2006-021
RESOLUTION NO. 2006-21
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF A VENTURA, FLORIDA, APPROVING SECOND
AMENDMENT TO SETTLEMENT AGREEMENT
BETWEEN SHEFAOR/TARRAGON, LLLP, AND THE
CITY OF A VENTURA, CONCERNING 8.77 ACRE :!:
PARCEL OF LAND LOCATED AT 17900 NORTHEAST
31ST COURT IN THE CITY OF A VENTURA,
COMMONLY KNOWN AS THE LINCOLN POINTE
PROPERTY; AUTHORIZING EXECUTION OF SECOND
AMENDMENT TO SETTLEMENT AGREEMENT;
AUTHORIZING IMPLEMENTATION OF SECOND
AMENDMENT TO SETTLEMENT AGREEMENT;
PROVIDING FOR EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Aventura, upon the recommendation
of the City Manager and City Attorney, fmds that approval of the Second Amendment to the
Settlement Agreement (the "Second Amendment to Agreement") between Shefaor/Tarragon,
LLLP and the City of A ventura, is in the best interest of the City.
NOW, THEREFORE, IT IS HEREBY RESOLVED BY THE CITY COMMISSION
OF THE CITY OF A VENTURA, FLORIDA, AS FOLLOWS:
Section 1. Recital. That the above slated recital is hereby confirmed and adopted.
Section 2. Second Amendment to Aereement Approved. That the Second
Amendment to Agreement, in substantially the form attached hereto. between
Shefaor/Tarragon, LLLP and the City of Aventura, is hereby approved, and the City Manager
is hereby authorized to execute the Second Amendment to Agreement on behalf of the City of
A ventura, once approved by the City Attorney as to form and legal sufficiency.
Resolution No. 2006-2G
Page 2
Section 3.
Implementation.
That the City Manager and City Attorney are
hereby authorized to take any and all actions which are necessary to fully implement and
effectuate this Resolution and the Second Amendment to Agreement.
Section 4.
Effective Date. That this Resolution shall become effective immediately
upon adoption hereof.
The foregoing Resolution was offered by Commissioner Joel
, who
moved its adoption. The motion was seconded by Commissioner Weinber~
, and
upon being put to a vote, the vote was as follows:
Commissioner Bob Diamond
Commissioner Harry Holzberg
Commissioner Billy Joel
Commissioner Zev Auerbach
Commissioner Michael Stem
Commissioner Luz Urbilez Weinberg
Mayor Susan Gottlieb
YP~
yes
yp!::.
yes
yes
yes
yes
PASSED AND ADOPTED this 4th day of April, 2006.
Approved as to Form and Legal Sufficiency:
N~~
City Attorney
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SECOND AMENDMENT TO
SETTLEMENT AGREEMENT
SHEFAOR/TARRAGON, LLLP, a Florida Limited Liability Limited Partnership (the
"Developer") with joinder by A VENTURA TARRAGON GP, LLC, a Florida Limited Liability
Company, AVENTURA TARRAGON LP, LLC, a Florida Limited Liability Company,
SHEFAOR BH, LLC, a Florida Limited Liability Company, TARRAGON SOUTH
DEVELOPMENT CORP., a Nevada corporation, (collectively and individually referred to
herein as the "Joining Parties"), and the CITY OF A VENTURA, FLORIDA, a Florida municipal
corporation (the "City"), hereby enter into this Second Amendment to Settlement Agreement (the
"Second Amendment to Agreement"), effective as of April 4, 2006, as follows:
RECITALS
(A) Developer, City and the Joining Parties entered into the initial Settlement
Agreement (the "Agreement") on January 19, 2006. The Agreement was subsequently amended
effective as of February 3, 2006, by the First Amendment to Settlement Agreement, which
resulted in the Amended Agreement.
(B) The parties now desire to further amend the Amended Agreement, as provided
herein, in order to provide for an opportunity to adjust the minimum number of required
townhouse units and the numerical mix of townhouse and Tower units.
(C) This Second Amendment to Agreement amends and supplements the Amended
Agreement, as provided herein.
(D) All terms utilized herein which are defined in the Agreement or in the First
Amendment to Settlement Agreement shall have the meaning as set forth in the Agreement or in
the First Amendment to Settlement Agreement unless otherwise stated.
(E) The Agreement, the First Amendment to Agreement and this Second Amendment
to Agreement, together constitute the Amended Agreement. The Second Amendment to
Agreement shall be deemed to be incorporated into, and to form an integral part of said
Agreement and Amended Agreement for all purposes thereof.
NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND OF THE
GOOD AND VALUABLE CONSIDERATION WHICH EACH PARTY
ACKNOWLEDGES TO HAVE BEEN RECEIVED FROM THE OTHER, THE CITY
AND DEVELOPER, WITH JOINDER BY EACH OF THE ENTITIES DESCRIBED AS
THE JOINING PARTIES IN PARAGRAPHS (A)(3) OF THE AGREEMENT, HEREBY
FURTHER AGREE AS FOLLOWS:
SECOND AMENDMENT TO SETTLEMENT AGREEMENT
I. Each ofthe foregoing Recitals is hereby adopted and incorporated herein as if set
forth verbatim.
II. The Agreement, as previously amended, is hereby further amended to read, as
follows:
A. Paragraph 7 of the Agreement is hereby amended to read, in its entirety, as
follows:
7. The redevelopment of Lincoln Pointe (the "Development") to be constructed shall
not exceed four hundred sixty (460) dwelling units of which number a total of at least forty four
(44) shall be townhouse units. None of the townhouse units shall be located in the four hundred
sixteen (416) unit Tower unless directly accessible from an exterior, non-lobby of Tower
entrance. Townhouses also may be situated abutting the outside of the base or lower levels of
the Tower (and be directly accessible from an exterior, non-lobby of Tower entrance) or as an
adjunct of the parking garage, but not as free-standing buildings. All of the aforementioned
townhouse units, whether or not within the Tower, may each have up to a three level floor plan.
Notwithstanding anything to the contrary which is provided above in this paragraph 7, so long as
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the total number of dwelling units for the Property does not exceed four hundred sixty (460)
dwelling units, the Developer may alter the numerical mix of the required number of townhouse
units and Tower units, in accordance with the provisions of paragraph 8(b) of this Second
Amendment to Agreement in conformity with an alternate building layout design which is
approved by the City Commission.
B. Paragraph 8(b) of the First Amendment to Settlement Agreement is hereby
amended, to read, in its entirety, as follows:
8.(b) Notwithstanding the provisions of paragraph 8(a) above, in accordance with the
requirement of Section 2 of the Waiver Resolution, Developer shall prepare and present to the
City Manager on or before March 15,2006 an alternative building layout design, for acceptance
and approval at the City Commission's discretion, as described in paragraph 8(c) below, which
provides for not more than four hundred sixty (460) dwelling units, but which includes a
reconfiguration of the residential Tower to a Tower building width which is generally not to
exceed four hundred (400) feet and to a height not to exceed thirty five (35) stories. The City
Commission shall conduct a public hearing on the requested approval of said alternate building
layout design and decide whether or not to approve said design within thirty (30) days of the
submittal of said design. If the City Commission approves said alternate building layout design,
the Tower building shall be constructed to a width and height which complies with such City
Commission approval. In the event that the City Commission approves said alternate building
layout design, it is recognized that the top residential story of the Tower may consist of
penthouse units which may each have a two level floor plan. Further, it is likewise recognized
that other stories of the Tower may have units which have a two level floor plan. Subject to City
Commission approval, the Tower may consist of a structure with two vertical groupings of
residential units, provided that there is a single pedestal and a common lobby, with the Tower
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building width to be determined and measured as the width of the single pedestal which supports
the two vertical groupings and the common lobby, for purposes of determining compliance with
the Tower building width limitations which are described above in this paragraph 8(b). The
Developer may submit, and the City Commission may approve, one or more alternate building
layout designs. In the event that the City Commission approves an alternate building layout
design in which the Tower consists of a structure with two vertical groupings of residential units,
with a single pedestal and a common lobby, as described above in this paragraph 8(b), the
Developer may alter the numerical mix of the required number of townhouse units and non-
townhouse Tower units, from that which is described in paragraph 7 of the Amended Agreement,
so that at least thirty eight (38) townhouse units shall be provided within the total of four
hundred sixty (460) dwelling units which are to be included in the Development of the Property,
and the number of non-townhouse Tower units shall be adjusted accordingly. Further, in the
event that the City Commission approves an alternate building layout design which provides for
a Tower structure with a single vertical grouping of residential units, the Developer shall be
authorized to alter the numerical mix of the required number of townhouse units and non-
townhouse Tower units, from that which is described in paragraph 7 of the Amended Agreement,
so that at least thirty one (31) townhouse units shall be provided within the total of four hundred
sixty (460) dwelling units which are to be included in the Development of the Property, and the
number of non-townhouse Tower units shall be adjusted accordingly. In any event, the total
number of dwelling units permitted for the Property shall not exceed four hundred sixty (460).
III. The parties agree that this Second Amendment to Agreement shall be
rendered binding only upon execution by all of the parties hereto.
IV. The "Effective Date" of this Second Amendment to Agreement shall be April
4,2006. However, the provisions hereof shall relate back to March 14,2006.
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V. Except as amended by this Second Amendment to Agreement to form the
latest Amended Agreement, the initial Agreement, as previously amended by the First
Amendment to Agreement, shall remain in full force and effect.
STIPULATED AND AGREED BY:
SHEFAORlTARRAGON, LLLP,
a Florida limited liability limited
partnership
CITY OF A VENTURA, FLORIDA,
a Florida municipal corporation
By: Aventura Tarragon GP, LLC, a
Florida limited liability company,
its sole general partner
By:
Eric M. Soroka, ICMA-CM, City Manager
By: Tarragon South Development
Corp., a Nevada Corporation,
its sole member
By:
Print Name:
Title:
ATTEST:
A VENTURA TARRAGON GP, LLC,
a Florida limited liability company
By:
By:
Tarragon South Development Corp.,
a Nevada Corporation
its sole member
Teresa M. Soroka, MMC, City Clerk
Pursuant to Resolution No. 2006-_
Approved as to form and legal sufficiency
for the use and reliance of the City of
Aventura only:
By:
Print Name:
Title:
By:
City Attorney
A VENTURA TARRAGON LP, LLC,
a Florida limited liability company
By: Tarragon South Development Corp.
a Nevada Corporation,
its sole member
By:
Print Name:
Title:
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SHEFAOR RH, LLC,
a Florida limited liability company
By: Planinvest, Inc., a Florida corporation
co-manager
By:
Print Name:
Title:
By: Estate Field Group, Inc., a Florida
corporation, co-manager
By:
Print Name:
Title:
TARRAGON SOUTH DEVELOPMENT CORP.,
a Nevada corporation
By:
Print Name:
Title:
F:/328.0S8/Lincoln Pointe Settlement Documents/Second Amendment to Settlement Agreement 3.23.06
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