HomeMy WebLinkAboutReso 2017-2656RESOLUTION NO. 2017- 2-(0 S�p
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, AMENDING RESOLUTION NO. 2015-2417 TO
REDUCE THE AMOUNT OF PAYMENT DUE FOR THE PURCHASE OF
TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") FOR THE
PROJECT LOCATED AT 18801 COLLINS AVENUE COMMONLY
KNOWN AS VARADERO BASED ON THE ASSIGNMENT OF PRIVATE
TDRS FROM CORNER HOUSE, LLC IN ACCORDANCE WITH
RESOLUTION NO. 2016-2511, ADOPTED ON JANUARY 21, 2016;
DIRECTING THE ZONING AND PLANNING ADMINISTRATOR TO
MAKE ALL NECESSARY ADJUSTMENTS TO THE CITY'S TDR BANK;
PROVIDING THE CITY MANAGER AND CITY ATTORNEY TO DO ALL
THINGS NECESSARY TO EFFECTUATE THIS RESOLUTION;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City Commission approved a site plan and a TDR application for the
project commonly known as Varadero located at 18801 Collins Avenue ("Project") pursuant to
Resolution Nos. 15-Z-156, 16-Z-158, adopted on November 19, 2015 and April 21, 2016; and
WHEREAS, the City Commission authorized the transfer of TDRs in the amount of Two
Hundred Eighty Three Thousand Four Hundred Eighty Five (283,485) square feet of floor area
and One Hundred Nineteen (119) dwelling units for the Project; and
WHEREAS, La Playa Beach Associates, LLC ("Applicant") is required to pay the City
the sum of $35,435,625.00 for the TDRS prior to the issuance of a building permit for the Project;
and
WHEREAS, the assignment of the private TDRS in the amount of 75,000 square feet of
floor area and 35 dwelling units from Corner House LLC to the Project shall reduce the total
amount due by the Applicant to $26,060,625.00 based on a credit of $9,375,000.00 for the private
TDRS.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Approval of Amendment of Resolution No. 2015-2497. The City Commission of
the City of Sunny Isles Beach, Florida hereby amends Resolution No. 2015-2497, adopted on
November 19, 2015, to reduce the amount due for the purchase of Transfer of Development Rights
("TDRS") by La Playa Associates, LLC from $35,435,625.00 to $26,060,625.00 based on a credit
of $9,375,000.00 for the assignment of private TDRS from Corner House LLC.
Section 2. Directive to Zoning Administrator. The Zoning Administrator is hereby directed
to adjust the City's TDR bank to reflect the credit provided to La Playa Associates, LLC.
Page 1 of 2
Reso Approving allocation of TDRS between Corner House and La Playa Varadero
Section 3. Authorityof Manager and the City Attorney. The City Manager and the City
Attorney are hereby authorized to do all things necessary to effectuate this Resolution.
Section 4. Effective Date. This Resolution shall become effective upon adoption.
PASSED and ADOPTED this 19th day of January 2017.
ATTEST:
Jane A. Aines, MMC, City Clerk
APPROVED4S TO FORM
AND IKGA SUFFICIENCY:
ttorney
Vote: 4-0 -1
Mayor Scholl
Vice Mayor Goldman
Commissioner Aelion
Commissioner Gatto
Commissioner Svechin
George,Y. Scholl, Mayor
Moved by: pY'
Seconded by:C�31^ry t� SWOEA.) �A-iTv
Page 2 of 2
V (Yes)
(No)
V(Yes)
(No)
(Yes)
(No)
VI(Yes)
(No)
1(Yes)
(No)
Reso Approving allocation of TDRs between Corner House and La Playa Varadero
RESOLUTION NO. 2016-2
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, APPROVING A DONATION
OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") IN THE
AMOUNT OF SEVENTY FIVE THOUSAND (75,000) SQUARE
FEET OF FLOOR AREA AND THIRTY FIVE (35) DWELLING
UNITS TO CORNER HOUSE LLC FOR THE PROPERTY
LOCATED AT 18801 COLLINS AVENUE; DIRECTING THE
ZONING ADMINISTRATOR OR DESIGNEE TO DONATE THE
AFOREMENTIONED TDRS FROM THE TDR BANK ACCOUNT
OWNED BY THE CITY; AUTHORIZING THE ADJUSTMENT
AND MODIFICATION OF THE TDR BANK ACCOUNT;
CONSENTING TO THE ASSIGNMENT OF TDRs; PROVIDING
THE CITY MANAGER AND THE CITY ATTORNEY WITH THE
AUTHORITY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; .PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, by Zoning Resolution No. 15-Z-156, adopted November 19, 2015, the City
Commission of the City of Sunny Isles Beach ( the "City Commission)") approved the zoning
application submitted by La Playa Beach Associated, LLC, a Delaware limited liability company
("La Playa") for the transfer of TDRs in the amount of 283,485 square feet of floor area and 119
dwelling units for the property located at 18801 Collins Avenue, Sunny Isles Beach, Florida
33160 (the "Property"); and
WHEREAS, the City Commission hereby agrees to donate to Corner House, LLC,
TDRs in the amount of Seventy Five Thousand (75,000) square feet of floor area and Thirty Five
(35) dwelling units for assignment to La Playa for the Property,; and
WHEREAS, the City's TDR Bank will be adjusted to reflect the donation of 75,000
square feet of floor area and 35 units to Corner House, LLC, for assignment to La Playa for the
Property ; and
WHEREAS; the Property receiving the TDRs is described on Exhibit '`A" attached
hereto; and
WHEREAS, Corner House, LLC shall have the right to assign the TDRs to La Playa for
the Property however if La Playa does not utilize the TDRs; La Playa shall have the right to
assign the TDRs if the TDRs are not designated for the Property; and
WHEREAS, the City Commission agrees to authorize the donation of the TDRs
contemplated herein as an incentive for development pursuant to its Charter and Home Rule
Authority.
Corner house LLC TDR Bank Pale 1 of 3
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Sectionl. 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 Donation of TDRs from the City to Corner House LLC As an
incentive for development, the City Commission hereby approves a donation of transfer of
development rights in the amount of the Seventy Five Thousand (75,000) and Thirty Five (35)
dwelling units to Corner House, LLC for assignment to La Playa for the Property, however, if La
Playa does not utilize the TDRs, La Playa shall have the right to assign the TDRs if the TDRs are
not designated for the Property.
Section 3. Directive to Zoning Administrator. The Zoning Administrator or their designee
is hereby directed to donate the transfer of development rights in the amount of Seventy Five
Thousand (75,000) square feet of floor area and Thirty Five (35) dwelling units to Corner House,
LLC for the property located at 18801 Collins Avenue.
Section 4. Consenting to the Assignment. The City Commission hereby consents to the
assignment of the TDRs to La Playa Beach Associated, LLC provided that Corner House; LLC
submits to the City Manager or designee a letter confirming the assignment of the TDRs.
Section 5. Authority of the City Manager and City Attornex. The City Manager and City
Attorney are hereby authorized to do all things necessary to effectuate this Resolution.
Section 6. Effective Date. This Resolution shall become effective upop adoption.
PASSED AND ADOPTED this 21 st day of January 201$.
Georg I. Scholl; Mayor
'ATTEST:
r
.Jane A. Hi s, MMC, City Clerk
Corner house LLC TDR Bank Pa -0e 2 of 3
Moved by:
Seconded by: OZ M&6J j,_AA.M". L�.y t slJ
Vote: .S-0
Mayor Scholl
t/ (Yes)
(No)
Vice Mayor Gatto
1/ (Yes)
(No)
Commissioner Aelion
(Yes)
(No)
Commissioner Levin
(Yes)
(No)
Commissioner Goldman
(Yes)
(No)
Comer house LLC TDR Bank Paae 3 of 3
EXHIBIT "A"
Legal Description: All of Tract "I", less the South 216.66 feet as measured at right
angles to the South line of said Tract "I", of AMENDED PLAT
NORTH BISCAYNE BEACH, according to the plat thereof, as
recorded in Plat Book 44, at Page 42, of the Public Records of
Miami -Dade County, Florida.
TOGETHER WITH
That parcel of land lying East of and bounded on the West by the
East line of said Tract "I", and bounded on the North by the Easterly
extension of the North line of said Tract "I", and bounded on the
East by the Erosion Control Line of the Atlantic Ocean, as recorded
in Plat Book 134 at Page 47, of said Public Records of Miami -Dade
County, Florida, and bounded on the South by the Easterly extension
of the North line of the South 216.66 feet, as measured at right
angles to the South line of said Tract "I" of AMENDED PLAT
NORTH BISCAYNE BEACH
AND
The South 200 feet of Tract "H", as measured at right angles to the
South line of said Tract "H", of AMENDED PLAT NORTH
BISCAYNE BEACH, according to the plat thereof, as recorded in
Plat Book 44, at Page 42, of the Public Records of Miami -Dade
County, Florida.
TOGETHER WITH
That parcel of land lying East of and bounded on the West by the
East line of said Tract "H", and bounded on the North by the Easterly
extension of the North line of said South 200 feet of Tract "H", as
measured at right angles to the South line of said Tract "H", and
bounded on the East by the Erosion Control Line of the Atlantic
Ocean, as recorded in Plat Book 134 at Page 47, of said Public
Records of Miami -Dade County, Florida, and bounded on the South
by the Easterly extension of the South line of said Tract "H" of
AMENDED PLAT NORTH BISCAYNE BEACH.
ADDRESS: 18801 Collins Avenue, Sunny Isles Beach, FL 33160
FOLIO: 31-2202-003-0120
1/1512016 Item Coversheet
Fal
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City of Sunny Isles Beach
n 18070 Collins Avenue
Sunny Isles Beach, Florida 33160
TLoa/P F� (305) 9470606 City Hall
°i 5.9 ��° (305) 949.3113 Fax
MEMORANDUM
TO: The Honorable Mayor and City Commission
FROM: Mayor George "Bud" Scholl
DATE: 1/21/2016
Donation of Transfer of Development Rights ("TDRs") in
RE: the amount of 75,000 square feet of floor area and 35
dwelling units to Corner House LLC for the Property
Located at 18801 Collins Avenue
RECOMMENDATION:
It is recommended that the City Commission approve the proposed
Resolution for the transfer of Development Rights ("TDRs") in the
amount of 75,000 square feet of floor area and 35 dwelling units to
Corner House LLC for the Property Located at 18801 Collins Avenue.
REASONS:
After extensive negotiations between the Property Owner, Corner
House, LLC, ("Corner House") and the City of Sunny Isles Beach
("City"), the parties have reached an agreement to include the
following key business terms:
1. City will donate 75,000[1] square feet of floor area and 35 dwelling
units to Corner House for the property located at 18801 Collins
Avenue ("Veradero").
2. The Property located at 18590 Collins Avenue will be donated to the
City for public purposes. The City will have full control and use of the
Property upon acceptance of the dedication of the Property.
3. Corner House will make a cash payment to the City for
improvements to the site in the amount of $437,500.00 within 30
months from the date of acceptance of the dedication.
4. The City will lease the property located at 15800 Collins Avenue to
Corner House or a related entity for $5,000.00 per month for up to 18
months at the end of the current lease to an entity owned by Dezer
Development Corp. ("Dezer"). However, this lease to Corner House
will only be exercised in the event active marketing and sales efforts
for the Ritz-Carlton Residences project are still ongoing at the end of
the current lease period to Dezer Properties.
Additionally, I am informing you that the principals of Corner House
are involved in the Ritz-Carlton Residences and are negotiating an
agreement with Dezer to lease the 15800 Collins Avenue sales office
for the remainder of the term allotted to Dezer by the City to market
the Ritz-Carlton project. The length of this remaining term is
approximately two and a half years. This would eliminate the need for
the principals of Corner House to build a sales center on the
oceanfront project site. Therefore, provided the Ritz-Carlton
httoJ/sunnvisles.novusagenda.com/agendaweb/CoverSheet.aspx?ltemlD=1837 1/2
1/15/2016
Item Coversheet
condominiums are still being actively marketed at the end of the
current Dezer lease, the City would agree to lease Corner House the
15800 Collins Avenue sales office for up to an additional 18 months for
$5,000.00 per month. A proposed Letter of Intent will be presented to
the City Commission for approval of the proposed lease agreement.
The above agreement is very favorable to the City for the following
reasons:
1. The Property located at 18590 Collins Avenue is strategically
important to the City given the City's prior acquisition of the Turnberry
site on Atlantic Boulevard. These two sites connect through the
overlap of the back alley.
2. The above agreement puts to rest the notion of a multistory building
at the entrance to a single family neighborhood.
3. The 71,500 TDRs that the City is donating for the property located
at 18801 Collins Avenue ("Veradero") is marginally higher than the
actual yield of the property's TDRs of 62,685. However, since the City
is able to receive the property located at 18590 Collins Avenue
immediately, the benefits to the City are high. This includes immediate
benefits to the surrounding communities, strategic assemblage of this
block of properties, and the avoidance of litigation.
respectfully request your approval of this Resolution.
[1] It should be noted that through the course of negotiations, the
Parties actually ended up at 71,500 TDRs. However, Corner House
wanted to show a net transaction of 75,000 TDRs. In order to realize
this objective, the City is being rebated the difference in cash value
(3,500 TDRs x $125 = $437,500).
ATTACHMENTS:
Description
Resolution
Letter of Intent
Item Number: 10.H.
hNn•//citnnviclac nnviicananria rnm/anonriawah/( nvprShpet.asDx?ltemID=1837 212
SUNNY tS<Fr City of Sunny Isles Beach
18070 Collins Avenue, Suite 250
i Sunny Isles Beach, Florida 33160
* * (305) 947-0606 City Hall
(305) 949-3113 Fax
(305) 947-2150 Building Department
CiT * F L O F `' (305) 947-5107 Fax
Y OF SUN F
MEMORANDUM
TO: The Honorable City Commission
FROM: Hans Ottinot, City Attorney
DATE: January 19, 2016
City Commission
George "Bud" Scholl, Mayor
Dana Goldman, Vice 1fayor
Isaac Aelion, Commissioner
Jeanette Gatto, Cormnissioner
Larisa Svechin, Commissioner
Christopher J. Russo City Manager
Hans Ottinot, City Attorney
Jane A. Hines, NIMC, City Clerk
RE: Amending TDR Resolution for the Project commonly known as Varadero
located at 18801 Collins Avenue
RECOMMENDATION:
This Resolution is presented for approval.
REASONS:
By Resolution No. 2016-2511, adopted on January 21, 2016, the City Commission approved an
assignment of private TDRs from Corner House, LLC to the project known as Varadero located
at 18801 Collins Avenue.
Essentially, the assignment of the TDRs has reduced the total amount due for the purchase of the
TDRs for the Varadero project from $35,435,625.00 to $26,060,625.00. A credit of
$9,375,000.00 is being provided to the Varadero project.
AWow:
Agenda Item
Date I —19- 1 V