Lennar's revised offer to buy the city municipal golf course has a major contingency clause:
The closing of the transaction is contingent upon Lennar obtaining approvals for their residential development on the current golf course which would be expected to occur in approx 2 years!
These terms would result in the city being without a PUBLIC golf course for approx 4 years since it will take another 2 years to rehab/fix the golf course after Lennar/Wells Fargo doesn't maintain it for the next 2 years.
What are your thoughts on this issue?
Hello and thanks for the updates being posted here. Can you clarify this last post? What does the 'current golf course' refer to? So, if I understand, Lennar may be purchasing the municipal golf course to develop it and in 2 years will develop Ocean Breeze as well? Sorry if I misunderstood. Thanks. Boca Teeca condo 8
ReplyDeleteThe purchase offer by Lennar is "contingent" upon obtaining development approvals from palm Beach county which "if approved" would take approx 2 years from today. But, there is no guarantee that Lennar will get approvals. Also, there is no guarantee that the city will approve this offer, since that already have higher offer f
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