FACILITIESAMENDED

City of West Palm Beach Community Redevelopment Agency Agenda May 2026

CRA amends 314 Clematis Street redevelopment agreement

$5.6 million over five (5) yearsWest Palm Beach Housing Authority314 CLEMATIS OWNERS LLCMay 5, 2026

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Description

The West Palm Beach Community Redevelopment Agency Board is scheduled to approve a Second Amendment to its lease and purchase agreement for 314 Clematis Street with 314 Clematis Owners LLC, maintaining a $5.6 million, five-year lease-to-own structure. The amendment updates the development partnership, confirms compliance and payments, sets a construction commencement date, and allows limited leasehold mortgage financing subject to CRA review.

Contract Details

Contract Amount

$5.6 million over five (5) years

Vendor

314 CLEMATIS OWNERS LLC

Agency

West Palm Beach Housing Authority, FL

Contract Type

FACILITIES

Document Date

May 5, 2026

Contract Term

Five (5) years

Renewal Info

Second Amendment to the existing Agreement for Lease and Purchase and Sale of 314 Clematis Street, preserving the original scope and financial terms while updating the development partner to Armata Holdings LLC, confirming compliance to date, and permitting leasehold mortgage financing up to 49% of project costs with CRA executive approvals.