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r aD FL00. 4� <br />L s <br />f C'rr Of SUM e�C <br />TO: <br />FROM: <br />VIA: <br />DATE: <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947 -0606 City Hall <br />(305) 949-3 1 13 Fax <br />(305) 947 -2150 Building Department <br />(305) 947 -5107 Fax <br />MEMORANDUM <br />The Honorable Mayor and City Commission <br />Claudia Hasbun, Zoning Administrator /Planning Manager <br />Christopher J. Russo, City Manager <br />July 31, 2014 <br />RE: Turnberry Ocean Club - <br />18501 Collins Avenue <br />Appl. No. PZ2014 -08 <br />REQUEST: <br />Transfer Development Rights <br />City Commission <br />Norman S. Edelcup, Wayor <br />[sane Aelion, Vice Mayor <br />Jeanette Gatto, Commissioner <br />Jennifer Levin. Commissioner <br />George "Bud" Scholl. Commissioner <br />Christopher J. Russo, City Afanager <br />Hans Ottinot, City Aaorney <br />Jane A. Hines, MMC, City Clerk <br />The Applicant is requesting to approve the transfer of Transfer Development Rights (TDRs) in <br />the amount of 137,833 square feet of development rights and 55 dwelling units with a <br />conditional credit of 24,634 square feet of floor area and 9 dwelling units. The City TDR Bank <br />account adjustment shall reflect 137,833 square feet of development rights and 55 dwelling <br />units subject to the conditional credit. <br />The Applicant has agreed to donate to the City the land located on 185 to Street and Atlantic <br />Avenue known as the Turnberry parking lot for a conditional credit of TDRs in the amount of <br />24,634 square feet of floor area and 9 dwelling units. <br />The City shall consider the acceptance of the appraised land value of $125.00 per square feet, <br />for a total of $14,300,125 for the TDRs purchase for 113,199 square feet of floor area and 46 <br />dwelling units, based on the conditional credit of TDRs. The Applicant shall provide the City <br />with a non - refundable deposit in the amount of ten percent (10 %) of the approved purchased <br />price. The total amount of the deposit is $1,430,013. The deposit is required within the three <br />(3) working days of approval of the Transfer Development Rights (TDRs) application. <br />RECOMMENDATION: <br />Staff has no objection to the TDRs assignment provided that all conditions for the Site Plan are <br />satisfied. <br />ATTACHMENTS: <br />• Resolution <br />• Appraisal Summary <br />• TDR Application <br />Agenda Item 5A <br />Date -7-31-1 <br />