R7BB - Approve Art Basel Multi-year License Agreement

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING, IN SUBSTANTIAL FORM, (1) A MULTI-YEAR LICENSE AGREEMENT (AGREEMENT) BETWEEN GLOBAL SPECTRUM, L.P. D/B/A OAK VIEW GROUP/OVG 360, AS OPERATOR OF THE MIAMI BEACH CONVENTION CENTER (MBCC), AND ART BASEL U.S. CORP. (ABUSCO) FOR THE USE OF THE MBCC FOR THE 2026-2031 ART BASEL MIAMI BEACH SHOWS; AND (2) A LETTER OF UNDERSTANDING (LOU) BETWEEN THE CITY AND ABUSCO RELATING TO ESTABLISHMENT OF THE “ART BASEL ZONE” AND OUTLINING CERTAIN PUBLIC BENEFITS TO BE PROVIDED BY ABUSCO TO THE CITY; AUTHORIZING THE CITY MANAGER TO FINALIZE THE AGREEMENT AND LOU CONSISTENT WITH THE PRINCIPAL TERMS SET FORTH IN THIS RESOLUTION; AND FURTHER AUTHORIZING THE CITY MANAGER AND CITY CLERK TO EXECUTE THE AGREEMENT AND LOU, SUBJECT TO FORM APPROVAL BY THE CITY ATTORNEY.