Reso 2008-1319 - Laserfiche WebLink

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Sunny Isles Beach, Florida 33160 305.947.0606 www.sibfl.net City Commission July 30, 2008 Norman S. Edelcup Mayor Lewis J. Thaler Vice Mayor Roslyn Brezin Commissioner Gerry Goodman Commissioner George "Bud" Scholl Commissioner A. John Szerlag City Manager Hans Ottinot City Attorney Jane A. Hines City Clerk Michael Dezer Gil Dezer Dezer Development LLC 1800 I Coli ins A ven ue, Apt. 2402 Sunny Isles Beach FL 33160 Re: Non-Binding Letter of Intent for Proposed Joint Development A2reement for Construction of a Conference Center. Medical Offices and Car Museum Dear Gentlemen: The City of Sunny Isles Beach ("City") and Dezer Development LLC and or its assigns ("Dezer Development") wish to form a public/private partnership to develop a mixed-use development ("Project") on City owned property, which is located at 18080 Collins A venue, as more specifically described in Exhibit "A" ("Property''). This non-binding Letter of Intent serves to establish a preliminary basis for negotiating a Joint Development Agreement that will contain additional terms sllch as conditions and provisions not yet negotiated or agreed upon by the parties for the development of the Project. I. Purpose. This Letter of intent reflects the commitment by the City and Dezer Development to work together to develop public facilitieslamenities to further the development of the City as a destination location in the State of Florida. The goal of this public/private partnership is to create public facilities to serve a growing residential and tourist population. 2. Proiect. The Project is a mixed use development wh ich primari Iy consists of a con ference center, medical offices/facilities and a car museum. The conference center shall accommodate approximately 500 people for a sit-down meal. The medical offices/facilities shall occupy approximately 35,000 square feet or the development. The museum shall occupy approximately 39,000 square feet of the development. The Project shall also consist ofa restaurant with approximately 10,000 square feet. The Project will be constructed in accordance with the proposed layout titled "Trump Grande proposed Areas", attached hereto as Exhibit "B". 3. Joint Development A2reement. No later than November I, 2008, the City and Dezer Development shall enter into a Joint Development Agreement ("Agreement") to facilitate the construction of the Project. The Agreement shall specify the responsibilities of the parties with respect to the Project. More specifically, the City shall be responsible for providing the land for the Project. The City shall also be responsible for providing the land for off-site parking facilities, ir needed for the Project. Dezer Development shall be responsible for financing, designing and constructing the Project and building of any off- site parking facility. Dezer Development will contribute or finance significant funds (currently estimated between $22-35 million dollars) to construct the Project. Prior to the Exhibit "A"