Loading...
Amendment NO.5 to the Management Agreement between CMB & Global Spectrum, L.P., 201 --337,112 AMENDMENT NO. 5 TO THE MANAGEMENT AGREEMENT DATED OCTOBER 7, 2013, BETWEEN THE CITY OF MIAMI BEACH AND GLOBAL SPECTRUM L.P. D/B/A OVG360 FOR THE MIAMI BEACH CONVENTION CENTER This Amendment No. 5 to the Management Agreement, is made and entered into this day of , 2024, by and between the CITY OF MIAMI BEACH, FLORIDA, a municipal corporation having its principal office at 1700 Convention Center Drive, Miami Beach, Florida, 33139 (City), and GLOBAL SPECTRUM, L.P., d/b/a OVG360, a Delaware limited partnership, whose current address is 5050 S. Syracuse St. Suite 800, Denver, Colorado 80237("Global"). RECITALS WHEREAS, the City and Global Spectrum L.P. ("Global") are parties to a Management Agreement, dated October 7, 2013, pursuant to which the City engaged Global to manage and operate the Miami Beach Convention Center (the Management Agreement, as so amended and modified, is referred to herein as the "Agreement"); and WHEREAS, the initial term of the Agreement was three (3) years, ending on September 30, 2016, subject to the City's right to extend the term for an additional two (2) years; and WHEREAS, on October 21, 2015, in Resolution No. 2015-29191, the Mayor and City Commission approved Amendment No. 1 to the Agreement, extending the term thereof through September 30, 2020; and WHEREAS, on September 23, 2016, the City Manager accepted notice to terminate the agreement for Global as manager and operator of the Colony Theater effective, September 30, 2016; and WHEREAS, on September 12, 2018, in Resolution No. 2018-30508, the Mayor and City Commission approved Amendment No. 2 to the Agreement, extending the term thereof through September 30, 2022; and WHEREAS, on September 11, 2019, in Resolution No. 2019-30986, the Mayor and City Commission approved Amendment No. 3 to the Agreement, approving an increase in Global's monthly impress amount and establishing a Global funded annual internship contribution, among other things; and WHEREAS, on June 23, 2021, in Resolution No. 2021-31754, the Mayor and City Commission approved Amendment No. 4 to the Agreement providing for the management and maintenance, by Global, of Collins Canal Park, the two (2) clubhouse buildings formerly known as the Carl Fisher Clubhouse and Little Stage Theaters, and Pride Park, including the mangroves along Collins Canal with the footprint of the park; and provided for an additional annual fee of seventy-five thousand dollars ($75,000) in consideration of the additional scope, and extended the term of the Agreement for a period of 18 months to March 31, 2024; and WHEREAS, the extension of the agreement for 18 months resulted in the misalignment of the term of the Agreement with the City's fiscal year; and WHEREAS, this Amendment No. 5 to the Agreement will extend the term by six (6) months, from April 1, 2024, through September 30, 2024, to align with the related Sodexo Live! and Greater Miami Conventions & Visitors Bureau agreements and the City's fiscal year; and WHEREAS, the terms of the proposed Amendment No. 5 create continuity of operations during the return of international and domestic conventions, conference and destination meetings, the advancement of the convention center hotel, and to create symmetry amongst convention center related management, operations and sales agreements during a critical period of reputation growth is in the best interest of the City; and NOW, THEREFORE, in consideration of the mutual premises, covenants and agreements herein contained, and other good and valuable consideration, in receipt and adequacy of which are hereby acknowledged and intending to be legally bound, the City and Global hereby ament the Agreement as follows: 1. Recitals. The aforestated recitals are true and correct and incorporated by reference herein. 2. Extension of Term of the Agreement. The City hereby extends the Term of the Agreement (as amended hereby) for an additional six (6) months commencing on April 1, 2024, and ending on September 30, 2024. 3. No Further Modifications. Except as provided in this Amendment No. 5, the Agreement remains unmodified and in full force and effect. All references to the Agreement in the Agreement or in any other document referencing the Agreement shall be deemed to refer to the Agreement as amended hereby. IN WITNESS WHEREOF, this Amendment No. 5 has been duly executed by the parties hereto as of the day and year first above written. ATTEST: Y OF MIA CH,,FLORIDA MAR 2 6 2r04 Rafae E. Granado, City Clerk Steven Meiner, Mayor GLOBAL SPECTRUM, L.P. d/b/a OVG 0 ATTEST: Ei7cutie Vice Presiden Secretary Brian Rothenberg APPROVED AS TO Print Name FORM & LANGUAGE & FOR EXECUTION =--pS?:!•BE9.,;,.. 0,toi-atult,...--- pi i i City Attorney 3Y Oat NCOR OAATED %. 'VS! ...,— '. ..... .... ..`'? �' ,,c?i 26.