Ocoee commission declares developer in default on 17.96-acre purchase agreement, gives 10 days to cure
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Summary
The Ocoee City Commission voted unanimously March 4 to declare GPK OET in default on its contract for roughly 17.96 acres of city-owned land and gave the buyer 10 days to cure deficiencies, after staff and the city attorney reported missing payments and documentation.
The Ocoee City Commission on March 4 voted unanimously to declare the buyer on a 17.96-acre purchase-and-sale agreement in default and to give the buyer 10 days to cure the defaults.
City legal staff said the city has $75,000 in escrow from the buyer but is missing several required contract payments and documents, including a $5,000 contract fee and two $15,000 extension fees that were required to extend governmental approvals past a June 17, 2022 deadline. The attorney said the contract includes a "time is of the essence" clause and a 10-day cure period for defaults; the commission exercised its contractual authority to declare the default and require a cure.
The transaction history presented to the commission showed multiple plan revisions and prolonged preliminary site-plan work after the original RFP and selection process. Staff noted the project repeatedly revised its design, moved proposed retail and changed the layout in several iterations; the contract included earlier concessions tied to city roadway and stormwater work. The attorney said there was no written waiver of the payment requirements and that the city’s escrow agent had not received the required extension fees.
The attorney told the commission there are competing contract provisions that could affect any refund of the deposit and that the city could expect a claim from the buyer if the commission ultimately terminates the agreement. Commissioners who spoke said they favored addressing the contractual noncompliance first; one commissioner made a motion to declare default and start the 10-day cure clock and another commissioner seconded. The motion carried unanimously.
Why it matters: the property is in District 4 and has been the subject of multiple iterations of a mixed-use proposal; the default declaration restarts a process that could end with contract termination, deposit refunds or further legal claims.
Ending: Staff and the city attorney said the city will wait the 10-day cure period; if the buyer does not cure the defaults the city may proceed with contract termination and related steps outlined in the agreement.
