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Commission backs nonbinding term sheet to sell 777 Main Street to Savage Craft
Summary
The commission approved a nonbinding term sheet on Nov. 20 for sale of the former Corbin building at 777 Main Street to Savage Craft Ale Works; the agreement ties the purchase price to milestone-based CO and operating benchmarks and requires a minimum $3 million renovation investment.
The Daytona Beach City Commission voted Nov. 20 to approve a nonbinding term sheet that would sell the city's property at 777 Main Street to Savage Craft Ale Works under milestone-based purchase terms.
City staff said the city bought the property in 2023 for about $3.1 million and the term sheet frames a purchase price of $2 million if the buyer achieves specified milestones: obtaining a…
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