SUBJECT/RECOMMENDATION:
Title
Approve an Agreement for Development, Purchase, and Sale of Property between the City of Clearwater Community Redevelopment Agency and Myrtle Development, LLC, for certain CRA-owned property located at 103 N. East Avenue, Clearwater, Florida 33755 and authorize the CRA Chair or designee to execute all documents necessary to effectuate closing.
Body
SUMMARY:
On July 16, 2026, the City of Clearwater City Council declared as surplus certain real property located at 103 N. East Ave., Clearwater, Florida 33755 (Property) and authorized that it be transferred to the Clearwater Community Redevelopment Agency (CRA) for future redevelopment efforts in the Downtown Community Redevelopment Area.
On July 19, 2026, in accordance with Section 163.380, Florida Statutes, the CRA provided a public notice of disposition of the property (Notice) through publication in a newspaper of general circulation within the community and invited proposals from private developers and other interested parties to develop the Property.
Proposals were due on August 18, 2026, and the public notice required at minimum a purchase price of $875,000.00. The public notice also required that the Property be used to support development opportunities consistent with the Downtown Community Redevelopment Area Plan, specifically the Downtown Core Character District.
One response was received from Myrtle Development, LLC (Myrtle). Staff reviewed Myrtle’s proposal (Proposal) and determined it to be responsive and meet the minimum requirements of the Notice. The Proposal included a purchase price of $1,000,000.00 and will incorporate the Property into a larger redevelopment project, an 83,000 square feet family entertainment center commonly referred to as the EVO Entertainment facility. Further, staff submits the purchase price is at a value determined to be in the public interest for uses in accordance with the DTCRA Plan as required by Section 163.380, Florida Statutes.
After completing review of the Proposal, staff began negotiations with Myrtle for the proposed Agreement for Development, Purchase, and Sale of Property (Agreement). The Agreement provides the following key terms:
• A purchase price for the Property of $1,000,000.00 to be conveyed via quit-claim deed to Myrtle;
• A 15-year term and recordation of the Agreement in the Public Records of Pinellas County, Florida;
• A definition for the project, which includes an 83,000 square feet family entertainment center and a minimum of 400 associated parking spaces;
• A use restriction that the Property must be used as a vehicular parking area for the family entertainment center;
• A project development schedule which includes a requirement that the Project receive a certificate of occupancy within 4 years of the adoption of City of Clearwater Ordinance No. 9908-26;
• A requirement that the parking area be open to vehicular access, ingress, and passage at all times subject to reasonable restrictions; and
• A right for the CRA to repurchase the Property for $1,000,000.00 if certain conditions of the Agreement are not met by Myrtle.
Fiscal Impact:
The CRA will receive $1,000,000.00 for the sale of the Property to Myrtle.
Downtown CRA Plan Alignment:
• Goal 1: People Goal (p. 46): Downtown shall be a place that attracts residents, visitors, businesses and their employees and enables the development of community. The City shall encourage a vibrant and active public realm, recreation and entertainment opportunities, and support the community and neighborhoods.
• Goal 3: Amenity Goal (p. 46): Downtown will be a memorable place to be enjoyed that is enhanced by Clearwater’s waterfront location, natural resources, built environment and history.
• Objective 4A - Encourage redevelopment containing a variety of building forms and styles.
• Objective 4B - Ensure redevelopment enhances the built environment.
STRATEGIC PRIORITY:
2.1 Strengthen public-private initiatives that attract, develop, and retain diversified business sectors.
2.2 Cultivate a business climate that welcomes entrepreneurship, inspires local investment, supports eco-friendly enterprises, and encourages high-quality job growth.
3.2 Preserve community livability through responsible development standards, proactive code compliance, and targeted revitalization.
