Special CRA Meeting | October 20, 2026

The West Palm Beach Community Redevelopment Agency (CRA) special meeting on October 20, 2026, served as the public evaluation and selection committee for Invitation to Negotiate 2526500DL to redevelop CRA-owned properties along Broadway. The committee heard presentations and questioned three proposers, then ranked them under the ITN criteria. BFC West Palm Beach LLC and Meridia West Palm Beach LLC/Capedaglia Property Company tied in the initial ranking; after follow-up questions and a second individual ranking, BFC ranked first (score 5), Meridia/Capedaglia second (score 7), and BGI Financial LLC third (initial score 12). This was a proposer ranking, not a final contract award.

The proposals outlined different development and financial approaches. BFC presented concepts of up to 470 units, proposed 100% affordable housing at 30–80% of area median income (AMI), and said it could proceed without CRA or county subsidy; it also proposed discounted rents for 20% of retail space. BGI proposed 277 apartments, including 95 workforce units, and estimated total project costs of about $109 million; its financing plan included approximately $36 million in equity and a projected year-four TIF rebate of about $700,000, alongside requests to discuss city tools such as permit-fee relief and infrastructure support. Meridia/Capedaglia proposed about 315 units and 15,000 square feet of retail, offered $3.5 million for the land plus closing costs and 5% audited profit sharing, and proposed 30-year workforce-housing affordability, 30 rent-to-own residences, and 22% small-business participation. No contract award or spending motion was made at this meeting.