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} <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 the City's public TDR account <br />to MB RE INVESTMENTS, LLC. The City Commission hereby approves the sale and assignment of <br />TDRs in the amount of 120,972.18 square feet of floor area and Forty -Eight (48) dwelling units <br />from the City's public TDR account to the Applicant. The Applicant has agreed to pay the square <br />foot value of $125.00, thus the total TDR purchase is $15,121,522.50. <br />Section 3. Authorizing the Withdrawal and Assignment of TDRs. The City Commission hereby <br />authorizes the Planning and Zoning Director to withdraw 120,972.18 square feet of floor area <br />and Forty -Eight (48) dwelling units from the City's public TDR account and to assign 120,972.18 <br />square feet of floor area solely for the development project of the Property approved under <br />Zoning Resolution No. 26-Z- 2-Z . <br />Section 4. Directive to Development Services Director. The Planning and Zoning Director or <br />their designee is hereby directed to adjust the City's public TDR account to reflect the withdrawal <br />of TDRs in the amount of 120,972.18.square feet of floor area and Forty -Eight (48) dwelling units <br />according to Zoning Resolution No. 26-Z- 2-1-2—t - <br />Section 5. 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 6. Repealer. All Resolutions or parts of Resolutions in conflict herewith shall be and <br />are hereby repealed. <br />Section 7. <br />ATTESTn. <br />Effective Date. This Resolution shall become effective upon adoption. <br />PASSED AND ADOPTED this 19th day of Fe ruar 2026. <br />Mauridio Betandur, CIVIC, City Clerk <br />Larisa Svechin, Mayor <br />APPROVED AS TO FORM <br />AND LEGAL SUFFICIENCY: <br />. .71 �& =. <br />ain E. Boileau, for Nabors, Giblin & <br />Nickerson, P.A., City Attorney <br />R2026 TDRs for MB RE Investments 19501 Collins.docx Page 2 of 3 <br />