HomeMy WebLinkAboutReso 2021-3196RESOLUTION NO.2021 -
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, APPROVING THE PURCHASE AND
ASSIGNMENT OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRS")
IN THE AMOUNT OF 11,861 SQUARE FEET OF FLOOR AREA RATIO
("FAR") AND FIVE (5) DWELLING UNITS FROM A PRIVATE TDR
BANK ACCOUNT OF NDPRE #14, LLC ("ASSIGNOR") TO A3
DEVELOPMENT, LLC; APPROVING THE ASSIGNMENT OF
TRANSFERABLE DEVELOPMENT RIGHTS; AUTHORIZING THE
DEVELOPMENT SERVICES DIRECTOR TO WITHDRAW 11,861
SQUARE FEET OF FAR AND FIVE (5) DWELLING UNITS FROM THE
AFOREMENTIONED PRIVATE TDR BANK ACCOUNT AND
ASSIGNING SOLELY THE 11,861 SQUARE FEET OF FAR TO THE
PROPERTY LOCATED AT 17901 COLLINS AVENUE, SUNNY ISLES
BEACH, AND EXTINGUISHING THE FIVE (5) DWELLING UNITS;
AUTHORIZING THE ADJUSTMENT AND MODIFICATION OF THE
PRIVATE TDR BANK ACCOUNTS; PROVIDING THE CITY MANAGER
AND THE CITY ATTORNEY WITH THE AUTHORITY TO DO ALL
THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, by Zoning Resolution No. 41- Zlb , adopted on A. ] U(U2-1 , the City
Commission of the City of Sunny Isles Beach (the "City Commission") approved the Site Plan
Modification & Transfer of Development Rights ("TDRs") submitted by A3 Development, LLC
("Applicant") related to the property located at 17901 Collins Avenue, Sunny Isles Beach, Florida,
for intensity increases of the overall Floor Area Ratio (FAR) square footage from 1,179,384 square
feet of FAR to 1,191,245 square feet of FAR, an increase of 11,861 square feet of FAR, as well as
for the purchase and assignment of TDRs in the amount of 11,861 square feet of FAR; and
WHEREAS, the Applicant sought to purchase the above referenced TDRs directly from
the City of Sunny Isles Beach ("City"), however, pursuant to the Land Donation and Transfer of
Development Rights Agreement between the City and NDPRE #14, LLC ("Navarro"), approved
by Resolution 2018-2840, the City is required to sell Navarro's TDRs before the City sells any
other TDRs held in the public bank account controlled by the City; and
WHEREAS, the City Commission hereby agrees to approve the sale and assignment of
TDRs from the Private TDR Bank account of Navarro to the Applicant in the amount of 11,861
square feet of FAR and five (5) dwelling units; and
WHEREAS, solely the TDRs in the amount of 11,861 square feet of FAR are being utilized
and assigned to the project that is the subject of the Site Plan Modification application for the
development project located at 17901 Collins Avenue, Sunny Isles Beach, as the Applicant will
not assign the five (5) dwelling units, thus, those unassigned dwelling units will become
extinguished; and
WHEREAS, the Private TDR Bank account of Navarro will be adjusted to reflect the
withdrawal of 11,861 square feet of FAR and five (5) dwelling units to the Applicant and to reflect
R2021 Approve Private TDRs A3 Development and NDPRE Page 1 o0
the Tl]Ra nmoignn000t of solely the 11'881 square feet ofFAR for the property located at 17901
Collins Avenue, Sunny Isles Beach, and extinguishing the five (5) unassigned dwelling units; and
WHEREAS, the property receiving the 11,861 square feet ofFAR imdescribed on Exhibit
"A" attached hereto; and
WHEREAS, the City Commission agrees to authorize the sale and the assignment ofthe
TDRs conternplated herein as an incentive for development pursuant to its Charter and Home Rule
Authority.
NOW. THEREFORE, 0E0[RESOLVED 0Y THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS;
Section I . Incorporation of Recitals. The foregoing recitals are true and correct and are
incorporated herein by reference as if they are fully set forth herein.
Section 2. Authorizing the Sale and Assignment of TDRs frorn NDPRE #14, LLC to A3
Development, LLC. The City Commission hereby approves the sale and assignment ofTransfer
of Development Rights ("TDRs") in the amount of 11,861 square feet of FAR and five (5)dv/cl|ing
units from u Private T]JR Bank account designated for NDP8B #14, LLC to /\3 Dovc|opn0001,
LLC. The City Commission further approves the Assignment of Transferable Development Rights.
}\3 Development, [LCshall submit iothe City payment infull iothe amount ofOne Million Four
Hundred Eighty -Two Thousand Six Hundred Twenty -Five Do||um ($1,482,625.00) within three
(3)business day from the approval of this Resolution, if payment is not received, T[}Ka Sale and
Assignment isvoid and null.
Section 3. Authorizing the Withdrawal and Assignment of TDRs. The City Commission
hereby authorizes the Development Services Director to withdraw 11,861 square feet ofFAR and
five (5) dwelling units from the Private TDR Bank account designated for NDPRE # 14, LLC and
to assign 11,801 square feet ofFAR for the development project fhrdbcpropcdy|mcstcdo1l79O\
Collins Avenue, Sunny 1a|ea 0cooh, Florida approved under Zoning Resolution No.?��Z* 0h `
and extinguish the five (5)unassigned dwelling units.
Section 4. Directive to Development Services Director. The Development Services Di,00\nr
o,their designee iuhereby directed tnadjust the Private TD[lBank account designated for NDPKE
#l4` l.LCto reflect the vvi1hdrux'o| ofTDE(a in the amount of\|,D6l square feet ofFAR and five
(5) dwelling units according to Zoning Resolution No. V ' I ' ( W . Pursuant to the Laud
Donation and Transfer ofDevelopment Rights Agreement between the City und74DPl<E#l4,L.LC`
the City will sell ND9K8#|4 L.l.C^aTDKo o1$l25 per square foot and shall pay 1oNDPIlB#\4
the arnount of proceeds from Such sale within thirty (30) days of the closing.
Section 5. Authority of the City Manager and City Attorney. The City Manager and City
Attorney are hereby authorized todoall things necessary ioeffectuate this Resolution.
Section 6. Repealer. All Resolutions orparts of Resolutions in conflict herewith shall be and
are hereby repealed.
Section 7. Effective Date. This Resolution shall become effective upon adoption.
nzo |xppr*mpovamnxu xsDevelopment and wopns Page z^o
PASSED AND ADOPTED this 20' day 9f May 2021.
Georu6 H. Scholl, Mayor
ATTES,", APPROVZAS TO FORM
AND LIE FICIENCY-
MaAciWlie cur, CMC, City Clerk VTdward A. Dion, City Attorney
Moved by: ICE Secondedby:
Vote:
Mayor Scholl. (Yes) — (No)
Vice Mayor Svechin (Yes) — (No)
Commissioner Goldman v7- (Yes) (No)
Commissioner Lama W,7- (Yes) (No)
Commissioner Viscarra --/(Yes) (No)
IZ2021 Approve Private TDRs A3 EX-velopment and NDPRE Page 3 of
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TO:
VIA:
FROM:
DATE:
RE:
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947-0606 City Hall
(305) 949-3113 Fax
MEMORANDUM
Honorable Mayor and City Commissioners
Christopher J. Russo, City Manager
Claudia C. Hasbun, AICP, Development Services Director
May 20, 2021
Approval of Private Transfer of Development Rights Between NDPRE
#14 and A3 Development
RECOMMENDATION:
Staff is recommending approval of this Resolution.
REASONS:
A3 Development is requesting an intensity increase of the overall Floor Area Ratio (FAR) from
1,179,384 square feet of FAR to 1,191,245 square feet of FAR through the City's Transfer
Development Rights (TDRs) program. Pursuant to Resolution No. 2018-2840, the TDRs will
be sold from the NDPRE #14, LLC ("Navarro") Private TDR account. The Applicant is
requesting the purchase 11,861 square feet of FAR and five (5) dwelling units. However, the
Applicant is seeking to solely assign 11,861 square feet of FAR and zero (0) dwellings units to
the project. Therefore, the five (5) unused dwelling units will be extinguished.
The TDRs pricing is set to $125.00 per square feet, yielding to a total of $1,482.625.00. This
amount shall be paid in full by the Applicant within three (3) business day from the approval.
The proceeds will be applied to the Navarro purchase agreement according to Resolution No.
2018-2840.
ATTACHMENTS:
Resolution
Item Number: 10.G
Prepared by:
Adam M. Zwecker, Esq.
Akerman LLP
98 SE 7th Street, 1 lth Floor
Miami, Florida 33131
ASSIGNMENT OF TRANSFERABLE DEVELOPMENT RIGHTS
THIS ASSIGNMENT OF TRANSFERABLE DEVELOPMENT RIGHTS (this "Assignment") is
made and entered into as of May K 2021 by and among NDPRE #14, LLC, a Florida limited liability
company ("Navarro"), THE CITY OF SUNNY ISLES BEACH, a Florida municipal corporation
("City", and collectively with Navarro, "Assignor") and A3 DEVELOPMENT, LLC, a Delaware limited
liability company and/or its successors or assigns ("Assignee").
WHEREAS, pursuant to Resolution No. 2018.2840, the City has provided to Navarro certain
transferable developments rights ("TDRs") in the City of Sunny Isles Beach, Florida, in the amount of
126,615 square feet of floor area and 56 dwelling units ("Navarro TDRs");
WHEREAS, in connection with a requested site plan modification under application PZ2021-04
pertaining to a property commonly known as the "Estates at Acqualina" located in the City of Sunny Isles
Beach, Florida ("Project"), and pursuant to Section 265-23 of the City of Sunny Isles Beach Land
Development Regulations, Assignee has requested to purchase additional TDRs in the amount of 11,861
square feet of floor area and 5 dwelling units ("Required TDRs"); and
WHEREAS, Assignor has proposed to convey, transfer and assign unto Assignee all of Assignor's
right, title and interest (as grantee) in and to that certain portion of the Navarro TDRs sufficient to satisfy
the Required TDRs (the "Assigned Navarro TDRs").
NOW, THEREFORE, in consideration of the payment by Assignee to Assignor of the sum of Ten
Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:
1. Recitals. The above recitals aretrue and correct and arehereby incorporated by reference herein.
2. Assignment: Price. Each Assignor hereby irrevocably conveys, transfers and assigns unto
Assignee all of such Assignor's right, title and interest in and to the Assigned Navarro TDRs together with
all the rights and benefits conferred in connection therewith to have and to hold the same unto Assignee,
its heirs, legal representatives, successors, administrators and assigns forever for the purchase price of
$125.00 per square foot (or $1,482,625.00 in total) to be paid by Assignee to the City within three (3)
business days after the City Commission approves this Assignment.
3. Further Assurances; Deliverables.
The parties hereto agree to execute and deliver such other documents as are required by
the City, to effectuate the transfer of the Assigned Navarro TDRs to Assignee as contemplated by this
Assignment.
4. Assignor Representations, Warranties and Covenants. Assignor hereby represents, warrants
58183591;3
and covenants with and to Assignee as follows:
(a) Each Assignor has the full power and authority to enter into this Agreement and assign its
rights to the Assigned Navarro TDRs to Assignee, as contemplated hereby, without the need to obtain any
consent or approval of any third party;
�-A551q1vai2 Aio
(b) The City shall, at its own cost and expense, defend and hold Assignee harmless from and
against any lawsuits or appeals or any other legal or quasi -legal challenges to the validity of this
Assignment and/or the conveyance by Assignor of the Assigned Navarro TDRs to Assignee pursuant
hereto;
(c) the Assigned Navarro TDRs conveyed and transferred to Assignee pursuant hereto are free
and clear of any liens or encumbrances and no other party shall otherwise have an interest in the same but
for Assignee upon such conveyance;
(d) if any third party challenges or otherwise interferes with the conveyance by Assignor to
Assignee of the Assigned Navarro TDRs in accordance with this Assignment, then (x) Project shall not be
treated by the City as nonconforming in terms of FAR compliance by virtue of any such failure or
challenge, (y) the same will not affect or delay the issuance of TCO/CO for the Project and (z) the City
will promptly convey to Assignee replacement (e.g., substitute) TDRs owned by the City in an amount
equal to the Assigned Navarro TDRs at no additional cost or expense to Assignee;
(e) the Assigned Navarro TDRs are hereby conveyed and transferred to Assignee free and clear
of any special conditions, interests, restrictions or obligations of the City or Navarro as may otherwise be
applicable to such parties pursuant to Resolution No. 2018-2840; and
(f) to the best of Assignor's knowledge and belief, this Assignment does not violate any rule,
law, ordinance, order, agreement or judgment applicable to Assignor and/or the Assigned Navarro TDRs
and such Assigned Navarro TDRs have not expired and, are in good standing, and are sufficient to allow
for approval of the proposed site plan modification requested by Assignee.
5. Effective Date. This Assignment is effective upon execution by all parties and approval by
the City Commission.
6. Miscellaneous. This Assignment is governed by the laws of the State of Florida. This
Assignment may be executed in any number of counterparts (whether facsimile or original), each of which
shall be deemed to be an original instrument, but all such counterparts together shall constitute one and the
same instrument. This Assignment may not be amended other than in connection with a written agreement
executed by Assignor and Assignee. This Assignment shall be binding upon and inure to the benefit of
Assignee and Assignor and their respective successors and assigns.
7. WAIVER OF TRIAL BY JURY. EACH PARTY HEREBY WAIVES, TO THE FULLEST
EXTENT PERM['TTED BY LAW, THE RIGHT TO "TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM, WHETHER IN CONTRACT, TORT OR OTHERWISE,
RELATING DIRECTLY OR INDIRECTLY TO THIS ASSIGNMENT OR ANY ACTS OR OMISSIONS
OF EITHER PARTY OR ANY OF ITS RESPECTIVE OFFICERS, EMPLOYEES, DIRECTORS OR
AGENTS IN CONNECTION HEREWITH.
INWITNESS WHEREOF,theundersigned parties haveeausedthisAssignmentto be executed as of
the date first written above.
58IR3591;3
Print Name: etkoW\ p4sv_ld`'
Print Name:
Print Name:
58183591;3
CITY:
THE CITY OF SUNNY ISLES BEACH,
a Florida Minn 1pal corporation
Name:
Title:
ASSIGNEE:
A3 DEVELOPMENT, LLC,
a Delaware limited liability company
L110
Name:
Title:
NAVARRO:
1 14, LLC, a Florida limited liability company
By:-
�jg V'1`0 Name: NA 4\JA,%7x CL 0
Title: MA k-1 A C-V""L.
'04
19
Print Name: 7 ve vic. 4
Print Name:
Print Name:
58183.591,3
THE CITY OF SUNNY ISLES BEACH,
a Florida municipal corporation
By:
Name:
Title:
A3 DEVELOPMENT, I-I-C,
a Delaware limited liability company
By:
Name: C9r,617 S,4r-.I;qe- k
Title: 'SI/t, a C—'X-"q
NDPRE 414, LI-C, a Florida limited liability company
B Y.'
Name:
Title: