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<br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section 1. Authorizin!! the Transfer of Development Ri!!hts. Pursuant to Section 265-23.3 <br />(c) of Ordinance No. 2004-200, the City Commission hereby authorizes the transfer of the <br />development rights in the amount of fifty-four (54) dwelling units and 92,103 square feet of floor <br />area to Royal Development Holdings LLC. ("The Royale Condominium Project") from the TDR <br />Bank established for 172000 Collins Avenue, LP. ("Casino Property"). <br /> <br />Section 2. Directive to Plannin!! and Zonin!! Administrator. The Planning and Zoning <br />Administrator or designee is hereby directed to transfer the development rights from the TDR Bank <br />to Royal Development Holdings LLC. ("The Royale") in accordance with Resolution No. 04-Z-84. <br /> <br />Section 3. Consent of Casino Property. The executed consent ofthe Owner, 17200 Collins <br />Avenue, LP. ("Casino Property") to the transfer of the TDRs to the Royal Development Holdings <br />LLC. ("The Royale ") is attached as Exhibit "A". <br /> <br />Section 4. Adiustment to the TDR Bank for the Casino Property. The Planning and Zoning <br />Director or designee is hereby instructed to make the necessary adjustments to the TDR Bank for the <br />Casino Property to reflect the conveyance of TDRs to Royal Development Holdings LLC. ("The <br />Royale "). by 17200 Collins Avenue, LP., as shown in exhibit 'A'. <br /> <br />Section 5. Authority of the City Mana!!er. The City Manager is hereby authorized to do all <br />things necessary to effectuate this resolution. <br /> <br />Section 6. <br /> <br />Effective Date. This Resolution shall be effective upon adoption. <br /> <br />PASSED AND ADOPTED this q"'""dayof t)ee€.l\l\bu., 2004. <br /> <br />jL. l,_' ~ <br /> <br />,'~T~ES'T: ~ / ...~:... <br /> <br />~~. <br /> <br />I.' !"7"')' ': /& " :,~ <br />".~~ a{.:'0~ <br />, . ~ ~ \0.... <br /> <br />". .J.ane:,A. Hlpes, 9itY Clerk <br /> <br /> <br />:f' <br /> <br />.', ' <br /> <br />. . ;', <br /> <br />. ';~..)- <br />.. c!' ..H,~ <br /> <br />R2004-TDR Transfer The Royale.Doc <br /> <br />2 <br />