PRESENTATION ITEM
FROM: Grover C. Robinson, IV, Mayor
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PRESENTATION FROM ANDREW ROTHFEDER PROVIDING AN UPDATE ON THE INSPIRED COMMUNITIES OF FLORIDA, LLC LEASE OF PARCELS 4 & 5 OF COMMUNITY MARITIME PARK
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REQUEST:
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That City Council receive a presentation from Andrew Rothfeder providing an update on the Inspired Communities of Florida, LLC Lease of Parcels 4 & 5 of Community Maritime Park.
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SUMMARY:
In February of 2022, City Council approved the option agreement between the City of Pensacola and Inspired Communities of Florida LLC. for the exclusive right to develop Parcels 4 and 5 of the Vince J. Whibbs Jr. Community Maritime Park, until August 31, 2023 as well as allow for one 6-month extension at the Optionee’s discretion.
City representatives are currently in negotiations with Inspired Communities regarding the lease of Parcels 4 & 5. This presentation provides an update on this process from Andrew Rothfeder.
PRIOR ACTION:
October 1, 2018 - City enters into an Option Agreement with Studer Properties for all vacant lots in Community Maritime Park.
March 26, 2020 - City authorizes an Addendum to the Option Agreement with Studer Properties, extending the term through March 31, 2021.
April 22, 2021 - City Council approved the publication of the public notice for disposition of Lots 4 and 5 at the Community Maritime Park for redevelopment.
July 12, 2021 - City Council approved the scheduling of a special meeting regarding the redevelopment submitting groups and ranking
July 28, 2021 - City Council ranked the submittals for Parcels 4 and 5 and set in place a mechanism for movement to the next in line if negotiations fail.
October 14, 2021 - City Council rejected an MOU from Carson Lovell, seemingly then moving to the next in line, Inspired Communities.
February 10, 2022 - A presentation was given regarding a Term Sheet for the development of Lots 4 and 5 at the Community Maritime Park.
February 10, 2022 - City Council approved approve in concept the term sheet between the City of Pensacola and Inspired Communities of Florida, LLC to be used by staff to negotiate a final lease that will be returned to City Council for their approval.
February 10, 2022 - City Council approved the option agreement between the City of Pensacola and Inspired Communities of Florida LLC. for the exclusive right to develop Parcels 4 and 5 of the Vince J. Whibbs Jr. Community Maritime Park, until August 31, 2023 as well as allow for one 6-month extension at the Optionee’s discretion.
STAFF CONTACT:
Kerrith Fiddler, City Administrator
Amy Miller, Deputy City Administrator
David Forte, Deputy City Administrator
ATTACHMENTS:
None.
PRESENTATION: Yes