SUBJECT/RECOMMENDATION:
Title
Provide a recommendation on a proposal for the redevelopment of 706 N. Missouri Avenue from St. Benedict Holdings, LLC.
Body
SUMMARY:
On January 26th, 2026, the property located 706 N. Missouri Avenue (containing 3.13 acres, more or less), also known as the Armory site (the “Property”) was transferred from the City of Clearwater to the Clearwater Community Redevelopment Agency (the “CRA”) for future redevelopment purposes within the North Greenwood Community Redevelopment Area (the “NGCRA”).
On February 22, 2026, in accordance with Section 163.380, Florida Statutes, the CRA provided public notice of the disposition of the Property through publication in a newspaper of general circulation within the community and invited proposals from private developers and other interested parties to redevelop or rehabilitate the Armory site.
Proposals were due on March 24, 2026, and required, at a minimum:
1. A purchase price offer of at least $2,000,000;
2. A description of the project, including size, appearance, and proposed uses;
3. A financial presentation, including sources and uses of funds, the project budget, and projected employment, including the number of jobs and the median annual salary; and
4. A detailed development schedule, including acquisition and construction timelines.
The public notice resulted in one proposal from St. Benedict Holdings, LLC (an affiliate of Yo Mama’s Foods, which is headquartered within the NGCRA). The proposal has been reviewed, determined to be responsive, and found to meet the minimum requirements, including the required purchase price.
The proposal includes a $2,000,000 purchase offer and proposes the adaptive reuse of the existing Armory building and site to support the expansion of Yo Mama’s Foods’ operations, including warehouse, logistics, and light manufacturing uses, along with job creation and increased taxable value within the NGCRA.
FISCAL IMPACT:
N/A at this stage. Final financial terms will be presented for approval as part of the development, purchase and sale agreement.
STRATEGIC ALIGNMENT:
North Greenwood CRA Plan:
Goal 1: Public Safety (p. 93): Activates an underutilized site and contributes to reducing conditions associated with blight.
Goal 3: Poverty Reduction (p. 93): Supports job creation, workforce development, and increased access to employment opportunities.
Goal 5: Quality of Life (p. 94): Enhances community vitality through reinvestment and improved economic activity.
Redevelopment Policies (pp. 94-95): Advance the reuse of publicly owned property to support economic development and private investment.
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.
