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CRA approves $2M sale of Armory site to Saint Benedict Holdings; plan to create jobs and preserve structure
Summary
The CRA approved selling the Armory site at 706 N. Missouri Ave to Saint Benedict Holdings LLC for $2,000,000. The agreement requires the property to be put into commercial use within 120 days of closing and includes a 15-year commitment to operate and to recruit up to 30 full-time jobs with a goal to hire at least 10 North Greenwood residents.
The Community Redevelopment Agency voted Aug. 3 to approve an agreement selling the Armory property at 706 North Missouri Avenue to Saint Benedict Holdings LLC for $2,000,000. Jesus Nino, CRA executive director, said proceeds will offset costs related to relocating Parks & Recreation from the facility and that the agreement requires the buyer to place the property into the intended commercial uses within 120 days after closing; the business must remain in those uses for 15 years.
The developer indicated the intended uses would include warehousing, distribution, light manufacturing, packaging, corporate offices, training and research. The agreement also requires the developer to use best efforts to preserve and adaptively reuse the historic Armory structure. As community benefits, the purchaser committed to actively recruit and hire employees for its Clearwater operations, with a goal of creating up to 30 full-time jobs and employing at least 10 North Greenwood residents; the developer also agreed to partner with CareerSource for hiring events.
Trustees approved the sale and adopted the related resolution; staff said the project will return the parcel to the tax rolls and advance redevelopment objectives for North Greenwood.
