Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Resilient Environment Division: Housing Finance Division
Information
Requested Action
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MOTION TO APPROVE Interlocal Agreement (Exhibit 1) with the Town of Davie and Town of Davie Community Redevelopment Agency (CRA) to approve extension of the Town of Davie 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 contributions by the County of $2,320,000 (estimated 50% of County's projected 2027 Tax Increment Financing ("TIF")) for eight years commencing December 1, 2027, to be used only for affordable housing, for a total contribution of $18,560,000. (Commission District 5)
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Why Action is Necessary
Necessary to approve the extension of municipal CRAs; and to approve the proposed Interlocal Agreement.
What Action Accomplishes
Authorizes the County Administrator to implement the Board's direction and approves the proposed Interlocal Agreement consistent with that direction.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
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 the CRA map in Exhibit 4.
The Town Administrator of Davie submitted an initial request to Broward County, dated March 10, 2023 (Exhibit 2...
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