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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A CONTRACT FOR SALE AND PURCHASE BETWEEN THE CITY OF POMPANO BEACH AND CHRIST CHURCH UNITED METHODIST, INC. FOR THE PURCHASE OF SIX PROPERTIES LOCATED WEST OF FOUNDERS PARK BETWEEN NE 2ND AVENUE ON THE WEST, NE 3RD AVENUE ON THE EAST, NE 4TH STREET ON THE NORTH AND NE 1ST STREET ON THE SOUTH, FOR USE AS A MUNICIPAL CHARTER SCHOOL; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $7,612,500.00)
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(Staff Contact: Cassandra LeMasurier)
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Summary Explanation/Background:
Property owner Christ Church United Methodist, Inc. (“Church”) has obtained the necessary approvals to sell their Pompano Beach Campus located directly west of Founder’s Park to the City of Pompano Beach for $7,612,500 for the future City of Pompano Beach Municipal Charter School. The City has obtained two (2) independent appraisals that range in value from $7,250,000 to $7,850,000. The Church has also obtained an appraisal valuing the property at $8,100,000. The current Broward County Property Appraiser just/market value is $6,592,180.
The six (6) folios total 216,177 square feet (4.96 acres) in land area with buildings totaling 55,159 square feet and are zoned Transit Oriented within the Downtown Pompano Overlay District (TO/DPOD.) This location was selected for the Charter School due to its large land area, central location in the City and proximity to City Hall and the City’s cultural and historic venues including the Cultural Center, Baily Contemporary Arts Center, Historic Ali Cultural Arts Center and the Pompano Beach Historical Society and Kester Museums and Pompano Fire Museum at Founder’s Park and the Broward County public library.
The Broward County Property Appraiser information is included as Exhibit 1 to Real Property Manager Memo 21-019 in the agenda backup. A map of the properties and their proximity to City Hall and cultural and historic venues is included as Exhibit 1 of the agenda backup.
Staff is requesting City Commission approval of the sale and purchase contract.
Origin of request for this action: Staff
Fiscal impact and source of funding: $7,612,500 from General Fund Balance with attached Budget Adjustment. Entire amount may be reimbursed from the Certificates of Participation financing for the municipal charter school, subject to City Commission approval at a future date.
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RStrategic Plan Initiative
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Goal 1 Preferred Place to Live; Policy Action - Charter School Development