2005 1117 Regular City Commission Meeting

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Summary Minutes: Regular City Commission Meeting November 17,2005 City of Sunny Isles Beach, Florida Providing for an Effective Date. Action: City Clerk Hines read the title and Assistant City Manager Vera reported that they will be submitting 10% of that within the three days. Public Speakers: none Commissioner Goodman moved and Commissioner Iglesias seconded a motion to approve the resolution. Resolution No. 2005-859 was adopted by a voice vote of 5-0 in favor. 100. A Resolution of the City Commission of the City of Sunny Isles Beach, Florida, Authorizing the Transfer of Development Rights ("TDRs") in the Amount of 4,874 Square Feet of Floor Area and Three (3) Dwelling Units to Mansiana Ocean Residences, LLC. from the Sub-Bank Account Owned by Porto Bellagio Partners, LLC.; Directing the Zoning Administrator or Designee to Transfer the TDRs from the Sub-Bank Account in Accordance with Zoning Resolution No. 05-Z-98; Providing for Consent to Transfer TDRs from Sub- Bank Account; Authorizing the Adjustment of the TDR Bank; Providing the City Manager with the Authority to Do All Things Necessary to Effectuate this Resolution; Providing for an Effective Date. Action: City Clerk Hines read the title and Assistant City Manager Vera reported that this comes from Porto Bellagio's strip bank and basically with this and another one is going to the old Sea property, the Paramount, that bank is at zero. City Attorney Ottinot noted a scrivener's error on page 326, on the resolution, the TDRs are coming from Porto Bellagio not Fortune or Related. Public Speakers: none Vice Mayor Thaler moved and Commissioner Iglesias seconded a motion to approve the resolution, as amended. Resolution No. 2005-860 was adopted by a voice vote of 5-0 in favor. lOP. A Resolution of the City Commission ofthe City of Sunny Isles Beach, Florida, Approving an Investment Policy for Surplus Funds; Providing the Interim City Manager and the Finance Director with the Authority to Do All Things Necessary to Effectuate the Terms of this Resolution; Providing for an Effective Date. Action: City Clerk Hines read the title and Mayor Edelcup reported that the City has been operating without a policy and is recommending that this policy be adopted which allows the City Manager and the Finance Department to invest surplus funds in conservative government securities or agencies. He said that the City has approximately $35 - 40 Million of surplus funds in various accounts and this will give us an opportunity to earn interest on that money. Public Speakers: none Vice Mayor Thaler moved and Commissioner Iglesias seconded a motion to approve the resolution. Resolution No. 2005-861 was adopted by a voice vote of 5-0 in favor. 18