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<br />Address: 17475 Collins Avenue <br /> <br />WHEREAS, the City Commission agrees to authorize the transfer of the TDRs <br />contemplated herein in accordance with Section 265-23 of the City Code. <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. 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 /> <br />Section 2. Authorizing the Transfer of Development Rights. Pursuant to Section 265-23 of <br />the City Code and in accordance with Zoning Resolution No.\1-- Z. IU, the City Commission <br />hereby authorizes the transfer of the development rights in the amount of 62,644 square feet of <br />floor area and 32 dwelling units to Chateau Beach, LLC from the TDR sub-accounts of Abus <br />Sunny Isles, LLC, from the sub-account of the Gold Club, Inc., and from the sub-account of the <br />Chateau Beach, LLC. <br /> <br />Section 3. Directive to Zoning Administrator. The Zoning Administrator or designee is <br />hereby directed to transfer the development rights from TOR Bank to Chateau Beach, LLC in <br />accordance with Zoning Resolution No.\Z''Z.'''U... <br /> <br />Section 4. Consent to Transfer from Sub-Bank Accounts. The consent to transfer TDRs from <br />the accounts owned by Abus Sunny Isles, LLC and Gold Club, LLC to the Chateau Beach, LLC <br />Bank reflected in the attached assignment Agreements is hereby approved. <br /> <br />Section 5. Adjustment to TDR Bank. The Zoning Administrator is hereby instructed to make <br />the necessary adjustments to the TDR account owned by Chateau Beach, LLC, and to make the <br />necessary adjustments to the City of Sunny Isles Beach TDR Bank to reflect the reduction of <br />sixty two thousand six hundred forty four (62,644) square feet of floor area and thirty two (32) <br />dwelling units. <br /> <br />Section 6. Authority of the City Manager. The City Manager is hereby authorized to do all <br />things necessary to effectuate this Resolution. <br /> <br />Section 7. <br /> <br />Effective Date. This Resolution shall become effective upon adoption. <br /> <br />PASSED AND ADOPTED this \~ day of M.M..W- <br /> <br /> <br /> <br />~ <br /> <br />lime A. Hines, City Clerk <br /> <br />Chateau Beach, LLC TDR Bank Page 2 of 3 <br />