Title
MOTION TO ADOPT PROPOSED ORDINANCE NO. 2018-28 ON SECOND AND FINAL READING.
AN ORDINANCE OF THE CITY OF PEMBROKE PINES, FLORIDA, PURSUANT TO SECTION 8.03 OF THE CITY OF PEMBROKE PINES CHARTER, AUTHORIZING THE SALE OF APPROXIMATELY 3.15 ACRES OF UNIMPROVED REAL PROPERTY GENERALLY LOCATED SOUTH OF PINES BOULEVARD ON THE WEST SIDE OF PALM AVENUE, TO PROVIDENCE I INVESTMENTS, LLC, SUBJECT TO THE TERMS AND CONDITIONS AS SET FORTH IN THE PURCHASE AND SALE AGREEMENT, ATTACHED HERETO AS EXHIBIT “A” AND INCORPORATED HEREIN BY REFERENCE; AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE ALL NECESSARY DOCUMENTS; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. Providence One Investments, LLC (purchaser) has submitted an Agreement for Purchase and Sale for approximately 3.15 acres of unimproved real property generally located south of Pines Boulevard and west of Palm Avenue.
2. The purchaser is proposing to pay $3,000,000.00 ($952,380.95 per acre) for the vacant parcel of land as stated in the attached agreement.
3. The purchaser is proposing to develop an Assisted Living and Memory Care facility with a minimum of 126 beds and a maximum of 150 beds on the 3.15 acre site.
4. The Agreement for Purchase and Sale has been modified since first reading. The changes include the following:
A. A voluntary contribution for traffic mitigation.
B. Consideration by the City to record a declaration of restrictive covenants on the adjacent City owned property.
5. Based on discussion during the first reading of the ordinance, the purchaser has agreed to provide $45,000 towards traffic signalization and/or mitigation on Palm Avenue. The funds will be provided by the purchaser to the City prior to the issuance of the Certificate of Occupancy for the Assisted Living Facility.
6. Additional language has been added to the updated agree...
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