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<br /> <br />City of Sunny Isles Beach <br />] 8070 Collins Avenue <br />Sunny Isles Beach, Florida 33] 60 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3 II 3 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. EdeJcup, Mayor <br />Lewis J. Thaler, Vice Mayor <br />Gerry Goodman, Commissioner <br />Roslyn Brezin, Commissioner <br />George "Bud" Scholl, Commissioner <br /> <br />A. John Szerlag, City Manager <br />Hans Ottinot, City Attorney <br />Jane A. Hines, CMc, City Clerk <br /> <br />MEMORANDUM <br /> <br />TO: The Honorable Mayor and City Commission <br /> <br />FROM: Hans Ottinol, City Attorney ~ ' <br />DATE: January 17,2008 <br /> <br />RE: Approval of Option Agreement for Purchase of Property from the Phyllis Goldman <br />Trust <br /> <br />RECOMMENDATION <br /> <br />It is recommended that the City Commission adopt the attached Resolution, approvlllg an Option <br />Agreement for the purchase of property from the Phyllis Goldman Trust. <br /> <br />REASONS <br /> <br />The City is in the process of redeveloping the Sunny Isles Boulevard corridor of the City and, towards <br />that end, has allocated certain funding for roadway improvements. The property located at 287 Sunny <br />Isles Boulevard presents a unique opportunity for the City Commission to purchase property to satisfy <br />the City's open space and public parking needs. <br /> <br />The Phyllis Goldman Trust, the owner of the property located at 287 Sunny Isles Boulevard, is willing <br />to accept an Option Agreement with the City for the purchase of said property, in the amount of <br />$3,000,000 (three million dollars) with an option deposit of $50,000 (fifty thousand dollars) for a 60- <br />day option. Upon approval of this option agreement, staff will take the necessary steps to close on the <br />property. Funds are available in account number 20-600-5652. <br /> <br />/attachment <br /> <br />HO/faljb <br />