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RESOLUTION NO. 2012".q <br />A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, CONFIRMING THE <br />BALANCE OF DEVELOPMENT RIGHTS CURRENTLY HELD IN <br />THE TDR BANK ACCOUNTS BY THE CITY OF SUNNY ISLES <br />BEACH AND PRIVATE OWNERS, ATTACHED HERETO AS <br />EXHIBIT "A "; REQUIRING YEARLY UPDATES OF ACCOUNT <br />BALANCES HELD BY PRIVATE OWNERS AND THE CITY; <br />PROVIDING THE CITY MANAGER WITH THE AUTHORITY <br />TO DO ALL THINGS TO EFFECTUATE THIS RESOLUTION; <br />PROVIDING FOR AN EFFECTIVE DATE. <br />WHEREAS, the City continues to seek to create more open space, parks and <br />recreational facility and the need for recreational facilities has been facilitated by the development <br />rights ordinance ( "TDR" Ordinance); and <br />WHEREAS, the TDR Ordinance has played an instrumental role in making the City <br />greener by facilitating the creation of open space throughout the City; and <br />WHEREAS, the City Commission wishes to confirm the amount of TDRs currently <br />owned by the City of Sunny Isles Beach and private owners. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY <br />OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br />Section 1. Development Rights Account Balance. The City Commission hereby <br />confirms the balance of development rights owned by the City and private owners. <br />Section 2. Authority of the City Manag_er. The City Commission hereby directs the City <br />Manager or designee to provide yearly updates of TDR Bank account balances. <br />Section 3. <br />Effective Date. <br />This Resolution shall become effective upon adoption. <br />PASSED AND ADOPTED this 184-11 day of October, 2012 <br />S. Edelcup, <br />ATTEST: <br />Jane A. Hines; City Clerk <br />