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Created:7/6/12 CH <br /> Revised:8/14/12 AD/CH <br /> Revised:8/16/12 HO <br /> Revised: 10/30/12 CH <br /> Revised: 10/31/12 HO/CH <br /> Revised:11/5/12 HO <br /> The Applicant is requesting the utilization of City's TDRs in the amount of 94,680 square <br /> feet of development rights and 45 dwelling units (Each TDRs unit = 2,104 square feet). <br /> The appraisal report dated August 13, 2012 recommended the square foot market value <br /> of the subject property as Twenty Seven Dollars and Ninety Five Cents ($27.95) of <br /> allowable FAR. The calculation for this project's TDRs is as follows: (45 units x 2,104 <br /> square feet x $27.95) equals to the effect of the TDR's purchase of $2,646,306 and <br /> approval of TDRs on the project would be an increase in density. <br /> 4. Traffic Engineering <br /> Traffic Impact Study: <br /> The traffic study was done by Marlin Engineering, Inc. on 08/07/12 and submitted by the <br /> Applicant on 08/08/12. The study analyzed the St. Tropez on the Beach Phases II & Ill <br /> project and concluded that intersections currently operate, and will continue to operate <br /> within the City's adopted LOS standards. The study also recommends the need for <br /> modification of the phase III office building driveway to two driveways (one "in" and one <br /> "out"), and minimum distance of 125 feet from Sunny Isles Boulevard intersection. <br /> VI. FINAL ANALYSIS <br /> Based on the above review, the application is generally consistent with the City's <br /> Comprehensive Plan and the City's Land Development Regulations. Staff has no <br /> objection to the site plan application provided that all conditions below are satisfied. <br /> Staff finds the setback variance requested for Phase III (Office Building) may be justified <br /> due to the depth of the lot and the proposed usage of the structure. Moreover, Staff finds <br /> the use of murals and graphics on temporary construction fencing is warranted. At this <br /> time, City Staff has no objection to the Applicant's variance request as indicated below. <br /> Pursuant to Section 265-15 Variances. A variance shall be granted only where <br /> competent and substantial evidence presented in the particular case shows that all of the <br /> following are met: <br /> (1) Special conditions and circumstances exist which are peculiar to the land, structure, <br /> or building involved and which are not applicable to other lands, structures or <br /> buildings in the same zoning district; <br /> Applicant: The property is located at the corner of Sunny Isles Beach Blvd. and <br /> Collins Avenue, Although this parcel is part of a unified site plan approval, the parcel <br /> where the office building is located is narrower in width than the remaining parcels. <br /> 8 <br /> U:\PLANNING&ZONING2008\ZONING HEARING-APPLICATIONS\2012 APPLICATION\Z2012-09 ST.TROPEZ PHASE 11&III <br />