336-2000 RDA
,
,
RESOLUTION NO. 336-2000
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF mE
MIAMI BEACH REDEVELOPMENT AGENCY ADOPTING mE
OPERATING BUDGET FOR FISCAL YEAR 199912000, AS
SUBMITTED BY QUIK PARK OF FLORIDA, INC., FOR THE
OPERATION OF THE PARKING COMPONENT OF THE ANCHOR
SHOPS AND PARKING AT SOUTH BEACH, IN ACCORDANCE
WITH THE TERMS AND CONDmONS OF THE GARAGE
FACILITY MANAGEMENT AGREEMENT, DATED JULY 15, 1998,
BETWEEN THE REDEVELOPMENT AGENCY AND QUIK PARK
OF FLORIDA, INC.
WHEREAS, pursuant to the tenns of the Garage Facility Management Agreement between
the Redevelopment Agency (RDA) and Quik Park of Florida, Inc, (Quik Park), Quik Park must
submit, for approval by the RDA, a proposed annual budget for the operation of the Anchor Shops
Garage; and
WHEREAS, since the Management Agreement does not specify whether the budget needs
to coincide with the City/RDA's fiscal year, Quik Park did not submit its budget at the time the
City/RDA's budget was submitted for approval in September, 1999; and
WHEREAS, Quik Park has been asked to prepare a budget for the operation of the Anchor
Shops Garage, which coincides with the City's fiscal year,
NOW, THEREFORE BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF TIlE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman
and Members of the RDA adopt the operating budget for Fiscal yearI999/2000, as submitted by
Quik Park of Florida, Inc., for the operation of the parking component of the Anchor Shops and
Parking at South Beach, in accordance with the terms and conditions of the Garage Facility
Management Agreement, dated July 15, 1998, between the Redevelopment Agency And Quik Park
of Florida, Inc.
PASSED AND ADOPTED this 12th day of January, 2000,
1f/I1
CHAIRMAN
~EST:
lJ\UvY ~rvv(~1A
SECRETARY. .
LAUCMC/kob _
T;\AOENDA\1OOO\JANll00\RDA\QUIKPAIUlRES
APPROVED AS TO
FORM & lANGUAGE
& FOR EXECUTION
4!J. ~!b-. 1./' I J)jlj
.....10 menlAgency ~
Generul Counsel
Miami Beach
Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Telephone: (305) 673-7193
Fax: (305) 673-7772
REDEVELOPMENT AGENCY MEMORANDUM NO. 00- 2...
January 12,2000
FROM:
Chairman and Members ofthe
Miami Beach Redevelopment Agency
Lawrence A. Levy ~
Executive Director
TO:
SUBJECT:
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI
BEACH REDEVELOPMENT AGENCY ADOPTING THE OPERATING
BUDGET FOR FISCAL YEAR 1999/2000, AS SUBMITTED BY QUIK PARK
OF FLORIDA, INC., FOR THE OPERATION OF THE PARKING
COMPONENT OF THE ANCHOR SHOPS AND PARKING AT SOUTH
BEACH, IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF
THE GARAGE FACILITY MANAGEMENT AGREEMENT DATED JULY
15,1998, BETWEEN THE AGENCY AND QUIK PARK OF FLORIDA, INC.
THE OPERATION OF THE ANCHOR GARAGE
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
ANALYSIS
Pursuant to the terms of the Garage Facility Management Agreement between the Redevelopment
Agency (RDA) and Quik Park of Florida, mc" Quik Park must submit for approval by the RDA,
a proposed annual budget for the operation of the Anchor Garage. Since the Agreement does not
specify whether the budget needs to coincide with the City/RDA's fiscal year, Quik Park did not
submit its budget at the time the CitylRDA's budget was submitted for approval in September, 1999.
Quik Park has since been asked to prepare a budget for the operation of the Anchor Garage which
coincides with the City's fiscal year. As such, the attached budget for Fiscal Year 99/00 is being
submitted for approval.
S()Uft1 V()I~
Vedevel()pment ()Istrtct
Agenda Item '3.1t
Date \ - \'2..-00
t
Quik Park is extremely conservative with its revenue projections for FY 99/00, which to a certain
extent, are based upon actual numbers for the first eleven months of operation in the garage and an
annualized figure for the month of December, 1999, Revenue is projected to decline by
approximately 5 percent due to the fact that Loews is expected to continue using its on-site parking
spaces prior to using its allocated spaces in the garage. Transient revenue is forecasted to remain
relatively constant, while revenue derived from monthly accounts is expected to increase by
approximately 37 percent. The significant projected increase in monthly account revenue is being
attributed to the addition of 50 monthly parkers from Sony, Inc. Operating expenses are projected
to increase by approximately 17 percent, primarily due to an increase in certain pass-through
expenses, including but not limited to maintenance contracts for equipment no longer under
warranty and/or previously maintained by the General Contractor. An itemized explanation of
expenses is included with the attached budget.
The budget also reflects input by the City's Parking Department, which at the request of the
Redevelopment Agency, will also monitor the Anchor Garage on a weekly basis to ensure that the
facility is being maintained and cleaned to acceptable operating standards and adequately staffed
at all times.
The Redevelopment Agency recommends approval of Quik Park's budget for FY 99/00.
LAL\~~
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