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<br />RESOLUTION NO. 2005- .8J3 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE <br />TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") IN THE <br />AMOUNT OF ONE HUNDRED TWENTY SIX THOUSAND <br />SEVEN HUNDRED THIRTY SEVEN (126,737) SQUARE FEET OF <br />FLOOR AREA AND FIFTY (50) DWELLING UNITS TO SUNNY <br />ISLES DEVELOPMENT COMPANY, LLC FROM THE BANK <br />ACCOUNT OWNED BY BELLAGIO STRIP BANK; DIRECTING <br />THE ZONING ADMINISTRATOR OR DESIGNEE TO <br />TRANSFER THE TDRS FROM THE SUB-BANK ACCOUNT IN <br />ACCORDANCE WITH ZONING RESOLUTION 04-Z-85; <br />PROVIDING FOR CONSENT TO TRANSFER TDRS FROM SUB- <br />BANK ACCOUNT; AUTHORIZING THE ADJUSTMENT OF THE <br />TDR BANK; PROVIDING THE CITY MANAGER WITH THE <br />AUTHORITY TO DO ALL TmNGS NECESSARY TO <br />EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN <br />EFFECTIVE DATE. <br /> <br />WHEREAS, by Zoning Resolution No.04-Z-85, adopted June 17, 2004, the City <br />Commission approved the zoning application submitted by Sunny Isles Development Company, <br />LLC . (commonly known as "Sea") for the transfer ofTDRs in the amount of 126,737 square feet <br />of floor area and 50 dwelling units; and <br /> <br />WHEREAS, by Resolution No. 2005-755, adopted January 13, 2005, the City <br />Commission designated the Bellagio Strip property as a sending site for purposes of transferring <br />TDRs in the amount 131,1611 square feet and 73 dwelling units; and <br /> <br />WHEREAS, the Zoning Administrator divided the Bellagio Strip Bank into sub-accounts <br />to reflect the purchase of TDRs by Sunny Isles Development Company, LLC. and Porto Bellagio <br />Partners, LLC; and <br /> <br />WHEREAS, the Bellagio Strip Bank has the following sub-accounts: <br /> <br />1) Sunny Isles Development Company, LLC <br />2) Porto Bellagio Partners LLC. <br /> <br />@ 126,737 square feet 70 units <br />@ 4,874 square feet 3 units <br /> <br />and; <br /> <br />WHEREAS, the property receiving the TDRS is described as follows: <br />Parcel 1 <br />All that part of the North 100 feet of the South 300 feet of Lot 1, of TATUM'S OCEAN PARK <br />SUBDIVISION, according to the plat thereof, as recorded in Plat Book 10 at Page 64 of the <br />Public Records of Miami-Dade County, Florida, extending from the Erosion Control Line of the <br />Atlantic Ocean, said line recorded in Plat Book 134 at Page 47 of the Public Records of Miami- <br />Dade County, Florida, to the East right of way of State Road A-I-A (formerly State Road 140), <br />as said road is shown on a Plat thereof, recorded in Plat Book 47 at Page 101, of the Public <br /> <br />Sunny Isles Dev Co IDR Bank Page 1 of 3 <br />