HomeMy WebLinkAboutReso 2020-3141RESOLUTION NO.2020 - 3t ` t
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, CONFIRMING THE BALANCE OF
TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") CURRENTLY HELD
IN THE TDR BANK ACCOUNTS BY THE CITY OF SUNNY ISLES
BEACH AND PRIVATE OWNERS, ATTACHED HERETO AS EXHIBIT
"A"; REQUIRING YEARLY UPDATES FOR TDRs BANK ACCOUNTS;
PROVIDING THE CITY MANAGER WITH THE AUTHORITY TO DO
ALL THINGS TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, the TDR Ordinance has played an instrumental role in making the City
greener by facilitating the creation of open space throughout the City; and
WHEREAS, the City Commission wishes to confirm the amount of TDRs currently
owned by the City of Sunny Isles Beach and private owners.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Development Rights Account Balance. The City Commission hereby confirms
the balance of Transfer of Development Rights owned by the City and private owners attached as
Exhibit "A".
Section 2. Authority of the City Manager. The City Commission hereby directs the City
Manager or designee to provide yearly updates of TDR Bank account balances and to do all things
to effectuate this Resolution.
Section 3. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 19th day No tuber 2020.
ATT
, CMC, City Clerk
George H. Scholl, Mayor
R2020 TDR Reso Annual Update Pagel of 2
APPROVED AS TO FORM
AND LEGA UFFICIENCY
Edward A. Dion, City Attorney
Moved by: VY c sto1Jcc-- Obtzmw Seconded by:
Vote:
Mayor Scholl
Vice Mayor Svechin
Commissioner Lama
Commissioner Goldman
Commissioner Viscarra
Gme"(Wrg- i+
J (Yes)
(No)
(Yes)
(No)
i(Yes)
(Yes)
(No)
(No)
(yes)
(No)
R2020 TDR Reso Annual Update Page 2 of 2
µNY /s,��
City of Sunny Isles Beach
n
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
'9 oP�a
(305) 947-0606 City Hall
F� FLQ% gas
(305)949-3113 Fax
MEMORANDUM
TO:
The Honorable Mayor and City Commission
VIA:
Christopher J. Russo, City Manager
FROM:
Claudia C. Hasbun, Planning and Zoning Director
DATE:
11 /19/2020
RE:
Annual Transfer of Development Rights Report
RECOMMENDATION:
This Resolution is recommended for approval.
REASONS:
The City Commission wishes to confirm the amount of development
rights that are currently owned by the City and private owners under
our Transferable Development Rights (TDR) program. The documents
attached to the Resolution delineate the amount of development rights
that are in each TDR account.
Page one of the attachment outlines the development rights that the
City has acquired during the years. The City has acquired 2,370,282
square feet of floor area and 1,187 dwelling units from all the
properties. This account has no changes from last Fiscal Year.
Page two shows the amount of TDRs the City has transferred to
private parties. The total amount of TDRs transferred is 1,844,444
square feet of FAR and 912 dwelling units. There is a current balance
in the City's TDRs account of 525,838 square feet and 275 units as of
the date of this memorandum. The reduction from the City's TDR bank
account is relating to two TDRs transactions, first, the sale of 229
square feet to the Mansions at Acqualina pursuant to Resolution No.
2019-2953 and, secondly, the sale of 789 square feet to the Mansion
atAcqualina pursuant to Resolution No. 2019-2954.
Page three of the attachment shows the funds collected by the City
from the sale of TDRs for development projects. Over the years, the
City has collected $64,929,964.75 from the sale of TDRs. There is
another $30,391,824.50 that the City expects to collect in the near
future from approved projects. This past Fiscal Year, TDRs payment
were received from the Mansions at Aqualina balcony enclosure
projects.
Finally, page four delineates the accounts that show the amount of
development rights privately owned. The accounts total 236,063
square feet of floor area and 107 dwelling units. There has been no
modification to the private TDRs account since last report.
ADDITIONAL INFORMATION:
ATTACHMENTS:
Description
Resolution
Re ort
Item Number: 10.J.
EXHIBIT "A"
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHT - BANK ACCOUNT
DEVELOPMENT RIGHTS FROM CITY OWNED PROPERTIES
PROPERTIES
Sq. Ft.
Units
1.
Golden Shores Park
11,512
2
2.
Pelican Community Park
166,240
100
3.
Gwen Margolis Park
248,292
143
4.
Gilbert Samson Oceanfront Park
162,914
94
5.
Porto Bellagio
131,611
72
6.
Heritage Park
533,200
283
7.
Bella Vista Park
54,232
21
8.
Collins Ave. Parkway
11,568
6
9.
287 SlBlvd
53,905
11
10.
151 SIBlvd (RK)
223,879
95
11.
16200 Collins Ave. (Plaza Isles)
89,951
50
12.
16100 Collins Ave. (Koslosky)
86,095
47
13.
jSlBIvd Parking (Milton)
53,905
12
14.
Steiger Property - 16050 Collins
74,530
41
15.
Marks, et al 215-255 SIB
223,879
95
16.
TRG Sunny Isles (16000 Collins Ave)
77,250
38
17.
Dezer Sales Center (15800 Collins Ave)
80,000
38
18.
Corner House
62,685
30
19.
Turnberry Sales Center
24,634
9
Total TDRs from City Owned Properties since
Adoption of TDR Ordinance
2,370,282
1,187
Last update on November 2020 Page 1 of 4
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHT - BANK ACCOUNT
Total TDRs from City Owned Properties since Adoption of TDR Ordinance
Sq. Ft.
Units
1,187
2,370,282
Development Ig s used or I rainsterrecl 16
Private Development From City TDR Bank
Used Sq. Ft.
Used Units
1.
Fortune Beach
124,991
72
2.
S&G Miami Beach
31,266
18
3.
Mandalay LLC
36,477
21
4.
St. Tropez
112,905
65
5.
Trg Sunny Isles
177,262
103
,
7.
Regalia
54,385
31
8.
St. Tropez II
32,759
17
9.
TRG Desert Inn Venture
9,757
5
10.
R.K. Associates (Donation)*
58,500
30
11. IPlaza
Isles (Donation)*
40,000
20
12.
Urbis & Key Int.
1,869
1
13.
Milton St. Tropez (Donation)*
29,403
12
14.
n..zeic Deye1.,... eRt LLC C (DenatieR)*
0
0
15.
Gi co Realty/Porsche Donation
81,000
42
16.
12-555 C�-110AS, Dev., 666 ***
0
0
17.
jLPLA Partners, LP
25,000
9
18.
Gold Club, Inc. (Donation)
20,000
10
19
Towne Center Development St. Tropez
94,680
45
21
Temple B'Nai Zion, Inc.
15,000
5
22
Beach Acquisition, LLC (*****)
113,199
46
23
GSF Acquisitions. LLC (Palazzo)
15,797
7
24
Ritz Carlton
49,098
23
25
Marriott (******)
9,671
6
26
Armani Casa
133,750
63
27
Varadero
283,485
120
28
18590 Collins Ave Acquisition
75,000
35
29
Ruslan Krivoruchko
361
0
30
Alexey Knyshov
229
0
31
Estates at Acqualina
27,147
13
32
NDPRE # 14 LLC (Navarro)
126,615
56
33
Ian Greenberg
229
0
34
IDennis & Randi Riese
789
0
City's TDR Bank Account Total:
2,370,282
1,187
Subtract Subtotal:
11,844,444
912
TDR BALANCE TOTAL:
1525,838
275
`Property was acquire back to City - Alamo property
**Donation provided an exchange for real property donated to the City.
*** TDRs were not used and transaction was cancelled.
**** TDRs were transferred to a private sub -account.
***** TDRs credit from Temple B'Nai Zion transaction (15,000 sq ft and 5 units).
****** TDRs were reduced - approved under R2016-2536 (4,095 sq ft and 2 units).
Page 2 of 4
Last update November 2020
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT
ACCOUNTS
TOR FUNDS COLLECTED
TOR FUNDS UNCOLLECTED
1.
Fortune Beach
$7,558,863.00
$0.00
2.
S&G Miami Beach
$160,920.00
$0.00
3.
Mandalay LLC
$1,324,066.00
$0.00
4.
St. Tropez
$2,184,711.00
$0.00
5.
Trg Sunny Isles
$13,287,559.00
$0.00
6.
Mansiana/Solis
$5,408,502.00 ****
$0.00
7.
Da Vinci
$395,917.00 *
$0.00
8.
Regalia
$4,119,249.25 *****
$0.00
9. 10cean
Palm
$374,926.00 *
$0.00
10.
Urbis & Key Int.
$72,866.00
$0.00
11.
Sunny Isles Resort
$681,016.00 *
$0.00
12.
TRG Desert Inn Venture
$1,282,655.00
$0.00
13.
St. Tropez II
$116,261.00 **
$0.00
14.
LPLA Partner, LLP
$1,625,000.00
$0.00
15.
1 oc51c r 11iR - Dey "
$0.00 ******
$0.00
16.
Fort Apache
$517,275.00 ***
$0.00
17.
Abus, LLC (Mr. Grosskopf)
$46,270.00 ***
$0.00
18.
Abus, LLC (Mr. Grosskopf)
$1,484,940.00 ***
$0.00
19.
Town Center Development (St. Tropez)
$1,893,870.00 ***
$0.00
20.
113each Acquisitions, LLC (Turnberry)
$11,070,625.00
$0.00
21.
GSF Acquisitions. LLC (Palazzo)
$697,463.00 +
$1,277,162.00
22.
Ritz Carlton
$6,127,250.00
$0.00
23.
Marriott
$415,853.00
$0.00
24.
Varadero
$3,543,560.00
$26,060,625.00
25.
lBalcony enclosures (Mansions)
$73,750.00
$0.00
26
A3 Development, LLC (Estates)
$339,337.50 +
$3,054,037.50
27
Balcony enclosures (Mansions)
$28,625.00
$0.00
28
Balcony enclosures (Mansions)
$98,635.00
$0.00
TOTALS: Collected Funds
1 $64,929,964.75
Uncollected
Funds
$30,391,824.50
* These developments paid 10% of non-refundable deposit, but development orders expired. TDR's were returned to the City.
** This development received a credit of $841,580.00 from the City, as part of a real estate transaction.
*** Transfer fees collected by the City to release West side only condition.
**** The purchase price of $5,156,017.00 was increased by an additional $252,485.00 of interest payments.
***** The purchase price of $4,500,206.00 was decreased by $380,957.00 due to settlement of outstanding loan agreement.
****** TDRs were reverted to City TDR bank - TDRs were not used by developer.
+ Deposit of $500,000 was added to the Estates at Acqualina project - uncollected amounts subject to promisory repayment agreement
Uncollected Funds Owed to the City for TDRs
Transactions
Sq. Ft.
Units
TDR Funds Uncollected
1.
GSF Acquisitions. LLC (Estates)
15,797
7
$1,277,162.00
2.
Varadero
283,485
120
$26,060,625.00
3.
A3 Development, LLC (Estates)
27,147
13
$3,054,037.50
326,429
140
$30,391,824.50
Total Credit to TDR Bank
JTotal Uncollected Funds
Total TDRs Funds Collected1$30,391,824.50
$64,929,964.75
TDR Funds Uncollected
Total TDRs Funds (collected and uncollected) 1$95,321,789.25 )
Last update on November 2020 Page 3 of 4
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