File #: ID 2025-156    Version: 1 Name:
Type: Discussion and Possible Action Status: Agenda Ready
File created: 6/3/2025 In control: Community Redevelopment Agency
On agenda: 6/11/2025 Final action:
Title: POST OCCUPANCY AGREEMENT FOR 6012 NW 9TH COURT
Attachments: 1. AGREEMENT, 2. BACKGROUND: POST OCCUPANCY LEASE LETTER, 3. BACKGROUND: PASTOR CARLOS' RESPONSE
Date Ver.Action ByActionResultAction DetailsMeeting DetailsAudio/Video
No records to display.

 

TO:                     Margate CRA Chair and Members of the Board

 

FROM:                     Cale Curtis, CRA Executive Director

 

DATE:                     June 11, 2025

 

 

Title

POST OCCUPANCY AGREEMENT FOR 6012 NW 9TH COURT

 

Body

 

 

BACKGROUND:                     On July 10, 2024 the MCRA entered into a contract with the Family of God Ministry to purchase the property located at 6012 NW 9th Court.  After due diligence was completed, the MCRA closed on the property on October 9, 2024.   The Family of God Ministry, Inc. (Tenant) requested a post-occupancy lease for an eight-month (rent-free) period from October 9, 2024 through June 9, 2025 (copy attached).  It was agreed that the Tenant would place $100,000 in escrow with Weiss Serota and at the end of the lease period, the Tenant would

 

1)                     Provide written evidence that all costs associated with the occupancy are paid in full; and

2)                     Successfully vacate the Property and deliver in broom swept condition to the MCRA, within the Post-closing Occupancy Period (on or before the end of the day of June 9th, 2025).

 

On May 15, 2025, Jim Nardi, Advanced Asset Management, Inc., sent a courtesy letter to the Family of God Ministry reminding them of the terms of the agreement and the upcoming move-out date (copy attached).    Pastor Carlos responded to Mr. Nardi via email (copy attached) that the Church were experiencing delays with their new location in Tamarac and were not yet ready to move out.  It is unclear from this correspondence when they are expected to vacate the premises.

 

It is important to note, as part of the due diligence conducted on the property, the 40-year inspection revealed structural conditions that require repairs.  The MCRA retained an engineer to review the deficiencies, and he provided a written statement that the structure would be safe to occupy for a twelve-month period, (excluding force majeure events such as hurricanes, floods, extreme weather, fires, or other acts of God), which expires September 2, 2025. 

 

 

RECOMMENDATION:                     For Board direction

 

 

FISCAL IMPACT:                     $100,000 held in escrow by Weiss Serota to be released to the MCRA if the Tenant fails to meet the terms of the Post-Closing Occupancy Lease Agreement.

 

 

CONTACT PERSON:                      Cale Curtis, CRA Executive Director