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HomeMy WebLinkAboutReso 2021-3241RESOLUTION NO. 2021 - .�>ZZH 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 114,471 SQUARE FEET OF FLOOR AREA RATIO (FAR) AND FIFTY ONE (51) DWELLING UNITS FROM A PRIVATE TDR BANK ACCOUNT OF NDPRE #14, LLC ("ASSIGNOR") TO 18401 DEVELOPERS, LLC; APPROVING ASSIGNMENT AND HOLD HARMLESS AGREEMENT; 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. 7`2'(4; adopted on September 141h, 2021 the City Commission of the City of Sunny Isles Beach (the "City Commission") approved the Site Plan & Transfer of Development Rights ("TDRs") submitted by 18401 Developers, LLC ("Applicant") related to the property located at 18401 Collins Avenue, Sunny Isles Beach, Florida, for the purchase and assignment of TDRs in the amount of One Hundred and Fourteen Thousand Four Hundred Seventy One (114,471) square feet of FAR and Fifty One (51) dwelling units; 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 One Hundred and Fourteen Thousand Four Hundred Seventy -One (114,471) square feet of FAR and Fifty -One (51) dwelling units; and WHEREAS, solely the TDRs in the amount of 114,471 square feet of FAR and 28 dwelling units are being utilized and assigned to the project that is the subject of the Site Plan Approval application for the development project located at 18401 Collins Avenue, Sunny Isles Beach, as the Applicant will not assign the Twenty -Three (23) dwelling units; thus, those unassigned dwelling units will become extinguished; and WHEREAS, the property receiving the 114,471 square feet of FAR and Twenty -Eight (28) dwelling units is described on Exhibit "A" attached hereto; and WHEREAS, pursuant to Section 265-23(F)(2)(a) of the City Land Development Regulations, and the terms of the Assignment of Transferable Development Rights between the City, Navarro, and the Applicant, the City Commission agrees to authorize the sale and the assignment of the TDRs contemplated therein as an incentive for development pursuant to its Charter and Home Rule Authority, and authorizes the Development Services Director to do all things necessary effectuate this Resolution. R2021 Private TDRs NDPRE to Bentley Revised Page 1 of 3 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, ASFOLLOWS: Section 1. 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 from Navarro to Applicant. The City Commission hereby approves the S8|e and assignment of Transfer Of D8v8|OpnO8nt Rights (°TDRs") in the amount V[I14,471 square feet of FAR and fifty-one (51) dwelling units from 8 PriVateTDR Bank account designated for Navarro to Applicant, at the rate of$22G per square foot. The City Commission further approves the Assignment of Transferable Development Rights Agreement, attached to this Resolution as Attachment "A", and incorporated herein byreference. Applicant shall submit t0the City payment in accordance with said Assignment ofTransferable Development Rights Agreement. Section 3. Authorizing the Withdrawal and Assignment of TDRs. The City Commission hereby authorizes the Development Services Director to withdraw 114,471 square feet of FAR and fifty- one (51) dwelling units from the Private TDR Bank account designated for Navarro and to assign 114,47Isquare feet O[FAR and Twenty -Eight /Z8\dwelling units for the development project for the property located atlO4OICollins Avenue, Sunny Isles Beach, Florida approved under Zoning Resolution NO.��7-* 0�� and extinguish Twenty -Three (2]) UD8SsiDDed dwelling'units, at the times and manner set forth iOthe Assignment OfTransferable Development Rights Agreement, attached hereto 8sAttachment "A". Section 4. Authority of the City Manager and City Attorney. The City Manager and City Attorney are hereby authorized to do all things necessary to effectuate this Resolution. Section 5. Repealer. All Resolutions orparts OFResolutions iD conflict herewith shall beand are hereby repealed. Section 6. Effective Date. This Resolution shall become effective upon adoption. 12 APPROVED AS TO FORM AND LEGAL SUFFICIENCY: *1 � ) 03�-� Ma4iO Betan�ur, CIVIC, City Clerk Edward A. Dion, City Attorney R2021 Private TDRs NDPRE to Bentley Revised Page 2 of 3 Moved by: Seconded by: Lowa Vote; J M8\mrSveChin _�_(YeS) Commissioner Goldman (Y\eS) Commissioner Lama V (Y8S) Co0misSiOn8[Viacarn3 %, (Yes) R2021 Private TDRs NDPRE to Bentley Revised Page 3 of 3 t City of Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, Florida 33160 (305) 947-0606 City Hall (305) 949-3113 Fax MEMORANDUM TO: Honorable Mayor and City Commissioners VIA: Christopher J. Russo, City Manager FROM: Claudia C. Hasbun, Development Services Director DATE: September 14, 2021 RE: Request to Purchase and Assignment of Transfer Development Rights frorr NDPRE# 14, LLC ("Navarro") Private Bank for the Bentley Residences RECOMMENDATION: Staff recommends approval of this Resolution. REASONS: According to Site Plan Approval and Transfer Development Rights Applications (PZ2021-06), th Applicant is requesting to approve the purchase and assignment of Transfer Development Right! (TDRs) in the amount of 114,471 square feet of Floor Area Ratio (FAR) of development rights and r dwelling units from the NDPRE # 14, LLC ("Navarro") Private Bank with an adjustment from th Navarro Private TDRs bank in the amount of 114,471 square feet of FAR and 51 dwelling units Pursuant to Resolution 2018-2840, the City approved a Land Donation and Transfer of Developmeni Rights Agreement between the City and Navarro ("Navarro Agreement"), which requires the City b sell the private TDRs held in favor of Navarro before the City can sell any TDRs held in the City's publi TDR account. This TDR transaction will utilize the sale of TDRs from the Navarro Private TDR bank account in th amount of 114,471 square feet of FAR and 51 dwelling units, of which only Twenty Eight (28) dwellin@ units will be assigned to the development project, and the remaining Twenty -Three (23) unassigned dwelling units will be extinguished. This private TDR account shall be closed after assignment is approved and completed. Item Number: 10.0 ADDITIONAL INFORMATION: The TDR Appraisal Report is attached to item 10M, and is the same for item. Resolutions Application for PrivateTDRs Assignment& Hold Harmless Agreement Item Number: 1O.0 TDR 2011 CH F,nIV D ceived DateIs ued A � � 2 2021 Resolu 'on PLANNING & ZONING DEPT. City of Sunny Isles Beach, FL SUNNY /S�F,r y t, yF 99)* FLOC\O S P C'Ty OF SUN PNO APPLICATION FORM TRANSFER OF DEVELOPMENT RIGHTS PROGRAM CERTIFICATE Clerk of Court Use Only I. APPLICANT INFORMATION NAME 18401 Developers LLC, a Florida limited liability company PHONE (305) 932-1000 E-MAIL agallagher@dezer.com er@dezer.com FAX (305) 936-9908 ADDRESS c/o Dezer Development, 18001 Collins Avenue, 31st Floor; Attn: Arthur Gallagher CITY AND STATE Sunny Isles Beach, Florida ZIP CODE 33160 II. RECEIVER SITE INFORMATION AS APPLICABLE OWNERS NAME 18401 Developers LLC, as contract purchaser of the Property PHONE -MAIL agalla erQdezer.com FAX (305) 936-9908 ADDRESS. c/o Dezer Development, 18001 Collins Avenue, 31" Floor; Attn: Arthur Gallagher CITY AND STATE Sunny Isles Beach, Florida ZIP CODE 33160 PROPERTY ADDRESS/LOCATION 18401 Collins Avenue, Sunny Isles Beach, Florida, 33160 LEGAL DESCRIPTION See Attached Exhibit 1 City of Sunny Isles Beach 1 Planning and Zoning Department TDR 2011 CH FOLIO NUMBER 31-2202-003-0210 CURRENT ZONING MUR Mixed Use Resort PROPERTY SIZE 2.366 acres (103.041 sf)* PURCHASE DATE August 1, 1996 EXISTING USE OF PROPERTY Thunderbird Hotel EXISTING STRUCTURE ON PROPERTY 110,069 sf hotel building PROPOSED FLOOR AREA RATIO 4.60 FAR (Base+BonusesIDENSITY 188 Units (excl. TDRsh PERCENTAGE OF RIGHTS TO BE RECEIVED 89.3% SQUARE FOOTAGE OF FLOOR AREA TO BE RECEIVED 127,035.58 DWELLING UNITS TO BE RECEIVED 63 units TOTAL FLOOR AREA RATIO INCLUDING TDR 5.98 FAR TOTAL DWELLING UNITS INCLUDING TDR 216 Units * Note: Total site is 2.963 acres; however, 2:366 acres (103,041 A) are being used for the project and will be the portion of the property receiving the TDRs. III. SENDING SITE INFORMATION OWNERS NAME City of S11M Isles Beach PHONE E-MAIL FAX ADDRESS CITY AND STATE ZIP CODE PROPERTY ADDRESS/LOCATION N/A LEGAL DESCRIPTION N/A FOLIO NUMBER N/A CURRENT ZONING N/A PROPERTY SIZE N/A PURCHASE DATE N/A EXISTING USE OF PROPERTY N/A EXISTING STRUCTURES ON PROPERTY N/A BASE FLOOR AREA RATIO PERMITTED N/A UNITS PERMITTED N/A City of Sunny Isles Beach 2Planning and Zoning Department TDR 2011 CH SQUARE FOOTAGE OF FLOOR AREA TRANSFERRED TO TDR BANK DWELLING UNITS TRANFERED TO TDR IV. APPRAISAL INFORMATION -AS APPLICABLE [APPRAISER MUST BE APPROVED BY THE CITY] NAME Frank Hornstein/AppraisalFirst Real Estate Appraisers, LLC PHONE (305) 470-2130 E-MAIL frank(c-�,auUraisalfirst.net FAX (305) 381-8047 ADDRESS 1444 Biseayne Boulevard, Suite 211 CITY AND STATE Miami, Florida ZIP CODE 33132 DATE OF APPRAISAL July 13, 2021 APPRAISAL VALUE OF SITE $125 per square foot of allowable FAR. V. TITLE COMPANY INFORMATION AS APPLICABLE [TITLE COMPANY MUST BE APPROVED BY CITY] A COMMITMENT OF TITLE INSURANCE FOR A FORM "B" MUST BE SUPPLIED BY THE SENDING SITE APPLICANT AS PART OF A COMPLETE APPLICATION NAME OF TITLE COMPANY To be determined ADDRESS PHONE E-MAIL FAX VI. SURVEY COMPANY INFORMATION NAME OF SURVEYOR Fortin, Leavy, Skiles, Inc. ADDRESS 180 NE 168th Street, North Miami Beach, Florida 33162 PHONE 305-653-4493 E-MAIL danir1,d-.t1ssurvev.coni_FAX 305-651-7152 City of Sunny Isles Beach 3Planning and Zoning Department TDR 2011 CH VII. PROPERTY OWNER CERTIFICATION NAME OF COMPANY Dezer Hotel Management, Ltd. ADDRESS c/o Dezer Development, 18001 Collins Avenue, 3 1 " Floor-, Attn: Arthur Gallagher PHONE (305) 932-1000 E-MAIL agallagher@dezer.com FAX (305) 936-9908 VIII. OUTDOOR CODE VIOLATIONS, AS APPLICABLE (PROVIDE CERTIFICATION FROM CITY'S CHIEF CODE INSPECTOR) IX. CERTIFICATION OF RESOLUTION FOR YOUR PROPERTY AND INCLUDING ADJACENT LOTS City of Sunny Isles Beach 4Planning and Zoning Department TDR 2011 CH X. PROPERTY OWNER CERTIFICATION AND ACKNOWLEDGEMENT I HEREBY CERTIFY THAT 1) THE INFORMATION FURNISHED ON THIS APPLICATION AND THE ATTACHEMNTS ARE TRUE 2) I AM THE OWNER OF RECORD OF THE PROPERTY DESCRIBED IN SECTION (II) (III) (circle applicable number).* CONTRACT PURCHASER OF PROPERTY IN II 3) IF THE APPLICATION, AS MODIFIED OR AMENDED DURING THE REVIEW AND APPROVAL PROCESS, IS GRANTED, I AGREE, IN CONSIDERATION THEREFORE, TO INDEMNIFY AND HOLD HARMLESS, AND PROMISE NOT TO SUE, THE CITY OF SUNNY ISLES BEACH, INCLUDING ITS OFFICERS AND EMPLOYEES, IN CONNECTION WITH ANY CLAIMS OR OTHER ACTIONS ARISING OUT OF SAID REVIEW AND APPROVAL. 4) I HEREBY ACKNOWLEDGE AND AGREE THAT IF THE PROPERTY IS APPROVED AS A SENDER SITE, IT SHALL BE CONVEYED TO THE CITY AS VACANT PROPERTY WITHOUT ANY STRUCTURES LOCATED THEREON, UNLESS OTHERWISE AAPROVED BY THE CITY MANAGER. THE REMOVAL OF STRUCTURES FROM THE SITE SHALL BE AT NO COST TO THE CITY. 5) I HEREBY ACKNOWLEDGE AND AGREE THAT, AT THE EXPIRATION OF THE FIVE YEAR PERIOD COMMENCING WITH THE DATE OF THE CITY COMMISSION APPROVAL OF THE PROPERTY AS A SENDER SITE, ANY UNUSED DEVELOPEMNT RIGHTS TRANSFERRED FROM THE SENDER WE SHALL EXPIRE, TERMINATE AND BECOME EXTING DISHED AND 18401 DE /G/ L'1 EZER A SIGNATURE OF OWNER* (APPLICANT) CONTRACT PURCHASER City of Sunny Isles Beach 5Planning and Zoning Department DATE "I"DR 2011 CH STATE OF FLORIDA COUNTY OF MIAMI-DADE The foregoing instrument was acknowledged before me this day of----, ' . 20;/, by on behalf of"..�C L a Florida (corporation) (partnership) e /She i§ personally known to me or has produced (type of identification produced) as identification and did take an oath. My Commission Expires: Notaiy Public State of Florida I o.�pRY PGBG IRMA M PACCIONE * Commission#6G15705fi Print Name: Jot�_ Na , Expires December 15, 2021 FI-��\ Bonded Tluu Budget N,,,,ysvyiC,,, City of Sunny Isles Beach 6Planning and Zoning Department BENTLEY RESIDENCES Public Hearing Application EXHIBIT 1 LEGAL DESCRIPTION LEGAL DESCRIPTION: Tract "M less the South 350 fcot as mecsu,ed at 90' to the Southerly boundary, AMENDED PLOT OF NORTH BISCAYNE BEACH, according to the plot lhereof, us recorded in Plot Eook 44 at Po4e 42, of the Public Records of Miami —Dade County, Flo,ida. All ;he property thereon is bcunded on the East by the Erosion Cont-ol Line of the Atlantic Ocean, said line reco-ded in Plot Book 134 of Page 47, o= the public Records of Miami —Dodo County, Florida. Prepared by: Edward A, Dion, Esq. City Attorney City of Sunny Isles Beach 18070 Collins Ave Sunny Isles Beach, FL 33 160 ASSIGNMENT OF TRANSFERABLE DEVELOPMENT RIGHTS THIS ASSIGNMENT OF TRANSFERABLE DEVELOPMENT RIGHTS ("Assignment") is made and entered into as of September14 , 2021 ("Effective Date") by and among THE CITY OF SUNNY ISLES BEACH, a Florida municipal corporation ("City"), 18401 DEVELOPERS LLC, a Florida limited liability company and/or its successors or assigns ("Assignee") and NDPRE #14, LLC, a Florida limited liability company ("Nava rro")(the City, Assignee and Navarro are collectively referred to herein as, the "Parties"). WHEREAS, in connection with a requested site plan approval under application PZ2021-06 pertaining to a project commonly known as the "Bentley Residences" located in the City ("Project"), and pursuant to Section 265-23 of the City of Sunny Isles Beach Land Development Regulations ("City LDRs"), Assignee has requested to purchase Transferrable Development Rights ( "TDRs") in the amount of 127,035.58 square feet of floor area and 63 dwelling units ("Required TDRs"); and WHEREAS, the City has a TDR Bank from which it has TDRs available to sell to Assignee ("CSIB TDR Bank"); and, WHEREAS, pursuant to Resolution No. 2018-2840, the City ratified a Land Donation and Transfer of Development Rights Agreement ("Navarro Agreement") between the City and Navarro, pursuant to which the City granted Navarro TDRs in the amount of 126,615 square feet of floor area and 56 dwelling units ("Navarro TDRs") and agreed to transfer the Navarro TDRs to a private TDR account created by the City on Navarro's behalf ("Navarro'I'DR Account"); and, WHEREAS, pursuant to the Navarro Agreement, the City agreed to sell the Navarro TDRs on behalf of Navarro before the City seils'I'DRs frorn the CSIB TDR Batik; and, WHEREAS, in order the satisfy the Required TDRs, the City intends to sell to the Assignee, on Navarro's behalf, TDRs from the Navarro TDR Banktogether with TDRs front the CSIB TDR Bank ; and, WHEREAS, from the Effective Date through the Closing (as later defined liercin) the City will continue to sell Navarro TDRs to willing buyers prior to selling TDRs from the CSIB TDR Bank. NOW, THEREFORE, in consideration of the payment by Assignee to the City and Navarro 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: I . Recitals. The above recitals are trucand correct and archcreby incorporated by reference herein. 2. Site Plan Approval. Subject to the City Commission approving the site plan for the project commonly known as the "Bentley Residences" Linder application PZ2021-06, the City and Navarro agree 5818359 1;3 to sell to the Assignee TDRs in all amount equal to the Required TDRs in accordance with the terms, conditions and covenants contained in this Assignment. 3. Transfer. The City agrees that at the time the lkcquired'I'DRs are transferred to Assignee in accordance with Sections 265-23(F)(2)(a) and (17)(5) of the City LDRs, the City will first transfer the TDRs remaining in the Navarro TDR Bank and then transfer the balance of the Required TDRs from the CSIB TDR Bank. 4. Price. The City and Assignee agree that the purchase price of the Required TDRs is $125.00 per square foot, inclusive of all necessary dwelling units. The total approved purchase price for the Required TDRs equals $15,879,447.50 ("Purchase Price"). 5. Deposit. The Assignee agrees that pursuant to Section 265-23(E)(2)(b) of the City LDRs it will deliver to the City a deposit in the amount equal to ten precent (101,"o) of the Purchase Price ($1,587,944.75] (the "Deposit") within three working days of the City's site plan approval Linder application PZ2021-06. 6. Entitlement to Deposit. The City and Navarro agree the entire Deposit will be delivered to Navarro within five working days of its receipt by the City. Upon Navarro's receipt of the Deposit, the City will reduce the Navarro TDR Bank by 12,703.56 square feet, inclusive of associated dwelling units. 7. Closing. The City and Assignee agree that pursuant to Sections 265-23(F)(2)(a) and (F)(5) of the City LDRs a closing on the transfer of the Required TDRs will occur at a time determined by the City and Assignee on or before the date the City issues a building permit for the Project ("Closing"). At the time of Closing, Assignee will deliver to the City the balance of the Purchase Price, after deducting the amount of the Deposit [$14,291,502.801, in exchange for the irrevocable conveyance, transfer and assignment of the Required TDRs. 8. Transfer. The City agrees that at the time of Closing the City will First transfer all available TDRs contained in the Navarro TDR Batik before transferring any"I'DRs from the CSIB TDR Bank. The Parties acknowledge that between the Effective Date and Closing the City may have sold some or all of the Navarro TDRs in which case the balance of the Required TDRs will be transferred from the CSIB TDR Bank. 9. Payment to Navarro. In accordance with the Navarro Agreement, the City agrees that no later than thirty (30) days after the Closing it will deliver to Navarro an amount equal to Navarro's pro rata share of all TDRs sold from the Navarro TDR Bank and the CSIB TDR Batik. 10. Modification by Navarro. The City acknowledges and agrees that nothing contained in this Assignment precludes Navarro from entering into a separate agreement with Assignee or any other person to sell or assign any remaining Navarro TDRs from the Navarro TDR Bank subsequent to the Effective Date. Further, the Navarro agrees to provide the City notice within ten( 10) business days of the execution of such agreement. 11. Further Assurances; Deliverables. The Parties agree to execute and deliver such other documents as are required by the City or Miami -Dade County, to effectuate the transfer of the Required TDRs to Assignee as contemplated by this Assignment. 12. City and Navarro Represen tat ions,—Warrantics and Covenants. City and Navarro hereby represent, warrant and covenant with and to Assignee as follows: 58 183591;3 (a) City and Navarro have the full power and authority to enter into this Agreement, without the need to obtain any consent or approval of any third party; (b) at the time of transfer, the Required TDRs conveyed and transferred to Assignee pursuant hereto will be free and clear of any liens or encumbrances, including but not limited to any special conditions, restrictions or obligations of the City or Navarro as may otherwise be applicable to such parties by Resolution No. 2018-2840, and no other party shall otherwise have an interest in the same but for Assignee upon such transfer; (c) to the best of the City's knowledge and belief, this Assignment does not violate any rule, law, ordinance, order, agreement or judgment applicable to City, Navarro, the Navarro TDRs, Navarro TDR Bank or the CSIB TDR Bank. 13. 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 all Parties. This Assignment shall be binding upon and inure to the benefit of City, Assignee and Navarro and their respective successors and assigns. 14. WAIVER OF TRIAL BY JURY. EACH PARTY HEREBY WAIVES, 1-0 THE FULLEST EXTENT PERMITTED 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. IN WITNESS WHEREOF, the undersigned parties havccauscd this Assignment to be executed as of the date first written above. WITNESSES: CITY: Print Name: Print Name: 5818.1591:3 TIIE CITY YOFSUNN ISLES BEACH, a Florida 1W44 rpor, ion By: Name: Title: ASSIGNEE: 18401 Devel &rs LLC a Florida Zil �tv co By: ZA�.v Namc: Title: Mcl"a!ev NAVARRO: p P 4, Florida a , LLC LLCa Fllimited liability company By: Name: A-3.Qft", AVI,) C2- 1%, Title: AN 58 183591 ;3