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<br />,~5 16:27 <br /> <br />From-RICHARDS '~Ev 'TTYS <br /> <br />TZT-447-883D <br /> <br />7-244 P,03/11 F-203 <br /> <br />PORTO BELLAGIO PARTNERS. LLC <br />MS. BARBARA BIANCO. MANAGING G.P. <br />17100 N. BAY ROAD <br />SUNNY ISLES BEACH. FL 33160 <br /> <br />October 4, 2005 <br /> <br />City of Sunny Isles Beach, Florida <br />Chris Russo, City Manager <br /> <br />Re: Porto Bellagio Partncrs, LLC Sale ofTDRs to Fort Apache Marina, LLC <br /> <br />Dcar Mr. Russo: <br /> <br />Porto BelIagio Partners, LLC has emered into an Agreement to transfer the <br />dcvelopment rights ('TDRs") for 45 units and 81, 675 square feet to Fort Apache Marina. <br />LLC, said transfer to be effective on or about October 17, 2005. The TDRs being <br />transferred are part of the TDRs tor 120 units and 217, 800 square feet that were obtained <br />by Porto BelIagio in association with thc rC1llaining two (2) acres of Tract "B" of the <br />Porto Bellagio site. It is my understanding that this transfer can be processed <br />administratively without thc requirement of a public hearing and ordinance and therefore <br />can be expedited. <br /> <br />Please confinn to Porto BelIagio's representative, Dave Metzner, at yOur earliest <br />convenience that the City will be able to confirm the transfer of the subject TORs to tbe <br />Purchaser by October 17, 2005, and what other information you might require. <br /> <br />,---, <br /> <br /> <br />M:~Lnsl\DJ\d!ij personal\PORTO BELlA010 P ARTNERSltrhcad.doc <br />