TO: CRA Board of Commissioners
FROM: Christine Tibbs, Assistant Director
THROUGH: Renee Jadusingh, Executive Director
DATE: April 30, 2025
Title
RESOLUTION NO. 2025-07 - APPROVAL OF PURCHASE AND SALE AGREEMENT FOR 216 NW 8th AVENUE FOR $147,000
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Recommended Action:
Recommendation
1. Approve Resolution No. 2025-07 and the Purchase and Sale Agreement with Frederick Tackey for the purchase of one property approximately located at 216 NW 8th Avenue (Subject Property) for a total purchase price of $147,000, in substantially the attached form.
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:
The Subject Property is located within the Northwest Neighborhood (CRA Sub-Area #4) at 216 NW 8th Avenue, Delray Beach, Florida. The Subject Property is a R-1-A Single Family Residential vacant lot that is approximately 5,662 sq. ft.
Acquisition of the Subject Property would support the CRA’s objectives to increase the affordable/workforce housing stock within the CRA District as outlined in the CRA’s Community Redevelopment Plan.
The Subject Property was listed for sale for $147,000. Subsequent to seeing the real estate listing, CRA staff obtained an appraisal that returned a market value of $210,000. The Seller has agreed to accept the listing price of $147,000.
At this time, CRA staff is requesting the CRA Board:
1. Approve Resolution No. 2025-07 and the Purchase and Sale Agreement for the purchase of one property approximately located at 216 NW 8th Avenue for a total purchase price of $147,000, in substantially the attached form;
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 2025-07
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