Laserfiche WebLink
Summary Minutes:Regular City Commission Meeting December 18,2003 City of Sunny Isles Beach.Florida <br /> Mayor Edelcup agreed with Commissioner Iglesias that it is important to get land for the <br /> City but he feels the Commission also has a responsibility to make sure that in doing so,it <br /> doesn't ignore the fact that there is a lot of dollars involved every time we increase an <br /> FAR. He stated that just by the Commission saying that we are going to get the land <br /> anyway and it doesn't matter about the money, when in effect we are creating monopoly <br /> money, and he feels that the Commission has to look and see what is fair for all parties,it <br /> is fair for the City to get a piece of land that can be used for a park, and it is fair for the <br /> owner of the property to get a reasonable profit, but he doesn't think we need to enrich <br /> that person with a gorging of profits. He said one of the things that we have to look at <br /> when we are creating these ordinances for TDRs is the fact that somebody needs to do the <br /> math and say what is the end number. He stated that an FAR of 4.0 today on the west side <br /> based on land values on the east side, translates to significant dollars for every acre, an <br /> FAR of 1.0 is worth 1.0, so an FAR of 4.0 brings an acre on the west side to a significant <br /> amount of money based on the $50 or $60 a square foot for every FAR of 1.0, we are <br /> talking$2 Million per acre in value that we are creating by just allowing an FAR number <br /> to appear there. <br /> Mayor Edelcup felt that ten years is too long because we are taking that property off the <br /> tax rolls, and in effect relieving the owner of that property from any taxes in the future, <br /> and we are sitting there with ten years of no revenue coming to the City as a result of <br /> somebody speculating that they want to wait until the tenth year. He said that was one of <br /> the reasons why, when we passed the original TDR Ordinance, we said five years was <br /> sufficient time for someone to dispose of the property, and if there is an economic <br /> downturn in the Country and there is a logical hardship reason,certainly the Commission <br /> then could extend that time. He further stated that we needed to ensure that the numbers, <br /> the rewards to the developer for giving us that land, are within the bounds of reason. <br /> Commissioner Iglesias said that Mayor Edelcup brought up two very good points, and he <br /> doesn't necessarily disagree with both, if he was sitting here in the Commission ten years <br /> from now, he wouldn't have a problem, but the bottom line is we don't know who is <br /> going to be there, and if the City wants land, which it wants, it should give and take. He <br /> said he personally doesn't care what a developer makes or doesn't make as long as he has <br /> money because we are benefiting indirectly, however,he said he does have to agree with <br /> Mayor Edelcup's second part as far as taking them off from the tax roll and ten years may <br /> be too much, however, with the way the development is going right now, he doesn't <br /> foresee that a problem. He further stated that we could put in a caveat that we could split <br /> a different somewhere from sender site to sender site. He said he agreed that we shouldn't <br /> bank the TDRs where somebody can come in and just buy them and hold them off, <br /> because he can come in and buy them off now and hold off for five or six years. <br /> Commissioner Brezin said she does not feel that they should go to a ratio of 4.0. She <br /> stated that at this point she would like to make a motion if it is in order at this time, she <br /> has no objection to anything else in this Ordinance. She said the only part that she does <br /> 10 <br />