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<br />RESOLUTION NO. 2011 - I,Cf 7 <br /> <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY <br />ISLES BEACH, FLORIDA, REMOVING THE USE RESTRICTION <br />IMPOSED ON THE TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") <br />OWNED BY FORT APACHE MARINA, LLC ("FORT APACHE"); <br />PROVIDING FOR A TRANSFER FEE; PROVIDING THE CITY MANAGER <br />WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO <br />EFFECTUATE THIS RESOLUTION; PROVIDING FOR A REPEALER; <br />PROVIDING FOR AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City created a TDR sub bank account for Fort Apache Marina, LLC, ("Fort <br />Apache") on or about October 16, 2005; and <br /> <br />WHEREAS, the sub bank account for Fort Apache currently has 34, 485 square feet and 19 <br />units ofTDRs; and <br /> <br />WHEREAS, the TDRs owned by Fort Apache are required to be used strictly in conjunction <br />with an approved site plan on the west side of Collins A venue; and <br /> <br />WHEREAS, the City Commission wishes to remove the use restrictions imposed on the <br />TDRs owned by Fort Apache Marina, LLC, provided that a transfer fee is paid to the City. <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. Deleting Restriction on Use TDRs. The City Commission hereby deleted the use <br />restriction imposed on the TDRs owned by Fort Apache Marina, LLC. in accordance with Resolution <br />Nos. 2005-754, 2005-755, and 2005-784 ("Resolutions "). <br /> <br />Section 2. Transfer Fee. As a condition precedent of deleting the use restriction set forth in the <br />Resolutions, Fort Apache shall pay the City a minimum fee of$15.00 per square feet from the total <br />amount of TDRs owned by Fort Apache pursuant to Section 265-23 (G) of the City Code. The <br />transfer fee shall be $517,275.00 based on the ownership of34, 485 square feet ofTDRs owned by <br />Fort Apache. <br /> <br />Section 3. Authorization of the City Manager. The City Manager is hereby authorized to do all <br />things to effective this Resolution. <br /> <br />Section 4. Repealer. The use restrictions imposed pursuant to the Resolutions on the TDRs <br />owned by Fort Apache is hereby terminated. The Resolution shall not apply to any other TDR bank <br />account. <br /> <br />Section 5. <br /> <br />Effective Date. This Resolution will become effective upon adoption <br /> <br />Page I of2 <br />