ORD Approp $693,035.89 from the General Fund Operating Budget Stabilization Contingency Account to the Downtown Economic Dev Fund Shipyards/Iguana Completion Grant 2022-871 - Misc Grants & Aids Acct, to Prov Funding for the Remaining Bal Needed to Fully Fund the Completion Grant Previously Authorized by Ord 2022-871-E, as Amended by Ord 2025-815-E, for Dev of a Luxury Hotel & Office Bldg Improvements on the Northbank Riverwalk in Downtown (Staffopoulos) (Introduced by CM Salem) (Co-Sponsor CM Lahnen) 2/10/26 CO Introduced: NCSPHS, F 2/17/26 NCSPHS Read 2nd & Rerefer 2/18/26 F Read 2nd & Rerefer Public Hearing Pursuant to Ch. 166, F.S. & C.R. 3.604 - 2/24/26

This ordinance appropriates $693,035.89 from the General Fund Operating Budget Stabilization Contingency Account to the Downtown Economic Development Fund Shipyards/Iguana Completion Grant 2022-871. This funding is to cover the remaining balance needed to fully fund a previously authorized grant (Ord. 2022-871-E, as amended by Ord. 2025-815-E). The grant supports the development of a luxury Four Seasons hotel (approx. 176 rooms), approximately 25 condominium units, and a Class A office building with at least 141,300 gross square feet on the Northbank Riverwalk in Downtown. The total grant amount is $25,834,887.

Key Details:

• Funding Source: General Fund Operating Budget Stabilization Contingency Account
• Recipient Fund: Downtown Economic Development Fund Shipyards/Iguana Completion Grant 2022-871
• Total Grant Amount: $25,834,887
• Project: Luxury hotel, condominium units, and office building improvements.
• Location: Northbank Riverwalk in Downtown.
• Introduced By: CM Salem
• Co-Sponsor: CM Lahnen
• Key Dates: Introduced 2/10/26, Public Hearing 2/24/26.