Proposed Charter Amendment Allowing Aligned Bayshore (Monty's) a Lease extension providing additional rent and investments
Shall Miami’s Charter be amended to extend Aligned Bayshore Marina, LLC’s (“Monty’s”) Lease, requiring Commission to waive competitive bidding, under these terms:• 32-year lease extension plus two 10-year options;•Monty’s to pay the City $10,000,000.00 in additional rent or an additional 1.75% of gross revenues, whichever is greater, but no less than $1,500,000.00 per year beginning in 2019; and•Monty’s contributes $7,500,000.00 in property improvements and a minimum of $4,000,000.00 for future improvements?
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Yes - For the Measure
No - Against the Measure
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