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sot'" ,s1Fr City Commission <br /> __ City of Sunny Isles Beach NormanS.Edelcup,Mayor <br /> _=' F 18070 Collins Avenue, Suite 250 Isaac Aelion,Vice Mayor <br /> ~ n Jeanette Gatto Commissioner <br /> . 1 I Sunny Isles Beach, Florida 33160 Gatto, <br /> * : Jennifer Levin,Commissioner <br /> .mow `'- , (305)947-0606 City Hall George"Bud"Scholl,Commissioner <br /> * . * (305)949-3113 Fax <br /> y 99, _x ."''.\or eP (305)947-2150 Building Department Christopher J. Russo,City Manager <br /> cir * F L ��5 (305)947-5107 Fax Hans Ottinot,City Attorney <br /> OF slit' ° Jane A.Hines,CMC,City Clerk <br /> MEMORANDUM <br /> TO: Honorable Mayor and City Commission <br /> FROM: Hans Ottinot, City Attorney <br /> DATE: July 18, 2013 <br /> RE: Resolution for the Lease Agreement for the Restaurant Facilities and Bait Shop at the <br /> Historic Pier <br /> RECOMMENDATION: <br /> This Resolution is presented for your consideration. <br /> REASONS: <br /> The City and Dr. Cornfeld have negotiated the terms for a long term Lease Agreement for the <br /> Restaurant and Bait Shop at the Pier. <br /> The following is a summary of the essential terms in the Lease Agreement between the City of <br /> Sunny Isles Beach (the "City") and American Federated Title Corporation as Trustee under Florida <br /> Land Trust # 3258 (the "Lessee") for the Restaurant Facilities and Bait Shop at the Historic Pier, <br /> located at Pier Park, 16501 Collins Avenue. <br /> KEY TERMS: <br /> Term: <br /> • The Lease Agreement is for the restaurant facility, bait shop and second floor of the <br /> restaurant facility <br /> • The initial lease term is for 20 (twenty) years, <br /> • The renewal terms include 3 (three) terms of 20 (twenty) years and another 1 (one) term of <br /> 10 (ten) years <br /> Rent: <br /> • Lessee shall pay the City a guaranteed monthly rent payment of $10,000.00 (ten thousand <br /> dollars) <br />