| | | | | | | |  | CITY OF ORLANDO
AGENDA ITEM
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Items Types: Community Redevelopment Agency (CRA)
| For Meeting of: 7/28/2014
| | District: | On file (City Clerk):No |
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| | | | | | | | | Subject: | Purchase Contract between the Community Redevelopment Agency of the City of Orlando, Florida (CRA) and Carver Theatre Developers, LLC | | Summary: | As part of a strategic effort to encourage redevelopment within the Parramore Community, and to otherwise carry out the purposes of the Downtown Orlando Community Redevelopment Area Plan, the City of Orlando Community Redevelopment Agency, "CRA", proposes to purchase approximately 1.27 acres of unimproved property owned by Carver Theatre Developers, LLC, and located at 701 W. Church Street at the northwest corner of Parramore Avenue and Church Street. The CRA and Carver Theatre Developers have agreed on a purchase price of Two Million Dollars ($2,000,000.00), plus closing costs, which is consistent with the CRA and City's estimate of fair market value. | | Fiscal and Efficiency Data: | | | Recommended Action: | Approval of the attached Purchase Contract between CRA and Carver Theatre Developers, LLC and authorization for the Chairman and Executive Director of the Community Redevelopment Agency to execute such Purchase Contract substantially in the form attached, and authorization of expenditures from the Downtown Orlando Community Redevelopment Area Trust Fund in the amount of $2,000,000.00.. | | Contact: | Roy K. Payne, Laurie Botts |
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| ATTACHMENTS: | | File Name | Description | Type | | Carver_Theatre_contract_(2).pdf | Contract | Contract Docs | | Fiscal_Impact_Statement.doc | fiscal | Fiscal Impact Statement |
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