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<br />RESOLUTION NO. 2008- J.h.1.3 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, APPROVING AN OPTION AGREEMENT IN <br />SUBSTANTIALLY THE SAME FORM WITH PHYLLIS GOLDMAN, <br />TRUST, FOR PURCHASE AND SALE OF REAL PROPERTY, OF <br />APPROXIMA TEL Y 0.46 ACRES LOCATED AT 287 SUNNY ISLES <br />BOULEVARD, IN THE AMOUNT OF $3,000,000 WITH AN OPTION <br />DEPOSIT OF $50,000 FOR A 60 -DAY OPTION, WHICH DEPOSIT SHALL <br />BE APPLIED TO THE PURCHASE PRICE IF THE CITY PROCEEDS TO <br />PURCHASE, ATTACHED HERETO AS EXHIBIT "A"; AUTHORIZING <br />THE MAYOR TO EXECUTE SAID AGREEMENT; PROVIDING THE CITY <br />MANAGER AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO <br />ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City of Sunny Isles Beach (the "City") is in the process of redeveloping the <br />Sunny Isles Boulevard corridor of the City; and <br /> <br />WHEREAS, the City has allocated funding for roadway improvements in the Sunny Isles <br />Boulevard corridor; and <br /> <br />WHEREAS, the property located at 287 Sunny Isles Boulevard presents a unique <br />opportunity for the City Commission to purchase property for redevelopment of the City's Sunny <br />Isles Boulevard corridor; and <br /> <br />WHEREAS, the Phyllis Goldman Trust, the owner of the property located at 287 Sunny Isles <br />Boulevard, is willing to accept an Option Agreement for the purchase of said property, in the amount <br />of$3,000,000 (three million dollars) with an option deposit of$50,000 (fifty thousand dollars) for a <br />60-day option, attached hereto as Exhibit "A". <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. Incorporation of Recitals. The recitals set forth hereinabove are hereby incorporated <br />herein by reference. <br /> <br />Section 2. Approval of Option Contract. The Option Agreement in substantially the same form <br />for purchase and sale of real property, of approximately 0.46 acres located at 287 Sunny Isles <br />Boulevard, in the amount of $3,000,000 (three million dollars) with an option deposit of $50,000 <br />(fifty thousand dollars) for a 60-day option, which deposit shall be applied to the purchase price if <br />the city proceeds to purchase, attached hereto as Exhibit "A", be, and the same, is hereby approved. <br /> <br />Section 3. <br /> <br />Authorization of Mayor. The Mayor is hereby authorized to execute said Option <br /> <br />R2008 - 287 Sunny Isles Blvd - Option To Purchase <br /> <br />Page I of2 <br /> <br />'--./7 <br />