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Sixth Amendment to Agreement for Purchase and Sale Among Murdock Village Community Redevelopment Agency; KL WP Village LLC; and Charlotte County for purchase of MVCRA-owned land in the Murdock Village Area
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recommendation
Commission Office
a) Approve the Sixth Amendment to Agreement for Purchase and Sale among Murdock Village Community Redevelopment Agency; KL WP Village LLC; and Charlotte County; and
b) Authorize the Chairman to sign the Sixth Amendment to Agreement for Purchase and Sale.
**Change, Added attachment - Revised Sixth Amendment to Agreement for Purchase and Sale, 4/4/2025**
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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. On August 7, 2024, KL WP Village LLC acquired from Lost Lagoon the real property and was assigned all rights of Kolter Group Acquisitions LLC under the Agreement and intends to acquire the remaining property to be conveyed by MVCRA to KL WP Village LLC.
The Sixth Amendment provides for an extension of the deadline to close on the remaining property on or before October 24, 2025 and, as consideration for the extension of the deadline to close, KL WP Village LLC shall pay to MVCRA an extension fee.
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