TO: CRA Board of Commissioners
FROM: Jeff Costello, CRA Executive Director
DATE: December 11, 2018
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DISCUSSION - NORTHWEST 600 BLOCK WEST ATLANTIC AVENUE - DEVELOPMENT PROPOSALS
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Recommended Action:
Recommendation
By Separate Motions:
1. Direct CRA staff and General Counsel to enter into negotiations and prepare a Ground Lease Agreement, pursuant to the Land Value Investment Incentive Program for the CRA-owned properties located at 20 and 26 NW 6th Avenue with Hatcher Construction and Development, Inc., which will require the publication of a thirty (30) day Notice as required by Florida Statutes Chapter 163.380(3)(a).
2. Direct CRA staff and General Counsel to enter into negotiations and prepare a Purchase and Sale Agreement based on the appraised value to the CRA-owned properties located at 9, 27, 31 NW 7th Avenue and 618 NW 1st Street to Edron, LLC, which will require the publication of a thirty (30) day Notice as required by Florida Statutes Chapter 163.380(3)(a).
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PROPOSAL FROM EDRON, LLC:
At the September 11, 2018 CRA Board Meeting, a proposal to redevelop the CRA-owned properties in the NW 600 Block of W. Atlantic Avenue was presented to the Board. The item was tabled until after the CRA’s non-profit housing partners made presentations to the CRA Board, which occurred on November 13, 2018.
Background:
For many years the CRA has acquired/assembled property along the West Atlantic Avenue corridor to assist in the redevelopment of the area. Within the northwest 600 Block located on the north side of West Atlantic Avenue, between NW 6th and 7th Avenues, the CRA has acquired approximately 1.25 acres (7 lots), with no frontage on West Atlantic Avenue (see attached map - Exhibit “A”). Two (2) of the lots are zoned CBD (Central Business District) and five (5) are zoned R-1-A (Single Family Residential). The lots are primarily vacant, except 34 NW 6th Avenue, which contains a currently leased 1,296 square foot single family home.
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