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COMMISSION MEMORANDUM |
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| | | | | | | | | TO: | Honorable Mayor and Members of the City Commission | | | FROM: | Commissioner Ricky Arriola | | | DATE: | September 16, 2020 | | | |
| | SUBJECT: | DISCUSS TEMPORARY SUSPENSION OF PERSONAL GUARANTEES. |
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| | | | | | | | ANALYSIS
| Miami-Dade County and the City of Miami Beach have negatively impacted some businesses by virtue of the lockdown. This caused many commercial tenants, particularly in the retail, restaurant, and personal service sectors, to struggle to pay rent. Despite these challenging circumstances, some landlords are pursuing personal guarantees against tenants facing hardship. I propose that the City of Miami Beach consider how it can halt the enforcement of personal guarantees for a period of time in order to help our businesses.
In May 2020, New York City adopted a Personal Liability Bill that temporarily prohibited the enforcement of personal liability provisions within commercial leases. The measure applied to COVID-19 impacted tenants that were negatively affected by the mandated closures and service limitations under the New York Governor's Executive Orders. |
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| | | | | | | | | Is this a "Residents Right to Know" item, pursuant to City Code Section 2-14? | | Does this item utilize G.O. Bond Funds? | | | Yes | | No | |
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| | | | | | | | Legislative Tracking
Commissioner Ricky Arriola |
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