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<br />Summary Minutes: Regular City Commission Meeting May 12,2005 <br /> <br />City of Sunny Isles Beach, Florida <br /> <br />50% interest in the total of a pot. He said the other party to this has not been a seller, <br />therefore that half of that pot should not be adversely affected because there was a <br />miscalculation done in the first half of that pot, and whatever needs to be done to make that <br />outcome be true is what needs to be done to correct that, but it doesn't effect all transactions <br />occurring in the future and what we are trying to correct is one instance here that has nothing <br />to do with this entire TDR Ordinance as it effects all future ones. <br /> <br />City Manager Russo said that if you take the fact that what is left in the Casino total Bank is <br />236,945 square feet and 99 units, and Mayor Edelcup said yes, that 61 of those units and <br />124,991 square feet belong to Fortune and the difference belongs to the other person. <br />Commissioner Iglesias said that he agrees with the Mayor except that he did not agree with <br />the word simultaneously what we need to make sure that at the end ofthe day that everything <br />balances out to zero because we don't want to create any more density and we don't want to <br />create any more FAR which is mass. Vice Mayor Thaler said that there were some errors <br />made and what we are trying to do is to correct those mistakes/miscalculations that were <br />made, and Mayor Edelcup said that those miscalculations belong to that selling entity and not <br />somebody else. <br /> <br />Shelley Eichner said that in some cases, the way it is written now, while an applicant might <br />need only 60 units but because he needs more FAR he may have to take 65 units so that it is a <br />comparable based on the constant. Mayor Edelcup said that this basically says that in have <br />this piece of property and it were divided into 100 units then all the area of this piece of <br />property is prorated amongst each of those 100 units and every time I want to either take a <br />unit or the ratable amount of square feet I have to take that piece off and I can't take the units <br />off from the 100 and leave all the square footage, I have to take the amount of one unit and <br />the square foot that went with that one unit, and if that means that there is less units built in <br />this City so be it, we will control some of the growth from occurring in this City, we won't <br />have to maximize every single square foot and every single unit into a reality, we will have no <br />greater than that, but we could wind up with less then that and that is the intent ofthis whole <br />Ordinance. Commissioner Iglesias said that he does have a problem with that because you <br />are not going to get that because developers are not going to leave anything on the table. He <br />said what you are going to wind up with is: 1) from now on they are going to recalculate <br />what they need exactly because they are not going to give up density; 2) they may give us an <br />inferior product; and 3) ifthey can't use it, they may think whether they are going to do TDRs <br />or not and maybe just develop on that site. Mayor Edelcup said that he believes that the <br />developers can live with this and if we are trying to control the growth in this City we can <br />mandate it, and that the TDRs were a gift that this City created that developers didn't have <br />before and they are very happy that they have got them, and ifthere are conditions, then he is <br />sure they are willing to accept the conditions because something is better then nothing. <br /> <br />Shelley Eichner said that she needs clarity, in the first three transactions, that constant was not <br />used, so where we are at today in terms of the Casino Bank or the numbers that the City <br />Manager mentioned, in terms ofthe 236,945 square feet and the 99 units, that is what is in the <br />Bank, not the individual accounts, it was her understanding that we had established one Bank, <br />they have to have separate account holders but for the City's accounting purposes it is one <br />number, bearing that in mind, she wants to clearly understand what the Commission's <br />intentions are in respect to Ms. Burke's client. Mayor Edelcup said we are going right back <br />to what City Manager Russo said, we can determine that there is still enough in that particular <br /> <br />5 <br />