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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 />George "Bud" Scholl, Commissioner
<br />
<br />(305) 947-0606 City Hall
<br />(305) 792- J 565 Fax
<br />(305) 947-2150 Building Department
<br />
<br />A. John Szerlag, City Manager
<br />Hans Ottinot, City Attorney
<br />Jane A. Hines, City Clerk
<br />
<br />MEMORANDUM
<br />
<br />Honorable Mayor and City Commission
<br />
<br />A. John Szerlag, City Manager . ~
<br />
<br />Jorge L. Vera, Assistant City Manager/ Service Division~ (\ ~
<br />Doug Haag, Assistant City Manager / Finance DiviSiOU \J
<br />
<br />January 16,2008
<br />
<br />TDR's and Bonuses
<br />
<br />Developer Reso Beach Collins Public Total
<br />expiration Beach trust enhancemet streetscape parking TDR
<br />Solis Nov.17/07 183,000 458,000 275,000 183,000 5,156,017 6,255,000
<br />Da Vinci Dec.08/07 179,000 298,000 179,000 119,000 3,959,713 4,734,000
<br />Regalia 0 166,460 99,876 66,584 3,214,592 3,547,000
<br />Tropez 2 July 20108 0 0 0 0 1,162,616 1,162,000
<br />CHI Oct.17/08 266,700 444,500 266,700 177,800 3,749,268 4,904,000
<br />Ocn
<br />Beach Nov.16/08 312,000 520,000 312,000 208,000 6,810,168 8,162,000
<br /> Sept
<br />Fairmont 20109. 458,600 1,146,500 687,900 458,600 0 2,751,000
<br />Total 1,399,000 3,033,000 1,820,000 1,212,000 24,052,000 31,518,000
<br />
<br />The table above depicts the total contribution that the approved projects will be
<br />providing to the City at the time a building permit is obtained. The City has collected
<br />10% of the TDR amount shown above for each project as per our code. The table
<br />also shows the expiration date for each development approvaL As of 9/30/07 the
<br />CIP fund had $26,161,000 per FY07/08 budget. All total amounts shown above have
<br />been rounded to the nearest thousand.
<br />
<br />The City Commission has given time extensions for two developments for the
<br />submittal of the TDR's funds. Those developments are Solis and Regalia which have
<br />acquired permits.. All other bonus contributions have been submitted for these two
<br />developments. Out of the total contribution for the TDR's shown above for these
<br />two developments, they still owe the City the following amounts:
<br />
<br />37
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