The purpose of this memorandum is to provide an update concerning Peanut Island. The city staff has continued to have productive conversations with the Port of Palm Beach concerning the potentiality of the City of Riviera Beach participating in the restoration and reconstitution of the historical facilities situated on Peanut Island. The city staff has also identified additional funding sources that are available via multiple state funding programs, such as the Florida Communities Trust, the Land and Water Conservation Grant, and the Special Category Historical Grant Program. Additionally, the city staff has received inquiries from philanthropic, nonprofit and private-sector entities that desire restoration of these historic facilities.

Furthermore, the city administration would like to bring forward a proposal and scope that will allow for private-sector participation in funding the restoration and reconstitution of the existing facilities. The city staff understands and is looking to mitigate any risks, and it seeks to work with private funders who will bear the cost of the responsibility to bring these historic facilities to life. This will be a much-needed asset and tourist destination for the City of Riviera Beach and the great Palm Beach County.