In a move that will assure the financial well-being of the Historical Society, it was announced that a three way agreement had been signed between the Historical Society the City and a well-known local developer that would demolish the buildings at Founders Park so that townhouses could be built.

A spokesman for the City said that although no public hearings were conducted, it was generally assumed that Founders Park was used infrequently, and that other tennis courts were available throughout the community. The sale will net the City in excess of $500,000.

While expressing regret over the impending demolition of Pompano Beach's first fire station, as well as the two 1930s Kester Cottages, Pompano's original waterworks building and the Hood Center, the Historical Society assured the public that it would use part of the $1,000,000 donation it received in the agreement to build "replica" historic buildings.

The local developer, whose name was not immediately revealed, said that the three story townhouses would add needed housing to the area, and would sell in the $500,000 range. He also added that negotiations were underway with the Sample-McDougald House Preservation Society to put together a similar deal for that site.