HomeMy WebLinkAboutReso 2017-2737 RESOLUTION NO. 2017 - Z`13�1
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA; APPROVING AN ASSIGNMENT
AGREEMENT FOR THE TRANSFER OF 15,538 SQUARE FEET OF
FLOOR AREA AND 8 DWELLING UNITS OF TRANSFER OF
DEVELOPMENT RIGHTS ("TDRs") FROM REGALIA BEACH
DEVELOPERS, LLC. ("REGALIA") TO A3 DEVELOPMENT, LLC
("A3"); PROVIDING FOR INSTRUCTIONS TO THE CITY'S ZONING
ADMINISTRATOR; PROVIDING THE CITY MANAGER AND THE
CITY ATTORNEY WITH THE AUTHORITY TO DO ALL THINGS
NECESSARY TO EFFECTUATE THIS RESOLUTION; PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, Regalia currently owns 15,538 square feet of floor area and eight (8)
dwelling units of TDRs in a TDR bank established by the City of Sunny Isles Beach ("City"); and
WHEREAS, Regalia has maintained the useful life of TDRs in question by paying an
annual sum of$2,727.00, which is subject to annual increases, for the extension of the useful life
of the TDRs reflected in the attached Exhibit "A"; and
WHEREAS, on or about September 21, 2017, Regalia entered into an Assignment
Agreement to assign and transfer from Regalia 15,538 square feet of floor area and eight (8)
dwelling units to A3 as assignee; and
WHEREAS, the City has reviewed the Assignment Agreement between Regalia and A3
and has no objection to the assignment of 15,538 square feet of floor area and eight (8) dwelling
units to A3 provided that the annual use life extension payment is made to the City until the TDRs
are assigned to a development project; and
WHEREAS,the City Commission wishes to approve the Assignment Agreement provided
that all conditions are accepted.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH, FLORIDA, AS FOLLOWS:
Section 1. Approval of Assignment Agreement. The City Commission hereby approves the
Assignment Agreement for the transfer of 15,538 square feet of floor area and eight (8) dwelling
units from Regalia Beach Developers, LLC, assignor, to A3 Development, LLC, assignee,
provided that the annual payment is made to the City annually to maintain the useful life of the
TDRs. If the annual payment is not received by the City as required by the City Code, the useful
of the TDRs referenced herein shall be terminated.
Section 2. Instructions to Zoning Administrator. The City Commission hereby directs the
City's Zoning Administrator to create a TDR bank account in the amount of 15,538 square feet of
floor area with eight (8) dwelling units for A3 Development, LLC. and the Zoning Administrator
is directed to close the TDRs bank account under the Regalia Beach Developers, LLC.
Page I of 2
Section 3. Authority of the City Manager and City Attorney. The City Manager and the City
Attorney are authorized to do all things necessary to effectuate this Resolution.
Section 4. Effective Date. This Resolution shall become effecti e upon adoption.
PASSED AND ADOPTED this 21st day of September, 2017.
George ": i d" Scholl, Mayor
ATrTES .
t 'ii' 'N '
t6ei
_ A� Iauricio Betancur,'CMC, Acting City Clerk
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APPROVED AS TO FORM
AND L JA SUFFICIENCY:
WA
1M
6I ns 0 linol, City Attorney �`
Moved by: CbcJ _ "' D
Seconded by: v ti-e 0.1010(L G00
Vote:
Mayor Scholl ✓ (Yes) (No)
Vice Mayor Goldman ✓(Yes) (No)
Commissioner Aelion ✓ (Yes) (No)
Commissioner Gatto ✓ (Yes) (No)
Commissioner Svechin (Yes) (No)
Page 2 of 2
This document prepared by and after
recording return to:
Phillip S. Sosnow, Esq.
Bilzin Sumberg Baena Price & Axelrod LLP
1450 Brickell Avenue, Suite 2300
Miami, Florida 33131
(Above Space for Recorder's Use Only)
ASSIGNMENT OF TRANSFER OF DEVELOPMENT RIGHTS
KNOW ALL MEN BY THESE PRESENTS, that Regalia Beach Developers, LLC, a Florida
limited liability company ( "Assignor"), for and in consideration of the sum of Ten and No/100 ($10.00)
Dollars, and other good and valuable consideration; paid, received from, and on behalf of A3
Development, LLC, a Delaware limited liability company("Assignee"), its heirs, successors, or agents, at
or before ensealing and delivery of the presents, in Miami -Dade County, State of Florida,the receipt and
sufficiency of which is hereby acknowledged and accepted, does hereby grant to Assignee 15,538 square
feet of Transfer of Development Rights representing eight (8) corresponding dwelling units ("TDRs")
held in an account designed for and held for Assignor,with the City of Sunny Isles Beach, Florida.
WHEREAS, Assignor has on deposit in a TDR Bank with City of Sunny Isles Beach, Florida, the
TDRs in an account for the benefit of Assignor as owner of same; and
WHEREAS, Assignor and Assignee entered into that certain Contract For Purchase And Sale Of
Transferable Development Rights dated as of September 21, 2017, 2017 (the "Purchase Agreement")
whereby Assignor agreed to sell and Assignee agreed to purchase the TDRs.
NOW, THEREFORE, in consideration of the mutual promise and exchange between the parties and
other good and valuable consideration, the parties agree and stipulate as follows:
1. The above recitals are true and correct and are hereby incorporated by reference herein.
2. Assignor upon execution of this Assignment, hereby assigns and transfers the TDRs to
Assignee, its heirs, successors, or agents. Assignee agrees that the Assignor's assignment
of the TDRs is without recourse, representation or warranty, express or implicit, except as
otherwise specifically set forth in the Purchase Agreement.
3. The parties hereto agree to execute and deliver such other documents as are required by
City of Sunny Isles Beach, Florida, to effectuate the transfer of the TDRs contemplated
by this Assignment.
TO HAVE AND TO HOLD, the same unto the said Assignee, its heirs, legal representatives,
successors,administrators and assigns forever.
(See Separate Signature Pages)
MIAMI 5603617.1 73190/10719
IN WITNESS WHEREOF, the party herein has caused this Assignment of Transfer
Development Rights to be executed by its duly authorized representative freely and voluntarily
on this 2\�rday of September, 2017.
Witnessed: ASSIGNOR:
REGALIA BEACH DEVELOPERS, LLC,
a Florida limited liability company
+oh / I ,
Print Name: jORNf 6ARO1\) By:
Name: Gu Martin
Title: Vice President–Authorized Signature
Print name: /n401 q Ger/'A/Z_
STATE OF FLORIDA
: SS
COUNTY OF MIAMI-DARE .
The foregoing instrument was acknowledged before me this 0 day of September, 2017 by
Guy Martin as Vice President – Authorized Signature of Regalia Beach Developers, LLC, a
Florida limited liability company, who is personal known to me or has produced
}-L l�L 1A b ;'i 5 Z q 3 --S e 4,a s 0 as identification and who did take an oath.
11°46.2%963‘s
►rf Ds-25
Ofzi) tJ &a /(yz4
Notary Public
MIAMI 5601224.1 73190/48470
Witnessed: ASSIGNEE:
A3 DEVELOPMENT, LLC,
a Delaware limited liability company
�A' J4
Pnn N. •e: ,�„ �� By: C,‘
Name: Crenhmueli
I Art' Title: Cf a J �7
Vrint name:
STATE OF FLORIDA ••
: SS
COUNTY OF MIAMI-DADE
The foregoing instrument was acknowledged before me this 2-i day of a- , 2017
by Oren Shmueli as C Q l!P of A3 Development, LLC, a
Delaware limited liability c mpany, who is personal known to me or has produced
as identification and who did take an oath.
/L4Itk, Azi.d-d•NdLa-d1-1
Notary Public
r r ai(
+•G; ."'•• GLENDA CASWELL HEADRICK
• . -.MY COMMISSION 0 GG 095838
EXPIRES:August 18,2021
em1 AiBonded Thio Notary Peek Undervdleh
MIAMI 5601224.1 73190/48470
INDEMNIFICATION AGREEMENT
This Indemnification Agreement dated this 2.1 S"cday of September, 2017, by Regalia
Beach Developers, LLC, a Florida limited liability company ('RBD"), and A3 Development,
LLC, a Delaware limited liability company ("A3D") in favor of the City of Sunny Isles Beach,
Florida(the "City").
WITNESSETH:
WHEREAS, RBD has assigned to A3D the 15,538 sq. ft. of Transfer of Development
Rights representing eight (8) corresponding dwelling units ("TDRs") held in an account
designated and held for the benefit of RBD with the City; and
WHEREAS, RBD and A3D have agreed to indemnify and hold harmless the City as
hereinafter provided;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for
other good and valuable consideration, the receipt of which is hereby acknowledged, the parties
do hereby agree as follows:
1. The above recitals are true and correct and are incorporated herein.
2. RBD has assigned to A3D the TDRs which are held in an account for the benefit of RBD
with the City.
3. RBD waives any claims against the City arising as a result of the transfer of the TDRs
from RBD to A3D and RBD agrees and does hereby indemnify and hold harmless the
City from any liability as to any claims that may arise between A3D and RBD or any
private parties as a result of the transfer of the TDRs from RBD to A3D.
4. A3D waives any claims against the City arising as a result of the transfer of the TDRs
from RBD to A3D and A3D agrees and does hereby indemnify and hold harmless the
City from any liability as to any claims that may arise between A3D and RBD or any
private parties as a result of the transfer of the TDRs from RBD to A3D.
(See Separate Signature Pages)
•
MIAMI 5603620.1 73190/10719
IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day
and year first above written.
Witnessed: ASSIGNOR:
REGALIA BEACH DEVELOPERS, LLC,
a Florida limited liability company
510 ►
Print Name: 1001.6 STAROM By:
Name: Guy M in
Title: Vice President—Authorized Signature
Print name: /11t7rina Carate
STATE OF FLORIDA
: SS
COUNTY OF MIAMI-DADE
The foregoing instrument was acknowledged before me this 140 day of September, 2017 by
Guy Martin as Vice President — Authorized Signature of Regalia Beach Developers, LLC, a
Florida limited liability company, •who is personal known to me or has produced
FL- NsL \b 3S 2 `�3 S ti 0 S ..D as identification and who did take an oath.
mows DINER
4Plit. MY COMM$SION 25OFP8g6318
EXPIRES:MAY ,2020 /4: 7,1/
1''po'F Bonded On*1st State Imam t aia
Notary Public
MIAMI 5601224.1 73190/48470
Witnessed: ASSIGNEE:
A3 DEVELOPMENT, LLC,
a Delaware limited liability company
Print Name: , _/,„//, By: /"
Name: Oren Shmueli
4WO-- 1 Title: Cfe & I//'
Print name: 4 * . 2k - •
STATE OF FLORIDA •
: SS
COUNTY OF MIAMI-DADE
The foregoing instrument was acknowledged before me this I day of m bcr , 2017
by Oren Shmueli as C 1=b 1 V P of A3 Development, LLC, a
Delaware limited liability company, who is Tersonal known to me or has produced
as identification and who did take an oath.
Notary Public
, GLENDA CASWELL HEADRICK
1. t`: MY COMMISSION#GG 095838
�'7 EXPIRES:August 18,2021
Bolded Thru Notary Puck Urtdere dere
MIAMI 5601224.1 73190/48470