The seller is DSS Properties, which is headed by Steve Scaggs, the owner of the landmark Two Georges Grille. The restaurant will remain open and under the ownership of the Scaggs family.

Funding for the acquisition comes from an $18.7-million bond, issued in December 2005. In addition, CRA anticipates another $2 million from the county's $50-million bond issue, which includes funds to preserve public marinas. "So many cities have lost their full-service marinas to private development," says Jeanne Heavilin, CRA chairwoman. "We look forward to restoring and maintaining a public access marina that's a focal point of Boynton Beach's appeal as a premier business and lifestyle location."

Lisa Bright, CRA's executive director, led the negotiations. "Water is one of Boynton Beach's most important assets," she says. "This community has been known to boaters and fishermen for decades as the gateway to the Gulf Stream." She says the first priorities are taking care of some "minor hurricane-related repairs, including replacement of the damaged pilings." Long term, CRA plans to make the property more pedestrian friendly with outdoor seating and public restrooms. The asset includes 24 boat slips and a building that contains an office and dive shop in addition to the restaurant.