HomeMy WebLinkAboutReso 2018-2893 ` RESOLUTION NO. 2018 - 2893
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH,FLORIDA, CONFIRMING THE BALANCE
OF TRANSFER OF DEVELOPMENT RIGHTS ("TDRs")
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 FOR TDRs BANK ACCOUNTS; PROVIDING THE CITY
MANAGER WITH THE AUTHORITY TO DO ALL THINGS TO
EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
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 Transfer of Development Rights owned by the City and private owners attached as
Exhibit "A".
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 20th day . Dece• ber 2018.
George • . Scholl, Mayor
(11.2,—
rgAT I k S1T: '
t5 (D
'Y Mau l'cio 1etaniur; CMC, City Clerk
C 0
APPROVED AS TO FORM
AND LEGAL SUFICIENCY
I
F.1l
H.IrQ'ttinot, City Attorney
�/ Moved by: C A ;;(0IJa-CV{ejl-1/\1
Seconded by: V l e.0 • (Wig C lbili{J
Vote:
Mayor Scholl ✓ (Yes) (No)
Vice Mayor Goldman (Yes) (No)
Commissioner Gatto I(Yes) (No)
Commissioner Svechin (Yes) (No) •
Commissioner Viscarra V (Yes) (No)
CITY OF SUNNY ISLES BEACH
TRANSFER DEVELOPMENT RIGHT- BANK ACCOUNT
DEVELOPMENT RIGHTS FROM CITY OWNED PROPERTIES
PROPERTIES Sq. Ft. Units
1. Golden Shores Park • 11,532 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 SlBlvd 53,905 11
10. 151 SlBlvd (RK) 223,879 95
11. 16200 Collins Ave. (Plaza Isles) 89,951 50
12. 16100 Collins Ave. (Koslosky) 86,095 47
13. SlBlvd Parking(Milton) 53,905 12
14. Steiger Property- 16050 Collins 74,530 41
15. Marks, et al 215-255 SIB 223,879 95
16. TRG Sunny Isles (16000 Collins Ave) 77,250 38
17. Dezer Sales Center(15800 Collins Ave) 80,000 38
18. Corner House 62,685 30
19. Turnberry Sales Center 24,634 9
Total TDRs from City Owned Properties since
2,370,282 1,187
Adoption of TDR Ordinance
41110
Last update on November 2018 Page 1 of 4
179
Sq. Ft. Units
Total TDRs from City Owned Properties since Adoption of TDR Ordinance 2,370,282 1,187 IP
Development Rights Used Or Transterred To Used Sq. Ft. Used Units
Private Development From City TDR Bank
1. , Fortune Beach 124,991 . _ 72 I
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**** 637820 3-7
7. Regalia 54;385 31
8. St.Tropez II 32,759 17
9. TRG Desert Inn Venture 9,757 5
10. R.K.'Associiates(Donation)* 58,500 30
11. Plaza Isles (Donation)* 40,000 20
12. Urbis& Key Int. 1,869 1
13. Milton/St.Tropez(Donation)* 29,403 12
14. Dczcr Development, LLC(Donation)* 0 0
15. Gilco Realty/Porsche(Donation)**81,000 42
16. 18555 Collins Dcv., LLC *** 0 0
17. LPLA Partners, LP 25,000 9
18. Gold Club, Inc. (Donation) 20,000 10
T9- Towne Center Development(St.Tropez) 94,680 45
21 Temple B'Nai Zion, Inc. 15,000 5
22 Beach Acquisition, LLC(*****) 113,199 46 0
23 GSF Acquisitions. LLC(Palazzo) 15,797 7
24 Ritz Carlton 49,098 23
25 Marriott(******) 9,671 6
26 Armani Casa 133,750 63
27 Varadero 283,485 120
28 18590 Collins Ave Acquisition 75,000 35
29 Ruslan Krivoruchko 361 0
30 Alexey Knyshov 229 0
31. Estates at Acqualina 27,147 13
32 NDPRE#14 LLC(Navarro) , 126,615 56
City's TDR Bank Account Total: 2,370,282 1,187
Subtract Subtotal:, 1,843,426 ' : 912
TDR BALANCE TOTAL: 526,856 275
Property was acquire back to City-Alamo property
Donation provided an exchange for real property donated to the City.
TDRs were not used and transaction was cancelled.
TDRs were transferred to'a private sub-account.
TDRs credit from Temple B'Nai Zion transaction (15,000 sq ft and 5 units).
TDRs were reduced=approved under R2016-2536(4,095 sq ft and 2 units).
110
180
CITY OF SUNNY ISLES BEACH '
TRANSFER DEVELOPMENT RIGHTS BANK ACCOUNT
ACCOUNTS TDR FUNDS COLLECTED TDR FUNDS UNCOLLECTED
0 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. S .Tropez 2,184,711.00 0.00
5. =Trg Sunny Isies 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 1,625,000.00 0.00
15. 18555 Collins Dcv.,LLC 0.00 0.00
16. Fort Apache 517,275.00 0.00
17. Abus,LLC (Mr.Grosskopf) 46,270.00 0.00
18. Abus,LLC (Mr.Grosskopf) 1,484,940.00 *** 0.00
19. Town Center Development(St.Tropez) $1,893,870.00 *** 0.00
020.
Beach Acquisitions,LLC(Turnberry) 11,070,625.00 0.00
21. GSF Acquisitions.LLC(Palazzo) 697,463.00 1,277,162.00
22. Ritz Carlton 6,127,250.00 0.00
23. Marriott 415,853.00 0.00
24. Varadero 3,543,560.00 26,060,625.00
25. Balcony enclosures(Mansions) 73,750.00 0.00
26 A3 Development,LLC(Estates) 339,337.50 3,054,037.50
Uncollected
TOTALS: Collected Funds $64,802,704.75 Funds 30,391,824.50
These developments paid 10%of non-refundable deposit,but development orders expired. TDR'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.
TDRs were reverted to City TDR bank-TDRs were not used by developer.
Deposit of$500,000 was added to the Estates at Acqualina project-uncollected amounts subject to promisory repayment agreement
Uncollected Funds Owed to the City for TDRs
Sq.Ft. Units TDR Funds Uncollected
Transactions
1. GSF Acquisitions.LLC(Estates)15,797 7 $1,277,162.00
2. Varadero 283,485 120 $26,060,625.00
3. A3 Development,LLC(Estates) 27,147 13 $3,054,037.50
326,429 140 $30,391,824.50
Total Credit to TDR Bank Total Uncollected Funds
Total TDRs Funds Collected $64,802,704.75
TDR Funds Uncollected $30,391,824.50
41) I Total TDRs Funds(collected and uncollected) $95,194,529.25
Last update on November 2018 Page 3 of 4 181 -
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