Approving, setting forth, and submitting to the electorate for their approval or disapproval the following referendum ballot question: “shall city lease approximately 27.62 acres on virginia key to virginia key, LLC for: 45-year initial term with two 15-year renewals; minimum annual guaranteed rent to city of $2,200,000 (with escalations) totaling approximately $203,980,000 over the initial term plus 6% of gross revenues; approximate

AGENDA ITEM SUMMARY FORM File ID: #19189 Date: 04/13/2026 Requesting Department: Department of Real Estate and Asset Management Commission Meeting Date: 06/11/2026 Sponsored By: District Impacted: District 2 Type: Resolution Subject: Ballot Question - Virginia Key LLC Purpose of Item: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING, SETTING FORTH, AND SUBMITTING TO THE ELECTORATE FOR THEIR APPROVAL OR DISAPPROVAL THE FOLLOWING REFERENDUM BALLOT QUESTION: “SHALL THE CITY BE AUTHORIZED TO LEASE APPROXIMATELY 27.5 ACRES OF LAND ON VIRGINIA KEY TO VIRGINIA KEY, LLC FOR A 45-YEAR INITIAL TERM WITH TWO 15 YEAR RENEWALS; MINIMUM ANNUAL GUARANTEED RENT OF $2,200,000.00 (WITH ESCALATIONS) TOTALING APPROXIMATELY $203,984,060 OVER THE INITIAL TERM; 6% OF GROSS REVENUES; APPROXIMATELY $80,000,000.00 PRIVATELY FUNDED INVESTMENT TO REDEVELOP THE MARINAS IN AN ENVIRONMENTALLY SENSITIVE MANNER, INCLUDING BOAT STORAGE, RESTAURANTS, RETAIL, AND PUBLIC PARKING?”; CALLING FOR AND PROVIDING THAT SUCH BALLOT QUESTION WILL BE SUBMITTED TO THE ELECTORATE AT THE REFERENDUM SPECIAL ELECTION TO BE HELD CONCURRENTLY WITH THE GENERAL ELECTION SCHEDULED FOR NOVEMBER 3, 2026; DESIGNATING AND APPOINTING THE CITY CLERK AS THE OFFICIAL REPRESENTATIVE OF THE CITY COMMISSION WITH RESPECT TO THE USE OF VOTER REGISTRATION BOOKS AND RECORDS; FURTHER DIRECTING THE CITY CLERK TO CAUSE A CERTIFIED COPY OF THE HEREIN RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS FOR MIAMI-DADE COUNTY, FLORIDA NOT LESS THAN FORTY FIVE (45) DAYS PRIOR TO THE DATE OF SUCH ELECTION; PROVIDING AN IMMEDIATE EFFECTIVE DATE FOR THIS RESOLUTION. Background of Item: The City of Miami ("City") owns the property located at approximately 3301, 3605, 3501, 3311, and 3511 Rickenbacker Causeway, Miami, Florida on Virginia Key ("Property"). The City issued Request for Proposals No. 16-17-011 ("RFP") on February 17, 2017 to solicit a plan to redesign, construct, renovate, redevelop, lease, manage, and operate a mixed-use waterfront facility, including but not limited to a marina, boatyard, dock master’s office, store, dry storage, wet slip docks, and at least one (1) restaurant at the Property. Three (3) proposals were received and deemed responsive in accordance with the RFP's terms and conditions. Pursuant to the RFP, the City Manager convened a selection committee to review and evaluate the proposals (“Selection Committee”), which ultimately recommended Virginia Key, LLC (“Proposer”) as the top-ranked proposer. The City Manager approved the recommendation of the Selection Committee on June 15, 2017. On June 27, 2017, the second ranked proposer filed a bid protest. On July 20, 2017, in accordance with Chapter 18 of the Code of the City of Miami, Florida, as amended (“City Code”), and the requirements of the RFP, a bid protest hearing was held before a Hearing Officer. On July 27, 2017, the Hearing Officer rendered an order denying the bid protest and affirming the City Manager's recommendation to award a contract to the Proposer as the highest ranked responsive, responsible proposer. On September 1, 2017, the second ranked proposer appealed the Hearing Officer’s decision by filing a petition for Writ of Certiorari to the Eleventh Judicial Circuit in and for Miami-Dade County. The Eleventh Judicial Circuit heard oral arguments on the matter and ultimately denied the second ranked proposer’s petition on July 30, 2018, effectively upholding the Hearing Officer’s decision to affirm the City Manager’s recommendation of the Proposer. On October 11, 2018, the second ranked proposer appealed the decision of the Eleventh Judicial Circuit by filing a petition for Writ of Certiorari to the Third District Court of Appeal of Florida. The Third District Court of Appeal denied the second ranked proposer’s petition on February 13, 2019, effectively upholding the Hearing Officer’s decision to affirm the City Manager’s recommendation of the Proposer. On November 16, 2020, the City Commission passed Resolution No. R-20-0361, rejecting all proposals in connection with the RFP. The Proposer filed Case No. 2021-022931-CA-01 in the Circuit Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida, which held in favor of Proposer, declaring that the City must award the RFP to the Proposer, pending approval by the public. The Eleventh Judicial Circuit’s final judgement was affirmed by the Third District Court of Appeal for the State of Florida pursuant to Case No. 3D23- 436. The City wishes to present the award of the RFP and lease agreement, approved by the City Commission. Budget Impact Analysis Item has NOT an Expenditure Item is NOT Related to Revenue Item is NOT funded by Bonds Total Fiscal Impact: N/A Reviewed By Department of Real Estate and Asset Management Andrew Frey Department Head Review Completed 04/13/2026 12:39 PM Office of Management and Budget Pedro Lacret Budget Analyst Review Completed 04/13/2026 4:22 PM Office of Management and Budget Marie Gouin Budget Review Completed 04/13/2026 5:32 PM City Manager’s Office Erica T. Paschal Assistant City Manager Completed 04/14/2026 10:46 AM City Manager’s Office Natasha Colebrook-Williams Approved on behalf of the City Manager Completed Legislative Division Valentin J Alvarez Legislative Division Review Completed 04/14/2026 3:50 PM Office of the City Attorney Jacqueline Lorenzo ACA Review Pending Office of the City Attorney Xavier Alban Deputy Attorney Review Pending Office of the City Attorney George K. Wysong III Approved Form and Correctness Pending City Commission Todd B. Hannon Meeting Pending 06/11/2026 9:00 AM City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com City of Miami Legislation Resolution File Number: 19189 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING, SETTING FORTH, AND SUBMITTING TO THE ELECTORATE FOR THEIR APPROVAL OR DISAPPROVAL THE FOLLOWING REFERENDUM BALLOT QUESTION: “SHALL CITY LEASE APPROXIMATELY 27.62 ACRES ON VIRGINIA KEY TO VIRGINIA KEY, LLC FOR: 45-YEAR INITIAL TERM WITH TWO 15-YEAR RENEWALS; MINIMUM ANNUAL GUARANTEED RENT TO CITY OF $2,200,000 (WITH ESCALATIONS) TOTALING APPROXIMATELY $203,980,000 OVER THE INITIAL TERM PLUS 6% OF GROSS REVENUES; APPROXIMATELY $80,000,000 PRIVATELY FUNDED INVESTMENT TO REDEVELOP EXISTING RICKENBACKER AND MARINE STADIUM MARINAS IN AN ENVIRONMENTALLY SENSITIVE MANNER, INCLUDING BOAT STORAGE, RESTAURANTS, RETAIL, AND PUBLIC PARKING?”; CALLING FOR AND PROVIDING THAT SUCH BALLOT QUESTION WILL BE SUBMITTED TO THE ELECTORATE AT THE REFERENDUM SPECIAL ELECTION TO BE HELD CONCURRENTLY WITH THE GENERAL ELECTION SCHEDULED FOR NOVEMBER 3, 2026; DESIGNATING AND APPOINTING THE CITY CLERK AS THE OFFICIAL REPRESENTATIVE OF THE CITY COMMISSION WITH RESPECT TO THE USE OF VOTER REGISTRATION BOOKS AND RECORDS; FURTHER DIRECTING THE CITY CLERK TO CAUSE A CERTIFIED COPY OF THE HEREIN RESOLUTION TO BE DELIVERED TO THE SUPERVISOR OF ELECTIONS FOR MIAMI-DADE COUNTY, FLORIDA NOT LESS THAN FORTY FIVE (45) DAYS PRIOR TO THE DATE OF SUCH ELECTION; PROVIDING AN IMMEDIATE EFFECTIVE DATE FOR THIS RESOLUTION. WHEREAS, the City of Miami ("City") owns the property located at approximately 3301, 3605, 3501, 3311, and 3511 Rickenbacker Causeway, Miami, Florida on Virginia Key ("Property"); and WHEREAS, the City issued Request for Proposals No. 16-17-011 ("RFP") on February 17, 2017 to solicit a plan to redesign, construct, renovate, redevelop, lease, manage, and operate a mixed-use waterfront facility, including but not limited to a marina, boatyard, dock master’s office, store, dry storage, wet slip docks, and at least one (1) restaurant at the Property; and WHEREAS, three (3) proposals were received and deemed responsive in accordance with the RFP's terms and conditions; and WHEREAS, pursuant to the RFP, the City Manager convened a selection committee to review and evaluate the proposals (“Selection Committee”), which ultimately recommended Virginia Key, LLC (“Proposer”) as the top-ranked proposer; and WHEREAS, the City Manager approved the recommendation of the Selection Committee on June 15, 2017; and WHEREAS, on June 27, 2017, the second ranked proposer filed a bid protest; and WHEREAS, on July 20, 2017, in accordance with Chapter 18 of the Code of the City of Miami, Florida, as amended (“City Code”), and the requirements of the RFP, a bid protest hearing was held before a Hearing Officer; and WHEREAS, on August 8, 2017, the Hearing Officer entered a final order denying the bid protest and affirming the City Manager's recommendation to award a contract to the Proposer as the highest ranked responsive, responsible proposer; and WHEREAS, on September 1, 2017, the second ranked proposer appealed the Hearing Officer’s decision by filing a Petition for Writ of Certiorari to the Circuit Court of the Eleventh Judicial Circuit in and for Miami-Dade County, Florida (“Circuit Court”), styled Case No. 2017- 000335-AP-01; and WHEREAS, the Circuit Court heard oral arguments on the matter and rendered an opinion on September 11, 2018 denying the second ranked proposer’s petition in Case No. 2017-000335-AP-01, thereby upholding the Hearing Officer’s decision affirming the City Manager’s recommendation to award a contract to the Proposer; and WHEREAS, on October 11, 2018, the second ranked proposer appealed the Circuit Court’s decision by filing a Petition for Writ of Certiorari to the Third District Court of Appeal of Florida (“Third District Court of Appeal”), styled Case No. 3D18-2061; and WHEREAS, on February 13, 2019, the Third District Court of Appeal filed an opinion denying the second ranked proposer’s petition in Case No. 3D18-2061, thereby upholding the Hearing Officer’s decision affirming the City Manager’s recommendation to award a contract to the Proposer; and WHEREAS, on November 16, 2020, the City Commission passed Resolution No. R-20- 0361, rejecting all proposals in connection with the RFP; and WHEREAS, thereafter, the Proposer filed a complaint against the City in the Circuit Court, styled Case No. 2021-022931-CA-01, and on February 10, 2023, the Circuit Court entered a final judgment in favor of Proposer, declaring that the City must award the RFP to the Proposer, pending approval by the public; and WHEREAS, on July 31, 2024, the Third District Court of Appeal filed an opinion affirming the Circuit Court’s final judgment in Case No. 2021-022931-CA-01 pursuant to Case No. 3D23- 436; and WHEREAS, the City wishes to present the award of the RFP and lease agreement (“Lease”), approved by the City Commission pursuant to Resolution No. R-26-_______ adopted concurrently herewith, to the voters for approval;

NOW, THEREFORE,

BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. In accordance with the provisions of Sections 3 and 29-B of the Charter of the City of Miami, Florida, as amended (“Charter”), and § 6.03 of the Miami-Dade County Home Rule Charter, a Referendum Special Election is to be held concurrently with the General Election being called and directed in the City of Miami, Florida, from 7:00 A.M. until 7:00 P.M. on Tuesday, November 3, 2026, for the purpose of submitting to the qualified electors of the City for their approval or disapproval of the proposed award of the RFP and Lease as stated herein. Section 3. The Referendum Special Election shall be held at the polling places in the precincts designated, all as shown on the list attached hereto and made a part hereof and referred to as Exhibit ”A” or as may be designated by the Supervisor of Elections for Miami- Dade County, Florida (“Supervisor”), in conformity with the provisions of the general laws of the State of Florida ("State"). The Precinct Election Clerks and Inspectors to serve at said polling places on said Referendum Special Election date shall be those designated by the Supervisor for such purpose in accordance with the general laws of the State. A description of the registration books and records which pertain to Referendum Special Election precincts wholly or partly within the City and which the City is adopting and desires to use for holding such Referendum Special Election is all voter information cards, registration books, records and certificates pertaining to electors of the City and established and maintained as official by the Supervisor in conformity with the provisions of the general laws of the State, are hereby adopted and declared to be, and shall hereafter be recognized and accepted as, official registration cards, books, records and certificates of the City. Section 4. In compliance with