$22 Million: BCC Receives an Updated Purchase and Sale Agreement (PSA) for 290 Acres at OLF 8 by Beulah TownCenter LLC

Conceptual Image of Beulah TownCenter, LLC's development plan for 290 acres of OLF 8

Commissioners were notified late yesterday afternoon of the receipt of a revised offer from Beulah TownCenter LLC for purchase of 290 acres of OLF 8.  The new, 25 page offer ups the good faith deposit to $500,000.00 cash and a $500,000.00 Letter of Credit.  The new due diligence period is 6 months, with an option to extend.  And the new purchase price is $22 Million Dollars for the 290 acres, or $75,862 per acre.

The BCC will be discussing this latest offer from Beulah Town Center LLC at our Thursday meeting.

Some very positive aspects of this offer:

1.  Adhearance to the Master Plan

2.  Leaving 250 Acres on the northern portion of the land for job creation

3.  Retail and Restaurants on the frontage, along with potential for a big box, big name retail store that everyone will celebrate

4.  A Town Center amenity for the community

5.  Area set aside for addition of Tennis Courts adjacent to NFCU's park facility

6.  New revenue for the county via the development of the field which currently generates zero property tax or other revenue for the County.

Some issues which must be worked:

1.  Funding for the design and construction of the Boulevard Entrance

2.  Top line price

3.  Working out the escrow agreement and when the deposit goes "hard."  Exhibit "C" was blank....

I look forward to the discussion this Thursday.  Could be a big step forward for our county!

Read the 25 page PSA here

New Proposed Bulid out of OLF 8 Field Results in HALF as many Residential Dwellings as DPZ Hybrid Plan Would Have Allowed......

Less (new high density housing built on OLF-8) is More (better 😊) 

I know that headline is a mouthful.

But what would the total number of residential units be, if some buyer made an offer and built out the OLF-8 field precisely as DPZ stipulates in their Hybrid Plan -  the compromise plan the board adopted two years ago for OLF 8?  How does that number of residences compare to the latest offer/plan submitted by D.R. Horton and Stirling Properties in their revised offer of $24.1 Million for OLF-8?

I wanted to know so I asked staff to do an analysis--which they recently completed and sent back to me.

"We’ve broken down the numbers of the plans into overall residential densities. The Horton (new) plan doesn’t include the mixed residential/commercial category as in the hybrid plan, and it proposes much lower overall densities.

 The total residential density in the [DPZ] hybrid plan is 40 units per acre. This comes from the total densities for each zoning district and the total acreage of those districts. It’s probably higher than what could be built given the variables but it’s the same way we calculate density for all zoning districts.

 The total residential density in the new[Horton/Stirling] plan is 6.7 (rounded from 6.6) units per acre. This was calculated with the 170 acres of residential and the total residential units of 1,133."

Okay so just as pictured, the lasted proposed build out consists of a town center, green spaces, commercial, retail, residential AND 241 acres for Economic Development/Job Creation.  And the total number of residential units is 1,133.

Under the DPZ hybrid plan adopted by the board--the 61 acres  set aside for residential development allowed for up to 40 units per acre.  So, multiplying the 61 acres for high density residential dwellings in the DPZ hybrid plan (and not including any of the hundreds of residential over retail in the DPZ plan's 47 acre set-aside for mixed use)==you get more than 2,400 residential units on OLF 8!! 

So the latest Horton/Stirling plan cuts, by more than half, the total number of traffic exacerbating, infrastructure taxing high-density residential dwelling units on the field while still providing retail, a town center, green spaces, restaurants, and other amenities---as well as a significant amount of space for job creation.

Remember--most that live out here in Beulah, like I do, wanted NO RESIDENTIAL on this field, as we have plenty of high density residential development all around this area already.

Just more to consider as we look at what is proposed.

But for my vote---LESS residential and more amenities is bettter.

Dystopian, Fearful, Defeatist, Pessimistic Emails---and My Enthusiastic, Positive, and Realistic Response!

Dystopian, Fearful, Defeatist, Pessimistic, and emotionally-charged emails to me regarding OLF-8's pending development will, in return, receive factual, rational, educated, enthusiastic, and emotionally neutral (Think "Spock-like") responses!  

I've lived the OLF 8 issue since I bought my house right across from the field nearly 20 years ago.  At that time, it was people complaining about the noise of the choppers.  Little did I know then that a nearly decade-long effort was already well underway for the county to acquire that property for jobs from the Navy.....but it was.

Fast forward 11 years to 2015 and I became well aware of the history of the project---and I campaigned in support of a world class, high-tech, clean tech commerce park on OLF-8 to create and provide high-tech, clean-tech, high-paying jobs for the entire region--along with amenities along the 9-Mile Road frontage for nearby residents----as I successfully ran for and won the D1 seat on the BCC.  

Yes--I've lived this issue for a long time now.

Although some will now attempt to re-write history, the facts are the facts:  I supported jobs, and I vehemently DID NOT support any, not one, residential dwelling on that field. NONE.

But then came the upswelling of anger and frustration from neighbors, politically connected companies, and stong special interests----and the original plan went out the window faster than lightning in favor of a watered down footprint for jobs--favoring a much larger mixed use development and some amenities. And yes, some residential on the field was incorporated into this "new direction"--even though very few in Beulah wanted any more residential built there on OLF 8.  Even my most ardent, staunchest political enemies in the area agreed with my assessment that we should NOT be competing with the private sector by sourcing land for homebuilders on OLF 8 because there was too much residential being built in Beulah already and the infrastructure couldn't support more on OLF 8.  

But I was outvoted.  

And then I went through the master planning, swallowed hard, held my nose, gagged and in the spirit of compromise went along with the rest of the board in supporting the master plan as the blueprint going forward for this parcel. It was a hard-fought compromise that left a little something for everyone, a lot of stuff a lot of people didn't want, and very little of what a few people wanted.  Nobody was 100% happy-it was the epitome of a compromise.

That's the fact, Jack.  That's how this happened, and that is how we came to be where we are today, period, end of story.

And now that we have chosen a group with which to partner-----as only one group came to the drop dead meeting yesterday-----I am receiving some emails that are negative.  I am also receiving some that are positive.  The negatives outweigh the positives roughly 2-1.  Here, below, is an example "negative" email and my upbeat, positive, rational, and factual response:

"Jeff,

Please [do] not [use]DR Horton (sic), he is a cheap builder and will add nothing to our area and OLF-8. It would be nice to have decent restaurants. Would be great to have a Post Office,  but as you told me the USPS is closing offices, although there are 2 close together on 29. I go back to MLK and Fairfield by the School District Warehouse to purchase stamps and do mailing. Very inconvenient.

But we say no to DRA Horton(sic), not that it matters. Sounds like a done deal. And traffic will be horrific with more homes and apartments. Oh well, the end of paradise.

Thanks,"

My response:

"Thanks for the email.  I believe we did the best we could-- given the fact that the stronger bidder (Breland) didn’t show up to the selection meeting and given the fact that DR Horton is now teaming with Stirling and upped their offer significantly.  Additionally, to their credit, DR Horton acquiesced to our insistence that they accept a deed restriction limiting their ability to build residential on the light industrial/commercial areas of the parcel.  And they did set aside a 20 acre piece of the parcel for potential sale to the school board for a school if the school board decides they want to pursue that.  And their plan has a town center, Class A medical and office buildings, retail, restaurants, and other amenities for the Beulah community. The half-hearted Breland “rendering” sent to us the night before the meeting that they did not attend indicated a small, miniscule retail parcel on the nine mile frontage, a tiny, miniscule parcel for job creation (commercial, light industrial) on the northeast corner----and the entire balance of the land residential.  It was DOA the minute I saw it, so it was wise they ghosted us and did a no show.

 Remember XXXXX—from the get go I powerfully advocated against ANY residential on that field.  I wanted amenities, retail, restaurants on the frontage and the balance of the land for the creation of high-tech, clean tech jobs (like NFCU in aesthetically pleasing buildings).  But due to the pressure put on my counterparts by local residents, and powerful and politically connected special interests,—that original plan (you know, the reason we spent $18.5 million and 25 years working on this project in the first place—as a regional jobs generator) was thrown out the window.  Over my objections.  That is the true history, well documented, of how we got where we are today. So we did the master plan which I ultimately endorsed and voted to support, in the spirit of compromise.

 With that as the backdrop, we are where we are now with one interested party.  And while the plan is not perfect, I do think this team will work with us.  And over the next 6 months or so we will hammer out an agreement that will result in between a $20-$27 Million dollar “profit” for the taxpayers—which proceeds can be used throughout Beulah, District 1, and the county to address deficiencies in stormwater and traffic infrastructure as well as other quality of life needs.  And remember this, as well:  We have a $155 Million Dollar interchange coming in Beulah which will divert half of the current 9-mile road traffic which all utilizes exit five.  Additionally, Beulah Road—now a state road—will be widened in that plan.  The state is currently constructing significant upgrades on Mobile Hwy from Blue Angel all the way to 9 Mile road through Beulah.  And the Governor’s newly-announced Florida Forward initiative earmarks $162 Million for an ambitious 6-year plan to 6-lane 1-10 through Beulah from the weigh station to Pine Forest road along with a significant re-work of the entire interchange at exit 7.  So infrastructure upgrades and modernization projects are in the works right now and have been in planning since I first took office 6 years ago.

 And the built up field will create jobs and generate significant new ad valorem tax revenue for the county and the school board—which is the real, long horizon plus of this deal.  This added revenue allows us to maintain what we have done this past year:  ensuring our sheriff’s deputies, EMTs, paramedics, firemen, and corrections guards are the highest paid in the region.  All of this without raising the year over year millage (property tax) rates.  Growing the economy allows us to do these great things while keeping the tax burden low.

 So thanks for your email of concern, and please know I am going to do my level best to shepherd this deal toward a finale that produces a huge win for Beulah (where I have lived for 20 years right across from OLF 8), the county, and the region.

 Happy Easter, and have a great weekend."