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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A PROPERTY DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE CRA AND FRAZIER ELITE HOMES, LLC. RELATING TO ONE (1) VACANT CRA OWNED PARCEL OF LAND LOCATED AT 1910 NW 7TH STREET TO BE DEVELOPED AND UTILIZED FOR AFFORDABLE HOUSING; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $50,000 Revenue from sale of property)
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(Staff Contact: Cassandra LeMasurier)
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Summary Explanation/Background:
CRA staff received an unsolicited proposal from Frazier Elite Homes, LLC for the construction of a single-family home, for an income restricted buyer on the CRA’s 7,350 sq. ft. vacant lot located at 1910 NW 7th Street (folio 484234080470) on September 9, 2025. The property is deed restricted as affordable housing. The CRA Board accepted the unsolicited proposal and authorized staff to negotiate a Property Disposition and Development Agreement on December 16, 2025.
The Agreement requires Frazier Elite Homes, LLC construct a 2,290 sq. ft. 3-bedroom, 2-bath home with a two-car garage for their pre-qualified buyer and purchase the CRA’s lot for $50,000. The Declaration of Covenants and Restrictions maintains permanent affordability for buyers who earn 120% or less of the Area Median Income (AMI) for Broward County.
Origin of request for this action: Staff
Fiscal impact and source of funding: $50,000 Revenue from sale of property
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