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City council approves sale of Old City Hall library site to Flanagan Enterprises with $50,000 demolition credit
Summary
City of Homestead council approved a $2.33 million sale of the 2.49-acre Old City Hall/Library parcel to Flanagan Enterprises for a restaurant and retail liquor store; council added a $50,000 buyer credit toward demolition costs and a buy-back option if developer fails to perform.
The City of Homestead on Wednesday approved a commercial contract to sell roughly 2.49 acres of the former Old City Hall/Library site to Flanagan Enterprises Inc. for $2,332,627.
The sale authorizes the city manager to execute closing documents and sets deadlines, escrow deposits and other typical closing conditions. The buyer is required to develop a full-service restaurant and a retail liquor store on the parcel and provide roughly 120 onsite parking spaces, the contract says.
City staff said the per-acre price—$974,771—was consistent with a recent appraisal of the larger, 17-plus-acre former City Hall property. The agreement includes post-closing obligations for development, and the council added a negotiated $50,000 credit to the buyer’s closing statement to offset potential demolition costs.
Jose Fuentes, representing Flanagan’s team, told council members the company appreciated the city’s cooperation and expects to move quickly on site planning, noting coordination is already underway on platting and parking layouts. Council members asked whether demolition could occur before permits and approvals are final; staff said permits might be issued under a hold-harmless agreement and that the city would coordinate timing with the developer.
The final motion approved by roll call includes a provision allowing the city to buy back the property at the original purchase price if Flanagan Enterprises fails to meet the agreed development schedule.
Why this matters: The sale transfers a centrally located city parcel to private development intended to add restaurant and retail liquor uses and parking that supporters say will reactivate the site and catalyze adjacent investment. The buy-back clause gives the city an enforcement tool if the buyer does not build as promised.
Council recorded unanimous support for the adjusted contract at the meeting; the motion passed on roll call.
