C7B - Extend Convention Center Hotel Project

A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE CITY MANAGER TO EXTEND THE OUTSIDE POSSESSION DATE FOR UP TO SIXTY (60) DAYS FOR THE CONVENTION CENTER HOTEL PROJECT (THE "PROJECT") BEING DEVELOPED PURSUANT TO THE DEVELOPMENT AND GROUND LEASE AGREEMENT WITH MB MIXED USE INVESTMENT, LLC ("THE DEVELOPER"), TO THE EXTENT REASONABLY REQUIRED FOR THE DEVELOPER TO ACHIEVE FINANCIAL CLOSE.