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Presentation By Raelin Storey, Director Of Communications, Marketing & Economic Development, Regarding The Redevelopment Proposals For The City-Owned Property Located At 1301 South Ocean Drive, Inclusive Of Hollywood Beach Culture And Community Center Site, Received Under Florida State Statute 255.065 Governing Public-Private Partnerships.
Strategic Plan Focus
Economic Vitality
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Staff Recommends: For Informational Purposes
Explanation:
An unsolicited offer for the City-owned parcels located at 1301 South Ocean Drive in Hollywood was received by the City under the provisions of the State of Florida's Public-Private Partnerships (P3) statute, F.S.S. 255.065. According to the statute, the City of Hollywood determined the proposal to be qualified and published the required notice of the receipt of an unsolicited proposal and the City's willingness to accept competing proposals for a public-private partnership for the redevelopment of the site. The City's real estate transaction advisor, CBRE, ensured that the opportunity was broadly marketed to achieve the most beneficial for the City and its taxpayers. The opportunity to submit proposals was noticed on June 23, 2020 with all submissions due by September 28, 2020.
The City of Hollywood's Department of Financial Services Procurement Division established a selection committee comprised of City and CRA staff with expertise in real estate, economic development, architecture, engineering, municipal finance and budgeting, as well as recreational facilities to review the proposals. On December 2nd and 3rd, 2020 eight firms presented their proposals to the selection committee. After scoring and deliberations, the City's selection committee short-listed the four firms listed below in no specific order:
* The Related Group
* Key International/13th Floor Investments
* Continuum Company
* Chateau Group
The City through its Procurement Division working with CBRE has provided each of these four fi...
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