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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 accompanies an itemized estimate from the tenant showing an expected private investment of about $1,500,000 to build out the expanded space.
Several commissioners raised objections. Some said the marina redevelopment RFP is outstanding and warned that approving long lease terms or a sizeable tenant investment now could complicate future marina redevelopment proposals. Commissioners asked whether the lease could be structured with an exit mechanism and how a developer selected through an RFP would account for improvements or potential buyout obligations. Counsel and staff responded that the term sheet could include an exit provision (examples discussed included a 90‑day notice for termination) and that any future developer‑driven relocation or demolition would likely require the developer to negotiate reimbursement or a buyout for tenant investments; staff said developer obligations would be addressed in future procurement and lease documents.
Supporters of the term sheet said the restaurant has been a long‑standing presence on the waterfront and that an approved term sheet and negotiated lease would allow the operator to invest now to finish and activate currently unfinished waterfront areas. Others argued for caution, preferring shorter or month‑to‑month arrangements until the marina RFP is finalized.
The board voted on resolution 202511 to approve the proposed term sheet. The motion passed 3–2, with Vice Chair Miller Anderson and Chair Lanier voting against the resolution and three commissioners voting in favor.
Staff will draft a formal lease consistent with the approved term sheet and return it to the board for review. The board directed counsel and staff to include protections such as documentation of construction costs and an exit/notice provision in the subsequent lease language.
