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NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br />Sectionl. Incorporation of Recitals. The foregoing recitals are true and correct and are <br />incorporated herein by reference as if they are fully set forth herein. <br />Section 2. Authorizing the Donation of TDRs from the City to Corner House LLC As an <br />incentive for development, the City Commission hereby approves a donation of transfer of <br />development rights in the amount of the Seventy Five Thousand (75,000) and Thirty Five (35) <br />dwelling units to Corner House, LLC for assignment to La Playa for the Property, however, if La <br />Playa does not utilize the TDRs, La Playa shall have the right to assign the TDRs if the TDRs are <br />not designated for the Property. <br />Section 3. Directive to Zoning Administrator. The Zoning Administrator or their designee <br />is hereby directed to donate the transfer of development rights in the amount of Seventy Five <br />Thousand (75,000) square feet of floor area and Thirty Five (35) dwelling units to Corner House, <br />LLC for the property located at 18801 Collins Avenue. <br />Section 4. Consenting to the Assignment. The City Commission hereby consents to the <br />assignment of the TDRs to La Playa Beach Associated, LLC provided that Corner House; LLC <br />submits to the City Manager or designee a letter confirming the assignment of the TDRs. <br />Section 5. Authority of the City Manager and City Attornex. The City Manager and City <br />Attorney are hereby authorized to do all things necessary to effectuate this Resolution. <br />Section 6. Effective Date. This Resolution shall become effective upop adoption. <br />PASSED AND ADOPTED this 21 st day of January 201$. <br />Georg I. Scholl; Mayor <br />'ATTEST: <br />r <br />.Jane A. Hi s, MMC, City Clerk <br />Corner house LLC TDR Bank Pa -0e 2 of 3 <br />