Title of Item:
NEGOTIATE SALE OF STUART TRAILER TOWN (RC):
RESOLUTION No. 10-2019; A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF STUART, FLORIDA AUTHORIZING THE CITY MANAGER AND CITY ATTORNEY TO NEGOTIATE AND EXECUTE A REAL ESTATE SALE AGREEMENT; PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
Summary Explanation/Background Information on Agenda Request:
In 2013, the City Commission voted to authorize a public referendum for the sale of the property located at the south side of Martin Luther King, Jr. Blvd and the west side of Dixie Highway which was formerly known as the Stuart Trailer Town as it was previously a residential trailer park. On November 5, 2013, the residents of Stuart approved the Referendum and authorized the sale of the land for redevelopment. The property is located in the CRA. The property consist of two parcels. One is approximately one acre and the second is approximately 1/2 acre. 901 Hub Inc., intends to purchase the property and seek a PUD authorizing a mixed use project which will include residential rental units which will be rented at initial rates below 1000 dollars per month.
Funding Source:
N/A
Recommended Action:
Move approval of Resolution 10-2019 authorizing the City Manager to negotiate a real estate sales contract. | | |