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4/12/2018 Item Coversheet <br /> SU"�Y'S`E City of Sunny Isles Beach <br /> 18070 Collins Avenue <br /> Sunny Isles Beach, Florida 33160 <br /> '1.\�- „, (305)947-0606 City Hall <br /> •or 5 0P (305)949-3113 Fax <br /> MEMORANDUM <br /> TO: The Honorable Mayor and City Commission <br /> VIA: Christopher J. Russo, City Manager <br /> FROM: Claudia C. Hasbun, Planning and Zoning Director <br /> DATE: 4/19/2018 <br /> Optional Transfer Development Rights for the Estates at <br /> RE: Acqualina <br /> 17901 Collins Avenue <br /> PZ2018-01 <br /> RECOMMENDATION: <br /> This Resolution is presented for your consideration. <br /> REASONS: <br /> Staff has no objection to the TDRs assignment provided that all <br /> conditions for the Site Plan are satisfied. <br /> The Applicant is requesting to approve the assignment and purchase <br /> of Transfer Development Rights (TDRs) in the amount of 47,399 <br /> square feet of development rights and 0 dwelling units with an <br /> adjustment from the City TDRs bank in the amount of 47,399 square <br /> feet and 23 dwelling units. The TDRs will be used for optional <br /> enclosure of balcony areas. <br /> The City shall consider the acceptance of the appraised land value of <br /> $125.00 per square feet.The assignment and payment for the optional <br /> TDRs will be on a case by case basis when enclosure of balconies are <br /> requested. <br /> ATTACHMENTS: <br /> Description <br /> Resolution <br /> Letter of Intent(FINAL). <br /> Transfer Development Rights Application <br /> Appraisal Executive Summary Report <br /> Item Number: 10.F. <br /> https://sunnyisles.novusagenda.com/AgendaWeb/CoverSheet.aspx?Item ID=2328 1/1 <br />