7.a.
FPRA Special Meeting Agenda
- Meeting Date:
- 01/03/2017
- Re
- Review Offer to Purchase 1401 N 2nd Street
- Submitted For:
- Rebecca Grohall
SUBJECT:
Approve the offer to purchase 1401 N 2nd Street in the amount of $1,000,000 from Lotus Asset Management, LLC
SUMMARY:
Staff seeks approval for the Chair of the FPRA Board to execute the purchase agreement for real property located at 1401 N. 2nd Street. The purchaser proposes to use the facility to relocate a cosmetics manufacturing business that he owns from New Jersey, and operate as a sister facility to the one he owns in Lake Worth.
The CRA Advisory Committee reviewed this offer and scored it based upon the following criteria: Purchase Price, Scope of Work for Improvements to be made and timeframe, Uses proposed for facility, Job Creation/Economic Impact and Conformance with CRA Plan.
The CRA Advisory Committee is recommending Approval.
The CRA Advisory Committee reviewed this offer and scored it based upon the following criteria: Purchase Price, Scope of Work for Improvements to be made and timeframe, Uses proposed for facility, Job Creation/Economic Impact and Conformance with CRA Plan.
The CRA Advisory Committee is recommending Approval.
RECOMMENDATION:
Approval
ALTERNATIVES:
Approval of a Counter Offer for Purchase Price or Other terms of the Sale
RESPONSIBLE STAFF:
Rebecca Grohall, AICP
COORDINATED WITH:
Nicholas Mimms, PE City Manager
Tony Barnes, Purchasing Director
Linda Cox, City Clerk
Jim Messer, City Attorney
Tony Barnes, Purchasing Director
Linda Cox, City Clerk
Jim Messer, City Attorney
Fiscal Impact
- Budgeted Y/N:
- N
- Fiscal Year:
- 2017
OTHER INFORMATION:
$1,000,000
Attachments
- Offer
- Offer Attachment 1
- Offer Attachment 2
- Property Listing
- Comparable Market Analysis
- Appraisal
- Ranking
- Project Overview EDC