Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-GFC-02, Authorizing the President or the CEO to Enter into and Execute 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, Community Redevelopment Agency
Executive Summary:
The development within the 7.36 +/- acre site at the northeast corner of SW Village Parkway and the future Destination Way includes a 52-bed Medical (specifically inpatient rehabilitation hospital) and Post-Acute Medical Facilities, together with up to 40,000 square feet of office and veterinary hospital or clinic uses.
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 Purchase and Sale Agreement with Tambone Companies, LLC.
Alternate Recommendations:
1. Move that the Board amend the recommendation and approve the Resolution and authorize the execution of the Purchase and Sale Agreement with Tambone Companies, LLC.
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 7.36+/- acres at the northeast corner of SW Village Parkway and the future Destination Way. GFC Staff paused on consideration for the site until such time as the roadway design and impending construction of Destination Way was nearing completion. During this time, Tambone considered new uses for the site, which resulted in the PSA being presented to the Board today. The development within the 7.36 +/- acre site includes a 52-bed Medical (specifically inpatient rehabilitation hospital) and Post-Acute Medical Facilities, together with up to 40,000 square feet of office and veterinary hospital or clinic uses.
Issues/Analysis:
The terms of the Pu...
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