City of Palm Coast Approves Contingent Agreement to Acquire Palm Harbor Golf Course from Centex

Agreement hinges on city’s adoption of Development Order changes requested by Centex

September 5, 2007 – Palm Coast, Florida – Last night Palm Coast City Council unanimously approved an agreement to accept Centex’s contingent donation of the Palm Harbor golf course. As disclosed in earlier articles, Centex desires to amend the existing Development Orders (DO) for the Harborside Inn and Marina to enhance the property’s marketability. The requested changes were not detailed at last night’s council meeting but previous information meetings disclosed that Centex was looking for the following changes to the Development Orders to gain additional flexibility:

  • Downsize the two remaining condominium buildings
  • Optionally allow the condo/hotel to be a standard hotel
  • Extend the DO by a period of two years

The requested DO changes have been submitted to the city for review and processing according to existing procedures. The agreement stipulates that the transfer of title to the city will take place within 30 days following the approval of the DO changes. If the changes are not adopted, the agreement may be terminated by Centex at their sole discretion.

 

Palm Coast plans to renovate the golf course and operate it as a municipal facility. The agreement also allows the city to lease the practice range property. However, Centex maintains ownership as well as the right to develop it in the future in accordance with a PUD agreement.

 

In a phone interview, City Manager Jim Landon disclosed that the Develoment Order changes have already been filed. They essentially include the above items. There are two separate Development Orders, one for the resort/marina side and the other for the golf course side. The proposed term extension will be five years from adoption. Since the DOs are about 2 1/2 years old, this will constitute a 2 1/2 year extension. The requested changes include, by request of the city, provisions to promote the earliest construction of a hotel. As ordinance amendments, they will be reviewed by the planning department on Sept. 19 followed by a first reading by city council on Oct. 2 and a second reading on Oct. 16.

2 replies
  1. Glo Harrod
    Glo Harrod says:

    City Caves in to Centex

    Why should we acquire a golf course that will cost a fortune to renovate WITHOUT a driving range? Centex is actually at the mercy of the City, we should be dictating the terms, not Centex. If we can’t purchase the driving range, we have no business taking over the course in order to accommodate Centex until the market comes back. Centex is one of the reasons the condo market has taken a dive, too greedy and now they can’t live up to their committment. I say NO to acquiring the course. I lived on a bankrupt course for 2 years until it was sold, things usually work themselves out but not by hijacking the public’s money.

  2. Herb Whitaker
    Herb Whitaker says:

    Centex dealings

    I have 2 thoughts on this.
    1. I don\\’t like the strong arm tactics being used by Centex. Approve what we want and you get the golf course, don\\’t approve it and back comes the carrot.
    2. I also like the thought that they have placed the City in the same position the City takes in dealing with developers. Usually it is the City that takes the take it or leave it position. Not much fun to be on the other side is it?

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