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File #: 18-0036 CRA    Version: 1 Name:
Type: CRA Contract Status: Agenda Ready
File created: 7/6/2018 In control: Community Redevelopment Agency
On agenda: 7/12/2018 Final action:
Title: PURCHASE AND SALE AGREEMENTS - Delray Beach Community Land Trust -Purchase Five (5) CRA-Owned Residential Properties
Attachments: 1. Agenda Cover Report, 2. Exhibit A - DBCLT Letter of Interest- Map, 3. Exhibit B - DBCLT Reso for PS Agreement - 5 Parcels, 4. Exhibit C - Purchase and Sale Agreement (237 NW 5 Ave) (00238682xC4B6A)
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: CRA Board of Commissioners
FROM: Krista Walker, Contract Manager
THROUGH: Jeff Costello, CRA Executive Director
DATE: July 12, 2018

PURCHASE AND SALE AGREEMENTS - Delray Beach Community Land Trust -Purchase Five (5) CRA-Owned Residential Properties

Recommended Action:
Approve Resolution No. 2018-12 for the Agreements for Purchase and Sale with Delray Beach Community Land Trust for conveyance of 229 and 231 SW 14th Avenue, 233 SW 14th Avenue, 237 NW 5th Avenue and a property on NW 8th Avenue in accordance with the terms specified in the agreements and authorize the CRA Chair to sign any and all documents related to this transaction.

At the May 7, 2018 CRA Board Meeting, the CRA considered the Letter of Interest from the Delray Beach Community Land Trust, Inc. of their Intent to acquire five (5) CRA-owned parcels to construct four (4) new single-family homes with the details listed below.

Address Acreage Property Control # Improvements Zoning Purchase Price Proposed Purchase Price

229 SW 14th Ave 231 SW 14th Ave 0.16 12434617190040081 12434617190040082 VACANT LOTS R-1-A (Single Family Residential) $70,000 $500 $500
233 SW 14th Ave 0.16 12434617190040090 VACANT LOT R-1-A $35,000 $1,000
237 NW 5th Ave 0.16 12434616010260170 VACANT LOT R-1-A $35,000 $1,000
NW 8th Ave 0.16 12434616010020220 VACANT LOT R-1-A $50,000 $1,000

The DBCLT’s request to acquire the properties from the CRA, includes the following conditions based on the attached proposal and any other terms deemed necessary by the CRA Board:

1. DBCLT will construct either one (1) or two (2)-story models, three (3) or four (4) bedroom, two (2) bathroom single family homes with enclosed one (1) or two (2) car garages with floor plans and elevations to be provided at a later date.

2. The properties will be made available to the DBCLT’s first time mortgage ready homebuyer applicants.

At the meeting, the CRA Board directed CRA...

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