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CITY op <br />City Commission • The St. Regis Residences (formally known as La Playa Varadero) is <br />located at 18801 Collins Avenue and is approved for two mixed-use <br />LaSvechin towers, standing 62 stories each, with 490 residential units and <br />Mayyoror approximately 1,228,435 square feet of floor area. The sales center is <br />Alex Lama currently operating at this location. Construction of Phase I (the south <br />Vice Mayor tower) is anticipated to begin in 2024. <br />Jerry Joseph <br />Commissioner • The Bentley Residences is a single, 62 -story tower located at 18401 <br />FabCollins Avenue that is approved for 216 residential condominium units <br />Commissioner Stuyvesant with a floor area of 616,185 square feet. The tower will replace the <br />Commis <br />Thunderbird Beach Resort and broke ground in April of 2024. <br />Jeniffer Viscarra <br />Commissioner Projects expected to start in the 2024-25 fiscal year and beyond include the <br />® following: <br />Stan Morris • Hotel Monaco is located at 17501 Collins Avenue and is approved for <br />City Manager 113 hotel units with a floor area of 5 0,7 84 square feet and will be three <br />stories tall. <br />Mauricio Betancur <br />City clerk, CMC The City expects a modest steady growth in the tax base to continue for the next <br />several years resulting from reassessments of existing property that turnover to <br />new buyers and also a steady growth in new construction additions for FY 2024 <br />through FY 2028, as highlighted above. <br />The City is closely monitoring state legislative proposals and their potential <br />impacts and limitations to Florida municipalities. <br />LONG-RANGE FINANCIAL PLANNING <br />The City Commission has adopted financial policies for operating, capital, <br />investments, and debt management. Annually, the City Manager has budget <br />meetings with the elected officials and individual departments that are used as a <br />guide in the preparation and development of the annual budget. <br />The Capital Improvements Program (CIP) is prepared and presented to the City <br />Commission, as a five-year plan, as part of the annual budget process. The <br />projects represent the City's long-range plan for facilities, infrastructure <br />improvements, traffic circulation and pedestrian safety improvements, as well <br />as park acquisition and development. <br />viii <br />CITY OF SUNNY ISLES BEACH <br />- -�-T—� 18070 Collins Ave, Sunny Isles Beach, FL 33160 <br />sibfl.net 1305.947.0606 <br />