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 Redevelopment Plan was originally adopted in 1981 and last updated in 2016.
On March 14, 2019, the City’s Planning and Development Board (PDB), acting as the LPA, reviewed the proposed amendment to the Amended and Restated Community Redevelopment Plan (Plan) and have forwarded a recommendation of approval. Per the ILA, Section 2.2.1., the ILA must be incorporated into the Plan. Section 2.2.1. also provides for the City to extend the life of the CRA Downtown District past the current sunset date of September 30, 2025. The ILA allows for the continuation of the Downtown District for a period of up to sixteen (16) years from October 1, 2025, through and including September 30, 2041, or such earlier termination date as approved by the City of Hollywood. No TIF obligations will be required by any of the taxing authorities past December 31, 2024. In lieu of a TIF, the County, per the ILA, agrees to make five annual payments to the CRA Downtown District starting on December 31, 2025 through December 31, 2029 for $3 million per year for CRA-related purposes within the boundaries.
Although the ILA is NOT before the Commission today, it can be reviewed in totality (attached). This item amends the Plan to incorporate the adopted ILA as an exhibit and provides for the extension of the CRA Downtown District.
Recommended for inclusion on the agenda by:
Andria Wingett, Assistant Director, Development Services
Shiv Newaldass, Director, Development Services
Jorge A. Camejo, Executive Director, CRA
Gus Zambrano, Assistant City Manager for Sustainable Development