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<br />RESOLUTION NO. 2007- \l12 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, APPROVING AN OPTION AGREEMENT IN <br />SUBST ANTIALL Y THE SAME FORM WITH AVILA CONDOMINIUM <br />ASSOCIATION, INC., ATTACHED HERETO AS EXHIBIT "A", FOR THE <br />PURCHASE AND SALE OF REAL PROPERTY, OF APPROXIMA TEL Y <br />20,550 SQUARE FEET LOCATED ALONG THE SOUTH SIDE OF NE 175TH <br />TERRACE, APPROXIMATELY 200 FEET WEST OF COLLINS AVENUE, <br />FOR ONE MILLION SIX HUNDRED FIFTY THOUSAND DOLLARS <br />($1,650,000.00) WITH AN OPTION DEPOSIT OF TWENTY FIVE <br />THOUSAND DOLLARS ($25,000.00) FOR A 90-DAY OPTION, WHICH <br />DEPOSIT SHALL BE APPLIED TO THE PURCHASE PRICE IF THE CITY <br />PROCEEDS TO PURCHASE THE PROPERTY; AUTHORIZING THE <br />MAYOR TO EXECUTE THE OPTION AGREEMENT; PROVIDING THE <br />CITY MANAGER AND THE CITY ATTORNEY WITH THE AUTHORITY <br />TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS <br />RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, on March 13,2006, the City Commission held a Workshop to discuss the <br />development of a strategic plan for the acquisition of property for open space/park purposes; and <br /> <br />WHEREAS, at the Open Space Workshop, the City Commission decided to create a plan <br />that would provide the framework for acquiring additional property for open space; and <br /> <br />WHEREAS, at the Open Space Workshop, the City Commission also decided to continue to <br />pursue open space opportunities that are available, during the interim period; and <br /> <br />WHEREAS, the property located at the NE corner of 175th Terrace, presents a unique <br />opportunity for the City Commission to purchase additional property to create a municipal parking <br />garage for Samson Oceanfront Park; and <br /> <br />WHEREAS, Avila Condominium Association Inc., is the owner of said property proposing <br />to enter into an Option Agreement in the amount of One Million Six Hundred Fifty Thousand <br />Dollars ($1,650,000.00) with an option deposit of Twenty Five thousand Dollars ($25,000.00) for a <br />90-day option, attached hereto as Exhibit "A"; and <br /> <br />WHEREAS, the proposed purchase and sale of said property is contingent on at least 75% of <br />the unit owners of Avila Condominium Association, Inc., authorizing the Board of Directors to <br />approve same. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. <br /> <br />Incorporation of Recitals. The recitals set forth hereinabove are hereby incorporated <br /> <br />Resolution Approving Avila Option Agreement <br /> <br />Page lof2 <br />