File #: 25-0963    Version: 1 Name:
Type: RESOLUTION Status: Agenda Ready
File created: 9/16/2025 In control: Community Redevelopment Agency
On agenda: 11/4/2025 Final action: 11/4/2025
Title: Resolution Approving the Amended and Restated Development Agreement; Ground Lease; Non-Profit Grant Agreement; Declaration of Restrictions, Recognition, Attornment and Assent to Leasehold Mortgage and Landlord Estoppel (Recognition Agreement) for The Aldridge and The Laramore Mixed-Use Project; Amending Resolution No. 21-16 and Resolution No. 22-06 to the extent inconsistent herewith; Ratifying Resolution No. 25-02; Terminating the Vacant Land Contract by and between the CRA and Invest Fort Lauderdale, Inc.; 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)
Sponsors: COMMUNITY REDEVELOPMENT AGENCY BOARD
Attachments: 1. CRA Board Memo 25-0963, 2. Exhibit 1 - Area Maps, 3. Exhibit 2 - BCPA Information, 4. Exhibit 3 - Amended and Restated Development Agreement, 5. Exhibit 4 - Ground Lease, 6. Exhibit 5 - Grant Agreement, 7. Exhibit 6 - Declaration of Restrictions, 8. Exhibit 7 - Recognition Agreement, 9. Exhibit 8 - Real Estate Appraisal Report of the Sistrunk Apartments, 10. Exhibit 9 - John Paul Foundation – List of Board Members, 11. Exhibit 10 - John Paul Foundation – IRS Tax Exempt Letter, 12. Exhibit 11 - Resolution No. 21-16 (CRA) - Forgivable Loan in the amount of $8 Millon to Sistrunk Apartments, LLC, 13. Exhibit 12 - Resolution No. 22-06 (CRA) - Amendment of Resolution 21-16, 14. Exhibit 13 - Resolution No. 25-02 (CRA) - Funding Increase to $9 Million, 15. Exhibit 14 - Resolution 25- (CRA), 16. Exhibit 15- Flow of Funds, 17. Exhibit 16- Organization Chart-Owner/Borrower, 18. RESOLUTION NO. 25-17 (CRA), 19. CAM# 25-0963 - Alridge & Laramore - Sistrunk Apartments - Title Affidavit, 20. CAM 25-0963 CRA (Aldridge & Laramore) Nonprofit grant agreement, DRC, recognition to lease holder mortgages, ground lease and restated development agreement., 21. CAM 25-0963 Subordination and Intercreditor Agreement - City of Fort Lauderdale, 22. CAM 25-0963 Subordination and Intercreditor Agreement - GAP and HOME-ARP Loans, 23. CAM 25-0963 Amended and Restated Development Agreement - Sistrunk Apartments - The Aldridge and The Laramore(9730278.20), 24. CAM 25-0963 CRA, NonProfit Grant Agr_DRC_ Recognition_Ground Lease_Amd and Restated Lease, 25. CAM 25-0963 Environmental Indemnity(13279006.3), 26. CAM 25-0963 Gound Lease, 27. CAM 25-0963 Grant Agreement - Sistrunk Apartments(13021404.8), 28. CAM 25-0963 Home-ARP Declaration of Covenants and Restrictions, 29. CAM 25-0963 HOME-ARP Subordination Agreement - City of Fort Lauderdale, 30. CAM 25-0963 On Off Street Parking Agreement, 31. CAM 25-0963 Recognition Attornment and Assent, 32. CAM 25-0963 Subordination Agreement - City of Fort Lauderdale

Title

Resolution Approving the Amended and Restated Development Agreement; Ground Lease;  Non-Profit Grant Agreement; Declaration of Restrictions, Recognition, Attornment and Assent to Leasehold Mortgage and Landlord Estoppel (Recognition Agreement) for The Aldridge and The Laramore Mixed-Use Project; Amending Resolution No. 21-16 and Resolution No. 22-06 to the extent inconsistent herewith; Ratifying Resolution No. 25-02; Terminating the Vacant Land Contract by and between the CRA and Invest Fort Lauderdale, Inc.; 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)