Laserfiche WebLink
Preview <br />ay` Da L 4a� <br />C,tr OI suN Apo <br />TO: <br />FROM: <br />DATE: <br />RE: <br />Page 1 of 1 <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947 -0606 City Hall <br />(305) 949 -3113 Fax <br />MEMORANDUM <br />The Honorable Mayor and City Commission <br />Hans Ottinot, City Attorney <br />5/10/2012 <br />Assignment of TDRs from Sunny Isles Property Holdings, LLC ( "SIPH ") <br />to Sunny Isles Beach Associates, LLC ( "SIBA ") <br />RECOMMENDATION: <br />It is recommended that the attached Resolution be approved. <br />REASONS: <br />Sunny Isles Property Holdings, LLC ( "SIPH ") currently owns 127,737 square feet of <br />Transfer of Development Rights ( "TDRs ") along with 50 corresponding residential units. <br />On April 13, 2012 SIPH entered into an agreement with Sunny Isles Beach Associates, <br />LLC ( "SIBA ") to assign and transfer the 127,737 square feet and corresponding <br />residential units to SIBA. SIPH has agreed to waive any claims against the City arising as <br />a result of the transfer. In addition, SIBA has agreed to indemnify and hold harmless the <br />City from any liability as to any claims that may arise between the two parties or any <br />private parties as a result of this transfer. Please note that the assigned TDRs was part of <br />the "Paramount" zoning approval. <br />ATTACHMENTS: <br />Resolution Approving the Assignment of TDRs from Sunny Isles Property Holdings, <br />LLC ( "SIPH ") to Sunny Isles Beach Associates, LLC ( "SIBA ") <br />Assignment of TDRs <br />http: / /sibagenda. sibfl. net /agenda /Preview. aspx ?1temID= 794 &MeetingID= O &MeetingDate =... 5/4/2012 <br />