R7A - Amend Ocean Terrace Dev. Agreement

OCEAN TERRACE DEVELOPMENT AGREEMENT - AMENDMENT A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, APPROVING, FOLLOWING FIRST READING/PUBLIC HEARING, A FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT, DATED JULY 31, 2019, CURRENTLY AMONG THE CITY OF MIAMI BEACH ("CITY"), 7450 OCEAN TERRACE LLC, OCEAN TERRACE TRUSTEE LLC, OCEAN TERRACE RESIDENTIAL LLC, OCEAN TERRACE SHARED FACILITIES LLC, AND OCEAN TERRACE RETAIL LLC (COLLECTIVELY, "PROJECT DEVELOPER"), AND OTH STREETSCAPE, LLC ("PARK DEVELOPER"), FOR THE DEVELOPMENT OF THE OCEAN TERRACE PROPERTY, GENERALLY LOCATED AT 7409, 7421, 7433, 7435, 7437, 7439, 7441, AND 7449 COLLINS AVENUE, AND 7400, 7410, 7420, 7430, 7436, AND 7450 OCEAN TERRACE ("DEVELOPMENT SITE"), AS AUTHORIZED UNDER SECTION 2.11.1 OF THE MIAMI BEACH RESILIENCY CODE (FORMERLY SECTION 118-4 OF THE CITY CODE), AND SECTIONS 163.3220 — 163.3243, FLORIDA STATUTES, WHICH FIRST AMENDMENT ELIMINATES THE REQUIREMENT THAT THE PROJECT INCLUDE AT LEAST 75 HOTEL UNITS; AND FURTHER, SETTING THE SECOND AND FINAL READING/PUBLIC HEARING OF THE FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT FOR A TIME CERTAIN.