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Item Coversheet Page 1 of 2 <br /> , <br /> ""Y!!. City of Sunny Isles Beach <br /> oft <br /> c, -1, 18070 Collins Avenue <br /> . -' I. Sunny Isles Beach,Florida 33160 <br /> '''• °'4•FLO°'soo'°• (305)947-0606 City Hall <br /> ''o.s,,w' (305)949-3113 Fax <br /> MEMORANDUM <br /> TO: The Honorable Mayor and City Commission <br /> • <br /> VIA: Christopher J. Russo,City Manager <br /> FROM: Claudia Hasbun,Zoning Administrator/Planning <br /> Manager <br /> DATE: 11/19/2015 <br /> RE: Transfer of Development Bank Accounts Annual Update <br /> RECOMMENDATION: <br /> Staff recommends approval of the attached Resolution. <br /> • <br /> REASONS: <br /> The City Commission wishes to confirm the amount of development <br /> rights that is currently owned by the City and private owners under our <br /> Transfer Development Rights (TDR) program. The resolution <br /> • documents delineate the amount of development rights that are in <br /> each TDR account. <br /> Page one of the attachment outlines the development rights that the <br /> City has acquired during the years. There are 2,282,963 square feet <br /> and 1,148 dwelling units from all the properties that the City has <br /> acquired. The changes from FY14/15 is the lot from Dezer <br /> Development, located at 15800 Collins Ave, this property is now part <br /> of the TDRs program. <br /> Page two shows the amount of TDRs the City has transferred to <br /> private parties. The total amount of TDRs transferred is 1,344,318 <br /> square feet and 694 units. There is a current balance in the City's <br /> TDRs account of 938,645 square feet and 454 units as of the date of <br /> this memorandum.The decrease from last fiscal year is 82,864 square <br /> feet and 40 units. This is the result of the Dezer Sales Center TDRs <br /> trade-off,as well as Ritz Carlton, Marriott and Armani casa projects. <br /> Page three of the attachment shows the funds collected by the City <br /> from the sale of TDRs to development projects. Currently the City has <br /> collected$44,819,237.25 from the sale of development rights. There is <br /> another $20,562,317.00 that the City expects to collect in the near <br /> future. <br /> Finally, page four delineates the accounts that show the amount of <br /> development rights owned by private owners. The accounts total <br /> amount to 51,525 square feet and 25 units. There is a change of <br /> 34,245 square feet and 21 units; this is the result of a new account <br /> created in favor of St. Tropez for non-use TDRs in the amount of <br /> 19,287 sq. ft and 9 units (this TDRs are restricted to west side only); <br /> the assignment of Gil Dezer account to Armani Casa in the amount of <br /> 68,694 sq ft and 37 units(account closed); and the remainder TDRs in <br /> favor of Dezer Universal, LLC in the amount of 15,161 sq. ft. and 7 <br /> • <br /> units(Account created for acquisition of the Alamo site). <br /> http://sunnyisles.novusagenda.com/AgendaWeb/CoverSheet.aspx?ItemID=1792 11/12/2015 <br />