Reso 2006-959 - Laserfiche WebLink

Home Browse Search

A as described in Condemnation Proceeding Civil Case No. 86-02173, of the Public Records of Miami-Dade County, Florida; and Lots 29 through 34, and Islands 29 through 34 according to thc Plat thercof SECOND REVISED PLAT OF BELLA VISTA SUBDIVISION, as recorded in Plat Book 50, Page 76 of the Public Records of Miami-Dade County, WHEREAS, the Applicant agrees to purchase TORs in the amount of seventeen (17) units and zero (0) square feet from the City's TOR Bank as established under the City Code. NO'" THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section I. Recitals. The foregoing recitals are true and correct and are incOlvorated herein by reference as if they fully set fOlih herein. Section 2. Approval of Appraised Land Value. The City Commission hereby approves the appraised land value of Five Million One Hundred Fifty Thousand Dollars ($5, I 50,000.00) ("Appraised Value"), for the Receiving Site. Section 3. Authorizing the Transfer and Payment for TDRs. Based on the Appraised Value set forth in Section 2 hercinabove, the City Commission hereby approves the payment of One Million One Hundred Sixty-Two Thousand Six Hundred Sixtcen Dollars and Ninety-One Cents ($ 1,162,616.91) by the applicant for the transfer of zero (0) squarc feet and seventeen (17) units from the City's TDR Bank to the Receiving Site located at 16690 Collins Avenue. If the applicant fails to pay the total amount for the TORs, the City shall retain the development rights that payment has not been received for. Section 4. Deposit. Within three (3) working days of the approval of the Applicant's TDR application and site plan application, the Applicant shall provide the City with a non-refundable deposit in the amount of ten percent (10%) of the approved purchase price of $116,261.69. The total amount of remaining balance for the TORs is S 1,046,355.22. Failure to pay the required deposit within the three (3) working days of approval of TOR application and site plan application shall result in an automatic voiding of the City Commission approval of the Receiving Site, transfer ofTDRs, site plan approval. Section 5. Adjustment of Bank Balance. Upon acceptance of payment for the transfer of development rights based on the Appraised Value, the Bank's balance will be adjusted to reflect a decrease of thirty-two thousand seven hundred fifty-nine (32,759) square feet and seventeen (17) units. Section 6. Credits for Undergrounding of Utilities. City has agreed to reimburse the Applicant for payments made for the Undergrounding of utilities adjacent to its property. The Applicant is entitled to a eredit of 5204,775.00 as evideneed by the invoice attached hereto as Exhibit "B". The credit of 5204,775.00 shall be deducted from the remaining balance of the TDR payments in the amount of S 1,046,355.22. R2006-959 St Tropez Appmisal Accept For TDR PUIlJOses Page2of3