IN RE:
Approval of the Planning Board, by a 4/7ths vote, pursuant to City Charter Section 1.03(b)(4), and Section 118-51(11) of the City’s Land Development Regulations, of the proposed vacation of the western half of Alton Road, adjacent to the City-owned properties located at 300-400 Alton Road, the current upland site of the Miami Beach Marina (folio nos. 02-4203-009-9210, 02-4203-000-0010, and 02-4203-009-9250) (the “Miami Beach Marina Site”), which area proposed to be vacated consists of a fifty (50) foot wide Right-of-Way containing approximately 25,500 square feet in total lot area (the “City Right-of-Way Area”), in favor of the abutting property owner, the City of Miami Beach, Florida (the “City”), for the purpose of including the City Right-of-Way Area as part of the Unified Development Site for the proposed development of the Miami Beach Marina site, which proposed development shall be limited to a maximum Floor Area of approximately 320,000 square feet, and shall include residential, retail, office, restaurant and marina uses (the “Marina Park Project”); further, providing that the proposed vacation shall be conditioned upon the City Commission’s approval of (1) a Development Agreement between the City and Marina Park, LLC (or one or more affiliates thereof) (“Developer”), which agreement shall include the terms and conditions for the design, permitting and construction of the Marina Park Project, at the Developer’s sole cost and expense, including resiliency and other capital improvements; (2) the City’s sale to Marina Park, LLC (or an affiliate thereof) of the air parcel within which the approximately 275,000 square foot residential portion of the Marina Park Project is to be constructed (“Sale of Air Parcel”); and (3) the City’s 99 year lease to an affiliate of Suntex Marina investors, LLC, of the Miami Beach Marina Site (excluding the air parcel) and associated lease of submerged lands for marina use (the “Marina Lease”); further, providing that the proposed vacation shall be subject to and contingent upon approval of the Marina Lease and the Sale of Air Parcel by a majority of the voters voting in a City-wide referendum, pursuant to Section 1.03(b)(1) of the City Charter.
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