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A showdown is looming between the Miami City Commission and Flagstone Island Gardens that could see the city boot the developer from one of the most valuable pieces of waterfront land in South Florida.

Miami Commissioner Ken Russell on Thursday announced his desire to declare Flagstone in default of its amended 2010 lease for the southwest corner of publicly owned Watson Island. Flagstone has held the property for about 15 years, going back to when the public approved a mega-yacht marina, hotel and shopping complex in 2001.

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