HomeMy Public PortalAbout85 W Enid Drive.tifSLACK
JOHNSTON
MAGENHEIMER
REAL ESTATE APPRAISERS & CONSULTANTS
7300 NORTH KENDALL DRIVE, SUITE 520
MIAMI, FLORIDA 33156
APPRAISAL OF REAL PROPERTY
85 WEST ENID DRIVE
VILLAGE OF KEY BISCAYNE,
MIAMI-DADE COUNTY, FLORIDA
SUMMARY REPORT
APPRAISAL No. 07148
PREPARED FOR
MR. JUD KURLANCHEEK, AICP, DIRECTOR
VILLAGE OF KEY BISCAYNE
BUILDING, ZONING AND PLANNING DEPARTMENT
88 WEST MCINTYRE STREET
KEY BISCAYNE, FLORIDA 33149
SLACK
JOHNSTON
MAGENHEIMER
REAL ESTATE APPRAISERS & CONSULTANTS
L. GLENN JOHNSTON, MAI
ST.CERT GEN.REA RZ443
ANDREW H. MAGENHEIMER, MAI
ST CERT.GEN.REA RZ1073
May 28, 2007
Mr. Jud Kurlancheek, AICP, Director
Building, Zoning and Planning Department
Village of Key Biscayne
88 West McIntyre Street
Key Biscayne, Florida 33149
RE: Appraisal of Real Property and Estimate of Annual Market Rent
85 West Enid Drive, Village of Key Biscayne,
Miami -Dade County, Florida
Appraisal Number: 07148
Dear Mr. Kurlancheek:
THEODORE W. SLACK, MAI
(1902- 1992)
THEODORE C. SLACK, MAI
(RETIRED)
SUE BARRETT SLACK, MAI
(RETIRED)
At your request, we have prepared an appraisal, in a summary report format, of the
market value of the fee simple interest in the above referenced property, as of February
17, 2007, the effective date of the appraisal and visit to the property. In addition, we
have estimated the annual market rental value of the parcel.
The subject property is comprised of a 21,200 square foot site. The site is located at 85
West Enid Drive. This location is within the Village of Key Biscayne, a municipality of
Miami -Dade County, Florida. The property is owned by Miami -Dade County Water and
Sewer and is used for parking by the Village of Key Biscayne for its adjacent municipal
buildings. By virtue of its governmental ownership and usage, the site is zoned GU
(Government Use). It is our understanding, if privately owned, the site would likely be
zoned either C-1 (Low Intensity Commercial) or 0-1 (Low Intensity Office) in
conjunction with its underlying commercial land use designation.
The appraisal report states our opinion of market value, subject to various assumptions
and limiting conditions contained in this summary report. The site visit and analyses
forming the basis of our valuation have been performed by the undersigned. The
appraisal has been prepared in accordance with the Uniform Standards of Professional
Appraisal Practice (USPAP) as adopted by the Appraisal Standards Board of the
Appraisal Foundation.
SLACK, JOHNSTON & MAGENHEIMER, INC.
7300 NORTH KENDALL DRIVE, SUITE 520, MIAMI, FLORIDA 33156
Mr. Jud Kurlancheek, AICP
May 28, 2007
Page Two
Based on our investigation and analysis, we have formed the opinion that the market
value of the subject property, as of May 9, 2007. was as follows:
TWO MILLION EIGHT HUNDRED SEVENTY THOUSAND DOLLARS
($2,870,000).
In addition, we have estimated the annual market rent for the subject property to be
$11.70 per square foot. The following report contains the results of our investigations
and the explanation of the approaches to value.
Respectfully submitted,
SLACK, JOHNSTON & MAGENHEIMER, INC.
Andrew H. Magenheimer. MAI
ST CERT GEN REA RZ1073
Kimberly Magenheimer
ST CERT GEN REA RZ 1386
SLACK
JOHNSTON
MAGENHEIMER
TABLE OF CONTENTS
Page
Summary of Salient Facts and Conclusions 1
Aerial Photograph of the Subject Property 2
Certification 3
Assumptions and Limiting Conditions 4
Identification of the Property 7
Legal Description 7
Ownership and History of the Property 7
Purpose, Intended Use and Date of the Appraisal 8
Scope of the Appraisal 8
Definition of Value and Interest Appraised 10
Regional Analysis 11
Neighborhood Analysis 11
Description of the Property 13
Real Estate Tax Analysis 15
Land Use and Zoning 15
Highest and Best Use 16
Valuation Process 19
Sales Comparison Approach 20
Annual Market Rent Analysis 27
Reconciliation and Final Value Estimate 29
ADDENDA
A - Miami -Dade Regional Analysis
B - Photographs of the Subject Property
C - Zoning Information
D - Qualifications of Appraiser
SLACK
JOHNSTON
MAGENHEIMER
SUMMARY OF SALIENT FACTS AND CONCLUSIONS
Property Appraised:
Property Type:
2006 Assessment Information:
Folio Number:
Total Assessment:
Real Estate Taxes (2006):
Census Tract:
Flood Insurance:
Ownership:
Interest Appraised:
Land Size:
Zoning:
Highest and Best Use:
Date of Valuation:
Date of Report:
Type of Report:
85 West Enid, Village of Key Biscayne, Miami -Dade
County, Florida
Commercial land
24-5205-001-0020
$1,847,235
Exempt due to governmental ownership
46.02 (2000)
Zone "AE"; Special flood hazard areas inundated by
100 -year flood; base flood elevations of 9 feet
determined. National Flood Insurance Community
Panel Number 120648 0281 J, dated March 2, 1994.
Miami -Dade County Water & Sewer Department
3071 S.W. 38 Avenue
Miami, Florida 33146
Fee Simple
22,100 square feet
.51 acre
By virtue of its governmental ownership and usage, the
site is zoned GU (Government Use). It is our
understanding, if privately owned, the site would likely
be zoned either C-1 (Low Intensity Commercial) or 0-
1 (Low Intensity Office) in conjunction with its
underlying commercial land use designation.
Development with commercial uses
May 9, 2007
May 28, 2007
Summary
1
SLACK
JOHNSTON
MAGENHEIMER
Value Indications:
Income Approach:
Sales Comp. Approach:
Cost Approach:
Final Value Estimate:
Annual Market Rent:
Not Applicable
$2,870,000
Not Applicable
$2,870,000
$11.70 per square foot
AERIAL PHOTOGRAPH OF THE SUBJECT PROPERTY
Source: Miami -Dade County Property Appraiser's Office
-2
SLACK
JOHNSTON
MAGENHEIMER
CERTIFICATION
We certify that, to the best of our knowledge and belief, ...
the statements of fact contained in this report are true and correct.
the reported analyses, opinions, and conclusions are limited only by the reported assumptions and
limiting conditions, and are our personal, unbiased professional analyses, opinions, and
conclusions.
we have no present or prospective interest in the property that is the subject of this report, and no
personal interest with respect to the parties involved.
we have no bias with respect to the property that is the subject of this report or to the parties
involved with this assignment.
our engagement in this assignment was not contingent upon developing or reporting
predetermined results.
compensation for completing this assignment is not contingent upon the development or reporting
of a predetermined value or direction in value that favors the cause of the client, the amount of
the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event
directly related to the intended use of this appraisal.
the analyses, opinions, and conclusions were developed, and this report has been prepared, in
conformity with the requirements of the Code of Professional Ethics and Standards of
Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards
of Professional Appraisal Practice (USPAP).
- we have made a recent visit to the property that is the subject of this report.
no one provided significant real property appraisal assistance to the persons signing this report.
- the use of this report is subject to the requirements of the Appraisal Institute relating to review by
its duly authorized representatives.
- as of the date of this report, Andrew H. Magenheimer, has completed the continuing education
program of the Appraisal Institute.
SLACK, JOHNSTON & MAGENHEIMER, INC.
Andrew H. Magenheimer, MAI
ST CERT GEN REA RZ107'i
Kimberly Magenheimer
ST CERT GEN REA RL1386
- 3
SLACK
JOHNSTON
MAGENHEIMER
ASSUMPTIONS AND LIMITING CONDITIONS
The appraisal is subject to the following assumptions and limiting conditions:
1. No responsibility is assumed for the legal description or for matters including legal or
title considerations. Title to the property is assumed to be good and marketable unless otherwise
stated.
2. No legal opinion related to a title search was provided and all existing liens and
encumbrances, including deed restrictions and developers agreements, have not been
investigated unless otherwise stated. The property is appraised as though free and clear.
3. Responsible ownership and competent property management are assumed.
4. The information furnished by others has been gathered from sources deemed to be
reliable, however, no warranty is given for its accuracy.
5. All engineering and surveying is assumed to be correct. Any sketches, plats, or drawings
included in this report are included to assist the reader in visualizing the property. We have
made no survey of the property, and assume no responsibility in connection with such matters.
6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or
structures that render it more or less valuable. No responsibility is assumed for unusual soil
conditions and no opinion as to these matters is to be inferred or construed from the attached
report other than those specifically stated in the report. Unless stated otherwise, the soil
conditions of the subject property are assumed to be adequate to support development utilizing
conventional construction techniques. We recommend the client obtain an opinion from a
competent engineering firm.
7. It is assumed that there is full compliance with all applicable federal, state, and local
environmental regulations and laws unless noncompliance is stated, defined, and considered in
the appraisal report.
8. It is assumed that all applicable zoning and use regulations and restrictions have been
complied with, unless a nonconformity has been stated, defined, and considered in the appraisal
report.
9. It is assumed that all required licenses, certificates of occupancy, consents, or other
legislative or administrative authority from any local, state, or national government or private
entity or organization have been or can be obtained or renewed for any use on which the value
estimate contained in this report is based.
10. It is assumed that the utilization of the land and improvements is within the boundaries or
property lines of the property described and that there is no encroachment or trespass unless
noted in the report.
4
SLACK
JOHNSTON
MAGENHEIMER
11. Any proposed or partially completed improvements included in this report are assumed to
be completed in accordance with approved plans and specifications and in a workmanlike
manner.
12. Our estimates of future values were formulated based upon market conditions as of the
date of appraisal, considerate of future projections concerning supply and demand. The
appraiser has no responsibility for significant events that alter market conditions subsequent to
the effective date or dates of appraisal.
13. This study is to be used in whole and not in part. No part of it shall be used in
conjunction with any other appraisal. Publication of this report or any portion thereof without
the written consent of the appraiser is not permitted.
14. The appraiser, by reason of this report, is not required to give further consultation,
testimony, or be in attendance in court with reference to the property in question unless
arrangements have been previously made.
15. Neither all, nor any part of the contents of this report (especially any conclusions as to
value, the identity of the appraiser, or the firm with which the appraiser is connected), shall be
disseminated to the public through advertising, public relations, news, sales, or other media
without the written consent and approval of the appraiser. The use of this report in any public
offering or syndication document is specifically prohibited.
16. Unless otherwise stated in this report, the existence of hazardous substances, including
without limitation asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural
chemicals, which may or may not be present on the property, or other environmental conditions,
were not called to the attention of, nor did the appraiser become aware of such during the
appraiser's inspection. The appraiser has no knowledge of the existence of such materials on or
in the property unless otherwise stated. The appraiser, however, is not qualified to test such
substances or conditions. If the presence of such substances, such as asbestos, urea
formaldehyde foam insulation, or other hazardous substances or environmental conditions, may
affect the value of the property, the value estimated is predicated on the assumption that there is
no such condition on or in the property or in such proximity thereto that it would cause a loss in
value. No responsibility is assumed for any such conditions, nor for any expertise or engineering
knowledge required to discover them. It is recommended that the client retain an expert in this
field, if needed.
17. Disclosure of the contents of this report by the appraiser is controlled by the Appraisal
Institute of which one or more signatures of this report is an MAI member and by the Florida
Department of Professional Regulation, Division of Appraisal State Certification. The analysis
and value conclusions, as well as non-public information about the subject property, are
confidential matters and cannot be divulged to any persons other than the party for whom the
report is prepared.
5
SLACK
JOHNSTON
MAGENHEIMER
Exceptions to this confidentiality provision are requests by committees of the Appraisal Institute
or the Florida Department of Professional Regulations for peer review, and subpoenas by any
court having jurisdiction to request production of the report.
18. Section 404.056(8) of the Florida Statues requires that prior to or at the time a rental
agreement or contract for any building is executed, the following disclosure statement must be
issued:
"RADON GAS: is a naturally occurring gas that, when it has accumulated in a building in
sufficient quantities, may present risk to persons who are exposed to it over time. Levels of
radon that exceed federal and state guidelines have been found in building in Florida. Additional
information regarding radon and radon testing may be obtained from your public health unit."
19. No survey of the site was provided or reviewed. The site size was taken from the Miami -
Dade County Property Appraiser's records. Any change in the site area could impact the value
conclusions herein and require further analysis. This appraisal is subject to a survey and legal
description of the subject property.
Acceptance or use of this report constitutes acceptance of the preceding conditions.
6
SLACK
JOHNSTON
MAGENHEIMER
IDENTIFICATION OF THE PROPERTY
The subject property consists of 22,100 square feet of commercial land located at 85
West Enid Drive in the Village of Key Biscayne, a municipality of Miami -Dade County,
Florida. The property is situated adjacent to the Village Hall and Police Station and
serves as parking for the building.
By virtue of its governmental ownership and usage, the site is zoned GU (Government
Use). It is our understanding, if privately owned, the site would likely be zoned either C-
1 (Low Intensity Commercial) or 0-1 (Low Intensity Office) in conjunction with its
underlying commercial land use designation.
LEGAL DESCRIPTION
The following legal description was taken from the Miami -Dade County Property
Appraiser's records, as well as an existing lease for the subject property:
Tract A, less the East 179 feet thereof, of BISCAYNE KEY ESTATES, according
to the Plat thereof, as recorded in Plat Book 50, at Page 50, of the Public Records
of Miami -Dade County, Florida.
OWNERSHIP AND HISTORY OF THE PROPERTY
The subject property is currently owned by Miami -Dade County Water and Sewer.
Based on the information available, the property has not changed ownership in several
years.
The property is currently leased to the Village of Key Biscayne (Village) by Miami -Dade
County. According to the "Amendment to Lease" provided, dated October 15, 2002, the
original lease was for a term of 30 years and was reduced to a term of 14 years
terminating June 14, 2007. The current rental rate for the property was not provided and
was not deemed relevant since the lease is to expire in less than 45 days from the date of
valuation. There are no known options to renew the existing lease.
The lease provides for an option for the Village to purchase the property at any time prior
to the expiration of the lease. The option price is to be the fair market value of the
property as if vacant and unimproved, as stated in the "Amendment to Lease".
7
SLACK
JOHNSTON
MAGENHEIMER
PURPOSE, INTENDED USE AND DATE OF THE APPRAISAL
The purpose of this appraisal is to develop and report an opinion of the current market
value of the fee simple interest of the subject property, as of May 9, 2007, the effective
date of appraisal. In addition. we have estimated the annual market rental value of the
parcel.
The date of the report is May 28, 2007. The intended user of this report is the Village of
Key Biscayne. The intended use of the appraisal is to assist the client in negotiating the
potential purchase or lease of the property. There are no other intended users or intended
uses of this appraisal.
SCOPE OF THE APPRAISAL
The scope of this appraisal is to develop and report an opinion of the current market value
of the fee simple estate in the subject property, as well as to estimate the annual market
rent. We have inspected the neighborhood and have made a recent visit to the property.
Subsequent to our visit, an estimation of the highest and best use, as of the date of
valuation, was made. The highest and best use analysis considers all physically possible.
legally permissible and economically feasible uses to which the property can be put.
The appraisal process includes three basic approaches to value. These are the income,
sales comparison, and cost approaches. The application of these approaches is
determined by the type of property being appraised, as well as the scope of the valuation
assignment. Since the subject property consists of vacant land, only the sales comparison
approach was deemed applicable in estimating the market value of the fee simple interest
in the subject property.
The subject property is located in the Village of Key Biscayne, a small island community
connected to mainland Miami by a bridge. As will be discussed in the Highest and Best
Use section of this report, if privately owned, the subject property's zoning would likely
be C-1 or 0-1. According to the Village of Key Biscayne, Building, Planning and
Zoning Director, the likely permitted use of the subject site would be for office uses since
it is adjacent to residential uses and does not front Crandon Boulevard.
The Village encompasses only 1.2 square miles and the number of commercial and office
sites is limited, as such, recent sales of this type of property are also very limited. For
this reason, research for land sales also extended to areas outside the subject's immediate
market area, including much of southeastern Miami -Dade County. Sales research
spanned from January, 2005 to the effective date of this appraisal. Due to significant
changes in market conditions in the Miami -Dade County area, sales transpiring prior to
January, 2005 warrant substantial upward adjustment and were not relied upon.
-8-
SLACK
JOHNSTON
MAGENHEIMER
The sales and information included in this report is considered of good quality and
representative of the best available market data. Analysis of the selected sales included a
visual inspection, reviewing the deed and confirming sale details with one or more of the
parties to the transaction. or their representatives.
The annual market land rent for the subject parcel has been estimated through the
capitalization process, by applying a market derived capitalization rate to the estimated
land value of the subject parcel.
9
SLACK
JOHNSTON
MAGENHEIMER
DEFINITION OF VALUE AND INTEREST APPRAISED
The Uniform Standards of Professional Appraisal Practice (USPAP 2006) defines
Market Value as "a type of value, stated as an opinion, that presumes the transfer of a
property (i.e. a right of ownership or a bundle of rights), as of a certain date, under
specific conditions set forth in the definition of the term identified by the appraiser as
applicable in an appraisal."
The Dictionary of Real Estate Appraisal, Fourth Edition, defines Market Value as "the
most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently and
knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this
definition is the consummation of a sale as of a specified date and the passing of title
from seller to buyer under conditions whereby:
1. buyer and seller are typically motivated;
2. both parties are well informed or well advised, and acting in what they consider
their best interests;
3. a reasonable time is allowed for exposure in the open market;
4. payment is made in cash in United States dollars or in terms of financial
arrangements comparable thereto; and
5. the price represents the normal consideration for the property sold unaffected by
special or creative financing or sales concessions granted by anyone associated
with the sale."
For purposes of this analysis, the market value definition relative to the subject parcel
relies on the definition taken from the Dictionary of Real Estate Appraisal.
Other pertinent terms and definitions from the Dictionary of Real Estate Appraisal,
Fourth Edition, are as follows:
Fee Simple Estate is the "absolute ownership unencumbered by any other interest or
estate, subject only to the limitations imposed by the governmental powers of taxation,
eminent domain, police power, and escheat."
Market Rent is the "most probable rent a property should bring in a competitive and
open market under all conditions and restrictions of the specified lease agreement
including term, rental adjustment and revaluation, permitted uses, use restrictions and
expense obligations."
- 10 -
SLACK
JOHNSTON
MAGENHEIMER
REGIONAL ANALYSIS
The subject property is located in the Village of Key Biscayne, a municipality located in
the southeastern section of Miami -Dade County. A brief regional analysis of Miami -
Dade County is included in the Addenda.
NEIGHBORHOOD ANALYSIS
As mentioned above, the subject is located within the Village of Key Biscayne. Key
Biscayne is an island community located approximately five miles east of mainland
Miami -Dade County and is connected to the mainland via the Rickenbacker Causeway.
The Village of Key Biscayne incorporated in 1991 and is considered one of the more
desirable and affluent residential communities in Miami -Dade County due to its
proximity to the Miami Central Business District and local amenities.
The Village of Key Biscayne consists of 1.2 square miles with a 2006 population of
approximately 11,464. According to census information, the Community amenities
include the Key Biscayne golf course, Lipton Tennis Center, as well as beaches and
picnic areas at Crandon Park and Bill Baggs State Park (Cape Florida).
As stated previously, access to Key Biscayne from mainland Miami -Dade is provided via
a causeway, which turns into Crandon Boulevard at Virginia Key. There is a toll for use
of the causeway. Crandon Boulevard is the primary commercial roadway bisecting Key
Biscayne from north to south. Commercial development is located mostly along
Crandon Boulevard and is comprised service -oriented uses, including shopping centers
and restaurants. West of Crandon Boulevard land uses consist of mostly single family
residences. Multifamily (condominiums) are mostly located east of Crandon Boulevard.
The Village of Key Biscayne is primarily built-up with a limited supply sites for
development. In most instances, new development is preceded by the demolition of older
improvements.
Overall, the area is considered stable and is one of the more affluent and desirable
locations in Miami -Dade County.
-11-
SLACK
JOHNSTON
MAGENHEIMER
Key Biscayne
Virginia Key
Beach.Park
- 12 -
SLACK
JOHNSTON
MAGENHEIMER
DESCRIPTION OF THE PROPERTY
Location:
Shape:
Land Area:
Frontage:
�rog� phis
Sti +ming-I t I i00;Y
85 West Enid Drive, Village of Key Biscayne, Miami -
Dade County, Florida.
Rectangular (221 feet x 100 feet)
22,100 square feet or .51 acres
The site has approximately 221 feet of frontage along
West Enid Drive and 100 feet along Fernwood Road.
Access: Access to the property is provided via both Enid Drive
and Fernwood Road.
Topography: Level and at street grade. Asphalt -paved.
- 13 -
SLACK
JOHNSTON
MAGENHEIMER
Flood Insurance: Zone "AE"; Special flood hazard areas inundated by
100 -year flood; base flood elevations of 9 feet
determined. National Flood Insurance Community
Panel Number 120648 0281 J, dated March 2, 1994.
Soil Conditions: No soil report of the property was provided. It is
assumed the subsoil is of sufficient load bearing
capacity to support the construction of permanent
structures. No evidence of any adverse soil conditions
at the site was observed upon our visit to the property.
Utilities: Water and sewer is available from Miami -Dade Water
and Sewer Authority. Electricity is provided by FPL
and telephone service is provided by AT&T
(BellSouth).
Land Use Restrictions: No authoritative report of title has been provided or
reviewed; there do not appear to be any easements, or
encroachments that would adversely affect the
utilization of the site.
Environmental Study: This appraisal report is based on the assumption that
no conditions exist that would adversely affect the
utilization or marketability of the property.
- 14 -
SLACK
JOHNSTON
MAGENHEIMER
REAL ESTATE TAX ANALYSIS
The subject property is located within the Village of Key Biscayne and, if privately
owned, would be subject to City and County ad valorem taxes on real property. The
Florida Statutes provide for assessment and collection of ad valorem taxes on real
property; however, the taxes are assessed, collected, and used on the local county level.
The assessment for the property is established each year as of January 1st by the Miami -
Dade County Property Appraiser's Office at 100% of "Just Value". The tax due is
computed according to annual millage rates established by Miami -Dade County. Millage
rates are the amount paid to each taxing body for every $1,000 of assessed value. Taxes
are payable in November with a 4% discount and become delinquent on April 1 yt. Since
the subject property is government owned, it is exempt from taxation.
According to the Miami -Dade County tax rolls, the 2006 assessment for the subject
parcel is as follows:
Folio Number:
Land Assessment:
Improvement Value:
Total Assessment:
24-5205-001-0020
$1,768,000
$ 79,235
$1,847,235
Real Estate Taxes (2006): Exempt due to governmental ownership
LAND USE AND ZONING
According to the Village of Key Biscayne Land Use Map, the subject property is located
within an area designated as "Commercial". It is our understanding this category
accommodates a wide range of commercial uses.
By virtue of its governmental ownership and usage, the site is zoned GU (Government
Use). Based on conversation with Village of Key Biscayne representatives, it is our
understanding, if privately owned, the site would likely be zoned either C-1 (Low
Intensity Commercial) or 0-1 (Low Intensity Office) in conjunction with its underlying
commercial land use designation. Since the property is located adjacent to low density
residential uses and does not front on Crandon Boulevard, Village representatives
indicated office uses to be the most likely commercial usage to be approved for the
subject site.
Excerpts from the Village of Key Biscayne zoning code pertaining to GU, C-1 and 0-1
uses are provided in the Addenda.
- 15 -
SLACK
JOHNSTON
MAGENHEIMER
HIGHEST AND BEST USE
The following definitions are from The Dictionary of Real Estate Appraisal (Fourth
Edition) published by the Appraisal Institute:
Highest and Best Use
The reasonably probable and legal use of vacant land or an improved
property, which is physically possible, appropriately supported, financially
feasible, and that results in the highest value. The four criteria that highest
and best use must meet are legal permissibility, physical possibility,
financially feasibility and maximum profitability.
Highest and Best Use As Though Vacant
Among all reasonable alternative uses, the use that yields the highest
present land value, after payments are made for labor, capital, and
coordination. The use of a property based on the assumption that the parcel
of land is vacant or can be made vacant by demolishing any improvements.
Physically Possible: The subject site contains 22,100 square feet with dimensions of 221
feet by 100 feet. Although no soil report for the subject site has been provided, a visit to
the property, revealed no problems associated with the physical aspects of developing
site. The area has good to average regional access and availability to public utilities. The
physical characteristics of the site and surrounding area support a variety of uses based on
its configuration and size.
Legally Permissible: Permissible or legal uses are those permitted by zoning and land
use regulations. No recent title search was provided to the appraisers. It is assumed that
there are no covenants, restrictions or easements that would adversely affect the use of
the site to such an extent that it would negatively impact its value.
By virtue of its governmental ownership and usage, the site is zoned GU (Government
Use). Based on conversation with Village of Key Biscayne representatives, it is our
understanding, if privately owned, the site would likely be zoned either C-1 (Low
Intensity Commercial) or 0-1 (Low Intensity Office) in conjunction with its underlying
commercial land use designation. Since the property is located adjacent to low density
residential uses and does not front on Crandon Boulevard, Village representatives
indicated office uses to be the most likely commercial usage to be approved for the
subject site. The maximum floor area ratio allowed would be approximately .50.
Maximum allowable height is 35 feet (3 stories).
Feasible or Maximally Productive Use: Based on the above, the most like use of the
property would be for the construction of a small office building. According to statistics
obtained from CoStar, Key Biscayne is included in the Coconut Grove submarket area.
- 16 -
SLACK
JOHNSTON
MAGENHEIMER
As of the 1'` Quarter of 2007, of 71 buildings surveyed, the vacancy rate in the subject's
submarket is 9.1% and the average quoted rental rate is $31.02 per square foot. There are
no office buildings under construction according to CoStar. Based on our research,
current market conditions for office in Miami -Dade County, as well as the subject's
submarket, are stable and would likely support the construction of office on the site as a
feasible use of the site.
Conclusion: Considering the location, physical characteristics and permissible uses of
the property, and based upon an analysis of the site, the surrounding neighborhood, land
uses and the real estate market in general, it is our opinion that the highest and best use of
the subject site would likely be for future development with office uses.
- 17 -
SLACK
JOHNSTON
MAGENHEIMER
FIRST QUARTER 2007 - NYAMI-OADE COUNTY
! _1 ti t 1- i ).11 % 1 ( i `) OFFICE MARKET 'Al
l 11.,
COCONUT GROVE MARKET
DELIVERIES, ABSORPT ION & VACANCY Historical Analysis, All Classes
I=Dedvered SF
6:
04
_61 ➢ _J d 1 1
11
'rk _1 777
VACANT SPACE
Historical Analysis, All Classes
ODrrec SF •SUblet SF
�Or 1y}E _n 0, M,4., Y) 1
re ez '�pei9*D
I111111111Absorption SF
' Vacancy
W V3, lU+)ied
QUOTED RENTAL RATES
Historica Analysis, All Classes
•
'Wa it 210- I
Existing Inventory
Vacancy Net Delivered Inventory UC Inventory Quoted
Period k BIdAs Total RBA Vacant SF Vacancy 'r Absorption a BIdAs Total RBA N Bldgs Total RBA Rates
2007 1g
2006 4q
2006 3q
2005 2q
2006 1 q
2005 43
2005 3q
2005 2q
2(X)5 Iq
2004 4q
2004 3q
2004 2q
2004 1.1
21303 4q
2003 3q
2003 2q
o er, ^ooarirD
71
71
71
71
71
71
70
70
69
69
69
59
99
59
69
'9
1,546 984
1,545 984
1,545984
1,545,984
1,5.45,984
1,545984
1 543 884
1 541,884
1,541,851
1,541,851
1,541,851
1,541.851
1,541,851
1 541,851
1,541,851
1,541,851
140,206
152 261
119 894
73 357
94 110
115 202
164 322
145 911
137 390
100 849
139 379
132 532
99 407
117 324
140 223
144 360
91%
9 8"%.
78°:,
4 7%
1'v
75
106 6%
9 5-(6
8 9%
o 5%
90%
8 6%
6 4'1(.
7
91%
943,
12.055 0
12 1t,'1 0
0
20 743 0
22 (x32 0
50 220
N^'1
1�)1 1
0
38 530 0
64-,
231 0
1' 917 0
22 899 0
4 13' 0
i9". 0
0
O 0 531 02
O 0 431 (4
O 0 530 92
O 53024
O 5301'
2 100 0 0 531, 09
O 1 2 100 530 18
2,033 1 2 100 430 28
0 2 4133 53010
2 033 529 88
0 1 2 033 529 37
O 0 0 52897
O 0 0 527 45
0 0 0 526 18
O 0 0 525 19
0 0 0 525 47
u
92007 COSTAR GROUP INC.
THE COSTAR OFFICE REPORT 25
- 18 -
SLACK
JOHNSTON
MAGENHEIMER
VALUATION PROCESS
There are three generally recognized approaches considered in the valuation of real
property. They include the income, sales comparison, and cost approaches. It should be
noted that the appropriateness and reliability of each approach depends on the type of
property being appraised, the age and condition of the improvements. if any, and the
availability and quality of market data available for analysis.
The income approach provides an indication of value of a property based on a conversion
of anticipated benefits (net income). The method of conversion is called capitalization
and is either based on a single year's income (direct capitalization), or several years'
income (discounted cash flow). The sales comparison approach provides an indication of
value based on sales of properties considered similar. The cost approach provides an
indication of the value of a property represented by the reproduction cost of the existing
improvements, less accrued depreciation, to which is added the land value.
The appraisal process is concluded by a review and re-examination of each of the
approaches to value employed. Consideration is given to the type and reliability of data
used and the applicability of each approach. These factors are reconciled and a final
value estimate is made. In this instance the property represents vacant land, therefore,
only the sales comparison approach was applicable in the valuation of the subject
property.
- 19 -
SLACK
JOHNSTON
MAGENHEIMER
SALES COMPARISON APPROACH
The sales comparison approach produces an estimate of value for real estate by
comparing recent sales of similar properties in the subject's surrounding or competing
area. Inherent in this approach is the principle of substitution, which states that when a
property is replaceable in the market, its value tends to be set at the cost of acquiring an
equally desirable substitute property, assuming that no costly delay is encountered in
making the substitution.
By analyzing sales which qualify as arm's -length transactions between willing,
knowledgeable buyers and sellers, price trends can be identified from which value
parameters may be extracted. Comparability as to physical, locational, and economic
characteristics are important criteria in evaluating the sales in relation to the subject
property. The basic steps involved in the application of this approach are as follows:
1. Researching recent relevant property sales and current offerings throughout the
competitive area.
2. A selection process to focus on properties considered most similar to the subject,
and then analyzing the selected comparable properties giving consideration to the
time of sale and any change in economic conditions which may have occurred as
of the date of valuation. Other relevant factors of a physical, functional, or
locational nature are also considered.
3. Reducing the sales to a meaningful unit of comparison, i.e., price per unit or price
per square foot.
4. Making appropriate adjustments to the comparable properties.
5. Interpreting the data analyzed to draw a meaningful conclusion of value.
The validity of this approach is dependent upon the availability and relevancy of the data.
The sales of properties having characteristics similar as the subject have been collected
and analyzed. Typically, land sells based on units of comparison particular to the
property type (e.g., price per square foot, price per acre, price per unit). In this analysis,
the price per square foot of land area was analyzed.
The subject property consists of vacant land located in the Village of Key Biscayne, an
island community and municipality of Miami -Dade County. The Village encompasses
only 1.2 square miles, is mostly built-up and the supply of commercial and office sites is
limited, as such, recent sales of this type of property are also very limited. For this
reason, research for land sales also extended to areas outside the subject's immediate
market area, including much of southeastern Miami -Dade County. Due to significant
changes in market conditions in the Miami -Dade County area, sales transpiring prior to
January, 2006 warrant substantial upward adjustment and are irrelevant to this analysis.
- 20 -
SLACK
JOHNSTON
MAGENHEIMER
The four sales under analysis occurred between February, 2006 and February, 2007. All
of the sales included in our analysis are zoned for commercial uses. These sales are
considered to represent the best available data as of the date of valuation. The sales
reflected unadjusted per square foot prices from $154.52 to $192.41 for sites containing
from 15,500 to 48,075 square feet.
-21 -
SLR
JOHNSTON
MAGENHEIMER
SUMMARY OF LAND SALES
NO. LOCATION
LAND SALE
SALES PRICE GRANTOR/
ZONING SQ. FT. ACRES DATE PRICE PER SQ. FT. GRANTEE
1 24 Crandon Boulevard
Key Biscayne
2 6394 S. Dixie Hwy.
South Miami
3 5966-70 S. Dixie Hwy.
South Miami
4 9171 S. Dixie Hwy.
Pinecrest
SUBJECT
85 West Enid Drive
Key Biscayne
C-1 48,075 1.10 Feb -07 $9,250,000
GR 15,500 0.36 Feb -07 $2,395,000 $154.52 EJS Holdings, Inc.
MCTC Holdings, LLC
SR 31,975 0.73 Nov -06 $5,400,000 $168.88 JRD at S. Miami, LLC
64 Development Corp.
BU -2 35,424 0.81 Feb -06 $6,250,000 $176.43 9191 S. Dixie, Ltd.
GU 22,100 0.51
(C-1/0-1)
$192.41 North King Corporation
Samoro, LLC
JRD at 9171, LLC
Land Sales Map
AY
SW 7 nd'Si' 4 h Mfa' SW T2hd ,fit
$
,St
' "'
SW 88th ' Sf S St ,
SW 9 nd'St
SW O6th
��lh t
SW 1,Q2nd 'SS,
0 mi 1 2
1 ,a3 21•`,1 M, ,n it ( ., p A >y s , , , . ,�e3s•
�,� a .a�ii, ��t: !�_., v+at �3e n ��-i',�i�>_��u C_L)4 N4VlLi) �IIa.�A-,., �_..r.o� Ih, 0,,i . ..3,, iw ri.11 31 i^n,>rni, . Nr,r Ury r <<ttf jr•
3
Hama
Coil
Pa
lit -Snapper
Creek Par
Yi}�inia Kt
Discussion of the Land Sales
Land Sale 1 is located at 24 Crandon Boulevard on Key Biscayne. The property is
currently improved with a restaurant building (Stefano's) and parking lot. The building
was originally constructed in 1950 and is in fair to average condition. The property
contains approximately 48,075 square feet and is zoned C-1. It is our understanding the
building contributed nominal value to the overall property and will likely be demolished
or substantially renovated. The sales price in February, 2007 was $9,250,000 or $192.41
per square foot.
Land Sale 2 is located within the City of South Miami at 6394 South Dixie Highway.
The site is irregular in shape with only a small amount of street frontage. At the time of
sale, the site was improved with a small building, which has been demolished. The sales
price in February, 2007 was $2,395,000 or $154.52 per square foot.
Land Sale 3 is also located in South Miami at 5966 South Dixie Highway. This site sold
in November, 2006 for $5,400,000 or $168.88 per square foot. It previously sold in
March, 2006 for $5,000,000 or $156.37 per square foot. The site has frontage on South
Dixie Highway and S.W. 74th Street. The site contains 31,975 square feet.
Land Sale 4 is located at 9171 South Dixie Highway in Pinecrest. The site is improved
with an older, 2 -story building occupied by Ethan Allen. It is our understanding the site
was purchased for future redevelopment. The site contains 35,424 square feet. The sales
price in February, 2006 was $6,250,000 or $176.43 per square foot.
Adjustment Factors
Property characteristics and sale terms considered in our analysis are financing, changes
in market conditions, conditions of sale, size, location, topography, zoning and size.
Each of these items has been analyzed and compared to the subject properties and are
discussed on the following paragraphs.
Financing: All of the sales were cash to the seller transactions, with typical terms of
purchase for the subject market warranting no adjustment for financing.
Condition/Terms of Sale: All of the properties considered were sold as arm's length
transactions; therefore, no adjustments are required.
Time/Market Conditions: The four land sales transpired between February, 2006 and
February, 2007. Research reflects the market for commercial sites in most areas of
Miami -Dade County has experienced increases in land values over the past one to two
years, due in most part, to the dwindling supply of available sites. Based on our research,
all of the land sales warrant upward adjustments for change in market conditions/time.
- 24 -
SLACK
JOHNSTON
MAGENHEIMER
Sale 3 was acquired by the seller in March, 2006 for $5,000,000. The more recent
transaction at $5,400,000 represents an increase of over 8% in a year's time and supports
our conclusion.
Size: The subject property contains approximately 22,100 square feet. The land areas of
the four land sales range from 15,500 to 48,075 square feet. An analysis of the four sales,
however, tends to indicate that smaller sites have limited development potential based on
their size unless assembled with adjacent properties. Sale 2, the smallest of the four
sales. sold for the lowest price per square foot. A comparison of the four sales indicates
there is some adjustment warranted for size with the larger parcels selling for slightly
higher per square foot prices than the smaller sales due to development potential.
Topography/Improvements: The topographies of these four land sales are considered
similar to the subject's topography: therefore, no adjustments are warranted. Sales 1 and
4 are improved and the improvements are considered to contribute some value as an
interim use or for renovation purposes. Downward adjustment for the contributory value
of the improvements is warranted.
Location: The subject property is located on Key Biscayne just west of Crandon
Boulevard, the main thoroughfare on Key Biscayne. The sales are located in the
southwestern section Miami -Dade County. Each of the sales has frontage on a major
thoroughfare in their respective communities and warrant downward adjustment for
superior frontage.
Land Use/Zoning: By virtue of its governmental ownership and usage, the site is zoned
GU (Government Use). It is our understanding, if privately owned, the site would likely
be zoned either C-1 (Low Intensity Commercial) or 0-1 (Low Intensity Office) in
conjunction with its underlying commercial land use designation. According to the
Village of Key Biscayne, office uses would be the mostly likely usage of the subject site
to be approved if privately -owned.
The four sale properties have slightly more liberal zonings than that assumed for the
subject property. For this reason, downward adjustment is warranted for zoning.
Conclusion
As mentioned previously, the subject property consists of vacant land located in the
Village of Key Biscayne. The following adjustment grid is provided to illustrate the
appraiser's thinking.
- 25 -
SLACK
JOHNSTON
MAGENHEIMER
Sale
1
2
3
4
Price/Sq.Ft.
$192.41
$154.52
$168.88
$176.43
Financing
=
_
=
=
Terms
=
Time
+
+
+
+
Size
-
=
-
-
Improvements
-
=
=
-
Zoning
-
-
-
-
Location/Frontage
-
-
-
-
Overall
-
-
-
-
Based on the above analysis and taking into account the lack of available land for
development in the Village of Key Biscayne and the increases in land value over time, we
have formed the opinion that, as of May 9, 2007, the market value of the subject property
is approximately $130.00 per square foot, which is calculated as follows:
22,100 Square Feet x $130.00 Per Square Foot = $2,873,000, rounded to $2,870,000
- 26 -
SLACK
JOHNSTON
MAGENHEIMER
ANNUAL MARKET RENT ANALYSIS
There are two generally accepted methods to estimate annual market rent for vacant land.
One is by direct comparison, as was previously applied in valuing the land. This method
compares rental rates being paid for like properties, if available. The second method is
by direct capitalization, in which the annual market rental rate is estimated by first
determining the underlying land value and then applying a market derived overall
capitalization rate to arrive at annual market rent.
The direct capitalization formula is: Annual Income / Capitalization Rate = Value and the
application of the direct capitalization formula to estimate annual market rent is Land
Value x Capitalization Rate = Annual Land Rent.
Our research revealed no current information available regarding land leases for sites
similar to the subject parcel. Since market derived capitalization rates for vacant land are
more readily available, the direct capitalization approach has been used to estimate the
annual market rent for the subject parcel as described above.
There are several relevant factors to consider in analyzing land capitalization rates.
These factors include the length of the lease term, whether or not renewal options are
provided and whether the rent is flat or adjusted periodically, as well as the distribution of
expenses over the lease term. Our analysis included research of capitalization rates from
leased fee land sales, industry standard investor criteria for similar property.
The leased fee land sales of parcels in south Florida, purchased as investments, provided
a range of land capitalization rates from 8.26% to 10.00%. Our analysis also included a
review of Realtyrates.com investor surveys. This survey indicated a range of
capitalization rates from 4.90% to 11.40% for office properties with an average of 8.45%.
This survey is national in orientation and the survey criteria covers a wide range of
properties and is considered secondary.
In estimating the annual market land rent for the subject property, we concluded a land
capitalization rate of 9.00% is applied to the estimated market value of the site to arrive at
annual market land rent per square foot, which is summarized as follows:
Land Value
$130.00/Sq.Ft. x
Capitalization Rate Annual Land Rent
9.0%
_ $11.70/Sq.Ft.
- 27 -
SLACK
JOHNSTON
MAGENHEIMER
tit ♦111 kit\ OI 1 \NI) ( i1'1 I il,l/ i I ION It r 11
1It \(' i l lt1,, I -1 o,
- -
I \ 1), 91 I'11,1)el t\
utt,1 SIic' t ` LI 1 t )
/,)n111i
\I ',.\I I
S.A1,t
17,ttl \venue
\1imn i I Id
I ,tnc1 huuc',tth a i .ut,I beneath ,a
t 1tr�4 r1`, Ite,tautant 1 I,c.•c.her, ltc,tottki tt
I ,)u
'U l Lai,
I, 1cm,
1,1,7 .
`,' 17
Net
'1 29",
I i V�,I }1
1 1. 174)1) Leaae date 1 1 "1) 1
';I _+1)(I tIf){I , ` } ;>t) (IUI)-
��) 090 1 ,tnnated
1 ,) t+, 1 1 71)7,
>ill) \,.Ith 1 1 1c'IC vie ( '11 ( ,)1 H ,Cav!h Ilk 11
11,,1uc•,1rad, 1 '' 1 l_7 1,t ',fleet
\it,un, 1)ade
1 .u1d be ne:111 .411
1, i11)\ 1 ue,,1a1.
1999
i :, 1rur,
14 1 ear,
$ I tt5 ;t1U
\2_
1')
Net
$2-1
') 11 :,
1,ai (l ,r)1,`4_ t t, he
4, 1 I1+111e 1)epot
157,810
lit '-2
I H 00-1 ,20 UU 1 ,tuuatr,l
ttu"„ 10 UU"„f
L-
)9;Ui
,(1uc)-1 9It(,
;19 N \; '4th `,t !Odd
\11,m11-I)ade ( uunty
tnci K•neath .t 1ent,tl
Ii l'c at
lr;u,
`b'` 1 770
I H)
Net
sic) i)r,
RECONCILIATION AND FINAL VALUE ESTIMATE
The process of reconciliation reviews and reexamines the approaches to value which
were included in the appraisal. In the preceding sections of this report, indications of
value for the property based on the applicable approaches to value as follows:
Cost Approach: Not Applicable
Income Approach: Not Applicable
Sales Comparison Approach: $2,870,000
The sales comparison approach provides an indication of value of the land, as if vacant,
and is considered a reliable indicator of value for the property.
Based on our investigation and analysis, we have formed the opinion that the market
value of the subject property, as of May 9, 2007 was as follows:
TWO MILLION EIGHT HUNDRED SEVENTY THOUSAND DOLLARS
($2,870,000).
In addition, we have estimated the annual market rent for the subject property to be
$11.70 per square foot.
- 29 -
SLACK
JOHNSTON
MAGENHEIMER
ADDENDUM A
Miami -Dade Regional Analysis
SLACK
JOHNSTON
MAGENHEIMER
REGIONAL ANALYSIS
Miami -Dade County is situated in the southeastern sector of the State of Florida. It lies
between Broward County to the north, the Atlantic Ocean to the east, Collier County to
the west, and Monroe County (the Florida Keys) to the south. Dade is the second largest
county in the state.
It comprises approximately 1,998 square miles; however, only 340 square miles supports
urban development. The remainder is low-lying wetlands. The climate is humid and
subtropical with an average annual temperature of 75.9 degrees. The normal annual
rainfall is approximately 56 inches.
Miami -Dade is the most populous county in Florida and ninth in the nation. Its estimated
1996 population of 2,043,316 represents 14% of the State's total. Over the last three
decades, Miami-Dade's population more than doubled; however, since the early 1980's,
the rate of growth slowed. The slowdown was attributed to the fact that the area had
matured as a metropolitan center and began to face increased competition from Broward,
Palm Beach and Collier Counties.
The ethnic mix of Miami -Dade County's population, according to 1990 census figures,
was approximately 23% white, 50% Hispanic, and 20% black. The Hispanic population
increased nearly 14% from 1980 to 1990.
As other areas of Florida proved to be more appealing to retirees, Miami -Dade County
became less of a retirement Mecca and more of a working and family community. The
25 to 44 prime working age increased 38% between 1980 and 1990, while growth in the
over 65 retiree population has remained the same.
Miami -Dade County is comprised of 28 municipalities plus a large unincorporated area.
It has a two-tier governmental system in which each municipality performs its own
services, not requiring countywide coordination including building and zoning, police
and others.
During the 1980's, Miami-Dade's economy shifted from a primarily tourist/agriculture
orientation to a more widely diversified economic base. Its geographical proximity as an
international air and seaport created a strong trade with South and Central America and
the Caribbean.
SLACK
JOHNSTON
MAGENHEIMER
At the end of 1995, Miami International Airport was ranked sixth in the nation and ninth
in the world for passenger traffic with an estimated 33.2 million passengers embarking
and deplaning. For international cargo, Miami International ranked first in the nation and
fifth in the world with over 1.4 million tons of cargo passing through the airport in 1994
and increasing 9% for 1995.
The Port of Miami is ranked as the number one cruise capital in the world with over 20
cruise lines and 12 passenger terminals at the port. It was estimated that 3.2 million
passengers came through the port during 1995.
The diversification of Miami -Dade County's economy and its growth as an international
trade and commerce center reduced its dependence on tourism; however, tourism
continues to be a major economic force in the local retail trade. In 1995 over 9.3 million
visitors came to the area bringing an infusion of nearly $927 million into the economy.
Approximately 54% of these tourists were international and domestic visitors.
During the early 1990's Miami -Dade County experienced strong growth in the working
age sector and had fewer retirees migrating to the area. Miami-Dade's economic base
diversified away from tourism and agriculture and evolved into more of a metropolitan
community. Since 1993, the area has become recognized as a leading area for the film
and fashion industry.
Given Miami -Dade County's strategic geographic location in relation to South America
and the Caribbean, its desirable climate, and broadening economic base, it is well
positioned to overcome obstacles and is less likely to be subject to dramatic fluctuations
in its economy.
SLACK
JOHNSTON
MAGENHEIMER
Miami -Dade County
Florida State
' Miccosukee
Indian
Reservation
M I A M I DADE
Ea-erptades tlatioaal Park
Rtgad Pettn „
„ niter Cottrell
BROWARD
The E v e r g l a a e s
eTaim tm Canal
FLORIDA
£Wee
'Nestw l €
i4"errd
KendUll-Tamwen
Executive
Awport+-
4
OaK Creek Park
SW tMth -
Cutler Rtdgt
paran}a
w
Leisure Guy, (#,Dade C.
mestead
Fonda City
Rtctgrg r
Everglades
Main Visitor
%.®liter
SLACK
JOHNSTON
MAGENHEIMER
ADDENDUM B
Photographs of the Subject Property
SLACK
JOHNSTON
MAGENHEIMER
Subject property.
View of entrance to subject property.
Photographs of the Subject Property
SLACK
JOHNSTON
MAGENHEIMER
View from Fernwood Road.
Photographs of the Subject Property
View looking towards Village Hall. Subject property on the right.
SLACK
JOHNSTON
MAGENHEIMER
ADDENDUM C
Zoning Information
SLACK
JOHNSTON
MAGENHEIMER
AI I I( 1 1 ti St HCD1 1 1 t)I D1 1 RIt 1 I SI ANt) S1 -111-k( RC(it L_Al I(1\ti l91 tit -1X
11 , Front Building Walls
VR and PS
Districts
Front Yard Setback of less
than 25 ft which have a roof
at least 3 ft lower than the
roof of the main Building
03
12 Reduction in Building
heights
VE and IR
Districts
A portion of the Building
having a length of at least 10
ft with a Front Yard Setback
that exceed the required 25
ft ( 0002 per sq ft)
03
006 per ft below the maximum height
permitted
03
This schedule summarizes the FAR Bonuses which are listed in section 30-100(bl
., Platted as of the effective date of this ordinance (October 24 2000)
(Ord No 2000-13, § 4 10-24-00 Ord No 2002-6 § 1 6-11-02 Ord No 2006-11 § 2 11-14-06)
Sec. 30-101, Commercial districts.
C-1 I ow Intensity Commercial District
(a Purpose and Uses
TABLE INSET
District Purpose
This district permits
the Development of
land in a low
intensity mariner
and Uses that
provide for the sale
of goods and
products that are
needed throughout
the entire Village
The permitted uses
provide goods and
services that
primarily serve the
residents of the
Village
Main Permitted
Uses*
Bar
Commercial Uses
1 Offices No
individual or
multiple business
entity(ies) that are
affiliated can
occupy more than
10 000 sq ft
Medical offices
shall not exceed
10 000 sq ft
2 Retail uses No
individual or
multiple business
entity(s) shall
occupy more than
10000sq ft'
except for stores
whose principal
product is food for
consumption off the
premises
Antique furniture
Conditional
Uses
Accessory
Uses
Prohibited
Uses
Any Use not
listed as a
Any Use that Main
Service is customanly Permitted
Station associated Use
where the with the Main Conditional
primary use Permitted Use or
on the site Uses (See Accessory
Sec 30-1111 Use
1See Sec 30-
113)
hap llhr.try I municode Li)m f)ocA tevv 1 I X 1 S` ?l)
?4 2(107
SLACK
JOHNSTON
MAGENHEIMER
\R [RA [ \ S( NF[)I 1 k ( )I I)I' I RI( I I SI A\1) 51 I BACK 1 1,01 ,1 ,A 11()\', 20 car 48
that is at least 50
years old and the
resale of jewelry
art and furs
Personal Service
Uses
Restaurant (except
on parcels that
immediately abut a
single Family
drstnct)
If a Use is located mmediately adjacent to a single Family distract then such Use shall be closed
after 6 00 p m Monday through Saturday On Sunday the hours of business are limited to 9 00 a m
through 1 00 p m These restrictions do not apply from Thanksgiving through December 31 where the
hours of operation shall be the same as the majority of businesses in the Village
(bl Development Regulations
TABLE INSET
Lots Area
Maximum
Number of
Stories
Floor Area Ratio (See FAR
Design Bonus Schedule)**
Less than or = to 3 stories not to
21 000 sq ft exceed 35 ft
20- 50
FAR may be increased to 55 by
a 025 if subterranean parking
garage receives the bonus
and/or
b 025 if a parking garage is
sited at least 50 ft from a public
street
Lot
Coverage
35%
More than 21 000 less
than or = to 60 000
sq ft
3 stones not to
exceed 35 ft
20- 50
FAR may be increased to 55 by
a 025 if subterranean parking
garage receives the bonus
and/or
b 025 if a parkinggarage is sited
at least 50 ft from a public
street
35°%a
More than 60 000 but
less than 100 000 sq
ft
3 stories not to
exceed 35 ft
20- 50
FAR may be increased to 55 by
a 025 if subterranean parking
garage receives the bonus
and/or
h 025 if a parkinggarage is sited
at least 50 ft from a public
street
20- 50
35%
hap lthrar muni ode com,rncL l)nLA le \A 12518 I i 0)) 24'ttr)7
SLACK
JOHNSTON
MAGENHEIMER
\R 11( 1 I \ S('111.1)1 11 01 1)1S f RIC 1 t S1 . A\1) ti1.11.1.1.(.:1( Rf 61 1 ,A t t()\�
100 000 sq ft or
more
3 stones not to
exceed 35 ft
FAR may be increased to 55 by
a 025 if subterranean parking
garage receives the bonus
and/or
b 025 if a parking garage is
sited atleast 50 ft from a public
street
35',
P,itLe 21 of 48
'Lots must be adjacent to one another and have at least one lot line in
common
`The FAR Design Bonus Schedule is a range based on a minimum and a maximum
(c) Setback Requirements
TABLE INSET
Street
Frontage
Side Interior
Rear
First and
second floor
shall be 10 ft
Third floor shall
be greater than
20 ft
0-5 ft based on Site Plan
Review for sideyard facing a
street, 0-30 ft based on Site
Plan Review for interior
sideyard
If adjacent to land zoned
Institutional or adjacent to a
park the sideyard setback is 35
ft
25 ft facing Fernwood Rd , Village
Green Way or adjacent to single-
family district 35 ft if adjacent to land
zoned institutional or adjacent to a
park
0 ft in all other situations
(d; Floor Area Raho Design Bonus Schedule
-TABLE INSET
Design Criteria
How to Calculate Floor Area Ratio
Bonus
Maximum l
FAR
Bonus
1 Elevation facing a street
a First floor zoning Code requires
50%of elevation to be in windows
Bonus for additional windows
b Steps in front of the storefront
leading to the street
c Variation in vertical roof lines
d Variation in building wall plane
e Mansard or pitched roof facing a
street
f Ornamental reveals designs or
trellis
g Open balconies with 75% of each
side having railings
h Porch or covered terrace (not a
balcony)
a 0 0005 per sq ft of window
b 0 0005 per linear ft of stair width
c 0 0003 per linear ft of roof line
providing the length of the roof
element is not less that 25% of the
length for the largest roof
d 0 0003 per linear ft of wall recess
or projection measured from the
corner ofthe wall joint to corner wall
joint of each recess or projected
element
e 0 0003 per linear ft
f 0 002 per sq ft of decorative
element or trellis area
g 0 0001 per sq ft of balcony floor
area
h 0 00003 per sq ft of porch or
terrace floor area
2 Courtyards and passageways to
interior public spaces
a 0 05
b 0 05
c 0 08
d 0 08
e 0 08
f 0 02
g 0 02
h 008
hap 1ihi,il• 1 munttode coin Inc, DotA tev, 12 18 1,8 9ii
24 30117
SLACK
JOHNSTON
MAGENHEIMER
AR -11(1 [ \ `('1lhl)1 11 OF I)1- I IZ1( 1 l 'I- \\I) ,F I a( K RF(,I 1 1IIr)\,,
a Interior courtyards
b Pedestrian Passageways to
interior courtyards No pedestrian
passageway can be an interior
courtyard
3 Clustering of Building(s) this
bonus is limited to projects that
occur on 60,000 sq ft or more of
land
4 Sites adjacent to a park that
provide an alternate route to
Crandon Boulevard
000007 per sq ft of courtyard floor
area
00000, per sq ft of passageway
floor area
a 007
b 0 07
Page 22 i l 4)
05 per building provided no individual
building floor area is less than 35% of
the largest building floor area
Buildings may be connected by roofed
passageways
15
Route must provide two way traffic
commercial uses fronting on >50% of
frontage and if it connects to two
streets then easement to the Village
5 Use
a Automobile repair`
'All new auto repair uses shall
agree to a recorded development
restriction limiting the use of the
property for auto repair for a
minimum period of 10 years
b Service Station
6 Parking Garages
a finished floor located below grade
in a garage that contains >50% of
the required parking spaces
a 03 per auto repair bay andror
b 02 per gasoline dispenser
10
a 0 09
b 0 08
0 06 per foot or fraction thereof below
Grade
7 At Grade Parking Lots
8 Landscaping Providing more
landscaping than is required
a Shade trees
b Native shrub
c Ground cover
d Planter boxes
0 025 when access is provided to an
adjacent parking lot
F
0 20
0 025
a 0 005 per shade tree a 0 05
b 0 00005 per native shrub b 0 01
c 0 00005 per sq ft of ground cover c 0 01
d 000005 d 001
(e) Performance Standards (all items apply to uses in the C-1 District)
( 1 ) Service Stations automotive repair detailing and washing
a All vehicle repair shall take place within a fully enclosed Building
b No windows or garage doors snail be placed within 100 feet of residentially
zoned property
c The overnight outdoor storage of vehicles is prohibited
d Detailing/car washing shall only be permitted in a Structure or under a
permitted Canopy Canopies shall not be placed where they will interfere with on -
site Parking or traffic circulation nor visible from a street
e Air compressors shall be within a wholly enclosed building that prevents the
transmission of noise
(2) Burglar alarm The alarm bell or device shall not face residentially zoned property
(3) Buffonng and Screening A decorative opaque six-foot CBS Wall shall be placed
five feet from any property line adjacent to a street The area between the property line
Imp lrhr,iiv 1 rntuucekle coin mcL DocA ic« 1 S1 S 1 s.:.‘ ')u ; 2 4 2o0
SLACK
JOHNSTON
MAGENHEIMER
\Z 1 1( 1 1 \ S( 111 IN 1 1- 01- 1)I ;1 RI( l , 1 1,1 \\ I) til 1 1iA( h RI ( it 1 \ 110\s, P,),:c 23 or -18
and the Wall shall have dense landscaping The design of the Wall and the landscaping
shall be approved by the Building Zoning and Planning Director The Director shall
determine if the Wail and landscaping provide an adequate buffer and screen between
the commercial uses and the adjacent properties The Director may require that
additional trees be placed in the swale
(4) Restaurants may offer alcoholic beverages for consumption on the premises if the
primary Use of the property is for the sale of meals There shall be a printed menu and
food shall be available for the entire time the restaurant is open Alcohol sales may occur
as long as the restaurant is open and food is available for consumption on the premises
(5) The wall which contains the main entrance into a business shall have a minimum
of 50 percent of the surface in windows and doors
(6) Perimeter walls or fences that face a street shall be set back two feet from the lot
line
(7) Commercial properties may provide two way access from Femwood Road for
pedestrians bicycles and golf carts however, the access shall be sited in a manner
which does not result in a direct route to Crandon Boulevard
(8) If a roof deck contains parking spaces it shall include an opaque 42 -inch high
parapet
(9) Stores and offices shall provide a kneewall or bulkhead between 18 and 24 Inches
in height
r 101 Buildings which are on sites that include more than one lot shall provide a covered
or uncovered passageway for every 200 linear feet of building facade
(1 1) When stairs are provided from a building to a sidewalk then the width of the stairs
shall not be less than ten feet
(121 Parkrrrg Garages
a The extenor elevations of accessory parking structures shall oe designed the
architecturally integrated with the exterior elevation
b Primary entrances to a parking structure shall not be located on the main
facade of the pnncipal use which the parking structure serves
c Openings in parking structures shall be screened so that no cars headlights
or light fixtures are visible from surrounding uses The size and proportions of
openings shall be compatible with neighboring buildings Glazing perforated
metal panels applied surface elements landscaping or combinations of these
that are compatible with other materials of the facade shall be used to screen
openings
d Driveway and pedestrian entries to parking structures shall be integrated with
the ground level facade and shall include doors compatible with the design of the
building
113) Buildings sited at the corner of two public streets shall provide a prominent corner
entrance to street level shops or lobby space
(14) Flat roofs shall not be visible from the street or from any floor that contains
commercial or office uses Pitched or mansard roofs shall not use tar gravel or asphalt
shingles or other similar products as determined by the Building Zoning and Planning
Director Flat roofs of garages shall have a parapet or other opaque screening at least
36 inches high measured from the finished deck floor to shield automobiles from public
view at the street level
htth libi.ir 1 municodic ,.,)i>> rock, 1)o..A i,:~v 12518 1 i5 00 '1 _'007
SLACK
JOHNSTON
MAGENHEIMER
\IZl I( LI- \ St'1I1 1)1 I 1 HI 1)1' II RI(' I t s;t- \\I) I ti Rl (rt 1 A (IO\ti Page '-1 of -ti
05) Asphalt or other similar products as determined by the Building Zoning, and
Planning Director shall not be on the surface of any floor that is considered as common
space which contains commercial or office uses
(16) Common space such as but not limited to courtyards plazas and pedestrian
spaces shall be landscaped in accordance with the landscape standards for vehicular
use areas (See section 30-238) or hardscaped for use as plazas courtyards and
pedestrian passages integrated into the overall site layout and pedestrian circulation
system These spaces may include architectural trellis work over at least 30 percent of
the top deck area or treated with a combination of architectural and landscape elements
to achieve a screening effect
(17) In Shopping Centers facades which front on a street shall contain storefronts that
provide the main entrance into the place of business
(18) All properties which have retail and/or office uses shall provide a bicycle rack or
racks which contain one bicycle space per 5 retail and/or office spaces This shall apply
to all shopping centers which currently do not have bicycle racks as well as all existing
new shopping centers
(Ord No 2000-5 § 2, 5-9-00 Ord No 2005-19 § 3 11-22-05)
Sec. 30-102. GU Government Use District.
(a) GU Description Upon the acquisition of ownership of or a long term lease (five years or
longer) of land by the Village the Village Manager or designee shall indicate on the Official
Zoning Map that the zoning district designation for the property is GU Government Use
(b? Purpose and Uses
TABLE INSET
District Purpose
Main Permitted
Uses
Conditional Accessory
Uses Uses
Prohibited
Uses
This district is
designed to permit
land owned by a
governmental
entity to be used
for any public
purpose and
certain limited
private activities
Governmental
Buildings and
facilities such as but
not limited to schools
offices, post offices
parks open space
community centers
recreational
buildings, police and
fire stations
Recreational
activities as
described in
subsection (e)
None
Any Use
customarily
associated
with the Main
Permitted Use
(See section
30-111)
Any Use not
fisted as a
Main
Permitted
Use
Conditional
Use or
Accessory
Use
(See section
30-113)
(c) Development Regulations Council shall use the following Development Regulations
TABLE INSET
Floor
Area
Ratio
Maximum
Height
Lot
Coverage
Lot Area
Setback
hrtp 'Irhrar' 1 nuuu,u(IL cum Incc 1)o,A knA, 1_'518 1 `t5'`)U
'4 2nn7
SLACK
JOHNSTON
MAGENHEIMER
\RI ICI I \ tit'HF.I)t I t- tlI- I)1SIRI( I i `,t \\[) >I l l3 \(K RI-Gt t \1 "
75
No
35 ft 35%
1 minimum
5 ft except where prior zoning
district has a more liberal setback
standard which shall then apply
l'.lts� of 48
(d) Approval Process Prior to establishing any new use of lands designated GU the Village
shall conduct the following public heanngtsi
(1 ) The Village Council shall conduct a public hearing to determine the Use(s) to which
particular land purchased for Governmental Use may be put The public hearing before
the Village Council shall be held upon at least 15 days' notice of the time and place of
such hearing published in a newspaper of general circulation in the Village A courtesy
notice containing general information as to the date, time, and place of the hearing the
property location and general nature of the proposed Use may be mailed to the property
owners of record within a radius of 300 feet of the property on which the facility will be
located or such greater distance as the Village Manager may prescribe, provided
however that failure to mail or receive such courtesy notice shall not affect any action or
proceeding taken hereunder To provide additional notice to the public the property shall
be posted by a Sign or Signs indicating the action desired and the time and place of the
public hearing thereon
(2) At the public hearing the Village Council shall consider the Use(si to which the land
should be put from the list of Uses in paragraph (b) above considering among other
factors a recommendation by the Village Manager (if any) the public need therefor and
the existing land use pattern in the area After considering these factors and any public
comment the Village Council shall adopt a resolution establishing the Use(s) for the
property and take such action as is necessary to promote and protect the public health
safety and welfare of the citizens and residents of the Village
(3) If the Use(s) approved by the Village Council include the construction of any
Buildings or Structures on the property the Village Council shall conduct another public
hearing prior to the commencement of any construction activity That public hearing shall
be noticed in the same manner as the initial hearing described in subsection (d)(1)
above At the public hearing the Village Council shall review and evaluate a detailed Site
Plan for the property including all Buildings and improvements At a minimum the Site
Plan shall contain a schedule of development criteria as set forth in subsection (c)
above In its review and approval the Village Council shall apply the development
regulations in subsection (c) above except that the Village Council may waive the
regulations or any part of the regulations in the interest of the public health safety and
welfare to provide the facilities to serve the public After considering the Site Plan
recommendations of the Village Manager (if any) and public comment theVillage
Council may by resolution take such action as it deems necessary or appropriate to
promote and protect the public health safety and welfare of the citizens and residents of
the Village including the approval of the Site Plan with any modifications thereto
(e) Permitted Recreational Activities Subject to the approval of a Beach Management Plan
pursuant to subsection (f) and the supplementary regulations in subsection lg) the activities as
described below shall be considered Main Permitted Uses on lands within the GU District which
are seaward of the Erosion Control Line (as identified in Section 1 03 of the Village Charter)
where such activities occur as ancillary and supportive of principal uses conducted on the
upland contiguous privately owned property
TABLE INSET
Type of Recreational Activities
Upland ( Upland
Hotel Private Beach
Club
Upland
Multi -Family
Residential
Use of lounges/chairsiumbreilas Yes
Yes
Yes
'Mr 11b1,11, 1 111llnit.OkiC u0111 111CL 1)OCA- ICV 1 )_ 1 8 1 i'' 0(1
SLACK
JOHNSTON
MAGENHEIMER
\RI)( 11 \ Sc'Iim(f 1 Ol- i)IvI RR I I '1 \VC)SI FR \CKRI(rt-I \11i)v1 H e2ncat4:••
Food and Beverage Service
Yes
Special Events 1 Yes
r
Use of Non-Motonzed Vessels 2 I Yes
Yes
Yes
Yes
No
Yes
No 3
1 Special Events shall be limited to the following organized athletic events meetings, parties
weddings fireworks displays, or professional film activities and shall be subject to obtaining a Special
Event Permit pursuant to section 17-5 of the Village Code
2 Up to six non -motorized Vessels (as defined in Section 327 02(37) Florida Statutes) shall be
permitted for use in conjunction with and as accessory to hotels of at least 250 rooms or private beach
clubs They shall be operated only through an approved channel authorized under section 4-32 of the
Village Code and shall be uniformly marked and painted in a uniquely identifiable manner associated
only with the hotel property or private beach club Additionally except for an authorized rescue vessel
approved under subsection (g)(9) below the use of motorized vessels is absolutely prohibited
3 Nothing in this section shall be construed or interpreted to preclude individual Village residents from
the legal use and enjoyment of the public beach area or deny or impair the common law riparian rights
of persons owning property which fronts the public beach area or to require that individual residents
(including specifically residents within any multifamily apartment building) obtain an approved Beach
Management Plan for such activities
(f) Beach Management Plan Approval As a condition to the establishment use and operation
of any of the uses listed in subsection (e) above (except for Special Events which require a
Special Event Permit) a plan for the proposed use and operation (Beach Management Plan)
shall be submitted and approved by the Village Except for the use of lounges chairs and
umbrellas all Beach Management Plans shall require the approval of the Village Council after a
public hearing noticed in accordance with section 30-68 of the Village Code Beach
Management Plans for the use of lounges chairs and umbrellas shall be approved by the
Village Manager In the approval the Village Manager or Village Council must find that the
proposed activity(ies) comply with the requirements of this section and do not constitute a threat
to public safety or welfare or constitute a danger or impediment to the public beach area The
Village Council or the Village Manager shall impose reasonable restrictions and conditions on
the approval of the Beach Management Plan in orderto preserve the health safety and welfare
of the Village residents Violation of any provision of the approved Beach Management Plan
automatically results in the revocation the Beach Management Plan approval Nothing in this
section shall be construed or interpreted to preclude individual Village residents from the legal
use and enjoyment of the public beach area or deny or impair the common law iparian rights of
persons owning property which fronts the public beach area or to require that individual
residents (including specifically residents within any multifamily apartment building) obtain an
approved Beach Management Plan for such activities
(1 ) Beach Management Plan Application and Procedures In a form provided by the
Village all Beach Management Plans shall be submitted to the Village Manager and
shall contain the following information
a A detailed and dimensioned site plan depicting the type and location of all
proposed activity(ies) structures garbage containers storage areas and where
the use of Vessels is proposed the proposed location of a channel to be
approved by Village Council pursuant to section 4-32 of the Village Code
b If applicable the number of proposed Vessels
Proposed hours of operation
d Proposed safety and emergency plans
e If applicable storage hours of use and method of fueling of an all terrain
vehicle authorized under subsection (g)(10) below
http Irhr iry 1 nu nic is L rn mcc t)ocA ion+, 12518 1 S; QOl =, ,4 20(i'
SLACK
JOHNSTON
MAGENHEIMER
\1 1 1(`[ F \ 5<'F[1 [)I [ 1 01 I)I'1RR 1 1 of \vI) FBA( K RI (rt [ \TIO\'
P.t.0 ' (II 1g
f Indemnity and Insurance (with Village as additional insured) in a form and
amount approved by Village Attorney
g Proof of ownership of adjacent upland property or written authorization from
upland property owner
h Application fee plus the annual inspection fee for the approved activity as
established by resolution pursuant to section 30-4 of the Village Code
1 Any additional information as reasonably required by the Village Manager
(g) Supplementary Regulations The recreational activities identified in subsection (e) shall be
subject to the following restrictions
(1 } All activities shall be conducted as accessory to the adjacent contiguous upland
property
(2) It is prohibited to conduct the sale or rental of any equipment or food and beverage
item associated with any permitted activity upon the public beach The sale or rental
shall only be conducted upon the associated upland private property
(3) None of the permitted activities shall be conducted or maintained outside of the
property area contained within the extension of the side lot lines of the upland property
as they extend seaward toward the waterline
(4) Activities adjacent to the upland hotel and private beach club properties shall be
setback 20 feet from the adjacent property side lot lines as extended seaward toward the
waterline
(5) Activities adjacent to the upland multi -family residential properties shall be setback
100 feet from the adjacent property side lot lines as extended seaward toward the
waterline
(6) None of the permitted activities including the storage of any equipment shall be
maintained or conducted within five feet of the dune as defined pursuant to Section
161 54, Florida Statutes or within 15 feet of the waterline unless overnight storage on
the public beach is approved pursuant to a Beach Management Plan
(7) Except for one corporate insignia no larger than 20 square inches identifying the
applicant or the upland property owner, commercial advertising shall be prohibited on all
equipment associated with any approved activity
(8) Except as approved pursuant to a Special Event Permit hours of operation shall be
limited to between sunup and sundown each day and all equipment furniture and
temporary structures (if any) shall be removed from the public beach by sundown each
day unless overnight storage on the public beach is approved pursuant to a Beach
Management Plan This limitation shall not apply to the use of chairs and lounges for
viewing fireworks displays on Independence Day or New Year's Eve
(9) The use of non -motorized vessels shall be prohibited without the onsite provision of
one personal watercraft as defined in Section 327 02 Florida Statutes maintained in
good working condition and available at all times for emergency rescue purposes The
personal watercraft shall have a four stroke engine or best available technology be
equipped with an operational marine radio or wireless phone and shall satisfy all U S
Coast Guard safety requirements
( 10) Except for an unenclosed motorized all terrain vehicle approved pursuant to a
Beach Management Plan it is prohibited to use or operate or to allow another to use or
operate upon or along the public beach or upon any beach or shoreline or waters
adjacent thereto any motorized vehicle The private use of an all terrain vehicle must be
limited in use to the loading and unloading of equipment permitted under an approved
httj� `lihru: 1 muniLr,dc Lunt MCC -1)00,1,n, l.2518 I 859u ; 24 218)7
SLACK
JOHNSTON
MAGENHEIMER
\R 11(1 1 \ ti( H[ -Dl I 1 Ot D1ti WI( 1 tiI - \\I) �I I iiA�K E L( I '1 \ 1 1( or -18
Beach Management Plan This prohibition shall not apply to any municipal county or
state vehicle or to any vehicle or equipment authorized by the Village to be used or
operated for a public purpose
(11) Approval of a Beach Management Plan does not exempt user from adhering to all
local state and federal statutes and regulations and requirements, including out not
limited to Article II "Occupational License Tax" of Chapter 25 "Taxation" of the Village
Code
(h) Change Upon Sale or Lease Expiration Upon the sale (or expiration of a long term lease)
of GU land that was owned (or leased) by the Village, the Village Council shall change the
zoning district designation pursuant to the procedures established in this section
0) Conflict This section 30-102 shall be the exclusive regulation governing lands designated
GU and to the extent that it conflicts with any other section of this chapter this section shall
control
(Ord
No 2000-5 § 2, 5-9-00 Ord No 2003-1 § 2 2-11-03 Ord No 2005-5 § 2 5-24-05)
Sec. 30-103. Hotel Resort District.
(a) Purpose and Uses
TABLE INSET
District Purpose
Main
Permitted
Uses
Conditional
Uses
Accessory Uses
Prohibited Uses
This district is
designed to promote
the Development of
ocean resort Hotels
and multiple Family
residences
Hotel
Apartment
Building
None
(b) Development Regulations
TABLE INSET
Any Use that is
customarily
associated with
the Main
Permitted Uses
(See sec 30-111)
Any Use not
listed as a Main
Permitted Use
Conditional Use
or Accessory Use
(See sec 30-
113)
Density
Maximum
Height
Lot
Coverage
Minimum
Lot Area
Hotel 30 Units per acre
No Development shall exceed 350 Hotel
Units
Apartment Building 16 Units per acre
If a Development contains Hotel and
Apartment Units, then Lot area which is
counted towards one Use cannot be
counted towards another Use
150 ft
40
The site shall be
subdivided as of the
date of this
ordinance
TABLE INSET
Setback
Floor Area Ratio
http lihr.tr.1 inuni_ode earn mcc U,,c 12;3)8 1,85 ,)()
i 24^_0h17
SLACK
JOHNSTON
MAGENHEIMER
\R1 I( 1,1 \ S( I )1 1)L[ 1 O1 1)[S IRI( I 1 s1 \v1) S1-1 li.\( 1ti R1.(,t I \ I I( )\
Sec. 30-106. Office District.
0-1 Low Intensity Office District
(a) Purpose and Uses
TABLE INSET
District Purpose
This district permits the
Development of land in
a low intensity manner
and Buildings which are
designed to be
compatible with
adjacent Residential
Uses
Main
Permitted
Uses
Office
it)) Development Regulations
TABLE INSET
Setbacks
Front 20 ft
Conditional
Uses
None
I'dc� 31 448
Accessory Uses
Prohibited Uses
Any Use that is
customarily
associated with
the Main
Permitted Uses
(See sec 30-
111)
Any Use not listed
as a Mai
Permitted Use,
Conditional Use
or Accessory
Use (See sec 30-
113)
1
Maximum Floor
Height AreaRatio
1-
35 ft 0 50
Lot
Coverage
Minimum Lot Area
40%
Side Interior
10 ft
Side, Facing
Street 10 ft
Rear 20 ft
12,500 sq ft or as subdivided
as of the date of the adoption
of this ordinance
(c) Performance standards
(1) Walls facing a Street shall include a minimum of 50 percent of the surface in
windows and doors
(2) Walls facing residentially zoned property shall not have windows however the
design of the Wall shall include architectural treatments that add visual interest such as
scoring, caps, columns reveals, and similar architectural treatments The design shall
be approved by the Building Zoning and Planning Director
3) For properties that front on Crandon Boulevard the performance standards of the
C-1 Low Intensity Commercial District subsection 30-101(e) shall apply
(di Burglar alarm Shall not face residentially zoned property
(e) Buffering and screening A decorative opaque six-foot CBS Wall shall be placed on any
property line that is adjacent to a residential district There shall be a five-foot Setback from the
Wall This area shall be landscaped with dense materials The design of the Wall and the
landscaping shall be approved by the Building Zoning, and Planning Directoi The Director shall
determine if the Wall and landscaping provides an adequate buffer and screen between the
office Uses and the Adjacent Properties
Imp arj. 1 munk.ude corn mcc DocVlev, 12518 1 S5 'Hi
` 24 2uO
SLACK
JOHNSTON
MAGENHEIMER
-\RI ICI I \ S(21 11 -1)I [ 1 Of t)Ic, IRK I I ".I \\I) S1 1 [3-\( K Rp(r1 I \ l I( (\`, I'.r L :4 tit
if) Perimeter Walls and fences that face a Street shall be set back two feet from the Lot line
(Ord No 2000-5 § 2 5-9-00 Ord No 2005-19 § 4 11-22-05)
Sec. 30-107. Private Club.
(a) Purpose and Uses
TABLE INSET
District Purpose
Main
Permitted
Uses
Conditional
Uses
Accessory Uses
Prohibited Uses
This district is
designed to permit
non-commercial
private facilities that
provide recreational
and social activities
for their members and
guests
Main
Permitted
Uses
Private
Club
None
Any Use that is
customarily
associated with
the Main Permitted
Uses or
Conditional Uses
(See sec 30-111)
Any Use not listed
as a se
ain
Permitted Use
Conditional Use
or Accessory Use
(See sec 30
113 )
(b) Development Regulations
TABLE INSET
Setbacks
Floor
Area
Ratio
Maximum
Height
Lot
Coverage Lot Area
Front 50 ft
Side 25 ft
Rear
Bayfront 25 ft
Oceanfront - No
encroachment into the
Coastal Construction Line
area is permitted
15
35 ft
15
The site shall be
subdivided as of the
date of this
ordinance
See Lot Coverage definition in Article II Lot Coverage shall also include non -roofed areas enclosed
by Walls (excluding Building Walls) which exceed six feet in height Lot Coverage shall also include any
boat storage facility (rack) which exceeds ten feet in height when measured from the ground to the top
of the uppermost boat Additionally, an increase of up to five percent of Lot Coverage is permitted for
Gazebos Porches or similar Structures
(c) If a Building is damaged by a natural disaster or other casualty the application of the above
Development Regulations shall not preclude the repair or reconstruction of any Building or
portion thereof however the repair and reconstruction work shall only occur within the original
building envelope and with the same or fewer number of Units than existed poor to the natural
disaster or other casualty
(d) Site Plan review shall be required pursuant to section 30-80 The following criteria shall
also be utilized for water and marina dependent Uses
(1) Must have a minimum four -foot depth at mean low tide in the manna basin canal
and Access channel and direct Access to the Intracoastal waterway (if applicable) or to
another dredged channel or area with a minimum of six feet clearance at mean low tide
http lihrar I muni. de corn, 13»,_ 1251 R 1 t; 90 2 i 21)1)7
SLACK
JOHNSTON
MAGENHEIMER
\R I k 1 \ S( 111.1)1 I l Of DI' [ RI( 1 I tiT . A\D SF FFL\( 1 RE (;l 1
(2t Must be compatible with existing and surrounding land Uses and of sufficient size to
accommodate the specific project and the required Parking
(3) Oceanfront property should preserve or improve traditional public shoreline Uses
and public Access to estuarine and coastal waters preserve or enhance the quality of
the estuarine and coastal waters water circulation tidal flushing and light penetration
and preserve archeological artifacts or zones and preserve or incorporate historic sites
(4) Shall provide substantiation that the project is consistent with the purpose of the
zoning district
(5) Shall demonstrate that the Development is compatible in terms of scale and Uses
with Adjacent Properties
(6) Shall demonstrate that the impact on the infrastructure is consistent with the Level
of Service established in the master plan
(7) Shall list the benefits to the community in terms of urban economic and cultural
impact
(81 Construction or subsequent operation of any new or expanded marina shall not
destroy or degrade hammocks pinelands salt marshes mangrove protection areas,
seagrass hard bottom communities or habitats used by endangered or threatened
species unless approved by the appropriate regulatory agencies
In making the above determinations, the Building Zoning and Planning Director may require the
applicant to provide documentation and studies supporting such findings An application for Site Plan
review shall address each of the above criteria
(Ord No 2000-5 § 2 5-9-00)
Sec. 30-108. PROS Public Recreation and Open Space District.
(a) Purpose and Uses The PROS Public Recreation and Open Space Use District is an
alternative zoning district to the GU Government Use District, where the Village has ownership
or a long term lease (five years or more) of land and desires to use the land for public recreation
or open space purposes
TABLE INSET
District Purpose
Main Conditional
Permitted
Uses Uses
Accessory Uses
This district is
designed to permit
public non-
commercial
recreational or
open space Uses
Parks
swimming
pools and
decks
Active and
passive
recreational
Uses
None
Any Use that is
customanly
associated with a
Main Permitted
Use (See sec 30-
111;
1
Prohibited Uses
Any Use not
listed as a Main
Permitted Use or
Accessory Use
(See sec 30-
113)
(b) Development Regulations In approving development for lands designated PROS the
Village Council shall use the following Development Regulations
TABLE INSET
http 1 municode Loin mcL,Doc\ie 1 518 1 8'S'Qi1
s '4 2007
SLACK
JOHNSTON
MAGENHEIMER
ADDENDUM D
Qualifications of the Appraiser
SLACK
JOHNSTON
MAGENHEIMER
ANDREW H. MAGENHEIMER, MAI
EDUCATION:
Bachelor's Degree, The University of the South, Sewanee, Tennessee, 1986
EXPERIENCE:
Eighteen years in the field of real estate, involved in various forms of consultation,
appraisal, economic research and market analysis.
June, 1997 to Present, Principal, Slack, Johnston & Magenheimer, Inc.
August, 1991 to May, 1997, Senior Appraiser, Slack & Johnston, Inc.
February, 1987 to July. 1991, Staff Appraiser, Dixon & Friedman, Inc.
GENERAL APPRAISAL EXPERIENCE:
Appraisals - Vacant land, aviation facilities, industrial facilities, shopping centers, office
buildings, apartment buildings. residential developments and single-family residences.
Consulting - Economic research, market analysis, feasibility analysis and ad valorem real
estate tax assessment appeals pertaining to industrial, commercial and residential
properties.
AFFILIATIONS:
Licensed Florida Real Estate Broker
Florida State -Certified General Real Estate Appraiser, Certification No. RZ1073
Appraisal Institute Member, MAI, Certificate Number 10133, Continuing Education
Completed
HUD MAP Training
2002 President of the South Florida Chapter of the Appraisal Institute
SLACK
JOHNSTON
MAGENHEIMER
KIMBERLY MAGENHEIMER
EXPERIENCE:
Slack, Johnston & Magenheimer, Inc. - Staff Appraiser - July, 1988/Present
Blazejack & Company, Inc. - Staff Appraiser - 1987/1988
Slack, Slack, Roe & Blazejack, Inc. - Administrative/Research - 1986/1987
Cushman & Wakefield Appraisal Division - Administrative Assistant - 1984/1986
Ms. Magenheimer has been a Florida resident since 1964 and has over 18 years
experience in the field of real estate involving various forms of consultation, appraisal,
economic research and market analysis. Appraisal/consulting experience includes the
following property types:
Apartment
Automobile Dealership
Bank
Church
Environmentally Sensitive Lands
Hotel
Hospital
Office Condominium
Office Building
Restaurant
Shopping Center
Single Family Residences
Transportation Corridor
Warehouse
Warehouse Condominium
Various Classifications of Vacant Land
COURSES:
Appraisal Institute
Standards of Professional Practice
Real Estate Appraisal Principles
Real Estate Appraisal Procedures
Capitalization Theory and Techniques - Parts A and B
Marshall & Swift Valuation Service
Basic Use and Understanding of the Calculator Method
Real Property Analytics, Inc.
Pro-Ject + Plus
AFFILIATIONS:
Licensed Florida Real Estate Salesman
Florida State -Certified General Real Estate Appraiser, Certification No. RZ1386
Updated 04/03
SLACK
JOHNSTON
MAGENHEIMER