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Commission continues public hearing on Cornerstone Hospitality property to Aug. 20 as private restrictions are resolved
Summary
The commission continued a public hearing on the purchase and sale of the Cornerstone Hospitality site to Aug. 20 to allow the city more time for due diligence and to negotiate removal of private restrictions; motion carried 5-0.
The Coral Springs City Commission voted 5-0 Aug. 6 to continue a public hearing and extend the purchase-and-sale timeline for the Cornerstone Hospitality property to a date certain of Aug. 20 at 6:30 p.m., city staff said.
City Manager Givens told commissioners the city has an agreement for purchase and sale and is completing due diligence, but that there are private restrictions on the property that must be removed before closing. "We are feeling very good about those restrictions being removed, and we obviously want those removed prior to, moving forward on this property," Givens said. He said the agreement allows going into the fall to close and requested a continuance to Aug. 20, 2025, at 6:30 p.m.
Commissioners moved and seconded the request to continue the hearing, then voted in favor. "Is there a motion to continue to that certain date? Move to approve," the mayor called; the item carried unanimously.
The continuance leaves the purchase-and-sale agreement active while staff negotiates removal of the private encumbrances and completes remaining due diligence. No changes to purchase price or other commercial terms were discussed on the record at the Aug. 6 meeting; staff said the continuance is to allow time to resolve title and restriction issues prior to closing.
