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CRA authorizes negotiations with PACE Preservation Partners for former Pensacola Motor Lodge, amid preservation and affordability questions
Summary
The CRA approved staff to negotiate a sale and purchase agreement with PACE Preservation Partners (Steve Bean) for the former Pensacola Motor Lodge at a proposed $500,000 purchase price and with proposed long‑term affordability covenants; board members and the mayor pressed for safeguards if tax credits are not awarded and for demolition timing to reduce blight.
The Community Redevelopment Agency authorized staff to negotiate a purchase and sale agreement with PACE Preservation Partners for the former Pensacola Motor Lodge (2305 and 2301 West Avanti Street), following a staff summary of a competitive solicitation that produced two proposals and PACE’s presentation.
Steve Bean, introduced as CEO of Soil Housing Partners and a PACE partner, presented the firm's proposal: a $500,000 purchase offer for the site with a proposed 50‑year land‑use affordability restriction tied to Florida housing finance programs and a willingness to extend affordability where useful (Bean cited precedents of 50‑year restrictions and, in some deals, longer tax‑abatement terms). He said PACE intends to close within the year and pursue tax credits and other funding; he also said the developer would move quickly on demolition if necessary to remove blight.
Council members and board members pressed a range of questions: whether the buyer would close regardless of tax‑credit awards (PACE said it intends to close and not make closing contingent on a tax credit), what interim steps would protect the city if tax credits fail, and whether renovation rather than demolition had been fully explored. Staff confirmed the solicitation allowed proposals that preserved or renovated the structure but only one responsive, qualified purchase proposal met the solicitation’s affordability, timeline and urban‑design criteria.
Board members and the mayor emphasized the original purpose of the city’s acquisition (to reduce emergency calls and ultimately provide affordable housing) and asked staff and the prospective buyer to craft enforceable protections—such as community benefits agreements, demolition timing commitments and reversion or resale restrictions—so the property does not sit unused or revert to a non‑affordable use if funding efforts fail. The CRA approved authorization to negotiate, and staff will return with negotiated terms for board and council review.
