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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 TAMIAMI LAKES PLAZA, INC., FOR PREMISES LOCATED AT 13250-52 S.W. 8 STREET, MIAMI, TO BE UTILIZED BY THE MIAMI-DADE PUBLIC LIBRARY SYSTEM FOR A PUBLIC LIBRARY, WITH A TOTAL FISCAL IMPACT TO THE COUNTY ESTIMATED TO BE $528,928.00 FOR THE INITIAL FIVE-YEAR TERM OF THE LEASE AND THE ADDITIONAL FIVE-YEAR RENEWAL OPTION PERIOD; AND AUTHORIZING THE COUNTY MAYOR OR THE COUNTY MAYOR�S DESIGNEE TO EXERCISE ANY AND ALL OTHER RIGHTS CONFERRED 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 approves the terms of the Lease Agreement between Miami-Dade County and Tamiami Lakes Plaza, Inc., for the premises to be utilized by the Miami-Dade Public Library System for a public library, with a total fiscal impact to Miami-Dade County estimated to be $528,928.00 for the initial five-year term of the lease and the additional five-year renewal option period, 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.

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Date:

To: Honorable Chairwoman Rebeca Sosa
and Members, Board of County Commissioners

From: Carlos A. Gimenez
Mayor

Subject: Lease Agreement between Miami-Dade County and Tamiami Lakes Plaza, Inc., for the Tamiami
Branch Library Located at 13250-52 SW 8 Street, Miami, Florida
Lease No. 30-4902-025-0010-L01

STAFF RECOMMENDATION
Recommendation

It is recommended that the Board of County Commissioners (Board) approve the attached resolution authorizing the execution of a Lease Agreement between Miami-Dade County (County) and Tamiami Lakes Plaza, Inc. (Landlord), for the Tamiami Branch Library located at 13250-52 S.W. 8 Street, Miami, Florida. More specifically, the resolution does the following:
* Authorizes the leasing of 1,932 square feet of air conditioned commercial space; and
* Authorizes a lease term of five years, plus one additional five-year renewal option period.

Scope
The property is located in County Commission District 11, which is represented by Commissioner Juan C. Zapata.

Fiscal Impact/Funding Source
The total fiscal impact for the first year of the initial lease term will be $35,680. This amount is comprised of $28,784 in annual base rent (approximately $14.90 per square foot), $3,330 for utilities and alarm monitoring, $2,415 for janitorial and custodial services, and a $1,645 lease management fee. The total projected fiscal impact for the initial five-year lease term, plus the additional five-year renewal option term is estimated to be $528,928. The funding source is Library District funds.

Track Record/Monitoring
The County has no record of negative performance issues with the Landlord. Margaret Araujo, Chief Real Estate Officer, Real Estate Development Division; 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 the renewal and cancellation provisions.

MANAGER'S BACKGROUND
Background
The Tamiami Branch Library has been at this location since 2003, with the original lease between the Landlord and the County approved by the Board through R-720-02. The current Lease expires on June 30, 2013, but contains a �Holdover� provision which allows the County to continue occupying the space on a month-to-month basis until the proposed Lease is approved.

Additional lease details are as follows:

COMPANY PRINCIPALS: Elides J. Guerrero, President/Director
Javier Arraiz, Vice President/Director/Secretary
Joel Benes, Manager

JUSTIFICATION: The Miami-Dade Public Library System has a need to continue utilizing this facility to provide services to the residents of District 11.

LEASE TERM: Five years, plus one additional five year renewal option period.

EFFECTIVE DATES: Commencing on the first day of the month following the effective date of the resolution approving the Lease Agreement, and terminating five years thereafter.

RENTAL RATE: The annual rent for the first lease year of the initial lease term will be $28,784.36, which is approximately $14.90 per square foot on an annual basis. The annual rent for the second year of the initial lease term will be $41,120.52, which is approximately $21.28 per square foot. The annual rent for the third through the fifth lease year of the initial lease term and any subsequent renewal option period, shall be adjusted as per the consumer price index pursuant to Article XVIII of the Lease. In no event shall the increase exceed three percent annually, or be less than the rent for the immediately preceding year.

LEASE CONDITIONS: The Landlord is responsible for water and sewer, maintenance of the building, common areas, air conditioning and the structure of the building. The County is responsible for electricity, fire equipment, janitorial and custodial services, phone, data and security.

CANCELLATION PROVISION: The County may cancel at any time by giving the Landlord 60 days written notice prior to its effective date.

OTHER PROPERTIES
EVALUATED: 3011 S.W. 107 Avenue, Miami � $20.50 per square foot on an annual basis for a modified gross lease, plus a prorated share of the building�s operating expenses, which are estimated to be $2.00 per square foot on an annual basis.

13914 S.W. 8 Street, Miami � $21.00 per square foot on an annual basis for a triple net lease. The estimated cost for operating expenses is approximately $7.00 per square foot on an annual basis.

14218 S.W. 8 Street, Miami � $22.00 per square foot on an annual basis for a triple net lease. The estimated cost for operating expenses is approximately $5.00 per square foot on an annual basis.

Attachment

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Lisa Martinez
Senior Advisor