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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), ACKNOWLEDGING ADDITIONAL ELEMENTS OF THE DOWNTOWN PROJECT (ADDITIONAL PROJECT ELEMENTS) INCLUDING: AN EDUCATIONAL COMPONENT; VOCATIONAL TRAINING PROGRAM; COLLEGE RESOURCE CENTER; SPORTS HALL WALL OF FAME FEATURE; PIONEER MONUMENT; HISTORICAL BUSINESS WALKWAY; RESIDENTIAL WORKFORCE HOUSING; COMMERCIAL AND RESIDENTIAL DEVELOPERS AND CONTRACTORS WORKSHOPS AND ONSITE JOB FAIRS; CONTINUED RESIDENT AND TENANT RELOCATION AND TRANSITION; JOB PLACEMENT CONSULTANT PROGRAM; $500,000 COMMUNITY BENEFITS FUNDING; SMALL BUSINESS ENTREPRENEURSHIP INCUBATOR PROGRAM, INCLUDING INCENTIVES; APPROVING AN INCREASE TO THE CIVIC BUILDING FINANCING TO FUND COSTS ASSOCIATED WITH THE ADDITIONAL PROJECT ELEMENTS; APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A FIRST AMENDMENT TO THE POMPANO BEACH DOWNTOWN PUBLIC PRIVATE REDEVELOPMENT AGREEMENT (THE MASTER DEVELOPMENT AGREEMENT) BETWEEN THE CITY OF POMPANO BEACH (CITY), THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), AND RP POMPANO, LLC, (FIRST AMENDMENT) THAT INCORPORATES THE OBLIGATIONS RELATING TO THE ADDITIONAL PROJECT ELEMENTS AND ESTABLISHES PROJECT INCENTIVES, TOGETHER WITH ALL DOCUMENTS NECESSARY TO EFFECTUATE THE FIRST AMENDMENT; AND ACKNOWLEDGING APPROVAL OF THE DESIGN CONCEPT FOR CITY HALL AND PARKING GARAGE; PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES.
(Fiscal Impact: $9 million increase to the civic facilities budget for costs associated with vocational tech./college resource center and local business participation incentives to be financed over 30 years as part of the City’s self-financing for the civic facilities; additional costs associated with Additional Project Elements will be funded with revenues generated by the Downtown.)
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(Staff Contact: Suzette Sibble/Nguyen Tran)
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Summary Explanation/Background:
The Master Project Resolution provides for acknowledgement of the City’s approval of Additional Project Elements that include vocational training program, college resource center, sports hall wall of fame feature, pioneer monument, and historical business walkway.
It also acknowledges approval by the City of the following:
• Residential workforce housing pursuant to the City’s policies
• Commercial and residential developers’ and contractors’ workshops and onsite job fairs
• Job placement consultant program
• Civic building financing increase to fund costs associated with Additional Project Elements
• City Hall and Parking Garage Design Concept
The resolution acknowledges the Developer’s voluntary community benefits contribution of $500,000 for distribution to local schools and non-profits.
In addition to the above, the Master Project Resolution establishes a small business entrepreneurship incubator program, including incentives, that will be operated out of the commercial space the CRA leases in the Sonata Apartments building located at 100 NW 8th Street.
Finally, the resolution approves the First Amendment to the Master Development Agreement to incorporate obligations relating to the Additional Project Elements and establishing project incentives relating to local business participation for the Developer and third party purchasers.
Origin of request for this action: Staff
Fiscal impact and source of funding: $9 million increase to the civic facilities budget for costs associated with vocational tech./college resource center and local business participation incentives to be financed over 30 years as part of the City’s self-financing for the civic facilities; additional costs associated with Additional Project Elements will be funded with revenues generated by the Downtown.
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