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<br />RESOLUTION NO. 2010--159 3 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, APPROVING A LETTER OF <br />INTENT BETWEEN THE CITY OF SUNNY ISLES BEACH AND <br />H & M GABLES INVESTORS, LLC TO LEASE PROPERTY TO <br />CONSTRUCT, DEVELOP AND OPERATE AN AQUARIUM AND <br />RELATED F ACITILIES IN THE CITY OF SUNNY ISLES BEACH <br />IN SUBSTANTIALLY THE SAME FORM; AUTHORIZING THE <br />CITY MANAGER AND CITY ATTORNEY TO DO ALL THINGS <br />NECESSARY TO EFFECTUATE THIS RESOLUTION; <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City Commission is desirous of continuing to develop public <br />facilities/amenities to further the development of the City as a growing destination community <br />with recreational amenities; and <br /> <br />WHEREAS, there is a unique opportunity to develop a world class park with an Aquatic <br />Center ("Project") as a component; and <br /> <br />WHEREAS, City staff has commenced negotiations with H & M Gables Investors, LLC <br />to form a public/private partnership to lease land, construct, develop and operate an aquarium and <br />related facilities including but not limited to, a restaurant, food, gift concessions, meeting rooms <br />and party facilities; and <br /> <br />WHEREAS, the City Commission wishes to approve the Letter of Intent and the First <br />Amendment to said letter to facilitate the execution of a lease and development agreement <br />between the parties. <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. Approving the Letter of Intent and the First Amendment. The City Commission <br />hereby approves the Letter of Intent and First Amendment with H & M Gables Investors, LLC in <br />substantially the same form to lease land to construct, develop and operate an aquarium in the <br />City of Sunny Isles Beach attached hereto as Exhibit "A". <br /> <br />Section 2. Authorization of City Manager and City Attorney. The City Manager and City <br />Attorney are hereby authorized to do all things necessary to effectuate this Resolution. <br /> <br />Section 3. <br /> <br />Effective Date. This Resolution shall become effective upon adoption. <br /> <br />PASSED AND ADOPTED this 15th day of July 2010. <br /> <br />Authorizing The CC To Execute Letter Of Intent With H& M Investors <br />with H & M Gables Investors, LLC <br /> <br />Page I of2 <br />