7.c.
FPRA Regular Meeting - 4:30 p.m.
- Meeting Date:
- 04/12/2022
- Re
- King's Landing Debris Removal
- Submitted For:
- Nick Mimms
SUBJECT:
Authorization to release the previously allocated $170,000 to Audubon Development for the commencement of debris removal on the former King Plant site.
SUMMARY:
On July 28, 2020, the Fort Pierce Redevelopment Agency Board approved Audubon Development's request to share in the cost of remediating buried concrete and debris removal at the former H.D. King Plant site. The Board agreed to place up to $170,000 of tax credit certificate proceeds into escrow to assist with the removal of the debris. Now that the site plan approval process is complete, staff is requesting to transfer $85,000 to Audubon Development immediately upon development permit issuance and the remainder will be provided upon completion of the remediation.
RECOMMENDATION:
Approval to release $170,000 for debris removal at the former H.D. King Plant Site.
ALTERNATIVES:
Staff will proceed as directed by the FPRA Board.
RESPONSIBLE STAFF:
Nicholas C. Mimms, City Manager/FPRA Director
COORDINATED WITH:
Shyanne Harnage, Economic Development Manager
Fiscal Impact
OTHER INFORMATION:
The $170,000 was allocated from the proceeds of the tax credit sale.