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<br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue, Suite 250 <br />Sunny Isles Beach, Florida 33160 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler, Vice Mayor <br />Gerry Goodman, Commissioner <br />Roslyn Brezin, Commissioner <br />Danny Iglesias, Commissioner <br /> <br />A. John Szerlag, City Manager <br />Hans Ottinot, City Allorney <br />Jane A. Hines, CMC, City Clerk <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />The Honorable Mayor and City Commission <br /> <br />Hans Ottinot, City Attorney ~ <br />November 15, 2007 <br /> <br />FROM: <br /> <br />DA TE: <br /> <br />RE: <br /> <br />Approval of Option Agreement for Purchase of Property from Avila Condominium <br />Assn. Inc. <br /> <br />RECOMMENDA TION <br /> <br />It is recommended that the City Commission adopt the attached Resolution, approving an Option <br />Agreement for the purchase of property from A vila Condominium Association, Inc. (the "Seller"). <br /> <br />REASONS <br /> <br />The Seller has agreed to enter into an Option Agreement with the City for the purchase of property <br />located at the N.E. corner of 175th Terrace, in the amount of $1,650,000.00 with a $25,000.00 deposit <br />for a 90-day option period. This transaction is contingent on the Seller obtaining at least 75% approval <br />from its unit owners. It is important to note that the property will be a great asset to the City because it <br />can be used as off-site parking for Samson Oceanfront Park. <br /> <br />Agenda Item <br /> <br />Date <br />