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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND CONSENTING TO AN ASSIGNMENT AND ASSUMPTION OF A GROUND LEASE WITH THE CITY AT NORTH OCEAN BOULEVARD AND NORTH POMPANO BEACH BOULEVARD BETWEEN JJ LAND REALTY,LLC, AS ASSIGNOR, AND RW OCEANSIDE LAND LLC, & CF LAND REALTY LLC, AS ASSIGNEE, AND THEN APPROVING AND CONSENTING TO A SUBSEQUENT ASSIGNMENT AND ASSUMPTION OF THAT GROUND LEASE BETWEEN RW OCEANSIDE LAND LLC & CF LAND REALTY LLC, AS ASSIGNOR, AND 20 NORTH OCEANSIDE OWNER, LLC; AUTHORIZING THE EXECUTION OF THE APPROVALS AND CONSENTS BY THE PROPER CITY OFFICIALS; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Suzette Sibble)
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Summary Explanation/Background:
The City has a ground lease related to this property to provide for public parking (268 parking spaces). The property has been sold, which necessitates the assignment of the City’s ground lease to the current owner. The property is located between A1A (Ocean Blvd.) and PB Boulevard just north of Atlantic Boulevard.
Origin of request for this action: City Manager’s Office
Fiscal impact and source of funding: N/A
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