HomeMy WebLinkAboutR-2017-050 De-Obligating Bridge Loan Funding to the DBCRA for Public Improvements Concerning ''Mile Marker 55'' Project in the Amount of $1,128,143.00 & Authorizing the Return of Funds to General Fund RESOLUTION NO. 2017-050
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, DE-OBLIGATING BRIDGE LOAN FUNDING TO THE
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY (DBCRA)
FOR PUBLIC IMPROVEMENTS IN CONNECTION WITH THE "MILE
MARKER 55" PROJECT IN THE AMOUNT OF ONE MILLION ONE
HUNDRED TWENTY EIGHT THOUSAND ONE HUNDRED FORTY THREE
DOLLARS ($1,128,143.00) AND AUTHORIZING THE RETURN OF FUNDS
TO THE CITY'S GENERAL FUND CONTINGENCY; PROVIDING FOR
CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, in May 2014, the City Commission approved a bridge loan to the DBCRA
in connection with an Interlocal Agreement with Broward County relating to public
improvements with a new mixed use redevelopment project known as "Mile Marker 55" in the
amount of One Million One Hundred Twenty Eight Thousand One Hundred Forty Three Dollars
($1,128,143.00); and
WHEREAS, the proposed project was required to be completed by May 19, 2017 and
has not come to fruition and the grant is no longer applicable to this project; and
WHEREAS, the City is requesting the loan to the CRA for this project be returned to the
City's General Fund; and
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the foregoing findings are made a part of and incorporated into this
Resolution by this reference.
Section 2. That the City Administration is authorized to de-obligate the bridge loan
and authorizes the return of funds from the DBCRA to the City's General Fund in the amount of
One Million One Hundred Twenty Eight Thousand One Hundred Forty Three Dollars
($1,128,143.00).
Section 3. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on June 13, 2017.
ATTEST: o�pR°Is F��r
LOUISE STILSON, CMC AMARA JAME
CITY CLERK gyp, AYOR
' ATED 19"
APPROVED AS TO O AND CORRECTNESS:
r� I
THO J. AN R
CITY ATTORN
2 RESOLUTION#2017-050