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RESOLUTION NO. 2012 - I9?f9 CFN 2014ROOBOOI9 OR Bk 24013 Pes 1240 - 1242; (3p3s) RECORDED 01/31/2014 14 :30:32 HARVEY RUVINr CLERK OF COURT NIANI -DADE COUNTYi FLORIDA A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE TRANSFER AND ASSIGNMENT OF DEVELOPMENT RIGHTS ( "TDRS ") IN THE AMOUNT OF FIFTY EIGHT THOUSAND FIVE HUNDRED (58,500) SQUARE FEET OF FLOOR AREA AND THIRTY (30) DWELLING UNITS FROM RK ASSOCIATES VIII, INC TDR BANK ACCOUNT TO PALERMO BEACH, LLC; AUTHORIZING THE ASSIGMENT OF TDRS IN THE AMOUNT OF FIFTY ONE THOUSAND TWO HUNDRED EIGHTY SEVEN (51,287) OF FLOOR AREA AND TWENTY SEVEN (27) DWELLING UNITS FOR THE RECEIVING SITE LOCATED AT 17141 COLLINS AVENUE; DIRECTING THE ZONING ADMINISTRATOR OR DESIGNEE TO TRANSFER THE TDRS FROM THE BANK ACCOUNT IN ACCORDANCE WITH ZONING RESOLUTION MO. 12 -Z -132; AUTHORIZING THE ADJUSTMENT AND MODIFICATION OF THE TDR BANK ACCOUNT; PROVIDING THE CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, by Resolution No. 2009 -1479, adopted September 17, 2009, the City Commission approved the creation of the RK Associates VIII, Inc. ( "RK Associates ") TDR bank account designated as part of the sale and purchase of 151 Sunny Isles Boulevard , in the amount 58,500 square feet and 30 dwelling units; and WHEREAS, RK Associates has transferred and assigned 58,500 square feet and 30 dwelling units of TDRS to Palermo Beach, LLC (`Applicant ") for use in its development project commonly called Unique project. and WHEREAS, by Zoning Resolution No. 12 -Z -132, adopted November 15, 2012, the City Commission approved the zoning application submitted by the Applicant and approved the utilization of TDRS in the amount of 51,287 square feet of floor area and 27 dwelling units; and WHEREAS, the private TDR Bank balance will be adjusted to reflect the transfer and assignment of TDRS to the Applicant in accordance to Zoning Resolution No. 12 -Z -132, and this Resolution. WHEREAS, the property receiving the TDRS is described as follows: Parcel 1. Portion of Govt. Lot 6 The North 100 Feet of the South 300 Feet of Lot 2, Tatum's Ocean Park Subdivision, according to the Plat thereof, as recorded in Plat Book 10, Page 64, of the Public Records of Miami -Dade County, Florida, lying East of the East Right -Of -Way line of State Road A -1 -A. (17141 Collins Avenue) Transfer & _Assignment Palermo Beach, LLC (Unique) TDR Bank Page 1 of 3