www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - April 25, 2017
REVISED April 25, 2017 - Regular Meeting
Agenda Item #29


Subject
Widewaters Bradenton Estoppel Certificate Associated with the Parking Lot Lease Agreement for Use of a County Owned Parcel by the Downtown Hampton Inn & Suites

Briefings
None

Contact and/or Presenter Information
Cheri Coryea, Director, x3468

Action Requested
Authorization for the County Administrator to execute an Estoppel Certificate with Widewaters Bradenton, LLC, associated with the parking lot lease agreement for use of a County owned parcel by the Downtown Hampton Inn & Suites.

Enabling/Regulating Authority

11.1.4 Efficiency in Service Delivery



Background Discussion

In May 2012, Manatee County entered into a Lease Agreement with Widewaters Bradenton, LLC, for a County parcel of land to be used as a parking lot.

The parcel is located diagonally to the Southwest of the Downtown Hampton Inn & Suites and is used for additional hotel customer parking.

Widewaters is in the process of refinancing the Hampton Inn property and their lender requires an estoppel certificate for the parking lot lease. Widewaters wishes to close on their loan as quickly as possible, and is requesting County execution of the Estoppel Certificate.

The County Attorney's Office has reviewed and developed the attached Estoppel Certificate with Widewaters legal representation. 



County Attorney Review
Formal Written Review (Opinion memo must be attached)

Explanation of Other


Reviewing Attorney
Clague

Instructions to Board Records

Please process as soon as possible as Estoppel Certificate is a loan closing requirement. 

Executed Certificate to Paul Regan, pregan1@live.com, and to Elaine.maholtz@mymanatee.org. A fully executed Certificate will be forwarded to Board Records upon execution by Widewaters Bradenton, LLC.



Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  Estoppel Certificate Widewaters.pdf
Attachment:  Estoppel Certificate CAO Response.pdf