Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Approving And Authorizing The Appropriate City Officials To Execute An Amended And Restated Land Development And Disposition Agreement With Park Road Development, LLC, For The Remediation, Sale, And Redevelopment Of Approximately 22 Acres Of City-Owned Property Generally Located At 1600 South Park Road.
Strategic Plan Focus
Economic Vitality
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
In 2018 the City Commission requested that staff pursue redevelopment opportunities for the approximately 30.58 acres of City-owned real property designated as a "brownfield area" under Florida Statutes Sections 376.77 - 376.85 which is generally located at 1600 South Park Road and currently houses the City's Public Works compound ("Subject Site"). The purpose of the brownfield designation was to position the site for remediation, rehabilitation and economic development.
RFP No 4585-18-PB, Park Road Development Opportunity, was issued in 2018 and Park Road Development, LLC ("Park Road") was selected in February of 2019 as the top-ranked firm to remediate and redevelop the Subject Site. On May 20, 2020 in accordance with City Charter Section 13.01, Limitation on the Sale of City-owned Property, the City Commission approved R-2020-113 and subsequently entered into a Land Development and Disposition Agreement (the "Initial Agreement") with Park Road which provided the terms and conditions pursuant to which Park Road would purchase, remediate, and redevelop approximately 22 acres of the Subject Site (the "Development Parcel").
Following the execution of the Initial Agreement, Park Road has conducted substantial environmental testing, inspections and assessments of the Subject Site required under Florida Brownfield Redevelopment Act for the remediation and redevelopment of the Development Parcel. Additionally, City staff and City consultants have worked with Park Road a...
Click here for full text