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<br />RESOLUTION NO. 2011-l3..:1k <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, APPROVING AN UPDATED <br />LETTER OF INTENT BETWEEN THE CITY OF SUNNY ISLES <br />BEACH AND THE WEINTRAUB COMPANIES FOR THE <br />PURCHASE OF 18080 COLLINS AVENUE ("ALAMO <br />PROPERTY"), IN THE AMOUNT OF SEVEN MILLION FIVE <br />HUNDRED THOUSAND DOLLARS ($7,500,000.00); <br />AUTHORIZING THE CITY MANAGER AND CITY ATTORNEY <br />TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS <br />RESOLUTION; 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 residential population and <br />top tourist destination; and <br /> <br />WHEREAS, in February 2008, the City acquired the Alamo site located at 18080 Collins <br />Avenue (the "Alamo site") for anticipated future growth of municipal programs; and <br /> <br />\ <br />WHEREAS, on July 21, 2011 via Resolution No. 2011-1750, the City Commission <br />approved a Letter of Intent with The Weintraub Companies to purchase the Alamo property in the <br />amount of Seven Million Five Hundred Thousand Dollars ($7,500,000.00), to create a first class <br />executive and professional office building; and <br /> <br />WHEREAS, due to a change in the terms of the Agreement, an updated Letter of Intent <br />has been provided by The Weintraub Companies, attached hereto as Exhibit "A". <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. Approval of Updated Letter of Intent. The City Commission hereby approves the <br />updated Letter of Intent with The Weintraub Companies to purchase the property located at <br />18080 Collins Avenue ("Alamo Property") in an amount of $7,500,000.00, attached hereto as <br />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 September 2011. <br /> <br /> <br />~ <br /> <br />R20 11- Weintraub Co Updated Ltr Of Intent Purchase Alamo Prop Execute Letter of Intent <br /> <br />Page I of2 <br />