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<br />- <br />- <br /> <br />- <br />_ <I: <br />Q <br />- ..... <br />~--~ :5 <br />-..... ...! <br />-'" I.J.. <br />-0. <br />=...0 <br />-"_. >-- <br />- I- <br />_It!:loo % <br />_'-I :::t <br />-~ 0 <br />~I=' .:..;, <br />~....... LU <br />=1 ~ <br />-!J~' Q <br />-!J~' I <br />-'-I 10--1 <br />iiiiiii ~ E: <br />- <I: <br />-..... ..... <br />-", :E: <br />_u- .... <br />-.......1'-1- <br />=er..or-ICI:: <br />--...olfa:=J <br />-r.).......o <br />~('.,'-TO:":. <br />-::a::.:;u.. <br />c:........o <br /> <br />cc: 11:' :::r.:: <br />o CIa:: <br />,-,W <br />.......N...! <br />0-- '- .:,;. <br />!J~' I'- <br />0--....... ~ <br />-.o.......z <br />CECE..... <br />I 11 I::> <br />.i:-~ <br />lI.' Q u:: <br />.='w <br />'='0>- <br />C", u:: LU <br />0::>- <br />Z (,..;'10:: <br />I.J..LU<I: <br />0:..:. u:: ::c <br /> <br />RESOLUTION NO. 2005- ~:;}~ <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA; ACCEPTANCE OF THE <br />APPRAISED LAND VALUE OF ONE HUNDRED THREE <br />MILLION FIVE HUNDRED THOUSAND DOLLARS <br />($103,500,000) FOR THE PROPERTY GENERALLY LOCATED <br />AT 15811 COLLINS AVENUE; PROVIDING FOR PAYMENT IN <br />THE AMOUNT OF THIRTEEN MILLION TWO HUNDRED <br />EIGHTY-SEVEN THOUSAND FIVE HUNDRED FIFTY-NINE <br />DOLLARS ($13,287,559) BY THE APPLICANT FOR THE <br />TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") IN THE <br />AMOUNT OF 177,262 SQUARE FEET OF FLOOR AREA AND <br />EIGHTY-ONE (81) DWELLING UNITS; PROVIDING FOR TEN <br />PERCENT (10%) DEPOSIT FOR TDRS; PROVIDING FOR THE <br />TRANSFER OF CERTAIN NUMBER OF TDRS TO THE <br />APPLICANT UPON RECEIPT OF CERT AIN PAYMENTS; <br />PROVIDING FOR AN ADJUSTMENT OF THE BALANCE OF <br />TDRS FROM THE CITY'S BANK TO REFLECT THE SALE OF <br />TDRS TO TRG SUNNY ISLES, LTD.; PROVIDING THE CITY <br />MANAGER WITH THE AUTHORITY TO DO ALL THINGS <br />NECESSARY TO EFFECTUATE THIS RESOLUTION; <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, by Zoning Resolution No. 05-Z-94, adopted July 14, 2005, the City <br />Commission approved the zoning application submitted by TRG Sunny Isles, LTD. ("Applicant") <br />for the transfer of TDRs in the amount of 414,207 square feet of floor area and 180 dwelling <br />units; and <br /> <br />WHEREAS, the Applicant agrees to purchase TDRs in the amount of 177,262 square <br />feet of floor area and 81 dwelling units from the City's Transfer Development Rights Bank as <br />established pursuant to Ordinance No. 2004-218 for a development project commonly known as <br />Trump Towers I, II, and III; and <br /> <br />WHEREAS, pursuant to Section 265-23.4 (b) of the City Code, the City Commission <br />shall consider the acceptance of the appraised land value in the amount of one hundred three <br />million five hundred thousand dollars ($103,500,000) for the receiving site; for the purpose of <br />calculating the square foot value of the approved TDRs; and <br /> <br />WHEREAS, the City Commission shall consider the acceptance of thirteen million two <br />hundred eighty-seven thousand five hundred fifty nine dollars ($13,287,559) by the Applicant <br />for the transfer of 177,262 square feet of floor area and 81 dwelling units; and <br /> <br />Trump Reso City IDR Page 1 of 3 <br />