HomeMy WebLinkAboutReso 2011-1797
RESOLUTION NO. 2011 - I,Cf 7
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, REMOVING THE USE RESTRICTION
IMPOSED ON THE TRANSFER OF DEVELOPMENT RIGHTS ("TDRs")
OWNED BY FORT APACHE MARINA, LLC ("FORT APACHE");
PROVIDING FOR A TRANSFER FEE; PROVIDING THE CITY MANAGER
WITH THE AUTHORITY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; PROVIDING FOR A REPEALER;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City created a TDR sub bank account for Fort Apache Marina, LLC, ("Fort
Apache") on or about October 16, 2005; and
WHEREAS, the sub bank account for Fort Apache currently has 34, 485 square feet and 19
units ofTDRs; and
WHEREAS, the TDRs owned by Fort Apache are required to be used strictly in conjunction
with an approved site plan on the west side of Collins A venue; and
WHEREAS, the City Commission wishes to remove the use restrictions imposed on the
TDRs owned by Fort Apache Marina, LLC, provided that a transfer fee is paid to the City.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Deleting Restriction on Use TDRs. The City Commission hereby deleted the use
restriction imposed on the TDRs owned by Fort Apache Marina, LLC. in accordance with Resolution
Nos. 2005-754, 2005-755, and 2005-784 ("Resolutions ").
Section 2. Transfer Fee. As a condition precedent of deleting the use restriction set forth in the
Resolutions, Fort Apache shall pay the City a minimum fee of$15.00 per square feet from the total
amount of TDRs owned by Fort Apache pursuant to Section 265-23 (G) of the City Code. The
transfer fee shall be $517,275.00 based on the ownership of34, 485 square feet ofTDRs owned by
Fort Apache.
Section 3. Authorization of the City Manager. The City Manager is hereby authorized to do all
things to effective this Resolution.
Section 4. Repealer. The use restrictions imposed pursuant to the Resolutions on the TDRs
owned by Fort Apache is hereby terminated. The Resolution shall not apply to any other TDR bank
account.
Section 5.
Effective Date. This Resolution will become effective upon adoption
Page I of2
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PASSED AND ADOPTED this 9th day of November, 2011.
ATTEST:
~M.~~
Jane A. Hines, CMC, City Clerk
APPROVED AS TO FORM
ANI?" G SUFFICIENCY:
Vote: S-o
Mayor Edelcup
Vice Mayor Thaler
Commissioner Brezin
Commissioner Gatto
Commissioner Scholl
Page 2 of2
~(Yes)
~(Yes)
~(Yes)
~(Yes)
---L(Yes)
Moved by: .~ { (- t... vY\~Q-Y 1H'AL~
Seconded by: ~ ~VV\.wU llJ.;~ ~c.\-\ 0 L L
_(No)
(No)
(No)
(No)
_(No)
RESOLUTION NO. 2005- 75 '-I
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, ACCEPTING THE CONVEYANCE OF
APPROXIMATELY 2.417 ACRES OF REAL PROPERTY, LEGALLY
DESCRIBED IN EXHIBIT "A", OWNED BY PORTO BELLAGIO
PARTNERS, LLC, IN ACCORDANCE WITH AND SUBJECT TO ALL OF
THE APPLICABLE PROVISIONS OF THE CITY CODE AND SECTION
265-23 OF THE CITY'S LAND DEVELOPMENT REGULATIONS ("LDR's")
RELATING TO TRANSFERS OF DEVELOPMENT RIGHTS ("TDR's"),
INCLUDING BUT NOT LIMITED TO SECTIONS 265-23.3 (c) AND (e) AND
SECTION 265-23.4(c);FURTHER IMPOSING CERTAIN CONDITIONS
PRIOR TO THE CITY'S ACCEPTANCE OF THE PROPERTY AND
SEVERANCE OF THE TDR'S; FURTHER AUTHORIZING THE MAYOR
TO EXECUTE SUCH OTHER DOCUMENTS AND AGREEMENTS AS MAY
BE DETERMINED BY THE CITY ATTORNEY TO BE NECESSARY TO
CONSUMMATE THE CONVEYANCE OF THE PROPERTY TO THE CITY,
SEVER DEVELOPMENT RIGHTS FROM THE PROPERTY AND DEPOSIT
SAME TO THE CREDIT OF THE APPLICANT IN THE TDR BANK,
SUBSEQUENT WITHDRAWAL OF SAID DEVELOPMENT RIGHTS AT
THE REQUEST OF AND FOR THE BENEFIT OF THE APPLICANT
DURING THE FIVE YEAR PERIOD COMMENCING WIm THE PASSAGE
OF THIS RESOLUTION, AND RECORDATION OF DOCUMENTATION;
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Section 265-23 of the City's Land Development Regulations ("LDR's") (the
"TDR Ordinance") provides for the transfer of development rights from a sender site to a receiver
site, in accordance with the provisions set forth therein; and
WHEREAS, the TDR Ordinance provides that any property in the City, upon the approval of
the City Commission, in its sole discretion, after a public hearing, may be eligible as a sending site,
subject to the terms, conditions and limitations ofthis Ordinance; and
WHEREAS, if the Public Enhancement Bonus under the TDR Ordinance (which provides
that certain properties may be dedicated to and accepted by the City with a grant ofTDR's to the
applicant of80 dwelling units per acre and a 3.75 F.A.R.) is not utilized, anyTDR's granted shall be
calculated based on the underlining zoning; and
WHEREAS, Porto Bellagio partners, LLC ("Applicant"), pursuant to the provisions of the
TDR Ordinance relating to the transfer of such properties to the City, has submitted a complete
application to the City requesting approval of conveyance of the property legally described in Exhibit
"A", as referred to in this Resolution as "Tract 'D'" remainder parcel, owned by Porto Bellagio
Partners, LLC, and the transfer of the development rights from the property to the TDR Bank; and
R2005-Porto Bellagio Conveyance Alternate
Page I of5
-- -- - - - --
WHEREAS, staff has reviewed the Application, prepared written findings and
recommendations, and advertised the matter for a public hearing in accordance with the notice and
hearing requirements required by the LDR's for zoning applications; and
WHEREAS, the City Commission, after a public hearing and consideration of the
recommendations of staff, has determined, subject to all of the applicable requirements and
conditions of the TDR Ordinance, that the proposed sending site is acceptable for use by the City in
accordance with the expressed intent of the TDR Ordinance, subject to certain additional conditions
as set forth herein; and
WHEREAS, the applicant acknowledges that upon expiration of5 years from the date ofthe
City Commission action approving this transfer, its rights to utilize and/or convey any of the
transferred development rights granted hereunder shall expire and become null and void.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Acceptance of Conveyance of Tract "D" Remainder Parcel. That the City accepts the
conveyance of approximately 2.417 acres (:i:105,289 square feet) of real property, legally described
as Tract "D" in Exhibit "A" attached and made a part hereof, owned by Porto Bellagio Partners,
LLC, a Delaware Limited Liability Company, as park land and the transfer ofthe development rights
from the property to the Applicant's account in the TDR Bank in the amount of2.5 F.A.R. (263,222
square feet) and 60 dwelling units per acre (145 dwelling units), in accordance with and subject to all
applicable provisions ofthe City Code and Section 265-23 of the City's LDR's related to the Transfer
of Development Rights, to be used in accordance with the expressed intent of the TDR Ordinance,
including, but not limited to the following provisions:
Section 265-23.3, entitled "Establishment of Sending and Receiving Sites; TDR's
Transferred; Fees,"
(c)"TDR's Transferred from Privately-Owned Sender Sites," which sets forth
provisions for the Application Process, Public Hearing, Conveyance of Privately
Owned Sender Sites to City, Development Limitations on Privately Owned Sender
Sites and Limitation on use ofTDR's from Approved Sender Sites.
(e) "Fees," which provides that applicant shall be responsible for all applicable
application fees and consultant fees related to the application review.
Section 265-23.4, entitled "Calculations," (c) "Transferable Development Rights
from Privately Owned Sender Sites," which, inter alia sets forth the formula for
calculating floor area ratio and density on the site based on the existing zoning, and
that, notwithstanding anything to the contrary, the property owner tendering the site
shall have up to five (5) years from the date ofthe City Commission action approving
this transfer to utilize such development rights in accordance with Section 3c(5) of
the TDR Ordinance.
R2005-Porto Bellagio Conveyance Alternate
Page 2 of5
Section 2. Conditions for said Acceptance. Acceptance of said conveyance is further conditioned
upon the following: (1) Applicant shall indemnify, protect and hold the City harmless from any actions
or claims filed against the City as a result or arising from the approval of the property or the transfer of
the development rights to the TDR Bank, including, without limitation, providing an executed
environmental indemnity and hold harmless agreement in a form and substance reasonably acceptable to
the City Attorney; (2) Applicant shall deliver to the City good, marketable and insurable title, free and
clear of all liens and encumbrances, unless any of the items are waived in writing by the City Attorney
and the City Manager, and an acceptable title policy; (3) Applicant shall deliver prior to the closing an
executed easement agreement for the access easement over, under, through a portion of Tracts "A" and
"D" to the water point; (4) The Special Warranty Deed conveying the property to the City shall be
recorded in the Public Records of Miami-Dade County, Florida, prior to the transfer of development
rights from the property to the TDR Bank which transfer shall occur immediately thereafter; and subj ect
to compliance with the following closing procedures: (a) closing shall occur on or before 30 days from
January 13, 2005, unless otherwise extended by the City Attorney; (b) prior to closing, Applicant shall
submit an up to date survey of the property certified to the City dated subsequent to January 13, 2005,
which shall be further updated, if necessary so that the City shall have a certified survey dated no later
than 30 days prior to the recording of the Deed; encroachments, or easements on the property disclosed
by the survey shall constitute title defects unless waived by the City Attorney; (c) Applicant shall
provide: certification from City that no outstanding code violations or open permits exist in connection
with the property; a Certificate of Resolutions and Agreements from Miami-Dade County on the
property and immediately adjacent properties; applicable corporate documents as required by, and in a
form satisfactory to, the City Attorney; a statement as to any unrecorded obligations or easements; an
executed No Lien Affidavit and a Non-Foreign Affidavit; and any other documents reasonably necessary
or advisable to comply with existing statutory and code provisions; evidence that taxes, assessments,
water and sewer charges, waste fee and fire protection charges, if applicable, have been paid in full to
the date of the closing, or provision for sufficient escrow to assure payment thereof when due; (d)
Applicant shall prepare and provide all closing documents, in a form acceptable to the City Attorney;
and (4) After closing, Applicant shall deliver to City the Title Insurance Policy insuring, at minimum,
that amount of the value reflected by the Miami-Dade County Property Appraiser's Office for tax
purposes; (5) Execution by Applicant and City of any other documents as deemed reasonably
appropriate by the City Attorney or the Applicant in order to effectuate the transfer of the property to the
City and for the City to evidence the transfer of the above-noted TDR's to the Applicant's account in the
TDR Bank. Any disagreement between the parties regarding the reasonableness of the request for such
documents shall be determined by the City Commission; (6) The Applicant, as owner of Tract "B" of
RK Marina Apartments, according to Plat Book 157, Page 70, Public Records of Miami-Dade County,
Florida, agrees to sever and extinguish all but 4.56 acres of density and intensity of Tract "B".
Section 3. Mavor Authorized to Execute. The Mayor is hereby authorized to execute such other
documents and agreements as may be determined by the City Attorney to be necessary to consummate
the conveyance of the property to the City, sever the development rights from the property and deposit
them to the credit of the Applicant in the City TDR Bank and subsequent withdrawal(s) of those
development rights from the TDR Bank at the request of and for the benefit of the Applicant and during
the five year term commencing with the date ofthe passage of this Resolution, in accordance with the
provisions of the TDR Ordinance and in a form acceptable to the City Attorney; and further, the Mayor
R200S-Porto Bellagio Conveyance Alternate.Doc
Page 3 of 5
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is authorized to take whatever action is required to effectuate the intent of this approval in accordance
with the provisions of the TDR Ordinance.
Section 4.
Effective Date. This Resolution is effective upon adoption.
PASSED AND ADOPTED this 13th day of January 2005.
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APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
Vote: 5-0
Moved by: fY\A-Yo~ ~1-1 ~U e-
Seconded byCoh\~l ~ ~ I 0.0 ~ J:6Lct:s:I1t S
Mayor Edelcup
Vice Mayor Thaler
Commissioner Brezin
Commissioner Goodman
Commissioner Iglesias
v (Yes)
V"(Yes)
V(Yes)
V (Yes)
E(Yes)
_(No)
_(No)
_(No)
_(No)
_(No)
R2005-Porto Bellagio Conveyance Alternate
Page 4 of 5
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Exhibit "A"
Legal Description
Tract "D" of RK Marina Apartments, Plat Book 157, Page 70, less ' at
portion of said Tract "D" being more particular described as folIo s:
Commence at the Northeast corner of Lot 19 of SOU! SHORE
ESTA TES as recorded in Plat Book 52 at Page 69 of the Pub c Records of
Miami-Dade County, Florida, the following (10) ten cou es being along
the exterior boundary of said Tract "D"; 1) thence N 90' '00' W along the
North line of said Lot 19 for 100.00 feet to the Northvv. st corner of said Lot
19; 2) thence S 71 '35'52 W for 15.37 feet to the oint of Beginning: 3)
thence continue S 71 '35'52' W for 24.79 feet; 4) enceN 57'55'43' W for
38.59 feet; 5) thence N 57'29' 11 ' W for 53.41 et; 6) thence N 75' 51 '27'
W for 54.54 feet; 7) thence N 37' 17'58' for 6.69 feet; 8) thence N
13'57'37' W for 10.64 feet; 9) thence N 0'00'00' E for 4.31 feet; 10)
thence N 54'09'50' E for 83.72 feet t a point on a non-tangent curve
concaved to the southwest having radius of 160,000 feet and chord
bearing of S 42' 5 5' 24' E; thence S theasterly along the arc of said curve
loading to the right through ace ral angle of 41 ' 40' 54' for a distance of
116.40 feet to the Point of Be . ning.
R2005-Porto Bellagio Conveyance A Item ate Page 5 of 5
RESOLUTION NO. 2005-J....S..S
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE
TRANSFER OF DEVELOPMENT RIGHTS ("TDRS") FROM THE
PROPERTY LEGALLY DESCRIBED IN EXHIBIT "A", OWNED BY
PORTO BELLAGIO PARTNERS, LLC, IN THE AMOUNT OF 2.5
F.A.R. (263,222 SQUARE FEET) AND 60 DWELLING UNITS PER
ACRE (145 DWELLING UNITS) TO THE TDR BANK TO COMPLY
WITH THE REQUIREMENTS OF RESOLUTION NO. '2()0~ 1 ~</;
DIRECTING THE PLANNING AND ZONING ADMINISTRATOR OR
DESIGNEE TO TRANSFER THE TDRS; PROVIDING THE CITY
MANAGER WITH THE AUTHORITY TO DO ALL THINGS
NECESSARY TO EFFECTUATE THIS RESOLUTION; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Porto Bellagio partners LLC. ("Applicant") has conveyed approximately 2.41 7
acres of real property legally described as Exhibit "A", owned by Porto Bellagio Partners, LLC,
Sunny Isles Beach, Florida to the City; and
WHEREAS, the City has agreed to transfer in accordance with its Land Development
Regulations a certain amount ofTDRs to the account established in the TDR Bank for Porto Bellagio
Partners LLC.; and
WHEREAS, the City Commission requires the Applicant to comply with the requirements of
Resolution No. ;;xx)S-~S4
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Authorizin!! the Transfer. The City Commission hereby authorizes the transfer of
the development rights from the property legally described in Exhibit "A", owned by Porto Bellagio
Partners, LLC, in the amount of 2.5 F.A.R. (263,222 Square Feet) and 60 dwelling units per acre
(145 Dwelling Units) to the TDR Bank to comply with the requirements of Resolution No.
fifty percent (50%) of which shall be transferred to the account of the City of Sunny Isles Beach.
Section 2. Directive to the Plannin!! and Zonin!! Administrator. The Planning and Zoning
Administrator or designee is hereby directed to transfer the development rights from the property to
the TDR Bank.
Section 3. Authority of the City Mana!!er. The City Manager is hereby authorized to do all
things necessary to effectuate this resolution.
Section 4.
Effective Date. This Resolution shall be effective upon adoption.
R2005-Porto Bellagio Tdr Transfer Alternate
Page 1 of3
PASSED AND ADOPTED this 13th day of January 2005.
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
~A Q ~,
L M. Dalliiheisser, City Attorney
Vote: 5-c
Mayor Edelcup
Vice Mayor Thaler
Commissioner Brezin
Commissioner Goodman
Commissioner Iglesias
~(Yes)
V"(Y es)
V (Yes)
V (Yes)
t/(Yes)
R2005.Porto Bellagio Tdr Transfer Alternate
Page 2 of3
Moved by: en AYo R.. ~8-<...U P
Seconded by: Cnm.h'\\ ~\O~1t. :!,C.LU'Ilt-('
(No)
_(No)
_(No)
(No)
_(No)
Exhibit "A"
Legal Description
Tract "D" of RK Marina Apartments, Plat Book 157, Page 70, less that
portion of said Tract "D" being more particular described as follows:
Commence at the Northeast comer of Lot 19 of SOUTH SHORE
ESTATES as recorded in Plat Book 52 at Page 69 of the Public Records
of Miami-Dade County, Florida, the following (10) ten courses being
along the exterior boundary of said Tract "D"; 1) thence N 90'00'00' W
along the North line of said Lot 19 for 100.00 feet to the Northwest
comer of said Lot 19; 2) thence S 71 '35'52 W for 15.37 feet to the Point
of Beginning: 3) thence continue S 71 '35'52' W for 24.79 feet; 4)
thence N 57'55'43' W for 38.59 feet; 5) thence N 57'29'11' W for 53.41
feet; 6) thence N 75'51'27' W for 54.54 feet; 7) thence N 37'17'58' W
for 6.69 feet; 8) thence N 13'57'37' W for 10.84 feet; 9) thence N
00'00'00' E for 4.31 feet; 10) thence N 84'09'50' E for 83.72 feet to a
point on a non-tangent curve concaved to the southwest having a radius
of 160.00 feet and chord bearing of S 42'55'24' E; thence Southeasterly
along the arc of said curve leading to the right through a central angle of
41 '40' 54' for a distance of 116.40 feet to the Point of Beginning.
R200S-Pono Belbgio Correct Scrivener's Error.Doc Page 3 of 3
11111111111111111111111111111111111111111111
RESOLUTION NO. 2005-2&:1
CFN 2005R0555613
OR Bk 23426 P9S 4166 - 4167; (2P9!
RECORDED 06/01/2005 09:38:32
HARVEY RUVIN, CLERK OF COURT
MIAMI-DADE COUNTY, FLORIDA
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY
ISLES BEACH, FLORIDA, AUTHORIZING THE TRANSFER OF TWO (2)
ACRES OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRs") EQUAL
TO 217,800 SQUARE FEET AND 120 UNITS FROM TRACT 'B' OF RK
MARINA APARTMENTS PLAT BOOK 157, PAGE 70 AND DEPOSIT INTO
THE TRANSFER DEVELOPMENT RIGHTS BANK OF PORTO BELLAGIO
PARTNERS LLC. TO COMPLY WITH RESOLUTION NO.2005 -754 TO BE
USED STRICTLY IN CONJUNCTION WITH AN APPROVED SITE PLAN
ON THE WEST SIDE OF COLLINS AVENUE AND UPON APPROVAL OF
THE CITY COMMISSION; DIRECTING THE PLANNING AND ZONING
ADMINISTRATOR OR DESIGNEE TO TRANSFER THE TDRS IN
ACCORDANCE WITH RESOLUTION NO. 2005-754; PROVIDING THE
CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS
NECESSARY TO EFFECTUATE TmS RESOLUTION; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, pursuant to a waiver / extinguishment of development rights agreement, Porto
Bellagio Partners, LLC agreed to sever and extinguish all but 4.56 acres of density and intensity
associated with Tract "B" and as more particularly described in Exhibit "2" of Resolution 2005-756
("Property") which was part the transaction described in Resolution No. 2005-754; and
WHEREAS, the Commission now wishes to allow the TORs associated with the two (2)
remaining acres related to this Property to be deposited into the TOR bank account of Porto Bellagio
Partners LLC; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Authorizin!! the Transfer. The City Commission hereby authorizes the transfer of,
two (2) acres worth of transfer of development rights from the property legally described in Exhibit
"2" to Resolution 2005-756 in the amount of217,800 square feet and 120 units to the account of
Porto Bellagio Partners LLC to be used strictly in conjunction with an approved site plan on the west
side of Collins A venue and upon the approval of the City Commission.
Section 2. Direction of the Plannin!! aDd ZOOiD!! Administrator. The Planning and Zoning
Administrator or designee is hereby directed to transfer the development rights from the property to
the TOR Bank.
Section 3. Authoritv of the City Mana!!er. The City Manager is hereby authorized to do all
things necessary to effectuate this resolution.
Section 4.
Effective Date. This Resolution shall be effective upon adoption.
TDR Transfer 2 Bellagio Resolution
OR BK 23426 PG 4167
LAST PAGE
PASSED AND ADOPTED this y.J-V-. day of 0 ~ 2005.
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APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
4t0& 4..
L M. Dannhelsser, CIty Attorney
Vote: 5-D
Mayor Edelcup
Vice Mayor Thaler
Commissioner Brezin
Commissioner Goodman
Commissioner Iglesias
TDR Transfer 2 Bellagio Resolution
Moved by: Cn~~ GCOCW\-MJ
Seconded by: Co~ T 6L~ I~.s
\./"(Yes)
V1:Y es)
_l..1Y es)
ViY es)
-.E1Yes)
_(No)
_(No)
_(No)
_(No)
_(No)
2
TO:
FROM:
DATE:
RE:
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
Ci(y Commission
Norman S. Edelcup, Mayor
Lewis J. Thaler, Vice Mayor
Isaac Aetion, Commissioner
Jeanette Gatto, Commirsioner
George "Bud" Scholl, Commirsioner
(305) 947-0606 City Hall
(305) 949-3113 Fax
(305) 947-2150 Building Department
(305) 947-5107 Fax
Alan J. Cohen, City Manager
Hans Ottinot, City Attorney
Jane A. Hines, CMC, City Clerk
MEMORANDUM
The Honorable City com~~
Hans Ottinot, City Attorney~ '-I
November 9,2011
Removing the Use Restrictions Imposed on the TDRs Owned by Fort Apache Marina,
LLe
RECOMMENDATION:
This Resolution is presented for your consideration.
REASONS:
The City of Sunny Isles Beach created a Transfer of Development Rights ("TDR") sub bank
account for Fort Apache Marina, LLC ("Fort Apache") on or about October 16,2005. The sub
bank account for Fort Apache currently has 34,485 square feet and 19 units of TDRs. However,
the TDRs owned by Fort Apache are currently required to be used in strict conformity with an
approved site plan on the west side of Collins Avenue, in accordance with Resolution Nos. 2005-
754, 2005-755, and 2005-784 ("Resolutions").
The City desires to remove the use restrictions imposed on the TDRs owned by Fort Apache,
provided that a transfer fee is paid to the City. As a condition precedent of deleting the use
restriction set forth in the Resolutions, Fort Apache shall pay the City a minimum fee of $15.00
per square feet from the total amount of TDRs owned by Fort Apache pursuant to Section 265-
23(0) of the City Code. The transfer fee shall be Five Hundred Seventeen Thousand Two
Hundred Seventy Five Dollars ($517,275.00) based on the ownership of 34,485 square feet of
TDRs owned by Fort Apache. The minimum fee is based on the current economic conditions of
current real estate market for development of new properties. The City reserves the right to
change the minimum fee.
/ Attachment
~~b-OtV:
Agenda ltem Lf b
Date 1\ -q- 11