Title
Presentation By Sonny Maken, Development Officer, To Provide An Update On The Completed Term Sheet and Ongoing Negotiations For A Comprehensive Agreement Between The Related Group And The City Of Hollywood For The Redevelopment of Hollywood Beach Culture And Community Center Site.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: For Presentation and Discussion Purposes.
Explanation:
The City of Hollywood, Florida received an unsolicited proposal submitted under the provisions of Section 255.065, Florida Statutes, Public-Private Partnerships, for the Hollywood Beach Community Center to finance, develop, construct and manage a mixed-use project on approximately 4.6 acres of City-owned real estate on Hollywood Beach (“Site”) including a 20,000 Square Feet Community Center, public parking, and other private and public amenities. The Site is city owned and located on the Barrier Island along a significant north/south passage known as Ocean Drive, between Azalea and Bougainvillea Terraces and along Surf Road. The Site currently houses the City of Hollywood’s Beach Community Center, public parking lots, and the Hollywood Beach Bernice P. Oster public library branch. The Site is also located within the Beach District of the City’s Community Redevelopment Agency.
The Related Group was the top ranked firm and City Staff was directed to negotiate a Comprehensive Agreement for the site. As part of these negotiations, a non-binding term sheet was completed between the City and the Related Group. It was mutually decided that an update to the City Commission and general public would be beneficial.
Fiscal Impact:
This presentation has no fiscal impact on the City.
Recommended for inclusion on the agenda by:
Sonny Maken, Development Officer
Shiv Newaldass, Director, Development Services
Gus Zambrano, Assistant City Manager/Sustainable Development