Title
A Resolution Of The Hollywood, Florida, Community Redevelopment Agency (“CRA”), Authorizing The Appropriate CRA Officials To Execute A Funding Agreement With Pride Hollywood Beach, LLC, For Reimbursement Of $903,922.38 Associated With The Construction Cost Of The New Surf Road And Utilities Relocation; Further Authorizing The CRA Executive Director To Execute All Applicable Agreements And Documents To Implement The Project; Amending The Annual Budget For The Beach District For The CRA For Fiscal Year 2026.
Strategic Plan Focus
Infrastructure & Facilities
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
Pride Hollywood Beach, LLC, (the “Developer”) owns the property located at 1900 S. Surf Road, Hollywood, Florida, which is within the Beach District of the CRA, and is in the process of developing a residential project that requires, pursuant to a Settlement Agreement between the Developer and the City, the relocation and vacation of Surf Road.
The CRA is currently building the Phase IV undergrounding of overhead utilities and streetscape beautification of the East/West (“E/W”) streets from Harrison Street to Magnolia Terrace between the Broadwalk and State Road A1A. Since the Development is located within the boundaries of the Phase IV Project, the Developer reached out to the CRA requesting a partnership to have the CRA through its contractor, build the new Surf Road right-of-way and relocate the utilities.
Burkhardt Construction, Inc., the CRA’s general contractor for the Phase IV project, provided a Guaranteed Maximum Price (“GMP”) of $903,922.38, based upon the drawings submitted to the Building Department.
The Developer has agreed to enter into a Funding Agreement for reimbursement of the construction cost of the new Surf Road and the relocation of its existing utilities, except for TECO and AT&T. Both TECO and AT&T will be responsible for relocating their respective facilities.
This will require a fourth Amendment ...
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