COMMUNITY REDEVELOPMENT AGENCY BOARD

City of Fort Lauderdale COMMUNITY REDEVELOPMENT AGENCY BOARD Agenda City Hall - City Commission Chambers Tuesday, November 16, 2021 - 2:30 PM OR AS SOON THEREAFTER AS POSSIBLE 100 North Andrews Avenue, Fort Lauderdale, FL 33301 https://fortlauderdale.legistar.com/Calendar.aspx www.fortlauderdale.gov/fltv www.youtube.com/cityoffortlauderdale Cable Television - Comcast Channel 78 and AT&T U-verse Channel 99 FORT LAUDERDALE COMMUNITY REDEVELOPMENT AGENCY BOARD OF COMMISSIONERS DEAN J. TRANTALIS - Chair HEATHER MORAITIS - Vice Chair STEVEN GLASSMAN - Commissioner - District II ROBERT L. McKINZIE -Commissioner - District III BEN SORENSEN - Commissioner - District IV CHRIS LAGERBLOOM, Executive Director JOHN HERBST, City Auditor JEFFREY A. MODARELLI, Secretary ALAIN E. BOILEAU, General Counsel COMMUNITY REDEVELOPMENT Agenda November 16, 2021 AGENCY BOARD PUBLIC APPEARANCES BEFORE THE CRA BOARD: The City of Fort Lauderdale is hosting Board Meetings in both a virtual and in-person format. Due to COVID-19, Board Chambers seating capacity has been reduced; therefore, we are encouraging members of the public to participate virtually when possible. If any person wishes to address the Board virtually or in-person, the person shall sign up using the online Speaker Card prior to the meeting or sign up in the City Hall lobby using the City Clerk’s iPad. Speaker Cards are given to the Chair. After being recognized by the Chair, the speaker should identify the agenda item in question, indicate support, opposition, or neutrality on the agenda item, and then proceed to succinctly state the speaker’s position or present information. If an attorney, or any other person appears before the Board virtually or in-person in a representative capacity, the attorney, or other representative shall also sign up using the online Speaker Card prior to the meeting or sign up in the City Hall lobby using the City Clerk’s iPad. After being recognized by the Chair, the speaker should identify the client(s) being represented, and identify the agenda item in question. The speaker shall then indicate the client’s support, opposition, or neutrality on the agenda item and then proceed to succinctly state the client’s position or present information on behalf of the client(s). The online Speaker Card can be accessed at: https://www.fortlauderdale.gov/citycommissionmeetings. Pursuant to Section 3.13 of the Charter of the City of Fort Lauderdale, Florida, the Chair shall maintain order at all meetings, and the Police Department, upon instructions of the Chair, shall expel any person from the meeting who refuses to obey the order of the Chair in relation to preserving order at the meetings. Any person who interrupts or disturbs a City Board meeting, or who willfully enters or remains in a City Board meeting having been warned by the Chair to depart and who refuses to do so, may be subject to arrest. AUXILIARY AIDS AND SERVICES: If you desire auxiliary aids or services or both to assist in viewing or hearing the City Board meetings or reading the agenda and minutes for the meeting, please contact the City Clerk’s Office at 954-828-5002 at a minimum of two days prior to the meeting and arrangements will be made to provide these services to you. NOTICE TO MEMBERS OF THE PUBLIC: If a person decides to appeal any decision made by the board, agency, or commission with respect to any matter considered at such meeting or hearing, the person will need a record of the proceedings, and that, for such purpose, the person may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. City of Fort Lauderdale Page 2 Printed on 11/11/2021 COMMUNITY REDEVELOPMENT Agenda November 16, 2021 AGENCY BOARD ROLL CALL RESOLUTIONS R-1 21-0781 Resolution Authorizing Budget Amendment - Accept a $20,769,000 Bank Loan from Truist Bank and Appropriate $25,716,561. Of that amount, $23,260,940 for Debt Repayment and Business Incentive Projects. $2,455,621 for Debt Service Principal and Interest Loan Payment - (Commission District 3) Attachments: CRA Board Memo 21-0781 Exhibit 1 - Resolution R-2 21-0319 Resolution Approving a $4,000,000 CRA Development Incentive Program Loan to 909 NW 6th St. LLC for a Mixed-Use Commercial Development Project to be Located at 909 Sistrunk Boulevard, Authorizing the Executive Director to Execute Any and All Related Instruments, and Delegating Authority to the Executive Director to Take Certain Actions - (Commission District 3) Attachments: CRA Board Memo 21-0319 Exhibit 1 - Location Map Exhibit 2 - Application for Funding Assistance Exhibit 3 - Broward County Property Appraiser Information Exhibit 4 - Project Plans Exhibit 5 - Development Review Committee Approval Letter Exhibit 6 - Fuse Group Properties Exhibit 7 - Jobs to be Created Exhibit 8 - Fuse Group Project Team Exhibit 9 - Estimated Project Cost and Funding Commitments Exhibit 10 - January 12, 2021 CRA Advisory Board Approved Minutes Exhibit 11 - Development Incentive Program Letter of Intent Exhibit 12 - Resolution City of Fort Lauderdale Page 3 Printed on 11/11/2021 COMMUNITY REDEVELOPMENT Agenda November 16, 2021 AGENCY BOARD R-3 21-1095 Resolution to Approve an Expenditure of $1,846,789.02 to Fund the Relocation of Florida Power and Light Company Transmission Facilities that Crosses City Property at 543 NW 5th Avenue to Facilitate the Development of the Property - (Commission District 3) Attachments: CRA Board Memo 21-1095 Exhibit 1 – FPL Facilities Relocation Agreement with City and Binding Cost Estimate Exhibit 2 – Location of Transmission Line and Project Illustrations Exhibit 3 – CRA Advisory Board Approved Minutes – April 9, 2019 Exhibit 4 - Resolution R-4 21-1130 Resolution Amending Resolution No. 21-08 (CRA) to increase the fee of the law firm of Greenberg Traurig, LLP as Special Counsel to the Fort Lauderdale Community Redevelopment Agency from $32,500.00 to $42,500, plus costs not to exceed $2,500 in connection with closing on a taxable loan from Truist Bank in an amount not to exceed $23,100,000 to fund the Series 2021 Northwest-Progresso-Flagler Heights Project, Cost of Issuance and Refinance the Series 2015 Note - (Commission Districts 2 and 3) Attachments: CRA Board Memo 21-1130 Exhibit 1 - Resolution Exhibit 2- Resolution No. 21-08 (CRA) MOTIONS City of Fort Lauderdale Page 4 Printed on 11/11/2021 COMMUNITY REDEVELOPMENT Agenda November 16, 2021 AGENCY BOARD M-1 21-0946 Motion Approving a Subordination Agreement, Subordinating the CRA Mortgage to 613 NW 3rd Ave Holdings, Inc. in the Amount of $7,000,000 to a New Mortgage by NorthMarq in an Amount not to Exceed 85% of Loan to Value at the Time of Refinance; An Amendment to the Development Agreement, If Necessary; A Subordination of the Regulatory Agreement; and Authorizing the Executive Director to Execute Any and All Related Instruments, and Delegating Authority to the Executive Director to Take Certain Actions - (Commission District 2) Attachments: CRA Board Memo 21-0946 Exhibit 1 – Location Map Exhibit 2 – Broward County Property Appraiser Information and Photos Exhibit 3 – Letter from SIX13 NW 3rd Ave, LLC Exhibit 4 – City National Bank of Florida Mortgage - $19,274,000 Exhibit 5 – City National Bank of Florida Notice of Future Advance and Mortgage - $2,500,000 Exhibit 6 – CRA Mortgage - $7,000,000 Exhibit 7 – HUD Subordination Agreement (standard form) Exhibit 8 – HUD Commitment for Insurance Upon Completion Pursuant to Section 223 (f) (standa Exhibit 9 – HUD Rider/Amendment to Restrictive Covenants (standard form) Exhibit 10 – NorthMarq Engagement Letter Exhibit 11 – Appraisal Report for The SIX13 M-2 21-1041 Motion Appropriating Unspent Remaining Northwest Progresso Flagler Heights Community Redevelopment Agency Estimated Fiscal Year (FY) 2021 Year-End Incentive Fund Balances - (Commission District 3) Attachments: CRA Board Memo 21-1041 PUBLIC HEARINGS City of Fort Lauderdale Page 5 Printed on 11/11/2021 COMMUNITY REDEVELOPMENT Agenda November 16, 2021 AGENCY BOARD PH-1 21-0320 Public Hearing Accepting the Property Disposition and Development Proposal of Northeast 6th Development, LLC for the Purchase and Development of CRA Property at 1017 Sistrunk Boulevard and 606 NW 10th Terrace and Approving a $2,450,000 CRA Development Incentive Program Loan to Northeast 6th Development, LLC for the Victory Entertainment Complex, Authorizing the Executive Director to Execute Any and All Related Instruments and Delegating Authority to the Executive Director to Take Certain Actions - (Commission District 3) Attachments: CRA Board Memo 21-0320 Exhibit 1 - Location Map Exhibit 2 - Invitation for Proposals Propose/Notice of Intent to Dispose Exhibit 3 - Summary Appraisal Exhibit 4 - Northeast 6th Development, LLC Purchase and Development Proposal and Applicatio Exhibit 5 - CHD Housing LLC Purchase and Development Proposal Exhibit 6 - Marie A Wells Arts and Education Center Development Proposal Exhibit 7 - Project Prospective Tenant List Exhibit 8 - Information on Developer Exhibit 9 - January 12, 2021 CRA Advisory Board Minutes Exhibit 10 – March 10, 2021 Home Beautiful Park Civic Association Comments Exhibit 11 - Development Incentive Program Letter of Intent Exhibit 12- Commercial Contract and Addendum Exhibit 13 - Resolution City of Fort Lauderdale Page 6 Printed on 11/11/2021 COMMUNITY REDEVELOPMENT Agenda November 16, 2021 AGENCY BOARD PH-2 21-0321 Public Hearing Accepting the Property Disposition and Development Proposal of Sistrunk Apartments, LLC for the Development and Donation of CRA Property at 1204 Sistrunk Boulevard and 1620 NW 6 Court, and Approving a $8,000,000 CRA Development Incentive Program Loan to Sistrunk Apartments, LLC for “The Aldridge” and “The Laramore” Mixed-Use Affordable Housing Projects, Authorizing the Executive Director to Execute Any and All Related Instruments and Delegating Authority to the Executive Director to Take Certain Actions - (Commission District 3) Attachments: CRA Board Memo 21-0321 Exhibit 1 - Location Map Exhibit 2 - Invitation for Proposals Propose/Notice of Intent to Dispose Exhibit 3 - Summary Appraisal Exhibit 4 - Developer’s Proposal and Application for Funding Exhibit 5 - 15 Year Operating Proforma Exhibit 6 - Bank Commitment Letter Exhibit 7 - Estimated Project Cost Exhibit 8 - Information on Developer and Project Team Exhibit 9 - January 12, 2021 CRA Advisory Board Approved Minutes Exhibit 10 - Development Incentive Program Letter of Intent Exhibit 11 - Commercial Contract and Addendum to Contract Exhibit 12- Resolution PH-3 21-0720 Resolution Authorizing the Issuance of the Fort Lauderdale Community Redevelopment Agency Tax Increment Revenue and Refunding Notes, Series 2021 (Northwest-Progresso-Flagler Heights Community Redevelopment Area Projects) - (Commission Districts 2 and 3) Attachments: CRA Board Memo #21-0720 Exhibit 1- Loan Agreement Exhibit 2 – BAFO Bid Tabulation Exhibit 3 – Truist Rate Lock Letter Exhibit 4 - Resolution ADJOURNMENT City of Fort Lauderdale Page 7 Printed on 11/11/2021