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 Joinder to Access and Utility Easement in favor of the City of Dania Beach, Florida subordinating Broward County's Mortgage given by City Place Apartments, Ltd. ("Joinder"); to authorize the County Administrator to execute the Joinder with any required modifications, provided such modifications do not impose any additional, material financial risk on the County; and to authorize the County Administrator to execute future joinders and subordinations, all subject to review and approval as to legal sufficiency by the Office of the County Attorney. (Commission District 6)
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Why Action is Necessary
Board action is required to allow subordination of the Broward County Mortgage.
What Action Accomplishes
Authorizes the County Administrator to subordinate Broward County's Mortgage, which is necessary to grant the City of Dania Beach ("City") an access and utility easement for a potable water distribution line servicing the City Place Apartments affordable housing development and may be necessary in the future in the routine operation of the subject property.
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."
On October 11, 2022, Agenda Item No. 24, the Board of County Commissioners ("BOCC") approved gap financing in the amount of $3,000,000 to City Place Apartment...
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