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<br />111111I111111111111111111I11111111111111I1111 <br /> <br />RESOLUTION NO. 2005 - 18L-. <br /> <br />CFN 2005R0555615 <br />OR Bk 23426 P9S 4171 - 4173; (3P9S) <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 ISLES <br />BEACH, FLORIDA, PROVIDING FOR THE ACCEPTANCE OF THE APPRAISED <br />LAND VALUE OF NINE MILLION SEVEN HUNDRED EIGHTY FIVE THOUSAND <br />DOLLARS ($9,785,000.00) FOR THE PROPERTY LOCATED AT 150 - 260 SUNNY <br />ISLES BOULEVARD A/KIA ST. TROPEZ; PROVIDING FOR THE ACCEPTANCE <br />AND PAYMENT BY THE APPLICANT OF TWO MILLION ONE HUNDRED <br />EIGHTY-FOUR THOUSAND SEVEN HUNDRED ELEVEN DOLLARS ($2,184,711.00) <br />FOR THE TRANSFER OF TWELVE THOUSAND TWENTY THREE (12,023) SQUARE <br />FEET AND SIXTY-FIVE (65) UNITS OF THE CITY'S TRANSFERABLE <br />DEVELOPMENT RIGHTS; PROVIDING FOR AN ADJUSTMENT OF THE BALANCE <br />OF TRANSFERABLE DEVELOPMENT RIGHTS FROM THE CITY'S BANK TO <br />REFLECT A DECREASE OF ONE HUNDRED TWELVE THOUSAND NINE <br />HUNDRED AND FIVE (112,905) SQUARE FEET AND SIXTY-FIVE (65) UNITS; <br />PROVIDING FOR A REPEALER; PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, on March 22, 2005 by resolution 05-Z- 91, the City Commission approved an <br />application submitted by Benge Enterprises, Inc, LSB Investments, Sunny Isles Beach <br />Entertainment Corp. and Franco Posteraro and Domenico Figlia ("Applicant") for site plan <br />approval for property located at 150 - 260 Sunny Isles Beach Blvd. aIkIa St. Tropez containing <br />the transfer of twelve thousand twenty-three (12,023) square feet and sixty-five (65) units <br />development rights to be purchased from the City's Development Rights Bank ("Bank") as <br />established pursuant to Ordinance 2004-218; and <br /> <br />WHEREAS, pursuant to Section 265-23 D of the Code of the City of Sunny Isles Beach, the <br />City Commission shall consider the acceptance of the appraised land value in the amount of nine <br />million seven hundred eight-five thousand dollars ($9,785,000.00) for the receiving site; for the <br />purpose of calculating the square foot value of the approved Transfer Development Rights; and, <br /> <br />WHEREAS, the City Commission shall consider the acceptance of two million one hundred <br />eighty-four thousand seven hundred eleven ($2,184,711.00) by the applicant for the transfer of <br />twelve thousand twenty-three (12,023) square feet and sixty-five (65) units; and <br /> <br />WHEREAS, the City's Bank balance will be adjusted to reflect a decrease of one hundred <br />twelve thousand nine hundred five (112,905) square feet and sixty-five (65) units (as opposed to <br />the application request of twelve thousand twenty-three (12,023) square feet sixty-five (65) <br />units). <br /> <br />WHEREAS, the property receiving the transfer of development rights ("TDRs") is <br />located at Lots 29 thru 34 and islands 29 thru 34 of Second Revised Plat of Bella Vista <br />Subdivision Plat Book 50 Page 76 located at 150 - 260 Sunny Isles Beach Blvd. aIkIa St. Tropez <br />(hereinafter referred to as the "Receiving Site"); <br /> <br />NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />R2005- TDRs Transfer to St Tropez <br /> <br />1 <br /> <br />'7 <br />