Miami-Dade Legislative Item
File Number: 130686
Printable PDF Format Download Adobe Reader  

File Number: 130686 File Type: Resolution Status: Amended
Version: 0 Reference: Control: Board of County Commissioners
File Name: STADIUM MODIFICATION AGREEMENT Introduced: 4/9/2013
Requester: NONE Cost: Final Action:
Agenda Date: Agenda Item Number:
Notes: SEE 130701 FOR FINAL VERISON AS ADOPTED. SPECIAL ITEM NO. 2 Title: RESOLUTION APPROVING MODERNIZATION AGREEMENT FOR RENOVATION OF SUN LIFE STADIUM, PERSONAL GUARANTY FOR CERTAIN PAYMENT OBLIGATIONS, AND NON-RELOCATION AGREEMENT REGARDING DOLPHINS FRANCHISE; DELEGATING TO COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE AUTHORITY TO PERFORM CERTAIN ACTS AND EXERCISE CERTAIN CANCELLATION AND TERMINATION PROVISIONS, SUBJECT TO THE PARAMETERS SET FORTH IN THIS RESOLUTION AND STADIUM AGREEMENTS; DELEGATING TO COUNTY MAYOR OR MAYOR’S DESIGNEE AUTHORITY TO DETERMINE THE VALUE OF ALTERNATIVE FORM OF SECURITY IN LIEU OF PAYMENT AND PERFORMANCE BOND TO BE PROVIDED TO THE COUNTY BY STADIUM LLC SUBJECT TO CERTAIN PARAMETERS SET FORTH IN THIS RESOLUTION; AND AUTHORIZING COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE ALL SUCH AGREEMENTS UPON FULFILLMENT OF CERTAIN CONDITIONS
Indexes: SUN LIFE STADIUM
Sponsors: Barbara J. Jordan, Prime Sponsor
  Bruno A. Barreiro, Co-Sponsor
  Jose "Pepe" Diaz, Co-Sponsor
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 4/10/2013 Special Item No. 2 Amended
REPORT: (See Special Item No. 2 Amended, Legislative File No. 130701 for the amended version.)

County Attorney 4/9/2013 Referred

County Attorney 4/9/2013 Assigned Oren Rosenthal

Legislative Text


TITLE
RESOLUTION APPROVING MODERNIZATION AGREEMENT FOR RENOVATION OF SUN LIFE STADIUM, PERSONAL GUARANTY FOR CERTAIN PAYMENT OBLIGATIONS, AND NON-RELOCATION AGREEMENT REGARDING DOLPHINS FRANCHISE; DELEGATING TO COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE AUTHORITY TO PERFORM CERTAIN ACTS AND EXERCISE CERTAIN CANCELLATION AND TERMINATION PROVISIONS, SUBJECT TO THE PARAMETERS SET FORTH IN THIS RESOLUTION AND STADIUM AGREEMENTS; DELEGATING TO COUNTY MAYOR OR MAYOR’S DESIGNEE AUTHORITY TO DETERMINE THE VALUE OF ALTERNATIVE FORM OF SECURITY IN LIEU OF PAYMENT AND PERFORMANCE BOND TO BE PROVIDED TO THE COUNTY BY STADIUM LLC SUBJECT TO CERTAIN PARAMETERS SET FORTH IN THIS RESOLUTION; AND AUTHORIZING COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE ALL SUCH AGREEMENTS UPON FULFILLMENT OF CERTAIN CONDITIONS

BODY
WHEREAS, the following Stadium Agreements are being presented to this Board for approval: the Modernization Agreement by and among the County, South Florida Stadium, LLC, a Florida limited liability company (the “Stadium LLC”), and Stephen M. Ross, solely with respect to certain obligations as set forth in the Modernization Agreement; the Guaranty from Stephen M. Ross, as the current owner of a controlling interest in Stadium LLC and Miami Dolphins, Ltd ("MDL"), the entity that owns and operates the Miami Dolphins' franchise; and the Non-Relocation Agreement by and among the County and MDL (hereafter collectively referred to as the “Stadium Agreements”), each in substantially the form attached to this resolution and incorporated herein by this reference, for the renovation of Sun Life Stadium (the "Stadium"); and
WHEREAS, the County views any public monies contributed to the Modernization Project to be a grant for economic development and incentive which the County believes will result in a demonstrable economic return to the public; and
WHEREAS, this Board finds that County's economic development grant to Stadium LLC for the renovation of the Stadium is in the best interests of the County and will serve a paramount public purpose,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. The foregoing recitals are incorporated in this resolution and are approved.
Section 2. This Board hereby approves the terms of the Stadium Agreements.
Section 3. The County Mayor or the County Mayor’s designee shall have the authority to execute such other documents and to take such action as may be necessary to execute and give effect to the intent of this resolution and to exercise such delegated authority as is specifically identified in the Stadium Agreements. In addition, and notwithstanding any of the foregoing, the County Mayor or the County Mayor’s designee shall be required to seek Board approval for any approvals, consents, actions, events or undertakings that would violate, alter, or ignore the substantive provisions of the Stadium Agreements, or that would create a financial obligation, cost or expense to the County that is greater than the delegated procurement authority of the County Mayor, as set forth in the County Charter, County Code, and any administrative or implementing orders.
Section 4. The County Mayor or the Mayor’s designee is hereby delegated the authority to determine the value and sufficiency of the alternative form of security in lieu of a payment and performance bond for the Modernization Project, provided that, in determining the sufficiency and value of the alternative security the Mayor or the Mayor’s designee will consider the nature, history and financial capabilities of Stadium LLC, the contractual obligations secured by the alternative security, and the contractual safeguards in place to protect payments to persons performing the work and require that, prior to commencement of the work or purchase of supplies, any and all contractors hired by Stadium LLC to perform work for the Modernization Project has executed, delivered, and recorded in the public records a statutory payment and performance bond in the full amount of the contract naming the County as an obligee, all as required by Section 255.05, Florida Statutes.
Section 5. This Resolution shall become effective upon the occurrence of all of the following: (a) the proper execution by Stadium LLC, Stephen M. Ross, and MDL, as the case may be, of such Stadium Agreements in substantially the form attached to this resolution; (b) the Florida legislature enacts SB 306, HB 135 or similar legislation before the current legislature session is adjourned and the Governor signs it into law authorizing the County to levy an additional tourist development room tax and use all or a portion of the revenues generated from such tax to renovate the Stadium (the "Additional Tourist Tax"), subject to a referendum approving the proposed use of such revenues; (c) this Board enacts an ordinance levying such Additional Tourist Tax and authorizing the use of the Additional Tourist Tax for, among other things, the renovation of the Stadium; (d) the National Football League accepts Miami-Dade County's Super Bowl Host Committee's bid for Super Bowl 50 and/or 51 as evidenced by a binding agreement with the NFL relating to such Super Bowl game; (e) affirmation by Stadium LLC and Primary Owner of their respective representations and warranties set forth in Article 7 and Section 11.2.1 of the Modernization Agreement and agreement to bring down those representations and warranties, in each case, as of the effective date of the Modernization Agreement; and (f) approval by the Office of the County Attorney as to legal sufficiency of such executions, approvals and enactments (collectively, the “Conditions Precedent”). The Board hereby authorizes the County Mayor or the County Mayor’s designee to execute the Stadium Agreements on or after the effective date of this Resolution.



Home  |   Agendas  |   Minutes  |   Legislative Search  |   Lobbyist Registration  |   Legislative Reports
2014 BCC Meeting Calendar  |   Miami-Dade County Code of Ordinances   |   ADA Notice  |  

Home  |  Using Our Site  |  About Phone Directory  |  Privacy  |  Disclaimer

E-mail your comments, questions and suggestions to Webmaster  

Web Site © 2014 Miami-Dade County.
All rights reserved.