HomeMy WebLinkAboutReso 2016-2536 RESOLUTION NO. 2016-253
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, AMENDING RESOLUTION
NO. 2014-2339 TO REDUCE THE TOTAL AMOUNT OF
TRANSFER DEVELOPMENT RIGHTS (TDRs) APPROVED FOR
THE MARRIOTT PROJECT LOCATED AT 17700 COLLINS
AVENUE; DIRECTING THE ZONING ADMINISTRATOR OR
DESIGNEE TO MODIFY THE CITY TDRs BANK ACCOUNT IN
ACCORDANCE WITH THIS RESOLUTION; PROVIDING THE
CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS
NECESSARY TO EFFECTUATE THIS RESOLUTION;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, pursuant to Resolution No. 2014-2339, adopted on November 20, 2014, the
City Commission approved the assignment of TDRs from the City Transfer Development Rights
Bank("TDRs Bank") in the amount of 13,766 square feet of floor area and eight(8) dwelling units
of TDRs in favor of the Marriott Project located at 17700 Collins Avenue, Sunny Isles Beach,
Florida; and
WHEREAS, pursuant to Section 265-18 (I)(2)(a) the Project presented a Site Plan
Modification (the "Modification") to the City and on February 16, 2016 the City Manager
administratively approved a Minor Site Plan Modification for the Marriott Project as reflected in
attached Exhibit "A", which reduced the total amount of TDRs original approved for the Project;
and
WHEREAS, the Modification essentially reduced the Project's TDRs from 13,766 square
feet of floor area and eight (8) dwelling units to 9,671 square feet of floor area and six (6) dwelling
units, for a total reduction of 4,095 square feet of floor area and two (2) dwelling units of TDRs;
and
WHEREAS, the equivalent cash value of reduction of the TDRs equals $176,085 Dollars
from the original cash value amount of$591,938 Dollars; and
WHEREAS, the City Commission wishes to amend Resolution No. 2014-2339 to reflect
a reduction in the amount of TDRs approved for the Project.
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 Zoning Administrator to Adjust the City TDRs Bank. Pursuant to
Section 265-23 of the City Code, the City Commission hereby amends Resolution No. 2014-2339
to reflect a reduction in the total amount of TDRs approved for the Marriott Project in accordance
with the approval of a Minor Site Plan Modification and authorizes the Zoning Administrator to
Marriott,Reduction of 1'DR Page 1 of 2
reduce the amount of TDRs approved for Marriott Project by 4,095 square feet of floor area and
two (2) dwelling units.
Section 3. Authority of the City Manager. The City Manager is hereby authorized to do all
things necessary to effectuate this Resolution.
Section 4. Effective Date. This Resolution shall become effective upon ado stion.
PASSED AND ADOPTED this 17th day of March, 2016.
George H/Scholl, Mayor
ATTEST:.
Jane A. Hi es, MMC, City Clerk
jai
it
APPROVED AS TO FORM
AND L A UFFICIENCY:
4rAI
..ans Ottinot, City Attorney
Moved by: A„ Art..LID10
Seconded by:
Vote:
Scholl 1/Yes) (No)
Vice Mayor Gatto /Yes) (No)
Commissioner Aelion i/(Yes) (No)
Commissioner Goldman t/,('`Yes) (No)
Commissioner Levin 17 (Yes) (No)
•
Marriott,Reduction of TDR Page 2 of 2
JNNy �S[ City of Sunny Isles Beach George"Bud" Scholl, Mayor
F S r, ;;:_;:. Fs 18070 Collins Avenue ' Jeanette Gatto, Vice Mayor
a A:;_ y Sunny Isles Beach, Florida 33160 Isaac Aelion, Commissioner
_r.--- . Dana Goldman, Commissioner
• _,,- T .
• . $�___-„"s 305.947.0606 City Hall Jennifer Levin, Commissioner
`. ; -', .' 305.949.3113 Fax
�_`_'� " r Christopher J. Russo, City Manager
tiF P,T-. FL N l''IQ � Hans Ottinot, City Attorney
°F 5”" ' Jane A. Hines, CMC, City Clerk
MEMORANDUM
TO: Christopher J. Russo, City Manager
FROM: Claudia Hasbun, Planning and Zoning Administrator
if
CC: Hans Ottinot, City Attorney
Stan Morris, Deputy City Manager
Clayton Parker, Building Official
DATE: February 16, 2016 •
RE: Residence Inn by Marriott - Minor Modification Request
This is a request for a Minor Modification of the approved site plan for the Residence Inn
by Marriott, which was approved by the City Commission pursuant to Zoning Resolution
• No. 14-Z-148 and Resolution No. 2014-2339, adopted on November 20, 2014 ("The
Project"). The Project is located at 17700 Collins Avenue and consists of an 18-story hotel
• building with 194 hotel room with 110,009 square feet of Floor Area Ratio (FAR).
I. Background
As indicated above, the City Commission approved a site plan consisting of an 18-story
hotel building with 194 hotel rooms with 110,009 square feet of FAR. The total approved
FAR was inclusive of 13,766 square feet of Transfer development Rights (TDRs). As of
this date,the Project is going through the building permitting process, during such process
the developer has reduced certain areas previously accounted for FAR.
II. Request
This Minor Modification request is to permit the approved project to incorporate the
following site plan revisions:
• A FAR reduction for the overall project from 110,009 square feet of FAR to
105,914 square feet of FAR; and
• The reduction of TDRs from 13,766 square feet to 9,671 square feet; and
• A reduction of the total TDRs price from $591,938 to $415,853; and
Residence Inn by Marriott—MM February 2016 Page 1 of 3
Exhibit "A"
• The reduction of one (1) parking space due to the decrease of 4,095 square
feet of FAR for a total of 212 parking spaces.
III. Standards for Granting a Minor Modification
In order to be considered for a minor modification of an approved site plan, the project
needs to be in compliance of Section 265-18 I.(2) of the City Code as described below:
§265-18 I.(2) Minor modification. The City Manager shall administratively approve
"minor" changes and deviations from an approved site plan which are in
compliance with the provisions and intent of this chapter and which do not depart
from the principal concept of the approved plan. An amendment shall be
considered a minor modification if in compliance with each of the following
limitations:
(a) The modification does not change lot overage, setbacks, height increase or
decrease, as well as density or intensity calculations set forth in a previously
approve site plan. Notwithstanding the foregoing or any other provision in this
section, a decrease in density and intensity of an approved site plan shall be
considered a minor modification, which does not require the approval of the City
Commission, where such modification results in a decrease of density or intensity
of no more than five percent of the approved density or intensity calculations in the
site plan;
(b)The change is not an alteration that would otherwise require a variance or
would not meet the requirements of the Code of the City of Sunny Isles Beach;
(c)There is no change in the location, size and general site compatibility of
building, lighting and signs;
(d)There is no increase in the number of average daily trips;
(e)The change does not alter the location of any points of ingress, egress, access
and vehicular and pedestrian patterns to the site;
(f) The changes do not substantially decrease the value of or substantially change
the character or location of any improvement or amenity;
(g) Change to landscape material, location, planting techniques, species, or size as
deemed necessary by the City Manager or his/her designee due to availability or
site conditions; and
(h) The change does not result in a material modification or the cancellation of any
condition placed upon the site plan as originally approved.
Residence Inn by Marriott—MM February 2016 Page 2 of 3
IV. Applicant's Comments
Pursuant to Section 265-18 I.(2) of the City Code, the Applicant has submitted the
following statement. A letter from the Applicant is attached.
V. Staff Analysis
Staff finds that the revisions to the previously approved site plan are in compliance with
the Minor Modification requirements of Section 265-18 I. (2) of the City Code. Staff also
finds that none of the aforementioned minor.changes affect the overall building site, open
space, setbacks, density, lot coverage, or unit count.Attached is a set of plans received
February 10, 2016 for your review. In addition, Staff will present a revised TDRs
resolution to the City Commission confirming the amended amount of TDRs for the
Project.
Approval
Date 0/4(
Christo. er r/e,„
City Manager
Legal Review
Kara Date /e//6!
H s Ottinot
ty Attorney
Residence Inn by Marriott—MM February 2016 Page 3 of 3
17700 Collins Avenue Owner; LLC
1065.Kane Concourse, Suite 201
Bay Harbor Islands, FL 33154
February 12, 2016 VIA EMAIL
Claudia Hasbun
Planning and Zoning Administrator
City of Sunny Isles Beach
18070 Collins Avenue, 3`d Floor
Sunny Isles Beach, FL 33160
RE: Request for Minor Modification of Site Plan Application (Application No. PZ 2014-14)(the Site
Plan")for Residence Inn by Marriott Hotel Project(the "Project")to be located at 17700 Collins
Avenue, Sunny Isles Beach, FL
Dear Ms. Hasbun:
Please consider the attached Open A./Lot Coverage F.A.R. Diagram prepared by Kobi Karp Architecture
dated 2-10-2016 as a minor modification to the Site Plan which results in a reduction of F.A.R for the
Project from 110,009 square feet to 105,914 square feet which falls within the five percent(5%)threshold
for a reduction in F.A.R.
In light of the fact that 17700 Collins Avenue Owner, LLC ("Applicant") purchased available TDR's from
the City of Sunny Isles Beach (the "City") at a cost of $43 psf as set forth in Resolution No. 2014-2339
("TDR's Resolution") dated November 20, 2014, the monetary contribution to be made by Applicant to
the City in connection with the Project shall be reduced by 4,095 square feet of $176,085 which is the •
product of the above described F.A.R. reduction and the per square foot price of TDR's as set forth in the
appraisal attached to the TDR's Resolution.
In addition to the foregoing and in connection with the F.A.R. reduction described above, please further
' note that the future restaurant space was reduced from 2,170 sf of front of the house space and 726 sf of
back of the house space which totaled 2,896 sf to a total of 2,592 sf of front of the house space. This
reduction in overall square footage of the restaurant results in a reduction of the required parking for such
space from 19 spaces to 18 space.
Thank you for your assistance with this request. Please do not hesitate to contact me with any questions
or comments.
Best gards,
K.je
-.:e► invarb,
Manager of 17700 Collins Avenue Manager, LLC
Manager of 17700 Collins Avenue Owner, LLC
ul.NY IS City of Sunny Isles Beach
�s e..., 18070 Col I ins AMIue
o `k .-ss 0,. Sunny Isles Beach,Florida 33160
i'si4 °' i (305)947-0606'City Hall
5.,
!ilIRffl Building Department Fax
e'')-0I S us�'
RECEIPT OF FUNDS Date: 4 l$Ia*,
]business Code(s): Application#
Received$ Li"t OOD O in❑ cash,or lV heck# I I c 1
�
From MOO b'tfS P\12fV-t. OwruX � - -LC 1
Address 0 .S Kar Li • n GO U--r -, ''-e„ . a iii. at i• Z Qrlc{S
351r.- I
$ ❑ Local Business Tax Receipt Application Fee - NON REFUNDABLE
$ ❑ Local Business Tax Receipt Fee
-$ ❑ Local Business Tax Receipt Renewal Fee - 2015/2016
$ ❑ Change of.Business Address/Nate Fee
$ ❑ Duplicate Local Business Tax Receipt Fee
$ ❑ Duplicate Certificate of Use Fee
$ ❑ Certificate of Use Application Fee-NOM REFUNDABLE
$ ❑ Certificate of Use Fee
•
$ - ❑ Certificate of Use Renewal Fee - 2015/2016
••
$ ❑ Zoning Letter/Alcoholic Beverage License Fee
$ L CCO.CO e(
7 Zoning marina Fed Minor MOClRC0.iion of S',{e PGA _ Marriott
•
i $ ❑ Code Enforcement Fine/Fee
$ ❑ Solid Waste Fee
$ 0 Vacant Lot/Property/Building/Apartment Registry Fee
$ 0 Lien Search Fee
$ ❑ Parking Permits Fee - Resident/Special/Monthly
$ . ❑ Extension of Construction Hours Fee
$ _ ❑ Special Event 6 Cleaning Inspection Fee
$ ❑ Clean-up Deposit Fee -REFUNDABLE
$ ❑ Other
Received by:
.
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aCityillOtiOnaFBank
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17700 Collins Avenue Owner,LLC Z5 WE RAOIER STAER
MIAMI,F6/6666 -• •
1065 Kane Concourse,Suite 201 . 63-43-60 •
Bay Harborlslands,FL 33154 . . . 2/18/2016 '
•
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PAY TO THE City of.Sunn .Isles Beach 4,000.00 .
ORDEROF Y Y $ •• "e
Four Thousand and 00/100 -
. DOLLARS
City of Sunny Isles Beach 17 atlas A •nue Owner,LCC
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MEMO !'AViHDRRED SIGNATURE
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RESOLUTION NO. 2014- 2,339
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE
TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") IN THE
AMOUNT OF THIRTEEN THOUSAND SEVEN HUNDRED SIXTY
SIX (13,766) SQUARE FEET OF FLOOR AREA ("FAR") AND
ZERO (0) DWELLING UNITS TO 17700 COLLINS AVENUE
OWNER, LLC. FOR THE PROPERTY LOCATED AT 17700
COLLINS AVENUE FROM THE CITY'S TDR BANK ACCOUNT;
DIRECTING THE ZONING ADMINISTRATOR OR DESIGNEE
TO TRANSFER THE TDRs FROM THE CITY'S BANK ACCOUNT
IN ACCORDANCE WITH ZONING RESOLUTION NO.
I4-2-118 ; AUTHORIZING FOR THE ADJUSTMENT AND
MODIFICATION OF THE CITY'S TDR BANK; PROVIDING THE
CITY MANAGER AND CITY ATTORNEY WITH THE
AUTHORITY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, by Zoning Resolution No.141 Z N$adopted on November 20th, 2014 the City
Commission approved the zoning application submitted by 17700 Collins Avenue Owner. LLC
(Applicant") for the transfer of TDRs in the amount of 13,766 square feet of floor area and 0
dwelling units; and
WHEREAS, pursuant to Section 265-23E of the Code of the City of Sunny Isles Beach;
the City Commission shall consider the acceptance of the appraised land value in the amount of
Four Million One Hundred Fifty Thousand Dollars (S4,150,000) for the receiving. site for the
purpose of calculating the square foot value of the approved TDRs; and
WHEREAS, the City's TDR Bank balance will be adjusted to reflect the sale of TDRs to
the Applicant in the amount of Thirteen Thousand Seven Hundred Sixty Six (13.766) square feet
of floor area and Eight (8) dwelling units; and
WHEREAS, the Applicant is required to pay a per square foot price of Forty Three Dollars
(S43.00) as set forth in the appraisal attached as Exhibit "A"; and
WHEREAS, the City Commission agrees to accept Five Hundred Ninety One Thousand
Nine Hundred Thirty Eight Dollars (S591;938.00) from the Applicant for the payment of TDRs in
the amount of Thirteen Thousand Seven Hundred Sixty Six (13.766) square feet of floor area and
Zero (0) dwelling units; and
WHEREAS; the receiving site for the TDRs is located at 17700 Collins Avenue, Sunny
Isles Beach and is legally described in Zoning Application No. PZ2014-14; and
17700 Collins Avenue Owner, I.I.0 -City TDR Bank Page I of 3
WHEREAS, the City Commission wishes to approve the transfer of the TDRs
contemplated herein in accordance with its TDRs ordinance.
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 Transfer of Development Rights. Pursuant to Section 265-23 of the
City Code and in accordance with Zoning Resolution No.14-214e, the City Commission hereby
authorizes the transfer of the development rights in the amount of Thirteen Thousand Seven
Hundred Sixty Six (13,766) square feet of floor area and Zero (0) dwelling units to 17700 Collins
Avenue Owner; LLC. from the City's TDR bank account.
Section 3. Directive to Zoning Administrator. The Zoning Administrator or designee is hereby
directed to transfer the development rights from the City's TDR Bank to 17700 Collins Avenue
Owner, LLC. in accordance with Zoning Resolution No.('-2-f g.
Section 4. Authorizing the Adjustment and Modification of TDRs. The Zoning Administrator
is hereby authorize to adjust by decreasing the City's TDR bank account by Thirteen Thousand
Seven Hundred Sixty Six (13;766) square feet of floor area and Eight (8) dwelling_ units.
Section 5. Payment Agreement for the Transfer of Development Rights. The Applicant shall
provide the City with a non-refundable deposit in the amount Fifty Nine Thousand One Hundred
Ninety Five Dollars (S59,195) which is 10% of the approved purchased price of Five Hundred
Ninety One Thousand Nine Hundred Thirty Eight Dollars (S591,938) within three (3) working
days of the approval of this Resolution. The remainder of the payment is due prior to issuance of
the building permit for the site plan approved in accordance with Zoning Resolution No. 114-2-(4q
Section 6. 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 7. Effective Date. This Resolution shall become effective upon adoption.
PASSED AND ADOPTED this 20th day of November. 2014.
tl • • //
•orman S. Edelcu., Mayor
17700 Collins Avenue Owner,I.1.0 -City TDR Bank Page 2 of 3
- ATTEST:
Jane-A. Hines. MMC, City Clerk
i • ' . •
•APPROVED.A TO FORM
•A\TD L t/y. .1 FFICIENCY:
1 A
. ity Attorney
Moved by: Nj C-t ( aiAu 00
Seconded by: C,,ityrnm\ \ptiA e_�
Vote: S -b
Mayor Edelcup L/ (Yes) (No)
Vice Mayor Aelion (/(Yes) (No)
Commissioner Gatto ;(Yes) (No)
Commissioner Levin ' (Yes) (No)
Commissioner Scholl i/(Yes) (No)
17700 Collins Avenue Owner,1.I.0 -City TDR Bank Paee 3 of 3
AppraisalFirst
- Real Estate Appraisers LLC
1444 Biscayne Boulevard,Suite 211
Miami,Florida 33132
Phone:305470-2130
Fax:305-381-3047
Email:residential(aapraisalfirst.net
E-mail:commercialeappraisalfirst.net
September 17, 2014
Robert I. Finvarb
President and Chief Executive officer
Robert Finvarb Companies
1065 Kane Concourse, Suite 201
Bay Harbor Islands, Florida 33154
Re: A commercially zoned property located at 17700 Collins Avenue,Sunny Isles Beach,Florida
33160.
Dear Mr. Finvarb:
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 is an Appraisal Report which is
intended to comply with reporting requirements set forth under Standards Rule 2-2(a)of the Uniform
Standards of Professional Appraisal Practice (2014-2015). Under the previous USPAP for 2012-
2013 the report would have been described as a Summary Report
The value opinion reported is qualified by certain definitions, limiting conditions and certifications
which are set forth on pages 32 through 34 of this report. The extraordinary assumption as it relates
to market value is stated herein. The report is not premised upon a hypothetical condition.
This appraisal report is in compliance with the minimum standards of the Uniform Standards of
Professional Appraisal Practice (USPAP 2014-2015). Because the intended use of the appraisal is
for internal purposes the report may not be in conformance with Title XI of FIRREA and Department
of the Treasury Interagency Appraisal and Evaluation Guidelines.
The subject property of this appraisal is the underlying., commercially zoned, land area that is
improved with a retail store that was completed in 1957 and contains 14,637 square feet of building
area. The subject parcel contains 32,085 square feet or .737 acres of land area (Survey).
•
Robert I, Finvarb
President and Chief Executive officer
Page Two
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.
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.
1 have not 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
September 15, 2014, is:
S43.00 Per SF of Allowable FAR
Respectfully submitted,
MY
Frank Hornstein, MAI
State-Certified General
Real Estate Appraiser, No. RZ1376
EXECUTIVE SUMMARY
Property Type: A commercially zoned parcel of land.
Intended Use: The intended use of the appraisal report will be to assist the client in
establishing the cost of Transfer Development Rights (TDR's) as it
pertains to the subject property.
Intended User: Robert Finvarb Companies and/or assigns.
Property Description:
Location: 17700 Collins Avenue,
Sunny Isles Beach, Florida 33160
Folio 31-2211-004-004-0330
Number:
Zoning.: B-I, Neighborhood Business District by the City of
Sunny Isles Beach, Florida.
Site Size: .7323 acres or 31,900 square feet (Public Records)
.7366 acres or 32,035 square feet(survey).
Census Tract: 1.26
Flood Zone: AE
Date of Value: September 15, 2014
Date of Report: September 17, 2014
Property Rights Appraised: Fee Simple Estate
Highest & Best Use: Future mixed use development in accordance with the zoning code
and Sunny Isles Beach LDR.
Marketing/Exposure Tinie: Within 12 months
VALUE INDICATIONS
Market Value
Sales Comparison Approach: S4,1 50;000
Final Per SF of Allowable FAR S43.00
City Commission
�s � SFf City of Sunny Isles Beach Norman S.Ede lcup,Mayor
0 _ F 18070 Collins Avenue Isaac Aelion, Vice Mayor
•
�.�.0= i Sunny Isles Beach, Florida 33160
Jeanette Gatto,Commissioner
• Jennifer Levin,Commissioner
' •. George"Bud"Scholl,Commissioner
rz: • (305) 947-0606 City Hall
•
• -1 may_ � • (305)949-3113 Fax Christopher J.Russo,City Manager
54. ' F l°B o'' (305)947-2150 Building Department Hans Ottinot,City Attorney
').)'OF $v$+ (305)947-5107 Fax Jane A.Hines,City Clerk
MEMORANDUM
•
TO: The Honorable Mayor and City Commission
VIA: Christopher J. Russo, City Manager
FROM: Claudia Hasbun, Planning and Zoning Administrator
DATE: November 20, 2014
RE: 17700 Collins Avenue Owner, LLC. —TDRs Application
Residence Inn by Marriott— Sunny Isles Beach
17700 Collins Avenue
Appl. No. PZ2014-14
REQUEST: The Applicant is requesting to approve the utilization of public TDRs in the
amount of 13,766 square feet of development rights and 0 dwelling units.
However, the reduction from the City's TDRs bank will reflect a total of 13,766
square feet and eight (8) dwelling units. The effect of the TDR's purchase and
approval on the project would be an increase in F.A.R. only since this project
does not include a residential component.
The appraisal report reflects the square foot value of a TDRs as Forty Three
Dollars ($43.00) per square foot. Thus, the total TDR purchase is $591,938.
The Applicant shall provide the City with a non-refundable deposit in the
amount of ten percent (10%) of the approved purchased price of $591,938
for the Transfer Development Rights (TDRs) purchased from the City Bank.
The total amount of the deposit is $59,195. Failure to pay the required deposit
within the three (3) working days of approval of the Transfer Development
Rights (TDRs) application and site plan application shall result in an
automatic voiding of the City Commission approval of the Receiving Site,
transfer of Transfer Development Rights (TDRs), and site plan approval.
RECOMMENDATION:
Based on staff review of the submitted TDRs application, the application is
consistent with the City's Comprehensive Plan and the City's Land
Development Regulations and staff does not have any objection to the
assignment of TDRs.
•
ATTACHMENTS:
Resolution
TDRs application
Appraiser Report — Executive Summary
SU' "Y's Fs City of Sunny Isles Beach
c`% \�,
\..I, 18070 Collins Avenue
1� ' `_Y'1; Sunny Isles Beach, Florida 33160•
iP 'P. `;°J (305)947-0606 City Hall
r„ o
_ "" (305)949-3113 Fax
MEMORANDUM
TO: The Honorable Mayor and City Commission
VIA: Christopher J. Russo, City Manager
FROM: Claudia Hasbun, Planning and Zoning Administrator
DATE: 3/17/2016
RE: Amending the Total of Transfer Development Rights
(TDRs)Approved for the Marriott Project.
RECOMMENDATION:
This Resolution is presented for your consideration.
REASONS:
Pursuant to Resolution No. 2014-2339, the City Commission approved
the azsignment of TDRs to the Marriott Project in the amount of 13,766
square feet of floor area and eight (8) dwelling units. Subsequently,
pursuint to City Code Section 265-18 (I)(2)(a) the Project submitted a
request for a Minor Site Plan Modification to the City and it was
administratively approved, attached hereto as Exhibit"A".
The o:iginal cash value of TDRs for the Project was $591,938 and the
TDR - ;eduction is equal to $176,085. The project has already paid the
10% ._ieposit required, therefore, the remainder amount to be paid for
TDRJ is equal to $356,659.20.
ATTACHMENTS:
Description
Resolution
Exhibit A
Item Number: 10.F.
135