C7U-Execute 1st Amendment To ATM Lease w- Suntrust Bank For 1700 Convention CentCOMMISSION ITEM SUMMARY
Condensed Title:
A Resolution authorizing the Mayor and City Clerk to execute the First Amendment to ATM Lease between the
City and SunTrust Bank, dated June 30, 2009, for the premises located at 1700 Convention Center Drive,
Miami Beach, Florida; said amendment approving Tenant's sole renewal option for a period of four (4) years
and three hundred sixty four (364) days, retroactively, commencing August 1,2014 and ending July 30,2019;
and further the relocation of the ATM to 1755 Meridian Avenue, First Floor, Miami Beach, Florida.
N/A
Supporting Data (Surveys, Environmental Scan, etc.):
N/A
ltem Summary/Recommendation :
On September 5,2007, the Mayor and City Commission passed Resolution 2007-26614, accepting the City
Manager's recommendation pertaining to the ranking of proposals pursuant to RFP 37-06107 for banking
services, and authorizing the administration to enter into negotiations with top-ranked proposer, SunTrust
Bank. The RFP required the winning bidder to install an ATM machine, in City Hall, at no charge to the City.
On May 13,2009, the Mayor and City Commission passed Resolution No.2009-27074, approving an ATM
Lease Agreement between the City and SunTrust Bank, for use of approximately sixteen (16) square feet of
City-owned property, located at 1700 Convention Center Drive (City Hall), Miami Beach, Florida for an initial
term of five years, with an additional renewal term of four (4) years and three hundred sixty four (364) days.
ln December 2012, the City and Tenant mutually agreed to relocate the ATM machine to 1755 Meridian
Avenue, First Floor, in order to better accommodate the needs of employees and residents at the Customer
Service Center. Said relocation shall be acknowledged as part of the renewal amendment.
The ATM Lease contains one (1) renewal option, for a period of four (4) years and three hundred sixty four
(364) days, retroactively commencing August 1, 2014 and ending July 30, 2019.
Since Tenant is required to provide the ATM machine at no cost to the City, and since the ATM machine is a
benefit to the employees and residents of the City, the Administration recommends the approval of the First
Amendment to ATM Lease between the Citv and SunTrust Bank.
Financial lnformation :
Max Sklar, ext. 6116
T:\AGENDA\2014\September\Suntrust ATM SUM (9-1 0-1 4).docx
AGENDA neu C7[/E MIAMIBEACH olrre ?-/0-u427
MIAMIBEACH
City of Miomi Beoch, 1700 Convention Center Drive. Miomi Beoch, Florido 33.139, www.miomibeochfl.gov
COMMISSION MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:A RESOLUTION OF THE MAYORIAND CIry COMMISSION OF THE
CITY OF MIAMI BEAGH, FLORIDA, APPROVING AND AUTHORIZING
THE MAYOR AND CITY CLERK TO EXECUTE THE FIRST
AMENDMENT TO ATM LEASE BETWEEN THE CITY AND SUNTRUST
BANK (TENANT), DATED JUNE 30, 2009, FOR THE PREMISES
LOCATED AT 17OO CONVENTION CENTER DRIVE, MIAMI BEACH,
FLORIDA (CITY HALL); SAID AMENDMENT ACKNOWLEDGING
TENANT'S EXERCISE OF ITS SOLE RENEWAL OPTION, FOR A
PERTOD OF FOUR (4) YEARS AND THREE HUNDRED SIXTY FOUR
(364) DAYS, RETROACT|VELY, COMMENCTNG AUGUST 1, 2014 AND
ENDING JULY 30, 2019; AND FURTHER RETROACTIVELY
APPROVING THE RELOCATION OF THE ATM MACHINE FROM GITY
HALL TO 1755 MERIDIAN AVENUE, FIRST FLOOR, MIAMI BEACH,
FLORIDA.
ADMINISTRATION RECOMM ENDATION
Adopt the Resolution.
BACKGROUND
On September 5, 2007, the Mayor and City Commission passed Resolution 2007-26614,
accepting the City Manager's recommendation pertaining to the ranking of proposals pursuant
to RFP 37-06107 for banking services, and authorizing the administration to enter into
negotiations with top-ranked proposer, SunTrust Bank. The RFP required the winning bidder to
install an ATM machine, in City Hall, at no charge to the City.
On May 13,2009, the Mayor and City Commission passed Resolution No.2009-27074,
approving an ATM Lease Agreement between the City and SunTrust Bank, for use of
approximately sixteen (16) square feet of City-owned property, located at 1700 Convention
Center Drive (a/k/a City Hall), Miami Beach, Florida for an initial term of five years, with an
additional renewal term of four (4) years and three hundred sixty four (364) days, at the City's
sole discretion.
ANALYSIS
ln Decembet 2012, the City and Tenant mutually agreed to relocate the ATM machine to 1755
Meridian Avenue, First Floor, in order to better accommodate the needs of employees and
residents at the Customer Service Center. Said relocation shall be acknowledged as part of the
First Amendment to ATM Lease, attached hereto and marked "Attachment 1".
Mayor Philip Levine and Members { the City Cofnmission
Jimmy Morales, City Manager
September 10,2014
428
Commission Memorandum
SunTrust ATM Amendment
September 10, 2014
Page 2 of 2
The ATM Lease contains one (1) renewal option, for a period of four (4) years and three
hundred sixty four (364) days, retroactively commencing August 1,2014 and ending July 30,
2019.
As provided by Tenant, below is the ATM machine transaction volume for the twelve (12)
months ending July 31 ,2014.
Month
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
Dec-13
Nov-13
Oct-13
Sep-1 3
Aug-13
Foreign
Transactions
28
42
29
20
40
36
33
39
40
50
41
35
SunTrust Total
Transactions Transactions
30
27
19
I
17
17
22
18
22
23
24
20
58
69
48
29
57
53
55
57
62
73
65
55
Average Transactions 36 21 Sl
As compared to a typical SunTrust ATM machine, the figures above represent a low volume of
transactions and Tenant claims to be losing money by providing this machine at no cost to the
City. However, pursuant to RFP 37-06107 for banking services, SunTrust Bank is required to
provide an ATM machine, in the City, at no charge to the City.
CONCLUSION AND RECOMMENDATION
Since Tenant is required to provide the ATM machine at no cost to the City, the Administration
recommends the approval of the First Amendment to ATM Lease, providing for the retroactive
approval of the Lease renewal and relocation of the ATM machine, in order to continue to
;JfiJj]
*', services at a more convenient rocation
T:\AGENDA\2014\SeptembeASuntrust ATM MEMO (9-1 0-14).docx
429
RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE THE FIRST AMENDMENT TO ATM LEASE
BETWEEN THE CIry AND SUNTRUST BANK (TENANT), DATED JUNE 30,
2009, FOR THE PREMISES LOCATED AT 17OO CONVENTION CENTER DRIVE,
MIAMI BEACH, FLORIDA (GITY HALL); SAID AMENDMENT ACKNOWLEDGING
TENANT'S EXERCISE OF ITS SOLE RENEWAL OPTION, FOR A PERIOD OF
FOUR (4) YEARS AND THREE HUNDRED StXTy FOUR (364) DAYS,
RETROACTIVELY, COMMENGING AUGUST 1, 2014 AND ENDING JULY 30,
2019; AND FURTHER RETROACTIVELY APPROVING THE RELOCATION OF
THE ATM MAGHINE FROM CITY HALL TO f755 MERIDIAN AVENUE, FIRST
FLOOR, MIAM! BEACH, FLORIDA.
WHEREAS, on September 5, 2007, the Mayor and City Commission passed Resolution 2007-
26614, accepting the City Manager's recommendation pertaining to the ranking of proposals
pursuant to RFP 37-06107 for banking services, and authorizing the administration to enter into
negotiations with top-ranked proposer SunTrust Bank, and
WHEREAS, the RFP required the winning bidder to install an ATM machine, in City Hall, at no
charge to the City, and
WHEREAS, on May 13, 2009, the Mayor and City Commission passed Resolution No. 2009-
27074, approving an ATM Lease Agreement (Lease) between the City and SunTrust Bank, for use
of approximately sixteen (16) square feet of City-owned property, located at 1700 Convention
Center Drive, Miami Beach, Florida for an initial term of five years, with an additional renewal term
of four years and three hundred sixty four (364) days; and
WHEREAS, Tenant has provided the City with the requisite notice of its intention to exercise its
sole renewal option, pursuant to Section 3(b) of the Lease, for the renewal term commencing
August 1, 2014 and ending July 30, 2019, and
WHEREAS, in December 2012, the City and Tenant mutually agreed to relocate the ATM
machine to 1755 Meridian Avenue, First Floor, in order to better accommodate the needs of
employees and residents at the Customer Service Center; and
WHEREAS, the Administration is recommending that the Mayor and City Clerk execute the
First Amendment to ATM Lease, providing for the retroactive approval of the Lease renewal and
relocation of the ATM machine, in order to contlnue to provide the public with ATM services at a
more convenient location.
lr NTENTTONALLY LEFT BLANKI
430
NOW, THEREFORE, BE !T DULY RESOLVED THAT THE MAYOR AND CITY
COMMISSION OF THE C!ry OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission
hereby authorize the Mayor and City Clerk to execute the First Amendment to ATM Lease between
the City and SunTrust Bank (Tenant), dated June 30, 2009, for the premises located at '1700
Convention Center Drive, Miami Beach, Florida (City Hall), as attached hereto and incorporated
herein as "Attachment 1"; said amendment acknowledging Tenant's exercise of its sole renewal
option, for a period of four (4) years and three hundred sixty four (364) days, retroactively,
commencing August 1, 2014 and ending July 30, 2019; and further retroactively approving the
relocation of the ATM machine from City Hall to 1755 Meridian Avenue, First Floor, Miami Beach,
Florida.
PASSED and ADOPTED this day of 2014.
ATTEST:
Rafael Granado, Clry CLERK
T:\AGENDA\2014\September\Suntrust ATM RESO (9-1 0-1 4).docx
Philip Levine, MAYOR
,6F[rgHRSgIg,
FqR EXECUTTON
I ) -,1-
-
Dote
431
Attachment 1
FIRST AMEIYDMENT TO ATM LEASE
THIS FIRST AMENDMENT TO ATM LEASE (this'Amcndmcntu), dated effective
as of the day of huly,20t4 ("Effective Date") betwecn CITY OF MIAMI BEACE, a
Florida nr,--i"ipa
-*rporutior, ('Landlord"), and SUNTRUST BAM( a Georgia banking
corporation ("Tenant"), recites and provides:
BE9IIAIE:
A. By ATM Lease dated as of June 3,2OOg (the *Lease"), Iandlord lege{ to Tenant
and Tenant leascd from Landlord those certain premises containing approximately.sixteen (16)
rqro" f*t of space f6re 'itttites") in the building known as Miami Beach City Hall and
located at 1700
-Couvention
Center Drive, Miami Beach, F.lorida 33139 (the "Building'), uPon
the terms and conditions set forth therein.
B. On or about February 213,2012, the ATM was rclocatcd from the Premises to a
different buitding.
C. The current term of the I*ase is sctreduled to expire on July 31, 2014.
D. Landlord and Tenant now desire to amend the Lcase to reflect the new location of
the ATM and to extend the term of the Lease, all as morc particularly described below'
AMEITIDMENT:
FOR and in consideration of the mutual covenants and agreements contained herein and
other good and valuable consideration, the rcocipt and sulEciency of which are hereby
actnowteOgea, Iandlord and Tenant hercby agrce as follows:
l. Definitions: Recitals. Unlcss specifically defined berein, all eapitalizcd tenns
uscd in this Amendment shall havc the meanings set f;rttt in the Lease' The recitals lo this
Amendment are hercby incorporated into and made a part of this Amendment'
Z. Ameudmcnts to kase. Iandlord and Tenant hereby emend thc Lease as follows
effective as of ttre gtrective Date, unless othenviseprovided hercin:
a. Relocation of Premises: Section l(a) of the Lease shall be amended o
provide that the premiscs *dcr ttle Lease
-have
been reiocated to that certain space, having
ipproximatety sixteenii6, tquutt feetgf qpTe, where the ATM is currently situated on the first
iirt) n*r, in tt e to"ution moi" partirutarly shown on Exhibit A attached hereto and incorporated
432
herein by r-eference (the "Relocation Space") of that certain building located at 1755 Meridian
Avenue. Miami Beach, Florida 3313i C'Relocated Building") for the installation, operation,
maintenance, replacement and removal of one (l) automated teller machine, or any other similar
machine or terminal (*ATM"). The parties hereto acknowledge and agree that Tenant has
previously surrenderedpo..o.ion of thi original Premises to Landlord in the condition required
Ly the Lease and Tenant shall have no further right, title or interest in or to the original Premiscs.
All relbr-ences to the Premises in the Lease and this Amendment shall be deemed to be references
to the Relocation Space; and all references to the Building in the Lease and this Arnendment
shall be deemed to be retbrences to the Retocated Building. Landlord hereby approves Tenant's
current improvements to the Relocation Space.
b. Tenant hereby exercises its option under Section l(f) of thc Lease to
extend the term of the Lease for the Renewal Tenn which shall commence on August 1,2014
and expire on July 30, 2019 on the same terms and provisions as set lbrlh in the lease. Landlord
hcrcbyacknowtedges and accepts Tenant's exercise of its option to extend the lerm of the Leasc
for the Renewal Term.
c. Exhibit A attached to the original Lease is hereby deletcd in its entirety
and replaced with Exhibit A attached to this Amendment.
d. f'enant's Address: Effective as of the date of full execution of this
Amendment, Section l(h) of th" L"us. is hereby amended and rcstated in its antirety to read as
follows:
'.Tenant's adcrress: sunTrust Bank
200 Souttr Orange Avenue
Mail Code: 2032; SOAB-3
Orlando, Florida 32801
Attn: CorPorate Real Estate
Phone: (407)237-5208
Fax: (407) 237-1718
3. Ratification. Except as expressly amended hereby, the Lease is hereby ratified
and confirmcd and remains in full force and effect. In the event of any inconsistency between the
temrs of rhe Lease and this Arnendment. the terms of this Amendment shall in all cases govern'
4. Brokerase Comnrission. Each party repr€sents and warrants that it has nol
engaged the services "f .r' d""lt *ith any brokcr, salesperson or oiher entity who may claim a
.o**ittiun or othet' paynent in conjunction with this Amendment' Each parfy aglees to
indemnify, defend and [old the othci harmless from and against all loss, claims, costs and
expenses-(including attomeys' fees) caused by a breach of the foregoing rcpresentation'
5. Authorization. Each party represents and warrants to the other that lhis
Amendment has been duly authorized, eiecutid and delivered by all necessary action on its
behalf, constitutes the vatid and binding agreement of such party and is enforceable in
accordance with its tentls. Landlord represents and warants to Tenant that (i) there are no
433
rnortgages or cfeeds of trust encumbedng the Premises which requirc the beneficiary of such
*ort!"!. or deed of nust to consent to this funendment, and (ii) Landlord is the sole owner of
tte sln:pte title to the Premiscs and the landlord under the [rase and there is no other person or
entity who has an ownership interest in the Premises or the lrase or whose consent is required to
this Amendment.
6. Successors and Assisns. This Amendmenl shall inure to the benefit of, and be
binding rpon, thi parties hereto and their respective heirs, personal representatives, successors
and assigns.
j. Entire Agreement. This Amendment, together with the Lease, constitutes the
entire agreern*t Urnu6 tt. parties hercto with respect to the subject matter hereof and
supersedles all prior discussions, rmderstandings, agreements and negotiations between the parties
hereto. This Amendment and the Lease nriy be modified onty by a written instrument duly
executed by the parties hereto.
8. Governine law. This Amendment shall be construed and enforced in accotdance
with the tu*, nf th".i*it.ti* in which the Premises arc located, without regard to principles of
conflicts of laws.
g. Countenrarts. This Amendrnent may be executcd in two or mole coulrteryarls'
each of which shall Ue deemect an original and which together shall constitute one and the sarne
instrumeil.
10. Except as amencled herein, all other terms and conditions of the Lease shall
remain unchanged and in full force and effect'
ISTGNATIIRES ON FOLLOWING PAGEI
434
IN WITNESS WHEREOF, Landlord and Tenant have executed or caused this
Amendment to be executed on their behalf by their duly authorized representatives as of the date
set forth above.
1VITNESSES:
CITY CLERK:
By:
111,,,'-Eafad E. Granado
WITITTE.SSES:
**"y
By, frr4//4/
Thomas
First Vice
APPROVED AS TO
FORM & LANGUAGE
-1
(rr--( fVt-o,
Name: C**-o/ \/d,iAz-
aitc.. / ; S
Nane: //r/s* #frat*kz
LAITTDLORD:
CITY OF MIAndI BEACII, a
Florida municipal corPoration
Philip Levine
Name:
Title:
Date:
Mayor
TENANT:
SUNTRUST BANK a Georgia banking
FLo f 7{5 Tirsl Ameodmeot to ATM Lc'as(5).du
435
Replacernent Exhibit A
(the "Premises")
436