File #: 18-02    Version: Name:
Type: Ordinance / Regular Agenda Status: Passed
File created: 9/29/2017 In control: City Commission
On agenda: 10/24/2017 Final action: 10/24/2017
Title: P.H. 2018-01: (PUBLIC HEARING 2ND READING) AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE: (i) A THIRD AMENDMENT TO AMENDED AND RESTATED DEVELOPMENT AGREEMENT RELATING TO CITY PROPERTY LYING BETWEEN NORTH OCEAN BOULEVARD (A1A) AND THE ATLANTIC OCEAN AND BETWEEN ATLANTIC BOULEVARD (S.R. 814) AND NE 5TH STREET, BETWEEN THE CITY OF POMPANO BEACH AND POMPANO PIER ASSOCIATES, LLC; (ii) A SECOND AMENDMENT TO PARCEL E GROUND LEASE RELATING TO CITY PROPERTY LYING BETWEEN NORTH OCEAN BOULEVARD (A1A) AND THE ATLANTIC OCEAN AND BETWEEN ATLANTIC BOULEVARD (S.R. 814) AND NE 5TH STREET, BETWEEN THE CITY OF POMPANO BEACH AND PPA-E, LLC; (iii) A FIRST AMENDMENT TO PHASE R4 SPACE LEASE RELATING TO CITY PROPERTY LYING BETWEEN NORTH OCEAN BOULEVARD (A1A) AND THE ATLANTIC OCEAN AND BETWEEN ATLANTIC BOULEVARD (S.R. 814) AND NE 5TH STREET, BETWEEN THE CITY OF POMPANO BEACH AND PPA-R4, LLC; PROVIDING FOR SEVERABIL...
Attachments: 1. CC Memo-Pier Dev-Third Amendment & PGL Second Amendment E and Phase R4 Space Lease, 2. AAA Rating Definitions, 3. Ordinance re 3d Amend to Dev Agmt 2d Amend to R4, E_v3 clean (8-24-17) FINAL, 4. Third Amendment to Pier Development Agreement, 5. Parcel E Second Amendment, 6. Phase R4 First Amendment
title
P.H. 2018-01: (PUBLIC HEARING 2ND READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE: (i) A THIRD AMENDMENT TO AMENDED AND RESTATED DEVELOPMENT AGREEMENT RELATING TO CITY PROPERTY LYING BETWEEN NORTH OCEAN BOULEVARD (A1A) AND THE ATLANTIC OCEAN AND BETWEEN ATLANTIC BOULEVARD (S.R. 814) AND NE 5TH STREET, BETWEEN THE CITY OF POMPANO BEACH AND POMPANO PIER ASSOCIATES, LLC; (ii) A SECOND AMENDMENT TO PARCEL E GROUND LEASE RELATING TO CITY PROPERTY LYING BETWEEN NORTH OCEAN BOULEVARD (A1A) AND THE ATLANTIC OCEAN AND BETWEEN ATLANTIC BOULEVARD (S.R. 814) AND NE 5TH STREET, BETWEEN THE CITY OF POMPANO BEACH AND PPA-E, LLC; (iii) A FIRST AMENDMENT TO PHASE R4 SPACE LEASE RELATING TO CITY PROPERTY LYING BETWEEN NORTH OCEAN BOULEVARD (A1A) AND THE ATLANTIC OCEAN AND BETWEEN ATLANTIC BOULEVARD (S.R. 814) AND NE 5TH STREET, BETWEEN THE CITY OF POMPANO BEACH AND PPA-R4, LLC; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: N/A)

FIRST READING: OCTOBER 10, 2017
staffcontact
(Staff Contact: Greg Harrison/Adriane Esteban)

summary
Summary Explanation/Background:
In July 2014, the Amended and Restated Development Agreement with Pompano Pier Associates, LLC relating to city property known as the Pier Development Site was approved by the City Commission to provide a mixed-use development consisting of restaurants and beach-oriented retail. Since that time, the Pier Parking Garage was constructed on the site and the developer has attained many credit tenants as well as started construction on the first new restaurant. Now that the new Pier Structure is also under construction and the developer has a better idea about timing for various aspects of the development, a Third Amendment is being presented. This Third Amendment addresses extension of development timeline dates for Parcel E and Phase R4, as well as provides clarifications for Parcel E, R5...

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