Laserfiche WebLink
<br />Summary Minutes: Regular City Commission Meeting <br /> <br />July 14,2005 <br /> <br />City of Sunny Isles Beach, Florida <br /> <br />ION. A Resolution of the City Commission of the City of Sunny Isles Beach, Florida, Opposing <br />the Proposed Amendment to the Miami-Dade County Zoning Code Pertaining to <br />Regulation of Signs and Enforcement of Sign Regulations; Providing for the City <br />Manager and the City Attorney with the Authority to Do All Things Necessary to Effectuate <br />this Resolution; Providing for an Effective Date. <br /> <br />Action: City Clerk Hines read the title and Mayor Edelcup reported, noting that this belongs <br />in the purview of this Commission. <br /> <br />Public Speakers: none <br /> <br />Commissioner Brezin moved and Commissioner Iglesias seconded a motion to approve the <br />resolution. Resolution No. 2005-821 was adopted by a voice vote of 5-0 in favor. <br /> <br />100. Add-On Resolutions: <br />Resolutions memorializing the Transfer of Development Rights transactions that are part of <br />the Site Plan Application filed by TRG Sunny Isles, Ltd., in Item 6A, if the Site Plan is <br />approved. <br />1. A Resolution of the City Commission of the City of Sunny Isles Beach, Florida, <br />Acceptance of the Appraised Land Value of $103,500,000.00 for the Property <br />Generally Located at 15811 Collins Avenue; Providing for Payment in the Amount of <br />$13,287,559.00 by the Applicant for the Transfer of Development Rights (ITDRs") in the <br />Amount of 177,262 Square Feet of Floor Area and 81 Dwelling Units; Providing for 10% <br />Deposit for TDRs; Providing for the Transfer of Certain Number of TDRs to the <br />Applicant Upon Receipt of Certain Payments; Providing for an Adjustment of the <br />Balance ofTDRs from the City's Bank to Reflect the Sale ofTDRs to TRG Sunny Isles, <br />Ltd.; Providing the City Manager with the Authority to Do All Things Necessary to <br />Effectuate this Resolution; Providing for an Effective Date. <br /> <br />Action: City Clerk Hines read the title and City Manager said that this is the breakdown on <br />the TDRs on this project that is coming from the City and the subsequent Resolution. Mayor <br />Edelcup said as part of this step we have to approve the appraisal report, and City Manager <br />Russo said we have the appraisal of Quinlivan Appraisals of $1 03,500,000 and when you <br />multiply that by the square footage allowed to be built there in floor area this resolution <br />comes out to approximately $75 a square foot in TDR value. Mayor Ede1cup clarified that <br />this item approves the TDR portion of this project that we just gave site plan approval to <br />[Item 6A] and accepting the appraisal report that was done by the City and permits the <br />developer to purchase the City-owned TDRs, and the 10% deposit. <br /> <br />Public Speakers: Tom Daly <br /> <br />Vice Mayor Thaler asked how many TDRs are in the Bank, and Mr. Vera noted on page 105 <br />and 106 and it tells us that the balance is 404,930 square feet and 235 units. <br /> <br />Mr. Daly said that this is consistent with the conditions of the prior approval which says we <br />will be paying 1/3 per phase at the issuance of each building permit. Mayor Edelcup said as <br />they draw their permit down they will be paying the 90% and Mr. Daly said 1/3 90% in <br />building I, in building II, and in building III. Mayor Edelcup said the only thing that is <br /> <br />13 <br />