-
8/15/2019 333-99 RDA
1/12
-
8/15/2019 333-99 RDA
2/12
WHEREAS,
Legal
advises that the
Agency
must act
reasonably
and in
good
faith in
its
obligation
to
approve
the subtenant,
and
therefore (
1i n c e the
Lease
o n t e m p l a t e s such
s u b l e a s e s
fo
u r p o s e
o
a l c u l a t i n g "
Hote
R e v e n u e " , and (
2
snce
he
D e v e l o p e r
has
s t a t e dtha
the
u b l e a s e
p r o v i d e s
R D P
with
a
righ
to
e r m i n a t e
Qu i k Pak
or
breach
o
uaityp e r a t i n g
s t a n d a r d s
a n d /o
if
e r m i n a t e d
by
he
Agency or
Loews,
the
Agency
r e c o m m e n d s
a p p r o v a lo
the
subtenant.
N O W ,
T H E R E F O R E BE
IT
U L Y
R E S O L V E DBY
HE
CHAIRMAN
AN D
M E M B E R S
OF
HE
MAM
EACH
R E D E V E L O P M E N T
A G E N C Y ,tha
the
Chairman
a n d M e m b e r s
o
the
D A
a p p r o v e Q u i k
Pak
of F l o r i d a ,
Inc.
as
he
s u b t e n a n t
ofRDP
Royal
Pam
HoteLimited
P a r t n e r s h i p pursuant
to
S e c t i o n
10.1(
c(
ii)
o
the
g r e e m e n t
o
ease
beweenthe
i a m i
Beach
R e d e v e l o p m e n t
Agency andRDP
RoyaPam
Hote
L i m i t e d
P a r t n e r s h i p ;
p r o v i d e d ,
h o w e v e r ,
this approval
shall
not
e
c o n s t r u e d
asp p r o v a l
o
uik
Pak
s
e r f o r m a n c e
nor
a i v e r
o
he Agency
srghf e n f o r c e m e n t
o
cancellation
o
ad
subease
A I R M A N
P A S S E D
A N D
A D O P T E D
ths
15h
d a y
o f
D e c e m b e r
1 9 9 9
ATTEST )
La(
J ((({
E C R E T A R Y S R l C M C /
rar
T\G E N D A \
1 9 9 9 1 D E C l 5 9 9 1 R D A
I Q U I K P
ARK.
RES
APPROVED
AS
TO
F O R M
L A N G U A G E
F O R
E X E C U n O N
If/(
4 ~-
I?
-
8/15/2019 333-99 RDA
3/12
Miam
Beach
Redevelopment Agency
700onvention
Center
Drive
Mam
Beach,
Florida
3 3 1 3 9
Teephone (
305
673
29 5
F a x :
305
673- 7772
E D E V E L O P M E N T
AGENCY
M E M O R A N D U M
NO.
99
l
ecember
15
1999
TO
C h a i rm a n
and
Memberso
the
i a m i
Beach
R e d e v e l o p
ent
AgencyFROM:
Sergo
o d r i g u e z E x e c u t i v e
Deco
UBJECT:
A
E S O L U T I O
OF
HE CHAIRMAN
AND
M E M B E R S
OF
THE
E D E V E L O P M E N T
A G E N C Y
APPROVIN G
QUK
PARK
OF
FLORDA
NC
S
THEU T E N N T
O F
R D P
R O Y A L PALM
HOTEL
L I M I T E D
P A R T N E R S H I P
PURSUANT
TO SECTION
10
(i)
FTHE
G R E E M E N T
OFEASE
BETWEEN
THE
MAM
B E A C H
R E D E V E L O P M E N T
A G E N C Y
A N D
R D P
R O Y A L
PALM
O T E L
LIMITED
P A R T N E R S H I P .
ANALYSIS
Pursuant to
Section
10
1(
i)
the
A g r e e m e n t
o
ease (
copy
attached)
e t w e e n
the
Miami
Beach
R e d e v e l o p m e n t
A g e n c y (
RDA
n d
RD P
RoyaP a l m
Hotel
L i m i t e d
P a r t n e r s h i p (
RDP),
the RDA
must
a p p r o v e the
s u b t e n a n t
o
any
u b l e a s e
o
r e a t e r
than
fifty
percent (
50%
he
parking
on
the h o t e l
premises, R D P
ha s r e q u e s t e d
that
the
RDA
a p p r o v e
Quik
P a r k
ol o r i d a ,
Inc,
as
the
ubtenant
of
the
u t u r e
R o y a l
Palm
garage. Upon
such
a
e q u e s t
by
D P ,
the
g e n c y
r e q u e s t e d
a
opyof
ther o p o s e d
s u b l e a s e , The
D e v e l o p e r will no t
provide
a
copy
ouc h s u b l e a s e
b e c a u s e
its
o u n s e l
d o e s n '
t
wanto
et
ar e c e d e n t
in
l a c i n g
documents
on
the
pubice c o r d s
unless
they
ae
p e c i f i c a l l y requiredto
do
on d e r
theg r e e m e n t
o
L e a s e . H o w e v e r
the
D e v e l o p e r h a s
s u b m i t t e d
the
t t a c h e d
leter
o n f i rm i n g "
t h a t
the
amount
o
en t
paid
by
uik P a r k
is
in
xcess
o
amounts
used
in
previous
f inancial
p r o fo r m a
for
hotel
o p e r a t i o n s . . ," ,
whch
is
soa t t a c h e d
h e r e t o ,
Financial
Impact:
W h i l e
the Agency
w o u l d
pree
to
submit
the
t t a c h e d
r e s o l u t i o n
b a s e d
upon
a
horough
r e v i e w
of
the
u b l e a s e ,
the
g r e e m e n t
ofLease
e t w e e n RD P and
the
RDAonly
provides
for
the
g e n c y '
s
approval
of
the
s u b t e n a n t
and
not
o
the
s u b l e a s e ,
a n d
t h e r e f o r e
t h e
Developer
wll
no
r o v i d e
a
opy
o
h e
p r o p o s e d
-
8/15/2019 333-99 RDA
4/12
Quik
Park
of
Forida, Inc.
December
15
999
C o m m i s s i o n
Memorandum
P a g e
2
u r t h e r m o r e ,
the o r i g i n a l
intent
o
he
n e g o t i a t e d
A g r e e m e n t
of
Lease was
to
a l l o w
RDP
l e x i b i l i t y
in
ubleasing the garage,
r e s t a u r a n t
a n d
o t h e r
portions
o
the
r e m i s e s .
Such
l e x i b i l i t y
was
c o n t e m p l a t e d as
part
othe
e g o t i a t e d
r e n t
s t r u c t u r e ,
which
is
based
p o n
the
amount
of
r e v e n u e
derived
by
RDP,
n c l u d i n g
ren
p a i d bys u b l e a s e e s . In an
efortto
ot
adversely
i m p a c t
Hotel Revenue",
byh i c h Incentive R e n t
isalculated,
the
Agency
r e q u e s t e d
tha
r o s s
parking
r e v e n u e s
be
t i l i z e d
fo
u r p o s e s
o
calculating
H o t e l
Revenue,
H o w e v e r ,
the
D e v e l o p e r
wil l
ony
gree
to
calculate Hotel
Revenues
utilizing
p a r k i n g
r e v e n u e s r e c e i v e d
byRDP
ro m
the
u b l e a s e ,
as
contemplated
inthe
A g r e e m e n t
of
Lease,
W h i le
the
e v e l o p e r
has
u b m i tt e d
the
t t a c h e d l e t t e r
conf irming
that
the
sublease
rent
wll
xceed
th e
a m o u n t s
reflected
in
he
attached
p r o f o r m a ,
the
eveloper
has
p r e l i m i n a r i l y
indicated
that
the
a n n u a l
rent
will
be
340
00, s u b j e c t
to
n n u a l
e s c a l a t i o n s ,
for
a
p e r i o d of20
years,
h e
s u b l e a s e
is
aso
u b j e c t
to
n
n i t i a l
payment
o
p p r o x i m a t e l y $
340 ,
000that
h e
D e v e l o p e r
wll
i n c l u d e
as
Hote
Revenue
in
t h e
firsyear
f
o p e r a t i o n s .
O p e r a t i n g
Standards:
A
urther c o n c e r n
o
he
A g e n c y
i n v o l v e s
Q u i k
Park
s
o p e r a t i n g s t a n d a r d s .
Quk
a rkis
the
perator
of
the
Agency
sn c h o r
S h o p s
G a r a g e (
16th
Street
G a r a g e )
as
welas
the
a l e t
o p e r a t o r
for
the
o e w s
Hotel.
u r s u a n t
to
a
meeting
b e t w e e n
the
Agency
andoews,
both
p a r t i e s h a v e
e x p r e s s e d
serious
concerns
wth
t h e
lack
o
quality
o p e r a t i n g
s t a n d a r d s
d e m o n s t ra t e d
by
Quk
Park,
including
t h e f t ,
damage,
d i s o r d e r l y
d r i v i n g
conduct,
p o o r
m a i n t e n a n c e
of
garage
facility,
etc,
oews
is a s s e s s i n g its
r e m e d ie s
t o w a r d s
Quik
Park
a
this
time.
While
the
A g e n c y
has
termination
r i g h t s for
cause,
Quk
Park
has
e s p o n d e d
to
he
Agency
r e l a t e d
issues
c o n c e r n i n g
the
arage.
F u r t h e r
c o m p l i c a t i n g th e
A g e n c y '
sr r a n g e m e n t s
with
Quk
Park
is
he
fac
h a t
thea r a g e
has
yeo
obtain
a
inal
C
and
h e r e f o r e the
Agencyhas
not
c c e p t e d
the
remises
from
the
o n t r a c t o r .
Thegency
can
u r t h e r
t e rm i n a t e
Quk
ark'
s
p e r a t i n g
Agreement
i f L o e w s
o
DP
t e rm i n a t e s
Quk
a r k
for
a u s e .
Th e
Developer
has
erbally
a s s u r e d
the
A g e n c y
that
the
roposed
s u b l e a s e
b e t w e e n
RDP
a n d Q u i k
Park p r o v i d e s
t e r m i n a t i o n
righsif
h e r e
is
a
r e a c h
o
q u a l i t y
s t a n d a r d s
and/
or
if
perator
ise r m i n a t e d by
theit y
o
he
L o e w s Hotel,
bu
hs
decision is
c o m p l e te l y
up
to
D P,
R E C O M M E N D A
TION
W h i le
the
Agency
would
prefer
to
r ec o m m e n d
a p p r o v a l
of
theu b t e n a n t
based
p o n
a
eview o
the
u b l e a s e ,
the
g r e e m e n t
o
L e a s e
does
not
a f f o r d
the
gency
s u c h
review
r i g h t s
nor
wil l
the
Developer
agree
-
8/15/2019 333-99 RDA
5/12
Quik
Park
of
Forida,
Inc,
December
15999
C o m m i s s i o n
M e m o r a n d u m
Page
3
e g a l
advises
thathe
Agency
must
a c t
r e a s o n a b l y
and
in
g o o d
fath
n
its
b l i g a t i o n
top p r o v ethe
s u b t e n a n t , and
therefore:
1
ince
the
e a s e
c o n t e m p l a t e s
s u c h
subleases
for
purpose
o
c a l c u l a t i n g "
H o t e l
Revenue",
nd
2
ince
the
D e v e l o p e r
has
verbally
stated
that
th e
s u b l e a s e
p r o v i d e s
RDP
with
a
ighttoe r m i n a t e
Quik
Pak
fo
r e a c h of
q u a l i t y
operating
s t a n d a r d s
and/
o
f
erminated
by
the
Agency
o
o e w s , the
Agency
r e c o m m e n d s
a p p r o v a l
of
theu b t e na nt .
SR~
r~
-
8/15/2019 333-99 RDA
6/12
B
A
Foreclosure
Transfer
to a
Person
that
is
not a
Foreign
Inst rumenta l i ty ; provided,
however,
prior
to the
Hotel
O p e n i ng
Date,
any
sale
by
a
Recognized
Mo r tg a g e e
or
its
Designee
shall
be
subject
to Owner'
s
approval
C.
Subject
to
the
provisions
of
Article
33,
the sale,
e a s e
o
othe
d i s p o s i t i o n of
the
e s t a u r a n t
so
on g
as
the
r o c e e d s
ofthe
sale
o
othe
i s p o s i t i o n
of
the
e s t a u r a n t
are
e q u i r e d
bythee r m s of
a
ecognized
M o r t g a g e
to
bepplied
d i r e c t l y to
the
e d u c t i o no
suchecognized
M o r t g a g e .
Any
Transfer
p u r s u a n t
to
e c t i o n lO .l(
(
i)
A
hall (1ot b e
to
a
o r e i g n
I n s t r u m e n t a l i t y
and
2
a t i s f y
the
r o v i s i o n s
o f S e c t i o n
IO.
I
vi)
ublease"
means
a n y
s u b l e a s e (
including a
sub-
sublease
o
ny
further
l e v e l
of
s u b l e t t i n g )
o
al
r
an y
portion
of
ther e m i s e s ,
budoes
not
n c l u d e subleases
serving
th e f u n c t i o n a l
equivalent
o
ecognized M o r t g a g e
or
subleases
in
the
ordinary
c o u r s e
of
business (
e
g,
u b l e a s e s
for
r e s t a u r a n t s (
e x c e p t
as
r o v i d e d
in
A r t i c l e
33as
to
the
sae
e a s e
orother
d i s p o s i t i o n
o
the
e s t a u r a n t ) ,
parking,
retail
s p a c e or
othe
space
a
he
P r e m i s e s ;
p r o v i d e d , however,
that in
the
v e n t
o
a
s u b l e a s e
o
r e a t e r than
fifty
e r c e n t ( 50, )o
he
arking
on
he
P r e m i s e s ,
O w n e r
sha
have
the
right
pprove
the
s u b t e n a n t ) .
vii)u b t e n a n t "
m e a n s
anyparty
g r a n t e d
righs
by
T e n a n t under
a
ublease
o
y
any
other
S u b t e n a n t
immediate
or
remote)
unde a
S u b l e a s e .
ixr a n s f e r means (
i)
ny c h a n g e ,
by
o p e r a t i o n
o
aw
or
o t h e r w i s e ,
in
w n e r s h i p
o
n
qu ity
Interest
in
Tenant,where
s u c h
changein
w n e r s h i p
directly
or
i n d i r e c t l y
produces
any
hange
in
theu b s t a n t i a l
C o n t r o l l i n g
I n t e r e s t
o
e n a n t ,
o (
i)any
t r a n s a c t i o n
o
e r i e s o
t r a n s a c t i o n s ,
by
operation
o
law
r
otherwise,
n c l u d i n g ,
wthou
l im i ta t io n ,
the
s s u a n c e ofa d d i t i o n a l
E q u i t y
Interests
ohe
d i r e c t
o
indirect
r e v i s i o nothe
e n e f i c i a l
o w n e r s h i p
o
o n t r o l
s t ructure
of
the
a n a g e m e n t
or
o p e r a t i o n
of
Tenant
o
any
d i r e c t
o
ndirect
c o n s t i t u e n t
entityo
Tenant,which,
ini t h e r
case
p r o d u c e s
any
c h a n g e ,
byp e r a t i o n
of
law
o
therwise, in
the
S u b s t a n t i a l
Controlling
Interest in
Tenant.x)
r a n s f e r e e " m e a n s
a
e r s o nto
w h i c h
a
r a n s f e r is
a d e .
b
o
a le
of
the
Hotel
Prior
to
the
o t e l
O p e n i n ~ Date.
o t w i t h s t a n d i n g a n y t h i n g
in
hs
ease
to
he
c o n t r a r y ,
there
s h a l l
not
be
any
S a l e
ofthe
Hotel
prior
to
the
H o t e l O p e n i n g
Date.
c)
ale
o
he
ote
to
an
f r i c a n -
A m e r ic a n
Person.
i)
te
the
Hotel
O p e n i n g
Date, e n a n t may effect
a aleoheotel
to
n
African-
A m e r i c a n P e r s o n , a p p r o v e d by
Owner,
tha
is
ot
ao r e i g n I n s t r u m e n t a l i t y ,
provided
that
the
et
Sale
Proceeds
are
i s t r i b u t e d
to
the
xtent
a v a i l a b l e ,in
heollowng
order:
A\
N M \
-
8/15/2019 333-99 RDA
7/12
RDP
Royal
Palm
Hotel,
liP
c/o Peebles
Atlantic
DeveloRffi~
f~
&
l'
o p W q p .
2 1
1 0 0
S
E
e c o n d
S t r e e f , ~ t l h :
eb50
M i a m i ,
Florida
33p~ '
P h o n e
3 0 5 )
995
5330
Fax (
305)
i~
i~0
December
7
9 9 9
Chr is t ina
Cuervo
Cty
of
Mam
e a c h
1700
C o n v e n t i o n C e n t e r
D.
i a m i B e a c h , F l o r i d a 33131
Re: p p r o v a l
o
QuikPark
ol o r i d a , Inc
as
SubLesseeothe
a r a g e D e a r
Christina: F u r t h e r
to
our
m o s t
recent
c o n v e r s a t i o n ,
t h i s
c o n f i r m s
tha
he amounto
e n t
pad
by
Quk
P a r k is
in
xcessom o u n t s
used
n
p r e v i o u s
f inancial
p r o f o r m a
for
hotel
o p e r a t i o n s
a s s o c i a t e d
with
the
pproval
o
the
ease
by
the City, daedApril
8
9 9 7
as
ttached hereto.
We trus
t h a t
this
wllbe s u f f i c i e n t
for
you
to
move
f o r w a r d wth
ity a p p r o v a lo
Quik
Park asu b l e s s e e .
S h o u l d
you
have
any
u e s t i o n s
on
his
m a t t e r pleasefeeree
o
cal
m
Sincerely, R D P
Royal
Palm
Hote,
LP
P ADC
H O S P I T A L I T Y
C O R P O R A T I O N
I,
eneral
-
8/15/2019 333-99 RDA
8/12
-
8/15/2019 333-99 RDA
9/12
12 0 J /
l
TllliI: 11
1,,\\ :
H l ; ]
B
J;,;]:~
40
I ,\
l
C
J
00 2
R D P
Royal
Pam
Hote,
LP
c/o
Peebles
Atlantic
D e v e l o p m e n t
Corporation
100
S.
E
econd
Street,
Suite
4650
NationsBank
Tower
a
I n t e r n a t i o n a l
Place
M ia m i ,
F l o r i d a
33131
D e c e m b e r
9
999
C h r i s t i n a
uervo
A s s i s t a n t
Cty
M a n a g e r
Cty
f
Miami Beach
1 7 0 0
C o n v e n t i o n
C e n t e r
Dr.
M i a m i
Beach,
l o r i d a
3 3 1 3 8
R e :
A p p r o v a l
o
Quk
Pak
of
Florida,
Inc
as
Sub
e s s e e
o
the
G~
age
Dea
C h r i s t i n a :
F u r t h e r
o
your
mos
recent
c o n v e r s a t i o n
wth
Don
Peebles,
ths
etter
confirms
hat
he
Sube a s e
A g r e e m e n t
wth Q uik
Park
includes
q u a l i t y
standards and
lermination
p r o v i s i o n s
fo
a i l u r e
to
comply
wth
the
quality
s t a n d a r d s ,
In
d d i t i o n ,
as
i s c u s s e d ,
an y
advances
of
r e n t a l
payments
from
Quk
a rk
wll
c o u n t
s
o t e l
R e v e n u e
fo
u r p o s e s
of
the
e t e m l i n a t i o n
and
computation
of
Illcentive
Rent
p u r s u a n t
to
the
Ground
L e a s e ,
e
a p p r e c i a t e
y o u r
c o n t i n u e d
c o o p e r a t i o n
in
a d d r e s s i n g
this
m a t t e r
fo
Cr;
1
p p r o v a l
of
Q u i k Park
as
suh
lessee.
Should
you
have
an y q u e s t i o n s
peasee e l
free
to
cal
m e .
RDP
Roya l
Pam
H o t e f ,
LP
PADe
H O S P I T A I .
JTY
O R P O R A T I O N
I,
e n e r a l
-
8/15/2019 333-99 RDA
10/12
-
8/15/2019 333-99 RDA
11/12
RESOLUTION
NO.
3 3 3 -
99
E S O L U T I O N
OHE CHAIRMAN
AN D
M E M B E R S
O
HE
E DE V E L OP ME NT
A G E N C Y
A P P R O V I N G
Q U I K
PARK
OFL O R I D A , INC.
AS
HE S U B T E N A N T OF
DP
ROYAL
PALM
HOTEL
LMTED
A R T N E R S H I P
PURSUANT
TO
S E C T I O N lO .
l
(i)
O
HE
A G R E E M E N T OFEASE
BET\
VEEN
T H E
MA1\
EACH
E D E V E L O P M E N T
A G E N C Y AND
RDP
ROYAL
PALM
HOTEL
LMTED
P A R T N E R S H I P .
W H E R E A S
pursuant to
S e c t i o n lO ,
l
)(i)
o
he
A g r e em e n to
e a s e
between
the
Mam
Beach
R e d e v e l o p m e n t
A g e n c y ( RDA)
and
RDP
Royal
Pam
Hote
Limited
P a r t n e r s h i p (
RDP),the
RDA
u s t
approve the
s u b t e n a n t
ony
sublease
o
g r e a t e r
than
fifty
p e r c e n t (
50%
othe parking
on
he
hoe
r e m i s e s ; and
VHEREAS,
R D P
ha s
r e q u e s t e d
that
the
RDA a p p r o v e QukPark of F l o r i d a ,
nc
s
the
s u b t e n a n t
o
he
future
R o y a l
Pam
a r a g e ;
and
H E R E A S ,
the
e v e l o p e r
has
u b m i tt e d
the
t t a c h e d
l e t t e r
confirming "
that
the
a m o u n t of rent
paid
b y Q u i k Park
is
in
xcess
of
amounts
used
in
r e v i o u s f i n a n c i a l
proforma
for
hote
o p e r a t i o n s . . . " ;
n d
V H E R E A S ,
while
the
g e n c y
would
p r e f e r
to
ubmit
ths
e s o l u t i o n
based
upona
h o r o u g h
review
of
the
u b l e a s e ,
the
greement
o
e a s e
b e t w e e n
RDP
and
the
D A only
provides
fo r
the
A g e n c y
s
approval
ofth'e
u b t e n a n t an d
no
o
the
u b l e a s e ,
and
h e r e f o r e
the
D e v e l o p e r
w i l l
not
r o v i d e
a
copy
ohe
proposed
s u b l e a s e ;
and
H E R E A S ,
the
eveloper
has
p r e l i m i n a r i l y
indicated
that
the
a n n u a l
rent
will
be
5340
00,
s u b j e c t
to
n n u a l
e s c a l a t i o n s
for
a
e r i o d
o20e a r s
and
tha
he
s u b l e a s eis
aso
u b j e c t
to
nn i t i a l
payment
o
p p r o x i m a t e l y
5 3 4 0 ,
000
that
h e
D e v e l o p e r
wll
include
as
Hote
R e v e n u e
inhe
firs
year of
o p e r a t i o n s ; and
H E R E A S ,
the
gency
and the
L o e w s
H o t e l
have
expressed
concerns
wth
the lack
o
u a l i t y
operating
s t a n d a r d s
d e m o n s t r a te d
by
QukPark;
and
H E R E A S ,
the
Developer
has
ssured
the
A g e n c y
that
the
proposed
sublease
b e n v e e n
RDP
n d Q u i k
Pakr o v i d e s
t e r m i n a t i o n
righs
fthere
is
a
breach
of
quaity
s t a n d a r d s
and/
or
if
p e r a t o r
is
e r m i n a t e d
by
the
tyor
the
oews
Hotel;
n d
VHEREAS,
while
the
A g e n c y woud
prefer
to
e c o m m e n d
approval
of the
subtenant b a s e d
upon
a
eview
o
the
sublease,
the
A g r e e m e n t
oease
does
not
afford
the
Agency
such
r e v i e w
rights
n o r
wll
the
D e v e l o p e r
agee
to
r o v i d e
-
8/15/2019 333-99 RDA
12/12
VHEREAS,
L e ga l
advises
that the
Agency
must
act
reasonably
and in
g o o d
faith
in
its
obligation
to
approve
the subtenant,
and
therefore (1i n c e
the
Lease
o n t e m p l a t e s
such
s u b l e a s e s
fo
u r p o s e
o
a l c u l a t i n g "
Hote
R e v e n u e " ,
and (
2
snce
he
D e v e l o p e r
has s t a t e d that
the
u b l e a s e
p r o v i d e s
R D P
with
arigh
to
e r m i n a t e Q u i k Pak
for
breach
o
uaity
p e r a t i n g
s t a n d a r d s
a n d /
o
if
e r m i n a t e d
by
he
Agency or
Loews,
the
Agency
r e c o m m e n d s a p p r o v a l
o
the
subtenant.
N O W ,
T H E R E F O R E
BE
IT
ULY
R E S O L YED
BY
HE
CHAIRMAN
AN D
M E M B E R S OFHE
MAM
EACH
R E D E V E L O P M E N T
A G E N C Y ,
tha
the
Chairman a n d
M e m b e r s
o
the
DA
a p p r o v e Q u i k Pak
of
F l o r i d a , Inc.ashe
s u b t e n a n t
ofRDP
Royal Pam
HoteLmted
P a r t n e r s h i p pursuant
to
S e c t i o n
10,1(
c
ii)othe
g r e e m e n t
oease
beween
the
i a m i Beach
R e d e v e l o p m e n t
Agency
andRDP
RoyaPam
Hote L i m i te d
P a r t n e r s h i p ;
p r o v i d e d ,
h o w e v e r , this
approval
s h a l l
not
e
c o n s t r u e d
as
p p r o v a l
o
uk
Pak
s
e r f o r m a n c e
nor
a i v e r
o
he
Agencys
rgh
f
e n f o r c e m e n t
o
cancellation
o
sad
u b l e a s e .
P A S S E D
A N D
A D O P T E D
ths
15h
a y
of
D e c e m b e r
1 9 9 9
C H A I R l V l A L ~
A ~ ;
r E S T : . ) . '
l/
LL
JI (L
C{~
E CRE TARY SR
CMC/
ra
\
AGENDA\
I
999\
DEC
599\
RDAIQUlKPARK.
R E S A P P R O V E D
A S
10
ORM &
A N G U A G E
FO R
E X E C U T I O N
1ft(
fttU~-
1
;
V9~
e d l M
lopment
I v J e n c y
0a1. '
f ....:
r. . ~
T A T E
OF
L O R I D A
C O U N l Y
OF
D A D E :
t, .
a.
BERT
P A R C H E R ,
City
Cler'
j(
of
Cty
o
MIamI
B e a c h ,
F l o r i d a ,
do
h e r e b y
certify
that
the
a b o v e
and
foregoing
is
a
ru e
and
correct
copy
of
the
original
t h e r e o f
on
file
n
this
o f f i c e .
TN~
SS,
my
hand,
n d
th e
sea
o
s a i d
City
t h I S )
d a y
of
l c e i i & - ftA.
D
19&
1
1
O B E R T
P A R C H E R
I
Ity
c~
r,
1-
Cty,
