Loading...
83-17339 RESOLUTION NO. 83-17339 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF MIAMI BEACH AUTHORIZING THE EXTENSION FROM MAY 12, 1983 THROUGH JUNE 1, 1983 OF CERTAIN LIMITATIONS SET FORTH IN THE LEASE AND AGREEMENT FOR PRIVATE DEVELOPMENT BETWEEN THE CITY OF MIAMI BEACH AND REYNOLDS CONSTRUCTION COMPANY AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE SAME. WHEREAS, the City of Miami Beach is desirous of having a facility such as the proposed Miami Beach Convention Center Hotel Complex, the adjacent Retail and Office Complex, as described by the Lease and Agreement for Private Development (hereafter referred to as the "Agreement") , dated May 12, 1982 between Reynolds Construction Company and the City of Miami Beach; and WHEREAS, the developer since the May 12, 1982 Agreement was executed has been engaged in reviewing studies regarding the feasibility of the proposed project, establishing working groups on engineering and financing for the proposed project, and meeting with potential investors, lenders and operators for the project; and WHEREAS the City of Miami Beach is aware that Reynolds Construction Company needs additional time to secure the requisite funds to construct this project; and WHEREAS, the City Commission has determined that an extension of the time limitations set forth in the May 12, 1982 • Agreement should be granted to Reynolds Construction Company to effectuate the performance of the Agreement by securing the necessary financing to construct this proposed project, which project is in the best interest of the City of Miami Beach, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA: 1. That the City of Miami Beach hereby grants extensions commencing May 12, 1983 up to and including June 1, 1983 in regard to the following time limitations set forth below, which are contained in the Agreement dated May 12, 1982 between the City and Reynolds Construction Company; provided, however , that if Reynolds Construction Company does not secure the funds required by Section 7. 2 of the Agreement and notify the City that it has secured these funds on or before June 1, 1983, that all other extensions provided for by this Resolution shall have no force or effect and shall be deemed null and void. a. That Reynolds Construction Company is granted until June 1, 1983 pursuant to Section 7 . 2 of the Agreement to inform the City that it has secured sufficient funds to construct the first complexes; b. That Reynolds Construction Company is granted no later than twelve (12) months from June 1, 1983 to submit all Design Development Plans required by Section 4 . 3 of the Agreement; c. That Reynolds Construction Company is granted not more than one hundred eighty (180) days after the approval of the City of Design Development plans, pursuant to the extensions granted by this Resolution, to submit all contracts or sub-contracts for construction of improvements for the project as provided for in Section 4 .8 of the Agreement; OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE-MIAMI BEACH,FLORIDA 33139 r d. That Reynolds Construction Company is granted no later than six (6) months from the approval (s) of the Design Development Plans referred to in Section 4.8 of the Agreement to diligently prosecute to completion the development of the premises through the construction thereof as set forth in Section 4 .10 of the Agreement. e. That Reynolds Construction Company is granted not later than thirty (30) days to enter into a management contract for the hotel as set forth in Section 6 .1 of the Agreement, which thirty (30) days shall commence after Reynolds Construction Company has performed all conditions precedent to commencement of construction as required by Section 4.9 of the Agreement, all of which conditions shall be done not later than six (6) months from approval of the Design Development Plans and any changes thereto as required by the Agreement. 2. That the City Commission of the City of Miami Beach hereby approves of these extensions as set forth herein and authorizes the Mayor and City Clerk to execute this Resolution providing for same. PASSED and ADOPTED this 4th day of May, 1983. -<4;4f7 MAYOR ATTEST: CITY CLERK APPROVED AS TO FORM: LEGAL D PARTM DATED l y` lei `t) RESR/jhd 593C -2- OFFICE OF THE CITY ATTORNEY-1700 CONVENTION CENTER DRIVE -MIAMI BEACH,FLORIDA 33139