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<br /> <br />City of Sunny Isles Beach <br />18070 Collins A venue <br />Sunny Isles Beach, Florida 33160 <br /> <br />City CommissiOl <br />Norman S. Edelcup, Mayo. <br />Lewis J. Thaler" Vice Mayo. <br />Roslyn Brezin Commissione. <br />Gerry Goodman Commissione, <br />Danny Iglesias, Commissione, <br /> <br />(305) 947-0606 City Hall <br />(305) 792-1565 Fax <br />(305) 947-2150 Building Department <br /> <br />A. John Szerlag, City Manage, <br />Hans Ottinot, City AttorneJ <br />Jane A. Hines, City Clerl <br /> <br />MEMORANDUM <br /> <br />To: The Honorable Mayor and City Commission <br /> <br />Via: A. John Szerlag, City Manager <br /> <br />From: Jorge L. Vera, Assistant City Manager/ Service Division <br />Robert Solera Community Development Director <br />Elena Del Campillo, planning And Zoning Technician <br /> <br />Date: October 18,2007 <br /> <br />Re: Increase to Bonus Participation Unit <br /> <br />In accordance with the City of Sunny Isles Beach Comprehensive Master Plan and the <br />Land Development Regulations staff is presenting to the City Commission for <br />discussion and consideration an increase to the dollar amount being collected under <br />the bonus system. <br /> <br />Since the implementation of the density and intensity bonus program in the Land <br />Development Regulations, the City has tracked the development, real estate costs and <br />the long term Capital Improvement Program. The associated costs of the Capital <br />Improvement Program together with the long term needs of the City; necessitates a <br />closer nexus between the current value of the bonus program and the increase in <br />property value and Capital Improvement Program. <br /> <br />In 2006, the City Commission approved an adjustment to the value associated with <br />the bonus participation unit under the bonus program for certain districts in the Land <br />Development Regulations of the City of Sunny Isles Beach. At the time, the <br />commission approved the value increase for a bonus participation unit from $35,000 <br />to $50,000. Since then, the City has been reviewing the bonus participation unit price <br />and it is apparent that the current value of the bonus participation unit is not keeping <br /> <br />Agenda Item CJ A <br /> <br />Date /d-13~07 <br />