Resolution Zoning 15-Z-152 - Laserfiche WebLink

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• event that the Applicant has done so and prior to issuance of the Certificate of Occupancy the Applicant shall acquire the following floor area ratio bonuses: ' a) Beach Access Trust Fund 0.20 FAR S 897,408 b) Beach Access Easement 0.10 FAR $ 0.00:(') c) Public Beach Rec. Enhancement 0.60 FAR $ 2,692,224 d) Collins Ave Streetscape 0.60 FAR $ 2,692,224 e) Sunny Isles Public Parking 0.20 FAR $ 897,408 f) Public Recreational Open Space 0.20 FAR $ 0.00,(*) g) Educational and Cultural 0.20 FAR $ 897,408 The FAR bonus program consists of participation units, which in this case are equal to 36 participation bonus units (where each participation unit has a value of 0.05 FAR). In detail, the bonus formula is the lot size (acres), times the participation units, times the price tag of the participation unit, for this case is as follows: • 3.116 (acres) x 36 (participation units) x $72,000 (price tag/participation unit) = $8,076,672 The total contribution for all Floor Area Ratio bonuses for the development is $8,076,672 for a total increase in floor area ratio of 2.1 for a floor area ratio of 46. The Applicant shall provide the City with a non-refundable deposit in the amount of ten percent (10%) of the approved purchased price of$8,076,672 for the FAR bonuses acquired from the City. The total amount of the deposit is $807,667. Failure to pay the required deposit within the three (3) working days of approval of the site plan application shall result in an automatic voiding of the City Commission site plan approval. 14. The Applicant shall pay all fees related to the review of the application described herein and shall have paid all other fees due to the City. 15. The Applicant shall submit a revised traffic study no later than June 1, 2015, addressing comments by City's Consultant. The City Manager or his designee shall review and provide additional comments if necessary. 16. That the Applicant shall address comments provided by City's Landscaping Architect regarding landscaping plans submitted during site plan review process. 17. That the Applicant shall address comments provided by City's Civil Engineer regarding civil plans submitted during site plan review process. Conditions to be completed before any Certificate of Occupancy is issued. 18. That the Applicant shall underground all utility lines in front ofthe proposed project condominium complex. The City may request additional easements for the purpose of undergrounding utilities. At the time of underground utility lines for the project, the Applicant shall also install decorative sidewalk pavers consistent with decorative sidewalk pavers installed by the City on the west side of Collins Avenue. The decorative sidewalks 9 UVLANNING&ZONING2008■ZONING HEARING-APPLICATIONS"2015 APPLICATIONIPZ2015-06 ArmaniICASA