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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. Authorizin2 the Transfer of Development Ri2hts. 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 59 dwelling units and 129,216 square feet of floor area to <br />Fortune Ocean, LLLP, A Florida Limited Liability Partnership ("Jade Beach IT Condominium <br />Project") from the TDR Bank established for 17200 Collins Avenue, Ltd. ("Casino Property"). <br /> <br />Section 2. Directive to Plannin2 and Zonin2 Administrator. The Planning and Zoning <br />Administrator or designee is hereby directed to transfer the development rights from the TDR Bank <br />to Fortune Ocean, LLLP, A Florida Limited Liability Partnership ("Jade Beach IT Condominium <br />Project")in accordance with Resolution No. 05-Z-89. <br /> <br />Section 3. Adiustment to the TDR Bank for the Casino Property. Upon the City's receipt of <br />the executed Assignment, the Planning and Zoning Director or designee is hereby instructed to make <br />the necessary adjustments to the TDR Bank for the Casino Property to reflect the conveyance of <br />TDRs to Fortune Ocean, LLLP, A Florida Limited Liability Partnership ("Jade Beach IT <br />Condominium Project"). <br /> <br />Section 4. Authority of the City Mana2er. The City Manager is hereby authorized to do all <br />things necessary to effectuate this resolution. <br /> <br />Section 5. <br /> <br />Effective Date. This Resolution shall be effective upon adoption. <br /> <br />PASSED AND ADOPTED this 14th day of April 2005. <br /> <br />, , <br />; ATTEST: " ' <br />." l -. ," "'. <br /> <br /> <br />..' ~':N..~ <br /> <br />"', Jane.A. Hines, City Clerk <br />, . ': I, 0 t.' ) <br />, , ' <br />'- <br />. . <br /> <br /> <br />R2005- JADE II TDR TRANSFER <br /> <br />2 <br />