TO: CRA Board of Commissioners
FROM: Christine Tibbs, Assistant Director
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: January 26, 2021
Title
FOURTH AMENDMENT TO THE PURCHASE & SALE AGREEMENT WITH BH3 MANAGEMENT, LLC - DEVELOPMENT OF SW 600-800 BLOCKS OF WEST ATLANTIC AVENUE
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Recommended Action:
Recommendation
Discuss and approve or disapprove the Fourth Amendment to the Purchase & Sale Agreement, in substantially the attached form, by and between Delray Beach Community Redevelopment Agency and BH3 Management, LLC, dated April 22, 2019, related to the development of SW 600-800 blocks of West Atlantic Avenue.
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Background:
Following the April 9, 2019, CRA Board Meeting, where the CRA Board approved the Purchase & Sale Agreement (“Agreement”) for the SW 600-800 blocks West Atlantic Avenue Properties with BH3, the Delray Beach Community Redevelopment Agency (“CRA”) and BH3 Management, LLC (“BH3”) entered into the Agreement on April 22, 2019.
A First Amendment to the Agreement was approved by the CRA Board on August 13, 2019, to address additional information in the Purchase and Sale Agreement.
A Second Amendment to the Agreement was approved on November 19, 2019, to extend the Application Date, the date BH3 needed to submit their applications to the City of Delray Beach (“City”) and other applicable governmental entities for approval, by sixty (60) calendar days from November 18, 2019, to January 17, 2020.
A Third Amendment to the Agreement was approved on January 28, 2020, to allow the CRA to enter into a lease agreement with the Emanuel Jackson, Sr. Project, Inc. The Agreement and all Amendments are included within Exhibit C.
Future Land Use Map (FLUM) and Rezoning Amendments Approval:
On October 15, 2019, BH3 received final approval from the City amending the FLUM designation from Multiple Family Residential - Medium Density District to Central Business District and Zoning designation from Medium Density to Commercial ...
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