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• <br /> CITY OF SUNNY ISLES BEACH <br /> • 18070 Collins Avenue <br /> Sunny Isles Beach, Florida 33160 S,NNy ist <br /> • 305.947.0606 <br /> • www.sibfl.net rs iw'4= <br /> May 11 2015 ry ''•F L o s° o4`. <br /> y � -- <br /> City Commission C1T�OF SUN P� <br /> George"Bud"Scholl Joe Milton <br /> Mayor <br /> St.Tropez Beach Developers, LLC <br /> Jeanette Gatto 3211 Ponce de Leon Blvd, Suite 301 <br /> Vice Mayor Coral Gables, Fl 33134 <br /> Isaac Aelion <br /> Commissioner Re: Transfer of Development Rights Credit <br /> Dana Goldman <br /> Commissioner Dear Mr.Milton: <br /> Jennifer Commissioner Based on the approval of St.Tropez Beach Developers LLC,et. al. ("Applicant")zoning <br /> application to reduce the density of the Parque Tower's project, the records of the City <br /> reveal that the Applicant under Resolution No. 15-Z-151, adopted on April 16, 2015, is <br /> Christopher J.Russo entitled to a credit of a Transfer Development Rights (TDRs) in the amount of 19,287 <br /> City Manager square feet of floor area and nine (9) dwelling units. The TDR Resolution from where <br /> Hans Ottinot the TDR credit will be deducting from was approved pursuant Resolution No.2013-2129 <br /> City Attorney adopted on October 17, 2013. Please note that purchased TDRs were for west side <br /> Jane A. Hines development and as such,the private bank will be restricted to west side assignment only. <br /> City Clerk,MMC <br /> To establish a private TDR bank account for the credit,a request for this credit transaction <br /> must be submitted to the City and approved by the City Commission. Please submit a <br /> letter to my office requesting the creation of a private TDR bank account. <br /> Please note that the useful life of a TDRs is five (5) calendar years from the creation of <br /> the private TDR bank account. If the TDRs in the private TDR bank account has not <br /> been used during that timeframe, the Applicant may request an extension under TDR <br /> extension program.The program provides an owner with the ability to extend the useful <br /> life of the TDRs up to ten (10) years upon payment of an annual fee. The annual fee is <br /> based on a formula which uses the millage rate of the City as the basis to determine the <br /> amount of the fee. <br /> Please be advised that a TDR bank does not create any vested rights to claim perpetual <br /> use of the development rights upon expiration of the rights. Should you have any <br /> questions,please feel free to contact me at(305) 792-1757. <br /> Si er' <br /> •` - <br /> Claus to Hasbun <br /> Planning and Zoning Administrator <br /> Cc: Christopher J. Russo, City Manager <br /> Stan Morris, Deputy City Manager <br /> Hans Ottinot, City Attorney <br /> Ed Castaneira, Axioma3architects <br />