Currents
July 2016
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BEACH, FLORIDA:
SECTION 1. That The Shipwreck Park, Inc., is a
Florida not for profit corporation and
recognized tax exempt organization under Section 501(c)(3) of the Internal Revenue Code charged
with developing, managing and marketing underwater offshore reefs to be known as Shipwreck Park off
the coast of northern Broward County.
SECTION 2. That The Shipwreck Park, Inc. desires
to establish an artificial reef off
the
coast of Pompano Beach as a
significant economic development opportunity that will
increase tourism and tax dollars
and help make the City of Pompano Beach a world class tourist
destination.
SECTION 3. That the City of
Pompano Beach desires to provide The Shipwreck Park,
Inc. a total of $312,500 to be
used exclusively to develop, manage and market an artificial reef
off the coast of Pompano Beach
in accordance with all applicable
local, state and federal rules and
regulations.
SECTION 4. That the City's
Finance Director shall develop a
process to provide The
Shipwreck Park, Inc. the aforesaid funds, up to a total of
$312,500, on an as-needed basis
upon
The Isle will have the right to
rename the vessel and use it for
promotions, such as underwater
art and a casino table for photo
opportunities for divers. The
wreck will be located about a
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