Reso 2005-796 - Laserfiche WebLink

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RESOLUTION NO. 2005-~/" A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, ACCEPTING A DONATION BY PORTO BELLLAGIO PARTNERS, LLC OF 50% OF THE TRANSFERABLE DEVELOPMENT RIGHTS AVAILABLE TO PORTO BELLAGIO PARTNERS LLC PURSUANT TO RESOLUTION NO. 2005-755 TO THE CITY AND AUTHORIZING TRANSFER; PROVIDING FOR RECORDATION OF SUCH DOCUMENTATION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, on January13, 2005, the City Commission accepted the conveyance of approximately 2.417 acres of real property owned by Porto Bellagio Partners, LLC ("Applicant") known as Tract "D"; and severed the TDRs therefrom with instructions to staff to deposit same in Porto Bellagio Partners, LLC Bank in accordance with Resolution 2005-755; and WHEREAS, Porto Bellagio Partners, LLC at that meeting proffered a donation of 50% of the TDRs available to it for its own use to be deposited in the City's TDR account and 50% to its own account in the TDR Bank; and WHEREAS, Resolution 2005-755 which authorized this TDR transaction did not acknowledge the Applicant's proffer or the City's acceptance of same; and WHEREAS, the City Commission must accept that donation by formal resolution and so authorize staff to make such transfer. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The recitals contained in this resolution are incorporated herein by reference. Section 2. Accepting the Donation of and Authorizing the Deposit of 50% of Transferable of Development Rights from Applicant to the City. The City hereby accepts the proffer of, and authorizes the transfer and deposit of 50% of the transferable development rights available to Applicant by virtue of Resolution 2005-755 to the account of the City. The City shall record whatever documentation that may be necessary to reflect same.