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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA) APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A REINSTATEMENT AND FOURTH 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, REINSTATE THE AGREEMENT, TO EXTEND THE CONSTRUCTION COMPLETION DATE TO JUNE 30, 2027, AND AMEND THE DECLARATION OF COVENANTS AND RESTRICTIONS; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: Nguyen Tran)
summary
Summary Explanation/Background:
CRA Staff received a request from the Developer to reinstate the Development Agreement and amend the agreement to allow completion of construction by no later than June 30, 2027, and amend the Declaration of Covenants and Restrictions to include a Developer Rent-to-Own Program, revise the Homeowners’ Association enforcement structure, add a Twenty-Five Thousand Dollar ($25,000.00) Developer Contribution and reduce the Restrictive Period from five years to two years. The construction for the project is 90% complete at this time.
Origin of request for this action: Solstice Townhomes, LLC
Fiscal impact and source of funding: N/A
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