Minutes 07-25-25 Community Redevelopment Agency Board
Meeting Friday, July 25, 2025 - 2:00 PM
100 East Ocean Avenue
Public Viewing Available Through Microsoft
Teams 561-737-3256
Present:
Chair Rebecca Shelton Tim Tack, Acting Executive Director
Property Seller Ajit Asrani Kathryn Rossmell, Board Counsel
Broker Suraj Dalal Tammy Stanzione, Deputy City Clerk
1. Call to Order
Chair Shelton called the workshop to order at 2:30 P.M.
2. Workshop Item No. 1
A. Continued Discussion and Consideration of the Purchase of the Inn at
Boynton Located at 480 W. Boynton Beach Boulevard
Chair Shelton stated that this was a continued discussion and consideration of the
purchase of the Inn at Boynton Beach, located at 480 W Boynton Beach Boulevard. She
noted that the Community Redevelopment Agency had received a firm quote of$1 million
for the demolition of the Inn. She inquired if the seller would agree to $7.5 million and a
closing in 45 days with no contingencies.
Ajit Asrani noted that the property was appraised at $8.5 million and that $7.5 million
would be a disadvantage for him. He commented that if you wanted $7.5 million for the
property, he could have gotten that 6 months ago. He stated that he does have an offer
of $8.5 million, but the buyer wants 75 days to do his due diligence.
Mr. Asrani made a counteroffer of $8.15 million.
Chair Shelton asked if he could meet in the middle at $8.1 million, no contingencies, and
a quick close in 45 days. She noted that she does have to take the offer back to the
Board for approval.
Board Counsel, Kathryn Rossmell, commented that a draft form of the Purchase and
Sale Agreement would be ready for the CRA meeting on August 12th
Mr. Asrani agreed to the August 12th date. He noted that there was a $24,000 lien on
the property that the former owner should have settled. He asked if the Board could
assist with addressing the lien.
Counsel Rossmell indicated that the Staff and Legal departments would follow up with
him separately about the lien on the property. She also noted that Mr. Asraini should be
aware that any information he submits to the CRA will become a public record.
Chair Shelton stated that she would like to have the first page of the offer from the other
interested party, so that she can share that information with the rest of the Board.
3. Adjournment
There being no further business to discuss, the workshop was adjourned at 2:40 P.M.
!df ',I 4.�t1!�� .
Tammy St. zione, S C
Deputy City Clerk