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<br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33] 60 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br />(305) 947-2150 Building Department <br />(305) 947-5107 Fax <br /> <br />City Commission <br />Norman S. Edelcup, Mayor <br />Lewis J. Thaler, Vice Mayor <br />I~oslyn Brezin, Commissioner <br />Gerry Goodman Commissioner <br />George "Bud" Scholl, Commissioner <br /> <br />Rick Conner, Acting City Manager <br />Hans Ottinot, City Allorney <br />Jane A. Hines, CMC, City Clerk <br /> <br />MEMORANDUM <br /> <br />TO: The Honorable City Commission <br /> <br />FROM: Hans Ottinot, City Attornc~ <br />DATE: March 19,2009 <br /> <br />RE: Amendment of the TDR Ordinance <br /> <br />Recommendation: <br /> <br />The attached ordinance is presented for your consideration. <br /> <br />Reasons: <br /> <br />The real estate crisis has impacted development projects throughout the country. More precisely, <br />the crisis has impacted development in the City by forcing developers to delay construction of <br />projects that were approved by the City Commission. As a direct consequence of the real estate <br />crisis, the City has been approached by several owners of privately owned development rights <br />("TDRs") about extensions for the utilization of TDRs. Under the current TDR Ordinance, <br />private owners are required to withdraw TDRs from the TDR bank within five (5) years of <br />approval of a sender site. By adopting this ordinance, the City Commission will create some <br />flexibility in the code to provide extensions requests. <br /> <br />lattachment <br /> <br />HO/jb <br /> <br />Agenda Item q A. ;)d <br />Date '-/-/ ~ ...()g <br />