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P.H. 2025-37: (PUBLIC HEARING 2ND READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A FIRST AMENDMENT TO THE GROUND LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND 20 NORTH OCEANSIDE OWNERS, LLC; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: 45% net revenue split to owners, 55% to the City)
FIRST READING: FEBRUARY 25, 2025
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(Staff Contact: Jeff Lantz)
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Summary Explanation/Background:
The City entered into a Land Lease Agreement with JJ Land Realty in February 2020 approved by City ordinance 2020-31. On June 1, 2023 JJ Land Realty entered into an assignment of the Agreement with CF Land Realty and RW Oceanside Land LLC and subsequently assigned to 20 North Oceanside Owner LLC approved by City Resolution 2023-169. On March 28th 2024 the City entered into a First Amendment with 20 North Oceanside LLC as Ordinance 2024-26.
The Primary use of this property is public parking. This property is used daily by residents, area employees, patrons of local business and beach goers. This property has approximately 180 paved parking spaces and 130 parking spaces on an adjoining grass lot for a total of approximately 310 parking spaces. This property generated $871,199 in Fiscal Year 2024 with 45% going to the owner. Staff wishes to continue this agreement with 20 North Oceanside Owner LLC, to maintain public parking capacity in support of residents, visitors and businesses in the Fishing Village.
20 North Oceanside has expressed to the City their intention to begin construction on this property in the fall of 2026. Within their project they will provide for 150 parking spaces for the general public, above and beyond what is required for their development. Leading up to this time and during the loss of this parking capacity during their construction, staff will continue to seek additional parking, as well as ro...
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