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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, ASFOLLOWS: <br />Section 1. Incorporation of Recitals. The foregoing recitals are true and correct and are <br />incorporated herein by reference as if they are fully set forth herein. <br />Section 2. Authorizing the Sale and Assignment of TDRs from Navarro to Applicant. The City <br />Commission hereby approves the S8|e and assignment of Transfer Of D8v8|OpnO8nt Rights <br />(°TDRs") in the amount V[I14,471 square feet of FAR and fifty-one (51) dwelling units from 8 <br />PriVateTDR Bank account designated for Navarro to Applicant, at the rate of$22G per square <br />foot. The City Commission further approves the Assignment of Transferable Development Rights <br />Agreement, attached to this Resolution as Attachment "A", and incorporated herein byreference. <br />Applicant shall submit t0the City payment in accordance with said Assignment ofTransferable <br />Development Rights Agreement. <br />Section 3. Authorizing the Withdrawal and Assignment of TDRs. The City Commission hereby <br />authorizes the Development Services Director to withdraw 114,471 square feet of FAR and fifty- <br />one (51) dwelling units from the Private TDR Bank account designated for Navarro and to assign <br />114,47Isquare feet O[FAR and Twenty -Eight /Z8\dwelling units for the development project for <br />the property located atlO4OICollins Avenue, Sunny Isles Beach, Florida approved under Zoning <br />Resolution NO.��7-* 0�� and extinguish Twenty -Three (2]) UD8SsiDDed dwelling'units, at the <br />times and manner set forth iOthe Assignment OfTransferable Development Rights Agreement, <br />attached hereto 8sAttachment "A". <br />Section 4. Authority of the City Manager and City Attorney. The City Manager and City <br />Attorney are hereby authorized to do all things necessary to effectuate this Resolution. <br />Section 5. Repealer. All Resolutions orparts OFResolutions iD conflict herewith shall beand <br />are hereby repealed. <br />Section 6. Effective Date. This Resolution shall become effective upon adoption. <br />12 <br />APPROVED AS TO FORM <br />AND LEGAL SUFFICIENCY: <br />*1 � ) 03�-� <br />Ma4iO Betan�ur, CIVIC, City Clerk Edward A. Dion, City Attorney <br />R2021 Private TDRs NDPRE to Bentley Revised Page 2 of 3 <br />