Community Redevelopment Agency Board

Community Redevelopment Agency Board Meeting Friday, July 25, 2025 - 2:00 PM 100 East Ocean Avenue Public Viewing Available Through Microsoft Teams 561-737-3256

Present:

Chair Rebecca Shelton Property Seller Ajit Asrani Broker Suraj Dalal

Tim Tack, Acting Executive Director Kathryn Rossmell, Board Counsel Tammy Stanzione, Deputy City Clerk

1. Call to Order

Chair Shelton called the workshop to order at 2:30 P.M.

2. Workshop Item No.1

Chair Shelton stated that this was a continued discussion and consideration of the purchase of the Inn at Boynton Beach, located at 480 W Boynton Beach Boulevard. She noted that the Community Redevelopment Agency had received a firm quote of $1 million for the demolition of the Inn. She inquired if the seller would agree to $7.5 million and a closing in 45 days with no contingencies.

Mr. Asrani made a counteroffer of $8.15 million.

Board Counsel, Kathryn Rossmell, commented that a draft form of the Purchase and Sale Agreement would be ready for the CRA meeting on August $ 12^{\\mathrm{th}}. $

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Mr. Asrani agreed to the August 12th date. He noted that there was a $24,000 lien on the property that the former owner should have settled. He asked if the Board could assist with addressing the lien.

Counsel Rossmell indicated that the Staff and Legal departments would follow up with him separately about the lien on the property. She also noted that Mr. Asraini should be aware that any information he submits to the CRA will become a public record.

Chair Shelton stated that she would like to have the first page of the offer from the other interested party, so that she can share that information with the rest of the Board.

3. Adjournment

There being no further business to discuss, the workshop was adjourned at 2:40 P.M.

Jammer Atanzorie

Tammy Stanzione, CMC

Deputy City Clerk