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<br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler" Vice Mayor <br />Roslyn Brezin Commissioner <br />Gerry Goodman Commissioner <br />Danny Iglesias, Commissioner <br /> <br />(305) 947-0606 City Hall <br />(305) 792-1 565 Fax <br />(305) 947-2150 Building Department <br /> <br />A. John Szerlag, City Manager <br />Hans Ottinot, City Attorney <br />Jane A. Hines, City Clerk <br /> <br />REVISED <br /> <br />MEMORANDUM <br /> <br />To: The Honorable Mayor and City Commission <br /> <br />From: A. John Szerlag, City Manager <br />Jorge L. Vera, Assistant City Manager/ Service Division <br /> <br />Date: October 18, 2007 <br /> <br />Re: Extension ofTDR payments <br /> <br />RECOMMENDATION <br /> <br />This resolution is presented for your consideration. <br /> <br />REASONS <br />Under resolution No. 2007-1158 the City Commission agreed to extend the time of <br />complete payment for the TDRs by Mansiana Ocean Residences LLC ('Applicant') <br />sixty days from the issuance of the building permit (Aug 22, 2007). The Applicant is <br />now requesting to extend final payment until December 31, 2007. The balance of the <br />promissory note is due on December 31, 2007, said balance on the promissory note <br />shall accrue at an interest rate of 6.375% starting from August 22,2007. <br /> <br />~'E.y'\S~ <br />Agenda Item l 0 ~ <br /> <br />Date IO-l~-07 <br />