City Center
The year 2021 was pivotal for the property known as City Center , located at the southeast corner of Walton Road and U . S . 1 . In late 2020 , City Council authorized the City Manager to negotiate a Purchase and Sale Agreement ( PSA ) for the acquisition of 22 privately owned City Center parcels , which are currently held in receivership by the Securities and Exchange Commission ( SEC ).
After successful negotiations with numerous taxing authorities in early 2021 , settlement agreements were executed to remedy outstanding taxes and tax certificates on the 22 City Center parcels . The City is hopeful the PSA will be fully executed by the end of 2021 and both parties can move forward to a swift closing in early 2022 .
The City ’ s acquisition efforts represent the most viable option for bringing City Center property back to life . Once in City ownership , the City will be initiating a master planning effort to include strong public engagement on developing City Center , which will determine which parcels will be held for civic use and which parcels will be marketed for redevelopment . This activity correlates with the intent of the Original CRA to create mixed-use pedestrian and transit friendly districts .
2021 ANNUAL REPORT COMMUNITY REDEVELOPMENT AGENCY Page 14