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ORDINANCE NO. 2012- 3<2> l AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AMENDING SECTIONS 265-34, 265-35, 265-36 AND 265-38 OF THE ZONING CODE TO CORRECT A SCRIVENER ERROR; PROVIDING FOR A REPEALER; PROVIDING FOR SEVERABILITY; PROVIDING FORAN EFFECTIVE DATE. WHEREAS, it has been determined that the bonus system needs to be amended to correct a scrivener's error regarding the calculation of price of participation units; and WHEREAS, the City Commission wishes to amend the bonus system to correct the scrivener's error. NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Amendment to Section 265-34. D. Site development standards. (8) Allowable increases in floor area ration. The floor area ratio for developments that provide certain features shall be increased to a floor area ratio not to exceed 2.5 in conformance with the following provisions and limitations: (a) Public streets cape bonus. The floor area ratio shall be increased for developments that participate in the City's Streetscape Trust Fund as established and administered by the City of Sunny Isles Beach for the purposes of implementing capital improvements, public streetscape improvements and pedestrian system design and safety enhancements for public streets, including local, collector, secondary and primary arterial roadways, and public shorelines in the City, which are policy objectives of the adopted City of Sunny Isles Beach Comprehensive Plan. A bonus of 0.05 increase in F.A.R. shall be granted for each participation unit contributed to the capital improvement fund for roadway enhancements, up to a maximum additional 0.50 F.A.R. bonus. Additional bonus floor area ratio up to 2.5 may be allowed for properties without water frontage. A participation unit, for the purpose of the public streetscape enhancement bonus, shall be equal to $72,000 and may be adjusted from time to time by the City Commission pursuant to a recommendation by the City Manager. The cost of a participation unit shall be determined by the amount of participation units purchased at the unit price multiplied by the total number of acres contained in the subiect parcel. Additionally, the City Manager and/or his designee shall review the bonus participation unit price set forth herein every two years. Ordinance Amending Sections 265-34, 35, 36 and 38 1 Words underlined are added, words ~ are deleted.