2016-0121 Regular City Commission Meeting

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Summary Minutes:Regular City Commission Meeting January 21,2016 City of Sunny Isles Beach.Florida 10D. A Resolution of the City Commission of the City of Sunny Isles Beach, Florida,Approving a Promissory Note Between the City of Sunny Isles Beach and Corner House, LLC; Providing the City Manager and City Attorney with the Authority to Do All Things Necessary to Effectuate this Resolution; Providing for an Effective Date. Action: [City Clerk's Note: Item IOD was heard with related Items 10E, 10F and 10G.] City Clerk Hines read the title, and Mayor Scholl reported. Public Speakers: None Commissioner Aelion moved and Commissioner Levin seconded a motion to approve the resolution. Resolution No. 2016-2510 was adopted by a voice vote of 5-0 in favor. 10E. A Resolution of the City Commission of the City of Sunny Isles Beach, Florida,Approving a Donation of Transfer of Development Rights ("TDRs") in the Amount of 75,000 Square Feet of Floor Area and 35 Dwelling Units to Corner House LLC for the Property Located at 18801 Collins Avenue; Directing the Zoning Administrator or Designee to Donate the Aforementioned TDRs from the TDR Bank Account Owned by the City; Authorizing the Adjustment and Modification of the TDR Bank Account;Consenting to the Assignment of TDRs; 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. Action: [City Clerk's Note: Item 10E was heard with related Items 10D, 10F and 10G.] City Clerk Hines read the title, and Mayor Scholl reported that TDRs are probably some of the most misunderstood things in our City but basically we have an Ordinance that was originally envisioned to whereby if somebody would like to donate to the City a piece of land that we would like to use for a park, we are able to take the density from that land in the form of a transferable development right or TDR and compensate the donor of the land with those TDRs which then they can go and sell or utilize to develop in another area of the City. In most cases,that area is the east side of Collins Avenue because with cost of construction and the cost of land is very expensive and so what happens is those TDRs end up on the east side of Collins Avenue. Within our Ordinance it provides the developer building a high-rise a bit more density. Essentially what we do is take density from one area of the City and move it to another where it might be more desirable, and this is a good example of that. Mayor Scholl said what we were able to do is in some cases when we acquire park land sometimes we pay cash, like for instance next door, we paid some cash and some TDRs but normally when the donor of the property has to have a capacity to try to modify the TDRs, and so in this case the donor of the property is a developer who is building the Varadero Project across the street, or one of the partners in the project. And so what we were able to do is work out a deal with that developer to acquire the land strictly for TDRs which is a non- cash transaction for the City but provides the developer with the needed TDRs that he needs for the Varadero Project. This is the lot on the entrance to the Golden Shores neighborhood. He said on that City block we already have an agreement that the back half of that lot will also be conveyed to us when the Tumberry Project breaks ground. So this is the lot on the entrance to the Golden Shores neighborhood which is contiguous to the property that we already made an agreement for. This would be acquired strictly for TDRs. 20