City of Coconut Creek - File #: ORD 2025-034-1

• File #: ORD 2025-034-1
• Name: MainStreet Land Exchange Agreement (First Reading & First Public Hearing)
• Type: Ordinance
• Status: Agenda Ready
• File created: 7/21/2025
• In control: City Commission
• On agenda: 8/7/2025
• Title: AN ORDINANCE APPROVING THE EXCHANGE OF REAL PROPERTY AGREEMENT AND APPROVING THE PURCHASE AND SALE OF REAL PROPERTY DESCRIBED THEREIN BY AND BETWEEN THE CITY OF COCONUT CREEK AND GSR RE PARTNERS, LLC, FOR REAL PROPERTY DESCRIBED AS BLOCK 15A OF THE MAINSTREET @ COCONUT CREEK DEVELOPMENT, AS FURTHER DESCRIBED IN EXHIBIT "1" TO EXHIBIT "N," ATTACHED HERETO, WHICH IS COMPRISED OF APPROXIMATELY 6.1355 ACRES TO BE CONVEYED BY CITY TO GSR AND BLOCKS 12A, 12B, 13, AND CIVIC NODE CIRCULATION OF THE MAINSTREET @ COCONUT CREEK DEVELOPMENT, AS FURTHER DESCRIBED IN EXHIBIT "3" TO EXHIBIT "N," ATTACHED HERETO, WHICH IS COMPRISED OF APPROXIMATELY 5.732 ACRES TO BE CONVEYED BY GSR TO CITY AND AUTHORIZING THE MAYOR TO EXECUTE THE AGREEMENT. (FIRST READING)(FIRST PUBLIC HEARING)
• Indexes: Agreement, City Attorney, First Reading, Mainstreet Project, Ordinance, Real Property
• Related files: ORD 2025-035-1

AGENDA ITEM REPORT
TITLE:
title
AN ORDINANCE APPROVING THE EXCHANGE OF REAL PROPERTY AGREEMENT AND APPROVING THE PURCHASE AND SALE OF REAL PROPERTY DESCRIBED THEREIN BY AND BETWEEN THE CITY OF COCONUT CREEK AND GSR RE PARTNERS, LLC, FOR REAL PROPERTY DESCRIBED AS BLOCK 15A OF THE MAINSTREET @ COCONUT CREEK DEVELOPMENT, AS FURTHER DESCRIBED IN EXHIBIT "1" TO EXHIBIT "N," ATTACHED HERETO, WHICH IS COMPRISED OF APPROXIMATELY 6.1355 ACRES TO BE CONVEYED BY CITY TO GSR AND BLOCKS 12A, 12B, 13, AND CIVIC NODE CIRCULATION OF THE MAINSTREET @ COCONUT CREEK DEVELOPMENT, AS FURTHER DESCRIBED IN EXHIBIT "3" TO EXHIBIT "N," ATTACHED HERETO, WHICH IS COMPRISED OF APPROXIMATELY 5.732 ACRES TO BE CONVEYED BY GSR TO CITY AND AUTHORIZING THE MAYOR TO EXECUTE THE AGREEMENT. (FIRST READING)(FIRST PUBLIC HEARING)

body
BACKGROUND:
On September 22, 2022, the City Commission gave direction to the City Manager to conduct due diligence regarding the potential exchange of real property known as Blocks 15A and 12A, 12B, 13, and Civic Node Circulation of the MainStreet @ Coconut Creek Development for the purpose of increasing recreational opportunities in the City and providing space for a recreational complex, amphitheater, and public parking garage in the MainStreet Project Area (MSPA).
DISCUSSION:
Pursuant to Sections 310 f. and 310 g. of the City's Charter, an ordinance is required to convey any lands owned by the City and to acquire any real property by purchase. According to the Exchange of Real Property Agreement (Exhibit "N"), the City intends to convey an approximately 6.1355 acre parcel to GSR RE Partners, LLC (GSR) for residential and parking use, while GSR intends to transfer four (4) parcels, with a total of 5.732 acres, to the City for public facilities. This agreement also facilitates the transfer of a small 719.39 square foot parcel from the Florida Department of Transportation (FDOT) to the City. The transaction is structured as an equal-value exchange based on appraised ...