The City Manager just advised City Council that the City has negotiated a contract to purchase the 2.27-acre “Wildflower” property, located at 551 East Palmetto Park Road for a price of $7,500,000... read more >>
The owner, Omega Group of West Palm Beach, LP, has executed the purchase and sale agreement, and the City Council consideration of the purchase will be placed on the regular meeting agenda of December 8, 2009. If approved by City Council, the closing is anticipated to occur on December 21, 2009.
The purchase price is less than the average price ($8,900,000) of the two certified appraisals obtained by the City.
Acquisition of the “Wildflower” property has been a strategic goal of the City for a number of years, and the policy agenda for 2009-2010 established by City Council during our April 2009 goal setting sessions established acquisition of the property as a top priority for the City.
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