Title
CRA ORDINANCE NO. CRA-25O-09-102: AN ORDINANCE OF THE CITY OF LAUDERHILL COMMUNITY REDEVELOPMENT AGENCY (“CRA”) APPROVING THE THIRD AMENDMENT TO THE REAL ESTATE DEVELOPMENT AGREEMENT AND ADDENDUM BETWEEN THE CITY OF LAUDERHILL AND LE PARC AT LAUDERHILL, LLC, IN SUBSTANTIALLY THE SAME FORM AS EXHIBIT “A”; AND PROVIDING FOR CONFLICTS AND SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY CRA EXECUTIVE DIRECTOR SEAN ANDERSON).
Body
Request Action:
To approve the third amendment to the real estate development agreement between THE CITY OF LAUDERHILL AND LE PARC AT LAUDERHILL LLC
Need Summary Explanation/ Background:
. That the Third Amendment to the Real Estate Development Agreement and Addendum between the City of Lauderhill (“City”) and Le Parc at Lauderhill, LLC (“Developer”) is hereby approved in substantially the same form as Exhibit “A” to eliminate the requirement of the consent of the City Commission to transfer ownership of the development project; to revise the “claw back” provision to provide for penalties for failing to commence construction of the Development Project on the Development Start Date, and to approve a parking easement agreement.
Cost Summary/ Fiscal Impact:
Include projected cost, approved budget amount and account number, source of funds, and any future funding requirements
Attachments:
Number all attachments consecutively.
Budget Code Number(s): __________________________________
Procurement Information: [check all that apply]
[ ] RFP/Bid [ ] Emergency Purchase [ ] SBE
[ ] Proposal/Quote [ ] State Grant Funds [ ] Local Preference
[ ] Piggyback Contract [ ] Federal Grant Funds
[ ] Sole Source ...
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