2014-28815 Reso RESOLUTION NO. 2014-28815
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, ACCEPTING THE SEPTEMBER 24,
2014 UNANIMOUS RECOMMENDATION OF THE FINANCE AND
CITYWIDE PROJECTS COMMITTEE TO' DEDICATE THE $10.5
MILLION DOLLAR VOLUNTARY CONTRIBUTION BY 8701 COLLINS
DEVELOPMENT, LLC (8701), AS CONTEMPLATED UNDER
RESOLUTION NO. 2014-28743, TOWARD THE AREA OF NORTH
BEACH, NORTH OF 63RD STREET; AND TO UTILIZE 50 PERCENT
(50%) OF THE $10.5 MILLION TOWARD THE REVITALIZATION OF
NORTH BEACH OPEN SPACE PARK, INCLUDING CREATING AN
ENDOWMENT ACCOUNT TO ENSURE THE FUTURE RENEWAL,
REPLACEMENT AND MAINTENANCE OF THE PARK.
WHEREAS, the City approved, after public hearing, Resolution No. 2014-28743,
which authorized the vacation of that certain City right-of-way currently known as 87th
Terrace east of Collins Avenue (hereinafter "City Right-of-Way") in favor of 8701 Collins
Development, LLC (8701); and
WHEREAS, as part of Resolution 2014-28743, 8701 agreed to a term sheet,
which shall be turned into a Development Agreement with the City, which would provide
the City with a 10.5 million dollar voluntary contribution; and
WHEREAS, on September 24, 2014, the Finance and Citywide Projects
Committee discussed the appropriate public use for the $10.5 million dollar voluntary
contribution; and
WHEREAS, the Committee believed it to be in the best interest of the City to
utilize the funds in North Beach, for projects that would benefit the community in that
area; and
WHEREAS, after a lengthy discussion, the Committee unanimously
recommended that the entire $10.5 million dollar voluntary contribution be utilized in
North Beach, north of 63rd Street; and
WHEREAS, the Committee further recommended that half of the voluntary
contribution be utilized to repair and renovate the North Beach Open Space Park; with a
portion of those funds to be set aside as an endowment fund to ensure that the capital
costs associated with the future "renewal and replacement" maintenance needs of the
Park are maintained without causing an increase in the millage rate to support the Park;
and
WHEREAS, the Mayor and City Commission desire to adopt the
recommendation of the Finance and Citywide Projects Committee.
NOW THEREFORE BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, to accept the September
241 2014 unanimous recommendation of the Finance and Citywide Projects Committee
to dedicate the $10.5 million dollar voluntary contribution by 8701 Collins Development,
LLC (8701), as contemplated under Resolution No. 2014-28743, toward the area of
North Beach, north of 63rd Street; and to utilize 50 percent (50%) of the $10.5 million
toward the revitalization of North Beach Open Space Park, including creating an
endowment account to ensure the future renewal, replacement and maintenance of the
park.
PASSED and ADOPTED this a?? day of aCIe,✓ , 2014.
ATTEST:
Philip rev' e, 11l�ayor
Rafael E. Granad Clerk
APPROVED AS TO
� ' •• a FORM & LANGUAGE
;r & F EXECUTION
INCORP ORATE
City Attorney Date
1
MI.A.M.I. BEACH
City of Miami Beach, 1700 Convention Center Drive,Miami Beach, Florida 33139,www.miamibeachfi.gov
MEMORANDUM
TO: Mayor And City Commission
FROM: Jimmy L. Morales, City Manager
DATE: October 29, 2014
SUBJECT: A RESOLUTION OF THE MAYOR ND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ACCEPTING THE SEPTEMBER 24, 2014 UNANIMOUS
RECOMMENDATION OF THE FINANCE AND CITYWIDE PROJECTS COMMITTEE
TO DEDICATE THE $10.5 MILLION DOLLAR VOLUNTARY CONTRIBUTION BY
8701 COLLINS DEVELOPMENT, LLC (8701), AS CONTEMPLATED UNDER
RESOLUTION NO. 2014-28743, TOWARD THE AREA OF NORTH BEACH, NORTH
OF 69TH STREET; AND TO UTILIZE 50 PERCENT (50%) OF THE 10.5 MILLION
TOWARD THE REVITALIZATION OF NORTH BEACH OPEN SPACE PARK,
INCLUDING CREATING AN ENDOWMENT ACCOUNT TO ENSURE THE FUTURE
RENEWAL, REPLACEMENT AND MAINTENANCE OF THE PARK.
This item was opened and continued from the October 22, 2014 City Commission
meeting. The City of Miami Beach holds a right-of-way (ROW) dedication to a 50 foot wide
road, running East of Collins Avenue, known as 87th Terrace. On Septmeber 17, 2014, the City
approved, after public hearing, Resolution No. 2014-28743, which authorized the vacation of
that certain City right-of-way currently known as 87th Terrace - east of Collins Avenue
(hereinafter "City Right-of-Way") in favor of 8701 Collins Development, LLC (8701). As part of
Resolution 2014-28743, 8701 agreed to a term sheet, which shall be turned into a Development
Agreement with the City, which would provide the City with a 10.5 million dollar voluntary
contribution.
On September 24, 2014, the Finance and Citywide Projects Committee discussed the
appropriate public use for the $10.5 million dollar voluntary contribution. The Committee
believed it to be in the best interest of the City to utilize the funds in North Beach, for projects
that would benefit the community in that area. After a lengthy discussion, the Committee
unanimously recommended that the entire $10.5 million dollar voluntary contribution be utilized
in North Beach, north of 69 Street. The Committee further recommended that half of the
voluntary contribution be utilized to repair and renovate the North Beach Open Space Park; with
a portion of those funds to be set aside as an endowment fund to ensure that the capital costs
associated with the future "renewal. and replacement" maintenance needs of the Park are
maintained without causing an increase in the millage rate to support the Park.
Recommendation: It is the recommendation of the Administration for the Mayor and City
Commission to adopt the recommendation of the Finance and Citywide Projects Committee.
Agenda Item jQ7
Date 04