Title
RESOLUTION NO. 19R-04-67: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LAUDERHILL APPROVING THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF LAUDERHILL AND LE PARC AT LAUDERHILL, LLC REGARDING THE DEVELOPMENT OF A ± 9.93 ACRE SITE TO INCLUDE 182 GARDEN APARTMENTS, 215 MID-RISE APARTMENTS AND A 3,500 SQUARE FEET DAY CARE FACILITY; PROVIDING TERMS AND CONDITIONS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CITY MANAGER, CHARLES FARANDA).
Body
Request Action:
A RESOLUTION IS REQUESTED TO APPROVE THE DEVELOPMENT AGREEMENT BETWEEN LE PARC AT LAUDERHILL, LLC AND THE CITY OF LAUDERHILL
Need:
TO APPROVE TERMS AND CONDITIONS FOR DEVELOPMENT OF THE LE PARC SITE.
Summary Explanation/ Background:
APPROVAL OF THE ATTACHED AGREEMENT WILL PROVIDE FOR THE DEVELOPMENT OF QUALITY WORKFORCE HOUSING THAT IS BOTH ATTRACTIVE AND AFFORDABLE. SPECIFICALLY, LE PARC AT LAUDERHILL, LLC WILL DESIGN AND CONSTRUCT 182 GARDEN APARTMENTS, 215 MID-RISE APARTMENTS AND A 3,500 SQ FT DAY CARE FACILITY ON A 9.93 ACRE SITE, LOCATED WITHIN THE COMMUNITY REDEVELOPMENT AGENCY'S COMMERCIAL ENTERTAINMENT AND ARTS DISTRICT. THIS UCPOMING DEVELOPMENT WILL ASSIST THE CITY IN ATTRACTING WORKING PROFESSIONALS AND MILENNIALS THAT WISH TO RELOCATE TO LAUDERHILL.
Attachments:
(1) LE PARC DEVELOPERS AGREEMENT
Cost Summary/ Fiscal Impact:
INCENTIVES APPROVED VIA RESOLUTION 19R-02-29
Estimated Time for Presentation:
NONE
Master Plan:
Goal 1: Clean, Green Sustainable Environment
[ ] Increase mass transit ridership [ ] Reduce City energy consumption
[ ] Reduce water consumption
Goal 2: Safe and Secure City of Lauderhill
[ ] Crime in lower 50% in Broward [ ] Residents feel safe in neighborhood
[ ] Reduce emergency fatalities
Goal 3: Open Spaces and Active Lifestyle for all ages
[ ] Increase participation in youth sports [ ] Add new park land and amenities
[ ] Increase attendance at cultural programs and classes
Goal 4: Growing Local Economy, Employment and Quality of Commercial Ar...
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