Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Public Works and Environmental Services
Division: Real Property and Real Estate Development
Information
Requested Action
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MOTION TO ADOPT Resolution, the title of which is as follows: (Commission District 8)
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA, PURSUANT TO SECTION 125.045, FLORIDA STATUTES, APPROVING THE CONVEYANCE OF COUNTY-OWNED LAND TO FRANCES M. MERRICKS, FOR DESIGN, CONSTRUCTION, AND MAINTENANCE OF A MIXED-USE DEVELOPMENT FOR ECONOMIC DEVELOPMENT; AUTHORIZING THE MAYOR TO EXECUTE THE PURCHASE AND SALE AGREEMENT (“PSA”); AUTHORIZING THE COUNTY ADMINISTRATOR TO TAKE ALL BUDGETARY AND ADMINISTRATIVE ACTIONS TO IMPLEMENT THE PSA; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.
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Why Action is Necessary
Adoption of the Resolution by the Board of County Commissioners is required to convey real property pursuant to Section 125.045, Florida Statutes, for economic development, which is a public purpose.
What Action Accomplishes
Disposes of unused real properties and eliminates potential liability and maintenance costs for the County, while facilitating the redevelopment of the Northwest 27 Avenue block face and the construction of no fewer than 39 residential units, including eight units affordable to families at 80% of Area Median Income (AMI) and eight units affordable to families at 120% of AMI, as well as up to 7,000 square feet of new commercial/retail space.
Goal Related Icon(s)
☐County Commission
☐Go Green
☐MAP Broward
Previous Action Taken
None taken.
Summary Explanation/Background
THE PUBLIC WORKS AND ENVIRONMENTAL SERVICES DEPARTMENT AND THE REAL PROPERTY AND REAL ESTATE DEVELOPMENT DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
The County owns two lots in the Broward Municipal Services District (BMSD) fronting the west side of Northwest 27 Avenue. Ms. Francis M. Merricks owns four contiguous properties that are immediately south of and abut the two County-owned lots. Ms. Merricks proposes to construct a mixed-use development across all six lots with no fewer than 39 residential units and between 5,000 and 7,000 square feet of commercial/retail space. Sixteen of the 39 residential units will be affordable (half at 80% of AMI, and half at 120% AMI). The remaining units will be at market rate. The combination of redevelopment in the form of affordable housing and new commercial/retail space collectively meets the statutory definition of public purpose.
The value of the two County-owned parcels will serve as “gap financing” for the project pro forma. The just market value of the two County-owned parcels is $316,020.
The County’s property will be transferred to Ms. Merricks, and both her currently owned parcels and the County’s parcels will be subject to the Declaration of Restrictive Covenants (DRC), Exhibit D to the Purchase and Sale Agreement as included in the attached Resolution Exhibit 1. The DRC includes a reverter clause that will allow the property to revert to the County if Ms. Merricks does not obtain construction financing in accordance with its terms.
All applicable documents have been reviewed and approved as to form by the Office of the County Attorney.
Source of Additional Information
Darby P. Delsalle, Director, Housing and Urban Planning, 954-357-9792.
Ralph Stone, Executive Director, Housing Finance Authority, (954) 357-5320.
Fiscal Impact
Fiscal Impact/Cost Summary
There is no fiscal impact.