Title
"THE PALMS" AIR RIGHTS EASEMENT AND TEMPORARY CONSTRUCTION EASEMENT (B)
Explanation
In November 2006, the City Commission approved Southwest Second Avenue, LLC's Transformational Incentives Program application to construct an upscale multi-family condominium residential project known as "The Palms", located at the northeast corner of Southwest 2nd Avenue and Southwest 3rd Street. The project includes one four-story building with 48 two bedroom/two bath units. In July 2007, the City and Southwest Second Avenue, LLC executed a License Agreement for Use of Parking Garage, whereby the City granted to Southwest Second Avenue, LLC certain rights to 96 spaces in the City's Southwest Downtown Parking Garage for use by The Palms.
The City, in its License Agreement for Use of Parking Garage, agreed to grant Southwest Second Avenue, LLC an air rights easement to allow for the construction of a pedestrian walkway bridge from the City's Downtown Parking Garage into The Palms. In order to commence construction, City and Developer also need to execute a Temporary Construction Easement. The Developer is in the final stage of the process of obtaining development plan approval and is in need of these two documents in order to move forward.
Fiscal Note
None.
Recommendation
The City Commission authorize the Mayor to execute and the Clerk of the Commission to attest an Air Rights Easement and Temporary Construction Easement between the City and Southwest Second Avenue, LLC subject to approval by the City Attorney as to form and legality.