Title
Heartwood Update (NB)
Explanation
As of November 2, 2021, two Showcase and ten Dreams2Reality Purchase and Sales Agreements (PSA’s) have been fully executed and are pending execution of construction contracts. Construction contracts must be fully executed within 30 days of the execution of the PSA and the deadline for construction completion is within nine months of the executed construction contract.
On October 21, 2021, the City Commission approved for the GCRA to repay the General Fund for the 23 market rate lots, referred to as “Showcase” lots, in the Heartwood neighborhood. The two remaining Showcase PSA’s are being amended to reflect the conveyance of the lots.