HomeMy WebLinkAboutMaster ReportTitle: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING
EXHIBIT A HERETO ("EXHIBIT A"), THE AMENDED AND RESTATED AGREEMENT TO
ENTER INTO GROUND LEASE ("AMENDED AND RESTATED AGREEMENT TO ENTER"), AND
THE AMENDED AND RESTATED GROUND LEASE(S) ("AMENDED AND RESTATED GROUND
LEASE(S)") (EACH IN SUBSTANTIALLY THE ATTACHED FORM(S)), BETWEEN THE CITY OF
MIAMI ("CITY") AND FLAGSTONE ISLAND GARDENS, LLC ("FLAGSTONE"), AND
AUTHORIZING AND DIRECTING THE CITY MANAGER AND THE CITY ATTORNEY TO
EXECUTE THE AMENDED AND RESTATED AGREEMENT TO ENTER, AND THE AMENDED
AND RESTATED GROUND LEASE PROVIDING FOR, INTERALIA: (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
SEPTEMBER 1, 2013, OR SOONER, AT FLAGSTONE'S OPTION; (3) ESTABLISHING AN
ANNUAL PAYMENT SCHEDULE FOR ALL COMPONENTS 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 AND OTHER
CONDITIONS RELATED TO DEVELOPMENT ON A COMPONENT BY COMPONENT BASIS; (4)
EXTENDING CERTAIN MILESTONE DATES IN THE TIMELINES FOR CONSTRUCTION
COMMENCEMENT, COMPLETION, AND OTHER DEVELOPMENT MATTERS AS SET FORTH
IN EXHIBIT A; AND (5) PROVIDING FOR SECURITY DEPOSIT(S), PROVIDED, HOWEVER
THAT SUCH APPROVAL, AUTHORIZATION AND DIRECTION ARE ALL SUBJECT TO AND
CONDITIONED UPON A SATISFACTORY DETERMINATION OF SECTION VIII, ENTITLED
"STATE WAIVER" OF EXHIBIT A REGARDING PAYMENTS TO THE STATE OF FLORIDA
("STATE"); FURTHER DIRECTING THE CITY MANAGER TO RETURN TO THE CITY
COMMISSION FOR APPROVAL REGARDING THE STATE WAIVER; FURTHER AUTHORIZING
AND DIRECTING THE CITY MANAGER AND THE CITY ATTORNEY TO MAKE
NON -SUBSTANTIVE REVISIONS AS NECESSARY TO EXHIBIT A, THE AMENDED AND
RESTATED AGREEMENT TO ENTER, THE AMENDED AND RESTATED GROUND LEASE(S)
ALL DOCUMENTS RELATING TO THE STATE WAIVER.
Sponsors:
Notes: Please include all attachments when certifying this resolution.
Indexes:
Attachments: 10-01116a Flagstone Resolution.pdf,10-01116a Flagstone Exhibit A.pdf,10-01116a Flagstone Liens and
State Waiver Modification.pdf, 10-0 11 16a Flagstone Agreement to Enter.pdf, 10-0 11 16a Flagstone
Ground Lease Part 1.pdf,10-01116a Flagstone Ground Lease Part 2.pdf,10-01116a Attachment 4 of the
Flagstone Ground Lease.pdf,
City of Miami Page I Printed on 8/9/2017
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City of Miami
City Hall
3500 Pan American Drive
F
Miami, FL 33133
Fwln
< � R 1 O
Master Report
vuww.miamigov.com
Enactment Number: R-10-0402
File Number:
10-01116a
File Type: Resolution
Status:
Passed
Version:
2
Reference:
Controlling Body:
Office of the City
Clerk
File Name:
Flagstone
Introduced:
9/16/2010
Requester:
Honorable Mayor Tomas
Cost:
Final Action:
9/23/2010
Regalado
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING
EXHIBIT A HERETO ("EXHIBIT A"), THE AMENDED AND RESTATED AGREEMENT TO
ENTER INTO GROUND LEASE ("AMENDED AND RESTATED AGREEMENT TO ENTER"), AND
THE AMENDED AND RESTATED GROUND LEASE(S) ("AMENDED AND RESTATED GROUND
LEASE(S)") (EACH IN SUBSTANTIALLY THE ATTACHED FORM(S)), BETWEEN THE CITY OF
MIAMI ("CITY") AND FLAGSTONE ISLAND GARDENS, LLC ("FLAGSTONE"), AND
AUTHORIZING AND DIRECTING THE CITY MANAGER AND THE CITY ATTORNEY TO
EXECUTE THE AMENDED AND RESTATED AGREEMENT TO ENTER, AND THE AMENDED
AND RESTATED GROUND LEASE PROVIDING FOR, INTERALIA: (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
SEPTEMBER 1, 2013, OR SOONER, AT FLAGSTONE'S OPTION; (3) ESTABLISHING AN
ANNUAL PAYMENT SCHEDULE FOR ALL COMPONENTS 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 AND OTHER
CONDITIONS RELATED TO DEVELOPMENT ON A COMPONENT BY COMPONENT BASIS; (4)
EXTENDING CERTAIN MILESTONE DATES IN THE TIMELINES FOR CONSTRUCTION
COMMENCEMENT, COMPLETION, AND OTHER DEVELOPMENT MATTERS AS SET FORTH
IN EXHIBIT A; AND (5) PROVIDING FOR SECURITY DEPOSIT(S), PROVIDED, HOWEVER
THAT SUCH APPROVAL, AUTHORIZATION AND DIRECTION ARE ALL SUBJECT TO AND
CONDITIONED UPON A SATISFACTORY DETERMINATION OF SECTION VIII, ENTITLED
"STATE WAIVER" OF EXHIBIT A REGARDING PAYMENTS TO THE STATE OF FLORIDA
("STATE"); FURTHER DIRECTING THE CITY MANAGER TO RETURN TO THE CITY
COMMISSION FOR APPROVAL REGARDING THE STATE WAIVER; FURTHER AUTHORIZING
AND DIRECTING THE CITY MANAGER AND THE CITY ATTORNEY TO MAKE
NON -SUBSTANTIVE REVISIONS AS NECESSARY TO EXHIBIT A, THE AMENDED AND
RESTATED AGREEMENT TO ENTER, THE AMENDED AND RESTATED GROUND LEASE(S)
ALL DOCUMENTS RELATING TO THE STATE WAIVER.
Sponsors:
Notes: Please include all attachments when certifying this resolution.
Indexes:
Attachments: 10-01116a Flagstone Resolution.pdf,10-01116a Flagstone Exhibit A.pdf,10-01116a Flagstone Liens and
State Waiver Modification.pdf, 10-0 11 16a Flagstone Agreement to Enter.pdf, 10-0 11 16a Flagstone
Ground Lease Part 1.pdf,10-01116a Flagstone Ground Lease Part 2.pdf,10-01116a Attachment 4 of the
Flagstone Ground Lease.pdf,
City of Miami Page I Printed on 8/9/2017
City of Miami Page 2 Printed on 8/9/2017
'TY op.tt
City of Miami
City Hall
3500 Pan American Drive
F
Miami, FL 33133
F wln
Master Report
vuww.miamigov.com
Enactment Number: R-10-0402
History of Legislative File
Version: Acting Body:
Date:
Action: Sent To:
Due Date: Return Date: Result:
2 Office of the City
9/22/2010
Review Pending
Attorney
2 City Commission
9/23/2010
ADOPTED
Pass
2 Office of the City
9/23/2010
Reviewed and
Attorney
Approved
2 Office of the Mayor
9/23/2010
Signed by the Mayor Office of the City
Clerk
2 Office of the City Clerk
9/23/2010
Signed and Attested
by City Clerk
City of Miami Page 2 Printed on 8/9/2017