TO: Mayor and Commissioners
FROM: Lynn Gelin, City Attorney
DATE: May 17, 2022
Title
APPROVE THE RESTRICTIVE COVENANT MASTER AGREEMENT BETWEEN THE CITY OF DELRAY BEACH AND TRG DELRAY BEACH CONGRESS LLC
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Recommended Action:
Recommendation
Motion to Approve the Restrictive Covenant Master Agreement Between The City Of Delray Beach And TRG Delray Beach Congress LLC.
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Background:
On November 20, 2020, the City Commission, adopted Ordinance 32-20, establishing a new Special Activities District (SAD) known as Aura Delray Beach. As part of the approval, TRG Delray Beach Congress LLC (“TRG”) is required to record a Declaration of Restrictive Covenant identifying 25% of the units as Workforce Housing. TRG proposes to offer 73 residential units as moderate-income workforce units to be rented to Eligible Occupants. The rental units will remain restricted for a period of forty (40) years.
City Attorney Review:
Approved as to form and legal sufficiency.