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RESOLUTION APPROVING TERMS OF AND AUTHORIZING EXECUTION BY THE COUNTY MAYOR OR THE COUNTY MAYOR�S DESIGNEE OF A LEASE AGREEMENT BETWEEN MIAMI-DADE COUNTY AND GRI-EQY (CONCORD) LLC, A DELAWARE LIMITED LIABILITY COMPANY, FOR THE PREMISES LOCATED AT 3882 SW 112 AVENUE, MIAMI, FLORIDA TO BE UTILIZED BY THE MIAMI-DADE PUBLIC LIBRARY SYSTEM FOR LIBRARY AND OFFICE SPACE, WITH TOTAL FISCAL IMPACT TO THE MIAMI-DADE PUBLIC LIBRARY SYSTEM ESTIMATED TO BE $604,741.13, FOR THE FIVE YEAR TERM OF THE LEASE; AND AUTHORIZING THE COUNTY MAYOR OR THE COUNTY MAYOR�S DESIGNEE TO EXERCISE ANY AND ALL OTHER RIGHTS CONTAINED THEREIN

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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 incorporates the foregoing recital and approves a Lease Agreement between Miami-Dade County and GRI-EQY (Concord) LLC, a Delaware Limited Liability Company, for the premises located at 3882 SW 112 Avenue, Miami, Florida, to be utilized by the Miami-Dade Public Library System for library and office space with a total fiscal impact to the Miami-Dade Public Library System estimated to be $604,741.13, for the five year term of the Lease Agreement, in substantially the form attached hereto and made a part hereof; and authorizes the County Mayor or the County Mayor�s designee to execute the lease agreement for and on behalf of Miami-Dade County and to exercise any and all other rights contained therein.

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Date:

To: Honorable Chairman Jean Monestime
and Members, Board of County Commissioners

From: Carlos A. Gimenez
Mayor

Subject: Lease Agreement between Miami-Dade County and GRI-EQY (Concord) LLC, a Delaware
Limited Liability Company, for the Concord Branch Library Located at 3882 SW 112
Avenue, Miami, Florida
Lease No. 30-4018-094-0010�L01

STAFF RECOMMENDATION
Recommendation
It is recommended that the Board of County Commissioners (Board) authorize the execution of a Lease Agreement between Miami-Dade County (County) and GRI-EQY, LLC (Concord), , a Delaware limited liability company, otherwise referred to in this memorandum as the Landlord, for the Miami-Dade Public Library System�s Concord Branch located at 3882 SW 112 Avenue, Miami, Florida. More specifically, the resolution does the following:
* Authorizes the leasing of 3,000 rentable square feet of air-conditioned and heated office space, together with on-site parking in common with other tenants; and
* Authorizes a lease term of five (5) years, with no renewal periods.

Scope
The property is located in County Commission District 10, which is represented by Senator Javier D. Souto.

Fiscal Impact/Funding Source
The total fiscal impact for the first year of the initial lease term will be $112,867.20. This amount is comprised of $98,430.00 in annual base rent (approximately $32.81 per square foot), $4,500.00 for electricity, $2,250.00 for water and sewer, $3,750.00 for janitorial and custodial services and a $3,937.20 lease management fee. The lease management fee, which equals four (4) percent of the annual base rent, will be paid by the Miami-Dade Public Library System to the Internal Services Department for administration of the Lease Agreement.

The total projected fiscal impact for the five-year lease term is estimated to be $604,741.13, which factors in an annual 3.5 percent increase commencing on the second year of the lease term. The Miami-Dade Public Library System�s district funds will cover the lease expenses.

Track Record/Monitor
The County has no record of negative performance issues with the Landlord. This Lease was prepared by the Internal Services Department on behalf of the Miami-Dade Public Library System. Dirk Duval of the Real Estate Development Division in the Internal Services Department is the lease monitor.

Delegation of Authority
Authorizes the County Mayor or the County Mayor�s designee to execute the attached Lease Agreement and exercise all rights conferred herein.

Background
The Concord Branch Library has been at this location since 2004 and the County would like to continue operating the branch library. The library is currently operating in a month-to-month holdover from the prior lease, and the recommended lease will become effective on the first day of the next calendar month following the effective date of the resolution by the Board approving this matter.

Additional lease details are as follows:

COMPANY PRINCIPALS: Arthur L. Gallagher, Vice President
Aaron Kitlowski, Vice President

LEASE TERM: Five (5) years with no renewal periods

EFFECTIVE DATES: Commencing on the first day of the next calendar month following the effective date of the resolution approved by Board that approves this Lease Agreement.

RENTAL RATE: The County currently pays annual rent in the amount of $98,724.00 ($32.91 per square foot), which is $8,227.00 per month and includes all operating expenses such as common area maintenance, real estate taxes, and insurance. The annual rent for the first lease year of the new lease term will be $98,430.00, which is equal to $8,202.50 per month, which is approximately $32.81 per square foot on an annual basis, inclusive of the common area maintenance, real estate taxes, and insurance. The annual rent for the second through the fifth lease year shall increase by 3.5 percent per year pursuant to the terms of the Lease.

LEASE CONDITIONS: The Landlord is responsible for maintaining and keeping the building in good repair, condition, and appearance, including exterior common areas, air conditioning and the roof. The County is responsible for utilities, including water, electricity, waste disposal, janitorial and custodial services.

CANCELLATION PROVISION: The County may cancel at any time by giving the Landlord 90 days written notice prior to its effective date.

OTHER PROPERTIES
EVALUATED: 1615 SW 107 Avenue, Miami � $36.00 per square foot on an annual basis. The County would be responsible for the operating costs.

9373-9459 SW 56 Street, Miami � $34.98 per square foot on an annual basis. The County would be responsible for the operating costs.

Attachment


__________________________
Michael Spring
Senior Advisor