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City of Sunny isles Beach <br /> 14,sir <br /> v 18070 Collins Avenue <br /> •:.A.15ki <br /> Sunny Isles Beach, Florida 33160 <br /> (305)947-0606 City Hall <br /> ,o) <br /> c'/*? iog I- (305)949-3113 Fax <br /> . MEMORANDUM . <br /> • <br /> • <br /> TO: The Honorable Mayor and City Commission <br /> . • <br /> • FROM: Christopher J. Russo, City Manager <br /> DATE: 5/16/2019 <br /> Approving a First Amendment to the Triple Net <br /> RE: Leaseback Agreement with Ctirrier HoUse, LLC for the <br /> Property Located et 15800 Collins Avenue <br /> RECOMMENDATION: <br /> It is recommended that the City ComMisSiOn approVe.the attached <br /> Resolution. <br /> . . <br /> • • <br /> REASONS: ; • <br /> On March 17, 2016, the City entered into a 18-month Triple Net <br /> • Leaseback agreement with:Comer House; LLQ,.who,isthe clevelop.er <br /> of Ritz-Carlton Residences, for the property Iodated at15800 Collins • . <br /> Avenue. The • developer has expressed their desire to extend the <br /> termination date to-October 16, 2020;and also:Includa an additional:six <br /> (6) mOnth renewal option.All other terms arid..conditidng:-previously <br /> agreed to in the original agreement will remain in effect. <br /> • <br /> ATTACHMENTS: <br /> Description <br /> RetolutiOn <br /> First Amendment <br /> Item Number: 10.D. <br /> 72 <br />