Type of Reading
10:05 a.m. Second Reading Public Hearing
Type of Reading
First Reading PH on June 24, 2020 - R7 A
Marina Park Project - (1) Development Agreement, (2) Sale Of Property, (3) New Marina Lease, And (4) Vacation Of Right Of Way:
1. A Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Approving, Following Second Reading/public Hearing, A Development Agreement As Authorized Under Section 118-4 Of The City Code, And Sections 163.3220 – 163.3243, Florida Statutes, By And Among The City, Marina Park Residential, Llc And Marina Park Commercial, Llc (jointly And Severally, The “developer”), Which Development Agreement: (1) Delineates Conditions For The Development Of The City-owned Properties Located At 300-390 Alton Road, The Current Upland Site Of The Miami Beach Marina (folio Nos. 02-4203-009-9210, 02-4203-000-0010, And 02-4203-009-9250) (collectively, The “development Site”), With Such Development Site Limited To A Maximum Floor Area Of 319,802 Square Feet (of Which There Shall Be A Maximum Of Approximately 275,000 Square Feet For Residential Uses And Approximately 45,000 Square Feet For Retail, Restaurant, Office And Marina Uses), With The Building Constructed Thereon Limited To Up To 385 Feet In Height, With Up To 60 Residential Units, And Which Shall Include An At-grade Park Consisting Of At Least 1.0 Acres (the “marina Park Project”); (2) Memorializes The Conditions For The City’s Sale To Marina Park Residential, Llc Of The Portion Of The Development Site, And Air Parcel, Within Which The Approximately 275,000 Square Foot Residential Portion Of The Marina Park Project Is To Be Constructed (“sale Of Residential Parcel”), And The City’s Ninety-nine (99) Year Lease To Mb Marina Park, Llc, An Affiliate Of Suntex Marina Investors, Llc, Of The Development Site (excluding The Residential Parcel) And Associated Lease Of Submerged Lands For Marina Use (the “marina Lease” Or “new Lease”); (3) Memorializes Conditions For Vacating The Western Half Of The City’s Right-of-way At Alton Road Adjacent To The Development Site, Pursuant To Section 82-37 Of The City Code And Section 1.03(b)(4) Of The City Charter (collectively, The “city Right-of-way Area”); And (4) Provides For The Developer’s Design, Permitting, And Construction Of The Marina Park Project, Including Resiliency Enhancements And Other Capital Improvements, At Developer’s Sole Cost And Expense; Further, Authorizing The Mayor And City Clerk To Execute The Development Agreement, With The Foregoing Development Agreement Subject To And Contingent Upon Approval Of The Marina Lease And The Sale Of The Residential Parcel By A Majority Of The Voters Voting In A City-wide Referendum, Pursuant To Section 1.03(b)(1) Of The City Charter.
2. a Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Approving, Following Second Reading/public Hearing, Pursuant To Section 82-37(a)(2) Of The City Code, A Purchase And Sale Agreement (“psa”) Between The City Of Miami Beach (“city”) And Marina Park Residential, Llc (the “purchaser”), In Connection With The Proposed Development Of The Marina Park Project On The City-owned Properties Located At 300-390 Alton Road, The Current Upland Site Of The Miami Beach Marina (folio Nos. 02-4203-009-9210, 02-4203-000-0010, And 02-4203-009-9250) (collectively, The “development Site”), Which Psa Memorializes The Terms For The City’s Sale To The Purchaser Of A Portion Of The Development Site And A Parcel Of Air Located Above The Grade Surface Of The Development Site (the “residential Parcel”), For The Construction Of The Approximately 275,000 Square Foot Residential Portion Of The Marina Park Project, In Accordance With The Terms And Conditions Of The Development Agreement By And Among The City, Marina Park Residential, Llc And Marina Park Commercial, Llc, Approved Pursuant To City Commission Resolution No. 2020-______; With Such Psa And/or Related Agreements Providing, Among Other Terms, For (1) A Purchase Price In The Amount Of $55,000,000.00, Of Which $5,000,000 Is Payable To The City At Closing And The Balance Of Which Is Payable In Specified Installments, Evidenced By A Promissory Note And Secured By A First Mortgage On The Residential Parcel, In Favor Of The City; And (2) Additional Non-cash Consideration To The City In The Amount Of $22,500,000, For Specified Capital Improvements To Be Constructed On The Development Site, Which Additional Non-cash Consideration Is Set Forth In The Development Agreement And/or The Lease Agreement Between The City And Mb Marina Park, Llc, An Affiliate Of Suntex Marina Investors, Llc, Approved Pursuant To City Commission Resolution No. 2020-______; Further, Approving A Reciprocal Easement Agreement, Purchase Money Promissory Note, Purchase Money Mortgage, And Master Sublease Recognition Agreement Between The City And Marina Park Commercial, Llc, Each In Substantial Form, With Such Changes And Corrections As May Be Approved By The City Manager And The City Attorney, In Accordance With The Terms Of The Psa And Requirements Of This Resolution, And Authorizing The Mayor And City Clerk To Execute The Psa And Exhibits Thereto; Further, Waiving, By 5/7th Vote, The Competitive Bidding Requirement Of Section 82-39 Of The City Code, Finding That The Public Interest Would Be Served By Waiving Such Condition; And Further, Providing That The Sale Of The Residential Parcel Shall Be Subject To And Contingent Upon Approval By A Majority Of The Voters Voting In A City-wide Referendum, Pursuant To Section 1.03(b)(1) Of The City Charter.
3. a Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Approving, Following Second Reading/public Hearing, Pursuant To Section 82-37(a)(2) Of The City Code, A Lease Agreement (“lease”) Between The City Of Miami Beach (“city”) And Mb Marina Park, Llc, An Affiliate Of Suntex Marina Investors, Llc (the “lessee”), Of The City-owned Properties Located At 300-390 Alton Road, (folio Nos. 02-4203-009-9210, 02-4203-000-0010, And 02-4203-009-9250), An Approximately 3.51 Acre Site, More Particularly Described In This Resolution (the “leased Property”), For The Operation Of The Miami Beach Marina, Which Lease Shall Provide For: (1) The Construction Of A New Facility Of Approximately 45,000 Square Feet, For Retail, Restaurant, Office And Marina Uses, In Accordance With The Terms And Conditions Of The Lease And The Development Agreement By And Among City, Marina Park Residential, Llc And Marina Park Commercial, Llc For The Marina Park Project, Approved Pursuant To City Commission Resolution No. 2020-______ (“development Agreement”); (2) The City’s Sublease To The Lessee Of The Submerged Lands Area Leased To The City And Miami Beach Redevelopment Agency By The Board Of Trustees Of The Internal Improvements Trust Fund Of The State Of Florida, As May Be Amended (bot File No. 130765469) (“area 2”); (3) A Term Of Ninety-nine (99) Years, Commencing On January 1, 2022 And Expiring December 31, 2120; (4) Annual Rent To The City, Consisting Of The Greater Of Minimum Annual Guaranteed Rent Or A Fixed Percentage Of The Gross Revenues Of The Miami Beach Marina; And (5) Lessee’s Construction, At Its Sole Cost And Expense, Of Additional Capital Improvements In The Aggregate Amount Of $40 Million Within The First Thirty-five (35) Years Of The Lease; Further, Providing That The Lease Shall Be Subject To And Contingent Upon Approval By A Majority Of The Voters Voting In A City-wide Referendum Pursuant To Section 1.03(b)(1) Of The City Charter And The Closing On The Sale Of The Residential Parcel, As Contemplated In The Development Agreement And Related Agreements Attached As Exhibits Thereto; Further, Waiving, By 5/7th Vote, The Competitive Bidding Requirement Of Section 82-39 Of The City Code, Finding That The Public Interest Would Be Served By Waiving Such Requirement; And Further Authorizing The Mayor And City Clerk To Execute The Lease Upon The Satisfaction Of The Foregoing Conditions.
4. a Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Approving, Following Second Reading/public Hearing Of This Resolution, The Vacation Of The Western Half Of Alton Road Adjacent To The City-owned Properties Located At 300-390 Alton Road, The Current Upland Site Of The Miami Beach Marina (folio Nos. 02-4203-009-9210, 02-4203-000-0010, And 02-4203-009-9250) (the “development Site”), Which Area Proposed To Be Vacated Consists Of A Fifty (50) Foot Wide Right-of-way Containing 25,500 Square Feet In Total Lot Area (the “city Right-of-way Area”), In Favor Of The Abutting Property Owner, The City Of Miami Beach, Florida (the “city”), For The Purpose Of Including The City Right-of-way Area As Part Of The Unified Development Site For The Proposed Development Of The Development Site, Which Proposed Development Shall Be Limited To A Maximum Floor Area Of 319,802 Square Feet, And Shall Include Residential, Retail, Office, Restaurant And Marina Uses (the “marina Park Project”); Further, Providing That The Proposed Vacation Shall Be Conditioned Upon The City Commission’s Approval Of (1) A Development Agreement By And Among The City, Marina Park Residential, Llc And Marina Park Commercial, Llc (jointly And Severally, The “developer”), Which Agreement Shall Include The Terms And Conditions For The Design, Permitting And Construction Of The Marina Park Project, At The Developer’s Sole Cost And Expense, Including Resiliency And Other Capital Improvements; (2) The City’s Sale To Marina Park Residential, Llc Of The Portion Of The Development Site And Air Parcel Within Which The Approximately 275,000 Square Foot Residential Portion Of The Marina Park Project Is To Be Constructed (“residential Parcel”); And (3) The City’s Ninety-nine (99) Year Lease To Mb Marina Park, Llc, An Affiliate Of Suntex Marina Investors, Llc, Of The Development Site (excluding The Residential Parcel) And Associated Lease Of Submerged Lands For Marina Use (the “marina Lease”); Further, Providing That The Proposed Vacation Shall Be Subject To And Contingent Upon Approval Of The Marina Lease And The Sale Of The Residential Parcel By A Majority Of The Voters Voting In A City-wide Referendum, Pursuant To Section 1.03(b)(1) Of The City Charter, Among Other Conditions; And Further, Waiving, By 5/7th Vote, The Competitive Bidding Requirement, Pursuant To Section 82-39 Of The City Code, Finding Such Waiver To Be In The Best Interest Of The City.
