HomeMy WebLinkAboutSubmittal-Jaqueline Lorenzo-Inter-Office MemoCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
1-0: Honorable Mayor and Members
of the City Commission
FROM: Emilio *T.ez,D.
City M
re Submitted into the pu lic
on — record fr it (s
on � 7.'') City Clerk
DATE: July 25, 2019
SUBJECT: Ultra Fee Settlement
A settlement has been worked out with Ultra on the final disputed amount due of $475,000.00
from the event that took place in March of this year. Ultra will pay the City $308,000.00; this will
be paid over four years. If the item is approved today, the first payment of $77,000.00 will be paid
within 10 days. The remaining payments will be due by June 1 of each year thereafter. There will
be no mediation on any remaining amounts.
This does not mean that Ultra is getting the 4 year license agreement that is being considered
today. If that license agreement is not extended for any reason, the City would waive any
remaining amount that may be due and not yet paid.
As always, if you have any questions, please feel free to contact me.