Resolution approving a real estate contract to purchase 729 E. International Speedway Boulevard from Blue Sky of Daytona Beach, Inc. (118-B N. Beach Street, Daytona Beach, FL 32114) for the purpose of eliminating blight and assembling property for redevelopment including improving the appearance and safety of a major intersection of two highways located at the gateway of the World’s Most Famous Beach and executing a land assembly strategy to redevelop a prime commercial location.  The Community Redevelopment Agency (CRA) will be requested to authorize the expenditure of $905,000, plus closing costs, from the Main Street Community Redevelopment Trust Fund prior to the City Commission’s approval of the contract. The purchase of this property for future redevelopment is consistent with and supported by the goals and policies set forth in the Main Street Redevelopment Plan.  Funds available in the Capital Projects Fund.

Reed Berger, Redevelopment Director to report.

Recommendation:  Redevelopment Director recommends adoption of the Resolution.

Action:  Motion to adopt the Resolution.