HomeMy WebLinkAboutResolution Zoning 11-Z-123
RESOLUTION NO. ll-Z -123
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, ("CITY") APPROVING THE
ZONING APPLICATION SUBMITTED BY GILCO REALTY, LC
(THE "APPLICANT"), (Z2011-04), PURSUANT TO SECTION 265-
18 OF THE LAND DEVELOPMENT REGULATIONS OF THE
CITY OF SUNNY ISLES BEACH ("LDRS"), TO PERMIT THE
DEVELOPMENT OF "PORSCHE DESIGN RESIDENCES", A 57-
STORY CONDOMINIUM BUILDING WITH 132 UNITS, ON THE
PROPERTY LOCA TED AT 18555 COLLINS A VENUE;
PROVIDING THE CITY MANAGER WITH THE AUTHORITY TO
DO ALL THINGS NECESSARY TO EFFECTUATE THIS
RESOLUTION; PROVIDING FOR SEVERABILITY; PROVIDING
FOR REPEALER; PROVIDING FOR AN EFFECTIVE DATE.
I. RECIT ALS
WHEREAS, OILCO Realty, LC a/k/a 18555 Developers LLC (the "Applicant")
submitted a zoning application to the City of Sunny Isles Beach. Florida (the "Application")
(Z20 11-04), requesting the following:
1. Pursuant to Section 265-18 of the City of Sunny Isles Beach Land Development
Regulations, the Applicant is requesting a site plan approval for a 57 story building with
132 condominium units.
2. Pursuant to Section 265-23 of the City of Sunny Isles Beach Land Development
Regulations, the Applicant is requesting to transfer 115,391 square feet of development
rights and 53 units. An adjustment to be made for a decrease of 115,391 square feet and
53 units from the City's Transfer of Development Rights Bank or TOR bank accounts
designated for private owners.
LEGAL: All of Tract "L" less the south 200 feet thereof and less the north 1 00 feet thereot~
of AMENDED Plat of North Biscayne Beach, PB 44 Page 42
ADDRESS: 18555 Collins Avenue
WHEREAS, on November 17, 2011, the City Commission conducted a public hearing
on the Application; and
WHEREAS, the public hearing of the City Commission was advertised and held as
required by law, all interested parties concerned in the matter were heard, and due and proper
consideration was given to the matter and to the positive recommendation contained in the City's
Community Development Department Review Report; and
WHEREAS, notice was provided to all interested parties regarding the Application; and
II-Z.123 18555 Collins Avenue
WHEREAS, the City Commission reviewed the Application, the written and oral
recommendations of the Community Development Department and all outside consultants who
render reports with respect to the Application, including the recommended conditions, and finds
substantial competent evidence to support a showing by the Applicant that the requests for the
transfer of development rights and for site plan approval are in compliance with the Land
Development Regulations and the Comprehensive Master Plan of the City and maintain the basic
intent and purpose of the zoning, subdivision or other land use regulations, which is to protect
the general welfare of the public, particularly as it affects the stability and appearance of the
community; and, further finds that said requests should be granted, subject to the conditions
described herein.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
II. INCORPORATION OF RECITALS
All recitals above are incorporated into the body of this Resolution as if same were fully set forth
herein.
III. APPROVAL
A. The Applicant's request for approval of the site plan submitted for the Project known as
"Porsche Design Residences" is hereby granted and said site plan is hereby approved
subject to all conditions set forth in Section IV below.
B. The Applicant's request to transfer 34,485 square feet of development rights and 19 units
from the TDR bank account owned by Fort Apache Marina, LLC, pursuant to Resolution
No. 2011-1808 is hereby approved.
C. The Applicant's request to transfer 81,000 square feet of development rights and 42 units
from the City's TDR bank account as a donation pursuant to Resolution No. 2011-1811 is
hereby approved.
IV. CONDITIONS
A. CONDITIONS TO BE COMPLETED BEFORE BELOW GRADE OR BUILDING
PERMITS, INCLUDING FOUNDATION PERMITS, ARE ISSUED OR
CONSTRUCTION OF ANY NATURE IS COMMENCED.
1. A Miami-Dade County tree removal permit must be secured and attached to the
landscape permit application prior to demolition.
2. Landscape Plan must be revised to show that palms along Collins A venue must be at
least 12' clear-wood Medjool Palms to be consistent with the City Streetscape Master
Plan.
11-2-123 18555 Collins Avenue
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3. That the Applicant provide the Lighting/Photometric Plan prior to building permit.
4. That the Applicant provide the Signage and Pavement Marking Plan prior to building
permi t.
5. The Applicant shall submit any and all other documentation and/or payments required by
the City to effectuate the purchase of transfer of development rights from the City or
Private Owners and further procedures being developed to effectuate this program,
notwithstanding the fact that such procedures may be formally adopted subsequent to this
particular approval, prior to submitting for building permit.
6. Upon the submittal of an application for a building permit, the plans submitted shall be
approved by the Community Development Department and be consistent with the
specific site plan approved by the City Commission on November 17, 2011. Plans shall
include all the required elements of the site plan pursuant to the City's Land Development
Regulations and recommendations. Should compliance with recommendations result in a
change that would not be considered "minor" in accordance with Section 265-18 of the
City Code; the Applicant shall be required to obtain another approval of the City
Commission.
7. That a plot plan be submitted to the Community Development Department for their
review. The plot plan shall include all easements proffered by the Applicant to the City,
including but not limited to (i) beach access easements exactly as shown on the Site Plan
and as represented by the Applicant to the City Commission (the "Beach Access
Easement") (ii) a ten-foot (l0') landscaping streetscape easement as per the City
Streetscape Master Plan (the "Streetscape Easement"), and (iii) the 10,000 square foot
public oceanfront park (the "Oceanfront Park") and, if applicable, other amenities. The
plot plan shall show the type and size of plant materials, which shall be in compliance
with the City's Streetscape Master Plan.
8. That the Applicant submit a Declaration of Restrictions in recordable form acceptable to
the Community Development Department and acceptable to the City Attorney prior to
submittal for an application for building permit, which proffers: (i) the beach access
easements; landscaping; easements over, across, under and through the property; (ii)
including the 10-foot landscaping streetscape easement as per Streetscape Master Plan;
and, (iii) a 10,000 square foot Public Oceanfront Park. Maintenance for such easement
parcels proffered to the City, shall be the responsibility of the Applicant, including 24-
hour valet parking services for owners and guests, among other things.
9. That the Applicant must present evidence of performance to the Community
Development Department of the obligation required to qualify for the Floor Area Ratio
bonus. In the event that the Applicant has done so and prior to issuance of the Certificate
of Occupancy the Applicant shall acquire the following floor area ratio bonuses:
a) Beach Access Easement
b) Beach Access Trust Fund
0.10 FAR
0.20 FAR
$ -0-
$ 636,480
11-2-123 18555 Collins Avenue
3
c) Public Beach Rec. Enhancement
d) Collins Ave Streetscape
e) Sunny Isles Public Parking
f) Public Oceanfront Park
0.50 FAR
0.30 FAR
0.20 FAR
0.20 FAR
$ 1,591,200
$ 954,720
$ 636,480
$ -0-
The total contribution for all Floor Area Ratio bonuses for the development is $3,818,880
for a total increase in floor area ratio of 1.5 for a maximum floor area ratio of 4.0. If
development is permitted in phases the bonus contribution shall be prorated for each
phase.
10. That in the event of multiple ownership, a homeowner's association be established in
accordance with applicable regulations to assure that all common areas and facilities for
the residents, as well as all easements dedicated to the City, shall be maintained in
continuous and satisfactory manner and without expense to the general taxpayers of the
City of Sunny Isles Beach.
11. That the Applicant comply with all conditions and permit requirements, including but not
limited to Miami-Dade County, including environmental conditions and permitting, the
Fire and Water and Sewer Departments, Florida Department of Environmental Protection
(DEP) and Florida Department of Transportation (FOOT).
12. No building permits shall be issued (except for demolition and sales trailers) unless the
Applicant has submitted all documents referred to under this approval and shall have paid
all impact fees, bonuses, and Transfer of Development Rights (if applicable),
professional fees (as per Ordinance 2001-132 and such other applicable Land
Development Regulations) due to the City.
13. Pursuant to Resolution 2011-1810, the Applicant has agreed to provide a warranty deed
to the City donating the following described land located adjacent to the property
commonly known as the Ocean Food Market Property that the City intends to use to
construct an intracoastal park:
All that part of Lots 87 and 88 of TATUM'S OCEAN BEACH PARK SUBDIVISION, recorded in Plat
Book 5, at Page 35, of the Public Records of Miami-Dade County, Florida lying Westerly of the Westerly
line of the 100.00 foot Right-of-Way of State Road No. 140, now known as State Road A-i-A, as the center
line of same is recorded in Plat Book 45, at page 39, of the Public Records, of Miami-Dade County,
Florida, said lots surveyed to face of a concrete bulkhead cap lying Westerly of the said Westerly line of
State Road A-I-A.
B. CONDITIONS TO BE COMPLETED BEFORE ANY CERTIFICATE OF
OCCUPANCY IS ISSUED.
1. That the Applicant demonstrates that they are in compliance with all terms and
conditions under this approval.
2. The Applicant shall pay all fees related to the review of the application described herein
and shall have paid all other fees due to the City.
11-2.123 18555 Collins Avenue
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3. Under Ordinance 2001-132, the City Manager and/or his/her designee in review of any
application, may refer any such application presented to it to such engineering, planning,
legal, technical, or environmental consultant or professional(s) employed by the City as
the Manager shall deem reasonably necessary to enable him/her to review such
application as required by law. Charges made by such consultants or professionals shall
be in accord with the charges customarily made for such services in Miami-Dade County,
and pursuant to an existing contractual agreement by and between the City and such
consultant. Charges made by the City shall be in accord with the hourly rates charged by
such consultants or hourly rates of employed professionals and shall be paid within 30
days on submission of City voucher.
4. At the time of submission of any application or thereafter, it is required that an escrow
account be established, from which withdrawals shall be made to reimburse the City for
the cost of professional review services, if any. The Applicant shall then provide funds
to the City for deposit into such account in an amount to be determined by the City
Manager, based on his/her evaluation of the nature and complexity of the application.
The Applicant shall be provided with copies of any City voucher for such services as
they are submitted to the City. When the balance in such escrow is reduced to one-third
(1/3) of its initial amount, the applicant shall deposit additional funds into such account
to bring its balance up to the amount of the initial deposit. If such account is not
replenished within thirty-days (30) after the applicant is notified, in writing, of the
requirements for such additional deposit, the City may suspend its review of the
application. An application shall be deemed incomplete if any amount shall be
outstanding. A building permit or Certificate of Use and Certificate of Occupancy shall
not be issued unless all professional review fees charged in connection with the
applicant's project have been reimbursed to the City. Once all pertinent charges have
been paid, the City shall refund to the Applicant any funds remaining on deposit.
5. The Applicant shall furnish payment and performance bond in an amount determined by
the Building Official to ensure Applicant's performance of public improvements
required pursuant to site plan approval and in accordance with recommendations of the
Building Official after review of construction plans submitted based on development
approval granted herein. Any such bond shall be issued by a surety having a minimum
rating of A-I in the Best's Key Rating Ouide, Property/Casualty Edition, shall be subject
to the approval of the City, and shall provide that "this bond may not be cancelled or
allowed to lapse until 30 days after receipt by the City, by certified mail, return receipt
requested, of written notice from the issuer of the bond of intent to cancel or not to
renew". As improvements are made the City, within its discretion, may reduce or
eliminate the bond amount. These rights reserved by the City with respect to any
construction bond established pursuant to this section are in addition to all other rights
and remedies the City may have under this Resolution, in law or in equity.
6. That the Applicant shall install decorative sidewalks in front of the Project facing Collins
A venue, in conformity with the City's decorative sidewalks on the west side of Collins
A venue. The Applicant shall be required to apply for and receive approval from the City
prior to installing the decorative sidewalk area.
11-2-123 18555 Collins Avenue
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C. OTHER CONDITIONS
1. That the Applicant obtains a Certificate of Occupancy and a Certificate of Use from the
City upon compliance with all terms and conditions. The Certificate of Occupancy and
Certificate of Use shall be subject to cancellation upon violation of any of the conditions.
2. That the approved site plan shall remain valid for a period of 24-months from the date of
approval. If no building permit is issued within the 24-month time period, the site plan
shall be considered null and void and of no force and effect.
3. That the Applicant complies with all City Ordinances, County, State and Federal Laws
and Regulations applicable to development and permit approvals.
4. That all median openings be approved by the City prior to commencement and that the
median openings meet the requirements of the Sunny Isles Beach Median Closing Traffic
Study.
5. All sand excavated from the property including sand from the western side of the Coastal
Construction Control Line ("CCCL") shall be cleaned and shall remain on the beach for
re-nourishment purposes in a location to be determined by Miami-Dade County
Permitting, Environment and Regulatory Affairs ("PERA") (formerly Miami Dade
County Department of Environmental Resources Management "DERM").
6. That this Resolution and all conditions contained herein shall be binding upon Applicant,
its successors and/or assigns.
NO BUILDING PERMIT SHALL BE ISSUED UNLESS THE APPLICANT HAS
SUBMITTED ALL DOCUMENTS REFERRED TO UNDER THIS RESOLUTION AND
SHALL HAVE PAID ALL IMPACT FEES, BONUSES, AND TRANSFER OF
DEVELOPMENT RIGHTS TO THE CITY (IF APPLICABLE) OR OTHERWISE
PRODUCED EVIDENCE THAT THE PERMITTED PRIVATE DEVELPOMENT
RIGHTS AS SET FORTH IN SECTION III HEREIN ABOVE HA VE BEEN
TRANSFERRED PROFESSIONAL FEES SECTION 267 OF THE CODE OF THE CITY
OF SUNNY ISLES BEACH AND ALL OTHER FEES DUE AND OWING PURSUANT
TO THE APPLICABLE LAND DEVELOPMENT REGULATIONS. FAILURE BY THE
CITY TO TIMELY ENFORCE ANY OF THE ABOVE CONDITIONS DOES NOT
CONSTITUTE A WAIVER OF THE SAME AND IF THE APPLICANT, ITS
SUCCESSORS, OR ASSIGNS, DOES NOT PERFORM SUCH CONDITIONS WITHIN
FIVE (5) DAYS AFTER WRITTEN NOTICE, THE CITY RETAINS THE RIGHT TO
STOP CONSTRUCTION, IF NECESSARY, UNTIL THAT CONDITION IS MET. BY
ACTING UNDER THIS APPROVAL, APPLICANT HEREBY CONSENTS TO ALL
THESE TERMS AND CONDITIONS.
11.2-123 18555 Collins Avenue
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V. SEVERABILITY
If any section, subsection, sentence, clause, phrase, or portion of this Resolution is, for any
reason, held invalid or unconstitutional by any Court of competent jurisdiction, such portion shall
be deemed a separate, distinct, and independent provision and such holding shall not affect the
validity of the remaining portions of this Resolution.
VI. REPEALER
All Resolutions are parts of Resolutions in conflict herewith shall be hereby and are repealed.
VII. EFFECTIVE DATE
This Resolution shall become effective upon adoption.
PASSED and ADOPTED this 17th day of November, 2011.
CITY OF SUNNY ISLES BEACH, FLORIDA
By its City Commission
By:
ATTEST: .
,~~~
Jane A. Hines, CMC, City Clerk
. '" . :....,,1
. 11''' .. r"", :J
. .
AS TO FORM
S FICIENCY:
11-2-\23 18555 Collins Avenue
7
VOTE: 5-D
Mayor Norman Edelcup
Vice Mayor Thaler
Commissioner Aelion
Commissioner Oatto
Commissioner Scholl
vyes
~yes
-Lyes
----lLY es
-0es
11-2-123 18555 Collins Avenue
Moved by: V \CA.. M..~(' lliAlXQ..
Second by: d~~ A~L'b0
no
no
no
no
_no
8
CITY OF SUNNY ISLES BEACH
NOTICE OF ZONING HEARING
NOTICE IS HEREBY GIVEN that a public hearing will be held by the City Commission of the
City of Sunny Isles Beach, Florida, in the David P. Samson Commission Chambers, Sunny Isles
Beach Government Center, 18070 Collins Avenue, Sunny Isles Beach, Florida on Thursday,
November 17 at 6:30 p.m., to consider the following Zoning application:
Application:
Location:
Public Hearing #:
Porsche Design Residences
18555 Collins Avenue
Z20II-04
Summary:
The Applicant is requesting approval of a site plan for a 57 story, 132 unit condominium
building with 500,039 square feet. The Applicant is also requesting Transfer of Development Rights
(TDRs) in the amount of 115,391 square feet of floor area.
Requests:
1. Pursuant to Section 265-18 of the City of Sunny Isles Beach Land Development Regulations,
the Applicant is requesting a site plan approval for a 57 story building with 132 condominium
units.
2. Pursuant to Section 265-23 of the City of Sunny Isles Beach Land Development Regulations,
the Applicant is requesting to transfer 115,391 square feet of development rights and 53 units.
An adjustment to be made for a decrease of 115,391 square feet and 53 units from the City's
Transfer of Development Rights Bank or TDR bank accounts designated for private owners.
Plans are on file and may be examined in the Community Development Department entitled "Porsche Design",
prepared by The Sieger Suarez Architectural Partnership, consisting of 49 sheets dated received 09/22/20 II
and revised 10/27/11 and plans entitled "Boundary Survey, Paving and Drainage Plans", prepared by Fortin,
Leavy, Skiles, Inc., consisting of 3 sheets dated stamped received 09/22/20 II.
Legal: All of Tract "L" less the south 200 feet thereof and less the north I 00 feet thereof, of AMENDED
Plat of North Biscayne Beach, PB 44 Page 42
Size of Property: 2.21 acres (96,162 sq ft)
Zone: Mixed Use-Resort (MU-R)
All persons are invited to appear at this meeting or be represented by an agent, or to express their views in writing addressed to the City
Clerk, City of Sunny Isles Beach, 18070 Collins Avenue, Sunny Isles Beach. Florida, 33160. The courts have ruled that it is improper to
contact a City Commission member individually, either orally or in writing about any zoning applications. Maps and other data pertaining
to these applications are available for public inspection during normal business hours in City Hall. Any zoning hearing may be continued
at this meeting and under such circumstances, additional legal notice would not be provided. Any persons wishing to speak at a public
hearing should register with the City Clerk prior to that item being heard. Inquiries regarding the item may be directed to the City's
Community Development Department at (305) 792-1710. Please refer to the hearing number when making an inquiry. If a person decides
to appeal any decision made by the City Commission with respect to any matter considered at such meeting or hearing, they will need a
record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record
includes the testimony and evidence upon which the appeal is to be based. This notice does not constitute consent by the City for
introduction or admission of otherwise inadmissible or irrelevant evidence, nor does it authorize challenges or appeals not otherwise
allowed by law. In accordance with the Americans with Disabilities Act, all persons who are disabled and who need special
accommodations to participate in this meeting because of that disability should contact the City Manager at 305-792-170 I. no later than 48
hours prior to the proceeding; if hearing impaired, please telephone the TDD line at 305-792-1590 for assistance.
Created: 09/26/11 CH
Revised 11/02/11 AAD
Revised 11/10/11 HO
CITY OF SUNNY ISLES BEACH
DEVELOPMENT REVIEW REPORT
Porsche Design Residences
I. PROJECT SUMMARY
Application Number: Z2011-04
Application Summary: The property is currently improved with a 2-story condominium-hotel
building known as the Golden Nugget. The structure was built in
1956 and contains a total of 120 residential units. All units are
currently owned by the Applicant.
The proposed development encompasses a 57 story, 132 unit
condominium building with 500,039 square feet and is intended to
utilize 1.50 Floor Area Ratio (FAR) bonuses. The Applicant is also
applying for transfer of development rights (TORs) in the amount of
115,391 square feet of floor area.
Applicant/Owner:
GllCO Realty, L.C.
18001 Collins Avenue, 31st Floor
Sunny Isles Beach, FL. 33160
II. SITE INFORMATION
land Area:
2.21 Acres (96,162 sq. ft.)
(Updated Boundary Survey dated Sept. 16,2011)
location:
18555 Collins Avenue
Folio:
31-2202-037 -0001 (reference folio)
legal Description: All of Tract "l" less the south 200 feet thereof and less the north 100
feet thereof, of AMENDED Plat of North Biscayne Beach, PB 44
Page 42
U:\PLANNING&ZONING2008\zONING HEARING.APPLlCA TIONS\20 11 APPLlCA TION\Z20 11-04 PORSCHE 1
Created: 09/26/11 CH
Revised 11/02/11 AAD
Revised 11/10/11 HO
Land Use:
Mixed Use - Hiqh Densitv Resort (MUHDR)
This category is intended to provide for resort style
developments (hotels, hotel-apartments and resorts), high
quality residential apartments (as-of-right 50 DUs/acre and
2.5 F.A.R.) and associated internal accessory uses
(restaurants and other convenience services).
Zoning:
Mixed Use Resort (MU-R)
This district provides for multifamily apartments, hotels,
motels and apartment-hotels, commercial services and retails
goods internal to the buildings and conferencing facilities.
Adjacent Properties:
Existing Use Zoning Land Use Plan
North Millennium Condo MU-R MU-HDR
East Atlantic Ocean N/A --
South Turnberry Isle Club MU-R MU-HDR
West Commercial B-1 N-B
III. REQUEST
1. Pursuant to Section 265-18 of the City of Sunny Isles Beach Land Development
Regulations, the Applicant is requesting a site plan approval for a 57 story building with
132 condominium units.
2. Pursuant to Section 265-23 of the City of Sunny Isles Beach Land Development
Regulations, the Applicant is requesting to transfer 115,391 square feet of development
rights and 53 units. An adjustment to be made for a decrease of 115,391 square feet and
53 units from the City's Transfer of Development Rights Bank or TOR bank accounts
designated for private owners.
IV. ZONING REVIEW
The plans reviewed are on file, and may be examined, in the Community Development
Department and are entitled "Dezer-Porsche Design Residences", prepared by The
Sieger Suarez Architectural Partnership, consisting of 49 sheets dated received
09/22/2011 (revised 1 0/27/11) and plans entitled "Boundary Survey, Paving and
Drainage Plans", prepared by Fortin, Leavy, Skiles, Inc., consisting of 3 sheets dated
stamped received 09/22/2011.
1. 265-35.0 (1) Minimum Lot Area and Width: Complies.
Required: lot width - 200 feet; lot area - 20,000 square feet
Provided: lot width - 201 feet; lot area - 91,162 square feet
2. 265-35.0 (2) & 265-23 (2) (f) Maximum Height: Complies with the Zoning In Progress.
Allowed: Unlimited (FAA Restrictions Apply)
U:\PLANNING&ZONING2008\ZONING HEARING-APPLlCATIONS\2011 APPLlCATION\Z2011-04 PORSCHE 2
Created: 09/26/1 1 CH
Revised 11/02/1 1 AAD
Revised 11/10/1 I HO
Provided: 641 feet.
3. 265-35 D (3) Lot Coverage: Complies.
Allowed: 80% maximum.
Provided: 55%
4. 265
-35.D(4):Setbacks:
Required Provided
Front
Tower 75 feet 198 feet 8 1/8 inches
Complies
Porte-cochere 50 feet 164 feet 3 3/4 inches
Complies
Pedestal 1 0 feet 50 feet 2 7/8 inches
Complies
Rear Bulkhead line or 20' from the rear 48 feet 1 3/4 inches
property line, whichever is closer from rear property
to Collins Ave. line. Complies
Side North
Tower 20 feet 21 feet. Complies
with the Zoning In
Garage Three-foot setback for each two Progress
feet of building height up to a 21 feet. Complies
maximum setback of 20 feet
Side South
Tower 20 feet 21 feet. Complies
with the Zoning In
Garage Three-foot setback for each two Progress
feet of building height up to a 21 feet. Complies
maximum setback of 20 feet
5. 265-35. D (6) Maximum Building Width: Complies.
Allowed: Maximum 250 feet.
Provided: 159 feet.
6. 265-35.D (8) Beach Access Easement: Complies.
Required: 15 feet wide and located within a required side yard setback.
Provided: 21feet (north side); 21 feet (south side).
7. 265-35.D (9) Floor Area Ratio: Requires City Commission Approval of TDRs for
compliance.
Maximum floor area ratio (265-35.0(9)(b)):
Permitted: Base 2.50 (240.405 square feet); with FAR Bonus and TORs 5.20-
(500,042.4 square feet).
Provided: 5.20 with bonus FAR and TORs - 500,039 square feet.
U :\PLANNING&ZONING2008\zONING HEARING-APPLICA TIONS\20 II APPLICA TION\Z20 11-04 PORSCHE
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Created: 09/26/11 CH
Revised 11/02/11 AAD
Revised 11/10/11 HO
8. 265-35.0 (10) Maximum Dwelling Unit Density: Requires City Commission Approval
of TORs for compliance.
Allowed: 50 dwelling units/acre (110 dwelling units) - Base number
Allowed with bonus FAR and TORs (80 dwelling units/acre): 176
Provided: 132 dwelling units/acre with bonus FAR and TORs
9. 265-35.0 (11) Minimum Unit Size: Complies.
Required: 550 square feet
Provided: Complies - Minimum unit size proposed is 3,400 square feet.
10. 265-35.0 (13) Parking Garage/rooftop: Complies.
Required: 5% Maximum
Provided: 4%
11. 265-35 (15) Open Space: Complies.
Required: 40% minimum landscaped area
Provided: 59%
12. 26546 P k'
- ar mg:
Required Provided Comments
Regular
(Residential) 198 284 Complies with parking stall
(Guest) 10 40 size requirements (9' x18')
265-46 (7)(a)
TOTAL 230 329*
Loading 2 (10' x 25') 1(10' x 25') Complies.
1 (11' x
35')
Handicap Per F.S. ch. 553 pt. 5 Complies.
V
*Include handicap spaces count
Note: 2-car garage sizes must be a minimum of 17 feet by 18 feet.
13. 265-74 Lighting:
Required: Spillover shall not exceed 0.5 footcandles measured vertically along the
property line at the perimeter of the property.
Provided: Photometric plan will be provided at time of permitting.
14. 265-18E.(3)(f) Signage:
Required: Location, size, character, height and orientation of all signs
Provided: Building signage plan provided
V. PLANNING REVIEW:
1. Comprehensive Plan
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Created: 09/26/11 CH
Revised 11/02/11 AAD
Revised 11/10/11 HO
The proposed development is consistent with the following policies of the City of Sunny
Isles Beach Comprehensive Plan.
Future land Use Element
Policy 1 A. The City of Sunny Isles Beach shall give priority to in-fill development on
vacant sites, and redevelopment of existing, obsolete commercial and beachfront
development.
This development proposal seeks to redevelop an obsolete beachfront parcel.
Policy 10B. .. . maintaining view corridors and promoting compatible relationships with
adjacent properties and the beachfront...
This policy provides the language to protect the greatest natural resource the City
has, the beach, and visual access to it. Developments occurring on the east side
of Collins Avenue should offer ocean view opportunities to properties west of
Collins Avenue by providing adequate spacing between developments. The City's
zoning code requires appropriate side setbacks to accommodate these valued
view corridors.
Adequate spacing between developments serves to promote better relationships
between adjacent properties. Spacing helps to mitigate the impact of anyone
development on its neighboring properties. The City's zoning code recognizes the
impact that larger buildings on larger properties would have on adjacent properties
and accordingly requires a greater side setback for these larger buildings.
Adequate spacing between developments also reduces the impact that a wall of
closely spaced buildings would otherwise have on the beachfront.
The spacing provided in the development proposal fully supports the intent of
policy 1 DB.
Policy 10B ...to provide expanded public pedestrian circulation space...
Collins Avenue is the Main Street of the City. It also connects the beach with the
rest of the community, generating most of the pedestrian activity. The City aims to
create a safe yet enjoyable area along Collins Avenue by building open inviting
spaces promoting pedestrian activity.
The current building design proposed by the developer will provide an open
inviting pedestrian space along Collins Avenue in keeping with the City's
Streetscape Master Plan.
Additionally, the applicant is providing beach access on both the north and south
sides of the parcel.
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Created: 09/26111 CH
Revised 11/02/11 AAD
Revised 11/10111 HO
2. Transfer Development Rights
The Applicant proposes the purchase of Transfer of Development Rights (TOR) in the
amount of 53 dwelling units and 115,391 square feet of floor area. The effect of the TOR
purchase on the project would be an increase in F.A. R.
3. Traffic Engineering
Traffic Impact Analvsis:
The traffic impact analysis submitted by the Applicant was done by Kimley-Horn and
Associates, Inc. dated August 22, 2011. The analysis determined a minor increased
delay at the 189th Street intersection. Analysis shows the future queue lengths can be
accommodated within the existing turn lanes provided on S.R. A1A. It is also
recommended that the Applicant provides signage at the northern driveway or constructs
the driveway in such manner as to prohibit traffic from the site to make northbound to
southbound U-turns at the 186th Street intersection.
VI. RECOMMENDATION
Staff recommends Approval of this application, subject to the following conditions.
VII. CONDITIONS
Conditions to be completed before demolition, below qrade or buildinq permits are
issued.
1. A Miami-Dade County tree removal permit must be secured and attached to the
landscape permit application prior to demolition.
2. Palms along Collins Avenue must be at least 12' clear-wood Medjool Palms to be
consistent with the City Streetscape Master Plan.
3. That the Applicant provide the Lighting/Photometric Plan prior to building permit.
4. That the Applicant provide the Signage and Pavement Marking Plan prior to building
permit.
5. The Applicant shall submit any and all other documentation and/or payments required by
the City to effectuate the purchase of transfer of development rights from the City or
Private Owners and further procedures being developed to effectuate this program,
notwithstanding the fact that such procedures may be formally adopted subsequent to
this particular approval, prior to submitting for building permit.
6. Upon the submittal of an application for a building permit, the plans submitted shall be
approved by the Community Development Department and be consistent with the
specific site plan approved by the City Commission. Plans shall include all the required
elements of the site plan pursuant to the City's Land Development Regulations and
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recommendations. Should compliance with recommendations result in a change that
would not be considered "minor" in accordance with Ordinance 2003-167 adopted March
20, 2003; the Applicant shall be required to obtain another approval of the City
Commission.
7. That a plot plan be submitted to the Community Development Department for their
review. The plot plan shall include all easements proffered by the Applicant to the City,
including but not limited to (i) beach access easement exactly as shown on the Site Plan
and as represented by the Applicant to the City Commission (the "Beach Access
Easement") (ii) a ten-foot (10') landscaping streetscape easement as per the City
Streetscape Master Plan (the "Streetscape Easement"), and (iii) the 10,000 square foot
public oceanfront park (the "Oceanfront Park") and, if applicable, other amenities. The
plot plan shall show the type and size of plant materials, which shall be in compliance
with the City's Streetscape Master Plan.
8. That the Applicant submit a Declaration of Restrictions in recordable form acceptable to
the Community Development Department and acceptable to the City Attorney prior to
submittal for an application for building permit, which proffers: the beach access;
landscaping; easements over, across, under and through the property (including the 10-
foot landscaping streetscape easement as per Streetscape Master Plan); and, a 10,000
square foot Public Oceanfront Park. Maintenance for such easement parcels proffered to
the City, shall be the responsibility of the applicant, including 24-hour valet parking
services for owners and guests, among other things.
9. That the Applicant must present evidence of performance to the Community
Development Department of the obligation required to qualify for the Floor Area Ratio
bonus. In the event that the Applicant has done so and prior to issuance of the
Certificate of Occupancy the Applicant shall acquire the following floor area ratio
bonuses:
a) Beach Access Easement 0.10 FAR $ -0-
b) Beach Access Trust Fund 0.20 FAR $ 636,480
c) Public Beach Rec. Enhancement 0.50 FAR $ 1,591,200
d) Collins Ave Streetscape 0.30 FAR $ 954,720
e) Sunny Isles Public Parking 0.20 FAR $ 636,480
f) Public Oceanfront Park 0.20 FAR $ -0-
The total contribution for all Floor Area Ratio bonuses for the development is $3,818,880
for a total increase in floor area ratio of 1.5 for a maximum floor area ratio of 4.0. If
development is permitted in phases the bonus contribution shall be prorated for each
phase.
10. That in the event of multiple ownership, a homeowner's association be established in
accordance with applicable regulations to assure that all common areas and facilities for
the residents, as well as all easements dedicated to the City, shall be maintained in
continuous and satisfactory manner and without expense to the general taxpayers of the
City of Sunny Isles Beach.
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11. That the Applicant comply with all conditions and permit requirements, including but not
limited to Miami-Dade County, including environmental conditions and permitting, the
Fire and Water and Sewer Departments, Florida Department of Environmental Protection
(DEP) and Florida Department of Transportation (FOOT).
12. No building permits shall be issued (except for demolition and sales trailers) unless the
Applicant has submitted all documents referred to under this approval and shall have
paid all impact fees, bonuses, and Transfer of Development Rights (if applicable),
professional fees (as per Ordinance 2001-132 and such other applicable Land
Development Regulations) due to the City.
Conditions to be completed before any Certificate of Occupancy is issued.
13. That the Applicant demonstrates that they are in compliance with all terms and
conditions under this approval.
14. The Applicant shall pay all fees related to the review of the application described herein
and shall have paid all other fees due to the City.
15. Under Ordinance 2001-132, the City Manager and/or his/her designee in review of any
application, may refer any such application presented to it to such engineering, planning,
legal, technical, or environmental consultant or professional(s) employed by the City as
the Manager shall deem reasonably necessary to enable him/her to review such
application as required by law. Charges made by such consultants or professionals shall
be in accord with the charges customarily made for such services in Miami-Dade County,
and pursuant to an existing contractual agreement by and between the City and such
consultant. Charges made by the City shall be in accord with the hourly rates charged
by such consultants or hourly rates of employed professionals and shall be paid within 30
days on submission of City voucher.
16. At the time of submission of any application or thereafter, it is required that an escrow
account be established, from which withdrawals shall be made to reimburse the City for
the cost of professional review services, if any. The Applicant shall then provide funds to
the City for deposit into such account in an amount to be determined by the City
Manager, based on his/her evaluation of the nature and complexity of the application.
The Applicant shall be provided with copies of any City voucher for such services as they
are submitted to the City. When the balance in such escrow is reduced to one-third (1/3)
of its initial amount, the applicant shall deposit additional funds into such account to bring
its balance up to the amount of the initial deposit. If such account is not replenished
within thirty-days (30) after the applicant is notified, in writing, of the requirements for
such additional deposit, the City may suspend its review of the application. An
application shall be deemed incomplete if any amount shall be outstanding. A building
permit or Certificate of Use and Certificate of Occupancy shall not be issued unless all
professional review fees charged in connection with the applicant's project have been
reimbursed to the City. Once all pertinent charges have been paid, the City shall refund
to the Applicant any funds remaining on deposit.
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17. The Applicant shall furnish payment and performance bond in an amount determined by
the Building Official to ensure Applicant's performance of public improvements required
pursuant to site plan approval and in accordance with recommendations of the Building
Official after review of construction plans submitted based on development approval
granted herein. Any such bond shall be issued by a surety having a minimum rating of A-
1 in the Best's Key Rating Guide, Property/Casualty Edition, shall be subject to the
approval of the City, and shall provide that "this bond may not be cancelled or allowed to
lapse until 30 days after receipt by the City, by certified mail, return receipt requested, of
written notice from the issuer of the bond of intent to cancel or not to renew". As
improvements are made the City, within its discretion, may reduce or eliminate the bond
amount. These rights reserved by the City with respect to any construction bond
established pursuant to this section are in addition to all other rights and remedies the
City may have under this Resolution, in law or in equity.
Other Conditions:
18. That the Applicant obtains a Certificate of Occupancy and a Certificate of Use from the
City upon compliance with all terms and conditions. The Certificate of Occupancy and
Certificate of Use shall be subject to cancellation upon violation of any of the conditions.
19. That the approved site plan shall remain valid for a period of 24-months from the date of
approval. If no building permit is issued within the 24-month time period, the site plan
shall be considered null and void and of no force and effect.
20. That the Applicant complies with all City Ordinances, County, State and Federal Laws
and Regulations applicable to development and permit approvals.
21. That all median openings be approved by the City prior to commencement and that the
median openings meet the requirements of the Sunny Isles Beach Median Closing
Traffic Study as approved by City Resolution 2003-598.
(END)
U:\PLANNING&ZONING2008\zONING HEARING-APPLICATIONS\2011 APPLICATION\Z2011-04 PORSCHE
9
September 21, 2011
Mr. Jorge Vera
Assistant City Manager
City of Sunny Isles Beach
18070 Collins Ave.
Sunny Isles Beach, Fla. 33160
Re: Application for site plan approval and purchase of Transferable Development Rights
Dear Mr. Vera:
Please accept this application on behalf of Gilco Realty, L.C., owner of the Oolden Nugget property
located at 18555 Collins Avenue, Sunny Isles Beach, Florida, for site plan and purchase of city-owned
Transferable Development Rights (TDRs) approvals by the City of Sunny Isles Beach Commission.
This site plan application is for the 2.21 acre oceanfront parcel in the MUR zoning district which was
formerly the Oolden Nugget Motel and the Oolden Nugget Condominium and Beach Club. The
proposed development is currently designated "Porsche Design Residences" and will have one hundred
and thirty two (132) luxury units in an architecturally and technologically unique building.
The site plan approval request meets the City requirements for the number of units permitted (with
TDR approval), parking provided (126 additional spaces than required ), landscaped open space, FAR
(with TDR approval), and related criteria. In addition, the proposed building has received FAA
approval.
The building is designed by Porsche Design and The Sieger Suarez Architectural Oroup (Sieger
Suarez) and will be developed by Dezer Development or a Dezer-related entity. Oil Dezer and Michael
Dezer have built and Charles Sieger has designed the most successful and luxurious high rise
condominiums in Sunny Isles Beach including Trump Palace, Trump Royale, Trump International
Hotel and Trump Towers I, II and III.
The request for the purchase of 115,391 square feet of Transferable Development Rights from the City
of Sunny Isles Beach will raise the permissible FAR to 5.20 including bonus FAR and TDR FAR which
is within the City's guidelines. The purchase will generate approximately $8,000,000 in additional cash
to the City of Sunny Isles Beach. The TDR request is attached herewith to be considered concurrently
with the site plan approval application.
Porsche Design Residences signifies the merging of Porsche Design technology with current design
standards, the outstanding architectural plans of Sieger Suarez and the proven expertise of building and
marketing luxury oceanfront condominiums of Oil Dezer in a project which will lead Sunny Isles
Beach forward in the new economic realities of this decade. Porsche Design Residences is the
forerunner of the new type of Sunny Isles Beach development which will regenerate millions of dollars
in real estate tax revenues and disposable income to support the many City services provided to Sunny
Isles Beach residents.
The Porsche Design development team, subject to Commission approval of the proposed site plan and
purchase of TDRs, intends to break ground in early 2012 with the demolition of the existing Oolden
Nugget building.
Enclosed with this letter are the following:
1. Completed application.
2. Proposed Construction Schedule.
3. Property Appraisal Report.
4. FAA Approvals.
5. Traffic Impact Analysis.
6. Completed ownership affidavit.
7. Completed disclosure of interest form.
8. 6 sets of rolled and collated plans (3 with TDR and 3 without TDR)
9. Signed and sealed survey.
10. Signed and sealed certified sketch survey.
11. Application fee.
Thank you for your prompt attention to this matter and please do not hesitate to call me if you have any
questions.
_~UI~
~ ze
Enclosures
Via Hand Delivery
I.
2.
. "
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4.
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.5,
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Proposed Project Name:
"0 b
r t9 R Sc.. \-\ C ~.s: 16 N "
G-1Lc..C RCA,.L-T'f, L.C.
Name of Applicant
a. If applicant is the owner, give name exac!ly as 'recorded on deed.
b. If applicant is lessee, attach copy of vlllid lease of one (l) year or more. and Property.
Owners Sworn-ta-Consent. . . . . .'
c. If appliCant is a corporation. partnership, limited partnership, or trustee, a separate
Disclosure oflitterest form must be completed.
Applicant Mamng Ad,dfeSS~~ li"~D I. Co. u ,.f.js; . A-ve.-.
City ~uN";~~Gh State- ..pi-.... ...
Tel. # (during working hours) . (S~ C) 3-> >-- - 100(1') . Other
Name of Property Owner G I L Go . R e-A-t..~ . L ~ c -
Mailing Address /fitJ{) I ~. ~ i /..1>. --,s;;:vA,' 31 ~ f'-
City ~~"JN' ~*c.f.7~State q:::{.,. : '. . Zip ~~ fl.'?)
Tel. # (during working hours), ~t)7" q ~ ')........ -fOnt:) , Other '. _ . . . .
Contact Person~IPP iw ~.,c...~ .' VP
'Mailin 'Address I " 0 . ;: ". ~,,"S'. ~:;''3(5:!"'tFt;.. .
qty rJJ.I IS ~ I/J- State. . ~ Zip B>.bt1>'
'. Tel. # (dudng working hours) .- ~Other
613"" P
. . ' /"-.
Zip3'3)bV
: . ; .~.,
.." ;"
. 1 :,~:,'i .' '., .
4. . LEGAL DESCRIPTION OF THE PROPERTY. COVERED BY THE
APPLICATION
5.
a. if subdivided, provide lot, block, complete name of subdivision, plat book and
page number.
b.if metes and bounds description, provide complete legal description (including
section, township and range).
c. if separate request apply to different areas, provide the legal description of
each area covered by a separate request. .
d.attach a separate, typed sheet if necessary. Verify the legal description is
correct.
5~E ~XH/~I~ "Ad
Address or location of subject property:
I'bS'5:S COUltfs ,4~,
6.
Size of property:
)JI.q-:r; ft. x qg' (
Z 01.1'1
He^'
fe acres l, L.-1
City of Sunny Isles Beach
Community Development Department
. ,
7. Date subject properly acquired ~r leased day of
term of lease vears/months.
E:a= ~x #+1{3 ~ t" ~!$'"
8. Does property owner own contiguous property to the subject property? IT so, give
complete legal description of entire contiguous property. (If lengthy, please type on a sheet
labeled "Contiguous Property". N I A..
9. Is there an option to purchase or lease the subject property or properly
contiguous thereto? ./
Yes or No v
IT yes, who are the potential purchasers or lessees? (Complete section of Disclosure of
Interest form also).
10. Present zoning classification (s): M lA-R..
11. REQUEST (S) COVERED UNDER TIDS APPLICATION:
Please check the appropriate box and give a brief description of the nature
of the request in the space provided.
o Comprehensive Plan Amendment.
o District Boundary Change (s)
p(Site Plan Approval.
o Conditional Use
o Variance
o Plat Approval
)!Transfer Development Rights
o Vested Rights
o Appeals
o Other.
12. Has a public hearing been held on this property within the last year and it half? 0 yes ~o
If yes, applicants name
Date of hearing
Nature of hearing
Decision of hearing
Resolution #
City of Sunny Isles Beach
Community Development Department
13. Is this hearing being requested as a result of violation notice? 0 yes t1-no
If yes.. give name to which violation notice was served
Nature of violation
14.
Are there any existing struF.~ures on the property? i. yes 0 no
If yes. briefly describe Ilf>"kl (~"" "..It \A M / ~L.bSPJ
2 s~ I \A ..., ,~ l!e-A>/)() BfA. if_P/I..r;p
N~9ek
15.
Is there any existing use on the property? ~ yes 0 no
If yes, what is the use and when was it established? Use 4/-{!J k../ ~Pb-ll '.1 N LU 11I\
Established /.r.5~ l-h,t-el / /983 ~C>IS?~ I t-J loutv'.
I
City of Sunny Isles Beach
Community' Development Department
OWNERSIllP AFFIDAVIT
FOR LIMITED LIABILITY COMPANY
STATE OF 1='"\..O,l,'~
COUNTY OF fI\.AM'...I>I'<~
Public Hearing No.
Before me, the undersigned authority, personally appeared &1... OEz..E1l.
, hereinafter the Affiant (s), who being first duly sworn by me, on oath, deposes and says:
1. Affiant is the manager, or managing member of the ~ ,....c-o e€~,",T'1 L. c...
Limited Liability Company with the following
. addre'ss:
1&00' &o\NI~ "'\,IE.~ , '5' F~OCItL ~~ I~~CCAC-to". F'L.
2. The Limited Liability compan~r lease (circle one) the property, which is the
subject of the proposed hearing.
3. The subject property is legally described as:
~ ~""t8.-r A
4. Affiant is legally authorized to file this application for public hearing:
5. Affiant understands this affidavit is subject to the penalties of law for perjury and the
possibility of voiding of any zoning granted at public hearing.
6. Affiant understands that the matters attached to and made part of the application are
honest and true to the best of my knowledge and belief. I llllderstand this application must
be complete and accurate before the application can be submitted and hearing
advertized.
Witnesses:
~e~rd~
i5e
_l ~~W\ S' reQ,tJtJ..:l:;-
Print Name
Sworn to and subscribed before me on the(Q \ ~
Affiant is personally known to me or has produced
Identification.
Affiant's Signature
e, II 1)(.~t?
Print Name
Commissic 11~1l''''''':-; GLiNDA.SAI 4RtO
~.~ /~ MY COMMISSION # 00809504
"'.'fr~~ EXPIRES August 03. 2012
(407) 398.0153 FloridaNolaryServlce.com
City of Sunny Isles Beach
Community Development Department
DISCLOSURE OF INTEREST
If the property which is the subject of the appl ication is owned or leased by a CORPORATION,
list the principal stockholders and principal officers or stOCkholders consist of another corporation
(s). trustee (s), p~ership (s) or other similar entities, further disclosures shall be required which
disclosures the identity of tbeindividual (s) (natural persons having the ultimate ownership interest
in the aforementioned entity).
Corporation Name
Name, Address and Office
Percentage of Stock
. .
............................................................................................................................
If the property which is the subject of the application is owned or leased by a LIMITED
LIABILITY COMPANY list the members or stockholders .consist of another corporation (s),
trustee:(s),partnership,(s) or other simi:l.ar entities. further disclosUres shall be required wpich. .
.~disclosures the identity of the individual (8) (natural-persOns hav~g the ultimate ownership interest. ""
'in the aforementioned entity).'" . .
"G. \~9'.:V<'~\:~~) t.t..
LLC Name"'
'"0' ..
Name. Address and Office
1\1\ I c.. \.., c...t. \ lJe.."'Z-e{Z.. ~ I'-\~ ~l ~& ~ ~
~eo""" ~-z.e.~~~Mi';;/~~ ~~
_!t..... -Pt=za- N\~ee~f:N\~~
r\ ~L A Dpe.f,SSES :
.I_eo' ~UAr/S A,e JI R-,
-S14ksN~ r~i.~.s. f3.~HJ fi- '33/6V
Percentage of Stock
City of Sunny Isles Beach
Community Development Department
~
Public Hearing No:
RESPONSIBILITIES OF THE APPLICANT
PLEASE READ CAREFULLY BEFORE SIGNING
I hereby acknowledge that I am aware of the preliminary review of plans of the proposed project
by the Department of Environmental Protection (DEP), and/or the Department of Environmental
Resources Management (DERM), the Florida Department of Transportation (FDOT). In addition,
the Miami-Dade County Fire Department (MDFD) for the staging area of the proposed project
along with the Miami-Dade County Biscayne Bay Shoreline Development Review Committee will
review and comment for approval all development applications. These comments sometimes
include requirements for an additional public hearing before (OERM) and the Environmental
Quality Control Board, (EQCB) in the preparation and execution of agreements to run with the
land, which are recorded, prior to obtaining a building permit.
I understand that is my responsibilities as the applicant or applicants representative to promptly
follow through with the compliance of DEP, DERM, MDFD, and lor Florida Department of
Transportation FDOT requirements or to advise this office in writing if the application will not go
forward and may be considered withdrawn. Contact with the above-mentioned agencies is advised
during the hearing process.
Permit requirements: I also understand that the Florida Building Code, DEP, DERM, MDFD, and
lor Florida Department of Transportation FDOT may contain requirements that affect my ability
to obtain a required building permit for my project, even if the zoning application is approved at
public hearing. I am aware that a Building Permit is required for all construction and that I am
responsible for obtaining the required permit, all required inspections, the Certificate of Use and
Occupancy or Certificate of Completion for any and all structures and additions whether proposed
or existing without permits. Additionally I am aware a Certificate of Use and Occupancy must be
obtained for the use of the property, if approved at a Zoning Hearing and that failure to obtain the
required permits and/or Certificates of Completion, Use and Occupancy will result in the initiation
of enforcement action against the occupant and owner. I further understand that submittal of
Zoning Hearing application will not necessary forestall enforcement action a . st the property.
E1~\Sigm~
Print Name
/- s,~ 01 ~- I^ 11\) '1, (I
Notary: Sworn to and subscribed before me thi~ \ --:::::=-day of C~'j.J1 (dL~ ,(~
(
,/ ri (0
orida
:~~~~y:~~,*_ GLlNDA S ALARIO
~{Q ",:;J MY COMMISSION # DD809504
-'i.~I'~' EXPIRES A~ust 03 2012
"n comm If S .
(407) 3 - )'5;' Vl~rlgJ:!or. ervrcecorn
City of Sunny Isles Beach
Conmmnity Development Department
EXBlBIT It A"
LEGAL DESCRIPTION
pARCEL 1:
. . '! >:
. .
"~A.if'ofOOU>ENNUGGET BEACH CLUB AND HOTEL, a Condominium, according....
to the Declaration. of Condominium thereof;, as recorded in Official Records Book 17283.
. . ..at ~age 25.7~.. as.amended. oftbePubllc Recorc:Isof~.pade CoUJJ.ty. Florida.
: ...~':,"~<':','.:"'. i':'>~:..::'" :'-.. .' . ~ . '. .' ':\.",;.' .." .',... .
~ ',,~ . . .~ . . .
. .... .:' .....::':"A/KJA, ..:.,':' '."
" .:.......
..... ..
. '.-: ..'. :',..; ::' ~ '. ~ <., ~.
'. ~ ~ .
. '.
.", .::' :. '.; -.j. .
,.....,.
;.... ~',", - .
. .
.<. '. . ":.-:~::.Ai1"6fTract:"f..!'less:ili.e souihi09.f~t 1h~eof and.1ess. theNortl1100feet theteo~of:: ....
.AMENDED PLAT OF NORTH'BISCAYNEBEACH,.accordjrig to the Plat thereof: as.;: :.. i ....
recorded,in~lat Book 44.a~.Page42,of.the Public Records of Miami-Dade COlmty, .
'.' ,.;."..:Florida:....: ""'.' ,..:: . ,.'. .........
. . ~ ~
.. . '.
. : i~sand~xcePt thefo1l6wiIlg described prQijiity:. ..:." '.
. 'PARcELk .'.
. .
. ':. .~. ,~-',. ....
~;:'.~':'..;7~'''l''':.'.';': ;.:~..~.....'.....~~.....:.;.. .....,: ~ .. ....:.;. "'~'. ......~_... ",.',
........:: ". ~Umienc~ :at,'the NOrihwest.-~ei:' of. the ilh9v~'deScri~ property; . thence -.on an.... .... ,:',,-
.:-' '.,~ ~. ".,,'::_;~~;~~~~t~~~~=:~=~~~;~~iin~::;~;;~g~:==::~::.;'.'1:....:
0: . : _ .ROad 140},a: distance of30.96.feet;.therice South 83 'degrees 53 ~utes 40 secondS East;
.'. ,." . ''is.lO feet to the Point of Beginning; '~epce East 45.15 feet;"thenceSouth 6050 feet;
. thence West 9.06 feet; thence South 22.&0 feet; thence East 13.83 feet; thence South
46.93 feet; thenCe West 20.20 feet; therice South 4.95 feet; thence West 32.00 feet; thence
North 1 degree 29 minutes 57 seconds East, 112.05 feet; thence North 11 degrees 21
minutes 45 seconds East, 21.05 feet to the Point of Beginning.
.~ '.:: '.
.:'J .~ ~. :~:.
PARCEL B:
Commence at the Point of Beginning of Parcel One as described above; thence East
45.15 feet; thence South 5.95 feet; thence East 165.83 feet; thence South 6.08 feet to the
Point of Beginning; thence E8.st 12.33 feet; thence South 32. 37 feet; thence West 12.33
feet; thence North 33.37 feet to the Point of Beginning.
PARCELC:
Commence at the Point of Beginning of Parcel One as described above; thence South 11
degrees 21 minutes 45 seconds West, 21.05 feet; thence South 1 degree 29 minutes 57
seconds East, I12.0S feet; thence East 223.20 feet to the Point of Beginning; thence
North 23.50 feet; thence East 56.50 feet; thence South 23.50 feet; thence West 56.50 feet '.
to the Pornt of Beginning.
And less and except
(M2S3S347;2)
All air space necessary to incorporate the areas designated in Exlnbit":8" as "Developer
Retained Area". set forth in the Declaration of Condominium filed in Official Records
Book 17283, Page 2579.
TOG.I:Hl'i.hK WITH PARCELS 2 TIrROUGH 13 AS FOLLOWS:
PARCEL 2: .
'.Co1llIIl.enceattbeSouthwest comer ofr~t."L", less.the North tOO.feet, wid the South : ~.
200 feet ~t: ~g to the AMENDED PLAT. OF NORTH BrsCAYNE BEACH,
: . according.'~..the:E~ thereo~.~.~~~.~.~:P1at.:aQt?~ 44, P~ge 42 oftbe Public RecordS,:", ",' '.'i;" ,",
ofMiami-DadeCouiltY. FlOrichi;theD.ce ~t on an as&umed bearing along the North line:'
, of the South 200 feet of said' Tract "L"s42.37 feet to a point; thence North 91.85 feet to :- . -" '
" the Point. of Beginning; thence'c~ North lS.2() feet; thence East for 36.15 fee~'.:,' , ' "
thenCe SoUth fot, 1520 feet; thence.West. ,for 36,15 feet to ,the PomtofBeginning.;' ~
, {AJKIA COffee'Snop} ....:::':,~. ,....., " :., '-'
:, .;:.:~ .
". ;, .'~ :: . . '. '.. '. :
......
"PARCEL 3:
~ '. ;. ."
'. '. ..' ... .
, ,
, ,
.,COnllnence: at ,tbeSouthweSt corrier Of Tract ir1,". less the North 100 feet and the South"
, 200 feet thereof,' according to the .AMENpED PLAT OF NORTH BISCA YNE BEACH;
, according,~ the Plat thereof, as recorded in Plat Book 44, page 42 of the Public Records , :,.:, '
. of:Mialni,.DadeCouitty. Florida; thence:Ea$t'oIi an assumed beariIig along the Nprthlirte: >~: '. '. ,:>"1' ,", " "~.i'.
, , '; ~fthe"South20.0feeN)fsaid~Tract!'L"~'42j7feetto-a'point; then.ceNorth 107.50 feet ti{."~ . tj<"i:/., ,
'" ., ".. the,'PomtofBegi!Jriine;thenccf"c~'~'Nbitb46;SO'feet to a Point;thenc~North y~':".,:.,: '~..I1.:~,;.i
5iegr~ 52 D1inrit~43secq:rids.'East/2()"'oO [eelt<) ~.,;point; thence East. 44JSO . feet to a:~.' " '. '.'
" :pomt; .thence'SoUt1i6050feet:tOa.:pOi:tit(:thence.West 46.15 feet to the Point Df:~ '.. ",:'/.
Beginning; , , , . '. ."", ,.
; ".:,
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.1.. .jo.,.......
PARCEL 4:
Commence at the Southwest comer of Tract "L R less the North 100 feet and the South
200 feet thereof, accordii1g to the AMENDED PLAT NORm BISCAYNE BEACH,
recorded in Plat Book 44. Page 42 of the Public Records of Miami-Dade COl.II!ty, Florida.;
thence East on an assumed bearing along the North line of the. South 200 feet of said
Tract ilL", 285.70 feet; thence North 37.95 "reet to the Point ofBeginn,ing; thence North
30 degrees 00 minutes 00 seconds West 7.00 feet; thence North 30 degrees 00 minutes 00
seconds East, 7.00 feet; thence EaSt 7.00 feet; thence South 30 degrees 00 minutes 00
seconds East 7,00 feet; thence South 30 degrees 00 minutes 00 seconds West 7.00 feet;
thence West 7.00 feet to the Point of Beginning.
PARCELS:
Commence at the Southwest comer of Tract RL". less the North 100 feet and the South
200 feet thereot: according to the AME-,1)ED PLAT NORTH BlSCA YNE BEACH,
recorded in Plat Book 44, Page 42 of the Public Records of Miami-Dade County, Florida;
thence East on an assumed bearing along the North line of the South 200 feet of said
Tract "L"; 308.70 feet; thence North 3'7.50 feet to the Point of Beginning; thence North
(M253S347;2}
18.00 feet; thence East 24.00 feet; thence South 18.00 feet; thence West 24.00 feet to the
Point of Beg;nning
PARCEL 6:
Commence at the Southwest comer of Tract "VI. less the North 100 feet and the South
200 feet thereof. according to the AMENDED PLAT OF NORTH BISCAYNE BEACH. .
recorded in Plat Book 44. Page 42 of the Public Records of Miami-Dade County. F1orida~
, thence East on ailassumedbearin.g.along the.Nortbline oftbeSouth 200 feet of said
.' Tract "Ln. 42.37 feet to a point; thence North 145.95 feet to a point; thence on a 'Vertical
'H ,'.angleof 90 degrees.from thepiolQngatiOIiofthelastcourse'lO.OO.feet to 1hePoint ot' . ,. '" d.
.. Begimiing; then~e North'3'degrees.53' minutes .13 seconds EaSt 20.00 feet to a point;' .,,);'.;:":: ", ~", " ,
,thence EaSt'4430'feet to. a pOint; thCnce"South 36;-OO~feeno aj>oiirt; thericeWest 8;00':;:.....>.. :.",:", >:.';'
',' feet; tJienceNorth 16;OOfeet;.tbenceWest-37.65feetto thePoirifofBeginnhig.<::' <",:\./
: . .~
PARCEL 7:. . .
". I' '. '
'.. "
. .
, . Commence at the Southwest camerof Tract ''L'\ less the North 100 feet and the South.... .' .. ...
200 feet tbereof;.according to the AMENDED PLAT NORmBISCA YNE BBAca; :. .: .'
. recorded:inPlatBook44; Pag~ 42 of":tbe'PUblic' Records of.Miami~Dade .COunty,.F!oriqa( .-.~.'.~; .:'. 'j' ::)-: "::(:.' ;' ""
'. thence on an assumed bearing. along the North lirie'of the South 200 feet of said Tract. ,.'
. "L'';66.56 feet; thence North'for 39;OS'feet,to;tbeI>oint ofBeginning;fuence con:tinu~:"':'Y ;':'
North l6.50feetto a point,on:.a, cuz.-v~ :concav-eto:the Northwest; thence Eaiterlyalong""..;..' " .'.'. "~"'" ~;~ ':~,
.' ~ arc.of:said curve having Ii radiUS, of. 4.0.. feet. and',a central angle of 57 'degrees 00"" .'" '.' .. ""
minutes 00 seconds for.3'.98 -feet.to a;-poiri.t;:.theriee East for 8:65 feetto a 'point; therice"';' ' ':': .,:,'; L .
SoUth for 6~82feet; thence.Eastfor;"l3.17 fecl;'fuence Sbuthfcir.l1.00 feet;' thence WeSt,. . '.'. , i_':':'::'
(or 24.50 feet to the Point of Beginning;' )..:, '. . ,. ':'.y
. . ~ .
. ~ '.",'.
P AReEL 8:
Commence at the Southwest corner of Tract "L". less the North 100 feet and the South
200 .feet thereof;. according to the AMENDED PLAT OF NORTH BISCAYNE BEACH,
recorded in Plat Book 44. Page 42 of the Public Rec.ords of Miami-Dade County. Florida;.
thence East on an assumed bearing along the North.line of the South '260 feet of said
Tract "L"., 66.56 feet; thence North for 50.57 fe:et; thence continue North 5.00 fe~t to 'il -
point. on a curve to the Northwest; thence Easterly along the arc .of said curve having a
radius of 4.00 feet and a central angle of 57 degrees 00 minutes 00 seconds for 3.98 feet
to the Point of Begimring; tJlence continuing along the arc of said curve for 2.30 feet to
the Point of Tangency; thence North 19.00 feet to a point on a curve conca'\l'e to the
Northwest; thence Easterly and Northerly along the arc of said curve haviDg a radius of
2.30 feet ami a central angle of 90 degrees 00 minutes 00 seconds for 3.61 feet; thence
East 5.70 feet; thence South for 13.60 feet; thence East for 13.17 feet; thence South for
16.70 feet; thence West. for 13.17 feet; thence North 6.82 feet; thence West for 8.65 feet
to the Point of Beginning.
P AReEL 9:
Commence at the Southwest comer of Tract "L II, less the North 100 feet and the South
200 feet thereof. according to the AMENDED PLAT NORTH BrSCA YNE BEACH,
(M2535347;2)
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recorded in Plat Book 44, Page 42 of the Public Records of Miami-Dade County, Florida;
thence East on an assumed bearing along the North line of the South 200 feet of said
Tract "L n, 170.21 feet; thence North 39.62 feet to the Point ofBeVrning; thence continue
North 27.16 feet; thence East 13.10 feet thence South 12.76 feet; thence West 7.70 feet;
thence South 14.40 feet; thence West 5.40 feet to the Point of Beginning.
P AReEL 10:
. Commence at the'So:uth~:~er:of Tr:i!c'L"L",le$S the North 100 feet and the South ....
200 feet thereot:according tot1leA.M:ENDJID PLAT OF NORTIIBISCA YNE BEACH, .
recorded in PIlltB90:k:44~~~ge~?:.()f~~licRecl?rcls.ofMiami-Dade County, Florida;" . ,
thenCe East onan.f1.S~,l,l~g.~<mgthe~Nortb.:JiI~e:oftbe South 200 feet of sai~f . ....
. T~ ilL"; tiieJJ~ 2~p.Q5:f~t; tl;l.~~ N~J2~;2~ f~tQ the PClint of Beginning; thence ':.' ..." .:.'~
'. continue.- North 143(},f~1heD.~::~, 1l,POf~t; tJ;te.nce. So!rlh 143Q feet; thence west. .'. . . ,; '.::" ,; .:>3
11.00 feet to.thffPoiIitof-Beginning; .' .
..;....-
'.' ,..-
.;. !"
PARCEL 11:
, Commence at the Southwest: <:om:et."pfTriic.t ~~,Jess~ N:orth loo.'feet and the South..
.200 feet thereot:~rmng'tQ:th~:AM;ENDEP.l'LAr- NORTHBISCAYNE BEAca"..::. ......
recorded in Plat Book 44; Pllge4~'Qfthe.:Publiq.Records,.ofMiami-:Oade County, Floridi; .'
thence East on'anassu:rned,b~g,along;tbe-,No:rth line' of the South 200 feet ofsaid:"-
Tract "V'. 66.56feet;:tben~'North .sO,S7 :ieett.th!mce .Qnayer.tic~l angle. of 90 degr~-;': .
from.the prolongatiPn:'9f:~ : !fiSt, c.ourse;.! t O;QQ .feetto- .th.e, p()int 'of Beehm;ng; then~ '.:: .....
'c.' _North,16AS,feet toa::pointon:.:a,c~~;con.qav~ to: t:he'Nqrth~c:st; thence Easterly along~ " .
'thearcofsaid~,:haYinga'~usof~4.5,J~t',and:a centra1llIlg1e of90 degrees far7.0T' .. .
feet; thence-North.J6A2.;f~Uo;i:PQint.on'.a,cu:rVeconcave to the Northwest; thence"'>"':':': '.'
Easterly along the arc of said c:ur-vebemg a radius of 2.50 feet and a central angle of 90"
degrees for 3.93 feet; thence East 4.50 feet; thence South 30.50 feet; thence East 7.10
feet; thence South 11.00 feet; thence West 18.60 feet to the Point of Beginning.
.;. :';~~. ,,:
. '..;. ~ '. .'" :';~
: .'; '<'~ -': ~:~t
. . ,7..: ....~... i
.... .'.~~~.~:::~
PARCEL 12:
Commence at the Southwest comer ofT~t "L", less the North 100 feet and the North
200 feet thereof,-according to the A.MEN1;)ED PLAT NORTH BISCAYNE.BEACH,
recorded in Plat Book 44, Page 42 of the Public Recon:lS of Miami-Dade Co1lIlty, Florida;
thence. East on an assumed bearing along the North line of the South 200 feet of said
Tract "V" 246.05 feet; thence North 140.38 feet; thence on a vertical angle of 90 degrees
from the prolongation of the last course' 16.25 feet to the Point of Beginning; thence
North 21.10 feet; thence East 16.10 feet; thence South 21.10 feet; thence West 16.10 feet
to the Point of Beginning. .
PARCEL 13:
All of Tract ilL" less the South 200 feet thereof and less the North 100 feet thereof, of
AMENDED PLAT OF 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; Less and except therefrOm Parcel's 1 through 12, inclusive, as descnoed above.
{M2535347;2}
~ BK 25587 PG 4777
'- AST F"AGE
Said Parcels 1 through 13, inclusive, are also known as:
PARCEL 1:
All of GOLDEN NUGGET BEACH CLUB AND HOTEL, a Condominium, according
to the Declaration of Condominium thereo~ as recorded in Official Records Book 17283,
at Page 2579, as amended, ofllie Public Records of Miami-Dade County, Florida.
AND
PARCEL 2:,' , ..... ..
. ., ~
. .' ,", .,...., .'- ::""',
;.....;., "'-'". .-. ,.....:.
. .. .. .
....';..
. . .' .' : -' . .. .
. ....,...... ':'. .
. .. AllofTiact:ilV.!:less,the';South;200)feet;th~eofarido1essthe,'North100 feet thereof, of.:; '"
'. 'AMENDED.PLAT.0F;N<DRlH'BISCAYNRBEACH,'accOrdmg to the Pl:;tth~f, ~.,~:..., >i; >.!;'i,.::
. . recorded in. Ptat".Book~44, at Page 42, of the' Public Records of Miami-Dade CountY, '. . ~""; > ': ',:.'>
. . Florida, ALSO LESS AND EXCEPT, those- portions thereof that were submitted to :.,' . ..
condominium pursuant to the. Declaration of Condominium of GOLDEN NUGGET
BEACH CLUB AND HOTEL, a Condominium, according to the Declaration of"
Condominiuin-there()fH:is: reeorded in bfficial.Rec6rdsBook 17283; at Page 2579, as..... ,: : .,.'
amended, of the Public:Records ofMiariri-DacleCounty; Florida. -. .
',,' ...;.... .:..... ".:.., .,'
.. ,~'... -... . ..... '~.'.. ~: . '. .
. '.
.l-~:.j":,::<.;~ .~~:.:<.-:.'.:;::.....::..f..... ..< ~'i':_,: - .:.... ........,..~'..
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. ."::~",:,~...;:-.~::. :~". ':): ':r- .:;!' .'~" ....:-::..>:'.
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:":~~:-.:: <~",,",:";::\"~ ":.:.: :.'.:-. .~~. .':--
.... ..:.:',-:-', ':
{M2535341;2 }
A SUMMARY APPRAISAL REPORT
OF
THE UNDERLYING LAND OF THE GOLDEN NUGGET HOTEL
. LOCATEDAT
18555 COLLINS AVENUE,
SUNNY ISLES BEACH, FLORIDA 33160
Appraisal No. o9-il-377
FOR
GILCO Realty LC
c/o Mr. Andrew Richards
Vice President of Development - Trump Grande
18001 Collins Avenue, 3 pI Floor
Sunny Isles Beach, Florida 33160-2722
BY
APPRAISALFIRST
Real Estate Appraisers, LLC
8525 NW 53rd Terrace, Suite 110
Miami, Florida 33166
-.
- AppraisalFirst .
. Real Estate Appraisers LLC
8525 NW 53nl Terrace, Suile 110
Miami, Florida 33166
Phone: 305-470-2100
Fax: 305-470-2105
E-mail: residentialfalBDraisalfirst.net
E-mail: commercial@BpprBisalfirst.net
September 20, 2011
GILCO Realty LC
c/o Mr. Andrew Richards
Vice President of Development - Trump Grande
18001 Collins Avenue, 31 st Floor .
Sunny Isles Beach, Florida 33160-2722
Re: The underlying land area of ~e Golden Nugget Hotel located at 18555 Collins
Avenue, Sunny Isles Beach, Florida 33160.
Dear Mr. Richards:
As requested, I have prepared the attached summary appraisal report, containing 29 pages
plus addenda, of the above referenced property. The purpose of the report was to estimate
the "As Is" Market Value of the subject property, (Vacant Land), as a fee simple estate, as
of September 9,2011.
" .'
Market Value may be defined as the most probable price which a property should bring in
a competitive and open market under all conditions requisite to a fair sale, the buyer and
seller, each acting prudently, knowledgeably and assuming the price is not affected by undue
stimulus.
The subject property consists of a 2.208 acre or 96,162 square foot site located along the east
side ( ocean side) of Collins Avenue, at about 185th Street, lying the incorporated City of
Sunny Isles, Beach, Florida. The property is currently improved with a two-story
condominium-hotel building that was built in 1956 and contains 120 units. The
condominium units and common elements are listed. under a single ownership entity, Gilco
Realty LLC. The subject property of this appraisal is the underlying land area.
GILCO Realty LC
c/o Mr. Andrew Richards
Page Two
This is a summary appraisal report which is intended to comply with reporting requirements set forth
under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice and
FIRREA. As such, it presents only summary discussions of data, reasoning, and analyses that were
used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation
concerning the data, reasoning, and analysis is retained in the appraiser's file. The three approaches
to market value in an appraisal report include the Cost, Sales Comparison and Income Capitalization
Approaches. When appraising vacant hind the only applicable method of valuation is the Sales
Comparison Approach.
U1e appraisal report is for the sole use of the listed client, or its assigns. "Readdressing an appraisal
report to another party that was completed and.delivered to a client is prohibited by USP AP. Once
the assignment is completed, it is misleading to try to add a new party as client or intended user who
was not the original client or identified intended user." Any requests for updating or re-certification
would constitute a new assignment at an additional fee.
It is my understanding that the intended use of the appraisal report will be to assist the client in
negotiation with the City of Sunny Isles Beach, Florida to purchase Transfer Development Rights
(TDR's). The intended user of this appraisal is the client stated herein, its general council and/or
aSSIgns.
This appraisal report is in compliance with the minimum standards of the 2010-2011 Uniform
Standards of Professional Appraisal Practice (US PAP), Title XIofFIRREA.
.The value opinion reported is qualified by certain definitions, limiting conditions and certifications
which are set forth on pages 26 through 29 of this report. This report includes no hypothetical
conditions nor extraordinary assumptions.
The appraiser has previously provided consultation and value estimates for properties similar to the
subject property throughout the South Florida region. As such, the appraisers are in compliance with
the competency provision contained within USP AP. A copy of the appraiser qualifications is
included in the addenda.
I have not provided professional services related to the subject property, as an appraiser or in another
capacity, within the prior three. years.
OILCD Realty LC
c/o Mr. Andrew Richards
Page Three
By virtue of my investigation and analyses, it is the opinion of the appraiser, that the "As Is" Market
Value of the subject property, (Vacant Land), as a fee simple estate, as of September 9, 2011, is:
TWENTY THREE MILLION SEVEN HUNDRED FIFTY THOUSAND DOLLARS
($23,750,000)
$65.00 Per SF of Allowable FAR
Respectfully submitted,
~/
Frank Hornstein, MAl
State-Certified General
Real Estate Appraiser, No. RZ1376
- I
, ,.
EXECUTIVE SUMMARY
Property Type:
A multi-family zoned.parce1 of land
Report Type:
Summary
. !
Intended Use:
The intended use of this appraisal is to help negotiate the purchase
price of Transfer Development Rights (TDR's).
Intended User:
GILCO Realty LC, its general council and/or assigns.
Location:
18555 Collins Avenue,
Sunny Isles Beach, Florida 33160
Site Description:
Site Size:
96,162 square feet or 2.208 acres
MU-R, a mixed use resort district by the City of
Sunny Isles Beach, Florida.
X, AE, VB (See Addenda)
1.15
Zoning:
Flood Zone:
Census Tract:
Current Use:
The Golden Nugget Hotel, a 120 unit
condominium-hotel completed in 1956.
58-story condominium tower with 132
residential units. The proposed project, to be
!mown as Porsche, is anticipated to have an
FAR of5.19.
Proposed Use:
Highest & Best Use:
Future multi-family development in accordance with the current
zoning code and LDR of Sunny Isles Beach, Florida.
Date of Value:
September 9,2011
.: I
Date of Report:
September 20, 2011
Marketing/Exposure Time: Within 12 months.
Property Rights Appraised: Fee Simple Estate
VALUE INDICATIONS:
Sales Comparison Approach:
Final Per SF of Allowable FAR
$23,750,000
$65.00
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Preview
Page 1 of 1
City of Sunny Isles Beach
18070 Collins Avenue
Sunny Isles Beach, Florida 33160
(305) 947-0606 City Hall
(305) 949-3113 Fax
MEMORANDUM
TO:
The Honorable Mayor and City Commission
FROM:
Alex A David, AICP City Planning Consultant
DATE:
11/17/2011
RE:
Porsche Design Residences 18555 Collins Avenue Zoning Appl. No.
Z2011-04
RECOMMENDATION:
Staff recommends Approval of this application, subject to conditions.
REASONS:
Project is in accordance with the procedures set forth in Chapter 265-11 and 265-18.
ADDITIONAL INFORMATION:
The applicant, OILCO Realty, L.c., is requesting site plan approval for a proposed 57
story, 132 unit condominium building with 500,039square feet and is intended to utilize
1.50 Floor Area Ratio (FAR) bonuses. The applicant is also applying for transfer of
development rights (TD Rs) in the amount of 115,391 square feet of floor area.
The property is currently improved with a 2-story condominium-hotel building known as
the Oolden Nugget. The structure was built in 1956 and contains a total of 120 residential
units. All units are currently owned by the applicants.
ATTACHMENTS:
. Zoning Hearing Notice
. Development Review Report
. Zoning Application
. Appraisal Summary
. Notice of Public Hearing
http://sibagenda.sibfl.net/agendalPreview.aspx?ItemID=644&MeetingID=O&MeetingDat... 11/1 012011
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