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A RESOLUTION OF THE POMPANO BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA), APPROVING AND AUTHORIZING THE PROPER OFFICIALS TO EXECUTE A CONTRACT FOR SALE AND PURCHASE BETWEEN THE CRA AND CAROLYN AND QUENTIN BLUE FOR THE PROPERTY AT 337 NW 4 STREET, POMPANO BEACH, FL 33060 IN THE AMOUNT OF $265,000; PROVIDING AN EFFECTIVE DATE, AND FOR OTHER PURPOSES.
(Fiscal Impact: 265,000.00)
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(Staff Contact: Cassandra LeMasurier)
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Summary Explanation/Background:
Staff is seeking approval from the CRA Board for the purchase of property located at 337 NW 4th Street, Pompano Beach, Florida 33060, further identified as Broward County Property Appraiser (“BCPA”) folio 484235020460 in the amount of $265,000. The BCPA information and aerial are included as Exhibit 1 in the agenda backup.
Property owners Quentin and Carolyn Blue contacted CRA staff with an interest to sell their property to the CRA. The property is a 1,847 sq. ft. 4 unit multifamily building with a 7,500 sq. ft. lot, zoned TO/DPOD. The CRA is purchase price of $265,000.00 is the appraised value for the property. The CRA owns twelve (12) properties in the block this property is located. Purchase of this property would add to the existing CRA assemblage for future redevelopment. The property is outlined in yellow on the aerial included as Exhibit 2. The property owned by the CRA is shown in red on Exhibit 2.
The Northwest CRA Advisory Committee reviewed the request on January 4, 2021 and recommended approval with a vote of 4-0 (Ghanem Absent).
Staff recommends approval of the Contract for the sale and purchase of this property.
Origin of request for this action: Staff
Fiscal impact and source of funding: $265,000 NW CRA Land Acquisition 150-1910-539.65-09
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