Wednesday, May 15, 2024

OLF 8 Updates: Beulah Town Center Offer Increases to $25 Million


The Beulah TownCenter LLC group have sent over a revised contract for the board's consideration for the purchase of 290 Acres of OLF 8 in Beulah.

I am told this revised contract will be on Monday's BCC agenda for our consideration.

In addition to a higher offer price, I am also told some language has been revised to meet what the board has requested in several meetings where we have considered previous offers.

Additionally--I was contacted by representatives of a new interested party.  This large development firm based in Alabama will be visiting the Pensacola area next week and I am told they are very interested in the OLF 8 property.

In addition to these two, we still have an offer on the table from two local individuals which the board is considering.

So the OLF 8 sale/development issue is once again heating up.  My hope is that we will soon be able to settle in on one of these offers and move this initiative forward.  If we are able to sell the 290 acres at $25 Million--this will be an immediate $10 Million Dollar windfall for our LOST fund that will provide monies for badly-needed infrastructure projects district wide.  In addition to this, such an agreement still leaves over 200 acres for the county to utilize for job creation on the northern portion of OLF 8--and everything that is developed on the southern portion of the parcel will immediately begin to generate ad valorem tax revenue for the county and the school board.

So good things are coming, stay tuned.

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6 comments:

  1. AnonymousMay 15, 2024 at 8:48 AM

    You are my hero Jeff!!!! Let’s gooooooooooooooo. Hemmer is developer we want! And now hes building the road right?? Jeff, frankly, what do you think? This is all moving in the right direction! Big things popping in Beulah!!

    ReplyDelete
  2. AnonymousMay 15, 2024 at 9:26 AM

    Are these developers committed to follow the DPZ plan?

    ReplyDelete
  3. AnonymousMay 15, 2024 at 3:13 PM

    Yes. Hemmer will follow DPZ plan

    ReplyDelete
  4. AnonymousMay 15, 2024 at 10:57 PM

    I think Bergosh pulling this deal off will actually get him re elected. Let’s see what he says tomorrow, will he stand up for the people of Beulah? Let’s get this deal signed !

    ReplyDelete
  5. AnonymousMay 16, 2024 at 3:15 AM

    Bergosh will wait to see how Barry tells him
    To vote. The Mowe offer is typically GOB politics that the BOCC has let ruin our county.

    ReplyDelete
  6. AnonymousMay 16, 2024 at 7:55 AM

    Need to get this done before August.

    ReplyDelete

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