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<br />Letter to Hans Ottinot, City Attomey <br />City of Sunny Isles Bea(~h <br />August 31, 2005 <br />Page 2 <br /> <br />fees under ~73.092(l). However, in this matter, the City and Vanguard negotiated an agreement <br />whereby Vanguard's leil~ehold estate was 110t extinguished by an order of taking. Instead, the <br />property at issue was taken subject to VanglUlrd's property interest. Thus, apporti0l1J11ellt of full <br />compensation between the owner of the leased fee (18100 Collins Avenue Shopping Center, <br />Ltd.) and Vanguard was unnecessary. It is the renegotiation of Vanguard's property interest <br />through the First Addc:ndum that creates a quantifiable benefit in favor of Vanguard, <br />Accordingly, Vanguard':) claim for attorney's fees should be analyzed under ~73.092(1). <br /> <br />The primary COll:;lderation for calculating attomey's fees under g73.092(1) is "'benefits <br />achieved for the cliem," I have investigated and confirmed several quantifiable benefits <br />achieved by Vanguard's COLlllsel under terms of the First Addendum: <br /> <br />. the value of the leasehold estate as detel1Ilined by the City's appraiser increased <br />from $liO,OOO to $450,000 during the.represcntation, $180,000 of which is <br />irrnnedia1l::1y payable upon commencement of the revised lease term <br /> <br />. the redu( lion in the size of the leased premises and associated 50% decrease in <br />rent is fal/orable to Vanguard by permitting continued access to Collins Avenue <br />and to ex i~ting fuel pumps <br /> <br />. the City must pay Vanguard for relocation costs upon early tennination of the <br />leasehold estate <br /> <br />. the City must pay Vanguard for the fair market value of improvements upon early <br />termination of the leasehold estate <br /> <br />. by avoiding the taking of its property interest under the First Addendum, <br />Vanguard's counsel eliminated disruption of, and risk to, Vanguard's business <br />operatiO!l for at least four years <br /> <br />Although the teans of the First Addendum negotiated by Vanguard's cOlIDsel would be <br />diffi.cu1t to quantify, th~lY definitely provide a financial benefit. Accordingly, I recommend <br />payment by the City of rile fees claimed by counsel for Vangu.ard. <br /> <br />Please contact nll~ if YOLl have any questions or would like additional infonnation, It has <br />been a pleasure workinf', with you on behalf of the City of Sunny Isles Beach. <br /> <br />Very trllI y yours, <br /> <br />f\\hU~ <br /> <br />Mitchell J, Bumstein <br /> <br />MJB:lb <br />