Reso 2005-754 - Laserfiche WebLink

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RESOLUTION NO. 2005-7 5 '-I A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, ACCEPTING THE CONVEYANCE OF APPROXIMATELY 2.417 ACRES OF REAL PROPERTY, LEGALLY DESCRIBED IN EXHIBIT "A", OWNED BY PORTO BELLAGIO PARTNERS, LLC, IN ACCORDANCE WITH AND SUBJECT TO ALL OF THE APPLICABLE PROVISIONS OF THE CITY CODE AND SECTION 265-23 OF THE CITY'S LAND DEVELOPMENT REGULATIONS ("LDR's") RELATING TO TRANSFERS OF DEVELOPMENT RIGHTS ("TDR's"), INCLUDING BUT NOT LIMITED TO SECTIONS 265-23.3 (c) AND (e) AND SECTION 265-23.4(c);FURTHER IMPOSING CERTAIN CONDITIONS PRIOR TO THE CITY'S ACCEPTANCE OF THE PROPERTY AND SEVERANCE OF THE TDR'S; FURTHER AUTHORIZING THE MAYOR TO EXECUTE SUCH OTHER DOCUMENTS AND AGREEMENTS AS MAY BE DETERMINED BY THE CITY ATTORNEY TO BE NECESSARY TO CONSUMMATE THE CONVEYANCE OF THE PROPERTY TO THE CITY, SEVER DEVELOPMENT RIGHTS FROM THE PROPERTY AND DEPOSIT SAME TO THE CREDIT OF THE APPLICANT IN THE TDR BANK, SUBSEQUENT WITHDRAWAL OF SAID DEVELOPMENT RIGHTS AT THE REQUEST OF AND FOR THE BENEFIT OF THE APPLICANT DURING THE FIVE YEAR PERIOD COMMENCING WITH THE PASSAGE OF THIS RESOLUTION, AND RECORDATION OF DOCUMENTATION; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Section 265-23 of the City's Land Development Regulations ("LDR's") (the "TDR Ordinance") provides for the transfer of development rights from a sender site to a receiver site, in accordance with the provisions set forth therein; and WHEREAS, the TDR Ordinance provides that any property in the City, upon the approval of the City Commission, in its sole discretion, after a public hearing, may be eligible as a sending site, subject to the terms, conditions and limitations ofthis Ordinance; and WHEREAS, ifthe Public Enhancement Bonus under the TDR Ordinance (which provides that certain properties may be dedicated to and accepted by the City with a grant ofTDR's to the applicant of80 dwelling units per acre and a 3.75 F.A.R.) is not utilized, anyTDR's granted shall be calculated based on the underlining zoning; and WHEREAS, Porto Bellagio partners, LLC ("Applicant"), pursuant to the provisions of the TDR Ordinance relating to the transfer of such properties to the City, has submitted a complete application to the City requesting approval of conveyance ofthe property legally described in Exhibit "A", as referred to in this Resolution as "Tract 'D'" remainder parcel, owned by Porto Bellagio Partners, LLC, and the transfer of the development rights from the property to the TDR Bank; and R2005.Porto Bel1agio Conveyance Alternate Page I of5