CITY COUNCIL AGENDA ITEM
Memo Date: April 8, 2021
Agenda Date: May 11, 2021
Prepared By: Nancy A. Bunt, Community Services Director
Through: Stockton Whitten, City Manager
Requested Action:
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Approval of RFP# P21-19-COC, a Request for Proposals for the purchase of real estate and development of 915 Florida Avenue scheduled to be published on Vendor Link on May 18, 2021...End
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BACKGROUND:
At the March 23, 2021 City Council meeting, Council voted to terminate negotiations with The Villas of Cocoa Village and directed Staff to issue another Request for Proposals (RFP) based on the Highest & Best Use Analysis issued March 15, 2021. An updated Highest & Best Use Report, received on March 22, 2021, determined the highest & best use for the property is multi-family development. An Appraisal of 915 Florida Avenue, received April 8, 2021, determined the market value of the vacant property is $ 1,755,000.
The RFP (Exhibit A) invites developers and interested parties to submit a proposal to purchase and develop the 4.38-acre parcel situated at the Southwest corner of Rosa L. Jones Blvd. and Florida Ave., having an address of 915 Florida Avenue. A companion parcel (.55-acres) lies contiguous to the subject site and is owned by the City. The companion parcel, located within the City of Rockledge limits, will also be available to the selected developer for ancillary uses through an agreement with the City. There are 5 billboards on the parcel that must be retained and ownership of the parcel will be retained by the City.
This RFP sets forth the intent by the City to sell/offer approximately 4.38-acres within the Cocoa Community Redevelopment Area for the purposes of developing the site for its highest and best use consistent with the findings set forth in the report issued by Bass Fletcher Associates, Inc. The selected developer will be required to enter into a binding development agreement with the City which will set forth the agreed upon terms an...
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