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<br />RESOLUTION NO. 2012 - \ ~ 59- <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, APPROVING THE ASSIGNMENT OF 2,644 <br />SQUARE FEET OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") <br />FROM ABUS, LLC ("ABUS") TO CHATEAU BEACH, LLC ("CHATEAU"); <br />PROVIDING THE CITY MANAGER AND THE CITY ATTORNEY WITH <br />THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE <br />THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, Abus, LLC currently owns 2,644 square feet of TDRs and 2 units in a TDR <br />bank established by the City; and <br /> <br />WHEREAS, on February 9, 2012, Abus entered into as assignment of transfer of <br />development rights with Chateau Beach, LLC, wherein Abus assigned and transfened 2,644 square <br />feet ofTDRs held in the account designed for and held for Abus to Chateau Beach, LLC as assignee; <br />and <br /> <br />WHEREAS, the City has reviewed the assignment of transfer of development rights <br />agreement between Abus and Chateau and has no objection to the documentation or assignment of <br />transfer of2,644 square feet ofTDRs to Chateau. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Approving of Assignment. The City hereby approves the assignment of2,644 square <br />feet of TDRs and two (2) units from Abus to Chateau, a copy of the assignment agreement is <br />attached hereto as Exhibit "A" The City shall establish a TDR bank account in the amount of2,644 <br />square feet ofTDRs with 2 units for Chateau. <br /> <br />Section 2. Authority of the City Manager and City Attorney. The City Manager and the City <br />Attorney are authorized to do all things necessary to effectuate this Resolution. <br /> <br />Section 3. <br /> <br />Effective Date. This Resolution shall become effective upon adoption. <br /> <br />PASSED AND ADOPTED this I {(>~ day of February, 2012. <br /> <br /> <br />Page I of2 <br />