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IDA amends Culver's sale, conveys Hogan Street right‑of‑way and approves $750,000 parcel sale
Summary
The IDA approved a first amendment to the Culver's purchase agreement (moving the closing date to June 2026 and adding right‑of‑way legal descriptions), conveyed Hogan Street right‑of‑way to the city, and approved a $750,000 purchase contract with GH and G Florida LLC for adjacent parcels.
The Hardee County Industrial Development Authority approved several land and contract actions on Wednesday that affect property along the Highway 17 corridor.
Ms. Evers presented a first amendment to the purchase and sale agreement with S & L Properties (the operator of the planned Culver's). The amendment adds updated legal descriptions to enable a right‑of‑way dedication for the Hogan Street road extension and extends the closing date to June 2026 to provide cushion for Debut’s interior build‑out; Culver's has agreed to allow Debut an additional 40 days after closing to transition into their new premises. The board voted to approve the amendment.
Following that item, the board approved the conveyance of the right‑of‑way parcels to the city of Wauchula that were carved from both the property under contract with Culver's and adjacent IDA‑owned parcels.
Separately the board approved a purchase‑sale agreement with GH and G Florida LLC for multiple IDA parcels originally acquired in prior years. The IDA’s packet said the parcels were purchased previously for $328,500; the new contract price is $750,000. The contract includes a 150‑day initial due‑diligence period and staged deposits (initial $5,000 and an additional nonrefundable $10,000 at the end of the initial due diligence), with options for extensions that carry additional nonrefundable deposits. Staff characterized the proposed use as compatible with the Hogan Street extension and future commercial development along Highway 17.
Each of those items passed on motions and voice votes; staff was authorized to execute any documents necessary to effectuate the conveyances and contract signatures.
