Laserfiche WebLink
<br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <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 />Cify Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler, Vice ,\4ayor <br />Gerry Goodman. Commissioner <br />Roslyn Brezin, CommIssIOner <br />George "Bud" Scholl, CommissIOner <br /> <br />A. John Szerlag. Cllr Manager <br />Hans Ottinol. Cily Arromey <br />,Jane A. llines, C\IC, Clly Clerk <br /> <br />MEMORANDUM <br /> <br />TO: The Honorable Mayor and City Commission <br /> <br />FROM: Hans Ottinot, City AttorncY~ <br />DATE: March 12,2008 <br /> <br />RE: Approval of Option Agreement for Purchase of Property from -. Joseph Milton <br /> <br />RECOMMENDA TION <br /> <br />It is recommended that the City Commission adopt the attached Resolution, approving an Option <br />Agreement for the purchase ofpropel1y from St. Tropez III, LLC., commonly known as Joseph Milton. <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 acquisition of land for open space, public parking, and <br />roadway improvements. Mr. Milton has accepted the offer made by the City to acquire a vacant <br />parking lot on Sunny Isles Boulevard. The property discussed herein will help satisfy the City's open <br />space and public parking needs, <br /> <br />The St. Tropez III, LLC, the owner of the vacant lot located to the east of 287 Sunny Isles Boulevard, <br />is willing to enter into an Option Agreement with the City for the purchase of said property, in the <br />amount of $1,558,419.78 (One Million Five Hundred Fifty-Eight Thousand Four Hundred Nineteen <br />Dollars and Seventy-Eight Cents) 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 />lattachment <br /> <br />HO/jb <br /> <br />Agenda Item ~ 0 G <br />Date :) -?--D - ol? <br />