Reso 2012-1913 - Laserfiche WebLink

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WHEREAS, the City Commission agrees to authorize the transfer of the TDRs contemplated herein in accordance with its transfer of development rights ordinance and to permit a contingent payment arrangement. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are true and correct and are incorporated herein by reference as if they are fully set forth herein. Section 2. Authorizing the Transfer of Development Rights. Pursuant to Section 265 -23 of the City Code and in accordance with Zoning Resolution No. l2Z -129, the City Commission hereby authorizes the transfer of the development rights on a contingency basis in the amount of 15,000 square feet of floor area and seven (7) dwelling units to Gilco Realty, L.C. a/k/a 18555 Developers, LLC from the City's TDR account. Section 3. Directive to Zoning Administrator. The City's Zoning Administrator or designee is hereby directed to transfer the development rights on a contingency basis from TDR Bank to Gilco Realty, L.C. a/k/a 18555 Developers, LLC, in accordance with Zoning Resolution No. l2-Z-124 Section 4. Authorizing Payment Agreement of the Transfer of Development Rights. If the TDRs are utilized for the site plan, the Applicant shall provide the City with the total payment of Nine Hundred Seventy Five Thousand Dollars ($975,000) no later than six (6) months from issuance of building permit or evidence of actual use, whichever comes first, in accordance with Zoning Resolution No. t2'-L: IZ9 Section 5. Waiver of Initial Deposit and Nullification. The City Commission hereby waives the ten percent (10 %) deposit requirement and hereby directs the Zoning Administrator to rescind the transfer of the TDRs if full payment for TDRs is not received no later than six (6) months from issuance of a building permit or evidence of actual use, whichever comes first, for the approved site plan provided that the TDRs are utilized via the site plan. Section 6. Authority of the City Manager. The City Manager is hereby authorized to do all things necessary to effectuate this Resolution. Section 7. Effective Date. This Resolution shall become effective upon adoption PASSED AND ADOPTED this 10th day of May, 2012. No an S. Edelcup, Mayor ATTEST: Jane A. Hines,.City Clerk Gilco Realty, L.C. a/k/a 18555 Developers, LLC TDR Bank Page 2 of 3