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Kissimmee CRA board approves up to $400,000 reimbursement to developer for Civic Center demolition
Summary
The Downtown Kissimmee CRA board authorized reimbursement of up to $400,000 to Azure Hotel International for Civic Center demolition work tied to the Azura Hotel/Convention Center public-private project; staff said reimbursement will follow independent estimate verification.
The Downtown Kissimmee Community Redevelopment Agency board approved a reimbursement to Azure Hotel International Inc. of up to $400,000 to cover demolition costs for the Civic Center site, a staff presentation said.
Samaya Singleton, economic development manager, said demolition is a required first step for the developer’s hotel and convention center project and that the master development agreement requires the city to reimburse eligible demolition activities. “We’re here to recommend that you approve the CRA reimbursing Azure in the amount, dollars 400,000 or not to exceed $400,000 for demolition of the site,” Singleton said.
Singleton told the board staff reviewed and approved an independent estimate and recommended authorization for staff to execute necessary documents. Commissioners discussed the item's bond contingency and confirmed staff would not issue demolition permits until bonding was in place.
The reimbursement was approved by motion; staff said Azure will pay demolition costs up front and the CRA will reimburse the developer after completion and verification of eligible costs.
