R7BB - Waive Art Contribution for Bass Museum

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING THE INSTALLATION BY THE BASS MUSEUM OF ART OF PUBLIC ARTWORKS HAVING AN AGGREGATE VALUE OF APPROXIMATELY $5,217,500 WITHIN THE GENERAL OBLIGATION BOND-FUNDED PUBLIC GARDEN AT THE BASS MUSEUM OF ART AND THROUGHOUT COLLINS PARK; FINDING THAT THE VALUE OF THE PUBLIC ARTWORKS SUBSTANTIALLY EXCEEDS THE TWO PERCENT (2%) ART IN PUBLIC PLACES CONTRIBUTION THAT WOULD APPLY TO THE BASS MUSEUM GENERAL OBLIGATION BOND PROJECT, WHICH IS ESTIMATED TO BE BETWEEN $300,000 AND $400,000; WAIVING, BY A 5/7THS VOTE AND PURSUANT TO SECTION 82-587(c) OF THE CITY CODE, THE REQUIRED ART IN PUBLIC PLACES CONTRIBUTION AND APPROPRIATION IN AN AMOUNT NOT TO EXCEED APPROXIMATELY $400,000, AS CALCULATED BASED UPON THE PROJECT’S FINAL CONSTRUCTION COST, IN FAVOR OF THE BASS MUSEUM OF ART FUNDING AND INSTALLING THE IDENTIFIED PUBLIC ARTWORKS; FINDING SUCH WAIVER TO BE IN THE BEST INTEREST OF THE CITY; AND AUTHORIZING THE CITY ADMINISTRATION TO TAKE ALL ACTIONS NECESSARY TO IMPLEMENT THIS RESOLUTION.