Sebring CRA approves disposition agreement for 231 South Ridgewood Drive, adds review condition for tax rebate

The Sebring Community Redevelopment Agency on June 8 approved a disposition agreement for 231 South Ridgewood Drive, adding a provision that the board must review any future tax-rebate request should the proposed Hall of Fame not occupy the building’s first floor. The board voted in favor by recorded roll call responses.

The change lets the board assess tax-rebate eligibility if the developer proposes a different use for the first floor and adds a two-year deadline tied to whether the Hall of Fame establishes operations there. Board members said staff had incorporated the committee’s edits and that the current meeting was finalizing details of a concept previously approved in principle.

Miss Vasquez, giving the staff report, said, “Yes, ma'am. I do not have anything to add therefore unless the board has any questions.” Board members pressed staff on the financial contribution associated with the project; one member described the developer’s contribution as “a substantial, like 10%,” and asked whether that share was fair given the project cost. Staff and board members discussed options if the Hall of Fame did not materialize, and agreed that any alternate first-floor use seeking a tax rebate would need to come back before the board for approval.

At the meeting the board instructed staff to insert contract language that: (1) makes clear the first-floor intended use, (2) gives the board the authority to review tax-rebate requests if the proposed use changes, and (3) attaches a two-year timeframe after which the Hall of Fame requirement would not automatically be prolonged if not realized. Sarah (staff) and Christie (board member) participated in drafting how that change should be recorded before the vote.

Votes at a glance
- Approval of consent agenda: motion made and seconded; Alexa called the roll and affirmative responses were recorded (roll-call sequence of affirmative responses). Outcome: approved.
- Approval of disposition agreement for 231 South Ridgewood Drive (with board-review language and two-year timing addition): motion made and seconded; Alexa called the roll and affirmative responses were recorded (roll-call sequence of affirmative responses). Outcome: approved.

The board also heard a brief staff report with no additional items from Miss Vasquez and received remarks from Board member Taniel about forthcoming landscaping and signage concepts for a tenant using the HQ sub-brand of IWG/Regus; those materials are expected before the next budget meeting. The meeting concluded with no additional public comments recorded.

The board’s action finalizes terms to be inserted into the disposition agreement; any future changes to first-floor use tied to tax incentives will return to the board for consideration.