Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Granting Lessor Consent For The Operation Of A Restaurant Named "AIR MARGARITAVILLE" At Fort Lauderdale-Hollywood International Airport.
Body
Staff Recommends: Approval of the attached resolution.
Explanation:
Margaritaville Hollywood Beach Resort, L.P. (the "Developer") and the City of Hollywood, Florida entered into an Amended and Restated Development Agreement (the "Agreement") dated June 21, 2013 for the redevelopment of the site commonly known as Johnson Street for a resort hotel project.
Pursuant to Section 12.7 of the Agreement, entitled "Non-Competition.", the Developer shall not, and shall cause its affiliates to not, directly or indirectly own any interest in, operate, or in any manner be connected or associated with any full or limited hotel, food or beverage business operated under the name "Margaritaville" and located within the applicable Market Area (geographical area of 10 miles from the hotel in any direction), without first obtaining the City's written consent which may be withheld in the City's sole discretion.
The Developer has notified the City that one of its affiliates proposes to lease space at the Fort Lauderdale-Hollywood International Airport to operate a restaurant named "AIR MARGARITAVILLE" and has requested the City's written consent to the operation of this restaurant by its affiliate. According to the Developer, introducing the Margaritaville Brand to arriving and the travelling public will enhance and bring interest to the Margaritaville Hollywood Beach Resort that might not otherwise have been generated.
Recommended for inclusion on the agenda by:
Cathy Swanson-Rivenbark, City Manager
Frederick J. Hopkins, Director of Real Estate