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City <br /> of SunnyIsles Beach S. <br /> ecup,Mr <br /> SJNNY t-(Er City Normee S.Ede Commissionor <br /> °y,. \°T 17070 Collins Avenue, Suite 250 Lewis J.Thaler,Vice Mayor <br /> Ir► 1 Sunny Isles Beach, Florida 33160 -Roslyn Brain.Commissioner <br /> (`Li , i y Gerry Goodman,Commissioner <br /> i Danny Iglesias,Commisnoner <br /> K1305 947-0606 City Hall <br /> \' // �305� 949-3113 Fax Christopher J.Russo.City Manager <br /> °, r�o.% . (305) 947-2150 Building Department Lynn M.Dannheisser,Ciry Attorney <br /> of Fosera (305) 947-5107 Fax Jane A.Hines,Ciy Clerk <br /> MEMORANDUM <br /> TO: The Honorable City Commission <br /> FROM: Lynn M. Dannheisser, City Attorney <br /> DATE: April 14, 2005 <br /> RE: Porto Bellagio Partners, LLC. Transfer of Development Rights <br /> Recommendation: <br /> It is recommended that the City Commission approve the attached Resolution. <br /> Reasons: <br /> As you may recall, as part of the transaction described in Resolution No. 2005-754, wherein the <br /> City accepted Tract "D" as a public park in exchange for the TDRs on that tract. In that <br /> transaction, the City Commission accepted a fifty percent (50%) donation of the TDRs from <br /> Porto Bellagio Partners as well as a waiver and extinguishment of all seventeen (17) acres of <br /> development rights on Tract "B" except for 4.56 acres. 2.56 of those acres were applied to the <br /> present Porto Bellagio Project. The balance of the two (2) acres were never actually deposited in <br /> the TDRs Bank. This Resolution now allows the deposit of the balance of those TDRs, <br /> (specifically 217,800 square feet and 120 units) to be deposited to the account of Porto Bellagio <br /> LLC, on the proviso that these specific TDRs be used strictly in conjunction with an approved <br /> site plan on the west side of Collins Avenue and upon the specific approval of the City <br /> Commission. <br /> This Resolution directs the Planning and Zoning Administrator to administer this transfer. <br /> LMD:jb <br /> Attachments <br /> Porto Bellagio TDR Transfer <br />