Reso 2012-1989 - 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. 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 and Assignment of Development Rights. Pursuant to Section 265 -23 of the City Code and in accordance with Zoning Resolution No. 12 -Z -132, the City Commission hereby authorizes the transfer and assignment of the development rights in the amount of 58,500 square feet of floor area and 30 dwelling units to Palermo Beach, LLC. from the TDR account of R.K. Associates VIII, Inc, pursuant to the attached assignment documents. The City Commission further authorizes the assignment of fifty one thousand two hundred eighty seven (51,287) square feet of floor area and twenty (27) dwelling units to Palermo Beach, LLC for the development project called Unique. Section 3. Directive to Zoning Administrator. The Zoning Administrator or designee is hereby directed to transfer the development rights from TDR Bank of Palermo Beach, LLC., in the amount of 51,287 square feet of floor area and 27 dwelling units pursuant to zoning Resolution No. 12 -Z -132. Additionally, the City Commission directs the Zoning Administrator to create a private TDR bank account in favor of Palermo Beach, LLC to hold the amount of 7,213 square feet of floor area and 3 dwelling units. Section 4. Adjustment to TDR Bank. The Zoning Administrator is hereby instructed to make the necessary adjustments to the TDR bank account owned by R.K. Associates VIII, Inc., to reflect the transfer of fifty eight thousand five hundred (58,500) square feet of floor area and thirty (30) dwelling units. The Zoning Administrator is hereby instructed to make the necessary adjustments to the TDR bank account owned by Palermo Beach, LLC to reflect the reduction of fifty one thousand two hundred eighty seven (51,287) square feet of floor area and twenty seven (27) dwelling units. Section 5. Authority of the City Manage. The City Manager is hereby authorized to do all things necessary to effectuate this Resolution. Section 6. Effective Date. This Resolution shall become effective upon adoption. PASSED AND ADOPTED this 15 day of ATTEST: - Jane A. Hines;-City Qllerkk Transfer & Assignment Palermo Beach, LLC (Unique) TDR Bank Page 2 of 3