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RESOLUTION NO. 2018- 1$°1 <br /> A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br /> SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE <br /> TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") IN THE <br /> AMOUNT OF TWENTY SEVEN THOUSAND ONE HUNDRED <br /> FORTY SEVEN (27,147) SQUARE FEET OF FLOOR AREA <br /> ("FAR") AND ZERO (0) DWELLING UNITS TO A3 <br /> DEVELOPMENT, LLC A/K/A THE ESTATES AT ACQUALINA <br /> FOR THE PROPERTY LOCATED AT 17901 COLLINS AVENUE <br /> FROM THE CITY'S TDR BANK ACCOUNT; DIRECTING THE <br /> ZONING ADMINISTRATOR OR DESIGNEE TO TRANSFER THE <br /> TDRS FROM THE CITY'S BANK ACCOUNT IN ACCORDANCE <br /> WITH ZONING RESOLUTION NO. W-Z• ((95- ; AUTHORIZING <br /> FOR THE ADJUSTMENT AND MODIFICATION OF THE CITY'S <br /> TDR BANK; PROVIDING THE CITY MANAGER AND CITY <br /> ATTORNEY WITH THE AUTHORITY TO DO ALL THINGS <br /> NECESSARY TO EFFECTUATE THIS RESOLUTION; <br /> PROVIDING FOR AN EFFECTIVE DATE. <br /> WHEREAS, by Zoning Resolution No.M•I•(( adopted April 19, 2018, the City <br /> Commission approved the zoning application for a modification of an approved site plan submitted <br /> by A3 Development, LLC. a/k/a The Estates at Acqualina ("Applicant") for the transfer of TDRs <br /> in the amount of Twenty Seven Thousand One Hundred Forty Seven (27,147) square feet of floor <br /> area and Zero (0) dwelling units; and <br /> WHEREAS, the Applicant is required to pay a per square foot price of One Hundred <br /> Twenty Five Dollars ($125.00); and <br /> WHEREAS, the City Commission agrees to accept Three Million Three Hundred Ninety <br /> Three Thousand Three Hundred Seventy Five Dollars ($3,393,375.00) from the Applicant for the <br /> payment of Twenty Seven Thousand One Hundred Forty Seven (27,147) square feet of floor area <br /> and Zero (0) dwelling units of TDRs; and <br /> WHEREAS, the property receiving the TDRs is located at 17901 Collins Avenue, Sunny <br /> Isles Beach and is legally described in Zoning Application No. PZ2018-01; and <br /> WHEREAS, the City Commission wishes to approve the transfer of the TDRs <br /> contemplated herein in accordance with its TDRs ordinance. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br /> CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> Section 1. Incorporation of Recitals. The foregoing recitals are true and correct and are <br /> incorporated herein by reference as if they are fully set forth herein. <br /> A3 Development,LLC a/k/a Estates at Acqualina-City 1 DR Bank Page 1 of 3 <br />