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<br />111111I111111111111111111I1111111111111I11111 <br /> <br />RESOLUTION NO. 2005-~ <br /> <br />CFN 2005R0555613 <br />OR Bk 23426 P9S 4166 - 4167; (2P9S) <br />RECORDED 06/01/2005 09=38=32 <br />HARVEY RUVIN, CLERK OF COURT <br />MIAMI-DADE COUNTY, FLORIDA <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, AUTHORIZING THE TRANSFER OF TWO (2) <br />ACRES OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") EQUAL <br />TO 217,800 SQUARE FEET AND 120 UNITS FROM TRACT 'B' OF RK <br />MARINA APARTMENTS PLAT BOOK 157, PAGE 70 AND DEPOSIT INTO <br />THE TRANSFER DEVELOPMENT RIGHTS BANK OF PORTO BELLAGIO <br />PARTNERS LLC. TO COMPLY WITH RESOLUTION NO.2005 -754 TO BE <br />USED STRICTLY IN CONJUNCTION WITH AN APPROVED SITE PLAN <br />ON THE WEST SIDE OF COLLINS AVENUE AND UPON APPROVAL OF <br />THE CITY COMMISSION; DIRECTING THE PLANNING AND ZONING <br />ADMINISTRATOR OR DESIGNEE TO TRANSFER THE TDRS IN <br />ACCORDANCE WITH RESOLUTION NO. 2005-754; PROVIDING THE <br />CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS <br />NECESSARY TO EFFECTUATE THIS RESOLUTION; AND PROVIDING <br />FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, pursuant to a waiver 1 extinguishment of development rights agreement, Porto <br />Bellagio Partners, LLC agreed to sever and extinguish all but 4.56 acres of density and intensity <br />associated with Tract "B" and as more particularly described in Exhibit "2" of Resolution 2005-756 <br />("Property") which was part the transaction described in Resolution No. 2005-754; and <br /> <br />WHEREAS, the Commission now wishes to allow the TDRs associated with the two (2) <br />remaining acres related to this Property to be deposited into the TDR bank account of Porto Bellagio <br />Partners LLC; and <br /> <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. AU:thorizin~ the Transfer. The City Commission hereby authorizes the transfer of, <br />two (2) acres worth of transfer of development rights from the property legally described in Exhibit <br />"2" to Resolution 2005-756 in the amount of 217,800 square feet and 120 units to the account of <br />Porto Bellagio Partners LLC to be used strictly in conjunction with an approved site plan on the west <br />side of Collins Avenue and upon the approval of the City Commission. <br /> <br />Section 2. Direction of the Plannin~ and Zonin~ Administrator. The Planning and Zoning <br />Administrator or designee is hereby directed to transfer the development rights from the property to <br />the TDR Bank. <br /> <br />Section 3. 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 4. <br /> <br />Effective Date. This Resolution shall be effective upon adoption. <br /> <br />TDR Transfer 2 Bellagio Resolution <br />'), <br />