Rebuilding roadblock?

 

Rebuilding roadblock?

 

Date: April 27, 2011
by: Kurt Schultheis | City Editor

 
 

The Colony Beach & Tennis Resort unit owners may have an issue renovating what’s currently on the property because of a town flood-control ordinance that has ties to Federal Emergency Management Agency (FEMA) guidelines.

Planning, Zoning and Building Director Monica Simpson told the Longboat Key Planning and Zoning Board April 19 that the town’s flood-control ordinance states that a property owner whose property is not up to current FEMA building regulations is only allowed to make improvements and renovations to an existing property up to 50% of the appraised value.

If the town were to allow the unit owners to rebuild more than 50% of the appraised value, it could jeopardize the town’s flood insurance.

The comments worried planning board member John Wild and others.

“The appraised value of those units keeps going down, so they (the units owners) wouldn’t have much money to play with,” Wild said.

Simpson, however, told the board that it’s difficult to discuss hypothetical situations until the Colony Beach & Tennis Resort Association comes to planning staff with specific proposals for review.

Simpson said Colony unit owners and any other property owner is allowed to use either the Sarasota County Property Appraiser Office’s appraisal of the property and add 10% or hire a private appraiser to come up with the appraisal number.

Town attorney David Persson says the flood-control ordinance stems from federal flood requirements and is also based upon the state’s flood ordinance.

“Improvements to a FEMA nonconforming structure are limited to 50% of the value of the structure as determined prior to construction,” Persson said. “The Colony structures are FEMA nonconforming.”
Persson, however, told the Longboat Observer that the Colony units’ drop in assessed value are not the issue. The main issue is the continued deterioration of the Colony buildings.

“The drop in valuations isn’t as much of a problem because it’s the value of the structure that makes the determination,” Persson said. “The valuation of the units, for example, takes into account many more things, such as what’s happening in the real-estate market. However, the valuation of the structure will decline as the structure continues to deteriorate.”

Both Persson and Simpson said that although the flood-control ordinance will be looked at with any Colony redevelopment proposal, there are a myriad of other issues that will have to be monitored closely with any plan that proposes leaving the existing buildings on site.

“Although the flood regulations get great notoriety, there are state building-code requirements as well, such as wind loads on windows, that will need to be addressed,” Persson said.

Colony Beach & Tennis Resort Association President Jay Yablon declined to comment on the issues that face the Colony if it chooses to redevelop rather than teardown and rebuild. Yablon said it’s up to the nine development proposals left on the table to work with and hold meetings with the town to go over the issues any project might face.

“Our position is to wait and see what gets proposed,” Yablon said.

Persson noted that there are ways around the flood-control-ordinance issue that include breaking down a larger project into phases.

“It’s common now for an owner to get a permit to improve a nonconforming FEMA structure, finish that project, then seek another permit (for another phase of the project),” Persson said. “The FEMA shift over the years has gone from making it very difficult to improve a nonconforming structure to making it relatively easy. The theory has shifted from promoting knockdowns to encouraging compliance with current building codes.”

But Persson said that state building codes have been strengthened over the years because of recent hurricanes, which could make it difficult for the Colony to make renovations to the existing buildings due to more stringent building codes.

In an April 15 e-mail to Colony unit owners, Yablon included a list of requirements for the nine proposals that include the mandate: “Provide a summary of how you will plan to address any legal and regulatory requirements associated with a renovation or new development, such as, but not limited to FEMA.”

The nine developers will also be required to meet with town staff to discuss their proposals and how town, state and federal mandates could affect them.

Contact Kurt Schultheis at kschultheis@yourobserver.com


Colony Beach & Tennis Resort Sales in 2011

 

The following Colony Beach & Tennis Resort sales have been recorded year to date.*

 

            2011 Sale    Previous
Unit     Price           Price

 

113N    $50,000     $45,000

 

117N    $27,000     $79,000

 

105S    $65,000     $75,000

 

145S    $60,000     $120,000

 

145N    $60,000     $67,000

 

118S    $45,000     $122,000

 

104N    $50,000     $136,500

 

144S    $50,000     $84,000

 

*All of the above units are 705 square feet.

 


 

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Currently 3 Responses

  • 1.
  • As I've said before, the only plan that makes sense is a teardown and a rebuild. Built in the mid 1960's and allowed to deteriorate for the past two years leaves nothing to rehabilitate. It would be throwing good money after bad. Let a phoenix rise from the ashes of The Colony!
  •  
  • Milan Adrian
    Sat 30th Apr 2011
    at 4:30pm
  • 2.
  • The only scenario that makes any sense is to demolish and build anew to current State and Federal Codes. The owners should hire a consultant to supervise the construction and also apply for additional tourist units out of the current bank of 250 which remains untouched. The project is financeable as the land that the owners control is free and clear of any mortgages. The additional units could then be sold by the Owners Association to help offset the cost of construction. The end result would be a new comparable unit in size to what existed previously with new amenities for use by the owners for the same 30 days use with some time constraints as they had here to before. The possibility exists that there may even be some income after expenses to the ultimate resort operator to distribute for the other 11 months . The resort operator would have exclusive use for the remaining 11 months, but could not pass on any losses to the unit owners and would be responsible for the maintenance of the new structures. A restaurant and small grocery shop would be operated and rented out to a non-related 3rd party to avoid any conflict of interest between the resort operator and the unit owners. Tennis and use of the pool, beach and exercise and spa facilities would be free to the unit owners when in occupancy along with customary cleaning and maid services. All other services would be optional and priced accordingly. Now let's see if 75% of the unit owners can agree to this scenario.
  •  
  • Lee Pokoik
    Wed 27th Apr 2011
    at 11:21pm
  • 3.
  • One has to wonder if some of these units are being bought by "straw man" buyers at these very low prices, in order to gain votes for some of the nine bidders to redevelop or revitalize the Colony. If continued delay leads to down-zoning, a fair market price for current owners to be bought out (as fewer replacement units are authorized) can only keep diminishing as lower and lower sale prices during 2011 are seen.
  •  
  • John Wild
    Wed 27th Apr 2011
    at 2:57pm
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