212-95 RDA
RESOLUTION NO.
212-95
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY ("RDA")
PROVIDING THAT LINCOLN ROAD CINEMA. LTD. ("LRC")
SHALL PRESENT TO THE RDA BOARD. NO LATER THAN
SEPTEMBER 13, 1995, A CONCEPT AGREEMENT
PERTAINING TO THE LINCOLN ROAD MOVIE THEATER
PROJECT WHICH IS ACCEPTABLE TO THE RDA, THE
CITY OF MIAMI BEACH AND LRC OR, IF NOT
ACCEPTABLE, PROVIDING THAT THE RDA BOARD WILL
CONSIDER TERMINATING NEGOTIATIONS WITH LRC.
WHEREAS, in July of 1994, the Miami Beach Redevelopment Agency ("ROA")
Board ranked individuals and entities comprising Lincoln Road Cinema, Ltd. ("LRC") as
the number one bidder in response to the Lincoln Road Movie Theater Request for
Proposals; and
WHEREAS. the RDA has been engaged in negotiations with LRC relating to a
proposed Lincoln Road Movie Theater Concept Agreement (the "Agreement") to develop
the movie theater and retail complex proposed in the bid; and
WHEREAS, the ROA and LRC have been unable to conclude their negotiations on
the Agreement in time to present the Agreement for a vote by the ROA on July 26, 1995;
and
WHEREAS. approximately one year has elapsed since selection of the number one
bidder by the ROA Board; and
WHEREAS, the ROA has given considerable flexibility to LRC in terms of timing,
bidding irregularities and allowable modifications; and
WHEREAS, LRC has requested additional time to attempt to arrive at an agreement
acceptable to the RDA, the City and LRC.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY ("RDA") that Lincoln
Road Cinema, Ltd. ("LRC") shall present to the RDA Board no later than September 13,
1995 a concept agreement pertaining to the Lincoln Road Movie Theater project
acceptable to the RDA, the City of Miami Beach and LRC or, if not acceptable, providing
that the RDA will consider terminating negotiations with LRC.
PASSED and ADOPTED this
,1995.
ATTEST:
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FORM APPROVED
REDEVELOPMENT AGENCY
GENERAL COUNSEL
By
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Date
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