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IDA approves $500,000 demolition budget amendment, issues RFQs and accepts February financials
Summary
The IDA approved a $500,000 budget amendment to fund demolition at 533 Carlton Street, authorized multiple RFQs for property and real estate services, approved a small parcel purchase contract, and accepted the February 2025 financial statements.
The Hardee County Industrial Development Authority approved several administrative and financial items at its meeting, including a $500,000 budget amendment to fund demolition of the vacant building at 533 Carlton Street, authorization to issue RFQs for real estate and professional services, approval of a purchase contract with First Mortgage of Huachula for a parcel related to the Gardens at Midtown project, and acceptance of February 2025 financial statements.
Kristen, an IDA staff member, said the vacant building at 533 Carlton Street poses vandalism and trespass risk and that demolition is the "best and highest use" for the property. Staff presented an estimated demolition cost of $436,000 and asked the board to amend the Southport made special revenue budget by $500,000 to cover demolition and related work. The board approved the budget amendment by voice vote.
The board also authorized issuance of an RFQ for professional real estate services to market and manage IDA properties; the proposed contract term is two years with negotiated options to extend. Denise (staff) described a scope that includes acquisition, sale, leasing, property management and marketing to regional and national site selectors.
The board approved a purchase contract between First Mortgage of Huachula and the IDA to acquire a portion of land (for Gardens at Midtown). Sarah described the parcel earlier as about 871 square feet and the purchase price as $1,500.
Lynn Nguyen, staff, presented the February financial statements and said she reran the financials after the packet was issued to reflect additional data entry. The board voted to accept the February 2025 financials as presented.
All motions in this set of items were approved by voice vote.
