Incomplete 95-21470 REGULAR AGENDA - JANUARY 18. 1995
R-7. ~ (CONTINUED)
G. CO~e~ISSION MEMORANDUM NO. 65-95
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA,
AUTHORIZING THE ADMINISTRATION TO PROVIDE A LOAN TO THE MIAMI BEACH REDEVELOPMENT AGENCY
("AGENCY") PURSUANT TO THE PROMISSORY NOTE AND RATIFYING THE ACTIONS OF THE AGENCY IN
AUTHORIZING THE CHAIRMAN AND SECRETANY TO EXECUTE THE PROMISSORY NOTE, CONCERNING A LOAN
FROM THE CITY OF MIAMI BEACH, FLORIDA TO THE AGENCY IN THE AMOUNT OF $12 MILLION TO PAY
CERTAIN EXPENSES TO BE INCURRED BY THE AGENCY WIT~ RESPECT TO THE ACQUISITION OF THE ROYAL
PALM AND SHORECREST HOTELS, WHICH ARE REDEVELOPMENT PROJECTS WITHIN THE CITY LIMITS.
ADMINISTRATION RECO~4ENDATION: TEAT THE MAYOR AND CITY COMMISSION APPROVE THE RESOLUTION
AUTHORIZING THE LOAN OF UP TO $12 MILLION FROM THE CITY TO THE REDEVELOPMENT AGENCY FOR
THE ACQUISITION OF THE ROYAL PALM AND SHORECREST PROPERTY.
(FINANCE DEPARTMENT)
ACTION: Resolution No. 95-21469 adopted. ~
COMMISSION MEMORANDUM NO. 66-95
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA,
RATIFYING THE ACTIONS OF THE MIAMI BEACH REDEVELOPMENT AGENCY ("AGENCY") IN AUTHORIZING
THE CHAIRMAN, GENERAL COUNSEL AND SECRETARY TO EXECUTE THE SETTLEMENT AGREEMENT AND JOINT
MOTION FOR STIPULATED FINAL JUDGMENT RESOLVING THE CONDEMNATION SUIT AND PROVIDING FOR THE
PURCHASE BY THE AGENCY OF THE ROYAL PALM HOTEL, 1545 COLLINS AVENUE, MIAMI BEACH, FLORIDA,
WHICH PERTAINS TO A REDEVELOPMENT PROJECT WITHIN THE CITY LIMITS, AND AUTHORIZING THE
AGENCY TO TAKE ALL INCIDENTAL ACTIONS IN CONNECTION THEREWITH.
1. DRAFT SETTLEMENT AGREEMENT. (CITY ATTORNEY TO SUBMIT ANY CLARIFICATION VIA ADDENDUM)
RECOMMENDATION~ THE ADMINISTRATION AND CITY ATTORNEY RECOMMEND THAT THE MAYOR AND CITY
COMMISSION RATIFY THE ACTIONS OF THE MIAMI BEACH REDEVELOPMENT AGENCY AUTHORIZING THE
CHAIRMAN, GENERAL COUNSEL AND SECRETARY TO EXECUTE A SETTLEMENT AGREEMENT AND JOINT MOTION
FOR STIPULATED FINAL JUDGMENT TO RESOLVE THE CONDEMNATION SUIT AND TO PURCHASE THE ROYAL
PALM HOTEL, 1545 COLLINS AVENLTE, MIAMI BEACH, FLORIDA.
ACTION.' Resolution No. 95-21470 adopted.
J/~NUARy 18, 1995