Title
RESOLUTION NO. CRA-25R-08-09: A RESOLUTION OF THE CITY OF LAUDERHILL COMMUNITY REDEVELOPMENT AGENCY (“CRA”) AMENDING RESOLUTION NO. CRA-25-07-07 TO FURTHER AUTHORIZE THE CRA DIRECTOR TO NEGOTIATE A CONTRACT FOR SALE AND PURCHASE FOR THE PROPERTY LOCATED AT 1883 NW 38TH AVENUE IN LAUDERHILL, FLORIDA, FOR A PURCHASE PRICE NOT TO EXCEED FOUR MILLION SEVEN HUNDRED THOUSAND DOLLARS ($4,700,000.00); AUTHORIZING THE CRA DIRECTOR TO TAKE ALL NECESSARY ACTION TO EFFECTUATE THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY SEAN HENDERSON, CRA DIRECTOR).
Body
Request Action:
Seeking approval of the amended purchase price and terms for 1883 NW 38th Avenue.
Need:
See Below.
Summary Explanation/ Background:
In 2022 the City issued a $15 million Capital Improvement Revenue Bond, earmarked for property acquisitions and improvements. The funds are allocated to purchase strategic properties that support downtown revitalization, municipal facilities, and redevelopment corridors. This acquisition is part of a broader municipal investment strategy to enhance community access, facility placement, and redevelopment capacity. The use of the 2022 bond funds to acquire 1883 NW 38th Avenue aligns with the State Road 7 CRA's core priorities - improving circulation, enhancing corridor identity, supporting strategic/smart redevelopment, and enabling civic investment. This acquisition not only fulfills the bond's capital objectives but also empowers the City to steer the character and momentum of the SR-7 corridor in accordance with CRA goals.
Attachments:
1. Amended Contract for Sale and Purchase - 1883 NW 38th Avenue
2. Ordinance
Cost Summary/ Fiscal Impact:
$4,700,000
Estimated Time for Presentation:
N/A
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 [ ] Reside...
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