(a) The City Commission shall not utilize eminent domain powers to acquire privately owned residential real property for economic development purposes or to acquire privately owned residential real property for transfer to a private entity for economic development purposes.
(b) The City Commission may acquire property within or outside the corporate limits of the City for any municipal purpose, in fee simple or any lesser interest or estate, by purchase, provided such amount of expenditure for real property shall not exceed twenty- five (25%) percent of the current annual fiscal budget of the City. The City Commission, may, through proper procedure, propose, undertake and finance capital improvement projects to fulfill the necessary needs of the City, provided that the amount of total expenditures including the cost of all financing for all such projects shall not exceed twenty-five (25%) percent of the current annual budget of the City in any one fiscal year. In the event that the proposed purchase(s) of property or total capital expenditure(s) do exceed the limit of twenty-five (25%) percent of the current annual budget of the City in any one fiscal year and the City has not received federal, state or county funds specifically for the purchase of such property(s) or for financing of such capital improvement project(s), then a referendum will be held of the qualified electors of the City of Pembroke Pines, Florida, and it shall require a majority of those voting in such election to authorize such projects. This referendum requirement may be waived, however, if the City Commission by a four-fifths (4/5ths) vote of its members finds and declares that an emergency exists, and that there is a threat to the health, welfare and safety of the citizens of the City.
(Adopted by electorate, 3-13-84; Amendment adopted by electorate, 11-6-84; Amendments adopted by electorate, 11-7-06; Amendment adopted by electorate, 11-6-12)