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<br />Summary Minutes: Regular City Commission Meeting March 19,2009 <br /> <br />City of Sunny Isles Beach, Florida <br /> <br />Action: Mayor Edelcup gave opening remarks on zoning procedures/decorum and City <br />Clerk Hines read a disclaimer for the Zoning hearing, and administered the oath to the <br />witnesses for the Zoning hearing. Community Development Director Robert Solera reported. <br /> <br />Public Speakers: none <br /> <br />Commissioner Scholl moved and Vice Mayor Thaler seconded a motion for approval, <br />subject to staff conditions, and to the additional conditions. Resolution No. 09-Z-118 <br />was adopted by a roll call vote of 5-0 in favor. <br />Vote: Commissioner Brezin yes <br />Commissioner Goodman yes <br />Commissioner Scholl ~ <br />Vice Mayor Thaler ~ <br />Mayor Edelcup yes <br /> <br />7. ORDINANCES FOR FIRST READING <br /> <br />7 A. An Ordinance of the City Commission of the City of Sunny Isles Beach, Florida, Relating to <br />Transfer of Development Rights; Amending Section 265-230 (1) (A) (2) to Extend the <br />Time Period for the Utilization of Development Rights that are Privately Owned; <br />Providing for Repealer; Providing for Severability; Providing for Inclusion in the Code; <br />Providing for an Effective Date. <br />(Hear in Conjunction with Item lOG) <br /> <br />Action: [City Clerk's Note: This item was heard in conjunction with Item lOG. See Action <br />under Item 4A.] City Clerk Hines read the title, and City Attorney Ottinot reported, noting that <br />this Ordinance will permit a greater life span for Development Rights that are privately <br />owned, it will allow at least ten (10) years in addition to the five (5) years. <br /> <br />Public Speakers: none <br /> <br />Mayor Edelcup reported that this is a two-part transaction, first it is the ability to extend the <br />life ofTDRs beyond five (5) years, and the second part is the determination of what annual <br />fee should the City have in charging for this additional ten (10) years. Under the formula that <br />he has proposed is to treat TDRs similar to property value and we have to make assumptions <br />because TDRs are yet to be put on any particular piece of property. For valuation purposes he <br />suggested a valuation of$30 per square foot for a TDR which is commensurate with the value <br />of property on the west side of Collins Avenue in today's market. The formula would be <br />derived using that valuation per square foot times the number of square feet ofTDRs owned <br />by a person and then multiply that number times the millage rate that the City applies to <br />regular real estate property which today is our millage rate of2.48 mills. Under this ordinance <br />we would have a right to look at that $30 valuation each year to determine whether or not it is <br />still appropriate based on comparable properties in this City, and also to use the millage rate <br />for each year that is in effect for all of the property within the City. <br /> <br />Vice Mayor Thaler asked for clarification on the amount of time extended, and Mayor <br />Edelcup responded we are extending it another ten years, so they will have up to fifteen (15) <br />years. He said for the first five (5) years you don't pay anything, and those five (5) years are <br /> <br />4 <br />