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�~����� UU Beach <br />~�o�� ��n ������ .�n��� <br />18070CoUins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947{6O6City Hall <br />TO: Honorable Mayor and City Commissioners <br />VIA: Christopher J. Russo, City Manager <br />FROM: Claudia C. Hasbun, Development Services Director <br />DATE: September 14, 2021 <br />RE: Request for Purchase and Assignment of Public Transfer Development Right! <br />for the Bentley Residences (PZ2O21-06) <br />RECOMMENDATION: <br />Staff recommends approval of this Resolution. <br />REASONS: <br />According to She Man Approval and Transfer Development Rights applications /PZ2021-06\ , th' <br />Applicant is requesting to approve the purchase and assignment of Public Transfer Deve|npnnen| <br />Rights /TDRs\ inthe amount of12,564.58square feet ofFloor Area Ratio (FAR) and Udwelling unit <br />with an adjustment from the CityTDKs bank in the amount of1Z,564.58square feet ofFAR and 1� <br />dwelling units. <br />The [hv shall consider the acceptance of the appraised land value of $125.00 per square feet, for a <br />total mf$1,570,S73.5Ofor the Pub|icTDR's purchase. The Applicant shall provide the City with a non <br />refundable deposit in the amount of ten percent (10Y6) of the approved purchased price. The total <br />amount of the deposit is $157,057.25. The deposit is required within the three (3) working days of <br />approval of the Transfer Development Rights (TDRd application. <br />ADDITIONAL INFORMATION: <br />The attached TORAppraisal Report applies toitem 6Aand 1OO. <br />Resolution <br />TDRApp|icatlon <br />TDHAppraisal Report <br />Item Number: 10.M <br />