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<br />Preview <br /> <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />RE: <br /> <br />Page 1 of 4 <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 />The Honorable Mayor and City Commission <br /> <br />Alan J. Cohen, City Manager <br />Hans Ottinot, City Attorney <br /> <br />7/21/2011 <br /> <br />Approving a revised Ground Lease and Development Agreement, <br />and Design-Build Agreement Between the City of Sunny Isles Beach <br />and 4M Investors, LLC <br /> <br />RECOMMENDA TION: <br /> <br />Authorize the City to enter into a Ground Lease and Development Agreement, and <br />Design-Build Agreement with 4M Investors, LLC covering approximately 3.7 acres of <br />land owned by the City on the north side of Sunny Isles Boulevard (the "Property") for <br />development of a park, parking garage, and high-end restaurant (the "Project"). <br /> <br />REASONS: <br /> <br />BACKGROUND: <br /> <br />The City Commission contemplates the development of real property within the Town <br />Center District for a public parking garage, a public park and high-end <br />restaurant. By way of background, the City provided public notice of its intent to solicit <br />proposals to design and build the Project on the Property. In response to the City's bid <br />solicitation (RFP No. 10-10-1) issued on October 6, 2010, 4M Investors, LLC, (the <br />"Developer") submitted a response which was initially accepted by the City Commission <br />on November 18, 2010, via Resolution No. 2010-1632, to develop the Project. The i.nitial <br />design-build agreement was to include an aquatic center. However, the parties <br />subsequently elected to replace the aquatic themed center with an alternative proposal <br />which included high-end restaurant space. The Developer presented its revised, <br />schematic proposal to the City Commission on April 21, 2011. On June 15, 2011, the <br />City Commission approved the Agreements with directions to staff to workout final <br />details in order to present the Agreements for final approval within thirty (30) days. For <br />several weeks, staff has negotiated with the Developer and his attorney to finalize terms <br />of a Design-Build Agreement and a Ground Lease and Development Agreement. Staff <br />and Developer have finalized terms of the Agreements and resolved all outstanding <br /> <br />http://sibagenda.sibfl.net/agenda/Preview.aspx?I temID=5 51 &MeetingID=O&MeetingDate... 7/15/2011 <br />