Reso 2015-2446 - Laserfiche WebLink

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RESOLUTION NO. 2015-2'N( A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, RATIFYING THE CANCELLATION OF AN AGREEMENT OF PURCHASE AND SALE BETWEEN THE CITY OF SUNNY ISLES BEACH ("SELLER') AND CHABAD LUBAVITCH RUSSIAN CENTER OF SOUTH FLORIDA ("BUYER") FOR PROPERTY LOCATED AT 500 SUNNY ISLES BOULEVARD ("BUENA VISTA PARK"); PROVIDING THE CITY MANAGER AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, on or about August 29th, 2014, the City had entered into a Purchase Agreement with Chabad Lubavitch Russian Center of South Florida to sell Buena Vista Park ("Property"); and WHEREAS, after providing the Buyer with more than 180 days to effectuate the Closing, the Buyer was not able to close on the Property and the Purchase Agreement was terminated; and WHEREAS, the Buyer has submitted a Release and Cancellation of Contract for Sale and Purchase attached hereto as Exhibit "A"; and WHEREAS, the City Commission wishes to ratify the Cancellation of the Contract for Purchase and Sale. • NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Ratification of the Cancellation of the Agreement of Purchase and Sale. The Cancellation of the Agreement of Purchase and Sale between the City of Sunny Isles Beach and Chabad Lubavitch Russian Center of South Florida, attached hereto as Exhibit "A" is hereby ratified. Section 2. Authorization of City Manager and City Attorney. The City Manager and City Attorney are authorized to do all things necessary to effectuate the terms of this Resolution. Section 3. Effective Date. This Resolution shall become effective upon adoption. PASSED AND ADOPTED this 16th day of July 2015. Georg: . Scholl, Mayor Ratifying the Cancellation of Purchase and Sale Agreement Page 1 of 2