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ZONING (Continued) <br />According to Ordinance No. 2002-147 the City of Sunny Isles Beach will allow the transfer of <br />development rights from lands acquired by the city, currently utilized as public open space, parks, <br />recreational facilities, community facilities and cultural facilities, to proposed development sites <br />within the various districts. As such, a receiver will be allowed to obtain these TDR's, thereby, <br />increasing the density and FAR of the development site. However, in no case, shall the density or <br />intensity be increased by more than 30% of the maximum permitted by the land use category. <br />Summary <br />The following table illustrates the existing and potential development rights for the subject property. <br />Miami Beach Club <br />AR Calculation <br />Site Size SF 87,660 <br />AR Criteria: <br />Amount <br />FAR Gross SF <br />Base <br />2.50 <br />219,150 <br />Bonuses: <br />Beach Access <br />0.10 <br />8,766 <br />Public Oceanfront Park & Open Space Enhancement <br />0.20 <br />17,532 <br />Beach Access Trust Fund Contribution <br />0.20 <br />17,532 <br />Public Beach Recreational Enhancement <br />0.60 <br />52,596 <br />Collins Avenue Public Street-scape Enhancement <br />0.60 <br />52,596 <br />Sunny Isles Parking <br />0.20 <br />17,532 <br />Educational & Cultural Infrastructure <br />0.20 <br />17,532 <br />Total Bonus FAR <br />2.10 <br />184,086 <br />Total Base & Bonus FAR <br />4.60 <br />403,236 <br />Max. TDR @ 30% <br />1.38 <br />120,971 <br />Total Allowable FAR <br />5.98 <br />524,207 <br />The development program calls for the construction of a 62-story, residential -condominium, tower <br />with145 units and 483,150 square feet of saleable area. The subterranean and two above -ground <br />level, parking garage will provide 298 parking spaces, including tandem parking. A copy of the <br />preliminary site plan and floor plans is included in the addenda. <br />26 <br />564 <br />