HomeMy WebLinkAboutOrdinance 2003-187
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ORDINANCE NO. 2003 -.-J B 1
CFN 2004R0022907
OR Bk 21964 P9S 4881 - 48841 4P9S)
RECORDED 01/12/2004 12:18:3~
HARVEY RUVIH, CLERK OF COURT
MIAMI-DADE COUHTY, FLORIDA
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES
BEACH, FLORIDA, PROVIDING FOR THE ACCEPTANCE OF THE APPRAISED
LAND VALUE OF TWENTY-FIVE MILLION FIVE HUNDRED THOUSAND AND
NOIlOO DOLLARS ($25,500,000.00) FOR THE PROPERTY LOCATED AT 17001
COLLINS AVENUE. A/KJA JADE ON THE BEACH; PROVIDING FOR THE
ACCEPTANCE AND PAYMENT BY THE APPLICANT OF SEVEN MILLION FIVE
HUNDRED FIFTY-EIGHT THOUSAND EIGHT HUNDRED SIXTY-THREE AND
NOIlOO DOLLARS ($7,558,863.00) FOR THE TRANSFER OF ONE HUNDRED
TWENTY FOUR THOUSAND NINE HUNDRED AND NINETY ONE (124,991)
SQUARE FEET AND FIFTY SEVEN (57) UNITS OF THE CITY'S TRANSFERABLE
DEVELOPMENT RIGHTS; PROVIDING FOR AN ADJUSTMENT OF THE BALANCE
OF TRANSFERABLE DEVELOPMENT RIGHTS FROM THE CITY'S BANK TO
REFLECT A DECREASE OF ONE HUNDRED TWENTY FOUR THOUSAND NINE
HUNDRED AND NINETY ONE (124,991) SQUARE FEET AND SEVENTY-TWO (72)
UNITS AS DESCRIBED IN EXHIBIT "A"; PROVIDING FOR A REPEALER;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, on September 18, 2003, the City Commission approved an application
submitted by Fortune, Beach LLC. ("Applicant") for site plan approval for property located at
17001 Collins Ave. a/k/a Jade on the Beach containing a transfer of one hundred twenty four
thousand nine hundred ninety-one square feet (124,991 sq. ft.) of development rights to be
purchased from the City's Development Rights Bank ("Bank") as established pursuant to
Ordinance 2003-179; and
WHEREAS, pursuant to Section 265-23 D 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
twenty-five million five hundred thousand dollars ($25,500,000) for the receiving site; for the
purpose of calculating the square foot value of the approved Transfer Development Rights; and,
WHEREAS, the City Commission shall consider the acceptance of seven million five
hundred fifty-eight thousand eight hundred sixty-three dollars ($7,558,863) for the transfer of
one hundred twenty four thousand nine hundred ninety-one square feet (124,991) from the Bank;
and
WHEREAS, the property receiving the transfer of development rights ("TDRs") is located at
The South 300 ft of the North 400 feet of Lot or Tract 1, Lying east of the State Highway A-I-A
(Collins Avenue) as shown on the plat entitled "Subdivision of Government Lot 6, in Section 2,
Township 52 South, Range 42 East, and Government Lots 1, 2, 4 and portions of Lots 5 and 6,
Section 11, Township 52 South, Range 42 East made by Tatum's Ocean Park Co., according to
the map or plat thereof, as recorded in Plat Book 10 at Page 64 of the Public Records of Miami-
Dade County, Florida. (hereinafter referred to as the "Receiving Site");
TDRs transfer to Jade on the Beach
1
NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Recitals. The foregoing recitals are true and correct and 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 of twenty-five million five hundred thousand dollars ($25,500,000)
("Appraised Value"), for the Receiving Site.
Section 3. Final Approval ofPavrnent for TDRs. Based on the Appraised Value set forth in
Section 2 hereinabove, the City Commission hereby approves the payment of seven million five
hundred fifty-eight thousand eight hundred sixty-three dollars ($7,558,863) for the transfer of
one hundred twenty-four thousand nine hundred ninety-one square feet (124,991sq.ft.) and fifty-
seven (57) units from the City's TDR's to the Receiving Site.
Section 4. Adiustment of Bank Balance, Upon acceptance of payment for the transfer of
development rights based on the Appraised Value, the Bank's balance will be adjusted to reflect
a decrease of one hundred twenty-four thousand nine hundred ninety-one square feet (124,991
sq, ft.) and seventy-two (72) units (as opposed to fifty-seven (57) units).
Section 5. Authority of the City Manager. The City Manager is hereby authorized to do all
things necessary to effectuate the transfer of development rights, including directing the City
Clerk to record such transfer and directing the Planning and Zoning Administrator to adjust the
Bank balances currently outlined on Exhibit "A".
Section 6. Repealer. Except for Exhibit "A," which will continue to be adjusted with the
latest dated Exhibit as controlling in each case, all ordinances or parts of ordinances in conflict
herewith, be and the same, are hereby repealed.
Section 7. Effective Date. This ordinance shall become effective ten (10) days after adoption
on second reading.
PASSED and ADOPTED on first reading this 13-1-h day of tJ l)n~VV\~c2V, 2003.
PASSED and ADOPTED on second reading this L.J.u.- day of ~ ' 2003
By:
ATTEST:,
dCN ~,~
Jane A. Hines, City Clerk
TDRs transfer to Jade on the Beach
2
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY:
~Q (J- ,
ynn M. Dani1heisser, City Attorney
VOTE: ~-o
Mayor Edelcup
Vice Mayor Goodman
Commissioner Brezin
Commissioner Iglesias
Commissioner Thaler
TDRs transfer to Jade on the Beach
Moved by: V, C e..- (Y\ f\l?c>R ~~h'\ A^J
Second by: CDWWY\( <;S:lhl\J'UC. &R ~_-z.I^,
~es _no
~es _no
vYes _no
Vves _no
-0es _no
3
OR BK 21964 PG 4884
LAST PAGE
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHTS BANK
Development riahts for City own property
Site
Transferable
square footage
Transferable
density
1, Golden Shores Park
2, Active Park
3, Gwen Margolis Park
4, Gilbert Samson Oceanfront Park
11,512 square feet
166,240 square feet
248,292 square feet
162,914 square feet
2 units
100 units
143 units
94 units
Total development rights in bank
588,958 square feet
339 units
.
Transferable Development Riaht Balance
Development
TOR
Balance
Sq.ft Units
588,958 339
TOR
Value
1. Fortune Beach LLC 17001 Collins Ave
TOR square feet approved 124,991
TOR units approved 57
TOR square foot and units deducted
Total TOR cost
124,991
72
Subtotal
463,967
267
$7,558,863
$7,558,863
EXHIBIT 'A'