Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute A Cost Participation Agreement With The Diplomat Landings Phase 1 Owner, LLC And The Diplomat Landings Phase 2 Owner, LLC In The Amount Of $500,000.00 For The Phase 1 Project And An Additional $500,000.00 For Phase 2 Project Relating To Needed Lift Station Improvements To Serve The Phase 1 And Phase 2 Projects.
Strategic Plan Focus
Infrastructure & Facilities
Body
Staff Recommends: Approval of Attached Resolution
Explanation:
The City Commission has approved the Diplomat Activity Center which includes the development of the Diplomat Landings Phase I and Phase II projects.
The Department of Public Utilities ("DPU") has determined that upgrades to the E-03 lift station ("Utilities Improvements") are needed to accommodate additional planned development that uses this lift station including the Diplomat Landings Phase 1 Project which consists of approximately 350 residential units and the Diplomat Landing Phase 2 Project which is a planned hotel along the Intracoastal.
The Diplomat Landings Phase I owner is in the process of securing all needed permits and approvals for construction pursuant to the site plan previously approved by the City Commission and is planning to break ground on this project in the upcoming month.
The Director of Public Utilities, Public Safety Director and Assistant City Manager overseeing Development Services have negotiated with the Diplomat Landings Development Team for the Phase I and Phase II projects to participate in the cost of the E-03 lift station improvements.
The Cost Participation Agreement, attached as Exhibit "A" provides for a $500,000.00 contribution by the Phase 1 Developer and an additional $500,000.00 contribution by the Phase 2 Developer to be paid by the Phase I Developer and the Phase 2 Developer at the same time as the payment of building permit fees and the issuance of build...
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