File Ref. #076
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WEST SIDE PARTNERS, ~.c E 1 V E. 0
EAST COASTLINE DEVELOPMENT{ LT1Dnt" 4: 59
ONE SOUTH POINTE ~VIEt>l 2 r I
MIAMI BEACH, FLORID~\?~12(Eg\\,S OFFICE
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May 30, 1997
The City of Miami Beach
1700 Convention Center Drive
Miami Beach, Florida 33139
Attn: City Manager and
City Attorney
Miami Beach Redevelopment Agency
1700 Convention Center Drive
Miami Beach, Florida 33139
Attn: Executive Director and
General Counsel
Re: Notice of Extension under that certain Agreement (the "1995 Development
Agreement") dated May 7, 1995 by and among the City of Miami Beach,
Florida ("City"), the Miami Beach Redevelopment Agency
("Redevelopment Agency") and those certain eight entities referred to as
the "Portofino Entities" as defined in the Agreement (the "Portofino
Entities"). Unless otherwise defined, aU initial capitalized terms as used in
this letter shall have the same definition and meaning as given to them in
the 1995 Development Agreement.
Ladies and Gentlemen:
This letter shall serve as formal written notice to you that the Approval Period as
provided in paragraph 5.1 of the 1995 Development Agreement will currently expire
offective as of June 7, 1997, pursuant to that certain letter from the undersigned to you
dated May 6, 1997,
At this time, because the Final Approvals are still pending public hearings which
arc expected to take place June 9 and June 19 1997 West Side and East Coastline on
behalf of all of the Portofino Entities hereby, ~ursu;nt to such paragraph 5.1, elect to
fiuther extend the Approval Period for thirteen (13) additional days (i.e., until June 20,
.997). In the event the Final Approvals have not been obtained by June 20, 1997, then
eat Side and East Coastline pursuant to paragraph 5.1 shall have the right to: (i) further
d the Approval Period in accordance with paragraph 5.1, (ii) terminate the
'"
,
City of Miami Beach .
Miami Beach Redevelopment Agency
May 30, 1997
Page 2
Agreement as provided therein, or (iii) waive the requirement of obtaining the required
Final Approvals.
Sincerely,
. .. WEST SIDE PARTNERS, LTD., a
Florida limited partnership
By: West Side Partners, Inc., a
Florida corporation, General
p~
By: ~'(~
Heinrich Hanau,
Vice President
EAST COASTLINE DEVELOPMENT,
L TD., a Florida limited partnership
By: East Coastline, Inc., a Florida
corporation, General Partner
BY~~~
Heinrich Hanau,
Vice President
cc: The Tallahassee Building Corp.
Eckert, Seamans, Cherin & Mellott
Attention: Carter McDowell, Esquire
City of Miami Beach Housing Authority
City Clerk