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<br />RESOLUTION NO. 2007---L.l.1J..b <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY <br />OF SUNNY ISLES BEACH, FLORIDA, ("CITY") APPROVING <br />A SETTLEMENT AGREEMENT BETWEEN THE CITY AND <br />MARINA BAY CLUB ASSOCIATION, L TD, ("MARINA BAY"), <br />TO SETTLE ALL DISPUTES RELATING TO FIVE PERCENT <br />(5%) OCCUPANCY RESTRICTION RULE FOR THE MARINA <br />BAY CONDOMINIUM-HOTEL FOR A TOTAL LUMP SUM OF <br />TWO HUNDRED AND TWENTY FIVE THOUSAND <br />DOLLARS, ($225,000.00) AND A COMMITMENT TO COMPLY <br />WITH THE CITY'S OCCUPANCY RESTRICTION RULE, <br />SUBJECT TO CERTAIN CONDITIONS; AUTHORIZING THE <br />CITY ATTORNEY AND THE CITY MANAGER TO DO ALL <br />THINGS NECESSARY TO EFFECTUATE THE TERMS OF <br />THIS AGREEMENT; AND PROVIDING FOR AN EFFECTIVE <br />DATE. <br /> <br />WHEREAS, the zoning history of the Marina Bay Condominium-Hotel reflects that the <br />development project was approved for 100 residential units with one of the units being <br />designated on the site plan as the Manager's apartment; and <br /> <br />WHEREAS, the City of Sunny Isles Beach issued two (2) warning notices to Marina <br />Bay Condominium Association requesting compliance with the five percent (5%) occupancy <br />restriction rule imposed on apartment-hotels; and <br /> <br />WHEREAS, Marina Bay has made an offer to the City to settle all disputes relating to <br />occupancy restriction for the 100 units for a total lump sum of Two Hundred Thousand Dollars, <br />($200,000.00) and has proffered a commitment to comply with the City's occupancy restriction <br />rule; and <br /> <br />WHEREAS, Marina Bay further agrees to donate to the non-profit school committee a <br />voluntary contribution of $25,000.00 for school purposes; and <br /> <br />WHEREAS, the City has agreed to accept the settlement offer of $200,000.00, and the <br />$25,000.00 voluntary contribution subject to celiain terms and conditions. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section I. Approval of Agreement. The City Commission hereby approves the Settlement <br />Agreement between the City of Sunny Isles Beach and Marina Bay Club Association, Ltd. <br />attached hereto as Exhibit "A", with the condition that Marina Bay tender $200,000.00 to the <br />City for use with the Arts-In-Public place projects and tender $25,000.00 to the non-profit school <br />