CRA to hire CBRE to review Performing Arts Center; commissioners debate delaying landlord-plan approval

CRA Director Mr. Brown told the Boca Raton Community Redevelopment Agency that the CRA plans to contract with CBRE to serve as a consultant and owner’s representative to review the Center for Arts and Innovation and the associated Preconstruction and Development Agreement.

“We are going to be contracting with CBRE to provide, consulting services to the city and CRA for the purpose of reviewing the center,” Mr. Brown said, describing CBRE as a large commercial real-estate firm that will bring specialists in cost consultancy, construction management and financial consulting; he said Turner & Townsend will provide cultural-arts expertise on the team.

Brown said the firm will review the PCDA, construction submittals, the underground garage and canopy questions, and the financial terms, including operating and capital-reserve assumptions. He said staff hopes to have a contractual relationship in place prior to the Oct. 21 meeting and asked CBRE for preliminary input before the next meeting.

Commissioner Wachter pressed for caution, saying the center’s updated operating and construction cost estimates and an updated business plan are material to any approval of revised landlord plans. Wachter asked colleagues to consider directing staff to prepare a brief amendment requiring the center to provide updated financials and giving the consultant time to review them before final approval.

“I believe we need to have some sort of consensus to direct staff to work on a proposed amendment,” Commissioner Wachter said, arguing commissioners should review updated financial information before approving significant concept changes.

Other commissioners disagreed on reopening parts of the agreement. Commissioner Singer said he was wary of delaying or reopening deadlines and suggested conditioning approvals on specific threshold definitions rather than renegotiating the whole agreement. Several commissioners suggested a third-party review of costs and reserves; Wachter suggested a roughly 90-day review period for the consultant to analyze submitted financials.

Deputy City Attorney Mr. Kaylor clarified that directing staff to draft amendment language would not itself amend the agreement and that any formal amendment or deferral would be decided later by the CRA.

No formal vote was taken. Commissioners agreed to continue the conversation at the next meeting on Oct. 21, and Mr. Brown said he hoped the CBRE contract would be in place before that meeting so the consultant could provide initial input.

Next steps: staff to continue contracting activities with CBRE and return to the CRA with consultant findings and any proposed amendment language for consideration at a future meeting.