File #: 23-0958    Version: 1 Name:
Type: RESOLUTION Status: Agenda Ready
File created: 9/20/2023 In control: Community Redevelopment Agency
On agenda: 11/7/2023 Final action: 11/7/2023
Title: Resolution Approving an $8,000,000 Development Incentive Program Forgivable Loan and a $2,000,000 Development Incentive Program Zero Interest Loan to Sunshine Shipyard, LLC for the Arcadian Project located at 640 NW 7th Avenue, Authorizing a Lease of Commercial Space in the Project to the Fort Lauderdale Community Redevelopment Agency, Authorizing the Executive Director to Execute Any and All Related Instruments, and Delegating Authority to the Executive Director to Take Certain Actions - (Commission Districts 2 and 3)
Sponsors: COMMUNITY REDEVELOPMENT AGENCY BOARD
Attachments: 1. CRA Board Memo 23-0958, 2. Exhibit 1 - Location Map – The Arcadian, 3. Exhibit 2 - Developer’s CRA Funding Application for the Arcadian, 4. Exhibit 3 - Broward County Property Appraiser Information, 5. Exhibit 4 - Final Development Review Committee (DRC) Certificate of Compliance, 6. Exhibit 5 - Affordable Housing Agreement for the Arcadian, 7. Exhibit 6 - Arcadian Project Plans, 8. Exhibit 7 - Letter from Fuse Group, 9. Exhibit 8 - September 12, 2023 CRA Advisory Board Draft Minutes Recommending Funding for the Arcadian Project and Changes to the 909 Sistrunk Project, 10. Exhibit 9 - Development Incentive Program Letter of Intent – The Arcadian Project, 11. Exhibit 10 - Resolution, 12. REVISED CRA R-2 - CAM 23-0958 - signed, 13. RESOLUTION NO. 23-13 (CRA), 14. CAM 23-0958 Letter of intent sunshine shipyard LLC, 15. CAM 23-0958 Subordination standstill and intercreditor agreement sunshine shipyard (Arcadian project.), 16. CAM 23-0958 Construction loan agreement sunshine shipyard arcadian project., 17. CAM 23-0958 Declaration of restrictive covenant sunshine shipyard arcadian project., 18. CAM 23-0958 Environmental indemnity agreement sunshine shipyard and Arcadian project., 19. CAM 23-0958- Surety bond sunshine shipyard arcadian project., 20. CAM 23-0958 Development agreement sunshine shipyard arcadian project, 21. CAM 23-0958 FPL Easement Arcadian

Title

Resolution Approving an $8,000,000 Development Incentive Program Forgivable Loan and a $2,000,000 Development Incentive Program Zero Interest Loan to Sunshine Shipyard, LLC for the Arcadian Project located at 640 NW 7th Avenue, Authorizing a Lease of Commercial Space in the Project to the Fort Lauderdale Community Redevelopment Agency, Authorizing the Executive Director to Execute Any and All Related Instruments, and Delegating Authority to the Executive Director to Take   Certain Actions - (Commission Districts 2 and 3)