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<br />, ...- <br /> <br />"" <br /> <br />· 'nm 1Ill111l11 mil nm 111111111I111I1111 <br /> <br />ORDINANCE NO. 2003 -1E2B <br /> <br />AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, PROVIDING FOR THE <br />ACCEPTANCE OF THE APPRAISED LAND VALUE OF ONE MILLION <br />TWENTY-EIGHT THOUSAND AND NO/I00 DOLLARS ($1,028,000) FOR <br />THE PROPERTY LOCATED AT 17555 ATLANTIC BLVD. AfKJA KING <br />DAVID; PROVIDING FOR THE ACCEPTANCE AND PAYMENT BY <br />THE APPLICANT OF ONE HUNDRED SIXTY THOUSAND NINE <br />HUNDRED TWENTY DOLLARS ($160,920) FOR THE TRANSFER OF <br />EIGHTEEN THOUSAND (18,000) SQUARE FEET AND EIGHTEEN (18) <br />UNITS FROM THE CITY'S DEVELOPMENT RIGHTS; PROVIDING <br />FOR AN ADJUSTMENT OF THE BALANCE OF TRANSFERABLE <br />DEVELOPMENT RIGHTS FROM THE CITY'S BANK TO REFLECT A <br />DECREASE OF THIRTY ONE THOUSAND TWO HUNDRED SIXTY- <br />SIX (31,266) SQUARE FEET AND EIGHTEEN (18) UNITS AS <br />DESCRIBED IN EXHIBIT 'A'; PROVIDING FOR AN ADJUSTMENT OF <br />THE BALANCE OF DEVELOPMENT RIGHTS AVAILABLE; <br />PROVIDING FOR A REPEALER; PROVIDING FOR AN EFFECTIVE <br />DATE. <br /> <br />l: FI-'4 2()IO..j,.I:~:OO:3~:~7'8B <br />[il: bl: 21 '~n: 1:':3:; :?067 - 2070: :: 4'1l!1''') <br />m:J D~:I)EI) (11/15/2004 :l:l: 2::: : o:~; <br />Hfl~'VE'r' RlIVW, CLERK OF COURT <br />MIAMI-DADE CDUHTY, FLDRIDA <br /> <br />WHEREAS, on February 20, 2003, S&G of Miami Beach, Inc. ("Applicant") submitted <br />an application for site plan approval located at 17555 Atlantic Blvd. aIkIa King David containing <br />a transfer of eighteen thousand (18,000) square feet of development rights (''TOR'S'') to be <br />purchased from the City's Development Rights Bank ("Bank") as established pursuant to <br />Ordinance 2003-179, and <br /> <br />WHEREAS, pursuant to Section 265-23 D of the Code of the City of Sunny Isles Beach <br />Land Development Regulations, the City Commission shall consider the acceptance of the <br />appraised land value in the amount of one million twenty-eight thousand dollars ($1,028,000) for <br />the receiving site; for the purpose of calculating the square foot value of the approved Transfer <br />Development Right, and <br /> <br />WHEREAS, the City Commission shall consider the acceptance of one hundred-sixty <br />thousand nine hundred twenty dollars ($160,920) for the transfer of eighteen thousand square <br />feet (18,000) from the Bank, and <br /> <br />WHEREAS, the property receiving the transfer of development rights is located <br />at 17555 Atlantic Blvd, a/kIa King David more particularly described as: All of Lots 5, 6, <br />and 7, Block 9, Sunny Isles Shores Section "B", according to the plat thereof as recorded in Plat <br />book 65 Page 47 of the public records of Miami-Dade County, Florida (hereinafter referred to as <br />Receiving Site, <br /> <br />NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br /> <br />TORs Transfer to King David <br /> <br />Page 1 of 3 <br />