On or about June 27, 2008, NU Beginnings Parramore Village Development, LLC (“NU Beginnings”) recorded a Declaration for Wells Landing in the Public Records of Orange County, Florida (“Declaration”). The Declaration was intended to establish a residential community on land previously owned by the City and conveyed to NU Beginnings for redevelopment (“Property”). NU Beginnings was not able to develop the community and conveyed the Property to the CRA on May 1, 2014.
The CRA has determined that it would be best to terminate all plans for redevelopment of the Property in the manner set forth in the Declaration pursuant to the attached Termination of Declaration for Wells Landing (“Termination”). The Declaration requires that the City consent to any modifications or termination.