HomeMy WebLinkAboutReso 2025-3772RESOLUTION NO. 2025 - 7
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. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 16th day of Janu , 2 5.
ATTEST:
Maurici�o Betancor, CMC, City Clerk
Larisa Svechin, Mayor
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
Iain E. Boileau, for Nabors, Giblin &
Nickerson, P.A., City Attorney
@BCL@F80C5142.docx Page 1 of 2
Moved by: l.�/�/l�lrSl101i�_ r1 -S4 -4,Y%9 Seconded by:
Vote:
Z(Yes)
Mayor Svechin
(No)
Vice Mayor Lama%J�Yes)
(No)
Commissioner Joseph
„/(Yes)
(No)
Commissioner Stuyvesant
(Yes)
(No)
Commissioner Viscarra
(Yes)
(No)
@BCL@F80C5142.docx Page 2 of 2 175
Exhibit A
City of Sunny Isles Beach
Transferable Development Rights (TDR) Bank
2024 Annual Report
Table 1: City -Owned Sender Sites and TDRs
Page 1 of 6 176
Table 2: TDRs Transferred from City -Owned Sender Sites
S&G of Miami Beach, Inc.
King David
Ord. 2003-188
31,266
18
Mandalay LLC `
Sayan:
Ocean IU
Ord '2004=206:
36,477
21"
Benge Enterprises, Inc, LSB Investments, Sunny Isles Beach
Entertainment Corp. and Franco Posteraro and Domenico Figlia
St. Tropez
2005-786
112,905
65
TRG Sunny Isles, LTD`
Trump Towers I;,II, III
2005-822.
177,262.
Mansiana Ocean Residences LLC***
Mansiana Ocean Residences
2005-859
63,820
37
MuIly56, LLG **.,, %.
Da Vma :..
20Q5 867
0 `
Oz
La Mansion, LLC
Regalia
2006-891
54,385
31
Ocean Palm Motel; Inc: ** 'Chi
..._,
Milton/St. Tropez III (Donation of Sunny Isles Blvd.
20Q6 992
0`
0
Urbis & Key Int. LLLP
Sunny Isles Marina
2006-1002
1,869
1
Sunny Isles Resort LLLP **
Ocean Beach Resort
2006-1005
0
0
TRG3 Desert Inn Dentures, Ltd }
Ocean IU
00710,27
R.K. Associates VIII, Inc. (Donation of 151 Sunny Isles
Blvd)*
2009-1479
58,500
30
Pl 1126'' les, LLC (Doriation of 16200 Collins
2009 1479
40,000
20
t ,
Milton/St. Tropez III (Donation of Sunny Isles Blvd.
parking lot)*
2008-1270
29 403
'
12
Gilco Realty, LLC (Donation of 18070 Collins Ave)* 113orsche Design
2011-1811 1 81,000 1 42
ILPLA Partners, LP IMansions at Acqualina 1 2011-1831 1 25,000 1 9 1
Table 2 continued on next page...
Page 2 of 6 177
La Playa Beach Associates, LLC
m
La Playa Varadero
1 2015-2497 283,485 120
Ruslan Krivoruchko
Mansions at Acqualina
2016-2604
361
0
t
Alexey Knysov
Mansions at Acqualina
2017 2748
229
0
Elias Saal and Diana Grimberg
Acqualina Resort and Spa
2021-3272
343
0
NDPRE # 14 LLC (Donation of 18500 Collins Ave.) *
Mansions at AcgUa(ma
Y•. .F
2018-2840
126,615
56
Ian�Gree�iberg h
Mar stops at Acqualina
42019 2953
X229
0
LenjP` Fiaussler
s,
Mansions at Acqualina'
2022 3408
824
0
17749 Collins Owner, LLC
Mansions at Acqualina
2019-2954
789
0
Florida House Turnberry, LLC
Mansions at Acqualina
2021-3254
287
0
184,01 Developers, LLC „+ .....
Bentley Residences
r 2021 3239
"12564 58
12
Elias Saal and Diana Grimberg
Acqualina Resort and Spa
2021-3272
343
0
Weslnvest Development and RealEstate, LLC '
rHF x.. F.v .f,
Mansions at AcgUa(ma
Y•. .F
;' 2022 3795
308
«0
Sunny Isles Living LP
Mansions at Acqualina
2022-3410
313
0
LenjP` Fiaussler
s,
Mansions at Acqualina'
2022 3408
824
0
MMJM II Trust, Jennifer Cuipa TRS, et al.
Mansions at Acqualina
2023-3506
313
0
Carol`A Nappi TItS
Marjsions at Acqualina •
2023 3507
789
0 "
Ninna 1801 Corp
Mansions at Acqualina
2025-
613
0
Total City -Owned TDRs
(see Table 1):
2,370,282
1,187
Total TDRs Transferred:
1,908,118
947
City -Owned TDRs Balance:
462,164
240
*Donation of TDRs provided as part of real estate transactions.
** TDRs were not used and transaction was cancelled.
*** Development not constructed, the TDRs were transferred to a private sub -account.
**** Applicant received TDR credit for donating 215 185 St.
Page 3 of 6 178
Table 3: TDR Transactions from City -Owned Sender Sites
Table 3 continued on next page...
Page 4 of 6 179
* Applicant paid 10% of non-refundable deposit, but development order expired and TDRs were returned to the City.
** Applicant received a credit of $204,775 for undergrounding utilites and $841,580 as part of a real estate transaction.
*** Payments are transfer fees collected by the City to release West side only condition.
**** The purchase price of $5,156,017 was increased by an additional $252,485 of interest payments.
***** The purchase price of $4,500,206 was decreased by $380,957 due to settlement of outstanding loan agreement.
****** TDRs were not used by the Applicant and were reverted to the City.
Page 5 of 6 180
Table 4: Private Transferable Development Rights (TDR) Bank Accounts
* Per Reso 2009-1398, "Any owner of privately owned development rights (TDRs) acquired pursuant to
Section 265-23 of the City Code may request a ten (10) year extension to utilize development rights
purchased from a private party. The owner of said TDRs shall pay to the City an annual fee..."
Page 6 of 6 181
� •p9 '—mac.. a�::---Q. f
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: January 16, 2025
RE: Transferable Development Rights (TDRs) Bank Account Annual Update
(2024)
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. The
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 total
amount of TDRs transferred to date is 1,908,118 square feet of floor area and 947 dwelling units. There
is a current balance of 462,164 square feet and 240 dwelling units available for transfer. Since the last
TDR annual report, there has been one transfer of 613 square feet to the Mansions of Acqualina for a
Item Number: 9.6
172
balcony enclosure (application PZ2025-02).
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 additional
$36,885,193.75 will be collected by the City in the near future from approved TDR transfers that are
subject to payment agreements or will be collected at building permitting. Notably, the St. Regis
Residences 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 ofthe statement.
Finally, Table 4 shows the three active privately -owned TDR bank accounts. The private TDRs available
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 a specific
project.
ATTACHMENTS:
Resolution
Exhibit A: TDR Annual Report 2024
Item Number: 9.6
173