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A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND CONSENTING TO A PARTIAL RELEASE OF DECLARATION OF COVENANTS AND RESTRICTIONS EXECUTED BY PPI, INC., FOR THE PROPERTY LOCATED AT 1800 SW 3RD STREET; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)
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(Staff Contact: David Recor/Jean E. Dolan)
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Summary Explanation/Background:
On June 4, 2005, the City Commission approved Resolution 2005-253 which adopted an Agreement running with the property now commonly known as the LIVE! Resorts Pompano Regional Activity Center at 1800 SW 3rd Street, Pompano Beach, FL 33069. That agreement addresses the operation of slot machines at the Casino Facility and the funding for the public facilities and services expected to be impacted by that use. That Agreement became part of a Declaration of Restrictive Covenants which was inadvertently recorded in the public records twice, once in OR Book 40077, Page 1098 and again in OR Book 45585, Page 1197. It is the Applicant's request to change the area of the property subject to this Declaration of Restrictive Covenants to address the fact that the plan for the LIVE! Resorts Pompano property is a mixed use district anchored by residential and office uses and less of the property will be used for the Casino Facility. The attached document entitled Release of Declaration of Restrictive Covenants, is provided for your review. This release changes the area of the subject property defined as the Casino Facility and subject to the recorded declaration (which was recorded twice). No changes in revenues from the Casino Facility required to be paid to the City will occur as a result of this partial release of property from this declaration.
Origin of request for this action: PPI, Inc.
Fiscal impact and source of funding: N/A
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