AGENDA ITEM REPORT
TITLE:
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A RESOLUTION AUTHORIZING THE MAYOR, OR DESIGNEE, TO EXECUTE THE FOURTH AMENDMENT TO THE RESOURCE RECOVERY ASSET LITIGATION SETTLEMENT AGREEMENT TO PROVIDE FOR EXTENSIONS TO THE TIME PROVIDED TO SELL THE ALPHA 250 PROPERTY.
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BACKGROUND:
In June 2015, Broward County and twenty-one (21) cities and towns, including the City of Coconut Creek (“Settling Municipalities”), entered into a settlement agreement and four (4) non-settling, but consenting municipalities entered into separate interlocal agreements (“Consenting Municipalities”) to handle distribution of assets to dispose of the litigation styled City of Sunrise, et al. v. Broward County, 17th Judicial Circuit Court Case No. CACE-013-015660 (hereinafter “settlement agreement”). As part of that settlement agreement, the parties contemplated a timeframe within which to sell a land asset that was jointly owned by the parties, commonly known as the Alpha 250 property.
DISCUSSION:
Since that time, the County, Settling Municipalities, and Consenting Municipalities desire to amend the settlement agreement to extend the Sale Delay Period for the Alpha 250 property until October 11, 2027, with authority for up to three (3) additional extensions of up to one (1) year each upon the written approvals specified in the Fourth Amendment, to provide the Solid Waste Authority with additional time to identify available assets county-wide and come up with the best possible county-wide plan for solid waste disposal and recycling in order to protect public funds and preserve investments in infrastructure.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT: N/A