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� �s�� City of Sunny Isles Beach City Commission <br /> s y George"Bud"Scholl,Mayor <br /> ("(31ANY <br /> F 18070 Collins Avenue, Suite 250 Jeanette Gatto,Vice Mayor <br /> n Isaac Action, Commissioner <br /> fps = Sunny Isles Beach, Florida 33160 Jennifer Levin,Commissioner <br /> ` * (305)947-0606 City Hall Dana Goldman,Commissioner <br /> r * .* * (305)949-3 113 Fax Christopher J.Russo City Manager <br /> y� s\;>----,* FL o�\a SAP (305)947-2150 Building Department <br /> Hans Ottinot,City Attorney <br /> c/7-'"o F s u o '''4°'4o (305)947-5107 Fax Jane A.Hines,MMC,City Clerk <br /> MEMORANDUM <br /> TO: Honorable Mayor and City C s mission <br /> A. <br /> FROM: Hans Ottinot, City Attorney g■ <br /> DATE: April 16, 2015 <br /> RE: Resolution Donating Transfer of Development Rights ("TDRs") in the amount of <br /> 80,000 square feet of floor area for the development project located at 18975 <br /> Collins Avenue, Sunny Isles Beach, Florida. <br /> RECOMMENDATION: <br /> The attached Resolution is presented for your consideration. <br /> REASONS: <br /> As part of the transaction related to acquiring legal title to the property located at 15800 Collins <br /> Avenue, the City has agreed to donate to TRG Sunny Isles VII West, LLC ("Assignor") 80,000 <br /> square feet of floor area and 38 dwelling units of Transfer of Development Rights ("TDRs"). <br /> The Assignor has agreed to assign 80,000 square feet of floor area and 5 dwelling units to RDR <br /> Seashore, LLC for the development project located at 18975 Collins Avenue. The Private TDR <br /> Bank account created for the Assignor shall be closed upon the assignment of the TDRs. <br />