001-2007 Requested Information - New World Symphony
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MIAMI BEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
MEMORANDUM
001-2007
.,.,."".)
DATE:
Richard Steinberg, Commissioner
Jorge M. Gonzalez, City Manager \.;-1
February 12, 2007 0
Requested Information - New World Symphony
RECEIVED
2001 FEB I 2 AM II: 59
CITY CLERK'S OFFICE
TO:
FROM:
SUBJECT:
Pursuant to your request, please find below additional information with regard to the New
World Symphony ("NWS").
1. Programming of Screen
Article 1 of the Development Agreement defines the Screen as "... a large outdoor audio and
visual presentation system used for presentations to viewers outside of the SoundSpace
Building". The Screen is intended to contain shared programming by NWS, various arts
organizations, and the City. Section 6.2 of the Agreement specifies this requirement and
provides a timeline for the completion of a management and operating agreement for the
Screen. Section 6.2 is reprinted below:
"Section 6.2 - Operations - Tenant will collaborate with the City and other arts
organizations with respect to their use of the Screen in accordance with the Public
Benefits set forth on Exhibit C. Prior to issuance of the Building Permit, the Parties
will negotiate an agreement for the management and operation, including without
limitation, the scheduling and content of programming for the Screen. The Parties
agree that there shall be no commercial advertising permitted for display on the
screen".
Exhibit C, referred to in Section 6.2 states the following:
"SoundSpace Impact Statement - NWS is prepared to provide regular video
programming for the park throughout the year. This programming will take many
formats, from broadcasting entire NWS concerts and portions of concerts, to special
events and other creative video presentations. Programming for the park will also
feature other cultural organizations, local to international, and can include anything
from dance to film to other forms of musical and visual art presentation. The
commitment of NWS resources for this programming will be at least $200,000
annually. The City of Miami Beach will work ,with NWS to develop specific seasonal
events programming by other Miami Beach cultural organizations, at their expense,
particularly for the summer season, whether or not such programming actually
includes NWS".
2. Right to Mortgage
NWS has a specific right in Section 10 of the Development Agreement to mortgage their
leasehold interest without City approval if the mortgage is held by one or more Recognized
Mortgagee(s). The Proposed First Addendum contains language modifying these rights by
limiting to three (3) the number of Mortgagees that have rights under the Agreement (Section
3(h) of the Proposed First Addendum).
Section 11 of the Development Agreement states that, "NWS may mortgage its leasehold
interest to secure debt by one or more recognized Mortgagee(s) without the City's approval,
but cannot under any circumstance, encumber City's fee simple interest in the Premises".
3. Milestone Dates
Please find attached a summary of the key milestones for the Project.
4. Acceleration of Construction for the City Hall Garage - this will be addressed under a
separate cover.
I hope this responds to your questions. Please feel free to contact me if you need additional
information or any clarification.
Attachment
C: Mayor and Commission
Jose Smith, City Attorney
New World Symphony - Development Agreement Timeline
Proiection - (As of February 1. 2007)
Date
01/05/04
03/29/04
OS/25/04
07/29/04
08/24/04
09/08/04
Event/Milestone (Actual Occurrence and/or Scheduled Event)
Development & Lease Agreement with NWS
approved.
Three project concept plan alternatives presented by
NWS and reviewed by the CMB.
Preliminary Planning Board review of plan
alternatives.
Three new concept plan alternatives presented to
CMB for consideration - maintaining Drexel Ave open
to traffic.
New concept plan alternatives presented to Planning
Board. Concept Plan #4 favored.
Project Concept Plan approval by City Commission
(Default deadline for Commission approval- 10/01/05 see 2.2)
Referral to Finance Committee to consider amending Gehry's
contract to include park design.
Commence preliminary plans/specs (16 months) See 2.3(b)
1 0/26/04
01/09/06
01/27/06
Finance Committee recommends in favor of amending
Development Agreement to expand the NWS' scope to include
the design and development of the Zone 1, comprising the
park, Drexel Avenue between North Lincoln Lane and 1yth
Street and improvements adjacent to the new garage, at
the Owner's cost and expense, not to exceed $10,000,000;
Zone 2, comprising the Theater of the Performing Arts entry
landscaping at the Owner's cost and expense, not to exceed
$1,150,000; and Zone 3, comprising North Lincoln Lane
improvements, at the Owner's cost and expense, not to exceed
$500,000.
Preliminary plans/specs delivered to Owner per See 2.3(b)
Owner approves preliminary plans/specs, authorizing NWS to
proceed with design development, subject to comments and
concerns by Planning & Zoning and other reviewing
departments.
New World Symphony
Development and Lease Agreement
Timeline (as of Feb 1, 2007) - Page 2
Date
11/13/06
11/14/06
11/30/06
12/06/06
02/12/07
(Scheduled)
02/14/07
(Scheduled)
02/20/07
(Scheduled)
03/06/07
(Scheduled)
Event/Milestone (Actual Occurrence and/or Scheduled Event)
Preliminary one-on-one review of plans/specs by DRB members
Commence final plans/specs (14 months) See 2.4
Finance Committee recommends in favor of amending
Development Agreement to expand the NWS' to include the
Park, at a total "design to" cost of $13,810,000; the additional
Improvements (including the addition of the TOPA entry-way
Landscaping at total combined cost of $7,750,000); and, the
Garage, at a total cost as provided for in the DA, of
$12,250/space and 12.5% soft costs.
The Committee further recommended conducting a special
Commission workshop to consider increasing the cost of
Building the Garage to $15,210,135, as well as a request
from the NWS for a Grant-in-Aid in the amount of $15 Million.
First Reading of proposed First Addendum to the Development
Agreement, as amended by the Finance Committee, with a
provision, that in lieu of a repayment Guaranty by NWS, that a
Right-of-Assignment be provided to allow CMB to utilize NWS
Architect and G.C. to proceed with construction of the Park and
The Garage, in the event of termination by NWS.
Special Commission Workshop to consider additional cost of
Parking Garage Component; Guaranty provisions from NWS, (in
the event of termination or default); and, a Grant-in-Aid request
for $15 Million towards its share of the Project.
Second Reading of proposed First Addendum scheduled, to be
open and continued to 02/20/07.
Second Reading of proposed First Addendum scheduled
Formal plan review by DRB
New World Symphony
Development and Lease Agreement
Timeline (as of Feb 1, 2007) - Page 3
Projectedl
Outside Date
Event/Milestone
12/07/07
(Estimated)
Final plans/specs to Owner (w/in 14 months of preliminary DRB
review) - (1 month to review)
01/07/08
(Estimated)
Final plans/specs to Planning Board for approval, per direction
of City Commission on 09/08/04 (3 months)
Note: Prior to obtaining building permit, CMS & NWS to negotiate
Management and Operating Agreement for programming of Screen.
03/07/08
(Estimated)
Apply for Building Permit (3 months)
Note: Prior to commencing construction, payment and performance bond
to be provided to CMS or Letter of Credit = to 100% of cost of
improvements.
06/06/08(**)
08/06/10
Commence Construction Sound Space
Est Completion of Sound Space (26 mos)
Note: (*' Estimated outside dates based upon time frames specified in
referenced sections of Development Agreement.
Note: (**' Construction cannot commence until the earlier of (a) CMB has
completed construction and begun operating City Hall Exp Garage or (b)
alternate replacement parking acceptable to CMB has been identified by
NWS; or (c) May 30,2007. Sec. 2.5(e)
Note: Time line does not include Garage or Park component.
TDH:kob
F:lddhpl$aIlIROAINWSINewWorldSymphony _ TimeEst.doc