BIE - Dedicate MBCC Hotel Rent Payments (5/27/2025)
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
TO: Mayor Steven Meiner and Members of the City Commission
FROM: Eric Carpenter, City Manager
MEETING DATE: June 25, 2025
SUBJECT: BUSINESS IMPACT ESTIMATE FOR:
AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, AMENDING CHAPTER 2 OF THE
CITY CODE, ENTITLED “ADMINISTRATION,” ARTICLE V, ENTITLED
“FINANCE,” BY CREATING SECTION 2-280 THEREOF, ENTITLED
“USE OF RENT PAYMENTS RECEIVED BY THE CITY FROM
CONVENTION CENTER HOTEL LEASE,” TO DEDICATE, PURSUANT
TO THE BALLOT MEASURE APPROVED BY THE CITY’S VOTERS ON
NOVEMBER 6, 2018, THE GUARANTEED RENT PAYMENTS
RECEIVED BY THE CITY FROM THE CONVENTION CENTER HOTEL
LEASE TO ENHANCE FUNDING FOR STORMWATER PROJECTS (IN
LIEU OF RATE INCREASES), TRAFFIC REDUCTION MEASURES, AND
EDUCATION; AND REQUIRE A 5/7TH VOTE OF THE CITY
COMMISSION TO ADOPT ANY FUTURE AMENDMENT TO THIS
ORDINANCE; AND PROVIDING FOR REPEALER, CODIFICATION,
SEVERABILITY, AND AN EFFECTIVE DATE.
Is a Business Impact Estimate Required?
☐ Yes ☐ No (If no, please check one of the boxes below)
If one or more boxes are checked below, this means the City of Miami Beach has
determined that a Business Impact Estimate for the above-referenced Ordinance is not
required by State law.
☐ The proposed Ordinance is required for compliance with Federal or State law or
regulation;
☐ The proposed Ordinance relates to the issuance or refinancing of debt;
☐ The proposed Ordinance relates to the adoption of budgets or budget
amendments, including revenue sources necessary to fund the budget;
☐ The proposed Ordinance is required to implement a contract or an agreement,
including, but not limited to, any Federal, State, local, or private grant or other
financial assistance accepted by the City;
☐ The proposed Ordinance is an emergency ordinance;
☐ The Ordinance relates to procurement; or
☐ The proposed Ordinance is enacted to implement the following:
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5/23/2025 | 4:39 PM EDT
Business Impact Estimate
Page 2
a. Part II of Chapter 163, Florida Statutes, relating to growth policy, county and
municipal planning, and land development regulation, including zoning,
development orders, development agreements and development permits;
b. Sections 190.005 and 190.046, Florida Statutes, regarding community
development districts;
c. Section 553.73, Florida Statutes, relating to the Florida Building Code; or
d. Section 633.202, Florida Statutes, relating to the Florida Fire Prevention Code.
If none of the above exceptions apply, this Business Impact Estimate is hereby provided
in accordance with Section 166.041(4), Florida Statutes.
1. A summary of the proposed Ordinance and its purpose is more fully set forth in the
Commission Memorandum accompanying the Ordinance, as well as in the recitals to the
Ordinance itself, which are attached hereto.
2. The proposed Ordinance directs the use of certain revenues derived from the
Convention Center Hotel fixed lease payments.
3. Good faith estimate of the number of businesses likely to be impacted by the proposed
Ordinance: None.
4. Additional comments: None
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Ordinances - R5 {{item.number}}
COMMISSION MEMORANDUM
TO: Honorable Mayor and Members of the City Commission
FROM: City Attorney Ricardo J. Dopico
DATE: May 21, 2025 1:55 p.m. First Reading Public Hearing
TITLE: AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, AMENDING CHAPTER 2 OF THE CITY CODE,
ENTITLED “ADMINISTRATION,” ARTICLE V, ENTITLED “FINANCE,” BY
CREATING SECTION 2-280 THEREOF, ENTITLED “USE OF RENT PAYMENTS
RECEIVED BY THE CITY FROM CONVENTION CENTER HOTEL LEASE,” TO
DEDICATE, PURSUANT TO THE BALLOT MEASURE APPROVED BY THE CITY’S
VOTERS ON NOVEMBER 6, 2018, THE GUARANTEED RENT PAYMENTS
RECEIVED BY THE CITY FROM THE CONVENTION CENTER HOTEL LEASE TO
ENHANCE FUNDING FOR STORMWATER PROJECTS (IN LIEU OF RATE
INCREASES), TRAFFIC REDUCTION MEASURES, AND EDUCATION; AND
REQUIRE A 5/7TH VOTE OF THE CITY COMMISSION TO ADOPT ANY FUTURE
AMENDMENT TO THIS ORDINANCE; AND PROVIDING FOR REPEALER,
CODIFICATION, SEVERABILITY, AND AN EFFECTIVE DATE.
RECOMMENDATION
BACKGROUND/HISTORY
On November 6, 2018, the City’s voters approved a development and ground lease
agreement for the 2.6-acre property at the northeast corner of 17th Street and Convention Center
Drive for 99 years, requiring, pursuant to Resolution 2018-30425, the construction and operation
of an 800-room convention hotel to be connected to the Miami Beach Convention Center (the
“Hotel Ground Lease”); delineating conditions for the design, construction, equipping, and
operation of the hotel on the leased property with no City funding; prohibiting gambling
establishments on the leased property; and, commencing after the hotel begins operation,
providing for annual base rent to the City in the amount of the greater of the minimum fixed rent
or a percentage of the revenues of the hotel, among other rent payments.
On November 16, 2018, the City’s voters also approved a separate ballot measure
related to the uses to which minimum fixed rent payments to be received by the City pursuant to
the Hotel Ground Lease would be dedicated (the “Hotel Rent Dedication Ballot Question”).
The Hotel Rent Dedication Ballot Question required the City Commission to adopt an
ordinance dedicating the minimum fixed rent payments to be received by the City pursuant to
the Hotel Ground Lease to enhance funding (not replace or substitute existing City funding) for
stormwater projects, traffic reduction measures, and education with any amendment of such
ordinance subject to supermajority (5/7ths) approval by the City Commission.
ANALYSIS
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The developer and lessee under the Hotel Ground Lease, MB Mixed Use Investment,
LLC, has successfully reached financial close for the Grand Hyatt Miami Beach Convention
Center Hotel, officially taking possession of the site, representing a significant milestone toward
the delivery of this long-awaited transformative project.
The attached ordinance codifies the directive of the City’s voters pursuant to the Hotel
Rent Dedication Ballot Question.
FISCAL IMPACT STATEMENT
N/A
Does this Ordinance require a Business Impact Estimate? Yes
(FOR ORDINANCES ONLY)
If applicable, the Business Impact Estimate (BIE) was published on:
See BIE at: https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/
FINANCIAL INFORMATION
CONCLUSION
Applicable Area
Citywide
Is this a “Residents Right to Know” item,
pursuant to City Code Section 2-17?
Is this item related to a G.O. Bond
Project?
Yes No
Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481,
includes a principal engaged in lobbying? No
If so, specify the name of lobbyist(s) and principal(s):
Department
City Attorney
Sponsor(s)
Mayor Steven Meiner
Co-sponsor(s)
Commissioner David Suarez
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Condensed Title
1:55 p.m. 1st Rdg PH, Dedicate MBCC Hotel Rent Payments. (Meiner/Suarez) CA
Previous Action (For City Clerk Use Only)
Not reached on 4/23/2025 – R5 AD
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Docusign Envelope ID: 05F4109E-B2EB-48C4-9EC2-ABF842124B9F
Docusign Envelope ID: 05F4109E-B2EB-48C4-9EC2-ABF842124B9F
Docusign Envelope ID: 05F4109E-B2EB-48C4-9EC2-ABF842124B9F