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FPRA approves third amendment and property sale tied to King—s Landing development
Summary
The Fort Pierce Redevelopment Agency approved, on a 4-0 roll call, a resolution authorizing a third amendment to the development agreement for King—s Landing and consenting to the sale of property from Autobahn Development Inc. to Live Oak Holdings Group LLC; the resolution had been discussed and approved by the board the prior evening.
The Fort Pierce Redevelopment Agency voted to approve a resolution authorizing a third amendment to the amended and restated agreement for development of the King—s Landing project and to consent to the sale of the related property from Autobahn Development Inc. to Live Oak Holdings Group LLC.
Why it matters: The resolution (FPRA Resolution 25-07) formalizes consent required under the agency—s development agreement for the transaction and associated amendment; agency staff noted the board discussed and approved the same item the previous evening and that the text had not changed since.
The board took a roll call vote; Commissioners Taylor, Broderick, Gaines and Chairwoman Hudson voted yes and the resolution passed 4-0.
Ending: Staff and counsel will proceed with necessary follow-up to complete the sale and the contractual amendment according to the resolution terms.
