A. MOTION TO APPROVE Agreement between Broward County and The View at Central City Developer, LLC, Providing State Housing Initiatives Partnership Program Funding for Multifamily Rental Construction, retroactive to July 1, 2025, in substantially the form attached as Exhibit 1, and to authorize the County Administrator to execute same with any required modifications provided such modifications do not impose any additional cost or material risk to County, and subject to review as to legal sufficiency by the County Attorney’s Office. (Commission District 4) B. MOTION TO APPROVE Agreement between Broward County and Pinnacle at Cypress, LLLP, Providing State Housing Initiatives Partnership Program Funding for Multifamily Rental Construction, retroactive to July 1, 2025, in substantially the form attached as Exhibit 3, and to authorize the County Administrator to execute same with any required modifications provide such modifications do not impose any additional cost or material risk to County, and subject to review as to legal sufficiency by the County Attorney’s Office. (Commission District 4) — Exhibit 3 - SHIP Agreement Pinnacle at Cypress — County Commission (2026-05-12)
Broward County, Florida, Broward County, Florida
AI Summary
Broward County enters into a State Housing Initiatives Partnership (SHIP) financing agreement with a private sponsor to fund Phase 1 of the "Pinnacle at Cypress" affordable housing development in Fort Lauderdale. The County will provide up to $115,000 in financing, secured by a mortgage and promissory note, for the construction of 100 one-bedroom apartments in an 8-story high-rise targeted to elderly residents (ages 62+). The contract runs from July 1, 2025 through June 30, 2028, with an option for a one-year extension, and requires the sponsor to maintain affordability standards, submit quarterly progress reports, and comply with all applicable fair housing and regulatory requirements.
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