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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 A PARKING LICENSE AGREEMENT BETWEEN POMPANO CITY PLACE, LLC AND THE CITY OF POMPANO BEACH; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: 50/50 revenue split with Pompano City Place, LLC)
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(Staff Contact: Jeff Lantz)
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Summary Explanation/Background:
This will be a Temporary one (1) year agreement. The primary use for this lot is for public parking as well as overflow parking for the Fishing Village. This lot will continue to be instrumental during future development planned for the Oceanside lot located 1 block to the north on Riverside Drive as well as our Micro-Transit program. On January 16, 2020 the City entered into an agreement for this lot and was approved by City Commission Resolution 2020-98. with Pure Residence Resort Pompano Beach LLC. In March of 2021 this property was sold to Pompano City Place LLC.
The compensation to Pompano City Place LLC will be 50% of gross revenues.
Origin of request for this action: City Manager’s Office
Fiscal impact and source of funding: 50/50 revenue split with Pompano City Place, LLC
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