Laserfiche WebLink
RESOLUTION NO.2021 - <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, APPROVING THE PURCHASE AND <br />ASSIGNMENT OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") <br />IN THE AMOUNT OF 11,861 SQUARE FEET OF FLOOR AREA RATIO <br />("FAR") AND FIVE (5) DWELLING UNITS FROM A PRIVATE TDR <br />BANK ACCOUNT OF NDPRE #14, LLC ("ASSIGNOR") TO A3 <br />DEVELOPMENT, LLC; APPROVING THE ASSIGNMENT OF <br />TRANSFERABLE DEVELOPMENT RIGHTS; AUTHORIZING THE <br />DEVELOPMENT SERVICES DIRECTOR TO WITHDRAW 11,861 <br />SQUARE FEET OF FAR AND FIVE (5) DWELLING UNITS FROM THE <br />AFOREMENTIONED PRIVATE TDR BANK ACCOUNT AND <br />ASSIGNING SOLELY THE 11,861 SQUARE FEET OF FAR TO THE <br />PROPERTY LOCATED AT 17901 COLLINS AVENUE, SUNNY ISLES <br />BEACH, AND EXTINGUISHING THE FIVE (5) DWELLING UNITS; <br />AUTHORIZING THE ADJUSTMENT AND MODIFICATION OF THE <br />PRIVATE TDR BANK ACCOUNTS; PROVIDING THE CITY MANAGER <br />AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO ALL <br />THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; <br />PROVIDING FOR AN EFFECTIVE DATE. <br />WHEREAS, by Zoning Resolution No. 41- Zlb , adopted on A. ] U(U2-1 , the City <br />Commission of the City of Sunny Isles Beach (the "City Commission") approved the Site Plan <br />Modification & Transfer of Development Rights ("TDRs") submitted by A3 Development, LLC <br />("Applicant") related to the property located at 17901 Collins Avenue, Sunny Isles Beach, Florida, <br />for intensity increases of the overall Floor Area Ratio (FAR) square footage from 1,179,384 square <br />feet of FAR to 1,191,245 square feet of FAR, an increase of 11,861 square feet of FAR, as well as <br />for the purchase and assignment of TDRs in the amount of 11,861 square feet of FAR; and <br />WHEREAS, the Applicant sought to purchase the above referenced TDRs directly from <br />the City of Sunny Isles Beach ("City"), however, pursuant to the Land Donation and Transfer of <br />Development Rights Agreement between the City and NDPRE #14, LLC ("Navarro"), approved <br />by Resolution 2018-2840, the City is required to sell Navarro's TDRs before the City sells any <br />other TDRs held in the public bank account controlled by the City; and <br />WHEREAS, the City Commission hereby agrees to approve the sale and assignment of <br />TDRs from the Private TDR Bank account of Navarro to the Applicant in the amount of 11,861 <br />square feet of FAR and five (5) dwelling units; and <br />WHEREAS, solely the TDRs in the amount of 11,861 square feet of FAR are being utilized <br />and assigned to the project that is the subject of the Site Plan Modification application for the <br />development project located at 17901 Collins Avenue, Sunny Isles Beach, as the Applicant will <br />not assign the five (5) dwelling units, thus, those unassigned dwelling units will become <br />extinguished; and <br />WHEREAS, the Private TDR Bank account of Navarro will be adjusted to reflect the <br />withdrawal of 11,861 square feet of FAR and five (5) dwelling units to the Applicant and to reflect <br />R2021 Approve Private TDRs A3 Development and NDPRE Page 1 o0 <br />