HomeMy WebLinkAboutSummary FormDate: 11/17/2006
AGENDA ITEM SUMMARY FORM
FILE ID: 0 6' 0 ad 7 7
Requesting Department: 2
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Commission Meeting Date: 12/14/2006 District Impacted: District 2
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
E Other
Subject: AMENDED AGREEMENT WITH FLAGLER FIRST CONDOMINIUMS, LLC
Purpose of Item:
RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE AMENDMENT NO.
TWO, IN SUBSTANTIALLY THE ATTACHED FORM, TO THE AGREEMENT WITH
FLAGLER FIRST CONDOMINIUMS, LLC ("DEVELOPER"), RELATING TO THE
REDEVELOPMENT OF AN AFFORDABLE HOUSING CONDOMINIUM PROJECT KNOWN
AS FLAGLER FIRST CONDOMINIUM, LOCATED AT 101 EAST FLAGLER STREET, MIAMI,
FLORIDA ("PROJECT"), PROVIDING AN EXTENSION UNTIL JUNE 30, 2007.
Background Information:
The Developer experienced delays beyond its reasonable control in conducting extensive structural
testing (including complete asbestos abatement), vacating tenants and in bringing the building's
premises to current hurricane/wind load and fire code requirements, hurricane preparations in 2005,
delays in obtaining a scaffolding permit, and delays resulting from use of a staging area by the Flagler
Street construction project. Hence, the Developer is requesting an additional extension of the
deadline until June 30, 2007 in order to comply with the City's requirements, complete construction
of the building, and obtain its Certificate of Occupancy. As stipulated in the attached amended
Agreement, the Developer will be charged a penalty if the project is not completed by said date.
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP Budget
If using or receiving capital funds
Grants
Risk Management
Purchasin Dept. Director,,,
Chief � ti� ob City Manager
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