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<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) 949-3 II 3 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler, Vice Mayor <br />Roslyn Drezin, Commissioner <br />Jeanette Gatto, Commissioner <br />George "Bud" Scholl, Commissioner <br /> <br />Rick Conner, City Manager <br />Hans Ollino!, City Allorney <br />Jane A. Hines, CMC, Cily Clerk <br /> <br />MEMORANDUM <br /> <br />TO: The Honorable Mayor and City Commission <br /> <br />FROM: Hans Ottinot, City Attorney <br />Rick Conner, City Manager <br /> <br />DATE: December 16,2010 <br /> <br />RE: Approving a Ground Lease, Development Agreement, and Design-Build <br />Agreement Between the City of Sunny Isles Beach and 4M Investors, LLC <br /> <br />RECOMMENDA TION: <br /> <br />Authorize the City to enter into a Ground Lease, Development Agreement, and Design-Build <br />Agreement with 4M Investors, LLC covering approximately 3.7 acres ofland owned by the City <br />on the north side of Sunny Isles Boulevard (the "Property") for development of a park, parking <br />garage, Aquatic Entertainment Center, and associated retail (the "Project"). <br /> <br />BACKGROUND: <br /> <br />The City Commission contemplates the development of real property within the Town Center <br />District for a public parking garage, a public park and Aquatic Entertainment Center. <br />Subsequently, the City provided public notice of its intent to solicit proposals to design and build <br />the Project on the Property. In response to the City's bid solicitation (RFP No. 10-10-1) issued <br />on October 6, 2010, 4M Investors, LLC, (the "Developer") submitted a response which was <br />accepted by the City Commission on November 18,2010, via Resolution No. 2010-1632, <br />to develop the Project. The City has procured a traffic analysis based on the projected usage <br />and the findings indicate that with very minor roadway and signage modifications, there will not <br />be any deterioration of traffic. <br /> <br />Ground Lease <br /> <br />The City of Sunny Isles Beach (the "City") is the fee simple title holder of the property located at <br />151 Sunny Isles Boulevard. The City and Developer desire to enter into a ground lease in order <br />to develop the Project. <br /> <br />The salient provisions of the Lease are: <br /> <br />Agenda Item 1 0 K <br />Date I Z - ~ () <br />