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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE AN AGREEMENT AMONG THE CITY OF POMPANO BEACH, POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY AND POMPANO PIER ASSOCIATES, LLC REGARDING THE PIER PLAZA AND ARCH ENHANCEMENT PROJECT; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
staffcontact
(Staff Contact: Nguyen Tran)
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Summary Explanation/Background:
On January 28, 2013, the City of Pompano Beach entered into a Development Agreement with Pompano Pier Associates, LLC for the development of a City owned surface parking lot into what is now known as the Pompano Beach Fishing Village (aka Pier Development). As part of the approved master plan, an important element of this development involved the construction of a Plaza and Arch at the eastern terminus of what is now Pier Street. The idea was to create an iconic landmark for the City that would become immediately recognizable in Pompano Beach and beyond. The Pier Plaza and Arch is intended to leave a lasting visually dramatic impression of Pompano's redeveloped beachfront in the minds of both residents from every corner of the City and visitors from outside Pompano Beach. The Developer has set aside approximately $250,000 for the construction of the Arch and provided budget and a project narrative for the increased cost for the Pier Plaza and Arch enhancements. The additional enhancements amount to an additional $400,000 requested from the CRA and the enhancements are consistent with the East CRA Plan objectives relating to the redevelopment of the Pompano beachfront. The Interlocal Agreement is between the City of Pompano Beach, the Pompano Beach Community Redevelopment Agency and joined by the Developer for this Enhancement project. The CRA will contribute up to but not to exceed $400,000 towards the Pier Plaza and Arch and the Developer will be joining this Interlocal Agreement for the purpose of establi...
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