Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-GFC-05, Authorizing the President or the CEO to Enter into and Execute the First Amendment to a Purchase and Sale Agreement for 7.36+/- Acres of Land between the Port St. Lucie Governmental Finance Corporation and Tambone Companies, LLC.
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Submitted By: Jennifer Davis, Director of Community and Economic Development
Executive Summary (General Business):
In March 2026, the Governmental Finance Corporation (GFC) Board authorized the execution of a Purchase and Sale Agreement (PSA) on 7.36+/- acres of land known as Lot 1 in Southern Grove Plat 46 for the purpose of developing up to medical and post-acute medical facilities, together with office and veterinary hospital or clinic uses. The PSA indicated a 52-bed medical facility, but the development is intended to have 54 beds. The First Amendment to the Purchase and Sale Agreement is being presented for Board consideration to account for the additional two (2) hospital beds to be entitled as part of the transaction as well as clarification of responsibilities related to stormwater design costs.
Presentation Information: Staff will provide a brief presentation, if requested.
Staff Recommendation:
Move that the Board approve the Resolution and authorize the execution of the First Amendment to the Purchase and Sale Agreement.
Alternate Recommendations:
1. Move that the Board amend the recommendation and approve the Resolution and authorize the execution of the First Amendment to the Purchase and Sale Agreement.
2. Move that the Board not approve the Resolution and provide staff with additional direction.
Background:
Tambone Companies approached the Governmental Finance Corporation (GFC) to develop the 7.36+/- acre parcel at the northeast corner of SW Village Parkway and the future Destination Way. Tambone proposed the development within the 7.36 +/- acre site to include a Medical (specifically inpatient rehabilitation hospital) an...
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