7.c.
FPRA Regular Meeting - 5:05 p.m.
- Meeting Date:
- 05/14/2024
- Re
- King's Landing
- Submitted For:
- Nick Mimms
SUBJECT:
Approve 45-day extension for cure period under the default motion sent to Audubon Development, Inc. on March 21, 2024 regarding the King's Landing project to be coterminous with City Commission's decision on April 19, 2024.
SUMMARY:
At a Special City Commission Meeting on April 19, 2024, the City Commission approved Audubon Development's request to toll for 45 days, and otherwise suspend, the running of all deadlines associated with the Notice of Default issued by the City on March 21, 2024 with regard to the King's Landing project and development agreement.
Since this is a three-party agreement, the Fort Pierce Redevelopment Agency must also evaluate this extension.
Since this is a three-party agreement, the Fort Pierce Redevelopment Agency must also evaluate this extension.
RECOMMENDATION:
Approve the extension request to align with the City Commission's decision on April 19, 2024.
ALTERNATIVES:
Staff will proceed as directed by the FPRA Board.
RESPONSIBLE STAFF:
Sara K. Hedges, City Attorney
COORDINATED WITH:
Nicholas C. Mimms, City Manager/FPRA Director
Fiscal Impact
OTHER INFORMATION:
N/A
Attachments
- Notice of Default
- Audubon's Response to Notice of Default
- Letter from City Clerk re-City Commission's Extension Decision