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SUN City 'NY ts4 Cit of Sunny Isles Beach CitvCommission <br /> F.1 � � George"Bud"Scholl,Mayor <br /> ,°j <9 18070 Collins Avenue, Suite 250 Jeanette Gatto,Vice Mayor <br /> {",- �' Isaac Aelion, Commissioner <br /> u , ;,F.,. _ -1 = Sunny Isles Beach, Florida 33160 Dana Goldman,Commissioner <br /> ' , '7'.�_ Jennifer Levin,Commissioner <br /> �=��`�„' (305)947-0606 City Hall <br /> (305)949-31 13 Fax <br /> a *mss P+ Christopher J.Russo City Manager <br /> ye 91. F L 0‘ ‘C). s''P (305)947-2150 Building Department <br /> c, . (305)947-5107 Fax Hans Ottinot,City City Clerk <br /> Y of suri l'`4.° Jane A.Hines,i\INIC,CityClerk <br /> MEMORANDUM <br /> TO: The Honorable City Commission <br /> FROM: Hans Ottinot, City Attorney el <br /> DATE: July 16, 2015 <br /> RE: Resolution ratifying the Cancellation of an Agreement for Purchase and Sale <br /> between the City of Sunny Isles Beach and Chabad Lubavitch Russian Center of <br /> South Florida <br /> RECOMMENDATION: <br /> This Resolution is presented for your consideration. <br /> REASONS: <br /> On or about August 29th, 2014, the City had entered into a Purchase Agreement with Chabad <br /> Lubavitch Russian Center of South Florida (the `Buyer") to sell property commonly known as <br /> Buena Vista Park ("Property"). After providing the Buyer with more than 180 days to effectuate <br /> the Closing, the Buyer was not able to close within the required time frame. As such, the <br /> Purchase Agreement was cancelled. <br /> Notwithstanding default by the Buyer, the City Commission has instructed the City Manager and <br /> the City Attorney to return the deposit of$500,000 to the Buyer. <br />