R7B-Approve Development Agreement w- 8701 Collins Development LLCR7 - Resolutions
R7B A Resolution To Consider Approval, Following First Reading/Public Hearing Of A
Development Agreement As Authorized Under Section 118-4 Of The City Code, And
Sections 163.3220 - 163.3243, Florida Statutes, Between The City And 8701 Collins
Development, LLC ("8701"), Which Development Agreement: (1) Memorializes The
Conditions For Vacating The City's Right Of Way At 87th Terrace East Of Collins Avenue
("City Parcel"); (2) Grants To The City A Perpetual Pedestrian Access Easement Across
A Portion Of The Vacated City Parcel; (3) Ensures The Payment Terms For 8701's
Payment Of A Voluntary Monetary Contribution, ln The Amount Of $10.5 Million Dollars,
To Be Used By The City For Public Purposes; (4) Delineates The Conditions For The
Construction Of The Project Located At 8701 Collins Avenue As A Hotel And/Or
Residential Condominium Site; And (5) Subject To And Contingent Upon 8701's
Satisfaction Of The Conditions Set Forth ln The Development Agreement; And Further
Setting The Second And Final Reading Of The Development Agreement For A Time
Certain. 11:00 a.m. Public Hearinq
(City Attorney's Office)
(Memorandum & Resolution to be Submitted in Supplemental)
Agenda ltem RlR
Date l0'?2-lU446
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