TITLE
Review Interim Agreement with SPGL, LLC re Development of Workforce Housing at Trumbo Point
BACKGROUND INFORMATION
On April 11, 2022, the Monroe County School District received an unsolicited proposal from SPGL, LLC regarding development of affordable workforce housing at the District's Trumbo Point property. On May 23, 2022, the School Board held a public workshop to review and discuss the SPGL proposal. At the conclusion of this workshop, the Board directed MCSD staff to publish SPGL's proposal and request competing offers for a 120 day solicitation period pursuant to Florida Statute 255.065. The SPGL proposal, accompanied by a cover letter documenting certain criticisms noted by the Board during the May 23 workshop, was published to DemandStar on June 17, 2022. Over thirty vendors downloaded the proposal, including Ajax Building Company, Biltmore Construction Company, Charley Toppino & Sons, Inc., Keystar, Inc., Marino Construction Group, and the Vestcor Companies. Upon the conclusion of the solicitation period on October 17, only SPGL, LLC, submitted a revised proposal.
On October 25, 2022, the Board approved the Notice of Intent to Negotiate Unsolicited Proposal, authorizing negotiation of an interim agreement with SPGL pursuant to Florida Statute 255.065(6). This agenda item seeks Board input on the proposed Interim Agreement. The Agreement currently addresses site access for SPGL for purposes of conducting due diligence such as environmental assessment and title surveys. The Agreement further outlines essential elements of the workforce housing development to be included in the anticipated ground lease of the Trumbo Point property, as set forth by the MCSD Affordable Housing Task Force, such as the minimum number of dwelling units to be developed, the maximum rental rates to be charged to prospective tenants, and the exclusion of financing methods that would limit MCSD's ability to restrict occupancy of the development to its workforce and oth...
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