More discussions on Fort Lauderdale Police Headquarters
From David Volz
Efforts are continuing on the proposed Fort Lauderdale Police Headquarters.
Fort Lauderdale City Staff provided a status update for the proposed Fort Lauderdale Police Headquarters project during a recent meeting.
They discussed additional funding options to make up for an anticipated shortfall. The initial $100 million bond was approved by voters almost 4 years ago, but the current total cost to build the new police headquarters is now an estimated $142 million. The $42 million in excess is due to the escalating costs of tangible and intangible goods associated with construction expenses i.e., material, equipment, furniture, and design.
Assistant City Manager Susan Grant presented options to acquire additional funding. Options include a 30-year or 27-year (preferred) special obligation bond that aligns with the timeline of the initial bonds’ maturity date or general obligation bonds that require a referendum and associated costs. A third option would be to develop land adjacent to the police station to help pay off the loan. Additionally, the police headquarters could potentially qualify for Transit Oriented Development Federal grants.
