AGENDA ITEM REPORT
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A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY MANAGER, OR THEIR DESIGNEES, TO EXECUTE THE ATTACHED SECURITY/LIEN AGREEMENT AMONG BROWARD COUNTY, THE CITY OF COCONUT CREEK, GRP GREENBOUGH 1, LLC, AND GSR RE PARTNERS, LLC, WHICH AGREEMENT TRANSFERS AND ASSIGNS RESPONSIBILITIES FOR THE PROJECT FUNDING, CONSTRUCTION, AND SECURITY OF THE FUTURE ROADWAYS AND OTHER INFRASTRUCTURE WITHIN THE MAINSTREET AT COCONUT CREEK DEVELOPMENT PROJECT.
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BACKGROUND:
On January 25, 2024, the City Commission adopted Ordinance No. 2023-034, approving an amendment to Ordinance No. 2010-006 and the Development Order for the MainStreet @ Coconut Creek Development, a Development of Regional Impact (DRI). This DRI outlined specific developer obligations to fund and construct site-access related improvements, such as off-site turn lanes, and to fund and construct all of MainStreet's internal roadway networks. Moreover, the developer's obligations also extend to the funding of traffic signal warrant studies as well as the funding and construction of off-site traffic signals.
On October 22, 2024, the MainStreet at Coconut Creek Plat was approved by the Board of County Commissioners of Broward County subject to certain conditions to ensure the protection of the public health and safety and to be consistent with the MainStreet at Coconut Creek Development of Regional Impact (DRI) public roadway improvement requirements.
Moreover, the Developer's obligations also extend to the funding of traffic signal warrant studies, as well as the funding and construction of off-site traffic signals identified in the DRI. The Broward County Traffic Highway Construction and Engineering Division requires a separate agreement for traffic signalization. Both Broward County, at their June 9, 2026, meeting, and the City Commission, at their May 14, 2026, meeting, approved the MainStreet Traffic Signalization Agreement. That agreement provided for the surety and security fo...
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