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f CFN 201480080025 OR Bk 29013 Fes 1258 - 1260; (3ae0 RECORDED 01/31/2014 14:30:32 HARVEY RUVIttr CLERK OF COURT MIAMI -DADE COUNTYr FLORIDA RESOLUTION NO. 2013 - 71a9 A RESOLUTION OF THE CITY COMNIISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE TRANSFER OF DEVELOPNIENT RIGHTS ( "TDRS ") IN THE AMOUNT OF ONE HUNDRED THOUSAND TWO HUNDRED AND TWENTY (100,220) SQUARE FEET OF FLOOR AREA AND FORTY SEVEN UNITS (47) TO ST. TROPEZ BEACH DEVELOPERS, LLC. ET AL. FOR THE PROPERTY LOCATED AT 290 -330 SUNNY ISLES BOULEVARD AND 16690 COLLINS AVENUE FROM THE CITY'S TDR BANK ACCOUNT AND A PRIVATE TDR BANK ACCOUNT; DIRECTING THE ZONING ADMINISTRATOR OR DESIGNEE TO TRANSFER THE TDRS FROM THE CITY'S BANK ACCOUNT AND PRIVATE TDR BANK ACCOUNT IN ACCORDANCE WITH ZONING RESOLUTION AMENDING RESOLUTION NO. 2006 - 959; AUTHORIZING THE ADJUSTMENT AND MODIFICATION OF THE CITY'S TDR BANK AND OF THE PRIVATE TDR BANK; PROVIDING THE CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, by Zoning Resolution No.l -1 adopted on October 17, 20L3 the City Commission approved the zoning application submitted by St. Tropez Beach Developers. LLC et. al. ( "Applicant ") for the transfer of TDRS in the amount of 100,220 square feet of floor area and 32 dwelling units: and WHEREAS, the City's TDR Bank balance will be adjusted to reflect the sale of TDRS to the Applicant to reflect the reduction of Thirty Eight Thousand Fifty Eight (38,058) square feet of floor area and Eighteen (18) dwelling units; and WHEREAS, pursuant to Section 265 -231) of the Code of the City of Sunny Isles Beach, the City Commission shall consider the acceptance of the appraised land value in the amount of Sixteen Million Three Hundred Fifty Thousand Dollars (S16,350,000) for the receiving site for the purpose of calculating the square foot value of the approved TDRs: and WHEREAS, the Applicant is required to pay a per square foot price of S20.00 as agreed between the Applicant and the City; and WHEREAS. the City Commission agrees to accept Seven Hundred Sixty One Thousand One Hundred Sixty Dollars ($761,160) from the Applicant for the transfer of Thirty Eight Thousand Fifty Eight (38,058) square feet of floor area and Three (3) dwelling units: and WHEREAS, by Resolution No. 2006 -959 adopted on July 20, 2006, the City approved the transfer of Thirty Two Thousand Seven Hundred Fifty Nine (32,759) square feet and Zero St. Tropez Beach Developers, LLC. City & Private TDR Bank Page ] of 3 3