According to RE:MiamiBeach, the Miami Beach City Commission, which gave COVID-19 rent deferments for its nearly 100 commercial tenants in July, is now working on a strategy to proceed into the next phase of recovery, with a desire to balance its hope to retain tenants against its financial responsibilities.
Miami Beach City Manager Jimmy Morales, in a memo to the Commission’s Finance and Economic Resiliency Committee, stated: “To date, some neighboring municipalities have instituted rent deferment with the obligation to pay it back, but none have provided rent forgiveness as the City has.”
At the same time, one of the City’s long-term tenants, Smith & Wollensky, took the initiative to pay approximately $365,000 it owed in deferred rent. Shutts & Bowen Miami Partner Alex Tachmes, who represents the restaurant’s Miami Beach operations, recently sent a letter to the City, stating: “Smith & Wollensky has been a tenant of the City for more than 20 years and we are grateful for the wonderful relationship we have established with the City. And we would like to do our part.”
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About Alexander I. Tachmes
Alexander I. Tachmes is a partner in the Miami office of Shutts & Bowen LLP, where he is Chair of the Land Use and Government Relations Practice Group and a member of the Real Estate Practice Group. A Martindale-Hubbell AV® rated attorney, Alex concentrates his practice on governmental matters, including land use and zoning, public-private transactions, competitive bidding and lobbying, and commercial real estate transactions, including hospitality matters.