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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 FIRST AMENDMENT TO THE DEVELOPER’S AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND HABITAT FOR HUMANITY OF BROWARD, INC.; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: $641,960.00)
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(Staff Contact: David Recor/Jae Eun Kim)
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Summary Explanation/Background:
The previous Developer’s Agreement (Resolution No. 2017-283, July 28, 2017) was passed and adopted with the RPUD rezoning (Ordinance No. 2017-59, July 25 2017). The Developer requested amending the Developer’s Agreement primarily to address two parcels which have been acquired by the Developer and are to be conveyed to the City, and to reflect the City’s agreement to reimburse the Developer for the utility outlays. With respect to the two parcels, the first parcel will serve as drainage for the development (described in Exhibit “J” of the amended Agreement), and the second parcel will simply be dedicated to the City for any legal purpose (described in Exhibit “K” of the amended Agreement). The City’s reimbursement for the development’s utility outlays will be $641,960, and will be paid to the Developer following completion of the installation and final regulatory certification approval of utilities infrastructure and providing proof of payment. Additionally this amended Agreement contains applicable bonding requirements of the roadway construction in the dedicated rights-of-way.
Origin of request for this action: Habitat for Humanity of Broward, Inc.
Fiscal impact and source of funding: 641,960.00 to come from Fund Balance - Utility Fund
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RStrategic Plan Initiative
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Goal 1 [Preferred Place to Live]
Objective 10. Have quality, affordable housing options for all family generations, including senior housing.