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Home My WebLink AboutOrdinance 2003-188 , ...- "" · 'nm 1Ill111l11 mil nm 111111111I111I1111 ORDINANCE NO. 2003 -1E2B AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, PROVIDING FOR THE ACCEPTANCE OF THE APPRAISED LAND VALUE OF ONE MILLION TWENTY-EIGHT THOUSAND AND NO/I00 DOLLARS ($1,028,000) FOR THE PROPERTY LOCATED AT 17555 ATLANTIC BLVD. AfKJA KING DAVID; PROVIDING FOR THE ACCEPTANCE AND PAYMENT BY THE APPLICANT OF ONE HUNDRED SIXTY THOUSAND NINE HUNDRED TWENTY DOLLARS ($160,920) FOR THE TRANSFER OF EIGHTEEN THOUSAND (18,000) SQUARE FEET AND EIGHTEEN (18) UNITS FROM THE CITY'S DEVELOPMENT RIGHTS; PROVIDING FOR AN ADJUSTMENT OF THE BALANCE OF TRANSFERABLE DEVELOPMENT RIGHTS FROM THE CITY'S BANK TO REFLECT A DECREASE OF THIRTY ONE THOUSAND TWO HUNDRED SIXTY- SIX (31,266) SQUARE FEET AND EIGHTEEN (18) UNITS AS DESCRIBED IN EXHIBIT 'A'; PROVIDING FOR AN ADJUSTMENT OF THE BALANCE OF DEVELOPMENT RIGHTS AVAILABLE; PROVIDING FOR A REPEALER; PROVIDING FOR AN EFFECTIVE DATE. l: FI-'4 2()IO..j,.I:~:OO:3~:~7'8B [il: bl: 21 '~n: 1:':3:; :?067 - 2070: :: 4'1l!1''') m:J D~:I)EI) (11/15/2004 :l:l: 2::: : o:~; Hfl~'VE'r' RlIVW, CLERK OF COURT MIAMI-DADE CDUHTY, FLDRIDA WHEREAS, on February 20, 2003, S&G of Miami Beach, Inc. ("Applicant") submitted an application for site plan approval located at 17555 Atlantic Blvd. aIkIa King David containing a transfer of eighteen thousand (18,000) square feet of development rights (''TOR'S'') 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 Land Development Regulations, the City Commission shall consider the acceptance of the appraised land value in the amount of one million twenty-eight thousand dollars ($1,028,000) for the receiving site; for the purpose of calculating the square foot value of the approved Transfer Development Right, and WHEREAS, the City Commission shall consider the acceptance of one hundred-sixty thousand nine hundred twenty dollars ($160,920) for the transfer of eighteen thousand square feet (18,000) from the Bank, and WHEREAS, the property receiving the transfer of development rights is located at 17555 Atlantic Blvd, a/kIa King David more particularly described as: All of Lots 5, 6, and 7, Block 9, Sunny Isles Shores Section "B", according to the plat thereof as recorded in Plat book 65 Page 47 of the public records of Miami-Dade County, Florida (hereinafter referred to as Receiving Site, NOW THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: TORs Transfer to King David Page 1 of 3 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 appraise land value of one million twenty-eight thousand ($1,028,000) dollars ("Appraised Value"), for the Receiving Site, Section 3. Final Approval of Payment for TDR's. Based on the Appraised Value set forth in Section 2 hereinabove, the City Commission hereby approves the payment of one hundred-sixty thousand nine hundred twenty ($160,920) dollars for the transfer of eighteen thousand (18,000) square feet and eighteen (18) units from the City's TDR's to the Receiving Site. Section 4. Adjustment of Bank Balance. Upon acceptance of payment for the TDR's based on the Appraised Value, the Bank's balance will be adjusted to reflect a decrease of thirty one thousand two hundred sixty-six (31,266) square feet and eighteen (18) units (as opposed to eighteen thousand (18,000) square feet. Section 5. Authority of the City Manager The City Manager is hereby authorized to do all things necessary to effectuate the transfer of 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. 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 the adoption on the second reading. PASSED and ADOPTED on first reading this I~;#' day of .Mooe~beY 2003, PASSED and ADOPTED on second reading this 4+~ day of J)<t-CcJY\~003, #".. ..",~{ 42'''"'-.. A TTEST:(. ~ . ,." ...",:;- .J '\ l, ',1,/ \. (j' . .\,.~ , ~ .. TORs Transfer to King David Page 2 of 3 APPROVED AS TO FORM AND LEGAL SUFFICIENCY: M. Dannheisser, City Attorney VOTE: 5--0 Mayor Edelcup Vice Mayor Goodman Commissioner Brezin Commissioner Iglesias Commissioner Thaler TORs Transfer to King David Moved by: (_ {\tv\;h'\\<'~\ [)J\)1 Jil\{-f\L~ Seconded by: C () 1n1Y\\<~l t'l ~ ~ ~2- \ rJ 0es _no ~yes_no vies _no ~yes no ~yes _no Page 3 of 3 OR BK 21973 PG 2070 L,AST PAGE CITY OF SUNNY ISLES BEACH TRANSFER DEVELOPMENT RIGHTS BANK Development rights 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 Right 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 2, King David 17555 Atlantic Blvd. TOR square feet approved 18,000 TOR units approved 18 TOR square foot and units deducted Total TOR cost 31,266 18 Subtotal 432,701 249 $160,920 $7,719,783 EXHIBIT IAI