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Summary Minutes:Regular City Commission Meeting April 17,2014 City of Sunny Isles Beach,Florida <br /> It is a Charter requirement [Section 7.6] and we are now codifying it. <br /> Public Speakers: None <br /> Vice Mayor Aelion moved and Commissioner Scholl seconded a motion to approve the <br /> proposed Ordinance on first reading. The motion was approved by a roll call vote of 5- <br /> 0 in favor. Second reading,public hearing will be held on Thursday,May 15,2014,at <br /> 6:30 p.m. <br /> Vote: Commissioner Gatto yes <br /> Commissioner Levin yes <br /> Commissioner Scholl yes <br /> Vice Mayor Aelion yes <br /> Mayor Edelcup yes <br /> 7E. An Ordinance of the City Commission of the City of Sunny Isles Beach, Florida,Amending <br /> Section 265-23 of the City Code to Clarify the Process to Extend the Useful Life of <br /> Transfer of Development Rights ("TDRs"); Providing For Repealer; Providing For <br /> Severability; Providing For Inclusion In The Code; Providing For An Effective Date. <br /> Action:[City Clerk's Note: Heard with Item 10A.] Mayor Edelcup asked that this be heard <br /> with related Item 10A, and City Clerk Hines read both titles into the record. City Attorney <br /> Ottinot reported that the City Commission required privately owned TDRs have a life span of <br /> five (5) years, however, after the real estate crash between 2005-2009, the Commission <br /> agreed to extend the life span of TDRs provided they pay an extension fee of$30 per square <br /> foot. Now the extension fee will be based on $65.00 per square foot. <br /> Public Speakers: None <br /> Mayor Edelcup said essentially we created this because we knew the life of TDRs in some <br /> instances would be beyond the five(5)years normally granted. In order to recognize that fact <br /> we created this fee which was built on a concept theory to our property tax that we pay every <br /> year on our real estate. We used the millage rate of the current year in the formula, and we <br /> used the base value which is now being proposed at $65 a square foot for the TDRs and <br /> apply the math to the number of TDRs that someone has and that becomes the fee that we <br /> recognize. We have collected it for the past four (4) to five (5) years as it related to some <br /> TDRs that currently exists that have not been put into final development. <br /> Vice Mayor Aelion moved and Commissioner Scholl seconded a motion to approve the <br /> proposed Ordinance on first reading. The motion was approved by a roll call vote of 5- <br /> 0 in favor. Second reading, public hearing will be held on Thursday, May 15,2014,at <br /> 6:30 p.m. <br /> Vote: Commissioner Gatto yes <br /> Commissioner Levin yes <br /> Commissioner Scholl yes <br /> Vice Mayor Aelion yes <br /> Mayor Edelcup yes <br /> 6 <br />