Commission approves term sheet to negotiate sale of 57 acres to Pine Crest School

The West Palm Beach City Commission unanimously approved a term sheet that clears the way to negotiate a sale of about 57 acres of city-owned land to Pine Crest School for use as a pre-K through 12 campus.

Deputy City Administrator Armando Fauna told the commission the term sheet preserves a deed restriction limiting the parcel to school use and sets the sales price at the higher of the most recent appraisals or the previously agreed $6,600,000. Fauna said more recent appraisals averaged a little over $5 million, but the commission had earlier required the higher, previously agreed figure to stand as the minimum price.

The term sheet includes several community-focused commitments: Pine Crest offered a $1.5 million contribution toward a pump station that staff said would increase water pressure in the surrounding area; a financial-assistance program for qualifying West Palm Beach residents; and a requirement that at least 18% of construction spending be set aside for certified small businesses in Palm Beach County or certified with the city.

Representatives of Pine Crest described the school’s financial-aid model and community commitments. Dana Markham, president of Pine Crest School, said the institution provides need-based assistance at existing campuses and will prioritize outreach and an early application window for West Palm Beach residents. Nancy Green, Pine Crest’s vice president for finance and operations, said roughly 15% of the school’s current student population receives financial assistance but that percentages would vary by market and could be higher in West Palm Beach.

Several commissioners pressed for shorter performance timelines and stronger enforcement language. Commissioner Ward asked whether the deed restriction would be in perpetuity; Fauna said the final sales agreement will set that term — it could be 90 years or perpetual, depending on final negotiations. Ward also urged shortening a proposed five-year timeframe to begin construction; Pine Crest trustees said they expected to move faster and that the long windows are maximums intended to allow flexibility. Fauna said the city could insert tighter deadlines and reverter clauses in the final sale agreement.

Fauna and Pine Crest officials also said the parcel’s northern acreage contains municipal well fields that would remain protected; Pine Crest offered to help improve access to the wells. Fauna told commissioners that proceeds from the sale would be channeled, in part, into a grant agreement with the school district to support Roosevelt Elementary, with academic performance standards to be finalized and returned for commission approval.

The vote on the term sheet was procedural — commissioners approved the nonbinding document to allow Pine Crest to proceed with due diligence, rezoning and preparation of a final purchase-and-sale agreement that must return for commission approval.

The commission approved resolution 161-26 unanimously. The final sale will require additional public hearings for rezoning, site plan review and a concluding purchase agreement.