Resolution 2023-32627 RESOLUTION NO. 2023-32627
A RESOLUTION OF THE MAYOR AND CITY'COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA,APPROVING THE ESSENTIAL BUSINESS TERMS OF
THE AGREEMENT WITH IKE SMART CITY, . LLC (IKE), AS MORE
PARTICULARLY SET FORTH IN THE CITY COMMISSION MEMORANDUM
ACCOMPANYING THIS RESOLUTION, PURSUANT TO REQUEST FOR
PROPOSALS (RFP) NO. 2022-040-KB TO DESIGN, MANUFACTURE, INSTALL,
OPERATE AND MAINTAIN INTERACTIVE DIGITAL MEDIA KIOSKS; AND
FURTHER AUTHORIZING THE CITY MANAGER AND CITY CLERK TO
EXECUTE AN AGREEMENT WITH IKE CONSISTENT WITH THE APPROVED
TERMS.
WHEREAS, on August 25, 2021, the Administration received an unsolicited proposal from
IKE Smart City, LLC("IKE"), pursuant to Section 255.065, Florida Statutes, to Design, Manufacture,
Install, Operate and Maintain Interactive Digital Media Kiosks at certain sites throughout the City;
and
WHEREAS, on January 20, 2022, the Mayor and City Commission approved Resolution
2022-31989, accepting the unsolicited proposal pursuant to Section 255.065, Florida Statutes and
authorizing the Administration to issue Request for Proposals (RFP) No. 2022-040-KB, seeking
proposals from other interested parties for the same project purpose as the unsolicited proposal;
and
WHEREAS, on _December 14, 2022, via Resolution 2022-32422, the Mayor and City
Commission authorized the Administration to enter into negotiations with IKE, the top-ranked
proposer, and if unsuccessful, to negotiate with Smart City Media, the second-ranked proposer,
with the final negotiated agreement being subject to the prior approval of the Mayor and City
Commission; and
WHEREAS, as directed by the City Commission, staff has negotiated an agreement with
IKE, the material terms of which are contained in the Term Sheet, attached to the City Commission
Memorandum accompanying this Resolution as Attachment A; however, the most significant terms
are highlighted below:
Locations. The initial installation will include 15 kiosks, currently being considered for
installation at the proposed locations, identified in Attachment. B to the City Commission
Memorandum accompanying this Resolution, subject to the City Manager's final approval. The City
Manager may approve, at her sole discretion, up to an additional 15 kiosks during the term, for an
operational ceiling not to exceed 30 locations.
Term. The Agreement shall have an initial term of ten (10) years, commencing upon the
earlier of (1) the installation of the 15th kiosks or (2) one (1) year from the Effective Date of the
Agreement. The Agreement will renew automatically for an additional ten (10)years, subject to IKE
meeting certain renewal Criteria, as outlined in the term sheet attached to the City Commission
Memorandum accompanying this Resolution. A Term Year is defined as each successive twelve
(12) month period of the Term, with the first Term Year commencing on the operational date of the
first installed IKE kiosk.
Termination For Convenience Of The City. Commencing at the expiration of 16 years from
the Agreement's Effective Date, the City may also, through its City Manager, and for its convenience
and without cause, terminate the Agreement. Termination shall become effective within thirty (30)
days following receipt by IKE of such notice.
Kiosk Revenue.
a. Non-Refundable Prepayment (Escrow). Within five (5) calendar days from the Effective
Date, IKE will provide the City with a $1,000,000.00 non-refundable advance payment ("Non-
Refundable Prepayment"), to be placed in a City segregated account, for the City to use as a credit
towards future Kiosk Revenue payments owed to the City. Future payments owed to the City will
be deducted from the Non-Refundable Prepayment is exhausted.
b. Minimum Annual Guaranty Payment (MG). IKE will pay the City a Minimum Guaranty
payment of $20,000.00 annually (paid quarterly) per kiosk during the first Term Year ("MG"),
commencing as of the date each kiosk becomes operational. Each Term Year thereafter, the MG
payment will increase by two percent(2%)over the annual MG amount payable in the immediately
preceding Term Year.
c. Revenue Share (PG). Annually, IKE shall pay to the City 40% of gross revenues earned
by IKE for each Term Year with respect to the operation of all the kiosks("PG"), less the total amount
of MG payments the City received for the respective Term Year.
d. Reconciliation Statement. At the end of each Term Year, IKE will provide the City with a
reconciliation. If the PG amount for the Term Year is more than the MG payments received by the
City during the given Term Year, then IKE will pay the City the amount in excess of the total amount
of MG payments received for the Term Year. If the annual PG amount was less than the total MG
payments .received by the City during the given term year, then IKE will not have to remit any
additional sums to the City for that respective Term Year.
Advertising Restrictions. The Agreement contains the following prohibitions on
advertisements.
a. strobing effect or visuals that replicate a traffic sign in colors and words, including but not
limited to a red sign with the words "Stop" or a yellow sign with the words "LOOK";
b. false or misleading;
c. material that is immoral, lascivious, or obscene as defined in Section 847.001, Florida
Statutes;
d. no advertising shall be for businesses engaged in any activity that requires the exclusion
of minors pursuant to Chapter 847, Florida Statutes;
e. promotes unlawful or illegal goods, services, or activities;
f. tobacco or tobacco-related products, including electronic cigarettes;
g. firearms;
h. sexual services, programs, or products;
i. political candidates or political issues, campaigns;
j. competitive products included in the current Citywide exclusive sponsorship agreements
with Red Bull and Pepsi; provided, however, IKE shall not be obligated to comply with
this restriction with respect to(A)more than (1) Citywide exclusive pouring rights sponsor
for non-alcoholic beverages categories other than energy drinks, and one (1) Citywide
exclusive pouring rights sponsor for non-alcoholic energy drinks at any given time during
the Term or (B) two (2) Citywide exclusive sponsorship agreements with non-alcoholic
pouring rights providers per term year;
k. advertisement relating to medical marijuana; and
I. any such additional category of advertising that may,be added by the Mayor and City
Commission, as notified in writing to IKE.
Alcohol Advertising. Advertising of alcoholic beverages, as defined by Section 561.01,
Florida Statutes, shall be permitted with the following restrictions:
a. No advertising for alcoholic beverages shall be within 250 feet of any type of public
or private school, including pre-schools, elementary schools, middle schools, high
schools, colleges, and universities;
b. No advertising for alcoholic beverages shall be within 250 feet of houses of worship,
including churches, synagogues, temples, and mosques;
c. No advertising for alcoholic beverages shall be within 250 feet of Hospitals or
addiction treatment centers;
d. No ad shall be allowed that promotes overconsumption or boisterous/party
behaviors. Additionally, all alcohol advertisements must be followed with an
advertisement that speaks to the safe consumption of alcohol, for example, "Drink,
Responsibly Miami Beach"; and
e. All advertising for alcoholic beverages must include the disclaimer below as
mandated by the Alcoholic Beverage Labeling Act("ABLA") of 1988.
Advertising Removal. Any prohibited material, in violation of this section, or unacceptable
material, as determined by the City Manager, in the City Manager's sole discretion, which is
displayed or placed, shall be removed immediately upon written notice to IKE to remove said
advertising.
Performance Bond or Alternate Security. A Performance Bond, in the amount of One
Hundred Thousand ($100,000.00) Dollars, shall be provided by IKE in faithful observance of the
Agreement. •
City Advertising Rights. City-directed content will occupy at least sixty-six percent(66%)of
the screen area on each of the kiosks during the interactive mode. During Passive Mode, at least
one (1) spot out of every eight (8) spots shown on a kiosk screen will contain City-directed content.
All spots shall be of equal duration. City-directed content may also be displayed during any unsold
spots, as available.
Additionally, IKE will provide the City with $550,000.00 in free advertising time annually on
its network of kiosks and large-format signs installed across the continental United States; and
WHEREAS, during the June 28, 2023 City Commission meeting, the Administration
recommended that the Mayor and City Commission approve the essential negotiated business terms
for the Agreement with IKE, a copy of which were attached to the City Commission Memorandum
accompanying the Resolution as Attachment A, pursuant to Request For Proposals(RFP) No. 2022-
040-KB, to Design, Manufacture, Install, Maintain, and Operate Interactive Digital Media Kiosks; and
that the City Manager and City Clerk be authorized to execute an agreement with IKE consistent
with the approved terms; and
WHEREAS, on June 28, 2023, the City Commission, by a vote of 5/7th, adopted Resolution
No. 2023-32627, approving the essential business terms for an Agreement with IKE, with the
following amendments: (1) the installation of any additional kiosks, exceeding the original fifteen,
shall be subject to approval by the City Commission; and (2) the maintenance standards for the
kiosks shall include the requirement that the kiosk be maintained in "like-new condition" throughout
the term of the Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby approve the
essential business terms for the Agreement with IKE Smart City, LLC ("IKE"), pursuant to Request
For Proposals (RFP) No. 2022-040-KB, to Design, Manufacture, Install, Maintain, and Operate
Interactive Digital Media Kiosks; and further authorize the City Manager and City Clerk to execute
an agreement with IKE consistent with the approved terms. .
PASSED and ADOPTED this 28th day of June, 2023. •
ATTEST:
Dan Gelber, Mayor
JUL 282023
Rafael E. Granado, City Clerk . = •
'1INCORP ORATE Di
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
City Attorney Date
111
Agenda Item 6 2ff
Date d:?t%a3
MIAMI BEACH
•
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139 I www.miamibeachfl.gov
COMMISSION MEMORANDUM
TO: Mayor Dan Gelber and Members of the City Commission
FROM: Alina T. Hudak, City Maria.-
F
DATE: June 28, 2023 •
SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI
BEACH, FLORIDA, APPROVING THE ESSENTIAL BUSINESS TERMS OF AN
AGREEMENT WITH IKE SMART CITY, LLC (IKE),AS MORE PARTICULARLY SET
FORTH IN THE CITY COMMISSION MEMORANDUM ACCOMPANYING THIS
RESOLUTION, PURSUANT TO REQUEST FOR PROPOSALS (RFP) NO.2022-040-
KB TO DESIGN, MANUFACTURE, INSTALL, OPERATE, AND MAINTAIN
INTERACTIVE DIGITAL MEDIA KIOSKS;AND FURTHER AUTHORIZING THE CITY
MANAGER AND CITY CLERK TO EXECUTE AN AGREEMENT WITH IKE
CONSISTENT WITH THE APPROVED TERMS.
RECOMMENDATION
It is recommended that the Mayor and City Commission approve the essential terms of an
agreement with IKE Smart City, LLC("IKE"), pursuant to Request For Proposals (RFP) No. 2022-
040-KB, for the installation, maintenance, and operation of Interactive Digital Media Kiosks. The
Resolution authorizes the City Manager and City Clerk to execute the agreement consistent with
the approved terms.
BACKGROUND/HISTORY
On August 25, 2021, the Administration received an unsolicited proposal from IKE Smart City to
manufacture, install, maintain, and operate interactive digital media kiosks at certain sites
throughout the City. Unsolicited proposals are subject to Section 255.065, Florida Statutes.
On January 20, 2022, the Mayor and City Commission approved Resolution 2022-31989
accepting the unsolicited proposal pursuant to section 255.065 of the Florida Statutes and
authorizing the Administration to issue Request for Proposals (RFP) No. 2022-040-KB seeking
proposals from other interested parties for the same project purpose as the unsolicited proposal.
On April 12, 2022, the RFP was issued, and proposals were received on July 15, 2022.
On August 10, 2022, the Evaluation Committee appointed by the City Manager evaluated the
proposals received in response to the RFP and ranked the proposals in the following order:
1st ranked — IKE
2nd ranked —Smart City Media
3rd ranked — HootBoard
On December 14, 2022, via Resolution 2022-32422, the Mayor and City Commission authorized
the Administration to enter into negotiations with IKE, the top-ranked proposer, and if
unsuccessful, to negotiate with Smart City Media, the second-ranked proposer. The Resolution
provided that the final negotiated agreement be subject to prior approval of the Mayor and City
Commission.
2 I Approve Agreement Terms—RFP 2022-040-KB Digital Kiosks(June 28,2023)
ANALYSIS
As directed by the City Commission, staff has negotiated an agreement with IKE. The material
terms of the Agreement are attached hereto as Attachment'A. The most significant terms are
highlighted below. -
Locations. All locations require the approval of the City Manager. The initial installation
will include 15 kiosks at the approximate locations noted in Attachment B. The parties,
with the prior approval of the City Manager, may mutually agree to an additional 15 kiosks.
The maximum number of kiosks allowed under the Agreement is 30 without prior approval
of the City Commission for any additional units.
Note: In accordance with Section 4 of the Agreement with Outfront Media
for bus shelters, the City will not permit the installation of an.IKE kiosk within
250 feet from the closest edge of any Bus Shelter(the "Exclusivity Zone"),
except on any portion of Lincoln Road, even if certain parts of Lincoln Road
fall within the Exclusivity Zone.
Term. The term of the Agreement shall be for ten (10) years with an additional automatic
ten (10)year renewal, subject to certain conditions as outlined in the attached term sheet.
The initial term shall commence upon installation of the 15th kiosk or one year from the
effective date, whichever occurs first.
Termination For Convenience Of The City. Commencing at the expiration of the 16th
year from the effective.date of the Agreement,the City may also,through its City Manager,
and for its convenience and without cause, terminate this agreement. Termination shall
become effective within thirty(30)days following receipt by the company of such notice.
Kiosk Revenue.
a. Non-Refundable Prepayment(Escrow). Within five(5)calendar days from
the Effective Date, IKE will provide a $1,000,000.00 non-refundable advance payment to
the City, to be placed in escrow and used as a credit towards future Kiosk Revenue
payments. Future payments owed to the City will be deducted from the escrowed funds
until escrowed funds are exhausted.
b. Minimum Annual Guaranty Payment (MG). IKE will pay to the City
$20,000.00 annually (paid quarterly) per kiosk during the first term year. Each year
thereafter, the minimum guaranty will increase by two .percent (2%) over the minimum
annual guaranty payable in the immediately preceding term year.
c. Revenue Share. Annually IKE shall pay to the City 40% (less the minimum
guaranty) of grass revenues earned by IKE Smart City in the preceding term year with
respect to the operation of all the kiosks.
Note: The potential revenue to be yielded by the City, as projected by IKE
Smart City in its proposal, is included in Attachment D.
Advertising Restrictions. The Agreement contains the following prohibitions on
advertisements.
a. strobing effect or visuals that replicate a traffic sign in colors and words, including but
not limited to a red sign with the words "Stop" or a yellow sign with the words "LOOK";
b. false or misleading;
c. material that is immoral, lascivious, or obscene as defined in Section 847.001, Florida
Statutes;
d. no advertising shall be for businesses engaged in any activity that requires the
exclusion of minors pursuant to Chapter 847, Florida Statutes;
•
3 I Approve Agreement Terms—RFP 2022-040-KB Digital Kiosks(June 28,2023)
e. promotes unlawful or illegal goods, services, or activities;
f. tobacco or tobacco-related products, including electronic cigarettes;
g. firearms;
h. sexual services, programs, or products;
i. political candidates or political issues, campaigns; and
j. competitive products included in the current citywide exclusive sponsorship
agreements with Red Bull and Pepsi; provided, however, Company shall not be
obligated to comply with this restriction with respect to (A) more than (1) citywide
exclusive pouring rights sponsor for non-alcoholic beverages categories other than
energy drinks, and one (1) citywide exclusive pouring rights sponsor for non-alcoholic
energy drinks at any given time during the Term or (B) two (2) citywide exclusive
sponsorship agreements with non-alcoholic pouring rights providers per Term Year of
the Term; and
k. Advertisement relating to medical marijuana; and
I. any such additional category of advertising that may be added by the Mayor and City
Commission, as notified in writing to IKE.
m. Advertising of alcoholic beverages, as defined by Section 561.01, Florida Statutes,
shall be permitted with the following restrictions:
i. No advertising for alcoholic beverages shall be within 250 feet of any type
of public or private school, including pre-schools, elementary schools,
middle schools, high schools, colleges, and universities;
ii. No advertising for alcoholic beverages shall be within 250 feet of houses
of worship, including churches, synagogues, temples, and mosques;
iii. No advertising for alcoholic beverages shall be within 250 feet of
Hospitals or addiction treatment centers;
iv. No ad shall be allowed that promotes overconsumption or
boisterous/party behaviors. Additionally,all alcohol advertisements must
be followed with an advertisement that speaks to the safe consumption of
alcohol, for example, "Drink Responsibly Miami Beach"; and
v. All advertising for alcoholic beverages must include the disclaimer below
as mandated by the Alcoholic Beverage Labeling Act("ABLA") of 1988.
Advertising Removal. Any prohibited material, in violation of this section, or unacceptable
material, as determined by the City Manager, in the City Manager's sole discretion, which
is displayed or placed, shall be removed immediately upon written notice to IKE to remove
said advertising.
Performance Bond or Alternate Security. A Performance Bond, in the amount of One
Hundred Thousand ($100,000.00) Dollars, shall be provided by the IKE in faithful
observance of this Agreement.
City Advertising Rights. City-directed content will occupy at least sixty-six percent(66%)
of the screen area on each of the kiosks during the interactive mode. During Passive
Mode,at least one(1)spot out of every eight(8)spots shown on a kiosk screen will contain
City directed content. All spots shall be of equal duration. City-directed content may also
be displayed during any unsold spots, as available.
Lastly, IKE shall provide the City with $550,000.00 in free advertising time annually on its
network of kiosks and large-format signs installed across the continental United States.
4 I Approve Agreement Terms—RFP 2022-040-KB Digital Kiosks(June 28,2023)
FINANCIAL INFORMATION
The agreement for this project will be revenue generating for the City equal to the greater of the
total amount of Minimum Annual Guaranty ("MG") payments received by the City during a
particular term year or the total annual Percentage of Gross Revenue ("PG") payment for the
particular term year. The MG is in the amount of $20,000.00 annually per kiosk, during the first
term year, commencing from the first date a kiosk becomes operational, with annual escalations
of 2% per term year thereafter. The MG payment is paid quarterly during each term year.
Additionally, the revenue share is equal to forty percent (40%) of the annual Gross Revenues
("PG")earned by IKE with respect to the operation of all the installed IKE kiosks during each term
year.At the end of each term year, IKE will provide the City with a reconciliation. If the PG amount
for the term year is more than the MG payments received during the given term year, then IKE
will pay the City the excess amount over the MG payments received for the term year. If the
annual PG amount was less than the total MG payments received by the City during the given
term year, then IKE will not have to remit any additional sums to the City for that respective term
year. The anticipated financial yield for the City provided by IKE is attached hereto as Attachment
D.
CONCLUSION
The Administration recommends that the Mayor and City Commission approve the essential
business terms of an agreement with IKE Smart City, LLC, pursuant to Request For Proposals
(RFP) No. 2022-040-KB, to design, manufacture, install, maintain, and operate interactive digital
media kiosks. If the material terms are approved by the City Commission, the Administration and
the City Attorney's Office will work with IKE to finalize the Agreement. The Resolution authorizes
the City Manager and City Clerk to execute an agreement with IKE consistent with the approved
terms. -
EC/JG /AD / KB
ATTACHMENTS:
A— Material Terms
B— Kiosk Locations
C— Kiosk Designs
D- IKE Smart City Revenue Projections
Attachment A
Material Terms
AGREEMENT
BETWEEN
THE CITY OF MIAMI BEACH
AND
IKE SMART CITY, LLC
TERM SHEET
Locations: The City Manager will initially approve fifteen (15) IKE Kiosks ("Phase 1"), with the
final location to be subject to the-approval of the City Manager. The City Manager may also
approve, at the sole discretion of the City Manager, up to fifteen(15)additional IKE Kiosks("Phase
2") during the.Term, for a total number not to exceed thirty (30) IKE Kiosks during the Term (the
"Operational Ceiling"). The location and installation of any Phase 2 IKE Kiosks approved by the
City Manager shall be subject to the mutual approval of the parties.
Non-Exclusive Grant of Rights: The City has executed an agreement, dated October 22, 2021
(the "Bus Shelter Agreement"), with Outfront Media Group, LLC ("Outfront"). This Agreement,
and in particular the possible Locations for the IKE Kiosks, shall be subject to the rights granted
by the City to Outfront with respect to the Bus Shelter Zone. Without limiting the foregoing, the
rights granted in this Agreement to the Company are non-exclusive; provided, however, that the
City agrees not to install, or permit or allow the installation of, any other Advertising Freestanding
Kiosk within 250 feet from the closest edge of any Installed IKE Kiosk(the "IKE Kiosk Exclusivity
Zone"). The foregoing limited exclusivity is intended to solely limit Advertising Freestanding Kiosk
within the IKE Kiosk Ex clusivity Zone. For the sake of clarity and without modifying the foregoing
limited exclusivity,the City or a City's contractor shall not be prohibited from displaying advertising
on any other type of temporary or permanent structure within the IKE Kiosk Exclusivity Zone
including, without limitation, water fountain; garbage cans; ashtrays; kiosks related to a rental
sharing program for bicycles or other mobility devices; bicycles or any other mobility devices;
special events related kiosks, tables, stands, etc.; or property owned or controlled by the City
including, without limitation, parking facilities, buildings, Parks, or other similar facilities.
Ownership/Maintenance: IKE owns the IKE Kiosks and, at its sole cost and expense, shall be
solely responsible for the day today operation, maintenance and repair of all Locations and any
equipment thereon including, without limitation, the IKE Kiosks.
Term: The term of this Agreement shall be for a period commencing upon the Effective Date and
expiring on the tenth (10th) year immediately following the date that is the earlier of (a) the
Operational Date for'the fifteenth (15th) IKE Kiosk to be installed, or (b) the date that is one (1)
year from the Effective Date (the "Initial Term").
Renewal Term: The Agreement shall automatically renew for one (1)additional renewal term of
ten (10) years (the "Renewal Term," and together with the Initial Term, the "Term"); provided that
Company satisfied the Renewal Criteria, as defined below, as of the end of the Initial Term.
The(term "Renewal Criteria", as used herein, means during the last twelve (12) consecutive full
month period of the Initial Term (a) Company shall have deployed monthly updates to the
Software for the IKE Kiosks, (b) Company shall not have been in default beyond any applicable
notice and cure period with respect to its maintenance, repair, and replacement obligations
required by the Agreement, including satisfying monitoring obligations, obligations to replace the
IKE Kiosks or their component parts to ensure functionality, and obligations to ensure the
Software is functional for its purposes, (c) Company has electronic monitoring for each IKE kiosk
24 hours per day/7 days per week, to ensure that all software is operable and shall have remedied
any interruptions or malfunctions in the software as soon as reasonably practicable,ensuring that
the IKE Kiosks are operation in accordance with the terms of this Agreement, (d) Company has
replaced any hardware components or internal networking components as needed, ensuring that
the IKE Kiosks are operation in accordance with the terms of this Agreement (e) Company shall
not be in default beyond any applicable notice and cure period with respect to its obligations to
pay the Kiosk Revenue, (f) Company has kept the applications and features and other content on
the IKE Kiosks up to date and otherwise in compliance with the content management plan
developed by Company and City and pursuant to the terms of this Agreement, and(g) during the
Initial Term, Company will have maintained all of the IKE Kiosks in the IKE Kiosk network in like
new condition. -
Term Year: The term "Term Year" means each successive twelve(12)month period of the Term,
with the first Term Year commencing on the Operational Date of the first Installed IKE Kiosk and
expiring twelve (12) months thereafter.
Termination Rights:
In the event that the applications for the Required Approvals and installation permits for the
installation of the first IKE Kiosk are not submitted to the City within six (6)1 months from the
Effective Date of the Agreement or applications for the Required Approvals and installation
permits for the installation of the first fifteen (15) IKE Kiosks are not submitted to the City within
one (1) year from the Effective Date, either party may terminate the Agreement, and the Non-
Refundable Advance Payment received by the City up to that point shall be considered earned
and non-refundable.
TERMINATION FOR CONVENIENCE OF THE CITY. COMMENCING AS OF THE
EXPIRATION OF THE SIXTEENTH (16TH)YEAR FOLLOWING THE EFFECTIVE DATE OF THE
AGREEMENT, THE CITY MAY ALSO, THROUGH ITS CITY MANAGER, AND FOR ITS
CONVENIENCE AND WITHOUT CAUSE, TERMINATE THIS AGREEMENT IN WHOLE, OR IN
PART, BY TERMINATING ONE OR MORE INSTALLED IKE KIOSKS(EACH A"TERMINATED
INSTALLED IKE KIOSK"), BY GIVING WRITTEN NOTICE TO COMPANY OF SUCH
TERMINATION; WHICH SHALL BECOME EFFECTIVE WITHIN THIRTY (30) DAYS
FOLLOWING RECEIPT BY THE COMPANY OF SUCH NOTICE; IF THE AGREEMENT IS
TERMINATED FOR CONVENIENCE BY THE CITY UNDER THIS SECTION, COMPANY
SHALL PAY THE CITY FOR ANY SUMS DUE UP TO THE DATE OF TERMINATION;
FOLLOWING WHICH THE CITY SHALL BE DISCHARGED FROM ANY AND ALL
LIABILITIES, DUTIES, AND TERMS ARISING OUT OF, OR BY VIRTUE OF, THIS
AGREEMENT.
Kiosk Revenue:
a. Non-Refundable Prepayment. Within -five (5) calendar days from the
Effective Date, Company will provide a $1,000,000.00 non-refundable advance payment
("Non-Refundable Advance Payment") to the City, to be used as a credit towards future
Kiosk Revenue payments.
b. Minimum Annual Guaranty Payment (MG). The term "Minimum Annual
Guaranty"means an amount equal to$20,000.00 annually perinstalled IKE Kiosk, during
the first Term Year (as defined herein), commencing from the first date in which an IKE
Kiosk becomes operational ("Initial Operational Date"), payable in quarterly payments of
$5,000 per quarter.
The Minimum Annual Guaranty payment per Installed IKE Kiosk shall increase
on the first day of each Term Year thereafter by an amount equal to two percent (2%)
over the Minimum Annual Guaranty payable in the immediately preceding Term Year.
c. Revenue Share. Company shall pay to the City an amount equal to the
greater of the (a) Revenue Share(as defined herein) applicable to a given Term Year and
(b) the Minimum Annual Guaranty applicable to such Term Year, paid quarterly as set
forth in subpart b, above (the "Kiosk Revenue"). The term "Revenue Share" means an
amount equal to forty percent (40%) of the annual Gross Revenues earned by Company
with respect to the operation of all the Installed IKE Kiosks during each Term Year.
Within thirty(30)days following end of each Term Year, the Company shall submit,
together with the Company's annual statement of Gross'Revenues for the immediately
preceding Term Year,, Company shall provide the City with a reconciliation statement
reflecting the difference between the Minimum Annual Guaranty and the annual Revenue
Share ("Reconciliation Statement"), along with the payment due to the City. If a
Reconciliation Statement shows that the amount of the Revenue Share payable during a
Term Year exceeded the Minimum Annual Guaranty applicable to such Term Year, then
the Company shall also remit to the City the difference between the Minimum Annual
Guaranty paid during such Term Year and the Revenue Share applicable to such Term
Year, subject to any audit findings. If a Reconciliation Statement shows that the amount
of Revenue Share payable during a Term Year is less than the Minimum Annual Guaranty
applicable to such Term Year, then Company shall be deemed to have satisfied its
obligation to pay the Kiosk Revenue for such Term Year, subject to any audit findings.
Default and Remedies; Bond; Surrender:
1. Bankruptcy. If either the City or Company shall be adjudged
bankrupt or insolvent, or if any receiver or trustee of all or any part of the business
property of either party shall be appointed.
2. Default in Payment
In the event Company fails to submit any payment within five (5) days,of its due
date, there shall be a late charge of five percent(5%)of the payment amount due,
in addition to, and not in lieu of, the interest at the rate of eighteen percent (18%)
per annum or the highest rate allowable by law, whichever is less. If any payment
and accumulated penalties are not received within fifteen (15) days following
receipt of written notice from the City of such failure, then the City may, without
further demand or notice, terminate this Agreement without being prejudiced as to
any remedies which may be available to it for breach of contract; and may begin
procedures to collect the Performance Bond required in Section (b) herein.
3. Non-Monetary Default. In the event that Company or the City fails
to reasonably perform or observe the non-monetary covenants,terms or provisions
under this Agreement (excluding Subsections (4) and (5)), and such failure
continues thirty (30) days after written notice thereof from the other party hereto,
such non-defaulting party may immediately or at any time thereafter, and without
further demand or notice, terminate this Agreement without being prejudiced as to
any remedies which may be available to it for breach of contract. In the event that
a default is not reasonably susceptible to being cured within such period, the
defaulting party shall not be considered in default if it shall, within such period,
commence with due diligence and dispatch to cure such default and thereafter
completes with dispatch and due diligence the curing of such default, but in'no
event shall such extended cure period exceed ninety (90) days from the date of
written notice thereof. In the event Company cures any default pursuant to this
subsection, it shall promptly provide the City Manager with written notice of same.
4. Continuous Operation. The failure of any IKE Kiosk to be
operational for a period of time exceeding fifteen (15) continuous calendar days,
after written notice from the City, shall constitute a.default under this Agreement.
No additional cure period shall apply to a default under this Subsection 18(a)(3).
Notwithstanding the foregoing, Company shall not be in default under this Section
18(a)(3) in connection with any downtime resulting from the City's action, a utility
company's action or a force majeure event.
5. Florida Public Records Law. The failure of Company to comply with
the requirements of Section 20, if such failure continues for more than thirty (30)
days after Company's receipt of written notice thereof from the City.
6. City's Remedies for Company's Default. right to give to Company
a notice of termination of this Agreement; In addition to the rights set forth above,
the City shall have the rights to pursue any and all of the following:
a. the right to injunction or other similar relief available to it
under Florida law against Company; and or
b. the rightto maintain any and all actions at law or suits in
equity or other proper proceedings to obtain damages resulting from
Company's default.
7. If an event of default by the City shall occur, the Company may,
after expiration of the cure periods, as provided above, terminate this Agreement
upon written notice to the City.
Performance Bond or Alternate Security: A Performance Bond, in the amount of One Hundred
Thousand ($100,000.00) Dollars, shall be provided by the Company in faithful observance of this
Agreement.
Advertising Content/Standards:
(a) While the City understands the need to maximize advertising revenue, the City is
also interested in maintaining a pleasant and aesthetic image and ensure the quality-of-life of its
residents. The City Manager may request removal of any advertisement displayed or placed on
an IKE Kiosk that is otherwise prohibited by this subpart.
(b) Company is solely responsible for all design, development, production, redesign,
removal, and installation of advertising.
(c) Company shall provide, install, and maintain high quality, professionally designed
commercial advertising displays on the IKE Kiosks. Company shall adhere to generally accepted
principles of advertising in relation to good taste and truth in advertising. No advertising which is
considered objectionable and offensive in its content or method of presentation shall be
displayed. Whenever a question arises as to the propriety of an advertisement, prior to its
installation, Company is required to submit the advertisement work to the City's Contract Manager
for review and approval.
(d) Company shall comply with the City's Advertising Guidelines, which guidelines are
set forth in this subpart. Company shall neither accept for display, install, display nor maintain
any advertisement that falls within one or more of the following categories;
(1) Has a strobing effect or visually replicates a traffic sign in colors and words,
including but not limited to a red sign with the words"Stop", or a yellow sign with the words
"LOOK", with the intent of falsely presenting themselves as emergency or official
governmental signs. The City understands that words like "look" and "stop" may be used
casually in advertisements, but should not be incorporated as the main call out message,
paired with full color backgrounds of traditional traffic or safety colors (red, yellow,
orange).;
(2) false or misleading;
(3) material that is immoral, lascivious, or obscene as defined in Section
'847.001, Florida Statutes;
. (4) no advertising shall be for businesses engaged in any activity that requires
the exclusion of minors pursuant to Chapter 847, Florida Statutes;
(5) promotes unlawful or illegal goods, services or activities;
(6) tobacco or tobacco related products including electronic cigarettes;
(7) firearms;
(8) sexual services, programs or products;
(9) political candidates or political issues, campaigns; and
(10) competitive products included in any citywide exclusive sponsorship
agreement with non-alcoholic pouring rights providers, as notified in writing to Company
at least 90 days prior to the date on which the sponsorship begins; provided, however,
Company shall not be obligated to comply with this restriction with respect to more than
(A) one (1) citywide exclusive pouring rights sponsor for non-alcoholic beverages
categories other than energy drinks, and one(1)citywide exclusive pouring rights sponsor
for non-alcoholic energy drinks at any given time during the Term and (B)two (2) citywide
exclusive sponsorship agreements with non-alcoholic pouring rights providers per Term
Year of the Term. As of the Effective Date of this Agreement the City has executed an
exclusive pouring rights agreement with PepsiCo for all non-alcoholic beverage
categories, including but not limited soda, water, juice, iced tea, isotonics, and an
exclusive pouring rights agreement with Red Bull for the non-alcoholic energy drink
beverage category, as such, advertising of any competing products is prohibited; and
(11) Advertisement relating to medical marijuana; and
(12) any such additional category of advertising that may be added by the Mayor
and City Commission, as notified in writing to Company.
(e) Advertising of alcoholic beverages, as defined by Section 561.01, Florida
Statutes, shall be permitted with the following restrictions:
(1) No advertising for alcoholic beverages shall be within 250 feet of
any type of public or private school, including pre-schools, elementary
schools, middle schools, high schools, colleges, and universities;
(2) No advertising for alcoholic beverages shall be within 250 feet of
houses of worship, including churches, synagogues, temples, and mosques;
(3) No advertising for alcoholic beverages shall be within 250 feet of
Hospitals or addiction treatment centers;
(4) No ad shall be allowed that promotes over consumption or
boisterous/party behaviors. Additionally, all alcohol advertisements must be
followed with an advertisement that speaks to safe consumption of alcohol,,
example "Drink Responsibly Miami Beach"; and
(5) All advertising for alcoholic beverages must include the disclaimer
below as mandated by the Alcoholic Beverage Labeling Act ("ABLA") of
1988. Government warning disclaimer must be equal to at least 10% of the
size of the ad: "GOVERNMENT WARNING: (1) According to the Surgeon
General, women should not drink alcoholic beverages during pregnancy
because of the risk of birth defects. (2) Consumption of alcoholic beverages
impairs your ability to drive a car or operate machinery, and may cause health
problems."
(f) Advertising Removal. Any prohibited material, in violation of this section, or
unacceptable material, as determined by the City Manager, in the City Manager's sole discretion,
which is displayed or placed, shall be removed immediately upon written notice to Company to
remove said advertising, which notice may be sent via e-mail at:
realestate@orangebarrelmedia.com, from the City Manager or City's Contract Manager. In the
event Company fails to remove the advertising within 24 hours of receipt of the City's written
notice, the City may take necessary actions to remove the advertisement. Company is obligated
to reimburse the City for actions taken under this provision. The City is not liable for any damages
in connection therewith.
Public Benefits:
(a) City Content. City Directed Content will be shown on the IKE Kiosks in
accordance with the following schedule:
(1) During Interactive Mode, City Directed Content will occupy a minimum of sixty-six
percent(66%) of the screen area on each of the IKE Kiosks.
(2) During Passive Mode, at least one (1) Spot out of every eight(8) Spots shown on
an IKE Kiosk screen will contain City Directed Content. All Spots shall be of equal
duration. City Directed Content may also be displayed during any unsold Spots, as
available.
(b) Additional Advertising Opportunities. The.Company shall provide the City with
$550,000.00 in free advertising time annually on its network of IKE Kiosks and large-format signs
installed across the continental United States. The City shall provide the copy for the
advertisements to the Company in a format capable of being displayed on the IKE Kiosks and
large-format signs, and the content of such advertisements shall be limited to conveying
information about the City for the purpose of attracting visitors to Miami Beach. The Company
shall have discretion in determining when and where to display the advertising provided by the
City.
Ike Kiosk Services and Applications: The IKE Kiosks may display the following applications:
(a) Wayfinding, including multimodal mapping to destinations (including real time
arrival and departure information), businesses and other points of interest (sorted into
freestanding apps such as Eat, Play, Shop, Stay);
(b) Getting Around, including real-time arrival and departure information for public
transit, bike share and car share services all accessed from an interactive map;
(c) Question of the Week, allowing for City to survey the public on its opinions and
ideas;
(d) City Content at No Cost to City, including, without limitation, Public Service
Announcements, Events (including a comprehensive event and activity listing for City),
community, art, commercial messaging and other messaging for City programs;
(e) Jobs, including career and internship postings within City, arranged geographically
to encourage workforce development;
(f) Photobooth, including customized City-themed background postcards and social
media integration;
(g) Emergency Communication, including a protocol for real-time posting of essential
City communication such as, without limitation, storm warnings, amber alerts and road closures.
These alerts shall be posted by Company immediately upon receipt of the information from the
City; •
(h) Pedestrian Counting, including wireless-based measurement of pedestrians within
range of the IKE unit, and a web-based dashboard containing analytics for City's use;
(i) Air Quality Monitoring, including relaying data to City on a regular basis;
(j) Arcade, including video games and other applications used to encourage user
engagement, employing the unique touch-screen capabilities of the IKE Kiosks;
(k) Directory signs, including the listing of businesses and other points of interest
within the City, and
(I) Security Camera, each IKE Kiosk shall be equipped with,a security camera having
digital video recorder technology, with the footage being maintained a 'minimum of fourteen (14)
days and will be made available to the City pursuant to a dashboard access or upon the City's
request. The footage shall be available in a format that is accessible and playable as a video by
the City's integration system.
IKE Kiosk Features:
(a) Capability to resist graffiti or allow for easy removal of graffiti and application of
touch-up paint; V
(b) Weatherproof, ability to operate at high heat and humidity without breakdown;
and resistant to hurricane force winds;
(c) Touch screen technology shall be the primary interface of the device, with display
of advertising, as permitted under this Agreement, when passive, but upon engagement by a
user, the advertising must be minimized or eliminated to take secondary, position to interactive
content; with filtering to search by category of activity;
(d) directory shall be equipped with the ability to connect with smart phones that can
direct user to a web based information; customized mapping and way finding to points of
interest; real time public transit; integration of social media; and other Smart City technologies;
(e) Fully American with Disabilities Act (ADA) compliant, including adjusting height of
content and interactive features for users in wheelchairs. Each IKE Kiosk must meet ADA
regulations including approach height/reach requirements and accessibility for visually impaired;
(f) The directory shall allow for opportunities to incorporate accessible technologies
for the visually impaired;
(g) ability to switch between English and Spanish with support for other languages if
required at a later date;
(h) include procedure for ensuring the contacts are up to date, accurate and
relevant; software to provide for remote, easy and efficient additions and deletions of data and
content, including graphics and photographs; and
(i) Company shall be responsible for daily management of content, some of which
may be static, some will change periodically and some will change constantly, such as
promotions and events; and integrate the City's existing graphical palette into the
program/software; Company shall provide the all of the content for the Kiosk including, without
limitation, photographs, images, narratives, business and building names and addresses, goods
and services provided by businesses, as well as attractions and events.
Other Standard City Contract Provisions: The final agreement shall also include, without
limitation, Public Records Law; Office of Inspector General Provision; Force Majeure; Insurance
and Indemnification provisions; and other standard provisions contained in similar City
Agreements.
Attachment B
Kiosk Locations
• All locations identified are for illustrative purposes only.
• All kiosks must comply with the exclusivity zone requirements of the City's bus shelter
agreement.
• All locations require the approval of the City Manager.
PROPOSED IKE KIOSK LOCATIONS: 30 TOTAL
• 'At*46th St Q IV 47th St3.
t
a Z o
4 W 46th St a'
i m e
• o v
t E W 45th St Q
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•
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d t,
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wt.
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�� •I Alton Rd °t'4,4 `N a'1-St -IY t U
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df'g W41st St W41stSt
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•
• • w 34th SI 4 r 2� ¢ K . {
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sa
• Be& rry St H'37th St ..
• �t ": { 4,..., 38th st
v • a z
99 t
W 34th St n
/ d < •
Chase .!,_/ E <
1w W 33rd y
a` $ t ' ... y� .,,
/ I
• = PHASE t • = PHASE 2
All IKE kiosk locations are subject to shift as technical due diligence is completed by IKE's local civil engineer. This includes identifying a power source,ensuring that all
locations are sited for ADA compliance and with appropriate setbacks from the curb or other objects in the right-of-way,and confirming that there are no underground
utility conflicts.All IKE kiosk locations will be at least 250'from the closest edge of any bus shelter,with the exception of IKE kiosk installations on Lincoln Road.
2023 IKE SMART CITY I Kiosk Locations B Advertising Concepts
PROPOSED IKE KIOSK LOCATIONS: 30 TOTAL (CONT.)
m
} O 24zthsmS tt4
t W 27th St o i G ot
/LL c .
D t 5� a •! 1- w7,th St
• 1
IP W 24th St W 24th St
i W23rd ./ 4c
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W 23rd St W 23rd St D` e�g �a I
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/
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v .
•
19 / 0"0 18th St •
18th Si Vade 18tn St
• * 9 m
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• c 0$ 17U St 17th St 17th St
� 17U St
• venetian Wa't aY _ 3 A I N
m ' n �•�Lincoln t ? D
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n
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^ � y
g. 16th St•
/ 16th St 16th St 16th St '
!J ' r
i
{
m 15th Terrace I. t";
• = PHASE 7 • = PHASE 2
All IKE kiosk locations are subject to shift as technical due diligence is completed by IKE's local civil engineer. This includes identifying a power source,ensuring that all
locations are sited for ADA compliance and with appropriate setbacks from the curb or other objects in the right-of-way,and confirming that there are no underground
utility conflicts.All IKE kiosk locations will be at least 250'from the closest edge of any bus shelter,with the exception of IKE kiosk installations on Lincoln Road.
2023 IKE SMART CITY 1 Kiosk Locations&Advertising Concepts
PROPOSED IKE KIOSK LOCATIONS: 30 TOTAL (CONT.)
co I.n I eI l aLe N
t
t, = 15th 5! {
o •
• 1p i _ o "�' c 'alai,
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• 14th St 14th St ____ 14th St `4
•
13th St p
Se 13th St 13th St �:- " p
• ?
•
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i al `n 12th Sti 12th St 12th r -i
1� 1 lth St lltn st
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• 9th St 9th St 9th St ..,.i
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8th St s at
8th St 0
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m 4' I k;
7th St m y 7th St
7th St y
m l
6th St rr, Z." 4
6th St n ," 6th...St
• = PHASE 1 ♦ = PHASE 2
All IKE kiosk locations are subject to shift as technical due diligence is completed by IKE's local civil engineer. This includes identifying a power source,ensuring that all
locations are sited for ADA compliance and with appropriate setbacks from the curb or other objects in the right-of-way,and confirming that there are no underground
utility conflicts.All IKE kiosk locations will be at least 250'from the closest edge of any bus shelter,with the exception of IKE kiosk installations on Lincoln Road.
2023 IKE SMART CITY 1 Kiosk Locations&Advertising Concepts
PROPOSED IKE KIOSK LOCATIONS: 30 TOTAL (CONT.)
6th St m o
6th St c i`
0
C. • ^F fib.
-i
♦ t- A ' 5th St
)♦ 4th St m g 4th -'
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♦ ♦ t♦ 'py 2nd St y Fr "I
o 2nd St
♦ ..
t \
♦ tstSt c
,,,...,
ti w :
9 - South Pointe Dr South Pointe Dr
99 v
.t•-. /140pe: I
• = PHASE 1 • = PHASE 2
All IKE kiosk locations are subject to shift as technical due diligence is completed by IKE's local civil engineer. This includes identifying a power source,ensuring that all
locations are sited for ADA compliance and with appropriate setbacks from the curb or other objects in the right-of-way,and confirming that there are no underground
utility conflicts.All IKE kiosk locations will be at least 250'from the closest edge of any bus shelter,with the exception of IKE kiosk installations on Lincoln Road.
2023 IKE SMART CITY I Kiosk Locations 8 Advertising Concepts
Attachment C
Kiosk Designs
1 !" , ;h '; Jeff
KIOSK DESIGN CONCEPT 1
INSPIRATION: ARCHITECTURE ,�Kz--P,?" ^' •
Miami Beach is renowned for its impressive collection of Art Deco buildings. Each OCEAN DRIVE
one is uniquely its own with different forms,zig-zags, and chevrons adorning solid- BACKLIT WAYFINDING
color backgrounds.This kiosk design uses a hard-lined geometric pattern over a soft ,;; .000
, +a►+
base color to reflect the distinctive architectural style of the City's streetscape. SOFT PAINT COLOR
. MIAMIBEACH
i ...,.. ,
i
N
Zer:(1.. J � ��I '
,i1,,,i: ______..,-..,. jai i : ;c: „ilk, . , 4
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y
•
mag
I I _ ART DECO CUSTOMIZABLE
GRAPHIC PATTERN COLOR KINETIC
awns PAS
LIGHTING
- CONFIDENTIAL& PROPRIETARY-CONTAINS TRADE SECRETS 1022 IKE SMART CITY I MIAMI BEACH RFP 36
KIOSK DESIGN CONCEPT 2
INSPIRATION: PALMS <,.rbr �\
Towering palm trees are a beloved hallmark of Miami Beach.They line the streets OCEAN DRIVE
and dot the beaches,weaving a canopy of leaves across the City. This kiosk design BACKLIT WAYFINDING -
takes cues from nature and uses a tonal pattern of palms over a neutral paint color ,;•::O TOUCH SCREEN
PALM-INSPIRED
tO seamlessly integrate with the landscape. DESIGN APPLIQUE
: _
MIAM BEACH
/JeIcenle Pt( ,,i
,t1, .. . :‘
1$4111/4 ,. ,-0.,, __
rift 44 1 . ' - - '
_ i Li,4 06. ' fir 4,4,......-
,1/,,. l' Ia
a r :itFIII 1 ", ill 'i i' , '*ilk
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i ` t =, om LL - -- it
) .
CITY LOGO —MIAMIBEACH
1 n r..as,
.41 W10
u f
..6�f � • CUST OMIZABLE
y - `4. .4.�, NEUTRAL COLOR KINETIC
�� - ' - PAINT COLOR LIGHTING
- CONFIDENTIAL& PROPRIETARY-CONTAINS TRADE SECRETS 2022 IKE SMART CITY:MIAMI BEACH RFP 38
KIOSK DESIGN CONCEPT 3
INSPIRATION: WAVES
Miami Beach is known for its soft white sands and crystal clear water. Beaches are a OCEAN DRIVE
defining characteristic of the scenery and a fundamental part of an outdoor lifestyle BACKLIT WAYFINDING
that draws residents and visitors to the area.This design pairs a light,clean paint rwo:
@TOUCH SCREEN
color with gently curved lines that mirror the rippling of the ocean to capture the
City's urban-seaside vibe. IAM BEACH
'" /tae(cenlc: ()If z
< €i _ . to
• ._ — ( 4
-4 ----1 1"
5
1111 r 1 ' .x zeii ° . d'
We "' .`
a. -. _.. WAVE-INSPIRED
---ls DESIGN APPLIQUE
- — - _ ,MIAMIBEACH
' - CITY LOGO
- _""°e • CUSTOMIZABLE
LIGHT, CLEAN COLOR KINETIC
PAINT COLOR LIGHTING
ik(. //
\ \
— CONFIDENTIAL& PROPRIETARY—CONTAINS TRADE SECRETS .2022IKE SMART CRYIMIAMI BEACHRFP 40
Attachment D
IKE Smart City Revenue Projections
• Revenue projects included in IKE Smart City's proposal in response to Request for Proposals
(RFP) 2022-040-KB Design, Manufacture, Install, Operate, and Maintain Interactive Digital
Media Kiosks.
42 REVENUE 70 THE CITY
PRO FORMA
Prepayment Lease Term U
Year 0 1 2 3 4 5 6 7 8 " 9 10
Gross Revenues
Miami Beach IKE Network(15 Units) $ 1,921,920.00 $ 2,262,374.40 $ 2,738,038.62 $ 2,820,179.78 $ 2,904,785.17 $ 2,991,928.72 $ 3,081,686.59 $ 3,174,137.18 $ 3,269,361.30 $ 3,367,442.14
Total Gross Revenues $ 1,921,920.00 $ 2,262,374.40 $ 2,738,038.62 $ 2,820,179.78 $ 2,904,785.17 $ 2,991,928.72 $ 3,081,686.59 $ 3,174,137.18 $ 3,269,361.30 $ 3,367,442.14'
Revenue Share
IKE$1MM Prepayment/Reimbursement $1,000,000.00 $ (468,768.00) $ (531,232.00) $ - $ . - $ - $ $ - $ _ $ - $ _
Minimum Annual Guarantee(MAG) 300,000.00 306,000.00 312,120.00 318,362.40 324,729.65 331,224.24 337,848.73 344,605.70 351,497.81 358,527.77
Percentage Revenue Share 468,768.00 598,949.76 783,095.45 809,709.51 837,184.42 865,547.25 894,825.91 925,049.17 956,246.71 988,449.08
Total Revenue Shareto City of Miami Beach $1,000,000.00 $ - $ 67,717.76 $ 1,095,215.45 $ 1,128,071.91 $ 1,161,914.07 $ 1,196,771.49 $ 1,232,674.63 $ 1,269,654.87 $ 1,307,744.52 $ 1,346,976.86
Lease Term
Year 11 12 13 14 15 16 17 18 19 20
Gros Revenues
Miami Beach IKE Network(15 Units) $ 3,468,465.40 $ 3,572,519.36 $ 3,679,694.95 $ 3,790,085.79 $ 3,903,788.37 $ 4,020,902.02 $ 4,141,529.08 $ 4,265,774.95 $ 4,393,748.20 $ 4,525,560.65
Total Gross Revenues $ 3,468,465.40 $ 3,572,519.36 $ 3,679,694.95 $ 3,790,085.79 $ 3,903,788.37 $ 4,020,902.02 $ 4,141,529.08 $ 4,265,774.95 $ 4,393,748.20 $ 4,525,560.65
Revenue Share
IKE$1MM Prepayment/Reimbursement $ - 5 - 5 - 5 - $ - $ - 5 - $ - $ - $
Minimum Annual Guarantee(MAG) 365,698.33 373,012.29 380,472.54 388,081.99 395,843.63 403,760.50 411,835.71 420,072.43 428,473.87 437,043.35
Percentage Revenue Share 1,021,687.83 1,055,995.45 1,091,405.44 1,127,952.33 1,165,671.72 1,204,600.31 1,244,775.92 1,286,237.55 1,329,025.41 1,373,180.91
Total RevenueShareto City ofMiamiBeach $ 1,387,386.16 $ 1,429,007.75 $ 1,471,877.98 $ 1,516,034.32 $ 1,561,515.35 $ 1,608,360.81 5 1,656,611.63 $ 1,706,309.98 $ 1,757,499.28 $ 1,810,224.26
2022 IKE SMART CITY I MIAMI BEACH RFP