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<br />Preview <br /> <br />Page 1 of 1 <br /> <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />The Honorable Mayor and City Commission <br /> <br />FROM: <br /> <br />Hans Ottinot, City Attorney <br /> <br />DATE: <br /> <br />10/15/2009 <br /> <br />RE: <br /> <br />Amended Lease Between City of Sunny ISles Beach and Turnberry <br />International Realty <br /> <br />RECOMMENDATION: <br /> <br />It is recommended that the attached Resolution be approved. <br /> <br />REASONS: <br /> <br />At the time of purchase of the property located at 16100 Collins Avenue, the City <br />inherited several leases. The lease agreement forTurnberry International Realty <br />("Turnberry") is one of the leases inherited by the City. To facilitate the construction of <br />the park on the aforementioned property, the City has agreed to reduce the lease <br />payments of Turnberry for a shorter term lease. Specifically, Turnberry's lease will <br />expire on April 20, 2010 instead of August 31, 2011. Please note that Turnberry was <br />paying $70.00 per square feet under the original lease and the modified lease provides <br />payment of $26.00 per square feet. <br /> <br />ATTACHMENTS: <br />. Amended Lease <br />. Resolution <br /> <br />http://sibagenda.sibfl.net/agenda/Preview.aspx?ItemID=1 07 &MeetingID=O&MeetingDate... 10/6/2009 <br />