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Board approves waiver of right of first refusal to preserve workforce-housing covenants at Luma Del Rey
Summary
The county approved a staff-recommended waiver of the right of first refusal for 25 workforce-housing units at Luma Del Rey, after counsel said the lender will ensure the covenant restrictions survive in the event of foreclosure; staff indicated it will consider amending covenants to reduce future waivers.
Palm Beach County commissioners voted to waive the county’s right of first refusal on Luma Del Rey’s workforce-housing covenant after staff said the lender agreed to language that would allow the unit restrictions to survive a foreclosure.
Assistant County Attorney Darren told the board the request is…
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