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Summary Minutes:Regular City Commission Meeting July 17,2014 City of Sunny Isles Beach,Florida <br /> suits as a result of that particular Resolution that was passed. He was very vocal about it at <br /> the time and throughout those lawsuits, it was very frustrating. We all got deposed,we spent <br /> a lot of time on legal fees, there was an argument made that our insurance carrier paid the <br /> legal fees but our Legal Department still spent a lot of time on this issue. This is not without <br /> cost to the City,we are taking 15,000 TDRs out of our TDR Bank and we are giving them as <br /> compensation for the historical designation. At the current going rate that is worth $1.5 <br /> million dollars. Although the $175,000.00 is coming from the insurance carrier, the City is <br /> still suffering the opportunity cost of upwards of$1.5 million dollars to settle this issue.He is <br /> voting for the settlement for the simple fact that he is one vote, he was outvoted on that <br /> particular issue,he never believed that the property should have been designated however as <br /> far as the settlement is concerned,the property owner is getting some just compensation. We <br /> followed a process for designation,he is not questioning the validity of the process,but he is <br /> questioning the fact that his colleagues emotions ran high. <br /> Mayor Edelcup said we followed all of the procedures,and we are here with a settlement and <br /> there is nothing to be gained by rehashing what was done 5 or 10 years ago. Commissioner <br /> Scholl said we learned from it. Mayor Edelcup said he thinks we have learned from it but we <br /> did follow the procedure and the designation was upheld. <br /> Commissioner Gatto moved and Commissioner Levin seconded a motion to approve the <br /> resolution. Resolution No. 2014-2274 was adopted by a voice vote of 5-0 in favor. <br /> 11. MOTIONS <br /> None <br /> 12. DISCUSSION ITEMS <br /> None <br /> 13. CITIZENS' FORUM: REQUESTS, PETITIONS & OTHER COMMUNICATIONS <br /> None <br /> 14. ADJOURNMENT <br /> Mayor Edelcup adjourned the meeting at 8:35 p.m. <br /> Respectfully submitted by: Approved by the City Commission on Sept. 18, 2014 <br /> I it <br /> A Zi/IggPV) -Z&6 ?'P <br /> Jane A. Hines, MMC, City Clerk Nor n S. Edelcup, May <br /> 19 <br />