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AGENDA ITEM COVER SHEET
Meeting Date: March 20, 2018
Item #
Reviewed By:
Contact Name: Scott Cookson, City Department Director: Scott Cookson, City
Attorney Attorney
Contact Number: 407-581-9800 City Manager: Rob Frank
Subject: Extension of Date for Payment for Colony Plaza Demolition Lien and other Liens
Background Summary:
On January 16, 2018, the City Commission approved a Settlement Agreement with the owner of
Colony Plaza and the owner's development partner whereby the City would release all liens,
including the City's demolition lien, on the Property in return for a payment to the City of
$1,105,406.21, representing the reimbursement to the City of the City's costs relating to the
demolition (the "Release Amount"). Payment of the Release Amount was due to the City within
sixty (60) days of the date of approval of the Settlement Agreement (March 19, 2018).
In preparing to pay the Release Amount to the City, the owner encountered a remaining title issue
that the owner wanted to resolve prior to payment. The owner contacted City officials and City staff
agreed to extending the payment date for the Release Amount until April 4, 2018. The owner has
agreed to this extension.
Issue:
Should the City Commission approve the extension to the date of payment until April 4, 2018?
Recommendations
Staff recommends that the City Commission approve the extension of the date of payment of the
Release Amount, as defined in the Agreement, until April 4, 2018.
Attachments:
Executed Settlement Agreement
Financial Impact:
None.
Type of Item:
[ ] Public Hearing For Clerk's Dept Use:
❑ Ordinance First Reading 0 Consent Agenda
O Ordinance First Reading [ ] Public Hearing
O Resolution 0 Regular Agenda
[x] Commission Approval
❑ Discussion&Direction
[x] Original Document/Contract Attached for Execution by City Clerk
❑ Original Document/Contract Held by Department for Execution
Reviewed by City Attorney Scott A. Cookson, Esq. ❑ N/A
Reviewed by Finance Dept. ❑ N/A
Reviewed by ( ) ❑ N/A