HomeMy WebLinkAboutReso 2023-3581RESOLUTION NO. 2023 - I
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 NECESSARY 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
ATTEST:
Effective Date.
This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 16th day of vem r 2023.
MauriciA Betancurl CMC, City Clerk
Larisa Svechin, Mayor
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
0
in E. Boileau, for Nabors, Giblin &
Nickerson, P.A., City Attorney
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Moved byl/v-6 IVAt1.W Seconded by:
Vote:
Mayor Svechin (Yes) (No)
Vice Mayor Joseph (Yes) (No)
Commissioner Lama (Yes) (No)
Commissioner Stuyvesant (Yes) (No)
Commissioner Viscarra (Yes) (No)
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FLo
C,Tk of
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: Amy Canales, Planning and Zoning Director
DATE: November 16, 2023
RE: Transferable Development Rights (TDRs) Bank Account Annual Updat,
(2023)
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 the Transferable Development Rights (TDRs) program. Thf
document attached to the Resolution as Exhibit A delineates the amount of development rights that
are in each TDR bank account.
Table 1 outlines the City -owned sender sites that have been created since adoption of the TDR
ordinance. These are the properties owned by the City that have had the development rights severed
and may be transferred to eligible receiver sites. To date, the City has deposited 2,370,282 square feet
of floor area and 1,187 dwelling units into the TDR bank as available for transfer.
Table 2 shows the amount of City -owned TDRs that have been transferred to private parties. The tota
amount of TDRs transferred to date is1,907,505 square feet of floor area and 947 dwelling units.
There is a current balance of 462,777 square feet and 240 dwelling units available for transfer. Since
the last TDR Annual Update, there have been five (5) transfers. All were for balcony enclosures at the
Item Number: 10.1)
Mansions at Acqualina project (Resolutions 2022-3295, 2022-3410, 2023-3506, 2023-3507) and
resulted in a total of 2,547 sq. ft. of floor area and zero (0) dwelling units reduced from the City -
owned TDR balance.
Table 3 shows the funds collected and uncollected by the City from TDR transactions for development
projects. To date, the City has collected $75,740,211.50 from the sale of TDRs. An additiona
$36,808,568.75 will be collected by the City in the near future from approved TDR transfers that arE
subject to payment agreements. Notably, the St. Regis project located at 18801 Collins Avenue has an
outstanding balance of $22,517,066.00 and the Bentley Residences project located at 18401 Collins
Avenue has an outstanding balance of $14,134,446.50. Interest payments from. TDR payment
agreements are not part of the statement.
Finally, Table 4 shows the three active privately -owned TDR bank accounts. The private TDR account!
availability for transfer to eligible receiver sites is 19,287 square feet of floor area and nine (9)
dwelling units.
There are two active privately -owned TDR bank accounts that have had all of the TDRs assigned to
specific project.
ATTACHMENTS:
Resolution
Annual Report
Item Number: 10.D