Title
A Resolution Of The Hollywood, Florida, Community Redevelopment Agency ("CRA"), Approving And Authorizing The Appropriate CRA Officials To Execute The Attached Settlement Agreement Implementing A Settlement With The City Of Hollywood, Icon Office Building, LLC ("Developer"), And Berman Development Group, L.L.C. ("BDG").
Body
Staff Recommends: Approval of the Resolution.
Explanation:
The CRA, the City of Hollywood, and BDG entered into a Developer Agreement and Parking Lease Agreement dated October 21, 2003. The CRA, the City and BDG entered into a First Amendment to Developer Agreement and Parking Lease Agreement dated June 21, 2004. The CRA, the City, BDG, and Berman Land Investments, L.L.C., ("BLI"), entered into a Second Amendment to Developer Agreement and Parking Lease Agreement dated July 25, 2005. The CRA, the City, BDG, and BLI entered into a Third Amendment to Developer Agreement and Parking Lease Agreement dated March 21, 2006. The CRA, the City, BDG, Radius Office Building, L.L.C., ("ROB"), f/k/a BLI, Hollywood Office Building, L.L.C., and Radius Retail Condominium, L.L.C., ("RRC") entered into a Fourth Amendment to Developer Agreement and Parking Lease Agreement dated October 15, 2009 (the "Fourth Amendment").
On or about November 23, 2015, Developer, BDG, RRC, and SunTrust Parking Lot, LLC, f/k/a Hollywood Office Building, LLC, filed a lawsuit in the Circuit Court of the 17th Judicial Circuit in Broward County, Florida (the "Court"), Case No. CACE-15-020788, against the CRA and the City, in response to which the CRA and the City filed a counterclaim which was severed by the Court and by agreement of the parties on December 10, 2017 (hereinafter referred to as individually or if severed then collectively as the "Lawsuit"). On or about July 1, 2016, the CRA and the City filed an Answer and Affirmative Defenses, Counterclaims, and Third-Party Complaint.
Subject to the terms of the attached Settlement Agreement, the parties have agreed...
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