HomeMy WebLinkAboutReso 2008-1362
RESOLUTION NO. 2008- 1'3(.,'2.
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, APPROVING A NON-
BINDING LETTER OF INTENT BETWEEN THE CITY OF
SUNNY ISLES BEACH AND LSB INVESTMENT CORPORATION
IN SUBSTANTIALLY THE SAME FORM AS EXHIBIT "A" TO
LEASE VACANT LOT ABUTTING THE MILLENNIUM PLAZA
SHOPPING CENTER; AUTHORIZING THE CITY MANAGER
AND CITY ATTORNEY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City is the fee simple owner of vacant parcel of land abutting the
Millennium Plaza Shopping Center; and
WHEREAS, LSB Investment Corp. ("LSB") owner of the Millennium Plaza Shopping
Center abutting the vacant lot, is desirous of leasing the vacant lot to expand the parking for the
shopping center; and
WHEREAS, City staff has negotiated and proposed entering into a non-binding Letter of
Intent with LSB to lease the vacant lot to add additional parking for the shopping center and to
install sufficient landscape buffer to mitigate any impacts that the lot may have on adjacent
neighborhoods.
WHEREAS, the negotiated terms in the Letter of Intent specifies the responsibilities of
the parties with respect to the Project, including terms and conditions of the lease and conditions
of use.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Ratification of Letter of Intent. The City Commission hereby ratifies the non-
binding Letter of Intent in substantially the same form with LSB Investment Corporation to lease
a vacant lot located in the Golden Shores area abutting the Millennium Shopping Center Plaza to
be used as additional parking for the Shopping Center and subject to certain conditions of use,
attached hereto as Exhibit "A".
Section 2. Authorization of City Manager and City Attorney. The City Manager and City
Attorney are hereby authorized to do all things necessary to effectuate this Resolution.
Section 3.
Effective Date. This Resolution shall become effective upon adoption.
Authorizing The CC To Execute Non-Binding LO! Lsb - LSB Investments
Page I of2
PASSED AND ADOPTED this 18th day of December 2008.
ATTEST:
~A~
Jane A. Hines, City Clerk
APPROVED AS TO FORM
AND L L FICIENCY:
Moved by:
-J \ c.. Mil ~ -rl-\m='~R
~~ <;C.Ho1..L
Seconded by:
Vote: ~ -.Q ~ I
Mayor Edelcup
Vice Mayor Thaler
Commissioner Goodman
Commissioner Brezin_f\bS~
Commissioner Scholl
-1.L(Yes)
~Yes)
-L,L(Yes)
(Yes)
___~JYes)
_(No)
_(No)
_(No)
_(No)
(No)
Authorizing The CC To Execute Non-Binding LOI Lsh - LSI3 Investments
Page 2 of2
. C .. December 3,2008
City ommlSSlon
Norman S. Edelcup
Mayor
Lewis J. Thaler
Vice Mayor
Roslyn Brezin
Commissioner
Gerry Goodman
Commissioner
George "Bud" Scholl
Commissioner
A. John Szerlag
City Manager
Hans Ottinol
City Attorney
Jane A. Hines
City Clerk
Via Fax and U.S. Mail
Barry Shelomovitz
LSB Investments
17700 Collins Avenue
Sunny Isles Beach, FL 33160
RE: NON-BINDING LETTER OF INTENT FOR THE PROPOSED LEASE OF
CERT AIN REAL PROPERTY CONTAINING APPROXIMA TEL Y 8,148 SQUARE
FEET LOCATED IN THE CITY OF SUNNY ISLES BEACH, FLORIDA, COUNTY
OF MIAMI-DADE, AND STATE OF FLORIDA DEPICTED ON EXHIBIT "A"
A TT ACHED HERETO AND IN CORPORA TED HEREWITH ("THE PROPERTY")
Dear Mr. Shelomovitz:
This non-binding Letter of Intent sets forth some of the basic business terms pursuant to
which LSB Investment, a Florida Limited Liability company ("Tenant"), proposes to lease
the Property from the City of Sunny Isles Beach ("Landlord").
1. Site. It is our understanding that Landlord is the fee owner of the Property
described in Exhibit "A" which currently abuts the Millennium Plaza.
2. Effective Date. The effective date of the Lease ("Effective Date") is the date
upon which the Mayor of the City of Sunny Isles Beach shall sign the Lease. The Lease
shall then commence ("Commencement Date") immediately following the execution at
which time Tenant shall commence paying rent ("Rent Commencement Date") and shall
continue to pay rent for the initial term of 20 years.
3. Rent and Term. Tenant shall pay annual rent of Twenty Five Thousand Dollars
($25,000.00) which shall be subject to an annualized increase per year based upon the lesser
of the cpr or 3%. The lease shall be for 20 years ("initial term") with an option to renew,
upon mutual agreement of the parties, for two (2) successive twenty (20) year period,
upon delivery of written notice from Tenant to Landlord sixty (60) days prior to the
expiration of the initial term.
4. Taxes and Insurance. Tenant shall be responsible for all taxes that the Property
may be subject to under Florida Law. Tenant shall maintain adequate insurance coverage at
all times and add Landlord as an additional insured on its insurance policy.
4. Conditions of Use. Tenant's obligations to go forward with the Lease and
tenant's obligation to commence construction on the Property are subject to and contingent
upon each and all of the following (hereinafter sometimes collectively referred to as the
"Conditions"):
Exhibit "A"
(b) Install sufficient landscape buffer to mitigate any impacts that the Property may .
have on adjacent neighborhoods and view from Collins Avenue; and
(c) Install sufficient lighting in the parking lot area to protect the public and the
Tenant shall submit a lighting plan for approval by the City Manager or designee.
6. Approval of City Commission. This letter is not binding on either party until the
lease agreement is approved by the City Commission. No lease or agreement shall be
deemed to exist between Landlord and Tenant, unless and until the Lease agreement is
executed by the Mayor of the City of Sunny Isles Beach.
Upon mutual execution of this letter by Landlord and Tenant, Landlord will proceed with
the preparation of the Lease Agreement.
AGREED TO AND ACCEPTED BY LSB INVESTMENT:
By:
Barry Shelomovitz
Date:
cc: Honorable City Commission
A. John Szerlag, City Manager
Fernando Amuchastegui, Asst. City Attorney
Jorge Vera, Assistant City Manager/Service
Doug Haag, Assistant City Manager/Finance
Harold Rifas, Esq.
EXHIBIT "A"
LEGAL DESCRIPTION: GOLDEN SHORES OCEAN BLVD ESTZ SEC D PB 53-48
LOT 12 BLK 2 LESS S BEG SE COR OF LOT NWL Y 153.14FT S150 .16FT TO POB
FOR R/W & LESS BEG SE COR OF LOT S 86 DEG W
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947-0606 City Hall
(305) 949-3113 Fax
(305) 947-2150 Building Department
(305) 947-5 107 Fax
Cify Commission
Norman S. Edelcup, Mayor
Lewis .1. Thaler. J'ice Mayor
Gerry Goodman,Commissioner
Hoslyn Brezin, Comllllssioner
George "Bud" Scholl, Commissioner
A. John Szerlag, City Manager
lIans Ottinol, Cify A/lorney
.Jane A. lIines. CMC. Cify Clerk
MEMORANDUM
TO: The Honorable City Commissio
FROM: Hans Ottinot, City Attorney
DATE: December 18, 2008
RE: Approval of Letter of Intent with LSB Investment Corporation
RECOMMENDA TION
It is recommended that the City Commission approve the attached Resolution, approving a letter of
intent between the City of Sunny Isles Beach and LSB Investment Corporation.
REASONS
As you know. the City owns a small vacant lot abutting the Millennium Shopping Plaza. The owner of
the Millennium shopping Plaza, LSB Investment Corp ("LSB") wishes to add additional parking for
the shopping center and has approached the City to buy the property from the City.
Staff has negotiated and proposed entering in to a non-binding letter of intent with LSB to lease the
vacant lot to add parking for the shopping center. LSB will rent the vacant lot for an initial term of 20
years for $25,000.00 per year subject to an annualized increase per year based on the lesser of the CPI
or 3%. LSB will also. as a condition of use, be responsible for installing sufficient landscape buffer to
mitigate any impacts that the property may have on adjacent neighborhoods and view from Collins
Avenue. LSB will also be required to add security lighting.
Upon approval of this Letter of Intent, staff will take the necessary steps to enter in a lease agreement
with LSB Investment Corp.
/ attachment
Agenda Item l D ~
Date ( 2. - \ ~ - () ~
TO:
FROM:
DATE:
RE:
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947-0606 City Hall
(305) 949-3 I I 3 Fax
(305) 947-2150 Building Department
(305) 947-5107 Fax
City Commission
Norman S. Edelcup, Mayor
Lewis J. Thaler, Vice Mayor
Roslyn Brezin. Commissioner
Gerry Goodman, Commissioner
George "Bud" Scholl, Commissioner
A. John Szerlag, City Manager
Hans Ottinot, City Attorney
Jane A. Hines, CMC, City Clerk
MEMORANDUM
Hans Ottinot, City Attorney
Jane A. Hines, CMC, City Clerk ~ f\ ~
December 24, 2008
Approval of Agreements
At its regular meeting of December 18, 2008, the City Commission adopted the following
Resolutions:
. Resolution No. 2008-1360 Approving an Agreement with Barthet Firm;
. Resolution No. 2008-1361 Approving a Settlement Agreement with the County
Property Appraiser's Office; and
. Resolution No. 2008-1362 Approving a Non-Binding Agreement with LSB
Investment.
Enclosed is a copy of each of the adopted Resolutions for your handling.
Thank you.
Attachments
cc: Doug Haag, Assistant City Manager/Finance
Memo Hans Ottinot Re Resolutions Approved 121808