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ar 9i ..-qty 4r <br />d • -1.0 '+ <br />a <br />OF StYM <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305)949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />VIA: Stan Morris, City Manager <br />FROM: Susan Simpson, Deputy City Manager <br />DATE: January 19, 2023 <br />RE: Ratification of Second Amendment to the Lease Agreement with Suf`0 <br />Construction Company, Inc. <br />RECOMMENDATION: <br />Staff recommends approval of this Resolution. <br />REASONS: <br />Through Resolution No. 2022-3376, the City entered into a lease agreement with Suffolk Constructior <br />Company, Inc for the use of the city owned vacant property formerly known as the Tony Roma's <br />restaurant. The property had been left vacant without producing income. The initial lease was agreed <br />to expire no later than December 31, 2022 and was for a portion of the premises that equated to <br />approximately half of the available square footage. The initial term was limited as the City was in the <br />process of issuing a Request For Proposals that was hoped to result in a new full-time tenant by the <br />first of 2023. As those bids were rejected, the City Commission discussed and authorized the Citi <br />Manager to enter into negotiations with Suffolk to extend their lease at the same rate as the <br />anticipated restaurant revenue. Suffolk agreed to rent the entire premises at the increased rate of <br />$20,000.00 per month with all of the same terms and conditions as the initial agreement to include <br />their full financial responsibility for utilities and property taxes. Due to the expiration of the initial <br />term, this amendment was executed and is before you now for ratification. <br />ADDITIONAL INFORMATION: <br />This new term will expire on June 30,2023 so that the City may continue the bidding process for a <br />restaurant operator for this property while still providing for the same cancellation terms as the <br />original agreement of 14 days notice if necessary. <br />FUNDING SOURCE: <br />No funding is required for approval of this item as it is a revenue generating agreement. <br />Item Number: 10.F <br />