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<br />046'29" FOR AN ARC DISTANCE OF 76.06 FEET TO A POINT ON THE <br />WESTERLY BOUNDARY OF THE AFOREMENTIONED LOT 24; THENCE <br />NORTH 13 013'15" EAST; A DISTANCE OF 8.23 FEET ALONG THE <br />WESTERLY BOUNDARY OF SAID LOT 24; TO THE NORTHWEST <br />CORNER OF SAID LOT 24 BEING A POINT ON A CIRCULAR CURVE <br />CONCAVE TO THE NORTHEAST, HAVING A RADIOUS OF 303.79 FEET <br />AND A TANGENT BEARING AT SAID POINT SOUTH 70 "21'01" EAST; <br />THENCE SOUTHEASTERLY, EASTERLY AND NORTHEASTERLY <br />ALONG SAID CIRCULAR CORNER CURVE THROUGH A CENTRAL <br />ANGLE OF 23018'13" FOR AN ARC DISTANCE OF 123.56 FEET TO A <br />POINT OF TANGENCY; THENCE NORTH 86 "20'46" FOR A DISTANCE OF <br />451.44 FEET TO THE POINT OF BEGINNING. LAST TWO (2) COURSES <br />BEING ALONG THE NORTHERLY BOUNDARY OF SAID LOTS 24 AND 25 <br />AND OF TRACTS 'B", "c" AND "D". <br /> <br />SAID LANDS SITUATE, LYING AND BEING IN THE CITY OF NORTH <br />MIAMI BEACH, MIAMI-DADE COUNTY, FLORIDA. <br /> <br />WHEREAS, the City Commission agrees to authorize the transfer of the TDRs <br />contemplated herein in accordance with its transfer of development rights ordinance. <br /> <br />NOW TEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />Section I. Incorporation of Recitals. The foregoing recitals are true and correct and are <br />incorporated herein by reference as if they are fully set forth herein. <br /> <br />Section 2. Authorizing: the Transfer of Development Rights. Pursuant to Section 265-23.3 <br />of the City Code and in accordance with Zoning Resolution No. Ol.-7-1(}4. the City Commission <br />hereby authorizes the transfer of the development rights to Urbis and Key International, LLLP., <br />in the amount of 81,675 square feet and 45 dwelling units from the sub-account owned by Porto <br />Bellagio Tract "B". <br /> <br />Section 3. Authorizing the future Transfer of Development Rights. Pursuant to Section <br />265-23.3 of the City Code and in accordance with Zoning Resolution No. o(,-Z-/(')<j. the City <br />Commission hereby authorizes the transfer of the development rights to Urbis and Key <br />International, LLLP., in the amount of 1,815 square feet and I dwelling units from the City's <br />TDR Bank and acceptance of payment in the amount of $103,000.00 within three (3) working <br />days from Commission approval of this resolution. <br /> <br />Section 4. Directive to Zoning: Administrator. The Zoning Administrator or designee is <br />hereby directed to transfer the development rights from TDR Bank to Urbis Key International, <br />LLLP, in accordance with Zoning Resolution No. 0(.-1..-1 Or./.. <br /> <br />3 <br />