97-12.'^�
RESOLUTION NO. 97-12
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A RESOLTJTIOId OF THE CI'I'Y COMMISSYON OF THE CITY OF
CLEY�lRWPaTER, FiORIIJA, PROVI�ING FOR TERMINATION Or TFYE
PARK�I�TG FACILT�IES LEASE FOR TI3E PARK STEET GARAGE WITIi
THE COMAiTJI3'ITY RED�VELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FL014IDAp AND Pl20VIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF
CLEARW�4TER, F'LORIDA, AS FOLLQWS :
SECTT�N lo P�uthoritv for this Resolution.
Thi� Resolu�i�a� is aclopted pursuant to the provssians of
Chapter 166, Florida Sicatutes, and other appiicable provisa.ons af
law.
SEGTTON 2. Texmination of Lease.
The City of Clearcaater, Florida (the "City") zs currently
th.� Lessee of a certain parking facility known as the Park S�tre�'c
Garaqe and owned by �he Community Redevelopment Aganay a�� the
'�.� Ca.ty oi Clearwater t�he "Agency'6) pursuant to a Leas�- �igreean�nt
dat�d as of Augtast 28, 1g86 (the "City Lease"). �he �ity has
designated this lease�3 parking facility as part of its �aarking
system in acaoxdance with Ordinance 2799-82, as amende�l, The
Agency has entered into an agreement for the sale of the S�n
Banit/P.�rium Building to A�rium at Clearwater, Ltd., a Florida
2imited partnershi.p {�he "Buyer°), and pursuant to such agreemen�t
the Agency ha� granted the Buyer an option to purchase the leasec3
p�rking £aci�:i�y from the Agency, which option has been ex�icis�d
by tne �uyer. As a condition to such sale, the City Lsase i� to
be �t�rminated and all obligation of the City thereunder shall
ce�se. Tha Mayor, City Manager, City C1erk and City Attorney,
are each authorized and ciirected to execu�e a terminatian af the
C$�y Lease in �axm and substance acceptable to the City Attorney,
which term3.na�ian shal]. be afEective as of the date o� clo�ing an
the acquisition o�' �h.e parking facilities by �he Buyer and the
defeasance af the Agency�'s max Increment anfl Lease Revenue Bonds,
Series 1986.
SECTION 3 . 2?EieC�; ve__Da�e.
This reso].u�ion shal,�. ��i�te ef��at upan i�s �doptian.
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� Passed and adoptec3 by the Ci�y Cammission of the City of
Clearwa�er, JFlorida, tlais 6th day of �e�irr-�a��;- 1997.
March
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(SEAL). By:
Mayor
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A�x�smo
C� CZe�1�
App�csved as to form and
correctness:
t�____.�---�'' -----�
C' y Attorney �
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