HomeMy WebLinkAboutCity of Tamarac Resolution R-2021-047 Temp. Reso. # 13596
April 14, 2021
Page 1 of 4
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2021- /
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA, ACCEPTING A LETTER OF INTENT (LOI) AND
AUTHORIZING THE NEGOTIATION OF A CONTRACT FOR SALE AND
PURCHASE WITH MEDALIST RESTAURANT GROUP LLC, TO
FACILITATE THE SALE AND COMMERCIAL DEVELOPMENT OF .67
ACRES OF REAL PROPERTY LOCATED ON THE NORTH SIDE OF
COMMERCIAL BOULEVARD, 280 FEET WEST OF N.W. 82ND AVENUE,
KNOWN AS, A PORTION OF LOT 3, BLOCK 7, LYONS COMMERCIAL
SUBDIVISION" ACCORDING TO THE PLAT THEREOF, AS RECORDED
IN PLAT BOOK 69, PAGE 42 OF THE PUBLIC RECORDS OF BROWARD
COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED IN
EXHIBIT "A", ATTACHED HERETO AND INCORPORATED HEREIN;
PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Tamarac, a Florida municipal corporation ("Seller") is the
• owner of certain unimproved real property located in the City of Tamarac, Broward
County, Florida, and more particularly described in Exhibit "A" (the "Property") and made
a part hereof; and
WHEREAS, Medalist Restaurant Group LLC, a Private Corporation (the "Buyer"),
desires to purchase and the Seller desires to sell the Property for the development of a
restaurant with drive-thru service upon the terms and conditions set forth in a future
Contract for Sale and Purchase; and
WHEREAS, negotiating a Contract for Sale and Purchase is mutually beneficial to
the parties given that it will provide the opportunity for a desired economic development
project along the Commercial Boulevard Corridor, an area that the City has targeted for
mixed-use development, revitalization and urban place making initiatives; and
•
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Temp. Reso. # 13596
April 14, 2021
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WHEREAS, in accordance with Section 6-156.2 of the City of Tamarac Code of •
Ordinances, two appraisals were obtained for the proposed disposition of the City owned
Property; and
WHEREAS, the appraisal reports completed in February 2021 by Miller Appraisal
Group, Inc and Vance Real Estate Service yielded the respective values of Five Hundred
and Twenty-Five Thousand ($525,000.00) Dollars and Five Hundred and Ninety
Thousand ($590,000) Dollars or ($17.92) and ($20.14) per square foot of land area; and
WHEREAS, the Buyer for the Property, consistent with the recent appraisal values,
submitted a Letter of Intent to purchase the property for Five Hundred and Fifty Thousand
Dollars ($550,000.00), and the Buyer would purchase the Property for the agreed upon
price subject to the terms and conditions of the future Contract for Sale and Purchase;
and S
WHEREAS, the Directors of Community Development and Financial Services,
recommends that the City Commission accept the Letter of Intent and authorize
negotiation with Medalist Restaurant Group, LLC for a future Contract for Sale and
Purchase of the Property; and
WHEREAS, the City Commission deems it to be in the best interests of the City of
Tamarac to accept the Letter of Intent, included herein as Exhibit "B" (attached hereto
and incorporated herein) and authorize negotiation with Medalist Restaurant Group, LLC
for a Contract for Sale and Purchase of real property to facilitate the development of a
restaurant with drive-thru service along the Commercial Boulevard Corridor.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA: •
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Temp. Reso. # 13596
April 14, 2021
Page 3 of 4
IDSECTION 1: The foregoing "WHEREAS" clause is hereby ratified and confirmed
as being true and correct, and is made a specific part of this Resolution upon adoption
hereof.
SECTION 2: The City Commission of the City of Tamarac, Florida hereby
approves and authorizes the appropriate City officials to accept the Letter of Intent from
Medalist Restaurant Group, LLC;
SECTION 3: The City Commission of the City of Tamarac, Florida hereby
authorizes the appropriate City officials to negotiate a Contract for Sale and Purchase to
facilitate the transaction between the City of Tamarac and Medalist Restaurant Group,
LLC, a private corporation to develop .67 acres of real property located at 280 feet West
of N.W. 82nd Avenue on the North side of W. Commercial Boulevard in the City of
• Tamarac, Florida.
SECTION 4: The Mayor and City Manager are authorized to take all actions
consistent with this Resolution.
SECTION 5: All resolutions inconsistent or in conflict herewith shall be and are
hereby repealed insofar as there is conflict or inconsistency.
SECTION 6: If any section, sentence, clause, or phrase of this Resolution is held
to be invalid or unconstitutional by any court of competent jurisdiction, then such holding
shall in no way affect the validity of the remaining portions of this resolution.
SECTION 7: This Resolution shall become effective upon its passage and
adoption by the City Commission.
• (SIGNATURE PAGE TO FOLLOW)
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Temp. Reso. # 13596
April 14, 2021
Page 4 of 4
PASSED AND ADOPTED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, •
FLORIDA, THIS VtADAY OF u-I(_-- , 2021.
CITY OF TAMARAC FLORIDA
tejel° •
MICH LLE J. GOMEZ, AYOR
ATTEST:
L
JENNIF JOHNSON
CITY ERK
RECORD OF COMMISSION VOTE:
MAYOR GOMEZ 1111
DIST 1: COMM. BOLTON
DIST 2: COMM. GELIN
DIST 3: V/M VILLALOBOS
DIST 4: COMM. PLACKO
I HEREBY CERTIFY THAT I HAVE
APPROVED THIS RESOLUTION
AS TO FORM: ,'
HANS.OTTINOT J
CITY ATTORNEY
•
{00356756.1 2704-0501640}
1 CFN # 109804160, OR BK 47642 Page 1964, Page 1 of 3, Recorded 01/10/2011 at ` "
10:32 AM, Broward County Commission, Doc. D $1050.00 Deputy Clerk 3405
l
. , ,
Prepared by and return to:
Erik Wesoloski,Esq.
Wesoloski Carlson,P.A.
848 Brickell Avenue Suite 300
Miami,FL 33131
File Number: F09-7011a
Will Call No.:
[Space Above This Line For Recording Data]
Warranty Deed
This Warranty Deed made this 30th day of November,20I0 between ELF LLC,a Florida limited liability company
whose post office address is 231 SW 65th Avenue, Hollywood, FL 33023, grantor, and City of Tamarac, a Florida
Municipality Corporation,a Florida municipality whose post office address is 8261 W.Commercial Boulevard,Fort
Lauderdale,FL 33351,grantee:
(Whenever used herein the terms"grantor"and"grantee"include all the parties to this instrument and the heirs,legal representatives,and assigns of
individuals,end the successors and assigns of corporations,trusts and trustees)
Witnesseth,that said grantor,for and in consideration of the sum of TEN AND NO/100 DOLLARS($10.00)and other
good and valuable considerations to said grantor in hand paid by said grantee,the receipt whereof is hereby acknowledged,
has granted,bargained,and sold to the said grantee,and grantee's heirs and assigns forever,the following described land,
situate,lying and being in Broward County,Florida to-wit:
Lot 3,Less the South 7 Feet thereof,Block 7,of LYONS COMMERCIAL SUBDIVISION,according
to the Plat thereof,as recorded in Plat Book 69,Page 42,of the Public Records Broward County,
Florida.
IIIParcel Identification Number:49-4109-04-0120
Together with all the tenements,hereditaments and appurtenances thereto belonging or in anywise appertaining.
To Have and to Hold,the same in fee simple forever.
And the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simple;that the
grantor has good right and lawful authority to sell and convey said land;that the grantor hereby fully warrants the title to said
land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all
encumbrances,except taxes accruing subsequent to December 31,2009.
In Witness Whereof,grantor has hereunto set grantor's hand and seal the day and year first above written.
DouhleTimeo
3
CFN # 109804160, OR BK 47642 PG 1965, Page 2 of 3
Signed,sealed and delivered in our presence: •
ELF LLC
By:
Wim ss ame: Carlos Frias,as Manager
Wine •
Witness Name: a M.Fries M er
Witness Name:
State of Florida
County of Miami-Dade
The foregoing instrument was acknowledged before me this 30th day of November,2010 by Christine M.Frias as manager
of ELF LLC,on behalf of the corporation. They[,are personally km•me or[X]have produced a vet s license
identification.
[Notary Seal] Notary•�`
Printed Name:
My Commission Expires: Z Cci
TiERESITA
(407)3og.p153 ....• raN f .7O13
Finnri3,:7,:nvei.
com
Warranty Deed-Page 2 Double-rime
•
• CFN # 109804160, OR BK 47642 PG 1966, Page 3 of 3
•
Signed,sealed and delivered in our presence:
ELF LLC
i
,tj'7
_. AI By:
W.„ 1, los Friar,as ager
witnessN me: S& 4e2.
By:
Witness Name: Christine M.Frias,as Manager
Witness Name:
State of Florida
County of Miami-Dade
The foregoing instrument was acknowledged before me this 30th day of November,2010 by Carlos Fries,as Manager and
Christine M.Friss of ELF LLC,on behalf of the corporation. They I .nally known to me or[X]have produced a
driver's license as identification.
gi° I ;./I
[Now TE6'.ESlTA Sr'MON E Notary Public
pnvccs. SS:r "9
41111 Printed Name: /I; j '1
(907)3607:�'
My Commission Expires: -2i2-D
Stare of Florida
County of Miami-lade
The foregoing instrument was acknowledged before me this 30th day of November,2010 by Christine M.Fras,who j is
petwna ly known or[X]has produced a driver's license as identification.
[Notary Seal] Notary Public
Printed Name:
My Commission Expires:
Warranty Deed_Page 2 Doubi.Tbti.
•
SRS
• Fl Real Estate Partners
EXHIBIT A
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Fl SRS
Real Estate Partners •
•
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or
Fl SRS
Real Estate Partners
March 23, 2021
Mr. Frank Zickar
Assistant Director I Community Development
7525 NW 88th Avenue
Tamarac, FL 33321
RE: 29,300 sf parcel at W. Commercial Blvd.
Tamarac, FL 33351
Mr. Zickar:
On behalf of Medalist Restaurant Group, LLC (or its assignee), "Buyer", I am pleased
to submit the following proposal, which will serve as an outline of the major
. provisions that would be included in a Purchase and Sale Contract and Escrow
Instructions.
1. BUYER: Medalist Restaurant Group, LLC (or its Assignee)
2. SELLER: City of Tamarac
3. PROPERTY: Approximately.67 acres as identified
on Exhibit A.
4. PURCHASE PRICE: $550,000
5. DEPOSIT: Ten Thousand Dollars ($10,000) will be
deposited within three (3) business days
following the opening of Escrow, applicable to
the Purchase Price which will become non-
refundable (except in the event of Seller's default
or a failure of one of Buyer's conditions to close)
upon approval of Buyer's Inspection Period
(defined below).
410
Fl SRS
Real Estate Partners •
6. INSPECTION PERIOD: Buyer shall have one hundred twenty (120) days
from the date the Purchase Agreement is fully
executed to satisfy the items identified below to
their sole satisfaction (the"Inspection Period").
Buyer shall have the right to conduct a complete
physical inspection of the property, review and
approve the Phase I, REA, survey,title report,
zoning and soils report,and any other due
diligence investigations that it determines
necessary to evaluate the property for its
intended use. In the event Seller has a Phase I
survey,zoning, soils report and/or any other
reports/studies concerning the Property in its
possession,Seller shall provide a copy of all such
reports/studies to Buyer within five (5) days of
executing a Purchase Agreement.
7. PERMITTING PERIOD: a) Buyer shall have an additional 120 days after
the expiration of the Inspection Period to secure
all government approvals and permits it deems •
necessary. Seller will reasonably cooperate with
Buyer in its pursuit of approvals.
b) Buyer may terminate the Contract during the
Permitting Period if it is unsuccessful in its
efforts in securing all government approvals and
permits it deems necessary and all deposits shall
be refundable.
8. EXTENSION OPTIONS: Additionally, Buyer shall have two (2) options to
extend the Permitting Period for thirty (30) days.
In the event Buyer elects to exercise its
option(s), Buyer shall (i) notify Seller and the
escrow officer seven (7) days prior to the
scheduled closing date; and (ii) deposit an
additional $10,000 with escrow for each thirty
(30) day extension,which together with the
initial deposit shall be nonrefundable (except in
the event of Seller's default or a failure of Buyer's
condition to close including receipt of permits
for its intended use) and immediately available
to Seller but shall be applied towards the
purchase price. •
• Fil SRS
Real Estate Partners
9. CLOSE OF ESCROW: The Close of Escrow shall be thirty(30)
calendar days from the completion of the
Permitting Period.
10. CONDITION OF THE
PROPERTY: Subject to customary representations,
warranties and covenants made by Seller,the
property shall be delivered per Exhibit B with
the expectation that there are no material
defects to the property or any hazardous
materials clean-up required.
11. TITLE/ESCROW: Title and Escrow services shall be provided by a
company to be selected by Buyer. Seller shall
pay the premium for an ALTA extended coverage
title policy,the documentary transfer taxes and
one-half(1/2) of the escrow fee. Buyer shall pay
all recording fees, one half(1/2) of the escrow
fee and any excess title policy charges. All other
closing costs shall be paid in accordance with the
III custom in the county where the Property is
located.
13. COMMISSIONS/
DISCLOSURES: Seller shall have the responsibility of paying the
sales commission at closing in accordance with a
separate agreement. It is understood that SRS
Real Estate Partners has represented the Buyer
in this transaction and will paid a commission
equal to 5% of the purchase price at closing.
This letter is merely a Letter of Intent and is not a contract,offer or option. This
letter does not provide Buyer with rights in the Property or against Seller or its
affiliates. Seller will not negotiate with any other party during the time "after"this
Letter of Intent is signed by both parties and a binding Purchase Agreement is fully
executed by Buyer and Seller. Neither party shall be bound to the other party until a
Purchase Agreement is executed by both parties. If this Letter of Intent sets forth
your understanding of the basic business terms relating to our negotiation of the
proposed Purchase Agreement,please execute and return this Letter of Intent to the
undersigned on or before 5:00 pm April 16, 2021. Upon our receipt of an executed
copy of the Letter of Intent,the Seller shall draft the Purchase and Sale Agreement.
In the event a formal Purchase Agreement is not executed by Buyer and Seller
within forty-five (45) calendar days from execution of the Letter of Intent,the terms
of this Letter of Intent shall no longer be valid.
IIII
Fli SRS
Real Estate Partners •
If the foregoing is acceptable,please acknowledge your agreement by signing below.
Thank you for your consideration of this offer. We look forward to consummating
this transaction.
Sincerely,
t1 Ulm
Michael Weiss
Senior Vice President
IISRS
Real Estate Partrers
OUTSMART THE COMPETITION.
SRS Real Estate Partners
111
AGREED AND ACCEPTED:
Seller:
By:
Its:
Date:
Buyer:
By:
Its:
Date:
III