83-17371
RESOLUTION NO. 83-17371
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF MIAMI BEACH AUTHORIZING THE EXTENSION
FROM JUNE 1, 1983 THROUGH JULY 20, 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
Construction Company needs additional time to
funds to construct this project; and
aware that Reynolds
secure the requisite
WHEREAS, the City Commission has determined that an extension
of the ti~e 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 June 1, 1983 up to and including July 20, 1983 ln
regard to the following time limi tat ions . 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 July 20, 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 July
20, 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 July 20, 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
.
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
condi tions 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
hereby approves of these extensions
author i zes the Mayor and Ci ty Clerk
providing for same.
the Ci ty of Miami Beach
as set forth herein and
to execute this Resolution
PASSED and ADOPTED this 1st day of June, 1983.
A~
- MAYOR _______
ATTEST:
-f JA~L :n..Oh~
CITY CLERK
APPROVED AS TO FORM:
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LEGAL DEP~T
DATED
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OFFICE OF THE CITY ATTORNEY. 1700 CONVENTION CENTER ORIVE . MIAMI BEACH. FLORIOA 33139