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<br /> <br />TO: <br /> <br />VIA: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />RE: <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33 160 <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler, Vice Mayor <br />Roslyn Brezin, Commissioner <br />Gerry Goodman, Commissioner <br />Dann)' Iglesias, Commissioner <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />A. John Szerlag, City Manager <br />Hans Ottinot, City AI/orney <br />Jane A. Hines, CMC, City Clerk <br /> <br />MEMORANDUM <br /> <br />The Honorable City Commission <br /> <br />A. John Szerlag, City Manager <br /> <br />Jorge L. Vera, Assistant City Manager <br />Robert Solera, Community Development Director <br /> <br />January 18,2007 <br /> <br />Transfer of Development Rights for TRG Desert Inn Ventures, Ltd. <br /> <br />RECOMMENDATION: <br /> <br />This resolution is presented for your consideration, <br /> <br />REASONS: <br /> <br />The Applicant, TRG Deseli Inn Ventures, Ltd" is requesting a Transfer of Development Rights <br />in the amount of 9,757 square feet and Zero (0) dwelling units to be used in the proposed <br />development for the property located at 17201 Collins Avenue, An adjustment shall be made to <br />the City's TDR Bank balance to reflect the sale of TDRs to the Applicant to reflect the reduction <br />of9,757 square feet or floor area and Five (5) dwelling units. <br /> <br />Calculation ofTDRs: The appraisal value of the property is $62,000,000,00 divided by 471,624 <br />square feet (FAR plus bonus) is $131.46 per square feet multiplied by 9,757 square feet ofTDRs <br />requested, Total payment to be received by the City for the purchase of the TDRs is <br />$1,282,655,00, <br /> <br />To be com feted b Ci ClerICs Office <br /> <br /> <br />Funding ayailab1c: <br /> <br />To be com feted b De artmcnt Ilead <br /> <br />Agenda Item No.: <br /> <br />Appro\'al: <br /> <br />1- ( 'It. Dl <br /> <br />Finance Dt.p:utmcnt <br /> <br />Cit)' Manager <br /> <br />Deem Four TDR Memo <br /> <br />Commission i\kcting Date: <br />