Approve development agreement for parking lot P27 with 1664 Meridian LLC

03(b) (2) of the city charter, a lease agreement (the “lease”) between the owned surface parking lot p27 (consisting of seven (7) tax folios: 02- 3234-007-0560, 02-3234-007-0570, 02-3234-007-0630, 02-3234-007-0640, 02-3234-007-0650, 02-3234-007-0660 and 02-3234-007-0670) located in miami beach, florida for the construction of a mixed-use development consisting of (1) class a office space, (2) ground floor retail, (3) residential rental apartments, (4) public parking to replace the existing public parking spaces on parking lot p27, and (5) additional parking to satisfy off- street parking requirements for the office and residential uses (the “project”); such lease being subject to and contingent upon approval by the city commission pursuant to section 82-37(a) and approval by a majority vote of the voters in a city-wide referendum pursuant to

03(b)(2) of the city charter; providing for the project to be developed, designed, financed, constructed, and operated in accordance with the terms of the lease and the development agreement for the project between the city and lessee, approved pursuant to resolution no. 2022-__________; and providing for a maximum term of ninety-nine (99) years, with an initial term of fifty-one (51) years, and two (2) renewal terms, for a period of twenty-four (24) years each, at the lessee’s option; and further, authorizing the city manager to finalize the lease and make any necessary non-substantive corrections to scrivener’s errors, subject to form approval by the city attorney, and further, authorizing the mayor and city clerk to execute the lease. 1:33 p.m. Second reading public hearing economic development first reading on june 22, 2022 - r7 d supplemental updated on 7/15/2022 (resolution)