C7D - Extend Penrod Lease and Concession

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA APPROVING ON A 5/7TH VOTE, IN SUBSTANTIAL FORM, A FOURTH AMENDMENT (LEASE AMENDMENT) TO THE LEASE AGREEMENT (LEASE) DATED NOVEMBER 7, 1985 BY AND BETWEEN THE CITY AND PENROD BROTHERS, INC. (PENROD) AND A FIRST AMENDMENT (CONCESSION AMENDMENT) TO THE CONCESSION AGREEMENT (CONCESSION AGREEMENT) DATED FEBRUARY 25, 2005 BETWEEN THE CITY AND PENROD TO ALLOW FOR AN EXTENSION OF THE LEASE AND CONCESSION AGREEMENT THROUGH AUGUST 31, 2026 TO ACCOMMODATE THE TIMELY PREPARATION AND PRESENTATION TO THE MAYOR AND CITY COMMISSION AT ITS MAY 20, 2026 MEETING OF A SETTLEMENT AGREEMENT, DEFINITIVE LEASE AMENDMENT AND DEFINITIVE CONCESSION AGREEMENT AMENDMENT FOR APPROVAL; AND AUTHORIZING THE CITY MANAGER TO FINALIZE THE LEASE AMENDMENT AND THE CONCESSION AMENDMENT: AND FURTHER, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE LEASE AMENDMENT AND THE CONCESSION AMENDMENT.