R7I - Approve Farrey Lane Air Rights Easement

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, ACCEPTING THE RECOMMENDATION OF THE FINANCE AND ECONOMIC RESILIENCY COMMITTEE, AT ITS JUNE 28, 2024 MEETING, AND APPROVING, ON FIRST READING, AN AIR RIGHTS EASEMENT PURSUANT TO SECTION 82-37(A)(2) OF THE CITY CODE TO MMS 7 FARREY, LLC (AS TO 50%) AND FARREY LN DG MASTER PLAN, LLC (50%), AS TENANTS IN COMMON (GRANTEES), FOR USE OF A 20 FOOT AERIAL EASEMENT OVER A PORTION OF THE FARREY LANE RIGHT-OF-WAY (EASEMENT AREA) ADJACENT TO THE PROPERTIES OWNED BY GRANTEES, LOCATED AT 6 FARREY LANE AND 7 FARREY LANE (GRANTEES’ PARCELS), SO THAT GRANTEES MAY CONSTRUCT A UNIFIED, MULTILEVEL SINGLE-FAMILY HOME, UTILIZING THE EASEMENT AREA AS A SKYBRIDGE BETWEEN GRANTEES’ PARCELS FOR THE CONSTRUCTION OF THREE HABITABLE CONNECTING FLOORS; SAID EASEMENT AREA CONSISTING OF A BASE ELEVATION OF 17.12 FEET ABOVE THE GRADE SURFACE OF FARREY LANE TO AN UPPER LIMIT ELEVATION OF 65.56 FEET, HAVING APPROXIMATELY 36,301 CUBIC FEET OF AIR RIGHTS BETWEEN THE ELEVATIONS, AS MORE PARTICULARLY DESCRIBED IN THE SKETCH AND LEGAL DESCRIPTION ATTACHED TO THIS RESOLUTION AS EXHIBIT “A”, SUBJECT TO AND CONDITIONED UPON GRANTEES (1) SECURING ALL LAND USE DEVELOPMENT APPROVALS AND OTHER REQUIRED REGULATORY APPROVALS; AND (2) DELIVERING TO THE CITY OF A VOLUNTARY MONETARY PUBLIC BENEFIT IN THE AMOUNT OF $803,250.00; FURTHER, WAIVING, BY 5/7TH VOTE, THE FORMAL COMPETITIVE BIDDING REQUIREMENTS OF SECTION 82-39(A) OF THE CITY CODE, FINDING THAT THE PUBLIC INTEREST WOULD BE SERVED BY WAIVING SUCH CONDITION; FURTHER, AUTHORIZING THE CITY MANAGER TO NEGOTIATE AN EASEMENT AGREEMENT WITH GRANTEES, SUBJECT TO APPROVAL BY THE CITY COMMISSION; AND FURTHER SETTING THE PUBLIC HEARING FOR THE SECOND AND FINAL READING OF THE RESOLUTION, ON NOVEMBER 20, 2024.