2008 0221 Regular City Commission Meeting

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Summary Minutes: Regular City Commission Meeting February 21, 2008 City of Sunny Isles Beach, Florida revenue stream in the future and the City Manager has his own budgetary issues to contend with, and so he thinks after we hashed it out internally, they came to the conclusion that this would meet some tipping point, the tipping point meaning that at some level a developer is going to partake in this program voluntarily and at some level they are not. He said he thinks the current structure is clearly significantly better than it was on the first round, and that staff worked diligently to get it there, so he is in favor of it the way it is structured today and he believes that the certainty of being able to buy four years is very material to the economic conditions that we are facing today. Commissioner Goodman said that they also brought up the fact that if they are going to buy the four years, the first two years are fine with the interest rate, but then the second two years they are complaining about the cost being too much so there are no negotiations. Mayor Edelcup said that they don't have to go the four years, and Commissioner Goodman said yes but you are offering them the four years, if you are giving them the two years, then we could negotiate back. Mayor Edelcup said that is less important to the development community, they need more certainty, you can't predict when this market is going to turn around, it may take way beyond two years and he would rather help the development community right now, and keep their projects alive, then to have to come back before an entirely different Commission and plead their case, and take whatever comes from that Commission meeting, which is less certain for them and more likely for them to decide that it is not worth that risk. He said that he thinks there is a balance and we are achieving that balance. Commissioner Goodman said that he thinks that they are still talking about the money aspect of it, and Mayor Edelcup said that he thinks the money is less important than the time, he heard the same thing and he interprets it differently. Commissioner Scholl said today we are all sitting here rationally approaching this and saying okay, we want to do something that we believe is reasonably developer friendly in terms of policy, and the fact is that in two years some of us could be voted out of office and not be developer friendly and that is the issue of uncertainty. City Attorney Ottinot noted that the Ordinance does not have the program, just the legal authority, and so the policy requires a resolution [Item 10E]. Commissioner Scholl moved and Commissioner Brezin seconded a motion to approve the proposed ordinance on first reading. The motion was approved by a roll call vote of3-1- 1 (Commissioner Goodman against, Vice Mayor Thaler absent) in favor. Second reading, public hearing will be held on Thursday, March 20, 2008, at 7:30 p.m. Vote: Commissioner Brezin yes Commissioner Goodman no Commissioner Scholl yes Vice Mayor Thaler absent Mayor Edelcup yes 7C. An Ordinance of the City Commission of the City of Sunny Isles Beach, Florida, Amending Section 265-23(G)(2) of the City Code Relating to the Transfer of Development Rights ("TDRs") for Private Parties; Providing for Clarification of Expiration of Private TDRs; Providing for Severability; Providing for Repealer; Providing for Inclusion in the Code; Providing for an Effective Date. 8