Title
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Fifth Amendment to Agreement for Purchase and Sale Among Murdock Village Community Redevelopment Agency; Lost Lagoon Development, LLLP; Charlotte County and Kolter Group Acquisitions, LLC for purchase of MVCRA-owned land in the Murdock Village Area
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recommendation
Commission Office
a) Approve the Fifth Amendment to Agreement for Purchase and Sale among Murdock Village Community Redevelopment Agency; Lost Lagoon Development, LLLP; Charlotte County; and Kolter Group Acquisitions LLC; and
b) Authorize the Chairman to sign the Fifth Amendment to Agreement for Purchase and Sale.
**Change, Added attachments- Economic Impact-Kolter, Economic Impact Combined in today’s dollars, Economic Impact Combined- Project Hills, 6/21/24**
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Budgeted Action:
No action needed.
Background:
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The County and the MVCRA sold approximately 95.20 acres in the Murdock Village Area to Lost Lagoon Development, LLLP in September, 2020. The property was not developed according to Lost Lagoon’s plans. Lost Lagoon and Kolter have entered into a proposed transaction where Kolter will purchase Lost Lagoon’s interest, the remaining MVCRA property, and will assume Lost Lagoon’s responsibilities to develop the Public Infrastructure Improvements.
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