Reso 2008-1218 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33 160 (305) 947-0606 City Hall (305) 949-3 II 3 Fax (305) 947-2150 Building Department (305) 947-5107 Fax City Commission Norman S. Edelcup, Mayor Lewis J. Thaler, Vice Mayor Gerry Goodman, Commissioner Roslyn Brezin, Commissioner George "Bud" Scholl, Commissioner A. John Szerlag, City Manager Hans Ottinot, City Attorney Jane A. Hines, CMc, City Clerk MEMORANDUM TO: The Honorable City Commission A. John Szerlag, City Manager FROM: Hans Ottinot, City Attorney DATE: February 8, 2008 RE: City of Sunny Isles Beach v. 18100 Collins Avenue Shopping Center, Ltd. As you know, the City has been involved in three (3) years of protracted litigation to finalize the condemnation of the property located at 18080 Collins Avenue. A trial for the case is scheduled for Monday, February 11, 2008. Prior to the scheduled trial, an amicable settlement has been reached between the City and the property owner of the aforementioned property. As required, I am presenting the settlement for approval by the City Commission. This settlement was reached after several mediations and numerous settlement meetings between city officials and the property owner and his attorneys. As indicated in the attached report from the City's eminent domain counsel, the City has agreed to settle the case for $7.0 million dollars inclusive of all fees and costs. In addition to the monetary compensation, the City has agreed to provide the following non-monetary benefits to the property (1) release and waiver of existing code enforcement fines (approximate amount is $336,400) levied against RK Associates and related entities; (2) naming the internal street, which separates the RK Associates Shopping Centers located between 170 and 171 Streets, "Ranaan Katz Boulevard"; and (4) allowing RK Associates with the ability to use two (2) colors for reverse channel signs located at its shopping centers. Clearly, the above settlement will end almost three years of protracted and expensive litigation involving the City and RK Associates. I certainly believe that this settlement brings an end to the growing expenses associated with condemning the aforementioned property. In his report, the City's eminent domain counsel recommends approval of the settlement. I concur with his recommendation. It is important to note that he City has deposited $2,250,000.00 into the Court registry at the time the Court had awarded legal title of property to the City. As such, the City is now only required to deposit $4,750,000.00 into the court Registry for full settlement of the case. EXHIBIT "A"