HOLLYWOOD — A towering 30-story luxury condo would take up residence on publicly-owned beachfront land for at least 99 years if Hollywood commissioners give the nod.

The city has yet to sign off on the deal, but Hollywood taxpayers — the true owners of the land — have been anxious to see details on what the developer is offering in return for the rights to build on a 4-acre parcel currently appraised at $35 million.

Answers came Wednesday during an afternoon meeting at City Hall.

The Related Group is offering $5 million in an upfront rent payment; $18 million to $20 million from sales of the 190 condos it plans to build; $150,000 to $300,000 a year from resales; and $400,000 in yearly rent payments that would increase based on the Consumer Price Index.

An earlier proposal would have had the developer paying the same rent — $400,000 a year over the entire 99 years — without a traditional rent escalator.

Hollywood would also collect $1.9 million in annual property taxes, city officials say.

Plans unveiled Wednesday show new renderings and a sleek tower 347 feet high, 18 feet less than the original proposal.

The Related Group plans to upgrade the property with a new two-story community center, a bigger park, a casual restaurant and renourished dunes.

If sales are sluggish, the developer plans to market the units as luxury rentals, said Eric Fordin, Related’s senior vice president. Fordin says an earlier plan to build 300 units has been dropped.

Top Hollywood officials, including City Manager Wazir Ishmael and City Attorney Doug Gonzales, say it’s a good deal.

Critics aren’t so sure.

The Related Group came to the city in March 2020 with a pitch to develop the land. Hollywood sought bids from other developers but chose to move forward with Related.

Hollywood resident Gabriela Neves questioned how that could be, noting three other developers had offered the city a better financial deal.

Mayor Josh Levy said the Related project was chosen for its upgrades, not the money.

Hollywood activist Cat Uden also spoke against the project.

“This is not New York City,” she told commissioners. “We should not have skyscrapers on the beach.”

If Hollywood allows a developer to build a 30-story condo on beachfront land, the city would inherit the condo tower at the end of the 99-year lease. Or the city could opt to renew the lease, commissioners were told Wednesday. (Arquitectonica/Courtesy)

The land, deeded to the city 47 years ago, is currently home to Harry Berry Park and the Hollywood Beach Culture & Community Center at 1301 South Ocean Drive.

The deed restriction requires the land be used for a park or other public purpose.

Commissioner Caryl Shuham, whose district includes the site, questioned whether that could block the project and was told no by staff.

What happens at the end of 99 years? she asked.

The city would either take possession of the condo tower or renew the lease, she was told.

Final approval of the deal is likely a few months away.

“We have tough decision to make,” Commissioner Traci Callari said before chastising critics for what she called toxic comments on Facebook. “We are never going to agree 100 percent, but we have to learn to compromise.”

Callari argued the project would upgrade that quiet section of beach south of Hollywood Boulevard, but wondered if the tower’s height could be lowered.

“I don’t want to look like Sunny Isles,” Callari said. “I don’t want to look like Miami Beach.”

Fordin said the Related Group just finished a project in Sunny Isles that stands 650 feet high.

“This is half that,” he said.

Under the latest plan, the tower would be built 515 feet from the beach and 208 from the neighboring Summit condo building.

But some prefer it not be built at all.

“Listen to your residents,” Uden told commissioners. “We don’t want this here. Please don’t put a high rise here. It’s not worth it, whatever revenue you’re getting. It’s not worth it.