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Margate CRA lets Prince of Peace Church stay rent-free until Aug. 31, 2025; escrow to cover $10,000/month if extended
Summary
The Margate Community Redevelopment Agency authorized an amendment to a post-occupancy agreement allowing Prince of Peace Church to remain at 6012 NW 9th Court rent-free through Aug. 31, 2025, requiring insurance and authorizing the CRA to deduct $10,000 per month from a $100,000 escrow if the church stays past that date.
The Margate Community Redevelopment Agency on Wednesday authorized an amendment to the post-occupancy agreement for the former Prince of Peace Church at 6012 Northwest Ninth Court, allowing the congregation to remain at the property rent-free through Aug. 31, 2025. The board directed the executive director to sign the amendment and agreed that if the church remains after Aug. 31 the CRA will deduct $10,000 per month from a $100,000 escrow held in trust by Weiser.
Board member Joanne Simone said she saw “no harm in letting them stay until Sept. 2,” noting the building will be demolished when the CRA takes possession, and recommended that the board make the extension final. Board member Simone’s suggestion for a firm end date framed the board’s action.
The issue arose because the CRA bought the property last year and closed with a post-occupancy agreement requiring the…
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