R5AK - Allow Larger Advance for City Event Sponsorship

AN ORDINANCE OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AMENDING CHAPTER 12 OF THE CODE OF THE CITY OF MIAMI BEACH, ENTITLED, "ARTS, CULTURE AND ENTERTAINMENT," BY AMENDING ARTICLE III, ENTITLED "CITY SPONSORSHIP OF EVENTS," BY AMENDING SECTION 12-9 THEREOF, ENTITLED "SPONSORSHIP TERMS AND CONDITIONS" TO ALLOW FOR A LARGER ADVANCE OF ANY CITY CASH SPONSORSHIP CONTRIBUTION MADE IN ADVANCE OF THE EVENT IF (A) THE EVENT ORGANIZER CAN ESTABLISH THAT LIMITING THE ADVANCE TO FIFTEEN PERCENT (15%) WOULD CAUSE AND UNDUE HARDSHIP, (B) THE EVENT ORGANIZER IS A MIAMI BEACH-BASED NON-PROFIT ORGANIZATION, (C) THE EVENT ORGANIZER HAS PRODUCED THE EVENT IN QUESTION FOR AT LEAST FIVE (5) YEARS, AND (D) THE EVENT BUDGET IS NOT GREATER THAN $500,000; AND PROVIDING FOR REPEALER, SEVERABILITY, CODIFICATION, AND AN EFFECTIVE DATE.