Reso 2009-1480 - Laserfiche WebLink

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SJNNY /S4 City of Sunny Isles Beach ,° �< 18070 Collins Avenue ° Sunny Isles Beach, Florida 33160 (305) 947 -0606 City Hall (305) 792 -1565 Fax (305) 947 -2150 Building Department C/TY OF SUN PLO MEMORANDUM To: Honorable Mayor and City Commission Via: Rick Conner, City Manager From: Jorge L. Vera, Assistant City Manager/ Service Division Date: September 17, 2009 Re: City of Sunny isles Beach Transfer of Development Bank Account City Commission Norman S. Edelcup, Mayor Lewis J. Thaler„ Vice Mayor Roslyn Brezin Commissioner Gerry Goodman Commissioner George "Bud" Scholl, Commissioner Rick Conner, City Manager Hans Ottinot, City Attorney Jane A. Hines, City Clerk The City has created more open space, parks and recreational facilities that have been facilitated by the implementation of the Transfer of Development Rights (TDR) ordinance. The City Commission wishes to confirm the amount of development rights that is currently owned by the City and private owners. The attachment to this resolution delineates the amount of development rights that are in each transfer development right accounts. There are two types of TDR accounts. One account is for development rights that the City owns. The other is for development rights that a private property owner may have acquired. Page one of the attachment outlines the development rights that the City has acquired during the years. There are 1,827,304 square feet and 937 units from all the properties that the City has acquired. Of that amount the City has sold 742,122 square feet and 419 units to developments that received approval at City Commission. This leaves a current balance on the City TDR of 1,085,182 square feet and 518 units. Page two of the attachment shows the funds collected by the City from the different developments for the purchase of the development rights. Currently the City has collected $35,112,501 from the sale of development rights. There is another $2 million dollars that the City expects to collect in the near future. Making the total amount for funds collected of approximately 37 million dollars. Also on page two there is an outline several developments that received development approval by the City Commission but never obtain their building permit within the required time. These development orders are void and the developer needs to go thru the site plan review process again. At the time of their approval each development requested to purchase from the City a certain amount of development rights. There was a total of 127,805 square feet and 70 units of development rights that were to be purchased by the developers. Since these development rights were never purchased to be used they were credited back to the City TDR bank account. Since there was no purchase the City was unable collect $13,067,233 for those development rights. Agenda Item x Date '�- IT