Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Cra Acquisition topic
No spam. Unsubscribe anytime.
CRA board approves $1.2 million purchase at 1509 10th Street West; USF study proposed for downtown Main Street
Summary
The Tamiami Trail Community Redevelopment Agency approved purchase of a 0.72-acre gateway property for $1.2 million and authorized negotiations and next steps; staff also presented a proposed University of South Florida Main Street study for downtown revitalization.
The Tamiami Trail Community Redevelopment Agency (CRA) board voted to approve a commercial property purchase agreement for 1509 10th Street West in Bradenton, authorizing the chair to execute documents needed to close the transaction.
Property and price: CRA staff said the 0.72-acre property sits between Lee Con Park and the Village of the Arts, and the negotiated purchase price is $1,200,000 with an initial $25,000 escrow deposit. An owner-provided appraisal in the packet showed an appraised value of $1,500,000 within the prior 12 months. CRA staff said the acquisition aligns with CRA goals for removing blight and supporting city park development.
Board action: The CRA board moved and seconded the purchase and approved the agreement unanimously. Staff said the CRA will pursue due diligence items including title review, a phase-one environmental assessment for potential brownfield status and boundary surveys.
Additional redevelopment planning: CRA staff also presented a proposed urban design and Main Street planning engagement with the University of South Florida's School of Architecture and Community Design. The 13-month study, estimated at about $98,000, would include design work and student-led research to support a Main Street program and downtown placemaking. Staff said they will return with a formal contract for board approval.
Next steps: Staff will complete environmental and title due diligence, proceed toward closing if findings are acceptable, and pursue federal brownfields and EPA assessment grants to support planning and redevelopment work. CRA staff said the city and CRA are coordinating on a nearby turn-lane easement and potential right-of-way acquisition as part of a related downtown project.
Ending: The CRA board approved the purchase and asked staff to return with any contract documents, environmental findings and a proposed schedule and budget for the USF planning agreement.
