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2016-29535 Reso RESOLUTION NO. 2016-29535 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AN AGREEMENT ATTACHED AS EXHIBIT "A" TO THIS RESOLUTION, BETWEEN THE CITY AND FLORIDA TENNIS PROMOTIONS, LLCTO SECURE, HOST AND PRODUCE A SERIES OF INTERNATIONAL TENNIS FEDERATION EVENTS AS SET FORTH IN EXHIBIT "A"; SAID AGREEMENT HAVING A TERM OF THREE (3) YEARS COMMENCING UPON EXECUTION; AUTHORIZING ANNUAL FUNDING IN THE AMOUNT OF $100,000, SUBJECT TO ANNUAL BUDGET APPROPRIATION AND, FURTHER AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE FINAL AGREEMENT UPON CONCLUSION OF SUCCESSFUL NEGOTIATIONS, PROVIDED THAT IN THE EVENT THAT THE CITY AND APPLICANT DEEM IT NECESSARY TO INCLUDE ANY NEW SUBSTANTIVE TERMS (WHICH ARE NOT CONTAINED IN THE ATTACHED DRAFT AGREEMENT) THEN SUCH NEW SUBSTANTIVE TERMS SHALL BE SUBJECT TO PRIOR APPROVAL BY THE MAYOR AND CITY COMMISSION BEFORE FINAL EXECUTION THEREOF. WHEREAS, on September 2, 2016, Commissioner Steinberg sponsored a discussion regarding a potential tennis event in North Beach with a goal of creating a calendar of premium tennis events in Miami Beach that will help to establish the City as a tennis and sporting capital in Florida; and WHEREAS, this will attract new visitors and promote the destination worldwide and the participants and spectators will also generate significant room nights and, therefore, resort taxes; and WHEREAS, following discussion, the Commission directed staff to continue discussions with the event organizers and return to Commission for direction when more information was available. Staff was also directed to work with Miami Beach Tennis Management to ensure they are involved; and WHEREAS, on March 9, 2016, the City Commission passed a motion endorsing the concept of an agreement with Creative Artists Agency (CAA), whereby the City would commit $100,000 toward the production of the event; and WHEREAS, the Administration continued discussions with CAAand the International Tennis Federation (ITF) for a commitment to host several events in Miami Beach over the next few years; and WHEREAS, CM has partnered with Florida Tennis Promotions, LLC, to produce a series of tennis events that would be sanctioned by the ITF ; and WHEREAS, the ITF is the world governing body of professional tennis with 210 member nations. The ITF organize the world cup of tennis (Davis Cup/ Fed Cup), which has participation from more than 122 nations with approximately 129 million viewers worldwide; and WHEREAS, Florida Tennis Promotions and ITF have proposed to produce the following events in Miami Beach: 1. 2017 ITF Worldwide Coaches Conference by BNP Paribas will be held between October 2017 and November 2017. This is a three (3) —five (5) day event with approximately 1,200 attendees and 500 — 600 hotel rooms, totaling approximately 2,000 room nights; 2. 2018 ITF Annual General Meeting to be held within two weeks of the conclusion of the US Open Tennis Tournament in September 2018. This is a four (4) to six (6) day event with hundreds of attendees from the 210 member nations; 3. ITF Seniors World Team and Individual Championships to be held in 2017 and 2018, in two consecutive weeks, usually mid-year or in the second half of the year, on dates to be agreed upon. This tournament is anticipated to attract 100 — 130 teams with approximately 500 players; and WHEREAS, as consideration for Florida Tennis Promotions' efforts toward creating a calendar of premium tennis events in Miami Beach, the City shall provide funding to Florida Tennis Promotions, in the amount of $100,000.00. After the first Contract Year, subject to funding availability, the City shall provide a City Contribution, in an amount of$100,000.00 annually, during the balance of the Term; and WHEREAS, as consideration for Florida Tennis Promotions' efforts toward exhibiting the Events, the City also agrees to use good faith diligent efforts to secure grant commitments of $125,000 of funding annually from other granting agencies and in the event such grant commitments are not forthcoming, City shall have no obligation to provide any additional funds. As the additional grant funding is essential to ensuring the success of the Events, in the event such grant funding is not forthcoming, the City and Florida Tennis Promotions shall develop a revised plan for the activation of Events for which there is sufficient funding and, if the parties are not able to develop such a plan to their mutual agreement, Florida Tennis Promotions shall have the option to terminate this agreement; and WHEREAS, the City and Florida Tennis Promotions have negotiated the terms and conditions of an Agreement, which is attached to the Resolution; and WHEREAS, the Administration recommends the Mayor and City Commission adopt the resolution approving the attached Agreement. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH FLORIDA that the Mayor and City Commission hereby approve an agreement attached as Exhibit "A" to this Resolution, between the City and Florida Tennis Promotions, LLC to secure, host and produce a series of International Tennis Federation events as set forth in Exhibit "A"; said agreement having a term of three (3) years commencing upon execution; authorizing annual funding in the amount of $100,000, subject to annual budget appropriation and, further authorizing the Mayor and City Clerk to execute the final agreement upon conclusion of successful negotiations, provided that in the event that the city and applicant deem it necessary to include any new substantive terms (which are not contained in the attached draft agreement) then such new substantive terms shall be subject to prior approval by the Mayor and City Commission before final execution thereof. PASSED and ADOPTED this 14th day of September, 2016. ,-' j PHILIP LEVIN- AYOR ATTESTED BY. //� �� 4 4 r .i' RA"AEL RA •• u0, C CLERK .. , 4 T:\AGENDA\2016\September\TOED\Florida.Tenni Promoton RESO.docx r\n ,,-ten ' ItiG�FtPi )= APPROVED AS TO �'/ LANGUAGE \ , , FORM&LAN ♦ '.c�f .,�, ;.,,3 j// &FOR EXECUTION c__)7,j .L €(61 I City Attorney (kg. Date • AGREEMENT BETWEEN CITY OF MIAMI BEACH,FLORIDA AND FLORIDA TENNIS PROMOTIONS,LLC This Agreement (the "Agreement") is made this day of , 2016 (Effective Date), by and between the CITY OF MIAMI BEACH, FLORIDA, a Florida municipal corporation, whose address is 1700 Convention Center Drive, Miami Beach, Florida 33139 ("City"), and FLORIDA TENNIS PROMOTIONS, LLC, a Florida limited liability company whose address is 77 Harbor Drive, #17, Key Biscane, Florida 33149 ("FTP") (each a"Party"and collectively the"Parties"). WHEREAS,the Parties desire to enter into this Agreement based on the terms and conditions set forth herein. NOW, THEREFORE, in consideration of the mutual covenants herein exchanged, the Parties agree as follows: 1. Term. The term of this Agreement shall commence on the date written below,and shall continue thereafter for three Contract Years(as defined in Section 4(a)below) until the conclusion of the final Event(defined in Section 2 below), unless terminated earlier in accordance with this Agreement. 2. Engagement. FTP shall endeavor to secure from the International Tennis Federation("ITF"),the world governing body of professional tennis, a collection of tennis events substantially similar to those set events forth below,to be exhibited during the Term with the cooperation of both FTP and the City on terms more fully set forth herein (collectively,the "Events"): - 2017, 2018 and 2019 Senior Events,which means the Seniors World Individual and Team Championships for 50, 55 and 60 year olds in 2017, 2018 and 2019 - Date: To be determined by ITF in consultation with FTP and the City, contemplated to be in late October or early November of each year. The City acknowledges and agrees with FTP's engagement of international talent agency CAA Sports as a sub- consultant for the Events,to assist with sponsor identification, operational strategy, and other matters relating to the activation of the Events. 3. Exclusivity. FTP shall be the City's exclusive representative for the brokering, hosting and general exhibition of tennis events involving the City during the Term. In the event FTP is presented with the opportunity to host and operate additional tennis events during the Term, FTP shall first discuss Miami Beach as a potential venue with the City. The Parties hereby commit in good faith to collaborate on future endeavors in the tennis event industry to be hosted in Miami Beach and involving FTP relationships and/or talent with an aim toward creating a calendar of premium tennis events in the Miami Beach area. 4. Funding. (a) The City Contribution. As consideration for FTP's efforts toward creating a calendar of premium tennis events in Miami Beach, during the first Contract Year of the Term of this Agreement (From October 1, 2016 through September 30, 2017; with "Contract Year" thereafter being defined as every October 1-September 30 during the Term), the City shall provide funding to FTP, in the amount of $100,000.00 ("City Contribution(s)") in equal quarterly payments commencing on October 1, 2016. FTP shall submit a quarterly invoice for each payment of such City Contribution and also submit the applicable status reports contemplated by Section 5 below. The City, in its sole discretion, may condition payment upon FTP providing the requisite reports under this Agreement, as set forth in Section 5 below. After the first Contract Year,subject to funding availability, the City shall provide a City Contribution to FTP, in an amount of$100,000.00 annually, during the balance of the Term. Except as set forth in this Section 4, and with respect to other costs which the City has expressly agreed to pay under the terms of this Agreement, the City will have no other funding or other payment obligations with respect to the operation of the Events. Additional Contributions. As consideration for FTP's efforts toward exhibiting the Events,the City also agrees to use good faith, diligent efforts to secure grant commitments of$125,000 of funding annually from other granting agencies such as the Miami Beach Visitor and Convention Authority, Miami-Dade County Tourist Development Council, and Florida Sports Foundation, from other city, state and related agencies and municipalities,to enable FTP to sufficiently operate the Events. In the event such grant commitments are not forthcoming, City shall have no obligation to provide any additional funds. As the additional grant funding is essential to ensuring the success of the Events, in the event such grant funding is not forthcoming, the City and FTP shall develop a revised plan for the activation of Events for which there is sufficient funding and, if the parties are not able to develop such a plan to their mutual agreement, FTP shall have the option to terminate this agreement. In the event of termination pursuant to this Section 4(a), FTP shall be entitled to retain or be compensated for,on a pro rata basis,the portion of the City Contribution calculated weekly through the effective date of termination. FTP shall also be entitled to payment for non-cancelable or non-refundable Event-related expenses contracted for prior to the date of termination, up to and not to exceed the amount of the City Contribution to be made hereunder for the applicable Contract Year of the Term. (b) FTP may only use the City Contribution for securing and/or activating the Events specifically described in Section 2. All expenditures will be subject to the terms of this Agreement. 5. Status Reports. The City Contribution has been authorized with the understanding that the activities and services contemplated Section 2 will mutually contribute to the enhancement of services available to City residents, businesses, and visitors. To demonstrate that the City Contribution is fulfilling, or has fulfilled, its purpose, FTP must supply the City with a written report documenting that FTP has fulfilled (or is reasonably in the process of fulfilling) all requirements as described in Exhibit "A". This report must be received by the City within 30 days of the Event's completion date (For example, if the Event concludes on November 7 of any given year, FTP must submit their final reports no later than December 7'h of that year). Notwithstanding the preceding, and as a condition of disbursement of the City Contribution, the City Manager or his designee may require FTP to submit an interim written report, detailing FTP's effort to such date. FTP and the City shall also confer on a regular basis throughout the Term to ensure both Parties are working efficiently toward the hosting of the Events and to detail and update the Parties' respective duties for exhibiting the Events. 6. City Support. The City shall provide to FTP with free or discounted venue for the Events in collaboration with FTP as to the specific venue. At its discretion,the City may contribute additional resources to the Events and so, promptly after the execution hereof,the Parties shall meet to develop a proposed budget and operational plan to outline each Party's responsibilities with respect to the Events. For the avoidance of doubt, none of the expenses of such budget for additional resources, if approved at City's discretion, shall be paid from the City Contribution or any additional grant funding, if any. 7. Termination for Convenience. (a) City shall have the right to terminate this Agreement for its convenience,without any continuing obligations to FTP except as expressly set forth herein, at any point after November 1, 2016, on thirty(30)days advance written notice to FTP. As full compensation for work performed by FTP through the date of termination, FTP shall be entitled to retain or be compensated for, on a pro rata basis, the portion of the City Contribution calculated weekly through the effective date of termination. FTP shall also be entitled to payment for non-cancelable or non-refundable Event-related expenses contracted for prior to the date of termination, up to and not to exceed the amount of the City Contribution to be made hereunder for the applicable Contract Year of the Term. (b) Following the conclusion of the Events scheduled for any given year of the Term(contemplated for late October/early November of each year), FTP shall have the right to terminate this Agreement at any time for its convenience on or before any given January 1 during the Term,on thirty(30)days advance written notice to City. In the event of such termination, FTP shall have no further continuing obligations to exhibit the Events or otherwise to City, other than to refund to the City any portion of the City Contribution or other payments made for the exhibition of any upcoming Events. 8. Indemnification. FTP shall indemnify and hold harmless the City and its officers, employees, agents and contractors, from any and all liability, losses or damages, including attorneys' fees and costs of defense, which the City or its officers, employees, agents and contractors may incur as a result of claims, demands, suits, causes of actions or proceedings of any kind or nature arising out of, relating to, or resulting from the grossly negligent performance of this Agreement by FTP or its officers, employees, agents, servants, partners, principals or contractors. FTP shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits or actions of any kind or nature in the name of the indemnified party, where applicable, including appellate proceedings, and shall pay all costs, judgments, and attorneys' fees which may issue thereon. FTP expressly understands and agrees that any insurance protection required by this Agreement, or otherwise provided, shall in no way limit its obligation, as set forth herein, to indemnify, hold harmless and defend the City or its officers, employees, agents and contractors as herein provided. City shall be solely responsible for its own negligence and that of its officers, employees, agents and contractors,to the extent and limits provided pursuant to Florida Statute 768.28. 9. Assignment: Neither party shall be permitted to assign this Agreement without the other party's prior written consent, and any purported assignment will be void, and shall be treated as an event of default. 10. Compliance with Laws: FTP agrees to abide by and be governed by all applicable Federal, State, County and City laws, including but not limited to Miami-Dade County's Conflict of Interest and Code of Ethics Ordinance, as amended, which is incorporated herein by reference as if fully set forth herein,and Chapter 2,Article VII of the Miami Beach City Code, as amended,which is incorporated herein by reference as if fully set forth herein. 11. Default/Termination Provisions: In the event either Party shall fail to comply with any of the provisions of this Agreement and fails to cure such non-compliance within fifteen (15) days following written notice thereof by the City(each such failure to cure, a"Default"),then the non-defaulting Party may terminate this Agreement upon giving five (5) calendar days written notice to FTP. In the event of any such termination pursuant to this Section 11, the defaulting Party shall remain liable for all damages, costs and expenses arising out of or related to its Defaults, and the non-defaulting Party shall be fully discharged from any and all liabilities or duties arising out of or related to this Agreement. In the event of FTP's termination for Default, the City shall withhold or cancel all or any unpaid installments of the City Contribution or other funds committed for the Events pursuant to this Agreement. For the avoidance of doubt, this Section 11 shall only apply to termination for Default and not termination for convenience as contemplated in Section 7. These provisions shall not waive or preclude the non-defaulting Party from pursuing any other remedies that may be available to it under the law. 12. No Waiver of Breach: The failure of either Party at any time to require performance of any provision or to resort to any remedy provided under this Agreement shall in no way affect the right of that Party to require performance or to resort to a remedy at any time thereafter, nor shall the waiver by either Party of a breach be deemed to be a waiver of any subsequent breach. 13. Written Notices: Any written notices required under this Agreement will be effective when delivered in h receipt of a certified letter addressed to FTP at the address specified in Article I-1 of this person or upon the p P Agreement, and to the City when addressed as follows: City Manager's Office, 1700 Convention Center Drive, 4th Floor, Miami Beach, Florida 33139. 14. Captions Used in this Agreement: Captions, as used in this Agreement, are for convenience of reference only and should not be deemed or construed as in any way limiting or extending the language or provisions to which such captions may refer. 15. Entire Agreement: This Agreement, including its special conditions and exhibits, represents the whole and total agreement of the Parties. No representations, except those contained within this agreement and its attachments, are to be considered in construing its terms. No modifications or amendments may be made to this Agreement unless made in writing signed by both Parties, and approved by appropriate action by the Mayor and City Commission. Article III/Miscellaneous Provisions 16. The City Contribution awarded herein is the result of a finding by the City, based on representatives, documents, materials and other information supplied by FTP,that FTP is performing a public purpose through the programs, projects, and/or services recommended for support. As such, use of City funds for any program component not meeting this condition will be considered a breach of the terms of this Agreement and will allow the City to seek remedies including, but not limited to,those outlined in this Agreement. 17. FTP also accepts and agrees to comply with the following Special Conditions: FTP hereby agrees that it will comply with Title VI of the Civil Rights Act of 1964 (42 U.S.C. 2000d et seq.) prohibiting discrimination on the basis of race, color,national origin, handicap, or sex. FTP hereby agrees that it will comply with City of Miami Beach Human Rights Ordinance as codified in Sections 62-31 through 62-66 of the City Code, and as amended from time to time, prohibiting discrimination in employment, housing and public accommodations on account of race, color, national origin, religion, sex, intersexuality, gender identity, sexual orientation,disability, marital status,financial status, or age. The City endorses the clear mandate of the Americans with Disabilities Act of 1990 (ADA) to remove barriers that prevent qualified individuals with disabilities from enjoying the same employment opportunities that are available to persons without disabilities. The City also endorses the mandate of the Rehabilitation Act of 1973 and Section 504 and prohibits discrimination on the basis of disability and requires that FTP provide equal access and equal opportunity and services without discrimination on the basis of any disability. 18. GOVERNING LAW AND EXCLUSIVE VENUE This Agreement shall be governed by, and construed in accordance with,the laws of the State of Florida, both substantive and remedial, without regard to principles of conflict of laws. The exclusive venue for any litigation arising out of this Agreement shall be Miami-Dade County, Florida, if in State court, and the U.S. District Court, Southern District of Florida, if in federal court. BY ENTERING INTO THIS AGREEMENT, CITY AND FTP EXPRESSLY WAIVE ANY RIGHTS EITHER PARTY MAY HAVE TO A TRIAL BY JURY OF ANY CIVIL LITIGATION RELATED TO, OR ARISING OUT OF, THIS AGREEMENT.. Reviewed and Agreed: Reviewed and Agreed: [CITY OFil IAMI B DE. CH] FLORIDA TENNIS PROMOTIONS, LLC By: i a 40' ........ Name: 1' W�' 7 ��.-'•..15ae: 5431 v to ,a4 Title: 1' Date: • _�'-- 12,2016 CORP�ORATED�at . must ZI , 2016. Sc? -� S� '�RCH 26 APPROVED AS TO FORM &LANGUAGE &FOR EXECUTION 1 f CftyAttomey 12Ala Date EXHIBIT"A" FTP DELIVERABLES [Please provide] EXHIBIT "A" FTP DELIVERABLES • Exhibit the final round of the 2017, 2018 and 2019 Senior Events at North Shore Tennis Center • Responsible for operating and managing all logistics and personnel of the Senior Events and staging Senior Events in a professional manner • Responsible for securing sanctioning from the ITF and paying exhibition fees required by the ITF • Provide the City with credentials to Senior Events as reasonably needed for the purposes hereunder • Manage and liaise with the ITF as necessary for the exhibition of the Senior Events Resolutions -C7 J MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Jimmy L. Morales, City Manager DATE: September 14, 2016 SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AN AGREEMENT ATTACHED AS EXHIBIT "A" TO THIS RESOLUTION, BETWEEN THE CITY AND FLORIDA TENNIS PROMOTIONS, LLC TO SECURE, HOST AND PRODUCE A SERIES OF INTERNATIONAL TENNIS FEDERATION EVENTS AS SET FORTH IN EXHIBIT "A"; SAID AGREEMENT HAVING A TERM OF THREE (3) YEARS COMMENCING UPON EXECUTION; AUTHORIZING ANNUAL FUNDING IN THE AMOUNT OF $100,000, SUBJECT TO ANNUAL BUDGET APPROPRIATION AND, FURTHER AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE FINAL AGREEMENT UPON CONCLUSION OF SUCCESSFUL NEGOTIATIONS, PROVIDED THAT IN THE EVENT THAT THE CITY AND APPLICANT DEEM IT NECESSARY TO INCLUDE ANY NEW SUBSTANTIVE TERMS (WHICH ARE NOT CONTAINED IN THE ATTACHED DRAFT AGREEMENT)THEN SUCH NEW SUBSTANTIVE TERMS SHALL BE SUBJECT TO PRIOR APPROVAL BY THE MAYOR AND CITY COMMISSION BEFORE FINAL EXECUTION THEREOF. RECOMMENDATION The Administration recommends the City Commission adopt the attached resolution. ANALYSIS On September 2, 2016, Commissioner Steinberg sponsored a discussion regarding a potential tennis event in North Beach. The goal of this effort is to create a calendar of premium tennis events in Miami Beach that will help to establish the City as a tennis and sporting capital in Florida. This will attract new visitors and promote the destination worldwide. The participants and spectators will also generate significant room nights and, therefore, resort taxes . Following discussion, the Commission directed staff to continue discussions with the event organizers and return to Commission for direction when more information was available. Staff was also directed to work with Miami Beach Tennis Management to ensure they are involved. On March 9, 2016, the City Commission passed a motion endorsing the concept of an agreement with CAA whereby the City would commit$100,000 toward the production of the event. The Administration has continued discussions with Creative Artists Agency, CAA, and the International Tennis Federation (ITF) for a commitment to host several events in Miami Beach over the next few years. CAA is one of the world's leading talent and sports agencies. The ITF is the world governing body of professional tennis with 210 member nations. They organize the Page 404 of 2277 world cup of tennis (Davis Cup / Fed Cup), which has participation from more than 122 nations with approximately 129 million viewers worldwide. The following is a summary of the proposed events: 1. 2017 ITF Worldwide Coaches Conference by BNP Paribas will be held between October 2017 and November 2017. This is a three (3) — five (5) day event with approximately 1,200 attendees and 500 — 600 hotel rooms, totaling approximately 2,000 room nights. 2. 2018 ITF Annual General Meeting to be held within two weeks of the conclusion of the US Open Tennis Tournament in September 2018. This is a four (4) to six (6) day event with hundreds of attendees from the 210 member nations. 3. ITF Seniors World Team and Individual Championships to be held in 2017 and 2018, in two consecutive weeks, usually mid-year or in the second half of the year, on dates to be agreed upon. This tournament is anticipated to attract 100 — 130 teams with approximately 500 players. Coaches and family also attend. In 2014, the ITF Seniors World Team and Individual Championships were held in Palm Beach Gardens. The team tournament attracted participants from 39 countries, the largest number of countries ever to be represented at the event and the individual tournament attracted participants from 52 countries. The Palm Beach Sports Commission estimated the economic impact of the event at more than $2.5 million. The City has also discussed hosting the ITF Seniors World Team and Individual Championships at North Shore Tennis Center with Howie Orlin of Miami Beach Tennis Management. Although there are still a number of details to work out, Mr. Orlin is willing to work with the City and event organizer CAA to produce a successful tournament. In exchange for committing to bringing and producing the aforementioned events, CAA is requesting a financial commitment from the City of $100,000 annually, subject to annual budget approval, toward the events. CAA would be responsible for securing the remaining funds in cash or in-kind sponsorships to successfully produce the events. The following summarizes the key terms of the attached agreement: 1. Engagement: CAA shall endeavor to secure from the International Tennis Federation ("ITF"), the world governing body of professional tennis, a collection of tennis events substantially similar to those set events forth below, to be exhibited during the Term with the cooperation of both CAA and the City on terms more fully set forth herein (collectively, the "Events"): 2017, 2018 and 2019 Senior Events, which means the Seniors World Individual and Team Championships for 50, 55 and 60 year olds in 2017, 2018 and 2019. Date: To be determined by ITF in consultation with CAA and the City, contemplated to be in late October or early November of each year. 1 . Exclusivity: CAA shall be the City's exclusive representative for the brokering, hosting and general exhibition of tennis events involving the City during the Term. 2 . The City_Contribution: As consideration for CAA's efforts toward creating a calendar of premium tennis events in Miami Beach, during the first Contract Year of the Term of this Agreement (From October 1, 2016 through September 30, 2017; with "Contract Year" thereafter being defined as every October 1-September 30 during the Term), the City shall provide funding to CAA, in the amount of $100,000.00 ("City Contribution(s)") in equal quarterly payments commencing on October 1, 2016. CAA shall submit a quarterly invoice for each payment of such City Contribution and also submit the applicable status reports contemplated by Section 5 below. The City, in its sole discretion, may condition payment upon CAA providing the requisite reports under Page 405 of 2277 this Agreement, as set forth in Section 5 below. After the first Contract Year, subject to funding availability, the City shall provide a City Contribution, in an amount of $100,000.00 annually, during the balance of the Term. Except as set forth in this Section 4, and with respect to other costs which the City has expressly agreed to pay under the terms of this Agreement, the City will have no other funding or other payment obligations with respect to the operation of the Events. 3 . Additional Contributions: As consideration for CAA's efforts toward exhibiting the Events, the City also agrees to use good faith diligent efforts to secure grant commitments of $125,000 of funding annually from other granting agencies such as the Miami Beach Visitor and Convention Authority, Miami-Dade County Tourist Development Council, and Florida Sports Foundation, from other city, state and related agencies and municipalities, to enable CAA to sufficiently operate the Events. In the event such grant commitments are not forthcoming, City shall have no obligation to provide any additional funds. As the additional grant funding is essential to ensuring the success of the Events, in the event such grant funding is not forthcoming, the City and CAA shall develop a revised plan for the activation of Events for which there is sufficient funding and, if the parties are not able to develop such a plan to their mutual agreement, CAA shall have the option to terminate this agreement. In the event of termination pursuant to this Section 4(a), CAA shall be entitled to retain or be compensated for, on a pro rata basis, the portion of the City Contribution calculated weekly through the effective date of termination. CAA shall also be entitled to payment for non-cancelable or non-refundable Event-related expenses contracted for prior to the date of termination, up to and not to exceed the amount of the City Contribution to be made hereunder for the applicable Contract Year of the Term. 4 . City Support: The City shall provide to CAA with free or discounted venue for the Events in collaboration with CAA as to the specific venue. At its discretion, the City may contribute additional resources to the Events and so, promptly after the execution hereof, the Parties shall meet to develop a proposed budget and operational plan to outline each Party's responsibilities with respect to the Events. For the avoidance of doubt, none of the expenses of such budget for additional resources, if approved at City's discretion, shall be paid from the City Contribution or any additional grant funding, if any. 5. Termination for Convenience: (a) City shall have the right to terminate this Agreement for its convenience, without any continuing obligations to CAA except as expressly set forth herein, at any point after November 1, 2016, on thirty (30) days advance written notice to CAA. As full compensation for work performed by CAA through the date of termination, CAA shall be entitled to retain or be compensated for, on a pro rata basis, the portion of the City Contribution calculated weekly through the effective date of termination. CAA shall also be entitled to payment for non-cancelable or non-refundable Event-related expenses contracted for prior to the date of termination, up to and not to exceed the amount of the City Contribution to be made hereunder for the applicable Contract Year of the Term. (b) Following the conclusion of the Events scheduled for any given year of the Term (contemplated for late October/early November of each year), CM shall have the right to terminate this Agreement at any time for its convenience on or before any given January 1 during the Term, on thirty (30) days advance written notice to City. In the event of such termination, CAA shall have no further continuing obligations to exhibit the Events or otherwise to City, other than to refund to the City any portion of the City Contribution or other payments made for Page 406 of 2277 the exhibition of any upcoming Events. CONCLUSION The Administration recommends the City Commission adopt the attached resolution. KEY INTENDED OUTCOMES SUPPORTED Maximize The Miami Beach Brand As A World Class Destination FINANCIAL INFORMATION As consideration for CAA's efforts toward creating a calendar of premium tennis events in Miami Beach, the City shall provide funding to CAA, in the amount of $100,000.00. After the first Contract Year, subject to funding availability, the City shall provide a City Contribution, in an amount of$100,000.00 annually, during the balance of the Term. Amount 1 $100,000 Account 1 160.4300.000349 Total $100,000 Legislative Tracking Tourism, Culture, and Economic Development Sponsor Commissioner Micky Steinberg ATTACHMENTS: Description ❑ Resolution ❑ Agreement Page 407 of 2277