SUBJECT/RECOMMENDATION:
Title
Approve the First Amendment to Contract for Sale of Real Property by the City of Clearwater between the City and Habitat for Humanity of Pinellas County, Inc. and authorize the appropriate officials to execute same, together with all other instruments required to affect closing. (consent)
Body
SUMMARY:
The property, located at 1454 S Martin Luther King, Jr. Avenue, is currently vacant and it is identified by Resolution #17-38 as a city-owned property appropriate for use as affordable housing (Pinellas County Property I.D. #22-29-15-00000-320-1300). On January 18, 2018, City Council declared the property surplus for the purpose of sale, through Invitation to Bid #14-18, whereby the successful bid was required to meet the terms set by Council. (NOTE: Following the council meeting, an administrative matter required staff to change the ITB number to #21-18.) Among terms set by Council, the property must be developed with a minimum of ten (10) residential units for sale to households with total household income at or below 80% of area median income.
Habitat for Humanity of Pinellas County (Habitat) was the successful bidder and entered into a Contract for Sale of Real Property by the City of Clearwater on June 25, 2018. Because the site poses challenges, Habitat is confident, but not certain, it can secure approvals to construct the ten required homes. The current contract requires closing by November 15. The proposed Amendment will extend closing to January 18, 2019 providing Habitat adequate time to gain necessary approvals.
Proceeds from sale will be used for future CDBG-eligible projects administered by the Economic Development & Housing Department.
APPROPRIATION CODE AND AMOUNT: N/A
USE OF RESERVE FUNDS: N/A