TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: September 10, 2025
Title
BOARD APPROVAL OF PROPOSED SITE PLANS FOR ATLANTIC CENTER PER THE TERMS OF THE GRANT AGREEMENT DATED MAY 14, 2025
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BACKGROUND: At the April 9, 2025 MCRA meeting, the Board reviewed a proposal from Current Capital Real Estate Group, owner of the Atlantic Center, requesting MCRA grant assistance to make exterior renovations to the shopping plaza located at 6828-6896 West Atlantic Boulevard. The initial proposal that was presented outlined improvements totaling $1,205,586 for which grant funding in an amount not to exceed $600,000 was requested. The Board authorized the Executive Director and the MCRA Attorney to draft a grant agreement to be brought back for their approval at the next meeting.
Prior to the May 14 MCRA meeting, Todd Nepola, President of Current Capital Real Estate Group and owner of Atlantic Center, submitted a revised proposal detailing the planned exterior improvements, totaling $1,234,370, as follows:
* Exterior Improvements - $372,161
* Dumpster - $12,220
* ADA Ramps - $26,788
* Monument Sign - $18,000
* Landscaping - $9,200
* Door and Windows - $261,495
* Architectural Plans - $36,500
* Civil Plans - $6,800
* Landscaping Plans - $5,900
* Roof Replacement - $320,000
* Roof A/C Brough Up to Code - $50,450
* Parking Lot Improvements-Asphalt - $114,856
The revised proposal included photos of the existing property and general conditions; photos of the 7th Avenue Village in Hallandale after which Atlantic Center will be modeled; conceptual renderings of the site; proposed budget for the project; and copies of proposals from each contractor working on the project. The Board approved the grant agreement for funding not to exceed $600,000 at the May 14 MCRA meeting. The Agreement called for Mr. Nepola to submit Project site plans with renderings to the MCRA Board for approval no later than 180 days after ...
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