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Title: RE3 AMENDMENT TO BELLE GLADE SALE AND PURCHASE AGREEMENT Recommendation:
I recommend approval of an Amendment to the Agreement for Sale and Purchase between the City of Belle Glade and the School Board of Palm Beach County for the sale of +/- 5.4 acres; and authorizing the Chairman and Superintendent to sign all necessary documents.
Description:
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The School Board approved the Agreement for Sale and Purchase (the “Agreement”) at its December 8, 2004 Board meeting (see Summary for Board Agenda Item #12D-4, “Exhibit A”).
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The Agreement contemplates that the subject lands will be used for the development of a community oriented housing project to be funded by securing State of Florida financing.
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The State funding source requires that the Agreement include a “specific performance” remedy in the event of the School Board’s default.
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The sole purpose of the Amendment to the Agreement is to add the “specific performance” provision.
Financial Impact:
N/A
For Additional Information, contact:
Joseph M. Moore (moorej@Mail.palmbeach.k12.fl.us) \Joseph M. Sanches
Attachments (list):
BELLE GLADE AMENDMENT.pdf
BelleGladeEXHIBITA.pdf
BelleGladeMap.pdf
BelleGladeLegalCheckList.pdf
Q&A.doc
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