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<br />RESOLUTION NO. 2005-:I..S.S <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE <br />TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") FROM THE <br />PROPERTY LEGALLY DESCRIBED IN EXHIBIT "A", OWNED BY <br />PORTO BELLAGIO PARTNERS, LLC, IN THE AMOUNT OF 2.5 <br />F.A.R. (263,222 SQUARE FEET) AND 60 DWELLING UNITS PER <br />ACRE (145 DWELLING UNITS) TO THE TDR BANK TO COMPLY <br />WITH THE REQUIREMENTS OF RESOLUTION NO. 2()O~-1 ~</; <br />DIRECTING THE PLANNING AND ZONING ADMINISTRATOR OR <br />DESIGNEE TO TRANSFER THE TDRS; PROVIDING THE CITY <br />MANAGER WITH THE AUTHORITY TO DO ALL THINGS <br />NECESSARY TO EFFECTUATE THIS RESOLUTION; AND <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, Porto Bellagio partners LLC. ("Applicant") has conveyed approximately 2.417 <br />acres of real property legally described as Exhibit "A", owned by Porto Bellagio Partners, LLC, <br />Sunny Isles Beach, Florida to the City; and <br /> <br />WHEREAS, the City has agreed to transfer in accordance with its Land Development <br />Regulations a certain amount ofTDRs to the account established in the TDR Bank for Porto Bellagio <br />Partners LLC.; and <br /> <br />WHEREAS, the City Commission requires the Applicant to comply with the requirements of <br />Resolution No. ;;)(X)S-~S<1 <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Authorizini! the Transfer. The City Commission hereby authorizes the transfer of <br />the development rights from the property legally described in Exhibit "A", owned by Porto Bellagio <br />Partners, LLC, in the amount of 2.5 F.A.R. (263,222 Square Feet) and 60 dwelling units per acre <br />(145 Dwelling Units) to the TDR Bank to comply with the requirements of Resolution No. <br />fifty percent (50%) of which shall be transferred to the account of the City of Sunny Isles Beach. <br /> <br />Section 2. Directive to the Plannini! and Zonini! Administrator. The Planning and Zoning <br />Administrator or designee is hereby directed to transfer the development rights from the property to <br />the TDR Bank. <br /> <br />Section 3. Authority of the City Manai!er. The City Manager is hereby authorized to do all <br />things necessary to effectuate this resolution. <br /> <br />Section 4. <br /> <br />Effective Date. This Resolution shall be effective upon adoption. <br /> <br />R2005-Porto Bellagio Tdr Transfer Alternate <br /> <br />Page 1 of3 <br />