HomeMy WebLinkAboutReso 2015-2496 RESOLUTION NO. 2015-zA(P
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 THE TDR 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.
Section 3. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 19th day of Nove er, 20 .
. Geor H. Scholl, Mayor
• ,
I; ATTEST:_
•
t f -; L.4.)
ane •• •. Hi es,`MMC, City Clerk
e
APPROVED AS TO FORM
AND2L A ' FFICIENCY
CAI
H. s • WI City Attorney
Moved by: Cy, eA OLjyod
Seconded by: t ce, ctL v' Goer TO
Vote:
Mayor Scholl v(Yes) (No)
Vice Mayor Gatto t/ (Yes) (No)
Commissioner Aelion ✓ (Yes) (No)
Commissioner Goldman ✓,(Yes) (No)
Commissioner Levin V (Yes) (No)
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 SlBlvd 53,905 11
10. 151 SlBlvd (RK) 223,879 95
11. 16200 Collins Ave. (Plaza Isles) 89,951 50
12. 16100 Collins Ave. (Koslosky) 86,095 47
13. SlBlvd 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
Total TDRs from City Owned Properties since 2,282,963 1,148
Adoption of TDR Ordinance
Exhibit "A"
Last update on November 2015 Page 1 of 4
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHT-BANK ACCOUNT
Sq. Ft. Units
Total TDRs from City Owned Properties since Adoption of TDR Ordinance 2,282,963 1,148
Development Rights Used Or Transferred To Private Used Sq. Ft. Used Units
Development From City TDR Bank
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
6. Mans-i-a-Aal--Sel+s**** 637820 '3�
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
13. Milton/St.Tropez(Donation)* 29,403 12
14. Dczcr Development,LLC(Donation)* 0 0
15. Gilco Realty/Porsche(Donation)** 81,000 42
16. 18555 Collins Dcv.,LLC*** 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(*****) 122,833 50
23 GSF Acquisitions. LLC(Palazzo) 15,797 7
24 Ritz Carlton 49,098 23
25 Marriott 13,766 8
26 Armani Casa 133,750 '63
City's TDR Bank Account Total: 2,282,963 1,148
Subtract Subtotal: 1,344,318 694
TDR BALANCE TOTAL: 938,645 454
*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).
Page 2 of 4
Last update November 2015
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT
ACCOUNTS TDR FUNDS COLLECTED TDR FUNDS UNCOLLECTED
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 1
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 i
14. LPLA Partner,LLP $1,625,000.00 $0.00
15. 18555 Collins Dcv.,LLC $0.00 - ****** $0.00
16. Fort Apache $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) $1,414,988.00 $12,737,887.00
21. GSF Acquisitions.LLC(Palazzo) $197,463.00 $1,777,162.00 '
22. Ritz Carlton $612,725.00 $5,514,525.00
23. Marriott $59,195.00 $532,743.00
Uncollected
TOTALS: Collected Funds $44,819,237.25 Funds $20,562,317.00
* These developments paid 10%of non-refundable deposit,but development orders expired. TDR's were returned to the City.
** 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.
***** The purchase price of$4,500,206.00 was decreased by$380,957.00 due to settlement of outstanding loan agreement.
******TDRs were reverted to City TDR bank-TDRs were not used by developer.
Uncollected Funds Owed to the City for TDRs ,
Sq.Ft. Units TDR Funds Uncollected
Transactions ■
1. Beach Acquisitions, LLC(Turnberry) 122,833 50 $12,737,887.00
2. GSF Acquisitions.LLC(Palazzo) 15,797 7 $1,777,162.00
3. Ritz Carlton 49,098 23 $5,514,525.00
4. Marriott 13,766 8 $532,743.00
201,494 88 $20,562,317.00
Total Credit to TDR Bank Total Uncollected Funds
Total TDRs Funds Collected $44,819,237.25
TDR Funds Uncollected $20,562,317.00
Total TDRs Funds $65,381,554.25
Last update on November 2015 Page 3 of 4
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Item Coversheet Page 1 of 2
,
""Y!!. City of Sunny Isles Beach
oft
c, -1, 18070 Collins Avenue
. -' I. Sunny Isles Beach,Florida 33160
'''• °'4•FLO°'soo'°• (305)947-0606 City Hall
''o.s,,w' (305)949-3113 Fax
MEMORANDUM
TO: The Honorable Mayor and City Commission
•
VIA: Christopher J. Russo,City Manager
FROM: Claudia Hasbun,Zoning Administrator/Planning
Manager
DATE: 11/19/2015
RE: Transfer of Development Bank Accounts Annual Update
RECOMMENDATION:
Staff recommends approval of the attached Resolution.
•
REASONS:
The City Commission wishes to confirm the amount of development
rights that is currently owned by the City and private owners under our
Transfer Development Rights (TDR) program. The resolution
• documents delineate the amount of development rights that are in
each TDR account.
Page one of the attachment outlines the development rights that the
City has acquired during the years. There are 2,282,963 square feet
and 1,148 dwelling units from all the properties that the City has
acquired. The changes from FY14/15 is the lot from Dezer
Development, located at 15800 Collins Ave, this property is now part
of the TDRs program.
Page two shows the amount of TDRs the City has transferred to
private parties. The total amount of TDRs transferred is 1,344,318
square feet and 694 units. There is a current balance in the City's
TDRs account of 938,645 square feet and 454 units as of the date of
this memorandum.The decrease from last fiscal year is 82,864 square
feet and 40 units. This is the result of the Dezer Sales Center TDRs
trade-off,as well as Ritz Carlton, Marriott and Armani casa projects.
Page three of the attachment shows the funds collected by the City
from the sale of TDRs to development projects. Currently the City has
collected$44,819,237.25 from the sale of development rights. There is
another $20,562,317.00 that the City expects to collect in the near
future.
Finally, page four delineates the accounts that show the amount of
development rights owned by private owners. The accounts total
amount to 51,525 square feet and 25 units. There is a change of
34,245 square feet and 21 units; this is the result of a new account
created in favor of St. Tropez for non-use TDRs in the amount of
19,287 sq. ft and 9 units (this TDRs are restricted to west side only);
the assignment of Gil Dezer account to Armani Casa in the amount of
68,694 sq ft and 37 units(account closed); and the remainder TDRs in
favor of Dezer Universal, LLC in the amount of 15,161 sq. ft. and 7
•
units(Account created for acquisition of the Alamo site).
http://sunnyisles.novusagenda.com/AgendaWeb/CoverSheet.aspx?ItemID=1792 11/12/2015
Item Coversheet Page 2 of 2
ATTACHMENTS:
Description
Resolution
TDRs Bank Annual Update 2015
Item Number: 10.J.
http://sunnyisles.novusagenda.com/AgendaWeb/CoverSheet.aspx?ItemID=1792 11/12/2015