| Background/Summary: | The City of Riviera Beach (City) and the Riviera Beach Community Redevelopment Agency (CRA) have joined in a partnership to begin the negotiation process with the developer. Together we have formed a Joint Work Team (JWT) to manage and implement negotiations, community outreach, and City Council directives. The JWT is requesting direction from the City Council in order to engage a Financial Advisor.
The Phase II Marina Village redevelopment project is designed to build upon the infrastructure and public investment that have already been completed and the next phase of development is a tremendous opportunity for the City to attract a significant number of new jobs, tax revenue, local business opportunities, and new economic development.
The City and CRA are working collaboratively to ensure that the City receives the best outcomes from the proposed new development. On February 12, 2020, the CRA Board voted to select Commissioner Julia Botel to join the Joint Work Team. The next step in the process is to retain the Financial Advisor to assess the Developers Financial Capability, and review their partnership structure, organization, and ability to deliver the Phase II project. Following a successful assessment of the Developers financial capability the process will next include mobilizing community engagement and to commence expedited negotiations. |
| | | | | | | |