Broward County Commission Regular Meeting
Director's Name: Trevor M. A. Fisher
Department: Public Works Division: Real Property and Real Estate Development
Information
Requested Action
title
MOTION TO APPROVE Term Sheet ("Term Sheet") attached hereto as Exhibit 1 among Broward County ("County"), the City of Pompano Beach ("City"), and the Pompano Beach Community Redevelopment Agency ("CRA") providing the conceptual terms of an agreement to convey County property to the City of Pompano, in exchange of City property, and to authorize the County Administrator to negotiate and bring back to the Board for consideration and approval agreement documents that are consistent with Term Sheet, subject to approval as to legal sufficiency by the County Attorney's Office.
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Why Action is Necessary
Broward County Board of County Commissioners ("Board") action is required to approve the Term Sheet.
What Action Accomplishes
Approves the Term Sheet and conceptually approves key terms for a Property Exchange Agreement between County and the City of Pompano Beach.
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?County Commission
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Previous Action Taken
None.
Summary Explanation/Background
THE PUBLIC WORKS DEPARTMENT/ REAL PROPERTY AND REAL ESTATE DEVELOPMENT DIVISION RECOMMENDS APPROVAL OF THE ABOVE MOTION.
The City of Pompano Beach is proposing to acquire an approximate 1.4-acre County retention/detention area currently providing the required water quality and drainage capacity needed for the County's Northeast Transit Center and redevelop it as a part of the City's future Downtown.
The County will convey the drainage parcel immediately adjacent to the Northeast Transit Center "AS-IS" to City. In exchange, City will convey the Annie L. Weaver Center Building, which the County currently leases from the City, and land to County "AS-IS". The Term Sheet includes assurances to meet the County's current and future drainage and transit needs.
The proposed Term ...
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