2010-1118 Regular City Commission Meeting

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Summary Minutes: Regular City Commission Meeting November 18,2010 City of Sunny Isles Beach, Florida 10E. A Resolution of the City Commission of the City of Sunny Isles Beach, Florida, Selecting 4M Investors, LLC. as the Proposer to Design and Build an Upscale Lifestyle Center Consisting of a Park, Parking Garage, Aquarium and High End Retail Shops; Providing the City Manager and the City Attorney with the Authority to Negotiate a Design!Build Contract with 4M Investors, LLC. for Approval by the City Commission; Providing for an Effective Date. (RFP 10-10-01) Action: [City Clerk's Note: A Protest Letter was receivedfrom Kelly Conner.] City Clerk Hines read the title, and City Manager Conner reported noting that this park would be located from the Public Storage Building all the way to Collins A venue, the current strip center would be removed and a beautiful facility will be placed there. RFP No. 10-10-01 was issued for this project, and a Pre-Submittal Conference was held with about 35 interested parties in attendance. At the bid opening on November 8, 2010, there was only one response and it was from 4M Investors, LLC. The proposal was reviewed and it meets the requirements and qualifications of the RFP, and so tonight we asked the proposer to make a presentation to the Commission, and at the end of that presentation to approve a Resolution authorizing staff to begin the negotiation process with the developer, and come back to the Commission with a potential contract for approval. Public Speakers: Cliff Schulman, Esq.; Eduardo Castifieira, Architect; Joe Milton; Arie Steiger; Kelsey Dunning; Bob Welsh; Samantha Whitcraft of Oceanic Defense; Danny Iglesias Clifford Schulman, Esq., with the Law Firm of Weiss, Serota, Helfman, et al. representing 4M Investors, LLC, said that 4M Investors is a wholly subsidiary of Joe Milton and Associates. This RFP gave them a very unique and different opportunity to join with the City in a private/public partnership. The City's vision led them to acquire 3.5 acres ofland in the most important thoroughfare of Sunny Isles Beach which is Sunny Isles Boulevard and they now have the opportunity to work with the City to create something new, unique, innovative and beautiful. Create for example in their proposal, over 2 acres of public park and open space, over 300 new and direly needed parking spaces, a new IMAX Theater dedicated to the environment, meeting spaces that can seat over 700 people, a cultural center where we will be able to provide cultural gatherings, we can partner with educational opportunities, with the Sunny'lsles Beach Community School. We get One Million tourists a year in Sunny Isles Beach and when they want to have entertainment during the day, they go across the bridge to find it, they don't leave their dollars in Sunny Isles Beach, and this will be the first opportunity for a real attraction to capture those tourists and tourist dollars in Sunny Isles Beach. You are going to be taking a piece of property and returning it to the tax rolls with over $50 Million of private investor money, this proposal calls for 4M to invest $50 Million of their own money to build this. 80% of the total project cost is private investor funds, and they had submitted a Letter of Credit saying that they will be capable of bonding 110% of the total project cost which will be about $70 Million. There will be 184 construction jobs, and 1,000 full time jobs will be created by this Project. He said the City's Planning Consultant Jack Luft stated that this proposer met each and every criteria of the City's Comprehensive Plan and in his Park Analysis and Plan given to the Commission a couple of years ago. Tonight you are only authorizing negotiations to bring this back to you for the final contract, and the site plan comes back to the Commission in public hearing. 5