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Atlantic Palms to pay Margate taxpayers in full
• Condo complex to pay city about $16,000
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Wednesday,
July 21, 2010
Vice President of the Atlantic Palms condominium association announced to city commissioners and the public last Wednesday that their association will pay the city for water, garbage and utility bills owed over the past year.
“Once we get this number you’ll be paid in full,” Chamely Toro told city officials.
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The 76-unit Atlantic Palms condominiums (Palms at Atlantic) are located on the north side of Atlantic Boulevard between State Rd. 7 and Rock Island Road. When the housing market crashed in 2008, unit owners in the complex either abandon their condos or stopped paying monthly association fees.
As a result, the condominium association had no money to pay for water, common utilities or trash removal for almost a year. To avoid health problems with children and seniors living in the community, the City of Margate paid their bills to the sum of roughly $26,000 including fines.
After numerous lengthy debates over the course of months at City Hall as to how to best deal with the situation, Toro announced at last Wednesday’s city commission meeting that her association is prepared to pay the bill in full, as long as the city could reduce the $11,000 owed in fines.
The city agreed to cut the fines in half, leaving Atlantic Palms owing about $16,000 in total.
Toro said the company that has taken over managing her complex will be paying the city directly, then recoup their costs as foreclosed units are sold and banks start paying association fees on units they own.
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