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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), ACKNOWLEDGING ADDITIONAL ELEMENTS OF THE DOWNTOWN PROJECT (ADDITIONAL PROJECT ELEMENTS) RELATING TO HISTORY, CULTURE AND ART, INCLUDING: FEATURES SUCH AS A SPORTS HALL WALL OF FAME FEATURE; PIONEER MONUMENT; LEGACY FEATURE AND HISTORICAL BUSINESS WALKWAY; RELATING TO COMMUNITY LIAISONS/CONSULTANTS; AND RELATING TO SATELITE COLLEGE OPPORTUNITY; RELATING TO AN EDUCATION RESOURCE CENTER; ACKNOWLEDGING RESIDENTIAL WORKFORCE HOUSING REQUIREMENTS; APPROVING PROGRAMS RELATING TO AFFORDABLE HOUSING, INCLUDING DOWN PAYMENT AND RENTAL ASSISTANCE PROGRAMS AND POTENTIAL “TINY HOME” PROGRAM; STRATEGIC INFRASTRUCTURE, INCLUDING STREETSCAPES AND STREET LIGHTING; AND LOCAL BUSINESS ENTERPRISES PARTICIPATION; ACKNOWLEDGING COMMUNITY BENEFITS TRUST FUNDING BY DEVELOPER OF $6,500,000 PAYABLE OVER TEN YEARS; 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, LOCAL BUSINESS ENTERPRISE PARTICIPATION AND FUNDING THE COMMUNITY BENEFITS TRUST, TOGETHER WITH ALL DOCUMENTS NECESSARY TO EFFECTUATE THE FIRST AMENDMENT; ALL SUCH APPROVALS CONTINGENT ON APPROVAL BY THE CITY COMMISSION OF THE DESIGN CONCEPT FOR CITY HALL AND PARKING GARAGE, AUTHORIZATION FOR THE ISSUANCE OF THE MASTER INFRASTRUCTURE BOND AND APPROVAL OF THE ISSUANCE OF PUBLIC FINANCING OF THE CIVIC BUILDINGS; 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:
This Resolution acknowledges Additional Project Elements as follows:
--Acknowledgment that a decision regarding whether to build a new E. Pat Larkins Center or renovate the existing community center has not been made and preserving funding in the public financing to ensure that either option can be determined.
--Additional project elements, including history/culture/art features such as a Sports Hall Walk of Fame, Pioneer Monument, Legacy feature, and historical business walkway, all to be disbursed throughout the New Downtown and not clustered in one area;
--Community Liaisons/Consultants - the District Commissioner, working with the City Contract Administrator, will approve the selection of two NW residents to serve as community liaisons/consultants with the City, the CRA, and the Developer to assist with job placement, meeting with community groups, etc. with annual salaries of $48,000 each;
--Satellite College Opportunity - reservation of a developable pad of Developer’s choosing for a period of two years while the City/CRA and Community seek to recruit a college or university to locate a satellite facility in the New Downtown or the greater Northwest Community;
--Education Resource Center - to be included in a new E. Pat Larkins Center if the City Commission determines a new center is in the best interest of the community;
--Residential Workforce Housing - acknowledgement of the existing code requirements and developer agreement to forego the in-lieu payment option set forth in Section 155.3708(H)(4)(b) of the City’s Zoning Code. ;
--Affordable Housing Amendment to NWCRA Plan - once adopted, the CRA will budget at least $1Million annually (after payment of all CRA expenses, including meeting debt service requirements) for down payment assistance, rental assistance, and tiny homes, if feasible;
--Strategic Infrastructure - the CRA will budget at least $1 Million annually (after payment of all CRA expenses, including meeting debt service requirements) for strategic infrastructure needs within the greater Northwest community for streetscapes, enhanced lighting, etc.
--Local Business Enterprises (LBEs) Participation - the MDA will be amended to provide for an LBEs participation program to empower local businesses to participate in the development of the Master Project; the City will include $2 Million in the public financing to fund the costs of operating the LBEs program;
--Community Benefits Trust - the Developer will establish a community benefits fund to be funded over a period of ten years in the amount of $6.5 Million, such funding to be derived by adjusting the Developer’s performance payment schedule and the ratio of the land sale proceeds distribution;
--Small Business Entrepreneurship Incubator Program - the City will select a qualified operator of a small business entrepreneurship incubator program in a space to be determined;
--First Amendment to the MDA - amends the MDA to incorporate the Additional Project Elements, the LBEs program and the obligation to fund the community benefits trust;
All approvals relating to the Additional Project Elements, the LBE Participation Fund, the Community Benefits Trust and the First Amendment to the MDA are subject to approval by the City Commission of the Design Concept for City hall and Parking Garage, authorization for issuance of the Master Infrastructure Bond and approval of the Public Financing of the Civic Buildings.
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 the education resource center and local business enterprise 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 from the Downtown Project.
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