By resolution 64-2019 the City Commission agreed to enter into a purchase agreement for the properties located at 301 SE Ocean Blvd., 325 SE Ocean Blvd and 330 Osceola St., Stuart, Florida 34994. The contract indicated that the seller had to provide 18,000 Sq Ft (Lease Contingency) of vacant space on the first and second floor by June 30, 2021. If this contingency is satisfied the city would be obligated to close on the contract. 

On May 28, 2020 I was notified that the Well's Fargo Bank had renewed their lease option to stay in the building, which would cause the 18,000 SqFt to not be available by June 30, 2021. The City does have the option with written notice to waive the Lease Contingency by June 30, 2020 and and complete the purchase.

Capital Plan

CRA

Property Management

Option 1 - Do not complete the contract and evaluate other options for city hall to include current location remodel.

Option 2 - Waive the "Lease Contingency" and close on the purchase of the property. Evaluate for redevelopment and manage property to become a future home at some point for city hall.