Ordinance 2004-206 - Laserfiche WebLink

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I . .."II'" .."',,'" ,....'" ""''' 11'1' "~r 'rr "r ''''1' <<l ORDINANCE NO. 2004 - '2.0lo C i" 'I :: U (>i I: : (I .,\ ; ~ iJ L · ~ : l (II I..: :i!i I:; :!I< i) 17:. iI[' :p!! fL):;!:' :,,'::>,'10(1" [;':'./1 I Iii J : I ,:111 I Ilr::I.Eb ): ((Ill r t)i1 -['Iii: ITUE'i! ;'_:I;:II11 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, PROVIDING FOR THE ACCEPTANCE OF THE APPRAISED LAND VALUE OF FIVE MILLION SIX HUNDRED THOUSAND DOLLARS ($5,600,000.00) FOR THE PROPERTY LOCATED AT 16275 COLLINS A VENUE. A/KJA SAYAN; PROVIDING FOR THE ACCEPTANCE AND PAYMENT BY THE APPLICANT OF ONE MILLION THREE HUNDRED TWENTY-FOUR THOUSAND AND SIXTY-SIX DOLLARS ($1,324,066.00) FOR THE TRANSFER OF THIRTY- THREE THOUSAND SIX HUNDRED AND FIFTY-SEVEN (33,657) SQUARE FEET AND TWENTY-ONE (21) UNITS OF THE CITY'S TRANSFERABLE DEVELOPMENT RIGHTS; PROVIDING FOR AN ADJUSTMENT OF THE BALANCE OF TRANSFERABLE DEVELOPMENT RIGHTS FROM THE CITY'S BANK TO REFLECT A DECREASE OF THIRTY-SIX FOUR HUNDRED AND SEVENTY-SEVEN (36,477) SQUARE FEET AND TWENTY-ONE (21) UNITS AS DESCRIBED IN EXHIBIT "A"; PROVIDING FOR A REPEALER; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, on January 27,2003, the City Commission approved an application submitted by Mandalay LLC. ("Applicant") for site plan approval for property located at 16275 Collins Ave. a/k/a Sayan containing a transfer of thirty-three thousand six hundred fifty-seven square feet of development rights to be purchased from the City's Development Rights Bank ("Bank") as established pursuant to Ordinance 2003-179; and WHEREAS, pursuant to Section 265-23 D of the Code of the City of Sunny Isles Beach, the City Commission shall consider the acceptance of the appraised land value in the amount of five million six hundred thousand dollars ($5,600,000) for the receiving site; for the purpose of calculating the square foot value of the approved Transfer Development Rights; and, WHEREAS, the City Commission shall consider the acceptance of one million three hundred twenty-four thousand and sixty-six dollars ($1,324,066) for the transfer of thirty-three thousand six hundred fifty seven square feet (33,657) from the Bank; and WHEREAS, the property receiving the transfer of development rights ("TDRs") is located at North 59 feet oflot 95 together with the South 41 feet oflot 96 of Tatum Ocean Beach Park Pb 5 Pg 35 of the Public Records of Miami-Dade County, Florida. (hereinafter referred to as the "Receiving Site"); NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by reference as if they fully set forth herein. Section 2. Approval of Appraised Land Value. The City Commission hereby approves the appraised land value of five million six hundred thousand dollars ($5,600,000) ("Appraised Value"), for the Receiving Site. TDRs transfer to Sayan 1 I ""