HomeMy WebLinkAboutReso 2022-3381RESOLUTION NO. 2022 - -�-
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 308 SQUARE FEET OF
FLOOR AREA RATIO ("FAR") AND ZERO (0) DWELLING UNITS FROM THE CITY'S
PUBLIC TDR BANK ACCOUNT TO SUNNY ISLES LIVING LP; AUTHORIZING THE
DEVELOPMENT SERVICES DIRECTOR TO WITHDRAW 308 SQUARE FEET OF FAR
AND ZERO (0) DWELLING UNITS FROM CITY'S PUBLIC TDR BANK ACCOUNT AND
ASSIGNING THE 308 SQUARE FEET OF FAR TO THE PROPERTY LOCATED AT
17749 COLLINS AVENUE, UNIT 602; AUTHORIZING THE ADJUSTMENT AND
MODIFICATION OF THE CITY'S TDR BANK ACCOUNT; 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- 1 L uE adopted onJU .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 Sunny Isles Living LP
("Applicant") related to the property located at 17749 Collins Avenue, Unit 602, Sunny Isles Beach,
Florida, for intensity increases of the overall Floor Area Ratio (FAR) square footage from 4,609
square feet of FAR to 4,917 square feet of FAR, an increase of 308 square feet of FAR for Unit 602,
as well as for the purchase and assignment of TDRs in the amount of 308 square feet of FAR and
zero (0) dwelling units; and
WHEREAS, the City Commission hereby agrees to approve the sale and assignment of
TDRs from the City's public TDR Bank account to the Applicant in the amount of 308 square feet
of FAR and zero (0) dwelling units; and
WHEREAS, solely the TDRs in the amount of 308 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 17749 Collins Avenue, Unit 602, Sunny Isles Beach; and
WHEREAS, the City's public TDR Bank account will be adjusted to reflect the withdrawal
of 308 square feet of FAR and zero (0) dwelling units to the Applicant and to reflect the TDRs
assignment of solely the 308 square feet of FAR for the property located at 17749 Collins Avenue,
Unit 602, Sunny Isles Beach; and
WHEREAS, the property receiving the 308 square feet of FAR is described on Exhibit "A"
attached hereto; and
WHEREAS, the City Commission agrees to authorize the sale and the assignment of the
TDRs contemplated herein as an incentive for development pursuant to its Charter and Home
Rule Authority.
R2022 TDRs for Mansions at Acqualina Unit 602 Page 1 of 3
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, AS FOLLOWS:
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 the City's public TDR account to
Sunny Isles Living LP. The City Commission hereby approves the sale and assignment of Transfer
of Development Rights ("TDRs") in the amount of 308 square feet of FAR and zero (0) dwelling
units from the City's public TDR account to Sunny Isles Living LP. Sunny Isles Living LP shall submit
to the City non-refundable deposit in the amount of ten percent (10%) of the approved purchased
price of $38,500.00 for the TDRs purchased from the City Bank. The total amount of the deposit
is $3,850.00. Failure to pay the required deposit within the three (3) working days of approval of
the TDRs application and site plan application shall result in an automatic voiding of the City
Commission approval of the Receiving Site, transfer of TDRs, and Site Plan Approval. Additionally,
the Applicant shall provide the City proof of payment for the remaining balance of Transfer
Development Rights (TDRs) in the amount of $34,650.00 for the TDRs purchased from the City
Bank. Failure to pay the remaining balance prior to the issuance of the building permit, shall result
in an automatic voiding of the City Commission approval of the Receiving Site, transfer of TDRs,
and Site Plan Approval
Section 3. Authorizing the Withdrawal and Assignment of TDRs. The City Commission hereby
authorizes the Planning and Zoning Director to withdraw 308 square feet of FAR and zero (0)
dwelling units from the City's public TDR account and to assign 308 square feet of FAR for the
development project for the property located at 17749 Collins Avenue, Unit 602, Sunny Isles
Beach, Florida approved under Zoning Resolution No.-%.
Section 4. Directive to Development Services Director. The Planning and Zoning Director or
their designee is hereby directed to adjust the City's public TDR account to reflect the withdrawal
of TDRs in the amountf 308 square feet of FAR and zero (0) dwelling units according to Zoning
Resolution No.
Section 5. 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 6. Repealer. All Resolutions or parts of Resolutions in conflict herewith shall be and
are hereby repealed.
Section 7. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 28th day of July 2022.
/X -
Dana Robin Goldman, Mayor
R2022 TDRs for Mansions at Acqualina Unit 602 Page 2 of 3
ATTEST:
Mauric o Botancgr, CMC, City Clerk
APPROVED AS TO FORM
AND LEGA FFICIENCY:
Edward A. Dion, City Attorney
Moved by: 1 ►rb` r � tV ded by: f' v i;' y�}
Vote:
Mayor Goldman
Vice Mayor Viscarra
Commissioner Joseph
Commissioner Lama
Commissioner Stuyvesant
(files) (No)
Yes) (No)
Yes) (No)
(Y s) (No)
,- Yes) (No)
R2022 TDRs for Mansions at Acqualina Unit 602 Page 3 of 3
DECEIVED
JUN -.3 2022
PLANNING & ZONING DEPT.
City of Sunny Isles Beach, FL
AN APPRAISAL REPORT OF
THE PURCHASE OF TDR'S AS IT PERTAINS
TO THE EXPANSION OF A RESIDENTIAL UNIT
LOCATED IN
THE MANSIONS OF ACQUALINA
AT
17749 COLLINS AVENUE, UNIT 602
SUNNY ISLES BEACH, FLORIDA 33160
Appraisal No. 05-22-188
FOR
Sunny Isles Living LP
17749 Collins Avenue
145 Adelaide Street West, STE 500
Toronto, ON MSH 4E5 Canada
c/o Carmen Tillit
East of Collins -Expediting
BY
APPRAISALFIRST
Real Estate Appraisers, LLC
1444 Biscayne Boulevard, Suite 211
Miami, Florida 33132
AppraisalFirst
Real Estate Appraisers LLC
1444 Biscayne Boulevard, Suite 211
Miami, Florida 33132
Phone: 305470-2130
Fax: 305-381-8047
E-mail: residential@apraisalrirst.net
E-mail: frankgappraisalfirst.net
June 3, 2022
Sunny Isles Living LP
17749 Collins Avenue
145 Adelaide Street West, STE 500
Toronto, ON MSH 4E5 Canada
c/o Carmen Tillit
East of Collins -Expediting
RECEIVED
JUN -3 2022
Pzav � 0
PLANNING & ZONING DEPT.
City of Sunny Isles Beach, FL
Re: The purchase of Transfer Development Rights (TDR's) as it pertains to the expansion of a
residential unit located in the Mansions of Acqualina, at 17749 Collins Avenue, Unit 602,
Sunny Isles Beach, Florida 33160.
Dear Ms. Tillit:
As requested, I have prepared the attached appraisal report of the above referenced property. The
purpose of the report is to estimate a cost per unit for the purchase of Transfer Development Rights
(TDR's), as it pertains to the underlying subject property. This appraisal report is intended to comply
with reporting requirements set forth under Standards Rule 2-2 (a) of the Uniform Standards of
Professional Appraisal Practice USPAP (2020-2021). The Appraisal Standards Board of The
Appraisal Foundation voted to extend the expiration date of the 2020-2021 USPAP publication by
one year. Instead of expiring on December 31, 2021, the current USPAP will remain in effect until
December 31, 2022.
The value opinion reported is qualified by certain definitions, limiting conditions and certifications
which are set forth on pages 38 through 40 of this report. The extraordinary assumption is stated
herein. The report includes no hypothetical conditions.
The subject property consists of an approximate 313 square foot terrace area within a residential unit
in the Mansions of Acqualina located along the ocean side of Collins Avenue, between 177" and
178`h Streets, Sunny Isles Beach, Florida. The Mansions of Acqualina consists of a 47 -story, luxury
condominium tower, with 79 residential units, consisting of seven expansive, flow through, floor
plans. The building was completed in 2015.
Sunny Isles Living LP
Page Two
The subject unit, which is unit 602, contains 4,609 square feet, and three bedroom, six and one half
bathroom floor plan. The unit owner is planning to enclose an approximate 313 square foot terrace.
In order to increase the square footage of the subject unit the owner will be required to purchase
TDR's from the TDR bank of Sunny Isles Beach. This report may not be fully understood by users
other than the property owner, their representatives and the appropriate officials with the City of
Sunny Isles Beach.
As per the LDR, at the time of approval of the TDR's, the City Commission shall consider the
acceptance of the appraised land value for the receiving site as follows: the cost for a square
foot of development right shall be determined by the market value of the receiving site as
determined by a current real estate appraisal (updated no more than three months from the
date the application is heard at a public hearing) prepared for the City by an appraiser,
selected by the City Manager, but paid for by the owner of the receiving site. The appraisal
amount shall then be divided by the permitted floor area ratio, including bonuses on the
receiver site.
Zoning and Legal Officials with the City of Sunny Isles Beach established parameters with
regard to the selection of comparable sales. These parameters preclude the Appraiser from
going outside the City limits to search for comparable land sales. Because of the parameters
and restrictions enforced by City officials toward the appraisal process the conclusion should
not, and has not been, considered market value as typically defined. The conclusion is the
most probable price paid by a developer for TDR's in Greater Sunny Isles Beach and not a
market supported value.
Because the intended use of the appraisal is for internal purposes, related to establishing a purchase
price for the TDR's, the report may not be in conformance with Title XI of FIRREA and Department
of the Treasury Interagency Appraisal and Evaluation Guidelines.
The appraiser has previously provided consultation and value estimates for properties similar to the
subject property throughout the South Florida region. As such, the appraiser is in compliance with
the competency provision contained within USPAP. A copy of the appraiser's qualifications is
included in the addenda.
Sunny Isles Living LP
Page Three
I have not, nor has any of my associates, provided professional services related to the subject
property, as an appraisers or in any other professional capacity, within the prior three years,
preceding this date of appraisal.
By virtue of my investigation and analyses, it is the opinion of the appraiser that, the cost per unit
for the purchase of TDR's, as they pertain to the subject property, as a fee simple estate, as of June
2, 2022, is:
$125.00 Per SF of Allowable FAR
Respectfully submitted,
Frank Hornstein, MAI
State -Certified General
Real Estate Appraiser, No. RZ1376
Property Type:
Property Description:
Date of Value:
Date of Report
EXECUTIVE SUMMARY
A multi -family zoned ocean front parcel of land.
Location
17749 Collins Avenue, Unit 602
Sunny Isles Beach, Florida 33160
Unit Folio No.
31-2211-083-0460
Zoning:
MU -R, a mixed use resort district by the City of
Sunny Isles Beach, Florida.
Site Size:
2.275 acres or 99,099 square feet (Survey& Public
Records) - Entire Project Site.
Census Tract:
1.26
Flood Zone:
X, AE and VE (See Addenda)
June 2, 2022
June 3, 2022
Property Rights Appraised: Fee Simple Estate
Highest & Best Use: Continuation of the existing condominium project
Marketing/Exposure Time: Within 12 months
VALUE INDICATIONS
Sales Comparison Approach: $125.00 Per SF
Final Per SF of Allowable FAR $125.00
TABLE OF CONTENTS
Letter of Transmittal
Executive Summary
Identification of Subject Property
1
Dates of Value & Report
1
Purpose of the Appraisal
1
Prior Recent Sales and History
1
Definition of Market Value
2
Property Rights Appraised
3
Use of the Appraisal
3
Intended User of the Appraisal
3
Summary of Scope of Work
4
Assessed Value and Tax Information
7
National Economic Outlook and Indicators
8
Miami -Dade County Area & Economic Overview
10
Neighborhood Description
15
Zoning
21
Street Improvements/Access
22
Site Description
24
Highest and Best Use
25
Sales Comparison Approach to Value
27
Reconciliation and Final Market Value Conclusion
34
Exposure Time
35
Certification
36
Assumptions and Limiting Conditions
37
Exhibits
Location Map 2
Neighborhood Map 16
Aerial Photograph 23
Land Sales Map 29
RECEIVE®
ate Received
PLANNING & ZONING DEPT.
'City of Sunny Isles Beach, FL
�yF cAs7��,p o ywr
FL O
/rY OF SUN P�
APPLICATION FORM
TRANSFER OF DEVELOPMENT RIGHTS
PROGRAM CERTIFICATE
Cleric of Court Use Only
»,._....,..,.�».r.,.q...,r.w,A� ,..,., H;A''YL'ii.'`x�1V`.l"A'1V1�'[�.►t'1V1:AiJr'11V1V...�,.�,,.»w....r.�...,...,,...r�..�.-...M�.....,...».... �...�.,...«..,r..�..r-..r.w..r..�.,.,.,�.
NAME SUNNY ISLES LIVING LP
pHONE41(a_ b9 -a -13`i E-MAIL PAX
ADDRESS 17749 Collins Ave. #602
CITY AND STATE_3unny Isles Beach FL ZIP CODE 33160
II. R + CEIVER SITE INFORMATION AS APPLICABLE
OWNERS NAME SUNNY ISLES LIVING LP
PHONE IW L 6G9-471 LI E-MAIL FAX
ADDRESS.__ 17749_ Collins Ave. #602
CITY AND STATE Sunny Isles Beach _ _ FL _ ZIP CODE 33160
.PROPERTY ADDRESS&OCATION 17749 Collins Ave. #602
17749 COLLINS AVENUE CONDO #602 UNDIV 1.162791%
LEGAL DESCRIPTION INT IN COMMON ELEMENTS OFF REC 29719-2548
FOLIO NUMBER 31-2211-083-0460 CURRENT ZONING
�cResidential
LJ
PROPERTY SIZE4 609 SF PURCHASE DATE 030/2022
atY✓INiifUiM,i/SSATU�IM,(o1WiiPLIM 1YSYNlNoy'NlkNrf.MIw�M�51c1iK�N1YCOlfitlltttM1nrYO.l4VM451111}11<lYllrrp114T,1.YLLVAtvllt%V4vY%N1CNIn'11L14Vh15R4Y.PiNNP.VL:.vr1A.HW:gVfIM(tM1'+14k1YlinJLlrIlM1 J➢(M1YYIIAYWfM1Yt1
City of Sunny Isles Beach I Planning and Zoning Department
r TDR 2011 Cli
EXISTING USE OF PROPERTY Residential
EXISTING STRUCTURE ON PROPERTY Residential
PROPOSED FLOOR AREA RATIO 4 922 SF DENSITY 0
PERCENTAGE OF RIGHTS TO BE RECEIVED
SQUARE FOOTAGE OF FLOOR AREA TO BE RECEIVED 313 SF
DWELLING UNITS TO BE RECEIVED 0
TOTAL FLOOR AREA. RATIO INCLUDING TDR 433;875
TOTAL DWELLING UNITS INCLUDING TDR 0
IN S DING SITE-INFORMATION—
OWNERS
IT {
OWNERS NAME
PHONE E-MAIL FAX
ADDRESS
CITY AND STATE ZIP CODE
PROPERTY ADDRESS/LOCATION
LEGAL DESCRIPTION
FOLIO NUMBER CURRENT ZONING
PROPERTY SIZE PURCHASE DATE
EXISTING USE OF PROPERTY
EXISTING STRUCTURES ON PROPERTY
BASE FLOOR AREA RATIO PERMITTED UNITS PERMITTED
SQUARE FOOTAGE OF FLOOR AREA TRANSFERRED TO TDR BAND
DWELLING UNITS TRANFERED TO TDR BANK_.
A`gnYi[44'VbNISlR0.Alu(qTl?.M11J�1.W4N�'Ap11V'RK�'fpN1':41Yry 1.Y/.I:WII�'N'9'IIM�KAr(sYY/.Irlrl�lAy�IAWRfttt1!/iYFW.OuvtublUv+vYv.IM1Y.'�TMHhtNR/n'MMI•/l+c7aY/iTrik�u:c�b'.PI�AH4YiM'M1N)1�1WVPNYU M'/Ni�n/lw1YAU.'LMIv/kill '
City of Sunny Isles Beach 2 Planning and Zoning Department
TOR 2011 CI{
IV. APPRAISAL INFORMATION - AS APPLICABLE [APPRAISER MUST BE
APPROVED BY T , CITY]
NAME
PHONE E-MAILFAX
ADDRESS—
CITY AND STATE ZIP CODE
DATE OF APPRAISAL,
APPRAISAL VALUE OF SITE
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 TILE
SENDING SITE APPLICANT AS PART OF A COMPLETE APPLICATION
NAME OF TITLE COMPANY,
ADDRESS
PHONE E-MAIL
FAX
VI. SURVEY COMPANY INFORMATION
NAME OF SURVEYOR
ADDRESS
PHONE E-MAIL
FAX
VII. PROPERTY OWNER CERTIFICATION
NAME OF COMPANY SUNNY ISLES LIVING LP
ADDRESS 17749 Collins Ave. #602
PHONE• �(o� x 7 3 9 E-MAIL
FAX
VIII, OUTDOOR CODE VIOLATIONS, AS APPLICABLE,
d.avn`.rmCnncrorn'lNlrevwanvrNnux+,xJren++mmxxvrcmllxraWNna�nvmanA.awr.ml.ov:oNnew.'t��munrbuvmrh+luxnr.Wne+'nonrsnml/urrrSayscaninuR.rfrrysaantmLn9ueY+m AruunKnavavMR
City of Sunny Isles Beach 3 Planning and Zoning Department
TOR 2011 CII
(PROVIDE CERTIFICATION FROM CITY'S CHIEF CODE INSPECTOR)
IX. CERTIFICATION OF RESOLUTION FOR YOUR PROPERTY AND INCLUDING
ADJACENTLOTS
X. PROPERTY OWNER CERTIFICATION AND ACKNOWLEDGEMENT
I HEREBY CERTIFY THAT
1) THE INFORMATION FURNISHED ON THIS APPLICATION AND THE ATTACIIEMNTS
ARE TRUE
2) I AM THE OWNER OF RECORD OF THE PROPERTY DESCRIBED IN SECTION (11).(111)
(circle applicable number).
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 BEACII, INCLUDING ITS OFFICERS AND EMPLOYEES, IN
CONNECTION WITH ANY CLAIMS OR OTHER ACTIONS ARISING OUT OF SAID
REVIEW AND APPROVAL,
4) 1 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.
S) 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 SITE SHALL EXPIRE, TERMINATE AND
BECOME EXTINGUISIZD AND UNUSABLE,
SIGNATURE OF 0 ER (APPLICANT) DATE
SIGNATURE OF CO-OWNER (CO -APPLICANT)
DATE
STATE OF FLORIDA.
sa�:,=„R:-�«,. nTM�,,.r�,a�.,..��_ %..,::.,,,:,
City of Sunny Isles Beach 4 Planning and Zoning Department
TDR 201101
COUNTY OF MIAMI-DADE
The foregoing instrument was acknowledged before me this _ day of
20 , by _ on behalf of
a. Florida (corporation) (partnership) (other)
_ . He /She is personally known to me or has produced
_ (type of identification produced) as identification
and did take an oath.
My Commission Expires:
Notary Public State of Florida
Print blame:
STATE OF Q;aR*0 Mq U0X-
COUNTY OF NSW Y04r_-
The for 10
r instrument was acknowledged before me this qu*1'` day of
20,'A by ;sirW on behalf oftl
50"Al LP
He/She is personally known to me o U�
pv Ilwec;and did take an oath.
My Commission Expires: 602. 41
Notary Public, State of A1Q,W oh1�.
..r..__ Print Name: tI'a,
•STM
OFMWYMK
NOTARY PUBLIC'
:. OrIW NNer floury;'
� imrweenouur,vn:nuv�u.anm•.a:•craus,eaw nr-u , .r,ran ...-u. o.. a ,....v , v.. r:.. •n. , o.,. e .... . ...,. . ..... oY �e. ..:rtnrvracn•a,nxawomnnrr
City of Sunny Isles Beach Planning and Zoning Department
'F\ y
x QF Sts �{ h
TO:
VIA:
FROM:
DATE:
RE:
RECOMMENDATION:
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
Stan Morris, City Manager
Amy Canales, Planning and Zoning Director
July 28, 2022
Transfer Development of Rights for Balcony Enclosure at Mansions al
Acqualina, Unit 602 (Application No. PZ2022-06)
This application is consistent with the City's Comprehensive Plan and the City's Land Developmen
Regulations. Staff has reviewed the application requests and has no objection if all conditions are
accepted.
REASONS: t16' The Applicant is requesting approval for the purchase and assignment of TDRs in the amou31--
square feet of FAR and 0 dwelling units from the City's public TDR bank account. The apprao
done by Appraisal First Real Estate Appraisers, LLC., date stamped June 3rd, 2022, reflects the square
foot market value of the subject property (17749 Collins Ave) as $125.00 of allowable FAR. ThE
Applicant has agreed to pay the square foot value of $125.00. Thus, the total TDR purchase i
$39,125.00. The required deposit of 10% is equal to $3,912.00 and is due three days after site plan
approval. The remaining fee is due prior building permit is issued. The effect of the TDRs purchase anc
approval on the project would be an increase in intensity (square footage).
ATTACHMENTS:
Resolution
Appraisal Report.pdf
TDR Application.pdf
W-0
v4—
Item NumberK4A