FACILITIESAPPROVED

Lake Worth Community Redevelopment Agency Awards Facilities Contract to City of Lake Worth Beach (August 2025)

The CRA approved an interlocal agreement with the City of Lake Worth Beach to transfer and lease back several parcels for development of the K Street parking garage. The CRA will contribute $1.5 million upfront and assume $2.5 million of a capital improvement note over five years, with all properties ultimately conveyed to the City.

Document date · August 12, 2025

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Scope & details

The full contract record, as filed.

Contract amount
CRA contribution: $1.5M initial payment plus responsibility for $2.5M of a $3.5M Capital Improvement Note
Contract type
FACILITIES
Contract term
CRA has five years to pay off its $2.5M portion of the Capital Improvement Note; property transfer occurs before construction and full conveyance back to the City occurs upon completion of the garage
Renewal
Interlocal agreement includes a five-year repayment schedule for the CRA’s note obligation; no explicit renewal or extension options were described.
Document type
Minutes
Source document
Lake Worth Beach Community Redevelopment Agency Minutes 2025-08-12

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Lake Worth Community Redevelopment Agency?

City of Lake Worth Beach was awarded this facilities contract by Lake Worth Community Redevelopment Agency, as recorded on August 12, 2025. The contract value is CRA contribution: $1.5M initial payment plus responsibility for $2.5M of a $3.5M Capital Improvement Note.

How much is the City of Lake Worth Beach contract with Lake Worth Community Redevelopment Agency worth?

The City of Lake Worth Beach contract with Lake Worth Community Redevelopment Agency is valued at CRA contribution: $1.5M initial payment plus responsibility for $2.5M of a $3.5M Capital Improvement Note, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Lake Worth Beach Community Redevelopment Agency Minutes 2025-08-12 (Minutes), dated August 12, 2025 from Lake Worth Community Redevelopment Agency. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does City of Lake Worth Beach hold?

City of Lake Worth Beach may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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