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yV 11 tll ISS s <br /> tom`_\\s <br /> ;' • <br /> LAND DONATION AND TRANSFER OF DEVELOPMENT <br /> RIGHTS AGREEMENT <br /> This Land Donation and Transfer of Development Rights Agreement("Agreement")made this <br /> IK day of.►.2,,2018,between THE CITY OF SUNNY ISLES BEACH, a Florida municipal <br /> corporation, whose mailing address is 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 <br /> • <br /> ("City") and NDPRE #14, LLC, a Florida Limited Liability corporation, whose mailing address is •• <br /> 9171 South Dixie Highway,Pinecrest, Florida 33156 ("Owner"). <br /> • <br /> RECITALS: • <br /> WHEREAS,the City of Sunny Isles Beach has adopted a policy initiative to increase its green <br /> space areas by accepting real property in exchange for Transfer of Development of Rights ("TDRs") <br /> to enhance the natural environment of the City; and <br /> WHEREAS, the Owner owns certain real property located at 18500 Collins Avenue, Sunny <br /> Isles Beach Florida 33160 in Miami-Dade County, Florida, as more specifically described in Exhibit <br /> "A', attached hereto and incorporated herein by "reference, together with all rights, privileges and <br /> appurtenances thereto belonging the ("Property"); and <br /> WHEREAS, on April 19, 2018, the City Commission approved a Letter of Intent ("LOI"), <br /> attached hereto as Exhibit "B", wherein the Owner agreed to donate the Property to the City in <br /> • <br /> • <br /> exchange for TDRs in the amount of 126,615 square feet of floor area and 56 dwelling units("Navarro <br /> TDRs"); and • <br /> • <br /> • <br /> WHEREAS, upon completion of certain conditions precedent,the Owner agrees to donate the <br /> • <br /> Property to the City and the City agrees to sell the Navarro's TDRs on behalf of Owner; and <br /> WHEREAS,the parties hereto wish to specify the timing,conditions and terms of the donation <br /> of the Property and sale of the Navarro's TDRs. <br /> 1 of <br /> ATTACHMENT"A" <br />