HomeMy WebLinkAboutReso 2012-1984RESOLUTION NO. 2012".q
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 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 Manag_er. 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 184-11 day of October, 2012
S. Edelcup,
ATTEST:
Jane A. Hines; City Clerk
APPROVPAS TO FORM
AND LE AL UFFICIENCY
Moved by:
Seconded by:
Vote: 5—b
Mayor Edelcup
__IZ (Yes)
(No)
Vice Mayor Thaler
✓(Yes)
(No)
Commissioner Aelion
✓ (Yes)
(No)
Commissioner Gatto
( Yes)
(No)
Commissioner Scholl
V (Yes)
(No)
DEVELOPMENT RIGHTS FROM CITY OWNED PROPERTIES
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
11
10.
151 SIBlvd (RK)
223,879
95
11.
16200 Collins Ave. (Plaza Isles)
89,951
50
12.
16100 Collins Ave. (Koslosky)
86,095
47
13.
SIBlvd Parking (Milton)
53,905
12
14.
Steiger Property- 16050 Collins
74,530
41
15.
Marks, et al 215 -255 SIB
223,879
95
16.
T Sunny Isles
77,250
38
Total TDRs from City Owned Properties since
Adoption of TDR Ordinance
2,202,963
1,110
Sq. Ft. Units
Total TDRs from City Owned Properties since Adoption of TDR Ordinance 2,202,963 1,110
Development Rights Used Or Transferred To
Private Development From City TDR Bank
Used Sq. Ft.
Used 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 II
32,759
17
9.
FRG Desert Inn Venture
9,757
5
10.
R.K. Associates (Donation)*
58,500
30
11.
Plaza Isles (Donation)*
40,000
20
12.
jUrbis & Key Int.
1,869
1
13.
Milton /St. Tropez (Donation)*
29,403
12
14.
Dezer Development, LLC (Donation)*
33,750
16
15.
Gilco Realty /Porsche (Donation) **
81,000
42
16.
18553 Collins Dev., LLC
15,000
7
17.
LPLA Partners, LP
25,000
9
18.
Gold Club, Inc. (Donation)
20,000
10
Subtotal
948,144
516
City's TDR Bank Account Total:
2,202,963
1,110
Subtract Subtotal:
948,144
516
TDR BALANCE TOTAL:
1,254,819
594
*Donation ofTDRs provided as part of real estate transactions.
* *Donation provided an exchange for real property donated to the City.
2
TRANSFER
DEVELOPMENT RIGHTS BANK ACCOUNT
Sq. Ft.
ACCOUNTS
TDR FUNDS COLLECTED
TDR FUNDS UNCOLLECTED
LPLA Partners, LP
25,000
9
1.
Fortune Beach
$7,558,863.00
$0.00
2.
S &G Miami Beach
$160,920.00
$0.00
3.
Mandalay LLC
$1,324,066.00
$0.00
4.
St. Tropez
$2,184,711.00
$0.00
5.
Trg Sunny Isles
$13,287,559.00
$0.00
6.
Mansiana /Solis
$5,408,502.00 * * **
$0.00
7.
Da Vinci
$395,917.00 *
$0.00
8.
Regalia
$4,119,249.25 * * * **
$0.00
9.
Ocean Palm
$374,926.00 *
$0.00
10.
Urbis & Key Int.
$72,866.00
$0.00
11.
Sunny Isles Resort
$681,016.00 *
$0.00
12.
TRG Desert Inn Venture
$1,282,655.00
$0.00
13.
St. Tropez II
$116,261.00 **
$0.00
14.
LPLA Partner, LLP
$162,500.00
$1,462,500.00
15.
18555 Collins Dev., LLC
$0.00
$975,000.00
16.
Fort Apache
$517,275.00 * **
$0.00
17.
Abus, LLC
$46,270.00 * **
$0.00
18.
Abus, LLC
$484,940.00 * **
$1,000,000.00
TOTALS: Collected Funds
1 $38,178,496.25
Uncollected Funds
$3,437,500.00
* These developments paid 10% of non - refundable deposit, but development orders expired. TDB's were returned to the City.
** This development received a credit of $841,580.00 from the City, as part of a real estate transaction.
* ** Transfer fees collected by the City to release West side only condition.
* * ** The purchase price of $5,156,017.00 was increased by an additional $252,485.00 of interest payments.
* * * ** The purchase price of $4,500,206.00 was decreased by $380,957.00 due to settlement of outstanding loan agreement.
Uncollected Funds Owed to the City for TDRs
Transactions
Sq. Ft.
Units
TDR Funds Uncollected
1.
LPLA Partners, LP
25,000
9
$1,462,500.00
2.
Abus, LLC
0
0
$1,000,000.00
3.
18555 Collins Dev., LLC
15,000
7
$975,000.00 **
* The City is collectiong a minimum 5% interest
per year.
* *TDRs are a contingency purchase that may
40,000
16
$3,437,500.00
Total Credit to TDR Bank
Total Uncollected Funds
revert back to the City.
Total TDRs Funds Collected
TDR Funds Uncollected
$38,178,496.25
$3,437,500.00
Total TDRs Funds
$41,615,996.25
CITY OF SUNNY ISLES BEACH
PRIVATE TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT
Accounts
Sq. Ft.
Units
1.
Abus, LLC
98,996
50
2.
Mansiana /Solis
4,874
3
3.
Paramount
126,737
70
4.
Milton /St. Tropez
29,403
12
5.
R.K. Associates, Inc.
58,500
30
6.
Dezer Development, LLC *
33,750
16
7.
Regalia
15,538
8
TOTALS:
367,798
189
* The TDRs were a donation from the City to develop an office tower. If TDRs are not used for office
tower, TDRs reverts back to the City.
4
F * FL0
C�rY of 5UN PLO
TO:
FROM:
DATE:
RE:
City of Sunny Isles Beach
18070 Collins Avenue, Suite 250
Sunny Isles Beach, Florida 33160
(305) 947 -0606 City Hall
(305) 949 -3113 Fax
(305) 947 -2150 Building Department
(305) 947 -5107 Fax
MEMORANDUM
The Honorable Mayor and City Commission
Claudia Hasbun, Planner
October 18, 2012
City Commission
Norman S. Edelcup, Mayor
Lewis Thaler, Vice Mayor
Isaac Aelion, Commissioner
Jeanette Gatto, Commissioner
George "Bud" Scholl, Commissioner
Christopher J. Russo, City Manager
Hans Ottinot, City Attorney
Jane A. Hines, CMC, City Clerk
City of Sunny Isles Beach Transfer of Development Bank Account
RECOMMENDATION:
Staff recommends approval of the attached resolution developed in conjunction with the City
Attorney's office.
REASONS:
The City has created open space, parks and recreational facilities aided 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
Resolution documents delineate the amount of development rights that are in each transfer
development rights account.
There are two types of TDR accounts. One account is for development rights that are City
owned. The other account 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 2,202,963 square feet and 1110 units from all the properties that the
City has acquired.
Page two shows the amount of TDRs the City has transferred to private parties. The total amount
of TDRs transferred is 948,144 square feet and 516 units. More precisely, the City has sold
705,491 square feet and 396 units to developments that received approval by the City
Commission. The City has donated 242,653 square feet and 120 units to private owners as part of
real estate transactions. This leaves a current balance on the City TDR of 1,254,819 square feet
and 594 units.
Page three of the attachment shows the funds collected by the City from the sale of TDRs to
development Projects. Currently the City has collected $38,178,496.25 from the sale of
development rights. There is another $3,437,500 that the City expects to collect in the near
future upon the expiration of payment extension agreements. Making the total amount of funds
collected approximately $41,615,996.25.
Finally, page four delineates the accounts that show the amount of development rights owned by
private owners. The accounts total amount to 367,798 square feet and 189 units. Each developer
has a period of time to sell or use the development rights or they will lose them. The City imposes
a useful life fee on certain private owners. The fee is generally around $10,000.00 per year.
ATTACHMENTS:
• Resolution
• Transfer Development Rights Account
Agenda Item No.10X
Date 9/17/2009