Fort Walton Beach Council agenda — 2-25-14--regular — reading text

for the preceding calendar year. 2. DISCUSSION: 2. 1. During the 2013 calendar year, the following activities were completed in the Community Redevelopment Area. 2. 2. Summary of CRA Activities: 2. 2. 1. Following a successful launch in 2012, interest in the CRA economic incentive programs remained strong through 2013. These programs have been successful in promoting the advancement of three CRA goals: ( 1) direct removal of blight through the Nuisance Abatement Program, ( 2) removal of development barriers by eliminating City development fees through the Development Assistance Program, and ( 3) more noticeable improvements in the appearance of property through the Streetscape and Fagade Grant Programs. The success of each program accounted for a total of $286K in approved grant funding in 2013. In return, the associated approved projects accounted for approximately $ 1. 3M in private investment within the CRA. 2. 2. 1. 1. Matching Fagade Grant Program - A total of $ 153K in funding was approved. 2. 2. 1. 2. Development Assistance Grant Program - A total of $46K in funding was approved. 2. 2. 1. 3. Nuisance Abatement Grant Program - A total of $49K in funding was approved. 2. 2. 1. 4. Matching Streetscape Grant Program - A total of $38K in funding was approved. 2. 2. 2. Landmark Center 2. 2. 2. 1. At the February 12, 2013 City Council meeting, Council unanimously approved a new Development Agreement for the Landmark Center. Page 1 of 3  The new agreement requested participation and funding from the CRA economic incentive programs including $ 550, 000. 00 through the Development Assistance Grant program and $ 351, 000. 00 through the Matching Streetscape Grant program. 2. 2. 3. Sound Side Development 2. 2. 3. 1. At the February 12, 2013 City Council meeting, Council unanimously approved a second amendment to the Interlocal Agreement for the Sound Side Development. The amended Interlocal Agreement reduced the CRA' s financial contribution from $ 2, 500, 000 to $ 700, 000, allowing for reallocation of the remaining funds to other projects and programs within the CRA. Sound Side is a joint public /private partnership effort to provide new affordable housing opportunities, which is a primary goal of the Fort Walton Beach CRA. Construction began on the project in late 2013 and is nearly complete. 2. 2. 4. Promotional Contributions 2. 2. 4. 1. During 2013, the CRA contributed $ 35K towards promoting events and organizations within the CRA. These include the Jingle Bell Jog, Musical Echoes, BBQ Festival, Christmas Market, Arts and Design Society Mural, Latin Festival, and the Downtown Merchants Association. 2. 3. Summary of CRA Projects 2. 3. 1. Heritage Park Archway Entrance 2. 3. 1. 1. On October 22, 2013, City Council awarded a bid to Pound Construction Co. for construction of the new Heritage Park Archway entrance. The project is currently underway. 3. FINANCIAL INFORMATION: 3. 1. Detailed financial information and reporting will be presented to City Council on March 11, 2014, in the Comprehensive Annual Financial Report. 4. RECOMMENDATION: 4. 1. There is no Staff recommendation; this item is for information only. ATTACHMENTS: 2013 CRA Annual Report - PP ( PDF) SIGNATURE BLOCK: Christopher Frassetti Con Zpleted 01/ 22/ 2014 4: 09 PM Stella Wilson Completed 02/ 04/ 2014 9: 32 AM Brandy Ferris Completed 02/ 04/ 2014 1: 30 PM Tim Bolduc Completed 02/ 04/ 2014 7: 55 PM Carole Jones Completed 02/ 04/ 2014 1: 36 PM City Manager Completed 02/ 04/ 2014 3: 59 PM Page 2 of 3 Community Redevelopment Agency Completed 02/ 17/ 2014 10: 01 AM City Council Pending Page 3 of 3 Ac-Liv1IleS & 1-1(; COHIPHS11111ell l5 U1 - - -- - -- -- - - - - the CRA for the Calendar Year 2013 I& I. i 0: 1 COMMUNITY REOEYELOPMENT AGENCY Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) Activities CRA Economic Incentive Grant Programs Heritage Park & Cultural Center Archway Landmark Center Sound Side Development Promotional Contributions New Logo Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) Grant Programs Matching Fagade Grant • Matching Streetscape Grant 0 16 grants approved 5 grants approved 5188, 734.49 in funding approved 0 865, 079. 72 in funding approved Development Assistance Grant Nuisance Abatement Grant 12 grants approved 5 grants approved S57,46o. 71 in funding approved 77, 320 in funding approved Total Private Investment in 2013: $ 1, 209, 955. 20 Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) Matching Facade Grant Program Miracle Strip Parkway building After Before Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) Cultural Center Archway Upgrade to Heritage Park and Cultural Center Archway entrance. Construction bid approved in October 2013. Project currently under construction. Total CRA funding: 74, 880. 09 Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) Landmark Center Development Agreement 7 y approved by City Council in February 2013 and again in February 2014. Includes: City property transfer Additional parking downtown Economic activity Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) Sound Side Development Amended Second Interlocal Agreement approved by City Council in February 2013 . Limits City contribution to 700, 000 from CRA Fund. Project currently under construction. Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) CRA Promotional / Ad Contributions Downtown Merchants Association $ 14, 700 Art Center Mural $ 3, 000 2, 500 Jingle Bell Jog $ Christmas Market $ 2, 500 Latin Festival $ 1, 000 Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report) New CRA Logo Created New Logo ( 2013) Prior Logo ( 1998) COMMUNITY REOEYEIOPMENT AGENCY Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report)  Questions? COMMUNITY REDEVELOPMENT AGENCY Attachment: 2013 CRA Annual Report - PP ( 2715: 2013 CRA Annual Report)  City Council of Fort Walton Beach 0 To: 1 CITY MANAGER MEMORANDUM Michael D. Beedie, City Manager From: Carole Jones, Executive Assistant Date: February 25, 2014 Subject: Consideration of a Development Agreement for Landmark Center 1. BACKGROUND: 1. 1. On August 10, 2007, City Council approved a Development Order for the Landmark Center, a 122, 000 square foot mixed -use retail / office / residential project, to be located at the corner of 223 Miracle Strip Parkway SE and 206 Perry Avenue SE in Downtown Fort Walton Beach. 1. 2. On December 13, 2007, City Council approved an associated Development Agreement for the Landmark Center development to purchase public parking spaces in the proposed parking garage. 1. 3. On September 10, 2010, the Local Planning Agency approved a Conditional Use request to allow transient lodging as a component of the project. 1. 4. During review of the Development Agreement on September 28, 2010, City Council found the Developer in default of the Development Agreement. 1. 5. In December 2012, the City received a new Development Agreement application from Ft. Walton Development Partners, LLC. The new agreement was approved by City Council on February 12, 2013. The agreement was executed by both parties on April 29, 2013. According to the Agreement, the deadline to apply for a building permit was October 29, 2013. 2. DISCUSSION: 2. 1. Prior to the October 29, 2013 deadline, the developers contacted Staff to discuss amendments to the Development Agreement approved by City Council on February 12, 2013. 2. 2. In December 2013, Staff received a revised version of the Development Agreement from Ft. Walton Development Partners, LLC with the proposed amendments. 2. 3. After a review of the requested amendments and