Sugar Hill will dedicate approximately 3,000 of the mixed-use development\u2019s 10,000 square feet of commercial space to Taste of the Islands Marketplace, adjacent to but no longer affiliated with Taste of the Islands Restaurant, according to a representative from the latter business. \u200bThe market\u2019s social media page<\/a> notes that it offers \u201chard to find Caribbean and Latin products\u201d at 2219 34th St. S. \u2013 about 1.5 miles from Tangerine Plaza.<\/p>\n \u200b\u201cThis letter of intent reflects the parties\u2019 mutual interest in establishing a grocery store with a wide variety of fresh produce, healthy prepared food options and in-store dining capabilities,\u201d states the document. \u201cThe grocery store will provide cultural and culinary diversity in the Deuces neighborhood.\u201d<\/p>\n Welch credited Sugar Hill for \u201csecuring a small grocer\u201d and \u201cmost of its financing\u201d in a memo sent to the council Wednesday. At least two council members, who both voted against the year-long extension Thursday, disagreed with those statements.<\/p>\n Councilmember Gina Driscoll unsuccessfully requested a copy of the letter showing the grocer\u2019s commitment \u201cbecause it sounds like it\u2019s done.\u201d She said it was \u201cnot fair that you\u2019re even asking the city council to take this up right now\u201d when it \u201clooks like everything has been thrown together by all sides to get this in front of us.\u201d<\/p>\n The council will not meet again until after Sugar Hill\u2019s previous extension terminates Jan. 2. Aaron Fisch, director of real estate and property management, had not \u201cfully reviewed\u201d the documents and could only provide the company\u2019s name, without specifying whether it was the restaurant<\/a> or market.<\/p>\n According to the Dec. 11 agenda, a letter Sugar Hill sent in November expressed the group\u2019s intent to \u201cprovide the city with a commitment letter from a grocer\u201d before the vote. Driscoll noted Thursday that in June 2024, administrators told the council that the initial extension was needed to secure financing and a market, which required site control.<\/p>\n \u201cNow we\u2019re sitting here 18 months later, and we don\u2019t see that,\u201d Driscoll added. \u201cAnd you\u2019ve got last-minute stuff coming in that we haven\u2019t received yet. So, when you have the financing not secured, when you have a letter that we haven\u2019t seen, when you still have questions about the financing, when you\u2019re talking about borrowing money to help with this \u2013 the reasons that I voted against this agreement in June of 2024 are the same reasons that exist today.\u201d<\/p>\n The Letters<\/p>\n As is common with agreements created before the developing group has site control, the letter of intent\u2019s opening sentence states that it is a non-binding proposal.<\/p>\n \u200b\u201cThis letter of intent (LOI) is intended solely as an outline of key business terms for preliminary discussion purposes,\u201d states the document. \u201cThis proposal is not binding upon any party, and only the execution of the lease by both landlord and tenant will result in a binding agreement.\u201d<\/p>\n \u200bWhen reached by phone Friday, Leo Anderson, president of Taste of the Islands, Inc., which operates the market, declined to comment this early in the process.<\/p>\n Taste of the Islands Marketplace is at 2219 34th St. S., about 1.5 miles from Tangerine Plaza. Screengrab, Facebook.<\/p>\n \u200bThe LOI begins by noting that Tangerine Plaza, at 1794 22nd St. S., \u201csits at the heart of the Midtown community.\u201d City officials have mandated developers to provide a grocer at the site since Sugar Hill submitted its first proposal<\/a> in 2020, under former Mayor Rick Kriseman.<\/p>\n \u200bWelch restarted the process in 2022 and also selected Sugar Hill. The group includes Oliver Gross, president of Miami-based New Urban Development; Rev. Louis Murphy, senior pastor at Mt. Zion Progressive Ministry; and Roy Binger, CEO of Binger Financial Services.<\/p>\n A timestamped report states that Binger created the document at 8:36 a.m. Wednesday. Anderson electronically signed and completed the agreement 30 minutes later and would sign a five-year lease, with two five-year renewal options.<\/p>\n The two parties would work collaboratively to build the market, with Sugar Hill agreeing to a $150,000 budget. Taste of the Islands is responsible for all additional costs.<\/p>\n \u200bSugar Hill must approve the market\u2019s site plan and design. The developers will not lease other commercial space to a business \u201cprimarily engaged in the sale of groceries or the provision of Caribbean cuisine.\u201d<\/p>\n \u200bTaste of the Islands will pay $2.75 per square foot, $99,000, during the first year of the lease. Rent will increase by 5% annually.<\/p>\n Sugar Hill, which plans to build 186 affordable housing units and requested $22.3 million from the city and Pinellas County, has until Jan. 2, 2027, to secure financing, a grocer and meet other city requirements. The group would enter a $100,000 annual lease for 75 years, with the city waiving the first 24 months of payments, or purchase the property for $1.5 million.<\/p>\n \u200b\u201cAlthough the pace is not what we anticipated, Sugar Hill has made progress<\/a>, including securing a small grocer, development partners and the majority of its financing,\u201d Welch wrote in his memo.<\/p>\n \u200bAdministrators explained Thursday that they received LOIs for financing, a \u201cstarting point\u201d that is \u201csubject to many things being completed.\u201d Councilmember Lisset Hanewicz, who also voted against the extension, said commitments are \u201cnot just based on hopes and dreams.\u201d<\/p>\n The grocer<\/p>\n \u200bCouncilmember Corey Givens Jr. said he has patronized Taste of the Islands \u201cpretty much my whole life.\u201d However, he has concerns regarding its ability to \u201cperform at this site.\u201d<\/p>\n \u200bGross said the current shop occupies approximately 3,000 square feet. The community is familiar with the brand, and Taste of the Islands has \u201calready demonstrated that there is market acceptance.\u201d<\/p>\n![\"\"](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/12\/Screenshot-13432-1024x600.jpg\")
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