The City is purchasing the property at 301 E Ocean Blvd., on August 4, 2020.  There are currently several commercial tenants at the location and the they will remain until their leases expire.  There is also currently a property management agreement in place in which NAI Southcoast operates and maintains the property.  Due to the nature and size of the project, it it is not necessary to hire new staff to provide the services necessary because the term is temporary in nature.  However, because of the nature of the property and the number of different commercial tenants, the City doesn't currently have the resources to provide satisfactory maintenance an management services and therefore, it is in the best interest of the City to continue the property management currently in existence.  Further, the City of Stuart hired NAI Southcoast to temporarily manage the Triangle property when it was acquired.  As a result, the City already has a relationship with NAI Southcoast.   This agreement can be  terminated without cause upon 30 days notice.