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<br />~~--\ <br />, v.'" ,\-,'.9.v" ~~~ ~ <br /> <br />RESOLUTION NO. 2005-:1&1 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA., AUTHORIZING THE TRANSFER OF TWO (2) <br />ACRES OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") EQUAL <br />TO 217,800 SQUARE FEET AND 120 UNITS FROM TRACT 'B' OF RK <br />MARINA APARTMENTS PLAT BOOK 157, PAGE 70 AND DEPOSIT INTO <br />THE TRANSFER DEVELOPMENT RIGHTS BANK OF PORTO BELLAGIO <br />PARTNERS LLC, TO COMPL YWITH RESOLUTION N0.2005 -754 TO BE <br />USED STRICTLY IN CONJUNCTION WITH AN APPROVED SITE PLAN <br />ON THE WEST SIDE OF COLLINS AVENUE AND UPON APPROVAL OF <br />THE CITY COMMISSION; DIRECTING THE PLANNING AND ZONING <br />ADMINISTRATOR OR DESIGNEE TO TRANSFER THE TDRS IN <br />ACCORDANCE WITH RESOLUTION NO. 2005-754; PROVIDING THE <br />CITY MANAGER WITH THE AUTHORITY TO DO ALL TIDNGS <br />NECESSARY TO EFFECTUATE THIS RESOLUTION; AND PROVIDING <br />FOR AN EFFECTIVE DATE, <br /> <br />WHEREAS, pursuant to a waiver / extinguishment of development rights agreement, Porto <br />BeIlagio Partners, LLC agreed to sever and extinguish all but 4,56 acres of density and intensity <br />associated with Tract "B" and as more particularly described in Exhibit "2" of Resolution 2005-756 <br />("Property") which was part the transaction described in Resolution No, 2005-754; and <br /> <br />WHEREAS, the Conunission now wishes to allow the TORs associated with the two (2) <br />remaining acres related to this Property to be deposited into the TOR bank account of Porto Bellagio <br />partners LLC; and <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA., AS FOLLOWS: <br /> <br />Section 1. Atitborizln!! tbe Transfer. The City Commission hereby authorizes the transfer of, <br />two (2) acres worth ofttansfer of development rights from the property legally described in Exhibit <br />"2" to Resolution 2005-7;;6 in the amount of217,800 square feet and 120 units to the account of <br />Porto Bellagio partners LLC to be used strictly in conjunction with an approved site plan on the west <br />side of Collins Avenue and upon the approval of the City Conunission. <br /> <br />Section 2. Direction of the Plannln!! and Zonin!! Administrator. The Planning and Zoning <br />Administrator or designee is hereby directed to transfer the development rights from the property to <br />the TOR Bank. <br /> <br />Section 3. Autbority of tbe City Mana2er. The City Manager is hereby authorized to do all <br />things necessary to effectuate this resolution. <br /> <br />Section 4, <br /> <br />Effective Date. This Resolution shall be effective upon adoption, <br /> <br />TOR Transfer 2 Bellagio Resolution <br />