Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Establishing The Hollywood Beach Public Benefit And Resilience Trust Fund; Establishing The Purpose, Administration, Accounting, Revenue Sources, Eligible And Ineligible Expenditures, Project Identification, Prioritization, Allocation, Appropriation, Reporting And Oversight Of The Fund; Establishing Contribution Rates Associated With Optional Bonus Entitlements Within The Hollywood Beach Overlay District; Amending The Comprehensive Schedule Of Fees; Authorizing Administrative Procedures; And Providing For An Effective Date. (26-T-70b)
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
The proposed Resolution formally establishes the Hollywood Beach Public Benefit and Resilience Trust Fund (“Fund”) as the administrative and financial mechanism for receiving and expending public benefit contributions associated with certain Optional Bonus Entitlements available through Section 4.26, the Hollywood Beach Overlay District (PO-2026-026a).
The Resolution establishes the purpose of the Fund; City Manager and departmental administrative responsibilities; accounting and financial controls; contribution calculation and payment procedures; eligible and ineligible expenditures; project identification and evaluation procedures; project prioritization considerations; allocation and appropriation through the City’s established budget and Capital Improvement Program processes; annual reporting; and related administrative procedures.
Fund revenues are intended to support infrastructure and public improvements that provide a direct and identifiable benefit to Hollywood Beach and assist the City in responsibly accommodating planned growth and redevelopment. Eligible investments may include stormwater and drainage improvements, utility infrastructure, flood mitigation and coastal resilience improvements, roadway and streetscape improvem...
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