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RESOLUTION NO. 2026 - 31fO <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 305 SQUARE FEET OF <br />FLOOR AREA RATIO ("FAR") AND ZERO (0) DWELLING UNITS FROM THE CITY'S <br />PUBLIC TDR BANK ACCOUNT TO MIA 43 INC; AUTHORIZING THE PLANNING AND <br />ZONING DIRECTOR TO WITHDRAW 305 SQUARE FEET OF FAR AND ZERO (0) <br />DWELLING UNITS FROM CITY'S PUBLIC TDR BANK ACCOUNT AND ASSIGNING <br />THE 305 SQUARE FEET OF FAR TO THE PROPERTY LOCATED AT 17749 COLLINS <br />AVENUE, UNIT 4301/4302; AUTHORIZING THE ADJUSTMENT AND <br />MODIFICATION OF THE CITY'S TDR BANK ACCOUNT; PROVIDING THE CITY <br />MANAGER AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO ALL THINGS <br />NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE <br />DATE. <br />WHEREAS, by Zoning Resolution No. 26-Z-24, adopted on, , 20 ?,L,, the City <br />Commission of the City of Sunny Isles Beach (the "City") approved the Site Plan Modification & <br />TDRs application submitted by MIA 43 INC (the "Applicant") related to the property located at <br />17749 Collins Avenue, Unit 4301/4302, Sunny Isles Beach, Florida (the "Property"), in the amount <br />of 305 Square Feet of FAR and Zero (0) Dwelling Units From City's public TDR bank account and <br />assigning the 305 Square Feet of FAR solely to the Property; 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 305 square feet <br />of FAR and zero (0) dwelling units; and <br />WHEREAS, the TDRs in the amount of 305 square feet of FAR are being utilized and <br />assigned solely to the development project of the Property; and <br />WHEREAS, the City's public TDR bank account will be adjusted to reflect the withdrawal <br />of 305 square feet of FAR and zero (0) dwelling units solely to the development project of the <br />Property; and <br />WHEREAS, the Property receiving the 305 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 />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, AS FOLLOWS: <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 />@BCL@EC16F069 Page 1 of 3 459 <br />