2011-1020 Regular City Commission Meeting

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Summary Minutes: Regular City Commission Meeting October 20, 2011 City of Sunny Isles Beach, Florida Weintraub she can see he is serious about coming to the City, although she wanted to approve an agreement tonight, she agrees to wait until next week to decide. Commissioner Aelion suggested attaching this item to the Special Commission meeting scheduled on Wednesday, November 9, 2011 at 3:00 p.m. instead of scheduling another Special Meeting, for the property Purchase Agreement be presented then and signed by the principles with the attached LOI so we will know what we are comparing here and not something that is left open-ended. Commissioner Scholl said he disagrees with what the City Manager said that it was all contingent on Site Plan approval and that is not true, to him it is all about if the building is going to be built or not in any kind oftimely manner. He doesn't agree with what we did because we had a credible individual come to the City and go through months of negotiation and we spurned him at the last minute. Whether we get a better deal or not, his issue is how we treat folks who come to the City to try to do business with us. Mr. Schulman said regarding a signed Purchase and Sale Agreement next week, he is a realist like Mr. Stamm is, and he sat with the City and negotiated agreements like this before and he feels that is somewhat unrealistic. City Attorney Ottinot said that we have purchased numerous properties over the years and we have drafted numerous purchase agreements, and generally when the City enters into a real estate transaction, we use our form contract, we tweak it to cover additional terms, and he believes that we can have an executed purchase agreement prepared and we will present it to both parties to review. A general purchase agreement generally has a lot of boiler plate terms that most real estate lawyers are familiar with. There are some new nuances with respect to the Letter ofIntent that can be added but it can be done. Mr. Schulman said he has no problem with that but Commissioner Aelion's suggestion to hear it on November 9 would give them a little bit of a cushion built in to get it done so we can negotiate some of these boiler plate terms which sometimes become the subject for negotiation. Mr. Stamm said he agrees with Mr. Schulman but he also has a tremendous amount of confidence in the City Attorney and his team to be able to get something done, they are prepared to go whenever the City wants, but he just wants to make sure that he is clear that they are each submitting a proposal to the City, and Mayor Edelcup said it is one submission from each of you, it has to be your best shot. Mr. Stamm asked ifhe would get the opportunity to see what he presents, and he sees what I present. City Attorney Ottinot said it is public record, and Mayor Edelcup said you have to make your best shot first because otherwise you are in a bidding contest again. Commissioner Scholl said to clarify, he doesn't believe we are accomplishing much by forcing two contracts in a week for best and final, we have two credible developers and so he doesn't have a problem with best and final LOIs, and then you spend a week drafting a contract with them. City Attorney Ottinot said the Letter of Intent that we have approved over the years is really non-binding, if this Letter ofIntent, the business terms are final, they are not going to change, it is pretty simple to put these business terms in a purchase agreement and they will execute the purchase agreement. Now after the execution of a purchase agreement, we all know that purchase agreement means this is a deal, you cannot back out, subject to Commission approval. Mayor Edelcup said that we have seen Letters of Intent and they are not going to change much as LOI from what we have seen, let's have both sides submit purchase documents. Commissioner Scholl said then that we should give it longer than a week, and Commissioner 17