Broward County Commission Regular Meeting

MOTION TO AUTHORIZE County Administrator or designee to (i) execute an amendment to the Purchase and Sale Agreement (“Agreement”) between Broward County and Florida Aquatic Nurseries, Inc. extending the time periods for the inspection period and the inspection termination date under the Agreement and (ii) send a notice of termination pursuant to the terms of the Agreement if the Property is not suitable for Broward County’s needs. 

ACTION:  (T-1:10 PM)   Approved. The Board requested that County Administration convey communication to Florida Aquatic Nurseries, Inc., as to contingencies and entitlements needed for the Town of Davie.  (Refer to minutes for full discussion.)

VOTE:  8-0.  Dr. Sharief was not present at the time of the vote.

Board Action is necessary in order to amend the Agreement.

Authorizes the County Administrator to amend the Agreement and take the prescribed action.

On December 4, 2018 (Item No. 53), the Board of County Commissioners approved the Purchase and Sale Agreement (“Agreement”) between Broward County and Florida Aquatic Nurseries, Inc. for the acquisition of four parcels measuring approximately 296,525 square feet located at 780 S. Flamingo Road in Davie (“Property”) at a purchase price of $6,662,500.
 
The 90-day inspection period, during which the County may determine if the Property is suitable for its needs, ends on March 5, 2019. At the end of the inspection period the County may terminate the Agreement by providing notice to the Seller no later than March 5, 2019. If no termination notice is provided, the County must proceed with the closing, with limited termination options. Although most standard due diligence is complete, staff needs additional time to determine whether the Property is suitable to Broward County’s needs. A discussion item was placed on the March 5, 2019 Agenda, but in an abundance of caution and after consultation with the Office of the County Attorney, this item is being added to ensure that staff has appropriate direction prior to the date on which notice must be given.