Village at Gulfstream Park TIF Investment Negotiations & Structuring

The decision to assist the Village project during the darkest days of the financial crisis is widely viewed as one of the most strategically beneficial uses of TIF funding the city has undertaken. The Village at Gulfstream Park is now the centerpiece of the City of Hallandale Beach.

PROJECT SUMMARY

Forest City Enterprises, in conjunction with Magna Entertainment, planned the development of a more than 400,000 square foot mixed-use retail, entertainment, and office town center, residing adjacent to a casino in Hallandale Beach, a small coastal city in Broward County, Florida. With over 2,000 residential units, and hundreds of hotel rooms planned, the Village development aimed to become the town center for the small city and would set the standard for virtually every development to follow it for the next several decades.

Lambert Advisory was the primary consultant to the City of Hallandale Beach associated with the financial structuring and deal terms for City of Hallandale Beach’s CRA TIF funding used to support the multi-use development. Lambert set forth the parameters by which the City would invest it’s TIF dollars but in turn be able to recapture its investment based upon the development achieving certain performance benchmarks over a 20 year period. Lambert led direct negotiations with the developer on behalf of the City.