R7D - Amend West Avenue Development Agreement

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING, FOLLOWING FIRST READING/PUBLIC HEARING, THE FIRST AMENDMENT AND RESTATEMENT OF THE DEVELOPMENT AGREEMENT RECORDED IN OFFICIAL RECORD BOOK 34887, PAGE 3047 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA, AS AUTHORIZED UNDER SECTION 2.11.1 OF THE MIAMI BEACH RESILIENCY CODE, AND SECTIONS 163.3220 – 163.3243, FLORIDA STATUTES, BETWEEN THE CITY AND 1250 WEST AVE OWNER LLC AND WEST AVE HOSPITALITY OWNER, LLC (COLLECTIVELY THE “DEVELOPER”), WHICH FIRST AMENDMENT AND RESTATED DEVELOPMENT AGREEMENT MODIFIES THE TERMS AND CONDITIONS FOR THE DEVELOPMENT OF THE PROPERTY LOCATED AT 1250 WEST AVENUE (THE “DEVELOPMENT PROPERTY”) AND 1247 - 1255 WEST AVENUE AND 1234 13 STREET (THE “HOSTEL PROPERTY”) LOCATED IN MIAMI BEACH, FLORIDA CONSISTING OF THE FOLLOWING USES ON THE DEVELOPMENT PROPERTY: (1) A MAXIMUM OF 125 RESIDENTIAL UNITS, (2) GROUND FLOOR AND BASEMENT RETAIL/COMMERCIAL, AND (3) ACCESSORY USES; AS WELL AS (4) THE CONSTRUCTION OF A PUBLIC PARK OR OTHER PUBLIC USE ON THE HOSTEL PROPERTY (THE “PROJECT”); AND MODIFIES DEADLINES FOR CERTAIN PUBLIC BENEFIT COMMITMENTS MADE BY THE DEVELOPER, INCLUDING CONSTRUCTION OF CERTAIN BAYWALK SEGMENTS; AND CLARIFIES CERTAIN DEFINITIONS AND TERMS TO FACILITATE DEVELOPMENT OF THE PROJECT; AND FURTHER, SETTING THE DATE, TIME, AND PLACE FOR THE SECOND AND FINAL READING OF THE FIRST AMENDMENT AND RESTATED DEVELOPMENT AGREEMENT.