Reso 2015-2407 - Laserfiche WebLink

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WHEREAS,the City Commission agrees to authorize the donation and assignment of the TDRs contemplated herein as an incentive for development pursuant to its Charter and Home Rule Authority. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA,AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are true and correct and are incorporated herein by reference as if they are fully set forth herein. Section 2. Authorizing the Donation of TDRs and Approving Assignment Agreement. The City Commission hereby approves a donation of Transfer of Development Rights ("TDRs") in the amount of Eighty Thousand (80,000) square feet of floor area and Thirty Eight(38) dwelling units into a Private TDR Bank account designated for RDR Seashore, LLC. The donation of the TDRs is conditional on the transfer of legal title for the land located at 15800 Collins Avenue, Sunny Isles Beach, Florida. The City Commission further approves assignment and hold harmless agreements between TRG Sunny Isles VII West, LLC and RDR Seashore, LLC. Section 3. Authorizing the Withdrawal and Assignment of TDRs. The City Commission hereby authorizes the Zoning Administrator to withdraw 80,000 square feet of floor area and 38 dwelling units from the private TDRs bank account designated for RDR Seashore, LLC and to assign 80,000 square feet of floor area and 5 dwelling units for the development project for the property located at 18975 Collins Avenue approved under Zoning Resolution No t5.z. i 5 If the development project is not approved,the Zoning Administrator is not required to withdraw and assign the aforementioned TDRs to the development project. The TDRs shall remain in the Private TDR Bank account created for RDR Seashore, LLC. Section 4. Directive to Zoning Administrator. The Zoning Administrator or their designee is hereby directed to adjust the Private TDR Bank account designated for RDR Seashore, LLC to reflect the withdrawal of TDRs in the amount of 80,000 square feet of floor area and 38 dwelling units according to Zoning Resolution No. 15-2 l 52, and to close the Private TDR Bank account designated for RDR Seashore, LLC. Section 5. Authority of the City Manager and City Attorney. The City Manager and City Attorney are hereby authorized to do all things necessary to effectuate this Resolution. Section 6. Effective Date. This Resolution shall become effective up+n adoption. PASSED AND ADOPTED this 16th day of April, 2015/ Georg H. Scholl, Mayor RDR Seashore LLC lDR Bank- 15800 Collins Ave. 4/8/2015 9:32 AM Page 2 of 3