Fort Walton Beach Council agenda — 09-25-12 regular — reading text

L° @E t Q Q Q E dN n d Nd a oodo ° LLEL rara ra O_O_ N OO GG UU EE CC NN dd dd cc0cE OO O CC UU UU 000 OO CC NN UU RR Q]Q] TT C aa a xx @@ QQ @@ y oo 00  F61.a wem Packet Pg. 47  7. 1 City Council of Fort Walton Beach CITY MANAGER MEMORANDUM To: Michael D. Beedie, City Manager From: Carole Jones, Executive Assistant Date: September 25, 2012 Subject: Approval of Agenda SIGNATURE BLOCK: Carole Jones Completed 09/ 14/ 2012 2: 36 PM Carole Jones Completed 09/ 14/ 2012 2: 36 PM City Manager Completed 09/ 17/ 2012 11: 16 AM City Council Pending Packet Pg. 48  F- 8- 1 City Council of Fort Walton Beach CITY CLERK MEMORANDUM To: Michael D. Beedie, City Manager From: Helen Spencer, City Clerk Date: September 25, 2012 Subject: Approval of Minutes ATTACHMENTS: 9 -4 -12 City Council Workshop ( Landmark Center) ( DOC) 9 -4 -12 City Council Regular Meeting ( DOC) DOC) 9 -5 - 12 City Council Special Meeting (Budget I st Hearing) ( 9 -11 - 12 City Council Regular Meeting ( DOC) SIGNATURE BLOCK: Helen Spencer Completed 09/ 17/ 2012 11: 05 AM Carole Jones Completed 09/ 17/ 2012 11: 49 AM City Manager Completed 09/ 17/ 2012 12: 05 PM City Council Pending Packet Pg. 49  a. t. a City Council of Fort Walton Beach 107 Miracle Strip Parkway Fort Walton Beach, FL 32548 2) — Workshop http: llwww. wb. org Minutes — Carole Jones 850) 833 -9504 5: 00 PM Council Chamber Tuesday, September 4, 2012 Call to Order Meeting called to order on September 4, 2012, at 5: 00 pm at Council Chamber, 107 Miracle Strip Parkway, fort Walton Beach, Florida. Attendee Name Title Status Arrived... f5cm 0 Mike Anderson Mayor Present i Council Seat 1 Present Bobby Griggs n joyce gossom, Council Seat 2 Present a° Dennis Reeves Council Seat 3 Present Trey Goodwin Council Seat 4 Present Present _ mm Bobby Nabors Council Seat 5 Bull Rigdon Council Seat 6 Present Dick R nearson Council Seat 7 Present Invocation None. Pledge of Allegiance The Mayor led in the Pledge of Allegiance. Landmark Discussion Michael Beedie, Acting City Manager, advised that presentations will be given from Kay Rasmussen of the EDC and Ken Wright, a partner in the Landmark Development, to be followed by Staffs presentation and questions and answers from Council. Kay Rasmussen of the Economic Development Council ( EDC) stated the EDC' s support of the Landmark project. Ms. Rasmussen presented a brief overview of the project and discussed how the project will revitalize and diversify downtown. She also discussed the positive economic impact, both short and long term, the project will have for the City by increasing the tax base for the City, increasing the City' s competitive advantage, and improving the quality of place for the citizens of Fort Walton Beach. Ken Wright, 159 Brooks Street and a partner in the Landmark Center development, discussed the planned development specifics of the project and presented renderings of how the development will look after completion. Council discussed concerns regarding the amount of funding the City is expected to invest in the project and the need to ensure the taxpayer' s dollars are being protected. Further discussion included the cost of the proposed parking deck and how the Tax Increment Funding (TIF) will be used to pay for the development. Cir, Caunetl ojFort Welwn Beach Page I Packet Pg. 50  8. 1. a Minutes September 4, 2012 Workshop Tim Bolduc, Development Services Manager, identified the four areas that the developers of the project are asking for assistance from the City: 1) a piece of city -owned property next to the development for an eventual parking garage which the developers would maintain and which 243 of the 343 parking spaces would be accessible to the public; 2) funding the infrastructure portion of the project in the amount of 1. 2 million; 3) participation in the City's development assistance grant program in the amount of $500, 000 and streetscape grant program in the amount of $380,000 for a total amount of $850,000; and 4) the City to return TIF revenue generated to offset the cost of building the puking garage. Mr. Bolduc advised the City' s total investment would be about $ 5 million. v Mr. Bolduc stated the City has met with the developers and lenders of the project and expressed ' e