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Daytona Beach approves purchase of six Midtown parcels for up to $1.435 million
Summary
The CRA approved up to $1,435,000 to buy six parcels in the Midtown CRA area to assemble land for redevelopment; proponents said land acquisition is a common TIF tool to attract private development.
The Daytona Beach Community Redevelopment Agency voted to approve spending of up to $1,435,000 in Midtown CRA loan funds to purchase six parcels as part of a land‑assembly effort intended to spur development in Midtown.
Staff described the purchase as an expenditure from GPM 2023 Midtown CRA loan funds for parcels identified by address in the packet, noting the acquisitions are intended to make development sites available to private developers. A commissioner noted for the record that staff verified the city was not paying above appraised values.
A public commenter and long‑time CRA observer, John Nicholson, supported the purchase and said acquiring property is a standard CRA tool that helped enable past hotel and downtown projects by assembling sites for private development. Nicholson urged the commission to use the same approach in other CRA zones, such as Beachside, that may lack assembled parcels.
After discussion, the commission approved the purchase resolution 6–0.
Staff said the funds would come from the Midtown CRA loan account and that the city has previously acquired nearby parcels for redevelopment use. Commissioners and staff discussed transparency and appraisal safeguards in the transaction.
