Laserfiche WebLink
<br />DEVELOPMENT AGREEMEN' <br /> <br />l6 \L <br /> <br />--- <br /> <br />This DEVELOPMENT AGREEMENT (the "Agreement" f <br />, 2010 by and among the City of Sunny Isles Beach, -.Y"U <br />corporation (the "City"), whose address is 18070 Collins Avenue __./ l.:>lt:S Beach, Florida <br />33160, and 4M Investors, a Florida Limited Liability Company ("Developer"), whose address is <br />3211 Ponce De Leon Blvd., Suite 301, Coral Gables, FL 33134. <br /> <br />WHEREAS, the City contemplates the development of real property within the Town <br />Center District for a public parking garage, a public park, and an Aquatic Entertainment Center <br />("The Project") and certain governmental purposes; and <br /> <br />WHEREAS, the City did provide public notice of its intent to solicit proposals to design <br />and build an upscale lifestyle center consisting of an aquatic entertainment center, a park and a <br />parking garage on City owned real property; and <br /> <br />WHEREAS, in response to the Request for Proposals (RFP No. 10-10-1) issued by the <br />City on October 6,2010, the Developer submitted a Response to RFP No. 10-10-1 which was <br />accepted by the City Commission on November 18, 2010 with the adoption of Resolution 2010- <br />1632; and <br /> <br />WHEREAS, the parties desire to enter into this Agreement for development of a portion <br />of the area within the Town Center District; and <br /> <br />Now, THEREFORE, in consideration of the mutual promises, covenants and agreements <br />contained herein the parties agree as follows: <br /> <br />ARTICLE I <br />RECITALS, PURPOSE, PROJECT OVERVIEW AND DESCRIPTION, AND FINDINGS <br /> <br />1.1. Recitals. The foregoing recitations, contained in the "Whereas Clauses", are true and correct <br />and are hereby incorporated herein by reference. All exhibits to this Agreement are hereby <br />deemed a part thereof. <br /> <br />1.2 Purpose of Agreement. The purpose of this Agreement is to provide for the <br />development and redevelopment of land within that portion of the Town Center District, to <br />establish the relationship between the City and Developer for development of the Project. It is <br />the intent of the parties hereto that the construction of the Project, and public improvements <br />associated therewith is the initial stage of development. <br />