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OF SiJW h�G <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />� • Fl4Fi 4 <br />C,rt <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />VIA: Stan Morris, City Manager <br />FROM: Planning and Zoning <br />DATE: December 16, 2021 <br />RE: Approving the Purchase and Assignment of Public TDRs for the Acqulan< <br />Resort and Spa, Unit 4806 <br />RECOMMENDATION: <br />Staff recommends approval of this Resolution. <br />REASONS: <br />According to the Site Plan Modification and Transfer Development Rights applications (PZ2021-21) <br />the Applicant is requesting to approve the purchase and assignment of Public Transfer Developmeni <br />Rights (TDRs) in the amount of 343 square feet of Floor Area Ratio (FAR) and 0 dwelling units with a <br />adjustment from the City TDRs bank in the amount of 343 square feet of FAR and 0 dwelling units. Thi <br />City shall consider the acceptance of the appraised land value of $125.00 per square feet, for a total of <br />$42,875.00 for the TDR's purchase. The Applicant shall provide the City with a non-refundable amourr <br />of the approved purchased price within the ten (10) working days of approval of the Transfer <br />Development Rights (TDRs) application. <br />ATTACHMENTS: <br />Resolution <br />TDR Application <br />Item Number: 10.A <br />