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North Bay Village looks to developer contributions as Seabay Club project advances
Summary
Officials said PNZ approved two towers up to 500 feet for the Seabay Club/related parcels, constrained by a 70-units-per-acre rule, and that developers must pay roughly $2.45–$2.5 million toward Civic Park to help close a $3.2M funding gap.
Vice Mayor (speaker 2) told the advisory board that the Seabay Club-related project was approved by PNZ for two towers up to 500 feet but remains constrained by the village code requiring 70 units per acre. He said the developer would be required to pay about $2.45 million (rounded by the vice mayor to $2.5 million) toward Civic Park as part of the development agreement negotiation.
"In order for them to reach that height, they must pay the village an additional $2,450,000," the vice mayor said, and he described continuing efforts to secure further donations from other East Drive property owners to reach the roughly $3.2 million needed for Civic Park. Board members asked about density limits and transfer-of-development-rights options; the vice mayor said TDR availability would be limited to two additional units in the current design, and he described negotiations as ongoing.
