CITY OF LAUDERDALE LAKES
Agenda Cover Page Fiscal Impact: Yes Contract Requirement: Yes Title CRA RESOLUTION 2026-006 AUTHORIZING THE EXECUTION OF THE RESIDENTIAL PRESERVATION AND ENHANCEMENT PROGRAM AGREEMENT BETWEEN LAUDERDALE LAKES COMMUNITY REDEVELOPMENT AGENCY AND FORTUNE FIRST 51 LLC FOR AN AMOUNT NOT TO EXCEED THIRTEEN THOUSAND, SIX HUNDRED AND EIGHT DOLLARS ($13,608.00) RELATED TO THE PROPERTY LOCATED AT 3908 NW 30 TERRACE, LAUDERDALE LAKES, FL 33309 Summary This is a resolution approving the execution of an agreement with Fortune First 51 LLC to provide Residential Preservation and Enhancement Program funds upon completion of the Residential Preservation and Enhancement Program Project located at 3908 NW 30 Terrace, Lauderdale Lakes, FL 33309. Staff Recommendation Background:
The adopted Fiscal Year 2026 Community Redevelopment Agency (CRA) Budget includes funding for the Residential Preservation and Enhancement Program (RPEP). Essentially, this program requires a commitment from the property owner for private matching funds to be used for eligible exterior home improvements to the property. The release of funds occur only after project completion, verification of all work funded, verification of all payments to service providers and verification that local building permits are closed-out.
Fortune First 51 LLC, applicant, proposes to make improvements at 3908 NW 30 Terrace, Lauderdale Lakes, Florida 33309 totaling $17,010.00. Upon approval of RPEP requirements, the contributing funds from the Community Redevelopment Agency would not exceed $13,608.00.
This Resolution authorizes an agreement with the owner, Fortune First 51 LLC, and authorizes the release of funds upon fulfillment of the established program requirements. Funding Source:
Increment Revenue
Fiscal Impact:
The amount allocated is $13,608.00. Sponsor Name/Department: Celeste Dunmore, CRA Executive Director Meeting Date: 6/16/2026 |