NEW BUSINESS BY DEPARTMENT HEADS, CITY ATTORNEY AND COUNCIL
Purchase and Sale Agreement between City of Bradenton and PHBGF Ventures, LLC for Parking and Sidewalk Areas
Approval
No
No
PHBGF Ventures, LLC ("Developer") is currently under contract with the CRA to purchase 1.97 acres of land for the Met 2B Project. The Met 2B is a proposed 99 unit multi-family project. During the course of review of the Site Improvement Plan by the City and Developer, it was identified that in order to meet the parking requirements under the City's Land Use Development Code the project must include 99 parking spaces. This requirement cannot be met by the developer under their existing Site Plan for a 99 unit multi-family project without obtaining six additional on-street parking spaces. The City is purchasing this 538.4 sf Right of Way to allow Developer to construct the six additional on-street parking spaces in the Right of Way. This will allow the Developer to meet the requirements under the Land Use Code. The funding for the Right of Way to add six on-street parking spaces will be split equally between the City and CRA. However, as the on-street parking spaces will be located in the right of way, they cannot be dedicated for the exclusive use of the Met 2B Project.
The Developer will be responsible for construction of the on-street parking spaces and all costs associated therewith.
$87,500.00 plus related transactional costs.
Reviewed and approved by Blalock Walters.
Motion to approve the Purchase and Sale Agreement with PHBGF Ventures, LLC for parking and sidewalk areas and allow execution by Mayor.