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Agenda 05-14-241.Call to Order 2.Invocation 3.Pledge of Allegiance 4.Roll Call 5.Agenda Approval 6.Legal 7.Informational Items and Disclosures by Board Members and CRA Staff: 8.Information Only A.Project Update on the Boynton Beach Office Condominium, LLC for the CRA-owned Properties Located at 1102-1110 N. Federal Highway 9.Announcements and Awards A.Rock the Plaza at Ocean Plaza on May 25, 2024 from 1:00 PM - 4:00 PM B.Rock the Marina at Boynton Harbor Marina on June 1, 2024 from 12:00 PM - 4:00 PM 10.Public Comments Community Redevelopment Agency Board Meeting Tuesday, May 14, 2024 - 6:00 PM City Hall Chambers, 100 E. Ocean Avenue and Online Meeting 561-737-3256 AGENDA REVISED 05/14/2024 A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda A. Disclosure of Conflicts, Contacts, and Relationships for Items Presented to the CRA Board on Agenda 1 11.Consent Agenda A.CRA Financial Report Period Ending April 30, 2024 B.Approval of the CRA Board Meeting Minutes for March 21, 2024 C.Approval of the CRA Board Meeting Minutes for April 9, 2024 D.Approval of an Interlocal Agreement (ILA) for Technical Support Services with the City of Boynton Beach for Board Meeting Management E.Approval of Second Amendment to the Interlocal Agreement between the City and CRA for the Historic Woman's Club of Boynton Beach located at 1010 S. Federal Highway F.Approval of the Commercial Property Improvement Grant Program in the Amount of $54,125 to Potiwa Pizza LLC located in the Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104 G.Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $10,937.88 to Potiwa Pizza LLC located in the Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104 H.Approval of the Commercial Property Improvement Grant Program in the Amount of $29,000 to Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1 I.Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $21,000 to Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1 J.Approval of the Commercial Property Improvement Grant Program in the Amount of $17,756.51 to Elite A & N Catering LLC d/b/a Armenia located at 1550 N. Federal Highway, Unit 12 K.Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $16,455 to Elite A & N Catering LLC d/b/a Armenia located in Ocean Palm Plaza at 1550 N. Federal Highway, Unit 12 L.Approval of the Commercial Property Improvement Grant Program in the Amount of $2,753.70 to Jken Boutique LLC located in Ocean Palm Plaza at 1600 N. Federal Highway, Unit 9 M.Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $21,000 to Beach House Boutique Inc. located at 1120 S. Federal Highway N.Approval of a 6-month Extension to the FY20-21 Commercial Rent Reimbursement The public comment section of the meeting is for public comment on items on the consent agenda or items that are not on the agenda. For items on the agenda, the public will be given an opportunity to comment at the time each item is considered. Each speaker will be given a total of three (3) minutes to comment; however the Board retains the right to reduce the number of minutes prior to the start of public comment. Persons making public comment may not assign or donate their public comment time to another individual to allow that other individual additional time to comment; however, any persons requiring assistance will be accommodated as required by the Americans with Disabilities Act. Prior to addressing the Board, please go to the podium or unmute your device when prompted, and state your name and address for the record. 2 Grant Program in the Amount of $7,500 for Appliance King of America Inc. located at 622 N. Federal Highway O.Approval of Tax Increment Revenue Funding Agreement (TIRFA) with BB1 Development LLC (aka Hyperion Group, LLC) (â€œBB1â€) for the Ocean One Project - REVISED 05/14/2024 12.Pulled Consent Agenda Items 13.CRA Advisory Board A.Pending Assignments - New Assignments from the CRA Board Assigned at the February 13, 2024 CRA Monthly Board Meeting B.Reports on Pending Assignments 14.Old Business A.Discussion and Consideration of the Boynton Beach Faith Based CDC's Request for Extension of Time to the Purchase and Development Agreement for the Properties located at 402 and 404 NW 12th Avenue B.Discussion and Consideration of the Submittals from the Request for Proposals for Property Appraisal Services C.Discussion and Consideration of Request to Extend Closing Date for the Cottage District Infill Housing Redevelopment Project D.Update on Status of Contract Negotiations with Candidate for New Executive Director 15.New Business A.Discussion and Consideration of the Purchase of 1017 North Railroad Avenue B.Discussion and Consideration of Purchase of 225 NE 9th Avenue C.Discussion and Consideration of Property License Agreement between the BBPD and the CRA for the Property located at 433 W. Boynton Beach Boulevard D.Discussion and Consideration of Property License Agreement between the BBPD and the CRA for the Property located at 106 NE 3rd Avenue E.Discussion and Consideration of Property License Agreement between the BBPD and the CRA for the Property located at 401 E. Boynton Beach Boulevard F.Discussion and Consideration of Increase in Funding for the FY 2023-2024 Economic Development Grant Programs G.Discussion and Consideration of the June 2024 CRA Board Meeting Date 16.CRA Projects in Progress A.Rock the Plaza at Ocean Palm Plaza Recap B.Social Media & Print Marketing Update C.Neighborhood Officer Program 2nd Quarter Report for FY 2023-2024 (January 2024 3 - March 2024) D.CRA Economic & Business Development Grant Program Update E.MLK Jr. Boulevard Corridor Mixed Use Project (d/b/a Heart of Boynton Village Apartments) Update - May 2024 17.Future Agenda Items A.Update on Negotiations with Maple Tree Investments in Response to the Second RFP/RFQ for the CRA-owned Property located at 401-411 E. Boynton Beach Boulevard - June 2024 B.Project Update for the CRA Owned Property Located at 211 E. Ocean Avenue - June 2024 18.Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256, AT LEAST 48 HOURS PRIOR TO THE PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRA'S WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRA'S WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. 4 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 INFORMATION ONLY AGENDA ITEM 8.A SUBJECT: Project Update on the Boynton Beach Office Condominium, LLC for the CRA-owned Properties Located at 1102-1110 N. Federal Highway SUMMARY: A Purchase and Development Agreement was entered into on January 12, 2021, between the CRA and the Boynton Beach Office Condominium, LLC for the properties located at 1110 & 1102 N. Federal Highway (see Attachments I & II). The Boynton Beach Office Condominium, LLC consists of a local radio station and a professional engineering/surveyor's office. In accordance with Paragraph 21(a) of the Purchase and Development Agreement, Boynton Beach Office Condominium, LLC submitted its application for site plan on September 10, 2021, and received site plan approval on February 18, 2022 (Attachment III). On January 14, 2022, the CRA received a confirmation letter of funding being held in escrow by the law firm of Assouline & Berlowe as construction funding for the project (Attachment IV). Per the Purchase and Development Agreement once Boynton Beach Office Condominium, LLC provided proof of financing and received site plan approval it had 90 days to submit its permit application to the City. Proof of permit application submittal was provided on May 18, 2022 (Attachment V). Since the submittal of the permit application on May 18, 2022, the plans have been through 3 review cycles (Attachments VI, VII & VIII). Once the permit has been issued a temporary or permanent Certificate of Occupancy must be provided within 24 months. Please see the attached update from Boynton Beach Office Condominium, LLC (Attachment IX). FISCAL IMPACT: FY 2020-2021 Budget, Project Fund, Line Item 02-58400-444, $50,000 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan, Federal Highway District CRA BOARD OPTIONS: No action by the CRA Board is required at this time. 5 •Attachment I - Location Map of 1102-1110 N. Federal Highway •Attachment II - Purchase and Development Agreement •Attachment III - NMSP 22-001 Site Plan Approval -1110-1102 N Fed Hwy •Attachment IV - Proof of Funds Letter •Attachment V - Proof of Permit Submittal - SAGES Project Status •Attachment VI - Permit Review Cycle 1 - Report •Attachment VII - Permit Review Cycle 2 - Report •Attachment VIII - Review Cycle 3 - Report •Attachment IX - 4.29.24 Email RE Project update on 1110-1102 N Fed Hwy ATTACHMENTS: Description 6 1110 N. Federal Hwy. 1102 N. Federal Hwy. 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 SBG25 SBG26 SBG27 28 29 30 31 32 33 34 35 36 City of Boynton Beach 100 E. Ocean Ave , Boynton Beach, Florida Review Cycl e Resu l ts PROJECT/CASE #:COMB-2022.09.6933 PROJECT/CASE NAME:Boynton Beach Office Condominium REVIEW CYCLE:1 PROCESS:Commercial Permit Application ADDRESS:1102 N FEDERAL HWY, Boynton Beach, FL 33435 REVIEW TYPE:Planning a nd Zoning REVIEW #:2022.09.16219 REVIEW RESU LT:D isapproved REVIEWED BY:L uis Bencosme REVIEWED ON:10/10/2022 REVIEW COMMENTS: Reviewer: Luis Bencosme (BencosmeL @bbf l.us) Review Comments: 1. The below Conditions of Approval included on the site plan approval letter have not been addressed by the applicant. The project includes two separate parcels. Be advised that a recorded Unity of Title is required prior to Building Permit approval. The City has a Unity of Title application process in place that must be completed prior to recordation with Palm Beach County. Please contact the Planning and Zoning Division (561-742-6260) to discuss the application process. Please amend the Site Plan (SP-1) tabular data to include the applicable C-4 Zoning District and Urban Commercial Overlay site/ building requirements (i.e. build-to-line, minimum setbacks, maximum lot coverage, maximum Floor Area Ratio (FAR) and maximum height). The project is located within the Urban Commercial Overlay. Therefore, an unobstructed Pedestrian Zone is required, consisting of following components: (1) a five (5) foot wide street tree area measured from the back of curb; 37 (2) an eight (8) foot wide sidewalk free of obstructions measured from the center line of the street tree area; and (3) an eight (8) foot wide active area. The entire walkway must be at least 8 feet wide. Correct the submit a revised Site Plan showing the required Pedestrian Area. Submit color elevations. Ensure the primary color of the building body (light gray) depicted on the renderings is not consistent with the darker gray depicted on the Proposed Elevations (A-200 & A- 300), as well as the color sample provided by the applicant. Be advised that the City encourages the use of cool light colors for the body of buildings to reflect rather than absorb heat and reduce cooling costs. Provide a color sample that matches the lighter shade of gray depicted on the on the renderings. Ensure the body color on the elevations are corrected. Reduce the width of the suspended canopy located on the south façade to not overlap the dark gray sheckrock cladding. Submit color details of the proposed covered bike rack. The remaining conditions o f approval included on the pro ject approval letter must be addressed with the site permit (CSIT-2022.05.3753). 2. Please submit a comments response letter. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Structural Re view REVIEW #:2022.09.16220 REVIEW RESU LT:D isapproved REVIEWED BY:Robert Coady REVIEWED ON:10/18/2022 REVIEW COMMENTS: REVIEWER: Robert Coady, EMAIL : coadyr@bbf l.us , 561-742-6354 Project/Case: COMB-2022.09.6933 PERMIT : 22- 4666 Review Cy cle: (01), 10-18-2022 AD D RESS: 1102 N FED ERAL HWY S cope: New Construction 3300 sq. f t. commercial building p/p (reached out to contractor contacts on application) NOTE: separate CSIT, site permit is required for below and above ground amenities. contact Engineering/Utilities/Public works contacts to review separate permit, application requirements. (see mark ups throughout) update throughout to the 2020 FBCB-7th edition note the 2014 code referenced. per FBCB-101.2 A) ONE S ET OF FINAL CONS T RUCT ION D RAWINGS : submit one set of final construction drawings, not multiple 27 page documents as submit. 38 1. Valuation D ocumentation, provide a copy of the invoicing/spread sheet for all divisions for all work. CSIT commercial site, and building construction. All materials and labor for all work. per cbb 109.3 no submit. 2. D IGIT AL SIGNATURES (3rd party vendor verified) per FAC-61 G15-23.004 Engineer, and 61G1-16.005 Architect required (not scanned copies) 3. provide, and add S -501 sheet submitted into Index Table, provide, submit missing page from plans set. S-600 per cbb 107.2.1 per cbb 107.2.1 4. S oils Testing, with recommendations. provide a soils testing per currently accepted engineering practices with recommendations (digital signature, 3rd party verified) per FBCB-1803. ( no submit) 5. S ite Plan, (SP-100, survey) provide C/L crown of road numbers at the property line (corners extended to C/L street ) and intersections for this multiple unit commercial project. per cbb Flood Prevention Ordinance f or non-special flood hazard zone "X" location. (incomplete submit) * provide, verif y the minimum FFE on the plans submit, Average C/L crown of the road Plus 12" required per cbb Flood Prevention ordinance. (incomplete design submit) 6. Life Saf ety Plan: remove the note referencing the FBCEB [not applicable] for all NEW CONSTRUCTION. per cbb 107.2.1 7. D EFERRED S UBMIT D ES IGN: provide a def erred submit on the CVR-design page to include and not limited to all design inf ormation not submit to construct. per cbb 107.3.4.1 [product approvals (window-door-roof ing), truss engineering, special inspector application/inspections (welding/bolting design) , signs, f encing, canopy 's, access ladder, .] incomplete submit 8. Roof Equipment access: per FBCM- (access over parapets between units) 40" height. 306.5 Equipment and appliances on roof s or elevated structures. Where equipment requiring access or appliances are located on an elevated structure or the roof of a building such that personnel will have to climb higher than 16 f eet above grade to access such equipment or appliances, an interior or exterior means of access shall be provided. Such access shall not require climbing over obstructions greater than 30 inches in height or walking on roofs having a slope greater than 4 units vertical in 12 units horizontal . Such access shall not require the use of portable ladders. Where access involves climbing over parapet walls, the height shall be measured to the top of the parapet wall. 9. S EPARATE T ENANT BUIL D OUT PERMITS REQUIRED : provide a design note on the CVR, code design requirements f or "separate tenant build out permits" by address f or each tenant space. per cbb 107.2.1, 105, 110. (not on the plans) required prior to issuance to construct. No pre-defin ed com m ents ha v e been provided. MARKUPS:File : Site Plan.pdf Type: S ite Plan Page #: 1 5. Site Plan, (S P-100, survey ) provide C/L crown of road numbers at the property line (corners extended to C/L street ) and intersections f or this multiple unit commercial project. per cbb Flood Prevention Ordinance f or non-special flood hazard zone "X" location. (incomplete submit) Robert Coady * provide, verify the minimum FFE on the plans submit, Average C/L crown of the road Plus 12" required per cbb Flood Prevention ordinance. Robert Coady 39 (incomplete design submit) File : BOY NTON BEACH OFFICE COND OMUNIUM 1.pdf Type: Plumbing D rawings Page #: 2 6. L if e S afety Plan: remove the note ref erencing the FBCEB [not applicable] f or all NEW CONSTRUCTION. per cbb 107.2.1 Robert Coady update throughout to the 2020 FBCB-7th edition note the 2014 code referenced. per FBCB-101.2 Robert Coady Page #: 1 7. D EFERRED SUBMIT D ESIGN: provide a deferred submit on the CVR- design page to include and not limited to all design inf ormation not submit to construct. per cbb 107.3.4.1 [product approvals (window-door-roofing), truss engineering, special inspector application/inspections, signs, f encing.] incomplete submit Robert Coady provide, submit missing page from plans set. S-600 per cbb 107.2.1 Robert Coady clarif y S -501 plans sheet submit not in index of pages. per cbb 107.2.1 Robert Coady Page #: 9 306.5Equipment and appliances on roofs or elevated structures. Where equipment requiring access or appliances are located on an elevated structure or the roof of a building such that personnel will have to climb higher than 16 f eet (4877 mm) above grade to access such equipment or appliances, an interior or exterior means of access shall be provided. Such access shall not require climbing over obstructions greater than 30 inches (762 mm) in height or walking on roofs having a slope greater than 4 units vertical in 12 units horizontal (33-percent slope). Such access shall not require the use of portable ladders. Where access involves climbing over parapet walls, the height shall be measured to the top of the parapet wall. Robert Coady REVIEW TYPE:Flood Revie w REVIEW #:2022.09.16221 REVIEW RESU LT:D isapproved REVIEWED BY:Robert Coady REVIEWED ON:10/18/2022 REVIEW COMMENTS: REVIEWER: Robert Coady, EMAIL: coadyr@bbfl.us , 561-742-6354 Project/Case: COMB-2022.09.6933 40 PERMIT: 22- 4666 Review Cycle: (01), 10-18-2022 ADDRESS: 1102 N FED ERAL HWY Scope : ne w comme rci al bl dg. p/p 5. S ite Plan, (SP-100, survey) provide C/L crown of road numbers at the property line (corners extended to C/L street ) and intersections for this multiple unit commercial project. per cbb Flood Prevention Ordinance for non-special f lood hazard zone "X" location. (incomplete submit) * provide, verif y the minimum FFE on the plans submit, Average C/L crown of the road Plus 12" required per cbb Flood Prevention ordinance. (incomplete design submit) No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Ele ctrica l Revie w REVIEW #:2022.09.16222 REVIEW RESU LT:D isapproved REVIEWED BY:Michael Baluyot REVIEWED ON:10/6/2022 REVIEW COMMENTS: Plan Reviewer: Michael Baluy ot, P.E. Email: baluy otm@bbf l.us Phone: 561-742-6367 1. Please provide a 3rd party verifiable digital signature per FAC 61G1-16.005. 2. The main service entrance conductors (#3/0) appears to be undersized. Please provide a total service load calculation for the service riser. NEC 220.40. 3. Please indicate AIC rating for main service disconnects and provide an available f ault current calculation for the the new meter stack and panels. NEC 110.9, 110.10, 110.24. 4. Will there be site lighting for the new parking lot? Please comply with COBB L D R, Ch. 4, Art. VII. 5. Please show power connections for A/C equipment on the electrical plan. Provide required receptacles within 25' of roof equipment. NEC 210.63, FBC 107.2.1. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. 41 REVIEW TYPE:Mechanical Re view REVIEW #:2022.09.16223 REVIEW RESU LT:D isapproved REVIEWED BY:L uis Crespo REVIEWED ON:10/5/2022 REVIEW COMMENTS: 10/05/22 1st Mechanical review**D enied** with comments Project/Case COMB-2022.09.6933 Boy nton Beach Office Condominium Note: A comprehensive review cannot be done now, and additional plan review comments may be generated upon re-reviewing submitted corrections. 1. On sheet M-100, a. Would you please provide a Florida product approval, NOA tie down, or a signed and sealed engineered sy stem per the 2020 BB Amendment to the FBC S ec. 107.2.1. Comment f or the contractor. b. T he verbiage is on top of each other and hard to read. Would y ou please correct this per the 2020 BB Amendments to the FBC S ec.107.2.1 Inf ormation on construction documents? c. FBC Energy 403.7: Provide heating/cooling sizing calculations for all new a/c. 2. On sheet M-200, would you please provide the AHRI report to the air showing system meets the required minimum ef f iciencies? (FBC, Energy Conservation C403.2.3) When resubmitting plans, please indicate the revision & remove any voided sheets & replace any necessary pages. If possible, a transmittal letter listing the original review comment number, with a description of the revision made, identifying the sheet or specif ication page where the changes can be found, will help expedite your permit. Thank y ou f or y our anticipated cooperation. L uis A. Crespo Plumbing/Mechanical Plan Examiner / Inspector email: crespol@bbfl.us office: 561 742-6758 https://codes.iccsaf e.org/codes/florida City of Boy nton Beach 2020 Amendments T o FBC No pre-defin ed com m ents ha v e been provided. MARKUPS:File : BOY NTON BEACH OFFICE COND OMUNIUM 1.pdf Type: Mechanical D rawings Page #: 23 Would you please provide a Florida product approval, NOA tie down, or a signed and sealed engineered system per the 2020 BB Amendment to the FBC Sec. 107.2.1. Comment for the contractor. L uis Crespo 42 T he verbiage is on top of each other and hard to read. Would y ou please correct this per the 2020 BB Amendments to the FBC Sec.107.2.1 Information on construction documents? L uis Crespo FBC Energy 403.7: Provide heating/cooling sizing calculations f or all new a/c. L uis Crespo Page #: 24 Would you please provide the AHRI report to the air showing system meets the required minimum efficiencies? (FBC, Energy Conservation C403.2.3) L uis Crespo REVIEW TYPE:Plumbing Revie w REVIEW #:2022.09.16224 REVIEW RESU LT:D isapproved REVIEWED BY:L uis Crespo REVIEWED ON:10/18/2022 REVIEW COMMENTS: 10/18/22 1st Plumbing Revision review**D enied** with comments Project/Case COMB-2022.09.6933 Note: A comprehensive review could not be done now, and additional plan review comments may be generated upon re-reviewing submitted corrections. 1. On sheet A-400, would you please provide a S torm Water f ormula and sizing table to verify the sizing of the sy stem that shall include the area of all vertical walls that divert rainwater to the roof in accordance with 2020 FBC S ec. P 1106.4. 2. On sheet P-100, T empered water shall be delivered through an approved water-temperature limiting device that conf orms to AS S E 1070 or CSA B125.3 per the 2020 FBC S ec. 419.5 Water for public hand- washing facilities. When resubmitting plans, please indicate the revision & remove any voided sheets & replace any necessary pages. Optional; if possible, a transmittal letter listing the original review comment number, with a description of the revision made, identif y ing the sheet or specification page where the changes can be f ound, will help expedite y our permit. T hank you for your anticipated cooperation. L uis A. Crespo Plumbing/Mechanical Plan Examiner / Inspector email: crespol@bbfl.us office: 561 742-6758 https://codes.iccsaf e.org/codes/florida 43 City of Boy nton Beach 2020 Amendments T o FB No pre-defin ed com m ents ha v e been provided. MARKUPS:File : BOY NTON BEACH OFFICE COND OMUNIUM 1.pdf Type: Plumbing D rawings Page #: 22 T empered water shall be delivered through an approved water-temperature limiting device that conf orms to AS S E 1070 or CSA B125.3 per the 2020 FBC S ec. 419.5 Water for public hand-washing f acilities. L uis Crespo Page #: 9 Would you please provide a S torm Water f ormula and sizing table to verify the sizing of the system that shall include the area of all vertical walls that divert rainwater to the roof in accordance with 2020 FBC S ec. P 1106.4 L uis Crespo REVIEW TYPE:Fire Revie w REVIEW #:2022.09.16225 REVIEW RESU LT:D isapproved REVIEWED BY:Emily Rodriguez REVIEWED ON:9/30/2022 REVIEW COMMENTS: Emily Rodriguez, Fire Inspector 561-436-1959, rodrigueze@bbfl.us Project/Case# COMB-2022.09.6933 A Detailed letter of response is required identifying how each comment has been addressed and identifying the sheet and detail number where the changes have been made. 1. On Sheet C-100, under "Building Codes" provide the correct year for the FFPC (2018) and NFPA 101 (2018). NFPA 1- 1.14.2 2. On Sheet C-100, under "Project Data & Occupant Load" provide the NFPA code reference for the occupancy type/load. NFPA 101 Table 7.3.1.2 3. On Sheet F-100, under "Fire Check List" Provide the NFPA code references to exiting requirements and interior finish etc. NFPA 1- 1.14.2 4. On Sheet F-100, under "Fire Notes" it states the building is sprinkled. However, on Sheet C-100, under "Project Data & Occupant load; Code Research" it states the building is not sprinkled. Please clarify. NFPA 1- 1.14.2 44 5. On sheet F-100, under "Fire Notes" it states the tenant separation walls are 2 hour rated, however on the drawing of the walls it states each tenant wall is one hour rated. Please clarify the wall ratings. NFPA 1- 1.14.2; 101- 6.1.14.4.1 6. On sheet F-100, all egress doors shall open towards the path of egress. All (4) doors opening inwards must open outward to follow the path of egress/travel. NFPA 101- 7.2.1.1.2 7. On sheet F-100, provide the width of each exit door for egress capacity. NFPA 101- 38.2.3 8. Provide a note indicating in all new and existing buildings, minimum radio-signal strength for fire department communications shall be maintained at a level determined by the AHJ in accordance with NFPA 1 – 11.10.1 9. Indicate on the plans that the building and all unit spaces will have address numbers facing the street with a minimum 6- inch height. NFPA 1 – 10.11.1.1 10. Provide a list of deferred submittals for the canopies and fence/gate. NFPA 1- 1.14.2 11. Identify whether the building has a fire detection/alarm system. If so, provide notes requiring a separate permit for fire alarm alterations before commencing work. NFPA 1- 13.1.1 12. Separate permit required for the site plan to be reviewed. NFPA 1- 1.14.2 No pre-defin ed com m ents ha v e been provided. MARKUPS:File : BOY NTON BEACH OFFICE COND OMUNIUM 1.pdf Type: Architectural D rawings Page #: 2 _Emily Rodriguez 2018 Emily Rodriguez NFPA 101- 7.2.1.5.5.1; 38.2.2.2.2 Emily Rodriguez REVIEW TYPE:Enginee ring Revie w REVIEW #:2022.09.16226 REVIEW RESU LT:D isapproved REVIEWED BY:Shiloh T oler REVIEWED ON:10/20/2022 REVIEW COMMENTS: None of the on-site and of f -site improvements shall be constructed or modif ied without f irst securing the necessary city approvals and permits: A L and D evelopment Permit is required. 45 Permits required f rom other permitting agencies such as Florida D epartment of Transportation (FD OT), S outh Florida Water Management D istrict (SFWMD ), Lake Worth D rainage D istrict (LWD D ), Florida D epartment of Environmental Protection (FD EP), Palm Beach County Health D epartment (PBCHD ), Palm Beach County Engineering D epartment (PBCED ), Palm Beach County D epartment of Environmental Resource Management (PBCD ERM) and any others, shall be required prior to issuance of a L and D evelopment Permit. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Public Work s Revie w REVIEW #:2022.09.16228 REVIEW RESU LT:Approved REVIEWED BY:Carl Frumenti REVIEWED ON:10/17/2022 REVIEW COMMENTS: Roll out containers used for waste services - proposed rollout corral OK as submitted. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Public Art Revie w REVIEW #:2022.10.16912 REVIEW RESU LT:D isapproved REVIEWED BY:Glenn Weiss REVIEWED ON:10/13/2022 REVIEW COMMENTS: D rawing A-300 does not provide the clear wall for a mural on the eastern side of the south wall. T he 46 awning should be removed on the eastern part and the wooden panel above the eastern window should be stucco. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Utilitie s Revie w REVIEW #:2022.09.16227 REVIEW RESU LT:Not Applicable REVIEWED BY:Milot Emile REVIEWED ON:10/26/2022 REVIEW COMMENTS: Not Applicable. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. 47 City of Boynton Beach 100 E. Ocean Ave , Boynton Beach, Florida Review Cycle Results PROJECT/CASE #:COMB-2022.09.6933 PROJECT/CASE NAME:Boynton Beach Office Condominium REVIEW CYCLE:2 PROCESS:Commercial Permit Application ADDRESS:1102 N FEDERAL HWY, Boynton Beach, FL 33435 REVIEW TYPE:Planning a nd Zoning REVIEW #:2022.09.16219 REVIEW RESU LT:D isapproved REVIEWED BY:L uis Bencosme REVIEWED ON:5/19/2023 REVIEW COMMENTS: Reviewer: Luis Bencosme (BencosmeL @bbf l.us) Please address the below review comments. 1. Approval of the the associated site improvements permit (CS IT -2022.05.3753) is required prior to Planning and Zoning approval of this Building Permit application (COMB-2022.09.6933). 2. Prior to permit approval, the project is required to have either a recorded Unity of Title (if the properties have a single owner), or a recorded Unity of Control (if the properties have multiple owners). Be advised that Platting may be required if the intent is to create a condominium with multiple owners and a common area. The City has a Unity of Title and Unity of Control application process in place that must be completed prior to recordation with Palm Beach County. Please contact the Planning and Zoning D ivision (561-742-6260) to discuss the application process. 3. The building colors depicted on the elevations (A-200 & A300) are very dark and inconsistent with the approved building colors shown on the approved renderings. Provide color samples that match the the approved colors and correct the colors on the elevations. 4. The remaining conditions of approval included on the project approval letter must be addressed with the site permit (CS IT -2022.05.3753). 48 No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Structural Re view REVIEW #:2022.09.16220 REVIEW RESU LT:D isapproved REVIEWED BY:Robert Coady REVIEWED ON:5/23/2023 REVIEW COMMENTS: REVIEWER: Robert Coady, EMAIL: coadyr@bbfl.us , 561-742-6354 Project/Case: COMB-2022.09.6933 PERMIT: 22- 4666 Review Cycle: (02), 05-23-2023 ADDRESS: 1102 N FEDERAL HWY Scope: New Construction 3300 sq. ft. commercial building p/p (reached out to contractor contacts on application) (see mark ups throughout) * Please submit ( 1 ) Final set of construction drawings, not ( 6) as submit this cycle. (not corrected TBD, contractor) 1. Valuation Documentation, provide a copy of the invoicing/spread sheet for all divisions for all work. per cbb 109.3 no submit. New comments based on Narrative and plans submit this cycle: A) Tenant separation required (designed 1 hr. rating, w/parapet), by design and definition is this a fire wall, fire barrier, fire partition, smoke barrier, or smoke partition, per cbb 107.2.1 incomplete design submit * plans design provide a ( 1 ) hour USB fire resistant assembly (line item on the plans) per cbb 107.2.1 * (S-200, S-400) the structural sectional details are in complete for the ( 1 ) hour design, sectional detail (footer through top of wall), (sheet A-500, and roof plan) clarify the partial parapet design removal in section design specific to the rated assembly termination at the underside of the roof based on the design ( clarification design requested in previous comments (A). per cbb 107.2.1 (not corrected multiple architectural plans submit) 5. Site Plan, (SP-100, Architectural page) provide the consistent proposed FFE 11.50 on this page, per cbb 107.2.1 (incomplete submit) (not corrected) 9. SEPARATE TENANT BUILD OUT PERMITS REQUIRED: provide a design note on the CVR, code design requirements for "separate tenant build out permits" by address for each tenant space. per cbb 107.2.1, 105, 110. (not on the plans) required prior to issuance to construct. No pre-defin ed com m ents ha v e been provided. 49 MARKUPS:File : BBOC Architectural Plans 05-8-2022 S &S .pdf Type: S tructural D rawings Page #: 1 (not corrected) 9. S eparate tenant build out permits required: provide a design not on the CVR page, design requirements for "separate tenant build out permits" by address required, each tenant space by address. per cbb 107.2.1, 105, 110. Robert Coady Page #: 19 * (S -200, S -400) the structural sectional details are in complete for the ( 1 ) hour design, sectional detail (f ooter through top of wall), (sheet A-500, and roof plan) clarif y the partial parapet design removal in section design specific to the rated assembly termination at the underside of the roof based on the design ( clarification design requested in previous comments (A). per cbb 107.2.1 Robert Coady Page #: 20 * (S -200, S -400) the structural sectional details are in complete for the ( 1 ) hour design, sectional detail (f ooter through top of wall), (sheet A-500, and roof plan) clarif y the partial parapet design removal in section design specific to the rated assembly termination at the underside of the roof based on the design ( clarification design requested in previous comments (A). per cbb 107.2.1 Robert Coady Page #: 2 A) T enant separation required (designed 1 hr. rating, w/parapet), by design and def inition is this a fire wall, f ire barrier, fire partition, smoke barrier, or smoke partition, per cbb 107.2.1 incomplete design submit * plans design provide a ( 1 ) hour USB fire resistant assembly (line item on the plans) per cbb 107.2.1 * (S-200, S-400) the structural sectional details are in complete f or the ( 1 ) hour design, sectional detail (f ooter through top of wall), (sheet A-500, and roof plan) clarify the partial parapet design removal in section design specif ic to the rated assembly termination at the underside of the roof based on the design ( clarif ication design requested in previous comments (A). per cbb 107.2.1 Robert Coady Page #: 12 * (S -200, S -400) the structural sectional details are in complete for the ( 1 ) hour design, sectional detail (f ooter through top of wall), (sheet A-500, and roof plan) clarif y the partial parapet design removal in section design specific to the rated assembly termination at the underside of the roof based on the design ( clarification design requested in previous comments (A). per cbb 107.2.1 Robert Coady REVIEW TYPE:Flood Revie w 50 REVIEW #:2022.09.16221 REVIEW RESU LT:Approved REVIEWED BY:Robert Coady REVIEWED ON:5/22/2023 REVIEW COMMENTS: No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Ele ctrica l Revie w REVIEW #:2022.09.16222 REVIEW RESU LT:Approved REVIEWED BY:Jose Santiago REVIEWED ON:5/15/2023 REVIEW COMMENTS: No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Mechanical Re view REVIEW #:2022.09.16223 REVIEW RESU LT:Approved REVIEWED BY:L uis Crespo REVIEWED ON:5/19/2023 REVIEW COMMENTS: No pre-defin ed com m ents ha v e been provided. 51 MARKUPS:File : BBOC Architectural Plans 05-8-2022 S&S.pdf Type : Mechanical D rawings Page #: 1 •L uis Crespo AND AHRI CERT IFICATE.L uis Crespo Page #: 26 R/ The units specif ied on sheet M-200 allow the mechanical contractor to install equivalent units. The mechanical contractor shall submit AHRI reports f or the units that will be installed (def erred submittal). L uis Crespo Page #: 27 R/ The units specif ied on sheet M-200 allow the mechanical contractor to install equivalent units. The mechanical contractor shall submit AHRI reports f or the units that will be installed (def erred submittal). L uis Crespo REVIEW TYPE:Plumbing Revie w REVIEW #:2022.09.16224 REVIEW RESU LT:Approved REVIEWED BY:L uis Crespo REVIEWED ON:5/19/2023 REVIEW COMMENTS: No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Fire Revie w REVIEW #:2022.09.16225 REVIEW RESU LT:Approved REVIEWED BY:Emily Rodriguez REVIEWED ON:5/10/2023 REVIEW COMMENTS: 52 No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Enginee ring Revie w REVIEW #:2022.09.16226 REVIEW RESU LT:D isapproved REVIEWED BY:Shiloh T oler REVIEWED ON:5/23/2023 REVIEW COMMENTS: None of the on-site and of f -site improvements shall be constructed or modif ied without f irst securing the necessary city approvals and permits: A L and D evelopment Permit is required. Permits required f rom other permitting agencies such as Florida D epartment of Transportation (FD OT), S outh Florida Water Management D istrict (SFWMD ), Lake Worth D rainage D istrict (LWD D ), Florida D epartment of Environmental Protection (FD EP), Palm Beach County Health D epartment (PBCHD ), Palm Beach County Engineering D epartment (PBCED ), Palm Beach County D epartment of Environmental Resource Management (PBCD ERM) and any others, shall be required prior to issuance of a L and D evelopment Permit. No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Utilitie s Revie w REVIEW #:2022.09.16227 REVIEW RESU LT:Approved REVIEWED BY:Milot Emile REVIEWED ON:5/17/2023 REVIEW COMMENTS: 53 Boy nton Beach Utilities has reviewed the referenced projects and has the following comment: 1. A CS IT above ground permit is required, and the civil drawings should be submitted within. Thanks No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Public Work s Revie w REVIEW #:2022.09.16228 REVIEW RESU LT:Approved REVIEWED BY:Carl Frumenti REVIEWED ON:5/11/2023 REVIEW COMMENTS: No pre-defin ed com m ents ha v e been provided. MARKUPS:No markups ha ve been provided. REVIEW TYPE:Public Art Revie w REVIEW #:2022.10.16912 REVIEW RESU LT:D isapproved REVIEWED BY:Glenn Weiss REVIEWED ON:5/30/2023 REVIEW COMMENTS: The Art Advisory Board rejected this location and size f or the public art as the artwork would be blocked by the street trees. The applicant agreed verbally to a mural on the south elevation. No pre-defin ed com m ents ha v e been provided. 54 MARKUPS:No markups ha ve been provided. 55 City of Boynton Beach 100 E. Ocean Ave , Boynton Beach, Florida Review Cycl e Resu l ts PROJECT/CASE #:COMB-2022.09.6933 PROJECT/CASE NAME:Boynton Beach Office Condominium REVIEW CYCLE:3 PROCESS:Commercial Permit Application ADDRESS:1102 N FEDERAL HWY, Boynton Beach, FL 33435 REV IEW TYPE:Planning and Zoning REV IEW #:2022.09.16219 REV IEW RESU LT:D isapproved REV IEWED BY:Luis Benc os me REV IEWED ON:12/5/2023 REV IEW C OMMENTS:Reviewer: Luis Benc os me (Benc os meL@ bbf l.us ) / 561-742-6262 Pleas e address the below review c omments : 1. A Unity of Control mus t be rec orded prior to approval of any permit applications ass oc iated with the Boynton Beach Off ic e Condominium development. Please provide evidence of the recorded document (i.e. recordation rec eipt from Palm Beach County). 2. Approval of the ass oc iated Building Permit f or the s ite improvements (CSIT-2022.05.3753) is required prior to approval of this building permit. Pleas e ensure this permit is updated to inc lude the stamped c opy of the latest approved s ite plan from CS I T -2022.05.3753. 3. The colors shown on the elevations do not match the lighter color palette pres ented on the approved renderings and provided color samples, as requested on the S ite Plan Conditions of Approval (COA) document. Please refer to the below COA and revis e the elevations to match the approved c olors . COA #6: The primary color of the building body (light gray) depicted on the renderings is not consistent with the darker gray depicted on the Proposed Elevations (A-200 & A-300), as well as the color sample provided by the applicant. Be advised that the City encourages the use of cool light colors for the body of buildings to reflect rather than absorb heat and reduce cooling costs. Provide a color sample that matches the lighter shade of gray depicted on the on the renderings. Ensure the body color on the elevations are corrected. 4. Be advised that the required amenities (i.e. bik e rac k , trash c ans, benches , etc .) mus t be permitted and ins talled prior to approval of any building permit inspec tions f or this development. 5. Please s ubmit a c omments response letter addres sing the above review c omments . Be advis ed that additional submittals may trigger subs equent review comments. No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. 56 REV IEW TYPE:Structural Rev iew REV IEW #:2022.09.16220 REV IEW RESU LT:D isapproved REV IEWED BY:Robert Coady REV IEWED ON:12/5/2023 REV IEW C OMMENTS: REVIEWER: Robert Coady, EMAIL: coadyr@bbfl.us , 561-742-6354 Project/Case: COMB-2022.09.6933 PERMIT: 22- 4666 Review Cycle: (02), 12-05.23 ADDRESS: 1102 N FEDERAL HWY Scope: New Construction 3300 sq. ft. commercial building p/p (reached out to contractor contacts on application) (see mark ups throughout) * Please submit ( 1 ) Final set of construction drawings, not multiple as submit this cycle. * PLEASE REMOVE THE DUPLICATE SETS OF ARCHITECTURAL PLANS SUBMIT (only 1 final set of drawings to submit) "WORK AROUND" upload bland 8-1/2 x 11" sheet (see other files submit) and reach out to the "INTAKE STAFF" with any process questions (main phone contacts list) per cbb online submit guidelines. New c omment based on the Energy Code c omplianc e reporting requirements f or New c ommercial building: (no submit to date) A) R103.1.1Compliance certification. R103.1.1.1Code compliance de monstration., R103.1.1.1.2 Comme rcial and multiple -family re side ntial. Completion of procedures demonstrating compliance with this code for multiple-family residential buildings shall be in accordance with the provisions of Section 481.229, Florida Statutes, or Section 471.003, Florida Statutes. Exception: W here HVAC systems are nominal 15 tons per system or smaller, commercial building energy raters certified in accordance with Section 553.99, Florida Statutes, or as authorized by Florida Statutes, may prepare the code compliance form (not corrected TBD, contractor) 1. Valuation Documentation, provide a copy of the invoicing/spread sheet for all divisions for all work. per cbb 109.3 no submit. New comments based on Narrative and plans submit this cycle: A) *( Roof Plan not corrected, parapet design does not continue to outside of building exterior walls) Tenant separation required (designed 1 hr. rating, w/parapet), by design and definition is this a fire wall, fire barrier, fire partition, smoke barrier, or smoke partition, per cbb 107.2.1 incomplete design submit * (not corrected X2) 9. SEPARATE TENANT BUILD OUT PERMITS REQUIRED: provide a design note on the CVR, code design requirements for "separate tenant build out permits" by No pre de fined c omme nts have bee n provided. MA RKU PS:File: BBOC Arc hitec tural Plans S&S 11-16- 2023.pdf Ty pe: S upporting D ocuments Page #: 1 provide digital signature per FAC-61G1-16.005 and remove multiple arc hitec tural set of plans per c bb online s ubmit guidelines Robert Coady REV IEW TYPE:Flood Rev iew REV IEW #:2022.09.16221 REV IEW RESU LT:Approved 57 REV IEWED BY:S Y S T EM REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Elec trical Rev iew REV IEW #:2022.09.16222 REV IEW RESU LT:Approved REV IEWED BY:S Y S T EM REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Mechanic al Rev iew REV IEW #:2022.09.16223 REV IEW RESU LT:Approved REV IEWED BY:S Y S T EM REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Plumbing Rev iew REV IEW #:2022.09.16224 REV IEW RESU LT:Approved REV IEWED BY:S Y S T EM REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Fire Rev iew REV IEW #:2022.09.16225 58 REV IEW RESU LT:Approved REV IEWED BY:S Y S T EM REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Engineering Rev iew REV IEW #:2022.09.16226 REV IEW RESU LT:D isapproved REV IEWED BY:S hiloh T oler REV IEWED ON:11/30/2023 REV IEW C OMMENTS:None of the on-s ite and off -site improvements shall be c onstructed or modified without first securing the nec es sary c ity approvals and permits: A Land D evelopment Permit is required. Permits required from other permitting agencies s uc h as Florida D epartment of Trans portation (FD OT ), South Florida W ater Management D istrict (S FW MD ), Lak e W orth D rainage D istrict (LW D D ), Florida D epartment of Environmental Protec tion (FD EP), Palm Beach County Health D epartment (PBCHD ), Palm Beach County Engineering D epartment (PBCED ), Palm Beac h County D epartment of Environmental Res ource Management (PBCD ERM) and any others, s hall be required prior to iss uanc e of a Land D evelopment Permit. No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:U tilities Rev iew REV IEW #:2022.09.16227 REV IEW RESU LT:Approved REV IEWED BY:S Y S T EM REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Public Works Rev iew REV IEW #:2022.09.16228 REV IEW RESU LT:Approved REV IEWED BY:S Y S T EM 59 REV IEWED ON:11/16/2023 REV IEW C OMMENTS:Review Cycle 3 S tarted, does not require re-review No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. REV IEW TYPE:Public Art Rev iew REV IEW #:2022.10.16912 REV IEW RESU LT:D isapproved REV IEWED BY:S tac y Irs ay REV IEWED ON:12/4/2023 REV IEW C OMMENTS: Pleas e complete Public Art Choice Form. It is in the Uploaded Files s ec tion. Pleas e provide an update on the s tatus of previous Public Art Review c omments : On 5/30/23, the Public Art Review w as dis approved. The Art Advis ory Board rejec ted the location and artwork size becaus e it w ould be bloc k ed by trees. T he applicant verbally agreed to a mural on the s outh elevation. Has this been c hanged in the plan? On 10/13/22, the Public Art Review was disapproved becaus e the aw ning needed to be removed on the eas tern part and the wooden panel above the eastern w indow needed to be c hanged to s tuc co. Has this been res olved? No pre de fined c omme nts have bee n provided. MA RKU PS:No markups have been provided. 60 61 •Attachment I - Promotional Poster COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 ANNOUNCEMENTS AND AWARDS AGENDA ITEM 9.A SUBJECT: Rock the Plaza at Ocean Plaza on May 25, 2024 from 1:00 PM - 4:00 PM SUMMARY: On Saturday, May 25, 2024, the BBCRA will host Rock the Plaza at the Ocean Plaza property, which is located at 640 E. Ocean Avenue. Free parking will be available onsite and at 115 N. Federal Highway. The free promotional activation, which will take place from 1:00 p.m. to 4:00 p.m., will spotlight the businesses that are located within the shopping plaza and feature live music from the band Girlfriend Material. Food and beverages will be available for purchase from the restaurants located within the plaza. Additionally, event goers will be able to take advantage of special Boynton Beach Bucks offers at participating businesses. To maximize customer outreach, BBCRA staff will also provide social media assistance to interested businesses in the plaza prior to the event to increase marketing and cross promotional opportunities. Please see Attachment I for the branded promotional poster that will be distributed to businesses throughout the BBCRA area and at City of Boynton Beach municipal buildings. FISCAL IMPACT: FY 2023 - 2024 Budget, Project Fund, Line Item 02-58500-480 - $30,000. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required from the CRA Board at this time. ATTACHMENTS: Description 62 FREE EVENTFREE EVENT MAY 25MAY 25 TH TH - 1-4PM- 1-4PM OCEAN PLAZAOCEAN PLAZA BBOYNTONOYNTONBBEACHEACHCRACRA.COM.COM 640 E. OCEAN AVENUE640 E. OCEAN AVENUE MUSIC BYMUSIC BY GIRLFRIEND MATERIALGIRLFRIEND MATERIAL 63 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 ANNOUNCEMENTS AND AWARDS AGENDA ITEM 9.B SUBJECT: Rock the Marina at Boynton Harbor Marina on June 1, 2024 from 12:00 PM - 4:00 PM SUMMARY: On Saturday, June 1, 2024, the CRA will host Rock the Marina at the Boynton Harbor Marina. ROCK THE MARINA DETAILS The free promotional activation will take place from 12:00 p.m. to 4:00 p.m. at the Boynton Harbor Marina, which is located at 735 Casa Loma Boulevard. Free parking will available in the public parking lot located at 115 N. Federal Highway and in the adjacent parking lots located on NE 1st Avenue that are west of The Boardwalk Italian Ice & Creamery. Additionally, paid parking will be available inside of the Marina Village parking garage. The promotion will feature live music from Paul Anthony & The Reggae Souljahs, exhibits from marine-related non-profits, business features, family-friendly activities, and more. Event patrons are encouraged to visit the restaurants located at the Marina, as outside food vendors will not be present. Cocktails and light bites will be available for purchase from Two Georges Waterfront Grille, Marina Cafe, and Banana Boat. MARINA MONTH DETAILS Marina Month presents a unique opportunity for businesses to gain additional exposure during the slower season and connect with new customers. As part of the program, marine-related businesses within the BBCRA area will have the opportunity to customize special deals tailored to their offerings. The promotions will be run via the BBCRA’s Boynton Beach Bucks program, which is a same as cash, reimbursable initiative that incentivizes residents and visitors to support our local business community. Special Marina Month deals will be promoted for restaurants, recreational charters, and retail stores throughout the entire month of June. Attachment I – Promotional Flyer FISCAL IMPACT: 64 •Attachment I - Promotional Flyer FY 2023 - 2024 Budget, Project Fund, Line Item 02-58500-480, $50,000. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required from the CRA Board at this time. ATTACHMENTS: Description 65 Boynton Harbor MarinaBoynton Harbor Marina 735 Casa Loma Blvd.735 Casa Loma Blvd. JUNE 1 12-4PMST Boating - Dining - Fishing - Cruising - DivingBoating - Dining - Fishing - Cruising - Diving Free EventFree Event LIVE MUSIC BY Paul Anthony & the Reggae SouljahsPaul Anthony & the Reggae Souljahs SPECIAL DEALS FOR BOYNTONBEACHCRA.COM 66 •Attachment I - April 2024 Financial Summary COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.A SUBJECT: CRA Financial Report Period Ending April 30, 2024 SUMMARY: CRA Financial Services staff is providing the CRA Board with the April 30, 2024 (Attachment I): Statement of Revenues, Expenditures and Changes in Fund Balance Report, and Budget Comparison Schedule - General Fund. FISCAL IMPACT: FY 2023-2024 Annual Budget CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan and FY 2023-2024 CRA Budget CRA BOARD OPTIONS: Approve the CRA's monthly financial and budget reports for the period ending April 30, 2024. ATTACHMENTS: Description 67 General Fund Projects Fund Debt Service Fund Total Governmental Funds REVENUES Tax increment revenue 21,555,333 - - 21,555,333 Marina Rent & Fuel Sales 1,264,869 - - 1,264,869 Contributions and donations - - - - Interest and other income 219,752 462,130 27,212 709,093 Total revenues 23,039,954 462,130 27,212 23,529,296 EXPENDITURES General government 2,565,319 - - 2,565,319 Redevelopment projects - 4,987,955 - 4,987,955 Debt service:- Principal - - - - Interest and other charges - - 87,235 87,235 Total expenditures 2,565,319 4,987,955 87,235 7,640,509 20,474,635 (4,525,824) (60,023) 15,888,787 OTHER FINANCING SOURCES (USES) Funds Transfers in - 17,139,098 2,135,817 19,274,915 Funds Transfers out (19,274,915) - - (19,274,915) Total other financing sources (uses) (19,274,915) 17,139,098 2,135,817 - Net change in fund balances 1,199,720 12,613,274 2,075,794 15,888,787 Fund balances - beginning of year 4,460,185 13,283,370 176,014 17,919,569 Fund balances - end of year 5,659,905 25,896,644 2,251,808 33,808,356 Footnote: Transfers between funds include monies received from TIF and carryover from general fund balance. Excess (deficiency) of revenues over expenditures BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Statement of Revenues, Expenditures and Changes in Fund Balances Through Year to Date - April 30, 2024 (A Component Unit of the City of Boynton Beach, Florida) The notes to the basic financial statements are an integral part of this statement. 1 68 Original Budget Final Budget Actual REVENUES Tax increment revenue 21,496,558$ 21,496,558$ 21,555,333 Marina Rent & Fuel Sales 1,100,000 1,100,000 1,264,869 Interest and other income - - 219,752 Other financing sources (uses) - 1,678,357 - Total revenues 22,596,558 24,274,915 23,039,954 EXPENDITURES General government 5,000,000 5,104,949 2,565,319 Total expenditures 5,000,000 5,104,949 2,565,319 17,596,558 19,169,966 20,474,635 OTHER FINANCING SOURCES (USES) Carryover fund balance - Transfers out (17,596,558) (19,274,915) (19,274,915) Total other financing sources (uses) (17,596,558) (19,274,915) (19,274,915) Net change in fund balances -$ (104,949)$ 1,199,720 Fund balances - beginning of year 4,460,185 Fund balances - end of year 5,659,905 Excess of revenues over expenditures BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Budgetary Comparison Schedule General Fund Through Year to Date - April 30, 2024 The notes to the basic financial statements are an integral part of this statement. 1 69 5/1/2024 3:45:37 PM Page 1 of 5 Detail vs Budget Report Boynton Beach CRA, FL Account Summary Date Range: 04/01/2024 - 04/30/2024 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01 - GENERAL FUND Revenue 01-41000 T.I.F. COLLECTIONS 58,775.00-21,555,333.00152,534.00-21,707,867.00-21,496,558.000.00 0.27% 01-42115 MARINA RENTS -15,601.11-84,398.89-12,794.00-71,604.89-100,000.000.00 -15.60% 01-42116 MISCELLANEOUS RENTS FRO PROPER 150,635.75-150,635.75-21,929.69-128,706.060.000.00 0.00% 01-42117 MARINA FUEL SALES 32,299.92-1,032,299.92-246,973.61-785,326.31-1,000,000.000.00 3.23% 01-42118 MARINA MISC INCOME -2,465.472,465.474,519.73-2,054.260.000.00 0.00% 01-46100 INTEREST INCOME 80,034.21-80,034.21-6,516.32-73,517.890.000.00 0.00% 01-47200 IN KIND REVENUE 89,618.19-89,618.19-15,711.17-73,907.020.000.00 0.00% 01-48100 MISCELLANEOUS INCOME 50,099.18-50,099.18-12,181.57-37,917.610.000.00 0.00% 01-49100 OTHER FINANCING SOURCES -1,678,357.000.000.000.00-1,678,357.000.00 -100.00% Revenue Totals:0.00 -24,274,915.00 -22,880,901.04 -159,052.63 -23,039,953.67 -1,234,961.33 -5.09% Expense 01-51010-200 CONTRACTUAL EXPENSE 35,456.849,560.911,697.507,863.4145,017.750.00 78.76% 01-51010-216 ADVERTISING & PUBLIC NOTICES 7,792.97207.03207.030.008,000.000.00 97.41% 01-51010-225 ASSOC. MEETINGS & SEMINARS 23,777.874,767.130.004,767.1328,545.000.00 83.30% 01-51010-227 DELIVERY SERVICES 111.00139.000.00139.00250.000.00 44.40% 01-51010-310 OFFICE SUPPLIES 336.7963.2127.1336.08400.000.00 84.20% 01-51230-100 PERSONNEL SERVICES 223,792.17221,843.8519,661.80202,182.05445,636.020.00 50.22% 01-51230-115 CAR ALLOWANCE 5,310.274,289.73276.924,012.819,600.000.00 55.32% 01-51230-225 ASSOC. MEETINGS & SEMINARS 14,097.671,402.330.001,402.3315,500.000.00 90.95% 01-51230-226 MEMBERSHIP DUES 11,457.085,842.920.005,842.9217,300.000.00 66.23% 01-51230-227 DELIVERY SERVICES 400.000.000.000.00400.000.00 100.00% 01-51230-229 CAREER DEVELOPMENT 26,000.000.000.000.0026,000.000.00 100.00% 01-51230-310 OFFICE SUPPLIES 1,949.12550.8839.39511.492,500.000.00 77.96% 01-51230-315 POSTAGE 2,700.00300.00100.00200.003,000.000.00 90.00% 01-51230-340 CELLULAR PHONES 1,852.28647.7296.45551.272,500.000.00 74.09% 01-51230-355 SUBSCRIPTIONS 556.66443.340.00443.341,000.000.00 55.67% 01-51230-360 BOOKS & PUBLICATIONS 300.000.000.000.00300.000.00 100.00% 01-51230-400 EQUIPMENT COSTS 1,990.019.999.990.002,000.000.00 99.50% 01-51325-100 PERSONNEL SERVICES 103,611.28138,239.7218,603.99119,635.73241,851.000.00 42.84% 01-51325-115 CAR ALLOWANCE 1,523.102,076.90276.921,799.983,600.000.00 42.31% 01-51325-200 CONTRACTUAL EXPENSE 125.00175.000.00175.00300.000.00 41.67% 01-51325-201 BANK FEES 5,765.04234.9613.48221.486,000.000.00 96.08% 01-51325-225 ASSOC. MEETINGS & SEMINARS 9,212.6637.340.0037.349,250.000.00 99.60% 01-51325-226 MEMBERSHIP DUES 1,320.83179.170.00179.171,500.000.00 88.06% 01-51325-227 DELIVERY COSTS 255.4944.510.0044.51300.000.00 85.16% 70 Detail vs Budget Report Date Range: 04/01/2024 - 04/30/2024 5/1/2024 3:45:37 PM Page 2 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01-51325-229 CAREER DEVELOPMENT 5,000.000.000.000.005,000.000.00 100.00% 01-51325-310 OFFICE SUPPLIES 1,600.32399.6839.39360.292,000.000.00 80.02% 01-51325-340 CELLULAR PHONES 1,376.22623.7896.45527.332,000.000.00 68.81% 01-51325-355 SUBSCRIPTIONS 1,501.001,499.000.001,499.003,000.000.00 50.03% 01-51325-360 BOOKS & PUBLICATIONS 300.000.000.000.00300.000.00 100.00% 01-51325-365 OFFICE PRINTING COSTS 1,934.0066.000.0066.002,000.000.00 96.70% 01-51325-400 EQUIPMENT COSTS 1,000.000.000.000.001,000.000.00 100.00% 01-51410-213 GENERAL PROPERTY COVERAGE 131,382.11209,133.8922,026.00187,107.89340,516.000.00 38.58% 01-51420-200 CONTRACTUAL EXPENSE 22,660.2536,339.7516,200.0020,139.7559,000.000.00 38.41% 01-51420-201 CONTRACT LEGAL 118,798.5069,201.508,180.5061,021.00181,000.00-7,000.00 65.63% 01-51420-202 WEBSITE HOSTING, REDESIGN & MAINT 24,718.0012,421.982,083.0010,338.9837,139.980.00 66.55% 01-51420-204 CITY STAFF COSTS 18,164.0011,427.000.0011,427.0029,591.000.00 61.38% 01-51440-100 PERSONNEL SERVICES 80,337.42123,814.5815,763.20108,051.38204,152.000.00 39.35% 01-51440-225 ASSOC. MEETINGS & SEMINARS 5,461.442,238.560.002,238.567,700.000.00 70.93% 01-51440-226 MEMBERSHIP DUES 2,291.6658.340.0058.342,350.000.00 97.52% 01-51440-227 DELIVERY SERVICES 471.7428.2628.260.00500.000.00 94.35% 01-51440-229 CAREER DEVELOPMENT 7,976.24173.760.00173.768,150.000.00 97.87% 01-51440-310 OFFICE SUPPLIES 657.40342.6039.40303.201,000.000.00 65.74% 01-51440-340 CELLULAR PHONES 621.53578.4755.92522.551,200.000.00 51.79% 01-51440-355 SUBSCRIPTIONS 1,152.34847.6633.00814.662,000.000.00 57.62% 01-51440-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-51440-365 OFFICE PRINTING COSTS 1,500.000.000.000.001,500.000.00 100.00% 01-51620-200 CONTRACTUAL EXPENSE 4,321.31678.690.00678.695,000.000.00 86.43% 01-51620-201 PROPERTY TAXES & ASSOC. DUES 61,562.6988,437.316,452.0081,985.31150,000.000.00 41.04% 01-51620-202 MARINA POLICE 26,761.1813,929.900.0013,929.9040,691.080.00 65.77% 01-51620-205 RENTAL OF OFFICES 20,357.189,642.820.009,642.8230,000.000.00 67.86% 01-51620-208 EQUIPMENT LEASES 10,098.793,082.74716.752,365.9912,638.06-543.47 79.91% 01-51620-209 PROPERTY MAINTENENCE COST 366,724.77120,625.2311,987.43108,637.80478,890.00-8,460.00 76.58% 01-51620-210 IN KIND EXPENSE -89,618.1989,618.1915,711.1773,907.020.000.00 0.00% 01-51620-211 VEHICLE MAINTENANCE / FUEL 9,511.51488.490.00488.4910,000.000.00 95.12% 01-51620-212 HURRICANE/PROPERTY CONTINGENCY 30,000.000.000.000.0030,000.000.00 100.00% 01-51620-224 SIGNAGE 20,000.000.000.000.0020,000.000.00 100.00% 01-51620-325 ELECTRICITY COSTS 17,262.842,737.16521.462,215.7020,000.000.00 86.31% 01-51620-326 WATER CHARGES 17,843.362,156.64287.551,869.0920,000.000.00 89.22% 01-51630-200 CONTRACTUAL 150.00450.000.00450.00600.000.00 25.00% 01-51630-209 PROPERTY MAINTENENCE 53,025.2637,974.7410,418.8727,555.8791,000.000.00 58.27% 01-51630-241 MARINA FUEL MANAGEMENT 91,464.33139,281.6720,788.81118,492.86230,746.000.00 39.64% 01-51630-242 MARINE FUEL STATION OVERHEAD 37,412.5122,587.495,496.6017,090.8960,000.000.00 62.35% 01-51630-310 OFFICE SUPPLIES 945.34254.660.00254.661,200.000.00 78.78% 01-51630-325 ELECTRIC COSTS 2,861.396,138.61862.325,276.299,000.000.00 31.79% 01-51630-326 WATER COSTS 3,474.452,525.55211.992,313.566,000.000.00 57.91% 01-51630-327 GASOLINE & DEISEL FUEL PURCHAS 48,995.06641,179.94150,167.85491,012.09690,175.000.00 7.10% 01-51630-328 MARINA DIESEL SALES TAX 8,495.228,783.781,345.607,438.1817,279.000.00 49.16% 01-51650-200 CONTRACTUAL EXPENSE 1,800.000.000.000.001,800.000.00 100.00% 71 Detail vs Budget Report Date Range: 04/01/2024 - 04/30/2024 5/1/2024 3:45:37 PM Page 3 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01-51650-210 CITY IT SUPPORT 22,949.007,587.000.007,587.0030,536.000.00 75.15% 01-51650-211 COMPUTER SOFTWARE & LICENSES 4,000.000.000.000.004,000.000.00 100.00% 01-51650-212 FINANCIAL SOFTWARE MAINTENANCE 32,965.5829,534.420.0029,534.4262,500.000.00 52.74% 01-51650-330 TELEPHONE LINES 5,000.000.000.000.005,000.000.00 100.00% 01-51650-400 EQUIPMENT COSTS 10,000.000.000.000.0010,000.000.00 100.00% 01-51990-200 CONTRACTUAL EXPENSE - CONTINGENCY 100,000.000.000.000.00100,000.000.00 100.00% 01-57400-100 PERSONNEL SERVICES 77,769.3774,397.6312,281.9162,115.72152,167.000.00 51.11% 01-57400-216 ADVERTISING & PUBLIC NOTICES 37,045.0010,955.00675.0010,280.0048,000.000.00 77.18% 01-57400-218 ANNUAL REPORT & BROCHURES 4,920.0080.000.0080.005,000.000.00 98.40% 01-57400-225 ASSOC. MEETINGS & SEMINARS 9,807.60192.400.00192.4010,000.000.00 98.08% 01-57400-226 MEMBERSHIP DUES 4,470.835,829.170.005,829.1710,300.000.00 43.41% 01-57400-227 DELIVERY SERVICES 1,478.1621.840.0021.841,500.000.00 98.54% 01-57400-229 CAREER DEVELOPMENT 3,988.54511.460.00511.464,500.000.00 88.63% 01-57400-236 PHOTOGRAPHY / VIDEOS 20,000.000.000.000.0020,000.000.00 100.00% 01-57400-310 OFFICE SUPPLIES 591.28908.7239.40869.321,500.000.00 39.42% 01-57400-340 CELLULAR PHONES 1,066.95933.05140.50792.552,000.000.00 53.35% 01-57400-355 SUBSCRIPTIONS 1,243.67656.330.00656.331,900.000.00 65.46% 01-57400-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-57400-365 OFFICE PRINTING COSTS 3,318.77681.23681.230.004,000.000.00 82.97% 01-57500-100 PERSONNEL SERVICES 78,722.0059,286.007,846.6051,439.40138,008.000.00 57.04% 01-57500-225 ASSOC. MEETINGS & SEMINARS 9,900.8999.110.0099.1110,000.000.00 99.01% 01-57500-226 MEMBERSHIP DUES 495.83504.170.00504.171,000.000.00 49.58% 01-57500-229 CAREER DEVELOPMENT 6,520.00480.00480.000.007,000.000.00 93.14% 01-57500-310 OFFICE SUPPLIES 1,336.38663.6239.40624.222,000.000.00 66.82% 01-57500-340 CELLULAR PHONES 285.00315.0045.00270.00600.000.00 47.50% 01-57500-355 SUBSCRIPTIONS 300.00200.00100.00100.00500.000.00 60.00% 01-57500-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-59000-151 F.I.C.A.47,194.6832,805.324,374.3828,430.9480,000.000.00 58.99% 01-59000-152 MEDICARE 10,233.929,766.081,023.058,743.0320,000.000.00 51.17% 01-59000-153 RETIREMENT PLAN 401(a)168,262.00181,738.0021,555.00160,183.00350,000.000.00 48.07% 01-59000-154 WORKERS COMP INSURANCE 13,386.301,613.700.001,613.7015,000.000.00 89.24% 01-59000-155 HEALTH INSURANCE 180,251.4919,748.5182.5819,665.93200,000.000.00 90.13% 01-59000-156 DENTAL INSURANCE 12,762.822,237.18329.671,907.5115,000.000.00 85.09% 01-59000-157 LIFE INSURANCE 11,371.00380.0045.00335.0011,751.000.00 96.77% 01-59000-158 SHORT / LONG TERM DISABILITY 5,742.644,257.36486.373,770.9910,000.000.00 57.43% 01-59000-159 UNEMPLOYMENT CHARGES 10,000.000.000.000.0010,000.000.00 100.00% 01-59000-160 VISION INSURANCE 4,706.29293.7141.20252.515,000.000.00 94.13% 01-59000-161 COMPENSATED ABSENSES 0.0067,818.980.0067,818.9867,818.980.00 0.00% 01-59800-990 TRANS OUT TO DEBT SERVICE FUND 0.002,135,817.000.002,135,817.002,135,817.000.00 0.00% 01-59999-990 INTERFUND TRANSFERS OUT 0.0017,139,098.000.0017,139,098.0017,139,098.000.00 0.00% Expense Totals:-16,003.47 24,379,863.87 21,459,443.64 380,790.41 21,840,234.05 2,555,633.29 10.48% 01 - GENERAL FUND Totals:-16,003.47 104,948.87 -1,421,457.40 221,737.78 -1,199,719.62 1,320,671.96 02 - PROJECTS FUND 72 Detail vs Budget Report Date Range: 04/01/2024 - 04/30/2024 5/1/2024 3:45:37 PM Page 4 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining Revenue 02-44100 FESTIVAL & EVENT INCOME 12,203.50-12,203.50-576.50-11,627.000.000.00 0.00% 02-46100 INTEREST INCOME 389,565.86-389,565.86-65,299.89-324,265.970.000.00 0.00% 02-47100 APPLICATION FEES 1,600.84-1,600.84-300.00-1,300.840.000.00 0.00% 02-48100 MISCELLANEOUS INCOME 58,760.00-58,760.000.00-58,760.000.000.00 0.00% 02-49100 OTHER FINANCING SOURCES -3,628,406.000.000.000.00-3,628,406.000.00 -100.00% 02-49900 TRANSFERS IN 0.00-17,139,098.000.00-17,139,098.00-17,139,098.000.00 0.00% Revenue Totals:0.00 -20,767,504.00 -17,535,051.81 -66,176.39 -17,601,228.20 -3,166,275.80 -15.25% Expense 02-58100-202 CONTINGENCY EXPENSE 200,000.000.000.000.00200,000.000.00 100.00% 02-58100-203 CONTRACTUAL EXPENSE 1,064,850.00243,650.001,500.00242,150.001,308,500.000.00 81.38% 02-58100-213 LEGAL FEES 190,016.5059,983.507,938.5052,045.00250,000.000.00 76.01% 02-58200-401 BUILDINGS 4,551,286.491,528,125.29872,648.35655,476.945,404,411.78-675,000.00 84.21% 02-58200-402 IMPROVEMENTS 1,306,513.000.000.000.001,306,513.000.00 100.00% 02-58200-404 CONSTRUCTION IN PROGRESS 212,795.337,937.090.007,937.09220,732.420.00 96.40% 02-58200-405 SITE WORK AND DEMOLITION FEES 341,497.299,077.774,288.564,789.21350,000.00-575.06 97.57% 02-58200-406 INFRASTRUCTURE AND STREETSCAPE 9,845,249.841,979,793.040.001,979,793.0411,825,042.880.00 83.26% 02-58400-443 DIFA-ECONOMIC DEVELOPMENT 266,848.00394,319.00394,319.000.00661,167.000.00 40.36% 02-58400-444 ECONOMIC DEVELOPMENT GRANTS 1,484,426.92248,357.5437,761.00210,596.541,735,423.462,639.00 85.54% 02-58400-445 MARKETING INCENTIVES 274,512.4219,362.5810,105.009,257.58283,975.00-9,900.00 96.67% 02-58500-460 COMMUNITY POLICING INNOVATIONS 933,395.47290,431.55154,760.09135,671.461,069,066.93-154,760.09 87.31% 02-58500-470 COMMUNITY SUPPORT PROJECTS 400,000.000.000.000.00400,000.000.00 100.00% 02-58500-480 COMMUNITY SPECIAL EVENTS 367,082.67206,917.3326,090.71180,826.62574,000.000.00 63.95% Expense Totals:-837,596.15 25,588,832.47 3,478,543.48 1,509,411.21 4,987,954.69 21,438,473.93 83.78% 02 - PROJECTS FUND Totals:-837,596.15 4,821,328.47 -14,056,508.33 1,443,234.82 -12,613,273.51 18,272,198.13 03 - DEBT SERVICE Revenue 03-46100 INTEREST INCOME 27,211.67-27,211.67-5,523.65-21,688.020.000.00 0.00% 03-49900 TRANSFERS IN 0.00-2,135,817.000.00-2,135,817.00-2,135,817.000.00 0.00% Revenue Totals:0.00 -2,135,817.00 -2,157,505.02 -5,523.65 -2,163,028.67 27,211.67 1.27% Expense 03-59800-814 BOND 2012 PRINCIPAL 1,512,000.000.000.000.001,512,000.000.00 100.00% 03-59800-815 BOND 2015 PRINCIPAL 445,000.000.000.000.00445,000.000.00 100.00% 03-59800-824 BOND 2012 INTEREST 59,644.4756,297.530.0056,297.53115,942.000.00 51.44% 03-59800-826 BOND 2015 INTEREST 30,937.4930,937.510.0030,937.5161,875.000.00 50.00% 03-59800-830 FINANCIAL AGENT FEES 1,000.000.000.000.001,000.000.00 100.00% Expense Totals:0.00 2,135,817.00 87,235.04 0.00 87,235.04 2,048,581.96 95.92% 03 - DEBT SERVICE Totals:0.00 0.00 -2,070,269.98 -5,523.65 -2,075,793.63 2,075,793.63 Report Total:-853,599.62 4,926,277.34 -17,548,235.71 1,659,448.95 -15,888,786.76 21,668,663.72 73 Detail vs Budget Report Date Range: 04/01/2024 - 04/30/2024 5/1/2024 3:45:37 PM Page 5 of 5 Fund Summary Fund Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining -16,003.47 104,948.87 -1,421,457.40 221,737.78 -1,199,719.62 1,320,671.9601 - GENERAL FUND -837,596.15 4,821,328.47 -14,056,508.33 1,443,234.82 -12,613,273.51 18,272,198.1302 - PROJECTS FUND 0.00 0.00 -2,070,269.98 -5,523.65 -2,075,793.63 2,075,793.6303 - DEBT SERVICE Report Total:-853,599.62 4,926,277.34 -17,548,235.71 1,659,448.95 -15,888,786.76 21,668,663.72 74 •Attachment I - March 21, 2024 CRA Meeting Minutes COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.B SUBJECT: Approval of the CRA Board Meeting Minutes for March 21, 2024 SUMMARY: See attached minutes. CRA BOARD OPTIONS: Approve the March 21, 2024 CRA Board Meeting Minutes. ATTACHMENTS: Description 75 Minutes of the Community Redevelopment Agency Board Meeting Held on Thursday, March 21, 2024 at 6:00 PM City Hall Chambers, 100 E. Ocean Avenue and Online Present: Chair Ty Penserga Tim Tack, Acting Executive Director Vice Chair Thomas Turkin Kathryn Rossmell, Board Counsel Board Member Angela Cruz Tammy Stanzione, Deputy City Clerk Board Member Woodrow Hay Board Member Aimee Kelley 1. Call to Order Chair Penserga called the meeting to order at 6:03 P.M. 2. Invocation The Invocation was given by Board Member Hay. 3. Pledge of Allegiance The pledge of Allegiance was led by Vice Chair Turkin. 4. Roll Call Ms. Tammy Stanzione, Deputy City Clerk called the roll. A quorum was present. 5. Agenda Approval A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda Chair Penserga asked the Board which items they want to hear from Section 16 CRA Projects in Progress, there was a consensus to hear Agenda Item 16C. Chair Penserga also inquired about Section 8 Information Only, there was a consensus not to hear Section 8. Motion: Board Member Kelley moved to approve the agenda, as amended. Board Member Hay seconded the motion. The motion passed unanimously. 6. Legal - None 76 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21 , 2024 7. Informational Items and Disclosures by Board Members and CRA Staff A. Disclosure of Conflicts, Contacts, and Relationships for Items Presented to the CRA Board on Agenda Chair Penserga, Vice Chair Turkin and Board Members disclosed that they individually spoke with Christina Romelus regarding Agenda Items 11J and 11K. 8. Information Only A. Semi-Annual Progress Report for the Development Agreement with Wells Landing Apartments, LLC d/b/a Heart of Boynton Shops B. Semi-Annual Progress Report for the Purchase and Development Agreement with Wells Landing Apartments, LLC d/b/a Heart of Boynton Village Apartments C. Annual Progress Report for the TIRFA Agreement with Wells Landing Apartments, LLC d/b/a Heart of Boynton Village Apartments and Shops D. Quarterly Progress Report from BB QOZ, LLC for the 115 N. Federal Highway Mixed-Use Project (aka The Pierce) 9. Announcements and Awards A. Boynton Beach Spring Market Announcement Mercedes Coppin, Business Development and Promotions Manager, announced that the Boynton Beach Spring Market will be held on March 23rd from 4 P.M. to 9 P.M. at the Centennial Park and Amphitheater. She also announced that there would be a ribbon cutting at 6 P.M. for the new Circuit Rideshare Program. 10. Public Comments The public comment section of the meeting is for public comment on items on the consent agenda or items that are not on the agenda. For items on the agenda, the public will be given an opportunity to comment at the time each item is considered. Each speaker will be given a total of three (3) minutes to comment; however, the Board retains the right to reduce the number of minutes prior to the start of public comment. Persons making public comment may not assign or donate their public comment time to another individual to allow that other individual additional time to comment; however, any persons requiring assistance will be accommodated as required by the Americans with Disabilities Act. Prior to addressing the 2 77 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 Board, please go to the podium or unmute your device when prompted, and state your name and address for the record. Chair Penserga opened Public Comments. No one came forth to speak. Chair Penserga closed Public Comments. 11. Consent Agenda A. CRA Financial Report Period Ending February 29, 2024 B. Approval of the CRA Board Meeting Minutes for February 13, 2024 C. Approval of the First Amendment to the Interlocal Agreement between the Boynton Beach CRA and Palm Beach County for Economic Impact Analysis D. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $17,500.20 to NYPD Pizza at Casa Costa LLC located in Casa Costa at 400 N. Federal Highway, Unit 9 E. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $19,200 to Dalo Restaurant LLC located at 1017 N. Federal Highway F. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $21,000 to Gandhi Health & Wellness LLC located in Riverwalk Plaza at 630 E. Woolbright Road, Suite B & C G. Approval of the Commercial Property Improvement Grant Program in the Amount of $35,000 to Gandhi Health & Wellness LLC located in Riverwalk Plaza at 630 E. Woolbright Road, Suite B & C H. Approval of the Commercial Property Improvement Grant Program in the Amount of $43,383 to Safai LLC d/b/a Safai located in Casa Costa at 470 N. Federal Highway, Unit 3 I. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $13,850 to Safai LLC d/b/a Safai located in Casa Costa at 470 N. Federal Highway, Unit 3 J. Approval of the Commercial Property Improvement Grant Program in the Amount of $26,200 to PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 10th Avenue, Unit 106 K. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $11 ,550 to PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 10th Avenue, Unit 106 12. Pulled Consent Agenda Items 3 78 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 J. Approval of the Commercial Property Improvement Grant Program in the Amount of $26,200 to PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 10th Avenue, Unit 106 K. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $11,550 to PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 10th Avenue, Unit 106 Vice Chair Turkin stated that he would like to table Items 11J and 11K, he noted that he has questions regarding these Items that are not appropriate to be discussed on the dais. He also commented that he has spoken to Ms. Rossmell and she recommended tabling these items. Chair Penserga noted that he also spoke with Ms. Rossmell and that she suggested that this Item does need further conversation. Board Member Hay stated that he does not understand why these Items need to be tabled. He said that he trusts that Staff did their homework before adding these Items to Consent Agenda. He commented that he does not see the need to table this item, it is a small grant for a small business and he hopes that this is not a political move. Kathryn Rossmell, Board Counsel, stated that there are outstanding questions regarding what constitutes a tier two business and what would be the proper considerations. She commented that there is a Board Member who would like more of an explanation of how that is done. She noted that the Board in the past has not funded grants for entities that are not among the listed tier two businesses and the board has also chosen to fund grants for businesses that are not among the tier two businesses. She stated that the request is just to have the opportunity to understand what the criteria for tier two businesses. Board Member Hay commented that he does not like to be blindsided. He noted that he had his agenda review to ask his questions and that every Board Member should have asked their questions that they do not understand at their agenda review. He stated that going forward he is going to have the viewpoint that items on the agenda are not thoroughly reviewed. Ms. Rossmell stated that a consent agenda item is nonremarkable in the ordinary course of business and that putting an item on Consent Agenda is not a delegation of your authority to staff to decide on any individual item. She noted that any Board Member is entitled to pull any item off of Consent Agenda with the agreement of the other Board Members through ordinary vote. Board Member Hay inquired if there is any time sensitivity regarding this Item. 4 79 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 Ms. Rossmell responded that from a legal perspective there is no time sensitivity and imagines that the applicant would want an answer as soon the Board is willing to give one. Christina Romelus, applicant, stated that there is time sensitivity to this Item. She commented that her application has been submitted to permitting and that delaying the approval delays the build out of the unit. She noted that she would appreciate having this item approved this evening. Board Member Hay stated that the Board should move ahead with the Item since it is time sensitive. Ms. Romelus commented that the developer has stated that from the time of CO is issued there 120 days will be given to all tenants and after the 120 days the tenants will have to pay rent. She stated if she is not approved she would be force to start paying rent on a unit that is not built out. Vice Chair Turkin comment that he does not appreciate being singled out and he does not appreciate that staff was thrown under the bus due to his concerns. He stated that he trusts Board Counsel and that if she recommends that this Item be tabled because other Board Members including himself have questions. He noted that it is his job to make decisions on knowledge and to make the right decisions. Board Member Cruz inquired if this Item is violation of the City Ordinance that states no previous Board Member is to allow to lobby the same body for three years. Ms. Rossmell responded that there is a three-year band on lobbying before this Board, however, lobbying is understood to be on behalf of a third party. She commented that the applicant is before you in her individual capacity for a business that she owns. She noted that under current policy the applicant is permitted to come to the Board on the same standing as everyone else in the City. Board Member Cruz stated that was her only concern and that she has not seen in the past any applicant being scrutinized and being declined. Ms. Rossmell commented that grants have been declined in the past for failure to be among the listed categories of approved businesses. Board Member Kelley stated that she had an agenda review and that she has spoken to staff and the CRA Attorney and she still has questions that she has the right to have answered. She stated that she would like to table this Item so that her questions could be answered because at the end of the day the money that is used for these Grant programs are resident's funds and she said that she wants to be sure it is being done right. 5 80 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21 , 2024 Chair Penserga stated that he had his agenda review as well and at that time he asked the Acting Executive Director if there were any ethical conflicts and concerns, there were none. He noted that he was stunned that there were still questions, questions that cannot be addressed at this time. He commented that he has no intention of targeting any business especially since no flags have occurred. He inquired if the delay would put a financial constraint on the applicant. Mr. Tack replied that the CRA would work the tenant and the developer to accommodate minimal impact. He noted that the next CRA meeting is April 9th which is a quick turnaround, which is opposed to the normal length of time between meetings. Chair Penserga asked if there was a protective mechanism to be sure the applicant is not negatively impacted. Ms. Rossmell responded that she can not speak to the applicant's financial situation. She commented that she does not believe there is a universal solution and that the grant is discretionary and it is clear that there is no guaranteed funding. She noted that anytime a Board Member has outstanding questions and that she can not evaluate or answer in the time frame given tabling is the default position. Chair Penserga commented that this could have a simple and straight forward solution. He stated that if there is an assurance that we are not negatively impacting a particular business because of our questions, then it is a win win. Board Member Cruz remarked that it is not unreasonable to table to April 9th Board Member Hay inquired if he would learn what these questions are at the next meeting. Ms. Rossmell replied that under Sunshine Law she is not permitted to discuss another Board Member's questions. She noted that if the Board Member would like to present their understandings at the next meeting they could. Board Member Hay stated that he has the right to know what the issues are and why they are going down this road. Ms. Rossmell stated that she could provide a legal memorandum and be sure that the Board gets that information. Motion: Vice Chair Turkin moved to table Items 11J and 11K until the April 9th CRA meeting. Board Member Kelley seconded the motion. The motion passed 4-1 , (Board Member Hay dissenting). 6 81 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21 , 2024 Motion: Board Member Kelley moved to approve the remainder of the Consent Agenda. Board Member Hay seconded the motion. The motion passed unanimously. 13. CRA Advisory Board A. Pending Assignments - New Assignments from the CRA Board Assigned at the February 13, 2024 CRA Monthly Board Meeting B. Reports on Pending Assignments Vice Chair inquired what can be done with the property located at 1320 S. Federal Highway. Mr. Tack replied that the CRA Advisory Board will identify if this property meets the goals and objectives of the CRA and worth acquiring. 14. Old Business A. Discussion and Consideration of the Third Amendment to the Purchase Development Agreement between the CRA and Centennial Management Corporation/Wells Landing Apartments, LLC for the Heart of Boynton Village Apartments Mr. Tack gave an overview of the Third Amendment to the Purchase & Development Agreement with Centennial Management Corporation/Wells Landing Apartments, LLC for the Heart of Boynton Village Apartments. Board Member Hay inquired if the road is going to remain under construction until 2025. Mr. Tack replied that road work is typically the last thing to be completed on a project, but it should be completed prior to the end of 2025. Chair Penserga opened Public Comments. No one came forward. Chair Penserga closed Public Comments. Motion: Vice Chair Turkin moved to approve the Third Amendment to the Purchase & Development Agreement between the CRA and Centennial Management Corp./Wells 82 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21 , 2024 Landing Apartments, LLC for the Heart of Boynton Village Apartments subject to final legal review. Board Member Hay second the motion. The motion passed unanimously. B. Discussion and Consideration of a First Amendment to the Tax Increment Revenue Finance Agreement between the CRA and Centennial Management Corp./Wells Landing Apartments, LLC for The Heart of Boynton Village Apartments Mr. Tack gave an overview of the First Amendment to the Tax Increment Revenue Finance Agreement between the CRA and Centennial Management Corp./Wells Landing Apartments, LLC for The Heart of Boynton Village Apartments Chair Penserga opened Public Comments. No one came forward. Chair Penserga closed Public Comments. Motion: Board Member Hay moved to approve the First Amendment to the Tax Increment Revenue Finance Agreement between the CRA and Centennial Management Corp./Wells Landing Apartments, LLC for The Heart of Boynton Village Apartments pending final legal review. Vice Chair Turkin seconded the motion. The motion passed unanimously. C. Consideration of Candidates for Selection of New Executive Director Board Member Cruz stated that she did interview with all three candidates, they all had positive qualities and diverse experience. She noted that there was one applicant that stood out who had CRA experience within Palm Beach County, however she is not 100 percent sure she still has questions that revolve around salary expectations. She suggested the possibility to opening it up to a wider search. Vice Chair Turkin stated that he also interviewed the three candidates. He noted that they were all amazing and super experienced in their career. He stated that Joan Oliva stood out with 17 years of CRA experience and was able to obtain $46 million dollars in grant money was a huge factor. He commented that he would like move forward with Ms. Oliva, she brings knowledge and experience that can benefit the City of Boynton Beach. Board Member Hay commented that he to had the opportunity to interview all three candidates and Joan Oliva was his number one. He stated that his only concern would be is the salary, he does not want an Executive Director of the CRA making more money then the City Manager. He noted that she is will not work for any less he is for opening 8 83 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 the process up again. He noted that he could go with Ms. Nicolas if the salary was a show stopper. Board Member Kelley commented that she had the opportunity to interview all three candidates. She noted that she has similar concerns with the contract but that will be worked out between the candidate and Staff. She stated that Ms. Oliva stood out because of her experience and understanding of TIF. Chair Penserga stated that he shares the sentiments with the majority of the Board. Ms. Oliva stood out from the three and she will be his top nominee. He noted that salary was not a topic discussed with her he believes that should be addressed by Legal to negotiate. Board Member Hay inquired about what the salary range was. Mr. Tack replied that the range was $140 thousand is the minimum and $210 thousand is the maximum. Board Member Hay asked how much of a percentage are we willing to go beyond the budgeted limit. Ms. Rossmell replied that the budget is controlled by the Board and if they wish to make deviation it is in their power to reorganize the budget. She commented that the Board can give her direction on the salary range or the Board can leave it in staff's hands and come back to the Board with a number. Board Member Hay inquired if each Board Member can give a number they are willing to go. Ms. Rossmell responded that she is not permitted to poll each Board Member individually and act on that outside of the Board. Vice Chair Turkin commented that is one question he did not ask the candidates. He said that if they want to come here they will come because it is a good opportunity. He stated that compensation can always be negotiated. He noted that the City has one of the lowest paid City Managers in the County. He commented that to give a little to get a lot and to let an experience candidate walk away over 10 to 20 thousand dollars. He stated that he is okay with the Chair being part of the negation. Chair Penserga stated that there was a consensus to select Joan Oliva and having the Mayor be part of the negotiation. Ms. Rossmell noted that if the Chair is part of the negotiation there maybe additional Sunshine requirements that come into play when the Chair as an individual is acting on behalf of the Board. 9 84 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21 , 2024 Chair Penserga opened Public Comments. Mark Karageorge stated that Ms. Oliva is qualified and she knew what the job paid when she applied. He commented that he has a problem with overpaying the Board approved a budget stick to it. He noted that Joan is making a step up, Boynton Beach has more TIF money then Lake Worth will ever have. Chair Penserga closed Public Comments. Motion: Board member Kelley moved to approve selecting Joan Oliva as the primary candidate and to direct the Chair and legal counsel to enter into negotiations and bring back an Executive Director Employment Agreement for review at the next available CRA Board meeting for approval. Board Member Hay seconded the motion. The motion passed unanimously. 15. New Business A. Discussion and Consideration of a Gateway Entrance Feature on the CRA owned property located at 1101 N. Federal Highway Mr. Tack gave an overview of a Gateway Entrance Feature on the CRA owned property located at 1101 N. Federal Highway. Board Member Hay inquired if the Unity Board has finalized the mural that will go on the wall. Mr. Tack replied that the final decision will go before the City Commission either April 2nd or April 16th, he did not know the exact date. Board Member Hay commented that it would make sense to put the mural depicting MLK on MLK Boulevard. Mr. Tack stated that the City Commission will be making the decision on what mural is going to go where. Ms. Rossmell commented that the Board is getting into City business and she prefers that the Board does not discuss the City side of the decision-making process. 10 85 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 Board Member Kelley stated that is a great opportunity to activate that corner and that she supports staff in wanting direction on what to do on that corner. She noted that she did like the idea of a seating area and that there is a location in the City there is a painted art bench which is art and functional. Mr. Tack stated that he not familiar with this bench and asked where is it located. Board Member Kelley replied that the bench is located at Congress and Boynton Beach Boulevard. Mr. Tack stated he take a look at the bench and see if it can be incorporated. He commented that he did not extenuate that in addition to the lighting there will be power so the area can be decorated during the holiday festivities. Chair Penserga noted that he fully supports this and direct staff to hire who they need to put together a conceptual plan and then decide on what should be done. Board Member Hay commented that he concurs with Chair Penserga. He noted that benches have been removed from areas in the City because it presented a problem. B. Discussion and Consideration of Purchase of 1022 North Federal Highway Mr. Tack provided an overview of the Purchase of 1022 North Federal Highway. Board Member Kelley noted that it was a great opportunity and that she supports the purchase. Board Member Hay commented that he agreed with Board Member Kelley. He stated that he is looking down the road to make this intersection equal to or even great then the intersection at Ocean and Federal. Chair Penserga opened Public Comments. Mark Karageorge stated the owner has been trying to sell the property for over a year and a half. He commented that the Board should pay appraised value and nothing more. He noted that it is a great acquisition it makes sense and the Board has control was it is acquired. No one came forward. Chair Penserga closed Public Comments. 11 86 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 Motion: Board Member Hay moved to approve the purchase of 1022 N. Federal Highway in the amount of $1 ,000,000.00 and authorize the CRA Chair to sign the Purchase and Sale Agreement as presented. Board Member Cruz second the motion. The motion passed unanimously. 16. CRA Projects in Progress A. Social Media & Print Marketing Update B. CRA Economic & Business Development Grant Program Update C. MLK Jr. Boulevard Corridor Mixed Use Project (d/b/a Heart of Boynton Village Apartments) Update - March 2024 Items 16A and 16B were not heard. Mr. Tack gave an update on the MLK Jr. Boulevard Corridor Mixed Use Project. Board Member Hay stated he would like to hear more about the commercial aspect of the property. Bonnie Nicklien, Grants and Project Manager, stated that the commercial is moving along. She noted that permits have been submitted for Units 102, 105, 106, 107 and 108. She commented that permits have approved for Units 102 and 108 and they are ready to build out. Board Member Hay reminded everyone that this project won the State Presidential award and that they should be proud of the accomplishment. Chair Penserga stated that he would like to see night pictures of the project to view the lighting and the sense of security. 16. Future Agenda Items A. Boynton Beach CRA FY 2022-2023 Financial & Annual Report - April 2024 B. Discussion and Consideration of Request of Developer for TIF Funding for the Ocean One Project - April 2024 12 87 Meeting Minutes CRA Board Meeting Boynton Beach, FL March 21, 2024 17. Adjournment There being no further business to discuss, the meeting was adjourned at 7:30 P.M. 72,5‘912..Q_ Tammy Sta 'lone, M Deputy City Clerk 13 88 •Attachment I - April 9, 2024 CRA Meeting Minutes COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.C SUBJECT: Approval of the CRA Board Meeting Minutes for April 9, 2024 SUMMARY: See attached minutes. CRA BOARD OPTIONS: Approve the April 9, 2024 CRA Board Meeting Minutes. ATTACHMENTS: Description 89 Minutes of the Community Redevelopment Agency Board Meeting Held on Tuesday, April 9, 2024, at 6:00 PM City Hall Chambers, 100 E. Ocean Avenue and GoToWebinar Online Meeting Present: Chair Ty Penserga Vice Chair Aimee Kelley Board Member Angela Cruz Board Member Woodrow Hay Board Member Thomas Turkin 1. Call to Order Tim Tack , Acting Executive Director Kathryn Rossmell , Board Counsel Tara Duhy, Board Counsel Tammy Stanzione , Deputy City Clerk Chair Penserga called the meeting to order at 6:01 P.M. 2. Invocation The Invocation was given by Board Member Hay . 3. Pledge of Allegiance Board Member Cruz led the Pledge of Allegiance to the Flag . 4. Roll Call Ms. Tammy Stanzione , Deputy City Clerk , called the roll. A quorum was present. 5. Agenda Approval A. Additions , Deletions , Corrections to the Agenda Board Member Cruz requested to hear Item 16A. B. Adoption of Agenda Motion: Board Member Hay moved to approve the agenda , as amended. Vice Chair Kelley seconded the motion. The motion passed unanimously. 6. Legal Ms. Rossmell had no legal updates. 7. Informational Items and Disclosures by Board Members and CRA Staff: 90 Meet ing Minutes CRA Board Meeting Boynton Beach , FL April9, 2024 A. Disclosure of Conflicts , Contacts , and Relationships for Items Presented to the CRA Board on Agenda Board Member Turkin disclosed that he received emails regarding items 12A and 12B and spoke to the principal and Bonnie Miskel regarding item 15A. Board Member Hay disclosed that he spoke with Danny regarding item 15A. Vice Chair Kelley disclosed that she spoke to Christina Romelus regarding item 12 and the Hyperion representatives regarding items 15A and received emails as well. Board Member Cruz disclosed that she spoke to residents and applicants regarding items 12A and 12B . She also received text messages. She spoke to Bonnie Miskel regarding item 15A. Mayor Penserga disclosed that he received two emails regarding item 15A and spoke to the representatives. Additionally , he spoke to representatives regarding items 12A and 12B. 8. Informational Only A. Quarterly Progress Report #4 from Pulte Home Company, LLC for the Cottage District lnfill Housing Redevelopment Project-January 2024 -March 2024 Mr. Eliot Goldstein , Director of Land Acquisition for Pulte Home Company, LLC , said that they are eager to move this project closer to a reality. He noted their master plan , site plan , and zoning approvals were obtained on February 6 , 2024 , and the restrictive covenant was approved on February 13 , 2024 , and the plat and land development was submitted on February 27 , 2024 . They are awaiting staff comments , along with the draft developer's agreement. He thanked Mr. Tim Tack for facilitating a meeting to discuss building permit sand the land development permits . Board Member Hack asked about the timeline. Mr. Goldstein said that they are prepared to close as soon as they receive plat approval and the developer's agreement. 9. Announcements and Awards A. Boynton Beach CRA FY 2022 -2023 Financial & Annual Report Mr. Tim Tack , Acting Executive Director, provided an update on the CRA FY 2022-2023 Financial & Annual Report. An electronic copy is located online . B. Announcement for Rock the Plaza at Ocean Palm 91 Meeting Minutes CRA Board Meeting Boynton Beach , FL April9, 2024 Ms. Mercedes Coppin , Business Develop and Promotions Manager, announced Rock the Plaza will be held on April 271h at Ocean Palm Plaza , featuring live music by Solid Brass. 10. Public Comments The public comment section of the meeting is for public comment on items on the consent agenda or items that are not on the agenda. For items on the agenda , the public will be given an opportunity to comment at the time each item is considered. Each speaker will be given a total of three (3) minutes to comment ; however, the Board retains the right to reduce the number of minutes prior to the start of public comment. Persons making public comment may not assign or donate their public comment time to another individual to allow that other individual additional time to comment; however, any persons requiring assistance will be accommodated as required by the Americans with Disabilities Act. Prior to addressing the Board , please go to the podium or unmute your device when prompted , and state your name and address for the record . Chair Penserga opened public comments . Susan Oyer asked about the status on city beautification . She reached out to the City Manager and has not hea rd back. She a lso asked about the status on the NW 11 th Avenue blue lights. She said she reached out to the cruiser representatives about advertising , but she did not receive a response. She inquired about the urban o rchard at Sara Sims . She mentioned the toxic chemicals going into their waterways from the cypress mulch. She recommended pine bark mulch , which also costs left . Cindy Falco deCorrado said three more people were shot today in District II. She mentioned the art on East Ocean Avenue and thanked them for removing the plastic monstrosity. She said the art is making harsh statements . She stated that there are still lights out on Boynton Beach Boule vard and it looks scary. Martin Klauber thanked Board Member Turkin for the community meeting he held with staff and Police Chief. He acknowledged the replacement of the royal palms and ballyards . He also thanked the CRA for posting the no fishing signage on the pier. No virtual comments . Chair Penserga closed public comments . 11. Consent Agenda A. CRA Financia l Report Period Ending March 31 , 2024 B. Approval of the Increase in Funding to the Commercial Property Improvement Grant Program in the Amount of $2 ,650 for Eligible Design Fees to Nate & Maddie LLC d/b/a ROK Prime Korean BBQ located in Sunshine Square at 1729 S . Federal Highway Motion: 92 Meeting Minut es CRA Board Mee t ing Boynton Beach , FL April 9, 2024 Board Member Cruz moved to approve the Consent Agenda . Vice Chair Kelley seconded the motion. The motion passed unanimously . 12. Pulled Consent Agenda Items A. Approval of the Commercial Property Improvement Grant Program in the Amount of $26 ,200 to PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 1Oth Avenue , Unit 106-TABLED 03/21/2024 (REVISED 04/05/2024) B . Approval of the Increase in Funding to the Commercial Property Improvement Grant Program in the Amount of $2 ,650 for Eligible Design Fees to Nate & Maddie LLC d/b/a ROK Prime Korean BBQ located in Sunshine Square at 1729 S . Federal Highway Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $11 ,550 to PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 10th Avenue , Unit 106 -TABLED 03/21/2024 (REVISED 04/05 /2024) Motion: Board Member Hay moved to remove item 12A from the table. Board Member Cruz seconded the motion . The motion passed unanimously. Motion: Board Member Hay moved to remove item 12B from the table . Vice Chair Kelley seconded the motion. The motion passed unanimously. Mr. Tack stated that the CRA has received a complete property improvement and rent reimbursement grant application from PolitiCALM LLC located in Heart of Boynton Shops at 139 NE 1Oth Avenue . He said the applicants falls under a Tier 2 business and seeking reimbursement for a complete interior buildout. If approved the applicant is eligible to receive the maximum grant of $25 ,000 for property improvements . If approved , PolitiCALM LLC would be reimbursed for rent for a total grant amount of $11 ,550 for its first year of business . Ms. Rossmell provided an overview of the attached memo . Chair Penserga opened public comments . Ms . Colleen Paul said that she called Ms . Romelus when she first moved to the city . She said that Ms . Romelus helps people and has always been a supporter of small businesses . She stated that Ms . Romelus has met all the application guidelines . She noted that voting against this project sends a message to minority-owned small businesses. She asked the CRA to vote in favor . Ms . Cindy Falco deCorredo said that Ms. Romelus has an active investigation against her. She stated that Ms . Romelus already has an office , and it is political. She said that if they agree to this , they are participating in a crime . She mentioned that it is deceitful and asked them to vote no . 93 Meeting Minut es CRA Board Meet ing Boynton Beach , FL April9, 2024 Ms . Susan Oyer stated that this has not received enough scrutiny. She asked how many jobs will be created by this. She recommended that other businesses that would be a better use of money. She stated that this should not involve politics in any way and suggested this is setting a dangerous precedent. She asked that the Board to vote against. Pastor Richard Dames said that he supports the grant proposal. He noted that if the applicant met all criteria , then all concerns should be irrelevant. He encouraged the city to support more minority-owned businesses , especially by black women . He asked if there are other entities within the CRA that received funds connected to political involvement. He noted that the right thing to do is approve the application. Barbara Ready expressed a concern about the other candidates wanting to open other political offices and the ethics. No virtual comments. Chair Penserga closed public comments. Mayor Penserga welcomed the applicant to present and respond to comments . Ms . Christina Romelus stated that she served the City from 2016-2022 and is proud of he r legacy . She said that she has been in this application process the last 7 months . She acknowledged her virtual office and said that she wants to open a physical office in Boynton Beach. She further described her business , which supports non profits and small businesses. She stated that her office will not participate in the campaign electoral process . She acknowledged the public comments. She noted that her work is mainly outside of Palm Beach County. She said that she has met the criteria and thanked the CRA for being fair and impartial. Board Member Hay said that he heard nothing which would change his mind from last month . Vice Chair Kelley stated that she appreciates Ms . Romelus ' service to the City , but she has concerns with grant funding to be used for a government affairs business with no benefit to the residents . She does not feel that it is an appropriate use for this grant funding . Board Member Cruz said that if the application is denied then they should set parameters in their CRA policies. She noted that it is an eligible business . She stated that the interior updates would remain with the building and benefit the CRA. She mentioned that she shares similar concerns that it would be used as a campaign office . Board Member Cruz offered conditions of approval. 94 Meeting Minutes CRA Board Meeting Boynton Beach, FL April 9, 2024 Ms . Romelus clarified that she will serve Boynton Beach residents and businesses but will not lobby in front the City Commission and CRA. She accepted the conditions offered by Board Member Cruz. Board Member Turkin liked the conditions of approval but asked about enforcement. He suggested that it does fit within the Tier 2 businesses. He expressed concern about accountability. He said that this application should have been ineligible. He stated that he cannot use taxpayers' money for a business that they cannot hold accountable. Board Member Cruz agreed with the recommendation for accountability . She said Ms. Romelus mentioned in their conversation that she would try to help local businesses secure grant funding. Mayor Penserga asked counsel about enforcement. Ms. Rossmell said the question of enforcement would be better directed at staff. She provided an example of enforcement for another scenario . She added that the CRA can terminate a grant at any point. Mr. Tack confirmed that they could develop definitive requirements for accountability. He noted that the buildout is easy to track due to reimbursements. Board Member Hay stated they seem to be making up rules on the fly. He reiterated that the applicant has met all the qualifications. He noted that they have approved other businesses before. He expressed discomfort about developing conditions tonight. Ms . Rossmell stated that all questions presented to her have been addressed. Ms. Romelus addressed the comments about enforcement. She reiterated that she agrees to the conditions of approval. Motion: Board Member Hay moved to approve Item 12A, with conditions. Board Member Cruz seconded the motion. The motion passed 3-2. Board Member Turkin and Vice Chair Kelley dissented . Motion: Board Member Hay moved to approve Item 12B, with conditions . Board Member Cruz seconded the motion. The motion passed 3-2. Board Member Turkin and Vice Chair Kelley dissented . 95 Meeting Minutes CRA Board Meeting Boynton Beach , FL 13. CRA Advisory Board April 9, 2024 A. Pending Assignments-New Assignments from the CRA Board Assigned at the February 13 , 2024 , CRA Monthly Board Meeting Mr. Tack stated that there were no updates. He confirmed the CRA Advisory Board met and will report at the May meeting. 14. Old Business A . Consideration of Approval of 500 Ocean Performance Audit for Year Ending December 31 , 2023 , for Compliance with the Direct Incentive Funding Agreement Mr. Tack introduced the item and provided background. He noted that the Performance Audit is in compliance with the terms of the agreement , if approved , the CRA will be issuing payment in the amount of $349 ,319 for FY24. Motion: Board Member Hay moved to approve the Performance Audit as submitted and authorize release of DIFA payment number five (5) in the amount of $394,319 to Avanti Residential- 500 Ocean TIC I LLC . Board Member Cruz seconded the motion. The motion passed unanimously. B . Discussion and Consideration of a Waiver for Payment in Accordance with the First Amendment to the lnterlocal Agreement between the City and CRA for the Historic Woman's Club of Boynton Beach located at 101 0 S. Federal Highway Mr. Tack introduced the item and provided background. The First Amendment to the ILA was entered into on February 6 , 2024 , (City Resolution R24-021, see Attachment II) extending the termination date from February 11 , 2024, to September 30 , 2024. If the CRA Board does not wish to approve a Second Amendment to the ILA for the requested waivers , the City will not be eligible to collect the remaining balances for FY21-22 ($15 ,897.37) and FY22-23 ($193 ,849.00) for a total of $209 ,746 .37 . Chair Penserga opened public comment. No one came forth to speak. No virtual comments. Chair Penserga closed public comment. Motion: Vice Chair Kelley moved to approve Item 14B. Board Member seconded the motion. The motion passed unanimously. 96 Meeting Minutes CRA Board Meeting Boynton Beach , FL April 9, 2024 C . Update on Status of Contract Negotiations with Candidate for New Executive Director Ms . Rossmell introduced the item and provided background. She said they hope to provide an update next month. 15. New Business A. Discussion and Consideration of Request of Developer for TIF Funding for the Ocean One Project Ms. Tara Duhy , Board Counsel , introduced the item , briefly reviewed the order of how the item will be heard , and provided background . In summary , BB1 's pending application requests 95% of the Project TIF over the course of 15 years up to a maximum of $11 ,500 ,000.00 . As consideration , Developer proposes: To construct 90 public parking spaces restricted for use by the public ; To construct the Project in accordance with several green building standards ; and to incorporate various tools to promote local hiring and the use of Locally Owned Small Businesses for construction of the Project. On March 28 , 2024 , CRA staff received an Evaluation of the TIRFA request for the project from Mr. Abramson , who was hired by the CRA as a third-party financial consultant to assist in reviewing the TIRFA request (see Attachment XVI). The evaluation focused on the Project's need for TIF funding and the financial impact to the CRA of awarding the requested TIF as proposed . The evaluation also includes general comments evaluating the public benefits proposed by BB1 . Ms. Bonnie Miskel , on behalf of the applicant , provide a presentation on the following : CRA Mission Statement ; Property Location ; Approved Master Plan/Site Plan ; Summary of Terms ; and TIF Valuation Summary. Chair Penserga opened public comment. Ms . Susan Oyer said that she has been commenting on this project for years. She stated that the project does not have enough office spaces and they need more jobs in the City . She noted that they were supposed to get a hotel out of this agreement. She suggested white roofs for the project , so it is eco-friendly and hoped to see more vegetation on the buildings. She asked what makes this project distinctive. She noted that there was no height differentiation in the building. She stated that she would like to see less TIF Funding for this project. Mr. Harry Woodworth stated this is prime property and the waterfront is an attraction. He noted that it is a good project , but they need to receive something in exchange for that amount of TIF money. He spoke about a hotel or something that draws people into the City. 97 Meeting Minutes CRA Board Meeting Boynton Beach , FL April9, 2024 Mr. Dan Tubberdy said that they appreciated the 90 public parking spaces but asks if it lasts if the TIF funding is being used . He suggested they should have parking in perpetuity . Mr . Michael Minia stated that the Marina Village condo board set in a letter. He mentioned that there is more history to this project. He noted their builder did not receive TIF funding for their parking. He asked the CRA to hold everyone to the same standard. He spoke about the 90 parking spots . He stated that someone will build something beautiful there without TIF funding . Mr. Martin Klauber said that the video did not give the perspective for residents who live to the east. He said that they are asking for public money for private purposes . He noted the traffic safety problem in the area . He provided Casa Costa as an example of lost public parking spaces. He asked for parking in perpetuity no matter the owner. Ms . Hope Sukin said that the Marina Village residents live with a serious safety problem because of traffic . She expressed concern about the sum of requested TIF funding . Ms . Barbara Ready stated that the CRA gave the property to the previous owners. She expressed concern about the amount of retail space and lack of public parking. She also noted that there appears to be parking meters. She said that they need more parking downtown , including more handicapped parking . No virtual comments . Chair Penserga closed public comment. Ms . Miskel responded to the public comments . Ms. Duhy recommended that the CRA directs staff one of three ways : vote down the application and cease negotiations; direct staff to further negotiate issues with the developer; or approve the request as presented and for staff to bring back an agreement. She noted that Mr. Abramson was available online as well. Board Member Cruz asked if the parking spaces are in perpetuity. Ms . Miskel affirmed . Board Member Cruz said it may be a good idea for staff to handle further negotiations . Vice Chair Kelley asked Ms . Duhy if this is a typical timing of a request like this . Mr. Tack explained that there need is expressed within their request. He added that the timing is of the essence to the applicant. Vice Chair Kelley asked for clarification on the process . Ms . Duhy replied that , from a timing perspective , this is nothing illicit. She reiterated that they have an approved master plan . She also added that the developer's agreement requires them to submit for a building permit by September 2024 . 98 Meeting Minutes CRA Board Meeting Boynton Beach , FL April 9, 2024 Mr. Barry Abramson , consultant , addressed the timing issue and spoke about the current market. He said 58 of the 90 retail parking spaces have been switched from dedicated to available for the general public . He noted that they were able to reduce their garage by 32 parking spaces and provide those spaces . He spoke about job creation. He stated that the applicant's estimates are reasonable in the current market. Board Member Hay said that the location is vital to how Boynton Beach will look in the future . He stated that he is still not convinced , and he wants more . He suggested that they need to look at their top priorities within the City. He asked for a total of 1 00 parking spaces . He emphasized the need for more public benefits. Board Member Turkin thanked the Marina Village resident for speaking on this item. He reviewed the history of this project and the CRA 's decision-making . He stated that the Live Local Act removes the authority to approve projects . He said that they do want increased height or density if the developer needs to sell the property . He stated that he cannot vote for this item as it exists today . He requested that the President of the Marina Village Condo Board be included in negotiations. He asked to be involved with staff in the negotiation of terms. He said that no deal is better than a bad deal. Vice Chair Kelley agreed with Board Member Turkin 's sentiments . She stated that the requested amount is too much for what the CRA is receiving. She said that she is comfortable with staff negotiating the terms. She is not comfortable with the 15-year terms as it would tie up income too long . She expressed similar concerns regarding the parking. She noted that she cannot support it as presented. She asked about recapturing parking revenue . Chair Penserga said negotiations should be able to bring about a compromise for both parties . He said that he wants to ensure adequate pub lic benefit. Mr. Robert Urbanski , applicant, addressed comments and concerns . He emphasized the benefits of the public private partnership and the positive impact on Boynton Beach. He commented on providing public parking. He stated that they plan to sign a guaranteed contract with the construction company within a month. He reiterated that they are required to pull permits by September 2024 . There was consensus from the Board to direct staff to continue negotiations with the applicant. Mr. Tack asked for clarity on desire for parking . Mayor Penserga asked staff to find the best possible deal for the CRA and City . Ms. Duhy clarified that they were looking for the best and final offer from the applicant. 99 Meeting Minutes CRA Board Meeting Boynton Beach , FL April 9, 2024 Ms . Miskel said that they look forward to discussing with staff. She requested that the meeting to occur quickly since t hey do not have a luxury of time. Ms. Duhy said if they get started right away, they should be able to come back with revised terms for the next CRA meeting . Ms . Miskel stated that she has a conflict with the next meeting date. She asked if they could host a special meeting or change the date. Board Member Cruz would not be in the support of a special meeting but noted she also has a conflict for the next CRA meeting. She recommended another date. Discussion ensued. There was consensus to hear the item prior to the May 71h City Commission meeting . Ms . Duhy summarized the feedback from the CRA fand next steps for Mr. Abramson . B. Discussion and Consideration of Purchase of 703 S. Federal Highway Mr. Tack introduced the item and provided background. The vacant lot located at 703 S. Federal Highway is a commercial27 ,843.552 square foot (0.6392 acres) vacant lot which appraised at $1 ,568 ,000 .00 (Attachment Ill). The future development of the lots would be mixed-use under the MU Medium Future Land Use Classification. The development potential would allow a mixed-use development with a maximum density of 40-50 units per acre and a maximum height of 65'-75'. He stated that the options are: • Approve the purchase of the vacant lot located at 703 S . Federal Highway in the amount of $1 ,568 ,000.00 and allow the Chair to sign the Purchase and Sale Agreement. • Do not approve the purchase of the vacant lot located at 703 S. Federal Highway. • Alternative direction as provided by the CRA Board. Chair Penserga opened public comment. Ms. Barbara Ready asked if it is large enough to build a new senior center. No virtual comment. Chair Penserga closed public comment. Motion: Board Member Cruz moved to not approve the purchase of the vacant lot at 703 S . Federal Highway. Vice Chair Kelley seconded the motion . The motion passed unanimously . C. Discussion and Consideration of Purchase of 524 NW 3rd Street 100 Meeting Minutes CRA Board Meeting Boynton Beach , FL April 9, 2024 Mr. Tack introduced the item and provided background. The property is approximately 8,476.78 square feet (0.1946 acres) and zoned R1A-Single Family, 6 DU/AC . The future development would be low density residential (LOR) 5 DU/AC. The development potential would allow low density residential with a maximum density of 7.5 units per acre and a maximum height of 45'. The CRA has successfully partnered with Habitat for Humanity and the Boynton Beach Faith Based Community Development Corporation in using such infill lots to fulfill its mission of providing affordable housing within the BBCRA Districts. The property is currently listed for sale at $199 ,999.00 (Attachment Ill) and was appraised on February 17 , 2024 , for $195 ,000.00 (see Attachment IV). The seller has accepted the appraised value for the property and provided an executed Purchase and Sale Agreement (Attachment V). This is comparable to the square footage cost of recent CRA acquisitions in the Heart of Boynton District (Attachment VI). He reviewed the options: • Approve the purchase of 524 NW 3rd Street in the amount of $195 ,000.00 and allow the Chair to execute the Purchase and Sale Agreement. • Do not approve the purchase of the vacant lot located at 524 NW 3rd Street. • Alternative direction as provided by the CRA Board . Chair Penserga opened public comment. No one came forth to speak. No virtual comment. Chair Penserga closed public comment. Motion: Board Member Hay moved to approve the purchase of 524 NW 3rd Street in the amount of $195 ,000.00 and allow the Chair to execute the Purchase and Sale Agreement. Vice Chair Kelley seconded the motion . The motion passed unanimously. 16. CRA Projects in Progress A. Coastal Cruiser Powered by Circuit Transit Inc . Project Update Ms . Bonnie Nicklien provided an update on the item . She showed the promotional video . She noted that they will provide data in a few months . Board Member Turkin thanked Chair Penserga for bringing this opportunity forward . Board Member Cruz thanked staff for ensuring the event was a success. B . Boynton Beach Spring Market Recap C. Social Media & Print Marketing Update D. Soc ial Media Outreach Program 2nd Quarterly Report for FY 2023-2024 (January 2024 -March 2024) E. CRA Economic & Business Development Grant Program Update 101 Meeting Minutes CRA Board Meeting Boynton Beach , FL April9, 2024 F. MLK Jr. Boulevard Corridor Mixed Use Project (d/b/a Heart of Boynton Village Apartments) Update-April 2024 17. Future Age nda Items A. Discussion and Consideration of the Submittals from the Request for Proposals for Property Appraisal Services -May 2024 B. Update on Negotiations with Maple Tree Investments in Response to the Second RFP/RFQ for the CRA-owned Property located at 401-411 E. Boynton Beach Boulevard -May 2024 Board Member Cruz requested to add a discussion about code enforcement officers to the June meeting . 18. Adjournment r business to discuss , the meeting was adjourned at 9:19P.M. J2__ 102 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.D SUBJECT: Approval of an Interlocal Agreement (ILA) for Technical Support Services with the City of Boynton Beach for Board Meeting Management SUMMARY: The Information Technology Services (ITS) Department of the City of Boynton Beach has been providing technical support services to the CRA since 2006 under various Interlocal Agreements (ILA) approved by the City Commission. The current ILA was approved in 2021 and automatically renews each year until it is terminated by either party (see Attachment I). The scope of work and support included in this ILA is limited to the server, storage, firewall, router, network equipment, personal computer, printers, City of Boynton Beach enterprise software and also includes general ITS technical support. On May 7, 2024, the City Commission considered an agreement with Primestar Digital Network Inc. to provide labor, equipment and management services related to the videography and live-stream broadcasting of City Commission and CRA Board meeting. Due to the new equipment, subscriptions, meeting management and the cloud-based agenda management software needed for the production of the City Commission and CRA Board meetings and agendas, a separate ILA is needed in order to provide the CRA's reimbursement for its proportionate share of the expenses. The Interlocal Agreement (ILA) for Technical Support Services with the City of Boynton Beach for Board Meeting Management will provide services for the CRA Board meeting productions including the capability for live streaming, incorporate "LivetoAir" for remote participation and other general meeting management. The full scope of work is defined in Exhibit A of the ILA (see Attachment II). In summary, the proportionate share of expenses to the CRA are broken down as the following: One time equipment expense = $6,059 Annual subscription fee for broadcasting = $250 Monthly video production cost = $2,100 One time reimbursement for agenda management software in 2023 = $3,163 Monthly cloud based agenda management software = $424.67 103 •Attachment I - 2021 ILA for IT Support Services •Attachment II - ILA for Public Meeting Support Services FISCAL IMPACT: FY 2023-2024, 01-51650-210, $24,195.35 CRA BOARD OPTIONS: Approve the Interlocal Agreement (ILA) for Technical Support Services with the City of Boynton Beach for Board Meeting Management. ATTACHMENTS: Description 104 105 106 107 108 109 110 111 4885-6255-0945, v. 2 INTERLOCAL AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY FOR PUBLIC MEETING SUPPORT SERVICES THIS AGREEMENT (“Agreement”) is made this day of 2024, by and between the CITY OF BOYNTON BEACH, a Florida municipal corporation, (hereinafter referred to as "City"), and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public body corporate and politic, duly created and operated pursuant to Chapter 163, Florida Statutes (hereinafter referred to as the "BBCRA"). The City and BBCRA may be referred to herein individually as a “party” and collectively as the “parties.” WITNESSETH: WHEREAS, the CITY has elected to enter into an agreement with Primestar Digital Network. (“Primestar”) to provide videography services for the public meetings of the City Commission and the BBCRA Board (“Primestar Services”), a copy of which is attached hereto as Exhibit A (“Primestar Agreement”); and WHEREAS, the BBCRA desires to use Primestar to provide videography services for public meetings of the BBCRA Board and advisory boards; an WHEREAS, the CITY elected to enter into an agreement with Granicus for the use of PEAK Agenda Management software for public meetings of the City Commission and the City’s advisory boards (“Granicus Services”), a copy of which is attached hereto as Exhibit B (“Granicus Agreement”). The Primestar Agreement and the Granicus Agreement are collectively known as the “Service Agreements”; and WHEREAS, the BBCRA desires to use Granicus PEAK Agenda Management software for BBCRA Board meetings and advisory board meetings; and WHEREAS, the BBCRA desires to contribute its proportional share of the cost of its use of the Primestar Services and the Granicus Services for the public meetings of the BBCRA Board and advisory boards (collectively known as “Public Meeting Support Services,”) as described in 112 4885-6255-0945, v. 2 this Agreement; and WHEREAS, the CITY desires to enable the BBCRA to contribute its proportional share of the cost of its use of Public Meeting Support Services, as described in this Agreement; and WHEREAS, the parties acknowledge and agree that the Primestar services and the Granicus services were procured by the City in accordance with the requirements of the City of Boynton Beach Procurement code; and WHEREAS, the City and the BBCRA find that this Agreement serves a municipal and public purpose, and is consistent with and in furtherance of the Community Redevelopment Plan and the requirements of Chapter 163, Florida Statutes; NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties agree as follows: 1. Recitations. The recitations set forth above are hereby incorporated herein. 2. Definitions. Terms not otherwise defined herein shall have the meaning set forth in the Service Agreements (including the Exhibits to these Agreements). In the event of a conflict between a definition in this Agreement and a definition in the Service Agreements, the terms in this Agreement shall control. All other terms shall have their ordinary dictionary definitions. 3. Payment. The parties agree: a. Contribution. The BBCRA shall be responsible for providing payment to the CITY for its proportionate share of the Public Meeting Support Services, as further described in Exhibit A. Such payments shall be made within 15 days of the BBCRA receiving a complete written request for payment from the CITY. b. Invoicing. The CITY will submit the complete written request for payment to the BBCRA within 15 days of the receiving invoices from Primestar and from Granicus. i. For purposes of this Agreement, a complete written request shall include: 1. The amount of payment requested. 2. A copy of the Primestar invoice and the Granicus invoice to the CITY. 113 4885-6255-0945, v. 2 3. A breakdown of the amount owed to the CITY by the BBCRA, in accordance with Exhibit A. ii. In the event the written request is incomplete, the BBCRA shall notify the CITY within five days of receiving the incomplete request; otherwise such request shall be deemed complete. Upon receiving written notice of an incomplete request, and the CITY shall have 10 days to submit the complete written request; otherwise such written request shall be ineligible for payment. c. BBCRA payment for services previously rendered. BBCRA agrees to contribute its proportionate share of its use of the PEAK Agenda Management Software for BBCRA meetings that occurred prior to the execution of this Agreement and the upgraded video production equipment for the provision of Primestar Services that was purchased prior to the execution of this Agreement. Accordingly, BBCRA shall make a one-time payment to the City in the amount of Three Thousand One Hundred and Sixty-Three Dollars ($3,163) for its proportionate share of the PEAK Agenda Management software from May 1, 2023 to December 31, 2023 and a one-time payment of Six Thousand and Fifty-Nine Dollars ($6,059) for its proportionate share of the upgraded video production equipment. 4. Coordination. The parties agree to the following concerning coordination related to this Agreement. a. Between the City and BBCRA. Coordination between the City and BBCRA shall occur as follows: i. The City shall designate a single point of contact (“City Project Manager”) for coordination with the BBCRA concerning this Agreement. The City may modify the person acting as the City Project Manager upon written notice to the BBCRA. At present, the City designates __________________ who can be reached at ______________ (email) and __________________ (phone number). The BBCRA shall copy _________ (in finance) at _______________ (email) on all 114 4885-6255-0945, v. 2 correspondences concerning invoices and Payments due. ii. The BBCRA shall designate a single point of contact (“BBCRA Project Manager”) for coordination with the City concerning this Agreement. The BBCRA may modify the person acting as the City Project Manager upon written notice to the City. At present, the BBCRA designates Timothy Tack, who can be reached at tackt@bbfl.us and (561)600-9091, with a copy of all emails to be directed to Bonnie Nicklien at nicklienb@bbfl.us. b. With Primestar and with Granicus. The BBCRA shall coordinate directly with Primestar and with Granicus for the provision of Public Meeting Support Services for BBCRA public meetings. 5. Relationship to the Primestar Agreement and the Granicus Agreement. a. The parties agree that the BBCRA shall be responsible for providing payment to the City and coordinating with the respective vendor for Public Meeting Support Services for BBCRA public meetings. The City shall be responsible for all other administration of the Service Agreements. b. The parties understand and acknowledge that the BBCRA is named as a third party beneficiary to the Primestar Agreement with the full power and authority to enforce the Primestar Agreement to the same effect as if it had been made an express party to the Primestar Agreement. c. The BBCRA agrees to release the City from any and all claims that may have against Primestar and/or Granicus related to the provisions of Public Meeting Support Services for BBCRA public meetings. d. The City shall not terminate the Primestar Agreement and/or the Granicus Agreement without the prior written consent of the BBCRA. 6. Notice and Contact. All notices and requests concerning this Agreement shall be delivered via email to the City Project Manager or the BBCRA Project Manager, as applicable, which 115 4885-6255-0945, v. 2 email delivery shall be deemed “written” or “in writing” for purposes of this Agreement. Notices concerning default or termination, or requests for modifications to this Agreement shall also be delivered by email and by writing sent by one of (1) United States mail, return receipt requested, (2) courier, evidenced by a delivery receipt, or (3) by overnight express delivery service, evidenced by a delivery receipt, which notice or request shall be addressed to the person designated by each party for receipt of legal notice. At present, the parties designate the following for receipt of legal notice: If to the BBCRA: Kathryn Rossmell Lewis, Longman & Walker, PA 360 S. Rosemary Avenue Suite 1100 West Palm Beach, FL 33401 krossmell@llw-law.com If to the City: Shawna Lamb City of Boynton Beach 100 E. Ocean Avenue Boynton Beach, FL 33435 7. Term. This Agreement shall become valid and commence upon execution by the last party to this Agreement (“Effective Date”). This Agreement shall be in effect from the Effective Date and unless earlier terminated pursuant to the terms of this Agreement, shall automatically terminate upon either the termination of the Primestar Agreement or the termination of the Granicus agreement, whichever is later. 8. Public Records. The City and the CRA each shall maintain their own records and documents associated with this Agreement in accordance with the requirements set forth in Chapter 119, Florida Statutes. All such records shall be adequate to justify all charges, expenses, and costs incurred in accordance with generally accepted accounting principles. Each party shall have access to the other party’s books, records and documents as required in this Agreement for the purpose of inspection or audit during normal business hours during the term of this Agreement and at least one year after the termination of the Agreement. 116 4885-6255-0945, v. 2 9. Filing. The City shall file this Agreement pursuant to the requirements of Section 163.01(11) of the Florida Statutes 10. Sovereign Immunity. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the BBCRA or the City as set forth in Section 768.28, Florida Statutes. 11. Termination; Default. Either party may terminate this agreement without cause with thirty (30) days written notice. If either party defaults by failing to perform or observe any of the material terms and conditions of this Agreement for a period of 10 calendar days after receipt of written notice of such default from the other party, the party giving notice of default may terminate this Agreement through written notice to the other party. Failure of any party to exercise its right in the event of any default by the other party shall not constitute a waiver of such rights. No party shall be deemed to have waived any rights related to the other party’s failure to perform unless such waiver is in writing and executed by both parties. Such waiver shall be limited to the terms specifically contained therein. This section shall be without prejudice to the rights of any party to seek a legal remedy for any breach of the other party as may be available to it in law or equity. Notwithstanding the foregoing, in the event of a default by the either party, the exclusive remedy for such default shall be monetary, limited to actual damages incurred, and shall not exceed the amount actually paid to Primestar pursuant to the Primestar Agreement. 12. Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this 117 4885-6255-0945, v. 2 Agreement. 13. Severability. The validity of any portion, article, paragraph, provision, clause, or any portion thereof of this Agreement shall have no force and effect upon the validity of any other part of portion hereof. To that end, this Agreement is declared severable. 14. No Third Party Beneficiaries. No provision of this Agreement is intended to, or shall be construed to, create any third party beneficiary or to provide any rights to any person or entity not a party to this Agreement, including but not limited to any citizen or employees of the City or the BBCRA. 15. No Assignment. The Parties may not transfer or assign this Agreement in whole or in part, without prior written consent of the other, which may be granted or withheld at the other party’s absolute discretion. 16. Governing Law; Venue. This Agreement shall be governed by and in accordance with the Laws of Florida. The venue for any action arising from this Agreement shall be in Palm Beach County, Florida. 17. Survival. The provisions of this Agreement regarding termination and records shall survive the expiration or termination of this Agreement and remain in full force and effect. 18. Time is of the Essence. The parties acknowledge that time is of the essence in the performance of the provisions in this Agreement. 19. Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 118 4885-6255-0945, v. 2 20. Interpretation; Independent Advice. This Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties. The parties declare that the terms of this Agreement have been read and are fully understood. The parties understand that this is a binding legal document, and each party is advised to seek independent legal advice in connection with the matters referenced herein. IN WITNESS WHEREOF, the parties hereto have caused this Termination Agreement to be executed on the day and year written below. Boynton Beach Community Redevelopment Agency ATTEST:_________________________ By: _________________________________ Print Name:__________________________ Title:_______________________________ Date: ______________________________ APPROVED AS TO FORM AND LEGAL SUFFICIENCY: By:________________________ CRA Attorney City of Boynton Beach, Florida ATTEST:_________________________ By: _________________________________ Print Name: __________________________ Title: ________________________________ Date:_________________________________ APPROVED AS TO FORM AND LEGAL SUFFICIENCY: By:________________________ City Attorney 119 4885-6255-0945, v. 2 EXHIBIT A The BBCRA proportionate share of the Public Meeting Support Services is as follows. Primestar Services $2100 for each BBCRA meeting and $3150 for any portion of a BBCRA meeting that goes beyond 11:59:59 p.m. Subscription for PEAK agenda management software. $424.67/month* * This monthly subscription fee shall be adjusted annually in accordance with the “Future Year Pricing” schedule provided in the Granicus agreement. 120 •Attachment I - 04-09-2024 CRA Meeting Minutes •Attachment II - City Waiver Memo - HWCBB •Attachment III - Second Amendment to Agreement with City HWCBB COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.E SUBJECT: Approval of Second Amendment to the Interlocal Agreement between the City and CRA for the Historic Woman's Club of Boynton Beach located at 1010 S. Federal Highway SUMMARY: On April 9, 2024, the CRA Board approved the City's request for waivers to the Interlocal Agreement (ILA) for the transfer of ownership and funding of certain improvements, operations, and maintenance of the Historic Woman's Club of Boynton Beach (HWCBB) located at 1010 S. Federal Highway, Boynton Beach, FL (see Attachment I & II). The CRA Board approved the following waivers: Waive the time period in which the City may request reimbursement (¶3b & ¶4 of the ILA) Amend the ILA to include design fees Per CRA Board direction, CRA legal prepared the Second Amendment to the ILA (Attachment III). FISCAL IMPACT: 02-58200-404 and 02-58200-402 - Capital Outlay CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan: Historic Properties and Federal Highway District, 2010 Downtown Vision and Master Plan CRA BOARD OPTIONS: Approve the Second Amendment to the ILA with the City for the HWCBB and allow the Chair to execute the Second Amendment. ATTACHMENTS: Description 121 Meeting Minutes CRA Board Meeting Boynton Beach , FL 13. CRA Advisory Board April 9, 2024 A. Pending Assignments-New Assignments from the CRA Board Assigned at the February 13 , 2024 , CRA Monthly Board Meeting Mr. Tack stated that there were no updates. He confirmed the CRA Advisory Board met and will report at the May meeting. 14. Old Business A . Consideration of Approval of 500 Ocean Performance Audit for Year Ending December 31 , 2023 , for Compliance with the Direct Incentive Funding Agreement Mr. Tack introduced the item and provided background. He noted that the Performance Audit is in compliance with the terms of the agreement , if approved , the CRA will be issuing payment in the amount of $349 ,319 for FY24. Motion: Board Member Hay moved to approve the Performance Audit as submitted and authorize release of DIFA payment number five (5) in the amount of $394,319 to Avanti Residential- 500 Ocean TIC I LLC . Board Member Cruz seconded the motion. The motion passed unanimously. B . Discussion and Consideration of a Waiver for Payment in Accordance with the First Amendment to the lnterlocal Agreement between the City and CRA for the Historic Woman's Club of Boynton Beach located at 101 0 S. Federal Highway Mr. Tack introduced the item and provided background. The First Amendment to the ILA was entered into on February 6 , 2024 , (City Resolution R24-021, see Attachment II) extending the termination date from February 11 , 2024, to September 30 , 2024. If the CRA Board does not wish to approve a Second Amendment to the ILA for the requested waivers , the City will not be eligible to collect the remaining balances for FY21-22 ($15 ,897.37) and FY22-23 ($193 ,849.00) for a total of $209 ,746 .37 . Chair Penserga opened public comment. No one came forth to speak. No virtual comments. Chair Penserga closed public comment. Motion: Vice Chair Kelley moved to approve Item 14B. Board Member seconded the motion. The motion passed unanimously. 122 123 4885-1849-8231, v. 1 SECOND AMENDMENT TO THE INTERLOCAL AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY FOR THE TRANSFER OF THE PROPERTY LOCATED AT 1010 SOUTH FEDERAL HIGHWAY, BOYNTON BEACH, FL TO THE CITY OF BOYNTON BEACH AND THE FUNDING OF CERTAIN IMPROVEMENTS, OPERATIONS, AND MAINTENANCE THEREON. This SECOND AMENDMENT TO THE INTERLOCAL AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY FOR THE TRANSFER OF THE PROPERTY LOCATED AT 1010 SOUTH FEDERAL HIGHWAY, BOYNTON BEACH, FL TO THE CITY OF BOYNTON BEACH AND THE FUNDING OF CERTAIN IMPROVEMENTS, OPERATIONS, AND MAINTENANCE THEREON (“Second Amendment”) is entered into by and between the CITY OF BOYNTON BEACH, a Florida Municipal Corporation (“City”), and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (“CRA”), (individually a “Party” and collectively, the “Parties”). RECITALS WHEREAS, on February 11, 2021, the Parties previously entered into the INTERLOCAL AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY FOR THE TRANSFER OF THE PROPERTY LOCATED AT 1010 SOUTH FEDERAL HIGHWAY, BOYNTON BEACH, FL TO THE CITY OF BOYNTON BEACH AND THE FUNDING OF CERTAIN IMPROVEMENTS, OPERATIONS, AND MAINTENANCE THEREON (“Agreement”), a copy of which is attached hereto as Exhibit “A;” and WHEREAS, on December 14, 2023, the Parties entered into the FIRST AMENDMENT TO THE INTERLOCAL AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY FOR THE TRANSFER OF THE PROPERTY LOCATED AT 1010 SOUTH FEDERAL HIGHWAY, BOYNTON BEACH, FL TO THE CITY OF BOYNTON BEACH AND THE FUNDING OF CERTAIN IMPROVEMENTS, OPERATIONS, AND MAINTENANCE THEREON (“First Amendment”), a copy of which is attached hereto as Exhibit “B,” to extend the termination date of the Interlocal Agreement to September 30, 2024; and WHEREAS, the Agreement as Amended by the First Amendment is hereinafter referred to as the “Interlocal Agreement;” and WHEREAS, the Parties desire to amend the Interlocal Agreement to allow design fees to be an eligible expense; and WHEREAS, under Section 12 of the Interlocal Agreement, no party shall be deemed to have waived any rights related to the other Party’s failure to perform unless such waiver is in writing and signed by both Parties; and WHEREAS, through the letter dated February 21, 2024, (“Waiver Request Letter”), a copy of which is attached as Exhibit “C,” the City has requested and the CRA desires to amend the Interlocal Agreement to permit the reimbursement of certain eligible expenses by waiving the time period in which the City may request reimbursement; and 124 4885-1849-8231, v. 1 WHEREAS, the CRA Board finds that this Second Amendment is consistent with the CRA’s Redevelopment Plan and Chapter 163, Florida Statutes; NOW THEREFORE, in consideration of the promises contained herein and in the Interlocal Agreement, the sufficiency of which both Parties hereby acknowledge: 1) Incorporation. The recitals and other information above are hereby incorporated herein as if fully set forth. 2) Definitions. All words not defined herein shall have the same meaning as in the Interlocal Agreement. To the extent of a conflict, the definitions in this Second Amendment shall control for the amendments to the Interlocal Agreement contained herein. 3) Amendment Style. Amendments to the Interlocal Agreement are shown as follows: additions are shown in underlined format; deletions are shown in strikethrough format. 4) Amendment. Paragraph 2.a. of the Interlocal Agreement is amended as follows: a. The CRA shall provide funding to the CITY in an amount not to exceed Two Hundred Fifty Thousand and 00/100 Dollars ($250,000) annually (for a maximum total of $750,000) to be used only for reimbursement of certain eligible expenses. Eligible expenses are those expenses that are consistent with the requirements of Florida Statutes, consistent with the Plan, directly related to the Project, and in compliance with the requirements of this Agreement. In addition, only direct expenses for materials, labor, construction, and equipment costs associated with the Project for the physical operation and maintenance of the Property (the term “Property” includes the HWCBB), and expenses associated with the design, construction, and installation of physical improvements related to ADA accessibility, historic preservation, health and safety codes, and pedestrian access between parking areas and the HWCBB, shall be considered eligible expenses. CITY overhead, CITY administrative costs, payments to CITY employees, and any payoffs required by the applicable restrictive covenants are not eligible expenses. 5) Waiver. Under Section 12 of the Agreement, no Party shall be deemed to have waived any rights related to the other Party’s failure to perform unless such waiver is in writing and signed by both Parties. Pursuant Section 12, the Parties hereby agree to waive the reimbursement requirements concerning the timing of the Reimbursement Requests as described in Section 4.a. of the Interlocal Agreement for CRA PO #1968 and CRA PO #2026, which are referenced in the February 21, 2024, Waiver Request letter, copies of which are attached hereto as Composite Exhibit “D.” 6) Effective Date of this Amendment. This Second Amendment will become effective at the date and time that the last party signs below. 7) General. The parties agree that all terms, conditions, and provisions of the Agreement not expressly amended, modified or deleted by this Second Amendment shall continue in full force and effect. This Second Amendment may be executed in any number of counterparts, any one and all of which shall constitute the agreement of the Parties and each of which shall be deemed an original. To the extent of any conflict between the Agreement and this Second Amendment, this Second Amendment shall control. 125 4885-1849-8231, v. 1 IN WITNESS WHEREOF, the CITY and the CRA hereto have executed this Agreement as of the later of the dates set forth below. ATTEST: CITY OF BOYNTON BEACH, a Florida municipal corporation ___________________________ By:__________________________ Maylee De Jesus, CITY Clerk Ty Penserga, Mayor Approved as to Form: Date:_________________________ (SEAL) ____________________________ Office of the CITY Attorney Approved as to Form: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ___________________________ By:_____________________________ Office of the CRA Attorney Ty Penserga, Chair Date:_________________________ 126 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.F SUBJECT: Approval of the Commercial Property Improvement Grant Program in the Amount of $54,125 to Potiwa Pizza LLC located in the Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104 SUMMARY: The CRA's Commercial Property Improvement Grant Program provides eligible businesses (new or existing) with financial assistance for the initial build-out costs associated with the construction, repaid, and/or rehabilitation of commercial building improvement. The Commercial Property Improvement Grant Programs provides a 50% reimbursement of the applicant's expenditure for the eligible improvements up to a maximum grant total of $50,000. Under the program guidelines eligible improvements must be permanent items that stay with the building. The Program also provides funding assistance related to the design fees for architectural, electrical, civil, mechanical, and/or plumbing improvements for eligible property improvements. Applicants are eligible to receive 50% of the applicant's project budget up to a maximum amount of $10,000. CRA staff has received a complete grant application from Potiwa Pizza LLC located in Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104 Boynton Beach, FL 33435 (see Attachments I-II). Potiwa Pizza's mission is to blend the rich culinary heritage of Haiti with the universally loved tradition of pizza, offering customers a unique and flavorful dining experience. They are committed to celebrating Haiti's vibrant culture through delicious, handcrafted pizzas made with the finest ingredients and served with warmth and hospitality. As a restaurant of a commercial property, the applicant falls under the terms of a Tier I business as outlined in the grant application. The applicant is seeking reimbursement for a complete interior build-out. The total cost of eligible property improvements is approximately $335,840.58 (see Attachment III). The associated design fees total $8,250 (see Attachment IV). The Heart of Boynton Shops is a CRA funded project formally known as Wells Landing LLC d/b/a The Heart of Boynton Village Apartments & Shops which includes several development funding agreements to help offset the build-out costs for the 8,250 square feet of commercial space included in the project (see Attachments V-VII). Due to the funding provided in these separate agreements, Potiwa Pizza is responsible for the balance of the build-out which totals approximately $283,354.05 (see Attachment VIII). If approved, the applicant is eligible to receive a maximum grant of $50,000 in reimbursable 127 •Attachment I - Commercial Property Improvement Grant Application •Attachment II - Location Map •Attachment III - Project Quote •Attachment IV - Design Fees •Attachment V - Development Agreement •Attachment VI - First Amendment to the Development Agreement •Attachment VII - Second Amendment to the Development Agreement •Attachment VIII - Project Quote with Breakdown funding for the property improvements and an additional $4,125 in reimbursable funding for the design fees provided that the applicant expends an equal amount in matching funds as required under the terms of the grant. The grant is reimbursed to the applicant once the City of Boynton Beach Building Department approves all permit requirements and the proper reimbursement documentation is submitted to CRA staff or approval. FISCAL IMPACT: FY 2023-2024 Budget Project Fund, Line Item 02-58400-444, $50,000 for Property Improvements and $4,125 for Design CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of the Commercial Property Improvement Grant not to exceed the maximum grant award of $54,125 to Potiwa Pizza LLC located in Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104, Boynton Beach, FL 33435. ATTACHMENTS: Description 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 1/23/24, 9:36 AM PAPA Maps https://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434528480060000 1/1  View Property Record Owners WELLS LANDING APARTMENTS LLC Property Detail Location 137 E MARTIN LUTHER KING JR BLVD Municipality BOYNTON BEACH Parcel No.08434521240000010 Subdivision MEEKS ADD TO BOYNTON IN Book 31005 Page 1515 Sale Date NOV-2019 Mailing Address 7735 NW 146TH ST STE 306 HIALEAH FL 33016 1583 Use Type 1000 - VACANT COMMERCIAL Total Square Feet 0 Sales Information Sales Date Price NOV-2019 10 DEC-2009 105455 MAY-2004 10 APR-2004 0 FEB-1983 100 Appraisals Tax Year 2023 Improvement Value $18,786 Land Value $609,989 Total Market Value $628,775 All values are as of January 1st each year Assessed/Taxable values Tax Year 2023 Assessed Value $467,182 Exemption Amount $0 Taxable Value $467,182 Taxes Tax Year 2023 Ad Valorem $10,505 Non Ad Valorem $0 Total tax $10,505 Search by Owner, Address or Parcel 148 RS Construction of Dade, Inc.Date: 3/14/24 CGC 040308 7735 NW 146th Street, Suite 306 Miami Lakes, FL 33016 305-821-0330 Proposal For: WORK TO UNIT 104 POTIWA PIZZA 137 NE 10th Avenue - Unit 104 Boynton Beach , Florida 33125 Scope of Work All Labor & Materials for the Interior Built - Out for Unit #104 according to plans by Architeck NOTE: NO KITCHEN EQUIPMENT & FIXTURES ARE INCLUDED Schedule of Value Drywall & Drywall Finish $ 21,750.00 Acoustical Tile $ 3,750.00 Insulation $ 3,457.00 Doors & Hardware $ 2,785.00 Painting $ 4,700.00 Flooring & Tile - Allowance $ 11,500.00 Bathroom Tile - Allowance $ 3,000.00 Cabinets & Tops - Allowance $ 5,000.00 HVAC - Mechanical System $ 38,750.00 HVAC - Ventilation System & Fresh Air System (ALLOWANCE) $ 65,000.00 Plumbing & Plumbing Fixtures , Gas & Grease $ 62,452.00 Fire Sprinklers $ 6,785.00 Fire Alarm $ 6,450.00 Electrical & Main Panels $ 44,468.00 Light Fixtures $ 4,875.00 Specialties - Handicap Requirements In Bathrooms $ 1,875.00 Rough & Final Cleaning $ 1,000.00 Contingency $ 7,000.00 Subtotal $ 294,597.00 GC FEE - 14 % $ 41,243.58 TOTAL CONSTRUCTION COST $ 335,840.58 This proposal includes all fees, materials, labor, over head & profit until we received the final permit set . CRA Development Agreement Contributions for MEPs $ (51,714.29) CMC Developer Credit $ (7,142.86) Subtotal $ 276,983.43 Estimated Permit Fees $ 6,370.62 - Total Buildout Costs to Tenant $ 283,354.05 CRA Grant 50% Reimbursement up to $50,000 $ (50,000.00) FINAL OUT OF POCKET EXPENSES $ 233,354.05 Proposal 149 172 C ATANIA W AY | R OYAL P ALM B EACH , F LORIDA 33411 | O: 561.798.9809 M 561.917.1128 1 0 .1 1. 20 23 | 23. 01 1 _P oti wa _DD_P rop osa l. d oc x | 1 0: 39 A M ~ An Agreement for Professional Services ~ Design Plan for Preliminary Pricing ~ Date: 10.11.2023 Proposal to: Jude Valiant 96 NW 87th Street Miami, Florida 33150 Project #: 23.017 Project Name / Address: Pot’iwa Pizza Design Planning for Preliminary Pricing +/-1,000 Sq Ft at The Heart of Boynton, Unit 104 P ROJECT S COPE Mr. Valian, we are pleased to present this proposal to you for The Space Planning exercise for Contractor Pricing at The Heart of Boynton Beach, Unit 104 of +/-1,000 sq. ft. to produce a Kitchen Equipment and Restaurant Schematic design based on conversation with you, which will include plans of areas the discussed below. The drawings will be for your review and approval. Areas discussed Bathroom to code. Kitchen layout including Equipment and Specifications for preliminary Pricing. Preliminary Restaurant design enough for pricing Plans preliminarily noted for accurate pricing o (information on specific finish allocations to be provided to Architect by client) T OTAL F EE: Our Fee for the Services shall be a total of $1,500.00. An initial invoice of $,750.00 will be billed to initiate services and a final invoice will be sent upon completion. Sincerely, Steven Vitek, Principal Architek Design Studio, LLC. CLIENT’S ACCEPTANCE: The above terms and conditions are accepted. ___________________________________________________ Signed: Date: ___________________________________________________ Printed: 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 RS Construction of Dade, Inc.Date: 3/14/24 CGC 040308 7735 NW 146th Street, Suite 306 Miami Lakes, FL 33016 305-821-0330 Proposal For: WORK TO UNIT 104 POTIWA PIZZA 137 NE 10th Avenue - Unit 104 Boynton Beach , Florida 33125 Scope of Work All Labor & Materials for the Interior Built - Out for Unit #104 according to plans by Architeck NOTE: NO KITCHEN EQUIPMENT & FIXTURES ARE INCLUDED Schedule of Value Drywall & Drywall Finish $ 21,750.00 Acoustical Tile $ 3,750.00 Insulation $ 3,457.00 Doors & Hardware $ 2,785.00 Painting $ 4,700.00 Flooring & Tile - Allowance $ 11,500.00 Bathroom Tile - Allowance $ 3,000.00 Cabinets & Tops - Allowance $ 5,000.00 HVAC - Mechanical System $ 38,750.00 HVAC - Ventilation System & Fresh Air System (ALLOWANCE) $ 65,000.00 Plumbing & Plumbing Fixtures , Gas & Grease $ 62,452.00 Fire Sprinklers $ 6,785.00 Fire Alarm $ 6,450.00 Electrical & Main Panels $ 44,468.00 Light Fixtures $ 4,875.00 Specialties - Handicap Requirements In Bathrooms $ 1,875.00 Rough & Final Cleaning $ 1,000.00 Contingency $ 7,000.00 Subtotal $ 294,597.00 GC FEE - 14 % $ 41,243.58 TOTAL CONSTRUCTION COST $ 335,840.58 This proposal includes all fees, materials, labor, over head & profit until we received the final permit set . Proposal 184 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.G SUBJECT: Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $10,937.88 to Potiwa Pizza LLC located in the Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104 SUMMARY: The CRA's Commercial Rent Reimbursement Grant Program provides qualified new or expanding businesses located within the CRA boundaries with rent payment assistance for a maximum period of 12 months. CRA staff has received a complete grant application from Potiwa Pizza LLC located in Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104, Boynton Beach, FL 33435 (see Attachments I-II). Potiwa Pizza's mission is to blend the rich culinary heritage of Haiti with the universally loved tradition of pizza, offering customers a unique and flavorful dining experience. They are committed to celebrating Haiti's vibrant culture through delicious, handcrafted pizzas made with the finest ingredients and served with warmth and hospitality. As a restaurant, Potiwa Pizza will employ 12 team members for jobs ranging from full-time and part-time positions for restaurant manager, supervisor, head chef, line cooks, servers and front of house crew. Under the terms of their Landlord-Tenant Lease Agreement, the base rent plus CAM to be paid by the applicant is $1,822.98 per month (see Attachment III). Potiwa Pizza qualifies as a Tier I business (as specified in the grant application) and would receive reimbursement for one-half of their monthly rent amount or maximum grant amount of $2,000 per month for a 12- month period, whichever is less. If approved, Potiwa Pizza would be reimbursed in the amount of $911.49/month for a period of 12 months or a total grant amount of $10,937.88 during its first year of business. Grant reimbursements to the approved applicant occur on a monthly basis with proof of rent payments. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $10,937.88 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 185 •Attachment I - Commercial Rent Reimbursement Grant Application •Attachment II - Location Map •Attachment III - Lease Approval of the Commercial Rent Reimbursement Grant in the amount not to exceed $10,937.88 to Potiwa Pizza LLC located in Heart of Boynton Shops at 137 NE 10th Avenue, Unit 104, Boynton Beach, FL 33435. ATTACHMENTS: Description 186 187 188 189 190 191 192 193 194 195 2 yrs $1822.98 12485 NE 6th CT North Miami, FL 33161 196 197 198 199 200 201 1/23/24, 9:36 AM PAPA Maps https://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434528480060000 1/1  View Property Record Owners WELLS LANDING APARTMENTS LLC Property Detail Location 137 E MARTIN LUTHER KING JR BLVD Municipality BOYNTON BEACH Parcel No.08434521240000010 Subdivision MEEKS ADD TO BOYNTON IN Book 31005 Page 1515 Sale Date NOV-2019 Mailing Address 7735 NW 146TH ST STE 306 HIALEAH FL 33016 1583 Use Type 1000 - VACANT COMMERCIAL Total Square Feet 0 Sales Information Sales Date Price NOV-2019 10 DEC-2009 105455 MAY-2004 10 APR-2004 0 FEB-1983 100 Appraisals Tax Year 2023 Improvement Value $18,786 Land Value $609,989 Total Market Value $628,775 All values are as of January 1st each year Assessed/Taxable values Tax Year 2023 Assessed Value $467,182 Exemption Amount $0 Taxable Value $467,182 Taxes Tax Year 2023 Ad Valorem $10,505 Non Ad Valorem $0 Total tax $10,505 Search by Owner, Address or Parcel 202 203 204 205 206 207 208 209 210 211 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.H SUBJECT: Approval of the Commercial Property Improvement Grant Program in the Amount of $29,000 to Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1 SUMMARY: The CRA's Commercial Property Improvement Grant Program provides eligible businesses (new or existing) with financial assistance for the initial build-out costs associated with the construction, repaid, and/or rehabilitation of commercial building improvement. The Commercial Property Improvement Grant Programs provides a 50% reimbursement of the applicant's expenditure for the eligible improvements up to a maximum grant total of $50,000. Under the program guidelines eligible improvements must be permanent items that stay with the building. The Program also provides funding assistance related to the design fees for architectural, electrical, civil, mechanical, and/or plumbing improvements for eligible property improvements. Applicants are eligible to receive 50% of the applicant's project budget up to a maximum amount of $10,000. CRA staff has received a complete grant application from Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1 (see Attachments I-II). Blueheart Adult Day Care Center will provide a space for residents and caregivers in need of social and nutritional services to find support and help in caring for their elderly loved ones. Blueheart will be designed to help those in the community with assistance in caring for daily life needs in a professional staff setting. Adults can participate in adult activities Monday - Friday. As an office use of a commercial property, the applicant falls under the terms of a Tier II business as outlined in the grant application. The applicant is seeking reimbursement for structural walls, signage, new flooring, paint and plumbing. The total cost of eligible property improvements is approximately $24,187.98 (see Attachment III). The associated design fees for the property improvements total $8,000 (see Attachment IV). If approved, the applicant is eligible to receive a maximum grant of $25,000 in reimbursable funding which includes a 20% contingency for the property improvements and $4,000 for the design fees provided that the applicant expends an equal amount in matching funds as required under the terms of the grant. The grant is reimbursed to the applicant once the City of Boynton Beach Building Department approves all permit requirements and the proper reimbursement documentation is submitted to CRA staff or approval. FISCAL IMPACT: 212 •Attachment I - Commercial Property improvement Grant Application •Attachment II - Location Map •Attachment III - Project Quotes •Attachment IV - Design Fees FY 2023-2024 Budget Project Fund, Line Item 02-58400-444, $25,000 for Property Improvements; $4,000 for Design Fees CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of the Commercial Property Improvement Grant not to exceed the maximum grant award of $29,000 to Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1, Boynton Beach, FL 33435. ATTACHMENTS: Description 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 4/2/24, 1:13 PM PAPA Countywide Map https://gis.pbcgov.org/papagis/papa.html#1/1 Reset Select Language ▼ Search by Address, Owner, or PCN Return Property Info Layers Tools & Reports Help View Property Record Print HMRS LLC LOCATION 709 S FEDERAL HWY MUNICIPALITY BOYNTON BEACH PARCEL NO. 08-43-45-28-00-000-5020 SUBDIVISION BOOK/PAGE 22248/342 SALE DATE NOV-2007 MAILING ADDRESS 17825 FIELDBROOK CIR W BOCA RATON FL 33496 1528 USE TYPE 1900 - MEDICAL OFFICE- BUILDING UP TO 4 STORIE TOTAL SQUARE FEET 9200 SALES DATE PRIC OWNERS PROPERTY DETAIL SALES INFORMATION   233 Project Item Amount William and Sons 16,300.00$ Fast Signs 17,131.96$ Wilson HR Services Corp 11,600.00$ Goodman Carpet Service 3,344.00$ Total 48,375.96$ 50% Reimbursement 24,187.98$ Plus 20% Contingency 4,837.60$ Max Grant Request 25,000.00$ Design Amount Full Set of Permit Drawings 8,000.00$ 50% Reimbursement 4,000.00$ Grant Request 4,000.00$ TOTAL GRANT REQUEST 29,000.00$ 234 235 236 237 238 239 240 241 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.I SUBJECT: Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $21,000 to Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1 SUMMARY: The CRA's Commercial Rent Reimbursement Grant Program provides qualified new or expanding businesses located within the CRA boundaries with rent payment assistance for a maximum period of 12 months. CRA staff has received a complete grant application from Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1, Boynton Beach, FL 33435 (see Attachments I-II). Blueheart Adult Day Care Center will provide a space for residents and caregivers in need of social and nutritional services to find support and help in caring for their elderly loved ones. Blueheart will be designed to help those in the community with assistance in caring for daily life needs in a professional staff setting. Adults can participate in adult activities Monday - Friday. As an office, Blueheart will employ 8 certified nursing assistants and nurses working 30-40 hours per week. Under the terms of their Landlord-Tenant Lease Agreement, the base rent plus CAM to be paid by the applicant is $6,076.48 per month (see Attachment III). Blueheart qualifies as a Tier II business (as specified in the grant application) and would receive reimbursement for one- half of their monthly rent amount or maximum grant amount of $1,750 per month for a 12- month period, whichever is less. If approved, Blueheart Adult Day Care Center would be reimbursed in the amount of $1,750/month for a period of 12 months or a total grant amount of $21,000 during its first year of business. Grant reimbursements to the approved applicant occur on a monthly basis with proof of rent payments. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $21,000 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 242 •Attachment I - Commercial Rent Reimbursement Grant Program •Attachment II - Location Map •Attachment III - Lease Approval of the Commercial Rent Reimbursement Grant in the amount not to exceed $21,000 to Blueheart Adult Day Care Center L.L.C. located at 709 S. Federal Highway, Unit 1, Boynton Beach, FL 33435. ATTACHMENTS: Description 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 4/2/24, 1:13 PM PAPA Countywide Map https://gis.pbcgov.org/papagis/papa.html#1/1 Reset Select Language ▼ Search by Address, Owner, or PCN Return Property Info Layers Tools & Reports Help View Property Record Print HMRS LLC LOCATION 709 S FEDERAL HWY MUNICIPALITY BOYNTON BEACH PARCEL NO. 08-43-45-28-00-000-5020 SUBDIVISION BOOK/PAGE 22248/342 SALE DATE NOV-2007 MAILING ADDRESS 17825 FIELDBROOK CIR W BOCA RATON FL 33496 1528 USE TYPE 1900 - MEDICAL OFFICE- BUILDING UP TO 4 STORIE TOTAL SQUARE FEET 9200 SALES DATE PRIC OWNERS PROPERTY DETAIL SALES INFORMATION   259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.J SUBJECT: Approval of the Commercial Property Improvement Grant Program in the Amount of $17,756.51 to Elite A & N Catering LLC d/b/a Armenia located at 1550 N. Federal Highway, Unit 12 SUMMARY: The CRA's Commercial Property Improvement Grant Program provides eligible businesses (new or existing) with financial assistance for the initial build-out costs associated with the construction, repaid, and/or rehabilitation of commercial building improvement. The Commercial Property Improvement Grant Programs provides a 50% reimbursement of the applicant's expenditure for the eligible improvements up to a maximum grant total of $50,000. Under the program guidelines eligible improvements must be permanent items that stay with the building. The Program also provides funding assistance related to the design fees for architectural, electrical, civil, mechanical, and/or plumbing improvements for eligible property improvements. Applicants are eligible to receive 50% of the applicant's project budget up to a maximum amount of $10,000. CRA staff has received a complete grant application from Elite A & N Catering LLC d/b/a Armenia located in Ocean Palm Plaza at 1550 N. Federal Highway, Unit 12 (see Attachments I-II). Armenia is a boutique grocer offering unique Eastern European baked goods and groceries imported from France, Germany, Denmark, Poland, Ukraine and Armenia. As a boutique grocer use of a commercial property, the applicant falls under the terms of a Tier I business as outlined in the grant application. The applicant is seeking reimbursement for new flooring, interior paint and signage. The total cost of eligible property improvements is approximately $29,594.19 (see Attachment III). If approved, the applicant is eligible to receive a maximum grant of $17,756.51 in reimbursable funding which includes a 20% contingency for the property improvements provided that the applicant expends an equal amount in matching funds as required under the terms of the grant. The grant is reimbursed to the applicant once the City of Boynton Beach Building Department approves all permit requirements and the proper reimbursement documentation is submitted to CRA staff or approval. FISCAL IMPACT: FY 2023-2024 Budget Project Fund, Line Item 02-58400-444, $17,756.51 for Property Improvements; 280 •Attachment I - Commercial Property Improvement Grant Application •Attachment II - Location Map •Attachment III - Project Quotes CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of the Commercial Property Improvement Grant not to exceed the maximum grant award of $17,756.51 to Elite A & N Catering LLC d/b/a Armenia located in Ocean Palm Plaza at 1550 N. Federal Highway, Unit 12, Boynton Beach, FL 33435. ATTACHMENTS: Description 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 2/7/2018 PAPA Maps http://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434522060000630#1/1  View Property Record Owners YACHTSMANS PROPERTIES LLC Property detail Location 1550 N FEDERAL HWY 1 Municipality BOYNTON BEACH Parcel No.08434522060000630 Subdivision COQUINA COVE IN Book 27258 Page 86 Sale Date DEC-2014 Mailing Address STAJUS CONSULTING LLC C/O 80 BUSINESS PARK DR STE 103 ARMONK NY 10504 1704 Use Type 1100 - STORES Total Square Feet 16772 Sales Information Sales Date Price DEC-2014 3412500 AUG-2005 4700000 JUL-2005 10 JAN-1986 100 JAN-1986 750000 1 2 Appraisals Tax Year 2017 Improvement Value $898,823 Land Value $862,179 Total Market Value $1,761,002 All values are as of January 1st each year Assessed/Taxable values Tax Year 2017 Assessed Value $1,690,530 Exemption Amount $0 Taxable Value $1,690,530 Taxes Tax Year 2017 Ad Valorem $36,575 Non Ad Valorem $7,878 l $ Search by Owner, Address or Parcel 301 Project Item Amount PCK26 LLC (Flooring/Paint)22,924.00$ Floor & Décor Materials 4,020.19$ Preferred Signs 2,650.00$ Project Total 29,594.19$ 50% Reimbursement 14,797.10$ Plus 20% Contingency 2,959.42$ Final Grant Request 17,756.51$ 302 303 304 1 Nicklien, Bonnie From:Narine Hakobyan <narine.hakobyan@yahoo.com> Sent:Wednesday, May 01, 2024 9:52 AM To:Nicklien, Bonnie Subject:Fw: Sign Quote-Armenia This Message Is From an External Sender This message came from outside your organization. ----- Forwarded Message ----- From: ELITE CATERING <eliteancatering@yahoo.com> To: "narine.hakobyan@yahoo.com" <narine.hakobyan@yahoo.com> Sent: Monday, April 29, 2024 at 10:38:04 AM EDT Subject: Fwd: Sign Quote-Armenia Sent from my iPhone Begin forwarded message: From: ARTUR SARGSYAN <floridaartur@gmail.com> Date: April 29, 2024 at 10:33:43 AM EDT To: ELITE CATERING <eliteancatering@yahoo.com> Subject: Fwd: Sign Quote-Armenia Sent from my iPhone Begin forwarded message: From: Preferred <preferredsignsfl@gmail.com> Date: April 25, 2024 at 10:47:22 AM EDT To: floridaartur@gmail.com Subject: FW: Sign Quote-Armenia Please see below and let us know if you have any questions. Thank you! Michele McMahon Preferred Signs Inc. 305 2 1906 North Dixie Highway Hollywood, FL 33020 954-922-0126 Sent from Mail for Windows 10 From: Preferred Sent: Tuesday, April 23, 2024 12:14 PM To: narine.hakobyan@yahoo.com Subject: Sign Quote-Armenia Hi Arthur & Narine: Thank you for your patience. The quote to install a new Channel Letter Sign will be $2650. Please let us know if you would like to proceed and I will send you a invoice for the 50% deposit required. Thanks so much! Michele McMahon Preferred Signs Inc. 1906 North Dixie Highway Hollywood, FL 33020 954-922-0126 Sent from Mail for Windows 10 To help protect your privacy, Microsoft Office preautomatic download of this picture from the Intern Virus-free.www.avg.com 306 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.K SUBJECT: Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $16,455 to Elite A & N Catering LLC d/b/a Armenia located in Ocean Palm Plaza at 1550 N. Federal Highway, Unit 12 SUMMARY: The CRA's Commercial Rent Reimbursement Grant Program provides qualified new or expanding businesses located within the CRA boundaries with rent payment assistance for a maximum period of 12 months. CRA staff has received a complete grant application from Elite A & N Catering LLC d/b/a Armenia located in Ocean Palm Plaza at 1550 N. Federal Highway, Unit 12, Boynton Beach, FL 33435 (see Attachments I-II). Armenia is a boutique grocer offering unique Eastern European baked goods and groceries imported from France, Germany, Denmark, Poland, Ukraine and Armenia. As a boutique grocer, Armenia will employ two employees to manage the daily operations. Under the terms of their Landlord-Tenant Lease Agreement, the base rent to be paid by the applicant is $2,742.50 per month (see Attachment III). Armenia qualifies as a Tier I business (as specified in the grant application) and would receive reimbursement for one-half of their monthly rent amount or maximum grant amount of $2,000 per month for a 12-month period, whichever is less. If approved, Armenia would be reimbursed in the amount of $1,371.25/month for a period of 12 months or a total grant amount of $16,455 during its first year of business. Grant reimbursements to the approved applicant occur on a monthly basis with proof of rent payments. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $16,455 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of the Commercial Rent Reimbursement Grant in the amount not to exceed $16,455 t o Elite A & N Catering LLC d/b/a Armenia located in Ocean Palm Plaza at 1550 N. Federal 307 •Attachment I - Commercial Rent Reimbursement Grant Application •Attachment II - Location Map •Attachment III - Lease Highway, Unit 12, Boynton Beach, FL 33435. ATTACHMENTS: Description 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 2/7/2018 PAPA Maps http://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434522060000630#1/1  View Property Record Owners YACHTSMANS PROPERTIES LLC Property detail Location 1550 N FEDERAL HWY 1 Municipality BOYNTON BEACH Parcel No.08434522060000630 Subdivision COQUINA COVE IN Book 27258 Page 86 Sale Date DEC-2014 Mailing Address STAJUS CONSULTING LLC C/O 80 BUSINESS PARK DR STE 103 ARMONK NY 10504 1704 Use Type 1100 - STORES Total Square Feet 16772 Sales Information Sales Date Price DEC-2014 3412500 AUG-2005 4700000 JUL-2005 10 JAN-1986 100 JAN-1986 750000 1 2 Appraisals Tax Year 2017 Improvement Value $898,823 Land Value $862,179 Total Market Value $1,761,002 All values are as of January 1st each year Assessed/Taxable values Tax Year 2017 Assessed Value $1,690,530 Exemption Amount $0 Taxable Value $1,690,530 Taxes Tax Year 2017 Ad Valorem $36,575 Non Ad Valorem $7,878 l $ Search by Owner, Address or Parcel 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.L SUBJECT: Approval of the Commercial Property Improvement Grant Program in the Amount of $2,753.70 to Jken Boutique LLC located in Ocean Palm Plaza at 1600 N. Federal Highway, Unit 9 SUMMARY: The CRA's Commercial Property Improvement Grant Program provides eligible businesses (new or existing) with financial assistance for the initial build-out costs associated with the construction, repaid, and/or rehabilitation of commercial building improvement. The Commercial Property Improvement Grant Programs provides a 50% reimbursement of the applicant's expenditure for the eligible improvements up to a maximum grant total of $50,000. Under the program guidelines eligible improvements must be permanent items that stay with the building. The Program also provides funding assistance related to the design fees for architectural, electrical, civil, mechanical, and/or plumbing improvements for eligible property improvements. Applicants are eligible to receive 50% of the applicant's project budget up to a maximum amount of $10,000. CRA staff has received a complete grant application from Jken Boutique LLC located in Ocean Palm Plaza at 1600 N. Federal Highway, Unit 9, Boynton Beach, FL 33435 (see Attachments I-II). Jken Boutique is a family-owned and operated boutique offering a wide variety of clothes and accessories for both children and adults. They also carry sunglasses, watches, jewelry, home goods and much more. As a retail use of a commercial property, the applicant falls under the terms of a Tier II business as outlined in the grant application. The applicant is seeking reimbursement for signage. The total cost of eligible property improvements is approximately $4,589.50 (see Attachment III). If approved, the applicant is eligible to receive a maximum grant of $2,753.70 in reimbursable funding which includes a 20% contingency for the property improvements provided that the applicant expends an equal amount in matching funds as required under the terms of the grant. The grant is reimbursed to the applicant once the City of Boynton Beach Building Department approves all permit requirements and the proper reimbursement documentation is submitted to CRA staff or approval. FISCAL IMPACT: FY 2023-2024 Budget Project Fund, Line Item 02-58400-444, $2,753.70 for Property Improvements 352 •Attachment I - Commercial Property Improvement Grant Application •Attachment II - Location Map •Attachment III - Lease •Attachment IV - Sign Quote CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of the Commercial Property Improvement Grant not to exceed the maximum grant award of $2,753.70 to Jken Boutique LLC located in Ocean Palm Plaza at 1600 N. Federal Highway, Unit 9, Boynton Beach, FL 33435. ATTACHMENTS: Description 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 7/25/22, 12:15 PM PAPA Maps https://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434522200000190 1/1  View Property Record Owners OCEAN PALM PLAZA LLC Property Detail Location 1600 N FEDERAL HWY Municipality BOYNTON BEACH Parcel No.08434522200000190 Subdivision YACHTMANS COVE Book 33180 Page 799 Sale Date DEC-2021 Mailing Address 16950 S JOG RD STE 104 DELRAY BEACH FL 33446 2353 Use Type 1100 - STORES Total Square Feet 15250 Sales Information Sales Date Price DEC-2021 7220000 DEC-2014 3412500 AUG-2005 4700000 DEC-1984 700000 MAY-1981 180000 1 2 Appraisals Tax Year 2021 Improvement Value $1,534,140 Land Value $884,489 Total Market Value $2,418,629 All values are as of January 1st each year Assessed/Taxable values Tax Year 2021 Assessed Value $2,418,629 Exemption Amount $0 Taxable Value $2,418,629 Taxes Tax Year 2021 Ad Valorem $51,320 Non Ad Valorem $13,046 Total tax $64,366 Search by Owner, Address or Parcel 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.M SUBJECT: Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $21,000 to Beach House Boutique Inc. located at 1120 S. Federal Highway SUMMARY: The CRA's Commercial Rent Reimbursement Grant Program provides qualified new or expanding businesses located within the CRA boundaries with rent payment assistance for a maximum period of 12 months. CRA staff has received a complete grant application from Beach House Boutique Inc. located at 1120 S. Federal Highway, Boynton Beach, FL 33435 (see Attachments I-II). The Beach House Boutique is looking forward to being a retail destination in Boynton Beach. Not only will Beach House Boutique fill a retail void, but will also be a landmark to attract visitors to experience a coastal shopping experience that offers something for everyone in a charming historic building. As a retail boutique, Beach House Boutique will employ 5 employees from a store supervisor, store manager to sales associates. Under the terms of their Landlord-Tenant Lease Agreement, the base rent to be paid by the applicant is $5,000 per month (see Attachment III). Beach House Boutique qualifies as a Tier II business (as specified in the grant application) and would receive reimbursement for one- half of their monthly rent amount or maximum grant amount of $1,750 per month for a 12- month period, whichever is less. If approved, Beach House Boutique would be reimbursed in the amount of $1,750/month for a period of 12 months or a total grant amount of $21,000 during its first year of business. Grant reimbursements to the approved applicant occur on a monthly basis with proof of rent payments. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $21,000 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of the Commercial Rent Reimbursement Grant in the amount not to exceed $21,000 405 •Attachment I - Commercial Rent Reimbursement Grant Application •Attachment II - Location Map •Attachment III - Lease t o Beach House Boutique Inc. located at 1120 S. Federal Highway, Boynton Beach, FL 33435. ATTACHMENTS: Description 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 11/6/2019 PAPA Maps https://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434527050000011 1/1  View Property Record Owners NADEAU DEZIEL & NADEAU JANET KYSIA Property Detail Location 1120 S FEDERAL HWY Municipality BOYNTON BEACH Parcel No.08434527050000011 Subdivision LEE MANOR ISLES IN Book 29455 Page 1781 Sale Date NOV-2017 Mailing Address 606 S LAKE DR LAKE WORTH FL 33462 4622 Use Type 1200 - STORE/OFFICE/RESIDENTIAL Total Square Feet 3856 Sales Information Sales Date Price NOV-2017 1 JAN-2007 360000 OCT-2000 460000 AUG-1994 256200 JUL-1992 153000 1 2 Appraisals Tax Year 2019 Improvement Value $319,713 Land Value $265,326 Total Market Value $585,039 All values are as of January 1st each year Assessed/Taxable values Tax Year 2019 Assessed Value $585,039 Exemption Amount $0 Taxable Value $585,039 Search by Owner, Address or Parcel 422 423 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.N SUBJECT: Approval of a 6-month Extension to the FY20-21 Commercial Rent Reimbursement Grant Program in the Amount of $7,500 for Appliance King of America Inc. located at 622 N. Federal Highway SUMMARY: The CRA's Commercial Rent Reimbursement Grant Program provides qualified new or expanding businesses located within the CRA boundaries with rent payment assistance for a maximum period of 12 months. On March 9, 2021, the CRA Board approved a 12-month rent reimbursement grant in the amount of $15,000 to Appliance King of America Inc. located at 622 N. Federal Highway, Boynton Beach, FL 33435 (see Attachments I-II). Appliance King of America is a family-owned and operated business that is known for its trusted neighborhood appliance sales, repair and maintenance resource in Palm Beach county. They have made the Boynton Beach CRA area its business home for nearly 23 years before expanding from their 800 square foot location into their new location on Federal Highway. In May 2023, Appliance King opened its doors to the newly renovated 1,840 square foot property. In April 2024, Appliance King of America completed the 12-month rent reimbursement program. On April 11, 2024, David Costanzo, owner of Appliance King of America, made a request to CRA staff for the additional six months of rental assistance as outlined on page 2 of the Commercial Rent Reimbursement Grant Program Application (see Attachment I & III). The FY 2020-2021 grant program provides businesses the opportunity to request an additional six months of reimbursement, which may be granted at the discretion of the CRA Board. As part of the extension request, Appliance King of America shared the additional rental assistance would provide the funding needed to order and install the signage for the façade of the building which totals approximately $5,885 (see Attachments III - IV). As the retail and service center, Appliance King of America employs 14 staff members ranging from a store supervisor, store manager, service technicians and sales associates. Under the terms of their Landlord-Tenant Lease Agreement, the base rent to be paid by the applicant is $2,500 per month (see Attachment V). Appliance King of America qualifies as a 424 •Attachment I - FY20-21 Commercial Rent Reimbursement Grant Program •Attachment II - Location Map •Attachment III - Extension Request •Attachment IV - Signage Quote •Attachment V - Lease Tier II business (as specified in the grant application) and would receive reimbursement for one-half of their monthly rent amount or maximum grant amount of $1,250 per month for a 12- month period, whichever is less. If approved, Appliance King of America would be reimbursed in the amount of $1,250/month for a period of six months or a total grant amount of $7,500 during the six-month extension. Grant reimbursements to the approved applicant occur on a monthly basis with proof of rent payments. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $7,500 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approve the 6-month Extension to the FY20-21 Commercial Rent Reimbursement Grant Program in the Amount of $7,500 for Appliance King of America Inc. located at 622 N. Federal Highway ATTACHMENTS: Description 425 Initials_______ Page 1 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com October 1, 2020 – September 30, 2021 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY COMMERCIAL RENT REIMBURSEMENT GRANT PROGRAM Program Rules and Regulations The Commercial Rent Reimbursement Grant Program is designed to help facilitate the establishment of new businesses and aid in the expansion of existing businesses within the Boynton Beach Community Redevelopment Agency (the “BBCRA”) Area. The program is designed to provide financial assistance to new and existing businesses in the form of rent reimbursement intended to help businesses during the critical first year of operation. The BBCRA reserves the right to approve or deny any Commercial Rent Reimbursement Grant Program application and to deny paym ent at any time if, in its sole and absolute discretion, it determines that the business will not advance the goals and objectives established for redevelopment of the BBCRA Area. The receipt of past payments is not a guarantee of future payments. For purposes of this application, the term “new business” means a company in operation for less than one year or relocating to Boynton Beach. The term “existing business” means a company that has been in operation within the BBCRA Area for a minimum of two years at the time of application and has at least two years remaining on its existing lease. The Boynton Beach BBCRA is a public agency and is governed by the “Florida Public Records Law” under Florida State Statutes, Chapter 119. Any documents provided by the Applicant(s) may be produced by the BBCRA upon receipt of a public records request, subject to any exemptions provided by Florida Law. 426 Initials_______ Page 2 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Incentive Funding The Commercial Rent Reimbursement Grant Program offers financial assistance through a reimbursable grant in the form of a monthly rent reimbursement for the first 12 months of business with the option to request an additional 6 months of reimbursement, which may be granted at the discretion of the Board. New businesses are eligible to apply for assistance for up to one year from the issuance of the City of Boynton Beach Business Tax Receipt. Rent Reimbursements will not be paid until all construction has ended, permits are closed out, City and County licenses are obtained, and the business is open for operation under a Temporary Certificate of Occupancy (TCO) or a Certificate of Occupancy (CO). For businesses that do not require any construction work, rent reimbursements will not be paid until City and County licenses are obtained and the business is open for operation. On a monthly basis, the BBCRA will issue reimbursement directly to the applicant. Reimbursement is for the monthly rent payment made to the landlord , and is dependent upon receipt of verification that the payment has been cleared by the bank. The responsibility for all rental payments is between the parties to the lease, (the tenant and the landlord). As grantor, the BBCRA does not bear or accept any responsibility for payment of rent at any time, or for penalties incurred for the late arrival of payments by any party. Applicants are also encouraged to connect with CareerSource Palm Beach County which is a State organization providing various free programs to assist Palm Beach County businesses. CareerSource Palm Beach County has a dedicated team of career counselors, business coaches and training providers to help area businesses stay competitive through training grants and talent acquisitions and also provide assistance in posting available jobs, recruiting and hiring, and training opportunities. For more information regarding CareerSource Palm Beach County visit their website at careersourcepbc.com. 427 Initials_______ Page 3 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Eligibility Requirements Applicants must meet all of the following requirements in order to be considered eligible to receive grant funding:  Applicant must be a new business, or an existing business that is expanding in size.  Applicant must be the business entity (or d/b/a) named and the principal owners named on the corporation documents, and must be the landlord or business owner of the company occupying the property to be improved.  Must be located within the BBCRA Area (see attached map).  Must provide proof that the business is properly licensed by all necessary levels of government and professional associations or agencies (copies of city and county licenses or receipts that the licenses have been applied for).  Non-profit and residentially zoned properties are NOT eligible.  An existing business must expand to occupy more than 50% of its current square footage size or open a second location within the BBCRA Area. Verification of this threshold must be provided in the application package. Exceptions to this rule may be made at the discretion of the BBCRA Board if the tenant is losing their current space due to redevelopment of the site.  The Applicant’s Experian consumer credit report must reflect an acceptable level of financial stability, as determined in the sole discretion of the BBCRA Applicants must have an Experian credit score of 601 or higher and have no listed history of bankruptcy to be eligible. If there is more than one business owner, the majority of the business owners must have credit scores of 601 or higher to be eligible.  Applicant must have an executed multi-year lease with at least two years remaining on the lease.  Proposed leases must be executed within 30 days of BBCRA Board approval or the grant award is terminated.  The Commercial Rent Reimbursement Grant Program may only be used one time by any one specific business entity or business owner.  Grantees shall allow the BBCRA the rights and use of photos and project application materials. 428 Initials_______ Page 4 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com  The BBCRA Board may give preference to local businesses. For purposes of this grant, local business means a duly licensed business entity with an office location in Palm Beach County. Ineligible Businesses The following businesses are considered ineligible for assistance under the Commercial Rent Reimbursement Grant Program:  Firearm Sales/Shooting Range  Convenience Store  Religion-Affiliated Retail Stores  Churches/places of worship  Non-profit organizations  Take-out Foods  Check Cashing Stores  Kava Tea Bars  Tattoo Shops / Body Piercing / Body Art Shops  Adult Entertainment  Liquor Stores  Adult Arcades  Vapor Cigarette, E Cigarette Stores  Alcohol and/or Drug Rehabilitation Centers/Housing  Massage/Personal Services  Auto Services Facilities – repair, storage, sales, etc  CBD Retail Stores, etc.  Medical Research Centers/Housing  Pawn Shops  Any other use that the BBCRA staff or BBCRA Board determine will not support the redevelopment of the BBCRA Area Grant Terms and Conditions This grant is divided into two tiers of eligibility. Businesses are classified into tiers based on the type of business, which then determines the amount of eligible funding. Grant funding amounts will be based on the applicant’s project budget specified at the time of BBCRA Board approval. Tier One Business Tier One Businesses are eligible for reimbursement for up to half (50%) of the business’s base monthly rent or $1,750 per month, whichever is less (maximum amount of the grant is $21,000, distributed in four monthly payments). 429 Initials_______ Page 5 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Tier One Businesses must be one of the following types of businesses:  Restaurant  Bakery  Gourmet Food Market Tier Two Business Tier Two Businesses are eligible for reimbursement for up to half (50%) of the business’s base monthly rent or $1,250 per month, whichever is less (maximum amount of the grant is $15,000, distributed in four monthly payments. Examples of Tier Two Businesses include, but are not limited to, the following types of businesses:  Home Décor/Design – home furnishings, art galleries, kitchen wares  Clothing Boutique – clothing, shoes & accessories  Law Offices  Accounting Offices  Real Estate Offices  Hair/Nail Salons (no more than 2 approvals per fiscal year)  Marketing Offices  Fitness Centers  Medical Offices  Insurance Offices  Specialty Businesses – stationary, gifts, sporting goods  Florists (no more than 2 approvals per fiscal year) Lease Terms If the applicant is a tenant, it must have a proposed or executed multi-year lease with a minimum of two years remaining on the lease. The commercial lease must define the landlord-tenant relationship and at minimum provide the following information:  A description of the space being rented, including square footage and a drawing of the space;  Description of utilities that are the tenant’s responsibility;  Rental rate and deposits along with terms of lease and methodology for future rent increases;  Responsible party for interior and exterior repairs and/or improvements;  Insurance requirements; 430 Initials_______ Page 6 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com  Ability to terminate; and  Consequences of default on the lease. For purposes of this paragraph, the term “subject property” means the leased premises of the grant recipient, for which the applicant or grant recipient is se eking rental reimbursement, or any part thereof . Grant recipients are prohibited from subletting the subject property. If a grant recipient sublets the property, the grant recipient will be required to repay the BBCRA for all grant money received up to that point and will not be eligible to receive any further grant funding. For purposes of this grant, the BBCRA considers the following to be subletting: A) executing a sublease, assignment, or similar agreement with an entity that is not the grant recipient; B) allowing the subject property to be occupied by any business entity in which the grant recipient is not listed as the registered agent, owner, officer o r director of said business, or assisting such a business in so doing; C) allowing or assisting a business entity other than the grant recipient to list its place of business as the subject property; or D) allowing or assisting a business entity other than the grant recipient to obtain a business tax license from the City of Boynton Beach f or the subject property. The fact that a business entity other than the grant recipient occupies the subject property, lists its place of business as the subject property, obtains a business tax license for the subject property, or similarly appears to use the subject property is sufficient evidence that the grant recipient has allowed or assisted such other business entity to do so and is grounds for termination of any further grant payments and seeking reimbursement for previously paid grant payments. However, it shall not be considered a prohibited subleasing when the business purpose of the applicant is to provide a space for aspiring businesses, such as when the applicant is a business incubator, commissary kitchen, or business that provides co-op workspace. The BBCRA will determine whether a certain applicant fits into the exception described in this paragraph on a case-by-case basis. Application Process Applications can be obtained from the BBCRA office located at 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 or downloaded from www.boyntonbeachcra.com. All applicants are required to meet with BBCRA staff in order to determine eligibility before 431 Initials_______ Page 7 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com submitting an application. Applications will not be considered until all required documentation is submitted to the BBCRA office. Application to this grant program is not a guarantee of funding. Funding is at the sole discretion of the BBCRA Board. Applicants must submit an original, “hard copy” application with all materials to the BBCRA for review and approval by the BBCRA Board. Applicants will be considered on a first-come, first served basis. Application packets must include the following documentation: 1. A non-refundable fee of $100, which will be used to obtain a consumer credit report on the business and principal/owners of business. Make check payable to: Boynton Beach CRA. 2. Resume for each principal/owner of the business. 3. Copy of the corporate documents for the applying business entity. 4. Copy of City and County Business Licenses (Business Tax Receipt). 5. Copy of executed multi-year commercial lease agreement. 6. Two years of corporate tax returns (for existing businesses only). 7. Two years of personal tax returns for the principal/owners of a new business. 8. List of jobs to be created and filled including job descriptions, pay range and weekly schedule. For existing businesses, provide a list of all current positions including job descriptions, pay range and weekly schedule. 9. If applicant is an existing business expanding to occupy more than 50% of its current square footage size, verification of this threshold must be provided in the application package. Exceptions to this rule may be made at the discretion of the BBCRA Board if the tenant is losing their current space due to redevelopment of the site. 10. Completed and signed application (attached). 11. Authorization to perform credit check for the business and each principal/owner of the business (attached). 12. W9 Form and Vendor Application (attached). Approval of Funding Request All required application documentation must be submitted no later than noon two weeks prior to the second Tuesday of the month. BBCRA staff will review the application to 432 Initials_______ Page 8 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com evaluate whether the applicant is eligible for reimbursement. If it meets these requirements, BBCRA staff will present the funding request to the BBCRA Board for review and potential approval. In order to request the 6-month extension, the applicant must submit a presentation at the completion of the 12 months of rent reimbursement, outlining how their first year went and requesting the additional 6 months of rent reimbursement. The presentation must be submitted no later than noon two weeks prior to the second Tue sday of the month The BBCRA Board meets on the second Tuesday of each month. The sche dule for BBCRA Board meetings can be obtained at www.boyntonbeachcra.com. Applicants will be notified of the date and time that their applications will be considered by the BBCRA Board. The BBCRA recommends that applicants attend the BBCRA Board meeting during which the Board will consider their applications in order to answer any questions the BBCRA Board may have regarding their applications. BBCRA staff will notify the applicant of the BBCRA Board’s approval or denial in writing. Site Visits BBCRA may conduct a site visit prior to transmitting the application to the BBCRA Board and once the project is completed. Staff may also conduct unannounced site visits before, during and after the project in order to determine and ensure compliance with the terms of the grant. Procedures for Reimbursement Monthly rent reimbursement payments will be provided to the grant recipient beginning the first month the business is open for operation subsequent to BBCRA Board approval. A maximum of 12 consecutive monthly rent payments are eligible to be reimbursed to the approved applicant, with the option to request an additional 6 months . Reimbursement will occur on a monthly basis. Following the initial Reimbursement Request, each reimbursement request shall be made within 30 days of the start of the next month. 433 Initials_______ Page 9 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com In order to receive monthly rent reimbursement the grant applicant must submit the following: 1. Written request for reimbursement. 2. Proof of rent payments (i.e., copies of the front and back of cancelled checks for that month’s reimbursement or proof of direct deposit). If applicant does not submit its monthly reimbursement request within 30 days following the end of the next month in which applicant is requesting reimbursement, applicant forfeits that month’s reimbursement. Discontinuation of Payment The receipt of past payments does not guarantee future payments. The BBCRA retains the right to discontinue rent reimbursement payments at any time at its sole and absolute discretion. SUBMISSION OF AN APPLICATION IS NOT A GUARANTEE OF FUNDING It is the responsibility of the applicant to READ AND UNDERSTAND all aspects of the Grant Program’s Rules/Requirements and Application. NOTICE TO THIRD PARTIES: The grant application program does not create any rights for any parties, including parties that performed work on the property. Nor shall issuance of a grant result in any obligation on the part of the BBCRA to any third party. The BBCRA is not required to verify that entities that have contracted with the applicant or applicant’s landlord have been paid in full, or that such entities have paid any subcontractors in full. Applicant’s submittal of verification that monthly rental pa yments have been cleared by the bank warranty is sufficient assurance for the BBCRA to award grant funding. 434 APPLICANT INFORMATION Page 10 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com BUSINESS INFORMATION: Business Name (d/b/a if applicable): ____________________________________________________________________________ ____________________________________________________________________________ Current Business Address: ____________________________________________________________________________ ____________________________________________________________________________ Fed ID#:____________________________ Business Phone Number: ____________________________ Fax: ______________________ Website: ___________________________________________________________________ Existing Business: Yes _________ No ________ Number of years in existence: __________ Time at Current Location: _________________ New Business to Boynton Beach: Yes __________ No _________ Do you have an executed lease agreement: Yes ____________ No _______ If so, monthly base rent: ___________________ New Business Address: ____________________________________________________________________________ ____________________________________________________________________________ Square footage of current location: __________ Square footage of new location: ___________ Type of Business: ____________________________________________________________ Number of Employees: _______________ Hours of Operation: __________________________ 435 APPLICANT INFORMATION Page 11 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com PRINCIPAL/OWNER INFORMATION: (If more than 4 principals/owners additional sheets may be used) 1. Principal/Owner Name: _____________________________________________________ Date of Birth: ________________ Email: _______________________________________ Residential Address: ________________________________________________________________________ ________________________________________________________________________ Cell Phone Number: ______________________ 2. Principal/Owner Name: _____________________________________________________ Date of Birth: ________________ Email: _______________________________________ Residential Address: ________________________________________________________________________ ________________________________________________________________________ Cell Phone Number: ______________________ 3. Principal/Owner Name: _____________________________________________________ Date of Birth: ________________ Email: _______________________________________ Residential Address: ________________________________________________________________________ ________________________________________________________________________ Cell Phone Number: ______________________ 4. Principal/Owner Name: _____________________________________________________ Date of Birth: ________________ Email: _______________________________________ Residential Address: ________________________________________________________________________ ________________________________________________________________________ Cell Phone Number: ______________________ 436 APPLICANT INFORMATION Page 12 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Are you applying for grant assistant under any other program offered by the BBCRA? Yes _______ No ______ If yes, what additional programs are you applying for: _________________________________________________________________________ Are you receiving grant assistance under any other governmental agencies: Yes __ No ___ If yes, list any additional grant sources and amounts: __________________________________________________________________________ LANDLORD INFORMATION: Landlord Name: __________________________________________________________ Landlord’s Mailing Address: ___________________________________________________________________________ ___________________________________________________________________________ Landlord’s Phone Number: ______________________________________________________ CERTIFICATION AND WAIVER OF PRIVACY: For purposes of this certification and waiver of privacy, the term “I” refers to the applicant and to all signatories below individually. By signing below, each signatory represents and confirms that he or she is authorized to sign on behalf of the applicant(s). I, the undersigned applicant(s), certify that all information presented in this application, and all of the information furnished in support of the application, is given for the purpose of obtaining a grant under the Boynton Beach Community Redevelopment Agency Commercial Rent Reimbursement Grant Program, and it is true and complete to the best of my knowledge and belief. I further certify that I am aware of the fact that I can be penalized by fine and/or imprisonment for making false statements or presenting false information. I further acknowledge that I have read and understand the terms and conditions set forth and described in the Boynton Beach 437 APPLICANT INFORMATION Page 13 of 15 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Community Redevelopment Agency Commercial Rent Reimbursement Grant Program Rules and Requirements. I understand that this application is not a guarantee of grant assistance, and that award of grants is at the sole discretion of the Boynton Beach Community Redevelopment Agency Board. I understand that the purpose of the grant is to further the Boynton Beach Community Redevelopment Plan, and that the Boynton Beach Community Redevelopment Agency may decline my application for any legal reason, including the reason that granting the award will not further the Community Redevelopment Plan. Should my application be approved, I understand that the Boynton Beach Community Redevelopment Agency may, at its sole discretion, discontinue grant payments at any time if in its sole and absolute determination it feels such assistance no longer meets the program criteria or is no longer furthering the Boynton Beach Community Redevelopment Plan. To the maximum extent possible, I hereby waive my rights to privacy and confidentiality for all matters contained in my application, and give my consent to the Boynton Beach Community Redevelopment Agency, its agents and contractors to examine any confidential information given herein. I further grant permission, and authorize any bank, employers or other public or private agency to disclose information deemed necessary to complete this application. I specifically authorize the Boynton Beach Community Redevelopment Agency to run a credit report as part of this application, and understand that information in my credit report, including a record of bankruptcy, may disqualify me from obtaining grant funding. I give permission to the Boynton Beach Community Redevelopment Agency or its agents to take photos of myself and business to be used to promote the program. I understand that if this application and the information furnished in support of the application are found to be incomplete, it will be not processed. 438 439 440 3/1/2021 PAPA Maps https://maps.co.palm-beach.fl.us/cwgis/papa.html?qvalue=08434522000007020 1/1  View Property Record Owners 622 N FEDERAL HIGHWAY INVESTMENTS LLC Property Detail Location 622 N FEDERAL HWY Municipality BOYNTON BEACH Parcel No.08434522020010030 Subdivision CIVIC CENTER SUB Book 32165 Page 1246 Sale Date JAN-2021 Mailing Address 622 N FEDERAL HWY BOYNTON BEACH FL 33435 4125 Use Type 2400 - INSURANCE Total Square Feet 1840 Sales Information Sales Date Price JAN-2021 425000 NOV- 2005 243593 JUL-2004 315000 JAN-1979 50000 Appraisals Tax Year 2020 Improvement Value $103,712 Land Value $129,389 Total Market Value $233,101 All values are as of January 1st each year Assessed/Taxable values Tax Year 2020 Assessed Value $233,101 Exemption Amount $0 Taxable Value $233,101 Search by Owner, Address or Parcel 441 12-MONTH RENT REIMBURSEMENT INFORMATION Business Name (include any d/b/a): Address: Applicant Name: Original Grant Approval Date: Total 12-Month Grant Award: $ Rent Reimbursement Commencement Date: Rent Reimbursement Completion Date: Amount Received to Date: $ ADDITIONAL 6-MONTH RENT REIMBURSEMENT EXTENSION REQUEST 6-Month Reimbursement Requested Months: 6-Month Grant Request: Current Lease Expiration Date: Are there any changes to the business since the original application date (i.e. change in ownership, staffing, lease terms) ___ Yes, If so explain below changes below ___ No Please provide supportive information and/or reasons for your request (use additional pages as needed): Appliance King of America 622 N Federal Hwy, Boynton Beach FL, 33435 David Costanzo 15000 15,000 15,000 5/1/2023 4/30/2023 X $7,500 5/1/2024 - 10/31/2024 Our business was severely affected by the delay in issuing the building permit by the city. Our original rent reimbursement was submitted 3/2021 and due to these permit delays we could not collect the grant unti 5/2023. During this over 2 year delay we had to pay for two locations simultaniously(the rent at our previos location andthe motgage at the new building). This caused significant hardship from which we are still recovering from today. We are still unable to afford a sign for the facade of our building. If the board isgracious enough to grant this extension it would help us recover from the previously mentioned hardship and help us to fully complete the sign for the building. 3/9/2021 4/30/2024 442 Applicant’s Signature:______________________________________________ Date of Request:________________________________________ FOR OFFICE USE ONLY: Anticipated CRA Board Meeting Date:____________________________ 4/9/2024 443 MACLAREN SIGN CO. QUOTEQUOTE Date: March 22, 2024 Job Number: 32224 TO: Appliance King Of America 622 N Federal Hwy. Boynton Beach, FL 33435 ITEM NO. QTY DESCRIPTION UNIT PRICE TOTALTOTAL 1.00 Set plastic face channel letters 5,250.00 5,250.00 80" Overall height Aluminum returns and back Acrylic faces Internally illuminated with LED modules UL Labeled Electric to within 6' of sign by customer Layout per customer provided drawing #21215 1.00 Labor to process permit 250.00 250.00 All fees associated with permit to be invoiced seperately. All required inspections included in permit labor. Terms: 50% Upon contract Balance upon delivery Subtotal 5,500.00 Tax rate: 7 %Tax 385.00 Total 5,885.00 444 PHONE: 561-374-9111 FAX: 561-374-8605 RE VI SI ONS #DESCRIPTION DATE BY D RAWN B Y SH EET O F 01 S HEE T S A-1 DAT E SC ALE STEVE CARACCIO DRAWING # 1/4” = 1’ APPLIANCE KING BOYNTON BEACH, FLORIDA2-9-21 21215 39” 10-1/2” 16-1/4” 6-1/8” 80” 445 446 447 448 449 450 451 452 453 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CONSENT AGENDA AGENDA ITEM 11.O SUBJECT: Approval of Tax Increment Revenue Funding Agreement (TIRFA) with BB1 Development LLC (aka Hyperion Group, LLC) (“BB1”) for the Ocean One Project - REVISED 05/14/2024 SUMMARY: The Boynton Beach Community Redevelopment Agency ("BBCRA") entered into a Purchase and Development Agreement (PDA) and Tax Increment Revenue Funding Agreement (TIRFA) with Ocean One Boynton, LLC on January 16, 2018, for the BBCRA owned property located at 222 N. Federal Highway for the amount of $1,000 (see Attachment I - III). The closing and transfer of property ownership to the Developer occurred on February 24, 2018. The Ocean One Mixed-use Project site plan, which was approved by the City of Boynton Beach City Commission on April 17, 2017, Phase I of the project included 231 multi-family residential rental units, a parking structure and 8,600 (+/-) square feet of commercial space (see Attachment IV). The TIRFA with Ocean One Boynton, LLC, expired on January 16, 2021 (see Attachment V), which termination was acknowledged by the CRA Board at their February 9, 2021 meeting. Under the terms of the Purchase and Development Agreement, Section 18.2 required the Developer to commence construction of the public plaza on the CRA's parcel within 12 months of the expiration of the Commencement of Construction period which equated to January 16, 2021. The property was subsequently sold to BB1 Development LLC (aka Hyperion Group, LLC) (“BB1”) in December 2021. On April 18, 2023, City Commission approved a Major Master Plan Modification, Major Site Plan Modification, and six Community Design Appeal requests (see attachment VI) for Ocean One project (“the Project”). The Project, as proposed, is a mixed-use development including 371 residential units as well as approximately 25,000 SF of retail/commercial space. On, September 12, 2023, the CRA board approved the first amendment to the Purchase and Development Agreement (see Attachment VII), amending Section 18.2 to require BB1 to: Submit its application for building permit for the Project within one year from the date of effective date of the Amendment (September 12, 2024); and Commence construction of the Project within six months of the issuance of the building 454 permit. On January 3, 2024, CRA staff met with BB1 to discuss the possibility of Tax Increment Funding (TIF) for the Project. CRA staff provided BB1 the TIRFA considerations and a summary of TIRFAs for other developments (see attachment VIII and IX). On January 10, 2024, CRA Staff received an email from BB1 including an application for TIF. The application materials submitted included a cover letter summarizing the project and request for TIF, an Economic and Fiscal Impacts and Financial Gap Analysis, a term sheet, and a draft agreement (see Attachment X - XIII). BB1 submitted a revised draft agreement and term sheet on March 21, 2024 (see Attachment XIV & XV) In summary, BB1’s application requested 95% of the Project TIF over the course of 15 years up to a maximum of $11,500,000.00. As consideration, Developer proposed: To construct 90 public parking spaces restricted for use by the public; To construct the Project in accordance with several green building standards; and To incorporate various tools to promote local hiring and the use of Locally Owned Small Businesses for construction of the Project. BB1 proposes to commence construction of the Project within 2 years of the Effective Date of the agreement, if approved. On March 28, 2024, CRA staff received an Evaluation of the TIRFA request for the project from Abramson & Associates, Inc., who was hired by the CRA as a third-party financial consultant to assist in reviewing the TIRFA request (see Attachment XVI). The evaluation focused on the Project’s need for TIF funding and the financial impact to the CRA of awarding the requested TIF as proposed. The evaluation also includes general comments evaluating the public benefits proposed by BB1. Based upon his evaluation, Mr. Abramson confirmed that the BB1’s assumptions are generally in the range of reasonableness, and that, in the current development market, there is a financial feasibility gap requiring the requested TIF subsidy for the Project. Notwithstanding that conclusion, he noted that relatively small variations in assumptions and/or improvements in the development market over the two-year timeframe could significantly reduce, or even, eliminate the subsidy requirement. On April 9, 2024, BB1 presented their TIRFA request before the CRA Board. After the presentation and discussion, the Board directed CRA legal and staff to work with the BB1 team to negotiate the terms of the TIRFA and bring back the revised terms at a special meeting on May 7th at 5:00 PM. On April 12, 2024, and April 24, 2024, CRA legal/staff met with BB1 to negotiate the terms of the TIRFA. At the conclusion of the meetings, the terms discussed are as follows (see Attachment XVII): BB1’s revised application requests 95% of the Project TIF over the course of 12 years up to a maximum of $9,900,000.00. As consideration, Developer proposes: To construct ninety (90) public parking spaces located on the second floor of the parking garage restricted for use by the public in perpetuity, of which thirty-one (31) spaces are above what code requires; 455 •Attachment I - Purchase and Development Agreement •Attachment II - TIRFA Ocean One Boynton •Attachment III - Amendment 1 TIRFA Ocean One Boynton •Attachment IV - Project Description Ocean One •Attachment V - Letter from Bonnie Miskel RE TIRFA expiration •Attachment VI - Site Plan •Attachment VII - First Amendment to Purchase and Development Agreement Ocean One Hyperion •Attachment VIII - Typical TIRFA Considerations •Attachment IX - CRA Summary of all TIRFAs •Attachment X - TIF Letter dated January 10, 2024 •Attachment XI - Fishkind Analysis •Attachment XII - Draft TIRFA Term Sheet dated January 10, 2024 •Attachment XIII - Draft TIRFA Agreement •Attachment XIV - Revised Draft TIRFA Agreement Dated March 21, 2024 •Attachment XV - Revised Draft Term Sheet Dated March 21, 2024 •Attachment XVI - Evaluation of TIRFA Request •Attachment XVII - April Meeting Notes •Attachment XVIII - Draft TIRFA Provided By Developer To construct twenty (20) on street parking spaces, ten (10) of which are contingent upon FDOT approval, restricted for use by the public in perpetuity; 20% of parking revenue will be shared in perpetuity with the CRA; To commence construction by September 30, 2025, with one 6-month extension by the Board to not be unreasonably withheld; Agreement shall terminate within five (5) years of the Effective Date if the Developer has not completed construction of the Project; Parking easement (or 99-year lease agreement) to ensure that the Parking Improvements be reserved for public use in perpetuity; To construct the Project in accordance with several green building standards; and To incorporate various tools to promote local hiring and the use of Locally Owned Small Businesses for construction of the Project. Per the Special CRA Board Meeting held on May 7, 2024, the CRA Board and BB1 agreed to the terms of the draft TIRFA Agreement as presented (Attachment XVIII) with a maximum of $9,000,000.00 in TIF funding. A final TIRFA Agreement was approved to be brought back to the CRA Board as a Consent agenda item and subject to legal review (Attachment XIX). FISCAL IMPACT: To be determined by the CRA Board. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Tax Increment Revenue Funding Agreement (TIRFA) with BB1 Development LLC (aka Hyperion Group, LLC) (“BB1”) and allow the Chair to execute the TIRFA Agreement for the Ocean One Project. ATTACHMENTS: Description 456 •Attachment XIX - Final TIRFA for Agenda with Exhibits 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 January 5, 2021 By email Chair, Steven B. Grant Vice Chair, Ty Penserga Board Member, Justin Katz Board Member, Woodrow Hay Board Member, Christina Romelus Community Redevelopment Agency City of Boynton Beach Re: Update on Purchase and Development Agreement and Tax Increment Revenue Funding Agreement regarding Ocean One Boynton, LLC Dear Chair Grant, Vice Chair Penserga, and Board Members: As you will recall, at your last meeting, the Board discussed the Tax Increment Revenue Funding Agreement (“TIRFA”) expiration currently scheduled to expire on January 16, 2021 , and the status of the Purchase and Development Agreement (“Agreement”) between the Boynton Beach Community Redevelopment Agency (“CRA”) and Ocean One Boynton, LLC (“Developer”), including commencement of construction of the public plaza on the CRA’s parcel . In response to your inquiry, on behalf of my client, I agreed to respond back to the Board with my client’s plan related to the Agreement and TIRFA and its plan for redevelopment. As it relates to redevelopment of the subject property, my client is in negotiation with a venture partner to move forward with redevelopment. To that end, my client and the venture partner have evaluated the economics o f the transaction, and even with the tax increment incentives allocated in accordance with the TIRFA, the project as currently approved is not economically feasible given the rent rates applicable to the area. As such, my client has concluded that it makes no sense to proceed under the current TIRFA and in an effort to be fully transparent is prepared to let the TIRFA expire. Rather than working with the framework of the TIRFA, my client and its venture partner are in the process of considering other alternatives in response to the current economic environment and would prefer to work out all the details and return to the Board at a later date with a plan that is economically viable and will result in the redevelopment of the subject property. As to the Agreement, my client is requesting a six month extension to the condition to the Agreement requiring the commencement of construction of the public plaza to give my client sufficient time to submit its alternative proposal. We are happy to attend your next meeting to discuss this request further. Sincerely, Bonnie Miskel, Esq. BM/rmm cc: Mike Simon, Executive Director Tara Duhy, Esq. Mr. Davis Camalier 565 OCEAN ONE 114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FL OWNER:ARCHITECT:CIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:LANDSCAPE ARCHITECT: ARQUITECTONICA 2900 OAK AVENUE, MIAMI, FLORIDA 33133 305.372.1812 HYPERION GROUP 1690 S CONGRESS AVE #100. DELRAY BEACH, FL 33445 KIMLEY HORN 561.330.2345 2900 OAK AVENUE, MIAMI, FLORIDA 3313305.372.1812 TEL GEO ARQUITECTONICA 305.372.1175 FAX888 Biscane Blvd, Suite 101Miami, FL 33132 SITE PLAN APPROVAL FEBRUARY 2023 SITE PLAN APPROVAL 24 FEBRUARY 2023 566 567 A0-01LOCATION / ZONING MAP©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXLOCATION / ZONING MAP568 PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ARTRETAILLOADINGCOMMERCIAL5319 SFAMENITYSPACETRASHRETAILFITNESS3827 SFSPA1091 SFLOBBYCOMMERCIAL9254 SFCOMMERCIAL2295 SFCOMMERCIAL6423 SFCOMMERCIAL2316 SFFFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVD43' @ 8.1%0102030405060708091011121314151617181920FFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-6" NAVD"STOP" SIGN"STOP" SIGNR 5 'R5'62'-8"62'-8"92'-11"10'8'2'-6"8'10'10'8'10'8'2'-6"2'-6"10'2'-6"7'-6"10'-6"2'-6"2'-6"10'10'8'2'-6"8'-8"20'-5"WALL ANDFENCES HEIGHT:8'FTSEE A1-40137'-4"28'-9" 2'5" 10'24'18'-6" @ 9.5%RESILOADINGTR.24'56 PARKINGSPACESRAMP UP 15'-0"116' @ 12.9%MEP31' @ 10.4%FFE 6'-3" NAVDFFE 7'-0"NAVDR 5 'R5'R 5 'R5'R5'PACKAGE ROOM 543 SFRR51'-7"22'R15'26'-8"MANAGEMENTOFFICEMAIL 543 SFMEPRRRRRR22'22' 35' 35'158'-3"107'-11"64'143'-1"93'-4"170'-4"367'-7"64'64'108'-5" 11' 33'-2"8'10'2'-6"32'-7"8'8'10'2'-6"8' 24'28'25'17'-10"107'-11"134'-4"131'-4"78'-5"75'-6"64'134'-4"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACK64'CANOPY ATDROP-OFF78'-7"108'-5"LOBBYFFE 7'-0" NAVD2 TRASH CHUTES:1 REGULAR1 RECYCLINGRESIDENTIAL BIKESTORAGE (54 SPACES)25'CANOPYCANOPYCANOPYCANOPYCANOPYCANOPYCANOPY16 BIKES16 BIKESPLANTERPLANTERPLANTERPLANTERPLANTERPLANTERNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLVEHICULAR RATEDPRECAST CONCRETEUNIT PAVERS / DARKCOBBLESMASTER PLAN / SITE PLAN1/25" = 1'-0''©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-02MASTER PLAN / SITE PLANLEGENDPROPERTY LINESETBACK LINE SIDEWALKTREE PLANS - INDICATED IN LANDSCAPE PLANSSERVICE AREA - CIRCULATIONSPOOL SEATINGRETAILRESIDENTIAL - AMENITIES0'30'60'10'5'15'FPL EASEMENTSTEP BACK LINEF&B SEATINGBICYCLES - REFER TO LANDSCAPE PLANFOR SPECIFICATIONSSTREET LIGHTING POLE - REFER TO CIVIL PLANFOR LOCATIONS AND PHOTOMETRICS569 24'NORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE 549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRMSTRMSTRMSTRM STRM STRM STRM STRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRMSTRMSTRMSTRMSTRMSTRM STRM STRMSTRMSTRMSTRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRMSTRMSTRMSTRMSTRMSTRMSS SS SS SS SS SS SS SS SS SS SS SS SSSSSSSSSSSSSSSSSS SS SS SSSSSSSSSSGASGASGASGASGASGASGAS GASGASGASGASGASGASGASGASGAS GASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGAS FFFFFFFFFFFFFFFFFFFFF F FFWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W 15'15'15'15'15'15'25'25' 30'-5"295'15'15'15'15'25'25'EASEMENT AND UTILITY LINES1/25" = 1'-0''©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-03EASEMENT AND UTILITY LINESLEGENDSEWER PIPE0'30'60'10'5'15'SIDEWALK EASEMENTFP&L EASEMENTGASSTRMFWSSGAS LINESEWER DRAINFIRE LINEWATER LINESIGHT LINE TRIANGLESROAD MARKINGSPROPERTY LINECENTERLINE ROWCL570 A0-04SITE DATASITE DATA©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAX571 ©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-05MASSING STUDYNE VIEWBOYNTON BEACH BLVD / NORTH FEDERAL HIGHWAYRETAILAMENITIESRESIDENTIAL UNITSMECHANICAL ROOFLEGEND572 PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLOPEN SPACE63,497.5 SQ. FT.39.25 %VEHICULAR USE AREA6,267.9 SQ. FT.3.87 %BUILDING COVERAGE AREA - RESIDENTIAL AND RETAIL59,228.8 SQ. FT.36.61 %BUILDING COVERAGE AREA - GARAGE27,154.6 SQ. FT.16.78 %SIDEWALKS & PAVED AREA36,408.0 SQ. FT.22.5 %GREEN AREA12.7 %20,582.5 SQ. FT.A0-06VEHICULAR USE AREA & GREENAREA CALCULATIONS60'15'5'30'100'©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXSITE PROPERTY SIZE: 161,789 SQFT1/50" = 1'-0''1/50" = 1'-0''1/50" = 1'-0''1/50" = 1'-0''573 24'PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ARTRETAILLOADINGCOMMERCIAL5319 SFAMENITYSPACETRASHRETAILFITNESS3827 SFSPA1091 SFLOBBYCOMMERCIAL9254 SFCOMMERCIAL2295 SFCOMMERCIAL6423 SFCOMMERCIAL2316 SFFFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVD43' @ 8.1%0102030405060708091011121314151617181920FFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-6" NAVD"STOP" SIGN"STOP" SIGNR5'R5'62'-8"62'-8"92'-11"10'8'-8"20'-5"WALL ANDFENCES HEIGHT:8'FTSEE A1-40137'-4"28'-9"2'5"10'24'18'-6" @ 9.5%RESILOADINGTR.24'56 PARKINGSPACESRAMP UP 15'-0"116' @ 12.9%MEP31' @ 10.4%FFE 6'-3" NAVDFFE 7'-0"NAVDR 5 'R5'R5'R5'R5'PACKAGE ROOM 543 SFRR51'-7"22'R15'26'-8"MANAGEMENTOFFICEMAIL 543 SFMEPRRRRRR22'22'35' 35'158'-3"107'-11"64'143'-1"93'-4"170'-4"367'-7"64'64'108'-5"11' 33'-2"8'10'2'-6"32'-7"8'8'10'2'-6"8'24'28'25'17'-10"107'-11"134'-4"131'-4"78'-5"75'-6"64'134'-4"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACK64'CANOPY ATDROP-OFF78'-7"108'-5"LOBBYFFE 7'-0" NAVD2 TRASH CHUTES:1 REGULAR1 RECYCLINGRESIDENTIAL BIKESTORAGE (54 SPACES)25'CANOPYCANOPYCANOPYCANOPYCANOPYCANOPYCANOPY16 BIKES16 BIKESPLANTERPLANTERPLANTERPLANTERPLANTERPLANTERNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLVEHICULAR RATEDPRECAST CONCRETEUNIT PAVERS / DARKCOBBLESNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCL343234343434 3428283234 34342828322828 343434343434282834 3434343434 34343434342834 3434 3434 28 3432 343424'24' RAMP UP 8'-6"116' @ 12.9%RAMP DN 15'-0"9'18' 18'12'145' @ 5.8%24'TR64'108'-5"64'UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT C(2BR 2BTH)1020 SQ. FT.UNIT D(2BR 2BTH)1202 SQ. FT.UNIT B(STUDIO)551 SQ. FT.UNIT E(2BR 2BTH)1097 SQ. FT.UNIT F(STUDIO)612 SQ. FT.UNIT G(1BR 1BTH)837 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)727 SQ. FT.UNIT J(2BR 2BTH)1015 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A2(1BR 1BTH)832 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT K(1BR 1BHT)766 SQ. FT.20'-3" 143'-1"158'-3"21'134'-4"64'107'-11"103'-4"367'-7"27'-8"167'-10"94'-3"93'-4"UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT C(2BR 2BTH)1020 SQ. FT.UNIT D(2BR 2BTH)1202 SQ. FT.UNIT B(STUDIO)551 SQ. FT.UNIT E(2BR 2BTH)1097 SQ. FT.UNIT F(STUDIO)612 SQ. FT.UNIT G(1 BR 1BTH)837 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT K(1BR 1BHT)766 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT L(1BR)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT L(1BR)725 SQ. FT.UNIT H(STUDIO)579 SQ. FT.STGUNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT J(2BR 2BTH)1015 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A1(1BR 1BTH)843 SQ. FT.UNIT C1(2BR 2BTH)1209 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.STGESTGSTG79'-1"UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A3(1BR 1BTH)798 SQ. FT.STGUNIT I(STUDIO)649 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.STG12'-2"21'-2"64'34'-3"160'-11"18'-1"30'-5"12'-1"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACKPARKING99 SPACESLEVEL 20'120'30'10'60'1/25" = 1'-0''200'©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-10PUBLIC PEDESTRIANCIRCULATION DIAGRAMLEGENDPUBLIC PEDESTRIAN CIRCULATION DIAGRAMGROUND FLOOR1/25" = 1'-0''0'120'30'10'60'200'LEGENDPUBLIC PEDESTRIAN CIRCULATION DIAGRAMTHE RETAIL USERS HAVE ACCESS TO THE GARAGE ON LEVELS 01 AND 02.THE LEVELS ARE CONNECTED WITH 1 DEDICATED ELEVATOR, SERVING ONLY THESE 2 LEVELS.THE REGULAR CONNECTION BY THE STAIR WILL BE PROVIDED BY THE SOUTH-EAST STAIR,WITH A DIRECT ACCESS TO NE 6TH COURT.574 575 576 01460691‐3 TIRFA AGREEMENT CONSIDERATIONS Project Requirements  List of required improvements, such as: parking, dwelling units, parks, sidewalks, landscaping, etc.  Other requirements, such as: o Prevailing wage, job fair, job placement, local preference; o Community outreach; o Green Building/LEED certification; o Dedicated workforce housing units; o Usage limitations; and/or o Other public benefits. CRA Incentives  Amount and term of tax increment revenue funding  Property: o Terms of sale – Price and Closing Date o Reverter/Right of First Refusal Benchmarks  Project Commencement/Completion dates  Dates for permit applications to be submitted  Dates or phasing requirements for specific improvements, occupancy rates, etc.  Financial assurances and milestones  Monitoring: o Submission of information to CRA ‐ certificates of occupancy, photographs, evidence of leasing rates, other developer certifications o Inspection o Reports to CRA Board at CRA meetings  Audit and Annual Performance Reporting Requirements – dates; information required to be included  Termination date Ensuring Compliance  Termination and default: o Termination Date o Under what circumstances should the CRA be able to terminate the Agreement/what constitutes default? o Steps to be taken in the event of default Other Provisions  Assignability: o Can the developer assign the benefits of the agreement to another party if developer sells, and under what circumstances?  With or without the approval of the CRA Board?  All of the obligations and benefits of the Agreement or only portions?  Assignment to a related company, a company that purchase the developer, or related parties?  Acceptable delays (force majeure) – pandemic, acts of God, fire, etc. 577 Development Name Fiscal Year Project Type Conditions/Deliverables for TIRFA Request Amount of TIRFA Funding Requested TIRFA Term Pre-Project Property Tax Assessed Value Post-Project Property Tax Assessed Value Property Tax Increment Value at Project Completion Tax Increment Revenue to Developer/Owner Tax Increment Revenue to CRA TIRFA Status Casa Costa 2004-2005 Market Rate Mixed-Use Development The Project provided affordable access commercial lease space, ensure public access to the 111 commercial parking spaces and public access to the delineated public areas for the life of the Project Project Gap Amount or Developer Requested Amount is Unspecified in the TIRFA 10 years $119,816.00 $89,668,407.00 $89,548,591.00 $4,552,374.77 $5,110,027.63 Term Completed The Preserve 2005-2006 Affordable Homeownership & Multi-family Apartments The Project provided 50 affordable units for homeownership as attached townhomes, then restructured to affordable multi-family rental Project Gap Amount or Developer Requested Amount is Unspecified in the TIRFA 10 years $1,025,800.00 $11,871,085.00 $10,845,285.00 $351,225.88 $511,200.26 Year 6 Seabourn Cove Phase I 2011-2012 Market Rate Multi-family Apartments The Project was to meet or exceed the National Association of Home Builders', American National Green Building "Gold" Standard. At the completion of the Project, it had achieved the "Platinum" Standard Project Gap Amount or Developer Requested Amount is Unspecified in the TIRFA 10 years $3,120,000.00 $73,675,967.00 $70,555,967.00 $3,107,361.00 $3,107,361.00 Year 8 Seabourn Cove Phase II 2011-2012 Market Rate Multi-family Apartments The Project was to meet or exceed the National Association of Home Builders', American National Green Building "Gold" Standard. At the completion of the Project, it had achieved the "Platinum" Standard Project Gap Amount or Developer Requested Amount is Unspecified in the TIRFA 10 years $195,000.00 $25,606,271.00 $25,411,271.00 $1,156,256.00 $1,156,256.00 Year 7 500 Ocean 2014-2015 Market Rate Mixed-Use Development The Project was to meet the National Association of Home Builders', American National Green Building "Silver" Standard and providing 6,600sqft of Office space Project Gap Amount or Developer Requested Amount is Unspecified in the TIRFA 10 years: Years 1-4 @ 75%; Years 5-7@50%; Years 8-10@25% 3,921,916.00$ 47,395,724.00$ 43,473,808.00$ 828,445.89$ 276,148.63$ Year 2 Ocean One 2017-2018 Market Rate Mixed-Use Development The Project was to provide 231 multi- family units; 8,575 sqft of commercial space; provide fifty (50) public parking spaces; obtain Florida Green Building Standard Project Gap Amount or Developer Requested Amount is Unspecified in the TIRFA 8 years: Years 1-7@75% Year 8@50% -$ -$ -$-$ -$ The proposed Project was delayed and the TIRFA expired on 2/9/21 Pre-Project Property Tax Assessed Value Post-Project Property Tax Assessed Value Property Tax Increment Value at Project Completion Tax Increment Revenue to Developer/Owner Tax Increment Revenue to CRA 8,382,532.00$ 248,217,454.00$ 239,834,922.00$ 9,995,663.54$ 10,160,993.52$ BBCRA: Summary of Tax Increment Revenue (TIR) and Tax Increment Revenue Funding Agreements (TIRFAs) 578 January 10, 2024 1 888 Biscayne Boulevard, Ste. 101, Miami, FL 33132 |9 West 57th Street, New York, NY 10019 | (o) 305.416.7550 | www.hypdev.com Chair Ty Penserga Vice Chair Thomas Turkin Board Member Woodrow Hay Board Member Angela Cruz Board Member Aimee Kelley Boynton Beach Community Redevelopment Agency Timothy Tack, Acting Executive Director 100 E. Ocean Ave Boynton Beach, FL 33435 Re: 114/222 N Federal Highway - Public Parking Proposal and TIF Incentive Application Dear CRA Chair, Vice Chair, Board Members and Acting Executive Director, BB1 Development, LLC (“BB1”) is the owner of +/- 3.71 acres located at 114/222 North Federal Highway (the “Property”). The proposed project, Ocean One (“the Project”), is a mixed-use development including 371 residential units as well as approximately 25,000 SF of retail/commercial space. The Project has approximately 21,000 SF of green space and 36,000 SF of sidewalks and paved areas including a public plaza with outdoor seating connecting to the commercial space, accounting for over 35% of the total site area. In addition, the Project is incorporating green elements into the design such as energy efficient air conditioners, cool roof pavers, energy efficient LED lighting fixtures and 100% Energy Star rated appliances. The BB1 development team has worked closely with the City and CRA staff over the last year including adding design features at the building façade to achieve the aesthetic goals set forth by the City and to maintain the appropriate level of high quality design. Of the 371 units, 200 are housing units below 750 SF, which is a category of housing encouraged by the Boynton Beach zoning code for the purpose of providing a broader range of housing attainable at different income levels. The site plan for the Project was approved on April 18, 2023. The Project is providing many benefits to the City of Boynton Beach all of which are consistent with the Goals and Objectives of the CRA Plan as well as the CRA Downtown Vision and Master Plan. Together with this letter we are providing a report performed by economic consultant Hank Fishkind, an expert retained by municipalities across Florida in these matters. According to Mr. Fishkind’s report, the economic benefits include revenues to the City of Boynton Beach and the BBCRA of $81.0 million in direct property taxes and operating surplus (measured through the year 2061), plus indirect tax revenue of tens of millions of dollars. Job creation includes over 230 permanent jobs, and over 1,800 temporary direct and indirect jobs (over 1,400 directly related to the construction of the Project with over $111.0 million in earning potential). Mr. Fishkind’s analysis of Project benefits and capitalization gap concludes that it is necessary and appropriate for the Project to receive an award of $11.5 million from the CRA’s Tax Incentive Funding Program (“TIF”). BB1 has listened carefully to feedback from the public and city officials about the need for more public parking spaces in downtown Boynton Beach, and the expressed desire to incentivize BB1 to provide public parking. With this in mind, BB1 is proposing to provide 90 parking spaces within our garage for public parking, as outlined below. BB1 is also providing infrastructure investment above and beyond typical site requirements, to benefit the community. With these specific parking and infrastructure initiatives, BB1 is providing over $6.0 million in additional benefits directly responsive to the needs of the Boynton Beach community. 579 January 10, 2024 2 Parking Allocation Upon the Project’s site plan approval, the development team met with representatives from the INCA condo association, Mariner’s Village condo association, and the Casa Costa condo association to discuss the Project and the future of downtown Boynton Beach in general. It was clear that the public believes more public parking spaces are needed in order to accommodate current and future downtown amenities. While it is understood by Boynton Beach stakeholders that the Project is providing sufficient parking for its own needs and is not responsible beyond this, BB1 is willing to provide a parking solution which can add 90 public spaces by both creating new parking spaces and allocating current commercial-use only parking spaces to be used by the general public. The Project is currently approved for 653 parking spaces including both on -street and garage parking spaces. Of those parking spaces, 128 spaces are currently allocated for private commercial use by the future commercial tenants of the Project. After working with the architect of the Project, we are able to redesign the garage to add an additional 32 parking spaces in lieu of shrinking the garage for cost savings for a total of 160 spaces not designated towards residential units. Rather than realize the cost reduction, BB1 will provide these 32 parking spaces for use by the general public. In addition, BB1 will convert 58 previously commercial use-only spaces to public spaces (the total 90 spaces are the “New Public Parking Spaces”). The New Public Parking Spaces will be available for public use, and the remaining 70 parking spaces will continue to be dedicated to commercial tenants. BB1 will be responsible for managing and metering the New Public Parking Spaces and will retain such revenue. The New Public Parking Spaces are valued at $5.0 million. As summarized in the attached chart (Exhibit A), this valuation is derived from a baseline value from the TIF agreement with Affiliated Residential at 115 N Federal Highway in February 2023, in which 150 commercial parking spaces were converted to general public use in exchange for a $7.0 million TIF partnership. The Board may be aware that in 2017 the previous Project site owner received TIF for 75% of the full potential tax revenues over a period of 7 years and 50% of potential tax revenues for 1 year thereafter, equating to approximately $5.3 million in TIF value ($4.2 million in 2017 based on calculation from US Bureau of Labor Statistics) for developing half of the Project site with 231 units, approximately 8,500 SF of retail and the dedication of 50 public parking spaces (compared to BB1’s development of the entire site with 371 units, 25,000 square feet of commercial space, and almost double the public parking spaces in an environment of significantly higher construction costs and interest rates). Additional Public Benefits Infrastructure and Community Outreach BB1 has been working with the City of Boynton Beach as part of the Project site plan on several infrastructure items that benefit the surrounding properties that would typically not be included in a standard single development project. These include items such as a Sanitary Force Main Upgrade, Water Main Extension and Drainage Improvements. The total cost will be approximately $1.0 million. A detailed list of these items with their associated costs is provided by Kimley-Horn, the civil engineer on the Project, as Exhibit B. Prior to and during construction, BB1 will be partnering with a local community outreach partner in order to coordinate on issues pertaining to employment of City residents and jobs for Locally Owned Small Businesses. BB1 and the community outreach partner will host a job fair, when feasible give priority to qualified job applicants to participate in the construction of the Project and use good faith efforts to offer permanent job positions resulting from the Project to qualified City residents . Specifically, BB1 and the community outreach partner will notify and refer job training and job placement opportunities to the Boynton Beach Community High School and South Tech Academy in Boynton Beach in the event each are able and willing to provide such training. 580 January 10, 2024 3 Summary The TIF award is a critical component for the project to secure the construction financing it needs to begin construction. With a TIF in place and subject to lender and equity financing, BB1 anticipates filing for a building permit within the next 6 months. BB1 looks forward to delivering this transformative project to Boynton Beach and providing the needed public parking. BB1 is requesting the Project be provided with TIF equal to 95% of tax revenue, with a cap. Mr. Fishkind’s report notes the significant public benefits and recommends TIF assistance for gap capitalization of $11.5 million. When adding this amount to the $6.0 million of parking and infrastructure benefits being provided, the CRA can consider a cap at $17 million. In the interest of an expedient resolution so the project can secure construction financing and be ready to begin construction, BB1’s request is $11.5 million. This is essentially the amount Mr. Fishkind recommended the project requires for financing and would incorporate the millions in value being provided for 90 public parking spaces and infrastructure costs. In summary, our TIFRA request is broken down for the following Public Benefits: - Public Parking: $5,000,000 - Infrastructure: $1,000,000 - For Future BBCRA Tax Revenues From Project (Per Fishkind $11,5000,000) $5,500,000 - Total: $11,500,000 Thank you for your consideration. Sincerely, Robert Vecsler Principal and CEO, Hyperion CC: Daniel Dugger, City Manager Andrew Mack, Deputy City Manager Kathryn Matos, Assistant City Manager Adam Temple, Assistant City Manager Kathryn B. Rossmell, Esq., CRA Attorney Bonnie Miskel, Esq. 581 January 10, 2024 4 Exhibit A 582 January 10, 2024 5 Exhibit B 583 ` ECONOMIC AND FISCAL IMPACTS AND FINANCIAL GAP ANALYSIS FOR OCEAN ONE August 23, 2023 Prepared for Mr. Jordan Thaler, VP, Acquisitions BB1 Development LLC 888 Biscayne Boulevard, Suite 101 Miami, FL 33132 Prepared by Hank Fishkind, Ph.D. Fishkind Litigation Services, Inc. 3504 Lake Lynda Drive, Suite 107 Orlando, Florida 32817 Hankf@fishkindls.com Office: 407-382-3256 584 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 2 of 24 EXECUTIVE SUMMARY • BB1 Development LLC is planning the development of Ocean One, an eight-story, mixed-use development, of 371 units of market-rate, rental, apartments, 25,588 square feet of retail space, and 665 parking spaces. • The development of Ocean One will have a substantial impact on the economy of Boynton Beach and the surrounding county generating 1,835 construction jobs and supporting 238 permanent jobs in Boynton Beach. • Development of Ocean One will generate over $1.5 million per year in tax increment revenues for the Boynton Beach Community Redevelopment Agency. • BB1 Development LLC has agreed to provide (a) 90 public parking spaces at an estimated value of $5 million and (b) $1 million in extraordinary public infrastructure for the benefit of the City of Boynton Beach. • Development of Ocean One will also provide at current estimates over $2.2 million in non-ad valorem operating revenues to the City of Boynton Beach annually. In addition, the City will receive $1.1 million for Arts in Public Places, over $220,000 in park impact fees, and more than $220,000 in downtown capital contributions fees. • However, the capitalization and immediate development of Ocean One is currently significantly challenged due to sharp increases in construction costs and interest rates. • As a result, its projected rate of return now falls far below market levels. • The contribution of 75% of the incremental revenues generated by Ocean One to the BBCRA for ten years, totaling $11.5 million (present value of $8 million), closes the financial gap making the project financially viable. 585 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 3 of 24 1.0 Introduction 1.1 Assignment BB1 Development LLC commissioned Fishkind Litigation Services, Inc. (“FLS”) to: (a) measure the economic and fiscal impacts of its Ocean One project on Boynton Beach, and (b) quantify the tax increment financing (“TIF”) needed to make Ocean One financially feasible (“Gap Analysis”). 1.2 Overview of the Report Our report begins with an overview of the Ocean One project in Section 2. Section 3 presents the economic analysis measuring the jobs, earnings, and output supported by the construction and operation of Ocean One. Section 4 turns to the fiscal impacts of Ocean One on Boynton Beach’s CRA and City government. FLS calculates the revenues generated by Ocean One and the costs to provide public services to the project. Finally, Section 5 quantifies the financial gap for Ocean One and the amount of TIF needed to make the project financially feasible. 1.3 Limitations and Disclaimers Although our analysis is based on cost inputs from BB1 Development LLC that are consistent with our experience and from third party sources including Costar and Realtyrates.com, FLS is solely responsible for our findings, analysis, and conclusions. Our report uses the most current data available at the time of its publication, but we are not retained to provide updates as economic conditions may evolve in the future. 2.0 Overview of Ocean One 2.1 Location Ocean One is located at the southwest corner of Boynton Beach Boulevard and U.S. 1 North Federal Highway. The site is 3.71 acres bounded by East Ocean Avenue to the south and Northeast Sixth Court on the east. Figure 1 provides a location map. 586 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 4 of 24 Figure 1. Location Map for Ocean One 2.2 Development Plan Ocean One will be an eight-story, mixed-use development, with 371 units of market-rate, rental, apartments, 25,588 square feet of retail space, and 665 parking spaces. Table 1 summarizes the development program for Ocean One. 587 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 5 of 24 Table 1. Development Program Summary for Ocean One Uses Volumes Average Unit Size Estimated Monthly Rent Apartments Studio (1 bath) 42 592 $2,340 1BR (1 bath) 224 738 $2,492 1BR+D (1 bath) 14 815 $2,738 2BR (2 bath) 91 1,102 $3,691 ===== Total Apartments 371 814 Annual Retail square feet 25,588 $33.20 Parking Spaces 665 Source: Site Plan and Costar Underwriting Report for Avion Riverwalk. As discussed in more detail below, the estimated monthly rental rates are market determined. Based on our market analysis, the estimated rents in Table 1 are competitive with recently developed apartment projects in Boynton Beach. To be successful, Ocean One must be competitively priced and designed to promote a rapid rent up of the apartments and retail space. 3.0 Economic Impact Analysis 3.1 Overview Economic impact analysis calculates the economic effects of a change in economic activity on an area’s economy typically measured in terms of jobs, earnings, and value-added. In this application, the analysis focuses on the impacts on Boynton Beach’s economy from the construction and operations of Ocean One. Impacts from the construction phase and the ope rational phase of Ocean One are measured in terms of jobs, earnings, and value - added. FLS used the IMPLAN input-output modeling system as described below. The economic impacts are measured for Palm Beach County, because that is the smallest level of geog raphy for which reliable calculations can be developed. 588 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 6 of 24 3.2 Methodology To quantify the economic impact of Ocean One, FLS employed the IMPLAN input-output modeling system.1 IMPLAN is widely used by economists to calculate the economic impacts of developing commercial land uses or residential apartments. IMPLAN is routinely used by the State of Florida’s Department of Economic Opportunity.2 IMPLAN is a computer software package comprising procedures for estimating local input-output models using locally specific databases. IMPLAN was originally developed by the U.S. Forest Service in cooperation with the Federal Emergency Management Agency and the U.S. Department of the Interior's Bureau of Land Management to assist in land and resource management planning. Since 1993, the IMPLAN system has been developed under exclusive rights by the Minnesota Implan Group, Inc. which licenses and distributes the software to users. Currently, there are hundreds of licensed users in the United States including universities, government agencies, and private companies. The Department of Food and Resource Economics at the University of Florida is a licensed user of IMPLAN along with the State of Florida and many other governments and private companies. We have used IMPLAN widely in our work. Input-output modeling was developed in the 1930s by Nobel Prize winning economist Leontief.3 The methodology has been refined and used continuously since then.4 An input-output model is built around quantifying the interactions between industries (or sectors) within an economy. Each industrial or service activity within the economy (agriculture, mining, manufacturing, trade, services, etc.) is assigned to an economic sector with the number of sectors determined by the level of detail desired. Then, for a one-year production period, a transactions table reflects the value of goods and services exchanged between sectors of the economy. The transactions table contains three components of the local economy: producing industries, final demand, and value added, which capture all transactions within the economy. The transactions table shows how much each local industry purchased and/or sold to every other industry within the local economy. Values are expressed in dollars and track the movement of goods and services between industry sectors and between producing industries and final demand and value-added components of the economy. 1 www.IMPLAN.com 2 http://www.floridajobs.org/labor-market-information/products-and-services/economic-impact- analysis 3 Leontief, Wassily (1936), “Quantitative Input-Output Relations in the Economic System of the United States”, Review of Economics and Statistics, Volume 18, pages 105-125. 4 See Miller, Ronald E. and Peter D. Blair (2009), Input-Output Analysis, Cambridge University Press: NY, NY. 589 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 7 of 24 Impact analysis using an input-output model is conducted by estimating the changes in final demand. Producing industries then respond directly by selling to final consumers or indirectly by selling goods and services (intermediate inputs) to other industries. The IMPLAN software and database quantify both the estimation of the transactions table for specific local areas and the resulting tables to estimate multipliers that capture the direct and indirect effects of changes in final demand. IMPLAN calibrated for the Palm Beach County (the smallest geography available) was used in this analysis. In this application the change to final demand is calculated for each of the two land uses, retail and residential. The analysis is provided for the construction of each land use and for its operating impacts once constructed and occupied. 3.3 Construction Period Impacts BB1 Development LLC plans to begin the construction of the Project in 2024 with completion in June 2026. Construction costs are estimated at $110 million. Table 2 summarizes the economic impacts during the 31 -month construction period. During the construction period the project will support 1,835 jobs measured on a full-time equivalent basis. Of these, 1,456 will be directly supported by the construction with the balance being indirectly supported or induced by the flow of construction spending. More than $111 million in earnings will be generated with value-added more than $170 million. Table 2. Economic Impact Summary Construction Period of Ocean One Category Jobs Earnings $M Value Added $M Direct 1,456 $88 $130 Indirect 143 $9 $15 Induced 236 $14 $25 ======= ======= ======= Total 1,835 $111 $171 Source: IMPLAN and FLS 590 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 8 of 24 3.4 Permanent Economic Impacts Ocean One is projected to be fully occupied and operational by January, 2027. As Table 3 shows, the spending by the occupants of the 371 apartments and the sales at the 25,588 square feet of retail/commercial space will support 238 jobs with $12 million per year in earnings having a value added of $19 million. Table 3. Economic Impact Summary Stabilized Operations of Ocean One Category Jobs Earnings $M Value Added $M Direct 95 $3 $4 Indirect 12 $1 $1 Induced 131 $8 $14 ======= ======= ======= Total 238 $12 $19 Source: IMPLAN and FLS 4.0 Fiscal Impacts 4.1 Overview In this application, fiscal impacts measure the cost and revenue effects of Ocean One on the budgets of Boynton Beach and its CRA (“BBCRA”). Exhibit #1 contains a complete fiscal impact analysis and report. The results are summarized below. 4.2 Methodology FLS calculates fiscal impacts based on: (a) the latest adopted budgets for the government; (b) Florida laws governing CRAs and property taxation; and (c) demographic data on population, employment, and visitor volume. For a general-purpose government, like the City, the analysis includes all revenues and expenditures in for the following funds: (a) general, (b) special revenue, (c) permanent, (d) internal service, (e) pension, and (f) component units. The debt service fund is excluded, because it relates to prior capital projects and is funded from existing pledged revenues. The capital project fund is not included, because development projects like Ocean One are required to offset their capital impacts in the entitlements process. Finally, the enterprise fund comprised operations that are self-funding through their fees and charges. 591 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 9 of 24 To quantify the fiscal impacts of Ocean One on the City, FLS uses the modified per capita approach. Excluding ad valorem revenues, each revenue and expenditure account in the City’s budget is examined to determine if it is associated with population, employment, or visitor volume. For example, law enforcement (accounts 521.10, 521.30, and 521.60) is provided to all residents, visitors, and employees. Law enforcement cos t is divided by the full-time equivalent number of residents, visitor, and employees. This weighted expenditure is applied to Ocean One to measure its impacts on law enforcement cost. Other revenue and expenditure accounts are only related to residents. For instance, municipal revenue sharing (account 335125) is determined from a population formula. So, only residents are used to calculate the per capita revenue sharing figure to apply to Ocean One’s residents. The BBCRA was established by City Ordinances 82-KK and 83-41. BBCRA is an independent agency and component unit of the City. BBCRA is governed by a board comprised of elected officials. The BBCRA’s primary revenue source is tax increment revenues collected from the City and Palm Beach County within the legally defined redevelopment area of the BBCRA. BBCRA staff informs that for FY2022-23, the BBCRA will receive revenues based on the City millage rate of 7.85, and the County’s general fund millage rate of 4.715 for a combined millage of 12.5 65. The development of Ocean One will not necessitate any increase in BBCRA staff or operating costs. Additionally, Ocean One will not have a material impact on other non-ad valorem revenues for the BBCRA. Therefore, our analysis of the fiscal impact of Ocean One on BBCRA will focus in its impact on BBCRA ad valorem revenues. 592 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 10 of 24 4.3 Fiscal Impacts of Ocean One on the City’s Budget The fiscal impact of Ocean One on the City’s budget is summarized in Table 4. The analysis is presented in constant $2023 dollars without trending for inflation. Upon completion, Ocean One will have a taxable value of $177 million. Ninety-five percent of the ad valorem tax revenue from Ocean One will be transferred to the BBCRA because the project is within the BBCRA area. However, Ocean One will also generate almost $2.3 million per year of other revenues for the City. The City will incur significant annual expenses to provide governmental services to Ocean One totaling $1.5 million. On a net basis, Ocean One will contribute about $700,000 per year to the City’s budget. Table 4. Fiscal Impact of Ocean One on the City of Boynton Beach Constant $2023 Dollars Year Assessed Values Ad Valorem Ad Valorem Transferred to BBCRA Total Operating Revenue Total Operating Expenditure Net Fiscal Impact 2027 177,087,194 1,390,134 (1,335,666) 2,251,049 1,534,141 716,907 2031 184,418,709 1,447,687 (1,393,219) 2,251,049 1,534,141 716,907 2036 194,015,408 1,523,021 (1,468,553) 2,251,049 1,534,141 716,907 2046 214,748,175 1,685,773 (1,631,305) 2,251,049 1,534,141 716,907 2056 237,719,798 1,866,100 (1,811,632) 2,251,049 1,534,141 716,907 2061 250,120,839 1,963,449 (1,908,981) 2,251,049 1,534,141 716,907 4.4 Fiscal Impacts on the CRA’s Budget Table 5 shows the fiscal impacts of Ocean One on the BBCRA’s budget. The assessed value is estimated based on the cost for Ocean One’s development provided by BB1 Development LLC and discussed more fully below. In the initial years, the property appraiser assesses commercial properties based on the cost approach. Over time the appraiser shifts to the income approach. FLS projects that the residential property values will appreciate at a 1% real rate (1% more than inflation) and the retail component will escalate at a 1.5% real rate. The ad valorem values for the BBCRA revenues are calculated at the effective BBCRA millage rate totaling 9.55 in FY 2020 (the latest year for which full information is available). This effective rate includes consideration of the 95% share of ad valorem revenues the CRA receives as well as the assessment ratio applied by the property appraiser to just values of property to adjust from market value to assessed value. 593 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 11 of 24 Table 5. Fiscal Impact of Ocean One on the Boynton Beach Community Redevelopment Agency’s Budget Years Ocean One Assessed Value Ocean One Ad Valorem 2013 Ad Valorem Ad Valorem Increase County Increment Total Tax Increment Revenues 2027 177,087,194 1,390,134 54,468 1,335,666 289,253 1,624,919 1,543,673 2028 178,892,041 1,404,303 54,468 1,349,835 292,321 1,642,155 1,560,048 2029 180,715,447 1,418,616 54,468 1,364,148 295,421 1,659,569 1,576,590 2030 182,557,605 1,433,077 54,468 1,378,609 298,552 1,677,162 1,593,303 2031 184,418,709 1,447,687 54,468 1,393,219 301,716 1,694,935 1,610,188 2032 186,298,956 1,462,447 54,468 1,407,979 304,913 1,712,891 1,627,247 2033 188,198,548 1,477,359 54,468 1,422,891 308,142 1,731,033 1,644,481 2034 190,117,684 1,492,424 54,468 1,437,956 311,404 1,749,360 1,661,892 2035 192,056,569 1,507,644 54,468 1,453,176 314,701 1,767,877 1,679,483 2036 194,015,408 1,523,021 54,468 1,468,553 318,031 1,786,584 1,697,254 2037 195,994,410 1,538,556 54,468 1,484,088 321,395 1,805,483 1,715,209 2038 197,993,784 1,554,251 54,468 1,499,783 324,794 1,824,577 1,733,348 2039 200,013,744 1,570,108 54,468 1,515,640 328,228 1,843,868 1,751,674 2040 202,054,504 1,586,128 54,468 1,531,660 331,697 1,863,357 1,770,189 2041 204,116,280 1,602,313 54,468 1,547,845 335,202 1,883,047 1,788,895 2042 206,199,293 1,618,664 54,468 1,564,196 338,743 1,902,940 1,807,793 2043 212,577,977 1,635,185 54,468 1,580,717 342,321 1,923,037 1,826,885 2044 214,748,175 1,651,875 54,468 1,597,407 345,935 1,943,342 1,846,175 2045 216,940,741 1,668,737 54,468 1,614,269 349,587 1,963,856 1,865,663 2046 219,155,909 1,685,773 54,468 1,631,305 353,276 1,984,581 1,885,352 Total 30,668,302 1,089,360 29,578,942 6,405,631 35,984,572 34,185,344 At stabilization in 2027, Ocean One will contribute $1.5 million to the BBCRA. Over time this increases based on our assumptions concerning real property appreciation. 4.5 Value of Public Spaces and Amenities provided by Ocean One Not only will Ocean One generate a positive fiscal impact for the City’s budget and over $1.5 million to the BBCRA, the development plan for Ocean One includes nearly an acre of public greenspace with full hardscape and landscaping featuring a large public plaza fronting Ocean Avenue. These public greenspaces and hardscaping have an estimated cost in excess of $400,000 without consideration of land costs. 594 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 12 of 24 5.0 Financial Gap Analysis 5.1 Overview Financial gap analysis compares the financial performance of a development project with and without financial support. Financial support may be justified when a project requires financial support to allow it to achieve a rate of return commensurate with market rates for projects of similar characteristics and risk profiles. Financial performance for rental apartment projects is measured at the time the project achieves stabilized operations. At that time , projects are either sold to investors or refinanced. The value of the project is determined at that time via the income approach using the capitalization of income method (“Cap Rate”).5 The value of the project is calculated by dividing the project’s stabilized net operating income (“NOI”) by the Cap Rate. For example, if the stabilized NOI is $100 and the Cap Rate is 10%, the value of the project is $1,000. Cap Rates are market determined rates estimated from the data on the sales of apartment projects and their stabilized NOIs. These data are readily available from a variety of reliable sources. FLS uses Costar. The development of Ocean One is no longer financially feasible due to recent sharp increases in construction costs and interest rates. As a result, its projected rate of return now falls far below market levels. The contribution of 75% of the incremental revenues generated by Ocean One to the BBCRA for ten years, totaling $11.5 million (present value of $8. million), closes the financial gap enhancing the financial viability of the project. 5.2 Methodology Real estate development projects, like Ocean One, use detailed and highly proprietary cash flow pro forma models for planning, analysis, decision making, financing, and monitoring. BB1 Development LLC provided FLS with a copy of its financial model, and we used it as the foundation for our analysis. FLS then developed our own independent financial analysis. Cost Analysis Public records show that BB1 Development LLC acquired the land for Ocean One for $12 million. The project is planned for 668,643 total square 5 Fishman, Jay et al. (2012), Guide to Business Valuation, Thompson-Reuters, Section 503. 595 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 13 of 24 feet of space inclusive of the rental apartments, retail space, and parking area. Of this, 327,456 are projected to be rentable square feet. Development costs are estimated at $255 per gross square foot and $511 per rentable square foot. These estimates are consistent with other projects FLS is participating in and reasonable based on current cost estimates from RH Means. Total project cost for Ocean One is estimated at $170 million. Calculations for Stabilized NOI for Ocean One Apartment rental rates rose strongly in 2021 and 2022 across the U.S. and in the relevant marketplace for Ocean One in Boynton Beach , as shown in Figure 2. For comparative purposes, FLS chose Pacifica along with 17 other comparable apartment projects as shown in Table 6. Pacifica’s effective rent per square foot jumped from about $1.60 in 2020 to an average of $2.60 in 2022. Comparable rents in the marketplace rose f rom $1.45 per square foot in 2020 to $2.25 by 2022. Rents in other Boynton Beach projects and in similar projects in Palm Beach County followed similar trajectories. However, rental rate escalation stopped in 2022 as rents flattened out. Figure 2. Overall Effective Rents per Square Foot Source: Costar 596 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 14 of 24 Table 6. Comparable Apartment Projects Property Name/Address Yr. Built Units Avg Unit SF Rent/SF 500 OCEAN 101 S Federal Hwy 2018 341 934 $2.59 Avion Riverwalk 630 E Woolbright Rd 2023 319 1,019 $3.10 Pacifica 1100 Audace Ave 2019 324 973 $2.58 Santorini at Renaissance… 1645 Renaissance Comm… 2018 226 830 $2.54 Sea Lofts at Boynton Village 600 Sea Lofts Dr 2020 433 1,007 $2.52 One Boynton 1351 S Federal Hwy 2009 494 1,152 $2.47 Manor Lantana 900 Water Tower Way 2021 348 1,164 $2.40 High Ridge Landing 3609 High Ridge Way 2016 184 1,049 $2.26 Ashley Lake Park 5020 Ashley Lake Dr 1987 300 888 $2.23 Whalers Cove 2301 S Congress Ave 1991 136 1,144 $2.19 Cortland West Boynton 7933 Venture Center Way 2000 264 1,143 $2.12 Verona at Boynton Beach 1575 SW 8th St 2002 216 1,097 $2.09 Seabourn Cove 3501 S Federal Hwy 2012 456 1,302 $2.07 Manatee Bay Apartment… 1632 N Federal Hwy 2014 264 1,169 $2.05 Monteverde at Renaissance… 1625 Renaissance Comm… 2006 219 1,153 $2.00 Latitude Pointe 9873 Lawrence Rd 1989 280 1,061 $1.96 The Cove at Boynton Bea… 100 Newlake Dr 1996 548 1,202 $1.87 Gateway Club 3930 Max Pl 1999 319 1,228 $1.84 Quantum Lake Villas 2700 Quantum Lakes Dr 2002 863 1,195 $1.81 Source: Costar 597 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 15 of 24 Figure 3 highlights how apartment rents shot up starting in mid-2020 and then deescalated after peaking in mid-2021. Rents stopped rising by mid- 2022. As discussed below, rental rates are expected to remain flat over the next few years due to additional supplies of new units and affordability constraints. Figure 3. Growth in Effective Rents per Square Foot shwo Source: Costar The timing of new construction of apartments also affects rent levels. Figure 4 shows the volume of new construction of apartments in the relevant market area for Ocean One. Construction volume ramped up from 2015 - 2017 with annual volumes well above the 400-unit per year average. The delivery of these units kept rents rising very slowly thereafter as reflected in Figures 2 and 3. As new construction volume eased, the restraining influence of new unit deliveries was one of the factors allowing the sharp rise in rents from mid-2020 to mid-2022. Construction volume has rebounded in 2022 and 2023 with more than 600 new units per year expected. This new supply will restrain rental growth in the near term. 598 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 16 of 24 Figure 4. Past and Future Deliveries of Apartment Units Source: Costar Developers strive for rapid lease up of their projects when construction is completed. Pre-leasing efforts have resulted in strong initial occupancy levels as Figure 5 illustrates. Projects delivered last year were fully leased upon delivery. Figure 5. New Construction Occupied by Year Built Source: Costar 599 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 17 of 24 As discussed previously and shown in Table 1, FLS expects Ocean One to price its rents to be competitive in the marketplace and to foster rapid lease up. Full lease up at or soon after delivery is reasonable for a new project delivered to the market like Ocean One assuming competitive rental pricing. Ocean One projects stabilization within 7-months of delivery as of January 2027. Table 7 displays FLS’s projection for net operating income for Ocean One at stabilization in 2027. Cost and revenue figures are in 2023 dollars without adjustment for inflation or escalations. This provides the most reliable basis to estimate NOI, because the calculations are based on current known data along with contemporary estimates. At stabilization, Ocean One is projected to generate $14.9 million in potential rent from its apartment units, retail space, parking, and other ancillary sources. Vacancy is projected at 3% and bad debt at 1% of gross revenue. This results in estimated effective gross rent of $1 4.3 million at stabilization. 600 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 18 of 24 Table 7. Calculation of Net Operating Income for Ocean One Category $ Stabilization Potential Rent $14,876,976 Less Vacancy $446,309 Less Bad Debt $133,893 ========== Effective Gross Revenue Other Income Total Revenues $14,296,774 $571,871 $14,868,645 Operating Expenses $2,676,356 Real Estate Taxes $3,371,328 Management Fees $446,059 ========== Total Expenses $6,439,774 ========== NOI $8,428,902 Source: FLS Operating expenses of $2.7 million are based on an industry standard expense ratio of 18% of effective gross revenue. Real estate taxes of $3.4 million were estimated based on the $177 million taxable values of Ocean One, the assessment ratio in Palm Beach County for commercial properties as per Florida law (allowing for cost of sale and other constitutionally required allowances), and current millage rates. Management fees of 3% of effective gross income are standard in the industry. Total expenses of $6.4 million represent 45% of total revenues. This overall expense ratio is consistent with industry norms.6 Furthermore, it is also comparable to the recent sale of 500 Ocean, a nearby comparable community to Ocean One, which closed in June of 2021 as reported by Costar. On this basis, Ocean One is projected to achieve a stabilized NOI of $8 million. It is this amount that is used to estimate the market value of Ocean One at stabilization using the Cap Rate methodology from the income approach to value. 6 Camden Property Trust Form 10K for December 2020, page 25. 601 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 19 of 24 Determining the Cap Rate As discussed above, the Cap Rate is the ratio of NOI to sales price for income producing properties like Ocean One. Cap Rates are determined in the marketplace. There are many representative sales of apartment projects in the relevant market area. Figure 6 shows the Cap Rates for Palm Beach County and for the U.S. from 2003 through 2022 with projections to 2027. Since 2009 Cap Rates for apartment projects have declined precipitously and are running in the 5% range for the U.S. and at about 4.25% in Palm Beach County. Figure 6. Market Cap Rates Source: Costar Costar projects no material changes to the Cap Rates for apartments in the U.S. or in Palm Beach through 2027. These metrics are applicable to the relevant market in Boynton Beach. The recent sale of 500 Ocean in 2021 confirms this with its Cap Rate of 4.3% reported by Costar. Stabilized Value of Ocean One FLS estimated the value of Ocean One at stabilization using the income approach to value employing the Cap Rate method. FLS valued Ocean One on a fair market basis as a going concern. With a projected NOI at stabilization of $8.429 million and the Cap Rate of 4.50 %, Ocean One has a value at stabilization of $187.309 million. Since stabilization is projected in 2027, the present value of Ocean One is $174.258 million. 602 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 20 of 24 5.3 Financial Analysis and Quantification of the Financial Gap Table 8 shows the calculations for the financial gap analysis. As noted above, Ocean One has stabilized present value of $174.258 million. Without financial support, the profit from development is $4.209 million which is a rate of return of just 2.42%. A 2.42% rate of return is far below market rates and would not justify the development of Ocean One. The market rate of return can be readily determined from the Cap Rate. The profit margin, or more precisely the required market rate of return, is equal to the Cap Rate plus the long-term average expected growth rate in NOI.7 Over time, it is reasonable to project that Ocean One would achieve a long-term 3.0% compound rate of increase in NOI on average. Therefore, the market rate of return is 7.50% (4.50% Cap Rate + 3.0% expected growth rate of NOI). Table 8. Financial Gap Analysis Category Project without TIF Project with TIF Acquisition Costs $12,550,000 $12,550,000 Development Cost $157,499,589 $157,499,589 ============ ============ Total Cost $170,049,589 $170,049,589 Stabilized NOI $8,428,902 $8,428,902 Capitalization Rate 4.50% 4.50% ============ ============ Stabilized Value $187,308,924 $187,308,924 Present Value Stabilized $174,258,392 $174,258,392 Present Value of TIF $0 $7,966,289 ============ ============ Profit $4,208,803 $12,175091 Rate of Return 2.42% 6.99% Rate of Cost 2.48% 7.16% Annual TIF Amount $0 $1,150,000 TIF Term Years 0 10 Source: FLS 7 Fishman, Op. Cit. 603 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 21 of 24 To close this financial gap and to reach the market rate of return of 6.99%, Ocean One will need tax increment funding (“TIF”) of $1,150,000 per year for 10-years once it is stabilized and producing its full increment of tax revenue to the CRA as discussed previously in Section 4. TIF support at this level represents approximately 75% of the incremental ad valorem tax revenue generated by Ocean One for the BBCRA. 6.0 Conclusions and Request for TIF Support 6.1 Summary of Results The development of Ocean One will make substantial contributions to the economy of Boynton Beach, augment the supply of workforce housing, provide a positive fiscal impact on the City’s budget, and generate over $1.5 million per year in revenue to the BBCRA. 6.2 Request for TIF Support Sharply escalating development costs coupled with the recent jump in interest rates has compromised the financial feasibility of Ocean One. To close the financial gap, Ocean One requests that the BBCRA contribute about 75% of the incremental revenue generated by Ocean One totaling $1.5 million per year for ten years following project completion and stabilization. 604 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 22 of 24 Exhibit #1 Fiscal Impact Analysis Provided under separate cover. 605 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 23 of 24 Exhibit #2 Avion Riverwalk Apartments Market Survey by Costar Provided under separate. 606 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 24 of 24 Exhibit #3 Boynton/Lantana Retail Submarket Market Survey by Costar Provided under separate. 607 FISCAL IMPACT ANALYSIS OCEAN ONE APARTMENT PROJECT BOYNTON BEACH, FL. EXHIBIT 1 August 23, 2023 Prepared for Mr. Jordan Thaler, Acquisitions BB1 Development LLC 888 Biscayne Boulevard, Suite 101 Miami, Florida 33132 2 Fishkind Litigation Services, Inc. 3504 Lake Lynda Drive, Suite 107 Orlando, Florida 32817 407-382-3256 WWW.Fishkindls.com 608 ` Page 2 of 15 ______________________________________________________________________ Fiscal Impact Analysis Ocean One Apartment Project ______________________________________________________________________ 1.0 Introduction and Summary of Results 1.1 Background BB1 Development LLC is planning the development of 371 units of market rate, rental apartments and 25,588 square feet of neighborhood retail space on property that is in City of Boynton Beach, FL, (the “Project”). 1.2 Assignment BB1 Development LLC retained Fishkind Litigation Services, Inc. (“FLS”) to analyze fiscal impact (the cost and revenue effects) of the proposed change on the City of Boynton Beach This report focuses on the fiscal impacts of the proposed change on the City. 1.3 Summary of Results The development of Ocean One Apartments will have very significant, positive, fiscal impacts on the City as shown in Table 1. This analysis is based on the projected development of planned for: 371 market rental apartments and 25,588 square feet of neighborhood retail space absorption over one phase and strong property values produces an annual fiscal surplus of $716,000 after transfers to Boynton Beach CRA. As Table 2 shows, on a cumulative basis the operating surplus is $3.584 million by 2031 growing to $25.091 million by 2061. By 2061 the present value at 5% interest of the net fiscal impact is estimated at $11.738 million. 609 ` Page 3 of 15 Table 1 Summary of Fiscal Impacts Ocean One Mixed Use Project Net Fiscal Impacts for Selected Years Year Assessed Values Ad Valorem Ad Valorem Transferred to BBCRA Total Operating Revenue Total Operating Expenditure Net Fiscal Impact 2027 177,087,194 1,390,134 (1,335,666) 2,251,049 1,534,141 716,907 2031 184,418,709 1,447,687 (1,393,219) 2,251,049 1,534,141 716,907 2036 194,015,408 1,523,021 (1,468,553) 2,251,049 1,534,141 716,907 2046 214,748,175 1,685,773 (1,631,305) 2,251,049 1,534,141 716,907 2056 237,719,798 1,866,100 (1,811,632) 2,251,049 1,534,141 716,907 2061 250,120,839 1,963,449 (1,908,981) 2,251,049 1,534,141 716,907 Table 2 Summary of Fiscal Impacts Ocean One Mixed Use Project Cumulative Net Fiscal Impacts Year Cumulative Impact Interest Rate Years Present Values 2031 $3,584,537 5.0%5 $3,103,834 2036 $7,169,075 5.0%10 $5,535,770 2046 $14,338,150 5.0%20 $8,934,252 2056 $21,507,225 5.0%30 $11,020,625 2061 $25,091,762 5.0%35 $11,738,783 610 ` Page 4 of 15 2.0 Methodology 2.1 Overview The client requested a submission of a fiscal impact report quantifying the costs and revenue impacts on the City’s budget from the proposal to construct the mixed- use project consisting of 371 apartments and 25,558 of retail space on the +/- 3.7 acres located at 114/222 N. Federal Highway. The fiscal impact study is a set of statistical data and information based on new development in a jurisdiction. Its purpose is to legally justify to the City of Boynton Beach the ability to provide capital improvement, mill levy increases, as well as impact fees. The Fiscal Impact Analysis encompasses multiple methods to demonstrate that a development will pay the full costs of all public facilities and services that are required to support the development. The client has requested a study as backing or support for any amendment or change to their subdivision regulations. Fiscal impact analysis seeks to connect planning and local economics by estimating the public costs and revenues that result from change in the land use. This type of analysis is required to meet the full costs of all public facilities and services that are required to support the development and that are required to meet the level of services standards adopted by the City of Boynton Beach. To accomplish consistency in the analysis FLS complies with the guide standards prepared for Sarasota County by AECOM in support of permitting for the Project. Our analysis is conducted according to the 2015 report by AECOM. AECOM outlines several methodologies to conduct the fiscal impact analysis including the per capita approach.1 AECOM notes that the per capita methodology the most used type of analysis. The per capita approach estimates the cost of providing services on a per unit basis. The unit varies depending upon how the services are used and can include: per person, per employee, and per visitor. Similarly, most City and City revenues are appropriately estimated on a per capita basis again depending upon the revenues generated. FLS uses all these factors depending upon the expenditure or revenue category involved. For example, law enforcement and public safety are provided to all residents, visitors, and employees. FLS measures residents, visitors, and employees on a full-time equivalent (“FTE”) basis. However, not all expenditures or all revenues are generated by residents, visitors, and employees. State revenue sharing funds are provided through a population-based formula, so for this revenue item FLS only uses population. FLS’s application of the per capita method for both revenues and expenditures is consistent with AECOM. 1 AECOM (2015), page 2. 611 ` Page 5 of 15 FLS uses all categories of revenue and expenditures included in the City of Boynton Beach budget (but not all fund types as discussed above). The FY2021 actual reported to the State includes 54 revenue line items and 62 expenditure categories. Not all revenues and expenditures relate to the fund types included in our analysis. As discussed above, except for ad valorem tax revenues, each category of revenue and expenditure is included and analyzed using the modified per capita approach. It is impractical to discuss each category. However, FLS has included our fiscal impact analysis model in excel with this report to provide a full and detailed submission of our calculations. Ad valorem revenues are calculated directly based on the development program, product valuation, and do not include any estimates for homestead exemptions. All other revenues are estimated via the per capita, unit, approach with the unit varying as required. Capital impacts are measured by the formulae for impact fees. The city of Boynton Beach does have city parks and recreation facilities impact fees. In addition, the Project pays impact fees to Palm Beach County. 2.2 Operating Revenues Except for ad valorem revenues, which are discussed in more detail below, operating revenues were calculated using the modified per capita method based on the City’s actual for FY2021 as reported to the State of Florida, Division of Banking. Consistent with the AECOM parameters, FLS included the following fund types: (a) general fund; (b) special revenue fund; (c) debt service fund; (d) permanent fund; (e) internal service; (f) pension; and (g) component. FLS excluded the following fund types: (a) debt service; (b) capital projects; and (c) enterprise. The debt service fund relates to prior commitments and is not directly impacted by future growth or the Project. While the Project will contribute to this fund, the impact is relatively small. The impact of the Project on capital funds is calculated separately, so this fund is excluded to avoid double counting. The e nterprise fund is also excluded because enterprise funds are designed to be self-funding. Ad valorem taxes generated by the Project are a function of: (a) the development program for the Project; (b) its projected valuation and absorption; and (c) the City’s adopted millage rates for general revenue totaling 7.85 mills Concerning timing, FLS takes a stricter and more conservative approach then AECOM. FLS recognizes that there is a 4-year lag between the time apartment units are permitted and consuming services, and the time that property is included in the tax roll and paying ad valorem taxes. 612 ` Page 6 of 15 2.3 Operating Expenses Operating expenses are correctly calculated by fund type using the m odified per capita approach. As noted above, the per capita units are carefully tailored to the type of expenditure. We have included impacts from residents and employees measured on an FTE basis and included FTE visitors who also consume these services. 2.5 Capital Revenues / Expenditures As noted previously, Boynton Beach has city parks and recreation facilities impact fee. Impact fees requirement for the Project. All other impact fees are paid to Palm Beach County. The Developer has agreed to provide (a) 90 public parking spaces at an estimated value of $55,500/space for a total of $4.995 million, and (b) $1 million in extraordinary public infrastructure. 3.0 Development Program The fiscal impact analysis is based exclusively on the projected development of Ocean One apartments and retail space. The development program, absorption, is provided in detail in Table.4. As per Table 3 the Project is absorbed in one phase having a property value of more than of $ 170 million . Table 3 Ocean One Mixed Use Project Property Valuation Category Building Type Target Audience Units Average Average Property Multi Family Apartment 8 Stories Market Rate Rental 371 439,718$ 163,135,458$ Category Building Type Target Audience Square Feet Average Property Value Per SF Average Property Value Per Category Commercial/Retail Neighborhood Retail Local Market 25,588 270$ 6,914,131.49 Total 170,049,589$ 613 ` Page 7 of 15 4.0 Fiscal Impact – Operating Revenues and Expenses – Tables 5,6,7,8, and 9 Using the methodology described in Section 2, the fiscal impacts of Ocean One on the City’s operating budget are summarized below in Table 5. The Project produces a fiscal surplus in the amount of $716,907 net of transfers to Boynton Beach CRA, when its value is included in the City’s taxable value base determined by the property appraiser. By 2036 at 10 years the net fiscal impact cumulative total of nearly $7,169,075 The strong growth in net fiscal surpluses is driven by the gains in total taxable values. Table 6 displays the growth in taxable value generated by the Project. Taxable value rises from almost $177 million in 2027 to more than $250 million by 2061. Table 4 Ocean One Development Scenario Real Estate on Tax Roll 2024 2025 2026 2027 2028 Total Multi Family-371 Unit - - - 371 - 371 Commercial/Retail-23,853 SF - - - 25,588 - 25,588 Permits for Construction 2024 2025 2026 2027 2028 Total Multi Family-371 Unit 371 - - - - 371 Commercial/Retail-23,853 SF 25,588 - - - - 25,588 Table 5 Ocean One Mixed Use Project Fiscal Impact - Operating Revenue and Expenditures Year Assessed Value Ad Valorem Ad Valorem Transferred to BBCRA Total Operating Revenue Total Operating Expenditure Net Fiscal Impact Cumulative Net Fiscal Impact 2027 177,087,194 1,390,134 (1,335,666) 2,251,049 1,534,141 716,907 716,907 2031 184,418,709 1,447,687 (1,393,219) 2,251,049 1,534,141 716,907 3,584,537 2036 194,015,408 1,523,021 (1,468,553) 2,251,049 1,534,141 716,907 7,169,075 2046 214,748,175 1,685,773 (1,631,305) 2,251,049 1,534,141 716,907 14,338,150 2056 237,719,798 1,866,100 (1,811,632) 2,251,049 1,534,141 716,907 21,507,225 2061 250,120,839 1,963,449 (1,908,981) 2,251,049 1,534,141 716,907 25,091,762 614 ` Page 8 of 15 Table 6 Ocean One Mixed Use Project Taxable Property Values 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Residential Development Multi Family-371 Unit 170,292,010 171,994,930 173,714,880 175,452,028 177,206,549 178,978,614 180,768,400 182,576,084 184,401,845 186,245,864 Total Taxable Value -Residential 170,292,010 171,994,930 173,714,880 175,452,028 177,206,549 178,978,614 180,768,400 182,576,084 184,401,845 186,245,864 Commercial/Retail Neighborhood Retail 6,795,183 6,897,111 7,000,568 7,105,576 7,212,160 7,320,342 7,430,148 7,541,600 7,654,724 7,769,545 Total Taxable Value -Commercial /Retail 6,795,183 6,897,111 7,000,568 7,105,576 7,212,160 7,320,342 7,430,148 7,541,600 7,654,724 7,769,545 Total Taxable Value 177,087,194 178,892,041 180,715,447 182,557,605 184,418,709 186,298,956 188,198,548 190,117,684 192,056,569 194,015,408 Table 6 Ocean One Mixed Use Project Taxable Property Values 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 Residential Development Multi Family-371 Unit 188,108,322 189,989,405 191,889,299 193,808,192 195,746,274 197,703,737 199,680,774 201,677,582 203,694,358 205,731,302 Total Taxable Value -Residential 188,108,322 189,989,405 191,889,299 193,808,192 195,746,274 197,703,737 199,680,774 201,677,582 203,694,358 205,731,302 Commercial/Retail Neighborhood Retail 7,886,088 8,004,379 8,124,445 8,246,311 8,370,006 8,495,556 8,622,990 8,752,334 8,883,619 9,016,874 Total Taxable Value -Commercial /Retail 7,886,088 8,004,379 8,124,445 8,246,311 8,370,006 8,495,556 8,622,990 8,752,334 8,883,619 9,016,874 Total Taxable Value 195,994,410 197,993,784 200,013,744 202,054,504 204,116,280 206,199,293 208,303,764 210,429,917 212,577,977 214,748,175 Table 6 Ocean One Mixed Use Project Taxable Property Values 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 Residential Development Multi Family-371 Unit 207,788,615 209,866,501 211,965,166 214,084,817 216,225,666 218,387,922 220,571,802 222,777,520 225,005,295 227,255,348 Total Taxable Value -Residential 207,788,615 209,866,501 211,965,166 214,084,817 216,225,666 218,387,922 220,571,802 222,777,520 225,005,295 227,255,348 Commercial/Retail Neighborhood Retail 9,152,127 9,289,409 9,428,750 9,570,181 9,713,734 9,859,440 10,007,331 10,157,441 10,309,803 10,464,450 Total Taxable Value -Commercial /Retail 9,152,127 9,289,409 9,428,750 9,570,181 9,713,734 9,859,440 10,007,331 10,157,441 10,309,803 10,464,450 Total Taxable Value 216,940,741 219,155,909 221,393,916 223,654,999 225,939,399 228,247,362 230,579,133 232,934,961 235,315,098 237,719,798 615 ` Page 9 of 15 Table 7 shown below, presents the key assumptions employed in calculating the taxable values shown previously. Our assumptions related to the assessment ratio and percentage of homes expected to take advantage of the homestead exemption are more conservative than those of AECOM making our analysis more conservative than if we had adopted the AECOM assumptions for these parameters. Using data from Census On-the-Map we determined that there were 28,755 City residents who also work in the city. Since we also included all employees, FLS weighted resident-employees by 0.7626 to avoid double counting. Non-working residents are weighed at 1.0 FTE. Seasonal residents are at 0.34 62 reflecting seasonal demands on City services. Persons per household and total households are from Florida Population Studies. Table 7 Ocean One Mixed Use Project Fiscal Impact Assumptions Taxable Assessment Millage Gerneral Revenue 7.8500 Mills Total 7.8500 Mills Population Equivalent Full-Time Amount Factor Equivalent Population-Working Residents 28,755 76.26%21,927 Population-Non-Working Residents 52,993 100.00%52,993 Population- Seasonal 7,914 34.62%2,739 Total Population (peak season)89,662 77,660 Population (total)81,748 Employment (total)28,851 98.00%28,274 Persons per Household - Single Family 2.49 Persons per Household - Multifamily 2.23 Total Households 31,683 Total Housing Units 36,220 Employment Assumptions Project Neighborhood Retail 41 (1 employee per 588 SF of Retail) Annual growth rate of Residential Property Value 1.0% Annual growth rate of Non-Residential Property Value 1.5% Property Valuation Average Value Multi Family-371 Unit $441,098 Per Unit Commercial /Retail $268 Per Square Foot 616 ` Page 10 of 15 Table 8 summarizes the results of the fiscal analysis for the City’s operating budget. Table 8 Ocean One Mixed Use Project Development Impact Summary 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Residential Units 371 371 371 371 371 371 371 371 371 371 Resident Households 198 198 198 198 198 198 198 198 198 198 Peak Population Resident Population 492 492 492 492 492 492 492 492 492 492 Seasonal Population 68 68 68 68 68 68 68 68 68 68 Employment Retail / Commercial 41 41 41 41 41 41 41 41 41 41 Total Employees 41 41 41 41 41 41 41 41 41 41 - - - - - - - - - - Full-Time Equivalent Visitors - - - - - - - - - - 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Boynton Beach Total Operating Revenues 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 Total Operating Expenditures 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 Net Fiscal Impact 716,907 716,907 716,907 716,907 716,907 716,907 716,907 716,907 716,907 716,907 Years 1 2 3 4 5 6 7 8 9 10 5 Years 10 Years 20 Years 30 Years 35 Years Net Present Value of Operating Impact 3,103,834 5,535,770 8,934,252 11,020,625 11,738,783 617 Page 11 of 15 Detail analysis (Table 9) is presented through 2036 which is a 10-year projection. Table 9 Ocean One Mixed Use Project Fiscal Impact Detail Operating Revenue and Expenses 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Revenues 311000 - Ad Valorem Taxes 1,390,134 1,404,303 1,418,616 1,433,077 1,447,687 1,462,447 1,477,359 1,492,424 1,507,644 1,523,021 Transfer to BBCRA (1,335,666) (1,349,835) (1,364,148) (1,378,609) (1,393,219) (1,407,979) (1,422,891) (1,437,956) (1,453,176) (1,468,553) 341200 - Internal Service Fund Fees and Charges 5,359 5,359 5,359 5,359 5,359 5,359 5,359 5,359 5,359 5,359 341900 - Other General Government Charges and Fees 6,645 6,645 6,645 6,645 6,645 6,645 6,645 6,645 6,645 6,645 342100 - Service Charge - Law Enforcement Services 29,496 29,496 29,496 29,496 29,496 29,496 29,496 29,496 29,496 29,496 342200 - Service Charge - Fire Protection 20,170 20,170 20,170 20,170 20,170 20,170 20,170 20,170 20,170 20,170 342400 - Service Charge - Emergency Management Service Fees/Charges 530 530 530 530 530 530 530 530 530 530 342500 - Service Charge - Protective Inspection Fees 685 685 685 685 685 685 685 685 685 685 343500 - Service Charge - Sewer/Wastewater Utility 1,415 1,415 1,415 1,415 1,415 1,415 1,415 1,415 1,415 1,415 343900 - Service Charge - Other Physical Environment Charges 23,820 23,820 23,820 23,820 23,820 23,820 23,820 23,820 23,820 23,820 347200 - Service Charge - Parks and Recreation 11,382 11,382 11,382 11,382 11,382 11,382 11,382 11,382 11,382 11,382 315100 - State Communications Services Taxes 13,396 13,396 13,396 13,396 13,396 13,396 13,396 13,396 13,396 13,396 316000 - Local Business Tax (Chapter 205) 969 969 969 969 969 969 969 969 969 969 331100 - Federal Grant - General Government 7,999 7,999 7,999 7,999 7,999 7,999 7,999 7,999 7,999 7,999 331200 - Federal Grant - Public Safety - - - - - - - - - - 331310 - Federal Grant - Water Supply System 8,201 8,201 8,201 8,201 8,201 8,201 8,201 8,201 8,201 8,201 331500 - Federal Grant - Economic Environment 483 483 483 483 483 483 483 483 483 483 331900 - Federal Grant - Other 22 22 22 22 22 22 22 22 22 22 334100 - State Grant - General Government 2,047 2,047 2,047 2,047 2,047 2,047 2,047 2,047 2,047 2,047 334500 - State Grant - Economic Environment 463 463 463 463 463 463 463 463 463 463 334700 - State Grant - Culture/Recreation 27,811 27,811 27,811 27,811 27,811 27,811 27,811 27,811 27,811 27,811 335125 - Municipal Revenue Sharing Program - Proceeds 506 506 506 506 506 506 506 506 506 506 335140 - State Revenue Sharing - Mobile Home Licenses 625 625 625 625 625 625 625 625 625 625 335150 - State Revenue Sharing - Alcoholic Beverage Licenses 60,422 60,422 60,422 60,422 60,422 60,422 60,422 60,422 60,422 60,422 335190 - State Revenue Sharing - Other General Government 617 617 617 617 617 617 617 617 617 617 337200 - Local Government Unit Grant - Public Safety 3,534 3,534 3,534 3,534 3,534 3,534 3,534 3,534 3,534 3,534 338000 - Shared Revenue From Other Local Units 1,555 1,555 1,555 1,555 1,555 1,555 1,555 1,555 1,555 1,555 339000 - Payments From Other Local Units In Lieu Of Taxes 5,445 5,445 5,445 5,445 5,445 5,445 5,445 5,445 5,445 5,445 354000 - Fines - Local Ordinance Violation 21,924 21,924 21,924 21,924 21,924 21,924 21,924 21,924 21,924 21,924 359000 - Other Judgments, Fines and Forfeits 63,222 63,222 63,222 63,222 63,222 63,222 63,222 63,222 63,222 63,222 361100 - Interest 714,572 714,572 714,572 714,572 714,572 714,572 714,572 714,572 714,572 714,572 361400 - Gain (Loss) on Sale of Investments 4,894 4,894 4,894 4,894 4,894 4,894 4,894 4,894 4,894 4,894 362000 - Rents and Royalties 3,661 3,661 3,661 3,661 3,661 3,661 3,661 3,661 3,661 3,661 364000 - Disposition of Fixed Assets 1,970 1,970 1,970 1,970 1,970 1,970 1,970 1,970 1,970 1,970 366000 - Contributions and Donations from Private Sources 226,276 226,276 226,276 226,276 226,276 226,276 226,276 226,276 226,276 226,276 368000 - Pension Fund Contributions 45,388 45,388 45,388 45,388 45,388 45,388 45,388 45,388 45,388 45,388 369900 - Other Miscellaneous Revenues 222,750 222,750 222,750 222,750 222,750 222,750 222,750 222,750 222,750 222,750 381000 - Inter-Fund Group Transfers In 496,943 496,943 496,943 496,943 496,943 496,943 496,943 496,943 496,943 496,943 322000 - Building Permits 34,494 34,494 34,494 34,494 34,494 34,494 34,494 34,494 34,494 34,494 323100 - Franchise Fee - Electricity 40,372 40,372 40,372 40,372 40,372 40,372 40,372 40,372 40,372 40,372 323400 - Franchise Fee - Gas 271 271 271 271 271 271 271 271 271 271 323900 - Franchise Fee - Other 1,077 1,077 1,077 1,077 1,077 1,077 1,077 1,077 1,077 1,077 325200 - Special Assessments - Charges for Public Services 62,585 62,585 62,585 62,585 62,585 62,585 62,585 62,585 62,585 62,585 329500 - Other Fees & Special Assessments 4,666 4,666 4,666 4,666 4,666 4,666 4,666 4,666 4,666 4,666 Total Revenues 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 2,251,049 618 Page 12 of 15 Table 9 Ocean One Mixed Use Project Fiscal Impact Detail Operating Revenue and Expenses 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Expenditures 571.10 - Libraries - Personnel Services 19,496 19,496 19,496 19,496 19,496 19,496 19,496 19,496 19,496 19,496 571.30 - Libraries - Operating Expenses 5,099 5,099 5,099 5,099 5,099 5,099 5,099 5,099 5,099 5,099 571.60 - Libraries - Capital Outlay 1,160 1,160 1,160 1,160 1,160 1,160 1,160 1,160 1,160 1,160 572.10 - Parks/Recreation - Personnel Services 39,337 39,337 39,337 39,337 39,337 39,337 39,337 39,337 39,337 39,337 572.30 - Parks/Recreation - Operating Expenses 28,338 28,338 28,338 28,338 28,338 28,338 28,338 28,338 28,338 28,338 572.60 - Parks/Recreation - Capital Outlay 323 323 323 323 323 323 323 323 323 323 579.10 - Other Culture/Recreation - Personnel Services 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 579.30 - Other Culture/Recreation - Operating Expenses 1,135 1,135 1,135 1,135 1,135 1,135 1,135 1,135 1,135 1,135 579.60 - Other Culture/Recreation - Capital Outlay 574 574 574 574 574 574 574 574 574 574 554.10 - Housing and Urban Development - Personnel Services 2,376 2,376 2,376 2,376 2,376 2,376 2,376 2,376 2,376 2,376 554.30 - Housing and Urban Development - Operating Expenses 468 468 468 468 468 468 468 468 468 468 559.10 - Other Economic Development - Personnel Services 2,796 2,796 2,796 2,796 2,796 2,796 2,796 2,796 2,796 2,796 559.30 - Other Economic Development - Operating Expenses 11,514 11,514 11,514 11,514 11,514 11,514 11,514 11,514 11,514 11,514 511.10 - Legislative - Personnel Services 1,945.80 1,945.80 1,945.80 1,945.80 1,945.80 1,945.80 1,945.80 1,945.80 1,945.80 1,945.80 511.30 - Legislative - Operating Expenses 784 784 784 784 784 784 784 784 784 784 512.10 - Executive - Personnel Services 14,785 14,785 14,785 14,785 14,785 14,785 14,785 14,785 14,785 14,785 512.30 - Executive - Operating Expenses 30,477 30,477 30,477 30,477 30,477 30,477 30,477 30,477 30,477 30,477 512.60 - Executive - Capital Outlay 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 1,520 512.90 - Executive - Other Uses 36,979 36,979 36,979 36,979 36,979 36,979 36,979 36,979 36,979 36,979 513.10 - Financial and Administrative - Personnel Services 35,458 35,458 35,458 35,458 35,458 35,458 35,458 35,458 35,458 35,458 513.30 - Financial and Administrative - Operating Expenses 36,764 36,764 36,764 36,764 36,764 36,764 36,764 36,764 36,764 36,764 513.60 - Financial and Administrative - Capital Outlay 248 248 248 248 248 248 248 248 248 248 514.10 - Legal Counsel - Personnel Services 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,238 1,238 514.30 - Legal Counsel - Operating Expenses 4,520 4,520 4,520 4,520 4,520 4,520 4,520 4,520 4,520 4,520 515.10 - Comprehensive Planning - Personnel Services 6,495 6,495 6,495 6,495 6,495 6,495 6,495 6,495 6,495 6,495 515.30 - Comprehensive Planning - Operating Expenses 624 624 624 624 624 624 624 624 624 624 518.30 - Pension Benefits - Operating Expenses 236,245 236,245 236,245 236,245 236,245 236,245 236,245 236,245 236,245 236,245 519.10 - Other General Government - Personnel Services 27,214 27,214 27,214 27,214 27,214 27,214 27,214 27,214 27,214 27,214 539.10 - Other Physical Environment - Personnel Services 847 847 847 847 847 847 847 847 847 847 521.60 - Law Enforcement - Capital Outlay 1,579 1,579 1,579 1,579 1,579 1,579 1,579 1,579 1,579 1,579 522.10 - Fire Control - Personnel Services 225,458 225,458 225,458 225,458 225,458 225,458 225,458 225,458 225,458 225,458 522.30 - Fire Control - Operating Expenses 32,744 32,744 32,744 32,744 32,744 32,744 32,744 32,744 32,744 32,744 522.60 - Fire Control - Capital Outlay 5,228 5,228 5,228 5,228 5,228 5,228 5,228 5,228 5,228 5,228 522.90 - Fire Control - Other Uses 1,299 1,299 1,299 1,299 1,299 1,299 1,299 1,299 1,299 1,299 524.10 - Protective Inspections - Personnel Services 27,721 27,721 27,721 27,721 27,721 27,721 27,721 27,721 27,721 27,721 524.30 - Protective Inspections - Operating Expenses 7,683 7,683 7,683 7,683 7,683 7,683 7,683 7,683 7,683 7,683 541.60 - Road/Street Facilities - Capital Outlay 196 196 196 196 196 196 196 196 196 196 Total Expenditures 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 1,534,141 Net Fiscal Impact 716,907 716,907 716,907 716,907 716,907 716,907 716,907 716,907 716,907 716,907 Cumulative 716,907 1,433,815 2,150,722 2,867,630 3,584,537 4,301,445 5,018,352 5,735,260 6,452,167 7,169,075 619 Page 13 of 15 5.0 Fiscal Impact Capital Revenues and Capital Expenses – Tables 10,11 and 12 Boynton Beach does have a city parks and recreation facilities impact fee requirement for the Project. In addition, Developer has agreed to provide (a) 90 public parking spaces at an estimated value of $55,000/space for a total of $4.995 million (Table 11), and (b) $1 million in extraordinary public infrastructure (Table 12). Table 10 Ocean One Mixed Use Project Fiscal Impact - Capital Revenue 2024 2025 Total Capital Revenues City Parks and Recreation Facilities Impact fees 220,745 - 220,745 Total Capital Revenue 220,745$ -$ 220,745$ Parking Spaces Cost /Parking Space Total Public Parking Spaces 90 55,500$ 4,995,000$ Extraordinary Public Infrastructure 1,032,094 Total Developer's Contribution 6,027,094$ DEVELOPER'S CONTRIBUTION Table 11 Ocean One Developer's Contribution Mixed Use Project Parking Spaces Fiscal Impact - Capital Revenue and Expenditures Total Current Parking Garage Spaces 633.00 Additional Spaces Created 32.00 Total New Parking Garage Spaces 665.00 New Parking Spaces (Dedicated to Public)32.00 Private Retail Parking Spaces (Dedicated to Public)58.00 Total Public Parking Spaces 90.00 Total $$ Per Space Baseline Value $4,050,000 $45,000 Location Value (East of US1 near Marina)$540,000 $6,000 Loss of Value for Retail $405,000 $4,500 Total $4,995,000 $55,500 620 Page 14 of 15 Table 12 Ocean One Developer's Contribution Mixed Use Project Extraordindinary Public Infrastructure Fiscal Impact - Capital Revenue and Expenditures Category Qty Unit Unit Cost Total Final Lift of Asphalt Boynton Beach Boulevard 1,500.00 SY 15.00 $22,500 Subtotal $22,500 Sidewalk Construction Category Qty Unit Unit Cost Total 5 Ft. Concrete Sidewalk (4 in.)2,200.00 LF 15.00 $33,000 Subtotal $33,000 Drainage Construction Category Qty Unit Unit Cost Total Stormwater System Inspection with Diver 1.00 LS 6,500.00 $6,500 Increasing Stormwater Capacity (20% Additional Volume)1.00 LS 25,000.00 $25,000 Subtotal $31,500 Utility Relocation Category Qty Unit Unit Cost Total 12" Water Main Extension 1,200.00 LF 115.00 $138,000 6'' Fire line 350 LF 57 $19,950 20" Sanitary Force Main Upgrade 660.00 LS 485.00 $320,100 Fire Hydrant 5.00 LF 7,140.00 $35,700 4" Gas Main Relocation 1.00 LS 19,350.00 $19,350 Subtotal $533,100 Landscape Construction Category Qty Unit Unit Cost Total Landscape & Irrigation 3,000.00 SF $20 $60,000 Street Frontage - Lights 25 EA $5,805 $145,125 Subtotal $205,125 Mobilization (5%)$41,261 MOT (4%)$33,009 Clearing and Grubbing (2%)$16,505 Testing, Surveying and Miscellaneous (1.5%)$12,378 Pavement Marking and Signage (2.5% of Roadway)$563 Design Fees and Permitting (2.5% - Excluding FPL)$20,631 Contingency (10%)$82,523 Subtotal $206,869 Total Public Infrastructure $1,032,094 621 Page 15 of 15 IMPORTANT NOTICE CONCERNING “FISCAL IMPACT ANALYSIS REPORT” 1. Fiscal Impact Analysis Report (“FIAR”) Certain portions of the FIAR have various sections of the analysis that contain forecasted financial performance based upon several current and projected market conditions. These conditions are subject to numerous risks and uncertainties that cannot be determined at this time. Each section of the FIAR contains forecasted data. While presented with numerical specificity, projected information of the type furnished above is based on estimates and assumptions that are inherently subj ect to significant economic and competitive uncertainties and contingencies, all of which are difficult to predict and many of which are beyond the FLS's control. Accordingly, there can be no assurance that such estimates and assumptions will be accurate, and the actual results may be significantly higher or lower than those set forth. 2. Actual Results May Differ from FIAR Due to a variety of risks and uncertainties, actual results may be materially different from the results projected in the FIAR. Accordingly, the FIAR is meant only to serve as a guide and is not intended to be relied upon as to the reasonableness of the underlying facts or assumptions. This FIAR does not contain and is not to be construed as legal, business, investment, or tax advice. 3. The Fishkind Litigation Services Inc. (FLS) Has No Duty to Update FIAR The FIAR is current only as of August,2023. Following delivery of this report, FLS expectations of results may change. FLS may come to believe that the FIAR is no longer accurate. FLS shall not have any obligation to update any corrections or revisions to the FIAR contained herein, even if the FLS believes the forward-looking analysis is no longer accurate. FLS does not intend to update or otherwise revise the FIAR to reflect circumstances existing after the date when made or to reflect the occurrence of future events even if any or all the assumptions underlying the projections are shown to be in error. FLS assumes no responsibility for the accuracy or validity of the FIAR. 622 630 E Woolbright Rd PREPARED BY Hank Fishkind Underwriting Report Avion Riverwalk 319 Unit Apartment Building Boynton Beach, Florida - Outer Boynton Beach Neighborhood Exhibit 2 Exhibit 2 623 SUBJECT PROPERTY Property Details 1 RENT COMPS Map & List 5 Photo Comparison 7 Rent Comps Details 9 Unit Mix Summary 38 Ranking Chart By Bedroom 39 Changes in Rent Comps 43 Rent Trend Charts 47 RentTrend Data 53 CONSTRUCTION Overall Construction Map & Summary 55 Under Construction Map & List 56 Under Construction Details 58 Deliveries Past 12 Months Map & List 59 Delivered Property Details 61 Construction Summary 63 SALE COMPS Map & List 69 Sale Comp Details 71 Sales Volume 91 Sales Pricing 92 Cap Rates 94 Top Buyers & Sellers 95 DEMOGRAPHICS Overview 98 Age & Education 99 Ethnicity 100 MULTI-FAMILY SUBMARKET REPORT Submarket Key Statistics 102 Vacancy 104 Rent 107 Construction 109 630 E Woolbright Rd - Avion Riverwalk 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Exhibit 2 Exhibit 2 624 Sales 112 Sales Past 12 Months 114 Supply & Demand Trends 116 Vacancy & Rent 118 Sale Trends 120 Deliveries & Under Construction 122 MULTI-FAMILY MARKET REPORT Market Key Statistics 124 Vacancy 126 Rent 129 Construction 132 Under Construction Properties 133 Sales 135 Sales Past 12 Months 137 Economy 139 Market Submarkets 144 Supply & Demand Trends 146 Vacancy & Rent 148 Sale Trends 150 Deliveries & Under Construction 152 630 E Woolbright Rd - Avion Riverwalk 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Exhibit 2 Exhibit 2 625 Subject Property 630 E Woolbright Rd - Avion Riverwalk Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER American Land Ventures - Avion Riverwalk (561) 375-5500 PROPERTY - No. of Units:319 Stories:10 Avg. Unit Size:1,019 SF Year Built:May 2023 Parking:- Distance to Transit: Type:Apartments - All Rent Type:Market OWNER Isram Realty & Management Inc. 12 MONTH ABSORPTION Current:118 Units Competitor Total:146 Units Competitor Avg:9.8 Units Submarket Total:493 Units Submarket Avg:0.7 Units ASKING RENTS PER UNIT/SF $2.19 /SF $2.22 /SF $3.16 /SF Current:$3,167 $3.10 /SF Last Quarter:$3,156 $3.09 /SF Year Ago:$3,224 Competitors:$2,464 Submarket:$2,198 VACANCY 1,449 Units 285 Units - Current:63.0%201 Units Last Quarter:65.8%210 Units Year Ago:- Competitors:6.2% Submarket:7.3% UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN Studio 1 574 1 0.3%0 0.0%$2,490 $4.34 $2,340 $4.08 6.0% 1 1 537 8 2.5%0 0.0%$2,104 $3.92 $2,104 $3.92 0.0% 1 1 657 8 2.5%0 0.0%$2,590 $3.94 $2,590 $3.94 0.0% 1 1 768 87 27.3%56 64.4%$2,425 $3.16 $2,425 $3.16 0.0% 1 1 782 36 11.3%18 50.0%$2,450 $3.13 $2,450 $3.13 0.0% 1 1 850 1 0.3%0 0.0%$2,809 $3.30 $2,809 $3.30 0.0% 1 1 856 12 3.8%2 16.7%$3,265 $3.81 $3,265 $3.81 0.0% 2 2 1,050 6 1.9%6 100%$3,325 $3.17 $3,325 $3.17 0.0% 2 2 1,104 8 2.5%6 75.0%$3,345 $3.03 $3,345 $3.03 0.0% 2 2 1,151 16 5.0%15 93.8%$3,305 $2.87 $3,305 $2.87 0.0% 2 2 1,188 20 6.3%4 20.0%$3,730 $3.14 $3,730 $3.14 0.0% 2 2 1,223 36 11.3%33 91.7%$3,530 $2.89 $3,530 $2.89 0.0% 2 2 1,250 1 0.3%1 100%$3,730 $2.98 $3,730 $2.98 0.0% 2 2 1,263 9 2.8%7 77.8%$3,915 $3.10 $3,915 $3.10 0.0% 2 2 1,265 15 4.7%5 33.3%$3,910 $3.09 $3,910 $3.09 0.0% 2 2 1,288 15 4.7%10 66.7%$3,565 $2.77 $3,565 $2.77 0.0% 2 2 1,294 15 4.7%4 26.7%$4,240 $3.28 $4,240 $3.28 0.0% 2 2 1,400 1 0.3%0 0.0%$4,485 $3.20 $4,485 $3.20 0.0% 2 2 1,484 8 2.5%3 37.5%$4,145 $2.79 $4,145 $2.79 0.0% 3 3 1,513 16 5.0%2 12.5%$4,710 $3.11 $4,710 $3.11 0.0% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 2 Exhibit 2 Exhibit 2 626 Subject Property Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All Studios 574 1 0.3%0 0.0%$2,490 $4.34 $2,340 $4.08 6.0% All 1 Beds 761 152 47.6%76 50.0%$2,492 $3.27 $2,492 $3.27 0.0% All 2 Beds 1,233 150 47.0%94 62.7%$3,691 $2.99 $3,691 $2.99 0.0% All 3 Beds 1,513 16 5.0%2 12.5%$4,710 $3.11 $4,710 $3.11 0.0% Totals 1,020 319 100%172 53.9%$3,167 $3.10 $3,166 $3.10 0.0% Updated July 31, 2023Estimate SITE AMENITIES Cabana Fitness Center Grill Lounge Package Service Pet Play Area Pet Washing Station Pool Roof Terrace Sauna Storage Space Sundeck UNIT AMENITIES Air Conditioning Ceiling Fans Granite Countertops Island Kitchen Oven Walk-In Closets Washer/Dryer Wi-Fi RECURRING EXPENSES Unassigned Garage Parking $0-100 Storage Fee $95 ONE TIME EXPENSES Dog Fee $350 Cat Fee $350 Admin Fee $250 Application Fee $75 PET POLICY Dog Allowed One-Time Fee: $350-350, 2 Maximum Restrictions: NON-Refundable Pet Fees - $ 350 for 1 pet and $ 450 for 2 pets. Breed Restrictions Apply. No Aggressive Breeds Allowed. Pit Bulls Are Not Permitted. Cat Allowed One-Time Fee: $350-350, 2 Maximum Restrictions: NON-Refundable Pet Fees - $ 350 for 1 pet and $ 450 for 2 pets. Breed Restrictions Apply. No Aggressive Breeds Allowed. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 3 Exhibit 2 Exhibit 2 627 Subject Property InteriorPrimary InteriorInterior 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 4 Exhibit 2 Exhibit 2 628 630 E Woolbright Rd PREPARED BY Hank Fishkind Rent Comparables Avion Riverwalk 319 Unit Apartment Building Boynton Beach, Florida - Outer Boynton Beach Neighborhood Exhibit 2 Exhibit 2 629 Rent Comparables Summary 630 E Woolbright Rd - Avion Riverwalk 17 $2,464 $2.22 6.2% No. Rent Comps Avg. Rent Per Unit Avg. Rent Per SF Avg. Vacancy Rate RENT COMP LOCATIONS RENT COMPS SUMMARY STATISTICS Unit Breakdown Low Average Median High Total Units Studio Units One Bedroom Units Two Bedroom Units Three Bedroom Units 124 0 36 0 0 294 3 106 135 50 280 0 85 118 48 548 26 200 296 112 Property Attributes Low Average Median High 1989Year Built Number of Floors Average Unit Size SF Vacancy Rate Star Rating 2 691 0.1% 2009 3 1,104 6.2% 2012 3 1,089 6.2% 2023 5 1,355 15.4% 3.8 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 6 Exhibit 2 Exhibit 2 630 Rent Comparables Summary 630 E Woolbright Rd - Avion Riverwalk Property Name/Address Rating Yr Built Units Avg Unit SF Studio 1 Bed 2 Bed 3 Bed Rent/SF Property Size Asking Rent Per Month Per Unit -Avion Riverwalk 319 1,020 $2,490 $2,492 $3,691 $4,710 $3.10630 E Woolbright Rd 2023 -Aura Delray Beach 292 964 $2,335 $2,560 $3,268 $3,565 $3.002095 W Atlantic Ave 1 2023 -Pacifica 324 973 -$2,181 $2,742 $3,041 $2.571100 Audace Ave 2 2019 -Congress Grove 369 936 $1,972 $2,092 $2,690 $3,344 $2.55250 Congress Park Dr 3 2013 -Seabourn Cove 456 1,302 -$2,587 $3,290 $3,831 $2.423501 S Federal Hwy 4 2012 -The Atlantic at East Delray 228 1,079 -$2,068 $2,719 $3,075 $2.41650 Lavers Cir 5 1996 -Windsor at Delray Beach 188 1,089 -$2,191 $2,810 $3,092 $2.392001 N Federal Hwy 6 2016 -Luma Delray 212 192 -$2,350 $3,033 $3,425 $2.397606 Atlantic Ave 7 2022 -Blu Atlantic 171 1,062 -$1,989 $2,376 $2,949 $2.275550 Nepsa Way 8 2013 -Oasis Delray Beach Apart…324 1,133 -$2,124 $2,546 $3,126 $2.255600 W Atlantic Ave 9 1998 -One Boynton 494 1,152 -$2,072 $2,775 $3,301 $2.241351 S Federal Hwy 10 2009 -High Ridge Landing 184 1,049 -$1,980 $2,252 $2,860 $2.153609 High Ridge Way 11 2016 -Verona at Boynton Beach 216 1,097 -$1,919 $2,396 $2,639 $2.081575 SW 8th St 12 2002 -Cortland West Boynton 264 1,143 -$1,922 $2,431 $2,651 $2.057933 Venture Center Way 13 2000 -Latitude Pointe 280 1,061 -$2,020 $2,064 $2,745 $1.989873 Lawrence Rd 14 1989 -The Cove at Boynton Bea…548 1,202 -$1,805 $2,129 $2,724 $1.80100 Newlake Dr 15 1996 -Gateway Club 319 1,228 -$1,780 $2,147 $2,546 $1.763930 Max Pl 16 1999 -The Heart of Boynton Bea…124 691 -$1,175 --$1.70117 NE 9th Ave 17 2023 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 7 Exhibit 2 Exhibit 2 631 Vacancy 6.2% 1100 Audace Ave 324 Units / 5 Stories Owner: Walton Street Capital, LLC Rent/SF $2.57, Pacifica2 Vacancy - 2095 W Atlantic Ave 292 Units / 5 Stories Owner: Trinsic Residential Group Rent/SF $3.00, Aura Delray Beach1 Vacancy 63.0% 630 E Woolbright Rd 319 Units / 10 Stories Owner: Isram Realty & Management… Rent/SF $3.10, Subject Property Avion Riverwalk Vacancy 8.8% 650 Lavers Cir 228 Units / 3 Stories Owner: Nuveen Rent/SF $2.41, The Atlantic at East Delray5 Vacancy 6.8% 3501 S Federal Hwy 456 Units / 3 Stories Owner: The Dermot Company Rent/SF $2.42, Seabourn Cove4 Vacancy 8.1% 250 Congress Park Dr 369 Units / 4 Stories Owner: Crow Holdings Rent/SF $2.55, Congress Grove3 Vacancy 0% 5550 Nepsa Way 171 Units / 3 Stories Owner: Brause Realty Inc.;Rohdie Gr… Rent/SF $2.27, Blu Atlantic8 Vacancy 6.1% 7606 Atlantic Ave 212 Units / 3 Stories Owner: Principal Development Group… Rent/SF $2.39, Luma Delray7 Vacancy 3.2% 2001 N Federal Hwy 188 Units / 5 Stories Owner: GID Investment Advisors LLC Rent/SF $2.39, Windsor at Delray Beach6 Rent Comparables Photo Comparison 630 E Woolbright Rd 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 8 Exhibit 2 Exhibit 2 632 Vacancy 15.2% 3609 High Ridge Way 184 Units / 3 Stories Owner: Yuksel, Inc. Rent/SF $2.15, High Ridge Landing11 Vacancy 3.0% 1351 S Federal Hwy 494 Units / 5 Stories Owner: Blackstone Inc. Rent/SF $2.24, One Boynton10 Vacancy 4.0% 5600 W Atlantic Ave 324 Units / 3 Stories Owner: Starwood Capital Group Rent/SF $2.25, Oasis Delray Beach Apartm…9 Vacancy 8.2% 9873 Lawrence Rd 280 Units / 3 Stories Owner: Klingbeil Capital Managemen… Rent/SF $1.98, Latitude Pointe14 Vacancy 1.9% 7933 Venture Center Way 264 Units / 3 Stories Owner: Blackstone Inc.;Cortland Rent/SF $2.05, Cortland West Boynton13 Vacancy 10.2% 1575 SW 8th St 216 Units / 3 Stories Owner: Waterton Rent/SF $2.08, Verona at Boynton Beach12 Vacancy - 117 NE 9th Ave 124 Units / 4 Stories Owner: - Rent/SF $1.70, The Heart of Boynton Beach17 Vacancy 4.7% 3930 Max Pl 319 Units / 2 Stories Owner: Northland Rent/SF $1.76, Gateway Club16 Vacancy 8.0% 100 Newlake Dr 548 Units / 3 Stories Owner: Starwood Capital Group Rent/SF $1.80, The Cove at Boynton Beach…15 Rent Comparables Photo Comparison 630 E Woolbright Rd 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 9 Exhibit 2 Exhibit 2 633 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 1 2095 W Atlantic Ave - Aura Delray Beach Delray Beach, Florida - Outer Delray Beach Neighborhood PROPERTY MANAGER Bozzuto - Aura Delray Beach (888) 310-2307 PROPERTY 4.23 Miles Property Size:292 Units, 5 Floors Avg. Unit Size:964 SF Year Built:Aug 2023 Type:Apartments - All Rent Type: Parking:- Distance to Subject: Distance to Transit:- Market OWNER - UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN Studio 1 651 26 8.9%--$2,335 $3.59 $2,335 $3.59 0.0% 1 1 782 62 21.2%--$2,490 $3.18 $2,490 $3.18 0.0% 1 1 822 66 22.6%--$2,625 $3.19 $2,625 $3.19 0.0% 2 2 1,111 62 21.2%--$3,240 $2.92 $3,240 $2.92 0.0% 2 2 1,168 56 19.2%--$3,300 $2.83 $3,300 $2.83 0.0% 3 2 1,374 20 6.8%--$3,565 $2.59 $3,565 $2.59 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All Studios 651 26 8.9%--$2,335 $3.59 $2,335 $3.59 0.0% All 1 Beds 803 128 43.8%--$2,560 $3.19 $2,560 $3.19 0.0% All 2 Beds 1,138 118 40.4%--$3,268 $2.87 $3,268 $2.87 0.0% All 3 Beds 1,374 20 6.8%--$3,565 $2.59 $3,565 $2.59 0.0% Totals 964 292 100%--$2,895 $3.00 $2,895 $3.00 0.0% Updated July 25, 2023Estimate SITE AMENITIES 24 Hour Access, Business Center, Cabana, Clubhouse, Fitness Center, Gameroom, Grill, Lounge, Maintenance on site, On-Site Retail, Pet Play Area, Pet Washing Station, Property Manager on Site, Tenant Controlled HVAC, Walking/Biking Trails UNIT AMENITIES Air Conditioning, Carpet, Dishwasher, Disposal, Freezer, Heating, Kitchen, Oven, Refrigerator, Stainless Steel Appliances, Tub/Shower RECURRING EXPENSES Dog Rent $25 Cat Rent $25 ONE TIME EXPENSES Dog Fee $500 Cat Fee $500 Admin Fee $350 Application Fee $125 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 10 Exhibit 2 Exhibit 2 634 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $500-500, $25/Mo, 2 Maximum Restrictions: Breed Restrictions apply. Management has sole discretion to determine whether an animal is a restricted breed and may base its decision on documentation, visual inspection, examination by a veterinarian, and other measures. Cat Allowed One-Time Fee: $500-500, $25/Mo, 2 Maximum 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 11 Exhibit 2 Exhibit 2 635 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 2 1100 Audace Ave - Pacifica Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Bozzuto - Pacifica (561) 903-0261 PROPERTY 2.59 Miles Property Size:324 Units, 5 Floors Avg. Unit Size:972 SF Year Built:Nov 2019 Type:Apartments - All Rent Type: Parking:- Distance to Subject: Distance to Transit:- Market OWNER Purchased Jul 2021 $92,675,000 ($286,034/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 750 76 23.5%8 10.5%$2,032 $2.71 $2,018 $2.69 0.7% 1 1 833 95 29.3%5 5.3%$2,300 $2.76 $2,284 $2.74 0.7% 2 2 1,088 24 7.4%3 12.5%$2,686 $2.47 $2,667 $2.45 0.7% 2 2 1,116 45 13.9%3 6.7%$2,731 $2.45 $2,712 $2.43 0.7% 2 2 1,162 24 7.4%1 4.2%$2,817 $2.42 $2,797 $2.41 0.7% 3 2 1,200 30 9.3%6 20.0%$2,907 $2.42 $2,886 $2.41 0.7% 3 2 1,293 30 9.3%1 3.3%$3,174 $2.45 $3,151 $2.44 0.7% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 796 171 52.8%13 7.6%$2,181 $2.74 $2,165 $2.72 0.7% All 2 Beds 1,121 93 28.7%7 7.5%$2,742 $2.45 $2,722 $2.43 0.7% All 3 Beds 1,247 60 18.5%7 11.7%$3,041 $2.44 $3,019 $2.42 0.7% Totals 973 324 100%27 8.3%$2,501 $2.57 $2,483 $2.55 0.7% Updated August 01, 2023Estimate SITE AMENITIES Conference Rooms, Fitness Center, Gameroom, Grill, Lounge, Pool, Spa UNIT AMENITIES Balcony, Patio, Stainless Steel Appliances, Walk-In Closets, Washer/Dryer RECURRING EXPENSES Dog Rent $15 Cat Rent $15 Other Rent $15 Unassigned Other Parking $50 Storage Fee $25 ONE TIME EXPENSES Dog Fee $500 Cat Fee $500 Other Fee $500 Admin Fee $250 Application Fee $105 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 12 Exhibit 2 Exhibit 2 636 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $500-500, $15/Mo, 2 Maximum Restrictions: Bozzuto Standard Aggressive Breed List Cat Allowed One-Time Fee: $500-500, $15/Mo, 2 Maximum Other Allowed One-Time Fee: $500-500, $15/Mo, 2 Maximum Restrictions: Standard Bozzuto restricted breed list. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 13 Exhibit 2 Exhibit 2 637 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 3 250 Congress Park Dr - Congress Grove Delray Beach, Florida - Outer Delray Beach Neighborhood PROPERTY MANAGER RangeWater - Congress Grove (561) 237-5956 PROPERTY 4.65 Miles Property Size:369 Units, 4 Floors Avg. Unit Size:936 SF Year Built:Jan 2013 Type:Apartments - All Rent Type: Parking:774 Spaces; 2.1 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Jun 2021 $111,750,000 ($302,846/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN Studio 1 537 17 4.6%4 23.5%$1,975 $3.68 $1,958 $3.65 0.9% Studio 1 566 1 0.3%0 0.0%$1,875 $3.31 $1,858 $3.28 0.9% Studio 1 577 2 0.5%1 50.0%$1,999 $3.46 $1,982 $3.43 0.9% 1 1 723 105 28.5%7 6.7%$1,950 $2.70 $1,933 $2.67 0.9% 1 1 725 4 1.1%0 0.0%$2,182 $3.01 $2,164 $2.98 0.8% 1 1 743 2 0.5%0 0.0%$2,270 $3.06 $2,251 $3.03 0.9% 1 1 756 15 4.1%0 0.0%$2,225 $2.94 $2,206 $2.92 0.9% 1 1 760 11 3.0%0 0.0%$2,081 $2.74 $2,063 $2.71 0.9% 1 1 863 43 11.7%4 9.3%$2,380 $2.76 $2,360 $2.73 0.9% 2 2 1,110 110 29.8%7 6.4%$2,630 $2.37 $2,608 $2.35 0.9% 2 2 1,204 8 2.2%1 12.5%$2,990 $2.48 $2,965 $2.46 0.9% 2 2 1,216 18 4.9%2 11.1%$2,975 $2.45 $2,950 $2.43 0.9% 2 2 1,222 15 4.1%3 20.0%$2,575 $2.11 $2,553 $2.09 0.9% 2 2 1,308 4 1.1%1 25.0%$2,905 $2.22 $2,880 $2.20 0.9% 3 2 1,446 14 3.8%0 0.0%$3,344 $2.31 $3,316 $2.29 0.9% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All Studios 542 20 5.4%5 25.0%$1,972 $3.64 $1,955 $3.60 0.9% All 1 Beds 762 180 48.8%11 6.1%$2,092 $2.75 $2,075 $2.72 0.9% All 2 Beds 1,143 155 42.0%14 9.0%$2,690 $2.35 $2,668 $2.33 0.9% All 3 Beds 1,446 14 3.8%0 0.0%$3,344 $2.31 $3,316 $2.29 0.9% Totals 936 369 100%30 8.1%$2,385 $2.55 $2,364 $2.53 0.9% Updated August 01, 2023Estimate SITE AMENITIES 24 Hour Access, Business Center, Clubhouse, Courtyard, Fitness Center, Grill, Lounge, Property Manager on Site, Storage Space, Wi-Fi UNIT AMENITIES Air Conditioning, Balcony, Granite Countertops, Linen Closet, Pantry, Patio, Security System, Stainless Steel Appliances, Tile Floors, Views, Walk-In Closets, Washer/Dryer 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 14 Exhibit 2 Exhibit 2 638 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk RECURRING EXPENSES Dog Rent $20 Cat Rent $20 ONE TIME EXPENSES Dog Fee $500 Cat Fee $500 Admin Fee $350 Application Fee $135 PET POLICY Dog Allowed One-Time Fee: $500-500, $20/Mo, 2 Maximum, 100 lb. Maximum Restrictions: Tosa Inu/Ken, American Bandogge, Cane Corso, Rottweiler, Doberman, Pit Bull, Bull Terrier, Staffordshire Terrier, Dogo Argentino, Boer Boel, Gull Dong, Basenji, Mastiff, Perro de Presa Canario, Fila Brasiliero, Wolf Hybrid, Caucasian Oucharka, Alaskan Malamutes, Kangal, German Shepard, Shepard, Chow, Spitz, Akita, Reptiles, Rabbits and Pot Bellied Pigs. Mixed breeds containing these bloodlines are also prohibited. At Alta Congress, we welcome your pets with open arms! $500 non-refundable pet fee for one pet, required at move in. $750 non-refundable pet fee for two pets, required at move in. Breed Restrictions Apply. Cat Allowed One-Time Fee: $500-500, $20/Mo, 2 Maximum, 50 lb. Maximum At Alta Congress, we welcome your pets with open arms! $500 non-refundable pet fee for one pet, required at move in. $750 non-refundable pet fee for two pets, required at move in. Breed Restrictions Apply. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 15 Exhibit 2 Exhibit 2 639 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 4 3501 S Federal Hwy - Seabourn Cove Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER RKW - Seabourn Cove (561) 944-7781 PROPERTY 1.30 Miles Property Size:456 Units, 3 Floors Avg. Unit Size:1,302 SF Year Built:2012 Type:Apartments - All Rent Type: Parking:425 Spaces; 0.9 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Jan 2021 $143,000,000 ($313,596/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 888 156 34.2%5 3.2%$2,587 $2.91 $2,587 $2.91 0.0% 2 2.5 1,403 70 15.4%3 4.3%$3,210 $2.29 $3,210 $2.29 0.0% 2 2.5 1,417 80 17.5%3 3.8%$3,260 $2.30 $3,260 $2.30 0.0% 2 2.5 1,501 66 14.5%6 9.1%$3,410 $2.27 $3,410 $2.27 0.0% 3 2.5 1,719 84 18.4%3 3.6%$3,831 $2.23 $3,831 $2.23 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 888 156 34.2%5 3.2%$2,587 $2.91 $2,587 $2.91 0.0% All 2 Beds 1,438 216 47.4%12 5.6%$3,290 $2.29 $3,290 $2.29 0.0% All 3 Beds 1,719 84 18.4%3 3.6%$3,831 $2.23 $3,831 $2.23 0.0% Totals 1,302 456 100%20 4.4%$3,149 $2.42 $3,149 $2.42 0.0% Updated August 01, 2023Estimate SITE AMENITIES Fitness Center, Grill, Sauna UNIT AMENITIES Air Conditioning, Ceiling Fans, Crown Molding, Granite Countertops, Heating, Kitchen, Microwave, Walk-In Closets, Washer/Dryer RECURRING EXPENSES Dog Rent $50 Cat Rent $50 Other Rent $50 Unassigned Surface Lot Parking $0-65 ONE TIME EXPENSES Dog Fee $500 Cat Fee $500 Other Fee $500 Admin Fee $350 Application Fee $150 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 16 Exhibit 2 Exhibit 2 640 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $500-500, $50/Mo, 2 Maximum, 85 lb. Maximum Restrictions: We are a pet-friendly community allowing 2 pets per unit with a combined weight limit of 85 pounds. Qualified service animals are always welcome without additional fees or rent. Veterinary documentation must be provided to include breed, weight once fully grown, and current vaccination records at the time of occupancy. Pet policies are subject to management's discretion. Please call for more information. Caged small animal Cat Allowed One-Time Fee: $500-500, $50/Mo, 2 Maximum, 85 lb. Maximum Restrictions: We are a pet-friendly community allowing 2 pets per unit with a combined weight limit of 85 pounds. Qualified service animals are always welcome without additional fees or rent. Veterinary documentation must be provided to include breed, weight once fully grown, and current vaccination records at the time of occupancy. Pet policies are subject to management's discretion. Please call for more information. Caged small animal Other Allowed One-Time Fee: $500-500, $50/Mo, 2 Maximum, 85 lb. Maximum Restrictions: We are a pet-friendly community allowing 2 pets per unit with a combined weight limit of 85 pounds. Qualified service animals are always welcome without additional fees or rent. Veterinary documentation must be provided to include breed, weight once fully grown, and current vaccination records at the time of occupancy. Pet policies are subject to management's discretion. Please call for more information. Caged small animal 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 17 Exhibit 2 Exhibit 2 641 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 5 650 Lavers Cir - The Atlantic at East Delray Delray Beach, Florida - Outer Delray Beach Neighborhood PROPERTY MANAGER ZRS - The Atlantic at East Delray (561) 220-7409 PROPERTY 5.49 Miles Property Size:228 Units, 3 Floors Avg. Unit Size:1,079 SF Year Built:1996 Type:Apartments - All Rent Type: Parking:528 Spaces; 2.3 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Aug 2017 $54,325,000 ($238,268/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 785 24 10.5%2 8.3%$2,097 $2.67 $2,097 $2.67 0.0% 1 1 795 44 19.3%3 6.8%$2,052 $2.58 $2,052 $2.58 0.0% 2 2 1,166 112 49.1%5 4.5%$2,719 $2.33 $2,719 $2.33 0.0% 3 2 1,283 24 10.5%3 12.5%$3,065 $2.39 $3,065 $2.39 0.0% 3 2 1,285 24 10.5%2 8.3%$3,085 $2.40 $3,085 $2.40 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 791 68 29.8%5 7.4%$2,068 $2.61 $2,068 $2.61 0.0% All 2 Beds 1,166 112 49.1%5 4.5%$2,719 $2.33 $2,719 $2.33 0.0% All 3 Beds 1,284 48 21.1%5 10.4%$3,075 $2.39 $3,075 $2.39 0.0% Totals 1,079 228 100%15 6.6%$2,600 $2.41 $2,600 $2.41 0.0% Updated August 01, 2023Estimate SITE AMENITIES 24 Hour Access, Business Center, Clubhouse, Fitness Center, Laundry Facilities, Maintenance on site, Playground, Property Manager on Site, Sundeck, Waterfront UNIT AMENITIES Air Conditioning, Cable Ready, Dishwasher, Disposal, Kitchen, Microwave, Tub/Shower, Walk-In Closets, Washer/Dryer, Window Coverings RECURRING EXPENSES Dog Rent $25 Cat Rent $25 Free Unassigned Surface Lot Parking ONE TIME EXPENSES Dog Fee $400 Cat Fee $400 Admin Fee $350 Application Fee $100 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 18 Exhibit 2 Exhibit 2 642 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $400-400, $25/Mo, 2 Maximum, 35 lb. Maximum Non-refundable pet fee of $400 for the first pet plus $200 for an additional pet. Excluded dog breeds include Akita, Alaskan Malamute, American Bull Dog, American Pit Bull Terrier, American or Bull Staffordshire Terrier, Bull Terrier, Chinese Shar... Cat Allowed One-Time Fee: $400-400, $25/Mo, 2 Maximum, 35 lb. Maximum Non-refundable pet fee of $400 for the first pet plus $200 for an additional pet. Excluded dog breeds include Akita, Alaskan Malamute, American Bull Dog, American Pit Bull Terrier, American or Bull Staffordshire Terrier, Bull Terrier, Chinese Shar... 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 19 Exhibit 2 Exhibit 2 643 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 6 2001 N Federal Hwy - Windsor at Delray Beach Delray Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Windsor - Windsor at Delray Beach (833) 200-1688 PROPERTY 2.05 Miles Property Size:188 Units, 5 Floors Avg. Unit Size:1,089 SF Year Built:Oct 2016 Type:Apartments - All Rent Type: Parking:225 Spaces; 1.2 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Dec 2017 $60,350,000 ($321,011/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 665 19 10.1%1 5.3%$1,868 $2.81 $1,859 $2.80 0.5% 1 1 792 36 19.1%1 2.8%$2,257 $2.85 $2,246 $2.84 0.5% 1 1 915 30 16.0%5 16.7%$2,315 $2.53 $2,304 $2.52 0.5% 2 2 1,140 6 3.2%1 16.7%$2,622 $2.30 $2,609 $2.29 0.5% 2 2 1,216 47 25.0%5 10.6%$2,810 $2.31 $2,796 $2.30 0.5% 2 2 1,360 2 1.1%0 0.0%$3,380 $2.49 $3,363 $2.47 0.5% 3 2 1,440 44 23.4%4 9.1%$3,068 $2.13 $3,053 $2.12 0.5% 3 2 1,523 2 1.1%1 50.0%$3,585 $2.35 $3,567 $2.34 0.5% 3 2 1,548 2 1.1%0 0.0%$3,130 $2.02 $3,114 $2.01 0.5% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 807 85 45.2%7 8.2%$2,191 $2.71 $2,180 $2.70 0.5% All 2 Beds 1,213 55 29.3%6 10.9%$2,810 $2.32 $2,796 $2.31 0.5% All 3 Beds 1,448 48 25.5%5 10.4%$3,092 $2.14 $3,077 $2.12 0.5% Totals 1,089 188 100%18 9.6%$2,602 $2.39 $2,589 $2.38 0.5% Updated August 01, 2023Estimate SITE AMENITIES Business Center, Clubhouse, Elevator, Fitness Center, Gated, Grill, Pet Play Area, Pool, Storage Space UNIT AMENITIES Air Conditioning, Cable Ready, Carpet, Dishwasher, Disposal, Island Kitchen, Kitchen, Microwave, Patio, Refrigerator, Stainless Steel Appliances, Views, Washer/Dryer RECURRING EXPENSES Dog Rent $30 Cat Rent $30 ONE TIME EXPENSES Dog Deposit $500 Cat Deposit $500 Application Fee $60 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 20 Exhibit 2 Exhibit 2 644 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed $500 Deposit, $30/Mo, 2 Maximum Restrictions: Windsor Communities does not accept Akitas, Alaskan Malamutes, Chows, Doberman Pinschers, German Shepherds, Mastiffs, Pit Bulls, Presa Canarios, Rottweilers, Shar Peis, Siberian Huskies, Staffordshire Terriers, Wolf Hybrids or any variation or mixes of these breeds. Pet Fee $500.00 per pet. Pet Rent $30.00 per pet. Breed Restrictions Apply. No Weight Limit. Cat Allowed $500 Deposit, $30/Mo, 2 Maximum Restrictions: Windsor Communities does not accept Akitas, Alaskan Malamutes, Chows, Doberman Pinschers, German Shepherds, Mastiffs, Pit Bulls, Presa Canarios, Rottweilers, Shar Peis, Siberian Huskies, Staffordshire Terriers, Wolf Hybrids or any variation or mixes of these breeds. Pet Fee $500.00 per pet. Pet Rent $30.00 per pet. Breed Restrictions Apply. No Weight Limit. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 21 Exhibit 2 Exhibit 2 645 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 7 7606 Atlantic Ave - Luma Delray Delray Beach, Florida - Outer Delray Beach Neighborhood PROPERTY MANAGER Asset Living - Luma Delray (561) 581-0611 PROPERTY 7.77 Miles Property Size:212 Units, 3 Floors Avg. Unit Size:1,355 SF Year Built:Apr 2022 Type:Apartments - All Rent Type: Parking:- Distance to Subject: Distance to Transit:- Market OWNER - UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 -82 38.7%1 1.2%$2,350 -$2,252 -4.2% 2 2 -73 34.4%1 1.4%$2,950 -$2,950 -0.0% 2 2 1,355 30 14.2%1 3.3%$3,235 $2.39 $3,235 $2.39 0.0% 3 2 -27 12.7%1 3.7%$3,425 -$3,425 -0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds -82 38.7%1 1.2%$2,350 -$2,252 -4.2% All 2 Beds 1,355 103 48.6%2 1.9%$3,033 $2.39 $3,033 $2.39 0.0% All 3 Beds -27 12.7%1 3.7%$3,425 -$3,425 -0.0% Totals 1,355 212 100%4 1.9%$2,819 $2.39 $2,781 $2.39 1.3% Updated July 21, 2023Estimate SITE AMENITIES Car Charging Station, Fitness Center, Pet Play Area, Pool, Zen Garden UNIT AMENITIES Balcony, Hardwood Floors, Stainless Steel Appliances, Tub/Shower, Washer/Dryer ONE TIME EXPENSES Admin Fee $350 Application Fee $100 PET POLICY Dog Allowed 2 Maximum Restrictions: Breed restrictions apply Cat Allowed 2 Maximum 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 22 Exhibit 2 Exhibit 2 646 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 8 5550 Nepsa Way - Blu Atlantic Delray Beach, Florida - Outer Delray Beach Neighborhood PROPERTY MANAGER Rohdie - Blu Atlantic (561) 498-2600 PROPERTY 5.60 Miles Property Size:171 Units, 3 Floors Avg. Unit Size:1,062 SF Year Built:2013 Type:Apartments - All Rent Type: Parking:440 Spaces; 2.6 per Unit Distance to Subject: Distance to Transit:- Market OWNER - UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 768 36 21.1%3 8.3%$1,989 $2.59 $1,984 $2.58 0.3% 2 2 1,050 45 26.3%1 2.2%$2,349 $2.24 $2,343 $2.23 0.3% 2 2 1,106 22 12.9%2 9.1%$2,399 $2.17 $2,393 $2.16 0.3% 2 2 1,110 32 18.7%0 0.0%$2,399 $2.16 $2,393 $2.16 0.3% 3 2 1,303 36 21.1%0 0.0%$2,949 $2.26 $2,941 $2.26 0.3% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 768 36 21.1%3 8.3%$1,989 $2.59 $1,984 $2.58 0.3% All 2 Beds 1,082 99 57.9%3 3.0%$2,376 $2.20 $2,370 $2.19 0.3% All 3 Beds 1,303 36 21.1%0 0.0%$2,949 $2.26 $2,941 $2.26 0.3% Totals 1,062 171 100%6 3.5%$2,415 $2.27 $2,409 $2.27 0.3% Updated July 21, 2023Estimate SITE AMENITIES Business Center, Clubhouse, Fitness Center, Laundry Facilities, Lounge, Maintenance on site, Package Service, Playground, Pool, Property Manager on Site, Storage Space, Sundeck, Waterfront UNIT AMENITIES Air Conditioning, Cable Ready, Carpet, Ceiling Fans, Dining Room, Dishwasher, Disposal, Heating, High Speed Internet Access, Kitchen, Microwave, Range, Tub/Shower, Vinyl Flooring, Walk-In Closets, Washer/Dryer, Window Coverings RECURRING EXPENSES Dog Rent $30 Cat Rent $20 Unassigned Garage Parking $200 Free Unassigned Surface Lot Parking Storage Fee $40 ONE TIME EXPENSES Dog Fee $500 Cat Fee $500 Admin Fee $299 Application Fee $99 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 23 Exhibit 2 Exhibit 2 647 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $500-500, $30/Mo, 2 Maximum Restrictions: Breed restrictions apply. Non-refundable pet fee of $500 for 1 pet or $750 for 2 pets. No Weight Limit Cat Allowed One-Time Fee: $500-500, $20/Mo, 2 Maximum Restrictions: Breed restrictions apply. Non-refundable pet fee of $500 for 1 pet or $750 for 2 pets. No Weight Limit 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 24 Exhibit 2 Exhibit 2 648 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 9 5600 W Atlantic Ave - Oasis Delray Beach Apartments Delray Beach, Florida - Outer Delray Beach Neighborhood PROPERTY MANAGER Highmark - Oasis Delray Beach Apartments (561) 638-0920 PROPERTY 6.16 Miles Property Size:324 Units, 3 Floors Avg. Unit Size:1,133 SF Year Built:1998 Type:Apartments - All Rent Type: Parking:780 Spaces; 2.4 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Jan 2016 $71,548,591 ($222,201/Unit) - Part of Portfolio UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 751 30 9.3%3 10.0%$1,962 $2.61 $1,962 $2.61 0.0% 1 1 841 59 18.2%1 1.7%$2,156 $2.56 $2,156 $2.56 0.0% 1 1 862 29 9.0%0 0.0%$2,228 $2.58 $2,228 $2.58 0.0% 2 2 1,072 45 13.9%3 6.7%$2,403 $2.24 $2,403 $2.24 0.0% 2 2 1,327 75 23.1%0 0.0%$2,631 $1.98 $2,631 $1.98 0.0% 3 2 1,298 43 13.3%0 0.0%$2,700 $2.08 $2,700 $2.08 0.0% 3 3 1,543 43 13.3%0 0.0%$3,551 $2.30 $3,551 $2.30 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 823 118 36.4%4 3.4%$2,124 $2.58 $2,124 $2.58 0.0% All 2 Beds 1,231 120 37.0%3 2.5%$2,546 $2.07 $2,546 $2.07 0.0% All 3 Beds 1,421 86 26.5%0 0.0%$3,126 $2.20 $3,126 $2.20 0.0% Totals 1,133 324 100%7 2.2%$2,546 $2.25 $2,546 $2.25 0.0% Updated August 01, 2023Estimate SITE AMENITIES Breakfast/Coffee Concierge, Business Center, Car Wash Area, Clubhouse, Controlled Access, Fitness Center, Gameroom, Gated, Grill, Package Service, Pet Play Area, Picnic Area, Property Manager on Site, Renters Insurance Program, Sauna, Spa, Volleyball Court, Walking/Biking Trails, Waterfront UNIT AMENITIES Air Conditioning, Balcony, Cable Ready, Carpet, Ceiling Fans, Dishwasher, Disposal, Granite Countertops, Hardwood Floors, Heating, High Speed Internet Access, Kitchen, Linen Closet, Microwave, Refrigerator, Smoke Free, Sprinkler System, Stainless Steel Appliances, Storage Space, Tile Floors, Views, Walk-In Closets, Washer/Dryer, Wheelchair Accessible (Rooms) RECURRING EXPENSES Free Dog Rent Free Cat Rent ONE TIME EXPENSES Admin Fee $350 Application Fee $50 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 25 Exhibit 2 Exhibit 2 649 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed 2 Maximum Restrictions: Aggressive dogs or any dog with a bite history will not be accepted. Add. $150 for 2nd pe Cat Allowed 2 Maximum Add. $150 for 2nd pet 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 26 Exhibit 2 Exhibit 2 650 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 10 1351 S Federal Hwy - One Boynton Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER RangeWater - One Boynton (844) 559-1017 PROPERTY 0.20 Miles Property Size:494 Units, 5 Floors Avg. Unit Size:1,152 SF Year Built:2009 Type:Apartments - All Rent Type: Parking:980 Spaces; 2.0 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Aug 2021 $171,000,000 ($346,154/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 789 12 2.4%4 33.3%$1,931 $2.45 $1,921 $2.44 0.5% 1 1 890 163 33.0%3 1.8%$2,105 $2.37 $2,095 $2.35 0.5% 1 1 1,032 25 5.1%0 0.0%$1,924 $1.86 $1,915 $1.86 0.5% 2 2 1,103 26 5.3%1 3.9%$2,697 $2.45 $2,684 $2.43 0.5% 2 2 1,153 19 3.8%1 5.3%$2,617 $2.27 $2,605 $2.26 0.5% 2 2 1,222 11 2.2%1 9.1%$2,713 $2.22 $2,700 $2.21 0.5% 2 2 1,227 122 24.7%6 4.9%$2,790 $2.27 $2,777 $2.26 0.5% 2 2 1,262 4 0.8%0 0.0%$2,734 $2.17 $2,721 $2.16 0.5% 2 2 1,432 8 1.6%1 12.5%$3,027 $2.11 $3,012 $2.10 0.5% 2 2 1,437 18 3.6%2 11.1%$2,923 $2.03 $2,909 $2.02 0.5% 2 2 1,479 2 0.4%0 0.0%$2,449 $1.66 $2,437 $1.65 0.5% 3 2 1,249 24 4.9%2 8.3%$2,725 $2.18 $2,712 $2.17 0.5% 3 2 1,368 22 4.5%3 13.6%$2,867 $2.10 $2,853 $2.09 0.5% 3 2 1,580 14 2.8%2 14.3%$2,979 $1.89 $2,965 $1.88 0.5% 3 2 1,870 1 0.2%1 100%$2,962 $1.58 $2,948 $1.58 0.5% 3 2 2,000 2 0.4%1 50.0%$3,985 $1.99 $3,967 $1.98 0.5% 3 2.5 2,000 19 3.8%0 0.0%$4,704 $2.35 $4,682 $2.34 0.5% 3 3 1,870 2 0.4%0 0.0%$3,420 $1.83 $3,404 $1.82 0.5% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 902 200 40.5%7 3.5%$2,072 $2.30 $2,062 $2.29 0.5% All 2 Beds 1,234 210 42.5%12 5.7%$2,775 $2.25 $2,762 $2.24 0.5% All 3 Beds 1,545 84 17.0%9 10.7%$3,301 $2.14 $3,286 $2.13 0.5% Totals 1,152 494 100%28 5.7%$2,580 $2.24 $2,568 $2.23 0.5% Updated August 01, 2023Estimate SITE AMENITIES Basketball Court, Bicycle Storage, Breakfast/Coffee Concierge, Business Center, Clubhouse, Controlled Access, Courtyard, Elevator, Fitness Center, Gated, Grill, Guest Apartment, Laundry Facilities, Maintenance on site, Media Center/Movie Theatre, Package Service, Picnic Area, Property Manager on Site, Recycling, Spa, Wi-Fi 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 27 Exhibit 2 Exhibit 2 651 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk UNIT AMENITIES Air Conditioning, Balcony, Cable Ready, Ceiling Fans, Dishwasher, Disposal, Granite Countertops, Microwave, Oven, Patio, Refrigerator, Security System, Views, Walk-In Closets, Washer/Dryer, Window Coverings RECURRING EXPENSES Dog Rent $20 Cat Rent $20 ONE TIME EXPENSES Dog Fee $500 Cat Fee $500 PET POLICY Dog Allowed One-Time Fee: $500-500, $20/Mo, 2 Maximum, 100 lb. Maximum Restrictions: Tosa Inu/Ken, American Bandogge, Cane Corso, Rottweiler, Doberman, Pit Bull, Bull Terrier, Staffordshire Terrier, Dogo Argentino, Boer Boel, Gull Dong, Basenji, Mastiff, Perro de Presa Canario, Fila Brasiliero, Wolf Hybrid, Caucasian Oucharka, Alaskan Malamutes, Kangal, German Shepard, Shepard, Chow, Spitz, Akita, Reptiles, Rabbits and Pot Bellied Pigs. Mixed breeds containing these bloodlines are also prohibited. Cat Allowed One-Time Fee: $500-500, $20/Mo, 2 Maximum, 50 lb. Maximum 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 28 Exhibit 2 Exhibit 2 652 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 11 3609 High Ridge Way - High Ridge Landing Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Yuksel Inc- High Ridge Landing (561) 899-4934 PROPERTY 3.32 Miles Property Size:184 Units, 3 Floors Avg. Unit Size:1,049 SF Year Built:Dec 2016 Type:Apartments - All Rent Type: Parking:320 Spaces; 1.7 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Sep 2022 $71,000,000 ($385,870/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 833 48 26.1%4 8.3%$1,980 $2.38 $1,960 $2.35 1.0% 2 2 1,087 71 38.6%6 8.5%$2,234 $2.06 $2,212 $2.03 1.0% 2 2 1,138 41 22.3%1 2.4%$2,284 $2.01 $2,261 $1.99 1.0% 3 2 1,219 24 13.0%3 12.5%$2,860 $2.35 $2,831 $2.32 1.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 833 48 26.1%4 8.3%$1,980 $2.38 $1,960 $2.35 1.0% All 2 Beds 1,106 112 60.9%7 6.3%$2,252 $2.04 $2,230 $2.02 1.0% All 3 Beds 1,219 24 13.0%3 12.5%$2,860 $2.35 $2,831 $2.32 1.0% Totals 1,049 184 100%14 7.6%$2,261 $2.15 $2,238 $2.13 1.0% Updated July 27, 2023Estimate SITE AMENITIES 24 Hour Access, Business Center, Car Charging Station, Fenced Lot, Fitness Center, Gated, Pond, Pool, Waterfront UNIT AMENITIES Air Conditioning, Balcony, Carpet, Ceiling Fans, Granite Countertops, Heating, Microwave, Patio, Range, Tub/Shower, Washer/Dryer, Wheelchair Accessible (Rooms) ONE TIME EXPENSES Admin Fee $400 Application Fee $85 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 29 Exhibit 2 Exhibit 2 653 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 12 1575 SW 8th St - Verona at Boynton Beach Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Waterton - Verona at Boynton Beach (561) 210-1700 PROPERTY 1.37 Miles Property Size:216 Units, 3 Floors Avg. Unit Size:1,097 SF Year Built:2002 Type:Apartments - All Rent Type: Parking:440 Spaces; 2.0 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Apr 2022 $80,000,000 ($370,370/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 822 36 16.7%5 13.9%$1,920 $2.34 $1,901 $2.31 1.0% 1 1 924 36 16.7%0 0.0%$1,918 $2.08 $1,899 $2.06 1.0% 2 2 1,116 54 25.0%3 5.6%$2,407 $2.16 $2,383 $2.14 1.0% 2 2 1,220 54 25.0%0 0.0%$2,386 $1.96 $2,362 $1.94 1.0% 3 2 1,281 18 8.3%0 0.0%$2,615 $2.04 $2,589 $2.02 1.0% 3 2 1,387 18 8.3%1 5.6%$2,664 $1.92 $2,637 $1.90 1.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 873 72 33.3%5 6.9%$1,919 $2.20 $1,900 $2.18 1.0% All 2 Beds 1,168 108 50.0%3 2.8%$2,396 $2.05 $2,372 $2.03 1.0% All 3 Beds 1,334 36 16.7%1 2.8%$2,639 $1.98 $2,613 $1.96 1.0% Totals 1,097 216 100%9 4.2%$2,278 $2.08 $2,255 $2.05 1.0% Updated August 01, 2023Estimate SITE AMENITIES Business Center, Clubhouse, Controlled Access, Fitness Center, Grill, Laundry Facilities, Maintenance on site, Picnic Area, Playground, Property Manager on Site, Putting Greens, Sundeck, Volleyball Court UNIT AMENITIES Air Conditioning, Ceiling Fans, Dishwasher, Disposal, Microwave, Walk-In Closets, Washer/Dryer, Window Coverings ONE TIME EXPENSES Admin Fee $345 Application Fee $90 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 30 Exhibit 2 Exhibit 2 654 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 13 7933 Venture Center Way - Cortland West Boynton Boynton Beach, Florida - Outer Royal Palm Beach/Wellington Neighborhood PROPERTY MANAGER Cortland - Cortland West Boynton (561) 369-2841 PROPERTY 7.03 Miles Property Size:264 Units, 3 Floors Avg. Unit Size:1,143 SF Year Built:2000 Type:Apartments - All Rent Type: Parking:378 Spaces; 1.4 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Sep 2021 $89,900,000 ($340,530/Unit) - Part of Portfolio UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 867 72 27.3%7 9.7%$1,922 $2.22 $1,915 $2.21 0.4% 2 1 1,105 24 9.1%2 8.3%$2,411 $2.18 $2,402 $2.17 0.4% 2 2 1,200 104 39.4%5 4.8%$2,436 $2.03 $2,426 $2.02 0.4% 3 2 1,374 64 24.2%10 15.6%$2,651 $1.93 $2,641 $1.92 0.4% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 867 72 27.3%7 9.7%$1,922 $2.22 $1,915 $2.21 0.4% All 2 Beds 1,182 128 48.5%7 5.5%$2,431 $2.06 $2,422 $2.05 0.4% All 3 Beds 1,374 64 24.2%10 15.6%$2,651 $1.93 $2,641 $1.92 0.4% Totals 1,143 264 100%24 9.1%$2,346 $2.05 $2,337 $2.04 0.4% Updated August 02, 2023Estimate SITE AMENITIES Business Center, Cabana, Clubhouse, Fitness Center, Grill, Laundry Facilities, Package Service, Picnic Area, Pool, Racquetball Court, Smoke Free, Walking/Biking Trails, Wi-Fi UNIT AMENITIES Air Conditioning, Balcony, Ceiling Fans, Dishwasher, Granite Countertops, Microwave, Patio, Security System, Stainless Steel Appliances, Views, Walk-In Closets, Washer/Dryer RECURRING EXPENSES Dog Rent $25 Cat Rent $25 Unassigned Garage Parking $150 ONE TIME EXPENSES Dog Fee $400 Cat Fee $400 Admin Fee $250 Application Fee $99 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 31 Exhibit 2 Exhibit 2 655 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $400-400, $25/Mo, 2 Maximum Restrictions: Certain aggressive breeds, including mixed breeds, are restricted at all Cortland communities. We do not allow the following aggressive breeds/mixes at our communities, including, but not limited to: Rottweiler, Chow, Presa Carnario, Doberman, Akita, Pit Bulls (Also known as American Staffordshire Terrier, Staffordsire Bull Terrier, or Bull Terrier). We welcome two pets per apartment home. Certain aggressive breeds, including mixed breeds, are restricted at all Cortland communities. Please call our Leasing Office for complete pet policy. Cat Allowed One-Time Fee: $400-400, $25/Mo, 2 Maximum Restrictions: Certain aggressive breeds, including mixed breeds, are restricted at all Cortland communities. We do not allow the following aggressive breeds/mixes at our communities, including, but not limited to: Rottweiler, Chow, Presa Carnario, Doberman, Akita, Pit Bulls (Also known as American Staffordshire Terrier, Staffordsire Bull Terrier, or Bull Terrier). We welcome two pets per apartment home. Certain aggressive breeds, including mixed breeds, are restricted at all Cortland communities. Please call our Leasing Office for complete pet policy. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 32 Exhibit 2 Exhibit 2 656 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 14 9873 Lawrence Rd - Latitude Pointe Boynton Beach, Florida - Bent Tree/Boynton Beach Neighborhood PROPERTY MANAGER Klingbeil - Latitude Pointe (561) 738-4766 PROPERTY 3.30 Miles Property Size:280 Units, 3 Floors Avg. Unit Size:1,060 SF Year Built:1989 Renov 2020 Type:Apartments - All Rent Type: Parking:500 Spaces; 1.8 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Feb 2019 $51,800,000 ($185,000/Unit) UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 760 58 20.7%2 3.5%$2,020 $2.66 $2,020 $2.66 0.0% 2 1 900 58 20.7%4 6.9%$1,925 $2.14 $1,925 $2.14 0.0% 2 2 1,200 144 51.4%4 2.8%$2,120 $1.77 $2,120 $1.77 0.0% 3 2 1,400 20 7.1%4 20.0%$2,745 $1.96 $2,745 $1.96 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 760 58 20.7%2 3.5%$2,020 $2.66 $2,020 $2.66 0.0% All 2 Beds 1,114 202 72.1%8 4.0%$2,064 $1.85 $2,064 $1.85 0.0% All 3 Beds 1,400 20 7.1%4 20.0%$2,745 $1.96 $2,745 $1.96 0.0% Totals 1,061 280 100%14 5.0%$2,104 $1.98 $2,104 $1.98 0.0% Updated August 02, 2023Estimate SITE AMENITIES Basketball Court, Business Center, Car Wash Area, Clubhouse, Fitness Center, Grill, Picnic Area, Playground, Property Manager on Site, Spa, Tennis Court, Volleyball Court, Waterfront, Wi-Fi UNIT AMENITIES Air Conditioning, Balcony, Cable Ready, Carpet, Dishwasher, Disposal, Eat-in Kitchen, Heating, High Speed Internet Access, Ice Maker, Refrigerator, Smoke Free, Storage Space, Tile Floors, Vaulted Ceiling, Views, Washer/Dryer, Wheelchair Accessible (Rooms) RECURRING EXPENSES Dog Rent $25 Cat Rent $25 Unassigned Garage Parking $95-0 ONE TIME EXPENSES Dog Fee $350 Cat Fee $350 Admin Fee $300 Application Fee $75 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 33 Exhibit 2 Exhibit 2 657 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed One-Time Fee: $350-350, $25/Mo, 2 Maximum Pet Fee $350 (1) Pet and $600 (2 Pets) along with $25 per month and per pet fee. Cat Allowed One-Time Fee: $350-350, $25/Mo, 2 Maximum Pet Fee $350 (1) Pet and $600 (2 Pets) along with $25 per month and per pet fee. Other Allowed Restrictions: Pets Welcome Upon Approval. Breed restrictions apply. Limit of 2 pets per home. Non-refundable pet fee is $300 for one pet and $600 for two pets. Monthly pet rent of $35 will be charged per pet. Domestic animals, indoor cats only, no exotic animals. Breed restrictions apply; no aggressive breeds, current vet records, and pet photo required prior to move-in. Pet Amenities: Bark Park Pet Waste Stations 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 34 Exhibit 2 Exhibit 2 658 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 15 100 Newlake Dr - The Cove at Boynton Beach Apartments Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Highmark - The Cove at Boynton Beach Ap… (561) 735-4388 PROPERTY 1.24 Miles Property Size:548 Units, 3 Floors Avg. Unit Size:1,201 SF Year Built:1996 Type:Apartments - All Rent Type: Parking:1650 Spaces; 3.0 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Jan 2016 $94,936,533 ($173,242/Unit) - Part of Portfolio UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 833 32 5.8%0 0.0%$1,827 $2.19 $1,811 $2.17 0.9% 1 1 865 108 19.7%3 2.8%$1,799 $2.08 $1,784 $2.06 0.9% 2 2 1,198 128 23.4%3 2.3%$2,057 $1.72 $2,040 $1.70 0.9% 2 2 1,246 120 21.9%3 2.5%$1,981 $1.59 $1,964 $1.58 0.9% 2 2 1,503 48 8.8%2 4.2%$2,694 $1.79 $2,671 $1.78 0.9% 3 2 1,361 36 6.6%2 5.6%$2,622 $1.93 $2,600 $1.91 0.9% 3 2 1,385 16 2.9%0 0.0%$2,634 $1.90 $2,612 $1.89 0.8% 3 2 1,437 36 6.6%1 2.8%$2,784 $1.94 $2,760 $1.92 0.9% 3 2 1,690 24 4.4%1 4.2%$2,848 $1.69 $2,824 $1.67 0.9% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 858 140 25.5%3 2.1%$1,805 $2.10 $1,790 $2.09 0.9% All 2 Beds 1,267 296 54.0%8 2.7%$2,129 $1.68 $2,111 $1.67 0.9% All 3 Beds 1,459 112 20.4%4 3.6%$2,724 $1.87 $2,701 $1.85 0.9% Totals 1,202 548 100%15 2.7%$2,168 $1.80 $2,150 $1.79 0.9% Updated August 01, 2023Estimate SITE AMENITIES Car Wash Area, Controlled Access, Courtyard, Fitness Center, Gated, Laundry Facilities, Package Service, Playground, Renters Insurance Program, Storage Space, Tennis Court UNIT AMENITIES Air Conditioning, Cable Ready, Carpet, Ceiling Fans, Dishwasher, Kitchen, Satellite TV, Security System, Sprinkler System, Views, Walk-In Closets, Washer/Dryer RECURRING EXPENSES Free Dog Rent Free Cat Rent Storage Fee $75 ONE TIME EXPENSES Admin Fee $350 Application Fee $50 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 35 Exhibit 2 Exhibit 2 659 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk PET POLICY Dog Allowed 2 Maximum, 80 lb. Maximum Restrictions: A maximum of 2 animals are allowed per apartment. Aggressive dogs or any dog with a bite history will not be accepted Pet deposit $250 per pet. Non-Refundable pet fee $500 and $150 additional pet. Pet rent $25 per pet. Cat Allowed 2 Maximum, 80 lb. Maximum Pet deposit $250 per pet. Non-Refundable pet fee $500 and $150 additional pet. Pet rent $25 per pet. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 36 Exhibit 2 Exhibit 2 660 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 16 3930 Max Pl - Gateway Club Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Northland - Gateway Club (561) 738-7777 PROPERTY 3.79 Miles Property Size:319 Units, 2 Floors Avg. Unit Size:1,228 SF Year Built:1999 Type:Apartments - All Rent Type: Parking:848 Spaces; 2.7 per Unit Distance to Subject: Distance to Transit:- Market OWNER Purchased Jun 2019 Not Disclosed UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 925 72 22.6%5 6.9%$1,780 $1.92 $1,780 $1.92 0.0% 2 2 1,220 100 31.3%1 1.0%$2,135 $1.75 $2,135 $1.75 0.0% 2 2 1,250 66 20.7%5 7.6%$2,165 $1.73 $2,165 $1.73 0.0% 3 2 1,450 48 15.0%4 8.3%$2,465 $1.70 $2,465 $1.70 0.0% 3 2 1,550 33 10.3%1 3.0%$2,665 $1.72 $2,665 $1.72 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 925 72 22.6%5 6.9%$1,780 $1.92 $1,780 $1.92 0.0% All 2 Beds 1,232 166 52.0%6 3.6%$2,147 $1.74 $2,147 $1.74 0.0% All 3 Beds 1,491 81 25.4%5 6.2%$2,546 $1.71 $2,546 $1.71 0.0% Totals 1,228 319 100%16 5.0%$2,166 $1.76 $2,166 $1.76 0.0% Updated August 01, 2023Estimate SITE AMENITIES Business Center, Clubhouse, Controlled Access, Fitness Center, Grill, Laundry Facilities, Maintenance on site, Package Service, Picnic Area, Playground, Property Manager on Site, Spa, Sundeck, Tennis Court, Waterfront UNIT AMENITIES Air Conditioning, Cable Ready, Carpet, Ceiling Fans, Dining Room, Dishwasher, Disposal, Heating, High Speed Internet Access, Kitchen, Microwave, Range, Security System, Tile Floors, Tub/Shower, Walk-In Closets, Washer/Dryer, Window Coverings RECURRING EXPENSES Dog Rent $25 Cat Rent $25 Unassigned Garage Parking $180-0 ONE TIME EXPENSES Dog Fee $475 Cat Fee $475 Admin Fee $360 Application Fee $100 PET POLICY Dog Allowed One-Time Fee: $475-475, $25/Mo, 3 Maximum Cat Allowed One-Time Fee: $475-475, $25/Mo, 3 Maximum Restrictions: Breed Restrictions apply 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 37 Exhibit 2 Exhibit 2 661 Rent Comparables 630 E Woolbright Rd - Avion Riverwalk 17 117 NE 9th Ave - The Heart of Boynton Beach Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER Centennial - Heart of Boynton Beach Villag… (305) 821-0330 PROPERTY 1.59 Miles Property Size:124 Units, 4 Floors Avg. Unit Size:696 SF Year Built:- Type:Apartments - All Rent Type: Parking:- Distance to Subject: Distance to Transit:- Market/Affordable OWNER - UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN 1 1 691 124 100%--$1,175 $1.70 $1,175 $1.70 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All 1 Beds 691 124 100%--$1,175 $1.70 $1,175 $1.70 0.0% Totals 691 124 100%--$1,175 $1.70 $1,175 $1.70 0.0% Updated July 05, 2023Estimate SITE AMENITIES 24 Hour Access UNIT AMENITIES Air Conditioning, Kitchen, Tub/Shower 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 38 Exhibit 2 Exhibit 2 662 Rent Comparables by Bedroom 630 E Woolbright Rd - Avion Riverwalk $2,177 $2,073 $2,568 $3,036 Studio Comps One Bed Comps Two Bed Comps Three Bed Comps Subject $2,490 Subject $2,492 Subject $3,691 Subject $4,710 1 Bedroom 2 Bedroom 3 BedroomCurrent Conditions in Rent Comps Studio Total Number of Units 46 1,810 2,293 844 Vacancy Rate 8.3%6.1%6.5%5.7% Asking Rent Per Unit $2,177 $2,073 $2,568 $3,036 Asking Rent Per SF $3.61 $2.50 $2.11 $2.10 Effective Rents Per Unit $2,170 $2,061 $2,559 $3,026 Effective Rents Per SF $3.59 $2.49 $2.11 $2.10 Concessions 0.3%0.6%0.4%0.3% Changes Past Year in Rent Comps Studio 1 Bedroom 2 Bedroom 3 Bedroom Year-Over-Year Effective Rent Growth 1.5%-0.7%0.7%0.0% Year-Over-Year Vacancy Rate Change 12 Month Absorption in Units 1.3% 0 -2.9% 59 66 -2.8%-2.9% 21 EXISTING UNITS VACANT UNITS ASKING RENT PER UNIT PER MONTH 12 MONTH ABSORPTION IN UNITS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 39 Exhibit 2 Exhibit 2 663 Studio Rent Comparables 630 E Woolbright Rd - Avion Riverwalk Property Name/Address Rating Studio Rent Per Unit YearQuarterRent/SF Change in Rent 630 E Woolbright Rd Avion Riverwalk 14.0%0.0%$4.34 $2,490 2095 W Atlantic Ave Aura Delray Beach 2.0%0.0%$3.59 $2,335 250 Congress Park Dr Congress Grove 0.8%0.0%$3.64 $1,972 $1,875 $1,999 $1,000 $1,500 $2,000 $2,500 $3,000 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 40 Exhibit 2 Exhibit 2 664 One Bedroom Rent Comparables 630 E Woolbright Rd - Avion Riverwalk Property Name/Address Rating One Bedroom Rent Per Unit YearQuarterRent/SF Change in Rent 3501 S Federal Hwy Seabourn Cove 20.3%30.2%$2.91 $2,587 2095 W Atlantic Ave Aura Delray Beach 2.0%0.0%$3.19 $2,560 $2,490 $2,625 630 E Woolbright Rd Avion Riverwalk -2.0%0.7%$3.27 $2,492 $2,104 $3,265 7606 Atlantic Ave Luma Delray 0.0%0.0%- $2,350 2001 N Federal Hwy Windsor at Delray Beach -12.4%-8.0%$2.71 $2,191 $1,868 $2,315 1100 Audace Ave Pacifica -0.9%1.3%$2.74 $2,181 $2,032 $2,300 5600 W Atlantic Ave Oasis Delray Beach Apartments -7.7%-7.7%$2.58 $2,124 $1,962 $2,228 250 Congress Park Dr Congress Grove 1.3%-5.3%$2.75 $2,092 $1,950 $2,380 1351 S Federal Hwy One Boynton -7.1%-4.1%$2.30 $2,072 $1,924 $2,105 650 Lavers Cir The Atlantic at East Delray -10.3%-2.7%$2.61 $2,068 $2,052 $2,097 9873 Lawrence Rd Latitude Pointe 8.3%10.7%$2.66 $2,020 5550 Nepsa Way Blu Atlantic -0.8%-4.3%$2.59 $1,989 3609 High Ridge Way High Ridge Landing -3.4%0.0%$2.38 $1,980 7933 Venture Center Way Cortland West Boynton -4.8%-2.5%$2.22 $1,922 1575 SW 8th St Verona at Boynton Beach 1.7%0.1%$2.20 $1,919 $1,918 $1,920 100 Newlake Dr The Cove at Boynton Beach A…-3.5%-4.6%$2.11 $1,805 $1,799 $1,827 3930 Max Pl Gateway Club -0.8%0.0%$1.92 $1,780 117 NE 9th Ave The Heart of Boynton Beach 5.6%0.0%$1.70 $1,175 $500 $1,375 $2,250 $3,125 $4,000 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 41 Exhibit 2 Exhibit 2 665 Two Bedroom Rent Comparables 630 E Woolbright Rd - Avion Riverwalk Property Name/Address Rating Two Bedroom Rent Per Unit YearQuarterRent/SF Change in Rent 630 E Woolbright Rd Avion Riverwalk -2.1%0.2%$2.99 $3,691 $3,305 $4,485 3501 S Federal Hwy Seabourn Cove 10.9%12.8%$2.29 $3,290 $3,210 $3,410 2095 W Atlantic Ave Aura Delray Beach 2.1%0.1%$2.87 $3,268 $3,240 $3,300 7606 Atlantic Ave Luma Delray 4.4%0.0%$2.39 $3,033 $2,950 $3,235 2001 N Federal Hwy Windsor at Delray Beach -6.6%-0.1%$2.32 $2,810 $2,622 $3,380 1351 S Federal Hwy One Boynton -2.6%5.7%$2.25 $2,775 $2,449 $3,027 1100 Audace Ave Pacifica 2.5%2.2%$2.45 $2,742 $2,686 $2,817 650 Lavers Cir The Atlantic at East Delray 9.1%-6.0%$2.33 $2,719 250 Congress Park Dr Congress Grove 1.9%-0.5%$2.35 $2,690 $2,575 $2,990 5600 W Atlantic Ave Oasis Delray Beach Apartments -8.3%0.9%$2.07 $2,546 $2,403 $2,631 7933 Venture Center Way Cortland West Boynton -1.5%-1.6%$2.06 $2,431 $2,411 $2,436 1575 SW 8th St Verona at Boynton Beach 5.5%2.4%$2.05 $2,396 $2,386 $2,407 5550 Nepsa Way Blu Atlantic -1.0%1.0%$2.20 $2,376 $2,349 $2,399 3609 High Ridge Way High Ridge Landing -10.2%0.0%$2.04 $2,252 $2,234 $2,284 3930 Max Pl Gateway Club -0.6%3.6%$1.74 $2,147 $2,135 $2,165 100 Newlake Dr The Cove at Boynton Beach A…-0.7%-13.3%$1.68 $2,129 $1,981 $2,694 9873 Lawrence Rd Latitude Pointe -2.4%3.0%$1.85 $2,064 $1,925 $2,120 $1,000 $2,125 $3,250 $4,375 $5,500 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 42 Exhibit 2 Exhibit 2 666 Three Bedroom Rent Comparables 630 E Woolbright Rd - Avion Riverwalk Property Name/Address Rating Three Bedroom Rent Per Unit YearQuarterRent/SF Change in Rent 630 E Woolbright Rd Avion Riverwalk 0.9%0.0%$3.11 $4,710 3501 S Federal Hwy Seabourn Cove 17.4%15.9%$2.23 $3,831 2095 W Atlantic Ave Aura Delray Beach 2.0%0.0%$2.59 $3,565 7606 Atlantic Ave Luma Delray 3.8%0.0%- $3,425 250 Congress Park Dr Congress Grove 8.8%0.0%$2.31 $3,344 1351 S Federal Hwy One Boynton 5.1%-5.5%$2.14 $3,301 $2,725 $4,704 5600 W Atlantic Ave Oasis Delray Beach Apartments 5.7%0.6%$2.20 $3,126 $2,700 $3,551 2001 N Federal Hwy Windsor at Delray Beach -16.8%-8.2%$2.14 $3,092 $3,068 $3,585 650 Lavers Cir The Atlantic at East Delray -8.9%-5.0%$2.39 $3,075 $3,065 $3,085 1100 Audace Ave Pacifica 8.3%3.3%$2.44 $3,041 $2,907 $3,174 5550 Nepsa Way Blu Atlantic 9.6%12.2%$2.26 $2,949 3609 High Ridge Way High Ridge Landing -2.6%0.0%$2.35 $2,860 9873 Lawrence Rd Latitude Pointe -1.3%0.4%$1.96 $2,745 100 Newlake Dr The Cove at Boynton Beach A…-4.9%-1.1%$1.87 $2,724 $2,622 $2,848 7933 Venture Center Way Cortland West Boynton -17.3%-10.6%$1.93 $2,651 1575 SW 8th St Verona at Boynton Beach 0.2%-1.9%$1.98 $2,639 $2,615 $2,664 3930 Max Pl Gateway Club -6.0%0.1%$1.71 $2,546 $2,465 $2,665 $1,500 $2,500 $3,500 $4,500 $5,500 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 43 Exhibit 2 Exhibit 2 667 Changes in Rent Comparables 630 E Woolbright Rd - Avion Riverwalk VACANCY CHANGES PAST QUARTER & YEAR Past QtrLast YearLast QtrNow Vacancy Levels Change Property Name - Address Rating Units Past Year ----292 -Aura Delray Beach -2095 W Atlantic Ave ----126 -The Heart of Boynton Beach -117 NE 9th Ave 63.0%--2.8%-319 65.8%Avion Riverwalk -630 E Woolbright Rd 6.1%-33.5%-0.6%39.6%212 6.7%Luma Delray -7606 Atlantic Ave 4.0%-4.7%-0.3%8.7%324 4.4%Oasis Delray Beach Apartments -5600 W Atlanti… 6.8%1.0%-0.1%5.8%456 6.9%Seabourn Cove -3501 S Federal Hwy 0.1%-1.5%0%1.6%171 0.1%Blu Atlantic -5550 Nepsa Way 8.1%1.0%0%7.1%369 8.1%Congress Grove -250 Congress Park Dr 1.9%-4.2%0%6.1%264 1.9%Cortland West Boynton -7933 Venture Center Way 15.4%11.2%0%4.2%184 15.4%High Ridge Landing -3609 High Ridge Way 3.0%-3.4%0%6.4%494 3.0%One Boynton -1351 S Federal Hwy 6.2%-0.2%0%6.4%324 6.2%Pacifica -1100 Audace Ave 8.0%-10.1%0%18.1%548 8.0%The Cove at Boynton Beach Apartments -100… 10.4%3.1%0%7.3%216 10.4%Verona at Boynton Beach -1575 SW 8th St 3.2%-0.9%0%4.1%188 3.2%Windsor at Delray Beach -2001 N Federal Hwy 8.2%-1.2%0%9.4%280 8.2%Latitude Pointe -9873 Lawrence Rd 4.7%1.5%0.8%3.2%319 3.9%Gateway Club -3930 Max Pl 8.8%3.5%2.3%5.2%228 6.5%The Atlantic at East Delray -650 Lavers Cir ASKING RENT CHANGES PAST QUARTER & YEAR - STUDIO Past QtrLast YearLast QtrNow Rents Levels Change Property Name - Address Rating Units Past Year $2,335 2.0%0%$2,28926$2,335Aura Delray Beach -2095 W Atlantic Ave $2,490 14.0%0%$2,1851$2,490Avion Riverwalk -630 E Woolbright Rd $1,972 0.7%0%$1,95820$1,972Congress Grove -250 Congress Park Dr 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 44 Exhibit 2 Exhibit 2 668 Changes in Rent Comparables 630 E Woolbright Rd - Avion Riverwalk ASKING RENT CHANGES PAST QUARTER & YEAR - ONE BEDROOM Past QtrLast YearLast QtrNow Rents Levels Change Property Name - Address Rating Units Past Year $2,191 -12.4%-7.9%$2,50185$2,380Windsor at Delray Beach -2001 N Federal Hwy $2,124 -7.7%-7.7%$2,302118$2,301Oasis Delray Beach Apartments -5600 W Atlanti… $2,092 1.3%-5.2%$2,066180$2,208Congress Grove -250 Congress Park Dr $1,805 -3.5%-4.6%$1,871140$1,892The Cove at Boynton Beach Apartments -100… $1,989 -0.7%-4.3%$2,00436$2,079Blu Atlantic -5550 Nepsa Way $2,072 -7.1%-4.1%$2,230200$2,160One Boynton -1351 S Federal Hwy $2,068 -10.3%-2.7%$2,30468$2,125The Atlantic at East Delray -650 Lavers Cir $1,922 -4.8%-2.5%$2,01872$1,972Cortland West Boynton -7933 Venture Center Way $2,560 2.0%0%$2,509128$2,560Aura Delray Beach -2095 W Atlantic Ave $1,780 -0.8%0%$1,79572$1,780Gateway Club -3930 Max Pl $1,980 -3.4%0%$2,04948$1,980High Ridge Landing -3609 High Ridge Way $2,350 0%0%$2,35082$2,350Luma Delray -7606 Atlantic Ave $1,175 5.6%0%$1,113124$1,175The Heart of Boynton Beach -117 NE 9th Ave $1,919 1.7%0.1%$1,88872$1,917Verona at Boynton Beach -1575 SW 8th St $2,492 -2.0%0.7%$2,542152$2,474Avion Riverwalk -630 E Woolbright Rd $2,181 -0.9%1.3%$2,200171$2,153Pacifica -1100 Audace Ave $2,020 8.3%10.7%$1,86558$1,825Latitude Pointe -9873 Lawrence Rd $2,587 20.3%30.2%$2,150156$1,987Seabourn Cove -3501 S Federal Hwy 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 45 Exhibit 2 Exhibit 2 669 Changes in Rent Comparables 630 E Woolbright Rd - Avion Riverwalk ASKING RENT CHANGES PAST QUARTER & YEAR - TWO BEDROOM Past QtrLast YearLast QtrNow Rents Levels Change Property Name - Address Rating Units Past Year $2,129 -0.7%-13.3%$2,145296$2,457The Cove at Boynton Beach Apartments -100… $2,719 9.1%-6.0%$2,493112$2,892The Atlantic at East Delray -650 Lavers Cir $2,431 -1.5%-1.6%$2,468128$2,472Cortland West Boynton -7933 Venture Center Way $2,690 1.9%-0.4%$2,641155$2,702Congress Grove -250 Congress Park Dr $2,810 -6.6%-0.1%$3,00855$2,814Windsor at Delray Beach -2001 N Federal Hwy $2,252 -10.2%0%$2,507112$2,252High Ridge Landing -3609 High Ridge Way $3,033 2.7%0%$2,955103$3,033Luma Delray -7606 Atlantic Ave $1,401 4.9%0%$1,3351$1,401The Heart of Boynton Beach -117 NE 9th Ave $3,268 2.1%0.1%$3,201118$3,266Aura Delray Beach -2095 W Atlantic Ave $3,691 -2.1%0.2%$3,769150$3,685Avion Riverwalk -630 E Woolbright Rd $2,546 -8.3%0.9%$2,776120$2,523Oasis Delray Beach Apartments -5600 W Atlanti… $2,376 -1.0%1.0%$2,40099$2,354Blu Atlantic -5550 Nepsa Way $2,742 2.5%2.2%$2,67493$2,681Pacifica -1100 Audace Ave $2,396 5.5%2.4%$2,272108$2,340Verona at Boynton Beach -1575 SW 8th St $2,064 -2.4%3.0%$2,116202$2,003Latitude Pointe -9873 Lawrence Rd $2,147 -0.6%3.6%$2,159166$2,072Gateway Club -3930 Max Pl $2,775 -2.6%5.7%$2,848210$2,625One Boynton -1351 S Federal Hwy $3,290 10.9%12.8%$2,966216$2,917Seabourn Cove -3501 S Federal Hwy 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 46 Exhibit 2 Exhibit 2 670 Changes in Rent Comparables 630 E Woolbright Rd - Avion Riverwalk ASKING RENT CHANGES PAST QUARTER & YEAR - THREE BEDROOM Past QtrLast YearLast QtrNow Rents Levels Change Property Name - Address Rating Units Past Year $2,651 -17.3%-10.6%$3,20764$2,966Cortland West Boynton -7933 Venture Center Way $3,092 -16.8%-8.2%$3,71648$3,368Windsor at Delray Beach -2001 N Federal Hwy $3,301 5.1%-5.5%$3,14284$3,492One Boynton -1351 S Federal Hwy $3,075 -8.9%-5.0%$3,37548$3,238The Atlantic at East Delray -650 Lavers Cir $2,639 0.2%-1.9%$2,63436$2,691Verona at Boynton Beach -1575 SW 8th St $2,724 -4.9%-1.1%$2,866112$2,754The Cove at Boynton Beach Apartments -100… $3,565 2.0%0%$3,49420$3,565Aura Delray Beach -2095 W Atlantic Ave $4,710 0.9%0%$4,66716$4,710Avion Riverwalk -630 E Woolbright Rd $3,344 8.8%0%$3,07514$3,344Congress Grove -250 Congress Park Dr $2,860 -2.6%0%$2,93524$2,860High Ridge Landing -3609 High Ridge Way $3,425 3.8%0%$3,30027$3,425Luma Delray -7606 Atlantic Ave $1,597 4.3%0%$1,5311$1,597The Heart of Boynton Beach -117 NE 9th Ave $2,546 -6.0%0.1%$2,70881$2,545Gateway Club -3930 Max Pl $2,745 -1.3%0.4%$2,78020$2,735Latitude Pointe -9873 Lawrence Rd $3,126 5.7%0.6%$2,95786$3,107Oasis Delray Beach Apartments -5600 W Atlanti… $3,041 8.3%3.3%$2,80860$2,943Pacifica -1100 Audace Ave $2,949 9.6%12.2%$2,69136$2,629Blu Atlantic -5550 Nepsa Way $3,831 17.4%15.9%$3,26484$3,305Seabourn Cove -3501 S Federal Hwy 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 47 Exhibit 2 Exhibit 2 671 Rent Trends 630 E Woolbright Rd - Avion Riverwalk PROPERTY ATTRIBUTES Avion Riverwalk Rent Comps Boynton Beach 3-5 Star Palm Beach 3-5 Star Existing Units 27,186 166,316 Building Rating Under Construction as % of Inventory 9.1%1.9%5.8% 4,577319 - 3.23.13.9 UNIT MIX Avion Riverwalk Rent Comps Boynton Beach 3-5 Star Palm Beach 3-5 Star Studio - 1 Bath 0%0%1%2% 1 Bedroom - 1 Bath 48%34%32%27% 2 Bedroom - 2 Bath 47%41%43%38% 3 Bedroom - 3 Bath 5%1%1%2% ASKING RENTS PER SF Avion Riverwalk Rent Comps Boynton Beach 3-5 Star Palm Beach 3-5 Star Studio - 1 Bath $4.34 $3.61 $4.54 $3.47 1 Bedroom - 1 Bath $3.27 $2.50 $2.45 $2.59 2 Bedroom - 2 Bath $2.99 $2.09 $2.18 $2.21 3 Bedroom - 3 Bath $3.11 $2.28 $1.65 $2.41 Concessions 0.0%0.4%0.8%0.9% AVERAGE EFFECTIVE RENT GROWTH Avion Riverwalk Rent Comps Boynton Beach 3-5 Star Palm Beach 3-5 Star Current Quarter 0.4%0.5%-0.3%0.0% 1 Year Rent Growth -1.8%0.1%-0.7%-0.6% 3 Year Rent Growth -47.7%36.3%33.5% 5 Year Rent Growth -50.2%42.4%38.7% All-Time Average -4.7%3.5%3.5% VACANCY RATE Avion Riverwalk Rent Comps Boynton Beach 3-5 Star Palm Beach 3-5 Star Current Quarter 63.0%6.2%7.8%8.7% Last Quarter 65.8%6.1%8.0%8.8% 1 Year Ago -9.1%8.7%7.8% 3 Years Ago -9.9%9.2%8.3% 5 Years Ago -6.2%9.9%8.1% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 48 Exhibit 2 Exhibit 2 672 Rent Trends 630 E Woolbright Rd - Avion Riverwalk STUDIO ASKING RENT PER SQUARE FOOT ONE BEDROOM ASKING RENT PER SQUARE FOOT 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 49 Exhibit 2 Exhibit 2 673 Rent Trends 630 E Woolbright Rd - Avion Riverwalk TWO BEDROOM ASKING RENT PER SQUARE FOOT THREE BEDROOM ASKING RENT PER SQUARE FOOT 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 50 Exhibit 2 Exhibit 2 674 Rent Trends 630 E Woolbright Rd - Avion Riverwalk OVERALL ASKING RENT PER SQUARE FOOT OVERALL EFFECTIVE RENT PER SQUARE FOOT 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 51 Exhibit 2 Exhibit 2 675 Rent Trends 630 E Woolbright Rd - Avion Riverwalk ANNUAL EFFECTIVE RENT GROWTH CONCESSIONS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 52 Exhibit 2 Exhibit 2 676 Rent Trends 630 E Woolbright Rd - Avion Riverwalk VACANCY RATES OCCUPANCY RATES 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 53 Exhibit 2 Exhibit 2 677 Rent Trends 630 E Woolbright Rd - Avion Riverwalk RENT COMPARABLES HISTORICAL DATA BY YEAR RENT COMPARABLES HISTORICAL DATA BY QUARTER PAST 3 YEARS Rental Rates Per SF Vacancy Year Units EffectiveAsking Growth Concessions Units Percent Change Absorption 2023 4,577 $2.21 -0.9%0.4%285 6.2%-0.4%(5)$2.22 2022 4,577 $2.23 1.4%0.6%305 6.7%2.1%110$2.24 2021 4,365 $2.20 32.9%0.3%200 4.6%-3.7%(45)$2.21 2020 4,365 $1.66 3.4%1.6%361 8.3%-5.5%72$1.69 2019 4,365 $1.60 8.0%0.5%600 13.8%6.8%23$1.61 2018 4,041 $1.48 3.9%2.1%283 7.0%0.3%(32)$1.52 2017 4,041 $1.43 2.7%2.1%271 6.7%-5.8%16$1.46 2016 4,041 $1.39 -0.9%1.9%507 12.5%7.9%120$1.42 2015 3,669 $1.40 6.2%0.7%171 4.7%0.2%(13)$1.41 2014 3,669 $1.32 6.1%0.8%162 4.4%-4.5%30$1.33 Rental Rates Per SF Vacancy Quarter Units EffectiveAsking Growth Concessions Units Percent Change Absorption 2023 Q3 4,577 $2.21 0.5%0.4%285 6.2%0.1%(5)$2.22 2023 Q2 4,577 $2.20 -1.3%0.5%280 6.1%-0.3%13$2.21 2023 Q1 4,577 $2.23 -0.1%0.1%294 6.4%-0.2%12$2.24 2022 Q4 4,577 $2.23 1.0%0.6%305 6.7%-2.4%110$2.24 2022 Q3 4,577 $2.21 -0.2%0.5%415 9.1%-0.4%17$2.22 2022 Q2 4,577 $2.22 0.9%0.1%432 9.4%4.2%8$2.22 2022 Q1 4,365 $2.20 -0.2%0.2%228 5.2%0.6%(28)$2.20 2021 Q4 4,365 $2.20 3.2%0.3%200 4.6%1.0%(45)$2.21 2021 Q3 4,365 $2.14 11.5%0.2%155 3.6%-0.2%7$2.14 2021 Q2 4,365 $1.92 12.3%0.5%163 3.7%-2.1%91$1.93 2021 Q1 4,365 $1.71 2.9%1.7%253 5.8%-2.5%107$1.74 2020 Q4 4,365 $1.66 10.6%1.6%361 8.3%-1.7%72$1.69 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 54 Exhibit 2 Exhibit 2 678 630 E Woolbright Rd PREPARED BY Hank Fishkind Construction Survey Avion Riverwalk 319 Unit Apartment Building Boynton Beach, Florida - Outer Boynton Beach Neighborhood Exhibit 2 Exhibit 2 679 Overall Construction Summary 630 E Woolbright Rd - Avion Riverwalk 232 414 124 0 All-Time Annual Average Delivered Past 8 Quarters Deliveries Next 8 Quarters Proposed Next 8 Quarters MAP OF 24 MONTH DELIVERIES, UNDER CONSTRUCTION, PROPOSED PAST AND FUTURE DELIVERIES 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 56 Exhibit 2 Exhibit 2 680 Under Construction Properties 630 E Woolbright Rd - Avion Riverwalk 1 124 1.4%124 Properties Units Percent of Inventory Avg. No. Units UNDER CONSTRUCTION PROPERTIES UNDER CONSTRUCTION SUMMARY STATISTICS Low Average Median High Property Size in Units 124 124 124 124 Number of Stories 4 4 4 4 Average Unit Size SF 691 691 691 691 Star Rating 3.0 Estimated Delivery Date Sep 2023 Sep 2023 Sep 2023 Sep 2023 Months to Delivery 1 1 1 1 Construction Period in Months 20 20 20 20 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 57 Exhibit 2 Exhibit 2 681 Under Construction Properties 630 E Woolbright Rd - Avion Riverwalk COMPLETIONS WITHIN NEXT 3 MONTHS Property Name/Address Rating Units Stories Start Complete Developer/Owner Jan 2022117 NE 9th Ave The Heart of Boynton Be…124 4 Sep 2023 - -1 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 58 Exhibit 2 Exhibit 2 682 Under Construction Properties 630 E Woolbright Rd - Avion Riverwalk 1 117 NE 9th Ave - The Heart of Boynton Beach Boynton Beach, Florida - Outer Boynton Beach Neighborhood CONSTRUCTION INFO Start Date:Jan 2022 Completion Date:Sep 2023 Build Time:20 Months Time to Delivery:1 Month PROPERTY Property Size:124 Units Stories:4 Average Unit Size:696 SF Rent Type:Market/Affordable SITE AMENITIES 24 Hour Access UNIT AMENITIES Air Conditioning, Kitchen, Tub/Shower 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 59 Exhibit 2 Exhibit 2 683 Deliveries Past 12 Months Summary 630 E Woolbright Rd - Avion Riverwalk 1 319 62.4%$3,167 Properties Units Vacancy Rate Avg. Asking Rent/Unit DELIVERIES IN PAST 12 MONTHS DELIVERIES PAST 12 MONTHS SUMMARY STATISTICS Unit Mix Low Average Median High Property Size in Units 319 319 319 319 Studio Units 1 1 1 1 One Bedroom Units 152 152 152 152 Two Bedroom Units 150 150 150 150 Three Bedroom Units 16 16 16 16 Property Attributes Low Average Median High Number of Stories 10 10 10 10 Average Unit Size SF 1,019 1,019 1,019 1,019 Rating 4.0 Leasing Performance Low Average Median High Vacancy Rate 62.4%62.4%62.4%62.4% Asking Rent Per Unit $3,167 $3,167 $3,167 $3,167 Effective Rent Per Unit $3,166 $3,166 $3,166 $3,166 Asking Rent Per SF $3.11 $3.11 $3.11 $3.11 Effective Rent Per SF $3.10 $3.10 $3.10 $3.10 Concessions 0.3%0.3%0.3%0.3% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 60 Exhibit 2 Exhibit 2 684 Deliveries Past 12 Months Summary 630 E Woolbright Rd - Avion Riverwalk Property Name/Address Rating Units Stories Start Complete Developer/Owner Jan 22630 E Woolbright Rd Avion Riverwalk 319 10 May 23 - Isram Realty & Management Inc. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 61 Exhibit 2 Exhibit 2 685 Deliveries Past 12 Months 630 E Woolbright Rd - Avion Riverwalk 630 E Woolbright Rd - Avion Riverwalk Boynton Beach, Florida - Outer Boynton Beach Neighborhood PROPERTY MANAGER American Land Ventures - Avion Riverwalk (561) 375-5500 PROPERTY 0.00 Miles Property Size:319 Units, 10 Floors Avg. Unit Size:1,019 SF Year Built:May 2023 Type:Apartments - All Rent Type: Parking:- Distance to Subject: Distance to Transit:- Market OWNER - UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Availability Avg Asking Rent Avg Effective Rent UNIT BREAKDOWN Studio 1 574 1 0.3%0 0.0%$2,490 $4.34 $2,340 $4.08 6.0% 1 1 537 8 2.5%0 0.0%$2,104 $3.92 $2,104 $3.92 0.0% 1 1 657 8 2.5%0 0.0%$2,590 $3.94 $2,590 $3.94 0.0% 1 1 768 87 27.3%56 64.4%$2,425 $3.16 $2,425 $3.16 0.0% 1 1 782 36 11.3%18 50.0%$2,450 $3.13 $2,450 $3.13 0.0% 1 1 850 1 0.3%0 0.0%$2,809 $3.30 $2,809 $3.30 0.0% 1 1 856 12 3.8%2 16.7%$3,265 $3.81 $3,265 $3.81 0.0% 2 2 1,050 6 1.9%6 100%$3,325 $3.17 $3,325 $3.17 0.0% 2 2 1,104 8 2.5%6 75.0%$3,345 $3.03 $3,345 $3.03 0.0% 2 2 1,151 16 5.0%15 93.8%$3,305 $2.87 $3,305 $2.87 0.0% 2 2 1,188 20 6.3%4 20.0%$3,730 $3.14 $3,730 $3.14 0.0% 2 2 1,223 36 11.3%33 91.7%$3,530 $2.89 $3,530 $2.89 0.0% 2 2 1,250 1 0.3%1 100%$3,730 $2.98 $3,730 $2.98 0.0% 2 2 1,263 9 2.8%7 77.8%$3,915 $3.10 $3,915 $3.10 0.0% 2 2 1,265 15 4.7%5 33.3%$3,910 $3.09 $3,910 $3.09 0.0% 2 2 1,288 15 4.7%10 66.7%$3,565 $2.77 $3,565 $2.77 0.0% 2 2 1,294 15 4.7%4 26.7%$4,240 $3.28 $4,240 $3.28 0.0% 2 2 1,400 1 0.3%0 0.0%$4,485 $3.20 $4,485 $3.20 0.0% 2 2 1,484 8 2.5%3 37.5%$4,145 $2.79 $4,145 $2.79 0.0% 3 3 1,513 16 5.0%2 12.5%$4,710 $3.11 $4,710 $3.11 0.0% Totals Avg SF Units Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions All Studios 574 1 0.3%0 0.0%$2,490 $4.34 $2,340 $4.08 6.0% All 1 Beds 761 152 47.6%76 50.0%$2,492 $3.27 $2,492 $3.27 0.0% All 2 Beds 1,233 150 47.0%94 62.7%$3,691 $2.99 $3,691 $2.99 0.0% All 3 Beds 1,513 16 5.0%2 12.5%$4,710 $3.11 $4,710 $3.11 0.0% Totals 1,020 319 100%172 53.9%$3,167 $3.10 $3,166 $3.10 0.0% Updated July 31, 2023Estimate SITE AMENITIES Cabana, Fitness Center, Grill, Lounge, Package Service, Pet Play Area, Pet Washing Station, Pool, Roof Terrace, Sauna, Storage Space, Sundeck 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 62 Exhibit 2 Exhibit 2 686 Deliveries Past 12 Months 630 E Woolbright Rd - Avion Riverwalk UNIT AMENITIES Air Conditioning, Ceiling Fans, Granite Countertops, Island Kitchen, Oven, Walk-In Closets, Washer/Dryer, Wi-Fi RECURRING EXPENSES Unassigned Garage Parking $0-100 Storage Fee $95 ONE TIME EXPENSES Dog Fee $350 Cat Fee $350 Admin Fee $250 Application Fee $75 PET POLICY Dog Allowed One-Time Fee: $350-350, 2 Maximum Restrictions: NON-Refundable Pet Fees - $ 350 for 1 pet and $ 450 for 2 pets. Breed Restrictions Apply. No Aggressive Breeds Allowed. Pit Bulls Are Not Permitted. Cat Allowed One-Time Fee: $350-350, 2 Maximum Restrictions: NON-Refundable Pet Fees - $ 350 for 1 pet and $ 450 for 2 pets. Breed Restrictions Apply. No Aggressive Breeds Allowed. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 63 Exhibit 2 Exhibit 2 687 Construction Summary 630 E Woolbright Rd - Avion Riverwalk UNITS UNDER CONSTRUCTION PROJECTED DELIVERY DATES OF UNITS UNDER CONSTRUCTION 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 64 Exhibit 2 Exhibit 2 688 Construction Summary 630 E Woolbright Rd - Avion Riverwalk CONSTRUCTION DELIVERIES IN UNITS CONSTRUCTION STARTS IN UNITS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 65 Exhibit 2 Exhibit 2 689 Construction Summary 630 E Woolbright Rd - Avion Riverwalk PERCENT OCCUPIED AT DELIVERY UNITS OCCUPIED IN DELIVERIES OVER TIME 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 66 Exhibit 2 Exhibit 2 690 Construction Summary 630 E Woolbright Rd - Avion Riverwalk NEW CONSTRUCTION OCCUPANCY AFTER DELIVERY BY YEAR BUILT ABSORPTION IN UNITS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 67 Exhibit 2 Exhibit 2 691 Construction Summary 630 E Woolbright Rd - Avion Riverwalk ASKING RENTAL RATES PER UNIT CONCESSIONS IN DELIVERIES PER YEAR 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 68 Exhibit 2 Exhibit 2 692 630 E Woolbright Rd PREPARED BY Hank Fishkind Sale Comparables Avion Riverwalk 319 Unit Apartment Building Boynton Beach, Florida - Outer Boynton Beach Neighborhood Exhibit 2 Exhibit 2 693 Sale Comparables Summary Avion Riverwalk - 630 E Woolbright Rd 15 $384 $105.4 7.0% Sale Comparables Avg. Price/Unit (thous.)Average Price (mil.)Average Vacancy at Sale SALE COMPARABLES LOCATIONS SALE COMPARABLES SUMMARY STATISTICS Sales Attributes Low Average Median High Sale Price $25,000,000 $105,426,216 $82,750,000 $230,000,000 Price Per Unit $137,362 $384,392 $370,370 $653,198 Cap Rate 3.7%3.7%3.7%3.7% Vacancy Rate at Sale 0%7.0%4.6%28.6% Time Since Sale in Months 1.6 16.5 15.9 23.9 Property Attributes Low Average Median High Property Size in Units 160 274 217 494 Number of Floors 2 4 4 15 Average Unit SF 385 1,008 1,049 1,523 Year Built 1970 2011 2016 2022 Star Rating 3.9 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 70 Exhibit 2 Exhibit 2 694 Sale Comparables Summary Avion Riverwalk - 630 E Woolbright Rd Property Information RatingProperty Name/Address Yr Built Units Vacancy Sale Date Price Price/Unit Price/SF Sale Information 900 Water Tower Way Manor Lantana -1 2021 348 16.4%6/15/2023 $138,000,000 $396,551 $575 3609 High Ridge Way High Ridge Landing -2 2016 184 4.4%9/12/2022 $71,000,000 $385,869 $332 5300-5400 NW Broken Sound… Amalta Broken Sound -3 2022 297 18.5%9/8/2022 $194,000,000 $653,198 $579 1625 Renaissance Commons… Monteverde at Renaissance -4 2007 219 0%7/15/2022 $49,643,240 $226,681 $197 12575 Green Cay Farm Blvd Palm Park Apartments -5 2007 160 0%5/12/2022 $40,250,000 $251,562 $230 1050 Blanche St The District Flats -6 2021 178 6.2%4/25/2022 $78,000,000 $438,202 $451 1575 SW 8th St Verona at Boynton Beach -7 2002 216 4.6%4/6/2022 $80,000,000 $370,370 $308 695 S Olive AKA West Palm -8 2020 217 28.6%4/6/2022 $84,000,000 $387,096 $840 1400 Pine Cir Chelsea Commons Apartments -9 1998 208 1.9%12/21/2021 $58,900,000 $283,173 $259 1000 Audace Ave The District Boynton -10 2017 350 5.7%12/21/2021 $125,850,000 $359,571 $321 600 SeaLofts Dr SeaLofts at Boynton Village -11 2020 433 5.1%12/1/2021 $153,000,000 $353,348 $353 151 SE 3rd Ave South of Atlantic -12 2015 172 2.9%10/29/2021 $82,750,000 $481,104 $481 208 Fern St St Andrews Residence Of Pal…-13 1970 182 0%8/25/2021 $25,000,000 $137,362 $196 1351 S Federal Hwy One Boynton -14 2009 494 5.1%8/25/2021 $171,000,000 $346,153 $533 20940 Uptown Ave Cortland Uptown Boca -15 2020 456 2.2%8/5/2021 $230,000,000 $504,385 $504 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 71 Exhibit 2 Exhibit 2 695 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 1 Manor Lantana - 900 Water Tower Way Lantana, FL 33462 - Outer Boynton Beach Neighborhood SALE Sale Date:6/15/2023 Sale Price:$138,000,000 Price Per Unit:$396,552 Price Per SF:$575 Cap Rate:- PROPERTY Property Size:348 Units, 3 Floors Average Unit Size:1,164 SF Year Built:Dec 2021 Vacancy At Sale:16.4% Parking Spaces:- CONTACTS Buyer:The Praedium Group Seller:Related Development, LLC, Rockpoint FINANCING $75,900,000 from Northwestern Mutual Life Insurance Company: due in 5 yrs UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE Studio 1 648 32 9.2%5 15.6%$2,083 $3.21 $1,923 $2.97 7.7% 1 1 767 56 16.1%9 16.1%$2,358 $3.07 $2,177 $2.84 7.7% 1 1 831 24 6.9%4 16.7%$2,305 $2.77 $2,128 $2.56 7.7% 1 1 979 18 5.2%3 16.7%$2,378 $2.43 $2,196 $2.24 7.7% 2 2 1,081 32 9.2%5 15.6%$2,715 $2.51 $2,507 $2.32 7.7% 2 2 1,111 16 4.6%3 18.8%$2,757 $2.48 $2,546 $2.29 7.7% 2 2 1,169 48 13.8%8 16.7%$2,900 $2.48 $2,678 $2.29 7.7% 2 2 1,361 18 5.2%3 16.7%$3,362 $2.47 $3,104 $2.28 7.7% 2 2 1,525 18 5.2%3 16.7%$3,765 $2.47 $3,476 $2.28 7.7% 2 2 1,704 18 5.2%3 16.7%$3,525 $2.07 $3,255 $1.91 7.7% 3 2 1,455 16 4.6%3 18.8%$3,219 $2.21 $2,972 $2.04 7.7% 3 2 1,583 16 4.6%3 18.8%$3,511 $2.22 $3,242 $2.05 7.7% 3 2 1,692 18 5.2%3 16.7%$3,777 $2.23 $3,487 $2.06 7.7% 3 2 1,873 18 5.2%3 16.7%$4,007 $2.14 $3,700 $1.98 7.7% Totals 1,164 348 100%57 16.4%$2,892 $2.48 $2,671 $2.29 7.7% SITE AMENITIES Clubhouse, Fitness Center, Media Center/Movie Theatre, Pool UNIT AMENITIES Washer/Dryer TRANSACTION NOTES This 348 Unit multi-family property located at 900 Water Tower Way Lantana, FL sold in an Investment sale for $138MM. The Manor Lantana apartments are located in Palm Beach County and sits on 16.12 acres of land. The Praedium Group acquired the property from a JV formed by Related Group and Rockpoint. The parties involved were not available for comment. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 72 Exhibit 2 Exhibit 2 696 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 2 High Ridge Landing - 3609 High Ridge Way Boynton Beach, FL 33426 - Outer Boynton Beach Neighborhood SALE Sale Date:9/12/2022 Sale Price:$71,000,000 Price Per Unit:$385,870 Price Per SF:$332 Cap Rate:3.7% PROPERTY Property Size:184 Units, 3 Floors Average Unit Size:1,049 SF Year Built:Dec 2016 Vacancy At Sale:4.4% Parking Spaces:320 Spaces; 1.7 per Unit CONTACTS Buyer:Yuksel, Inc. Seller:American Landmark Listing Broker:ARA Newmark - Avery Klann, Hampton Beebe, Jackson Huggett… FINANCING $37,500,000 from Western-Southern Life Assurance Company UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 833 48 26.1%2 4.2%$2,049 $2.46 $2,049 $2.46 0.0% 2 2 1,087 71 38.6%3 4.2%$2,489 $2.29 $2,489 $2.29 0.0% 2 2 1,138 41 22.3%2 4.9%$2,539 $2.23 $2,539 $2.23 0.0% 3 2 1,219 24 13.0%1 4.2%$2,935 $2.41 $2,935 $2.41 0.0% Totals 1,049 184 100%8 4.4%$2,444 $2.33 $2,444 $2.33 0.0% SITE AMENITIES 24 Hour Access, Business Center, Car Charging Station, Fenced Lot, Fitness Center, Gated, Pond, Pool, Waterfront UNIT AMENITIES Air Conditioning, Balcony, Carpet, Ceiling Fans, Granite Countertops, Heating, Microwave, Patio, Range, Tub/Shower, Washer/Dryer, Wheelchair Accessible (Rooms) TRANSACTION NOTES This report has been verified with a listing broker and the buyer. On September 12, 2022 American Landmark sold the 184-unit apartment community located at 3609 High Ridge Way in Boynton Beach, FL to Yuksel, Inc. for $71 million, or approximately $385,870 per unit. At the time of sale the subject property was called High Ridge Landing. The property was 96% occupied at the time of sale. A 3.7% cap rate was reported. The seller sold the property because they reached the end of their hold period. The buyer is shifting their investment focus from the State of Washington to Florida. This was their up-leg in a 1031 exchange. See CoStar COMP ID# 6130583 and 6144109 for the down-leg transactions. The buyer financed this acquisition with a $37.5 million loan provided by Western-Southern Life Assurance Company. Attempts made to contact the seller were unsuccessful. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 73 Exhibit 2 Exhibit 2 697 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 3 Amalta Broken Sound - 5300-5400 NW Broken Sound Blvd Boca Raton, FL 33487 - Downtown Boca Raton Neighborhood SALE Sale Date:9/8/2022 Sale Price:$194,000,000 Price Per Unit:$653,199 Price Per SF:$579 Cap Rate:- PROPERTY Property Size:297 Units, 6 Floors Average Unit Size:1,119 SF Year Built:Feb 2022 Vacancy At Sale:18.5% Parking Spaces:- CONTACTS Buyer:Cadillac Fairview, Lincoln Property Company Seller:Related Development, LLC, Rockpoint Listing Broker:Cushman & Wakefield - Robert Given, Zachary Sackley UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 799 56 18.9%10 17.9%$3,050 $3.82 $3,050 $3.82 0.0% 1 1 817 36 12.1%7 19.4%$2,941 $3.60 $2,941 $3.60 0.0% 1 1 914 2 0.7%0 0.0%$3,299 $3.61 $3,299 $3.61 0.0% 1 1 971 4 1.3%1 25.0%$3,401 $3.50 $3,401 $3.50 0.0% 1 1 1,004 6 2.0%1 16.7%$3,499 $3.49 $3,499 $3.49 0.0% 2 2 1,049 18 6.1%3 16.7%$4,297 $4.10 $4,297 $4.10 0.0% 2 2 1,138 65 21.9%12 18.5%$4,182 $3.67 $4,182 $3.67 0.0% 2 2 1,169 39 13.1%7 18.0%$4,475 $3.83 $4,475 $3.83 0.0% 2 2 1,182 4 1.3%1 25.0%$3,953 $3.34 $3,953 $3.34 0.0% 2 2 1,213 5 1.7%1 20.0%$4,822 $3.98 $4,822 $3.98 0.0% 2 2 1,348 6 2.0%1 16.7%$4,595 $3.41 $4,595 $3.41 0.0% 2 2 1,525 6 2.0%1 16.7%$5,905 $3.87 $5,905 $3.87 0.0% 2 2 1,704 6 2.0%1 16.7%$5,399 $3.17 $5,399 $3.17 0.0% 3 2 1,502 22 7.4%4 18.2%$6,055 $4.03 $6,055 $4.03 0.0% 3 2 1,566 6 2.0%1 16.7%$5,550 $3.54 $5,550 $3.54 0.0% 3 2 1,575 4 1.3%1 25.0%$6,119 $3.89 $6,119 $3.89 0.0% 3 2 1,683 6 2.0%1 16.7%$7,730 $4.59 $7,730 $4.59 0.0% 3 2 1,873 6 2.0%1 16.7%$7,805 $4.17 $7,805 $4.17 0.0% Totals 1,120 297 100%55 18.5%$4,246 $3.79 $4,246 $3.79 0.0% SITE AMENITIES Clubhouse, Courtyard, Fitness Center, Gameroom, Lounge, Pet Care, Pool, Spa 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 74 Exhibit 2 Exhibit 2 698 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk TRANSACTION NOTES Manor Broken Sound, a 297-unit multifamily property at 5300-5400 NW Broken Sound Boulevard in Boca Raton, was sold on September 8, 2022 for $194 million. The buyers have re-branded the community as Amalta. The property was completed in February 2022 and was still in lease-up at the time of sale. The occupancy just prior to the sale was reported as 74%. Financing was not found recorded in connection with this transaction. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 75 Exhibit 2 Exhibit 2 699 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 4 Monteverde at Renaissance - 1625 Renaissance Commons Blvd Boynton Beach, FL 33426 - Renaissance Commons Neighborhood SALE Sale Date:7/15/2022 Sale Price:$49,643,240 Price Per Unit:$226,681 Price Per SF:$197 Cap Rate:- PROPERTY Property Size:219 Units, 6 Floors Average Unit Size:1,240 SF Year Built:2007 Vacancy At Sale:0% Parking Spaces:430 Spaces; 2.0 per Unit CONTACTS Buyer:Angelo Gordon & Co., L.P., ESG Kullen, MRP Realty Seller:ESG Kullen FINANCING $49,240,000 from Mesa West Capital UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 811 15 6.8%0 0.0%$1,613 $1.99 $1,609 $1.98 0.2% 2 2 1,122 51 23.3%0 0.0%$1,779 $1.59 $1,775 $1.58 0.3% 2 2 1,188 51 23.3%0 0.0%$1,842 $1.55 $1,838 $1.55 0.3% 2 2 1,289 51 23.3%0 0.0%$1,923 $1.49 $1,918 $1.49 0.2% 3 2 1,488 51 23.3%0 0.0%$2,164 $1.45 $2,158 $1.45 0.3% Totals 1,240 219 100%0 0.0%$1,905 $1.54 $1,901 $1.53 0.2% SITE AMENITIES Bicycle Storage, Elevator, Fitness Center, Gameroom, Gated, Grill, Pool, Property Manager on Site UNIT AMENITIES Air Conditioning, Kitchen, Microwave, Oven, Range, Refrigerator, Tub/Shower, Views, Wheelchair Accessible (Rooms) TRANSACTION NOTES Monteverde at Renaissance at 1625 Renaissance Commons Boulevard in Boynton Beach was sold on July 15, 2022 for $49,643,240. The lender issued a press release reporting that this was a recapitalization and the seller has retained an ownership interest in the property. The 219-unit multifamily building was constructed in 2006 as condominiums. The original developer sold 101 units and the remaining 118 units were sold to a buyer as rentals. The seller acquired the 118 rental units and has since acquired the remaining 101 units from the individual owners and has terminated the condominium association. The buyers obtained financing in the amount of $49.24 million through Mesa West Capital. The lender reported that the buyers will be making improvements to the community amenities but didn't describe the scope of the capital improvement plans. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 76 Exhibit 2 Exhibit 2 700 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 5 Palm Park Apartments - 12575 Green Cay Farm Blvd Boynton Beach, FL 33437 - Outer Royal Palm Beach/Wellington Neighborhood SALE Sale Date:5/12/2022 Sale Price:$40,250,000 Price Per Unit:$251,563 Price Per SF:$230 Cap Rate:- PROPERTY Property Size:160 Units, 3 Floors Average Unit Size:999 SF Year Built:2007 Vacancy At Sale:0% Parking Spaces:- CONTACTS Buyer:Blackstone Real Estate Income Trust, Inc. Seller:Housing Trust Group Listing Broker:Berkadia Commercial Mortgage LLC - Roberto Pesant UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 700 16 10.0%0 0.0%$965 $1.38 $965 $1.38 0.0% 2 2 939 84 52.5%0 0.0%$1,166 $1.24 $1,166 $1.24 0.0% 3 2 1,163 60 37.5%0 0.0%$1,353 $1.16 $1,353 $1.16 0.0% Totals 999 160 100%0 0.0%$1,216 $1.22 $1,216 $1.22 0.0% SITE AMENITIES Clubhouse, Elevator, Fitness Center, Gated, Grill, Laundry Facilities, Lounge, Picnic Area, Playground, Walking/Biking Trails UNIT AMENITIES Air Conditioning, Breakfast Nook, Ceiling Fans, Heating, Kitchen, Security System, Walk-In Closets, Washer/Dryer, Wi-Fi TRANSACTION NOTES On May 12th, 2022, the 175,152 square foot /420-unit Palm Park Apartments multifamily community in Boynton Beach, Florida sold for $40,250,000 or $95,833 per unit. Located at 12575 Green Cay Farm Boulevard, this class B apartment complex, delivered in 2007, features a unit mix of one - to three - bedroom units ranging from 700 to 1,163 square feet. Rents range from $965 to $1,353 per unit. The community boasts amenities such as a clubhouse, fitness center and laundry facilities. They buyer, Blackstone Inc, a New York-based publicly traded Real Estate Investment Trust that owns investment properties globally. The details of this transaction were verified via sources deemed reliable. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 77 Exhibit 2 Exhibit 2 701 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 6 The District Flats - 1050 Blanche St West Palm Beach, FL 33401 - West Palm Beach Neighborhood SALE Sale Date:4/25/2022 Sale Price:$78,000,000 Price Per Unit:$438,202 Price Per SF:$451 Cap Rate:- PROPERTY Property Size:178 Units, 4 Floors Average Unit Size:762 SF Year Built:2021 Vacancy At Sale:6.2% Parking Spaces:- CONTACTS Buyer:Pantzer Properties Seller:Eastwind Development, LLC Buyer Broker:Walker & Dunlop LLC - Still Hunter Listing Broker:Walker & Dunlop LLC - Still Hunter FINANCING $50,700,000 from Truist Bank UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE Studio 1 551 25 14.0%2 8.0%$1,922 $3.49 $1,922 $3.49 0.0% 1 1 684 60 33.7%4 6.7%$2,170 $3.17 $2,170 $3.17 0.0% 1 1 716 26 14.6%2 7.7%$2,211 $3.09 $2,211 $3.09 0.0% 1 1 873 20 11.2%1 5.0%$2,340 $2.68 $2,340 $2.68 0.0% 2 2 930 27 15.2%2 7.4%$2,905 $3.12 $2,905 $3.12 0.0% 2 2 982 20 11.2%1 5.0%$2,915 $2.97 $2,915 $2.97 0.0% Totals 762 178 100%11 6.2%$2,356 $3.09 $2,356 $3.09 0.0% TRANSACTION NOTES On April 29, 2022 Pantzer Properties acquired the multifamily property located at 1701 Clare Ave. This 178 unit property sold for $78 million. At the time of the sale this property was 96% occupied. Walker & Dunlop represented both sides of this deal. This information was verified from the public record documents from Palm Beach County and the seller. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 78 Exhibit 2 Exhibit 2 702 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 7 AKA West Palm - 695 S Olive West Palm Beach, FL 33401 - Downtown West Palm Beach Neighborhood SALE Sale Date:4/6/2022 Sale Price:$84,000,000 Price Per Unit:$387,097 Price Per SF:$840 Cap Rate:- PROPERTY Property Size:217 Units, 4 Floors Average Unit Size:387 SF Year Built:Aug 2020 Vacancy At Sale:28.6% Parking Spaces:178 Spaces; 0.8 per Unit CONTACTS Buyer:Electra America, Korman Communities Seller:Transwestern Development Company Listing Broker:Gulfstream RE Advisors - Giovanni Fausone UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE Studio 1 348 15 6.9%4 26.7%$1,534 $4.41 $1,519 $4.36 1.0% Studio 1 351 30 13.8%9 30.0%$1,588 $4.52 $1,572 $4.48 1.0% Studio 1 352 16 7.4%5 31.3%$1,603 $4.55 $1,587 $4.51 1.0% Studio 1 354 15 6.9%4 26.7%$1,680 $4.75 $1,664 $4.70 1.0% Studio 1 359 15 6.9%4 26.7%$1,581 $4.40 $1,565 $4.36 1.0% Studio 1 367 15 6.9%4 26.7%$1,657 $4.52 $1,641 $4.47 1.0% Studio 1 376 15 6.9%4 26.7%$1,797 $4.78 $1,779 $4.73 1.0% Studio 1 377 15 6.9%4 26.7%$1,844 $4.89 $1,825 $4.84 1.0% Studio 1 382 15 6.9%4 26.7%$1,750 $4.58 $1,732 $4.54 1.0% Studio 1 394 30 13.8%9 30.0%$1,762 $4.47 $1,745 $4.43 1.0% Studio 1 396 15 6.9%4 26.7%$1,727 $4.36 $1,710 $4.32 1.0% Studio 1 413 4 1.8%1 25.0%$1,774 $4.29 $1,756 $4.25 1.0% 1 1 410 1 0.5%0 0.0%$2,234 $5.45 $2,212 $5.40 1.0% 1 1 412 1 0.5%0 0.0%$2,033 $4.93 $2,013 $4.89 1.0% 1 1 426 1 0.5%0 0.0%$2,159 $5.07 $2,137 $5.02 1.0% 1 1 433 1 0.5%0 0.0%$2,078 $4.80 $2,057 $4.75 1.0% 1 1 458 1 0.5%0 0.0%$2,123 $4.64 $2,101 $4.59 1.0% 1 1 464 1 0.5%0 0.0%$1,966 $4.24 $1,946 $4.19 1.0% 1 1 465 1 0.5%0 0.0%$2,190 $4.71 $2,168 $4.66 1.0% 1 1 480 1 0.5%0 0.0%$2,301 $4.79 $2,278 $4.75 1.0% 1 1 508 1 0.5%0 0.0%$2,368 $4.66 $2,345 $4.62 1.0% 1 1 509 1 0.5%0 0.0%$2,413 $4.74 $2,389 $4.69 1.0% 1 1 559 1 0.5%0 0.0%$2,569 $4.60 $2,544 $4.55 1.0% 1 1.5 826 1 0.5%0 0.0%$2,882 $3.49 $2,853 $3.45 1.0% 2 1 612 2 0.9%1 50.0%$4,379 $7.16 $4,336 $7.08 1.0% 2 2 812 1 0.5%0 0.0%$3,290 $4.05 $3,257 $4.01 1.0% 2 2 816 1 0.5%0 0.0%$3,081 $3.78 $3,050 $3.74 1.0% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 79 Exhibit 2 Exhibit 2 703 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE CONTINUED 2 2 823 1 0.5%0 0.0%$3,313 $4.03 $3,280 $3.99 1.0% Totals 385 217 100%62 28.6%$1,763 $4.57 $1,745 $4.53 1.0% SITE AMENITIES Bicycle Storage, Controlled Access, Fitness Center, Lounge, Pool UNIT AMENITIES Views TRANSACTION NOTES This report has been verified with the listing broker and by the attached press release from the buyer. On April 6, 2022 Transwestern Development Company sold the 217-unit apartment community located at 695 South Olive Avenue in West Palm Beach, FL to a joint venture between Korman Communities and Electra America for $84 million, or approximately $387,097 per unit. At the time of sale the subject property was called Current. The property was vacant at the time of sale. The buyer plans to convert the property into a 217-room hotel that will be known as AKA West Palm (CoStar Property ID# 12642647). Attempts made to contact the seller and buyer were unsuccessful. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 80 Exhibit 2 Exhibit 2 704 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 8 Verona at Boynton Beach - 1575 SW 8th St Boynton Beach, FL 33426 - Outer Boynton Beach Neighborhood SALE Sale Date:4/6/2022 Sale Price:$80,000,000 Price Per Unit:$370,370 Price Per SF:$308 Cap Rate:- PROPERTY Property Size:216 Units, 3 Floors Average Unit Size:1,097 SF Year Built:2002 Vacancy At Sale:4.6% Parking Spaces:440 Spaces; 2.0 per Unit CONTACTS Buyer:Waterton Seller:LEM Capital, Robbins Property Associates LLC UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 822 36 16.7%2 5.6%$2,015 $2.45 $2,015 $2.45 0.0% 1 1 924 36 16.7%2 5.6%$1,867 $2.02 $1,867 $2.02 0.0% 2 2 1,116 54 25.0%3 5.6%$2,490 $2.23 $2,490 $2.23 0.0% 2 2 1,220 54 25.0%3 5.6%$2,322 $1.90 $2,322 $1.90 0.0% 3 2 1,281 18 8.3%1 5.6%$2,545 $1.99 $2,545 $1.99 0.0% 3 2 1,387 18 8.3%1 5.6%$2,805 $2.02 $2,805 $2.02 0.0% Totals 1,097 216 100%10 4.6%$2,296 $2.09 $2,296 $2.09 0.0% SITE AMENITIES Business Center, Clubhouse, Controlled Access, Fitness Center, Grill, Laundry Facilities, Maintenance on site, Picnic Area, Playground, Property Manager on Site, Putting Greens, Sundeck, Volleyball Court UNIT AMENITIES Air Conditioning, Ceiling Fans, Dishwasher, Disposal, Microwave, Walk-In Closets, Washer/Dryer, Window Coverings TRANSACTION NOTES This report has been verified by information available to the public. On April 6, 2022 a joint venture between Robbins Property Associates LLC and LEM Capital sold the 216-unit apartment community located at 1575 SW 8th Street in Boynton Beach, FL to Waterton for $80 million, or approximately $370,370 per unit. At the time of sale the subject property was called Verona at Boynton Beach. Attempts made to contact the seller and buyer were unsuccessful. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 81 Exhibit 2 Exhibit 2 705 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 9 The District Boynton - 1000 Audace Ave Boynton Beach, FL 33426 - Outer Boynton Beach Neighborhood SALE Sale Date:12/21/2021 Sale Price:$125,850,000 Price Per Unit:$359,571 Price Per SF:$321 Cap Rate:- PROPERTY Property Size:350 Units, 4 Floors Average Unit Size:1,012 SF Year Built:Oct 2017 Vacancy At Sale:5.7% Parking Spaces:400 Spaces; 1.1 per Unit CONTACTS Buyer:Nuveen Seller:Ram Realty Listing Broker:ARA Newmark - Avery Klann, Hampton Beebe, Jackson Huggett,… UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 800 140 40.0%8 5.7%$2,430 $3.04 $2,413 $3.02 0.7% 1 1 980 12 3.4%1 8.3%$2,275 $2.32 $2,260 $2.31 0.7% 2 2 1,051 70 20.0%4 5.7%$2,780 $2.65 $2,761 $2.63 0.7% 2 2 1,165 72 20.6%4 5.6%$2,707 $2.32 $2,689 $2.31 0.7% 3 2 1,303 56 16.0%3 5.4%$3,125 $2.40 $3,104 $2.38 0.7% Totals 1,012 350 100%20 5.7%$2,663 $2.63 $2,645 $2.61 0.7% SITE AMENITIES 24 Hour Access, Business Center, Car Charging Station, Clubhouse, Controlled Access, Fitness Center, Lounge, Online Services, Package Service, Pet Washing Station, Playground, Pool, Property Manager on Site, Public Transportation, Smoke Free, Spa, Sundeck UNIT AMENITIES Air Conditioning, Balcony, Ceiling Fans, Freezer, Granite Countertops, Hardwood Floors, Heating, Kitchen, Microwave, Oven, Patio, Range, Refrigerator, Stainless Steel Appliances, Tub/Shower, Walk-In Closets, Washer/Dryer TRANSACTION NOTES On December 21st, 2021 The District Boynton, a 350 unit apartment in Boynton Beach, FL sold for $125,850,000 or $359,571 per unit. The subject property sits on 13. 18 acres of SMU zoned land and was developed in 2017. The property has been stabilized above 90% occupancy since Mid 2019 according to apartments.com research, with 96% occupancy at the time of sale. The current unit mix consists of 152 single bed, 142 two bed, and 56 three bed units with monthly rents between $2,000 to $3,200. Amenities include a clubhouse, a private courtyard with heated saltwater pool and beach entry, a sundeck and 24-hour fitness center. The sellers and developers were Palm Beach Gardens based Ram Realty. NY based Nuveen acquired the property. A mortgage was unavailable at the time of this publication. The details of this transaction were confirmed with sources deemed reliable on both sides of the sale. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 82 Exhibit 2 Exhibit 2 706 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 10 Chelsea Commons Apartments - 1400 Pine Cir Lake Worth, FL 33463 - Outer Greenacres Neighborhood SALE Sale Date:12/21/2021 Sale Price:$58,900,000 Price Per Unit:$283,173 Price Per SF:$259 Cap Rate:- PROPERTY Property Size:208 Units, 2 Floors Average Unit Size:1,522 SF Year Built:1998 Vacancy At Sale:1.9% Parking Spaces:460 Spaces; 2.2 per Unit CONTACTS Buyer:Starwood Real Estate Income Trust, Inc. Seller:Southport Financial Services UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 2 2 999 79 38.0%1 1.3%$1,539 $1.54 $1,539 $1.54 0.0% 3 2 1,192 30 14.4%1 3.3%$1,648 $1.38 $1,648 $1.38 0.0% 3 2 2,000 49 23.6%1 2.0%$2,350 $1.18 $2,350 $1.18 0.0% 4 2 1,460 25 12.0%0 0.0%$1,854 $1.27 $1,854 $1.27 0.0% 4 2 2,700 25 12.0%0 0.0%$2,350 $0.87 $2,350 $0.87 0.0% Totals 1,523 208 100%4 1.9%$1,881 $1.24 $1,881 $1.24 0.0% SITE AMENITIES Fitness Center, Playground UNIT AMENITIES Air Conditioning, Balcony, Cable Ready, Carpet, Kitchen, Oven, Pantry, Patio, Range, Refrigerator, Tub/Shower, Walk-In Closets, Washer/Dryer, Wheelchair Accessible (Rooms), Window Coverings TRANSACTION NOTES A portfolio of 9 affordable housing communities with a total of 1,534 units were sold on December 21, 2021 for an undisclosed sale price. Seven of the properties in the portfolio traded for a combined $254 million excluding the 2 Utah properties which are in a non-disclosure state. The parties were either unable to be reached or unwilling to discuss the transaction. The sold properties include: Venice Cove Apartments at 721 NW 19th St in Fort Lauderdale, FL; Colony Park at 8215 Belvedere Road in West Palm Beach, FL; Grande Court North Port at 5203 Greenwood Ave in North Port, FL; Hampton Ridge at 11501 Harts Road in Jacksonville, FL; Chelsea Commons at 1400 Pine Circle in Lake Worth, FL; San Marcos Villas at 800 Venetian Isles Drive in West Palm Beach, FL; Forest Glen at 100 Lynn Forest Drive in Durham, NC; Mayflower Harbor at 4125 N 3250 W Lehi, UT; and Rose Cove at 847 N Shepherd Parkway in Farmington, UT. The buyer issued a press release regarding their December acquisition of 17 affordable housing properties that included 3,264 units. The sales were completed in 3 transactions from separate sellers. Please see CoStar COMP ID: 5812083 for additional information regarding the sale of 4 properties in Texas for an undisclosed sale price and COMP ID: 5812086 for additional information regarding the sale of 4 properties in Florida for $134.4 million. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 83 Exhibit 2 Exhibit 2 707 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 11 SeaLofts at Boynton Village - 600 SeaLofts Dr Boynton Beach, FL 33426 - Outer Boynton Beach Neighborhood SALE Sale Date:12/1/2021 Sale Price:$153,000,000 Price Per Unit:$353,349 Price Per SF:$353 Cap Rate:- PROPERTY Property Size:433 Units, 4 Floors Average Unit Size:1,006 SF Year Built:Nov 2020 Vacancy At Sale:5.1% Parking Spaces:808 Spaces; 1.9 per Unit CONTACTS Buyer:The Shidler Group Seller:Rockpoint, The Morgan Group Listing Broker:ARA Newmark - Avery Klann, Hampton Beebe, Jackson Huggett,… FINANCING $79,000,000 from Harbor Group International, LLC: Acquisition & Development UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 760 36 8.3%2 5.6%$1,975 $2.60 $1,954 $2.57 1.1% 1 1 792 72 16.6%4 5.6%$2,025 $2.56 $2,003 $2.53 1.1% 1 1 839 54 12.5%3 5.6%$2,075 $2.47 $2,053 $2.45 1.1% 1 1 882 63 14.5%3 4.8%$2,150 $2.44 $2,127 $2.41 1.1% 1 1 888 54 12.5%3 5.6%$2,085 $2.35 $2,063 $2.32 1.1% 2 2 1,066 63 14.5%3 4.8%$2,725 $2.56 $2,696 $2.53 1.1% 2 2 1,191 36 8.3%2 5.6%$2,875 $2.41 $2,844 $2.39 1.1% 3 2.5 1,674 33 7.6%2 6.1%$3,675 $2.20 $3,636 $2.17 1.1% 3 2.5 1,700 22 5.1%1 4.6%$3,800 $2.24 $3,759 $2.21 1.1% Totals 1,007 433 100%22 5.1%$2,441 $2.43 $2,415 $2.40 1.1% SITE AMENITIES Conference Rooms, Elevator, Fitness Center, Gameroom, Grill, Lounge, Pet Care, Playground, Pool, Recycling, Storage Space, Trash Pickup - Door to Door, Zen Garden UNIT AMENITIES Air Conditioning, Balcony, Dishwasher, Granite Countertops, Island Kitchen, Kitchen, Microwave, Oven, Patio, Refrigerator, Stainless Steel Appliances, Tub/Shower, Walk-In Closets TRANSACTION NOTES On 12/1/2021, Cortina III Owner LLC, a partnership between Dallas-based Rockpoint Group and Houston-based Morgan Group, sold the 433 units at 600 Sealofts Drive in Boynton Beach, FL, to The Shidler Group for $153,000,000. Harbor Group International LLC provided the buyer with a $79,000,000 loan towards the purchase. The down payment was $84,000,000. Known as the SeaLofts at Boynton Village, the property spreads across on 19.38-acres in the Outer Boynton Beach multifamily submarket. Amenities include, a pool, a fitness center, a zen garden, a game room, and additional storage space. Neither the seller or the buyer have commented on the transaction. When the information is available, this report will be updated. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 84 Exhibit 2 Exhibit 2 708 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 12 South of Atlantic - 151 SE 3rd Ave Delray Beach, FL 33483 - Downtown Delray Beach Neighborhood SALE Sale Date:10/29/2021 Sale Price:$82,750,000 Price Per Unit:$481,105 Price Per SF:$481 Cap Rate:- PROPERTY Property Size:172 Units, 4 Floors Average Unit Size:908 SF Year Built:Nov 2015 Vacancy At Sale:2.9% Parking Spaces:200 Spaces; 1.2 per Unit CONTACTS Buyer:TA Realty Seller:Mesirow Financial FINANCING $40,560,000 from Prudential Multifamily Mortgage LLC UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE Studio 1 477 3 1.7%0 0.0%$2,164 $4.54 $2,164 $4.54 0.0% Studio 1 553 4 2.3%0 0.0%$2,394 $4.33 $2,394 $4.33 0.0% Studio 1 586 6 3.5%0 0.0%$2,036 $3.47 $2,036 $3.47 0.0% Studio 1 593 6 3.5%0 0.0%$2,279 $3.84 $2,279 $3.84 0.0% Studio 1 642 6 3.5%0 0.0%$2,371 $3.69 $2,371 $3.69 0.0% Studio 1 671 3 1.7%0 0.0%$2,504 $3.73 $2,504 $3.73 0.0% 1 1 706 6 3.5%0 0.0%$2,435 $3.45 $2,435 $3.45 0.0% 1 1 751 4 2.3%0 0.0%$2,325 $3.10 $2,325 $3.10 0.0% 1 1 774 23 13.4%1 4.4%$2,732 $3.53 $2,732 $3.53 0.0% 1 1 775 24 14.0%1 4.2%$2,698 $3.48 $2,698 $3.48 0.0% 1 1 785 6 3.5%0 0.0%$2,681 $3.41 $2,681 $3.41 0.0% 1 1 787 8 4.7%0 0.0%$2,595 $3.30 $2,595 $3.30 0.0% 2 2 1,096 3 1.7%0 0.0%$3,278 $2.99 $3,278 $2.99 0.0% 2 2 1,112 6 3.5%0 0.0%$3,401 $3.06 $3,401 $3.06 0.0% 2 2 1,131 22 12.8%1 4.6%$3,219 $2.85 $3,219 $2.85 0.0% 2 2 1,140 4 2.3%0 0.0%$3,194 $2.80 $3,194 $2.80 0.0% 2 2 1,165 6 3.5%0 0.0%$3,535 $3.03 $3,535 $3.03 0.0% 2 2 1,174 3 1.7%0 0.0%$3,367 $2.87 $3,367 $2.87 0.0% 2 2 1,194 18 10.5%1 5.6%$3,535 $2.96 $3,535 $2.96 0.0% 2 2 1,210 6 3.5%0 0.0%$3,365 $2.78 $3,365 $2.78 0.0% 2 2 1,242 2 1.2%0 0.0%$3,237 $2.61 $3,237 $2.61 0.0% 2 2 1,286 3 1.7%0 0.0%$3,231 $2.51 $3,231 $2.51 0.0% Totals 908 172 100%5 2.9%$2,891 $3.18 $2,891 $3.18 0.0% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 85 Exhibit 2 Exhibit 2 709 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk SITE AMENITIES Bicycle Storage, Cabana, Controlled Access, Fitness Center, Grill, Lounge, Pool, Spa UNIT AMENITIES Ceiling Fans, Deck, Hardwood Floors, Stainless Steel Appliances, Tub/Shower, Washer/Dryer TRANSACTION NOTES This report has been verified by information available to the public. On October 29, 2021 Mesirow Financial sold the 172-unit apartment community located at 151 SE 3rd Avenue in Delray Beach, FL to TA Realty for $82.75 million, or approximately $481,105 per unit. At the time of sale the subject property was called South of Atlantic. The buyer financed this acquisition with a $40.56 million loan provided by Prudential Multifamily Mortgage LLC. Attempts made to contact the seller and buyer were unsuccessful. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 86 Exhibit 2 Exhibit 2 710 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 13 One Boynton - 1351 S Federal Hwy Boynton Beach, FL 33435 - Outer Boynton Beach Neighborhood SALE Sale Date:8/25/2021 Sale Price:$171,000,000 Price Per Unit:$346,154 Price Per SF:$533 Cap Rate:- PROPERTY Property Size:494 Units, 5 Floors Average Unit Size:1,152 SF Year Built:2009 Vacancy At Sale:5.1% Parking Spaces:980 Spaces; 2.0 per Unit CONTACTS Buyer:Blackstone Real Estate Income Trust, Inc. Seller:RangeWater Real Estate Listing Broker:ARA Newmark - Avery Klann, Hampton Beebe, Jackson Huggett,… UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 789 12 2.4%1 8.3%$1,781 $2.26 $1,781 $2.26 0.0% 1 1 890 163 33.0%8 4.9%$1,545 $1.74 $1,545 $1.74 0.0% 1 1 1,032 25 5.1%1 4.0%$2,486 $2.41 $2,486 $2.41 0.0% 2 2 1,103 26 5.3%1 3.9%$2,760 $2.50 $2,760 $2.50 0.0% 2 2 1,153 19 3.8%1 5.3%$2,861 $2.48 $2,861 $2.48 0.0% 2 2 1,222 11 2.2%1 9.1%$2,771 $2.27 $2,771 $2.27 0.0% 2 2 1,227 122 24.7%6 4.9%$2,270 $1.85 $2,270 $1.85 0.0% 2 2 1,262 4 0.8%0 0.0%$2,940 $2.33 $2,940 $2.33 0.0% 2 2 1,432 8 1.6%0 0.0%$2,543 $1.78 $2,543 $1.78 0.0% 2 2 1,437 18 3.6%1 5.6%$2,094 $1.46 $2,094 $1.46 0.0% 2 2 1,479 2 0.4%0 0.0%$2,575 $1.74 $2,575 $1.74 0.0% 3 2 1,249 24 4.9%1 4.2%$2,879 $2.31 $2,861 $2.29 0.6% 3 2 1,368 22 4.5%1 4.6%$2,710 $1.98 $2,693 $1.97 0.6% 3 2 1,580 14 2.8%1 7.1%$2,925 $1.85 $2,907 $1.84 0.6% 3 2 1,870 1 0.2%0 0.0%$2,752 $1.47 $2,735 $1.46 0.6% 3 2 2,000 2 0.4%0 0.0%$3,776 $1.89 $3,753 $1.88 0.6% 3 2.5 2,000 19 3.8%1 5.3%$3,728 $1.86 $3,704 $1.85 0.6% 3 3 1,870 2 0.4%0 0.0%$3,015 $1.61 $2,996 $1.60 0.6% Totals 1,152 494 100%25 5.1%$2,228 $1.93 $2,225 $1.93 0.1% SITE AMENITIES Basketball Court, Bicycle Storage, Breakfast/Coffee Concierge, Business Center, Clubhouse, Controlled Access, Courtyard, Elevator, Fitness Center, Gated, Grill, Guest Apartment, Laundry Facilities, Maintenance on site, Media Center/Movie Theatre, Package Service, Picnic Area, Property Manager on Site, Recycling, Spa, Wi-Fi UNIT AMENITIES Air Conditioning, Balcony, Cable Ready, Ceiling Fans, Dishwasher, Disposal, Granite Countertops, Microwave, Oven, Patio, Refrigerator, Security System, Views, Walk-In Closets, Washer/Dryer, Window Coverings 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 87 Exhibit 2 Exhibit 2 711 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk TRANSACTION NOTES This report has been verified by information available to the public. On August 25, 2021 RangeWater Real Estate sold the 494-unit apartment community located at 1351 South Federal Highway in Boynton Beach, FL to The Blackstone Group Inc. for $171 million, or approximately $346,153 per unit. At the time of sale the subject property was called One Boynton. Amenities include on site restaurant and retail, stainless steel appliances, quartz countertops, multiple swimming pools and a residents lounge. The property last sold for $109.35 million in 2016 (please see CoStar COMPS# 3779937). Attempts made to contact the seller, listing brokers and the buyer were unsuccessful. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 88 Exhibit 2 Exhibit 2 712 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 14 St Andrews Residence Of Palm Beach - 208 Fern St West Palm Beach, FL 33401 - Downtown West Palm Beach Neighborhood SALE Sale Date:8/25/2021 Sale Price:$25,000,000 Price Per Unit:$137,363 Price Per SF:$196 Cap Rate:- PROPERTY Property Size:182 Units, 15 Floors Average Unit Size:597 SF Year Built:1970 Vacancy At Sale:0% Parking Spaces:- CONTACTS Buyer:Rainbow Housing Assistance Corporation, The Related Companies Seller:Diocese of Southeast Florida Listing Broker:Marcus & Millichap - Matthew Kurzmann UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE Studio 0 -5 2.7%0 0.0%$728 -$726 -0.2% Studio 1 544 100 54.9%0 0.0%$711 $1.31 $709 $1.30 0.3% 1 1 644 47 25.8%0 0.0%$941 $1.46 $939 $1.46 0.3% 1 2 700 30 16.5%0 0.0%$1,124 $1.61 $1,121 $1.60 0.2% Totals 597 182 100%0 0.0%$839 $1.41 $837 $1.41 0.3% TRANSACTION NOTES The information for this report has been verified by information available to the public. On September 2, 2021 Diocese of Southeast Florida sold two apartment communities totaling 330 units located in West Palm Beach, FL to a joint venture between Rainbow Housing Assistance Corporation and The Related Companies for $65 million, or approximately $196,969 per unit. The properties are subject to affordability restrictions. Subject Properties: St. James Residence of the Palm Beaches - 148 units located at 400 South Olive Avenue sold for $40 million St. James Residence of the Palm Beaches - 182 units located at 208 Fern Street sold for $25 million Third-party news stories reported the new ownership group plans to renovate the properties and keep the affordability restrictions in place. Attempts made to contact the seller and buyer were unsuccessful. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 89 Exhibit 2 Exhibit 2 713 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk 15 Cortland Uptown Boca - 20940 Uptown Ave Boca Raton, FL 33428 - West Boca Raton Neighborhood SALE Sale Date:8/5/2021 Sale Price:$230,000,000 Price Per Unit:$504,386 Price Per SF:$504 Cap Rate:- PROPERTY Property Size:456 Units, 5 Floors Average Unit Size:1,120 SF Year Built:Nov 2020 Vacancy At Sale:2.2% Parking Spaces:290 Spaces; 0.6 per Unit CONTACTS Buyer:Cortland Seller:Giles Capital Group, Rosemurgy Properties, SPG Realty LLC, Wh… Listing Broker:Cushman & Wakefield - Neal Victor, Robert Given, Troy Ballard,… UnitsBedBathAvg SF Mix %Units Mix %Per Unit Per SF Per Unit Per SF Concessions Unit Mix Vacancy Avg Asking Rent Avg Effective Rent UNIT MIX AT SALE 1 1 718 56 12.3%1 1.8%$2,328 $3.24 $2,328 $3.24 0.0% 1 1 730 14 3.1%0 0.0%$2,186 $2.99 $2,186 $2.99 0.0% 1 1 739 10 2.2%0 0.0%$2,310 $3.13 $2,310 $3.13 0.0% 1 1 786 10 2.2%0 0.0%$2,402 $3.06 $2,402 $3.06 0.0% 1 1 798 4 0.9%0 0.0%$2,428 $3.04 $2,428 $3.04 0.0% 2 2 986 40 8.8%1 2.5%$2,583 $2.62 $2,583 $2.62 0.0% 2 2 1,048 70 15.4%1 1.4%$3,423 $3.27 $3,423 $3.27 0.0% 2 2 1,063 6 1.3%0 0.0%$3,377 $3.18 $3,377 $3.18 0.0% 2 2 1,124 116 25.4%2 1.7%$3,176 $2.83 $3,176 $2.83 0.0% 3 2 1,403 100 21.9%2 2.0%$5,222 $3.72 $5,222 $3.72 0.0% 4 3 1,737 30 6.6%1 3.3%$5,515 $3.18 $5,515 $3.18 0.0% Totals 1,120 456 100%10 2.2%$3,590 $3.20 $3,590 $3.20 0.0% SITE AMENITIES Controlled Access, Elevator, Fitness Center, Gameroom, Gated, Grill, Lounge, Package Service, Pet Play Area, Pet Washing Station, Pool UNIT AMENITIES Ceiling Fans, Dishwasher, Disposal, Granite Countertops, Heating, Kitchen, Microwave, Oven, Range, Refrigerator, Stainless Steel Appliances, Vaulted Ceiling, Views, Walk-In Closets, Washer/Dryer 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 90 Exhibit 2 Exhibit 2 714 Sale Comparables 630 E Woolbright Rd - Avion Riverwalk TRANSACTION NOTES This 456-unit multifamily property sold on August 5th, 2021 for a total of $230 million. The property, originally coined "The Residences At Uptown Boca", was 88% occupied at the time of the sale. Rebranded as "Cortland Uptown Boca", the community and its management team offer amenities including but not limited to communal pool and sundeck access, a movie theater, 24/7 fitness center facilities, and planned resident social events. The seller and original developer, Giles Capital Group, owned the property as part of a joint venture between Rosemurgy Properties, SPG, and Wheelock Street Capital. They were represented in the transaction by a Cushman & Wakefield team led by Robert Givens, Zachary Sackley, Troy Ballard, and Neal Victor. The property was purchased by Cortland at a rate of $504,386 per unit. Additional financial details, such as net income or acquisition financing on the property, could not be disclosed. Unfortunately, the parties involved were not available for comment at the time of publication. The details of this sale comparable report were originally compiled via public record documents from the county register and local news outlets, and further verified via sources deemed reliable. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 91 Exhibit 2 Exhibit 2 715 Sales Volume 630 E Woolbright Rd - Avion Riverwalk PALM BEACH METRO SALES VOLUME IN UNITS BOYNTON BEACH SUBMARKET SALES VOLUME IN UNITS OUTER BOYNTON BEACH NEIGHBORHOOD SALES VOLUME IN UNITS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 92 Exhibit 2 Exhibit 2 716 Sales Pricing 630 E Woolbright Rd - Avion Riverwalk NATIONAL PRICE INDICES REGIONAL MULTI-FAMILY PRICE INDICES 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 93 Exhibit 2 Exhibit 2 717 Sales Pricing 630 E Woolbright Rd - Avion Riverwalk PRICE PER UNIT TRENDS UNITED STATES SALE PRICE PER UNIT DISTRIBUTION PAST 12 MONTHS PALM BEACH SALE PRICE PER UNIT DISTRIBUTION PAST 12 MONTHS PRICE PER UNIT SUMMARY FOR SALES IN PAST YEAR Geography HighTop 25%AverageMedianBottom 25%LowTransactions $16,047,297United States 14,250 $5,000 $61,540 $172,500 $209,996 $499,266 $2,556,563Palm Beach 77 $29,429 $100,788 $200,000 $335,701 $698,417 $1,318,182Boynton Beach 20 $127,874 $152,389 $182,970 $313,130 $537,621 $1,318,182Outer Boynton Beach 6 $170,213 $188,953 $341,685 $387,805 $857,367 $653,198Selected Sale Comps 15 $137,362 $224,695 $370,370 $384,392 $519,222 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 94 Exhibit 2 Exhibit 2 718 Cap Rates 630 E Woolbright Rd - Avion Riverwalk MARKET CAP RATE UNITED STATES CAP RATE DISTRIBUTION PAST 12 MONTHS PALM BEACH CAP RATE DISTRIBUTION PAST 12 MONTHS CAP RATE SUMMARY STATISTICS IN PAST YEAR Geography HighTop 25%AverageMedianBottom 25%LowTransactions 25.0%United States 5,134 1.0%3.6%5.3%5.7%8.4% 11.5%Palm Beach 36 2.4%3.8%5.1%5.4%7.3% 7.0%Boynton Beach 14 2.4%3.3%4.7%4.7%6.3% 4.2%Outer Boynton Beach 2 3.7%N/A 4.0%4.0%N/A 3.7%Selected Sale Comps 1 3.7%N/A 3.7%3.7%N/A 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 95 Exhibit 2 Exhibit 2 719 Buyers 630 E Woolbright Rd - Avion Riverwalk TOP PALM BEACH MULTIFAMILY BUYERS PAST TWO YEARS Purchased at least one asset in Boynton Beach Multi-Family submarket Properties Bought Company Name Bldgs VolumeUnits Properties Sold Units BldgsVolume Blackstone Inc.8 2,308 $586,071,718 0 0 - Cortland 4 1,814 $543,572,000 2 1,076 $201,572,000 Carroll 4 1,304 $512,476,247 3 1,104 $375,314,243 Starwood Capital Group 6 1,488 $475,558,243 3 551 $165,118,004 Berkshire 1 390 $202,500,000 0 0 - Lincoln Property Company 1 297 $194,000,000 0 0 - Ontario Teachers' Pension Plan 1 297 $194,000,000 0 0 - Prudential Financial, Inc.1 448 $165,118,004 3 1,104 $375,314,243 The Bainbridge Companies 1 304 $161,100,000 0 0 - TPG Global LLC 1 304 $161,100,000 0 0 - Deutsche Bank AG 2 538 $157,500,000 0 0 - The Shidler Group 1 433 $153,000,000 0 0 - The Related Companies 9 859 $149,814,271 3 969 $437,000,000 Pantzer Properties 2 314 $144,500,000 0 0 - Northland 1 352 $138,500,000 4 981 $259,500,000 The Praedium Group 1 348 $138,000,000 0 0 - Morgan Properties 3 622 $132,500,000 0 0 - S2 Capital. LLC 1 359 $127,000,000 0 0 - Teachers Insurance and Annuity Assoc of A…1 350 $125,850,000 0 0 - Harbor Group International, LLC 2 568 $106,000,000 0 0 - Olympus Properties 1 324 $105,000,000 0 0 - Fontainebleau Development 1 40 $102,262,500 0 0 - Greystar Real Estate Partners 1 448 $92,156,000 0 0 - Healthcare of Ontario Pension Plan 1 252 $84,439,605 0 0 - Elco Ltd.1 217 $84,000,000 2 384 $135,200,000 TYPES OF MULTIFAMILY PALM BEACH BUYERS PAST TWO YEARS Company Type Bldgs Billions Avg PricePrice/Unit Average Purchase Units Buying Volume Private 234 13,830 $278,073 $16,434,864$3.85 Institutional 25 5,877 $344,655 $81,021,683$2.03 Private Equity 14 3,593 $287,472 $73,777,854$1.03 REIT/Public 0 0 --- $0 $1 $2 $3 $4 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 96 Exhibit 2 Exhibit 2 720 Sellers 630 E Woolbright Rd - Avion Riverwalk TOP PALM BEACH MULTIFAMILY SELLERS PAST TWO YEARS Sold at least one asset in Boynton Beach Multi-Family submarket Properties Sold Company Name Bldgs VolumeUnits Properties Bought Units BldgsVolume Rockpoint 3 1,078 $485,000,000 0 0 - The Related Companies 3 969 $437,000,000 9 859 $149,814,271 Carroll 3 1,104 $375,314,243 4 1,304 $512,476,247 Prudential Financial, Inc.3 1,104 $375,314,243 1 448 $165,118,004 Northland 4 981 $259,500,000 1 352 $138,500,000 Giles Capital Group 1 456 $230,000,000 0 0 - Rosemurgy Properties 1 456 $230,000,000 0 0 - Schmier & Feurring Properties, Inc.1 456 $230,000,000 0 0 - Wheelock Street Capital 1 456 $230,000,000 0 0 - Heitman 1 390 $202,500,000 0 0 - Cortland 2 1,076 $201,572,000 4 1,814 $543,572,000 Cornerstone Group 4 1,066 $179,921,718 0 0 - Southport Financial Services 3 738 $176,400,000 0 0 - RangeWater Real Estate 1 494 $171,000,000 0 0 - Starwood Capital Group 3 551 $165,118,004 6 1,488 $475,558,243 Klingbeil Capital Management Ltd.1 304 $161,100,000 0 0 - Brookfield Corporation 2 538 $157,500,000 0 0 - The Morgan Group 1 433 $153,000,000 0 0 - Eastwind Development, LLC 2 314 $144,500,000 0 0 - Mann Realty Associates 1 352 $138,500,000 0 0 - Elco Ltd.2 384 $135,200,000 1 217 $84,000,000 Ram Realty 1 350 $125,850,000 0 0 - Brass Enterprises 1 282 $112,000,000 0 0 - Alliance Residential Company 1 280 $106,000,000 0 0 - The Carlyle Group 1 280 $106,000,000 0 0 - TYPES OF MULTIFAMILY PALM BEACH SELLERS PAST TWO YEARS Company Type Bldgs Billions Avg PricePrice/Unit Average Sale Units Selling Volume Private 259 17,263 $283,997 $18,929,125$4.90 Institutional 15 3,468 $328,635 $75,980,483$1.14 Private Equity 7 2,291 $402,506 $131,734,748$0.92 REIT/Public 0 0 --- $0 $1.30 $2.60 $3.90 $5.20 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 97 Exhibit 2 Exhibit 2 721 630 E Woolbright Rd - Avion Riverwalk PREPARED BY Hank Fishkind Demographics 326,000 SF Multi-Family Building Exhibit 2 Exhibit 2 722 Demographic Overview 630 E Woolbright Rd 16,496 1.9 47 $61,969 Population (1 mi)Avg. HH Size (1 mi)Avg. Age (1 mi)Med. HH Inc. (1 mi) DEMOGRAPHIC RADIUS RINGS DEMOGRAPHIC SUMMARY 5 Mile3 Mile1 MilePopulation 181,03571,95416,4962023 Population 182,81673,58217,1472028 Population 1.0%2.3%4.0%Pop Growth 2023-2028 4544472023 Average Age Households 77,86631,2048,1642023 Households 78,54031,8968,4872028 Households 0.9%2.2%4.0%Household Growth 2023-2028 $66,450$63,327$61,969Median Household Income 2.22.21.9Average Household Size 221Average HH Vehicles Housing $316,940$326,242$317,688Median Home Value 198319791976Median Year Built 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 99 Exhibit 2 Exhibit 2 723 Age & Education 630 E Woolbright Rd - Avion Riverwalk POPULATION BY AGE GROUP IN 1 MILE RADIUS POPULATION BY EDUCATION IN 1 MILE RADIUSPOPULATION BY AGE IN 1 MILE RADIUS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 100 Exhibit 2 Exhibit 2 724 POPULATION BY RACE MILITARY POPULATION Ethnicity 630 E Woolbright Rd 5 Mile3 MileRace1 Mile 2023 Population 118,87472.98%White 45,262 62.90%65.66%12,039 53,94422.71%Black 23,601 32.80%29.80%3,747 4,1642.25%Asian 1,385 1.92%2.30%371 639< 1%American Indian & Alaskan 310 < 1%< 1%66 161< 1%Hawaiian & Pacific Islander 49 < 1%< 1%4 3,2521.63%Other 1,348 1.87%1.80%269 0 2,800 5,600 8,400 11,200 14,000 HISPANIC POPULATION IN 1 MILE RADIUSPOPULATION BY RACE IN 1 MILE RADIUS 5 Mile3 Mile1 Mile 2023 Population 55< 1%Military 14 < 1%< 1%7 88,31799.91%Non-Military Workforce 34,823 99.96%99.94%8,058 0 1,800 3,600 5,400 7,200 9,000 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 101 Exhibit 2 Exhibit 2 725 Boynton/Lantana PREPARED BY Hank Fishkind Retail Submarket Report Palm Beach - FL Exhibit 3 Exhibit 3 726 RETAIL SUBMARKET REPORT Submarket Key Statistics 1 Leasing 2 Rent 5 Construction 6 Sales 10 Sales Past 12 Months 12 Supply & Demand Trends 14 Rent & Vacancy 17 Sale Trends 20 Boynton/Lantana Retail 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Exhibit 3 Exhibit 3 727 Overview Boynton/Lantana Retail 73K 60.7K 3.2%9.0% 12 Mo Deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Rent Growth Vacancy in the Boynton/Lantana retail submarket is 3.2%, which is essentially the same level it was a year ago. Vacancy has only risen 0.1% during this time. During this period, 73,000 SF has delivered, and 61,000 SF has been absorbed. Total availability, which includes sublease space, is 3.9% of all inventory. Within this submarket, Neighborhood Centers are the largest subtype, with 4.2 million SF in this category. Rents are around $34.00/SF, which is a 9.0% increase from where they were a year ago. In the past three years, rents have increased a cumulative 22.7%. About 120,000 SF is under construction, representing a 1.1% expansion of inventory. In the past 12 months, 24 sales have taken place. Sales have averaged $340/SF, which is also the estimated value for the submarket as a whole. Over the past three years, there have been 116 sales, which have traded for approximately $372 million. The market cap rate for Boynton/Lantana is 5.6%, moderately below its trailing three-year average of 5.9%. KEY INDICATORS Market RentVacancy RateRBACurrent Quarter Availability Rate Net Absorption SF Deliveries SF Under Construction $35.570%1,924,369Malls 0%0 0 0 $38.502.5%989,666Power Center 2.8%(4,317)0 0 $32.615.5%4,239,124Neighborhood Center 6.6%9,078 5,636 4,000 $29.742.5%579,865Strip Center 7.9%(7,203)0 36,936 $33.202.5%3,221,676General Retail 2.4%4,020 0 77,400 --0Other -0 0 0 $33.673.2%10,954,700Submarket 3.9%1,578 5,636 118,336 Forecast Average Historical Average12 MonthAnnual Trends Peak When Trough When 3.6%5.7%0.1%Vacancy Change (YOY)10.1%2009 Q4 2.1%2019 Q1 47,874120,81960.7KNet Absorption SF 458,979 2007 Q1 (177,207)2020 Q4 79,139122,56873KDeliveries SF 625,989 2007 Q4 1,195 2021 Q1 3.7%2.5%9.0%Rent Growth 9.1%2023 Q2 -6.4%2009 Q3 N/A$73.5M$125MSales Volume $168.3M 2022 Q3 $3.6M 2009 Q4 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 2 Exhibit 3 Exhibit 3 728 Leasing Boynton/Lantana Retail NET ABSORPTION, NET DELIVERIES & VACANCY VACANCY RATE 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 3 Exhibit 3 Exhibit 3 729 Leasing Boynton/Lantana Retail AVAILABILITY RATE 4 & 5 STAR MOST ACTIVE BUILDINGS IN SUBMARKET - PAST 12 MONTHS Property Name/Address Rating GLA Deals Leased SF 12 Mo Vacancy 12 Mo Net Absorp SF 8,6544880 Woolbright Rd 8,654 1 0%8,654 10,1358210-8320 Jog Rd 32,972 5 15.4%7,436 1,9251000-1080 Gateway Blvd Publix 45,518 1 2.5%1,925 1,1201015 Gateway Blvd Quantum Village 12,272 1 6.8%(3,045) 4,1711540-1550 SW 8th St Shoppes of Woolbright 4,171 1 80.0%(4,171) 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 4 Exhibit 3 Exhibit 3 730 Leasing Boynton/Lantana Retail 3 STAR MOST ACTIVE BUILDINGS IN SUBMARKET - PAST 12 MONTHS Property Name/Address Rating GLA Deals Leased SF 12 Mo Vacancy 12 Mo Net Absorp SF 4,94211300 S Military Trl 72,282 3 3.6%7,709 5,0907410 Boynton Beach Blvd Hagens Ranch Commons 43,884 2 28.6%5,417 5,240111-155 N Congress Ave Boynton Plaza 108,694 4 2.5%4,500 3,8698831-8899 Hypoluxo Rd Publix at Town Commons 73,175 1 2.1%3,869 9,1638200 S State Road 7 38,203 4 25.4%3,838 5,472457-477 Greynolds Cir 11,669 3 7.5%3,767 3,5454956-4966 Le Chalet Blvd Aberdeen Square 26,176 1 10.0%3,684 1,4844793 N Congress Ave 10,260 1 30.4%1,484 1,0003501-3557 W Boynton Beach Bl… Boulevard Plaza 12,550 1 3.2%1,481 2,715540-570 SW 18th St Sunshine Square 34,975 2 3.0%1,225 6,3276169-6185 S Jog Rd 105,550 1 6.8%666 1,4201660 S Congress Ave 7,337 2 3.9%0 27,0001701-1797 N Congress Ave Catalina Centre 145,230 1 1.1%0 1,3907427-7451 S Military Trl Spectrum Square 27,936 1 0%0 1,2003301 W Boynton Beach Blvd Paz Plaza 14,400 1 1.7%0 2,250201-250 S Ocean Blvd 54,537 1 20.8%(433) 5,6001780 N Congress Ave Shoppes 10 10,500 2 54.1%(3,037) 2,800701 N Congress Ave Shopess at Boynton 42,490 1 14.4%(3,647) 9,2064895 Windward Passage Dr Gables End Plaza 18,311 4 25.1%(6,303) 3,130320-398 N Congress Ave Boynton Commons 168,617 1 6.9%(8,852) 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 5 Exhibit 3 Exhibit 3 731 Rent Boynton/Lantana Retail MARKET RENT GROWTH (YOY) MARKET RENT PER SQUARE FEET 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 6 Exhibit 3 Exhibit 3 732 Construction Boynton/Lantana Retail DELIVERIES & DEMOLITIONS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 7 Exhibit 3 Exhibit 3 733 Construction Boynton/Lantana Retail 122,676 229,463 118,336 270,341 All-Time Annual Avg. Square Feet Delivered Square Feet Past 8 Qtrs Delivered Square Feet Next 8 Qtrs Proposed Square Feet Next 8 Qtrs PAST 8 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED PAST & FUTURE DELIVERIES IN SQUARE FEET 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 8 Exhibit 3 Exhibit 3 734 Construction Boynton/Lantana Retail RECENT DELIVERIES Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner Jan 20229910 S Jog Rd Wawa 5,636 1 Jul 2023 - -1 Mar 20224530 Lantana Rd WaWa 5,636 1 Jun 2023 The Morgan Companies Julie Heberlein2 Dec 20204880 Woolbright Rd 8,654 1 Jun 2023 Stiles Retail Group Carlene Blunt3 Feb 202111600 S Trl Building J4 6,112 1 Mar 2023 - Mack Industrial Inc.4 Feb 20222505 W Woolbright Rd Wawa 3,694 1 Feb 2023 - -5 Sep 202211500 S Military Trl 5,769 1 Jan 2023 - -6 Apr 20224400 Hypoluxo Rd Chipotle 3,000 1 Dec 2022 - L & E International Services, Inc.7 Jun 202211266 S Military Trl 6,000 1 Nov 2022 - Yevgeniy Yermakov8 Apr 20206403 W Boynton Blvd A 7,700 1 Oct 2022 - Carlyle Management Company9 Jan 20228755 Hypoluxo Rd Shoppes at Town Comm…8,013 1 Oct 2022 - -10 Mar 202211800 S Military Trl 20,000 1 Sep 2022 - -11 Jan 20228200 S State Road 7 38,203 1 Apr 2022 - Melrose Center Boynton, LLC12 Dec 20216405 W Boynton Blvd 6,200 1 Apr 2022 - Wawa, Inc.13 Apr 20206405 W Boynton Blvd E 3,500 1 Mar 2022 - Carlyle Management Company14 Apr 20206405 W Boynton Blvd Sprouts 44,448 1 Feb 2022 Mason Construction & Developm… Carlyle Management Company15 Apr 20206405 W Boynton Blvd C 3,500 1 Jan 2022 - -16 Sep 2021S Military 3,445 1 Jan 2022 - Yevgeniy Yermakov17 Sep 2021650 E Woolbright Rd Josie's Ristorante 5,905 1 Jan 2022 - -18 Sep 202110160 Lyons Rd The Learning Experience 6,000 1 Jan 2022 - -19 Jun 20219602 87th Pl S 1,548 1 Oct 2021 - Jobson S Chaves20 UNDER CONSTRUCTION Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner Jan 20234966 Le Chalet Blvd 40,000 1 Mar 2024 - -1 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 9 Exhibit 3 Exhibit 3 735 Construction Boynton/Lantana Retail UNDER CONSTRUCTION Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner Dec 20228764 Lantana Rd Merchants Walk Building A 17,364 1 Dec 2023 - Ward Real Estate LLC2 Dec 20228764 Lantana Rd Merchants Walk Building B 15,072 1 Jan 2024 - -3 Oct 20228601 Boynton Beach Blvd 15,000 2 Nov 2023 Gary Smigiel ABC Fine Wine & Spirits4 Jul 20231400 Dixie Hwy 10,000 2 Dec 2023 - -5 Apr 20238543 Boynton Beach Blvd 9,400 1 Dec 2023 - -6 Dec 20228764 Lantana Rd Merchants Walk Building C 4,500 1 Jan 2024 - -7 Oct 20181080 Gateway Blvd A'lu Mexican Cuisine 4,000 1 Sep 2023 - Olen Properties8 Jan 20224066 Lantana Rd 3,000 1 Sep 2023 - Marie Kettlene Placide9 PROPOSED Property Name/Address Rating Bldg SF Stories Start Complete Developer/Owner Aug 20230 Hypoluxo Rd 160,000 1 Aug 2024 - -1 Aug 20234361 Hypoluxo Rd Building G 45,000 1 Feb 2024 - Paul Z. Okean2 Dec 20237395-7555 Boynton Beach… Bld A 19,054 1 Dec 2024 Edgewood Properties SJC Ventures3 Dec 20237395-7555 Boynton Beach… Building E 11,142 1 Dec 2024 Edgewood Properties SJC Ventures4 Nov 20237395-7555 Boynton Beach… Building C 9,375 1 Nov 2024 Edgewood Properties SJC Ventures5 Dec 20237395-7555 Boynton Beach… Building D 9,375 1 Dec 2024 Edgewood Properties SJC Ventures6 Jul 20246455 S Jog Rd The Falls Retail Shops 5,550 1 Dec 2024 - Joel Horowitz7 Aug 20234790 N Congress Ave 4,000 1 Feb 2024 Katz & Associates MMG Equity Partners8 Dec 20237395-7555 Boynton Beach… Building B 2,845 1 Dec 2024 Edgewood Properties SJC Ventures9 Jan 20244361 Hypoluxo Rd Building F 2,500 1 Jan 2025 - -10 Dec 20234361 Hypoluxo Rd 1,500 1 Dec 2024 - -11 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 10 Exhibit 3 Exhibit 3 736 Sales Boynton/Lantana Retail Investors have been especially active in the capital markets in Boynton/Lantana, making it one of the most heavily traded submarkets in the region over the past several years. Annual sales volume has averaged $96.5 million over the past five years, including a 12-month high of $168 million over that stretch. The recorded transaction volume here reached $120 million in the past year. The general retail sector drove that volume. Market pricing, based on the estimated price movement of all properties in the submarket, sat at $343/SF during the third quarter of 2023. That market price is up compared to the third quarter from last year, but the level still falls far short of the average for the region. The market cap rate has shrunk since last year to 5.6%. That is the lowest cap rate in the past five years, which is the same as the metro's average. SALES VOLUME & MARKET SALE PRICE PER SF 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 11 Exhibit 3 Exhibit 3 737 Sales Boynton/Lantana Retail MARKET CAP RATE 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 12 Exhibit 3 Exhibit 3 738 Sales Past 12 Months Boynton/Lantana Retail 25 5.5%$345 24.6% Sale Comparables Avg. Cap Rate Avg. Price/SF Avg. Vacancy At Sale SALE COMPARABLE LOCATIONS SALE COMPARABLES SUMMARY STATISTICS Sales Attributes Low Average Median High Sale Price $400,000 $5,679,827 $2,635,000 $38,867,400 Price/SF $88 $345 $542 $1,887 Cap Rate 4.1%5.5%4.1%8.3% Time Since Sale in Months 0.2 5.4 5.2 11.7 Property Attributes Low Average Median High Building SF 640 14,947 4,299 84,180 Stories 1 1 1 2 Typical Floor SF 640 14,736 3,872 84,180 Vacancy Rate At Sale 0%24.6%0%100% Year Built 1929 1988 1979 2022 Star Rating 2.7 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 13 Exhibit 3 Exhibit 3 739 Sales Past 12 Months Boynton/Lantana Retail Property Name - Address Rating Yr Built Bldg SF Vacancy Price Price/SF Property Sale Date Sale Cap Rate RECENT SIGNIFICANT SALES -1 11300 S Military Trl 2021 72,282 2.8%$38,867,400 $5382/26/2023 - -2 Sprouts 2022 44,448 0%$27,098,650 $6106405 W Boynton Blvd 9/8/2022 - -3 Sears 1976 84,180 100%$7,666,335 $911201 S Dixie Hwy 7/26/2023 - -4 S Military 2022 3,445 0%$6,500,000 $1,8872/21/2023 4.1% -5 Lantana Village Square 1976 69,131 5.2%$6,075,673 $881301-1499 S Dixie Hwy 7/26/2023 - -6 Truist Bank 1964 12,018 0%$6,000,000 $499315 S Federal Hwy 1/3/2023 - -7 A 2022 7,700 0%$5,901,350 $7666403 W Boynton Blvd 9/8/2022 - -8 Chipotle 2022 3,000 0%$3,121,200 $1,0404400 Hypoluxo Rd 3/20/2023 - -9 8880 Lantana Rd 1986 1,620 0%$3,000,000 $1,8527/11/2023 - -10 2250 W Woolbright Rd 1980 4,299 0%$3,000,000 $6982/13/2023 - -11 Family Dollar 2013 9,200 0%$2,720,000 $2961199 Hypoluxo Rd 6/27/2023 - -12 1300 Lantana Rd 1964 15,990 0%$2,550,000 $15912/12/2022 - -13 11266 S Military Trl 2022 6,000 0%$2,132,600 $3552/26/2023 - -14 7-Eleven 1979 2,496 0%$2,100,000 $84111190 S Military Trl 4/18/2023 - -15 101 N Federal Hwy 1929 1,792 0%$2,000,000 $1,1169/16/2022 - -16 1290 Lantana Rd 1973 2,195 0%$1,200,000 $54711/30/2022 - -17 400 Building 1973 4,752 0%$1,140,000 $240400 S Federal Hwy 10/14/2022 - -18 457-477 Greynolds Cir 1982 11,669 0%$1,057,992 $917/26/2023 - -19 Dunkin'1981 3,000 0%$975,000 $3251101 S Dixie Hwy 2/14/2023 - -20 9602 87th Pl S 2021 1,548 0%$900,000 $5813/23/2023 - 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 14 Exhibit 3 Exhibit 3 740 Supply & Demand Trends Boynton/Lantana Retail OVERALL SUPPLY & DEMAND Net AbsorptionInventory % of Inv Construction RatioSFSF Growth % Growth SFYear 2027 57,664 0.5%0.4%41,701 1.411,243,321 2026 55,127 0.5%0.4%40,297 1.411,185,657 2025 48,987 0.4%0.5%54,571 0.911,130,530 2024 108,452 1.0%0.7%81,769 1.311,081,543 2023 53,892 0.5%-0.1%(11,945)-10,973,091 YTD 35,501 0.3%-0.1%(10,318)-10,954,700 2022 155,914 1.4%3.2%345,978 0.510,919,199 2021 106,326 1.0%0.6%59,235 1.810,763,285 2020 1,195 0%-1.7%(177,207)-10,656,959 2019 153,656 1.5%2.7%289,925 0.510,655,764 2018 15,011 0.1%0.1%11,097 1.410,502,108 2017 3,491 0%1.1%119,111 010,487,097 2016 20,342 0.2%1.2%124,588 0.210,483,606 2015 26,874 0.3%1.1%110,011 0.210,463,264 2014 2,198 0%-0.3%(35,658)-10,436,390 2013 33,023 0.3%0.4%41,957 0.810,434,192 2012 67,265 0.7%2.1%222,011 0.310,401,169 2011 7,356 0.1%0.7%77,450 0.110,333,904 MALLS SUPPLY & DEMAND Net AbsorptionInventory % of Inv Construction RatioSFSF Growth % Growth SFYear 2027 9,677 0.5%0.4%8,719 1.11,953,000 2026 9,263 0.5%0.4%8,393 1.11,943,323 2025 8,243 0.4%0.4%6,845 1.21,934,060 2024 2,098 0.1%0.1%1,336 1.61,925,817 2023 (650)0%-0.2%(3,306)-1,923,719 YTD 0 0%---1,924,369 2022 0 0%0.6%11,638 01,924,369 2021 0 0%-0.2%(4,461)-1,924,369 2020 0 0%0.2%3,323 01,924,369 2019 0 0%-0.5%(9,350)-1,924,369 2018 0 0%0.1%1,117 01,924,369 2017 0 0%-0.1%(2,267)-1,924,369 2016 0 0%0.5%10,372 01,924,369 2015 0 0%1.1%20,545 01,924,369 2014 0 0%-0.8%(14,983)-1,924,369 2013 0 0%0.1%1,655 01,924,369 2012 0 0%0.4%8,525 01,924,369 2011 0 0%0.7%12,642 01,924,369 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 15 Exhibit 3 Exhibit 3 741 Supply & Demand Trends Boynton/Lantana Retail POWER CENTER SUPPLY & DEMAND Net AbsorptionInventory % of Inv Construction RatioSFSF Growth % Growth SFYear 2027 (1,374)-0.1%-0.2%(1,918)-983,883 2026 (1,371)-0.1%-0.2%(1,882)-985,257 2025 (1,360)-0.1%-0.1%(964)-986,628 2024 (1,357)-0.1%-0.1%(1,076)-987,988 2023 (321)0%-1.5%(15,314)-989,345 YTD 0 0%-1.3%(13,270)-989,666 2022 0 0%2.7%26,462 0989,666 2021 0 0%1.1%11,363 0989,666 2020 0 0%-2.0%(19,401)-989,666 2019 0 0%9.5%94,324 0989,666 2018 0 0%0%(96)-989,666 2017 0 0%4.3%42,944 0989,666 2016 0 0%-3.9%(38,564)-989,666 2015 0 0%0.8%7,682 0989,666 2014 0 0%-2.0%(19,753)-989,666 2013 0 0%-0.2%(1,815)-989,666 2012 0 0%1.0%10,160 0989,666 2011 0 0%0.3%2,732 0989,666 NEIGHBORHOOD CENTER SUPPLY & DEMAND Net AbsorptionInventory % of Inv Construction RatioSFSF Growth % Growth SFYear 2027 10,691 0.3%0%2,005 5.34,271,730 2026 10,137 0.2%0%1,250 8.14,261,039 2025 8,632 0.2%0.1%4,855 1.84,250,902 2024 546 0%-0.1%(4,634)-4,242,270 2023 14,348 0.3%-0.4%(17,593)-4,241,724 YTD 11,748 0.3%-0.3%(12,927)-4,239,124 2022 59,148 1.4%4.2%176,915 0.34,227,376 2021 48,100 1.2%-0.4%(16,393)-4,168,228 2020 0 0%-2.3%(96,639)-4,120,128 2019 100,661 2.5%2.4%97,103 1.04,120,128 2018 0 0%0.1%3,234 04,019,467 2017 0 0%1.6%64,726 04,019,467 2016 14,979 0.4%2.6%103,789 0.14,019,467 2015 0 0%3.0%120,681 04,004,488 2014 0 0%-0.2%(8,806)-4,004,488 2013 4,127 0.1%0.5%18,221 0.24,004,488 2012 17,265 0.4%3.6%144,190 0.14,000,361 2011 8,814 0.2%0.9%35,425 0.23,983,096 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 16 Exhibit 3 Exhibit 3 742 Supply & Demand Trends Boynton/Lantana Retail STRIP CENTER SUPPLY & DEMAND Net AbsorptionInventory % of Inv Construction RatioSFSF Growth % Growth SFYear 2027 6,137 1.0%0.8%5,100 1.2635,706 2026 5,889 0.9%0.8%4,957 1.2629,569 2025 5,313 0.9%1.5%9,296 0.6623,680 2024 38,697 6.7%4.9%30,413 1.3618,367 2023 (195)0%-0.8%(4,621)-579,670 YTD 0 0%-1.6%(9,345)-579,865 2022 8,013 1.4%3.0%17,657 0.5579,865 2021 9,929 1.8%5.3%30,479 0.3571,852 2020 0 0%-1.1%(6,249)-561,923 2019 11,996 2.2%2.2%12,582 1.0561,923 2018 0 0%0.2%1,370 0549,927 2017 0 0%0.5%2,986 0549,927 2016 0 0%5.6%30,839 0549,927 2015 0 0%-4.9%(27,171)-549,927 2014 0 0%0.5%2,897 0549,927 2013 11,381 2.1%0.5%2,942 3.9549,927 2012 0 0%1.1%5,943 0538,546 2011 0 0%3.9%20,804 0538,546 GENERAL RETAIL SUPPLY & DEMAND Net AbsorptionInventory % of Inv Construction RatioSFSF Growth % Growth SFYear 2027 32,533 1.0%0.8%27,795 1.23,399,002 2026 31,209 0.9%0.8%27,579 1.13,366,469 2025 28,159 0.9%1.0%34,539 0.83,335,260 2024 68,468 2.1%1.7%55,730 1.23,307,101 2023 40,710 1.3%0.9%28,889 1.43,238,633 YTD 23,753 0.7%0.8%25,224 0.93,221,676 2022 88,753 2.9%3.5%113,306 0.83,197,923 2021 48,297 1.6%1.2%38,247 1.33,109,170 2020 1,195 0%-1.9%(58,241)-3,060,873 2019 40,999 1.4%3.1%95,266 0.43,059,678 2018 15,011 0.5%0.2%5,472 2.73,018,679 2017 3,491 0.1%0.4%10,722 0.33,003,668 2016 5,363 0.2%0.6%18,152 0.33,000,177 2015 26,874 0.9%-0.4%(11,726)-2,994,814 2014 2,198 0.1%0.2%4,987 0.42,967,940 2013 17,515 0.6%0.7%20,954 0.82,965,742 2012 50,000 1.7%1.8%53,193 0.92,948,227 2011 (1,458)-0.1%0.2%5,847 -2,898,227 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 17 Exhibit 3 Exhibit 3 743 Rent & Vacancy Boynton/Lantana Retail OVERALL RENT & VACANCY Market Rent Per SF Index % Growth Vs Hist PeakYear Vacancy SF Percent Ppts Chg 2027 175 1.8%21.6%$38.54 420,186 3.7%0.1% 2026 172 2.3%19.5%$37.85 405,412 3.6%0.1% 2025 168 3.0%16.8%$37 391,670 3.5%-0.1% 2024 163 3.7%13.3%$35.90 398,323 3.6%0.2% 2023 157 9.2%9.2%$34.61 371,402 3.4%0.6% YTD 153 9.0%6.3%$33.67 351,303 3.2%0.4% 2022 144 7.2%0%$31.68 305,484 2.8%-1.8% 2021 134 5.9%-6.8%$29.54 495,548 4.6%0.4% 2020 127 4.3%-11.9%$27.91 448,457 4.2%1.7% 2019 121 3.8%-15.6%$26.75 270,055 2.5%-1.3% 2018 117 4.6%-18.7%$25.76 406,324 3.9%0% 2017 112 4.5%-22.3%$24.63 402,410 3.8%-1.1% 2016 107 5.7%-25.6%$23.57 518,030 4.9%-1.0% 2015 101 5.6%-29.6%$22.30 622,276 5.9%-0.8% 2014 96 3.2%-33.4%$21.11 705,413 6.8%0.4% 2013 93 3.2%-35.4%$20.46 667,557 6.4%-0.1% 2012 90 1.1%-37.4%$19.83 676,491 6.5%-1.5% 2011 89 -1.6%-38.1%$19.62 831,237 8.0%-0.7% MALLS RENT & VACANCY Market Rent Per SF Index % Growth Vs Hist PeakYear Vacancy SF Percent Ppts Chg 2027 155 2.0%22.9%$41.08 6,570 0.3%0% 2026 152 2.5%20.4%$40.27 5,639 0.3%0% 2025 148 3.3%17.5%$39.29 4,798 0.2%0.1% 2024 143 3.9%13.8%$38.05 3,428 0.2%0% 2023 138 9.5%9.5%$36.61 2,659 0.1%0.1% YTD 134 8.6%6.4%$35.57 0 0%0% 2022 126 4.6%0%$33.44 0 0%-0.6% 2021 120 4.6%-4.4%$31.96 11,638 0.6%0.2% 2020 115 4.2%-8.6%$30.55 7,177 0.4%-0.2% 2019 110 2.8%-12.3%$29.31 10,500 0.5%0.5% 2018 107 2.8%-14.8%$28.50 1,150 0.1%-0.1% 2017 104 4.6%-17.1%$27.73 2,267 0.1%0.1% 2016 100 5.4%-20.7%$26.51 0 0%-0.5% 2015 95 4.8%-24.8%$25.15 10,372 0.5%-1.1% 2014 90 1.6%-28.2%$24 30,917 1.6%0.8% 2013 89 1.9%-29.4%$23.61 15,934 0.8%-0.1% 2012 87 -0.6%-30.7%$23.17 17,589 0.9%-0.4% 2011 88 -2.3%-30.3%$23.30 26,114 1.4%-0.7% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 18 Exhibit 3 Exhibit 3 744 Rent & Vacancy Boynton/Lantana Retail POWER CENTER RENT & VACANCY Market Rent Per SF Index % Growth Vs Hist PeakYear Vacancy SF Percent Ppts Chg 2027 176 1.9%22.5%$44.20 26,910 2.7%0.1% 2026 173 2.4%20.2%$43.38 26,303 2.7%0.1% 2025 169 3.1%17.5%$42.37 25,706 2.6%0% 2024 164 3.8%13.9%$41.09 26,072 2.6%0% 2023 158 9.8%9.8%$39.60 26,282 2.7%1.5% YTD 153 9.3%6.7%$38.50 24,551 2.5%1.3% 2022 144 7.2%0%$36.08 11,281 1.1%-2.7% 2021 134 5.5%-6.7%$33.66 37,743 3.8%-1.1% 2020 127 3.8%-11.5%$31.91 49,106 5.0%2.0% 2019 122 3.6%-14.8%$30.74 29,705 3.0%-9.5% 2018 118 4.9%-17.7%$29.68 124,029 12.5%0% 2017 113 4.2%-21.6%$28.30 123,933 12.5%-4.3% 2016 108 5.4%-24.7%$27.16 166,877 16.9%3.9% 2015 103 5.7%-28.6%$25.77 128,313 13.0%-0.8% 2014 97 3.1%-32.4%$24.39 135,995 13.7%2.0% 2013 94 3.9%-34.5%$23.64 116,242 11.7%0.2% 2012 91 2.1%-36.9%$22.75 114,427 11.6%-1.0% 2011 89 -1.0%-38.3%$22.27 124,587 12.6%-0.3% NEIGHBORHOOD CENTER RENT & VACANCY Market Rent Per SF Index % Growth Vs Hist PeakYear Vacancy SF Percent Ppts Chg 2027 177 1.7%21.4%$37.12 266,056 6.2%0.2% 2026 174 2.2%19.4%$36.50 257,675 6.0%0.2% 2025 171 2.9%16.8%$35.72 249,077 5.9%0.1% 2024 166 3.6%13.5%$34.71 245,445 5.8%0.1% 2023 160 9.6%9.6%$33.51 240,239 5.7%0.7% YTD 156 9.2%6.7%$32.61 232,932 5.5%0.6% 2022 146 7.3%0%$30.57 208,257 4.9%-2.9% 2021 136 5.9%-6.8%$28.49 326,024 7.8%1.5% 2020 128 4.2%-12.0%$26.90 261,531 6.3%2.3% 2019 123 3.9%-15.6%$25.80 164,892 4.0%0% 2018 119 5.5%-18.8%$24.83 161,334 4.0%-0.1% 2017 112 4.5%-23.0%$23.54 164,568 4.1%-1.6% 2016 108 5.6%-26.3%$22.52 229,294 5.7%-2.2% 2015 102 6.1%-30.2%$21.33 318,104 7.9%-3.0% 2014 96 3.0%-34.3%$20.09 438,785 11.0%0.2% 2013 93 3.3%-36.2%$19.51 429,979 10.7%-0.4% 2012 90 1.6%-38.2%$18.88 444,073 11.1%-3.2% 2011 89 -1.6%-39.2%$18.59 570,998 14.3%-0.7% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 19 Exhibit 3 Exhibit 3 745 Rent & Vacancy Boynton/Lantana Retail STRIP CENTER RENT & VACANCY Market Rent Per SF Index % Growth Vs Hist PeakYear Vacancy SF Percent Ppts Chg 2027 184 1.9%21.3%$34.11 15,796 2.5%0.1% 2026 181 2.3%19.1%$33.49 14,868 2.4%0.1% 2025 177 3.1%16.3%$32.72 14,028 2.2%-0.7% 2024 171 3.8%12.8%$31.73 18,128 2.9%1.2% 2023 165 8.7%8.7%$30.57 9,818 1.7%0.8% YTD 161 8.9%5.8%$29.74 14,730 2.5%1.6% 2022 152 8.1%0%$28.12 5,385 0.9%-1.7% 2021 140 6.1%-7.5%$26.02 15,029 2.6%-3.7% 2020 132 5.1%-12.8%$24.53 35,579 6.3%1.1% 2019 126 5.4%-17.0%$23.35 29,330 5.2%-0.2% 2018 120 4.5%-21.2%$22.15 29,916 5.4%-0.2% 2017 114 3.7%-24.6%$21.20 31,286 5.7%-0.5% 2016 110 5.7%-27.3%$20.45 34,272 6.2%-5.6% 2015 104 6.2%-31.2%$19.35 65,111 11.8%4.9% 2014 98 5.5%-35.2%$18.21 37,940 6.9%-0.5% 2013 93 2.2%-38.6%$17.27 40,837 7.4%1.4% 2012 91 0.8%-39.9%$16.90 32,398 6.0%-1.1% 2011 91 -1.9%-40.4%$16.77 38,341 7.1%-3.9% GENERAL RETAIL RENT & VACANCY Market Rent Per SF Index % Growth Vs Hist PeakYear Vacancy SF Percent Ppts Chg 2027 185 1.8%20.9%$38.01 104,854 3.1%0.1% 2026 182 2.3%18.7%$37.33 100,927 3.0%0.1% 2025 178 3.1%16.1%$36.49 98,061 2.9%-0.2% 2024 172 3.7%12.6%$35.41 105,250 3.2%0.3% 2023 166 8.6%8.6%$34.13 92,404 2.9%0.3% YTD 162 9.0%5.6%$33.20 79,090 2.5%-0.1% 2022 153 8.7%0%$31.44 80,561 2.5%-0.9% 2021 141 6.7%-8.0%$28.92 105,114 3.4%0.3% 2020 132 4.6%-13.8%$27.10 95,064 3.1%1.9% 2019 126 4.3%-17.6%$25.91 35,628 1.2%-1.8% 2018 121 4.5%-21.0%$24.84 89,895 3.0%0.3% 2017 116 4.6%-24.4%$23.77 80,356 2.7%-0.2% 2016 111 6.1%-27.7%$22.72 87,587 2.9%-0.4% 2015 104 5.5%-31.9%$21.41 100,376 3.4%1.3% 2014 99 4.2%-35.4%$20.30 61,776 2.1%-0.1% 2013 95 3.7%-38.0%$19.48 64,565 2.2%-0.1% 2012 91 1.3%-40.3%$18.78 68,004 2.3%-0.1% 2011 90 -1.1%-41.0%$18.54 71,197 2.5%-0.3% 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 20 Exhibit 3 Exhibit 3 746 Sale Trends Boynton/Lantana Retail OVERALL SALES Completed Transactions (1) Turnover Avg Price/SFDealsVolumeYear Market Pricing Trends (2) Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate 2027 -----196-$354.51 6.3% 2026 -----181-$326.53 6.7% 2025 -----173-$312 6.8% 2024 -----166-$300.27 6.9% 2023 -----188-$340.15 5.8% YTD $85.1M17 2.6%$297.72$5,316,638 1905.5%$342.73 5.6% 2022 $151.3M29 4.2%$477.12$6,576,739 1805.4%$324.30 5.7% 2021 $124.9M52 7.3%$282.24$3,047,530 1616.3%$290.04 5.9% 2020 $39.4M39 1.1%$449.76$1,515,494 1525.0%$273.80 6.1% 2019 $96.1M29 5.0%$183.30$3,845,220 1425.6%$255.82 6.3% 2018 $38.7M30 4.7%$120.79$1,933,473 1405.9%$253.02 6.3% 2017 $63.2M49 7.9%$159.05$2,431,858 1356.6%$242.97 6.3% 2016 $75.6M29 2.6%$293.03$3,598,823 1306.5%$235.36 6.3% 2015 $75M32 3.6%$201.60$2,420,415 1246.7%$224.52 6.4% 2014 $37.7M24 3.2%$147.61$1,887,445 1127.6%$202.21 6.7% 2013 $38.6M43 3.7%$141.63$1,483,655 996.7%$179.32 7.1% 2012 $104.9M27 5.7%$178.64$4,197,126 967.2%$173.62 7.2% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. MALLS SALES Completed Transactions (1) Turnover Avg Price/SFDealsVolumeYear Market Pricing Trends (2) Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate 2027 -----186-$332.60 6.1% 2026 -----171-$305.89 6.5% 2025 -----163-$291.77 6.6% 2024 -----157-$280.28 6.7% 2023 -----177-$316.65 5.6% YTD -----178-$318.60 5.4% 2022 $01 5.1%--169-$302.13 5.5% 2021 -----152-$271.91 5.7% 2020 -----144-$257.10 5.9% 2019 $4.5M1 5.2%$45.19$4,500,000 135-$241.25 6.1% 2018 -----135-$240.35 6.0% 2017 -----130-$231.38 6.1% 2016 -----126-$224.36 6.1% 2015 -----120-$214.63 6.1% 2014 -----109-$194.19 6.5% 2013 -----97-$173.68 6.8% 2012 -----95-$169.91 6.9% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 21 Exhibit 3 Exhibit 3 747 Sale Trends Boynton/Lantana Retail POWER CENTER SALES Completed Transactions (1) Turnover Avg Price/SFDealsVolumeYear Market Pricing Trends (2) Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate 2027 -----188-$352.23 6.1% 2026 -----173-$324.53 6.5% 2025 -----165-$310.04 6.6% 2024 -----159-$298.34 6.7% 2023 -----180-$337.53 5.6% YTD -----181-$339.79 5.4% 2022 -----172-$322.30 5.5% 2021 $01 0.7%--153-$286.74 5.8% 2020 -----145-$271.89 5.9% 2019 $58.8M7 30.2%$196.99$8,400,000 135-$253.91 6.2% 2018 $7.8M2 19.5%$40.76$3,923,421 135-$252.81 6.1% 2017 -----129-$242.58 6.2% 2016 -----126-$236.54 6.2% 2015 $150K1 2.8%$5.36$150,000 120-$224.81 6.2% 2014 $01 0.7%--108-$202.45 6.6% 2013 -----96-$180.99 7.0% 2012 $5.4M2 9.3%$58.72$2,707,000 93-$175.20 7.1% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. NEIGHBORHOOD CENTER SALES Completed Transactions (1) Turnover Avg Price/SFDealsVolumeYear Market Pricing Trends (2) Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate 2027 -----181-$309.62 6.5% 2026 -----167-$286.46 6.9% 2025 -----160-$274.29 7.1% 2024 -----154-$264.43 7.1% 2023 -----174-$297.26 6.1% YTD $15.8M4 4.0%$93.91$3,943,750 175-$298.91 5.9% 2022 $109.6M8 5.4%$482.16$13,700,000 1666.4%$283.57 6.0% 2021 $88.5M19 11.2%$303.83$6,805,532 1497.2%$255.04 6.2% 2020 $14.7M4 0.4%$997.02$3,672,527 1444.8%$247.20 6.3% 2019 $5.3M4 0.4%$332.91$1,316,250 1355.0%$231.34 6.5% 2018 $9.9M4 4.4%$378.21$9,900,000 1366.1%$233.10 6.4% 2017 $50.2M26 18.8%$139.87$3,584,879 1317.1%$224.97 6.4% 2016 $37.7M4 3.2%$297.99$12,580,245 1286.7%$219.23 6.4% 2015 $12.8M2 1.5%$215.45$6,399,000 122-$209 6.5% 2014 $17.9M6 5.1%$123.68$3,571,631 111-$189.82 6.8% 2013 $11.2M19 6.5%$71.76$1,592,857 994.3%$168.90 7.2% 2012 $85M8 9.4%$226.90$10,622,172 966.8%$164.23 7.3% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 22 Exhibit 3 Exhibit 3 748 Sale Trends Boynton/Lantana Retail STRIP CENTER SALES Completed Transactions (1) Turnover Avg Price/SFDealsVolumeYear Market Pricing Trends (2) Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate 2027 -----218-$370.54 6.1% 2026 -----200-$340.40 6.5% 2025 -----191-$324.92 6.6% 2024 -----184-$312.46 6.7% 2023 -----209-$356.17 5.7% YTD -----211-$359.73 5.4% 2022 $3.7M1 2.5%$256.94$3,700,000 198-$337.07 5.5% 2021 -----173-$294.62 5.8% 2020 $933.3K2 2.4%$70.51$466,667 159-$270.43 6.0% 2019 $3.1M1 1.8%$305.15$3,051,500 1476.8%$250.22 6.3% 2018 $9.6M4 11.8%$148.72$2,404,275 139-$237.10 6.4% 2017 $02 0.7%--133-$226.95 6.5% 2016 $5.1M1 3.5%$266.96$5,105,000 129-$219.56 6.5% 2015 $15M4 13.0%$210.24$3,750,000 1237.6%$208.98 6.5% 2014 $12.1M4 9.0%$245.26$3,034,375 1095.7%$186.29 6.8% 2013 $8M4 8.6%$168.76$1,999,500 977.0%$164.30 7.2% 2012 $5.4M4 13.9%$71.61$1,338,375 94-$159.45 7.3% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. GENERAL RETAIL SALES Completed Transactions (1) Turnover Avg Price/SFDealsVolumeYear Market Pricing Trends (2) Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate 2027 -----219-$422.69 6.1% 2026 -----201-$388.13 6.5% 2025 -----192-$370.46 6.7% 2024 -----184-$356.31 6.7% 2023 -----210-$406.82 5.7% YTD $69.3M13 3.7%$588.46$5,774,267 2125.5%$410.86 5.5% 2022 $38M19 3.6%$504.01$2,711,786 2005.2%$387.81 5.6% 2021 $36.5M32 10.0%$240.75$1,302,743 1795.8%$345.78 5.8% 2020 $23.8M33 3.0%$398.73$1,188,970 1655.6%$318.97 6.0% 2019 $24.5M16 3.7%$243.77$2,042,833 1545.3%$297.41 6.2% 2018 $11.3M20 2.1%$307.25$869,655 1495.8%$289.06 6.2% 2017 $13M21 2.2%$336.65$1,086,667 1435.7%$276 6.3% 2016 $32.7M24 4.2%$291.87$1,925,267 1376.3%$265.11 6.3% 2015 $47.1M25 7.2%$220.60$1,961,870 1316.3%$253.06 6.4% 2014 $7.8M13 2.5%$125.33$704,840 1178.8%$225.72 6.8% 2013 $19.4M20 2.7%$279.13$1,295,135 1037.8%$198.32 7.2% 2012 $9.2M13 1.7%$199.98$834,842 987.7%$190.04 7.3% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 23 Exhibit 3 Exhibit 3 749 TIRFA Term Sheet January 10, 2024 Following are terms pursuant to which a Tax Increment Revenue Financing Agreement (“TIRFA”) will be drafted and executed between BB1 Development LLC (“Developer”) and the Boynton Beach Community Redevelopment Agency (“BBCRA”). Project: Developer is developing the Project, a mixed-use development including 371 residential units as well as approximately 25,000 SF of retail/commercial space. The Project will add thousands of permanent and temporary jobs as well as millions of dollars in benefits to the City of Boynton Beach as outlined in the report by Fishkind Litigation Services. Open Space: The Project has approximately 21,000 SF of green space and 36,000 SF of sidewalks and paved areas including a public plaza with outdoor seating connecting to the commercial space, accounting for over 35% of the total site area. Residential Units: Of the 371 total units, over 200 are housing units below 750 SF, which is a category of housing encouraged by the Boynton Beach zoning code for the purpose of providing a broader range of housing attainable at different income levels. Energy Efficiency: The Project is incorporating green elements into the design such as energy efficient air conditioners, cool roof pavers, energy efficient LED lighting fixtures and 100% Energy Star rated appliances. Community Outreach: Developer will be partner with a local community outreach partner in order to coordinate on issues pertaining to employment of City residents and jobs. BB1 and the community outreach partner will host a job fair, when feasible give priority to qualified job applicants to participate in the construction of the Project and use good faith efforts to offer permanent job positions resulting from the Project to qualified City residents. Public Parking: BB1 received feedback from members of the public and local neighborhood groups/associations to help accommodate additional parking in downtown Boynton Beach. BB1 worked with its consultants to identify an additional 32 parking spaces above the approved number of spaces. Rather than reduce the garage size by this number of spaces and achieve cost savings, BB1 will provide these spaces for public use, together with an additional 58 of its existing commercial spaces which it will convert to public spaces, 750 for a total of 90 public parking spaces (the “New Public Parking Spaces”). After this dedication, BB1 will continue to have 70 parking spaces available for dedicated commercial use, in addition to residential/visitor only parking spaces. BB1 will be responsible for installing, managing and metering the New Public Parking Spaces and will retain such parking revenue. Infrastructure: Developer shall complete the public infrastructure items as shown in Exhibit A. Construction Start: Developer agrees to commence construction of the Project with two (2) years of the effective date of the TIRFA. Annual Report: Developer shall provide an annual performance report for the Project to the BBCRA from commencement of construction through TCO. Tax Increment Financing: Commencing upon the temporary certificate of complete (“TCO”), Developer will receive an annual refund equal to 95% of the total tax revenue generated by the project for a fifteen (15) year term, not to exceed a total of $11.5 million (the “TIRFA Amount”). Assignability: This Agreement may only be assigned by the Developer to record owners of the Property with the prior written consent of the CRA, which consent shall not be unreasonably withheld. After substantial completion of the Project, this Agreement may be transferred by the Developer; provided, however, that any assignee thereto shall specifically assume all of the obligations of the Developer under this Agreement. Termination: The TIRFA shall automatically terminate upon the cap of $11.5 million being reached or within two (2) years of the effective date of the TIRFA if Developer has failed to commence construction. Waiver/Indemnification: The BBCRA will not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the Development of the Project. Developer shall also indemnify, save and hold harmless the BBCRA, its agents or its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed or recovered against the BBCRA. 751 1 TAX INCREMENT REVENUE FUNDING AGREEMENT This Tax Increment Revenue Funding Agreement (hereinafter “Agreement”) entered into as of the _____ day of _______________, 2024, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as “CRA”), with a business address of 100 E. Ocean Avenue, Boynton Beach, Florida 33435, and BB1 DEVELOPMENT, LLC, a Delaware limited liability company, with a business address of 888 Biscayne Boulevard, Suite 101, Miami, Florida 33132 (hereinafter referred to as the “Developer”). RECITALS WHEREAS, Developer owns the property located at 114 and 222 North Federal Highway, Boynton Beach, Florida (“Property”) and intends to construct within the Property a new mixed-use development comprised of 371 multi-family units with related amenities and approximately 25,000 square feet of commercial space as depicted in the Site Plan attached hereto as Exhibit “A” (hereinafter referred to as the “Project”); and WHEREAS, the Property is located within the CRA Downtown Masterplan; and WHEREAS, in an effort to provide the many public benefits to the public, Developer has submitted that certain proposal dated January 10, 2024, related to the Project, attached as Exhibit “B” (hereafter referred to as the “Proposal”); and WHEREAS, the CRA has determined that the Project furthers the Boynton Beach Community Redevelopment Plan; and WHEREAS, Developer has the knowledge, ability, skill, and resources to effectuate the construction and development of the Project; and WHEREAS, the CRA has determined that a public-private partnership in which the CRA provides Tax Increment Revenue Funding for the Project will further the goals and objectives of the Community Redevelopment Plan; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties hereby acknowledge, the Parties Agree as follows: 752 2 Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings, which shall apply to words in both the singular and plural forms of such words: 2.1. “Base Year” means the base year for determining Tax Increment Revenue from the Project. 2.2. “Certificate of Occupancy” means the certificate issued by the City pursuant to the City of Boynton Beach Building and Zoning Code indicating that a building or structure complies with all applicable City of Boynton Beach Building and Zoning Code requirements and that the same may be used for the purposes stated therein. 2.3. “City” means the City of Boynton Beach, Florida. 2.4. “Commencement of Construction” or “Commence Construction” means obtaining an official permit in hand for any of the construction activities contained herein and beginning to actually demolish, excavate or prepare the site for development of the Project in accordance with the City Code and continuing until completion of construction of the P roject as applicable in accordance with the Florida Building Code. 2.5. “Community Outreach Partner” means the for-profit or non-profit group or organization selected by Developer with whom Developer shall coordinate on the issues and obligations in this Agreement pertaining to employment of City residents and jobs for Locally Owned Small Businesses. 2.6. “Contractor” means a general contractor, a subcontractor or any other business entering into a contract with the Developer related to the construction of the Project or part thereof. 2.7. "Effective Date" shall mean the date the last party to this Agreement executes this Agreement. 2.8. “Good Faith Effort” is considered to have been made when the respective parties have used reasonable means to comply with the associated directives and/or provisions set forth in this Agreement. 2.9. “Grey Shell” means an unfinished interior, lacking heating, ventilating, air conditioning, lighting, plumbing, ceilings, elevators, interior walls, etc. and ready for tenant improvements. 2.10. “Locally Owned Small Businesses” means any business that is wholly owned by individuals who reside in the City. If a business is owned by a corporation, then the corporation must be wholly owned by individuals who reside in the City. If the business is owned by a 753 3 partnership or limited liability company, then at least 20% of its partners or members must reside in the City. 2.11 “Parking Improvements” means ninety (90) public parking spaces restricted for the use by the public in accordance with Paragraph 3.1.1(c) below. 2.12. “Pledged Project Increment Revenue” means an amount calculated by multiplying Tax Increment Revenue from the Project by agreed upon percentage factor as provided for in this Agreement. 2.13. “Property” means the property subject to this Agreement upon which the Project shall be developed as more particularly described in Exhibit “C,” hereto. 2.14. "Site Plan" shall mean the approved Site Plan attached hereto as Exhibit “A,” approved by the City of Boynton Beach, file # MSPM 23-003. Section 3. Developer’s Obligations and Covenants. 3.1 Construction of the Project. Developer agrees to Commence Construction of the Project within two (2) years of the Effective Date of this Agreement. 3.1.1 The Project shall conform to the Site Plan and shall include the following, which shall hereinafter be referred to as “Improvements”: a. Developer shall construct 371 multi-family residential units with related amenities. b. Developer shall construct approximately 25,000 square feet of commercial/retail space; c. Developer shall construct Parking Improvements, conceptually depicted on Exhibit “D,” hereto ("Public Parking") that shall be restricted for public use and that shall not be available to the residential units. The Parking Improvements may consist of structured parking, surface parking, valet parking, mechanical parking, shared parking or any other means as allowed under local city ordinance. Upon completion of the Public Parking, Developer and the CRA shall enter into a Parking Management Agreement to establish the maintenance responsibilities of the CRA for the Public Parking. If a Parking Management Agreement is not negotiated and executed by the Parties within one year of the completion of construction of the Public Parking, either party may request binding arbitration to complete the terms of the Agreement. Notwithstanding the foregoing, Developer will be responsible for managing and metering the Public Parking and all revenue derived from such metering shall be retained as revenue by Developer. 754 4 d. Construction of the multi-family residential units for the Project shall be in compliance with the following green building construction items: • All the air conditioners will be Energy Star qualified with a minimum of SEER 16; • Provide roofing materials with a SRI 75 for our low-sloped roofs for a minimum of 75% of the roof above the parking and the residential parts; • Provide energy efficient LED lighting fixtures for the building and all the interior spaces; and • Provide 100% Energy Star appliances within the building. e. Prior to and during the construction of the Project, the Developer shall: • Hire a job placement consultant during the construction period of this Agreement; • Host a job fair; • When qualified and competitive, Locally Owned Small Businesses shall be given priority, provided such businesses are available and responsive; • Include in all contracts with Contractors requirements that the Contractors use Good Faith Efforts to hire and train City residents to participate in the construction of the Project; • Provide a list of job positions and descriptions to the Community Outreach Partner and agree to give priority to qualified job applicants referred by the Community Outreach Partner to participate in the construction of the Project; • Use Good Faith Efforts to offer permanent job positions resulting from the Project to qualified City residents; and • Notify and refer job training and job placement opportunities to the Boynton Beach Community High School and South Tech Academy in Boynton Beach in the event each are able and willing to provide such training. Section 4. Annual Performance Report. Developer shall annually provide the CRA with an Annual Performance Report for the Project indicating the status of Developer’s compliance with the requirements of this Agreement as set forth in Sections 3 and 5 of this Agreement and evidencing that Developer has paid all property taxes for the Property for the preceding year. Such report must be submitted to the CRA no later than the last day of April for the preceding year in a 755 5 form substantially as more fully discussed below. Section 5. Certification Requirements. 5.1 As a condition precedent to its receipt of any Pledged Project Increment Revenue pursuant to this Agreement: 5.1.1 Annual Performance Report. Commencing upon the Effective Date, Developer shall annually provide the CRA with an Annual Performance Report certifying Developer’s compliance with this Agreement and evidencing that Developer has paid all property taxes for the Property for the preceding year in a form substantially in accordance with the form attached as Exhibit “E”; 5.1.2 Upon receipt of the Annual Performance Report, the CRA shall review and approve the Annual Performance Report at the next available CRA meeting as meeting the requirements in Section 4 above and certifying Developer’s compliance with all conditions precedent for receiving Pledged Increment Revenue for the Project, which approval shall not be unreasonably withheld; 5.1.3 The CRA has received Tax Increment Revenues from the completed Improvements subsequent to the Base Year; and 5.1.4 Developer shall not be entitled to any Pledged Project Increment Revenue payments if the Developer has failed to meet its obligations under this Agreement or is otherwise in default under the terms of this Agreement and has failed to sufficiently cure the default as provided for herein after appropriate notice of such default has been given. There is no obligation by the CRA to disburse the Direct Incentive Funding during any cure period or in the event the Developer is in default of this Agreement so long as, once a default is cured, Developer shall continue to receive their Direct Incentive Funding for the Project up to the Pledged Project Increment Revenue and any time periods for performance hereunder shall be extended for the same period of time needed to cure the default. 5.2 Certification. 5.2.1 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1a. and 3.1.1.b. of this Agreement by providing a Certificate of Occupancy for all residential components of the Improvements and Certificate of Completion for all nonresidential components of the Improvements from the City of Boynton Beach indicating the 100 percent completion of all Improvements and demonstrating that the taxable value of all improvements have been placed on the Palm Beach County tax rolls for the Property. 5.2.2 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.c of this Agreement by demonstrating that it has constructed the Public Parking and by documenting signage and other means by which these Public Parking spaces 756 6 are clearly reserved for use by the public and excluded from use by multifamily and commercial units that are part of the Project. 5.2.3 Developer shall confirm in its Annual Performance Report that it has met its obligation under Section 3.1.1.d of this Agreement by providing proof of receipt of Florida Green Building Certification. 5.2.4 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.e of this Agreement by: a. Demonstrating that it hired and utilized the services of a job placement consultant and by reporting the job placement consultant’s activities during construction of the Project; b. Demonstrating that it held a job fair; and c. Requiring all Contractors covered by the terms of this Agreement to provide, if applicable, annual copies of its records, reports or any other information necessary to monitor compliance with the provisions of Section 3.1.1.e of this Agreement. Section 6. Pledged Project Increment Revenue. 6.1 Formula and Term. 6.1.1 The amount of the Pledged Project Increment Revenue to be paid Developer pursuant to this Agreement is capped at ____________________________ ($____________) Dollars (“TIR Cap”) based on the following formula: The CRA hereby agrees to pledge and assign to Developer pursuant to the terms of this Agreement, an annual amount which equals ninety-five percent (95%) of the Tax Increment Revenue, for a fifteen (15) year term, not to exceed a total of ____________________________________ ($_____________________) Dollars commencing on the last day of the year that all of the following conditions are met (“TIR Term”): A. The Developer has achieved Completion of Construction; B. All elements of the Project have been placed on the Tax Roll; C. The CRA has received Tax Increment Revenue from the Project; D. The Annual Performance Report is received and found to be sufficient by the CRA, which finding shall not be unreasonably withheld, conditioned or delayed; and E. Developer is not in default under this Agreement. 757 7 Provided the above conditions precedent are satisfied, the CRA shall disburse the Tax Increment Revenue to the Developer as soon as practicable after the CRA receives the Tax Increment Revenue. 6.2 No Prior Pledge of Pledged Project Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by term of this Agreement. 6.3 Form of Payment. Payment shall be in the form of a CRA check made payable to the Developer. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by Developer, either wholly or in part, and no payment shall be construed to relieve Developer of obligations under this Agreement or to be an acceptance of faulty or incomplete rendition of Developer’s obligations under this Agreement. Section 7. Notice and Contact. Any notice or other document required or allowed to be given pursuant to this Agreement shall be in writing and shall be delivered personally, or by recognized overnight courier or sent by certified mail, postage prepaid, return receipt requested. The use of electronic communication is not considered as providing proper notice pursuant to this Agreement. If to CRA, such notice shall be addressed to: Timothy Tack, Acting Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue Boynton Beach, Florida 33435 With a copy to: Kathryn B. Rossmell, Esq. Lewis, Longman & Walker, P.A. 360 South Rosemary Avenue Suite 1100 West Palm Beach, Florida 33401 If to Developer, such notice shall be addressed to: Mr. Robert Vecsler BB1 Development, LLC 888 Biscayne Boulevard, Suite 101 Miami, Florida 33132 With a copy to: 758 8 Bonnie Miskel, Esq. Dunay, Miskel and Backman, LLP 14 SE 4th Street, Suite 36 Boca Raton, FL 33432 Section 8. Default. The failure of Developer to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. If Developer fails to cure the default within thirty (30) days of notice from the CRA, the CRA may terminate this Agreement and all obligations for payment of Pledged Project Increment Revenue to Developer shall cease. Section 9. Termination. Unless earlier terminated pursuant to the terms herein, this Agreement shall automatically terminate upon the last disbursement of Pledged Project Increment Revenue to Developer for the Project, or within two (2) years of the Effective Date if the Developer has failed to commence construction of the Improvements subject to force majeure. Either Party may elect to terminate this Agreement by providing 45 days written notice to the other Party upon one or more of the following occurrences: a. The default of either Party, if such default is not cured within the time prescribed by this Agreement; b. The Parties enter into a mutually agreed upon, written Addendum, the effect of which is to terminate this Agreement. Section 10. Miscellaneous Provisions. 10.1 Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the development of the Project, whether such damage or injury occurs before, during, or after the construction of the Project or the term of this Agreement. Developer hereby forever waives, discharges, and releases the CRA, its agents, and its employees, to the fullest extent the law allows, from any liability for any damage or injury sustained by Developer. This waiver, discharge, and release specifically include negligence by the CRA, its agents, or its employees, to the fullest extent the law allows. 10.2 Indemnification. Developer shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of Developer. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require Developer to indemnify the CRA for its own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 759 9 10.3 Assignment. This Agreement may only be assigned by the Developer to record owners of the Property with the prior written consent of the CRA, which consent shall not be unreasonably withheld. After substantial completion of the Project, this Agreement may be transferred by the Developer; provided, however, that any assignee thereto shall specifically assume all of the obligations of the Developer under this Agreement. 10.4 Successors and Assigns. The CRA and Developer each binds itself and its partners, successors, executors, administrators and assigns to the other party and to the partners, successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and the Developer. 10.5 No Discrimination. Developer shall not discriminate against any person on the basis of race, color, religion, ancestry, national origin, age, sex, marital status, sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement. 10.6 No Partnership, Etc. Developer agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership, joint venture, or employee relationship. It is specifically understood that Developer is an independent contractor and that no employer/employee or principal/agent is or shall be created nor shall exist by reason of this Agreement or the performance under this Agreement. 10.7 Public Records: The CRA is a public agency subject to Chapter 119, Florida Statutes. Developer shall comply with Florida’s Public Records Law. Specifically, the Developer shall: a. Keep and maintain public records required by the CRA to perform the public services provided for in this Agreement; b. Upon request from the CRA’s custodian of public records, provide the CRA with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in this chapter or as otherwise provided by law. c. Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the contract if Developer does not transfer the records to the CRA. d. Upon completion of the contract, transfer, at no cost, to the CRA all public records in possession of Developer or keep and maintain public records required by the CRA to perform the service. If Developer transfers all public records to the public agency upon completion of the contract, Developer shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If Developer keeps and maintains public records upon completion of the contract, Developer shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to 760 10 the CRA, upon request from the CRA’s custodian of public records, in a format that is compatible with the information technology systems of the CRA. IF DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO DEVELOPER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 710 North Federal Highway, Boynton Beach, Florida 33435; or BoyntonBeachCRA@bbfl.us. 10.8 Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agr eements. No extraneous information may be used to alter the terms of this Agreement. 10.9 Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 10.10 Agreement Deemed to be Drafted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue of the fact that one party or its attorney drafted all or any part thereof. Any ambiguity found to exist shall be resolved by construing the terms of this Agreement fairly and reasonably in accordance with the purpose of this Agreement. 10.11 Governing Law, Jurisdiction, and Venue. The terms and provisions of this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County, Florida, for all purposes, to which the Parties expressly agree and submit. 10.12 Independent Advice. The Parties declare that the terms of this Agreement have been read and are fully understood. The Parties understand that this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 10.13 Severability. If any part of this Agreement is found invalid or unenforceable by any court, such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the Parties contained herein are not materially prejudiced and if the intentions of the Parties can continue to be achieved. To that end, this Agreement is declared severable. 761 11 10.14 Voluntary Waiver of Provisions. The CRA may, in its sole and absolute discretion, waive any requirement of Developer contained in this Agreement. 10.15 Compliance with Laws. In its performance under this Agreement, Developer shall comply with all applicable federal and state laws and regulations and all applicable Palm Beach County, City of Boynton Beach, and CRA ordinances and regulations. 10.16 Minor Modifications. The CRA Executive Director shall administratively amend this Agreement (without requirement of CRA board approval) as may be reasonably required by the Lender, provided that such amendment does not pertain to or impact any material term of this Agreement and is or the purpose of complying with Lender requirements in order to effectuate Financial Closing. If any required amendment by the Lender would have a material effect on the terms and conditions set forth in this Agreement, then such amendment shall require CRA board approval, not to be unreasonably withheld, conditioned or delayed. For purposes of this paragraph, the term “material term” shall include all terms and provisions in Sections 3, 5, 6, 8, 9, 10.1, 10.2, 10.3, 10.4, 10.7, 10.16, 10.17, and 10.18 and any other term reasonably deemed material by the CRA Attorney at the time such request for amendment is made. 10.17 Survival. The provisions of this Agreement regarding public records, indemnity, and waiver shall survive the expiration or termination of this Agreement and remain in full force and effect. 10.18 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failur e or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire, floods, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, pandemics, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority, or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s) of any such delay(s). All terms contained herein shall be subject to Force Majeure. 10.19 Computation of Time. Any reference herein to time periods which are not measured in Business Days and that are less than six (6) days shall not include Saturdays, Sundays, and legal holidays in the computation thereof. Any period provided for in this Agreement which ends on a Saturday, Sunday, or legal holiday shall extend to 5 p.m. on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the computation thereof. For purposes of this Agreement, Business Days shall mean Monday through Friday but shall exclude state and federal holidays. 10.20 Effective Date. This Agreement will become effective upon the date and time the last party executes this Agreement. 762 12 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES: BB1 DEVELOPMENT, LLC, a Delaware limited liability company (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF __________________ COUNTY OF ________________ BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ___ day of __________________, 2024, by ___________________________________________, as ____________________________________ of BB1 DEVELOPMENT, LLC, a Delaware limited liability company, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of _____________________ __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 763 13 WITNESSES: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ____ day of ________________, 2024, by ___________________________, as __________________ of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of Florida __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 764 14 EXHIBIT “A” PROJECT 765 15 EXHIBIT “B” PROPOSAL 766 16 EXHIBIT “C” PROPERTY 767 17 EXHIBIT "D” PUBLIC PARKING 768 18 EXHIBIT "E” ANNUAL PERFORMANCE REPORT FORM 769 1 TAX INCREMENT REVENUE FUNDING AGREEMENT This Tax Increment Revenue Funding Agreement (hereinafter “Agreement”) entered into as of the _____ day of _______________, 2024, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as “CRA”), with a business address of 100 E. Ocean Avenue, Boynton Beach, Florida 33435, and BB1 DEVELOPMENT, LLC, a Delaware limited liability company, with a business address of 888 Biscayne Boulevard, Suite 101, Miami, Florida 33132 (hereinafter referred to as the “Developer”). RECITALS WHEREAS, Developer owns the property located at 114 and 222 North Federal Highway, Boynton Beach, Florida (“Property”) and intends to construct within the Property a new mixed-use development comprised of a approximately 371 multi-family units with related amenities and approximately 25,000 square feet of commercial space as depicted in the Site Plan attached hereto as Exhibit “A” (hereinafter referred to as the “Project”); and WHEREAS, the Property is located within the CRA Downtown Masterplan; and WHEREAS, in an effort to provide the many public benefits to the public, Developer has submitted that certain proposal dated __________ related to the Project, attached as Exhibit “B” (hereafter referred to as the “Proposal”); and WHEREAS, the CRA has determined that the Project furthers the Boynton Beach Community Redevelopment Plan; and WHEREAS, Developer has the knowledge, ability, skill, and resources to effectuate the construction and development of the Project; and WHEREAS, the CRA has determined that a public-private partnership in which the CRA provides Tax Increment Revenue Funding for the Project will further the goals and objectives of the Community Redevelopment Plan; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties hereby acknowledge, the Parties Agree as follows: 770 2 Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings, which shall apply to words in both the singular and plural forms of such words: 2.1. “Base Year” means the base year for determining Tax Increment Revenue from the Project. 2.3. “Certificate of Occupancy” means the certificate issued by the City pursuant to the City of Boynton Beach Building and Zoning Code indicating that a building or structure complies with all applicable City of Boynton Beach Building and Zoning Code requirements and that the same may be used for the purposes stated therein. 2.4. “City” means the City of Boynton Beach, Florida. 2.5. “Commencement of Construction” or “Commence Construction” means obtaining an official permit in hand for any of the construction activities contained herein and beginning to actually demolish, excavate or prepare the site for development of the Project in accordance with the City Code and continuing until completion of construction of the Project as applicable in accordance with the Florida Building Code. 2.6. “Community Outreach Partner” means the for-profit or non-profit group or organization selected by Developer with whom Developer shall coordinate on the issues and obligations in this Agreement pertaining to employment of City residents and jobs for Locally Owned Small Businesses. 2.7. “Contractor” means a general contractor, a subcontractor or any other business entering into a contract with the Developer related to the construction of the Project or part thereof. 2.8. "Effective Date" shall mean the date the last party to this Agreement executes this Agreement. 2.9. “Good Faith Effort” is considered to have been made when the respective parties have used reasonable means to comply with the associated directives and/or provisions set forth in this Agreement. 2.10. “Grey Shell” means an unfinished interior, lacking heating, ventilating, air conditioning, lighting, plumbing, ceilings, elevators, interior walls, etc. and ready for tenant improvements. 2.11. “Locally Owned Small Businesses” means any business that is wholly owned by individuals who reside in the City. If a business is owned by a corporation, then the corporation must be wholly owned by individuals who reside in the City. If the business is owned by a 771 3 partnership or limited liability company, then at least 20% of its partners or members must reside in the City. 2.13 “Parking Improvements” means ninety (90) public parking spaces restricted for the use by the public in accordance with Paragraph 3.1.1(c) below. 2.14. “Pledged Project Increment Revenue” means an amount calculated by multiplying Tax Increment Revenue from the Project by agreed upon percentage factor as provided for in this Agreement. 2.15. “Property” means the property subject to this Agreement upon which the Project shall be developed as more particularly described in Exhibit “C,” hereto. 2.16. "Site Plan" shall mean the approved Site Plan attached hereto as Exhibit “A,” approved by the City of Boynton Beach, file # MSPM 23-003. 2.17. “Tax Increment Revenue” shall mean the amount deposited in the Redevelopment Trust Fund for the Boynton Beach Community Redevelopment Area, pursuant to Florida Statutes, Section 163.387, that is attributable to the Project. Section 3. Developer’s Obligations and Covenants. 3.1 Construction of the Project. Developer agrees to Commence Construction of the Project within two (2) years of the Effective Date of this Agreement. 3.1.1 The Project shall conform to the Site Plan and shall include the following, which shall hereinafter be referred to as “Improvements”: a. Developer shall construct approximately of 371 multi-family residential units with related amenities. b. Developer shall construct approximately 25,000 square feet of commercial/retail space; c. Developer shall construct Parking Improvements, conceptually depicted on Exhibit “D,” hereto ("Public Parking") that shall be restricted for public use and that shall not be available to the residential units. The Parking Improvements may consist of structured parking, surface parking, valet parking, mechanical parking, shared parking or any other means as allowed under local city ordinance. Upon completion of the Public Parking, Developer and the CRA shall enter into a Parking Management Agreement to establish the maintenance responsibilities of the CRA for the Public Parking. If a Parking Management Agreement is not negotiated and executed by the Parties within one year of the completion of construction of the Public Parking, either Formatted: Font: Bold Formatted: Font: Not Bold 772 4 party may request binding arbitration to complete the terms of the Agreement. Notwithstanding the foregoing, Developer will be responsible for managing and metering the Public Parking and all revenue derived from such metering shall be retained as revenue by Developer. d. Construction of the multi-family residential units for the Project shall be in compliance with the following green building construction items:.  All the air conditioners will be Energy Star qualified with a minimum of SEER 16.  Provide roofing materials with a SRI 75 for our low-sloped roofs for a minimum of 75% of the roof above the parking and the residential parts.  Provide energy efficient LED lighting fixtures for the building and all the interior spaces.  Provide 100% Energy Star appliances within the building. e. Prior to and during the construction of the Project, the Developer shall :  Hire a job placement consultant during the construction period of this Agreement;  Host a job fair;  When feasible, give priority to Contractors that are Locally Owned Small Businesses to participate in the construction of the Project;  Include in all contracts with Contractors requirements that the Contractors use Good Faith Efforts to hire and train City residents to participate in the construction of the Project;  Provide a list of job positions and descriptions to the Community Outreach Partner and agree to give priority to qualified job applicants referred by the Community Outreach Partner to participate in the construction of the Project;  Use Good Faith Efforts to offer permanent job positions resulting from the Project to qualified City residents;  Notify and refer job training and job placement opportunities to the Boynton Beach Community High School and South Tech Academy in Boynton Beach in the event each are able and willing to provide such training; and 773 5 Provide 4 EV charging stations more than the minimum required. We provide a total of 13 EV level 2 charging stations. Section 4. Annual Performance Report. Developer shall annually provide the CRA with an Annual Performance Report for the Project indicating the status of Developer’s compliance with the requirements of this Agreement as set forth in Sections 3 and 5 of this Agreement and evidencing that Developer has paid all property taxes for the Property for the preceding year. Such report must be submitted to the CRA no later than the last day of April for the preceding year in a form substantially as more fully discussed below. Section 5. Certification Requirements. 5.1 As a condition precedent to its receipt of any Pledged Project Increment Revenue pursuant to this Agreement: 5.1.1 Annual Performance Report. Commencing upon the Effective Date, Developer shall annually provide the CRA with an Annual Performance Report certifying Developer’s compliance with this Agreement and evidencing that Developer has paid all property taxes for the Property for the preceding year in a form substantially in accordance with the form attached as Exhibit “E”; 5.1.2 Upon receipt of the Annual Performance Report, the CRA shall review and approve the Annual Performance Report at the next available CRA meeting as meeting the requirements in Section 4 above and certifying Developer’s compliance with all conditions precedent for receiving Pledged Increment Revenue for the Project, which approval shall not be unreasonably withheld; 5.1.3 The CRA has received Tax Increment Revenues from the completed Improvements subsequent to the Base Year; 5.1.4 Developer shall not be entitled to any Pledged Project Increment Revenue payments if the Developer has failed to meet its obligations under this Agreement or is otherwise in default under the terms of this Agreement and has failed to sufficiently cure the default as provided for herein after appropriate notice of such default has been given. There is no obligation by the CRA to disburse the Direct Incentive Funding during any cure period or in the event the Developer is in default of this Agreement so long as, once a default is cured, Developer shall continue to receive their Direct Incentive Funding for the Project up to the Pledged Project Increment Revenue and any time periods for performance hereunder shall be extended for the same period of time needed to cure the default; and 5.1.5 5.2 Certification. 5.2.1 Developer shall certify in its Annual Performance Report that it has met its 774 6 obligation under Section 3.1.1a. and 3.1.1.b. of this Agreement by providing a Certificate of Occupancy for all residential components of the Improvements and Certificate of Completion for all nonresidential components of the Improvements from the City of Boynton Beach indicating the 100 percent completion of all Improvements and demonstrating that the taxable value of all improvements have been placed on the Palm Beach County tax rolls for the Property. 5.2.2 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.c of this Agreement by demonstrating that it has constructed the Public Parking and by documenting signage and other means by which these Public Parking spaces are clearly reserved for use by the public and excluded from use by multifamily and commercial units that are part of the Project. 5.2.3 Developer shall confirm in its Annual Performance Report that it has met its obligation under Section 3.1.1.d of this Agreement by providing proof of receipt of Florida Green Building Certification. 5.2.4 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.e of this Agreement by: a. Demonstrating that it hired and utilized the services of a job placement consultant and by reporting the job placement consultant’s activities during construction of the Project; b. Demonstrating that it held a job fair; and c. Requiring all Contractors covered by the terms of this Agreement to provide annual copies of its records, reports or any other information necessary to monitor compliance with the provisions of Section 3.1.1e of this Agreement and require all Contractors to submit annual payrolls to the Developer that include the following information: name, address and the number of hours worked for the period, until a Certificate of Occupancy is issued for at least 90% of the residential units of the Project. Section 6. Pledged Project Increment Revenue. 6.1 Formula and Term. 6.1.1 The amount of the Pledged Project Increment Revenue to be paid Developer pursuant to this Agreement is capped at Eleven Million Five Hundred Thousand ($XX) Dollars (“TIR Cap”) based on the following formula: The CRA hereby agrees to pledge and assign to Developer pursuant to the terms of this Agreement, an annual amount which equals ninety-five percent 775 7 (95%) of the Tax Increment Revenue, for a fifteen (15) year term, not to exceed a total of Eleven Million Five Hundred Thousand ($XX) Dollars commencing on the last day of the year that all of the following conditions are met (“TIR Term”): A. The Developer has achieved Completion of Construction; B. All elements of the Project have been placed on the Tax Roll; C. The CRA has received Tax Increment Revenue from the Project; D. The Annual Performance Report is received and found to be sufficient by the CRA, which finding shall not be unreasonably withheld, conditioned or delayed; and E. Developer is not in default under this Agreement. Provided the above conditions precedent are satisfied, the CRA shall disburse the Tax Increment Revenue to the Developer as soon as practicable after the CRA receives the Tax Increment Revenue. 6.2 No Prior Pledge of Pledged Project Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by term of this Agreement. 6.3 Form of Payment. Payment shall be in the form of a CRA check made payable to the Developer. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by Developer, either wholly or in part, and no payment shall be construed to relieve Developer of obligations under this Agreement or to be an acceptance of faulty or incomplete rendition of Developer’s obligations under this Agreement. Section 7. Notice and Contact. Any notice or other document required or allowed to be given pursuant to this Agreement shall be in writing and shall be delivered personally, or by recognized overnight courier or sent by certified mail, postage prepaid, return receipt requested. The use of electronic communication is not considered as providing proper notice pursuant to this Agreement. If to CRA, such notice shall be addressed to: Timothy Tack, Acting Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue Boynton Beach, Florida 33435 With a copy to: Kathryn B. Rossmell, Esq. 776 8 Lewis, Longman & Walker, P.A. 360 South Rosemary Avenue Suite 1100 West Palm Beach, Florida 33401 If to Developer, such notice shall be addressed to: Mr. Robert Vecsler BB1 Development, LLC 888 Biscayne Boulevard, Suite 101 Miami, Florida 33132 With a copy to: Bonnie Miskel, Esq. Dunay, Miskel and Backman, LLP 14 SE 4th Street, Suite 36 Boca Raton, FL 33432 Section 8. Default. The failure of Developer to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. If Developer fails to cure the default within thirty (30) days of notice from the CRA, the CRA may terminate this Agreement and all obligations for payment of Pledged Project Increment Revenue to Developer shall cease. Section 9. Termination. Unless earlier terminated pursuant to the terms herein, this Agreement shall automatically terminate upon the last disbursement of Pledged Project Increment Revenue to Developer for the Project, or within two (2) years of the Effective Date if the Developer has failed to commence construction of the Improvements subject to force majeure. Either Party may elect to terminate this Agreement by providing 45 days written notice to the other Party upon one or more of the following occurrences: a. The default of either Party, if such default is not cured within the time prescribed by this Agreement; b. The Parties enter into a mutually agreed upon, written Addendum, the effect of which is to terminate this Agreement. Section 10. Miscellaneous Provisions. 10.1 Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the development of the Project, whether such damage or injury occurs before, during, or after the construction of the Project or the term of this Agreement. Developer hereby forever waives, discharges, and releases the CRA, its agents, and its employees, to the fullest extent the law allows, from any liability for any damage or injury sustained by Developer. This waiver, discharge, and release specifically 777 9 include negligence by the CRA, its agents, or its employees, to the fullest extent the law allows. 10.2 Indemnification. Developer shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of Developer. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require Developer to indemnify the CRA for its own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 10.3 Assignment. This Agreement may only be assigned by the Developer to record owners of the Property with the prior written consent of the CRA, which consent shall not be unreasonably withheld, provided, however, that any assignee hereto shall specifically assume all of the obligations of the Developer under this Agreement. 10.4 Successors and Assigns. The CRA and Developer each binds itself and its partners, successors, executors, administrators and assigns to the other party and to the partners, successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and the Developer. 10.5 No Discrimination. Developer shall not discriminate against any person on the basis of race, color, religion, ancestry, national origin, age, sex, marital status, sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement. 10.6 No Partnership, Etc. Developer agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership, joint venture, or employee relationship. It is specifically understood that Developer is an independent contractor and that no employer/employee or principal/agent is or shall be created nor shall exist by reason of this Agreement or the performance under this Agreement. 10.7 Public Records: The CRA is a public agency subject to Chapter 119, Florida Statutes. Developer shall comply with Florida’s Public Records Law. Specifically, the Developer shall: a. Keep and maintain public records required by the CRA to perform the public services provided for in this Agreement; b. Upon request from the CRA’s custodian of public records, provide the CRA with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in this 778 10 chapter or as otherwise provided by law. c. Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the contract if Developer does not transfer the records to the CRA. d. Upon completion of the contract, transfer, at no cost, to the CRA all public records in possession of Developer or keep and maintain public records required by the CRA to perform the service. If Developer transfers all public records to the public agency upon completion of the contract, Developer shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If Developer keeps and maintains public records upon completion of the contract, Developer shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the CRA, upon request from the CRA’s custodian of public records, in a format that is compatible with the information technology systems of the CRA. IF DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO DEVELOPER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 710 North Federal Highway, Boynton Beach, Florida 33435; or BoyntonBeachCRA@bbfl.us. 10.8 Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 10.9 Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 10.10 Agreement Deemed to be Drafted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue of the fact that one party or its attorney drafted all or any part thereof. Any ambiguity found to exist shall be resolved by construing the terms of this Agreement fairly and reasonably in accordance with the purpose of this Agreement. 10.11 Governing Law, Jurisdiction, and Venue. The terms and provisions of this 779 11 Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County, Florida, for all purposes, to which the Parties expressly agree and submit. 10.12 Independent Advice. The Parties declare that the terms of this Agreement have been read and are fully understood. The Parties understand that this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 10.13 Severability. If any part of this Agreement is found invalid or unenforceable by any court, such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the Parties contained herein are not materially prejudiced and if the intentions of the Parties can continue to be achieved. To that end, this Agreement is declared severable. 10.14 Voluntary Waiver of Provisions. The CRA may, in its sole and absolute discretion, waive any requirement of Developer contained in this Agreement. 10.15 Compliance with Laws. In its performance under this Agreement, Developer shall comply with all applicable federal and state laws and regulations and all applicable Palm Beach County, City of Boynton Beach, and CRA ordinances and regulations. 10.16 Minor Modifications. The CRA Executive Director shall administratively amend this Agreement (without requirement of CRA board approval) as may be reasonably required by the Lender, provided that such amendment does not pertain to or impact any material term of this Agreement and is or the purpose of complying with Lender requirements in order to effectuate Financial Closing. If any required amendment by the Lender would have a material effect on the terms and conditions set forth in this Agreement, then such amendment shall require CRA board approval, not to be unreasonably withheld, conditioned or delayed. For purposes of this paragraph, the term “material term” shall include all terms and provisions in Sections 3, 5, 6, 8, 9, 10.1, 10.2, 10.3, 10.4, 10.7, 10.16, 10.17, and 10.18 and any other term reasonably deemed material by the CRA Attorney at the time such request for amendment is made. 10.17 Survival. The provisions of this Agreement regarding public records, indemnity, and waiver shall survive the expiration or termination of this Agreement and remain in full force and effect. 10.18 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire, floods, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, pandemics, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority, or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s) of any such delay(s). All terms contained herein 780 12 shall be subject to Force Majeure. 10.19 Computation of Time. Any reference herein to time periods which are not measured in Business Days and that are less than six (6) days shall not include Saturdays, Sundays, and legal holidays in the computation thereof. Any period provided for in this Agreement which ends on a Saturday, Sunday, or legal holiday shall extend to 5 p.m. on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the computation thereof. For purposes of this Agreement, Business Days shall mean Monday through Friday but shall exclude state and federal holidays. 10.20 Effective Date. This Agreement will become effective upon the date and time the last party executes this Agreement. IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES: BB1 DEVELOPMENT, LLC, a Delaware limited liability company (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF __________________ COUNTY OF ________________ BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ___ day of __________________, 2024, by ___________________________________________, as ____________________________________ of BB1 DEVELOPMENT, LLC, a Delaware limited liability company, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) 781 13 Notary Public, State of _____________________ __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped WITNESSES: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ____ day of ________________, 2024, by ___________________________, as __________________ of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of Florida __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 782 14 EXHIBIT “A” PROJECT 783 15 EXHIBIT “B” PROPOSAL 784 16 EXHIBIT “C” PROPERTY 785 17 EXHIBIT "D” PUBLIC PARKING 786 18 EXHIBIT "E” ANNUAL PERFORMANCE REPORT FORM 787 TIRFA Term Sheet January 10, 2024 Following are terms pursuant to which a Tax Increment Revenue Financing Agreement (“TIRFA”) will be drafted and executed between BB1 Development LLC (“Developer”) and the Boynton Beach Community Redevelopment Agency (“BBCRA”). Project: Developer is developing the Project, a mixed-use development including 371 residential units as well as approximately 25,000 SF of retail/commercial space. The Project will add thousands of permanent and temporary jobs as well as millions of dollars in benefits to the City of Boynton Beach as outlined in the report by Fishkind Litigation Services. Open Space: The Project has approximately 21,000 SF of green space and 36,000 SF of sidewalks and paved areas including a public plaza with outdoor seating connecting to the commercial space, accounting for over 35% of the total site area. Residential Units: Of the 371 total units, over 200 are housing units below 750 SF, which is a category of housing encouraged by the Boynton Beach zoning code for the purpose of providing a broader range of housing attainable at different income levels. Energy Efficiency: The Project is incorporating green elements into the design such as energy efficient air conditioners, cool roof pavers, energy efficient LED lighting fixtures and 100% Energy Star rated appliances. Community Outreach: Developer will be partner with a local community outreach partner in order to coordinate on issues pertaining to employment of City residents and jobs. BB1 and the community outreach partner will host a job fair, when feasible give priority to qualified job applicants to participate in the construction of the Project and use good faith efforts to offer permanent job positions resulting from the Project to qualified City residents. Public Parking: BB1 received feedback from members of the public and local neighborhood groups/associations to help accommodate additional parking in downtown Boynton Beach. BB1 worked with its consultants to identify an additional 32 parking spaces above the approved number of spaces. Rather than reduce the garage size by this number of spaces and achieve cost savings, BB1 will provide these spaces for public use, together with an additional 58 of its existing commercial spaces which it will convert to public spaces, 788 for a total of 90 public parking spaces (the “New Public Parking Spaces”). After this dedication, BB1 will continue to have 70 parking spaces available for dedicated commercial use, in addition to residential/visitor only parking spaces. BB1 will be responsible for installing, managing and metering the New Public Parking Spaces and will retain such parking revenue. Infrastructure: Developer shall complete the public infrastructure items as shown in Exhibit A. Construction Start: Developer agrees to commence construction of the Project with two (2) years of the effective date of the TIRFA. Annual Report: Developer shall provide an annual performance report for the Project to the BBCRA from commencement of construction through TCO. Tax Increment Financing: Commencing upon the temporary certificate of complete (“TCO”), Developer will receive an annual amount which refund equals to 95% of the total tax revenue generated by the project for a fifteen (15) year term, not to exceed a total of $11.5 million (the “TIRFA Amount”). Assignability: This Agreement may only be assigned by the Developer to record owners of the Property with the prior written consent of the CRA, which consent shall not be unreasonably withheld After substantial completion of the Project, this Agreement may be transferred by the Developer; provided, however, that any assignee thereto shall specifically assume all of the obligations of the Developer under this Agreement. Termination: The TIRFA shall automatically terminate upon the cap of $11.5 million being reached or within two (2) years of the effective date of the TIRFA if Developer has failed to commence construction. Waiver/Indemnification: The BBCRA will not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the Development of the Project. Developer shall also indemnify, save and hold harmless the BBCRA, its agents or its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed or recovered against the BBCRA. 789 ABRAMSON & ASSOCIATES, Inc. Real Estate and Public-Private Development Advisory Services 113 Chestnut Street / Newton, MA 02465 / tel: (617) 965-4545 / fax: (617) 965-5431 /www.abramsonassoc.com MEMORANDUM TO: Timothy Tack, P.E., Assistant Director Boynton Beach Community Redevelopment Agency FROM: Barry Abramson SUBJECT: Evaluation of TIRFA Request for Ocean One Project DATE: March 28, 2024 _______________________________________________________________________ EXECUTIVE SUMMARY This memorandum summarizes our evaluation of a request for TIRFA by BB1 Development LLC (“BB1”) for a proposed project – Ocean One, a mixed-use development located at 114/222 N. Federal Highway. The project is to include 371 rental apartments, 24,742 net square feet of retail space and a parking garage to meet the needs of the project with 90 spaces proposed to be operated as “public spaces” available to the public at large with parking revenues to be retained by the project. The developer requests 95% of the total tax increment revenue received by the BBCRA generated by the project for a fifteen-year term commencing upon temporary certificate of occupancy, not to exceed a total of $11.5 million with two years from the effective date of the TIRFA to start construction. The evaluation focuses on the need for the TIF funding and the financial effect to the CRA of the proposed agreement, along with general comments regarding proposed benefits claimed by the developer. The analysis does not consider conformance of the proposed project with planning and zoning requirements such as density and parking sufficiency which should be evaluated by the CRA and City. Based upon our evaluation, we consider the developer’s assumptions to be generally in a range of reasonableness and that, in the current development market, the project has a feasibility gap requiring the requested TIF subsidy. Notwithstanding this conclusion, we note that relatively small variations in assumptions and/or improvements in the development market over the two-year time-frame could significantly reduce, or even, eliminate the subsidy requirement. Total CRA incremental revenues from the project are estimated at approximately $14,000,000. With the vast majority of this revenue following the estimated ten years of operation it would take to reach the $11,500,000 total award, the present value at the start of 2025 is estimated at approximately $7,600,000. 790 2 The City is estimated to receive total incremental tax revenues from the project of approximately $67,000,000 over 50 years of the property’s operation. As these revenues would be primarily back-loaded, following the CRA sunset, their present value as of the start of 2025 is estimated at only $1,500,000. The CRA may wish to explore structuring opportunities with the developer that might result in a lessening of the TIF award should it prove not to be fully required for feasibility. COMMENTS ON PUBLIC BENEFITS Public Parking The proposed 90 public spaces are comprised of 58 of the retail spaces which would otherwise be dedicated to retail tenants (which , if dedicated, would enhance the marketability of such retail space) plus 32 spaces above and beyond the number required by zoning which the developer could otherwise eliminate from the garage to save cost. The public spaces would be operated by the project owner who would retain parking revenues. The developer contends the 90 public spaces have a value to the CRA/City of $5,000,000 ($55,556 per space) based on the developer’s estimate of the cost (including land, soft and financing, as well as hard costs) that the CRA or City would incur to build parking in a new garage. At least with regard to the 58 spaces switched from dedicated to publicly available, we would anticipate at least some of these spaces would be used by visitors to the project’s retail component, as they would if they were dedicated to those tenants. A qualified parking consultant would need to validate cost/value, estimate the extent to which parking revenues would exceed operating costs in a public garage and in the proposed privately-operated garage, and the net effect on area parking supply and demand of the project and the switch of the 58 spaces from dedicated to public and the additional 32 spaces beyond zoning requirement. Other Benefits The developer contends it is providing an estimated $1,000,000 of public infrastructure and will make efforts in the area of local hiring. The CRA and City are best positioned to determine whether these matters are standard or above and beyond the normal requirements and customary contributions of a project of this nature. A consultant report commissioned by the developer claimed various benefits in terms of fiscal and economic impact for the project. These impacts are generally felt on a regional basis. The impact on a relatively small local community such as Boynton Beach would be hard to quantify with any reliability but would be expected to be relatively small. 791 3 Obviously, a significant benefit of the project would be to convert this large, underutilized property to an attractive and productive use consistent with the planning objectives of the CRA and the City. THE TIRFA PROPOSAL The developer is requesting a TIRFA as follows: “Commencing upon the temporary certificate of occupancy (“TCO”), Developer will receive an annual payment equal to 95% of the total tax increment revenue received by the BBCRA generated by the project for a fifteen (15) year term, not to exceed a total of $11.5 million (the “TIRFA Amount”). The proposal calls for the developer to have two years from the effective date of the TIRFA to start construction. EVALUATION OF PROJECT NEED FOR THE TIRFA The developer’s TIRFA request is based on its contention that the project is infeasible under current development market conditions without the TIF subsidy. Specifically, the developer contends that a subsidy equivalent to a present value of approximately $9,500,000 at the time of substantive completion of construction is necessary to achieve the “untrended” return on cost (“ROC”) of 6.0%, necessary to finance the project in the current market. Untrended return on cost is the net operating income of the project (prior to debt) upon stabilization divided by the total development cost, both stated in today’s (2024) dollars. The developer estimates the $11,500,000 of TIF revenues awarded to the project over time, discounted at an annual rate of4.0%, would yield a present value equal to the above-noted target present value. The developer contends that it needs the TIRFA to be able to secure financing which would enable it to start construction within approximately six months. We evaluated the developer’s pro forma, researched and reviewed publicly available market data and insights, held conversations with the developer, the developer’s advisors, the Palm Beach County Property Appraiser’s office, and knowledgeable market participants and analyzed the project’s economics based upon the above and our experience. Based upon this evaluation, we consider the developer’s assumptions to be generally in a range of reasonableness, though we note that relatively small variations within the range of reasonableness can have a dramatic impact on the amount of subsidy required. Notably, estimated hard construction and related costs are based on a construction company’s estimates based on 50% drawings plus an owner-held hard cost contingency and may tighten if value engineering and bidding enable a tightening of early-stage cost cushioning, especially in a construction market in which project starts have been stalled. Permit fees and other upfront exactions are another cost item that could be reviewed. The developer’s estimates were provided by an experienced consultant specializing in this field but have not as yet been reviewed by the City. 792 4 We concur that untrended return on cost is an appropriate metric to estimate feasibility/required gap. ROC is a common measure of development feasibility and profitability. It has the advantages of: being simple, avoiding the vagaries of particular debt and equity financing arrangements (while, inherently, accounting for them in a general ized market-wide way); avoiding speculation about inflation; and being a parameter for which participants in the real estate market are able to provide general market norms (which, of course, should be considered in light of the particulars of the specific location and project). Based on our research, we consider a 6.0% untrended return on cost to be reasonable in the current development market. This ROC is higher than what would have been required at the peak of the market a couple of years ago. Required rates of return can be anticipated to decrease over time if and when interest rates for development financing decrease as a result of reductions in treasury bond interest rates, though there are various factors that might not necessarily result in this being a one:one relationship. A slight variation in the required return on cost would have significant implications for the required subsidy amount, as would variations in other development costs or elements of net operating income. Based on the developer’s assumptions, the project has a feasibility gap requiring subsidy of approximately $9,500,000 which the developer estimated would yield a 5.97% ROC. Our TIF cash flow analysis estimates the proposed TIRFA award, totaling $11,500,000 over time, would yield a present value at the completion of substantial construction, at a 4.0% discount rate, of approximately $9,300,000, yielding a 5.96% ROC. The small differences in present value and ROC are not considered material. Financial Feasibility/Gap Analysis Development Cost Acquisition Cost $12,000,000 Total Hard Costs $111,241,836 $44,629,558 Total Development Cost $167,871,394 Stabilized Operating Income ($2024) Effective Gross Income $14,257,355 General Oper Exps & Property Management $2,730,692 Taxes & Assessments RE Tax after 4% early payment discount @ AV/unit =$275,688 $1,988,483 City Fire Assessment $46,394 City Solid Waste Authority Assessment $41,086 Total Tax & Operating Expenses $4,806,655 Net Operating Income $9,450,700 Required Subsidy Analysis Without Subsidy With Subsidy Net Operating Income $9,450,700 $9,450,700 Development Cost $167,871,394 $167,871,394 Less Subsidy $0 ($9,300,000) Development Cost After Subsidy $167,871,394 $158,571,394 Return on Cost 5.63%5.96% Soft & Other Costs (Incl Predev, Dev OH&Fee, Owner Hard Contingency, TI, Financing Costs, Lease-Up) 793 5 EVALUATION OF THE FINANCIAL EFFECT OF THE TIRFA ON THE CRA AND CITY The estimated assessed/taxable valuations for the project are based on estimates provided by a consultant specializing in this field engaged by the developer, which were consistent with our research of assessments for comparable properties in Boynton Beach and discussion with the county property appraiser’s office. Our analysis (presented on following pages) indicates that the proposed TIRFA would absorb nearly all the CRA tax increment for the first ten years of the project’s operations (i.e. through 2036). Thereafter, the CRA would enjoy the full increment (estimated at approximately $1,500,000 in 2037) through the CRA sunset in 2044. Total CRA incremental revenues from the project are estimated at approximately $14,000,000. Present value to the CRA has been estimated at a discount rate of 4.0%, slightly higher than the AA municipal bond yield which is currently 3.5% for a 20 year-term. Present value to the CRA at the start of 2025 is estimated at approximately $7,600,000. The City is estimated to receive total incremental tax revenues from the project of approximately $67,000,000 over 50 years of the property’s operation. Given these revenues would be primarily back-loaded, following the CRA sunset, the present value at the start of 2025 of these revenues is estimated at only $1,500,000. A discount rate of 4.0% was applied to revenues during the initial period prior to CRA sunset and a 6.0% discount rate was applied to revenues in following years, given greater uncertainty re. market conditions and the property at that point no longer being positioned as a newer prime property in the marketplace. If TIRFA Not Awarded As the CRA considers this TIRFA request, an obvious question is what will happen if it is not granted? There is a possibility that, in the coming couple or few years, the private development market will recover its equilibrium based on some combination of financing rates coming down somewhat, construction costs stabilizing, and rents increasing to a level that supports new development, as has been the case in past boom and bust cycles in Southeast Florida which have shown the resiliency of the market. In that event, while the present developer may have difficulty recouping some of its investment in the cost of its extended holding period interest and other costs, there would be a reasonable chance that the developer or a successor could be able to make this or a comparable project work without a TIF, enabling the CRA to realize all the incremental revenue over that period. Of course, this is a hypothetical. There is no guaranty when the development market will recover or what will happen with this individual property – which has lain fallow for many years and could be burdened by the current developer’s holding out until it can recoup all its costs. Whether or not the present value of incremental revenues to the CRA and City would 794 6 be significantly higher than if the developer can proceed with the project in the near term under the proposed agreement would be a function of the level of risk ascribed to the hypothetical in terms of a discount rate, which would be a subjective determination. POSSIBLE STRUCTURING CONCEPTS The CRA may wish to explore options for structuring the TIRFA so that the award may be reduced in the event it proves not to be fully needed – at the time the construction contract and financing are secured, upon completion of construction, and/or during operations. Developers and financing sources, understandably, would prefer surety and simplicity – a guaranteed award without any adjustments. Still, with so much money at stake , development factors subject to verifiable refinement, and a development market that may show improvement over the near term, and considered more likely than not, over the up to two years the developer proposes the TIRFA allow for it to start construction, there may be opportunities to adjust the TIRFA without unduly hamstringing the developer’s financing efforts, as has been accomplished in other public-private deals. It would be essential to make any adjustments subject to verifiable improvements in the project’s economics so that the developer and financing sources could be assured of achieving a reasonable rate of return. Especially given anticipated (albeit not guaranteed) improvements in development market factors, there may be some adjustments that might not take effect if construction starts in the near term – say the six months following TIRFA approval, but could kick in if the project does not start till later in the proposed two-year window. A few concepts that could be explored with the developer are: • Reduce TIRFA award by amount on a present value basis (or percentage thereof) if actual construction cost is less than currently estimated. This can be determined upon construction contract and again at completion of construction. • Reduce TIRFA award by amount on a present value basis (or percentage thereof) if actual permit fees and other exactions are less than current estimates, which have not been verified at this time. • Adjust above for costs that clearly would be impacted by reduction in construction and permit costs. • Reduce TIRFA award in the form of a CRA participation in net public parking revenues if above developer’s current estimates. • Reduce TIRFA award by some negotiated factor relative to some verifiable measure of financing rates or treasury bond yields. • Adjust TIRFA award on ongoing basis by means of a participation in excess return in cash flow and capital events. 795 OCEAN ONE PROPOSED TIF INCENTIVE CASH FLOW Year of operation:1 2 3 4 5 6 7 8 Calendar Year:2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Annual Ecalation Rate:0.0%0.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0% Taxable Value Prior to Redevelopment 114 N Federal 9,006,248 $9,006,248 $9,276,435 $9,554,729 $9,841,370 $10,136,611 $10,440,710 $10,753,931 $11,076,549 $11,408,846 $11,751,111 222 N Federal 1,410,649 $1,410,649 $1,452,968 $1,496,558 $1,541,454 $1,587,698 $1,635,329 $1,684,389 $1,734,920 $1,786,968 $1,840,577 Total 10,416,897 $10,416,897 $10,729,404 $11,051,286 $11,382,825 $11,724,309 $12,076,039 $12,438,320 $12,811,469 $13,195,813 $13,591,688 Ad Valorem Taxes Prior to Development 114 N Federal 185,579 $185,579 $191,146 $196,881 $202,787 $208,871 $215,137 $221,591 $228,239 $235,086 $242,139 222 N Federal 29,075 $29,075 $29,947 $30,846 $31,771 $32,724 $33,706 $34,717 $35,759 $36,831 $37,936 Total 214,654 $214,654 $221,094 $227,726 $234,558 $241,595 $248,843 $256,308 $263,997 $271,917 $280,075 Estimated Assessed/Taxable Value of Completed Project $102,280,157 $102,280,157 $105,348,562 $108,509,019 $111,764,290 $115,117,218 $118,570,735 $122,127,857 $125,791,693 $129,565,443 $133,452,407 pre-construction construction construction % Valuation of Completed Stabilized Project (if 0%, Prior AV)0%0%0%100%100%100%100%100%100%100%100% Taxable Value of Project $10,416,897 $10,416,897 $10,729,404 $108,509,019 $111,764,290 $115,117,218 $118,570,735 $122,127,857 $125,791,693 $129,565,443 $133,452,407 Project Incremental Value $0 $0 $0 $97,457,733 $100,381,465 $103,392,909 $106,494,696 $109,689,537 $112,980,223 $116,369,630 $119,860,719 City TIF Contribution @ Millage Rate =7.85 $0 $0 $0 $697,719 $718,651 $740,211 $762,417 $785,289 $808,848 $833,113 $858,107 County Contribution @ Millage Rate =4.50 $0 $0 $0 $399,967 $411,966 $424,324 $437,054 $450,166 $463,671 $477,581 $491,908 TIF Revenue Created by Project 12.35 $0 $0 $0 $1,097,686 $1,130,617 $1,164,535 $1,199,471 $1,235,455 $1,272,519 $1,310,694 $1,350,015 TIF Award @ Award Factor =95%$0 $0 $0 $1,042,802 $1,074,086 $1,106,308 $1,139,498 $1,173,682 $1,208,893 $1,245,160 $1,282,514 Cummulative of Above $0 $0 $1,042,802 $2,116,887 $3,223,196 $4,362,693 $5,536,376 $6,745,268 $7,990,428 $9,272,943 @ Award Factor % up to Total $ Amount 95%$11,500,000 $1,042,802 $1,074,086 $1,106,308 $1,139,498 $1,173,682 $1,208,893 $1,245,160 $1,282,514 NPV to TCO - 1/1/27 @ 4.0%$9,297,000 Total Remaining with CRA $14,202,000 $54,884 $56,531 $58,227 $59,974 $61,773 $63,626 $65,535 $67,501 NPV to TCO - 1/1/27 @ 4.0%$8,226,000 NPV to 1/1/25 @ 4.0%$7,605,000 5% of City Operating Millage Retained by City *$1,285,000 $54,884 $56,531 $58,227 $59,974 $61,773 $63,626 $65,535 $67,501 NPV to TCO - 1/1/27 @ 4.0%$876,000 NPV to 1/1/25 @ 4.0%$810,000 City Tax After CRA Sunset @ City Millage *7.85 $65,646,000 $0 $0 $0 $0 $0 $0 $0 $0 NPV to TCO - 1/1/27 @ 6.0%$738,000 NPV to 1/1/25 @ 6.0%$657,000 Total City Before & After CRA Sunset $66,931,000 NPV to TCO - 1/1/27 @ $1,614,000 NPV to 1/1/25 @ $1,467,000 * Not including City Operating Millage on base (pre-project) value Proposed Incentive Award = Award Factor x TIF Revenue created by Project TIF Revenue = 95% of Project Increment x (City + County Millage) less 4% early payment discount 796 8 OCEAN ONE PROPOSED TIF INCENTIVE CASH FLOW Year of operation:9 10 11 12 13 14 15 16 17 18 19 Calendar Year:2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 Annual Ecalation Rate:3.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0%3.0% Taxable Value Prior to Redevelopment 114 N Federal $12,103,644 $12,466,754 $12,840,756 $13,225,979 $13,622,758 $14,031,441 $14,452,384 $14,885,956 $15,332,534 $15,792,510 $16,266,286 222 N Federal $1,895,794 $1,952,668 $2,011,248 $2,071,586 $2,133,733 $2,197,745 $2,263,678 $2,331,588 $2,401,535 $2,473,582 $2,547,789 Total $13,999,439 $14,419,422 $14,852,004 $15,297,564 $15,756,491 $16,229,186 $16,716,062 $17,217,544 $17,734,070 $18,266,092 $18,814,075 Ad Valorem Taxes Prior to Development 114 N Federal $249,403 $256,885 $264,591 $272,529 $280,705 $289,126 $297,800 $306,734 $315,936 $325,414 $335,176 222 N Federal $39,074 $40,247 $41,454 $42,698 $43,979 $45,298 $46,657 $48,057 $49,498 $50,983 $52,513 Total $288,477 $297,131 $306,045 $315,227 $324,683 $334,424 $344,457 $354,790 $365,434 $376,397 $387,689 Estimated Assessed/Taxable Value of Completed Project $137,455,979 $141,579,658 $145,827,048 $150,201,859 $154,707,915 $159,349,153 $164,129,627 $169,053,516 $174,125,122 $179,348,875 $184,729,341 % Valuation of Completed Stabilized Project (if 0%, Prior AV)100%100%100%100%100%100%100%100%100%100%100% Taxable Value of Project $137,455,979 $141,579,658 $145,827,048 $150,201,859 $154,707,915 $159,349,153 $164,129,627 $169,053,516 $174,125,122 $179,348,875 $184,729,341 Project Incremental Value $123,456,540 $127,160,237 $130,975,044 $134,904,295 $138,951,424 $143,119,967 $147,413,566 $151,835,973 $156,391,052 $161,082,783 $165,915,267 $1 City TIF Contribution @ Millage Rate =7.85 $883,850 $910,366 $937,677 $965,807 $994,781 $1,024,624 $1,055,363 $1,087,024 $1,119,635 $1,153,224 $1,250,337 County Contribution @ Millage Rate =4.50 $506,666 $521,866 $537,522 $553,647 $570,257 $587,364 $604,985 $623,135 $641,829 $661,084 TIF Revenue Created by Project 12.35 $1,390,516 $1,432,231 $1,475,198 $1,519,454 $1,565,038 $1,611,989 $1,660,348 $1,710,159 $1,761,464 $1,814,308 $1,250,337 TIF Award @ Award Factor =95%$1,320,990 $1,360,620 $1,401,438 $1,443,481 $1,486,786 $1,531,389 $1,577,331 $1,624,651 $1,673,391 $1,723,592 $1,187,821 Cummulative of Above $10,593,933 $11,954,552 $13,355,990 $14,799,472 $16,286,258 $17,817,647 $19,394,978 $21,019,629 $22,693,019 $24,416,612 $25,604,432 @ Award Factor % up to Total $ Amount 95%$11,500,000 $1,320,990 $906,067 NPV to TCO - 1/1/27 @ 4.0%$9,297,000 Total Remaining with CRA $14,202,000 $69,526 $526,164 $1,475,198 $1,519,454 $1,565,038 $1,611,989 $1,660,348 $1,710,159 $1,761,464 $1,814,308 NPV to TCO - 1/1/27 @ 4.0%$8,226,000 NPV to 1/1/25 @ 4.0%$7,605,000 5% of City Operating Millage Retained by City *$1,285,000 $69,526 $71,612 $73,760 $75,973 $78,252 $80,599 $83,017 $85,508 $88,073 $90,715 NPV to TCO - 1/1/27 @ 4.0%$876,000 NPV to 1/1/25 @ 4.0%$810,000 City Tax After CRA Sunset @ City Millage *7.85 $65,646,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,250,337 NPV to TCO - 1/1/27 @ 6.0%$738,000 NPV to 1/1/25 @ 6.0%$657,000 Total City Before & After CRA Sunset $66,931,000 NPV to TCO - 1/1/27 @ $1,614,000 NPV to 1/1/25 @ $1,467,000 * Not including City Operating Millage on base (pre-project) value Proposed Incentive Award = Award Factor x TIF Revenue created by Project TIF Revenue = 95% of Project Increment x (City + County Millage) less 4% early payment discount 797 9 ASSUMPTIONS AND LIMITING CONDITIONS • Information provided by others for use in this analysis is believed to be reliable, but in no sense is guaranteed. All information concerning physical, market or cost data is from sources deemed reliable. No warranty or representation is made regarding the accuracy thereof, and is subject to errors, omissions, changes in price, rental, or other conditions. • The Consultant assumes no responsibility for legal matters nor for any hidden or unapparent conditions of the property, subsoils, structure or other matters which would materially affect the marketability, developability or value property. • The analysis assumes a continuation of current economic and real estate market conditions, without any substantial improvement or degradation of such economic or market conditions except as otherwise noted in the report. • Any forecasts of the effective demand for space are based upon the best available data concerning the market, but are projected under conditions of uncertainty. • Since any projected mathematical models are based on estimates and assumptions, which are inherently subject to uncertainty and variation depending upon evolving events, The Consultant does not represent them as results that will actually be achieved. • The report and analyses contained therein should not be regarded as constituting an appraisal or estimate of market value. • The analysis was undertaken to assist the client in evaluating and strategizing the potential transaction discussed in the report. It is not based on any other use, nor should it be applied for any other purpose. • Possession of this report or any copy or portion thereof does not carry with it the right of publication nor may the same be used for any other purpose by anyone without the previous written consent of the Consultant and, in any event, only in its entirety. • The Consultant shall not be responsible for any unauthorized excerpting or reference to this report. • The Consultant shall not be required to give testimony or to attend any governmental hearing regarding the subject matter of this report without agreement as to additional compensation and without sufficient notice to allow adequate preparation. 798 April 12, 2024 @ 1:30-3:00 pm 100 E. Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 RE: 114/222 N Federal Highway - TIF Incentive Negotiation Meeting BB1 Development, LLC (Hyperion Development Group) MEETING NOTES • Overall goal of meeting – get the most agreeable terms to take back to the Board • Tie TIRFA back to a specific site plan and provide minimum numbers of commercial space, units, parking, etc. allowing for diminutive changes (what is the base density/intensity?) • Under Attachment 15, section 3 all terms were agreed upon with the exception of adding “within the CRA” to hosting a job fair and also define the job placement consultant more • Green Building Items – all agreed as drafted • Dedicated workforce housing – none (non-negotiable) • Final terms agreed upon: o TIRFA TERM – 12 years o TIRFA AMOUNT - $9.9 million o PERCENTAGE – 95% o TIMELINE – 1 yr. from September 2024 to commence construction with one 6-month extension by the Board to not be unreasonably withheld o PARKING AMOUNT – 90 public parking spaces on the second floor of parking garage, plus 20 on-street parking with the contingency that up to 10 spaces are dependent on FDOT approval o PARKING MAINTENANCE – developers’ responsibility o PARKING REVENUE – developers 100% revenue until the TIRFA amount is reimbursed in full at which point the parking revenue will be shared in perpetuity. 20% of all public parking revenue will be shared with CRA in perpetuity • Other notes: o A minor site plan modification may be needed for the parking change o Add cure period regarding compliance section 6,8, & 9 799 April 24, 2024 @ 1:30-2:30 pm 100 E. Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 RE: 114/222 N Federal Highway - TIF Incentive Negotiation Meeting BB1 Development, LLC (Hyperion Development Group) In Attendance: Bonnie Miskel Tara Duhy Tim Tack Theresa Utterback Bonnie Nicklien MEETING NOTES • The agreement will not have a cap on rates regarding the public parking metered spaces – delete the paragraph referencing control of price • 20% Revenue share from the beginning vs. starting revenue sharing at the end of the TIRFA term. This is easier to manage and removes the need for a separate parking agreement • Bonnie Miskel to expand the section regarding the annual audit which will be the backup to support the revenue sharing • Added a “Confirmation of Contract” section by which the Developer will provide an affidavit by Jan 31, 2025 confirming a contract is in place for the overall project site • The affidavit will be attached as an Exhibit. Bonnie Miskel to draft for Tara’s review. Bonnie Miskel felt the deadline was fair and reasonable. They hope to be in permitting 6 months with the lending/loan commitment in place during the permit application review process • Bonnie Miskel to provide all other exhibits to make sure they are the latest and greats of each version (site plan, etc.) • One Exhibit will be added as a summary of all of the development timelines so it is an easier reference in the Agmt • The TIRFA Agmt will be placed on the May 14th agenda as an “update” item in case it is needed based on the Board’s discussion at the May 7th meeting. • Tara to add the notes based on our conversation today and provide the revised draft to Bonnie Miskel for her review tomorrow with plans to submit their final version to Tara by Friday, April 26th. 800 1 4883-0767-0203, v. 1 TAX INCREMENT REVENUE FUNDING AGREEMENT This Tax Increment Revenue Funding Agreement (hereinafter “Agreement”) entered into as of the _____ day of _______________, 2024, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as “CRA”), with a business address of 100 E. Ocean Avenue, Fourth Floor, Boynton Beach, Florida 33435, and BB1 DEVELOPMENT, LLC, a Delaware limited liability company, with a business address of 888 Biscayne Boulevard, Suite 101, Miami, Florida 33132 (hereinafter referred to as the “Developer”). RECITALS WHEREAS, Developer owns the property located at 114 and 222 North Federal Highway, Boynton Beach, Florida (“Property”) and intends to construct within the Property a new mixed-use development comprised of approximately 371 multi-family units with related amenities and approximately 25,000 square feet of commercial space as depicted in the Site Plan attached hereto as Exhibit “A” (hereinafter referred to as the “Project”); and WHEREAS, the Property is located within the Boynton Beach Community Redevelopment Area (“CRA Area”); and WHEREAS, in an effort to develop the Project to include public benefits, Developer has submitted that certain proposal dated January 10, 2024, related to the Project, which was later amended, a copy of which amended proposal is attached as Exhibit “B; and WHEREAS, Developer is required to submit a complete building permit application by September 13, 2024, pursuant to the Purchase and Development Agreement dated January 16, 2018, as amended by the First Amendment dated January 15, 2020, a copy of which is attached hereto as Exhibit “C;” and WHEREAS, Developer will revise the Site Plan (defined below) to provide an additional 31 parking spaces in addition to the amount approved in the Site Plan as of the Effective Date; and WHEREAS, the CRA has determined that the Project furthers the Boynton Beach Community Redevelopment Plan (“CRA Plan”); and WHEREAS, Developer has the knowledge, ability, skill, and resources to effectuate the construction and development of the Project; and 801 2 4883-0767-0203, v. 1 WHEREAS, the CRA has determined that a public-private partnership in which the CRA provides Tax Increment Revenue Funding for the Project will further the goals and objectives of the CRA Plan; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties hereby acknowledge, the Parties agree as follows: Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings, which shall apply to words in both the singular and plural forms of such words: 2.1. “Base Year” for determining Tax Increment Revenue from the Project shall be the year prior to Commencement of Construction. 2.3. “Certificate of Occupancy” means the certificate issued by the City pursuant to the City of Boynton Beach Building and Zoning Code indicating that a building or structure complies with all applicable City of Boynton Beach Building and Zoning Code requirements and that the same may be used for the purposes stated therein. 2.4. “City” means the City of Boynton Beach, Florida. 2.5. “Commencement of Construction” or “Commence Construction” means obtaining an official permit in hand for any of the construction activities contained herein and beginning to actually demolish, excavate or prepare the site for development of the Project in accordance with the City Building and Zoning Code and continuing consistently until completion of construction of the Project as applicable in accordance with the Florida Building Code. 2.6. “Community Outreach Partner” means the for-profit or non-profit group or organization selected by Developer with whom Developer shall coordinate on the issues and obligations in this Agreement pertaining to employment of City residents and jobs for Locally Owned Small Businesses. 2.7. “Completion of Construction” shall mean the date for which the Project is complete and the Certificate(s) of Occupancy have been issued for the Project by the appropriate governing authority. 2.8 “Contractor” means a general contractor, a subcontractor or any other business entering into a contract with the Developer related to the construction of the Project or part thereof. 2.9. "Effective Date" shall mean the date the last party to this Agreement executes this Agreement. 802 3 4883-0767-0203, v. 1 2.10. “Good Faith Effort” is considered to have been made when the respective parties have used reasonable means to comply with the associated directives and/or provisions set forth in this Agreement. 2.11. “Locally Owned Small Businesses” means any business that is wholly owned by individuals who reside in the City. If a business is owned by a corporation, then the corporation must be wholly owned by individuals who reside in the City. If the business is owned by a partnership or limited liability company, then at least 20% of its partners or members must reside in the City. 2.12 “Parking Improvements” means ninety (90) public parking spaces located on the second floor of the parking garage and twenty (20) on street parking spaces, ten (10) of which are contingent upon FDOT approval, restricted for use by the public in perpetuity. 2.13. “Pledged Project Increment Revenue” means an amount calculated by multiplying Tax Increment Revenue from the Project by an agreed upon percentage factor as provided for in this Agreement. .2.14. “Property” means the property subject to this Agreement upon which the Project shall be developed as more particularly described in "Exhibit D” hereto. 2.15. "Site Plan" shall mean the approved Site Plan attached hereto as Exhibit “A,” approved by the City of Boynton Beach, file # MSPM 23-003. 2.16. “Tax Increment Revenue” shall mean the amount deposited in the Redevelopment Trust Fund for the Boynton Beach Community Redevelopment Area, pursuant to Florida Statutes, Section 163.387, that is attributable to the Project. Section 3. Developer’s Obligations and Covenants. 3.1 Construction of the Project. Developer agrees to Commence Construction of the Project within two (2) years of the Effective Date of this Agreement. 3.1.1 The Project shall conform to the Site Plan and shall include the following, which shall hereinafter be referred to as “Improvements”: a. Developer shall construct a minimum of 365 multi-family residential units with related amenities. b. Developer shall construct a minimum of 22,000 square feet of commercial/retail space; c. Developer shall construct the Parking Improvements, which shall include 90 parking spaces located within the second floor of the parking structure, plus at least 803 4 4883-0767-0203, v. 1 10 on street surface parking spaces and an additional 10 on street parking spaces if allowed by FDOT, which all shall be designated clearly by signage as set aside for public use. Developer will be responsible for managing, maintaining, repairing and metering the Parking Improvements and all revenue derived from such metering shall be retained as revenue by Developer except that, an amount equal to 20% of all collected revenues for the Parking Improvements shall be provided to the CRA in perpetuity and in accordance with this section. Distribution of the 20% of the collected revenue for the Public Parking to the CRA (“CRA Share”) shall be made by January 10th of each year following the Completion of Construction. Along with the distribution of the CRA Share, Developer shall also provide to CRA, each year following Completion of Construction, a report detailing Public Parking usage and fees collected which shall be included in the Annual Performance Report required by Section 4 herein. d. Prior to Completion of Construction, CRA and Developer shall execute a parking easement (or, at the CRA’s option, a 99 year lease) for the benefit of the City and CRA which easement (or lease) shall ensure that the Parking Improvements shall be for reserved for use by the public in perpetuity. Such easement (or lease) shall run with the land and be recorded in the Official Record Books of Palm Beach County. e. Construction of the multi-family residential units for the Project shall be in compliance with the following green building standards:  Developer shall provide all air conditioners, all of which shall be Energy Star qualified with a minimum of SEER 16.  Developer shall provide roofing materials with an SRI 75 for all Project’s low-sloped roofs to achieve a minimum of 75% of the roof above the parking and the residential parts.  Developer shall provide energy efficient LED lighting fixtures for the Project and all the interior spaces.  Developer shall provide 100% Energy Star appliances within the Project.  Developer shall provide 4 EV level-2 charging stations over the minimum required by City Building and Zoning Code. f. Prior to and during the construction of the Project, the Developer shall:  Hire a job placement consultant during the construction period of this Agreement; 804 5 4883-0767-0203, v. 1  Host a job fair within the CRA;  When feasible, give priority to Contractors that are Locally Owned Small Businesses to participate in the construction of the Project;  Include in all contracts with Contractors requirements that the Contractors use Good Faith Efforts to hire and train City residents to participate in the construction of the Project;  Provide a list of job positions and descriptions to the Community Outreach Partner and agree to give priority to qualified job applicants referred by the Community Outreach Partner to participate in the construction of the Project;  Use Good Faith Efforts to offer permanent job positions resulting from the Project to qualified City residents;  Notify and refer job training and job placement opportunities to the Boynton Beach Community High School and South Tech Academy in Boynton Beach in the event each are able and willing to provide such training; and 3.1.2 The Site Plan may undergo minor modifications without requiring amendment to this Agreement so long as there is no alteration to the Improvements and the modified site plan is substantially similar to the Site Plan. For purposes of this section, any modification to the Site Plan that requires approval by the City Commission shall not be considered a minor modification. Any modification that is not a minor modification shall require the approval of this CRA; otherwise, this Agreement may be terminated by the CRA in its sole discretion. Section 4. Annual Performance Report. Commencing upon one year from the Effective Date and continuing until such time as the Agreement is terminated, Developer shall annually provide the CRA with a report (“Annual Performance Report”) for the Project indicating the status of Developer’s compliance with the requirements of this Agreement and evidencing that Developer has paid all property taxes for the Property for the preceding year. Such report must be submitted to the CRA no later than the last day of April for the preceding year. In addition, Developer shall present an annual status report to the CRA Board upon request. Section 5. Certification Requirements. 5.1 The following are conditions precedent to CRA’s annual disbursal of and Developer’s receipt of any Pledged Project Increment Revenue pursuant to this Agreement: 5.1.1 Developer must have timely provided its Annual Performance Report; 5.1.2 Upon receipt of the Annual Performance Report, at the next available CRA 805 6 4883-0767-0203, v. 1 meeting, the CRA shall review the Annual Performance Report for consistency with the requirements in Section 4 above and compliance with all conditions precedent for receiving Pledged Increment Revenue for the Project. Upon finding such compliance and consistency, CRA shall approve the Annual Performance Report, which approval shall not be unreasonably withheld; 5.1.3 The CRA has received Tax Increment Revenues from the Project on the Property subsequent to the Base Year and Completion of Construction; and 5.1.4 Developer is not in material default beyond any applicable notice and cure period under any terms or provisions of this Agreement. Developer shall not be entitled to any Pledged Project Increment Revenue payments for such calendar year if the Developer has failed to meet its obligations under this Agreement or is otherwise in material default beyond any applicable notice and cure period under the terms of this Agreement and has failed to sufficiently cure the default as provided for herein after appropriate notice of such default has bene given. There is no obligation by the CRA to disburse the Pledged Increment Revenue during any period of default by the Developer, provided that, once a default is cured, Developer shall receive its Pledged Increment Revenue payments for the remainder of the TIR Term, provided Developer is not in default under this Agreement. 5.2 Certification. 5.2.1 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1a. and 3.1.1.b. of this Agreement by providing a Certificate of Occupancy for all residential components of the Improvements and Certificate of Completion for all nonresidential components of the Improvements from the City of Boynton Beach indicating the 100 percent completion of all Improvements and demonstrating that the taxable value of all improvements have been placed on the Palm Beach County tax rolls for the Property. 5.2.2 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.c of this Agreement by demonstrating that it has constructed the Parking Improvements and by documenting signage and other means by which these Parking Improvements are clearly reserved for use by the public and excluded from use by residential and commercial units that are part of the Project. 5.2.3 Developer shall confirm in its Annual Performance Report that it has met its obligation under Section 3.1.1.d of this Agreement. 5.2.4 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.e of this Agreement by: a. Demonstrating that it hired and utilized the services of a job placement consultant and by reporting the job placement consultant’s activities during 806 7 4883-0767-0203, v. 1 construction of the Project; b. Demonstrating that it held a job fair in the CRA Area; and c. Requiring all Contractors covered by the terms of this Agreement to provide annual copies of its records, reports or any other information necessary to monitor compliance with the provisions of Section 3.1.1e of this Agreement and require all Contractors to submit annual payrolls to the Developer that include the following information: name, address and the number of hours worked for the period, until a Certificate of Occupancy is issued for at least 90% of the residential units of the Project. Section 6. Pledged Project Increment Revenue. 6.1 Formula and Term. 6.1.1 The amount of the Pledged Project Increment Revenue to be paid to Developer pursuant to this Agreement is capped at Nine Million Nine Hundred Thousand ($9,900,000.000) Dollars (“TIR Cap”) based on the following formula: The CRA hereby agrees to pledge and assign to Developer pursuant to the terms of this Agreement, an annual amount which equals ninety-five percent (95%) of the Tax Increment Revenue, for a twelve (12) year term, not to exceed a total of Nine Million Nine Hundred Thousand Dollars ($9,900,000.00) Dollars commencing on the last day of the year, provided that all of the following conditions are met (“TIR Term”): A. The Developer has achieved Completion of Construction; B. All elements of the Project have been placed on the Tax Roll; C. The CRA has received Tax Increment Revenue from the Project; D. The Annual Performance Report is received and found to be sufficient by the CRA, which finding shall not be unreasonably withheld, conditioned or delayed; and E. Developer is not in default under this Agreement. Provided the above conditions precedent are satisfied, the CRA shall disburse the Tax Increment Revenue to the Developer as soon as practicable after the CRA receives the Tax Increment Revenue. 6.2 No Prior Pledge of Pledged Project Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by 807 8 4883-0767-0203, v. 1 the CRA for the period covered by the term of this Agreement. 6.3 Form of Payment. Payment shall be in the form of a CRA check made payable to the Developer. No payment made under this Agreement shall be conclusive evidence of the performance of this Agreement by Developer, either wholly or in part, and no payment shall be construed to relieve Developer of obligations under this Agreement or to be an acceptance of faulty or incomplete rendition of Developer’s obligations under this Agreement. Section 7. Notice and Contact. Any notice or other document required or allowed to be given pursuant to this Agreement shall be in writing and shall be delivered personally, or by recognized overnight courier or sent by certified mail, postage prepaid, return receipt requested. The use of electronic communication is not considered as providing proper notice pursuant to this Agreement. If to CRA, such notice shall be addressed to: Timothy Tack, Acting Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, Florida 33435 With a copy to: Kathryn B. Rossmell, Esq. Lewis, Longman & Walker, P.A. 360 South Rosemary Avenue Suite 1100 West Palm Beach, Florida 33401 If to Developer, such notice shall be addressed to: Mr. Robert Vecsler BB1 Development, LLC 888 Biscayne Boulevard, Suite 101 Miami, Florida 33132 With a copy to: Bonnie Miskel, Esq. Dunay, Miskel and Backman, LLP 14 SE 4th Street, Suite 36 Boca Raton, FL 33432 808 9 4883-0767-0203, v. 1 Section 8. Default. The failure of Developer to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. The CRA shall deliver written notice to the Developer of such failure in accordance with the Notice Provision herein, in which case, the Developer shall have thirty (30) days after receipt of said notice from the CRA to cure such default. Notwithstanding anything to the contrary herein, if such violation or failure will reasonably require longer than thirty (30) days to cure, and so long as the Developer begins and continuously prosecutes the curing of the same to completion with due diligence, the Developer shall have such additional time as reasonably necessary to remedy such failure of violation. If Developer fails to cure the default as provided herein, the CRA may terminate this Agreement and all obligations for payment of Pledged Project Increment Revenue to Developer shall cease. Section 9. Termination. Unless earlier terminated pursuant to the terms herein, this Agreement shall automatically terminate upon the earlier of (a) last disbursement of Pledged Project Increment Revenue to Developer for the Project; (b) within five (5) years of the Effective Date if the Developer has not completed construction of the Project; or (c) on September 30, 2025, if the Developer has failed to commence construction of the Project subject to force majeure, except that Developer may request from the CRA one six (6) month extension which request shall not be unreasonably withheld so long as Developer has shown good faith efforts to comply with this deadline. Either Party may elect to terminate this Agreement by providing 45 days written notice to the other Party upon one or more of the following occurrences: a. The default of either Party, if such default is not cured within the time prescribed by this Agreement; b. The Parties enter into a mutually agreed upon, written Addendum, the effect of which is to terminate this Agreement. Section 10. Miscellaneous Provisions. 10.1 Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the development of the Project, whether such damage or injury occurs before, during, or after the construction of the Project or the term of this Agreement. Developer hereby forever waives, discharges, and releases the CRA, its agents, and its employees, to the fullest extent the law allows, from any liability for any damage or injury sustained by Developer. This waiver, discharge, and release specifically include negligence by the CRA, its agents, or its employees, to the fullest extent the law allows. 10.2 Indemnification. Developer shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property or other damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of Developer. Nothing in this Agreement shall be deemed to 809 10 4883-0767-0203, v. 1 affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This section shall not be construed to require Developer to indemnify the CRA for the CRA’s own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 10.3 Assignment. This Agreement may only be assigned by the Developer to record owners of the Property with the prior written consent of the CRA, which consent shall not be unreasonably withheld, provided, however, that any assignee hereto shall specifically assume all of the obligations of and benefits to the Developer under this Agreement. 10.4 Successors and Assigns. The CRA and Developer each binds itself and its partners, successors, executors, administrators and assigns to the other party and to the partners, successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and the Developer. 10.5 No Discrimination. Developer shall not discriminate against any person on the basis of race, color, religion, ancestry, national origin, age, sex, marital status, sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement. 10.6 No Partnership, Etc. Developer agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership, joint venture, or employee relationship. It is specifically understood that Developer is an independent contractor and that no employer/employee or principal/agent is or shall be created nor shall exist by reason of this Agreement or the performance under this Agreement. 10.7 Public Records: The CRA is a public agency subject to Chapter 119, Florida Statutes. Developer shall comply with Florida’s Public Records Law. Specifically, the Developer shall: a. Keep and maintain public records required by the CRA to perform the public services provided for in this Agreement; b. Upon request from the CRA’s custodian of public records, provide the CRA with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in this chapter or as otherwise provided by law. c. Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the contract if Developer does not transfer the records to the CRA. d. Upon completion of the contract, transfer, at no cost, to the CRA all public records in possession of Developer or keep and maintain public records required by the CRA to perform the service. If Developer transfers all public records to the 810 11 4883-0767-0203, v. 1 public agency upon completion of the contract, Developer shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If Developer keeps and maintains public records upon completion of the contract, Developer shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the CRA, upon request from the CRA’s custodian of public records, in a format that is compatible with the information technology systems of the CRA. IF DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO DEVELOPER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 100 East Ocean Avenue, 4th Floor, Boynton Beach, Florida 33435; or TackT@bbfl.us. 10.8 Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 10.9 Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 10.10 Agreement Deemed to be Drafted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue of the fact that one party or its attorney drafted all or any part thereof. Any ambiguity found to exist shall be resolved by construing the terms of this Agreement fairly and reasonably in accordance with the purpose of this Agreement. 10.11 Governing Law, Jurisdiction, and Venue. The terms and provisions of this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County, Florida, for all purposes, to which the Parties expressly agree and submit. 10.12 Independent Advice. The Parties declare that the terms of this Agreement have been read and are fully understood. The Parties understand that this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 811 12 4883-0767-0203, v. 1 10.13 Severability. If any part of this Agreement is found invalid or unenforceable by any court, such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the Parties contained herein are not materially prejudiced and if the intentions of the Parties can continue to be achieved. To that end, this Agreement is declared severable. 10.14 Voluntary Waiver of Provisions. The CRA may, in its sole and absolute discretion, waive any requirement of Developer contained in this Agreement. 10.15 Compliance with Laws. In its performance under this Agreement, Developer shall comply with all applicable federal and state laws and regulations and all applicable Palm Beach County, City of Boynton Beach, and CRA ordinances and regulations. 10.16 Survival. The provisions of this Agreement regarding public records, indemnity, and waiver shall survive the expiration or termination of this Agreement and remain in full force and effect. 10.17 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire, floods, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, pandemics, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority, or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s) of any such delay(s). All terms contained herein shall be subject to Force Majeure. 10.18 Computation of Time. Any reference herein to time periods which are not measured in Business Days and that are less than six (6) days shall not include Saturdays, Sundays, and legal holidays in the computation thereof. Any period provided for in this Agreement which ends on a Saturday, Sunday, or legal holiday shall extend to 5 p.m. on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the computation thereof. For purposes of this Agreement, Business Days shall mean Monday through Friday but shall exclude state and federal holidays. 10.19 Effective Date. This Agreement will become effective upon the date and time the last party executes this Agreement. IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES: BB1 DEVELOPMENT, LLC, a Delaware limited liability company (signature of witness) 812 13 4883-0767-0203, v. 1 By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF __________________ COUNTY OF ________________ BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ___ day of __________________, 2024, by ___________________________________________, as ____________________________________ of BB1 DEVELOPMENT, LLC, a Delaware limited liability company, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of _____________________ __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped WITNESSES: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) 813 14 4883-0767-0203, v. 1 (printed name of witness) (address of witness) STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ____ day of ________________, 2024, by ___________________________, as __________________ of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of Florida __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 814 815 816 OCEAN ONE 114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FL OWNER:ARCHITECT:CIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:LANDSCAPE ARCHITECT: ARQUITECTONICA 2900 OAK AVENUE, MIAMI, FLORIDA 33133 305.372.1812 HYPERION GROUP 1690 S CONGRESS AVE #100. DELRAY BEACH, FL 33445 KIMLEY HORN 561.330.2345 2900 OAK AVENUE, MIAMI, FLORIDA 3313305.372.1812 TEL GEO ARQUITECTONICA 305.372.1175 FAX888 Biscane Blvd, Suite 101Miami, FL 33132 SITE PLAN APPROVAL FEBRUARY 2023 SITE PLAN APPROVAL 24 FEBRUARY 2023 817 818 A0-01LOCATION / ZONING MAP©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXLOCATION / ZONING MAP819 PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ARTRETAILLOADINGCOMMERCIAL5319 SFAMENITYSPACETRASHRETAILFITNESS3827 SFSPA1091 SFLOBBYCOMMERCIAL9254 SFCOMMERCIAL2295 SFCOMMERCIAL6423 SFCOMMERCIAL2316 SFFFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVD43' @ 8.1%0102030405060708091011121314151617181920FFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-6" NAVD"STOP" SIGN"STOP" SIGNR 5 'R5'62'-8"62'-8"92'-11"10'8'2'-6"8'10'10'8'10'8'2'-6"2'-6"10'2'-6"7'-6"10'-6"2'-6"2'-6"10'10'8'2'-6"8'-8"20'-5"WALL ANDFENCES HEIGHT:8'FTSEE A1-40137'-4"28'-9" 2'5" 10'24'18'-6" @ 9.5%RESILOADINGTR.24'56 PARKINGSPACESRAMP UP 15'-0"116' @ 12.9%MEP31' @ 10.4%FFE 6'-3" NAVDFFE 7'-0"NAVDR 5 'R5'R 5 'R5'R5'PACKAGE ROOM 543 SFRR51'-7"22'R15'26'-8"MANAGEMENTOFFICEMAIL 543 SFMEPRRRRRR22'22' 35' 35'158'-3"107'-11"64'143'-1"93'-4"170'-4"367'-7"64'64'108'-5" 11' 33'-2"8'10'2'-6"32'-7"8'8'10'2'-6"8' 24'28'25'17'-10"107'-11"134'-4"131'-4"78'-5"75'-6"64'134'-4"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACK64'CANOPY ATDROP-OFF78'-7"108'-5"LOBBYFFE 7'-0" NAVD2 TRASH CHUTES:1 REGULAR1 RECYCLINGRESIDENTIAL BIKESTORAGE (54 SPACES)25'CANOPYCANOPYCANOPYCANOPYCANOPYCANOPYCANOPY16 BIKES16 BIKESPLANTERPLANTERPLANTERPLANTERPLANTERPLANTERNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLVEHICULAR RATEDPRECAST CONCRETEUNIT PAVERS / DARKCOBBLESMASTER PLAN / SITE PLAN1/25" = 1'-0''©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-02MASTER PLAN / SITE PLANLEGENDPROPERTY LINESETBACK LINE SIDEWALKTREE PLANS - INDICATED IN LANDSCAPE PLANSSERVICE AREA - CIRCULATIONSPOOL SEATINGRETAILRESIDENTIAL - AMENITIES0'30'60'10'5'15'FPL EASEMENTSTEP BACK LINEF&B SEATINGBICYCLES - REFER TO LANDSCAPE PLANFOR SPECIFICATIONSSTREET LIGHTING POLE - REFER TO CIVIL PLANFOR LOCATIONS AND PHOTOMETRICS820 24'NORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE 549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRMSTRMSTRMSTRM STRM STRM STRM STRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRMSTRMSTRMSTRMSTRMSTRM STRM STRMSTRMSTRMSTRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRMSTRMSTRMSTRMSTRMSTRMSS SS SS SS SS SS SS SS SS SS SS SS SSSSSSSSSSSSSSSSSS SS SS SSSSSSSSSSGASGASGASGASGASGASGAS GASGASGASGASGASGASGASGASGAS GASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGAS FFFFFFFFFFFFFFFFFFFFF F FFWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W 15'15'15'15'15'15'25'25' 30'-5"295'15'15'15'15'25'25'EASEMENT AND UTILITY LINES1/25" = 1'-0''©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-03EASEMENT AND UTILITY LINESLEGENDSEWER PIPE0'30'60'10'5'15'SIDEWALK EASEMENTFP&L EASEMENTGASSTRMFWSSGAS LINESEWER DRAINFIRE LINEWATER LINESIGHT LINE TRIANGLESROAD MARKINGSPROPERTY LINECENTERLINE ROWCL821 A0-04SITE DATASITE DATA©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAX822 ©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-05MASSING STUDYNE VIEWBOYNTON BEACH BLVD / NORTH FEDERAL HIGHWAYRETAILAMENITIESRESIDENTIAL UNITSMECHANICAL ROOFLEGEND823 PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLOPEN SPACE63,497.5 SQ. FT.39.25 %VEHICULAR USE AREA6,267.9 SQ. FT.3.87 %BUILDING COVERAGE AREA - RESIDENTIAL AND RETAIL59,228.8 SQ. FT.36.61 %BUILDING COVERAGE AREA - GARAGE27,154.6 SQ. FT.16.78 %SIDEWALKS & PAVED AREA36,408.0 SQ. FT.22.5 %GREEN AREA12.7 %20,582.5 SQ. FT.A0-06VEHICULAR USE AREA & GREENAREA CALCULATIONS60'15'5'30'100'©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXSITE PROPERTY SIZE: 161,789 SQFT1/50" = 1'-0''1/50" = 1'-0''1/50" = 1'-0''1/50" = 1'-0''824 24'PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ARTRETAILLOADINGCOMMERCIAL5319 SFAMENITYSPACETRASHRETAILFITNESS3827 SFSPA1091 SFLOBBYCOMMERCIAL9254 SFCOMMERCIAL2295 SFCOMMERCIAL6423 SFCOMMERCIAL2316 SFFFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVD43' @ 8.1%0102030405060708091011121314151617181920FFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-6" NAVD"STOP" SIGN"STOP" SIGNR5'R5'62'-8"62'-8"92'-11"10'8'-8"20'-5"WALL ANDFENCES HEIGHT:8'FTSEE A1-40137'-4"28'-9"2'5"10'24'18'-6" @ 9.5%RESILOADINGTR.24'56 PARKINGSPACESRAMP UP 15'-0"116' @ 12.9%MEP31' @ 10.4%FFE 6'-3" NAVDFFE 7'-0"NAVDR 5 'R5'R5'R5'R5'PACKAGE ROOM 543 SFRR51'-7"22'R15'26'-8"MANAGEMENTOFFICEMAIL 543 SFMEPRRRRRR22'22'35' 35'158'-3"107'-11"64'143'-1"93'-4"170'-4"367'-7"64'64'108'-5"11' 33'-2"8'10'2'-6"32'-7"8'8'10'2'-6"8'24'28'25'17'-10"107'-11"134'-4"131'-4"78'-5"75'-6"64'134'-4"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACK64'CANOPY ATDROP-OFF78'-7"108'-5"LOBBYFFE 7'-0" NAVD2 TRASH CHUTES:1 REGULAR1 RECYCLINGRESIDENTIAL BIKESTORAGE (54 SPACES)25'CANOPYCANOPYCANOPYCANOPYCANOPYCANOPYCANOPY16 BIKES16 BIKESPLANTERPLANTERPLANTERPLANTERPLANTERPLANTERNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLVEHICULAR RATEDPRECAST CONCRETEUNIT PAVERS / DARKCOBBLESNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCL343234343434 3428283234 34342828322828 343434343434282834 3434343434 34343434342834 3434 3434 28 3432 343424'24' RAMP UP 8'-6"116' @ 12.9%RAMP DN 15'-0"9'18' 18'12'145' @ 5.8%24'TR64'108'-5"64'UNIT A(1BR 1BTH)725 SQ. 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FT.STG12'-2"21'-2"64'34'-3"160'-11"18'-1"30'-5"12'-1"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACKPARKING99 SPACESLEVEL 20'120'30'10'60'1/25" = 1'-0''200'©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-10PUBLIC PEDESTRIANCIRCULATION DIAGRAMLEGENDPUBLIC PEDESTRIAN CIRCULATION DIAGRAMGROUND FLOOR1/25" = 1'-0''0'120'30'10'60'200'LEGENDPUBLIC PEDESTRIAN CIRCULATION DIAGRAMTHE RETAIL USERS HAVE ACCESS TO THE GARAGE ON LEVELS 01 AND 02.THE LEVELS ARE CONNECTED WITH 1 DEDICATED ELEVATOR, SERVING ONLY THESE 2 LEVELS.THE REGULAR CONNECTION BY THE STAIR WILL BE PROVIDED BY THE SOUTH-EAST STAIR,WITH A DIRECT ACCESS TO NE 6TH COURT.825 826 827 828 829 830 831 832 833 834 835 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 855 856 857 858 859 860 861 862 863 864 865 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887 888 889 890 891 892 893 894 895 896 897 898 899 900 901 902 903 904 905 906 907 908 909 910 911 912 913 914 915 916 917 918 919 1 4858-2803-4238, v. 1 TAX INCREMENT REVENUE FUNDING AGREEMENT This Tax Increment Revenue Funding Agreement (hereinafter “Agreement”) entered into as of the _____ day of _______________, 2024, by and between: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III of the Florida Statutes, (hereinafter referred to as “CRA”), with a business address of 100 E. Ocean Avenue, Fourth Floor, Boynton Beach, Florida 33435, and BB1 DEVELOPMENT, LLC, a Delaware limited liability company, with a business address of 888 Biscayne Boulevard, Suite 101, Miami, Florida 33132 (hereinafter referred to as the “Developer”). RECITALS WHEREAS, Developer owns the property located at 114 and 222 North Federal Highway, Boynton Beach, Florida (“Property”) and intends to construct within the Property a new mixed-use development comprised of approximately 371 multi-family units with related amenities and approximately 25,000 square feet of commercial space as depicted in the Site Plan attached hereto as Exhibit “A” (hereinafter referred to as the “Project”); and WHEREAS, the Property is located within the Boynton Beach Community Redevelopment Area (“CRA Area”); and WHEREAS, in an effort to develop the Project to include public benefits, Developer has submitted that certain proposal dated January 10, 2024, related to the Project, which was later amended, a copy of which amended proposal is attached as Exhibit “B; and WHEREAS, Developer is required to submit a complete building permit application by September 13, 2024, pursuant to the Purchase and Development Agreement dated January 16, 2018, as amended by the First Amendment dated January 15, 2020, a copy of which is attached hereto as Exhibit “C;” and WHEREAS, Developer will revise the Site Plan (defined below) to provide an additional 31 parking spaces in addition to the amount approved in the Site Plan as of the Effective Date; and WHEREAS, the CRA has determined that the Project furthers the Boynton Beach Community Redevelopment Plan (“CRA Plan”); and WHEREAS, Developer has the knowledge, ability, skill, and resources to effectuate the construction and development of the Project; and 920 2 4858-2803-4238, v. 1 WHEREAS, the CRA has determined that a public-private partnership in which the CRA provides Tax Increment Revenue Funding for the Project will further the goals and objectives of the CRA Plan; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both Parties hereby acknowledge, the Parties agree as follows: Section 1. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. Section 2. Definitions. As used in this Agreement, the following terms shall have the following meanings, which shall apply to words in both the singular and plural forms of such words: 2.1. “Base Year” for determining Tax Increment Revenue from the Project shall be the year prior to Commencement of Construction. 2.3. “Certificate of Occupancy” means the certificate issued by the City pursuant to the City of Boynton Beach Building and Zoning Code indicating that a building or structure complies with all applicable City of Boynton Beach Building and Zoning Code requirements and that the same may be used for the purposes stated therein. 2.4. “City” means the City of Boynton Beach, Florida. 2.5. “Commencement of Construction” or “Commence Construction” means obtaining an official permit in hand for any of the construction activities contained herein and beginning to actually demolish, excavate or prepare the site for development of the Project in accordance with the City Building and Zoning Code and continuing consistently until completion of construction of the Project as applicable in accordance with the Florida Building Code. 2.6. “Community Outreach Partner” means the for-profit or non-profit group or organization selected by Developer with whom Developer shall coordinate on the issues and obligations in this Agreement pertaining to employment of City residents and jobs for Locally Owned Small Businesses. 2.7. “Completion of Construction” shall mean the date for which the Project is complete and the Certificate(s) of Occupancy have been issued for the Project by the appropriate governing authority. 2.8 “Contractor” means a general contractor, a subcontractor or any other business entering into a contract with the Developer related to the construction of the Project or part thereof. 2.9. "Effective Date" shall mean the date the last party to this Agreement executes this Agreement. 921 3 4858-2803-4238, v. 1 2.10. “Good Faith Effort” is considered to have been made when the respective parties have used reasonable means to comply with the associated directives and/or provisions set forth in this Agreement. 2.11. “Locally Owned Small Businesses” means any business that is wholly owned by individuals who reside in the City. If a business is owned by a corporation, then the corporation must be wholly owned by individuals who reside in the City. If the business is owned by a partnership or limited liability company, then at least 20% of its partners or members must reside in the City. 2.12 “Parking Improvements” means ninety (90) public parking spaces located on the second floor of the parking garage and twenty (20) on street parking spaces, ten (10) of which are contingent upon FDOT approval, restricted for use by the public in perpetuity. 2.13. “Pledged Project Increment Revenue” means an amount calculated by multiplying Tax Increment Revenue from the Project by an agreed upon percentage factor as provided for in this Agreement. .2.14. “Property” means the property subject to this Agreement upon which the Project shall be developed as more particularly described in "Exhibit D” hereto. 2.15. "Site Plan" shall mean the approved Site Plan attached hereto as Exhibit “A,” approved by the City of Boynton Beach, file # MSPM 23-003. 2.16. “Tax Increment Revenue” shall mean the amount deposited in the Redevelopment Trust Fund for the Boynton Beach Community Redevelopment Area, pursuant to Florida Statutes, Section 163.387, that is attributable to the Project. Section 3. Developer’s Obligations and Covenants. 3.1 Construction of the Project. Developer agrees to Commence Construction of the Project within two (2) years of the Effective Date of this Agreement. 3.1.1 The Project shall conform to the Site Plan and shall include the following, which shall hereinafter be referred to as “Improvements”: a. Developer shall construct a minimum of 365 multi-family residential units with related amenities. b. Developer shall construct a minimum of 22,000 square feet of commercial/retail space. c. Developer shall construct the Parking Improvements, which shall include 90 parking spaces located within the second floor of the parking structure, plus at least 922 4 4858-2803-4238, v. 1 10 on street surface parking spaces and an additional 10 on street parking spaces if allowed by FDOT, which all shall be designated clearly by signage as set aside for public use. Developer will be responsible for managing, maintaining, repairing and metering the Parking Improvements and all revenue derived from such metering shall be retained as revenue by Developer except that, an amount equal to 20% of all collected revenues for the Parking Improvements shall be provided to the CRA in perpetuity and in accordance with this section. Distribution of the 20% of the collected revenue for the Public Parking to the CRA (“CRA Share”) shall be made by January 10th of each year following the Completion of Construction. Along with the distribution of the CRA Share, Developer shall also provide to CRA, each year following Completion of Construction, a report detailing Public Parking usage and fees collected which shall be included in the Annual Performance Report required by Section 4 herein. d. Prior to Completion of Construction, CRA and Developer shall execute a parking easement and contract (or, at the CRA’s option, a 99 year lease) for the benefit of the City and CRA which easement and contract (or lease) shall ensure that the Parking Improvements shall be for reserved for use by the public in perpetuity and the CRA receives the CRA Share in perpetuity. Such easement (or lease) shall run with the land and be recorded in the Official Record Books of Palm Beach County. e. Construction of the multi-family residential units for the Project shall be in compliance with the following green building standards:  Developer shall provide all air conditioners, all of which shall be Energy Star qualified with a minimum of SEER 16.  Developer shall provide roofing materials with an SRI 75 for all Project’s low-sloped roofs to achieve a minimum of 75% of the roof above the parking and the residential parts.  Developer shall provide energy efficient LED lighting fixtures for the Project and all the interior spaces.  Developer shall provide 100% Energy Star appliances within the Project.  Developer shall provide 4 EV level-2 charging stations over the minimum required by City Building and Zoning Code. f. Prior to and during the construction of the Project, the Developer shall:  Hire a job placement consultant during the construction period of this Agreement;  Host a job fair within the CRA; 923 5 4858-2803-4238, v. 1  When feasible, give priority to Contractors that are Locally Owned Small Businesses to participate in the construction of the Project;  Include in all contracts with Contractors requirements that the Contractors use Good Faith Efforts to hire and train City residents to participate in the construction of the Project;  Provide a list of job positions and descriptions to the Community Outreach Partner and agree to give priority to qualified job applicants referred by the Community Outreach Partner to participate in the construction of the Project;  Use Good Faith Efforts to offer permanent job positions resulting from the Project to qualified City residents; and  Notify and refer job training and job placement opportunities to the Boynton Beach Community High School and South Tech Academy in Boynton Beach in the event each are able and willing to provide such training. 3.1.2 The Site Plan may undergo minor modifications without requiring amendment to this Agreement so long as there is no alteration to the Improvements and the modified site plan is substantially similar to the Site Plan. For purposes of this section, any modification to the Site Plan that requires approval by the City Commission shall not be considered a minor modification. Any modification that is not a minor modification shall require the approval of this CRA; otherwise, this Agreement may be terminated by the CRA in its sole discretion. Section 4. Annual Performance Report. Commencing upon one year from the Effective Date and continuing until such time as the Agreement is terminated, Developer shall annually provide the CRA with a report (“Annual Performance Report”) for the Project indicating the status of Developer’s compliance with the requirements of this Agreement and evidencing that Developer has paid all property taxes for the Property for the preceding year. Such report must be submitted to the CRA no later than the last day of April for the preceding year. In addition, Developer shall present an annual status report to the CRA Board upon request. Section 5. Certification Requirements. 5.1 The following are conditions precedent to CRA’s annual disbursal of and Developer’s receipt of any Pledged Project Increment Revenue pursuant to this Agreement: 5.1.1 Developer must have timely provided its Annual Performance Report; 5.1.2 Upon receipt of the Annual Performance Report, at the next available CRA meeting, the CRA shall review the Annual Performance Report for consistency with the requirements in Section 4 above and compliance with all conditions precedent for 924 6 4858-2803-4238, v. 1 receiving Pledged Increment Revenue for the Project. Upon finding such compliance and consistency, CRA shall approve the Annual Performance Report, which approval shall not be unreasonably withheld; 5.1.3 The CRA has received Tax Increment Revenues from the Project on the Property subsequent to the Base Year and Completion of Construction; and 5.1.4 Developer is not in material default beyond any applicable notice and cure period under any terms or provisions of this Agreement. Developer shall not be entitled to any Pledged Project Increment Revenue payments for such calendar year if the Developer has failed to meet its obligations under this Agreement or is otherwise in material default beyond any applicable notice and cure period under the terms of this Agreement and has failed to sufficiently cure the default as provided for herein after appropriate notice of such default has bene given. There is no obligation by the CRA to disburse the Pledged Increment Revenue during any period of default by the Developer, provided that, once a default is cured, Developer shall receive its Pledged Increment Revenue payments for the remainder of the TIR Term, provided Developer is not in default under this Agreement. 5.2 Certification. 5.2.1 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.a. and 3.1.1.b. of this Agreement by providing a Certificate of Occupancy for all residential components of the Improvements and Certificate of Completion for all nonresidential components of the Improvements from the City of Boynton Beach indicating the 100 percent completion of all Improvements and demonstrating that the taxable value of all improvements have been placed on the Palm Beach County tax rolls for the Property. 5.2.2 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.c of this Agreement by demonstrating that it has constructed the Parking Improvements and by documenting signage and other means by which these Parking Improvements are clearly reserved for use by the public and excluded from use by residential and commercial units that are part of the Project. 5.2.3 Developer shall confirm in its Annual Performance Report that it has met its obligations under Section 3.1.1.d and 3.1.1.e of this Agreement. 5.2.4 Developer shall certify in its Annual Performance Report that it has met its obligation under Section 3.1.1.f of this Agreement by: a. Demonstrating that it hired and utilized the services of a job placement consultant and by reporting the job placement consultant’s activities during construction of the Project; b. Demonstrating that it held a job fair in the CRA Area; and 925 7 4858-2803-4238, v. 1 c. Requiring all Contractors covered by the terms of this Agreement to provide annual copies of its records, reports or any other information necessary to monitor compliance with the provisions of Section 3.1.1e of this Agreement and require all Contractors to submit annual payrolls to the Developer that include the following information: name, address and the number of hours worked for the period, until a Certificate of Occupancy is issued for at least 90% of the residential units of the Project. Section 6. Pledged Project Increment Revenue. 6.1 Formula and Term. 6.1.1 The amount of the Pledged Project Increment Revenue to be paid to Developer pursuant to this Agreement is capped at Nine Million ($9,000,000.000) Dollars (“TIR Cap”) based on the following formula: The CRA hereby agrees to pledge and assign to Developer pursuant to the terms of this Agreement, an annual amount which equals ninety-five percent (95%) of the Tax Increment Revenue, for a twelve (12) year term, not to exceed a total of Nine Million Dollars ($9,000,000.00) commencing on the last day of the year, provided that all of the following conditions are met (“TIR Term”): A. The Developer has achieved Completion of Construction; B. All elements of the Project have been placed on the Tax Roll; C. The CRA has received Tax Increment Revenue from the Project; D. The Annual Performance Report is received and found to be sufficient by the CRA, which finding shall not be unreasonably withheld, conditioned or delayed; and E. Developer is not in default under this Agreement. Provided the above conditions precedent are satisfied, the CRA shall disburse the Tax Increment Revenue to the Developer as soon as practicable after the CRA receives the Tax Increment Revenue. 6.2 No Prior Pledge of Pledged Project Increment Revenues. The CRA warrants and represents that the Pledged Project Increment Revenues are not the subject of any prior pledge by the CRA and agrees that such revenues shall not be assigned, pledged, hypothecated or secured by the CRA for the period covered by the term of this Agreement. 6.3 Form of Payment. Payment shall be in the form of a CRA check made payable to the Developer. No payment made under this Agreement shall be conclusive evidence of the 926 8 4858-2803-4238, v. 1 performance of this Agreement by Developer, either wholly or in part, and no payment shall be construed to relieve Developer of obligations under this Agreement or to be an acceptance of faulty or incomplete rendition of Developer’s obligations under this Agreement. Section 7. Notice and Contact. Any notice or other document required or allowed to be given pursuant to this Agreement shall be in writing and shall be delivered personally, or by recognized overnight courier or sent by certified mail, postage prepaid, return receipt requested. The use of electronic communication is not considered as providing proper notice pursuant to this Agreement. If to CRA, such notice shall be addressed to: Timothy Tack, Acting Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, Florida 33435 With a copy to: Kathryn B. Rossmell, Esq. Lewis, Longman & Walker, P.A. 360 South Rosemary Avenue Suite 1100 West Palm Beach, Florida 33401 If to Developer, such notice shall be addressed to: Mr. Robert Vecsler BB1 Development, LLC 888 Biscayne Boulevard, Suite 101 Miami, Florida 33132 With a copy to: Bonnie Miskel, Esq. Dunay, Miskel and Backman, LLP 14 SE 4th Street, Suite 36 Boca Raton, FL 33432 Section 8. Default. The failure of Developer to comply with the provisions set forth in this Agreement shall constitute a default and breach of this Agreement. The CRA shall deliver written notice to the Developer of such failure in accordance with the Notice Provision herein, in which case, the Developer shall have thirty (30) days after receipt of said notice from the CRA to cure such default. Notwithstanding anything to the contrary herein, if such violation or failure will reasonably require longer than thirty (30) days to cure, and so long 927 9 4858-2803-4238, v. 1 as the Developer begins and continuously prosecutes the curing of the same to completion with due diligence, the Developer shall have such additional time as reasonably necessary to remedy such failure of violation. If Developer fails to cure the default as provided herein, the CRA may terminate this Agreement and all obligations for payment of Pledged Project Increment Revenue to Developer shall cease. Section 9. Termination. Unless earlier terminated pursuant to the terms herein, this Agreement shall automatically terminate upon the earlier of (a) last disbursement of Pledged Project Increment Revenue to Developer for the Project; (b) within five (5) years of the Effective Date if the Developer has not completed construction of the Project; or (c) on September 30, 2025, if the Developer has failed to commence construction of the Project subject to force majeure, except that Developer may request from the CRA one six (6) month extension which request shall not be unreasonably withheld so long as Developer has shown good faith efforts to comply with this deadline. Either Party may elect to terminate this Agreement by providing 45 days written notice to the other Party upon one or more of the following occurrences: a. The default of either Party, if such default is not cured within the time prescribed by this Agreement; b. The Parties enter into a mutually agreed upon, written Addendum, the effect of which is to terminate this Agreement. Section 10. Miscellaneous Provisions. 10.1 Waiver. The CRA shall not be responsible for any property damages or personal injury sustained by Developer from any cause whatsoever related to the development of the Project, whether such damage or injury occurs before, during, or after the construction of the Project or the term of this Agreement. Developer hereby forever waives, discharges, and releases the CRA, its agents, and its employees, to the fullest extent the law allows, from any liability for any damage or injury sustained by Developer. This waiver, discharge, and release specifically include negligence by the CRA, its agents, or its employees, to the fullest extent the law allows. 10.2 Indemnification. Developer shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property or other damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct or the faulty equipment (including equipment installation and removal) of Developer. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA as set forth in Section 768.28, Florida Statutes. This section shall not be construed to require Developer to indemnify the CRA for the CRA’s own negligence, or intentional acts of the CRA, its agents or employees. Each party assumes the risk of personal injury and property damage attributable to the acts or omissions of that party and its officers, employees and agents. 928 10 4858-2803-4238, v. 1 10.3 Assignment. This Agreement may only be assigned by the Developer to record owners of the Property with the prior written consent of the CRA, which consent shall not be unreasonably withheld, provided, however, that any assignee hereto shall specifically assume all of the obligations of and benefits to the Developer under this Agreement. 10.4 Successors and Assigns. The CRA and Developer each binds itself and its partners, successors, executors, administrators and assigns to the other party and to the partners, successors, executors, administrators and assigns of such other party, in respect to all covenants of this Agreement. Nothing herein shall be construed as creating any personal liability on the part of any officer or agent of the CRA, nor shall it be construed as giving any rights or benefits hereunder to anyone other than the CRA and the Developer. 10.5 No Discrimination. Developer shall not discriminate against any person on the basis of race, color, religion, ancestry, national origin, age, sex, marital status, sexual orientation or disability for any reason in its hiring or contracting practices associated with this Agreement. 10.6 No Partnership, Etc. Developer agrees nothing contained in this Agreement shall be deemed or construed as creating a partnership, joint venture, or employee relationship. It is specifically understood that Developer is an independent contractor and that no employer/employee or principal/agent is or shall be created nor shall exist by reason of this Agreement or the performance under this Agreement. 10.7 Public Records: The CRA is a public agency subject to Chapter 119, Florida Statutes. Developer shall comply with Florida’s Public Records Law. Specifically, the Developer shall: a. Keep and maintain public records required by the CRA to perform the public services provided for in this Agreement; b. Upon request from the CRA’s custodian of public records, provide the CRA with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in this chapter or as otherwise provided by law. c. Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the contract if Developer does not transfer the records to the CRA. d. Upon completion of the contract, transfer, at no cost, to the CRA all public records in possession of Developer or keep and maintain public records required by the CRA to perform the service. If Developer transfers all public records to the public agency upon completion of the contract, Developer shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If Developer keeps and maintains public records upon completion of the contract, Developer shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the CRA, upon request from the CRA’s custodian of public records, in a format that 929 11 4858-2803-4238, v. 1 is compatible with the information technology systems of the CRA. IF DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO DEVELOPER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 100 East Ocean Avenue, 4th Floor, Boynton Beach, Florida 33435; or TackT@bbfl.us. 10.8 Entire Agreement. This Agreement represents the entire and sole agreement and understanding between the Parties concerning the subject matter expressed herein. No terms herein may be altered, except in writing and then only if signed by all the parties hereto. All prior and contemporaneous agreements, understandings, communications, conditions or representations, of any kind or nature, oral or written, concerning the subject matter expressed herein, are merged into this Agreement and the terms of this Agreement supersede all such other agreements. No extraneous information may be used to alter the terms of this Agreement. 10.9 Counterparts and Transmission. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The executed signature page(s) from each original may be joined together and attached to one such original and it shall constitute one and the same instrument. In addition, said counterparts may be transmitted electronically (i.e., via facsimile or .pdf format document sent via electronic mail), which transmitted document shall be deemed an original document for all purposes hereunder. 10.10 Agreement Deemed to be Drafted Jointly. This Agreement shall be deemed to be drafted jointly and shall not be construed more or less favorably towards any of the parties by virtue of the fact that one party or its attorney drafted all or any part thereof. Any ambiguity found to exist shall be resolved by construing the terms of this Agreement fairly and reasonably in accordance with the purpose of this Agreement. 10.11 Governing Law, Jurisdiction, and Venue. The terms and provisions of this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Florida and the United States of America, without regard to conflict of law principles. Venue and jurisdiction shall be Palm Beach County, Florida, for all purposes, to which the Parties expressly agree and submit. 10.12 Independent Advice. The Parties declare that the terms of this Agreement have been read and are fully understood. The Parties understand that this is a binding legal document, and each Party is advised to seek independent legal advice in connection with the matters referenced herein. 10.13 Severability. If any part of this Agreement is found invalid or unenforceable by any court, such invalidity or unenforceability shall not affect the other parts of the Agreement if the rights and obligations of the Parties contained herein are not materially prejudiced and if the intentions of the Parties can continue to be achieved. To that end, this Agreement is declared severable. 930 12 4858-2803-4238, v. 1 10.14 Voluntary Waiver of Provisions. The CRA may, in its sole and absolute discretion, waive any requirement of Developer contained in this Agreement. 10.15 Compliance with Laws. In its performance under this Agreement, Developer shall comply with all applicable federal and state laws and regulations and all applicable Palm Beach County, City of Boynton Beach, and CRA ordinances and regulations. 10.16 Survival. The provisions of this Agreement regarding public records, indemnity, and waiver shall survive the expiration or termination of this Agreement and remain in full force and effect. 10.17 Force Majeure. Neither Party shall be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement to the extent and for so long as such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including but not limited to fire, floods, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, pandemics, insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances, acts of God or acts, omissions or delays in acting by any governmental authority, or the other Party. Events of Force Majeure shall extend the period for the performance of the obligations for a period equal to the period(s) of any such delay(s). All terms contained herein shall be subject to Force Majeure. 10.18 Computation of Time. Any reference herein to time periods which are not measured in Business Days and that are less than six (6) days shall not include Saturdays, Sundays, and legal holidays in the computation thereof. Any period provided for in this Agreement which ends on a Saturday, Sunday, or legal holiday shall extend to 5 p.m. on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the computation thereof. For purposes of this Agreement, Business Days shall mean Monday through Friday but shall exclude state and federal holidays. 10.19 Effective Date. This Agreement will become effective upon the date and time the last party executes this Agreement. (SIGNATURES ON THE FOLLOWING PAGES) 931 13 4858-2803-4238, v. 1 IN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first above written. WITNESSES: BB1 DEVELOPMENT, LLC, a Delaware limited liability company (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF __________________ COUNTY OF ________________ BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ___ day of __________________, 2024, by ___________________________________________, as ______________________________________ of BB1 DEVELOPMENT, LLC, a Delaware limited liability company, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of _____________________ __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 932 14 4858-2803-4238, v. 1 WITNESSES: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (signature of witness) By: (printed name of witness) Print Name: Title: (address of witness) (signature of witness) (printed name of witness) (address of witness) STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgments, appeared before me by ⃝ physical presence or ⃝ online notarization this ____ day of ________________, 2024, by ___________________________, as __________________ of BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, who is ⃝ personally known to me or ⃝ produced __________________ as identification. (SEAL) Notary Public, State of Florida __________________________________________ My Commission Expires: Name of Notary Typed, Printed or Stamped 933 934 935 OCEAN ONE 114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FL OWNER:ARCHITECT:CIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:LANDSCAPE ARCHITECT: ARQUITECTONICA 2900 OAK AVENUE, MIAMI, FLORIDA 33133 305.372.1812 HYPERION GROUP 1690 S CONGRESS AVE #100. DELRAY BEACH, FL 33445 KIMLEY HORN 561.330.2345 2900 OAK AVENUE, MIAMI, FLORIDA 3313305.372.1812 TEL GEO ARQUITECTONICA 305.372.1175 FAX888 Biscane Blvd, Suite 101Miami, FL 33132 SITE PLAN APPROVAL FEBRUARY 2023 SITE PLAN APPROVAL 24 FEBRUARY 2023 936 937 A0-01LOCATION / ZONING MAP©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXLOCATION / ZONING MAP938 PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ARTRETAILLOADINGCOMMERCIAL5319 SFAMENITYSPACETRASHRETAILFITNESS3827 SFSPA1091 SFLOBBYCOMMERCIAL9254 SFCOMMERCIAL2295 SFCOMMERCIAL6423 SFCOMMERCIAL2316 SFFFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVD43' @ 8.1%0102030405060708091011121314151617181920FFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-6" NAVD"STOP" SIGN"STOP" SIGNR 5 'R5'62'-8"62'-8"92'-11"10'8'2'-6"8'10'10'8'10'8'2'-6"2'-6"10'2'-6"7'-6"10'-6"2'-6"2'-6"10'10'8'2'-6"8'-8"20'-5"WALL ANDFENCES HEIGHT:8'FTSEE A1-40137'-4"28'-9" 2'5" 10'24'18'-6" @ 9.5%RESILOADINGTR.24'56 PARKINGSPACESRAMP UP 15'-0"116' @ 12.9%MEP31' @ 10.4%FFE 6'-3" NAVDFFE 7'-0"NAVDR 5 'R5'R 5 'R5'R5'PACKAGE ROOM 543 SFRR51'-7"22'R15'26'-8"MANAGEMENTOFFICEMAIL 543 SFMEPRRRRRR22'22' 35' 35'158'-3"107'-11"64'143'-1"93'-4"170'-4"367'-7"64'64'108'-5" 11' 33'-2"8'10'2'-6"32'-7"8'8'10'2'-6"8' 24'28'25'17'-10"107'-11"134'-4"131'-4"78'-5"75'-6"64'134'-4"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACK64'CANOPY ATDROP-OFF78'-7"108'-5"LOBBYFFE 7'-0" NAVD2 TRASH CHUTES:1 REGULAR1 RECYCLINGRESIDENTIAL BIKESTORAGE (54 SPACES)25'CANOPYCANOPYCANOPYCANOPYCANOPYCANOPYCANOPY16 BIKES16 BIKESPLANTERPLANTERPLANTERPLANTERPLANTERPLANTERNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLVEHICULAR RATEDPRECAST CONCRETEUNIT PAVERS / DARKCOBBLESMASTER PLAN / SITE PLAN1/25" = 1'-0''©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-02MASTER PLAN / SITE PLANLEGENDPROPERTY LINESETBACK LINE SIDEWALKTREE PLANS - INDICATED IN LANDSCAPE PLANSSERVICE AREA - CIRCULATIONSPOOL SEATINGRETAILRESIDENTIAL - AMENITIES0'30'60'10'5'15'FPL EASEMENTSTEP BACK LINEF&B SEATINGBICYCLES - REFER TO LANDSCAPE PLANFOR SPECIFICATIONSSTREET LIGHTING POLE - REFER TO CIVIL PLANFOR LOCATIONS AND PHOTOMETRICS939 24'NORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE 549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRMSTRMSTRMSTRM STRM STRM STRM STRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRM STRMSTRMSTRMSTRMSTRMSTRM STRM STRMSTRMSTRMSTRM STRM STRM STRM STRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRMSTRM STRMSTRMSTRMSTRMSTRMSTRMSS SS SS SS SS SS SS SS SS SS SS SS SSSSSSSSSSSSSSSSSS SS SS SSSSSSSSSSGASGASGASGASGASGASGAS GASGASGASGASGASGASGASGASGAS GASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGASGAS FFFFFFFFFFFFFFFFFFFFF F FFWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWWW W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W 15'15'15'15'15'15'25'25' 30'-5"295'15'15'15'15'25'25'EASEMENT AND UTILITY LINES1/25" = 1'-0''©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-03EASEMENT AND UTILITY LINESLEGENDSEWER PIPE0'30'60'10'5'15'SIDEWALK EASEMENTFP&L EASEMENTGASSTRMFWSSGAS LINESEWER DRAINFIRE LINEWATER LINESIGHT LINE TRIANGLESROAD MARKINGSPROPERTY LINECENTERLINE ROWCL940 A0-04SITE DATASITE DATA©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAX941 ©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-05MASSING STUDYNE VIEWBOYNTON BEACH BLVD / NORTH FEDERAL HIGHWAYRETAILAMENITIESRESIDENTIAL UNITSMECHANICAL ROOFLEGEND942 PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLPUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ART24'CANOPY ATDROP-OFFNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINECL CLCLCLOPEN SPACE63,497.5 SQ. FT.39.25 %VEHICULAR USE AREA6,267.9 SQ. FT.3.87 %BUILDING COVERAGE AREA - RESIDENTIAL AND RETAIL59,228.8 SQ. FT.36.61 %BUILDING COVERAGE AREA - GARAGE27,154.6 SQ. FT.16.78 %SIDEWALKS & PAVED AREA36,408.0 SQ. FT.22.5 %GREEN AREA12.7 %20,582.5 SQ. FT.A0-06VEHICULAR USE AREA & GREENAREA CALCULATIONS60'15'5'30'100'©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXSITE PROPERTY SIZE: 161,789 SQFT1/50" = 1'-0''1/50" = 1'-0''1/50" = 1'-0''1/50" = 1'-0''943 24'PUBLICPLAZAARTTERRACETERRACEPUBLICPLAZACOURTYARDLAP POOLBBQLAP POOLPICKLEBALL ARTRETAILLOADINGCOMMERCIAL5319 SFAMENITYSPACETRASHRETAILFITNESS3827 SFSPA1091 SFLOBBYCOMMERCIAL9254 SFCOMMERCIAL2295 SFCOMMERCIAL6423 SFCOMMERCIAL2316 SFFFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVDFFE 7'-0" NAVD43' @ 8.1%0102030405060708091011121314151617181920FFE 7'-0"NAVDFFE 7'-6" NAVDFFE 7'-6" NAVDFFE 7'-6" NAVD"STOP" SIGN"STOP" SIGNR5'R5'62'-8"62'-8"92'-11"10'8'-8"20'-5"WALL ANDFENCES HEIGHT:8'FTSEE A1-40137'-4"28'-9"2'5"10'24'18'-6" @ 9.5%RESILOADINGTR.24'56 PARKINGSPACESRAMP UP 15'-0"116' @ 12.9%MEP31' @ 10.4%FFE 6'-3" NAVDFFE 7'-0"NAVDR 5 'R5'R5'R5'R5'PACKAGE ROOM 543 SFRR51'-7"22'R15'26'-8"MANAGEMENTOFFICEMAIL 543 SFMEPRRRRRR22'22'35' 35'158'-3"107'-11"64'143'-1"93'-4"170'-4"367'-7"64'64'108'-5"11' 33'-2"8'10'2'-6"32'-7"8'8'10'2'-6"8'24'28'25'17'-10"107'-11"134'-4"131'-4"78'-5"75'-6"64'134'-4"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACK64'CANOPY ATDROP-OFF78'-7"108'-5"LOBBYFFE 7'-0" NAVD2 TRASH CHUTES:1 REGULAR1 RECYCLINGRESIDENTIAL BIKESTORAGE (54 SPACES)25'CANOPYCANOPYCANOPYCANOPYCANOPYCANOPYCANOPY16 BIKES16 BIKESPLANTERPLANTERPLANTERPLANTERPLANTERPLANTERNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCLVEHICULAR RATEDPRECAST CONCRETEUNIT PAVERS / DARKCOBBLESNORTH FEDERAL HIGHWAYBOYNTON BEACH BLVD.N.E.6TH COURTOCEAN AVENUE BUS STOPSLAB & SHELTER549'-3"38'-7"216'-7"30'-7"534'-1"38'-9"16'234'-4"PROPERTY LINEPROPERTY LINEPROPERTY LINE PROPERTY LINE R30'R30'R10'R20'R15'R15'R15'R20'CLCLCLCL343234343434 3428283234 34342828322828 343434343434282834 3434343434 34343434342834 3434 3434 28 3432 343424'24' RAMP UP 8'-6"116' @ 12.9%RAMP DN 15'-0"9'18' 18'12'145' @ 5.8%24'TR64'108'-5"64'UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT C(2BR 2BTH)1020 SQ. FT.UNIT D(2BR 2BTH)1202 SQ. FT.UNIT B(STUDIO)551 SQ. FT.UNIT E(2BR 2BTH)1097 SQ. FT.UNIT F(STUDIO)612 SQ. FT.UNIT G(1BR 1BTH)837 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)727 SQ. FT.UNIT J(2BR 2BTH)1015 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A2(1BR 1BTH)832 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT K(1BR 1BHT)766 SQ. FT.20'-3" 143'-1"158'-3"21'134'-4"64'107'-11"103'-4"367'-7"27'-8"167'-10"94'-3"93'-4"UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT C(2BR 2BTH)1020 SQ. FT.UNIT D(2BR 2BTH)1202 SQ. FT.UNIT B(STUDIO)551 SQ. FT.UNIT E(2BR 2BTH)1097 SQ. FT.UNIT F(STUDIO)612 SQ. FT.UNIT G(1 BR 1BTH)837 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT K(1BR 1BHT)766 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT L(1BR)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT L(1BR)725 SQ. FT.UNIT H(STUDIO)579 SQ. FT.STGUNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT J(2BR 2BTH)1015 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A1(1BR 1BTH)843 SQ. FT.UNIT C1(2BR 2BTH)1209 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.STGESTGSTG79'-1"UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A(1BR 1BTH)725 SQ. FT.UNIT A3(1BR 1BTH)798 SQ. FT.STGUNIT I(STUDIO)649 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.UNIT J1(2BR 2BTH)1112 SQ. FT.STG12'-2"21'-2"64'34'-3"160'-11"18'-1"30'-5"12'-1"10'2'6"FTTREE AREA8'10FTSIDEWALK2'6"FTTREE AREA10'10'10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10'5FTTREE AREA10FTSIDEWALK8FTACTIVE AREA10FTSTEP BACK10FTSIDEWALK5FTTREE AREA8'10'2'-6"10'2'-6" 5'8'10'2'-6"5' 5'2'6"FTTREE AREA10FTSIDEWALK8FTACTIVE AREA5FTSTEP BACKSTEPBACKSTEPBACKPARKING99 SPACESLEVEL 20'120'30'10'60'1/25" = 1'-0''200'©2020 ARQUITECTONICA INTERNATIONAL, IncPROJECT NUMBER:SEAL/SIGNATURE/DATE:OFFICE REGISTRATION:LANDSCAPE ARCHITECT:2900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXWWW.ARQUITECTONICA.COMCIVIL ENGINEER:STRUCTURAL ENGINEER:MEP ENGINEER:OWNER:OCEAN ONEBOYNTON BEACH - FLORIDAPROJECT ADDRESS:114 / 222 N. FEDERAL HIGHWAY, BOYNTON BEACH, FLORIDAISSUE # DESCRIPTION DATETO THE BEST OF MY KNOWLEDGE AND BELIEF, THESE PLANS ANDSPECIFICATIONS COMPLY WITH THE MINIMUM BUILDING CODESAND THE APPLICABLE FIRE-SAFETY STANDARDS AS DETERMINEDBY THE CITY OF MIAMI IN ACCORDANCE WITH SECTION 110,FLORIDA BUILDING CODE AND CHAPTER 633, FLORIDA STATUTES.ALL DESIGNS INDICATED IN THESE DRAWINGS ARE THE PROPERTY OFARQUITECTONICA INTERNATIONAL CORP. ALL COPYRIGHTS RESERVED.NO COPIES, TRANSMISSIONS, REPRODUCTIONS OR ELECTRONICMANIPULATION OF ANY PORTION OF THESE DRAWINGS IN WHOLE OR INPART ARE TO BE MADE WITHOUT THE EXPRESS WRITTEN PERMISSION OFARQUITECTONICA INTERNATIONAL CORPSHEET ISSUE DATE: FEBRUARY, 20231690 S CONGRESS AVE #100DELRAY BEACH, FLORIDA 33445KIMLEY HORNGEO ARQUITECTONICASITE PLAN APPROVALHYPERION GROUP888 BISCAYNE BLVD, SUITE 101, MIAMI, FL 331322900 OAK AVENUE; MIAMI, FLORIDA 33133305.372.1812 TEL305.372.1175 FAXA0-10PUBLIC PEDESTRIANCIRCULATION DIAGRAMLEGENDPUBLIC PEDESTRIAN CIRCULATION DIAGRAMGROUND FLOOR1/25" = 1'-0''0'120'30'10'60'200'LEGENDPUBLIC PEDESTRIAN CIRCULATION DIAGRAMTHE RETAIL USERS HAVE ACCESS TO THE GARAGE ON LEVELS 01 AND 02.THE LEVELS ARE CONNECTED WITH 1 DEDICATED ELEVATOR, SERVING ONLY THESE 2 LEVELS.THE REGULAR CONNECTION BY THE STAIR WILL BE PROVIDED BY THE SOUTH-EAST STAIR,WITH A DIRECT ACCESS TO NE 6TH COURT.944 945 946 947 948 949 950 951 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CRA ADVISORY BOARD AGENDA ITEM 13.A SUBJECT: Pending Assignments - New Assignments from the CRA Board Assigned at the February 13, 2024 CRA Monthly Board Meeting SUMMARY: On February 13, 2024, the CRA Board approved the following tasks be assigned to the CRA Advisory Board (CRAB): 1. Initiate the steps to revise the 2016 CRA Plan, A. With the first step to review the existing CRA plan, and B. With the end goal to incorporate both the grocery store and public parking as part of that plan. 2. Look for ways that are above and beyond the normal City functions to beautify the area within the CRA district (cannot be in replacement of a normal City function and needs to be above and beyond). 3. Investigate means to get a grocery store in the CRA Heart of Boynton area. 4. Identify potential locations for a Public Parking Garage preferably along Ocean Avenue. 5. Look for available properties for potential acquisition with a focus on commercial properties along the Federal Highway area (ex. vacant properties for commercial use). On April 4, 2024 and May 2, 2024, CRAB reviewed the following properties: 1. 1310 North Federal Highway (see Attachments I and II); 2. 1320 South Federal Highway (see Attachments III and IV); 3. 724 North Federal Highway (see Attachments V and VI); and 4. 1017 North Federal Highway (see Attachments VII and VIII). On May 2, 2024, the CRAB Board reviewed the Federal Highway District section of the 2016 CRA Plan. They are currently reviewing the Heart of Boynton District section and will discuss their findings on June 6, 2024 meeting. All other assignments were moved to Pending Assignments, as no additional action was taken. FISCAL IMPACT: To be determined. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan 1039 •Attachment I - 1310 North Federal Highway - PAPA Map •Attachment II - 1310 North Federal Highway - Retail for Sale - LoopNet •Attachment III - 1320 South Federal Highway - PAPA Map •Attachment IV - 1320 South Federal Highway - Land for Sale - LoopNet •Attachment V - 724 North Federal Highway - PAPA Map •Attachment VI - 724 North Federal Highway - Crexi.com •Attachment VII - 1017 North Federal Highway - PAPA Map •Attachment VIII - 1017 North Federal Highway - Retail for Sale - LoopNet CRAB RECOMMENDATION: Property Address Pursue Now as a Land Banking Opportunity Pursue at a Future Date Does not Fit the CRA Mission 1310 North Federal Highway (see Attachments I-II) X 1320 South Federal Highway (see Attachments III- IV) X 724 North Federal Highway (see Attachments V- VI) X 1017 North Federal Highway (see Attachments VII- VII) X CRA BOARD OPTIONS: To be determined. ATTACHMENTS: Description 1040 3DOP%HDFK&RXQW\m0 0.01 0.030.01MilesScale: 1:1,128Date: 3/4/2024Time: 10:36 AM1041 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/1/10 Mixed Use Properties / Florida / Boynton Beach / 1310 N Federal Hwy, Boynton Beach, FL 33435 Call Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1042 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/2/10  Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1043 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/3/10  INVESTMENT HIGHLIGHTS Ideal for contractors, Landscapers and many other uses. The renovated proper ty presents an exciting oppor tunity for businesses to thrive and expand in a sought-af ter location.Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1044 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/4/10 Renovated carwash site with Six (6) bays and first class of fice space. Introducing an exceptional oppor tunity to own a fully renovated and modernized commercial proper ty in the hear t of Boynton Beach. EXECUTIVE SUMMARY Renovated carwash site with Six (6) bays and first class of fice space. Ideal for contractors, Landscapers and many other uses. Introducing an exceptional oppor tunity to own a fully renovated and modernized commercial proper ty in the hear t of Boynton Beach. This meticulously upgraded proper ty showcases a harmonious blend of contemporar y design and func tionality, of fering an ideal space for a range of businesses. Stunning Renovations: This commercial proper ty has undergone a complete renovation, resulting in a stylish and polished space that exudes professionalism and modernity. From the sleek exterior façade to the thoughtfully designed interior, ever y aspect has been meticulously craf ted to create an inviting and visually impressive environment. Ample parking for 40 plus vehicles. Prime Location: Situated in a highly desirable location, this commercial proper ty benefits from excellent visibility, high traf fic, and a vibrant business community. Its proximity to major transpor tation routes, public transpor tation options, and popular amenities fur ther enhances its appeal and convenience for both customers and employees. Oppor tunity for Grow th: The renovated proper ty presents an exciting oppor tunity for businesses to thrive and expand in a sought- af ter location. With its strategic positioning and impressive upgrades, it of fers a solid foundation for long-term success and grow th. Modernized Systems: The renovation includes updated elec trical, plumbing, and HVAC systems, providing enhancedMessage 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1045 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/5/10 PROPERT Y FACTS Sale Type Owner User Proper ty Type Retail Proper ty Subtype Building Size 4,840 SF Building Class B Year Built 1979 Price $1,295,000 Price Per SF $268 Building Height 1 Stor y Building FAR 0.17 reliability and efficiency. These upgrades not only contribute to a seamless operational experience but also minimize maintenance costs and increase the proper ty's long-term value. Don't miss out on this extraordinar y chance to own a turnkey commercial proper ty that has been thoughtfully renovated to meet the demands of the modern business landscape. Take advantage of the thriving commercial market in Boynton Beach and secure a proper ty that stands out from the rest. AT TACHMENTS C4 Permit ted Uses 1310 N. Federal Highway  TAXES & OPERATING EXPENSES (ACTUAL - 2022) ANNUAL ANNUAL PER SF Taxes $20,796 $4.30 Operating Expenses $2,000 $0.41 Total Expenses $22,796 $4.71 Storefront Retail /Office  Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1046 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/6/10 Land Acres 0.66 AC Oppor tunity Zone Yes Zoning Commercial General - Commercial General (C4) this district permits a variety of commercial uses. Frontage 145 FT on Federal Highway LINKS Vir tual Tour AERIAL MAP TRAFFIC  AMENITIES Bus Line Fenced Lot Signage Air Conditioning   Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1047 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/7/10 TRANSPORTATION COMMUTER RAIL COMMUTER RAIL   Boynton Beach Commuter Rail (Tri-County Commuter) 5 min drive 2.2 mi Lake Wor th Commuter Rail (Tri-County Commuter) 12 min drive 6.6 mi Delray Beach Commuter Rail (Tri-County Commuter) 13 min drive 7.4 mi 19 min drive 12.1 mi  Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1048 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/8/10 YOU MAY ALSO LIKE COMMUTER RAIL AIRPORT PROPERT Y TAXES  Boca Raton Commuter Rail (Tri-County Commuter) West Palm Beach Commuter Rail (Tri-County Commuter) 19 min drive 13.6 mi Palm Beach International Airpor t 20 min drive 13.3 mi For t Lauderdale–Hollywood International Airpor t 49 min drive 37.3 mi Parcel Number 08-43-45-22-07- 000-0492 Total Assessment $1,050,891 Land Assessment $567,240 Annual Taxes $20,796 ($4.30/SF) Improvements Assessment $483,651 Tax Year 2022 Payable 2023 3045 N Federal … Auction Sale 2455 E Sunrise … Auction Sale 2801 NW 55th A… Auction Sale 1864 NW 175th … Auction Sale Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1049 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/9/10 More public record information on 1310 N Federal Hwy, Boynton Beach, FL 33435 The Outer Boynton Beach Retail Property at 1310 N Federal Hwy, Boynton Beach, FL 33435 is currently available. Contact The Keyes Company for more information. Listing ID: 28488406 Date Created: 5/15/2023 Last Updated: 2/13/2024 Address: 1310 N Federal Hwy, Boynton Beach, FL 33435 RETAIL PROPERTIES IN NE ARBY NEIGHBORHO ODS Downtown Delray Beach Mixed Use Proper ties Renaissance Commons Mixed Use Proper ties Downtown Jewel Mixed Use Proper ties NE ARBY LISTINGS 2050 N Federal Hwy, Delray Beach FL 2433-2463 Quantum Blvd, Boynton Beach FL 352 NE 3rd Ave, Delray Beach FL 1116 Hypoluxo Rd, Lake Wor th FL 117 Moorings Dr, Lantana FL 1701 W Boynton Beach Blvd, Boynton Beach FL 360 NE 4th St, Delray Beach FL 420 NE 3rd St, Boynton Beach FL 136-140 W Boynton Beach Blvd, Boynton Beach FL 200 W Lantana Rd, Lake Wor th FL The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind. About Us Contact Us Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1050 2/29/24, 1:01 PM 1310 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1310-N-Federal-Hwy-Boynton-Beach-FL/28488406/10/10 Connect with us  © 2024 CoStar Group Search Find a Broker Product Over view Mobile Terms of Use Privacy Policy Message 1310 N Federal Hwy 4,840 SF | Retail Building | Boynton Beach, FL 33435 | $1,295,000 ($268 /SF)  1051 3DOP%HDFK&RXQW\1RQHm0 0.04 0.070.02MilesScale: 1:2,257Date: 3/4/2024Time: 10:29 AM1052 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/1/9 Commercial Land / Florida / Boynton Beach / 1320 S Federal Hwy, Boynton Beach, FL 33435 Call Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1053 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/2/9  Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1054 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/3/9  INVESTMENT HIGHLIGHTS 1 block from Atlantic Ocean & Intercoastal Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1055 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/4/9 PROPERT Y FACTS Directly on S Dixie hosting +- 23000 cars daily Site Plan approved for medical of fice EXECUTIVE SUMMARY RE /MAX 360 is pleased to present the potential of "BOYNTON BEACH" at this location. This proper ty encompasses an irregular lot of approximately 0.52 acres, strategically positioned directly on S Dixie Highway and just one block away from the Ocean. The site includes an approved site plan and allows for additional leasable footage of approximately 25,000 sqf t of of fice space across four floors. While initially envisioned by the current owner as an of fice redevelopment project, the zoning permits a diverse range of uses, of fering various investment oppor tunities. AT TACHMENTS zoning MU 1  1320_S_FEDER AL_HW Y_Boy ton  BOYNTON BEACH OM  Price $2,750,000 Proper ty Type Land Sale Type Investment Proper ty Subtype Commercial Sale Conditions Build to Suit Proposed Use Retail  No. Lots 1 Total Lot Size 0.52 AC Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1056 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/5/9 1 LOT AVAIL ABLE Lot 0843452705 Price $2,750,000 Lot Size 0.52 AC Price Per AC $5,291,514 PROPERT Y HIGHLIGHTS 0.52 Acre Approved Site Plan Seller Financing Available 1 block west from the ocean SITE DETAIL Proposed Floors: 4 Buildable Area: 25,000 sqf t Lot Size: 0.52 Acre Year Built: Proposed 2025 Asking $3,000,000.00 DESCRIPTION The subject proper ty encompasses an irregular lot of approximately 0.52 acres, strategically positioned directly on S Dixie Highway and just one block away from the Ocean. The site includes an approved site plan and allows for additional leasable footage of approximately 25,000 sqf t of of fice space across four floors. While initially envisioned by the current owner as an of fice redevelopment projec t, the zoning permits a diverse range of uses, of fering various investment oppor tunities. PROPERT Y HIGHLIGHTS 0.52 Acre Approved Site Plan Seller Financing Available 1 block west from the ocean SITE DETAIL Proposed Floors: 4 Buildable Area: 25,000 sqf t Lot Size: 0.52 Acre Year Built: Proposed 2025 Asking $3,000,000.00 LO C ATION HIGHLIGHTS Seller financing available Along S Federal Hwy One block from the Beach Possibility to redevelop Site Plan approved for +/- 1 1,000 sqf t of medical office +/- 25,000 sqf t on 4 floors allowable by right 0.52 Acre Zoned MU-1 Parcel #08434527050000021Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1057 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/6/9 LINKS REMAX 360 Commercial Website AERIAL MAP TRANSPORTATION COMMUTER RAIL COMMUTER RAIL    Boynton Beach Commuter Rail (Tri-County Commuter) 9 min drive 4.3 mi Delray Beach Commuter Rail (Tri-County Commuter) 10 min drive 6.0 mi   Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1058 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/7/9 YOU MAY ALSO LIKE COMMUTER RAIL AIRPORT PROPERT Y TAXES ZONING Zoning Code MU-1 (Mixed Use 1 (MU-1). The MU-1 district implements the Mixed Use Low (MXL) future land use map (FLUM) classification of the Comprehensive Plan)  Lake Wor th Commuter Rail (Tri-County Commuter) 14 min drive 8.7 mi Boca Raton Commuter Rail (Tri-County Commuter) 16 min drive 10.7 mi West Palm Beach Commuter Rail (Tri-County Commuter) 21 min drive 15.7 mi Palm Beach International Airpor t 22 min drive 15.3 mi For t Lauderdale–Hollywood International Airpor t 46 min drive 35.9 mi Parcel Number 08-43-45-27-05-000-0021 Improvements Assessment $0 Land Assessment $0 Total Assessment $680,610 Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1059 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/8/9 More public record information on 1320 S Federal Hwy, Boynton Beach, FL 33435 The Outer Boynton Beach Land Proper ty at 1320 S Federal Hwy, Boynton Beach, FL 33435 is currently available. Contact ReMax 360 for more information. Listing ID: 30515459 Date Created: 1/3/2024 Last Updated: 2/25/2024 Address: 1320 S Federal Hwy, Boynton Beach, FL 33435 L AND PROPERTIES IN NE ARBY NEIGHBORHO ODS Downtown Delray Beach Commercial Land SOSA Commercial Land South Palm Park Commercial Land Downtown Jewel Commercial Land Bryant Park Commercial Land Tropical Ridge Commercial Land Mango Groves Commercial Land Sunset Ridge South Commercial Land College Park Commercial Land Willow Bend Commercial Land NE ARBY LISTINGS 745 NE 6th Ave, Delray Beach FL 3525 Old Boynton Rd, Boynton Beach FL 801-811 George Bush Blvd, Delray Beach FL 3045 N Federal … Auction Sale 2455 E Sunrise … Auction Sale 2801 NW 55th A… Auction Sale 1864 NW 175th … Auction Sale Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1060 2/28/24, 4:56 PM 1320 S Federal Hwy, Boynton Beach, FL 33435 - Land for Sale | LoopNet https://www.loopnet.com/Listing/1320-S-Federal-Hwy-Boynton-Beach-FL/30515459/9/9 Connect with us  © 2024 CoStar Group 850 Woolbright Rd, Boynton Beach FL The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind. About Us Contact Us Search Find a Broker Product Over view Mobile Terms of Use Privacy Policy Message 1320 S Federal Hwy 0.52 Acres of Commercial Land Of fered at $2,750,000 USD in Boynton Beach, FL 33435  1061 3DOP%HDFK&RXQW\LegendLegendm0 0.01 0.030.01MilesScale: 1:1,128Date: 3/29/2024Time: 12:14 PM1062 3/27/24, 3:08 PM 724 N Federal Hwy Highway, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/1209643/florida-724-n-federal-hwy-highway 1/5 w.crexi- Themmeral Estaxchang Details Property Type Retail Units 1 Year Built 1957 Discover an exceptional commercial opportunity with this expansive corner lot on Federal Highway, currently hosting a successful car dealership. This prime location oers unmatched visibility and access, positioned at the convergence of high-trac roads. Seamlessly transition into the automotive industry with the existing dealership infrastructure and available vehicle inventory. Alternatively, reimagine the space for diverse retail possibilities, leveraging its strategic location amid a thriving commercial landscape. Grandfathered for Dealership. Powered by Beachesmls Learn More (https://learn.crexi.com/en/articles/6630787- listing-partnerships) Address 724 N Federal Hwy Highway, Boynton Beach, FL 33435 Show on Map Date Added Aug 18, 2023 Days on Market 222 days Time Since Last Update 129 days Marketing Description Valuation Calculator Valuation Calculator Loan Amount  $0.00 Annual Debt Service  $ Purchase Price * $1,500,000 Net Operating Income * Net Operating Income Down Payment * $1,500,000 100% Interest Rate * Interest Rate Term (years)* Term (years) Listing Contacts Christopher Bruce Phone Number: Sign Up or Log In to see phone number View my prole CB Active Asking Price:$1,500,000 Learn more View Flyer Submit LOI Request Info Opportunity Zone 724 N Federal Hwy Highway724 N Federal Hwy Highway RETAIL  Street View  Gallery 39  Map View Property Due DiligenceFor Sale (/properties) Retail (/properties/Retail) FL (/prop… Subscribe to Intelligence for full access Analyze property details including ownership and nancial history. Share advanced property insights with your clients and teams.  Subscribe Now (/)Upgrade Add Listings (/add- prope Enter a location or keyword For Sale (/properties) For Lease (/lease/properties) Auctions (/properties/Auctions) Property Data (/property- records/search) Intelligence (/intelligence) 1063 3/27/24, 3:08 PM 724 N Federal Hwy Highway, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/1209643/florida-724-n-federal-hwy-highway 2/5 Find relevant comps for this listing Find comps by clicking below $-- $-- Annual Cash Flow  $-- $-- Login or Sign up to see Valuation Metrics Sign up for Crexi to see valuation metrics for this property DSCR Cap Rate ROI  Sign Up Similar Properties See More (/properties/FL/Boynton_Beach/Retail) $1,250,000 724 N Federal Highway Retail 724 N Federal Highway Boynton Beach, FL 33435 RE/MAX FIRST  Opportunity Zone View Flyer $1,650,000 123 NE 2nd Avenue Delray Beach Retail Store For Sale 123 NE 2nd Ave Delray Beach, FL 33444  View Flyer $ L G 7 B  Listing Contacts Christopher Bruce Phone Number: Sign Up or Log In to see phone number View my prole CB Active Asking Price:$1,500,000 Learn more View Flyer Submit LOI Request Info Opportunity Zone 724 N Federal Hwy Highway724 N Federal Hwy Highway RETAIL  Street View  Gallery 39  Map View Find Comps Sign In to ViewInstantly see critical demographics Subscribe to see demographic trends including population, income, and more within 1-, 3-, and 5-miles of your property of interest. Property Due DiligenceFor Sale (/properties) Retail (/properties/Retail) FL (/prop… 1064 3/27/24, 3:08 PM 724 N Federal Hwy Highway, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/1209643/florida-724-n-federal-hwy-highway 3/5 Listing Contacts Christopher Bruce Phone Number: Sign Up or Log In to see phone number View my prole CB Active Asking Price:$1,500,000 Learn more View Flyer Submit LOI Request Info Opportunity Zone 724 N Federal Hwy Highway724 N Federal Hwy Highway RETAIL  Street View  Gallery 39  Map View 1 mile 3 miles 5 miles Property Due DiligenceFor Sale (/properties) Retail (/properties/Retail) FL (/prop… 1065 3/27/24, 3:08 PM 724 N Federal Hwy Highway, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/1209643/florida-724-n-federal-hwy-highway 4/5 *All information is deemed reliable but not guaranteed. Buyer to verify all information. Is there information that looks o? 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Feb 2024Vs.Feb 2023 Zip Code: 33… Top Properties Regional Change Monthly Trends Properties by rank YoY Rank Visits #1 Su… 501 SE 18th Ave,…--- #2 W… 3625 Federal Hw…1 #3 … 501 SE 18th Ave,…1 #4 Riv… 1634 S Federal …--- #5 M… 1799 N Congres…--- Full Report Embed All Nei… Big B… Groce… Neig… Fast … Broker Information Broker Name Christopher Bruce Brokerage Name Engel & Voelkers Delray Beach Brokerage Address undened, United States undened Location Insights Listing Contacts Christopher Bruce Phone Number: Sign Up or Log In to see phone number View my prole CB Active Asking Price:$1,500,000 Learn more View Flyer Submit LOI Request Info Opportunity Zone 724 N Federal Hwy Highway724 N Federal Hwy Highway RETAIL  Street View  Gallery 39  Map View Property Due DiligenceFor Sale (/properties) Retail (/properties/Retail) FL (/prop… 1066 3/27/24, 3:08 PM 724 N Federal Hwy Highway, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/1209643/florida-724-n-federal-hwy-highway 5/5 Do not sell or share my personal information (https://crexi.bigidprivacy.cloud/consumer/#/o2TCsG9LJ7) © 2024 Commercial Real Estate Exchange, Inc. All Rights Reserved. support@crexi.com (mailto:support@crexi.com) Terms & Conditions (https://www.crexi.com/tos)Privacy Policy (https://www.crexi.com/privacy)Site Map (https://www.crexi.com/sitemap) Listing Contacts Christopher Bruce Phone Number: Sign Up or Log In to see phone number View my prole CB Active Asking Price:$1,500,000 Learn more View Flyer Submit LOI Request Info Opportunity Zone 724 N Federal Hwy Highway724 N Federal Hwy Highway RETAIL  Street View  Gallery 39  Map View Property Due DiligenceFor Sale (/properties) Retail (/properties/Retail) FL (/prop… 1067 3DOP%HDFK&RXQW\LegendLegendm0 0.01 0.030.01MilesScale: 1:1,128Date: 4/26/2024Time: 3:40 PM1068 Restaurants / Florida / Boynton Beach / 1017 N Federal Hwy, Boynton Beach, FL 33435 Call Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/1/81069  Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/2/81070 PROPERT Y FACTS Sale Type Investment or Owner User Sale Condition Redevelopment Project Proper ty Type Retail Proper ty Subtype Restaurant Building Size 364 SF Building Class C Year Built 1959 Price $895,000 Price Per SF $2,459 Tenancy Single Building Height 1 Stor y Building FAR 0.04 Land Acres 0.21 AC Oppor tunity Zone Yes Zoning C4 - General commercial Parking 12 Spaces (32.97 Spaces per 1,000 SF Leased) Frontage  31 FT on N Federal Hwy  AMENITIES Bus Line Corner Lot Signalized Intersection S C Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/3/81071 AERIAL MAP TRAFFIC SPACE AVAIL ABILIT Y SIZE 364 SF SPACE USE Retail POSITION - AVAIL ABLE Now View Details 1st Floor  Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/4/81072 TRANSPORTATION COMMUTER RAIL AIRPORT AIRPORT  Boynton Beach 6 min drive 2.4 mi Lake Wor th 12 min drive 6.8 mi Delray Beach 12 min drive 7.2 mi Boca Raton 18 min drive 1 1.8 mi West Palm Beach 19 min drive 13.8 mi Palm Beach International 20 min drive 13.4 mi  Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/5/81073 More public record information on 1017 N Federal Hwy, Boynton Beach, FL 33435 The Outer Boynton Beach Retail Property at 1017 N Federal Hwy, Boynton Beach, FL 33435 is currently available. Contact Anaheim Proper ties, Inc. for more information. YOU MAY ALSO LIKE Listing ID: 28030520 Date on Market: 3 /21/2023 Last Updated: 4 /8/2024 Address: 1017 N Federal Hwy, Boynton Beach, FL 33435 AIRPORT PROPERT Y TAXES For t Lauderdale /Hollywood International 48 min drive 37.1 mi Parcel Number 08-43-45-21-32-001-0010 Improvements Assessment $31,314 Land Assessment $253,220 Total Assessment $284,534 RETAIL PROPERTIES IN NE ARBY NEIGHBORHO ODS Downtown Delray Beach Restaurants Downtown Boca Raton Restaurants Downtown West Palm Beach Restaurants Tropical Ridge Restaurants 800 N Federal Hwy - At… Price Upon Request 6721 NW 36th Ave - Hia… $10,750,000 Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/6/81074 Connect with us  NE ARBY LISTINGS 2300 N Federal Hwy, Delray Beach FL 352 NE 3rd Ave, Delray Beach FL 1116 Hypoluxo Rd, Lake Wor th FL 151-155 NE 4th Ave, Delray Beach FL 211 NE 1st Ave, Delray Beach FL 802-810 S Dixie Hwy, Lake Wor th FL 1701 W Boynton Beach Blvd, Boynton Beach FL 136-140 W Boynton Beach Blvd, Boynton Beach FL 200 W Lantana Rd, Lake Wor th FL The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind. About Us Contact Us Search Find a Broker Product Over view Mobile Terms of Use Privacy Policy Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/7/81075 © 2024 CoStar Group Message 1017 N Federal Hwy 364 SF | Retail Building | Boynton Beach, FL 33435 | $895,000 ($2,459/SF)  4/26/24, 3:22 PM 1017 N Federal Hwy, Boynton Beach, FL 33435 - Retail for Sale | LoopNet https://www.loopnet.com/Listing/1017-N-Federal-Hwy-Boynton-Beach-FL/28030520/8/81076 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 OLD BUSINESS AGENDA ITEM 14.A SUBJECT: Discussion and Consideration of the Boynton Beach Faith Based CDC's Request for Extension of Time to the Purchase and Development Agreement for the Properties located at 402 and 404 NW 12th Avenue SUMMARY: On May 10, 2022, the CRA Board approved the Boynton Beach Faith Based Community Development Corp.'s (CDC) Letter of Intent (LOI) for the purchase of two vacant lots, 402 & 404 NW 12th Avenue, in the amount of $60,000 (Attachment I, II & III). A Purchase and Development Agreement was entered into by the parties on July 13, 2022 (Attachment IV). The CDC obtained a building permit for a three bedroom, two bath single family home on November 21, 2023 (Attachment V). The parties closed on the properties on January 26, 2024 (Attachment VI). Pursuant to paragraph 18.d. of the Purchase and Development Agreement the CDC is to obtain a temporary or permanent Certificate of Occupancy (CO) within six months following the issuance of the building permit. Therefore, a temporary or permanent CO is due on or before May 21, 2024. The CDC has submitted a request for a six-month extension from the current due date of the temporary/permanent CO of May 21, 2024, to November 21, 2024 (Attachment VII). A draft First Amendment to the Purchase and Development Agreement, for the extension of time, has been provided for review (Attachment VIII). FISCAL IMPACT: N/A CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan - Heart of Boynton District CRA BOARD OPTIONS: 1. Approve the First Amendment to the Purchase and Development Agreement between the BBCRA and the CDC for a six-month extension of time in which to receive a temporary or permanent Certificate of Occupancy which would be on or before November 21, 2024, and allow Board Chair to execute the First Amendment after review for legal sufficiency. 2. Do not a pprove the First Amendment to the Purchase and Development Agreement 1077 •Attachment I May 10, 2022 CRA Board Meeting Minutes •Attachment II - Location Map •Attachment III - Faith Based CDC LOI •Attachment IV - Fully Executed P&D Agreement 402-404 NW 12th Avenue •Attachment V - 11.21.23 Building Permit Issued 2023.02.0882 •Attachment VI - Special Warranty Deed (OR BK 34836 PG 141) •Attachment VII - Extension Letter •Attachment VIII - First Amendment to the P&D-402 404 NW 12th Avenue-DRAFT between the BBCRA and the CDC for a six-month extension of time in which to receive a temporary or permanent Certificate of Occupancy which would be on or before November 21, 2024. 3. Alternative direction as determined by the CRA Board. ATTACHMENTS: Description 1078 1079 1080 1081 1082 1083 1084 00 April 18, 2022 Thuy Shutt Executive Director Boynton Beach CRA 100 E Ocean Ave Boynton Beach, FL 33425 Dear Ms. Shutt: I am writing in response to Boynton Beach Redevelopment Agency (Boynton Beach CRA) public posting of the Notice of Intent to Dispose of Real Property of the following two parcels described as: 1. 404 NW 12th Ave, Boynton Beach, FL 33435 (Parcel ID: 08-43-45-21-14-000-4140) 2. 402 NW 12th Ave, Boynton Beach, FL 33435 (Parcel ID: 08-43-45-21-14-000-4150) Boynton Beach Faith Based Community Development Corporation (Boynton Beach CDC) is the only “Boynton-based” 501(c)(3) non-profit affordable housing developer in Boynton Beach. We are an experienced affordable housing developer, and since our inception in 1999, we have been involved in developing/creating affordable single-family and rental housing for lower-wage buyers and tenants. We embrace collaboration, and whenever possible, we partner with other area housing agencies, developers, local builders, and other non-profit entities to advance our affordable housing agenda. Our efforts have produced more than 255 affordable housing units through our housing development program and assisted more than 355 participants in achieving homeownership. Additionally, we have provided homebuyer education and counseling to more than 3,500 participants. The CDC is presently completing the construction of the final home of a twenty (20) unit scattered-site “new-home” development project we commenced in 2012. Additionally, we acquired and renovated forty-eight (48) distressed/foreclosed homes within the past seven years. Forty-five (45) were sold to eligible buyers, and three currently (3) provide affordable rental housing for very low-income residents. We also purchased and renovated an abandoned four-unit building and a five-bedroom single-family home that presently offers supportive housing for fifteen (15) special needs individuals. We actively seek vacant lots to acquire to continue our affordable housing development activity. However, there is a shortage of available vacant land for sale in Boynton Beach, especially in the HOB neighborhoods. Our search for vacant lots produced only the two lots in the past four years. In late 2019, the City of Boynton Beach donated five (5) vacant lots to the CDC on NW 11th Avenue. We have built and sold four (4) homes on these lots, and we are completing the construction of the final (5th) home in the coming weeks. The low inventory of “reasonably priced” vacant lots in Boynton Beach significantly hampers our ability to continue our affordable housing development efforts. If reasonably-priced vacant land is not available 2191 N. Seacrest Boulevard Post Office Box 337 Boynton Beach, FL 33425 Phone: 561 - 752 - 0303 Fax: 561 - 244 - 5046 https://www.boyntonbeachcdc. org/ Boynton Beach Faith Based Community Dev. Corp. 1085 for purchase, our affordable housing development activities will cease, and homeownership opportunities for lower-wage individuals/families in Boynton Beach will no longer be viable. Our buyers typically do not have the income necessary to purchase market-priced homes outright on the open market. “Development subsidy” in the form of below-market priced homes and down- payment assistance is needed for our lower-wage clients to achieve their homeownership goal. We do not benefit from the generous donations of corporate sponsors and benefactors. The reduced price (development subsidy gift) we provide to our buyers is dependent on the availability of reasonably priced lots or generous lot donations from the City and CRA. When we build homes on “City/CRA- donated” lots, we sell them below market value to our home buyers. Our clients do not have the income and financial means to purchase “market rate” homes, especially in this investor-driven “hot” seller’s real estate market. However, we are committed to serving that market niche of lower-wage families. Our only means of achieving that goal is through lot donations from the City/CRA and purchasing reasonably priced lots. We do not benefit from the generous contributions of national corporate sponsors and benefactors and therefore cannot compete with organizations that receive such generosity. We are a “locally driven” non-profit affordable housing developer that local community residents birthed. We acquire lots through purchases and donations to accomplish our housing development goals. This is NOT a request to donate the referenced lots, although we would gladly accept them as donations. Instead, this request is to purchase the lots at a reasonable price to allow Boynton Beach CDC to continue to create affordable housing units for residents of Boynton Beach, as well as provide a vehicle for the CRA to continue to invest in the creation of decent, safe, affordable housing in the HOB. Your consideration and acceptance of the attached Letter of Intent (LOI) or a reasonable counter- offer will facilitate the continuation of the CDC’s affordable housing activity while allowing the CRA to continue to play a critical role in furthering the advancement of housing opportunities for lower-income families in the HOB. It will also accomplish a national housing objective of providing/creating safe, decent, affordable housing for lower-income households. Thank you for your time and consideration. Should you have any questions or need additional information, I can be reached at 561-752-0303 (work), or email at kjbbfbcdc@yahoo.com Keturah Joseph Executive Director Boynton Beach Faith Based CDC 1086 1 LETTER OF INTENT 04/18/2022 From: Keturah Joseph, Executive Director of Boynton Beach Faith Based Community Dev. Corp 2191 N Seacrest Blvd Boynton, Beach, Florida 33435 To: Thuy Shutt, Executive Director, Boynton Beach Community Redevelopment Agency 100 E Ocean Avenue, Boynton Beach, FL 33425 Ms. Shutt: This letter of Intent (the "LOI") confirms the mutual interest, with regards to the transaction described herein, of the following parties: ("Buyer"): Boynton Beach Faith Based Community Development Corp ("Seller"): Boynton Beach Community Redevelopment Agency Buyer and Seller may be referred to individually as the "Party", or collectively, the "Parties". 1. Terms. The principal terms of the transaction contemplated herein (the "Prospective Transaction") would be substantially as follows: (a) Prospective Transaction. The transaction being contemplated by the Parties is as follows: (i) Purchase of the following two (2) vacant lots: 1. 402 NW 12th Ave, Boynton Beach (PCN:08-43-45-21-14-000-4150) Purchase price - $30,000 2. 404 NW 12th Ave, Boynton Beach (PCN: 08-43-45-21-14-000-4140.) Purchase price - $30,000 (b) Consideration. Should a final agreement be made, the aggregate consideration for the company or interest to be purchased would be $60,000. (c) Liabilities. (i) Seller hereby acknowledge(s) that there are no liabilities, debts, or other obligations associated with the Prospective Transaction and agrees to disclose, in writing, any such information before any final agreement is executed. 2. Expenses. (a) Buyer and Seller will pay their respective expenses incident to this letter of intent and the transactions contemplated hereby and thereby. (b) Both Parties have represented to each other that no brokers or finders have been employed that would be entitled to a fee by reason of the transaction contemplated by this letter of intent 1087 2 3. Public Announcements. Neither Party will make any announcement of the Prospective Transaction contemplated by this LOI prior to the execution of the final transaction agreement without the prior written approval of the other Party, which approval will not be unreasonably withheld or delayed. The foregoing shall not restrict in any respect the Parties ability to communicate information concerning this LOI and the Prospective Transaction contemplated hereby to the Parties and their respective affiliates', officers, directors, employees and professional advisers, and, to the extent relevant, to third parties whose consent is required in connection with the Prospective Transaction contemplated by this LOI. 4. Confidentiality. This LOI and any related discussions and correspondence are to be held in strict confidence by the Parties and may not to be disclosed to any party (other than counsel to, and the accountants of, the Parties to the extent reasonably necessary for such persons to render advice in connection with the Prospective Transaction) without the prior written approval of the other Party. 5. Due Diligence. (a) Buyer may conduct a due diligence inspection of the assets and records related to the Prospective Transaction, including facilities, books and records and any other pertinent documents or information. (b) Buyer agrees to maintain the confidentiality of all data and information related to the Prospective Transaction. (c) Buyer may commence its due diligence inspection immediately upon the execution of this LOI. 6. Closing. Completion of the Prospective Transaction is anticipated to take place on 06/17/2022, following the completion of formal legal documentation. 7. Valid and Partially-Binding. (a) Except for the provisions contained in clause 7(b) below, which are explicitly agreed by the Parties to be binding upon execution of this LOI, this LOI is not intended as a legally binding commitment by the Buyer, and any obligation on the part of the Buyer is subject to the following conditions precedent: completion of legal documentation satisfactory to the Parties, satisfactory completion of due diligence by the Buyer, and delivery of all closing deliverables described in the definitive agreements. (b) The Parties hereby explicitly agree that Sections 3, 4, and 5(b) of this LOI (the "Binding Clauses") are binding obligations of the Parties. The Binding Clauses will survive termination of this LOI. 8. Governing Law. This LOI shall be governed by the laws of the STATE OF FLORIDA 9. Counterpoints. This LOI may be executed in counterparts, including by facsimile, each of which shall be deemed to be an original, but all of which together shall constitute one agreement. 10. Titles and Headings. This title and headings used in this LOI are included for convenience and shall not affect the meaning of the LOI. 1088 3 11. Severability. In the event any provision of this LOI is found to be illegal, invalid, or unenforceable, such provision will be severed from this LOI, and will not affect the legality, validity, or enforceability of any other provision contained in this LOI. 12. Expiration. This LOI expires on 08/18/2022. The Parties hereto have executed this LOI on the dates written below: By: ___Keturah Joseph ___4/18/2022_________ Keturah Joseph Executive Director Boynton Beach Faith Based Community Development Corp By: __________________________________ Thuy Shutt Executive Director Boynton Beach Community Redevelopment Agency 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 City of Boynton Beach Building Division Building Permit WARNING TO OWNER: YOUR FAILURE TO RECORD A NOTICE OF COMMENCEMENT MAY RESULT IN YOUR PAYING TWICE FOR IMPROVEMENTS TO YOUR PROPERTY. A NOTICE OF COMMENCEMENT MUST BE RECORDED AND POSTED ON THE JOB SITE BEFORE THE FIRST INSPECTION. IF YOU INTEND TO OBTAIN FINANCING, CONSULT WITH YOUR LENDER OR AN ATTORNEY BEFORE RECORDING YOUR NOTICE COMMENCEMENT. "NOTICE: IN ADDITION TO THE REQUIREMENTS OF THIS PERMIT, THERE MAY BE ADDITIONAL RESTRICTIONS APPLICABLE TO THIS PROPERTY THAT MAY BE FOUND IN THE PUBLIC RECORDS OF THIS COUNTY SUCH AS THE REQUIREMENT FOR HOME OR PROPERTY OWNERS ASSOCIATION APPROVAL, AND THERE MAY BE ADDITIONAL PERMITS REQUIRED FROM OTHER GOVERNMMENTAL ENTITIES SUCH AS WATER MANAGEMENT DISTRICTS, STATE AGENCIES OR FEDERAL AGENCIES." PROJECT NO.: RESF-2023.01.0216 ISSUE DATE:11/21/2023 It is the responsibility of the permit holder of each phase of work to procure inspections as required and to verify approvals prior to proceeding to the next phase. No inspections will be performed unless permit card is displayed and approved plans are readily available. A permit is considered NULL and VOID if an approved inspection is not received within 180 days from the issuance of this permit or after the last approved inspection. 105.4 BBA.FBC PERMIT TYPE: Building Permit ADDITIONAL DESCRIPTION: BUI LD NEW 3 BED ROOM 2 BAT H CBS HOME ON A COMBI NED LOT UNI T Y OF T I T LE HAVE ALSO BEEN UPLOAD ED PROJECT ADDRESS: 404 NW 12TH AVE, Boynton Beach, FL 33435 PCN:08434521140004140 CONTRACTOR: sunny south construction company OWNER:BOYNTON BEACH FAITH BASED CDC Building Permit - BUILD NEW 3 BEDROOM 2 BATH CBS HOME ON A COMBINED LOT UNITY OF TITLE HAVE ALSO BEEN UPLOADED 2023.02.0882 List of Required Building Inspec tions INIT.DA TE Footer Foundation Form Board Survey Slab Form D rivew ay Form Elevation Cert Beam/Column Sheathing/Strap/T rus s Roof Tin T ag/Metal W indow/D oor Buc k s Lath/Stucc o 1104 D oor/W indow Framing - Int Insulation D ryw all S crew Final Survey/Elev Cert Blower D oor Test Build Final INSPECTION REQUEST BY 3:00 PM FOR NEXT BUSINESS DAY To schedule an inspection or see results please visit: www.sagesgov.com/boyntonbeach-fl 1105 1106 1107 April 17, 2024 Theresa Utterback Development Services Manager Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave. Boynton Beach, FL 33435 RE: Request to Extend Timeframe to Provide Certificate of Occupancy Dear Ms. Utterback: Please be advised that Boynton Beach CDC is fully committed to fulfilling the terms of the Purchase and Development Agreement. However, we regret to inform you that we cannot comply with the timeline stipulated in item 18 (d), which requires us to provide a Certificate of Occupancy (CO) within six months following the permit issuance. The delay in providing the required CO is due to the fact that we have not yet started the construction. We completed the purchase of the property on January 26, 2024, and are currently working with our construction lender, Florida Community Loan Fund, and Lewis Longman Walker (closing agent) to close on the construction loan and begin construction. We could not initiate the construction loan draw-down process until the closing was completed. We anticipate that the closing on the construction loan will take place by April 30, 2024. Construction will commence immediately upon the closing. Therefore, we respectful ly request a six-month extension to complete construction and provide the required CO. We appreciate your consideration and look forward to a positive response. Thank you. Keturah Joseph Executive Director Boynton Beach CDC Boynton Beach Faith Based Community Dev. Corp. 1600 N Federal Hwy, # 12 Post Office Box 337 Boynton Beach, FL 33425 Phone: 561-752-0303 Fax: 561-244-5046 https://www.boyntonbeachcdc.org/ 1108 ____; _____ FIRST AMENDMENT TO PURCHASE AND DEVELOPMENT AGREEMENT This First Amendment to the Purchase and Development Agreement (“First Amendment”) is hereby entered into by and between the Boynton Beach Community Redevelopment Agency a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes (“SELLER”) and BOYNTON BEACH FAITH BASED COMMUNITY DEVELOPMENT CORPORATION, or its affiliated assignee (hereinafter “PURCHASER”). Individually, the SELLER or PURCHASER may be referred to herein as a “party” and collectively may be referred to herein as the “Parties.” WHEREAS, the parties previously entered into a Purchase and Development Agreement dated July 13, 2022 (the “Agreement”); and WHEREAS, the parties desire to amend paragraph 18. d. of the Purchase and Development Agreement for an extension of time in which to obtain a temporary or permanent Certificate of Occupancy; and NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both parties hereby acknowledge, the parties agree as follows: 1. Incorporation. The above recitals are hereby incorporated herein as if fully set forth. 2. Amendment Style. Amendments to the Agreement are shown as follows: additions are shown in bold format; deletions are shown in strikethrough format. 3. Amendment to Paragraph 18 of the Agreement. Paragraph 18 of the Agreement shall be amended as follows: DEVELOPMENT TIMELINE. The following events must be documented in writing and provided to the SELLER upon completion of each action (collectively the “Project Elements”). a. Submission of application to the City for site plan approval within _N/A_(___) days following receipt of a __________________________________________. b. Achievement of site plan approval from the City by _N/A_____________. c. Submission of construction documents to the City for a building permit within six (6) months of closing. Proof of permit application fees paid will be provided to the SELLER upon submission to the City. Upon City issuance of the building permit a copy will be provided to SELLER. d. Temporary or permanent certificate of occupancy to be provided within six (6) one year following building permit issuance. 4. General. Except as expressly set forth in this First Amendment, the Agreement is unmodified and remains in full force and effect, and is hereby ratified and confirmed by the parties. This First Amendment may be executed in a number of counterparts, one and all of which shall constitute the agreement of the parties, and each of which shall be deemed an original. To the extent of any conflict between the Agreement and this First Amendment, this First Amendment shall control. 1109 ____; _____ IN WITNESS WHEREOF, the Parties have executed this First Amendment as of the latest of the dates indicated below. BOYNTON BEACH FAITH BASED COMMUNITY DEVELOPMENT CORPORATION BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By:___________________________________ By:_____________________________________ Printed Name: Keturah Joseph Printed Name: Ty Penserga Title: ______________________________ Title: Chair Date: ______________________________ Date: ________________________________ WITNESS: ___________________________________ Printed Name: _______________________ WITNESS: _____________________________________ Printed Name: _________________________ WITNESS: ___________________________________ Printed Name: _______________________ WITNESS: _____________________________________ Printed Name: _________________________ Approved as to form and legal sufficiency:_________________________________ CRA Attorney 1110 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 OLD BUSINESS AGENDA ITEM 14.B SUBJECT: Discussion and Consideration of the Submittals from the Request for Proposals for Property Appraisal Services SUMMARY: As part of the BBCRA mission, commercial and residentially zoned properties are acquired to be used in the assemblage of larger redevelopment sites and for affordable housing initiatives. The BBCRA must obtain a property appraisal, from a state licensed appraiser, as part of its acquisition procedure. On February 13, 2024, the BBCRA Board approved a Request for Proposals (RFP) for Property Appraisal Services (Attachment I & II) from qualified firms to perform residential and nonresidential appraisals for the acquisition and disposal of properties within the BBCRA boundaries for the implementation of the 2016 Boynton Beach Community Redevelopment Plan. RFP Schedule: RFP was issued on March 1, 2024 (Attachment III). Addendum No.1 was issued on March 25, 2024 (Attachment IV). 5 appraisal firms registered for the RFP (Attachment V). 6 appraisal firms submitted responses to the RFP (Attachment VI): Anderson Carr (Attachment VII); Callaway & Price (Attachment VIII); Cushman & Wakefield (Attachment IX); Parrish & Edwards (Attachment X); Vance Real Estate Services (Attachment XI); and Walter Duke & Partners (Attachment XII). CRA staff completed a review of all responses for sufficiency, adherence to the RFP requirements, pricing and other criteria as outlined in the RFP (Attachment XIII). CRA staff determined: Anderson Carr was responsive and adhered to all aspects of the RFP. Callaway & Price and Cushman & Wakefield, were non-responsive and did not adhere to the RFP requirements. Parrish & Edwards was responsive, but added conditions on the pricing. Vance Real Estate Services was responsive, but provided ranges on the pricing. 1111 •Attachment I - 02-13-2024 CRA Meeting Minutes-Approval of RFP for Appraisal Services •Attachment II - Appraisal Services RFP •Attachment III - Public Notice and Proof of Publication •Attachment IV - Addendum #1_BBCRA RFP Appraisal Services •Attachment V - 2024 Registered Interested Parties Appraisal Services Walter Duke & Partners provided a range for pricing on non-residential properties and did not provide documented experience in a redevelopment area within Palm Beach County. Additionally, they do not perform residential appraisals. Per the RFP, the CRA Board may select up to five (5) firms. If the Board elects, each firm may provide a brief presentation per paragraph 6 of the RFP. In addition, the CRA Board retains all rights, at its sole and absolute discretion (per ¶10 of the RFP) to: a. Withdraw the RFP at any time; b. Modify the schedule associated with the RFP; c. Issue addenda to the RFP; d. Request additional information, clarifications, or assurances from one or more proposers or prospective proposers; e. Reject any and all Proposals; f. Refrain from awarding an agreement as a result of the RFP; g. Verify the accuracy of any information provided; h. Accept Proposals that deviate from the RFP; i. Disqualify or reject Proposals that are incomplete, untimely, or unclear; j. Re-advertise the RFP and accept new Proposals; k. Obtain economic feasibility studies or third-party evaluations with regard to any part of any Proposal; l. Evaluate the Proposals through any process that complies with the BBCRA Procurement Policy, this RFP, and applicable Florida Statutes, m. Select one or more successful Proposals or proposers it deems will be in the best interests of the BBCRA, regardless of which Proposal appears to offer the best monetary value to the BBCRA; n. Waive any required element or condition found in the RFP for all Proposals or for a specific Proposal; o. Waive any formalities associated with the RFP; p. Negotiate agreements, abandon or withdraw from negotiations, approve agreements, and take other similar actions as a result of the RFP FISCAL IMPACT: To be determined by the CRA Board. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined by the CRA Board. ATTACHMENTS: Description 1112 •Attachment VI - Sign-In Sheet for RFP Responses •Attachment VII - Anderson Carr RFP 24-001 Appraisal Services •Attachment VIII - Callaway & Price RFP 24-001 Appraisal Services •Attachment IX - Cushman & Wakefield RFP 24-001 Appraisal Services •Attachment X - Parrish & Edwards RFP 24-001 Appraisal Services •Attachment XI - Vance Real Estate Services RFP 24-001 Appraisal Services •Attachment XII - Walter Duke & Partners RFP 24-001 Appraisal Services •Attachment XIII - Evaluation RFP 24-001 Appraisal Services 1113 1114 Page 1 of 19 4871-2926-7865, v. 1 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES Issue Date: March 1, 2024 Submittal Deadline: April 2, 2024, no later than 2:00 p.m. The Boynton Beach Community Redevelopment Agency (BBCRA) is issuing this Request for Proposals (RFP) for property appraisal services from qualified firms to perform residential and nonresidential appraisals for the acquisition and disposal of properties within the BBCRA boundaries for the implementation of the 2016 Boynton Beach Community Redevelopment Plan (City of Boynton Beach Ord. 16 -018), as it may be amended from time to time. The BBCRA is authorized pursuant to Florida Statutes, Chapter 163, Article III, The Community Redevelopment Act of 1969, as amended, to request proposals for property appraisal services, and to enter into agreements with contractors for such services. The BBCRA will accept sealed proposals at its office located in City Hall at 100 E. Ocean Avenue, 4th floor, Boynton Beach, FL 33435 ON OR BEFORE April 2, 2024, no later than 2:00 p.m. Eastern Standard Time (EST), as determined by the time stamp or clock at the BBCRA’s reception area on the 1st Floor Lobby. Responses to this RFP (“Proposals”) received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. All Proposals will be date and time stamped by the BBCRA. Faxed or emailed Proposals will not be accepted. The RFP documents, including all related attachments, must be obtained from the BBCRA office or website at www.boyntonbeachcra.com (Select RFPs/RFQs/ITBs from the Redevelopment top dropdown menu). 1. Background The City of Boynton Beach (City), with a population of eighty thousand (80,000), is the third largest city in Palm Beach County, Florida. It is located approximately forty-five (45) miles north of Miami and fifteen (15) miles south of West Palm Beach. This puts it in the heart of southeast Florida’s rapidly growing tri-county Miami- Dade/Broward/Palm Beach metropolitan area. The BBCRA District is 1,650 acres in size and mainly lies along the US1 corridor. Information, plans, annual report, programs and a d istrict map may be found on the BBCRA webpage: https://www.boyntonbeachcra.com The BBCRA was created in order to eliminate slum and blighted conditions, promote neighborhood revitalization, encourage redevelopment and help create affordable housing opportunities within the Community Redevelopment Area of the City of Boynton Beach. The acquisition of the commercial and residentially zoned properties is primarily for assemblage for larger redevelopment sites, while the acquisition of the residentially zoned properties is primarily to initiate affordable housing initiatives. Additional information regarding The BBCRA’s objectives as it relates to the acquisition and disposal of properties within its boundaries 1115 Page 2 of 19 4871-2926-7865, v. 1 can be found in the Community Redevelopment Plan at https://www.boyntonbeachcra.com/about- bbcra/plans-and-documents 2. Proposer Registration All entities interested in responding to this RFP must register with the BBCRA via email by providing their name, address, telephone number, and an email address to Theresa Utterback, BBCRA Development Services Manager, at UtterbackT@bbfl.us. Any information concerning addenda, changes, additions, clarifications, notices, and other topics related to this RFP will be sent to registered proposers using the registration information provided. 3. Additional Information After the Proposals are received by the BBCRA, the BBCRA may make requests to proposers for clarifications, assurances, or for other details including, but not limited to, financial and disclosure data relating to the Proposal or proposer (including all affiliates, officers, directors, partners and employees). Any inquiries of a general nature applicable to all proposers will be directed to all proposers. Following submission of a Proposal, the proposer agrees to promptly deliver such further details, information and assurances, including, but not limited to, financial and disclosure data relating to the Proposal and/or the proposer (including the proposer’s affiliates, officers, directors, partners and employees), as requested by the BBCRA. 4. Scope of Services a. The BBCRA is soliciting Proposals from qualified firms to provide summary form residential or narrative nonresidential market value appraisal reports in PDF files via e-mail within fourteen (14) calendar days of receiving the notice to proceed from BBCRA (the “Project”). The Project work product shall be in conformity with the requirements of the Uniform Standards of Professional Appraisal Practice (USPAP) as adopted by the Appraisal Standards Board of the Appraisal Foundation. PDF appraisal file s shall be emailed to utterbackt@bbfl.us. At least one (1) original signed copy of appraisal to be delivered to: Theresa Utterback, Dev. Services Manager, Boynton Beach CRA, 100 E. Ocean Avenue, 4th Floor, Boynton Beach, FL 33435. b. Minimum qualifications: i. Current licensure by the State of Florida as a certified residential or general appraiser for a minimum of five (5) years. Must provide proof of licensure with submission. ii. Five (5) years documented experience in the Palm Beach County real estate market within a redevelopment area verified through a resume and reference. iii. Three (3) verifiable references from work performed in the last five (5) years. 5. Submittal Requirements a. Location and Deadline. Proposals must be received by the BBCRA at 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 on or before April 2, 2024, no later than 2:00 p.m. Eastern Standard Time (the “Deadline”), as determined by the time stamp or clock at the BBCRA’s reception area on the 1st Floor Lobby. Proposals received after the date and time set forth above will NOT BE ACCEPTED FOR CONSIDERATION. Proposers may withdraw submitted Proposals and resubmit at any time prior to the Deadline. b. Form and Number of Copies. Proposals must be delivered in a sealed box or envelope. Faxed and emailed Proposals will not be accepted. In total, one (1) bound original Proposal document must be 1116 Page 3 of 19 4871-2926-7865, v. 1 submitted with a title page listing the name of the RFP and the submitting proposer along with one (1) unbound but clipped copy of the complete Proposal and one (1) digital copy of the complete Proposal in PDF format on a labeled CD/DVD or thumb drive. Proposals shall be clearly marked on the outside of the envelope or delivery box container as follows: Request for Proposals for Property Appraisal Services Boynton Beach Community Redevelopment Agency City of Boynton Beach, Florida Issue Date: March 1, 2024 Submittal Deadline: April 2, 2024, no later than 2:00 p.m. (EST) c. Completeness. All Proposals must be complete upon submittal to the BBCRA. d. Signature. The Proposal, and any documents submitted with the Proposal that require a signature, must be signed by an individual authorized by proposer to legally bind and represent proposer. e. All responses must be submitted on the provided Price Quotation Response Form, Attachment “A”. Bid responses on vendor letterhead/quotation forms shall not be accepted. Responses must be typewritten or printed in ink, and must be signed in ink by an agent of the company having authority to bind the company or firm. FAILURE TO SIGN THE BID RESPONSE FORM AT THE INDICATED PLACES SHALL BE CAUSE FOR REJECTION OF THE BID. f. All responses must indicate whether or not the Respondent is a Local Business via submittal of a Certification Statement pursuant to City of Boynton Beach Administrative Policy Man ual, Policy No.: 10.14.01(D) (Chapter: 10, Section: 14, Subject: 01; Paragraph D. https://www.boynton- beach.org/364/Local-Business-Preference g. Failure to Meet Submittal Requirements. The failure to: meet the Deadline, submit a Proposal that complies with the form and number of copies requirements, or submit a complete Proposal, may result in the Proposal being rejected and returned at the sole discretion of the BBCRA. h. Proposal validity. Proposals shall remain valid and binding on proposers for ninety (90) days after the submittal date. i. Required Elements of Proposals Proposals must contain all of the following documents and information, and all requirements contained in this RFP, in order to be deemed complete. Proposals not deemed complete may be rejected. • Tab 1 - Cover Letter and Introduction • Tab 2 - Demonstrated Experience for Firm and Project Personnel by providing resumes for all potentially assigned staff documenting experience with the Palm Beach County Real Estate market within a redevelopment area for the last five (5) years. • Tab 3 - References. Provide three (3) verifiable references from the last five (5) years; and, 1117 Page 4 of 19 4871-2926-7865, v. 1 • Tab 4 - Cost of Services – Describe the fee structure, including all fees and reimbursable expenses. Explain the placement guarantee the firm will provide to the BBCRA. • Tab 5 - Proof of proper licensing by the State of Florida for all potentially assigned staff. Provide a certificate of good standing from the Secretary of State of Florida and the state in which the corporation is headquartered, if not Florida. • Tab 6 - Proof of General, Professional, and Commercial Liability Insurances. The BBCRA reserves the right to ensure and require that the insurance coverages provided by the successful firms are proper and that the insurers are licensed or otherwise qualified to do business in Florida. If at any time during the term of the agreement, the BBCRA should determine that it is in its best interests to insist on an alternative insurance provider, it may do so and the firms agree to comply with the BBCRA's decision. The BBCRA also reserves the right to review, modify, or amend any required coverages, limits, and endorsements during the life of a agreement and any extensions thereof. The BBCRA further reserves the right, but not the obligation, to review and reject any insurer providing coverage on the firms’ behalf because of the insurer’s poor financial condition or due to the insurer’s failure to operate legally in the State of Florida. • Tab 7 - Provide a PowerPoint presentation of the Proposal, consisting of no more than ten (10) slides • Attachment “A” – Price Quotation Response Form • Attachment “B” – Addenda Acknowledgement • Attachment “C” – Public Entity Crimes Statement • Attachment “D” – Certification of Drug Free Workplace Program • Attachment “E” – Authorization for Release of Information • Attachment “F” – Certification of Non-Scrutinized Company • Attachment “G” – Proposer(s) Information • Attachment “H” – Acknowledgement Letter 6. RFP Proposal Evaluation and Selection Process The BBCRA staff shall review each Proposal and make a determination as to whether each Proposal meets the minimum submission requirements for review, including whether the Proposal is complete, and whether it fully complies with the terms and conditions outlined in this RFP . A proposer’s failure to provide a substantially complete RFP response submission may result in the submission not being evaluated. The BBCRA may request clarification of submitted information from any Proposer. The confidentiality of proprietary information from competing Proposers shall be maintained to the extent permitted by law. In addition to meeting the minimum requirements of this RFP, each Proposal will be evaluated based on the information provided and on the following criteria, which are listed below in order of importance. As noted 1118 Page 5 of 19 4871-2926-7865, v. 1 below, adequate capability to successfully undertake the proposed Project is a minimum standard which shall be met before any other criterion is considered . Criteria Provided in Information Demonstrated Experience for Firm and Project Personnel Tab 2 References Tab 3 Cost of Services Attachment “A” After the BBCRA staff reviews the proposals for completeness and evaluates the Proposals based on the criteria above, the BBCRA staff will present the results of the review and evaluation proc ess to the BBCRA Board at a public meeting. The Proposers will present their Proposals and their PowerPoint presentations before the BBCRA Board at their regular scheduled meetings in the City Commission Chambers at City Hall located at 100 E. Ocean Avenue. In the selection of the successful Proposer(s) (if any), the BBCRA Board will consider all proposals that meet the minimum submission requirements for review, the BBCRA staff review, the BBCRA Advisory Board recommendation if required, and/or any other relevant data. At the conclusion of the public presentations, a Proposer may be selected by the BBCRA Board. However, the BBCRA Board is under no obligation to select a Proposer regardless of their ranking, and can, at its sole discretion, opt to terminate the RFP process or continue the process to a subsequent meeting. Award Criteria: The BBCRA may take into account Local Business Preference (City of Boynton Beach Resolution No. R17-076), assuming all minimum qualification criteria are met by the Proposer and the submission includes all required attachments. The BBCRA reserves the right to make multiple awards for this RFP. The Proposer is expected to perform all work offered to them, unless they are unable to perform it for lack of resources or technical ability. The Proposer may be found in default of the Agreement if it declines more than 20% of the offered work, or if it establishes a pattern of accepting only the more desirable work and declining less desirable work as determined by the BBCRA. Up to five (5) firms can be selected through this RFP. The term of each agreement with each firm will be for three (3) years, with an option for up to one (1), one (1) year extension. Any resulting agreement shall be considered non-exclusive. The existence of a contractual relationship between a Proposer and the BBCRA is contingent upon successful negotiations between the BBCRA and a selected Proposer, and execution of an agreement by both parties. Therefore, upon selection of a successful Proposer, the BBCRA and the successful proposer will then enter into negotiations for an Agreement that will contain terms substantially similar to those contained in the successful proposal and this RFP. Any Agreement must be in a form approved by the BBCRA Board and BBCRA legal counsel. If the BBCRA and the successful Proposer are not able to agree upon an Agreement satisfactory to both parties within sixty (60) days of the selection of the successful Proposer, Proposer shall have the right to terminate the negotiations. The BBCRA may terminate negotiations at any time for any reason. The BBCRA may withdraw its offer of agreement, including a final offer, at any time prior to acceptance of such agreement. Upon termination of negotiations or withdrawal of offer of agreement, the BBCRA may move forward as it deems appropriate, which may include entering into negotiations with another proposer, re-advertising the RFP, electing to terminate the RFP process, or any other action it deems to be in the best interest of the BBCRA. 1119 Page 6 of 19 4871-2926-7865, v. 1 7. Cancellation/Termination Any response may be withdrawn prior to the date and time the proposals are due. An e-mail or letter withdrawing a Proposal must be sent by an authorized representative of the Respondent. All submittals will become a public record of the BBCRA upon receipt and are subject to public disclosure consistent with Chapter 119 of the Florida Statutes. Any response not withdrawn shall constitute an irrevocable offer, for a period of one hundred and twenty (120) calendar days. 8. Tentative Schedule The following tentative schedule is anticipated for actions related to this RFP. All dates, times, and locations are subject to change. All changes will be posted to the BBCRA’s website at www.boyntonbeachcra.com RFP Approval by BBCRA Board (subject to legal review): February 13, 2024 Issue Date of RFP: March 1, 2024 Question/Request for Clarification Deadline: March 22, 2024 Submittal Deadline: April 2, 2024 Presentation to BBCRA Board and Approval: May 14, 2024 CRAAB Review TBD (Note: Dates above subject to change – registered interested parties will be notified by email of changes, if any.) 9. Contact and Questions a. Contact Information. All correspondence, questions, and requests for clarifications related to this RFP must be directed to the person designated as the procurement officer for this RFP: Theresa Utterback, Development Services Manager Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue 4th Floor Boynton Beach, Florida 33435 Phone: (561) 600-9094 Email: UtterbackT@bbfl.us b. Form of Contact; Answers in the Form of Addenda. All correspondence, questions, and requests must be submitted in writing via email to the person identified above and may be submitted at any time but no later than March 22, 2024. All answers to questions, clarifications, and interpretations will be issued in the form of addenda, which become part of this RFP. The proposer must acknowledge receipt of each addenda by completing the Addenda Acknowledgement Form and including it with the submitted Proposal (see Attachment “B”). It is the responsibility of all proposers to obtain, review and respond to any and all addenda issued. Oral explanations, information, and instructions shall not be considered binding on the BBCRA. All proposers are encouraged to independently verify the accuracy of any information provided. Neither the BBCRA nor any of its agents or employees shall be responsible for the 1120 Page 7 of 19 4871-2926-7865, v. 1 accuracy of any oral information provided to any proposer, or to any assumptions made by proposer. Written responses to all written questions submitted shall be maintained by the BBCRA in the RFP file. c. Limitations on Communications; Cone of Silence; No Lobbying. Proposer or persons acting on proposer’s behalf may not contact, between the release of the solicitation and the end of the seventy- two (72) hour period following the BBCRA posting the notice of intended award (excluding Saturdays, Sundays, and state holidays), any employee, officer, or Board Member of the BBCRA concerning any aspect of this RFP, except in writing to the procurement officer or as provided in the RFP documents. Violation of this provision may be grounds for rejecting a Proposal. Further, during the same time period, proposer or persons acting on proposer’s behalf may not contact any BBCRA Advisory Board Member, or any other person working on behalf of the BBCRA on any matter related to this RFP. Communication prohibited by this RFP, or by any other state, federal, or local law or regulation, may cause an individual or firm to be disqualified immediately from participating in the Proposal or selection process. Any violation of this condition may result in rejection and/or disqualification of the proposer’s Proposal. For purposes of this section, persons acting on proposer’s behalf shall include, but not be limited to, the proposer’s employees, partners, attorneys, officers, directors, consultants, lobbyists, or any actual or potential subcontractor or consultant of the proposer. This “Cone of Silence/No Lobbying” is in effect from the date of publication of the RFP and shall terminate at 1) the time the BBCRA Board selects a proposer, rejects all Proposals, or otherwise takes action which ends the solicitation process; or 2) at the end of the seventy-two (72) hour period following the BBCRA posting the notice of intended award, excluding Saturdays, Sundays, and state holidays, whichever is later. 10. Disclosure and Disclaimer Proposer understands and acknowledges that to the extent permitted by law, the BBCRA retains all rights, at its sole and absolute discretion, to: a. Withdraw this RFP at any time; b. Modify the schedule associated with this RFP; c. Issue addenda to this RFP; d. Request additional information, clarifications, or assurances from one or more proposers or prospective proposers; e. Reject any and all Proposals; f. Refrain from awarding an agreement as a result of this RFP; g. Verify the accuracy of any information provided; h. Accept Proposals that deviate from this RFP; i. Disqualify or reject Proposals that are incomplete, untimely, or unclear; j. Re-advertise this RFP and accept new Proposals; k. Obtain economic feasibility studies or third-party evaluations with regard to any part of any Proposal; 1121 Page 8 of 19 4871-2926-7865, v. 1 l. Evaluate the Proposals through any process that complies with the BBCRA Procurement Policy, this RFP, and applicable Florida Statutes, m. Select one or more successful Proposals or proposers it deems will be in the best interests of the BBCRA, regardless of which Proposal appears to offer the best monetary value to the BBCRA; n. Waive any required element or condition found in this RFP for all Proposals or for a specific Proposal; o. Waive any formalities associated with this RFP; p. Negotiate agreements, abandon or withdraw from negotiations, approve agreements, and take other similar actions as a result of this RFP. Any proposer who submits a Proposal in response to this RFP fully acknowledges all the provisions of this disclosure and disclaimer and agrees to be bound by the terms hereof. In the event of any differences between this disclosure and disclaimer and the balance of the RFP, the provisions of this disclosure and disclaimer shall govern. If proposer fails to fully comply with all requirements of this RFP, proposer or proposer’s Proposal may be disqualified. 11. Protests. The Bid Protest Policy is available upon request. Submittal of a Proposal in response to this RFP constitutes acceptance of this policy. 12. Non-Discrimination. The selected proposer, on behalf of itself, its successors and its assigns, agrees that no person shall, on the ground of race, color, disability, national origin, religion, age, familial status, sex, or sexual orientation, be subjected to discrimination in any way that is associated with the RFP, the BBCRA, the Proposal, any agreement resulting from this RFP, or the Project. Respondents are hereby notified that pursuant to Section 287.05701, Florida Statutes, the BBCRA may not request documentation concerning or consider a vendor's social, polit ical, or ideological interests when determining if the respondent is a responsible respondent, and may not give preference to a respondent based on the respondent's social, political, or ideological interests. 13. Permits, Taxes, Licenses and Laws. The successful proposer will be required to pay for and/or obtain, at its own expense, all permits, licenses, fees, and taxes required, and to comply with all federal, state, and local laws, ordinances, rules, and regulations applicable to responding to this RFP and carrying out the Project. 14. Sensitive and Proprietary Information. The BBCRA will maintain the confidentiality of sensitive and proprietary information to the extent permitted by law. The BBCRA will consider all other information, documentation and other materials submitted in response to this RFP to be of non-confidential and/or non-proprietary in nature and therefore subject to public disclosure under Chapter 119 of the Florida State Statutes. If a proposer believes any portion of a proposal is exempt from public records disclosure, the proposer must identify the portion of the proposal it believes it is exempt, state the reason for exemption, and request the BBCRA exempt it from public records disclosure. The BBCRA will exempt portions of a proposal from public records disclosure only to the extent permitted by law. 1122 Page 9 of 19 4871-2926-7865, v. 1 15. Public Records. The BBCRA is public agency subject to Chapter 119, Florida Statutes. The successful proposer shall comply with Florida’s Public Records Law. Specifically, the successful proposer shall: a. Keep and maintain public records that ordinarily and necessarily would be required by the BBCRA in order to perform the service; b. Provide the public with access to such public records on the same terms and conditions that the BBCRA would provide the records and at a cost that does not exceed that provided in chapter 119, Fla. Stat., or as otherwise provided by law; c. Ensure that public records that are exempt or that are confidential and exempt from public record requirements are not disclosed except as authorized by law; and, d. Meet all requirements for retaining public records and transfer to the BBCRA, at no cost, all public records in possession of the proposer upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt. All records stored electronically must be provided to the BBCRA in a format that is compatible with the information technology systems of the BBCRA. IF PROPOSER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO PROPOSER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS RFP, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (561)737-3256; 100 E. Ocean Avenue, Boynton Beach, Florida 33435, TackT@bbfl.us. 16. Public Entity Crimes Statement. A person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals , or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity in excess of the threshold amount provided in F.S. Sec. 287.017 for CATEGORY TWO for a period of thirty-six (36) months following the date of being placed on the convicted vendor list. In order to qualify for consideration under this RFP, proposer must complete and attach Attachment “C” Public Entity Crimes Statement. 17. Drug Free Workplace Certification Preference shall be given to proposer(s) with drug free work programs, under the standards described in Section 287.087, Florida Statutes. Whenever two (2) or more proposals that are equal with respect to price, quality and service are received by the BBCRA or by any political subdivision for the procurement of commodit ies or contractual services, a proposal received from a business that certifies that it has implemented a drug -free workplace program shall be given preference in the award process. In order to receive such preference, the proposer shall complete and submit with its Proposal the attached certification, Attachment "D," Drug Free Workplace Certification. 1123 Page 10 of 19 4871-2926-7865, v. 1 18. E-Verify. In any agreement resulting from this RFP, t he Proposer will be required to warrant, for itself and its subcontractors, compliance with all federal immigration laws and regulations that relate to their employees. Proposer agrees and acknowledges that the BBCRA is a public employer that is subject to the E-Verify requirements as set forth in Section 448.095, Florida Statutes, and that the provisions of F.S. Sec. 448.095 will apply to such an agreement. 19. Authorization for Release of Information Proposer consents to the BBCRA checking references and contacting prior stakeholders concerning past projects proposer has completed. Bidders must complete Attachment “E” Authorization for Release of Information. 20. Non-Scrutinized Entity By submitting a bid, bidder certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. Proposers must complete Attachment “F,” Certification of Non-Scrutinized Entity. END OF MAIN DOCUMENT PROCEED TO ATTACHMENTS 1124 Page 11 of 19 4871-2926-7865, v. 1 LIST OF ATTACHMENTS: A. PRICE QUOTATION RESPONSE FORM B. ADDENDA ACKNOWLEDGEMENT C. PUBLIC ENTITY CRIMES STATEMENT D. CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM E. AUTHORIZATION FOR RELEASE OF INFORMATION F. CERTIFICATION OF NON-SCRUTINIZED COMPANY G. PROPOSER(S) INFORMATION H. ACKNOWLEDGMENT LETTER 1125 Page 12 of 19 4871-2926-7865, v. 1 ATTACHMENT “A” PRICE QUOTATION RESPONSE FORM Appraisal Fee Schedule for Each Structure/Property Type Listed: Structure/Property Type Amount ($) 1 Vacant Residential Property 2 Single-Family Detached Home 3 2-4 Unit Property 4 >5 Unit Property 5 Nonresidential Property (<10,000 square feet) 6 Nonresidential Property (>10,000 square feet) 7 Vacant Nonresidential Property By signing this response, I am certifying the above prices for services and that each are given on a per -home, unit, or property basis. Respondent Residential or General Appraiser? Authorizing Signatory Signature Address Telephone Email Address Date Local Business? If yes, include Certification Statement City of Boynton Beach Admin. Policy No.: 10.14.01(D) 1126 Page 13 of 19 4871-2926-7865, v. 1 ATTACHMENT “B” ADDENDA ACKNOWLEDGEMENT Receipt is hereby acknowledged of the following addenda to the The Boynton Beach Community Redevelopment Agency Request for Proposals (RFP) for Property Appraisal Services By entering checking YES or NO in the space provided and indicating date received. No. 1 Yes No Date____________________ No. 2 Yes No Date ____________________ No. 3 Yes No Date ____________________ No. 4 Yes No Date ____________________ No. 5 Yes No Date ____________________ RFP INFORMATION WAS OBTAINED FROM: BBCRA Website Newspaper Ad City Hall Other, please specify: ___________ _______________________________________ Authorized Signature _______________________________________ Print Name _______________________________________ Title 1127 Page 14 of 19 4871-2926-7865, v. 1 ATTACHMENT “C” PUBLIC ENTITY CRIMES STATEMENT A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not: submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; submit a bid proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; submit bids, proposals, or replies on leases of real property to a public entity; be awarded or perform work as a contractor, supplier, subcontractor or consultant under a contract with any public entity; or transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO for a period of thirty-six (36) months following the date of being placed on the convicted vendor list. As the person authorized to sign the Statement, I certify that Proposer has not been placed on the convicted vendor list within the past 36 months and complies fully with the above requirements. _______________________________ Proposer Name _______________________________ Authorized Signature _______________________________ Print Name _______________________________ Title ________________________________ Date 1128 Page 15 of 19 4871-2926-7865, v. 1 ATTACHMENT “D” CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM I certify that __________________________________, the proposer responding to this RFP, maintains a drug- free workplace program, and that the following conditions are met: (1) Proposer publishes a statement notifying employees that the unlawful manufacture, distribution, dispensing, possession, or use of a controlled substance is prohibited in the workplace; and specifying the actions that will be taken against employees for violations of such programs. (2) Proposer informs employees about the dangers of drug abuse in the workplace, the company’s policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation, and employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. (3) Proposer gives each employee engaged in providing the commodities or contractual services included in this RFP a copy of the statement specified in Subsection (1). (4) In the statement specified in Subsection (1), proposer notifies the employee that, as a condition of working in the commodities or contractual services covered under this RFP, he/she will abide by the terms of the statement; and will notify the employer (proposer) of any conviction of, or plea of guilty or nolo contendere to any violation of Chapter 893 or any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5) days after such conviction. (5) Proposer imposes a sanction on, or requires the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee’s community by, any employee who is convicted. (6) Proposer makes a good faith effort to continue to maintain a drug-free workplace through implementation of this Section 287.087, Florida Statutes. As the person authorized to sign the statement, I certify that proposer complies fully with the above requirements. Authorized Signature: _________________________________________ Date: _____________ Name & Title (typed): ____________________________________________________________ 1129 Page 16 of 19 4871-2926-7865, v. 1 ATTACHMENT “E” AUTHORIZATION FOR RELEASE OF INFORMATION To whom it may concern: The undersigned hereby authorizes you to release to the Boynton Beach Community Redevelopment Agency (BBCRA) or the City of Boynton Beach any information in your possession regarding the undersigned either of a professional credit or personal nature including the statement of your opinions with regard to the undersigned’s professional credit and personal character, or of the proposer identified below. The undersigned also authorizes you to release to the Boynton Beach Community Redevelopment Agency (BBCRA) or the City of Boynton Beach any information in your possession regarding the business identified as “proposer” below. By: Print Name: _________________________ Title: _______________________________ Proposer (Business) Name (D/B/A if applicable): ______________________________________ Current Business Address: ________________________________________________________ ______________________________________________________________________________ Federal Tax ID#: ___________________________ State of Incorporation: _________________ STATE OF FLORIDA COUNTY OF _______________________________ THE FOREGOING INSTRUMENT was acknowledged before me this day of , 20___, by _____ who is personally known to me or who has respectively produced as identification and did not take an oath. Notary Public: Print Name: ______________ Commission No: (Seal) My Commission Expires: 1130 Page 17 of 19 4871-2926-7865, v. 1 ATTACHMENT “F” CERTIFICATION OF NON-SCRUTINIZED COMPANY _____________________________, as proposer, hereby certifies that it is not on the Scrutinized Companies that Boycott Israel List created pursuant to Section 215.4725, Florida Statutes, and is not engaged in a boycott of Israel. If the BBCRA determines that this certification is falsified or contains false statements, or that proposer is placed Scrutinized Companies that Boycott Israel List or engages in a boycott of Israel after the submittal of the Proposal or the execution of any agreement arising out of this RFP, the BBCRA may disqualify the Pr oposal and/or terminate the agreement. _______________________________ Proposer Name By: ____________________________ Authorized Representative of Proposer Date: __________________________ STATE OF FLORIDA COUNTY OF _______________________________ THE FOREGOING INSTRUMENT was acknowledged before me this day of , 20___, by _____ who is personally known to me or who has respectively produced as identification and did not take an oath. Notary Public: Print Name: ______________ Commission No: (Seal) My Commission Expires: 1131 Page 18 of 19 4871-2926-7865, v. 1 ATTACHMENT “G” PROPOSER(S) INFORMATION Name: ________________________________________________________________________ Street Address: _________________________________________________________________ Mailing Address (if different): ______________________________________________________ City, State, Zip: _________________________________________________________________ Telephone No.: _______________________ Fax No.: ___________________________________ Email Address of Contact Person: ___________________________________________________ Ownership Status - Is the company currently for sale or involved in any transaction to expand or to be acquired by another business entity? If yes, please explain the impact to the organizat ion and management efforts. _________________________________________________________ ______________________________________________________________________________ Age of Organization – In continuous business since: _____________________________________ Leadership - List Corporate Officers, Principals, Partners or owners of your Organization with titles and addresses. If a publicly held company, list Chairman of the Board, CEO, and President: __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________ Federal Identification No.: ________________________________________________________ State of Incorporation & Registration No.: ____________________________________________ If not a corporation, explain your status: _____________________________________________ ______________________________________________________________________________ 1132 Page 19 of 19 4871-2926-7865, v. 1 ATTACHMENT “H” ACKNOWLEDGMENT LETTER PROPOSER(S) SHALL INCORPORATE THIS ACKNOWLEDGEMENT LETTER IN THEIR SUBMITTAL PACKAGE ***************************************************************************** Re: Boynton Beach Community Redevelopment Agency Request for Proposal/Request for Qualifications (RFP) dated _______________ Request for Proposals for Property Appraisal Services To Whom It May Concern: The undersigned has read and understands all the procedures and requirements of the Boynton Beach CRA (BBCRA) Request for Proposals for Property Appraisal Services. On behalf of proposer identified below and our proposal team, we agree to and accept the terms, specific limitations, and conditions expressed therein. We have read, rely upon, acknowledge and accept the BBCRA’s disclosure and disclaimer, which is fully incorporated by reference into this letter, and certify that all of the requirements as described in the RFP are met and all required documents are enclosed. We further certify that all information presented in this proposal, and all of the information furnished in support of the proposal, is true and complete to the best of our knowledge and belief, and we are aware of the fact that making false statements or presenting false information that results in an Agreement may be penalized to the maximum extent allowed by law. Sincerely, _____________________________________________________________________ Name of Proposer _____________________________________________________________________ Print Name and Title _____________________________________________________________________ Authorized Signature ________________________________ Date 1133 Boynton Beach Community Redevelopment Agency Request for Proposals for Property Appraisal Services The Boynton Beach Community Redevelopment Agency (BBCRA) is issuing this Request for Proposals for Property Appraisal Services (RFP) from qualified firms to perform residential and nonresidential appraisals for the acquisition and disposal of properties within the BBCRA boundaries for the implementation of the 2016 Boynton Beach Community Redevelopment Plan (City of Boynton Beach Ord. 16-018), as it may be amended from time to time. The BBCRA is authorized pursuant to Florida Statutes, Chapter 163, Article III, The Community Redevelopment Act of 1969, as amended, to request proposals for property appraisal services, and to enter into agreements with contractors for such services. The BBCRA will accept sealed bids at its office located at 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 ON OR BEFORE April 2, 2024, no later than 2:00 p.m. (EST), as determined by the time stamp or clock at the BBCRA’s reception area as set up on the 1st Floor Lobby. All responses will be date and time stamped by the BBCRA. Responses to this RFP received after the time and date specified will not be accepted for consideration. Faxed or emailed Proposals will not be accepted. The RFP documents, including all related attachments, must be obtained from the BBCRA office or website at www.boyntonbeachcra.com (Select RFPs/RFQs/ITBs from the Redevelopment top dropdown menu). All entities interested in responding to the RFP must register with the BBCRA via email by providing their name, address, telephone number, and an email address to Theresa Utterback, BBCRA Development Services Manager, at UtterbackT@bbfl.us All requests for information are required to be submitted in writing to Theresa Utterback, BBCRA Development Services Manager, at UtterbackT@bbfl.us no later than March 22, 2024 at 5:00 p.m. (EST). The Board of the BBCRA reserves the right to accept or reject any proposals or any part thereof or any combination of proposals and to waive any or all formalities. 1134 1135 ADDENDUM NO. 1 TO BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES March 25, 2024 TO ALL PROPOSERS AND OTHERS CONCERNED The Boynton Beach Community Redevelopment Agency (BBCRA) issued a Request for Proposals for Property Appraisal Services (RFP). The intent of this Addendum to the RFP is to provide supplemental information or provide clarification when requested. Proposers submitting responses for the above-referenced project shall take note of the following changes, additions, deletions clarifications, etc., to the RFP/RFQ which shall become a part of and have precedence over anything shown or described otherwise. Question #1: It appears you are looking for standard fees for a variety of property, including commercial property. Unfortunately, we don’t provide standard fees as each property is bid individually based on the complexity of the assignment, the amount work we have on the plate, and your requested timing. This is fairly typica l in our industry. Shall I fill out the balance? I don’t want to take the time to fill everything out if it will be automatically rejected without Attac hment A stating fees. Answer: Please refer to Paragraph 5.i (Submittal Requirements; Required Elements of Proposals) of the RFP/RFQ. Proposals must contain all of the documents and information, and all requirements contained in this RFP, including but not limited to attachments A thru H. The failure to: meet the Deadline, submit a Proposal that complies with the form and number of copies requirements, or submit a complete Proposal, may result in the Proposal being rejected and returned at the sole discretion of the BBCRA. Question #2: What specific information you would like included in the cover letter and introduction? Answer: The cover letter should include the full name and address of your firm and the office that will perform the services described. It should also provide the name of the senior contact person for your firm on this project, appropriate telephone number(s), fax number and email address. The cover letter should also include any other information you feel to be relevant. 1136 RFP for Property Appraisal Services Page 1 of 1 REGISTERED INTERESTED PARTIES No. & Date CONTACT NAME NAME OF FIRM ADDRESS PHONE EMAIL WEBSITE 1. 2/28/24 Robert Banting Anderson Carr 521 S. Olive Avenue, WPB 33401 o-561-833-1661 c-561-339-2101 rbanting@andersoncarr.com cpreece@andersoncarr.com www.andersoncarr.com 2. 3/8/24 Walter B. Duke Walter Duke & Partners 2860 West State Rd. 84, Ste. 109, Ft. Lauderdale, FL 33312 o-954-587-2701 c-954-599-6328 walter@walterduke.com lisa@walterduke.com www.walterduke.com 3. 3/20/24 Brian G. Edwards Parrish & Edwards, Inc. 3450 Northlake Blvd., Ste. 285, Palm Beach Gardens, FL 33403 o-561-622-9992 c-561-236-0789 bge.brigedwards@gmail.com parrishedwards@bellsouth.net 4. 3/23/24 Claudia Vance Vance Real Estate Service 7481 NW 4th Street, Plantation, FL 33317 o-954-583-2116 c-954-647-7184 vanceval@att.net 5. 3/26/24 Michael C. McNamara Cushman & Wakefield 225 NE Mizner Blvd., Boca Raton, FL 33432 Direct-954-958- 0818 michael.mcnamara@cushwake.com cushmanwakefield.com 6. 7. 8. 9. 10. 11. 1137 Response Submittals to Request for Proposals for Appraisal Services (RFP #24-001) Issuance Date: March 1, 2024 Submission Deadline: April 2, 2024 @ 2:00 P.M. (EST) CRA Office – 100 E. Ocean Avenue, Boynton Beach, FL Sign-In Sheet PLEASE PRINT DATE TIME NAME ADDRESS CONTACT NUMBER EMAIL 3/28/24 9:49 am Parrish & Edwards, Inc. 3450 Northlake Blvd., 285 Northlake Center Palm Beach Gardens, FL 33403 561-622-9992 Bdg.brigeedwards@gmai.com 3/28/24 4:41 pm Anderson Carr 521 S. Olive Avenue West Palm Beach, FL 33401 561-833-1661 rbanting@andersoncarr.com 3/29/24 4:34 pm Callaway & Price 1410 Park Lane South, Suite 1 Jupiter, FL 33458 561-686-0333 s.shaw@callawayandprice.com 4/01/24 12:53 pm Vance Real Estate Service 7481 NW 4th Street Plantation, FL 33317 954-583-2116/954-647-7148 vanceval@att.net 4/01/24 3:08 pm Walter Duke & Partners 2860 W. State Road 84, Suite 109 Fort Lauderdale, FL 33312 954-587-2702 walter@walterduke.com 4/2/24 12:03 pm Cushman & Wakefield 225 NE Mizner Blvd., Suite 300 Boca Raton, FL 33432 954-958-0818 michael.mcnamara@cushwake.com 1138 Response Submittals to Request for Proposals for Appraisal Services (RFP #24-001) Issuance Date: March 1, 2024 Submission Deadline: April 2, 2024 @ 2:00 P.M. (EST) CRA Office – 100 E. Ocean Avenue, Boynton Beach, FL Sign-In Sheet PLEASE PRINT DATE TIME NAME ADDRESS CONTACT NUMBER EMAIL 1139 1140 1141 1142 1143 1144 1145 1146 1147 1148 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES PREPARED BY CALLAWAY & PRICE, INC. 1410 PARK LANE SOUTH, SUITE 1 JUPITER, FLORIDA 33458 PHONE: 561-686-0333 CONTACT: STEPHEN D. SHAW, MAI CERT GEN RZ1192 e-mail: s.shaw@callawayandprice.com 1170 1171 Callaway & Price, Inc. Introduction Callaway & Price, Inc. was founded in 1972 by Robert J. Callaway and Joe R. Price. The current principals in the firm are Stephen D. Shaw, Robert A. Callaway, Curtis L. Phillips and Stephen G. Neill. The company is headquartered in Palm Beach County and our market experience includes assignments throughout Florida. Clients include some of the largest public and private entities in the United States, financial institutions, attorneys, insurance companies, major oil companies, government agencies, corporations, accounting firms, real estate developers, and mortgage companies. We are currently an approved appraiser with the Boynton Beach, CRA. Clients rely on Callaway & Price's know-how and service. Our Firm's six principals have over 125 years combined real estate appraising and consulting experience. We are fully staffed with state-certified general appraisers, some of whom are designated MAIs, state-certified commercial and residential appraisers. This means we have the resources in-house to provide clients quality reports and outstanding service. Callaway & Price is one of the most respected real estate appraising and consulting firms in the industry. Our work is done in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP) and the Appraisal Institute Code of Ethics. Over its 52 year history, the Firm's appraisal consultants have performed appraisals on a wide variety of property types. Callaway & Price is particularly well known for its expertise on the more complex and difficult assignments and problem properties. Our expertise includes: Agricultural Properties, (Citrus, Cattle, etc.) Multifamily Properties Country Club/Golf Course Residential Dev. Nursing Homes/ACLF Equestrian Properties Office Buildings Historic Properties Recreational Properties Hotels/Motels Restaurants Golf Courses Service Stations Industrial Properties Shopping Centers/Regional Malls Landmark Properties Single Family Residences Marinas Special Purpose Properties Mixed-Use Properties Sports Complexes Mobile Home Parks Theaters Vacant Land (all types) 1172 Callaway & Price, Inc. Proposer’s Experience Following this page are the resumes for our appraisers for potentially assigned appraisals. 1173 Qualifications – Stephen D. Shaw, MAI, AI-GRS Professional Designations\Licenses\Certifications Member, Appraisal Institute, MAI Designation #10461 Member, Appraisal Institute, AI-GRS State-certified general real estate appraiser RZ1192 Florida State Licensed Real Estate Salesman 0495422 Professional Experience Principal, Callaway & Price, Inc., since January 1999 Senior Appraisal Consultant, Callaway & Price, Inc., since July 1997 – December 1998 Appraisal Consultant, Callaway & Price, Inc., since April 1994 Associate Appraiser, Pinel & Carpenter, Inc., Orlando, April 1992 - March 1994 Appraiser/Researcher, Callaway & Price, Inc., September 1987 - March 1992 Special Magistrate Palm Beach County 1996-2012 Special Magistrate, Martin County, 2009 Qualified as an Expert Witness Palm Beach County, Florida Martin County, Florida Broward County, Florida Sarasota County, Florida Miami-Dade County, Florida Education Bachelor of Science Degree, Business Administration, Major in Real Estate and Finance, University of Florida Appraisal Institute: Course 101 - An Introduction to Appraising Real Property, 1992 Course 201 - Principles of Income Producing Properties, 1991 Course 2-1 - Case Studies in Real Estate Valuation, 1992 Course 540 - Report Writing and Valuation Analysis, 1993 Course 2-3 - Standards of Professional Practice Parts A & B, 1991 Review Theory - General Numerous seminars sponsored by the Appraisal Institute Appraising\Consulting Expertise Acreage Medical Office Sites ACLFs Surgery Centers Apartment Complexes Self-Storage Facilities Automotive Service Facilities Office Buildings Bowling Alleys Office/Warehouses Commercial Buildings Retail Buildings Condominium Projects Restaurants Eminent Domain Special Purpose Properties Golf Courses Shopping Centers Hospitals Vacant Commercial Land Hotels Vacant Industrial Land Marinas Vacant Multifamily Pods Medical Office Buildings Vacant Residential Land Medical Office Condominiums Vacant Single-Family Subdivisions Medical Campus Sites Warehouses 1174 Qualifications – Stephen D. Shaw, MAI, AI-GRS Organizations and Affiliations Appraisal Institute: Experience Review Committee Ethics & Counseling Committee South Florida Chapter Board of Directors Business Development Board Palm Beach County, Member 1175 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESSHAW, STEPHEN DAYDo not alter this document in any form.1639 FORUM PLACELICENSE NUMBER: RZ1192EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.SUITE 5WEST PALM BEACH FL 33401Always verify licenses online at MyFloridaLicense.com1176 Qualifications - Robert A. Callaway, MRICS Professional Designations\Licenses\Certifications MRICS; Member Royal Institution Chartered Surveyors, Member #6587380, Certified General Real Property Appraiser State-Certified General Real Estate Appraiser RZ2461 State-Licensed Real Estate Broker, BK3415548 Professional Experience Principal, Callaway & Price, Inc., January 2017 - Present Executive Vice President, Callaway & Price, Inc., August 2015 – Present Special Magistrate, Value Adjustment Board, Palm Beach County, 2018 - 2020 Associate Appraiser, Callaway & Price, Inc., September 1989 – August 2015 Researcher, Callaway & Price, Inc., 1987 - 1989 Qualified Expert Witness Palm Beach County, 15th Judicial Circuit Court, State of Florida United States Bankruptcy Court Southern District of Florida Palm Beach County, Value Adjustment Board, Special Magistrate (2018 - 2021) Geographic Experience Florida, Texas, Alabama, Bahamas, Puerto Rico, St. Croix Education Bachelor of Business Administration, College of Business, Major in Real Estate, Florida Atlantic University Florida Real Estate Commission, Course 1 University of Florida, Real Estate and Finance Department: Real Estate Principles and Practice, Valuation, Law, Feasibility Florida Atlantic University, Real Estate/Finance Department: Real Estate Theory, Finance Society of Real Estate Appraisers: Real Estate Valuation Using Spreadsheet Appraising Condominium Properties American Law Institute – American Bar Association: Eminent Domain and Land Valuation Litigation American Institute of Real Estate Appraisers: Real Estate Appraisal Principles Basic Valuation Procedures 1177 Qualifications - Robert A. Callaway, MRICS Uniform Standards of Professional Appraisal Practice Appraisal Institute: Advanced Income Capitalization Uniform Standards of Professional Appraisal Practice Florida Appraisal Law Appraisal/Consulting Expertise Agricultural Lands Equestrian Properties Apartment Projects Marinas/Docks Automobile Dealerships Office Buildings/Condo Units Civic/Institutional Sites Commercial Buildings Retail Buildings Condominium Units/Projects Self-Storage Facilities Eminent Domain/Condemnation Shopping Centers Environmentally Sensitive Lands Submerged Land/Wetlands Gas Stations/Convenience Stores Special Purpose Properties Golf Courses Commercial Land Industrial Land Warehouses/Distribution Centers Residential Land Medical Office Buildings/Condos Hospitals Schools/Daycares Residential Homes/Condos 1178 Qualifications - Robert A. Callaway, MRICS 1179 Qualifications – Niccola L. Ellefson, MAI, AI-GRS 1180 Qualifications – Niccola L. Ellefson, MAI, AI-GRS 1181 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESELLEFSON, NICCOLA LDo not alter this document in any form.1410 PARK LANE SOUTH SUITE 1LICENSE NUMBER: RZ2096EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.JUPITER FL 33458Always verify licenses online at MyFloridaLicense.com1182 Qualifications – Arthur J. Grady Professional Designations/Licenses/Certifications State-certified general real estate appraiser RZ1937 Professional Experience Appraisal Consultant, Callaway & Price, Inc. since 1993 Appraisal Consultant, Matonis MacDermott, Inc. 1987-1992 Education Bachelor of Science, Physics, Stetson University Appraisal Institute: Basic Valuation Procedures Capitalization Theory and Techniques, Parts A and B Case Studies in Appraisal Introduction to Appraisal Standards of Professional Practice Parts A and B Appraisal/Consulting Experience Apartment Complexes Retail Buildings Appraisal Reviews Shopping Centers Convenience Stores Subdivisions Eminent Domain Time Share Units Hotels Town House Developments Industrial Properties Wetlands Marinas Vacant Commercial Land Medical Offices Vacant Residential Land Mixed-Use Properties Veterinary Clinic Office Buildings Warehouses Restaurants Waterfront Property 1183 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESGRADY, ARTHUR JDo not alter this document in any form.1639 FORUM PLACELICENSE NUMBER: RZ1937EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.SUITE 5WEST PALM BEACH FL 33401Always verify licenses online at MyFloridaLicense.com1184 Qualifications – James H. Mader Professional Designations\Licenses\Certifications State-certified general real estate appraiser RZ832 Florida Licensed Real Estate Salesman 0435885 Professional Experience Appraisal Consultant, Callaway & Price, Inc since February 1985 Researcher, Callaway & Price, Inc., June 1982 to January 1985 Qualified As An Expert Witness Palm Beach County, Florida Education Bachelor of Business Administration, Marketing Major, Florida Atlantic University Florida Real Estate Commission, Course I Society of Real Estate Appraisers: An Introduction to Appraising Real Property, 1983 Principles of Income Property Appraising, 1984 Applied Income Property Valuation, 1984 American Institute of Real Estate Appraisers: Appraising Troubled Property, 1992 Appraisal Theory Update, 1992 Appraisal Review - Residential Property, 1994 USPAP Update Core Law for Appraisers, 1994 Standards of Professional Practice, 1986, 1992, 1994 Capitalization Theory and Techniques, Part A, 1986 Capitalization Theory and Techniques, Part B, 1986 Real Estate Appraisal Principles, 1986 Basic Valuation Procedures, 1986 Appraising\Consulting Expertise Acreage Easements Road Abandonment Automobile Dealerships Groves RV Parks Apartment Buildings Industrial Properties Shopping Centers Commercial Buildings Life Care Facilities Special Purpose Properties Condominiums (Individual Marinas Strip Centers Units and Total Sellout) Mobile Home Parks Subdivisions/Residential Churches Motels Vacant Commercial Country Club/Golf Courses Office Buildings Vacant Residential Day Care Facilities Ranches Warehouses Duplexes Restaurants 1185 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESMADER, JAMES HDo not alter this document in any form.1410 PARK LANE SOUTH SUITE 1LICENSE NUMBER: RZ832EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.JUPITER FL 33458Always verify licenses online at MyFloridaLicense.com1186 Qualifications – James D. Murray, Jr., MAI Professional Designations\Licenses\Certifications Member, Appraisal Institute, MAI Designation #50208 State-certified general real estate appraiser RZ2419 Real Estate Salesperson SL517992, State of Florida Professional Experience Appraisal Consultant, Callaway & Price, Inc., from 2004 Commercial Real Estate Analyst, Interbay Funding, 2002 to 2004 Senior Manager, Real Estate Analyst, Ocwen Realty Advisors, 1996 to 2002 Real Estate Appraiser, Assistant Vice President, Landauer Associates, Inc., 1991-1996 Graduate Research Assistant, Real Estate Research Center, University of Florida, 1990- 1991 Project Manager, Klusza and Associates, Inc., 1986-1989 Geographic Experience Throughout Florida Property Types Auto Service and Repair Office/Warehouse Commercial Condos Proposed Projects Day Care Facilities Restaurants Mixed Use Properties Retail Mobile Home Parks Self-storage Facilities Motels/Hotels Vacant Land Multifamily Residential Warehouse Distribution Centers Office Education Master of Business Administration, Real Estate Concentration, University of Florida Bachelor of Science, Business Administration, with Honors, University of Florida Appraisal Institute Courses: Appraisal Principles Advanced Applications Appraisal Procedures Report Writing and Valuation Analysis Basic Income Capitalization Highest and Best Use and Market Analysis General Applications Advanced Income Capitalization Standards of Professional Practice (Parts A, B, C) Advanced Sales Comparison and Cost Approaches 1187 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESMURRAY, JAMES D JRDo not alter this document in any form.1043 SHADY LAKES CIR SLICENSE NUMBER: RZ2419EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.PALM BEACH GARDENS FL 33418Always verify licenses online at MyFloridaLicense.com1188 Qualifications – Joe M. Merritt Professional Designations\Licenses\Certifications State-certified general real estate appraiser RZ672 Professional Experience Staff Appraiser, First Federal Savings & Loan Association of Delray Beach, 1977-1982 Associate Appraiser, Callaway & Price, Inc., since September 1982 Qualified As An Expert Witness Circuit Court of Palm Beach County, Florida Education Florida Real Estate Commission, Course 1, 1977 Appraisal Institute: Course 101 - An Introduction to Appraising Real Property, 1978 Course 201 - Principles of Income Property Appraising, 1978 Narrative Report Writing Seminar & R-2 Examination, 1978 Course 1A-1 - Real Estate Appraisal Principles, 1987 Course 1A-2 - Basic Valuation Procedures, 1987 USPAP Core Law for Appraisers, 1994 Appraisal Review, 1994 Numerous Continuing Education Courses and Seminars by: Appraisal Institute Gold Coast Professional Schools Bert Rodgers Schools McKissock Appraisal School South Florida Water Management District Appraising\Consulting Expertise Agricultural Land Marinas Automobile Dealerships Office Buildings Civic Sites Regional Malls Commercial Buildings Retail Buildings Condominium Projects Self Storage Facilities Eminent Domain Shopping Centers Environmentally Sensitive Lands Sovereignty Submerged Land Gas Stations/Convenience Stores Special Purpose Properties Golf Courses Commercial Land Market/Feasibility Studies Industrial Land Warehouses Residential Land 1189 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESMERRITT, JOE MDo not alter this document in any form.509 CHAPEL HILL BLVDLICENSE NUMBER: RZ672EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.BOYNTON BEACH FL 33435Always verify licenses online at MyFloridaLicense.com1190 Qualifications – Cathleen A. Romaguera Professional Designations\Licenses\Certifications State-certified general real estate appraiser RZ1638 Real Estate Sales Associate SL412912 – State of Florida Professional Experience Associate Appraiser, Callaway & Price, Inc., 2018 – present Staff Appraiser and Researcher, Lawson Appraisal Service, LLC, Inc., 2010 to 2018 Associate Appraiser and researcher, Callaway & Price, Inc., 1987 to 2002 Geographic Experience Throughout Florida, North Carolina, and Tennessee. Education Bachelor of Science Degree, University of Florida Numerous Appraisal Institute Courses and Real Estate Seminars American Institute of Real Estate Appraisers Courses: Course 2-3 Standards of Professional Practice Course 2-1 Case Studies in Real Estate Valuation Course 2-2 Valuation Analysis and Report Writing Course 1B-A Capitalization Theory and Technique, Part A Course 1B-B Capitalization Theory and Technique, Part B Course 8-2, Residential Valuation Appraisal Institute Courses: Comprehensive Examination – Challenged and Passed 1992. Standards of Professional Practice A & B Standards of Professional Practice C USPAP “Core” Law for Appraisers Appraisal Guidelines Standards and Ethics for Professionals 1191 Qualifications – Cathleen A. Romaguera Other Education: Mortgage Fraud-Protect Yourself Florida Supervisor/Trainee Roles and Relationships The Dirty Dozen Florida Appraisal Laws and Regulations National USPAP Update Challenging Assignments for Residential Appraisers Appraisal of 2-4 Family and Multifamily Properties Foreclosure Basics for Appraisers Appraisal of Industrial and Flex Buildings Valuation of Residential Solar Divorce and Estate Appraisals Introduction to Expert Witness Market Disturbances – Appraisals in Atypical Markets and Cycles Appraising\Consulting Expertise Acreage Mobile Home Parks Adult Congregate Living Facilities (ALFs) Motels Apartment Complexes Nursing Homes Churches Office Buildings Commercial Buildings Planned Unit Developments Condemnations Ranches Country Clubs Restaurants Daycare Facilities Retail Properties Duplexes Service Stations Easements Shopping Centers Foreclosures Single Family Residences Golf Courses Special Purpose Properties Hotels Subdivisions Industrial Buildings Vacant Lots Life Care Facilities Warehouses Medical Buildings 1192 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESROMAGUERA, CATHLEEN ANNDo not alter this document in any form.2414 BAY VILLAGE COURTLICENSE NUMBER: RZ1638EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.PALM BEACH GARDENS FL 33410Always verify licenses online at MyFloridaLicense.com1193 Callaway & Price, Inc. References 1. City of Pompano Beach 100 West Atlantic Boulevard 4th floor Pompano Beach, FL 33060 Cassandra LeMasurier 954-786-4117 Cassandra.lemasurier@copbfl.com 2. Pacific National Bank 1390 Brickell Avenue Miami, FL 33131 Derek Yanez 305-539-7612 dyanez@pnb.com 3. Terrabank, NA 3191 Coral Way Miami, FL 33145 Teresita Menendez 305-448-4898 tmenendez@terrabank.com 1194 Callaway & Price, Inc. Cost of Services Fee structure including all fees and reimbursable expenses. All potential appraisals are quoted individually based on property type and complexity. We can provide valuations for all property types and will provide fee proposals for all inquiries made by the Boynton Beach, CRA. 1195 Callaway & Price, Inc. Proof of Proper Licensing by the State of Florida Please see resumes under proposer’s services (Tab 2) Corporate information follows this page. 1196 3/28/24, 9:36 AM Detail by Entity Name https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=CALLAW…1/3 Document Number FEI/EIN Number Date Filed State Status Department of State / Division of Corporations / Search Records / Search by Entity Name / Detail by Entity Name Florida Profit Corporation CALLAWAY AND PRICE, INC. Filing Information 394208 59-1373470 01/19/1972 FL ACTIVE Principal Address 1410 Park Lane South Suite 1 Jupiter, FL 33458 Changed: 01/22/2014 Mailing Address 1410 Park Lane South Suite 1 Jupiter, FL 33458 Changed: 01/22/2014 Registered Agent Name & Address SHAW, STEPHEN D 1410 Park Lane South STE 1 Jupiter, FL 33458 Name Changed: 03/07/2022 Address Changed: 01/22/2014 Officer/Director Detail Name & Address Title President, Treasurer SHAW, STEPHEN D 1410 Park Lane South Ste 1 D C Florida Department of State 1197 3/28/24, 9:36 AM Detail by Entity Name https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=CALLAW…2/3 Jupiter, FL 33458 Title VP, Secretary PHILLIPS, CURTIS L 1410 Park Lane South Ste 1 Jupiter, FL 33458 Title V NEILL, STEPHEN G 1410 Park Lane South Ste 1 Jupiter, FL 33458 Title V. CALLAWAY, ROBERT A 1410 Park Lane South Suite 1 Jupiter, FL 33458 Annual Reports Report Year Filed Date 2022 03/07/2022 2023 02/28/2023 2024 03/06/2024 Document Images 03/06/2024 -- ANNUAL REPORT View image in PDF format 02/28/2023 -- ANNUAL REPORT View image in PDF format 03/07/2022 -- ANNUAL REPORT View image in PDF format 02/18/2021 -- ANNUAL REPORT View image in PDF format 01/23/2020 -- ANNUAL REPORT View image in PDF format 01/03/2019 -- ANNUAL REPORT View image in PDF format 02/12/2018 -- ANNUAL REPORT View image in PDF format 01/19/2017 -- ANNUAL REPORT View image in PDF format 02/11/2016 -- ANNUAL REPORT View image in PDF format 02/03/2015 -- ANNUAL REPORT View image in PDF format 01/22/2014 -- ANNUAL REPORT View image in PDF format 03/20/2013 -- ANNUAL REPORT View image in PDF format 01/05/2012 -- ANNUAL REPORT View image in PDF format 01/13/2011 -- ANNUAL REPORT View image in PDF format 03/30/2010 -- ANNUAL REPORT View image in PDF format 03/27/2009 -- ANNUAL REPORT View image in PDF format 04/07/2008 -- ANNUAL REPORT View image in PDF format 04/20/2007 -- ANNUAL REPORT View image in PDF format 1198 3/28/24, 9:36 AM Detail by Entity Name https://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=CALLAW…3/3 03/08/2006 -- ANNUAL REPORT View image in PDF format 03/15/2005 -- ANNUAL REPORT View image in PDF format 04/09/2004 -- ANNUAL REPORT View image in PDF format 04/14/2003 -- ANNUAL REPORT View image in PDF format 02/21/2002 -- ANNUAL REPORT View image in PDF format 04/12/2001 -- ANNUAL REPORT View image in PDF format 04/19/2000 -- ANNUAL REPORT View image in PDF format 03/09/1999 -- ANNUAL REPORT View image in PDF format 03/27/1998 -- ANNUAL REPORT View image in PDF format 04/30/1997 -- ANNUAL REPORT View image in PDF format 05/01/1996 -- ANNUAL REPORT View image in PDF format 04/25/1995 -- ANNUAL REPORT View image in PDF format Florida Department of State, Division of Corporations 1199 Callaway & Price, Inc. Proof of General, Professional, and Commercial Liability Insurances Please see the following pages. 1200 1201 09/18/2023 Lott Insurance Services 4808 S US Highway 1 Fort Pierce FL 34982 Joe Lott (772) 468-1009 (772) 468-1837 JL@LOTTINS.COM CALLAWAY AND PRICE, INC 1410 PARK LANE SOUTH, SUITE #1 JUPITER FL 33458 RLI Insurance Company Mercury Indemnity Company of Americana 10193 Landmark American Insurance Compnay CL2391800436 A PEB0001341 09/20/2023 09/20/2024 1,000,000 50,000 5,000 1,000,000 2,000,000 2,000,000 Employee Benefits B BA090000018075 09/20/2023 09/20/2024 1,000,000 Hired/borrowed C Prof Liability Retention $10,000 LHR852035 retro date 7/1/1991 09/20/2023 09/20/2024 PL Each 2,000,000 Aggregate 2,000,000 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. INSURER(S) AFFORDING COVERAGE INSURER F : INSURER E : INSURER D : INSURER C : INSURER B : INSURER A : NAIC # NAME:CONTACT (A/C, No):FAX E-MAILADDRESS: PRODUCER (A/C, No, Ext):PHONE INSURED REVISION NUMBER:CERTIFICATE NUMBER:COVERAGES IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. OTHER: (Per accident) (Ea accident) $ $ N / A SUBR WVD ADDL INSD THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. $ $ $ $PROPERTY DAMAGE BODILY INJURY (Per accident) BODILY INJURY (Per person) COMBINED SINGLE LIMIT AUTOS ONLY AUTOSAUTOS ONLY NON-OWNED SCHEDULEDOWNED ANY AUTO AUTOMOBILE LIABILITY Y / N WORKERS COMPENSATION AND EMPLOYERS' LIABILITY OFFICER/MEMBER EXCLUDED?(Mandatory in NH) DESCRIPTION OF OPERATIONS belowIf yes, describe under ANY PROPRIETOR/PARTNER/EXECUTIVE $ $ $ E.L. DISEASE - POLICY LIMIT E.L. DISEASE - EA EMPLOYEE E.L. EACH ACCIDENT EROTH-STATUTEPER LIMITS(MM/DD/YYYY)POLICY EXP(MM/DD/YYYY)POLICY EFFPOLICY NUMBERTYPE OF INSURANCELTRINSR DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) EXCESS LIAB UMBRELLA LIAB $EACH OCCURRENCE $AGGREGATE $ OCCUR CLAIMS-MADE DED RETENTION $ $PRODUCTS - COMP/OP AGG $GENERAL AGGREGATE $PERSONAL & ADV INJURY $MED EXP (Any one person) $EACH OCCURRENCE DAMAGE TO RENTED $PREMISES (Ea occurrence) COMMERCIAL GENERAL LIABILITY CLAIMS-MADE OCCUR GEN'L AGGREGATE LIMIT APPLIES PER: POLICY PRO-JECT LOC CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY) CANCELLATION AUTHORIZED REPRESENTATIVE ACORD 25 (2016/03) © 1988-2015 ACORD CORPORATION. All rights reserved. CERTIFICATE HOLDER The ACORD name and logo are registered marks of ACORD HIREDAUTOS ONLY 1202 Callaway & Price, Inc. Power Point Presentation of the Proposal We do not have the ability to generate a Powerpoint presentation but have included a PDF copy of our proposal for your review on a CD. 1203 Callaway & Price, Inc. Required Form Submittals Forms Attachment “A” – Price Quotation Response Form Attachment “B” – Addenda Acknowledgement Attachment “C” – Public Entity Crimes Statement Attachment “D” – Certification of Drug Free Workplace Program Attachment “E” – Authorization for Release of Information Attachment “F” – Certification of Non-Scrutinized Company Attachment “G” – Proposer(s) Information Attachment “H” – Acknowledgement Letter 1204 1205 1206 1207 1208 1209 1210 1211 1212 COVER LETTER AND INTRODUCTION RFP Response for Boynton Beach Community Redevelopment Agency April 2, 2024 1213 COVER LETTER AND INTRODUCTION Cover Letter and Introduction April 2, 2024 Theresa Utterback, Development Services Manager 100 East Ocean Avenue, 4th Floor Boynton Beach, Florida 33435 RE: Request for Proposals for Property Appraisal Services, Boynton Beach Community Redevelopment Agency Dear Ms. Utterback: Cushman & Wakefield (C&W) appreciates the opportunity to extend our Statement of Qualifications to the Boynton Beach Community Redevelopment Agency (BBCRA). C&W has not prepared this proposal in collusion with any other Offerors; and the contents of this proposal as to cost of services, terms, or conditions of said proposal have not been communicated at any time or in any manner by the Offerors, its employees, agents, or any interested party of the Offerors to any other Offerors. The enclosed describes our service capabilities, our firm, and resources that are engaged to provide best-in-class real estate services to our clients. I would serve as the single point of contact for this engagement, leading our team of highly regarded consulting, valuation, and transaction professionals in providing top-notch technical talent and market expertise. C&W possesses the resources to provide targeted, intelligent, and strategic real estate services to the Boynton Beach Community Redevelopment Agency across all categories enumerated in the RFP. Our experienced and diverse staffing assists thousands of organizations each year, ranging from government agencies and large-scale commercial lenders to private and individual investors. Our teams are managed by leaders, each with over 30 years of local real estate experience as real estate professionals in valuation, brokerage, and advisory services. It would be our honor and privilege to assist the Boynton Beach Community Redevelopment Agency with its strategic plan. We pledge to support you with the industry’s best real estate knowledge and top- notch customer service. I welcome you to contact me with any questions. Respectfully Submitted, Michael C. McNamara, MAI, MRICS Executive Director Valuation & Advisory Direct: +1 954 958 0818 Fax: +1 954 771 3608 michael.mcnamara@cushwake.com 225 NE Mizner Blvd., Suite 300 Boca Raton, FL 33432 | USA cushmanwakefield.com 1214 COVER LETTER AND INTRODUCTION Cover Letter and Introduction 2 Tab 2 - Demonstrated Experience for Firm and Project Personnel 4 Tab 3 - References 9 Tab 4 - Cost of Services 10 Tab 5 - Proof of proper licensing by the State of Florida for all potentially assigned staff. 11 Tab 6 - Proof of General, Professional, and Commercial Liability Insurances. 12 Tab 7 - PowerPoint Presentation of the Proposal 13 Table of Contents 1215 CUSHMAN & WAKEFIELD | 4 TAB 2 | DEMONSTRATED EXPERIENCE & PROJECT PERSONNEL Tab 2 - Demonstrated Experience for Firm and Project Personnel Demonstrated Experience for Firm and Project Personnel by providing resumes for all potentially assigned staff documenting experience with the Palm Beach County Real Estate market within a redevelopment area for the last five (5) years. PROJECT PLAN Our Valuation & Advisory team is comprised of uniquely qualified professionals experienced in a vast range of product types who are also highly skilled in consulting, feasibility studies, highest- and best- use studies, and advisory services. We offer valuations in compliance with the Uniform Appraisal Standards for Federal Land Acquisition compliance (Yellow Book), in addition to the Uniform Standards of Professional Appraisal Practice (USPAP). In addition to comprehensive coverage, we offer web-based accessibility and client-specific formats. Our reporting format will be tailored to meet the specific needs of the Boynton Beach Community Redevelopment Agency (BBCRA), providing the most beneficial information. C&W’s deep bench of highly talented valuation professionals, state of the market technology platform, and dedicated portfolio team management enable the firm to execute assignments efficiently and expeditiously. The timetable for any valuation opportunity is first dictated by a client’s needs and is achievable based on the availability of the data and access to the real estate. A generalized timetable for BBCRA’s appraisal assignment, specifically for a portfolio engagement, is summarized as follows: STAGE 1 – PROJECT INITIATION/DUE DILIGENCE/MEETINGS • Kick-off meeting with BBCRA to review the owner’s objectives and approach to the properties • C&W will collect available due diligence items • C&W and BBCRA will facilitate work session with staff or assembled working group to develop framework for prioritization of assets STAGE 2 • Property inspection scheduling • Market data collection • C&W will complete due diligence review of all assets STAGE 3 – ANALYSIS • C&W will perform valuation services STAGE 4 – REPORT WRITING • Team members will begin writing and preparing the preliminary reports STAGE 5 • Delivery of the draft report(s) as they are completed by the team 1216 CUSHMAN & WAKEFIELD | 5 TAB 2 | DEMONSTRATED EXPERIENCE & PROJECT PERSONNEL STAGE 6 • BBCRA review and comments are submitted STAGE 7 • All necessary revisions and corrections completed, and final reports submitted • C&W will meet with BBCRA to respond to any follow up questions or comments EXPERIENCE Throughout its history, C&W has continued to succeed and grow by bringing the best people, services, and solutions to its clients. With this objective in mind, and to better respond to our client’s expanding needs for real estate problem solving, Valuation & Advisory (V&A) was established to further complement C&W’s other existing core real estate services. Originally formed as the Appraisal Division, V&A has been a key service line of the firm and a participant in all the major real estate trends of the last 35+ years. V&A professionals quantify the current value and projected performance of real estate by leveraging extensive knowledge of sales and lease transactions, operating patterns, and market cyclicality to enhance client decision making regarding risk assessment, investment options, capital allocation, and redeployment opportunities. Today, V&A represents one of the largest fully integrated real estate valuation and consulting firms in the world and enjoys a successful record of serving nationally and globally prominent institutional, financial, and corporate clients in a confidential capacity. With approximately 1,970 V&A professionals located in hundreds of offices globally, we have the market knowledge, resources, experience, and geographic capabilities to provide BBCRA with a superior and seamless service response. V&A is uniquely qualified to handle large, complex multi-property assignments of all types on a national basis. We offer in-depth industry expertise, customized data assemblage, project-specific templates and workbook design, web-based and electronic report content posting and tracking. PALM BEACH COUNTY EXPERIENCE As the Port consists of 165-acres, with numerous buildings, as well as ground leases below are large Projects in Palm Beach County our Port Team has valued: MIZNER PARK IN BOCA RATON, a mixed-use project with office, retail, and residential components that is under a ground lease. The retail and office components of Mizner Park consist of 535,708 SF within a multi-story, mixed-use, and multi-tenant office, retail, and apartment complex on a 13.80-acre parcel of land. It consists of one 70-story multi-tenant office building containing 165,781 SF of net rentable area, a two-story department store, two three-story office buildings with ground floor retail containing 99,780 SF of office space and 190,332 SF of retail area. There is an additional 17.76 acres used for cultural uses, streets and Plaza Real. The residential component of Mizner Park consists of two residential towers ranging from six to nine stories, as well as two, three-story townhome buildings that contain 293,988 SF of rentable area. The multi-family portion contains 272 units. BOCA CORPORATE CENTER (FORMER IBM CAMPUS), which is considered one building, with one and three-story offices in a campus setting, which contain a total of 1,706,254 net rentable sf. The area that connects the sections contains a 200- seat conference center and a 1,500-seat cafeteria that was formerly managed by Sodexho, a national catering company, which has subsequently vacated this space. In addition, there is a 19,491 SF power station, which was constructed in 1999 located just off Spanish River Boulevard south of the main campus. 1217 CUSHMAN & WAKEFIELD | 6 TAB 2 | DEMONSTRATED EXPERIENCE & PROJECT PERSONNEL LARGE PROJECTS FLORIDA AND CARIBBEAN SOUTHEAST FINANANCIAL CENTER, completed in 1984, Southeast Financial Center is located in downtown Miami overlooking Biscayne Bay. The complex consists of a 55-story, 1.3 million sf office tower; a separate annex building that is home to the popular Downtown Athletic Club; and it also contains a beautifully landscaped open-air palm court between the two buildings. PANORAMA TOWER consisted of an 85-story, 821-unit, 98.0% occupied Class A+ residential high-rise (“Residential Tower”) and an attached 19-story, 208-room Hyatt Centric, which is net leased to an experienced hotel operator through 2067 (“Hyatt Centric Brickell”), and four floors of office space, totaling 116,400 SF across three floors. Additionally, the Property offers a private parking garage. The parking garage at 1100 Brickell Bay Drive is conveniently located within the building and features a total of 650 parking spaces, including designated spots for residents, guests, and valet parking. MIAMI RIVER DEVELOPMENT consisted of multiple vacant land parcels on the south side of the Miami River, owned by CG Miami River, LLC, and is proposed for the development of a multi-phase mixed-use high-rise development. The development is a proposed multi-phase development that is planned to contain a total of 4,620,528 developable SF, which will consist of 1,800 residential multifamily units, 200,000 SF of retail space, and 660,000 SF of office space within a four-phase development on a 6.33- acre site. ATLANTIS PARADISE ISLAND consisted of all the residential units (the Cove and The Reef) at the property, the marina, multiple vacant land parcels (residential and commercial) around the resort, as well as the remaining lots around the golf course. Note our hotel group valued all hotel units, ancillary retail, as well as the golf course. BBCRA TEAM Michael C. McNamara, MAI, MRICS, Executive Director Michael C. McNamara, MAI, MRICS, is an Executive Director and was a Multifamily Practice Group Co- Leader (from 2010 to July 2019) within the Valuation & Advisory group of C&W in Ft. Lauderdale/Boca Raton, Florida. Mr. McNamara joined C&W in August 1998 as a Senior Appraiser. In November of 2002, Mr. McNamara was named Director, was promoted to Senior Director in June 2005 and was further promoted to Executive Director in January 2010. Prior to joining C&W, Mr. McNamara was employed by Landauer Real Estate Counselors as a Director within their Valuation and Technical Services group from May 1995 through July 1998. He was an Appraiser with American Realty Consultants from January 1993 to May of 1995 and an Appraiser for Consolidated Appraisal Services from March 1992 through December 1992. From October 1989 through March 1992, he was an appraiser with Pederson & Trask. Since joining C&W, Mr. McNamara has performed appraisal, feasibility and consulting assignments involving multifamily complexes, condominiums, vacant land, office buildings, shopping centers, industrial, self-storage and investment properties throughout 12 states and 12 different islands in the Caribbean. The majority of appraisal experience has been concentrated in Florida and has been primarily for institutional investors, lending institutions, attorneys and private investors. Memberships, Licenses, Professional Affiliations and Education • Designated Member, Appraisal Institute (MAI #11052). As of the current date, Michael McNamara, MAI has completed the requirements of the continuing education program of the Appraisal Institute. • Member, Royal Institution of Chartered Surveyors (MRICS #1285269) 1218 CUSHMAN & WAKEFIELD | 7 TAB 2 | DEMONSTRATED EXPERIENCE & PROJECT PERSONNEL • Florida Licensed Real Estate Salesman (SL #553108) • Certified General Real Estate Appraiser in the following states: o Florida – RZ2105 • Bachelor of Arts, Rutgers University, Economics Adrian M. Sanchez, MAI, Executive Director Adrian M. Sanchez, MAI is an Executive Director of C&W working within Valuation & Advisory. Mr. Sanchez joined C&W in March 2003 as a Research Specialist within the Research Services Group. In June of 2003, Mr. Sanchez joined the Valuation & Advisory group as a Staff Appraiser. Mr. Sanchez has received the Excellence in Quality Service Award for the Valuation & Advisory group for the Florida region in 2006. Since joining C&W Mr. Sanchez has performed appraisal, feasibility and consulting assignments involving residential complexes, condominiums, vacant land, office buildings, shopping centers, industrial and investment properties throughout the State of Florida and the Caribbean. The majority of appraisal experience has been concentrated in Florida and has been primarily for institutional investors, lending institutions, attorneys and private investors. Memberships, Licenses, Professional Affiliations and Education • Designated Member, Appraisal Institute. As of the current date, Adrian M. Sanchez, MAI has completed the requirements of the continuing education program of the Appraisal Institute. • Certified General Real Estate Appraiser in the following states: o Florida – RZ 3239 • Bachelor of Arts, University of Miami Diego Luis, Appraiser Diego Luis is an Associate Appraiser of C&W Regional, Inc., working within the Valuation & Advisory group in Miami, Florida. Mr. Luis joined C&W in February of 2022 as a State-Registered Trainee Appraiser. Currently, Mr. Luis is involved in the research and development of appraisal assignments of multifamily buildings, shopping centers, self-storage facilities, office buildings, and commercial land parcels throughout the State of Florida. Memberships, Licenses, Professional Affiliations and Education • State-registered Trainee Real Estate Appraiser (#RI25463) • Practicing Affiliate, Appraisal Institute • Bachelor of Science Degree in Business Administration, Northeastern University Jett Caplin, Associate Appraiser Jett Caplin is an Associate Appraiser of C&W Regional, Inc. working within the Valuation & Advisory group in Miami, Florida. Mr. Luis joined C&W in June of 2022 as a State-Registered Trainee Appraiser. Currently, Mr. Caplin is involved in the research and development of appraisal assignments of multifamily buildings, shopping centers, self-storage facilities, office buildings, and commercial land parcels throughout the State of Florida. 1219 CUSHMAN & WAKEFIELD | 8 TAB 2 | DEMONSTRATED EXPERIENCE & PROJECT PERSONNEL Memberships, Licenses, Professional Affiliations and Education • State-registered Trainee Real Estate Appraiser (#RI25714) • Practicing Affiliate, Appraisal Institute • Bachelor of Science Degree in Hospitality and Tourism, Florida State University 1220 CUSHMAN & WAKEFIELD | 9 TAB 3 | REFERENCES Tab 3 - References Reverences. Provide three (3) verifiable references from the last five (5) years; and, FREDERICK A. MCDONALD, JR. MRICS Popular Bank Vice President / Property Appraisal Analyst US Corporate Credit Risk New York, NY 212.445.1883 | fmcdonald@popular.com KATARINA S GONZALES 1 First Bank Senior Vice President, Senior Credit Officer Miami, Florida 305.577.6000 Ext. 193 | katarina.gonzales@firstbankfla.com GARY D. LONG, MAI M&T Bank Senior Vice President, Credit Risk Oversight | Regional Appraisal Manager – South/Midwest 903.383.3563 | gdlong@mtb.com DEBBIE PAUZA, MAI Seacoast Bank Senior Vice President, Chief Appraiser Naples, FL 239.331.7547 | d ebbie.pauza@seacoastbank.com 1221 CUSHMAN & WAKEFIELD | 10 TAB 4 | COST OF SERVICESL Tab 4 - Cost of Services Cost of Services - Describe the fee structure, including all fees and reimbursable expenses. Explain the placement guarantee the firm will provide to the BBCRA. Please see Attachment A. 1222 CUSHMAN & WAKEFIELD | 11 TAB 5 | PROOF OF LICENSING Tab 5 - Proof of proper licensing by the State of Florida for all potentially assigned staff. Proof of proper licensing by the State of Florida for all potentially assigned staff. Provide a certificate of good standing from the Secretary of State of Florida and the state in which the corporation is headquartered, if not Florida. Please see all staff certificates below. 1223 ;Ѵ-mb;"ĺub==bmķ";1u;|-u!om ;"-m|bvķo;umou"$$ ! !$$ &""" ! ""!&$ ! !"$$!" $!$ !!"!!"!$ & !$!("" $!ƓƕƔķ ! "$$&$"!ķ!+ omo|-Ѵ|;u|_bv7o1l;m|bm-m=oulĺƑƏƏѵ) !"&!Ĺ!,ƑƐƏƔ*!$ $Ĺ(!ƒƏķƑƏƑƓ$_bvbvouѴb1;mv;ĺ|bvmѴ-=Ѵ=ou-mom;o|_;u|_-m|_;Ѵb1;mv;;|ov;|_bv7o1l;m|ĺ $ ! ƒƒƓƓƑѴ-v;ub=Ѵb1;mv;vomѴbm;-| Ѵoub7-b1;mv;ĺ1ol1224 ;Ѵ-mb;"ĺub==bmķ";1u;|-u!om ;"-m|bvķo;umou"$$ ! !$$ &""" ! ""!&$ ! !"$$!" $!$ !!"!!"!$ & !$!("" $!ƓƕƔķ ! "$$&$"",ķ !$ omo|-Ѵ|;u|_bv7o1l;m|bm-m=oulĺƒƒƒ"Ƒ (&ķ"&$ƒƖƏƏ"&!Ĺ!,ƒƑƒƖ*!$ $Ĺ(!ƒƏķƑƏƑƓ$_bvbvouѴb1;mv;ĺ|bvmѴ-=Ѵ=ou-mom;o|_;u|_-m|_;Ѵb1;mv;;|ov;|_bv7o1l;m|ĺ $ ƒƒƐƒƐѴ-v;ub=Ѵb1;mv;vomѴbm;-| Ѵoub7-b1;mv;ĺ1ol1225 CUSHMAN & WAKEFIELD 2 Florida 1226 Florida CUSHMAN & WAKEFIELD 2 1227 CUSHMAN & WAKEFIELD | 12 TAB 6 | PROOF OF INSURANCES Tab 6 - Proof of General, Professional, and Commercial Liability Insurances. Proof of General, Professional, and Commercial Liability Insurances. The BBCRA reserves the right to ensure and require that the insurance coverages provided by the successful firms are proper and that the insurers are licensed or otherwise qualified to do business in Florida. If at any time during the term of the agreement, the BBCRA should determine that it is in its best interests to insist on an alternative insurance provider, it may do so and the firms agree to comply with the BBCRA's decision. The BBCRA also reserves the right to review, modify, or amend any required coverages, limits, and endorsements during the life of a agreement and any extensions thereof. The BBCRA further reserves the right, but not the obligation, to review and reject any insurer providing coverage on the firms’ behalf because of the insurer’s poor financial condition or due to the insurer’s failure to operate legally in the State of Florida. Please see proof of insurance below. 1228 Evidence of Insurance. POLICY PRO- JECT LOC OTHER: CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY) THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND T HE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT NAME: PHONE (A/C, No, Ext): FAX (A/C, No): E-MAIL ADDRESS: INSURER(S) AFFORDING COVERAGE NAIC # INSURER A : INSURED INSURER B : INSURER C : INSURER D : INSURER E : INSURER F : COVERAGES CERTIFICATE NUMBER: REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR LTR TYPE OF INSURANCE ADDL INSD SUBR WVD POLICY NUMBER POLICY EFF (MM/DD/YYYY) POLICY EXP (MM/DD/YYYY) LIMITS COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ CLAIMS-MADE OCCUR DAMAGE TO RENTED PREMISES (Ea occurrence) $ MED EXP (Any one person) $ PERSONAL & ADV INJURY $ GEN'L AGGREGATE L IMIT APPLIES PER: GENERAL AGGREGATE $ PRODUCTS - COMP/OP AGG $ $ AUTOMOBILE LIABILITY COMBINED SINGLE LIMIT (Ea accident) $ ANY AUTO BODILY INJURY (Per person) $ OWNED AUTOS ONLY HIRED AUTOS ONLY SCHEDULED AUTOS NON-OWNED AUTOS ONLY BODILY INJURY (Per accident) $ PROPERTY DAMAGE (Per accident) $ $ UMBRELLA LIAB EXCESS LIAB OCCUR CLAIMS-MADE EACH OCCURRENCE $ AGGREGATE $ DED RETENTION $ $ WORKERS COMPENSATION AND EMPLOYERS' LIABILITY Y / N ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED? (Mandatory in NH) If yes, describe under DESCRIPTION OF OPERATIONS below N / A PER STATUTE OTH- ER E.L. EACH ACCIDENT $ E.L. DISEASE - EA EMPLOYEE $ E.L. DISEASE - POLICY LIMIT $ DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE ACORD 25 (2016/03) © 1988-2015 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD Each Claim $2,000,000 See Attached A PSDEF2300578 12/31/2023 12/31/2024 1/9/2024 E&O - MPL - Primary Cushman & Wakefield, Inc. 225 West Wacker Drive, Suite 3000 Chicago, IL 60606 Aon UK Limited 122 Leadenhall Street London EC3V 4AN United Kingdom Cushman & Wakefield, Inc. 225 West Wacker Drive, Suite 3000 Chicago, IL 60606 USA 1096365 . 23-24 Cush & Wake E&O Evidence of Insurance. As respects Errors and Omissions Liability policy PSDEF2300578, Aon Risk Services Central, Inc. is generating and distributing this certificate in an administrative capacity. Aon UK Limited is the broker for the defined policy. Aggregate $2,000,000Claims-Made Policy; SIR applies per SIR $ 350,000policy terms & conditions Limits shown are as requested 1096365 1229 PROFESSIONAL INDEMNITY COVERAGE – PRIMARY NAMED INSUREDS: Cushman & Wakefield, Inc. Cushman & Wakefield U.S., Inc. C&W Facility Services dba C&W Services Cushman & Wakefield Solutions, LLC Cushman & Wakefield ULC Policy No. PSDEF2300578 Liberty Mutual Insurance Co. – 15.88% Great Lakes Insurance SE (Munich RE Group) – 30% XL Insurance Company SE – 15.88% Greenwich Insurance Co. – 19.48% Allied World Assurance Co. Ltd. Australia Branch – 14% Lloyd’s of London Syndicate 1274 – 4.76% ADDITIONAL REMARKS SCHEDULE LOC #: AGENCY CUSTOMER ID: ADDITIONAL REMARKS THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, FORM NUMBER: ACORD 25 FORM TITLE: Evidence of Professional Indemnity Insurance NAMED INSURED EFFECTIVE DATE: 12/31/2023 to 12/31/2024 NAIC CODE See Below CARRIER See Below POLICY NUMBER AGENCY Aon UK Limited See Below Page 1 of 1 © 2008 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORD ACORD 101 (2008/01) 1230 CUSHMAN & WAKEFIELD | 13 TAB 7 | POWERPOINT PRESENTATIONS Tab 7 - PowerPoint Presentation of the Proposal Provide a PowerPoint presentation of the Proposal, consisting of no more than ten (10) slides Please see PDF document of our PowerPoint Presentation: BBCRA PPT.pdf 1231 CUSHMAN & WAKEFIELD | 14 APPENDIX MICHAEL MCNAMARA Executive Director, Valuation & Advisory +1 954 958 0818 michael.mcnamara@cushwake.com ADRIAN SANCHEZ Executive Director, Valuation & Advisory +1 954 377 0450 adrian.sanchez@cushwake.com ©202 3 Cushman & Wakefield. All rights reserved. The material in this presentation has been prepared solely for information purposes and is strictly confidential. Any disclosure, use, copying or circulation of this presentation (or the information contained within it) is strictly prohibited, unless you have obtained Cushman & Wakefield’s prior written consent. The views expressed in this presentation are the views of the author and do not necessarily reflect the views of Cushman & Wakefield. Neither this presentation nor any part of it shall form the basis of, or be relied upon in connection with any offer, or act as an inducement to enter into any contract or commitment whatsoever. No representation or warranty is given, express or implied, as to the accuracy of the information contained within this presentation, and Cushman & Wakefield is under no obligation to subsequently correct it in the event of errors. 1232 1233 1234 1235 1236 1237 1238 1239 1240 ORIGINAL REQUEST FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY CITY OF BOYNTON BEACH, FLORIDA ISSUE DATE: MARCH 1, 2024 SUBMITTAL DEADLINE: APRIL 2, 2024, NO LATER THAN 2:00 PM (EST) PREPARED FOR BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ATTENTION: THERESA UTTERBACK, DEV. SERVICES MANAGER 100 E. OCEAN AVENUE, 4TH FLOOR BOYNTON BEACH, FL 33435 PREPARED BY PROPOSER’S CONTACT PERSON: MR. BRIAN G. EDWARDS, MAI PARRISH & EDWARDS, INC. 3450 NORTHLAKE BLVD. #285 NORTHLAKE CENTER PALM BEACH GARDENS, FL 33403 PHONE NO.: 561-622-9992 CONTACT EMAIL: bge.brigedwards@gmail.com DATE: MARCH 25, 2024 1241 CONTENTS I.COVER PAGE - LETTER OF INTRODUCTION Identification Introduction/Principals of Firm II.EXPERIENCE AND QUALIFICATIONS OF THE FIRM Experience Work Examples within the last 5 years Resumes II.REFERENCES Attorneys and Government Agencies IV.COST OF SERVICES Price Quotation Response Form and Comments V.LICENSING Licenses VI.INSURANCE Proof of Insurance VII POWER POINT (provided) ADDENDA Attachments A-H Corporate Support Documentation Approved Appraiser Support Documentation 1242 1243 EXPERIENCE Principal of Firm: Brian G. Edwards, MAI - President (approx. 35 years experience) Associates Sandra Coxson, Office Manager, Document Processor (approx. 40 years experience) Joseph N. Stair, State Certified General Appraiser #RZ2952 (approx. 23 years experience) Heidi Edwards, Researcher, Document Processor, (approx. 34 years experience) Since 1985, our firm has been serving the appraisal needs of lenders, developers, insurance companies, mortgage brokers, investors, attorneys, utility companies, real estate brokers, government agencies, and individuals. Our appraisal services are tailored to the requirements of each valuation assignment. This flexibility allows us to estimate the market value, determine the highest and best use, and analyze the feasibility of a project. We have experience with a variety of assignment types and we provide quality appraisal services. The company was incorporated in 1985 by J. Kenneth Parrish who has since retired (2019). Mr. Brian G. Edwards has been with the company since 1989 and became a partner of the corporation in January 1997. Since Mr. Parrish’s retirement, Mr. Brian “Brig” Edwards has been sole manager/contact for the company. Brig has a Chemical Engineering Degree from the University of Florida and a Masters Degree in Business Administration (MBA) from the University of Texas at Austin. He is also a member of the Appraisal Institute. Brig has had extensive experience appraising all types of residential and commercial properties, and he has qualified as an expert witness in Palm Beach County Circuit Court. He has also served as a Special Master to oversee and rule on Tax Appeals for Palm Beach County. The principal of the firm is an MAI appraiser and continues his professional education through the Appraisal Institute. Our firm has been providing a variety of services to municipalities and other governmental agencies for many years. Some of our clients have included Palm Beach County, St. Lucie County, City of Delray Beach, Town of Jupiter, Village of Wellington, Village of Royal Palm Beach, City of West Palm Beach, City of Greenacres, and other municipalities, as well as the Florida Department of Environmental Protection, School District of Palm Beach County, and Florida Power & Light. 1244 Recent examples of real estate appraisal experience similar to what may be requested by the Boynton Beach CRA are as follows: •For the Town of Jupiter, we prepared an appraisal for the possible acquisition of 2.0 acres of a larger 185.05-acre site that is zoned “PO”, Public Ownership. The fee simple market value was based upon the Hypothetical Condition that the Subject Property has been subdivided from the larger 185.05-acre site and can be sold off separately. We also assumed that the zoning would remain similar to the existing zoning allowing primarily institutional type uses such as a school, church, public safety facility, or other similar type use. (2024) •For the City of Greenacres, we appraised an 8.69-acre residential site consisting of two contiguous parcels. The smaller site parcel contained 2.50 acres, and the larger parcel contained 6.19 acres. Both properties were improved with older single-family residences and the larger property had a 2.25-acre lake on the property. The site was being appraised for future expansion of their existing facilities. (2022) •For St. Lucie County, we appraised a free-standing, one-story, CBS restaurant building containing a building area of 4,199 square feet situated on a 27,500 square foot site. The property had a public use covenant that could potentially restrict the allowable uses on the site, if enforced, to public uses. At the request of the client, St. Lucie County, we provided four values to assist the client in rendering a decision on the potential sale of the property: 1) a fee simple market value based on the hypothetical condition that the public use covenant does not exist, the property is not encumbered by a lease, and the site is zoned tourist commercial, 2) a leased fee market value based on the existing lease, the hypothetical condition that the public land use covenant does not exist, and the site is zoned tourist commercial, 3) a fee simple market value considering the existence of the public use covenant, but based on the hypothetical condition the lease does not exist, 4) a leased fee market value considering the existence of the public use covenant and lease. (2024) •For City of Delray Beach, our firm appraised two parcels in establishing the recommended compensation for acquisitions as part of the Thomas Street Pump Station Project. We estimated the fee simple market values of the Parent Tracts (land only) which were be used to provide an opinion of value for each of permanent and temporary construction easements including any potential damages or cost to cure as a result of the acquisition of the easements. (2024) •For Delray Beach CRA, we have recently appraised 1) a 1,614 square foot CBS single family residence located in a commercially zoned area, 2) a 6,910 square foot vacant commercial site located at the southwest corner of S.W. 10th Avenue and W. Atlantic Avenue, 3) a 22,275 square foot site consisting of three contiguous parcels currently improved with a 6,350 square foot retail building, located on the northwest corner of NW 5th Avenue and NW 1st Street. The sites were being appraised for the future expansion of the redevelopment area. (2024) 1245 •For Palm Beach County Right-of-Way, we appraised 7 parcels and 1 temporary construction easement on Old Dixie Highway between Yamato Road and Linton Boulevard. Four of the parcels were whole takes (Parcels 148, 149, 150, and 153), two parcels were partial takes (Parcels 151 & 152) and one parcel was a temporary construction easement (Parcel 307). The assignment was to estimate compensation for the real estate takes (the land and affected site and structural improvements) utilizing the appropriate approaches to value. These seven parcels were located within the municipality of Delray Beach and Boca Raton and had Planned Commercial, Automotive Commercial, and C-1, Commercial zoning designations. (2023) 1246 QUALIFICATIONS BRIAN G. “BRIG” EDWARDS, MAI STATE CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ1303 PERSONAL Born in Rome, GA. Resident of Palm Beach County, Florida for over 40 years. EDUCATION University of Florida - 1980-1985 B.S. Degree in Chemical Engineering University of Texas at Austin - 1987-1989 Master’s in Business Administration (MBA) with a concentration in real estate. PROFESSIONAL AFFILIATIONS Member - The Appraisal Institute, MAI Member No. 10,815 (1995) PROFESSIONAL SERVICE Served as a Special Master to oversee Tax Appeals for Palm Beach County. Qualified as an Expert Witness in Palm Beach County Circuit Court. GEOGRAPHIC LOCATIONS FOR ASSIGNMENTS COMPLETED Florida Virginia Pennsylvania Wisconsin Texas Connecticut WORK EXPERIENCE Parrish & Edwards, Inc. - Partner, January, 1997 to Present Commercial Appraiser, August 1989 to January, 1997 Golf Investment Advisors, Inc. - Principal, October 1998 to June 2001 Bailey Controls Company, Houston, TX - Acting District Service Manager 1986-1987 Service Engineer 1985-1986 TYPES OF PROPERTY APPRAISED Adult Congregate Living Facilities (ACLF) Office Buildings Apartment Complexes Permanent Easements Community Shopping Centers Residential Projects Distribution Warehouses Restaurants Golf Courses R/W Acquisitions Hotels/Motels Service Stations Manufacturing Plants Single Family Residences Marina Special Purpose Properties Mini-Storage Facilities Vacant Acreage: Commercial & Residential Multi-Family Up to 4 Units Vacant Lots Neighborhood Shopping Centers Wetlands TYPES OF VALUATION/CONSULTATION SERVICES PERFORMED Appraisals Leasehold & Lease Fee Valuations Condemnations Market Studies Feasibility Reproduction/Replacement Cost Estimates Highest & Best Use Studies 1247 PROFESSIONAL COURSES / SEMINARS (MOST RECENT) Appraisal of Owner Occupied Commercial Properties, January 2021 Appraising Small Apartment Buildings, January 2021 Online Business Practices and Ethics, January 2021 The Cost Approach, January 2021 Commercial Land Valuation, January 2021 Intro to Expert Witness Testimony, December 2020 Uniform Appraisal Standards-Federal Land Acquisitions (Yellow Book), Dec., 2020 Commercial Land Valuation, November 2020 Online Business Practices and Ethics, February 2020 FL National USPAP, February 2020 Real Estate for Sales Associate, January 2020 Managing Appraiser Liability, December 2019 The Income Approach: An Overview, November 2019 The Cost Approach, November 2019 Florida Appraisal Law, June 2018 FL National USPAP, June 2018 Appraisal of Owner Occupied Commercial Properties, December 2017 Appraising Small Apartment Properties, December 2017 Appraisal of Land Subject to Ground Leases, January 2017 FL National USPAP, October 2015 Appraisal Law and Regulations, September 2015 Appraisal of self Storage Facilities, May 2015 Essential Elements/Disclosures/Disclaimers, May 2015 Appraisal of Assisted Living Facilities, May 2015 Online Business Practices and Ethics, May 2015 Online Analyzing Operating Expense, January, 2014 The Cost Approach, January, 2014 The Dirty Dozen, January 2014 Appraisal Application of Regression Analysis, October, 2013 FL Appraisal Laws and Regulations, September 2013 FL National USPAP, September 2013 Using your HP12C Financial Calculator, October 2012 Florida Appraisal Laws and Rules October 2012 FL National USPAP, January 2012 Appraisal/Analysis Income Properties, December 2011 Ad Valorem Tax Consultation, December 2010 Appraisal/Analysis Office Buildings for Mtg. Underwriting, December 2010 FL National USPAP, November 2010 Florida Appraisal Laws and Regulations February 2010 Feasibility, Market Value, Investment Timing: Option Value January 2010 Cost Approach January 2010 Florida Supervisor/Trainee Roles and Relationships January 2010 Income Capitalization January 2010 Online Analyzing Operating Expenses January 2010 1248 QUALIFICATIONS OF APPRAISER Joseph N. Stair State Certified General Real Estate Appraiser #RZ2952 Personal Born in Chicago, Illinois; Resident of Palm Beach County, Florida since January 1989. Education Eastern Illinois University – 1983-1987, Bachelor of Arts Degree Work Experience 1995-1998 - Owned and Operated - Putter Around III (Golf Club Sales and Manufacturing) March 1999 to Present - Commercial Appraiser with the appraisal firm of Parrish & Edwards, Inc. Types of Property Appraised Medical Condos Car Washes Hotels Feasibility Study Motels Restaurants Daycare Facilities Golf Courses Office Warehouse Schools Multi-Tenant Office Buildings Community Centers Commercial Retail Marinas Vacant Commercial Land Automobile Dealership Vacant Residential Land Office/Warehouse Condos Vacant Civic Land Vacant Agricultural Land Single Family Residential Gas Stations Special Purpose Properties Auto Service Stations Mini Storage Facilities Multi Tenant Residential Mobile Home Parks 1249 Professional Courses/Seminars (recent) National USPAP Update, 2018 Florida Appraisal Law, 2018 The Income Approach: 2018 The Sales Comparison Approach, 2018 Florida Appraisal Law, 2016 FL National USPAP, 2016 The Income Approach: Case Studies for Commercial Appraisals, 2016 National USPAP Florida Appraisal Law AB3-Lic. General Appraisal Course AB2-Lic. Res. Appraisal Course 2 Business Appraisal AB1-Lic. Res. Appraisal Course 1 Goldcoast Professional School 1250 REFERENCES (Partial List of Clients) ATTORNEYS Mr. Barry S. Balmuth, Esquire Barry S. Balmuth, P.A. Florida Bar Board Certified Specialist in Civil Trial Law and Business Litigation Law The Oaks Center - 2505 Burns Road Palm Beach Gardens, Florida 33410 Ph: (561) 242-9400 ext. 102 Mr. B. Douglas MacGibbon, Esq. B. Douglas MacGibbon, P.A. 141 Santa Monica Avenue Royal Palm Beach, FL 33411 Ph: 561-632-4758 Mr. Thomas J Baird, Esq. Jones & Foster P.A. Florida Bar Board Certified City, County and Local Government Attorney 4741 Military Trail, Suite 200 Jupiter, Florida 33458 Ph: 561-650-8233 or 561-659-3000 GOVERNMENT AGENCIES Ms. JoAnn Riley Property Acquisition Manager St. Lucie County 2300 Virginia Avenue. Fort Pierce 34982 Ph: 772-462-2825 Mr. Scott Reynolds Finance Director Town of Jupiter 210 Military Trail, Jupiter, Florida 33458 Ph 561-741-2327 Email scottr@jupiter.fl.us Ms. Christine Tibbs Assistant Director Delray Beach CRA 20 North Swinton Avenue Delray Beach, Florida 33444 Ph: 561-276-8640 1251 No1252 COST OF SERVICES/FEE SCHEDULE/TIME OF COMPLETION The typical time frame required to complete a FNMA residential form appraisal report is approximately 7 to 14 days. In-depth appraisal reports are often required for multi-family, commercial, industrial, and other property types involving the valuation of complex properties. We acknowledge our reports will be completed within the time frame as agreed upon in the letter agreement, between appraiser and County, from the date of a notice to proceed by the CRA. In- depth appraisal reports are often required for commercial, industrial, and other property types involving the valuation of complex properties. Because our firm has experienced associates, we can typically accommodate most time frames requested and deliver reports in a timely manner. Should the CRA have a special assignment that needs to be completed in a faster time frame than is typical for most of our assignments, we can usually accommodate these time frames. Our workload is flexible enough to accommodate short notice work. Price Proposal: Our standard appraisal fee for a residential FNMA form format is $600 with additional charges applicable for more complex residential properties and reflected in the response form. The Price Quotation Response Form has been included within this bid package to the CRA. More complex properties may also be required from the CRA and we have clarified some of these price quotes here for reference. The price range for narrative appraisal reports is based on the complexity and time involvement we will have on the assignment. Generally, our appraisals on vacant land range in cost from $1,950 to $4,800 and on improved properties from $2,350 to $6,000. No other fees are expected to be paid by the CRA than what has been provided in the Price Quotation Response Form and confirmed at the time of acceptance of assignment. Our hourly rate for litigation services is $300.00 per hour. A breakdown of our typical hourly rates are as follows: Cost per Hour Principal Appraiser, MAI $300.00 Staff Appraisers (Associate) $100.00 Researcher $75.00 Expert Witness $200.00 Update Appraisal 50% of original fee 1253 LICENSING 1254 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESEDWARDS, BRIAN GDo not alter this document in any form.3418 WEST MALLORY BOULEVARDLICENSE NUMBER: RZ1303EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.JUPITER FL 33458Always verify licenses online at MyFloridaLicense.com1255 1256 1257 1258 1259 1260 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESSTAIR, JOSEPH NEWTONDo not alter this document in any form.7164 SADDLE ROADLICENSE NUMBER: RZ2952EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.LAKE WORTH FL 33463Always verify licenses online at MyFloridaLicense.com1261 INSURANCE 1262 1263 1264 1265 1266 1267 ADDENDA 1268 Page 11 of 19 4871-2926-7865, v. 1 LIST OF ATTACHMENTS: A.PRICE QUOTATION RESPONSE FORM B.ADDENDA ACKNOWLEDGEMENT C.PUBLIC ENTITY CRIMES STATEMENT D.CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM E.AUTHORIZATION FOR RELEASE OF INFORMATION F.CERTIFICATION OF NON-SCRUTINIZED COMPANY G.PROPOSER(S) INFORMATION H.ACKNOWLEDGMENT LETTER 1269 No1270 1271 1272 1273 1274 1275 1276 1277 1278 1279 1280 1281 1282 1283 1284 1285 1286 1287 1288 REQUESTS FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY CITY OF BOYNTON BEACH, FLORIDA ISSUE DATE: March 1, 2024 PROPOSER VANCE REAL ESTATE SERVICE 7481 NORTHWEST 4 STREET PLANTATION, FL 33317 954·583·2116 (o) 954·647·7148 (m) Email: vanceval@att.net Web Site: www.vancerealestateservice.com 1289 TAB 1 Cover Letter & Introduction 1290 MBA in REAL ESTATE DEVELOPMENT & MANAGEMENT VANCE REAL ESTATE SERVICE 7481 Northwest 4th Street, Plantation, FL 33317-2204 954/583-2116 vanceval@att.net March 26, 2024 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue 4th Floor Boynton Beach, FL 33435 Re: Request for Proposals for Property Appraisal Services Ladies and Gentlemen: Vance Real Estate Service (Vance) is submitting this proposal to be considered for continuing to deliver property appraisal services to the Boynton Beach Community Redevelopment Agency (BBCRA). Vance has prepared 180 property valuations for the BBCRA during the past nine years, listed on a resume in this proposal. Jesse B. Vance, Jr. and Claudia Vance are the appraisers; there are no trainees or employees with the company. Vance Real Estate Service is a small, owner-operated business with one office in Plantation, Florida. The Boynton Beach Redevelopment Agency has transformed the redevelopment area from a blighted zone to a rejuvenated community by acquiring properties, forming assemblages and providing land for new projects. Property valuations from Vance are used in decision making by the BBCRA. We appreciate the opportunity to be part of the area’s revitalization, and look forward to maintaining the privilege. Vance appraisal fees are in the low end of the market range due to the accumulation of data from the constant focus of real estate activity in Boynton Beach. Our response time to appraisal requests are during the same day. Delivery time for an assignment is typically two weeks after being engaged for it. We are always available for additional information or clarifications. Thank you for the opportunity to submit this proposal. Respectfully submitted, Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser RZ-85 Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 1291 TAB 2 Demonstrated Experience 1292 Page 1 of 3 Jesse B. Vance, Jr., MAI, SRA, ASA, MBA Appraiser · Real Estate Analyst · Reviewer · Expert Witness Vance Real Estate Service · 7481 NW 4 Street · Plantation · Florida · 33317 Office: 954·583·2116; Cell: 954·610·2423; Email: vanceval@comcast.net Web Page: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 45 years. Designated appraisers perform the appraisal work, no trainees. Jesse B. Vance, Jr., MAI, SRA, ASA, MBA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, bankruptcies, deficiency judgments, marriage dissolution, and estate valuations. Our firm values most types of real property interests for sale, mortgage loans, litigation and investment reasonably, timely and professionally. As licensed real estate brokers, we perform most other real property functions. We also do “Valuations for Financial Reporting.” PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ DEGREES/ LICENSES & CERTIFICATIONS MAI DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 SRA DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 ASA DESIGNATION - AMERICAN SOCIETY OF APPRAISERS (RE-Urban) #003439 MBA DEGREE - REAL ESTATE MANAGEMENT AND DEVELOPMENT STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ-85 (Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO. BK. 91050 REGISTERED VETERAN-OWNED SMALL BUSINESS (CCR/Duns 826494957) FLORIDA CERTIFIED SDVBE BUSINESS ENTERPRISE (Minority Business Enterprise - MBE) FLORIDA “D.E.P.” APPROVED APPRAISER B) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION 1. U.S. Court of Appeals, Eleventh Circuit 2. U.S. District Court, Southern District of South Florida 3. U.S. District Court, New Jersey 4. U.S. Bankruptcy Court, Southern District of Florida 5. U.S. Bankruptcy Court, District of New Jersey 6. U.S. Bankruptcy Court, Western (Pittsburgh) Division of Pennsylvania 7. Florida Circuit Courts: Broward, Dade, Palm Beach, Lee, Collier, Martin, and Okeechobee Counties 8. Appraiser on landmark eminent domain cases: TESSLER, NESS TRAILER PARK, PATEL, SIMPSON v. FILLICHIO, RUBANO, PALM BEACH COUNTY (FL) vs. COVE CLUB INVESTORS, LTD. C) EXPERIENCE Over thirty-five (35) years appraising and analyzing real property interests in South Florida. Partial list: RESIDENCES, RESTAURANTS/BARS, APARTMENT BUILDINGS, OFFICE BUILDINGS HOTELS/MOTELS, CHURCHES, CONDOMINIUMS/COOPS, HOSPITALS & NURSING HOMES, VACANT LAND, GOLF COURSES, GOLF CLUBS, GASOLINE SERVICE STATIONS, MARINAS, TRAILER PARKS, SHOPPING CENTERS, BANKS/THRIFT INSTITUTIONS, BOWLING ALLEYS, P.U.D.'S, INDUSTRIAL BUILDINGS, TIME-SHARE DEVELOPMENTS, ROCK PITS, SCHOOLS, AGRICULTURAL PROPERTIES, WATER MANAGEMENT DISTRICT, MARKETABILITY, FEASIBILITY ANALYSES, INVESTMENT ANALYSES, AUTO SALES FACILITIES, LEASE VALUATIONS, TAX & ASSESSMENT APPEALS, CONDEMNATION, EXPERT WITNESS (Member National Forensic Center), BUSINESS ENTERPRISE VALUATIONS (BEV), (VFR) VALUATION FOR FINANCIAL REPORTING, AVIGATION & CLEARANCE EASEMENTS, ESTATES, DIVORCES, PLANNING/LAND USE STUDIES, HIGHEST & BEST USE ANALYSES, DEPRECIATION ANALYSES, COMPONENT APPRAISALS, ENVIRONMENTALLY SENSITIVE LAND, CONTAMINATED PROPERTIES, SUGARCANE & TURFGRASS LAND, DAY CARE CENTERS, SELF-STORAGE FACILITIES, FUNERAL HOMES, ANIMAL HOSPITALS, SUBMERGED LAND, CITY CENTERS, etc. 1293 Page 2 of 3 D) PARTIAL LIST OF CLIENTS PRIVATE INDIVIDUALS AND CORPORATIONS, ATTORNEYS, ACCOUNTANTS, TRUST DEPARTMENTS, COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; American National Bank; Landmark Bank; City National Bank; BankUnited; Gateway American Bank; State Farm Bank; Englewood Bank & Trust; SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES; FLORIDA CITIES: FORT LAUDERDALE, PLANTATION, COOPER CITY, TAMARAC, LAUDERHILL, BOCA RATON, DEERFIELD BEACH, OAKLAND PARK, WILTON MANORS, HOLLYWOOD, WEST PALM BEACH, DELRAY BEACH, HALLANDALE, PEMBROKE PINES, COOPER CITY, TOWN OF DAVIE, TOWN OF SOUTHWEST RANCHES, MIRAMAR. FLORIDA COUNTIES: BROWARD, PALM BEACH, COLLIER, OKEECHOBEE; BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS; OKEECHOBEE BOARD OF COUNTY COMMISSIONERS. SCHOOL BOARD OF BROWARD COUNTY, FLORIDA, BROWARD COUNTY HOUSING AUTHORITY, STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION (DOT); STATE OF FLORIDA DIVISION OF GENERAL SERVICES(GSA); N. BROWARD GENERAL HOSPITAL DISTRICT; STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (Approved Vendor);U.S. TREASURY DEPARTMENT (General Counsel, I.R.S.); U.S. MARSHAL'S SERVICE – U.S. ATTORNEY’S OFFICE CENTRAL DIVISION – U.S. Dept. of Justice; VETERANS ADMINISTRATION E) EDUCATIONAL BACKGROUND - (Partial List) ACADEMIC: BACHELOR OF ARTS - Earlham College, Richmond, Indiana (1954) MBA (Nova University) - Real Estate Management & Development (National Dean's List 1991) Professional: Qualifying courses for the SRA and SREA designations from the Society of Real Estate Appraisers Qualifying courses for the MAI designation from the Appraisal Institute F) APPRAISAL TEACHING EXPERIENCE Licensed by the Florida Department of Education to Teach (Certificate No. 275236). Authored and taught Residential and Commercial Real Estate Appraisal Courses for Broward County Adult Education Program. Taught Course 101 - Society of Real Estate Appraisers. Taught Course 201 - Society of Real Estate Appraisers. Taught Appraisal Seminars - Board of Realtors, ASA, SREA, and AI (Appraisal Institute). Adjunct Professor, University of Florida Division of Continuing Education: (taught Course 2, "Real Estate Principles and Practices" to prospective Florida Real Estate Brokers). G) PROFESSIONAL OFFICES HELD/AWARDS NATIONAL B.O.D. MEMBER - BOARD OF DIRECTORS of APPRAISAL INSTITUTE (2006- 2008) AWARD - Appraisal Institute “NATIONAL PRESIDENTS AWARD” 2008 AWARD - Appraisal Institute “LIFETIME ACHIEVEMENT AWARD” 2011 For “high ethical standards, contributions to the Appraisal Institute, Community and Appraisal Profession for at least 20 years.” CHAIR - REGION X - All of Florida - Appraisal Institute (2008) VICE-CHAIR - REGION X - All of Florida - Appraisal Institute (2007) THIRD DIRECTOR - REGION X - All of Florida - Appraisal Institute (2006) FINANCE OFFICER - REGION X – All of Florida – Appraisal Institute (2006) PRESIDENT - BROWARD COUNTY, SOCIETY OF REAL ESTATE APPRAISERS PRESIDENT - BROWARD COUNTY, AMERICAN SOCIETY OF APPRAISERS CHAIR - FLA. STATE GOVERNMENT RELATIONS SUBCOMMITTEE OF AI CHAIR - FLA. STATE LEGISLATION & REGULATION SUBCOMMITTEE OF AI G) PROFESSIONAL OFFICES HELD/AWARDS CHAIR - FLORIDA REALTORS COMMITTEE ON COMMITTEE REFORMS CHAIR - EDUCATION COMMITTEE, FT. LAUDERDALE CHAPTER AI CHAIR - CANDIDATES GUIDANCE COMMITTEE, FT .LAUDERDALE CHAPTER AI CHAIR - NATIONAL Valuation for Financial Reporting PROJECT TEAM OF AI VICE CHAIR & MEMBER - NATIONAL GOVERNMENT RELATIONS COMMITTEE OF AI (15 Years) MEMBER - NATIONAL LONG RANGE PLANNING COMMITTEE OF AI MEMBER - NATIONAL PUBLIC AFFAIRS COMMITTEE OF AI DIRECTOR - REGION X (Florida ) Appraisal Institute MEMBER - REGION X (FLORIDA) ETHICS AND COUNSELING PANEL 1294 Page 3 of 3 DIRECTOR - BROWARD COUNTY, FLORIDA SOCIETY OF REAL ESTATE APPRAISERS DIRECTOR - SOUTH FLORIDA CHAPTER AMERICAN SOCIETY OF APPRAISERS MEMBER - NATIONAL EXPERIENCE REVIEW PANEL MEMBER OF AI SPECIAL MASTER - BROWARD COUNTY BOARD OF TAX ADJUSTMENT COMMISSIONER - 17TH JUDICIAL CIRCUIT COURT, Broward County, FL MEMBER - 2013 APPRAISAL INSTITUTE NATIONAL BUSVAL PROJECT TEAM H) PROFESSIONAL PUBLICATIONS & PRESENTATIONS Wrote and taught a basic Residential Appraisal Course for the Broward County Adult Education Div. of the Dept. of Education; Wrote and taught an Income Appraisal Course for the Broward County Adult Education Division of the Department of Education; Co-authored and taught an appraisal course on Mortgage-Equity Capitalization for the American Society of Appraisers. Authored and taught a Florida State and Appraisal Institute 3-hour accredited course in "The Legislation, Regulation and Appraisal of Real Property Rights in Florida September 7, 1996. Presentation on “Gramm-Leach -Bliley” Federal Privacy Act of 1999 for South Florida Chapter of American Society of Appraisers on October 24, 2001. Presented 3-hour Florida CEU-credit seminar on “Appraisers and the Gramm-Leach-Bliley Act” before the South Florida Chapter of the Appraisal Institute on July 27, 2002. Presenter at 6.5 Hour CLE-credit Attorney Seminar on Florida Eminent Domain, “Valuation and Damage Issues” February 2, 2006, Fort Lauderdale, Florida I) CIVIC INVOLVEMENT MEMBER OF ROTARY INTERNATIONAL / PAUL HARRIS FELLOW MEMBER OF THE GREATER FORT LAUDERDALE OPERA GUILD MEMBER FLORIDA PHILHARMONIC BROWARD TRUSTEES MEMBER OF THE BROWARD COUNTY LIBRARY SUPPORT GROUP ("BYBLOS") MEMBER CIRCLE OF FRIENDS – NOVA SOUTHEASTERN LIBRARY FOUNDATION MEMBER NOVA SOUTHEASTERN UNIVERSITY ALUMNI ASSOCIATION MEMBER OF THE FORT LAUDERDALE HISTORICAL SOCIETY MEMBER OF THE BROWARD COUNTY MUSEUM OF THE ARTS MEMBER OF THE FORT LAUDERDALE / BROWARD COUNTY CHAMBER OF COMMERCE MEMBER OF THE BETTER BUSINESS BUREAU OF SOUTH FLORIDA LIFETIME HONORARY MEMBER FLORIDA SHERIFF’S ASSOCIATION MEMBER NATIONAL & FT. LAUDERDALE COUNCILS U.S. NAVY LEAGUE U.S. ARMY VETERAN WWII (RA 17212681) - HONORABLE DISCHARGE 1949 1295 Claudia Vance, MAI Appraiser · Real Estate Analyst · Reviewer Vance Real Estate Service · 7481 NW 4 Street · Plantation · FL · 33317 Office: 954·583·2116 Cell: 954·647·7148 Email: vanceval@att.net Web Site: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 40 years. Designated appraisers perform the appraisal work, no trainees. Our appraisals are used for financial/ mortgage loan purposes from large mixed use complexes to small owner - occupied properties. We have the qualifications for appraisals submitted to SBA. Jesse B. Vance, Jr., MAI, SRA, ASA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, deficiency judgments, marriage dissolution, and estates. Our firm values most types of real property interests, timely, professionally, and at competitive costs. PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ LICENSES MAI Designation - APPRAISAL INSTITUTE No. 9451 State-Certified General Real Estate Appraiser No. RZ-173 Florida State Licensed Real Estate Broker No. BK 0161305 VOSB Veteran-Owned Small Business (CCR/Duns 826494957) B) WORK HISTORY 1983 - Current Vice President - Vance Real Estate Service 1981 – 1983 President - The Appraisal Company, Fort Lauderdale, Florida C) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S. Bankruptcy Court, Southern District of Florida Florida Circuit Court: Broward County D) PROFESSIONAL DEVELOPMENT PROGRAM REGISTRIES Valuation of Sustainable Buildings: Commercial Valuation of Sustainable Buildings: Residential E) EXPERIENCE: 40+years appraising and analyzing real property interests in South Florida. F) APPRAISER SPECIAL MAGISTRATE FOR THE BROWARD CO VALUE ADJUSTMENT BOARD 2002-2010 Partial list of real property types valued: High value residences, Condominiums/ Co -operatives, Office, Industrial, Multi-family, Restaurants/ bars, Auto dealerships, City Centers, Hotels/ motels, Houses of worship, Schools, Child care centers, Self-storage, Funeral home, Animal Hospital, Mixed use, Nursing homes, Gas sales stations, Marinas, Mobile home parks, Shopping centers, Country clubs/ golf courses, Financial institutions, Bowling centers, Vacant land, Agricultural properties, Environmentally sensitive land Types of Reports: Market Value, Eminent Domain, Marketability, Feasibility, Highest and Best Use, Investment Analyses, Partial Interests, Easement Valuations, Estate planning, Marriage dissolution, Land use studies, Damage/ Contamination studies 1296 G) PARTIAL LIST OF CLIENTS – PRIVATE: Individuals, Corporations, Attorneys, Accountants, Habitat for Humanity, Seminole Tribe of Florida COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; Citigroup; Space Coast Credit Union; State Farm Bank; Florida Shores Bank; American National Bank; Landmark Bank; City National Bank; Evermore Bank National Bank SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES FLORIDA CITIES: Fort Lauderdale, Plantation, Cooper City, Deerfield Beach, Tamarac, Oakland Park, Wilton Manors, North Lauderdale, Davie, Pembroke Pines, Hallandale Beach, Lauderhill, Southwest Ranches, Miramar, Boca Raton, Boynton Beach, West Palm Beach, Delray Beach FLORIDA COUNTIES and AGENCIES: Broward, Palm Beach, Broward County Board of County Commissioners, School Board of Broward County, Broward County Housing Authority, Fort Lauderdale Community Redevelopment Agency, Boynton Beach Community Redevelopment Agency STATE OF FLORIDA Department of Transportation (FDOT), Department of Environmental Protection U.S. Department of Veterans Affairs, U.S. Department of Treasury (IRS), U.S Marshall’s Service, U.S. Attorney H) EDUCATIONAL BACKGROUND Academic: Bachelor of Arts Degree – University of New Orleans, New Orleans, LA – Major: English Professional: Qualifying courses for the MAI designation I) PROFESSIONAL INVOLVEMENT Region X Representative of the Appraisal Institute 2006 – 2009 President of the South Florida Chapter of the Appraisal Institute - 2003 First Vice-President of the South Florida Chapter of the Appraisal Institute -2002 Second Vice-President of the South Florida Chapter of the Appraisal Institute -2001 Secretary of the South Florida Chapter of the Appraisal Institute -2000 Treasurer of the South Florida Chapter of the Appraisal Institute - 1999 Chair of the Education Committee of the S. Florida Chapter of the Appraisal Institute - 1995, 1996, 1997, 1998, 2007- 2018 Director of the South Florida Chapter of the Appraisal Institute 1996 - 1998 Member of Region X (Florida) Ethics and Counseling Panel –AI Newsletter Editor of the South Florida Chapter of the Appraisal Institute – 2020-current Graduate of the Florida REALTORS Institute (GRI) J) CIVIC INVOLVEMENT Member of the Navy League of the United States – Fort Lauderdale Council Lifetime Honorary Member- Florida Sheriff’s Association Member of Zeta Tau Alpha Alumnae Fraternity 1297 4. Scope of Services b. ii. Documentation of experience through a resume and reference Resume of experience in the Boynton Beach Community Redevelopment Area: See attached resume of appraisals prepared for the CRA to document experience in the Palm Beach real estate market within a redevelopment area The resume documents 180 valuations in 9 years. Reference: Theresa Utterback Development Services Manager Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue, 4th floor Boynton Beach, FL 33435 utterbackt@bbfl.us 561-600-9094 1298 FIVE YEARS APPRAISALS IN BOYNTON BEACH COMMUNITY REDEVELOPMENT AREA FOR THE CITY OF BOYNTON BEACH, FLORIDA PAGE 1 DATE VANCE APPRAISAL NO.LOCATION PROPERTY TYPE 03/2024 18742 1017 N. Railroad Avenue Vacant Commercial 03/2024 18741 524 NW 3 Street R-1-A Vacant Lot 02/2024 18739 625 S. Federal Highway Business Vacant (Old House on Site) 02/2024 18738 225 NE 9 Avenue Vacant Residential Lot 12/2023 18735 1111 S. Federal Highway Vacant Commercial Land 08/2023 18731 703 S. Federal Highway Vacant Comercial Land 02/2023 18715 2191 Seacrest Boulevard Eminent Domain Case 02/2023 18714 411 NE 2 Street Duplex (Poor Condition) 12/2022 18711 334 NE 11 Avenue Single Family Residence 12/2022 18710 513 NE 2 Street Duplex 12/2022 18709 505-511 NE 2 Street 2 Duplexes 10/2022 18706 222 N. Federal Highway Vacant Land 09/2022 18692 310 NW 2 Street Vacant Residential Lot 04/2022 18683 321 E. MLK Boulevard Single Family Residence 03/2022 18680 BBCRA Cottage District 14 Properties 03/2022 18678 217 NE 3 Street Autobody & Store Properties 12/2021 18671 211 E. Ocean Avenue Old Home = vacant R-3 Land 12/2021 18670 112-216 NE 1 Avenue 10 Old Condos = Vacant R-3 Land 07/2021 18650 413 E. Boynton Bch. Blvd.Lease Val. & Improved Commercial 07/2021 18649 409 NE 1st Street Vacant Land 06/2021 18646 115 NE 4th Avenue Single Family Residence III 06/2021 18644 NW 12 Avenue 31 Vacant Lots 06/2021 18641 133 NE 4 Avenue Single Family Residence 04/2021 18634 327 & 329 NE 10 Avenue 2 Vacant Lots (Lots 12 & 13) 04/2021 18633 335 NE 10 Avenue Residential Vacant Lot 11 03/2021 18627 234 NE 11 Avenue 1/2 Vacant Lot 03/2021 18626 221 NE 9 Avenue 2 Vacant Lots 12/2020 18616 1102 N. Federal Highway Vacant Commercial Land 11/2020 18614 514 NW 11 Avenue Vacant R-2 Zoned Lot 11/2020 18613 205 NE 9 Avenue Duplex 09/2020 18607 508 E. Boynton Beach Blvd.Office 08/2020 18602 Cottage Dist. NE 4 & 5 Ave 14 properties 07/2020 18599 407 NE 1 Street House & 2 Sty Bldg in Rear 07/2020 18598 109 NW 1st Avenue Single Family Residence 07/2020 18597 1110 N. Federal Highway Vacant Commercial Lot 07/2020 18595 401-411 E. Boynton Bch Bl Land with Old Building 1299 FIVE YEARS APPRAISALS IN BOYNTON BEACH COMMUNITY REDEVELOPMENT AREA FOR THE CITY OF BOYNTON BEACH, FLORIDA PAGE 2 DATE VANCE APPRAISAL NO.LOCATION PROPERTY TYPE 03/2020 18585 445 N. Federal Highway Vacant Lot 12/2019 18568 115 N. Federal Highway Vacant Comm = Pierce 07/2019 18546 100 E. MLK Boulevard Family Dollar Store 07/2019 18544 1001 N. Railroad Avenue "B-3" Vacant Lot 07/2019 18541 207 E. MLK Avenue Vacant Lot 06/2019 18536 145 NE 4th Avenue Care Center 06/2019 18535 421 SE 4th Street Old house - Vacant Land 06/2019 18534 419 SE 4th Street Old house - Vacant Land 03/2019 18519 1101 N. Federal Highway Vacant Commercial Land 01/2019 18514 1005 N. Seacrest Blvd.Convenience Store 01/2019 18513 111 E. MLK Boulevard Vacant land (Old Church no Value) 01/2019 18512 109 E. MLK Boulevard Vacant Lot 01/2019 18511 100 SW SW 9 Street 3.62 Vacant Acres 01/2019 18510 SW 24 Avenue Vacant Lot 01/2019 18509 2240 S. Congress Avenue Old Fire Station 1300 ADDITIONAL APPRAISALS IN BOYNTON BEACH COMMUNITY REDEVELOPMENT AREA FOR THE CITY OF BOYNTON BEACH, FLORIDA PAGE 3 DATE VANCE APPRAISAL NO.LOCATION PROPERTY TYPE 09/2018 18501 East MLK Blvd.27 Vacant Residential Parcels 09/2018 18499 124 NE 11 Avenue One Vacant Residential Lot 09/2018 18497 221 NE 9th Avenue Single Family Res. Plus One Lot 09/2018 18495 1003 NE 3 Street Vacant Land 07/2018 18487 1004 NE 3 Street Vacant Residential Lot 154 07/2018 18486 1002 NE 3 Street Vacant Residential Lot 155 07/2018 18485 1000 NE 3 Street Vacant Residential Lot 156 07/2018 18484 145 NE 4 Avenue Care Center 03/2018 18464 NE 11 Avenue - Lot 7 Lot nearest NE 11 Avenue 03/2018 18463 211 NE 9 Avenue - Lot 6 Vacant Lot 03/2018 18462 NE 9 Avenue - Lot 4 Vacant Lot 03/2018 18461 NE 9 Avenue - Lot 3 Vacant Lot 03/2018 18460 NE 9 Avenue - Lot 2 Vacant Lot 03/2018 18459 NE 9 Avenue - Lot 1 Residential Lot 03/2018 18457 126-132 E MLK Blvd.Bell Store Commercial 03/2018 18454 115 N. Federal Hwy.Church - Vacant 02/2018 18452 521 N. Federal Hwy.Corner property - Done as Land 02/2018 18450 1102 N. Federal Hwy.Corner Property - Vacant 02/2018 18448 201 NE 9 Avenue Duplex 12/2017 18440 220 & 224 E. MLK Blvd 12 Units - Multifamily 12/2017 18439 110 NW 6 Avenue Residential Vacant Lot 11/2017 18435 508 NW 12 Avenue Single Family Residence 09/2017 18426 230 W. MLK Blvd Vacant Lot 13 06/2017 18414 NE 3 Street Vacant Lot 155 06/2017 18413 NE 3 Street Vacant Lot 154 06/2017 18407 115 NE 4 Avenue Single Family Residence 05/2017 18404 117 NE 5 Avenue Single Family Residence 03/2017 18400 1003 NE 3 Street Vacant Residential 03/2017 18399 NE 2 Street 9 Duplexes 03/2017 18396 340 NE 10 Avenue Vacant Residential 03/2017 18394 902 N. Federal Highway Commercial 03/2017 18393 611 NE 10th Avenue Multi-Family Residential 03/2017 18392 1102 N. Federal Hwy.Commercial 02/2017 18390 401 E. Ocean Avenue Unit 2 - Condo 02/2017 18389 401 E. Ocean Avenue Unit 1 - Condo 1301 ADDITIONAL APPRAISALS IN BOYNTON BEACH COMMUNITY REDEVELOPMENT AREA FOR THE CITY OF BOYNTON BEACH, FLORIDA PAGE 4 DATE VANCE APPRAISAL NO.LOCATION PROPERTY TYPE 01/2017 18375 1000 NE 3 Street Vacant Residential 01/2017 18374 398 E. MLK Boulevard Vacant Residential 01/2017 18373 235 NE 9 Avenue Vacant Residential 01/2017 18372 231 NE 9 Avenue Vacant Residential 10/2016 18365 132 NW 11 Avenue Vacant Residential Remainder 10/2016 18364 128 NW 11 Avenue Vacant Residential Remainder 10/2016 18362 416 E. MLK Boulevard Church 10/2016 18360 128 NE 11 Avenue Single Family Residential 07/2015 18296 Model Block MLK & NW 11 Ave 11 Residential properties 1302 TAB 3 References 1303 REFERENCES Samuel S. Goren, Esquire 3099 East Commercial Boulevard, Suite 200 Fort Lauderdale, FL 33308 954-771-4500 x5022 sgoren@gorencherof.com Jefferson Weaver, Esquire 1700 University Drive, Suite 305 Coral Springs, FL 33071 954-707-1694 weaverlawfirm@gmail.com Mr. Joseph Siska, Chief Financial Officer Port Consolidated 1000 S Pine Island Rd Suite 180 Plantation, FL 33324 954-377-1010 jsiska@portconsolidated.com 1304 TAB 4 Cost of Services 1305 Cost of Services Attachment “A” lists the fees for the valuation of various property types. Our appraisals are in a narrative format, not forms. There are no additional fees or reimbursable expense. Vance Real Estate Service gives the Boynton Beach Community Redevelopment Agency a placement guarantee of the highest priority in its work schedule. Once engaged for an assignment, the appraisers immediately commence working and arrange a time to view the property. Typically, delivery time for an appraisal is two weeks after being engaged for the assignment. Time maybe longer if multiple properties are involved. Responsiveness for information requested of the property owner can affect delivery time. Vance Real Estate Service strives to deliver the reports in a timely manner to be included in Agenda items for the Boynton Beach Community Agency Board meetings. 1306 1307 TAB 5 Proof of Licensing 1308 State of Florida Department of State I certify from the records of this office that VANCE REAL ESTATE SERVICE, INC. is a corporation organized under the laws of the State of Florida, filed on September 3, 1985, effective August 28, 1985. The document number of this corporation is H73987. I further certify that said corporation has paid all fees due this office through December 31, 2023, that its most recent annual report/uniform business report was filed on April 21, 2023, and that its status is active. I further certify that said corporation has not filed Articles of Dissolution. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the Twenty-third day of March, 2024 Tracking Number: 0959863627CU To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 1309 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONDIVISION OF REAL ESTATETHE CORPORATION HEREIN HAS REGISTERED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESVANCE REAL ESTATE SERVICE INCDo not alter this document in any form.7481 NW 4TH STREETLICENSE NUMBER: CQ241352EXPIRATION DATE: SEPTEMBER 30, 2025This is your license. It is unlawful for anyone other than the licensee to use this document.PLANTATION FL 33317Always verify licenses online at MyFloridaLicense.com1310 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESVANCE, JESSE B JRDo not alter this document in any form.7421 NW 4TH STREETLICENSE NUMBER: RZ85EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.PLANTATION FL 33317Always verify licenses online at MyFloridaLicense.com1311 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESVANCE, CLAUDIA SALADINODo not alter this document in any form.7421 NW 4TH STREETLICENSE NUMBER: RZ173EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.PLANTATION FL 33317Always verify licenses online at MyFloridaLicense.com1312 TAB 6 Proof of Insurances 1313 DATE (MM/DD/YYYY)CERTIFICATE OF LIABILITY INSURANCE THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). CONTACTPRODUCERNAME: FAXPHONE(A/C, No):(A/C, No, Ext): E-MAILADDRESS: INSURER(S) AFFORDING COVERAGE NAIC # INSURER A : INSURED INSURER B : INSURER C : INSURER D : INSURER E : INSURER F : COVERAGES CERTIFICATE NUMBER:REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. ADDL SUBRINSR POLICY EFF POLICY EXPTYPE OF INSURANCE LIMITSPOLICY NUMBERLTR (MM/DD/YYYY) (MM/DD/YYYY)INSD WVD COMMERCIAL GENERAL LIABILITY EACH OCCURRENCE $ DAMAGE TO RENTEDCLAIMS-MADE OCCUR $PREMISES (Ea occurrence) MED EXP (Any one person) $ PERSONAL & ADV INJURY $ GEN'L AGGREGATE LIMIT APPLIES PER:GENERAL AGGREGATE $ PRO-POLICY LOC PRODUCTS - COMP/OP AGG $JECT $OTHER: COMBINED SINGLE LIMITAUTOMOBILE LIABILITY $(Ea accident) BODILY INJURY (Per person) $ANY AUTO ALL OWNED SCHEDULED BODILY INJURY (Per accident) $AUTOS AUTOSNON-OWNED PROPERTY DAMAGE $HIRED AUTOS (Per accident)AUTOS $ UMBRELLA LIAB EACH OCCURRENCE $OCCUR EXCESS LIAB CLAIMS-MADE AGGREGATE $ $DED RETENTION $ PER OTH-WORKERS COMPENSATION STATUTE ERAND EMPLOYERS' LIABILITY Y / NANY PROPRIETOR/PARTNER/EXECUTIVE E.L. EACH ACCIDENT $N / AOFFICER/MEMBER EXCLUDED? (Mandatory in NH)E.L. DISEASE - EA EMPLOYEE $ If yes, describe under E.L. DISEASE - POLICY LIMIT $DESCRIPTION OF OPERATIONS below DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF,NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. AUTHORIZED REPRESENTATIVE © 1988-2014 ACORD CORPORATION. All rights reserved. The ACORD name and logo are registered marks of ACORDACORD 25 (2014/01) Debbie Cannon VANCE-1 OP ID: JOE 03/25/2024 Debbie CannonRoyal Insurance Agency, Inc. 1425 S. Andrews Ave-Suite 175 Fort Lauderdale, FL 33316-1803 Debbie Cannon 954-764-1414 954-522-3882 debbie@royalinsagency.com United States Liability Ins Co Vance Real Estate Service, Inc Claudia Vance 7481 N.W. 4th Street Plantation, FL 33317 AX 1,000,000 X XXGL2002404C 02/07/2024 02/07/2025 100,000 5,000 Excluded 2,000,000 X Excuded BOYBEAR Boyton Beach Community Redevelopement Agency City of Boyton Beach Florida 100 East Ocean Avenue Boyton Beach, FL 33435 1314 Accelerant National Insurance Company (A Stock Company) 400 Northridge Road, Suite 800 Sandy Springs, GA 30350 REAL ESTATE PROFESSIONAL ERRORS AND OMISSIONS INSURANCE POLICY DECLARATIONS NOTICE: THIS IS A “CLAIMS MADE AND REPORTED” POLICY. THIS POLICY REQUIRES THAT A CLAIM BE MADE AGAINST THE INSURED DURING THE POLICY PERIOD AND REPORTED TO THE INSURER, IN WRITING, DURING THE POLICY PERIOD OR EXTENDED REPORTING PERIOD. DEFENSE COSTS WITHIN LIMITS THIS POLICY CONTAINS PROVISIONS WHICH LIMIT THE AMOUNT OF CLAIM EXPENSES THE INSURER IS RESPONSIBLE TO PAY IN CONNECTION WITH CLAIMS. CLAIM EXPENSES SHALL BE SUBJECT TO ANY DEDUCTIBLE AMOUNT. THE PAYMENT OF CLAIM EXPENSES WILL REDUCE THE LIMITS OF LIABILITY STATED IN ITEM 4. OF THE DECLARATIONS. PLEASE READ YOUR POLICY CAREFULLY. Policy Number: NRE40PL101329-00 Renewal of: New 1. Named Insured: Vance Real Estate Service 2. Address: 7481 NW 4 Street Plantation , FL 33317 3. Policy Period: From: February 5, 2024 To: February 5, 2025 12:01 A.M. Standard Time at the address of the Named Insured as stated in item 2. Above. 4. Limit of Liability: A. Each Claim Limit of Liability $ 1,000,000 B. Policy Aggregate Limit of Liability $ 1,000,000 5. Deductible: $ 2,500 Each Claim 6. Policy Premium: $ 790 State Taxes/Surcharges: $ 7.9 7. Retroactive Date: Full Prior Acts 8. Notice to Company: Notice of a Claim or Potential Claim should be sent to: OREP Insurance Services: info@orep.org 6353 El Cajon Blvd, Suite 124-605 San Diego, CA 92115 9. Program Administrator: OREP Insurance Services, LLC – info@orep.org 10. Forms and Endorsements Attached at Policy Inception: See Schedule of Forms If required by state law, this policy will be countersigned by an authorized representative of the Company. Date: January 25, 2024 By: Authorized Representative N DEC 40002 04 22 Page 1 of 1 1315 TAB 7 PowerPoint presentation Attachments “A” – “H” 1316 REQUESTS FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY CITY OF BOYNTON BEACH, FLORIDA ISSUE DATE: March 1, 2024 PROPOSER VANCE REAL ESTATE SERVICE 7481 NORTHWEST 4 STREET PLANTATION, FL 33317 954·583·2116 (o) 954·647·7148 (m) Email: vanceval@att.net Web Site: www.vancerealestateservice.com 1317 VANCE REAL ESTATE SERVICE Incorporated in September 1985 39 years of experience in South Florida Veteran-Owned Small Business (VOSB) Florida Certified SDVBE Minority Business Specializing in personalized real estate valuation services Designated appraisers perform the appraisal work, no trainees Appraisals used for: •Property acquisition and disposition •Financial/ mortgage loan purposes •Redevelopment projects •Actions in Eminent Domain 1318 Jesse B. Vance, Jr., MAI, SRA, ASA, MBA - Qualifications MAI DESIGNATION - APPRAISAL INSTITUTE SRA DESIGNATION -APPRAISAL INSTITUTE ASA DESIGNATION - AMERICAN SOCIETY OF APPRAISERS (RE-Urban) STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ-85 (Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO. BK. 91050 BACHELOR OF ARTS - Earlham College, Richmond, Indiana MBA (Nova University) - Real Estate Management & Development QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S. Court and Florida Circuit Courts 59 years of valuation experience in residential & non-residential properties 1319 Claudia Vance, MAI - Qualifications MAI DESIGNATION - APPRAISAL INSTITUTE STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ-173 (Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO. BK. 0161305 BACHELOR OF ARTS - University of New Orleans, New Orleans, LA – Major: English Education QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION Florida Circuit Courts PROFESSIONALDEVELOPMENT PROGRAM REGISTRIES Valuation of Sustainable Buildings: Commercial Valuation of Sustainable Buildings: Residential 45 years of valuation experience in residential & non-residential properties 1320 PARTIAL LIST OF CLIENTS FLORIDA COUNTIES and AGENCIES: Boynton Beach Community Redevelopment Agency Broward County Housing Authority Fort Lauderdale Community Redevelopment Agency Broward County Board of County Commissioners and School Board of Broward County FLORIDA CITIES: Boynton Beach, West Palm Beach, Delray Beach, Boca Raton Fort Lauderdale, Plantation, Cooper City, Deerfield Beach, Tamarac, Oakland Park, Wilton Manors, North Lauderdale, Davie, Pembroke Pines, Hallandale Beach, Lauderhill, Southwest Ranches, Miramar STATE OFFLORIDA Department of Transportation (FDOT) Department of Environmental Protection U.S. Department of VeteransAffairs U.S. Department of Treasury (IRS) U.S Marshall’s Service U.S.Attorney 1321 VALUATION SERVICES COMPLETED FOR BOYNTON BEACH CRA Vance Real Estate Service has worked with the CRA for 9 years Valued 180 properties in the CRA Property types valued: •Single-user residences •Multi-user residences •Stores •Offices •Places of worship •Vacant residential •Vacant non-residential Intended uses: •Acquisition •Disposition •Lease Valuation •Action in Eminent Domain 1322 EXAMPLES OF VALUATIONS IN THE CRA Model Block Program on W Martin Luther King, Jr. Blvd. Properties on E Martin Luther King, Jr. Blvd for Heart of Boynton Villages & Shops Properties on Federal Highway including Ocean One 115 N Federal Highway for the Pierce Land for new US Post Office on Boynton Beach Blvd Cottage District lots and houses Palm Beach County Housing Authority lots Dollar Tree store 1323 CONCLUSION Vance Real Estate Service knows the Boynton Beach Community Redevelopment Area Vance understands the objectives of the Boynton Beach Community Redevelopment Agency Vance prepared 180 appraisals in the CRA for the Agency to make informed real estate decisions Appraisal fees are competitive Delivery time meets the needs of the BBCRA Looking forward to continuing to supply appraisal services to BBCRA 1324 1325 1326 1327 1328 1329 1330 1331 1332 RESPONSE TO THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY REQUEST FOR PROPOSALS FOR PROPERTY APPRAISAL SERVICES DATED MARCH 1, 2024 Submitted By: Walter B. Duke, III, MAI, CCIM 2860 W. State Road 84, Suite 109 Fort Lauderdale, Florida 33312 walterduke.com 1333 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 March 31, 2024 Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, BBCRA Development Services Manager 100 East Ocean Avenue, 4th Floor Boynton Beach, Florida 33435 RE: Request for Proposals (RFP) for Property Appraisal Services Thank you for the opportunity to assist the Boynton Beach Community Redevelopment Agency (BBCRA) with this important matter. The BBCRA’s objectives as it relates to the acquisition and disposal of properties within its boundaries is outlined in the Community Redevelopment Plan. Working with public and private entities to better understand the relevant financial aspects of their large-scale real estate development and re-development initiatives is a core part of our commercial real estate valuation, advisory, and consulting practice. Founded in 1975 in Fort Lauderdale, Walter Duke + Partners has operated continuously for nearly 50 years in the Florida market. With offices in Fort Lauderdale and Tampa, Walter Duke + Partners has completed over 75,000 assignments with a market cap of over $900 billion. Walter Duke, MAI, CCIM, and Lisa Duke co-own the firm and are supported by eight full-time, high-level professionals with over 175 years of collective experience. All are state-certified and licensed and hold additional professional designations in many instances. The firm has completed nearly 1,100 commercial real estate assignments in Palm Beach County including 74 assignments completed in the City of Boynton Beach of which 7 are located within the boundaries of the CRA. (shown on the cover page) Walter Duke + Partners is well suited to undertake and complete the requirements of the RFP. This is a complex matter requiring multiple team members to perform the necessary research, analysis, and production of credible and supportable appraisals and studies and follow up as needed with presentation to the board and staff. Key team members who will be directly involved include Walter Duke, MAI, CCIM, Andrew S. Rolf, MAI, Ingrid Thomas, and Lisa Duke, and production members. 1334 Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, BBCRA Development Services Manager March 31, 2024 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 Firm President Walter Duke, MAI, CCIM is also a former Mayor of Dania Beach and also chaired the City’s Community Redevelopment Agency board. Under his leadership, the city experienced tremendous growth and redevelopment and all while being a TIF-less CRA. After retirement from public service in 2017 Mr. Duke continues to give back. Walter Duke + Partners regularly assists municipal and quasi-governmental clients to better understand and vet development proposals and public-private partnerships. Services range from valuing exchange parcels to vetting development proposals for feasibility and compliance with client requirements. A summary of our municipal and government clients includes the following • Broward County • Broward County Housing Authority • City of Boca Raton • City of Coconut Creek • City of Coral Springs • City of Coral Gables • City of Fernandina Beach • City of Fort Lauderdale • City of Hallandale Beach • City of Hialeah • City of Hollywood • City of Homestead • City of Oakland Park • City of Miami Beach • City of Miramar • City of West Palm Beach • City of Sunny Isles Beach • City of Sunrise • City of West Palm Beach • City of Wilton Manors • Fort Lauderdale DDA • Hillsborough County • Lee County • Miami Parking Authority • Miami-Dade Housing Authority • Monroe County • Palm Beach Housing Authority • Port of Palm Beach • Port of Tampa • Sarasota Manatee Airport Authority • School Board of Broward County • Town of Miami Lakes • Town of Southwest Ranches • United States Department of Justice • United States Postal Service In addition to our government client roster, we also provide similar services to a broad array of non-profit organizations that rely on Walter Duke + Partners to help them make good financial decisions. A partial list of our institutional/non-profit clients are below: • Aids Healthcare Foundation • American Maritime Officers (AMO) • Archdioceses of Miami • Bonnet House Museum & Gardens • Boys & Girls Club of Broward County • Broward Health • Broward Regional Planning Council • Community Land Trust • CSC of Broward County • Dan Marino Foundation • First Housing Corporation • Florida Inland Navigation District • Habitat for Humanity of Broward County • Holy Cross /Trinity Health • Las Olas Chabad Jewish Center • Memorial Healthcare Systems 1335 Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, BBCRA Development Services Manager March 31, 2024 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 • Norton Museum • Nova Southeastern University • Salvation Army • South Broward Hospital District • Urban League of Broward County • Volunteers of America • Watchtower Bible and Tract Society • Lighthouse for the Blind Walter Duke + Partners also regularly provides economic impact studies for private and municipal clients, including the City of Fort Lauderdale and the Fort Lauderdale Downtown Development Authority. Walter Duke + Partners is regularly asked to update studies, provide supplemental analysis, and consult on an on-going basis with the planning and economic development teams for municipal and quasi-governmental clients. In one recent assignment, Walter Duke assisted the Planning and Zoning Department of West Palm Beach with determining the relative feasibility of three development applicants for a 3P and reported his findings in a public forum to the Board of Commissioners. As follow-up Mr. Duke was asked to prepare a feasibility gap analysis to help the city better understand the need for subsidy to support a proposed 270-unit mid-rise multi- family development. Mr. Duke also recently provided valuation advisory and presented to the City of Fernandina Beach CRA in connection with their waterfront revitalization plan. For the deliverables, Walter Duke + Partners will provide our findings in a clear, concise, written report. We produce approximately 1,500 such reports a year, and in many cases, Mr. Duke presents the findings to a client or board. In some instances, Mr. Duke will provide a presentation to an elected body or board. Our BBCRA Team In addition to Mr. Duke and our support staff, the primary team members for this matter include Andrew Rolf, MAI, Ingrid Thomas, and Lisa Duke. 1336 Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, BBCRA Development Services Manager March 31, 2024 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 Andrew Rolf, MAI, joined Walter Duke + Partners in 2003 after graduating with a BS in Real Estate and Finance from Florida State University. In 2010, Andrew also obtained his MBA from FAU. Since joining the team in 2003, Andrew has conducted complex appraisals and market studies in many asset classes including, retail, office, industrial, healthcare, and hospitality as well as over 60 existing and proposed market rate and affordable/workforce multi-family projects comprising over 10,000 units located across the State of Florida. Andrew has particular expertise in the valuation and analysis of large-scale complex projects. He also regularly conducts and oversees economic impact studies and a variety of other market demand projects for government and private clients. Andrew, an Eagle Scout and former high school wrestler, resides in Plantation, Florida with his family. Ingrid Thomas joined the firm in 2020 after a successful career as an investment analyst with Northmarq Capital, a national mortgage banking and financial firm. Ingrid received her master’s degree from FAU with a degree in business administration and her law degree from Nova Southeastern University. Her legal specialty is real estate law, including residential, commercial and landlord- tenant; title examination; title insurance and closings; review and preparation of legal documentation, deeds, leases, contracts, and other legal documents. Ingrid specializes in supporting and assisting with complex valuation and consulting assignments. She undertakes community outreach and is responsible for managing the extensive proprietary data system at Walter Duke + Partners and much of the written content in studies completed by the firm. Ingrid is married and lives in Hollywood. She is a Southeast Regional Dragon Boat Association member and a competitive racer with Blazing Paddles in Broward County. 1337 Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, BBCRA Development Services Manager March 31, 2024 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 Lisa Duke is a co-owner of the firm and its CFO and Chief Strategist. A commercial real estate paralegal and license real estate broker Lisa adds significant value to the firm by overseeing all daily business activities and accommodating mid-range planning and long-term visioning of the legacy commercial real estate valuation advisory firm based in Fort Lauderdale and founded in 1975. A Florida native, Lisa is currently a member of The Circle of Wise Women, Junior Achievement, The Fort Lauderdale Women's Club, The Historic Stranahan House & Museum, Marine Industries Association of South Florida, Friends of Birch State Park, and the Rio Vista Civic Association. Lisa recently served on the Executive Board of the Port Everglades Association. She chaired the PEA's widely acclaimed Economic Engine Performance Report Luncheon event, which attracts over 600 power leaders annually and is the largest single fundraiser for the association. Lisa serves on the board of the Heart Gallery of Broward County, which mission is to provide innovative programs that help to promote the adoption and enrichment of Broward's hardest-to- place foster children. Lisa serves as Secretary and on the Executive Board of Winterfest, a multi- million-dollar economic generator to South Florida. Lisa was honored with her husband Walter, the former Mayor of Dania Beach, as a couple of Style and Substance by the Symphony of Americas. Gold Coast Magazine Fort Lauderdale also named them a Power Couple. In 2017, Lisa was honored by the South Florida Business Journal as an Influential Businesswoman. Lisa also participated in the SFBJ CFO Roundtable, where she provided insights about enhancing the operations of a mid-sized professional services firm. Walter Duke, MAI, CCIM is the President of Walter Duke + Partners, a comprehensive commercial real estate valuation and advisory company that provides critical analysis, information, and studies to corporate, government, non-profit, and private clients nationwide with commercial real estate interests in the Florida market. In addition to managing his Fort Lauderdale-based commercial appraisal practice, Mr. Duke is a frequent panelist, presenter, and lecturer on topics relating to commercial real estate valuation and trends. He is also in great demand for expert witness testimony for purposes of litigation support, property tax representation and mediates commercial real estate disputes. He also regularly provides assistance to land-use counsel and municipal clients in support of public/private partnerships. Mr. Duke has appraised and analyzed a wide variety of significant and complex commercial property types and provided critical consultation and litigation services to a diversified range of clients. Specialty practice areas of the firm include affordable and workforce housing assets, marinas and boatyards, and charter schools/religious facilities. The firm also regularly performs market demand, feasibility, and economic complex impact studies. Mr. Duke believes giving back to the community is important and that we all serve a greater purpose. He and his wife Lisa, happily donate considerable time and resources to numerous non- profit, charitable and civic organizations. The Marine Industries Association of South Florida has awarded him the prestigious Golden Anchor Award. He has also been named a Volunteer of Distinction by The Appraisal Institute. Mr. Duke has served on or Chaired a number of boards 1338 Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, BBCRA Development Services Manager March 31, 2024 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 including the Marine Industries Association of South Florida, and the Broward County Metropolitan Planning Council. As mentioned previously, Mr. Duke is also the former Mayor of Dania Beach, Chairman of the Dania Beach Community Redevelopment Agency, and former President of the South Florida Chapter of the Appraisal Institute. He currently serves on the Board of Directors of the Broward Workshop and chairs the Affordable Housing Sub-Committee, the Executives Association of Fort Lauderdale, Co-Chairs the Affordable Housing Pillar of the Prosperity Partnership of the Greater Fort Lauderdale Alliance and serves on the Broward-Fort Lauderdale CCIM Board of Directors. He recently was given the Chairman’s Award by the Broward Workshop in appreciation for his vision, expertise and leadership on key Housing Affordability Initiatives that have positively impacted his community. His efforts have resulted in $123 million in gap financing for affordable housing in Broward County over the past three years producing nearly 2,700 affordable housing units and the adoption of the Broward County 10-Year Affordable Housing Plan (link). The plan is the first of its kind in Florida and calls for $1.8 billion in funding under the next 30 years. Mr. Duke and his wife Lisa reside in the historic Rio Vista neighborhood in downtown Fort Lauderdale and together they have three grown children, a new granddaughter named Bella, and a blind rescue Shiba Inu named Kaze. For more information we invite you to visit www.walterduke.com or also view Mr. Duke’s LinkedIn profile at https://www.linkedin.com/in/walterduke/. We look forward to assisting The Boynton Beach Community Redevelopment Agency with this ambitious and important matter. Respectfully submitted, Walter B. Duke, III, MAI, CCIM President / CEO 1339 Tab 2 1340 COMMERCIAL REAL ESTATE APPRAISAL REPORTS COMPLETED WITHIN THE BBCRA 1341 COMMERCIAL REAL ESTATE APPRAISAL REPORTS COMPLETED WITHIN THE BBCRA 1342 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF WALTER B. DUKE, III, MAI, CCIM EDUCATION University of Florida, Gainesville, Florida Major in Real Estate B.S. Degree in Business Administration Appraisal Institute, American Institute of Real Estate Appraisers and Society of Real Estate Appraisers core course, electives, seminars and comprehensive examination. APPRAISAL / REAL ESTATE EXPERIENCE 1992 – Present President & CEO, Walter Duke + Partners, Inc. 1988 – 1992 Senior Appraiser, Clobus Valuation Co., Inc. 1985 – 1987 Staff Appraiser, Clobus Valuation Co., Inc. 1983 – 1984 Broker-Salesperson, Carmel Bay Realty Appraisal assignments include the valuation and/or evaluation of a wide variety of commercial, residential and industrial properties in Florida prepared for banks, savings and loans, savings bank, insurance companies, estates, governmental agencies, REIT’s, mortgage bankers, attorneys and individual investors. Property types include, but are not limited to, proposed and existing office buildings, commercial condominiums, warehouse and industrial properties, shopping centers and retail development, market and tax credit apartments, acreage tracts, commercial/industrial land and special purpose properties including marinas, boatyards, religious and/or educational facilities, fixed base operations (FBO). Qualified Real Estate Valuation Expert Witness: U.S. Bankruptcy Court, Southern District of Florida 17th Judicial Circuit Court, Broward County PROFESSIONAL AND BUSINESS AFFILIATIONS MAI, Member, Appraisal Institute, No. 8584 CCIM, Certified Commercial Investment Member No. 7130 Registered Real Estate Broker-Salesperson – State of Florida, No. 0398146 Certified General Appraiser – State of Florida, No. RZ375 Former Member, Review and Counseling Division – Region X South Florida-Caribbean Chapter of Appraisal Institute: President 2000, 2nd Vice President 1999, Secretary 1998, Treasurer 1997 Regional Representative: Region X Leadership Fort Lauderdale – Class IV, 1998 Appraisal Institute, Leadership Advisory Council, 1997 Member, Realtor’s Commercial Alliance Former Member, Appraisal Journal Editorial Review Board Member, Commercial Realtors of Greater Fort Lauderdale Member, Executives’ Association of Fort Lauderdale 1343 QUALIFICATIONS OF WALTER B. DUKE, III, MAI, CCIM Page 2 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 Member, Marine Industries Association of South Florida (MIASF) Director, Marine Industries Association of South Florida (2014-2020) Director, CCIM Fort Lauderdale/Broward District (2018 – Current) Director, Broward Workshop Chairman, Affordable Housing Sub-Committee, Broward Workshop Co-Chair, Affordable Housing Pillar, Prosperity Partnership/GFLA CIVIC AND CHARITABLE ACTIVITIES Mayor, City of Dania Beach, 2012 - 2014 City Commissioner, City of Dania Beach, 2009 – 2011, 2015-2016 Chairman, Dania Beach Community Redevelopment Agency 2012 - 2014 Member, Broward Metropolitan Planning Organization 2012 - 2016 Leadership Fort Lauderdale – Class IV, 1998 AWARDS AND RECOGNITION Appraisal Institute – Recipient of the Volunteer of Distinction Award Jubilee Center of South Broward – Recipient of the Compassion Award Golden Anchor Award Recipient - Highest honor bestowed by the Marine Industries of South Florida, (MIASF) Dania Beach Lions Club - Recipient of the Nicholas James Costello Award for service to the community Gold Coast Magazine Fort Lauderdale - named as a 2016 Power Couple along with wife Lisa Symphony of the Americas, honored along with wife Lisa as a couple of “Style and Substance” South Florida Business Journal – One of five notable figures who are “Making Waves in the Marine Industry” RECENT SPEAKING ENGAGEMENTS Keynote - Commercial Real Estate Trends” - Berger Commercial Realty Lunch N Learn Series Keynote - Florida Commercial Real Estate Market” - South Florida Loan Committee Keynote - Market Update – South Florida Commercial Real Estate” American Society of Appraisers (ASA) Keynote - Commercial Real Estate Overview - Broward Council of the Miami Association of Realtors Panelist - Market Perspectives on Valuation, National Association of Office and Industrial Properties (NAIOP) Speaker - South Florida Commercial Real Estate Financing and Valuation” South Florida CCIM Chapter Panelist - MIASF Better Business Series” – Marine Industries of South Florida (MIASF) Speaker - 2040 Regional Transportation Plan Rollout - Southeast Florida Transportation Council Keynote - Global Real Estate Trends Applicable to Fort Lauderdale – Fort Lauderdale Historical Society Speaker – Broward County Economy - Executives Association of Fort Lauderdale 59th Annual Economic Outlook Speaker – Broward County Economy - Executives Association of Fort Lauderdale 60th Annual Economic Outlook Keynote – Covid Impacts on CRE: American Society of Appraisers Speaker – Broward County 2021 Economic Forecast: Broward-Fort Lauderdale CCIM Chapter Moderator – South Florida Property Appraiser Panel American Institute of Real Estate Appraisers Moderator - Developer Panel – Realtors Commercial Alliance Panelist – Covid Impacts on Commercial Real Estate – Miami Association of Realtors Moderator – South Florida Capital Markets – Broward Fort Lauderdale CCIM Chapter Panelist – Safety, Opportunity & Sustainability Marine Industry – Downtown Council FTL Chamber of Commerce Presenter – Marina Industries Association of South Florida Leadership – Anchor Members Moderator – Gold Coast Commercial Real Estate Outlook – Realtors Commercial Alliance Moderator – 2022 Commercial Real Estate Outlook Conference – Developer Panel – CCIM Broward/Fort Lauderdale Speaker - Dollars and Sense of Affordable Housing – Broward Housing Council Moderator – Housing Council – Housing Affordability Summit Speaker – Broward Workshop State of the County Speaker – Broward County Economy - Executives Association of Fort Lauderdale 60th Annual Economic Outlook 1344 QUALIFICATIONS OF WALTER B. DUKE, III, MAI, CCIM Page 3 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 RECENT PUBLISHED ARTICLES AND INDUSTRY CONTENT Author - Top 5 Misconceptions About Commercial Real Estate Appraisals Author – Dredging of the Dania Cut Off Canal Spurs Economic Growth Author – What Type of Commercial Lease is Best for You? Author – How Walkable Communities Increase Property Values Author – Selling Your Marina? 5 Key Factors to Consider Author – Millennials Finally Leaving the Nest – Fort Lauderdale Rental Market Booming Author – The Importance of LIHTC Market Feasibility Studies Author – When is the right time to sell a marina?” – Boating Industry Magazine – August 13, 2015 Author – Business is Booming at Walter Duke + Partners Author – Top 10 Takeaways from this year’s ICSC Conference Co-Author – Big Profits/Low Risk: 7 Bank Lease Deal Trends Author – Top 5 Misperceptions About Commercial Real Estate Appraisals Author – All you need to know about Florida Charter Schools Author – Top 4 Reasons Why Baby Boomers Still Own the Share of US Small Businesses Author – Three Reasons to be Happy in Your Upside Down Condo! Author – Three Troubling Trends in the South Florida Condo Market” Author – Free Beer Included in Your Office Space? Guest Columnist/South Florida Business Journal – Ask these questions before running for office, 2015 Author – Low Income Housing Tax Credit: A Government Program That Works Contributor - Time to Sell Your Marina? – Trade Only Today Magazine – December, 2015 Issue Author – Boom Interrupted: Six Signs Commercial Real Estate Could Be Peaking Author – Thinking Outside the Box to Create Value in Church Property Author – From the Desk of Duke: SHIP and SAIL Big Winners! Columnist /MIASF Fort Lauderdale must be vigilant to maintain its title as Yachting Capital of the World Author - Is the Condo Market Keeping You Up at Night? Author - Top 3 Reasons For An Improved Housing Market Sea Level Rise: Does the Business Community Care? Author – The American Dream Interrupted: 3 Ways Government Can Help Author – Nine Noteworthy Trends You Should Know Author – Its Gut Check Time in the Miami Condo Market Author – Six Headwinds That Could Derail Florida Commercial Real Estate and the Trump Economy Author – Opportunity is Knocking! Are you Ready? Author – Florida has Hurricane Amnesia Author – Is FTL Still the “Yachting Capital of the World’? Author – COVID-19; Florida CRE Winners and Losers Author – Office: You Can’t Live with It, You Can’t Live Without It Author – CRE Valuation Professionals Shouldn’t Overreact to COVID-19 Author – Florida Charter School Market Poised for Growth Author – Top Takeaways from the 2021 CCIM Outlook Conference Author – Economic Impact Studies: Shining a Light on the Positive Economic Benefits of Real Estate Development RECERTIFICATION AND CONTINUING EDUCATION The Appraisal Institute conducts a voluntary program of continuing education for its designated members. MAIs and SRAs who meet the minimum standards of this program are awarded periodic education certification. I am currently certified under this program. 1345 BANKS / LENDERS Amerinational American National Bank Amarillo National Bank Bank Leumi Bank of America, N.A. Bank of Florida Bank OZK Bank United, F.S.B. Banesco USA BBVA / Compass Bank Capital Bank Capital One Bank Catholic Order of Foresters Centerstate Bank CIBC World Markets CIT Bank Citibank, F.S.B. Citizens Bank City National Bank CLI Capital CNL Bank Coconut Grove Bank Comerica Commerce Bank, N.A. Credit Suisse ECCU Fidelity Bank of Florida Fifth Third Bank First American Bank First Citizens Bank First Horizon Bank First Housing First Republic Bank Florida Shores Bank First United Bank Flagler Bank Fuse Group GE Capital Gibraltar Private Bank & Trust Grand Bank and Trust of Florida Grandbridge Real Estate Capital Grove Bank & Trust Heartland Bank Housing Trust Group HSBC Bank USA Hudson Valley Bank Iberia Bank Israel Discount Bank International Finance Bank Ironstone Bank Key Bank, N.A. Landmark Bank Legacy Bank of Florida Locality Bank Mack RE Strategies Mercantile Bank New Wave Loans NorthMarq Northern Trust Bank of Florida Ocean Bank OptimumBank Pacific National Bank Pacific Western Bank PNC Bank Popular Community Bank Professional Bank RBC Bank Regions Bank Sabadell United Bank Safra National Bank of New York Seacoast Bank Seltzer Management Group Stonegate Bank Sun State Bank Surety Bank Synovus Textron Financial TD Bank TIAA Bank Total Bank Truist U.S. Bank U.S. Century Bank United National Bank Valley National Bank We Florida Financial Wells Fargo Bank Zeigler Capital Markets DEVELOPERS / INVESTORS 13th Floor Investments Aetna Realty Allen Morris Commercial Real Estate Alliance Companies Alta Development Altman Companies American Land Company Atlantic Pacific Companies Bachow Ventures Bergeron Development Blue Water Developers Brandon Companies Bridge Development Centerline Homes Charter Schools USA Codina Partners Colliers International S Florida Cornerstone Group Crocker Partners Cymbal Development Dezer Properties Drury Development Corporation Easton & Associates Eden Multifamily EJS Capital Partners El Ad National Properties Flagler / Codina Development Florida Crystals Florida East Coast Industries Florida East Coast Realty Fort Partners Foundry Commercial Fuse Group Gatlin Development Company Genting Group Graham Companies Halmos Holdings Hudson Capital Group Informa Ireland Companies J. Milton Family Partners Hix Snedeker Hooper Construction Jeff Greene Partners Lincoln Property Company Mast Acquisitions McCourt Development Merrimac Ventures Metropica Mill Creek Residential Trust M.R. McTigue & Co MRK Partners Nautical Ventures Netz Real Estate Fund New Urban Development Olen Properties Pebb Capital Pillar Multifamily Plaza Equity Partners Premier Developers RAM Real Estate Development Raza Development Red Apple Development Related Group Richman Capital l Rilea Group Ross Realty Investments Segbro Companies Servitas Stiles Corporation Taplin Companies Terra Trinsic Residential Group Woolbright Development ZOM Companies CORPORATE / COMPANIES Aelion Enterprises American Maritime Officers 1346 Partial Client List Page Two Avison Young BBX Capital Bradford Marine Brightline Budget Rent-A-Car Corporation Coastal Waste & Recycling Colliers Cushman Wakefield Derecktor Shipyards Florida Crystals Foundry Commercial Fox Rock Gulfstream Park Racing Assoc. Holman Automotive Huizenga Holdings IRG Sports & Entertainment Keith Lago Mar Beach Resort & Club Las Olas Companies Lowes Home Centers Miami Dolphins Moss Construction Palm Peterbilt Truck Centers Pantropic Power Pinecrest School Roscioli Yachting Center Seminole Indian Tribe of Florida Sheltair Tampa Electric (TECO) Uniform Advantage Westrec Marinas WS Development Yacht Management Group GOVERNMENT / MUNICIPAL Broward County Housing Authority BCPA Broward County, Florida Broward Health Broward Regional Health Planning Council City of Boca Raton City of Coconut Creek City of Coral Springs City of Coral Gables City of Fernandina Beach City of Fort Lauderdale City of Hallandale Beach City of Hialeah City of Hollywood City of Homestead City of Oakland Park City of Miami Beach City of Miramar City of Oakland Park City of Sunny Isles Beach City of Sunrise City of West Palm Beach City of Wilton Manors Fort Lauderdale DDA Fort Lauderdale Executive Airport First Housing Development Corp. First Housing Finance Corp. Hialeah Housing Authority Holy Cross Hospital Housing Authority of Broward County Housing Authority City of Ft. Laud. Lee County Miami Parking Authority Miami-Dade Housing Authority McDowell Housing Partners Monroe County Palm Beach Housing Authority Pasco Housing Authority Port of Palm Beach Sarasota Manatee Airport Authority School Board of Broward County South Florida Community Land Trust Town of Miami Lakes Town of Southwest Ranches United States Department of Justice United States Postal Service Vitas Healthcare INSTITUTIONAL/NON-PROFIT Aids Healthcare Foundation American Maritime Officers (AMO) Archdioceses of Miami Bonnet House Museum & Gardens Boys & Girls Club of Broward County Broward Health CSC of Broward County Dan Marino Foundation First Housing Corporation Florida Inland Navigation District Habitat for Humanity Henderson Behavioral Health Holy Cross /Trinity Health Housing Trust Group Las Olas Chabad Jewish Center Memorial Healthcare Systems Nova Southeastern University Salvation Army South Broward Hospital District Urban League Volunteers of America Watchtower Bible and Tract Society LIFE COMPANIES AEGON USA Realty Advisors Aetna Life Insurance Allstate Life Insurance Company Berkshire Life Insurance Co. First Colony Life Insurance Co. Genworth Financial Great American Life Insurance Co. Guardian Life Insurance IDS Life Insurance Co, ING Life Insurance Jefferson Pilot Life Insurance Co. John Hancock Mutual Life Lafayette Life Insurance Co. Life of Georgia Insurance Co. Lincoln National Life Ins. Co. Met Life Mortgage Minnesota Life Insurance Co. Mutual Life Insurance Co. Nationwide Life Insurance New York Life New England Mutual Life Northwestern Mutual Life Pacific Life Insurance Co. Principal Real Estate Investors Provident Mutual Prudential Insurance Corporation Southern Farm Bureau Life Insurance State Farm Life Insurance Thrivent Financial for Lutherans TransAmerica Life LAW FIRMS Akerman LLP Arnstein & Lehr LLP Berger Singerman LLP Brinkley Morgan Solomon Buchanan Ingersoll & Rooney PC Cooney Trybus Kwavnick Peets Dunay, Miskel & Backman Frank Weinberg & Black, PL Greenberg Traurig Gunster Lochrie & Chakas, PA Loving Scully Law Group Mastriana & Christiansen, PA Mombach, Boyle, Hardin & Simmons, P.A. Moskowitz, Mandell, Salim & Simowitz Nexterra Law Olive Judd Rafool Law Firm Rice Pugatch Robinson Storfer & Cohen Saavedra Goodwin Shutts, LLP Tripp Scott White & Case, LLP MORTGAGE / WALL STREET Ackman Ziff AGM Financial Aztec Group Berkadia Berkshire Mortgage Finance Chrysler Credit Corporation Dockerty Romer & Company Florida Bond & Mortgage 1347 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF ALBERT D. OWLER EDUCATION University of South Florida, Tampa, Florida Major in Finance B.A. Degree in Business Administration REAL ESTATE EDUCATION Has successfully completed or has credit for the following courses/exams under the auspices of the Appraisal Institute: Course 101 • Real Property Appraisal Course 1B-A • Capitalization Theory and Techniques A Course 1B-B • Capitalization Theory and Techniques B Course 2-3 • Standards of Professional Practice, Part A • Fundamentals of Separating Real Property, Personal Property and Intangible Business Assets APPRAISAL/REAL ESTATE EXPERIENCE 1992 – Present Senior Appraiser, Walter Duke + Partners, Inc., f/k/a, Clobus, McLemore & Duke, Inc. 1985 – 1992 Senior Appraiser and Review Appraiser, Hewitt, Olson & Associates, Inc. Appraisal assignments include the valuation and/or evaluation of a wide variety of commercial, residential and industrial properties in Colorado, Florida, Oklahoma, South Carolina and Texas, prepared for banks, savings and loans, savings bank, governmental agencies, and individuals. Property types include, but are not limited to, office buildings, educational, religious, warehouse and industrial properties, marinas, boatyards, shipyards, shopping centers, proposed and existing apartments, planned unit developments, residential subdivisions, acreage tracts, commercial/industrial land and special purpose properties. PROFESSIONAL AND CIVIC AFFILIATIONS Certified General Real Estate Appraiser – State of Florida No. RZ2114 Florida Real Estate Broker No. BK452723 Board Member, Marine Advisory Board, City of Dania Beach 1348 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF ANDREW S. ROLF, MAI EDUCATION Florida Atlantic University, Boca Raton, Florida Master of Business Administration (MBA) – 2010 Florida State University, Tallahassee, Florida Bachelor of Science Degree – 2003 Major – Real Estate and Finance REAL ESTATE APPRAISAL EDUCATION Appraisal Institute: Basic Income Capitalization – October 2004 Course 510 Advanced Income Capitalization – September 2008 Course 520 Market Analysis & Highest and Best Use – December 2009 Course 530 Advanced Sales Comparison & Coast Approaches – July 2010 Course 550 Advanced Applications – October 2009 General Appraiser Report Writing & Case Studies – October 2010 Separating Real Property, Personal Property & Intangible Assets – June 2012 APPRAISAL/REAL ESTATE EXPERIENCE 2007 – Present Senior Appraiser, Walter Duke + Partners, Inc., f/k/a, Clobus, McLemore & Duke, Inc. 2003 – 2007 Trainee Appraiser, Clobus, McLemore & Duke, Inc. Appraisal assignments include the valuation and/or evaluation of a wide variety of commercial properties in Florida prepared for banks, savings and loans, insurance companies, estates, governmental agencies, REITs, mortgage bankers and individual investors. Property types include, but are not limited to, proposed and existing shopping centers, office buildings, warehouses and industrial properties, rental apartment projects, acreage tracts, commercial/industrial land, mixed-use properties, self-storage facilities and senior housing facilities. PROFESSIONAL AFFILIATIONS MAI – Member, Appraisal Institute, No. 456819 State-Certified General Appraiser – State of Florida No. RZ3092 Real Estate Salesperson – State of Florida No. SL-3210795 RECERTIFICATION AND CONTINUING EDUCATION The Appraisal Institute conducts a voluntary program of continuing education for its designated members. MAIs who meet the minimum standards of this program are awarded periodic education certification. I am currently certified under this program. 1349 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF INGRID G. THOMAS EDUCATION Nova Southeastern University, Fort Lauderdale, Florida Juris Doctorate Degree - 2007 Florida Atlantic University, Boca Raton, Florida Masters of Business Administration Degree, 1997 Bachelor of Business Administration Degree, Management – 1994 REAL ESTATE APPRAISAL EDUCATION/EXPERIENCE 2022 – Present Trainee Appraiser, Walter Duke + Partners, Inc. Appraisal assignments include the valuation and/or evaluation of a wide variety of commercial properties in Florida prepared for banks, savings and loans, insurance companies, estates, governmental agencies, REITs, mortgage bankers and individual investors. Property types include, but are not limited to, proposed and existing multifamily residential, Low Income Housing Tax Credit multifamily, retail and office buildings, medical and veterinary offices, warehouses and industrial properties, commercial and industrial zoned land, and mixed-use properties. Other valuation services include market rent comparability studies and cost valuations. PROFESSIONAL AFFILIATIONS State-Registered Trainee Appraiser – State of Florida No. RI25633 Attorney – State of Florida Bar Number 40977 State Certified Real Estate Sales Associate – State of Florida No. SL3549072 Notary Public – State of Florida No. HH 15347 (Exp. 10/23/2024) 1350 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF JESSE A. LARSON jesse@walterduke.com EDUCATION Florida State University, Tallahassee, Florida Bachelor of Science Degree – 2019 Major – Real Estate APPRAISAL/REAL ESTATE EXPERIENCE 2019 – Present Trainee Appraiser, Walter Duke + Partners, Inc. Since joining Walter Duke + Partners in 2019, I have worked on numerous appraisal assignments including the valuation and/or evaluation of a wide variety of commercial properties in Florida prepared for banks, savings and loans, insurance companies, estates, governmental agencies, REITs, mortgage bankers, and individual investors. Property types include but are not limited to, proposed and existing retail buildings and shopping centers, office buildings, warehouses and industrial properties, rental apartment projects, acreage tracts, commercial/industrial land, mixed-use properties, and senior housing facilities. Specialty practice areas of mine include Net Leased assets, which Walter Duke + Partners is a market leader in this asset class. 2018 – 2019 Appraisal Analyst, Timberlane Appraisals, Associates. Upon joining Timberlane Appraisals in March 2018, I assisted in the valuation of various residential properties throughout Tallahassee and several surrounding counties. Property types ranged from single- family homes to vacant land to existing and proposed subdivision developments. I learned the process of valuation, starting with basic appraisal principles such as researching and analyzing sales, property inspection and assessments, and utilizing sales platforms such as MLS. PROFESSIONAL AFFILIATIONS State-Certified General Appraiser – State of Florida No. RZ4238 1351 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF KAITLYN EVANS EDUCATION University of North Florida, Jacksonville, Florida Bachelor of Business Administration Degree – 2015 Major – Marketing Minor – Spanish Language REAL ESTATE APPRAISAL EDUCATION/EXPERIENCE 2023 – Present State Certified General Appraiser, Walter Duke + Partners, Inc. 2017 – 2023 Trainee Appraiser, Walter Duke + Partners, Inc. . Appraisal assignments include the valuation and/or evaluation of a wide variety of commercial properties in Florida prepared for banks, savings and loans, insurance companies, estates, governmental agencies, REITs, mortgage bankers and individual investors. Property types include, but are not limited to, proposed and existing multifamily residential, Low Income Housing Tax Credit multifamily, retail and office buildings, medical and veterinary offices, warehouses and industrial properties, commercial and industrial zoned land, and mixed-use properties. Other valuation services include market rent comparability studies and cost valuations. PROFESSIONAL AFFILIATIONS State-Certified General Appraiser – State of Florida No. RZ4770 Notary Public – State of Florida No. HH 323552 (Exp. 10/19/2026) 1352 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | F 954.587.2702 | WalterDuke.com Since 1975 QUALIFICATIONS OF STEPHEN A. KUHN EDUCATION University of Florida, Gainesville, Florida Bachelor of Science Degree – 2002 Major – Finance Appraisal Institute, Gold Coast Professional Schools and Bert Rodgers Schools appraisal certification courses, continuing education, seminars and comprehensive examination. APPRAISAL/REAL ESTATE EXPERIENCE 11/2004 – Present General Appraiser, Walter Duke + Partners, Inc., f/k/a, Clobus, McLemore & Duke, Inc. 05/2004 – 11/2004 Assistant Appraiser, Diversified Real Estate Consulting Corporation 11/2002 – 03/2004 Sales Associate, NAI Rauch, Weaver, Norfleet, Kurtz & Co. Appraisal assignments include the valuation and/or evaluation of a wide variety of commercial, residential and industrial properties in Florida prepared for banks, savings and loans, savings bank, insurance companies, estates, governmental agencies, REIT’s, mortgage bankers, attorneys and individual investors. Property types include, but are not limited to, proposed and existing office buildings, shopping centers and retail development, warehouses and industrial properties, rental apartment projects, commercial and residential condominium projects, commercial/industrial land, acreage tracts, and special purpose properties including marinas and religious and/or educational facilities. PROFESSIONAL AFFILIATIONS State-Certified General Real Estate Appraiser – State of Florida No. RZ3157 Real Estate Salesperson – State of Florida No. SL-3035062 1353 Tab 3 1354 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | walter@walterduke.com | WalterDuke.com Since 1975 RE: Request for Proposals (RFP) for Property Appraisal Services - Tab 3 References Jennifer Ferriol, Director of Housing and Community Development City of West Palm Beach 401 Clematis Street, 3rd Floor West Palm Beach, FL 33401 561-822-1250 JFerriol@wpb.org Amy Canales, AICP, Planning & Zoning Director Sunny Isles Beach 18070 Collins Avenue Sunny Isles Beach, FL 33160 305-792-1757 acanales@sibfl.net Mark S. Lubelski, P.E., City Manager City of Sunrise 10770 West Oakland Park Boulevard Sunrise, FL 33351 954- 746-3430 CityManager@sunrisefl.gov Jenni Morejon, President & CEO Fort Lauderdale Downtown Development Authority 201 East Las Olas Boulevard, Suite 1150 Fort Lauderdale, Florida 33301 954-463-6574 Jenni@ftldda.org David J. Clark, FACHE, SVP, Operations Broward Health 1800 N.W 49th Street Fort Lauderdale, FL 33309 954.473.7450 djclark@browardhealth.org 1355 Tab 4 1356 2860 W State Road 84, Suite 109 | Fort Lauderdale, Florida 33312-4804 | T 954.587.2701 | walter@walterduke.com | WalterDuke.com Since 1975 March 15, 2024 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue, 4th Floor Boynton Beach, Florida 33435 RE: Request for Proposals (RFP) for Property Appraisal Services - Tab 4 Cost of Services Dear CRA Board: Per Attachment “A” to Tab 7, the appraisal fee schedule for each structure is estimated below. Each assignment will be reviewed according to the client’s specific requested scope of work and quoted accordingly within the below ranges. There are no reimbursable expenses. Our firm has the ability and strength to produce the appraisal reports within the time frame stated in the RFP. As for “vacant residential property”, many times the site is valued for a non-residential use in conjunction with contiguous sites. Our firm views these types of properties as commercial sites. We specialize in commercial real estate valuation and do not appraise single family homes. Respectfully, Walter B. Duke, III WBD/kf 1357 Tab 5 1358 State of Florida Department of State I certify from the records of this office that WALTER DUKE +PARTNERS, INC.is a corporation organized under the laws of the State of Florida,filed on September 2,1981. The document number of this corporation is F43195. I further certify that said corporation has paid all fees due this office through December 31,2023,that its most recent annual report/uniform business report was filed on March 2,2023,and that its status is active. I further certify that said corporation has not filed Articles of Dissolution. Given under my hand and the Great Seal of the State of Florida at Tallahassee,the Capital,this the Twelfth day of March,2024 Tracking Number:2117490192CU To authenticate this certificate,visit the following site,enter this number,and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 1359 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESDUKE, WALTER BRYAN IIIDo not alter this document in any form.2860 W STATE RD 84 STE 109LICENSE NUMBER: RZ375EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.FT LAUDERDALE FL 33312Always verify licenses online at MyFloridaLicense.com1360 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESOWLER, ALBERT DDo not alter this document in any form.2860 MARINA MILE #109LICENSE NUMBER: RZ2114EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.FORT LAUDERDALE FL 33312Always verify licenses online at MyFloridaLicense.com1361 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESROLF, ANDREW SCOTTDo not alter this document in any form.1551 NW 96TH AVENUELICENSE NUMBER: RZ3092EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.PLANTATION FL 33322Always verify licenses online at MyFloridaLicense.com1362 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESLARSON, JESSE ALEXANDERDo not alter this document in any form.2860 W STATE ROAD 84 SUITE 109LICENSE NUMBER: RZ4238EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.FORT LAUDERDALE FL 33312Always verify licenses online at MyFloridaLicense.com1363 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE REGISTERED TRAINEE APPRAISER HEREIN HAS REGISTERED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESEVANS, KAITLYNDo not alter this document in any form.1543 SW 19TH AVENUELICENSE NUMBER: RI24310EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.FORT LAUDERDALE FL 33312Always verify licenses online at MyFloridaLicense.com1364 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE CERTIFIED GENERAL APPRAISER HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESKUHN, STEPHEN ANTHONYDo not alter this document in any form.5906 ROYAL WAYLICENSE NUMBER: RZ3157EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.TAMARAC FL 33321Always verify licenses online at MyFloridaLicense.com1365 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONFLORIDA REAL ESTATE APPRAISAL BDTHE REGISTERED TRAINEE APPRAISER HEREIN HAS REGISTERED UNDER THEPROVISIONS OF CHAPTER 475, FLORIDA STATUTESTHOMAS, INGRID GRACEDo not alter this document in any form.6841 MCCLELLAN STLICENSE NUMBER: RI25633EXPIRATION DATE: NOVEMBER 30, 2024This is your license. It is unlawful for anyone other than the licensee to use this document.HOLLYWOOD FL 33024Always verify licenses online at MyFloridaLicense.comISSUED: 03/12/20241366 Tab 6 1367 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. INSURER(S) AFFORDING COVERAGE INSURER F : INSURER E : INSURER D : INSURER C : INSURER B : INSURER A : NAIC # NAME:CONTACT (A/C, No):FAX E-MAILADDRESS: PRODUCER (A/C, No, Ext):PHONE INSURED REVISION NUMBER:CERTIFICATE NUMBER:COVERAGES IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. OTHER: (Per accident) (Ea accident) $ $ N / A SUBR WVD ADDL INSD THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. $ $ $ $PROPERTY DAMAGE BODILY INJURY (Per accident) BODILY INJURY (Per person) COMBINED SINGLE LIMIT AUTOS ONLY AUTOSAUTOS ONLY NON-OWNED SCHEDULEDOWNED ANY AUTO AUTOMOBILE LIABILITY Y / N WORKERS COMPENSATION AND EMPLOYERS' LIABILITY OFFICER/MEMBER EXCLUDED? (Mandatory in NH) DESCRIPTION OF OPERATIONS below If yes, describe under ANY PROPRIETOR/PARTNER/EXECUTIVE $ $ $ E.L. DISEASE - POLICY LIMIT E.L. DISEASE - EA EMPLOYEE E.L. EACH ACCIDENT EROTH-STATUTEPER LIMITS(MM/DD/YYYY)POLICY EXP(MM/DD/YYYY)POLICY EFFPOLICY NUMBERTYPE OF INSURANCELTRINSR DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) EXCESS LIAB UMBRELLA LIAB $EACH OCCURRENCE $AGGREGATE $ OCCUR CLAIMS-MADE DED RETENTION $ $PRODUCTS - COMP/OP AGG $GENERAL AGGREGATE $PERSONAL & ADV INJURY $MED EXP (Any one person) $EACH OCCURRENCE DAMAGE TO RENTED $PREMISES (Ea occurrence) COMMERCIAL GENERAL LIABILITY CLAIMS-MADE OCCUR GEN'L AGGREGATE LIMIT APPLIES PER: POLICY PRO-JECT LOC CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY) CANCELLATION AUTHORIZED REPRESENTATIVE ACORD 25 (2016/03) © 1988-2015 ACORD CORPORATION. All rights reserved. CERTIFICATE HOLDER The ACORD name and logo are registered marks of ACORD HIRED AUTOS ONLY 3/13/2024 Marsh &McLennan Agency LLC 4400 PGA Blvd,Ste 1000 Palm Beach Gardens FL 33410 FLCertificates@MarshMMA.com Continental Casualty Company 20443 WALTEDUKE Transportation Insurance Company 20494WalterDuke+Partners,Inc. 2860 W.State Road 84,Suite #109 Fort Lauderdale FL 33312-4804 Ascot Specialty Insurance Company 45055 206043147 A X 1,000,000 X 1,000,000 X Ded 0 10,000 1,000,000 2,000,000 X 6012030550 3/10/2024 3/10/2025 2,000,000 A 1,000,000 X X 6012030550 3/10/2024 3/10/2025 A X X 1,000,00060120305953/10/2024 3/10/2025 1,000,000 X 10,000 B XWC6208898251/10/2024 1/10/2025 500,000 500,000 C Professional Liability $25,000 Deductible RPL231000001101 12/12/2023 12/12/2024 Per Claim Limit Aggregate Limit Retro Date 1,000,000 2,000,000 12/12/05 Proof of Insurance Only Boynton Beach Community Redevelopment Agency City of Boynton Beach 100 East Ocean Avenue 4th Floor Boynton Beach FL 33435 1368 Tab 7 1369 1370 1371 1372 1373 1374 1375 1376 1377 Evaluation Criteria Anderson Carr Callaway & Price-Considered Non-Responsive Cushman & Wakefield-Considered Non-Responsive Parrish & Edwards Vance Real Estate Services Walter Duke & Partners 2. Proposer Registration Yes, 2/28/24 No Yes, 3/26/24 Yes, 3/20/24 Yes, 3/23/24 Yes, 3/8/24 4b. Minimum Qualifications i. Current licensure by the State of Florida as a certified residential or general appraiser for a minimum of five (5) years. Must provide proof of licensure with submission. Proof of Licensing for: Anderson Carr, Inc. - Current DBPR for Division of Real Estate (expires 3/31/26) Current DBPRs for Florida Real Estate Appraisal BD- General Appraisers (all expire 11/30/24 for Banting: 1991, Aronld: 2006, Doran: 2009, McManus: 1990, Saar: FL 2021 NY unknown, Spengler) Proof of Licensing for: Parrish & Edwards, Inc. - Current DBPR for Division of Real Estate (expires 3/31/26) Provided City & County BTRs Current DBPRs for Florida Real Estate Appraisal BD- General Appraisers (all expire 11/30/24 for Edwards: 1992, Stair: 2006) Proof of Licensing for: Vance Real Estate Service, Inc.-Current DBPR for Division of Real Estate (expires 9/30/25) Current DBPR's for Florida Real Estate Appraisal BD - General Appraisers (all expire 11/30/24 for Jesse & Claudia Vance: 1990) Note: They specialize in commercial and do not do residential appraisals. Proof of Licensing for: Current DBPR's for Florida Real Estate Appraisal BD - General Appraisers (all expire 11/30/24 for Duke: 1990, Owler: 1995, Rolf: 2007, Thomas: in-training 2022, Larson: 2021, Evans: 2023, Kuhn: 2007, 4b. Minimum Qualifications ii. Five (5) years documented experience in the Palm Beach County real estate market within a redevelopment area verified through a resume and reference. Firm provided resumes for the following all have over 5 yrs. of experience: Robert Banting, Beau M. Arnold, Kevin Doran, Charleen McManus, William Spengler & Ronald Saar Firm provided local CRA clients w/in PBC (5+ years): Boynton Beach CRA, Delray Beach CRA, Riviera Beach CRA & WPB CRA Firm provided resumes for the two appraisers Brian Edwards/Joseph Stair w/ 5 yrs. or more experience. Firm provided reference of experience in PBC: Town of Jupiter, City of Greenacres, St. Lucie County, City of Delray, Delray CRA, PBC Right-of-Way Firm provided resumes both Jesse & Claudia Vance have over 5yrs. of experience. Firm provided reference of experience in PBC: Boca Raton, PBC, Boynton Beach, WPB, Delray & has performed appraisals for the BBCRA for a minium of 5 yrs. BBCRA will consist of Walter Duke, Andrew Rolf, Ingrid Thomas (in-training), Lisa Duke (is not a license appraiser-administrative) Firm provided list experience in PBC: Boca Raton, WPB, PBC Housing Authority, Port of Palm Beach and provided a list of commercial real estate appraisals in Boynton Beach 4b. Minimum Qualifications iii. Three (3) verifiable references from work performed in the last five (5) years. Firm provided 4 work references: Sorgini & Sorgini, PA, SFWMD, Lake Worth CRA & City of West Palm Beach Firm provided 6 work references (3 attys & 3 gov agencies) Barry S. Balmuth, PA, B. Douglas MacGibbon, PA, Jones & Foster, PA; St. Lucie County, Town of Jupiter, Delray Beach CRA Firm provided 3 references: Goren/Cherof, Jefferson Weaver, Esq. & CFO Port Consolidated Firm provided 5 references: City of WPB, Planning & Zoning for Sunny Isles Beach, City of Sunrise, Ft. Lauderdale DDA, Broward Health 5.Submittal Requirements a. Location and Deadline Yes Yes Yes Yes Yes Yes 5.Submittal Requirements b. Form and Number of Copies. Yes, Sealed Envelope, Clearly & Properly Marked (1) bound original Proposal document submitted with a title page listing the name of the RFP and the submitting proposer (1) unbound but clipped copy of the complete Proposal (1) digital copy of the complete Proposal in PDF format on a thumb drive - in a labeled envelope. Yes, Sealed Envelope, Clearly & Properly Marked (1) bound original Proposal document submitted with a title page listing the name of the RFP and the submitting proposer (1) unbound but clipped copy of the complete Proposal (1) digital copy of the complete Proposal in PDF format on a labeled CD/DVD NOT IN A SEALED ENVELOPE - Clearly & Properly Marked Yes, provided (1) bound original Proposal document submitted with a title page listing the name of the RFP and the submitting proposer (1) unbound but clipped copy of the complete Proposal (1) digital copy of the complete Proposal in PDF format on thumb drive-No PowerPoint is a link that is non-accessible; PP was not included on thumb drive. Thumb Drive was not labeled Yes, Sealed Envelope, Clearly & Properly Marked (1) bound original Proposal document submitted with a title page listing the name of the RFP and the submitting proposer (1) unbound but clipped copy of the complete Proposal (1) digital copy of the complete Proposal in PDF format on a thumb drive in a labeled envelope Yes, Sealed Envelope, Clearly & Properly Marked (1) bound original Proposal document submitted with a title page listing the name of the RFP and the submitting proposer (1) unbound but clipped copy of the complete Proposal (1) digital copy of the complete Proposal in PDF format on a labeled thumb drive Yes, Sealed Envelope, Clearly & Properly Marked (1) bound original Proposal document submitted with a title page listing the name of the RFP and the submitting proposer (1) unbound but clipped copy of the complete Proposal (1) digital copy of the complete Proposal in PDF format on a thumb drive in a labeled envelope 5.Submittal Requirements c. Completeness Yes Considered incomplete as price quotations and/or per Tab 4 Cost of Services does not provide a description of the fee structure, including all fees and reimbursable expenses. Not delivered in a sealed, clearly & properly marked envelope. No PowerPoint Presentation provided- Link provided for PowerPoint Presentation but did not work. Secretary of State Proof of Good Standing not included. No explanation of placement guarantee provided in Tab 4. Original provided dividers but not tabbed w/ numbers; electronic and hard copies were not tabbed. Secretary of State Certificate of Good Standing not included; they did provide (I looked them up and they are active). They also provided a list w/ agreements as approved appraiser vendors for Delray CRA, PBC Right-of-Way, PBC Purchasing, St. Lucie County & FL DEP Yes Yes 5.Submittal Requirements d. Signature Yes, all attachments executed by Robert Banting, as PT of Anderson & Carr, Inc. Yes, all attachments executed by Brian Edwards as President, Secretary, Treasurer & Director of Parrish & Edwards, Inc. Yes, all attachments executed by either Jesse or Claudia Vance as Director and Vice Pres. Respectively. All attachments are executed by Walter Duke as President of Walter Duke & Partners, Inc. 5.Submittal Requirements e. All responses must be submitted on the provided Price Quotation Response Form, Attachment “A”. Bid responses on vendor letterhead/quotation forms shall not be accepted. Responses must be typewritten or printed in ink, and must be signed in ink by an agent of the company having authority to bind the company or firm. FAILURE TO SIGN THE BID RESPONSE FORM AT THE INDICATED PLACES SHALL BE CAUSE FOR REJECTION OF THE BID. Yes, Attachment "A" properly completed Attachment "A" does not include price quotations; considered incomplete Yes, Attachment "A" completed but with conditions (See * note on the Attachment "A" - The above fees are average /typical for each property type .) Yes, Attachment "A" completed with price ranges Yes, Attachment "A" completed with price ranges 5.Submittal Requirements f. All responses must indicate whether or not the Respondent is a Local Business via submittal of a Certification Statement pursuant to City of Boynton Beach Administrative Policy Manual, Policy No.: 10.14.01(D) (Chapter: 10, Section: 14, Subject: 01; Paragraph D. https://www.boynton- beach.org/364/Local-Business-Preference Not a local business Not a local business Not a local business Not a local business 5.Submittal Requirements i. Required Elements of Proposals Proposals must contain all of the following documents and information, and all requirements contained in this RFP, in order to be deemed complete. Proposals not deemed complete may be rejected. Left blank intentionally Left blank intentionally Left blank intentionally Left blank intentionally Left blank intentionally Left blank intentionally Tab 1 - Cover Letter and Introduction Provided Provided Provided Provided Tab 2 - Demonstrated Experience for Firm and Project Personnel by providing resumes for all potentially assigned staff documenting experience with the Palm Beach County Real Estate market within a redevelopment area for the last five (5) years. Provided; only member that has not been licensedin FL for 5 yrs. is Ronald Saar, licensed in 2021.Provided Provided Provided-1 of the 2 licensed appraisers is in training. Tab 3 - References. Provide three (3) verifiable references from the last five (5) years.Provided Provided Provided Provided Provided Tab 4 - Cost of Services – Describe the fee structure, including all fees and reimbursable expenses. Explain the placement guarantee the firm will provide to the BBCRA. Provided, placement guaranteed on experience of firm, most current technology/data bank of verified sales transactoins & references. Not provided, statement: potential appraisals are quoted individually based on property type and complexity. Cost of Services and Time Frame differ in statements made in Cost of Service/Fee Schedule/Time of Completion State and Attachment "A". They agree to have the appraisals done withihn the time frame agreed upon (14 days). Also stated is that the form format for residential is $600 but more complex properties needing a narrative appraisal. They ALTERED Attachment "A" (*)-The above fees are average/typical for each property type. Cost of Services also outlined that their appraisals are in narrative format and not form. CRA would be given highest priority on work schedule. Typical delivery time is 2 wks. But time may be longer if multiple properties are involved. Also the responsiveness of the property owner could cause delays. Provided, placement guaranteed on ability and stregnth to perform the appraisals within the time frame stated in the RFP. Tab 5 - Proof of proper licensing by the State of Florida for all potentially assigned staff. Provide a certificate of good standing from the Secretary of State of Florida and the state in which the corporation is headquartered, if not Florida. Provided & I verified DBPR's & Sec. of State (active)Provided & I verified DBPR's & provided annual report for corporation (active)Provided & I verified DBPR's & Sec. of State (active)Provided & I verfieid DBPR's & Sec. of State (active) Tab 6 - Proof of General, Professional, and Commercial Liability Insurances.COI provided includes General Liability & Gen. Agrregate, Auto, Workman's Comp & Professional Liability Provided, Errors & Omissions, General Liability & Gen. Aggregate, Auto, Business Owners Contents; they provided a Workman's Comp Exemption COI provided includes General Liability & Gen. Agrregate, Errors & Omissions COI provided includes General Liability & Gen. Agrregate, Auto, Umbrella, Workman's Comp & Professional Liability Tab 7 - Provide a PowerPoint presentation of the Proposal, consisting of no more than ten (10) slides Provided, 8 slides No Powerpoint Presentation Provided Provided, 10 slides Provided, 8 slides Provided, 9 slides Attachment “A” – Price Quotation Response Form Completed & Signed Completed & Signed Completed & Signed Completed & Signed Attachment “B” – Addenda Acknowledgement Completed & Signed (they said they received 2 addendums; only one was sent out to 2 of their registrants)Completed & Signed Completed & Signed Completed & Signed Attachment “C” – Public Entity Crimes Statement Completed & Signed Completed & Signed Completed & Signed Completed & Signed REQUEST FOR PROPOSALS APPRAISAL SERVICES Evaluation Criteria 1378 Evaluation Criteria Anderson Carr Callaway & Price-Considered Non-Responsive Cushman & Wakefield-Considered Non-Responsive Parrish & Edwards Vance Real Estate Services Walter Duke & Partners REQUEST FOR PROPOSALS APPRAISAL SERVICES Evaluation Criteria Attachment “D” – Certification of Drug Free Workplace Program Completed & Signed Completed & Signed Completed & Signed Completed & Signed Attachment “E” – Authorization for Release of Information Completed & Signed Completed & Signed Completed & Signed Completed & Signed Attachment “F” – Certification of Non-Scrutinized Company Completed & Signed Completed & Signed Completed & Signed Completed & Signed Attachment “G” – Proposer(s) Information Completed Completed Completed Completed Attachment “H” – Acknowledgement Letter Completed & Signed Completed & Signed Completed & Signed Completed & Signed NOTE: 5.Submittal Requirements g. Failure to Meet Submittal Requirements. The failure to: meet the Deadline, submit a Proposal that complies with the form and number of copies requirements, or submit a complete Proposal, may result in the Proposal being rejected and returned at the sole discretion of the BBCRA. 1379 Price Quotation - ATTACHMENT "A"Anderson Carr Callaway & Price Cushman & Wakefield Parrish & Edwards Vance Real Estate Services Walter Duke & Partners Considered Non- Responsive PRICES NOT PROVIDED Considered Non-Responsive NOT DELIVERED IN A SEALED ENVELOPE *conditions to these prices- The fees are average/typical for each property type. Provided Ranges Provided Ranges Vacant Residential Property (Form Report)$600 $2,500 $600 Single Lots $750 - $900 Multiple Lots $1,950 - $2,450 N/A Single-Family Detached Home (Form Report)$700 NOT PROVIDED $750 $800 - $950 N/A 2-4 Unit Property (Form Report)$1,400 $2,700 $2,000 $900 - $1,100 $1,250 - $2,500 ≥ 5 Unit Property (Form Report)$2,000 $3,200 $2,600 $1,200 - $1,500 $2,500 - $4,000 Nonresidential Property (< 10,000 sq. ft.)$2,400 $3,000 $2,800 $1,800 - $2,200 $3,000 - $5,000 Nonresidential Property (≥ 10,000 sq. ft.)$2,400 $3,750 $3,300 $1,950 - $2,500 $3,500 - $5,500 Vacant Nonresidential Property $2,200 $3,000 $2,300 $1,700 - $1,950 $3,000 - $4,000 1380 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 OLD BUSINESS AGENDA ITEM 14.C SUBJECT: Discussion and Consideration of Request to Extend Closing Date for the Cottage District Infill Housing Redevelopment Project SUMMARY: On February 25, 2023, the Purchase and Development Agreement (PDA) between the CRA and Pulte Home Company, LLC (Pulte) for the Cottage Infill Housing Redevelopment Project was executed. On September 12, 2023, the Board approved the First Amendment to the PDA that extended the timeframe for all parties to agree on the Form of Restrictive Covenant prior to closing and allow the plat application to be submitted within 90 days of site plan approval for consistency with the City's development review process (see Attachments I & II). On May 6, 2024 Pulte Home Company, LLC submitted a request to extend the closing date on the Cottage District Properties (Attachment III). Pursuant to the PDA (¶6) Pulte may request a six (6) month extension to close on the properties with CRA Board Approval. Since the plat is a closing condition and it has not been approved to date, under the current terms of the PDA the closing date is currently scheduled for June 26, 2024 (12 months after the end of the feasibility period which June 26, 2023). Pulte is requesting a six-month extension with a closing date of December 26, 2024. If the plat is approved by the City, prior to December 26, 2024, then the closing date would be thirty (30) days after plat approval. FISCAL IMPACT: No Fiscal Impact CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve an extension to the closing date for the Cottage District properties as determined by the CRA Board and bring the Second Amendment to the Purchase and Development Agreement back to the CRA Board for approval. 2. Do not approve an extension to the closing date for the Cottage District properties. 3. Other action as determined by the CRA Board. 1381 •Attachment I - Purchase and Development Agreement •Attachment II - First Amendment to Purchase and Development Agreement •Attachment III - May 6, 2024 Pulte Closing Extension Letter ATTACHMENTS: Description 1382 1383 1384 1385 1386 1387 1388 1389 1390 1391 1392 1393 1394 1395 1396 1397 1398 1399 1400 1401 1402 1403 1404 1405 1406 1407 From:Andrew Maxey To:Shutt, Thuy Cc:Tack, Timothy; Utterback, Theresa; Nicklien, Bonnie; Curfman, Vicki; Hill, Vicki Subject:RE: Pulte LOI- Cottage District Date:Thursday, June 2, 2022 8:58:00 AM Attachments:image011.png image012.png image013.png image014.png image015.png image016.png Pulte LOI - Cottage District BBCRA_v2.pdf Good Morning Thuy, Although it’s not specifically referenced in the LOI, I also want to reaffirm Pulte’s commitment to working with as many local vendors and contractors as possible on this project. Pulte has existing contracts with 6 vendors located in Boynton Beach, 2 of which are within the boundary of the CRA. We also plan on utilizing local consultants for the community outreach phase of the project. Please let me know if you have any additional questions. Thank you. Andrew Maxey – VP Land Acquisition Southeast Florida Division 1475 Centrepark Blvd., Suite 305, West Palm Beach, FL 33401 Direct (561) 206-1410 Cell (404) 451-2386 andrew.maxey@pultegroup.com From: Andrew Maxey Sent: Wednesday, June 1, 2022 9:02 AM To: Shutt, Thuy <ShuttT@bbfl.us> Cc: Tack, Timothy <TackT@bbfl.us>; Utterback, Theresa <UtterbackT@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us>; Curfman, Vicki <CurfmanV@bbfl.us>; Hill, Vicki <HillV@bbfl.us> Subject: RE: Pulte LOI- Cottage District Thuy, Sorry for the delay here. I have updated our LOI to reflect the 3 new single family plans we are proposing (Browning, Chapman, and Hamden). The collateral provided in Exhibit C show the front elevations, floorplans, square footage, and bed/bathroom count. Let me know any questions. Thanks. 1408 Andrew Maxey – VP Land Acquisition Southeast Florida Division 1475 Centrepark Blvd., Suite 305, West Palm Beach, FL 33401 Direct (561) 206-1410 Cell (404) 451-2386 andrew.maxey@pultegroup.com From: Shutt, Thuy <ShuttT@bbfl.us> Sent: Tuesday, May 17, 2022 7:02 PM To: Andrew Maxey <Andrew.Maxey@PulteGroup.com> Cc: Tack, Timothy <TackT@bbfl.us>; Utterback, Theresa <UtterbackT@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us>; Curfman, Vicki <CurfmanV@bbfl.us>; Hill, Vicki <HillV@bbfl.us> Subject: RE: Pulte LOI- Cottage District Good evening, Andrew, Thank you for your updated letter. We appreciate your interest in our Cottage District Project. We will update our files to include this revised LOI for the CRA Board’s consideration at their July 12th meeting (since the 30 day public notice time period will not end until after the June 14th Board meeting). Could you please give me a call at your earliest convenience so I can make sure the attached document (which was included in the 5/10 agenda item) will be updated to correctly reflect your revised LOI (SFD model size and types, etc.). Thank you. Thuy Shutt , AIA, FRA‑RA Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 561-600-9098 ShuttT@bbfl.us | http://www.boyntonbeachcra.com 1409 America's Gateway to the Gulfstream Please be advised that Florida has a broad public records law and all correspondence to me via email may be subject to disclosure.Under Florida records law, email addresses are public records. Therefore, your e-mail communication and your e-mail address may be subject to public disclosure. From: Andrew Maxey <Andrew.Maxey@PulteGroup.com> Sent: Tuesday, May 17, 2022 4:37 PM To: Shutt, Thuy <ShuttT@bbfl.us> Subject: RE: Pulte LOI- Cottage District Thuy, Attached please find Pulte’s revised Letter of Intent to purchase the Cottage District property. Thanks, Andrew Maxey – VP Land Acquisition Southeast Florida Division 1475 Centrepark Blvd., Suite 305, West Palm Beach, FL 33401 Direct (561) 206-1410 Cell (404) 451-2386 andrew.maxey@pultegroup.com From: Shutt, Thuy <ShuttT@bbfl.us> Sent: Wednesday, April 27, 2022 10:46 PM To: Andrew Maxey <Andrew.Maxey@PulteGroup.com> Subject: RE: Pulte LOI- Cottage District External Sender Thank you, Andrew. We will include this for the CRA Board consideration at the May 10th CRA Board meeting. We will provide you with the agenda item once the board packet is finalized and uploaded on the website (scheduled for May 3rd). Thuy Shutt , AIA, FRA‑RA Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 1410 561-600-9098 ShuttT@bbfl.us | http://www.boyntonbeachcra.com America's Gateway to the Gulfstream Please be advised that Florida has a broad public records law and all correspondence to me via email may be subject to disclosure.Under Florida records law, email addresses are public records. Therefore, your e-mail communication and your e-mail address may be subject to public disclosure. From: Andrew Maxey <Andrew.Maxey@PulteGroup.com> Sent: Tuesday, April 26, 2022 3:41 PM To: Shutt, Thuy <ShuttT@bbfl.us> Subject: Pulte LOI- Cottage District Good Afternoon Thuy, I hope all is well with you. Pulte would like to respectfully submit the attached Letter of Intent to purchase the Cottage District property owned by the CRA. Please reach out with questions. Thank you, Andrew Maxey – VP Land Acquisition Southeast Florida Division 1475 Centrepark Blvd., Suite 305, West Palm Beach, FL 33401 Direct (561) 206-1410 Cell (404) 451-2386 andrew.maxey@pultegroup.com 1411 CONFIDENTIALITY NOTICE: This email may contain confidential and privileged material for the sole use of the intended recipient(s). Any review, use, distribution or disclosure by others is strictly prohibited. If you have received this communication in error, please notify the sender immediately by email and delete the message and any file attachments from your computer. Thank you. CONFIDENTIALITY NOTICE: This email may contain confidential and privileged material for the sole use of the intended recipient(s).Any review, use, distribution or disclosure by others is strictly prohibited. If you have received this communication in error, please notify the sender immediately by email and delete the message and any file attachments from your computer. Thank you. CONFIDENTIALITY NOTICE: This email may contain confidential and privileged material for the sole use of the intended recipient(s).Any review, use, distribution or disclosure by others is strictly prohibited. If you have received this communication in error, please notify the sender immediately by email and delete the message and any file attachments from your computer. Thank you. 1412 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 REVISED: June 1, 2022 To: Thuy Shutt Executive Director Boynton Beach CRA Subject: Letter of Intent to Purchase Cottage District Property Thuy, Enclosed is the revised Letter of Intent for Pulte Home Company, LLC (Pulte) to acquire a +/-4.5- acre property owned by the Boynton Beach Community Redevelopment District, commonly known as the Cottage District Property. Pulte has made the following changes to the terms of the LOI: • Purchase Price- Increased land price to match the appraisal of $2,472,000 and removed 3% marketing fee. • Home Sale Prices- Adjusted our commitment on home sale prices to only target buyers in the Low and Mod-1 categories (60% to 100%), resulting in sales prices of $168,420 and $216,540, respectively. • Home Architecture- Added samples of the architecture style (see Exhibit C). It is also important to note that Pulte’s proposal is for 100% fee simple ownership and has no rental component. In alignment with the goals and principles contained in the 2016 Boynton beach CRA Redevelopment Plan, our proposal is uniquely designed to complement and add character to the neighborhood and provide home ownership for residents in the 40% to 100% AMI range. We thank you for the opportunity to revise our Letter of Intent and be considered again for this exciting project. Thank you, Andrew Maxey Vice President of Land Acquisition Southeast Florida Division 1475 Centrepark Blvd., Suite 305 West Palm Beach, Florida 33401 Andrew.Maxey@PulteGroup.com 1413 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 1) Property Description. The property under consideration consists of ±4.5 acres located in the City of Boynton Beach, Florida and roughly depicted below. 2) Valuation. The total purchase price for the property shall be $2,472,000. 3) Intended Use. Pulte’s intended use for the property is a fee-simple community designed in accordance with Palm Beach County’s Workforce Housing Program of at least 40 units. (See Exhibits A and B.) Units will be sold according to Palm Beach County Workforce Housing Program guidelines in the lower 2 categories (Low and Mod -1) which is based on AMI between 60% and 100%. The units will also be subject to a 15-year deed restriction on resale price. The proposed product is consistent with the plan previously submitted in the RFP and samples are attached in Exhibit C. 4) Deposits/Fees. First Escrow Deposit: The first deposit of $10,000 is due within five business days after the parties execute a mutually acceptable contract and is fully refundable to Pulte until the completion of the inspection period. Second Escrow Deposit: Upon the end of the inspection period, Pulte will deliver, within five business days, an additional deposit of $60,000 to escrow agent bringing the total deposit to $70,000. The first and second deposits are to be creditable against the total purchase price at closing and will be non-refundable after the expiration of the inspection period. 1414 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 5) Inspection Period. Pulte will require 120 days from the signing of the contract in which to investigate the property at Pulte's expense. 6) Entitlement Period. Following the expiration of the inspection period, Pulte shall have a period of 10 months to obtain the necessary entitlements to develop the property according to the intended use. 7) Closing Schedule. Pulte shall close on the property on the earlier to occur of 30 days after all closing conditions are fulfilled or 30 days after the expiration of the entitlement period. 8) Conditions to Close. a) Rezoning and land use approval in accordance with the intended use b) Final site plan approval for intended use c) Sitework/earthwork permits required for clearing and excavation d) Water/sewer permits e) SFWMD environmental resource permit (if applicable) f) US Army Corp of Engineers permit (if applicable) 9) Title Evidence. BBCRA will pay for title insurance in the amount of the purchase price and provide a title commitment during the first twenty days of the inspection period. Permitted title exceptions will be determined by the end of the inspection period. 10) Survey. If available, BBCRA will provide survey within the first five days of the inspection period. Pulte will be responsible for updating the survey. 11) Closing Costs and Proration. Each party will pay its cost of document preparation and attorney’s fees. BBCRA is to pay for documentary stamps in connection with the conveyance of the property. All real estate and personal property taxes, leases, and other related costs shall be prorated as of the date of the closing. 12) Broker. Pulte and BBCRA agree that they are not represented by any broker in this transaction. 13) Confidentiality. Pulte and BBCRA agree to maintain the terms of this LOI and all negotiations relating to the property as confidential between Pulte and BBCRA and shall not disclose their existence of this LOI to any other person. This letter is not intended to create legally binding commitments. Parties shall become legally bound only if and when they execute a mutually acceptable contract. If the foregoing i s acceptable, please indicate your approval by signing this letter in the space provided below and return one signed copy to Pulte at the address shown on this letterhead. Upon receipt of the acceptance, Pulte will commence preparation of a mutually accep table written contract. Agreed and Accepted: By: _______________________________________ Date: _____________________________________ 1415 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 Exhibit A: Palm Beach County Workforce Housing Program, 2021 WHP Unit Sales Prices: Exhibit B: Pulte’s intended use as reflected in original RFP submittal. Plan may be updated to include more units built on newly added parcels. Model Quantity Single Family Detached Browning (1 story) 2 Chapman (1 story) 4 Hamden (2 story) 3 Single Family Attached (2-Story Townhome) 20’ Interior Townhomes 19 20’ Exterior Townhomes 12 Total Units Proposed 40 1416 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 Exhibit C: Sample Elevations of Single-Family Product 1417 1,447 A/C Sq. Ft. | 3 Bedrooms | 2 Baths Browning Home Exterior FM1 Home Exterior CO1 1418 • 1,447 A/C Sq. Ft. • 3 Bedrooms • 2 Baths Browning Artist’s renderings are conceptual only and are not intended to be an exact representation or show specific detailing. Square footage, room dimensions and spatial arrangements on this plan are approximate and may vary in final construction and may vary by elevation. See a sales representative for details. ©2021 Pulte Home Company, LLC. CBC057850 CAS 9-17-21 Visit liveatcarversquare.com for more information on workforce housing at Carver Square. 2 CAR GARAGE 19'-4" x 19'-9" BEDROOM 3 11'-0" x 10'-6" BEDROOM 2 11'-0" x 10'-6" OWNER'S SUITE 13'-5" x 12'-11" GATHERING ROOM 13'-5" x 18'-2" CAFE 11'-2" x 8'-10" KITCHEN WIC LAUN BATH 2 L L FOYER O. BATH P 1419 1,662 A/C Sq. Ft. | 3 Bedrooms | 2 Baths Chapman Home Exterior FM1 Home Exterior CO1 1420 • 1,662 A/C Sq. Ft. • 3 Bedrooms • 2 Baths Chapman Artist’s renderings are conceptual only and are not intended to be an exact representation or show specific detailing. Square footage, room dimensions and spatial arrangements on this plan are approximate and may vary in final construction and may vary by elevation. See a sales representative for details. ©2021 Pulte Home Company, LLC. CBC057850 CAS 11-2-21 Visit liveatcarversquare.com for more information on workforce housing at Carver Square. COVERED LANAI 13'-0" x 9'-0" CAFE 11'-5" x 13'-2" OWNER'S SUITE 13'-8" x 12'-10" KITCHEN BEDROOM 2 12'-5" x 10'-6" BEDROOM 3 10'-1" x 10'-8" FOYER LAUN P L WIC GATHERING ROOM 16'-11" x 16'-8" 2 CAR GARAGE 20'-1" x 20'-2" BATH 2 1421 1,822 A/C Sq. Ft. | 3 Bedrooms | 2.5 Baths Hamden Home Exterior FM1 Home Exterior CO1 1422 • 1,822 A/C Sq. Ft. • 3 Bedrooms • 2.5 Baths Hamden Artist’s renderings are conceptual only and are not intended to be an exact representation or show specific detailing. Square footage, room dimensions and spatial arrangements on this plan are approximate and may vary in final construction and may vary by elevation. See a sales representative for details. ©2021 Pulte Home Company, LLC. CBC057850 CAS 9-17-21 Visit liveatcarversquare.com for more information on workforce housing at Carver Square. CAFE 11'-0" x 8'-0" KITCHEN STORAGE GATHERING ROOM 17'-8" x 19'-8" PR FOYER 2 CAR GARAGE 20'-2" x 20'-2" P PORCH UP LINE OF FLOOR ABOVE L LAUNDRY WIC O. BATH OWNER'S SUITE 13'-0" x 14'-4" BA. 2 L BEDROOM 3 10'-5" x 10'-4" L BEDROOM 2 11'-9" x 10'-9" DN First Floor Second Floor 1423 Cottage District Infill – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 April 28, 2022 To: Thuy Shutt Executive Director Boynton Beach CRA Subject: Letter of Intent to Purchase Cottage District Infill Redevelopment Project Thuy, This letter is to serve as a Letter of Intent (LOI) for Pulte Home Company, LLC (Pulte) to enter contract negotiations to acquire ±4.5 acres in Palm Beach County, Florida owned by the Boynton Beach Community Redevelopment District (BBCRA). Pulte Home Company, LLC has the capital to complete this transaction, and we will not include any 3rd party lending approvals or state/local grants as part of our offer to purchase. We are flexible, and we are happy to negotiate deal terms. Our team does not use standardized contract templates, and we can make quick updates in an effort to reach a mutually beneficial agreement. This LOI follows our previous submittal during the BBCRA’s request for proposals in which Pulte’s submittal finished in second-place consideration. With the understanding that the first- place proposal has not materialized, Pulte submits its updated proposal. We look forward to hearing from you and want to assure you we are prepared to act quickly in working to arrive at a mutually acceptable contract. This offer is valid for one month. PulteGroup’s mission to be America’s most respected home builder begins with our site acquisition. On behalf of the PulteGroup Southeast Florida Division, we would be grateful for the opportunity to begin this process with you. Thank you, Andrew Maxey Vice President of Land Acquisition Southeast Florida Division 1475 Centrepark Blvd., Suite 305 West Palm Beach, Florida 33401 Andrew.Maxey@PulteGroup.com 1424 Cottage District Infill – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 1) Property Description. The property under consideration consists of ±4.5 acres located in the City of Boynton Beach, Florida and roughly depicted below. 2) Valuation. The total valuation shall be the summation of the purchase price plus a BBCRA Success Fee. The total value is estimated at $688,000. a) A purchase price of $400,000, equal to $10,000 for each of the 40 homes proposed in Pulte’s intended use. b) A BBCRA Success Fee equal to 3% of the sales price of the completed homes and to be paid on a quarterly basis following home closings. Assuming an average sales price of $240,000, the Fee shall equal $288,000 (= 3% x $240,000 x 40 homes). c) Purchase price and Success Fee shall be paid in cash. Pulte does not require any loans or incentives to close. 3) Intended Use. Pulte’s intended use for the property is a fee-simple community designed in accordance with Palm Beach County’s Workforce Housing Program of at least 40 units. (See Exhibits A and B.) Units will be sold according to Palm Beach County Workforce Housing Program guidelines, which includes recording a covenant for a 15-year sales price dee restriction. 1425 Cottage District Infill – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 4) Deposits/Fees. First Escrow Deposit: The first deposit of $10,000 is due within five business days after the parties execute a mutually acceptable contract and is fully refundable to Pulte until the completion of the inspection period. Second Escrow Deposit: Upon the end of the inspection period, Pulte will deliver, within five business days, an additional deposit of $60,000 to escrow agent bringing the total deposit to $70,000. The first and second deposits are to be creditable against the total purchase price at closing and will be non-refundable after the expiration of the inspection period. 5) Inspection Period. Pulte will require 120 days from the signing of the contract in which to investigate the property at Pulte's expense. 6) Entitlement Period. Following the expiration of the inspection period, Pulte shall have a period of 10 months to obtain the necessary entitlements to develop the property according to the intended use. 7) Closing Schedule. Pulte shall close on the property on the earlier to occur of 30 days after all closing conditions are fulfilled or 30 days after the expiration of the entitlement period. 8) Conditions to Close. a) Rezoning and land use approval in accordance with the intended use b) Final site plan approval for intended use c) Sitework/earthwork permits required for clearing and excavation d) Water/sewer permits e) SFWMD environmental resource permit (if applicable) f) US Army Corp of Engineers permit (if applicable) 9) Title Evidence. BBCRA will pay for title insurance in the amount of the purchase price and provide a title commitment during the first twenty days of the inspection period. Permitted title exceptions will be determined by the end of the inspection period. 10) Survey. If available, BBCRA will provide survey within the first five days of the inspection period. Pulte will be responsible for updating the survey. 11) Closing Costs and Proration. Each party will pay its cost of document preparation and attorney’s fees. BBCRA is to pay for documentary stamps in connection with the conveyance of the property. All real estate and personal property taxes, leases, and other related costs shall be prorated as of the date of the closing. 12) Broker. Pulte and BBCRA agree that they are not represented by any broker in this transaction. 13) Confidentiality. Pulte and BBCRA agree to maintain the terms of this LOI and all negotiations relating to the property as confidential between Pulte and BBCRA and shall not disclose their existence of this LOI to any other person. 1426 Cottage District Infill – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 This letter is not intended to create legally binding commitments. Parties shall become legally bound only if and when they execute a mutually acceptable contract. If the foregoing is acceptable, please indicate your approval by signing this letter in the space provided below and return one signed copy to Pulte at the address shown on this letterhead. Upon receipt of the acceptance, Pulte will commence preparation of a mutually acceptable written contract. Agreed and Accepted: By: _______________________________________ Date: _____________________________________ 1427 Cottage District Infill – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 Exhibit A: Palm Beach County Workforce Housing Program, 2021 WHP Unit Sales Prices: WHP Income Category (Based on AMI) Sales Price Low 60% - 80% $48,120 - $64,160 $168,420 Mod1 >80% - 100% >$64,160 - $80,200 $216,540 Mod 2 >100% - 120% >$80,200 - $96,240 $264,660 Middle* >120% - 140% >$96,240 - $112,280 $312,780 Exhibit B: Pulte’s intended use as reflected in original RFP submittal. Plan may be updated to include more units built on newly added parcels. Model Quantity Single Family Detached (1-Story) Brookwood 2 Cedar 4 Highgate 3 Single Family Attached (2-Story Townhome) 20’ Interior Townhomes 19 20’ Exterior Townhomes 12 Total Units Proposed 40 1428 | 37Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project Project Description Pulte recognizes that redevelopment of the Cottage District, within the Heart of Boynton District, is a priority for the Boynton Beach CRA and we are very excited to share our proposal with the CRA. Our proposal is uniquely designed to complement and add value to the existing neighborhood and its residents as well as further the goals and principles contained within the 2016 Boynton Beach CRA Redevelopment Plan (“BBCRA Plan”). Among the goals that the Pulte proposal furthers from the plan are: ■Protect and enhance existing single-family neighborhoods ■Create a comfortable, walkable and safe pedestrian-scale environment connecting residents and visitors to the commercial, social/cultural and recreational amenities within each District ■Develop policies and strategies for providing adequate public parking within each District to support commercial and residential redevelopment ■Encourage and assist existing development and redevelopment projects that provide employment and economic opportunities ■Encourage the implementation of streetscape enhancements within the Districts ■Encourage the development of new affordable housing (with no subsidies from the CRA or any other public funding/tax source) Pulte’s plan consists of 9 single family detached and 31 single family attached (townhome) units for a total of 40 new single family units within the Heart of Boynton. Drawing from the architectural styles of the surrounding neighborhood and the BBCRA, we are proposing two styles – Florida Mediterranean and Florida Coastal. Both styles complement the existing homes, reflect the historic character of the proposed Shepard Funk Addition Historic Cottage District along NE 3rd Avenue and Boynton’s coastal history. Our plan provides new homeownership opportunities and has been carefully designed to enhance and protect the surrounding neighborhood. We’ve included a small neighborhood park along NE 1st Street with landscape, hardscape, shade structure and lighting features, as well as a dual use passive recreation/dry detention area, a network of sidewalks and pathways around and throughout the site which connect to the existing neighborhood and provide access for the community at- large. While the small park will be deeded to the City of Boynton Beach to ensure perpetual community access, the Pulte HOA may retain responsibility for park maintenance. We’ve also included additional parking, both on- street parking on NE 1st Street (six spaces in the right-of-way), as well as off-street – six at the townhomes and nine at the new park. The on-street parking, along with new decorative streetlights and the perimeter sidewalks provide traffic calming and a pedestrian environment to the site. The BBCRA Plan identifies the vision for the Heart of Boynton District as “becoming a model neighborhood, with its unique character and history preserved. The vision includes enriching the original vernacular architecture of the neighborhood, investing in housing and commercial uses, and connecting both through the pedestrian and vehicular networks.” The vision further addressed via three recommendations: Streetscape, Land Use, and Urban Design. Pulte’s plan responds to and enhances the each of the BBCRA recommendations for the Heart of Boynton District as explained below. F. DETAILED DESCRIPTION OF THE PROPOSED PROJECT Proposed Project Plan | 4 1429 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 38 Proposed Project Plan | 4 Streetscape The BBCRA Plan outlines a variety of streetscape enhancements for Seacrest Boulevard including “bus shelters and the creation of a Pedestrian Zone adjacent to rights-of-way that inviting, safe and includes a minimum 8’ wide clear sidewalk, decorative light poles are both vehicular and pedestrian scales, and installation of canopy trees that provide immediate sharing at time of construction”. Pulte’s plan includes a 5’ sidewalk, retaining the existing decorative streetlights and installing larger canopy trees along the portion of the site adjacent to Seacrest Boulevard. We are also continuing the pedestrian enhancements through an interconnecting network of sidewalks and pathways throughout the site. Decorative streetlights will be provided along the perimeter and interior of the site. Off-street parking is provided long NE 1st Street, which provides for traffic calming as recommended by the BBCRA and the community. Additional off-street parking is provided adjacent to the pocket park and within the site itself. Lastly, we have incorporated a bus shelter for school children in the pocket park along NE 1st Street. We will work with the CRA and the Palm Beach County School District to ensure the bus shelter meets their standards and is utilized as a neighborhood school bus stop. Land Use The existing future land designation for the site is Medium Density Residential and the BBCRA Plan notes that High Density Residential would also be appropriate. Pulte’s plan maintains the existing Medium Density Residential as a means of protecting the surrounding neighborhood. We have done so because while we understand the surrounding community desires new housing opportunities, they want the new opportunities to be consistent with and integrated into the existing fabric. We have opted to propose fee simple single-family opportunities instead of rental opportunities. The current zoning designation is R-2, One and Two-Family, which allows for the proposed density, however we will rezone to PUD. Urban Design The BBCRA Plan identifies three architectural styles in the Heart of Boynton District. The three architectural styles are Mission, Frame Vernacular and Mediterranean. The BBCRA Plan recommends “that when building in this District, new development shall utilize one of these styles”. The BBCRA Plan also notes that the Cottage District should be developed with single-family for- sale homes in the style of the surrounding historic cottages. The surrounding cottages are primarily frame vernacular. Pulte’s plan proposes two architectural styles in keeping with the recommendations of the BBCRA Plan. We are proposing the Florida Mediterranean which is consistent with the BBCRA Plan’s Mediterranean Revival 1430 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 39 Proposed Project Plan | 4 style and includes one and two-story structures, stucco finishes, gable and hip roofs with shingle tiles, window and door surrounds, decorative horizontal banding and graceful arches. Select plans also include columns and corbels. We are also proposing a Frame Vernacular style – Florida Coastal – which draws from Boynton Beach’s coastal identity and is consistent with the styles identified by the BBCRA. This style features stucco finishes, board and batten detailing, gable and hip roofs with shingles, rafters and decorative banding. In order to provide further consistency within Pulte’s plan, the single-family units will be offered in both architectural styles while the townhomes will be in the Florida Mediterranean. The architectural styles are also in keeping with the design guidelines contained in the City’s Land Development Regulations. Further, the RFP provides a variety of sample elevations including Mediterranean, Coastal, Craftsman and Caribbean. Both of our architectural styles, Florida Mediterranean and Florida Coastal, are consistent with the sample elevations contained in the RFP. The 2009 The Downtown Vision and Master Plan (“2009 DMP”) notes that while the area does not have a “signature look or style, the creation of a City’s identity … establishing urban design guidelines that will promote the vernacular architecture”. The 2009 DMP points to architectural structures that can be used as a “basis for future design guidelines” such as the Women’s Club and Old School House. The 2009 DMP further notes that the neighborhoods are predominantly a continuous network of streets in a grid pattern. The 2009 DMP also notes that land uses and densities should “ensure a logical and clear transition linking the downtown core to surrounding areas”. Pulte’s plan has taken each of the above recommendations into consideration. Specifically, our architectural style mirrors the Mediterranean Revival of the Women’s Club and the Old School House. We retain and complement the existing grid pattern of the neighborhood and our proposed density of 9.2 units per acre serves as a clear transition between the 2009 DMP and BBCRA Plan recommendations for higher densities in the urban core and the surrounding area as well as a transition to the higher densities proposed for the MLK District. The RFP provides Urban Neighborhood Site Plan Concepts including site planning elements for lots, special condition lots and garage design and sitting. Pulte’s plan meets the site planning concepts including an urban streetscape with consistent and minimum setbacks and shade trees and other landscaping to define the front yards and street edges and provide for traffic calming. Along the perimeter of the site, each home is sited towards and relates to the street. This pattern continues with the three interior townhome buildings which relate to the interior access drive. The sidewalks and driveways are of the same consistent material, AC units are screened, and garages are set back from the front of the homes on two of the three single family detached plans. Care has been taken to ensure the homes surrounding the pocket park respond to both the park and the street. With respect to garage siting, the driveways are limited to 9’ in width, whenever possible, and the garage is secondary due to being recessed, whenever possible. Description of Housing Units and Housing Types Proposed In an effort to better serve the needs of the surrounding community and residents, Pulte is proposing a mix of housing types including both single family detached and single family attached (townhome); a total of 9 single family and 31 townhome units are proposed across a total of five plans. Specifically, we are proposing three single family detached plans: the Brookwood, the Cedar, and the Highgate as well as two single family attached plans: the Navarre and the Grayton. The single family detached homes are one-story, 3 or 4 bedrooms, 2 baths, and 2 car garages. The single family attached (townhomes) are two story buildings (4, 5, and 7 unit configurations), 3 bedrooms, 2.5 baths, and 1 or 2 car 1431 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 40 Proposed Project Plan | 4 garages. The mean roof height of the single family detached homes is 13’9”. The mean roof height of the single family attached homes (townhome) is 25’3” and second floor wall planes are recessed. Additionally, the front facades are articulated to ensure the massing is consistent with the existing homes. The living area of the single family homes range from 1,447 to 1,850 square feet; while the living area of the townhomes are 1,636 square feet. Pulte’s floorplans are consumer driven and the result of extensive consumer research and feedback to create the best in livability. Our plans have flexible, updated floorplans to make the buyers life easier and more enjoyable. The chart below details the total square footage, living area square footage (under air), number of bedrooms, number of bathrooms and garage for each plan as well as the proposed number of each plan. All plans include our signature Build Quality Experience which includes communication with the buyer every step of the way. Pulte Construction Standards meet or exceed those of the industry. We include many energy-efficient and smart home features that help reduce the home’s energy consumption such as radiant barrier roof decking to reduce heat absorption and improve HVAC efficiency, high-efficiency HVAC systems, programmable thermostats, energy-star qualified appliances, low-emissivity windows and compact fluorescent and LED lighting. Pulte homes are built with sustainability in mind. We partner with industry leaders who strive for the same excellence as we do including Lenox, Moen, Mohawk, Shaw, Sherwin-Williams and Whirlpool. Please refer to page 41 for additional building specifications. Model Total Square Footage Living Area Square Footage Bedrooms Bathrooms Height Garage Quantity Single Family Detached (1-Story) Brookwood 2,028 1,447 3 2 13’9”2 car 2 Cedar 2,267 1,662 3 2 13’9”2 car 4 Highgate 2,399 1,850 4 2 13’9”2 car 3 Single Family Attached (2-Story Townhome) Navarre 18’ (interior units)1,874 1,636 3 2.5 25’3”1 car 19 Grayton 20’ (end units)2,084 1,637 3 2.5 25’3”2 car 12 Total Units Proposed 40 Density 9.2 du/ac 1432 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 41 Architectural and Design Features ■Monolithic slab and CMU (concrete block) exterior walls with bond beams ■Prefabricated engineered wood truss system for floors and walls ■Stucco textured finish exterior walls and overhangs ■Tamko Heritage architectural shingles (or equivalent) ■Clopay Raised Panel Garage Doors (or equivalent) ■PGT Impact windows second floor ■Hurricane shutters for first floor windows ■Decorative stucco banding per plan ■Decorator selected exterior paint schemes including wall, accent, trim, front door and garage door differentiation ■Decorative pavers for driveways and walk to home ■Exterior gutters per plan ■Exterior hose connection in rear ■Exterior GFI receptacles (one in rear, one in front) ■Coach lights on garages ■Lenox 15 SEER air conditioning system with programmable digital thermostat ■Fully irrigated lot with oversized trees, shrubs and sod per plan Interior ■Knockdown drywall finish on ceilings and walls ■White flat paint on all ceilings and walls, white semi- gloss on all doors and trims ■R-30 ceiling insulation, R4.1 foil on exterior masonry walls ■Colonist, molded, hollow core 2 panel interior doors ■Whirlpool Energy star rated kitchen appliances including refrigerator, dishwasher, microwave, range, washer, and dryer ■Decorative 2 ¼” casing on all swing doors and 3 ¼” baseboards in all rooms ■Lever door hardware on all interior doors ■ITS 17” tile flooring in kitchen, dining, and bathrooms (or equivalent) ■Moen chrome bath fixtures ■Shaw carpet in bedrooms and gathering room ■Wood window sills ■Generous bedroom and linen closets and kitchen pantry closets per plan ■Ventilated “free glide” vinyl coated metal closet shelving ■Minimum 50-gallon electric water heater ■Minimum 150 amp electric service ■Decora rocker light switches throughout home with standard receptacles ■Smoke/carbon detectors per code ■RG6 and CAT 5E data/cable in all bedrooms and living rooms ■Energy rated designer LED lighting fixture package including downlights With respect to the minimum energy efficiency guidelines contained in Attachment F “Energy Efficiency Guidelines Checklist” of the Cottage District RFP, Pulte certifies that we meet and exceed all elements. Pulte Homes Building Specifications Examples of architectural design 1433 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 42 Proposed Project Plan | 4 Public Benefits As outlined above, the Pulte plan provides many public benefits to the community at-large and the Boynton Beach CRA. Each benefit is summarized below. ■Affordable Housing. One of the tantamount benefits is the provision of 40 new affordable homes, consistent with the Palm Beach County Workforce Housing program, with no CRA assistance or reliance on any other public/tax funding source. Units will be sold to households at 80 to 140% area median income (AMI), with the majority sold to households at the 80 to 120% AMI. ■Preservation and Enhancement of Existing Single Family Community. The Pulte plan is designed to be integrated within the existing community and proposes two architectural styles which are complementary to the surrounding neighborhood and consistent with the Heart of Boynton recommendations contained in the BBCRA Plan. ■Walkable Pedestrian Scale Environment. The Pulte plan provides pedestrian enhancements through an interconnecting network of sidewalks and pathways throughout the site. ■Enhancement of Streetscape. The Pulte plan provides on-street parking, decorative streetlights, larger than code street trees and a perimeter sidewalk all of which are designed to enhance the streetscape and provide traffic calming. ■Public Park. The Pulte plan provides a neighborhood park along NE 1st Street that features landscaping, hardscaping, a shade structure, lighting feature and connects to the dual use passive recreation/dry retention area, thereby expanding the recreational opportunities. This park will be deeded to the City of Boynton Beach but may be maintained by the Pulte HOA. ■Bus Shelter. The Pulte plan provides for a bus shelter along NE 1st Street. Pulte will work with the CRA and the Palm Beach County School District to ensure the shelter is utilized. ■Efficient and Sustainable Homes. Pulte’s construction practices maximize efficiency and sustainability which helps with ongoing affordability. ■Increase City of Boynton Beach Tax Base. Increase the City’s tax base by $8,400,440 based projected sales prices. ■No CRA Funding. Pulte’s plan does not require any CRA funding freeing up $385,825 allocated for the Cottage District for other CRA projects and priorities. ■Community Engagement. Utilize our existing local vendor base including vendors located within the CRA boundaries and identify and recruit new vendors to ensure that that local businesses and residents benefit from this development initiative 1434 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 44 SINGLE FAMILY - BROOKWOOD Proposed Project Plan | 4 3 Bedrooms | 2 Bathrooms | 2 Car Garage | 1,447 SQ FT EQUAL HOUSING OPPORTUNITY DEPTHWIDTH SQ FTG Brookwood Floor plans, Elevations and Options will vary from Communityto Community and may not reflect current changes. Dimensions shown are approximate.(c) Copyright 2020 Pulte Homes, Inc. First Floor 144740'-0"50'-8"Zone CMU OPT. OPT. Covered Lanai 4' GARAGE EXT. OPT OPT. TRAY OPT. DROPPED TRAY Shower Walk-In @ Owner's Bath OPT. OPT. TRAY OPT. DROPPED TRAYOPT. ODKEQUAL HOUSING OPPORTUNITY DEPTHWIDTH SQ FTG Brookwood Floor plans, Elevations and Options will vary from Communityto Community and may not reflect current changes. Dimensions shown are approximate.(c) Copyright 2020 Pulte Homes, Inc. First Floor 144740'-0"50'-8"Zone CMU OPT. OPT. Covered Lanai 4' GARAGE EXT. OPT OPT. TRAY OPT. DROPPED TRAY Shower Walk-In @ Owner's Bath OPT. OPT. TRAY OPT. DROPPED TRAYOPT. ODKOption 1435 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 45 SINGLE FAMILY - CEDAR Proposed Project Plan | 4 EQUAL HOUSING OPPORTUNITY DEPTHWIDTH SQ FTG Cedar Floor plans, Elevations and Options will vary from Communityto Community and may not reflect current changes. Dimensions shown are approximate.(c) Copyright 2020 Pulte Homes, Inc. First Floor 1,66240'-0"58'-0"Zone CMU OPT. OPT. Covered Lanai Extension 4' GARAGE EXT. OPT Owner's Bath 2 Kitchen Layout 4 Sliding Glass Door @ Gathering Room OPT. TRAY OPT. DROPPED TRAY OPT. OPT.OPT. ODKOPT. ODKOPT. ODK3 Bedrooms | 2 Bathrooms | 2 Car Garage | 1,662 SQ FT EQUAL HOUSING OPPORTUNITY DEPTHWIDTH SQ FTG Cedar Floor plans, Elevations and Options will vary from Communityto Community and may not reflect current changes. Dimensions shown are approximate.(c) Copyright 2020 Pulte Homes, Inc. First Floor 1,66240'-0"58'-0"Zone CMU OPT. OPT. Covered Lanai Extension 4' GARAGE EXT. OPT Owner's Bath 2 Kitchen Layout 4 Sliding Glass Door @ Gathering Room OPT. TRAY OPT. DROPPED TRAY OPT. OPT.OPT. ODKOPT. ODKOPT. ODKOption 1436 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 46 SINGLE FAMILY - HIGHGATE Proposed Project Plan | 4 EQUAL HOUSING OPPORTUNITY DEPTHWIDTH SQ FTG Highgate Floor plans, Elevations and Options will vary from Communityto Community and may not reflect current changes. Dimensions shown are approximate.(c) Copyright 2020 Pulte Homes, Inc. First Floor 1,85040'-0"60'-0"Zone CMU OPT. Covered Lanai Extension Owner's Bath 2 Kitchen Layout 4 OPT. OPT. OPT. 4' GARAGE EXT. OPT OPT. DROPPED TRAY OPT. TRAY OPT. ODKOPT. ODK4 Bedrooms | 2 Bathrooms | 2 Car Garage | 1,850 SQ FT EQUAL HOUSING OPPORTUNITY DEPTHWIDTH SQ FTG Highgate Floor plans, Elevations and Options will vary from Communityto Community and may not reflect current changes. Dimensions shown are approximate.(c) Copyright 2020 Pulte Homes, Inc. First Floor 1,85040'-0"60'-0"Zone CMU OPT. Covered Lanai Extension Owner's Bath 2 Kitchen Layout 4 OPT. OPT. OPT. 4' GARAGE EXT. OPT OPT. DROPPED TRAY OPT. TRAY OPT. ODKOPT. ODKOption 1437 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 47 Proposed Project Plan | 4 SINGLE FAMILY ATTACHED - GRAYTON AND NAVARRE Proposed plan utilizes 4, 5, and 7 unit configurations GraytonExterior Unit NavarreInterior Unit 1438 Boynton Beach CRA | Cottage District Infill Housing Redevelopment Project | 48 Proposed Project Plan | 4 SINGLE FAMILY ATTACHED - GRAYTON AND NAVARRE 3 Bedrooms | 2.5 Bathrooms | 2 Car Garage | 2 Floors | 1,637 SQ FT 3 Bedrooms | 2.5 Bathrooms | 1 Car Garage | 2 Floors | 1,636 SQ FT FIRST FLOORSECOND FLOORFIRST FLOORSECOND FLOOR1439 © 2022 Microsoft Corporation © 2022 Maxar ©CNES (2022) Distribution Airbus DS NE 4TH AVEN SEACREST BLVD50'51'12'13' 100'110' 60'50'100' 25' 6' S/W 5' S/W 5' S/W 1 2 3 4 5 6 7 8 9 13 141516171819 BUILDING A 6 UNITS BUILDING C 8 UNITS BUILDING B 6 UNITS 20' 14' 50'50' 20' 20' 5' S/W5' S/W 10' R.O.W. DEDICATION10' R.O.W. DEDICATION 10' R.O.W. DEDICATION 5' S/W 12 11 10 DRY DETENTION 0.47 AC. 4 W BOYNTON BEACH BLVD N SEACREST BLVDPROJECT SITE BBCRA - PLAN - CSP-01_R1.DWGCADBenjamin Valente P:\PLACE\NEW PROJECT - Boynton Cottage District\Concepts\BBCRA - PLAN - CSP-01_R1.dwg ---- Plotted: 8/9/2022 5:30:53 PM Saved: 8/9/2022 5:16:40 PMSHEET:NO.DATEDESCRIPTIONBYREVISIONSCSP-01_R1PROPOSED COTTAGE DISTRICTCONCEPTUAL SITE PLAN #01####2022-8-09BPVSDPSCALE: 1" = 30' 0 15 30 60 JOB NO.DATEDRAWN BYCHECK BY2035 Vista Parkway, West Palm Beach, FL 33411Phone No. 866.909.2220 www.wginc.comCert No. 6091 - LB No. 7055LOCATION MAP SITE AREA TOTAL UNITS SINGLE-FAMILY TOWNHOME (MULTI-FAMILY) DENSITY PARKING REQUIRED SINGLE-FAMILY TOWNHOME GUEST 4.7 AC. 39 19 20 8.3 D.U. PER AC. 1 SP. PER BEDROOM 2 SP. PER UNIT 0.15 SP. PER MULTI-FAMILY UNIT 1440 Browning Model Chapman Model Hamden Model Craftsman Coastal Mediterranean (CRA Board Selected Option) 1441 1442 Pulte Home Company, LLC Cottage District Exhibit D consists of the following items: •Proposed site plan showing which plan goes on which lot. Plans have been predesignated to comply with the anti-monotony requirements in the PSA. •Renderings depicting Coastal elevations for the THs and the SF. •Floorplan brochures for each plan •Draft color schemes (one for each TH building and six for the SF units). SF color schemes will be assigned by the builder prior to permitting. •Proposed project schedule •Proposed project budget Both townhome plans, the Cobalt and the Latitude, will be offered for sale at the Palm Beach County Workforce Housing Program Low Income Category. The 2022 sales price for the Low Income category is $189,630. This sales price and household income ranges are adjusted annually by Palm Beach County, typically in July. We will use the sales price in effect at the time of sale. The three single family plans, the Chapman, Browning and Hamden, will be offered for sale at the Palm Beach County Workforce Housing Program Moderate 1 Income Category. The 2022 sales price for the Moderate 1 Income category is $243,810. This sales price and household income ranges are adjusted annually by Palm Beach County, typically in July. We will use the sales price in effect at the time of sale. 1443 © 2022 Microsoft Corporation © 2022 Maxar ©CNES (2022) Distribution Airbus DS NE 4TH AVEN SEACREST BLVD1 2 3 4 1617 BUILDING C 6 UNITS 5 6 7 8 9 10 11 12 13 14 15 DRY DETENTION 0.60 AC. C L C L C L NE 5TH AVENUE NE 1ST STREETR15', TYP. R15', TYP. 6' S/W 5' S/W 5' S/W 10' R.O.W. DEDICATION10' R.O.W. DEDICATION 10' R.O.W. DEDICATION 5' S/W 40' R.O.W. 100'100' 50'52.5' 50' 50' 100' 19' 10' 15' 11.9' 24' 10' 10' 5' LANDSCAPE BUFFER 20' 20' 6.6' 100' 50' 50' 50' 50' 109.6'109.6' 55'50'45'58.6'56.8'40'40'50'50' 20'2' V.G. 5' S/W 5' S/W 20' TYP. 31.8' 27.5' 27.5' 20' TYP. 30.3' 5' S/W 26.9' 20' TYP. BUILDING D 4 UNITS POCKET PARK (0.19 AC.) 20' TYP. 24' 10' 20' 30' 20' ACCESS/MAINTENANCE EASEMENT 2' V.G. 50'50' 1819 BUILDING A 6 UNITS BUILDING B 6 UNITS 85.8' 56.7' CHAPMAN CHAPMAN CHAPMAN CHAPMAN BROWNING BROWNING BROWNING HANDEM CHAPMAN HAMDEN HAMDEN BROWNING BROWNING BROWNING 10.6' 5' 5' 5' 7.5' 7.5' 5'13.6' 11.8' 5' 5'5' 5' 5' 5' 5' 14.3' 5' 5' 5' 5' 5' 5' 5' 5' 5' 5' 25' TYP.25' TYP. 6.6' 21.3' 17' 21.3' 21.3' 18.4' 17.1' 21.3'17' 26.8'21.3' 26' 37.2'30.9'26.6' 5' HAMDEN 5' 5' 26.8' 47.3' 100' 47.3' 10' U.E. 10' U.E.10' U.E. 10' U.E. 10' U.E. 80' 30' 40' 50' 50' 50' 47.3' 120' 50' 50' 25' TYP. 80' 47.3' 50' 10' U.E. 10' U.E. 120' 5' 25' TYP. 11.8' 20.7'10' 12.9' 17' 5' 21.4' 25' TYP. HAMDEN BROWNING CHAPMAN HAMDEN W BOYNTON BEACH BLVD N SEACREST BLVDPROJECT SITE 852100 - PL -LOTFIT_R1.DWGCADRoosevelt Castillo P:\8500\8521.00 Boyton Bch CRA Cottage D\PLAN\CAD\Exhibits\852100 - PL - LOTFIT_R1.dwg ---- Plotted: 1/25/2023 12:27:06 PM Saved: 1/19/2023 12:08:38 PMSHEET:NO.DATEDESCRIPTIONBYREVISIONSEX-1PROPOSED COTTAGE DISTRICTLOT FIT VERSION 18521.002022-10-19BPVSDPJOB NO.DATEDRAWN BYCHECK BYR2035 Vista Parkway, West Palm Beach, FL 33411Phone No. 866.909.2220 www.wginc.comCert No. 6091 - LB No. 7055LOCATION MAP SCALE: 1" = 30' 0 15 30 60 SITE AREA TOTAL UNITS SINGLE-FAMILY TOWNHOME (MULTI-FAMILY) DENSITY UNIT MIX (AS SHOWN) BROWNING CHAPMAN HAMDEN 4.7 AC. 41 19 22 8.7 D.U. PER AC. 19 7 6 6 12022-10-19INITIAL LOT FIT CONCEPTBPVBROWNING MODEL HAMDEN MODEL CHAPMAN MODEL 50.7' 40' 30' 45.3' 58' 40' 1444 2 CAR GARAGE 19'-4" x 19'-9" BEDROOM 3 11'-0" x 10'-6" BEDROOM 2 11'-0" x 10'-6" OWNER'S SUITE 13'-5" x 12'-11" GATHERING ROOM 13'-5" x 18'-2" CAFE 11'-2" x 8'-10" KITCHEN WIC LAUN BATH 2 L L FOYER O. BATH P EQUAL HOUSING OPPORTUNITY DEPTH WIDTH SQ FTG Browning Floor plans, Elevations and Options will vary from Community to Community and may not reflect current changes. Dimensions shown are approximate. (c) Copyright 2021 Pulte Homes, Inc. First Floor 144740'-0" 50'-8" BOYNTON COTTAGE DISTRICT UNDER AIR 1445 Browning1446 COVERED LANAI 13'-0" x 9'-0" CAFE 11'-5" x 13'-2" OWNER'S SUITE 13'-8" x 12'-10" KITCHEN BEDROOM 2 12'-5" x 10'-6" BEDROOM 3 10'-1" x 10'-8" FOYER LAUN P BATH 2 O. BATH 2 CAR GARAGE 20'-1" x 20'-2" L WIC GATHERING ROOM 16'-11" x 16'-8" EQUAL HOUSING OPPORTUNITY DEPTH WIDTH SQ FTG Chapman Floor plans, Elevations and Options will vary from Community to Community and may not reflect current changes. Dimensions shown are approximate. (c) Copyright 2019 Pulte Homes, Inc. First Floor 1,66240'-0" 58'-0" BOYNTON COTTAGE DISTRICT UNDER AIR 1447 Chapman1448 CAFE 11'-0" x 8'-0" KITCHEN STORAGE GATHERING ROOM 17'-8" x 19'-8" PR FOYER 2 CAR GARAGE 20'-2" x 20'-2" P PORCH EQUAL HOUSING OPPORTUNITY DEPTH WIDTH SQ FTG Hamden Floor plans, Elevations and Options will vary from Community to Community and may not reflect current changes. Dimensions shown are approximate. (c) Copyright 2021 Pulte Homes, Inc. First Floor 1,82230'-0" 45'-3" UP LINE OF FLOOR ABOVE BOYNTON COTTAGE DISTRICT UNDER AIR 1449 L LAUNDRY WIC O. BATH OWNER'S SUITE 13'-0" x 14'-4" BEDROOM 2 11'-9" x 10'-9" BA. 2 L BEDROOM 3 10'-5" x 10'-4" EQUAL HOUSING OPPORTUNITY DEPTH WIDTH SQ FTG Hamden Floor plans, Elevations and Options will vary from Community to Community and may not reflect current changes. Dimensions shown are approximate. (c) Copyright 2021 Pulte Homes, Inc. Second Floor 1,82230'-0" 45'-3" DN BOYNTON COTTAGE DISTRICT UNDER AIR 1450 Hamden1451 1st Floor (Stucco or Siding)SW 7006 Extra White (238 239 234)SW 6203 Spare White (228 228 221)SW 7003 Toque White (231 226 218)SW 9136 Lullaby (203 212 212)SW 7672 Knitting Needles (195 193 188)SW 0052 Pearl Gray (203 206 197)Loft SidingSW 7006 Extra White (238 239 234)SW 6203 Spare White (228 228 221)SW 7003 Toque White (231 226 218)SW 9136 Lullaby (203 212 212)SW 7672 Knitting Needles (195 193 188)SW 0052 Pearl Gray (203 206 197)2nd Floor SidingSW 7006 Extra White (238 239 234)SW 6203 Spare White (228 228 221)SW 7003 Toque White (231 226 218)SW 9137 Niebla Azul (182 195 196)SW 7066 Gray Matters (167 168 162)SW 0052 Pearl Gray (203 206 197)Trim SW 7006 Extra White (238 239 234)SW 0052 Pearl Gray (203 206 197)SW 7658 Gray Clouds (183 183 178)SW 7070 Site White (220 222 220)SW 7067 Cityscape (127 129 126)SW 6203 Spare White (228 228 221)Accent SW 7006 Extra White (238 239 234)SW 0052 Pearl Gray (203 206 197)SW 7671 On The Rocks (208 206 200)SW 9138 Stardew (166 178 181)SW 7570 Egret White (223 217 207)SW 6203 Spare White (228 228 221)Front Door SW 6989 Domino (53 51 55) SW 6214 Underseas (124 142 135)SW 7603 Poolhouse (128 149 160)SW 7076 Cyberspace (68 72 77)SW 7624 Slate Tile (96 110 116)SW 6223 Stillwater (74 93 95)Garage DoorSW 7006 Extra White (238 239 234)SW 0052 Pearl Gray (203 206 197)SW 7658 Gray Clouds (183 183 178)SW 7070 Site White (220 222 220)SW 7570 Egret White (223 217 207)SW 6203 Spare White (228 228 221)ShuttersSW 6989 Domino (53 51 55) SW 6214 Underseas (124 142 135)SW 7603 Poolhouse (128 149 160)SW 7076 Cyberspace (68 72 77)SW 7570 Egret White (223 217 207)SW 6223 Stillwater (74 93 95)Tamko Heritage Asphalt ShingleThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyPaver ‐ Tremrom 4x8 BrickGranite Granite Granite Granite Granite GraniteGutters, Windows & FenceLow Gloss White Low Gloss WhiteLow Gloss WhiteLow Gloss White Low Gloss White Low Gloss WhiteCoastal Color Schemes ‐ SFCO1 CO2 CO3 CO4CO5CO61452 BOYNTON COTTAGE DISTRICT UNDER AIR 1453 BOYNTON COTTAGE DISTRICT UNDER AIR 1454 6 Unit A 1455 6 unit A 1st Floor (Stucco or Siding)SW 9161 Dustblu (149 155 160)SW 9137 Niebla Azul (182 195 196)SW 6203 Spare White (228 228 221)SW 6203 Spare White (228 228 221)SW 9137 Niebla Azul (182 195 196)SW 9161 Dustblu (149 155 160)Loft SidingSW 9161 Dustblu (149 155 160)SW 9137 Niebla Azul (182 195 196)SW 6203 Spare White (228 228 221)SW 6203 Spare White (228 228 221)SW 9137 Niebla Azul (182 195 196)SW 9161 Dustblu (149 155 160)2nd Floor SidingSW 6253 Olympus White (212 216 215)SW 9139 Debonair (144 160 166)SW 6203 Spare White (228 228 221)SW 6203 Spare White (228 228 221)SW 9139 Debonair (144 160 166)SW 6253 Olympus White (212 216 215)Trim SW 7005 Pure White (237 236 230)SW 7006 Extra White (238 239 234)SW 0052 Pearl Gray (203 206 197)SW 0052 Pearl Gray (203 206 197)SW 7006 Extra White (238 239 234)SW 7005 Pure White (237 236 230)Accent SW 7005 Pure White (237 236 230)SW 7006 Extra White (238 239 234)SW 0052 Pearl Gray (203 206 197)SW 0052 Pearl Gray (203 206 197)SW 7006 Extra White (238 239 234)SW 7005 Pure White (237 236 230)Front DoorSW 0068 Copen Blue (194 204 196)SW 7076 Cyberspace (68 72 77)SW 6214 Underseas (124 142 135)SW 6214 Underseas (124 142 135)SW 7076 Cyberspace (68 72 77)SW 0068 Copen Blue (194 204 196)Garage Door SW 6253 Olympus White (212 216 215)SW 7006 Extra White (238 239 234)SW 0052 Pearl Gray (203 206 197)SW 0052 Pearl Gray (203 206 197)SW 7006 Extra White (238 239 234)SW 6253 Olympus White (212 216 215)ShuttersSW 0068 Copen Blue (194 204 196)SW 7076 Cyberspace (68 72 77)SW 6214 Underseas (124 142 135)SW 6214 Underseas (124 142 135)SW 7076 Cyberspace (68 72 77)SW 0068 Copen Blue (194 204 196)Shingle Roof Tamko Heritage Thunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyPaver ‐ Tremrom 4x8 BrickGranite Granite Granite Granite Granite GraniteGutters, Windows & FenceLow Gloss White Low Gloss White Low Gloss White Low Gloss White Low Gloss White Low Gloss White** Fence not included in plans, this is just noting color for future ARB approval.Bold DustbluBold DustbluCoastal Niebla Azul Coastal Spare White Coastal Spare White Coastal Niebla Azul1456 6 Unit B 1457 6 unit B 1st Floor (Stucco or Siding)SW 7672 Knitting Needles (195 193 188)SW 7003 Toque White (231 226 218)SW 9136 Lullaby (203 212 212)SW 9136 Lullaby (203 212 212)SW 7003 Toque White (231 226 218)SW 7672 Knitting Needles (195 193 188)Loft SidingSW 7672 Knitting Needles (195 193 188)SW 7003 Toque White (231 226 218)SW 9136 Lullaby (203 212 212)SW 9136 Lullaby (203 212 212)SW 7003 Toque White (231 226 218)SW 7672 Knitting Needles (195 193 188)2nd Floor SidingSW 7066 Gray Matters (167 168 162)SW 7003 Toque White (231 226 218)SW 9137 Niebla Azul (182 195 196)SW 9137 Niebla Azul (182 195 196)SW 7003 Toque White (231 226 218)SW 7066 Gray Matters (167 168 162)Trim SW 7067 Cityscape (127 129 126)SW 7658 Gray Clouds (183 183 178)SW 7070 Site White (220 222 220)SW 7070 Site White (220 222 220)SW 7658 Gray Clouds (183 183 178)SW 7067 Cityscape (127 129 126)Accent SW 7570 Egret White (223 217 207)SW 7671 On The Rocks (208 206 200)SW 9138 Stardew (166 178 181)SW 9138 Stardew (166 178 181)SW 7671 On The Rocks (208 206 200)SW 7570 Egret White (223 217 207)Front DoorSW 7624 Slate Tile (96 110 116)SW 7603 Poolhouse (128 149 160)SW 7076 Cyberspace (68 72 77)SW 7076 Cyberspace (68 72 77)SW 7603 Poolhouse (128 149 160)SW 7624 Slate Tile (96 110 116)Garage Door SW 7570 Egret White (223 217 207)SW 7658 Gray Clouds (183 183 178)SW 7070 Site White (220 222 220)SW 7070 Site White (220 222 220)SW 7658 Gray Clouds (183 183 178)SW 7570 Egret White (223 217 207)ShuttersSW 7570 Egret White (223 217 207)SW 7603 Poolhouse (128 149 160)SW 7076 Cyberspace (68 72 77)SW 7076 Cyberspace (68 72 77)SW 7603 Poolhouse (128 149 160)SW 7570 Egret White (223 217 207)Shingle Roof Tamko Heritage Thunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyThunderstrom GreyPaver ‐ Tremrom 4x8 BrickGranite Granite Granite Granite Granite GraniteGutters, Windows & FenceLow Gloss White Low Gloss White Low Gloss White Low Gloss White Low Gloss White Low Gloss White** Fence not included in plans, this is just noting color for future ARB approval.Coastal Knitting NeedlesCoastal Knitting NeedlesCoastal Toque WhiteCoastal Toque White Coastal LullabyCoastal Lullaby1458 Project Schedule Milestone Date Notes Effective Date Feb-23 All dates below are based on an Effective Date of 2/14/2023 Initial Deposit Due Feb-23 Feasibility Period Ends Jun-23 120 Days Second Deposit Due Jun-23 Submit applications for site plan and zoning Aug-23 Submit within 60 days after Feasibility Period Ends Site plan and zoning applications approved April-24 Assumes an 8-month approval process Seek closing extension due to plat not being approved June-24 12 months from the end of the Feasibility Period Plat approved Aug-24 Assumes a 4-month approval process after site plan approval (non-concurrent review) Land Closing Sept-24 Close within 30 days of plat approval Purchaser shall submit building permits Oct-24 PSA requires by 180 days from Closing, Purchaser planning 60 days after plat issuance Land Development Commences Oct-24 Assumes site work / utility permits obtained during plat review City issuance of the building permits Dec-24 60 days from Purchaser submitting building permits Purchaser shall commence construction Mar-25 PSA requires by 90 days from permit issuance, 5 months after land development commences First Home Completed (CO) Sep-25 6 months from commencing construction Final Home Completed May-26 14 months from commencing construction Purchaser shall obtain CO for the final dwelling unit of the Project Mar-27 Outside date to get last CO 1459 Total Project Cost Townhome Budget Purchase Price/Unit $36,622.222 Land Development Cost/Unit $40,395 Engineering/Pre-acq Costs/Unit $4,847.39 Hard Costs/Unit $31,911.99 Soft Costs/Unit $3,635.54 House Cost/Unit $186,326 Hard Cost/Unit $162,272.80 Soft Costs, Permits & Fees/Unit $24,053.58 Total Budget/Unit $263,344 Single-Family Budget Purchase Price/Unit $91,555.556 Land Development Cost/Unit $51,936 Engineering/Pre-acq Costs/Unit $6,232.36 Hard Costs/Unit $41,029.70 Soft Costs/Unit $4,674.27 House Cost/Unit $195,186 Hard Cost/Unit $167,492.16 Soft Costs, Permits & Fees/Unit $27,693.38 Total Budget/Unit $338,677 Total Project Cost $11,701,742 1460 1461 1462 1475 Centrepark Blvd, Suite 140, West Palm Beach, FL 33401 May 6, 2024 Mr. Timothy Tack, Assistant Director/Ac�ng Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, FL 33435 Dear Timothy, Paragraph 6 of the PDA defines the Closing Date as the earlier of: (i) thirty (30) days after the last of the Closing Conditions has been satisfied, or (ii) twelve (12) months after the end of the Feasibility Period. As we shared at the April CRA meeting, plat approval which is a Closing Condition remains outstanding. We received staff comments two weeks ago and anticipate resubmitting next week. With respect to (ii) above, the relevant date is 6/26/24. Pursuant to Paragraph 6, we are requesting a six (6) month extension to closing, pushing the outside closing date to 12/26/2024. If the plat approval is obtained prior to the outside closing date, closing will be triggered 30 days after. Please let us know if you have any questions. We look forward to continuing to work with you on this exciting and important project. Sincerely, Aimee Craig Carlson, AICP Director of Land Planning and Entitlement 1463 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 OLD BUSINESS AGENDA ITEM 14.D SUBJECT: Update on Status of Contract Negotiations with Candidate for New Executive Director SUMMARY: On November 13, 2023, the CRA Board directed staff to advertise the Executive Director position (Attachment I). The position was advertised on LinkedIn, FRA, IEDC and Indeed. At the December 12, 2023 meeting, the Board approved the following the process, which has been previously utilized by the City of Boynton Beach to fill vacant positions (see Attachment II): Once the advertisement is closed, staff will review each resume. Staff will compile a binder for each Board Member that will contain a minimum qualification form (see Attachment III) and the resume for each candidate. At the next scheduled meeting, the CRA Board will collectively select which candidates are to be interviewed, and staff will schedule interviews with each Board Member separately. After the interviews, the CRA Board will discuss the candidates at a special or regular CRA Board Meeting and select the successful candidate, if any. If a successful candidate is chosen, the Board may direct staff to enter into contract negotiations with the successful candidate. The job listing closed on December 31, 2023, with 64 applicants. Resumes were made available to the CRA Board on January 3, 2024. On February 13, 2024, the CRA Board chose four (4) candidates to interview: Lisa Nicholas, Lauren Pruss, Joan Oliva and Jessica Del Vecchio. Jessica Del Vecchio withdrew her name and the other three (3) candidates were interviewed. On March 21, 2024, the CRA Board chose to move forward with Joan Oliva. The CRA Board Attorney and Board Chair would meet to negotiate the terms of an employment agreement. Upon completion of the negotiations, staff will bring an employment agreement for approval at the next available CRA board meeting. On April 25, 2024, Joan Oliva sent an email withdrawing her name from the Executive Director position (Attachment IV). FISCAL IMPACT: 1464 •Attachment I - BBCRA Executive Job Posting •Attachment II - Executive Staff Hiring Process •Attachment III - Minimum Qualifications Checklist •Attachment IV - 04-25-2024 Email from Ms. Oliva FY 2023-2024 General Fund Budget, Executive Department; Line Item #01-51230-100 CRA BOARD OPTIONS: 1. Direct Staff to Contact Candidate #2, Lisa Nicholas. 2. Re-advertise the position. 3. To be determined by the CRA Board. ATTACHMENTS: Description 1465 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY TITLE: EXECUTIVE DIRECTOR REPORTS TO: BBCRA BOARD SALARY RANGE DEPENDING ON QUALIFICATIONS: $140,000 - $210,000 GENERAL DUTIES: Position manages the day-to-day operations, for the Boynton Beach Community Redevelopment Agency (BBCRA). The Executive Director is a highly responsible position that oversees a wide variety of redevelopment and economic development activities that include fiscal operations, policy making, capital project administration, BBCRA program management, redevelopment plan implementation, property acquisition, business incentives, new business development, business attraction and retention, special business promotion activities as well as the management and maintenance of BBCRA- owned properties. The Position serves as a liaison to businesses and property owners with the overall goal of enhancing the physical and economic character of the districts. Advanced professional work is focused on revitalization and community enhancement within the BBCRA Districts through redevelopment, capital improvement, and branding. EXAMPLES OF ESSENTIAL DUTIES: The examples as listed below are descriptions of essential functions and are not necessarily all inclusive. The omission of an essential function of work does not preclude the BBCRA Board from assigning duties not listed herein. Assigned duties, which are essential function of work not listed herein, are permissible if such functions are a logical assignment to the position. • Carries out the policies established by the five-member BBCRA Board which oversees the redevelopment of the six BBCRA Districts. • Oversees the day-to-day agency operations. • Provides oversight and management of Federal/State Grant programs designed to assist with redevelopment goals within the BBCRA area. • Provides comprehensive knowledge of redevelopment programs and their financing. • Develops potential incentive packages, provides market assessments/impacts, and monitors development trends. 1466 • Writes developer requests for proposals for the purpose of disposing of BBCRA land for redevelopment. • Evaluates and drafts recommended updates and amendments to the BBCRA Plan. • Attend training sessions and conferences pertaining to BBCRA operations. • Prepares and manages annual BBCRA budget and compliance monitoring with F.S. Chapter 163 Part III • Assists with the development of capital projects included in the 2016 Boynton Beach CRA Redevelopment Plan; tracks the economic impact of those projects on Redevelopment activities City-wide. • Makes public presentations to the BBCRA Board, City Commission and other public/private organizations regarding BBCRA redevelopment, BBCRA business, initiatives, and focus. • Acts as a technical advisor to the Community Redevelopment Agency Board (City Commission) and BBCRA Advisory Board. • Prepares and manages BBCRA budget; identifies and accesses funding sources; maintains relationships with funding sources; administers contractual agreements with other governmental agencies. • Oversees the management and administration of capital projects within the BBCRA districts. • Promotes and disseminates information about BBCRA activities to stakeholders through media, print and social media; attends and conducts various meeting and presentations. • Negotiates and administers contracts, incentives, developer agreements, and projects; administers same. • Assist private developers and business owners with: site planning, zoning, platting, variances, incentives, and other regulatory issues associated with redevelopment and economic development in the BBCRA. • Attends monthly BBCRA Board meetings and City commission meetings in order to keep abreast of activities and programs, and to provide information and/or answer questions as necessary. • Represents the BBCRA at community meetings regarding BBCRA matters within the scope of the BBCRA activities. • Oversees hiring of BBCRA employees, consultants, and experts as provided for in • the annual budget • Supervises BBCRA employees, consultants, and special projects. • Other duties as assigned. KNOWLEDGE, SKILLS AND ABILITIES: • Knowledge of public and private financing and various debt financing mechanisms. • Knowledge of professional services contracting, bidding procedures, and contract administration. • Knowledge of the principles of budget administration and financial forecasting. • Knowledge of business correspondence and report writing. • Knowledge of the basic functions of Community Redevelopment Agencies. 1467 • Knowledge and experience with Public-Private Partnership developer negotiations and agreements. • Knowledge of the principles, techniques and objectives of a Community Development Block Grant program and HUD housing programs. • Knowledge of economic development trends and techniques and the functions, operations and relationships among local, state, and federal agencies related to redevelopment and housing policies. • Ability to communicate clearly and concisely, orally and in writing. • Ability to effectively analyze issues and problems and identify optimum solutions. • Ability to plan, organize, and implement duties and responsibilities defined by desired outcomes and objectives. • Ability to gain cooperation through discussions and persuasion. • Ability to use good conflict resolution skills. • Ability to manage complex problems with multiple stakeholders. • Ability to interpret and apply the principles, practices, and procedures specified in Florida redevelopment law. • Ability to interpret and apply applicable Federal, State, and local laws, rules, and regulations related to redevelopment programs. • Ability to use Windows-based word processing, electronic mail, spreadsheet, and database software. • An understanding of business attraction including lease negotiations in real estate. • Ability to take the initiative to complete the duties of the position without the need of direct supervision. • Ability to establish and maintain effective working relationships. • Ability to serve the public and fellow employees with honesty and integrity in full accord with the letter and spirit of all City ethics and conflicts of interest policies. A strong understanding of ethical behavior is required. • Ability to establish and maintain effective working relationships with the general public, co-workers, City officials and members of diverse cultural and linguistic backgrounds regardless of race, religion, age, sex, disability or political affiliation. • Ability to maintain regular and punctual attendance. MINIMUM QUALIFICATIONS: Bachelor’s degree from an accredited college or university with a major in business, urban planning, finance, construction management or related field and/or have a minimum of five (5) years’ experience in the public/private sector in a progressive city in real estate development, planning, project management, economic development and/or any equivalent combination of training and experience. Master’s degree preferred. Affiliations or membership with trade associations exemplifying additional educa tion is a plus, such as Florida Planning Association, Urban Land Institute, Florida Redevelopment Association, International Council of Shopping Centers, NAIOP, IEDC, or other related associations. Professional certifications are a plus. A comparable amount of training and experience may be substituted for the minimum qualifications. 1468 PHYSICAL REQUIREMENTS: Must have the use of sensory skills in order to effectively communicate and interact with other employees and the public through the use of the telephone and personal contact as normally defined by the ability to see, read, talk, hear, handle or feel objec ts and controls. Physical capability to effectively use and operate various items of office related equipment, such as, but not limited to a, personal computer, calculator, copier, and fax machine. SPECIAL REQUIREMENTS Possession of a valid, appropriate driver's license and an acceptable driving record. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Please email all resumes to Vicki Hill, Finance Director hillv@bbfl.us 1469 1470 1471 MINIMUM QUALIFICATIONS - EXECUTIVE DIRECTOR POSITION Candidate Name: Bachelor's degree from an accredited college or university Business Urban Planning Finance Construction Management Or Related Field Minimum of five (5) years' experience in the public/private sector in a progressive city Real estate development Planning Project Management Economic Development And/or any equivalent combination of training and experience Master's Degree Preferred Affiliations or membership with trade associations exemplifying additional education is a plus Florida Planning Association Urban Land Institute Florida Redevelopment Association International Council of Shopping Centers NAIOP IEDC Or other related associations _______________________________ Professional Certifications 1472 1 Curfman, Vicki Subject:Todays meeting External Email Mayor and Kathryn, After much inner debate, I have decided not to pursue the ED job in Boynton Beach. The Board here in Lake Worth Beach offered me a renewed, multi-year contract and a substanial raise. After taking into consideration the dialogue at the BB Commission meeting where I was ranked as the top candidate and the consternation over salary, I believe negotiations would not have been fruitful. In fact, I suspect it could create more controversy than needed. The City of Boynton Beach CRA has a fabulous team and leadership and I wish you all nothing but the best in the future. The decision is bittersweet as I really feel, together, we could accomplish more good things for the City and its residents. However, I know you are in good hands and if I can ever be of help in the future, please do not hesitate in contacting me. Thank you so much for your patience and efforts on my behalf. Joan Oliva 1473 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.A SUBJECT: Discussion and Consideration of the Purchase of 1017 North Railroad Avenue SUMMARY: CRA Staff actively pursues the purchase of properties within the BBCRA District in order to spur redevelopment opportunities in accordance with the 2016 Boynton Beach Community Redevelopment Plan. The property located at 1017 North Railroad Avenue is located within the Heart of Boynton District (Attachment I & II). The property is approximately 5,906.736 square feet (0.1356 acres) and zoned C2- Neighborhood Commercial. The future development would be general commercial with a maximum height of 45'. The property currently has a structure located on it which has been sited with a code violation. The code violation is being addressed by the current owner and will be satisfied prior to the sale of the property. The seller has provided an executed Purchase and Sale Agreement in the amount of $290,000.00 (Attachment III). The property was appraised on March 7, 2024, for $206,000.00 (see Attachment IV). Attached for the Board's review is a comparable worksheet of CRA acquisitions in the Heart of Boynton District which provides pricing per sq. ft. (Attachment V). This item is being brought before the Board for discussion on the potential purchase of the property. Due diligence would be performed as part of the purchasing process. FISCAL IMPACT: Purchase Price to be determined by the Board. FY 2023-2024 Budget, Project Fund, Line Item 02-58200-401 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan - Heart of Boynton District CRA BOARD OPTIONS: 1. Approve the purchase of 1017 North Railroad Avenue in the amount of $290,000.00 and allow the Chair to execute the Purchase and Sale Agreement. 2. Do not approve the purchase of 1017 North Railroad Avenue. 3. Alternative direction as provided by the CRA Board. 1474 •Attachment I - 1017 N. Railroad Ave - Location Map •Attachment II - Heart of Boynton District •Attachment III - Purchase and Sale Agreement-1017 N Railroad Avenue-Nina Clark •Attachment IV - Appraisal - 1017 N Railroad Ave •Attachment V - HOB Comparables-1017 N Railroad & 225 NE 9th Ave. ATTACHMENTS: Description 1475 1476 105 Heart of Boynton District Introduction Planning Challenges Planning Considerations The Vision Recommendations 1477 106D.District PlansIntroduction The Heart of Boynton District is a 380-acre neighborhood developed predominantly with single-family homes. The neighborhood has several parks, two public schools and numerous churches. Unfortunately, it has been the victim of disinvestment over the last 50 years. The two Census blocks of Tract 61 which encompasses this District have the median household income of $20,848, the lowest in the City. To counter the decline of the neighborhood, in 2001 the CRA and City adopted the Heart of Boynton Community Redevelopment Plan. The Plan was updated in 2014 to reflect the achievements of the original plan and add new projects to reflect the current market conditions. A number of recommendations of the original CRA Plan have been implemented, including: • The demolition of the Cherry Hill public housing project • The redevelopment of the Boynton Terrace site – Ocean Breeze West – into 21 single- family homes • Redevelopment of Wilson Park and into Carolyn Sims Community Center • Expansion of the Palmetto Greens Park • Redevelopment of Sara Sims Park – Master Plan created, property acquired • Streetscape Improvements on Seacrest Boulevard • Redevelopment of Martin Luther King, Jr. Boulevard – Property acquired and Family Dollar developed • Development of new housing – 60 new single family homes developed In partnership with nonprofits, the City and CRA. The Heart of Boynton District is bounded by the C. Stanley Weaver (C-Canal) canal to the north, I-95 to the west, N.E. 3rd Avenue to the south and the FEC rail line to the east. The area is within walking distance of the Cultural and Downtown Districts. A major arterial road—Seacrest Boulevard—runs through the neighborhood north/south. Martin Luther King, Jr. Boulevard, once lined with locally-owned businesses, runs east/west. There are two public elementary schools in the neighborhood, Poinciana and Galaxy. Both schools are STEM schools (Science, Technology, Engineering and Math). There are a number of parks and special use areas within the neighborhood, such as, Carolyn Sims Community Center, Galaxy Park and Scrub and Sara Sims Park. 1478 107 Boynton Beach Blvd.FEC RailroadSeacrest Blvd.MLK, Jr. Blvd. NE 3rd Ave. NNW 3rd St.NW 6th Ave. NE 11th Ave.NE 3rd St.NE 9th Ave. Figure 57: Heart of Boynton District Location Map 1479 108D.District PlansFigure 58: Example of District Planning Challenges Planning Challenges The Heart of Boynton area suffers from an aging and poorly maintained housing stock. The CRA and City, in partnership with local non-profits, continue to develop single-family homes, but there is a need for quality affordable multi-family rental housing. The problem is that—given low median household incomes—it cost more to build even modest apartments than many of the families can afford. This gap will has to be filled through some form of a subsidy. Another major deterrent to private investment is the visible blight and crime. There are still a number of small convenience stores that allow loitering and illegal activities for all to see, discouraging people to buy homes or invest in businesses within the area. The District is comprised of small parcels platted in the 1920’s – 1930’s, during Florida’s land boom. The parcels are owned by many different people making assembly of a developable site very difficult and expensive. Moreover, many owners have an unrealistic sense of the value of their property. Over the years, the neighborhood has lost most of their retailers and service providers. There is no full service grocery store and only one take- out restaurant. The majority of commercial use is represented by convenience stores. A new Family Dollar store at the corner of Martin Luther King, Jr. Boulevard and Seacrest Boulevard has been a welcome addition, but there is a need for more retail services. The neighborhood is bifurcated by a four- lane Seacrest Boulevard, which has only one signalized pedestrian crossing even though there are two elementary schools in the neighborhood. The width of the road and drive aisles encourage speeding through the neighborhood; clearly, the road is not presently designed at a neighborhood scale. Both Seacrest Boulevard and Martin Luther King, Jr. Boulevard have older, ill-maintained power poles with overhead utilities, causing a “visual blight.” 1480 109 Planning Considerations Several factors were considered in determining the land use designations for the Heart of Boynton District. A future commuter rail station for the planned Tri- Rail Coastal Link service, which will serve the South Florida metropolitan region, is planned for downtown at N.E. 4th between Ocean Avenue and Boynton Beach Boulevard. To improve land development patterns in advance of station development, the City adopted a Downtown Transit Oriented Development District (DTOD), covering a ½ mile radius around the station’s location, including a portion of the Heart of Boynton. The DTOD district regulations support increased intensity of development through a 25% density bonus. A second consideration is the Transportation Concurrency Exception Area (TCEA) which, in addition to the residential exception area applicable east of I-95, exempts all development from the Palm Beach County traffic concurrency requirements thus allowing denser development. The Plan recommends increasing density within the area where the TCEA and TOD designations overlap. However, because this District is a low- scale neighborhood, no increase in height over 45’ is recommended. Historic District. There are a significant number of historic cottages located along both sides of NE 3rd Avenue and the south side of NE 4th Avenue between N. Seacrest Boulevard and NE 1st Street. In order to protect these cottages while allowing commercial redevelopment of the south side of NE 3rd Avenue, the Plan recommends that: • The historic cottages from the south side of NE 3rd Avenue be relocated to the vacant lots on the north side of NE 3rd Avenue. • On completion of the relocations, a historic district, tentatively called Shepard Funk Addition Historic Cottage District, be created within the block enclosed by N. Seacrest Boulevard, NE 1st Street, NE 3rd Avenue, and NE 4th Avenue. Figure 59: Historically significant cottages in the HOB 1481 110D.District PlansVision The Heart of Boynton area will become a model neighborhood, with its unique character and history preserved. The vision includes enriching the original vernacular architecture of the neighborhood, investing in housing and commercial uses, and connecting both through the pedestrian and vehicular networks. Recommendations: Streetscape Streetscape enhancements are recommended for the Seacrest Blvd and Martin Luther King Jr. Blvd. The space for these enhancements may be obtained through either right-of-way dedications or public easements. The enhancements should include: • Implement a Complete Streets program for Seacrest Boulevard and ML K Jr. Boulevard to accommodate bike lanes and bike racks, widening of sidewalks, decorative street lights, street furniture, and on-street parking. • Marking of major intersections with materials such as pavers, paint, etc. • Enhanced median landscaping • Bus shelters (will be required as part of new construction) • Additional signalized pedestrian crossings (including mid-block) along Seacrest BoulevardAddition of canopy street trees • Creation of a Pedestrian Zone adjacent to the right-of-ways that is inviting, safe and includes: • Minimum 8’ wide clear sidewalk • Decorative light poles at both the vehicular and pedestrian scales • Require installation of canopy trees that provide immediate shading at time of construction • Undergrounding of overhead utilities • Creation of a greenway to connect the greenway proposed along NW 1st Avenue, Sara Sims Park, and Wilson Park per the Connectivity Plan • Creation of an eco-trail to connect the existing scrub and linear parks per the Connectivity Plan 1482 111 Figure 60: Seacrest Blvd Streetscape Area Figure 61: MLK JR. Blvd. Streetscape Area Figure 62: MLK JR. Blvd. Street Section 1483 112D.District PlansRecommendations: Land Use The existing land use designations within the Heart of Boynton District are: • Low Density Residential – 5 units per acre (all of this land use designation is concentrated on the west side of Seacrest Boulevard. • Medium Density Residential – 10 units per acre (this land use designation is concentrated on the east side of Seacrest Boulevard) • High Density Residential – 11 units per acre (currently over the Ocean Breeze West development and along W. Seacrest from N.W. 8th to N.W. 9th) • Mixed-Use – 40 units per acre (this land use designation is placed on the CRA-owned Ocean Breeze East block and on CRA-owned property along MLK, Jr. Boulevard) • Local Retail Commercial, General Commercial, Industrial, Recreational, and Public & Private Governmental/Institutional Below is a table of the proposed land use and zoning designations that will apply within the Federal Highway Corridor District: Table 7: Recommended Future Land Use (FLU) Classifications within the Heart of Boynton District *Properties located within the TOD may recieve a 25% density bonus * 1484 113 Boynton Beach Blvd.Seacrest Blvd.MLK Jr. Blvd.NW 3rd St.NE 3rd St.NW 6th Ave. NE 9th Ave. N LDR MUM MUL MDR HDR GC I R PBG/I Figure 63: Recommended Land Use for the Heart of Boynton District 1485 114D.District PlansRecommendations: Urban Design • There are three architectural styles of historic structures in the Heart of Boynton: Mission, Frame Vernacular, and Mediterranean Revival. When building in this District, new development shall attempt to utilize one of these architectural styles. • A Historic Cottage District should be considered adjacent to the proposed Cottage District; where feasible, historically contributing cottages in the area shall be relocated in the Historic Cottage District. • Commercial buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall maximize the amount of glazing. • Residential buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall be designed to have pedestrian access from the main road and have front door facing the main road. • All buildings along MLK Jr., Boulevard and/or Seacrest Boulevard shall be set back to allow for a pedestrian zone. • Approximately 75% of the lot frontage must be occupied by structure and be adjacent to the pedestrian zone. • Buildings fronting MLK Jr., Boulevard shall be a maximum of two story and stepped back to continue to the maximum allowed height in the designated Zoning District. • Parking shall be located to the rear or side of the buildings • Curb cuts shall be permitted on Boynton Beach Blvd only when access is not possible from the rear or side. • When adjacent to commercial uses, single-family areas shall be protected through the use of landscape buffers and/or walls as appropriate. Figure 64: Heart of Boynton Projects 1486 115 Sara Sims Park Expansion Working with residents of the community, the CRA and its consultant created a master plan for the expansion and improvement of Sara Sims Park. The CRA has also purchased seven properties and deeded them to the City in preparation for the eventual expansion of the park. Staff will review the feasibility of converting a portion of Sara Sims Park Master Plan, along the western boundary, from Recreational Land Use to Single Family. This process shall include a public meeting, the Parks and Recreation Board review and recommendation, and CIty Commision approval. Ocean Breeze East The CRA owns 4.5 acres of vacant land east of Seacrest Boulevard between N.E. 6th and 7th Avenues. The CRA is seeking a private development partner to build a multi-family project on the site. Cottage District The CRA owns approximately 5 acres on the block between N.E. 4th and 5th Avenue. The CRA’s goal for this site is to attract a private development partner to build single-family for-sale homes in the style of the surrounding historic cottages. MLK Commercial Leveraging CRA-owned land and economic development grants, the CRA was able to bring a Family Dollar store to the Martin Luther King, Jr. Boulevard corridor in 2015. The CRA owns additional land on the corridor and continues to work with developers to attract new and needed neighborhood retail. MLK Multi Family Utilizing CRA-owned land, the CRA is seeking to attract a private development partner to build a multi- family development along the Martin Luther King, Jr. Boulevard corridor. The development may include commercial uses. Figure 65: Sara Sims Expansion Figure 66: Ocean Breeze East Figure 67: Cottage District 1487 116D.District PlansFigure 68: Example of a Commercial Project on MLK Jr. Blvd. 1488 117 Figure 69: Example of Multi Family Project on MLK Jr. Blvd. 1489 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 PURCHASE AND SALE AGREEMENT This Purchase and Sale Agreement (hereinafter “Agreement”) is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes (hereinafter “PURCHASER”) and Nina Clark, a single woman (hereinafter “SELLER”). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to PURCHASER and PURCHASER agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located in Palm Beach County, Florida (the “Properties”) and more particularly described as follows: PCN 08-43-45-21-04-000-0011 Property Address: 1017 N. Railroad Avenue, Boynton Beach, FL 33435 Legal Description will be verified before closing: Lot 1, less the north 50 feet, ROBERT WELLS SUBDIVISION, Plat Book 11, Page 66, Palm Beach County, FL 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Two Hundred Forty-Five Thousand Dollars ($245,000.00), payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Money Deposit. Within five (5) Business Days after the execution of the Purchase Agreement by both parties, PURCHASER shall deliver to Lewis, Longman & Walker, PA (“Escrow Agent”) a deposit in the amount of Five Thousand Dollars ($5,000.00) (the “Deposit”). 3.2 Application/Disbursement of Deposit. The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the PURCHASER shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the PURCHASER. If this Agreement is terminated due to a default, pu rsuant to Section 12, the 1490 Purchase and Sale Agreement Page 2 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 Deposit shall be delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party shall have such additional rights, if any, as are provided in Section 12. 3.3 Escrow Agent. PURCHASER and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to PURCHASER and SELLER, unless the misdelivery is due to Escrow Agent’s willful breach of this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney’s fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. EFFECTIVE DATE. The date of this Agreement (the “Effective Date”) shall be the date when the last one of the SELLER and PURCHASER has signed this Agreement. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before July 2, 2024 (the “Closing”), unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to PURCHASER, by Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the “Permitted Exceptions”): (a) general real estate taxes and special assessments for the year of Closing and subsequent years not yet due and payable; (b) covenants, conditions, easements, dedications, rights -of-way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which PURCHASER fails to object, or which PURCHASER agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. 7. FEASIBILITY PERIOD. The PURCHASER, and its designees shall have sixty (60) days from the Effective Date of this Agreement (“Feasibility Period”), at PURCHASER’s expense, to make inquiries to determine if the Property is suitable for its intended use and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all physical tests, inspections, valuation appraisals and investigations of the Property, including but not limited to Phase I and Phase II investigations, which PURCHASER may deem necessary. During this Feasibility Period, PURCHASER may elect, in PURCHASER’s sole and absolute discretion, to terminate this contract and receive back all deposits hereunder. If PURCHASER elects to 1491 Purchase and Sale Agreement Page 3 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 terminate this Agreement in accordance with this Section, PURCHASER shall: (i) leave the Property in substantially the condition existing on th e Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by PURCHASER’s testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the PURCHASER’s testing and investigation. PURCHASER hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney’s fees, for nonpayment for services rendered to PURCHASER (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER’s investigation of the Property. However, PURCHASER’s indemnification obligations shall not exceed its statutory limits as provided within Section 768.28, Florida Statutes, and PURCHASER does not waive its sovereign immunity rights. 7.1 Title Review. Within twenty (20) days of the Effective Date, PURCHASER shall obtain, at the PURCHASER’s expense, from a Title Company chosen by PURCHASER (hereinafter “Title Company”), a Title Commitment covering the Property and proposing to insure PURCHASER in the amount of the Purchase Price subject only to the Permitted Exceptions, together with complete and legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title Commitment. Any and all assessments, outstanding utility charges, liens and other matters not constituting Permitted Exceptions shall be paid by Seller prior to or at closing from Seller’s proceeds. PURCHASER shall examine the Title Commitment and deliver written notice to SELLER no later than thirty (30) days after the Effective Date notifying SELLER of any objections PURCHASER has to the condition of title (hereinafter “Title Objections”). If PURCHASER fails to deliver the Title Objections to SELLER within the aforesaid review period, title shall be deemed accepted subject to the conditions set forth in the Title Commitment. If PURCHASER timely delivers the Title Objections, then SELLER shall have thirty (30) days to diligently and in good fa ith undertake all necessary activities to cure and remove the Title Objections (hereinafter “Cure Period”). In the event that SELLER is unable to cure and remove, or cause to be cured and removed, the Title Objections within the Cure Period, to the satisfaction of PURCHASER, then PURCHASER, in PURCHASER’s sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the title as it then is but using such portion of the Purchase Price as may be necessary to pay and satisfy any mortgages, outstanding utility charges, delinquent property taxes and/or code enforcement and contractors' liens or other recorded claims of lien upon the property, or (iii) canceling a nd terminating this Agreement, in which case, the Deposit shall be returned to PURCHASER and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. 1492 Purchase and Sale Agreement Page 4 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 Notwithstanding the above, the PURCHASER accepts the responsibility of Code Lien #____________________. Prior to the Closing, PURCHASER shall have the right to cause the Title Company to issue an updated Title Commitment (“Title Update”) covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, PURCHASER shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.2. Survey Review. PURCHASER, at PURCHASER’s expense, shall obtain a current boundary survey (the “Survey”) of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.1 concerning title objections. 7.3 SELLER Deliveries. SELLER shall deliver to PURCHASER the following documents and instruments within ten (10) days of the Effective Date of this Agreement, except as specifically indicated: 7.3.1 Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER’s possession or control with respect to the physical condition or operation of the Property, if any. 7.3.2 Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals"), which are material to the use or operation of the Property, if any. 7.3.3 Prior to the Closing Date, SELLER shall execute and deliver to PURCHASER any and all documents and instruments required by PURCHASER, in PURCHASER’s sole and absolute discretion, which: (i) effectuate the transfer to PURCHASER of those Governmental Approvals, or portions thereof which are applicable to the Property, that PURCHASER desires to have assigned to it, and/or (ii) cause the Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Appro vals 1493 Purchase and Sale Agreement Page 5 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 (including, but not limited to, any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. 8. CONDITIONS TO CLOSING. PURCHASER shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the “Conditions to Closing”) are either fulfilled or waived by PURCHASER in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2. Condition of Property. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted . 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by PURCHASER. 8.4. Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occupancy. The property shall be conveyed to the PURCHASER at time of closing unoccupied. 9. CLOSING DOCUMENTS. The PURCHASER shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the SELLER’S Title Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered to PURCHASER the following documents and instruments: 9.1. Deed. A Warranty Deed (the “Deed”) conveying to PURCHASER valid, good, marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2 Seller’s Affidavits. SELLER shall furnish to PURCHASER an owner’s affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to PURCHASER a non- foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its 1494 Purchase and Sale Agreement Page 6 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between PURCHASER and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which PURCHASER shall also execute and deliver at Closing. 9.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as PURCHASER or the Title Company may reasonably request that SELLER execute and deliver, and any o ther documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10. PRORATIONS, CLOSING COSTS AND CLOSING PROCEDURES. 10.1. Prorations. Assessments, rents, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. PURCHASER shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be in creased or decreased as may be required by prorations to be made through the day prior to Closing. Advance rent and security deposits, if any, will be credited to PURCHASER. Taxes shall be prorated based upon the current year’s tax with due allowance made for maximum allowable discount. 10.2 Ad Valorem Taxes. PURCHASER and SELLER shall comply with Section 196.295, Florida Statutes, with respect to the payment of prorated ad valorem taxes for the year of closing into escrow with the Palm Beach County Tax Collector’s Office. In the event that, following the Closing, the actual amount of assessed real property tax on the Property for the current year is higher than any estimate of such tax used for purposes of the Closing, the parties shall re-prorate any amounts paid or credited based on such estimate as if paid in November. This shall survive the Closing. 10.3. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by PURCHASER. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. 10.4. Closing Costs. PURCHASER shall be responsible for recording the deed 1495 Purchase and Sale Agreement Page 7 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 and half of all general closing expenses (settlement fee, courier fees, overn ight package, etc.). SELLER is responsible for documentary stamps on the deed and half of all general closing expenses and their own legal fees. All other costs of closing shall be borne by PURCHASER. 10.5 Closing Procedure. PURCHASER shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and PURCHASER (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a “marked-up” Title Commitment to PURCHASER, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.6 Existing Mortgages and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11. REPRESENTATIONS, COVENANTS AND WARRANTIES. To induce PURCHASER to enter into this Agreement, SELLER makes the following representations, all of which, to the best of its knowledge, in all material respects and except as otherwise provided in this Agreement (i) are now true, and (ii) shall be true as of the date of the Closing unless SELLER receives information to the contrary, and (iii) shall survive the Closing. In that event, PURCHASER shall be provided immediate notice as to the change to the following representations: 11.1 At all times from the Effective Date until prior to Closing, SELLER shall keep the Property (whether before or after the date of Closing) free and clear of any mechanic's or materialmen's liens for work or materials furnished to or contracted for, by or on behalf of SELLER prior to the Closing, and SELLER shall indemnify, defend and hold PURCHASER harmless from and against all expense and liability in connection therewith (including, without limitation, court costs and reasonable attorney's fees). 11.2 SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations hereunder in this Agreement. SELLER does not and will not conflict with or result in the breach of any condition or provision, or constitute a default under, or result in the creation or imposition of any lien, charge, or encumbrance upon any of the Property or assets of the SELLER by reason of the terms of any contract, mortgage, lien, lease, agreement, indenture, instrument or judgment to which the SELLER is a party of which is or purports to be 1496 Purchase and Sale Agreement Page 8 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 binding upon the SELLER or which affects the SELLER; no action by any federal, state or municipal or other governmental department, commission, board, bureau or instrumentality is necessary to make this Agreement a valid instrument binding upon the SELLER in accordance with its terms. 11.4 SELLER represents that SELLER will not, between the date of this Agreement and the Closing, without PURCHASER'S prior written consent, which consent shall not be unreasonably withheld or delayed, except in the ordinary course of business, create any encumbrances on the Property. For purposes of this provision the term "encumbrances" shall mean any liens, claims, options, or other encumbrances, encroachments, rights-of-way, leases, easements, covenants, conditions or restrictions. Additionally, SELLER represents that SELLER will not, between the date of this Agreement, and the Closing take any action to terminate or materially, amend or alter any existing leases presently in existence, without the prior consent of PURCHASER, which consent shall not be unreasonably withheld or delayed. 11.5 SELLER represents that there are no parties other than SELLER in possession of the Property or any portion of the Property as a lessee. 11.6 SELLER shall not list or offer the Property for sale or solicit or negotiate offers to purchase the Property while this Agreement is in effect. SELLER shall use its best efforts to maintain the Property in its present condition so as to ensure that it shall remain substantially in the same condition from the conclusion of the Feasibility Period to the Closing Date. 11.7 SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Property by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Property. 11.8 SELLER represents that it has no actual knowledge nor has it received any notice that the Property has been, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used herein, the term "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Department of Transportation, and/or any other state or local governmental agency now or hereafter authorized to regulate materials and substances in the environment (collectively "Governmental Authority(ies)"). 1497 Purchase and Sale Agreement Page 9 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 11.9 SELLER represents to PURCHASER that the Property is not subject to any deed restrictions or declaration of restrictions running with the Property which would affect the use of the Property except those constituting Permitted Exceptions as defined above. 11.10 Between the date of this Agreement and the date of closing, SELLER will not file any application for a change of the present zoning classification of the Property. 11.11 Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER’S capacity and all requisite action has been taken to make this Agreement valid a nd binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.12 Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 11.13 Additional Warranties and Representations of SELLER. As a material inducement to PURCHASER entering into this Agreement, SELLER, to the best of SELLER’S information and belief, hereby represents and warrants the following: 11.13.1 There are no pending applications, permits, petitions, contracts, approvals, or other proceedings with any governmental or quasi-governmental authority, including but not limited to, PURCHASER, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 11.13.2 There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to PURCHASER herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 11.13.3 To the best of SELLER’S knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances, regulations, licenses, permits and authorizations, including, without limitation, applicable zoning and environmental laws and regulations. 1498 Purchase and Sale Agreement Page 10 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 12. DEFAULT. 12.1. PURCHASER’s Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of PURCHASER, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither PURCHASER nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that PURCHASER shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under PURCHASER, but not otherwise. PURCHASER and SELLER acknowledge that if PURCHASER defaults, SELLER will suffer damages in an amount which cannot be ascertained with reasonable certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent most closely approximates the amount necessary to compensate SELLER. PURCHASER and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. 12.2. Seller’s Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER’S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, PURCHASER may, at its option: (1) declare SELLER in default under this Agreement by notice delivered to SELLER, in which event PURCHASER may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder, or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient d etail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, th e cure period shall only be three (3) business days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this section shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: 1499 Purchase and Sale Agreement Page 11 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 If to Seller: Name:__________________________________ Address:________________________________ Address:________________________________ Phone:__________________________________ If to Purchaser: Timothy Tack, Acting Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, FL 33435 With a copy to: Kenneth Dodge Lewis, Longman & Walker, PA 360 South Rosemary Avenue Suite 1100 West Palm Beach, FL 33401 14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of PURCHASER, which shall not be unreasonably withheld. PURCHASER shall have the right to assign this Agreement to the City of Boynton Beach (the “City”) without the prior consent of SELLER and the PURCHASER shall be released from any further obligations and liabilities under this Agreement. The PURCHASER may not assign this Agreement to any other party without the prior written approval of SELLER, which shall not unreasonably withheld. If PURCHASER has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. 15. BROKER FEES. The SELLER hereby states that they have dealt with a real estate broker, Angie Gray Realtor, Petty Capital Realty, License #3313193, in connection with the transaction contemplated by this Agreement and SELLER is liable for a sales commission. SELLER shall indemnify, defend and hold harmless the PURCHASER from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney’s fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 1500 Purchase and Sale Agreement Page 12 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 16. ENVIRONMENTAL CONDITIONS. 16.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by-product as defined or regulated by environmental laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.1 As a material inducement to PURCHASER entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER’S knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER’S property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity’s knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. 17. PUBLIC RECORDS. PURCHASER is a public agency subject to Chapter 119, Florida Statutes. The SELLER is hereby notified that the PURCHASER is required by law, pursuant to Chapter 119, to maintain and disclose upon request all records deemed public under the statute including this Agreement and some or all of the documents necessary to consummate the transaction set forth herein. To the extent that any litigation should be instituted by SELLER, either directly or as a third party, to prevent or prohibit PURCHASER from disclosing or providing documents involving this Agreement or the transaction set forth in the Agreement pursuant to a public records request submitted under Chapter 119, SELLER agrees that PURCHASER may either: 1) defend the claim up to and including final judgment, or 2) interplead the challenged documents into the court. In either event, SELLER agrees to pay PURCHASER’s reasonable attorneys’ fees and costs, both trial and appellate. 1501 Purchase and Sale Agreement Page 13 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 18. MISCELLANEOUS. 18.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by the Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit , in and for Palm Beach County, Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States District Court for the Southern District of Florida. 18.2. Computation of Time. Any reference herein to time periods which are not measured in business days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the next full business day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 18.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 18.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 1502 Purchase and Sale Agreement Page 14 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 18.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions of this Section shall apply to any amendment of this Agreement. 18.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement and initialed by PURCHASER and SELLER shall control all printed provisions in conflict therewith. 18.7 Waiver of Jury Trial. As an inducement to PURCHASER agreeing to enter into this Agreement, PURCHASER and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 18.8. Attorneys Fees and Costs. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys’ fees and costs, including those at the appellate level, shall be awarded to the prevailing party. 18.9 Binding Authority. Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the PURCHASER and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 18.10 Recording. This Agreement may not be recorded in the Public Records of Palm Beach County, Florida without the prior approval of both parties. 18.11 Survival. The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER’S Property Deed and PURCHASER’s possession of the Property. 18.12 SELLER Attorneys’ Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys’ fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. SIGNATURES ON FOLLOWING PAGE. 1503 Purchase and Sale Agreement Page 15 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. PURCHASER: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY SELLER: ___________________________________ _____________________________________ Printed Name: Ty Penserga Printed Name: _________________________ Title: Chair Title: ________________________________ Date: ______________________________ Date: ________________________________ WITNESS: ___________________________________ Printed Name: _______________________ WITNESS: _____________________________________ Printed Name: _________________________ ESCROW AGENT ___________________________________ Lewis, Longman & Walker, P.A. Printed Name: _______________________ Date: ______________________________ 1504 A P P R A I S A L R E P O R T COMMERCIALLY ZONED PROPERTY 1017 NORTH RAILROAD AVENUE BOYNTON BEACH, FLORIDA 33435 by Vance Real Estate Service 7481 Northwest Fourth Street Plantation, Florida 33317-2204 for Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue Boynton Beach, FL 33435 March 7, 2024 1505 MBA in REAL ESTATE DEVELOPMENT & MANAGEMENT 7481 Northwest 4th Street, Plantation, FL 33317-2204 954/583-2116 vanceval@att.net March 7, 2024 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 RE: Commercially zoned property, 1017 N Railroad Avenue, Boynton Beach, FL 33435 (Legal description is in the report.) Ladies and Gentlemen: In fulfillment of our agreement, we transmit our Appraisal Report, in which we develop an opinion of market value for the fee simple estate in the referenced real property as of March 1, 2024. The report sets forth our value conclusion, along with data and reasoning supporting our value opinion. This report was prepared for and our professional fee billed to the client and intended user, Boynton Beach Community Redevelopment Agency. Our analyses have been prepared in conformance with the Uniform Standards of Professional Appraisal Practice. This report is for exclusive use of the client and intended user for possible acquisition of the appraised property. Jesse B. Vance, Jr. and Claudia Vance visited the property. If you have questions or further needs, please contact the undersigned. As a result of our analyses, we have developed the following opinion of market value of the appraised property, subject to definitions, certifications, and limiting conditions set forth in the attached report. TWO HUNDRED SIX THOUSAND DOLLARS $206,000 (THIS LETTER MUST REMAIN ATTACHED TO THE REPORT WITH SIXTY-FIVE (65) NUMBERED PAGES FOR THE VALUE OPINION SET FORTH TO BE CONSIDERED VALID.) Respectfully submitted, Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser RZ-85 Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 1506 TABLE OF CONTENTS Page Number Title Page i Letter of Transmittal ii Table of Contents iii INTRODUCTION 4 Photographs of the Subject Property 5 1-3-5 Mile Location Map 10 1-3-5 Mile Demographic Statistics 11 Summary of Important Facts and Conclusions 13 DESCRIPTIONS, ANALYSES, & CONCLUSIONS 14 Identity of Client and Intended User 15 Intended Use 15 Identification of Real Estate Appraised 15 Ownership 15 Property Address 15 Legal Description 15 Real Estate Tax Analysis 16 Market Area Description 17 Land Use & Zoning 23 Site Description 24 Improvement Description 25 Real Property Interest Appraised 26 Appraisal Purpose and Definition of Market Value 26 Effective Dates of the Appraisal and Report 27 Scope of the Work 27 Summary of Information Considered 28 Property History 29 Highest and Best Use 29 SALES COMPARISON APPROACH 32 Land Sales location map 33 Land Sales documentation 34 Land Sales Comparison & Adjustment Chart 42 Valuation by the Sales Comparison Approach 43 FINAL VALUE OPINION 47 Certification and Limiting Conditions 48 ADDENDA 50 Building sketch of the structure on the appraised property 51 Flood zone map 52 Zoning and land use maps 53 Boynton Beach CRA recommended land use map 54 “C-2” zoning information 55 USPAP Standards Rule 2-2a 57 Qualifications of the Appraisers 61 1507 INTRODUCTION 4 1508 Looking West at Building Front Entrance on Railroad Avenue West Elevation of Building on Appraised Land South Elevation of Building on Appraised Land Photos of the Appraised Land & Improvements 1017 N. Railroad Avenue Boynton Beach, Florida 5 1509 Looking NW at Building from Railroad Avenue Looking South on one-way North-Bound Traffic on Railroad Avenue Looking East on NE 10th Avenue (No South Turn on to Railroad Avenue from NE 10th Avenue) Photos of the Appraised Land & Improvements 1017 N. Railroad Avenue, Boynton Beach, Florida 6 1510 Dining Room Kitchen Living Room Photos of the Appraised Land and Improvements 1017 N. Railroad Avenue Boynton Beach, Florida 7 1511 Living Room 2 Bedroom Photos of the Appraised land and Improvements 1017 N. Railroad Avenue Boynton Beach, Florida 8 1512 AERIAL VIEWS OF THE APPRAISED PROPERTY 1017 NORTH RAILROAD AVENUE, BOYNTON BEACH, FL 9 1513 1-3-5 MILE RADII FROM THE VALUED REAL ESTATE 1017 N. RAILROAD AVENUE BOYNTON BEACH, FLORIDA 10 1514 Executive Summary 1017 N Railroad Ave, Boynton Beach, Florida, 33435 Prepared by Esri Rings: 1, 3, 5 mile radii Latitude: 26.53582 Longitude: -80.05866 1 mile 3 miles 5 miles Population 2010 Population 13,010 77,590 170,602 2020 Population 15,677 89,266 192,331 2023 Population 16,326 91,576 196,428 2028 Population 17,582 92,991 197,693 2010-2020 Annual Rate 1.88%1.41%1.21% 2020-2023 Annual Rate 1.26%0.79%0.65% 2023-2028 Annual Rate 1.49%0.31%0.13% 2020 Male Population 47.8%47.7%47.8% 2020 Female Population 52.2%52.3%52.2% 2020 Median Age 44.8 43.3 45.4 2023 Male Population 48.7%48.0%48.1% 2023 Female Population 51.3%52.0%51.9% 2023 Median Age 44.8 43.9 46.4 In the identified area, the current year population is 196,428. In 2020, the Census count in the area was 192,331. The rate of change since 2020 was 0.65% annually. The five-year projection for the population in the area is 197,693 representing a change of 0.13% annually from 2023 to 2028. Currently, the population is 48.1% male and 51.9% female. Median Age The median age in this area is 46.4, compared to U.S. median age of 39.1. Race and Ethnicity 2023 White Alone 37.1%50.8%53.9% 2023 Black Alone 49.8%29.5%24.3% 2023 American Indian/Alaska Native Alone 0.3%0.5%0.7% 2023 Asian Alone 0.8%2.2%2.5% 2023 Pacific Islander Alone 0.0%0.0%0.0% 2023 Other Race 4.5%6.1%7.1% 2023 Two or More Races 7.4%10.9%11.4% 2023 Hispanic Origin (Any Race)12.1%18.1%20.4% Persons of Hispanic origin represent 20.4% of the population in the identified area compared to 19.4% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 75.1 in the identified area, compared to 72.1 for the U.S. as a whole. Households 2023 Wealth Index 70 79 99 2010 Households 5,107 33,023 73,025 2020 Households 6,270 37,875 81,162 2023 Households 6,653 39,182 83,532 2028 Households 7,296 40,130 84,705 2010-2020 Annual Rate 2.07%1.38%1.06% 2020-2023 Annual Rate 1.84%1.05%0.89% 2023-2028 Annual Rate 1.86%0.48%0.28% 2023 Average Household Size 2.40 2.30 2.32 The household count in this area has changed from 81,162 in 2020 to 83,532 in the current year, a change of 0.89% annually. The five-year projection of households is 84,705, a change of 0.28% annually from the current year total. Average household size is currently 2.32, compared to 2.34 in the year 2020. The number of families in the current year is 47,636 in the specified area. Data Note: Income is expressed in current dollars. Housing Affordability Index and Percent of Income for Mortgage calculations are only available for areas with 50 or more owner-occupied housing units. The Gini index measures the extent to which the distribution of income or consumption among individuals or households within an economy deviates from a perfectly equal distribution. A Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality. Source: U.S. Census Bureau. Esri forecasts for 2023 and 2028. Esri converted Census 2010 into 2020 geography and Census 2020 data. March 05, 2024 ©2024 Esri Page 1 of 2 11 1515 Executive Summary 1017 N Railroad Ave, Boynton Beach, Florida, 33435 Prepared by Esri Rings: 1, 3, 5 mile radii Latitude: 26.53582 Longitude: -80.05866 1 mile 3 miles 5 miles Mortgage Income 2023 Percent of Income for Mortgage 41.2%28.6%31.8% Median Household Income 2023 Median Household Income $53,719 $63,186 $66,060 2028 Median Household Income $60,589 $74,352 $78,060 2023-2028 Annual Rate 2.44%3.31%3.39% Average Household Income 2023 Average Household Income $83,506 $91,631 $99,742 2028 Average Household Income $98,126 $107,555 $116,799 2023-2028 Annual Rate 3.28%3.26%3.21% Per Capita Income 2023 Per Capita Income $34,241 $39,378 $42,449 2028 Per Capita Income $40,867 $46,601 $50,079 2023-2028 Annual Rate 3.60%3.43%3.36% GINI Index 2023 Gini Index 44.0 41.3 41.8 Households by Income Current median household income is $66,060 in the area, compared to $72,603 for all U.S. households. Median household income is projected to be $78,060 in five years, compared to $82,410 for all U.S. households Current average household income is $99,742 in this area, compared to $107,008 for all U.S. households. Average household income is projected to be $116,799 in five years, compared to $122,048 for all U.S. households Current per capita income is $42,449 in the area, compared to the U.S. per capita income of $41,310. The per capita income is projected to be $50,079 in five years, compared to $47,525 for all U.S. households Housing 2023 Housing Affordability Index 59 85 77 2010 Total Housing Units 6,857 41,911 91,271 2010 Owner Occupied Housing Units 3,060 21,130 50,451 2010 Renter Occupied Housing Units 2,048 11,893 22,577 2010 Vacant Housing Units 1,750 8,888 18,246 2020 Total Housing Units 7,785 44,899 97,348 2020 Owner Occupied Housing Units 3,421 21,919 52,408 2020 Renter Occupied Housing Units 2,849 15,956 28,754 2020 Vacant Housing Units 1,524 7,117 16,165 2023 Total Housing Units 8,122 45,973 99,390 2023 Owner Occupied Housing Units 3,317 21,897 53,213 2023 Renter Occupied Housing Units 3,336 17,285 30,319 2023 Vacant Housing Units 1,469 6,791 15,858 2028 Total Housing Units 8,527 46,846 100,568 2028 Owner Occupied Housing Units 3,511 22,312 54,101 2028 Renter Occupied Housing Units 3,785 17,818 30,604 2028 Vacant Housing Units 1,231 6,716 15,863 Socioeconomic Status Index 2023 Socioeconomic Status Index 40.5 45.0 46.0 Currently, 53.5% of the 99,390 housing units in the area are owner occupied; 30.5%, renter occupied; and 16.0% are vacant. Currently, in the U.S., 58.5% of the housing units in the area are owner occupied; 31.7% are renter occupied; and 9.8% are vacant. In 2020, there were 97,348 housing units in the area and 16.6% vacant housing units. The annual rate of change in housing units since 2020 is 0.64%. Median home value in the area is $349,951, compared to a median home value of $308,943 for the U.S. In five years, median value is projected to change by 1.53% annually to $377,480. Data Note: Income is expressed in current dollars. Housing Affordability Index and Percent of Income for Mortgage calculations are only available for areas with 50 or more owner-occupied housing units. The Gini index measures the extent to which the distribution of income or consumption among individuals or households within an economy deviates from a perfectly equal distribution. A Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality. Source: U.S. Census Bureau. Esri forecasts for 2023 and 2028. Esri converted Census 2010 into 2020 geography and Census 2020 data. March 05, 2024 ©2024 Esri Page 2 of 2 12 1516 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS PROPERTY APPRAISED: Commercially zoned property 1017 North Railroad Avenue Boynton Beach, FL 33435 OWNERSHIP: Nina Clark 2031 NE 1st Lane Boynton Beach, FL 33435 2263 LAND AREA: Approximate dimensions are 50 feet (base) x 117 feet (height). Size on the tax roll is 5,908 sq. ft. Note: dimension and size are from public records. No sketch of survey is available for review. BUILDING IMPROVEMENTS: Single family-user house, containing 1,008 square feet under roof, constructed in 1950. The building has reached the end of its useful/ economic life and does not contribute to the highest and best use of the property. ZONING: “C-2”, Neighborhood Commercial District in the city of Boynton Beach CURRENT LAND USE: Local Retail Commercial RECOMMENDED LAND USE: General Commercial APPRAISAL PURPOSE: To develop an opinion of market value INTEREST APPRAISED: Fee simple CURRENT USE: Depreciated single-user structure HIGHEST AND BEST USE: As vacant: Small, low intensity retail commercial use on the appraised lot or larger retail commercial use if assembled with adjacent lots in the same zoning district As improved: Demolition and removal of the depreciated structure VALUE BY THE SALES COMPARISON APPROACH: 5,908 square feet x $34.91 per square foot = (rounded to) $206,000 TWO HUNDRED SIX THOUSAND DOLLARS VALUATION DATE: March 1, 2024 Exposure Time: 12 months prior to selling at the appraised value. Marketing Time: 12 months immediately following the effective date of appraisal during which time the subject property should sell at the appraised value. 13 1517 DESCRIPTIONS, ANALYSES, CONCLUSIONS 14 1518 APPRAISAL REPORT This is an APPRAISAL REPORT that complies with Standard Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice 2-2(a)(i) State the identity of the client; The client and intended user of this report is the Boynton Beach Community Redevelopment Agency. 2-2(a)(ii) State the identity of any other intended users by name or type; None 2-2(a)(iii) State the intended use of the appraisal; The intended use of the appraisal is for possible acquisition of the appraised property. 2-2(a)(iv) Contain information, documentation, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic property characteristics relevant to the assignment; Owner: Nina Clark 2031 NE 1st Lane Boynton Beach, FL 33435 2263 Property Address: 1017 North Railroad Road Boynton Beach, FL 33435 Legal Description: Lot 1, less the north 50 feet, ROBERT WELLS SUBDIVION, Plat Book 11, page 66, Palm Beach County, FL Census Tract No. 61 15 1519 APPRAISAL REPORT (continued) Real Estate Tax: Parcel Control Number: 08 43 45 21 04 000 0011 Land Value: $ 54,900 Improvement Value: (demolished) 136,475 Total Value: $191,375 Assessed Value: $113,487 Exemption Amount: 50,000 Taxable Value: $ 63,487 Ad Valorem Tax: $ 1,447 Non Ad Valorem Tax: 308 Total Tax: $ 1755 Real estate tax for 2023 is paid. There are no outstanding taxes for previous years. Properties are assessed in arrears by the county property appraiser. The tax bill is issued in November and a 4% discount is given to a tax payer if the amount is paid in November. The discount diminishes until March, when the tax is due and payable. In Florida, the taxable (assessed) value for non- homesteaded properties can be increased to a maximum of 10% per year, from tax year 2009 going forward, based on a constitutional amendment voted on by the electorate of the state. There are some exceptions which relate to school taxing districts. However, the millage of the city can increase; thus, real estate taxes can continue to increase from year to year. The 10% per year increase cap accounts for the difference between the Total Value of a property and the Assessed Value. Flood Zone: Zone “X”, according to Map No. 12099C0791F. Zone “X” is not in a Special Flood Hazard Area. Flood zone map is in the Addenda. 16 1520 APPRAISAL REPORT Market Area Description: Boundaries and Market Composition & Transportation Infrastructure The general market area is the City of Boynton Beach in eastern -central Palm Beach County. Population of the city is about 79,000 residents; land area of the municipality is about 16 square miles situated between Delray Beach on the south and Lake Worth on the north. The town was named for an early developer, Nathan Boynton, a former major in the Union Army in the Civil War. The city was founded in 1898 and incorporated in 1920. Most of the original buildings were destroyed in the hurricane of 1926, though a few remain. Those few which were constructed in the early 1920s that are still in use have had repairs and replacements over the decades changing their historical significance. Time and economic trends take a toll on properties; thus, in 1984 a redevelopment plan was adopted for the Community Redevelopment Area (CRA) in the city. It covers 1,650 acres in the central part of the municipality west of the Intracoastal Waterway. Agriculture and farming had been important activities in past centuries in Boynton Beach. Commerce came to the area when Henry Flagler extended the Florida East Coast Railway from West Palm Beach to Miami in 1896. The railroad was the main mode of transportation to bring visitors and manufactured products to the town as well as transporting produce grown in the vicinity out of the area to other cities in the southeastern United States. Freight trains still run through the subject market area on the FEC tracts. Higher speed, passenger Brightline train runs along the FEC tract, but does not stop in Boynton Beach. There are depots in downtown Miami, downtown Fort Lauderdale and downtown West Palm Beach. Boca Raton, Aventura, Port of Miami, and Stuart are added to the list. Rail service to Orlando is operating. In the future, there may be commuter rail service along the FEC tracks with a station in downtown Boynton Beach; however, no plans have been announced. 17 1521 APPRAISAL REPORT (continued) The immediate subject market area is one of the districts in the CRA known as the Heart of Boynton (HOB), containing 380 acres. This area is the historic, older part of the CRA, with the following boundaries: Boynton Beach Canal (C-16) on the north, Florida East Coast (FEC) Railroad on the east, Interstate 95 on the west, and jagged line a few blocks north of Boynton Beach Boulevard as the south boundary, at about NE 3 Avenue. The CRA has concentrated funds and effort into revitalizing the area with new housing options and upgraded streetscapes. The CRA has purchased numerous smaller properties to assemble larger sites for redevelopment of mixed use projects. To the east of the FEC Railroad is U S Highway 1, also known as Federal Highway, the main north-south artery through eastern Palm Beach County and extends along the eastern seaboard of the United States. Heavily trafficked Federal Highway is a catalyst to redevelopment of the general market area, with residential projects planned and completed. Highway beautification projects enhanced the aesthetics of the market area. Individual properties on the east and west side of the highway have shallow depths, inhibiting redevelopment of the sites with larger commercial projects. Assemblages of adjacent properties and rezoning to mixed use will continue to facilitate revitalization of the subject market area. Seacrest Boulevard is a main north-south artery through the City of Boynton Beach and south into Delray Beach. Martin Luther King, Jr. Boulevard is an east-west thoroughfare through the Heart of Boynton. The subject market area is easily accessible by main roads and Interstate 95. Property types in the Heart of Boynton are smaller commercial establishments along the main roads, light industrial close to the FEC Railroad, municipal facilities, single family residential, small multi-family dwellings, a few apartment buildings and places of worship. As mentioned, some structures date back to the 1920’s, but most which are still usable were built in the mid-twentieth century. Municipal facilities in the immediate subject market area include parks, two elementary schools and a community center. 18 1522 APPRAISAL REPORT Projects completed in the Heart of Boynton are: • Seacrest Boulevard Streetscape • Carolyn Sims Center • Ocean Breeze West - 21 homes –joint venture with Habitat for Humanity • Construction of single family residences on Martin Luther King, Jr. Boulevard and on NW 11 Avenue, west of Seacrest Boulevard • Enhancements to Sara Sims Park including landscaping, pavilions, picnic facilities, lighting and security. Projects in progress are: • Higher density residential buildings and commercial buildings on Martin Luther King, Jr. Boulevard • Redevelopment of the Public Works site • Establishment of mixed use districts of residential and commercial • Expansion of light industrial near the FEC Railroad Population Trends The demographic survey in the beginning of the report of 1, 3, and 5 mile radial circles from the appraised property shows the median household income for 2023 in the one-mile radius is $53,719, for three miles it is $63,186, and $66,060 for the five mile circle. Median household income for Palm Beach County is $68,900. In the one-mile circle, population is 16,326. In three miles, population increases to 91,576; at five miles, it is 196,428. However, about 40% of the three and five mile circles are over the Atlantic Ocean and waterways. Annual growth rate in the one-mile circle for the next five years is anticipated to be high at 1.49%, with new multi-family residential complexes being constructed in central Boynton Beach. Annual growth rates in the three and five mile circles are slower at 0.31% and 0.13%. 54% of the housing units are owner occupied, with 31% rented. This percentage of renters is high for Palm Beach County because there are numerous multi-family dwellings in this vicinity. Vacancy is reported to be 15%; however, this amount is elevated due to the undercount of the other two categories as some residents are seasonal and not counted. Median home value in the five-mile area is $349,951 including the highly priced homes fronting the Atlantic Ocean and Intracoastal Waterway, compared to median home value of $308,943 in the United States. 19 1523 APPRAISAL REPORT Economic Trends In South Florida, as in the rest of the United States, real estate prices climbed from 2003-2006. In 2007-2008, concerns were expressed about an unsustainable upward price trend in the market. Then, the economic collapse came in fall of 2008 along with the crash in real estate prices. In 2009, there were very few sales of any type of real estate. By 2010, it appeared that the worst was over. Cash buyers started making purchases. From 2013 to 2022, sales activity and prices recuperated. The upswing in prices is due in part to scarcity of developable land. Properties were back to pre-crash prices and in most cases exceeded that level. The upward trend in real estate prices plateaued and sales volume significantly diminished in the past year due to the increase in interest rates and prices of building materials. Sales volume in 2023 was 75% lower than in 2022 across the real estate board. Some new construction projects were halted and some planned did not commence. The subject market area has examples of each case. The life cycle stage of the market area is revitalization, a period of renewal, modernization, and increasing demand. This revitalization is occurring throughout the CRA area and is influencing activity in each district. The catalyst of the revitalization in the Downtown District was 500 Ocean fronting Federal Highway, consisting of 341 residential units, 20,000 square feet of retail space and 6,000 square feet of office. Several other mixed-use projects are planned alon g Federal Highway such as Ocean One at 114 N Federal Highway which was finally approved for 371 apartments, 25,588 square feet of retail, and 450 parking spaces. Davis Camalier sold the site to Hyperion Group for $78.98 per square foot in December, 2021. Another Federal Highway project is comprised of thirteen parcels beginning at the northeast corner of North Federal Highway and SE 2 Avenue, then extending east. All of the existing improvements were demolished and removed to make way for Broadstone at Boynton Beach, a mixed use project with 274 dwelling unit and 13,110 square feet of retail space. Land unit sale price equates to $83.18 per square foot in May, 2022 for the initial transaction. With the project underway, there was a second sale to another developer and construction has stopped for now. 20 1524 APPRAISAL REPORT Boynton Beach Community Redevelopment Agency (CRA) accepted the proposal from Affiliated Development from five submissions to build a mixed- use project at 115 North Federal Highway. The CRA had purchased the property when improved with a church and subsequently demolished it. The size of the land offered by the CRA was 2.28 acres, including parking lots and the recent purchase of 508 East Boynton Beach Boulevard. Land purchase by Affiliated Development has not been finalized. The proposed project will be called the Pierce, for the legendary Barefoot Mailman, Charlie Pierce. Project size will be 236 apartments, 16,800 square feet of restaurant, retail and office, and 600 space parking garage. 150 of the apartments would be for workforce housing units. Boynton Beach CRA purchased the property at 511-529 East Ocean Avenue where Hurricane Alley Raw Bar & Restaurant is located. Purchase price was $3,600,000. This property consists of three buildings with a total size of approximately 17,201 square feet on a site of 17,903 square feet. It is in the block to the south of 115 North Federal Highway and will become part of the Pierce project. Town Square, a major redevelopment project to the west of Federal Highway, covers three blocks from the south side of Boynton Beach Boulevard south to SE 2 Avenue, encompassing 16.5 acres of land. The north section covers the area of the old city hall and police station which were demolished and removed. For several years, the north and south sections of the project have sat vacant. The middle section was improved with a new City Hall, library, park, museum, amphitheatre and fire station. The former school was preserved. In April, 2023, the north and south sections were sold to Boynton Beach Town Center for a price of $44 million or approximately $126 per square foot of land. The master plan for the parcels include: o 900 residential rental units o 24,000 square feet of retail space o Parking garage for 2,000 vehicles, with 500 of these spaces for city use In addition to the transfer of the ownership of the land, other agreements and considerations were made such as a 100 year parking lease agreement with the City. The Town Square project completion is the force for other pending mixed -use projects to move forward. 21 1525 APPRAISAL REPORT In the Heart of Boynton CRA district, Ocean Breeze East is completed at 700 North Seacrest Boulevard. The development is an affordable apartment project containing 123 units, retail space, clubhouse and swimming pool. The project came about by the Boynton Beach Community Redevelopment Agency selling the land and the Florida Housing Finance Corporation and TD Bank providing the financing. In the Heart of Boynton CRA district, Heart of Boynton Villages and Shops is under construction fronting the north and south sides of East Martin Luther King, Jr. Boulevard, east of Seacrest Boulevard. There will be 124 residential units, 8,530 square feet of commercial space and 218 surface parking spaces. Part of the land was transferred from the Boynton Beach CRA to Wells Landing Apartments, LLC. Wells Landing purchased four parcels from a private property owner to complete the site for the new project. Funding for the project was awarded to the property owner from the Florida Housing Finance Corporation. This project is anticipated to bring about more development along MLK Boulevard and surrounding avenues. At the southeast corner of Seacrest Boulevard and East Martin Luther King, Jr. Boulevard, the store was purchased and opened as Dollar Tree. A large section of the Cottage District from NE 4 Avenue to NE 5 Avenue, between Seacrest Boulevard and NE 1 Street is planned to be developed by Pulte Homes with workforce housing. Parcel size is 4.6513 acres, comprised of smaller lots acquired over many years to assemble a large tract of land for a transformation of a substantial part of the area. Plans are for 41 for-sale units, consisting of 19 single-family houses and 22 townhouses. Conclusion The town’s redevelopment goal is to transform Boynton Beach from a retirement community to a vibrant city where residents can enjoy living and working in an attractive setting. Boynton Beach Community Redevelopment Agency is instrumental in the renaissance of the city. The immediate subject market area of the Heart of Boynton (HOB) has the components of an appealing neighborhood with schools, parks and recreation. HOB is easily accessible by main roads and Interstate 95. 22 1526 APPRAISAL REPORT Goods and services are nearby on Boynton Beach Boulevard and U S Highway 1. With the involvement of the City of Boynton Beach and the Community Redevelopment Agency, Heart of Boynton Community Redevelopment Plan can continue to succeed in revitalizing the area. The transformation of the area is in progress. Development of real estate takes time and the right market conditions which have been positive. Upward price trend for property in the subject market area should escalate when interest rates decrease. Platting: The appraised property is part of a lot in an old plat, recorded prior to the effective date of current zoning regulations. The appraised parcel appears to meet the size standards of the “R -1-A” district; however, city officials make that determination. Land Use: “LRC”, Local Retail Commercial Recommended Land Use: General Commercial Zoning: “C -2”, Neighborhood Commercial District has the purpose to implement the local retail commercial future land use classification of the Comprehensive Plan. The intent of the district is to allow low- intensity commercial uses of a retail convenience that are intended to service individual residential neighborhoods. Minimum lot area is 5,000 square feet, minimum lot frontage is 50 feet and minimum lot depth is 100 feet. Zoning ordinance is in the Addenda. The parcel concerned contains approximately 5,908 square feet. Dimensions are approximately 117 feet by 50 feet, seemingly to meet the standards of the “C-2” district; however, city officials make that determination. 23 1527 APPRAISAL REPORT Site Description: The shape of the site is a parallelogram. Approximate dimensions and size are from public records. North boundary on adjacent property: 50 ft East boundary on Railroad Avenue: 117 ft South boundary on adjacent property: 50 ft West boundary on adjacent property: 117 ft Total: 5,908 square feet or 0.1356 of an acre Utilities: All utilities are available to the site. Access: The site is accessible via Railroad Avenue. Railroad Avenue runs parallel on the west side of the Florida East Coast (FEC) Railroad. The Brightline train uses the FEC tracks. Railroad Avenue intersects with NE 10 Avenue, one property to the north of the subject. NE 10 Avenue has a crossing over the FEC tracks, then has a signalized intersection with North Federal Highway. NE 10 Avenue extends west through the Heart of Boynton district as Martin Luther King, Jr. (MLK) Boulevard. As Railroad Avenue approaches MLK Boulevard, it narrows from two lanes to one. Hence, Railroad Avenue is one-way, northbound at the location of the appraised site. North of MLK Boulevard, Railroad Avenue is one-way, southbound. To the blocks further north or south, Railroad Avenue is a two-directional, north-south road. Pictures of this traffic routing are on page 2 of the photos in the beginning of the appraisal. Access from MLK Boulevard to the property concerned is circuitous, involving finding a way from MLK Boulevard to NE 9 Avenue, south to Railroad Avenue, then heading north to the subject. 24 1528 APPRAISAL REPORT (continued) Average Annual Daily Traffic at the location of the subject is 2,300 vehicles, very low for a commercial road. Easements: Easements are not noted on original plat. If they exist, utility easements would most probably be around the perimeter of the lot. Encroachments: There is no sketch of survey to review to note if there are encroachments. Improvement Description: From the Palm Beach County Property Appraiser’s records, improvement on the site is a single-user residence containing 1,008 square feet under roof, constructed in 1950. The building appears to be of wood construction on an elevated stem wall foundation. No building report of the structure is available for review. The exterior and interior photos of the building show its deteriorated condition. The improvement has reached the end of its physical and economic life. It has no contributiory value to th e highest and best use of the land which is for a new small retail building or larger facility if assembled with adjacent lots. It is not financially feasible to rehabilitate the old building into a modern one. If sold, the buyer would most probably bare the cost of demolition of the old, small building. Therefore, no demolition cost is deducted from the final value of the property. Environmental Assessment: No assessment was available for review. 25 1529 APPRAISAL REPORT 2-2(a) (v) State the real property interest appraised; A person who owns all the property rights is said to have fee simple title. A fee simple title implies absolute ownership unencumbered by any other interest or estate. Partial interests in real estate are created by selling, leasing, et cetera. Partial estates include leased fee and leasehold estates. The interest appraised is fee simple. 2-2(a)(vi) State the type and definition of value and cite the source of the definition; The purpose of the appraisal is to develop an opinion of market value of the subject property as of March 1, 2024. MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal. The conditions included in market value definitions establish market perspectives for development of the opinion. These conditions may vary from definition to definition but generally fall into three categories as follows. 1. the relationship, knowledge, and motivation of the parties (i.e., seller and buyer); 2. the terms of sale (e.g., cash, cash equivalent, or other terms); and 3. the conditions of sale (e.g., exposure in a competitive market for a reasonable time prior to sale). Market value appraisals are distinct from appraisals completed for other purposes because market value appraisals are based on a market perspective and on a normal or typical premise. These criteria are illustrated in the following definition of Market Value*, provided here only as an example. Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions as follows. 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. 26 1530 APPRAISAL REPORT * This example definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated December, 2010. Florida Court Definition: “Market Value is the price that a seller willing, but not compelled to sell, and a buyer willing, but not compelled to buy, would agree to in fair negotiations with knowledge of all the facts.” [Source: Fla. Power & Light Co., v. Jennings, 518 So.2d 895 (Fla. 1987)] 2-2(a)(vii) State the effective date of the appraisal and the date of the report; A) Effective Date of the Appraisal: March 1, 2024 B) Date of the Report: March 7, 2024 2-2(a)(viii) Summarize the scope of work used to develop the appraisal; The appraisal problem is to develop an opinion of value of the property based on its highest and best use. The appraisers visited the property. An investigation was made into the physical characteristics of the property that could affect its value. The market area was surveyed to determine its stage of the life cycle. Research was conducted to ascertain economic factors that might influence value. Data research consisted of collecting, confirming, and reporting land sales. The process included searches and analyses, inspections and confirmations, and final reporting. The appraiser examined several sources of sales data, including multiple listing service, Palm Beach County Property Appraiser’s records, the public records, and data from the appraisers’ plant. 2-2(a)(ix) Summarize the extent of any significant real property appraisal assistance; The two signatory appraisers are the only people involved in the appraisal process. 27 1531 APPRAISAL REPORT 2-2(a)(x)(1) Summarize the appraisal methods and techniques employed; (2) State the reasons for excluding any of the valuation approaches; (3) Summarize the results of analyzing the subject sales, options and listings; (4) State the value opinion and conclusion (5) Summarize the information analyzed and the reasoning that supports the analyses, opinions, and conclusions For Sales Comparison Approach, land sales are compared to each other and to the property under appraisement to arrive at an opinion of value. The information analyzed and the appraisal method used is detailed in the valuation section of the report. Further, the reasoning that supports the analyses, opinions, and conclusions is explained in the valuation section. Cost Approach is not used because the building is at the end of its physical life, leaving only the land that has contributory value to the property. The Income Approach is not employed in this appraisal because most sites like the subject are purchased and not leased. Exclusion of these approaches to value still produces a creditable report. The value opinion and conclusion is stated at the end of the Sales Comparison Approach – Land Valuation. SR 1-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; The property is listed for sale at a price of $290,000. This price is significantly higher than the appraised value of the property of $206,000, which is based on sales of similar properties. 28 1532 APPRAISAL REPORT b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. There have been no transfers of ownership of the property in the past three years. Ownership has been with the same party for many years. 2-2(a)(xi) State the use of the real estate existing as of the effective date and use of the real estate reflected in the appraisal; The use of the real estate on the date of valuation is essentially vacant land because the improvements have no contributory value to the highest and best use of the property. The property as vacant land is the use which is reflected in the appraisal. No personal property is included in the valuation. 2-2(a)(xii) When an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Physically Possible as Vacant No soil or subsoil tests are available for review. However, some of the surrounding land has been improved with residential, commercial or industrial properties since the 1920s. The land is level and filled to street grade; however, the type of fill is not known. Land size is about 5,908 square feet; the shape is a parallelogram. All utilities are available to the site. The parcel has an interior location in the block. It is accessible via Railroad Avenue which is a one-way, northbound road at that location. Access from MLK Boulevard turning south onto Railroad Avenue is not permitted. Physical constraint to develop the site is its size which governs the size of the potential improvement which can be placed on it. 29 1533 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Legally Permissible as Vacant Legal restrictions to the development of the site consist of land use designation, building and zoning codes, platting restrictions and restrictive covenants. Land use designation is Local Retail Commercial. Zoning is “C- 2”, Neighborhood Commercial in the City of Boynton Beach. Minimum lot area is 5,000 square feet; minimum lot frontage is 50 feet. The subject land size is about 5,908 square feet, with a base of 50 feet. It appears that the appraised parcel meets the minimum standards in the “C-2” district to be developed with a stand-alone building. However, city officials make that determination. Recommended future land use is general commercial. Single- user residential is not a listed conforming use in the “C-2” district; again, city officials decide on conforming uses. Financially Feasible as Vacant The third test of Highest and Best Use is economic feasibility. Demand for a certain property type must be evident for it to be feasible. For it to be financially feasible, the use must be marketable and provide the investor with a competitive return when compared with alternate uses. The subject market area has been improved with single-family residences, small multi-family dwellings, and a few commercial properties for almost 100 years. Structures come to the end of their useful lives, improvements are razed and the sites are redeveloped with modern projects. The appraised property would be a case in point. There are other examples of this cycle throughout the subject market area such as Dollar Tree and Heart of Boynton Villages and Shops on MLK Boulevard. The market trend is from low density single occupant residences to higher density multi-family or mixed use projects. With a small amount of vacant land in the densely populated eastern part of Palm Beach County, land has to have a higher yield with more dwelling units per acre calling for multi-story buildings. To provide goods and services to the denser population, com mercial properties will be needed. The appraised land, along with the properties to the west and south are zoned “C-2.” If assemblage is possible, this area would form a site for a substantial commercial development. 30 1534 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Financially feasible use currently of the appraised land is to improve it with a stand-alone low intensity commercial use such as a store. Greater financial feasibility future use would be to assemble with other lots in the block as mentioned. The most probable buyer for the site is a local developer familiar with the revitalization that is occurring in the subject market area. Time for development is now with renewed interest in the neighborhood and support from the Boynton Beach Community Redevelopment Agency. Maximally Productive as Vacant In summary, the Highest and Best Use of the appraised property is to improve it with a low intensity retail facility, either stand-alone or larger if assembled with adjacent lots. Such use would be potentially physically possible, legally permissible, financially feasible and maximally productive. 2-2(a) (xiii) Clearly and Conspicuously: State all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment result. There are no extraordinary assumptions or hypothetical conditions in this report. 2-2(a) (xiv) Include a signed certification in accordance with Standards Rule 2-1 See signed certification in report. 31 1535 SALES COMPARISON APPROACH LAND VALUATION 32 1536 33 1537 VACANT LAND SALES SALE NO. 1 LEGAL DESCRIPTION Lot 12, Amended Plat of Osborne Colored Addition to Lake Worth, Plat Book 6, Page 93, Palm Beach County Records, FL RECORDED O. R. Book 34734 , Page 1746 , Palm Beach County, FL GRANTOR Olen McLean, Individually and Successor Trustee GRANTEE AC Lady, LLC DATE OF SALE December 15, 2023 LOCATION 1527 Railroad Avenue, Lake Worth, Florida 33460 ZONING “CC” Commercial SALE PRICE $189,000 LAND SIZE 5,540 square feet UNITS OF COMPARISON $34.12 per square foot PARCEL CONTROL NO. 38-43-44-34-01-000-0120 CONDITIONS OF SALE Arm’s length cash transaction. COMMENTS Old building that will be demolished. 34 1538 AERIAL PHOTOGRAPH OF LAND SALE 1 1527 Railroad Avenue Lake Worth, Florida 33460 35 1539 VACANT LAND SALES SALE NO. 2 LEGAL DESCRIPTION Model Land Sales Co. Sub, S 150 Ft. of N 405 Ft.of W 175 Ft. of Tract 33 (less W 25 Ft. for Boutwell Rd R/W), Section 20, Township 44 South, Range 43 East, Palm Beach County, Florida RECORDED O. R. Book 34725, Page 733, Palm Beach County, FL GRANTOR Creative Financing, LLC GRANTEE Lassco Development, Inc. DATE OF SALE December 12, 2023 LOCATION 3322 Boutwell Road, Lake Worth, Florida ZONING “MU-W” Mixed Use West (38-Lake Worth Beach) SALE PRICE $550,000 LAND SIZE 15,751 square feet UNITS OF COMPARISON $34.92 per Square Foot of Land PARCEL CONTROL NO. 38-43-44-20-01-033-0060 CONDITIONS OF SALE Arm’s length transaction, included a Purchase Money Mortgage for $275,000. COMMENTS Older house built in 1955. 36 1540 AERIAL PHOTOGRAPH OF LAND SALE 2 3322 BOUTWELL ROAD LAKE WORTH, FLORIDA 37 1541 VACANT LAND SALES SALE NO. 3 LEGAL DESCRIPTION Lot 40, Trade Winds Estates Amended Plat, Plat Book 21, Page 23, Palm Beach County. RECORDED O. R. Book 33,361, Page 127, Palm Beach County, FL GRANTOR Florida Land Trust Services LLC GRANTEE Seabourn Land Holdings LLC DATE OF SALE February 28, 2022 LOCATION 3456 Old Dixie Highway, Unincorporated Palm Beach, Florida ZONING “RM” Multifamily (Medium Density) (00-Unincorporated) SALE PRICE $950,000 LAND SIZE 30,152 square feet UNITS OF COMPARISON $31.51 per Square Foot of Land PARCEL CONTROL NO. 00-43-46-04-17-000-0400 CONDITIONS OF SALE Arm’s length cash transaction COMMENTS The purchaser develops rental apartments. 38 1542 AERIAL PHOTOGRAPH OF LAND SALE 3 3456 OLD DIXIE HIGHWAY UNINCORPORATED PALM BEACH COUNTY, FLORIDA 39 1543 VACANT LAND SALES SALE NO. 4 LEGAL DESCRIPTION Lot 39, Trade Winds Estates Amended Plat, Plat Book 21, Page 23, Palm Beach County. RECORDED O. R. Book 33,361, Page 92, Palm Beach County, FL GRANTOR Christian Come Alive Deliverance & Conference Center, Inc. GRANTEE Seabourn Land Holdings LLC DATE OF SALE February 1, 2022 LOCATION 3466 Old Dixie Highway, Boynton Beach, Florida ZONING “C-4” General Commercial (08-Boynton Beach) SALE PRICE $950,000 LAND SIZE 30,135 square feet UNITS OF COMPARISON $31.52 per Square Foot of Land PARCEL CONTROL NO. 08-43-46-04-17-000-0390 CONDITIONS OF SALE Arm’s length cash transaction COMMENTS Old building on site at the time of sale. The purchaser develops rental apartments. 40 1544 AERIAL PHOTOGRAPH OF LAND SALE 4 3466 OLD DIXIE HIGHWAY BOYNTON BEACH, FLORIDA 41 1545 LAND SALE COMPARISON & ADJUSTMENT CHART TRANSACTIONAL ADJUSTMENTS LAND SALE PRICE SALE LAND SIZE Market Conditions Market Adjusted Adjusted Price SALE PRICE/ SF DATE Sq.Ft.ZONING +5%/year Sale Price Per Sq.Ft. 1 1527 Railroad Avenue $189,000 12/15/2023 5,540 "CC"$2,363 $191,363 $34.54 Lake Worth, Florida $34.12 Commercial Inferior + 1.25% 2 3322 Boutwell Road $550,000 12/12/2023 15,751 "MU-W"$6,875 $556,875 $35.35 Lake Worth, Florida $34.92 Mixed Use Inferior + 1.25% 3 3456 Old Dixie Highway $950,000 02/28/2022 30,152 "RM"$103,075 $1,053,075 $34.93 Unicorp. Palm Beach County $31.51 Multi-Family Inferior + 10.85% 4 3466 Old Dixie Highway $950,000 02/01/2022 30,135 "C-4"$98,990 $1,048,990 $34.81 Boynton Beach, Florida $31.52 Gen. Commercial Inferior + 10.42% SUBJECT Value Unit Value 1017 N. Railroad Avenue $206,000 03/01/2024 5,908 "C-2"------------$34.91 Boynton Beach, Florida Commercial 42 1546 SALES COMPARISON APPROACH LAND VALUATION Of the several methods to develop an opinion of land value, the one considered to be the most reliable is the Sales Comparison Approach. In this method, sales of other similar vacant parcels are compared to the site concerned; then adjusted for differences to arrive at land value. For the opinion to be supportable, there must be an adequate number of sales of similar properties for comparison to the subject. The steps of sales comparison in Land Valuation are : 1) Locate and collect information of recent sales of sites most similar to the land being appraised. 2) Verify the sales information with parties to the transactions, including details of financing and any special considerations or non-typical market features. 3) Select relevant units of comparison and develop a comparative analysis for each unit. 4) Compare and adjust the sales to the subject using the significant, market-derived units of comparison. 5) Reconcile all value indications from the comparisons into a single value opinion by this approach. The appraised land contains about 5,908 square feet. Zoning is “C-2”, Neighborhood Commercial. Highest and best use is for development of an individual retail facility or a larger one if the lot can be assembled with adjacent parcels. The depreciated residence on the appraised site does not contribute to the highest and best use of the property. Cost of demolition would be paid by the buyer of the property as part of the development process. Such is the case with three of the four sales cited in this approach to valuation. A search was made to find recent sales in the immediate subject market area and in areas where parcels are being put to more intense uses than single-user residential. Of the transactions that were reviewed, four of the more similar sales are included in this valuation. Details of the transactions are on the sale sheets and chart. The unit of comparison relevant to this valuation is Sale Price per Square Foot of Land. The range of unit prices is from $31.52 per square foot to $34.92 per square foot of land, before adjustments. ELEMENTS OF COMPARISON Elements of comparison are the characteristics of transactions and properties that cause variation in prices paid for real estate. The Appraisal of Real Estate continues by stating that there are basic elements of comparison that may be considered in sales comparison analysis for land valuation. The first group is termed transactional elements being: real property rights conveyed, financing terms, conditions of sale and market conditions. This second group of property elements consists of location, physical characteristics and use. Each element is hereafter addressed. (Continued) 43 1547 LAND VALUATION (Continued) Real Property Rights Conveyed A transaction price is always predicated on the real property interest conveyed. Property interests conveyed can either be fee simple (without tenants) or leased fee (subject to leases). An adjustment for property rights conveyed is based on whether a leased fee interest was sold with leases at market rent, or below or above market rent. In the case of land, there could be a land lease on the site that would create a leased fee interest. The lease amount would require examination to see if the tenant (the leasehold interest) had a value greater than zero. If it is, then the submarket rental rate would give some of the property value to the tenant. The real property right conveyed in the land sales was fee simple interest, the same interest valued for the land in question. No numerical adjustment is warranted for this element of comparison. Financing Terms Financing terms may have a bearing on the price paid for a property. Such terms that may affect price include assuming a mortgage at lower than current interest rates, the seller paying a buydown for the buyer to have a lower interest rate, or the seller providing financing for a transaction at lower than typical institutional rates. In all of these cases, the buyer could have paid higher prices in such transactions to obtain favorable financing. Three of the land sales were in cash, which is the most common form of payment for small properties and vacant land. Sale 2 was financed by a purchase money mortgage from the seller at loan to price ratio of 50%. It appears that the loan did not have an effect on the sale unit price which is in line with the other sales. No adjustments are made for this element of comparison. Conditions of Sale Condition of sale addresses the motivation of buyers and sellers. Such motivations include a seller accepting a lower than market price for needed cash, a lender selling a previously foreclosed property to comply with regulations imposed on the institution, or a buyer purchasing an adjacent property. Even arm's length transactions may be the result of atypical motivation, such as lack of exposure time to the market, the result of an eminent domain proceeding, or tax consideration. None of the improved sales are transactions by lenders after foreclosures of prior mortgages on the properties. Each of the sales was exposed to the open market for a reasonable time period. Grantees of the sales made the purchases to redevelop the properties, as would a buyer of the property under appraisement. Conditions of sales were typical for the market, not calling for adjustments. (Continued) 44 1548 LAND VALUATION (Continued) Market Conditions Comparable sales that occurred under different market conditions than those applicable to the subject on the effective date of the value estimate require adjustment for any differences that affect their value. The most common adjustment for market condition is time; however, the passage of time itself is not the cause of the adjustment. Market conditions which change over time are the reason to make the adjustment, such as appreciation or depreciation due to building inventory, changes in tax laws, investor's criteria, building moratoriums, fluctuation in supply and demand, et cetera. It is also possible that there is no change in market condition over time. Two of the sales occurred in 2023, and two in 2022. Some properties had a significant increase in price during the past few years. Such increases were characteristic of the market due in part to scarcity of properties for sale and lack of land for more building. The high percentage of increase may not be representative of the price trend going forward. For buyers wanting to finance transactions, the rise in interest rates is negatively affecting the prices they can pay. Volume of sales dropped significantly in 2023 due to the increased interest rates and buyers’ unwillingness to pay higher prices. The inflation rate in 2021 was 4.7%; in 2022, it was 8.0%. The rate began in 2023 at 6.4%, moving down to 3.4%, currently. A decrease in the inflation rate will take time to move through the financial channels and become part of the matrix that affects real estate prices. Despite the dearth of 2023 sales and inflation rate greater than in years past, the change in market conditions is still positive at a moderate 5% annually. Each of the sales is adjusted upward 5% annually for market conditions to the effective date of appraisal. The amounts of the adjustments are shown on the chart. Adjustments for transactional elements of comparison were considered; now, the land sales are likened to the subject and to each other for property elements of comparison. Location The location of a property is a key factor in prompting a buyer to purchase it. Location encompasses many aspects such as road frontage, access, traffic count, proximity to other competing properties, proximity to a market that will use the goods and services housed in a property, governmental influences, et cetera. Typically, properties in a neighborhood share some of the same locational characteristics such as age, condition, and style. However, there may be differences such as corner location, view, and zoning, to name a few. Properties of a similar type may be in different locations, yet the locations may share enough similarities to justify comparison. Factors of similarity between locations include average daily traffic counts, zoning and/or land use, and market composition. A thorough search for sales was made throughout the subject market area and similar areas, especially along Railroad Avenue and Dixie Highway that parallel the FEC railroad tracks. These roads were the location of businesses that transported goods and commodities by rail. They were the “highways” of the past. Later, US Highway 1 to the east became the main north-south artery for commercial properties. Properties on Railroad Avenue and Dixie Highway are small, only able to accommodate small businesses, unless assembled with adjacent properties. (Continued) 45 1549 LAND VALUATION (Continued) The appraised property, Sales 1, 3 and 4 border the FEC Railroad tracts; Sale 2 is farther west on a secondary road. Sales 3 and 4 are an example of an assemblage to form a site large enough for a contemporary project. Zoning for the subject, Sales 1 and 4 is commercial. Sale 2 is in a district that has been changed to mixed-use, permitting a range of uses, exemplifying the modern approach to zoning. No. 3 is zoned multi-family, an older category in Palm Beach County. The sales data show that buyers for land which could be used for commercial, mixed use or multi-family residential are paying about the same unit price. Most “vacant land” in the eastern part of south Florida counties comes about by the razing of old improvements on it. Buyers are purchasing land where they can, then preparing it for new projects. Although, there are some differences in the locations of the subject and sales, they are not significant enough to warrant adjustments. Physical Characteristics Physical characteristics to be considered for adjustments are those that cause a difference in price to be paid by the market. A wide range of such items includes land size, shape, frontage, topography, view, access, functional utility, et cetera. Adjustments for physical characteristics are best derived from the market by paired sales comparison. Through the process of searching for comparable sales, the physical characteristics are of great import. From the universe of possible comparable sales, those that are most similar to the site appraised are presented in the report for analysis and comparison to the subject. The less the number of physical differences, the better. Land Sale 1 is about the same size as the property concerned; the other sales are larger. With so few sales of properties like these, there does not appear to be a strong correlation between size and unit price paid. As mentioned, cost of demolition would be an expense for the buyer. No adjustment is made for this unit of comparison. Use For sites to be comparable, they should have similar uses. Highest and Best Use for the land concerned along with Land Sale 1 is for a small retail commercial use. Future highest and best use would be for larger retail project if assembled with adjacent properties. Highest and Best Use for Sale 2 is for a small mixed use project. Use for Nos. 3 and 4 may be for a multi-family project. As discussed specific use does not appear to dictate unit price, but rather that the land is available for redevelopment. Hence, no adjustment is made for use. 46 1550 FINAL VALUE OPINION Following is a summary of the square foot unit sale prices for the land sales: Land Sale Adjusted Sale Price/ Square Foot 1 $34.54 2 $35.35 3 $34.93 4 $34.81 The range of adjusted unit prices is from $34.54 to $34.93 per square foot of land. With quantitative adjustments having already been made for differences which affect price, equal weight is placed on each of the adjusted unit prices. Considering the foregoing discussion, the unit value for the subject is $34.91 per square foot. The quantity of the comparable data is sufficient to have an overview of the market for smaller parcels of non-single user residential land in the Boynton Beach area and surrounding vicinity. The quality of the data is good in that it provides a sound basis to develop an opinion of value for the land under appraisement. Based on the analysis and conclusions presented within the report, it is our opinion that the Market Value of the Fee Simple Estate of the Subject Property as of March 1, 2024 is: $34.91/sq.ft. x 5,908 square feet = $206,000 TWO HUNDRED SIX THOUSAND DOLLARS 47 1551 CERTIFICATION I certify that, to the best of my knowledge and belief, the statements contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. The analyses, opinions and conclusions were also developed and the report prepared in conformity with the Uniform Standards of Professional Appraisal Practice, which is included in the Appraisal Institute's Standards, and Chapter 475, Part II F.S. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. The use of this report is (also) subject to the requirements of the State of Florida relating to review by the Florida Real Estate Appraisal Board. I have visited the property that is the subject of this report on February 24, 2024. Jesse B. Vance, Jr. and Claudia Vance are responsible for the analyses, conclusions and opinions concerning real estate set forth in this report. No one else has provided significant professional service to the persons signing this certification. The Appraisal Institute and the American Society of Appraisers each conduct programs of continuing education for their designated members. As of the date of this report, Jesse B. Vance, Jr. and Claudia Vance have completed the continuing education program for Designated Members of the Appraisal Institute. Continuing education programs are also completed for the American Society of Appraisers and the State of Florida. March 7, 2024 Jesse B. Vance, Jr., MAI, SRA, ASA Florida State-Certified General Real Estate Appraiser No. RZ-85 March 7 , 2024 Claudia Vance, MAI Florida State-Certified General Real Estate Appraiser No. RZ-173 48 1552 CERTIFICATION AND LIMITING CONDITIONS The statements and conclusions contained in this report, subject to the limiting conditions hereafter cited, are correct to the best of the writers' knowledge. 1. The undersigned have personally visited the subject of this report. No pertinent information has been knowingly withheld. 2. Unless specifically included, the subject is analyzed as though free and clear of liens and encumbrances. 3. No responsibility is assumed for legal matters, nor is an opinion of title rendered. Title is assumed to be good and held in Fee Simple. 4. Legal descriptions and property dimensions have been furnished by others; no responsibility for their correctness is assumed. Sketches which may be in the report are for illustrative purposes only. 5. Possession of any copy of this report does not carry with it the right of publication, duplication, or advertising using the writers’ names or professional designations or membership organizations. 6. The writers are not required to testify without prior agreement. 7. Neither the employment to make this appraisal nor compensation therefore is contingent on the value reported. 8. Improvements, if any, are those noted and reported on the date of inspection. 9. The value or values estimated apply ONLY as of the date of valuation stated within the report. 10. The writers certify that they have no present, past or contemplated interest in the subject of this report. 11. This report is the property of the indicated client. It may not be used by any other party for any purpose not consistent with the written function of this report without the express written consent of the writers AND client. 12. The reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice and Conduct of the Appraisal Institute. The work also conforms to the Uniform Standards of Professional Appraisal Practice. 13. The existence of potentially hazardous material used in the construction or maintenance of buildings, such as the presence of urea formaldehyde foam insulation, and/or existence of toxic waste, which may or may not be present on the property, has not been considered. Additionally, soil or sub -soil contamination may exist from current or prior users, or users outside the property concerned. The appraisers are not qualified to detect such substances. We urge the client to retain an expert in this field if desired. 14. The appraisers have not been provided a Habitat Survey, Endangered Species Survey, or analysis by a qualified environmental specialist indicating the presence of or proximity to environmentally sensitive and/or protected land or species which could affect the use, and possibly, value of the appraised property. The appraisers are not qualified to identify these factors. We recommend that an expert be hired where there may be reasonable cause to expect the presence of any of the cited elements. 15. Jesse B. Vance, Jr. and Claudia Vance were responsible for the analyses, conclusions, and opinions of real estate set forth in this report. (No one else provided significant professional assistance to the report signers). 16. The Americans with Disabilities Act (ADA) became effective January 26, 1992. We have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property would reveal that the property is not in compliance with one or more of the requirements of the act, which could reduce property value. 17. Prospective value estimates are based on current conditions and trends. The appraisers cannot be held responsible for unforeseeable events that might alter market conditions upon which market value has been estimated. 18. The appraisers certify that they have the knowledge and experience required to perform this appraisal assignment. 19. The appraiser reserves the right to amend or change this report at any time additional market information is obtained which would significantly affect the value opinion. Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser No. RZ 85 March 7, 2024 Claudia Vance, MAI State-Certified General Real Estate Appraiser No. RZ 173 March 7, 2024 49 1553 ADDENDA 50 1554 51 1555 National Flood Hazard Layer FIRMette 0 500 1,000 1,500 2,000250 Feet Ü SEE FIS REPORT FOR DETAILED LEGEND AND INDEX MAP FOR FIRM PANEL LAYOUT SPECIAL FLOOD HAZARD AREAS Without Base Flood Elevation (BFE) Zone A, V, A99 With BFE or DepthZone AE, AO, AH, VE, AR Regulatory Floodway 0.2% Annual Chance Flood Hazard, Areas of 1% annual chance flood with average depth less than one foot or with drainage areas of less than one square mileZone X Future Conditions 1% Annual Chance Flood HazardZone X Area with Reduced Flood Risk due to Levee. See Notes.Zone X Area with Flood Risk due to LeveeZone D NO SCREEN Area of Minimal Flood Hazard Zone X Area of Undetermined Flood HazardZone D Channel, Culvert, or Storm Sewer Levee, Dike, or Floodwall Cross Sections with 1% Annual Chance 17.5 Water Surface Elevation Coastal Transect Coastal Transect Baseline Profile Baseline Hydrographic Feature Base Flood Elevation Line (BFE) Effective LOMRs Limit of Study Jurisdiction Boundary Digital Data Available No Digital Data Available Unmapped This map complies with FEMA's standards for the use of digital flood maps if it is not void as described below. The basemap shown complies with FEMA's basemap accuracy standards The flood hazard information is derived directly from the authoritative NFHL web services provided by FEMA. This map was exported on 3/5/2024 at 1:46 PM and does not reflect changes or amendments subsequent to this date and time. The NFHL and effective information may change or become superseded by new data over time. This map image is void if the one or more of the following map elements do not appear: basemap imagery, flood zone labels, legend, scale bar, map creation date, community identifiers, FIRM panel number, and FIRM effective date. Map images for unmapped and unmodernized areas cannot be used for regulatory purposes. Legend OTHER AREAS OF FLOOD HAZARD OTHER AREAS GENERAL STRUCTURES OTHER FEATURES MAP PANELS 8 B 20.2 The pin displayed on the map is an approximate point selected by the user and does not represent an authoritative property location. 1:6,000 80°3'50"W 26°32'25"N 80°3'12"W 26°31'53"N Basemap Imagery Source: USGS National Map 2023 52 1556 RECOMMENDED FUTURE LAND USE SUBJECT: GENERAL COMMERCIAL ZONING MAP SUBJECT: C-2, NEIGHBOR COMMERCIAL 53 1557 CURRENTL LAND USE MAP SUBJECT: LRC, LOCAL RETAIL COMMERCIAL 54 1558 B. C-2 Neighborhood Commercial District. 1. General. The purpose of the C-2 zoning district is to implement the local retail commercial (LRC) future land use map (FLUM) classification of the Comprehensive Plan. The intent of this conventional district is to allow low-intensity commercial uses of a retail convenience that are intended to serve and which are in close proximity to individual residential neighborhoods. Generally, the desired locations of these commercial areas would be at the periphery of one (1) or more neighborhoods along roadway classifications that are able to support the additional traffic. 2. Use(s) Allowed. See "Use Matrix Table 3-28" in Chapter 3, Article IV, Section 3.D. 3. Building and Site Regulations (Table 3-15). No building or portion thereof shall be erected, constructed, converted, established, altered, enlarged or used unless the premises and buildings shall comply with the following regulations: BUILDING/SITE REGULATIONS C-2 District Minimum lot area: 5,000 s.f. Minimum lot frontage: 50 feet Minimum lot depth: 100 feet Minimum yard setbacks: Front: 30 feet1,2 Rear: 20 feet Abutting: Residential district(s) 30 feet Interior side: 15 feet1,2 Abutting: Residential district(s) 30 feet1 Corner side: 20 feet1,2 Abutting: Residential district(s) 30 feet1 Maximum lot coverage: 40% Maximum Floor Area Ratio (FAR) 0.503 Maximum structure height: 25 feet4 1 Reduced setbacks will be applied to property located within the Urban Commercial District Overlay Zone, Section 8.C. below. 55 1559 2 Pursuant to Section 8.B. below, parcels that have frontage on Martin Luther King Jr. Boulevard and are located within the Martin Luther King Boulevard Overlay Zone shall have front, side interior, and side corner setbacks in accordance with the mixed use-low intensity 1 zoning district (see Section 5.C. below). 3 A floor area ratio (FAR) up to 0.50 may be considered for local retail commercial uses allowed within the C-2 district (see "Use Matrix" – Chapter 3, Article IV, Section 3.D.), pursuant to the local retail commercial future land use classification of the Comprehensive Plan. 4 Not to exceed two (2) stories. 4. Review and Approval Process. Pursuant to Chapter 2, Article II, Section 2.F., site plan approval shall be required for the construction or modification of a non-residential building, structure, or improvement, including any area allocated to an accessory residential unit. 5. Parking. Required off-street parking is regulated in accordance with Chapter 4, Article V, Minimum Off-Street Parking Requirements. 56 1560 SUMMARY OF USPAP (Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. STANDARD 2 addresses the content and level of information required in a report that communicates the results of the real property appraisal. STANDARD 2 does not dictate the form, format, or style of real property appraisal reports. The substantive content of a report determines its compliance. STANDARDS RULE 2-1 Each written or oral real property appraisal report m ust: (a) clearly and accurately set forth the appraisal in a manner that will not be misleading; (b) contain sufficient information to enable the intended users of the appraisal to understand the report properly; and (c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment. STANDARDS RULE 2-2 Each written real property appraisal report m ust be prepared under one of the following options and prominently state which option is used: Appraisal Report or Restricted Appraisal Report. An appraiser may use any other label in addition to, but not in place of, the labels set forth in this Standards Rule for the type of report produced. The use of additional labels such as analysis, consultation, evaluation, study, or valuation does not exempt an appraiser from adherence to USPAP. The report content and level of information requirements in this Standards Rule are minimal for each type of report. An appraiser must supplement a report form, when necessary, to insure that any intended user of the appraisal is not misled and that the report complies with the applicable content requirements. (a) The content of an appraisal report must be appropriate for the intended use or the appraisal and, at a minimum: (i) state the identity of the client, or if the client requested anonymity, state that the identity is withheld at the client’s request but is retained in the appraiser’s workfile; (ii) state the identity of any other intended users by name or type; (iii) state the intended use of the appraisal; (iv) contain information, documents, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal, and economic property characteristics relevant to the assignment; (v) state the real property interest appraised; (vi) state the type and definition of value and cite the source of the definition; (vii) state the effective date of the appraisal and the date of the report; (viii) summarize the scope of work used to develop the appraisal; (ix) summarize the extent of any significant real property appraisal assistance; 57 1561 SUMMARY OF USPAP (Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting (x) provide sufficient information to indicate that the appraiser complied with the requirements of STANDARD 1 by: (1) summarizing the appraisal methods and techniques employed; (2) stating the reasons for excluding the sales comparison, cost, or income approach(es) if any have not been developed; (3) summarizing the results of analyzing the subject sales, options, and listings in accordance with Standards Rule 1-5; (4) stating the value opinion(s) and conclusions(s); and (5) summarizing the information analyzed and the reasoning that supports the analyses opinions, and conclusions, including reconciliation of the data and approaches; (xi) state the use of the real estate existing as of the effective date and the use of the real estate reflected in the appraisal; (xii) when an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; (xiii) clearly and conspicuously: • state all extraordinary assumptions and hypothetical conditions, and • state that their use might have affected the assignment results, and (xiv) include a signed certification in accordance with Standards Rule 2-1. STANDARDS RULE 1-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. 58 1562 475.611 Florida Statutes: Definitions.- (1) As used in this part, the term: (a) “Appraisal” or “Appraisal Services” means the services provided by certified and licensed appraisers or registered trainee appraisers, and includes: 1. "Appraisal assi gnment" denotes an engagement for which a person is employed or retained to act, or coul d be perceived by third parties or the public as acting, as an agent or a disinterested third party in rendering an unbiased analysis, opinion, review, or conclusion relating to the nature, quality, val ue, or utility of specified interests in, or aspects of, identified real property. 2. "Analysis assi gnment" denotes appraisal services that relate to the employer's or client's individual needs or investment objectives and incl udes specialized marketi ng, financing, and feasibility studies as well as analyses, opinions, and conclusions given in connection with activities such as real estate brokerage, mortgage banking, real estate counseling, or real estate consulting. 3. "Appraisal review assignment" denotes an engagement for which an appraiser is employed or retai ned to develop and communicate an opinion about the quality of another appraiser's appraisal, appraisal report, or work. An appraisal review may or may not contain the reviewing appraiser's opinion of value. (b) "Appraisal Foundation" or "foundation" me ans the Appraisal Foundation established on November 20, 1987, as a not-for-profit corporation under the laws of Illinois. (c) "Appraisal report" means any communicati on, written or oral, of an appraisal, appraisal review, appraisal consulting service, analysis, opini on, or conclusion relating to the nature, quality, val ue, or utility of a specified interest in, or aspect of, identified real property, and includes any report communicating an appraisal analysi s, opinion, or conclusion of value, regardless of title. However, in order to be recognized in a federally related transaction, an appraisal report must be wri tten. (d) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's appraisal, appraisal report, or work. (e) "Appraisal subcommittee" means the designees of the heads of the federal financial institutions regulatory agencies established by the Federal Financi al Institutions Exami nation Council Act of 1978 (12 U.S.C. ss. 3301 et seq.), as amended. (f) "Appraiser" means any person who i s a registered trainee real estate appraiser, licensed real estate appraiser, or a certified real estate appraiser. An appraiser renders a professional service and is a professional within the meaning of 95.11(4)(a). (g) "Board" means the Fl orida Real Estate Appraisal Board established under thi s section. (h) “Certified General Appraiser” means a person who is certified by the department as qualified to issue appraisal reports for any type of real property (i) "Certified Residential Appraiser" means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four resi dential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulati on. (j) "Department" means the Department of Busi ness and Professi onal Regulati on. 59 1563 2020 FLORIDA STATUTES 475.628 Professional standards for appraisers registered, licensed, or certified under this part.— (1) The board shall adopt rules establishing standards of professional practice which meet or exceed nationally recognized standards of appraisal practice, including standards adopted by the Appraisal Standards Board of the Appraisal Foundation. Each appraiser registered, licensed, or certified under this part must comply with the rules. Statements on appraisal standards which may be issued for the purpose of clarification, interpretation, explanation, or elaboration through the Appraisal Foundation are binding on any appraiser registered, licensed, or certified under this part, upon adoption by rule of the board. (2) The board may adopt rules establishing standards of professional practice other than standards adopted by the Appraisal Standards Board of the Appraisal Foundation for nonfederally related transactions. The board shall require that when performing an appraisal or appraisal service for any purpose other than a federally related transaction, an appraiser must comply with the Ethics and Competency Rules of the standards adopted by the Appraisal Standards Board of the Appraisal Foundation, and other requirements as determined by rule of the board. An assignment completed using alternate standards does not satisfy the experience requirements under s. 475.617 unless the assignment complies with the standards adopted by the Appraisal Standards Board of the Appraisal Foundation. History.—ss. 9, 11, ch. 91-89; s. 4, ch. 91-429; s. 35, ch. 98-250; s. 22, ch. 2012-61; s. 9, ch. 2017-30. Title XXXII REGULATION OF PROFESSIONS AND OCCUPATIONS Chapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERS View Entire Chapter 60 1564 Page 1 of 3 Jesse B. Vance, Jr., MAI, SRA, ASA, MBA Appraiser · Real Estate Analyst · Reviewer · Expert Witness Vance Real Estate Service · 7481 NW 4 Street · Plantation · Florida · 33317 Office: 954·583·2116; Cell: 954·610·2423; Email: vanceval@comcast.net Web Page: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 45 years. Designated appraisers perform the appraisal work, no trainees. Jesse B. Vance, Jr., MAI, SRA, ASA, MBA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, bankruptcies, deficiency judgments, marriage dissolution, and estate valuations. Our firm values most types of real property interests for sale, mortgage loans, litigation and investment reasonably, timely and professionally. As licensed real estate brokers, we perform most other real property functions. We also do “Valuations for Financial Reporting.” PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ DEGREES/ LICENSES & CERTIFICATIONS MAI DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 SRA DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 ASA DESIGNATION - AMERICAN SOCIETY OF APPRAISERS (RE-Urban) #003439 MBA DEGREE - REAL ESTATE MANAGEMENT AND DEVELOPMENT STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ-85 (Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO. BK. 91050 REGISTERED VETERAN-OWNED SMALL BUSINESS (CCR/Duns 826494957) FLORIDA CERTIFIED SDVBE BUSINESS ENTERPRISE (Minority Business Enterprise - MBE) FLORIDA “D.E.P.” APPROVED APPRAISER B) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION 1. U.S. Court of Appeals, Eleventh Circuit 2. U.S. District Court, Southern District of South Florida 3. U.S. District Court, New Jersey 4. U.S. Bankruptcy Court, Southern District of Florida 5. U.S. Bankruptcy Court, District of New Jersey 6. U.S. Bankruptcy Court, Western (Pittsburgh) Division of Pennsylvania 7. Florida Circuit Courts: Broward, Dade, Palm Beach, Lee, Collier, Martin, and Okeechobee Counties 8. Appraiser on landmark eminent domain cases: TESSLER, NESS TRAILER PARK, PATEL, SIMPSON v. FILLICHIO, RUBANO, PALM BEACH COUNTY (FL) vs. COVE CLUB INVESTORS, LTD. C) EXPERIENCE Over thirty-five (35) years appraising and analyzing real property interests in South Florida. Partial list: RESIDENCES, RESTAURANTS/BARS, APARTMENT BUILDINGS, OFFICE BUILDINGS HOTELS/MOTELS, CHURCHES, CONDOMINIUMS/COOPS, HOSPITALS & NURSING HOMES, VACANT LAND, GOLF COURSES, GOLF CLUBS, GASOLINE SERVICE STATIONS, MARINAS, TRAILER PARKS, SHOPPING CENTERS, BANKS/THRIFT INSTITUTIONS, BOWLING ALLEYS, P.U.D.'S, INDUSTRIAL BUILDINGS, TIME-SHARE DEVELOPMENTS, ROCK PITS, SCHOOLS, AGRICULTURAL PROPERTIES, WATER MANAGEMENT DISTRICT, MARKETABILITY, FEASIBILITY ANALYSES, INVESTMENT ANALYSES, AUTO SALES FACILITIES, LEASE VALUATIONS, TAX & ASSESSMENT APPEALS, CONDEMNATION, EXPERT WITNESS (Member National Forensic Center), BUSINESS ENTERPRISE VALUATIONS (BEV), (VFR) VALUATION FOR FINANCIAL REPORTING, AVIGATION & CLEARANCE EASEMENTS, ESTATES, DIVORCES, PLANNING/LAND USE STUDIES, HIGHEST & BEST USE ANALYSES, DEPRECIATION ANALYSES, COMPONENT APPRAISALS, ENVIRONMENTALLY SENSITIVE LAND, CONTAMINATED PROPERTIES, SUGARCANE & TURFGRASS LAND, DAY CARE CENTERS, SELF-STORAGE FACILITIES, FUNERAL HOMES, ANIMAL HOSPITALS, SUBMERGED LAND, CITY CENTERS, etc. 61 1565 Page 2 of 3 D) PARTIAL LIST OF CLIENTS PRIVATE INDIVIDUALS AND CORPORATIONS, ATTORNEYS, ACCOUNTANTS, TRUST DEPARTMENTS, COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; American National Bank; Landmark Bank; City National Bank; BankUnited; Gateway American Bank; State Farm Bank; Englewood Bank & Trust; SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES; FLORIDA CITIES: FORT LAUDERDALE, PLANTATION, COOPER CITY, TAMARAC, LAUDERHILL, BOCA RATON, DEERFIELD BEACH, OAKLAND PARK, WILTON MANORS, HOLLYWOOD, WEST PALM BEACH, DELRAY BEACH, HALLANDALE, PEMBROKE PINES, COOPER CITY, TOWN OF DAVIE, TOWN OF SOUTHWEST RANCHES, MIRAMAR. FLORIDA COUNTIES: BROWARD, PALM BEACH, COLLIER, OKEECHOBEE; BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS; OKEECHOBEE BOARD OF COUNTY COMMISSIONERS. SCHOOL BOARD OF BROWARD COUNTY, FLORIDA, BROWARD COUNTY HOUSING AUTHORITY, STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION (DOT); STATE OF FLORIDA DIVISION OF GENERAL SERVICES(GSA); N. BROWARD GENERAL HOSPITAL DISTRICT; STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (Approved Vendor);U.S. TREASURY DEPARTMENT (General Counsel, I.R.S.); U.S. MARSHAL'S SERVICE – U.S. ATTORNEY’S OFFICE CENTRAL DIVISION – U.S. Dept. of Justice; VETERANS ADMINISTRATION E) EDUCATIONAL BACKGROUND - (Partial List) ACADEMIC: BACHELOR OF ARTS - Earlham College, Richmond, Indiana (1954) MBA (Nova University) - Real Estate Management & Development (National Dean's List 1991) Professional: Qualifying courses for the SRA and SREA designations from the Society of Real Estate Appraisers Qualifying courses for the MAI designation from the Appraisal Institute F) APPRAISAL TEACHING EXPERIENCE Licensed by the Florida Department of Education to Teach (Certificate No. 275236). Authored and taught Residential and Commercial Real Estate Appraisal Courses for Broward County Adult Education Program. Taught Course 101 - Society of Real Estate Appraisers. Taught Course 201 - Society of Real Estate Appraisers. Taught Appraisal Seminars - Board of Realtors, ASA, SREA, and AI (Appraisal Institute). Adjunct Professor, University of Florida Division of Continuing Education: (taught Course 2, "Real Estate Principles and Practices" to prospective Florida Real Estate Brokers). G) PROFESSIONAL OFFICES HELD/AWARDS NATIONAL B.O.D. MEMBER - BOARD OF DIRECTORS of APPRAISAL INSTITUTE (2006- 2008) AWARD - Appraisal Institute “NATIONAL PRESIDENTS AWARD” 2008 AWARD - Appraisal Institute “LIFETIME ACHIEVEMENT AWARD” 2011 For “high ethical standards, contributions to the Appraisal Institute, Community and Appraisal Profession for at least 20 years.” CHAIR - REGION X - All of Florida - Appraisal Institute (2008) VICE-CHAIR - REGION X - All of Florida - Appraisal Institute (2007) THIRD DIRECTOR - REGION X - All of Florida - Appraisal Institute (2006) FINANCE OFFICER - REGION X – All of Florida – Appraisal Institute (2006) PRESIDENT - BROWARD COUNTY, SOCIETY OF REAL ESTATE APPRAISERS PRESIDENT - BROWARD COUNTY, AMERICAN SOCIETY OF APPRAISERS CHAIR - FLA. STATE GOVERNMENT RELATIONS SUBCOMMITTEE OF AI CHAIR - FLA. STATE LEGISLATION & REGULATION SUBCOMMITTEE OF AI G) PROFESSIONAL OFFICES HELD/AWARDS CHAIR - FLORIDA REALTORS COMMITTEE ON COMMITTEE REFORMS CHAIR - EDUCATION COMMITTEE, FT. LAUDERDALE CHAPTER AI CHAIR - CANDIDATES GUIDANCE COMMITTEE, FT .LAUDERDALE CHAPTER AI CHAIR - NATIONAL Valuation for Financial Reporting PROJECT TEAM OF AI VICE CHAIR & MEMBER - NATIONAL GOVERNMENT RELATIONS COMMITTEE OF AI (15 Years) MEMBER - NATIONAL LONG RANGE PLANNING COMMITTEE OF AI MEMBER - NATIONAL PUBLIC AFFAIRS COMMITTEE OF AI DIRECTOR - REGION X (Florida ) Appraisal Institute MEMBER - REGION X (FLORIDA) ETHICS AND COUNSELING PANEL 62 1566 Page 3 of 3 DIRECTOR - BROWARD COUNTY, FLORIDA SOCIETY OF REAL ESTATE APPRAISERS DIRECTOR - SOUTH FLORIDA CHAPTER AMERICAN SOCIETY OF APPRAISERS MEMBER - NATIONAL EXPERIENCE REVIEW PANEL MEMBER OF AI SPECIAL MASTER - BROWARD COUNTY BOARD OF TAX ADJUSTMENT COMMISSIONER - 17TH JUDICIAL CIRCUIT COURT, Broward County, FL MEMBER - 2013 APPRAISAL INSTITUTE NATIONAL BUSVAL PROJECT TEAM H) PROFESSIONAL PUBLICATIONS & PRESENTATIONS Wrote and taught a basic Residential Appraisal Course for the Broward County Adult Education Div. of the Dept. of Education; Wrote and taught an Income Appraisal Course for the Broward County Adult Education Division of the Department of Education; Co-authored and taught an appraisal course on Mortgage-Equity Capitalization for the American Society of Appraisers. Authored and taught a Florida State and Appraisal Institute 3-hour accredited course in "The Legislation, Regulation and Appraisal of Real Property Rights in Florida September 7, 1996. Presentation on “Gramm-Leach -Bliley” Federal Privacy Act of 1999 for South Florida Chapter of American Society of Appraisers on October 24, 2001. Presented 3-hour Florida CEU-credit seminar on “Appraisers and the Gramm-Leach-Bliley Act” before the South Florida Chapter of the Appraisal Institute on July 27, 2002. Presenter at 6.5 Hour CLE-credit Attorney Seminar on Florida Eminent Domain, “Valuation and Damage Issues” February 2, 2006, Fort Lauderdale, Florida I) CIVIC INVOLVEMENT MEMBER OF ROTARY INTERNATIONAL / PAUL HARRIS FELLOW MEMBER OF THE GREATER FORT LAUDERDALE OPERA GUILD MEMBER FLORIDA PHILHARMONIC BROWARD TRUSTEES MEMBER OF THE BROWARD COUNTY LIBRARY SUPPORT GROUP ("BYBLOS") MEMBER CIRCLE OF FRIENDS – NOVA SOUTHEASTERN LIBRARY FOUNDATION MEMBER NOVA SOUTHEASTERN UNIVERSITY ALUMNI ASSOCIATION MEMBER OF THE FORT LAUDERDALE HISTORICAL SOCIETY MEMBER OF THE BROWARD COUNTY MUSEUM OF THE ARTS MEMBER OF THE FORT LAUDERDALE / BROWARD COUNTY CHAMBER OF COMMERCE MEMBER OF THE BETTER BUSINESS BUREAU OF SOUTH FLORIDA LIFETIME HONORARY MEMBER FLORIDA SHERIFF’S ASSOCIATION MEMBER NATIONAL & FT. LAUDERDALE COUNCILS U.S. NAVY LEAGUE U.S. ARMY VETERAN WWII (RA 17212681) - HONORABLE DISCHARGE 1949 63 1567 Claudia Vance, MAI Appraiser · Real Estate Analyst · Reviewer Vance Real Estate Service · 7481 NW 4 Street · Plantation · FL · 33317 Office: 954·583·2116 Cell: 954·647·7148 Email: vanceval@att.net Web Site: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 40 years. Designated appraisers perform the appraisal work, no trainees. Our appraisals are used for financial/ mortgage loan purposes from large mixed use complexes to small owner - occupied properties. We have the qualifications for appraisals submitted to SBA. Jesse B. Vance, Jr., MAI, SRA, ASA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, deficiency judgments, marriage dissolution, and estates. Our firm values most types of real property interests, timely, professionally, and at competitive costs. PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ LICENSES MAI Designation - APPRAISAL INSTITUTE No. 9451 State-Certified General Real Estate Appraiser No. RZ-173 Florida State Licensed Real Estate Broker No. BK 0161305 VOSB Veteran-Owned Small Business (CCR/Duns 826494957) B) WORK HISTORY 1983 - Current Vice President - Vance Real Estate Service 1981 – 1983 President - The Appraisal Company, Fort Lauderdale, Florida C) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S. Bankruptcy Court, Southern District of Florida Florida Circuit Court: Broward County D) PROFESSIONAL DEVELOPMENT PROGRAM REGISTRIES Valuation of Sustainable Buildings: Commercial Valuation of Sustainable Buildings: Residential E) EXPERIENCE: 40+years appraising and analyzing real property interests in South Florida. F) APPRAISER SPECIAL MAGISTRATE FOR THE BROWARD CO VALUE ADJUSTMENT BOARD 2002-2010 Partial list of real property types valued: High value residences, Condominiums/ Co -operatives, Office, Industrial, Multi-family, Restaurants/ bars, Auto dealerships, City Centers, Hotels/ motels, Houses of worship, Schools, Child care centers, Self-storage, Funeral home, Animal Hospital, Mixed use, Nursing homes, Gas sales stations, Marinas, Mobile home parks, Shopping centers, Country clubs/ golf courses, Financial institutions, Bowling centers, Vacant land, Agricultural properties, Environmentally sensitive land Types of Reports: Market Value, Eminent Domain, Marketability, Feasibility, Highest and Best Use, Investment Analyses, Partial Interests, Easement Valuations, Estate planning, Marriage dissolution, Land use studies, Damage/ Contamination studies 64 1568 G) PARTIAL LIST OF CLIENTS – PRIVATE: Individuals, Corporations, Attorneys, Accountants, Habitat for Humanity, Seminole Tribe of Florida COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; Citigroup; Space Coast Credit Union; State Farm Bank; Florida Shores Bank; American National Bank; Landmark Bank; City National Bank; Evermore Bank National Bank SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES FLORIDA CITIES: Fort Lauderdale, Plantation, Cooper City, Deerfield Beach, Tamarac, Oakland Park, Wilton Manors, North Lauderdale, Davie, Pembroke Pines, Hallandale Beach, Lauderhill, Southwest Ranches, Miramar, Boca Raton, Boynton Beach, West Palm Beach, Delray Beach FLORIDA COUNTIES and AGENCIES: Broward, Palm Beach, Broward County Board of County Commissioners, School Board of Broward County, Broward County Housing Authority, Fort Lauderdale Community Redevelopment Agency, Boynton Beach Community Redevelopment Agency STATE OF FLORIDA Department of Transportation (FDOT), Department of Environmental Protection U.S. Department of Veterans Affairs, U.S. Department of Treasury (IRS), U.S Marshall’s Service, U.S. Attorney H) EDUCATIONAL BACKGROUND Academic: Bachelor of Arts Degree – University of New Orleans, New Orleans, LA – Major: English Professional: Qualifying courses for the MAI designation I) PROFESSIONAL INVOLVEMENT Region X Representative of the Appraisal Institute 2006 – 2009 President of the South Florida Chapter of the Appraisal Institute - 2003 First Vice-President of the South Florida Chapter of the Appraisal Institute -2002 Second Vice-President of the South Florida Chapter of the Appraisal Institute -2001 Secretary of the South Florida Chapter of the Appraisal Institute -2000 Treasurer of the South Florida Chapter of the Appraisal Institute - 1999 Chair of the Education Committee of the S. Florida Chapter of the Appraisal Institute - 1995, 1996, 1997, 1998, 2007- 2018 Director of the South Florida Chapter of the Appraisal Institute 1996 - 1998 Member of Region X (Florida) Ethics and Counseling Panel –AI Newsletter Editor of the South Florida Chapter of the Appraisal Institute – 2020-current Graduate of the Florida REALTORS Institute (GRI) J) CIVIC INVOLVEMENT Member of the Navy League of the United States – Fort Lauderdale Council Lifetime Honorary Member- Florida Sheriff’s Association Member of Zeta Tau Alpha Alumnae Fraternity 65 1569 Street #Property Address Structure or Lot?Asking Price Appraised Value Lot Size Acres Square Feet Price per Sq. Ft. Percentage Above Appraised Value Nina Clark 1017 N. Railroad Avenue Residential Structure $290,000.00 $206,000.00 0.1356 5906.736 $49.10 41% 225 NE 9th Avenue 225 NE 9th Avenue Vacant Lot $300,000.00 $196,000.00 0.1728 7527.168 $39.86 53% Street #Property Address Structure or Lot?Appraised Value Contract Price Lot Size Acres Square Feet Price per Sq. Ft. Notes Elite Ramsay Group, LLC 524 NW 3rd Street Vacant Lot $195,000.00 $195,000.00 0.1946 8476.776 $23.00 Listed @ $199,900-Contract Price is appraised value Street #Property Address Structure or Lot?Date Acquired Purchase Price Lot Size Square Feet Price per Sq. Ft. Status xxx MLK Blvd.Vacant Lot October-14 $130,000.00 0.1607 7000.092 $18.57 MLK Corridor redevelopment 308 NE 10th Avenue Vacant Lot - Structure demo'd April-05 $225,000.00 0.178 7753.68 $29.02 MLK Corridor redevelopment xxx NE 10th Avenue Vacant Lot October-16 $19,000.00 0.1779 7749.324 $2.45 MLK Corridor 211 NE 9th Avenue Vacant Lot May-18 $53,000.00 0.1738 7570.728 $7.00 To be added to the properties aka MLK South for Mixed Use Development 231 NE 9th Avenue Vacant Lot - Structure demo'd April-14 0.1726 MLK Corridor redevelopment xxx NE 10th Avenue-MLK Vacant Lot-Purchased w/ 231 NE 9th Ave April-14 0.1779 MLK Corridor redevelopment xxx NE 10th Avenue-MLK Vacant Lot-Purchased w/ 231 NE 9th Ave April-14 0.1779 MLK Corridor redevelopment 235 NE 9th Avenue Vacant January-06 $249,000.00 0.1725 7514.1 $33.14 MLK Corridor redevelopment xxx NE 4th Avenue Vacant Lots November-09 $300,000.00 0.8619 37544.364 $7.99 Cottage District xxx NE 4th Ave Vacant January-07 $475,000.00 0.7404 32251.824 $14.73 Cottage District 508 N. Seacrest Blvd.Vacant Lot - Structure demo'd October-07 $545,000.00 0.1117 $24.34 Cottage District 103 NE 4th Avenue Vacant Lot - Structure demo'd-Purchased w/ 508 N. Seacrest October-07 0.1657 Cottage District 105 NE 4th Avenue Vacant Lot - Structure demo'd-Purchased w/ 508 N. Seacrest October-07 0.2367 Cottage District 121 NE 4th Avenue Vacant Lot - Structure demo'd August-14 $155,000.00 0.2757 12009.492 $12.91 Cottage District 127 NE 4th Avenue Vacant Lot - Structure demo'd June-07 $200,000.00 0.2757 12009.492 $16.65 Cottage District 145 NE 4th Avenue Vacant Lot-Structure demo'd January-20 $205,000.00 0.1723 7505.388 $27.31 Cottage District CCC merged w/ Feed So. FL and moved out of bldg 3/30/20; house was boarded up and No Trespass Agreement signed; getting ready for demo - also $45,000 was given to CCC for relocation fees 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.159 Cottage District 122 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.1586 Cottage District 136 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.1583 Cottage District 140 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.158 Cottage District 144 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.1547 Cottage District 511 NE 1st Street Vacant Lot - Structure demo'd October-07 $210,000.00 0.1494 6507.864 $32.27 Cottage District 114 NE 5th Avenue Vacant Lot - Structure demo'd June-08 $187,500.00 0.1137 4952.772 $37.86 Cottage District 517 NE 1st Street Vacant Lot - Structure demo'd October-14 $74,000.00 0.2299 10014.444 $7.39 Cottage District 515 NE 1st Street Vacant Lot - Structure demo'd May-15 $130,000.00 0.1379 6006.924 $21.64 Cottage District 407 NE 1st Avenue Vacant Lot - Structure demo'd November-20 $268,000.00 0.1742 7588.152 $35.32 Misc. XXX E. MLK Blvd.Vacant Lots May-21 $175,000.00 0.4821 21000.276 $8.33 $57,000.00 23017.104 $2.48 22394.196 SUBJECT PROPERTY FOR BOYNTON BEACH CRA PURCHASE PROPERTY UNDER CONTRACT BOYNTON BEACH CRA PROPERTY INVENTORY Apr-24 $825,000.00 34351.416 $24.02 1570 115 NE 4th Avenue Vacant Lot - Structure demo'd July-21 $275,000.00 0.1148 5000.688 $54.99 Cottage District 133 NE 4th Avenue Vacant Lot - Structure demo'd July-21 $300,000.00 0.1723 7505.388 $39.97 Cottage District Lots 348-350 NW 11th Avenue Vacant Lot March-24 $165,000.00 0.1753 7636.068 $21.61 TOTALS 5,222,500$ 6.7696 294,883.78 $17.71 1571 Street #Property Address Structure or Lot/Appraisal Date Acquired Sale Price Lot Size Acres Square Feet Price per Sq. Ft. 321 E. MLK Blvd.Structure (Single Family Home)N/A $315,000.00 0.1607 7000.092 $45.00 334 NE 11th Avenue Structure (Rental)N/A $305,000.00 0.1722 7501.032 $40.66 507 & 513 NE 2nd Street Structures (Rental)N/A $3,000,000.00 0.6073 26453.988 $113.40 137 NE 3rd Avenue Structure (Garage)N/A $300,000.00 0.1742 7588.152 $39.54 PREVIOUS PROPERTY OFFERINGS TO BOYNTON BEACH CRA 1572 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.B SUBJECT: Discussion and Consideration of Purchase of 225 NE 9th Avenue SUMMARY: CRA Staff actively pursues the purchase of properties within the BBCRA District in order to spur redevelopment opportunities in accordance with the 2016 Boynton Beach Community Redevelopment Plan. The vacant property located at 225 NE 9th Avenue is located within the Heart of Boynton District (Attachment I & II). The property is approximately 7527.17 square feet (0.1728 acres) and zoned R2-R2 Duplex, 10 DU/AC. The future development would be mixed use low (MUL) with a development potential of 20 units per acre with a maximum height of 45'. The CRA and City have been working together on continuing NE 2nd Street from E. Martin Luther King, Jr. Blvd. (south) to NE 9th Avenue. 225 NE 9th Avenue is adjacent to multiple CRA lots which are being used for the roadway dedication. The addition of this lot would help facilitate drainage issues in the area (Attachment III). The owner's asking price is $335,000.00 (Attachment IV). The property was appraised on February 1, 2024, for $196,000.00 (see Attachment V). Attached is a comparable chart of the square footage cost of recent CRA acquisitions in the Heart of Boynton District (Attachment VI). This item is being brought before the Board for discussion on the potential purchase of the vacant lot. Due diligence would be performed as part of the purchasing process. FISCAL IMPACT: Purchase Price to be determined by the Board. FY 2023-2024 Budget, Project Fund, Line Item 02-58200-401 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan - Heart of Boynton District CRA BOARD OPTIONS: 1. Approve the purchase of 225 NW 9th Avenue in the amount of $335,000.00 and CRA Staff will bring a Purchase and Sale Agreement back to the Board for approval and execution. 2. Do not approve the purchase of 225 NW 9th Avenue. 1573 •Attachment I - Location Map •Attachment II - Heart of Boynton District •Attachment III - NE 2nd Street Right of Way Map •Attachment IV - Seller's Asking Price •Attachment V - Appraisal 225 NE 9 Ave •Attachment VI - HOB Comparables-1017 N Railroad & 225 NE 9th Ave 3. Alternative direction as provided by the CRA Board. ATTACHMENTS: Description 1574 1575 105 Heart of Boynton District Introduction Planning Challenges Planning Considerations The Vision Recommendations 1576 106D.District PlansIntroduction The Heart of Boynton District is a 380-acre neighborhood developed predominantly with single-family homes. The neighborhood has several parks, two public schools and numerous churches. Unfortunately, it has been the victim of disinvestment over the last 50 years. The two Census blocks of Tract 61 which encompasses this District have the median household income of $20,848, the lowest in the City. To counter the decline of the neighborhood, in 2001 the CRA and City adopted the Heart of Boynton Community Redevelopment Plan. The Plan was updated in 2014 to reflect the achievements of the original plan and add new projects to reflect the current market conditions. A number of recommendations of the original CRA Plan have been implemented, including: • The demolition of the Cherry Hill public housing project • The redevelopment of the Boynton Terrace site – Ocean Breeze West – into 21 single- family homes • Redevelopment of Wilson Park and into Carolyn Sims Community Center • Expansion of the Palmetto Greens Park • Redevelopment of Sara Sims Park – Master Plan created, property acquired • Streetscape Improvements on Seacrest Boulevard • Redevelopment of Martin Luther King, Jr. Boulevard – Property acquired and Family Dollar developed • Development of new housing – 60 new single family homes developed In partnership with nonprofits, the City and CRA. The Heart of Boynton District is bounded by the C. Stanley Weaver (C-Canal) canal to the north, I-95 to the west, N.E. 3rd Avenue to the south and the FEC rail line to the east. The area is within walking distance of the Cultural and Downtown Districts. A major arterial road—Seacrest Boulevard—runs through the neighborhood north/south. Martin Luther King, Jr. Boulevard, once lined with locally-owned businesses, runs east/west. There are two public elementary schools in the neighborhood, Poinciana and Galaxy. Both schools are STEM schools (Science, Technology, Engineering and Math). There are a number of parks and special use areas within the neighborhood, such as, Carolyn Sims Community Center, Galaxy Park and Scrub and Sara Sims Park. 1577 107 Boynton Beach Blvd.FEC RailroadSeacrest Blvd.MLK, Jr. Blvd. NE 3rd Ave. NNW 3rd St.NW 6th Ave. NE 11th Ave.NE 3rd St.NE 9th Ave. Figure 57: Heart of Boynton District Location Map 1578 108D.District PlansFigure 58: Example of District Planning Challenges Planning Challenges The Heart of Boynton area suffers from an aging and poorly maintained housing stock. The CRA and City, in partnership with local non-profits, continue to develop single-family homes, but there is a need for quality affordable multi-family rental housing. The problem is that—given low median household incomes—it cost more to build even modest apartments than many of the families can afford. This gap will has to be filled through some form of a subsidy. Another major deterrent to private investment is the visible blight and crime. There are still a number of small convenience stores that allow loitering and illegal activities for all to see, discouraging people to buy homes or invest in businesses within the area. The District is comprised of small parcels platted in the 1920’s – 1930’s, during Florida’s land boom. The parcels are owned by many different people making assembly of a developable site very difficult and expensive. Moreover, many owners have an unrealistic sense of the value of their property. Over the years, the neighborhood has lost most of their retailers and service providers. There is no full service grocery store and only one take- out restaurant. The majority of commercial use is represented by convenience stores. A new Family Dollar store at the corner of Martin Luther King, Jr. Boulevard and Seacrest Boulevard has been a welcome addition, but there is a need for more retail services. The neighborhood is bifurcated by a four- lane Seacrest Boulevard, which has only one signalized pedestrian crossing even though there are two elementary schools in the neighborhood. The width of the road and drive aisles encourage speeding through the neighborhood; clearly, the road is not presently designed at a neighborhood scale. Both Seacrest Boulevard and Martin Luther King, Jr. Boulevard have older, ill-maintained power poles with overhead utilities, causing a “visual blight.” 1579 109 Planning Considerations Several factors were considered in determining the land use designations for the Heart of Boynton District. A future commuter rail station for the planned Tri- Rail Coastal Link service, which will serve the South Florida metropolitan region, is planned for downtown at N.E. 4th between Ocean Avenue and Boynton Beach Boulevard. To improve land development patterns in advance of station development, the City adopted a Downtown Transit Oriented Development District (DTOD), covering a ½ mile radius around the station’s location, including a portion of the Heart of Boynton. The DTOD district regulations support increased intensity of development through a 25% density bonus. A second consideration is the Transportation Concurrency Exception Area (TCEA) which, in addition to the residential exception area applicable east of I-95, exempts all development from the Palm Beach County traffic concurrency requirements thus allowing denser development. The Plan recommends increasing density within the area where the TCEA and TOD designations overlap. However, because this District is a low- scale neighborhood, no increase in height over 45’ is recommended. Historic District. There are a significant number of historic cottages located along both sides of NE 3rd Avenue and the south side of NE 4th Avenue between N. Seacrest Boulevard and NE 1st Street. In order to protect these cottages while allowing commercial redevelopment of the south side of NE 3rd Avenue, the Plan recommends that: • The historic cottages from the south side of NE 3rd Avenue be relocated to the vacant lots on the north side of NE 3rd Avenue. • On completion of the relocations, a historic district, tentatively called Shepard Funk Addition Historic Cottage District, be created within the block enclosed by N. Seacrest Boulevard, NE 1st Street, NE 3rd Avenue, and NE 4th Avenue. Figure 59: Historically significant cottages in the HOB 1580 110D.District PlansVision The Heart of Boynton area will become a model neighborhood, with its unique character and history preserved. The vision includes enriching the original vernacular architecture of the neighborhood, investing in housing and commercial uses, and connecting both through the pedestrian and vehicular networks. Recommendations: Streetscape Streetscape enhancements are recommended for the Seacrest Blvd and Martin Luther King Jr. Blvd. The space for these enhancements may be obtained through either right-of-way dedications or public easements. The enhancements should include: • Implement a Complete Streets program for Seacrest Boulevard and ML K Jr. Boulevard to accommodate bike lanes and bike racks, widening of sidewalks, decorative street lights, street furniture, and on-street parking. • Marking of major intersections with materials such as pavers, paint, etc. • Enhanced median landscaping • Bus shelters (will be required as part of new construction) • Additional signalized pedestrian crossings (including mid-block) along Seacrest BoulevardAddition of canopy street trees • Creation of a Pedestrian Zone adjacent to the right-of-ways that is inviting, safe and includes: • Minimum 8’ wide clear sidewalk • Decorative light poles at both the vehicular and pedestrian scales • Require installation of canopy trees that provide immediate shading at time of construction • Undergrounding of overhead utilities • Creation of a greenway to connect the greenway proposed along NW 1st Avenue, Sara Sims Park, and Wilson Park per the Connectivity Plan • Creation of an eco-trail to connect the existing scrub and linear parks per the Connectivity Plan 1581 111 Figure 60: Seacrest Blvd Streetscape Area Figure 61: MLK JR. Blvd. Streetscape Area Figure 62: MLK JR. Blvd. Street Section 1582 112D.District PlansRecommendations: Land Use The existing land use designations within the Heart of Boynton District are: • Low Density Residential – 5 units per acre (all of this land use designation is concentrated on the west side of Seacrest Boulevard. • Medium Density Residential – 10 units per acre (this land use designation is concentrated on the east side of Seacrest Boulevard) • High Density Residential – 11 units per acre (currently over the Ocean Breeze West development and along W. Seacrest from N.W. 8th to N.W. 9th) • Mixed-Use – 40 units per acre (this land use designation is placed on the CRA-owned Ocean Breeze East block and on CRA-owned property along MLK, Jr. Boulevard) • Local Retail Commercial, General Commercial, Industrial, Recreational, and Public & Private Governmental/Institutional Below is a table of the proposed land use and zoning designations that will apply within the Federal Highway Corridor District: Table 7: Recommended Future Land Use (FLU) Classifications within the Heart of Boynton District *Properties located within the TOD may recieve a 25% density bonus * 1583 113 Boynton Beach Blvd.Seacrest Blvd.MLK Jr. Blvd.NW 3rd St.NE 3rd St.NW 6th Ave. NE 9th Ave. N LDR MUM MUL MDR HDR GC I R PBG/I Figure 63: Recommended Land Use for the Heart of Boynton District 1584 114D.District PlansRecommendations: Urban Design • There are three architectural styles of historic structures in the Heart of Boynton: Mission, Frame Vernacular, and Mediterranean Revival. When building in this District, new development shall attempt to utilize one of these architectural styles. • A Historic Cottage District should be considered adjacent to the proposed Cottage District; where feasible, historically contributing cottages in the area shall be relocated in the Historic Cottage District. • Commercial buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall maximize the amount of glazing. • Residential buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall be designed to have pedestrian access from the main road and have front door facing the main road. • All buildings along MLK Jr., Boulevard and/or Seacrest Boulevard shall be set back to allow for a pedestrian zone. • Approximately 75% of the lot frontage must be occupied by structure and be adjacent to the pedestrian zone. • Buildings fronting MLK Jr., Boulevard shall be a maximum of two story and stepped back to continue to the maximum allowed height in the designated Zoning District. • Parking shall be located to the rear or side of the buildings • Curb cuts shall be permitted on Boynton Beach Blvd only when access is not possible from the rear or side. • When adjacent to commercial uses, single-family areas shall be protected through the use of landscape buffers and/or walls as appropriate. Figure 64: Heart of Boynton Projects 1585 115 Sara Sims Park Expansion Working with residents of the community, the CRA and its consultant created a master plan for the expansion and improvement of Sara Sims Park. The CRA has also purchased seven properties and deeded them to the City in preparation for the eventual expansion of the park. Staff will review the feasibility of converting a portion of Sara Sims Park Master Plan, along the western boundary, from Recreational Land Use to Single Family. This process shall include a public meeting, the Parks and Recreation Board review and recommendation, and CIty Commision approval. Ocean Breeze East The CRA owns 4.5 acres of vacant land east of Seacrest Boulevard between N.E. 6th and 7th Avenues. The CRA is seeking a private development partner to build a multi-family project on the site. Cottage District The CRA owns approximately 5 acres on the block between N.E. 4th and 5th Avenue. The CRA’s goal for this site is to attract a private development partner to build single-family for-sale homes in the style of the surrounding historic cottages. MLK Commercial Leveraging CRA-owned land and economic development grants, the CRA was able to bring a Family Dollar store to the Martin Luther King, Jr. Boulevard corridor in 2015. The CRA owns additional land on the corridor and continues to work with developers to attract new and needed neighborhood retail. MLK Multi Family Utilizing CRA-owned land, the CRA is seeking to attract a private development partner to build a multi- family development along the Martin Luther King, Jr. Boulevard corridor. The development may include commercial uses. Figure 65: Sara Sims Expansion Figure 66: Ocean Breeze East Figure 67: Cottage District 1586 116D.District PlansFigure 68: Example of a Commercial Project on MLK Jr. Blvd. 1587 117 Figure 69: Example of Multi Family Project on MLK Jr. Blvd. 1588 1589 1590 A P P R A I S A L R E P O R T VACANT LAND 225 NORTHEAST 9 AVENUE BOYNTON BEACH, FLORIDA 33435 by Vance Real Estate Service 7481 Northwest Fourth Street Plantation, Florida 33317-2204 for Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue Boynton Beach, FL 33435 February 1, 2024 1591 MBA in REAL ESTATE DEVELOPMENT & MANAGEMENT 7481 Northwest 4th Street, Plantation, FL 33317-2204 954/583-2116 vanceval@att.net February 1, 2024 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 RE: Vacant Land, 0.1728 acres, 225 Northeast 9 Avenue, Boynton Beach, FL 33435 (Legal description is in the report.) Ladies and Gentlemen: In fulfillment of our agreement, we transmit our Appraisal Report, in which we develop an opinion of market value for the fee simple estate in the referenced real property as of February 1, 2024. The report sets forth our value conclusion, along with data and reasoning supporting our value opinion. This report was prepared for and our professional fee billed to the client and intended user, Boynton Beach Community Redevelopment Agency. Our analyses have been prepared in conformance with the Uniform Standards of Professional Appraisal Practice. This report is for exclusive use of the client and intended user for possible acquisition of the appraised property. Jesse B. Vance, Jr. and Claudia Vance visited the property. If you have questions or further needs, please contact the undersigned. As a result of our analyses, we have developed the following opinion of market value of the appraised property, subject to definitions, certifications, and limiting conditions set forth in the attached report. ONE HUNDRED NINETY-SIX THOUSAND DOLLARS $196,000 (THIS LETTER MUST REMAIN ATTACHED TO THE REPORT WITH SIXTY-NINE (69) NUMBERED PAGES FOR THE VALUE OPINION SET FORTH TO BE CONSIDERED VALID.) Respectfully submitted, Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser RZ-85 Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 1592 TABLE OF CONTENTS Page Number Title Page i Letter of Transmittal ii Table of Contents iii INTRODUCTION 4 Photographs of the Subject Property 5 1-3-5 Mile Location Map 8 1-3-5 Mile Demographic Statistics 9 Summary of Important Facts and Conclusions 11 DESCRIPTIONS, ANALYSES, & CONCLUSIONS 12 Identity of Client and Intended User 13 Intended Use 13 Identification of Real Estate Appraised 13 Ownership 13 Property Address 13 Legal Description 13 Real Estate Tax Analysis 14 Market Area Description 15 Land Use & Zoning 21 Site Description 23 Real Property Interest Appraised 24 Appraisal Purpose and Definition of Market Value 24 Effective Dates of the Appraisal and Report 25 Scope of the Work 25 Summary of Information Considered 26 Property History 27 Highest and Best Use 27 SALES COMPARISON APPROACH 30 Land Sales location map 31 Land Sales documentation 32 Land Sales Comparison & Adjustment Chart 39 Valuation by the Sales Comparison Approach 40 FINAL VALUE OPINION 44 Certification and Limiting Conditions 45 ADDENDA 47 Acquiring deed 48 Zoning and land use map 49 Boynton Beach CRA recommended land use map 50 “R-2” zoning information 51 “MU” zoning information 59 USPAP Standards Rule 2-2a 61 Qualifications of the Appraisers 65 1593 INTRODUCTION 4 1594 Looking North at Appraised Land 225 NE 9th Avenue Boynton Beach, Florida Looking East at NE 9th Avenue Boynton Beach, Florida 5 1595 Looking West at NE 9th Avenue Boynton Beach, Florida Looking NE at Appraised Land 225 NE 9th Avenue Boynton Beach, Florida 6 1596 SUBJECT AERIAL PHOTO LOCATION 225 NE 9TH AVENUE BOYNTON BEACH, FLORIDA 7 1597 1-3-5 MILE RADII FROM THE VALUED REAL ESTATE 225 NE 9TH AVENUE BOYNTON BEACH, FLORIDA 33435 8 1598 9 1599 10 1600 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS PROPERTY APPRAISED: Vacant lot 225 Northeast 9 Avenue Boynton Beach, FL 33435 OWNERSHIP: Southwest Jefferson, Inc. 6215 Innes Trace Louisville, KY 40222-6008 LAND AREA: Approximately 7,527 square feet or 0.1728 of an acre. Size is from public records. No sketch of survey is available for review. BUILDING IMPROVEMENTS: No structural improvements on the lot ZONING: “R-2”, Single and Two-family Residential District in the city of Boynton Beach LAND USE: MeDR, Medium Density Residential CRA DISTRICT: Heart of Boynton APPRAISAL PURPOSE: To develop an opinion of market value INTEREST APPRAISED: Fee simple CURRENT USE: Vacant HIGHEST AND BEST USE: As vacant: Single user residence or two user residence Future: Assemblage with adjacent lots for attached dwellings with a density of up to 20 dwelling units per acre VALUE BY THE SALES COMPARISON APPROACH: 7,527 square feet x $26.00 per square foot (rounded to) = $196,000 ONE HUNDRED NINETY-SIX THOUSAND DOLLARS VALUATION DATE: February 1, 2024 Exposure Time: 12 months prior to selling at the appraised value. Marketing Time: 12 months immediately following the effective date of appraisal during which time the subject property should sell at the appraised value. 11 1601 DESCRIPTIONS, ANALYSES, CONCLUSIONS 12 1602 APPRAISAL REPORT This is an APPRAISAL REPORT that complies with Standard Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice 2-2(a)(i) State the identity of the client; The client and intended user of this report is the Boynton Beach Community Redevelopment Agency. 2-2(a)(ii) State the identity of any other intended users by name or type; None 2-2(a)(iii) State the intended use of the appraisal; The intended use of the appraisal is for possible acquisition of the appraised property. 2-2(a)(iv) Contain information, documentation, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic property characteristics relevant to the assignment; Owner: Southwest Jefferson, Inc. 6215 Innes Trace Louisville, KY 40222-6008 Property Address: 225 Northeast 9 Avenue Boynton Beach, FL 33435 Legal Description: Lot 166, ARDEN PARK, Plat Book 2, page 96, Palm Beach County, FL Census Tract No. 61 13 1603 APPRAISAL REPORT (continued) Real Estate Tax: Parcel Control Number: 08 43 45 21 18 000 1660 Land Value: $89,468 Improvement Value: -0- Total Value: $89,468 Assessed Value: $25,831 Exemption Amount: - 0 - Taxable Value: $25,831 Ad Valorem Tax: $ 934 Non Ad Valorem Tax: $ - 0 - Total Tax: $ 934 Real estate tax for 2023 is partially paid, with a balance of $574.05 shown on the Palm Beach County Tax Collector’s website. The real estate tax is set up to be paid in installments over the year. There are no outstanding taxes for previous years. Properties are assessed in arrears by the county property appraiser. The tax bill is issued in November and a 4% discount is given to a tax payer if the amount is paid in November. The discount diminishes until March, when the tax is due and payable. In Florida, the taxable (assessed) value for non- homesteaded properties can be increased to a maximum of 10% per year, from tax year 2009 going forward, based on a constitutional amendment voted on by the electorate of the state. There are some exceptions which relate to school taxing districts. However, the millage of the city can increase; thus, real estate taxes can continue to increase from year to year. The 10% per year increase cap accounts for the difference between the Total Value of the appraised property and the Assessed Value. 14 1604 APPRAISAL REPORT Market Area Description: Boundaries and Market Composition & Transportation Infrastructure The general market area is the City of Boynton Beach in eastern -central Palm Beach County. Population of the city is about 79,000 residents; land area of the municipality is about 16 square miles situated between Delray Beach on the south and Lake Worth on the north. The town was named for an early developer, Nathan Boynton, a former major in the Union Army in the Civil War. The city was founded in 1898 and incorporated in 1920. Most of the original buildings were destroyed in the hurricane of 1926, though a few remain. Those few which were constructed in the early 1920s that are still in use have had repairs and replacements over the decades changing their historical significance. Time and economic trends take a toll on properties; thus, in 1984 a redevelopment plan was adopted for the Community Redevelopment Area (CRA) in the city. It covers 1,650 acres in the central part of the municipality west of the Intracoastal Waterway. Agriculture and farming had been important activities in past centuries in Boynton Beach. Commerce came to the area when Henry Flagler extended the Florida East Coast Railway from West Palm Beach to Miami in 1896. The railroad was the main mode of transportation to bring visitors and manufactured products to the town as well as transporting produce grown in the vicinity out of the area to other cities in the southeastern United States. Freight trains still run through the subject market area on the FEC tracts. Higher speed, passenger Brightline train runs along the FEC tract, but does not stop in Boynton Beach. There are depots in downtown Miami, downtown Fort Lauderdale and downtown West Palm Beach. Boca Raton, Aventura, Port of Miami are added to the list. Rail service to Orlando is operating. In the future, there may be commuter rail service along the FEC tracks with a station in downtown Boynton Beach; however, no plans have been announced. 15 1605 APPRAISAL REPORT (continued) The immediate subject market area is one of the districts in the CRA known as the Heart of Boynton (HOB), containing 380 acres. This area is the historic, older part of the CRA, with the following boundaries: Boynton Beach Canal (C-16) on the north, Florida East Coast (FEC) Railroad on the east, Interstate 95 on the west, and jagged line a few blocks north of Boynton Beach Boulevard as the south boundary, at about NE 3 Avenue. The CRA has concentrated funds and effort into revitalizing the area with new housing options and upgraded streetscapes. The CRA has purchased numerous smaller properties to assemble larger sites for redevelopment of mixed use projects. To the east of the FEC Railroad is U S Highway 1, also known as Federal Highway, the main north -south artery through eastern Palm Beach County and extends along the eastern seaboard of the United States. Heavily trafficked Federal Highway is a catalyst to redevelopment of the general market area, with residential projects planned and completed. Highway beautification projects enhanced the aesthetics of the market area. Individual properties on the east and west side of the highway have shallow depths, inhibiting redevelopment of the sites with larger commercial projects. Assemblages of adjacent properties and rezoning to mixed use will continue to facilitate revitalization of the subject market area. Seacrest Boulevard is a main north-south artery through the City of Boynton Beach and south into Delray Beach. Martin Luther King, Jr. Boulevard is an east-west thoroughfare through the Heart of Boynton. The subject market area is easily accessible by main roads and Interstate 95. Property types in the Heart of Boynton are smaller commercial establishments along the main roads, light industrial close to the FEC Railroad, municipal facilities, single family residential, small multi-family dwellings, a few apartment buildings and places of worship. As mentioned, some structures date back to the 1920’s, but most which are still usable were built in the mid-twentieth century. Municipal facilities in the immediate subject market area include parks, two elementary schools and a community center. 16 1606 APPRAISAL REPORT Projects completed in the Heart of Boynton are: • Seacrest Boulevard Streetscape • Carolyn Sims Center • Ocean Breeze West - 21 homes –joint venture with Habitat for Humanity • Construction of single family residences on Martin Luther King, Jr. Boulevard and on NW 11 Avenue, west of Seacrest Boulevard Projects in progress are: • Higher density residential buildings and commercial buildings on Martin Luther King, Jr. Boulevard • Redevelopment of the Public Works site • Establishment of mixed use districts of residential and commercial • Expansion of light industrial near the FEC Railroad • Enhancements to Sara Sims Park including landscaping, pavilions, picnic facilities, lighting and security. Population Trends The demographic survey in the beginning of the report of 1, 3, and 5 mile radial circles from the appraised property shows the median household income for 2023 in the one-mile radius is $54,474, for three miles it is $63,490, and $66,737 for the five mile circle. Median household income for Palm Beach County is $68,900. In the one-mile circle, population is 18,001. In three miles, population increases to 95,673; at five miles, it is 202,576. However, about 40% of the three and five mile circles are over the Atlantic Ocean and waterways. Annual growth rate in the one-mile circle for the next five years is anticipated to be high at 1.36%, with new multi-family residential complexes being constructed in central Boynton Beach. Annual growth rates in the three and five mile circles are slower at 0.28% and 0.12%. 55% of the housing units are owner occupied, with 30% rented. This percentage of renters is high for Palm Beach County because there are numerous multi-family dwellings in this vicinity. Vacancy is reported to be 15%; however, this amount is elevated due to the undercount of the other two categories as some residents are seasonal and not counted. Median home value in the five-mile area is $351,521 including the highly priced homes fronting the Atlantic Ocean and Intracoastal Waterway, compared to median home value of $308,943 in the United States. 17 1607 APPRAISAL REPORT Economic Trends In South Florida, as in the rest of the United States, real estate prices climbed from 2003-2006. In 2007-2008, concerns were expressed about an unsustainable upward price trend in the market. Then, the economic collapse came in fall of 2008 along with the crash in real estate prices. In 2009, there were very few sales of any type of real estate. By 2010, it appeared that the worst was over. Cash buyers started making purchases. From 2013 to 2022, sales activity and prices recuperated. The upswing in prices is due in part to scarcity of developable land. Properties were back to pre-crash prices and in most cases exceeded that level. The upward trend in real estate prices and volume of sales significantly diminished in the recent past year due to the increase in interest rates and building materials. Sales volume in 2023 was 75% lower than in 2022 across the real estate board. Some new construction projects were halted and some planned did not commence. The subject market area has examples of each case. The life cycle stage of the market area is revitalization, a period of renewal, modernization, and increasing demand. This revitalization is occurring throughout the CRA area and is influencing activity in each district. The catalyst of the revitalization in the Downtown District was 500 Ocean fronting Federal Highway, consisting of 341 residential units, 20,000 square feet of retail space and 6,000 square feet of office. Several other mixed-use projects are planned along Federal Highway such as Ocean One at 114 N Federal Highway which was finally approved for 371 apartments, 25,588 square feet of retail, and 450 parking spaces. Davis Camalier sold the site to Hyperion Group for $78.98 per square foot in December, 2021. Another Federal Highway project is comprised of thirteen parcels beginning at the northeast corner of North Federal Highway and SE 2 Avenue, then extending east. All of the existing improvements were demolished and removed to make way for Broadstone at Boynton Beach, a mixed use project with 274 dwelling unit and 13,110 square feet of retail space. Land unit sale price equates to $83.18 per square foot in May, 2022 for the initial transaction. With the project underway, there was a second sale to another developer and construction has stopped for now. 18 1608 APPRAISAL REPORT Boynton Beach Community Redevelopment Agency (CRA) accepted the proposal from Affiliated Development from five submissions to build a mixed- use project at 115 North Federal Highway. The CRA had purchased the property when improved with a church and subsequently demolished it. The size of the land offered by the CRA was 2.28 acres, including parking lots and the recent purchase of 508 East Boynton Beach Boulevard. Land purchase by Affiliated Development has not been finalized. The proposed project will b e called the Pierce, for the legendary Barefoot Mailman, Charlie Pierce. Project size will be 236 apartments, 16,800 square feet of restaurant, retail and office, and 600 space parking garage. 150 of the apartments would be for workforce housing units. Boynton Beach CRA purchased the property at 511-529 East Ocean Avenue where Hurricane Alley Raw Bar & Restaurant is located. Purchase price was $3,600,000. This property consists of three buildings with a total size of approximately 17,201 square feet on a site of 17,903 square feet. It is in the block to the south of 115 North Federal Highway and will become part of the Pierce project. Town Square, a major redevelopment project to the west of Federal Highway, covers three blocks from the south side of Boynton Beach Boulevard south to SE 2 Avenue, encompassing 16.5 acres of land. The north section covers the area of the old city hall and police station which were demolished and removed. For several years, the north and south sections of the project have sat vacant. The middle section was improved with a new City Hall, library, park, museum, amphitheatre and fire station. The former school was preserved. In April, 2023, the north and south sections were sold to Boynton Beach Town Center for a price of $44 million or approximately $126 per square foot of land. The master plan for the parcels include: o 900 residential rental units o 24,000 square feet of retail space o Parking garage for 2,000 vehicles, with 500 of these spaces for city use In addition to the transfer of the ownership of the land, other agreements and considerations were made such as a 100 year parking lease agreement with the City. The Town Square project completion is the force for other pending mixed -use projects to move forward. 19 1609 APPRAISAL REPORT In the Heart of Boynton CRA district, Ocean Breeze East is completed at 700 North Seacrest Boulevard. The development is an affordable apartment project containing 123 units, retail space, clubhouse and swimming pool. The project came about by the Boynton Beach Community Redevelopment Agency selling the land and the Florida Housing Finance Corporation and TD Bank providing the financing. In the Heart of Boynton CRA district, Heart of Boynton Villages and Shops is under construction fronting the north and south sides of East Martin Luther King, Jr. Boulevard, east of Seacrest Boulevard. There will be 124 residential units, 8,530 square feet of commercial space and 218 surface parking spaces. Part of the land was transferred from the Boynton Beach CRA to Wells Landing Apartments, LLC. Wells Landing purchased four parcels from a private property owner to complete the site for the new project. Funding for the project was awarded to the property owner from the Florida Housing Finance Corporation. This project is anticipated to bring about more development along MLK Boulevard and surrounding avenues. At the southeast corner of Seacrest Boulevard and East Martin Luther King, Jr. Boulevard, the store was purchased and opened as Dollar Tree. A large section of the Cottage District from NE 4 Avenue to NE 5 Avenue, between Seacrest Boulevard and NE 1 Street is planned to be developed by Pulte Homes with workforce housing. Parcel size is 4.6513 acres, comprised of smaller lots acquired over many years to assemble a large tract of land for a transformation of a substantial part of the area. Plans are for 41 for-sale units, consisting of 19 single-family houses and 22 townhouses. Conclusion The town’s redevelopment goal is to transform Boynton Beach from a retirement community to a vibrant city where residents can enjoy living and working in an attractive setting. Boynton Beach Community Redevelopment Agency is instrumental in the renaissance of the city. The immediate subject market area of the Heart of Boynton (HOB) has the components of an appealing neighborhood with schools, parks and recreation. HOB is easily accessible by main roads and Interstate 95. 20 1610 APPRAISAL REPORT Goods and services are nearby on Boynton Beach Boulevard and U S Highway 1. With the involvement of the City of Boynton Beach and the Community Redevelopment Agency, Heart of Boynton Community Redevelopment Plan can continue to succeed in revitalizing the area. The transformation of the area is in progress. Development of real estate takes time and the right market conditions which have been positive. Upward price trend for property in the subject market area should continue as the demand for it is greater than the supply. Platting: The appraised land is one lot in an old plat, recorded prior to the effective date of current zoning regulations. Land Use: Land use is MeDR, Medium Density Residential, maximum density 9.58 dwelling units per acre. Zoning: “R -2”, Single and Two-family Residential District with the purpose to implement the medium density residential future land use map classification of the comprehensive plan. The intent of the district is to stabilize and protect existing residential neighborhoods with density no greater than 10 dwelling units per acre, and allow limited types of non-residential uses. Minimum lot area is 4,500 square feet per unit for a duplex; minimum lot frontage is 75 feet. There is a provision for a site with two lots platted prior to the enacting of the current zoning regulation to be improved with a duplex. Single family dwellings shall be constructed on lots that are no less than 6,000 square feet with a width of at least 60 feet and follow the building and site regulations of the “R -1”, Single Family District. 21 1611 APPRAISAL REPORT The appraised land has approximate dimensions of 50 feet x 150 feet = 7,500 square feet (7,527 square feet on the tax roll). The size meets the standard for a single family lot in the “R-1” zoning; however, the width is substandard. Since the lot was platted prior to the current code being in effect, the lot would most likely be able to be developed as a legally non-conforming site; however, city officials make this determination. For the “R-2” district, current required size is 4,500 square feet per unit. The subject lot is less than 9,000 square feet. Again, it may be permitted to be improved with a two-user dwelling; city officials decide the permitted use. Boynton Beach Community Redevelopment plan for the lot is for low density mixed use of a maximum of 20 dwelling units per acre. To achieve this density, parcel size has to be one-half acre or 21,780 square feet. Hence, the lot concerned would have to be assembled with adjacent lots to meet the size standard for a possible land use change. Such a change would have to be initiated by the property owner s. In contract to the subject, the land to the west is being improved with Heart of Boynton Villages and Shops, fronting the south side of NE 10 Avenue; its land use is mixed use 50 dwelling units per acre. This land use was changed by the city a while back. 22 1612 APPRAISAL REPORT Site Description: The shape of the site is a rectangular. Approximate dimensions are from public records; size is from the Palm Beach County tax roll. North boundary on adjacent property: 50 feet East boundary on adjacent property: 150 feet S boundary on NE 9 Avenue: 50 feet West boundary on adjacent property: 150 feet Land size is approximately 7,500 square feet (7,527 square feet on the tax roll). Utilities: All utilities are available to the site. Access: The site is accessible via NE 9 Avenue, a two-laned local road. It is one block south of Martin Luther King, Jr. Boulevard (NE 10 Avenue), an east-west thoroughfare through the Heart of Boynton district. NE 9 Avenue intersects with Seacrest Boulevard to the west and North Railroad Avenue to the east. NE 9 Avenue has streetlights, but no sidewalks. Easements: Easements are not noted on the original plat. If they exist, utility easements would be most probably around the perimeter of the lot. Improvement Description: There are no structural improvements on the site. Environmental Assessment: No assessment was available for review. 23 1613 APPRAISAL REPORT 2-2(a) (v) State the real property interest appraised; A person who owns all the property rights is said to have fee simple title. A fee simple title implies absolute ownership unencumbered by any other interest or estate. Partial interests in real estate are created by selling, leasing, et cetera. Partial estates include leased fee and leasehold estates. The interest appraised is fee simple. 2-2(a)(vi) State the type and definition of value and cite the source of the definition; The purpose of the appraisal is to develop an opinion of market value of the subject property as of February 1, 2024. MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal. The conditions included in market value definitions establish market perspectives for development of the opinion. These conditions may vary from definition to definition but generally fall into three categories as follows. 1. the relationship, knowledge, and motivation of the parties (i.e., seller and buyer); 2. the terms of sale (e.g., cash, cash equivalent, or other terms); and 3. the conditions of sale (e.g., exposure in a competitive market for a reasonable time prior to sale). Market value appraisals are distinct from appraisals completed for other purposes because market value appraisals are based on a market perspective and on a normal or typical premise. These criteria are illustrated in the following definition of Market Value*, provided here only as an example. Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions as follows. 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. 24 1614 APPRAISAL REPORT * This example definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated December, 2010. Florida Court Definition: “Market Value is the price that a seller willing, but not compelled to sell, and a buyer willing, but not compelled to buy, would agree to in fair negotiations with knowledge of all the facts.” [Source: Fla. Power & Light Co., v. Jennings, 518 So.2d 895 (Fla. 1987)] 2-2(a)(vii) State the effective date of the appraisal and the date of the report; A) Effective Date of the Appraisal: February 1, 2024 B) Date of the Report: February 1, 2024 2-2(a)(viii) Summarize the scope of work used to develop the appraisal; The appraisal problem is to develop an opinion of value of the property based on its highest and best use. The appraisers visited the property. An investigation was made into the physical characteristics of the property that could affect its value. The market area was surveyed to determine its stage of the life cycle. Research was conducted to ascertain economic factors that might influence value. Data research consisted of collecting, confirming, and reporting land sales. The process included searches and analyses, inspections and confirmations, and final reporting. The appraiser examined several sources of sales data, including multiple listing service, Palm Beach County Property Appraiser’s records, the public records, and data from the appraisers’ plant. 2-2(a)(ix) Summarize the extent of any significant real property appraisal assistance; The two signatory appraisers are the only people involved in the appraisal process. 25 1615 APPRAISAL REPORT 2-2(a)(x)(1) Summarize the appraisal methods and techniques employed; (2) State the reasons for excluding any of the valuation approaches; (3) Summarize the results of analyzing the subject sales, options and listings; (4) State the value opinion and conclusion (5) Summarize the information analyzed and the reasoning that supports the analyses, opinions, and conclusions For Sales Comparison Approach, land sales are compared to each other and to the property under appraisement to arrive at an opinion of value. The information analyzed and the appraisal method used is detailed in the valuation section of the report. Further, the reasoning that supports the analyses, opinions, and conclusions is explained in the valuation section. Cost Approach is not used because no permanent structures were considered in the valuation. The Income Approach is not employed in this appraisal because most sites like the subject are purchased and not leased. Exclusion of these approaches to value still produces a creditable report. The value opinion and conclusion is stated at the end of the Sales Comparison Approach – Land Valuation. SR 1-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; There are no agreements for sale, options or listings as of the effect date of appraisal. 26 1616 APPRAISAL REPORT b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. The last transfer of ownership by a warranty deed was on May 31, 1995 for $30,000. A copy of the deed is in the Addenda. There were two transfers between related parties after that. The 1995 sale occurred too far in the past to be of any significance in the current valuation. 2-2(a)(x i) State the use of the real estate existing as of the effective date and use of the real estate reflected in the appraisal; The use of the real estate on the date of valuation is vacant land, and it is this use which is reflected in the appraisal. No personal property is included in the valuation. 2-2(a)(xii) When an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Physically Possible as Vacant The land appraised is a plat lot containing about 7,527 square feet. It fronts a two-laned local avenue one block south of Martin Luther King, Jr. Boulevard, a main neighborhood thoroughfare. The site is accessible via NE 9 Avenue, between Seacrest Boulevard to the west and North Railroad Avenue to the east. The rectangular parcel is level and filled to street grade. All utilities are available to the site. No soil or subsoil tests were available for review to ascertain if the appraised land is capable of supporting buildings. However, surrounding properties have been improved with one or two-story building for over 100 years. Physical constraint to develop the site is its size which governs the size and number of the potential improvements that can be placed on it. 27 1617 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Legally Permissible as Vacant Legal restrictions to the development of the site consist of land use designation, building and zoning codes, platting restrictions and restrictive covenants. Zoning is “R-2”, Single and Two-family Residential District. Minimum lot area is 4,500 square feet per unit for a duplex; minimum lot frontage is 75 feet. The subject land size is 7,527 square feet and 50 foot width. For single family use, requirements are lot size of 6,000 square feet and width of 60 feet. An excerpt from Nonconforming Regulations for Lots and Parcels is in the Addenda. Interpretation and enforcement of the zoning code are done by City officials. Nevertheless, it is reasonably probable that the appraised land would be permitted to be improved with a single family residence in keeping with the aim of home ownership in the Heart of Boynton CRA district. If the subject lot were combined with an adjacent lot(s), potentially they could be improved with one or more two-family residences. City officials would determine the density of a permitted residential project on the appraised site. Financially Feasible as Vacant The third test of Highest and Best Use is economic feasibility. Demand for a certain property type must be evident for it to be feasible. For it to be financially feasible, the use must be marketable and provide the investor with a competitive return when compared with alternate uses. The subject market area has been improved with single-family residences and small multi-family dwellings for almost 100 years. Structures come to the end of their useful lives, improvements are razed and the sites are redeveloped with modern projects. There are examples of this cycle throughout the subject market area. Redevelopment projects in the subject vicinity are Ocean Breeze West with 21 homes, Eastview Park by D R Horton, and new houses on West Martin Luther King, Jr. Boulevard. Habitat for Humanity will be constructing single family residences on NW 11 Avenue. Where larger sites can be assembled, higher density multi-family or attached dwellings are being constructed such as Ocean Breeze East and Heart of Boynton Villages and Shops. With a small amount of vacant land remaining in densely populated eastern Palm Beach County, it has to have a higher yield with more dwelling units per acre calling for these attached or multi-family projects. 28 1618 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Financially feasible use of the appraised land is to assemble it with as many lots as possible and construct an attached or multi-dwelling project that would be permissible in the already in place Land Use of Medium Density Residential, with a density of 9.58 dwelling units per acre or in a future land use category of mixed use low density of 20 dwelling units per acre. The most probable buyer for the site is a local developer familiar with the revitalization that is occurring in the subject market area. Time for development is development is now with renewed interest in the neighborhood and support from the Boynton Beach Community Redevelopment Agency. Maximally Productive as Vacant In summary, the current Highest and Best Use of the property appraised as vacant is for a single user residence or a two-user residence. Such use would be physically possible, probably legally permissible, financially feasible and maximally productive. Future highest and best use is for attached or multi- family residences with greater density. 2-2(a) (xiii) Clearly and Conspicuously: State all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment result. There are no extraordinary assumptions or hypothetical conditions in this report. 2-2(a) (xiv) Include a signed certification in accordance with Standards Rule 2-1 See signed certification in report. 29 1619 SALES COMPARISON APPROACH LAND VALUATION 30 1620 31 1621 Land Sale 2 Land Sale 3 Land Sale 1 Land Sale 2 LAND SALES AERIAL VIEW 32 1622 AERIAL VIEW OF LAND SALE 5 1084 Highland Road, Unincorporated Palm Beach County, FL 33 1623 VACANT LAND SALES SALE NO. 1 LEGAL DESCRIPTION Lot 484, Cherry Hills, Plat Book 4, Page 58, Public Records of Palm Beach County, Florida. RECORDED O. R. Book 33776, page 1415 , Palm Beach County, FL Public Records. GRANTOR JT and NH Ventures, LLC GRANTEE Vasos Sagrados, LLC DATE OF SALE August 11, 2022 LOCATION 410 NW 13th Avenue, Boynton Beach, Florida ZONING “R-2” Duplex, 10 DU per Acre (08 Boynton Beach, FL) SALE PRICE $76,000 LAND SIZE 2,748 square feet (0.0631 acres) UNITS OF COMPARISON $27.66/square foot of Land PARCEL CONTROL NO. 08-43-45-21-14-000-4840 CONDITIONS OF SALE Arm’s length cash transaction. COMMENTS Vacant lot sale. 34 1624 VACANT LAND SALES SALE NO. 2 LEGAL DESCRIPTION Lot 420, Cherry Hills, Plat Book 4, Page 58, Public Records of Palm Beach County, Florida. RECORDED O. R. Book 33776, page 1424 , Palm Beach County, FL Public Records. GRANTOR JT and NH Ventures, LLC GRANTEE Vasos Sagrados, LLC DATE OF SALE August 11, 2022 LOCATION 409 NW 12 Avenue, Boynton Beach, Florida ZONING “R-2” Duplex, 10 DU per Acre (08 Boynton Beach, FL) SALE PRICE $76,000 LAND SIZE 2,627 square feet (0.0603 acres) UNITS OF COMPARISON $28.93/square foot of Land PARCEL CONTROL NO. 08-43-45-21-14-000-4200 CONDITIONS OF SALE Arm’s length cash transaction. COMMENTS Vacant lot sale. 35 1625 VACANT LAND SALES SALE NO. 3 LEGAL DESCRIPTION Lot s 467, 468, 469 and 470, Cherry Hills, Plat Book 4, Page 58, Public Records of Palm Beach County, Florida. RECORDED O. R. Book 33942, page 1481 , Palm Beach County, FL Public Records. GRANTOR Freedom, 513 LLC GRANTEE Molinares Home, LLC DATE OF SALE October 31, 2022 LOCATION 502 NW 13th Avenue, Boynton Beach, Florida ZONING “R-2” Duplex, 10 DU per Acre (08 Boynton Beach, FL) SALE PRICE $170,000 LAND SIZE 10,890 square feet (0.25 acres) UNITS OF COMPARISON $15.61/square foot of Land PARCEL CONTROL NO. 08-43-45-21-14-000-4670 CONDITIONS OF SALE Arm’s length cash transaction. COMMENTS Vacant lot sale. 36 1626 VACANT LAND SALES SALE NO. 4 LEGAL DESCRIPTION The East ½ of Lot 382, and all of Lot 383, Cherry Hills, Plat Book 4, Page 58, Public Records of Palm Beach County, Florida. RECORDED O. R. Book 34,509, page 115 , Palm Beach County, FL Public Records. GRANTOR Dixieland Ranch, LLC GRANTEE TNR Global, LLC DATE OF SALE August 17, 2023 LOCATION 530 NW 12th Avenue, Boynton Beach, Florida ZONING “R-2” Duplex, 10 DU per Acre (08 Boynton Beach, FL) SALE PRICE $122,000 LAND SIZE 3,920 square feet (0.09 acres) UNITS OF COMPARISON $31.12/square foot of Land PARCEL CONTROL NO. 08-43-45-21-14-000-3821 CONDITIONS OF SALE Arm’s length cash transaction. COMMENTS Vacant lot sale. 37 1627 VACANT LAND SALES SALE NO. 5 LEGAL DESCRIPTION Lot 45, River Grove, Plat Book 22, Page 8, Public Records of Palm Beach County, Florida. RECORDED O. R. Book 34614, page 1452 , Palm Beach County, FL Public Records. GRANTOR Daniel Tucci-Caselli, a married man, GRANTEE Mathilda Morency, Single Woman, and Mikelson MomPremier and Kenya MomPremier, husband and wife right of survivorship. DATE OF SALE October 9, 2023 LOCATION 1084 Highland Road, Unincorporated Palm Beach County, Florida ZONING “R-M” Multi-Family (Medium Density) (00-Unincorporated) SALE PRICE $100,000 LAND SIZE 4,003 square feet (0.0919 acres) UNITS OF COMPARISON $24.98/square foot of Land PARCEL CONTROL NO. 08-43-45-09-08-000-0450 CONDITIONS OF SALE Arm’s length cash transaction. COMMENTS Vacant lot sale. 38 1628 LAND SALE COMPARISON & ADJUSTMENT CHART TRANSACTIONAL ADJUSTMENTS LAND SALE PRICE SALE LAND SIZE Market Conditions Market Adjusted Adjusted Price SALE PRICE/ SF DATE Sq.Ft.ZONING +5%/year Sale Price Per Sq.Ft. 1 410 NW 13 Avenue $76,000 August 11, 2022 2,748 "R-2" Duplex $5,700 $81,700 $29.73 Boynton Beach, Florida Inferior + 7.50% 2 409 NW 12 Avenue $76,000 August 11, 2022 2,627 "R-2" Duplex $5,700 $81,700 $31.10 Boynton Beach, Florida Inferior + 7.50% 3 502 NW 13th Avenue $170,000 October 31, 2022 10,890 "R-2" Duplex $12,070 $182,070 $16.72 Boynton Beach, Florida Inferior + 7.10% 4 530 NW 12th Avenue $122,000 August 17, 2023 3,920 "R-2" Duplex $3,050 $125,050 $31.90 Boynton Beach, Florida Inferior +2.50% 5 1084 Highland Road $100,000 October 9, 2023 4,003 "R-M" MF $1,650 $101,650 $25.39 Unincorp Palm Bch Cty, Fla Inferior + 1.65% SUBJECT Value Unit Value 225 NE 9th Avenue $196,000 02/01/2024 7,527 "R-2" Duplex ----------$26.00 Boynton Beach, Florida 39 1629 SALES COMPARISON APPROACH LAND VALUATION Of the several methods to develop an opinion of land value, the one considered the most reliable is the Sales Comparison Approach. In this method, sales of similar vacant parcels are compared to the site concerned; then adjusted for differences to arrive at land value. The steps of Sales Comparison in Land Valuation are: 1) Locate and collect information of recent sales of sites most similar to the land being appraised. 2) Verify the sales information with the most reliable sources, including details of financing and any special considerations or non-typical market features. 3) Select relevant units of comparison and develop a comparative analysis. 4) Compare and adjust the sales to the subject using significant, market-derived units of comparison. 5) Reconcile all value indications from the comparisons into a value opinion by this approach. The appraised property consists of one platted lot at 225 NE 9 Avenue, Boynton Beach, FL. Land size is approximately 7,527 square feet; zoning is “R-2”, one or two-user dwelling in the city of Boynton Beach, FL. Highest and best use for the appraised property is a single family dwelling or a duplex. Future use with a land use change, if possible is to assemble it with adjacent lots, is for a residential project with a maximum density of 20 dwelling units per acre. Fee simple interest of the market value of the land is developed in this Sales Comparison Approach. A search was made to find recent sales of sites in the immediate subject market area or in similar areas. A property-by-property search was conducted in the Heart of Boynton CRA district. As mentioned, the volume of sales drastically dropped in 2023; thus, transactions from 2022 had to be considered in this approach to value. In October 2021, the Palm Beach County Housing Authority auctioned approximately 40 lots that it had acquired over the decades. These lots accounted for most of the vacant lots in the Heart of Boynton district. None of auction transactions were cited in this Sales Comparison Approach; however, resales of lots from one private party to another are included due to their constituting most of the sales activity in the subject market area. Land Sales 1, 2, 3 and 4 are such resales. Land Sale 5 is a lot to the north, outside of the subject market area. It demonstrates that the resales are in the range of current transactions for lots that could be improved with one or two-user dwellings in central Palm Beach County. All of the sales were verified through public records and parties familiar with the transactions. Details of the transactions are on the sale sheets and chart. There is one listing for sale in the subject market area of a property with a garage, no house, on it at 137 NE 3 Avenue, Boynton Beach, FL. Asking price is $335,000 with a pending for sale notice on the listing. This listing is mentioned for informational purposes; only closed sales are used in this analysis. (Continued) 40 1630 SALES COMPARISON APPROACH (Continued) The unit of comparison used by buyers and sellers of this type of property is the Sale Price per Square Foot of Land. The range of unit prices of the sales is from $47.48 to $70.53 per square foot, before adjustment. ELEMENTS OF COMPARISON Elements of comparison are the characteristics of transactions and properties that cause variation in prices paid for real estate. The Appraisal of Real Estate states that there are several basic elements of comparison that may be considered in sales comparison analysis for land valuation. The first group is termed transactional elements being: real property rights conveyed, financing terms, conditions of sale and market conditions. Adjustments for transactional elements are made, then, attention is focused on the second group, property elements. This second group of property elements consists of location, physical characteristics and use. Real Property Rights Conveyed A transaction price is always predicated on the real property interest conveyed. Property interests conveyed can either be fee simple (without tenants) or leased fee (subject to leases). An adjustment for property rights conveyed is based on whether a leased fee interest was sold with leases at, below, or above market rent. The interest valued for the subject property is fee simple. The sales were all conveyances of fee simple interests without leases or easements which were significant enough to affect the price. No adjustment is necessary for this element of comparison. Financing Terms Financing terms may have a bearing on the price paid for a property. Such terms that may affect price include assuming a mortgage at lower than current interest rates, the seller paying a buydown for the buyer to have a lower interest rate, or the seller providing financing for a transaction at lower than typical institutional rates. In all of these cases, the buyer could have paid higher prices in such transactions to obtain favorable financing. The reverse is also a possibility in which lower sale prices result from above market financing. Land Sales 1, 2, 3, 4 and 5 were cash transactions, the typical way of purchasing small tracts of land. No adjustment is made for this element of comparison. Conditions of Sale Condition of sale addresses the motivation of buyers and sellers. Such motivations include a seller accepting a lower than market price for needed cash, a lender selling a previously foreclosed property to comply with regulations imposed on the institution, or a buyer purchasing an adjacent property. Even arm's length transactions may be the result of atypical motivation, such as lack of exposure time to the market, the result of an eminent domain proceeding, or tax consideration. (Continued) 41 1631 SALES COMPARISON APPROACH (Continued) None of the land sales are transactions by lenders after foreclosures of prior mortgages on the properties. Grantees appeared to have purchased the lots for the construction of single-user houses for sale. Notices of commencement for the construction of houses were recorded for Land Sales 1 and 2. Conditions of sale for the transfers were typical for markets in the life stage of revitalization, with no adjustments necessary. Market Conditions Comparable sales that occurred under different market conditions than those applicable to the subject on the effective date of the value estimate require adjustment for any differences that affect their value. The most common adjustment for market condition is time; however, the passage of time itself is not the cause of the adjustment. Market conditions which change over time are the reason to make the adjustment, such as appreciation or depreciation due to building inventory, changes in tax laws, investor's criteria, building moratoriums, fluctuation in supply and demand, et cetera. It is also possible that there is no change in market condition over time. Two of the sales occurred in 2023, and three in 2022. Some properties have had a significant increase in price during the past few years. Such increases are characteristic of the market due in part to scarcity of properties for sale and lack of land for more building. The high percentage of increase may not be representative of the price trend going forward. For buyers wanting to finance transactions, the rise in interest rates is negatively affecting the prices they can pay. Volume of sales has dropped significantly in 2023 due to the increased interest rates and buyers’ unwillingness to pay higher prices. The inflation rate in 2021 was 4.7%; in 2022, it was 8.0%. The rate began in 2023 at 6.4%, moving down to 3.4%, currently. A decrease in the inflation rate will take time to move through the financial channels and become part of the matrix that affects real estate prices. Despite the dearth of 2023 sales and slowing inflation, the change in market conditions is still positive at a moderate 5% annually. Each of the sales is adjusted upward 5% annually for market conditions to the effective date of appraisal. The amounts of the adjustments are shown on the chart. Adjustments for transactional elements of comparison were considered; now, property elements of comparison are addressed. Location The location of a property is a key factor in prompting a buyer to purchase it. Location encompasses many aspects such as road frontage, access, proximity to other competing properties, proximity to a market that will use the goods and services housed in a property, governmental influences, average daily traffic flow, etc. Typically, properties in a neighborhood share some of the same locational characteristics such as age, condition, and style. (Continued) 42 1632 SALES COMPARISON APPROACH (Continued) The appraised site and Land Sales 1, 2, 3 and 4 are in the Heart of Boynton CRA district. The lot under appraisement is closer to the new development of Heart of Boynton Villages and Shops; however, there has not been a recent land sale in that vicinity to show if it would have a greater unit sale price than the land sales west of Seacrest Boulevard. The land concerned and all of the land sales are platted. Zoning district for the subject is “R-2”, one or two-user dwellings; Land Sales 1, 2, 3 and 4 are in the same zoning district. Land use for all of these parcels is medium density residential. Until the land use is changed, Sales 1-4 have a similar future development potential as the subject. Land Sale 5 is in a similar zoning district as the other sales of residential medium density. Nevertheless, the likelihood of a future land use change is greater for the subject than for the land sales and is considered qualitatively in the final reconciliation. Physical Characteristics Physical characteristics to be considered for adjustments are those that cause a difference in price to be paid by the market. A wide range of such items includes land size, shape, frontage, depth, topography, view, access, functional utility, degree of readiness for development, et cetera. The main physical difference among the subject and the sales is size of the parcel. Land Sales 1 and 2 are each one very small lot. No. 3 consists of four contiguous lots, largest site in the data set. Sale 4 consists of 1.5 lots; No. 5 is one lot. The lots in the subject plat are of larger size than in the plats of the sales. The land sales exhibit a typical relationship of smaller sized lots selling for higher unit sale prices because there are fewer square feet over which the price can be distributed for the same land use. The subject’s size would put its unit value in the mid-range. There does not appear to be a direct relationship between land size and price per square foot. Each sale parcel meets the size standard in its current zoning district for independent development. Sales 1, 2 and 3, like the subject, are vacant parcels. Sales 4 and 5 have old improvements on them that will be demolished and removed to improve the sites to their highest and best uses. The stage of development for Sales 1 and 4 is superior to the subject and the other sales. Sale 1 was sold with a city approved plan for a project of a three-story office building. No. 4 was sold with a city approved plan for Villages of East Ocean Avenue with 371 apartments and 15,757 square feet of commercial space. The grantee plans to make minor changes to update it to meet current tastes. Reaching this point in the development process takes time and funds to accomplish. Sales 1 and 4 are each adjusted downward 10% for stage of development. The adjustment amounts are shown on the chart. Use For properties to be comparable, they should have similar uses. Highest and best use for the subject is for a one or two-user dwelling. Highest and best use for the land sales is the same. Greater density may come about through the assemblage with adjacent lots and a land use change, but that would take property owner initiative to accomplish. No adjustment is made for this element of comparison. 43 1633 SALES COMPARISON APPROACH (Continued) FINAL VALUE OPINION Following is a summary of the adjusted square foot unit sale prices for the five sales. Sale No. Adjusted Sale Price/ SF 1 $29.73 2 $31.10 3 $16.72 4 $31.90 5 $25.39 The land sales are adjusted for market conditions. The adjusted unit prices reveal the relationship of smaller sized parcels typically have higher unit prices. Following that pattern, the mid-sized subject parcel would have a unit value in the mid-range of the adjusted unit sale prices. Affecting the potential sale price for the subject is its greater probability of a future land use change permitting higher density if assembled with adjacent lots. This possibility moves the unit value of the subject to the upper-middle of the adjusted unit sale price range. Considering the foregoing discussion, the unit value for the subject is $26.00 per square foot. The quantity of the comparable data is sufficient to have an overview of the market for lots in the subject market area and similar areas. The quality of the data is good in that it provides a sound basis to develop an opinion of value for the property under appraisement. Based on the analysis and conclusions presented within the report, it is our opinion that the Market Value of the Fee Simple Estate of the Subject Property, as of February 1, 2024 is: $26.00/sq.ft. of land x 7,527 square feet of land = $196,000 ONE HUNDRED NINETY-SIX THOUSAND DOLLARS 44 1634 CERTIFICATION I certify that, to the best of my knowledge and belief, the statements contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. The analyses, opinions and conclusions were also developed and the report prepared in conformity with the Uniform Standards of Professional Appraisal Practice, which is included in the Appraisal Institute's Standards, and Chapter 475, Part II F.S. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. The use of this report is (also) subject to the requirements of the State of Florida relating to review by the Florida Real Estate Appraisal Board. I have visited the property that is the subject of this report on January 16, 2024. Jesse B. Vance, Jr. and Claudia Vance are responsible for the analyses, conclusions and opinions concerning real estate set forth in this report. No one else has provided significant professional service to the persons signing this certification. The Appraisal Institute and the American Society of Appraisers each conduct programs of continuing education for their designated members. As of the date of this report, Jesse B. Vance, Jr. and Claudia Vance have completed the continuing education program for Designated Members of the Appraisal Institute. Continuing education programs are also completed for the American Society of Appraisers and the State of Florida. February 1, 2024 Jesse B. Vance, Jr., MAI, SRA, ASA Florida State-Certified General Real Estate Appraiser No. RZ-85 February 1, 2024 Claudia Vance, MAI Florida State-Certified General Real Estate Appraiser No. RZ-173 45 1635 CERTIFICATION AND LIMITING CONDITIONS The statements and conclusions contained in this report, subject to the limiting conditions hereafter cited, are correct to the best of the writers' knowledge. 1. The undersigned have personally inspected the subject of this report. No pertinent information has been knowingly withheld. 2. Unless specifically included, the subject is analyzed as though free and clear of liens and encumbrances. 3. No responsibility is assumed for legal matters, nor is an opinion of title rendered. Title is assumed to be good and held in Fee Simple, unless excepted. 4. Legal descriptions and property dimensions have been furnished by others; no responsibility for their correctness is assumed. Sketches which may be in the report are for illustrative purposes only. 5. Possession of any copy of this report does not carry with it the right of publication, duplication, or advertising using the writers’ names or professional designations or membership organizations. 6. The writers are not required to testify without prior agreement. 7. Neither the employment to make this appraisal nor compensation therefore is contingent on the value reported. 8. Where divisions are made between land, improvements, etc., the values estimated for each apply only under the cited use or uses. 9. The value applies ONLY as of the date of valuation stated within the report. 10. The writers certify that they have no present, past or contemplated interest in the subject of this report - unless specifically stated. 11. This report is the property of the indicated client. It may not be used by any other party for any purpose not consistent with the written function of this report without the express written consent of the writers AND client. 12. The reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice and Conduct of the Appraisal Institute. The work also conforms to the Uniform Standards of Professional Appraisal Practice. 13. Soil or sub-soil contamination may exist from current or prior users, or users outside the property concerned. The appraisers are not qualified to detect such substances. We urge the client to retain an expert in this field if desired. 14. The appraisers have not been provided a Habitat Survey, Endangered Species Survey, or analysis by a qualified environmental specialist indicating the presence of or proximity to environmentally sensitive and/or protected land or species which could affect the use, and possibly, value of the appraised property. The appraisers are not qualified to identify these factors. We recommend that an expert be hired where there may be reasonable cause to expect the presence of any of the cited elements. 15. Jesse B. Vance, Jr. and Claudia Vance are responsible for the analyses, conclusions, and opinions of real estate set forth in this report. No one else provided significant professional assistance to the signers of this report. 16. Prospective value is based on current conditions and trends. The appraisers cannot be held responsible for unforeseeable events which might alter market conditions upon which market value opinion has been developed. 17. The appraisers certify that they have the knowledge and experience required to perform this appraisal assignment. 18. The appraisers reserve the right to amend or change this report at any time additional market information is obtained which would significantly affect the value. Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser No. RZ 85 February 1, 2024 Claudia Vance, MAI State-Certified General Real Estate Appraiser No. RZ 173 February 1, 2024 46 1636 ADDENDA 47 1637 48 1638 APPRAISED LAND: 225 NE 9 AVENUE, BOYNTON BEACH, FL ZONING: “R-2”, One and Two-User Dwellings LAND USE: Medium Density Residential, 11 dwelling units per acre 49 1639 APPRAISED LAND: 225 NE 9 AVENUE, BOYNTON BEACH, FL BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY PLAN RECOMMENDED LAND USE 50 1640 E. R-2 Single and Two-family Residential District. 1. General. The purpose of the R-2 zoning district is to implement the medium density residential (MeDR) future land use map (PLUM) classification ofthe Comprehensive Plan. The intent of this conventional district is to stabilize and protect existing residential neighborhoods with densities no greater than ten (1 0) dwelling units per acre, and allowing limited types of non- residential uses. 2. Use(s) Allowed. See "Use Matrix Table 3-28" in Chapter 3, Article IV, Section 3.D. 3. Building and Site Regulations (Table 3-9). Existing and/or planned single-family homes shall conform to the R-1 district requirements; however, for duplex homes, the following lot and building requirements shall be observed: · BUILDING/SITE REGULATIONS R -2 District Minimum lot area (per unit): . 1 4,500 s.f. Minimum lot frontag~: 75 feet Minimum yard setbacks: Front: 25 fee~ Rear: 25 feet 3 Interior side: 10 fee~ Comer side: 25 feet2 •3 Minimum living area: 750 s.f. Maximum lot coverage: 40% Maximum Floor Ratio Area (FAR) 0.104 Maximum structure height: 25 feet5 Single-family dwellings shall be constructed on lots that are no less than six thousand (6,000) square feet. 2 Pursuant to Section 8.B. below, parcels that have frontage on Martin Luther King Jr. Boulevard and are located within the Martin Luther King Boulevard Overlay Zone shall have front, side interior, and side comer setbacks in accordance with the mixed use-low intensity 1 zoning district (see Section 6.H. below). 3 On comer lots, the side setback adjacent to the street shall be not less than one-half (I /2) the front yard setback. However, where orientation of adjacent lots on both street frontages provide typical front yard setbacks, the comer lot shall provide for front yard setbacks along both streets. When two (2) front yard setbacks are provided for on a comer lot, no rear yard setback shall be required, only side yard setbacks shall be imposed. 4 A floor area ratio (FAR) up to 0.10 may be considered for non-residential uses allowed within the R-2 district (see "Use Matrix"-Chapter 3, Article IV, Section 3), pursuant to the medium density residential land use category of the Comprehensive Plan. 5 Not to exceed two (2) stories. 51 1641 D. R-1 Single-family Residential District. 1. General. The purpose of the R-1 zoning district is to implement the moderate density residential (MoDR) future land use map (FLUM) classification of the Comprehensive Plan. The intent of this conventional district is to encourage single-family dwellings and structures at densities no greater than seven and one-half (7 .5) dwelling units per acre, and allowing limited types of non-residential uses. 2. Use(s) Allowed. See "Use Matrix Table 3-28" in Chapter 3, Article IV, Section 3.D. 3. Building and Site Regulations (Table 3-8). The following lot and setback requirements shall be observed: BUILDING/SITE REGULATIONS R -1 District Minimum lot area: f 6,000 s.f. Minimum lot frontage: 60 feet Front: 25 feet Rear: 20 feet Special rear yard setback reduction for single-story building additions: 1 Abutting: I-95 or railroad tracks: 50% Abutting: Intracoastal: 50% Abutting: Lakes: 50% Abutting: Golf Course: 50% Abutting: Canals wider than 150ft 50% Abutting: Canals narrower than 150 ft 33% Abutting: Perimeter walls of community that abut other than residential: Abutting: Commercial or Industrial 50% Abutting: Public or private park: 50% Interior side: 7.5 feet Comer side: 25 fee~ Minimum living area: 1,200 s.f. Maximum lot coverage: 50% Maximum structure height: 30 feet 52 1642 . Aitnctgm.zoN~NoDIS'flUcm ANP·oYE&tAXmt®: ~ARTICLE III. ZONING DISTRICTS AND OVERLAY ZONES .. ~Sec. 1. Overview. A. General. Pursuant to Chapter 1, Article III, Section 5.B., any given parcel of land in the city shall have a zoning district that corresponds with the future land use map (PLUM) classification of the Comprehensive Plan. B. Residential Building and Site Regulations (!'able 3-1). R-1 R-1 R-1 R-1 R-2 R-3 IPUD PUD MHPD RESIDENTIAL AAB AA A Duplex Multi Density (dwelling units 5 5.5 6 7.5 10 Flexible13 Flexible13 Flexible13 Flexible13 per acre): Project Area, Minimum N/A N/A N/A N/A N/A N/A 1 to 5 5+ 10+ (acres) I Lot Area per unit, 8 00011 4 00015 Flexible10 Flexible10 4,200 i 9,000 7,500 6,000 4,500 I , I Minimum (square feet): , Lot Frontage, Minimum 90 75 60 60 75 100 Flexible10 Flexible10 N/A (feet): Living Area, Minimum 1,800 1,600 1,400 1,200 750 750 750 750 N/A AIC (square feet): Lot Coverage, Maximum: 45% 45% 45% 50% 40% 40% 50% N/A N/A Floor-Area-Ratio (FAR) N/A N/A N/A N/A 0.106 N/A 0.206 N/A N/A for Non-Residential, 531643 Maximum: Structure Height, 30 30 30 30 257 458 459 458 30 Maximum (feet): Building Setbacks, Minimum (feet): Front: 25 25 25 25 25 40 Flexible5 Flexible5 20 Interior side: 10 lOll 7.5 7.5 10 20 Flexible5 Flexible5 5 Comer side: 254 254 254 254 254 40 Flexible5 Flexible5 1014 Rear: 204 204 204 204 254 40 Flexible5 Flexible5 1014 Special rear yard setback reductions for 1-story Maximum Percentage of Reduction: building additions abutting: I -95 or railroad tracks: 50% 50% 50% 50% NIA N/A N/A N/A N/A Intracoastal Waterway 50% 50% 50% 50% N/A N/A N/A N/A N/A (ICWW): Lake: 50% 50% 50% 50% N/A N/A N/A N/A N/A Golf course: 50% 50% 50% 50% N/A N/A N/A N/A N/A Canal wider than 150 50% 50% 50% 50% N/A N/A N/A N/A N/A feet: Canal narrower than 33% 33% 33% 33% N/A N/A N/A N/A N/A 150 feet: Commercial/industrial: 50% 50% 50% 50% N/A NIA N/A N/A N/A Public/private park: 50% 50% 50% 50% N/A N/A N/A N/A N/A ----541644 --~) W Sec. 11. Nonconfonning Regulations. A. Lots and Parcels. 1. R-1 District, R-IA District, R-2 District, and R-3 District. A detached single-family dwelling may be constructed on any parcel located in an R-1, R-IA, R-2, or R-3 district, provided that it meets all of the following requirements: a. The parcel contains at least one (1) whole platted lot, platted prior to August 7, 2001; b. The parcel, or assemblage of platted parcels which individually meet the requirements of paragraph a. above, has a frontage of not less than fifty (50) feet, and a lot area of not less than five thousand (5,000) square feet (irregular, other than rectangle-shaped lots with less than five thousand ( 5,000) square feet of area may be developed if in confonnance with all other lot regulations); c. All such parcels, when developed, shall comply with all provisions of the Land Development Regulations and applicable building code regulations, including without limitation sections of the building code regulations regarding the impact of construction and drainage on or to adjacent properties. --4). 2. R-2 District. Within R-2 districts, in subdivisions platted prior to the effective date of these Regulations, where the platted lots have a frontage of at least forty ( 40) feet but less than fifty (50) feet, the following rules shall apply: a. A detached single-family dwelling may be constructed on any such parcel, provided that the parcel contains at least one (1) whole platted lot. b. A duplex dwelling may be constructed on any parcel, provided that it meets the following requirements: (1) The parcel contains at least two (2) whole platted lots; (2) Property cannot be acquired from adjacent parcels so as to make the subject parcel conforming, without causing the adjacent parcels to become nonconforming or more nonconfonning. c. For any parcel, lot, or combination oflots, where the total frontage is equal or greater than one hundred twenty (120) feet, and the total area is greater than twelve thousand (12,000) square feet, said property shall not be developed except in accordance with the minimum frontage and lot area required in the R-2 zoning district. d. Ownership of parcels shall be determined by the property tax rolls on file in the Palm Beach County Property Appraiser's Office as of the effective date of these Regulations. 3. R-1AA District. A detached single-family dwelling may be constructed on any parcel located in an R-1AA district, without requiring a variance, provided that it meets the following requirements: a. The parcel contains at least one (1) whole platted lot. b. The parcel has a frontage of not less than sixty (60) feet, and a lot area of not less than six thousand, seven hundred fifty (6, 750) square feet in area. c. It would not be possible to acquire property from adjacent parcels so as to make the subject parcel conforming, without causing the adjacent parcels or structures thereon to become nonconforming or more nonconfonning. For any parcel or lot, or combination oflots under the same ownership, where the total frontage and the total area is equal to or greater than that which is required by the R-1AA district building and site regulations, said property shall not be developed except in accordance with the minimum frontage and lot area required in the particular zoning district. Not more than one (1) parcel or lot, or combination oflots under the same ownership, that is nonconforming but which meets the requirements under b. above may be developed for a single- family house. 55 1645 -------------~-------------------------~--~---- ARTICLE V. MINIMUM OFF-STREET PARKING REQUIREMENTS Page 1 of3 Q Sec. 2. Standards. A. General. 1. Rules and Methodology. a. Parking space requirements shall be computed on the basis of the principal use of a structure or lot, and using gross floor area unless stated otherwise in this article. Gross floor area, for the purposes of this subsection, shall include the floor area occupied by the principal use, plus the floor area occupied by all other enclosed spaces, including but not limited to storage rooms, maintenance and mechanical rooms, offices, lounges, restrooms, lobbies, basements, mezzanines, and hallways. b. Where several principal uses exist in one (1) structure or on one (1) lot, parking space requirements shall be computed separately for each principal use, unless stated otherwise in this article. Where parking spaces are required in this article for each of several principal uses that commonly occur together, this is done for the purpose of clarification only, and shall not limit the application of the requirement contained in this paragraph. c. A use shall be considered a principal use, for the purposes of this subsection, if it could exist separately from all other uses in the same structure or on the same lot, and would by itself generate significant parking demand. d. Where several principal uses exist in one (1) building or part of a building, and the floor area of each principal use cannot be clearly delineated, the parking space requirement for the use requiring the greatest number of parking spaces shall apply. e. Where a use is not listed below, parking space requirements shall be determined by the City Commission after review and recommendation by the Director of Planning and Zoning or designee. f. Where the number of required parking spaces as computed includes a fraction, the number of required parking spaces shall be the computed number rounded to the next highest whole number. g. Except as provided in Section 3.E. below, there shall be provided, at the time of the erection of any structure or establishment of any use, a number of off-street parking spaces in accordance with the following minimum requirements, and subject to the parking requirements of this subsection. Where a structure or use is enlarged or increased in capacity by any means, including a change in building occupancy which requires the provision of additional parking spaces, or a change in use to or which requires additional parking spaces, the minimum number of parking spaces shall be computed by applying these requirements to the entire structure or use. 2. Minimum Number of Required Off-Street Spaces for Non-Residential Uses. No fewer than four ( 4) parking spaces shall be provided for any non-residential use. 3. Location of Off-Street Parking Areas. a. Residential. Required parking spaces for all dwellings shall be located on the same lot as the dwelling to be served. b. Non-residential. Required parking spaces for all non-residential uses shall be owned by the owner of the building or lot to be served, and shall be located on the same lot, or not more than three hundred (300) feet distance, unless the property is located within those areas defmed within the adaptive re-use section of the Code (Chapter 4, Article 5, Section 4). In those areas, required parking spaces may be leased within three hundred (300) feet of the use in which they serve, subject to Board and City Commission approval, and the property shall be posted with signage indicating to patrons the location of the leased parking. B. Table 4-17. Residential and Lodging Uses. Residential and Lodging Uses Standard Number of Required Parking Spaces http://www.amlegal.com/nxt/gateway.dll/Floridalboynton/partiiilanddevelopmentregulation ... 56 1646 ARTICLE V. MINIMUM OFF-STREET PARKING REQUIREMENTS Page 2 of3 Building area size is based upon gross floor area (in square feet) unless specifically expressed otherwise. Single-family, duplex dwelling, or mobile home: 21 Efficiency or one (I)-bedroom apartment: 1.5 1,2 Within mixed use high district: 1.33 2 Two (2) or more bedroom apartment: 21,2 Within mixed use high district: 1.661,2 Dormitories: 1 per unit Hotel & motel units containing one (1 )-bedroom: 1.25 per unit Within mixed use high district: 1 per unit Hotel & motel suite containing two (2) or more 2 per unit bedrooms: Within mixed use high district: 1 per unit Group home (types 1 through 4): 1 per 3 beds Bed & breakfast: 13 Live/work unit: 1 per 2 units 4 1 Residential driveways shall satisfy the parking space requirements for single-family detached dwelling units, duplexes, and multi-family dwelling units containing garages, provided such driveways are of sufficient size to meet the parking space requirements of this subsection. A residential driveway of sufficient size shall be provided prior to the issuance of a certificate of occupancy. For all required parking spaces not located within an enclosed garage, the first parking space shall be the minimum size required for a handicap space, exclusive of public or private rights-of-way, and all other required spaces must be dimensioned in accordance with current city standards. All driveways shall be setback at least two (2) feet from interior side and comer side property lines, and maintained and drained so as to prevent nuisance conditions or a danger to the public and/or adjacent property owners. Any expansion to an existing driveway shall require a zoning permit from the Planning and Zoning Division in accordance with the procedures specified in Chapter 2, Article II, Section 5.B.; however, any driveway expansion (or similar impervious surface) that is equal to or greater than eight hundred (800) square feet shall require the approval of a land development permit in accordance with Chapter 2, Article III, Section 3. Any work, such as a driveway, proposed within the swale (right-of-way) shall require a permit from the Engineering Division in accordance with the procedures specified in Chapter 2, Article Ill, Section 4. 2 Guest parking shall be provided at a rate of0.15 spaces per unit for residential developments consisting of three (3) or more dwelling units. 3 Required parking shall be calculated on the basis of one (1) space per each employee, manager, or owner and one (1) parking space for each guest unit. Newly created parking may be located only in the rear and side yard. http://www.arnlegal.com/nxt/gateway.dll/Floridalboynton/partiiilanddevelopmentregulation ... 57 1647 ARTICLE V. MINIMUM OFF-STREET PARKING REQUIREMENTS Page 3 of3 4 In addition to the required parking for the residential unit, the city requires that one (1) parking space per two (2) live/work units be provided to meet business activity needs. Parking provided to meet this requirement shall be located on the lot, built into or under the structure, or within three hundred (300) feet of the unit in which the use is located. The distance shall be a straight line measurement from a point on the boundary line of the property of the subject unit to the closest boundary line of the property on which the parking is located. Parking provided to accommodate said space, including driveways of adequate depth in front of the unit's garage, shall not serve as meeting required parking for the unit's residential use. http:/ /www.arnlegal.com/nxt/ gateway .dll/Floridalboynton/partiiilanddevelopmentregulation... 1/8/2015 58 1648 E. Mixed Use Urban Building and Site Regulations (Table 3-4). MIXED USE, URBAN MU-L1 MU-L2 MU-L3 MU-4 MU-H Lot Area, Minimum (acres): Public park N/A N/A N/A N/A N/A All other uses 0.50 0.75 1 1 1 Lot Frontage, Minimum (ft.)1 100 100 1502 200 200 Structure Ht., Minimum (ft.) 30 30 30 45 45 Maximum Height (ft.)5 45 65 75 100 150/1256 Maximum Density (DUs/Acre)14, 16 20 30 40 60 80 Maximum F.A.R.15 1.0 2.0 3.0 4.0 4.0 Build-to-line (ft.)11 All sides abutting a collector or arterial road Factor of Pedestrian Zone Requirement10 Abutting a Local street 010 010 010 010 010 Interior side 010 010 010 010 010 Building Setback, Minimum (ft.)11 Rear abutting: Residential single-family 257/07, 8 257 257 257 257 Intracoastal waterway 257 257 257 257 257 Side abutting Residential single-family 257/07, 8 257 257 257 257 Usable Open Space, Minimum (sq. ft.)13 N/A N/A N/A 1% 2% 1. May be reduced if frontage extends from right-of-way to right -of-way. 2. Minimum of fifty (50) feet, if frontage is on a collector/local collector roadway. 5. Maximum height on any street frontage is forty-five (45) feet. Maximum height on Intracoastal Waterway is thirty-five (35) feet. Heights may require reduction where adjacent to a single-family zoning district where necessary to achieve the compatibility requirements of these regulations. 59 1649 6. Maximum height reduced to one hundred twenty-five (125) feet for the entire project where property abuts any MU-L or resid ential zoning district not separated by a right-of-way. 7. Plus one (1) additional foot for each foot of height over thirty-five (35) feet. 8. Where there is an intervening right -of-way of at least forty (40) feet. 9. Subject to permitting agency approval. 10. Buildings and structures shall be located no farther than zero (0) feet from the property line, except in conjunction with providing required visibility at intersections, driveways; open spaces and public plazas; or when additional setback is necessary to provide for required “Pedestrian Zone (PZ). Building placement is a factor of roadway type and CRA district, which determines the min. width and design of the PZ. Except for the Downtown District, where the minimum PZ width is 18', the minimum PZ in all other districts if 16 ft. See Section 5.C.2. below for additional relief provisions from build-to line requirements. 11. Listed eligible historic structures are not required to meet these standards. 13. Usable open space shall be required for all developments two (2) acres in size or larger which shall be devoted to plazas or other public open space, excluding private recreation. See Chapter 4, Article III, Section 8 for additional regulations. 14. Projects within the transit core shall have minimum densities as follows: MU-1 - eleven (11), MU-2 - twenty (20), MU-3 - thirty (30), MU-4 - thirty-five (35) and MU-H - forty (40) dwellings per acre (except that minimum density for the MU-H district applies to projects located within the entire station area). 15. Projects within the transit core shall have a minimum FAR as follows: MU-L3 - one and three-quarters (1.75), MU-4 (2.0) and MU-H - two (2.0) (except that minimum FAR for the MU-H district applies to projects to be located within the entire station area). 16. The maximum density for projects within the Downtown Transit -Oriented Development District Overlay Zone (the Station Area) may be increased up to twenty-five percent (25%) over the maximum density allowed in the underlying zoning district. (Ord. 10-025, passed 12-7-10; Am. Ord. 12-016, passed 10-2-12; Am. Ord. 14-009, passed 7-1- 14; Am. Ord. 15-006, passed 3-2-15; Am. Ord. 16-023, passed 1-3-17) 60 1650 SUMMARY OF USPAP (Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. STANDARD 2 addresses the content and level of information required in a report that communicates the results of the real property appraisal. STANDARD 2 does not dictate the form, format, or style of real property appraisal reports. The substantive content of a report determines its compliance. STANDARDS RULE 2-1 Each written or oral real property appraisal report m ust: (a) clearly and accurately set forth the appraisal in a manner that will not be misleading; (b) contain sufficient information to enable the intended users of the appraisal to understand the report properly; and (c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment. STANDARDS RULE 2-2 Each written real property appraisal report m ust be prepared under one of the following options and prominently state which option is used: Appraisal Report or Restricted Appraisal Report. An appraiser may use any other label in addition to, but not in place of, the labels set forth in this Standards Rule for the type of report produced. The use of additional labels such as analysis, consultation, evaluation, study, or valuation does not exempt an appraiser from adherence to USPAP. The report content and level of information requirements in this Standards Rule are minimal for each type of report. An appraiser must supplement a report form, when necessary, to insure that any intended user of the appraisal is not misled and that the report complies with the applicable content requirements. (a) The content of an appraisal report must be appropriate for the intended use or the appraisal and, at a minimum: (i) state the identity of the client, or if the client requested anonymity, state that the identity is withheld at the client’s request but is retained in the appraiser’s workfile; (ii) state the identity of any other intended users by name or type; (iii) state the intended use of the appraisal; (iv) contain information, documents, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal, and economic property characteristics relevant to the assignment; (v) state the real property interest appraised; (vi) state the type and definition of value and cite the source of the definition; (vii) state the effective date of the appraisal and the date of the report; (viii) summarize the scope of work used to develop the appraisal; (ix) summarize the extent of any significant real property appraisal assistance; 61 1651 SUMMARY OF USPAP (Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting (x) provide sufficient information to indicate that the appraiser complied with the requirements of STANDARD 1 by: (1) summarizing the appraisal methods and techniques employed; (2) stating the reasons for excluding the sales comparison, cost, or income approach(es) if any have not been developed; (3) summarizing the results of analyzing the subject sales, options, and listings in accordance with Standards Rule 1-5; (4) stating the value opinion(s) and conclusions(s); and (5) summarizing the information analyzed and the reasoning that supports the analyses opinions, and conclusions, including reconciliation of the data and approaches; (xi) state the use of the real estate existing as of the effective date and the use of the real estate reflected in the appraisal; (xii) when an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; (xiii) clearly and conspicuously: • state all extraordinary assumptions and hypothetical conditions, and • state that their use might have affected the assignment results, and (xiv) include a signed certification in accordance with Standards Rule 2-1. STANDARDS RULE 1-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. 62 1652 475.611 Florida Statutes: Definitions.- (1) As used in this part, the term: (a) “Appraisal” or “Appraisal Services” means the services provided by certified and licensed appraisers or registered trainee appraisers, and includes: 1. "Appraisal assi gnment" denotes an engagement for which a person is employed or retained to act, or coul d be perceived by third parties or the public as acting, as an agent or a disinterested third party in rendering an unbiased analysis, opinion, review, or conclusion relating to the nature, quality, val ue, or utility of specified interests in, or aspects of, identified real property. 2. "Analysis assi gnment" denotes appraisal services that relate to the employer's or client's individual needs or investment objectives and incl udes specialized marketi ng, financing, and feasibility studies as well as analyses, opinions, and conclusions given in connection with activities such as real estate brokerage, mortgage banking, real estate counseling, or real estate consulting. 3. "Appraisal review assignment" denotes an engagement for which an appraiser is employed or retai ned to develop and communicate an opinion about the quality of another appraiser's appraisal, appraisal report, or work. An appraisal review may or may not contain the reviewing appraiser's opinion of value. (b) "Appraisal Foundation" or "foundation" me ans the Appraisal Foundation established on November 20, 1987, as a not-for-profit corporation under the laws of Illinois. (c) "Appraisal report" means any communicati on, written or oral, of an appraisal, appraisal review, appraisal consulting service, analysis, opini on, or conclusion relating to the nature, quality, val ue, or utility of a specified interest in, or aspect of, identified real property, and includes any report communicating an appraisal analysi s, opinion, or conclusion of value, regardless of title. However, in order to be recognized in a federally related transaction, an appraisal report must be wri tten. (d) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's appraisal, appraisal report, or work. (e) "Appraisal subcommittee" means the designees of the heads of the federal financial institutions regulatory agencies established by the Federal Financi al Institutions Exami nation Council Act of 1978 (12 U.S.C. ss. 3301 et seq.), as amended. (f) "Appraiser" means any person who i s a registered trainee real estate appraiser, licensed real estate appraiser, or a certified real estate appraiser. An appraiser renders a professional service and is a professional within the meaning of 95.11(4)(a). (g) "Board" means the Fl orida Real Estate Appraisal Board established under thi s section. (h) “Certified General Appraiser” means a person who is certified by the department as qualified to issue appraisal reports for any type of real property (i) "Certified Residential Appraiser" means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four resi dential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulati on. (j) "Department" means the Department of Busi ness and Professi onal Regulati on. 63 1653 2020 FLORIDA STATUTES 475.628 Professional standards for appraisers registered, licensed, or certified under this part.— (1) The board shall adopt rules establishing standards of professional practice which meet or exceed nationally recognized standards of appraisal practice, including standards adopted by the Appraisal Standards Board of the Appraisal Foundation. Each appraiser registered, licensed, or certified under this part must comply with the rules. Statements on appraisal standards which may be issued for the purpose of clarification, interpretation, explanation, or elaboration through the Appraisal Foundation are binding on any appraiser registered, licensed, or certified under this part, upon adoption by rule of the board. (2) The board may adopt rules establishing standards of professional practice other than standards adopted by the Appraisal Standards Board of the Appraisal Foundation for nonfederally related transactions. The board shall require that when performing an appraisal or appraisal service for any purpose other than a federally related transaction, an appraiser must comply with the Ethics and Competency Rules of the standards adopted by the Appraisal Standards Board of the Appraisal Foundation, and other requirements as determined by rule of the board. An assignment completed using alternate standards does not satisfy the experience requirements under s. 475.617 unless the assignment complies with the standards adopted by the Appraisal Standards Board of the Appraisal Foundation. History.—ss. 9, 11, ch. 91-89; s. 4, ch. 91-429; s. 35, ch. 98-250; s. 22, ch. 2012-61; s. 9, ch. 2017-30. Title XXXII REGULATION OF PROFESSIONS AND OCCUPATIONS Chapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERS View Entire Chapter 64 1654 Jesse B. Vance, Jr., MAI, SRA, ASA, MBA Appraiser · Real Estate Analyst · Reviewer · Expert Witness Vance Real Estate Service · 7481 NW 4 Street · Plantation · Florida · 33317 Office: 954·583·2116; Cell: 954·610·2423; Email: vanceval@comcast.net Web Page: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 45 years. Designated appraisers perform the appraisal work, no trainees. Jesse B. Vance, Jr., MAI, SRA, ASA, MBA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, bankruptcies, deficiency judgments, marriage dissolution, and estate valuations. Our firm values most types of real property interests for sale, mortgage loans, litigation and investment reasonably, timely and professionally. As licensed real estate brokers, we perform most other real property functions. We also do “Valuations for Financial Reporting.” PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ DEGREES/ LICENSES & CERTIFICATIONS MAI DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 SRA DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 ASA DESIGNATION - AMERICAN SOCIETY OF APPRAISERS (RE-Urban) #003439 MBA DEGREE - REAL ESTATE MANAGEMENT AND DEVELOPMENT STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ-85 (Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO. BK. 91050 REGISTERED VETERAN-OWNED SMALL BUSINESS (CCR/Duns 826494957) FLORIDA CERTIFIED SDVBE BUSINESS ENTERPRISE (Minority Business Enterprise - MBE) FLORIDA “D.E.P.” APPROVED APPRAISER B) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION 1. U.S. Court of Appeals, Eleventh Circuit 2. U.S. District Court, Southern District of South Florida 3. U.S. District Court, New Jersey 4. U.S. Bankruptcy Court, Southern District of Florida 5. U.S. Bankruptcy Court, District of New Jersey 6. U.S. Bankruptcy Court, Western (Pittsburgh) Division of Pennsylvania 7. Florida Circuit Courts: Broward, Dade, Palm Beach, Lee, Collier, Martin, and Okeechobee Counties 8. Appraiser on landmark eminent domain cases: TESSLER, NESS TRAILER PARK, PATEL, SIMPSON v. FILLICHIO, RUBANO, PALM BEACH COUNTY (FL) vs. COVE CLUB INVESTORS, LTD. C) EXPERIENCE Over thirty-five (35) years appraising and analyzing real property interests in South Florida. Partial list: RESIDENCES, RESTAURANTS/BARS, APARTMENT BUILDINGS, OFFICE BUILDINGS HOTELS/MOTELS, CHURCHES, CONDOMINIUMS/COOPS, HOSPITALS & NURSING HOMES, VACANT LAND, GOLF COURSES, GOLF CLUBS, GASOLINE SERVICE STATIONS, MARINAS, TRAILER PARKS, SHOPPING CENTERS, BANKS/THRIFT INSTITUTIONS, BOWLING ALLEYS, P.U.D.'S, INDUSTRIAL BUILDINGS, TIME-SHARE DEVELOPMENTS, ROCK PITS, SCHOOLS, AGRICULTURAL PROPERTIES, WATER MANAGEMENT DISTRICT, MARKETABILITY, FEASIBILITY ANALYSES, INVESTMENT ANALYSES, AUTO SALES FACILITIES, LEASE VALUATIONS, TAX & ASSESSMENT APPEALS, CONDEMNATION, EXPERT WITNESS (Member National Forensic Center), BUSINESS ENTERPRISE VALUATIONS (BEV), (VFR) VALUATION FOR FINANCIAL REPORTING, AVIGATION & CLEARANCE EASEMENTS, ESTATES, DIVORCES, PLANNING/LAND USE STUDIES, HIGHEST & BEST USE ANALYSES, DEPRECIATION ANALYSES, COMPONENT APPRAISALS, ENVIRONMENTALLY SENSITIVE LAND, CONTAMINATED PROPERTIES, SUGARCANE & TURFGRASS LAND, DAY CARE CENTERS, SELF-STORAGE FACILITIES, FUNERAL HOMES, ANIMAL HOSPITALS, SUBMERGED LAND, CITY CENTERS, etc. 65 1655 D) PARTIAL LIST OF CLIENTS PRIVATE INDIVIDUALS AND CORPORATIONS, ATTORNEYS, ACCOUNTANTS, TRUST DEPARTMENTS, COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; American National Bank; Landmark Bank; City National Bank; BankUnited; Gateway American Bank; State Farm Bank; Englewood Bank & Trust; SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES; FLORIDA CITIES: FORT LAUDERDALE, PLANTATION, COOPER CITY, TAMARAC, LAUDERHILL, BOCA RATON, DEERFIELD BEACH, OAKLAND PARK, WILTON MANORS, HOLLYWOOD, WEST PALM BEACH, DELRAY BEACH, HALLANDALE, PEMBROKE PINES, COOPER CITY, TOWN OF DAVIE, TOWN OF SOUTHWEST RANCHES, MIRAMAR. FLORIDA COUNTIES: BROWARD, PALM BEACH, COLLIER, OKEECHOBEE; BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS; OKEECHOBEE BOARD OF COUNTY COMMISSIONERS. SCHOOL BOARD OF BROWARD COUNTY, FLORIDA, BROWARD COUNTY HOUSING AUTHORITY, STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION (DOT); STATE OF FLORIDA DIVISION OF GENERAL SERVICES(GSA); N. BROWARD GENERAL HOSPITAL DISTRICT; STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (Approved Vendor);U.S. TREASURY DEPARTMENT (General Counsel, I.R.S.); U.S. MARSHAL'S SERVICE – U.S. ATTORNEY’S OFFICE CENTRAL DIVISION – U.S. Dept. of Justice; VETERANS ADMINISTRATION E) EDUCATIONAL BACKGROUND - (Partial List) ACADEMIC: BACHELOR OF ARTS - Earlham College, Richmond, Indiana (1954) MBA (Nova University) - Real Estate Management & Development (National Dean's List 1991) Professional: Qualifying courses for the SRA and SREA designations from the Society of Real Estate Appraisers Qualifying courses for the MAI designation from the Appraisal Institute F) APPRAISAL TEACHING EXPERIENCE Licensed by the Florida Department of Education to Teach (Certificate No. 275236). Authored and taught Residential and Commercial Real Estate Appraisal Courses for Broward County Adult Education Program. Taught Course 101 - Society of Real Estate Appraisers. Taught Course 201 - Society of Real Estate Appraisers. Taught Appraisal Seminars - Board of Realtors, ASA, SREA, and AI (Appraisal Institute). Adjunct Professor, University of Florida Division of Continuing Education: (taught Course 2, "Real Estate Principles and Practices" to prospective Florida Real Estate Brokers). G) PROFESSIONAL OFFICES HELD/AWARDS NATIONAL B.O.D. MEMBER - BOARD OF DIRECTORS of APPRAISAL INSTITUTE (2006- 2008) AWARD - Appraisal Institute “NATIONAL PRESIDENTS AWARD” 2008 AWARD - Appraisal Institute “LIFETIME ACHIEVEMENT AWARD” 2011 For “high ethical standards, contributions to the Appraisal Institute, Community and Appraisal Profession for at least 20 years.” CHAIR - REGION X - All of Florida - Appraisal Institute (2008) VICE-CHAIR - REGION X - All of Florida - Appraisal Institute (2007) THIRD DIRECTOR - REGION X - All of Florida - Appraisal Institute (2006) FINANCE OFFICER - REGION X – All of Florida – Appraisal Institute (2006) PRESIDENT - BROWARD COUNTY, SOCIETY OF REAL ESTATE APPRAISERS PRESIDENT - BROWARD COUNTY, AMERICAN SOCIETY OF APPRAISERS CHAIR - FLA. STATE GOVERNMENT RELATIONS SUBCOMMITTEE OF AI CHAIR - FLA. STATE LEGISLATION & REGULATION SUBCOMMITTEE OF AI G) PROFESSIONAL OFFICES HELD/AWARDS CHAIR - FLORIDA REALTORS COMMITTEE ON COMMITTEE REFORMS CHAIR - EDUCATION COMMITTEE, FT. LAUDERDALE CHAPTER AI CHAIR - CANDIDATES GUIDANCE COMMITTEE, FT .LAUDERDALE CHAPTER AI CHAIR - NATIONAL Valuation for Financial Reporting PROJECT TEAM OF AI VICE CHAIR & MEMBER - NATIONAL GOVERNMENT RELATIONS COMMITTEE OF AI (15 Years) MEMBER - NATIONAL LONG RANGE PLANNING COMMITTEE OF AI MEMBER - NATIONAL PUBLIC AFFAIRS COMMITTEE OF AI DIRECTOR - REGION X (Florida ) Appraisal Institute MEMBER - REGION X (FLORIDA) ETHICS AND COUNSELING PANEL 66 1656 DIRECTOR - BROWARD COUNTY, FLORIDA SOCIETY OF REAL ESTATE APPRAISERS DIRECTOR - SOUTH FLORIDA CHAPTER AMERICAN SOCIETY OF APPRAISERS MEMBER - NATIONAL EXPERIENCE REVIEW PANEL MEMBER OF AI SPECIAL MASTER - BROWARD COUNTY BOARD OF TAX ADJUSTMENT COMMISSIONER - 17TH JUDICIAL CIRCUIT COURT, Broward County, FL MEMBER - 2013 APPRAISAL INSTITUTE NATIONAL BUSVAL PROJECT TEAM H) PROFESSIONAL PUBLICATIONS & PRESENTATIONS Wrote and taught a basic Residential Appraisal Course for the Broward County Adult Education Div. of the Dept. of Education; Wrote and taught an Income Appraisal Course for the Broward County Adult Education Division of the Department of Education; Co-authored and taught an appraisal course on Mortgage-Equity Capitalization for the American Society of Appraisers. Authored and taught a Florida State and Appraisal Institute 3-hour accredited course in "The Legislation, Regulation and Appraisal of Real Property Rights in Florida September 7, 1996. Presentation on “Gramm-Leach -Bliley” Federal Privacy Act of 1999 for South Florida Chapter of American Society of Appraisers on October 24, 2001. Presented 3-hour Florida CEU-credit seminar on “Appraisers and the Gramm-Leach-Bliley Act” before the South Florida Chapter of the Appraisal Institute on July 27, 2002. Presenter at 6.5 Hour CLE-credit Attorney Seminar on Florida Eminent Domain, “Valuation and Damage Issues” February 2, 2006, Fort Lauderdale, Florida I) CIVIC INVOLVEMENT MEMBER OF ROTARY INTERNATIONAL / PAUL HARRIS FELLOW MEMBER OF THE GREATER FORT LAUDERDALE OPERA GUILD MEMBER FLORIDA PHILHARMONIC BROWARD TRUSTEES MEMBER OF THE BROWARD COUNTY LIBRARY SUPPORT GROUP ("BYBLOS") MEMBER CIRCLE OF FRIENDS – NOVA SOUTHEASTERN LIBRARY FOUNDATION MEMBER NOVA SOUTHEASTERN UNIVERSITY ALUMNI ASSOCIATION MEMBER OF THE FORT LAUDERDALE HISTORICAL SOCIETY MEMBER OF THE BROWARD COUNTY MUSEUM OF THE ARTS MEMBER OF THE FORT LAUDERDALE / BROWARD COUNTY CHAMBER OF COMMERCE MEMBER OF THE BETTER BUSINESS BUREAU OF SOUTH FLORIDA LIFETIME HONORARY MEMBER FLORIDA SHERIFF’S ASSOCIATION MEMBER NATIONAL & FT. LAUDERDALE COUNCILS U.S. NAVY LEAGUE U.S. ARMY VETERAN WWII (RA 17212681) - HONORABLE DISCHARGE 1949 67 1657 Claudia Vance, MAI Appraiser · Real Estate Analyst · Reviewer Vance Real Estate Service · 7481 NW 4 Street · Plantation · FL · 33317 Office: 954·583·2116 Cell: 954·647·7148 Email: vanceval@att.net Web Site: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 40 years. Designated appraisers perform the appraisal work, no trainees. Our appraisals are used for financial/ mortgage loan purposes from large mixed use complexes to small owner - occupied properties. We have the qualifications for appraisals submitted to SBA. Jesse B. Vance, Jr., MAI, SRA, ASA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, deficiency judgments, marriage dissolution, and estates. Our firm values most types of real property interests, timely, professionally, and at competitive costs. PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ LICENSES MAI Designation - APPRAISAL INSTITUTE No. 9451 State-Certified General Real Estate Appraiser No. RZ-173 Florida State Licensed Real Estate Broker No. BK 0161305 VOSB Veteran-Owned Small Business (CCR/Duns 826494957) B) WORK HISTORY 1983 - Current Vice President - Vance Real Estate Service 1981 – 1983 President - The Appraisal Company, Fort Lauderdale, Florida C) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S. Bankruptcy Court, Southern District of Florida Florida Circuit Court: Broward County D) PROFESSIONAL DEVELOPMENT PROGRAM REGISTRIES Valuation of Sustainable Buildings: Commercial Valuation of Sustainable Buildings: Residential E) EXPERIENCE: 40+years appraising and analyzing real property interests in South Florida. F) APPRAISER SPECIAL MAGISTRATE FOR THE BROWARD CO VALUE ADJUSTMENT BOARD 2002-2010 Partial list of real property types valued: High value residences, Condominiums/ Co -operatives, Office, Industrial, Multi-family, Restaurants/ bars, Auto dealerships, City Centers, Hotels/ motels, Houses of worship, Schools, Child care centers, Self-storage, Funeral home, Animal Hospital, Mixed use, Nursing homes, Gas sales stations, Marinas, Mobile home parks, Shopping centers, Country clubs/ golf courses, Financial institutions, Bowling centers, Vacant land, Agricultural properties, Environmentally sensitive land Types of Reports: Market Value, Eminent Domain, Marketability, Feasibility, Highest and Best Use, Investment Analyses, Partial Interests, Easement Valuations, Estate planning, Marriage dissolution, Land use studies, Damage/ Contamination studies 68 1658 G) PARTIAL LIST OF CLIENTS – PRIVATE: Individuals, Corporations, Attorneys, Accountants, Habitat for Humanity, Seminole Tribe of Florida COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; Citigroup; Space Coast Credit Union; State Farm Bank; Florida Shores Bank; American National Bank; Landmark Bank; City National Bank; Evermore Bank National Bank SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES FLORIDA CITIES: Fort Lauderdale, Plantation, Cooper City, Deerfield Beach, Tamarac, Oakland Park, Wilton Manors, North Lauderdale, Davie, Pembroke Pines, Hallandale Beach, Lauderhill, Southwest Ranches, Miramar, Boca Raton, Boynton Beach, West Palm Beach, Delray Beach FLORIDA COUNTIES and AGENCIES: Broward, Palm Beach, Broward County Board of County Commissioners, School Board of Broward County, Broward County Housing Authority, Fort Lauderdale Community Redevelopment Agency, Boynton Beach Community Redevelopment Agency STATE OF FLORIDA Department of Transportation (FDOT), Department of Environmental Protection U.S. Department of Veterans Affairs, U.S. Department of Treasury (IRS), U.S Marshall’s Service, U.S. Attorney H) EDUCATIONAL BACKGROUND Academic: Bachelor of Arts Degree – University of New Orleans, New Orleans, LA – Major: English Professional: Qualifying courses for the MAI designation I) PROFESSIONAL INVOLVEMENT Region X Representative of the Appraisal Institute 2006 – 2009 President of the South Florida Chapter of the Appraisal Institute - 2003 First Vice-President of the South Florida Chapter of the Appraisal Institute -2002 Second Vice-President of the South Florida Chapter of the Appraisal Institute -2001 Secretary of the South Florida Chapter of the Appraisal Institute -2000 Treasurer of the South Florida Chapter of the Appraisal Institute - 1999 Chair of the Education Committee of the S. Florida Chapter of the Appraisal Institute - 1995, 1996, 1997, 1998, 2007- 2018 Director of the South Florida Chapter of the Appraisal Institute 1996 - 1998 Member of Region X (Florida) Ethics and Counseling Panel –AI Newsletter Editor of the South Florida Chapter of the Appraisal Institute – 2020-current Graduate of the Florida REALTORS Institute (GRI) J) CIVIC INVOLVEMENT Member of the Navy League of the United States – Fort Lauderdale Council Lifetime Honorary Member- Florida Sheriff’s Association Member of Zeta Tau Alpha Alumnae Fraternity 69 1659 Street #Property Address Structure or Lot?Asking Price Appraised Value Lot Size Acres Square Feet Price per Sq. Ft. Percentage Above Appraised Value Nina Clark 1017 N. Railroad Avenue Residential Structure $290,000.00 $206,000.00 0.1356 5906.736 $49.10 41% 225 NE 9th Avenue 225 NE 9th Avenue Vacant Lot $300,000.00 $196,000.00 0.1728 7527.168 $39.86 53% Street #Property Address Structure or Lot?Appraised Value Contract Price Lot Size Acres Square Feet Price per Sq. Ft. Notes Elite Ramsay Group, LLC 524 NW 3rd Street Vacant Lot $195,000.00 $195,000.00 0.1946 8476.776 $23.00 Listed @ $199,900-Contract Price is appraised value Street #Property Address Structure or Lot?Date Acquired Purchase Price Lot Size Square Feet Price per Sq. Ft. Status xxx MLK Blvd.Vacant Lot October-14 $130,000.00 0.1607 7000.092 $18.57 MLK Corridor redevelopment 308 NE 10th Avenue Vacant Lot - Structure demo'd April-05 $225,000.00 0.178 7753.68 $29.02 MLK Corridor redevelopment xxx NE 10th Avenue Vacant Lot October-16 $19,000.00 0.1779 7749.324 $2.45 MLK Corridor 211 NE 9th Avenue Vacant Lot May-18 $53,000.00 0.1738 7570.728 $7.00 To be added to the properties aka MLK South for Mixed Use Development 231 NE 9th Avenue Vacant Lot - Structure demo'd April-14 0.1726 MLK Corridor redevelopment xxx NE 10th Avenue-MLK Vacant Lot-Purchased w/ 231 NE 9th Ave April-14 0.1779 MLK Corridor redevelopment xxx NE 10th Avenue-MLK Vacant Lot-Purchased w/ 231 NE 9th Ave April-14 0.1779 MLK Corridor redevelopment 235 NE 9th Avenue Vacant January-06 $249,000.00 0.1725 7514.1 $33.14 MLK Corridor redevelopment xxx NE 4th Avenue Vacant Lots November-09 $300,000.00 0.8619 37544.364 $7.99 Cottage District xxx NE 4th Ave Vacant January-07 $475,000.00 0.7404 32251.824 $14.73 Cottage District 508 N. Seacrest Blvd.Vacant Lot - Structure demo'd October-07 $545,000.00 0.1117 $24.34 Cottage District 103 NE 4th Avenue Vacant Lot - Structure demo'd-Purchased w/ 508 N. Seacrest October-07 0.1657 Cottage District 105 NE 4th Avenue Vacant Lot - Structure demo'd-Purchased w/ 508 N. Seacrest October-07 0.2367 Cottage District 121 NE 4th Avenue Vacant Lot - Structure demo'd August-14 $155,000.00 0.2757 12009.492 $12.91 Cottage District 127 NE 4th Avenue Vacant Lot - Structure demo'd June-07 $200,000.00 0.2757 12009.492 $16.65 Cottage District 145 NE 4th Avenue Vacant Lot-Structure demo'd January-20 $205,000.00 0.1723 7505.388 $27.31 Cottage District CCC merged w/ Feed So. FL and moved out of bldg 3/30/20; house was boarded up and No Trespass Agreement signed; getting ready for demo - also $45,000 was given to CCC for relocation fees 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.159 Cottage District 122 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.1586 Cottage District 136 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.1583 Cottage District 140 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.158 Cottage District 144 NE 5th Avenue-Purchased w/ 118 NE 5th Avenue Vacant Lot - Structure demo'd April-07 0.1547 Cottage District 511 NE 1st Street Vacant Lot - Structure demo'd October-07 $210,000.00 0.1494 6507.864 $32.27 Cottage District 114 NE 5th Avenue Vacant Lot - Structure demo'd June-08 $187,500.00 0.1137 4952.772 $37.86 Cottage District 517 NE 1st Street Vacant Lot - Structure demo'd October-14 $74,000.00 0.2299 10014.444 $7.39 Cottage District 515 NE 1st Street Vacant Lot - Structure demo'd May-15 $130,000.00 0.1379 6006.924 $21.64 Cottage District 407 NE 1st Avenue Vacant Lot - Structure demo'd November-20 $268,000.00 0.1742 7588.152 $35.32 Misc. XXX E. MLK Blvd.Vacant Lots May-21 $175,000.00 0.4821 21000.276 $8.33 $57,000.00 23017.104 $2.48 22394.196 SUBJECT PROPERTY FOR BOYNTON BEACH CRA PURCHASE PROPERTY UNDER CONTRACT BOYNTON BEACH CRA PROPERTY INVENTORY Apr-24 $825,000.00 34351.416 $24.02 1660 115 NE 4th Avenue Vacant Lot - Structure demo'd July-21 $275,000.00 0.1148 5000.688 $54.99 Cottage District 133 NE 4th Avenue Vacant Lot - Structure demo'd July-21 $300,000.00 0.1723 7505.388 $39.97 Cottage District Lots 348-350 NW 11th Avenue Vacant Lot March-24 $165,000.00 0.1753 7636.068 $21.61 TOTALS 5,222,500$ 6.7696 294,883.78 $17.71 1661 Street #Property Address Structure or Lot/Appraisal Date Acquired Sale Price Lot Size Acres Square Feet Price per Sq. Ft. 321 E. MLK Blvd.Structure (Single Family Home)N/A $315,000.00 0.1607 7000.092 $45.00 334 NE 11th Avenue Structure (Rental)N/A $305,000.00 0.1722 7501.032 $40.66 507 & 513 NE 2nd Street Structures (Rental)N/A $3,000,000.00 0.6073 26453.988 $113.40 137 NE 3rd Avenue Structure (Garage)N/A $300,000.00 0.1742 7588.152 $39.54 PREVIOUS PROPERTY OFFERINGS TO BOYNTON BEACH CRA 1662 •Attachment I - 433 W. BB Blvd. Property License Agree City-Flock Group •Attachment II - 433 W. Boynton Beach Blvd. Location Map COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.C SUBJECT: Discussion and Consideration of Property License Agreement between the BBPD and the CRA for the Property located at 433 W. Boynton Beach Boulevard SUMMARY: The Boynton Beach Police Department has requested the use of CRA property located at 433 W. Boynton Beach Boulevard for the installation of camera equipment. The BBPD has assured CRA staff that the device can be easily removed if it needs to be relocated due to redevelopment of the property. The attached Property License Agreement has been reviewed and approved by the CRA and City legal staff (Attachment I). Also attached is a location map for the placement of the device (Attachment II). FISCAL IMPACT: N/A CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the Property License Agreement for CRA Owner Property at 433 W. Boynton Beach Boulevard and authorize the Board Chair to execute the Agreement subject to final legal review. 2. Alternative direction based on Board discussion. ATTACHMENTS: Description 1663 1664 1665 1666 1667 1668 •Attachment I - 106 NE 3rd Ave Property License Agree City-Flock Group •Attachment II - 106 NE 3rd Avenue - Location Map COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.D SUBJECT: Discussion and Consideration of Property License Agreement between the BBPD and the CRA for the Property located at 106 NE 3rd Avenue SUMMARY: The Boynton Beach Police Department has requested the use of CRA property located at 106 NE 3rd Avenue for the installation of camera equipment. The BBPD has assured CRA staff that the device can be easily removed if it needs to be relocated due to redevelopment of the property. The attached Property License Agreement has been reviewed and approved by the CRA and City legal staff (Attachment I). Also attached is a location map for the placement of the device (Attachment II). FISCAL IMPACT: N/A CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the Property License Agreement between the BBPD and the CRA for the Property located at 106 NE 3rd Avenue and authorize the Board Chair to execute the Agreement. 2. Alternative direction based on Board discussion. ATTACHMENTS: Description 1669 1670 1671 1672 •Attachment I - 401 E BB Blvd. Property License Agree City-Flock Group •Attachment II - 401 E BB Blvd Location Map COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.E SUBJECT: Discussion and Consideration of Property License Agreement between the BBPD and the CRA for the Property located at 401 E. Boynton Beach Boulevard SUMMARY: The Boynton Beach Police Department has requested the use of CRA property located at 401 E. Boynton Beach Boulevard for the installation of camera equipment. The BBPD has assured CRA staff that the device can be easily removed if it needs to be relocated due to redevelopment of the property. The attached Property License Agreement has been reviewed and approved by the CRA and City legal staff (Attachment I). Also attached is a location map for the placement of the device (Attachment II). FISCAL IMPACT: N/A CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the Property License Agreement between the BBPD and the CRA for the Property located at 401 E. Boynton Beach Boulevard and authorize the Board Chair to execute the Agreement. 2. Alternative direction based on Board discussion. ATTACHMENTS: Description 1673 1674 1675 1676 1677 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.F SUBJECT: Discussion and Consideration of Increase in Funding for the FY 2023-2024 Economic Development Grant Programs SUMMARY: The CRA's Economic Development Grants provide 50% of the project costs in matching reimbursable funding and continue to further the CRA’s mission to activate vacant commercial space, assist businesses, create jobs and develop a vibrant downtown. Pending the May 14th Board meeting grant approvals, the remaining balance of the grant budget is approximately $135,523. Assuming the May agenda approvals, the Board has awarded $330,604 for Commercial Rent Reimbursement grant funding and $418,603 for Commercial Property Improvement grant funding for a total of $749,207. In FY 2023-2024, the Board has approved grant funding for the following uses (including the May agenda approvals): 6 restaurants 4 professional office uses 3 bakeries 3 medical offices 3 retail 1 fitness studio 1 commercial façade improvement Historically, over the past five years, the CRA Board approves an average of $474,392 in grant funding each fiscal year, with $346,332 being a low year, and $662,888 being a high year. FY 2023-2024 has had a high demand in grant applications due partly to the Heart of Boynton Shops commercial availability. The commercial tenants at the Heart of Boynton Shops have required approximately $346,034 in grant approvals, leaving $503,966 in grant funding available to the remaining commercial properties available for business development. Attachment I provides an overview in respect to the overall success of the Economic Development Grant Programs between FY 2018-2019 and FY 2023-2024 and is also summarized below: 107 businesses were approved for grant funding totaling $3,262,333 1678 •Attachment I - Grant Program Summary Of those 107 businesses: 93 are currently open and operating within the CRA boundaries 4 businesses have expanded or relocated outside of the CRA boundaries 10 businesses have closed With four more months remaining in the fiscal year, staff is seeking Board approval for the reallocation of $300,000 from the Commercial Exterior Project to the Economic Development Grant Program in order to continue incentivizing business development in eastern Boynton Beach. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $890,374; $300,000 available for reallocation CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the reallocation of $300,000 from the Commercial Exterior Improvement project to the Economic Development Grant Programs. 2. Do not approve the reallocation of $300,000 from the Commercial Exterior Improvement project to the Economic Development Grant Programs. 3. Other options as determined by the Board. ATTACHMENTS: Description 1679 FISCAL YEAR GRANT FUNDING BUDGETED GRANT FUNDING APPROVED PROPERTY IMPROVEMENT GRANT RENT REIMBURSEMENT GRANT STILL IN BUSINESS IN BBCRA EXPANDED/ RELOCATED WITHIN BBCRA EXPANDED/ RELOCATED OUTSIDE BBCRA CLOSED *NOTES: FY 2018 - 2019 554,356.00$ 346,332.77$ 196,283.27$ 150,049.50$ 12 1 1 2*• 1 closed due to death of owner FY 2019-2020 943,000.00$ 662,888.70$ 403,287.45$ 259,601.25$ 15 1 0 2*• closed Due to COVID Pressures FY 2020-2021 670,050.00$ 559,999.37$ 365,557.37$ 194,442.00$ 17 1 2*3 • 1 Relocated due to redevelopment of property FY 2021-2022 535,860.00$ 495,302.31$ 149,323.98$ 345,978.33$ 8 3 1 3*• 1 closed to due to death of owner FY 2022-2023 640,558.00$ 307,436.08$ 211,186.00$ 96,250.08$ 13 0 0 0 FY 2023-2024 850,000.00$ 890,374.00$ 376,540.00$ 513,833.00$ 22 0 0 0 TOTALS 4,193,824.00$ 3,262,333.23$ 1,702,178.07$ 1,560,154.16$ 87 6 2 10 1680 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 NEW BUSINESS AGENDA ITEM 15.G SUBJECT: Discussion and Consideration of the June 2024 CRA Board Meeting Date SUMMARY: This item is being brought before the CRA Board for consideration regarding the regularly scheduled June CRA Board meeting. The June 11, 2024, meeting falls on a date when both the CRA Board Chair and CRA Vice Chair will be unavailable. We are seeking the Board's direction on the June meeting date. CRA BOARD OPTIONS: Provide direction for June's CRA Board meeting date and time. 1681 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.A SUBJECT: Rock the Plaza at Ocean Palm Plaza Recap SUMMARY: O n April 27, 2024, the BBCRA hosted Rock the Plaza at the Ocean Palm Plaza property, located at 1550 N. Federal Highway. The free business promotional activation provided a spotlight of the businesses located within Ocean Palm Plaza. The promotion featured live music from the band Solid Brass, family-friendly activities, special promotions and offers to encourage attendees to shop local and support the businesses located within the plaza, information about BBCRA funded redevelopment projects, and the following Boynton Beach Bucks promotions: $5 off any purchase of $10 or more at The Seed $10 off any purchase at Armenia $10 off any purchase at Alfa Pizzeria $10 off any purchase at Florida Tackle Company $25 off any membership or merchandise at Trilogy Fitness MMA $40 off a service at Shiny Touch Nail Salon In an effort to engage the community and obtain demographic information, event patrons were encouraged to complete a short feedback survey. A total of 36 digital survey responses (see Attachment I) were collected, indicating the following: Are you a Boynton Beach resident? Yes - 82.9% No - 17.1% Have you dined at Ocean Palm Plaza before this event? If so, please select all the restaurants that you have previously visited. Alfa Pizzeria - 36.1% The Seed - 16.7% Bon Zouti - 0% None - 52.8% 1682 Have you ever visited any of the Ocean Palm Plaza salons or barber shops? Please select all that apply. Five Star Beauty Spa - 2.8% Barber Shop - 8.3% Shiny Touch Nail Salon - 0% None - 86.1% Have you ever visited any other Ocean Palm Plaza business. Please select all that apply. Americlean Dry Cleaner - 8.3% Boost Mobile - 2.8% Boynton Wine & Spirits - 19.4% Convenient Store - 5.6% Florida Tackle Company - 11.1% JKen Boutique - 0% Metro PCS - 5.6% Royal Beauty Supply - 0% Tornado Smoke Shop - 2.8% Wavemax Laundry - 13.9% Zala Multi-Services - 0% None - 50% Photos that were captured during the promotion can be viewed on the BBCRA Flickr page . MARKETING RECAP Coastal Star - A quarter-page ad was published in the Coastal Star to promote the event. The Coastal Star newspaper serves the eastern community of Hypoluxo Island, South Palm Beach, Manalapan, Ocean Ridge, Briny Breezes, Gulf Stream and coastal Delray which reaches out to that specific demographic (see Exhibit A). Cost: $525 Gateway Gazette - A full-page ad was published in the Gateway Gazette to promote the event. The Gateway Gazette is a community publication that shares comprehensive neighborhood news, related to city government, business and real estate, sports, and events (see Exhibit B). Cost: $381 Neighborhood News - A full-page ad was featured in the Neighborhood News to promote the event. The Neighborhood News publication is a great way to reach out to the western Boynton Beach communities. The publication is mailed to 17,500 homes/clubhouses, with over 10,000 additional subscribers that read the digital edition online and on Facebook (see Exhibit C). Cost: $450 Posters - A promotional poster was created and distributed to various locations throughout Boynton Beach, including City of Boynton Beach facilities and local businesses (see Exhibit D). Cost: $93.50 Social Media - The Boynton Beach CRA social media platforms were utilized to promote a variety of paid and organic social media marketing initiatives (see Exhibit E). Cost: $750 1683 •Attachment I - Survey Results •Exhibits A - H Street Signs - Six (6) custom street signs were designed and installed at various locations throughout Boynton Beach to promote the event (see Exhibit F). Cost: $1,190 Blog - A blog to promote the various aspects of the event was published to the BBCRA’s Boynton Beach Insider blog (see Exhibit G). Cost: $0 Billboard - A graphic was displayed on the billboard located on I-95 and Gateway Boulevard to promote the event (see Exhibit H). Cost: $0 FISCAL IMPACT: FY 2023 - 2024 Budget, Project Fund, Line Item 02-58500-480 - $30,000. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required from the CRA Board at this time. ATTACHMENTS: Description 1684 Rock The Plaza: Ocean Palm Plaza 4/27/24 Question 1 has 35 answers (Radio Buttons) “Are you a Boynton Beach resident?” Yes 29 (82.9%) No 6 (17.1%) Question 2 has 36 answers (Checkboxes) “Have you dined at Ocean Palm Plaza before this event? If so, please select all the restaurants that you have previously visited.” Alfa Pizzeria 13 (36.1%) The Seed 6 (16.7%) Bon Zouti 0 (0.0%) None 19 (52.8%) Question 3 has 35 answers (Checkboxes) “Have you ever visited any of the Ocean Palm Plaza salons or barber shop? Please select all that apply.” Five Star Beauty Spa 1 (2.8%) Barber Shop 3 (8.3%) Shiny Touch Nail Salon All Responses Question 1: Are you a Boynton Beach resident?Question 2: Have you dined at Ocean Palm Plaza before this event? If so, please select all the restaurants that you have previously visiteQuestion 3: Have you ever visited any of the Ocean Palm Plaza salons or barber shop? Please Question 4: Have you ever visited any other Ocean PQuestion 5 Feedback1685 0 (0.0%) None 31 (86.1%) Question 4 has 35 answers (Checkboxes) “Have you ever visited any other Ocean Palm Plaza business? Please select all that apply.” Americlean Dry Cleaner 3 (8.3%) Boost Mobile 1 (2.8%) Boynton Wine & Spirits 7 (19.4%) Convenient Store 2 (5.6%) Florida Tackle Company 4 (11.1%) JKen Boutique 0 (0.0%) Metro PCS 2 (5.6%) Royal Beauty Supply 0 (0.0%) Tornado Smoke Shop 1 (2.8%) Wavemax Laudry 5 (13.9%) Zala Multi-Services 0 (0.0%) None 18 (50.0%) Question 5 has 36 answers (Radio Buttons)Feedback1686 “Were you aware of the Boynton Beach Community Redevelopment Grant Programs before this event?” Yes 16 (44.4%) No 20 (55.6%) Question 6 has 36 answers (Checkboxes) “How did you hear about the Rock the Plaza event?” Social Media 19 (52.8%) Email 2 (5.6%) Poster/Street Sign 12 (33.3%) Newspaper/Magazine 1 (2.8%) From a Friend/Family Member 10 (27.8%) Question 7 has 12 answers (Open Text) “If you would like to subscribe to the BBCRA email list for future Boynton Beach Bucks deals please enter your email below. By providing your email address, you agree to receive promotional messages from the Boynton Beach CRA. Please be advised that under Florida records law, email addresses are public record. Therefore, your email address may be subject to public disclosure.”Feedback1687 Unknown contact said: "Prock813@yahoo.com" Unknown contact said: "Nicolesneller@sbcglobal.net" Unknown contact said: "Janet.munce@lpl.com" Unknown contact said: "Jh8821@gmail.com" Unknown contact said: "dherlihy19@yahoo.com" Unknown contact said: "Rgeyehheueurue" Unknown contact said: "Natalieukl@gmail.com" Unknown contact said: "mwelch39@gmail.com" Unknown contact said: "Theoptimistlady@gmail. Com "Feedback1688 Unknown contact said: "nickspaventa@optonline.net" Unknown contact said: "Kguerrieri4@gmail.com" Unknown contact said: "joycemaryq@gmail.com" Question 8 has 21 answers (Checkboxes) “If you provided your email please select what types of email material you would like to receive. ” Redevelopment 2 (5.6%) Business Outreach 1 (2.8%) Business Promotions 2 (5.6%) Events 17 (47.2%) All of the above 4 (11.1%)Feedback1689 Exhibit A – Coastal Star 1690 Exhibit B – Gateway Gazette 1691 Exhibit C – Neighborhood News 1692 Exhibit D – Posters 1693 Exhibit E – Social Media 1694 1695 1696 Exhibit F – Street Signs 1697 Exhibit G – Blog Exhibit H – Billboard 1698 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.B SUBJECT: Social Media & Print Marketing Update SUMMARY: Throughout the month of April, a variety of social media posts were made to promote various BBCRA initiatives and projects, as well as, a variety of local businesses that operate within the BBCRA area. Social Media BBCRA Project Posts : Promoted the FY 2022-2023 Annual Report, Ruth Jones Cottage - Historic Renovation and Reuse Project, Town Square, Coastal Cruiser by Circuit rideshare program, FDOT's Sidewalk and Bicycle Lane Improvements Project, and the April Redevelopment Works Newsletter. BBCRA Promotional Event Posts : Promoted the Boynton Beach Spring Market, Rock the Plaza at Ocean Plaza, and Rock the Marina. Business Promotional Posts : Utilized Facebook and Instagram feed and stories to promote a variety of businesses, such as: The Barber Republic, Soulvaki Fast, Beach House Boutique, and The Seed. Print Marketing Coastal Angler : A full page ad was published in the Coastal Angler magazine to promote the Marina. Florida Sport Fishing : A 1/4 page ad was published in Florida Sport Fishing magazine to promote the transient dockage availability at the Marina. See Attachment I for an overview of the social media and print marketing that were published in April and Attachment II for a full listing of the Facebook and Instagram posts that were shared. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund Line Item 01-57400-216 - $900 FY 2023-2024 Budget, Project Fund Line Item 02-58500-480 - $1,000 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan 1699 •Attachment I - April Marketing & Social Media Overview •Attachment II - Facebook & Instagram Posts CRA BOARD OPTIONS: No action is required at this time unless otherwise determined by the CRA Board. ATTACHMENTS: Description 1700 SOCIAL MEDIA & PRINT MARKETING OVERVIEW 1701 SOCIAL MEDIA –PROJECT POSTS 1702 SOCIAL MEDIA –PROJECT POSTS 1703 SOCIAL MEDIA –PROJECT POSTS 1704 SOCIAL MEDIA –PROMOTIONAL EVENT POSTS 1705 SOCIAL MEDIA -BUSINESS POSTS 1706 SOCIAL MEDIA -BUSINESS POSTS 1707 COASTAL ANGLER 1708 FLORIDA SPORT FISHING 1709 Facebook & Instagram Posts 1710 Facebook & Instagram Posts 1711 Facebook & Instagram Posts 1712 Facebook & Instagram Posts 1713 Facebook & Instagram Posts 1714 Facebook & Instagram Posts 1715 •Attachment I - 2nd Quarterly Report •Attachment II - Crime Stats •Attachment III - Executed Fourth Amendment to the Interlocal Agreement Between the City and CRA for NOP Operations Funding •Attachment IV - NOP FY 2023-2024 Budget COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.C SUBJECT: Neighborhood Officer Program 2nd Quarter Report for FY 2023-2024 (January 2024 - March 2024) SUMMARY: The CRA funded Neighborhood Officer Program (NOP), in partnership with the Boynton Beach Police Department, has submitted their Unit Activity Report for the 2nd Quarter (January 1 - March 31) Fiscal Year 2023-2024, along with the Heart of Boynton (HOB) District Crime Stats for the same time period (see Attachments I-II). The NOP Quarterly report is required under the the funding terms of the Interlocal Agreement between the CRA and the City of Boynton Beach for FY 2023-2024 (see Attachment III). The FY 2023-2024 NOP Budget is provided as Attachment IV. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund 02-58500-460: $695,000 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan, Heart of Boynton District (pages 105- 118) CRA BOARD OPTIONS: No action is required at this time unless otherwise determined by the CRA Board. ATTACHMENTS: Description 1716 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY NEIGHBORHOOD OFFICER POLICING PROGRAM Quarter 2 Fiscal Year 2024 Quarterly Report January 1, 2024 to March 31, 2024 1717 2 TABLE OF CONTENTS I. Community Oriented Policing Defined page 3 II. Quarterly Report Requirements page 3 III. CRA & Boynton Beach Police ILA Activities page 4 IV. Neighborhood Officer Program (NOP) • NOP Organizational Chart page 5 • Mission Statement & Tasks page 5 • Officers Quarterly Work Hours page 7 • Significant Quarterly Activities by week page 8 • Photos – Community Events & Business Walks page 19 • CRA Area Crime Statistics page 29 1718 3 Community Oriented Policing Defined Community policing definitions typically focus on three components that characterize many programs: some level of community involvement and consultation; decentralization, often increasing discretion to line-level officers; and problem solving. Because community policing is focused on close collaboration with the community and addressing community problems, it has often been seen as an effective way to increase citizen satisfaction and enhance the legitimacy of the police and the evidence is supportive in this regard. A major goal of this proposed neighborhood officer program is to cultivate high levels of mutual trust, understanding and respect between police and the residents of the neighborhoods they patrol and to ensure there is a visible presence of police in the community. In order to achieve this, it is necessary that these Community Partners develop relationships which transcend the confines of ordinary community policing activities and instead focuses upon building sustainable problem- solving partnerships. Additionally, the building of problem-solving partnerships and substantive relationships with invested members of the community will lead to a greater understanding of some of the challenges members of the public face and help the police department garner unique insights which might aid in addressing these challenges. This program helps effectively integrate police personnel into the fabric of our community. Reducing crime and disorder and improving the quality of life within historically blighted neighborhoods requires the development of these types of productive and meaningful relationships between citizens and representatives of their local government. As the most visible and accessible municipal agency, police personnel are uniquely postured to serve as a catalyst to an array of city services, community resources and organizations which can aid those in need as they work to better their circumstances and work in concert with other Community Partners to confront the challenges they identify within the community. Quarterly Report Requirements: The scope of this quarterly report is to fulfill the Program requirements set forth in the Inter-Local Agreement (ILA) between the City of Boynton Beach and the Boynton Beach Community Redevelopment Agency (CRA); whereas the CRA shall be provided a written report outlining the following: • Hours worked by the Program Officer; • Name, rank and badge number of Program officers who have worked the Program during the reporting period; • Activities undertaken to achieve the goals of the Program; and • Crime statistics for the reporting period 1719 4 CRA & BOYNTON BEACH POLICE DEPARTMENT ILA ACTIVITIES • The Boynton Beach CRA and the City will provide a visible base of operations for this Program located at 119 E. Martin Luther King Jr. Blvd. Unit #8, which will act as a neighborhood storefront police station (Under Construction). • Police personnel assigned to this Program will be assigned within the CRA area. • Assist with public education and crime prevention within the CRA area. • Identify neighborhood specific problems and help with the coordination of other City services to resolve the issues. • Implement the use of an automatic license plate reader (ALPR) as an intelligence gathering platforms. • On a quarterly basis, the Police Department shall provide the CRA with crime statistics for the CRA area along with data gathered by the ALPR and a GIS map identifying where crimes are occurring in the area. • Police personnel assigned to this unit shall patrol: (a) On foot, (b) on bicycle, or (c) on Segway vehicles, (d) on golf carts, or (e) other department issued vehicles. • Police personnel assigned to this function shall work a minimum of 40 hours a week. Twenty of these hours should be spent being visible in the community, building relationships, collecting information and providing resources and information to residents and business owners who seek to promote positive change within their neighborhood. Specific emphasis should be given to those actions which will contribute to the attainment of the goals established with Community Partners such as but not limited to attend regularly scheduled Community Partners’ meetings and establish attainable goals with measurable outcomes with Community Partners. • The schedule for these Police personnel shall not be set, established or publicly posted. Their presence should be anticipated at any time by those who may be disrupted by their integration into the CRA area. • Police personnel assigned to this function will be furnished with either cell phones or, at minimum, voicemail accounts, which will be used to correspond with police personnel directly. CRA staff shall be provided with a list of these phone numbers and protocol for telephone contact or dissemination of information by the CRA to the Officers assigned to the Program. • CRA staff shall be informed of the Neighborhood Officers hours on a regular basis. • The CRA shall be provided with an organizational chart of the Officers assigned to the Program listing rank, badge numbers and years of service. • The CRA shall be provided a quarterl y written report outlining the following: o Hours worked by the Program Officer o Name, rank and badge number of Program officers who have worked the Program during the reporting period. o Activities undertaken to achieve the goals of the Program o Crime statistics for the reporting period. 1720 5 • The Police Department shall provide an annual written report summarizing the goals achieved along with a crime statistics report and associated map. Included in the report shall be recommendations for Program changes for the next fiscal year. • Funding for the Neighbor Officer Policing Program shall be at the discretion of the CRA Board and appropriated annually. • While the CRA will provide funding to support this program, operational and supervisory control remains with the Police Department. CRA Officers & Organizational Chart: CRA Officers Mission Statement & Tasks: Mission Statement: The NOP Program is a collaborative commitment with the CRA to create a prosperous and vibrant downtown district while providing safety to the business owners, residents, and visitors. This will be accomplished by having motivated, interested, and engaged officers who know their business owners, clergy and residents and stay in tune and engaged with the community through regular face to face contacts. Through these contacts, crimes and community problems will be proactively and promptly addressed and enforced. When a community is well cared for and appropriately policed, it is more inviting to potential business owners, residents and guests and crime is collaboratively controlled through a whole of community approach. Tasks: • Solicit Trespass Agreements from all business in the CRAs district • Solicit retailers in the CRA’s district to sign up for the Telegram App. This app will be used as an information sharing mechanism between retailers and the department regarding theft suspects, vandals, trespassers etc. 1721 6 • Serve as the first line of engagement with business owners, citizens and guests to resolve needs and conflicts. • Monitor radio for in-progress crimes and nuisance calls in the CRAs District and respond and investigate those crimes. Specifically, CRA Officers are required to respond to all in progress calls to include but not limited to robberies, retail thefts, shootings, aggravated assaults & batteries, etc. • Instances of Public Nuisance have the potential to affect the health, safety, welfare, and/or comfort of the general public. Therefore, CRA Officers are required to address all observed and reported instance of public nuisance offenses, to include but not limited to public intoxication, public drinking, public urination and defecation, harassment, intimidation, and passing out in public places. • Patrol the CRA areas of the city with a positive solution-based approach. • With CRA input, identify people with significant influence within the community (members of the clergy, community activists, longstanding residents who are well- respected); work with them to cultivate partnerships and organize activities which will address the needs and challenges identified. • Work closely with Community Standards to identify and efficiently resolve code violations. • Collaborate with and develop relationships with city departments so that relevant community complaints can be promptly resolved or mitigated. • Monitor panhandlers and trespassers and take appropriate action to resolve the activity. • Utilize “My Boynton App” to log and monitor code violations and community concerns when the matter cannot be immediately addressed. • Partner with the agency’s victim advocate and community programs to provide outreach and assistance to the unhoused. • Attend monthly CRA meetings, events, and special meetings when assigned. 1722 7 CRA Officers quarterly work hours: The CRA Officers are assigned to work four (4) ten (10) hour shifts during a calendar week. During the quarter, the officers were assigned to work Monday to Thursday and Tuesday to Friday. The total number of eligible work hours per Officer in this quarter was 520 Hours. The table below depicts the officers’ individual time during the quarter: Officer Eligible Quarterly Normal Work Hours Actual CRA Patrol Hours Approved Leave Hours Approved Training Hours CRA Overtime Hours Comp. Time Earned Hours Davis 520 466 14 40 5 0 Vazquez 520 409.75 74.25 36 5.5 0 Borrero 520 354.50 39.5 126 2 0 Brown 520 420.50 15.50 84 1 0 Note: The overtime hours listed above do not include CRA Detail hours worked, other department overtime or department detail hours worked by the listed officers. The only overtime hours included above are directly attributable to CRA duties and responsibilities. Additionally, Actual Patrol hours do not include overtime hours worked of any kind and exclude approved leave hours and approved training hours. Significant Quarterly Activities Executive Summary: During the quarter the CRA Officers attended 12 community events/meetings, conducted 45 separate business/checks walks, performed 194 extra patrols, obtained 1 trespass agreement with a local business, attended 6 CRA Board\Advisory Board Meetings, made 20 arrests and performed 98 traffic stops. Business walks and checks, whether conducted solely by the CRA Officers or in collaborati on, with CRA staff, are opportunities to build bridges and relationships with the CRA District’s business Community. During these self-initiated contacts, the CRA Officers and staff listen to concerns and problems and provide information and solutions to the business community. These grass root contacts, serve as a critical information source and as a foundational basis for creativity and problem solving. Like business walks and checks, community meetings and events serve to inform the CRA Officers and Police Department Command Staff of concerns, but the concerns voiced in these venues are generally more individual and community based. At these meetings, community concerns regarding traffic problems, crime and community cleanliness are brought forward, among others. The CRA Officers and Police Staff respond to the community’s concerns by providing input and 1723 8 recommendations and when appropriate work with other city departments to resolve these concerns swiftly and efficiently. Community confidence in law enforcement increases when the community sees their police department values and responds to their concerns and needs and works in conjunctions with other city departments to institute positive change. Significant Quarterly Activities Undertaken by Week: Week 1 – 01/01/2024 to 01/07/2024 • Officers attended the Unity Project meeting at Carolyn Sims Center • Officers conducted an extra patrol of the Marine, Case#24-000800 • Officers handled a disturbance call at Riverwalk Plaza, Case#24-000809 • Officers performed an extra patrol of Sunshine Square, Case#24-000815 • Officers attended the Unity project meeting on January 3, 2024 • Officers attended the CRA advisory board meeting at City Hall on January 4, 2024 • Officers conducted two (2) traffic stops Week 2 – 01/08/2024 to 01/14/2024 • All 4 CRA Officers attended Police Mountain Bike Instructors’ School in Orlando • Captain Burdelski attended the Unity Project Meeting on January 10, 2024 Week 3 – 01/15/2024 to 01/21/2024 • Officers assisted with the Martin Luther King Jr. event at Sara Sims Park • Officers conducted an extra patrol of the Marina, Case#24-002319 • Officers handled a Domestic Dispute at 205 NE 13th Ave. Case#24-001562 • Officers handled a suspicious person at 1634 S. Federal Hwy., 24-001663 • Officers performed an extra patrol at Ocean Food Mart 101 N. Federal Hwy., Case# 24- 002391 • Officers handled a traffic complaint at 500 W. Gateway Blvd., Case#24-002294 • Officers performed an extra patrol at Carolyn Sims 225 NW 12th Ave., Case#24-002377 • Officers performed an extra patrol at Seacrest Food Mart 1005 N. Seacrest Blvd., Case# 24-002392 • Officers issued a Trespass Warning at the City Library, Case#24-001615 • Officers conducted an extra patrol at Sunshine Square, Case#24-002898 • Officers handled a disturbance call at Ocean Palm Plaza, Case#24-002947 • Officers performed an extra patrol of Cherry Hill 1213 NW 4th St., Case#24-002969 • Officers performed a business check of Walmart 3625 S. Federal Hwy., Case#24-002978 • Officers performed an extra patrol of Dollar General 100 NE 10th Ave., Case#24-0029922 • Officers conducted an extra patrol at Express Food & Beverage, Case#24-002981 1724 9 • Officers performed an extra patrol of Ocean Plaza 640 E. Ocean Ave., Case#24-002962 • Officers handled a welfare check at 1632 N. Federal Hwy., Case#24-003010 • Officers attended the Unity Project Meeting on January 17, 2024 • Officers attended the CRA board meeting on January 18, 2024 • Officers conducted eleven (11) traffic stops resulting in three (3) arrests Week 4 – 01/22/2024 to 01/28/2024 • Officers handled a loitering call at the Inn, Case#24-001830 • Officers arrested an individual for possession of contraband at the Inn, Case#24-001831 • Officers conducted an extra patrol at Palmetto Green Park, Case#24-004026 • Officers performed an extra patrol at 1415 S. Federal Hwy., Case#24-004027 • Officers conducted an extra patrol at 420 SE 4th St., Case#24-004013 • Officers responded to a robbery at 126 W. Boynton Beach Blvd., Case#24-001833 • Officers preformed an extra patrol of City Hall, Case#24-004047 • Officers handled a disturbance call at 315 S. Federal Hwy., Case#24-003922 • Officers made a trespassing arrest at 1005 N. Seacrest Blvd., Case#24-001886 • Officers completed an extra patrol of Heritage Club, Case#24-004361 • Officers performed an extra patrol at Walmart, Case#24-004347 • Officers made a traffic arrest at 200 NE 10th Ave., Case#24-001877 • Officers assisted with the PAL Youth Flag Football practice • Officers conducted an extra patrol at 1500 N. Federal Hwy., Case#24-004685 • Officers conducted an extra patrol at 400 NE 10th Ave., Case#24-004690 • Officers conducted an extra patrol at 1213 NW 4th St., Case#24-004708 • Officers conducted a police assist at the City Library, Case#24-001930 • Officers performed an extra patrol of Sunshine Square, Case#24-004903 • Officers conducted an extra patrol at 100 NE 10th Ave. Case#24-004951 • Officers performed an extra patrol at Palmetto Greens Park, Case#24-004926 • Officers performed an extra patrol of the Marina, Case#24-004932 • Officers made a traffic arrest at 2700 S. Federal Hwy., Cad#24-001979 • Officers made a traffic arrest at 1400 N. Seacrest Blvd., Cad#24-001977 • Officers attended the Heart of Boynton Meeting • Officers conducted fourteen (14) traffic stops Week 5 – 01/29/2024 to 02/04/2024 • Officers conducted a Baker Act investigation and took an individual into custody, Case#24-002173 • Officers conducted an extra patrol of the Marina, Case#24-006091 • Officers performed an extra patrol of Intracoastal Park, Case#24-006096 • Officers handled a suspicious person at 200 N. Federal Hwy., Case#24-006414 1725 10 • Officers performed an extra patrol at Sunshine Square, Case#24-006287 • Officers performed an extra patrol of Palmetto Green Park, Case#24-006403 • Officers conducted an extra patrol at Ocean Plaza, Case#24-006410 • Officers conducted an extra patrol of Riverwalk Plaza, Case#24-006411 • Officers made a traffic arrest and 1400 N. Federal Hwy., Case#24-002220 • Officers handled a suspicious person call at the Kwik Stop, Case#24-002207 • Officers did an extra patrol of Sunshine Square, Case#24-006613 • Officer performed an extra patrol of Walmart, Case#24-006580 • Officers performed an extra patrol of Sunshine Square, Case#24-006613 • Officers conducted an extra patrol of Ocean Breeze Apartments, Case#24-006595 • Officers performed an extra patrol of Cherry Hill, Case#24-006598 • Officers conducted an extra patrol of Ocean Palm Plaza, Case#24-006601 • Officers performed an extra patrol of Ocean Breeze Apartments, Case#24-006667 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-006656 • Officers made a traffic arrest at 500 W. Boynton Beach Blvd., Case#24-002261 • Officers conducted an extra patrol of the boat ramp, Case#24-006637 • Officers attended the Heart of Boynton Meeting • Officers performed an extra patrol at 2360 N. Federal Hwy., Case#24-006965 • Officers performed a business check at 612 S. Federal Hwy., Case#24-006970 • Officers performed a business check at 301 N. Federal Hwy., Case#24-006969 • Officers issued a trespass warning from Pet Supermarket., Case#24-002328 • Officers conducted a field interview at Palmetto Green Park, Case#24-002324 • Officers performed a business check at 524 E. Gateway Blvd, Case#24-006958 • Officer conducted an extra patrol at Sunshine Square, Case#24-006957 • Officers performed an extra patrol at Ocean Palm Plaza, Case#24-006961 • Officers performed an extra patrol at Riverwalk Plaza, Case#24-006963 • Officers conducted a business check at One Boynton, Case#24-006974 • Officers performed an extra patrol at Sunshine Square, Case#24-007033 • Officers performed and extra patrol at Chevron, Case#24-007021 • Officers conducted an extra patrol of Ocean Breeze Apartments, Case#24-007005 • Officers handled a theft call at 1487 S. Federal Hwy., Case#24-002312 • Officers attended the CRA advisory board meeting on February 1, 2024 • Officers conducted eight (8) traffic stops Week 6 – 02/05/2024 to 02/11/2024 • Officers conducted an extra patrol at 1331 S. Federal Hwy., Case#24-007971 • Officers performed a business check at Walmart, Case#24-007986 • Officers performed an extra patrol at Ocean Palm Plaza, Case#24-008092 • Officers handled a police assist at 520 SE 21st Ave (Golden Sands), Case#24-008025 • Officers conducted a business check at Sunshine Square, Case#24-008018 1726 11 • Officers performed an extra patrol of the Boat Ramp, Case#24-008101 • Officers performed an extra patrol of City Hall, Case#24-008103 • Officers made a warrant arrest at 520 SE 21st Ave (Golden Sands), Case#24-002505 • Officers conducted a business check of Walmart, Case#24-008304 • Officers obtained a trespass agreement with Avion Riverwalk Apartments, Case#24- 002531 • Officers handled a suspicious person call at Avion Riverwalk Apartments, Case#24- 008297 • Officers handled a suspicious person call at Walmart, Case#24-008325 • Officers performed an extra patrol of 100 E. Ocean Ave (City Hall), Case#24-008367 • Officers performed an extra patrol of 524 E. Gateway Blvd (Kwik Stop), Case#24-008354 • Officers performed an extra patrol of Avion Riverwalk Apartments, Case#24-008598 • Officers performed an extra patrol of 301 N. Federal Hwy (CVS), Case#24-008607 • Officer performed an extra patrol of 100 NE 10th Ave (Dollar General), Case#24-008662 • Officers conducted a business check at Walmart, Case#24-008675 • Officers performed an extra patrol of Ocean Palm Plaza, Case#24-008676 • Officers performed an extra patrol of 217 N. Federal Hwy., (Chevron), Case#24-008705 • Officers performed an extra patrol of 100 E. Ocean Ave (City Hall), Case#24-008656 • Officers performed an extra patrol of Sunshine Square, Case#24-008651 • Officers performed an extra patrol of Marina Village, Case#24-008866 • Officers made a traffic arrest at 100 NE 12th Ave., Case#24-002612 • Officers performed an extra patrol of Ocean Breeze Apartments), Case#24-008925 • Officers performed and extra patrol of Marina Village, Case#24-008942 • Officers handled a traffic complaint at 500 W. Gateway Blvd, Case#24-008910 • Officers conducted a business check of Sunshine Square, Case#24---8944 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-008949 • Officers performed an extra patrol of One Boynton, Case#24-008953 • Officer Brown & Captain Burdelski attended the Marina Village Community Meeting on February 7, 2024 • Officers conducted six (6) traffic stops Week 7 – 02/12/2024 to 02/18/2024 • Officers issued a trespass warning at 100 E. Ocean Ave (City Hall), Case#24-002805 • Officers conducted a business check at Sunshine Square, Case#24-009927 • Officers conducted a business check at One Boynton, Case#24-009995 • Officers performed an extra patrol of Sunshine Square, Case#24-009994 • Officers performed an extra patrol of 1213 NW 4th Street, Case#24-010057 • Officer handled a welfare check call at 125 E. Ocean Ave., Case#24-010065 • Officers conducted a business check at Sunshine Square, Case#24-010245 • Officers conducted a business check of Walmart, Case#24-010274 1727 12 • Officers performed an extra patrol of City Hall, Case#24-010292 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-010286 • Officers performed an extra patrol of Sunshine Square, Case#24-010288 • Officers performed an extra patrol of Marina Village, Case#24-010349 • Officers performed an extra patrol of the Dollar General, Case#24-010386 • Officers handled a shoplifting at 1800 NE 6th Street, Case#24-002872 • Officers handled a theft report at 1634 S. Federal Highway (Walgreens), Case#24-002922 • Officers made a traffic arrest at 400 W. Boynton Beach Blvd., Case#24-002922 • Officers performed an extra patrol at The Inn, Case#24-010670 • Officers performed an extra patrol of Marina Village, Case#24-010672 • Officers handled a traffic complaint at 500 W. Gateway Blvd, Case#24-010662 • Officers conducted a business check of Riverwalk Plaza, Case#24-010609 • Officers conducted an extra patrol of Express Food & Beverage, Case#24-010626 • Officers performed an extra patrol of the Marina, Case#24-010632 • Officers made a criminal arrest at Dollar General, Case#24-002932 • Officers conducted a business check the Marina, Case#24-010896 • Officers performed two extra patrols of the Marina, Case#24-010880 & 24-010904 • Officers handled a suspicious person at Seabourn Cove, Case#24-010954 • Officers conducted a business check of Riverwalk Plaza, Case#24-010921 • Officers conducted an extra patrol of Sunshine Square, Case#24-010933 • Officers conducted a business check of One Boynton, Case#24-010939 • Officers performed an extra patrol of The Inn, Case#24-010947 • Officers performed an extra patrol of Marina Village, Case#24-011005 • Officers performed an extra patrol of Ocean Plaza, Case#24-010969 • Officers handled a suspicious person call at City Hall, Case#24-010974 • Officers attended the CRA board meeting on February 13, 2024 • Officers conducted three (3) traffic stops Week 8 – 02/19/2024 to 02/25/2024 • Officers handled a suspicious person call at 103 E. Boynton Beach Blvd., Case#24- 012185 • Officers conducted a business check of Walmart, Case#24-012142 • Officers conducted an extra patrol of 524 E. Gateway Blvd (Kwik Stop), Case#24- 012143 • Officers conducted a baker act investigation at 615 NE 7th Ave, Case#24-003142 • Officers performed an extra patrol of Sunshine Square, Case#24-012146 • Officers performed an extra patrol of Marina Village, Case#24-012116 • Officers performed an extra patrol of Pence Park, Case#24-012488 • Officers conducted a business check of Walmart, Case#24-012468 • Officers performed an extra patrol of 131 E. Boynton Beach Blvd, Case#24-012484 1728 13 • Officers performed an extra patrol of (Marina Village), Case#24-012390 • Officers assisted FD at 501 SE 18th Ave (Sunshine Square), Case#24-012492 • Officers conducted an extra patrol of Walmart, Case#24-012395 • Officers conducted a business check of One Boynton, Case#24-012401 • Officers made a possession of contraband arrest at 400 E. Boynton Beach Blvd., Case#24-003195 • Officers performed an extra patrol of Walmart, Case#24-012816 • Officers conducted a business check of Sunshine Square, Case#24-012739 • Officers performed an extra patrol of One Boynton, Case#24-012684 • Officers performed an extra patrol of Marina Village, Case#24-012782 • Officers performed an extra patrol of Sunshine Square, Case#24-012726 • Officers performed an extra patrol of City Hall, Case#24-012741 • Officers performed an extra patrol of Sunshine Square, Case#24-012734 • Officers made a warrant arrest at 1800 S. Federal Highway, Case#24-003251 • Officers did a field interview at 501 SE 18th Ave (Sunshine Square), Case#24-003288 • Officer performed an extra patrol of Sunshine Square, Case#24-013078 • Officers conducted a business check of Ace Hardware, Case#24-013116 • Officers conducted a business check of Riverwalk Plaza, Case#24-013099 • Officers conducted a business check of One Boynton, Case#24-013125 • Officers conducted nine (9) traffic stops Week 9 – 02/26/2023 to 03/03/2024 • Officers handled a suspicious person call at 700 Casa Loma Blvd., Case# 24-014328 • Officers performed an extra patrol at 700 Casa Loma Blvd., Case# 24-014338 • Officers made a drug arrest at 1919 N. Seacrest Blvd., Case# 24-003525 • Officers performed an extra patrol of Marina Village., Case# 24-014629 • Officers performed an extra patrol of Ocean Palm Plaza., Case# 24-014615 • Officers performed an extra patrol of 600 SE 4th Street (Pence Park), Case# 24-014594 • Officers handled a domestic dispute call at 1331 S. Federal Hwy., Case# 24-003522 • Officers performed an extra patrol at 743 NE 1st Ave. (Marina), Case#24-014533 • Officers performed an extra patrol at 524 E. Gateway Blvd., (Kwik Stop) 24-014572 • Officers performed an extra patrol at One Boynton, Case#24-014496 • Officers performed an extra patrol at 2000 S. Federal Hwy., Case#24-014523 • Officers handled a police assist call at 100 E. Ocean Ave. (Library), Case#24-014617 • Officers handled a suspicious person call at 1810 S. Federal Hwy., Case#24-003524 • Officers performed an extra patrol at 3625 S. Federal Hwy. (Walmart), Case# 24-014518 • Officers performed an extra patrol at 100 E. Ocean Ave. (City Hall), Case#24-014826 • Officers performed an extra patrol at Poinciana Elementary School, Case#24-014820 • Officers performed an extra patrol at Dollar General, Case#24-014797 1729 14 • Officers performed 2 extra patrols at the Marina Village, Case#24-014880 & 24-014860 • Officers performed an extra patrol at Rolling Green Elementary, Case#24-014825 • Officers made a narcotics arrest at 1600 N. Federal Hwy., Case#24-003570 • Officers performed an extra patrol at 2000 S. Federal Hwy., Case#24-014788 • Officers performed an extra patrol at Galaxy Elementary, Case#24-014817 • Officers conducted a business check of Sunshine Square, Case#24-014875 • Officers performed an extra patrol of Sunshine Square, Case#24-014805 • Officers performed and 2 extra patrols of Riverwalk Plaza, Case#’s24-014807 & 014808 • Officers conducted a business check of Sunshine Square, Case#24-014923 • Officers performed an extra patrol of Ocean Breeze East, Case#24-014916 • Officers performed an extra patrol of 623 S. Federal Highway, Case#24-015185 • Officers performed an extra patrol of Pence Park, Case#24-015246 • Officers performed an extra patrol of the Marina, Case#24-015252 • Officers performed an extra patrol of 400 E. Ocean Ave., Case#24-015138 • Officers handled a suspicious person call at Gateway Blvd & High Ridge Rd. Case#24- 015172 • Officers handled a suspicious person call at Walmart, Case#24-015108 • Officers handled a trespassing call at Dollar General, Case#24-003627 • Officers made a drug arrest at 600 NW 2nd Street, Case#24-003638 • Officers made a warrant arrest at 1147 S. Federal Hwy., Case#24-003650 • Officers conducted a business check at Ocean Palm Plaza, Case#24-015065 • Officers performed an extra patrol of 2000 S. Federal Hwy., Case#24-015161 • Officers performed an extra patrol of One Boynton, Case#24-015177 • Officers performed an extra patrol of Sunshine Square, Case#24-015102 • Officers performed an extra patrol of Intracoastal Park, Case#24-015072 • Officers assisted with an Aggravated Battery with a Firearm call at 548 SE 27th Ter., Case#24-003616 • Officers performed an extra patrol of Sunshine Square, Case#24-01523 • Officers performed an extra patrol of Walmart, Case#24-015234 • Officers performed two extra patrols at the Marina, Case#24-015127 & 24-015435 • Officers performed an extra patrol of 401 N. Railroad Ave., Case#24-015438 • Officers performed an extra patrol of Dollar General, Case#24-015425 • Officers handled a suspicious incident at 799 E. Ocean Ave., Case#24-015396 • Officers conducted a business check at Walmart, Case#24-015407 • Officers attended the Coalition of Clergy Community Meeting on February 26, 2024 • Officers attended the Unity Project Meeting on February 27, 2024 • Officers provided a NOP presentation to the attendees at the police department’s Citizen Academy on February 28, 2024 • Officer conducted six (6) traffic stops 1730 15 Week 10 – 03/04/2024 to 03/10/2024 • Officers performed an extra patrol of 400 E. Ocean Ave., Case#24-016187 • Officers handled a suspicious person call at 548 E. Woolbright Rd. Case#24-003829 • Officers handled a drug overdose call at 222 W. Boynton Beach Blvd., Case#24-003835 • Officers performed an extra patrol of Walmart, Case#24-016400 • Officers conducted a business check at Sunshine Square, Case#24-016383 • Officers conducted an extra patrol of the Marina, Case#24-016392 • Officers conducted an extra patrol of the Dollar General, Case#24-016433 • Officers performed a business check of the Walmart, Case#24-016654 • Officers conducted an extra patrol of 580 E. Woolbright Rd., Case#24-016665 • Officers conducted an extra patrol of the Marina, Case#24-016731 • Officers handled a theft call at 1300 N. Railroad Ave., Case#24-003910 • Officers conducted an extra patrol of SE 23rd Ave. & SE 3rd St., Case#24-016736 • Officers handled a disturbance call at 510 E. Boynton Beach Blvd., Case#24-17044 • Officers conducted an extra patrol of 407 NE 1st St., Case#24-017051 • Officers conducted an extra patrol of 800 N. Federal Hwy., Case#24-017273 • Officers conducted an extra patrol of 2521 S. Federal Hwy., Case#24-017212 • Officers conducted an extra patrol of 400 SE 10th Ave., Case#24-017221 • Officers conducted an extra patrol of 1810 S. Federal Hwy., Case#24-017270 • Officers conducted an extra patrol of 400 N. Federal Hwy., Case#24-003999 • Officers conducted an extra patrol of 8400 Lawrence Rd., Case#24-017184 • Officers conducted an extra patrol of 1520 S. Federal Hwy., Case#24-017201 • Officers conducted an extra patrol of 225 SE 23rd Ave., Case#24-017233 • Officers conducted an extra patrol of 2900 S. Federal Hwy., Case#24-017247 • Officers conducted an extra patrol of Walmart, Case#24-017220 • Officers conducted an extra patrol of One Boynton, Case#24-017202 • Officers conducted an extra patrol of 301 N. Federal Hwy., Case#24-017277 • Officers attended the CRA advisory board meeting on March 7, 2024 • Officers conducted seven (7) traffic stops Week 11 – 03/11/2024 to 03/17/2024 • Officers conducted an extra patrol of Walmart, Case#24-018167 • Officers conducted an extra patrol of the Marina, Case#24-018165 • Officers conducted an extra patrol of Riverwalk Plaza, Case#24-018170 • Officers conducted an extra patrol of EZ Mart, Case#24-018384 • Officers conducted an extra patrol of 2300 S. Federal Hwy., Case#24-018355 • Officers conducted an extra patrol of the Marina, Case#24-018371 1731 16 • Officers assisted with an aggravated battery with a firearm call at 550 NW 9th Ave., Case#24-004234 • Officers handled a suspicious person call at Sara Sims Park., Case#24-004229 • Officers conducted an extra patrol of Riverwalk Plaza, Case#24-018700 • Officers assisted with an aggravated battery with a firearm call at 2509 NE 4th Court, Case#24-004287 • Officers conducted an extra patrol of Palmetto Green Park, Case#24-018770 • Officers conducted an extra patrol of 743 NE 1st Ave. Case#24-018979 • Officers performed a business check of One Boynton, Case#24-019029 • Officers performed an extra patrol of 640 E. Ocean Ave., Case#24-018982 • Officers performed a business check of Walmart, Case#24-019011 • Officers conducted an extra patrol of City Hall, Case#24-018969 • Officers performed an extra patrol of Sunshine Square, Case#24-019110 • Officers performed an extra patrol of Poinciana Elementary School, Case#24-019314 • Officers conducted eleven (11) traffic stops Week 12 – 03/18/2024 to 03/24/2024 • Officers performed an extra patrol of 400 E. Ocean Ave., Case# 24-020240 • Officers handled a suspicious person call at 509 E. Boynton Beach Blvd., Case#24- 004575 • Officers performed a business check at Sunshine Square, Case#24-020423 • Officers performed an extra patrol of Pence Park, Case#24-020478 • Officers performed an extra patrol of City Hall, Case#24-020488 • Officers performed an extra patrol of Marina Village, Case#24-020483 • Officers conducted a business check of Sunshine Square, Case#24-020376 • Officers handled a suicide call at 213 SW 9th Ave., Case#24-004554 • Officers performed an extra patrol of Riviera Drive & S. Federal Hwy., Case#24-020631 • Officers performed an extra patrol of 1600 S. Federal Hwy., Case#24-020697 • Officers performed an extra patrol of the Marina., Case#24-020712 • Officers performed an extra patrol of City Hall, Case#24-020717 • Officers handled a business alarm call at 222 W. Boynton Beach Blvd., Case#24-004629 • Officers handled a suspicious person call at 2141 NE 1st Ct. Case#24-004622 • Officers handled a suspicious person call at 125 E. Ocean Ave., Case#24-020684 • Officers conducted an extra patrol of the Marina, Case#24-020620 • Officers performed a business check at Walmart, Case#24-020647 • Officers performed a business check at 2300 S. Federal Hwy., Case#24-020629 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-020994 • Officers conducted a business check of 301 N. Federal Hwy., Case#24-020946 • Officers handled a police assist call at 410 NE 5th Ave., Case#24-020985 • Officers performed an extra patrol of the Marina, Case#24-020992 1732 17 • Officers attended the CRA board meeting on March 21, 2024 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-021251 • Officers performed an extra patrol of City Hall, Case#24-021208 • Officers conducted a business check of One Boynton, Case#24-021140 • Officers performed an extra patrol of the Marina, Case#24-021194 • Officers performed an extra patrol of Walmart, Case#24-021179 • Officers performed an extra patrol of 1517 S. Federal Hwy., Case#24-021244 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-021146 • Officers conducted twelve (12) traffic stops Week 13 – 03/25/2024 to 03/31/2024 • Officers performed an extra patrol of Sunshine Square • Officers had an arrest to BSO for Felony Retail Theft, Case#24-004874 • Officers conducted a business check at Riverwalk Plaza, Case#24-022276 • Officers conducted a business check at Walmart, Case#24-022218 • Officers performed an extra patrol of Sunshine Square, Case#24-022287 • Officer handled a suspicious person call at City Hall, Case#24-004941 • Officers conducted a business check at One Boynton, Case#24-022189 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-022289 • Officers performed an extra patrol of 700 Casa Loma Blvd., Case#24-022282 • Officers performed an extra patrol of Industrial Ave. Case#24-022279 • Officers performed an extra patrol of Sunshine Square, Case#24-022278 • Officers performed an extra patrol of the Marina, Case#24-022208 • Officers performed an extra patrol of Sunshine Square, Case#24-022293 • Officers performed an extra patrol of 700 Casa Loma Blvd., Case#24-022323 • Officers conducted a business check at Walmart, Case#24-022484 • Officers conducted a business check at the Marina, Case#24-004966 • Officers made a traffic arrest at 700 NE 1st Ave., Case#24-004988 • Officers performed an extra patrol of Sunshine Square, Case#24-022602 • Officers conducted a business check at Sunshine Square, Case#24-022480 • Officers performed an extra patrol of 407 NE 1st Ave. Case#24-022503 • Officers performed an extra patrol of Sunshine Square, Case#24-022502 • Officers performed an extra patrol of Riverwalk Plaza, Case#24-022507 • Officers performed an extra patrol of One Boynton, Case#24-022513 • Officers made a traffic arrest at 1100 S. Seacrest Blvd., Case#24-004969 • Officers assisted with a strong-armed robbery case at 312 E. Boynton Beach Blvd. Case# 24-004968 • Officers performed an extra patrol of Sunshine Square, Case#24-022759 • Officers performed an extra patrol of the Marina, Case#24-022770 • Officers performed an extra patrol of 1213 NW 4th St. (Cherry Hill), Case#24-022801 1733 18 • Officers performed an extra patrol of One Boynton, Case#24-022777 • Officers performed an extra patrol of Sunshine Square, Case#24-022799 • Officers performed a suspicious person call at Palmetto Green Park, Case#24-005011 • Officers performed an extra patrol of 200 E. Boynton Beach Blvd., Case#24-022821 • Officers performed an extra patrol of City Hall, Case#24-002826 • Officers performed an extra patrol of Walmart, Case#24-022995 • Officers performed an extra patrol of Sunshine Square, Case#24-023004 • Officers performed an extra patrol of the Marina, Case#24-023014 • Officers performed an extra patrol of Ocean Palm Plaza, Case#24-023021 • Officers performed an extra patrol of the Marina, Case#24-023054 • Officers attended the Coalition of Clergy Community Meeting on March 25, 2024 • Officers attended the Unity Project Meeting on March 26, 2024 • Officer conducted nine (9) traffic stops Note* The use of Case# (number) above refers to either a case number where a report was generated or to a computer aided dispatch (CAD) number. These numbers are provided to allow for verification of the listed incidents if necessary. 1734 19 Community Events & Business Walk Photos: Martin Luther King Celebration – Sara Sims Park – January 18, 2024 1735 20 1736 21 1737 22 1738 23 Police Athletic League – Carolyn Sims Center – January 29, 2024 1739 24 Shopping for Kids vs. Cops Event – Walmart – February 20, 2024 1740 25 1741 26 1742 27 1743 28 Bike Safety Event – March 30, 2024 1744 29 CRA Crime Statistics January 1, 2024 to March 31, 2024: 1745 30 1746 CRA DISTRICT CRIME STATS JANUARY –MARCH 2024 1747 CRA DISTRICT CRIME STATS 1748 CRA DISTRICT CRIME STATS AGG ASSAULT 7%BURGLARY 9% DRUG OFFENSE 39% OTHER LARCENY 21% ROBBERY 2% SEXUAL BATTERY 1% SHOPLIFTING 5% STOLEN VEHICLE 6% VEHICLE BURGLARY 10% CRA DISTRICT 1749 1750 1751 1752 1753 1754 1755 1756 Category FY 2023 QTY Unit Cost FY 2024 Notes Personnel Officer Salaries & Incentives 259,384 4 87,728 350,913 Salary, Education Incentive Officer Benefits-Pension 100,997 4 49,187 196,747 Pension Officer Benefits 50,011 4 16,726 66,905 Healthcare, Dental, Vision, FICA Officer Overtime - 4 10,000 40,000 Police Service Aide (Civilian) Salary & Incentive 36,513 0 - Salary, Education Incentive (AVG) Police Service Aide (Civilian) Benefits-Pension 10,978 0 - Pension (AVG) Police Service Aide (Civilian) Benefits 12,883 0 - Healthcare, Dental, Vision, FICA (AVG) Total Personnel Costs $ 470,766 $ 654,565 Operating Expenses Cell Phones Service Plan 2,700 4 750 3,000 Cell Phones for CRA Officers Office Supplies / Misc Supplies 2,000 2,500 2,500 Office Supplies (incl printer/ copier) Office Electric, Cable/ Internet, water/sewage 6,180 12 1,000 12,000 Monthly Operating Cost Office Space Monthly Maintenance - 12 167 2,000 AC Filters/Repairs etc. Office Cleaning 1,500 12 167 2,000 City Cleaning Crew Computer equipment 1,000 4 - Misc, Cameras Uniform 2,000 4 563 2,250 uniforms,belts Community Events/Promotions 4,000 1 5,000 5,000 Youth Programs Training 4,000 4 2,000 8,000 CPTED, STEP academy - - Total Operating Expense $ 23,380 $ 36,750 Equipment Misc. Equipment - As needed 2,500 1 3,000 3,000 Misc. Equipment Segway (Maintenance) 1,000 3 - Preventative maintenance Total Equipment Costs $ 3,500 $ 3,000 Total Proposed Program Expenses $ 497,646 $ 694,315 FY 2024 ILA Amount 694,315$ NOTE: All amounts provided by Police Department with exception of Contingency and ILA amount for FY 2023-2024 FY 2024 COMPREHENSIVE ANNUAL BUDGET- CRA NEIGHBORHOOD POLICING PROGRAM 1757 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.D SUBJECT: CRA Economic & Business Development Grant Program Update SUMMARY: The CRA's reimbursable Economic Development Grants provide 50% of the project costs in matching funding for rent and commercial property improvements. The grant programs continue to further the CRA's mission to activate vacant commercial space, assist businesses, create jobs and develop a vibrant downtown. Grant guidelines and applications can be downloaded from the CRA website www.boyntonbeachcra.com. Below is a status report of the CRA's Economic Development Grant Programs and Business Development activities for FY 2023-2024: FY 2023-2024 Budget $600,000 Mid-year Budget Adjustment $250,000 Grants Awarded Since October 10, 2023 ($749,207) Remaining Fund Balance as of 5/7/24: $100,793 List of CRA Board approved Economic Development Program Grantees since October 10, 2023: FY2023-2024 CRA Economic Development Grant Recipients Business Name Business Address Business Type Grant Funds Approved Total Funds Disbursed Year-to- Date 1758 Squeeze and Drip Boynton Beach LLC d/b/a The Seed 1600 N. Federal Highway, Unit 14-15 Bakery and Coffee Shop Rent Reimbursement $24,000 $14,000 Trilogy Fitness & MMA LLC 1550 N. Federal Highway, Unit 4-10 Fitness Center Rent Reimbursement $21,000 $12,500 Nate & Maddie LLC d/b/a ROK Prime Korean BBQ 1729 S. Federal Highway Restaurant Rent Reimbursement Property Improvement $74,000 $0 Stoic Financial LLC 1200 S. Federal Highway, Suite 201 Professional Office Rent Reimbursement $18,000 $7,500 Bi-Square Inc. 1080 S. Federal Highway Commercial Building Property Improvement $22,185 $0 Dimensional Health Care LLC 458 N. Federal Highway, Unit 5 Medical Office Rent Reimbursement Property Improvement $44,176 $0 Gillion & Co. Inc. 137 NE 10th Avenue, Unit 107 Professional Office Rent Reimbursement Property Improvement $40,561 $3,525 Jken Boutique 1600 N. Federal Highway, Unit 9 Retail Rent Reimbursement $17,550.54 $4,387.65 Casa Costa Cafe LLC d/b/a Cafe Prelude 400 N. Federal Highway, Unit 8 Bakery Cafe Rent Reimbursement $9,150 $1,525 Agape Health & Wellness LLC 137 NE 10th Avenue, Unit 102 Professional Office Rent Reimbursement Property Improvement $41,774 $2,625 Forward Leaders Group LLC d/b/a Eat Dope Vegan 137 NE 10th Avenue, Unit 105 Restaurant Rent Reimbursement Property Improvement $65,950 $0 1759 NYPD Pizza at Casa Costa LLC 400 N. Federal Highway, Unit 9 Restaurant Rent Reimbursement $17,500 $2,916.70 Dalo Restaurant LLC 1017 N. Federal Highway Take-out Restaurant Rent Reimbursement $19,200 $0 Gandhi Health & Wellness LLC 630 E. Woolbright Road, Suite B-C Medical Office Rent Reimbursement Property Improvement $56,000 $0 Safai LLC d/b/a Safai 470 N. Federal Highway, Unit 3 Restaurant Rent Reimbursement Property Improvement $57,232 $0 PolitiCALM LLC 137 NE 10th Avenue, Unit 106 Professional Office Rent Reimbursement Property Improvement $37,750 $0 Nate & Maddie LLC d/b/a ROK Prime Korean BBQ 1729 S. Federal Highway Restaurant Property Improvement $2,650 $0 Pending May 14, 2024 Approval Potiwa Pizza LLC 137 NE 10th Avenue, Unit 104 Restaurant Rent Reimbursement Property Improvement $65,062.88 $0 Jken Boutique 1600 N. Federal Highway Retail Property Improvement $2,753.70 $0 Blueheart Adult Day Care Center L.L.C. 709 S. Federal Highway, Unit 1 Medical Rent Reimbursement Property Improvement $50,000 $0 Appliance King of America Inc. 622 N. Federal Highway Retail Rent Reimbursement $7,500 $0 Elite A & N Catering LLC d/b/a Armenia 1550 N. Federal Highway, Unit 12 Grocer/Market Rent Reimbursement Property Improvement $34,211.51 $0 Beach House Boutique Inc. 1120 S. Federal Highway Retail Rent Reimbursement $21,000 $0 1760 List of Business Tax Receipts issued in March and April 2024 within the CRA boundaries. Business Name Business Address Business Type Cafe Prelude 312 N. Federal Highway Bakery Studio 3 640 E. Ocean Avenue Photography Palm Beach Safe & Vault 640 E. Ocean Avenue Information Services Dalo Restaurant 1017 N. Federal Highway Take-Out Restaurant Safai 470 N. Federal Highway Restaurant Tropical Troy 640 E. Ocean Avenue Florist FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $600,000 plus $250,000 mid- year reallocation CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: No action is required at this time unless otherwise determined by the CRA Board. 1761 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: May 14, 2024 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.E SUBJECT: MLK Jr. Boulevard Corridor Mixed Use Project (d/b/a Heart of Boynton Village Apartments) Update - May 2024 SUMMARY: The MLK Jr. Boulevard Corridor Commercial Redevelopment and Affordable Multi-Family Rental Apartment Project will provide 124 affordable multi-family rental units, as well as, 8,250 square feet of leasable commercial space (Attachments I-III). Since the last CRA Board meeting, the following progress has been made (see Attachment IV): East Building Centennial Management Corp. (CMC) is working on the metal roof, landscaping and hardscaping. Drywall, dishwashers, refrigerators, ovens, microwaves, electrical, plumbing fixtures, molding, hot water heater, tile, windows, doors, elevator, balcony railings and cabinets have been installed on the rental units. North Building CMC is working on punchlist items. Drywall, dishwashers, refrigerators, ovens, microwaves, electrical, plumbing fixtures, molding, hot water heater, tile, windows, doors, elevator, balcony railings and cabinets have been installed on the rental units. CMC has obtained a residential temporary certificate of occupancy and the units are fully leased. West Building CMC is working on the metal roof, landscaping, hardscaping, elevator, appliances in the units and tile in the lobby. Drywall, dishwashers, electrical, plumbing fixtures, molding, hot water heater, tile, windows, doors, balcony railings and cabinets have been installed on the rental units. The CRA staff is continuing to coordinate with CMC on leasing the commercial spaces. The construction timeline estimates the Project will be completed in the Spring of 2024. Until completion, monthly project construction updates will be provided to the CRA Board. FISCAL IMPACT: Fiscal Year 2021-2022 Budget; Project Fund Line Item 02-58200-406 - Local Government Match Contribution $625,750 and Commercial/Retail Component $2,025,815 (commercial component); TIRFA $1,630,280 and $433,008.45 Second Development Agreement for the Residential Component. 1762 •Attachment I - MLK Jr Blvd Project Site Plan - North •Attachment II - MLK Jr Blvd Project Site Plan - South •Attachment III - MLK Jr. Blvd. Mixed Use Development Project Renderings •Attachment IV - MLK Jr. Blvd Progress Photos CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: No action is required at this time unless otherwise determined by the CRA Board. ATTACHMENTS: Description 1763 74-2018 "IT IS A VIOLATION OF THE LAW FOR ANY PERSON, UNLESS ACTING UNDER THE DIRECTION OF A LICENSED ARCHITECT TO ALTER THESE PLANS AND SPECIFICATIONS." THIS DOCUMENT CONTAINS PROPERTY INFORMATION AND SHALL NOT BE USED OR REPRODUCED, OR ITS CONTENTS DISCLOSED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF GALLO HERBERT ARCHITECTSCONTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.SCALE DATE DRAWN BY CHECKED BY No.Description Date1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442PH. 954.794.0300 FX. 954.794.0301DRAWING TITLE DRAWING NUMBER OWNER PROJECT REVISIONS PROJECT NUMBER SEAL PROJECT STATUS AA26001731COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 2 3 4 5 6 E D C B A 1 2 3 4 5 6 E D C B A AS SHOWN BPHCMR 2020-06-09 DESIGN DEVELOPMENT □ WILLIAM J. GALLO FL AR0008440 □ BRIAN P. HERBERT FL AR0015474 WELLS LANDING BOYNTON BEACH, FL 33435 1' = 20'-0"0 10'20'40'A-1 ARCHITECTURAL SITE PLAN ARCHITECTURAL SITE PLAN AS-101 NOT TO SCALEA-3 KEY PLAN AS-101 1 NORTH PARCEL SOUTH PARCEL CL CL 1/16" = 1'-0"0 8'16'32'A-2 TURNING RADIUS DETAIL EAST MARTIN LUTHER KING JR. BLVD. NE 11th AVENUE 7 8 11 COMMERCIAL 4,294 SF 6 COMMERCIAL 4,236 SF 9 8 10 10 COVERED BIKES RACKS SEE DETAIL D4/AS-102 3 3 FH 5 5 6'-0" PRECAST CONCRETE WALL SEE DETAIL D1/AS-101 E.V.CHARGING STATIONS (5) FFE 16.5 FFE 16.5 15.04 14.75 14.33 14.19 BENCHS NOT TO SCALED1PRE-CAST SITE WALL DETAIL PRE CAST CONCRETE CAP PRE CAST CONCRETE CAP PRE CAST CONCRETE CAP PRE CAST CONCRETE CAP PRE CAST CONCRETE WALL COLUMN FOOTING COLUMN FOOTING BOLARD SEE DETAIL A1/AS-102 1 DART COMMENTS 09-10-2020 1 1 2 1 1 2 1 1 2 1 1- SITE PLAN SHALL MEET CPTD DESIGN STANDARDS 2- BUILDING TO BE FULLY SPRINKLERED NOTES: 3- ALL PORTION OF BLDG AREA WITH 450 OF F.D. ACCESS PER NFPA 1-18.2.3.2.2 STREET SPACE SHALL BE PROVIDED PER SECTION 18.2(a) THROUGH (c) OFF THE REQUIRED PROJECT IMPROVEMENTS AND SHALL BE DETAILED AS SUCH IN PERMIT PLAN 1 OUTDOOR SEATING AREA 846 SF OUTDOOR SEATING AREA 846 SF PUBLIC EVENT PLAZA 2,090 SF TRASH AREA2 2 2 2 2 2 2 DART COMMENTS 09-21-2020 NORTH 2 2 6'-0" PRECAST CONCRETE WALL SEE DETAIL D1/AS-101 6'-0" PRECAST CONCRETE WALL SEE DETAIL D1/AS-101 2 EAST MARTIN LUTHER KING JR. BLVD.WELLS LANDINGNORTHBUILDING2% SLOPE FFE 16.5 FFE 15.0 1/8" = 1'-0"0 4'8'16'D2 STREET - PLAZA SECTION A A A 1 3 DART COMMENTS 10-08-2020 3 3 3 3 1764 0-0" TOP SLAB 16-3" SECOND FLOOR 27-6" THIRD FLOOR 38-9" ROOF TOP 44-10" 0-0" TOP SLAB 16-3" SECOND FLOOR 27-6" THIRD FLOOR 44-10" 38-9" ROOF TOP 0-0" TOP SLAB 16-3" SECOND FLOOR 27-6" THIRD FLOOR 44-10" 0-0" TOP SLAB 16-3" SECOND FLOOR 27-6" THIRD FLOOR 44-10" 0-0" TOP SLAB 16-3" SECOND FLOOR 27-6" THIRD FLOOR 44-10" 38-9" ROOF TOP 38-9" ROOF TOP 38-9" ROOF TOP 74-2018 "IT IS A VIOLATION OF THE LAW FOR ANY PERSON, UNLESS ACTING UNDER THE DIRECTION OF A LICENSED ARCHITECT TO ALTER THESE PLANS AND SPECIFICATIONS." THIS DOCUMENT CONTAINS PROPERTY INFORMATION AND SHALL NOT BE USED OR REPRODUCED, OR ITS CONTENTS DISCLOSED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF GALLO HERBERT ARCHITECTSCONTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.SCALE DATE DRAWN BY CHECKED BY No.Description Date1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442PH. 954.794.0300 FX. 954.794.0301DRAWING TITLE DRAWING NUMBER OWNER PROJECT REVISIONS PROJECT NUMBER SEAL PROJECT STATUS AA26001731COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 2 3 4 5 6 E D C B A 1 2 3 4 5 6 E D C B A AS SHOWN BPHCMR 2020-06-09 DESIGN DEVELOPMENT □ WILLIAM J. GALLO FL AR0008440 □ BRIAN P. HERBERT FL AR0015474 WELLS LANDING BOYNTON BEACH, FL 33435 ELEVATION PLAN A-201 3/32" = 1'-0"0 8'16'24'A-1 SOUTH ELEVATION 3/32" = 1'-0"0 8'16'24'A-2 NORTH ELEVATION 3/32" = 1'-0"0 8'16'24'A-3 WEST ELEVATION 3/32" = 1'-0"0 8'16'24'A-4 EAST ELEVATION 3/32" = 1'-0"0 8'16'24'A-5 CENTRAL - PLAZA WEST ELEVATION 3/32" = 1'-0"0 8'16'24'A-6 CENTRAL - PLAZA EAST ELEVATION ROOF TOP EQUIPMENT ROOF TOP EQUIPMENT ROOF TOP EQUIPMENT ROOF TOP EQUIPMENT ROOF TOP EQUIPMENT ROOF TOP EQUIPMENT 1 DART COMMENTS 09-10-2020 1 1 1 1 11 1111 2 DART COMMENTS 09-21-2020 NORTH 2 3 DART COMMENTS 10-08-2020 3 3 3 3 1765 74-2018 "IT IS A VIOLATION OF THE LAW FOR ANY PERSON, UNLESS ACTING UNDER THE DIRECTION OF A LICENSED ARCHITECT TO ALTER THESE PLANS AND SPECIFICATIONS." THIS DOCUMENT CONTAINS PROPERTY INFORMATION AND SHALL NOT BE USED OR REPRODUCED, OR ITS CONTENTS DISCLOSED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF GALLO HERBERT ARCHITECTSCONTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.SCALE DATE DRAWN BY CHECKED BY No.Description Date1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442PH. 954.794.0300 FX. 954.794.0301DRAWING TITLE DRAWING NUMBER OWNER PROJECT REVISIONS PROJECT NUMBER SEAL PROJECT STATUS AA26001731COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 2 3 4 5 6 E D C B A 1 2 3 4 5 6 E D C B A AS SHOWN BPHCMR 2020-06-09 DESIGN DEVELOPMENT □ WILLIAM J. GALLO FL AR0008440 □ BRIAN P. HERBERT FL AR0015474 WELLS LANDING BOYNTON BEACH, FL 33435 COLOR ELEVATION PLANS A-202 NOT TO SCALEA-1 SOUTH ELEVATION NOT TO SCALEA-2 NORTH ELEVATION NOT TO SCALEA-3 WEST ELEVATION NOT TO SCALEA-4 EAST ELEVATION 1 DART COMMENTS 09-10-2020 1 01 02 03 04 05 06 07 A-5 MATERIAL & COLOR LEGENDS A-6 MATERIAL NOTES STANDING SEAM METAL ROOF. ON THE ROCKS (SW7671) BY SHERWIN WILLIAMS OR SIMILAR 1.ALL ROOF DRAINS: ALL INTERNAL AND DOWNSPOUTS OR RAIN WATER LEADERS WILL BE CONCEALED IN ARCHITECTURAL ELEMENTS. 2.ALL EQUIPMENT OTHER THAN FIRE APARATUS SHALL BE PAINTED TO MATCH BUILDING COLORS CONCRETE PANEL SCORED STUCCO & STUCCO: SPARE WHITE (SW6203) BY SHERWIN WILLIAMS OR SIMILAR PAINT ON STUCCO: TOPIARY TINT (SW6449) BY SHERWIN WILLIAMS OR SIMILAR PAINT ON STUCCO: BLUEBELL (SW6793) BY SHERWIN WILLIAMS OR SIMILAR PAINT ON STUCCO: PINEAPPLE CREAM (SW1668) BY SHERWIN WILLIAMS OR SIMILAR PAINT: GREEK VILLA (SW7551) BY SHERWIN WILLIAMS OR SIMILAR 2 DART COMMENTS 09-21-2020 NORTH 2 01 01 01 01 01 01 01 01 01 01 01 01 01 0202 02 02 02 02 0202 03 03 03 03 03 03 03 03 0303 03 0303 03 03 03 03 04040404 04 04 04 04 04 0404 04 0505 05 05 0505 05 05 0606 06 06 0606 06 07 0707 07 07 07 07 07 07 07 0707 2 2 2 03 03 1766 74-2018 "IT IS A VIOLATION OF THE LAW FOR ANY PERSON, UNLESS ACTING UNDER THE DIRECTION OF A LICENSED ARCHITECT TO ALTER THESE PLANS AND SPECIFICATIONS." THIS DOCUMENT CONTAINS PROPERTY INFORMATION AND SHALL NOT BE USED OR REPRODUCED, OR ITS CONTENTS DISCLOSED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF GALLO HERBERT ARCHITECTSCONTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.SCALE DATE DRAWN BY CHECKED BY No.Description Date1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442PH. 954.794.0300 FX. 954.794.0301DRAWING TITLE DRAWING NUMBER OWNER PROJECT REVISIONS PROJECT NUMBER SEAL PROJECT STATUS AA26001731COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 2 3 4 5 6 E D C B A 1 2 3 4 5 6 E D C B A AS SHOWN BPHCMR 2020-06-09 DESIGN DEVELOPMENT □ WILLIAM J. GALLO FL AR0008440 □ BRIAN P. HERBERT FL AR0015474 WELLS LANDING BOYNTON BEACH, FL 33435 FIRST AND SECOND FLOOR PLAN A-101 1/8" = 1'-0"0 4'8'16'A-1 FIRST FLOOR PLAN 1/8" = 1'-0"0 4'8'16'A-2 SECOND FLOOR PLAN 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "C" 2 BEDROOMs UNIT TYPE "A" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "B" OPEN COVERED PLAZA COMMERCIAL #1 COMMERCIAL #2 COMMERCIAL #3 COMMERCIAL #4 COMMERCIAL #5 COMMERCIAL #6 COMMERCIAL #7 COMMERCIAL #8 LOBBY COMMON TRASH ROOM 1 BEDROOM UNIT TYPE "C" 2 BEDROOMs UNIT TYPE "A" 2 DART COMMENTS 09-21-2020 NORTH 2 333 3 3 3 3 DART COMMENTS 10-08-2020 1767 74-2018 "IT IS A VIOLATION OF THE LAW FOR ANY PERSON, UNLESS ACTING UNDER THE DIRECTION OF A LICENSED ARCHITECT TO ALTER THESE PLANS AND SPECIFICATIONS." THIS DOCUMENT CONTAINS PROPERTY INFORMATION AND SHALL NOT BE USED OR REPRODUCED, OR ITS CONTENTS DISCLOSED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF GALLO HERBERT ARCHITECTSCONTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.SCALE DATE DRAWN BY CHECKED BY No.Description Date1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442PH. 954.794.0300 FX. 954.794.0301DRAWING TITLE DRAWING NUMBER OWNER PROJECT REVISIONS PROJECT NUMBER SEAL PROJECT STATUS AA26001731COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 2 3 4 5 6 E D C B A 1 2 3 4 5 6 E D C B A AS SHOWN BPHCMR 2020-06-09 DESIGN DEVELOPMENT □ WILLIAM J. GALLO FL AR0008440 □ BRIAN P. HERBERT FL AR0015474 WELLS LANDING BOYNTON BEACH, FL 33435 THIRD FLOOR PLAN A-102 1/8" = 1'-0"0 4'8'16'A-1 THIRD FLOOR PLAN 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "A" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "B" 1 BEDROOM UNIT TYPE "C" 2 BEDROOMs UNIT TYPE "A" 1 BEDROOM UNIT TYPE "C" 2 BEDROOMs UNIT TYPE "A" 2 DART COMMENTS 09-21-2020 NORTH 2 1768 EAST MARTIN LUTHER KING JR. BLVD. NE 9th AVENUE NE 11th AVENUE 14 13 ZONE DISTRICT: C-2 Gross Land: 55,183 (s.f.) Net Land: 1.27 acres Water Bodies: 0 LANDSCAPE LEGEND - COMMERCIAL (NORTH) REQ.PROV. TOTAL NUMBER OF TREES (ALL PALMS IN 3:1 RATIO) 292 Note: All pervious areas must be landscaped with lawn, groundcover, and/or shrubbery. STREET TREES (South - East MLK Blvd.): 300 l.f. (1 tree / 20 l.f.)15 TOTAL NUMBER OF SHRUBS, GROUNDCOVERS 60 1,363 63 15 PERIMETER BUFFER Requirements: North (Single Family) (1) 14' ht. tree for every 20 l.f. (1) 36" ht. shrub for every 3 l.f. PERIMETER BUFFER Requirements: West (Single Family) (1) 14' ht. tree for every 20 l.f. (1) 36" ht. shrub for every 3 l.f. PERIMETER BUFFER Requirements: East (Single Family) (1) 14' ht. tree for every 20 l.f. (1) 36" ht. shrub for every 3 l.f. 15 98 (295 L.F.) 15 (295 L.F.) 15 96 (287 L.F.) 15 (287 L.F.) * IRRIGATION SHALL BE PROVIDED AT TIME OF PERMIT * ALL PARKING ISLANDS SHALL BE LANDSCAPED WITH GROUNDCOVER MATERIAL 103 117 15 98 (295 L.F.) 15 (295 L.F.) 133 155% OF SHRUBS SHALL BE BUTTERFLY-ATTRACTIVE 219 DESCRIPTIONQUAN.SYMBOL PROPOSED MATERIAL SHRUBS AND GROUNDCOVERS DESCRIPTIONQUAN.SYMBOL PROPOSED MATERIAL TREES LANDSCAPE LIST - NORTH PARCEL ST. AUGUSTINE GRASS Stenotaphrum secundatum 'Floratam'SOLID EVEN SODLAWNAs Required 12 14' HT. X 6' SPR. 4" DBH. F.G. 10 31 3 F.G., "CHARACTER" SPECIMENGUMBO LIMBO *Bursera simaruba 14' HT. X 6' SPR. 4" DBH. 14' HT. X 6' SPR. 4" DBH.*Coccoloba diversiflora PIGEON PLUM F.G. Tabebuia heterophylla PINK TRUMPET TREE 10' HT. X 5 SPR., 2" DBH. F.G. 27CV 172DE 635FM 347IT 154JV 167MC 435PM Codieaum variegatum 'Mammey' RED - YELLOW CROTON 3 GAL. 18" HT. X 18" SPR. / 18" O.C. 3 GAL. 18" HT. X 18" SPR. / 18" O.C. Duranta erecta 'Gold Mound' GOLD MOUND DURANTA Ficus microcarpa 'Green Island' GREEN ISLAND FICUS 3 GAL. 15" HT. X 15" SPR. / 18" O.C. DWARF IXORA Ixora taiwanese 'Dwarf'18" HT. X 18" SPR. / 18" O.C. 3 GAL. * DENOTES NATIVE SPECIES 24" HT. X 24" SPR. / 24" O.C.Jasmine volubile WAX JASMINE 3 GAL. 3 GAL. 24" HT. X 24" SPR. / 30" O.C. *Muhlenbergia capillaris PINK MUHLY GRASS 7 GAL. 36" HT. X 24" SPR. / 24" O.C. Podocarpus macrophyllus PODOCARPUS [BUTTERFLY ATTRACTIVE] LIVE OAK "HIGH RISE" *Quercus virginiana 'High Rise' 6 5 F.G., TOPIARY 12'-14' O.A. HT.Elaeocarpus decipiens JAPANESE BLUEBERRY 32AC 15HP Asclepias curassavica MILKWEED 3 GAL. 24" HT. X 24" SPR. / 24" O.C. [BUTTERFLY ATTRACTIVE] [BUTTERFLY ATTRACTIVE] 24" HT. X 24" SPR. / 24" O.C.Hamelia patens 'compact' DWARF FIREBUSH 3 GAL. Ptychosperma elegans 'single'20' O.A. HT., SINGLE F.G.SINGLE ALEXANDER PALMS 14CG2 *Clusia guttifera SMALL LEAF CLUSIA 7 GAL. 36" HT. X 24" SPR. / 24" O.C. NORTHSHEET INDEX: L-1 INDEX L-2 LANDSCAPE PLAN L-3 LANDSCAPE DETAILS Scale: 1" = 40'-0" KEY PLAN Drawing: Index Date: 06/17/2020 Scale: See Left Drawn by: LDC Sheet No.: L-1 Cad Id.: 2020-021WELLS LANDING - NORTHBOYNTON BEACH, FLINDEX09.24.20201) DART Comments / Site Plan LDC Seal: Lic. # LA0000889 Member: A.S.L.A.Project:Revisions:By:Date:307 south 21st avenue hollywood, floridaphone: 954.923.9681 facsimile: 954.923.9689www.witkindesign.com©2020 WITKIN HULTS + PARTNERS THE DESIGN AND DRAWINGS HEREIN ARE THE INTELLECTUAL PROPERTY OF THIS LANDSCAPE ARCHITECT AND ARE PROTECTED UNDER THE COPYRIGHT PROTECTION ACTL-2 SEE SOUTH PARCEL LANDSCAPE PLANS FOR LANDSCAPE IN THIS AREA IRRIGATION NOTE: 100% IRRIGATION COVERAGE WILL BE PROVIDED AT TIME OF PERMITTING SABAL PALMS (IF APPLICABLE) ARE TO BE INSTALLED WITH FRONDS CUT AT 10-2, NOT HURRICANE CUT ALL PALMS OVER 12' C.T. SHALL HAVE SQUARE ROOTBALLS AND 4"x4" BRACES ALL PALMS OVER 12' C.T. SHALL HAVE SQUARE ROOTBALLS AND 4"x4" BRACES ALL TREES AND PALMS SHALL BE FLORIDA GRADE 1 AT TIME OF PLANTING. ANY PRUNING SHALL BE DETERMINED BY THE LANDSCAPE ARCHITECT AND/OR AN ARBORIST FIRE DEPARTMENT ACCESS ROADS SHALL HAVE AN UNOBSTRUCTED VERTICAL CLEARANCE OF NOT LESS THAN 14' NFPA IF APPLICABLE, SAFETY CAPS SHALL BE INSTALLED ON ALL #5 REBAR USED FOR TREE BRACING 1 1 1 1769 EAST MARTIN LUTHER KING JR. BLVD.20'-0" O.C.,TYP.LAWN NE 11th AVENUE LAWNLAWNDOUBLE ROW DOUBLE ROW DOUBLE ROW DOUBLE ROW DOUBLE ROW DOUBLE ROW COMMERCIAL COMMERCIAL 13 LAWNLAWNDOUBLE ROW DOUBLE ROW LAWN2'-0" PARKING OVERHANG, TYP. 20'-0" O.C., TYP.20'-0" O.C.,TYP.2'-0" PARKING OVERHANG, TYP.20'-0" O.C.,TYP.LAWN FM 53 IT 32 CV 3 FM 55 FM 53 IT 75 CV 3 MC 10 HP 15 FM 55 CG2 14 FM 50 IT 50 CV 3 MC 10 FM 30 IT 8 CV 3 MC 5 IT 62 CV 3 MC 12 FM 72 FM 40 IT 60 CV 3 MC 20 FM 50 IT 20 CV 3 MC 7 20'-0" O.C., TYP. DE 27 FM 25 EXISTING TREE TO REMAIN, TYP. (SEE NORTH PARCEL DISPOSITION PLANS FOR DETAILS)15'-0"15'-0"15'-0"15'-0" SIGHT-TRIANGLE, TYP. (ANY LANDSCAPE WITHIN SHALL BE MAINTAINED AT 18" HT. MAX.)15'-0"15'-0"15'-0"15'-0" MC 8 IT 40 PM 24 SEE "LARGE TREE PLANTING DETAIL" ON SHEET L-3 FOR BRACING DETAILS LAWN FM 67 CV 3 DE 80 MC 20 JV 62 PM 252 FM 60 CV 3 DE 65 MC 15 JV 92 PM 159 DOUBLE ROWDOUBLE ROW FM 25 MC 60 5 BEDS 5 BEDS AC 32 SEE "LARGE TREE PLANTING LAWN NORTH Scale: 1" = 20'-0" LANDSCAPE PLAN Drawing: Landscape Plan Date: 06/17/2020 Scale: See Left Drawn by: LDC Sheet No.: L-2 Cad Id.: 2020-021WELLS LANDING - NORTHBOYNTON BEACH, FLLANDSCAPE PLANSeal: Lic. # LA0000889 Member: A.S.L.A.Project:Revisions:By:Date:307 south 21st avenue hollywood, floridaphone: 954.923.9681 facsimile: 954.923.9689www.witkindesign.com©2020 WITKIN HULTS + PARTNERS THE DESIGN AND DRAWINGS HEREIN ARE THE INTELLECTUAL PROPERTY OF THIS LANDSCAPE ARCHITECT AND ARE PROTECTED UNDER THE COPYRIGHT PROTECTION ACT SEE SOUTH PARCEL LANDSCAPE PLANS 09.24.20201) DART Comments / Site Plan LDC 1 1770 Know what'sR1771 74-2018No.DescriptionDateAA26001731123456EDCBA123456EDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENTƑ WILLIAM J. GALLO FL AR0008440Ƒ BRIAN P. HERBERT FL AR0015474MARTIN LUTHERKINGCOMMUNITYNORTHBOYNTON BEACH, FL 33435PRIOR TO SUBMITTING THE BID, THE CONTRACTOR SHALL FIELD VERIFY ALL EXISTING CONDITIONS AND INFORM THE ARCHITECT ANDTHE ENGINEER OF ANY DISCREPANCY BETWEEN THESE DOCUMENTS AND THE EXISTING CONDITIONS AND SHALL INCLUDE IN THE BID TOCORRECT THE SAME AS DIRECTED. THE ENGINEERS ARE NOT RESPONSIBLE FOR ANY ADDITIONAL COSTS RESULTING FROM VERIFIABLEEXISTING CONDITIONS DISCOVERED AFTER CONTRACT HAS BEEN AWARDED. NO CHANGES SHALL BE MADE TO THESE PLANS WITHOUTPRIOR APPROVAL FROM THE ENGINEER OF RECORD. ALL CHANGES SHALL BE SUBMITTED FOR REVIEW PRIOR TO INSTALLATION. NOT FOR BID UNTIL PERMIT HAS BEEN ISSUED.3601 NW 2ND AVEBOCA RATON, FL 33431CERTIFICATION OFAUTHORIZATIONNO. 31989elec dept.TEL:954-644-9612mech dept.TEL:561-716-7120PM:SK1DART COMMENTS2020-09-09SITE PHOTOMETRICSPLANNORTHEPH-101N1' = 20'-0"010'20'40'Luminaire ScheduleSymbolQtyLabelArrangementLLFDescription4WSINGLE0.900Cree Lighting OSQ-A-XX-4ME-B-30K-UL-XX / OSQ-BLSMF / Wall Mount10SASINGLE0.900Cree Lighting OSQ-A-XX-4ME-B-30K-UL-XX / OSQ-BLSMFCalculation SummaryLabelCalcTypeUnitsAvgMaxMinAvg/MinMax/MinParking LotIlluminanceFc2.555.01.02.555.00SpillIlluminanceFc0.040.30.0N.A.N.A.1772 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 334351' = 20'-0"010' 20'40'ARCHITECTURALSITE PLANSOUTH PARCELAS-101NE 9th AVENUEENENOT TO SCALESOUTH WESTUTESWWBUILDINGBINNNLOADINGTRASH CHUTEAS-101 1SOUTH PARCELSSSOUTH EASTSOH ESSBUILDINGILDGA-101 1A-103 1LOADINGTRASH CHUTE6910393668810TRASHASASROOMMMMOMOMOOMRMOMMROOMOMMROOROOOOOOOOMROOMROOMTRASHHHSHSHSHHHSSHSHSHSSSSSSSROOMROOOROOROOOOASINGLEAFITNEESS710710998888810COMMONCCCCCCCCCCCCCCCCCCCCCCCCCNNNNNNNNNNNOO1091- SITE PLAN SHALL MEET CPTDDESIGN STANDARDS2- BUILDING TO BE FULLY SPRINKLERED3- DEVELOPER TO EXPLORE CROSSACCES EASEMENT W/ CVS SITENOTES:Note # 3FHFHFHFH1/16" = 1'-0"0 8' 16' 32'E.V..VCHARGINGCHGINSTATIONS (5)TATNS BENCHSNCNOT TO SCALE11116'-0" PRECAST'-0RECTCONCRETE WALLCOCRWTECAS6'-0" PRE6'PRTSALLTEWACONCRETCCE WLS-101A3/ASEE DETAIL ADEAL AS-ASCLCCCLCCPRE CASTCONCRETE CAPPRE CASTCONCRETECAPPRE CASTCONCRETE CAPPRE CASTCONCRETEWALLCOLUMNFOOTINGCOLUMNFOOTING15.0414.7514.3314.19114.12FFE 16.5FFE 16.5FFE 16.5E 16.5FFEFFE 16.50ECHARGINGCRGGGGSTATIONSSIO1BOLARDOOOSEE DETAIL A1/AS-102SEE DETAIL A1/AS 102SEE DETAIL A1/AS 102BOLARDSEE DETAIL A1/AS-10210DDCOVEREDDDDDKKSBIKES RACKKK02AAS-10SEE DETAIL D4/AAA2AACOVEREDOEDBIKES RACKSBIKRASEE DETAIL D4/AS-102E DAIL/A024- ALL PORTION OF BLDG AREA WITH 450OF F.D. ACCESS PER NFPA 1-18.2.3.2.2LESS THAN 150'-0"IRRIGATION TO BEIRRIGATION TO BEPROVIDED TO PLANTERSIRRIGATION TO BEPROVIDED TO PLANTERSSTREET SPACE SHALL BE PROVIDED PER SECTION 18.2(a) THROUGH (c)OFF THE REQUIRED PROJECT IMPROVEMENTS AND SHALL BE DETAILEDAS SUCH IN PERMIT PLAN101000SHADED SEATING548 S.F.LINEAR PLAZALNEAARPLAAZAAAAZLAPRAENLAZAALPAREANLIAAZLAPRAENLAZAALPAREANLI2,021 S.F.,01,2101022 021 S F20221SF21022SFSF S.FSF S.F.F02,2,2,02021 S1 S.F.FOPEN PLAY AREA3,500 S.F.MOUNTABLE CURBPUBLIC PLAZA443 S.F.1DART COMMENTS 09-10-20202DART COMMENTS 09-21-202032322222220'-0" FIRE LINE SOUTH2FFFFFFFFFFFFFFFFFFFF222223NEIGHBORHOOD COMMERCIAL (1)IGORODOMRCL (1OONEIGHBORHHOOD COMMERCIAL (2)NGHBHHOD CMMCIA2)RRRESIDENTIALIDIADUPLEX R-2DUX 3DART COMMENTS 10-08-202033333331773 11-3"SECOND FLOOR22-6"THIRD FLOOR51-1"45-4"ROOF TOP33-11"FOURTH FLOOR0'-00"TOP SLAB11-3"SECOND FLOOR22-6"THIRD FLOOR51-1"45-4"ROOF TOP33-11"FOURTH FLOOR0'-00"TOP SLAB11-3"SECOND FLOOR22-6"THIRD FLOOR51-1"45-4"ROOF TOP33-11"FOURTH FLOOR0'-00"TOP SLAB11-3"SECOND FLOOR22-6"THIRD FLOOR51-1"45-4"ROOF TOP33-11"FOURTH FLOOR0'-00"TOP SLAB74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435ELEVATION PLANSOUTH WEST BLDG.A-2033/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"08' 16'24'3/32" = 1'-0"08'16'24'ROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENT2DART COMMENTS 09-21-2020SOUTH2221774 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435COLOR ELEVATIONPLANSSOUTH WEST BLDG.A-2041DART COMMENTS 09-10-202011. ALL ROOF DRAINS: ALL INTERNAL AND DOWNSPOUTS ORRAIN WATER LEADERS WILL BE CONCEALED INARCHITECTURAL ELEMENTS.2. ALL EQUIPMENT OTHER THAN FIRE APARATUS SHALL BEPAINTED TO MATCH BUILDING COLORS3/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"08' 16'24'3/32" = 1'-0"08'16'24'2DART COMMENTS 09-21-2020SOUTH201020304050607STANDING SEAM METAL ROOF. ON THE ROCKS(SW7671) BY SHERWIN WILLIAMS OR SIMILARCONCRETE PANELSCORED STUCCO & STUCCO: SPARE WHITE(SW6203) BY SHERWIN WILLIAMS OR SIMILARPAINT ON STUCCO: TOPIARY TINT(SW6449) BY SHERWIN WILLIAMS OR SIMILARPAINT ON STUCCO: BLUEBELL(SW6793) BY SHERWIN WILLIAMS OR SIMILARPAINT ON STUCCO: PINEAPPLE CREAM(SW1668) BY SHERWIN WILLIAMS OR SIMILARPAINT: GREEK VILLA(SW7551) BY SHERWIN WILLIAMS OR SIMILAR222010101010101010101010101010101010101010101010101010102030303030303030303030303030303030303030303030303030303030303030404040404040404040405050505050505050505050506060606060606060707070707070707071775 12-6"SECOND FLOOR23-9"THIRD FLOOR51-1"46-7"ROOF TOP35-2"FOURTH FLOOR1'-3"TOP SLAB12-6"SECOND FLOOR23-9"THIRD FLOOR51-1"46-7"ROOF TOP35-2"FOURTH FLOOR1'-3"TOP SLAB12-6"SECOND FLOOR23-9"THIRD FLOOR51-1"46-7"ROOF TOP35-2"FOURTH FLOOR1'-3"TOP SLAB12-6"SECOND FLOOR23-9"THIRD FLOOR51-1"46-7"ROOF TOP35-2"FOURTH FLOOR1'-3"TOP SLAB74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435ELEVATION PLANSOUTH EAST BLDG.A-2013/32" = 1'-0"08'16'24'3/32" = 1'-0"08' 16'24'3/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"0 8' 16' 24'ROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENTROOF TOP EQUIPMENT2DART COMMENTS 09-21-2020SOUTH21776 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435COLOR ELEVATIONPLANSSOUTH EAST BLDG.A-2021DART COMMENTS 09-10-202011. ALL ROOF DRAINS: ALL INTERNAL AND DOWNSPOUTS ORRAIN WATER LEADERS WILL BE CONCEALED INARCHITECTURAL ELEMENTS.2. ALL EQUIPMENT OTHER THAN FIRE APARATUS SHALL BEPAINTED TO MATCH BUILDING COLORSNOT TO SCALENOT TO SCALENOT TO SCALENOT TO SCALE2DART COMMENTS 09-21-2020SOUTH2010304050607STANDING SEAM METAL ROOF. ON THE ROCKS(SW7671) BY SHERWIN WILLIAMS OR SIMILARSCORED STUCCO & STUCCO: SPARE WHITE(SW6203) BY SHERWIN WILLIAMS OR SIMILARPAINT ON STUCCO: TOPIARY TINT(SW6449) BY SHERWIN WILLIAMS OR SIMILARPAINT ON STUCCO: BLUEBELL(SW6793) BY SHERWIN WILLIAMS OR SIMILARPAINT ON STUCCO: PINEAPPLE CREAM(SW1668) BY SHERWIN WILLIAMS OR SIMILARPAINT: GREEK VILLA(SW7551) BY SHERWIN WILLIAMS OR SIMILAR22201010101010101010101010101010101010101010101010101010101010101030303030303030303030303030303030303030303030303030303030303040404040404040404040404050505050505050505050506060606060606060606060607070707070707070707070707070707071777 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435FIRST AND SECONDFLOOR PLANSOUTH EAST BLDG.A-1013/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"08' 16'24'2 BEDROOMS UNIT2BTYPE "B"2 BEDROOMS UNIT2TYPE "C"2 BEDROOMS UNIT222TYPE "C"1 BEDROOM UNITTYPE "D"2 BEDROOMS UNITTTTYPE "C"2 BEDROOMS UNITTTTTTYPE "C"COMMONNNNTRASHROOM2 BEDROOMS UNITSUNITTYPE "B"2 BEDROOMS UNIT2 BEDTYPE "B"2 BEDROOMS UNITSUNITTYPE "B"2 BEDROOMS UNIT2BEDTYPE "B"2 BEDROOMS UNIT22TYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTTTYPE "D"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNIT2BTYPE "B"2 BEDROOMS UNIT2TYPE "C"2 BEDROOMS UNIT22TYPE "C"1 BEDROOM UNITTYPE "D"2 BEDROOMS UNITTTYPE "C"2 BEDROOMS UNITTTTYPE "C"2 BEDROOMS UNITSUNITTYPE "B"2 BEDROOMS UNIT2 BEDTYPE "B"2 BEDROOMS UNITSUNITTYPE "B"2 BEDROOMS UNIT2BEDTYPE "B"2 BEDROOMS UNIT22TYPE "B"2 BEDROOMS UNITNTYPE "B"2 BEDROOMS UNITTTTTYPE "D"2 BEDROOMS UNITNTYPE "B"2 BEDROOMS UNITBBTYPE "B"2 BEDROOMS UNITTTTTTTYPE "E"2DART COMMENTS 09-21-2020SOUTH2PORCHPORCHPORCHPORCHPORCH222221778 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435THIRD & FOURTHFLOOR PLANSOUTH EAST BLDG.A-1023/32" = 1'-0"0 8' 16' 24'3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "A"2 BEDROOMS UNITTYPE "C"3/32" = 1'-0"08' 16'24'2 BEDROOMS UNITTYPE "B"1 BEDROOM UNITTYPE "D"2 BEDROOMS UNITTYPE "C"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "E"3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "A"2 BEDROOMS UNITTYPE "C"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "C"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "E"3 BEDROOMS UNITTYPE "A"2 BEDROOMS UNITTYPE "C"2 BEDROOMS UNITTYPE "E"2DART COMMENTS 09-21-2020SOUTH21779 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435FIRST & SECONDFLOOR PLANSOUTH WEST BLDG.A-1033/32" = 1'-0"0 8' 16' 24'3/32" = 1'-0"08' 16'24'2 BEDROOMS UNITTYPE "C"2 BEDROOMS UNITTYPE "C"COMMONTRASHROOMCOMMON1 BEDROOM UNITTYPE "F"2 BEDROOMS UNITTYPE "C"2 BEDROOMS UNITTYPE "C"3 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "D"3 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "D"3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"3 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "D"2DART COMMENTS 09-21-2020SOUTH2221780 74-2018NTRACTOR(S) SHALL VERIFY EXISTING CONDITIONS AND CORRELATE DIMENSIONS PRIOR TO PROVIDING THE WORK DETAILED IN THESE DRAWINGS, AND SHALL PROMPTLY NOTIFY THE DESIGNER OF ANY DISCREPANCIES.No.Description Date 1311 W NEWPORT CENTER DRIVE DEERFIELD BEACH, FLORIDA 33442 PH. 954.794.0300 FX. 954.794.0301AA26001731 COPYRIGHT 2018 GALLO HERBERTARCHITECTS1 23456EDCBAEDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLO FL AR0008440□ BRIAN P. HERBERT FL AR0015474WELLS LANDINGBOYNTON BEACH, FL 33435THIRD & FOURTHFLOOR PLANSOUTH WEST BLDG.A-1043/32" = 1'-0"0 8' 16' 24'3 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "D"3 BEDROOMS UNITTYPE "B"2 BEDROOMS UNITTYPE "D"2 BEDROOMS UNITTYPE "D"3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "A"3 BEDROOMS UNITTYPE "A"2DART COMMENTS 09-21-2020SOUTH221781 EAST MARTIN LUTHER KING JR. BLVD.NE 9th AVENUENE 11th AVENUE1413ZONE DISTRICT: C-2Gross Land: 117,428 (s.f.) Net Land: 2.70 acres Water Bodies: 0LANDSCAPE LEGEND - RESIDENTIAL (SOUTH)REQ.PROV.TOTAL NUMBER OF TREES (SMALL PALMS IN 3:1 RATIO)180 Note: All pervious areas must be landscaped with lawn, groundcover, and/or shrubbery.21TOTAL NUMBER OF SHRUBS, GROUNDCOVERS752,32310621PERIMETER BUFFER Requirements: West (Commercial)(1) 14' ht. tree for every 20 l.f.(1) 36" ht. shrub for every 3 l.f.PERIMETER BUFFER Requirements: East (Commercial)(1) 14' ht. tree for every 20 l.f.(1) 36" ht. shrub for every 3 l.f.1278(235 L.F.)12(235 L.F.)* IRRIGATION SHALL BE PROVIDED AT TIME OF PERMIT* ALL PARKING ISLANDS SHALL BE LANDSCAPED WITH GROUNDCOVER MATERIAL10015102(305 L.F.)15(305 L.F.)108STREET TREES (North - East MLK Blvd.): 418 l.f. (1 tree / 20 l.f.)2727STREET TREES (South - NE 9th Ave.): 542 l.f. (1 tree / 20 l.f.)95% OF SHRUBS SHALL BE BUTTERFLY-ATTRACTIVE485DESCRIPTIONQUAN.SYMBOLPROPOSED MATERIALSHRUBS AND GROUNDCOVERSDESCRIPTIONQUAN.SYMBOLPROPOSED MATERIALTREESLANDSCAPE LIST - SOUTH PARCELST. AUGUSTINE GRASSStenotaphrum secundatum 'Floratam'SOLID EVEN SODLAWNAsRequired3014' HT. X 6' SPR. 4" DBH.F.G. 11194F.G., "CHARACTER" SPECIMENGUMBO LIMBO*Bursera simaruba14' HT. X 6' SPR. 4" DBH.14' HT. X 6' SPR. 4" DBH.*Coccoloba diversifloraPIGEON PLUMF.G. Tabebuia heterophylla PINK TRUMPET TREE 10' HT. X 5 SPR., 2" DBH.F.G.20Aechmea blanchettiana36" HT. X 24" SPR. ABBRIGHT YELLOW BROMELIAD10" POT 9CV73DE1200FM210IT72JV153MC112PV155SVCodieaum variegatum 'Mammey' RED - YELLOW CROTON3 GAL.18" HT. X 18" SPR. / 18" O.C.3 GAL.18" HT. X 18" SPR. / 18" O.C. Duranta erecta 'Gold Mound'GOLD MOUND DURANTAFicus microcarpa 'Green Island'GREEN ISLAND FICUS3 GAL.15" HT. X 15" SPR. / 18" O.C. DWARF IXORAIxora taiwanese 'Dwarf'18" HT. X 18" SPR. / 18" O.C.3 GAL.* DENOTES NATIVE SPECIES24" HT. X 24" SPR. / 24" O.C.Jasmine volubileWAX JASMINE3 GAL.3 GAL.24" HT. X 24" SPR. / 30" O.C. *Muhlenbergia capillarisPINK MUHLY GRASSSchefflera arboricola 'Trinette'VARIEGATED SCHEFFLERA3 GAL.18" HT. X 18" SPR. / 18" O.C. 64113113610' HT. X 4' SPR. 2" DBH.*Conocarpus erectus 'sericeus'SILVER BUTTONWOODF.G. 8' HT. X 8' SPR., MULTI TRUNKLigustrum japonicumJAPANESE PRIVETF.G.F.G., MATCHED HTS.ROYAL PALM*Roystonea elata24' O.A. HT. MIN.10' HT. X 5' SPR. 2" DBH.F.G.2CA427CG174CG2207CI9HA455PM7 GAL.36" HT. X 24" SPR. / 24" O.C. Podocarpus macrophyllusPODOCARPUS173SA[BUTTERFLY ATTRACTIVE]7 GAL.3' O.A. HT.PURPLE CRINUM LILYCrinum augustum 'Queen Emma'*Clusia guttiferaSMALL LEAF CLUSIA3 GAL.24" HT. X 24" SPR. / 24" O.C. *Clusia guttiferaSMALL LEAF CLUSIA7 GAL.36" HT. X 24" SPR. / 24" O.C. *Chrysobalanus icaco 'Red Tip'RED TIP COCOPLUM3 GAL.18" HT. X 18" SPR. / 18" O.C. Hibiscus 'Anderson Crepe'ANDERSON CREPE HIBISCUS15 GAL.6' HT. O.A., STANDARD PITTOSPORUM VARIEGATAPittosporum tobira 'Variegata'3 GAL.18" HT. X 18" SPR. / 18" O.C. GREEN SCHEFFLERASchefflera arboricola24" HT. X 24" SPR. / 24" O.C.3 GAL.Ptychosperma elegans 'single'20' O.A. HT., SINGLEF.G.SINGLE ALEXANDER PALMS5LIVE OAK "HIGH RISE"*Quercus virginiana 'High Rise'*Eugenia foetidaSPANISH STOPPER12' HT. X 4' SPR., MULTI TRUNKF.G.Jacaranda mimosifoliaJACARANDA TREE14' HT. X 6' SPR. 4" DBH.F.G. Fillicium decipiens JAPANESE FERN TREE 47AC25HP404PLAsclepias curassavicaMILKWEED3 GAL.24" HT. X 24" SPR. / 24" O.C.[BUTTERFLY ATTRACTIVE][BUTTERFLY ATTRACTIVE]24" HT. X 24" SPR. / 24" O.C.Hamelia patens 'compact'DWARF FIREBUSH3 GAL.[BUTTERFLY ATTRACTIVE]DWARF PENTASPentas lanceolata "New Look White"1 GAL.12" HT. X 12" SPR. / 12" O.C. 2F.G., STAGGERED.DOUBLE MONTGOMERY PALMVeitchia montgomeryana 'double'20' O.A. HT. MIN., DOUBLENORTHSHEET INDEX:L-1 INDEXL-2 LANDSCAPE PLANL-3 LANDSCAPE DETAILSScale: 1" = 40'-0"KEY PLANDrawing: IndexDate: 06/17/2020Scale: See LeftDrawn by: LDCSheet No.:Cad Id.: 2020-021WELLS LANDING - SOUTH BOYNTON BEACH, FL INDEX 307 south 21st avenue hollywood, florida phone: 954.923.9681 facsimile: 954.923.9689 www.witkindesign.com©2020 WITKIN HULTS + PARTNERSTHE DESIGN AND DRAWINGS HEREIN ARE THEINTELLECTUAL PROPERTY OF THISLANDSCAPE ARCHITECT AND ARE PROTECTEDUNDER THE COPYRIGHT PROTECTION ACTL-2SEE NORTH PARCELLANDSCAPE PLANSFOR LANDSCAPE INTHIS AREAIRRIGATION NOTE: 100% IRRIGATIONCOVERAGE WILL BE PROVIDED ATTIME OF PERMITTINGSABAL PALMS (IF APPLICABLE) ARETO BE INSTALLED WITH FRONDSCUT AT 10-2, NOT HURRICANE CUTALL PALMS OVER 12' C.T. SHALLHAVE SQUARE ROOTBALLS AND4"x4" BRACESALL PALMS OVER 12' C.T. SHALLHAVE SQUARE ROOTBALLS AND4"x4" BRACESALL TREES AND PALMS SHALL BEFLORIDA GRADE 1 AT TIME OFPLANTING. ANY PRUNING SHALL BEDETERMINED BY THE LANDSCAPEARCHITECT AND/OR AN ARBORISTFIRE DEPARTMENT ACCESS ROADSSHALL HAVE AN UNOBSTRUCTEDVERTICAL CLEARANCE OF NOTLESS THAN 14' NFPAIF APPLICABLE, SAFETY CAPS SHALLBE INSTALLED ON ALL #5 REBAR USEDFOR TREE BRACING11  1782 EAST MARTIN LUTHER KING JR. BLVD.NE 9th AVENUELAWNLAWNLAWN 4-STORYBUILDINGLAWN 20'-0" O.C.,TYP.5 BEDS14LAWN LAWN LAWN LAWNLAWNLAWNLAWN20'-0" O.C., TYP.2'-0" PARKINGOVERHANG, TYP.2'-0" PARKINGOVERHANG, TYP.2'-0" PARKINGOVERHANG, TYP.FM25CG18HA2JV15PM136DE43DE30JV15HA2CG18FM15CG12PV12PV12FM50SV25CA1MC8CV3IT20FM47FM47IT20MC8CV3AC22PL90PL37PL75PM60PM93PL75SA82FM60IT55MC10CV3IT20FM45SA45AC25PL110PL17HP20CI40SV100CI68EXISTING TREE TO REMAIN, TYP.(SEE SOUTH PARCEL DISPOSITIONPLANS FOR DETAILS)20'-0" O.C.,TYP.15'-0"15'-0"15'-0"15'-0"SIGHT-TRIANGLE, TYP. (ANYLANDSCAPE WITHIN SHALL BEMAINTAINED AT 18" HT. MAX.)15'-0"15'-0"15'-0"15'-0"SIGHT-TRIANGLE, TYP. (ANYLANDSCAPE WITHIN SHALL BEMAINTAINED AT 18" HT. MAX.)LANDSCAPE WITHIN SHALL BEMAINTAINED AT 18" HT. MAX.)2'-0" PARKINGOVERHANG, TYP.MC70FM25SV17AB2PM1662'-0" PARKINGOVERHANG, TYP.2'-0" PARKINGOVERHANG, TYP.2'-0" PARKINGOVERHANG, TYP.2'-0" PARKINGOVERHANG, TYP.20'-0" O.C.,TYP.SA20FM125HA3IT95SA26FLEXIPAVE,TYP.PASSIVERECREATIONAREALAWN20'-0"EMERGENCYFIRE ACCESS4-STORYBUILDING15 BEDS LAWNBENCH, TYP.LAWNBENCH, TYP.LAWN, TYP.FM75CG19FM25FM18CG7FM42PV12CG30CG210FM65FM25CG19CI22PV12CI52FM83CG30CG7FM6PV20FM12CI10CG12FM6CG24MC7AB2PV20FM6PV12CI5CG5FM6CG24MC7AB2FM6CG6CG21FM6AB2MC10FM6CG21FM6AB2MC10FM6FM12CI10CG6CG5FM81'-0"4'-0"4'-0"SEE "LARGE TREE PLANTINGDETAIL" ON SHEET L-3 FORBRACING DETAILSFM408 BEDSCG2164FM53FM85AB2JV15HA2FM38CG27PV4CG39JV7CA1LAWN MC23JV20AB4CG33HP5FM22FM13SV13FM5CG12PV4CG5FM6PV4CG27FM25AB2AB2FM25FM30NORTHScale: 1" = 20'-0"LANDSCAPE PLANDrawing: Landscape PlanDate: 06/17/2020Scale: See LeftDrawn by: LDCSheet No.:Cad Id.: 2020-021WELLS LANDING - SOUTH BOYNTON BEACH, FL LANDSCAPE PLAN 307 south 21st avenue hollywood, florida phone: 954.923.9681 facsimile: 954.923.9689 www.witkindesign.com©2020 WITKIN HULTS + PARTNERSTHE DESIGN AND DRAWINGS HEREIN ARE THEINTELLECTUAL PROPERTY OF THISLANDSCAPE ARCHITECT AND ARE PROTECTEDUNDER THE COPYRIGHT PROTECTION ACTSEE NORTH PARCEL LANDSCAPE PLANS 11783 74-2018No. Description DateAA26001731123456EDCBA123456EDCBAAS SHOWNBPHCMR2020-06-09DESIGN DEVELOPMENT□ WILLIAM J. GALLOFL AR0008440□ BRIAN P. HERBERTFL AR0015474MARTIN LUTHERKINGCOMMUNITYSOUTHBOYNTON BEACH, FL 33435PRIOR TO SUBMITTING THE BID, THE CONTRACTOR SHALL FIELD VERIFY ALL EXISTING CONDITIONS AND INFORM THE ARCHITECT ANDTHE ENGINEER OF ANY DISCREPANCY BETWEEN THESE DOCUMENTS AND THE EXISTING CONDITIONS AND SHALL INCLUDE IN THE BID TOCORRECT THE SAME AS DIRECTED. THE ENGINEERS ARE NOT RESPONSIBLE FOR ANY ADDITIONAL COSTS RESULTING FROM VERIFIABLEEXISTING CONDITIONS DISCOVERED AFTER CONTRACT HAS BEEN AWARDED. NO CHANGES SHALL BE MADE TO THESE PLANS WITHOUTPRIOR APPROVAL FROM THE ENGINEER OF RECORD. ALL CHANGES SHALL BE SUBMITTED FOR REVIEW PRIOR TO INSTALLATION. NOT FOR BID UNTIL PERMIT HAS BEEN ISSUED.3601 NW 2ND AVEBOCA RATON, FL 33431CERTIFICATION OFAUTHORIZATIONNO. 31989elec dept.TEL:954-644-9612mech dept.TEL:561-716-7120PM:SK1DART COMMENTS2020-09-09SITE PHOTOMETRICSPLANSOUTHEPH-101S1' = 30'-0"0 10' 20' 40'Luminaire ScheduleSymbolQtyLabelArrangementLLFDescription8WSINGLE0.900Cree Lighting OSQ-A-XX-4ME-B-30K-UL-XX / OSQ-BLSMF / Wall Mount5SBD1800.900Cree Lighting OSQ-A-NM-5ME-B-30K-UL-XX, 2@180°9SASINGLE0.900Cree Lighting OSQ-A-XX-4ME-B-30K-UL-XX / OSQ-BLSMFCalculation SummaryLabelCalcTypeUnitsAvgMaxMinAvg/MinMax/MinParking LotIlluminanceFc2.966.11.02.966.10SpillIlluminanceFc0.060.30.0N.A.N.A.1784 Know what'sR1785 1786 1787 1788 East Building Looking South from E. MLK Jr. Blvd East Building Looking South from MLK Jr. Blvd 1789 East Building Parking Lot and Lanscaping East Building Looking North to MLK Jr. Blvd 1790 East Building Kitchen 1791 Monument Sign Placement from NE 9th Avenue 1792 West Building Sidewalk Looking North East Building Looking North to MLK Jr. Blvd 1793 North Building from E. MLK Jr. Blvd 1794 West Building Looking South from E. MLK Jr. Blvd 1795 West Building from NE 9th Avenue 1796 West Building from South Parking Lot 1797 East Building Kitchen West Building Kitchen 1798 West Building Sidewalk between Dollar General > ~ .-· , ' , I 'I -. • ' ;;;.;.. '. 1799 West Building Sidewalk between Dollar General 1800 East Building Sidewalk West Building Looking North to MLK Jr. Blvd 1801 West Building Leasing Center 1802