FORT PIERCE – A last-minute request by city staff to pull discussion of another amendment to the 2019 downtown King’s Landing development agreement took the main event off the Fort Pierce Redevelopment Agency’s (FPRA) agenda Tuesday night.
The agenda originally published for the meeting included FPRA action to approve or deny a fourth amendment to the King’s Landing development agreement.
If approved, it would have recommended that the city give the project developer another 180 days to find what was expected to be the final $15 million in financing for the project.
The journey to develop the former H. D. King Power Plant site on the downtown waterfront began in 2019, when a mixed-use development plan promised a high-end hotel, retail and restaurants and several types of residential units.
Over the past seven years, the city has approved three amendments to the original agreement, once in 2022, again in 2024 and the last time in 2025.
The action that was to be considered Tuesday night by the FPRA was to grant a fourth amendment, setting a new timeline for construction to be initiated and completed in phases.
Developers have said delays surrounding financing have resulted in missed deadlines and higher costs.
FPRA board members, who serve dually as city commission members, had voted 4-1 in September to grant the developers six months to find the additional funding and that attorneys for both sides would draft a fourth amendment to waive the breaches and set new project deadlines.
There was no comment Tuesday night on why city staff had requested the fourth amendment language be pulled from the agenda or when it may be brought back.