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PORSCHE OEMIMN <br />-rE7JV /E%'3 MIFIMI <br />F-31 01 <br />April 23, 2012 <br />Ms. Sharon P. Ragoonan <br />Assistant City Manager <br />City of Sunny Isles Beach <br />18070 Collins Ave. <br />Sunny Isles Beach, Fla. 33160 <br />Re: Application for site plan approval: Modification to Porsche Design Tower Miami <br />Approval, Resolution No. 11 -2-123 <br />Dear Ms. Ragoonan: <br />Please accept this application on behalf of Gilco Realty, L.C., a/k/a 18555 Developers, LLC owner of <br />the Golden Nugget property located at 18555 Collins Avenue, Sunny Isles Beach, Florida, for site <br />plan modification approval by the City of Sunny Isles Beach Commission. <br />The City Commission unanimously approved the development of "Porsche Design Residences" (the <br />"Project) "on November 17, 2011. The approved development consists of 132 condominium units with <br />an FAR of 499,468 SF and the purchase of 115,319 TDR's. The site plan modification submitted <br />herein requests (1) changing the designation of the Project to "Porsche Design Tower Miami ", (2) <br />approval to purchase an additional 0.3 Bonus F.A.R. increasing the approved bonuses from 1.5 to 1.8, <br />(3) approval for an increase in the FAR from 500,039 sq. ft. to 528,887 sq. ft., and (4) approval to use <br />only 527,443 SF of the available FAR and 113,946 SF of the purchased TDR's for the Project, and the <br />right to retain 1,373 SF of TDR's for future use on future projects developed by Dezer Properties <br />and/or its assigns <br />Thank you for your prompt attention to this matter and please do not hesitate to call me if you have any <br />questions. <br />Via Hand Delivery <br />APO 2 4 2012 <br />Z 2012 A G1C <br />PLANNING & ZONING DEPT. <br />18555 Developers, LLC - 18001 Collins Avenue, 31 Floor - Sunny Isles Beach, FL 33160 <br />