Temp. Reso. #R6971 approving a purchase and sale agreement and related exhibits between the City, as seller, and Related Development, LLC, as buyer, for the 3.742-acre Miramar Town Center Block 2 property for a purchase price of $3,200,000, for the development of 27,500 to 32,500 square feet of ground floor retail and up to 400 residential apartment units on the Block 2 property; approving a 50-year lease for the City-owned 14,000 square foot existing retail shell space located on the ground floor of the Police Headquarters Building to Related Development, LLC; authorizing the expenditure of associated closing costs for the purchase of the property; authorizing the City Manager to execute the Purchase and Sale Agreement and any associated condition precedent documents required to close. (Strategic Development Officer Hector A. Vazquez)

What this record is

Amount

$3.20M

Runs until

no end date published in this record

Type

purchase

Field

Public safety

Read automatically from the title of the official record. The source document below is authoritative.

Committee

CITY COMMISSION REGULAR MEETING

Requested by

Office of the City Manager

Introduced

May 22, 2019

On agenda

June 12, 2019

Passed

December 31, 2023