493-2004 RDA Reso
RESOLUTION NO. 493-2004
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE
MIAMI BEACH REDEVELOPMENT AGENCY APPROPRIATING
AND AUTHORIZING REIMBURSEMENT TO THE COURTS IN
THE AMOUNT OF $458,627 IN AVAILABLE SOUTH POINTE
REDEVELOPMENT TRUST FUNDS TO REIMBURSE THE
COURTS AT SOUTH BEACH, LTD., FOR STREET
IMPROVEMENTS TO FIRST STREET BETWEEN JEFFERSON
AND WASHINGTON AVENUES AND TO MERIDIAN AVENUE
BETWEEN FIRST AND SECOND STREETS, PURSUANT TO
THE FOURTH EXTENSION AND CLARIFICATION
AGREEMENT, DATED JULY 26,2000, BETWEEN THE MIAMI
BEACH REDEVELOPMENT AGENCY, THE CITY OF MIAMI
BEACH AND THE COURTS AT SOUTH BEACH LIMITED, A
FLORIDA LIMITED PARTNERSHIP F/KlA COBB PARTNERS
SOUTH BEACH LIMITED.
WHEREAS, pursuant to the Fourth Extension and Clarification Agreement dated July 26,
2000 (the "Contract"), between the City of Miami Beach (the "City"), the Miami Beach
Redevelopment Agency (the "RDA"), and the Courts at South Beach Limited, a Florida limited
partnership f/k/a Cobb Partners South Beach, Ltd. (the "Developer"), (collectively referred to as
the "Parties"), the RDA was obligated to construct certain streetscape improvements (the
"Improvements") in the general area of the Courts Project, as well as in close proximity of the
Project; and,
WHEREAS, the Parties agreed and acknowledged that the Developer had constructed a
portion of these Improvements, and that the RDA was obligated to reimburse the cost thereof,
not to exceed $750,000; and
WHEREAS, the Parties further agreed that the Developer has already paid $291,373 for
the Improvements between Alton Road and Jefferson Avenue that has been applied as a credit
against the purchase of Parcelll/Block 53; and
WHEREAS, the limit of the Developer's remaining obligation to design and construct the
remaining Improvements, and the sum that is currently due and owing to the Developer by the
RDA, is $458,627; and.
WHEREAS, pursuant to the Contract, upon submission of an invoice for payment of the
Improvements, the RDA shall review the Improvements, and within thirty (30) days of the
submission of the invoice, either issue payment for the invoice, or provide the reason why
payment should not be paid; and
WHEREAS, on October 28,2004, the City conducted an inspection of the improvements
to First Street between Washington and Jefferson Avenues, and Meridian Avenue between First
and Second Streets; and
WHEREAS, with the exception of certain minor landscaping, irrigation and mechanical
issues, the Improvements have been substantially completed; and
WHEREAS, a punch-list of outstanding items by Public Works, Planning, Park and
Recreation Departments was issued to the Developer on October 29, 2004; and
WHEREAS, as of the week of November 1, 2004, the City was waiting for completion of
the remaining punch-list items by the Developer before conducting a final walk-through inspection
of the Improvements; and
WHEREAS, the Administration recommends proceeding with the appropriation of
$458,627 from available South Pointe Redevelopment Trust Funds, to reimburse the Developer
upon completion of the Improvements and acceptance of the Improvements by the City.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS
OF THE MIAMI BEACH REDEVELOPMENT AGENCY, FLORIDA, that the Chairman and
Members of the Miami Beach Redevelopment Agency hereby appropriate $458,627 in available
South Pointe Redevelopment Trust Funds to reimburse the Courts at South Beach, Ltd., for
Street Improvements to First Street, between Jefferson and Washington Avenues, and to
Meridian Avenue between First and Second Streets, pursuant to the Fourth Extension and
Clarification Agreement, dated July 26,2000, between the Miami Beach Redevelopment Agency,
the City of Miami Beach and the Courts at South Beach, Limited, a Florida Limited Partnership
flk/a Cobb Partners South Beach, Limited.
PASSED AND ADOPTED this 10th day of No~
CHAIRMAN
ATTEST:
Lak\ d' fOvLt&--
SECRETARY
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t\Agenda\2004\Nov10\Courts_Reso.doc
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
1lA4 I Mfl.. () ~h.~ po, 3"'Ot/
.,~ Date
General Coun~
COURTS/COSMOPOLITAN PROJECT
STREETSCAPE IMPROVEMENTS
1 ST Street looking east from Alton Rd
1ST Street looking east from Meridian Ave
Courts/Cosmopolitan Streetscape Improvements
Page 2
1 ST Street looking west from Washington Ave
Meridian Ave looking north from 1 sl Street
CITY OF MIAMI BEACH
MIAMI BEACH REDEVELOPMENT AGENCY ITEM SUMMARY
~
Condensed Title:
A Resolution appropriating $458,627 in available South Pointe Redevelopment Trust Funds and authorizing
reimbursement to the Courts of South Beach, Ltd., for street improvements to First Street between
Jefferson and Washington Avenues and to Meridian Avenue between First and Second Streets, pursuant
to the Fourth Extension and Clarification Agreement dated July 26, 2000 (the "Contract"), between the
City, the RDA, and the Courts at South Beach Limited, a Florida limited partnership flk/a Cobb Partners
South Beach, Ltd. (the "Develooer").
Issue:
Shall the RDA appropriate the funds and reimburse the Courts of South Beach, Ltd., for street
improvements to First Street between Jefferson and Washington Avenues and to Meridian Avenue
between First and Second Streets, pursuant to the Fourth Extension and Clarification Agreement dated
Julv 26, 2000 (the "Contract")?
Item Summary/Recommendation:
Pursuant to the Fourth Extension and Clarification Agreement dated July 26, 2000 (the "Contract"),
between the City, the RDA, and the Courts at South Beach Limited, a Florida limited partnership f/k/a Cobb
Partners South Beach, Ltd. (the "Developer"), collectively referred to as the "Parties", the RDA was
obligated to construct certain streetscape improvements in the general area of the Project, as well as in
close proximity of the Project. Subsequently, the Parties agreed and acknowledged that the Developer had
constructed a portion of the streetscape improvements and that the RDA was obligated to reimburse the
cost thereof, not to exceed $750,000. The Parties further agreed that the Developer has already paid
$291,373 for the streetscape improvements between Alton Road and Jefferson Avenue that has been
applied as a credit against the purchase of Parcel II/Block 53. Therefore the limit of the Developer's
remaining obligation to design and construct the remaining streetscape improvements and the sum that is
currently due and owing to the Developer by the RDA is $458,627. Pursuant to the Contract, upon
submission of an invoice for payment of the streetscape improvements, the RDA shall review the
improvements and within thirty (30) days of the submission of the invoice, either issue payment for the
invoice, or provide the reason why payment should not be paid. As of the date this memorandum was
prepared, the City was waiting for completion of the remaining punch-list items before conducting a final
walk-through inspection of the improvements. As such the Administration recommends proceeding with the
appropriation of $458,627 from available South Pointe Redevelopment Trust Funds, and authorizing
reimbursement to the Developer upon completion of the street improvements and final acceptance of the
imorovements bv the Citv.
Advisory Board Recommendation:
I
Financial Information:
Source of ,. Account APproved
Funds: 1 $458,627
S. Pointe ...~...
TIF 3
....4
Finance Dept. .rQtali
Ci Clerk's Office Le islative Trackin
Christina M. Cuervo/Kent O. Bonde
Assistant City Manager
City Manager
c
AGENDA ITEM
DATE
3E
11-IO-oC{
T:\AGENDA\2004\Nov1004\RDA\Courts.sum.doc
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
www.ci.miamibeachfl.gov
To:
From:
Subject:
MIAMI BEACH REDEVELOPMENT AGENCY MEMORANDUM
Chairman and Members of the Board of the Date: November 10, 2004
Miami Beach Redevelopment Agency
Jorge M. Gonzalez tA~
Executive Director (/V- 0
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY APPROPRIATING AND
AUTHORIZING REIMBURSEMENT TO THE COURTS IN THE AMOUNT
OF $458,627 IN AVAILABLE SOUTH POINTE REDEVELOPMENT TRUST
FUNDS TO REIMBURSE THE COURTS AT SOUTH BEACH, LTD., FOR
STREET IMPROVEMENTS TO FIRST STREET BETWEEN JEFFERSON
AND WASHINGTON AVENUES AND TO MERIDIAN AVENUE BETWEEN
FIRST AND SECOND STREETS, PURSUANT TO THE FOURTH
EXTENSION AND CLARIFICATION AGREEMENT, DATED JULY 26,
2000, BETWEEN THE MIAMI BEACH REDEVELOPMENT AGENCY, THE
CITY OF MIAMI BEACH AND THE COURTS AT SOUTH BEACH LIMITED,
A FLORIDA LIMITED PARTNERSHIP F/KlA COBB PARTNERS SOUTH
BEACH LIMITED.
RECOMMENDATION:
Adopt the Resolution.
ANALYSIS:
Pursuant to the Fourth Extension and Clarification Agreement dated July 26, 2000 (the
"Contract"), between the City, the RDA, and the Courts at South Beach Limited, a Florida
limited partnership f/k/a Cobb Partners South Beach, Ltd. (the "Developer"), collectively
referred to as the "Parties", the RDA was obligated to construct certain streetscape
improvements in the general area of the Project, as well as in close proximity of the
Project. Subsequently, as reflected in the amended contract, the Developer agreed to
design and construct a certain portion of these improvements that were estimated by the
Parties to cost $750,000. The Parties agreed and acknowledged that the Developer had
constructed a portion of the streetscape improvements and that the RDA was obligated to
reimburse the cost thereof, not to exceed $750,000. The Parties further agreed that the
Developer has already paid $291,373 for the streetscape improvements between Alton
Road and Jefferson Avenue that has been applied as a credit against the purchase of
Parcel II/Block 53. Therefore the limit of the Developer's remaining obligation to design and
construct the remaining streetscape improvements and the sum that is currently due and
owing to the Developer by the RDA is $458,627.
On Thursday, October 28, the City conducted an inspection of the improvements to First
Street between Washington and Jefferson Avenues and Meridian Avenue between First
November 10, 2004
Redevelopment Agency Memorandum
The Courts Project - Streetscape Improvements
Page 2 of 2
and Second Streets. With the exception of certain minor landscaping, irrigation and
mechanical issues, the street improvements have been substantially completed. A punch-
list of outstanding items by department was issued to the Developer on Friday, October 29,
and was expected to be addressed by the end of the following week.
Pursuant to the Contract, upon submission of an invoice for payment of the streetscape
improvements, the RDA shall review the improvements and within thirty (30) days of the
submission of the invoice, either issue payment for the invoice, or provide the reason why
payment should not be paid. As of the date this memorandum was prepared, the City was
waiting for completion of the remaining punch-list items before conducting a final walk-
through inspection of the improvements. As such the Administration recommends
proceeding with the appropriation of $458,627 from available South Pointe Redevelopment
Trust Funds, to reimburse the Developer upon completion of the street improvements and
final acceptance of the improvements by the City.
JMG/C~/I~/rar
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