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RESOLUTION NO. 2015-2401 <br /> A RESOLUTION OF THE CITY COMMISSION OF THE CITY <br /> OF SUNNY ISLES BEACH, FLORIDA, APPROVING A <br /> DONATION OF TRANSFER OF DEVELOPMENT RIGHTS <br /> ("TDRS") IN THE AMOUNT OF EIGHTY THOUSAND (80,000) <br /> SQUARE FEET OF FLOOR AREA AND THIRTY EIGHT (38) <br /> DWELLING UNITS TO TRG SUNNY ISLES VII WEST, LLC <br /> AND PROVIDING FOR THE CREATION OF A PRIVATE TDR <br /> BANK ACCOUNT; APPROVING ASSIGNMENT AND HOLD <br /> HARMLESS AGREEMENTS; AUTHORIZING THE ZONING <br /> ADMINISTRATOR TO WITHDRAW AND ASSIGN EIGHTY <br /> THOUSAND (80,000) SQUARE FEET OF FLOOR AREA AND <br /> FIVE (5) DWELLING UNITS TO RDR SEASHORE, LLC FROM <br /> THE AFOREMENTIONED PRIVATE TDR BANK ACCOUNT <br /> FOR THE PROPERTY LOCATED AT 18975 COLLINS AVENUE; <br /> AUTHORIZING THE ADJUSTMENT AND MODIFICATION OF <br /> THE PRIVATE TDR BANK ACCOUNT; PROVIDING THE CITY <br /> MANAGER AND THE CITY ATTORNEY WITH THE <br /> AUTHORITY TO DO ALL THINGS NECESSARY TO <br /> EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br /> EFFECTIVE DATE. <br /> WHEREAS,by Zoning Resolution No. %5_Z-15 adopted on 04AA. Ii,,aA 1 S ,the City <br /> Commission of the City of Sunny Isles Beach (the "City Commission") approved the zoning <br /> application submitted by RDR Seashore, LLC ("Applicant") for the assignment and transfer of <br /> TDRs in the amount of 187,283 square feet of floor area and 60 dwelling units for the zoning <br /> application for the property located at 18975 Collins Avenue, Sunny Isles Beach, Florida; and <br /> WHEREAS, the City Commission has agreed to donate to TRG Sunny Isles VII West, <br /> LLC ("Assignor") TDRs in the amount of 80,000 square feet of floor area and 38 dwelling units <br /> into a Private TDR Bank account; and <br /> WHEREAS,the Assignor has agreed to transfer and assign 80,000 square feet of floor area <br /> and 38 dwelling units to the Applicant whereby 80,000 square feet of floor area and 5 dwelling <br /> units shall be assigned to the development project located at 18975 Collins Avenue; and <br /> WHEREAS,the Private TDR Bank account for the Assignor will be adjusted to reflect the <br /> withdrawal and assignment of 80,000 square feet of floor area and 38 dwelling units to RDR <br /> Seashore, LLC and the assignment of 80,000 square feet of floor area and 5 dwelling units for the <br /> development project located at 18975 Collins Avenue; and <br /> WHEREAS, the Zoning Administrator shall close the Private TDR Bank account created <br /> for the Assignor upon the withdrawal and assignment of the 80,000 square feet of floor area and <br /> 38 dwelling units to the RDR Seashore, LLC; and <br /> WHEREAS, the property receiving the 80,000 square feet of floor area and 5 dwelling <br /> units is described on Exhibit"A" attached hereto; and <br /> RDR Seashore LLC TDR Bank- 15800 Collins Ave. 4/8/2015 9:32 AM <br /> Page 1 of 3 <br />