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HomeMy WebLinkAboutCity of Tamarac Resolution R-2015-117Temp. Reso. #12692 September 9, 2015 Page 1 of 3 CITY OF TAMARAC, FLORIDA RESOLUTION NO. 2015 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO EXECUTE AN AGREEMENT TO PAY A REAL ESTATE BROKER'S COMMISSION TO HOSPITALITY CONSULTANTS REALTY SERVICES, INC. (HCRSI) FOR THE SALE OF THE 2.686 ACRE PARCEL NORTH OF THE COLONY WEST GOLF CLUB SITE FOR A FIXED FEE OF $100,000; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City owns a 2.686 acre surplus parcel of real property immediately north of the Colony West Golf Club which the City wishes to sell; and WHEREAS, in July 2014 HCRSI contacted the City for the purpose of introducing a potential buyer to build a hotel on the 2.686 acre; and WHEREAS, in June 2015 HCRSI advised the City that an additional potential buyer was interested in the site to build a hotel on the 2.686 acre parcel; and WHEREAS, in exchange for continuing to act on behalf of the City with the potential buyer of the property, HCRSI has requested that the City enter into a Commission Agreement to compensate HCRSI for the sale transaction based on an agreed upon buyer's purchase price of $1,405,000; and WHEREAS, the amount of the Commission Agreement is a fixed fee of $100,000 payable at the time of closing or in the event of a lease or other arrangement, upon execution of the transfer document which includes a provision that if the buyer defaults, HCRSI would be entitled to fifty (50%) percent of the forfeited deposits not to exceed the commission amount of $100,000; and Temp. Reso. #12692 September 9, 2015 Page 2of3 WHEREAS Real Estate services is a professional service which is exempted from competitive competition by Section 6-148 (g) of the City of Tamarac Procurement Code; and WHEREAS, HCRSI has provided the City with a Commission Agreement document included herein as Exhibit 1"; and WHEREAS, if a sale occurs, the commission will either be paid from the proceeds of the sale, or if an alternative arrangement is made for use of the proceeds, from a project fund for improvements to the Colony West site, and WHEREAS, the Director of Financial Services recommends that the Commission Agreement with HCRSI, included herein as Exhibit "1 ", be executed for the sale of the 2.686 acre parcel north of the Colony West Golf Club; and WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interests of the citizens and residents of the City of Tamarac to execute the Commission Agreement with HCRSI, included herein as Exhibit 1" for the sale of the 2.686 acre parcel north of the Colony West Golf Club. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: The foregoing "WHEREAS" clauses are HEREBY ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution upon adoption hereof and all exhibits referenced and attached hereto are incorporated herein and made a specific part of this resolution. SECTION 2: The appropriate City officials are hereby authorized to execute a Commission Agreement with HCRSI included herein as Exhibit 1" in the fixed amount of $100,000 for the sale of the 2.686 acre parcel north of the Colony West Temp. Reso. #12692 September 9, 2015 Page 3of3 Golf Club, SECTION 3- All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. SECTION 4- If any clause, section, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 5- This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this day of truer , 2015. I - &�4� HAKR'Y'DTRESSLER, MAYOR ATTEST: PATRICIA TEUFEL, CMC CITY CLERK RECORD OF COMMISSION VOTE: MAYOR DRESSLER DIST 1-. VICE MAYOR BUSHNELL t DIST 2: COMM. GOMEZ � DIST 3: COMM. GLASSER DIST 4: COMM. PLACKO I HEREBY CERTIFY THAT I HAVE APPROVED THIS RESOLUTION AS TO FORM r"r , )v(ftW' 11plis.- SAYAUEL S. GOR N CITY ATTORNEY COMMISSION AGREEMENT Sale or lease of Property described as: Colonv West Hotel site, apnrox. 2.686 acres MOL (adiacent to the Colonv West Golf Club) known as Cypress Walk Terrace Parcel ID: 494109 06 0123 This agreement between Hospitality Consultants Realty Services, Inc., REALTORS ("HCRSI") and the undersigned OWNER shall serve to register: ADl Global. LLC. ADl Group. LLC. 2028 Harrison Street. Hollvwood. FL 33020 (and/or assigns, successors, nominees or any entity, company or partnership of which they are a part of), as a prospective BUYER (or Lessee) of the property specified above. It is further agreed by the undersigned OWNER of the property that if the above named prospective BUYER(S), or any other prospect introduced by HCRSI, should purchase, lease or otherwise acquire (via trade, swap, indirect investment, or other method), the property from OWNER for a price of $1,405,000 , or at any price or terms acceptable to OWNER then OWNER agrees to recognize HCRSI as the procuring cause and pay them a professional service fee as follows: OWNER(S) agree to pay HCRSI a professional fee in the amount of $100,000.00, payable, in full, at time of closing, or in the event of a lease or other arrangement, upon execution of the transfer document. In event of a default by the BUYER, HCRSI shall be entitled to fifty per cent (50%) of any deposits forfeited by the BUYER, not to exceed the amount of the professional fee provided herein. HCRSI will endeavor to interest the prospective BUYER(S) further and the OWNER agrees to notify HCRSI if the prospective BUYER(S) calls or returns to examine the property or obtain additional information. Disclosure is hereby made that the Florida Commercial Real Estate Sales Commission Lien Act provides that when a broker has earned a commission, the broker may claim a lien against the net sale proceeds for the broker's commission, which lien shall be released only at such time as the full commission and all other sums due under this Agreement, including interest, attorneys fees and costs, have been paid in full. The broker's lien rights under the Act cannot be waived before the commission is earned in accordance with Chapter 475, Part 3, Florida Statutes. In the event that either party should initiate arbitration or litigation to enforce the terms of this Agreement, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. At and upon closing, HCRSI shall execute a release in accordance with the draft attached hereto. THIS IS A LEGALLY BINDING CONTRACT. PLEASE READ IT CAREFULLY BEFORE SIGNING. Agreed to by OWNER: By: V `� i (`�"" City of Tamarac orid ici al Robert N. Gold ein, President Hospitality Consult is Realty Services, Inc., REALTORS Y. - 7748 Mandarin Drive Boca Raton, FL 33433 (561) 997-4002 Its: ; ` CA*- 9*1 (561) 880-6308 (eFax) Dated: G:\HOTELS\HOTEL SITES\Colony West Hotel Site\Commission Agreement Colony West hotel site 8-28-15 AD1 Group (clean-final).docx Rev. 8/15 Hospitality Consultants, inc.