Broward County Commission Regular Meeting
Director's Name: Bertha Henry
Department: County Administration Division: Real Property
Information
Requested Action
title
MOTION TO APPROVE Second Amendment to Purchase and Sale Agreement between Broward County (“Seller”) and Ark Rustic Inn Real Estate, LLC (“Purchaser”) for the sale of a parcel of land located at SW 42nd Court in Dania Beach extending the closing deadline to December 31, 2020; and authorize the Mayor and Clerk to execute same. (Commission District 7)
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Why Action is Necessary
Board of County Commissioners’ approval is required to declare and dispose of surplus property pursuant to Florida Statutes, Section 125.35 and Broward County Administrative Code, Section 6.23.
What Action Accomplishes
Approves the Second Amendment to the Purchase and Sale Agreement, which extends the term of the current closing until December 31, 2020.
Is this Action Goal Related
No
Previous Action Taken
None
Summary Explanation/Background
COUNTY ADMINSTRATION/REAL PROPERTY SECTION RECOMMENDS APPROVAL OF THE ABOVE MOTION.
On June 16, 2020 Broward County (“Seller”) and Ark Rustic Inn Real Estate, LLC (“Purchaser”) entered into a Purchase and Sale Agreement (the “Agreement”) for the sale a parcel of land located at SW 42nd Court in Dania Beach and identified as Folio Number 504229011246. The Agreement established a closing deadline of 60 days from execution on August 15, 2020. On August 12, 2020, the County Administrator executed the First Amendment to the Agreement extending the closing from 60 to 120 days from execution to allow for certain title matters to be addressed.
Purchaser now has requested to extend the closing until the end of the year, December 31, 2020, in case additional time is needed after the October 15, 2020 closing deadline. All documents have been reviewed and approved as to form by the Office of the County Attorney.
Source of Additional Information
Lary Mahoney, Director, Real Estate Development, (954) 357-7357
Steve Hammond, AIA, Acting Director, Public Works Department, (954) 357-6410
Fiscal Impact
Fiscal Impact/Cost Summary
There is no fiscal impact to Broward County.