The due diligence period on the land sale ended 4/22/22, and this week we got another $300K hard money deposit in addition to the $200K we already have. We will also now own all of our land from the edge of their future building to Bayshore. We will get 61 parking spots and $9.3MM if they get approved for 50 units. They are going to try for 60 units and if they get that, we get $180K for every unit over 50, so maybe another $1.8MM. But we would go down to 59 parking spots. We currently have 55 spots. The southern part of their building will be 8 ft closer than the original purchase and sale agreement, but the northern part that is near our shul will be about 8 inches further from us than the original PSA.
Going back to owning all of our land around our building and the Bayshore side and the possibility of another $1.8MM are some very positive changes.
The timeline moving forward will be another $500K hard money deposit in Jan 2023 and at closing we would get the balance of the $9.3-$11.1 million owed to us, this will be between July 2023 to no later than Jan 2024. Construction could start as soon as closing or anytime thereafter depending on what Related decides they want to do. But, we will have our onsite parking until they begin construction and they must complete construction within 2 years from when they start. They will be providing off site parking for us during construction about 0.3 miles away and a shuttle van to use.
This has been a regular topic at my monthly Q and A meetings and Lloyd will be continuing those in the future. Please reach out with any other questions.
Marcy Solomon Baker, MD President Congregation Rodeph Sholom
During the month of May, morning Minyan will be held in person on Thursdays only!
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April 29 Sidney Schuster Barry Hanerfeld
April 30 Carole Ewen Jonathan Kaplan Stacey Shapiro Marissa Sandler
May 1 Carmen Klein Inez Levin Howard Bergen
May 2 Wyatt Provda
May 3 Jacob Mallin
May 4 Diane Grossman Shari Mezrah Craig Newman Jonathan Turkel
May 5 Kenneth Kahn
YAHRZEIT OBSERVANCES
Harold Altus George Karpay Herman Kanfer Eva Levin Anna Morris Jack Pisetzky Max Marcus Jack Roth Mary Martinez Victor Ruben Bertha Hoffer Beatrice Miller
Michael Weisman Isadore Segall Lee Schoendorf William Greenberg Robert Hartmann Abraham Berkowitz Frieda Kichler Ann Levine Jacob Hyman Theodore David Neuburger
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Tampa Jewish Memorial Gardens Plot space is available at the Tampa Jewish Memorial Gardens operated by Congregation Rodeph Sholom (formerly the New Rodeph Sholom Cemetery). Rodeph Sholom Members $3,000 and Non-Members $3,500 per plot. Price includes perpetual care. Interfaith family section available. Payment plans may be arranged. Please contact the synagogue office at 813-837-1911 or email at info@rsholom.org.
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