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File #: 18-0609 CRA    Version: 1 Name:
Type: CRA Contract Status: Agenda Ready
File created: 6/16/2020 In control: Community Redevelopment Agency
On agenda: 6/23/2020 Final action:
Title: PURCHASE AND SALE AGREEMENT - Delray Beach Community Land Trust -102 NW 14th AVENUE AND 1311 NW 14th AVENUE
Attachments: 1. Agenda Cover Report, 2. Exhibit A - Resolution No. 2020-02, 3. Exhibit B - Purchase and Sale Agreement, 4. Exhibit C - Repurchase Agreement, 5. Exhibit D - Delray Beach Community Land Trust Proposal, 6. Exhibit E - Location Maps and Photos
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: CRA Board of Commissioners
FROM: Christine Tibbs, Assistant Director
THROUGH: Renée A. Jadusingh, Esq., CRA Executive Director
DATE: June 23, 2020
Title
PURCHASE AND SALE AGREEMENT - Delray Beach Community Land Trust -102 NW 14th AVENUE AND 1311 NW 14th AVENUE

Body
Recommended Action:
1. Approve Resolution No. 2020-02 for the Purchase and Sale Agreement (Agreement) with the Delray Beach Community Land Trust for the conveyance of 102 NW 14th Avenue and 1311 NW 14th Avenue in accordance with the terms and conditions specified in the Agreement; and

2. Authorize the CRA Board Chair to execute any and all documents related to the transaction.

Body
Background:
At the May 26, 2020, CRA Board meeting, the CRA Board considered and accepted the Delray Beach Community Land Trust (CLT) proposal to purchase two (2) CRA-owned properties located at 102 NW 14th Avenue and 1311 NW 14th Avenue for $5000.00 for each property (for a total purchase price of $10,000.00) and directed CRA Staff and CRA Legal Counsel to draft the Agreement.

The subject properties, detailed in the below chart, will be restricted for workforce housing, pursuant to Article 4.7 of the City’s Land Development Regulations (Family/Workforce Housing Ordinance).



The Agreement comes after the CRA publicly notified its intent to dispose of the properties on March 6, 2020, and such notice was posted for the requisite 30-day period, in accordance with Florida Statutes Section 163.380(3)(a). Aside from the CLT’s proposal, no other proposals were timely submitted.

The Agreement includes the following conditions:

1. The CLT will construct one (1) three (3) bedroom, two (2) bathroom single family home with an enclosed two (2) car garage based on the elevation and floor plan submitted with its proposal dated March 13, 2020.

2. The property will be subject to a Repurchase Agreement.

3. The property will be made available to CLT’s first-time mortgage ready homebuyer applicants.

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