HomeMy WebLinkAboutMaster ReportFile Number: 10-00181a
Version: 2
City of Miami
Master Report
Enactment Number: R-10-0144
File Type: Resolution
Reference:
File Name : Enter Agmt-Flagstone Gardens
Requester: Cost:
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: Passed
Controlling Body: Office of the City
Clerk
Introduced: 3/12/2010
Final Action: 3/25/2010
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING
CERTAIN TERMS RELATED TO THE AGREEMENT TO ENTER INTO GROUND LEASE
("AGREEMENT TO ENTER") AND GROUND LEASE, BOTH BETWEEN THE CITY OF MIAMI
("CITY") AND FLAGSTONE ISLAND GARDENS, LLC ("FLAGSTONE"), AND DIRECTING THE
CITY MANAGER AND THE CITY ATTORNEY TO PREPARE THE AMENDED AND RESTATED
AGREEMENT TO ENTER INTO GROUND LEASE ("AMENDED AND RESTATED AGREEMENT
TO ENTER") AND THE AMENDED AND RESTATED GROUND LEASE(S) TO PROVIDE FOR: (1)
FLAGSTONE'S OPTION TO DEVELOP THE MEGA -YACHT MARINA WITH ITS ANCILLARY
FACILITIES, RETAIL, PARKING, HOTELS AND ALL OTHER RELATED FACILITIES (THE
"PROJECT") IN ITS ENTIRETY ALL AT ONCE OR THROUGH PHASED DEVELOPMENT ON A
COMPONENT BY COMPONENT BASIS; (2) EXTENDING THE POSSESSION DATE FROM
FEBRUARY 1, 2010 TO FEBRUARY 1, 2013, OR SOONER, AT FLAGSTONE'S OPTION; (3)
EXTENDING THE CONSTRUCTION COMMENCEMENT PERIOD FROM THIRTY-SIX (36)
MONTHS TO A MAXIMUM OF TWO HUNDRED SIXTEEN (216) MONTHS (EIGHTEEN (18)
YEARS); (4) ESTABLISHING AN ANNUAL PAYMENT SCHEDULE COMMENCING WITH
THREE HUNDRED THOUSAND DOLLARS ($300,000) AND INCREASING TO TWO MILLION
DOLLARS ($2,000,000) NO LATER THAN THE YEAR 2018, SUBJECT TO CERTAIN CREDITS;
(5) EXTENDING CERTAIN MILESTONE DATES IN THE TIMELINES FOR CONSTRUCTION
COMMENCEMENT, COMPLETION, AND OTHER DEVELOPMENT MATTERS; AND (6)
PROVIDING FOR SECURITY DEPOSIT(S) ON A COMPONENT BY COMPONENT BASIS;
FURTHER AUTHORIZING THE CITY MANAGER TO EXTEND TO APRIL 22, 2010, THE
CURRENT AGREEMENT TO ENTER, IN ORDER TO FINALIZE THE AMENDED AND
RESTATED AGREEMENT TO ENTER AND THE AMENDED AND RESTATED GROUND
LEASE(S) FOR FINAL CONSIDERATION AT THE APRIL 22, 2010 CITY COMMISSION
MEETING.
Sponsors:
Notes:
Indexes:
Attachments: 10-00181a Agenda item will be distributed prior to CC.pdf,10-00181a-Submittal-Law
Department.pdf, 10-00 18 1 a Exhibit A.pdf,
History of Legislative File
Version: Acting Body: Date: Action: Sent To: Due Date: Return Date: Result:
1 City Commission 3/25/2010 ADOPTED WITH Pass
MODIFICATIONS
City of Miami Page I Printed on 7/24/2017
$Y of City Hall
F4G ` City of Miami 3500 Pan American Drive
Miami, FL 33133
41 IFwln www.miamigov.com
< � R 1 O
Master Report
Enactment Number: R-10-0144
2 Office of the Mayor 3/31/2010 Signed by the Mayor Office of the City
Clerk
2 Office of the City Clerk 3/31/2010 Signed and Attested
by City Clerk
2 Office of the City 2/23/2015 Reviewed and
Attorney Approved
Action Note: MODIFICATIONS MADE TO RESOLUTION AND EXHIBIT A ADDED
City ofMiami Page 2 Printed on 712412017