9/9 FRI 09:30 | Financing Public Waterfront Access - Jupiter

FAPA Conference 2011

Financing Public Waterfront Access and

Enjoyment: Jupiter, a case study


How would we feel if our

“special places” were lost?


“Make No Small Plans”

• Concerned with the

potential loss of

public access to the

water, the Council,

the Town decided to

reject a plan for

public access on one

parcel and focus on

the entire Intracoastal

and Inlet.

Aerial view of vacant lands along US1


Goal: Provide physical and

visual access to the waterfront.

Aerial view of vacant lands along US1


The Town implemented a series of public workshops and hired consultants to study the feasibility and develop a corridor map that would show the alignment and develop a cost estimate of the improvements.

Inlet Village Vision- “Funky Village”


Result:

Riverwalk

Plan


Riverwalk- phase 1

New Development, Intracoastal

access to nature

Phase 2 - Inlet Village

“funky village”, small scale,

infill


Linear Recreation Corridor with a

Variety of Experiences:

• Jupiter Ridge Natural Area

• Residential, mixed use

• Entertainment District

• Inlet Village


How do we

accomplish the goals.

• Providing for the

easement of a

Riverwalk on private

and public land.

• Providing funding.

• Creating the

Comprehensive Plan

polices and zoning

regulations.


Create a working relationship with

property owners and environmental

agencies.


And You Want How Much??

1998 Riverwalk

Estimated Funding Needs…………….$26 million

Estimated Developer Commitment…………….$4.65 million

(3 projects)

Estimated Public Funding …………………$ 21.35 million

(Town of Jupiter and other Public agencies)


Funding Challenges - Sources

• Grants

Federal, State,

(i.e. rec., transp.)

FIND- Florida Inland

Navigation District

• Palm Beach County

• State Appropriation

Request

• CRA TIF (tax increment

financing)

• Land swaps

• CDD -Community

Development District

• Special assessments

• Shared amenities with

• shared costs

• EB-5 funding program

• Thru LDRs

Incentives for amenities

Incentives for RW ded.

Require RW easement


Implementing the plan


Strategic land purchases.

Comerford (bridging the gap)

First Union property in Entertainment District from FDOT exchange

Piatt Place

Town 2 acres in Inlet Village (parking)

Inlet Village Marina

ROWs (Lighthouse Promenade, Clemons, Love, that dead end into water)

Future purchases that will help make area/redevelopment a reality



The Vision

Financing Public

Waterfront Access


• The Mayor’s vision of providing public access to Jupiter’s waterways and the Jupiter Inlet, based, in part, on Jupiter’s history as a fishing village.

• This concept began in the mid 1990s close in time to the emphasis of visioning in the planning profession, and amendments to Chapter 163, the Growth Management Act.

• Section 163.3167(11), Florida Statutes:

Each local government is encouraged to articulate a vision of the future physical appearance and qualities of its community as a component of its comprehensive plan.

Financing Public

Waterfront Access


• The “Riverwalk” became

the vehicle for the

delivery of the vision of

public access to Jupiter’s

waterways.

• The Riverwalk vision was

then incorporated into the

Town’s Comprehensive

Plan in the form of

Objectives (1.9 and 1.10)

and Policies.

Incorporating the “Riverwalk” into the

Comprehensive Plan:


• The Policies provide that the Riverwalk Objectives and Policies which provide for public access would be implemented by LDRs to be applied to developing and re-developing properties. Among other things, the LDRs require property owners to provide:

1. Vistas of the Intracoastal Waterway (ICW)

2. Public open spaces & squares

3. Waterfront orientation for development

4. A publically accessible walkway along the ICW through a requirement to dedicate a 25 foot Easement.


• The requirement to dedicate open space, greens, vistas

and particularly an easement by waterfront property

owners was and still is the subject of some controversy.

• To put this controversy into context, consider that

immediately preceding the development of the Riverwalk

Objectives, Policies and LDRs, the U.S. Supreme Court

rendered its opinion in the “takings” case of Dolan v. City

of Tigard. The facts in this case gave the Town reason to

pause.

Legal Issues


• As a result of policies and LDRs adopted by the City of Tigard, a city approximately the same size as Jupiter at the time of this litigation, Mrs. Dolan was required to dedicate a portion of her property so that the City could create a bicycle/pedestrian pathway. This dedication was a condition of receiving a building permit to expand her business. The U.S. Supreme Court held that there was not a sufficient “nexus” between the City’s dedication requirements and the expansion of Mrs. Dolan’s plumbing and business.

• As a result, the question posed to me was,

“Can you defend the requirement for a Riverwalk?”

DOLAN


My Answer:

GULP, Maybe!?!


• To avoid a takings claim, the Town set out to develop a nexus between the Riverwalk and the development or redevelopment of properties.

• The Town sought to create a nexus by increasing the value of properties located along the Riverwalk corridor in exchange for the provision of opens space, vistas, and the dedication of an Easement.

• An incentive program was developed, including development intensity and density bonuses.

• Concerns for liability has led some property owners to dedicate the land in fee rather than to convey by easement.

• Conveyance of the fee also provides a property owner with a modest tax savings.


Has it worked?

Yes.

More on that from the speakers who follow.


Creation of a Community

Redevelopment Agency

• The Town wanted a dedicated funding source to construct the Riverwalk and its amenities upon the properties being dedicated for the Riverwalk.


Creation of a Community

Redevelopment Agency

• A planning visionary, Sam Shannon, who was the Town’s Community Development Director at the time proposed the creation of a CRA.

• Problem: Most people did not see Jupiter as a community that has a need for a CRA, particularly for the redevelopment of water front properties.


• In order to create a

CRA, certain legislative

findings must be made.

In particular, there

must be a finding and

the Town Council had

to declare that:

Finding Slum and Blight in

Jupiter


• A portion of Jupiter could be considered a “slum and blighted area which constituted a serious and growing menace”; that the existence of such area contributes …to the spread of disease and crime; constituted an economic and social liability imposing onerous burdens which decrease the tax base; substantially impairs or arrests sound growth; aggravates traffic problems, and substantially hampers the elimination of traffic hazards and the improvement of traffic facilities”


REALLY, IN JUPITER ?!?

SERIOUSLY ?!? Along the

waterways of Jupiter?


Undaunted, the Council

directed staff to proceed.


• The Council’s findings of necessity for the CRA

concentrated on that portion of the definition of

“blighted” which involved traffic problems.

• It worked: The CRA was created and continues

today as the funding source for Riverwalk.


• As you will learn from the speakers who

follow, the vision has been a long term

project; a mosaic of properties woven

together along a 2 ½ mile historical

waterway corridor.

Conclusion


Brenda Arnold

CRA Program Manager

http://www.aicw.org/index.jsp

http://www.fhwa.dot.gov/

http://upload.wikimedia.org/wikipedia/en/b/b0/FDEPlogo.jpg


Riverwalk Funding Sources

50% from Grants & Federal Appropriation:

FL Inland Navigation District

Federal DOT Enhancement

FL Dept. Environmental Protection

Federal Appropriation

40% from Developer Contributions

10% from CRA/Town of Jupiter


CRA Dollars Fund:

- Riverwalk Construction on Existing Development

- Riverwalk Construction on Delayed Development

- Purchasing Key Properties

- Acquisition & Construction of Public Gathering Spaces

- Riverwalk Amenities

* Riverwalk Events

* Sponsors

* Holiday Boat Parade - Taste of Tropics – Art Shows


Construction of Riverwalk on Existing Development

•River Plaza

•Best Western

•Jupiter Ridge Natural Area


Construction of Riverwalk on Existing Development

Best Western

River Plaza

Jupiter Ridge Natural Area


Construction of Riverwalk on Delayed Development

• Water Pointe

• Harbourside


Construction of Riverwalk on Delayed Development

Harbourside

Water Pointe


Purchasing Key Properties

• First Union Bank Building

• Piatt Place

• Love Street Lot

• Inlet Village Park


Purchasing Key Properties

Inlet Village Park

First Union Bank Building

Piatt Place

Love Street Lot


Acquisition & Construction of

Public Gathering Spaces

Inlet Village Park

Events Plaza

Lagoon Bridge


Riverwalk Amenities

Water Taxi Dock

Parking

Public Boat Slips

Riverwalk Amenities


Riverwalk Events


Jupiter’s long awaited REDEVELOPMENT project….

Allied Capital & Development


Public Access

Part of the Riverwalk

Passive Recreational Uses

Walking

Running

Biking


PROJECT

SITE

8.96 ACRES

US-1

Indiantown Road Bridge


Ov

eral

l S

ite

& P

rog

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Bre

akd

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n

USE FINAL

1. Restaurant Space 34,855 S.F.

2. Retail Space 55,256 S.F.

3. Office Space 58,791 S.F.

4. Hotel 178 Keys

5. Marina Slips 31 Slips total (22 Leased & 9 Public daily transient)

6. Ancillary Cultural Use 2,500 S.F. 2,500 S.F.

Parking

Garage Building 5 503 spaces

Garage Building 3A 349 spaces

Building 1 0

Surface 77 spaces

929 spaces



Ov

eral

l S

ite

& P

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Bre

akd

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n

Site Acres 8.96 acres

Riverwalk Length 920 l.f.

FAR 0.63 FAR

Land Use Commercial

Zoning U.S. One/ Intracoastal Waterway

Corridor Zoning District/

Waterway Commercial and

entertainment subdistrict


Site Plan approved December 2008

Architectural Site Plan Approval December 2010










1. Public Plaza Adjacent To Riverwalk 6 credits

2. Public Restrooms 12 credits

• Building 1 4 Stall Minimum 4 points

• Building 3B 4 Stall Minimum 4 points

• Building 5 4 Stall Minimum 4 points

3. Fountain On The Riverwalk 4 credits

4. Three Additional Vistas 12 credits

5. Nine (9) Public Dock Spaces 18 credits

6. Cultural Use – Amphitheater 2 credits

7. Public Parking Spaces 23 credits (1/2 Credit per space – 46 spaces)

8. Cultural Use (2,500 s.f.) 3 credits

Total Points Earned 80 pts.


Bonus Credits

1

3

4

4

5

6

2 2 4

7 7

8

4

4

FAPA Conference 2011 Main Entertainment Plaza (Looking Southeast)

FAPA Conference 2011 Northeast Corner (Looking Southwest)

Building 3B Current



The Florida Regional Center

Each year, the U.S. government reserves 3,000 green cards for foreign

investors who invest in designated regional centers through the EB-5 Visa

Program. These initiatives enjoy full government support as they stimulate

the economy, generate at least ten jobs per investment, and promote

community development while providing direct access to green cards for

foreign investors and their families.

The Florida Regional Center has received full approval as a designated

regional center by the United States Citizenship and Immigration Services

(USCIS), this highly-anticipated initiative has been garnering great interest

worldwide for the wealth of development opportunities in the prime paradise

of Florida.

EB-5 Program


Immigration &

Investment

Process

Overview

Florida Regional Center


Immigration &

Investment

Process

Overview


Immigration &

Investment Process

Overview


Town Council 10.19.10

Funding Schedule

Estimated Funding Schedule Harbourside Place The Florida Regional Center

29-Sep-10

Proposed Funding Schedule Sep

-10

Oct-

10

No

v-1

0

Dec-1

0

Jan

-11

Feb

-11

Mar-

11

Ap

r-11

May-1

1

Ju

n-1

1

Ju

l-11

Au

g-1

1

Sep

-11

Oct-

11

No

v-1

1

Dec-1

1

Jan

-12

Feb

-12

Mar-

12

Ap

r-12

May-1

2

Ju

n-1

2

####

Florida RC Approved Sept 14th, 2010

Begin Marketing Harbourside Investment

Korean Immigration Expo

China - multiple cities

Number of Investors Per/Month 5 8 10 10 15 15 15 15 15 15 15 15 15 12 180 180

Funds Avail by Mnth following 90 day process 2.5M 4M 5M 5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 7.5M 6M 90M

Owners Equity Currently Invested $11.2M

First Phase of Investor funding $25 M

Proof of Financing, payment of $150,000.00 Dep

Close on TOJ First Union property $2.5M

Second Phase of Investor Funding $30M

Third Phase of Investor Funding $30M

CDD Bond Proceeds Available $22M

Final Investor Funding $ 5M

Bank Finnacing $21M

FIND Grant Funding $1.685M

Total Funding $145.8M

Proposed Construction Schedule

Mobilization

Land Clearing

Seawall Intallation

Riverwalk Installation

Town Dock Installation

Underground Utilities

Buildings 1 & 2 Start

Buildings 1 & 2 Completion

Ampitheatre and Fountain Installation

Buildings 3 & 5 Start

Buoldings 3 & 5 Completion

Paving, Landscaping.

Building 4 Start

Building 4 Completion


FAPA Conference 2011 Funding Schedule

Investors from the following countries

China

Mexico

Russia

Norway

India

Vietnam

Australia


• Pictures of construction

• Talk about find grant and loan to

developer

Looking North




Conclusion Questions and answers


Questions?

Date post:	19-Jan-2015
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9/9 FRI 09:30 | Financing Public Waterfront Access - Jupiter

Technology