The City Council has voted to buy 341 acres of ocean-front land zoned for industrial uses for $23 million and to seek a developer as partner to create a tourist and resort area at Ormond Beach.
The city has agreed to pay $1.7 million for an 18-month option to purchase the land for a project that will include hotels, restaurants, retail shops and sports facilities (golf, tennis), with the possibility of developing a marina.
The property contains four parcels south of Hueneme Road, east of Perkins Avenue and west of Edison Road.
The land, at $67,448 per acre, is being bought from Western LGN Associates. The state Public Utilities Commission has denied the utility the right to use the site for liquefied natural-gas tanks and an offshore terminal.