File #: ID 2024-315    Version: 1 Name:
Type: Discussion and Possible Action Status: Agenda Ready
File created: 9/17/2024 In control: Community Redevelopment Agency Special Meeting
On agenda: 9/30/2024 Final action:
Title: REVIEW AND RANK THE RESPONSES SUBMITTED TO COLLIERS INTERNATIONAL FLORIDA, INC. FOR THE MARGATE CITY CENTER DEVELOPMENT
Attachments: 1. BACKGROUND: SUMMARY REPORT ON DEVELOPER RESPONSES, 2. BACKGROUND: BROOKFIELD PROPERTIES, 3. BACKGROUND: D.R. HORTON, 4. BACKGROUND: KENCO COMMUNITIES, 5. BACKGROUND: THE MICHAELS ORGANIZATION, 6. BACKGROUND: RELATED GROUP, 7. BACKGROUND: SONNENBLICK DEVELOPMENT, 8. BACKGROUND: OFFERING MEMORANDUM, 9. BACKGROUND: ORIGINAL AGREEMENT
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TO:                     Margate CRA Chair and Members of the Board

 

FROM:                     Cale Curtis, CRA Executive Director

 

DATE:                     September 30, 2024

 

 

Title

REVIEW AND RANK THE RESPONSES SUBMITTED TO COLLIERS INTERNATIONAL FLORIDA, INC. FOR THE MARGATE CITY CENTER DEVELOPMENT

 

Body

 

 

BACKGROUND:                                           At the April 1, 2023, MCRA meeting the MCRA entered into an Agreement with Colliers International Florida, LLC to provide real estate brokerage, marketing, and advisory services for the 43.3± acres in the Margate City Center. 

 

In the following months, Colliers International Florida met with the Board to discuss the City Center Development and receive feedback.  A final draft of the resulting Offering Memorandum was presented to the Board at the October 11, 2023, meeting.  An update was provided by Colliers International Florida, Inc. at the April 10, 2024, meeting. 

 

As a result of the Offering Memorandum, six Developer Responses have been received.  The Board is being presented with a summary report of the responses by Mr. Ken Krasnow, Colliers International Florida, Inc. and his team.

 

 

RECOMMENDATION:                     For discussion and review.

 

 

FISCAL IMPACT:                     N/A

 

 

CONTACT PERSON:                      Cale Curtis, CRA Executive Director