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ORDINANCE NO. 2012 -_385 <br />AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF <br />SUNNY ISLES BEACH, FLORIDA, AMENDING SECTION 265 -25 OF <br />THE LAND DEVELOPMENT REGULATIONS TO REQUIRE A <br />NONREFUNDBALE DEPOSIT OF TEN PERCENT (10 %) FOR THE <br />PURCHASE OF BONUS UNITS WITHIN CERTAIN ZONING <br />DISTRICTS; PROVIDING FOR ZONING IN PROGRESS; PROVIDING <br />FOR REPEALER; PROVIDING FOR SEVERABILITY; PROVIDING <br />FOR INCLUSION IN THE CODE; PROVIDING FOR AN EFFECTIVE <br />DATE AND APPLICABILITY. <br />WHEREAS, the City of Sunny Isles Beach (the "City ") desires to facilitate and expedite <br />the development of real estate projects throughout the City; and <br />WHEREAS, in order to accomplish this goal, the City desires to require that applicants <br />shall be required to pay a nonrefundable deposit of ten percent (10 %) for the purchase of bonus <br />units, which shall be paid within three working days of the date of City Commission approval of <br />the site plan application; and <br />WHEREAS, the City Commission desires to expedite and ensure the proposed <br />development is constructed within the time frame permitted by the Land Development <br />Regulations. <br />NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE <br />CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: <br />Section 1. Incorporation of Recitals. The foregoing "WHEREAS" clauses are hereby ratified <br />and confirmed as being true and correct and are hereby made a specific part by this Ordinance <br />upon adoption hereof. <br />Section 2. Amendment. Section 265 -25 of the City Code is amended to read as follows: <br />§ 265 -25. Zoning districts and boundaries. <br />G. Bonus Unit Deposit Required An applicant shall be required to pay a ten percent (10 %) <br />nonrefundable deposit for any bonus units purchased at the time of approval of site plan <br />The deposit shall be paid within three working days of the date of City Commission <br />approval of the site plan application Failure to make such deposit within the prescribed <br />time frame shall result in an automatic voiding of the City Commission approval The <br />requirements of this section shall apply to any zoning district in the City that provides <br />monetary bonuses to increase the floor area ratio of a development project <br />Words added underlined, words stFiOwn deleted (ed) Page I of 3 <br />