Item M12
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: August 20, 2008
Division: Growth Management
Bulk Item: Yes ~ No
Department:
Staff Contact: Andrew O. Trivette
AGENDA ITEM WORDING:
Acceptance of two (2) market rate ROGO allocations and eight (8) transient residential allocations
from Ocean Key Associates, Ltd.
ITEM BACKGROUND:
BOCC approved the Development Agreement with Ocean Sunrise Associates, LLC for a development
called Mandalay Bay at its meeting of November 14, 2007. Pursuant to that agreement two (2) market
rate ROGO allocations and eight (8) transient ROGO allocations were to be transferred to the County
by an affiliated company, Ocean Key Associates, Ltd. This completes that transaction.
PREVIOUS RELEVANT BOCC ACTION:
November 14, 2007 the Board approved a Development Agreement with Ocean Sunrise Associates,
LLC.
CONTRACT/AGREEMENT CHANGES: N/A
STAFF RECOMMENDATIONS: Approval
TOTAL COST:
nla
BUDGETED: Yes
No
COST TO COUNTY:
nla
SOURCE OF FUNDS:
AMOUNTPERMONTH_ Year
REVENUE PRODUCING: Yes
No x
APPROVED BY: County Arty --X- OMB/Purchasing _Risk Management_
Not Required_
DOCUMENTATION:
Included X
DISPOSITION:
AGENDA ITEM #
Revised 11/06
This instrument prepared by:
TIMOTHY NICHOLAS THOMES, ESQ,
99198 Overseas Highway, Suite 8
Key Largo, FL 33037
I
I
I
I
I
I
[
I
I
I
[
I
!
I
This document was prepared without the benefit!
of a title search. I
I
Retum to:
MONROE COUNTY, FLORIDA
clo Susan Grimsley
1100 Simonton Street
Key West, FL 33040
Altemate Key Number: 1680435
Parcel Account Number: 00554940-000300
ASSIGNMENT. TRANSFER AND DONATION
THA T on this _ day of
2008,
OCEAN
KEY
ASSOCIATES, LTD., a Florida limited partnership, ("Ocean Key") and OCEAN
SUNRISE ASSOCIATES, LLC, a Florida limited liability company ("Ocean Sunrise"), in
consideration of the sum of Ten Dollars ($10.00) and other good and valuable
consideration, in hand paid by MONROE COUNTY, FLORIDA, ("Monroe County"), a
Political subdivision of Florida, do hereby grant, transfer and assign and set over unto
Monroe County, two (2) market rate ROGO exemptions and eight (8) transient residential
ROGO exemptions pursuant to the terms of Resolution No. 493-2007 recorded in Book
2341, Page 1014 - 1017 of the public records of Monroe County, Florida and pursuant to
the Development Agreement for the MANDALA Y BAY DEVELOPMENT A/K/ A
OCEAN SUNRISE ASSOCIATES, LLC.
WHEREAS, Ocean Sunrise has sought approval of its Development Agreement for
the MANDALA Y BAY DEVELOPMENT.
WHEREAS, Monroe County has approved Ocean Sunrise's request for approval of
its Development Agreement.
WHEREAS, pmsuant to the terms of the above-referenced resolution and the
stipulation of Monroe County and Ocean Sunrise and Ocean Key, it was therefore agreed
that:
1) Monroe County approved the Development Agreement applied for by Ocean
Sunrise conditioned, among other requirements, upon the transfer of two (2)
1
market rate ROGO exemptions which are owned by Ocean Key and which were
part of the rights granted to Ocean Key in its development of Manner's Club.
2) These two (2) market rate ROGO exemptions represent two (2) units which will not
be utilized by Ocean Key in the development of Mariner's Club.
3) These two (2) market rate ROGO units by virtue of this document are hereby
assigned, transferred and donated to Monroe County subject to the terms and
conditions of the Development Agreement as approved by Resolution No. 493-
2007.
4) Additionally, Ocean Sunrise owns eight (8) transient residential ROGO exemptions
as a result of its ownership of the following RE Nos. 00554420.000000,
00554670.000000, 00554700.000000, 005473.000000, 00554740.000000 and
005549040.000300.
5) These eight (8) transient residential ROGO exemptions will not be utilized by
Ocean Sunrise and are the eight (8) unused transient ROGO exemption rights
referenced in the Development Agreement.
6) Those eight (8) transient residential ROGO exemptions are hereby assigned,
transferred and donated to Monroe County.
7) All assignments, transfers and donations herein are subject to the additional terms
and conditions set forth in the Development Agreement and Resolution No. 493-
2007 as well as all restrictions and limitations on such units.
8) Neither Ocean Sunrise, nor Ocean Key makes any representations as to the right of
Monroe County to utilize these assigned, transferred and donated exemptions for
any purpose, nor any development rights associated with these ROGO exemptions
by assignors.
9) Ocean Key and Ocean Sunrise shall have no [mandaI or other liability nor be
required to pay any costs, transfer fees, or other expenses of any kind for the
assignment and transfer of these exemptions to Monroe County.
10) Monroe County acknowledges that the assigning, transferring and donating entities
shall have the right to claim the market value of these ROGO exemptions as tax
deductible donations to Monroe County, but Monroe County makes no
representations or warranties as to the tax consequences to Ocean Key and Ocean
Sunrise of this transaction.
2
11) Ocean Sunrise, Ocean Key and Monroe County agree that Monroe County shall
have no tax consequences.
WHEREFORE, Ocean Key and Ocean Sunrise hereby asslgns, transfers and
donates to Monroe County, a political subdivision of Florida, the ROGO exemptions
referenced above.
Signed, sealed and delivered in
the presence of:
OCEAN KEY ASSOCIATES, LTD., a
Florida limited partnership
By~J~
Pri N :~~a~ ~ -eo"\C\e)..\v
Title: V. II
STATE OF FLORIDA )
COUNTY OF \....ee )
SWORN to (or affIrmed) and subscribed before me this .()q day of .:r l) h_~
2008 by ~q\a..S.::s. <:o~€.-\..'u who i personally known or provided _
as identification.
OCEAN SUNRISE ASSOCIATES,
LLC., a Florida limited liability
company
STATE OF FLORIDA )
COUNTY OF \.-e-e )
SWORN to (or affIrmed) and subscribed before me thisc;)'f day of ::.f1J' f~
2008 by "bn\J~as:r- -c..oTct~\n who is personally known or provided_
., .den@cation. I - ~ ~Cl ~~
KAREN J.1SOlA :-:-/W -=-+
Notary Public
3
Monroe County hereby accepts the assigned, transferred and donated above-referenced
ROGO exemptions from Ocean Key and Ocean Sunrise.
MONROE COUNTY, FLORIDA, a
Political subdivision of Florida
By:
MAYOR MARIO DE GENNARO
A TIEST this
day of
2008.
DANNY L. KOHLAGE, CLERK
Deputy Clerk
MONROE COUNTY ATTORNEY
APPROVED AS FORM:
~
SUSAN M. G
ASS~':-1 COUN
Date ~A-
4
?r