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<br />Section 2. Authorizing the Donation of TDRs from the City to Gilco Realty, LLC and/or <br />18555 Developers, LLC As an incentive for development, the City Commission hereby <br />approves a donation of transfer of development rights in the amount of Eighty One Thousand <br />(81,000) square feet of floor area and Forty Two (42) units to Gilco Realty, LLC and/or 18555 <br />Developers, LLC for the property located at 18555 Collins A venue. The TDRs are assignable <br />and portable by Gilco Realty, LLC and/or 18555 Developers, LLC. The donation of the TDRs is <br />condition on the approval of the site plan filed by Gi1co Realty, LLC and the donation of land for <br />mitigation purposes by TRG Sunny Isles VII West, LLC. <br /> <br />Section 3. Directive to Zoning Administrator. The Zoning Administrator or their designee is <br />hereby directed to donate the transfer of development rights in the amount of Eighty One <br />Thousand (81,000) square feet of floor area and Forty Two (42) units to Gilco Realty, LLC <br />and/or 18555 Developers, LLC for the property located at 18555 Collins Avenue. <br /> <br />Section 4. Authority of the City Manager and City Attorney. The City Manager and City <br />Attorney are hereby authorized to do all things necessary to effectuate this Resolution. <br /> <br />Section 5. <br /> <br />Effective Date. This Resolution shall become effective upon adoption. <br /> <br />PASSED AND ADOPTED this 17th day of November, 2011. <br /> <br />~ <br /> <br /> <br />.?/ <br /> <br />ATTEST: <br /> <br />~~J !\'~~ <br /> <br />Ja?e1A. Hines,.pty Clerk <br /> <br />l \ <br /> <br />, ~ ...... -.I <br />APPROVED AS TO FORM <br />AND G UFFICIENCY: <br />,/ <br /> <br /> <br />Moved by: ~~ A-<v-\~A.J <br />Seconded by: C.e~ ~<-HDLL <br /> <br />Vote: ~-o <br /> <br />Mayor Edelcup <br />Vice Mayor Thaler <br />Commissioner Aelion <br />Commissioner Gatto <br />Commissioner Scholl <br /> <br />V (Yes) <br />v{Y es) <br />0Y es) <br />k:1Y es) <br />~Yes) <br /> <br />_(No) <br />_(No) <br />_(No) <br />_(No) <br />_(No) <br /> <br />GiIco Realty, LC IDR Bank <br /> <br />Page 2 of2 <br />