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P.H. 2024-25: (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 A FIRST AMENDMENT TO THE GROUND LEASE AGREEMENT BETWEEN THE CITY OF POMPANO BEACH AND 20 NORTH OCEANSIDE OWNERS, LLC; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: Net Revenue to City $750,000 annually)
FIRST READING: MARCH 12, 2024
staffcontact
(Staff Contact: Jeff Lantz)
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Summary Explanation/Background:
The City entered into a Land Lease Agreement with JJ Land Realty in February 2020 approved by City ordinance 2020-31.
Subsequently JJ Land assigned the agreement to CF Land Realty and RW Oceanside Land LLC who assigned the agreement to 20 North Oceanside Owner LLC on June 1, 2023. Both assignments of the original agreement were approved by Resolution 2023-169.
The Primary use of this property is public parking and the property will continue to be instrumental during the continuing development on the barrier island in the Pompano Pier area. The lessor is requesting an amendment to reduce the leased area to accommodate a sales trailer for planned development on the site. The area being removed has traditionally been utilized for construction staging for nearby construction on the barrier island, inclusive of private (i.e. Fishing Village) and City projects. As such, we do not anticipate this change impacting parking supply significantly. This property has approximately 180 paved parking spaces and 130 parking spaces on an adjoining grass lot for a total approximately 310 parking spaces. City staff will continue to work with the private sector to accommodate additional general public parking within developments, as well as continue to pursue parking leases on available parcels. This strategy will be partnered with the City's ongoing objective to expand micro transit options, reducing the burden on public parking.
This property genera...
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