The Margate Community Redevelopment Agency on April 9 considered a memorandum of understanding requested by BPG Acquisitions LLC (Brookfield Property Group) to begin an exclusive period of negotiations over the proposed Margate City Center development.

The MOU would give the CRA and Brookfield an exclusive negotiating window to work through long‑term lease and development agreements for parcels included in the city center offering. CRA attorney David Tulsa described the agreement as “an exclusive period of negotiation” intended to allow both sides to conduct public outreach and finalize site plans without the developer expending funds while lacking certainty the CRA would continue negotiations. Tulsa said either party may terminate the MOU with 30 days’ written notice and that the exclusive period would not exceed 12 months.

The proposal prompted extensive public comment focused on ACE Hardware Plaza, a small‑store shopping center on West Atlantic Boulevard home to long‑time, family‑run businesses. Several residents and tenants asked the CRA to preserve current tenants or provide longer, more certain leases.

Joey Ruiz, a tenant at ACE Hardware Plaza for 10 years, said the plaza is “a beautiful building” with long‑standing businesses and asked what the CRA could do “to give us confidence that we can stay here.” Resident Steve Strauss cautioned that replacing small retailers with higher‑end chains could price out current businesses. Elsa Sanchez urged the board to provide multi‑year leases so tenants “are safe.” Several speakers suggested mechanisms such as percentage leases or relocation assistance to help mom‑and‑pop operators transition if redevelopment proceeds.

Board members debated the MOU language and the effect of exclusivity on tenant negotiations. Some members said they did not want to remove any parcels from the negotiation portfolio because that would limit options for relocating or preserving existing businesses; others raised concerns that a broad exclusivity period could prolong uncertainty for tenants.

Multiple board members said the MOU is intended as a good‑faith negotiation commitment rather than a final development agreement. One board member noted the MOU allows a 30‑day termination if either party fails to perform and said they expected early meetings with Brookfield would reveal whether the developer is a good fit. Executive staff and the attorney said the agreement does not itself transfer property or finalize leases; any lease changes or property transfers would return to the board for approval.

No final development agreement was executed at the April 9 meeting. Instead, the board directed staff and counsel to negotiate with Brookfield, pursue public outreach, and return with a draft agreement, renderings and recommended terms for the board’s future consideration.

The discussion underscored competing priorities: residents seeking protection for long‑standing small businesses in ACE Plaza and officials seeking a structured negotiation process with a selected developer for a multi‑parcel city center project.

Looking ahead, the CRA will hold public outreach sessions with Brookfield and present any draft development or lease agreements at a future meeting for formal board action.