HomeMy WebLinkAboutAgenda Item Summary Formy AGENDA ITEM SUMMARY FORM
File ID: #5732
Date: 06/07/2019 Requesting Department: Department of
Real Estate and Asset Management
Commission Meeting Date: 07/11/2019 Sponsored By:
District Impacted: District 2
Type: Discussion Item
Subject: Discussion - Olympia Theater and Office Building
Purpose of Item:
A Discussion Item to be heard by the Miami City Commission, with attachment(s),
reviewing the Proposer's unsolicited proposal, for a Public -Private Partnership, to
refurbish the Property; make capital improvements thereto; and, seek the Miami City
Commission's approval to issue a Request for Proposals, in accordance with Section
18-119, Code of the City of Miami.
Background of Item:
The City of Miami ("City") owns the Property, located at 174 East Flagler Street, Miami,
Florida. The Property is listed on the National Register of Historic Places; however, it
operates at a loss and is in need of substantial capital investments to repair, among
other things, the historic facade.
The Department of Real Estate and Asset Management has received an unsolicited
proposal from Proposer for the refurbishment of the Property, including the fagade.
Proposer is offering to invest its funds to accomplish this work, as well as convert the
Office Building, which is being used for housing, into a hotel. All improvements to the
Property would be performed in accordance with the City of Miami Historic Preservation
Office standards and those requirements set forth by the National Register of Historic
Places.
As per section 18-119, Code of the City of Miami, the City shall first notify the
Commission of the unsolicited proposal by placement of a discussion item on the
agenda for the Commission's approval to proceed with issuance of a formal Request for
Proposals.
Budget Impact Analysis
Item is NOT Related to Revenue
Item has NO budget impact
Item is NOT funded by Bonds
Total Fiscal Impact:
N/A
Reviewed By
Real Estate and Asset Management Yvonne Hernandez
Office of Management and Budget
Pedro Lacret
Office of Management and Budget
Christopher M Rose
City Manager's Office
Fernando Casamayor
Legislative Division
Carolina Bazail
City Manager's Office
Nikolas Pascual
Office of the City Attorney
Carolina Bazail
Office of the City Attorney
Carolina Bazail
City Commission
Nicole Ewan
City Commission
Maricarmen Lopez
Department Head Review
Completed
06/11/2019 4:02 PM
Budget Analyst Review
Completed
06/12/2019 11:34 AM
Budget Review
Completed
06/13/2019 5:55 PM
Assistant City Manager Review
Completed
06/17/2019 11:59 AM
Legislative Division Review
Skipped
06/17/2019 3:12 PM
City Manager Review
Completed
06/18/2019 11:01 AM
Deputy City Attorney Review
Skipped
06/17/2019 3:13 PM
Approved Form and Correctness
Skipped
06/17/2019 3:13 PM
Meeting
Completed
06/27/2019 9:00 AM
Meeting
Completed
07/11/2019 9:00 AM