With the future of the new public golf club uncertain, council postponed selling the city golf course for at least a year.
The date to close on Boca Municipal to GL Acquisition Corp. was this Oct. 31. The sale price was $65 million.
The new potential closing date is Oct. 31, 2020 with $500,000 added to the purchase price. The agreement could also extend the sale to April or October 2021. That would raise the price by another $250,000 for each option to $65.75 million or $66 million.
The municipal course on Glades Road just outside the city limits remains open for play. Council and the developer agreed to delay the closing months ago, as talks over building Boca National Golf Club drag on.
“This is another example to keep golf in Boca,” Mayor Scott Singer said before council unanimously approved the new sale agreement late Tuesday.
“This allows us to keep our municipal golf course open,” agreed Deputy Mayor Jeremy Rodgers.
“It worked out for both sides,” GL vice president Larry Portnoy said afterward.
GL Homes plans to build about 550 single-family homes on the site. The city authorized the sale to GL in November 2017 among bidders for the property.
Council spent three hours hearing out alternate designs for the former Ocean Breeze in a separate workshop earlier Tuesday. No decision was made.
Council has not agreed to approve the Price Fazio design or a $20 million request to pay for construction.
The Greater Boca Raton Beach & Park District is repaying a city loan for the $24 million property, overseeing the project and chose the design team.The district bought part of the site outright.
The district is considering a property tax hike to pay for the build if it can’t come to an agreement with the city.
By Marci Shatzman