03/23/1989 (2)
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COMMUNITY REDEVELOPMENT AGENCY MEETING
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March 23, 1989
The Community Redevelopment Agency (CRA) of the City of Clearwater met at
City Hall, March 23, 1989, at 3:50 P.M. I with the following members present:
Rita Garvey
James Berfield
Lee Regulski
Don Winner
William Nunamaker
A~s~ present were:
, Ron H. Rabun
M. A. Galbraith, Jr.
, Cynthia E. Goudeau
Richard Fitzgera~d
Ch,airpcrson
, Member
Member
Member
Member
Executive Director
City Attorney ,
Secretary
Member-Elect
, 'The Chairman of the Community Redevelopment Agency (eRA) called the meeting
to.order and ,the following items were discussed. " ' , '
Sale of BilQore Property to H&G Structures
(,. ' At the Community Redevelopment Agency meeting of March 10th, the Agency
t;.," had indicated a,willingness to complete the negotiations with H&G Structures
for their purchase of the Bilgore Property, adding two additional clauses: 1)
Construction not begin until there is at least 50% presales and 2) the CRA
receive a 11 of its money when two thirds of the un its are c lo'sed. H&G8tructures
have accepted the additlonal two conditions. '
Concerns were raised and discussion ensued regarding various ways of
protecting the City shou 1 d the project not reach co'mp 1 et i on . Mike Wr i ght,
Ass i stant. City Manager, suggested an agreement that provided for a purchase
price of $400,000 with $50,000 on closing, the remaining $350,000 to be paid on
a pro rata share which would allow the City to recoup the entire amount by the
time there is closing on two thirds of the units. There ,will be a two year time
frame in which construction must begin. Should H&G Structures back out of the
project in one year, they would receive one half of their deposit, should they
back out anytime. after a year, the City would keep 100% of the deposit. The
purchase would not be 'assignable and there will be a provision that the units
can not be taken off the tax rolls. There will be a guarantee of payment for
the land, if two thirds of the units are not, closed within three years of the
commencement of construction.
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March 23, 1989
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A concefn was r~ise~ regarding thefi~pact or the ramifications, should,'a
1 it,igation 'on the property take place. It, was suggested H&G. Structures be
allowed 'to work with Mike Wright ,in deve10ping an acceptable contract.
Member Nunamaker, moved to approve.the conceptual framework as outlined by
the Assistant City Manager and staff come back to, the Agency with a contract for'
approval. The ,motion was duly second~d and carried unanimously.
The meeting ~djourned at 4:20 p.m.
Attest:
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" ",s~cretary , ' , ,
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March 23, 1989
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