TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: October 18, 2023
Title
RESOLUTION - AUTHORIZING EXECUTION AND SUBMISSION OF A LETTER TO THE BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS, REQUESTING AN EXTENSION OF THE MARGATE COMMUNITY REDEVELOPMENT AGENCY SUNSET DATE TO THE END OF THE 2046-2047 FISCAL YEAR
BACKGROUND: Chapter 163, Part III, of the Florida State Statutes requires that all Community Redevelopment Agencies (CRA’s) have a formally adopted plan in place to plan and initiate any community redevelopment initiatives within a CRA district. The Margate CRA (MCRA) Redevelopment Plan was originally adopted in September 1997, and has been updated three times: 2001, 2009, and 2017. Many of goals and objectives have been accomplished and the MCRA wishes to reevaluate and refocus its plan and vision for the future which includes, but is not limited to, the following: downtown city center; economic development strategy for industrial areas, beautification improvements for residential areas, and placemaking strategies.
The MCRA is scheduled to sunset on August 13, 2026. As detailed in the report by GAI Consultants, Inc., the proposed Margate City Center development project will stimulate both short term employment, long-term jobs, as well as a significant increase to the City, County, and region’s tax base. To fully implement the City Center project, an extension to the MCRA sunset is required.
This agenda item is to seek approval to execute and submit a letter to the Broward County Board of County Commissioners, requesting an extension to the MCRA sunset date to the end of the 2046-2047 fiscal year.
RECOMMENDATION: For approval.
FISCAL IMPACT: n/a
CONTACT PERSON: Cale Curtis, City Manager