TO: Margate CRA Chair and Members of the Board
FROM: Cale Curtis, CRA Executive Director
DATE: May 14, 2025
Title
APPROVING A CONTRACT FOR THE SALE AND PURCHASE OF PROPERTY LOCATED AT 1100 NORTH STATE ROAD 7
BACKGROUND: The MCRA has contracted with BLL Corporation to purchase the property at 1100 North State Road 7 (currently operating as Country Haven Motel). A copy of the Commercial Contract and Addendum No. 1 are attached. A deposit has been placed in escrow through Weiss Serota and due diligence is underway including an appraisal, Building and Structural inspections, a Survey and a Phase I Environmental assessment. The sale of this property is contingent upon successful completion of due diligence and any requirements outlined in Addendum No. 1.
The property, located on the east side of State Road 7, is on a 1.135-acre lot and currently has a one and two-story motel building with two building structures. The assemblage of properties for the future development of the City Center area is part of the MCRA’s land acquisition strategy.
In accordance with the 2017 Margate Community Redevelopment Plan, Part 3, Section B - Redevelopment Policy, Goal III reads, “encourage the acquisition demolition, and reuse of those properties, which by virtue of their location, condition, or value no longer function at their highest potential economic use, are blighting influences or have a negative effect on revitalization efforts.” Further, a stated objective, “The Agency will regularly evaluate its approach to land acquisition to ensure that future acquisitions provide the greatest impact on fulfilling the objectives of the redevelopment program.”
RECOMMENDATION: Approval of the agreement to purchase the property located at 1100 North State Road 7
FISCAL IMPACT: Funding of $3,800,000 is available in Land Acquisition and Fees account #341-0510-512.61-05
CONTACT PERSON: Cale Curtis, CRA Executive Director