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<br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />Ciry Commission <br />Norman S. Edelcup, M'!)'or <br />Lewis J. Thaler, Vice M'!)'or <br />Roslyn Brezin, Commissioller <br />Gerry Goodman, Commissioller <br />George "Bud" Scholl, Commi.fSioner <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />(305) 947-2150 Building Deparunent <br />(305) 947-5107 Fax <br /> <br />Rick Conner, Actillg City Mallager <br />Hans Guinot, City Altomry <br />Jane A. Hines, City Clerk <br /> <br />MEMORANDUM <br /> <br />TO: The Honorable City Commission <br /> <br /> <br />FROM: Hans Ottinot, City Attorne <br /> <br />DA TE: May 21, 2009 <br /> <br />RE: Ratifying a Non-Binding Letter of Intent between the City of Sunny Isles Beach <br />and Regions Bank <br /> <br />RECOMMENDA TION: <br /> <br />It is recommended that the City Commission adopt the attached Resolution ratifying the Non- <br />Binding Letter of Intent between the City and Regions Bank. <br /> <br />REASONS: <br /> <br />Regions Bank has agreed to sell to the City the property located at 488 Sunny Isles Blvd. for $1.3 <br />Million Dollars. This agreement is contingent on Regions Bank obtaining clear and marketable <br />title from a foreclosure action. The purchase of this property will allow the City to expand the <br />size of Bella Vista Park. <br /> <br />/ Attachment <br /> <br />~t:>D-OW <br />Agenda Item ---LO..l.!- <br /> <br />Date 6-2t-O'1- <br />