Title
Presentation By Lisa Liotta, Development Officer, Office Of Communications, Marketing & Economic Development; Michael McShea, Executive Vice President; Lee Ann Korst, SE Regional Manager; And Clarissa Willis, Vice President, Advisory And Transaction Services, of CBRE, Inc.; Regarding City Property Assessment And Redevelopment Potential.
Strategic Plan Focus
Economic Vitality
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Staff Recommends: Presentation.
Explanation:
The City has certain real property along key commercial corridors including Federal Highway and Hollywood Boulevard that may provide unique opportunities to expand the City’s property tax base through redevelopment-allowing for new public facilities while helping to generate recurring revenue in support of essential public services such as public safety, parks, infrastructure maintenance, and community programming.
The City has contracted with CBRE, Inc. to provide real estate advisory services. The Office of Communications, Marketing and Economic Development (CMED) is responsible for corridor redevelopment and continuing to enhance the City’s economic vitality. CMED provides information and works to stay aware of redevelopment opportunities throughout the City and frequently receives inquiries from interested firms.
CBRE, working in collaboration with CMED, has analyzed key City-owned properties regarding the current condition and possible redevelopment options for the Commission’s consideration.
Fiscal Impact:
No fiscal impact is associated with this agenda item.
Recommended for inclusion on the agenda by:
Lisa Liotta, Development Officer, Communications, Marketing and Economic Development
Joann Hussey, Director, Communications, Marketing, and Economic Development
Raelin Storey, Assistant City Manager