AGENDA ITEM REPORT
TITLE:
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A MOTION TO APPOINT SHEILA ROSE AS THE CITY’S PROXYHOLDER TO VOTE AND TAKE SUCH OTHER ACTIONS ON BEHALF OF THE CITY OF COCONUT CREEK TO PRESERVE THE CITY’S INTERESTS AS A PROPERTY OWNER AND MEMBER OF THE COMMERCE CENTER OF COCONUT CREEK ASSOCIATION, INC., AND AUTHORIZE THE MAYOR, OR DESIGNEE, TO EXECUTE THE MEMBER PROXY FORM TO BE FILED WITH THE SECRETARY OF THE ASSOCIATION.
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BACKGROUND:
As the owner of Tract E of the Commerce Center of Coconut Creek Plat, specifically the parcel of land located at NW 40 Street, Coconut Creek, Florida 33073, and a member of the Commerce Center of Coconut Creek Association, Inc., hereinafter “Association,” the City of Coconut Creek is entitled to one (1) vote for each acre or portion thereof of the total property owned by the City that is located within the Association. In order to exercise its voting rights, the City Commission must name a voting representative as its proxyholder, and authorize the Mayor, or her designee, to execute the attached form.
DISCUSSION:
Since July 1996, Seminole Properties II, Inc. has been the Declarant of the Association in accordance with the Assignment and Assumption of Declarant’s Rights, recorded in Official Records Book 2515, Page 263 of the Public Records of Broward County, Florida, July 19, 1996. However, with the properties recently being accepted into the Trust, a Board of Directors must be appointed to manage the Association’s business. A Board cannot be elected unless a quorum is represented at the annual meeting of the Association Members. Upon completion of the attached proxyholder form, the City Clerk Department must forward a copy to the Association’s Secretary, c/o United Community Management Corporation, 11784 West Sample Road, Suite 103, Coral Springs, FL 33065.
RECOMMENDATION:
Staff recommends approval of this motion.
FISCAL IMPACT: N/A