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CITY OF RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD OF COMMISSIONERS AGENDA ITEM SUMMARY

Meeting Date:	1/13/2021
Agenda Category:

Subject:

RESOLUTION APPROVING THE PURCHASE AND SALES AGREEMENT FOR THE PROPERTY LOCATED AT 1851 BROADWAY

Recommendation/Motion:

STAFF RECOMMENDS APPROVAL OF THE PROPOSED RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY LOCATED AT 1851 BROADWAY, FINDING THAT THE STRATEGIC ACQUISITION IS IN FURTHERANCE OF THE CRA PLAN AND TO ACHIEVING THE FUTURE REDEVELOPMENT OF THE BROADWAY CORRIDOR.

Originating Dept	PLANNING & DEVELOPMENT	Costs
User Dept.	ADMINISTRATION	Funding Source	THE APPROVED 2020/2021 CRA BUDGET INCLUDES 1.5 MILLION DOLLARS FOR PROPERTY ACQUISITION. THESE DOLLARS ARE PROPOSED TO BE UTILIZED TO COMPLETE THE SITE ACQUISITION.
Advertised	No	Budget Account Number
Date
Paper
Affected Parties	Not Required

Background/Summary:

THE RBCRA STAFF IS REQUESTING APPROVAL OF A RESOLUTION TO AUTHORIZE THE PURCHASE OF 1851 BROADWAY FOR 1.2 MILLION DOLLARS. THE PROPERTY IS THE EXISTING SITE OF THE "MIAMI SUBS" RESTAURANT. THE MIAMI SUBS RESTAURANT IS VACATING THE PROPERTY IN JANUARY, AND THE CRA IS REQUESTING TO CLOSE ON THE VACATED PROPERTY FOLLOWING THE CRA'S DUE DILIGENCE PERIOD.

Fiscal Years
Capital Expenditures
Operating Costs
External Revenues
Program Income (city)
In-kind Match (city)
Net Fiscal Impact
NO. Additional FTE Positions (cumulative)


III. Review Comments

A. Finance Department Comments:

B. Purchasing/Intergovernmental Relations/Grants Comments:

C. Department Director Review:

Contract Start Date
Contract End Date
Renewal Start Date
Renewal End Date
Number of 12 month terms this renewal
Dollar Amount
Contractor Company Name
Contractor Contact
Contractor Address
Contractor Phone Number
Contractor Email
Type of Contract
Describe

ATTACHMENTS:
File Name	Description	Upload Date	Type
Memo.Purchase___Sales_Agreemetn_for_property_located_at_1851_Broadway.pdf	MEMO	1/6/2021	Cover Memo
Resolution.PurchaseAgreement.MiamiSubs.pdf	RESOLUTION NO 2021-02	1/6/2021	Resolution
RBCRA_Agreement_for_sale_and_purchase_parcel_(Miami__Subs).pdf	SALE & PURCHASE AGREEMENT	1/6/2021	Agreement
AndersonCarr_Sept2020.pdf	APPRAISAL-ANDERSON & CARR	1/6/2021	Backup Material
CallawayAppraisal_Sept2020.pdf	APPRAISAL-CALLAWAY & PRICE	1/6/2021	Backup Material

REVIEWERS:
Department	Reviewer	Action	Date
CRA	Evans, Scott	Approved	1/6/2021 - 6:07 PM
CRA Internal Review	Evans, Scott	Approved	1/6/2021 - 6:08 PM