AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE THE ASSIGNMENT OF MAINTENANCE AGREEMENT TO MFREVF IV - CYPRESS, LLC FOR THE PURPOSE OF MAINTAINING IMPROVEMENTS WITHIN CITY RIGHT-OF-WAY ALONG NW 51 TERRACE.
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BACKGROUND:
VRS/Broadstone Cypress Hammocks, LLC (Broadstone) developed a project known as Broadstone Cypress Hammocks located along Hillsboro Boulevard adjacent to City of Coconut Creek (City) right-of-way on NW 51 Terrace. The City entered into a Right-of-Way Maintenance Agreement (Maintenance Agreement) with Broadstone, as executed by Resolution No. 2012-59, wherein Broadstone agreed to construct and maintain improvements, at no cost to the City, located in City right-of-way on NW 51 Terrace. Broadstone sold said property to MFREVF IV - Cypress, LLC (Cypress). Pursuant to Section 5 of the Maintenance Agreement, Broadstone is seeking consent from the City for the Assignment of Maintenance Agreement (Assignment) to Cypress.
DISCUSSION:
The City is committed to ensuring properties within public right-of-way are well-maintained. Consent of the Assignment will provide for continued maintenance of City right-of-way on NW 51 Terrace by the new adjacent property owner.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT: N/A