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ORDINANCE NO. 2018- 521 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AMENDING SECTIONS 265-34, 265-35, 265-36 AND 265-38 OF THE ZONING CODE TO INCREASE THE PRICE OF BONUS PARTICIPATION UNIT; PROVIDING FOR A REPEALER; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Manager has conducted an analysis of the bonus system utilized by the City; and WHEREAS, the City Commission has determined that the price for a participation unit in the bonus system should be increased based on the analysis prepared by the City Manager. NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Amendment to Section 265-34. D. Site development standards. (8) Allowable increases in floor area ration. The floor area ratio for developments that provide certain features shall be increased to a floor area ratio not to exceed 2.5 in conformance with the following provisions and limitations: (a) Public streetscape bonus. The floor area ratio shall be increased for developments that participate in the City's Streetscape Trust Fund as established and administered by the City of Sunny Isles Beach for the purposes of implementing capital improvements, public streetscape improvements and pedestrian system design and safety enhancements for public streets, including local, collector, secondary and primary arterial roadways, and public shorelines in the City, which are policy objectives of the adopted City of Sunny Isles Beach Comprehensive Plan. A bonus of 0.05 increase in F.A.R. shall be granted for each participation unit contributed to the capital improvement fund for roadway enhancements, up to a maximum additional 0.50 F.A.R. bonus. Additional bonus floor area ratio up to 2.5 may be allowed for properties without water frontage. A participation unit, for the purpose of the public streetscape enhancement bonus, shall be equal to $200,000$4-00,000 and may be adjusted from time to time by the City Commission pursuant to a recommendation by the City Manager. The cost of a participation unit shall be determined by the amount of participation units purchased at the unit price multiplied by the total number of acres contained in the subject parcel. Additionally, the City Ordinance Amending Sections 265-34,35.36 and 38 1 Words underlined are added,words stricken are deleted.