R14-126 1
1 RESOLUTION NO. R14 -126
2
3 A RESOLUTION OF THE CITY OF BOYNTON
4 BEACH, FLORIDA, APPROVING A SETTLEMENT
AGREEMENT WITH YACHTSMAN PROPERTIES,
E LLC., IN THE AMOUNT OF $70,000.00 FOR
UNDERBILLED WATER, SEWER AND GARBAGE
SERVICES; AUTHORIZING THE MAYOR AND CITY
I CLERK TO SIGN A RENEWAL AGREEMENT; AND
1 e PROVIDING AN EFFECTIVE DATE.
1
1. WHEREAS, in 2011, the City discovered a billing error for water, sewer and
1 garbage services for property owned by Yachtsman Properties, LLC., in the amount of
1 $67,000.00; and
I
1. WHEREAS, as of October 20, 2014, the bill for services had accrued to
1: $124,827.23; and
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1 WHEREAS, the property is under contract to be sold and Yachtsman approached
1 the City with a request to settle the outstanding balance in the amount of $70,000.00; and
1 WHEREAS, the City Commission of the City of Boynton Beach, upon
211 recommendation of staff, deems it to be in the best interests of the residents and citizens of
21 the City of Boynton Beach to approve the Settlement Agreement with Yachtsman
;
i
2 ' Properties. LLC., in the amount of $70,000.00 for underbilled water, sewer and garbage
2 s services.
I
21: NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
1
4 ' THE CITY OF BOYNTON BEACH, FLORIDA, THAT: '
2 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed
1
2' , as being true and correct and are hereby made a specific part of this Resolution upon
i
2$ adoption.
C \ Users \prainitoi\AppData \Local \Microsoft \Windows \Temporary Internet Files \Content IE5 \TJSA2KNN \Reso
_Yachtsman_Properties_ Settlement _Agreement_for_underbdled_water docYachtsman Properties Settlement Agreement for
underbilled water
•I Section 2. The City Commission hereby approves the Settlement Agreement
2 with Yachtsman Properties, LLC., for underbilled water, sewer and garbage services and
3 authorizes the Mayor and City Clerk to sign the Settlement Agreement, a copy of which is
4 attached hereto as Exhibit "`A ".
Section 3. That this Resolution shall become effective immediately.
PASSED AND ADOPTED this 2 day of December, 2014.
g 1 CITY OF BOYNTON BEACH FLORIDA
1 NO J .71/41` ti , i .
1 L .F — Je r ' aylo
1 i
1 ; NO _ [ A, _ '04 I `
1 Vise Mayor Joe Casello
1' •
1 1E YES 1 di Kt `r.
1'
Commissi • • - :: • • . Merker
1.;
1's YES 'i�
20 • •• •- • loner — Mac ray
2 - `
•
F
2' YES '/.
2 ; Commissioner — Michae . Fitzpatrick
2.! 3 -2
2;, Vote
2•
241 ATTEST:
21
31) ?
3
3' Ja t M. Prainito, MMC
3; ity Clerk
3 G y Ofi,
3. . ate
3,
Ca . Ii
0 t V•
tirO "N IP
C ', Users \prainitoi\AppData \Local \Microsoft\Windows \Temporary Internet Files \Content 1E51TJSA2KNN\Reso_-
_Yachtsman_Properties_ Settlement_ Agreement_for_underbilled_water docYachtsman Properties Settlement Agreement for
1
underbilled water
SETTI.EMENT AGREEMENT
This Agreement is entered on this l2 day of Decealhc „ 2014 by and
between the City of Boynton Beach, a Florida municipal corporation (hereinafter the "City").
(hereinafter referred to as the "Seller "), and Banyan Development, LLC
f /k/a Yachtsman Properties, LLC (hereinafter referred to as "Yachtsman" ). with regards to that
certain real property known as Yachtsman Plaza located at 1550 - 16t)4) N. Federal Highway,
Boynton Beach, FL (hereinafter the "Property"
RECITALS
WHEREAS, Yachtsman purchased the Property in 2005, and
WHEREAS, the City provides water sewer and garbage services (the "Services') to the
Property, and
WHEREAS, in 2011, the City discovered it had underbtlled Yachtsman for Services 0
provided to the Property, and
WHEREAS, upon discovery of the underbilling, the City appropriately billed Yachtsman
for the Services It provided in prior years, and
WHEREAS, this resulted in approximately $67 000 of charges being added to
Yachtsman's bill, and
WHEREAS, as of October 20 2014. Yachtsman's bill for Services had accrued to
$ 1 24.827 23, and
WHEREAS, the Property is undei contract to be sold to a third party on December 17,
2014, and
WHEREAS, due to financial and real estate decline in recent _years Yachtsman
approached the City with a request to settle the outstanding balance, and
WHEREAS, the City and Yachtsman have agreed to settle the outstanding bill for
Services for $70,000, contingent upon the Property being sold to an independent third party
within 90 days, and
WHEREAS, the City has agreed to settle the outstanding bill for Services to avoid the
time and ekpense of collections and litigation, and to facilitate the sale of the Property to a third
party which intends to redevelop the Property
NOW THEREFORE in consideration of the mutual promises detailed herein and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged
the Parties hereby agree as follows
GTXb'.30 1 1O6 -9fA L81l
1 1 he City agrees to accept and Yachtsman agrees to pay the amount of $70,000 00 as
payment in full for the Services provided to the Property
2 1 his Settlement Agreement is contingent upon the Property transferring title to an
independent third party within ninety (90) da'ts of the City Commission's approval of this
Agreement
3 This Settlement Agreement shall be null and 't Old if the Property is not sold within ninety
(90) days of City Commission approval
4 It is further agreed that no modification, amendment or alteration in the teens or conditions
contained herein shall be effective unless contained in a written document executed with
the same formality and of equal dignity herewith
IiN WITNESS WHEREOF. the parties hereto have executed this AGREEMENT in multiple
copies, each of which shall be considered an original on the following dates
DA I'EI) this I day of � t� m b r , 20 lr
Cl FY OF BOYNTON BEACH, a Honda
Mum ipal Corporation
A I'1 EST / C� G'
Je Tavlor
Mhyor
- Pt...(;LL
net M Prainito, CMC
ity Clcrl,
(Seal)
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY CA X
0 v
James A Cherof T N
City Attorney
p 1047no 1 306-9001811 r
BANYAN DEVELOPMENT, LLC
WITNESSES
}Ow- BY:
Andrew Cohen, President
_ •
STATE OF FLORIDA )
COUNTY OF BROWARD )
BEFORE ME, an officer duly authorized by law to administer oaths and take
acknowledgments, personally appeared A N oR e Crn e /NJ , of
10,3L,-)-1 c 4 Ai 1 , and acknowledged that he /she executed the foregoing Agreement as the
for the use and pu mentioned in it and that the instrument is his/her act and deed, who is
personally known to me or has produced as identification.
IN WITNESS WHEREOF, I have set my hand and seal in the State and County aforesaid
this i t day of p e L e /5 j Li , 2014.
NOTARYPUBLIC
Pnnt or Type Name
MARILYN SHAPERA My Commission Expires:
,,
r° 1 Notary Public - State of Florida
My Comm. Expires Jul 27. 2017
1 =: t i p - • 4 0. commission • FF 034e12
` ; �� Bernal Thou. Wont Notary Aso.
{00047230 1 306-9001821}