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V <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />VIA: Stan Morris, City Manager <br />FROM: Claudia C. Hasbun, Planning and Zoning Director <br />DATE: February 17, 2022 <br />RE: Transfer of Development Rights (TDRs) Bank Account Annual Update (2021) <br />RECOMMENDATION: <br />Staff recommends approval of this Resolution. <br />REASONS: <br />The City Commission wishes to confirm the amount of development rights that are currently owned by <br />the City and private owners under our Transferable Development Rights (TDRs) program. Thi <br />documents attached to the Resolution delineate the amount of development rights that are in each <br />TDRs account. <br />Page one of the attachment outlines the development rights that the City has acquired during the <br />years. The City has acquired 2,370,282 square feet of floor area and 1,187 dwelling units from all the <br />properties. This page has no changes from last Fiscal Year. <br />Page two shows the amount of TDRs the City has transferred to private parties. The total amount o <br />City TDRs transferred is1,905,037 square feet of FAR and 947 dwelling units. There is a current <br />balance in the City's TDRs account of465,245 square feet and 240 dwelling units as of the date of this <br />memorandum. The reduction from the City's TDR bank account is relating to four TDRs transactions <br />firstly, the use of conditional TDRs for the Estates project in the amount of 47,399 square feet and 23 <br />dwelling units pursuant to Resolution No. 2018-2808, secondly, the sale of 287 square feet to a private <br />Item Number: 10.0 <br />152 <br />