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• <br /> • <br /> RESOLUTION NO. 2016- 2 517 <br /> A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br /> SUNNY ISLES BEACH, FLORIDA, APPROVING A DONATION <br /> OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") IN THE <br /> AMOUNT OF SEVENTY FIVE THOUSAND (75,000) SQUARE <br /> FEET OF FLOOR AREA AND THIRTY FIVE (35) DWELLING <br /> UNITS TO CORNER HOUSE LLC FOR THE PROPERTY <br /> LOCATED AT 18801 COLLINS AVENUE; DIRECTING THE <br /> ZONING ADMINISTRATOR OR DESIGNEE TO DONATE THE <br /> AFOREMENTIONED TDRS FROM THE TDR BANK ACCOUNT <br /> OWNED BY THE CITY; AUTHORIZING THE ADJUSTMENT <br /> AND MODIFICATION OF THE TDR BANK ACCOUNT; <br /> CONSENTING TO THE ASSIGNMENT OF TDRs; PROVIDING <br /> THE CITY 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. 15-Z-156, adopted November 19, 2015, the City <br /> Commission of the City of Sunny Isles Beach ( the "City Commission)") approved the zoning <br /> application submitted by La Playa Beach Associated, LLC, a Delaware limited liability company <br /> ("La Playa") for the transfer of TDRs in the amount of 283,485 square feet of floor area and 119 <br /> dwelling units for the property located at 18801 Collins Avenue, Sunny Isles Beach, Florida <br /> 33160 (the "Property"); and <br /> WHEREAS, the City Commission hereby agrees to donate to Corner House, LLC, <br /> TDRs in the amount of Seventy Five Thousand (75,000) square feet of floor area and Thirty Five <br /> (35) dwelling units for assignment to La Playa for the Property,; and <br /> WHEREAS, the City's TDR Bank will be adjusted to reflect the donation of 75,000 <br /> square feet of floor area and 35 units to Corner House, LLC, for assignment to La Playa for the <br /> Property ; and <br /> WHEREAS, the Property receiving the TDRs is described on Exhibit "A" attached <br /> hereto; and <br /> WHEREAS, Corner House, LLC shall have the right to assign the TDRs to La Playa for <br /> the Property however if La Playa does not utilize the TDRs, La Playa shall have the right to <br /> assign the TDRs if the TDRs are not designated for the Property; and <br /> WHEREAS, the City Commission agrees to authorize the donation of the TDRs <br /> contemplated herein as an incentive for development pursuant to its Charter and Home Rule <br /> Authority. <br /> Corner house LLC TDR Bank Page 1 of 3 <br />