The Daytona Beach Community Redevelopment Agency voted to authorize the expenditure of up to $2,200,000 in tax-increment funds, plus estimated closing costs of $15,000, to purchase a vacant parcel at 29 South Ocean Avenue.

The approval, adopted by voice vote with no recorded opposition, funds the purchase from the Main Street CRA account and designates the property for use that city staff said would help complete a boardwalk connection and enable future requests for proposals for development along the beachfront corridor.

John Nicholson, a resident of 413 North Granbury Avenue and a long-time attendee of CRA meetings, urged the agency to purchase properties for redevelopment, arguing the CRA should acquire land even when prices are higher than historical lows so projects can move forward. "We're supposed to acquire property," Nicholson said, noting missed opportunities in prior years when parcels were available at lower prices.

Angela Armstrong, project manager, told the CRA that staff met with the property owner before placing the item on the agenda. Armstrong said the owner indicated he was not interested in pursuing a hotel partnership and intended to sell the site. Staff said the appraisal was $2.1 million; the owner had sought $2.5 million and the negotiated purchase price is $2.2 million plus closing costs.

In discussion, staff and commissioners framed the acquisition as part of a longer-term plan to extend the boardwalk, connect Breakers Park to Harvey Avenue, and clear a parcel to allow for potential parking or an eventual Request for Proposals for development. Staff noted that if the CRA does not acquire the lot, another buyer could, potentially complicating the boardwalk and access plans.

The resolution approving the expenditure was moved and seconded on the agenda; the CRA voted in favor by voice vote with no opposition. The item will take effect per the resolution language and staff will proceed with closing steps.