Sky Isle affordable housing agreement modified and assigned

City Council will modify and assign the existing developer agreement, loans, and affordability restrictions for the Sky Isle multifamily property currently held by SP One, Ltd. to a new owner, Preservation 518, Ltd., including extensions of loan maturities and affordability terms. The action also authorizes subordination of City loans and right of first refusal to facilitate the transaction.

Scope & details

The full contract record, as filed.

Contract type

OTHER

Renewal

Existing developer agreement and City loans will have extended maturity dates and updated amortization schedules; affordability period in the Declaration of Restrictions is extended.

Document type

AgendaPacket

Source document

City of St. Petersburg Council Meeting Agenda Packet 2026-08-06

Related contracts

Other contracts from Sp One Ltd.

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City of St. Petersburg Agenda Additions and Deletions 2026-08-05

DISCUSSSED

City of St. Petersburg, FloridaAug 5, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of St. Petersburg?

Sp One Ltd was awarded this government contract by City of St. Petersburg, as recorded on July 30, 2026.

What type of contract is this?

This is a government contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of St. Petersburg Council Meeting Agenda Packet 2026-08-06 (AgendaPacket), dated July 30, 2026 from City of St. Petersburg. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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