Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute A Second Amended And Restated Agreement For Beach Services Within A Designated Area On Hollywood Beach With MVHF, LLC.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
On February 9, 2011, the City and Margaritaville Hollywood Beach Resort, LP, entered into an Agreement for Beach Services on Hollywood Beach ("Initial Agreement") included as Exhibit "F" to the Amended and Restated Development Agreement and Ground Lease.
On June 21, 2013, the Initial Agreement was amended and executed allowing for the sale of beverages, including alcoholic beverages on the sandy beach eastward of the resort. On August 23, 2017, the amended Initial Agreement was amended and restated in its entirety (the "Amended Agreement") to include a provision that allowed for the sale of both food and beverages for a ten year period from the date the developer applied for a Certificate of Occupancy. The ten year period allowing for the sale of food and beverages ceases on August 27, 2025.
The Amended Agreement provides for the renting of equipment such as chairs, cabanas, umbrellas and related items as well as for the sale of food and beverage within a specific geographic area defined as the "Hotel Territory." It also stipulates the maintenance and repair of equipment, hours of operation, advertising and promotion restrictions, as well as other matters such as corridor requirements.
The Amended Agreement allows for successors in interest and MVHF, LLC is the successor in interest to Margaritaville Hollywood Beach Resort, LLC.
The Development Officer and Director of Communications, Marketing, and Economic Development recommend that the City Commission authorize the appropriate City Officials to execute a 2nd Amended and Restated Agreement with the new owner of the resort as the successor i...
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