Reso 2007-1168 - Laserfiche WebLink

Home Browse Search

I RESOLUl1ION NO. 2007-J.J..k.f A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AMENDING RESOLUTION NO. 2007-1158 TO EXTEND THE TIME FOR PAYMENT OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") BY MANSIANA OCEAN RESIDENCES, LLC, (COMMONL Y KNOWN AS THE SOLIS DEVELOPMENT PROJECT); APPROVING THE FIRST. AMENDMENT TO PROMISSORY NOTE ATTACHED HERETO AS EXHIBIT "A"; PROVIDING THE CITY MANAGER AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING AN EFFECTIVE DATE. WHEREAS, by Resolution No. 2007-1158, adopted on September 20, 2007, the City Commission agreed to extend the time for payment of TDRs by Mansiana Ocean Residences, LLC ("Mansiana"); and WHEREAS, Mansiana has requested another extension of time to make the payment that is required in accordance with the promissory note as approved pursuant to Resolution No. 2007- 1158; and WHEREAS, the City Commission wishes to grant the request for extension of time to make the necessary payment. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Incorporation of recitals. The foregoing recitals are true and correct are incorporated herein by reference as if they fully set forth herein. Section 2. Amending Resolution No. 2007-1158. The City Commission hereby amends Resolution No. 2007-1158 to extend the deadline for payment of TDRs by Mansiana Ocean Residences, LLC. Section 3. Approval of the First Amendment to Promissory Note. The City Commission hereby approves a First Addendum to the Promissory Note attached hereto as Exhibit "A". Section 4. Authority of the City Manager and City Attorney. The City Manager and the City Attorney are hereby authorized to do all things necessary to effectuate the terms of this Agreement. Section 5. Effective Date. This Resolution will become effective upon adoption. Amending Mansiana Reso 2007-1158 Page I of2