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<br />,. 05/:5/2008 14:27 305g483410 <br /> <br />RK_ASSOCIATES <br /> <br />PAGE 01/02 <br /> <br /> <br />17100 Collins Avenue ~ Suite 225 <br />Sunny Isles Beach. Florida 33160 <br />Telephone: 305-949-4110 >I< Focsimile: 305-948-3410 <br /> <br />456 Providence Highway' Post Office Box 111 <br />Dedhom. Massachusetts 02027-0111 <br />Telephone: 781--320-0001 ~ Focsimlle: 781-320-3610 <br /> <br />E-mail: rkatz@rkcenters.com <br />www.rkcenters.com <br /> <br />May 15, 2008 <br /> <br />Norman Edelcup, Mayor <br />John Szerlag, City Manager <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />E-mail: nedelcup@sibfl.net <br />E-mail: jszerlag@sibfl.net <br /> <br />RE: Gymnasium Naming Rights <br /> <br />Dear Norman and John: <br /> <br />I am in receipt of your letter to me dated May 15, 2008 regarding the <br />uRaanan and Phyllis Katz Sports Center" naming rights. As you know, I <br />have always supported the City of Sunny Isles Beach and plan to <br />continue to do so. <br /> <br />I have reviewed the proposal in your letter and I would like to clarify <br />same. I plan to commit and pay to the City of Sunny Isles Beach <br />$75,000 per year in exchange for the naming rights of this facility. I <br />intend to make an upfront payment in the amount of $150,000, which <br />will cover the' first two years of the agreement. <br /> <br />I fully understand that if I do not make the $75,000 annual payment, then <br />the City has the right to remove my name from the facility. <br /> <br />My charitable gift is based upon my strong business relationship with the <br />City of Sunny Isles Beach. <br /> <br />Regards, L,,, <br />~, }~:r--- <br />Raanan Katz <br /> <br />cc: Hans Ottinot, City Attorney <br />