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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA) APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A THIRD AMENDMENT TO THE PROPERTY DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE CRA AND SOLSTICE TOWNHOMES LLC, RELATING TO LAND LOCATED ON THE WEST SIDE OF NORTH DIXIE HIGHWAY, BETWEEN NW 15TH COURT AND NW 15TH PLACE, TO EXTEND THE CONSTRUCTION COMPLETION DATE TO MARCH 30, 2026; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Nguyen Tran)
summary
Summary Explanation/Background:
The CRA Board approved a Property Disposition and Development Agreement (Agreement) with FD Construction Consulting, Inc. on September 21, 2021 to construct ten (10) townhomes located at North Dixie Highway between NW 15 Court and NW 15 Place. A First Amendment to the Agreement was approved on April 18, 2023 extending the Construction Completion Deadline to December 31, 2024. The CRA Board approved a Second Amendment which allowed the Assignment from FD Construction Consulting, LLC to Solstice Townhomes, LLC and extended the construction completion date to September 30, 2025. The Project is currently under construction and the Developer anticipates project completion on or near the current Construction Completion Deadline; however, in an abundance of caution, the Developer requested an additional six (6) months until March 30, 2026.
Origin of request for this action: Staff
Fiscal impact and source of funding: N/A
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