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City says ClearPath and Blue at Vero have formed joint venture for 3 Corners; negotiation phase expected next meeting
Summary
City staff reported that the selected developer ClearPath and the second-ranked team Blue at Vero have partnered to form a joint venture for the city’s 3 Corners project; staff will send the materials to financial reviewers and bring a request to move from pre-negotiation to negotiation at the next meeting.
City staff told the Vero Beach City Council that ClearPath, the selected developer for the 3 Corners project, and Blue at Vero (including Madison Marquette among its partners) have formed a joint venture and will prosecute the project together.
The city manager said staff received the correspondence late and are forwarding the submission to financial reviewers. City staff expects to return to council at the next meeting with a request to end the pre-negotiation period and begin formal negotiations with the joint venture.
Council members asked whether representatives of the new team could appear before the council when the negotiation period is authorized; staff said they would attempt to schedule an appearance consistent with the city’s “quiet period” rules.
The city manager outlined the developer’s phased plan: Phase 1A focuses on horizontal infrastructure, site remediation, utilities, bulkhead construction, and a waterfront village with marina docks, a skate park and parking — elements the manager said could open as a park first. Phase 1B includes workforce housing and mixed use at the post office site; staff said the workforce housing parcel was included in the overall proposal and the joint venture would have first rights as proposed.
No formal council action was taken at the meeting beyond directing staff to forward the submission to finance and to return with a request to move to negotiations at a future meeting.
