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RESOLUTION NO. 2016-253 <br /> A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br /> SUNNY ISLES BEACH, FLORIDA, AMENDING RESOLUTION <br /> NO. 2014-2339 TO REDUCE THE TOTAL AMOUNT OF <br /> TRANSFER DEVELOPMENT RIGHTS (TDRs) APPROVED FOR <br /> THE MARRIOTT PROJECT LOCATED AT 17700 COLLINS <br /> AVENUE; DIRECTING THE ZONING ADMINISTRATOR OR <br /> DESIGNEE TO MODIFY THE CITY TDRs BANK ACCOUNT IN <br /> ACCORDANCE WITH THIS RESOLUTION; PROVIDING THE <br /> CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS <br /> NECESSARY TO EFFECTUATE THIS RESOLUTION; <br /> PROVIDING FOR AN EFFECTIVE DATE. <br /> WHEREAS, pursuant to Resolution No. 2014-2339, adopted on November 20, 2014, the <br /> City Commission approved the assignment of TDRs from the City Transfer Development Rights <br /> Bank("TDRs Bank") in the amount of 13,766 square feet of floor area and eight(8) dwelling units <br /> of TDRs in favor of the Marriott Project located at 17700 Collins Avenue, Sunny Isles Beach, <br /> Florida; and <br /> WHEREAS, pursuant to Section 265-18 (I)(2)(a) the Project presented a Site Plan <br /> Modification (the "Modification") to the City and on February 16, 2016 the City Manager <br /> administratively approved a Minor Site Plan Modification for the Marriott Project as reflected in <br /> attached Exhibit "A", which reduced the total amount of TDRs original approved for the Project; <br /> and <br /> WHEREAS, the Modification essentially reduced the Project's TDRs from 13,766 square <br /> feet of floor area and eight (8) dwelling units to 9,671 square feet of floor area and six (6) dwelling <br /> units, for a total reduction of 4,095 square feet of floor area and two (2) dwelling units of TDRs; <br /> and <br /> WHEREAS, the equivalent cash value of reduction of the TDRs equals $176,085 Dollars <br /> from the original cash value amount of$591,938 Dollars; and <br /> WHEREAS, the City Commission wishes to amend Resolution No. 2014-2339 to reflect <br /> a reduction in the amount of TDRs approved for the Project. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br /> CITY OF SUNNY 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 /> Section 2. Authorizing the Zoning Administrator to Adjust the City TDRs Bank. Pursuant to <br /> Section 265-23 of the City Code, the City Commission hereby amends Resolution No. 2014-2339 <br /> to reflect a reduction in the total amount of TDRs approved for the Marriott Project in accordance <br /> with the approval of a Minor Site Plan Modification and authorizes the Zoning Administrator to <br /> Marriott,Reduction of 1'DR Page 1 of 2 <br />