Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending Resolution R-2016-179 To Further Amend The Amended And Restated Redevelopment Plan For The Downtown District Of The Hollywood Community Redevelopment Agency (Central City Study Area) In Accordance With Sections 163.346 And 163.361, Florida Statutes, In Order To Incorporate The Requirements Of The Interlocal Agreement Among Broward County, The City Of Hollywood And The City Of Hollywood Community Redevelopment Agency Regarding Funding For Affordable Housing Related To The Term, Funding And Affordable Housing; Providing For A Severability Clause And A Repealer Provision.
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
In 2018, the City and Community Redevelopment Agency (CRA) entered into an Interlocal Agreement (ILA) with Broward County in an effort to seek support for affordable housing and economic development initiatives within the City at-large, inclusive of the CRA districts. Under the ILA, a portion of the County's Tax Increment Financing (TIF), which would otherwise be provided to the CRA Beach District, would now be made available for housing rehabilitation, affordable housing initiatives, work skill programs, and infrastructure projects in low-to-moderate income areas of the City. While there are several requirements in the ILA, one of the main tasks identified was for the City to establish certain Administrative Policies to preserve housing affordability and enhance the quality of existing housing stock in order to appropriately distribute funding.
Florida Statute Chapter 163, Part III governs and regulates CRAs throughout the State of Florida. It requires that each CRA adopt a plan that guides redevelopment activity within the district. When amending the plan, the municipality's Local Planning Agency (LPA) must recommend approval of the plan amendment to the governing body, the City Commission. Hollywood's Downtown Community Redevelopme...
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