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rNY ts�pCtt of Sunn Isles Beach City,Commission <br /> 3 y Norman S.Edelen!).Mayor <br /> F 18070 Collins Avenue Lewis J.Thaler. Vice Mayor <br /> �- `O .� Sunny Isles Beach. Florida 33160 Isaac Action.Commissioner <br /> Jeanette Gatto.Commissioner <br /> (305)947-0606 City Hall George-Bud"Scholl.Commissioner <br /> _ (305)949-3113 Fax <br /> irOae s:. soy se (305)947-2150 Building Department <br /> Alan J.Cohen.Ciry,ifanager <br /> E°rr S, jos (305)947-5107 Fax Hansines.C.City Attorney <br /> ror sus '" Jane A.Hines.CMC.City Clerk <br /> MEMORANDUM <br /> TO: The Honorable City Commission <br /> FROM: Alan J. Cohen, City Manager <br /> DATE: March 28, 2012 <br /> RE: Resolution Approving the Initial Schematic Design for Gateway Park and <br /> Parking Garage, the Second Amendment to Design-Build Agreement with 4M <br /> Investors, LLC for a Park and Parking Garage, and a Tax Exemption <br /> Agreement <br /> RECOMMENDATION: <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 /> REASONS: <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 510.7 Million to $16.5 Million. <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 performance <br /> stage. <br /> Agenda Item 3 A <br /> Date 3- 21g - 12 <br />