RDA-4 - Approve Moonlighter Fablab Lease Amendment

A RESOLUTION OF THE CHAIRPERSON AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY (RDA), ACCEPTING THE RECOMMENDATION OF THE FINANCE AND ECONOMIC RESILIENCY COMMITTEE, AT ITS APRIL 19, 2024 MEETING, AND APPROVING, IN SUBSTANTIAL FORM, AN AMENDED AND RESTATED LEASE AGREEMENT AMONG THE CITY OF MIAMI BEACH (CITY) AND THE RDA (COLLECTIVELY, LANDLORD) AND MOONLIGHTER FABLAB, INC. (TENANT) FOR USE OF APPROXIMATELY 7,655 SQUARE FEET OF GROUND FLOOR RETAIL SPACE LOCATED AT 1661 PENNSYLVANIA AVENUE (DEMISED PREMISES); SAID LEASE ADDING TWO ADDITIONAL RENEWAL TERMS: (1) A THREE-YEAR RENEWAL TERM, COMMENCING ON MAY 17 2026 AND EXPIRING ON MAY 16, 2029, AND (2) A FINAL RENEWAL TERM OF ONE (1) YEAR AND 364 DAYS, COMMENCING ON MAY 17, 2029 AND EXPIRING ON MAY 15, 2031, TO ENABLE TENANT TO SECURE FUNDS NEEDED TO EXPAND PROGRAMMING AT THE DEMISED PREMISES; AND FURTHER AUTHORIZING THE EXECUTIVE DIRECTOR TO FINALIZE AND EXECUTE THE LEASE. JOINT CITY COMMISSION AND RDA