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<br />RESOLUTION NO. 2009- ~ <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, RATIFYING THE CREATION OF A TRANSFER <br />OF DEVELOPMENT RIGHTS BANK ACCOUNT FOR R.K. ASSOCIATES <br />VIII, INC. IN THE AMOUNT OF 58,500 SQUARE FEET OF <br />DEVELOPMENT RIGHTS AND 30 UNITS OF DEVELOPMENT RIGHTS <br />ATTACHED HERETO AS EXHIBIT "A"; AND RATIFYING THE <br />CREATION OF A TRANSFER OF DEVELOPMENT RIGHTS BANK <br />ACCOUNT FOR PLAZA ISLES, LLC IN THE AMOUNT OF 40,000 <br />SQUARE FEET OF DEVELOPMENT RIGHTS AND 20 UNITS OF <br />DEVELOPMENT RIGHTS ATTACHED HERETO AS EXHIBIT "B"; <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, As part of the sale and purchase with R K Associates VIII, Inc. and Plaza Isles <br />LLC, the City is required to create Transfer of development Rights Bank Accounts; and <br /> <br />WHEREAS, Staff has created the TDR bank account for RK Associates by staff; and <br /> <br />WHEREAS, Staff has created the TDR bank account for Plaza Isle LLC by staff. <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. Creation of the TDR Bank Account for RK Associates, VIII, Inc. The City <br />Commission hereby ratifies the creation of the TDR Bank account of58,500 square feet and 30 units <br />in the name of RK Associates VIII, Inc. <br /> <br />Section 2. Creation of the TDR Bank Account for Plaza Isles LLC. The City Commission <br />hereby ratifies the creation of the TDR Bank account for 40,000 square feet and 20 units in the name <br />of Plaza Isles LLC. <br /> <br />Section 3. <br /> <br />Effective Date. This Resolution shall become effective upon adoption. <br /> <br />PASSED AND ADOPTED this 'l~day of September 2009. <br /> <br /> <br />Page I of2 <br />