HomeMy WebLinkAbout257142 - MINUTES - CRA MINUTES OF SPECIAL MEETING
CITY OF DANIA BEACH
COMMUNITY REDEVELOPMENT AGENCY
TUESDAY, JUNE 14, 2011 — 6:30 P.M.
1. Call to Order/Roll Call
Vice-Chairman Grace called the meeting to order at 6:35 p.m.
Present:
Chairman: Patricia A. Flury (arrived 6:41 p.m.)
Vice-Chairman: Bobbie H. Grace
Board Members: Anne Castro
Walter Duke
C. K. "Mac"McElyea (arrived 6:38 p.m.)
City Attorney: Thomas Ansbro
CRA Secretary: Miriam Nasser
CRA Executive Director: Jeremy Earle
2. Resolution#2011-CRA-006
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE CITY OF DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY, EXPRESSING THE SUPPORT OF THE DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY IN CONNECTION WITH THE DOWNTOWN DANIA BEACH CITY CENTER
PROJECT OF DOWNTOWN DANIA BEACH DEVELOPMENT, LLC; PROVIDING FOR CONFLICTS;
FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
City Attorney Ansbro read the title of Resolution#2011-CRA-006.
Jeremy Earle, CRA Executive Director, noted we have been in re-negotiations with Hank
Thomas of Downtown Dania Beach Development, LLC per the Development agreement. He
further advised that Mr. Thomas partnered with CGI Capital Holdings to facilitate the financing
of the City Center project. Director Earle indicated that the proposed resolution will be used as a
tool to move this project forward.
Board Member McElyea arrived at 6:38 p.m.
Hank Thomas, Downtown Dania Beach Development, LLC, noted that after several discussions
with his business associates, they presented their proposal to CGI Capital Holdings who agreed
to be a partner on this project.
Manuel E. Borrajo, Managing Director, CGI Capital Holdings, provided a brief overview of their
company and the reason for their commitment to this project. He noted they are a minority-
based investment bank located in Miami. They are registered with the Financial Industry
Regulatory Authority (FINRA), the Security Exchange Commission (SEC) and the State
Banking Authority of Connecticut. Mr. Borrajo indicated that their practice is based around
investment banking as well as asset management. He said they do a lot of government related
work in addition to real estate. Mr. Borrajo stated that their background of developing projects
and economies and the social aspects behind these is the key driver of their practice. He
remarked that this project is attractive, very realistic and fits their values. Mr. Borrajo noted that
a public private partnership is ideal for this project.
Chairman Flury arrived at 6:41 p.m.
Board Member Castro motioned to approve Resolution #2011-CRA-006; seconded by
Board Member Duke. The motion carried on the following 5-0 Roll Call vote:
Board Member Castro Yes Vice-Chairman Grace Yes
Board Member Duke Yes Chairman Flury Yes
Board Member McElyea Yes
Board Member Castro noted she is excited about this project and looks forward to working with
CGI to move it forward.
Chairman Flury thanked the CGI Capital Holdings representatives for their interest in our City.
Board Member McElyea thanked Hank Thomas for everything he is doing for Dania Beach.
3. Adjournment
Chairman Flury adjourned the meeting at 6:48 p.m.
ATTEST: COMMUNITY REDEVELOPMENT
AGENCY
LOUISE STILSON, CMC PATRICIA A. FLURY
CRA SECRETARY CHAIRMAN—CRA
Approved: July 6, 2011
DAMN BEACH
COMMGN.TY RE LVELOPMENT AGENCY
Minutes of Special Meeting 2
City of Dania Beach Community Redevelopment Agency
Tuesday,June 14,2011 —6:30 p.m.