FORT WALTON BEACH — The City Council voted 5-0 Tuesday to approve the development agreement for the long-awaited Landmark Center.
Councilmen John Mead and Bobby Griggs abstained because of conflicts of interest.
The issue attracted another overflow crowd to the council chambers. Many visitors watched the meeting on television in another part of City Hall. The discussion took nearly 2ﾽ hours.
FILE: Development Agreement. >>
Residents and downtown business owners lined up to ask questions of the city staff and the project’s developers, Ft. Walton Development Partners.
Most of the questions concerned the proposed parking deck. In the agreement, the city has agreed to purchase 32 parking spaces for $492,128. The city also can buy more spaces for $15,379 each through 2026.
The 122,000-square-foot Landmark Center at the corner of Perry Avenue and U.S. Highway 98 would have 15 corporate apartments, 90 hotel rooms, a swimming pool and 31,000 square feet of restaurant and retail space.
The developers would hold 15 parking spaces for apartments and 107 spaces for the hotel. Any spaces not owned by the city would be owned by the developers but be available for public parking.
A governing board would maintain the garage. The board will have five members, three of whom would be chosen by the city.
Fort Walton Beach also will transfer a property valued at about $80,000 now used as a parking lot adjacent to the development. The developers will use the parcel for the new parking deck.
The development agreement includes deadlines. The developers have six months to apply for their building permit and 12 months to have the permit approved.
City staff also has put aside about $1.75 million in Community Redevelopment Agency grants that the Landmark Center is eligible for if it meets each grant’s criteria. Each grant will be brought to the City Council for approval.
The agreement also includes the possibility of a pedestrian bridge over US. 98.
City Councilman Trey Goodwin said the latest development agreement finally is financially viable for the city.
“I certainly think the city is going to get some value out of this,” Goodwin said.