HomeMy WebLinkAboutReso 2026-3997RESOLUTION NO. 2026 - 376157
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
k
PASSED AND ADOPTED this 19th day o March 20 6.
Larisa Svechin, Mayor
Madricio Betancur, CMC, City Clerk
n adoption.
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
Alain E. Boileau, for Nabors, Giblin &
Nickerson, P.A., City Attorney
@BCL@9014D5C2
Page 1 of 2 119
AD
Moved byAulSSlON .- ii,5 Seconded by: O' I Q�� LMD,
Vote: /
Mayor Svechin ✓I Yes) (No)
Vice Mayor Viscarra ✓ (Yes) (No)
Commissioner Joseph (Yes) (No)
Commissioner Lama (Yes) (No)
Commissioner Stuyvesant (Yes) (No)
@BCL@9014D5C2 Page 2 of 2 120
Exhibit A
CITY of City of Sunny Isles Beach
\S LES
y , , � Transferable Development Rights (TDR) Bank
z�� 2025 Annual Report
N
Table 1: City -Owned Sender Sites and TDRs
Gwen Margolis Park
17815 N. Bay Rd.
Ismat Corp. and Simcha Dubitzky
98-78
248,292
143
Pelican 'Comrrrumty Park " .
�t
18115 N Bay Rd.;
� Ismat Corp: `.; =
99-133;;--
166;240
-100
Golden Shores Park
210-215 191 Ter.
Antonio DaSilva
2003-561
11,512
2
Porto Bellag"io
17620 Atlantic Blvd:
Porto"Bellagio Partners, LLC
' 2005-755 ,'
131,611
72
Heritage Park
19200 Collins Ave.
Crescent Heights XLIV, Inc.
2006-911
533,200
283
Joseph Mazacco Irrevocable.
Bella Vista Park"
500 Sunny Isles Blvd'
. "
2006=1010
54,232
21,
.
,
Flonda�Trust.,
Oceania Park
16320 Collins Ave.
Intercoastal Management, Ltd.
2007-1120
11,568
6
Gateway Center
287 Sunny Isles, Blvd:
Phyllis Goldman; Trust '
2008-1213
No address, lot located east of
Gateway Center
St. Tropez III, LLC
2008-1270
53,905
12
287 Sunny Isles Blvd.
Cent
21525unnrles Blvd.
Gold"Clu
anLK; Inc -Gateway
2009-1400,er
223,879
95 ;
2010-1523;b;nc
Intracoastal Park
16100 Collins Ave.
Malibu Plaza on the Bay LLC
2009-1452
86,095
47
Gateway Center ".
151 Sunny Isles Blvd.
RK Associates Vlll Inc. " "
2009-1453
223,879"
95
Intracoastal Park
16200 Collins Ave.
Plaza Isles LLC
2009-1478
89,951
50
Intracoastal Pa"rkr
16050 Collins
Ari Properties, Inc. ""
2009�1483
74,530
41
Intracoastal Park
16000 Collins Ave
TRG Sunny Isles VII West, LLC
2011-1810
77,250
38
Intracoastal Sports'Park
15800 Collins Ave .; '
Dezer"Universal, LLC-,
2015-2405"
80,000
38,
Golden Shores Park
18590 Collins Ave
Corner House, LLC
2016-2511
62,685
30
(fka Corner House)
2014 3
The Spot
215185;St.
Beach Club Acquisition LLC
26,888 "
10
< ,
2022-3289.
Le Richelieu
18126 Atlantic Blvd.
S&B Atlantic Blvd, LLC
2023-3589
43,353
26
Total City -Owned TDRs:
2,415,889
1,214
Page 1 of 7
121
Table 2: TDRs Transferred from City -Owned Sender Sites
S&G of Miami Beach, Inc. King David Ord. 2003-188 31,266 18
IVlandalay LLC Sayan 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
Mansiana Ocean Residences LLC*** IMansiana Ocean Residences 1 2005-859 1 63,820 1 37
Sunny Isles Resort LLLP **
Ocean Beach Resort
2006-1005
0
0
TRG Desert Inri Ventures, Ctd ,
Ocean IV
2007 1027 ;,
9,757
5
R.K. Associates Vill, Inc. (Donation of 151 Sunny Isles
Blvd)*
_
2009-1479
58,500
30
t?laza Isl"es, LLC(Donation of 16200 Gollrns Ave)*
s�
2009 1479
40,000
20
„y
Milton/St. Tropez III (Donation of Sunny Isles Blvd.
2008-1270
29,403
12
parking lot)*
J
Deter Development, LLC (Donation)***.
Alamo`Site
2011 1795
0
0
Gilco Realty, LLC (Donation of 18070 Collins Ave)*
Porsche Design
2011-1811
81,000
42
18555 Collms 1]ev, CL"C'�*
Porsche Design
2012 1913
0
0
LPLA Partners, LP
Mansions at Acqualina
2011-1831
25,000
9
bold Club, Inc (SettlementAgreerne:nt)
2010 1523
20,000r
10
Towne Center Development Properties, LLC
St. Topez I & II
2012-1990
94,680
45
Temple;6'Nai Zon Iris (Settlement°Ageeernent) ,"..`; , . iTurnberry
'; „' ;'
_
„
2014 2274 ,
15,000.Beach
Acquisition, LLC ****
Ocean Club
2014-2275
113,199
46
Table 2 continued on next page...
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122
Table 2 continued on next page...
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123
*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 4 of 7
124
Table 3: TDR Transactions from City -Owned Sender Sites
Table 3 continued on next page...
Page 5 of 7
125
* 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 6 of 7
126
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 7 of 7
127
CPC 9�k PLOW �14.
fTY 4F SUN
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: March 19, 2026
RE: Transferable Development Rights (TDRs) Bank Account Annual Update
(2025)
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. Since the last TDR annual report, the Le Richelieu
property located at 18126 Atlantic Boulevard was added to the list of sender sites, which contributed
43,353 square feet of floor area and 26 dwelling units. To date, the City has deposited 2,412,433 square
feet of floor area and 1,212 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. Since the
last TDR annual report, there has been three transfers to the Mansions of Acqualina for balcony
Item Number: 9.11
117
enclosures, totaling 931 square feet of floor area (applications PZ2025-06, PZ2025-09, PZ2025-12). Also
since the last TDR annual report, there has been one site plan approval for the Miami Beach Club
development project, which resulted in a transfer of 120,972.18 square feet of floor area and 48
dwelling units (application PZ2025-08). 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 340,561 square feet and
219 dwelling units available for transfer.
Table 3 shows the funds collected and uncollected by the City from TDR transactions for development
projects. To date, the City has collected $77,407,863.75 from the sale of TDRs. An additional
$50,417,939.00 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, the
Bentley Residences project located at 18401 Collins Avenue has an outstanding balance of
$14,134,446.50, and the Miami Bach Club project located at 19051 Collins Avenue has an outstanding
balance of $13,609,370.25. Interest payments from TDR payment agreements are not part of the
statement.
Finally, Table 4 shows the active privately -owned TDR bank accounts. There are two active privately -
owned TDR bank accounts that have had all of the TDRs assigned to a specific project. The private
account owned by Dezer Universal, LLC has 15,161 square feet and 7 dwelling units assigned to the
Bentley Residences development project and the private account owned by La Playa Associates, LLC
has 75,000 square feet and 35 dwelling units assigned to the St. Regis Residences development project.
Since the last TDR annual report, the St. Tropez Beach Developers, LLC private account has expired and
the TDRs (19,287 square feet and 9 dwelling units) are now null and void. Per Resolution 2009-1398, the
City Commission adopted a formal policy that a private account may be active for up to ten years, with
the payment of an annual extension fee. The private TDR account for St. Tropez Beach Developers, LLC
was approved by City Commission via Resolution 2015- 2429, which was ten years ago.
ATTACHMENTS:
Resolution
TDR Annual Report
Item Number: 9.H
118