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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) 949-3113 Fax <br />(305) 947-2150 Building Deparlment <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. Edekup, Mayor <br />!.ewis.1. Thaler. Vice Mayor <br />Isaac Aelion. Commissioner <br />Jeanette Gatto, Commissioner <br />George "Bud" Scholl, Commissioner <br /> <br />Alan .1. Cohen, City Manager <br />lIaos OHinot. City Attorney <br />Jane A. Hines, CMC. City Clerk <br /> <br />MEMORANDUM <br /> <br />TO: The Honorable City Commission <br /> <br />FROM: Alan J. Cohen, City Manager <br /> <br />DATE: March 28, 2012 <br /> <br />RE: Resolution Approving the Initial Schematic Design for Gateway Park and <br />I)arking Garage, the Second Amendment to Design-Build Agreement with 4M <br />Invcstors, LLC for a Park and Parking Garage, and a Tax Exemption <br />Agreemcnt <br /> <br />RECOMMENDATION: <br /> <br />Attached for your consideration is a Resolution approving the Initial Schematic Design for <br />Gateway Park and Parking Garage, the Second Amendment to Design-Build Agreement with 4M <br />Investors, LLC for a Park and Parking Garage, and a Tax Exemption Agreement. <br /> <br />REASONS: <br /> <br />The City entered into a Design-Build Agreement with 4M Investors, LLC for certain City-owned <br />parcels of real property to have constructed site improvements consisting of a Park and Parking <br />Garage for Gateway Park. This Second Amendment to Agreement includes additional amenities <br />to the project consisting of the total and complete design and construction of a Park and a 308- <br />space Parking Garage consistent with the structural design and aesthetic standards of the City- <br />owned garage located at Heritage Park, associated landscape, irrigation work, underground <br />drainage system, and as generally described in the revised schematic proposal submitted to the <br />City on February 13, 2012. These additional amenities to the project will increase the <br />guaranteed maximum price of the project from $10.7 Million to $16.5 Million. <br /> <br />The City will recoup approximately $200,000 of the total through the use of Direct Purchase <br />Agreements that eliminates the sales tax portion of the cost. The City will also recoup $500,000 <br />of the total through a donation being made to the City for the construction of the perfonnance <br />stage. <br /> <br />Agenda Item <br /> <br />:SA <br /> <br />Date 3-2~- 1'2- <br />