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City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />MEMORANDUM <br />TO: Honorable Mayor and City Commissioners <br />VIA: Stan Morris, City Manager <br />FROM: Amy Canales, Planning and Zoning Director <br />DATE: September 15, 2022 <br />RE: Transfer Development of Rights for Balcony Enclosure at Mansions al <br />Acqualina, Unit 602 (Application No. PZ2022-06) <br />RECOMMENDATION: <br />This application is consistent with the City's Comprehensive Plan and the City's Land Developmen <br />Regulations. Staff has reviewed the application requests and has no objection if all conditions are <br />accepted. <br />REASONS: <br />The Applicant is requesting approval for the purchase and assignment of TDRs in the amount of 31 -- <br />square feet of FAR and 0 dwelling units from the City's public TDR bank account. The appraisal repor <br />done by Appraisal First Real Estate Appraisers, LLC., date stamped June 3rd, 2022, reflects the squan <br />foot market value of the subject property (17749 Collins Ave) as $125.00 of allowable FAR. The <br />Applicant has agreed to pay the square foot value of $125.00. Thus, the total TDR purchase i� <br />$39,125.00. The total amount of the approved purchase price of $39,125.00 for the TDRs is due withir <br />ten (10) working days of approval. The effect of the TDRs purchase and approval on the project woulc <br />be an increase in intensity (square footage). <br />ATTACHMENTS: <br />Resolution (Added on 9/15/22) <br />Appraisal Report.pdf <br />TDR Application.pdf <br />Item Number: 10.1.1 <br />483 <br />