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January 15, 2026 <br />PZ2025-08 <br />spaces exists to support the concept of shared parking. The Applicant provided a parking <br />study prepared by Kimley Horn and it was reviewed by the City's Traffic Engineering <br />consultant. The study confirmed that eight (8) spaces may be shared between the two <br />uses as the uses will utilize the parking spaces at different times of the day. <br />§265-56 Nonresidential, Town Center.and Mixed -Use Resort District Signs <br />`Code Standard <br />Required <br />Provided <br />Maximum Number of <br />1 <br />1 <br />Monument Signs <br />Maximum Monument <br />78 sq. ft. <br />42 sq. ft. <br />Sign Size <br />Maximum Monument <br />15, <br />7' <br />Sign Height <br />Monument Sign Setback <br />6' <br />6' <br />Maximum Wall Sign Size <br />35 sq. ft. <br />35 sq. ft. <br />§265-23 Transfers of Development Rights <br />The property is zoned Mixed Use — Resort District and therefore is an eligible receiver <br />site of Transferable Development Rights (TDRs) according to City Code Sec. 265- <br />23.D.(1). The Applicant requests purchasing 120,972.18 square feet of floor area and 48 <br />dwelling units from the City's public TDR bank account. The appraisal report completed <br />by Appraisal First Real Estate Appraisers, LLC, date stamped received January 6, 2025, <br />reflects the square foot market value of the subject property (19501 Collins Ave) as One <br />Hundred Twenty-five Dollars ($125.00) per square foot. The Applicant has agreed to pay <br />the square foot value of One Hundred and Twenty -Five Dollars ($125.00). Thus, the total <br />TDR purchase is fifteen million, one hundred twenty-one thousand, five hundred twenty- <br />two dollars and fifty cents ($15,121,522.50). A 10% non-refundable deposit is required, <br />which shall be paid within three working days of the date of City Commission approval of <br />the application. Please refer to Condition No. 10 in Section VII I. <br />VII. FINAL ANALYSIS <br />Based on the review and analysis provided, the proposed Miami Beach Club development <br />project is consistent with the City of Sunny Isles Beach Comprehensive Plan and all <br />applicable provisions of the City's Land Development Regulations. The project is <br />consistent with the policies of the Mixed Use —High Density Resort future land use <br />category by providing a high -quality residential development with accessory resort -style <br />amenities, while maintaining compatibility with surrounding properties and the beachfront <br />environment. <br />Concurrency requirements for public facilities and services, including transportation, <br />potable water, sanitary sewer, drainage, solid waste, parks, and public schools, have <br />Page 8 of 18 <br />18 <br />