Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
title
A. MOTION TO DISCUSS request by Town of Davie to approve extension of the Town of Davie Community Redevelopment Agency (“CRA”) beyond the current expiration date of December 17, 2027, for an additional approximately 12 years through September 30, 2039, with no extension to tax increment financing for taxing authorities other than the Town of Davie but with annual affordable housing contributions of $2,320,000 (approximately 50% of Tax Increment Financing (“TIF”)) made by the County for a seven-year period, for affordable housing only, for a total contribution of $18,560,000.
(Per the Tuesday Agenda Memorandum, withdrawn for further staff review.)
B. MOTION TO AUTHORIZE County Administrator to take all necessary administrative and budgetary action consistent with Board direction provided in Motion A, and to execute the proposed Interlocal Agreement with the Town of Davie and the Town of Davie Community Redevelopment Agency (“CRA”) (Exhibit 1) inclusive of any modifications directed by the Board, subject to review for legal sufficiency by the County Attorney’s Office. (Commission District 5)
(Per the Tuesday Agenda Memorandum, withdrawn for further staff review.)
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Why Action is Necessary
Necessary to permit Board discussion of the proposal and to provide Board direction regarding the terms required for extension of municipal CRAs.
What Action Accomplishes
Permits Board discussion and direction and authorizes the County Administrator to implement the Board’s direction and execute the proposed Interlocal Agreement consistent with that direction.
Goal Related Icon(s)
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Previous Action Taken
None taken.
Summary Explanation/Background
THE RESILIENT ENVIRONMENT DEPARTMENT AND THE HOUSING FINANCE DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board’s Value of “Ensuring residents have an affordable place to live by offering sustainable, compatible, innovative, accessible, affordable housing options for all income levels, including integrated, permanent supportive housing and zoning that helps residents build equity."
The Town of Davie CRA is generally located south of I-595 between State Road 7 and Davie Road as further described in Exhibit 4.
MOTION A. The Town Administrator of Davie submitted an initial request to Broward County dated March 10, 2023 (Exhibit 2), to open dialogue with Broward County regarding an extension of the term of the Town of Davie CRA beyond its current expiration of 2027. Following staff discussions regarding the request, the Town of Davie proposed the following (Exhibit 3):
1) The Town of Davie CRA would cease receiving TIF from Broward County, Children’s Services Council, North and South Broward Hospital District and the Central Broward Water Control District on January 1, 2027;
2) The Town of Davie CRA term would continue through 2039 on a non-TIF basis except as to the Town of Davie (if the Town elects to continue paying TIF); and
3) Broward County would pay the Town the amount of $2,320,000 annually (equal to 50% of the expected Broward County TIF for FY 2027 beginning December 31, 2027 and continuing for seven years (for a total amount of $18,560,000) to be used solely for affordable housing programs.
These terms are included in the draft Interlocal Agreement (Exhibit 1) prepared by the County Attorney’s Office at staff request pursuant to the proposed terms (Exhibit 3). It should be noted that this request preceded the March 7, 2024, Broward County Commission decision to allocate 90% of expiring TIF funds toward support for affordable housing for Fiscal Year 2025 and to revisit the allocation for future years in conjunction with the annual budget process.
Motion A seeks policy direction from the Board regarding the Town’s proposal.
Options
Several options for the Board’s consideration include, but are not limited to, the following:
1. Approve the Town of Davie proposal as presented.
2. Approve the Town of Davie proposal for the extension as to the Town’s tax increment only and deny the request for the County payments for affordable housing.
MOTION B. Based on the Board direction provided by Motion A, Motion B would authorize the County Administrator to approve the proposed Interlocal Agreement as set forth in Exhibit 1, inclusive of any changes directed by the Board and subject review for legal sufficiency by the County Attorney’s Office.
Source of Additional Information
Ralph Stone, Director, Housing Finance Division, (954)-357-5320.
Fiscal Impact
Fiscal Impact/Cost Summary
The proposed Interlocal Agreement would utilize $18,560,000 in County funding from future expiring TIF from the Town of Davie CRA for affordable housing programs.