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<br />RESOLUTION NO. 2011 - ~ <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, APPROVING A PURCHASE AGREEMENT <br />BETWEEN THE CITY OF SUNNY ISLES BEACH, AND DEZER <br />DEVELOPMENT, LLC AND WEINTRAUB INVESTMENTS, LLC, IN <br />SUBST ANTIALL Y THE SAME FORM AS THE A TT ACHED EXHIBIT" A", <br />ATTACHED HERETO, TO PURCHASE REAL PROPERTY FROM THE <br />CITY OF SUNNY ISLES BEACH LOCATED AT 18080 COLLINS AVENUE; <br />AUTHORIZING THE MAYOR TO EXECUTE SAID AGREEMENT, <br />PROVIDING THAT SAID AGREEMENT IS REVIEWED FOR LEGAL <br />SUFFICIENCY BY THE CITY ATTORNEY; AUTHORIZING THE CITY <br />MANAGER AND CITY ATTORNEY TO DO ALL THINGS NECESSARY <br />TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, the City of Sunny Isles Beach (the "City") is the owner of that certain real <br />property located at 18080 Collins Avenue (the "Alamo site"); and <br /> <br />WHEREAS, the City Commission is desirous of continuing to develop public <br />facilities/amenities to further the development of the City as a growing residential population and <br />top tourist destination; and <br /> <br />WHEREAS, the City was recently presented with a unique opportunity to develop the <br />Alamo site to continue to provide essential municipal services and to stimulate the redevelopment of <br />commercial properties on the west side of Collins Avenue; and <br /> <br />WHEREAS, the City Commission has considered competing letters of intent from <br />Weintraub Investments, LLC/Dezer Development, LLC and Shefaor Development, LLC to purchase <br />the Alamo property to create a first class executive office building with a parking garage to service <br />the office building (the "Project"); and <br /> <br />WHEREAS, after careful consideration given to these competing offers to purchase and <br />develop the Alamo site, the City desires to enter into a Purchase Agreement with Dezer <br />Development, LLC and Weintraub Investments, LLC, in substantially the same form as the attached <br />Exhibit "A" to facilitate the development of the Project. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Approval of Purchase Agreement. The Purchase Agreement between the City and <br />Dezer Development, LLC and Weintraub Investments, LLC, attached hereto as Exhibit "A" is hereby <br />approved in substantially the same form. <br /> <br />Section 2. Authorization of the Mayor. The Mayor is hereby authorized to execute the Purchase <br />Agreement between the City and Dezer Development, LLC and Weintraub Investments, LLC, <br />attached hereto as Exhibit "A" in substantially the same form, provided that said agreement is <br />reviewed for legal sufficiency by the City Attorney. <br /> <br />R2011- Dezer and Weintraub Purchase Agmt 18080 Collins Ave Page lof2 <br />