Awarding request for proposals no. 16-17-011 (“RFP”) for the lease of city of miami-owned waterfront property for marinas/restaurant/store uses located at approximately 3301, 3605, 3501, 3311, and 3511 rickenbacker causeway, miami, florida, as more particularly described in the attached and incorporated exhibit “a” (“property”), to virginia key, LLC ("proposer") subject to approval by a majority of the votes cast by the electorate at

AGENDA ITEM SUMMARY FORM File ID: #19190 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: Award RFP Lease - Virginia Key LLC Purpose of Item: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AWARDING REQUEST FOR PROPOSALS NO. 16-17-011 (“RFP”) FOR THE LEASE OF CITY OF MIAMI- OWNED WATERFRONT PROPERTY FOR MARINAS/RESTAURANT/STORE USES LOCATED AT APPROXIMATELY 3301, 3605, 3501, 3311, & 3511 RICKENBACKER CAUSEWAY, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN THE ATTACHED AND INCORPORATED EXHIBIT “A” (“PROPERTY”) TO VIRGINIA KEY, LLC ("PROPOSER") SUBJECT TO APPROVAL BY A MAJORITY OF THE VOTES CAST BY THE ELECTORATE AT A REFERENDUM ELECTION; AUTHORIZING THE CITY MANAGER TO EXECUTE A LEASE AGREEMENT ("LEASE"), IN SUBSTANTIALLY THE FORM ATTACHED AND INCORPORATED AS EXHIBIT “B,” WITH PROPOSER FOR AN INITIAL TERM OF FORTY- FIVE (45) YEARS, WITH TWO (2) FIFTEEN (15) YEAR RENEWAL TERMS AND PAYMENT TO THE CITY OF A MINIMUM GUARANTEED ANNUAL RENT EQUAL TO TWO MILLION TWO HUNDRED THOUSAND DOLLARS ($2,200,000), INCREASED ANNUALLY, PLUS PERCENTAGE RENT EQUAL TO SIX PERCENT (6%) OF GROSS REVENUES FOR THE PRIVATELY FUNDED REDEVELOPMENT OF A MARINA ON THE PROPERTY, INCLUDING BOAT STORAGE, RESTAURANTS, RETAIL, AND PUBLIC PARKING, AS MORE PARTICULARLY SET FORTH IN THE LEASE SUBJECT TO APPROVAL BY A MAJORITY OF THE VOTES CAST BY THE ELECTORATE AT A REFERENDUM ELECTION, AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE CITY CHARTER AND ALL OTHER APPLICABLE LAWS; PROVIDING FOR AN EFFECTIVE DATE. 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, as more particularly described in the attached and incorporated Exhibit “A” ("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. Budget Impact Analysis Item is Related to Revenue Item has NOT an Expenditure 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 4:10 PM Office of Management and Budget Marie Gouin Budget Review Completed 04/13/2026 5:29 PM City Manager’s Office Erica T. Paschal Assistant City Manager Completed 04/14/2026 10:45 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 11:50 AM Office of the City Attorney Jacqueline Lorenzo ACA Review Completed 05/14/2026 5:13 PM Office of the City Attorney Xavier Alban Deputy Attorney Review Completed 06/02/2026 11:29 AM Office of the City Attorney George K. Wysong III Approved Form and Correctness Completed 06/02/2026 6:07 PM 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: 19190 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AWARDING REQUEST FOR PROPOSALS NO. 16-17-011 (“RFP”) FOR THE LEASE OF CITY OF MIAMI-OWNED WATERFRONT PROPERTY FOR MARINAS/RESTAURANT/STORE USES LOCATED AT APPROXIMATELY 3301, 3605, 3501, 3311, AND 3511 RICKENBACKER CAUSEWAY, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN THE ATTACHED AND INCORPORATED EXHIBIT “A” (“PROPERTY”), TO VIRGINIA KEY, LLC ("PROPOSER") SUBJECT TO APPROVAL BY A MAJORITY OF THE VOTES CAST BY THE ELECTORATE AT A REFERENDUM ELECTION; AUTHORIZING THE CITY MANAGER TO EXECUTE A LEASE AGREEMENT ("LEASE"), IN SUBSTANTIALLY THE FORM ATTACHED AND INCORPORATED AS EXHIBIT “B,” WITH PROPOSER FOR AN INITIAL TERM OF FORTY-FIVE (45) YEARS, WITH TWO (2) FIFTEEN (15) YEAR RENEWAL TERMS, AND PAYMENT TO THE CITY OF A MINIMUM GUARANTEED ANNUAL RENT EQUAL TO TWO MILLION, TWO HUNDRED THOUSAND AND 00/100 DOLLARS ($2,200,000.00) INCREASED ANNUALLY, PLUS PERCENTAGE RENT EQUAL TO SIX PERCENT (6%) OF GROSS REVENUES FOR THE PRIVATELY FUNDED REDEVELOPMENT OF A MARINA ON THE PROPERTY, INCLUDING BOAT STORAGE, RESTAURANTS, RETAIL, AND PUBLIC PARKING, AS MORE PARTICULARLY SET FORTH IN THE LEASE, SUBJECT TO APPROVAL BY A MAJORITY OF THE VOTES CAST BY THE ELECTORATE AT A REFERENDUM ELECTION, AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE CITY CHARTER AND ALL OTHER APPLICABLE LAWS; PROVIDING FOR AN EFFECTIVE DATE. 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, as more particularly described in the attached and incorporated Exhibit “A” ("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 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; 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 issued 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 issued an opinion affirming the Circuit Court’s final judgment in Case No. 2021-022931-CA-01 pursuant to Case No. 3D23-436;

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 herein as if fully set forth in this Section. Section 2. The RFP is hereby awarded to Proposer subject to approval by a majority of the votes cast by the electorate at a referendum election. Section 3. The City Manager is authorized1 to execute a lease agreement for the Property, in substantially the form attached and incorporated as Exhibit “B,” with Proposer for an initial term of forty-five (45) years, with two (2) fifteen (15) year renewal terms and payment to the City of a minimum guaranteed annual rent equal to Two Million, Two Hundred Thousand and 00/100 Dollars ($2,200,000.00), increased annually, plus percentage rent equal to six percent (6%) of gross revenues for the privately funded redevelopment of a marina on the Property, including boat storage, restaurants, retail, and public parking, as more particularly set forth in such lease agreement, subject to approval by a majority of the votes cast by the Electorate at a Referendum Election, and in accordance with the requirements of the City Charter and all other applicable laws. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to, those prescribed by applicable City Charter and City Code provisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.