C7N - Approve 3-year Lease Renewal for Cafe

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING, IN SUBSTANTIAL FORM, AMENDMENT NO. 2 TO THE LEASE AGREEMENT DATED MAY 25, 2018 BETWEEN THE CITY (LANDLORD) AND THE COLONY THEATER CAFE, INC. D/B/A SEGAFREDO ZANETTI ESPRESSO (TENANT), FOR THE USE OF APPROXIMATELY 1,092 SQUARE FEET OF CITY-OWNED PROPERTY, LOCATED AT 1040 LINCOLN ROAD (DEMISED PREMISES), PLUS AN ADDITIONAL STORAGE/DUMPSTER AREA; SAID AMENDMENT APPROVING THE SECOND AND FINAL THREE (3) YEAR RENEWAL TERM OF THE LEASE, COMMENCING RETROACTIVELY ON MARCH 1, 2024 AND EXPIRING ON FEBRUARY 28, 2027, AND MODIFYING THE FINANCIAL TERMS DURING SAID RENEWAL TERM IN ORDER TO ADDRESS THE SUSTAINED REDUCTION IN REVENUES WHICH TENANT HAS EXPERIENCED SINCE THE ADVENT OF THE COVID-19 PANDEMIC; AND FURTHER AUTHORIZING THE CITY MANAGER TO FINALIZE AND EXECUTE THE AMENDMENT.