Water Park Soccer Complexes On Way
Written by Lou Ortiz on October 4, 2012
By Lou Ortiz
A new water park and two separate facilities with mini-soccer complexes are coming to Miami-Dade County, along with more yearly revenue for the county coffers.
On Tuesday, the county commission approved a licensing contract with Miami Wake Board Cable Complex — which does business as Miami Watersports Complex — to develop a water sports complex at Amelia Earhart Park for the Parks, Recreation and Open Spaces Department (PROS).
"The firm will develop a water sports complex that will consist of a state-of-the-art cable skiing system and related infrastructure, and offer other water-related sports activities, instructions and lessons, as well as provide concessions and bathroom facilities, at no cost to the county," according to Lisa M. Martinez, a senior advisor in the mayor’s office.
"The county will receive a minimum annual guaranteed rent or percentage of gross receipts, whichever is greater," she said.
"The minimum estimated revenue to PROS is $840,000 over the initial 20-year term, based on the negotiated minimum annual guaranteed rent of $42,000 per year," Ms. Martinez said. "However, if the licensee’s gross receipts are between $525,000 and $1,250,000 per year, the rent due to the county will be calculated at 8% of the licensee’s monthly gross receipts."
The percentage of gross receipts will increase to 10% on the portion of yearly revenues that exceed $1,250,000, Ms. Martinez said. The agreement has two five-year option-to-renew terms at the same financial terms.
The company, whose principal is real estate professional Michael Fay and is located in Coral Gables, currently operates a small water park facility at the park.
According to the county, a request for proposals was issued for the water park. The county also advertised and sent notices to more than 900 potentially interested parties.
The request asked for "experienced and capable parties to develop, finance, design, construct, operate, and maintain a wakeboard complex that would provide wakeboarding, waterskiing, wake surfing, tubing, and kneeboard rentals and lessons at Amelia Earhart Park."
The county received only one proposal. The vendor is currently operating a "scaled-down version of a wakeboard complex at Amelia Earhart Park," documents show.
Meanwhile, the new mini-soccer complexes at Amelia Earhart Park and Tropical Park are expected to generate nearly $1.2 million in revenue.
Commissioners Tuesday approved lease agreements with Miami-based US Soccer 5 LLC for the development and operation of mini-soccer complexes at Amelia Earhart Park and Tropical Park.
"The lessee will construct fields, install fencing and lighting (irrigation systems), provide concessions and bathroom facilities to operate the mini-soccer complexes, at no cost to the county," county documents show. "The county will receive a minimum annual guaranteed rent and percentage of gross receipts from both parks."
"For Amelia Earhart Park, the negotiated projected revenues to the county over the initial 10-year term is anticipated to be $426,000," documents show. "This amount is composed of $122,000 in minimum guaranteed rent, and $304,000 in revenue as a projected percentage of gross receipts, based on a percentage of 7% in years one to six, and 8% in years seven to 10, and option terms, if exercised."
"For Tropical Park, the negotiated projected revenue to the county over the initial 10-year term is anticipated to be $770,000," according to county documents. "This amount is composed of $293,000 in minimum guaranteed rent, and $477,000 in revenue as a projected percentage of gross receipts, based on a percentage of 7% in years one to five, and 8% in years six to 10, and option terms, if exercised."
"The lessee anticipates that revenues at Tropical Park will be greater than at Amelia Earhart Park," Ms. Martinez said. "As such, the lease includes a provision that would increase the monthly guaranteed rent at Amelia Earhart in parity with the monthly guaranteed rent at Tropical Park should the overall revenues at Amelia Earhart reach the revenue levels projected at Tropical Park."
She said a request for proposals went out Nov. 4, 2011, and the top proposer was US Soccer 5 LLC, 8011 SW 127th Ave. The firm’s principal is Scott Georgeson.
In September, the commission approved a resolution that outlines a general plan for transforming 47.33 acres at 9000 NW 58th St. into a regional soccer park. The county hopes the former landfill will be developed and transformed into a mecca for international soccer matches in the county.
The county plans to request proposals this year to attract FIFA-type entities — teams affiliated with the Federation Internationale de Football Association (International Federation of Association Football), a 208-member association that every four years puts on the prestigious World Cup.
The request is expected to call for eight full-size soccer athletic fields, with one designed as a stadium; a stadium field house that would consist of grandstands, press boxes, lockers, coaches’ rooms, judges’ rooms, restrooms, equipment and storage areas, along with ticketing, cash management and offices; and an academy building for the south end to be used as a sports training facility and overnight lodging.To read the entire issue of Miami Today online, subscribe to e -Miami Today, an exact digital replica of the printed edition.