AGENDA ITEM REPORT
TITLE:
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AN ORDINANCE ESTABLISHING THE MAINSTREET AT COCONUT CREEK COMMUNITY DEVELOPMENT DISTRICT; MAKING CERTAIN FINDINGS OF FACT; DESCRIBING THE EXTERNAL BOUNDARIES OF THE DISTRICT; NAMING FIVE (5) PERSONS DESIGNATED TO BE THE INITIAL MEMBERS OF THE BOARD OF SUPERVISORS; PROVIDING FOR CONSENT FOR THE EXERCISE OF CERTAIN POWERS; AND PROVIDING FOR CONDITIONS OF APPROVAL. (FIRST READING)
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BACKGROUND:
On February 14, 2025, GSR RE Partners, LLC ("Petitioner") filed a request to establish the MainStreet at Coconut Creek Community Development District (MainStreet CDD), pursuant to Chapter 190, Florida Statutes, entitled the Uniform Community Development District Act of 1980.
DISCUSSION:
A Community Development District is a special-purpose unit of local government established under Chapter 190, Florida Statutes, to plan, finance, construct, operate, and maintain certain infrastructure improvements within its boundaries. The proposed MainStreet CDD would encompass approximately 183 acres generally north of Sample Road, west of Lyons Road, south of Wiles Road, and east of State Road 7. The Petitioner has indicated that the land within the boundaries is intended for a mixed-use development consisting of residential and commercial uses consistent with the MainStreet at Coconut Creek Planned MainStreet Development District (PMDD).
The Petition states that the MainStreet CDD would provide certain infrastructure and services, including:
* Storm Water/Surface Water Management: $15,499,835
* Water Distribution: $4,112,666
* Wastewater Collection: $8,497,365
* Roadway Improvements: $20,676,542
* Open Space/Landscaping: $11,500,509
* Re-use Water System (Irrigation): $6,006,923
* Public Parking Garage: $11,000,000
* Village Green/Lakeside Plaza: $6,706,160
The Petitioner estimates the total cost of these improvements to be approximately $84 million, with construction occurring in phases between the fourth quarter of 2025 and the fourth quarter of 20...
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