After a month of ill feelings, Lakeland commissioners unanimously approved three deals, allowing longtime tenants to buy the Mass Market-area buildings they occupy.
The breakthrough came when Market Lofts Apartments, DOU Bakehouse , and Haus 820 presented written proposals, identifying their preferred outcome among options detailed by city staff.
Lakeland Commissioner Stephanie Madden called the outcome “a Christmas miracle.”
McLeod pointed out that the three sales will yield nearly $3 million — $2,998,911 — that the CRA can use for other redevelopment projects.
Brian Rewis, director of Community and Economic Development, stressed that the sums will be credits toward payment — not price reductions — so the recorded sale prices for each property will be the appraised value.
That means the businesses will pay taxes based on the full value, and nearby properties will benefit from comparable sales or “comps” that recognize improvements made over the past decade.
All three contracts will include a 10-year “right of first refusal” clause that allows the city to buy the property back at market value if it’s later put up for sale.