Ordinance 2003-188 - Laserfiche WebLink

Home Browse Search

Section 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by reference as if they fully set forth herein. Section 2. Approval of Appraised Land Value. The City Commission hereby approves the appraise land value of one million twenty-eight thousand ($1,028,000) dollars ("Appraised Value"), for the Receiving Site, Section 3. Final Approval of Payment for TDR's. Based on the Appraised Value set forth in Section 2 hereinabove, the City Commission hereby approves the payment of one hundred-sixty thousand nine hundred twenty ($160,920) dollars for the transfer of eighteen thousand (18,000) square feet and eighteen (18) units from the City's TDR's to the Receiving Site. Section 4. Adjustment of Bank Balance. Upon acceptance of payment for the TDR's based on the Appraised Value, the Bank's balance will be adjusted to reflect a decrease of thirty one thousand two hundred sixty-six (31,266) square feet and eighteen (18) units (as opposed to eighteen thousand (18,000) square feet. Section 5. Authority of the City Manager The City Manager is hereby authorized to do all things necessary to effectuate the transfer of rights, including directing the City Clerk to record such transfer and directing the Planning and Zoning Administrator to adjust the Bank balances currently outlined on Exhibit "A". Section 6. Repealer. All ordinances or parts of ordinances in conflict herewith be and the same are hereby repealed. Section 7, Effective Date. This ordinance shall become effective ten (10) days after the adoption on the second reading. PASSED and ADOPTED on first reading this I~;#' day of .Mooe~beY 2003, PASSED and ADOPTED on second reading this 4+~ day of J)<t-CcJY\~003, #".. ..",~{ 42'''"'-.. A TTEST:(. ~ . ,." ...",:;- .J '\ l, ',1,/ \. (j' . .\,.~ , ~ .. TORs Transfer to King David Page 2 of 3