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Home My WebLink AboutReso 2005-859 RESOLUTION NO. 2005- .IlS'1 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA; ACCEPT ANCE OF THE APPRAISED LAND VALUE OF EIGHTEEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($18,500,000) FOR THE PROPERTY GENERALLY LOCATED AT 15701 COLLINS AVENUE; PROVIDING FOR PAYMENT IN THE AMOUNT OF FIVE MILLION ONE HUNDRED FIFTY-SIX THOUSAND SEVENTEEN DOLLARS AND EIGHTY CENTS ($5,156,017.80) BY THE APPLICANT FOR THE TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") IN THE AMOUNT OF 63,820 SQUARE FEET OF FLOOR AREA AND 28 DWELLING UNITS; PROVIDING FOR TEN PERCENT (10%) DEPOSIT FOR TDRS; PROVIDING FOR THE TRANSFER OF CERTAIN NUMBER OF TDRS TO THE APPLICANT UPON RECEIPT OF CERT AIN PAYMENTS; PROVIDING FOR AN ADJUSTMENT OF THE BALANCE OF TDRS FROM THE CITY'S BANK TO REFLECT THE SALE OF TDRS TO MANSIANA OCEAN RESIDENCES, LLC.; PROVIDING THE CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, by Zoning Resolution No. D~-1-~& adopted November 17, 2005, the City Commission approved the zoning application submitted by Mansiana Ocean Residences LLC. ("Applicant") for the transfer of TDRs in the amount of 68,694 square feet of floor area and 31 dwelling units; and WHEREAS, the Applicant agrees to purchase TDRs in the amount of 63,820 square feet of floor area and 28 dwelling units from the City's Transfer Development Rights Bank as established pursuant to Ordinance No. 2004-218 for a development project commonly known as Mansiana Ocean Residences; and WHEREAS, the legal description of the property receiving the TDRs is Lots 78 and the North Y2 of Lot 77, Tatum's Ocean Beach Park Subdivision recorded in PB 5 PO 35 of the Public Records of Miami- Dade County, lying East of the easterly boundary of State Road AlA (a/k/a Collins Avenue), Sunny Isles Beach, Florida; and WHEREAS, pursuant to Section 265-23.4 (b) of the City Code, the City Commission shall consider the acceptance of the appraised land value in the amount of eighteen million five hundred thousand dollars ($18,500,000) for the receiving site; for the purpose of calculating the square foot value of the approved TDRs; and Mansiana IDR Page 1 of 3 WHEREAS, the City Commission shall consider the acceptance of five million one hundred fifty-six thousand seventeen dollars and eighty cents ($5,156,017.80) by the Applicant for the transfer of 63,820 square feet of floor area and 28 dwelling units; and WHEREAS, the City's TDR Bank balance will be adjusted to reflect the sale of TDRs to the Applicant to reflect the reduction of 63,820 square feet or floor area and 37 dwelling units; and 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 are incorporated herein by reference as if they fully set forth herein. Section 2. Approval of Appraised Land Value. The City Commission hereby approves the appraised land value eighteen million five hundred thousand dollars ($18,500,000) ("Appraised Value"), for the Receiving Site as set forth in the attached appraisal summary. Section 3. Total Payment for TDRs Based on the Appraised Value set forth in Section 2 hereinabove, the City Commission hereby approves the payment of five million one hundred fifty-six thousand seventeen dollars and eighty cents ($5,156,017,80) and by the Applicant for the transfer of63,820 square feet of floor area and 28 dwelling units from the City's TDR Bank to the Receiving Site generally located at 15701 Collins Avenue pursuant to Zoning Resolution No. oS-2-W If the Applicant fails to pay the total amount for the TDRs, the City shall retain the development rights for which payment has not been received. Section 4. Deposit. Within three (3) working days of the approval of the Applicant's TDR application and site plan application, the Applicant shall provide the City with a non-refundable deposit in the amount often percent (10%) of the approved purchase price of$5,156,017.80. The total amount of deposit is $ 515,601.00. Failure to pay the required deposit within the three (3) working days of approval of TDR application and site plan application shall result in an automatic voiding of the City Commission approval of the Receiving Site, transfer of TDRs, site plan approval. Section 5. Adiustment to TDR Bank. The Zoning Administrator is hereby instructed to make necessary adjustments to the City's TDR Bank Account to reflect the sale of TDRs to the Applicant, and to make an adjustment to the City's TDR Bank to reflect a decrease of 63,820 square feet and 37 units. Section 7, Authority of the City Manager. The City Manager is hereby authorized to do all things necessary to effectuate this Resolution. Section 8. Effective Date. This Resolution shall become effective upon adoption. Mansiana TDR Page 2 of 3 PASSED AND ADOPTED this 1 ih day ofNovem er ...J "" "ATTE~T: ' ." . , , . \ :, '. ~. ." .< :':~ '~ A"''-'''~ ~'~a:"''''< , .,' ,. ~ --.:" ,'. '1a~e A. Hines, City Clerk -~..' ';-' ",' " f) ,'''' ....l Moved by: r..DMwv..S~\ oAlee.... (" ~ Seconded by: (1hvMt ~\bl\.)~ ~L~/~r Vote: ~-O Mayor Edelcup Vice Mayor Thaler Commissioner Brezin Commissioner Goodman Commissioner Iglesias V(Yes) V(Y es) V(Y es) V LX es) ~Yes) _(No) (No) (No) (No) (No) Mansiana TDR Page 3 of 3 ~ ~ r:Q rJ) f-l ~ ~ ~ = f-l Z ~ ~ ~ o ~ ~ ~ Q ~ o = ~ ~ rJ) ~ f-l If) o -......... "T ...... -......... r--- ~ Q) -l-J m ;::l ~ <r:: c .~ u U d =' o u < t ~ ~ d ~ ~ ~ rJ) ::;J ~ ~~ U c,j ~ 0 l-+-4Cl o ......... 4.1 u ;~fXi~;:g ~g;A;A~ ,",4.1000 O~~~~ (IJ ... 4.1 .... _ d ,.Q~ ~......... ~e- (IJ .... d (IJ ~ d '"' 4.1 ~Cl (IJ 4.1 ... Z~ ~~ ~ 4.1 (IJ '"' d ~ ~ = '"' C" ~cn ~- 0.<;:: e-a .... u t '"' Q.. ..E.::: ~ C" ..=cn ~E ... "' de 4.1 ~t' - 4.1 4.1 Q.. ~ 0 Cllt rrJrrJ-.:t 000 -......... -.........-......... "T-.:to OON -......... -.........-......... NNIf) ...... ...... -.:t-.:t"T 000 -......... -.........-......... NIf)O ............ 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'" o 0..1J) <1)0 "'d'-.. :!(oo ......g 0 _ <=> '-.. _ r-- o I,C It') 00 N N ...; ~ Q\ It') It') r--:' 00 N ~ It') rt') N ~ <=> - o rt') Q\ ~ o -.:t N '-D N r--~ r-- - ~ U ~ {'IS - {'IS lX:l N N 00 '~ IJ)O g- N '-.. it~ oN.- "'r-- <1)r-- ~- (IJ ~ - (IJ ~ S ~ ::s rJ) eo ~ N ~ 00 I,C I,C r--:' N N ~ U ~ {'IS - {'IS !:l:l C t uv tDIDmi.dion City of Sunny Isles Beach NormansBJelcup, 18070 Collins Avenue t.ewis J.Thalrc vl�Myor Sunny Isles Beech, Florida 33160 rry Goodman,Commissioner n m�n,C s er D )IFI ,fonotussi ones (305) 947-0606 Clry Hall (305) 7921565 Fox Cninte aM rill mCrya1 ger (305) 947-2150 BuildingDe admen) Hans Jane m e City Attorney ors p tanen nmes,Ln Clerk MEMORANDUM To: The Honorable Mayor and City Commission From: Planning and Zoning Date: November 17,2005 Re: Mansiana Ocean Residences I.LC RECOMMENDATION It is recommended that the City Commission approve the proposed resolution for the Transfer of Development Rights (TDRs) from the City TDR Bank. The applicant is requesting the transfer of development rights in the amount 28 dwelling units and 63,820 square feet to be used in the proposed development. The total payment to be received by the City for the purchase of the TDRs is 55,156,01 7.80. Agenda Item I D N Date II—I'7-06