City Of Miami Presentation

City of Miami Presentation June 12, 2014

Soaring 1,000 feet in the air, a beacon of the New Miami Miami, the iconic SkyRise Miami will redefine the city’s skyline. Perched on the shore of Biscayne Bay, SkyRise Miami will be Miami’s most distinctive and visible building for decades to come.

Location

A BUILDING LIKE NO OTHER Designed to withstand wind speeds of 186 mph (1,700 year 3-second gust) Wind base shear 23 million pounds(1,500 elephants) 1.15 million ft. of post-tension cable (218 miles or 425 tons of 0.6’’ strand) 1,000 ft. high Over 30,000 tons of reinforcing and structural steel (more than 3 Eiffel Towers) Driving 130 piles 150 ft. deep to support the tower 100,000 cubic yards of concrete ((a 4 ft. wide sidewalk from Miami to Tallahassee)

SKYRISE MIAMI AT THE EPICENTER OF THE NEW MIAMI BAYSIDE MARKETPLACE 23 MILLION ANNUAL VISITORS PORTMIAMI CRUISE CAPITAL OF THE WORLD 4 MILLION ANNUAL VISITORS AMERICAN AIRLINES ARENA HOME OF THE MIAMI HEAT 820,000 ANNUAL VISITORS ADRIENNE ARSHT CENTER FOR THE PERFORMING ARTS 450,000 ANNUAL VISITORS PÉREZ ART MUSEUM MIAMI 200,000 PROJECTED ANNUAL VISITORS MIAMI SCIENCE MUSEUM 550,000 PROJECTED ANNUAL VISITORS BAYFRONT PARK MIAMI BEACH & SOUTH BEACH 500,000 ANNUAL VISITORS MILLIONS OF ANNUAL VISITORS

Pier Park

Pier Park

Pier Park

SkyRise y Miami

The View

The View

40 Mile View

SKYRISE MIAMI ENTERTAINMENT SKYRISE SKY HIGH CLUB Miami and South Beach are already known for the finest, most exclusive private clubs anywhere. But the SkyRise’s Club, perched almost 1,000 feet above the glittering skyline, will be one of the most exclusive in the world. SKYRISE OBSERVATION DECKS Miami’s skyline and ocean views are already some of the most beautiful in the world. Now imagine how those views will be magnified by the soaring height and unlimited vistas of the SkyRise’s three observation decks. SKYRISE RESTAURANT If fine dining is an experience, then the new SkyRise Restaurant will rival the finest dining anywhere anywhere. The only difference? This experience will begin almost 1,000 feet above Miami’s incredible views. SKYRISE NIGHTCLUB All of the elegance and excitement of Miami’s club scene will now be topped by this ultimate nightclub perched almost 1,000 feet above the earth. SKYRISE BALLROOM Major events in South Florida and the Americas will be planned in the SkyRise Ballroom, Ballroom where each elegant event promises to be out of this world.

SKYRISE MIAMI MEMBER’S CLUB AND OBSERVATION DECK

SKYRISE MIAMI MEMBER’S CLUB AND OBSERVATION DECK

SKYRISE MIAMI MEMBER’S CLUB AND OBSERVATION DECK

SKYRISE MIAMI MEMBER’S CLUB AND OBSERVATION DECK

SKYRISE MIAMI CONCEPTUAL RENDERING MAIN INDOOR OO AND OU OUTDOOR OO OBSERVATION O S O DECKS C S

SKYRISE MIAMI ATTRACTIONS SKY PLUNGE Sky Plunge can be described as base-jumping using a sophisticated bungee-like safety system by which jumpers are attached to a high-speed controlled descent wire. controlled-descent wire Or it can be described as as, “WhooHoooooo” SKYRISE DROP Just like parachuting out of an airplane, riders will experience the thrill of free fall followed by the jolt of extremely rapid deceleration. SkyRise Drop Miami is destined to become one of the most exciting rides in the world. SKYRISE THEATER The dream of flying comes to life in our motion-based simulator. That only starts to explain the thrill of flight that theater-goers will enjoy in the SkyRise Theater. Similar to Soarin’ at Disney World’s Epcot , the SkyRise Theater will make dreams a reality.

SKY PLUNGE 570Ft. Thrill Ride Only Plunge in the World Inside a Building Reaching Speeds of 55 MPH

SKY PLUNGE 570Ft Height Inside the Tower

SKYRISE DROP 650 Ft Ft. D Drop Tallest/Longest Drop in the World 12 Passengers 100 MPH Speed

SKYRISE DROP 650 Ft Ft. D Drop Tallest/Longest Drop in the World 12 Passengers 100 MPH Speed

SKYRISE DROP

SKYRISE THEATRE Capacity 72 Riders 6 Minutes Duration Movie will Feature the Best Views of South Florida and Miami

SKYRISE THEATRE

SKYRISE THEATRE

SKYRISE THEATRE

TOP FIVE AMUSEMENT/THEME ATTRACTIONS IN FLORIDA MILLIONS OF VISITOR PER YEAR WALT DISNEY WORLD ORLANDO 907 Acres UNIVERSAL ORLANDO 235 Acres 200 Acres SEAWORLD ORLANDO BUSCH GARDENS TAMPA 335 Acres 1.85 Acres SKYRISE MIAMI ESTIMATED 3.2 MM VISITORS PER YEAR

Largest a gest Attraction tt act o in Sout South Florida o da

Largest a gest Attraction tt act o in Sout South Florida o da

SkyRise Miami: Miami’s Miami s Eiffel Tower BACK

FAMOUS OBSERVATION TOWERS OF THE WORLD

FAMOUS OBSERVATION TOWERS OF THE WORLD EIFFEL TOWER 250 MILLION Visitors Since 1889 Currently Averaging 7.0 Million Annual Visitors SKYRISE MIAMI Projected 3.2 Million Annual Visitors TOKYO SKYTREE ORIENTAL TOWER PEARL TOWER Currently Currently Averaging Averaging 6.4 Million 4.0 Million Annual Visitors Annual Visitors

FAMOUS OBSERVATION TOWERS OF THE WORLD A Beacon of the 21st Century Global Cities GUANGZHOU, CHINA Canton Tower TOKYO, JAPAN Tokyo Skytree SHANGHAI, CHINA Oriental Pearl Tower KUALA LUMPUR, MALAYSIA Menara Tower MACAU, CHINA Macau Tower

FAMOUS OBSERVATION TOWERS OF THE WORLD EIFFEL TOWER 250 M Visitors Since 1889 Currently Averaging 7MM Annual Visitors EMPIRE STATE BUILDING TOKYO O O SKYTREE TOWER NYC C WORLD O TRADE CENTER ORIENTAL O PEARL TOWER 117M Visitors Since 1931 Averaging 4MM Annual Visitors Currently Averaging 6.4 MM Annual Visitors Projected 3.8 MM Annual Visitors Currently Averaging 4MM Annual Visitors

Envisioned s o ed by DDA

The Power of an Image The image alone creates recognition

A place brand creates a narrative about a locality in order to make it recognizable i bl tto outsiders t id

Concept is utilized by Major US Cities to create recognition

Globalization (competition for global recognition has intensified)

What’s What s the Eiffel Tower worth to Paris? 1 Eiffel Tower, 1. Tower Paris 576 24 576.24 Billion 2. The Coliseum, Rome 120.96 Billion 3 The 3. Th Sagrade S d Familia F ili Cathedral, C th d l B Barcelona l 119 28 119.28 Billi Billion 4. The Duomo Cathedral, Milan 109.2 Billion 5. The Tower of London 94.08 Billion 6. The Prado Museum, Madrid 77.28 Billion Study by Italy's Monza and Brianza Chamber of Commerce

SKYRISE MIAMI An Economic Engine for the y of Miami City

Economic Impact SkyRise Miami will be a game-changing asset of the Entertainment and Visitor Industry in Miami-Dade Country. Sk Ri Mi SkyRise Miamii presence will ill enhance h th St the State t and d Mi Miami-Dade iD d C County’s t ’ global brand as a top entertainment and leisure destination for both domestic and international visitors, creating thousands of jobs in a variety of industries. SkyRise Miami strengthens the Economic Development Strategy of Miami–Dade and Florida in the targeted Entertainment and Visitor cluster of industries, that has been selected by The Beacon Council’s One Community One Goal plan for additional expansion. SkyRise Miami will also be a top economic development generator for Miami MiamiDade by supporting the recruitment of new visitors to the area.

Summary of the Economic Impacts of SkyRise Miami During the Construction Phase to the City of Miami Source: The Washington Economics Group, Inc. August 2013 (WEG).

Summary of the Recurring Economic Impacts of SkyRise Miami During Operations on the City of Miami Source: The Washington Economics Group, Inc. August 2013 (WEG).

BENEFITS TO THE CITY OF MIAMI ANNUAL RECURRING REVENUES Guaranteed Minimum Rent - 1,059,082 o Escalation – annual CPI increases with a 3% cap, plus as an adjustment every 10 years based on an appraisal process with a 10% cap over the immediate preceding year’s minimum rent. Percentage Parking Revenues – 6% of gross parking revenues for spaces located underneath the Tower. Percentage Rent – 1% of actual gross revenues over 55 Million, excluding parking revenues for spaces located underneath the Tower. City’s portion of real estate taxes on Tower improvements – estimated at 1.4 Million after construction. T Tower parking ki surcharge h – 15% off gross revenues estimated ti t d att 337 337,500 500 in first year of operations.

ADDITIONAL BENEFITS TO THE CITY OF MIAMI 5,335 jobs during construction & 13,332 jobs during operations One of the largest private employers, if not the largest, within the City of Miami (900) Total Economic Impact during construction - 655 Million Total Annual Economic Impact during operations - 1.039 Billion Estimated 5 Million in permit / building fees to City of Miami Transfer Fee upon sale or transfer: – – 3% of gross selling price for first 5 years; 2% in years 6-10 and 1.5% thereafter 5,400 square feet fire sub-station and marina office (rent free) Iconic waterfront structure per Downtown Development Authority’s master plan Iconic structure that enhances the City’s global brand as a top entertainment and leisure destination The largest attraction in South Florida Terminal value of SkyRise Miami belongs to the City of Miami Fully reimbursed for any marina loss revenues during construction Millions of dollars of free marketing for the City of Miami AT ZERO INVESTMENT BY THE CITY OF MIAMI

City of Miami SkyRise Miami Revenues During Operations Total 96 Years - 781.54MM Million 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2 000 000 2,000,000 ‐ Year 1 Year 10 Year 20 Year 30 Year 40 Year 50 Year 60 Year 70 Year 80 Property Taxes Base Rent Tower Percentage Rent Tower Parking Rent Tower Parking Surcharge Tower Year 90 Year 96

City of Miami Bayside and SkyRise Miami Revenues During 99 Year Term Million Total 99 Years - 1.78 1 78 Billion 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 ‐ Year 1 Year 10 Year 20 Year 30 Year 40 Bayside Year 50 Year 60 SkyRise Miami Year 70 Year 80 Year 90 Surface Parking Year 99

City of Miami Revenue Comparison During Operation Pier Surface Parking vs. SkyRise Miami Millions 96 Year Lease Yearly ea y Average e age 96 Year Lease 781,544,356 8,141,087 800 MM 96 year lease difference in revenues totals 717,242,334 Millions 8 MM Difference in average revenues of 7,471,274 per year 400 MM 4MM 65 MM 670K 669,813 64,302,022 Pier Surface Parking SkyRise Miami Pier Surface Parking SkyRise Miami

JOB CREATION/ECONOMIC IMPACT - IMMEDIATE TIMELINE JUNE 2014 OCT 2014 OCT 2015 Commence Pilling Work Commence Foundation Construction Commence Vertical Construction DEC 2017 OPENING

The TEAM Has built almost One Half a Billion sq. ft. of commercial and residential buildings.

Shanghai Tower – 632 m Shanghai, China

Doha Convention Center Tower – 426 m Doha, Qatar

World Finance Tower – 212 m Shanghai, China

One World Trade Center – 541 m New York City, USA

Highcliff Tower – 252 m Dunedin, New Zealand

Burj Khalifa – 828 m Dubai, United Arab Emirates