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<br />RESOLUTION NO. 2006- \ DD2.. <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, ("CITY") AUTHORIZING URBIS AND KEY <br />INTERNATIONAL LLLP., (THE "APPLICANT"), (TDR2006-01) THE <br />TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") IN THE AMOUNT OF <br />EIGHTY ONE THOUSAND SIX HUNDRED SEVENTY FIVE (81,675) <br />SQUARE FEET OF FLOOR AREA AND FORTY FIVE (45) DWELLING <br />UNITS FROM THE TRACT "B" PORTO BELLAGIO BANK AND ONE <br />THOUSAND EIGHT HUNDRED FIFTEEN (1,815) SQUARE FEET AND ONE <br />(1) DWELLING UNIT FROM THE CITY BANK ACCOUNT FOR THE <br />TOTAL TRANSFER OF DEVELOPMENT RIGHTS ("TDRs"), IN THE <br />AMOUNT OF EIGHTY THREE THOUSAND FOUR HUNDRED NINETY <br />(83,490) SQUARE FEET AND FORTY-SIX (46) DWELLING UNITS, <br />PROVIDING FOR THE ACCEPTANCE AND PAYMENT BY THE <br />APPLICANT IN THE AMOUNT $103,000 DOLLARS FOR THE TRANSFER <br />OF DEVELOPMENT RIGHTS FROM THE CITY BANK IN THE AMOUNT <br />OF ONE THOUSAND EIGHT HUNDRED FIFITEEN (1,815) SQUARE FEET <br />AND ONE (1) DWELLING UNIT, PURSUANT TO SECTION 265-23 OF THE <br />CITY'S LAND DEVELOPMENT REGULATIONS (LDR's), AND SITE PLAN <br />APPROVAL, PURSUANT TO SECTION 265-18 OF THE LDR's, TO PERMIT <br />THE DEVELOPMENT OF 20-STORY CONDOMINIUM TOWERS WITH A <br />TOTAL OF 230-RESIDENTIAL UNITS, ON THE PROPERTY LOCATED AT <br />400 SUNNY ISLES BEACH BOULEVARD, SUBJECT TO CONDITIONSj <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />I. RECITALS. <br /> <br />WHEREAS, by Zoning Resolution No 01..- 2..IO~ adopted on October 19, 2006, URBIS <br />AND KEY INTERNATIONAL LLLP., (the "Applicant") commonly known as "Sunny Isles <br />Marina" for the transfer of TDRs' in the amount of 83,490 square feet of floor area and 46 <br />dwelling units; and <br /> <br />WHEREAS, by Zoning Resolution No.200S-784, on April 14, 2005, the City Commission <br />provided the Zoning Administrator or designee with the authority to transfer TDRs from the <br />Porto Bellagio Sub Bank; and <br /> <br />WHEREAS, the Zoning Administrator divided the Porto Bellagio Sub Bank accounts to <br />reflect the distribution ofTDRs; and <br /> <br />WHEREAS, the Porto Bellagio Sub Bank has the following sub-accounts: <br /> <br />I) Urbis and Key International, LLLP @8l,67S square feet <br /> <br />45 units <br /> <br />2) Jerry's Famous Deli, Inc. <br /> <br />@101,640 square feet <br /> <br />56 units <br /> <br />I <br />