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Home My WebLink AboutReso 2009-1480RESOLUTION NO.2009 -j_�Yo A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, CONFIRMING THE BALANCE OF DEVELOPMENT RIGHTS CURRENTLY HELD IN THE TDR BANK ACCOUNTS HELD BY THE CITY OF SUNNY ISLES BEACH AND PRIVATE OWNERS, ATTACHED HERETO AS EXHIBIT "A "; REQUIRING YEARLY UPDATES OF ACCOUNT BALANCES HELD BY PRIVATE OWNERS AND THE CITY; PROVIDING THE CITY MANAGER WITH THE AUTHORITY TO DO ALL THINGS TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City continues to seek to create more open space, parks, and recreational facility and the need for recreational facilities has been facilitated by the development rights ordinance ( "TDR" Ordinance); and WHEREAS, the TDR Ordinance has played an instrumental role in making the City greener by facilitating the creation of open space throughout the City; and WHEREAS, the City Commission wishes to confirm the amount of TDRs currently owned by the City of Sunny Isles Beach and private owners. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS: Section 1. Development Rights Account Balance. The City Commission hereby confirms the balance of development rights owned by the City and private owners. Section 2. Authority of the City Manager. The City Commission hereby directs the City Manager or designee to provide yearly updates of TDR Bank account balances. Section 3. Effective Date. This Resolution shall become effective upon adoption. PASSED AND ADOPTED this �'�` day of 2009. ATTEST: TDR Bank Account Resolution Page I of 2 A' Jane A. Hines, City Clerk APPROVED AS TO FORM AND LE SUFFICIENCY: ity Attorney Moved by: Seconded by: aV,t*�%,&1_QI0ft C.�3O1,VYlf v Vote: S —(D Mayor Edelcup _(Yes) (No) Vice Mayor Thaler (Yes) (No) Commissioner Goodman ✓(Yes) (No) Commissioner Brezin �/ Yes) (No) Commissioner Scholl Yes) (No) TDR Bank Account Resolution Page 2 of 2 CITY OF SUNNY ISLES BEACH TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT 10/12/12 Development Rights from City owned properties Sq. Ft. units 1. Golden Shores Park 11,512 2 2. Pelican Community Park 166,240 100 3. Gwen Margolis Park 248,292 143 4. Gilbert Samson Oceanfront Park 162,914 94 5. Porto Bellagio 131,611 72 6. Heritage Park 533,200 283 7. Bella Vista Park 54,232 21 8. Collins Ave. Parkway 11,568 6 9. 287 SIBIvd 53,905 12 10. 151 SIBIvd (RK) 223,879 95 11. 16200 Collins Ave. (Plaza Isles) 89,951 50 12. 16100 Collins Ave. (Koslosky) 86,095 47 13. SIBIvd Parking (Milton) 53,905 12 12. Total 1,827,304 937 Development Rights used or transferred to private development from City TDR bank Page 1 Used Used Sq. Ft. units 1. Fortune Beach 124,991 72 2. S &G Miami Beach 31,266 18 3. Mandalay LLC 36,477 21 4. St Tropez 112,905 65 5. Trg Sunny Isles 177,262 103 6. Mansiana /Solis 63,820 37 7. Regalia 54,385 31 8. St Tropez 1I 32,759 17 9. TRG Desert Inn Venture 9,757 5 10. R.K. Associates 58,500 30 11. Plaza Isles 40,000 20 12. SIBIvd Parking (Milton) 29,403 12 13. Urbis & Key Int. 1,869 1 Subtotal 773,394 432 Current Balance of TDR Bank 1,053,910 505 Page 1 CITY OF SUNNY ISLES BEACH 9/14/2009 TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT Development Rights Fund Account * These developments are paying interest on the remaining balance as per agreement with the City ** This development received a credit from the City * ** These developments paid 10% of total TDR amount due to City. Projects that have defaulted on the Development Order TDR funds collected TDR funds uncollected 1. Fortune Beach 7,558,863 2. S &G Miami Beach 160,920 1. Da Vinci 3. Mandalay LLC 1,324,066 3,563,741 * 4. StTropez 2,184,711 18 5. Trg Sunny Isles 13,287,559 51,749 6. Mansiana /Solis 4,458,149 697,868 * 7. Da Vinci 395,917 * ** 8. Regalia 3,214,592 1,285,614 * 9. Ocean Palm 374,926 * ** 10. Urbin & Key Int. 72,866 11. Sunny Isles Resort 681,016 * ** 12. TRG Desert Inn Venture 1,282,655 13. StTropez II 116,261 * ** 841,580 ** Uncollected funds $2,825,062 Total collected funds $35,112,501 * These developments are paying interest on the remaining balance as per agreement with the City ** This development received a credit from the City * ** These developments paid 10% of total TDR amount due to City. Projects that have defaulted on the Development Order * These developments paid 10% of total TDR amount due to City. Page 2 Sq. Ft. Units TDR funds uncollected defaulted dev. order 1. Da Vinci 42,368 24 3,563,741 * 2. Ocean Palm 33,688 18 3,374,341 * 3. Sunny Isles Resort 51,749 28 6,129,151 Total credit to TDR Bank 127,805 70 Total uncollected funds $13,067,233 * These developments paid 10% of total TDR amount due to City. Page 2 PRIVATE TRANSFER DEVELOPMENT RIGHTS ACCOUNTS 10/12/12 Account Name Sq. Ft. Units Urbis Key International 81,675 45 Jerrys Famous Deli 101,640 56 Fort Apache Marina 34,485 19 Masiana/ Solis 4,874 3 Paramount 126,737 70 St. Tropez II 29,403 12 R.K. Associates, Inc 58200 30 Plaza Isles 40,000 20 TOTAL 477,014 255 Page 3 SJNNY /S4 City of Sunny Isles Beach ,° �< 18070 Collins Avenue ° Sunny Isles Beach, Florida 33160 (305) 947 -0606 City Hall (305) 792 -1565 Fax (305) 947 -2150 Building Department C/TY OF SUN PLO MEMORANDUM To: Honorable Mayor and City Commission Via: Rick Conner, City Manager From: Jorge L. Vera, Assistant City Manager/ Service Division Date: September 17, 2009 Re: City of Sunny isles Beach Transfer of Development Bank Account City Commission Norman S. Edelcup, Mayor Lewis J. Thaler„ Vice Mayor Roslyn Brezin Commissioner Gerry Goodman Commissioner George "Bud" Scholl, Commissioner Rick Conner, City Manager Hans Ottinot, City Attorney Jane A. Hines, City Clerk The City has created more open space, parks and recreational facilities that have been facilitated by the implementation of the Transfer of Development Rights (TDR) ordinance. The City Commission wishes to confirm the amount of development rights that is currently owned by the City and private owners. The attachment to this resolution delineates the amount of development rights that are in each transfer development right accounts. There are two types of TDR accounts. One account is for development rights that the City owns. The other is for development rights that a private property owner may have acquired. Page one of the attachment outlines the development rights that the City has acquired during the years. There are 1,827,304 square feet and 937 units from all the properties that the City has acquired. Of that amount the City has sold 742,122 square feet and 419 units to developments that received approval at City Commission. This leaves a current balance on the City TDR of 1,085,182 square feet and 518 units. Page two of the attachment shows the funds collected by the City from the different developments for the purchase of the development rights. Currently the City has collected $35,112,501 from the sale of development rights. There is another $2 million dollars that the City expects to collect in the near future. Making the total amount for funds collected of approximately 37 million dollars. Also on page two there is an outline several developments that received development approval by the City Commission but never obtain their building permit within the required time. These development orders are void and the developer needs to go thru the site plan review process again. At the time of their approval each development requested to purchase from the City a certain amount of development rights. There was a total of 127,805 square feet and 70 units of development rights that were to be purchased by the developers. Since these development rights were never purchased to be used they were credited back to the City TDR bank account. Since there was no purchase the City was unable collect $13,067,233 for those development rights. Agenda Item x Date '�- IT Memorandum September 14, 2009 Page 2 Finally, page three delineates the accounts that show amount of development rights of each property owner or developer. The accounts total amount to 477,014 square feet and 255 units. Each developer has a period of time to sell the development rights or they will loose them.