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RESOLUTION NO. 2022 - ?2- 15' <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, <br />FLORIDA, APPROVING THE PURCHASE AND ASSIGNMENT OF TRANSFER OF <br />DEVELOPMENT RIGHTS ("TDRs") IN THE AMOUNT OF 308 SQUARE FEET OF <br />FLOOR AREA RATIO ("FAR") AND ZERO (0) DWELLING UNITS FROM THE CITY'S <br />PUBLIC TDR BANK ACCOUNT TO WEST INVESTMENT DEVELOPMENT & REAL <br />ESTATE LLC; AUTHORIZING THE DEVELOPMENT SERVICES DIRECTOR TO <br />WITHDRAW 308 SQUARE FEET OF FAR AND ZERO (0) DWELLING UNITS FROM <br />CITY'S PUBLIC TDR BANK ACCOUNT AND ASSIGNING THE 308 SQUARE FEET OF <br />FAR TO THE PROPERTY LOCATED AT 17749 COLLINS AVENUE, UNIT 1101; <br />AUTHORIZING THE ADJUSTMENT AND MODIFICATION OF THE CITY'S TDR BANK <br />ACCOUNT; PROVIDING THE CITY MANAGER AND THE CITY ATTORNEY WITH <br />THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS <br />RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. <br />WHEREAS, by Zoning Resolution No. 2adopted on ►� /� 2-02-Z._, the City <br />Commission of the City of Sunny Isles Beach (the "City Commission") approved the Site Plan <br />Modification & Transfer of Development Rights ("TDRs") submitted by West Investment <br />Development & Real Estate LLC ("Applicant") related to the property located at 17749 Collins <br />Avenue, Unit 1101, Sunny Isles Beach, Florida, for intensity increases of the overall Floor Area <br />Ratio (FAR) square footage from 4609 square feet of FAR to 4917 square feet of FAR, an increase <br />of 308 square feet of FAR, as well as for the purchase and assignment of TDRs in the amount of <br />308 square feet of FAR and zero (0) dwelling units; and <br />WHEREAS, the City Commission hereby agrees to approve the sale and assignment of <br />TDRs from the City's public TDR Bank account to the Applicant in the amount of 308 square feet <br />of FAR and zero (0) dwelling units; and <br />WHEREAS, solely the TDRs in the amount of 308 square feet of FAR are being utilized and <br />assigned to the project that is the subject of the Site Plan Modification application for the <br />development project located at 17749 Collins Avenue, Unit 1101, Sunny Isles Beach; and <br />WHEREAS, the City's public TDR Bank account will be adjusted to reflect the withdrawal <br />of 308 square feet of FAR and zero (0) dwelling units to the Applicant and to reflect the TDRs <br />assignment of solely the 308 square feet of FAR for the property located at 17749 Collins Avenue, <br />Unit 1101, Sunny Isles Beach; and <br />WHEREAS, the property receiving the 308 square feet of FAR is described on Exhibit "A" <br />attached hereto; and <br />WHEREAS, the City Commission agrees to authorize the sale and the assignment of the <br />TDRs contemplated herein as an incentive for development pursuant to its Charter and Home <br />Rule Authority. <br />@BCL@C40C7856.docx Page 1 of 3 138 <br />