Boca Teeca Does Not Want To Be Held Hostage

Boca Teeca residents would be held hostage under the terms of the proposed offer by Lennar to buy the city's municipal golf course west of the turnpike which includes the swap of the Boca Teeca/Ocean Breeze golf course property.  The purchase price offered by Lennar is $37.5 million and is based upon a minimum of 400 home sites and 200 multi-family units to be approved by Palm beach county on the turnpike area golf course property.

Furthermore, the consummation of the transaction is based upon all development approvals being final, with all appeals periods having expired and no pending appeals.  Lennar anticipates that it will take 15-18 months to secure all Approvals .  The closing of the transaction is also subject to an inspection period of 60 days from the effective date of the agreement  and the closing must take place within 21 months from the end of the inspection period.

WOW! There are enough loopholes in this agreement to drive a truck through and during this entire period of approximately 2 years the Boca Raton residents will NOT have a championship level golf course within the city.  Residents in Boca Teeca are going to be held hostage for a minimum of 2 years and of course there is no guarantee that these terms will be met and the whole deal could be voided after approx 2 years of waiting.

This is NOT a good deal for Boca Teeca residents who have already demonstrated that they are not going to amend the deed restriction on the golf course property, so there will need to be some significant improvements in this agreement before 2,500 Boca Teeca residents will be able to support this deal.  Come on Lennar, you don't really expect the city to allow all these "voters " to be held hostage for 2 years!