The Broward County Commission has voted to terminate all further negotiations with Peebles Atlantic Development Corp., when the Miami-based hotel development company rejected proposed revisions to a fourth amended lease on the county-owned site.
By rejecting the revisions, the commissioners argued, the Miami company defaulted on the ground lease.
"We're not surprised by the commission's actions," Michelle Kohler, a Peebles Atlantic vice president, tells GlobeSt.com. "We believe the lease is in full force and effect and disagree that the commission had the right to declare us in default. In fact, we believe it is the county that is in breach of the ground lease. We are evaluating our options with legal counsel and will proceed accordingly."
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