A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING, FOLLOWING FIRST READING/PUBLIC HEARING, A DEVELOPMENT AND GROUND LEASE AGREEMENT AS AUTHORIZED, RESPECTIVELY, UNDER SECTION 118-4 OF THE CITY CODE, SECTIONS 163.3220 - 163.3243, FLORIDA STATUTES, AND SECTION 82-37 OF THE CITY CODE, BETWEEN THE CITY AND MB MIXED USE INVESTMENT, LLC (“MIAMI BEACH CONNECT”), FOR THE DEVELOPMENT OF A CONVENTION HOTEL WITH UP TO 800 ROOMS AND RELATED FACILITIES, INCLUDING UP TO 60,000 SQUARE FEET OF CONFERENCE AND BALLROOM FACILITIES, AND UP TO 52,000 SQUARE FEET OF ACCESSORY RETAIL AND RESTAURANT FACILITIES TO SERVICE HOTEL GUESTS AND THE PUBLIC (THE “HOTEL”), ON AN APPROXIMATELY 2.6 ACRE SITE ON THE NORTHEAST CORNER OF 17TH STREET AND CONVENTION CENTER DRIVE, BOUNDED ROUGHLY BY THE MIAMI BEACH CONVENTION CENTER TO THE NORTH, 17TH STREET TO THE SOUTH, THE FILLMORE MIAMI BEACH AT THE JACKIE GLEASON THEATER TO THE EAST, AND CONVENTION CENTER DRIVE TO THE WEST (THE “LEASED PROPERTY”); DELINEATING THE CONDITIONS FOR THE DESIGN, CONSTRUCTION, EQUIPPING AND OPERATION OF THE HOTEL ON THE LEASED PROPERTY WITH NO CITY FUNDING THEREFOR; PROVIDING FOR A 99-YEAR TERM OF THE LEASED PROPERTY ONCE CERTAIN CONDITIONS ARE SATISFIED; PROHIBITING GAMBLING ESTABLISHMENTS ON THE LEASED PROPERTY; AND PROVIDING FOR ANNUAL BASE RENT TO THE CITY, AFTER THE HOTEL OPENS, OF THE GREATER OF MINIMUM FIXED RENT OR A FIXED PERCENTAGE OF THE GROSS REVENUES OF THE HOTEL, AMONG OTHER RENT; AND FURTHER SETTING THE SECOND PUBLIC HEARING AND FINAL READING OF THE DEVELOPMENT AND GROUND LEASE AGREEMENT FOR A TIME CERTAIN.