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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, AS MORTGAGEE TO THE REAL PROPERTY LOCATED AT 1850 DR. MARTIN LUTHER KING, JR. BLVD., POMPANO BEACH, FLORIDA, CONSENTING AND JOINING IN THE DECLARATION OF RESTRICTIVE COVENANTS BETWEEN BROWARD COUNTY AND MARQUIS PARTNERS, LTD. TO BUILD A 100-UNIT AFFORDABLE HOUSING DEVELOPMENT AT THE SUBJECT PROPERTY TO BE KNOWN AS MARQUIS APARTMENTS; AUTHORIZING AND APPROVING PROPER CITY OFFICIALS TO EXECUTE SUCH DECLARATION; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Miriam Carrillo/Vincent Wooten)
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Summary Explanation/Background:
This is a companion item to the April 28, 2020 Agenda item No. 11 file no. 20-365 regarding Marquis Apartments project and Amendment to the Development Agreement in connection with the 100 unit Affordable Housing project at located 1820-1850 Hammondville Road.
The Owner is requesting the City join in the Restrictive Covenant Agreement which specifies the Owner has applied to BROWARD COUNTY for the waiver of ninety-nine thousand six hundred eighteen and 00/100 ($99,618.00) in impact and/or administrative fees related to the Plat. Pursuant to Section 5-184 of the Broward County Land Development Code, a condition of waiving the impact and/or administrative fees for affordable housing is that OWNER must reasonably ensure that affordable housing units are rented or sold to persons meeting the income limitations defined in Section 5-201 of the Broward County Code of Ordinances.
The covenant imposes no obligation on the City, just confirms that the Developer will build and maintain affordable housing on the property pursuant to the Development Agreement which allows Broward County to waive the impact fees for on the Project.
Origin of request for this action: OHUI
Fiscal impact and source of funding: N/A
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