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 Lease Agreement (“Lease”), as authorized under Section 82-37 of the City Code and Section 1.03(b)(4) of the City Charter, between the City of Miami Beach (“City”) and Community Finance Corporation, an Arizona not-for-profit corporation, or an affiliate thereof (“Lessee”), of the City-owned property located at 224 23rd street (the “Property”), for the construction of the Collins Park Artist Workforce Housing Project on the Property, a proposed development which shall include (1) up to eighty (80) residential workforce housing units, for artists, teachers, and other income-eligible tenants; (2) at least one residential dormitory floor, intended for use by Miami City Ballet, Inc. (the “Ballet”), to support the Miami City Ballet’s dance education and other programs or, if agreement with the Ballet cannot be reached, up to sixteen (16) additional workforce housing units; and (3) ground floor retail or cultural space (collectively, the “Project”); further, providing for the Project to be developed, designed, financed, constructed, and operated in accordance with the terms of the lease and the Development Agreement between the City and Servitas, LLC for the Project; and further providing for an initial term of fifty (50) years, with two (2) renewal terms, for a period of twenty (20) years each, on mutual agreement of the City and Lessee.
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