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<br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />RE: <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue, Suite 250 <br />Sunny Isles Beach, Florida 33160 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler, Vice Mayor <br />Gerry Goodman, Commissioner <br />Roslyn Brezin, Commissioner <br />Danny Iglesias, Commissioner <br /> <br />A. .John Szerlag, CIty Manager <br />Hans Ottinot, City Allorney <br />Jane A. Hines, CMC, City Clerk <br /> <br />MEMORANDUM <br /> <br />The Honorable City Commission <br /> <br />Hans Ottinof, City Attorne~ <br />June 12, 2007 <br /> <br />Proposed Resolution Approving an Option Agreement with Intercoastal <br />Management Association, Ltd. for Purchase and Sale of Real Property, Folio # <br />31-2214-008-0350, in the Amount of $500,000 <br /> <br />RECOMMENDATION: <br /> <br />This proposed Resolution Approving an Option Agreement with Intercoastal Management <br />Association, Ltd. for Purchase and Sale of Real Property, Folio # 31-2214-008-0350, in the <br />Amount of $500,000 with an Option Deposit of $50,000 for a 90-day Option, which Deposit <br />shall be applied to the Purchase Price if the City Proceeds to Purchase, is presented for your <br />consideration and approval. <br /> <br />REASONS: <br /> <br />On March 13, 2006, the City Commission held an Open Space Workshop to discuss the <br />development of a strategic plan for the acquisition of property for open space/park purposes. <br />The property identified as folio # 31-2214-008-0350, located along Collins A venue, presents a <br />unique opportunity for the City to purchase additional property for open space/park purposes. <br /> <br />Intercoastal Management Association, Ltd, is willing to accept an Option Agreement for the <br />purchase of said property in the amount of $500,000 with an option deposit of $50,000 for a 90- <br />day option, which deposit shall be applied to the purchase price if the City proceeds to purchase. <br /> <br />The purchase of the above property will help the City meet its open space/park objectives. <br />kw\t\1 ct\--e cx.VC\\\L\ \k 'IV'-. '\4. ~t t:xW\t Q.({Oi..tl-\'t. ':W .JO.. bOO'- ~f; 5J.- O~~ <br />H a/fa <br /> <br />Agenda Item <br />Date <br />