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µNY /s,�� <br />City of Sunny Isles Beach <br />n <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />'9 oP�a <br />(305) 947-0606 City Hall <br />F� FLQ% gas <br />(305)949-3113 Fax <br />MEMORANDUM <br />TO: <br />The Honorable Mayor and City Commission <br />VIA: <br />Christopher J. Russo, City Manager <br />FROM: <br />Claudia C. Hasbun, Planning and Zoning Director <br />DATE: <br />11 /19/2020 <br />RE: <br />Annual Transfer of Development Rights Report <br />RECOMMENDATION: <br />This Resolution is recommended for approval. <br />REASONS: <br />The City Commission wishes to confirm the amount of development <br />rights that are currently owned by the City and private owners under <br />our Transferable Development Rights (TDR) program. The documents <br />attached to the Resolution delineate the amount of development rights <br />that are in each TDR account. <br />Page one of the attachment outlines the development rights that the <br />City has acquired during the years. The City has acquired 2,370,282 <br />square feet of floor area and 1,187 dwelling units from all the <br />properties. This account has no changes from last Fiscal Year. <br />Page two shows the amount of TDRs the City has transferred to <br />private parties. The total amount of TDRs transferred is 1,844,444 <br />square feet of FAR and 912 dwelling units. There is a current balance <br />in the City's TDRs account of 525,838 square feet and 275 units as of <br />the date of this memorandum. The reduction from the City's TDR bank <br />account is relating to two TDRs transactions, first, the sale of 229 <br />square feet to the Mansions at Acqualina pursuant to Resolution No. <br />2019-2953 and, secondly, the sale of 789 square feet to the Mansion <br />atAcqualina pursuant to Resolution No. 2019-2954. <br />Page three of the attachment shows the funds collected by the City <br />from the sale of TDRs for development projects. Over the years, the <br />City has collected $64,929,964.75 from the sale of TDRs. There is <br />another $30,391,824.50 that the City expects to collect in the near <br />future from approved projects. This past Fiscal Year, TDRs payment <br />were received from the Mansions at Aqualina balcony enclosure <br />projects. <br />Finally, page four delineates the accounts that show the amount of <br />development rights privately owned. The accounts total 236,063 <br />square feet of floor area and 107 dwelling units. There has been no <br />modification to the private TDRs account since last report. <br />ADDITIONAL INFORMATION: <br />ATTACHMENTS: <br />Description <br />Resolution <br />Re ort <br />