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<br />WHEREAS, the TDR Ordinance provides that any property in the City, upon <br />the approval of the City Commission, in its sole discretion, after a public hearing, may <br />be eligible as a sending site, subject to the terms, conditions and limitations of this <br />Ordinance; and <br /> <br />WHEREAS, the TDR Ordinance further provides that certain properties of over <br />three (3) acres in size may be dedicated to and accepted by the City with a grant of <br />TDR's to the applicant of 80 dwelling units per acre and a 3.75 floor area ratio <br />(F.A.R.); and <br /> <br />WHEREAS, 17200 Collins, L TD ("Applicant"), pursuant to the provisions of <br />the TDR Ordinance relating to the transfer of such larger properties to the City, has <br />submitted a complete application to the City requesting approval of conveyance of the <br />property located at 17200 Collins A venue, legally described as set forth on <br />"Attachment A," also known as the "Casino Property" and the transfer of the <br />development rights from the Casino Property to the TDR Bank; and <br /> <br />WHEREAS, staff has reviewed the Application, prepared written findings and <br />recommendations, and advertised the matter for a public hearing in accordance with <br />the notice and hearing requirements required by the LDR's for zoning applications; <br />and <br /> <br />WHEREAS, the City Commission, after a public hearing and consideration of <br />the recommendations of staff, has determined, subject to all of the applicable <br />requirements and conditions of the TDR Ordinance, that the proposed sending site is <br />acceptable for use by the City in accordance with the expressed intent of the TDR <br />Ordinance, subject to certain additional conditions as set forth herein; and <br /> <br />WHEREAS, the applicant acknowledges that upon expiration of 5 years from <br />the date of the City Commission action approving this transfer, its rights to utilize <br />and/or convey any of the transferred development rights granted hereunder shall expire <br />and become null and void. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION <br />OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Acceptance of Conveyance of Casino Site. That the City accepts the <br />conveyance of approximately 3.469 acres (:i: 151,130 square feet) of real property (the <br /> <br />Casino - Conveyance Of 17200 Collins <br /> <br />2 <br />