City of West Palm Beach Community Redevelopment Agency Agenda May 2026
CRA Amends 314 Clematis Lease-Purchase Agreement
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Description
The West Palm Beach Community Redevelopment Agency board approved Resolution No. 26-11, a Second Amendment to its lease and purchase agreement with 314 Clematis Owners LLC for the redevelopment of 314 Clematis Street. The amendment confirms current compliance, adjusts development and financing provisions, and maintains the $5.6 million, five-year lease-to-own payment structure.
Contract Details
Contract Amount
$5.6 million over five (5) years
Vendor
314 CLEMATIS OWNERS LLC
Agency
Hillsborough County, FL
Contract Type
FACILITIES
Document Date
May 11, 2026
Contract Term
Five (5) years
Renewal Info
Second Amendment preserves original project scope and sale terms while updating development partners, confirming compliance with preconstruction conditions and payments, establishing a construction commencement date, and allowing affiliate leasehold mortgage financing up to 49% of project costs with required approvals. Original agreement approved by Resolution No. 24-25 and first amended by Resolution No. 24-47.
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