This agenda supports the Board's goal of increased economic strength and impact of revenue-generating County enterprises balancing economic, environmental, and community needs.
On May 19, 2015 (Item No. 41B), the Board designated itself as the Direct Procurement Authority (DPA) for the Broward County Convention Center Expansion and Headquarters Hotel Projects.
On August 25, 2015 (Item No. 44), the DPA reviewed the Developers’ Step One submittals and qualified five Developers.
On November 3, 2015 (Item No. 25), the DPA reviewed the Developers’ Step Two submittals, qualified the Developers’ teams and shortlisted three Developers.
On November 3, 2015, the County issued a Request for Letters of Interest to the shortlisted Developers. On March 11, 2016, the County received one submittal from the Developer, Matthews Southwest Holdings, Inc. (MSW)
On August 16, 2016, the DPA approved a Pre-Development Agreement with MSW.
On November 1, 2016 the DPA approved a conceptual site plan to provide staff with appropriate design direction on how to proceed with the Project.
On April 4, 2017, the DPA heard presentations from County staff and from the MSW development team on the updated design proposal for the Project. The DPA expressed support for the new design.
On October 3, 2017 the DPA approved 1) a new design for the headquarters hotel, 2) a new design agreement between MSW and Broward, 3) entering into exclusive negotiations with Omni Hotels and Resorts as the preferred hotel operator (flag) for the Convention Center Headquarters Hotel and 4) directing the County Attorney to prepare the ordinance documents necessary to levy the 6th penny of the local bed tax.
Direction is sought from the DPA as to the financing approach for the Convention Center Expansion, which utilizes Tourist Development Taxes, and the Headquarters Hotel, which relies on the performance of the hotel and could utilize the resources of the Developer's equity partner and the County.
Staff will provide the DPA with a presentation on the Convention Center Expansion and the Headquarters Hotel projects which focuses on the anticipated project costs and financing alternatives for the two major components of the projects.
Determining project financing is an important milestone for this project. This will be followed in the next few months with a presentation on a new design for the Convention Center Expansion. Following design approval the next milestone will be consideration and approval of the Comprehensive Development Agreement with MSW. |