HomeMy WebLinkAboutReso 2022-3296RESOLUTION NO. 2022 - 57-1(e
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 17th day of February 2022.
ATTEST:
Ma6-ricio Betancur, CMC, City Clerk
jX---
Dana Robin Goldman, Mayor
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
rte.
. j--f-dward . Dion, City Attorney
@BCL@540CF4FD.docx Page 1 of 2 154
Moved by: �NUUli�to `� ��� IV���� Seconded by: % e V(Sewpc-
Vote:
Mayor Scholl
✓ (Yes)
(No)
Vice Mayor Viscarra
�- (Yes)
(No)
Commissioner Joseph
✓ (Yes)
(No)
Commissioner Lama
✓ (Yes)
(No)
Commissioner Stuyvesant
(Yes)
(No)
@BCL@540CF4FD.docx Page 2 of 2 155
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 Sl Blvd
53,905
11
10.
151 Sl Blvd (RK)
223,879
95
11.
16200 Collins Ave. (Plaza Isles)
89,951
50
12.
16100 Collins Ave. (Koslosky)
86,095
47
13.
SIBlvd 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 January 2022 Page 1 of 4 156
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHT - BANK ACCOUNT
Total TDRs from City Owned Properties since Adoption of TDR Ordinance 12,370,282
Sq. Ft.
Units
1,187
Development g s Used Ur Transterred To Private Used Sq. Ft.
Development From City TDR Bank
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.
Plaza Isles (Donation)*
40,000
20
12.
Urbis & Key Int.
1,869
1
fT
Milton St. Tropez (Donation)*
29,403
12
14.
Dewe: n.,,,.,1,,.,., eRt LLC C (D9R .+ieR)*
0
0
15.
Gi co Realty/Porsche Donation
81,000
42
16.
118555Cellins Bev., 66C ***
0
0
17.
LPLA 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
Ritz Carton
49,098
25
Marriott (******)
9,671
6
26
Armani Casa
133,750
63
27
Vara ero
283,485
120
28
118590 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
Pan Greenberg
229
Dennis Randi Riese
789
0
35
Estates at Acqualina (*******)
47,399
23
E37
Florida House urnberry,
18401 Developers, LLC (Bentley)
12,564
12
38
Elias Saal and Diana Grimber
343
0
City's TDR Bank Account Total:
2,370,282
1,187
SU btract su oa:
1,9U5,U37
*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).
******* TDRs were conditionally approved for Estates under 2018-2808 and used and fully paid in 2021
Page 2 of 4
Last update January 2022 157
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159
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT
These
** 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.
****** TDRs were reverted to City TDR bank - TDRs were not used by developer.
Uncollected Funds Owed to the City for TDRs
Transactions
ACCOUNTS
TDR FUNDS COLLECTED
TDR FUNDS UNCOLLECTED
283,485 120 $26,060,625.00
Total Credit to TDR Bank Total Uncollected Funds
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.
Ocean 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.
3 8555 r.,nin5 -9ey i i G
$0.00
******
$0.00
16.
FortApache
$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.
Beach Acquisitions, LLC (Turnberry)
$11,070,625.00
$0.00
21.
GSF Acquisitions. LLC (Palazzo)
$1,974,625.00
+
$0.00
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.
Balcony enclosures (Mansions)
$73,750.00
$0.00
26
A3 Development, LLC (Estates)
$9,318,250.00
$0.00
27
Balcony enclosures (Mansions)
$28,625.00
$0.00
28
Balcony enclosures (Mansions)
$98,635.00
$0.00
29
Balcony enclosures (Mansions)
$35,875.00
$0.00
30
18401 Developers (Bentley)
$157,057.25
$1,413,515.25
31
Balcony enclosures (Acqualina)
$42,875.00
$0.00
TOTALS: Collected Funds $75,421,846.50
Uncollected
Funds
$27,474,140.25
These
** 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.
****** TDRs were reverted to City TDR bank - TDRs were not used by developer.
Uncollected Funds Owed to the City for TDRs
Transactions
Sq. Ft. Units TDR Funds Uncollected
2. IVaradero
283,485 120 $26,060,625.00
283,485 120 $26,060,625.00
Total Credit to TDR Bank Total Uncollected Funds
Total TDRs Funds Collected 1$75,421,846.50
TDR Funds Uncollected $27,474,140.25
Total TDRs Funds (collected and uncollected) 1$102,895,986.75 1
158
Last update on January 2022 Page 3 of 4
V
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: Stan Morris, City Manager
FROM: Claudia C. Hasbun, Planning and Zoning Director
DATE: February 17, 2022
RE: Transfer of Development Rights (TDRs) Bank Account Annual Update (2021)
RECOMMENDATION:
Staff recommends approval of this Resolution.
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 (TDRs) program. Thi
documents attached to the Resolution delineate the amount of development rights that are in each
TDRs 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 page has no changes from last Fiscal Year.
Page two shows the amount of TDRs the City has transferred to private parties. The total amount o
City TDRs transferred is1,905,037 square feet of FAR and 947 dwelling units. There is a current
balance in the City's TDRs account of465,245 square feet and 240 dwelling units as of the date of this
memorandum. The reduction from the City's TDR bank account is relating to four TDRs transactions
firstly, the use of conditional TDRs for the Estates project in the amount of 47,399 square feet and 23
dwelling units pursuant to Resolution No. 2018-2808, secondly, the sale of 287 square feet to a private
Item Number: 10.0
152
owner for a balcony enclosure at Mansions at Acqualina pursuant to Resolution No. 2021-3254,
thirdly, the sale of 12,564 square feet and 12 dwelling units to 18401 Developers, LLC for the Bentley
project pursuant to Resolution No. 2021-3239. Lastly, the sale of 343 square feet for another balcony
enclosure at Acqualina Resort pursuant to Resolution No. 2021-3272.
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 approximately $75,421,846.50 from the
sale of TDRs. There is another $27,474,140.25 that the City expects to collect in the near future from
approved projects. Interest payments from TDRs payment agreements are not part of the statement.
Finally, page four delineates the accounts that show the amount of development rights privately
owned. The following private TDRs transactions took place in 2021. First, pursuant to Resolution No
2021-3196, NDPRE #14, LLC (Navarro) sold to A3 Development LLC (Estates) a total amount of 11,8E
square feet and 5 dwelling units, second, pursuant to Resolution No. 2021-3222 Navarro sold to 43 SIE
LLC (Balcony Enclosure) a total of 283 square feet and 0 dwelling units, third, pursuant to Resolutior
No. 2021-3241 Navarro sold 114,471 square feet and 51 dwelling units to 18401 Developers, LL(
(Bentley). For all Navarro TDRs transactions, the City was responsible for the brokerage of the sales
with these transactions, Navarro private TDRs bank was depleted. The other private TDRs transactioi
was, pursuant to 2021-3240 the assignment of 15,161 square feet and 7 dwelling units from Dezer
Universal, LLC to 18401 Developers, LLC (Bentley). The private TDRs accounts availability is onl�9,287
square feet of floor area and 9 dwelling units, all other active private TDRs accounts have beer
assigned to a specific project.
ATTACHMENTS:
Resolution
Annual Report
Item Number: 10.0
153