215-95 RDA
RESOLUTION NO.
215-95
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY
TERMINATING NEGOTIATIONS WITH LINCOLN ROAD
CINEMA, LTD. WITH REGARD TO THE PROPOSED
LINCOLN ROAD MOVIE THEATER PROJECT, THE
LINCOLN ROAD MOVIE THEATER CONCEPT AGREEMENT
AND THE BID SUBMITTED BY THE INDIVIDUALS AND
ENTITIES COMPRISING LINCOLN ROAD CINEMA, LTD. IN
RESPONSE TO THE MULTIPLEX MOVIE THEATER ON
LINCOLN ROAD REQUEST FOR PROPOSALS.
WHEREAS, in July of 1994, the Miami Beach Redevelopment Agency ("RDA")
Board ranked individuals and entities comprising Lincoln Road Cinema, Ltd. ("LRC") as
the number one bidder in response to the Multiplex Movie Theater on Lincoln Road
Request for Proposals; and
WHEREAS, the RDA has been engaged in negotiations with LRC relating to a
proposed Lincoln Road Movie Theater Concept Agreement (the "Agreement") to develop
the movie theater and retail complex proposed in the bid; and
WHEREAS, more than one year has elapsed since selection of the number one
bidder by the RDA Board; and
WHEREAS, the RDA has given considerable flexibility to LRC in terms of timing,
bidding irregularities and allowable modifications; and
WHEREAS, on July 26,1995, the RDA Board adopted Resolution No. 212-95 (copy
attached) generally providing that, if the RDA, the City and LRC are unable to agree on
the terms of the Agreement by September 13, 1995, the RDA will consider terminating
negotiations with LRC; and
WHEREAS, the date of September 13, 1995 referenced in the preceding paragraph
was extended to September 27, 1995, to allow time to obtain an appraisal of the City
property to be involved in the project; and
WHEREAS, the RDA, the City, and LRC have met and the parties are unable to
agree to the terms of the proposed Agreement; and
WHEREAS, because the parties are unable to agree to the terms of the proposed
Agreement, the RDA is recommending termination of negotiations with LRC.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY that negotiations with
Lincoln Road Cinema, Ltd. are hereby terminated with regard to the proposed Lincoln
Road Movie Theater project, the Lincoln Road Movie Theater Concept Agreement and the
bid submitted by the individuals and entities comprising Lincoln Road Cinema, Ltd. in
response to the Multiplex Movie Theater on Lincoln Road Request for Proposals.
PASSED and ADOPTED this
day of
,1995.
ATTEST:
~
FORM APPRO\lfO
LEGAL D
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Date ~.~__.~ S
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RESOLUTION NO.
212-95
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY ("RDA")
PROVIDING THAT LINCOLN ROAD CINEMA, LTD. ("LRC")
SHALL PRESENT TO THE RDA BOARD, NO LATER THAN
SEPTEMBER 13, 1995, A CONCEPT AGREEMENT
PERTAINING TO THE LINCOLN ROAD MOVIE THEATER
PROJECT WHICH IS ACCEPTABLE TO THE RDA. THE
CITY OF MIAMI BEACH AND LRC OR, IF NOT
ACCEPTABLE. PROVIDING THAT THE RDA BOARD WILL
CONSIDER TERMINATING NEGOTIATIONS WITH LRe.
WHEREAS, in July of 1994, the Miami Beach Redevelopment Agency ("ROA")
Board ranked individuals and entities comprising Lincoln Road Cinema, Ltd. ("LRC") as
the number one bidder in response to the Lincoln Road Movie Theater 'Request for
Proposals; and
WHEREAS, the ROA has been engaged in negotiations with LRC relating to a
proposed Lincoln Road Movie Theater Concept Agreement (the "Agreement") to develop
the movie theater and retail complex proposed in the bid; and
WHEREAS, the ROA and LRC have been unable to conclude their negotiations on
the Agreement in time to present the Agreement for a vote by the RDA on July 26, 1995;
and
WHEREAS, approximately one year has elapsed since selection of the number one
bidder by the RDA Board; and
WHEREAS, the ROA has given considerable flexibility to LRC in terms of timing,
bidding irregularities and allowable modifications; and
WHEREAS, LRC has requested additional time to attempt to arrive at an agreement
acceptable to the RDA, the City and LRC.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY ("RDA") that Lincoln
Road Cinema, Ltd. ("LRC") shall present to the RDA Board no later than September 13,
1995 a concept agreement pertaining to the Lincoln Road Movie Theater project
acceptable to the RDA, the City of Miami Beach and LRC or, if not acceptable, providing
that the RDA will consider terminating negotiations with LRC.
PASSED and ADOPTED this
Jul
,1995.
ATTEST:
FORM APPROVED
REDEVELOPMENT AGENCY
GENERAL COUNSEL
By -rc. ~
Date
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2
Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305) 673-7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 95-58
DATE:
September 27, 1995
TO:
FROM:
CHAIRMAN AND MEMBERS OF THE BOARD
OF THE REDEVELOPMENT AGENCY
JOSE GARCIA-PEDROSA IJ
EXECUTIVE DIRECTOR ~J1r
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY TERMINATING NEGOTIATIONS WITH
LINCOLN ROAD CINEMA, LTD. WITH REGARD TO THE PROPOSED
LINCOLN ROAD MOVIE THEATER CONCEPT AGREEMENT AND THE BID
BY THE INDIVIDUALS AND ENTITIES COMPRISING LINCOLN ROAD
CINEMA, LTD. IN RESPONSE TO THE MULTIPLEX MOVIE THEATER
ON THE LINCOLN ROAD REQUEST FOR PROPOSALS.
RE:
RECOMMENDATION:
It is recommended that the Chairman and Members of the Miami Beach
Redevelopment Agency adopt the attached resolution terminating
negotiations with Lincoln Road Cinema, Ltd. (LRC) unless LRC
accepts, no later than September 26, 1995, the business terms as
embodied in the current draft of the concept agreement.
BACKGROUND:
Since July of 1994, the City of Miami Beach has been in discussions
with the principals of Lincoln Road Cinema, Ltd. ("LRC") to develop
a theater project consistent with the RFP award. Over a year has
passed, and the City, the Redevelopment Agency and LRC have not
reached agreement on all the business terms of the transaction.
1
S()UTti V()I~~
~edevel()pment I)lstrict
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l?edevel()pment I)lstrict
AGENDA ITEM 2-B
September 27, 1995
ANALYSIS:
The attached letter from Ramon Rasco, the City/Redevelopment
Agency's outside counsel, to Peter Tunis, counsel for Lincoln Road
Cinema, Ltd., outlines the City/RDA's position. The Administration
is recommending termination of negotiations with LRC unless LRC
accepts, no later than September 26, 1995, the business terms, as
embodied in the current draft of the concept agreement.
The Administration will seek the input of the Lincoln Road
Partnership as to what steps will be taken next, including:
D whether the City should consider the second-ranked development
team;
D whether to re-advertise and begin the RFP process again; or
D whether to allow private market forces to pursue theater
development on privately owned land.
A separate report and discussion on these issues should ensue at
the October 11, 1995 meeting.
CONCLUSION:
The City and the RDA have given LRC considerable latitude on
various issues to accommodate the developer's needs, including, but
not limited to:
D the issue of obtaining control of the South Florida Art Center
property;
D expansion of the site to accommodate a major department store;
and
D the issue of restructuring the entity comprising the
individuals and entities whose bid was ranked number one after
it was found that certain disclosures were not made by one of
the principals.
The Administration and City Attorney's Office have continually
negotiated in good faith to achieve a development that would create
a viable project for Lincoln Road and would achieve reasonable
protection for the City. We believe that the present concept
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agreement does so. Unless the developer is willing to accept the
business terms, as embodied in the present concept agreement, no
later than September 26, 1995, the negotiations should be
terminated.
HSM: jph
Attachments
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