File Number: 112174
|Printable PDF Format Clerk's Official Copy|
|File Number: 112174||File Type: Resolution||Status: Adopted|
|Version: 0||Reference: R-1044-11||Control: Board of County Commissioners|
|Requester: Internal Services||Cost:||Final Action: 12/6/2011|
|Sunset Provision: No||Effective Date:||Expiration Date:|
|Registered Lobbyist:||None Listed|
|Acting Body||Date||Agenda Item||Action||Sent To||Due Date||Returned||Pass/Fail|
|Board of County Commissioners||12/6/2011||8F3||Adopted||P|
|Internal Mgmt. & Fiscal Responsibility Committee||11/8/2011||3B||Forwarded to BCC with a favorable recommendation||P|
|County Attorney||10/27/2011||Assigned||Monica Rizo||11/1/2011|
|County Mayor||10/19/2011||Assigned||County Attorney||12/6/2011|
|REPORT:||IS--Pending Commt Assgn--CAO: Monica Rizo|
|County Mayor||10/19/2011||Assigned||Ed Marquez|
RESOLUTION AUTHORIZING EXECUTION OF A LEASE AGREEMENT AT 900 N.E. 125 STREET, SUITES 200 & 207, MIAMI, WITH N.M. AUCTION GENERAL PARTNERSHIP, FOR PREMISES TO BE UTILIZED BY THE COMMISSIONER OF DISTRICT 2 AS A DISTRICT OFFICE, WITH A TOTAL FISCAL IMPACT TO MIAMI-DADE COUNTY NOT TO EXCEED $119,264.73 FOR THE FIVE-YEAR TERM OF THE LEASE; AND AUTHORIZING THE MAYOR OR THE MAYOR’S DESIGNEE TO EXERCISE ANY AND ALL OTHER RIGHTS CONFERRED THEREIN
WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying memorandum, a copy of which is incorporated herein by reference,
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board hereby approves the Lease Agreement between Miami-Dade County and N.M. Auction General Partnership, for premises to be utilized as a district office by the commissioner of District 2, with a total fiscal impact to Miami-Dade County not exceed $119,264.73 for the five-year term of the Lease, in substantially the form attached hereto and made a part hereof, authorizes the County Mayor or the County Mayor’s designee to execute same for and on behalf of Miami-Dade County; and authorizes the County Mayor or the County Mayor’s designee to exercise any and all other rights conferred therein.
To: Honorable Joe A. Martinez, Chairman
and Members, Board of County Commissioners
From: Carlos A. Gimenez
Subject:Lease Agreement with N. M. Auction General Partnership for Property Located at 900 N.E. 125 Street, Suites 200 & 207, Miami, for Commissioner Jean Monestime District 2 Office Folio # 0622300410010
It is recommended that the Board of County Commissioners (Board) approve the attached resolution authorizing execution of a Lease Agreement for premises located at 900 N.E. 125 Street, Suites 200 and 207, Miami, FL with N.M. Auction General Partnership, for Commissioner Jean Monestime’s district office. The attached Lease Agreement has been prepared by the Internal Services Department at the request of Commissioner Jean Monestime.
PROPERTY: 900 N.E. 125 Street, Suites 200 and 207, Miami, FL
COMMISSION DISTRICT: 2
OWNERS: Alan Waserstein - President of Cabrita 125 Street, Inc.,
General Partners - 50%
Elite Auction, Inc. - 25%
Prestige Auction, Inc. - 25%
OWNERS’ TRACK RECORD: The County has no record of negative performance issues with N.M. Auction General Partnership.
USE: 1,485 rentable square feet of air-conditioned office space together with off-street parking.
JUSTIFICATION: Commissioner Jean Monestime has a need to continue to lease this centrally located facility as a District 2 office.
LEASE TERM: Five years.
EFFECTIVE DATES: The Lease Agreement commences upon passage of this resolution by the Board and terminates five years thereafter.
RENTAL RATE: The annual base rent for the first year of the initial lease term is $21,600.00, which is equal to $14.54 per square foot on an annual basis. The annual base rent for the second through the fifth year of the initial lease term shall be subject to annual Consumer Price Index increases, not to exceed three percent annually.
FISCAL IMPACT: The total fiscal impact for the first lease year is estimated to be $22,464.00, which is calculated below, and has been budgeted in the County Commission’s operating budget. Funding Source: General Fund, Index Code: CCTLT010295, Sub-object Code: 25511.
First lease year of the initial term:
Annual Base Rent: Total Dollars PSF
Annual Base Rent $21,600.00 $14.54
Lease Management Fee (4%) 854.00
Total Cost to County,
First Year: $22,464.00
The total fiscal impact for the entire five-year term of the lease is $119,264.73.
LEASE CONDITIONS: This is a Full Service Lease where the Landlord is responsible for the cost of electricity, janitorial and custodial services, water and waste disposal services, maintenance of the structure of the building, electrical and plumbing lines, air-conditioning equipment, roof and roof leaks and all common areas.
The Landlord is responsible for the improvements as detailed in Article XVIII, “Improvements of the Demised Premises” to be performed at Landlord’s expense.
CANCELLATION PROVISION: The County may cancel this Lease Agreement, or any portion thereof, at any time and for any reason by giving Landlord at least sixty 60 days’ prior written notice.
CURRENT LEASE: The current Lease Agreement for 1,360 square feet was approved by the Board on April 19, 2005 by Resolution R-454-05. The Lease Agreement is for a two-year term with one additional four-year renewal option period, which expired on April 30, 2011. However, the current lease contains a holdover
provision which allows the Tenant to remain in the space on a month to month basis, under the same terms and conditions as the existing lease. The current annual rent is $20,400.00, which is equal to $15.00 per square foot. The new rate under the Lease Agreement that is before the Board for approval is set at $14.54 per square foot in the first year.
EVALUATED: 1175 N.E. 125 Street – $16.00 per square foot – Full Service
822 N.E. 125 Street - $14.00 per square foot – Net of janitorial services – (no space currently available).
915 N.E. 125 Street - $15.00 per square foot – Full Service
plus build-out costs.
MONITOR: Linda Weber, Real Estate Officer
DELEGATED AUTHORITY: Authorizes the Mayor or the Mayor’s designee to execute the attached lease agreement and exercise the cancellation provision.
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