TO: CRA Board of Commissioners
FROM: Christine Tibbs, Assistant Director
THROUGH: Renee Jadusingh, Executive Director
DATE: February 25, 2025
Title
RESOLUTION 2025-02 - APPROVAL OF PURCHASE AND SALE AGREEMENT WITH Habitat for Humanity of Greater Palm Beach County, Inc. FOR THE PURCHASE OF THE PROPERTY LOCATED AT 260 NW 9th AVENUE FOR THE CONSTRUCTION OF AFFORDABLE/WORKFORCE HOUSING
Body
Recommended Action:
Recommendation
1. Approve a Purchase and Sale Agreement with Habitat for Humanity of Greater Palm Beach County, Inc., for the purchase of one property approximately located at 260 NW 9th Avenue (Subject Property) for a total purchase price of $10,000 for the construction of affordable/workforce housing;
AND
2. Authorize the CRA Board Chair to execute the Purchase and Sale Agreement, and any related documents, in a form acceptable to the CRA Legal Counsel.
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Background:
On November 18, 2024, CRA Board meeting, the CRA Board awarded RFP CRA No. 2024-07 - the Disposition of the CRA-owned Vacant Properties for the Development of Affordable/Workforce Housing to the Habitat for Humanity of Greater Palm Beach County, Inc (Habitat).
The one Subject Property being sold to the Habitat is located within CRA Sub-Area 4 and is further described below:
|
Property Address |
Parcel Control Number (PCN) |
Zoning Designation and Legal Description |
|
260 NW 9th Avenue |
12434617250010320 |
R1A - Single Family Residential TOURIST NOOK DELRAY LT 32 BLK A |
Disposition of the Subject Property helps the CRA meet one of its core objectives of providing additional affordable/workforce housing opportunities within the CRA District. Furthermore, as identified in the CRA’s Redevelopment Plan, developing the Subject Properties would also fall in line with the redevelopment strategy for the residential neighborhoods north and south of West Atlantic Avenue (Northwest and Southwest Neighborhoods of The Set) which includes construction of infill single-family housing on vacant lots.
Since the time of award, CRA staff and Habitat staff have been working towards finalizing the Purchase and Sale Agreement. See Exhibit B.
OVERVIEW OF PURCHASE AND SALE AGREEMENT (PSA) TERMS:
• Total Purchase Price: $10,000 for the one (1) Subject Property
• Effective Date: Date that PSA is executed by all parties
• Inspection Period: 45 calendar days commencing from Effective Date
• Application Date: 30 calendar days after Inspection Period ends, CDC shall submit Building Permit Applications for one (1) single-family unit
• Closing Date: Within 30 calendar days of obtaining building permits for the one (1) single-family unit, the CRA and CDC shall close on the Subject Property
• Groundbreaking: Within 30 calendar days after the Closing Date, the CDC shall commence construction on the one (1) residential unit
• Completion Date: No later than 545 calendar days after the Effective Date of the Agreement, the CDC shall complete construction and obtain a certificate of occupancy for the one (1) residential unit
At this time, CRA staff is requesting the CRA Board:
1. Approve a Purchase and Sale Agreement with Habitat for Humanity of Greater Palm Beach County, Inc., for the purchase of one property approximately located at 260 NW 9th Avenue for a total purchase price of $10,000 for the construction of affordable/workforce housing;
AND
2. Authorize the CRA Board Chair to execute the Purchase and Sale Agreement, and any related documents, in a form legally acceptable to the CRA Legal Counsel.
Attachments: Exhibit A: Location Map; Exhibit B - Purchase and Sale Agreement; Exhibit C - Resolution 2025-02
CRA Attorney Review:
The CRA Legal Counsel drafted a Purchase and Sale Agreement in a form acceptable to CRA legal counsel.
Finance Review:
N/A
Funding Source/Financial Impact:
N/A
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