Resolution authorizing $1,725,000, plus closing costs, from the Capital Projects Fund to purchase of 730 E. International Speedway Blvd. and 300 S. Atlantic Ave. as an assignment from Dr. Michael Munier through his Broker, Tim Davis (SVN Alliance, 1275 W. Granada Blvd., Suite 5B, Ormond Beach, FL 32174) 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 purchase of this property for future redevelopment is consistent with and supported by the goals and policies set forth in the South Atlantic 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.