HomeMy WebLinkAboutSubmittal-City Manager-Letter from Shutts and BowenSHUTTS
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December 21, 2009 ITEMspaas
VIA ILAND-DELIVERY
Mayor Tomas P. Regalado
City of Miami
300 Pan American Drive
Miami, Florida 33133
Re: Flagstone Island Gardens, LLC ("Flagstone") — $60,000,000 Mega Yacht
Marina Project on Watson Island
Dear Mayor Regalado:
At your request and the request of Commission Chairman Sarnoff and Commissioners
Carollo and Suarez, our client, Flagstone, has instructed us to turn over to the City of Miami as
soon as possible $498,000 we currently hold in escrow pursuant to that certain Agreement to
Enter into Ground Lease (as amended, the "Agreement") in payment of all use fees and bringing
Flagstone completely current under the Agreement through January 31, 2010. With this gesture,
Flagstone hopes to show the City a spirit of good faith and cooperation and not litigation, and
asks the Mayor and Commission to please appreciate that this global economic crisis that has
crippled homeowners, small businesses and major developers alike is a time for support and
cooperation in the development of this beautiful, waterfront project for the City of Miami.
Respectfully, we request that between now and the February 11, 2010 City Commission
meeting, Flagstone have the opportunity to meet with the City to negotiate the terms of a Fourth
Amendment to the Agreement. The terms can be incorporated into a written document (Fourth
Amendment) and presented to you and the City Commission for consideration in February.
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1500 Miami Center • 201 South Biscayne Boulevard, Miami, Florida 33131 • ph 305.358.6300 • fz 305.381.9982 • www.shutts.com
MIAMI FORT LAUDERDALE WEST PALM BEACH ORLANDO TAMPA TALLAHASSEE AMSTERDAM
Mavor Tomas P. Reaalado
December 21. 2009
Page 2
We look forward to continuing to work with the City. Thank you.
Sincerely,
SHUTTS & BOWEN LLP
KEVIN D. COWAN, ESQ.
ALEXANDER I. TACHMES, ESQ.
cc: Commission Chairman Marc Samoff
Commissioner Frank Carollo
Commissioner Francis Suarez
City Manager Pete Hernandez
City Attorney Julie Bru
Assistant City Attorney Robin Jackson
Assistant City Attorney Olga Ramirez-Sijas
Chief Financial Officer Larry Spring
Judith Burke, Esq.
Aldo Bustamante, Real Estate Manager
MIADOCS 3975202 1
Submitted Into the
recor connection v
item 2_ on (2-22
Priscilla A. Thom
City Clerk
1500 Miami Center • 201 South Biscayne Boulevard, Miami, Florida 33131 • Ph 305.358.6300 • fx 305.381.9982 • www shuttsxom
MIAMI FORT LAUDERDALE WEST PALM BEACH ORLANDO TAMPA TALLA H A S S FF AMCTRuneu