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<br />RESOLUTION NO. 2004- 'l AiO <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, AUTHORIZING THE TRANSFER OF <br />DEVELOPMENT RIGHTS ("TDRS") IN THE AMOUNT OF FIFTY FOUR <br />(54) DWELLING UNITS AND NINETY-TWO THOUSAND ONE HUNDRED <br />THREE 92,103 SQUARE FEET OF FLOOR AREA TO ROYAL <br />DEVELOPMENT HOLDINGS LLC (liTHE ROYALE CONDOMINIUM <br />PROJECT")FROM THE TDR BANK ESTABLISHED FOR 17200 COLLINS <br />AVENUE, LP. (THE "CASINO PROPERTY"); DIRECTING THE <br />PLANNING AND ZONING ADMINISTRATOR OR DESIGNEE TO <br />TRANSFER THE TDRS FROM THE TDR BANK TO ROYAL <br />DEVELOPMENT HOLDINGS LLC IN ACCORDANCE WITH <br />RESOLUTION NO. 04-Z-84; CONSENT TO THE TRANSFER OF THE <br />TDRS BY THE CASINO PROPERTY; AUTHORIZING THE ADJUSTMENT <br />OF THE TDR BANK BY THE PLANNING AND ZONING <br />ADMINISTRATOR OR DESIGNEE; PROVIDING THE CITY MANAGER <br />WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO <br />EFFECTUATE THIS RESOLUTION; AND PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, by Resolution No. 04-Z-84, adopted June 3, 2004, the City Commission <br />approved the zoning application submitted by Residences at Ocean Grande, Inc. and Royal <br />Development Holdings, LLC. for the transfer of development rights in the amount of 54 dwelling <br />units and 92,103 square feet of floor area; and <br /> <br />WHEREAS, by Resolution No. 2004-681, adopted June 3, 2004, the City Commission <br />designated the Casino Property as a sending site for purposes of transferring TDRs in the amount of <br />3.75 F.A.R. (566,737 square feet) 80 dwelling units per acre (277 dwelling units); and <br /> <br />WHEREAS, by Resolution No. 2004-685, adopted July 8, 2004, the City Commission <br />provided the Planning and Zoning Administrator or designee with the authority to transfer TDRs <br />from the Casino property to the TDR Bank for the purpose oftransferring such rights to a receiving <br />site; and <br /> <br />WHEREAS, the 17200 Collins Avenue, LP. ("Casino Property") now wishes to transfer <br />TDRs in the amount of 54 dwelling units and 92,103 square feet of floor area from the TDR Bank to <br />Royal Development Holdings LLC . ("The Royale") to be used in accordance with Resolution No. <br />04-Z-84; and <br /> <br />WHEREAS, the City Commission agrees to authorize the transfer of the TDRS <br />contemplated herein in accordance with its regulations. <br /> <br />R2004-TDR Transfer The Royale.Doc <br /> <br />. --------- <br />