TO: CRA Board of Commissioners
FROM: Ashlyn Darden, Legal Advisor
THROUGH: Renée A. Jadusingh, Executive Director
DATE: December 12, 2023
Title
RESOLUTION NO. 2023-08 - AGREEMENT FOR PURCHASE AND SALE - 111 NW 11TH AVENUE - $275,000.00
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Recommended Action:
Recommendation
Approve Resolution No. 2023-08 and the Agreement for Purchase and Sale with Be Like Brit Foundation, Inc., for the CRA purchase of property at 111 NW 11th Avenue, with a purchase price of $275,000.00, in substantially the attached form, and authorize the CRA’s Chair, Executive Director and legal counsel to execute any and all related documents to facilitate the above action(s).
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Background:
The Subject Property is located in the Northwest Neighborhood at 111 NW 11th Avenue, Delray Beach, Florida (CRA Sub-Area #4). The Subject Property is a vacant lot that is approximately 11,495 sq. ft. and zoned R-1-A, Single Family Residential. The Subject Property is owned by Be Like Brit Foundation,
Inc. (“Seller”).
Recently CRA staff learned that 111 NW 11th Avenue was for sale for $314,900. Staff contacted the Sellers realtor and staff ordered an appraisal of the Subject Property. On November 14, 2023, the Subject Property was appraised by Barrett Valuation Services, LLC and returned a market value of $320,000, however the survey reflects that the building on the Subject Property encroaches on the neighbor's property and any sale of the Subject Property will be subject to a title exception. The building on the property also must be demolished as it is in disrepair. The Seller has agreed to sale the Subject Property to the CRA for $275,000 due to the title exception and the need to demolish the building on the property.
The CRA Community Redevelopment Plan, Part Three, Section I(D), p. 28, identities various needs within the CRA Sub-Area #4 and specifically states that “[n]ew housing construction, especially affordable, is needed to eliminate the large number of vacant lots within the area.” Acquisition of this lot is consistent with the CRA Community Redevelopment Plan.
Section 163.387(6)(c)(3) & (7), Florida Statutes expressly authorizes the redevelopment trust fund expenditure and annual budget of a CRA payment for the “acquisition of real property in the redevelopment area” and the “development of affordable housing within the community redevelopment area.”
At this time, Resolution No. 2023-08 and the Purchase and Sale Agreement with Be Like Brit Foundation, Inc.is before the CRA Board for approval, in substantially the attached form.
Attachments: Exhibit A - Resolution No. 2023-08; Exhibit B - Purchase and Sale Agreement; Exhibit C - Location Map; Exhibit D- Municipal Lien Search Report
CRA Attorney Review:
The CRA Attorney has prepared the attached Resolution No. 2023-08 and Purchase and Sale Agreement as to form and determined it is legally sufficient and acceptable.
Funding Source/Financial Impact:
Funding has been allocated from GL # 5610 Land Acquisition.
Overall need within the Community Redevelopment Area from Delray Beach CRA Redevelopment Plan:
Removal of Slum And Blight
Land Use
Economic Development
Affordable Housing
Downtown Housing
Infrastructure
Recreation and Cultural Facilities