Broward County Commission Regular Meeting
Director's Name: Andrew J. Meyers
Department: County Attorney
Information
Requested Action
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MOTION TO ADOPT Resolution, the title of which is as follows:
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA, APPROVING AN EXTENSION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY, NORTHWEST DISTRICT, THROUGH DECEMBER 31, 2049, ON THE BASIS OF CITY-ONLY TAX INCREMENT FINANCING; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.
(Sponsored by Commissioner Lamar P. Fisher)
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Why Action is Necessary
Formal Board approval is necessary for the adoption of a Resolution.
What Action Accomplishes
Enables the adoption of the Resolution.
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Previous Action Taken
Summary Explanation/Background
Broward County (“County”), the City of Pompano Beach (“City”), the Pompano Beach Community Redevelopment Agency (“CRA”), and the other applicable taxing authorities entered into an Interlocal Agreement Regarding the City of Pompano Beach Community Redevelopment Agency, dated August 14, 2018 (“Interlocal Agreement”). The Interlocal Agreement provided that all tax increment financing (“TIF”) obligations owed to the Northwest District of the CRA (“Northwest District”) by taxing authorities other than the City ended on December 31, 2019. The ILA further provided that over the subsequent six years (i.e., through December 31, 2025), the County, the North Broward Hospital District, and the Children’s Services Council would collectively pay $13.75 million in non-TIF funds to the CRA to be utilized only for specific types of projects, and the County would spend $10 million to eliminate slum and blight in the residential area of the Northwest District.
The Northwest District is currently scheduled to end by December 31, 2040. The City seeks to extend the duration of the Northwest District through December 31, 2049, on a City-only TIF basis. Such extension would not require any additional payment by the County.
To avoid any dispute regarding the ability of the City to extend the CRA for the desired extension, this item would provide formal written County approval of the extension of the Northwest District CRA, solely on a City-only TIF basis, through December 31, 2049.
Source of Additional Information
René D. Harrod, Chief Deputy County Attorney, 954-357-7600
Fiscal Impact
Fiscal Impact/Cost Summary
None.