C4K - Discuss Fillmore Management Agreement

Referral To The Finance And Economic Resiliency Committee, At Its December 18, 2020 Meeting, To Discuss A Proposed Amendment To The City’s Existing Management Agreement With Live Nation Worldwide, Inc., The City’s Operator Of The Fillmore Miami Beach At The Jackie Gleason Theater, To Account For The Significant Adverse Operational Impacts Associated With The Closure Of The Facility Since March, 2020 Due To The Covid-19 Pandemic; With Said Amendment Potentially Including: (1) The Suspension Of Live Nation’s Payment Obligations Until 120 Days After The Facility Is Reopened For Events At Full Capacity; (2) A Credit For Amounts Pre-paid By Live Nation For The 2019-20 Fiscal Year; (3) An Extension Of The Term For The Current Renewal Term Of The Agreement, With The Extension To Correspond With The Period Of Force Majeure Associated With The Covid-19 Pandemic; And (4) The Terms Relating To The Completion Of Required Escalator Repairs At The Facility, In The Amount Of Approximately $162,219.46.