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r,rr ofPLO <br />swK ��� <br />TO: <br />VIA: <br />FROM: <br />DATE: <br />RE: <br />RECOMMENDATION: <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 />Honorable Mayor and City Commissioners <br />Stan Morris, City Manager <br />Amy Canales, Planning and Zoning Director <br />June 15, 2023 <br />Purchase of TDRs for Balcony Enclosure at 17749 Collins Avenue, Unit 180: <br />(Application No. PZ2023-08) <br />Staff has compiled the relevant facts of the requested purchase and assignment of TDRs anc <br />recommends the application be presented to City Commission for consideration. <br />REASONS: <br />The Applicant is requesting approval for the purchase and assignment of TDRs in the amount of 31-2 <br />square feet of floor area and 0 dwelling units from the City's public TDR bank account. The appraisa <br />report completed by Appraisal First Real Estate Appraisers, LLC., date stamped May 5, 2023, reflect <br />the square foot market value of the subject property (17749 Collins Ave) as $125.00 per square foot. <br />The Applicant has agreed to pay the square foot value of $125.00.Thus, the total TDR purchase i! <br />$39,125.00. The total amount of the approved purchase price of $39,125.00 for the TDRs is due withir <br />ten (10) working days of approval. The effect of the TDRs purchase and approval on the project woulc <br />be an increase in intensity (square footage) for the Mansions at Acqualina project. <br />ATTACHMENTS: <br />Resolution <br />TDR Application <br />Appraisal Report <br />Item Number: 10.A <br />193 <br />