Title
A Resolution Of The Hollywood, Florida Community Redevelopment Agency ("CRA"), Approving And Authorizing The Appropriate CRA Officials To Execute An Interlocal Agreement With The City Of Hollywood For Reimbursement To The CRA In An Amount Up To $12,200,491.00 For Work Associated With The CRA’s Coastal Roadway Resiliency Phase IV From Harrison Street To Magnolia Terrace And From State Road A1A To The Broadwalk.
Strategic Plan Focus
Infrastructure & Facilities
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The Community Redevelopment Agency finds the need to improve the flooding conditions on the barrier island. The Florida Department of Environmental Protection (“FDEP”) has adopted the Resilient Florida Grant Program and the City on behalf of the CRA, applied for this grant in a total aggregate amount not to exceed $28,000,000.00.
On July 19, 2023, FDEP awarded the City the Coastal Roadway Resiliency Project in the amount of $12,200,491.00 with a 50% match and on December 1, 2023, the FDEP Standard Grant Agreement was executed by the State and the City.
On July 3, 2024 both the CRA and the City Commission passed and adopted Resolutions R-CRA-2024-29 and R-2024-230 respectively, ratifying the submission of an application to the State Of Florida Department Of Environmental Protection Resilient Florida Grant Program for the Hollywood Coastal Road Resiliency Project Implementing Resiliency And Flood Management Improvements for Coastal Economic Vitality, Infrastructure Hardening and Safety Implementation for the CRA Phase IV E/W Streetscape From Harrison Street To Magnolia Terrace Between State Road A1A And Broadwalk, in an amount up to $28,000,000.00 with the Required 50% In Matching Funds Contribution From The Hollywood, Florida Community Redevelopment Agency; Authorizing the appropriate City Officials to execute all applicable program documents and agreements.
The CRA Executive Director and the City’s Director of Financial Services recommend that the CRA Board authorize the appropriate CRA officials to execute an Interlocal Agreement with the City for repayment of the State grant reimbursement to the City for the construction cost paid by the CRA to implement the scope associated with the CRA Phase IV East-West Streetscape project from Harrison Street to Magnolia Terrace between State Road A1A and the Broadwalk in an amount up to $12,200,491.00.
Fiscal Impact:
Funding for this project is included in FY2024 Capital Improvement Plan in account number 163.639901.55200.563010.001884.000.000 (Coastal Resiliency Grant) and account number 163.639.55200.560003.001884.000.000 (Coastal Resiliency Grant - Match) in total amount of $24,400,982.00. Per the terms of the grant, the CRA will be reimbursed $12,200,491.00 for this expenditure.
Recommended for inclusion on the agenda by:
Jorge Camejo, Executive Director