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Board approves term sheet for Rafiki Tiki lease expansion over dissent about timing and developer RFP
Summary
The CRA approved a term sheet Sept. 10 that would permit Rafiki Tiki LLC to expand at its marina location, while a divided board warned about approving tenant expansion before the marina RFP is complete.
The Riviera Beach CRA voted Sept. 10 to approve a term sheet that would form the basis for a lease agreement with Rafiki Tiki LLC, a waterfront restaurant operator, while some commissioners voiced concerns about authorizing tenant expansion before a broader marina development procurement is complete.
Agency counsel Chris Smith reviewed the term sheet on the record, describing proposed lease terms that would permit expansion of Rafiki Tiki and setting a commercial rent figure (presented verbally at the meeting as approximately $22.50 per square foot). Counsel and staff noted the term sheet…
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