2007-26470 ResoRESOLUTION NO. 2007-26470
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, APPROVING, ON FIRST
READING, AND AUTHORIZING THE MAYOR AND CITY CLERK
TO EXECUTE A FIRST AMENDMENT TO THE DEVELOPMENT
AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND AR&J
SOBE, LLC, DATED MAY 18, 2005, FOR THE DEVELOPMENT OF
THE PROJECT PRESENTLY REFERRED TO AS "5T" AND
ALTON"; SAID AMENDMENT EXTENDING THE DEFINITION OF
THE TERM "OUTSIDE DATE", AS SAID TERM IS DEFINED BY
THE DEVELOPMENT AGREEMENT, FROM EIGHTEEN (18)
MONTHS FOLLOWING THE EFFECTIVE DATE OF THE
DEVELOPMENT AGREEMENT (WHICH WAS MAY 18, 2005), TO
DECEMBER 4, 2007.
WHEREAS, AR&J Sobe, LLC (Developer) intends to construct the project known as the
"Fifth and Alton" Project, contemplated to be a multi-level commercial building to be used for
supermarket/retail/restaurant space and its appurtenances, and a parking garage on property
bounded on the North by 6`h Street; on the South by 5'h Street; on the West by Alton Road; and on
the East by Lenox Avenue (the Project); and
WHEREAS, said Project is contemplated to contain approximately 179,000 square feet of
commercial space, including an approximately 45,000 square foot supermarket, transit elements,
and a parking garage with approximately 1,100 parking spaces; and
WHEREAS, on May 18, 2005, the Mayor and City Commission adopted Resolution No.
2005-25899, approving, on second and final reading, a DevelopmentAgreementwith Developerfor
design, development and construction of the Project; and
WHEREAS, on February 23, 2005, prior to approval of the Development Agreement, but as
a component of the Project, and inconsideration of the public benefits being provided by Developer
with respect to development of the Project, the Mayor and City Commission adopted Resolution No.
2005-25827, approving a Vacation Agreement, authorizing the vacation of the City's rights to an
alley located adjacent to the proposed Project (the Alley); and
WHEREAS, the Vacation Agreement contains reverter and/or reconveyance provisions in
the event Developer does not enter into a supermarket lease on or before eighteen (18) months
after the effective date of the Vacation Agreement (which is February 23, 2005), or in the event
Developer does not Commence Construction (as said term is defined in the Development
Agreement) of the Project on or before September 1, 2006; and
WHEREAS, on July 12, 2006, the Mayor and City Commission adopted Resolution No.
2006-26246, approving Amendment No. 1 to the Vacation Agreement; said Amendment providing
for uniformity of dates in the Vacation Agreement to coincide with the dates in the Development
Agreement, with respect to the Developer's deadline within which to execute a supermarket lease
for the Project, and for commencement of construction of the Project; and
WHEREAS, the Development Agreement also contains provisions that require Developer to
have executed a lease for the proposed supermarket on or before the "Outside Date" (which was
November 18, 2006), and commence construction of the Project prior to March 1, 2007; and
WHEREAS, the "Outside Date" (i.e. November 18, 2006) also affords Developer the
opportunity to exercise a right of termination of the Development Agreement, without liability, and/or
further obligation; and
WHEREAS, in an effort to continue moving forward with the Project, but in light of the
impending "Outside Date" deadline, on November 3, 2006, the Developer made a written request to
the City Manager, requesting that an item be brought before the City Commission, requesting an
amendment to the Development Agreement for the purpose of extending the "Outside Date; and
WHEREAS, Developer requested that the proposed Amendment be considered at an
emergency meeting of the City Commission, to be convened prior to November 12th; and
WHEREAS, in light of the intervening elections, Developer was advised by the City
Administration that the earliest date at which its request for an extension of the "Outside Date" (and
the corresponding Amendment to the Development Agreement) could be heard by the City
Commission was at its meeting on December 6, 2006; and
WHEREAS, it should be noted that Developer has obtained cone-year extension of time
from the Historic Preservation Board and the Design Review Board to obtain its building permit for
the Project; and
WHEREAS, said extension expires on February 17, 2007; and
WHEREAS, accordingly, a duly noticed public hearing to consider the proposed First
Amendment to Development Agreement was duly noticed for first reading on December 6, 2006;
and
WHEREAS, the Administration is hereby recommending that the "Outside Date", as defined
in the Agreement, be extended to December 4, 2007 which, as stated, is the last date of Developer's
Design Review Board approval; and
WHEREAS, the Administration is hereby recommending that the "Default Date", as defined
in the Agreement, be extended to December 5, 2009; and
WHEREAS, the proposed First Amendment to Development Agreement would provide for
uniformity of deadlines in the Development Agreement to conform with the expiration of the Project's
development orders from the Historic Preservation and Design Review Boards.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby approve,
on first reading, a First Amendment to the Development Agreement between the City of Miami
Beach and AR&J Sobe, LLC, dated May 18, 2005, for the development of the Project currently
referred to as "Fifth and Alton"; said Amendment extendin he definition of the term "Outside Date",
as said term is defined by the Development Agreement and extQfiding said date to December 4,
2007. //
PASSED and ADOPTED this 14th da~/of Fe
TEST:
CITY CLERK Robert Parcher
F:\atto\AGUR\RESOS-ORD\Potamkin - 1st Amendment to Dev. Anr
i;,~I~AAYOR David
Reading).doc
APPROVED AS TO
De- r~~RM & LANGUAGE
FO ELUTION
--/!--
ity Attorney Date
OFFICE OF THE CITY ATTORNEY, Jose Smith, City Attorney
Interoffice Memorandum
To: Bob Parcher
City Clerk
From: Raul J. Aguil ~,
First Assists it Attorney
Date: July 11, 2007
Subject: Resolution Nos. 2007-26470 and 2007-26492 (First Amendment to 5th and
Alton Development Agreement-First and Second Reading)
Bob:
There were scrivener's errors on the two (2) Whereas clauses at the end of the above
Resolutions regarding the "Outside Date" and "Default Date", as respectively defined in
the Reso. I have made the corrections and have re-form approved the Resolutions.
Accordingly, please have them re-executed by the Mayor and City Clerk and replace for
your files.
cc: Tim Hemstreet, Assistant City Attorney
Kevin Crowder, Economic Development Director
COMMISSION ITEM SUMMARY
I•
Condensed Title:
A Resolution approving Amendment One to the Development Agreement between the City and AR&J
Sobe, LLC, for the project known as "Fifth and Alton.' ; and, A Resolution approving Amendment Two
to the Alley Vacation Agreement between the City and AR&J Sobe, LLC, dated February 23, 2005.
Ke Intended Outcome Su orted:
Increase parking opportunities and enhance resident satisfaction with commercial service options.
Issue:
Shall the Mayor and City Commission approve amendments to the Development Agreement and Alley
Vacation Agreement, extending the date by which the developer must obtain a building permit until
February 17, 2007, and extending the Outside Date (the date by which the Developer must obtain a
Supermarket Lease and Commence Construction) until December 4, 2007?
Item Summary/Recommendation:
On May 16, 2005, the Mayor and City Commission adopted Resolution No. 2005-25899, approving a
Development Agreement between the City of Miami Beach and AR&J Sobe, LLC, for the development of
Fifth and Alton, a vertical retail center and parking garage.
The project received approval from the Design Review Board and Historic Preservation Board on
August 17, 2004, which were due to expire on February 17, 2006. The Developer obtained an one-
yearextension of time to obtain a building permit from the Boards. This one-time extension will expire
on February 17, 2007. This amendment will have the effect of conforming the deadlines for obtaining
a building permit of the Development Agreement, Alley Vacation Agreement, Design Review Board
approval, and Historic Preservation Board approval.
On January 10, 2007, the Finance and Citywide Projects Committee discussed the proposed amendments
to the Development Agreement and Alley Vacation Agreement, as well as a discussion on the increasing
construction costs. The Committee recommended that the Administration present the first reading of the
amendments related to the extension of dates to the City Commission at the February 14th, 2007
Commission meeting, and negotiate a new price per parking space with the Developer.
~ The Administration recommends that the Mayor and City Commission adopt the resolutions. I
Adviso Board Recommendation:
Finance and Cit ide Pro~ects, Janua 10, 2007
Financial Information:
Source of Amount Account Approved
Funds: ~
N/A 2
3
4
OBPI Total
Financial Im act Summa
Cit Clerk's Office Le islative Trackin
Kevin Crowder, Economic Development, xt. 6186
Sign-Offs:
M I AM I B EAC H r AGENDA ITEM I `~ ~
DATE
m MIAMIBEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
COMMISSION MEMORANDUM
TO: Mayor David Dermer and Members of the City Commission
FROM: Jorge M. Gonzalez, City Manager
DATE: February 14, 2007
SUBJECT: RESOLUTIONS CONFORMING THE DATES OF THE FIFTH AND ALTON
DEVELOPMENT AGREEMENT AND ALLEY VACATION AGREEMENT.
#1 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, APPROVING AMENDMENT ONE TO THE
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF MIAMI BEACH AND
AR&J SORE, LLC, APPROVED ON MAY 18, 2005, FOR THE DEVELOPMENT
OF THE PROJECT PRESENTLY REFERRED TO AS "5T" AND ALTON"; SAID
AMENDMENT EXTENDING THE DEFINITION OF THE TERM "OUTSIDE DATE"
AS SAID TERM IS DEFINED BY THE DEVELOPMENT AGREEMENT, FROM
EIGHTEEN (18) MONTHS FOLLOWING THE EFFECTIVE DATE OF THE
DEVELOPMENT AGREEMENT (WHICH WAS MAY 18, 2005), TO DECEMBER
4, 2007.
#2 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, AMENDING THE ALLEY VACATION AGREEMENT
BETWEEN THE CITY OF MIAMI BEACH AND AR&J SOBE, LLC, APPROVED
ON FEBRUARY 23, 2005.
ADMINISTRATION RECOMMENDATION
Adopt the Resolutions.
ANALYSIS
On February 23, 2005, in consideration of the public benefits being provided by AR&J Sobe
(Developer), the Mayor and City Commission adopted Resolution No. 2005-25827,
approving and authorizing the vacation of an alley located adjacent to the proposed Fifth and
Alton development project.
The vacation agreement is subject to the following reverterand/or reconveyance provisions:
(i) In the event Developer does not enter into a supermarket lease (as defined in the
proposed Development Agreement) on or before eighteen (18) months after the
Effective Date of the Vacation Agreement or Construction Commencement, as
defined therein, whichever comes first;
(ii) In the event Developer does not Commence Construction of the Project on or
before September 1, 2006;
Commission Memorandum - ARBJ Sobe Development Agreement
February 14, 2007
Page 2 of 4
(iii) In the event the Project is substantially modified from the Project approved by
the Historic Preservation Board and Design Review Board, as referenced in the
respective Board Orders issued in August 2004;
On May 16, 2005, the Mayor and City Commission adopted Resolution No. 2005-25899,
approving a Development Agreement between the City of Miami Beach and AR&J Sobe,
LLC, for the development of Fifth and Alton, a vertical retail center and parking garage.
The Development Agreement defines "Outside Date" as the date which is eighteen (18)
months after the Effective Date (May 18, 2005), or the Construction Commencement Date,
whichever shall first occur. The Development Agreement further specifies terms underwhich
the City may terminate the agreement, which include:
(i) Developer has not obtained a Building Permit for the project on or before
the Outside Date (November 18, 2006);
(ii) Developer has not Commenced Construction of the Project on or before
March 1, 2007;
(iii) City determines that the project and the public purposes to be derived from
it render the project unfeasible or unwarranted;
(iv) Developer has not obtained the fully executed Grocery Lease required by
Article 15 of the Development Agreement and delivered a copy thereof to
the City on or before the Outside Date.
On July 12, 2006, the Mayor and City Commission approved Resolution No. 2006-26246,
amending the Alley Vacation Agreement between the City and the Developer, conforming
the deadline dates for execution of the grocery lease and construction commencement to
the dates specified in the Development Agreement.
On November 3, 2006, the Developer sent a letter to the City Manager requesting an
emergency meeting of the City Commission prior to November 18, 2006, in order to consider
an Amendment to the Development Agreement, which would effectively extend the "Outside
Date". The "Outside Date" is not only the date that ends the Developer's Right of
Termination; it also triggers the City's Right of Termination as well as the automatic reverter
of the Alley back to the City.
As an alternative that the City Commission hold a meeting prior to the Outside Date, on
November 9, 2006, the Administration agreed to stay any action by the City under the
Development Agreement and Vacation Agreement until the December 6, 2006 City
Commission meeting, due to the fact that the Miami Beach City Code prohibits the City
Commission from taking any official action prior to certification of final election returns. The
"stay' was also subject to the Developer's agreement to stay its right to terminate the
Development Agreement, pending consideration of the proposed Amendment on December
6, 2006; and the Developer's agreement that any and all rights that the City may have to
terminate the Development Agreement and the automatic reverter of the Alley may be
exercised should the Mayor and City Commission not approve the proposed Amendment on
December 6. This alternative was transmitted to the Developer by the City Attorney's Office
on November 9, 2006, and agreed to by the Developer and transmitted to the City on
November 15, 2006.
On November 20, 2006, the City received a letter from the Developer, formally requesting an
extension of all key performance dates until December 4, 2007. In this letter, the Developer
Commission Memorandum - ARBJ Sobe Development Agreement
February 14, 2007
Page 3 of 4
identified various factors that are contributing to the delay in the commencement of
construction, including, but not limited to, environmental issues related to the Brownfield
cleanup, rapidly escalating construction costs, and the "lengthy process of renegotiating
tenant commitments and leases to reflect the economic realities of the very significant rise in
construction costs."
Design Review and Historic Preservation Board Approvals
The project received approval from the Design Review Board (DRB) and Historic
Preservation Board (HPB) on August 17, 2004, which were due to expire on February 17,
2006. The Developer obtained cone-year extension of time to obtain a building permit from
the Boards. This one-time extension will expire on February 17, 2007. Following discussions
between the Administration and the Developer, both parties agreed to present the City
Commission with an amendment to the DevelopmentAgreement thatwill extend the date for
obtaining a building permit to February 17, 2007. This amendment will have the effect of
conforming the deadlines for obtaining a building permit in the Development Agreement,
Alley Vacation Agreement, DRB order, and HPB order.
In the case that a building permit has not been obtained by the Developer prior to February
17, 2007, the Board approvals will expire and the Developer must resubmit the project for
approval by the HPB and DRB Boards. Due to recent changes to the City Code, the
Developer would have to appear before the Planning Board for Conditional Use approval
prior to resubmission to the DRB and HPB.
In the event the Project is substantially modified from the project originally approved by the
Historic Preservation Board and Design Review Board, the Alley will revert back to the City,
pursuant to the Vacation Agreement.
Finance Committee Recommendation
In response to the Developer's request for and extension until December 4, 2007, and in
light of the pending expiration of the HPB and DRB approvals, the Administration
recommends February 17, 2007 as the appropriate amended date for the Developer to
secure a building permit for the project. In addition, the Developer requested that the
deadlines for obtaining a supermarket lease and for commencing construction be extended
until December 4, 2007. The "Outside Date," which is a "trigger" point for either party to
exercise its rights to terminate the Development Agreement, is also proposed to be
extended to December 4th, 2007.
On January 10, 2007, the Finance and Citywide Projects Committee discussed the proposed
amendments to the Development Agreement and Alley Vacation Agreement, as well as a
discussion on the increasing construction costs. The Committee recommended that the
Administration present the first reading of the amendments related to the extension of dates
to the City Commission at the February 14th, 2007 Commission meeting, and negotiate a
new price per parking space with the Developer.
The effect of the attached Resolutions is described below. The first of the two Resolutions
amends the Development Agreement, to require that the Developer obtain a building permit
on or before February 17, 2007, and extends the deadline for Construction Commencement
and a Supermarket Lease until December4, 2007. The second Resolution amends the Alley
Vacation Agreement to conform the deadlines for Construction Commencement and the
Commission Memorandum - ARBJ Sobe Development Agreement
February 14, 2007
Page 4 of 4
Supermarket Lease to the new amended dates in the Development Agreement.
Effect of Proposed Changes
If approved by the Mayor and City Commission, the proposed amendments will have the
following effects:
• If the Developer has not obtained a Building Permit on or before February 17, 2007,
the City may terminate the Development Agreement; and
• If the Developer has not commenced construction on or before December 4, 2007
the City may terminate the Development Agreement and the Alley will revert back to
the City; and
• If the Developer has not obtained the fully executed Grocery Lease required by
Article 15 and delivered a copy thereof to the City on or before December 4, 2007,
the City may terminate the Development Agreement and the Alley reverts back to the
City pursuant to the Vacation Agreement; or
• The Developer may terminate the agreement prior to December 4, 2007, by
delivering written notice to the City. The Developer's right of termination pursuant to
Section 2.11 of the Development Agreement shall expire and before void if not
exercised prior to the Outside Date (proposed to be December 4, 2007).
CONCLUSION
The Administration recommends that the Mayor and City Commission hold the public
hearing and approve the proposed amendment to the Development Agreement on first
reading, extending the date by which the Developer must obtain a building permit until
February 17, 2007, and extending the Outside Date, as defined in the Development
Agreement, until December 4, 2007.
JMG/TH/kc
Exhibit A -Proposed Amendment to the Development Agreement
Exhibit B -Proposed Amendment to the Alley Vacation Agreement
T:\AGENDA\2006\dec0606\Regular\Potamkin Amendment.doc
FIRST AMENDMENT
TO THE DEVELOPMENT AGREEMENT
BETWEEN
THE CITY OF MIAMI BEACH, FLORIDA
AND
AR&J SOBE, LLC
DATED MAY 18, 2005
This First Amendment to the Development Agreement made and entered this
day of , 2007, by and between the CITY OF MIAMI BEACH, a
Municipal Corporation existing under the laws of the State of Florida, having its
principal offices at 1700 Convention Center Drive, Miami Beach, Florida 33139
(hereinafter referred to as CITY), and AR&J SOBE, LLC., a Florida limited liability
company having offices at 2665 South Bayshore Drive, Suite 1200, Coconut
Grove, FL 33133 (hereinafter referred to as DEVELOPER).
RECITALS
A. AR&J Sobe, LLC (Developer) anticipates constructing a
project on the land bordered by 5`h Street, 6`h Street, Alton
Road and Lenox Avenue, (which includes the Alley, as
defined below) containing a grocery store and other retail,
commercial, office and/or restaurant uses and parking
garage (the Project).
B. On February 23, 2005, in consideration of the public
benefits provided by Developer, the Mayor and City
Commission adopted Resolution No. 2005-25827,
approving and authorizing the vacation of the City's rights
to an alley located within to the proposed Project (the
Alley).
C. Developer and City agreed to the terms and conditions for
vacating the Alley; Resolution No. 2005-25827 also
approved and authorized the parties to execute a Vacation
Agreement.
D. On May 18, 2005, in consideration of the public benefits
provided by Developer, the Mayor and City Commission
adopted Resolution No. 2005-25899, approving and
authorizing a Development Agreement for the Project by
and between the City and Developer.
E. On July 12, 2006, the Mayor and City Commission
approved Amendment No. - 1 to the Alley Vacation
Agreement, said amendment providing for uniformity of
dates in the Vacation Agreement to coincide with the dates
in the Development Agreement, with respect to the
Developer's deadline within which to execute a
supermarket lease for the Project and for commencement
of construction of the Project.
F. City and Developer now wish to hereby amend the terms
of the Development Agreement to extend certain dates in
said Agreement for Developer's obligations with respect to
entering into the supermarket lease, commencement of
construction and completion of the Project, and also dates
affecting the parties' respective rights and obligations with
respect to the default and termination provisions therein.
G. On February 14, 2007, the Mayor and City Commission
approved Amendment No. 2 to the Vacation Agreement,
said amendment further providing for further extensions in
the Vacation Agreement to coincide with the dates in the
Development Agreement, with respect to the Developer's
deadline within which to execute the supermarket lease
and for commencement of construction of the Project.
H. Developer has obtained cone-year extension to obtain a
building permit from the Historic Preservation and Design
Review Boards, said extension expiring on February 17,
2007.
NOW, THEREFORE, the parties hereto, and in consideration of the mutual
promises, covenants, agreements, terms, and conditions herein contained, and
other good and valuable consideration, the respect and adequacy are hereby
acknowledged, do agree as follows:
1. ABOVE RECITALS.
The above recitals are true and correct and are incorporated as a part of
this Amendment No. 1.
2. MODIFICATIONS.
A. The following terms in Article 1, entitled "Definitions," of the
Development Agreement is amended as follows:
"Completion Deadline" means December 4, 2009, t';c vu~ +~s
A~+t-'f ,
294°r-botR subject to a day for day extension by reason of
Unavoidable Delays.
"Construction Commencement Date" has the meaning provided in
Section- 2.7, and which date shall, in no event be later than
December 4. 2007.
"Default Date" means the date that is twenty-four (24) months and
one day after the Construction Commencement Date or "".o,~-~
2~8~ December 5. 2009, whichever occurs first, but subject to a
day for day extension ~^ °~^" ^^c° for delays due to Unavoidable
Delays.
"Outside Date" means +h° rln+n ~~ih~nh ]c+ ninh+°nn /'I Q\ mnn+hc 4f}o~
FF ^~' .... ... ..., ..., ., ..,~.~.....~. ~...,~~~~....~...,
the-€ticGtl~~rl~_~- +hn (~nnc+rv in+inn (~nmm°nn°mnn+ ~'1°#.+'
December 4, 2007.
B. Article 2, Section 2.7, entitled "Commencement and Completion of
Construction of the Project", of the Development Agreement is amended
as follows:
Developer shall at its expense ta7 Commence Construction on or
before December 4, 2007, by whic~ ~ date s+- '' after t~,e lair ~;
(i) all Permits and Approvals necessary for the Commencement of
Construction shall have been issued and Developer's construction loan
has been closed (all of which Developer shall pursue diligently and in
good faith), and (ii) all conditions precedent set forth in Section 2.6 shall
have been satisfied;. {~) tThereafter, (i) Developer shall continue to
prosecute Construction of the Project with diligence and continuity to
completion; and (Eii) achieve Substantial Completion of the entire Project
on or before the Completion Deadline. Promptly after Commencement of
Construction, City and Developer shall enter into an agreement
acknowledging the date upon which Commencement of Construction
occurred (the "Construction Commencement Date"). Subject to any right
of Developer to terminate this Development Agreement as herein
provided, if, after Developer has Commenced Construction, Developer
fails to diligently prosecute Construction of the Project (subject to
Unavoidable Delays), and such failure continues (subject to Unavoidable
Delays) for thirty (30) consecutive days after Developer's receipt of notice
of such failure, City shall, in addition to all of its other remedies under this
Agreement or at law or in equity, have the right to seek such equitable
relief (either mandatory or injunctive in nature, including specific
performance) as may be necessary to cause diligent and continuous
prosecution of Construction of the Project (subject to Unavoidable Delays)
by Developer.
C. Article 2, Section 2.12, entitled "Developer's Right of Termination,"
of the Development Agreement is amended as follows:
Section 2.12 City's Right of Termination.
Notwithstanding anything to the contrary contained herein, City shall
have the right to be released from its liability and obligations and
to terminate this Development Agreement if for any reason; (a)
Developer has not obtained a Building Permit for the Project on or
before *h° n„+r.iran n-.+°February 17, 2007; or (b) Developer has
not Commenced Construction of the Project on or before ~Aa~#-1;
~7 December 4, 2007; 9{--~1-Sit~~ie its--sea° ^'i~,~.
~n}ormin°c }h~} th~ ~rninn~t ~nr1 }h° n hl'n i rnncnc 4 h .~ .J
.., ~..,...., ~ ~v
frem it .rn^~°r +hn Drninn+ 4~nf°n.°.+~viv° vi '~ " ^rr~+n+nr1 'n I~nh+ f +h
. ,...,... , , ..,.,.,, u
Anrn°mnn+ nr (dc) Developer has not obtained the fully executed
Grocery Lease required by Article 15 of this Agreement and
d~e~, Ali{verredna copy thereof to City on or before December 4, 2007t#e
bid l~itl e-.trC}te• ~r /°\ ('~}~i in i}c cnln rl' nr°+' °I°n} +4n
v~re}e~.
3. OTHER PROVISIONS.
All other provisions of the Agreement, as amended, are unchanged.
4. DEFINED TERMS.
Capitalized terms shall have the same meaning as set forth in the
Agreement unless otherwise defined herein.
5. RATIFICATION.
The City and Developer ratify the terms of the Development Agreement,
as amended by this First Amendment.
IN WITNESS WHEREOF, the parties hereto have caused this
Amendment No. 1 to be executed in their names by their duly authorized officials
as of the date first set forth above.
ATTEST: CITY OF MIAMI BEACH
City Clerk
By
Mayor
ATTEST: DEVELOPER:
Signature
Print Name/Title
AR8~J SOBE PARTNERS, LLC
a Florida limited liability company, by
Berkowitz Limited Partnership, its manager
by Berkowitz, LLC, its general partner
By
Jeffrey L. Berkowitz, Manager
F:1atto1AGURWGREEMNTSth and Alton (Potamkin) - First Amendment to Dev. Agreement (Redline 2-5-07).doc
APPROVED AS TO
FORM & LANGUAGE
& FORE ~CUTiON
z P o'1
A me t a ~, :` ~~ D to