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The CRA unanimously approved spending $4.5 million to acquire 100 Stuart Avenue in downtown Lake Wales, primarily to support restoration and reactivation of the Walesbilt hotel. The board also approved a $17,971.13 food-services grant, $73,056.04 for roadway grade changes, and project-management services for the Crystal Lake Park Loop Trail.
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The property purchase is intended to support the Walesbilt hotel’s restoration and provide space that may help meet future parking needs for lodging and restaurant activity. The board also approved funding for a downtown food business, improvements to the 1st Street streetscape roadway base, and management of the Crystal Lake Park Loop Trail project. Separately, it approved selling a CRA-owned Stuart Avenue parcel for $3,000 by a 4-1 vote.
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