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10 at Page 64 of the Public Records of Miami -Dade County, Florida, extending from the Erosion Control Line of the Atlantic Ocean, said line recorded in Plat Book 134 at Page 47 of the Public Records of Miami -Dade County, Florida to the East right of way of State Road A -1 -A (formerly State Road 140), as said road is shown on a Plat thereof, recorded in Plat Book 47 at Page 101, of the Public Records of Miami -Dade County, Florida. Parcel J. The Southerly 100 feet of Lot 1. TATUM'S OCEAN PARK SUBDIVISION, according to the plat thereof as recorded in Plat Book 10 at Page 64 of the Public Records of Miami -Dade County, Florida, said property described as follows: Bounded on the West by the East right of way line of Ocean Boulevard (State Road A -1 -A and State Road 140), said road recorded in Plat Book 47 at Page 101 of the Public Records of Miami -Dade County, Florida: bounded on the East by the Erosion Control Line of the Atlantic Ocean. said line recorded in Plat Book 134 at Page 47 of the Public Records of Miami -Dade County, Florida: bounded on the North by the Northerly line of the Southerly 100 feet of Lot 1: bounded on the South by the Southerly line of referenced Lot 1. WHEREAS, the City Commission agrees to authorize the transfer of the TDRs contemplated herein in accordance with Section 265 -23 of the Code of the City of Sunny Isles Beach. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Incorporation of Recitals. The foregoing recitals are true and correct and are incorporated herein by reference as if they are fully set forth herein. Section 2. Authorizing the Utilization of Transfer of Development Rights. Pursuant to Section 265 -23 of the City Code and in accordance with Zoning Resolution No. 13--2-1 the City Commission hereby authorizes the utilization of transfer of the development rights in the amount of 22,764 square feet of floor area and 11 dwelling units to Sunny Isles Beach Associates, LLC. from the Private's TDR account. Section 3. Approval of Assignment of the TDRs. The City Commission hereby approves the assignment agreement attached as Exhibit "A" for the 22,764 square feet of TDRs and 11 units between Abus, LLC to Sunny Beach Associates, LLC. Section 4. Directive to Zoning Administrator. The City's Zoning Administrator or designee is hereby directed to transfer the development rights from TDR Bank to Sunny Isles Beach Associates, LLC., in accordance with Zoning Resolution No. 13 Z f 3L The City's Zoning Administrator or designee is hereby directed to adjust the Private's TDR Bank to reflect a deduction of 22,764 square feet of TDRs and 1 I units from the Private's TDR Bank account. Section 5. Authority of the City Manager. The City Manager is hereby authorized to do all things necessary to effectuate this Resolution. lade Signature - .bus Private TDR Bank Page 2 of 3