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Agenda 06-10-251.Call to Order 2.Invocation 3.Pledge of Allegiance 4.Roll Call 5.Agenda Approval 6.Legal A.Legislative Update B.Policy Consideration on Public Comments - REVISED 06/06/2025 7.Informational Items and Disclosures by Board Members and CRA Staff: 8.Information Only A.Circuit Transit Inc. 4th Quarterly Report for Service Dated January 1, 2025 - March 31, 2025 B.Annual Report in Accordance with the Tax Increment Revenue Funding Agreement with BB1 Development LLC (aka Hyperion Group, LLC) ("BB1") for the Ocean One Project 9.Announcements and Awards Community Redevelopment Agency Board Meeting Tuesday, June 10, 2025 - 6:00 PM City Hall Chambers, 100 E. Ocean Avenue and Online Meeting 561-737-3256 AGENDA REVISED - 06/06/2025 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 A.Announcement for Rock the Plaza at One Boynton 10.Public Comments (Please note changes to the public comment section.) 11.Consent Agenda A.CRA Financial Report Period Ending May 31, 2025 B.Approval of the CRA Board Meeting Minutes for May 13, 2025 C.Approval of a One (1) Year Extension of Contract with Vincent and Sons Landscaping, Inc. for Lawn Maintenance of CRA Owned Properties 12.Pulled Consent Agenda Items 13.CRA Advisory Board A.Pending Assignments - Assignments from the CRA Board Assigned at the February 13, 2024 and the January 14, 2025 CRA Monthly Board Meetings B.Reports on Pending Assignments 14.Old Business A.Update on Recruitment of Executive Director Candidates by S. Renee Narloch & Associates B.Continued Discussion and Consideration of the July 2025 CRA Board Meeting Date C.Discussion and Consideration of a Request for Additional Tax Increment Revenue Funding for the Ocean One Project located at 114-222 N. Federal Highway D.Continued Discussion and Consideration of the Purchase of the Inn at Boynton located at 480 W. Boynton Beach Boulevard E.Discussion and Consideration of the First Amendment to the Purchase and Development Agreement with Maple Tree Investments, LLC for the USPS Project on the CRA-Owned Property Located at 401-411 E. Boynton Beach Boulevard F.Continued Discussion and Consideration of a Request for Funding for the City View Apartments located at the SW Corner of Federal Highway and SE 5th Avenue - REVISED 06/06/2025 G.Presentation Regarding the CRA Owned Property Located at 211 E. Ocean Avenue 15.New Business The public comment section of the meeting is for public comment on ALL items on the agenda or items that are not on the agenda. Each speaker will be given a total of five (5) 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. Any person may provide written comment(s) to the Board prior to the Board meeting. 2 A.Discussion and Consideration of Requirements per the Purchase and Development Agreement for the Cottage District Infill Housing Redevelopment Project B.Discussion and Consideration of the Purchase of the 13 Parcel Assemblage located at 444 W. Boynton Beach Boulevard C.Discussion and Consideration of Budget Funding Towards the Neighborhood Officer Program ("NOP"), Code Enforcement, and/or Beautification Efforts in the CRA 16.CRA Projects in Progress A.Heart of Boynton Shops Project Update B.CRA Economic & Business Development Grant Program Update C.Social Media & Print Marketing Update D.Social Media Outreach Program 2nd Quarter Report for FY 2024-2025 (January 2025 - March 2025) E.Rock the Marina Recap 17.Future Agenda Items A.Discussion and Consideration of Redevelopment at 217 N. Seacrest Boulevard (USPS Site) B.Discussion and Consideration of Approval of Infill Housing RFP C.Discussion and Consideration of Planning for 2026 Legislative Session D.Discussion and Consideration of Amending the 2016 Community Redevelopment Plan E.Discussion and Consideration of the Andrews House Located at 306 SE 1st Avenue 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. 3 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 LEGAL AGENDA ITEM 6.A SUBJECT: Legislative Update SUMMARY: H o u s e Bill 991 was filed February 24, 2025. A related Senate Bill, SB 1242, was filed on February 25, 2025. At the March 20, 2025 meeting, the Board directed the Acting Executive Director to move forward with engaging LLW to pursue lobbying efforts in concert with the City and the Florida Redevelopment Association. LLW acted as the City’s lobbyist during the remainder of the regularly-scheduled legislative session. The regularly-scheduled term of the legislative session ended May 2, 2025, with neither the House nor the Senate passing language amending the CRA Statutes. The legislature will reconvene June 6, 2025, but only to consider budget- and tax budget- related bills. Barring any unforeseen circumstances, it appears the proposed CRA legislation has been successfully defeated for this year. LLW will continue to monitor the session extension for CRA issues. At time of publication, no changes to this item have occurred since the May CRA Board meeting. FISCAL IMPACT: FY 2024-2025, General Fund - 01-51420-201 - $30,000 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on Board direction. 4 •Attachment I - Memorandum Regarding Public Comment •Attachment II - Public Comment Policy (REVISED 06/06/2025) COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 LEGAL AGENDA ITEM 6.B SUBJECT: Policy Consideration on Public Comments - REVISED 06/06/2025 SUMMARY: Legal has been asked to provide an overview of public comment requirements under Florida Law. A memorandum from legal can be found at Attachment I. In summary, Section 286.0114 of the Florida Statutes requires the BBCRA Board to provide members of the public a reasonable opportunity to comment before the Board takes official action on any proposition before it, subject to express exceptions. This opportunity need not occur at the same meeting at which the Board takes the official action, provided it occurs during the decision-making process and within a reasonable timeframe prior to the official action. The opportunity for public comment is to be liberally construed. The Board may adopt rules or policies governing the manner and timing of public comment, including guidelines on the amount of time allotted to each individual, procedures for group representatives, and designated times for public comment. Such policies are considered consistent with Florida Statutes (see Attachment II). FISCAL IMPACT: No Financial Impact CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on Board direction. ATTACHMENTS: Description 5 Attorneys at Law llw-law.com JACKSONVILLE 245 Riverside Ave. Suite 510 Jacksonville, Florida 32202 T: 904.353.6410 F: 904.353.7619 ST. PETERSBURG 100 Second Ave., South Suite 501-S St. Petersburg, Florida 33701 T: 727.245.0820 F: 727.290.4057 TALLAHASSEE 106 East College Avenue Suite 1500 Tallahassee, Florida 32301 T: 850.222.5702 F: 850.224.9242 TAMPA 301 West Platt St. Suite A364 Tampa, Florida 33606 T: 813.775.2331 WEST PALM BEACH 360 South Rosemary Ave. Suite 1100 West Palm Beach, FL 33401 T: 561.640.0820 F: 561.640.8202 See Things Differently® Reply To: West Palm Beach MEMORANDUM TO: Boynton Beach Community Redevelopment Agency Board Members FROM: Kathryn Rossmell, Zoe Weiser-Dalton DATE: May 28, 2025 SUBJECT: Public Comment This memorandum outlines Florida’s legal requirements concerning public comment opportunities at Boynton Beach Community Redevelopment Agency (the “CRA”) Board meetings. Summary: The CRA Board (the “Board”) must provide members of the public with a reasonable opportunity to be heard on during the decision-making process on propositions before the Board, before taking final action.1 However, the Board may adopt appropriate rules and procedures to regulate the manner in which public comment is received and is not required to take public comment on ministerial acts or in certain other specified circumstances. I. Opportunity for Public Comment Under Section 286.0114 of the Florida Statutes, the Board is required provide members of the public a reasonable opportunity to comment before the Board takes “official action” on any “proposition.” The terms “official action” and “proposition” are not def ined by statute, but at least one court has opined that in this context, the term “proposition” generally refers to a proposal that the Board take certain 1 Fla. Stat. § 286.0114(2). 6 May 28, 2025 Page 2 4933-5891-1047, v. 1 action, usually involving voting on a motion.2 The following are examples propositions that commonly appear before the Board for which the Board would generally be required to provide an opportunity for public comment: (1) Entering into a contract or agreement; (2) Adopting of a memorandum of understanding; (3) Funding a project, program, or third -party; (4) Engaging in budgetary decisions; or (5) Adopting policies or procedures. The Board must offer the opportunity for public comment in all settings where official action is taken, regardless of formality.3 Such opportunity should be provided during the decision-making process, prior to final action, and within a timeframe reasonably close to the final action.4 However, “the opportunity to be heard need not occur at the same meeting at which the board or commission takes official action on the proposition if the opportunity occurs at a meeting that is during the decisionmaking process and is within reasonable proximity in time before the meeting at which the board or commission takes the official action.”5 The statute requiring public comment is to be “liberally construed,” and when in doubt as to whether public comment is required, it is advisable to “err on the side of allowing the public to do so.”6 However, the statute does set forth some exceptions to the general requirements concerning public comment. For example, the Board is not required to provide an opportunity for public comment when acting in response to time-sensitive emergencies when allowing public comment would cause unreasonable delay, when performing ministerial actions, or in meetings that are exempt from the Sunshine Law.7 Examples of Board actions which do not require public comment include: (1) Adopting or amending meeting minutes; (2) Making ceremonial proclamations; (3) Responding on an emergency basis to hurricane-related concerns.8 2 See Jenner v. The School Bd. of Lee Cnty., Fla., 2023 WL 11983958, at *2 (Fla. 20th Cir. Ct. July 14, 2023) (Trial Order) (stating that according to Robert's Rules of Order, a proposition is another word for motion , which was defined as “formal proposals by members, that the assembly take a certain action”); Informal Op. Att’y Gen. Fla. (April 29, 2014). 3 The opportunity for public comment must be available in all settings, from informal workshops to regularly scheduled public meetings. See Informal Op. Att’y Gen. Fla. (April 29, 2014). 4 Fla. Stat. § 286.0114(2). 5 Fla. Stat. § 286.0114 (2). 6 Informal Op. Att’y Gen. Fla. (April 29, 2014). 7 Fla. Stat. § 286.0114(3). 8 Fla. Stat. § 286.0114(3); Jenner v. The School Bd. of Lee Cnty., Fla., 2023 WL 11983958, at *2 (Fla. 20th Cir. Ct. July 14, 2023) (Trial Order). 7 May 28, 2025 Page 3 4933-5891-1047, v. 1 II. Orderly Conduct and Decorum During Public Comment The Board is permitted to maintain orderly conduct and proper decorum during public meetings, even during times the Board is providing an opportunity for public comment.9 As such, the Board may adopt rules or policies to govern the manner and timing of public comment.10 If the Board does so and complies with those rules or policies, it will be deemed to be acting in compliance with the law .11 These rules or policies may: (1) Limit the amount of time an individual may speak; (2) Designate specific portions of a meeting for public comment; (3) Establish procedures for allowing representatives of groups or factions on a proposition to address the board, rather than all members of such groups or factions, at meetings in which a large number of individuals wish to be heard; and (4) Establish procedures or forms for an individual to use in order to inform the Board of their desire to be heard, their position on the proposition, or the designation of a representative to speak on their behalf.12 Conclusion The public’s right to comment is a critical part of transparent governance. To comply with Section 286.0114 of the Florida Statutes, the Board must ensure that the public is given meaningful and timely opportunities to participate in the decision-making process, consistent with the parameters set forth above. 9 Fla. Stat. § 286.0114(2). 10Fla. Stat. § 286.0114(4). 11 Fla. Stat. § 286.0114(5); See also Larson v. Palm Beach County, No. 502016CA001706 (Fla. 15th Cir. Ct. September 26, 2019), per curiam affirmed, 311 So. 3d 853 (Fla. 4th DCA 2021). 12 Fla. Stat. § 286.0114(4). 8 Boynton Beach Community Redevelopment Agency Public Comment Policy 4897-6662-0231, v. 1 For any items that the CRA is required to hear public comment, it shall be the policy of the Boynton Beach CRA that: 1) All public comments for all items shall be heard at the beginning of the meeting under an agenda item titled “Public Comments.” 2) The Board may vote, at any particular meeting, to allow public comment for a specified agenda item to occur at the time the item is presented to the Board. 3) Each speaker will be given a total of five (5) minutes to comment; however, the Board retains the right to increase or reduce the number of minutes assigned to each speaker prior to the start of public comment. 4) Each public speaker shall be given the same number of minutes unless it becomes necessary to terminate a speaker’s comments in order to maintain orderly conduct and proper decorum in the public meeting. 5) 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. 6) Prior to addressing the Board, speakers present at the meeting will go to the podium to make their comments and speakers participating virtually will unmute their device at the time requested. 7) Speakers will be asked to state their name address for the record. 8) Any person may provide written comment(s) to the Board prior to the Board meeting. 9) Nothing in this policy will interfere with the Board’s right to maintain orderly conduct and proper decorum in the public meeting, nor shall it confer a right to public comment on any items that are not otherwise required under the law to be the subject of public comment. Adopted this ____ day of ____________, 2025. 9 •Attachment I - CRA/Circuit Executed Contract •Attachment II - Exhibit A: Scope of Work •Attachment III - Amendment No. 1 •Attachment IV - 4th Quarterly Report COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 INFORMATION ONLY AGENDA ITEM 8.A SUBJECT: Circuit Transit Inc. 4th Quarterly Report for Service Dated January 1, 2025 - March 31, 2025 SUMMARY: On February 11, 2025, the CRA Board approved Amendment No. 1 with Circuit Transit Inc. for the CRA ride share program which provides all-electric on-demand transportation servic es (see Attachments I - III). The Scope of Work of the Agreement with Circuit Inc. is summarized below: on-demand ride share service with the exception of fixed routes for special events include the use of two GEM cars and two EV sedans provide service from 10 AM - 8 PM (Sunday-Thursday) and 10 AM - 10 PM (Friday and Saturday) report back to the Board quarterly once the contract begins Per the contract, Circuit is required to report back to the Board quarterly. This presentation will review the fourth quarter data for service between January 1, 2025 - March 31, 2025. A Circuit representative will be in an attendance to present the report (see Attachment IV). FISCAL IMPACT: FY 2024-2025 Budget, Project Fund, Line Item 02-58500-470, $400,000 for Circuit Contract CRA BOARD OPTIONS: No a ction is required at this time unless otherwise determined by the CRA Board. ATTACHMENTS: Description 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 4853-3349-4940, v. 6 EXHIBIT A: SCOPE OF WORK Section 1: Summary of Services Circuit shall develop, implement and manage a Micro-Transit “On Demand” service (the "Service”) within a geo-fenced coverage area described in Exhibit A-1. The Service will have the ability to be on demand and may include supplementary service for special events as specified in this Scope of Work. The Service will serve visitors, residents, and workers by providing a convenient, efficient mobility option to circulate primarily throughout the Boynton Beach CRA boundaries and provide transportation to Ocean Front Beach Park. The Service to the Beach shall be subject to CRA’s execution of an interlocal agreement with the City of Boynton Beach for the provision of services to Ocean Front Beach Park. The Service shall: A. Operate a 6-month on-demand pilot test in two zones (Zone 1 and Zone 2) covering approximately 1.6 square miles of coverage area as illustrated in Exhibit C (“Service Area”). Zone 1 is located within the boundaries of the CRA. Zone 2 provides service to Ocean Front Beach Park, which is located outside the boundaries of the CRA. B. Supplement any part of the service with a fixed route for special events and if deemed necessary through data and public needs. C. Demonstrate the ability to scale up and down the fleet of vehicles and deploy them to various locations based on monthly, weekly, daily, and hourly fluctuations in demand in order to achieve a desired level of service. D. Operate vehicles that meet the Federal Motor Vehicle Safety Standards and Regulations. E. Provide a safe and pleasing passenger experience with capable, qualified and courteous drivers. F. Feature a mobile application downloadable from both the Apple Store and Google Play Store which will have the ability to charge a fee for service via a secured credit card payment system. G. Provide a dedicated phone line so that users can call and request assistance. H. Service will be operational within 30 days of the effective date of this Agreement or upon the CRA’s execution of an interlocal agreement with the City of Boynton Beach for services, whichever is later. The date of operation may be extended by mutual agreement of the parties if necessary to accommodate installation of infrastructure as required by Section 4 this agreement. I. Service shall be periodically adjusted based upon needs identified during the term of the Agreement and the availability of funds. Section 2: Mobile Application Circuit shall provide a mobile application which provides for the following: A. Allows riders to request pick up and drop off locations within the Service Area. B. Allows the user to connect from Zone 1 and Zone 2. C. At no cost to the CRA, Circuit shall maintain updates to the application, which shall be compatible with smart phones and other mobile devices. D. Provides for the ability to charge a fee per rider and issue discounts via promo-codes. E. Provides users with approximate time until pick up. F. Allows users to rate drivers and provide feedback. G. Features a Google Maps based map (or equivalent) that identifies the boundaries of the Service Area. H. After a ride request has been accepted by a driver, depicts the real-time location of vehicles on a map of the Service Area. I. Ability to track party and usage data. 30 4853-3349-4940, v. 6 Section 3: Marketing and Branding A. In coordination with the CRA, Circuit shall develop and implement a branding strategy, which shall incorporate the logo and name of the CRA and the City of Boynton Beach. Circuit shall not implement any branding strategy without prior written approval from the CRA. Any changes to the branding strategy must be approved in writing by the CRA prior to implementation. B. Circuit shall develop and implement a marketing program to promote awareness of the program. The CRA shall have the right to request changes to the marketing program. C. The CRA retains the right to review marketing materials prior to use and to request changes or withdrawal of any marketing materials. Section 4: Vehicles and Infrastructure Circuit shall procure, license, operate and maintain vehicles and related infrastructure including charging stations used in the service in accordance with applicable laws and regulations with the following requirements. A. Fleet Size. Unless the parties agree otherwise, Circuit will acquire and operate at its own expense no fewer than two (2) GEM vehicles (inclusive of one (1) ADA accessible GEM vehicle) and two (2) EV Sedans as part of this Service. The parties agree that the hourly rate for the EV Sedans will be the same as the GEM vehicles for the Initial Term and Renewal Term of the Agreement. Circuit shall maintain and operate vehicles to satisfy the minimum levels of service and ADA accessibility requirements. B. Specifications. All vehicles will: i. Comply with all applicable laws and regulations. ii. Be fully electric. iii. Meet all safety standards established by applicable law or regulation. iv. Feature luggage carrying capacity. C. Branding. The branding strategy will be applied to all vehicles as follows: i. At all times during operation of any vehicles pursuant to this Agreement, Circuit may apply, but is not limited to, branding to all wheels, hoods, front panels, coping, roof and rear fenders, unless otherwise prohibited by the CRA. ii. Circuit shall develop a default vehicle wrap to be used when no paying advertiser has been identified for any vehicle or vehicles for a period of 7 days or longer unless otherwise approved by the CRA. iii. Exterior and interior advertising will not interfere with the placement or visibility of any branding required by this Agreement, unless otherwise approved by the CRA. D. Licensing. Circuit shall obtain and maintain proper licensing and registration of all vehicles at all times. E. Parking and charging stations. The CRA shall provide four (4) parking spaces that will be reserved exclusively for Circuit’s use, which Circuit may use for charging, parking, and storing the vehicles during times of non-operation. The location of the spaces will be as stated in the Interlocal agreement between the CRA and the City. Circuit shall be permitted to install Level 2 EV charging stations and signage at the three (3) of the reserved parking spaces. Circuit shall be solely responsible for the cost of signage, charging equipment, and electrical services required for charging vehicles. The CRA shall ensure that electrical service is available at the reserved spaces. Upon termination of the Agreement, Circuit shall restore the reserved parking spaces to their original condition. F. Maintenance and replacement. 31 4853-3349-4940, v. 6 i. At Circuit’s sole cost, Circuit shall maintain the interior and exterior of all vehicles in good working order, in accordance with all applicable laws and regulations. ii. Circuit shall ensure that all vehicles will be free of graffiti, vandalism, defacement and other damage to the satisfaction of the CRA. iii. Circuit shall replace any vehicle at its sole cost when the vehicle cannot be maintained in good working order, in accordance with applicable laws and regulations, or it is no longer able to be maintained in accordance with the requirements of this Agreement. iv. Circuit shall use its best efforts to restore or replace non -operational vehicles to operation within three (3) calendar days from the date of any incident requiring the vehicle to be removed from operation. Circuit shall provide verbal and written notice to the CRA of any delay in restoring or replacing a non-operational vehicle that extends beyond three (3) calendar days from the date of malfunction. If the CRA determines that any such delay is due to Circuit’s lack of diligence, the CRA will have the right to pursue any remedy provided for in this Agreement, or at law or equity. Section 5: Staffing A. General. Circuit shall provide sufficient staffing to maintain levels of service required by this Agreement. All persons providing services pursuant to this Agreement will be employees, contractors or consultants hired by the Circuit. Circuit is solely responsible for all staffing decisions made pursuant to this Contract. B. Drivers. Circuit shall obtain complete background checks on all drivers, including driving records, criminal checks and employment references, conduct initial drug testing, and provide a training program for newly hired drivers. Circuit shall not hire any convicted felon or any person who has been convicted or pled guilty to driving under the influence of drugs or alcohol as a misdemeanor in any state. Circuit shall not hire a driver with more than three (3) infractions relating to driving a motorized vehicle within the previous 24 months. Circuit to review each driver’s driving and criminal records at least annually. C. Circuit shall provide its employees with a living wage and tips. Section 6: Attaining and Maintaining Levels of Service (LOS) A. General. Circuit shall provide an LOS that meets customer demands at all times of Service operations. B. Service Level review. Circuit and the CRA shall meet at least quarterly to review LOS and determine if any adjustments are necessary. Any agreed upon adjustments will be made in writing. C. The CRA designates Timothy Tack as the Project Manager and will provide written notification to Circuit of any changes to the Project Manager. The Project Manager shall be Circuit’s principal point of contact regarding any matters relating to this Agreement. The Project Manager shall provide all general direction to Circuit regarding performance and provide guidance regarding the CRA’ s goals and policies. The Project Manager is authorized to waive or modify any material changes to this Scope of Work changes so long as the changes do not increase Compensation paid to Circuit. Except as provided herein, any modifications to the Scope of Services that increase the Compensation paid to Circuit must be agreed by the parties by written amendment to the Agreement. D. Circuit designates Jason Bagley as Circuit’s Representative for this Agreement. Circuit will provide written notice to the CRA should there be a subsequent Representative change. Circuit’s Representative has full right, power and authority to act for Circuit on all matters arising under or relating to this Agreement. E. Special events. CRA may request additional vehicles for special events. Such request shall be made at least thirty (30) days prior to the special event and may include a request the establishment 32 4853-3349-4940, v. 6 of a fixed route for existing vehicles and/or a request additional vehicles, subject to availability. For additional vehicles provided for special events, CRA agrees to pay the regular service hourly rate per vehicle of $34.97 plus the actual cost to transport the vehicle(s) to the requested location , which will be agreed to by the parties in writing, prior to transportation. Section 7. Trip Sharing A. Drivers shall be permitted to transport more than one (1) party but no more than five (5) parties in GEM vehicles and four (4) parties in the E-Sedan under the following conditions: i. The vehicle must be equipped with individual seatbelts for the driver and each rider. ii. All passengers must use seatbelts at all times. iii. The total number of passengers, including the driver does not exceed the vehicle’s legal capacity. Section 8: Operational Requirements A. Circuit and all its employees, officers, managers, staff, subcontractors and subconsultants shall comply with all applicable local, state and federal laws and regulations while performing work pursuant to this Agreement including but not limited to all laws and regulations regarding the safe operation of vehicles. B. Circuit shall prohibit drivers from texting or using smartphones, or other mobile device, eating, drinking, wearing headphones, and engaging in any activity that may cause the driver to become distracted while driving the vehicle. Parties acknowledge and agree that (i) drivers will only be permitted to wear Bluetooth enabled device or similar technology to provide service provided by this Contract in accordance with all laws governing such devices; and (ii) drivers may use smart phones mounted to the dashboard or windshield of the vehicles only in accordance with all laws governing such devices. C. Circuit must obtain all permits and approvals required in the ordinary course of business for the safe and legal operation of the Service, including without limitation, permits or approvals from the Florida Department of Highway Safety and Motor Vehicles, . Circuit is responsible for obtaining any permits and approvals required by the State of Florida for operation of the Service. D. Circuit to require all persons using the Service to comply with applicable local, state and federal laws and regulations relating to the use of seatbelts and alcohol consumption in vehicles. E. Circuit and its drivers are permitted to refuse service when, in the driver’s opinion, a passenger poses a threat to himself or herself, other passengers, the driver, the vehicle or other vehicles or persons. F. Circuit is permitted to establish reasonable restrictions on the provision of services to non-service animals. G. All Circuit drivers shall wear proper identification and a uniform. H. The CRA reserves the right to request immediate dismissal of any Circuit employees who fail to comply with the requirements of this Agreement. Relief personnel should be readily available during the term of this Agreement. Section 9: Operating Hours Each vehicle shall be available for an anticipated sixty (60) hours each week (“Vehicle Hours”) . The cost per vehicle shall be based on the rates described in the Pricing Schedule attached as Exhibit B. The Vehicle Hours shall occur within the following schedule: 33 4853-3349-4940, v. 6 Day Start time End time Mon 10:00 am 8:00 pm Tues 10:00 am 8:00 pm Weds 10:00 am 8:00 pm Thurs 10:00 am 8:00 pm Fri 10:00 am 10:00 pm Sat 10:00 am 10:00 pm Sun 10:00 am 8:00 pm CRA Project Manager shall have the discretion to reduce or increase the number of Vehicle Hours and/or determine the hours of operation based on level of demand as determined by monthly data collection and consideration of holidays or other special events so long as the total Vehicle Hours for each month does not exceed the CRA’s annual budget for the Service. Section 10: Levels of Service Reporting A. Circuit shall provide the CRA with monthly reports describing the level of service for each zone. Upon request, Circuit will provide the CRA with weekly level of service reports for each zone. B. Monthly data reports shall include: i. Number of parties on a daily, weekly and monthly basis ii. Number of paying customers iii. Gross/Net revenue collected for fare revenue credits which distinguishes between fare revenue collected for Zone 1 trips and fare revenue collected for Zone 2 trips. iv. Number of vehicles not in operation on a daily, weekly and monthly basis v. Average wait time from request through the mobile app until arrival by assigned driver on a daily, weekly and monthly basis. vi. Average trip duration on a daily, weekly and monthly basis. vii. Pick-up and drop off location for each trip. viii. Average number of passengers per party per trip. ix. Average number of parties per trip. x. Number of passenger complaints received and resolution of the complaints on a daily, weekly and monthly basis. C. Circuit shall present a report to the CRA Board on a quarterly basis summarizing the data provided in the monthly reports, the collected fare revenue, and the advertising revenue generated. D. In the event Circuit does not provide a required report(s), the CRA reserves the right to withhold payment until the required report is received. To the extent that the CRA requires additional information related to the above reporting requirement, Circuit shall provide the information to the CRA. Section 11: Advertisement Sales Circuit shall sell space on the exterior or interior of the vehicles for the display of commercial advertising. Net Advertising Revenue, defined below, that is generated by Circuit in connection with the sales of commercial advertising shall be divided equally between Circuit and the CRA. Net Advertising Revenue means the gross advertising revenue received less all costs and expenses, including, but not limited to 34 4853-3349-4940, v. 6 advertisement design, production costs, installation and removal costs and customary commissions paid to media sales representatives, incurred by Circuit in connection with providing the advertisement sales. Circuit shall provide an accounting of all advertising revenue with its Level of Service monthly report as required in Section 9, which shall include the gross revenue, costs and expenses Circuit shall provide to CRA a breakdown of the Net Advertising Revenue each month, which shall include the gross revenue plus costs and expenses incurred in connection with providing advertising sales Section 12. Advertising Guidelines A. In its agreements with its advertising contractors, Circuit shall reserve the right to reject any advertisement, commercial or noncommercial. B. Circuit shall determine the methods, details, and means for performing the Advertising Sales Services, subject to the CRA's consent which shall not be unreasonably withheld. C. All advertising and promotional materials, including, without limitation, any vehicle “wraps” (collectively “Advertising”) must conform to the following criteria: i. Defamatory Advertising. No Advertising will be permitted that falsely disparages any person, product, or company, or that is likely to damage the reputation of any person, product, or company. ii. Advertising Condoning Criminal Conduct. No Advertising will be permitted that is likely to incite or produce imminent unlawful activity. iii. Obscene Advertising. No Advertising shall display any statement, word, character, or illustration of an indecent or obscene nature, as defined by F.S. Chapter 847, as may be amended from time to time. iv. False Advertising. No Advertising shall displace false or misleading information, intended to mislead the public as to anything sold, any services to be performed or information disseminated. v. Tobacco, Firearms, and Cannabis. No Advertising shall display any statement that promotes the sale of tobacco or tobacco products, electronic cigarettes, firearms, or medical marijuana treatment centers or delivery devices in accordance with Florida law. vi. Existing Laws. All Advertising must conform to all applicable federal, state, and local statutes, laws, ordinances, rules and regulations. D. The CRA shall request removal of any advertising, commercial or noncommercial, that does not conform to this policy. Such demand will be in writing and will state reasonable grounds for the request. Circuit will consider and act promptly upon the request in accordance with this policy. Section 13: Ridership Fares A. Circuit shall collect ridership fares for the services, as follows: 35 4853-3349-4940, v. 6 i. For rides that begin and terminate within Zone 1: $1.00 for each rider. ii. For rides that begin or terminate in Zone 2: $2:00 for each rider. If the rider is part of a group, $2.00 for the initial rider and $1.00 for each additional rider within the group. B. Circuit shall credit the CRA’s monthly invoice for each Zone with 100% of the Net Fare Revenue, defined below, that is generated and collected from ridership fares. C. Net Fare Revenue means all gross ridership revenue that is collected from the passengers for the services less revenue collection costs and expenses, including but not limited to sales taxes or other taxes imposed by law, credit card processing fees and other billing related charging by third parties imposing similar processing charges. Circuit will be responsible for documenting all costs and expenses and related charges associated with the Net Fare Revenue calculations. 36 37 38 ATTACHMENT 1 AGREEMENT FOR ON-DEMAND TRANSPORTATION SERVICE by and between the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY and CIRCUIT TRANSIT, INC. 39                                    40                                                 41                                                42                                    43                                                44                                                 45                                              46                                        47                                                48                                               49                                             50                                               51                                                     52                                            53                                                      54                                            55            56           57                                                           58 City-Wide Micro-Transit Services 1 of 18 PROFESSIONAL SERVICES CONTRACT FOR OPERATION OF CITYWIDE MICRO-TRANSIT SERVICES THIS CONTRACT is being entered into this 1st day of July, 2023 (the “Effective Date”) by and between the City Of Hollywood (hereinafter the “City”), a municipal corporation of the State of Florida and Circuit Transit Inc. (hereinafter the “Company”), a corporation organized and existing under the laws of the State of Florida, having its principal office at 501 East Las Olas, Suite 300, Fort Lauderdale, Florida SECTION A – Contract Overview A-1 Summary of Contract (a)The subject matter of this Contract is to provide the vehicles, operate and manage a micro-transit service in the Service Area as defined in and Exhibits “A” (Scope of Work) and Exhibit “B” - RFP-045-23-SK- CITYWIDE MICRO-TRANSIT SERVICES, Exhibit “D” (Service Areas”), and Exhibit E, which sets forth the terms and conditions for the performance of services described herein, and the execution hereof by the parties hereto forms a legally binding contract. In the event of a conflict, the City’s RFP Documents shall prevail unless otherwise stated in this Contract. (b)The Contract type is: This is a Non-Exclusive Contract. (c)The following documents are hereby incorporated into this Contract: (i)Exhibit “A” – Statement of Work (ii)Exhibit “B” - RFP-045-23-SK - Citywide Micro-Transit Services (iii)Exhibit “C” - Company’s Proposal (iv)Exhibit “D” - Service Areas (v)Exhibit "E" - Pricing A-2 Contract Amount The Contract Amount shall not exceed $1,128,942.00 USD for the performance period. A-3 Performance Period (a)The performance period commences from Effective Date and continues for a period of 12 months. This Agreement may be renewed by the parties for three one-year periods upon mutual agreement of the parties and said renewal shall be in writing in accordance with Section D-13 of this Contract. SECTION B – Statement of Work B-1 Statement of Work (a)Services will be provided in accordance with the Statement of Work set forth in Exhibits “A” “B”, “C”, ”D” and “E”, SECTION C – Special Conditions C-1 Project Manager/Company Representative (a)The City designates Mark L. Johnson as the Project Manager for this Contract, who may be contacted at: mjohnson@hollywoodfl.org or (954) 921-3991 The City will provide written notice to the Company should there be a subsequent Project Manager change. The Project Manager will be the Company’s principal point of contact at the City regarding any matters relating to this Contract, will provide all general direction to the Company regarding Contract performance, and will provide guidance regarding the City’s goals and policies. The Project Manager is not authorized to waive or modify any material scope of work changes or terms of the Contract. (b)The Company designates Jason Bagley as the Company Representative for this Contract, who may be contacted at jason@ridecircuit.com The Company will provide written notice to the City should there be a subsequent Company                            EXHIBIT C: Piggybacked Agreement 59 City-Wide Micro-Transit Services 2 of 18 Representative change. The City has the right to assume that the Company Representative has full authority to act for the Company on all matters arising under or relating to this Contract. C-2 Pricing and Payment (a) Payment. Payment to the Company will be made only for the actual Services performed and accepted by the City, upon receipt of an invoice submitted in accordance with Section C-4, “Invoices”. (b) The City will pay the Company in accordance with the pricing set forth in Exhibit “E” – Pricing to this Contract. (a) Reimbursable Travel Expenses. There are no reimbursable travel expenses payable under this Contract. C-3 Pricing Revisions Costing adjustments shall be governed by Exhibit “B”, Section 1.70 and as set forth below: (a) For the term of this Contract, pricing may be revised for the reason(s) set forth below: ● Change in minimum wage ● Approved decision to add additional cars ● Approved decision to adjust the number of service hours ● Approved decision to add, adjust or modify additional services that increases costs for the Company (b) Each pricing revision permitted herein must be approved in writing by the Project Manager and, if approved, shall become effective thirty (30) days after notice of the change has been received by the City, or on such earlier or later date as may be agreed upon by the parties. However, any pricing changes will be governed by the City’s Purchasing Ordinance and dependent upon the revisions, City Commission approval may be required. (c) Any pricing revision permitted pursuant to this section may be delayed or denied if the Company fails to submit a timely request or fails to provide adequate documentation in support thereof. (d) Any approved pricing revision is not retroactive, and any invoice pending on the date of approval of the pricing revision shall be paid on the basis of the pricing in effect on the date services were provided. C-4 Invoices (a) The Company will submit a monthly detailed invoice to the City, in a format to be defined by the Project Manager as negotiated with Company. Each invoice shall contain the following information: (i) the date of the invoice and invoice number; (ii) the purchase order number; (iii) the Contract Item(s) according to Exhibit E – Pricing against which charges are made; and, (iv) performance dates covered by the invoice. (v) service credits offered from advertising dollars received by Company (vi) Net revenue credits received by the Company Upon reconciliation of all errors, corrections, credits, and disputes, payment to the Company will be made in full within 30 calendar days. Invoices received without a valid purchase order number will be returned unpaid. The Company shall submit the original invoice to: accountspayable@hollywoodfl.org or mail them to: City of Hollywood Accounts Payable, Room 119 P.O. Box 2229045 Hollywood, FL 33022-9045 (b) The Company shall forward a copy of the invoice to the Project Manager, with the following items:                            60 City-Wide Micro-Transit Services 3 of 18 (i) receipts for any Reimbursable Travel Expenses, if applicable, associated with the invoice; and (ii) copy of the applicable Deliverable associated with the invoice C-5 Insurance (a) The Company shall procure and maintain, at its own expense, during the entire term of the Contract, the insurance coverages as identified in Exhibit “B”, Section 3.17: (b) The insurance policy shall not contain any exceptions that would exclude coverage for risks that can be directly or reasonably related to the scope of goods or services in this contract. A violation of this requirement at any time during the term, or any extension thereof shall be grounds for the immediate termination of any contract entered in to pursuant to this contract. The City must be provided a signed statement from insurance agency of record that the full policy contains no such exception. Submit certificates of insurance to: City of Hollywood Department of Development Services P.O. Box 2229045 Hollywood, FL 33022-9045 A certified, true and exact copy of each of the project specific insurance policies (including renewal policies) required under this Section C-5 shall be provided to the City if so requested. (c) The certificates and endorsements for each insurance policy are to be signed by a person authorized by that insurer and licensed by the State of Florida and the company or companies must maintain a minimum rating of A-VII, as assigned by the A.M. Best Company. (d) If the Company fails to carry the required insurance, the City may (i) order the Company to stop further performance hereunder, declare the Company in breach, pursuant to Section C-6, terminate the Contract if the breach is not remedied and, if permitted, assess liquidated damages, or (ii) purchase replacement insurance and withhold the costs or premium payments made from the payments due to the Company or charge the replacement insurance costs back to the Company. (e) Any subcontractor or sub consultant approved by the City shall be required to procure, maintain and submit proof of insurance to the City of the same insurance requirements as specified above, and as required in this paragraph. (f) The Company is encouraged to purchase any additional insurance it deems necessary. (g) The Company is required to make its best efforts to remedy all injuries to persons and damage or loss to any property of the City caused in whole or in part by the Company, its subcontractors or anyone employed, directed or supervised by the Company. C-6 Warranty – Services The Company warrants that the services shall be performed in full conformity with this Contract and Exhibits “A” and “B”, with the professional skill and care that would be exercised by those who perform similar services in the commercial marketplace, and in accordance with accepted industry practice. In the event of a breach of this warranty, or in the event of non-performance or failure of the Company to perform the services in accordance with this Contract, the Company shall, at no cost to the City, re-perform or perform the services so that the services conform to the warranty. However, if Company fails to perform, City may terminate this Agreement with or without cause consistent with Exhibit “A”.                            61 City-Wide Micro-Transit Services 4 of 18 SECTION D – General Conditions D-1 Legal Notice (a) All legal notices required pursuant to the terms and conditions of this Contract shall be in writing unless an emergency situation dictates otherwise. Any notice required to be given under the terms of this Contract shall be deemed to have been given when (i) received by the party to whom it is directed by hand delivery or personal service, (ii) transmitted by facsimile with confirmation of transmission, (iii) transmitted by email with confirmation of receipt by addressee, or (iv) sent by U.S. mail via certified mail-return receipt requested at the following addresses: FOR THE CITY: Project Manager City of Hollywood 2600 Hollywood Blvd., Rm. 308 Hollywood, FL 33020 WITH A COPY TO: City Attorney City of Hollywood 2600 Hollywood Blvd., Rm. 407 Hollywood, FL 33020 FOR THE COMPANY: James Mirras Circuit Transit Inc. 501 East Las Olas Suite 300 Fort Lauderdale, FL 33301 (b) The parties shall provide written notification of any change in the information stated above. (c) An original signed copy, via U. S. Mail, shall follow facsimile transmissions. (d) For purposes of this Contract, legal notice shall be required for all matters involving potential termination actions, litigation, indemnification, and unresolved disputes. This does not preclude legal notice for any other actions having a material impact on the Contract. (e) Routine correspondence should be directed to the Project Manager or the Company Representative, as appropriate. D-2 Notice of Delay (a) If timely performance by the Company is jeopardized by the non-availability of City provided personnel, data, or equipment, the Company shall notify the City immediately in writing of the facts and circumstances causing such delay. Upon receipt of this notification, the City will advise the Company in writing of the action which will be taken to remedy the situation. (b) The Company shall advise the City in writing of an impending failure to meet established milestones or delivery dates based on the Company’s failure to perform. Notice shall be provided as soon as the Company is aware of the situation; however, such notice shall not relieve the Company from any existing obligations regarding performance or delivery. D-3 Termination for Convenience The City shall have the right at any time to terminate further performance of this Contract, in whole or in part, for any reason whatsoever (including no reason) within 120-days notice and as more specifically set forth in Exhibit “B”. Such termination shall be effected by written notice from the City to the Company specifying the extent and effective date of the termination. On the effective date of the termination, the Company shall terminate all work and take all reasonable actions to mitigate expenses. The Company shall submit a written request for incurred costs for services performed through the date of termination and shall provide any substantiating documentation requested by the City. In the event of such termination, the                            62 City-Wide Micro-Transit Services 5 of 18 City agrees to pay the Company within thirty (30) days after receipt of a correct, adequately documented written request. The City’s sole liability under this Section is for payment of costs for services requested by the City and actually performed by the Company. D-4 Event of Default (a) If, during the term of this Contract, the Company (i) fails to deliver services that comply with the specifications, (ii) fails to deliver the services within the time specified in in this Contract including Exhibit “A” (iii) fails to make progress so as to endanger the performance of this Contract, (iv) becomes insolvent, bankrupt or makes an assignment for the benefit of creditors, or if a receiver or trustee in bankruptcy is appointed for the Company, or if any proceeding in bankruptcy, receivership, or liquidation is instituted against the Company and is not dismissed within 30 days following commencement thereof, or (v) fails to perform any of the other obligation or requirement of this Contract, then any of the aforementioned failures shall constitute an “Event of Default” under this Contract. Events of Default shall also include those items set forth in Exhibit “B” specifically Section 1.63. (b) If there occurs an Event of Default, the Company shall be entitled to 10 calendar days from written notice thereof to remedy the Event of Default, provided, however, such is capable of being remedied within that period. If the Event of Default can be remedied, but the remedy cannot be completed within the ten-day period, the Company may be allowed such additional time as may be reasonably necessary to remedy the Event of Default, provided, however, the remedy is commenced within the 10 day period and is diligently pursued to completion. If the Event of Default is incapable of remediation, or is not remedied as required herein, the City may, in addition to any other remedies available in law or equity, invoke any of the remedies provided for under Section D-5, “Termination for Default”, below and as set forth in Exhibit “B” Section 1.64. D-5 Termination for Default (a) If the Event of Default is not remedied as required pursuant to Section D-4, “Event of Default”, the City may, by written notice to the Company pursuant to Section D-1, “Legal Notice”, terminate this Contract in whole or in part. (b) If this Contract is terminated in whole or in part because the Company has failed to provide services in compliance with the specifications by the deadline of remediation period, the City may acquire, under reasonable terms and in a manner it considers appropriate, replacement goods that are comparable to the services that the Company failed to deliver to the City, and the Company shall be liable to the City for any excess costs related thereto. If the City terminates this Contract only in part, the Company shall continue to perform the un-terminated obligations or portions of this Contract. (c) Force Majeure. This Contract shall be governed by the Force Majeure provision in Exhibit “B”, Section 7.34. (d) The City retains the right to terminate for default immediately if the Company fails to maintain the required levels of insurance, fails to comply with applicable local, state, and Federal statutes governing performance of these services, or fails to comply with statutes involving health or safety. D-6 Limitation of Funding Company acknowledges that the obligation of City to pay Company is limited to the availability of funds appropriated in a current fiscal year period, and continuation of Contract into a subsequent fiscal year is subject to the appropriation of funds, unless otherwise authorized by law. The City reserves the right to reduce estimated or actual quantities, in whatever amount necessary, without prejudice or liability to the City, if funding is not available or if legal restrictions are placed upon the expenditure of monies for the services required under this Contract. In the event of a decrease or limitation in funding the Company reserves the right to reduce service levels or suspend service as needed. D-7 Changes – Fixed-Price Goods or Services (a) The City may at any time, , and without notice to the sureties, if any, request changes within the general scope of this Contract in any one or more of the following: (i) Description of services to be performed or goods to be provided including types of vehicles and number of vehicles. (ii) Time of performance (i.e., hours of the day, days of the week, etc.). (iii) Place of performance of the services.                            63 City-Wide Micro-Transit Services 6 of 18 (iv) Time or place of delivery of goods (b) Upon written mutual agreement, Company and the City will determine the appropriate adjustment(s) to the services. (c) Any change to the cost of services will be based upon the schedule in Exhibit E: Pricing as determined by types of vehicles, number of vehicles and operating hours. (d) The Company must assert its right to an adjustment under this clause within 30 days from the date of receipt of the written order; however, if the City decides that the facts justify, the City may receive and act upon a proposal submitted before final payment of the Contract. (e) If the mutually agreed adjustment includes the cost of property made obsolete or excess by the change, the City shall have the right to prescribe the manner of the disposition of the property. (f) The Company shall provide current, complete, and accurate documentation to the City in support of any request for equitable adjustment. Failure to provide adequate documentation, within a reasonable time after a request from the City, will be deemed a waiver of the Company’s right to dispute the equitable adjustment proposed by the City, where such equitable adjustment has a reasonable basis at the time it is determined by the City. D-8 Entire Contract, Section and Paragraph Headings (a) This Contract, including all Exhibits, represents the entire and integrated agreement between the City and the Company. It supersedes all prior and contemporaneous communications, representations, and agreements, whether oral or written, relating to the subject matter of this Contract. (b) The section and paragraph headings appearing in this Contract are inserted for the purpose of convenience and ready reference. They do not purport to define, limit or extend the scope or intent of the language of the sections and paragraphs to which they pertain. D-9 Severability The invalidity, illegality, or unenforceability of any provision of this Contract or the occurrence of any event rendering any portion or provision of this Contract void shall in no way affect the validity or enforceability of any other portion or provision of this Contract. Any void provision shall be deemed severed from this Contract, and the balance of this Contract shall be construed and enforced as if this Contract did not contain the particular portion or provision held to be void. The parties further agree to amend this Contract to replace any stricken provision with a valid provision that comes as close as possible to the intent of the stricken provision. The provisions of this clause shall not prevent this entire Contract from being void should a provision which is of the essence of this Contract be determined void. D-10 Waiver Waiver of any of the terms of this Contract shall not be valid unless it is in writing signed by each party. The failure of the City to enforce any of the provisions of this Contract, or to require performance of any of the provisions herein, shall not in any way be construed as a waiver of such provisions or to affect the validity of any part of this Contract, or to affect the right of the City to thereafter enforce each and every provision of this Contract. Waiver of any breach of this Contract shall not be held to be a waiver of any other or subsequent breach of this Contract. D-11 Modification/Amendment This Contract shall not be modified or amended except by the express written agreement of the parties, signed by a duly authorized representative for each party. Any other attempt to modify or amend this Contract shall be null and void and may not be relied upon by either party. D-12 Assignment Neither party may assign their rights nor delegate their duties under this Contract without the written consent of the other party. Such consent shall not be withheld unreasonably. Any assignment or delegation shall not relieve any party of its obligations under this Contract. D-13 Indemnification In addition to the insurance requirements set forth in Section C-5, “Insurance”, the Company shall protect, indemnify and hold harmless the City, its officers, employees, agents, and consultants (collectively herein the “City”) from any and all                            64 City-Wide Micro-Transit Services 7 of 18 claims, liabilities, damages, losses, suits, actions, decrees, and judgments including, attorney's fees, court costs or other expenses of any and every kind or character (collectively herein the “Liabilities”) which may be recovered from or sought against the City, as a result of, by reason of, or as a consequence of, any intentional, wrongful or negligent act or omission, on the part of the Company, its officers, employees, or agents in the performance of the terms, conditions and covenants of the Contract, regardless of whether the Liabilities were caused in part by the City. This provision includes the indemnity requirements set forth in Exhibit “A”, Section 1.46. The provisions and obligations under this section shall survive the expiration or earlier termination of this Agreement. Nothing in this Contract shall be construed to affect in any way the City’s rights, privileges, and immunities under the doctrine of “sovereign immunity” and as set forth in Section 768.28, Florida Statutes. It is expressly agreed that the Company shall defend the City against the Liabilities and in the event that the Company fails to do so, the City shall have the right, but not the obligation, to defend the same and to charge all direct and incidental costs, including attorney’s fees and court costs, to the Company. D-14 Patent Indemnity The Company hereby indemnifies and shall defend and hold harmless the City and its representatives respectively from and against all claims, losses, costs, damages, and expenses, including attorney’s fees, incurred by City and its representatives, respectively, as a result of or in connection with any claims or actions based upon infringement or alleged infringement of any patent and arising out of the use of the equipment or materials furnished under the contract by the Company, or out of the processes or actions employed by, or on behalf of the Company in connection with the performance of the Contract. The Company shall, at its sole expense, promptly defend against any such claim or action unless directed otherwise by the City or its representative; provided that the City or its representatives shall have notified the Company upon becoming aware of such claims or actions and provided further that the Company’s aforementioned obligations shall not apply to equipment, materials, or processes furnished or specified by the City or its representatives. Said Patent Indemnity includes the provisions set forth in Exhibit “B”, Section 7.47, Patent and Copyright Indemnification. D-15 Audit of Records (a) In addition to the Audit requirements set forth below, the parties shall be governed by the Audit requirements set forth in Exhibit “B”, Section 7.28, Audit Rights. (b) The Company agrees to maintain the financial books and records (including supporting documentation) pertaining to the performance of this Contract according to standard accounting principles and procedures. The books and records shall be maintained for a period of three years after completion of this Contract, except that books and records which are the subject of an audit finding shall be retained for three years after such finding has been resolved. If the Company goes out of business, the Company shall forward the books and records to the City to be retained by the City for the period of time required herein. (c) The City or its designated representative(s) shall have the right to inspect and audit (including the right to copy and/or transcribe) the books and records of the Company pertaining to the performance of this Contract during normal business hours. The City will provide prior written notice to the Company of the audit and inspection. If the books and records are not located within Broward County, the Company agrees to deliver them to the City, or to an address designated by the City within Broward County. In lieu of such delivery, the Company may elect to reimburse the City for the cost of travel (including transportation, lodging, meals and other related expenses) to inspect and audit the books and records at the Company’s office. If the books and records provided to the City are incomplete, the Company agrees to remedy the deficiency after written notice thereof from the City, and to reimburse the City for any additional costs associated therewith including, without limitation, having to revisit the Company's office. The Company's failure to remedy the deficiency shall constitute a material breach of this Contract. The City shall be entitled to its costs and reasonable attorney fees in enforcing the provisions of this Section. (d) If at any time during the term of this Contract, or at any time after the expiration or termination of the Contract, the City or the City’s designated representative(s) find the dollar liability is less than payments made by the City to the Company, the Company agrees that the difference shall be either: (i) repaid immediately by the Company to the City or (ii) at the City’s option, credited against any future billings due the Company. D-16 Confidentiality – City Information (a) The parties acknowledge that this Contract is subject to Chapter 119, Florida Statutes, entitled the “Public Records Act”.                            65 City-Wide Micro-Transit Services 8 of 18 (b) All information, including but not limited to, oral statements, computer files, databases, and other material or data supplied to the Company is confidential and privileged. The Company shall not disclose this information, nor allow to it be disclosed to any person or entity without the express prior written consent of the City. The Company shall have the right to use any such confidential information only for the purpose of providing the services under this Contract, unless the express prior, written consent of the City is obtained. Upon request by the City, the Company shall promptly return to the City all confidential information supplied by the City, together with all copies and extracts. (c) The confidentiality requirements shall not apply where (i) the information is, at the time of disclosure by the City, then in the public domain; (ii) the information is known to the Company prior to obtaining the same from the City; (iii) the information is obtained by the Company from a third party who did not receive the same directly or indirectly from the City; or (iv) the information is subpoenaed by court order or other legal process, but in such event, the Company shall notify the City. In such event the City, in its sole discretion, may seek to quash such demand. (d) The obligations of confidentiality shall survive the termination of this Contract. D-17 Marketing Restrictions The Company may not publish or sell any information from or about this Contract without the prior written consent of the City. This restriction does not apply to the use of the City’s name in a general list of customers, so long as the list does not represent an express or implied endorsement of the Company or its services. This restriction does not apply to general marketing of the services to promote and inform the public about the services. D-18 Taxes/Compliance with Laws (a) The Company, in the performance of the obligations of this Contract, shall comply with all applicable laws, rules and regulations of all governmental authorities having jurisdiction over the performance of this Contract including, but not limited to, the Federal Occupational Safety and Health Act. D-19 Licenses/Registrations During the entire performance period of this Contract, the Company shall maintain all federal, state, and local licenses, certifications and registrations applicable to the work performed under this Contract, including maintaining an active City of Hollywood business license if required. D-20 Non-Discrimination and Fair Employment Practices (a) Discrimination: The City of Hollywood is committed to promoting full and equal business opportunity for all persons doing business in Hollywood. The Company acknowledges that the City has an obligation to ensure that public funds are not used to subsidize private discrimination. Company recognizes that if the Company or their subcontractors or subconsultants are found guilty by an appropriate authority of refusing to hire or do business with an individual or company due to reasons of race, color, religion, sex, sexual orientation, gender identity or expression, age, disability, national origin, or any other legally protected status; City may declare the Company in breach of contract and terminate Contract. (b) Fair Employment Practices: In connection with the performance of work under this Contract, the Company agrees not to discriminate against any employee or applicant for employment because of race, color, religion, national origin, sex, sexual orientation, gender identity or expression, age, disability, national origin, or any other legally protected status. Such agreement shall include, but not be limited to, the following: employment; upgrading; demotion or transfer; recruitment or recruitment advertising; layoff or termination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. (c) The Company further agrees to insert this provision in all subcontracts hereunder. Any violation of such provision by a Company shall constitute a material breach of this Contract. D-21 Employment of Unauthorized Aliens In accordance with the Immigration Reform and Control Act of 1986, the Company agrees that it will not employ unauthorized aliens in the performance of this Contract. D-22 Conforming Services                            66 City-Wide Micro-Transit Services 9 of 18 The services performed under this Contract shall conform in all respects with the requirements set forth in this Contract. The Company shall furnish the City with sufficient data and information needed to determine if the services performed conform to all the requirements of this Contract. D-23 Independent Contractor In the performance of services under this Contract, the Company and any other person employed by it shall be deemed to be an independent contractor and not an agent or employee of the City. The Company shall be liable for the actions of any person, organization or corporation with which it subcontracts to fulfill this Contract. The City shall hold the Company as the sole responsible party for the performance of this Contract. The Company shall maintain complete control over its employees and all of its subcontractors. Nothing contained in this contract or any subcontract awarded by the Company shall create a partnership, joint venture or agency with the City. Neither party shall have the right to obligate or bind the other party in any manner to any third party. D-24 Official, Agent and Employees of the City Not Personally Liable It is agreed by and between the parties of this Contract, that in no event shall any official, officer, employee, or agent of the City in any way be personally liable or responsible for any covenant or agreement therein contained whether expressed or implied, nor for any statement, representation or warranty made herein or in any connection with this Contract. D-25 Public Records The City is a public agency as defined by state law and is governed by Chapter 119, Florida Statutes, “Public Records Act”. The City’s Records are public records, which are subject to inspection and copying by any person (unless declared by law to be confidential). The following provisions are required by Section 119.0701, Florida Statutes, and may not be amended. Company shall comply with the public records law. Company shall keep and maintain public records required by the City in the performance of services under this Contract. Upon request from City’s custodian of records, Company shall provide City with a copy of any requested public records or to allow the requested public records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law. Company shall 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’s term and following completion of the Contract if Company does not transfer the public records to City. Upon completion of the Contract, Company shall transfer, at no cost, to City, all public records in its possession or keep and maintain public records required by City to perform the services required under this Contract. If Company transfers all of the public records to City upon completion of the Contract, Company shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If Company keeps and maintains public records upon completion of the Contract, Company shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the City, upon request from the city’s custodian of public records, in a format that is compatible with the information technology systems of the City. IF A PARTY TO THIS CONTRACT HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO ITS DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT PATRICIA A. CERNY, CITY CLERK CUSTODIAN OF PUBLIC RECORDS AT (954) 921-3211, PCERNY@HOLLYWOODFL.ORG, 2600 HOLLYWOOD BLVD., HOLLYWOOD, FLORIDA 33020 AND STEVE STUART DIRECTOR OF PROCUREMENT AT (954) 921-3628 SSTEWART@HOLLYWOODFL.ORG. D-26 Use By Other Government Entities A governing body or its authorized representative and the State of Florida may join or use the contracts of local governments located within or outside this State with the authorization of the contracting vendor. It is understood and agreed by Company and the City that any governmental entity may purchase the services specified herein in accordance with the prices, terms, and conditions of this Agreement. It is also understood and agreed that each local entity will establish its own contract with Company, be invoiced therefrom and make its own payments to Company in accordance with the terms of the contract established between the new governmental entity and Company. In the event the Company allows another governmental entity to join the Contract, it is expressly understood that the City shall in no way be liable for the obligations of the joining governmental entity.                            67 City-Wide Micro-Transit Services 10 of 18 D-27 Governing Law This Contract, including appendices and Exhibits, and all matters relating to this Contract (whether in contract, statute, tort (such as negligence or otherwise), shall be governed by, and construed in accordance with, the laws of the State of Florida. This shall apply notwithstanding such factors which include, but are not limited to, the place where the contract is entered into, the place where the accident occurs and notwithstanding application of conflicts of law principles. The parties waive the privilege of venue and agree that all litigation between them in the state courts shall take place Broward County, Florida and that all litigation between them in the federal courts shall take place in the Southern District of Florida. D-28 Counterpart Signatures This Contract may be executed in counterparts. All such counterparts will constitute the same contract and the signature of any party to any counterpart will be deemed a signature to, and may be appended to, any other counterpart. Executed copies hereof may be delivered by facsimile or e-mail and upon receipt will be deemed originals and binding upon the parties hereto, regardless of whether originals are delivered thereafter. IN WITNESS WHEREOF, the parties hereto have caused this Contract to be executed by their duly authorized representatives. CITY OF HOLLYWOOD COMPANY Name, Title Name, Title Date ATTEST: Date APPROVED AS TO FORM: Name, Title Date                                   68 City-Wide Micro-Transit Services 11 of 18 EXHIBIT A – STATEMENT OF WORK Company to develop, implement and manage a Micro-Transit “On Demand” service (the "Service”) in the areas identified in Exhibit D The Service will have the ability to be on demand and include smart stops as specified in this Statement of Work The Service will serve visitors, residents, and workers by providing a convenient, efficient mobility option to circulate throughout downtown Hollywood, the Beach, and portions of West Hollywood. The Service shall: ● Operate in two micro-transit zones (MTZ-1/MTZ-2), covering approximate 4.6 square miles of coverage area, and provide on-demand service as illustrated in Exhibit D. ● Operate a 6-month on-demand pilot test (MTZ-3), covering approximately 1.97 square miles of coverage area as illustrated in Exhibit D. ● Operate a Pilot Fixed Route service between designated pick-up locations within Hollywood West and designated Beach/Downtown locations using a E-van from MTZ-1 as illustrated in Exhibit D ● Ability to supplement any part of the service with a fixed route if deemed necessary through data and public needs. ● Hours of operation and headways are to be initially proposed by Company until the level of demand is identified after a few months of operation and data collection. ● Demonstrate the ability to scale up and down the fleet of vehicles and deploy them to various locations based on monthly, weekly, daily, and hourly fluctuations in demand in order to achieve a desired level of service. ● Operate vehicles that meet the Federal Motor Vehicle Safety Standards and Regulations. ● Provide a safe and pleasing passenger experience with capable, qualified and courteous drivers. ● Feature a mobile application downloadable from both the Apple Store and Google Play Store with which will have the ability to charge a fee for service via a secured credit card payment system. ● Feature a mobile application where the user will be able to locate his or her position and contact the next approaching vehicle with approximate wait times. ● Provide a dedicated phone line so that users can call and request assistance. ● System will be operational within 45 days from Notice to Proceed to include vehicle procurement, financial operating plan, sufficient liability coverage and mobile application. Service will be adjusted based upon needs identified from six months of data and the availability of funds. Once six months of data is received and analyzed per Data Reporting requirements in Section 1.9, b. the City and Company shall meet and negotiate terms for the year two renewal period. Ridership, service levels, service area, number of vehicles, ad revenue, fare revenue and overall contract performance will be determining factors in determining if service will remain the same or expand based on ridership demand. 1.1 Mobile Application a. Company to provide a mobile application which allows riders to request pick up and drop off locations. b. Ability to allow the user to connect from one mirco-transit zone to another (MTZ-2 and MTZ-3 will be combined into a single zone for the purpose of the pilot test) c. At no cost to the City, maintain updates to the application and be compatible to smart phones and other mobile devices. d. Provide ability to charge a fee per rider and issue discounts via promo-codes. e. Provide users with approximate time until pick up. f. Allow users to rate drivers and provide feedback. g. Feature a Google Maps based map (or equivalent) that identifies the boundaries of each Service Area. h. After a ride request has been accepted by a driver, depict the real-time location of vehicles on a map of the appropriate Service Area. i. Ability to track party and usage data. 1.2 Marketing and Branding a. In coordination with the City of Hollywood, the Company will develop and implement a branding strategy. Company will not implement any branding strategy without prior written approval from the City. Any changes to the branding strategy must be approved in writing by the City prior to implementation. b. Company to develop and implement a marketing program to promote awareness of the program. The City will have the right to request changes to the marketing program.                            69 City-Wide Micro-Transit Services 12 of 18 c. The City retains the right to review marketing materials prior to use and request changes or withdrawal of any marketing materials. 1.3 Vehicles and Infrastructure a. Company to procure, store, license, operate and maintain vehicles and related infrastructure including charging stations used in the service in accordance with applicable laws and regulations with the following requirements. i. Fleet Size. Unless the parties agree otherwise, Company will acquire and operate at its own expense no fewer than 8 GEM vehicles (includes one ADA accessible GEM on standby), 2 EV Vans (1 ADA Accessible), and 1 EV Sedan as part of this Service. Company to maintain and operate vehicles to satisfy the minimum levels of service and ADA accessibility requirements. b. Specifications. All vehicles will: i. Comply with all applicable laws and regulations. ii. Be fully electric. iii. Meet all safety standards established by applicable law or regulation. iv. Feature luggage carrying capacity. c. Branding. The branding strategy will be applied to all vehicles as follows: i. At all times during operation of any vehicles pursuant to this Contract, Company may include but is not limited to branding to all wheels, hoods, front panels, coping, roof and rear fenders unless otherwise approved by the City. ii. Company to develop a default vehicle wrap to be used when no paying advertiser has been identified for any vehicle or vehicles for a period of 7 days or longer unless otherwise approved by the City. iii. Exterior and interior advertising will not interfere with the placement or visibility of any branding required by this Contract, unless otherwise approved by the City. d. Licensing. Company to obtain and maintain proper licensing and registration of all vehicles at all times. e. Charging. The City will make available to the Company, City owned charging stations for vehicles although the City cannot ensure the availability of charging stations to service all vehicles in the fleet to satisfy the levels of service required by this Contract. Company to ensure charging stations are available to adequately service all vehicles in the fleet to satisfy the levels of service required by this Contract. f. Storing. The City will provide parking and operation space in a City-owned parking facility. Company will be responsible for storing and securing vehicles during times of non-operation. g. Maintenance and replacement. At Company’s sole cost, Company to maintain the interior and exterior of all vehicles in good working order, in accordance with all applicable laws and regulations. Vehicles to be free of graffiti, vandalism, defacement and other damage to the satisfaction of the City. Company will replace any vehicle at its sole cost when the vehicle cannot be maintained in good working order, in accordance with applicable laws and regulations or it is no longer able to be maintained in accordance with the requirements of this Contract. Company to use its best efforts to restore non-operational vehicles to operation within 10 business days from the date of any incident requiring the vehicle to be removed from operation. Company to provide verbal and written notice of the City of any delay in restoring a non- operational vehicle that extends beyond ten (10) business days from the date of malfunction. If the city determines that any such delay is due to Company’s lack of diligence the City will have the right to pursue any remedy provided for in this Contract or at law or equity. 1.4 Staffing a. General. Company to provide sufficient staffing to maintain levels of service required by this Contract. All persons provide services pursuant to this Contract will be employees, contractors or consultants hired by the Company. Company is solely responsible for all staffing decisions made pursuant to this Contract. b. Drivers. Company to obtain complete background checks on all drivers, including driving records, criminal checks and employment references, conduct initial drug testing, and provide a training program for newly hired drivers. Company will not hire any convicted felon or any person who has been convicted or pled guilty to driving under the influence of drugs or alcohol as a misdemeanor in any state. Company will not hire a driver with more than three (3) infractions relating to driving a motorized vehicle within the previous 24 months. Company to review each driver’s driving and criminal records at least annually. c. Company to provide Living Wage and tips. 1.5 Attaining and Maintaining Levels of Service (LOS) a. General. Company to provide an LOS that meets customer demands at all times of Service operations.                            70 City-Wide Micro-Transit Services 13 of 18 b. Service Level review. Company and City to meet at least annually to review LOS and determine if any adjustments are necessary. Any agreed upon adjustments will be made in writing. 1.6 Trip Sharing a. The Services may permit drivers to transport more than one (1) party but no more than Five (5) parties in GEM vehicles, Three (3) parties in an E-Sedan, and Twelve (12) parties in the E-van, and Eight (8) parties in the ADA E-van simultaneously under the following conditions: i. Each passenger has a separate seatbelt. ii. The total number of passengers, including the driver does not exceed the vehicle’s legal capacity. 1.7 Operational Requirements a. Company and all its employees, officers, managers, staff, subcontractors and subconsultants will comply with all applicable local, state and federal laws and regulations while performing work pursuant to this Contract including but not limited to all laws and regulations regarding the safe operation of vehicles. Company to prohibit drivers from texting or using smartphones, or other mobile device, eating, drinking, wearing headphones, and engaging in any activity that may cause the driver to become distracted while driving the vehicle. Parties acknowledge and agree that (i) drivers will only be permitted to wear Bluetooth enabled device or similar technology to provide service provided by this Contract in accordance with all laws governing such devices; and (ii) drivers may use smart phones mounted to the dashboard or windshield of the vehicles only in accordance with all laws governing such devices. b. Company must obtain all permits and approvals required in the ordinary course of business for the safe and legal operation of the Service, including without limitation, permits or approvals from the Florida Transportation Authority. Company is responsible for obtaining any permits and approvals required by the State of Florida for operation of the Service. c. Company to require all persons using the Service to comply with applicable local, state and federal laws and regulations relating to the use of seatbelts and alcohol consumption in vehicles. d. Company and its drivers are permitted to refuse service when, in the driver’s opinion, a passenger poses a threat to himself or herself, other passengers, the driver, the vehicle or other vehicles or persons. e. Company is permitted to establish reasonable restrictions on the provision of services to non-service animals. 1.8 Operating Hours a. Company to provide the Service for 11 hours per day, seven days (7) days per week for MTZ Zone 1 b. Company to provide the Service for 8 hours per day, seven (7) days per week for MTZ Zone 2 c. Company to provide the Service for 8 hours per day, seven (7) days per week, for 6 months for MTZ Pilot Zone 3 d. Company to remove 1 EV-van from service in MTZ-1 to provide Fixed Route Service 2 days per week for a period of 6 months between established pick-up/drop off locations within MTZ 2 & 3 and the Hollywood Historic Downtown and the Beach area. e. After the Data Review, hours of operation may be adjusted as mutually agreed upon in writing by the parties. 1.9 Levels of Service Reporting a. Company to provide the city with monthly, quarterly and annual level of service and operations/financial reports for each micro-transit zone. Upon request, Company will provide the City with weekly level of service reports for each micro-transit zone. b. Data Reports to include: i. Number of parties on a daily, weekly and monthly basis ii. Number of paying customers iii. Gross/Net revenue collected for fare revenue credits iv. Number of vehicles not in operation on a daily, weekly and monthly basis v. Average wait time from request through the mobile app until arrival by assigned driver on a daily, weekly and monthly basis. vi. Average trip duration on a daily, weekly and monthly basis. vii. Pick-up and drop off location for each trip. viii. Average number of passengers per party per trip. ix. Average number of parties per trip. x. Number of passenger complaints received on a daily, weekly and monthly basis. c. Quarterly Reports d. Annual Reports                            71 City-Wide Micro-Transit Services 14 of 18 1.10 Operational/Financial Report within thirty (30) days after each month, quarter and year, as applicable Company to submit to City Operational/Financial Reports containing the following information: a. Annual budget b. Annual and monthly financial information include revenue generated (including advertisement sales and miscellaneous revenue), expenses and capital resources. 1.11 Advertisement Sales a. Company shall sell space on the exterior or interior of the vehicles for the display of commercial advertising. Advertising Revenue in the amount of $115,100.00 shall be guaranteed annually (Annual Guaranteed Amount). All Advertising Revenue collected by the Company above the Annual Guaranteed Amount will belong to the Company. Company shall credit the City’s monthly invoices for each MTZ with a prorated portion of the Annual Guaranteed Amount as shown in Exhibit E (Pricing). 1.12 Ridership Fares a. Company shall collect ridership fares for the services. b. Company shall credit the City’s monthly invoice for each micro-transit zone with 100% of the Net Fare Revenue, defined below, that is generated and collected from ridership fares. c. Net Fare Revenue means all gross ridership revenue that is collected from the passengers for the services less all costs and expenses, including but not limited to sales taxes or other taxes imposed by law, Company administrative expenses, credit card processing fees and other billing related charging by third parties imposing similar processing charges. Company will be responsible for documenting all costs and expenses and related charges associated with the Net Fare Revenue calculations.                            72 City-Wide Micro-Transit Services 15 of 18 EXHIBIT B – RFP-045-23-SK - Citywide Micro-Transit Services                            73 REQUEST FOR PROPOSAL RFP-045-23-SK CITYWIDE MICRO-TRANSIT SERVICES FOR THE CITY OF HOLLYWOOD, FLORIDA (CITY) RFP Issue Date: February 1, 2023 Questions Due Date: February 22, 2023 Submittal Due Date: March 9, 2023, 3:00 pm                            74 City of Hollywood RFP-045-23-SK CITYWIDE MICRO-TRANSIT SERVICES TABLE OF CONTENTS I. SUMMARY ............................................................................................................ II. INTRODUCTION ................................................................................................... III. SPECIAL TERMS AND CONDITIONS .................................................................. IV. SCOPE OF SERVICE ........................................................................................... V. EVALUATION CRITERIA ...................................................................................... VI. EVALUATION COMMITTEE ................................................................................. VII. GENERAL TERMS AND CONDITIONS ................................................................ VIII. PROPOSAL SUBMISSIONS ................................................................................. Attachments: A - EXHIBIT A - CSP_Routes_and_Schedules B - Exhibit B-MTZ_Zones C - Exhibit C-Pricing                            75 3 1. SUMMARY 1.1. Summary The City is seeking shared public sector transit services that offer dynamically allocated routes and schedules in response to individual or aggregate consumer demand, using smaller vehicles and capitalizing on mobile GPS and internet connectivity. The City has successfully funded the operation of a micro-transit service in the downtown and A1A corridor for the last 4 years. The micro transit services have been well accepted with increasing ridership. The Current contract is set to expire and would like the opportunity to solicit new proposals that would complement a new community shuttle service as well as expansion of the service to other areas of the City, especially west of I-95. The goal of the micro-transit service will be to transition paratransit customers by transporting them in a less expensive manner to a fixed route transfer point and/or address areas in the City with high concentrations of older and low-income residents who need access to transit. Any rider fees will be determined by the City and 100% of all net proceeds from fees generated by riders will be returned to the City in the form of a credit to each monthly invoice. The City has the right to audit the Contractor’s collection of fees. The successful Vendor/Contractor will have demonstrated demand response experience particularly in areas with no existing service. The Contractor will own or have access to a fleet of environmentally friendly and sustainable vehicles that include fully accessible minibuses with capacity between 12 and 28 passengers. Vehicles should be small enough for energy efficiency, but large enough to handle occasional larger demands (schools, employment centers, transfer stations). Smaller low speed electric vehicles may be used on smaller streets and more acceptable neighborhoods. The strategic objective of this initiative is to identify and implement a sustainable micro -transit system that moves people to and from their destination. Another strategic objective is that over time this program will transition to being fully supported by the business community in Hollywood, Hollywood Beach, and the surrounding area. 1.2. Background Currently the City plans to operate a Community Shuttle System with three fixed routes (Northwest Loop - City Hall to N. Beach Park, A1A Loop - N. Beach Park to E Hallandale Blvd. and a Southeast Loop - City Hall to Pembroke Rd.) The fixed route system is expected to be operational by mid-2023 and will provide public transportation service to improve mobility, and ease parking demand and traffic congestion. This service is funded by Broward County Transit. In addition, there are Broward County buses, routes #1, 4, 7, 9 and US1 Breeze, providing services on a daily basis. 1.3. Contact Information Simone Knight Senior Purchasing Agent Email: sknight@hollywoodfl.org Phone: (954) 921-3200                            76 4 Department: Development Services (Engineering, Building, Code Compliance, Community Development and Planning) 1.4. Timeline Release Project Date February 1, 2023 Pre-Proposal Meeting (Non- Mandatory) February 9, 2023, 10:00am Join from the meeting link https://cohfl.webex.com/cohfl/j.phpMTID=m6cb a791171165ad4ecd518f286c6c012 OR Join by meeting number Meeting number (access code): 2633 159 9680 Meeting password: 9PEjbnnYC32 OR Join from a mobile device (attendees only) +1-408-418-9388 Meeting number (access code) 2633 159 9680 Question Submission Deadline February 22, 2023, 5:00pm Proposal Submission Deadline March 9, 2023, 3:00pm                            77 5 2. INTRODUCTION 2.1. Purpose The City of Hollywood, Florida (City) is seeking responses from qualified and experienced firms, hereinafter referred to as the Contractor or Proposer, to provide Micro -transit rider services for the City, in accordance with the terms, conditions, and specifications contained in this solicitation. Responses to this solicitation are due by Thursday, March 9, 2023 at 3:00 pm, and will be opened in a virtual public setting on March 1, 2023 at 4:00PM (EST) at https://cohfl.webex.com/cohfl/j.php?MTID=m2fa08f6728891bc5bc2d389b3a3e4290 . Submittals shall be received electronically through OpenGov Procurement. Hard copy submittals will not be accepted. Submittals shall be considered an offer on the part of the bidder/proposer, which offer shall be deemed accepted upon approval of the City, and in case of default, the City reserves the right to accept or reject any or all bids/proposals, to waive irregularities and technicalities, and request new bids/proposals. The City also reserves the right to award any resulting agreement as it deems will best serve the interests of the city. 2.2. Pre-Proposal Conference and/or Site Visit (Non-Mandatory) There will be a non-mandatory pre-proposal conference and/or site visit scheduled for this solicitation. Attendance is required if the event is mandatory, and in the event that it is non- mandatory, it is strongly suggested that all Contractors attend the pre-proposal conference and/or site visit to receive information that may be critical to their understanding of this solicitation. Please keep in mind that site visits at other times might not be available. It is the sole responsibility of the Contractor to become familiar with the scope of the City’s requirements prior to submitting a proposal. No variation in price or conditions shall be permitted based upon a claim of ignorance. Submission of a proposal will be considered evidence that the Proposer has familiarized themselves with the nature and extent of the work, equipment, materials, and labor required. 2.3. OpenGov The City of Hollywood uses Opengov, the e-Procurement Portal (“Portal”) (https://procurement.opengov.com/portal/hollywoodfl/projects/36720) to administer the competitive solicitation process, including but not limited to soliciting proposals, issuing addenda, posting results and issuing notification of an intended decision. The City shall not be responsible for a Proposer’s inability to submit a proposal by the proposal end date and time for any reason, including issues arising from the use of OpenGov. 2.4. Point of Contact For information concerning procedures for responding to this solicitation, contact the Point of Contact within the Office of Procurement Services, Simone Knight, Senior Purchasing Agent at sknight@hollywoodfl.org or by phone at (954) 921-3200, or Steve Stewart, Chief Procurement Officer (CPO), at sstewart@hollywoodfl.org or by phone at (954) 921-3232. Such contact is to be for clarification purposes only. All questions must be submitted in writing via the Portal by Wednesday, February 22, 2023, by 5:00 pm, in order to receive a timely response.                            78 6 Project Manager: Solange Baquero, Administrative Specialist II, at dbaquero- meza@hollywoodfl.org or by phones at (954) 921-3900 Ext: 6641. For information concerning technical specifications, please utilize the question and answer feature provided by the Portal at https://procurement.opengov.com/portal/hollywoodfl. Questions of a material nature must be received prior to the cut-off date specified in the solicitation schedule. Material changes, if any, to the scope of services or bidding procedures will only be transmitted by written addendum. (See addendum section of the the Project Page). Proposers please note: No part of your proposal can be submitted via FAX. No variation in price or conditions shall be permitted based upon a claim of ignorance. Submission of a proposal will be considered evidence that the Proposer has familiarized themselves with the nature and extent of the work, and the equipment, materials, and labor required. The entire proposal response must be submitted in accordance with all specifications contained in this solicitation. The questions and answers submitted in the Portal shall become part of any contract that is c reated from this solicitation. It is the sole responsibility of the Proposer to ensure that their proposal is submitted electronically through the Portal. 2.5. Cone of Silence The City of Hollywood City Commission adopted Ordinance No. O-2007-05, which created Section 30.15(F) imposing a Cone of Silence for certain City purchases of goods and Services. The Cone of Silence refers to limits on communications held between vendors and vendor’s representatives and City elected officials, management and staff during the period in which a Formal Solicitation is open. The Ordinance does allow potential vendors or vendor’s representatives to communicate with designated employees for the limited purpose of seeking clarification or additional information. The names and contact information of those employees that may be contacted for clarification or additional information are included in the solicitation. The Cone of Silence does not prohibit a vendor or vendor’s representative from communicating verbally, or in writing with the City Manager, the City Manager’s designee, the City Attorney or the City Attorney’s designee on those procurement items to be considered by the City Commission. The Cone of Silence does not prohibit a vendor or vendor’s representative from making public presentations at a duly noticed pre-proposal conference or duly noticed evaluation committee meeting or from communicating with the City Commission during a duly noticed public meeting. The Cone of Silence shall be imposed when a formal competitive solicitation has been issued and shall remain in effect until an award is made, a contract is approved, or the City Commission takes any other action which ends the solicitation. To view the Cone of Silence, go to the City of Hollywood Code of Ordinance online, and view Section 30.15F. All communications regarding this solicitation should be sent in writing to the Procurement Services Division as identified in this solicitation.                            79 7 3. SPECIAL TERMS AND CONDITIONS 3.1. Addenda, Changes, and Interpretations It is the sole responsibility of each firm to notify the Point of Contact utilizing the question and answer feature provided by the Portal and request modification or clarification of any ambiguity, conflict, discrepancy, omission or other error discovered in this competitive solicitation. Requests for clarification, modification, interpretation, or changes must be received prior to the Question and Answer (Q & A) Deadline. Requests received after this date may not be addressed. Questions and requests for information that would not materially affect the scope of services to be performed or the solicitation process will be answered within the question and answer feature provided by the Portal and shall be for clarification purposes only. Material changes, if any, to the scope of services or the solicitation process will only be transmitted by an official written addendum issued by the City and uploaded to the Portal as a separate addendum to the solicitation. Under no circumstances shall an oral explanation given by any City official, officer, staff, or agent be binding upon the City and should be disregarded. All addenda are a part of the competitive solicitation documents and each firm will be bound by such addenda. It is the responsibility of each to read and comprehend all addenda issued. 3.2. Changes and Alterations Proposer may change or withdraw a proposal at any time prior to proposal submission deadline; however, no oral modifications will be allowed. Modifications shall not be allowed following the proposal deadline. 3.3. Proposer’s Costs The City shall not be liable for any costs incurred by Proposers in responding to this solicitation. 3.4. Pricing/Delivery All pricing must include delivery and installation and be quoted FOB: Destination, unless specified otherwise in #SCOPE OF SERVICE section . 3.5. Price Validity Prices provided in this solicitation shall be valid for at least One-Hundred and Twenty (120) days from time of solicitation opening unless otherwise extended and agreed upon by the City and Proposer. 3.6. No Exclusive Contract Proposer agrees and understands that the contract shall not be construed as an exclusive arrangement and further agrees that the City may, at any time, secure similar or identical services from another vendor at the City’s sole option. 3.7. Responsive In order to be considered responsive to the solicitation, the firm’s proposal shall fully conform in all material respects to the solicitation and all of its requirements, including all form and substance.                            80 8 3.8. Responsible In order to be considered as a responsible firm, firm shall be fully capable to meet all of the requirements of the solicitation and subsequent contract, must possess the full capability, including financial and technical, to perform as contractually required, and must be able to fully document the ability to provide good faith performance. 3.9. Minimum Qualifications To be eligible for award of a contract in response to this solicitation, the Proposer must demonstrate that they have successfully completed services, as specified in the #SCOPE OF SERVICE section of this solicitation, are normally and routinely engaged in performing such services, and are properly and legally licensed (if required) to perform such work. In addition, the Proposer must have no conflict of interest with regard to any other work performed by the Proposer for the City. 3.10. Award of Contract Award may be in the aggregate, or by line Item, or by group, whichever is determined to be in the best interest of the City. Award will be made to the responsive and responsible Proposer, quoting the lowest price, for that product/service that will best serve the needs of the City. The City also reserves the right to accept or reject any or all proposals, part of proposals, and to waive minor irregularities or variations to specifications contained in proposals, and minor irregularities in the bidding process. The City also reserves the right to award the contract on a split order basis, lump sum basis, individual item basis, or such combination as shall best serve the interest of the City. 3.11. Manufacturer/Brand/Model Specific Request This is a manufacturer/brand/model specification. No substitutions will be allowed unless specified in the #SCOPE OF SERVICE section. 3.12. Contract Period The initial contract term shall commence upon date of award by the City for a one (1) year term. The City reserves the right to renew the contract for three additional one-year terms, providing all terms, conditions and specifications remain the same, both parties agree to the extension, and such extension is approved by the City. In the event services are scheduled to end because of the expiration of this contract, the Contractor shall continue the service upon the request of the City as authorized by the awarding authority. The extension period shall not extend for more than 120 days beyond the expiration date of the existing contract. The Contractor shall be compensated for the service at the rate in effect when this extension clause is invoked by the City. 3.13. Warranties of Usage Any estimated quantities listed are for information and tabulation purposes only. No warranty or guarantee of quantities needed is given or implied. It is understood that the Contractor will furnish the City's needs as they arise.                            81 9 3.14. Rules and Submittals of Proposals The signer of the proposal must declare that the only person(s), company or parties interested in the proposal as principals are named therein; that the proposal is made without collusion with any other person(s), company or parties submitting a proposal; that it is in all respects fair and in good faith, without collusion or fraud; and that the signer of the proposal has full authority to bind the principal proposer. 3.15. Conflict of Interests Prohibited Any respondent submitting a response to this solicitation is responsible for being aware of, and complying with Section 34.02 of the City Code of Ordinances. If you have questions concerning whether you may or may not need to comply with the ordinance, please contact the City of Hollywood, City Clerk’s Office at 954-921-3211. 3.16. Protest Procedure Any respondent who is not recommended for award of a contract and who alleges a failure by the City to follow the City’s Procurement Code or any applicable law may protest to the CPO, by delivering a letter of protest to the CPO in accordance with Section 38.52 of the City’s Procurement Code within five days after a notice of intent to award is posted on the City’s web site, BIDSYNC, City Clerk’s Office, Open Government, and/or City’s Sunshine Board (https://www.hollywoodfl.org/Archive.aspx?AMID=140). 3.17. Insurance Requirements Contractor shall maintain, at its sole expense, during the term of this agreement the following insurances: A. Commercial General Liability Insurance naming the City as an additional insured with not less than the following limits: General Aggregate $1,000,000 Products-Comp/Op Aggregate $1,000,000 Personal and Advertising Injury $1,000,000 Each Occurrence $1,000,000 Coverage shall include contractual liability assumed under this agreement, products and completed operations, personal injury, broad form property damage, and premises- operations. B. Commercial Automobile Liability Insurance naming the City as an additional insured with not less than the following limits: Combined Single Limit $1,000,000 Coverage shall include contractual liability assumed under this agreement, owned, hired and non-owned vehicles. Worker’s Compensation:                            82 10 C. Worker’s Compensation Insurance Prior to the commencement of work governed by this contract, the contractor shall obtain Workers' Compensation Insurance with limits sufficient to respond to the applicable State statues. Limits of Liability: Statutory-State of Florida Covering the contractor and the contractor’s employees with not less than the following limits: Employers Liability: $100,000, bodily injury by accident $500,000 bodily injury by Employee $500,000 bodily injury by Policy Limit The City of Hollywood needs to be the certificate holder as per the following format: City of Hollywood (nothing else on this line) Name of Department Department Address Department Address Coverage shall be provided by a company or companies authorized to transact business in the state of Florida and the company or companies must maintain a minimum rating of A-VII, as assigned by the A.M. Best Company. Please Note: The Certificate shall contain a provision that coverage afforded under the policy will not be cancelled until at least thirty (30) days prior written notice has been given to the City. Certificates of insurance, reflecting evidence of the required insurance, shall be provided to the City. In the event the Certificate of Insurance provided indicates that the insurance shall terminate and lapse during the period of this Agreement, the vendor shall furnish, at least thirty (30) days prior to the expiration of the date of such insurance, a renewed Certificate of Insurance as proof that equal and like coverage for the balance of the period of the Agreement or extension thereunder is in effect. The insurance policy shall not contain any exceptions that would exclude coverage for risks that can be directly or reasonably related to the scope of goods or services in this bid/proposal. A violation of this requirement at any time during the term, or any extension thereof shall be grounds for the immediate termination of any contract entered in to pursuant to this bid/proposal. In order to show that this requirement has been met, along with an insurance declaration sheet demonstrating the existence of a valid policy of insurance meeting the requirements of this bid/proposal, the successful proposer must submit a signed statement from insurance agency of record that the full policy contains no such exception. The City reserves the right to require additional insurance in order to meet the full value of the contract. The City reserves the right to require any other insurance coverage it deems necessary depending upon the exposures.                            83 11 3.18. Uncontrollable Circumstances (Force Majeure) The City and Contractor will be excused from the performance of their respective obligations under this agreement when and to the extent that their performance is delayed or prevented by any circumstances beyond their control including, fire, flood, explosion, strikes or other labor disputes, acts of God or public emergency, war, riot, civil commotion, malicious damage, act or omission of any governmental authority, delay or failure or shortage of any type of transportation, equipment, or service from a public utility needed for their performance, provided that: A. The non performing party gives the other party prompt written notice describing the particulars of the Force Majeure including, but not limited to, the nature of the occurrence and its expected duration, and continues to furnish timely reports with respect thereto during the period of the Force Majeure; B. The excuse of performance is of no greater scope and of no longer duration than is required by the Force Majeure; and C. No obligations of either party that arose before the Force Majeure causing the excuse of performance are excused as a result of the Force Majeure; and D. The non-performing party uses its best efforts to remedy its inability to perform. Notwithstanding the above, performance shall not be excused under this Section for a period in excess of two (2) months, provided that in extenuating circumstances, the City may excuse performance for a longer term. Economic hardship of the Contractor will not constitute Force Majeure. The term of the agreement shall be extended by a period equal to that during which either party's performance is suspended under this Section. 3.19. Supplier Portal (Oracle) Payment Method The City has implemented software that contains a supplier portal allowing suppliers to submit and update their information via the supplier portal. New suppliers will be required to register; and current suppliers will need to confirm and update their information. Firms are responsible for ensuring that all contact, payment, and general information is updated at all times, and will not hold the City liable for any inaccurate information. 3.20. Debarred or Suspended Bidders or Proposers Firm(s) certifies, by submission of a response to this solicitation, that neither it nor its principals and subcontractors are presently debarred or suspended by any federal, state, county or municipal department or agency. 3.21. Public Records/Trade Secrets/Copyright All responses will become the property of the City. The Consultant’s response to the solicitation is a public record pursuant to Florida law and is subject to disclosure by the City pursuant to Chapter 119.07, Florida Statutes (“Public Records law”). The City shall permit public access to all documents, papers, letters or other material submitted in connection with this solicitation and the Contract to be executed for this solicitation, subject to the provisions of Chapter 119, Florida Statutes.                            84 12 Any language contained in the Consultant’s response to the solicitation purporting to require confidentiality of any portion of the Consultant’s response to the solicitation, except to the extent that certain information is in the City’s opinion a Trade Secret pursuant to Florida law, shall be void. If a Consultant submits any documents or other information to the City that the Consultant claims is Trade Secret information and exempt from Florida Statutes Chapter 119.07 (“Public Records Laws”), the Consultant shall clearly designate that it is a Trade Secret and that it is asserting that the document or information is exempt. The Consultant must specifically identify the exemption being claimed under Florida Statutes 119.07. The City shall be the final arbiter of whether any information contained in the Consultant’s response to the solicitation constitutes a Trade Secret. The City’s determination of whether an exemption applies shall be final, and the Consultant agrees to defend, indemnify, and hold harmless the City and the City’s officers, employees, and agent, against any loss or damages incurred by any person or entity as a result of the City’s treatment of records as public records. In the event of Contract award, all documentation produced as part of the Contract shall become the exclusive property of the City. Proposals purporting to be subject to copyright protection in full or in part will be rejected. EXCEPT FOR CLEARLY MARKED PORTIONS THAT ARE BONA FIDE TRADE SECRETS PURSUANT TO FLORIDA LAW, DO NOT MARK YOUR RESPONSE TO THE SOLICITATION AS PROPRIETARY OR CONFIDENTIAL. DO NOT MARK YOUR RESPONSE TO THE SOLICITATION OR ANY PART THEREOF AS COPYRIGHTED. 3.22. PUBLIC RECORDS GENERAL Consultant shall: A. Keep and maintain public records that ordinarily and necessarily would be required by the City in order to perform the service. B. Upon request from the City’s custodian of public records, provide the City 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 Chapter 119, Florida Statutes. 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 this contract if the Consultant does not transfer the records to the City. D. Upon completion of the Contract, transfer, at no cost, to the City all public records in possession of the Consultant or keep and maintain public records required by the City to perform the service. If the Consultant transfers all public records to the City upon completion of this Contract, the Consultant shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. If the Consultant keeps and maintains public records upon completion of this Contract,                            85 13 the Consultant shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the City, upon request from the City’s custodian of public records, in a format that is compatible with the information technology systems of the City. It is solely and exclusively the Contractor’s responsibility to familiarize itself with Chapter 119, Florida Statutes, and to ensure compliance with its requirements. 3.23. Tie Breaker In cases where there is a tie for the bid award, the award shall be made by giving preference to the low bidder(s) with the following items (in this order): • (1) maintenance of a drug-free workplace in accordance with the requirements of Florida Statutes Section 287.087, • (2) local Hollywood vendor preference, • (3) closest proximity/location to project site or City Hall, and/or • (4) minority-owned or disadvantaged business status. If a tie still exists after the aforementioned tiebreakers are utilized, the Chief Procurement Officer will make a recommendation for award among the tied bidders.                            86 14 4. SCOPE OF SERVICE 4.1. Project Description The successful Vendor/Contractor will provide a year-round micro-transit program that provides connectivity to the Community Shuttle Program (CSP), this includes areas along the US 1/Federal Highway Corridor, Historic Downtown, and Hollywood Beach areas. In addition, the service will provide connectivity to various points of interest and Transportation hubs in areas west of the City designated as micro-transit zones. The service must be reliable, predictable and easy to access. Program may include supplementary service during special events requiring vehicles, personnel and resources. Circulator services may also expand to other areas of the City to support mobility options and reduction of traffic congestion as determined by the City and City Redevelopment Agency (CRA). The applicant should provide as part of their proposal a tentative schedule of service based on their experience in similar markets and assessment of demand in the area. This schedule is subject to change and be modified depending on the needs and conditions determined by the City/CRA. 4.2. Technical Specifications The use of environmentally friendly vehicles is preferred and must meet required ADA accessibility standards. The Contractor will provide the necessary vehicles, staff, and resources to service the estimated schedule in Exhibit A - CSP Routes and Schedules throughout the term of the contract. There is no need to have vehicles equipped with GPS units although it is preferred. The Contractor shall provide professional, experienced, well-groomed hospitality-oriented personnel and resources to communicate engagingly with riders while answering their questions. Personnel must hold the required, up-to-date applicable licenses, if required, have a clean driving record and be comfortable speaking knowledgably about the City/CRA as a visitor destination. The ability to converse in English is required. Bilingual drivers and other languages (French and Spanish) is desirable, but not required. All drivers must participate in a Florida Department of Transportation (FDOT) approved drug testing program. The City/CRA reserves the right to require the immediate dismissal of any personnel who fail to meet the standard outlined above. Relief personnel shall be readily available and provided by the Vendor throughout the term of the contract. The Contractor will ensure that all personnel assigned to this program wear professional, standardized, uniforms that are clean and well-pressed at all times. The Contractor will be responsible for appropriate storage, maintenance, and operational safety of all vehicles provided for this effort. The Contractor will be responsible for replacing vehicles that break down or have mechanic problems at no extra cost to the City/ CRA. The replacement should be addressed during shift when possible but no longer than 12-24 hours from the time of the event. In the event a vehicle needs to be replaced, such replacement vehicle shall match wrapping and conditions of the vehicle that needs repairs.                            87 15 Applicants are encouraged to provide risk mitigation plans below for different time frames for vehicles to be out of service (i.e., one day, one week, one month) The Contractor will a provide a secure website and cell phone application that allows users to quickly locate and secure a ride. The application should be downloadable from the Apple Store or Play Store. The website and cell phone application should also have the ability to charge a fee for service via secure encrypted credit card payments. 4.3. Contractor Qualifications The Contractor shall submit a listing of work experience for projects similar in scope and nature to the work described in the Scope of Work. A minimum of five (5) years' experience and at least two (2) projects (preferably with a government entity) shall be submitted and include a description of the work, project value, value of the work performed by the Contractor, and work duration. The Contractor shall provide the requirements/certifications/training requirements for their drivers. NOTE: The minimum requirement by the City is that all drivers must be enrol led in an approved FDOT drug testing program and have passed a drug screening test, have the required FL driver license, and a favorable background investigation. 4.4. Deliverables and Objectives The following deliverables are required: A. Auditing tools to track vehicle usage and gross/net revenues from passenger fees and advertising. Generation of monthly reports that provide ridership totals, service heat maps with micro-transit zone usage, demand and capability analytics. In addition, reports shall contain driver performance metrics such as riders per hour, wait times, and the number of missed pick-ups. B. Reliable Transit Program. Documented daily vehicle safety inspections prior to start of day, and a documented preventive maintenance program. Reporting frequency will be determined between the City/CRA and the Contractor's ridership totals. C. Risk Mitigation Plan. A written plan that addresses risks associated with the operation of the micro transit program and mitigation strategies that will be used by the Contractor to minimize risk. D. Maintenance/Recovery Plan. The Contractor shall provide their maintenance plan and recovery plan to keep the vehicles in circulation at all times with no interruptions. 4.5. Project Area There are three (3) Micro-Transit Zones (MTZ). Each MTZ will be finalized following award and may be modified based on ridership and need. Each MTZ is described in the attached Exhibit B - MTZ Zones. 4.6. Schedule of Performance The applicant will provide a tentative schedule of service based on their experience in similar markets. This schedule is subject to change and be modified depending on the needs and conditions determined by the City/CRA and provider. Offerors are encouraged to provide service connecting downtown and the beach and must provide adequate description on how the service will do this and overcome challenges.                            88 16 4.7. Advertising and Revenue Sharing ADVERTISEMENT SALES SERVICES. (a) The Contractor will sell space upon its vehicles for the display of commercial advertising. The purpose is to raise revenues to partially finance the operation of the micro-transit services. (b) The Contractor will pay to the City 50% of the Net Advertising Revenue received by the Contractor in connection with all (i) exterior advertising sales; (ii) interior video advertising sales; (iii) event marketing campaign sales; and (iv) marketing efforts for advertising sales (collectively, the “Advertisement Sales Services” and the advertisements so sold, the “Advertisements”). Net Advertising Revenue means the gross advertising revenue received less all-other costs and expenses, including but not limited to advertisement design and production costs, incurred by the Company in connection with providing the Advertisement Sales Services. (c) The Contractor shall determine the methods, details, and means for performing the Advertisement Sales Services. The Contractor will not accept advertising content that includes or is related to the below (1-7) without the prior written approval from the City. 1. Discriminates against a person or section of the community on account of race, sex, age, sexual preference, religion, disability, sexual orientation or political belief. 2. Contains strong or obscene language. 3. Promotes or opposes tobacco or alcohol products and controlled substances. 4. Contains sexual or reproductive material, 5. Promotes or opposes “adult entertainment” strip clubs and/or the sale of pornographic materials. 6. Promotes the sale or distribution of firearms. 7. Contravenes any applicable law. (d) The Contractor shall invoice each such advertiser for amounts owed for Advertisement Sales Services. The Contractor shall provide a service credit in the amount of 50% of the Net Advertising Revenue to the City on the following month’s submitted invoice after receipt by the Contractor of the amounts due from each advertiser. The Contractor must submit proof of invoices for amounts owed to Contractor for Advertisement Sales Services, during each advertisement period, whether or not invoiced funds are actually received by the Contractor. Example: For illustration purposes, the Contractor submits an invoice to a Media Buyer in the amount due of $25,000.00 for Advertisement Sales Service on January 2023 and the funds were r eceived from that Media Buyer during the month of March 2023. The Contractor will provide a service credit to the City in the amount of $12,500.00 on the April 2023 invoice.                            89 17 5. EVALUATION CRITERIA A Selection Committee will review and evaluate submittals to determine if they meet all of the requirements in this solicitation to be deemed responsive and responsible. The following evaluation criteria will be used to evaluate and score each submittal: No. Evaluation Criteria Scoring Method Weight (Points) 1. Approach and Methodology The Contractor shall explain in detail how their company can meet the requirements of the work outlined in the SOW, provide a timeline/plan-of-action detailing each phase for this effort, provide an organization chart detailing the labor for this effort, provide the recruiting effort for maintaining qualified drivers, and detail the numbers and types of vehicles provided and how they will include additional vehicles if the City expands the routes. Points Based 15 (14.3% of Total) 2. Environmental Benefits The Contractor shall provide details and quantify any environmental benefits or sustainability initiatives that they will use for this effort. Points Based 10 (9.5% of Total) 3. Contractor Capabilities The Contractor shall provide overall organizational and financial capabilities and other key components to include organizational reporting structure, quality control, quality assurance, research and development, technical training and parts support, response time, product capabilities, and the ability to furnish multiple vehicle configurations. The Contractor shall provide a general description of the company, including annual revenue, facilities location, number of permanent and part-time employees, and current and project workload. This description is intended to provide information to the City of Hollywood to evaluate the capability and capacity of the Contractor to perform the work. The City of Hollywood may conduct a site-visit of the Contractor's facility during the evaluation process. Points Based 10 (9.5% of Total)                            90 18 4. Driver's Qualifications The Contractor shall provide the requirements/certifications/training requirements for their drivers. NOTE: minimum requirement by the City is that all drivers must be enrolled in an FDOT approved drug testing program, pass a drug screening test, have the appropriate FL driver's license, and have a favorable background investigation. Points Based 10 (9.5% of Total) 5. Firm's Qualifications and Experience The Contractor shall submit a listing of work experience for projects similar in scope and nature to the work described in the Scope of Work. A minimum of five years (5) experience and two (2) projects (preferably with a government entity) shall be submitted and include a description of the work, project value, value of the work performed by the Contractor, and work duration and dates. The Contractor must submit at least three (3) references for projects of similar size, scope, and complexity. The references will be reviewed and scored as to whether services performed were satisfactory and meet the aforementioned criteria. Points Based 10 (9.5% of Total) 6. ADA Compliance The Contractor shall provide details on how their proposed vehicles meet ADA accessibility requirements. Points Based 5 (4.8% of Total) 7. Maintenance/Recovery Plan The Contractor shall provide their maintenance plan and recovery plan to keep the vehicles in circulation at all times with no interruptions. The Contractor must also provide a response to this scenario: A vehicle breaks down in the middle of the afternoon (weekday) and the current outside temperature is 95 degrees Fahrenheit. The vehicle has a mixture of passengers: elderly, middle aged, children, and infants. Explain the Contractor's course of action that would be taken. Points Based 10 (9.5% of Total)                            91 19 8. Risk Mitigation Plan The contractor must provide a risk mitigation plan on potential risks that may occur with this service and the steps they will take to mitigate/reduce the risk level. Points Based 10 (9.5% of Total) 9. Local Vendor Preference If applicable, the local Hollywood Vendor/Contractor shall have the burden of demonstrating that it maintains a permanent place of business with full-time employees within the City limits and has done so for a minimum of one year prior to the date of issuance of a bid or proposal solicitation within Hollywood, Florida. All supporting documentation (e.g., City valid local business tax receipt) for local preference eligibility must be received with the bid package prior to the bid opening date and time. Points Based 5 (4.8% of Total) 10. Pricing The Contractor must provide a Fixed Pricing Rate for this Service to include all direct and indirect costs in fixed monthly rates for this effort. The price for each offeror will be compared against the values assigned the various elements of the technical proposal. The objective of this process is to obtain the best available combination of technical capability and price. Points Based 20 (19% of Total)                            92 20 6. EVALUATION COMMITTEE Each Selection Committee member will convert their maximum available point score (cardinal number) for each Submitter into an ordinal number designating the ranking (as first, second, or third. For example: The ordinal scores from each Selection Committee member for each Submitter shall be added together to calculate a total ordinal score. The Submitter with the lowest ordinal score will be ranked highest for award preference. The Submitter with the second lowest total ordinal score will be ranked second highest for award preference, and so on, until all Submitters are ranked. During the evaluation process, the Selection Committee may, at its discretion, request oral presentations from banks to clarify information or answer questions on submittals. A public Selection Committee meeting to complete this evaluation is anticipated to take place in March 2023 followed by City Commission approval of an award tentatively scheduled for May 2023. Selection Committee meeting notices shall be posted on the City’s Sunshine Board (https://www.hollywoodfl.org/Archive.aspx?AMID=140).                            93 21 7. GENERAL TERMS AND CONDITIONS 7.1. INTENT It is the policy of the City to encourage full and open competition among all available qualified vendors. All vendors regularly engaged in the type of Work specified in the Solicitation are encouraged to submit proposals. To receive notification and to be eligible to bid vendor should be registered with OpenGov. Vendors may register with the OpenGov (registration is free) to be included on a mailing list for selected categories of goods and Services. In order to be processed for payment, any awarded vendor must register with the City by completing and returning a Vendor Application and all supporting documents. For information and to apply as a vendor, please visit our website at hollywoodfl.org to download an application and submit it to Procurement Services Division. It is the intent of the City of Hollywood, FL (“the City”), through this solicitation and the contract conditions contained herein, to establish to the greatest possible extent complete clarity regarding the requirements of both parties to the agreement resulting from this solicitation. Before submitting a bid/proposal, the Vendor shall be thoroughly familiarized with all contract conditions referred to in this document and any addenda issued before the bid/proposal submission date. Such addenda shall form a part of the SOLICITATION and shall be made a part of the contract. It shall be the Vendor's responsibility to ascertain that the bid/proposal includes all addenda issued prior to the bid/proposal submission date. Addenda will be posted on the City's Procurement Portal along with the SOLICITATION. The terms of the SOLICITATION and the selected Vendor’s bid/proposal and any additional documentation (e.g. questions and answers) provided by the Vendor during the solicitation process will be integrated into the final contract for services entered into between the City and the selected Vendor. The Vendor shall determine, by personal examination and by such other means as may be preferred, the conditions and requirements under which the agreement must be performed. 7.2. PROPOSER’S RESPONSIBILITIES Proposers are required to submit their bids/proposals upon the following express conditions: A. Proposers shall thoroughly examine the drawings, specifications, schedules, instructions and all other contract documents. B. Proposers shall make all investigations necessary to thoroughly inform themselves regarding delivery of material, equipment or services as required by the SOLICITATION conditions. No plea of ignorance, by the proposer, of conditions that exist or that may hereafter exist as a result of failure or omission on the part of the proposer to make the necessary examinations and investigations, or failure to fulfill in every detail the requirements of the contract documents, will be accepted as a basis for varying the requirements of the City or the compensation due the proposer.                            94 22 C. Proposers are advised that all City contracts are subject to all legal requirements provided for in the City of Hollywood Charter, Code of Ordinances and applicable County Ordinances, State Statutes and Federal Statutes. 7.3. PREPARATION OF BIDS/PROPOSALS Bids/proposals will be prepared in accordance with the following: A. The City’s enclosed bid/proposal Forms, in their entirety, are to be used in submitting your bid/proposal. NO OTHER FORM WILL BE ACCEPTED. B. All information required by the bid/proposal form shall be furnished. The proposer shall sign each continuation sheet (where indicated) on which an entry is made. C. Prices shall be shown and where there is an error in the extension of prices, the unit price shall govern. The City of Hollywood is exempt from payment to its vendors of State of Florida sales tax and, therefore, such taxes should not be figured into the SOLICITATION. However, this exemption does not apply to suppliers to the City in their (supplier) purchases of goods or services, used in work or goods supplied to the City. Proposers are responsible for any taxes, sales or otherwise, levied on their purchases, subcontracts, employment, etc. An exemption certificate will be signed where applicable, upon request. The City will pay no sales tax. 7.4. DESCRIPTION OF SUPPLIES Any manufacturer's names, trade names, brand names, or catalog numbers used in these applications are for the purpose of describing and establishing minimum requirements or level of quality, standards of performance, and design required, and are in no way intended to prohibit the bidding of other manufacturers' items of equal material, unless specifications state "NO SUBSTITUTIONS." Proposers must indicate any variances to the specifications, terms, and conditions, no matter how slight. If variations are not stated in the bid/proposal, it shall be construed that the bid/proposal fully complies with the Specifications, Terms and Conditions. Proposers are required to state exactly what they intend to furnish; otherwise they sh all be required to furnish the items as specified. Proposers will submit, with their bid/proposal, necessary data (factory information sheets, specifications, brochures, etc.) to evaluate and determine the quality of the item(s) they are proposing. The City shall be the sole judge of equality and its decision shall be final. 7.5. ADDENDA The Procurement Services Division may issue an addendum in response to any inquiry received, prior to bid/proposal opening, which changes, adds to or clarifies the terms, provisions or requirements of the solicitation. The Proposer should not rely on any representation, statement or explanation, whether written or verbal, other than those made in this solicitation document or in any addenda issued. Where there appears to be a conflict between this solicitation and any                            95 23 addendum, the last addendum issued shall prevail. It is the proposer’s responsibility to ensure receipt of all addenda and any accompanying documents. Proposer(s) shall acknowledge receipt of any formal Addenda by signing the addendum and including it with their bid/proposal. Failure to include signed formal addenda in its bid/proposal shall cause the City to deem the bid/proposal non-responsive provided, however, that the City may waive this requirement in its best interest. 7.6. REJECTION OF BIDS/PROPOSALS The City may reject a bid/proposal if: A. The Proposer fails to acknowledge receipt of an addendum, or if B. The Proposer misstates or conceals any material fact in the bid/proposal, or if C. The bid/proposal does not strictly conform to the law or requirements of the SOLICITATION, or if D. The City is under a pre-lawsuit claim or current litigation with the proposer. The City may reject all bids/proposals whenever it is deemed in the best interest of the City to do so, and may reject any part of a bid/proposal unless the bid/proposal has been qualified as provided in herein. 7.7. WITHDRAWAL OF BIDS/PROPOSALS A. May not be withdrawn and shall be deemed enforceable for a period of 180 days after the time set for the SOLICITATION opening. B. Bids/proposals may be withdrawn prior to the time set for the SOLICITATION opening via the Portal. C. The City will permanently retain as liquidated damages the bid deposit furnished by any proposer who requests to withdraw a bid/proposal after the SOLICITATION opening. 7.8. BIDS/PROPOSALS TO REMAIN OPEN All bids/proposals shall remain open for 180 calendar days after the day of the bid/proposal opening, but the City may, at its sole discretion, release any bid/proposal and return the bid/proposal Security prior to that date. Extensions of time when bids/proposals shall remain open beyond the 180 day period may be made only by mutual written agreement between the City, the successful Proposer and the surety, if any, for the successful Proposer. 7.9. LATE BIDS/PROPOSALS OR MODIFICATIONS Only bids/proposals received as of the opening date and time will be considered timely. Bids/proposals and modifications received after the time set for the opening will be returned un- opened to the sender and rejected as late. 7.10. CONFLICTS WITHIN THE SOLICITATION Where there appears to be a conflict between the General Terms and Conditions, Special Conditions, the Technical Specifications, the SOLICITATION Submittal Section, or any                            96 24 addendum issued, the order of precedence shall be the last addendum issued, the SOLICITATION Submittal Section, the Technical Specifications, the Special Conditions, and then the General Terms and Conditions. 7.11. CLARIFICATION OR OBJECTION TO BID/PROPOSAL SPECIFICATIONS If any person contemplating submitting a bid/proposal for this contract is in doubt as to the true meaning of the specifications or other SOLICITATION documents or any part thereof, they may submit requests for clarification to the Procurement Services Division on or before the date specified for a request for clarification. All such requests for clarification shall be made in writing and the person submitting the request will be responsible for its prompt delivery. Any interpretation of the SOLICITATION, if made, will be made only by Addendum duly issued. A copy of such Addendum will be made available to each person receiving a Solicitation. The City will not be responsible for any other explanation or interpretation of the SOLICITATION given prior to the award of the contract. Any objection to the specifications and requirements as set forth in this SOLICITATION must be filed in writing with the Chief Procurement Officer on or before the date specified for a request for clarification. 7.12. COMPETENCY OF PROPOSERS Pre-award inspection of the Proposer’s facility may be made prior to the award of a contract. Bids/proposals will be considered only from firms which are regularly engaged in the business of providing the goods and/or services as described in this SOLICITATION(s); have a record of performance for a reasonable period of time; and have sufficient financial support, equipment and organization to ensure that they can satisfactorily deliver the material and/or services if awarded a Contract under the terms and conditions herein stated. The terms "equipment and organization" as used herein shall be construed to mean a fully equipped and well established company in line with the best business practices in the industry and as determined by the proper authorities of the City. The City may consider any evidence available to it of the financial, technical and other qualifications and abilities of a proposer, including past performance (experience) in making the award in the best interest of the City. In all cases the City of Hollywood shall have no liability to any proposer for any costs or expense incurred in connection with this SOLICITATION or otherwise. 7.13. QUALIFICATIONS OF PROPOSERS No Bid/proposal will be accepted from, nor will any contract be awarded to any person who is in arrears to the City upon any debt or contract, or who is a defaulter, as surety or otherwise, upon any obligation to City, or who is deemed responsible or unreliable by the City. As part of the bid/proposal evaluation process, City may conduct a background investigation including a record check by the Hollywood Police Department. Proposer’s submission of a bid/proposal constitutes acknowledgment of the process and consent to such investigation. City shall be the sole judge in determining a Proposer’s qualifications.                            97 25 7.14. CONSIDERATION OF BIDS/PROPOSALS In cases where an item requested is identified by a manufacturer's name, trade name, catalog number, or reference, it is understood that the Vendor proposes to furnish the item so identified and does not propose to furnish an "equal" unless the proposed "equal" is pre-approved by the City. References to any of the above are intended to be descriptive but not restrictive and only indicate articles that will be satisfactory. A bid/proposal of an "equal" will be considered, provided that the Vendor states in his bid/proposal exactly what he proposes to furnish, including sample, illustration, or other descriptive matter which will clearly indicate the character of the article covered by such bid/proposal. The designated City representative hereby reserves the right to approve as an “equal”, or to reject as not being an “equal”, any article proposed which contains major or minor variations from specifications requirements. 7.15. AWARD OF CONTRACT If the Contract is to be awarded, it will be awarded, after evaluation by the City, to the responsible and responsive Proposer whom the City determines will be in the best interests of the City and not necessarily to the lowest cost Proposer. Proposers may be invited to an oral interview before the committee. A short list of finalists will be determined and presented to either the City Manager or his/her designee or to the City Commission, in accordance with the applicable City of Hollywood Code of Ordinances, and will make the final ranking for the purposes of negotiating a contract with the top ranked firm. The successful Proposer shall be required to sign a negotiated contract; the refusal or failure of a successful Proposer to execute a contract which contains the mandatory material terms and conditions contained in the SOLICITATION, shall be grounds for deeming the Proposer and/or the Proposer’s bid/proposal non-responsive. If applicable, the Proposer to whom award is made shall execute a written contract prior to award by the City Commission. If the Proposer to whom the first award is made fails to enter into a contract as herein provided, the Contract may be let to the next highest ranked Proposer who is responsible and responsive in the opinion of the City. 7.16. BASIS FOR AWARD, EVALUATION CRITERIA AND QUESTIONS The qualification of bid/proposal responders on this project will be considered in making the award. The City is not obligated to accept any bid/proposal if deemed not in the best interest of the City to do so. The City shall make award to a qualified proposer based on fees submitted and responses to this SOLICITATION. Failure to include in the bid/proposal all information outlined herein may be cause for rejection of the bid/proposal. The City reserves the right to accept or reject any and all bids/proposals, in whole or in part, as determined to be in the best interest of the City in its sole discretion. The City reserves the right to waive any informalities or irregularities in bids/proposals. The City reserves the right to negotiate separately the terms and conditions or all or any part of the bids/proposals as deemed to be in the City’s best interest in its sole discretion.                            98 26 Information and/or factors gathered during interviews, negotiations and any reference checks, and any other information or factors deemed relevant by the City, shall be utilized in the final award. The final award of a contract is subject to approval by the City Commission. 7.17. AGREEMENT An agreement shall be sent to the awarded proposer to be signed, witnessed, and returned to the City for execution. The City will provide a copy of the fully executed agreement to the awarded proposer. 7.18. NOTICE TO PROCEED A signed purchase order, blanket purchase order or fully executed agreement will be the Proposer's authorization to proceed and may substitute for a "Notice to Proceed" form. 7.19. BID PROTESTS The City shall provide notice of its intent to award or reject to all proposers by posting such notice on the City’s website. After a notice of intent to award a contract is posted, any actual or prospective proposer who is aggrieved in connection with the pending award of the contract or any element of the process leading to the award of the contract may protest to the Director of Procurement Services. A protest must be filed within five business days after posting or any right to protest is forfeited. The protest must be in writing, must identify the name and address of the protester, and must include a factual summary of, and the basis for, the protest. Filing shall be considered complete when the protest, including a deposit, is received by the Procurement Services Division. Failure to file a protest within the time-frame specified herein shall constitute a full waiver of all rights to protest the City’s decision regarding the award. The written protest shall state in detail the specific facts and law or ordinance upon which the protest of the proposed award is based, and shall include all pertinent documents. A written protest may not challenge the relative weight of evaluation criteria or a formula for assigning points. Upon receipt of a formal written protest, the City shall stop award proceedings until resolution of the protest; unless it has been determined that the award of the contract without delay is necessary to protect substantial interests of the City. Any and all costs incurred by a protesting party in connection with a bid protest shall be the sole responsibility of the protesting party. Upon receipt of a protest of the pending award of a contract, a copy of the protest shall promptly be forwarded to the City Attorney. The City Attorney shall thereupon review the charge to determine its sufficiency, including whether the protest was timely filed. If upon review the City Attorney determines that the charge is insufficient, the City Attorney may issue a summary dismissal of the protest. If upon review the City Attorney determines that the charge is sufficient, a hearing of the protest committee shall be scheduled.                            99 27 A protest committee shall have the authority to review, settle and resolve the protest. The committee shall consist of three members appointed by the City Manager. The committee’s review shall be informal. If the protest committee determines that the pending award of a contract or any element of the process leading to the award involved a significant violation of law or applicable rule or regulation, all steps necessary and proper to correct the violation shall be taken. If the committee determines that the protest is without merit, The Director shall promptly issue a decision in writing stating the reason for the decision and furnish a copy to the protester and any other interested party, and the process leading to the award shall proceed. 7.20. PREPARATION OF BIDS/PROPOSALS Bids/proposals shall be prepared in accordance with the bid/proposal response format. Bids/proposals not complying with this format may be considered non-responsive and may be removed from consideration on this basis. Requirements for Signing Bid/Proposal: A. Each proposer, by making a bid/proposal, represents that this document has been read and is fully understood. B. The bid/proposal must be signed in ink by an individual authorized to legally bind the person, partnership, company, or corporation submitting the bid/proposal. C. All manual signatures must have the name typed directly under the line of the signature. D. The above requirements apply to all SOLICITATION addenda. 7.21. EXAMINATION OF BID/PROPOSAL DOCUMENTS Before submitting a bid/proposal, each Proposer must: examine the bid/proposal Documents thoroughly; consider federal, state and local laws, ordinances, rules and regulations that may in any manner affect cost, progress, performance, or provision of the commodities and/or services; study and carefully correlate Proposer’s observations with the bid/proposal Documents, and notify the City’s agent of all conflicts, errors and discrepancies in the bid/proposal Documents. The submission of a bid/proposal will constitute an incontrovertible representation by the Proposer, that the Proposer has complied with every requirement of this SOLICITATION, that without exception, the bid/proposal is premised upon performing the services and/or furnishing the commodities and materials in accordance with such means, methods, techniques, sequences or procedures as may be indicated in or required by the bid/proposal Documents, and that the bid/proposal Documents are sufficient in scope and detail to indicate and convey understanding of all terms and conditions of performance and furnishing of the goods and/or services. 7.22. PUBLIC RECORDS LAW If applicable, for each public agency contract for services, the Proposer is required to comply with F.S. 119.0701, which includes the following:                            100 28 A. Keep and maintain public records that ordinarily and necessarily would be required by the public agency in order to perform the service. B. Provide the public with access to public records on the same terms and conditions that the public agency would provide the records and at a cost that does not exceed the cost provided in F.S. Chapter 119 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. D. Meet all requirements for retaining public records and transfer, at no cost, to the public agency, 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 from public records disclosure requirements. All records stored electronically must be provided to the public agency in a format that is compatible with the information technology systems of the public agency. Public records may be inspected and examined by anyone desiring to do so, at a reasonable time, under reasonable conditions, and under supervision by the custodian of the public record. Sealed Bids/proposals become subject to the public records disclosure requirements of F.S. Chapter 119, notwithstanding a proposers' request to the contrary, at the time the City provides notice of a decision or intended decision, or 30 days after the bid/proposal opening, whichever is earlier. Financial statements submitted in response to a request by the City may be confidential and exempt from disclosure. Data processing software obtained under a licensing agreement which prohibits its disclosure may also exempt. Proposers are hereby notified and agree that all information submitted as part of, or in support of SOLICITATION submittals will be available for public inspection after opening of SOLICITATION in compliance with Chapter 119 of the Florida Statutes. The proposer shall not, unless required as part of this SOLICITATION, submit any information in response to this invitation which the proposer considers to be a trade secret, proprietary or confidential. The submission, not required as part of this this SOLICITATION, of any information to the City in connection with this invitation shall be deemed conclusively to be a waiver of any trade secret or other protection, which would otherwise be available to the proposer. 7.23. INFORMATION For information concerning procedure for responding to this Solicitation (SOLICITATION), contact the Point of Contact in the #INTRODUCTION section. Such contact shall be for clarification purposes only. It is preferred that all other questions be submitted in writing via the Portal at least 10 calendar days prior to the bid/proposal due/opening date.                            101 29 7.24. BIDS/PROPOSALS The bid/proposal must be signed by one duly authorized to do so and in cases where the bid/proposal is signed by a deputy or subordinate, the principal’s proper written grant of authority to such deputy or subordinate must accompany the bid/proposal. Bids/proposals by corporations must be executed in the corporate name by the President or other corporate officers accompanied by evidence of authority to sign. The corporate address and state of incorporation must be shown below the signature. Bids/proposals by partnerships must be executed in the partnership name and signed by a general partner whose title must appear under the signature and the official address of the partnership must be shown below the signature. 7.25. MODIFICATION AND WITHDRAWAL OF BIDS/PROPOSALS Bids/proposals must be modified or withdrawn electronically via the Portal. A request for withdrawal or a modification must be via the Portal by a person duly authorized to do so. Withdrawal of a bid/proposal will not prejudice the rights of a Proposer to submit a new bid/proposal prior to the bid/proposal date and time. Except where provided in the following paragraph no bid/proposal may be withdrawn or modified after expiration of the period for receiving bids/proposals. If, within twenty-four (24) hours after bids/proposals are opened, any Proposer files a duly signed written notice with the City and within five (5) calendar days thereafter demonstrates to the reasonable satisfaction of the City by clear and convincing evidence that there was a material and substantial mistake in the preparation of its bid/proposal, or that the mistake is clearly evident on the face of the bid/proposal but the intended correct bid/proposal is not similarly evident, then the Proposer may withdraw its bid/proposal and the bid/proposal Security will be returned. 7.26. REJECTION OF BIDS/PROPOSALS To the extent permitted by applicable state and federal laws and regulations, the City reserves the right to reject any and all bids/proposals, to waive any and all informalities, irregularities and technicalities not involving price, time or changes in the commodities and/or services, and the right to disregard all nonconforming, non-responsive, unbalanced or conditional bids/proposals. Bids/proposals will be considered irregular and may be rejected if they show serious omissions, alterations in form, additions not called for, conditions or unauthorized alterations or irregularities of any kind. The City also reserves the right to waive minor technical defects in a bid/proposal. The City reserves the right to determine, in its sole discretion, whether any aspect of a bid/proposal satisfies the criteria established in this Solicitation. The City reserves the right to reject the bid/proposal of any Proposer if the City believes that it would not be in the best interest of the City to make an award to that Proposer, whether because the bid/proposal is not responsive or the Proposer is unqualified or of doubtful financial ability or fails to meet any other pertinent standard or criterion established by City. The foregoing reasons for rejection of bids/proposals are not intended to be exhaustive.                            102 30 7.27. OPEN END CONTRACT No guarantee is expressed or implied as to the total quantity of commodities/services to be purchased under any open end contract. Estimated quantities will be used for bid/proposal comparison purposes only. The City reserves the right to issue purchase orders as and when required, or a blanket purchase order and release partial quantities as and when required or any combination of the preceding. ORDERING: The CITY reserves the right to purchase commodities/services specified herein through Contracts established by other governmental agencies or through separate procurement actions due to unique or special needs. If an urgent delivery is required within a period shorter than the delivery time specified in the contract, and if the seller is unable to comply therewith, the City reserves the right to obtain such delivery from others without penalty or prejudice to the City or to the Proposer. 7.28. AUDIT RIGHTS The City reserves the right to audit the records of the successful Proposer for the commodities and/or services provided under the Contract at any time during the performance and term of the Contract and for a period of three (3) years after completion and acceptance by the City. If required by the City, the successful Proposer agrees to submit to an audit by an independent certified public accountant selected by the City. The successful Proposer shall allow the City to inspect, examine and review the records of the successful Proposer in relation to this contract at any and all times during normal business hours during the term of the Contract. 7.29. LOCAL, STATE AND FEDERAL COMPLIANCE REQUIREMENTS The Proposer shall comply with all local, state and federal directives, orders and laws as applicable to this SOLICITATION and subsequent contract(s) including, but not limited to: A. Equal Employment Opportunity (EEO), in compliance with Executive Order 11246 as amended and applicable to this contract. B. All manufactured items and fabricated assemblies shall comply with applicable requirements of the Occupation Safety and Health Act of 1970 as amended, and be in compliance with Chapter 442, Florida Statutes. Any toxic substance listed in Section 38F-41.03 of the Florida Administrative Code delivered as a result of this order must be accompanied by a completed Material Safety Data Sheet (MSDS). C. The Immigration and Nationality Act prohibits (i) the employment of an unauthorized alien when the employer knows the individual is an unauthorized alien and (ii) the employment of an individual without complying with the requirements of the federal employment verification system. If a proposer commits either of these violations, such violation shall be cause for unilateral cancellation of the contract. D. This Section applies only to any contract for goods or services of $1 million or more: The Proposer certifies that it is not on the Scrutinized Companies with Activities in Sudan List or the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List and that it does not have business operations in Cuba or Syria as provided in section                            103 31 287.135, Florida Statutes (2011), as may be amended or revised. The City may terminate this Contract at the City’s option if the Proposer is found to have submitted a false certification as provided under subsection (5) of section 287.135, Florida Statutes (2011), as may be amended or revised, or been placed on the Scrutinized Companies with Activities in Sudan List or the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List or has engaged in business operations in Cuba or Syria, as defined in Section 287.135, Florida Statutes (2011), as may be amended or revised. 7.30. FRAUD AND MISREPRESENTATION Any individual, corporation or other entity that attempts to meet its contractual obligations with the City through fraud, misrepresentation or material misstatement, may be debarred from doing business with the City. The City as further sanction may terminate or cancel any oth er contracts with such individual, corporation or entity. Such individual or entity shall be responsible for all direct or indirect costs associated with termination or cancellation, including attorney’s fees. 7.31. DEBARRED OR SUSPENDED BIDDERS OR PROPOSERS The proposer certifies, by submission of a response to this solicitation, that neither it nor its principals and subproposers are presently debarred or suspended by any Federal department or agency. 7.32. COLLUSION More than one bid/proposal received for the same work from an individual, firm, partnership, corporation or association under the same or different names will not be considered. Reasonable grounds for believing that any Proposer is interested in more than one bid/proposal for the same work will cause the rejection of such bin which the Proposer is interested. If there are reasonable grounds for believing that collusion exists among the Proposers, the bids/proposals of participants in such collusion will not be considered. 7.33. COPELAND "ANTI-KICKBACK" The Proposer and all subproposers will comply with the Copeland Anti-Kickback Act (18 U.S.C. 874) as supplemented in Department of Labor regulations (29 CFR Part 3). 7.34. FORCE MAJEURE The Agreement which is awarded to the successful proposer may provide that the per formance of any act by the City or Proposer hereunder may be delayed or suspended at any time while, but only so long as, either party is hindered in or prevented from performance by acts of God, the elements, war, rebellion, strikes, lockouts or any cause beyond the reasonable control of such party, provided however, the City shall have the right to provide substitute service from third parties or City forces and in such event the City shall withhold payment due the Proposer for such period of time. If the condition of force majeure exceeds a period of 14 days the City may, at its option and discretion, cancel or renegotiate this Agreement. 7.35. PUBLIC ENTITY CRIMES 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 proposal on a contract to provide any goods or services to a                            104 32 public entity, may not submit a proposal on a contract with a public entity for the construction or repair of a public building or public work, may not submit bids on leases of real property to a public entity, may not be awarded or perform work as a proposer, supplier, subproposer, 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 Florida Statutes, Section 287.017, for CATEGORY TWO for a period of 36 months from the date of being placed on the convicted vendor list. 7.36. DRUG-FREE WORKPLACE PROGRAM Preference shall be given to businesses with drug-free workplace programs. Whenever two or more bids/proposals which are equal with respect to price, quality, and service are received by the State or by any political subdivision for the procurement of commodities or contractual services, a bid/proposal received from a business that certifies that it has implemented a drug- free workplace program shall be given preference in the award process. Established procedures for processing tie bids/proposals will be followed if none of the tied vendors have a drug-free workplace program. 7.37. SOLICITATION, GIVING, AND ACCEPTANCE OF GIFTS POLICY Proposer shall sign and submit the attached form indicating understanding and compliance with the City's and State's policies prohibiting solicitation and acceptance of gifts by public officers, employees and candidates. Failure to submit the signed form will result in your bid/proposal being declared non-responsive; provided, however, that a responsible proposer whose bid/proposal would be responsive but for the failure to submit the signed form in its bid/proposal may be given the opportunity to submit the form to the City within five calendar days after notification by the City, if this is determined to be in the best interest of the City. 7.38. CONFLICT OF INTEREST The Proposer represents that: No officer, director, employee, agent, or other consultant of the City or a member of the immediate family or household of the aforesaid has directly or indirectly received or been promised any form of benefit, payment or compensation, whether tangible or intangible, in connection with the grant of this Agreement. There are no undisclosed persons or entities interested with the Proposer in this Agreement. This Agreement is entered into by the Proposer without any connection with any other entity or person making a bid/proposal for the same purpose, and without collusion, fraud or conflict of interest. No elected or appointed officer or official, director, employee, agent or other consultant of the City, or of the State of Florida (including elected and appointed members of the legislative and executive branches of government), or member of the immediate family or household of any of the aforesaid: A. Is interested on behalf of or through the Proposer directly or indirectly in any manner whatsoever in the execution or the performance of this Agreement, or in the services, supplies or work, to which this Agreement relates or in any portion of the revenues; or B. Is an employee, agent, advisor, or consultant to the Proposer or to the best of the Proposer’s knowledge, any subproposer or supplier to the Proposer.                            105 33 Neither the Proposer nor any officer, director, employee, agent, parent, subsidiary, or affiliate of the Proposer shall have an interest which is in conflict with the Proposer’s faithful performance of its obligations under this Agreement; provided that the City, in its sole discretion, may consent in writing to such a relationship, and provided the Proposer provides the City with a written notice, in advance, which identifies all the individuals and entities involved and sets forth in detail the nature of the relationship and why it is in the City's best interest to consent to such relationship. The provisions of this Article are supplemental to, not in lieu of, all applicable laws with respect to conflict of interest. In the event there is a difference between the standards applicable under this Agreement and those provided by statute, the stricter standard shall apply. In the event the Proposer has no prior knowledge of a conflict of interest as set forth above and acquires information which may indicate that there may be an actual or apparent violation of any of the above, the Proposer shall promptly bring such information to the attention of the City's Project Manager. The Proposer shall thereafter cooperate with the City's review and investigation of such information, and comply with the instructions the Proposer receives from the Project Manager in regard to remedying the situation. 7.39. DISCRIMINATION Any entity or affiliate who has been placed on the discriminatory vendor list may not submit a bid/proposal on a contract to provide goods or services to a public entity, may not submit a bid/proposal on a contract with a public entity for construction or repair of a public building or public work, may not submit bids/proposals on leases of real property to a public entity, may not award or perform work as a proposer, supplier, subproposer, or consultant under contract with any public entity, and may not transact business with any public entity. 7.40. ADVICE OF OMISSION OR MISSTATEMENT In the event it is evident to a Vendor responding to this SOLICITATION that the City has omitted or misstated a material requirement to this SOLICITATION and/or the services required by this SOLICITATION, the responding Vendor shall advise the contact identified in the SOLICITATION Clarifications and Questions section above of such omission or misstatement. 7.41. CONFIDENTIAL INFORMATION Information contained in the Vendor’s bid/proposal that is company confidential must be clearly identified in the bid/proposal itself. The City will be free to use all information in the Vendor's bid/proposal for the City’s purposes, in accordance with State Law. Vendor bids/proposals shall remain confidential for 30 days or until a notice of intent to award is posted, which is sooner. The Vendor understands that any material supplied to the City may be subject to public disclosure under the Public Records Law. 7.42. GOVERNING LAW This Contract, including appendices, and all matters relating to this Contract (whether in contract, statute, tort (such as negligence), or otherwise) shall be governed by, and construed in accordance with, the laws of the State of Florida. This shall apply notwithstanding such factors which include, but are not limited to, the place where the contract is entered into, the place where the accident occurs and not withstanding application of conflicts of law principles.                            106 34 7.43. LITIGATION VENUE The parties waive the privilege of venue and agree that all litigation between them in the state courts shall take place in Broward County, Florida and that all litigation between them in the federal courts shall take place in the Southern District of Florida. 7.44. SOVEREIGN IMMUNITY Nothing in this agreement shall be interpreted or construed to mean that the city waives its common law sovereign immunity or the limits of liability set forth in Section 768.28, Florida Statute. 7.45. SURVIVAL The parties acknowledge that any of the obligations in this Agreement will survive the term, termination and cancellation hereof. Accordingly, the respective obligations of the Proposer and the City under this Agreement, which by nature would continue beyond the termination, cancellation or expiration thereof, shall survive termination, cancellation or expiration hereof. 7.46. INDEMNIFICATION AND HOLD HARMLESS AGREEMENT The Contractor shall indemnify and hold harmless the City of Hollywood and its officers, employees, agents and instrumentalities from any and all liability, losses or damages. In addition, the City shall be entitled to attorney’s fees and costs of defense, which the City of Hollywood, or its officers, employees, agents or instrumentalities may incur as a result of claims, demands, suits, causes of actions or proceedings of any kind or nature arising out of, relating to or resulting from the performance of this project by the awarded proposer or its employees, agents, servants, partners, principals or subcontractors. Furthermore, the awarded proposer shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits or actions of any kind of nature in the name of the City of Hollywood, where applicable, including appellate proceedings, and shall pay all costs, judgments, and attorney’s fees which may issue thereon. The awarded proposer expressly understands and agrees that any insurance protection required by the resulting agreement or otherwise provided by the awarded proposer shall cover the City of Hollywood, its officers, employees, agents and instrumentalities and shall include claims for damages resulting from and/or caused by the negligence, recklessness or intentional wrongful misconduct of the Contractor and persons employed by or utilized by the Contractor in the performance of the contract. 7.47. PATENT AND COPYRIGHT INDEMNIFICATION The Proposer warrants that all deliverables furnished hereunder, including but not limited to: services, equipment programs, documentation, software, analyses, applications, methods, ways, processes, and the like, do not infringe upon or violate any patent, copyrights, service marks, trade secret, or any other third party proprietary rights. The Proposer shall be liable and responsible for any and all claims made against the City for infringement of patents, copyrights, service marks, trade secrets or any other third party proprietary rights, by the use or supplying of any programs, documentation, software, analyses, applications, methods, ways, processes, and the like, in the course of performance or completion of, or in any way connected with, the work, or the City's continued use of the deliverables furnished hereunder. Accordingly, the Proposer, at its own expense, including the payment of attorney's                            107 35 fees, shall indemnify, and hold harmless the City and defend any action brought against the City with respect to any claim, demand, and cause of action, debt, or liability. In the event any deliverable or anything provided to the City hereunder, or a portion thereof, is held to constitute an infringement and its use is or may be enjoined, the Proposer shall have the obligation, at the City's option, to (i) modify, or require that the applicable subproposer or supplier modify, the alleged infringing item(s) at the Proposer’s expense, without impairing in any respect the functionality or performance of the item(s), or (ii) procure for the City, at the Proposer's expense, the rights provided under this Agreement to use the item(s). The Proposer shall be solely responsible for determining and informing the City whether a prospective supplier or subproposer is a party to any litigation involving patent or copyright infringement, service mark, trademark, violation, or proprietary rights claims or is subject to any injunction which may prohibit it from providing any deliverable hereunder. The Proposer shall enter into agreements with all suppliers and subproposers at the Proposer's own risk. The City may reject any deliverable that it believes to be the subject of any such litigation or injunction, or if, in the City's judgment, use thereof would delay the work or be unlawful. The Proposer shall not infringe any copyright, trademark, service mark, trade secrets, patent rights, or other intellectual property rights in the performance of the work. 7.48. ADVERTISING Vendor shall not advertise or publish the fact that the City has placed this order without prior written consent from the City, except as may be necessary to comply with a proper request for information from an authorized representative of a governmental unit or agency. 7.49. DISCLAIMER The Hollywood may, in its sole discretion, accept or reject, in whole or in part, for any reason whatsoever any or all bids/proposals; re-advertise this SOLICITATION, postpone or cancel at any time this SOLICITATION process; or, waive any formalities of or irregularities in the bid/proposal process. Bids/proposals that are not submitted on time and/or do not conform to the City of Hollywood’s requirements will not be considered. After all bids/proposals are analyzed, organization(s) submitting bid/proposal that appear, solely in the opinion of the City of Hollywood, to be the most competitive, shall be submitted to the City of Hollywood’s City Commission, and the final selection will be made shortly thereafter with a timetable set solely by the City of Hollywood. The selection by the City of Hollywood shall be based on the bid/proposal, which is, in the sole opinion of the City Commission of the City of Hollywood, in the best interest of the City of Hollywood. The issuance of this SOLICITATION constitutes only an invitation to make a bid/proposal to the City of Hollywood. The City of Hollywood reserves the right to determine, in its sole discretion, whether any aspect of the bid/proposal satisfies the criteria established by the City. In all cases the City of Hollywood shall have no liability to any proposer for any costs or expense incurred in connection with this bid/proposal or otherwise. 7.50. TRADEMARKS The City warrants that all trademarks the City requests the Vendor to affix to articles purchased are those owned by the City and it is understood that the Vendor shall not acquire or claim any rights, title, or interest therein, or use any of such trademarks on any articles produced for itself or anyone other than the City.                            108 36 7.51. RIGHT TO REQUEST ADDITIONAL INFORMATION The City reserves the right to request any additional information that might be deemed necessary during the evaluation process. 7.52. PROPOSAL PREPARATION COSTS The Vendor is responsible for any and all costs incurred by the Vendor or his/her subproposers in responding to this solicitation. 7.53. DESIGN COSTS The successful Vendor shall be responsible for all design, information gathering, and required programming to achieve a successful implementation. This cost must be included in the base bid/proposal. 7.54. ADDITIONAL CHARGES No additional charges, other than those listed on the price breakdown sheets, shall be made. Prices quoted will include verification/coordination of order, all costs for shipping, delivery to all sites, unpacking, setup, installation, operation, testing, cleanup, training and Vendor travel charges. 7.55. RIGHTS TO PERTINENT MATERIALS All responses, inquires, and correspondence relating to this SOLICITATION and all reports, charts, displays, schedules, exhibits and other documentation produced by the Vendor that are submitted as part of the bid/proposal shall become the property of the City upon receipt, a part of a public record upon opening, and will not be returned. 7.56. INSURANCE REQUIREMENTS See insurance requirements in the main solicitation document. 7.57. NATURE OF THE AGREEMENT The Agreement incorporates and includes all negotiations, correspondence, conversations, agreements, and understandings applicable to the matters contained in the Agreement. The parties agree that there are no commitments, agreements, or understandings concerning the subject matter of the Agreement that are not contained in the Agreement, and that the Agreement contains the entire agreement between the parties as to all matters contained herein. Accordingly, it is agreed that no deviation from the terms hereof shall be predicated upon any prior representations or agreements, whether oral or written. It is further agreed that any oral representations or modifications concerning this Agreement shall be of no force or effect, and that the Agreement may be modified, altered or amended only by a written amendment duly executed by both parties hereto or their authorized representatives. The Proposer shall provide the services set forth in the Scope of Services, and render full and prompt cooperation with the City in all aspects of the services performed hereunder. The Proposer acknowledges that the Agreement requires the performance of all things necessary for or incidental to the effective and complete performance of all work and services under t his Contract. All things not expressly mentioned in the Agreement but necessary to carrying out its                            109 37 intent are required by the Agreement, and the Proposer shall perform the same as though they were specifically mentioned, described and delineated. The Proposer shall furnish all labor, materials, tools, supplies, and other items required to perform the work and services that are necessary for the completion of this Contract. All work and services shall be accomplished at the direction of and to the satisfaction of the City's Project Manager. The Proposer acknowledges that the City shall be responsible for making all policy decisions regarding the Scope of Services. The Proposer agrees to provide input on policy issues in the form of recommendations. The Proposer agrees to implement any and all changes in providing services hereunder as a result of a policy change implemented by the City. The Proposer agrees to act in an expeditious and fiscally sound manner in providing the City with input regarding the time and cost to implement said changes and in executing the activities required to implement said changes. 7.58. AUTHORITY OF THE CITY’S PROJECT MANAGER The Proposer hereby acknowledges that the City’s Project Manager will determine in the first instance all questions of any nature whatsoever arising out of, under, or in connection with, or in any way related to or on account of, this Agreement including without limitations: questions as to the value, acceptability and fitness of the services; questions as to either party's fulfillment of its obligations under the Contract; negligence, fraud or misrepresentation before or subsequent to acceptance of the Bid/proposal; questions as to the interpretation of the Scope of Services; and claims for damages, compensation and losses. The Proposer shall be bound by all determinations or orders and shall promptly obey and follow every order of the Project Manager, including the withdrawal or modification of any previous order and regardless of whether the Proposer agrees with the Project Manager's determination or order. Where orders are given orally, they will be issued in writing by the Project Manager as soon thereafter as is practicable. The Proposer must, in the final instance, seek to resolve every difference concerning the Agreement with the Project Manager. In the event that the Project Manager and the Proposer are unable to resolve their difference, the Proposer may initiate a dispute in accordance with the procedures set forth in the section below. Exhaustion of these procedures shall be a condition precedent to any lawsuit permitted hereunder. In the event of such dispute, the parties to this Agreement authorize the City Manager or designee, who may not be the Project Manager or anyone associated with this Project, acting personally, to decide all questions arising out of, under, or in connection with, or in any way related to or on account of the Agreement (including but not limited to claims in the nature of breach of contract, fraud or misrepresentation arising either before or subsequent to execution hereof) and the decision of each with respect to matters within the City Manager's purview as set forth above shall be conclusive, final and binding on the parties. Any such dispute shall be brought, if at all, before the City Manager within 10 days of the occurrence, event or act out of which the dispute arises. The City Manager may base this decision on such assistance as may be desirable, including advice of experts, but in any event shall base the decision on an independent and objective determination of whether the Proposer’s performance or any deliverable meets the requirements of this Agreement and any specifications with respect thereto set forth herein. The effect of any                            110 38 decision shall not be impaired or waived by any negotiations or settlements or offers made in connection with the dispute, whether or not the City Manager participated therein, or by any prior decision of others, which prior decision shall be deemed subject to review, or by any termination or cancellation of the Agreement. All such disputes shall be submitted in writing by t he Proposer to the City Manager for a decision, together with all pertinent information in regard to such questions, in order that a fair and impartial decision may be made. The parties agree that whenever the City Manager is entitled to exercise discretion or judgment or to make a determination or form an opinion pursuant to the provisions of this Article, such action shall be deemed fair and impartial when exercised or taken. The City Manager shall render a decision in writing and deliver a copy of the same to the Proposer. Except as such remedies may be limited or waived elsewhere in the Agreement, the Proposer reserves the right to pursue any remedies available under law after exhausting the provisions of this Article. 7.59. MUTUAL OBLIGATIONS This Agreement, including attachments and appendices to the Agreement, shall constitute the entire Agreement between the parties with respect hereto and supersedes all previous communications and representations or agreements, whether written or oral, with respect to the subject matter hereof unless acknowledged in writing by the duly authorized representatives of both parties. Nothing in this Agreement shall be construed for the benefit, intended or otherwise, of any third party that is not a parent or subsidiary of a party or otherwise related (by virtue of ownership control or statutory control) to a party. In those situations where this Agreement imposes an indemnity or defense obligation on the Proposer, the City may, at its expense, elect to participate in the defense if the City should so choose. Furthermore, the City may at its own expense defend or settle any such claims if the Proposer fails to diligently defend such claims, and thereafter seek indemnity for costs and attorney’s fees from the Proposer. 7.60. SUBCONTRACTUAL RELATIONS If the Proposer will cause any part of this Agreement to be performed by a subproposer, the provisions of this Contract will apply to such subproposer and its officers, agents and employees in all respects as if it and they were employees of the Proposer; and the Proposer will not be in any manner thereby discharged from its obligations and liabilities hereunder, but will be liable hereunder for all acts and negligence of the subproposer, its officers, agents, and employees, as if they were employees of the Proposer. The services performed by the subproposer will be subject to the provisions hereof as if performed directly by the Proposer. The Proposer, before making any subcontract for any portion of the services, will state in writing to the City the name of the proposed subproposer, the portion of the services which the subproposer is to do, the place of business of such subproposer, and such other information as the City may require. The City will have the right to require the Proposer not to award any subcontract to a person, firm or corporation disapproved by the City. Before entering into any subcontract hereunder, the Proposer will inform the subproposer fully and completely of all provisions and requirements of this Agreement relating either directly or                            111 39 indirectly to the services to be performed. Such services performed by such subproposer will strictly comply with the requirements of this Contract. In order to qualify as a subproposer satisfactory to the City, in addition to the other requirements herein provided, the subproposer must be prepared to prove to the satisfaction of the City that it has the necessary facilities, skill and experience, and ample financial resources to perform the services in a satisfactory manner. To be considered skilled and experienced, the subproposer must show to the satisfaction of the City that it has satisfactorily performed services of the same general type which are required to be performed under this Agreement. The City shall have the right to withdraw its consent to a subcontract if it appears to the City that the subcontract will delay, prevent, or otherwise impair the performance of the Proposer's obligations under this Agreement. All subproposers are required to protect the confidentiality of the City and City's proprietary and confidential information. The Proposer shall furnish to the City copies of all subcontracts between the Proposer and subproposers and suppliers hereunder. Within each such subcontract, there shall be a clause for the benefit of the City permitting the City to request completion of performance by the subproposer of its obligations under the subcontract, in the event the City finds the Proposer in breach of its obligations, and the option to pay the subproposer directly for the performance by such subproposer. The foregoing shall neither convey nor imply any obligation or liability on the part of the City to any subproposer hereunder as more fully described herein. 7.61. PROMPT PAYMENT: LATE PAYMENTS BY PROPOSER TO SUBPROPOSER AND MATERIAL SUPPLIERS; PENALTY: When a proposer receives from the City of Hollywood any payment for contractual services, commodities, materials, supplies, or construction contracts, the proposer shall pay such moneys received to each subproposer and material supplier in proportion to the percentage of work completed by each subproposer and material supplier at the time of receipt. If the proposer receives less than full payment, then the proposer shall be required to disburse only the funds received on a pro rata basis to the subproposers and materials Suppliers, each receiving a prorated portion based on the amount due on the payment. If the proposer without reasonable cause fails to make payments required by this section to subproposers and material suppliers within fifteen (15) working days after the receipt by the proposer of full or partial payment, the proposer shall pay to the subproposers and material suppliers a penalty in the amount of one percent (1%) of the amount due, per month, from the expiration of the period allowed herein for payment. Such penalty shall be in addition to actual payments owed. Retainage is also subject to the prompt payment requirement and must be returned to the subproposer or material supplier whose work has been completed, even if the prime contract has not been completed. The Proposer shall include the above obligation in each subcontract it signs with a subproposer or material suppler. 7.62. TERMINATION FOR CONVENIENCE AND SUSPENSION OF WORK The City may terminate this Agreement if an individual or corporation or other entity attempts to meet its contractual obligation with the City through fraud, misrepresentation or material misstatement.                            112 40 The City may, as a further sanction, terminate or cancel any other contract(s) that such individual or corporation or other entity has with the City. Such individual, corporation or other entity shall be responsible for all direct and indirect costs associated with such termination or cancellation, including attorney’s fees. The foregoing notwithstanding, any individual, corporation or other entity which attempts to meet its contractual obligations with the City through fraud, misrepresentation or material misstatement may be debarred from City contracting in accordance with the City debarment procedures. The Proposer may be subject to debarment for failure to perform and any other reasons related to the proposer’s breach or failure of satisfactory performance. In addition to cancellation or termination as otherwise provided in this Agreement, the City ma y at any time, in its sole discretion, with or without cause, terminate this Agreement by written notice to the Proposer and in such event: The Proposer shall, upon receipt of such notice, unless otherwise directed by the City: A. Stop work on the date specified in the notice ("the Effective Termination Date"); B. Take such action as may be necessary for the protection and preservation of the City's materials and property; C. Cancel orders; D. Assign to the City and deliver to any location designated by the City any non-cancelable orders for deliverables that are not capable of use except in the performance of this Agreement and which have been specifically developed for the sole purpose of this Agreement and not incorporated in the services; E. Take no action which will increase the amounts payable by the City under this Agreement. In the event that the City exercises its right to terminate this Agreement pursuant to this Article, the Proposer will be compensated as stated in the payment articles herein, for the: A. Portion of the services completed in accordance with the Agreement up to the Effective Termination Date; and B. Non-cancelable deliverables that are not capable of use except in the performance of this Agreement and which have been specifically developed for the sole purpose of this Agreement but not incorporated in the services. All compensation pursuant to this Article is subject to audit. 7.63. EVENT OF DEFAULT An Event of Default shall mean a breach of this Agreement by the Proposer. Without limiting the generality of the foregoing and in addition to those instances referred to herein as a breach, an Event of Default, shall include the following: A. The Proposer has not delivered deliverables on a timely basis;                            113 41 B. The Proposer has refused or failed, except in any case for which an extension of time is provided, to supply enough properly skilled staff personnel; C. The Proposer has failed to make prompt payment to subproposers or suppliers for any services; D. The Proposer has become insolvent (other than as interdicted by the bankruptcy laws), or has assigned the proceeds received for the benefit of the Proposer's creditors, or the Proposer has taken advantage of any insolvency statute or debtor/creditor law or if the Proposer's affairs have been put in the hands of a receiver; E. The Proposer has failed to obtain the approval of the City where required by this Agreement; F. The Proposer has failed to provide "adequate assurances" as required under subsection "B" below; and G. The Proposer has failed in the representation of any warranties stated herein. When, in the opinion of the City, reasonable grounds for uncertainty exist with respect to the Proposer's ability to perform the services or any portion thereof, the City may request that the Proposer, within the time frame set forth in the City's request, provide adequate assurances to the City, in writing, of the Proposer's ability to perform in accordance with terms of this Agreement. Until the City receives such assurances the City may request an adjustment to the compensation received by the Proposer for portions of the services which the Proposer has not performed. In the event that the Proposer fails to provide to the City the requested assurances within the prescribed time frame, the City may: A. Treat such failure as a repudiation of this Agreement; B. Resort to any remedy for breach provided herein or at law, including but not limited to, taking over the performance of the services or any part thereof either by itself or through others. In the event the City shall terminate this Agreement for default, the City or its designated representatives may immediately take possession of all applicable equipment, materials, products, documentation, reports and data. 7.64. REMEDIES IN THE EVENT OF DEFAULT If an Event of Default occurs, the Proposer shall be liable for all damages resulting from the default, including but not limited to: A. Lost revenues; B. The difference between the cost associated with procuring services hereunder and the amount actually expended by the City for procurement of services, including procurement and administrative costs; and, C. Such other damages that the City may suffer.                            114 42 The Proposer shall also remain liable for any liabilities and claims related to the Proposer’s default. The City may also bring any suit or proceeding for specific performance or for an injunction. 7.65. BANKRUPTCY The City reserves the right to terminate this contract if, during the term of any contract the Proposer has with the City, the Proposer becomes involved as a debtor in a bankruptcy proceeding, or becomes involved in a reorganization, dissolution, or liquidation proceeding, or if a trustee or receiver is appointed over all or a substantial portion of the property of the Proposer under federal bankruptcy law or any state insolvency law. 7.66. CANCELLATION FOR UNAPPROPRIATED FUNDS The obligation of the City for payment to a Proposer is limited to the availability of funds appropriated in a current fiscal period, and continuation of the contract into a subsequent fiscal period is subject to appropriation of funds, unless otherwise authorized by law. 7.67. VERBAL INSTRUCTIONS PROCEDURE No negotiations, decisions, or actions shall be initiated or executed by the Proposer as a result of any discussions with any City employee. Only those communications which are in writing from an authorized City representative may be considered. Only written communications from Proposers, which are signed by a person designated as authorized to bind the Proposer, will be recognized by the City as duly authorized expressions on behalf of the Proposer. 7.68. E-VERIFY Proposer acknowledges that the City may be utilizing the Proposer’s services for a project that is funded in whole or in part by State funds pursuant to a contract between the City and a State agency. The Proposer shall be responsible for complying with the E-Verify requirements in the contract and using the U.S. Department of Homeland Security’s E-Verify system to verify the employment of all new employees hired by the Proposer during the Agreement term. The Proposer is also responsible for e-verifying its subproposers, if any, pursuant to any agreement between the City and a State Agency, and reporting to the City any required information. The Proposer acknowledges that the terms of this paragraph are material terms, the breach of any of which shall constitute a default under this Agreement. 7.69. BUDGETARY CONSTRAINTS In the event the City is required to reduce contract costs due to budgetary constraints, all services specified in this document may be subject to a permanent or temporary reduction in budget. In such an event, the total cost for the affected service shall be reduced as required. The Proposer shall also be provided with a minimum 30-day notice prior to any such reduction in budget. 7.70. COST ADJUSTMENTS The cost for all items as quoted herein shall remain firm for the first term of the contract. Costs for subsequent years and any extension term years shall be subject to an adjustment only if increases occur in the industry. However, unless very unusual and significant changes have occurred in the industry, such increases shall not exceed 3% per year or, whichever is less, the latest yearly percentage increase in the All Urban Consumers Price Index (CPU-U) (National) as published by                            115 43 the Bureau of Labor Statistics, U.S. Dept. of Labor. The yearly increase or decrease in the CPI shall be that latest index published and available ninety (90) days prior to the end of the contract year than in effect compared to the index for the same month one year prior. Any requested cost increase shall be fully documented and submitted to the City at least ninety (90) days prior to the contract anniversary date. Any approved cost adjustments shall become effective upon the anniversary date of the contract. In the event the CPI or industry costs decline, the City shall have the right to receive from the Proposer a reduction in costs that reflects such cost changes in the industry. The City may, after examination, refuse to accept the adjusted costs if they are not properly documented, increases are considered to be excessive, or decreases are considered to be insufficient. In the event the City does not wish to accept the adjusted costs and the matter cannot be resolved to the satisfaction of the City, the contract can be cancelled by the City upon giving thirty (30) days written notice to the Proposer. 7.71. OSHA STANDARDS Proposer acknowledges and agrees that as Contractor for the City of Hollywood, Florida, within the limits of the City of Hollywood, Florida, will have the sole responsibility for compliance with all requirements of the Federal Occupational Safety and Health Act of 1970, and all State and local safety and health regulations, and agrees to defend, indemnify and hold harmless the City of Hollywood, Florida, its officials, employees, service providers, and its agents against any and all legal liability or loss the City of Hollywood, Florida may incur due to the Contractor's failure to comply with such act.                            116 44 8. PROPOSAL SUBMISSIONS The responsibility for submitting a bid/proposal on or before the time and date is solely and strictly the responsibility of the bidder/proposer, the City will in no way be responsible for delays caused by technical difficulty or caused by any other occurrence. No part of a bid/proposal can be submitted via FAX or via direct Email to the City. No variation in price or conditions shall be permitted based upon a claim of ignorance. 8.1. SUBMITTAL FORMAT* The items below are required components of your solicitation response in order for your bid/proposal/submittal to be consider responsive and responsible. Please confirm this submittal includes the following items in this checklist: A. Title Page: Show the RFP title/number, firm’s name, address, telephone number, contact person, email, and date. B. Table of Contents: Clearly identify the material by section title and page number, including the following sections: 1. Approach and Methodology 2. Environmental benefits 3. Vendor Capabilities 4. Driver's Qualifications 5. Firm's Qualifications 6. ADA Compliance 7. Maintenance/Recovery Plan 8. Risk Mitigation Plan 9. References 10. Pricing 11. Additional/Pertinent Information (Optional) C. Forms and Certifications (Completed) 1. This Submittal Checklist Confirmation 2. Bid Form (Pricing) 3. Vendor Reference Form* 4. Hold Harmless and Indemnity Clause 5. Non-Collusion Statement 6. Sworn Statement…Public Entity Crimes                            117 45 7. Certifications Regarding Debarment 8. Drug-Free Workplace Program 9. Solicitation, Giving, and Acceptance 10. W-9 (Request for Taxpayer Identification) 11. Certificate(s) of insurance that meet the requirements of the #SPECIAL TERMS AND CONDITIONS section. 12. Proof of State of Florida Sunbiz Registration 13. Acknowledgement and Signature Questionnaire This checklist is only a guide, please read the entire solicitation to ensure that your submission includes all required information and documentation. ☐ Please confirm *Response required 8.2. Bid Form * Upload pricing information in accordance with the scope and using the structure of Exhibit C - Pricing. Creative and optional pricing can be uploaded as separate attachments. *Response required 8.3. Vendor Reference Form* Please download the below documents, complete, and upload for each vendor reference. A Minimum of three (3) references are required. • Vendor_Reference_Form.pdf *Response required 8.4. Hold Harmless and Indemnity Clause * I, an authorized representative, the contractor, shall indemnify, defend and hold harmless the City of Hollywood, its elected and appointed officials, employees and agents for any and all suits, actions, legal or administrative proceedings, claims, damage, liabilities, interest, attorney’ s fees, costs of any kind whether arising prior to the start of activities or following the completion or acceptance and in any manner directly or indirectly caused, occasioned or contributed to in whole or in part by reason of any act, error or omission, fault or negligence whether active or passive by the contractor, or anyone acting under its direction, control, or on its behalf in connection with or incident to its performance of the contract. ☐ Please confirm *Response required                            118 46 8.5. Non-Collusion Statement* I, being first duly sworn, depose that: A. He/she is an authorized representative of the Company, the Proposer that has submitted the attached Proposal. B. He/she has been fully informed regarding the preparation and contents of the attached Proposal and of all pertinent circumstances regarding such Proposal; C. Such Proposal is genuine and is not a collusion or sham Proposal; D. Neither the said Proposer nor any of its officers, partners, owners, agents, representatives, employees or parties in interest, including this affiant has in any way colluded, conspired, connived or agreed, directly or indirectly with any other Proposer, firm or person to submit a collusive or sham Proposal in connection with the contractor for which the attached Proposal has been submitted or to refrain from bidding in connection with such contract, or has in any manner, directly or indirectly, sought by agreement or collusion or communication or conference with any other Proposer, firm or person to fix the price or prices, profit or cost element of the Proposal price or the Proposal price of any other Proposer, or to secure an advantage against the City of Hollywood or any person interested in the proposed Contract; and E. The price or prices quoted in the attached Proposal are fair and proper and are not tainted by any collusion, conspiracy, connivance or unlawful agreement on the part of the Proposer or any of its agents, representatives, owners, employees, or parties in interest, including this affiant. ☐ Please confirm *Response required 8.6. Sworn Statement Public Entity Crimes* Please download the below documents, complete, and upload. • Sworn_Statement_Public_Enti... *Response required 8.7. Certifications Regarding Debarment, Suspension and Other Responsibility Matters* The applicant certifies that it and its principals: Are not presently debarred, suspended, proposed for debarment, declared ineligible, sentenced to a denial of Federal benefits by a State or Federal court, or voluntarily excluded from covered transactions by any Federal department or agency; Have not within a three-year period preceding this application been convicted of or had a civil judgment rendered against them for commission of fraud or a criminal offense in connection with                            119 47 obtaining, attempting to obtain, or performing a public (Federal, State, or local) transaction or contract under a public transaction, violation of Federal or State antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property; Are not presently indicted for or otherwise criminally or civilly charged by a governmental entity (Federal, State, or local) with commission of any of the offenses enumerated in paragraph (b) of this certification; and Have not within a three-year period preceding this application had one or more public transactions (Federal, State, or local) terminated for cause or default. ☐ Please confirm *Response required 8.8. Drug-Free Workplace Program* A. IDENTICAL TIE PROPOSALS - Preference shall be given to businesses with drug-free workplace programs. Whenever two or more bids which are equal with respect to price, quality, and service are received by the State or by any political subdivision for the procurement of commodities or contractual services, a bid received from a business that certifies that it has implemented a drug-free workplace program shall be given preference in the award process. Established procedures for processing tie proposals will be followed if none of the tied vendors have a drug-free workplace program. In order to have a drug-free workplace program, a business shall: 1. Publish 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 prohibition. 2. Inform employees about the dangers of drug abuse in the workplace, the business’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. Give each employee engaged in providing the commodities or contractual services that are under bid a copy of the statement specified in subsection (1). 4. In the statement specified in subsection (1), notify the employee that, as a condition of working on the commodities or contractual services that are under bid, the employee will abide by the terms of the statement and will notify the employer of any conviction of, or plea of guilty or nolo contendere to, any violation of chapter 893 or of 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.                            120 48 5. Impose a sanction on, or require 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 so convicted. 6. Make a good faith effort to continue to maintain a drug-free workplace through implementation of these requirements. As the person authorized to sign the statement, I certify that this firm complies fully with the above requirements. ☐ Please confirm *Response required 8.9. Solicitation, Giving, and Acceptance of Gifts Policy* Florida Statute 112.313 prohibits the solicitation or acceptance of Gifts. “No Public officer, employee of an agency, local government attorney, or candidate for nomination or election shall solicit or accept anything of value to the recipient, including a gift, loan, reward, promise of future employment, favor, or service, based upon any understanding that the vote, official action, or judgment of the public officer, employee, local government attorney, or candidate would be influenced thereby.” The term “public officer” includes “any person elected or appointed to hold office in any agency, including any person serving on an advisory body.” The City of Hollywood/Hollywood CRA policy prohibits all public officers, elected or appointed, all employees, and their families from accepting any gifts of any value, either directly or indirectly, from any contractor, vendor, consultant, or business with whom the City/CRA does business. The State of Florida definition of “gifts” includes the following: • Real property or its use, • Tangible or intangible personal property, or its use, • A preferential rate or terms on a debt, loan, goods, or services, • Forgiveness of indebtedness, • Transportation, lodging, or parking, • Food or beverage, • Membership dues, • Entrance fees, admission fees, or tickets to events, performances, or facilities, • Plants, flowers or floral arrangements • Services provided by persons pursuant to a professional license or certificate. • Other personal services for which a fee is normally charged by the person providing the services.                            121 49 • Any other similar service or thing having an attributable value not already provided for in this section. Any contractor, vendor, consultant, or business found to have given a gift to a public officer or employee, or his/her family, will be subject to dismissal or revocation of contract. As the person authorized to sign the statement, I certify that this firm will comply fully with this policy. ☐ Please confirm *Response required 8.10. W-9 (Request for Taxpayer Identification)* Please download the below documents, complete, and upload. • W-9.pdf *Response required 8.11. List of Subcontractors* Please download the below documents, complete, and upload. • Form_14_-_List_of_Subcontra... *Response required 8.12. Certificate of Insurance* See requirements in the #SPECIAL TERMS AND CONDITIONS section. *Response required 8.13. Proof of Sunbiz Registration* Enter company FEIN to be verified in Sunbiz *Response required 8.14. ACKNOWLEDGMENT AND SIGNATURE PAGE 8.14.1. If Corporation - Date Incorporated/Organized:* *Response required 8.14.2. State Incorporated/Organized:* *Response required 8.14.3. Remittance Address* *Response required 8.14.4. Bidder/Proposer’s Authorized Representative’s Typed Full Name* *Response required                            122 50 8.14.5. IT IS HEREBY CERTIFIED AND AFFIRMED THAT THE BIDDER/PROPOSER CERTIFIES ACCEPTANCE OF THE TERMS, CONDITIONS, SPECIFICATIONS, ATTACHMENTS AND ANY ADDENDA. THE BIDDER/PROPOSER SHALL ACCEPT ANY AWARDS MADE AS A RESULT OF THIS SOLICITATION. BIDDER/PROPOSER FURTHER AGREES THAT PRICES QUOTED WILL REMAIN FIXED FOR THE PERIOD OF TIME STATED IN THE SOLICITATION.* ☐ Please confirm *Response required 8.14.6. THE EXECUTION OF THIS FORM CONSTITUTES THE UNEQUIVOCAL OFFER OF BIDDER/PROPOSER TO BE BOUND BY THE TERMS OF ITS PROPOSAL. FAILURE TO SIGN THIS SOLICITATION WHERE INDICATED BY AN AUTHORIZED REPRESENTATIVE SHALL RENDER THE BID/PROPOSAL NON- RESPONSIVE. THE CITY MAY, HOWEVER, IN ITS SOLE DISCRETION, ACCEPT ANY BID/PROPOSAL THAT INCLUDES AN EXECUTED DOCUMENT WHICH UNEQUIVOCALLY BINDS THE BIDDER/PROPOSER TO THE TERMS OF ITS OFFER.* ☐ Please confirm *Response required 8.14.7. Proposal Upload* Submit entire proposal including Title Page, Table of Contents, etc. *Response required                            123 City-Wide Micro-Transit Services 16 of 18 EXHIBIT C – Company’s Proposal                            124 A. Title Page Request for Proposal RFP04523SK For The Citywide micro-transit Services City of Hollywood, Florida Prepared for: City of Hollywood Senior Purchasing Agent Attn: Simone Knight 2600 Hollywood Boulevard Room 303 Hollywood, FL 33020 Date:March 8, 2023 Prepared by:Circuit Transit Inc 777 S Flagler Drive Suite 800 W West Palm Beach, FL 33401 Contact Person:Jason Bagley, National Partner jason@ridecircuit.com | 3054941612                            125 A.1 Cover Letter Circuit Transit Inc ridecircuit.com March 8, 2023 City of Hollywood Senior Purchasing Agent Attn: Simone Knight 2600 Hollywood Boulevard Room 303 Hollywood, FL 33020 Re: Request for Proposals RFP04523SK for The City of Hollywood, Florida Citywide micro-transit Services Dear City of Hollywood, This submission is in response to the Request for Proposals RFP for City of Hollywood micro-transit Shuttle Service.Thank you for the opportunity to submit our proposal to the City of Hollywood. This proposal will show that Circuit Transit Inc (operator of Hollywood Sun Shuttle and Fort Lauderdale Circuit, etc.) has the proven capabilities and background in providing a sustainable on-demand shuttle program, as well as relevant and specific experience in Broward County, local knowledge and familiarity with the City. Circuit is an active service provider in Hollywood, Florida, that is responsible for the successful deployment and management of the Sun Shuttle as well as similar services with Cities in South Florida, Brightline Trains and other Cities in NY, NJ, CA and TX. Circuit provides all electric, first/last mile solutions that help move people in local communities and bridge gaps between riders and existing transit. By using fleets of electric vehicles, leveraging the data from its ride-request app, and working with top advertisers, Circuit is able to provide an eco-friendly, data-centric and efficient solution that promotes circulation, reduces parking congestion, promotes local economic development, reduces vehicle miles traveled, encourages alternate options, creates local jobs, and covers the last mile conveniently and affordably to the rider. Circuit has worked with the CIty of Hollywood and the Hollywood Community Redevelopment Agency since 2019 to design, build, and manage the Hollywood Sun Shuttle. The program is currently moving around 12,000 riders per month, is responsible for creating approximately 20 jobs, and has continued to improve and become a fixture of the Hollywood Community. Together, we have been able to craft a program that has gotten the attention of the press, local officials and nearby Cities; several of which have since enacted similar programs of their own. Hollywood has set an example for efficient, eco-friendly mobility that changes how communities move. The Sun Shuttle has “Exceed(ed) Expectations”1 and the overwhelming demand from riders has showcased the need for transportation services in the City. The team is excited about the opportunity to build upon the existing services and craft an updated approach to the community. 1 https://hollywoodgazette.com/sun-shuttle-is-very-successful/ City of Hollywood RFP04523SK for Citywide micro-transit Services Page 2 of 123                            126 Circuit is the largest and most experienced operator of shared, on-demand, last-mile EV shuttle services in the US. With successful operations in 40 markets across South Florida, California, Texas, New York, New Jersey, and California, Circuit provides both national expertise and local experience. In South Florida, Circuit operates in Fort Lauderdale, Pompano Beach, Hollywood, West Palm Beach, Palm Beach, and Miami, as well as a 40 cars servicing Brightline Trains, across 5 stations in the area. With more than 350 employees and 190 vehicles, Circuit has the team, resources and experience to optimize mobility for Hollywood. Over the past five years, Circuit has engaged with stakeholders and businesses in the City of Hollywood and is very familiar with the local transportation needs and community. We have years of data that can be used to improve this program and inform the City of the movement of residents and visitors. The community support has been incredible and we’re honored to be a part of Hollywood’s growth. The company's officers and project leads are as follows: Alexander Esposito CEO / Co-Founder Email: alex@ridecircuit.com Tel: 5164468513 Address: 780 S. Sapodilla Ave West Palm Beach, FL 33401 Jason Bagley Partner, National Operations Email: jason@ridecircuit.com Tel: 3054941612 Address: 1305 SW 8th Ave Fort Lauderdale, FL 33315 Alexander and Jason have the authority to negotiate and contractually obligate the company. Jason will be the primary point of contact for this program and can be contacted for further clarification. If selected, we are committed to working with the City to provide a turn-key on-demand service designed to meet the needs outlined in this RFP. Circuit appreciates your review of our submission and welcomes any questions that you may have. Sincerely, Jason Bagely Partner, Circuit Transit Inc Circuit’s corporate headquarters are located at 777 S. Flagler Drive, Suite 800 West Tower, West Palm Beach, FL 33401. Circuit also has local offices located at 2031 Harrison St, Hollywood, FL 33020 and existing infrastructure, including a large local fleet of all electric Polaris GEMs e6, electric sedans, and electric passenger vans. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 3 of 123                            127 B. Table of Contents A. Title Page 1 A.1 Cover Letter 2 B. Table of Contents 4 B1. Approach and Methodology 7 B1.1 Service Planning, Research and Analysis 7 B1.1.1 Existing Services in Hollywood and South Florida 8 B1.1.2 Local Research, Current Hollywood Sun Shuttle, and Discovery 10 B1.2 Our Project Plan 15 B1.2.1 Proposed Operating Plan:16 B1.2.2 Alternate Options for On-Demand Services 21 B1.2.3 Alternate Operating Plan A21 B1.2.3 Alternate Operating Plan B 22 B1.2.4 Alternate Operating Plan C23 B1.2.2 Drivers 25 B1.2.3 Technology 26 B1.2.4 Timeline 27 B1.2.4 Project Team and Organizational Chart 27 B2. Environmental & Sustainability Benefits 29 B3. Vendor / Contractor Capabilities 30 B3.1 Background on Circuit 30 B3.2 General Company Information CONFIDENTIAL 31 B3.3 Financial Capabilities CONFIDENTIAL 34 B3.4 Revenue and Funding Capabilities 34 B3.4.1 Advertising Capabilities 34 B3.4.2 Fare Revenue Capabilities CONFIDENTIAL 35 B3.4.3 Grant Sourcing Capabilities 36 B3.5 Technological Capabilities CONFIDENTIAL 36 B3.5.1 Ride Request App 37 B3.5.2 Driver App Capabilities 38 B3.5.3 On Demand Coverage Zones and the Smart Stop Approach 39 B3.5.4 Using Data to Steer Service Operations 39 B3.6 Vehicle Capabilities 40 B3.7.1 Vehicle Maintenance Capabilities 42 B3.7 Driver Capabilities 43 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 4 of 123                            128 B3.7.1 Driver Model 43 B3.8 Customer Service Capabilities 45 B4. Driver’s Qualifications 46 B4.2. Training 47 B4.2.1 Certifications 48 B4.2.2 Drug Testing and Hiring Standard 48 B5. Firm’s Qualifications and Experience 48 B5.1 Experience Overview 49 B5.1.1 Experience Overview 49 B5.1.2 Neighborhood Electric Vehicle Operations & Maintenance Experience 49 B5.1.3 Micro-Transit Operations Experience 50 B5.1.4 Community Engagement Experience 51 B5.2 Project Experience 53 B5.2.1 Past Project Experience- Hollywood Sun Shuttle 53 B5.2.2 Past Project- FRED 54 B5.2.3 Additional Past Project Experience 55 B5.3 References 55 B5.4 Customer Testimonials Confidential)56 B6. ADA Compliance 57 B6.1 ADA Compliance Plan 57 B7. Maintenance / Recovery Plan 58 B7.1 Commitment to Avoid Service and Operation Disruptions 58 B7.2 Scenario Response 59 B8. Risk Mitigation 59 B8.1 Emergency Management Plan 59 B8.2 Risk Mitigation Plans 60 B9. Local Vendor Preference 63 B9.1 Local Hollywood Presence 64 B10. Pricing 66 B10.1 Fixed Pricing Rate Proposed Option 66 B10.2 Circuit Alternative Pricing Options Hollywood RFP 2023 68 B10.3 Unbanked Riders 70 C. Completed Forms and Certifications 71 C1. This Submittal Checklist Confirmation 71 C2. Bid Form Pricing) CONFIDENTIAL 72 C3. Vendor Reference Forms 75 C4. Hold Harmless and Indemnity Clause 78 C5. Non-Collusion Statement 79 C6. Sworn Statement…Public Entity Crimes 80 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 5 of 123                            129 C7. Certifications Regarding Debarment 82 C8. Drug-Free Workplace Program 83 C9. Solicitation, Giving, and Acceptance 84 C10. W9 Request for Taxpayer Identification)85 C11. List of subcontractors 86 C12. Certificate(s) of insurance 87 C13. Proof of State of Florida Sunbiz Registration 89 Appendix 91 Appendix 1 Letters of Support 91 Appendix 1.1 Rider Letter of Support:91 Appendix 1.2 Letters of Support:98 Appendix 1.2.1 Water Taxi 98 Appendix 1.2.2 Downtown Development Authority, WPB 99 Appendix 1.2.3 Cityfi 100 Appendix 1.2.4 Billy’s Stone Crab 101 Appendix 1.2.5 World Tire Inc.102 Appendix 1.2.6 Margaritaville 103 Appendix 1.2.7 Le Tub, Tiki Tiki, GG’s 104 Appendix 1.2.8 Diplomat Beach Resort Valet Services)105 Appendix 2 Example of Data Report 106 Appendix 2.1 February 2023 Hollywood Data Report 106 Appendix 3 Case Studies 112 Appendix 3.1 Hollywood Case Study 112 Appendix 3.2 Brightline Case Study 115 Appendix 3.3 San Diego Case Study 118 Appendix 4 Additional Past Project Experience 120 Appendix 4.1 New Rochelle NY 120 Appendix 4.2 Brightline 120 Appendix 4.3. West Palm Beach, FL 121 Appendix 4.4 Pompano Beach, FL 121 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 6 of 123                            130 B1. Approach and Methodology In 2019, Circuit and the City of Hollywood crafted one of the most advanced Neighborhood Electric Vehicle NEV shuttle services that had ever been deployed in Florida. Circuit is very pleased to provide our plan to the City of Hollywood in its endeavor for the next generation of transportation access in Hollywood. Circuit is eager to continue to operate the Hollywood Sun Shuttle as an active, engaged and embedded partner of the City and business communities. We are very excited to evolve the current Sun Shuttle service and match the needs of the RFP. We understand that the City wants to offer dynamic allocated routes and schedules to match consumer demand and support the upcoming fixed route community shuttle services. Over the last four years, Circuit and the City of Hollywood have worked in partnership to provide residents and visitors with a micro-transit mobility offering that is effective, sustainable, supports the local business community and provides a fun experience for riders. We look forward to the next iteration of transportation offerings in Hollywood, and hope that with our carefully crafted service operations plan, we will continue to work in partnership to support the City's transportation goals for its residents and visitors. The team at Circuit is incredibly proud of the work it’s accomplished with the City of Hollywood over the past 4 years.“Sun Shuttle Exceeds City’s Expectations”Hollywood Gazette) was in the headline of an article a few months after the service started and the service, team and technologies have continued to improve ever since. Not only is the Sun Shuttle exceeding the City’s expectations, together we’ve crafted a service that is exceeding the performance of nearly every other On-Demand service in the country. Since starting, other new vendors have come about and new technologies have been introduced, but when comparing ridership, ridership per vehicle hour, rider feedback and the cost per rider, there are few, if any services, run by other operators that have been able to achieve the demand and performance that we have in Hollywood. We’re committed to the City and committed to improving the Sun Shuttle for years to come. B1.1 Service Planning, Research and Analysis We've spoken with our Managers, Supervisors and Driver Ambassadors, surveyed riders, analyzed our historical data, and are confident that we can continue to deliver, and improve upon, a successful mobility option for the residents, visitors and community members of the City of Hollywood as we have since 2019. With 12 years, 190 vehicles, 9 states and 24 cities of operations, Circuit brings its national experience and network to the benefit of each City it works with. Our roots are in South Florida and specifically Broward and Palm Beach counties, where we have operated since 2011. Based on RFP Exhibits A and B, and the desire to operate three separate micro-transit zones, we have designed a service that is supportive of the City's goals, will continue to partner with the business community, is user friendly for the residents and visitors and complementary to the City's upcoming fixed-route community shuttles. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 7 of 123                            131 B1.1.1 Existing Services in Hollywood and South Florida Since 2019, the City of Hollywood has partnered with Circuit to provide a 100% electric micro-transit solution for residents and visitors. For just $2 per rider, the Circuit-operated Hollywood Sun Shuttle takes riders anywhere within the coverage area zone through our on-demand app or by waving down a driver. Hollywood has been a model city in the region and the services have been highly utilized and immensely popular among riders in the community. For more information on the existing service, please see below: Hours of Service ●Monday:1000am 900pm ●Tuesday:1000am 900pm ●Wednesday:1000am 900pm ●Thursday:1000am 900pm ●Friday:1000am 1000pm ●Saturday:1000am 1000pm ●Sunday:1000am 900pm Total hours of operation/week: 79 Vehicles ●Eight 5Passenger 6 seat) GEM Vehicles available during the Summer Months ●Ten 5 Passenger 6 seat) GEM Vehicles available during the Winter and High Season Months ●One ADA 3 Passenger 4 seat) GEM Vehicle available year round ●One 12Passenger 13 seat) Ford ETransit Electric Van Drivers/ Ambassadors: ●19 Total Staff, 14 of which are Hollywood Residents City of Hollywood RFP04523SK for Citywide micro-transit Services Page 8 of 123                            132 ○7 Full Time ○12 Part Time Ridership: ●Total Riders/Month (past three months since RFP March 2023 submission) ○Jan 2023 11,070 ○Feb 2023 11,803 ●Average Riders/Ride (past three months since RFP March 2023 submission) ○Jan 2023 1.75 ○Feb 2023 1.88 ●2022 Total Ridership in Hollywood 146,710 riders! Note: These are logged riders and may skew 814% below the actual ridership Fare: ●Free (from launch in April 2019 to April 2021 ●$1 (started April 2021 ●$2 (started April 2022 to Present) ●$18,399 (returned/credit to City of Hollywood in February 2023 Coverage area: FEBRUARY 2023 HEATMAP CURRENT GEOFENCED SERVICE AREA Western Hollywood Pilot Service Expansion- starting March 13 2023 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 9 of 123                            133 Upcoming March 2023 Western Hollywood Service Expansion Pilot Circuit,at no additional expense to the City, and in an effort to further support understanding Hollywood travel patterns, is working with the City Engineering department to conduct a pilot program using EV vans and our existing rider app to offer service west of our existing coverage area. If selected for the RFP we hope to leverage the information from this pilot to better inform the structure of future MTZ Zone 3 services. B1.1.2 Local Research, Current Hollywood Sun Shuttle, and Discovery After reviewing the details of the RFP, we immediately began our planning and analysis process. Fortunately, with four years of operating experience in Hollywood, FL, we were able to leverage feedback from our existing riders, driver ambassadors and the local business community, our review of the RFP and the Counties transportation systems, and use historical data from our Circuit on-demand rider and driver applications as well as our growing and evolving data reporting dashboard, to inform what we believe are the best options for the community within the parameters of the RFP. What We’ve Learned from Our Riders, Drivers and the Local Business Community City of Hollywood RFP04523SK for Citywide micro-transit Services Page 10 of 123                            134 In evaluating this opportunity, we started with the community. We hit the streets, spoke with Driver Ambassadors, rode along with our riders, and reviewed rider feedback from our application and our rider surveys: Feedback from our drivers ●We are the “tour guides” for the city! Our Driver Ambassadors know Hollywood, and we help bring people back to Hollywood. The resorts, hotels, businesses, all rely on us to help drive business. ●Residents would like us to expand to additional areas, including areas further West. ●More Circuit cars on the road- leading to faster pick up times and less delays! ●There are four major categories of people who use this service. ○Senior population 65relies on Circuit to get to the grocery store, post office, pharmacy. Some do not have cars and are on fixed incomes. They need Circuit more than ever, we have developed trust with many Hollywood seniors, and they’ve come to rely on the service. For some, it is a necessity for them. ○Tourists and visitors often say “I wish I had this in our city! Many report to us that they love using the service; knowing Circuit is there gives visitors a peace of mind, that is why they love coming back to Hollywood and exploring the Downtown area. ○Residents and commuters who use Circuit to get to work every day. ○Local residents use us to get to the beach and businesses downtown as a hassle and drive-free option. Feedback from riders ●“Keep Circuit going. Your drivers are very nice. Circuit is much needed and much appreciated.” ●“Circuit prevents a lot of DUIs, accidents, and potential loss of life.” ●“Circuit is one of the things that makes Hollywood great ” ●“I enjoy Circuit. I love it when it's a nice day to just sit and relax while someone else drives.” ●“Circuit is great, I love having the windows-down, casual transportation option.” ●“With Circuit, I never have to worry about sitting in traffic with my car. I take it to/from my home to downtown and the restaurants at the Boardwalk, all while helping the environment- no gas! I love it!” ●“Circuit is a blessing for me. I don’t have a car and I’m handicapped, so I’m limited in my ability to walk distances. Circuit allows me to go grocery shopping, run errands, and even go to the beach. Im super grateful- we need more Circuit everywhere- protect our earth from car pollution and continue to offer low cost rides. Thank you.” Feedback from local business community ●“Circuit is a great addition to the community helping locals and tourists safely move around the city in an eco friendly manner. During the COVID19 Pandemic, Billy's stone crab and Circuit teamed up for deliveries to help people during quarantine. Thank you for your amazing services and helping our community!” Billy’s Stone Crab ●"We are very pleased with the results of our marketing efforts with Circuit. The combination of a wrapped vehicle along with conscientious coupon distribution by the drivers has been very effective for Rita's of Hollywood." Jody Ralfkind, Rita’s, Marketing & Community Outreach Director Letters of Support- Hollywood Riders City of Hollywood RFP04523SK for Citywide micro-transit Services Page 11 of 123                            135 In addition to the Business Support Letter, Circuit recently also published a “Letter of Support” that went out to Hollywood Sun Shuttle riders. The document received over 122 signatures, ranging from residents 72, visitors 40, local business owners 7, and others 3. Please view Appendix 1 to reference the Letter of Support Riders) and Signatures. Letters of Support- Local Businesses We’ve received numerous Letters of Support from local businesses which can be seen in Appendix 1.2 Hollywood Sun Shuttle Rider Survey We conducted a survey at the end of 2022, prior to the RFP being released and to obtain qualitative feedback from riders in Hollywood. The survey received 700 responses from South Florida Circuit riders and 141 of these respondents noted that they use Circuit primarily in Hollywood. Based on the questions and responses we learned: ●94% responded “Yes” to the question “Do you think Circuit is a good addition to your community?” ●81% responded “Yes” to the question, “Does Circuit help you save money on transportation?” ●88% responded “Yes” to the question “Would you like to see more Circuit cars in service?” We were also excited to see the large number of respondents that used the service to go to Grocery Stores, Restaurants, Local Stores, and other areas of commerce. Based on our assessment and analysis of weighted average “spends” in these types of businesses, current ridership and industry publications2, we can confidently say that the service contributes to over $350k/month in economic activity. 2 https://www.apta.com/research-technical-resources/research-reports/economic-impact-of-public-transportation-investment/ City of Hollywood RFP04523SK for Citywide micro-transit Services Page 12 of 123                            136 February 2023 Data Analysis from Existing Sun Shuttle and Methodology From this February 2023 Data Review we learned: ●Top 5 Pickup Locations and Dropoff located continue to skew towards serving leisure riders ●49% of the monthly rides were “pooled” meaning there are more than one group per ride. This is a key component to combating congestion and a key feature of the Circuit App. ●The busiest time of service is 3pm-6pm, however some riders have indicated they’d like to be able to use the service to commute in the morning In February 2023, the top five drop off and pick up areas for the Hollywood Sun Shuttle overwhelmingly showcased ridership patterns that riders are using the Sun Shuttle for shopping at Publix and for leisure trips to and from restaurants downtown and the beach. As showcased below in ridership broken down both hourly and weekly, weekend trips see the busiest service days with service dipping on Wednesdays. Ridership sees daily peak times between 2pm and 6pm, and begins to drop off by 7pm. February 2023 Ridership Average Weekday Ridership City of Hollywood RFP04523SK for Citywide micro-transit Services Page 13 of 123                            137 February 2023 Ridership Average Hourly Ridership February 2023 Heatmap Top Five Pickup Locations Feb 2023 Address 1 Margaritaville Hollywood Beach Resort 2 Publix Supermarket at Hollywood Circle City of Hollywood RFP04523SK for Citywide micro-transit Services Page 14 of 123                            138 Address 3 Mobility Hub 320 Johnson St. Hollywood FL 33019 4 Beach Pickup 1111 N Ocean Dr. Hollywood FL 33019 5 The Diplomat 3555 S Ocean Dr. Hollywood FL 33019 Top Five Drop off Locations Feb 2023 Address 1 Margaritaville Hollywood Beach Resort 2 Publix Supermarket at Hollywood Circle 3 GG’s Waterfront Ocean Resort 4 Twin Peaks Hollywood Blvd 5 DoubleTree Resort by Hilton Hollywood Beach In determining expected ridership and number of cars needed, Circuit’s team analyzed past and current Sun Shuttle data, in contrast to the given upcoming Community Shuttle routes and schedules, to determine the best service hours for the MTZ zones, and how this will impact fares and net costs. Circuit can use this data to help the City and County in crafting community shuttle routes and stops. Circuit, if the City is interested in pursuing this option, can also set up predetermined pickup and dropoff spots around the zone that align the upcoming stops for the community shuttle routes. Example: Red Line Route from Exhibit A of the RFP Left) and a heatmap of common pickup and dropoff areas from Circuit’s database Right). B1.2 Our Project Plan City of Hollywood RFP04523SK for Citywide micro-transit Services Page 15 of 123                            139 Circuit understands the City’s Goals for this RFP and we have crafted a program that meets the needs of the community and is confident that in partnership with the upcoming Community shuttles, the Hollywood Sun Shuttle will continue to support mobility options and reduce traffic congestion. We're one of the few providers with experience operating numerous electric vehicles (and types of electric vehicles) as part of the same fleet. The existing Sun Shuttle’s fleet includes standard and ADA GEM Neighborhood Electric Vehicles NEVs) and Ford ETransit EV Vans. Expanding upon our existing fleet of electric vehicles, existing team of local W2 driver ambassadors, and the Circuit on-demand rider and driver mobile applications, Circuit is prepared to continue to deliver best in class services for the City of Hollywood, as detailed in our operating plan and alternative plans listed below. B1.2.1 Proposed Operating Plan: Circuit is willing and eager to run a program that is designed to meet all of the requirements of this RFP. Additionally, as detailed in the alternate options below, Circuit would like to work with the City to explore what modifications to the service details, operating hours, vehicle types and coverage areas can be adopted in an effort to maximize cost savings, the effectiveness of the on-demand services and to promote ridership on the fixed route Community Shuttles.Circuit is also willing to pilot new areas of Hollywood to test and determine needs, usage and long term feasibility of the respective communities. Following the guidelines set forth in the RFP, Circuit will structure a service that adheres to the City’s vision, however Circuit has also offered a few alternative options for consideration. If selected, the Circuit team would love to work closely with City staff and local stakeholders to review and refine the operating plan as desired, to best meet the needs of the community within the available budget. These plans can all be adjusted and it is our hope that these examples provide further context around what modifications might be considered. Proposed Operating Plan Quick Facts: ●Total Hours Per Week:56 ●Total # of EV Vans 4 ●Total # of GEM NEV Cars:2 NEV 1 Standby ADA NEV at no additional cost to the City 3 ●Expected AVG Fare/Rider:$2 ●Structured:3 Separate Zones ●Notes:This option is based on the hours indicated by the RFP, broken out by the zones indicated in the RFP and within the range of the current service budget. This service would reduce the number of hours compared to the current operation. Days & Hours of Operation Based on our existing data we propose the following service hours per zone. Based on seasonality and demand patterns we can amend these hours as needed or at the request of the City of Hollywood. ○MTZ Zone 1 Seven days a week, eight hours a day 12 8pm ET ○MTZ Zone 2 Seven days a week, eight hours a day 12 8pm ET ○MTZ Zone 3 Seven days a week, eight hours a day 10am 6pm ET City of Hollywood RFP04523SK for Citywide micro-transit Services Page 16 of 123                            140 Coverage Areas MTZ Zone 1 MTZ Zone 2 MTZ Zone 3 *Note: MTZ3 could be extended in the northeast corner to include service for the Hollywood Tri-Rail Station City of Hollywood RFP04523SK for Citywide micro-transit Services Page 17 of 123                            141 Vehicles Seven 7 Vehicles in Total ●Three 3 Ford ETransit EV Van ○Electric Vehicle ○Model year 2022 or newer, all weather ○12 passenger seats + driver, 0 ADA positions ●One 1 Wheelchair Accessible Ford ETransit EV Van ○8 passenger seats + driver, 1 ADA position ○Flexible to move to any of the MTZ’s when and ADA trip is requested ●Two 2 GEM e6 Neighborhood Electric Vehicle) NEV vehicles ○Electric Vehicle ○Model year 2020 or newer, all weather ○5 passenger seats + driver, 0 ADA positions ●One 1 Wheelchair Accessible GEM NEV vehicles Bonus No Additional Cost) ○Electric Vehicle ○Model year 2020 or newer, all weather ○3 passenger seats + driver, 0 ADA positions Vehicle allocation by zone ●MTZ 1 1 Ford eTransit EV Van, 1 GEM NEV ●MTZ 2 1 Ford eTransit EV Van, 1 GEM NEV ●MTZ 3 2 Ford eTransit EV Vans ●Total 7 6 Vehicles + 1 Extra Standby ADA NEV One Ford EV Van is a Wheelchair Accessible Vehicle WAV with eight passenger seats including the wheelchair, as well as one ADA GEM with four passenger seats including the wheelchair. The ADA Van will be available to move between zones as needed. As we already have a Sun Shuttle branded Wheelchair Accessible GEM car in the market we would bonus that vehicle at no additional cost to the City. Per our existing Sun Shuttle ridership data, we see 68 WAV requests per month on average. For this program, we propose all-electric GEM e6 vehicles and Ford ETransit EV Vans- one of which is wheelchair accessible WAV . These cars will operate in a demand-based coverage area with point to point service where riders can request a ride to/from any location within the geo-fenced service map. These vehicles allow for easy boarding and Circuit’s pooling algorithm will further reduce single occupancy vehicle trips by linking riders headed in the same direction, with parameters specified in coordination with the City. For further information about these vehicles and their specifications and capabilities please refer to Section B3.6 Vehicle Capabilities. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 18 of 123                            142 Fares Historical Information Sun Shuttle initially started as free to the user. In April of 2021, at a renewal of the contract, Circuit was asked to implement a $1 fare to control demand and offset some cost to the City. In April of 2022 it was decided to increase the fare to $2 per rider after the initial success of the fare implementation. Fortunately, we found that the fares did not negatively impact total ridership, and in fact led to higher efficiency due to reduced cancellations from riders. The Sun Shuttle service has been incredibly popular, so there are times where demand outweighs supply and wait times begin to climb. The fare program is a valuable tool in controlling demand and reducing cancellations. Proposed Fare Rate Confidential) The $2 rate continues to be met with little resistance, has helped efficiency, and reduced frivolous trips. We are confident that for this expanded service $2 would continue to be an appropriate fare, with the potential to increase to $3 per rider for on demand service. It could be capped at a set amount so that large groups are not paying $12 or $15 but rather cap the group fare at $7. Additionally, Circuit is building a zone pricing feature in its app so that it will be able to offer the City the option to adjust pricing based on zones. For example, the structure could be set that within a single zone the fare is $2, however if you travel between zones it increases to $3. There is also the option to provide free rides via promo codes. Hollywood riders could ride free in September, for example. Partnership with the Local Business Community We appreciate the City's intentions to tie in with the local business community and we've demonstrated our ability to work with local businesses in Hollywood, working with partners like The Water Taxi, Billy’s Stone Crabs, the Hollywood CRA to promote local events such as Art Walk, Hollyweird and Dream Car Classic, and other local stores, restaurants, and attractions. We've also built a system where we can pre-sell discount/promo codes to businesses so they can offer those codes to their customers. For example, Rita’s is one of our current advertisers, and we can provide “discount coupons” to riders, driving business to the local Rita’s stores. This concept has been well received and we will make an effort to review this, and other ways to encourage buy-in from the local business community through targeted marketing campaigns and activities. We also work with the City of Hollywood and their Marketing team on awareness and education activations, such as the “Turtle Nesting” campaign from March 2023 October 2023. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 19 of 123                            143 Grocery Distributions (during COVID, in partnership with Feeding South Florida City of Hollywood RFP04523SK for Citywide micro-transit Services Page 20 of 123                            144 B1.2.2 Alternate Options for On-Demand Services Our alternative approaches are explained in more detail below, and have the capabilities to make the micro-transit service more robust and cost effective. While increased services may increase total costs, these services allow the City to get more “bang for the buck”. Circuit is prepared to operate the service in adherence to the RFPs specifications as we have laid out in our proposed operating plan, but we wanted to bring to the City’s attention our alternative approaches as a means to serve more riders and provide a connection to other communities and mass transit. B1.2.3 Alternate Operating Plan A The 1st element of the proposed alternative plan involves joining MTZ 1 and 2 in an effort to provide more circulation along the barrier island and around downtown as well as seamless connectivity between downtown and the beach. Coverage Areas Alternate combined MTZ1 & 2 to service the barrier island and downtown and to connect both later in the evening after some Community Shuttle routes ceases operations at 5pm City of Hollywood RFP04523SK for Citywide micro-transit Services Page 21 of 123                            145 Alternate MTZ3 service area to include Hollywood Tri-Rail station and the option to extend to Memorial Regional Hospital Alternate Option A Quick Facts: ●Total Hours Per Week:79 ●Total # of EV Vans 4 ●Total # of GEM NEV Cars:2 NEV 1 Standby ADA NEV at no additional cost to the City 3 ●Expected AVG Fare/Rider:$2 ●Structured:MTZ 1 and MTZ2 become combined into a bigger zone with 2 EV Vans and 2 GEMs. MTZ 3 remains as its own zone, with slightly adjusted coverage area to include Tri-Rail and Memorial Regional Hospital, serviced with 2 EV Vans. ●Notes:This option is based on the existing hours of service. This option increases the total hours of service, compared to the proposed option and hours identified in the RFP, by approx 41%, while only increasing costs by approx 22%. B1.2.3 Alternate Operating Plan B Alternate Option B Quick Facts: ●Total Hours Per Week:79 ●Total # of EV Vans Peak Season): 4 ●Total # of EV Vans Low Season): 4 ●Total # of GEM NEV Cars Peak Season):2 NEV 1 Standby ADA NEV at no additional cost to the City 3 ●Total # of GEM NEV Cars Low Season):2 NEV 1 Standby ADA NEV at no additional cost to the City 3 ●Expected AVG Fare/Rider:$2 ●Structured:MTZ 3 remains as its own zone, with slightly adjusted coverage area, MTZ 1 and MTZ 2 become combined into a bigger zone. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 22 of 123                            146 ●Notes:This option is based on the existing hours of service. This option increases the total hours of service, compared to the proposed option and hours identified in the RFP. With this option, Circuit will add additional GEM Vehicles to the Hollywood market for the 6 busier months of the year and then will remove the cars from the market during the other 6 months. Circuit will cover the costs for adding and removing the vehicles and will cover the carrying costs of the vehicles not in service, at no expense to the City. Based on the current volume of riders, Circuit feels it’s necessary to add additional vehicles to the market. B1.2.4 Alternate Operating Plan C Alternate Option C Quick Facts: ●Total Hours Per Week:79 ●Total # of EV Vans Peak Season): 4 ●Total # of EV Vans Low Season): 4 ●Total # of GEM NEV Cars Peak Season): 2 NEV 1 Standby ADA NEV at no additional cost to the City 3 ●Total # of GEM NEV Cars Low Season): 2 NEV 1 Standby ADA NEV at no additional cost to the City 3 ●Expected AVG Fare/Rider:$3 ●Structured:MTZ 3 remains as its own zone, with slightly adjusted coverage area, MTZ 1 and MTZ2 become combined into a bigger zone. ●Notes:This option is based on the existing hours of service. This option increases the total hours of service, compared to the proposed option and hours identified in the RFP. With this option, Circuit will add additional GEM Vehicles to the Hollywood market for the 6 busier months of the year and then will remove the cars from the market during the other 6 months. Circuit will cover the costs for adding and removing the vehicles and will cover the carrying costs of the vehicles not in service, at no expense to the City. Based on the current volume of riders, Circuit feels it’s necessary to add additional vehicles to the market. Furthermore, Circuit will set up a new pricing model that will adjust rider pricing by zones. For example, a ride from Zone 3 to Zone 1 might be $4, but a ride within Zone 2 might be $2. This dynamic pricing model will also be structured to incentivize larger groups and increase efficiencies. With this option, as with any of the options, Circuit can work with the City to explore predetermined pickup and dropoff spots, using the Circuit Connect Smart Spot approach, adjusting pricing models for fares, zone-based pricing to adjust prices, and or a combination of these features. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 23 of 123                            147 Alternate Option C Zone Mtz-1 & 2 With Smart Stops* *Actual location of Smart Stops TBD, Circuit has highlighted some popular drop-off and pick-up locations Alternate Option C Zone Mtz-3 With Smart Stops* *Actual location of Smart Stops TBD, Circuit has highlighted some popular drop-off and pick-up locations City of Hollywood RFP04523SK for Citywide micro-transit Services Page 24 of 123                            148 B1.2.2 Drivers Circuit will leverage its existing team of experienced W2 employee Driver Ambassadors, Local Managers and Supervisors in Hollywood,ensuring service performance and company operational standards. 14 of the 19 current Hollywood Driver Ambassadors live in the Hollywood community and all Driver Ambassadors have experience operating in the proposed micro-transit coverage areas. As a reminder to the City, all of Circuit’s qualified W2, local, screened and background-checked Driver Ambassadors are a critical part of Circuit’s proposed approach to this project. Circuit has built a successful, proud team in the City of Hollywood, and hopes to use and expand this team going forward. The average tenure of our Hollywood staff is 21.8 months. Drivers are required to speak fluent English and several are bi-lingual, many also speaking fluent Spanish. Many of our drivers in Hollywood have been working in the community for multiple years, live locally and have become true ambassadors of the area. This local experience is not something that can be taught or trained and has continued to become more valuable in delivering the best quality of service for the City. For more details on our driver training, qualifications and certifications,please see section B4, below. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 25 of 123                            149 Circuit’s Hollywood team, fleet of event-ready GEM NEVs, 100% Electric Vans & Teslas at Safe Streets Summit 2023 B1.2.3 Technology Since the Sun Shuttle’s launch in 2019, Circuit has used our custom proprietary mobile app to move over 500k riders.Throughout Sun Shuttle’s lifetime the service has gone through 25 app upgrades to improve bug fixes, integrate fares and deliver smarter routing capabilities. Circuit’s tech team has continued to grow, improve and roadmap new features and enhancements for 2023 and 2024. Current version of the mobile app in Hollywood, including ADA request option, 2023 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 26 of 123                            150 Circuit was able to integrate fares and user payment profiles into the app in March 2021 when the service went from fare-free to $1, and again in March 2022 with the $2 fare increase. More details, including a deeper dive into Circuit’s Technology is available in Section B3.5 Technological Capabilities. B1.2.4 Timeline With robust infrastructure already in place such as experienced Hollywood Management, Supervisors, Driver/ Ambassadors, support from local Corporate staff, vehicles and maintenance, parking and charging, Circuit can seamlessly transition from existing services in Hollywood to this updated program. CIrcuit has direct access to the manufacturer and can add additional vans (beyond the current pilot with vans), within 30 days. Currently the Sun Shuttle program has been extended through July 2, 2023. Circuit is comfortable committing to operate the new service starting on, or if needed, prior to the existing contract ending. B1.2.4 Project Team and Organizational Chart Project Team Qualifications Partner/ Project Manager Jason Bagley -Jason is a National Partner at Circuit, has over 12 years of experience operating similar services in South Florida and would be the primary contact for this program. He controls all South Florida operations and comes at no cost to the City of Hollywood. Jason currently oversees Circuit’s national fleet operations for 190 vehicles and our operations with 60 vehicles in Palm Beach, Broward, and Miami counties. Jason has been operating 100% electric shuttle services in Broward County since 2011 and with his fleet expertise spends time consulting the GEM corporate technicians on vehicle diagnostics and new solutions. He will be the lead in preparing for and launching operations and will oversee local managers during operation, oversee ongoing maintenance, and coordinate any changes to service such as service expansion. He has been an integral part in launching service in several markets, as well as assisting in managing operations across the country and focusing on national quality control. Before joining Circuit in 2012, he worked as a Regional Manager for a full service National Parking and Transportation Company. He received his BA in Communication from Florida Atlantic University. Jason is based in Fort Lauderdale and is active in the community. Public Partnership Manager Alana Wortsman -Alana brings 13 years of experience in the nonprofit sector, helping to create more sustainable communities. At Circuit, she now helps manage the public-private partnerships in South Florida. Alana works with current service cities on community engagement, events, public affairs, grant opportunities, and marketing materials. Alana was born and raised on Long Island, NY and has a Communications degree from SUNY Oneonta. Alana now resides in Hollywood, FL as her place to call home. For fun, you can catch her riding her bike down Hollywood Broadwalk or running with her dog along A1A. Regional Manager Camille Santiago Manages hiring, onboarding and scheduling for all South Florida operations and comes at no cost to the City of Hollywood. Camille currently oversees and schedules roughly 35 managers, supervisors and drivers in Palm Beach and Broward counties only. Her background City of Hollywood RFP04523SK for Citywide micro-transit Services Page 27 of 123                            151 is Community focused relations with experience in transportation related industry. Manager and shift supervisor (explained below) onboarding is crucial to service success and having a dedicated manager with experience in multiple locations but at the same time hyper-focused in one area is crucial. Area Manager Bob McCure -Bob is currently an Area Manager overseeing all day to day operations of Circuit’s Broward locations. Bob has been with Circuit since 2015 where he started as a driver in Fort Lauderdale. His positive attitude, attention to detail and effective leadership has paved the way for several promotions over the years. Today, Bob manages Fort Lauderdale, Pompano Beach and Brightline Ft. Lauderdale locations and teams. Bob has used his experience in recruiting to successfully build and retain teams which has produced several supervisors and future location managers to keep up with company growth opportunities. Bob was born and raised in Plantation and now calls Fort Lauderdale home. CEO / Co-Founder Alex Esposito Started on a hunch that shared, electric rides would help alleviate parking congestion at the beaches, Circuit (formerly The Free Ride) has evolved into a last-mile mobility solution that’s embraced by cities across the US. He has 10 years of experience in on-demand electric micro-transit services. Prior to Circuit, Alex worked as a consultant for Accenture NYSE ACN and in marketing for Vistaprint Nasdaq: CMPR. He holds a BS in Finance and MBA from Bentley University. Alex has been a featured contributor at Smart Cities NY, LA CoMotion, 2020 Cities Boston, South Florida Safe Streets Summit, Urban-X and LACI. He’s been recognized as a Forbes Next 1000 Entrepreneur and a Association for Commuter Transportation (actweb.org) 40 under 40 award recipient. Alex is based between Circuit’s Fort Lauderdale Office. COO / Co-Founder James Mirras Oversees all national operations and will work closely with Jason Bagley to plan and set up operations, hiring processes, tech improvements, reporting processes, metrics, and any additional requests of the City of Hollywood. James is the head of Operations and Finance. He has a total of 10 years of experience in transportation services similar to those requested by this RFP. Beginning in 2011, James started the Hamptons Free Ride (now Circuit) operations in East Hampton, Southampton and Montauk, NY. His attention to detail, people skills, and strong work ethic helped create a solid foundation that the company has been able to grow from. James moves between the company’s locations, focusing on business development, management training, vendor relations and overall strategy. James received his BS in Finance from University of Florida. After graduating in 2009, he worked for Morgan Stanley NYSE Transportation Development Coordinator Isabella Downes Isabella is a Transportation Development Coordinator at Circuit, supporting sales and partnership teams to launch on-demand 1st/last mile mobility solutions. Isabella has 5 years experience working to drive innovation between public and private entities. She has launched over 10 micro-transit services that are meant to act complementary to existing transit infrastructure or as stand alone services in light of no other transit options. Isabella has published two studies exploring transportation access in various US cities and the impact access has on socioeconomic development. Isabella holds a BA in Public Relations from Wayne State University and an MA in Sustainable Urban Development from DePaul University. In addition to her role at Circuit, Isabella serves on the Young Professionals in Transportation- NYC Board as the Director of Programs Co-Chair. She is very passionate about solving complex transportation justice issues. Head of Technology Tucker Costello Tucker is the Managing Director, Internal Development for Circuit. He handles internal business and technical development. He has over 5 years of experience in transportation services similar to those requested by this RFP. He handles new app deployments, City of Hollywood RFP04523SK for Citywide micro-transit Services Page 28 of 123                            152 including testing and ongoing support. He works closely with our operations teams to incorporate partner, driver, and rider feedback from our locations to ensure a seamless experience throughout our platform with timely and relevant updates. Tucker holds a BA from Skidmore College. Over a decade of hands-on hardware and software implementation has given him a deep understanding of how technology enhances our work. Tucker would handle the location deployment within the mobile app, testing and coordination with operations staff, handle features requests, and lead ongoing testing and technical support. In House Counsel Anita Chen -is counsel for business development. Anita received her BS in Finance and Marketing from New York University and her JD from Touro College Jacob D. Fuchsberg Law Center. Prior to law school, she worked at Bankers Trust Company in New York City as an associate in their commercial paper department. As a lawyer, she worked for LeBoeuf, Lamb, Greene & MacRae as a litigator representing clients including Lloyd’s of London, Prudential Financial and Barneys New York. After several years in the private sector, Anita joined Manhattan Legal Services representing low-income residents in New York City. She now counsels for many small-businesses including taxi medallion companies, real estate holding companies, bars and restaurants. Anita has been with Circuit since 2018. Organizational Chart B2. Environmental & Sustainability Benefits We understand and appreciate the City’s desire to implement environmentally friendly services to the City of Hollywood RFP04523SK for Citywide micro-transit Services Page 29 of 123                            153 community. With the Sun Shuttle, Hollywood was a first-mover in Florida as it relates to deploying electric vehicles into public services. With the current Sun Shuttle program, Circuit and the City are currently helping to avoid over 9 Metric TONS of GHG emissions per month. Circuit applauds the City of Hollywood for its committed, forward thinking and dedicated approach to solving last mile, congestion, and emissions challenges and the strong commitment to a sustainable fleet. Circuit remains committed to using only 100% battery electric vehicles. The vehicles are ideal vehicles for short-range, sustainable, about-town transportation and Our 100% electric fleet exceeds the RFP’s specifications for “environmentally friendly and sustainable vehicles”. Fortunately, impact is inherent in the service we offer. The more shared rides that we provide, the more emissions and vehicle miles traveled VMTs) are reduced. There will be a heavy emphasis on ridership and we will measure success based on metrics including but not limited to: total ridership, riders per ride, riders/hour, jobs created, connections to transit, customer experience, and GHG emissions reduced. High ridership shows us that riders are happy, the service is priced effectively and the design meets the needs of the community. High ridership also reduces the Cost Per Rider CPR. Single Occupancy Vehicles are bad for Cities. Circuit hopes that this program will continue to demonstrate how eco-friendly, shared and sustainable programs can help reduce the need for single occupancy vehicles SOVs), promote ridership on existing Transit, create jobs and reduce commuting costs, GHG emissions and VMTs. Electric first/last-mile micro-transit is a great option for all types of communities and has proven to be a success in Hollywood. Tracking the environmental benefits will be a priority moving forward and will help to unlock more funding from upcoming environmentally focused grant programs. Circuit has been fortunate to receive grants for environmental reasons including but not limited to our programs with NYSERDA, Clean Mobility Options Grants CMO, CARB Funding California Air Resources Board) and others. Circuit will track greenhouse gas emissions and tailpipe emissions reductions. We can provide estimates based on projections for vehicle miles traveled and FHWA and EPA metrics and constants for average vehicle miles per gallon by vehicle type and carbon constant for gasoline fuel. We can also generate these based on a shared ride model including ridership, average trip distance, and FHWA and EPA constants and metrics. B3. Vendor / Contractor Capabilities B3.1 Background on Circuit Circuit has enjoyed working with the City of Hollywood since 2019 to launch and operate the Hollywood Sun Shuttle. With over 11 years of experience, Circuit has established itself as a national leader in the on-demand, first/last-mile transportation industry and an experienced operator of fleets of EVS and NEVs. We have a currently existing fleet of 13 electric vehicles, and a team of 19 EV trained and W2 paid employees in Hollywood. Additionally, we have a corporate team already in place in Hollywood, Florida with expertise in national operations, marketing, advertising sales, technology, reporting, and expansion. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 30 of 123                            154 Our corporate team has extensive experience in planning, designing, implementing, reporting, and maintaining NEV micro-transit programs and has operated programs similar in size and scope to this RFP, including fare-based systems. Our high customer satisfaction ratings and high demand are a testament to the superb customer service provided by our driver ambassadors and management. Circuit prides ourselves in closing first / last mile gaps and providing an enjoyable and safe rider experience. This encourages riders to avoid using single occupancy vehicles or private rideshare services that add congestion and pollution, as we have seen in Hollywood since the launch of Sun Shuttle. Specifically, Circuit has been the most successful in: 1. Connecting riders with local destinations including local businesses, restaurants, nightlife, transit, and parking 2. Encouraging ridership and ridership on other forms of transit 3. Forming public private partnerships PPPs) with cities, developers, entertainment and sports complexes, and local agencies to craft services for hyper-localized coverage areas 4. Building local, trained, w2 and background-checked teams that maintain a level of quality control and understanding of the area creating an enjoyable customer experience. B3.2 General Company Information CONFIDENTIAL General Information Within the last five years, Circuit has operated similar on-demand shuttle services using all-electric vehicles in Florida under contract with government entities, including City of Hollywood, City of Fort Lauderdale, City of Pompano Beach, City of Wilton Manors, West Palm Beach Downtown Development Authority, and Palm Beach County Convention Center. We have a current service contract with Brightline Trains. We have also privately funded services in Miami, Pompano Beach, and Palm Beach Gardens. Circuit also has experience with FDOT funding requirements. ●Business Name:Circuit Transit Inc. (wholly owned Subsidiary of TFR Holdings Corp) ●Corporate Headquarters: 777 S Flagler Drive, Suite 800W, West Palm Beach, FL 33401 ●Phone Number: 6465043733 ●Website:www.ridecircuit.com ●Corporate Employees: 32 Full Time ●Driver Ambassadors: 360 ○Full Time: 159 ○Part Time: 154 ●Professional Staff: Circuit has 92 employees working in Broward County, with 19 in Hollywood. Circuit has a total 164 South Florida employees. ●Employee Retention: Quarterly Avg): 94% ●Local Hollywood Address:2031 Harrison St, Hollywood, FL 33020 Circuit has a current office in Hollywood Florida. If selected for the next iteration of the Hollywood Sun Shuttle service, Circuit will use the local office at Buro at 2031 Harrison St, existing vehicle charging and parking at Circ Residences/ Publix garage at 1780 Polk St and at Costa Hollywood Beach Hotel at 777 N. Ocean Dr. Additionally, Circuit has a nearby regional office at 501 E. Las Olas Blvd, Suite 200, Fort City of Hollywood RFP04523SK for Citywide micro-transit Services Page 31 of 123                            155 Lauderdale, FL 33301.Circuit has a Corporate office at 777 S Flagler Drive, Suite 800W, West Palm Beach, FL 33401 ●Business Incorporation Date & Location Circuit has been operating in Florida since 2011 through its wholly owned subsidiaries Eco Cab LLC and South Florida Free Ride LLC. Eco Cab LLC and South Florida Free Ride LLC were organized and formed in the State of Florida in 2008 and 2012 respectively. As a part of the restructuring of the companies, Circuit Transit Inc was incorporated in 2018 in the State of Florida acquiring Eco Cab LLC and South Florida Free Ride LLC. Circuit Transit Inc, previously TFR Transit Inc, is a wholly owned subsidiary of TFR Holdings Corp, which is incorporated in the State of Delaware. ●Local Business and Legal Status -Circuit Transit Inc is a C Corporation incorporated in Florida. Circuit Transit, with its affiliated operating companies, has been operating in Florida since 2011. Circuit is a local business with current operations in Broward County in nearby communities including Pompano Beach, Fort Lauderdale, and Hollywood as well as a partnership with Brightline. Circuit operates over 40 on-demand micro-transit services across the US. Circuit is the operator of the Hollywood Sun Shuttle, Pompano Beach Circuit, West Palm Beach Circuit, and Brightline+ shuttle services. ●Business Licenses, Permits & Certifications Circuit has all required documentation in place to operate the services described in this RFP in the State of Florida and has operated similar services in Broward County. ○EIN 824586300 ○DUNS 117547537 ○US DOT 3562459 ●State of Florida, Applicable Code & Regulations:Circuit is fully licensed and certified in the State of Florida at the time of submittal for the type of goods/services to be provided. Circuit understands the regulatory requirements for the services to be provided and has met them for other city contracts. Circuit can meet these requirements and will adhere to all applicable code regulations at the Federal, State, and City levels. Primary Contact Person:Jason Bagley, Partner, National Operations - jason@ridecircuit.com - 3054941612 Additional Points of Contact : ●Alexander Esposito CEO & Co-Founder - alex@ridecircuit.com ●James Mirras COO & Co-Founder - james@ridecircuit.com ●Isabella Downes Transit Development Coordinator- isabella.downes@ridecircuit.com 7344784732 Business Structure, Parent Company and Subsidiaries Circuit Transit Inc. is a wholly owned subsidiary of TFR Holdings Corp. Eco Cab LLC and South Florida Free Ride LLC are wholly owned subsidiaries of Circuit Transit Inc. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 32 of 123                            156 Evaluations and Reporting Staff Evaluations Circuit conducts regular management and staff performance reviews on a quarterly basis. During these sessions, we encourage the staff to also share their evaluation of the program and ways to improve service. We hire locally - our staff are part of the community they are serving. Their input and expertise is valuable, and we encourage this feedback loop. Managers also conduct monthly ride-alongs with drivers, providing an additional touchpoint for evaluation, feedback, and training. Leveraging Data to Improve Performance We use the data we collect to continually improve our services and increase system efficiencies and quality. We analyze this data to make operational improvements - not just for reporting on performance. That ensures continued improvement through real-time changes combined with the operational management structure Circuit puts in place. For more information on how we use data to improve our services and our technological data capabilities, please see Section B3.5 Technological Capabilities. Other Reports Maintenance, Customer Service Circuit can provide other reports and updates as needed by the City and can include these in regular monthly reports as well. Circuit uses fleet management software to maintain logs and important information about its fleet status and maintenance. Our internal team manages and logs customer service and feedback. We also can include spatial mapping, such as the report below. Current Projects: Circuit has experience operating electric micro-shuttle operations in 40 locations across 9 states, including: Florida Services Hollywood Pompano Beach Fort Lauderdale Wilton Manors West Palm Beach Palm Beach Miami Brightline+Fort Lauderdale, West Palm Beach, Miami stations) Gardens Mall Palm Beach Gardens) The Ben Hotel California Services San Diego Santa Monica Marina del Rey Venice Culver City Huntington Beach Inglewood SoFi Stadium NFL games, Super Bowl) Chula VistaLong Beach New York Services New Rochelle Williamsburg Brooklyn) East Hampton Southampton Montauk Amagansett Hauppauge Industrial Park Clean Air NY Pilot) New Jersey Services Asbury Park Belmar Shore Texas Services Dallas West Dallas Austin Houston Other State Services Boston, MA Plymouth, MA City of Hollywood RFP04523SK for Citywide micro-transit Services Page 33 of 123                            157 Circuit has been fortunate to work with a number of cities and private clients on many micro transit projects that are similar to the services being described in the RFP. To learn more about our past project experience please reference section B5.2 Past Project Experience. Experience, Awards and Recognition -Circuit has been fortunate to work with, learn from, and be recognized for various Micro-Transit Initiatives around the US. For more information on Circuit’s Experience, Awards and Recognition, please see Section B5.1.3 Micro-Transit Operations Experience. Experience with Drivers, Hiring, Training, Performance Please see more information about Circuit’s experience with a W2, employee driver workforce in Section B3.7 Driver Capabilities. B3.3 Financial Capabilities CONFIDENTIAL As shown by its experience in Hollywood, FL, Circuit has the financial capabilities to run, manage and scale this program. Circuit recently raised a Series A round of financing that was lead by Tribeca Venture Partners with additional investments by CitiBank3Impact Engine, Los Angeles Cleantech Incubator LACI’s Impact Fund and has previously received investments from notable investors including Urban-X, Third Sphere and the BMW Mini Group of North America. Circuit would be happy to provide more detailed evidence of our financial capabilities upon request. For general guidance, Circuit’s 2022 Annual Revenue: $15.5M USD B3.4 Revenue and Funding Capabilities B3.4.1 Advertising Capabilities Circuit is able to continue to offer third party advertising as an additional revenue option. Circuit currently offers a revenue share of advertising sold and executed on the service, and will continue to do so to lower the cost of the service for the City of Hollywood. Circuit has a successful history of planning, selling, and executing advertising campaigns for a variety of local and national advertisers with the City of Hollywood. The brand has a clean track record and is recognized as a reputable transportation company as well as a dependable media vendor. Advertising options include exterior vehicle wraps, interior digital displays, email/social campaigns, and product sampling. Circuit’s in-house ad-sales team has 45 years of combined experience designing, planning, selling and executing transit media campaigns. This advertising program can also help to promote local businesses, as we’ve seen by working with groups like Billy’s Stone Crabs, Ritas, and the Hollywood Golf Course. We see advertising as a way to reduce costs and provide a fun and engaging experience for the riders. We have found that brand sponsors improve the rider experience and the methods Circuit uses to advertise on behalf of its advertisers can also be used to market its services to future riders. Circuit has found that 3 https://www.prnewswire.com/news-releases/circuit-raises-11m-series-a-to-expand-ev-shuttle-business-301619296.html City of Hollywood RFP04523SK for Citywide micro-transit Services Page 34 of 123                            158 our parameters around appropriate ads align well with those of our partners, and the City would continue to have final say on what advertisements are allowed and what would not be permitted. Any advertiser and specific content would be submitted for City approval. Based on our confidence in securing advertising partners, Circuit has included a guaranteed discount to the City as further detailed in section B.10. Some examples of past campaigns are included in the images below. Local businesses advertising on Circuit vehicles in Hollywood, FL. B3.4.2 Fare Revenue Capabilities CONFIDENTIAL Circuit has experience operating fare-based services in Hollywood, FL. In 2021 Circuit implemented a low-cost fare into the Hollywood Sun Shuttle program. The $0 service moved to $1 and Circuit saw the total ridership continue to grow, despite the increase. Upon further investigation, Circuit learned that the lack of impact on demand caused by the fare was largely due to the large increase in TNC prices in the area. In this example, the average TNC fare was over 4X higher, for rides starting and ending in the area. Furthermore, the team found that fares had an impact in reducing cancellations from riders and therefore led to a more efficient system that moved more riders. This fare model has worked well and Circuit has regularly reported on these fares and used them to reduce the cost of the service to the City of Hollywood. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 35 of 123                            159 Circuit’s technology includes capability to charge fares on a flat fee basis as well as dynamic pricing, discount codes, and group rates. We have tested and proven technology, policies, and programs for offering fare-based programs. Our mobile app can accept payment via debit, credit, and prepaid cards. The application has the ability to charge a fee for service and has security in place to store encrypted credit card information via a third party integration with Stripe. For this program, Circuit will offer a flat fare of $2, keeping the fares consistent with how they’ve been structured in the past. Circuit has the ability to adjust this fare as needed, at the request of the City. Circuit can also “sell” promotional or access codes to local businesses so that they can prepay fares for employees and or customers. This approach can be useful in getting more financial support from the local business community and aligns with the City’s goal to make the program more financially sustainable. As part of the alternate options in Alternate Option C, Circuit has mapped out how increasing the average fare to $3 would impact the net cost of the service. Circuit, if the City is interested, can build a program that automatically adjusts fares based on the zones traveled to and from. For example, it might be $4 to go from Zone 3 to Zone 1, but only $2 to travel within a zone. Using this approach can increase the average fare collected per rider across the system. We can also cap the total fare per ride so adding additional riders will be less expensive than the first one. B3.4.3 Grant Sourcing Capabilities Circuit prides itself in our ability to help our partners source funds for initial launches, service expansions and to pilot new zones. Now, more than ever, grants are available to implement sustainable micro-transit systems that provide equitable and accessible transportation options that give way to environmentally forward thinking solutions. Our team, as we discover appropriate grant opportunities, will bring possible funding solutions to the City. Circuit has successfully secured grants and/or worked with Cities on grant programs in NY, CA, NJ and FL. Circuit has also been selected for and awarded grants from the State of California and State of New York with its municipal partners, including a recent Clean Mobility Options grant in 2021 and Clean Transportation Challenge Planning Grant for Electric Mobility in 2022. B3.5 Technological Capabilities CONFIDENTIAL Circuit’s custom proprietary mobile app for requesting rides available for Android and iPhone is available in both English and Spanish, with the ability to add additional languages to the platform as needed. Website: www.ridecircuit.com Apple: https://apps.apple.com/us/app/ride-circuit/id988052033 Android: https://play.google.com/store/apps/details?id=com.thefreeride.rider Circuit has developed its technology over the past 11 years and has built the technology with a variety of features that can be turned on and off, depending on the coverage area. Some of these features include approaches for smart spot locations vs fully on-demand, a pooling algorithm to maximize the utilization of the vehicles, dynamic fare models with flexible pricing and discount options, ADA accessibility and request features, Spanish language options, ratings and reviews and a number of other features. As the City is aware, our features have been built using feedback from riders, drivers and customers, utilizing the data generated across millions of rides. Since launching the Sun Shuttle service, we’ve introduced multiple new City of Hollywood RFP04523SK for Citywide micro-transit Services Page 36 of 123                            160 versions of the app every year and continue to strengthen our roadmap of new features and options. This process is ongoing as we consistently strive to create the best user experience for our riders and partners. Riders have consistently rated our services very highly, both in internal and external surveys as well as the app stores. We have a 4.8 rating on the App Store and a 4.5 on Google Play (out of 5 stars), distinguishing us as the highest rated service on the Google Play Store compared to other micro-transit and rideshare services. We are committed to excellent customer experience and long term success, and our customer service team replies to all reviews in the app stores. The app is designed specifically for running and managing these types of on-demand, last-mile EV shuttle services and has been built and optimized based on data gathered from over 5M rides along with rider and driver feedback. Our user app is complemented by our driver facing app and management dashboard - a technology suite that we built specifically for our neighborhood electric vehicle operations. Circuit owns the app, all of the data, and can provide robust data reports, often limited by firms using white-labeled solutions. This further allows the team to make customized adjustments as needed by the City. Our ability to collect, record, clean and present data is always improving as we believe data is a key factor in providing an excellent standard of service. Circuit has recently partnered with Snowflake to create new databases that will allow for faster reporting, more flexible data analysis, and better visualization of data. If selected, Circuit looks forward to sharing these new capabilities with the City. Our dynamic pooling feature has resulted in 30% increases in ridership using the same number of cars and operating hours. This is true when we measure against our own services (turning pooling on and off) and also true when compared to other operators nationally.Pooling not only increases ride efficiency, it also decreases traffic, emissions and cost-per-rider, where we’ve proven to be more effective than other service operators. Unlike many white label solutions, Circuit owns its technology and is able to quickly and flexibly make adjustments and improvements. We are constantly improving the service and adding new features, which would continue to be available to the City at no additional cost. As with other local operations, Circuit can adjust the service territory, hours of operation, and other factors in a timely manner during the planning or implementation stages as needed - such as adding new service territories, adjusting temporarily for special events, adjusting seasonally, adjusting fare, piloting new zones etc. We also have a system in place for notifying riders of any changes to service, including in-app messaging such as updates to safety protocols and emergency conditions (hurricanes, flooding, etc). B3.5.1 Ride Request App Circuit has a custom mobile application available for iOS and Android phones where rides can be hailed within a geofenced zone. This application is a fare-integrated service model and is very user-friendly. Within the app, the user can see information about the service, add payment methods, see the coverage area map, select their desired pick up and drop off within the geofenced coverage zone, input number of riders, and request a ride. They are shown the estimated wait time, the location of the assigned car while on its way, and are alerted when the driver is close. After their ride, they can give a rating. Drivers receive notifications of the requested rides. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 37 of 123                            161 The service territory is a geo-fenced coverage area that ensures rides can only be requested and completed within the service territory. Our team makes sure that these geofenced zones include exactly the territory desired and that riders can make a request anywhere within this zone. We can also exclude roads and highways with speed limits higher than 35ph within this zone to ensure vehicles are not dispatched to areas where pickup is not possible due to speed limits. Key Advantages of the App ●On-Demand; ●Ability to add pre-determined Smart Stops to reduce wait times in larger zones ●Data Tracked for Ridership, Reporting, Heat-mapping & Management purposes; ●Ability to notify riders of service disruption through multiple avenues. ●Ride pooling to reduce congestion and wait times. ●Fare Collection features with Discount Code Options ●Driver facing capabilities to communicate with riders via text and call prior to boarding the vehicle Circuit is working on several integration projects and can work with the City and County to integrate the Circuit rider app with other transportation applications, including applications that might be introduced with the upcoming fixed route community shuttles. B3.5.2 Driver App Capabilities Circuit’s driver app and proprietary dashboard is used to manage drivers and generate reports. Each of our drivers is provided a company phone to see ride requests, safely communicate with management and riders, and optimize routes. Our operations and technology teams work closely together to test new features and updates and fix any issues that arise. Our hailed ride feature enables drivers to track non-app-based requests through the driver app. With our pooling feature, multiple rides are able to be assigned to a driver and are viewable in a queue format to the driver. Circuit can work with the City for any desired technology integrations, and can provide any necessary performance and data reporting. Ride request heat map from Hollywood Sun Shuttle Program City of Hollywood RFP04523SK for Citywide micro-transit Services Page 38 of 123                            162 B3.5.3 On Demand Coverage Zones and the Smart Stop Approach For point-to-point service, a rider can go to and from any location within a geofenced coverage zone, typically focused on a small, localized coverage area. As mentioned in our alternative options, a capability of our technology includes the ability to set up a smart stop approach. The smart stop approach allows the rider to go to and from any predefined smart stop within a specified coverage area. A smart stop could be a predefined location at a school, transit hub, affordable housing community - or these could be spread throughout the community every few blocks, for example. We believe the smart stop approach is beneficial when covering larger service zones Circuit is flexible and able to adjust service before and after launch of services. As data comes in, Circuit can work with the City and the community to fine tune the service to best support the community shuttles in each zone. Please see below for a sample of proposed smart stops by zone. MTZ1 Smart Zone Stops ●The Diplomat Beach Resort,3555 S Ocean Dr. ●Harry Berry Park,301 Azalea Terrace ●Arizona Street (By Taco Shack, across from Billy’s Stone Crab) ●Charnow Park , 300 Connecticut S. ●Hollywood North Beach Park, 3601 N Ocean Dr. ●Walmart, 2551 E Hallandale Beach Blvd MTZ2 Smart Zone Stops ●Young Circle ●Publix, 1740 Polk St. ●Washington St. ●Hollywood City Hall, 2600 Hollywood Blvd. ●930 S 26th Ave. MTZ 3 Smart Zone Stops ●Publix Supermarket at Hollywood Mall, 3251 Hollywood Blvd. ●David Park Tennis Center,510 N 33rd Ct. ●Broward County South Regional Courthouse,3550 Hollywood Blvd. ●Orangebrook Golf & Country Club,400 Entrada D. ●Bob Butterworth Park, 5202 Washington St. ●Memorial Regional Hospital South,3600 Washington St. ●Washington Park,5199 Pembroke Road ●Harrison & S 56th Ave ●Sal Oliveri Veterans Park, 4701 Tyler St. B3.5.4 Using Data to Steer Service Operations Circuit has 4 years of information from our other shared, on-demand, electric shuttle services, allowing the team to utilize data from the Sun Shuttle, as well as other nearby Broward County operations and other comparable operations around the country. Consideration taken when forecasting ridership: City of Hollywood RFP04523SK for Citywide micro-transit Services Page 39 of 123                            163 ●Size of the Coverage Area ●Hours of Operations ●Marketing to grow ridership ●Input from local stakeholders ●Performance of Comparable Programs ●Other transportation in the area While our data, local outreach, analysis, and research provide valuable insights month over month, we understand there will be unknowns and that we must monitor data and work closely with local stakeholders to make sure that we continuously adjust and improve the service to make sure it’s set up for long-term success in the City of Hollywood, as we have done since Sun Shuttle’s 2019 launch. We have refined our approach and recommendations in close coordination with City and CRA officials. Circuit’s Data Dashboard, Analysis and Expanded Features Since starting the program in 2019, Circuit has delivered monthly data reports to the City of Hollywood. By leveraging data from upwards of 17,000 transactions in a month, we’ve developed a healthy data set that provides information on top pick up and drop off locations, insights into ridership broken down by service hour and day, and the ability to monitor ridership growth throughout the service's lifetime. The system has also gone through numerous updates over the years and we’re proud to share that in the last 3 months we’ve built a relational database that integrates numerous data sets to help with data visualization, analysis and reporting. If selected for the next phase of the Hollywood Sun Shuttle program, Circuit now has the ability to add additional licenses for our City partners. Our ability to collect, record, clean and present data is always improving as we believe data is a key factor in providing an excellent standard of service. Circuit has recently partnered with Snowflake to create new databases that will allow for faster reporting, more flexible data analysis, and better visualization of data. If selected, Circuit looks forward to sharing these new capabilities with the City. Our next iteration of data reporting is a great value add for operations and transportation planning, this dataset can be a particularly valuable asset for the Cities long term urban planning initiatives. There are examples of updated data reports in Appendix 2, below. Pictured here is an example of the new zone-based analysis and heatmaps that have already been built. B3.6 Vehicle Capabilities In line with the RFP’s desire to have a sustainable fleet, Circuit proposes to use the currently existing GEM E6 all-weather, 100%-electric cars from Polaris Inc and Ford ETransit EV vans. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 40 of 123                            164 Sea Turtle Nesting Season Artwork on GEM Neighborhood Electric Vehicle Neighborhood Electric Vehicle NEVs)Circuit will continue to use GEM E6 all-weather, 100%-electric cars from Polaris Industries. The slim and efficient design reduces interference with traffic and decreases passenger load time. The cars are ideal for short-range, about-town transportation. The cars are easily kept clean and are outfitted with comfortable seats, ample legroom, fans, 3-point seatbelts, cargo space, and a friendly, local ambassador/ driver. They include all-weather options, and Circuit operates these vehicles in South Florida markets year-round. The car’s design is fun and inviting in nature. Hollywood Sun Shuttle riders have responded very favorably to these vehicles. Ford E Transit Electric 13 Passenger Van Ford Electric Passenger Van There are a number of electric passenger van options that Circuit has used in other markets. There are OEM options as well as conversion technology options. Circuit has directly used Lightning Systems and Maxwell converted electric passenger vans. They are ideal for roads with speed City of Hollywood RFP04523SK for Citywide micro-transit Services Page 41 of 123                            165 limits above 35 mph, programs requiring higher capacity, suburban trips, and can be outfitted for ADA accessibility. ADA Service Vehicles We are able to offer one 1 Ford ETransit EV Van which offers a full automated lift and the ability to secure wheelchairs within the vehicle, and 8 total seats (as opposed to the usual 12, + driver). Additionally, we are able to offer one 1 WAEV Formerly Polaris) GEM e6 ADA vehicle which offers a full, fold out ramp and the ability to secure wheelchairs within the vehicle, and 4 total seats (as opposed to the usual 5 seats, + driver). Circuit is pleased to offer this vehicle to the City at no additional cost, as it is a part of the existing Hollywood Sun Shuttle existing fleet. Samsara AI Dash Cameras Circuit has recently installed Samsara AI bi directional Dash Cameras in the entire fleet of shuttles in Hollywood. These cameras use computer vision to analyze the road and driver behavior in real-time—making it possible to detect distracted driving and even warn drivers of an impending collision, helping prevent accidents before they happen. Any incidents of distracted driving or harsh braking events trigger an alert to “watchers” of specific vehicles. This group includes direct local management, Regional and Corporate Management. Circuit Management staff can view real time video and still views of the interior and forward facing exterior view of the entire fleet at any given moment. For any incidents the footage can be viewed and saved to determine fault of any accident. Samsara AI Dash Cam dashboard with both views, saved footage and trip details including trip route, duration and pick-up and drop-off locations. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 42 of 123                            166 B3.7.1 Vehicle Maintenance Capabilities Our in-house mobile service maintenance technicians are able to quickly respond to needs, and also adapt vehicles for the market. Vehicles are regularly maintained using rigorous checklists created in conjunction with the vehicle manufacturer. Typically, vehicles are inspected every 4,0005,000 miles and the condition of filters, brakes, etc. are tracked and replaced accordingly. Additionally, data is shared about the cars’ performance in order to forecast future maintenance needs. As it does with ridership, Circuit takes a proactive approach to planning future needs. Each vehicle within our fleet has a unique ID. Our operations team tracks vehicle characteristics and status through fleet management software and communicates this status to Regional Management and other corporate team members through shared documents and project management software. These characteristics and status include driver vehicle check forms, current and pending advertising campaign information if any, maintenance records, assigned operating location or special event, mileage, as well as general information such as color, make, model, year, features. Drivers check vehicles before and after each shift and fill out a vehicle check form. They perform cleaning duties before, during, and after their shift. Any issues are noted and reported to local managers, who coordinate maintenance and repairs. We have trained and certified maintenance staff in each operating region, and would train a local maintenance team in Fort Lauderdale to manage regular and ongoing maintenance for local operations, with manufacturer certification for the vehicles in use. B3.7 Driver Capabilities Circuit has a robust hiring and training program backed by standard operating procedures, driver manuals, and emergency and health & safety plans designed to provide high quality customer service through a fun and convenient on-demand service. As now with the current Hollywood Shuttle, Circuit will continue to ensure all drivers meet and follow the required guidelines as required by the RFP. As the City of Hollywood is aware, Circuit prefers to hire local w-2 Driver Ambassadors from within our service area who have local knowledge and experience. We focus on hiring drivers with high degrees of customer service and professionalism as well as local knowledge of the community, as our drivers are ambassadors for the local community.This model reduces greenhouse gas emissions by keeping workers local and supports the local community by providing jobs. Currently, 14 of our 19 Hollywood Sun Shuttle Drivers are Hollywood residents. You can find further details in the Driver Model section below. Quality Control is why we have successful operations throughout the country with several locations running for more than 5 years. We focus on recruiting, hiring, onboarding and training service oriented candidates with a strong driver safety record. Along with Driver Ambassadors we employ location Supervisors, Location Operations Managers, Regional Operations Managers and local corporate support. We use several training and monitoring programs including our own admin dashboard (backend of the Ride Circuit app) for a real time look at activity in the field - driver/ ambassador gps location, trip queue, availability status and rider reviews of the Driver/ Ambassador. Samsara AI Dash Cams provide a real look into the individual vehicles. Can record any video clips and alert the supervisor and management teams for any harsh events. Regular feedback and reviews by management to address any areas of concerns and give feedback. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 43 of 123                            167 B3.7.1 Driver Model Each Circuit location has a dedicated team of managers, supervisors and drivers to ensure service performance and Company operational standards. Circuit builds successful, proud teams and focuses on development and retention. Upon award of this contract, Circuit will be easily able to leverage our current driver ambassador team, and as needed, develop and provide a more specific staffing and personnel plan tailored to the final service scope. Please see below for the positions that are staffed to make up Circuit’s Driver and Fleet Team: ●General Manager / Operations Manager:Full time hired positions (depending on scope). Responsible for day-to-day operations, vehicles and staff. Reports directly to the Region General Manager. Direct reports are Shift Supervisors and Driver Ambassadors. Perform dispatch and customer service responsibilities as needed ●Shift Supervisor:Full-time hired positions. On-site at all times during service hours. Perform dispatch and customer service responsibilities as needed. Additional training and responsibilities. All shifts include at least 50% of shift driving in service. Shift reporting and “hand-off” submissions ●Vehicle & Warehouse Maintenance Manager:Circuit regional technician licensed and certified. Weekly, monthly & quarterly vehicle maintenance schedule. Direct contact with vehicle manufacturers and systems. Additional responsibilities, response, and reporting requirements as specified in this CFP. As needed, other operational staff may be trained and certified to assist Maintenance Manager with maintenance responsibilities ●Driver Ambassadors:Full-time and part-time employees Circuit hired, W2 employees). Living-wage pay and benefits. Follow Circuit operational policies and local rules for revenue service ●Driver Staffing:We first hire a base of full-time, set schedule drivers and then a base of part-time, set schedule drivers. We then hire a smaller group of fill-in drivers who do not have a set schedule but actively work each week to round out the schedule, either picking up any open shifts known in advance and/or fill in on call. We have a combination of longer shifts, allowing time for finishing rides, cleaning their vehicle, and checking out. We stagger and mix in shorter shifts throughout the day based on demand data learned over time to maximize efficiency. Circuit uses shift scheduling software to plan its staff schedules and make the process seamless for employees. What We Look For In A Driver Ambassador ●Outgoing, Inviting, Friendly ●Local Resident and/or Local Knowledge ●Safe & Responsible ●Customer Service experience ●Team oriented ●Self-Motivated with a focus on development ●Dependability Driver Requirements ●Legal:All Circuit drivers must be at least 21 years of age, have an active driver’s license for at least 3 years, and must have a clean driving record with no accidents or tickets. ●Insurance Clearance:Background Check: All Circuit drivers must be cleared to drive by our insurance carrier through Motor Vehicle Record and/or Background Checks. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 44 of 123                            168 ●Personality:Circuit employees are more than drivers. Everyone is an ambassador to both the Circuit brand as well as sponsor brands. We look for motivated, outgoing, excited and responsible employees to represent our brand. ●Pre-Hire Driver Exam:Potential hires lastly go through a physical driving exam accompanied by the Operations Manager. The Circuit Pre-Hire Driving Exam is submitted to the Regional GM for final approval. B3.8 Customer Service Capabilities Customer Service One of Circuit’s core values is customer experience. Circuit focuses on hiring drivers and operational staff that exhibit excellent customer relations skills and value experience in customer service. We include customer relations as a part of our training program, which includes updates to policies related to safety and responding to rider concerns. We hire locally and prefer drivers that are familiar with the local community to act as an ambassador as well as a driver. We are committed to excellent customer experience and long term success, and our customer service team makes a point to reply to all reviews in the app stores. Circuit currently maintains a local Hollywood and South Florida workforce of managers, shift supervisors, and driver ambassadors in its operating locations, which are all trained in customer service. Circuit also has a regional manager in place, who manages operational functions such as permitting, maintenance, vehicle procurement, vehicle and driver insurance onboarding, hiring and training across multiple locations to maintain a consistent level of quality and operating efficiency. They are also integral to preparing for and launching new operational locations as well as coordinating new app feature launches. Our local operating and management staff are available during operating hours, which vary by location and are determined in cooperation with local partners. Training for employees involved in customer service include on-the-job training using pre-existing SOPs and quick reference guides for template responses to a high majority of common questions. This covers training with guidance specific to phone, ride request app, and email inquiries as well as those that might take place in-person. These employees have direct supervisors to reach out to for approval on sensitive topics to ensure compliance. Training is a multistep process that begins with shadowing another employee, hands-on training with supervision, and continued ongoing training. We have a multifaceted customer inquiry, and contact system, which our staff are trained to use and keep accurate logs. Operational staff are also involved in our local community outreach efforts, including representing the company at local community events. All staff are trained to respond to customer needs and handle any complaints in a timely and courteous manner. Riders can submit feedback within the mobile application and through the website, email and by phone. Circuit’s national corporate team monitors these as well as social media accounts and app store feedback/ratings. The national team will direct users to a local manager if and when needed. We also conduct regular rider surveys to analyze and improve our service offerings. Our team continually works to make its technology and information about its services accessible broadly to the local communities it operates in. As mentioned in Section B3.5 Technological Capabilities, our mobile app is available in English and Spanish. We have bilingual drivers and can include hiring preferences City of Hollywood RFP04523SK for Citywide micro-transit Services Page 45 of 123                            169 for additional language capabilities. We have also created marketing materials in both English and Spanish. Circuit’s website and location pages include accessibility features, and our operations staff are trained in providing equivalent service and any additional assistance needed for riders with mobility impairments and disabilities. Our local teams can also assist riders in downloading the app, providing information about the service and the community, and responding to questions. Historically Circuit has seen driver ratings of at least 4.8/5 stars in all of its markets, and locally has an average of 4.9 over the past two months. Many of our services have a majority senior 65 ridership who use our services frequently for local trips and errands. Seniors have been strong advocates for our services. Our high ratings and strong local support are a direct result of the positive customer experience created by our drivers. Circuit will continue to provide updates and reports on Customer Service to the City as needed. B4. Driver’s Qualifications Hiring Process Each Circuit location has a dedicated team of local managers, supervisors and driver ambassadors to ensure service performance and Company operational standards. Circuit builds successful, proud teams and focuses on development and retention. We would be able to leverage our existing Hollywood and operational experience and infrastructure to quickly and efficiently continue to staff Sun Shuttle as needed. As the City of Hollywood is familiar, Circuit’s drivers are more than just drivers. They act as local ambassadors; representing the city, providing local knowledge and encouraging local business. All driver ambassadors will be provided with a company uniform and name tag. All Circuit driver ambassadors must be at least 21 years of age, have an active driver’s license for at least 3 years, and must have a clean driving record with no accidents or tickets. All Circuit driver ambassadors must be cleared to drive by our insurance carrier through Motor Vehicle Record and/or Background Checks. For this program, we would implement the required background check and provide any needed documentation to the City. As required, we will implement the required FDOT Drug & Alcohol testing. We have identified a Florida based company, Accredited Drug Testing where we would establish a company account for testing. Accredited Drug Testing uses Quest and LabCorp national collection site network. Circuit will always commit to a local hiring preference in all markets. One of the many benefits of hiring locals include ensuring staff are familiar with the location and can serve as a knowledgeable ambassador. 74% of existing Hollywood Sun Shuttle drivers are Hollywood residents. As we have done in Hollywood and other markets, along with posting job openings on popular platforms such as Indeed, we can work with local workforce development and job placement centers to source qualified local candidates as is needed by the service or to support any future expansions. Circuit currently has multilingual driver ambassadors in South Florida and is able to include bilingual/multilingual driver ambassadors as a local preference for hiring, if desired by the City. Driver retention is a factor that the company is proud of- there are happy teams, and advancement opportunities in every market of service. Over the past 12 months we have seen a retention rate of 94% for the Hollywood Sun Shuttle operation. This is the result of the diverse work environment that Circuit City of Hollywood RFP04523SK for Citywide micro-transit Services Page 46 of 123                            170 creates, the camaraderie among employees, the ability to grow, and the enjoyable, safe and fair management. As described in Section B3.7 Driver Capabilities, Circuit seeks specific driver qualities that ensure safety, professionalism, a focus on customer service, and knowledge of the City as a visitor destination. Circuit employees are more than drivers; they are ambassadors to the local community. Circuit conducts regular management and staff performance reviews on a weekly, quarterly and annual basis. During these sessions, we encourage the staff to also share their evaluation of the program and ways to improve service. We hire locally - our staff are part of the community they are serving. Their input and expertise is valuable, and we encourage this feedback loop. Managers also conduct monthly ride-alongs with drivers, providing an additional touchpoint for evaluation, feedback, and training. The management team has access to our proprietary management dashboard to view operations in real-time and regularly monitors the drivers’ performance. Circuit will offer these tools and data reports to the project team at the City, to maintain quality control, transparency and monitoring for future improvements. Additionally, Circuit uses scheduling software to keep the team connected, manage shifts, and enable local management to efficiently manage the local team. B4.2. Training Driver Training Program As the City of Hollywood is aware, Circuit employs and trains its operational personnel, including driver ambassadors. Circuit uses its successful developed personnel policies to create a hiring and safety program specific to the unique operation. The process includes hiring, background checks, drug tests, alcohol screenings, initial training, continued training and performance evaluations. We can quickly add drivers and vehicles to our national custom auto insurance policy. When the manager is comfortable with a candidate and decides to extend a job offer, they will be introduced to our staff training/development tools & programs. The hiring and training systems we have in place will help the City achieve its safety and accessibility goals with regards to this project while also ensuring a high quality customer experience, which encourages further ridership and exploration of the community. Circuit has a training program in place for new operational staff which covers safe and efficient operation of electric vehicles, cleaning and safety processes, and customer service. Circuit has a corporate operations team that develops and maintains operational policies and procedures including over 180 pages of Operations Manager and Driver Ambassador training guides and supports SOPS. They hire and train new managers and coordinate hiring and training for new drivers. Circuit has a Regional Manager in place for Florida. Drivers receive initial in-person training, are observed on ride-alongs, receive ongoing on-the-job training, and are updated on any new operational policies or procedures. Training is conducted by local managers and supervisors. Our teams have consistently met requirements from transit authorities and police/sheriff’s departments, in all of our markets, including Florida, for vehicle inspections and driver training and testing. We would institute our vehicle cleaning program to maintain the appearance and cleanliness of the vehicles along City of Hollywood RFP04523SK for Citywide micro-transit Services Page 47 of 123                            171 with the safety and health of the passengers and drivers. The management team has access to our proprietary management dashboard to view operations in real-time and regularly monitors the drivers’ performance. Circuit will offer these tools and data reports to the project team at the City, to maintain quality control, transparency and monitoring for future improvements. Additionally, Circuit uses a scheduling software to keep the team connected, manage shifts, and enable local management to efficiently manage the local team Our training program specifically covers: ●Safe operation of an electric vehicle ●Efficient operation of an EV, maximizing battery efficiency ●Advanced cleaning procedures ●Safety guidelines and policies ●COVID19 advanced safety and cleaning policies and procedures ●Customer service and passenger relations ●ADA regulations and operations ●Use of the Driver Mobile App ●Communications policies ●Emergency procedures and plan ●Accident reporting/procedures Circuit also provides ongoing training / retraining and conducts performance evaluations. Our teams have consistently met requirements from transit authorities and police/sheriff’s departments, including in Florida, California and New York, for vehicle inspections and driver training and testing. Along with the initial training program, monthly and quarterly management ride-alongs specifically focus on customer experience. Additional staffing lead time is roughly two weeks for hiring and proper in-car and classroom training. Circuit currently has 75 employees in Broward County that are available to fill in any gaps or decrease lead time while we hire local staff from the City of Hollywood. B4.2.1 Certifications In addition to our vehicle maintenance certifications, our teams also hold certifications in WAV / ADA sensitivity training, as well as the National RTAP National Rural Transit Assistance Program) Certification, which is part of the FTA’s, “2 The Point” training and certifications around ADA and Sensitivity, Defensive Driving, Distracted Driving, Drugs and Alcohol, Passenger Safety. Additionally, We have staff that have completed PASS Training Passenger Assistance, Safety and Sensitivity. We also have our vans inspected and permitted with Broward County as Vehicles for Hire. B4.2.2 Drug Testing and Hiring Standard Circuit recognizes the requirement to enroll the company staff in an FDOT approved drug testing program and have a supplier of such services available. Currently in Circuits Hollywood Sun Shuttle operation, drivers, due to the type of vehicles, are not required to obtain a CDL or to complete FDOT certification as the vehicles are all under 16 passengers. Accredited Drug Testing works with a local LabCorp facility at 3700 Washington St. in Hollywood. Circuit has obtained pricing and details to enroll the staff into the program, and is willing and capable to complete that requirement. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 48 of 123                            172 B5. Firm’s Qualifications and Experience Using teams of W2 Drivers, Fleets of 100% electric vehicles, and an on-demand app, Circuit has provided over 6M rides. As detailed in Section B3, Circuit is an experienced operator of Micro-Transit Services. Circuit will provide its turn-key micro-transit solution using a fleet of Ford EV vans and electric Polaris GEM e6 NEVs to meet the transportation, traffic reduction and sustainability objectives of the City of Hollywood. Circuit’s services can be expanded quickly, to implement the expansion of the service as set forth by the RFP. Circuit’s existing Hollywood, Florida Sun Shuttle service has proven to be cost efficient and effective in tackling the mobility challenges in the community. B5.1 Experience Overview B5.1.1 Experience Overview As referenced in Section B3.1, Circuit has over 11 years of experience as an established national leader in the on-demand, first/last-mile transportation industry and an experienced operator of fleets of EVS and NEVs. Currently we operate 40 services across nine states. We are experienced in operating under COVID 19 restrictions and guidelines to ensure the health and safety of our riders and staff. We have a fleet of over 190 electric vehicles, a team of over 340 EV trained and W2 paid employees, and a local team of over 92 employees in Broward County and 164 in South Florida. We're one of the few providers with experience operating numerous electric vehicles as part of the same fleet. For more information on our technology, operations and maintenance experience please reference section B3. Vendor / Contractor Capabilities. Our corporate team has extensive experience in planning, designing, implementing, reporting, and maintaining NEV micro-transit programs and has operated programs similar in size and scope to this RFP, including fare-based systems. Our high customer satisfaction ratings and high demand are a testament to the superb customer service provided by our driver ambassadors and management. Within the last five years, we have operated similar on-demand shuttle services using all-electric vehicles in Florida under contract with government entities in addition to the Hollywood Sun Shuttle, including nearby locations like Fort Lauderdale, Wilton Manors, Pompano Beach, West Palm Beach Downtown Development Authority, and Palm Beach County Convention Center. We additionally have a contract with Brightline to operate first/last mile on-demand services around stations in West Palm Beach, Boca Raton, Fort Lauderdale, Aventura and Miami. Circuit has operated services across the US, including in FL, CA, NY, TX, NJ, NC, MA, IL, and CO. As the City of Hollywood is familiar, Circuit has been most successful in first / last mile gaps and providing an enjoyable and safe rider experience. Our service model encourages riders to avoid using single occupancy vehicles or private rideshare services that add congestion and pollution, as is aligned with the RFP’s desire for a sustainable. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 49 of 123                            173 B5.1.2 Neighborhood Electric Vehicle Operations & Maintenance Experience As mentioned above, Circuit is the largest operator of neighborhood electric vehicles and has a growing fleet of various electric vehicles available in South Florida. We have Standard Operating Procedures, maintenance schedules, and operational expertise specifically for these vehicle types and their use in on-demand micro-transit service. Our experienced maintenance team is certified with Polaris Industries (transitioning to WAEV Inc.). For more information on our experience operation and maintaining these vehicles please see Section 3.6 Vehicle Capabilities. B5.1.3 Micro-Transit Operations Experience Circuit’s growth is largely due to its successful operations and satisfied customers. From technology, management, training and operations, Circuit’s full suite of services are best in class and offer the highest levels of quality for this type of service. Circuit maintains rigorous quality controls across all of its operations. Along with a dedicated, responsive and local staff, Circuit’s national team is readily available to handle technology improvements, vehicle enhancements, customer service, impact measurement and grant writing. The dedicated team and quality of service is what sets Circuit apart from other operators and will continue to offer the highest level of service for the City of Hollywood. Circuit, with its subsidiaries including Eco Cab LLC and South Florida Free Ride LLC, has operated on-demand micro-transit since 2011. Our on-demand services have included door to door and point to point services within a specified service territory. Circuit has experience operating these services for comparable cities and scopes of work focused on residents, guests, and commuters. Our on-demand service and mobile app make it easy to request a ride to local destinations, including shopping, restaurants, events, nightlife access and various appointments. We have the policies, procedures, and hiring and training standards in place to launch new markets and operate with a consistently high level of service, with specific attention to customer service. In our experience operating in South Florida, we know that extreme weather events such as hurricanes and flooding can be a seasonal occurrence. We have been able to manage flooding issues related to recent king tides and maintain appropriate levels of service. We have experience dealing with these issues and have an emergency plan in place. Circuit’s technology allows our team to be agile in its approach to addressing any disruptions or changes to service levels. Circuit’s team has been recognized for its efforts as an innovative neighborhood electric vehicle solution. In December 2019, Fast Company highlighted Circuit as the “Electric vehicle ride-share company that won the trust of cities without ‘disrupting’ them”.4 The team has also been featured in The NY Times, Business Insider, Forbes, Fox News, ABC, NBC and a number of other publications. Circuit has been the recipient of numerous awards like: Alonzo Award for Mobility in San Diego, Vendor of the Year Nominee Palm Beach Convention Center, Clean Air NY Champions Award, Lamplighter Award for Best New Service in San Diego, Rulebreaker Award for Startups Changing their Industries, 2018 Gold Medal Ad Club of New York, Outdoor Media Plan of the Year, Gator 100 Award (#20, and numerous others. 4 https://www.fastcompany.com/90444895/how-this-electric-vehicle-ride-share-company-won-the-trust-of-cities-without-disrupting-them City of Hollywood RFP04523SK for Citywide micro-transit Services Page 50 of 123                            174 Circuit was accepted and completed the URBANX Accelerator5 program where it received an investment from BMW/Mini and access to international mobility experts. Circuit has also completed the Los Angeles Cleantech Incubator(LACI)6, Civstart7, Leading Cities8 and AWS Smart Cities Accelerators. The team recently closed a Series A capital raise, welcoming a strong group of new investors. Circuit’s team has been asked to speak/participate at events like CoMotion Miami, LA CoMotion, Association for Commuter Transportation International Conference, Safe Streets Summit, Electrify Expo, LACI’s Transportation Electrification Summit, SmartCities NY, 2020 Cities, Civic Lab, and the UCLA Arrowhead Conference on Transportation. B5.1.4 Community Engagement Experience Circuit’s team has participated in local events such as Hollywood’s Candy Cane Parade, St. Patrick’s Day Parade, ArtWalk, Hollyweird, and in other service areas; Fort Lauderdale St Patrick’s Day Parade (annual), Broward Complete Streets, Food Deliveries in Hollywood for Feeding South Florida, and Cleaning Up Clematis in West Palm Beach. We do regular familiarization tours with media and meeting planners in our City Programs. We also donated a vehicle towards the recovery efforts for first responders to use during the Champlain Towers relief efforts. Along with events, Circuit stays actively engaged with our riders via the app, social media and publishes regular newsletters. Circuit has built a great base of over 10k local riders that we regularly send local newsletters to. This engagement has kept our ridership high and our riders informed of local events, happenings and businesses. HollyWeird Branding Partnering with Feeding South Florida to assist with Food Deliveries in Hollywood during Covid 8 https://leadingcities.org/accelicity/63dbbb3a-23ad-457287cf-2377dfdf766e 7 https://www.civstart.org/ 6 https://laincubator.org/second-cohort-of-market-access-program-provides-on-the-ground-mobility-solutions-for-communities-across-los-angeles/ 5 https://www.urban-x.com/ City of Hollywood RFP04523SK for Citywide micro-transit Services Page 51 of 123                            175 Circuit vehicle donated for Champlain Towers Relief Efforts in Bal Harbor, FL. Sample Newsletter to Hollywood Riders, February 2023 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 52 of 123                            176 As indicated in Section B1.2,Circuit regularly surveys its riders to learn more about the service and improve the quality of our offerings. Additionally, as indicated in Appendix 1.1,many of our riders are willing to add their names to a statement in support of our services B5.2 Project Experience B5.2.1 Past Project Experience- Hollywood Sun Shuttle Sun Shuttle- Hollywood, FL Type of Service On-demand micro-transit services Contract Term April 2019 Present Nature of Services On October 17, 2018 the Hollywood City Commission passed and adopted Resolution No. R2018335, authorizing the execution of an agreement with Free Ride, now known as Circuit Transit Inc. (" Circuit"), for circulator services to and from Downtown Hollywood, Hollywood Beach, and the City's parking garages for an initial one-year period with the option to renew for three additional one-year periods. The service commenced in May 2019 and has been renewed for each of the additional three one-year periods. The coverage area includes Downtown Hollywood and Hollywood Beach and consistently experiences high demand. This program began as a self-branded service and has recently opened for third party advertising. The coverage area includes Downtown Hollywood and Hollywood Beach and consistently experiences high demand. The City named the program “Sun Shuttle” which began as a self-branded service and has recently opened for third party advertising with a revenue share to the City. This program has exceeded the City’s expectations, doubling ridership at an estimated 70% of the cost of the previous trolley system. This program has continued to operate during the pandemic as an essential transportation service. Annual ridership has grown every year (including during peak Covid lockdowns in 2020. The service launched as free and at the April 2021 renewal we were asked to implement a $1 per rider fare to control demand, and ridership held steady. At the April 2022 renewal we were asked to increase the fare to $2 per person, ridership has remained strong. Hollywood Sun Shuttle Ridership by Month Jan 2021 Dec 2022 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 53 of 123                            177 This program started as a fare-free service and recently introduced a nominal $1 fare and $1 price per additional passenger. We have seen no drop in ridership as a result of fare implementation and have actually seen an increase in ridership since, with shorter wait times and an increase in operational efficiency. “Thank you and Hollywood for making it possible for our vulnerable Seniors to remain safe and healthy”- Memorial Senior and Family Services In response to the COVID19 outbreak, Circuit has adapted to provide mutual aid to the Hollywood community. Beginning in April 2020, Circuit partnered with Feeding South Florida, who have been supplying to local food banks. The three food banks involved are Liberia Economic and Social Development Inc., Community Enhancement Collaboration, and Cruciform Church. These organizations assembled boxes of donated food to be distributed and our drivers picked up the boxes and delivered them directly to the homes of the most vulnerable without access to transportation. The Hollywood drivers made 1,092 deliveries to at risk members of the community. Nature & Type of Vehicles: all-electric Polaris GEM e6 Circuit vehicles in Hollywood FL with Sun Shuttle branding Drivers in PPE, delivering grocery boxes during Covid B5.2.2 Past Project- FRED FRED San Diego, CA Type of Service On-demand micro-transit services, fare-based program Contract Term 2016 present Nature of Services In 2016, Civic San Diego and the Downtown San Diego Partnership selected Circuit to operate the Free Ride Everywhere Downtown FRED Circulator. The program has received national attention, community support, and extended funding. In its first year of operation, Circuit served over 140,000 riders, maintained wait times below 6.5 minutes, created over 35 new jobs, and saved 96.3 metric tons of CO2 emissions. Since then, Circuit has improved its technology on the vehicles, added a pooling algorithm to its app, used the data to enhance operations, and has saved 325 metric tons of CO2 emissions. Circuit provides over 25,000 rides per month and is on track to do over 280,000 rides per year. The City has funded the service with Circuit also selling third party advertising at a revenue share to the City to offset costs of operation. Circuit operates 1520 vehicles in the market, depending on demand. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 54 of 123                            178 Nature & Type of Vehicles: all-electric Polaris GEM e6 Circuit’s vehicle in San Diego CA B5.2.3 Additional Past Project Experience Please reference Appendix 3 and Appendix 4 for more evidence of Circuit’s relevant project experience. B5.3 References West Palm Beach, FL Project Manager:Teneka James Phone Number:5168338873 Email:tjames@downtownwpb.com Brightline Project Manager:Jean Carlos De Jesus Phone Number:7865611656 Huntington Beach, CA Project Manager:Sean Crumby Phone Number:7143745348 Pompano Beach, FL Project Manager:Jeff Lantz Phone Number:9547865580 Gardens Mall Palm Beach, FL Project Manager:Whitney Pettis Phone Number:5616222115 Additional experience City of Hollywood RFP04523SK for Citywide micro-transit Services Page 55 of 123                            179 B5.4 Customer Testimonials Confidential) Gus Zambrino, Assistant City Manager, City of Hollywood FL They are experienced and professional operators that are part of the community and provide a fun and convenient customer experience. Circuit’s team has been a pleasure to work with and have been great at building local support. Andria Wingett, Assistant Director of Development Services, City of Hollywood FL Circuit Transit is always responsive and has adapted to Hollywood’s changing needs; during the initial set-up, ongoing services and especially during the COVID pandemic. Carolina Galleguillos, BS, CDP, Memorial Senior and Family Services, Hollywood FL Thank you and Hollywood team members for making it possible for our vulnerable Seniors to remain safe and healthy in their homes. Our seniors so appreciate the fresh produce during this Pandemic. Sandra King, City Spokesperson, City of Pompano Beach FL You don’t have to drive anywhere, you don’t have to look for a place to park, you just jump on the circuit vehicle and go where you want to go. Ashley Medeiros, Destination Services, Discover the Palm Beaches The Circuit team is ALWAYS a great partner to work with. They are attentive, flexible, and hospitable! Luiz Aragon, Commission of Development for the City of New Rochelle, NY Circuit NR is a terrific community partner committed to providing safe, reliable and sustainable public transportation across New Rochelle’s downtown corridor. As we continue to see increased real estate demand across New Rochelle and as our once-in-a-generation downtown redevelopment continues to move forward, we believe Circuit NR’s electric on-demand shuttles can play a pivotal role in connecting our community to innovation, technology, arts, culture, schools, open space and our local businesses in an environmentally efficient way. As we see increased real estate demand across New Rochelle, we believe Circuit NR’s electric, on-demand shuttles can play a pivotal role in connecting our community to innovation… and our local businesses. Misti Kerns, Santa Monica Travel & Tourism They’re electric, they’re open air, and they’re fun. As that started to pick up and we started to hear good comments about it, we thought it might be a good option for some of the hotels. Their service has transformed our visitor and resident experience for short distance local travel. Their vehicles are always clean, new and fully stocked with our visitor guide, map and materials. Their drivers are always well informed on the destination, clean, uniformed, and friendly. I can’t imagine partnering with another provider for our electric transport needs, so great for this beach environment. Reese Jarrett, Civic San Diego Civic is thrilled to have played a part over this past year, in reducing congestion and decreasing the carbon footprint within the downtown community. Betsy Brennan, Downtown San Diego Partnership Since FRED's introduction to San Diego in 2016, Circuit has become an integral part of Downtown’s mobility structure. It provides residents, employees, and visitors a free, green, and enjoyable way to traverse Downtown’s neighborhoods while also mitigating congestion and parking issues. Mathew Sandford, Senior Director Economic Development, San Diego EDC City of Hollywood RFP04523SK for Citywide micro-transit Services Page 56 of 123                            180 In a region as dynamic and diverse as ours, the ability to easily get around is essential to our economic health. Micro mobility options, like the FRED program in Downtown, provide one tool in the economic development toolkit by addressing the last mile dilemma. Businesses of all types and sizes benefit when workers have options for getting to work, and patrons have easy access to goods and services. In short, the FRED program makes Downtown more accessible and is a model that could also benefit other communities in the San Diego region. Marisa Mangan, San Diego Association of Governments SANDAG Circuit’s neighborhood electric vehicle shuttles in downtown San Diego are a great example of how shared mobility services can provide efficient, convenient, and emission-free connections within a community. Services like Circuit directly support SANDAG’s bold new transportation vision for the region which includes implementation of Mobility Hubs served by a wide variety of Flexible Fleets. B6. ADA Compliance B6.1 ADA Compliance Plan Circuit has ADA compliant vehicles. In both the proposed operation plan, and any alternative option, Circuit proposes one 1 Ford ETransit EV Van to be available on standby for ADA requests; this vehicle will be able to move between zones as needed. Additionally, Circuit would provide the City one 1 Polaris GEM e6 ADA vehicle available on standby for ADA requests at no cost as this vehicle is a part of the branded existing fleet. For more information about vehicle accessibility please reference the B3.6 Vehicle Capabilities section above. Circuit will craft a service that is available for all users. Having done so already in other markets, Circuit will be able to provide a trusted option for passengers with disabilities. The drivers are trained to be accommodating to everyone looking for aride. Riders with disabilities have the option to request an ADA vehicle with a loading ramp. This request can be made through the ADA accessible app or by flagging down drivers. More information can be found in Section 2.1. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 57 of 123                            181 B7. Maintenance / Recovery Plan As stated in our Vehicle Maintenance section in Section B3.7.1, our in-house mobile service maintenance technicians are able to quickly respond to needs, and also adapt vehicles for the market. Vehicles are regularly maintained using rigorous checklists created in conjunction with the vehicle manufacturer. Typically, vehicles are inspected every 4,0005,000 miles and the condition of filters, brakes, etc. are tracked and replaced accordingly. Additionally, data is shared about the cars’ performance in order to forecast future maintenance needs. As it does with ridership, Circuit takes a proactive approach to planning future needs. For more information on our vehicle maintenance processes please refer to Section B3.7.1 Vehicle Maintenance. Access to Additional Vehicles Given our nearby operations, specifically in Fort Lauderdale, Pompano Beach, Wilton Manors and South Florida in general, we are readily able to supply additional electric vehicles on short notice on an as-needed basis. In the event a vehicle needs maintenance, our on-staff, GEM-certified technicians can typically be in the market within 20 minutes. If needed, a new vehicle can be brought to the market, or for events, within 2 hours. We have 52 vehicles within Broward County, and 79 within South Florida that are Circuit owned and therefore we have immediate access to this fleet, including spare vehicles in our Fort Lauderdale market. While Circuit has found great value in using GEM WAEV Vehicles), Ford eTransit EV Vans, Tesla and similar EV Sedans, we have built our systems for the electric vehicle types to be interchangeable. B7.1 Commitment to Avoid Service and Operation Disruptions Circuit has almost 4 years of experience operating a micro-transit service with up to 13 vehicles. We have and would remain committed to keeping the service operational through challenges that can occur. We have a robust preventative maintenance plan and certified maintenance technicians on staff to respond City of Hollywood RFP04523SK for Citywide micro-transit Services Page 58 of 123                            182 quickly (typically can be on site in under 1 hour) to diagnose and most times make any repairs or replace components on-site. In any event that a car needs a longer repair we have a large fleet in the area to send a replacement vehicle typically within 12 hours. Circuit is prepared to fulfill this requirement and is committed to avoiding service and operation disruptions. More details are provided about emergency management, risk mitigation, vehicle maintenance, customer service and operating procedures in Sections B3, B3.7, B4 and B5 B8, B.8.1 and B.8.2. B7.2 Scenario Response “The Contractor must also provide a response to this scenario: A vehicle breaks down in the middle of the afternoon (weekday) and the current outside temperature is 95 degrees Fahrenheit. The vehicle has a mixture of passengers: elderly, middle aged, children, and infants. Explain the Contractor's course of action that would be taken.” Circuit has extensive experience operating a high volume of shuttles moving tens of thousands of people every month. We are also contracted by Brightline Trains and have a response team for any disruption to train service where we dispatch EV Vans to move train passengers between stations if the tracks are temporarily closed. In the event of a vehicle breakdown, first and foremost we ensure that all passengers and staff are safe and clear from vehicular traffic. If an emergency response is needed we would call 911. We would direct all passengers to a safe area out of the heat, direct sun or inclement weather to wait for another vehicle to arrive. The driver of th disabled vehicle would then communicate with their supervisor to dispatch another vehicle to pick up the passengers. Direct communication via phone, text or a company slack channel ensures a quick response. For a disabled vehicle we have technicians nearby to diagnose and often repair on site, otherwise for larger repairs we have an account with both a local tow company and AAA if a vehicle needs to be transported on a flatbed trailer. Circuit is prepared to handle service disruptions and emergencies and has detailed its emergency management, risk mitigation and operating procedures in Sections B8, B.81 and B.82. B8. Risk Mitigation B8.1 Emergency Management Plan The Emergency Action Plan is designed to provide Circuit with a management tool to facilitate a timely, effective, efficient, and coordinated emergency response to significant events affecting our locations and our employees. Emergency management consists of four continuous stages: Mitigation This stage includes activities designed to reduce or eliminate risks to persons or property or to lessen the actual or potential effects or consequences of an incident. Mitigation measures may be implemented prior to, during, or after an incident. Mitigation involves ongoing actions to reduce exposure to, probability of, or potential loss from hazards. Measures may include analysis of hazard related data to determine where it is City of Hollywood RFP04523SK for Citywide micro-transit Services Page 59 of 123                            183 safe to relocate temporary facilities. Preparedness Preparedness is a continuous process. Preparedness involves efforts at all levels to identify threats, determine vulnerabilities, educate and train the employees and identify required resources. Preparedness is focused on establishing guidelines, plans, procedures, protocols, and standards for planning, training and exercises, personnel qualification and certification, equipment certification, and publication management. Response Response includes activities that address the short-term and direct effects of an incident. It includes immediate actions to save lives, protect property and the environment, and meet basic human needs. Response also includes the execution of emergency operations plans and of mitigation activities designed to limit the loss of life, personal injury, property damage, and other unfavorable outcomes. As indicated by the situation, response activities include applying intelligence and other information to lessen the effects or consequences of an incident; increased security operations; and continuing investigations into the nature and source of the threat. Recovery Recovery incorporates the development, coordination, and execution of service- and site-restoration plans; the reconstitution of operations and services; treatment of affected persons; additional measures for environmental and economic restoration; evaluation of the incident to identify lessons learned; post incident reporting; and development of initiatives to mitigate the effects of future incidents. B8.2 Risk Mitigation Plans Risks Risk Level: H, M L Offerors Mitigation Plan Safety of Riders H Rider safety is the most important thing at the Circuit. Circuit realizes that many factors go into this including drivers, cars and operations. All of Circuit's drivers go through both criminal and driving record background checks. This is required by the company's insurance provider. Beyond the background checks, each driver is vetted by management before being hired. Upon starting, the driver fills out and signs safety forms, goes through a training process and is further evaluated while driving and not. Additionally, management regularly monitors feedback from riders via app ratings, email feedback, etc. The drivers are also instructed on what to do and who to contact during any potential emergencies. Circuit also maintains the cars using the best practices established over the company's 11 year history of clean safety. The cars are City of Hollywood RFP04523SK for Citywide micro-transit Services Page 60 of 123                            184 inspected daily, preventative maintenance is performed to make sure everything is up to the company's standards. Additionally, older cars are rotated out once they've reached a certain mileage or fall below the company's high standards. Additionally, the GEM cars 25 MPH maximum speed, along with calming traffic, also does a great job to reduce the risk of a serious accident. Operations is the foundation of safety. Starting with the training, drivers learn how to operate the cars, safely pick up passengers - or get help for unruly patrons that should not ride, make sure all passengers are using their seatbelts, and more. Also, the drivers are instructed when to halt service. In the event of bad weather or other factors that may lead to unsafe conditions, we halt the service. Management is also able to monitor driver behavior and locate driver whereabouts using Samsara bi-directional dash cameras and our proprietary backend dashboard. Additionally, each driver is equipped with a company phone, fire extinguishers, first aid kits, and other necessary equipment. Safety and Security of personal belongings of riders and drivers H While the drivers do not handle the personal belongings of the passengers, every driver is encouraged to look around the car to make sure no one has left anything behind. In the event that something is left behind, the driver (if the passenger used the app) is able to call the last rider. If the rider does not respond then management is alerted via our internal messaging platform, Slack and belongings are held until someone claims them. If the app is included, passenger history is available to management to contact passengers as needed. Management has set up areas in all of its locations where drivers can safely store belongings, keys, phones, etc. Heat, Rain, Flooding, weather challenges M Weather can be a common concern in South Florida and Circuit has extensive experience with these issues in Hollywood and across South Florida. Management and drivers are in close contact and will halt services in the event that inclement weather leads to unsafe driving conditions. Safety is always a top priority. In the event of severe weather, Circuit takes the cars off of the road and stores them in indoor parking garages. Should space not be available, the back panels, rooftops and any extensions are removed from the cars to secure the vehicles. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 61 of 123                            185 During King tides, flooded areas are avoided. Drivers can contact riders requesting in those areas to notify them that the area is not passable. Circuit can quickly add important alerts to our app so when you open the Hollywood location a timely message pops up prior to requesting a ride. Maintaining a reliable, consistent schedule of service H Circuit uses its experience, data and marketing knowledge to stay ahead of factors that might impact the schedule of service. Understanding traffic patterns, bridget and toll timing and demand levels allows the management team to deploy the appropriate number of vehicles at any time. Additionally, contingency plans are in place and replacement vehicles are available in nearby Fort Lauderdale, should one of the shuttles be inoperable. Also additional drivers are available on call and in Fort Lauderdale should one of the drivers call out sick. Circuit always keeps backup drivers and backup cars available in order to maintain a consistent schedule of service. Maintaining qualified drivers H Circuit uses qualified, 21 , W2, paid hourly employees and vets them heavily before hiring. This, and maintaining a comfortable workplace is the key to retention. Driver retention is a factor that the company is proud of. There are happy teams in every market of service and retention rates remain high in Hollywood at 94%!. Additionally, Circuit uses Homebase - a scheduling software - to keep the team connected, manage shifts, etc. Lastly, if using the app, all of the drivers receive feedback from passengers allowing management to adjust and improve accordingly. Keeping vehicles operational H The key to keeping vehicles operational is regular service, proper charging/storage conditions and staying ahead of problems. With a fleet of 100 vehicles, Circuit has developed many systems to keep the vehicles operational. Additionally, Circuit has developed a close relationship with the vehicle manufacturer that lead to national fleet pricing, extended warranties and priority maintenance. Vandalism or theft of vehicles M Unfortunately, Circuit has dealt with vandalism in the past. Theft and vandalism are always concerns but the team does everything it can to prevent such instances - locking cars, storage facilities, cameras, routine spot-checks and more. In the event vandalism or theft takes place, Circuit will use its data and schedule to determine the exact time and place and who was working or was the last to work. From there, all incidents will be reported to local law enforcement and the company’s insurance providers. Vehicular accidents with H Fortunately, Circuit has a very strong safety record with few incidents to report. In the event that something happens with other City of Hollywood RFP04523SK for Citywide micro-transit Services Page 62 of 123                            186 automobiles, cyclists, pedestrians while on route automobiles, cyclists or pedestrians, the first move is always to see if anyone needs medical attention. If so, medical help will be sought immediately. The drivers are also equipped with fire extinguishers, first-aid kits, etc. From there, local law enforcement will be called to the scene. After such events, Circuit’s management will contact insurance providers and all parties involved in the incident. Circuit can also use data from the app to determine when the accident took place and how to mitigate future issues. B9. Local Vendor Preference As detailed in numerous sections above, Circuit, since launching the Sun Shuttle in 2019, has continued to maintain a local office, multiple facilities for parking and charging the fleet work with local businesses, and has built an amazing local staff, consisting of 74% who are proud to call Hollywood home. We work with, provide service to, and promote many local Hollywood based businesses. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 63 of 123                            187 B9.1 Local Hollywood Presence Lease for office space in Downtown Hollywood since July 2019 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 64 of 123                            188 Current City of Hollywood Business Tax Receipt City of Hollywood RFP04523SK for Citywide micro-transit Services Page 65 of 123                            189 Circuit has for years and continues to work with multiple local Hollywood vendors including: ●Circ Residences 1776 Polk Street ●Costa Hollywood Beach Resort 777 N. Ocean Dr. ●Golden Touch Auto Spa 1625 S Federal Hwy ●RAV Communications 1518 Garfield Street ●World Tire Inc. 1215 N Federal Hwy B10. Pricing Circuit offers a turnkey service with all-in pricing, which includes vehicles, staffing, insurance, technology, management, maintenance, data reports, marketing and grant writing support. Circuit understands the City’s desire to offer a low-fare service to residents, visitors, and commuters in Hollywood as defined by the RFP in reference to the three MTZ zone areas. As desired, we are proposing that the service continue to have a $2 per-trip rider fare. The only additional fees or costs not included in the price template would be any special services that take place outside of the regular service hours, such as events, in which case an hourly rate of $30/hr for GEM cars and $40/hr for EV Vans would apply for event services. Circuit is often willing to donate its services for local causes and City needs. Please note that pricing options are all flexible and Circuit hopes to work with the City to explore these options and/or a combination of these options to craft a solution that benefits the needs of the community. Pricing can be reduced via fare and advertising revenue generation and/or by adjusting service hours, types of vehicles and quantities of vehicles deployed during certain months of the year. B10.1 Fixed Pricing Rate Proposed Option As Detailed in Section B1.2,our proposed operating plan was structured using the details from the RFP. This option is broken into 3 different MTZ zones and is designed to operate 8 hours per day, 7 days per week, for a total of 56 weekly Hours.Our pricing is broken out in the Bid Form Format, provided with the RFP in Section C2 below and attached. It’s important to note that Circuit’s pricing is all-inclusive and structured as a turn-key operator. Our pricing includes setup, on demand rider and driver apps, monthly data reports, vehicles Electric Vans and GEM cars), maintenance, management, drivers, training, parking and charging. The pricing for our proposed option is available in BID Form Pricing, using the structure preferred by the City. This pricing is broken out by zone and City of Hollywood RFP04523SK for Citywide micro-transit Services Page 66 of 123                            190 includes a discount for guaranteed advertising revenues. Circuit understands that the City would like to split advertising revenues as 50% of net revenues. Circuit is willing to guarantee the bulk of these revenues upfront and then will discount future months if 50% of the net advertising revenue is greater than the guaranteed portion. Knowing we have local businesses as sponsors and more that are willing to sponsor we’re confident that demand from advertisers will continue to grow. Base year pricing details showing full costs, discount from guaranteed ads, Monthly Fixed Cost, and the expected fares to be returned to the City via the fare program.With all of these options Circuit is willing to provide an additional GEM NEV ADA vehicle to be available on standby for additional ADA requests, at no additional cost to the City. Please Note: The view below is only to provide more information. The Monthly Fixed Costs for our proposed option 56 hours/week, 3 zones) is available in Bid Form Pricing, Section C2 below and attached to the response. MTZ-1 (Hollywood Beach Zone) Total Number of NEV Cars 1 Total Number of EV Vans 1 Total Vehicles 2 Weekly Hours of Operation 56 Total Cost/Month $19,986.40 Discount for Monthly Advertising Guarantee -1400 Monthly Fixed Cost MTZ 1 $18,586.40 Expected Fares Returned to City -$3,049.17 Expected Monthly Net Cost MTZ 1 $15,537.23 MTZ-2 (Historic Downtown Zone) Total Number of NEV Cars 1 NEV + 1 Standby ADA NEV at no charge 2 Total Number of EV Vans 1 Total Vehicles 2 Weekly Hours of Operation 56 Total Cost/Month $18,031.28 Discount for Monthly Advertising Guarantee -1400 Monthly Fixed Cost MTZ 2 $16,631.28 Expected Fares Returned to City -$3,049.17 Expected Monthly Net Cost MTZ 1 $13,582.12 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 67 of 123                            191 MTZ-3 (Hillcrest/Washington Park) Total Number of NEV Cars 0 Total Number of EV Vans 2 Total Vehicles 2 Weekly Hours of Operation 56 Total Cost/Month $23,598.40 Discount for Monthly Advertising Guarantee -1400 Monthly Fixed Cost MTZ 3 $22,198.40 Expected Fares Returned to City -$3,049.17 Expected Monthly Net Cost MTZ 1 $19,149.23 Circuit’s pricing will adjust with the hours needed and as more hours are added, the service becomes more cost effective. If the City would like to add additional hours for events, even pricing will be $30 per hour for GEM Vehicles and $40 per hour for Van Vehicles.Please reference Form 2 for Pricing. B10.2 Circuit Alternative Pricing Options Hollywood RFP 2023 Alternative Pricing Options are Detailed below and also available in Circuit Alternative Pricing Options Attachment and these options are further explained in Section B.1.2.2 above. Alternate Option A Hours Per Week 79 Total NEV Cars (3 Zones) 4 NEV + 1 Standby ADA NEV at no charge 3 Total EV Vans (3 Zones)4 TOTAL VEHICLES 7 Total Monthly Costs (3 Zones)$76,011 Monthly Discount for Ad Guarantee (pre total sales)-$4,620 Monthly FIxed Rate (3 Zones)$71,391 Annual Fixed Rated (3 Zones)$856,695 Monthly Expected Fares Returned -$12,921 Expected Monthly Total Cost to City (3 Zones)$58,470 Expected Annual Rate (3 Zones)$701,643 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 68 of 123                            192 Alternate Option A is based on the existing hours of service. This option increases the total hours of service, compared to the proposed option and hours identified in the RFP, by approx 41%, while only increasing costs by approx 22%. Alternate Option B Hours Per Week 79 Total NEV Cars (3 Zones) 4 NEV + 1 Standby ADA NEV at no charge 5 Total NEV Cars (3 Zones) Low Season 2 Total EV Vans (3 Zones) Peak Season 4 Total EV Vans (3 Zones) Low Season 4 TOTAL VEHICLES (Peak Season)9 Total Monthly Costs (3 Zones) Peak Season $96,475 Total Monthly Costs (3 Zones) Low Season $76,011.27 Annualized Monthly Cost $86,243 Monthly Discount for Ad Guarantee -$5,390 Monthly FIxed Rate (3 Zones)$80,853 Annual Fixed Rated (3 Zones)$970,236 Monthly Expected Fares Returned -$15,075 Expected Monthly Total Cost to City (3 Zones)$65,779 Expected Annual Rate (3 Zones)$789,342 Alternate Option B is based on the existing hours of service. This option increases the total hours of service, compared to the proposed option and hours identified in the RFP. With this option, Circuit will add additional GEM Vehicles to the Hollywood market for the 6 busier months of the year and then will remove the cars from the market during the other 6 months. Circuit will cover the costs for adding and removing the vehicles and will cover the carrying costs of the vehicles not in service, at no expense to the City. Based on the current volume of riders, Circuit feels it’s necessary to add additional vehicles to the market. Alternate Option C Hours Per Week 79 Total NEV Cars (3 Zones) Peak Season 4 NEV + 1 Standby ADA NEV at no charge 5 Total NEV Cars (3 Zones) Low Season 2 Total EV Vans (3 Zones) Peak Season 4 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 69 of 123                            193 Total EV Vans (3 Zones) Low Season 4 TOTAL VEHICLES (Peak Season)9 Total Monthly Costs (3 Zones) Peak Season $96,475 Total Monthly Costs (3 Zones) Low Season $76,011.27 Annualized Monthly Cost $86,243 Monthly Discount for Ad Guarantee -$5,390 Monthly FIxed Rate (3 Zones)$80,853 Annual Fixed Rated (3 Zones)$970,236 Monthly Expected Fares Returned -$22,612 Expected Monthly Total Cost to City (3 Zones)$58,241 Expected Annual Rate (3 Zones)$698,895 Alternate Option C is based on the existing hours of service. This option increases the total hours of service, compared to the proposed option and hours identified in the RFP. With this option, Circuit will add additional GEM Vehicles to the Hollywood market for the 6 busier months of the year and then will remove the cars from the market during the other 6 months. Circuit will cover the costs for adding and removing the vehicles and will cover the carrying costs of the vehicles not in service, at no expense to the City. Based on the current volume of riders, Circuit feels it’s necessary to add additional vehicles to the market. Furthermore, Circuit will set up a new pricing model that will adjust rider pricing by zones. For example, a ride from Zone 3 to Zone 1 might be $4, but a ride within Zone 2 might be $2. This dynamic pricing model will also be structured to incentivize larger groups and increase efficiencies. B10.3 Unbanked Riders If selected for the contract Circuit looks forward to working with the City to create solutions to address unbanked riders and Circuit has various options available for the City to do so. 1. Circuit accepts street hails and does not charge riders for flagging the service down. 2. Circuit's app accepts prepaid cards, so a user can purchase a prepaid card using cash and use this prepaid card to credit the account. 3. Circuit can work with local businesses or government offices to "sell" promotional codes to riders to pre-load their account with funds for rides. This is also a feature that Circuit can offer businesses to be able to pre-pay for blocks of rides for their employees. 4. Circuit can work with the City to create a dial-in dispatcher system if needed. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 70 of 123                            194 C. Completed Forms and Certifications C1. This Submittal Checklist Confirmation City of Hollywood RFP04523SK for Citywide micro-transit Services Page 71 of 123                            195 C2. Bid Form Pricing) CONFIDENTIAL Bid Form Exhibit C is also available as an attachment EXHIBIT C CITY WIDE MICRO-TRANSIT SERVICES PRICING SHEET NOTE: Creative/optional pricing is encouraged and welcomed by the City and can be submitted for consideration in addition to the pricing below. The hourly rate for special events should NOT be included in the totals below. Base Year: Micro-Transit Zones Monthly Fixed Rate Total 12 Months Number of Vehicles MTZ-1 Hollywood Beach Zone $18.586 $223,036 2 Vehicles (1 NEV, 1 EV Van) MTZ-2 Historic Downtown Zone $16,631 $199,575 3 Vehicles (1 EV Van + 1 NEV + 1 Standby ADA NEV at no Charge) MTZ-3 Hillcrest/Washington Park $22,198 $266,380 2 Vehicles (2 EV Vans) Micro-Transit Service: Special Events $30 for NEV $40 for Van (Per Hour) N/A TOTAL BASE YEAR:$57,416 $688,993 7 Vehicles Notes: ●Monthly Fixed Rate includes a built in discount for guaranteed advertising revenues, as described in Circuit’s response. ●Circuit will include an additional GEM NEV ADA Vehicle into the fleet, on standby to handle additional ADA requests, at no additional cost to the City. ●Monthly Fixed Rate Does not include expected farebox recovery. Based on Circuit’s estimates, the monthly net costs to the City, after farebox recovery would be: $15,537 for MTZ-1, $13,582 for MTZ-2, and $19,149 for MTZ-3. Expected annual net total of: $579,223 Option Year 1: City of Hollywood RFP04523SK for Citywide micro-transit Services Page 72 of 123                            196 Micro-Transit Zones Monthly Fixed Rate Total 12 Months Number of Vehicles MTZ-1 Hollywood Beach Zone $18.586 $223,036 2 Vehicles (1 NEV, 1 EV Van) MTZ-2 Historic Downtown Zone $16,631 $199,575 3 Vehicles (1 EV Van + 1 NEV + 1 Standby ADA NEV at no Charge) MTZ-3 Hillcrest/Washington Park $22,198 $266,380 2 Vehicles (2 EV Vans) Micro-Transit Service: Special Events $30 for NEV $40 for Van (Per Hour) N/A TOTAL OPTION YEAR 1:$57,416 $688,993 7 Vehicles Notes: ●Monthly Fixed Rate includes a built in discount for guaranteed advertising revenues, as described in Circuit’s response. ●Circuit will include an additional GEM NEV ADA Vehicle into the fleet, on standby to handle additional ADA requests, at no additional cost to the City. ●Monthly Fixed Rate Does not include expected farebox recovery. Based on Circuit’s estimates, the monthly net costs to the City, after farebox recovery would be: $15,537 for MTZ-1, $13,582 for MTZ-2, and $19,149 for MTZ-3. Expected annual net total of: $579,223 Option Year 2: Micro-Transit Zones Monthly Fixed Rate Total 12 Months Number of Vehicles MTZ-1 Hollywood Beach Zone $19,051 $228,612 2 Vehicles (1 NEV, 1 EV Van) MTZ-2 Historic Downtown Zone $17,047 $204,565 3 Vehicles (1 EV Van + 1 NEV + 1 Standby ADA NEV at no Charge) MTZ-3 Hillcrest/Washington Park $22,753 $273,040 2 Vehicles (2 EV Vans) Micro-Transit Service: Special Events $30 for NEV $40 for Van (Per Hour) N/A TOTAL OPTION YEAR 2:$58,851 $706,217 7 Vehicles City of Hollywood RFP04523SK for Citywide micro-transit Services Page 73 of 123                            197 Notes: ●Monthly Fixed Rate includes a built in discount for guaranteed advertising revenues, as described in Circuit’s response. ●Circuit will include an additional GEM NEV ADA Vehicle into the fleet, on standby to handle additional ADA requests, at no additional cost to the City. ●Monthly Fixed Rate Does not include expected farebox recovery. Based on Circuit’s estimates, the monthly net costs to the City, after farebox recovery for Year 2 would be: $15,925 for MTZ-1, $13,921 for MTZ-2, and $19,627 for MTZ-3. Expected annual net total of: $593,703 Option Year 3: Micro-Transit Zones Monthly Fixed Rate Total 12 Months Number of Vehicles MTZ-1 Hollywood Beach Zone $19,527 $234,328 2 Vehicles (1 NEV, 1 EV Van) MTZ-2 Historic Downtown Zone $17,473 $209,678 3 Vehicles (1 EV Van + 1 NEV + 1 Standby ADA NEV at no Charge) MTZ-3 Hillcrest/Washington Park $23,322 $279,866 2 Vehicles (2 EV Vans) Micro-Transit Service: Special Events $30 for NEV $40 for Van (Per Hour) N/A TOTAL OPTION YEAR 3:$60,322 $723,873 7 Vehicles Notes: ●Monthly Fixed Rate includes a built in discount for guaranteed advertising revenues, as described in Circuit’s response. ●Circuit will include an additional GEM NEV ADA Vehicle into the fleet, on standby to handle additional ADA requests, at no additional cost to the City. ●Monthly Fixed Rate Does not include expected farebox recovery. Based on Circuit’s estimates, the monthly net costs to the City, after farebox recovery would be: $16,323 for MTZ-1, $14,269 for MTZ-2, and $20,118 for MTZ-3. Expected annual net total of: $608,546 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 74 of 123                            198 C3. Vendor Reference Forms City of Hollywood RFP04523SK for Citywide micro-transit Services Page 75 of 123                            199 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 76 of 123                            200 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 77 of 123                            201 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 78 of 123                            202 C4. Hold Harmless and Indemnity Clause City of Hollywood RFP04523SK for Citywide micro-transit Services Page 79 of 123                            203 C5. Non-Collusion Statement City of Hollywood RFP04523SK for Citywide micro-transit Services Page 80 of 123                            204 C6. Sworn Statement…Public Entity Crimes City of Hollywood RFP04523SK for Citywide micro-transit Services Page 81 of 123                            205 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 82 of 123                            206 C7. Certifications Regarding Debarment City of Hollywood RFP04523SK for Citywide micro-transit Services Page 83 of 123                            207 C8. Drug-Free Workplace Program Circuit confirms that it maintains a drug free workplace. Our team did not sign this document as one or more of the details set forth in this form may be slightly different than the policies that we have in place. Circuit is happy to discuss these policies with the City and as stated above we are comfortable enacting the FDOT policies as needed, if selected for this contract. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 84 of 123                            208 C9. Solicitation, Giving, and Acceptance City of Hollywood RFP04523SK for Citywide micro-transit Services Page 85 of 123                            209 C10. W9 Request for Taxpayer Identification) City of Hollywood RFP04523SK for Citywide micro-transit Services Page 86 of 123                            210 C11. List of subcontractors Circuit will not use subcontractors on this project. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 87 of 123                            211 C12. Certificate(s) of insurance City of Hollywood RFP04523SK for Citywide micro-transit Services Page 88 of 123                            212 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 89 of 123                            213 C13. Proof of State of Florida Sunbiz Registration City of Hollywood RFP04523SK for Citywide micro-transit Services Page 90 of 123                            214 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 91 of 123                            215 Appendix Appendix 1 Letters of Support Appendix 1.1 Rider Letter of Support: City of Hollywood RFP04523SK for Citywide micro-transit Services Page 92 of 123                            216 Rider Letter Response Submissions: First name What most describes you?Additional Comments Louise Visitor Good service Jerry Visitor Kenya Resident Pete Visitor Doretha Resident Great service jeff Resident Veronica Resident Super friendly! Claudia Resident Kelsey Resident Kathleen Resident The drivers are always pleasant and helpful to our tourists Jim Resident Martina Visitor Wolfgang Resident Adriana Resident Amazing service BT Lou! Noah Other Pamela Visitor I used circuit in Pompano Beach and loved it! Dorothy Resident Circuit is wonderful, especially for senior citizens. Your drivers are all very nice. Thank you for this service. David Resident Linda Resident Wanda Resident She did a great job! Michael Visitor Michael Visitor City of Hollywood RFP04523SK for Citywide micro-transit Services Page 93 of 123                            217 Wanda Resident Michael Visitor Elizabeth Visitor Alex our driver was fabulous!! Nicole Visitor This is such a great asset to the area. It made our trip easy and comfortable. Not only will I highly recommend this to my travel friends, I would be less apt to travel to the Hollywood/Lauderdale area without it. Kyle Visitor Shay Other Jason Resident Love Circuit, just another thing that makes Hollywood great! Erin Resident I don't have a car, so circuit is a critical part of my transportation paradigm. Michael Visitor Circuit is a great addition to the community! Drivers are always friendly and helpful! Connie Resident, Business Owner A pleasure to feel I’m in vacation in my own city! Alana Resident Joe Visitor Jerry Visitor Ralph M was a great very personable driver. We really enjoyed the ride. jason Visitor Steven was a great driver and very informative. Sandra Resident Perfect service! Sandy Visitor Laura Visitor Love the circuit! Corinne Visitor The drivers are ALWAYS so nice and helpful. Carolina Resident Keri Resident Patricia Resident David Resident City of Hollywood RFP04523SK for Citywide micro-transit Services Page 94 of 123                            218 Zhanna Visitor Niki Visitor Lauren Resident Amazing service! Cant wait to ride again! Tim was fantastic Elizabeth Visitor Stephen was a great driver. Very informative and fun! Thank you! Susan Resident Great service mark Visitor great service well run - nice alternative to ride share Sul Visitor Love Stephen! Arielle Resident Circuit is a blessing for me. I dont have a car and im handicapped so im limited in my ability to walk distances. Circuit allows me to go grocery shopping, run errands, and even go to the beach. Im super grateful- we need more circuit everywhere- Protect our Earth from car pollution and continue to offer low cost rides . Thank you Monika Visitor Latoya Resident Latoya Resident Heather Visitor Casual ride. Loved it Alex Resident Isabel Resident Love the convenience. Especially appreciated with out-of-town visitors. Lynn Resident Randy Visitor James Remmy Resident Great service and friendly drivers. Dominic Resident DEBBIE Visitor We are from Pennsylvania but visit Hollywood frequently and love using Circuit City of Hollywood RFP04523SK for Citywide micro-transit Services Page 95 of 123                            219 Tatiana Resident I love it! Wish it was even more encompassing in the Lakes area! Michael Resident Beverly Resident I really enjoy the service its an asset to my life Beverly Resident I really enjoy the service its an asset to my life Susan Resident Circuit provides a vital service for the community! Tracy Visitor Gloria Resident Terri Resident I love the service! margarita Resident love CIRCUIT !!! Anna maria Visitor I love circuit .we dont have a car while were here very useful to us . Thank to all staff . By the way all drivers are very pleasant . Shanita Resident Tassana Resident I love the circuit it takes me to the beach and activities around the area I love it Dave Visitor Circuit is a wonderful service. I wish the hours were earlier in the morning. Linda Resident Excellent service. Friendly drivers. Tim & Yolanda are great salvina Other Rogelio Resident Is really Good and Nice for the city of Hollywood Rene Resident My family and I live circuit! NINA Visitor I look forward to the Circuit rides and the friendly service every time I visit. It's invaluable! Denise Resident Robin Resident Luz Resident I looove circuit transportation. I wish you ran a bit earlier. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 96 of 123                            220 Kevin Resident Josefina Resident Claude Resident Matthew Resident Tony Resident Tony Resident Dan Hana Resident Leslie Visitor Nan Visitor This is a tremendous service in an area with a shortage of parking places! Used it many times. Bryan Resident, Business Owner John Visitor Dirk Visitor We stayed in Hallandale this January and used circuit many times. I would like to see more use of this technology and keep it as a form of transportation in Hollywood as well in other communities Donnette Resident Raul Resident Ivan Resident Princess Resident I would love this for Washington dc Elly Resident Mike Resident Love the circuit. I will be taking it tonight to the beach. Alan Resident, Business Owner Great Service Drivers are always Happy and have a Smile on there face Vehicle always clean Lynda Visitor Kristine Business Owner Circuit has been a great addition to the Hollywood area and reduces traffic. Isaac Resident Keep up the good work! City of Hollywood RFP04523SK for Citywide micro-transit Services Page 97 of 123                            221 Steven Visitor This is a wonderful additional benefit to coming to visit Hollywood! Eric Resident Peter Resident Doug Business Owner Alex Business Owner It's great! Ian Business Owner Alana Resident City of Hollywood RFP04523SK for Citywide micro-transit Services Page 98 of 123                            222 Appendix 1.2 Letters of Support: Appendix 1.2.1 Water Taxi City of Hollywood RFP04523SK for Citywide micro-transit Services Page 99 of 123                            223 Appendix 1.2.2 Downtown Development Authority, WPB City of Hollywood RFP04523SK for Citywide micro-transit Services Page 100 of 123                            224 Appendix 1.2.3 Cityfi City of Hollywood RFP04523SK for Citywide micro-transit Services Page 101 of 123                            225 Appendix 1.2.4 Billy’s Stone Crab City of Hollywood RFP04523SK for Citywide micro-transit Services Page 102 of 123                            226 Appendix 1.2.5 World Tire Inc. City of Hollywood RFP04523SK for Citywide micro-transit Services Page 103 of 123                            227 Appendix 1.2.6 Margaritaville City of Hollywood RFP04523SK for Citywide micro-transit Services Page 104 of 123                            228 Appendix 1.2.7 Le Tub, Tiki Tiki, GG’s City of Hollywood RFP04523SK for Citywide micro-transit Services Page 105 of 123                            229 Appendix 1.2.8 Diplomat Beach Resort Valet Services) City of Hollywood RFP04523SK for Citywide micro-transit Services Page 106 of 123                            230 Appendix 2 Example of Data Report Appendix 2.1 February 2023 Hollywood Data Report Below showcases the most recent monthly report of the Hollywood Sun Shuttle. Additional highlights include a $4.53 net cost per rider Almost 90% lower than comparable micro-transit systems), 148,000 annual riders, 11,859 passengers in the short month of February 2023, and 41 passengers per revenue hour. Over the past 10 months of operation, the Hollywood Sun Shuttle Circuit has reduced greenhouse gas emissions by 242 metric tons CO2, saved over 27,231 gallons of gas, and reduced traffic congestion by 182,000 miles driven (by an average gasoline-powered vehicle). This GHG savings is the equivalent to the emissions reduced by 4,001 tree seedlings grown for 10 years (calculated using EPA GHG Equivalencies Calculator9). 9 https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator City of Hollywood RFP04523SK for Citywide micro-transit Services Page 107 of 123                            231 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 108 of 123                            232 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 109 of 123                            233 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 110 of 123                            234 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 111 of 123                            235 END OF REPORT City of Hollywood RFP04523SK for Citywide micro-transit Services Page 112 of 123                            236 Appendix 3 Case Studies Appendix 3.1 Hollywood Case Study Hollywood Sun Shuttle 2023 Case Study- Page 1 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 113 of 123                            237 Hollywood Sun Shuttle 2023 Case Study Page 2 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 114 of 123                            238 Hollywood Sun Shuttle 2023 Case Study- Page 3 (last page) City of Hollywood RFP04523SK for Citywide micro-transit Services Page 115 of 123                            239 Appendix 3.2 Brightline Case Study Brightline Case Study- Page 1 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 116 of 123                            240 Brightline Case Study- Page 2 Brightline Case Study- page 3 (last page) City of Hollywood RFP04523SK for Citywide micro-transit Services Page 117 of 123                            241 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 118 of 123                            242 Appendix 3.3 San Diego Case Study San Diego Case Study- Page 1 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 119 of 123                            243 San Diego Case Study- Page 2 San Diego Case Study- page 2 (last page) City of Hollywood RFP04523SK for Citywide micro-transit Services Page 120 of 123                            244 Appendix 4 Additional Past Project Experience Appendix 4.1 New Rochelle NY Type of Service On-demand micro-transit services Contract Term August 2019 present Nature of Services In 2019, Circuit started a pilot program with the City of New Rochelle’s Industrial Development Agency IDA. The goal was to promote the downtown area’s businesses and new developments and to provide a free connection to the Metro-North Railroad. The program was a fast success, prompting the City to issue an RFP that Circuit was fortunate to win in January 2020. The service and local team quickly ingrained itself in the community, including coordination and outreach with Veterans groups, senior living communities, and the Chamber of Commerce. During the pandemic, Circuit partnered with 511NYRideshare to provide trips to visiting nurses between hotels and the Montefiore Hospital. Nature & Type of Vehicles: all-electric Polaris GEM e6 Circuit vehicle in New Rochelle Appendix 4.2 Brightline Type of Service On-demand micro-transit services, fare-based program Contract Term August 2021 present Nature of Services In 2021, Circuit was selected to provide on-demand first/last mile services by Brightline Trains for their reopening under the new program Brightline+. Service focuses on providing rides to/from Brightline stations within a specified radius of the Fort Lauderdale, West Palm Beach, and Miami stations. Passengers can now book private or shared rides in EV’s to and from all stations during the purchase of their train tickets online or in app. The innovative door to door service has significantly increased the user experience, streamlined travel, replaced ICE trips with EV trips and created 65 jobs. Nature & Type of Vehicles: all-electric mixed fleet with Polaris GEM e6, Tesla Model Y, and electric passenger vans City of Hollywood RFP04523SK for Citywide micro-transit Services Page 121 of 123                            245 Circuit GEM vehicles with Brightline branding at Brightline trains reopening and Brightline+ launch event Appendix 4.3. West Palm Beach, FL Type of Service On-demand micro-transit services Contract Term January 2013 present Nature of Services Circuit has operated on-demand services using electric vehicles in the area since 2013. We focused on riders within West Palm Beach and Palm Beach. This service has been provided over these years with funding support from brand sponsors as well as a small fare program. In 2021, Circuit won a contract with West Palm Beach DDA to offer expanded and fare-free services in West Palm Beach and Palm Beach. Nature & Type of Vehicles: all-electric Polaris GEM e6 Circuit vehicles in West Palm Beach with local business and safe street initiatives branding Appendix 4.4 Pompano Beach, FL Type of Service On-demand micro-transit services Contract Term 2021 present City of Hollywood RFP04523SK for Citywide micro-transit Services Page 122 of 123                            246 Nature of Services In 2020, Circuit was selected for this project through competitive RFP and began operating in Spring 2021. The coverage area includes Downtown Hollywood and Hollywood Beach and consistently experiences high demand. This program began as a self-branded service and then opened for third party advertising. Nature & Type of Vehicles: all-electric Polaris GEM e6 Circuit vehicles in Pompano Beach with City officials at ribbon cutting, 2021 City of Hollywood RFP04523SK for Citywide micro-transit Services Page 123 of 123                            247 City-Wide Micro-Transit Services 17 of 18 EXHIBIT D – Service Areas Micro-Transit Zones shown below may adjusted during the Contract Term based on demand/City needs at no cost to the City as long as there is no net change to the number of vehicles/hours of operation On-Demand Micro-Transit Zones Designated Drop-off/Pick up locations for the Fixed Route pilot test                            248 City-Wide Micro-Transit Services 18 of 18 EXHIBIT E – Pricing Total Costs – All Zones Unit Costs                            249 Presentation For Shuttle Service Update- Q4 (Jan 1 2025- March 1 2025) 250 Coastal Cruiser Hours of Operation Monday: 10:00am - 8:00pm Tuesday: 10:00am - 8:00pm Wednesday: 10:00am - 8:00pm Thursday: 10:00am - 8:00pm Friday: 10:00am - 10:00pm Saturday: 10:00am - 10:00pm Sunday: 10:00am - 8:00pm Total Cars: 4 (including 1 ADA GEM) 251 Updates - Data Dashboard New Data Portal Insights provides more granular breakdown of key metrics and data. -Passenger Breakdown -Age Demographics -Zones -Weekly/Monthly/Daily ridership insights -Heat maps and Hot Spots -And more! 252 4 Boynton Beach Snapshot- January 1- March 1 2025 Total Rides Total Passengers Avg. Driver Rating Avg. Wait Time Avg. Unique Users per month Avg. User Age In Economic Impact- Restaurants and Shopping! In Economic Impact- Essential Needs and Errands 3, 015 4, 285 4.98 7:13 100 49 $57k + $53k + 253 Boynton Beach Ridership YTD Jan 1- March 1 33% increase MoM in rides & 53% increase MoM in ridership Trending up! 254 6 Boynton Beach Top Locations Top pick up and drop off destinations: ●Beach Stop ●Publix ●Banana Boat ●Walmart ●Two George’s *Top locations remain consistent with previous quarter, no big changes for drop off and pick ups* 255 Jan 1- March 1, FRIDAY AND SATURDAY ONLY 4pm & 5pm remain busiest hours compared to previous quarter Boynton Beach Ridership 256 Jan 1- March 1, SUNDAY-THURSDAY ONLY 3pm - 5pm remain busiest hours compared to previous quarter Boynton Beach Ridership 257 Unique Users- by ride requests, total new users MoM 38% increase in new users compared to previous months Boynton Beach Ridership 258 January 2025 National Survey Boynton Beach Results *NPS (Net Promoter Score): 80 + This score falls well within the “Excellent” range and reflects strong rider satisfaction and loyalty in Boynton Beach! . 1010 100%Of Riders said Circuit is a great addition to the Boynton Beach Community! 90%Take Circuit Circuit to help them drive less- reducing congestion and emissions! 76%Take Circuit to help make their trip safer 54%Take Circuit to go shopping, restaurants (helping boost economic growth!) and to run essential errands 259 National Survey Results Helping boost economic growth in Boynton Beach 1111260 Riders love Circuit in Boynton Beach! 1212 4.9 User Rating! 261 Thank you!! We’re ready to continue to move Boynton Beach forward! See what we’re up to on social @ride_circuit Connect with our Sales Team & get started jason@ridecircuit.com↓Visit us ridecircuit.com↓↓262 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 INFORMATION ONLY AGENDA ITEM 8.B SUBJECT: Annual Report in Accordance with the Tax Increment Revenue Funding Agreement with BB1 Development LLC (aka Hyperion Group, LLC) ("BB1") for the Ocean One Project SUMMARY: At the May 14, 2024 meeting, the CRA approved a Tax Increment Revenue Funding Agreement with BB1 Development LLC (aka Hyperion Group LLC) for the mixed-use project located at 114 - 222 N. Federal Highway (see Attachment I). The project includes 371 residential units as well as approximately 25,000 square feet of retail/commercial space. The TIRFA included the following terms: 95% of the Project Tax Increment Financing over the course of 12 years up to a maximum of $9,000,000.00. 90 public parking spaces located on the second floor of the parking garage restricted for use by the public in perpetuity, of which 31 spaces are above what code requires; 20 on street parking spaces, 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. Under the terms of the TIRFA that was executed on June 6, 2024, BB1 Development LLC is required to submit an annual performance report no later than June 6, 2025. On April 30, 2025, the CRA received the first annual report (see Attachment II). Representatives from BB1 Development LLC have been invited to attend the June 10, 2025 Board meeting. FISCAL IMPACT: TIRFA approved for $9,000,000 once all elements of the project have been placed on the tax 263 •Attachment I - Fully Executed TIRFA •Attachment II - April 30, 2025 Annual Report roll 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. ATTACHMENTS: Description 264 6 June 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 April 30, 2025 888 Biscayne Boulevard, Ste. 101, Miami, FL 33132 |9 West 57th Street, New York, NY 10019 | (o) 305.416.7550 | www.hypdev.com Mr. Timothy Tack, AIA, Interim Executive Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave Boynton Beach, FL 33435 114/222 N Federal Highway TIRFA Annual Report Dear Mr. Tack, Per the requirements of the Tax Increment Revenue Funding Agreement (“TIRFA”) with the Boynton Beach Community Redevelopment Agency (“CRA”), please find below updates related to our performance for Ocean One (the “Project”). We are pleased to report that on August 16, 2024 we submitted for our building permit, and are currently in the latter stages of permit review with the City of Boynton Beach. We, along with our civil engineer and legal teams, have also been working with the City on the Land Development Permit and re-plat of our site. Please see Exhibit A for proof of property tax payments. Per the terms of the TIRFA, the construction of the Project is anticipated to commence before September 30, 2025, with one six (6) month extension to not be unreasonably withheld. As we are not yet ready to commence construction, the commitments provided in paragraph 3.1.1 of the TIRFA have not been triggered including 3.1.1a through 3.1.1f. We plan to meet this September requirement, and we continue the work to secure the financing needed for construction. As you can imagine, conditions for multi-family development, particularly those with large retail components, are extremely unfavorable and have only gotten worse in the last year since the TIFRA was approved. Compounding this is the uncertainty of tariffs and the risk of uncontrollable cost increases. Despite the challenges we are working hard and remain optimistic that with the continued collaboration and support of the CRA and City staff we will be in a position to commence this Project. We are fully committed to delivering a world class residence that will be a home and destination for the Boynton Beach community to enjoy and be proud. Thank you. Sincerely, Robert Vecsler Principal and CEO, Hyperion CC: Bonnie Miskel, Esq. 384 2 Exhibit A – Proof of Payment for Property Taxes 385 3 386 •Attachment I - Promotional Poster COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 ANNOUNCEMENTS AND AWARDS AGENDA ITEM 9.A SUBJECT: Announcement for Rock the Plaza at One Boynton SUMMARY: On Thursday, June 26, 2025, the CRA will host Rock the Plaza at the One Boynton property, which is located at 1501 Federal Highway. Free parking will be available in the One Boynton parking garage. Additionally, there will be a complimentary Circuit shuttle transporting attendees from the parking lot located at 115 N. Federal Highway. The free, family-friendly event, which will take place from 5:00 p.m. to 9:00 p.m., will spotlight the businesses located within the One Boynton shopping plaza. The event will feature live music from the band Girlfriend Material and special promotions from restaurants and businesses within the plaza. To maximize customer outreach, CRA staff will work with interested businesses to activate various Boynton Beach Bucks offers during the event. Patrons are encouraged to visit the "Sample Station" to try delicious bites from restaurants and eateries located within the plaza. Please see Attachment I for the branded promotional poster that was distributed to businesses throughout the BBCRA area and at City of Boynton Beach municipal buildings. FISCAL IMPACT: FY 2024 - 2025 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 at this time unless otherwise determined by the CRA Board. ATTACHMENTS: Description 387 Girlfriend Material one Boynton 1501 federal hwy. f r e e eventfree event rockrock plazaplazathethe B O Y N T O N B E A C H j u n e 26 th 5 p m -9pm music by 388 •Attachment I - May 2025 Financial Summary COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CONSENT AGENDA AGENDA ITEM 11.A SUBJECT: CRA Financial Report Period Ending May 31, 2025 SUMMARY: CRA Financial Services staff is providing the CRA Board with the May 31, 2025 (Attachment I): Statement of Revenues, Expenditures and Changes in Fund Balance Report, and Budget Comparison Schedule - General Fund. FISCAL IMPACT: FY 2024-2025 Annual Budget CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan and FY 2024-2025 CRA Budget CRA BOARD OPTIONS: Approve the CRA's monthly financial and budget reports for the period ending May 31, 2025. ATTACHMENTS: Description 389 General Fund Projects Fund Debt Service Fund Total Governmental Funds REVENUES Tax increment revenue 24,487,029 - - 24,487,029 Marina Rent & Fuel Sales 1,438,415 - - 1,438,415 Contributions and donations - - - - Interest and other income 214,214 2,970,633 23,732 3,208,578 Total revenues 26,139,658 2,970,633 23,732 29,134,022 EXPENDITURES General government 2,832,842 - - 2,832,842 Redevelopment projects - 5,904,207 - 5,904,207 Debt service:- Principal - - - - Interest and other charges - - 60,062 60,062 Total expenditures 2,832,842 5,904,207 60,062 8,797,111 23,306,816 (2,933,574) (36,331) 20,336,911 OTHER FINANCING SOURCES (USES) Funds Transfers in - 19,710,351 2,317,425 22,027,776 Funds Transfers out (22,027,776) - - (22,027,776) Total other financing sources (uses) (22,027,776) 19,710,351 2,317,425 - Net change in fund balances 1,279,040 16,776,777 2,281,094 20,336,911 Fund balances - beginning of year 4,869,740 19,070,941 230,912 24,171,593 Fund balances - end of year 6,148,780 35,847,718 2,512,006 44,508,504 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 - May 31, 2025 (A Component Unit of the City of Boynton Beach, Florida) The notes to the basic financial statements are an integral part of this statement. 1 390 Original Budget Final Budget Actual REVENUES Tax increment revenue 24,279,354$ 24,279,354$ 24,487,029 Marina Rent & Fuel Sales 1,300,000 1,300,000 1,438,415 Interest and other income - - 214,214 Other financing sources (uses) - 2,118,706 - Total revenues 25,579,354 27,698,060 26,139,658 EXPENDITURES General government 5,670,284 5,670,284 2,832,842 Total expenditures 5,670,284 5,670,284 2,832,842 19,909,070 22,027,776 23,306,816 OTHER FINANCING SOURCES (USES) Carryover fund balance - Transfers out (19,909,070) (22,027,776) (22,027,776) Total other financing sources (uses) (19,909,070) (22,027,776) (22,027,776) Net change in fund balances -$ -$ 1,279,040 Fund balances - beginning of year 4,869,740 Fund balances - end of year 6,148,780 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 - May 31, 2025 The notes to the basic financial statements are an integral part of this statement. 1 391 6/2/2025 3:16:02 PM Page 1 of 5 Detail vs Budget Report Boynton Beach CRA, FL Account Summary Date Range: 05/01/2025 - 05/31/2025 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01 - GENERAL FUND Revenue 01-41000 T.I.F. COLLECTIONS 207,675.00-24,487,029.000.00-24,487,029.00-24,279,354.000.00 0.86% 01-42115 MARINA RENTS -1,071.10-98,928.90-12,138.15-86,790.75-100,000.000.00 -1.07% 01-42116 MISCELLANEOUS RENTS FRO PROPER 181,913.76-181,913.76-23,518.75-158,395.010.000.00 0.00% 01-42117 MARINA FUEL SALES -50,707.23-1,149,292.77-176,234.57-973,058.20-1,200,000.000.00 -4.23% 01-42118 MARINA MISC INCOME 8,279.67-8,279.67-2,175.30-6,104.370.000.00 0.00% 01-46100 INTEREST INCOME 89,463.19-89,463.19-5,819.04-83,644.150.000.00 0.00% 01-47200 IN KIND REVENUE 95,109.36-95,109.36-10,911.17-84,198.190.000.00 0.00% 01-48100 MISCELLANEOUS INCOME 29,641.05-29,641.05-5,024.51-24,616.540.000.00 0.00% 01-49100 OTHER FINANCING SOURCES -2,118,706.000.000.000.00-2,118,706.000.00 -100.00% Revenue Totals:0.00 -27,698,060.00 -25,903,836.21 -235,821.49 -26,139,657.70 -1,558,402.30 -5.63% Expense 01-51010-200 CONTRACTUAL EXPENSE 22,691.294,150.80368.003,782.8026,842.090.00 84.54% 01-51010-216 ADVERTISING & PUBLIC NOTICES 10,000.000.000.000.0010,000.000.00 100.00% 01-51010-225 ASSOC. MEETINGS & SEMINARS 24,966.024,033.980.004,033.9829,000.000.00 86.09% 01-51010-227 DELIVERY SERVICES 361.00139.000.00139.00500.000.00 72.20% 01-51010-310 OFFICE SUPPLIES 517.16282.8414.20268.64800.000.00 64.65% 01-51230-100 PERSONNEL SERVICES 369,425.02174,064.9821,680.20152,384.78543,490.000.00 67.97% 01-51230-115 CAR ALLOWANCE 6,625.072,974.93461.542,513.399,600.000.00 69.01% 01-51230-225 ASSOC. MEETINGS & SEMINARS 16,192.13307.870.00307.8716,500.000.00 98.13% 01-51230-226 MEMBERSHIP DUES 10,188.178,211.830.008,211.8318,400.000.00 55.37% 01-51230-227 DELIVERY SERVICES 500.000.000.000.00500.000.00 100.00% 01-51230-229 CAREER DEVELOPMENT 18,977.62522.380.00522.3819,500.000.00 97.32% 01-51230-310 OFFICE SUPPLIES 2,791.09-291.0916.10-307.192,500.000.00 111.64% 01-51230-315 POSTAGE 2,700.00300.00100.00200.003,000.000.00 90.00% 01-51230-340 CELLULAR PHONES 1,241.37758.6396.52662.112,000.000.00 62.07% 01-51230-355 SUBSCRIPTIONS 1,565.00135.000.00135.001,700.000.00 92.06% 01-51230-360 BOOKS & PUBLICATIONS 300.000.000.000.00300.000.00 100.00% 01-51230-400 EQUIPMENT COSTS 2,637.401,362.6045.121,317.484,000.000.00 65.94% 01-51325-100 PERSONNEL SERVICES 94,626.10173,828.9020,650.40153,178.50268,455.000.00 35.25% 01-51325-115 CAR ALLOWANCE 1,287.722,312.28276.922,035.363,600.000.00 35.77% 01-51325-200 CONTRACTUAL EXPENSE 125.00175.000.00175.00300.000.00 41.67% 01-51325-201 BANK FEES 5,734.60265.40169.8895.526,000.000.00 95.58% 01-51325-225 ASSOC. MEETINGS & SEMINARS 8,165.621,134.3840.001,094.389,300.000.00 87.80% 01-51325-226 MEMBERSHIP DUES 1,516.66183.340.00183.341,700.000.00 89.22% 01-51325-227 DELIVERY COSTS 252.2647.740.0047.74300.000.00 84.09% 392 Detail vs Budget Report Date Range: 05/01/2025 - 05/31/2025 6/2/2025 3:16:02 PM Page 2 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01-51325-229 CAREER DEVELOPMENT 12,000.000.000.000.0012,000.000.00 100.00% 01-51325-310 OFFICE SUPPLIES 1,500.09499.9116.10483.812,000.000.00 75.00% 01-51325-340 CELLULAR PHONES 1,241.37758.6396.52662.112,000.000.00 62.07% 01-51325-355 SUBSCRIPTIONS 2,501.001,499.000.001,499.004,000.000.00 62.53% 01-51325-360 BOOKS & PUBLICATIONS 300.000.000.000.00300.000.00 100.00% 01-51325-365 OFFICE PRINTING COSTS 1,806.11193.890.00193.892,000.000.00 90.31% 01-51325-400 EQUIPMENT COSTS 1,970.0129.990.0029.992,000.000.00 98.50% 01-51410-213 GENERAL PROPERTY COVERAGE 185,152.13215,341.870.00215,341.87400,494.000.00 46.23% 01-51420-200 CONTRACTUAL EXPENSE 32,156.5835,843.420.0035,843.4268,000.000.00 47.29% 01-51420-201 CONTRACT LEGAL 126,365.50107,634.5033,070.0074,564.50207,000.00-27,000.00 61.05% 01-51420-202 WEBSITE HOSTING, REDESIGN & MAINT 34,988.7219,906.52408.3519,498.1754,486.89-408.35 64.21% 01-51420-204 CITY STAFF COSTS 34,744.004,752.000.004,752.0039,496.000.00 87.97% 01-51440-100 PERSONNEL SERVICES 80,623.17145,985.8317,497.50128,488.33226,609.000.00 35.58% 01-51440-225 ASSOC. MEETINGS & SEMINARS 3,987.501,712.50110.091,602.415,700.000.00 69.96% 01-51440-226 MEMBERSHIP DUES 896.06803.94115.28688.661,700.000.00 52.71% 01-51440-227 DELIVERY SERVICES 382.97217.030.00217.03600.000.00 63.83% 01-51440-229 CAREER DEVELOPMENT 15,967.4232.580.0032.5816,000.000.00 99.80% 01-51440-310 OFFICE SUPPLIES 1,426.39573.61113.09460.522,000.000.00 71.32% 01-51440-340 CELLULAR PHONES 507.00693.0090.00603.001,200.000.00 42.25% 01-51440-355 SUBSCRIPTIONS 2,000.000.000.000.002,000.000.00 100.00% 01-51440-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-51440-365 OFFICE PRINTING COSTS 2,000.000.000.000.002,000.000.00 100.00% 01-51620-200 CONTRACTUAL EXPENSE 4,820.06179.940.00179.945,000.000.00 96.40% 01-51620-201 PROPERTY TAXES & ASSOC. DUES 106,717.3198,153.903,438.0094,715.90204,871.210.00 52.09% 01-51620-202 MARINA POLICE 39,645.7024,505.243,399.0021,106.2460,751.94-3,399.00 65.26% 01-51620-205 RENTAL OF OFFICES 14,343.2515,656.7510,472.755,184.0030,000.000.00 47.81% 01-51620-208 EQUIPMENT LEASES 9,279.003,162.43441.432,721.0012,000.00-441.43 77.33% 01-51620-209 PROPERTY MAINTENENCE COST 431,342.51103,018.4925,440.4577,578.04531,327.00-3,034.00 81.18% 01-51620-210 IN KIND EXPENSE -95,109.3695,109.3610,911.1784,198.190.000.00 0.00% 01-51620-211 VEHICLE MAINTENANCE / FUEL 9,907.0992.910.0092.9110,000.000.00 99.07% 01-51620-212 HURRICANE/PROPERTY CONTINGENCY 35,000.000.000.000.0035,000.000.00 100.00% 01-51620-224 SIGNAGE 20,000.000.000.000.0020,000.000.00 100.00% 01-51620-325 ELECTRICITY COSTS 24,687.315,312.69629.194,683.5030,000.000.00 82.29% 01-51620-326 WATER CHARGES 20,663.314,336.69682.693,654.0025,000.000.00 82.65% 01-51630-200 CONTRACTUAL 150.00450.000.00450.00600.000.00 25.00% 01-51630-209 PROPERTY MAINTENENCE 57,200.9662,799.049,085.3253,713.72120,000.000.00 47.67% 01-51630-241 MARINA FUEL MANAGEMENT 84,901.24160,098.7620,012.34140,086.42245,000.000.00 34.65% 01-51630-242 MARINE FUEL STATION OVERHEAD 32,608.9527,391.054,576.9122,814.1460,000.000.00 54.35% 01-51630-310 OFFICE SUPPLIES 783.34416.660.00416.661,200.000.00 65.28% 01-51630-325 ELECTRIC COSTS 9,480.356,519.65815.365,704.2916,000.000.00 59.25% 01-51630-326 WATER COSTS 4,248.425,751.58551.735,199.8510,000.000.00 42.48% 01-51630-327 GASOLINE & DEISEL FUEL PURCHAS 85,044.14742,155.86131,545.86610,610.00827,200.000.00 10.28% 01-51630-328 MARINA DIESEL SALES TAX 10,913.189,086.821,525.717,561.1120,000.000.00 54.57% 01-51650-200 CONTRACTUAL EXPENSE 1,800.000.000.000.001,800.000.00 100.00% 393 Detail vs Budget Report Date Range: 05/01/2025 - 05/31/2025 6/2/2025 3:16:02 PM Page 3 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01-51650-210 CITY IT SUPPORT 19,370.0015,630.000.0015,630.0035,000.000.00 55.34% 01-51650-211 COMPUTER SOFTWARE & LICENSES 6,000.000.000.000.006,000.000.00 100.00% 01-51650-212 FINANCIAL SOFTWARE MAINTENANCE 19,951.0022,109.000.0022,109.0042,060.000.00 47.43% 01-51650-330 TELEPHONE LINES 5,000.000.000.000.005,000.000.00 100.00% 01-51650-400 EQUIPMENT COSTS 7,146.065,853.940.005,853.9413,000.000.00 54.97% 01-51990-200 CONTRACTUAL EXPENSE - CONTINGENCY 100,000.000.000.000.00100,000.000.00 100.00% 01-57400-100 PERSONNEL SERVICES 70,485.9595,669.0510,895.5084,773.55166,155.000.00 42.42% 01-57400-216 ADVERTISING & PUBLIC NOTICES 28,259.8720,740.133,180.0017,560.1349,000.000.00 57.67% 01-57400-218 ANNUAL REPORT & BROCHURES 4,920.0080.000.0080.005,000.000.00 98.40% 01-57400-225 ASSOC. MEETINGS & SEMINARS 11,442.36557.640.00557.6412,000.000.00 95.35% 01-57400-226 MEMBERSHIP DUES 9,191.661,508.340.001,508.3410,700.000.00 85.90% 01-57400-227 DELIVERY SERVICES 1,500.000.000.000.001,500.000.00 100.00% 01-57400-229 CAREER DEVELOPMENT 10,500.000.000.000.0010,500.000.00 100.00% 01-57400-236 PHOTOGRAPHY / VIDEOS 20,000.000.000.000.0020,000.000.00 100.00% 01-57400-310 OFFICE SUPPLIES 1,590.96409.0416.10392.942,000.000.00 79.55% 01-57400-340 CELLULAR PHONES 902.521,097.48140.56956.922,000.000.00 45.13% 01-57400-355 SUBSCRIPTIONS 1,713.77386.230.00386.232,100.000.00 81.61% 01-57400-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-57400-365 OFFICE PRINTING COSTS 2,728.121,271.88111.421,160.464,000.000.00 68.20% 01-57500-100 PERSONNEL SERVICES 90,432.6575,788.358,709.8067,078.55166,221.000.00 54.41% 01-57500-225 ASSOC. MEETINGS & SEMINARS 9,675.00325.000.00325.0010,000.000.00 96.75% 01-57500-226 MEMBERSHIP DUES 1,706.67893.330.00893.332,600.000.00 65.64% 01-57500-229 CAREER DEVELOPMENT 11,895.00105.000.00105.0012,000.000.00 99.13% 01-57500-310 OFFICE SUPPLIES 1,668.79331.2152.99278.222,000.000.00 83.44% 01-57500-340 CELLULAR PHONES 253.50346.5045.00301.50600.000.00 42.25% 01-57500-355 SUBSCRIPTIONS 500.000.000.000.00500.000.00 100.00% 01-57500-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-59000-151 F.I.C.A.39,501.9340,498.074,871.8935,626.1880,000.000.00 49.38% 01-59000-152 MEDICARE 15,364.079,635.931,139.418,496.5225,000.000.00 61.46% 01-59000-153 RETIREMENT PLAN 401(a)151,182.00198,818.0021,252.00177,566.00350,000.000.00 43.19% 01-59000-154 WORKERS COMP INSURANCE 13,375.751,624.250.001,624.2515,000.000.00 89.17% 01-59000-155 HEALTH INSURANCE 144,681.7255,318.2815,974.3339,343.95200,000.000.00 72.34% 01-59000-156 DENTAL INSURANCE 7,363.212,636.79329.592,307.2010,000.000.00 73.63% 01-59000-157 LIFE INSURANCE 9,478.00522.0072.00450.0010,000.000.00 94.78% 01-59000-158 SHORT / LONG TERM DISABILITY 5,220.194,779.81531.094,248.7210,000.000.00 52.20% 01-59000-159 UNEMPLOYMENT CHARGES 5,000.000.000.000.005,000.000.00 100.00% 01-59000-160 VISION INSURANCE 2,670.40329.6041.20288.403,000.000.00 89.01% 01-59000-161 COMPENSATED ABSENSES 65,000.000.000.000.0065,000.000.00 100.00% 01-59800-990 TRANS OUT TO DEBT SERVICE FUND 0.002,317,425.000.002,317,425.002,317,425.000.00 0.00% 01-59999-990 INTERFUND TRANSFERS OUT 0.0019,710,351.000.0019,710,351.0019,710,351.000.00 0.00% Expense Totals:-34,282.78 27,777,835.13 24,474,291.08 386,326.60 24,860,617.68 2,951,500.23 10.63% 01 - GENERAL FUND Totals:-34,282.78 79,775.13 -1,429,545.13 150,505.11 -1,279,040.02 1,393,097.93 02 - PROJECTS FUND 394 Detail vs Budget Report Date Range: 05/01/2025 - 05/31/2025 6/2/2025 3:16:02 PM Page 4 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining Revenue 02-44100 FESTIVAL & EVENT INCOME 17,991.02-17,991.02-480.00-17,511.020.000.00 0.00% 02-46100 INTEREST INCOME 443,266.96-443,266.96-67,294.42-375,972.540.000.00 0.00% 02-47100 APPLICATION FEES 1,600.00-1,600.000.00-1,600.000.000.00 0.00% 02-48100 MISCELLANEOUS INCOME 2,507,775.05-2,507,775.05-5,759.10-2,502,015.950.000.00 0.00% 02-49100 OTHER FINANCING SOURCES -8,187,298.000.000.000.00-8,187,298.000.00 -100.00% 02-49900 TRANSFERS IN 0.00-19,710,351.000.00-19,710,351.00-19,710,351.000.00 0.00% Revenue Totals:0.00 -27,897,649.00 -22,607,450.51 -73,533.52 -22,680,984.03 -5,216,664.97 -18.70% Expense 02-58100-202 CONTINGENCY EXPENSE 200,000.000.000.000.00200,000.000.00 100.00% 02-58100-203 CONTRACTUAL EXPENSE 1,014,713.5639,203.945,212.6033,991.341,051,150.00-2,767.50 96.53% 02-58100-213 LEGAL FEES 121,056.00164,333.0021,465.50142,867.50285,389.000.00 42.42% 02-58200-401 PROPERTY PURCHASES 7,126,580.231,976,441.37326,914.981,649,526.398,778,021.60-325,000.00 81.19% 02-58200-402 IMPROVEMENTS 4,227,913.005,700.000.005,700.004,233,613.000.00 99.87% 02-58200-404 CONSTRUCTION IN PROGRESS 135,220.2068,616.0068,616.000.00135,220.20-68,616.00 100.00% 02-58200-405 SITE WORK AND DEMOLITION FEES 256,139.6760,032.854,831.0755,201.78316,172.520.00 81.01% 02-58200-406 INFRASTRUCTURE AND STREETSCAPE 10,100,792.901,836,359.180.001,836,359.1811,937,152.080.00 84.62% 02-58400-443 DIFA-ECONOMIC DEVELOPMENT 181,406.00402,118.000.00402,118.00583,524.000.00 31.09% 02-58400-444 ECONOMIC DEVELOPMENT GRANTS 1,128,708.67388,150.2127,996.75360,153.461,576,377.1359,518.25 71.60% 02-58400-445 MARKETING INCENTIVES 197,315.8321,288.176,010.0015,278.17218,604.000.00 90.26% 02-58500-460 COMMUNITY POLICING INNOVATIONS 938,795.73444,691.8243.19444,648.631,383,487.550.00 67.86% 02-58500-470 COMMUNITY SUPPORT PROJECTS 449,296.54235,675.6934,815.17200,860.52650,157.06-34,815.17 69.11% 02-58500-480 COMMUNITY SPECIAL EVENTS 385,574.86261,597.149,572.84252,024.30647,172.000.00 59.58% Expense Totals:-371,680.42 31,996,040.14 5,398,729.27 505,478.10 5,904,207.37 26,463,513.19 82.71% 02 - PROJECTS FUND Totals:-371,680.42 4,098,391.14 -17,208,721.24 431,944.58 -16,776,776.66 21,246,848.22 03 - DEBT SERVICE Revenue 03-46100 INTEREST INCOME 23,731.51-23,731.51-4,684.91-19,046.600.000.00 0.00% 03-49900 TRANSFERS IN 0.00-2,317,425.000.00-2,317,425.00-2,317,425.000.00 0.00% Revenue Totals:0.00 -2,317,425.00 -2,336,471.60 -4,684.91 -2,341,156.51 23,731.51 1.02% Expense 03-59800-814 BOND 2012 PRINCIPAL 1,487,000.000.000.000.001,487,000.000.00 100.00% 03-59800-815 BOND 2015 PRINCIPAL 705,000.000.000.000.00705,000.000.00 100.00% 03-59800-824 BOND 2012 INTEREST 40,767.8036,467.200.0036,467.2077,235.000.00 52.78% 03-59800-826 BOND 2015 INTEREST 23,595.0123,594.990.0023,594.9947,190.000.00 50.00% 03-59800-830 FINANCIAL AGENT FEES 1,000.000.000.000.001,000.000.00 100.00% Expense Totals:0.00 2,317,425.00 60,062.19 0.00 60,062.19 2,257,362.81 97.41% 03 - DEBT SERVICE Totals:0.00 0.00 -2,276,409.41 -4,684.91 -2,281,094.32 2,281,094.32 Report Total:-405,963.20 4,178,166.27 -20,914,675.78 577,764.78 -20,336,911.00 24,921,040.47 395 Detail vs Budget Report Date Range: 05/01/2025 - 05/31/2025 6/2/2025 3:16:02 PM Page 5 of 5 Fund Summary Fund Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining -34,282.78 79,775.13 -1,429,545.13 150,505.11 -1,279,040.02 1,393,097.9301 - GENERAL FUND -371,680.42 4,098,391.14 -17,208,721.24 431,944.58 -16,776,776.66 21,246,848.2202 - PROJECTS FUND 0.00 0.00 -2,276,409.41 -4,684.91 -2,281,094.32 2,281,094.3203 - DEBT SERVICE Report Total:-405,963.20 4,178,166.27 -20,914,675.78 577,764.78 -20,336,911.00 24,921,040.47 396 •Attachment I - May 13, 2025 CRA Meeting Minutes COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CONSENT AGENDA AGENDA ITEM 11.B SUBJECT: Approval of the CRA Board Meeting Minutes for May 13, 2025 SUMMARY: See attached minutes. CRA BOARD OPTIONS: Approve the May 13, 2025 CRA Board Meeting Minutes. ATTACHMENTS: Description 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 •Attachment I - 06.08.21 CRA Board Meeting Minutes •Attachment II - Fully Executed Contract for Lawn Maintenance Services 2021 •Attachment III - Amendment to Renew Standard Form of Agreement •Attachment IV - Lawn Maintenance CO's 2021-2025 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CONSENT AGENDA AGENDA ITEM 11.C SUBJECT: Approval of a One (1) Year Extension of Contract with Vincent and Sons Landscaping, Inc. for Lawn Maintenance of CRA Owned Properties SUMMARY: On June 8, 2021, the CRA Board awarded Vincent and Sons Landscaping, Inc. a four (4) year contract with an option to renew for three (3) additional one-year terms to perform the landscape maintenance on CRA improved properties and vacant lots (see Attachment I). The contract is up for its first one-year renewal on June 30, 2025 (see Attachment II). T he renewal will remain under the same terms of the original contract. The Amendment to Renew Standard Form of Agreement Between Owner and Contractor is provided as Attachment III. Over the past four years, there have been a total of 35 Owner generated change orders to the original contract. The change orders allowed for the addition/deletions of C RA properties as they were purchased/sold (Attachment IV). The fiscal impact provided below is for all properties to date, that are on the maintenance schedule. Vincent and Sons Landscaping, Inc. has been responsive and has exceeded the CRA's expectations. CRA staff would therefore recommend approval of their contract renewal for another year. FISCAL IMPACT: FY 2025-2026 Budget, General Fund, Line Item 01-51620-209 $63,301 ($52,632 for monthly maintenance and $10,669 for quarterly special maintenance) CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approve the Amendment to Renew the Standard Form of Agreement between the CRA and Vincent and Sons Landscaping, Inc. for a one-year period. ATTACHMENTS: Description 418 419 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 8, 2021 Board Member Penserga moved to table the item for staff to bring back more information. Board Member Romelus seconded the motion. The motion passed unanimously. C. Consideration of Award and Contract for Responses to the Invitation to Bid to Perform Landscape Maintenance Services on Properties Owned by the CRA Ms. Utterback explained the current contract is up at the end of June . They went out to bid and received three responses. She reviewed the lowest bid was Vincent and Sons who is the current contractor. Motion Vice Chair Hay moved to approve. Board Member Katz seconded the motion. The motion passed unanimously. 17. Future Agenda Items A. Discussion and Consideration of a Purchase and Development Agreement between the CRA and Habitat for Humanity of South Palm Beach County, Inc. for the CRA Owned Property located at 545 NW 11th Avenue B. Consideration of Award and Contract for Responses for the Management of the Boynton Harbor Marina C. Approval of the FY 2021 -2023 Boynton Harbor Marina Dockage Lease Agreement D. MLK Jr. Boulevard Corridor Commercial Redevelopment and Affordable Multi-Family Rental Apartment Project Update E. Ocean Breeze East Affordable Multi-Family Rental Apartment Project Update 18. Adjournment Mr. Karjalainen read a closing statement explaining how the public could access the video. There being no further business to discuss, Chair Grant adjourned the meeting at 7:30p.m. Catherine Cherry Minutes Specialist 15 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 AMENDMENT TO RENEW STANDARD FORM OF AGREEMENT BETWEEN OWNER AND CONTRACTOR The Contractor Agreement dated June 30, 2021 (the “Agreement”) is hereby renewed through this Amendment to the Standard Form of Agreement made by and between Vincent and Sons Landscaping, Inc. (“Contractor”) and the Boynton Beach Community Redevelopment Agency, located at 100 E. Ocean Avenue, 4th Floor, Boynton Beach, Florida 33435 (hereinafter the “CRA”) (collectively the “parties”). WHEREAS, the parties previously entered into an Agreement; and WHEREAS, the CRA is in need of Contractor Services beyond the termination date of the original Agreement; and WHEREAS, the Agreement provides that the CRA may renew the Agreement for three (3) additional one-year term; and WHEREAS, the parties desire to renew the Agreement under the same terms and conditions except as expressly altered herein; WHEREAS, this Amendment will continue to be in furtherance of the CRA Plan; NOW THEREFORE, in consideration of the mutual covenants and promises set forth herein, the sufficiency of which both parties acknowledge, the parties agree as follows: I. Incorporation. The recitals above and all other information above are hereby incorporated herein as if fully set forth. II. Renewal of the Agreement. The Agreement is hereby renewed for a period of one (1) year. The renewal is subject to the amendments to the Agreement contained in this Amendment. III. Alteration of Terms. The terms of the Agreement remain in full force and effect, except for those terms explicitly amended by this Amendment. Amendments to the Agreement are shown as follows: additions are shown in underlined format; deletions are shown in strikethrough format. Specifically, the paragraphs and subparagraphs from the Agreement identified below shall be amended as follows: a. Dates and Times Amended. The following dates and times in the Agreement are amended as follows: i. Agreement end date is extended for one (1) year from June 30, 2025 to June 30, 2026. IV. Effective Date of this Amendment. This Amendment will become effective at the date and time that the last party signs this Amendment with the services being renewed the day after the prior period’s end date to ensure no lapse in the Contractor Services. The 457 Agreement, as amended by and including this Amendment, will automatically terminate after the performance of the Contractor Services and payment by the CRA, or on June 30, 2026, whichever occurs last. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed on the day and year written below. OWNER: Boynton Beach Community Redevelopment Agency Witness:_________________________ By: _________________________________ Print Name:__________________________ Title:_______________________________ Date: ______________________________ CONTRACTOR: Vincent and Sons Landscaping, Inc. Witness:_________________________ By: _________________________________ Print Name: __________________________ Title: ________________________________ Date:_________________________________ 458 Monthly Invoicing Lot ID #Address Parcel ID Structure or Lot?Schedule Monthly Service Price Quarterly Special Services Price Annual Special Services Price (4 times per year)Original Contract Price $2,384.00 16 MARINA - 110 NE 6th Street & 725 Casa Loma Blvd. 08-43-45-27-03-000-0132 & 08-43-45- 27-60-003-0000 Marina Entry Tower, Open Space, Median & Harbor Master Bldg.2 times per month $420.00 $1,450.00 $5,800.00 Contract Price+CO1 12 211 E. Ocean Avenue 08-43-45-28-03-004-0130 Historic Building 2 times per month-2 & 4 Fridays $210.00 $162.50 $650.00 $2,540.00 15 115 N. Federal Hwy. Parking Lot 08-43-45-28-03-006-0010 Parking Lot 2 times per month-2 & 4 Fridays $97.00 $123.75 $495.00 Contract Price+CO2 14 NE 4th Street & NE 1st Avenue - City Parking Lot 08-43-45-28-03-001-0080 Parking Lot 2 times per month-2 & 4 Fridays $191.00 $825.00 $3,300.00 $2,640.00 12 401-411 E. Boynton Beach Blvd. 08-43-45-21-18-000- 0060/0051/0040 Structures 2 times per month-2 & 4 Fridays $84.00 $6.00 $24.00 Contract Price+CO3 $1,002.00 $2,567.25 $10,269.00 $2,744.00 Contract Price+CO4 $2,796.00 Sold to Pulte Cottage District-17 Vacant Lots-NE 4th & 5th Ave. Not Provided Cottage District 2 times per month-2 & 4 Wednesday $550.00 Contract Price+CO5 $2,692.00 1 E MLK BLVD.08-43-45-21-25-001-0110 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO6 4 Lot 14 E. MLK Blvd. 08-43-45-21-04-000-0140 Vacant lot transferred to CRA from City 4/17/19 2 times per month-2 & 4 Wednesday $52.00 $2,852.00 4 308 E MLK Blvd.08-43-45-21-04-000-0130 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO7 5 Lot 10 NE 10th Avenue- E MLK Blvd.08-43-45-21-04-000-0100 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 $2,800.00 6 NE 10th Avenue-E MLK Blvd.08-43-45-21-04-000-0080 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO8 6 NE 10th Avenue-E MLK Blvd.08-43-45-21-04-000-0070 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 $3,320.00 Contract Price+CO9 7 211 NE 9th Avenue 08-43-45-21-18-000-1700 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 $3,372.00 8 231 NE 9th Avenue 08-43-45-21-18-000-1650 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO10 8 235 NE 9th Avenue 08-43-45-21-18-000-1640 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 $3,528.00 Transfer to City Lots 154, 155 & 156 NE 9th Ave & NE 3rd Street 08-43-45-21-18-000-1540 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO11 Transfer to City 1001 N. Railroad Ave.08-43-45-21-18-000-1510 Lot w/ house to be demo'd-Marcus Spence 2 times per month-2 & 4 Wednesday $52.00 $3,788.00 Contract Price+CO12 Sold to Faith Based CDC 402 NW 12th Avenue 08-43-45-21-14-000-4150 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 $3,736.00 Transfer to BB Condo 1110-1102 N. Federal Hwy.08-43-45-21-32-002-0211/0201 Vacant Lots 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO13 9 407 NE 1st Street 08-43-45-21-18-000-0051 Kalliantas Property 2 times per month-2 & 4 Wednesday $52.00 $3,788.00 10 106 NE 3rd Avenue 08-43-45-21-30-001-0110/0120 Vacant Lot 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO14 Transfer to Habitat 545 NW 11th Avenue 08-43-45-21-14-000-3580 Palm Beach County Land Available Sale 2 times per month-2 & 4 Wednesday $52.00 $3,888.00 $1,382.00 Contract Price+CO15 $4,048.00 BOYNTON BEACH CRA PROPERTIES Lawn Maintenance Schedule with Vincent and Sons Landscaping CATEGORY ONE: Improved Properties CATEGORY TWO: Vacant Lots Cottage District NE 9th AVNUE MLK BLVD. MISC. VACANT LOT Change Order #1 - added to contract T:\PROPERTY OWNED BY CRA\01 PROPERTY INVENTORY & MAPS\01-CRA Property Inventory Spreadsheet 459 Lot ID #Address Parcel ID Structure or Lot?Schedule Monthly Service Price Quarterly Special Services Price Annual Special Services Price (4 times per year)Original Contract Price 2 221 E. MLK Blvd.08-43-45-21-27-001-0220 Tax Deed Purchase 2 times per month-2 & 4 Wednesday $52.00 Contract Price+CO16 3 Lots 11/12 & 13 E MLK Blvd. (2 Lots total @ $52.00 per lot) 08-43-45-21-27-001-0120 & 08-43-45-21-27-001-0110 Larann Vacant Lots 2 times per month-2 & 4 Wednesday $104.00 $4,256.00 $156.00 Contract Price+CO17 $4,308.00 15 MARINA - 110 NE 6th Street & 725 Casa Loma Blvd. 08-43-45-27-03-000-0132 & 08-43-45- 27-60-003-0000 Improved Property Every 10 days $100.00 Contract Price+CO18 $4,360.00 11 401-411 E. Boynton Beach Blvd. 08-43-45-21-18-000- 0060/0051/0040 Bldgs demo'd sod added 2 times per month-2 & 4 Fridays $104.00 Contract Price+CO19 $4,412.00 Contract Price+CO20 Sold to Pulte 115 NE 4th Avenue 08-43-45-21-29-003-0052 Bldg. being demo'd 2 times per month-2 & 4 Fridays $52.00 $4,464.00 Contract Price+CO21 $4,360.00 Transfer to City Lots 154, 155 & 156 NE 9th Ave & NE 3rd Street 08-43-45-21-18-000-1540 Vacant Lot 2 times per month-2 & 4 Wednesday -$52.00 Contract Price+CO22 Transfer to City 1001 N. Railroad Ave.08-43-45-21-18-000-1510 Lot w/ house to be demo'd-Marcus Spence 2 times per month-2 & 4 Wednesday -$52.00 $4,412.00 -$104.00 Contract Price+CO23 $4,464.00 Contract Price+CO24 16 508 E Boynton Beach Blvd.08-43-45-28-03-001-0060 Building & Parking Lot 2 times per month $160.00 $4,516.00 Contract Price+CO25 $4,568.00 Transfer to Habitat 545 NW 11th Avenue 08-43-45-21-14-000-3580 Palm Beach County Land Available Sale - Habitat 2 times per month-2 & 4 Wednesday -$52.00 Contract Price+CO26 $4,620.00 14 115 N. Fed. Hwy.08-43-45-28-03-006-0010 Litter/Garbage Pickup; Mon & Fri - $130 per week (previous contract was for Mon, Wed & Fri $195 per week - $780 monthly) Mon & Fri every week $520.00 We are getting 4 1/2 months of free litter pick up because we were double billed for March, April, May-2021 under old contract. $780 x 3 months = $2,340 $520 x 4.5 months = $2340 So $520 under new contract will not begin billing until November. We get July, August, Sept., October and 1/2 of November at no charge. Contract Price+CO27 Sold to Faith Based CDC 404 NW 12th Avenue 08-43-45-21-14-000-4140 Vacant Lot PBCHA Auction 2 times per month-2 & 4 Wednesday $52.00 $4,412.00 Contract Price+CO28 $4,464.00 17 511-529 E. Ocean Avenue 08-43-45-28-03-006-0100 08-43-45-28-03-006-0111 08-43-45-28-03-006-0120 Bldg. being demo'd 2 times per month-2 & 4 Fridays $156.00 Contract Price+CO29 $4,516.00 Contract Price+CO30 13 Parking Lots @ NE 4th Street & NE 1st Ave 08-43-45-28-03-001-0080 08-43-45-28-03-001-0100 Litter/Garbage Pickup; Mon & Fri - $130 per week Mon & Fri every week $260.00 $3,862.00 Change Order #10 - added to contract Change Order #3 - added to contract Change Order #9 - added to contract Change Order #5 - deduct from contract Change Order #2 - added to contract Change Order #6 - added to contract Change Order #4 - added to contract Change Order #7 - deducted to contract Change Order #8 - added to contract Change Order #11 - added to contract T:\PROPERTY OWNED BY CRA\01 PROPERTY INVENTORY & MAPS\01-CRA Property Inventory Spreadsheet 460 Lot ID #Address Parcel ID Structure or Lot?Schedule Monthly Service Price Quarterly Special Services Price Annual Special Services Price (4 times per year)Original Contract Price Contract Price+CO31 $4,022.00 Transfer to BB Condo 1110-1102 N. Federal Hwy.08-43-45-21-32-002-0211/0201 Vacant Lots 2 times per month-2 & 4 Wednesday -$52.00 Contract Price+CO32 $4,074.00 Contract Price+CO33 Sold to Pulte 133 NE 4th Avenue 08-43-45-21-29-003-0031 Bldg. being demo'd 2 times per month-2 & 4 Fridays $52.00 $4,282.00 Contract Price+CO34 $4,334.00 15 MARINA - 110 NE 6th Street & 725 Casa Loma Blvd. 08-43-45-27-03-000-0132 & 08-43-45- 27-60-003-0000 Improved Property Every 7 days (4 times per month)$100.00 Contract Price+CO35 $4,386.00 18 209 N Seacrest Blvd.08-43-45-28-10-004-0221 Improved Property 2 times per month $160.00 212 NW 3rd Court 08-43-45-21-07-001-1180 $208.00 222 NW 3rd Court 08-43-45-21-07-001-1160 219 West Boynton Beach Boulevard 08-43-45-21-07-001-1120 225 West Boynton Beach Boulevard 08-43-45-21-07-001-1131 19 Lot 177 NW 2nd Street 08-43-45-21-07-001-1771 Vacant Lot 2 times per month $52.00 20 433 West Boynton Beach Blvd.08-43-45-21-15-000-0830 Vacant Lot 2 times per month $52.00 21 Lot 26 NE 10th Ave (E. MLK)08-43-45-21-27-001-0260 Vacant Lot 2 times per month $52.00 This is the Bride of Christ Lot that we sold to them and it was reverted back to the CRA because they could not finance the daycare project. 22 1101 N. Fed. Hwy 08-43-45-21-32-008-0010 Vacant Lot 2 times per month $52.00 Ho Property Transferred from City to CRA Sold to Faith Based CDC 402 Vacant Lot 2 times per month -$52.00 Sold to Faith Based CDC 404 Vacant Lot 2 times per month -$52.00 23 Lots 348-350 NW 11th Ave 08-43-45-21-14-000-3480 Vacant Lot 2 times per month $52.00 24 1111 S Federal Hwy 08-43-45-28-24-000-0120 Vacant Lot 2 times per month $52.00 25 1022 N Federal Hwy 08-43-45-21-32-003-0200 Vacant Lot 2 times per month $52.00 Change Order #18 - added to contract Change Order #17 - added to contract Change Order #16 - added to contract Now being maintained by OHLA for FDOT staging area for BB Blvd. Streetscape Vacant Lot Change Order #21 - deduct from contract Change Order #20 - added to contract Change Order #19 - added to contract Change Order #23 - added to contract Change Order #24 - added to contract Change Order #22 - added to contract Change Order #12 - deducted from contract 2 times per month Change Order #15 - added to contract Change Order #14 - added to contract Change Order #13 - added to contract T:\PROPERTY OWNED BY CRA\01 PROPERTY INVENTORY & MAPS\01-CRA Property Inventory Spreadsheet 461 Lot ID #Address Parcel ID Structure or Lot?Schedule Monthly Service Price Quarterly Special Services Price Annual Special Services Price (4 times per year)Original Contract Price 26 507 NW 12th Avenue 08-43-45-21-14-000-4360 Vacant Lot 2 times per month $52.00 27 524 NW 3rd Street 08-43-45-21-16-000-0150 Vacant Lot 2 times per month $52.00 212 NW 3rd Court 08-43-45-21-07-001-1180 -$208.00 222 NW 3rd Court 08-43-45-21-07-001-1160 219 West Boynton Beach Boulevard 08-43-45-21-07-001-1120 225 West Boynton Beach Boulevard 08-43-45-21-07-001-1131 28 1017 N. Railroad Ave.08-43-45-21-04-000-0011 Vacant Lot 2 times per month $52.00 3 321 E MLK Blvd.08-43-45-21-27-001-015-Structure to be demo'd 2 times per month $52.00 Sold to Pulte Cottage District Lots 2 times per month -$550.00 Sold to Pulte 115 NE 4th Ave 08-43-45-21-29-003-0052 Structure to be demo'd 2 times per month -$52.00 Sold to Pulte 133 NE 4th Ave 08-43-45-21-29-003-0031 Structure to be demo'd 2 times per month -$52.00 29 419 N Seacrest Blvd.08-43-45-21-07-001-1450 Structure-Qtryly maintenance will be $100 per quarter.2 times per month $160.00 3 323-325 E MLK Blvd.08-43-45-21-27-001-0140 Structure to be demo'd 2 times per month $52.00 212 NW 3rd Court 08-43-45-21-07-001-1180 222 NW 3rd Court 08-43-45-21-07-001-1160 219 West Boynton Beach Boulevard 08-43-45-21-07-001-1120 225 West Boynton Beach Boulevard 08-43-45-21-07-001-1131 $208.00 8 225 NE 9th Avenue 08-43-45-21-18-000-1660 Vacant Lot 2 times per month $52.00 31 225 NE 9th Avenue 08-43-45-21-18-000-1660 Vacant Lot 2 times per month $52.00 Change Order #33 - added to contract 30 FDOT staging area for BB Streetscape project has been completed and sod has been installed and is now back on the CRA maintenance schedule 2 times per month Change Order #34 - added to contract Change Order #30 - deducted from contract Change Order #28 - add to contract Change Order #27 - deduct from contract FDOT staging area for BB Streetscape project Vacant Lot 2 times per month Change Order #29 - added to contract Change Order #25 - added to contract Change Order #26 - added to contract Change Order #35 - added to contract Change Order #32 - added to contract Change Order #31 - added to contract T:\PROPERTY OWNED BY CRA\01 PROPERTY INVENTORY & MAPS\01-CRA Property Inventory Spreadsheet 462 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CRA ADVISORY BOARD AGENDA ITEM 13.A SUBJECT: Pending Assignments - Assignments from the CRA Board Assigned at the February 13, 2024 and the January 14, 2025 CRA Monthly Board Meetings 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). The CRAB Board finalized their presentation on the 2016 CRA Plan Revision Recommendations together at their January meeting and presented their findings at the January 14, 2025 CRA Board Meeting. While the CRA Board was discussing the CRAB Board's presentation at the January 14, 2025 Meeting, the CRA Board approved the following tasks be assigned to the CRA Advisory Board (CRAB): 1. Investigate specifics including locations for the splash pad in the Cultural District. 2. Continue discussion and research ideas/names for renaming streets. 3. Research and investigate opportunities to honor the two (2) Heisman Trophy winners that are from Boynton Beach. Examples include statutes/monuments and street renaming. 4. Recommendations for changing or inclusion of possible historic district or ways to incorporate historic preservation within our CRA Plan. The CRAB Board continued the discussion of ways that are above and beyond the normal City 463 functions to beautify the area within the CRA District at the May 1, 2025 meeting, specifically the beautification of Palmetto Greens Linear Park. The Board also discussed the possibility of an interlocal agreement (ILA) with FDOT to beautify the 95 exit corridors. The Board agreed to come to the June meeting with 3-5 additional suggestions on ways to beautify the area within the CRA District above what the City requires. The Board will continue the splash pad conversation, as well as, discuss street naming ideas and ways to honor the two (2) Heisman Trophy winners at their June 5, 2025 meeting. FISCAL IMPACT: To be determined. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined by the CRA Board. 464 •Attachment I - Request for Proposal from S. Renee Narloch & Associates •Attachment II - BBCRA Timeline •Attachment III - BBCRA Executive Director Brochure COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.A SUBJECT: Update on Recruitment of Executive Director Candidates by S. Renee Narloch & Associates SUMMARY: On September 10, 2024, the CRA Board directed staff to research Executive Recruitment Firms as an option for securing a viable candidate for the CRA Executive Director position. Staff solicited proposals for Executive Recruitment Firms and had five responses. At the January 14, 2025 meeting, the CRA Board chose S. Renee Narloch & Associates as the executive recruitment firm (see Attachment I). After meeting with most of the CRA Board members, on March 10, 2025, S. Renee Narloch & Associates sent a tentative timeline along with a brochure to post on different outlets in order to receive viable candidates for the position (see Attachments II & III). S. Renee Narloch will be present for an update at the June 2025 meeting. FISCAL IMPACT: FY 2024-2025 General Fund Budget, Executive Department; Line Item #01-51230-100 CRA BOARD OPTIONS: To be determined by the CRA Board. ATTACHMENTS: Description 465 A PROPOSAL TO CONDUCT EXECUTIVE RECRUITMENT SERVICES FOR EEXXEECCUUTTIIVVEE DDIIRREECCTTOO RR ON BEHALF OF THE BBOOYYNNTTOONN BBEE AACCHH CCOO MM MM UUNNIITTYY RREEDDEEVVEELLOO PPMM EENNTT AAGGEENNCCYY ,, FFLLOORRIIDDAA S. REN ÉE NARLOCH, PRESIDENT 2910 Kerry Forest Pkwy D4-242, Tallahassee, FL 32309 P 850.391.0000 info@srnsearch.com www.srnsearch.com 466 2910 Kerry Forest Pkwy D4-242, Tallahassee, FL 32309  T 850.391.0000 December 17, 2024 Ms. Vicki Curfman Administrative Assistant Boynton Beach Community Redevelopment Agency 100 E Ocean Ave, 4th Floor Boynton Beach, FL 33435 Dear Ms. Curfman: We appreciate the opportunity to provide the Boynton Beach Community Redevelopment Agency with a proposal to conduct a search for the position of Executive Director. Our proposal includes an overview of our qualifications and costs related to our services. With respect to th is recruitment for the Boynton Beach Community Redevelopment Agency , you should know: S. Renée Narloch & Associates has extensive experience conducting quality searches that result in the placement of candidates ideally suited to clients ’ needs. S. Renée Narloch & Associates is incorporated in Florida and is a small, woman -owned business. For many years, Ms. Narloch, President, served as the Senior Vice President of Recruitment for a nation al public sector consulting firm, responsible for recruitments in 40+ states. Her career in public sector recruitment spans over 25 years, during which time she has participated in hundreds of public sector searches nationwide. S. Renée Narloch & Associates is currently conducting recruitments on behalf of Seminole County, FL (Utilities Director; Building Official); Franklin County, OH (Appraisal Director); City of Sugar Land, TX (Controller); and the City of West Palm Beach, FL (Traffic Engineer). Ms. S. Renée Narloch, President, has extensive experience conducting public sector executive recruitments throughout the nation, including more than 400 searches for clients such as the TOHO Water Authority , FL (Executive Director; General Counsel); Western Reserve Transit Authority (WRTA), OH (Executive Director ); Housing Authority of the City of Laredo (LHA), TX (Executive Director); Children’s Board of Hillsborough C ounty, FL (Executive Director); Florida Public Transportation Association (Executive Director); City of Delray Beach, FL (City Attorney); City of Dania Beach, FL (City Manager); City of Coral Springs, FL (City Manager ; Deputy City Manager (2 positions); Director of Economic Development ; Director of Financial Services ); City of West Palm Beach, FL (Director of Public Utilities; Director of Engineering Services); City of Boca Raton, FL (Building Official; Deputy Financial Services Director; Director of Human Resources; Risk Manager ); City of Fort Lauderdale, FL (City Manager; Assistant City Manager ; 467 2910 Kerry Forest Pkwy D4-242, Tallahassee, FL 32309  T 850.391.0000 Building Official; City Attorney; Deputy Director of Human Resources; Director of Sustainable Development); City of Cape Coral, FL (City Attorney ; Public Works Director ); International Association of Campus Law Enforcement Admin (IACLEA), MD (Executive Director); Workforce Development Board (WDB), OH (Executive Director/CEO); Portsmouth Redevelopment and Housing Authority (PRHA), VA (Executive Director ); Louisiana Housing Corporation, LA (Executive Director); New Orleans Redevelopment Authority, LA (Executive Director); and many others. Ms. Narloch will conduct the recruitment for the Executive Director for the Boynton Beach Community Redevelopment Agency . A sample of past clients is included in our proposal (Clients, Page 7). S. Ren ée Narloch & Associates has highly trained staff, a vast network of contacts and professional affiliations in public sector management, and a proven recruitment process tailored to our clients’ needs, which will result in a quality pool of candidates. Thank you for your consideration . Please do not hesitate to contact us at 850 .391.0000 should you have questions or need additional information . Sincerely, S. Renée Narloch, President 468 TABLE OF CONTENTS ABOUT US ________________________________________________________ 1 O UR UNDERSTANDING OF THE REQUESTED S ERVICES ..................................................... 1 PRIMARY C ONTACT .................................................................................................................................................. 1 OUR FIRM HISTORY AND E XPERIENCE .................................................................................................. 1 SMALL BUSINESS/MINORITY B USINESS ................................................................................................ 2 STATEMENT OF PROFESSIONAL S TANDARDS ............................................................................. 2 OUR RECRUITMENT PROCESS ___________________________________ 3 DEVELOPING THE CANDIDATE P ROFILE ............................................................................................. 3 ADVERTISING CAMPAIGN AND R ECRUITMENT BROCHURE ....................................... 3 RECRUITING CANDIDATES ................................................................................................................................. 3 SCREENING C ANDIDATES ................................................................................................................................ 4 PRELIMINARY INTERVIEWS ................................................................................................................................... 4 PUBLIC RECORDS SEARCH ................................................................................................................................. 4 RECOMMENDATIONS ........................................................................................................................................... 4 FINAL INTERVIEWS ........................................................................................................................................................ 4 BACKGROUND CHECKS /DETAILED REFERENCE C HECKS .............................................. 5 NEGOTIATIONS ............................................................................................................................................................. 5 COMPLETE ADMINISTRATIVE A SSISTANCE ..................................................................................... 5 THE TEAM ________________________________________________________ 6 S. RENÉE NARLOCH , PRESIDENT ................................................................................................................... 6 ELLIOTT S. PERVINICH, VICE PRESIDENT ................................................................................................. 6 LIANA VELEZ THOMPSON , SENIOR CONSULTANT................................................................. 6 CLIENTS/REFERENCES ___________________________________________ 7 CLIENTS.................................................................................................................................................................................... 7 REFERENCES ....................................................................................................................................................................... 9 COST PROPOSAL ______________________________________________ 10 PROFESSIONAL FEE AND E XPENSES .................................................................................................. 10 CANDIDATE T RAVEL ............................................................................................................................................. 10 PAYMENT ......................................................................................................................................................................... 10 G UARANTEE .................................................................................................................................................................. 10 SCHEDULE ........................................................................................................................................................................ 11 469 S. RENÉE N ARLOCH & ASSOCIATES A BOUT US PAGE 1 OUR UNDERSTANDING OF THE REQUESTED SERVICES S. Renée Narloch & Associates is highly qualified to assist the Boynton Beach Community Redevelopment Agency (BBCRA) in the recruitment of the new Executive Director . We have extensive experience providing recruitment services, ranging from the initial contact with candidates to the successful hiring and placement of candidates. We are able to successfully manag e all aspects of the recruitment process . We will work closely with the BBCRA to protect the integrity of the recruitment and to ensure a successful outcome. The BBCRA can be assured we will place a high priority on this recruitment, and our dedicated staff will provide their full attention throughout the entire recruitment process. Our recruiters have serviced hundreds of public sector clients, and we understand the importance of an objective and thorough process. PRIMARY CONTACT Ms. S. Renée Narloch, President, will conduct the Executive Director recruitment for the Boynton Beach Community Redevelopment Agency . Her contact information is as follows: S. Renée Narloch, President 2910 Kerry Forest Pkwy D4 -242 Tallahassee, FL 32309 P: 850.391.0000 Email: reneen @srnsearch.com Website: www.srnsearch.com OUR FIRM HISTORY AND EXPERIENCE S. Renée Narloch & Associates’ recruiters are known throughout the industry as leading public sector recruiters by both clients and candidates. We have a reputation for conducting quality searches that result in the placement of candidates ideally suited to meet our clients’ needs. We pride ourselves on our responsiveness to clients and candidates , and we assure the Boynton Beach Community Redevelopment Agency that the highest caliber of service will be provided throughout the recruitment process. S. Renée N arloch & Associates is incorporated in the State of Florida and is a small, woman-owned business. For many years, Ms. Narloch served as the Senior Vice President of Recruitment for a national public sector consulting firm. He r career in public sector recruitment spans over 25 years , during which time she has participated in hundreds of public sector searches nationwide. In addition, our firm is comprised of individuals who are highly trained and experienced in the recruitment of public sector executives . The office of S. Renée Narloch & Associates is in Tallahassee, Florida. S. Renée Narloch & Associates is currently conducting recruitments on behalf of Seminole County, FL (Utilities Director; Building Official); Franklin County, OH (Appraisal Director); City of Sugar Land, TX (Controller); and the City of West Palm Beach, FL (Traffic Engineer). ABOUT US 470 S. RENÉE N ARLOCH & ASSOCIATES A BOUT US PAGE 2 Ms. S. Renée Narloch, President, has extensive experience conducting public sector executive recruitments throughout the nation, including more than 400 searches for clients such as the TOHO Water Authority, FL (Executive Director; General Counsel); Western Reserve Transit Authority (WRTA), OH (Executive Director ); Housing Authority of the City of Laredo (LHA), TX (Executive Director); Children’s Board of Hillsborough C ounty, FL (Executive Director); Florida Public Transportation Association (Executive Director); City of Delray Beach, FL (City Attorney); City of Dania Beach, FL (City Manager); City of Coral Springs, FL (City Manager; Deputy City Manager (2 positions); Director of Economic Development ; Director of Financial Services); City of West Palm Beach, FL (Director of Public Utilities; Director of Engineering Services); City of Boca Raton, FL (Building Official ; Deputy Financial Services Director; Director of Human Resources; Risk Manager ); City of Fort Lauderdale, FL (City Manager; Assistant City Manager ; Building Official; City Attorney; Deputy Director of Human Resources ; Director of Sustainable Development ); City of Cape Coral, FL (City Attorney ; Public Works Director ); International Association of Campus Law Enforcement Admin (IACLEA), MD (Executive Director ); Workforce Development Board (WDB), OH (Executive Director/CEO ); Portsmouth Redevelopment and Housing Authority (PRHA), VA (Executive Director); Louisiana Housing Corporation, LA (Executive Director); New Orleans Redevelopment Authority, LA (Executive Director); and many others. Ms. Narloch will conduct the recruitment for the Executive Director for the Boynton Beach Community Redevelopment Agency . She will be assisted by other senior staff members, as outlined in this proposal (The Team, Page 6). A sample of past clients is included in our proposal (Clients, Page 7). We maintain a database of potential candidates, and our vast network of contacts and resources will be invaluable in identifying outstanding candidates, including those who may not be currently looking for opportunities. Our experience, combined with our proven recruitment process, expansive network of contacts, and knowledge of outstanding candidates , will ensure the Boynton Beach Community Redevelopment Agency has a quality group of finalists from which to select the new Executive Director . SMALL BUSINESS/MINORITY BUSINESS S. Renée Narloch & Associates is , by federal and state guidelines , considered a small, woman -owned business based on the size of our firm, our annual business earnings , and the percentage of ownership held (100%) by a woman /minority. STATEMENT OF PROFESSIONAL STANDARDS S. Renée Narloch & Associates believes in sound and ethical business practices. We understand that confidence and respect are imperative to our success. Our services to clients and candidates involve relationships that depend on good faith efforts. We conduct business forthrightly with no intentional misrepresentations, which could mislead clients or candidates. We refrain from using any sourcing techniques that involve deception or falsehood and do not engage in activities that violate antitrust laws. Communication between us, our clients, and candidates is impartial and accurate . We make a concerted effort to see that the position, our clients, and candidates are represented honestly and factually. We honor the confidentiality of proprietary information received from clients and candidates and will disclose any knowledge of potential conflicts of interest to client agencies and candidates. 471 S. RENÉE N ARLOCH & ASSOCIATES O UR RECRUITMENT PROCESS PAGE 3 OUR RECRUITMENT PROCESS S. Renée Narloch & Associates ’ unique, client-driven approach to executive search will ensure that the Boynton Beach Community Redevelopment Agency has a pool of high-quality candidates from which to select the new Executive Director . Outlined below are the services we provide in our recruitment process. DEVELOPING THE CANDIDATE PROFILE Our understanding of the BBCRA’s requirements will be the foundation of a successful search. We will work directly with the BBCRA Board, staff, and others involved in the process in order to learn as much as possible about what the organization expects of a new Executive Director. We can also meet with other key staff or community members to ga ther information . We want to learn about the values and culture of the organization, as well as understand the current issues, challenges , and opportunities that face the Boynton Beach Community Redevelopment Agency . We also want to be fully acquainted with the BBCRA’s expectations regarding the knowledge, skills , and abilities sought in the ideal candidate, and we will work with your organization to identify expectations regarding education and experience. Additionally, we want to discuss expectations regarding compensation and other items necessary to complete the successful appointment of the ideal candidate. As part of this process, we will provide an evaluation of the compensation and benefits of the Executive Director position. Based on these discussions, we will develop a profile that addres ses the responsibilities, core competencies and professional characteristics and traits, education and training, operational and organization al issues, and other factors relevant to this position. The profile that we develop together at this stage will guide our recruitment efforts. ADVERTISING C AMPAIGN AND RECRUITMENT BROCHURE After gaining an understanding of the BBCRA’s needs, we will design an effective advertising campaign that is appropriate for the recruitment. We will focus on professional journals that are specifically suited to the Executive Director search, such as NAHRO, utilizing venues that will ensure a diverse pool of applicants , including qualified minority and women candidates . We will also utilize social media and will develop a professional recruitment brochure on the BBCRA’s behalf that will discuss the community, organization, position , and compensation. Once completed, we will mail the brochure to an extensive audience, making them aware of the exciting opportunity with the Boynton Beach Community Redevelopment Agency . RECRUITING CANDIDATES After cross-referencing the profile of the ideal candidate with our database of thousands of candidates and our contacts in the field, we will conduct an aggressive outreach effort that includes making personal calls to prospective applicants in order to identify and recruit outstanding candidates, including qualified minority and women candidates . We realize that the best candidate is often not looking for a new job , and this is the person that we actively pursue to become a candidate. Aggressively marketing the Executive Director position to prospective candidates will be essential to the success of the search. 472 S. RENÉE N ARLOCH & ASSOCIATES O UR RECRUITMENT PROCESS PAGE 4 SCREENING CANDIDATES Following the closing date for the recruitment, we will screen all resumes and cover letters using the criteria established in our initial meetings to narrow the field of candidates. PRELIMINARY INTERVIEWS We will conduct preliminary interviews with the top 10 to 12 candidates in order to determine which candidates have the greatest potential to succeed in your organization. During the interviews, we will explore each candidate’s background and experience as it pertains to the Executive Director position. In addition, we will discuss the candidate’s motivation for applying for the position and make an assessment of his/her knowledge, skills , and abilities. We will devote specific attention to determining the likelihood of the candidate’s acceptance of the position if an of fer of employment is made. PUBLIC RECORDS SEARCH Following the interviews, we will conduct a review of published articles that reference each candidate. Various sources will be consulted , including Lexis-Nexis™, a newspaper/magazine search engine, Google, and local papers from the communities in which the candidates have worked. This brings to our attention any further detailed inquiries that we may need to make at this time. RECOMMENDATIONS Based on the information gathered through meetings with your organization and preliminary interviews with candidates, we will typically recommend three to five candidates for your consideration. We will prepare a report on each candidate that focuses on the results of our interviews and public record searches , to include detailed information pertaining to the candidates’ professional experiences and accomplishments, strengths and potential gaps, and background information. We will make specific recommendations, but the final selection of those to be considered will be up to you. FINAL INTERVIEWS Our years of experience will be invaluable as we help you to develop an interview process that objectively assesses the qualifications of each candidate. We will adopt an approach that fits your needs, whether it is a traditional interview, multiple interview panel , or assessment center process. We will provide you with suggested interview questions and rating forms, and we will be present at the interviews to facilitate the process. Our expertise lies in facilitating the discussion that can bring about a consensus regarding the final candidates . We will work closely with your staff to coordinate and schedule interviews and candidate travel. Our goal is to ensure that each candidate has a very positive experience since the manner in which the entire process is conducted will have an effec t on the candidates’ perception of your organization. 473 S. RENÉE N ARLOCH & ASSOCIATES O UR RECRUITMENT PROCESS PAGE 5 BACKGROUND CHECKS/DETAILED REFERENCE CHECKS Based on final interviews, we will conduct a credit, criminal, civil litigation, and motor vehicle record checks for the top one to three candidates. In addition, those candidates will be the subjects of detailed, confidential reference checks. In order to gain an accurate and honest appraisal of the candidates’ strengths and weaknesses, we will talk candidly with people who have direct knowledge of their work and management style. We will ask candidates to provide the names of their supervisors, subordinates , and peers for the past several years. Additionally, we will make a point of speaking confidentially to individuals known to have insight into a candidate’s abilities, but who may not be on his/her preferred list of contacts. At this stage in the recruitment, we will also verify candidates’ educational backgrounds and any required certifications . NEGOTIATIONS We recognize the critical importance of successful negotiations and can serve as your representative during this process. Our experience provides us with insight into current industry standards and expectations in negotiating c ontracts, and we will be available to advise you regarding current approaches to difficult issues such as housing and relocation. Working to secure the appointment of your chosen candidate, we will represent your interests and advise you regarding salary, benefits , and employment agreements. We have the expertise to turn a very sensitive aspect of the recruitment into one that is viewed positively by both you and the candidate. COMPLETE ADMINISTRATIVE ASSISTANCE Throughout the recruitment, we will provide the BBCRA with updates on the status of the searc h, and we will provide a schedule for actions and deliverables at the beginning of the process. We will also take care of all administrative details on your behalf. Candidates will receive personal correspondence advising them of their status at each critical point during the recruitment. In addition, we will respond to inquiries about the status of their candidacy within 24 hours. Every administrative detail will receive our attention. 474 S. RENÉE N ARLOCH & ASSOCIATES THE TEAM P AGE 6 THE TEAM Our staff at S. Renée Narloch & Associates is comprised of a diverse group of individuals who have extensive experience in the recruitment of public sector executives. The team assigned to the Executive Director search will include Ms. Narloch , who will be the lead consultant, with assistance from Mr. Elliott Pervinich and Ms. Liana Velez Thompson . S. RENÉE NARLOCH , PRESIDENT Ms. Narloch is the President of S. Renée Narloch & Associates and the Director of our office located in Tallahassee, Florida. She is recognized as one of the nation’s leading public sector recruiters. She has more than 25 years of experience conducting public sector recruitments and has participated in more than 400 searches nationwide. Prior to forming S. Renée Narloch & Associates, Ms. Narloch spent ten years as the Senior Vice President of a public sector executive search firm with responsibilities for clients in 40 states from Texas northward to the East Coast. She also previously served as a Senior Recruiter with DMG and MAXIMUS with sole responsibility for the firm’s executive search practice in the Southeastern, Mid-Atlantic, and Mid-Western states. Ms. Narloch is considered an expert in public sector recruitment and is often a guest speaker at the International City/County Management Association (ICMA) Annual Conference. Ms. Narloch received her Bachelor of Science degree in Information Studies, summa cum laude, from Florida State University, Tallahassee, Florida. ELLIOTT S. PERVINICH , VICE PRESIDENT Mr. Pervinich is the Vice President of S. Renée Narloch & Associates ’ office located in Tallahassee, Florida. He concentrates on client outreach and business operations. Mr. Pervinich previously worked for a local city government in central Texas as a team -building trainer and facilitator in corporate development, which has given him great insight into the needs of our clients. He has twelve years of experience working in executive administration in both the local government and the for-profit sectors. Mr. Pervinich received his Bachelor of Science degree in Recreation and Leisure Services Administration from Florida State University, Tallahassee, Florida. LIANA VELEZ THOMPSON , SENIOR CONSULTANT As a Senior Consultant with S. Renée Narloch & Associates, Ms. Thompson is responsible for research, candidate recruitment, screening, reference checks, and background verifications. She focuses on client communication and works closely with clients to coordinate candidate outreach and ensure a successful search. Prior to joining S. Renée Narloch & Associates, Ms. Thompson spent several years in the field of special education . Ms. Thompson received her Bachelor of Arts degree, magna cum laude, and a Master of Special Education from Florida State University, Tallahassee, Florida. 475 S. RENÉE N ARLOCH & ASSOCIATES C LIENTS/REFERENCES PAGE 7 CLIENTS/REFERENCES CLIENTS S. Renée Narloch & Associates' recruiters have extensive experience, placing more than 400 public sector professionals . Below is a list of some of the clients for which Ms. Narloch has recruited in the last few years. For a complete client list, please contact us . Children’s Board of Hillsborough County, FL Executive Director Florida Public Transportation Association Executive Director TOHO Water Authority, FL Executive Director; General Counsel Housing Authority of the City of Laredo (LHA), TX Executive Director City of West Palm Beach, FL Director of Public Utilities; Director of Engineering Services City of Delray Beach, FL City Attorney City of Dania Beach, FL City Manager City of Coral Springs, FL City Manager; Director of Economic Development; Deputy City Manager (2 positions); Director of Finance; Police Chief City of Coconut Creek, FL City Attorney City of Cape Coral, FL Public Works Director ; City Attorney City of Boca Raton, FL Building Official; Risk Manager City of Fort Lauderdale, FL City Manager; Assistant City Manager; Building Official; City Attorney; Director of Sustainable Development; Deputy Director of Human Resources City of Miami Beach, FL City Manager International Association of Campus Law Enforcement Administrators (IACLEA), MD Executive Director Western Reserve Transit Authority, OH Executive Director Workforce Development Board (WDB), OH Executive Director/CEO Portsmouth Redevelopment & Housing Authority (PRHA), VA Executive Director Louisiana Housing Corporation, LA Executive Director New Orleans Redevelopment Authority, LA Executive Director Seminole County, FL County Manager; County Attorney City of Port St. Lucie, FL City Attorney City of Safety Harbor , FL City Manager City of St. Pete Beach, FL City Manager; Building Official City of Dunedin, FL Community Development Director; Communications Director; City Manager; Finance Director; City Clerk City of Hallandale Beach, FL Comptroller City of Tallahassee, FL City Manager; Human Resource Director; Fire Chief; Director of Airport; Assistant General Manager - Underground Utilities & Public Infrastructure (Engineering Division) City of Quincy, FL Finance Director City of Margate, FL City Attorney; Director of Environmental and Engineering Services City of Gainesville, FL City Attorney; City Auditor; Chief Plans Examiner; Building Inspector; Planner IV Orange County, FL Chief of Corrections City of St. Cloud, FL IT Director; Environmental Utilities Director; Human Resources & Risk Management Director; Police Chief Early Learning Coalition of Broward County, FL Chief Executive Officer Consolidated Dispatch Agency (Tallahassee), FL Director SOS Children’s Villages – Florida Chief Executive Officer Pinellas Suncoast Transit Authority (PSTA), FL Chief Financial Officer Sebring Airport Authority (SAA), FL Airport Manager Community Coordinated Care for Children, FL Chief Officer of Education 476 S. RENÉE N ARLOCH & ASSOCIATES C LIENTS/REFERENCES PAGE 8 Palm Beach County, FL County Administrator; Director of Capital Improvements Broward County, FL Assistant Director of Economic & Small Business Development; County Attorney; Port Everglades Chief Executive/Port Director; Port Everglades Director of Business Development Leon County (Tallahassee), FL Building Official Alachua County, FL County Manager Sumter County, FL Public Works Director; Fire Chief; Development Services Director; Assistant Public Works Director Engineer; Staff Engineer Pasco County, FL County Manager Lee County, FL County Manager; County Attorney Collier County, FL Director of Facilities Management Hillsborough County, FL Director of Head Start; Affordable Housing Services Director; County Administrato r Miami-Dade County, FL Public Housing and Community Development Director of Public Housing Division; PHCD Development Director; RAD Program Manager; Housing Choice Voucher Division Director City of Thomasville, GA City Manager; Assistant City Manager; City Engineer City of Alpharetta, GA Director of Economic Development Housing Authority of the City of Tulsa, OK President/CEO; VP/CFO Sedgwick County, KS County Manager; Health Department Director; Director of Human Resources Johnson County, KS County Auditor; County Appraiser; Chief Legal Counsel City of Wichita, KS Director of Law; Director of Housing & Community Services City of Topeka, KS City Manager; Administrative and Financial Services Director City of Washington, IL City Administrator City of Oak Creek, WI City Administrator City of Rye, NY City Manager City of Rochester, NY Fire Chief Rochester-Genesee Regional Transportation Authority (RGRTA), NY Chief Executive Officer (CEO) Centre Area Transportation Authority (CATA), PA Director of Transportation, Director of Finance, Data Analyst Metropolitan Washington Airports Authority, DC Vice President for Public Safety Wayne County, MI Deputy Chief Director of Personnel; Chief Deputy CFO Cincinnati Metropolitan Housing Authority (CMHA), OH Director of Accounting Franklin County, OH County Administrator; Animal Care & Control Services Director; Director of Job & Family Services Scott Consolidated Emergency Communications Center (Scott County, IA) Emergency Services Dispatch Director Greater Richmond Transit Co (GRTC), VA Chief Executive Officer City of Charlottesville, VA City Manager City of Virginia Beach, VA Deputy City Manager; Assistant Human Services Director City of Newport News, VA Fire Chief Alexandria Redevelopment and Housing Authority (ARHA), VA Chief Executive Officer Virginia Commonwealth University (VCU), Richmond, VA Police Chief York County, SC County Manager Town of Lake Lure, NC Town Manager; Project Manager City of Durham, NC Director of Technology Solutions Cumberland County, NC Assistant County Manager – Community Support Services; Human Resources Director Wake County, NC County Manager Person County, NC County Manager Durham County, NC Fire Marshal/City -County Emergency Management Director 477 S. RENÉE N ARLOCH & ASSOCIATES C LIENTS/REFERENCES PAGE 9 City of Sugar Land, TX Controller; Director of Finance; Assistant Director of Finance; Director of Budget & Strategy ; Director of Budget South Padre Island, TX Convention & Visitors Bureau Director Dallas County, TX Director of Human Resources Town of Addison, TX City Manager City of Baytown, TX Police Chief; Director of Public Affairs; City Attorney; Assistant City Manager Houston Housing Authority, TX President/CEO City of Arlington, TX Deputy City Manager; Parks & Recreation Director City of San Antonio, TX Assistant Finance Director - Procurement Pinellas County Sheriff’s Officer Human Resources Director Housing Authority of the City of Austin, TX Vice President/Chief Financial Officer; President/CEO City of Dallas, TX Assistant Director of Transportation Operations; Assistant Director of Water Utilities; City Manager; City Attorney; Managing Director of Environmental Quality; Assistant Director of Street Services (Maintenance) El Paso Water Utilities -Public Service Board, TX President/CEO Housing Authority of the City of Brownsville, TX Chief Executive Officer Opportunity Home San Antonio (formerly San Antonio Housing Authority), TX Chief Operating Officer; Chief Real Estate Officer; President and CEO; Director of Human Resources; Director of Federal Housing Programs; Director of Communications & Public Affairs Town of Landis, NC Town Manager Fort Worth Housing Authority, TX President/CEO REFERENCES Clients and candidates provide the best testament to our ability to conduct quality searches. Listed below are a few clients for whom Ms. Narloch has conducted searches. The average tenure of placements is approximately five years. CLIENT: Toho Water Authority (TWA), FL REFERENCE : Mr. Todd Swingle, Executive Director (321) 626-3148; tswingle@tohowater.com P OSITIONS : Executive Director; General Counsel CLIENT: Western Reserve Transit Authority (WRTA), OH REFERENCE : Mr. Dean Soroka, Director of Human Resources (330) 744-8431 ext 108; dsoroka@wrtaonline.com P OSITION : Executive Director CLIENT: The Housing Authority of the City of Laredo, TX (LHA) REFERENCE : Ms. Christy Ramos, Human Resource Manager (956) 722-4521, ext. 1201, christy@larha.org P OSITION : Executive Director 478 S. RENÉE N ARLOCH & ASSOCIATES C OST PROPOSAL PAGE 10 COST PROPOSAL PROFESSIONAL FEE AND EXPENSES The professional fee for conducting this recruitment on behalf of the Boynton Beach Community Redevelopment Agency is $24,500, plus actual expenses. Services covered by the fee consist of all steps outlined in this proposal, including up to three (3) onsite /video meetings . Expenses are estimated not to exceed $4,550 and include items such as the cost of consultant travel, clerical support, placement of ads, newspaper searches, education verification, as well as credit, criminal, and civil checks . In addition, postage, photocopying, and telephone charges are included and will be allocated. Expenses related to the use of audio/video conferencing equipment by the BBCRA for interviews and candidates’ travel for interviews are the responsibility of the Boynton Beach Community Redevelopment Agency . CANDIDATE TRAVEL With respect to candidate travel for interviews, we typically ask candidates to make their travel arrangements and advise them the BBCRA will reimburse them directly for reasonable airfare, hotel, and auto expenses if allowed . We advise candidates on what is standard and customary in the industry, as well as the BBCRA’s expectations and parameters regarding travel. Our experience has been that candidates use discretion and stay within reasonable limits both in pricing and scheduling. PAYMENT We will invoice the Boynton Beach Community Redevelopment Agency monthly for professional fees and expenses for services incurred as of the date of the invoice. We expect payment of the invoice within 30 days of receipt by the BBCRA. Typically, this results in three monthly invoices of 30% of professional fees and expenses, with a final invoice for the remaining ten percent of professional fees due upon the selection of the finalist. GUARANTEE We guarantee that , should the selected candidate be terminated for cause within the first year of employment, we will conduct the search again at no cost (with the exception of expenses) to the BBCRA. We are confident in our ability to recruit outstanding candidates and do not expect the BBCRA to find it necessary to exercise this provision. 479 S. RENÉE N ARLOCH & ASSOCIATES C OST PROPOSAL P AGE 11 SCHEDULE We are available to begin the search for the Executive Director immediately, and our current workload is such that we can ensure the BBCRA will receive our full attention throughout the entire recruitment process. We will be prepared to make our recommendation regarding finalists within 75 to 90 days from the start of the search. A standard recruitment can typically be completed in less than 16 weeks and follows an approach and schedule similar to the one below: WEEK TASK: 1 Conduct meeting s with the BBCRA Board, staff, and others involved in the process 2 Develop recruitment brochure and advertisements 3 BBCRA reviews recruitment brochure and advertisements 4 Recruitment brochure printed and advertisements placed 5 Active recruitment of candidates begins 9 Closing date 10 Screen resumes 11-12 Recruiter interviews top candidates 12-13 Public records search 14 Review recommendations with the BBCRA Board, staff, and others involved in the process 15 Candidates interview with the BBCRA, follow-up interviews, and consultant reference/background checks 16 Candidate selected 480 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY EXECUTIVE DIRECTOR TENTATIVE TIMELINE ACTIVITY CONDUCTED BY DATE (*) S. Renée Narloch & Associates Ad Placement SRNA March 2025 Outreach/Recruitment Closes SRNA April 10, 2025 Preliminary Review of Resumes SRNA April 11, 2025 Candidates Interview with SRNA SRNA Week of April 15, 2025 Nexis Newspaper/Google Checks SRNA April 17, 2025 Recommend Final Candidates to BBCRA (Review of candidates SRNA interviewed; BBCRA selects finalists) SRNA April 22, 2025 BBCRA Interviews Finalists BBCRA/SRNA April 30, 2025 BBCRA Chooses Top Candidate(s) BBCRA April 2025 Background Check(s) (i.e. Criminal, Civil, Education, Credit Checks) SRNA April/May 2025 Negotiations with Selected Candidate BBCRA/SRNA April/May 2025 481 Boynton Beach Community Redevelopment Agency INVITES YOUR INTEREST IN THE POSITION OF executive director 482 implementing the Community Redevelopment Plan that addresses the unique needs of the designated BBCRA Area, which spans 1,650 acres within eastern Boynton Beach. The Redevelopment plan includes the overall goals for redevelopment and identifies the types of projects planned for the Area. Examples of projects include Streetscape improvements, redevelopment incentives for such things as façade improvements and structural improvements, infill and affordable housing, downtown and waterfront revitalization, business promotional incentives and programming to activate storefronts, and community policing programs. The Community Redevelopment Plan is a living document that can be updated to meet the changing needs within the BBCRA Area. The BBCRA is funded through tax increment revenues. Properties located in the BBCRA Area do not pay additional property taxes; instead, a portion of the annual City and County taxes collected in the redevelopment area are transferred to the BBCRA for redevelopment activities. The greater the increase in taxable property values of the BBCRA’s base year (1982), the larger the incremental increase in revenues transferred to the BBCRA. Other funding sources for redevelopment include City-issued taxable and nontaxable bonds. Boynton Beach is quickly becoming one of Palm Beach County’s most popular and accessible waterfront destinations. The BBCRA owns the Boynton Harbor Marina, a premiere waterfront destination and full- service recreational marina that offers a variety of activities and amenities. The marina is the eastern anchor of the downtown core and the only South Palm Beach County publicly owned marina. The CRA Board appoints the Executive Director, who supervises 10 FTEs and provides oversight and management of the agency’s budget (2025) of $25.5 million and the Community Redevelopment Plan. The agency administers a CRA Advisory Board, which is a volunteer Board comprised of seven individuals appointed by the City Commission. The Advisory Board makes recommendations on the programs, activities, and funding issues affecting the THE COMMUNITY The City of Boynton Beach is the third largest municipality in Palm Beach County with an estimated population of approximately 80,139 residents. Residents of Boynton Beach enjoy a tropical lifestyle with waterfront dining, abundant shopping, and lively entertainment throughout the week. With hundreds of restaurants, outdoor lifestyle shopping centers, and a regional mall, residents do not have to travel outside the City to dine, shop, or to be entertained. The City operates 9 recreation centers, 29 parks, a swimming pool, and a municipal beach and offers many youth, teen, adult, and senior programs. Professional, dedicated staff members, with the assistance of valuable volunteers, manage the year- round recreation programs and activities and maintain parks and open spaces for the enjoyment of people of all ages and abilities. THE AGENCY BBCRA is a special district created by the City of Boynton Beach. It is governed by the BBCRA Board, consisting of the five elected officials of the City Commission, whereas the Mayor acts as the BBCRA Board Chair. The BBCRA’s mission is to serve the community and strive to create a more vibrant, livable, and healthy city for both residents and visitors of Boynton Beach. The BBCRA and all CRAs located within the State of Florida operate under Florida Statute Chapter 163, Part III, whereby local governments are able to designate selected portions of a city as a Community Redevelopment Areas (CRA) where slum and blight exist. Examples of conditions that can support the creation of a CRA are not limited to the presence of substandard or inadequate structures, a shortage of affordable housing, and inadequate infrastructure. By improving deteriorated areas through revitalization efforts, the BBCRA improves property values within the designated CRA area, increasing property tax revenues. The BBCRA is responsible for developing and 483 • 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 meetings and presentations. • Negotiates and administers contracts, incentives, developer agreements, and projects; administers same. • Assists 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. implementation of the CRA Plan. For details regarding the agency’s projects, initiatives, and FY24-25 goals and objectives, please visit https://www.boyntonbeachcra.com. THE POSITION The Executive Director is a highly responsible position that manages the day-to-day operations and 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 Executive Director 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. Responsibilities and duties of the Executive Director include, but are not limited to: • 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. • 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. • Attends training sessions and conferences pertaining to BBCRA operations. • Prepares and manages annual BBCRA budget and compliance monitoring with F.S. Chapter 163 Part III. 484 COMPENSATION Starting salary will be competitive and negotiable based on the qualifications and experience of the individual selected. Florida does not have a state income tax. TO APPLY If interested in this outstanding opportunity, please visit our website, www.SRNsearch.com, to apply online. The first review of resumes will take place on April 10, 2025; the position is open until filled. Resumes will be screened according to the qualifications outlined above. Screening interviews with the most qualified applicants will be conducted by S. Renée Narloch & Associates to determine a select group of finalist candidates who will be asked to provide references; references will be contacted only following candidate consent. Final interviews will be held with the BBCRA. Candidates will be advised of the status of the recruitment following the selection of the Executive Director. Questions regarding this recruitment may be directed to: Ms. S. RMs. S. Renée Narloch, P enée Narloch, Presidentresident S.S. RRenée Narloch & Associatesenée Narloch & Associates info@SRNsearch.com I 850.391.0000info@SRNsearch.com I 850.391.0000 wwwwww.SRNsearch.com.SRNsearch.com The BBCRA is an Equal Opportunity/ADA Employer. In accordance with Florida’s Public Records/Sunshine Laws, applications and resumes are subject to public disclosure. • Attends monthly meetings of the BBCRA Board and the CRA Advisory Board, as well as City Commission and community meetings to keep abreast of activities and programs and 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. The ideal candidate will have exceptional leadership skills and an open and collaborative management style to provide clear direction to the agency and achieve the goals and objectives set forth by the Board. The Executive Director must build strong relationships, trust, and rapport with a wide variety of stakeholders and partners. A personable, approachable, and team- oriented individual with exceptional interpersonal and communication skills is needed. A leader who supports staff and encourages professional development, training, and ideas is essential. Requirements include a bachelor’s degree from an accredited college or university with a major in business, urban planning, finance, construction management, or a related field and/or a minimum of 5 years of 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. A master’s degree is preferred. Affiliations or membership with trade associations exemplifying additional education is a plus, such as the 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.2910 Kerry Forest Pkwy D4-242, Tallahassee, FL 32309 www.srnsearch.com | info@srnsearch.com 485 •Attachment I - 2025 Calendar with Holidays and Meeting Dates COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.B SUBJECT: Continued Discussion and Consideration of the July 2025 CRA Board Meeting Date SUMMARY: This item is being brought before the CRA Board for consideration regarding the regularly scheduled July CRA Board meeting per the Board's request at the May 13, 2025 meeting. On April 1, 2025, the City Commission approved a legislative break and canceled the June 17, 2025 and July 1, 2025 City Commission meetings. The CRA meeting on July 8, 2025 might be in conflict with the legislative break. We are seeking the Board's direction on the July meeting date (see Attachment I). CRA BOARD OPTIONS: Provide direction for the July CRA Board meeting date. ATTACHMENTS: Description 486 487 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.C SUBJECT: Discussion and Consideration of a Request for Additional Tax Increment Revenue Funding for the Ocean One Project located at 114-222 N. Federal Highway SUMMARY: The CRA 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 Attachments 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. The TIRFA with Ocean One Boynton, LLC, expired on January 16, 2021, 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 (.47 ac) 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 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 (see Attachment IV). On September 12, 2023, the CRA board approved the first amendment to the Purchase and Development Agreement (see Attachment V), 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 permit. 488 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 Attachments VI - VII). 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 VIII). 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. At the May 14, 2024 meeting, the CRA Board approved the TIRFA with the following terms (see Attachment IX): 95% of the Project TIF over the course of 12 years up to a maximum of $9,000,000.00. 90 public parking spaces located on the second floor of the parking garage restricted for use by the public in perpetuity, of which 31 spaces are above what code requires; 20 on street parking spaces, 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. On May 23, 2025, the CRA received a letter from BB1 with the following request (see Attachments X-XI): Revise the original TIF award of $9 million and increasing it to $16 million Clarify and align the dates in the TIRFA to June 6, 2026 Revise the 12 year term to be increased to 15 years to accommodate the additional funding An overview of their permit application history is provided as Attachment XII. Staff is seeking Board direction on how to proceed. FISCAL IMPACT: 489 •Attachment I - Purchase and Development Agreement •Attachment II - TIRFA Ocean One Boynton •Attachment III - Amendment 1 TIRFA Ocean One Boynton •Attachment IV - 2023 Site Plan •Attachment V - First Amendment to Purchase and Development Agreement Ocean One Hyperion •Attachment VI - January 10, 2024 TIF Request •Attachment VII - Fishkind Analysis •Attachment VIII - Evaluation of TIRFA Request •Attachment IX - June 2024 Fully Executed TIRFA •Attachment X - May 23, 2025 Request for Additional Funding •Attachment XI - June 10, 2025 Board Presentation •Attachment XII - Permit Application Overview To be determined by the CRA Board. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on Board discussion. ATTACHMENTS: Description 490 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 545 546 547 548 549 550 551 552 553 554 555 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 571 572 573 574 575 576 577 578 579 580 581 582 583 584 585 586 587 588 589 590 591 592 593 594 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 595 596 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 MAP597 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 PHOTOMETRICS598 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 ROWCL599 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 FAX600 ©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 ROOFLEGEND601 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''602 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.603 604 605 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. 606 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. 607 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. 608 January 10, 2024 4 Exhibit A 609 January 10, 2024 5 Exhibit B 610 ` 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 611 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. 612 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. 613 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. 614 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. 615 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. 616 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 617 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. 618 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. 619 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. 620 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. 621 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. 622 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 623 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 624 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. 625 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 626 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. 627 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. 628 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. 629 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. 630 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. 631 Economic and Fiscal Impacts and Financial Gap Analysis for Ocean One Page 22 of 24 Exhibit #1 Fiscal Impact Analysis Provided under separate cover. 632 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. 633 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. 634 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 635 ` 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. 636 ` 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 $11,738,783 637 ` 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. 638 ` 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. 639 ` 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$ 640 ` 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 25,091,762 641 ` 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 216,940,741 219,155,909 221,393,916 223,654,999 225,939,399 228,247,362 230,579,133 232,934,961 235,315,098 237,719,798 642 ` 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 643 ` 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 11,738,783 644 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 2,251,049 645 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 7,169,075 646 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 $55,500 647 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 $1,032,094 648 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. 649 630 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 2 650 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 2 651 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 2 652 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 2 653 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 2 654 Subject Property InteriorPrimary InteriorInterior 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 4 Exhibit 2 Exhibit 2 655 630 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 2 656 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 2 657 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 2 658 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 2 659 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 2 660 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 2 661 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 2 662 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 2 663 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 2 664 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 2 665 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 2 666 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 2 667 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 2 668 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 2 669 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 2 670 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 2 671 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 2 672 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 2 673 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 2 674 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 2 675 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 2 676 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 2 677 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 2 678 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 2 679 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 2 680 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 2 681 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 2 682 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 2 683 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 2 684 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 2 685 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 2 686 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 2 687 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 2 688 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 2 689 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 2 690 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 2 691 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 2 692 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 2 693 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 2 694 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 2 695 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 2 696 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 2 697 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 2 698 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 2 699 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 2 700 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 2 701 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 2 702 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 2 703 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 2 704 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 2 705 630 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 2 706 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 2 707 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 2 708 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 2 709 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 2 710 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 2 711 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 2 712 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 2 713 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 2 714 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 2 715 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 2 716 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 2 717 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 2 718 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 2 719 630 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 2 720 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 2 721 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 2 722 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 2 723 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 2 724 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 2 725 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 2 726 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 2 727 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 2 728 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 2 729 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 2 730 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 2 731 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 2 732 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 2 733 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 2 734 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 2 735 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 2 736 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 2 737 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 2 738 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 2 739 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 2 740 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 2 741 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 2 742 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 2 743 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 2 744 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 2 745 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 2 746 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 2 747 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 2 748 630 E Woolbright Rd - Avion Riverwalk PREPARED BY Hank Fishkind Demographics 326,000 SF Multi-Family Building Exhibit 2 Exhibit 2 749 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 2 750 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 2 751 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 2 752 Boynton/Lantana PREPARED BY Hank Fishkind Retail Submarket Report Palm Beach - FL Exhibit 3 Exhibit 3 753 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 3 754 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 3 755 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 3 756 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 3 757 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 3 758 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 3 759 Construction Boynton/Lantana Retail DELIVERIES & DEMOLITIONS 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 7 Exhibit 3 Exhibit 3 760 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 3 761 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 3 762 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 3 763 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 3 764 Sales Boynton/Lantana Retail MARKET CAP RATE 8/2/2023© 2023 CoStar Group - Licensed to Fishkind Litigation Services - 1278541 Page 12 Exhibit 3 Exhibit 3 765 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 3 766 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 3 767 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 3 768 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 3 769 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 3 770 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 3 771 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 3 772 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 3 773 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 3 774 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 3 775 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 3 776 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. 777 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. 778 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. 779 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) 780 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 781 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. 782 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 783 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 784 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. 785 6 June 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 832 833 834 835 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 855 856 857 858 859 860 861 862 863 864 865 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 886 887 888 889 890 891 892 893 894 895 896 897 898 899 900 901 902 903 904 May 23, 2025 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 Rebecca Shelton Vice Chair Woodrow Hay Board Member Thomas Turkin Board Member Angela Cruz Board Member Aimee Kelley Boynton Beach Community Redevelopment Agency (“BBCRA”) Timothy Tack, Acting Executive Director 100 E. Ocean Ave Boynton Beach, FL 33435 Re: 114/222 N Federal Highway – Renewed 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, accounting for over 35% of the total site area- this includes two separate outdoor seating areas connected to commercial spaces, with a large plaza for the Boynton Beach community to gather off East Ocean Boulevard. Of the 371 units, 200 are housing units below 750 SF, 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. 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. We are pleased to report that on August 16, 2024, BB1 submitted for its building permit and, with cooperation from capital markets, we expect to begin construction this year and to complete the Project in 2027. Due to a change in circumstances in the financial markets, US government action creating uncertainty, rising construction costs, and in order to support the Project’s financial ability to proceed and meet this timeline, we are formally requesting modification of the grant of the Tax Incentive Funding Program (“TIF”) which the CRA awarded on May 14, 2024, which is attached as Exhibit A, and we hereby request that this matter be placed on the CRA agenda for the meeting on June 10th, 2025. 905 May 23, 2025 2 Current TIF Approval On May 14, 2024, the BBCRA awarded the project $9.0 million in TIF. At the time, BB1 presented that the financial gap plus the additional costs that the Project was taking on to provide City parking and non- typical infrastructure improvements resulted in a financial need of $17.5 million. In the interest of developing the downtown and to the benefit of the City of Boynton Beach, BB1 agreed to dedicate 90 parking spaces on the second floor of the Project’s garage to the public. In the interest of expediency, and in the hope that economic conditions post-pandemic would improve, BB1 presented that it would accept a TIF award capped lower than $17.5 million- to as low as $11.5 million. BBCRA retained expert Barry Abramson to review the request and make a recommendation. Mr. Abramson calculated that based on the $167.8 million projected in Project costs at the time, BB1’s $11.5 million figure was reasonable (we note that had Mr. Abramson used today’s necessary yield of 6.75%, rather than the outdated 6.00% yield metric he used, the $11.5 million would have been significantly higher). While BB1 is appreciative of the support of the CRA, the $9 million award was $2.5m (22%) below the bare minimum $11.5 million that was needed at the time and supported by the CRA’s expert. While gratefully accepting the award and committing to do its best to make it work, BB1 expressed at that public meeting that it could go back and work on cost of construction but may well need to appear again before the CRA Board to reconsider the award. Economic Fundamentals Decline and Increasing Financial Gap Unfortunately, since May 2024 the economy and development fundamentals have not improved and have steadily gotten worse. Construction costs have remained elevated as inflation persists, affecting costs across all industries. The tariff uncertainty is causing projects to stop in their tracks. Interest rates continue to remain high. Compounding issues restricting development, rents in South Florida are stagnating and expenses are rising. Property insurance levels are now significantly higher. The projected Project cost has increased by approximately $7 million to $175 million, and the projected revenues are lower. Based on Mr. Abramson’s methodology, even holding revenues constant, and accepting the outdated 6.00% yield metric he used, the financial gap is now over $20 million. This is illustrated in Exhibit B. BB1 would welcome an upward modification of the original $9.0 million cap to $20.0 million. However, in the interest of an expedient resolution so the project can secure construction financing and be ready to begin construction, BB1 would accept the TIF award capped at $16.0 million and with this award BB1 believes it can begin construction this year.1 1 The BB1 development team has worked closely with the City and CRA staff during site plan approval and after building permit submittal, responding to significant non -code required infrastructure and aesthetic demands set forth by the City. BB1 plans to engage with City staff to address these added costs. Some reduction in these costs is necessary for a viable development budget. Should BB1 achieve some reduction in these costs, it would not impact this TIF request in that BB1 is accepting a $16 million cap on a gap that is over $20 million. 906 May 23, 2025 3 Timing Given the timing needed to address this TIF request and solidify financing, BB1 would request clarification in the current TIF agreement timing requirements to commence construction. Under Section 3.1 of the TIRFA, BB1 has until June 6, 2026, to commence construction. There appears to be a contradiction in Section 9 which requires commencement by September 2025 (subject to force majeure and extension not to be unreasonably withheld). In light of market conditions, government actions creating uncertainty on tariffs, and the timing needed to address the current TIF request, we would request that the dates are brought into alignment so that Section 9 date is revised to June 6, 2026. Regardless of TIF agreement dates it is BB1’s belief that if this TIF request can be expeditiously finalized it is feasible that construction can commence in 2025. We would also request that the twelve (12) year term of the TIF be increased to fifteen (15) years to accommodate the additional funding. Summary BB1 looks forward to delivering this transformative project to Boynton Beach and providing the needed public parking. BB1 is requesting: 1. The Project be provided with a TIF of $16.0 million, revising the original award of $9.0 million. 2. Timeline clarification to clarify and align the dates in the TIF Agreement to June 6, 2026. 3. Revise the twelve (12) year term of the TIF to be increased to fifteen (15) years to accommodate the additional funding. With the support of CRA and City staff, we are fully committed to delivering a world class residence that will be a home and destination for the Boynton Beach community to enjoy and be proud. 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. 907 May 23, 2025 4 Exhibit A Fully Executed TIRFA Agreement attached as separate document. 908 May 23, 2025 5 Exhibit B Original Budget w/o Subsidy Original Budget w/ Subsidy New Budget w/ New Subsidy NOI $9,450,700 $9,450,700 $9,450,700 Development Cost 167,871,394 167,871,394 175,000,000 Less TIF Subsidy - Present Value - (9,300,000) (1) (16,173,913) (2) Development Cost after Subsidy 167,871,394 158,571,394 158,826,087 Yield on Cost 5.63%5.96%5.95% (1) Mr. Abramson used $9,300,000 to reflect present value of the requested $11,500,000. (2) Using Mr. Abramson's same methodology, $16,173,913 would be used to reflect the present value of what would be a $20,000,000 gap. 909 Ocean One | Downtown Activation BB1 Development is making an extraordinary commitment to Boynton Beach, activating the downtown with approximately 25,000 SF of commercial retail space. With 21,000 SF of green space and 36,000 SF of sidewalks and paved areas, Ocean One will help transform downtown into a walkable, civic attraction. Approximately $14.0 million of the current $175.0 million budget is allocated to developing the transformative commercial experience, including millions of dollars budgeted for the retail tenants to build out their spaces. 910 Ocean One | Site Plan 911 Original Budget w/o Subsidy Original Budget w/ Subsidy New Budget w/ New Subsidy NOI $9,450,700 $9,450,700 $9,450,700 Development Cost 167,871,394 167,871,394 175,000,000 Less TIF Subsidy - Present Value - (9,300,000) (1) (16,173,913) (2) Development Cost after Subsidy 167,871,394 158,571,394 158,826,087 Yield on Cost 5.63%5.96%5.95% (1) Mr. Abramson used $9,300,000 to reflect present value of the requested $11,500,000. (2) Using Mr. Abramson's same methodology, $16,173,913 would be used to reflect the present value of what would be a $20,000,000 gap. Ocean One | Yield on Cost 912 CMUL-2024.08.63878 (Commercial Multi-Family) • Permit application date: August 16, 2024 • Review Cycle #1 completed on: October 3, 2024 • Resubmitted on: November 29, 2024 • Review Cycle #2 disapproved on: December 18, 2024 • Permit Fees: $2,076,890.75 • Permit Fees Paid: $418,250 CSIT-2024.07.60431 (Commercial Site Improvement) • Permit application date: July 22, 2024 • Review Cycle #1 completed on: August 22, 2024 • Resubmitted on: October 31, 2024 • Review Cycle #2 disapproved on: November 22, 2024 • Permit Fees: $43,446.82 • Fees paid: $3,906.44 SPTE-2024.11.71654 (Site Plan Time Extension) • Application date: November 4, 2024 • Review Cycle #1 completed: November 8, 2024 • Resubmitted on: December 12, 2024 • Minor Development Application Approved: December 19, 2024 • Permit Fees: $750 • Fees paid: $750 CTFE-2024.06.54818 (Temporary Construction Fence) • Application Date: June 19, 2024 • Permit Issued on: May 15, 2025 • Permit Fees: $298.50 • Fees Paid: $298.50 913 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.D SUBJECT: Continued Discussion and Consideration of the Purchase of the Inn at Boynton located at 480 W. Boynton Beach Boulevard SUMMARY: On May 13, 2025, the CRA Board reviewed the below sales terms of the Inn at Boynton, located at 480 W. Boynton Beach Boulevard, and requested CRA Staff to negotiate the terms with the Seller (see Attachment I): Purchase Price: $9,100,000.00 Deposit of $250,000.00 Due diligence 15 days from effective date of Purchase and Sale Agreement Closing Date 45 days from effective date of Purchase and Sale Agreement (30 days from due diligence period) Property to be delivered unoccupied CRA Staff met with the Seller on May 19, 2025, and has provided a draft Purchase and Sale Agreement containing the following terms as Seller's best offer (see Attachments II & III): Purchase Price: $8,500,000.00 (appraised value - see Attachment IV) Deposit of $250,000.00 Due diligence/feasibility period 60 days from effective date of Purchase and Sale Agreement Closing Date 90 days from effective date of Purchase and Sale Agreement Property to be delivered unoccupied The parcel is 2.11 acres (91,911.60 sq. ft.) making it one of the largest parcels of property available for redevelopment west of Seacrest Boulevard. The property is currently zoned C3- Community Commercial with a future land use of Mixed-Use Low allowing 20 units per acre with a maximum height of 45'. This property could be considered for a variety of redevelopment purposes. The Inn at Boynton is located on the southeast corner of I-95 and Boynton Beach Boulevard. The location is an important component in the future redevelopment of the Boynton Beach Boulevard District (see Attachment V). This area serves as the main entry into the City's downtown and establishes the first impression of the City. 914 •Attachment I - 05-13-2025 CRA Board Meeting Minutes •Attachment II - 06-02-2025 Seller's Offer and Extended Feasibility Period •Attachment III - Draft Purchase and Sale Agreement 480 W BBB •Attachment IV - Anderson Carr Appraisal 480 W BBB •Attachment V - Boynton Beach Blvd. District •Attachment VI - 480 W BBB Comparables A comparison of similar purchases by the CRA has been provided (see Attachment VI). FISCAL IMPACT: To be determined by the Board. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan – Boynton Beach Boulevard District CRA BOARD OPTIONS: 1. Approve the purchase of the Inn at Boynton, located at 480 W. Boynton Beach Boulevard, pursuant to the terms provided in the draft Purchase and Sale Agreement and allow the Board Chair to execute the Agreement upon final legal review. 2. Do not approve the purchase of the Inn at Boynton located at 480 W. Boynton Beach Boulevard. 3. Provide alternative direction based on CRA Board discussion. ATTACHMENTS: Description 915 916 917 From: Ajit Asrani <ajitasrani@yahoo.com> Sent: Monday, June 2, 2025 11:50 AM To: Utterback, Theresa Subject: Re: RE 480 W BOYNTON BEACH BLVD This Message Is From an External Sender This message came from outside your organization. Dear Theresa, Further to our conversation this morning, I have no objections to complying with the requirements of the legal department of a 90 day closing. It is very normal to for a prospective purchaser to take some time for conducting diligence such as environmental and other inspections according to the use anticipated by the purchaser. Please do send me the agenda for the meeting when you have it. Many thanks, Ajit Asrani 305 898 1413 On Monday, June 2, 2025 at 10:57:47 AM EDT, Utterback, Theresa <utterbackt@bbfl.us> wrote: Good Morning Mr. Asrani, I am preparing the agenda item for the June 10th meeting under the terms you have requested. • $8.5M • 60 day closing • $250,000 deposit However, I wanted you to be aware that after discussion with our legal department CRA staff would request a minimum of a 90 day closing. This I based on the feasibility period and that I may have to bid some of the environmental/ studies/reports/inspections due to our procurement policy. As soon as the item is published I will let you know so that you may view it. 918 Thank you and please do not hesitate to call us with questions. Sincerely, Theresa Theresa Utterback Development Services Manager Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave. | Boynton Beach , Florida 33435 561-600-9094 | 561-737-3258 UtterbackT@bbfl.us | https://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 law, email addresses are public records. Therefore, your email communication and your email address may be subject to public disclosure From: Ajit Asrani <ajitasrani@yahoo.com> Sent: Tuesday, May 20, 2025 10:58 AM To: Utterback, Theresa <UtterbackT@bbfl.us>; Tack, Timothy <TackT@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us> Cc: Suraj Dalal <suraj.dalal@kabanihotelgroup.com> Subject: RE 480 W BOYNTON BEACH BLVD 919 Dear CRA staff, Thank you for clearing the air of the May 13th board meeting and meeting with my wife and I yesterday to come to a resolution going forward. After a frank and open discussion you asked that we give you our final offer for the ZjQcmQRYFpfptBannerStart This Message Is From an External Sender This message came from outside your organization. ZjQcmQRYFpfptBannerEnd Dear CRA staff, Thank you for clearing the air of the May 13th board meeting and meeting with my wife and I yesterday to come to a resolution going forward . After a frank and open discussion you asked that we give you our final offer for the sale of the Inn. As mentioned at our meetings we are motivated to sell th e property, and are pleased to offer it to you at 8.5m. This is as per your appraisal done in the latter p art of April. However, our only condition is that this should occur in the next 60 days for reasons explained to you. For your information and as discussed previously the c urrent appraisal of 8.5m has been done as it exists and listed at 9.5m accordingly. It is a conserva tive appraisal. It is also well known that the highest and best use of t he property is multi family, affordable housing, as such. While it will take some time for us to get an admin istrative rezoning approval from the city, the appraised value would be considerably higher than 8.5m. We are aware the city has granted such approvals under the Live Local Act. We look forward to hearing from you. Sincerely, Maria & Ajit Asrani 305 898 1413 920 921 DRAFTPURCHASER’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 IRACHE PARTNERS, LLC, a Florida limited liability company, (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: 08-43-45-28-15-071-0010 Address: 480 W. Boynton Beach Boulevard, Boynton Beach, FL 33435 A portion of Lot 5,SUBDIVISION OF SECTION 28,TOWNSHIP 45 SOUTH, RANGE 43 EAST,Plat Book 1, Page 4, and a portion of Blocks 71 and 73 and the Right-of-Way of N.W. 4th Street, as shown on the Plat of BEVERLY HILLS ADDITION NO.3, Plat Book 13, Page 64, City of Boynton Beach, Palm Beach County,Florida. 2.PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Eight Million Five Hundred Thousand Dollars ($8,500,000.00), payable in cash, by wire transfer of United States Dollars at the Closing. 3.DEPOSIT. 3.1 Earnest Money Deposit. Within ten (10) 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 Two Hundred and Fifty Thousand Dollars ($250,000.00) 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 922 DRAFTPurchase and Sale Agreement Page 2 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 PURCHASER. If this Agreement is terminated due to a default, pursuant to Section 12, the 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 within ninety (90) days of the Effective Date of the Agreement (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. If the 923 DRAFTPurchase and Sale Agreement Page 3 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 Phase I determines a Phase II is required, an automatic extension of the closing date will be determined between the Parties. 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 terminate this Agreement in accordance with this Section, PURCHASER shall: (i) leave the Property in substantially the condition existing on the 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. SELLER hereby agrees to indemnify and hold PURCHASER 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 SELLER or for damage to persons or property (subject to the limitation on practicability provided above) arising out of PURCHASER’s investigation of the Property. SELLERS’ obligations under this Section shall survive the termination, expiration or Closing of this Agreement. 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 faith 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 924 DRAFTPurchase and Sale Agreement Page 4 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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 and 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. 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 925 DRAFTPurchase and Sale Agreement Page 5 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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 Approvals (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. 926 DRAFTPurchase and Sale Agreement Page 6 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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 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 other 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 increased 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 927 DRAFTPurchase and Sale Agreement Page 7 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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 and half of all general closing expenses (settlement fee, courier fees, overnight 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. 928 DRAFTPurchase and Sale Agreement Page 8 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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 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 929 DRAFTPurchase and Sale Agreement Page 9 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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)"). 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 and 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 930 DRAFTPurchase and Sale Agreement Page 10 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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. 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 detail 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, the 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. 931 DRAFTPurchase and Sale Agreement Page 11 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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: If to Seller: Ajit Asrani, Title Manager Irache Partners, LLC 4200 Granada Boulevard Coral Gables, FL 33146 With a copy to: The Law Office of Paul A. Krasker, P.A. 1615 Forum Place 5th Floor West Palm Beach, FL 33401 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 and PURCHASER hereby state that the Seller has 932 DRAFTPurchase and Sale Agreement Page 12 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 dealt with a real estate broker in connection with the transaction contemplated by this Agreement and Seller is responsible for a sales commission to Suraj Dalal, Kabani Hotel Group. 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. 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 933 DRAFTPurchase and Sale Agreement Page 13 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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. 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. 934 DRAFTPurchase and Sale Agreement Page 14 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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. 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. 935 DRAFTPurchase and Sale Agreement Page 15 of 15 PURCHASER’s Initials: ______ SELLER’s Initials: ______ 00704498-1 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. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date. PURCHASER: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY SELLER: ___________________________________ _____________________________________ Printed Name: Rebecca Shelton Printed Name: Ajit Asrani Title: Chair Title: Title Manager Date: ______________________________ Date: ________________________________ WITNESS: ___________________________________ Printed Name: _______________________ WITNESS: _____________________________________ Printed Name: _________________________ ESCROW AGENT ___________________________________ Lewis, Longman & Walker, P.A. Printed Name: _______________________ Date: ______________________________ 936 937 938 939 940 941 942 943 944 945 946 947 948 949 950 951 952 953 954 955 956 957 958 959 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 992 993 994 995 996 997 998 999 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 55 Boynton Beach Boulevard District Introduction Planning Challenges Planning Considerations The Vision Recommendations 1026 56D.District PlansIntroduction Currently there is no adopted plan for the Boynton Beach Boulevard corridor. There were public workshops held in 2005 to discuss the vision for the corridor, and many of the recommendations from those workshops are incorporated into this plan. There has been little redevelopment progress along the corridor at the scale envisioned by this Plan due to lack of developable parcels, no clear development vision and little to no public investment. The CRA invested in a public parking lot in 2015 to serve the future downtown growth. The Agency is currently in the planning phase for improvements to Boynton Beach Boulevard. The Boynton Beach Boulevard District consists of the Boynton Beach Boulevard corridor between I-95 and the FEC Railway. The District extends north to N.E. 3rd Avenue and south to W. Ocean Avenue (west of Seacreast Boulevard) and N.E. 1st Avenue (East of Seacrest Boulevard). This area is the main entry into the downtown from the I-95 exit and will therefore establish the first impression that visitors and many residents have of the City. The district also provides easy access to the City’s public beach, the Boynton Harbor Marina, City Hall, the Children’s Schoolhouse Museum and the Library. The areas directly north and south of the District are predominately large single-family neighborhoods. There is no buffer between the commercial uses fronting the corridor and residential uses which has held back property values in these neighborhoods. N Seacrest Blvd.FEC RailroadBoynton Beach Blvd. NE 1st Ave NE 3rd Ave W. Ocean Ave Planning Challenges As the City’s population grew, Boynton Beach Boulevard was widened to five lanes thereby accommodating higher traffic speeds and higher traffic volume, while lowering the aesthetic quality of the corridor. Additionally, commercial zoning only extends one-half block deep from Boynton Beach Boulevard which represents insufficient land necessary to support the land assembly and redevelopment for viable commercial uses. As a consequence, business activity along the corridor has primarily consisted of minimal conversion of single-family houses to commercial uses rather than redevelopment at the scale envisioned for this Plan. Nearly all of the parking for the businesses along the Boulevard is Figure 10: Boynton Beach District Location Map 1027 57 in front of the buildings meaning that in many cases, cars have to back out into traffic. There are numerous curb cuts for each commercial use along the corridor leaving little room for landscape improvements and the pedestrian zone. Due to the widening of the Boynton Beach Boulevard over the years, vehicular use has been emphasized over pedestrian or bike use. Under the current configuration of the roadway, there is insufficient right-of-way for landscaping, wider sidewalks, bike lanes, bus shelters and street furniture. Recently large utility poles were installed on the south side of the Boulevard adding to the visual blight of the corridor. There are only three signalized intersections that have formal pedestrian crossing zones. Pedestrians must walk several blocks in order to cross the Boulevard. There are no destinations along the corridor to attract the interest of visitors or residents other than City Hall and the Post Office. The majority of the businesses belong to the small service industry with few employees. The buildings are outdated, being constructed from the 1930’s to the 1970’s. The majority of the buildings are for single-tenant or single-use with no cross-access for pedestrian or vehicular circulation purposes or for sharing of parking resources. Additionally, there are no large parcels ready for redevelopment thereby requiring land assemblage and willing sellers. City Hall is located along Boynton Beach Boulevard but is envisioned to be relocated into the Cultural District as part of the Town Square project. City Hall and the other civic uses occupy 3.71 acres and offer an opportunity for a public-private partnership to facilitate a catalyst for redevelopment within the District. Figure 11: Examples of Districts Planning Challenges 1028 58D.District Plans1029 59 Figure 12: Historic Property on First Avenue Planning Considerations Several factors were considered in determining the land use designations for the Boynton Beach Boulevard District. Just east along the District is the location of the future site of the Tri-Rail Coastal Link commuter service on the FEC Rail line, which will serve the South Florida metropolitan region. 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 planned station. The DTOD district regulations support increased intensity of development through a 25% density bonus. The Boynton Beach Boulevard District and DTOD district overlap; only the area from I-95 to (approximately) N.W. 2nd Street is not included within the DTOD District. A second consideration is that the Boynton Beach Boulevard District is entirely enclosed within 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 thus allowing denser development. The Plan recommends that the higher density and height occur within this District where both the TCEA and the TOD overlap. NW 1st Avenue Historic District: The potential NW 1st Avenue historic district contains thirteen properties, seven of which would be considered “contributing properties”. The designation process was applied but failed to produce a positive result (although the outcome of the vote was very close). It is recommended that the designation of a historic district be again explored in the future if there isn’t any assemblage of the properties on the north side of NW 1st Avenue for commercial development. In the meantime, the owners of the “contributing” sites will be contacted to determine their interest in applying for individual designation of their properties. 1030 60D.District PlansVision The Boynton Beach Boulevard District is envisioned to serve as a welcoming and beautiful entry into the Downtown District. Pedestrians will be encouraged to walk along the broad sidewalks in the shade of mature trees to visit the various stores and restaurants along the corridor. Bicyclists will safely travel along the corridor and will be able to park their bikes at one of the local shops where they’ll meet a friend for a cup of coffee. Visitors will be able to find their way to the marina, the Children’s Schoolhouse Museum and the Public Library using the various way finding signs along the corridor. Investors will see the value of developing in downtown Boynton Beach based on the public improvements and will begin to assemble land for development of mixed-use projects. Recommendations: Streetscape Streetscape enhancements are recommended for the Boynton Beach Boulevard District. The space for these enhancements may be obtained through either right-of-way dedications or public easements and should include: • Implement a Complete Streets program for Boynton Beach Boulevard including the addition of: • On-street parking • Bike lanes • Enhanced median with mature tree canopy (at time of planting) and landscape lighting • Marking of major intersections with materials such as pavers, paint, etc. • Narrowing of travel lanes to create space for landscaping and wider sidewalks and to make the street safer for bicyclists and pedestrians. • Create a Pedestrian Zone adjacent to the right- of-ways that is inviting, safe and includes: • Addition of canopy street trees • Minimum 8’ wide clear sidewalk Figure 13: Boynton Beach Blvd. District Streetscape Recommendations Area • Minimum 8’ wide active use area abutting the building • Decorative light poles at both the vehicular and pedestrian scales • Enhanced street furniture, bus shelters, bike racks and receptacles • Active uses along the first floor of development • Create a greenway along the north side of NW 1st Avenue per the Connectivity Plan • Create way finding signage to mark the entry into the City and brand the district • Install public art in key locations • Provide additional pedestrian crossings where needed • Underground overhead utilities 1031 61 Entrance enhancements •Signage / Gateway Intersection enhancements •Directional signage •Pavement / material •Landscaping •Public art location •Safe pedestrian crossing Intersection enhancements •Entry to Downtown •Directional signage •Pavement / material •Landscaping •Public art location •Safe pedestrian crossing 50Figure 14: Intersection enhancements on Boynton Beach Blvd. Figure 15: Example of streetscape enhancements on Boynton Beach Blvd. 1032 62D.District PlansFigure 16: Boynton Beach Blvd. Plan from I-95 to Seacrest Blvd. Figure 17: Boynton Beach Blvd. Section from I-95 to Seacrest Blvd. Boynton Beach Boulevard Design: West of Seacrest Boulevard 1033 63 Figure 18: Boynton Beach Blvd. Plan from Seacrest Blvd. to Federal Hwy. Figure 19: Boynton Beach Blvd. Section from Seacrest Blvd. to Federal Hwy. Boynton Beach Boulevard Design: East of Seacrest Boulevard 1034 64D.District PlansRecommendations: Land Use The predominant existing future land use designation along the Boynton Beach Boulevard corridor is Local Retail Commercial. Other future land use designations are Public and Private and Governmental/ Institutional (where City Hall is located) and Office Commercial. The Local Retail Commercial designation only extends one-half block to the north and south of Boynton Beach Boulevard. The lack of depth has prevented successful projects from being developed along the corridor. In order to encourage a vibrant corridor with the desired private development and public spaces, it is recommended that the following future land use changes be made: • From I-95 east to N.W. 1st Street, change Local Retail Commercial and Low Density Residential to Mixed-Use Low. The Mixed-Use Low land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. • From N.W. 1st Street east to N.E. 3rd Street, change Local Retail Commercial, Public and Private Governmental/Institutional, Medium Density Residential, General Commercial to Mixed-Use Medium Future Land Use. The Mixed-Use Medium land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. • From N. E. 3rd Street east to the FEC Railroad, change General Commercial, Industrial, Local Retail Commercial to Mixed-Use High future land use designation. The Mixed-Use High future land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. Below is a table showing the proposed land use and zoning designations that will apply along the Boynton Beach Boulevard corridor: Table 3: Recommended Future Land Use (FLU) Classifications within the Boynton Beach Blvd District *Properties located within the TOD may recieve a 25% density bonus * 1035 65 MU Low MU Med MU High MU Low •20 du/ac •Max height 45’ MU-Med •40 du/ac •Max height: 75’ •TOD Bonuses MU-High •80 du/ac •Max height 150’ •TOD Density Bonus LDR 55 Boynton Beach Blvd.Seacrest Blvd.Figure 20: Recommended Future Land Use for the Boynton Beach Blvd. District Boynton Beach Blvd.Seacrest Blvd.Figure 21: Boynton Beach Blvd. Example Projects 1036 66D.District Plans1037 67 Recommendations: Urban Design Create an overlay district for Boynton Beach Boulevard to control height at street frontage, building setback, design, uses, and overal character. • The building shall be setback to accommodate the pedestrian zone. • Active commercial uses shall be required on the street frontage of Boynton Beach Boulevard. Automobile oriented uses, such as, gas stations and car washes, are prohibited. Drive-thrus are only permitted when not visible from right-of-ways and completely behind a structure. • Buildings fronting Boynton Beach Boulevard shall have maximized glazing on first floors. • Approximately 75% of the lot frontage must be occupied by structure and adjacent to the pedestrian zone. • Buildings fronting Boynton Beach Boulevard shall have a minimum height of 30’ • Buildings fronting Boynton Beach Boulevard shall be a maximum of 45’ in height, any additional height permitted by the zoning districts must be stepped back proportionately to the overall height, a minimum of 10’ deep. • Parking shall be located to the rear or side of the property. MU-L Land Uses are permitted to have one (single loaded) row of parking in front of the structure. • Only when access is not possible from the rear or side shall curb cuts be permitted on Boynton Beach Blvd. • All buildings along Boynton Beach Blvd shall have pedestrian access from the right-of-way/ sidewalks. • The main pedestrian entry, or front door, must be fronting Boynton Beach Blvd. • Mixed use projects adjacent to single-family areas shall include greenways for proper buffering Staff will review architectural styles and make recommendations regarding Architectural Guidelines that may enhance the character of the District. This process will include public input. Figure 22: Example Greenway Recommended on First Avenue 1038 68D.District PlansFigure 25: Boynton Beach Blvd. District Master Plan Figure 23: Example of Mixed Use Low Project on Boynton Beach Blvd. A A Boynton Beach Blvd. 1039 69 Figure 24: Example of Mixed Use Medium Project on Boynton Beach Blvd. B B Seacrest Blvd.1040 70D.District Plans1041 Street #Property Address Structure or Lot?Legal Appraised Value Asking Price Lot Size Acres Square Feet Price per Sq. Ft. % Over/Below Appraised Value Assemblage Total Square Feet Assemblage Total Price per Sq. Ft. 480 W. Boynton Beach Boulveard 480 W. Boynton Beach Blvd.Inn at Boynton Beverly Hill Add No 3 Blks 71 & 73 $8,500,000.00 $8,500,000.00 2.11 91911.6 $92.48 0%N/A N/A 444 W. Boynton Beach Boulveard 444 W. Boynton Beach Blvd.13 parcels vacant & structures Boynton Heights Add $7,700,000.00 $7,500,000.00 3.3 143748 $52.17 -3%N/A N/A 444 W. Boynton Beach Blvd.13 parcels vacant & structures Boynton Heights Add $7,700,000.00 $7,100,000.00 3.3 143748 $49.39 -8%N/A N/A Street #Property Address Structure or Lot?Legal Appraised Value Purchase Price Lot Size Acres Square Feet Price per Sq. Ft. % Over/Below Appraised Value Assemblage Total Square Feet Assemblage Total Price per Sq. Ft. Demolition Costs Date Acquired THE PIERCE ASSEMBLAGE Parking Lot part of Church Purchase-115 N. Fed. Hwy.0.3578 Structure demo'd w/ SWA grant and temporary parking placed on lot 0.9376 511 Commercial Retail Blvd. - 7720 sq ft Lot 10 & W 7'8" of Lot 11, Blk 6, Town of Boynton 0.1545 515 Commercial Retail Blvd. - 4101 sq ft Lot 11 less W 7'8" Blk 6 Town of Boynton 0.1134 529 Commercial Retail Blvd. - 5644 sq ft Lot 12, Blk 6 Town of Boynton 0.1431 508 E. Boynton Beach Blvd. Bradley Miller Commercial Retail Bldg. - 1925 sq ft Lots 6 & 7, Block 1, Original Town of Boynton $780,000.00 $915,000.00 0.2863 12471.228 $73.37 15%October-21 NE 1st Stree & Avenue 4th Street Parking Lot Lots 8 & 9 0 $10.00 0.1578 6873.768 $0.00 July-01 USPS PURCHASE 209 N. Seacrest Blvd. Commercial Rental Property (City Water Dept. & E2L offices for Town square project) Lots 23, 24, 25, 26 and 27 and S 7' of Lot 22, Block 4, Boynton Heights $1,400,000.00 $1,400,000.00 0.2885 12567.06 $111.40 0%October-20 217 N. Seacrest Blvd.USPS Facility Lots 9, 10, 11 & 12, Block 4, Boynton Heights Addition to Town of Boynton Beach $1,600,000.00 $1,600,000.00 0.9065 39487.14 $40.52 0%February-23 401 Commercial Retail Bldg. - 2062 sq ft Lot 6, Less S 17.6 Ft SR 804/Arden Park Addition 0.1091 407 Vacant Lot W 46.85 ft of Lot 5/Less S17.6 ft SR 804/Arden Park Addition 0.1284 411 Vacant Lot -Commercial Retail Bldg. - 3334 sq ft - Structure demo'd Lt 4 & E 3.15 ft of Lot 5/Less S 17.6 Ft SR 804/Arden Park 0.1457 219 W. Boynton Beach Blvd.Vacant Lot Lot 112 and E 25' of Lot 113, Block A, Boynton Hills 0.1725 7514.1 225 W. Boynton Beach Blvd.Vacant Lot W 25' of Lot 113 and all of Lots 114, 115, Block A, Boynton Hills 0.3183 13865.148 212 NW 3rd Court Vacant Lot Lots 118 & 119, Block A, Boynton Hills 0.2924 12736.944 222 NW 3rd Court Vacant Lot Lots 116 & 117, Block A, Boynton Hills 0.2732 11900.592 433 W. Boynton Beach Blvd.Vacant Lot Lots 83-86 Ridgewood Hills $950,000.00 $1,200,000.00 0.5672 24707.232 $48.57 21%N/A N/A N/A June-23 1111 S. FEDERAL HIGHWAY DEVELOPMENT, LLC 1111 S Federal Highway Lot Lots 12, 13 Parker Estates $891,000.00 $870,000.00 0.3549 15459.444 $56.28 -2%N/A N/A N/A April-24 YELLOWBEARD, INC. 1022 N. Federal Highway Structure will be demo'd prior to sale-Vacant Lot Lots 20, 21, 22, Blk 3, Lake Addition $910,000.00 $1,000,000.00 0.3805 16574.58 $60.33 9%N/A N/A $20,500 May-24 Total Purchase Price Total Lot Size Acres Total Square Feet Price per Sq. Ft. $16,687,010.00 6.0877 265180.212 $62.93 TBD TBD TBD SUBJECT PROPERTY FOR BOYNTON BEACH CRA PURCHASE 6% 15% MATT GRACEY PROPERTIES - W. BOYNTON BEACH BLVD. ASSEMBLAGE $2,185,000.00 $47.48 46016.784 $47.48 N/A Demolition Costs BOYNTON EAST, LLC AVERAGE COST PER SQ. FT. OF PURCHASES ABOVE BOYNTON BEACH CRA COMMERCIAL PROPERTY PURCHASES Last 5 yrs. Price Per Sq. Ft. E. Ocean Avenue Oyer December-21$3,600,000.00 17903.16 $201.08 115 $53.17N Federal Highway Church Lots 1, 2, 3, 4, 5, 6 and 7 Block 6, Original Town of Boynton May-18$3,000,000.00 56427.624 $35,828.75 $45,804.00 52054.2 $57.63 E. BOYNTON BEACH BLVD. ASSEMBLAGE (ABC RENTAL PROPERTIES) 16692.192 93675.78 $54.94E. Boynton Beach Blvd. ABC Rentals $917,000.00 16692.192 $54.94 $76.61 $85,720.00 February-21 March-23 0% 13% $2,539,000.00 $3,400,000.00 $917,000.00 $1,900,000.00 1042 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.E SUBJECT: Discussion and Consideration of the First Amendment to the Purchase and Development Agreement with Maple Tree Investments, LLC for the USPS Project on the CRA-Owned Property Located at 401-411 E. Boynton Beach Boulevard SUMMARY: On September 10, 2024, the CRA Board approved the Purchase and Development Agreement with Maple Tree Investments, LLC (MTI) for the properties located at 401-411 E. Boynton Beach Boulevard as a new retail operation for the United States Postal Service (USPS) (see Attachments I & II). The Purchase and Development Agreement (PDA) was executed by both parties on November 25, 2024, after approval by the City to dispose of the property for less than appraised value per City Resolution 24-237 (see Attachment III). The executed PDA states that the closing of the property shall take place no later than 90 days after MTI obtains a building permit for the project, which would require an approved site plan, final design and executed USPS lease. On May 5, 2025, MTI requested to close on the property prior to getting a signed lease, because USPS has been delayed due to the sorting facility relocation (see Attachment IV). MTI would prefer not to fund full design without the ability to purchase the property and agreed to reversion of the property upon USPS's failure to provide a signed lease. MTI has requested an accelerated closing date on or before August 1, 2025, with written notice to the CRA by July 15, 2025. If MTI does not provide written notice to the CRA by July 15, 2025, paragraph 2 and subparagraphs of the First Amendment shall be ineffective and the Agreement will remain unchanged (see Attachment V). If MTI provides written notice by July 15, 2025, the First Amendment will become effective and have the following terms: Paragraph 20.d. will be replaced with the commencement of construction and groundbreaking no later than 30 days after receipt of building permit Reverter Clause to be added to the agreement as Paragraph 23 Paragraph 24 will be added to the agreement making MTI responsible for all of the CRA's legal fees related to the First Amendment regardless if the First Amendment is exercised or not. FISCAL IMPACT: 1043 •Attachment I - 09-10-2024 CRA Meeting Minutes RE Approval of P&D Agreement. •Attachment II - Purchase & Development Agreement-401 E BB Blvd •Attachment III - City R24-237 approval of disposal of property •Attachment IV - MTI request for early closing - 401-411 E BB Blvd. USPS Retail Store •Attachment V - First Amendment to Purchase and Development Agreement LLW Final MTI Executed No Fiscal Impact CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the First Amendment to the Purchase and Development Agreement with Maple Tree Investments, LLC for the new USPS retail operation located at 401-411 E. Boynton Beach Boulevard and allow the Board Chair to execute the agreement. 2. Do not approve the First Amendment to the Purchase and Development Agreement with Maple Tree Investments, LLC for the new USPS retail operation located at 401-411 E. Boynton Beach Boulevard. 3. Provide alternative direction to staff upon further Board discussion. ATTACHMENTS: Description 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 This Message Is From an External Sender This message came from outside your organization. From:Todd Conley To:Utterback, Theresa Cc:Curfman, Vicki; Tack, Timothy; Kathryn Rossmell Subject:Re: Early Closing - 401-411 E BB Blvd. USPS Retail Store Date:Monday, May 5, 2025 10:44:03 AM Attachments:image093932.png image879166.png image460871.png image844364.png image225729.png image923764.png image337781.png Ms. Utterback, As a result of USPS design delays I am requesting the option to purchase 104 E Boynton Beach Blvd. before getting a signed lease. USPS is delayed in their part of the design due to the size of the sorting facility project also in Boynton beach that will be funded at the same time. I have contractual obligations to meet with CRA that will require full design. I would prefer not to fund full design without the ability to purchase the property. I would agree to sell the property back to the CRA if USPS does not fulfill their obligation in providing a lease to sign. Thanks, T Get Outlook for iOS From: Utterback, Theresa <UtterbackT@bbfl.us> Sent: Monday, May 5, 2025 9:17:04 AM To: Mapletreeinvestments@yahoo.com <mapletreeinvestments@yahoo.com> Cc: Curfman, Vicki <CurfmanV@bbfl.us>; Tack, Timothy <TackT@bbfl.us>; Kathryn Rossmell <krossmell@llw-law.com> Subject: Early Closing - 401-411 E BB Blvd. USPS Retail Store Good Morning Mr. Conley, Pursuant to our telephone conversation last week, can you please send us a detailed email of your request to close early without a lease between you and USPS. There is a possibility that there may not be a June or July CRA Board meeting. Once we receive your email, the next step is to discuss your request with our attorney. Thank you, Theresa 1065 Theresa Utterback Development Services Manager Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 561-600-9094 |561-737-3258 UtterbackT@bbfl.us | https://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 law, email addresses are public records. Therefore, your email communication and your email address may be subject to public disclosure 1066 #488116v2 4938-8008-2762, v. 1 FIRST AMENDMENT TO PURCHASE AND DEVELOPMENT AGREEMENT THIS FIRST AMENDMENT TO PURCHASE AND DEVELOPMENT AGREEMENT (this “Amendment”) is entered into as of this ____ day of ___________, 2025, by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of the Florida Statutes, with a business address of 100 East Ocean Avenue, 4th Floor, Boynton Beach, Florida 33435 (hereinafter “Seller”) and MAPLE TREE INVESTMENTS, LLC, a Kentucky Limited Liability Company with a business address of 2047 Grab Road, Greensburg, Kentucky 42743 (hereinafter “Purchaser”). Seller and Purchaser may be referred to herein individually as “Party” and collectively as the “Parties.” RECITALS: WHEREAS, the Parties entered into that certain Purchase and Development Agreement, dated as of November 25, 2024, (the “Agreement”); and WHEREAS, the Parties enter into this Amendment to modify and amend the Agreement, all as provided for in this Amendment; and NOW, THEREFORE, in consideration of TEN & NO/100 DOLLARS ($10.00) and other good and valuable considerations, the receipt and sufficiency of which the Parties hereby acknowledge, the Parties agree as follows: 1. Recitals; Capitalized Terms; Conflict. The foregoing Recitals are true and correct and are incorporated herein by this reference, as if set forth in their entirety. Any capitalized term not defined in this Amendment shall have the meaning ascribed to such term in the Agreement. In the event of any conflict between the terms and conditions set forth in this Amendment and those set forth in the Agreement, the terms and conditions of this Amendment shall control. 2. Closing Date. Purchaser shall have the right, but not the obligation, to accelerate the Closing Date to on or before August 1, 2025. To exercise this right, Purchaser must provide Seller notice of its election to accelerate by July 15, 2025, and ensure Closing Agent ha s received all funds needed to close by July 31, 2025. Should Purchaser fail to exercise this right, the terms and provisions of this Paragraph 2 (which term shall include all subparagraphs) of the Amendment shall be ineffective and the Agreement shall remain unchanged. Should Purchaser timely exercise this right, the Agreement shall be amended as follows: (a) Paragraph 20.d of the Agreement shall be deleted in its entirety and replaced with the following: “Commencement of construction (and to the extent permissible under the United States Postal Service rules and regulations, a groundbreaking ceremony) shall occur no later than thirty (30) days after receipt of building permit. SELLER will be in attendance at the ceremony and participate in its planning.”; 1067 #488116v2 4938-8008-2762, v. 1 (b) A new Paragraph 23 shall read as follows: “Reverter Clause. The Special Warranty Deed shall contain a reverter clause (the "Reverter Clause") that shall run with the Property from the Closing Date until Completion of Construction, at which point the Reverter Clause shall automatically terminate. SELLER shall hav e the right to exercise its right of reverter if construction does not occur pursuant to the deadlines set forth in the Agreement, as amended, and as set forth in Paragraph 13.1.2. In the event SELLER expresses intent to exercise the right of reverter, SELLER shall first notify PURCHASER of SELLER'S intent to exercise the right of reverter, and PURCHASER shall have sixty (60) days from delivery of the notice during which to cure the default and provide evidence of same to SELLER. In the event the SELLER exercises its right of reverter, SELLER shall pay to PURCHASER: (i) the Purchase Price of the property as set forth in Section 2 of the Agreement; and (ii) the amount of all verifiable out-of-pocket construction costs incurred by PURCHASER between the issuance of the building permit and the time of default in connection with the Project, which shall be evidenced by bank statements, invoices and other documentation reasonably requested by SELLER, to the extent that the costs associated with those improvements have not been recaptured by the PURCHASER. To carry out the terms of this Section, PURCHASER shall execute a reverter agreement in a form acceptable to Seller at closing. Upon the Completion of Construction, the SELLER agrees to promptly issue a recordable letter acknowledging the release of the reverter rights described herein. PURCHASER shall be responsible for all of SELLER’s legal fees incurred by SELLER as part of any effort by the SELLER to consider exercising or actually exercising the reverter described in this Paragraph 23.”; and 3. A new Paragraph 24 shall read as follows: “It is understood and agreed that PURCHASER shall be responsible for all of SELLER’s legal fees associated in any way with this Amendment, regardless of whether PURCHASER ultimately elects to accelerate closing as provided for in Paragraph 2 of this Amendment. To effectuate this paragraph, SELLER shall provide documentation of legal fees incurred, and PURCHASER shall reimburse seller for same within 60 days of receipt of such documentation. .” 4. Counterparts; Facsimile. This Amendment may be executed in one or more counterparts and each executed counterpart shall, for all purposes, be deemed an original and shall have the same force and effect as an original, all of which counterparts together shall constitute the same instrument. The parties may rely on signatures transmitted via facsimile or electronic mail. This Amendment shall become effective upon execution by all parties hereto. 1068 #488116v2 4938-8008-2762, v. 1 5. Ratification. Except as specifically modified as set forth in this Amendment, the Agreement is ratified and confirmed as written and remains in full force and effect without modification. [signatures appear on following page] 1069 #488116v2 4938-8008-2762, v. 1 IN WITNESS WHEREOF, the Parties have each executed and delivered this Amendment as of the date set forth above. PURCHASER: MAPLE TREE INVESTMENTS, LLC SELLER: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ___________________________________ _____________________________________ Printed Name: _______________________ Printed Name: _________________________ Title: ______________________________ Title: Chair Date: ______________________________ Date: ________________________________ WITNESS: ___________________________________ Printed Name: _______________________ WITNESS: _____________________________________ Printed Name: _________________________ 1070 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.F SUBJECT: Continued Discussion and Consideration of a Request for Funding for the City View Apartments located at the SW Corner of Federal Highway and SE 5th Avenue - REVISED 06/06/2025 SUMMARY: On April 23, 2025, the CRA received a funding request from Landmark Developers, Inc. for their project known as the City View Apartments located on 1.2 acres at the SW corner of the intersection of S. Federal Highway and SE 5th Avenue (see Attachment I & II). The City View Apartment project, in partnership with the West Palm Beach Housing Authority, would address the housing needs of seniors on limited fixed incomes and feature site facilities such as a clubroom, fitness center and a computer center. The development would also include ground floor commercial space. The project is to the east of Pence Park and in close proximity to the City's Senior Center. The development team presented at the May 13, 2025 Board Meeting (see Attachment III). A summary of the project includes: 90 senior rental apartments* 6-stories* 4,791 square feet of commercial space* Estimated rents: 1 bed/1bath = $1,881/mo; 2 bed/2bath = $2,195/mo. Rents will not exceed 30% of the annual income of each household as applicable *Building height, number of units and unit mix/type to be determined through site plan submittal and review process In order for City View to provide attainable rents for seniors, they are seeking CRA assistance for the construction of the project. The request is through two different funding scenarios described below: Scenario One: Florida Housing Finance Corporation 4% Housing Credits (FCHC) $4.35 million of CRA Loan to be funded during construction $12.14 million Palm Beach County Loan First Mortgage of $12,000,000 1071 •Attachment I - Location Map •Attachment II - City View Request for Funding Submittal •Attachment III - City View Board Presentation •Attachment IV - City View Apartments Revised Request Scenario Two: Florida Housing Finance Corporation 9% Housing Credits $2.4 million of CRA Loan to be funded during construction $4.7 million Palm Beach County Loan First Mortgage of $13,585,000 With both scenarios, the CRA loan would have an interest rate of 0% and would be forgivable after 30 years from execution of the note. At the conclusion of the presentation, the Board directed staff and legal to negotiate the terms and explore additional options for CRA funding. CRA staff and legal met with Landmark Developers on May 21, 2025. Landmark Developers provided a revised request with the following terms (see Attachment IV): Scenario One (Attachment V): Florida Housing Finance Corporation 4% Housing Credits $3.75 million in CRA reimbursement funded during construction $12.14 million Palm Beach County Loan First Mortgage of $12,000,000 Scenario Two (Attachment VI): Florida Housing Finance Corporation 9% Housing Credits $2.4 million in CRA reimbursement funded during construction $4.7 million Palm Beach County Loan First Mortgage of $13,585,000 Per the revised request, in regards to Scenario 1, Palm Beach County limits its funding to 25% of the project costs, which constrains City View's ability to reduce the request from the BBCRA. With either scenario, the CRA funding commitment would remain in place through late FY 2029-2030 to allow the developer two application cycles given the highly competitive nature of obtaining funding from the County and FHFC. Additionally, it was determined the CRA funding would be provided as a reimbursement during construction rather than as a loan or grant. The developer is requesting a Letter of Support to further aid the applications for the State and County funding (see Attachment VII). CRA staff is seeking Board direction on the revised request. CRA BOARD OPTIONS: To be determined based on Board discussion. ATTACHMENTS: Description 1072 •Attachment V - Scenario 1 Supplemental Information •Attachment VI - Scenario 2 Supplemental Information •Attachment VII - Letter of Support (REVISED 06/06/2025) 1073 Reset Select Language ▼   v.1.4a 4/24/25, 10:36 AM PAPA Countywide Map https://gis.pbcgov.org/papagis/papa.html#1/11074 11075 Cover Letter / Project Description:…………………..………………………....…TAB 1 Sponsorship – Ownership Structure & Developers:……………....................…...TAB 2 Sponsorship & Developer Experience:……………………………………....…….TAB 3 Property Management Information:…..…………………………………....……..TAB 4 Team of Consultants & Professionals:………………………..…………….……..TAB 5 Description of Proposed Improvements & Costs (Sources & Uses):....................TAB 6 Conceptual Site Plan, etc.:…………………………………………………..……..TAB 7 Confirmation that Proposed Use is Allowed:…………………..………………...TAB 8 Evidence of Financial Capacity:…..………………………………………………TAB 9 Estimated Development Timeline:……………………………………………......TAB 10 City View Index / Table of Contents 2 1076 31077 4 1078 A. OWNERSHIP: City View Associates, Ltd. (CVA) (Owner) 3050 Biscayne Blvd., Suite #300 Miami, FL 33137 Phone: (561) 655-8530 x1104 Attn: Linda Odum, President of Pine Ridge Holistic Living Center, Inc., the General Partner of Respondent (lodum@wpbha.org) Operational Contact 3050 Biscayne Blvd., Suite #300 Miami, FL 33137 Phone: (305) 538-9552 x103 Attn: Francisco Rojo, Sole Member/Manager of Landmark City View, LLC, Limited Partner of Respondent (francisco@landmarkco.net) General Partner (.005% Owner) Pine Ridge Holistic Living Center, Inc. 906 Grant Street West Palm Beach, FL 33407 Phone: (561) 655-8530 x1104 Attn: Linda Odum, President (lodum@wpbha.org) Co-Limited Partner (.0025% Owner) Landmark City View, LLC 3050 Biscayne Blvd., Suite #300 Miami, FL 33137 Phone: (305) 538-9552 x103 Attn: Francisco Rojo, Sole Member/Manager (francisco@landmarkco.net) City View TAB 2 Sponsorship – Ownership Structure & Developers 5 1079 Co-Limited Partner of Respondent (.0025% Owner) WPBHA City View, LLC 3700 Georgia Ave. West Palm Beach, FL 33405 Phone: (561) 655-8530 x1104 Attn: Linda Odum, Executive Director of West Palm Beach Housing Authority, its Sole Member & Manager (lodum@wpbha.org) Tax Credit Investor Limited Partner (99.99% Owner) Anticipated to be Raymond James Currently this interest is held by Francisco Rojo B. DEVELOPERS: Co-Developer Landmark Developers, Inc. 3050 Biscayne Blvd., Suite #300 Miami, FL 33137 Phone: (305) 538-9552 x103 Attn: Francisco Rojo, President (francisco@landmarkco.net) Co-Developer Magnolia Affordable Development, Inc. 3700 Georgia Ave. West Palm Beach, FL 33405 Phone: (561) 655-8530 x1104 Attn: Linda Odum, President (lodum@wpbha.org) City View Tab 2 Sponsorship – Ownership Structure & Developers 6 1080 ▪ Organizational Chart ▪ 2025 State of Florida – Certificate of Good Standing ▪ Cert. of Amendment to Limited Partnership Agreement ▪ Limited Partnership Agreement ▪ Employer Identification Number City View Tab 2 City View Associates, Ltd. Owner 7 1081 * Officers/Directors for the following: Lisa Maxwell, Member Denise Smith Barnes, Treasurer West Palm Beach Housing Authority - Board of Commissioners: Larry Brown, Commissioner/Vice Chair Denise Smith-Barnes, Chairperson Pine Ridge Holistic Living Center, Inc - Board of Directors: Linda Odum, President Paul Dumars, Secretary Felicita Nunez, Member Amanda Dolce, Member Tanzanika Lillard, Commissioner Malcom Joy, Commissioner Yolanda Wilson, Commissioner Christopher Chase, Commissioner Suzanne Turner, Commissioner Ownership Chart WPBHA City View, LLC (Non-Investor Limited Partner) (.0025%) West Palm Beach Housing Authority (Sole Member & Manager) City View Associates, Ltd. (Owner Entity) a Florida Limited Partnership Tac Credit Investor Limited Partner - Anticipated to be Raymond James. Presently Francisco Rojo (99.99%) Landmark City View, LLC, a Florida Limited Liability Company (Non-Investor Limited Partner) (.0025%) Pine Ridge Holistic Living Center, Inc., a Florida non-profit corporation & 501 (c) 3 entity (General Partner) (.005%) Francisco Rojo, Member (President & Sole Owner) 8 1082 State of Florida Department of State I certify from the records of this office that CITY VIEW ASSOCIATES, LTD. is a limited partnership organized under the laws of the State of Florida, filed on May 23, 2024. The document number of this limited partnership is A24000000256. I further certify that said limited partnership has paid all fees due this office through December 31, 2025 and that its status is active. I further certify that said limited partnership has not filed a Certificate of Withdrawal. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the Seventeenth day of April, 2025 Tracking Number: 8572725180CU To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 9 1083 10 1084 11 1085 12 1086 13 1087 14 1088 15 1089 16 1090 17 1091 18 1092 19 1093 ▪ 2025 State of Florida – Certificate of Good Standing ▪ Governing Board List ▪ Articles of Incorporation ▪ Bylaws ▪ Internal Revenue Service 501(c)(3) letter dated 3/25/2015 City View Tab 2 Pine Ridge Holistic Living Center, Inc. General Partner 20 1094 State of Florida Department of State I certify from the records of this office that PINE RIDGE HOLISTIC LIVING CENTER, INC. is a corporation organized under the laws of the State of Florida, filed on November 13, 2013. The document number of this corporation is N13000010318. I further certify that said corporation has paid all fees due this office through December 31, 2025, that its most recent annual report/uniform business report was filed on April 2, 2025, 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 Second day of April, 2025 Tracking Number: 4993557366CC To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 21 1095 PINE RIDGE HOLISTIC LIVING CENTER, INC GOVERNING BOARD LIST (2025) Name: Linda Odum Office: President Name: Denise Smith Barnes Office: Treasurer Name: Lisa Maxwell Office: Member Name: Paul Dumars Office: Secretary Name: Felicita Nunez Office: Member Name: Amanda Dolce Office: Member 22 1096 23 1097 24 1098 25 1099 26 1100 27 1101 28 1102 29 1103 1 Revised Bylaws Effective 5/21/2020 FIRST AMENDED BYLAWS PINE RIDGE HOLISTIC LIVING CENTER ARTICLE I NAME 1.01 Name The name of this corporation shall be Pine Ridge Holistic Living Center, Inc. The business of the corporation may be conducted as the Pine Ridge Holistic Living Center, Inc. ARTICLE II PURPOSES AND POWERS 2.01 Purpose Pine Ridge Holistic Living Center, Inc. is a non-profit corporation and shall be operated exclusively for those purposes within the meaning of Section 501 (c)(3) of the Internal Revenue Code of 1986, or the corresponding section of any future Federal tax code. Pine Ridge Holistic Living Center’s purpose is to operate exclusively for charitable, scientific and/or educational purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986 or any corresponding provision of any future United States Internal Revenue Law. Our programs will serve low income persons and families through the provision of programs and services that support the basic needs of families and individuals for healthy holistic living with a) fitness and wellness programs b) nutritional programs c) preventive health seminars d) access of family, personal, and educational support services e) resources and access to safe affordable housing, and f) programs to encourage financial stability. 30 1104 2 Revised Bylaws Effective 5/21/2020 g) Economic development to combat blighted areas and community deterioration and lessen burdens of local government h) Elimination of prejudice and discrimination in the community At times, per the discretion of the board of directors, we may provide internships or volunteer opportunities which shall provide opportunities for involvement in said activities and programs in order to fulfill our purposes and mission. 2.02 Powers The corporation shall have the power, directly or indirectly, alone or in conjunction or cooperation with others, to do any and all lawful acts which may be necessary or convenient to affect the charitable purposes, for which the corporation is organized, and to aid or assist other organizations or persons whose activities further accomplish, foster, or attain such purposes. The powers of the corporation may include, but not be limited to, the acceptance of contributions from the public and private sectors, whether financial or in-kind contributions. 2.03 Nonprofit Status and Exempt Activities Limitation. (a) Nonprofit Legal Status. Pine Ridge Holistic Living Center, Inc., a Florida non-profit corporation, recognized as tax exempt under Section 501(c)(3) of the United States Internal Revenue Code. (b) Exempt Activities Limitation. Notwithstanding any other provision of these Bylaws, no director, officer, employee, member, or representative of this corporation shall take any action or carry on any activity by or on behalf of the corporation not permitted to be taken or carried on by an organization exempt under Section 501(c)(3) of the Internal Revenue Code as it now exists or may be amended, or by any organization contributions to which are deductible under Section 170(c)(2) of such Code and Regulations as it now exists or may be amended. No part of the net earnings of the corporation shall inure to the benefit or be distributable to any director, officer, member, or other private person, except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth in the Articles of Incorporation and these Bylaws. (c) Distribution Upon Dissolution. Upon termination or dissolution of the Pine Ridge Holistic Living Center, any assets lawfully available for distribution shall be distributed to one (1) or more qualifying organizations described in Section 501(c)(3) of the 1986 Internal Revenue Code (or described in any corresponding provision of any successor statute) which organization or organizations have a charitable purpose which, at least generally, includes a purpose similar to the terminating or dissolving corporation. 31 1105 3 Revised Bylaws Effective 5/21/2020 The organization to receive the assets of the Pine Ridge Holistic Living Center, Inc. hereunder shall be selected in the discretion of a majority of the Board of Directors of the corporation. A RTICLE III MEMBERSHIP 3.01 No Membership Classes The corporation shall have no members who have any right to vote or title or interest in or to the corporation, its properties and franchises. 3.02 Non-Voting Affiliates The board of directors may approve classes of non-voting affiliates with rights, privileges, and obligations established by the board. Affiliates may be individuals, businesses, and other organizations that seek to support the mission of the corporation. The board by a majority vote shall have authority to admit any individual or organization as an affiliate, to recognize representatives of affiliates, and to make determinations as to affiliates’ rights, privileges, and obligations. At no time shall affiliate information be shared with or sold to other organizations or groups without the affiliate’s consent. At the discretion of the board of directors, affiliates may be given endorsement, recognition and media coverage at fundraising activities, clinics, other events or at the corporation website. Affiliates have no voting rights, and are not members of the corporation. 3.03 Dues Any dues for affiliates shall be determined by the board of directors. ARTICLE IV BOARD OF DIRECTORS 4.01 Number of Directors 32 1106 4 Revised Bylaws Effective 5/21/2020 The powers of the corporation shall be exercised, its properties controlled, and its affairs conducted by a Board of Directors composed of no more than seven (7) members who shall initially be appointed by the initial incorporators by resolution, and thereafter elected and reappointed as provided for herein. The Bylaws must provide that the Board of Directors must consist of at least the following: (a)The Executive Director of the West Palm Beach Housing Authority, an organization corporate and politic organized under Florida Statutes 421. (b)At 1/3 of the board shall be persons who represent the low income community; a low income person may be one that resides in West Palm Beach, Florida or any area serviced by the corporation and/or persons residing in a low income neighborhood in Palm Beach County (low income will be defined as 80% of area median income). (c)No more than 1/3 of its governing board be elected or appointed public officials in Palm Beach County, employees of Palm Beach County, or employees of other governmental state of federal agencies that service Palm Beach County, Florida. 4.02 Powers All corporate powers shall be exercised by or under the authority of the board and the affairs of the Pine Ridge Holistic Living Center. Inc. shall be managed under the direction of the board, except as otherwise provided by law. 4.03 Terms (a)All directors shall be elected to serve a three-year term, however the term may be extended until a successor has been elected. (b)Director terms shall be staggered so that approximately half the number of directors will end their terms in any given year. (c)Directors may serve terms in succession. (d)The term of office shall be considered to begin January 1 and end December 31 of the fourth year in office, unless the term is extended or until such time as a successor has been elected. 4.04 Qualifications and Election of Directors In order to be eligible to serve as a director on the board of directors, the individual must be 18 years of age and be eligible for the Director classification as provided herein under section 4.01. 33 1107 5 Revised Bylaws Effective 5/21/2020 Directors may be elected at any board meeting by the majority vote of the existing board of directors. The election of directors to replace those who have fulfilled their term of office shall take place in January of each year, or during a scheduled board meeting. 4.05 Vacancies The board of directors may fill vacancies due to the expiration of a director’s term of office, resignation, death, or removal of a director or may appoint new directors to fill a previously unfilled board position, subject to the maximum number of directors under these Bylaws. (a) Unexpected Vacancies. Vacancies in the board of directors due to resignation, death, or removal shall be filled by the board until such time as a new director may be elected. 4.06 Removal of Directors A director may be removed by a supermajority vote of the board of directors then in office, if: (a) the director is absent and unexcused from three or more meetings of the board of directors in a twelve month period. The board president is empowered to excuse directors from attendance for a reason deemed adequate by the board president. The president shall not have the power to excuse him/herself from the board meeting attendance and in that case, the board vice president shall excuse the president. Or: (b) for cause or no cause only before any meeting of the board at which a vote on removal will be made the director in question is given at least forty-eight (48) hour notice electronic or written notification of the board’s intention to discuss her/his case and is given the opportunity to be heard at a meeting of the board. 4.07 Board of Directors Meetings. (a) Regular Meetings. The board of directors shall have a minimum of four (4) regular meetings each calendar year at times and places fixed by the board. Board meetings shall be held upon three (5) five day notice by first-class mail, electronic mail, or facsimile transmission. If sent by mail, facsimile transmission, or electronic mail, the notice shall be deemed to be delivered upon its deposit in the mail or transmission system. Notice of meetings shall specify the place, day, and hour of meeting. The purpose of the meeting need not be specified. (b) Special Meetings. Special meetings of the board may be called by a majority of the Board of Directors. A special meeting must be preceded by at least 2 days’ notice to each director of the date, time, and place, but not the purpose, of the meeting. 34 1108 6 Revised Bylaws Effective 5/21/2020 (c) Waiver of Notice. Any director may waive notice of any meeting, in accordance with Florida law. 4.08 Manner of Acting. (a) Quorum. A majority of the directors in office immediately before a meeting shall constitute a quorum for the transaction of business at that meeting of the board. Electronic participation shall be valid to constitute a quorum. No business shall be considered by the board at any meeting at which a quorum is not present. (b) Majority Vote. Except as otherwise required by law or by the articles of incorporation, the act of the majority of the directors present, including electronic participation, at a meeting at which a quorum is present shall be the act of the board. (c) Participation. Except as required otherwise by law, the Articles of Incorporation, or these Bylaws, directors may participate in a regular or special meeting through the use of any means of communication by which all directors participating may simultaneously hear each other during the meeting, including in person, internet video meeting or by telephonic conference call. (d) No voting by proxy. 4.09 Compensation for Board Service Members of the Board of Directors shall receive no compensation for carrying out their duties as directors. The Board of Directors may adopt policies providing for reasonable reimbursement of directors for expenses incurred in conjunction with carrying out board responsibilities. ARTICLE V OFFICERS 5.01 Board Officers The officers of the corporation shall be a board president, vice-president, secretary, and treasurer, all of whom shall be chosen by, and serve at the pleasure of, the board of directors. Each board officer shall have the authority and shall perform the duties set forth in these Bylaws or by resolution of the board or by direction of an officer authorized by the board to prescribe the duties and authority of other officers. The board may also appoint additional vice-presidents and 35 1109 7 Revised Bylaws Effective 5/21/2020 such other officers as it deems expedient for the proper conduct of the business of the corporation, each of whom shall have such authority and shall perform such duties as the board of directors may determine. One person may hold two or more board offices, but no board officer may act in more than one capacity where action of two or more officers is required. 5.02 Term of Office Each officer shall serve a two-year term of office and may not serve more than three (3) consecutive terms of office. Unless unanimously elected by the board at the end of his/her three (3) year terms or to fill a vacancy in an officer position, each board officer’s term of office shall begin upon the adjournment of the board meeting at which elected and shall end upon the adjournment of the board meeting during which a successor is elected. 5.03 Removal and Resignation The board of directors may remove an officer at any time, with or without cause. Any officer may resign at any time by giving written notice to the corporation without prejudice to the rights, if any, of the corporation under any contract to which the officer is a party. Any resignation shall take effect at the date of the receipt of the notice or at any later time specified in the notice, unless otherwise specified in the notice. The acceptance of the resignation shall not be necessary to make it effective. 5.04 Board President The board president shall be the chief volunteer officer of the corporation. The board president shall lead the board of directors in performing its duties and responsibilities, including, if present, presiding at all meetings of the board of directors, and shall perform all other duties incident to the office or properly required by the board of directors. 5.05 Vice President In the absence or disability of the board president, the ranking vice-president or vice-president designated by the board of directors shall perform the duties of the board president. When so acting, the vice-president shall have all the powers of and be subject to all the restrictions upon the board president. The vice-president shall have such other powers and perform such other duties prescribed for them by the board of directors or the board president. The vice-president shall normally accede to the office of board president upon the completion of the board president’s term of office. 36 1110 8 Revised Bylaws Effective 5/21/2020 5.06 Secretary The secretary shall keep or cause to be kept a book of minutes of all meetings and actions of directors and committees of directors. The minutes of each meeting shall state the time and place that it was held and such other information as shall be necessary to determine the actions taken and whether the meeting was held in accordance with the law and these Bylaws. The secretary shall cause notice to be given of all meetings of directors and committees as required by the Bylaws. The secretary shall have such other powers and perform such other duties as may be prescribed by the board of directors or the board president. The secretary may appoint, with approval of the board, a director to assist in performance of all or part of the duties of the secretary. 5.07 Treasurer The treasurer shall be the lead director for oversight of the financial condition and affairs of the corporation. The treasurer shall oversee and keep the board informed of the financial condition of the corporation and of audit or financial review results. In conjunction with other directors or officers, the treasurer shall oversee budget preparation and shall ensure that appropriate financial reports, including an account of major transactions and the financial condition of the corporation, are made available to the board of directors on a timely basis or as may be required by the board of directors. The treasurer shall perform all duties properly required by the board of directors or the board president. The treasurer may appoint, with approval of the board a qualified fiscal agent or member of the staff to assist in performance of all or part of the duties of the treasurer. 5.08 Non-Director Officers The board of directors may designate additional officer positions of the corporation and may appoint and assign duties to other non-director officers of the corporation. ARTICLE VI CONTRACTS, CHECKS, LOANS, INDEMNIFICATION AND RELATED MATTERS 6.01 Contracts and other Writings 37 1111 9 Revised Bylaws Effective 5/21/2020 Except as otherwise provided by resolution of the board or board policy, all contracts, deeds, leases, mortgages, grants, and other agreements of the corporation shall be executed on its behalf by the President or other persons to whom the corporation has delegated authority to execute such documents in accordance with policies approved by the board. 6.02 Checks, Drafts All checks, drafts, or other orders for payment of money, notes, or other evidence of indebtedness issued in the name of the corporation, shall be signed by two (2) officer or officers, agent or agents, of the corporation and in such manner as shall from time to time be determined by resolution of the board. 6.03 Deposits All funds of the corporation shall be deposited from time to time to the credit of the corporation in such banks, trust companies, or other depository as the board or a designated committee of the board may select. 6.04 Loans No loans shall be contracted on behalf of the corporation and no evidence of indebtedness shall be issued in its name unless authorized by resolution of the board. Such authority may be general or confined to specific instances. 6.05 Indemnification (a) Mandatory Indemnification. The corporation shall indemnify a director or former director, who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which he or she was a party because he or she is or was a director of the corporation against reasonable expenses incurred by him or her in connection with the proceedings. (b) Permissible Indemnification. The corporation shall indemnify a director or former director made a party to a proceeding because he or she is or was a director of the corporation, against liability incurred in the proceeding, if the determination to indemnify him or her has been made in the manner prescribed by the law and payment has been authorized in the manner prescribed by law. 38 1112 10 Revised Bylaws Effective 5/21/2020 (c) Indemnification of Officers, Agents and Employees. An officer of the corporation who is not a director is entitled to mandatory indemnification under this article to the same extent as a director. The corporation may also indemnify an employee or agent of the corporation who is not a director, consistent with Florida law and public policy, provided that such indemnification, and the scope of such indemnification, is set forth by the general or specific action of the board or by contract. ARTICLE VII MISCELLANEOUS 7.01 Books and Records The corporation shall keep correct and complete books and records of account and shall keep minutes of the proceedings of all meetings of its board of directors, a record of all actions taken by board of directors without a meeting, and a record of all actions taken by committees of the board. In addition, the corporation shall keep a copy of the corporation’s Articles of Incorporation and Bylaws as amended to date. 7.02 Fiscal Year The fiscal year of the corporation shall be from January 1 to December 31 of each year. 7.03 Conflict of Interest The board shall adopt and periodically review a conflict of interest policy to protect the corporation’s interest when it is contemplating any transaction or arrangement which may benefit any director, officer, employee, affiliate, or member of a committee with board-delegated powers. 7.04 Nondiscrimination Policy The officers, directors, committee members, employees, and persons served by this corporation shall be selected entirely on a nondiscriminatory basis with respect to age, sex, race, religion, national origin, and sexual orientation. It is the policy of Pine Ridge Holistic Living Center not to discriminate on the basis of race, ancestry, marital status, gender, sexual orientation, age, 39 1113 11 Revised Bylaws Effective 5/21/2020 physical disability, veteran’s status, political service or affiliation, color, religion, or national origin. 7.05 Bylaw Amendment These Bylaws may be amended, altered, repealed, or restated by a vote of the majority of the board of directors then in office at a meeting of the Board, provided, however, (a) that no amendment shall be made to these Bylaws which would cause the corporation to cease to qualify as an exempt corporation under Section 501 (c)(3) of the Internal Revenue Code of 1986, or the corresponding section of any future Federal tax code; and, (b) that an amendment does not affect the voting rights of directors. An amendment that does affect the voting rights of directors further requires a supermajority vote of a quorum of directors at a Board meeting. (c) that all amendments be consistent with the Articles of Incorporation. ARTICLE VIII DOCUMENT RETENTION POLICY 8.01 Purpose The purpose of this document retention policy is establishing standards for document integrity, retention, and destruction and to promote the proper treatment of Pine Ridge Holistic Living Center, Inc. records. 8.02 Minimum Retention Periods for Specific Categories (a) Corporate Documents. Corporate records include the corporation’s Articles of Incorporation, By-Laws and IRS Form 1023 and Application for Exemption. Corporate records should be retained permanently. IRS regulations require that the Form 1023 be available for public inspection upon request. 40 1114 12 Revised Bylaws Effective 5/21/2020 (b) Tax Records. Tax records include, but may not be limited to, documents concerning payroll, expenses, proof of contributions made by donors, accounting procedures, and other documents concerning the corporation’s revenues. Tax records should be retained for at least seven years from the date of filing the applicable return. (c) Employment Records/Personnel Records. State and federal statutes require the corporation to keep certain recruitment, employment and personnel information. The corporation should also keep personnel files that reflect performance reviews and any complaints brought against the corporation or individual employees under applicable state and federal statutes. The corporation should also keep in the employee’s personnel file all final memoranda and correspondence reflecting performance reviews and actions taken by or against personnel. Employment applications should be retained for three years. Retirement and pension records should be kept permanently. Other employment and personnel records should be retained for seven years. (d) Board and Board Committee Materials. Meeting minutes should be retained in perpetuity in the corporation’s minute book. A clean copy of all other Board and Board Committee materials should be kept for no less than three years by the corporation. (e) Press Releases/Public Filings. The corporation should retain permanent copies of all press releases and publicly filed documents under the theory that the corporation should have its own copy to test the accuracy of any document a member of the public can theoretically produce against the corporation. (f) Legal Files. Legal counsel should be consulted to determine the retention period of particular documents, but legal documents should generally be maintained for a period of ten years. (g) Marketing and Sales Documents. The corporation should keep final copies of marketing and sales documents for the same period of time it keeps other corporate files, generally three years. An exception to the three-year policy may be sales invoices, contracts, leases, licenses, and other legal documentation. These documents should be kept for at least three years beyond the life of the agreement. (h) Development/Intellectual Property and Trade Secrets. Development documents are often subject to intellectual property protection in their final form (e.g., patents and copyrights). The documents detailing the development process are often also of value to the corporation and are protected as a trade secret where the corporation: (i) derives independent economic value from the secrecy of the information; and (ii) has taken affirmative steps to keep the information confidential. The corporation should keep all documents designated as containing trade secret information for at least the life of the trade secret. 41 1115 13 Revised Bylaws Effective 5/21/2020 (i) Contracts. Final, execution copies of all contracts entered into by the corporation should be retained. The corporation should retain copies of the final contracts for at least three years beyond the life of the agreement, and longer in the case of publicly filed contracts. (j) Correspondence. Unless correspondence falls under another category listed elsewhere in this policy, correspondence should generally be saved for two years. (k) Banking and Accounting. Accounts payable ledgers and schedules should be kept for seven years. Bank reconciliations, bank statements, deposit slips and checks (unless for important payments and purchases) should be kept for three years. Any inventories of products, materials, and supplies and any invoices should be kept for seven years. (l) Insurance. Expired insurance policies, insurance records, accident reports, claims, etc. should be kept permanently. (m) Audit Records. External audit reports should be kept permanently. Internal audit reports should be kept for three years. (n) Electronic Mail. Electronic mail and emails may be printed in hard copy and kept in the appropriate file; or downloaded to a computer file and kept electronically or on disk as a separate file. The retention period depends upon the subject matter of the e-mail, as covered elsewhere in this policy. 8.03 Electronic Retension. All records may be retained electronically. ARTICLE IX Transparency and Accountability Disclosure of Financial Information With The General Public 9.01 Purpose By making full and accurate information about its mission, activities, finances, and governance publicly available, Pine Ridge Holistic Living Center, Inc. practices and encourages transparency and accountability to the general public. This policy will: (a) indicate which documents and materials produced by the corporation are presumptively open to staff and/or the public (b) indicate which documents and materials produced by the corporation are presumptively closed to staff and/or the public 42 1116 14 Revised Bylaws Effective 5/21/2020 (c) specify the procedures whereby the open/closed status of documents and materials can be altered. 9.02 Financial and IRS documents (The form 1023 and the form 990) Pine Ridge Holistic Living Center shall provide its Internal Revenue forms 990, 990-T, 1023 and 5227, bylaws, conflict of interest policy, and financial statements to the general public for inspection free of charge. 9.03 IRS Annual Information Returns (Form 990) Pine Ridge Holistic Living Center, Inc. shall submit the Form 990 to its board of directors prior to the filing of the Form 990. While neither the approval of the Form 990 or a review of the 990 is required under Federal law, the corporation’s Form 990 shall be submitted to each member of the board of director’s via (hard copy or email) at least 10 days before the Form 990 is filed with the IRS. 9.04 Board (a) All board deliberations shall be open to the public except where the board passes a motion to make any specific portion confidential. (b) All board minutes shall be open to the public once accepted by the board, except where the board passes a motion to make any specific portion confidential. (c) All papers and materials considered by the board shall be open to the public following the meeting at which they are considered, except where the board passes a motion to make any specific paper or material confidential. 9.05 Staff Records (a) All staff records shall be available for consultation by the staff member concerned or by their legal representatives. (b) No staff records shall be made available to any person outside the corporation except the authorized governmental agencies. 43 1117 15 Revised Bylaws Effective 5/21/2020 (c)Within the corporation, staff records shall be made available only to those persons with managerial or personnel responsibilities for that staff member, except that (d)Staff records shall be made available to the board when requested. 9.06 Donor Records (a)All donor records shall be available for consultation by the members and donors concerned or by their legal representatives. (b)No donor records shall be made available to any other person outside the corporation except the authorized governmental agencies. (c)Within the corporation, donor records shall be made available only to those persons with managerial or personnel responsibilities for dealing with those donors, except that; (d)donor records shall be made available to the board when requested. ARTICLE X CODES OF ETHICS 10.01 Purpose Pine Ridge Holistic Living Center, Inc. requires and encourages directors, officers and employees to observe and practice high standards of business and personal ethics in the conduct of their duties and responsibilities. The employees and representatives of the corporation must practice honesty and integrity in fulfilling their responsibilities and comply with all applicable laws and regulations. It is the intent of Pine Ridge Holistic Living Center, Inc. to adhere to all laws and regulations that apply to the corporation and the underlying purpose of this policy is to support the corporation’s goal of legal compliance. The support of all corporate staff is necessary to achieving compliance with various laws and regulations. ARTICLE XI AMENDMENT OF Articles of Incorporation 11.01 Amendment Any amendment to the Articles of Incorporation may be adopted by approval of a supermajority of the board of directors. 44 1118 45 1119 46 1120 47 1121 ▪ 2025 State of Florida – Certificate of Good Standing ▪ Articles of Incorporation ▪ Operating Agreement City View Tab 2 Landmark City View, LLC Co-Limited Partner 48 1122 State of Florida Department of State I certify from the records of this office that LANDMARK CITY VIEW, LLC is a limited liability company organized under the laws of the State of Florida, filed on June 21, 2024. The document number of this limited liability company is L24000281678. I further certify that said limited liability company has paid all fees due this office through December 31, 2025, that its most recent annual report was filed on April 1, 2025, and that its status is active. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the First day of April, 2025 Tracking Number: 1007592075CC To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 49 1123 50 1124 51 1125 52 1126 53 1127 54 1128 55 1129 56 1130 57 1131 ▪ 2025 State of Florida – Certificate of Good Standing ▪ Articles of Incorporation ▪ State of Florida – Certificate of Limited Liability Company City View Tab 2 WPBHA City View, LLC Co-Limited Partner 58 1132 State of Florida Department of State I certify from the records of this office that WPBHA CITY VIEW, LLC is a limited liability company organized under the laws of the State of Florida, filed on June 25, 2024, effective June 25, 2024. The document number of this limited liability company is L24000287622. I further certify that said limited liability company has paid all fees due this office through December 31, 2024 and that its status is active. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the Eighth day of April, 2025 Tracking Number: 5050997471CU To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 59 1133 60 1134 61 1135 62 1136 LANDMARK DEVELOPERS, INC. 3050 Biscayne Blvd., Suite #300 Miami, FL 33137 Phone: (305) 538-9552 x103 Attn: Francisco Rojo, President MAGNOLIA AFFORDABLE DEVELOPMENT, INC. 3700 Georgia Ave. West Palm Beach, FL 33405 Phone: (561) 655-8530 x1104 Attn: Linda Odum, President (lodum@wpbha.org) City View TAB 3 Sponsorship & Developer Experience 63 1137 ▪ Company History ▪ Photographs of Selected Properties ▪ Summary of Prior Developments ▪ 2025 State of Florida – Certificate of Good Standing ▪ Articles of Incorporation ▪ Bylaws ▪ Employer Identification Number City View Tab 3 Landmark Developers, Inc. Co-Developer 64 1138 Building Landmarks is our Business651139 Landmark Developers, Inc.Prior ExperienceLandmark is known state-wide for the development, rehabilitation, construction, and operation of multifamily properties. Within the past 25 years, the Landmark team has developed over 4,800 housing units throughout Florida, with a cost basis of over 845 million dollars. Over 4,000 units are affordable housing financed with Housing Credits and other funding sources. Landmark’s success is a result of choosing the right locations and building the finest product. Landmark’s developments are operated in such a way as to maintain long-term value for investors, lenders, and most importantly, the residents.661140 Royal Palm Place is a 125-unit mid-riseaffordable housing development with one-and two-bedroom units, serving elderlyhouseholds at 33% and 60% of AMI.Royal Palm PlaceCompleted in 2019808 17thStreet,West Palm Beach, Florida 33407671141 Silver Palm PlaceCompleted in 2018838 Adams Street,West Palm Beach, Florida 33407Silver Palm Place is a 120-unit mid-rise affordable housing development withone-, two- and three-bedroom units, serving households at 30% and 60% of AMI.681142 City Heights is a 98-unit high-riseaffordable housing development with one-,two- and three-bedroom units, servingelderly households at 28% and 60% of AMI.City HeightsCompleted in 2014145 SW 8thStreet, Miami, Florida 33130691143 City PlaceUnder Construction75 Park Avenue West,Dania Beach, Florida 33004CityPlacewillbea99-unithigh-riseaffordable housing development withone- and two-bedroom units, servinghouseholds at 28% and 60% of AMI.701144 4/17/2025 Project Name Location Project Type Multi-Family / Homeownership Costs No. of Units Year Completed 1 City Place Dania Beach, FL High-Rise Multi-Family $46.0MM 99 2025 2 Autumn Ridge W. Palm Beach, FL Mid-Rise Multi-Family $40.0MM 106 2024 3 Windmill Farms Homestead, FL Garden Multi-Family $84.0MM 274 2024 4 Fair Oaks Homestead, FL Mid-Rise Multi-Family $33.4MM 124 2021 5 Coral Bay Cove Miami, FL Garden Multi-Family $49.2MM 224 2020 6 Royal Palm Place W. Palm Beach, FL Mid-Rise Multi-Family $21.1MM 125 2019 7 City Vista Pompano Beach, FL High-Rise Multi-Family $31.2MM 111 2018 8 Silver Palm Place W. Palm Beach, FL Mid-Rise Multi-Family $20.6MM 120 2018 9 Keys Crossing Homestead, FL Garden Multi-Family $22.8MM 100 2017 10 Willow Lake Miami Gardens, FL Townhouse Multi-Family $32.8MM 121 2017 11 Paul Laurence Dunbar Sr. Complex W. Palm Beach, FL Garden Multi-Family $13.8MM 99 2017 12 Malibu Gardens Homestead, FL Garden Multi-Family $25.5MM 259 2015 13 City Crossings Miami, FL High-Rise Multi-Family $28.9MM 103 2015 14 Circle Creek Homestead, FL Garden Multi-Family $18.5MM 100 2014 15 City Heights Miami, FL High-Rise Multi-Family $28.1MM 98 2014 16 Hampton Village Miami, FL Mid-Rise Multi-Family $21.1MM 100 2013 17 Westgate Plaza W. Palm Beach, FL Mid-Rise Multi-Family $14.4MM 80 2012 18 Woodside Oaks Homestead, FL Garden Multi-Family $20.3MM 103 2011 19 Portland Apartments St. Petersburg, FL High-Rise Multi-Family $20.3MM 68 2011 20 Sunrise Commons Miami, FL Mid-Rise Multi-Family $26.2MM 106 2009 21 Quiet Waters Belle Glade, FL Garden Multi-Family $15.0MM 93 2009 22 Coral Key*Margate, FL Garden For-Sale $56.0MM 364 2007 Florida Housing Finance Corporation (FHFC) Experience Over 4,800 Units Developed (Over 4,000 Units w/ FHFC Financing) 71 1145 Project Name Location Project Type Multi-Family / Homeownership Costs No. of Units Year Completed Florida Housing Finance Corporation (FHFC) Experience Over 4,800 Units Developed (Over 4,000 Units w/ FHFC Financing) 23 Mirassou*Miami, FL Mid-Rise For-Sale $35.8MM 310 2006 24 Lakeside Commons W. Palm Beach, FL Mid-Rise Multi-Family $12.2MM 99 2006 25 Pine Meadows Jacksonville, FL Garden Multi-Family $20.3MM 224 2005 26 Emerald Dunes Miami Gardens, FL Garden Multi-Family $13.2MM 141 2004 27 Park Villas Titusville, FL Garden Multi-Family $12.4MM 160 2003 28 Cedar Grove Miami Gardens, FL Garden Multi-Family $26.4MM 288 2004 29 Running Brook Miami, FL Garden Multi-Family $16.5MM 186 2002 30 Stirling Apts. Phase I & II Davie, FL Garden Multi-Family $21.6MM 251 2000 31 The SAILS*Miami Beach, FL Mid-Rise For-Sale $6.2MM 52 2000 32 Riviera Miami Beach, FL Mid-Rise Multi-Family $6.0MM 56 1992 33 London Arms Miami Beach, FL Mid-Rise Multi-Family $6.0MM 58 1990 TOTAL $845.8MM 4,802 *These developments were for sale developments, which did not receive any funding from FHFC. 72 1146 State of Florida Department of State I certify from the records of this office that LANDMARK DEVELOPERS, INC. is a corporation organized under the laws of the State of Florida, filed on May 6, 2024. The document number of this corporation is P24000031274. I further certify that said corporation has paid all fees due this office through December 31, 2025, that its most recent annual report/uniform business report was filed on February 24, 2025, 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-fourth day of February, 2025 Tracking Number: 0833093491CC To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 73 1147 74 1148 75 1149 76 1150 77 1151 78 1152 79 1153 80 1154 81 1155 82 1156 83 1157 84 1158 85 1159 86 1160 87 1161 88 1162 89 1163 90 1164 91 1165 92 1166 93 1167 94 1168 95 1169 96 1170 ▪ 2025 State of Florida – Certificate of Good Standings ▪ Organization Chart ▪ Articles of Incorporation ▪ Bylaws City View Tab 3 Magnolia Affordable Development, Inc. Co-Developer 97 1171 State of Florida Department of State I certify from the records of this office that MAGNOLIA AFFORDABLE DEVELOPMENT, INC. is a corporation organized under the laws of the State of Florida, filed on October 21, 2020. The document number of this corporation is N20000011885. I further certify that said corporation has paid all fees due this office through December 31, 2025, that its most recent annual report/uniform business report was filed on April 2, 2025, 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 Second day of April, 2025 Tracking Number: 3520032111CC To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https://services.sunbiz.org/Filings/CertificateOfStatus/CertificateAuthentication 98 1172 ORGANIZATION CHART FOR MAGNOLIA AFFORDABLE DEVELOPMENT, INC. AS OF DECEMBER 2024 MAGNOLIA AFFORDABLE DEVELOPMENT, INC. A FLORIDA NONPROFIT CORPORATION West Palm Beach Housing Authority Sole Member & Manager Linda Odum, President Denise Smith Barnes, Secretary Larry Brown, Treasurer 99 1173 100 1174 101 1175 102 1176 103 1177 Active\120610355.v4 BYLAWS OF MAGNOLIA AFFORDABLE DEVELOPMENT, INC. (a Florida nonprofit corporation) ARTICLE I. PURPOSE AND ACTIVITIES Section 1.01. PURPOSE AND ACTIVITIES. Magnolia Affordable Development, Inc., Inc. (the “Corporation”), is incorporated under the Florida Not For Profit Corporation Act (the “FNPCA”) for exclusively charitable, educational, religious, literary and/or scientific purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (or the corresponding provision of any successor United States Internal Revenue Law) (the “Code”). In furtherance of the Corporation’s purposes, the Corporation will engage in charitable activities, including, but not limited to: (a) creating, owning, developing, constructing, purchasing and/or managing and otherwise fostering affordable and/or low-income and/or moderate-income housing in West Palm Beach, Florida and surrounding areas permitted under Florida law; (b) providing community and social services to the residents of such affordable housing; (c) purchasing, building, acquiring and redeveloping property for affordable housing; (d) financing affordable housing projects; and (e) making distributions for charitable purposes. ARTICLE II. OFFICES AND FISCAL YEAR Section 2.01. REGISTERED AGENT AND REGISTERED OFFICE. The initial registered agent of the Corporation is Margaret C. Perez. The location and mailing address of the initial registered office of the Corporation in the State of Florida is 3700 Georgia Avenue, West Palm Beach, FL 33401. Section 2.02. PRINCIPAL PLACE OF BUSINESS, MAILING ADDRESS AND OTHER OFFICES. The principal place of business and mailing address of the Corporation shall be located at 3700 Georgia Avenue, West Palm Beach, FL 33401. The Corporation may also have offices at such other places, within or outside of Florida, as the Board of Directors of the Corporation (the “Board of Directors”) may from time to time determine or the business of the Corporation may require. Section 2.03. FISCAL YEAR. The fiscal year of the Corporation shall end on the last day of December. 104 1178 - 2 - Active\120610355.v3 ARTICLE III. NOTICE - WAIVERS - MEETINGS GENERALLY Section 3.01. MANNER OF GIVING NOTICE. (a) General Rule. Whenever notice is required to be given to any person under the provisions of the FNPCA, the Corporation’s Articles of Incorporation (the “Articles”) or these Bylaws (these “Bylaws”), it may be given to such person, either personally, by telephone or by sending a copy thereof by first class mail, postage prepaid, by recognized national or international courier service, by facsimile with transmittal confirmation, or by electronic mail (“e-mail”) with transmittal confirmation, to his or her address (including his or her e-mail address) or telephone or facsimile number appearing on the books of the Corporation or, in the case of the sole member of the Corporation (the “Member”) or a member of the Board of Directors (each, a “Director” and collectively, the “Directors”), supplied by it, him or her to the Corporation for the purpose of notice. If the notice is sent by first class mail or recognized national or international courier service, it shall be deemed to have been given to the person entitled thereto when deposited in the United States mail or with such courier service. If the notice is sent by e-mail or facsimile transmission, it shall be deemed to have been given to the person entitled thereto upon transmittal confirmation. (b) Adjourned Meetings. When a meeting is adjourned, it shall not be necessary to give any notice of the adjourned meeting or of the business to be transacted at an adjourned meeting, other than by announcement at the meeting at which such adjournment is taken. Section 3.02. NOTICE OF MEETINGS OF THE MEMBER. (a) Notice of Annual Meeting. Notice of the annual meeting of the Member shall be given to the Member not less than five (5) days before the date of the meeting. (b) Notice of Special Meetings. Notice of a special meeting of the Member shall be given to the Member not less than two (2) days before the date of the meeting. (c) Content. Notice of a meeting of the Member shall specify the place, date and time of the meeting, the general nature of the business to be transacted at such meeting, and any other information required by any other provision of the FNPCA, the Articles or these Bylaws. Section 3.03. NOTICE OF MEETINGS OF BOARD OF DIRECTORS. (a) Notice. (1) Notice of any regular meeting of the Board of Directors shall be given to each Director not less than five (5) days before the date of the meeting. 105 1179 - 3 - Active\120610355.v3 (2) Notice of a special meeting of the Board of Directors, unless waived, shall be given to each Director not less than two (2) days prior to the day on which such meeting is to be held if such notice is in person, by e-mail or facsimile, and not less than four (4) days prior to the day on which the meeting is to be held if such notice is by first class mail or recognized national or international courier service. (b) Content. Every required notice of a meeting of the Board of Directors shall state the place, date and time of the meeting. Unless otherwise provided by the FNPCA or these Bylaws, neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board of Directors need be specified in a notice of such meeting. Section 3.04. WAIVER OF NOTICE. (a) Written Waiver. Whenever any written notice is required to be given pursuant to the provisions of the FNPCA, the Articles or these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. Neither the business to be transacted at, nor the purpose of, a meeting need be specified in the waiver of notice of such meeting. (b) Waiver by Attendance. Attendance of a person at any meeting shall constitute a waiver of notice of such meeting, except where a person attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting was not lawfully called or convened. Section 3.05. MODIFICATION OF PROPOSAL CONTAINED IN NOTICE. Whenever the language of a proposed resolution is included in a written notice of a meeting, the meeting considering the resolution may, without further notice, adopt it with such clarifying or other amendments as do not materially enlarge its original purpose. Section 3.06. EXCEPTION TO REQUIREMENT OF NOTICE. Whenever any notice or communication is required to be given to any person under the provisions of the FNPCA, the Articles or these Bylaws, or by the terms of any agreement or other instrument or as a condition precedent to taking any corporate action, and communication with such person is then unlawful, the giving of such notice or communication to such person shall not be required. Section 3.07. USE OF CONFERENCE TELEPHONE AND SIMILAR EQUIPMENT. One or more persons may participate in a meeting of the Member or a meeting of the Board of Directors, or any committee thereof, by means of conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, including, without limitation, by audio and/or audio/visual communications equipment. Participation in a meeting pursuant to Section 3.07 is permissible as long as there is a compelling reason for the person not participating in person and a Quorum (as herein defined) is otherwise physically present. Participation in a meeting pursuant to Section 3.07 hereof shall constitute presence in person at such meeting. 106 1180 - 4 - Active\120610355.v3 ARTICLE IV. MEMBERSHIP Section 4.01. MEMBERSHIP. The West Palm Beach Housing Authority (referred to above and herein as the “Member”), shall be the sole member of the Corporation. Section 4.02. MEMBERSHIP MEETINGS. (a) Annual Meetings. The annual meeting of the Member shall be held on such day and at such time and place as the Board of Directors shall designate. (b) Special Meetings. Unless otherwise prescribed by the FNPCA or by the Articles, special meetings of the Member may be held for any purpose or purposes and at any time on the call of the Chair of the Board of Directors (the “Chair”) or the President of the Corporation (the “President”), at the request in writing of a majority of the Board of Directors, or at the request in writing of the Member. Such request shall state the purpose or purposes of the proposed meeting. If the Secretary of the Corporation (the “Secretary”) shall fail or refuse to give notice of such meeting, then the notice may be given by the Officer (as such term is defined herein) making the call or the Directors or the Member making the request. (c) Place of Meetings. All meetings of the Member, whether annual or special, shall be held at the offices of the Corporation, or at such other place as may be fixed from time to time by the Board of Directors and included in the notice of such meeting. (d) Action by Unanimous Written Consent. Any action which may be taken at a meeting of the Member may be taken without a meeting and without prior notice if a consent or consents in writing setting forth the action so taken shall be signed on behalf of the Member. The written consent(s) shall be filed with the Secretary. Section 4.03. MEMBER VOTING RIGHTS. (a) Voting. The Member shall be entitled to one (1) vote upon each matter submitted to a vote at a meeting of the Member. In addition to any voting rights provided in these Bylaws, the Member shall be entitled to vote upon any matter with respect to which the FNPCA requires a vote of the Member. Unless otherwise required by these Bylaws, the manner of voting on any matter, including changes to the Articles or Bylaws, may be by voice vote, show of hands or by ballot. (b) Vote of the Member. Unless otherwise expressly provided herein, the Member may not take any action hereunder unless such action is approved by the board of directors of the Member in accordance with the bylaws of the Member. Following such action by the board of directors of the Member, the board of directors of the Member, the chairman of the board of directors of the Member, the president of the Member or any other representative designated by the board of directors of the Member may cast such vote on behalf of the Member. 107 1181 - 5 - Active\120610355.v3 (c) Fundamental Transactions. All “Fundamental Transactions” as defined in Section 5.10(b) hereof, must be approved in accordance with Section 5.10(b) hereof. Section 4.04. TRANSFER OF MEMBERSHIP. Membership in the Corporation may be transferred or assigned in accordance with Section 5.10(b) hereof. Section 4.05. ADDITION OF MEMBER(S). The Corporation may admit an additional member or additional members as long as such additional member(s) is(are) approved in accordance with Section 5.10(b) hereof. In the event such additional member(s) is(are) admitted, these Bylaws must be revised to account for more than one (1) Member. Section 4.06. ADDITIONAL MEMBERSHIP CLASSES. Additional membership classes may be established in accordance with Section 5.10(b) hereof. ARTICLE V. BOARD OF DIRECTORS Section 5.01. POWERS; STANDARD OF CARE. (a) General Rule. Unless otherwise provided by the FNPCA or these Bylaws, all powers vested by law in the Corporation shall be exercised by or under the authority of, and the business and affairs of the Corporation shall be managed under the direction of, the Board of Directors. (b) Standard of Care; Justifiable Reliance. A Director shall stand in a fiduciary relation to the Corporation and shall perform his or her duties as a Director, including duties as a member of any committee of the Board of Directors upon which the Director may serve, in good faith, in a manner the Director reasonably believes to be in the best interests of the Corporation and with such care, including reasonable inquiry, skill and diligence, as a person of ordinary prudence would use under similar circumstances. In performing his or her duties, a Director shall be entitled to rely in good faith on information, opinions, reports or statements, including financial statements and other financial data, in each case prepared or presented by any of the following: (1) One or more Officers or employees of the Corporation whom the Director reasonably believes to be reliable and competent in the matters presented; (2) Counsel, public accountants or other persons or entities as to matters which the Director reasonably believes to be within the professional or expert competence of such person or entity; and (3) A committee of the Board of Directors upon which the Director does not serve, duly designated in accordance with law, as to matters within its designated authority, which committee the Director reasonably believes to merit confidence. 108 1182 - 6 - Active\120610355.v3 A Director shall not be considered to be acting in good faith if the Director has knowledge concerning the matter in question that would cause his or her reliance to be unwarranted. (c) Consideration of Factors. In discharging the duties of their respective positions, the Board of Directors, committees of the Board of Directors and individual Directors may, in considering the best interests of the Corporation, consider the effects of any action upon communities in which offices or other establishments of the Corporation are located or in which it conducts charitable work or other work, and all other pertinent factors. The consideration of those factors shall not constitute a violation of Section 5.01(b) hereof. (d) Presumption. Absent breach of fiduciary duty, lack of good faith or self- dealing, any action taken as a Director or any failure to take any action shall be presumed to be in the best interests of the Corporation. (e) Notation of Dissent. A Director who is present (in person, by telephone, by video or by other similar means) at a meeting of the Board of Directors, or of a committee of the Board of Directors, at which action on any corporate matter is taken, shall be presumed to have assented to the action taken unless his or her dissent is entered in the minutes of the meeting or unless the Director files a written dissent to the action with the secretary of the meeting before the adjournment thereof or transmits the dissent in writing to the Secretary immediately after the adjournment of the meeting. The right to dissent shall not apply to a Director who voted in favor of the action. Nothing in Section 5.01(e) hereof shall bar a Director from asserting that minutes of the meeting incorrectly omitted his or her dissent if, promptly upon receipt of a copy of such minutes, the Director notifies the Secretary in writing of the asserted omission or inaccuracy. Section 5.02. QUALIFICATION, NUMBER AND ELECTION OF DIRECTORS. (a) Qualifications. Each Director shall be a natural person eighteen (18) years of age or older. Each Director shall be either (i) a member of the board of commissioners of the Member, (ii) an officer of the Member, or (iii) the executive director of the Member. (b) Number. The Board of Directors shall consist of not less than three (3) nor more than five (5) Directors. (c) Election of Directors. Except as otherwise provided herein, Directors shall be appointed by the Member. Section 5.03. COMPOSITION AND TERM OF OFFICE. (a) Composition. The Board of Directors shall be made up of the following: (1) Two (2) ex-officio Directors (each an “Ex-Officio Director” and collectively, the “Ex-Officio Directors”) to consist of: (i) the individual then serving as the chair of the board of commissioners of the Member and (ii) the individual then serving as the executive director of the Member; and (2) One (1) or more Director(s) appointed by the Member (each an “Appointed Director” and collectively, the “Appointed Directors”), each of whom shall be then 109 1183 - 7 - Active\120610355.v3 serving as a member of the board of commissioners of the Member or as an officer of the Member. The number of Appointed Directors shall be determined by the Member at their annual meeting which shall consist of not less than three (3) nor more than five (5) Appointed Directors. The number of Appointed Directors shall at all times be an odd number. In elections for the Appointed Directors, voting need not be by ballot, except upon demand made by a person entitled to vote at the election and before the voting begins. The candidates receiving the highest number of votes cast shall be elected. Unless otherwise expressly provided herein, the Ex-Officio Directors and Appointed Director(s) shall be included in any reference to the “Board of Directors” or the “Directors”. (b) Initial Directors. The initial Directors shall be those persons named as Directors by the Incorporator upon the incorporation of the Corporation (the “Initial Directors”). (c) Term of Office. Except as otherwise provided herein, the term of office for each Director shall be as follows: (1) Ex-Officio Directors. An Ex-Officio Director shall serve as a Director until he or she no longer holds the position listed in Section 5.03(a)(1) or until his or her earlier death, resignation or removal. The term of office for each Ex-Officio Director shall begin at such time he or she is elected into the position listed in Section 5.03(a)(1). (2) Appointed Directors. An Appointed Director shall serve as a Director for one (1) year or until his or her earlier death, resignation or removal. The term of office for each Appointed Director shall begin at the applicable meeting of the Member at which such Director is appointed by the Member. Each Appointed Director shall hold office until the expiration of the term for which he or she is appointed and until a successor shall be appointed and shall qualify or until his or her earlier death, resignation or removal. In the event an Appointed Director no longer serves as a member of the board of commissioners of the Member or as an officer of the Member, as applicable, he or she will be treated as having resigned as a Director, effective as of such individual’s last day serving in said position. (3) A decrease in the number of Directors shall not have the effect of shortening the term of any incumbent Director. (4) There shall be no limitation on the number of terms of office for the Directors. (d) Resignation. Any Director may resign at any time by giving written notice to the Board of Directors. The resignation shall take effect on the later of: (i) the date the notice is received or (ii) at any other time specified in the notice. Unless otherwise specified in the notice, the resignation need not be accepted to be effective. Any resignation shall be without prejudice to any rights of the Corporation under any contract to which the Director is a party. Section 5.04. VACANCIES. 110 1184 - 8 - Active\120610355.v3 (a) Ex-Officio Director. If a vacancy occurs in the office of an Ex- Officio Director for any reason other than removal pursuant to Section 5.05 hereof, the office shall remain vacant until a person assumes the position of chair of the board of commissioners of the Member or executive director of the Member, as applicable, and such person desires to serve as a Director. In the event a vacancy occurs in the office of an Ex-Officio Director as a result of a removal pursuant to Section 5.05 hereof, the office shall remain vacant unless and until (i) the Member reappoints its chair of the board of commissioners or executive director, as applicable, as an Ex-Officio Director or (ii) a new person assumes the position of chair of the board of commissioners of the Member or executive director of the Member, as applicable, and such person desires to serve as a Director. (b) Appointed Directors. If a vacancy occurs in the office of an Appointed Director for any reason, including an increase in the number of Appointed Directors, an individual shall be appointed to the vacant position by the Member, and such successor Appointed Director shall hold office for the unexpired term for which the vacancy occurred, if applicable, and until a successor shall be appointed or until his or her earlier death, resignation or removal. Section 5.05. REMOVAL OF DIRECTORS. A Director may be removed from office at any time, with or without cause, in accordance with Section 5.10(b) hereof, provided that written notice of the intention to consider the removal of such Director has been included in the notice of the meeting at which such removal will be considered and to the Director being considered for expulsion. Section 5.06. PLACE OF MEETINGS. Meetings of the Board of Directors may be held at such place, within or outside of Florida, as the Board of Directors may from time to time designate, or as may be designated in the notice of the meeting. If the Board of Directors has not so designated the location of the meeting, the meeting shall be held at the principal office of the Corporation. Section 5.07. ORGANIZATION OF MEETINGS. The Chair shall preside at all meetings of the Board of Directors. If no individual is currently serving as the Chair, then the members of the Board of Directors shall appoint a person to serve as the Chair. If there is a Chair but he or she is unable to attend a Board of Directors meeting, then the members of the Board of Directors shall appoint a person to preside at that Board of Directors meeting. The Secretary, or, in the absence of the Secretary, any person appointed by the Chair or the person presiding at that particular meeting, shall act as the Secretary of that meeting. Section 5.08. ANNUAL MEETING AND REGULAR MEETINGS. The annual meeting of the Board of Directors shall be held on such day and at such time and place as the Board of Directors shall designate. Regular meetings of the Board of Directors shall be held at such places, dates and times as shall be designated from time to time by resolution of the Board of Directors. Section 5.09. SPECIAL MEETINGS. Special meetings of the Board of Directors may be held at any time on the call of the Chair or the President or at the request in writing of at least two (2) Directors. Any such meeting may be held at such place as the Board of Directors may 111 1185 - 9 - Active\120610355.v3 fix from time to time or as may be specified or fixed in such notice or waiver thereof. Any meeting of the Board of Directors shall be a legal meeting without any notice thereof having been given, if all the Directors shall be present thereat, and no notice of a meeting shall be required to be given to any Director who shall attend such meeting. If the Secretary shall fail or refuse to give such notice, then the notice may be given by the Officer making the call or any one of the Directors making the request. Section 5.10. QUORUM OF AND ACTION BY DIRECTORS. (a) General Rule. A majority of the Directors in office must be present (in person, by telephone, by video or by other similar means) at a duly called meeting of the Board of Directors in order for there to be a quorum for the transaction of business. Except as otherwise provided herein, the acts of a majority of the Directors eligible to vote and present at a duly called meeting of the Board of Directors where a quorum is present shall be the acts of the Board of Directors. (b) Fundamental Transactions. Any “Fundamental Transaction” (as defined herein) shall require (i) the affirmative vote of two-thirds (2/3) or more of the Directors then in office and eligible to vote and the affirmative vote of the Member. A “Fundamental Transaction” shall include the following: (1) any amendment to, or the repeal and subsequent adoption of, any provision of the Articles or Bylaws; (2) the increase or decrease in the authorized number of members of the Board of Directors; (3) the removal of a member of the Board of Directors; (4) the transfer or assignment of the Member’s membership interest or a portion of the Member’s membership interest; (5) the adoption of any plan for the merger, consolidation or reorganization of the Corporation; (6) the adoption of any plan for the division or conversion of the Corporation; (7) the sale of all or substantially all of the assets of the Corporation; (8) the formation of a subsidiary of the Corporation; (9) the adoption of any plan for the dissolution or liquidation of the Corporation; (10) the creation of an additional membership class of the Corporation; 112 1186 - 10 - Active\120610355.v3 (11) the admission of an additional member or additional members of the Corporation; (12) the approval, modification or termination of the Signatory and Disbursement Policy of the Corporation (the “Signatory and Disbursement Policy”); (13) the establishment of, increase in or decrease in, compensation for any management personnel of the Corporation; and (14) a special assessment of dues upon the Member. (c) Voting Rights. Each Director shall be entitled to one (1) vote. (d) Action by Unanimous Written Consent. Any action which may be taken at a meeting of the Directors may be taken without a meeting and without prior notice if a consent or consents in writing setting forth the action so taken shall be signed by all of the Directors then in office and shall be filed with the Secretary. (e) Absence of Quorum. In the absence of a quorum, a majority of the Directors present (in person, by telephone, by video or by other similar means) may adjourn the meeting from time to time until a quorum shall be present. Notice of any adjourned meeting need not be given, except that notice shall be given to all Directors if the adjournment is for more than thirty (30) days. Section 5.11. COMPENSATION. No Director shall receive compensation for services performed in his or her capacity as a member of the Board of Directors. A Director may be reimbursed by the Corporation, at the Board of Directors’ discretion, for reasonable expenses incurred by such Director, including any expenses incurred by such Director in connection with such Director’s attendance at regular or special meetings of the Board of Directors or committees thereof. Section 5.12. INVITED GUESTS. The Board of Directors shall be permitted to invite individuals to observe any regular or special meetings of the Board of Directors or committees thereof; provided, however, that such individuals must leave any such meeting if and when directed by the Board of Directors or the members of the applicable committee thereof. Section 5.13. ROBERTS’ RULES OF ORDER. The rules contained in the current edition of Roberts’ Rules of Order, Newly Revised shall govern Board of Directors meetings in all cases to which they are applicable, unless such rules are inconsistent with these Bylaws and/or any special rules of order the Board of Directors may duly adopt. ARTICLE VI. COMMITTEES Section 6.01. COMMITTEES. 113 1187 - 11 - Active\120610355.v3 (a) Establishment. The Board of Directors may establish one (1) or more committees to consist of one (1) or more Directors and/or such other individuals who may be interested in serving on such committee(s). (b) Powers. Each committee shall have such authority as delegated by resolution of the Board of Directors. Notwithstanding any other provision herein to the contrary, no committee shall have any power or authority: (1) to act on matters committed by resolution of the Board of Directors to another committee of the Board of Directors; or (2) to approve Fundamental Transactions. (c) Committee Quorum and Action. Except as otherwise provided in the resolution of the Board of Directors establishing any committee, a majority of the members of such committee shall be necessary to constitute a quorum for the transaction of business, and the acts of a majority of the committee members present at a meeting at which a quorum is present shall be the acts of such committee. (d) Alternate Committee Members. The Board of Directors may designate one or more individuals as alternate members of any committee who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a member or alternate member of a committee, the regular or alternate member or members thereof present at any meeting and not disqualified from voting, whether or not constituting a quorum, may unanimously appoint another individual to act at the meeting in the place of the absent or disqualified member or alternate member. (e) Term. Each committee of the Board of Directors shall serve at the pleasure of the Board of Directors. (f) Meetings. Regular and special meetings of a committee shall be held at such time and place, and in such manner as the members of such committee shall determine. (g) Notice of Committee Meetings. Notice of a regular meeting of any committee under the Board of Directors need not be given, except by the adoption of a resolution by such committee establishing the places, dates, and times of regular meetings. Notice of a special meeting of any committee under the Board of Directors shall be given to each member of such committee by telephone or in writing (including, without limitation, by facsimile or e-mail) at least twenty-four (24) hours before the time at which the meeting is to be held. Every required notice of a meeting shall state the place, date and time of the meeting. Unless otherwise provided by the FNPCA, neither the business to be transacted at, nor the purpose of, any special meeting need be specified in a notice of such meeting. (h) Resignation. Any committee member may resign at any time by giving written notice to the chair of that particular committee. The resignation shall take effect on the later of (i) the date the notice is received or (ii) at any other time specified in the notice. Unless otherwise specified in the notice, the resignation need not be accepted to be effective. Any 114 1188 - 12 - Active\120610355.v3 resignation shall be without prejudice to any rights of the Corporation under any contract to which the committee member is a party. (i) Vacancies. If a vacancy occurs in the office of a committee member for any reason, including an increase in the number of committee members of a particular committee, such vacancy shall be filled pursuant to the rules of that particular committee, and the successor committee member shall hold office for the unexpired term for which the vacancy occurred, if applicable. (j) Removal of Committee Members. A committee member may be removed from office at any time, with or without cause, (i) upon the affirmative vote of two-thirds (2/3) or more of the other members of such committee then in office and voting, or (ii) by the Board of Directors, provided that written notice of the intention to consider the removal of such committee member has been included in the notice of the meeting at which such removal will be considered. (k) Voting Rights. Each committee member shall be entitled to one (1) vote. (l) Action by Unanimous Written Consent. Any action which may be taken at a meeting of a committee may be taken without a meeting and without prior notice if a consent or consents in writing setting forth the action so taken shall be signed by all of the committee members then in office and shall be filed with the Secretary. (m) Roberts’ Rules of Order. The rules contained in the current edition of Roberts’ Rules of Order, Newly Revised shall govern committee meetings in all cases to which they are applicable, unless such rules are inconsistent with these Bylaws and/or any special rules of order that a committee may duly adopt. (n) Compensation. No committee member shall receive compensation for services performed in his or her capacity as a member of any committee of the Board of Directors. A committee member may be reimbursed by the Corporation, at the Board of Directors’ discretion, for reasonable expenses incurred by such committee member, including any expenses incurred by such committee member in connection with such committee member’s attendance at regular or special meetings of the Board of Directors or committees thereof. ARTICLE VII. OFFICERS Section 7.01. OFFICERS GENERALLY. (a) Number, Qualifications and Designation. The officers of the Corporation shall be the President, the Secretary, a treasurer, and such other officers as may be designated in accordance with the provisions of this Article VII. In addition to the aforementioned officers of the Corporation, the Board of Directors shall elect the Chair from among the members of the Board of Directors. The Chair shall be an officer of the Board of Directors. The officers of the Corporation and the officers of the Board of Directors shall be referred to individually as an 115 1189 - 13 - Active\120610355.v3 “Officer” and collectively, as the “Officers”. The Officers shall be natural persons eighteen (18) years of age or older. Any number of offices may be held by the same person. (b) Resignation. Any Officer may resign at any time by giving written notice to the Board of Directors. The resignation shall take effect on the later of (i) the date the notice is received or (ii) at any other time specified in the notice. Unless otherwise specified in the notice, the resignation need not be accepted to be effective. Any resignation shall be without prejudice to any rights of the Corporation under any contract to which the Officer is a party. (c) Bonding. The Corporation may secure the fidelity of any or all of its Officers by bond or otherwise. Alternatively, or in addition thereto, the Corporation may obtain fiduciary insurance on behalf of its Officers. (d) Standard of Care. An Officer shall perform his or her duties as an Officer in good faith, in a manner he or she reasonably believes to be in the best interests of the Corporation and with such care, including reasonable inquiry, skill and diligence, as a person of ordinary prudence would use under similar circumstances. (e) Compensation. No Officer shall receive compensation for services performed in his or her capacity as an Officer. An Officer may be reimbursed by the Corporation, at the Board of Directors’ discretion, for reasonable expenses incurred by such Officer, including any expenses incurred by such Officer in connection with such Officer’s attendance at regular or special meetings of the Officers. Section 7.02. ELECTION AND TERM OF OFFICE. The Officers, except those elected by delegated authority pursuant to Section 7.03, shall be elected by the Board of Directors, and each Officer shall hold office for a term of one (1) year and until a successor shall be selected and shall qualify, or until his or her earlier death, resignation or removal. There shall be no limitations on the number of terms of office for the Officers. Section 7.03. SUBORDINATE OFFICERS, COMMITTEES AND AGENTS. The Board of Directors may from time to time elect such other Officers and appoint such committees or other agents as the business of the Corporation may require, including one or more assistant vice presidents, one or more assistant secretaries and one or more assistant treasurers, each of whom shall hold office for such period, have such authority, and perform such duties as are provided in these Bylaws or as the Board of Directors may from time to time determine. The Board of Directors may delegate to any Officer or committee the power to elect subordinate Officers and to retain or appoint other agents or committees thereof, and to prescribe the authority and duties of such subordinate Officers, committees, or other agents. Section 7.04. NO CONTRACT RIGHTS. Election or appointment of an Officer or agent shall not of itself create any contract rights in the Officer or agent. Section 7.05. REMOVAL OF OFFICERS AND AGENTS. Any Officer or any agent of the Corporation may be removed from office at any time, with or without cause, by (i) the Board of Directors; or (ii) the affirmative vote of the Member, provided that written notice of the intention to consider the removal of such Officer or agent has been included in the notice of 116 1190 - 14 - Active\120610355.v3 the meeting at which such removal will be considered. Any such removal shall be without prejudice to the contract rights, if any, of any person so removed. Section 7.06. VACANCIES. A vacancy in any office because of death, resignation, removal, disqualification, or any other cause, shall be filled by the Board of Directors, or by the Officer or committee to which the power to fill such office has been delegated pursuant to Section 7.03 hereof, as the case may be, and if the office is one for which these Bylaws prescribe a term, shall be filled for the unexpired portion of the term, and until a successor shall be appointed or until his or her earlier death, resignation or removal. Section 7.07. AUTHORITY. All Officers, as between themselves and the Corporation, shall respectively have such authority and perform such duties in the management of the property and affairs of the Corporation as are provided in these Bylaws or may be provided by or pursuant to resolutions, consents or orders of the Board of Directors. Section 7.08. THE CHAIR. The Chair shall preside at all meetings of the Board of Directors. The Chair shall have such other duties and responsibilities as shall be delegated to him or her by these Bylaws and by the Board of Directors from time to time. Section 7.09. THE PRESIDENT. The President shall have general supervision over the business and operations of the Corporation, subject, however, to the control of the Board of Directors. The President shall perform all duties incident to the office of President, and such other duties as from time to time may be assigned by the Board of Directors. Section 7.10. THE VICE PRESIDENT. At any time when the President is unable to act, the Vice President of the Corporation (the “Vice President”), if one has been elected/appointed, shall, subject to the limitations set forth in these Bylaws, (a) perform all duties of the President, and (b) have all authority given to the President pursuant to Section 7.09 of these Bylaws. The Vice President shall have such other duties and authority as from time to time may be assigned by the Board of Directors. Section 7.11. THE SECRETARY. The Secretary shall attend all meetings of the Board of Directors (or committees of the Board of Directors) and shall record all votes of the Directors (or committees persons) and the minutes of the meetings of the Board of Directors (or committees) in a book or books to be kept for that purpose; shall see that notices are given and records and reports properly kept and filed by the Corporation as required by law; shall be the custodian of the seal of the Corporation and see that it is affixed to all documents which are to be executed on behalf of the Corporation under its seal; and, in general, shall perform all duties incident to the office of Secretary, and such other duties as may from time to time be assigned by the Board of Directors or the President. In addition, the Secretary shall annually present a report to the Board of Directors no later than March 31 of each year summarizing all resolutions of the Board of Directors during the preceding fiscal year and certifying the accuracy of the resolutions of the Corporation for such year. Section 7.12. THE TREASURER. The Treasurer of the Corporation (the “Treasurer”) shall have or provide for the custody of the funds or other property of the Corporation; shall collect and receive or provide for the collection and receipt of moneys earned 117 1191 - 15 - Active\120610355.v3 by or in any manner due to or received by the Corporation; shall deposit all funds in his or her custody as the Treasurer in such banks or other places of deposit as the Treasurer or the Board of Directors may from time to time designate; shall, whenever so required by the Board of Directors, render an account showing all transactions as the Treasurer and the financial condition of the Corporation; and, in general, shall discharge such other duties as may from time to time be assigned by the Board of Directors or the President. ARTICLE VIII. LIMITATION OF DIRECTORS’ AND OFFICERS’ LIABILITIES AND INDEMNIFICATION Section 8.01. LIMITATION OF LIABILITY. To the fullest extent permitted by the FNPCA, a Director, Officer or employee of the Corporation shall not be personally liable to the Corporation, or others for monetary damages for any action taken or any failure to take any action, unless the Director or Officer or employee of the Corporation has breached or failed to perform the duties of his office and such breach or failure constitutes self-dealing, willful misconduct or recklessness. The provisions of Section 8.01 hereof shall not apply with respect to the responsibility or liability of a Director or Officer or employee of the Corporation under any criminal statute or the liability of a Director or Officer or employee of the Corporation for the payment of taxes pursuant to local, state or federal law. Section 8.02. INDEMNIFICATION. (a) Indemnification. The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was a Director or Officer or an employee, committee member, secondee, contractor, representative or agent of the Corporation, or is or was serving, at the request of the Corporation, as a director or officer or as an employee, committee member, secondee, contractor, representative or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), amounts paid in settlement, judgments, and fines actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided, however that no indemnification shall be made in any case where the act or failure to act giving rise to the claim for indemnification is determined by a court to have constituted self-dealing, willful misconduct or recklessness. (b) Advance of Expenses. Expenses (including attorneys’ fees) incurred in defending a civil or criminal action, suit, or proceeding shall be paid by the Corporation in advance of the final disposition of such action, suit, or proceeding, upon receipt of an undertaking by or on behalf of the Director, Officer, employee, committee member, secondee, contractor, representative or agent to repay such amount if it shall be ultimately determined that he or she is not entitled to be indemnified by the Corporation as authorized in Article VIII hereof. 118 1192 - 16 - Active\120610355.v3 (c) Indemnification Not Exclusive. The indemnification and advancement of expenses provided by Article VIII hereof shall not be deemed exclusive of any other right to which persons seeking indemnification and advancement of expenses may be entitled under any agreement, vote of the Board of Directors, or otherwise, both as to actions in such persons’ official capacity and as to their actions in another capacity while holding office, and shall continue as to a person who has ceased to be a Director, Officer, employee, committee member, secondee, contractor, representative or agent and shall inure to the benefit of the heirs, executors, and administrators of any such person, provided, however, that such indemnification obligations shall in no event create rights in any third parties, provided, however, that such indemnification obligations shall in no event create rights in any third parties. (d) Insurance, Contracts, Security. The Corporation may purchase and maintain insurance on behalf of any person, may enter into contracts of indemnification with any person, and may create a fund of any nature which may, but need not be, under the control of a trustee for the benefit of any person, and may otherwise secure, in any manner, its obligations with respect to indemnification and advancement of expenses, whether arising under Article VIII hereof or otherwise, whether or not the Corporation would have the power to indemnify such person against such liability under the provisions of Article VIII hereof. Section 8.03. EFFECT OF AMENDMENT. Any amendment, repeal or modification of Article VIII hereof shall be prospective only, and shall not adversely affect any limitation on the personal liability of a Director, Officer or employee of the Corporation or any right of any person to indemnification from the Corporation with respect to any action or failure to take any action occurring prior to the time of such amendment, repeal or modification. ARTICLE IX. MISCELLANEOUS Section 9.01. SEAL. The corporate seal shall have inscribed thereon the name of the Corporation, the year of its organization, and the words “Corporate Seal, Florida.” Except as otherwise required by the FNPCA, the affixation of the corporate seal shall not be necessary to the valid execution, assignment or endorsement by the Corporation of any instrument in writing. Section 9.02. INTERESTED DIRECTORS OR OFFICERS; QUORUM; SPECIAL RULE. (a) General Rule. A contract or transaction between the Corporation and one or more of its Directors or Officers or between the Corporation and another corporation, partnership, association, or other organization in which one or more of its Directors or Officers are trustees, directors, or officers, or have a financial interest, shall not be void or voidable solely for that reason, or solely because the Director or Officer is present at or participates in the meeting of the Board of Directors and/or the Member which authorizes the contract or transaction, if: 119 1193 - 17 - Active\120610355.v3 (1) the material facts as to the relationship or interest and as to the contract or transaction are disclosed or are known to the Board of Directors, and the disinterested members of the Board of Directors authorize the contract or transaction (in accordance with Section 5.10(a) or (b)(i), as applicable), even though the disinterested Directors are less than a quorum; provided, however, that such contract or transaction may not be authorized under this Section 9.02(a)(1) by less than two (2) Directors; or (2) the material facts as to the relationship or interest and as to the contract or transaction are disclosed or are known to the Member, and the contract or transaction is specifically approved upon the affirmative vote of the Member (in accordance with Section 5.10(b)(i) or (ii), as applicable); or (3) the contract or transaction is fair and reasonable as to the Corporation as of the time it is authorized, approved or ratified by the Board of Directors and/or Member (in accordance with Section 5.10(a) or (b), as applicable). (b) Quorum. Interested Directors may be counted in determining the presence of a quorum at a meeting of the Board of Directors which authorizes a contract or transaction specified in Section 9.02(a) hereof. (c) Special Rule. If the Corporation wishes to establish the “Presumption of Reasonableness” in connection with Code Section 4958 and the regulations thereunder, a contract, transaction or arrangement between the Corporation and one or more disqualified persons (as defined in Code Section 4958) shall be: (i) approved by a vote of only those Directors (or the Member, as applicable) unrelated to and not subject to the control of the disqualified person(s) involved in the contract, transaction or arrangement (provided that such disqualified person(s) may respond to questions from such Directors (or the Member, as applicable) but otherwise must recuse himself or herself from such vote and any portion of the meetings or discussions of such Directors regarding such contract, transaction or arrangement); (ii) based on appropriate data as to the comparability of such contract, transaction or arrangement with similar contracts, transactions or arrangements; and (iii) documented in the Corporation’s minutes as to the basis the disinterested Board of Directors (or the Member, as applicable) relied upon to make its determination regarding such contract, transaction or arrangement. Section 9.03. DEPOSITS. All funds of the Corporation shall be deposited from time to time to the credit of the Corporation in such banks, trust companies or other depositories as the Treasurer or the Board of Directors may approve or designate. Section 9.04. SIGNATORY AND DISBURSEMENT AUTHORITY. Unless otherwise set forth in the Signatory and Disbursement Policy, the Member, a Director, an Officer and/or an employee or representative of the Corporation shall have no authority, on behalf of and/or in the name of the Corporation, to: (a) sign, execute, acknowledge, modify and/or terminate any tax document, deed, mortgage, contract, employment agreement, grant agreement, lease agreement, license agreement, plan of merger, agreement of sale, letter of intent or other agreement or instrument; (b) incur any debt, obligation, guaranty or lien; (c) sign, execute and/or approve any check, transfer, withdrawal, disbursement, note, bill of exchange, purchase, gift or other order in writing; and/or (d) sign, execute and/or file any government filing. 120 1194 - 18 - Active\120610355.v3 Section 9.05. CORPORATE RECORDS. The Corporation shall keep appropriate, complete and accurate books or records of account in accordance with generally accepted accounting principles consistently applied (except that the financial records of the Corporation may be kept on the cash receipts and disbursements method if permitted by law and deemed appropriate by the Board of Directors), minutes of the proceedings of the Directors, and a copy of these Bylaws, including all amendments thereto to date, certified by the Secretary. All such records shall be kept at the registered office of the Corporation in Florida or at its principal place of business (if different). Any books, minutes or other records may be in written form or any other form capable of being converted into written form within a reasonable time. The books, accounts, and records of the Corporation shall be open to inspection by the Member and any Director at all times. Section 9.06. ANNUAL REPORT. (a) Contents. The President and Treasurer shall present a written report at the annual meeting of the Board of Directors and the Board of Directors shall present a written report at the annual meeting of the Member, showing in appropriate detail the following: (1) The assets and liabilities, including the trust funds, of the Corporation as of the end of the fiscal year immediately preceding the date of the report. (2) The principal changes in assets and liabilities, including trust funds, during the year immediately preceding the date of the report. (3) The revenue or receipts of the Corporation, both unrestricted and restricted to particular purposes, for the year immediately preceding the date of the report, including separate data with respect to each trust fund held by or for the Corporation. (4) The expenses or disbursements of the Corporation, for both general and restricted purposes, during the year immediately preceding the date of the report, including separate data with respect to each trust fund held by or for the Corporation. (b) Place of Filing. The annual report of the President and Treasurer shall be filed with the minutes of the meetings of the Board of Directors. The annual report of the Board of Directors shall be filed with the minutes of the meetings of the Member. Section 9.07. AMENDMENT OF BYLAWS. These Bylaws may be amended or repealed in accordance with Section 5.10(b) hereof. Any change in these Bylaws shall take effect when adopted, unless otherwise provided in the resolution effecting the change. ARTICLE X. CODE SECTION 501(c)(3) PROVISIONS Section 10.01. LIMITATION ON ACTIVITIES. Except as otherwise provided herein, no substantial part of the activities of the Corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation. The Corporation shall not participate in, or 121 1195 - 19 - Active\120610355.v3 intervene in (including the publishing or distribution of statements), any political campaign on behalf of, or in opposition to, any candidate for public office. Further, notwithstanding any other provision herein to the contrary, the Corporation shall not carry on any activities not permitted to be carried on (i) by an organization exempt from federal income tax under Code Section 501(a) and described in Code Section 501(c)(3); or (ii) by an organization contributions to which are deductible under Code Section 170(c)(2). Section 10.02. PROHIBITION AGAINST PRIVATE INUREMENT. No part of the net earnings of the Corporation shall inure to the benefit of, or be distributable to its Directors, Officers or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation for services rendered, and goods received, and to make payments and distributions in furtherance of the purposes of the Corporation. Section 10.03. PRIVATE FOUNDATION REQUIREMENTS AND RESTRICTIONS. Notwithstanding any other provision herein to the contrary, if the Corporation is subject, or ever becomes subject, to the private foundation rules of the Code, then the Corporation shall: (i) distribute its income for said period at such time and manner as not to subject it to tax under Code Section 4942; (ii) not engage in any act of self-dealing as defined in Code Section 4941(d); (iii) not retain any excess business holdings as defined in Code Section 4943(c); (iv) not make any investments in such manner as to subject the organization to tax under Code Section 4944; and (v) not make any taxable expenditure as defined in Code Section 4945(d). 122 1196 - 20 - Active\120610355.v3 ARTICLE XI. DISSOLUTION AND LIQUIDATION Section 11.01. DISSOLUTION AND LIQUIDATION. Upon the dissolution of the Corporation, the Board of Directors, after paying or making provisions for the payment of all of the liabilities and obligations of the Corporation, shall distribute all of the assets of the Corporation to the Member, provided that the Member qualifies at such time as a Qualified Organization (as defined below). A “Qualified Organization” is an organization exempt from federal income tax under Code Section 501(a) and described in Code Section 501(c)(3), an organization described in Code Section 170(c)(1) or a government instrumentality described in Code Section 115. In the event that the Member does not exist at such time or fails to qualify at such time as a Qualified Organization, the Board of Directors shall distribute the assets of the Corporation to such organization or organizations organized and operated exclusively for charitable, religious, educational, literary and/or scientific purposes as shall at the time qualify as a Qualified Organization or Qualified Organizations, as the Board of Directors shall determine, or to the federal government or a state or local government for a public purpose. No portion of the assets shall inure to the benefit of the Member, any Director, any Officer, any other private person or any enterprise organized for profit. 123 1197 - 21 - Active\120610355.v3 Signatory and Disbursement Policy Purpose The purpose of this Signatory and Disbursement Policy of Magnolia Affordable Development, Inc. (the “Corporation”) (this “Policy”), is to expedite payments to the Corporation’s vendors, partners, and beneficiaries; to ensure the proper accrual and/or payment of the expenses and liabilities of the Corporation; to ensure significant purchases are included in the Corporation’s financial plans; and to set forth the agents of the Corporation that shall have the power to sign and execute contracts, checks, and other documents and thereby bind the Corporation. Scope This Policy applies to all directors, officers, employees and other agents of the Corporation (“Covered Persons”). It is the responsibility of all Covered Persons to comply with this Policy. Pursuant to Section 5.10(b) of the Corporation’s bylaws (the “Bylaws”), the board of directors of the Corporation (the “Board of Directors”) is responsible for setting and changing the authorization limits set forth in this Policy. Contracts and Agreements The signing, execution, acknowledgment, approval, modification or termination of any tax document, deed, mortgage, contract, employment agreement, grant agreement, lease agreement, license agreement, plan of merger, agreement of sale, letter of intent or other agreement or instrument to which the Corporation is a party (each, an “Agreement”), or a series of related Agreements, shall not be effective unless the Agreement(s) is (are) signed and/or approved by the parties as set forth in Table 1, as applicable. Only the signature and/or approval of the required parties listed in Table 1, as applicable, shall act to bind the Corporation. All authorization limits are listed in US Dollars and represent the total value of the Agreement or related Agreements or the total value of the assets and/or liabilities of the Corporation affected by the Agreement or related Agreements, as applicable. Table 1: Total Value of Agreement(s) Signature Required Approval Required $50,000 and up Any Covered Person designated by the Board of Directors Affirmative vote of two-thirds (2/3) or more of the members of the Board of Directors (the “Directors”) then in office and eligible to vote and the affirmative vote of the member of the Corporation (the “Member”), or Affirmative vote of the Member $10,000 to $49,999 Any Covered Person designated by the Board of Directors Affirmative vote of a majority or more of the Directors who are present 1 at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote 1 For the purposes of this Policy, the term “present” when used in relation to a Director shall mean those Directors who are present in person, by telephone, by video or by other similar means at a meeting of the Board of Directors. 124 1198 - 22 - Active\120610355.v3 $2,500 to $9,999 President of the Corporation, or Any Covered Person designated by the Board of Directors No Board of Directors approval is required Affirmative vote of a majority or more of the Directors who are present at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote Up to $2,499 Any Officer 2 or employee of the Corporation No Board of Directors approval is required Incurrence of Debt The incurrence of any debt, obligation, guaranty or lien (each, an “Obligation”), or series of related Obligations, shall not be effective unless the Obligation(s) is (are) signed and/or approved by the parties as set forth in Table 2, as applicable. Only the signature and/or approval of the required parties listed in Table 2, as applicable, shall act to bind the Corporation. All authorization limits are listed in US Dollars and represent the total value of the Obligation or related Obligations or the total value of the assets and/or liabilities of the Corporation affected by the Obligation or related Obligations, as applicable. Table 2: Total Value of Obligation(s) Signature Required Approval Required $50,000 and up Any Covered Person designated by the Board of Directors Affirmative vote of two-thirds (2/3) or more of the Directors then in office and eligible to vote and the affirmative vote of the Member, or Affirmative vote of the Member $10,000 to $49,999 Any Covered Person designated by the Board of Directors Affirmative vote of a majority or more of the Directors who are present at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote $2,500 to $9,999 President of the Corporation, or Any Covered Person designated by the Board of Directors No Board of Directors approval is required Affirmative vote of a majority or more of the Directors who are present at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote Up to $2,499 Any Officer or employee of the Corporation No Board of Directors approval is required Disbursement Authorization Limits The signing, execution or approval of any check, transfer, withdrawal, disbursement, note, bill of exchange, purchase, gift or other instrument (each, a “Disbursement”), or related series of Disbursements, shall not be effective unless the Disbursement(s) is (are) signed and/or approved by the parties as set forth in Table 3, as applicable. Only the signature and/or approval of the 2 For the purposes of this Policy, the term “Officer” shall mean an officer of the Corporation and the chair of the Board of Directors. 125 1199 - 23 - Active\120610355.v3 required parties listed in Table 3, as applicable, shall act to bind the Corporation. All authorization limits are listed in US Dollars and represent the total value of the Disbursement or related Disbursements or the total value of the assets and/or liabilities of the Corporation affected by the Disbursement or related Disbursements, as applicable. Table 3: Total Value of Disbursement(s) Signature Required Approval Required $50,000 and up Any Covered Person designated by the Board of Directors Affirmative vote of two-thirds (2/3) or more of the Directors then in office and eligible to vote and the affirmative vote of the Member, or Affirmative vote of the Member $10,000 to $49,999 Any Covered Person designated by the Board of Directors Affirmative vote of a majority or more of the Directors who are present at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote $2,500 to $9,999 President of the Corporation, or Any Covered Person designated by the Board of Directors No Board of Directors approval is required Affirmative vote of a majority or more of the Directors who are present at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote Up to $2,499 Any Officer or employee of the Corporation No Board of Directors approval is required Government Filings The preparation, execution or filing of any filing, form or document (each a “Document”) with any federal, state or local government agency, government unit, government entity, government- affiliated department, federal or state court, district justice or other local court, tax collector, state, political subdivision or integral part of a state or political subdivision, including but not limited to, the Internal Revenue Service, the Department of State, the Department of Revenue, the Agency for Workplace Innovations, the Division of Worker’s Compensation and/or the Department of Agriculture and Consumer Services, shall not be effective unless the Documents(s) is (are) signed and approved by the parties as set forth in Table 4, as applicable. Only the signature and/or approval of the required parties listed in Table 4, as applicable, shall act to bind the Corporation. The required signature and/or approval shall be determined by the nature of the underlying transaction that necessitates the preparation, execution or filing of the Document. Table 4: Underlying Transaction Signature Required Approval Required A “Fundamental Transaction” as that term is defined in Section 5.10(b) of the Bylaws Any Covered Person designated by the Board of Directors Affirmative vote of two-thirds (2/3) or more of the Directors then in office and eligible to vote and the affirmative vote of the Member, or 126 1200 - 24 - Active\120610355.v3 Affirmative vote of the Member Any transaction (other than a Fundamental Transaction) that requires the approval of the Board of Directors Any Covered Person designated by the Board of Directors Affirmative vote of a majority or more of the Directors who are present at a duly called meeting of the Board of Directors where a quorum exists and who are eligible to vote Any other transaction President of the Corporation No Board of Directors approval is required 127 1201 West Palm Beach Housing Authority ▪ Board of Commissioners – 2025 ▪ Organization Chart ▪ Property Management Experience City View Tab 4 Property Management Information 128 1202 BOARD OF COMMISSIONERS – 2025 Chairperson: Denise Smith-Barnes P.O. Box 1173 West Palm Beach, FL 33402 Tel: 561-236-4818 DSmithBarnes.wpbha@gmail.com dsmithhayl@aol.com Term Expires: 4/3/2025 Commissioner: Vice Chair Mr. Larry D. Brown 1443 Palm Beach Lakes Blvd. West Palm Beach, FL 33401 Cell: 561-601-9517 Tel: 561-655-5007 Lbrown.wpbha@gmail.com LDB572bramhall@aol.com Term Expires: 11/4/2027 Commissioner: Tanzanika Lillard 2119 Ware Drive West Palm Beach, FL 33409 Tel: 561-294-6905 Work: 561-649-6806 TanzanikaLillard@gmail.com Tlillard.wpbha@gmail.com Term Expires: 01/04/2029 Commissioner: Christopher Chase 801 S. Olive Avenue #1502 West Palm Beach, FL 33401 Cell: 203-515-0150 Other: 561-838-5195 Cchase424@gmail.com Term Expires: 2/5/2029 Commissioner: Yolanda Wilson 1392 Summit Pines Blvd #643 West Palm Beach, FL 33415 Ywilson21@yahoo.com Cell: 561-853-7378 Term Expires: 6/8/2025 Commissioner: Malcolm Joy 300 S. Australian Avenue # 1503 West Palm Beach, FL 33401 Malcolmjoy@icloud.com Cell: 508-423-9800 Term Expires: 2/1/2026 Commissioner: Suzanne Turner 2811 Village Blvd #301 West Palm Beach, FL 33409 Suzturner29@gmail.com Cell: 561-309-5946 Term Expires: 5/7/2028 Board Counsel: Elaine James, Esq. P.O. Box 31512 Palm Beach Gardens, FL 33420 Tel: 561-245-1144 Fax: 561-244-9580 Ejjames50@icloud.com ejames@elainejohnsonjames.com 129 1203 EXECUTIVE DIRECTORDEPUTY DIRECTORDirector of Construction ServicesDirector of Risk Control and Program ComplianceDirector of Contracts and Insurance ComplianceDirector of Housing Financial ServicesDirector of HCV Program AdministrationHousing Management AnalystDirector of Asset ManagementManagement Information SystemsDirector of Community RelationsDirector of FinanceGeneral Counseland Director of DevelopmentEnterprise Regional ManagerFront Desk AdministrationTenancy Eligibility & Lease Up ManagerTenancy Certification ManagerProperty ManagerParalegalFiscal SpecialistsHousing Financial ServicesManagerInventory/Procurement SpecialistMaintenance staff (Site specific)Specialized Maintenance staff Property Managers and Assistant Managers HCV Program SupervisorVASH SpecialistFront Desk Housing ProgramsHCV SpecialistsMaintenance Risk Control OfficersExecutive Senior StaffWEST PALM BEACH HOUSING AUTHORITYOrganizational ChartSpecialist Maintenance Tech BOARD OF COMMISSIONERS1301204 CURRENT PROPERTY MANAGEMENT EXPERIENCE OF THE WEST PALM BEACH HOUSING AUTHORITY APRIL 2025 Public Housing Property – 157 units  Southridge – 148 units, from 1941 to present 3801 Georgia Avenue, West Palm Beach, FL  Sabal Palm Place – 9 units, from September 2014 to present 1860 N. Tamarind Avenue, West Palm Beach, FL Rental Assistance Demonstration Property - 282 units  Pleasant City – 74 units, from 1967 to present Scattered Sites  Robinson Village - 60 units, from 1986 to present 5100 45th Street, West Palm Beach, FL  Robinson Villas – 20 units, from 1986 to present 905 22nd Street, West Palm Beach, FL  Twin Lakes – 128 units, from 1962 to present 1200 7th Street, West Palm Beach, FL Low Income Housing Tax Credit Properties – 833 units1  MerryPlace Apartment –128 units, from January 2013 to present 451 Cheerful Court, West Palm Beach, FL  Paul Laurence Dunbar Senior Complex – 99 units, from October 2015 to present 906 Grant Street, West Palm Beach, FL  Silver Palm Place - 120 units, from January 2017 to present 838 Adams Street, West Palm Beach, FL Royal Palm Place – 125 units, from December 2018 to present 808 17th Street, West Palm Beach, FL  La Joya Villages – 55 units - from August 2018 to present 131 1205 1105 6th Avenue, Lake Worth Beach, FL  Boynton Bay Apartments – 200 units – from March 2024 to present 499 Boynton Bay Circle, Boynton Beach, FL  Autumn Ridge – 106 units – from December 2024 to present 1580 N. Congress Avenue, West Palm Beach, FL Affordable Housing Property – 125 units  Newton Woods Apartments – 60 units from 2005 to present 6135 Newton Woods Drive, West Palm Beach, FL  Colony Oaks Apartments - 65 units from 2005 to present 345 N. Haverhill Road, West Palm Beach, FL 1 In 2012 the West Palm Beach Housing Authority applied to Florida Housing Finance Corporation (FHFC) to be a certified tax credit management company. The West Palm Beach Housing Authority met all criteria and eligibility requirements and was officially approved and recognized by FHFC as a certified tax credit management company as of November 5, 2012. Since 2012, the West Palm Beach Housing Authority has maintained all performance metrics to keep its designation in good standing. 132 1206 Attorney: Stearns Weaver Miller 150 W. Flagler Street, Suite 2200 Miami, FL 33130 Phone: (305) 789-3350 Attn: Brian McDonough, Esq. (bmcdonough@stearnsweaver.com) Accountant: CohnReznick 3560 Lenox Road NE Atlanta, GA 30326 Phone: (404) 847-9447 Attn: Daniel R. Worrall, Audit Partner (dan.worrall@cohnreznick.com) Architect: Burgos Lanza & Associates 7471 SW 56th Street Miami, FL 33143 Phone: (786) 554-9035 Attn: Pablos Burgos, Principal (pburgos@burgoslanza.com) General Contractor: Landmark Construction Service, LLC 6555 NE 4th Avenue Miami, FL 33138 Phone: (305) 665-1146 Attn: Gregory J. Wyka, President (greg@firstflorida.com) City View TAB 5 Team of Consultants & Professionals 133 1207 Civil Engineers (We anticipate contracting with one of the following entities): 1. Kimely-Horn 1615 S. Congress Avenue, Suite 201 Delray Beach, FL 33445 Phone: (561) 404-7240 Attn: Jushua Horning, P.E. (josh.horning@kimley-horn.com) 2. Thomas Engineering Group 6300 NW 31st Avenue Fort Lauderdale, FL 33309 Phone: (954) 202-7000 Attn: Maxwell Kaplan, P.E. (mkaplan@thomaseg.com) City View TAB 5 Team of Consultants & Professionals 134 1208 ▪ Corporate Profiles/Resumes ▪ FL Bar Profile – o Brian J. McDonough o Marc J. Sternbaum City View Tab 5 Stearns Weaver Miller Attorney 135 1209 STEARNS WEAVER MILLER INFORMATION PREPARED FOR: Justin Gilbert Landmark Development Corp. FIRM CONTACT: Brian McDonough Tel: 305-789-3350 Email: bmcdonough@stearnsweaver.com MIAMI Museum Tower 150 West Flagler Street Suite 2200 Miami, FL 33130 (305) 789-3200 FORT LAUDERDALE 200 East Las Olas Boulevard 21st Floor (Penthouse A) Fort Lauderdale, FL 33301 (954) 462-9500 TAMPA SunTrust Financial Centre 401 East Jackson Street Suite 2100 Tampa, FL 33602 (813) 223-4800 TALLAHASSEE Highpoint Center 106 East College Avenue Suite 700 Tallahassee, FL 32301 (850) 580-7200 CORAL GABLES 2020 Salzedo Street 6th Floor Coral Gables, FL 33134 (305)461-7400 stearnsweaver.com 136 1210 ABOUT Stearns Weaver Miller Weissler Alhadeff & Sitterson is a full service law firm with offices in Miami, Fort Lauderdale, Tampa, Tallahassee, and Coral Gables, Florida. We offer multidisciplinary solutions with a focus on Litigation & Dispute Resolution, Business Restructuring, Corporate & Securities, Government & Administrative, Labor & Employment, Real Estate, Real Estate Finance, Commercial Finance and Loan Restructuring & Workouts, Land Development, Zoning & Environmental and Tax. OUR CLIENTS Our clients range from small start-up ventures to some of the largest multinational corporations in the world, as well as some of the country’s most successful individuals, entrepreneurs and major financial institutions. We have the practical business sense to resolve complex legal problems and to understand the impact of the law and the regulatory environment on our clients' businesses. We believe that our clients’ success is our business. RANKINGS We are committed to exceptional quality and creativity in our legal work. Our attorneys consistently enjoy numerous accolades from top publications, including Chambers & Partners USA, Benchmark Litigation and The Best Lawyers in America. COMMUNITY INVOLVEMENT We believe in giving back and strive every day to make our community a better place to live, work and play for all. Our Firm provides financial and leadership support to a myriad of not-for-profit organizations impacting the arts, children and families, community service, education, the environment, health and wellness and legal services in our community and beyond. STATE OF THE ART FACILITIES Our team of accomplished trial lawyers is complemented by the full range of support staff and facilities required for trial preparation and training. This includes a state of the art simulated courtroom used to prepare witnesses for trial, as well as an in-house multimedia department dedicated to producing hig h-level presentation materials and audiovisual aids. We offer the highest level of preparedness to our clients and attorneys to help them to acclimate to a courtroom setting before trial even begins. GLOBAL REACH Stearns Weaver Miller helps clients navigate legal and business issues across the country and around the globe through our affiliation with Meritas, a global network of more than 170 independent, full -service law firms across the United States and in more than 80 countries. MIAMI Museum Tower 150 West Flagler Street Suite 2200 Miami, FL 33130 (305) 789-3200 TAMPA SunTrust Financial Centre 401 East Jackson Street Suite 2100 Tampa, FL 33602 (813) 223-4800 FORT LAUDERDALE 200 East Las Olas Blvd. 21st Floor (Penthouse A) Fort Lauderdale, FL 33301 (954) 462-9500 TALLAHASSEE Highpoint Center 106 East College Avenue Suite 700 Tallahassee, FL 32301 (850) 580-7200 CORAL GABLES 2020 Salzedo Street 6th Floor Coral Gables, FL 33134 (305) 461-7400 1 137 1211       AFFORDABLE HOUSING & TAX CREDIT  Stearns Weaver Miller’s Affordable Housing practice represents developers who use low income housing tax credits, tax  exempt bond financing, and other public and private funds for the construction of affordable housing for low and  moderate income households. We also represent some of the nation's largest lenders making construction loans or  providing credit enhancement to developers of affordable housing.    Because affordable housing developers compete for tax credits, a successful outcome requires painstaking attention to  detail as well as familiarity with all of the governmental programs and agencies that are potential funding sources. Our  affordable housing lawyers counsel clients on every aspect of the transaction, including the structure of the project  partnership (including the admission of the equity investor as a limited partner), the application for tax credits, the  securing of supplemental financing from public and private sources, the review and negotiation of loan documents for  every aspect of the transaction, and title, survey and site planning  issues.  In  addition  to  handling  all  real  estate,  corporate and tax matters involved in an individual transaction, we assist clients with post‐closing matters such as  construction issues, compliance monitoring, and continuing disclosure duties.    We regularly work with lawyers in the Tax Department on issues such as proper structuring of developer fee payments,  partnership  tax  allocations,  and  related  matters.  Our  Land  Use,  Zoning,  and  Environmental  Department  provides  invaluable assistance to our developer clients as they seek to determine the viability of developing proposed multifamily  affordable  apartment  projects.  We  work  with  our  clients’  in‐house  staff  and  professional  engineers  in  seeking  governmental approvals needed for proposed developments.    RANGE OF SERVICES:     Construction Mortgage Loans   Credit Enhancement   Federal Low Income Housing Tax Credits   Federal & State Housing Agencies   Florida Housing Finance Corporation Programs    Housing Discrimination   HUD Construction & Permanent Loans   HUD Mixed Finance Transactions   Freddie Mac & Fannie Mae Mortgage Loan Programs   Local Government Subsidies    Local Housing Authorities    Permanent Mortgage Loan Financing   Real Estate   Review & Negotiation of Loan Documents   Supplemental Financing   Tax Exempt Bond Financing   Year 15 Exit Issues Including Buyout of Limited Partner 2 138 1212 PRACTICE AREAS Affordable Housing & Tax Credit Real Estate Tax, Trusts & Estates Government & Administrative EDUCATION LL.M., New York University School of Law, 1984 J.D., University of Notre Dame Law School, 1981 B.S., cum laude, University of Florida, 1977 ADMISSIONS Florida BRIAN J. MCDONOUGH Shareholder, Miami 305-789-3350 | bmcdonough@stearnsweaver.com He is a master in terms of negotiating, and he is well liked and respected by all participants, including the governmental funding partners. He sees the big picture and ensures that his client's primary goals are met, and he does not get lost in details which are unimportant. - Chambers USA 2018 Brian McDonough is a Shareholder in the Real Estate Department. Brian is a member of the Firm's Board of Directors as well as its Executive Committee, and also is the Chairperson of the Firm's Affordable Housing and Tax Credit Practice Group. Brian represents developers using government loan programs, community housing development organizations and 501(c)(3) organizations using qualified 501(c)(3) bonds for multifamily housing developments. Brian assists clients with matters involving multifamily housing, low income housing tax credits and loan programs implemented by the U.S. Department of Housing and Urban Development. Brian also represents lenders in all types of real estate loans and in particular, loans related to affordable housing. Brian is a frequent lecturer and panelist on current matters affecting affordable housing. In addition, Brian has authored several articles on matters affecting affordable housing. REPRESENTATIVE EXPERIENCE  Represented large affordable housing developer in connection with the issuance of bonds on the Tel Aviv Stock Exchange.  Represented Quest Inc. in securing construction financing and tax credit syndication totaling $16.8 million for Quest Village, an affordable apartment community for independent adults with developmental disabilities.  Representation of several sellers of multiple affordable housing properties, partnership interests and management company affiliates.  Negotiation and preparation of contracts for properties for new and existing multifamily apartment buildings throughout the State of Florida.  Negotiation of workouts of tax-exempt bond financed projects involving state and local issuers of bonds.  Representation of developers in the negotiation of the syndication of federal low income housing tax credits. 3 139 1213 Brian J. McDonough – 2  Issued, as an agent for various title companies, title insurance policies on behalf of owners and lenders in excess of $1 billion.  Assisted affordable housing developer, St. John Community Development Corporation and the CDP Companies, in the closing of the development and financing for St. John Plaza, a 90-unit apartment complex in Overtown, Miami. The project was financed through multiple sources, including bonds issued by the Southeast Overtown/Park West Community Redevelopment Agency (CRA) and the Housing Finance Authority of Miami-Dade County. PROFESSIONAL & COMMUNITY INVOLVEMENT  Give Kids A Chance, a charitable organization providing scholarships to low income students, Founder and Executive Director  Acts as legal counsel to the Coalition of Affordable Housing Providers, an organization of developers, lenders, tax credit syndicators, and other professionals involved in the acquisition, financing, and development of affordable housing in the State of Florida  Camillus House, Board of Directors RECOGNITION  The Best Lawyers in America®, Miami Real Estate Law Lawyer of the Year, 2020  The Best Lawyers in America®, 2003-2021  Chambers USA: America's Leading Lawyers for Business -Ranked in Real Estate, 2015-2020  Florida Super Lawyers, 2006-2019  AV Rated by Martindale-Hubbell PUBLICATIONS  “IRS Provides Tax Relief for Low-Income Housing Credit and Bonds for Qualified Rental Projects,” Stearns Weaver Miller News Update, July 10, 2020  “Update: IRS Provides Guidance for Big Capital Gains Break,” Stearns Weaver Miller News Update, October 25, 2018 PRESENTATIONS  “The Affordable Housing Credit Program – Current Trends,” Royal American Owners Retreat, Panama City, Florida, April 2015 4 140 1214 PRACTICE AREAS Real Estate Affordable Housing EDUCATION J.D., Columbia University School of Law, 1971 B.A., Washington University in St. Louis, 1968 University of Guadalajara ADMISSIONS Florida LANGUAGES Spanish MARC J. STERNBAUM Of Counsel, Miami 305-789-3363 | msternbaum@stearnsweaver.com Marc Sternbaum is experienced in all facets of real estate and mortgage law. He regularly counsels owners, lenders and investors in all areas of transactional real estate including the acquisition, disposition, financing and development of high-quality affordable and conventional multifamily projects and retail and industrial commercial real estate projects. Marc is also an experienced title examiner. Prior to joining the firm, Marc was of counsel in the Real Estate Department of a Miami-based business and real estate law firm. AREAS OF CONCENTRATION Purchase, sale and leasing of retail, office, multifamily residential, industrial, warehouses, shopping centers and other commercial properties Representation of local, regional and national lenders in the closing of purchase money, refinance and construction and development loans. Preparation of condominium and homeowner association documents Commercial mortgage loan transactions and documentation Servicing mortgage loans in commercial mortgage-backed security (CMBS) pools Commercial leasing work on behalf of both landlords and tenants. Loan forbearance Workout agreements Deeds-in-lieu of foreclosure Loan assumptions Lease approvals Unsecured lending REPRESENTATIVE EXPERIENCE Represented a major CMBS special server in the negotiation and documentation of loan forbearances, modifications, restructurings and deeds-in-lieu of foreclosure on loans totaling over $1 billion. Represented lender in the closing of a multi-tier mezzanine and senior mortgage loan for land acquisition and development totaling more than $96 million. Represented a major CMBS special servicer for the documentation and closing of a modification, recapitalization and assumption of a $210 million mortgage loan secured by a multi-building subsidized housing project in New York City. 141 1215 Marc J. Sternbaum – 2 Represented a Canadian developer for over 13 years in its acquisition, development and sale of a 170-acre, high-density residential and commercial parcel in Miami-Dade County. Represented a New York based real estate joint venture for over 5 years in its disposition of a portfolio of industrial, office and mixed- use land in planned developments in Weston and Boca Raton, Florida. PROFESSIONAL & COMMUNITY INVOLVEMENT The Florida Bar Real Estate, Probate, and Trust Law Section American Bar Association Dade County Bar Association Habitat for Humanity of Greater Miami, Former Board Member Melton School of Adult Jewish Studies RECOGNITION Martindale-Hubbell, AV Rated 142 1216 143 1217 144 1218 145 1219 146 1220 ▪ Resume/Corporate Profile o Daniel Worrall ▪ George State Board of Accountancy License City View Tab 5 Cohn Reznick Accountant 147 1221 1Please click on CohnReznick’s breakthrough logo for additional information. ACCOUNTING AND ASSURANCE SERVICES TAX SERVICES ADVISORY •Audits, Reviews, and Compilations •Employee Benefit Plans •IFRS •SOC 1(SSAE 16), 2, and 3 Examinations •Agreed-upon Procedures •Accounting Outsourcing and Consultations •Public Company Services •IT Audit and Controls Review •Tax Compliance and Preparation •Strategic Tax Planning •Corporate Tax Outsourcing •Private Clients •Federal Tax •Trust and Estate •International Tax •State and Local Tax •Transfer Pricing •Cost Segregation Studies •New Market Tax Credits •Tax Specialty Services •Tax Credit Advisory •Bankruptcy and Restructuring •Computer Forensics and eDiscovery •Cybersecurity •Forensic and Litigation •Governance, Risk and Compliance •Government and Public Sector •Management Consulting and CFO Advisory •Real Estate Advisory / NOI Strategies •Technology and Digital Services •Transactional Advisory and M&A Consulting •Valuation Firm Profile More than $600 million in annual revenue International reach via Nexia member firms in more than 100 countries offices26 Approximately300 partners/principals 2,700+ employees Leading audit, tax, and advisory firm in the United States CohnReznick is a national audit, tax, and business advisory firm founded in 1919. As one of the top accounting firms in the United States, CohnReznick provides forward-thinking service across nearly two dozen industries and serves businesses ranging from multigenerational family-run enterprises to public companies in the Fortune 1000. We have the deep resources and technical acumen of a large national accounting firm without sacrificing the hands-on, entrepreneurial approach that today's dynamic business environment demands. This combination allows us to offer the proactive insight and guidance our clients need as they grow and evolve. CohnReznick has developed specialized practices in key industries, including affordable housing, allowing us to specifically target relevant service offerings and knowledgeable personnel to each client. Because of our depth of resources across service lines, we serve in a variety of client service roles, including primary auditor, advisor, tax consultant, and other specialized roles. In addition to solid capabilities in core practice areas, CohnReznick has expanded the breadth of our service offerings in response to our clients’ needs. We foster collaborative connections across every level and branch of our organization so that the professionals who will serve you will have access to our firm-wide depth of resources. An overview of our service offerings includes: 148 1222 2Please click on CohnReznick’s breakthrough logo for additional information. Firm Profile To ensure each client relationship is compliant with all regulatory, ethics, and independence standards, CohnReznick has organized several ventures into CohnReznick Affiliated Companies. By coupling our internal capabilities with highly reputable external organizations, we are able to offer consulting services related to employee benefits, investment, real estate, insurance, risk management, wealth management, and technology. AFFILIATED COMPANIES •Capital Markets Securities •CohnReznick Benefits Consultants •CohnReznick UIC Insurance Consulting, Inc. •CohnReznick Real Estate LLC •CohnReznick Wealth Management LLC •WJ Technologies With 26 offices throughout the U.S. and abroad, local engagement teams leverage our Firm-wide resources and deliver close, personal service. CALIFORNIA Los Angeles •Sacramento •San Diego •Woodland Hills CONNECTICUT Hartford •Stamford GEORGIA Atlanta ILLINOIS Chicago MARYLAND Annapolis • Baltimore •Bethesda MASSACHUSETTS Boston •Springfield NEW JERSEY Eatontown •Princeton •Roseland NEW YORK Long Island •New York •White Plains NORTH CAROLINA Charlotte TEXAS Austin VIRGINIA Tysons Also: •Cayman Islands* •Chennai, India* •Sydney, Australia* •The Hague, The Netherlands* •Nexia International—The tenth largest provider of audit and advisory services in the world. The network includes more than 20,000 professionals in 565 offices operating in over 100 countries. *Foreign offices are subsidiaries of CohnReznick 149 1223 3Please click on CohnReznick’s breakthrough logo for additional information. Firm Profile International Resources Geographic boundaries are no longer barriers to doing business. More and more enterprises—in their pursuit of new markets, better supply chains, and cost-efficient back-office support—are finding themselves with operations or sales in foreign countries. This brings with it the need for reliable and experienced accounting, tax, and business advisory services practitioners “on the ground” in the relevant jurisdictions. To meet this need, CohnReznick is an independent member of Nexia International (Nexia), a leading provider of audit and advisory services worldwide. CohnReznick, as one of two U.S. firms on Nexia’s board of directors, takes a proactive role in Nexia, holding prominent leadership roles and regularly meeting with and training member firms around the world. Our partners currently serve as Chairmen of Nexia’s Tax Committee and Marketing/Business Development Committee and hold positions on the Executive Board, Audit Committee, People Development Committee, Governance/Cyber Security Committee and Insolvency and Reorganization Committee. Through these leadership roles in the organization, we have built strong working relationships with Nexia member firms and are fully integrated in the network, allowing us to provide our clients with unified and consistent solutions around the globe. Working as a team with other Nexia firms, we provide our clients with a cohesive approach to their accounting, tax, and business issues, wherever they arise, and local expertise and connections where they are needed. 150 1224 4Please click on CohnReznick’s breakthrough logo for additional information. Firm Profile Success favors those who disrupt the status quo: leaders committed to accelerating innovation and reshaping market dynamics. CohnReznick is defying convention and pushing the limits of technology as applied to the accounting world. We endeavor to utilize robust technologies during all of our audit, tax, and consulting processes. Moreover, we understand that the future of accounting rests on technological innovation, and are determined to be on the forefront of business innovation and privy to the opportunities fresh technology affords. CohnReznick’s Innovation Lab The CohnReznick Innovation Lab is transforming how we create value for clients. With it, our solutions architects help accelerate business improvement initiatives and shape more agile, customer-responsive organizations. With an interactive video wall, leading visual collaboration tools, and “meeting anywhere” Internet communications, the CohnReznick Innovation Lab helps you adapt to a rapidly changing digital environment. It’s a fast, cost-effective way to innovate. The Innovation Lab makes it possible for us to co-create with our clients in a dynamic, iterative way. It’s the foundation for an innovation ecosystem that includes the CohnReznick innovation framework, dedicated solutions architects, a network of collaboration and technology vendors, and the latest innovation research and trends. We ideate together, develop potential solutions, choose the one with the greatest business potential, then deploy and refine it to drive continuous innovation. It’s a fast, cost- effective way to innovate. Innovative Firm, Revolutionary Technology Look Ahead Gain Insight Imagine More Risk Mitigation and Monetization Strategy & Transformation Technology Acceleration Transactions Financial/ Operational Improvement 151 1225 5Please click on CohnReznick’s breakthrough logo for additional information. Firm Profile Value-Added Resources/Advisory High-performing organizations and digital disrupters are continuously innovating and redefining everything, from the way industries operate to how they do business. As a result of today’s business environment, organizations require speed and agility. Innovative companies are focused on expectations around development, operations, technology, risk, growth opportunities, and changing customer experience. These companies seek new ways to apply lean, strategic, profitable, and competitive business practices to optimize their business model. As a CohnReznick client our audit and tax teams will leverage the expertise of our Advisory Practice to address the many different challenges resulting from growth, economic issues, opportunities, or crises. To the extent that our independence is not impaired, our teams identify and implement effective solutions to help organizations optimize profitability and growth, improve workflow and performance, and manage risk and compliance. Our advisory groups specialize in: Digital and Technology •CIO advisory / technology strategy •Cloud solutions •Cybersecurity •Digital and innovation consulting •Enterprise resource planning •Information management and analytics Dispute Resolution •Computer forensics •eDiscovery •Forensic accounting •Litigation support Government and Public Sector •Audit, accounting and financial management •Compliance support for Federal, state and local government regulations •Contract compliance and integrity monitoring •Disaster response and recovery •Fraud, waste, and abuse prevention •Program and project management Management Consulting •Business transformation •CFO and financial advisory •Compensation and benefits strategy •Operations advisory •Supply chain optimization Private Clients •Business and investment management •Financial planning and wealth preservation •Insurance consulting •Succession planning •Tax planning, preparation and compliance •Trusts and estates Real Estate Advisory •Business transformation and enterprise architecture •Business process optimization, operating models, and organizational design •CIO advisory, technology triage, technology roadmaps/architecture, and system selection •Cybersecurity •Forecasting, planning, and analysis •Information management •Portfolio strategy and optimization •Risk management and internal audit •System implementation and integration Restructuring and Insolvency •Corporate restructuring •Financial recovery for debtors/creditors •Pre-bankruptcy and reorganization Risk Management •Cybersecurity •Governance support •Internal audit •IT audit and controls •Sarbanes-Oxley compliance Transactions •Buy- and sell-side due diligence •Corporate development •Deal sourcing and pre-transaction services •Post-transaction improvement/integration •Purchase price disputes Valuation •Purchase price allocations (PPA) •Restructuring and dispute resolution •Right-of-way valuations •Tax and financial reporting •Transactions and strategic advisory 152 1226  Section I: Firm Qualifications CohnReznick LLP Proposal to Provide Audit Services February 11, 2022  Dan Worrall, CPA Engagement Partner      /HQR[5RDG6WH $WODQWD*$  GDQZRUUDOO#FRKQUH]QLFNFRP  'DQ:RUUDOO&3$LVDSDUWQHULQ&RKQ5H]QLFN¶V$WODQWDRIILFHDQGDPHPEHURIWKH)LUP¶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¶V SHUVRQDXGLWGHSDUWPHQW+HLVDOVRLQYROYHGZLWKWKH)LUP¶VFROOHJHUHFUXLWLQJSURFHVVDWWKH8QLYHUVLW\RI $ODEDPDIRUWKH$WODQWDRIILFH  Education x8QLYHUVLW\RI:HVWHUQ0LFKLJDQ%DFKHORURI%XVLQHVV$GPLQLVWUDWLRQ  Professional Affiliations x$PHULFDQ,QVWLWXWHRI&HUWLILHG3XEOLF$FFRXQWDQWV x*HRUJLD6RFLHW\RI&HUWLILHG3XEOLF$FFRXQWDQWV x$ODEDPD6RFLHW\RI&HUWLILHG3XEOLF$FFRXQWDQWV  Relevant PHA and Government Experience x+RXVLQJ$XWKRULW\RIWKH&LW\RI'HFDWXU *HRUJLD x0RELOH+RXVLQJ%RDUG x*HRUJLD+RXVLQJDQG)LQDQFH$XWKRULW\x +RXVLQJ$XWKRULW\RI)XOWRQ&RXQW\ x+RXVLQJ$VVLVWDQFH'LYLVLRQRIWKH*HRUJLD 'HSDUWPHQWRI&RPPXQLW\$IIDLUV x:LQGHU+RXVLQJ$XWKRULW\ x+RXVLQJ$XWKRULW\RI'H.DOE&RXQW\x$VVHPEO\&RPPXQLW\,PSURYHPHQW 'LVWULFW x+RXVLQJ$XWKRULW\RI6DYDQQDK 153 1227 CPAVerify Individual Report Results NAME: DANIEL RAY WORRALL STATE OF LICENSE: AL LAST UPDATED: 2025-04-04 Business Address:ATLANTA, GA, License/Permit/Certificate Number:12950-R Registration Number: License/Permit/Certificate Status:ACTIVE License/Certificate Status Details: The licensee is current and in good standing. The licensee is required to earn 40 hours of CPE annually and can engage in the practice of public accountancy prior to the license expiration date. License Type:CPA License Type Details:An individual that holds a license to practice public accounting or is an individual exercising practice privileges pursuant to Section 34-1-7 Code of Alabama 1975. Basis for License: Issue Date:2016-08-31 Expiration Date:2025-09-30 Enforcement, Non-Compliance or Disciplinary Actions:None Reported To This Site By The Board Other Information:None Contact the Board for official verification of information. State Board Contact Information:ALABAMA STATE BOARD OF PUBLIC ACCOUNTANCY PO BOX 300375 MONTGOMERY, AL 36130-0375 Phone: 334-242-5700 Fax: 334-242-2711 Website: http://www.asbpa.alabama.gov/ Licensee Lookup: http://www.asbpa.alabama.gov/ NAME: DANIEL RAY WORRALL STATE OF LICENSE: GA LAST UPDATED: 2025-04-04 Business Address:TUSCALOOSA, AL, UNITED STATES License/Permit/Certificate Number:CPA027238 Registration Number: License/Permit/Certificate Status:ACTIVE License/Certificate Status Details:License has all privileges of CPA licensure. License Type:CERTIFIED PUBLIC ACCOUNTANT License Type Details:Contact Board for Details Basis for License:RECIPROCITY Basis for License Details: Reciprocal License. An Applicant having a valid unrevoked license to practice as a CPA from any jurisdiction and who is planning to relocate to Georgia must apply for a Reciprocal License. Issue Date:2008-12-18 Expiration Date:2025-12-31 Enforcement, Non-Compliance or Disciplinary Actions:None Reported To This Site By The Board Other Information:None Contact the Board for official verification of information. 04/04/25 16:35:43 1 154 1228 State Board Contact Information:GEORGIA STATE BOARD OF ACCOUNTANCY 200 PIEDMONT AVENUE SE, SUITE 1604 WEST TOWER ATLANTA, GA 30334-9010 Phone: 404-463-0365 Email: GSBA@SAO.GA.GOV Website: https://gsba.georgia.gov/ Licensee Lookup: https://gsba.georgia.gov/ NAME: DANIEL RAY WORRALL STATE OF LICENSE: MI LAST UPDATED: 2025-04-03 Mail Address:TUSCALOOSA, AL, USA License/Permit/Certificate Number:1101027803 Registration Number: License/Permit/Certificate Status:ACTIVE License/Certificate Status Details:This status is used when a license is issued and there are no restrictions. License Type:LICENSED ACCOUNTANT LICENSE Basis for License:EXAMINATION Basis for License Details: An individual was issued an initial Michigan C.P.A. certificate and license or registration based on meeting current statutory requirements including passing the Uniform CPA or IQEX examination and completing the required experience and education. Issue Date:2002-05-28 Expiration Date:2025-07-31 Enforcement, Non-Compliance or Disciplinary Actions:None Reported To This Site By The Board Other Information:None Contact the Board for official verification of information. State Board Contact Information:BUREAU OF PROFESSIONAL LICENSING Ottawa Building, 611 W. Ottawa P.O. Box 30004 LANSING, MI 48909 Phone: 517-241-0199 Fax: 517-241-9416 Email: BPLHELP@MICHIGAN.GOV Website: http://www.michigan.gov/bpl Licensee Lookup: http://www.michigan.gov/bpl Details of Enforcement, Non-Compliance or Disciplinary Actions: If "Contact State Board For Details" is displayed then the State Board has reported some type of enforcement, non-compliance or disciplinary action to this site and the State Board should be contacted for full details about the action reported. 1. If "None Reported To This Site By The Board" is displayed then the State Board provides enforcement, non-compliance and disciplinary action data to this site and none was indicated for this record. 2. If "State Does Not Provide This Type of Data At This Site" is displayed then CPAverify is not currently receiving enforcement, non-compliance or disciplinary action data for licensees in this state. Some states are limited to sharing this type of data with third party websites due to privacy laws or policies, but most State Boards offer this information on their official State Board websites. 3. Contact the State Board for official verification of all enforcement, non-compliance and disciplinary activity.4. The results shown here include all data made available by participating states. Additional data about the individual or firm may exist and is not shown here for other states that are not yet participating in the CPAverify website. Please refer to the Participating States tab for more information about which states are currently sharing their licensing data for use with this website and for clarification about which states these results do not include. If the Board of interest is not participating, you may refer to the "Contact Boards" tab where a link to every Boards' website and therefore individual license lookup tool is available. 04/04/25 16:35:43 2 155 1229 ▪ Corporate Profile ▪ License – o Burgos Lanza & Associates o Pablo Burgos o Carlos Lanza City View Tab 5 Burgos Lanza & Associates Architect 156 1230 157 1231 158 1232 159 1233 160 1234 161 1235 Metro II 28 Story –134 Units –Retail Spaces & Offices 162 1236 Metro II 163 1237 Paraiso Place 32 Story –Mixed-use –279 Units –Retail Spaces 164 1238 Paraiso PlaceEdgewater -Miami 165 1239 NMB Venus 26 Story –Mixed-use –437 Units –Retail Spaces 166 1240 NMB Venus North Miami Beach 167 1241 City Place Dania Beach, Fl 168 1242 Paseo at Flagler 25 Story –Mix Use –588 Units 169 1243 Boulevard Gardens8 Story –93 Units 170 1244 Sonata Apartments8 Story –Mixed-use –121 Units –Retail Spaces Pompano Beach 171 1245 Solaris Apartments 8 Story –Mixed-use –78 Units –Retail Spaces Hallandale Beach 172 1246 Solaris Apartments 173 1247 Sol Vista 8 Story –Mixed-use –227 Units 174 1248 Sol Vista 175 1249 West View 8 Story –Mixed-use –136 Units –Retail Spaces 176 1250 Lil Abner II -Elderly Housing 8 Story –244 Units Sweetwater -Florida 177 1251 Bayshore Place Apartments 178 1252 TriniSuites Dos y Medio Boutique Hotel 179 1253 TriniSuite Dos y Medio 180 1254 Commodore Place Coconut Grove, Fl. 181 1255 Cutler Bay Elderly Housing 8 Story –Mixed-use –93 Units –Retail Spaces 182 1256 Wynwood View 8 Story –Mixed-use –120 Units –Retail Spaces 183 1257 Ocean Eighteen Palm Beach Shores 184 1258 Ocean Eighteen Palm Beach Shores 185 1259 Ocean Eighteen Palm Beach Shores 186 1260 Captiva Cove III 92 Units Pompano Beach -Florida 187 1261 Captiva Cove III 188 1262 Sunset Point Apartments3 Story 232 Units Miami -Florida 189 1263 Sunset Point II Miami -Florida 190 1264 Marquis Apartments 3 Story -100 Units Pompano Beach 191 1265 Water’s Edge 3 Story -128 Units Miami -Florida 192 1266 Regatta Place 3 Story -114 Units Miami -Florida 193 1267 Regatta Place Apartments 194 1268 Gateway Apartments 3 Story –108 Units Pompano Beach 195 1269 Captiva Cove3 Story -352 Units Pompano Beach -Florida 196 1270 Captiva Cove 3 Story -352 Units Pompano Beach -Florida 197 1271 Captiva Cove –Pompano Beach 198 1272 Captiva Cove –Pompano Beach 199 1273 Captiva Cove –Lake Views 200 1274 Pelican Cove3 Story -112 Units Miami Gardens -Florida 201 1275 Pelican Cove3 Story - 112 Units Miami Gardens - Florida 202 1276 Pelican Cove 203 1277 Pelican Cove 204 1278 Pelican Cove - Clubhouse 205 1279 John & Anita Ferguson Senior Residences 206 1280 John & Anita Ferguson Senior Residences 207 1281 John & Anita Ferguson Senior Residences 208 1282 John & Anita Ferguson Senior Residences 209 1283 John & Anita Ferguson Senior Residences 210 1284 The Oaks at North Miami 3 Story - 96 Units North Miami - Florida 211 1285 212 1286 213 1287 Lil Abner – Elderly Housing 214 1288 Lil Abner – Elderly Housing 215 1289 Lil Abner – Elderly Housing 216 1290 Lil Abner – Elderly Housing 217 1291 Coral Gables Residence 218 1292 219 1293 220 1294 221 1295 222 1296 The General Contractor for the City View development is Landmark Construction Service, LLC (LCS) which is owned by Francisco Rojo (Principal of Landmark Developers, Inc.), Robert Saland, and First Florida Constructors, LLC. Refer to attached Contractor’s Qualification Statement (AIA A305) for LCS. ▪ Ownership Chart ▪ Experience Chart ▪ General Contractor’s License ▪ Certificate of Liability Insurance ▪ Qualification Statement (Document AIA A305) City View Tab 5 Landmark Construction Service, LLC General Contractor 223 1297 LANDMARK CONSTRUCTION SERVICE, LLCFirst Florida Constructors, LLC(50%)GENERAL CONTRACTOR OWNERSHIP CHARTGreg Wyka(99%)Wendy Wyka(1%)Francisco Rojo(25%)Robert Saland(25%)2241298 Landmark Construction Service, LLC Principals Experience Chart 50% 25% 25% *First Florida Constructors, LLC is owned 99% by Gregory J. Wyka & 1% by Wendy Wyka President Vice President / Secretary Vice President Treasurer Project Name Zip Code Construction Type Project Type No. Of Units Year Completed Sunrise Commons 26600 SW 146th Court Homestead, FL 33032 New Construction Mid-Rise 106 2010 Woodside Oaks 26205 SW 144th Street Homestead, FL 33032 New Construction Garden 103 2011 Westgate Plaza 4150 Westgate Ave.West Palm Beach, FL 33409 New Construction Mid-Rise 80 2012 Hampton Village 2800 NW 43rd Terrace Miami, FL 33142 New Construction Mid-Rise 100 2013 Circle Creek 26000 SW 144th Ave. Rd.Homestead, FL 33032 New Construction Garden 100 2014 City Heights 145 SW 8th Street Miami, FL 33130 New Construction High-Rise 98 2014 City Crossings 230 SW 12th Street Miami, FL 33130 New Construction High-Rise 103 2015 Keys Crossing 14301 SW 258th Lane Homestead, FL 33032 New Construction Garden 100 2017 Paul Laurence Dunbar Sr. Complex 906 Grant Street West Palm Beach, FL 33407 New Construction Mid-Rise 99 2017 Silver Palm Place 838 Adams Street West Palm Beach, FL 33407 New Construction Mid-Rise 120 2017 Willow Lake 122 NW 202 Terrace Miami Gardens, FL 33169 New Construction Townhouse 121 2017 City Vista 501 Hammondville Rd.Pompano Beach, FL 33060 New Construction High-Rise 111 2018 Coral Bay Cove 25851 S. Dixie Hwy Homestead, FL 33032 New Construction Garden 224 2020 Fair Oaks 29003 S. Dixie Hwy Homestead, FL 33033 New Construction Mid-Rise 124 2021 Windmill Farms 12871 SW 242nd Street Homestead, FL 33032 New Construction Garden 274 2024 Autumn Ridge 1580 N Congress Ave West Palm Beach, FL 33409 New Construction Mid-Rise 106 2024 City Place 75 Park Ave W Dania Beach, FL 33004 New Construction High-Rise 99 2025 Total 2,068 Notes: 2) On or prior to commencement of construction of City View Apartments, Robert Saland will transfer his ownership interest in Landmark Construction Service, LLC to Francisco Rojo. Location 1) The developments highlighted in blue above were constructed by Landmark Construction Service, Inc., which was owned by Robert Saland and Francisco Rojo, and Robert and Catherine Miller, the then owners of First Florida. Prior Experience Chart OWNERSHIP STRUCTURE OF LANDMARK CONSTRUCTION SERVICE, LLC: First Florida Constructors, LLC* Robert Saland Francisco Rojo OFFICERS Gregory J. Wyka Francisco Rojo Robert F. Saland Andrew Lenahan April 17, 2025 225 1299 Melanie S. Griffin, SecretaryRon DeSantis, GovernorSTATE OF FLORIDADEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATIONCONSTRUCTION INDUSTRY LICENSING BOARDTHE GENERAL CONTRACTOR HEREIN IS CERTIFIED UNDER THEPROVISIONS OF CHAPTER 489, FLORIDA STATUTESWYKA, GREGORY JOSEPHDo not alter this document in any form.LANDMARK CONSTRUCTION SERVICE, LLCLICENSE NUMBER: CGC1517868EXPIRATION DATE: AUGUST 31, 2026This is your license. It is unlawful for anyone other than the licensee to use this document.6555 NE 4TH AVENUEMIAMI FL 33138Always verify licenses online at MyFloridaLicense.comISSUED: 08/05/20242261300 ANY PROPRIETOR/PARTNER/EXECUTIVE OFFICER/MEMBER EXCLUDED? INSR ADDL SUBR LTR INSD WVD PRODUCER CONTACT NAME: FAXPHONE (A/C, No):(A/C, No, Ext): E-MAIL ADDRESS: INSURER A : INSURED INSURER B : INSURER C : INSURER D : INSURER E : INSURER F : POLICY NUMBER POLICY EFF POLICY EXPTYPE OF INSURANCE LIMITS(MM/DD/YYYY) (MM/DD/YYYY) AUTOMOBILE LIABILITY UMBRELLA LIAB EXCESS LIAB WORKERS COMPENSATION AND EMPLOYERS' LIABILITY DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) AUTHORIZED REPRESENTATIVE 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 AGGJECT OTHER:$ COMBINED SINGLE LIMIT $(Ea accident) ANY AUTO BODILY INJURY (Per person) $ OWNED SCHEDULED BODILY INJURY (Per accident) $AUTOS ONLY AUTOS HIRED NON-OWNED PROPERTY DAMAGE $AUTOS ONLY AUTOS ONLY (Per accident) $ OCCUR EACH OCCURRENCE CLAIMS-MADE AGGREGATE $ DED RETENTION $ PER OTH- STATUTE ER E.L. EACH ACCIDENT E.L. DISEASE - EA EMPLOYEE $ If yes, describe under E.L. DISEASE - POLICY LIMITDESCRIPTION OF OPERATIONS below INSURER(S) AFFORDING COVERAGE NAIC # COMMERCIAL GENERAL LIABILITY Y / N N / A (Mandatory in NH) SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. 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. 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 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). COVERAGES CERTIFICATE NUMBER:REVISION NUMBER: CERTIFICATE HOLDER CANCELLATION © 1988-2015 ACORD CORPORATION. All rights reserved.ACORD 25 (2016/03) CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY) $ $ $ $ $ The ACORD name and logo are registered marks of ACORD 12/26/2024 (305) 722-2663 38318 Landmark Construction Service, LLC 6555 NE 4th Avenue Miami, FL 33138 26247 36056 A 2,000,000 1000026001251 1/1/2025 1/1/2026 100,000 5,000 2,000,000 4,000,000 4,000,000 2,000,000A 1000672983251 1/1/2025 1/1/2026 10,000,000A 1000588168251 1/1/2025 1/1/2026 10,000,000 A 1000005207 1/1/2025 1/1/2026 1,000,000 1,000,000 1,000,000 B Excess Liability AEC563478706 1/1/2025 15m x 10m 15,000,000 C Excess Liability SE25EXCZ0D37YIC 1/1/2025 1/1/2026 12.5 Part of 25m 12,500,000 Proof of Insurance X X X FIRSFLO-17 MSOMBERG NHG Specialty LLC 15050 NW 79th Court Suite 200 Miami Lakes, FL 33016 Rogelio Alvarez Caballero RAlvarez@acrisure.com Starr Indemnity & Liability Company American Guarantee & Liability Insurance Company Navigators Specialty Insurance Company X 1/1/2026 X X X X X X X X 227 1301 FORM NUMBER: EFFECTIVE DATE: The ACORD name and logo are registered marks of ACORD ADDITIONAL REMARKS ADDITIONAL REMARKS SCHEDULE FORM TITLE: Page of THIS ADDITIONAL REMARKS FORM IS A SCHEDULE TO ACORD FORM, ACORD 101 (2008/01) AGENCY CUSTOMER ID: LOC #: AGENCY NAMED INSURED POLICY NUMBER CARRIER NAIC CODE © 2008 ACORD CORPORATION. All rights reserved. NHG Specialty LLC FIRSFLO-17 SEE PAGE 1 1 SEE PAGE 1 ACORD 25 Certificate of Liability Insurance 1 SEE P 1 Landmark Construction Service, LLC 6555 NE 4th Avenue Miami, FL 33138 SEE PAGE 1 MSOMBERG 1 Additional Coverage Excess Coverage: Westfield Specialty Insurance Company Effective: January 1, 2025 to January 1, 2026 Policy Number: XSL-460156Y-00 $12,500,000 Each Occurrence/Aggregate Part of $25,000,000 Each Occurrence/Aggregate Excess Coverage: Liberty Surplus Insurance Corporation Policy Period: January 1, 2025 to January 1, 2026 Policy Number: 1000385574-06 Excess of $10,000,000 Excess of $50,000,000 Excess Coverage: Fair American Select Insurance Company Policy Period: January 1, 2025 to January 1, 2026 Policy Number: CSX-8000164-02 Limits: $10,000,000 excess of $60,000,000 Excess Coverage: Great American Assurance Company Policy Period: January 1, 2025 to January 1, 2026 Policy Number: EXC 5775586 Limits: $5,000,000 excess of $70,000,000 Professional/Pollution: Steadfast Insurance Company Policy Period: January 1, 2025 to January 1, 2026 Policy Number: EOC 0951933-02 Policy Aggregate Limit of Liability $10,000,000 Coverages A and B Aggregate Limit of Liability: $10,000,000 Coverages C Aggregate Limit of Liability: $10,000,000 Professional Liability Coverage Type: Claims Made Retroactive Date: 01/01/2020 Limits of Liability: $ 10,000,000 Each Claim $ 10,000,000 Aggregate Limit of Liability SIR: $ 150,000 Each Claim Leased and Rented: Starr Indemnity Policy Number: ITA100065437525 Policy Period January 1,2025 to January 1,2026 $250,000 per Item/$500,000 maximum limit 228 1302 i Al.A Document A305" -2020 Contractor's Qualification Statement THE PARTIES SHOULD EXECUTE A SEPARATE CONFIDENTIALITY AGREEMENT IF THEY INTEND FOR ANY OF THE INFORMATION IN THIS A305-2020 TO BE HELD CONFIDENTIAL. SUBMITTED BY: SUBMITTED TO: (Organization name and address.) (Organization name and address.) Landmark Construction Service, LLC Francisco Rojo 6555 NE 4th Avenue Miami, Florida 33138 Landmark Developers, Inc. 3050 Biscayne Blvd., Suite #300, Miami, FL 33137J TYPE OF WORK TYPICALLY PERFORMED (Indicate the type of work your organization typically pe1for111s, such as general contracting, construction manager as constructor services, HV AC contracting, electrical contracting, plumbing contracting, or other.) New Constmction THIS CONTRACTOR'S QUALIFICATION STATEMENT INCLUDES THE FOLLOWING: (Check all that apply.) [ X l [ X l [ X l [ X l Exhibit A -General Information Exhibit B -Financial and Performance Information Exhibit C -Project-Specific Information Exhibit D -Past Project Experience [ X l Exhibit E -Past Project Experience (Continued) CONTRACTOR CERTIFICATION The unders�g� certifies under oath that the information provided in this Contractor's Qualification Statement is t nd sufficiently complete so as not to be misleading. c' � Greg Wyka, President Printed Name and Title NOTARY State of: Florida County of: Miami-Dade April 1st, 2025 Date Signed and sworn to before me this 1 sth day of April 2025 Notary Signature My commission expires: � / GJ f ')-OL& ADDITIONS AND DELETIONS: The author of this document has added information needed for its completion. The author may also have revised the text of the original AIA standard form. An Additions and Deletions Report that notes added information as well as revisions to the standard form text is available from the author and should be reviewed. A vertical line in the left margin of this document indicates where the author has added necessary information and where the author has added to or deleted from the original AIA text. This document has important legal consequences. Consultation with an attorney is encouraged with respect to its completion or modification. ARACEU. y ARTILES Notary Publlc State of Florida Comm# HH525816 Expires 5/9/2028 AIA Document A305 -2020. Copyright© 1964, 1969, 1979, 1986, and 2020. All rights reserved. "The American Institute of Architects," "American Institute of Architects," "AIA," the AIA Logo, and "AIA Contract Documents" are trademarks of The American Institute of Architects. This document was produced at 07:23:36 1ET on 04/02/2025 under Order No.4104247018 which expires on 05/31/2025, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents"" Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (1735873606) 229 1303 Document A305® – 2020 Exhibit B AIA Document A305 – 2020 Exhibit B. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:14:46 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (1450264659) 1 ADDITIONS AND DELETIONS: The author of this document has added information needed for its completion. The author may also have revised the text of the original AIA standard form. An Additions and Deletions Report that notes added information as well as revisions to the standard form text is available from the author and should be reviewed. A vertical line in the left margin of this document indicates where the author has added necessary information and where the author has added to or deleted from the original AIA text. This document has important legal consequences. Consultation with an attorney is encouraged with respect to its completion or modification. Financial and Performance Information This Exhibit is part of the Contractor’s Qualification Statement, submitted by Yari Gonzalez and dated the 1st day of April in the year 2025 (In words, indicate day, month and year.) § B.1 FINANCIAL § B.1.1 Federal tax identification number: Landmark Construction Service, LLC 45-4961854 § B.1.2 Attach financial statements for the last three years prepared in accordance with Generally Accepted Accounting Principles, including your organization’s latest balance sheet and income statement. Also, indicate the name and contact information of the firm that prepared each financial statement. Available upon request § B.1.3 Has your organization, its parent, or a subsidiary, affiliate, or other entity having common ownership or management, been the subject of any bankruptcy proceeding within the last ten years? No. § B.1.4 Identify your organization’s preferred credit rating agency and identification information. (Identify rating agency, such as Dun and Bradstreet or Equifax, and insert your organization’s identification number or other method of searching your organization’s credit rating with such agency.) § B.2 DISPUTES AND DISCIPLINARY ACTIONS § B.2.1 Are there any pending or outstanding judgments, arbitration proceedings, bond claims, or lawsuits against your organization, its parent, or a subsidiary, affiliate, or other entity having common ownership or management, or any of the individuals listed in Exhibit A, Section 1.2, in which the amount in dispute is more than $75,000? (If the answer is yes, provide an explanation.) No. § B.2.2 In the last five years has your organization, its parent, or a subsidiary, affiliate, or other entity having common ownership or management: (If the answer to any of the questions below is yes, provide an explanation.) .1 failed to complete work awarded to it? No. .2 been terminated for any reason except for an owners’ convenience? 230 1304 AIA Document A305 – 2020 Exhibit B. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:14:46 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (1450264659) 2 No. .3 had any judgments, settlements, or awards pertaining to a construction project in which your organization was responsible for more than $75,000? No. .4 filed any lawsuits or requested arbitration regarding a construction project? No. § B.2.3 In the last five years, has your organization, its parent, or a subsidiary, affiliate, or other entity having common ownership or management; or any of the individuals listed in Exhibit A Section 1.2: (If the answer to any of the questions below is yes, provide an explanation.) .1 been convicted of, or indicted for, a business-related crime? No. .2 had any business or professional license subjected to disciplinary action? No. .3 been penalized or fined by a state or federal environmental agency? No. 231 1305 Document A305® – 2020 Exhibit A AIA Document A305 – 2020 Exhibit A. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:14:38 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (1934577526) 1 ADDITIONS AND DELETIONS: The author of this document has added information needed for its completion. The author may also have revised the text of the original AIA standard form. An Additions and Deletions Report that notes added information as well as revisions to the standard form text is available from the author and should be reviewed. A vertical line in the left margin of this document indicates where the author has added necessary information and where the author has added to or deleted from the original AIA text. This document has important legal consequences. Consultation with an attorney is encouraged with respect to its completion or modification. General Information This Exhibit is part of the Contractor’s Qualification Statement, submitted by Yari Gonzalez and dated the 1st day of April in the year 2025 (In words, indicate day, month and year.) § A.1 ORGANIZATION § A.1.1 Name and Location § A.1.1.1 Identify the full legal name of your organization. Landmark Construction Service, LLC §A.1.1.2 List all other names under which your organization currently does business and, for each name, identify jurisdictions in which it is registered to do business under that trade name. Landmark Construction Service, LLC – Subsidiary in the State of Florida §A.1.1.3 List all prior names under which your organization has operated and, for each name, indicate the date range and jurisdiction in which it was used. §A.1.1.4 Identify the address of your organization’s principal place of business and list all office locations out of which your organization conducts business. If your organization has multiple offices, you may attach an exhibit or refer to a website. 6555 NE 4th Avenue, Miami, Florida 33138 (Miami – HQ) § A.1.2 Legal Status § A.1.2.1 Identify the legal status under which your organization does business, such as sole proprietorship, partnership, corporation, limited liability corporation, joint venture, or other. Limited Liability Corporation .1 If your organization is a corporation, identify the state in which it is incorporated, the date of incorporation, and its four highest-ranking corporate officers and their titles, as applicable. .2 If your organization is a partnership, identify its partners and its date of organization. .3 If your organization is individually owned, identify its owner and date of organization. 232 1306 AIA Document A305 – 2020 Exhibit A. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:14:38 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (1934577526) 2 .4 If the form of your organization is other than those listed above, describe it and identify its individual leaders: Gregory J. Wyka – President Andrew J. Lenahan – Executive Vice-President Francisco Rojo - Vice-President §SA.1.2.2 Does your organization own, in whole or in part, any other construction-related businesses? If so, identify and describe those businesses and specify percentage of ownership. N/A § A.1.3 Other Information § A.1.3.1 How many years has your organization been in business? 14 § A.1.3.2 How many full-time employees work for your organization? 125 § A.1.3.3 List your North American Industry Classification System (NAICS) codes and titles. Specify which is your primary NAICS code. 236116 § A.1.3.4 Indicate whether your organization is certified as a governmentally recognized special business class, such as a minority business enterprise, woman business enterprise, service disabled veteran owned small business, woman owned small business, small business in a HUBZone, or a small disadvantaged business in the 8(a) Business Development Program. For each, identify the certifying authority and indicate jurisdictions to which such certification applies. N/A § A.2 EXPERIENCE § A.2.1 Complete Exhibit D to describe up to four projects, either completed or in progress, that are representative of your organization’s experience and capabilities. § A.2.2 State your organization’s total dollar value of work currently under contract. $105,086,910.00 § A.2.3 Of the amount stated in Section A.2.2, state the dollar value of work that remains to be completed: $37,044,378.00 § A.2.4 State your organization’s average annual dollar value of construction work performed during the last five years. $18,188,826.00 § A.3 CAPABILITIES § A.3.1 List the categories of work that your organization typically self-performs. General Construction 233 1307 AIA Document A305 – 2020 Exhibit A. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:14:38 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (1934577526) 3 § A.3.2 Identify qualities, accreditations, services, skills, or personnel that you believe differentiate your organization from others. First Florida and it’s affiliated companies have been awarded 54 Sunshine Safety Award. § A.3.3 Does your organization provide design collaboration or pre-construction services? If so, describe those services. § A.3.4 Does your organization use building information modeling (BIM)? If so, describe how your organization uses BIM and identify BIM software that your organization regularly uses. N/A § A.3.5 Does your organization use a project management information system? If so, identify that system. § A.4 REFERENCES § A.4.1 Identify three client references: (Insert name, organization, and contact information) See attached. § A.4.2 Identify three architect references: (Insert name, organization, and contact information) See attached. § A.4.3 Identify one bank reference: (Insert name, organization, and contact information) TD Bank C/o Carolyn Guerra 2222 Ponce de Leon Blvd. Coral Gables, FL 33134 Ph.: 305-441-5699 § A.4.4 Identify three subcontractor or other trade references: (Insert name, organization, and contact information) 1. Horizon Tile & Carpet Southeast Inc. Brad Belcher 480 Maplewood Drive, Suite 1 Jupiter, FL 33458 E: brad@horizontileinc.com Ph.: 561-744-1018 2. Gulf Coast Plumbing of Central Florida, Inc. 1923 Tampa East Blvd. Tampa, FL 33619 E: andrews@gcplumbingfl.com Ph.: 813-246-5341 Ext 108 3. Wayne Automatic Fire Sprinklers Inc. Mark White 222 Capitol Court Ocoee, FL 34761 E: mwhite@waynefire.com Ph.: 407-718-0883 234 1308 Document A305® – 2020 Exhibit C AIA Document A305 – 2020 Exhibit C. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:37:40 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (794977586) 1 ADDITIONS AND DELETIONS: The author of this document has added information needed for its completion. The author may also have revised the text of the original AIA standard form. An Additions and Deletions Report that notes added information as well as revisions to the standard form text is available from the author and should be reviewed. A vertical line in the left margin of this document indicates where the author has added necessary information and where the author has added to or deleted from the original AIA text. This document has important legal consequences. Consultation with an attorney is encouraged with respect to its completion or modification. Project Specific Information This Exhibit is part of the Contractor’s Qualification Statement, submitted by Yari Gonzalez and dated the 1st day of April in the year 2025 (In words, indicate day, month and year.) PROJECT: (Name and location or address.) City View Apartments CONTRACTOR’S PROJECT OFFICE: (Identify the office out of which the contractor proposes to perform the work for the Project.) TBD TYPE OF WORK SOUGHT (Indicate the type of work you are seeking for this Project, such as general contracting, construction manager as constructor, design-build, HVAC subcontracting, electrical subcontracting, plumbing subcontracting, etc.) General Contracting CONFLICT OF INTEREST Describe any conflict of interest your organization, its parent, or a subsidiary, affiliate, or other entity having common ownership or management, or any of the individuals listed in Exhibit A Section 1.2, may have regarding this Project. N/A § C.1 PERFORMANCE OF THE WORK § C.1.1 When was the Contractor’s Project Office established? N/A § C.1.2 How many full-time field and office staff are respectively employed at the Contractor’s Project Office? N/A § C.1.3 List the business license and contractor license or registration numbers for the Contractor’s Project Office that pertain to the Project. Landmark Construction Service, LLC – CGC1517868 § C.1.4 Identify key personnel from your organization who will be meaningfully involved with work on this Project and indicate (1) their position on the Project team, (2) their office location, (3) their expertise and experience, and (4) projects similar to the Project on which they have worked. Gregory J. Wyka - President – 6555 NE 4th Avenue, Miami Florida 33138 235 1309 AIA Document A305 – 2020 Exhibit C. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:37:40 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (794977586) 2 Andrew Lenahan – Executive Vice President – 6555 NE 4th Avenue, Miami Florida 33138 Maria Guthrie – Chief Financial Officer – 6555 NE 4th Avenue, Miami Florida 33138 Yari Gonzalez – Director of Operations – 6555 NE 4th Avenue, Miami Florida 33138 Alberto Cattabriga – Director of Construction – 6555 NE 4th Avenue, Miami Florida 33138 Susan Perez –Director of Preconstruction - 6555 NE 4th Avenue, Miami Florida 33138 Arianna Gonzalez – Contract Administrator Supervisor – 6555 NE 4th Avenue, Miami Florida 33138 Ashley Denise Howland – Contract Administrator – 6555 NE 4th Avenue, Miami Florida 33138 Project Manager - TBD Superintendent – TBD Asst. Superintendent - TBD § C.1.5 Identify portions of work that you intend to self-perform on this Project. N/A § C.1.6 To the extent known, list the subcontractors you intend to use for major portions of work on the Project. N/A § C.2 EXPERIENCE RELATED TO THE PROJECT § C.2.1 Complete Exhibit D to describe up to four projects performed by the Contractor’s Project Office, either completed or in progress, that are relevant to this Project, such as projects in a similar geographic area or of similar project type. If you have already completed Exhibit D, but want to provide further examples of projects that are relevant to this Project, you may complete Exhibit E. § C.2.2 State the total dollar value of work currently under contract at the Contractor’s Project Office: Financials available upon request. § C.2.3 Of the amount stated in Section C.2.2, state the dollar value of work that remains to be completed: Financial available upon request.. § C.2.4 State the average annual dollar value of construction work performed by the Contractor’s Project Office during the last five years. $25,172,903.00 § C.2.5 List the total number of projects the Contractor’s Project Office has completed in the last five years and state the dollar value of the largest contract the Contractor’s Project Office has completed during that time. 50 Completed Projects. $100MM § C.3 SAFETY PROGRAM AND RECORD § C.3.1 Does the Contractor’s Project Office have a written safety program? Yes. § C.3.2 List all safety-related citations and penalties the Contractor’s Project Office has received in the last three years. None. § C.3.3 Attach the Contractor’s Project Office’s OSHA 300a Summary of Work-Related Injuries and Illnesses form for the last three years. § C.3.4 Attach a copy of your insurance agent’s verification letter for your organization’s current workers’ compensation experience modification rate and rates for the last three years. 236 1310 AIA Document A305 – 2020 Exhibit C. Copyright © 2020. All rights reserved. “The American Institute of Architects,” “American Institute of Architects,” “AIA,” the AIA Logo, and “AIA Contract Documents” are trademarks of The American Institute of Architects. This document was produced at 12:37:40 ET on 05/20/2024 under Order No.4104247018 which expires on 11/19/2024, is not for resale, is licensed for one-time use only, and may only be used in accordance with the AIA Contract Documents® Terms of Service. To report copyright violations, e-mail docinfo@aiacontracts.com. User Notes: (794977586) 3 § C.4 INSURANCE § C.4.1 Attach current certificates of insurance for your commercial general liability policy, umbrella insurance policy, and professional liability insurance policy, if any. Identify deductibles or self-insured retentions for your commercial general liability policy. § C.4.2 If requested, will your organization be able to provide property insurance for the Project written on a builder’s risk "all-risks" completed value or equivalent policy form and sufficient to cover the total value of the entire Project on a replacement cost basis? Yes § C.4.3 Does your commercial general liability policy contain any exclusions or restrictions of coverage that are prohibited in AIA Document A101-2017, Exhibit A, Insurance A.3.2.2.2? If so, identify. No. § C.5 SURETY § C.5.1 If requested, will your organization be able to provide a performance and payment bond for this Project? Yes. § C.5.2 Surety company name: Liberty Mutual c/o Mr. Art Hamm 1051 Winderley Place, Suite 105 Maitland, Florida 32751 Ph.: 407-667-1744 § C.5.3 Surety agent name and contact information: Mr. David Hoover c/o Nielson, Hoover & Company, Inc. P.O. Box 9315 Miami Lakes, Florida 33016 Ph.: 305-822-7800 §C.5.4 Total bonding capacity: $500MM – Landmark Construction Service, LLC (total bonding capacity) §C.5.5 Available bonding capacity as of the date of this qualification statement: $500MM – Landmark Construction Service, LLC (total bonding capacity) 237 1311 Name of Development Location (City & State) Development Category New construction or Rehabilition/Substantial Development Type: garden, townhouses, high- rise, duplex/quad., mid-rise Total Number of Units Year Completed Naranja Villas (Note 1)Naranja, FL New Construction Garden 90 1997 The Palace Suites - Assisted Living Facility (Note 1) Miami, FL New Construction Mid-Rise w/elevator 180 1999 Pembroke Park Apartments (Note 1)Pembroke Park, FL New Construction Garden 244 1999 Pembroke Gardens Apartments (Note 1)Pembroke Park, FL New Construction Garden 198 2000 Homewood Suites Hotel (Note 1)Miami,FL New Construction Mid-Rise w/elevator 159 2000 Summerlake Apartments (Note 1)Davie, FL New Construction Garden 108 2001 Running Brook Apartments (Note 1)Homestead, FL New Construction Garden 187 2002 Sunrise Commons Apartments (Note 2)Naranja, FL New Construction Mid-Rise 106 2010 Westgate Plaza Apartments (Note 2)West Palm Beach, FL New Construction Mid-Rise 80 2012 Woodside Oaks Apartments (Note 2)Naranja, FL New Construction Tunnel 103 2012 Circle Creek Apartments Miami, FL New Construction Low-Rise 100 2013 City Heights Apartments Miami, FL New Construction High-Rise 98 2014 Keys Crossing Homestead, FL New Construction Garden 100 2017 Willow Lake Miami Garden, FL New Construciton Townhouses 121 2017 Silver Palm Place West Palm Beach, FL New Construciton Mid-Rise w/elevator 120 2018 Paul Laurence Dunbar Sr. Complex West Palm Beach, FL New Construction Garden 99 2017 City Vista Apartments Pompano Beach, FL New Construction High-Rise 111 2018 Coral Bay Cove Apartments Miami, FL New Construction Garden 224 2020 Fair Oaks Apartments Naranja, FL New Construction Mid-Rise 124 2021 City Place Apartments Dania Beach, FL New Construciton High-Rise 99 2024 Autumn Ridge Apartments West Palm Beach, FL New Construction Mid-Rise 106 2025 Windmill Farms Apartments Miami, FL New Construction Garden 274 2025 2) The projects were completed by Landmark Construction Service Inc. Experience of General Contractor or Qualifying Agent of General Contractor ***Jorge L. Costas was the Qualifying Agent for each of the above listed Developments Notes: 1) The projects were completed by contractors other than Landmark Construction Service, LLC where Jorge L. Costas was the qualifying agent. *** As of March 2024, Gregory J. Wyka is the Qualifying Agent for all ongoing and future Developments. "Exhibit D - Past Project Experience" 238 1312 C L I E N T R E F E R E N C E S Mark Sembler - COO 2nd Wave Development 5300 W Cypress Street, Suite 200 Tampa, Florida 33607 Ph: (727) 244-7144 E-mail: msembler@2ndwavedevelopment.com Todd Fabbri - President (HUD, Affordable Housing & Market Rate) The Richman Group of Florida 477 South Rosemary Avenue - Suite 301 West Palm Beach, Florida 33401 Ph: (561) 832-1114 E-mail: FabbriT@richmancapital..com Greg West - CEO ZOM Development 413 North Federal Highway Ft. Lauderdale, Florida 33301 Ph: ((954) 779-7950 E-mail: GTW@zomusa.com Miriam Pino - Design & Development Director Royal Senior Care 2980 NE 207 St. Suite 707 Aventura, FL 33180 Ph: (786)-303-8050 E-mail: mpino@royalseniors.com 239 1313 A R C H I T E C T R E F E R E N C E S Jim Black - Principal Forum Architecture 237 S Westmonte Drive - Suite 200 Altamonte Springs, FL 32714 Ph: (407) 830-1400 Alberto Cordoves - President Corwil Architects 4210 Laguna Street Coral Gables, FL 33146 Ph: (305) 448-7383 E-mail: acordoves@corwilarchitects.com Pablo Burgos - President Burgos Lanza and Associates 1248 S Alhambra Circle Coral Gables, Florida 33146 Ph: (786) 554-9035 E-mail: pburgos@burgoslanza.com 240 1314 ▪ Corporate Profile ▪ Resume / License – Joshua Horning City View Tab 5 Kimley-Horn & Associates, Inc. Civil Engineer 241 1315 Your Development Services Partner Founded in 1967, Kimley-Horn is a national planning and design consulting firm that offers comprehensive development services for a diverse spectrum of public and private sector clients across multiple disciplines. From concept through implementation, we specialize in making the ideal real. »We serve as a trusted advisor, looking out for our clients’ assets and well-being. »We harmonize ambition and big ideas with innovative but practical engineering solutions. »We create places worth visiting and remembering, while ensuring they are constructible and timeless. When it comes to working with Kimley-Horn, you can simply expect more and experience better. KIMLEY-HORN 140+ offices nationwide 8,500+ staff nationwide #1 among Building Design + Construction’s Top 75 Engineering Firms FULL-SERVICE CONSULTING Brickell City Centre, Miami, FL Due Diligence and Site Assessment Master Planning Site Civil Design Landscape Architecture Mechanical, Electrical, and Plumbing Energy Efficiency and Commissioning Transportation and Traffic Roadway Utilities and Water Resources Structural Engineering Building Structures Environmental Protected Species Survey Environmental Phase I and II ESAs Parking Garages Parking Planning Aviation, Airspace, Aerospace Transit Zero Emission Vehicles (ZEV) 242 1316 Resorts World, Las Vegas, NV St. Pete Pier, St. Petersburg, FLMiami Worldcenter, Miami, FL Allegiant Stadium, Las Vegas, NV Glasshouse Orlando, FLAT&T Discovery District, Dallas, TX KIMLEY-HORNMARKETS EXPERIENCED AND LICENSED IN All 50 States Truist Park and The Battery Mixed-Use Development, Atlanta, GA Mixed-Use Multifamily and Single-Family Commercial Retail Sports and Recreation Hospitality and Resorts Themed Entertainment Aquatics Urban Design Industrial Healthcare Senior and Assisted Living Office and Corporate Campus Higher Education and K-12 Civic, Cultural, and Municipal Public Infrastructure Solar Energy and Power Delivery Aviation and Aerospace 243 1317 RiversEdge, Jacksonville, FL Radius, Orlando, FL 545 Wyn, Miami, FL 360 Rosemary, West Palm Beach, FL The Underline, Miami, FLWater Street District, Tampa, FL KIMLEY-HORNTHROUGHOUT FLORIDA 1,600 EMPLOYEES Tampa St. Petersburg Ocala Jacksonville Tallahassee Panama City Beach Orlando Lakeland Sarasota Vero Beach Boca-Delray Fort Lauderdale Miami Fort Myers Gainesville Melbourne Guaynabo, Puerto Rico Daytona Beach West Palm Beach WPB Downtown Naples #1 of 25 for Retail #1 of 25 for Multi-Unit Residential #2 of 10 for Sports #3 of 10 for Entertainment #2 of 20 for Mixed-Use 2024 Engineering News-Record 244 1318 List of Kimley-Horn Projects Palm Beach County • Ocean One, Boynton Beach, FL • Broadstone Boynton Beach, Boynton Beach, FL • Boynton Beach Town Square, Boynton Beach, FL • Logan Ranch Residential, Boynton Beach, FL • Legacy at Boynton, Boynton Beach, FL • Boynton Beach Mall, Boynton Beach, FL • Ambassador Edgewater, Town of Palm Beach, FL • Northwood Commons, West Palm Beach, FL • The Villas at Tuttle Royale, Royal Palm Beach, FL • Alton Town Center, Palm Beach Gardens, FL • The Bristol Palm Beach, West Palm Beach, FL • Valencia Pointe, Boynton Beach, FL • Catalina Center, Boynton Beach, FL Broward County • Rosewood Residences, Hillsboro Beach, FL • Vista Clara Apartments, Deerfield Beach, FL • Southport Pembroke Tower II, Pembroke Pines, FL • Dania Pointe, Dania Beach, FL • Motif at Flagler Village, Fort Lauderdale, FL • Hillcrest Country Club, Hollywood, FL • Pembroke Lakes, Pembroke Pines, FL • Oakland Park Residential, Oakland Park, FL • Diplomat Hollywood Residential Towers, Hollywood, FL • Gables Residential - Weston Bonaventure, Weston, FL • St. Joseph Manor, Pompano Beach, FL • Rolling Oaks, Southwest Ranches, FL 245 1319 Education »Bachelor of Science, Civil Engineering, Purdue University Credential License »Professional Engineer in Florida, #67505 »Professional Engineer in California, #81664 Leadership in Energy and Environmental Design »Accredited Professional (LEED AP) Building Design + Construction (BD+C), #10536265 Special Qualifications »Extensive experience in project management of large and small land development and infrastructure projects »Efficient design and construction administration »Design of water, sewer, and drainage facilities »Successful client interface; managing expectations to deliverables »Skilled in overhead to underground utility conversions Joshua (Josh) Horning, PE, LEED AP Civil Engineer Josh is a civil engineer with 21 years of varied project experience throughout all project phases with a focus on private sector land development. Josh has successfully provided project management, design, and construction administration services for large and small land development and infrastructure projects across Florida and California. Josh’s area of expertise lies in comprehensive site design, including water, sewer, and drainage facilities, as well as dry utility undergrounding and coordination. He has a proven track record of outstanding service to clients ranging from government municipalities to big-box retail outlets. Relevant Experience Town Square Residential, Boynton Beach, FL — Project manager. Kimley-Horn is currently providing full civil engineering and consulting services for the Town Square Residential redevelopment. The project includes two proposed 8-story mixed-use buildings with 932 residential units, 9,800 SF of retail, and structured parking totaling approximately 1,774 stalls across two 3.8-acre blocks. Kimley-Horn’s scope includes traffic analysis, civil schematic and design development, stormwater management, water and sewer design, permitting, utility coordination, and limited construction phase services. Ocean One, Boynton Beach, FL — Project manager. Kimley-Horn is currently providing plat coordination and development consulting services for Ocean One, an 8-story mixed-use development situated on a 3.71-acre site. The project includes 371 residential units, approximately 25,000 square feet of commercial space, and 633 structured parking spaces. Kimley-Horn’s scope includes preparation and processing of the initial plat submittal package to the City of Boynton Beach, coordination of up to two rounds of comments, and support through design-phase and zoning-related meetings. Kimley- Horn is also supporting project coordination through regular team calls and agency meetings, ensuring efficient progress through the permitting and zoning review process. Broadstone, Boynton Beach, FL — Project manager. Kimley-Horn is currently providing comprehensive civil engineering services for the Broadstone Boynton Beach development, a 276-unit multifamily residential project with retail space and amenities. The project includes an 8-story apartment building, parking garage, retail areas, and landscaped amenity spaces across approximately 2.76 acres. Kimley-Horn’s scope includes site planning, traffic analysis, stormwater and utility design, permitting, FEMA floodplain coordination, and construction phase services. The team is also supporting offsite utility design and regulatory agency coordination with entities including FDOT, SFWMD, and Palm Beach County Health Department. Northwood Commons, West Palm Beach, FL — Project manager. Kimley-Horn is providing civil engineering services for the redevelopment of a 3.3-acre site in West Palm Beach into a mixed-use project consisting of four multi-story residential buildings, a two-level parking garage, 350 residential units, and over 46,000 SF of retail space. Services include utility coordination, on-site and off-site civil design, stormwater management, traffic impact analysis, landscape architecture, and preparation of permit and construction documents in coordination with the project architect and MEP consultants. Ambassador Edgewater, Town of Palm Beach, FL — Project engineer. Kimley-Horn is providing full civil and traffic engineering services for a luxury residential development consisting of three 5-story condominium buildings connected by a subterranean garage and pedestrian tunnel under S Ocean Boulevard. Services include schematic design, utility coordination, roadway shift design, tunnel and lift station design, permitting with multiple agencies, and construction phase support. Vista Clara, Deerfield Beach, FL — Project manager. Kimley-Horn is providing professional services for a 326-unit luxury apartment complex on an 8-acre site adjacent to the Hillsboro Canal. The project includes two parking garages, amenity spaces, a seawall, and boat slips for resident valet mooring. Scope includes on-site water, sewer, and stormwater improvements, off-site water main and lift station upgrades, and coordination of waterside improvements requiring extensive environmental permitting through Broward County, DEP, and SFWMD.246 1320 247 1321 ▪ Corporate Profile ▪ Resume / License – Ryan O. Thomas City View Tab 5 Thomas Engineering Group, Inc. Civil Engineer 248 1322 Offices: TAMPA 1502 W. Fletcher Ave. Suite 101 Tampa, FL 33612 Tel: 813-379-4100 FORT LAUDERDALE 6300 NW 31st Avenue Fort Lauderdale, FL 33309 Tel: 954-202-7000 STUART 840 SE Osceola Street. Stuart, FL 34994 Tel: 772-888-3139 Ryan O. Thomas, PE Founder and President Ryan is the President of Thomas Engineering Group. His duties include day-to-day management of operations along with client and project development including ongoing client contact throughout projects, detailed design management, and overseeing permitting of projects. Ryan has over 20 years of experience in all aspects of site plan, subdivision and miscellaneous development- related engineering projects throughout Florida. His project experience includes a variety of municipal, commercial, mixed use, multi-family and residential properties. COMPANY OVERVIIEW Thomas Engineering Group is a multi- disciplined consulting engineering firm with a staff of over 35, including experienced licensed professionals. Our firm has provided quality civil engineering, surveying, planning, landscape architecture, project management and related site design services throughout Florida for over 20 years. We continually demonstrate excellence in developing project design criteria documents and in adhering to tight project budgets and schedules, minimizing the need for change orders. Through our 3 offices spanning Florida, we assist our clients in navigating the land development process from site evaluation and due diligence to project completion. We strive to understand our clients’ business to effectively assist them in meeting their development and financial goals, providing consistent value through the development process. Over the years, our commitment to quality and customer service remains constant. Our best working relationships range from the largest corporations and developers in the world to single, stand alone businesses, from individual sites to program development work. 249 1323 EXAMPLE PROJECTS The American Express Corporate Center is a 40-acre site located at the corner of SW 136th Ave & Sunrise Blvd in Sunrise, FL. Development of the site will include construction of three equal size buildings consisting of a total of 500,000 SF +/- with surface parking and a possible parking structure. American Express Sunrise, FL The site will contain related site amenities and improvements inclusive of parking, access roadways, landscaping, lighting, utilities and stormwater management facilities. Thomas Engineering Group will provide Master Site Plan, Engineering, Permitting and Construction Observation Services Transit Village is a $300 million mixed-use hub surrounding the station at the CSX Railroad track, that houses Tri-Rail, Amtrak and buses, in the heart of downtown West Palm Beach. The project consists of retail, dining entertainment, multifamily residential, an office tower as well as a hotel. Transit Village West Palm Beach, FL The individual buildings comprise: •25-story apartment complex hosting 408 residential units, at least 38 of those “work force” units. A separate building would feature 12 “live-work” townhouses. •13-story, 300-room hotel; •21-floor building with 308,000 square feet of top-end “Class A” office space; •The complex also will host 33,000 square feet of neighborhood and transit-themed retail. METROPICA is a 65-acre, mixed- use development project that is positioned to become the new “urban core” of the City of Sunrise, Florida (located at the corner of NW 136th Ave & Sunrise Blvd). The development has been conceived as a unique, up-scale experience that will appeal to professionals and residents alike who are looking for an “urban” flavor in an otherwise, suburban landscape. Metropica Sunrise, FL The site will contain related site amenities and improvements inclusive of parking, access roadways, landscaping, lighting, utilities and stormwater management facilities. Thomas Engineering Group is currently providing Master Site Plan, Engineering, Permitting and Construction Observation Services Website: http://livemetropica.com/ Harbourside Jupiter, FL Harbourside is a 10+/- acre multi-use development. Consists of 5 multi-story buildings inclusive of: •Parking garages •Ground floor retail and restaurants, •Office use •Wyndham Hotel •Project is adjacent to the intracoastal water way •Town of Jupiter's prominent Riverwalk facilities were extended through the development. •Large amphitheater and gathering areas within on-site open space are included for the enjoyment of the public. •Site design included construction of internal roadways to the development, both public and private, drainage system incorporating underground storage vessels, a looped water system for drinking and fire needs. In addition, a public sanitary lift station was installed with supporting gravity and force mains connecting to the Loxahatchee River Districts system. •Website: http://harboursideplace.com/250 1324 Ryan O. Thomas, P.E. President rthomas@thomaseg.com Education Bachelor of Science Civil, Geotechnical & Environmental Engineering Rensselaer Polytechnic Institute Bachelor of Science Mathematics & Physics Oneonta State University Professional Licenses Florida Professional Engineer #53891 Professional Affiliations American Society of Civil Engineers International Council of Shopping Centers Sigma Pu Sigma (Physics Honor Society) Ryan is the President of Thomas Engineering Group. His duties include day-to-day management of operations along with client and project development including ongoing client contact throughout projects, detailed design management, and overseeing permitting of projects. Ryan has over 20 years of experience in all aspects of site plan, subdivision and miscellaneous development-related engineering projects throughout Florida. His project experience includes a variety of municipal, commercial, mixed use, multi-family and residential properties. Ryan provides design and construction management services for public and private civil engineering projects. These services include the design of sanitary sewer systems, sanitary pump stations, water distribution systems, storm water management systems, roadway design, preparation of contract documents and specifications and construction inspections. He has extensive expertise in earthwork modeling, stormwater management, and CADD design from preliminary to final plans. Ryan’s specific design experience includes site planning, conceptual layouts and traffic circulation, storm sewer design, sanitary sewer design including gravity and force mains, stormwater management including retention and detention systems, flood plain and stream encroachment analysis, horizontal and vertical roadway alignments, grading, preparation of construction details, earthwork analysis, lighting and landscape design, preparation of soil erosion and sediment control plans, and other miscellaneous related engineering design fields. In addition to preparation of construction plans, Ryan is responsible for all stages of permitting through local, county, state, and federal agencies. Ryan has testified as an expert in over 100 Florida municipalities before Planning & Zoning Boards & Municipal Councils/ Commissions. 251 1325 252 1326 Development Amenities Clubroom Exercise Room Business Center/Computer Room Access Controlled Building & Security Cameras On-site Professional Property Management On-site Maintenance Personnel Development will meet National Green Building Certification Standards (NGBS) Unit Amenities Energy Star certified refrigerator, dishwasher, bedroom ceiling fans, bathroom ventilation fans & A/C Full-size range & oven with over-the-range microwave, garbage disposal & built-in dishwasher Impact resistant windows Wired for high-speed internet & cable TV Washer/dryer in all units City View Tab 6 – Description of Proposed Improvements & Costs (Sources & Uses) City Place Dania Beach, Florida 33004 City Place Dania Beach, Florida 33004 253 1327 Estimated Initial Rent & Income Limits (SCENARIO 1 – 4%HC) Unit Type1 Set-Aside (% of AMI)2 Resident Portion of Rent (Max)2,3,5 Income Limit at Move-in2,4 1/1 60%$1,126 $56,160 2/2 $1,355 $63,120 1/1 50%$906 $46,800 2/2 $1,092 $52,600 City View Estimated Rents & Income Limits The proposed development would consist of 90 units; mid-rise (6 stories) design.1 Notes: 1.Building height, number of units & unit mix/type to be determined through site plan submittal/review process. 2.Elderly household rents will not exceed 30% of the annual income of each household, as applicable. Remaining rent to be paid by rental assistance payments. The above rent & income limits were issued by FHFC for Palm Beach County, as adjusted for family size, released by HUD on 4/1/25 (subject to annual adjustments) & represent maximum amounts. Final limits may vary & will be determined by funding sources. 3.Utility allowances have been deducted from the rents. 4.Assumption: 1 bedroom – 2 person occupancy; 2 bedroom – 3 person occupancy. 5.Total estimated rents, including Rental Assistance, are as follows: (1) 1/1 - $1,881/mo; (2) 2/2 - $2,195/mo. Rental Assistance is subject to procurement, HUD Approval & Subsidy Layering Review (as applicable). Estimated Initial Rent & Income Limits (SCENARIO 2 – 9%HC) Unit Type1 Set-Aside (% of AMI)2 Resident Portion of Rent (Max)2,3,5 Income Limit at Move-in2,4 1/1 60%$1,126 $56,160 2/2 $1,355 $63,120 1/1 33%$533 $30,888 2/2 $644 $34,716 254 1328 City View Potential Funding Scenarios (and Corresponding Local Gov’t. Assistance) Note: 1.4% Housing Credits are available on a non-competitive basis. Tax-Exempt bonds & 4% Housing Credits will be combined with Palm Beach County and/or FHFC SAIL funding. The award of Palm Beach County and/or FHFC SAIL funding is subject to a competitive process. 2.Above information is preliminary & subject to change. •City of Boynton Beach and/or CRA: $4.35MM (Request) •Palm Beach County Loan and/or FHFC SAIL: $12.140MM •Non-Competitive Florida Housing Finance Corporation (FHFC) 4% Housing Credits (HC) & Tax-Exempt Bonds •City of Boynton Beach and/or CRA: $2.4MM (Request) •Palm Beach County Loan: $4.7MM •Competitive Florida Housing Finance Corporation (FHFC) 9% Housing Credits (HC) •Conventional Debt SCENARIO 11 4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt SCENARIO 2 9% Housing Credits, Conventional & Subordinate Debt 255 1329 City View Sources & Uses Permanent Sources: 1st Mortgage (See Note 1) $12,000,000 Palm Beach Co and/or FHFC SAIL $12,140,000 City of Boynton Beach and/or CRA $ 4,350,000 Deferred Developer Fee $ 1,072,947 Tax Credit Equity (4% HC) $19,472,053 TOTAL PERMANENT SOURCES $49,035,000 Total Uses: $49,035,000 Note 1: Anticipated Construction Loan: $25,000,000 SCENARIO 1 4% Housing Credits (HC), Tax-Exempt Bonds & Subordinate Debt Permanent Sources: 1st Mortgage (See Note 1) $13,585,000 City of Boynton Beach and/or CRA $ 2,400,000 Palm Beach County $ 4,700,000 Deferred Developer Fee $ 427,639 Tax Credit Equity (9% HC) $26,387,361 TOTAL PERMANENT SOURCES $47,500,000 Total Uses: $47,500,000 Note 1: Anticipated Construction Loan: $23,000,000 SCENARIO 2 9% Housing Credits (HC), Conventional & Subordinate Debt Notes: 1.Above figures are preliminary & subject to change. 2.Scenario 1 costs are higher than Scenario 2 costs due to additional financing & legal expenses. 256 1330 City View 1st Year Stabilized Operating Proforma Income: Residential Rent $ 2,167,128 Other Income $ 11,880 Total Income $ 2,179,008 Less Vacancy (5%) ($ 108,950) Effective Gross Income $2,070,058 Operating Expenses: Mgmt. Fee & Admin (incl. Payroll) $ 291,000 Water & Sewer / Electric / Elevator $ 70,650 Lawn / Pest Control / Repairs & Maintenance $ 56,700 Legal / Acct. / Licenses & Fees / Mkting $ 26,500 Insurance & Taxes (Non-Ad Val / Pers. Ppty) $ 286,750 Replacement Reserves $ 27,000 Total Expenses $ 758,600 Net Oper. Income: $1,311,458 Net Oper. Income: $ 1,311,458 Debt Service (incl. Mandatory & Cash Flow Dependent Pymts): ($ 1,067,019) Net Cash Flow: $ 244,439 Mandatory Debt Svce. Cover (DSC): 1.39 DSC (Incl. Debt subject to avail. cash flow) 1.23 Net Oper. Income: $ 1,311,458 Debt Service: ($ 1,146,150) Net Cash Flow: $ 165,308 Mandatory Debt Svce. Cover: 1.19 DSC (Incl. Debt subject to avail. cash flow) 1.14 Note: Above figures are subject to change. SCENARIO 1 & 2 SCENARIO 2 9% Housing Credits, Conventional & Subordinate Debt SCENARIO 1 4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt 257 1331 Financing Experience with Private Institutions -Landmark has long-standing relationships with JPMorgan Chase, Raymond James, Wells Fargo, SunTrust Bank (now Truist), Citibank, and many other financing sources. Lender Loans Equity JPMorgan Chase $22 MM Not Applicable Raymond James Not Applicable $27 MM Wells Fargo $65.1 MM $210.7 MM SunTrust (Now Truist )$59.5 MM $72.6 MM Citibank $189 MM Not Applicable 258 1332 FR Borrower: City View Associates, Ltd. General Partner: Pine Ridge Holistic Living Center, Inc., a not-for-profit corporation affiliated with the West Palm Beach Housing Authority Limited Partners: Landmark City View, LLC, affiliated with Landmark Developers, Inc. WPBHA City View, LLC, affiliated with the West Palm Beach Housing Authority Loan to be funded during construction. Collateral: Subordinate to (1) first mortgage and (2) FHFC SAIL and/or Palm Beach County. Interest Rate: 0.00% Forgivable after 30 years from execution of the note. Loan in the amount of i ) $4,350,000 (Scenario 1) or ii) $2,400,000 (Scenario 2) Our Request Proposed Loan Terms 259 1333 City View Tab 7 Conceptual Site Plan, etc. ▪Conceptual Rendering ▪Preliminary Site Plan ▪Preliminary Floor & Building Plans 260 1334 2611335 DN S DYHWVWVWVWV WV S GASGASGASGASGASGASGASGAS GAS GAS GAS GAS GAS GAS GAS GAS OEOEOEOEOEOEOEOEOEOEOEOEOEOEOEOEGASGAS LOT 6 BLOCK 'C'LOT 5 BLOCK 'C' LOTS 1,2,3 AND 4, bLOCK C OF PENCE SUBDIVISION NO. 1, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 1, PAGE 33 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, LESS THE EAST 13 FEET OF LOTS 1 AND 4 FOR RIGHT OF WAY STATE ROAD NO. 5 (US NO. 1) AS SHOWN IN ROAD PLAT BOOK 3 ON PAGE 11. LEGAL DESCRIPTION AREA TOTAL: COMMERCIAL AREA @ FEDERAL HGW 5,465 S.F COMMERCIAL AREA: 3,306 S.F 60,49% PROPOSED COMMERCIAL AREA @ SE 4TH STREET AREA TOTAL: 2,385 S.F COMMERCIAL AREA: 1,485 S.F 62,26% PROPOSED(50% MIN) (70% MIN)SE 4TH STREETU.S. HIGHWAY NO.1 (STATE ROAD NO.5)ELECTRIC PANEL (EXISTING) WOOD UTILITY POLE (EXISTING) FIRE HYDRANT AND WATER VALVE (EXISTING) TELEPHONE RISER (EXISTING) WOOD UTILITY POLE (EXISTING)PROPERTY LINE (EXISTING) WATER METER (EXISTING)14'-3''(8' MIN. ACTIVE AREA)CENTER LINEEDGE OF PAVING SE 5TH AVENUECENTER LINE CENTER LINEEXISTING PROPERTY LINE (BEFORE 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) 5' STREET TREE ZONE WOOD UTILITY POLE (EXISTING)10' PROP. SIDEWALK5' STREET TREE ZONE(SETBACK)10'-0'' DEDICATION 10' PROPOSED SIDE WALK 8' ACTIVE AREAGREEN AREA20' MIN. 20' - 0" ALUM. FENCEPL N 01° 19'-08'' W 151.30'PL N 01° 19'-08'' W 151.15'PL S 89° 33'-42'' W 347.03' PL S 89° 32'-13'' E 347.03' 76 OFF-STREET PARKING SPACES +1 ON-STREET 77 PARKING SPACES TOTAL 13 13 16 COMMERCIAL AREA 3,306 S.F. COMMERCIAL AREA 1,485 S.F. 6 LOBBY TRASH ROOM DOMESTIC PUMP ROOM 13 SAFE SIGHT TRIANGLE 25'x25' SAFE SIGHT TRIANGLE 25'x25' ALUM. GATE ALUM. FENCE FIRE PULL-OFF LANE MAIL/PARCEL DELIVERY PARKING SPACE (FIGURE 18: BOYNTON BEACH BLVD. PLAN FROM SEACREST BLVD. TO FEDERAL HWY.)ELEVELEC.CLOSETEXIT ONLY OFF-STREET PARKING WILL BE EFFECTIVELY SCREENED FROM THE PUBLIC RIGHT-OF-WAY VIEW WITH THE USE OF ALUMINUM LOUVERS AND DECORATIVE LANDSCAPING. (2' VALLEY GUTTER)STAIR5' - 0"10' - 0" 2' - 6" 0' - 6"8' - 0"2' - 0"10' PROP. SIDEWALK5' STREET TREE ZONEEXISTING PROPERTY LINE (TO REMAIN) (6'' CURB) 1 0' - 6"2' - 6"10' - 0"8' - 0"8' ACTIVE AREA PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION)10' EASEMENT10' EASEMENT 10' EASEMENT2 25' - 0" 10'-0'' X 20'-0'' LOADING / UNLOADING ZONE17' - 4"6' - 10"2' - 6" 10' - 0"11' - 7" 1' - 0" 9' - 0" 1' - 1" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 23' - 6" 1' - 6" 17' - 0"18' - 0"24' - 0"18' - 0"18' - 0"24' - 0"18' - 0"GENERATOR ROOM 2' - 6" 1 0 ' - 0 " 8' - 0 "25' - 0"25' - 0"25' - 0"10' - 0"10' - 0"10' - 0" 0' - 6" 2' - 6 " 10' - 0"8' - 0" 12' - 6'' LINEAR SKY PLAZA PARK 9' - 0" 10' - 0" 9' - 0" 13 14' MIN CLEAR HEIGHT FIRE PUMP ROOM12' - 6"13' - 8"40' - 0" LIFT LIFT LIFT NAVD 10.00' 10' - 0" NAVD 5.86' NAVD 10.00' NAVD 10.00' TRANSFORMER PAD 25' - 0" LIFT 24' - 0" NAVD 7.64'70' - 0"31' - 4" 21' - 6"5' - 0"37.00' 13.00' 20.00' 50.00' 50.00'15.00'R.O.W.25.00'15.00'30.00'22' - 0"NAVD 8.41' NAVD 8.26' NAVD 5.69' 4' - 6"4' - 6"F.D.C 25' - 0"17' - 0"26' - 9 1/2"36' - 10"40' - 0" 21' - 3 3/4"STAIR9' - 0"15' - 6"20' - 2"15' - 0 " BUILDING OUTLINE BUILDING OUTLINE COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081 DATE: DRAWN CR SCALE REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSITE PLAN A1.02 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435SCALE: 3/32" = 1'-0" 3/32" = 1'-0" N SCALE: 1/16" = 1'-0" SITE PLAN 262 1336 COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMESCALE: N.T.SBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE N.T.S PROJECT LOCATED AT:  REV.REV. ISSUE ARCHITECT BURGOS LANZA & ASSOCIATES 1248 S ALHAMBRA CIRCLE CORAL GABLES, FL 33146 (786)554-9035 PBURGOS@BURGOSLANZA.COM WW.BURGOSLANZA.COM FOR FORLANDMARK DEVELOPERS, INC.LANDMARK DEVELOPERS, INC.COVER SHEET A0.00 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435S FEDERAL HWY. & SE 5TH AVE. BOYNTON BEACH, FL 33435 PRELIMINARY SUBMITTAL 07/03/24 CITY VIEW 263 1337 COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMESCALE: N.T.SBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE N.T.S  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCINDEX OF DRAWINGS A0.01 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 334351 10.27.23 2 10.28.23 3 10.29.23 INDEX OF DRAWINGS A0.00 COVER A2.01 A2.02 A2.03 A2.04 A2.05 A2.06 GROUND LEVEL - BUILDING PLAN BUILDING #1 2ND LEVEL -BUILDING PLAN 3RD LEVEL - BUILDING PLAN BUILDING #1 4TH LEVEL - BUILDING PLAN BUILDING #1 5TH LEVEL - BUILDING PLAN BUILDING #1 6TH LEVEL - BUILDING PLAN BUILDING #1 A1.01 A1.02 A1.07 A1.06 A1.05 A1.04 A1.03 SITA DATA SITA PLAN SITE PLAN DIAGRAMS FIRE HYDRANTAS LOCATION MAP NOT USED NOT USED NOT USED A0.01 INDEX OF DRAWINGS 264 1338 PROJECT INFORMATION: 54 UNITS A (1B/ 1B) 60% 36 UNITS B (2B/ 2B) 40% UNIT MIX (90 UNITS) BUILDING ( 6 STORIES) LEVEL UNIT A UNIT B TOTAL THIRD GROUND 54 FIFTH FOURTH SECOND TOTAL - - 36 - 1611 20 SIXTH 90 PARKING COUNT OFF-STREET PARKING ON-STREET PARKING PARKING PROVIDE 76 1 77 7 20 14 20 5 12 12 12 8 8 8 7 COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMESCALE: N.T.SBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE N.T.S  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSITE DATA A1.01 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435N N.T.S SITE DATA Copy 1 265 1339 DN S DYHWVWVWVWV WV S GASGASGASGASGASGASGASGAS GAS GAS GAS GAS GAS GAS GAS GAS OEOEOEOEOEOEOEOEOEOEOEOEOEOEOEOEGASGAS LOT 6 BLOCK 'C'LOT 5 BLOCK 'C' LOTS 1,2,3 AND 4, bLOCK C OF PENCE SUBDIVISION NO. 1, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 1, PAGE 33 OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, LESS THE EAST 13 FEET OF LOTS 1 AND 4 FOR RIGHT OF WAY STATE ROAD NO. 5 (US NO. 1) AS SHOWN IN ROAD PLAT BOOK 3 ON PAGE 11. LEGAL DESCRIPTION AREA TOTAL: COMMERCIAL AREA @ FEDERAL HGW 5,465 S.F COMMERCIAL AREA: 3,306 S.F 60,49% PROPOSED COMMERCIAL AREA @ SE 4TH STREET AREA TOTAL: 2,385 S.F COMMERCIAL AREA: 1,485 S.F 62,26% PROPOSED(50% MIN) (70% MIN)SE 4TH STREETU.S. HIGHWAY NO.1 (STATE ROAD NO.5)ELECTRIC PANEL (EXISTING) WOOD UTILITY POLE (EXISTING) FIRE HYDRANT AND WATER VALVE (EXISTING) TELEPHONE RISER (EXISTING) WOOD UTILITY POLE (EXISTING)PROPERTY LINE (EXISTING) WATER METER (EXISTING) 14'-3''(8' MIN. ACTIVE AREA)CENTER LINEEDGE OF PAVING SE 5TH AVENUECENTER LINE CENTER LINEEXISTING PROPERTY LINE (BEFORE 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) 5' STREET TREE ZONE WOOD UTILITY POLE (EXISTING)10' PROP. SIDEWALK5' STREET TREE ZONE(SETBACK)10'-0'' DEDICATION 10' PROPOSED SIDE WALK 8' ACTIVE AREAGREEN AREA20' MIN. 20' - 0" ALUM. FENCEPL N 01° 19'-08'' W 151.30'PL N 01° 19'-08'' W 151.15'PL S 89° 33'-42'' W 347.03' PL S 89° 32'-13'' E 347.03' 76 OFF-STREET PARKING SPACES +1 ON-STREET 77 PARKING SPACES TOTAL 13 13 16 COMMERCIAL AREA 3,306 S.F. COMMERCIAL AREA 1,485 S.F. 6 LOBBY TRASH ROOM DOMESTIC PUMP ROOM 13 SAFE SIGHT TRIANGLE 25'x25' SAFE SIGHT TRIANGLE 25'x25' ALUM. GATE ALUM. FENCE FIRE PULL-OFF LANE MAIL/PARCEL DELIVERY PARKING SPACE (FIGURE 18: BOYNTON BEACH BLVD. PLAN FROM SEACREST BLVD. TO FEDERAL HWY.)ELEVELEC.CLOSETEXIT ONLY OFF-STREET PARKING WILL BE EFFECTIVELY SCREENED FROM THE PUBLIC RIGHT-OF-WAY VIEW WITH THE USE OF ALUMINUM LOUVERS AND DECORATIVE LANDSCAPING. (2' VALLEY GUTTER)STAIR5' - 0"10' - 0" 2' - 6" 0' - 6"8' - 0"2' - 0"10' PROP. SIDEWALK5' STREET TREE ZONEEXISTING PROPERTY LINE (TO REMAIN) (6'' CURB) 1 0' - 6"2' - 6"10' - 0"8' - 0"8' ACTIVE AREA PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION)10' EASEMENT10' EASEMENT 10' EASEMENT2 25' - 0" 10'-0'' X 20'-0'' LOADING / UNLOADING ZONE17' - 4"6' - 10"2' - 6" 10' - 0"11' - 7" 1' - 0" 9' - 0" 1' - 1" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 23' - 6" 1' - 6" 17' - 0"18' - 0"24' - 0"18' - 0"18' - 0"24' - 0"18' - 0"GENERATOR ROOM 2' - 6" 1 0 ' - 0 " 8 ' - 0 "25' - 0"25' - 0"25' - 0"10' - 0"10' - 0"10' - 0" 0' - 6" 2' - 6"10' - 0"8' - 0" 12' - 6'' LINEAR SKY PLAZA PARK 9' - 0" 10' - 0" 9' - 0" 13 14' MIN CLEAR HEIGHT FIRE PUMP ROOM12' - 6"13' - 8"40' - 0" LIFT LIFT LIFT NAVD 10.00' 10' - 0" NAVD 5.86' NAVD 10.00' NAVD 10.00' TRANSFORMER PAD 25' - 0" LIFT 24' - 0" NAVD 7.64'70' - 0"31' - 4" 21' - 6"5' - 0"37.00' 13.00' 20.00' 50.00' 50.00'15.00'R.O.W.25.00'15.00'30.00'22' - 0"NAVD 8.41' NAVD 8.26' NAVD 5.69' 4' - 6"4' - 6"F.D.C 25' - 0"17' - 0"26' - 9 1/2"36' - 10"40' - 0" 21' - 3 3/4"STAIR9' - 0"15' - 6"20' - 2"15' - 0 " BUILDING OUTLINE BUILDING OUTLINE COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081 DATE: DRAWN CR SCALE REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSITE PLAN A1.02 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435SCALE: 3/32" = 1'-0" 3/32" = 1'-0" N SCALE: 1/16" = 1'-0" SITE PLAN 266 1340 COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081 DATE: DRAWN CR SCALE REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSITE PLAN DIAGRAMS A1.03 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435SCALE: N.T.S. N.T.S. 10' EASEMENT 8' ACTIVE AREA 10' SIDE WALK 5' STREET TREE AREA 267 1341 COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081 DATE: DRAWN CR SCALE REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCFIRE HYDRANTAS LOCATION MAP A1.04 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435SCALE: N.T.S. N.T.S.LESS THAN 200'MORE THAN 200' 268 1342 SE 4TH STREETU.S. HIGHWAY NO.1 (STATE ROAD NO.5)CENTER LINESE 5TH AVENUECENTER LINE CENTER LINECOMMERCIAL AREA 3,306 S.F. COMMERCIAL AREA 1,485 S.F. LOBBY TRASH ROOM DOMESTIC PUMP ROOMELEVELEC.CLOSETSTAIRGENERATOR ROOM FIRE PUMP ROOM LIFT LIFT NAVD 10.00' NAVD 5.86' NAVD 10.00' NAVD 10.00' LIFT NAVD 8.41' STAIR10' - 0" 2' - 6" 0' - 6"8' - 0"2' - 0"0' - 6"2' - 6"10' - 0"8' - 0"2' - 6" 10' - 0"2' - 6" 1 0 ' - 0 " 8 ' - 0 "10' - 0"10' - 0"0' - 6" 2' - 6"10' - 0"8' - 0"12' - 6"LIFT 4' - 6"25' - 0"17' - 0"26' - 9 1/2" 21' - 3 3/4" TRANSFORMER PAD 20' MIN. 20' - 0"5' - 0"10' - 0" 2' - 6" 0' - 6"8' - 0"2' - 0"0' - 6"2' - 6"10' - 0"8' - 0"25' - 0"17' - 4"6' - 10"2' - 6" 10' - 0"11' - 7" 1' - 0" 9' - 0" 1' - 1" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 1' - 0" 9' - 0" 9' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 1' - 0" 18' - 0" 1' - 0" 1' - 6" 23' - 6" 1' - 6" 17' - 0"18' - 0"24' - 0"18' - 0"18' - 0"24' - 0"18' - 0"2' - 6" 1 0 ' - 0 " 8 ' - 0 "25' - 0"25' - 0"25' - 0"10' - 0"10' - 0"10' - 0" 0' - 6" 2' - 6"10' - 0"8' - 0" 9' - 0" 10' - 0" 9' - 0"12' - 6"13' - 8"39' - 4" 10' - 0" 25' - 0" 24' - 0"70' - 0"31' - 4" 21' - 6"5' - 0"4' - 5 3/8"4' - 6"25' - 0"17' - 0"26' - 9 1/2"36' - 10"39' - 1 1/2" 21' - 3 3/4"15' - 6"20' - 2"PROPERTY LINE EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) 10' EASEMENT 10' EASEMENT 10' EASEMENT COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMESCALE: N.T.SBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE N.T.S  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCGROUND LEVEL - BUILDING PLAN A2.01 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435N SCALE: 1/16" = 1'-0" GROUND LEVEL - BUILDING PLAN 269 1343 AMENITY AREA (4,452 S.F.) ELEVMECH ROOM PROPERTY LINE PROPERTY LINE EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) B.O.H TRASH CHUTE #4 UNIT A2 1B/1B #10 UNIT B2 2B/2B #8 UNIT A2 1B/1B #12 UNIT B2 2B/2B #6 UNIT A2 1B/1B #14 UNIT A2 1B/1B #16 UNIT A2.1 1B/1B #15 UNIT A1.1 1B/1B #5 UNIT A1.1 1B/1B #13 UNIT B1.1 2B/2B #7 UNIT A1.1 1B/1B #11 UNIT A1.1 1B/1B #3 UNIT B1.1 2B/2B #9 UNIT A1.1 1B/1B STAIR#2 UNIT B2 2B/2B #1 UNIT A1.1 1B/1B 16' - 11"49' - 10"23' - 0" 3' - 2" 10' - 0"110' - 9"STAIR 28' - 10" 10' EASEMENT 10' EASEMENT 10' EASEMENT4' - 6"4' - 6"5'-0'' SETBACK10'-0'' SETBACKCOPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSCALE: As indicated As indicated 2ND LEVEL - BUILDING PLAN A2.02 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435A100- TYPICAL FLOOR PLAN - GENERAL NOTES N SCALE: 1/16" = 1'-0" 2ND LEVEL - BUILDING PLAN 270 1344 #1 UNIT B2 2B/2B ELECT. ROOM ELEVSTAIR10'-0'' SETBACK#2 UNIT B2 2B/2B MECH FARM #7 UNIT B1.1 2B/2B #3 UNIT A1.1 1B/1B #11 UNIT A1.1 1B/1B #9 UNIT A1.1 1B/1B #16 UNIT B2 2B/2B #8 UNIT A2 1B/1B #14 UNIT B2 2B/2B #6 UNIT B2 2B/2B #4 UNIT B2.1 2B/2B #17 UNIT B1.1 2B/2B #10 UNIT A2 1B/1B #13 UNIT A1.1 1B/1B #12 UNIT A2 1B/1B #15 UNIT A1.1 1B/1B #18 UNIT A2 1B/1B #19 UNIT A1.1 1B/1B #20 UNIT A2.1 1B/1B TRASH CHUTE #5 UNIT A1.1 1B/1B 8' - 0"10' - 3 3/8"8' - 0"8' - 0"17' - 10 1/4"8' - 0" 3' - 4" 5' - 6" STAIR PROPERTY LINE PROPERTY LINE EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) 10' EASEMENT 10' EASEMENT 5'-0'' SETBACK10' - 0"10' - 0"4' - 10"(10' MIN. ACTIVE AREA TO EXTERIOR WALL) (10' MIN. ACTIVE AREA TO EXTERIOR WALL) 10' EASEMENT COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSCALE: As indicated As indicated 3RD LEVEL - BUILDING PLAN A2.03 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435A100- TYPICAL FLOOR PLAN - GENERAL NOTES N SCALE: 1/16" = 1'-0" 3RD LEVEL - BUILDING PLAN 271 1345 ELECT. ROOM ELEVSTAIRTRASH CHUTE #1 UNIT B1.3 2B/2B #2 UNIT B1.1 2B/2B #7 UNIT B1.2 2B/2B #3 UNIT A3 1B/1B #11 UNIT A1.2 1B/1B #9 UNIT A1.2 1B/1B #16 UNIT B1.1 2B/2B #8 UNIT A1.1 1B/1B #14 UNIT B1.1 2B/2B #6 UNIT B1.1 2B/2B #4 UNIT B1.3 2B/2B #17 UNIT B1.2 2B/2B #10 UNIT A1.1 1B/1B #13 UNIT A1.1 1B/1B #12 UNIT A1.1 1B/1B #15 UNIT A1.2 1B/1B #18 UNIT A1.1 1B/1B #19 UNIT A1.2 1B/1B #20 UNIT A3 1B/1B #5 UNIT A1.2 1B/1B STAIR10'-0'' SETBACKPROPERTY LINE PROPERTY LINE EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) 10' EASEMENT 10' EASEMENT 5'-0'' SETBACK (10' MIN. ACTIVE AREA TO EXTERIOR WALL) (10' MIN. ACTIVE AREA TO EXTERIOR WALL) 8' - 0"10' - 3 3/8"8' - 0"8' - 0"10' - 0"17' - 10 1/4"8' - 0"10' - 0"10' - 0"10' EASEMENT COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSCALE: As indicated As indicated 4TH LEVEL - BUILDING PLAN A2.04 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435A100- TYPICAL FLOOR PLAN - GENERAL NOTES N SCALE: 1/16" = 1'-0" 4TH LEVEL - BUILDING PLAN 272 1346 PROPERTY LINE ELECT. ROOM ELEVSTAIRTRASH CHUTE EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) 5'-0'' SETBACK #1 UNIT B1.4 2B/2B #2 UNIT B1.2 2B/2B #7 UNIT B1.2 2B/2B #3 UNIT A3 1B/1B #11 UNIT A1.2 1B/1B #9 UNIT A1.2 1B/1B #16 UNIT B1.2 2B/2B #8 UNIT A1.2 1B/1B #14 UNIT B1.2 2B/2B #6 UNIT B1.2 2B/2B #4 UNIT B1.3 2B/2B #17 UNIT B1.2 2B/2B #10 UNIT A1.2 1B/1B #13 UNIT A1.2 1B/1B #12 UNIT A1.2 1B/1B #15 UNIT A1.2 1B/1B #18 UNIT A1.2 1B/1B #19 UNIT A1.2 1B/1B #20 UNIT A3 1B/1B #5 UNIT A1.2 1B/1B STAIR10'-0'' SETBACKPROPERTY LINE 10' EASEMENT (10' MIN. ACTIVE AREA TO EXTERIOR WALL) (10' MIN. ACTIVE AREA TO EXTERIOR WALL) 8' - 0"10' - 3 3/8"8' - 0"8' - 0"10' - 0"17' - 10 1/4"8' - 0"10' - 0"10' - 0"10' EASEMENT COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSCALE: As indicated As indicated 5TH LEVEL - BUILDING PLAN A2.05 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435N SCALE: 1/16" = 1'-0" 5TH LEVEL BUILDING PLAN 273 1347 STAIR STAIR TRASH CHUTE ELECT. ROOM ELEVROOF BELOW #1 UNIT B1.3 2B/2B #2 UNIT B1.2 2B/2B #5 UNIT A1.2 1B/1B #7 UNIT B1.2 2B/2B #9 UNIT A1.2 1B/1B #10 UNIT A1.2 1B/1B #8 UNIT A1.2 1B/1B #6 UNIT B1.2 2B/2B #4 UNIT B1.4 2B/2B #13 UNIT A1.2 1B/1B #14 UNIT A3 1B/1B #3 UNIT A3 1B/1B #11 UNIT B1.2 2B/2B #12 UNIT B1.2 2B/2B 153' - 8"10'-0'' SETBACKPROPERTY LINE PROPERTY LINE EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) EXISTING PROPERTY LINE (BEFORE 10' DEDICATION) PROPOSED PROPERTY LINE (AFTER 10' DEDICATION) 10' EASEMENT 10' EASEMENT 5'-0'' SETBACK (10' MIN. ACTIVE AREA TO EXTERIOR WALL) (10' MIN. ACTIVE AREA TO EXTERIOR WALL) 8' - 0"10' - 3 3/8"8' - 0"8' - 0"10' - 0"17' - 10 1/4"8' - 0"10' - 0"10' - 0"10' EASEMENT COPYRIGHT 2024 BURGOS LANZA & ASSOCIATESTHE ARCHITECTURAL DESIGN AND DETAIL DRAWINGS ARE THE LEGAL PROPERTY OF BURGOS LANZA ARCHITECTS AND ARE INSTRUMENTSOF SERVICE NOT TO BE REPRODUCE IN WHOLE OR IN PARTS WITHOUT THE EXPRESS WRITTEN CONSENT OF THE SAMEBURGOSBURGOSLANZALANZAARCHITECTS & PLANNERSPABLO BURGOS ARCHITECT AR 0095925BURGOS LANZA & ASSOCIATES(786) 554-90351248 S ALHAMBRA CIRCLECORAL GABLES, FL 33146AIA 38052598WWW.BURGOSLANZA.COMCARLOS LANZA ARCHITECT AR 0016081DATE: DRAWN CR SCALE  REV.REV. ISSUE FORLANDMARK DEVELOPERS, INCSCALE: As indicated As indicated 6TH LEVEL - BUILDING PLAN A2.06 07/03/24CITY VIEW2410 S FEDERAL HWY. & SE 5TH AVE.BOYNTON BEACH, FL 33435N SCALE: 1/16" = 1'-0" 6TH LEVEL - BUILDING PLAN 274 1348 City View Tab 8 Confirmation that Proposed Use is Allowed The City View development will sit on a 1.2+/- acre of land located at the SW corner of the intersection of S. Federal Hwy & S.E. 5th Avenue. The zoning designation for the site is Mixed Use Core (MU-C) which allows 80 dwelling units / acre. Enclosed are the following: ▪ Florida Housing Finance Corporation – Local Government Verification that Development is Consistent w/ Zoning & Land Use Regulations executed by Amanda Radigan (Director, Planning & Development Department) ▪ Excerpts from the Boynton Beach Code of Ordinances – Article III: Zoning Districts & Overlay Zones w/ highlighted sections that apply to the City View development site. 275 1349 07/16/2024 276 1350 Sec. 1. Overview. A. General. Pursuant to Chapter 1, Arcle III, Secon 5.B., any given parcel of land in the city shall have a zoning district that corresponds with the Future Land Use Map (FLUM) classificaon of the Comprehensive Plan. B. Residenal Building and Site Regulaons (Table 3-1). RESIDENTIAL R-1 AAB R-1 AA R-1A R-1 R-2 Duplex R-3 MulIPUD PUD MHPD Density (dwelling units per acre):5 5.5 6 7.5 10 11 Flexible Flexible Flexible Project Area, Minimum (acres)N/A N/A N/A N/A N/A N/A N/A 5+10+ Lot Area per unit, Minimum (square feet):9,000 8,000 7,500 6,000 4,500 4,000 Flexible Flexible 4,200 Lot Frontage, Minimum (feet):90 75 60 60 75 100 Flexible Flexible N/A Living Area, Minimum A/C (square feet):1,800 1,600 1,400 1,200 750 750 Flexible Flexible N/A Lot Coverage, Maximum:45%45%45%50%40%40%50%N/A N/A Floor-Area-Rao (FAR) for Non-Residenal, Maximum: N/A N/A N/A N/A N/A N/A N/A N/A N/A Structure Height, Maximum (feet):30 30 30 30 30 45 45 45 30 Building Setbacks, Minimum (feet): Front:25 25 25 25 25 40 Flexible Flexible 20 Interior side:10 10 7.5 7.5 10 20 Flexible Flexible 5 Corner side:25 25 25 25 25 40 Flexible Flexible 10 Rear:20 20 20 20 25 40 Flexible Flexible 10 Special rear yard setback reducons for 1-story building addions abung: Maximum Percentage of Reducon: I-95 or railroad tracks:50%50%50%50%N/A N/A N/A N/A N/A Intracoastal Waterway (ICWW):50%50%50%50%N/A N/A N/A N/A N/A Lake:50%50%50%50%N/A N/A N/A N/A N/A 13 13 10 10 10 8 12 6 7 6 5 5 8 5 5 4 4 4 4 4 5 5 11 4 4 4 4 4 5 5 11 277 1351 1. The setback reducon provisions shall not supersede any setbacks that are recorded on a plat and shall not be used in conjuncon with the setback reducons allowed by administrave adjustments. 2. An administrave adjustment to reduce a setback may be granted if any first floor addion follows the building line of a legally non-conforming single-family structure, or a building line previously approved by a variance. 3. Exisng and/or planned single-family homes shall conform to the R-1 district requirements. Duplex homes shall conform to the R-2 district requirements. 4. Where orientaon of adjacent lots on both street frontages provides typical front yard setbacks, the corner lot shall provide for front yard setbacks along both streets. When two (2) front yard setbacks are provided for on a corner lot, no rear yard back setback shall be required, only side yard setbacks shall be imposed. 5. Minimum required perimeter setbacks of an IPUD or PUD are flexible except where adjacent to single-family residenal zoning. Where adjacent to single-family zoning, required perimeter setbacks shall resemble the setbacks of the adjacent development based upon the orientaon of structures with said development. Also, perimeter buildings shall have an increased setback of one (1) addional foot for every foot of building height in excess of thirty (30) feet. Project design along abung roadway(s), including setbacks, shall be based on exisng development paerns or applicable recommendaon from the respecve development plan. 6. See Note #5 for addional setback requirements relave to building height. RESIDENTIAL R-1 AAB R-1 AA R-1A R-1 R-2 Duplex R-3 MulIPUD PUD MHPD Golf course:50%50%50%50%N/A N/A N/A N/A N/A Canal wider than 150 feet:50%50%50%50%N/A N/A N/A N/A N/A Canal narrower than 150 feet:33%33%33%33%N/A N/A N/A N/A N/A Commercial/industrial:50%50%50%50%N/A N/A N/A N/A N/A Public/private park:50%50%50%50%N/A N/A N/A N/A N/A Perimeter wall abung non-residenal:50%50%50%50%N/A N/A N/A N/A N/A Administrave Adjustment:Maximum Percentage of Reducon (to standard yard setback): Front yard:20%20%20%20%N/A N/A N/A N/A N/A Side yard:20%N/A 20%20%N/A N/A N/A N/A N/A Rear yard:25%25%25%25%N/A N/A N/A N/A N/A General Notes:1, 2 1, 2 1, 2 1, 2 3 3 9 9 11 13 13 278 1352 7. A lesser building height may be required for compability with adjacent properes. See Note #5 for more setback requirements relave to building height. 8. The minimum lot area shall be seven thousand, five hundred (7,500) square feet and the minimum side yard shall be seven and one-half (7-1/2) feet for properes developed and/or plaed prior to June 13, 1975. 9. Total usable open space shall be calculated at two hundred (200) square feet per dwelling unit (also see Chapter 4, Arcle III, Secon 8.). 10. The maximum allowable density is determined by the applicable future land use classificaon of the Comprehensive Plan. 11. Perimeter building setbacks of the mobile home park district shall mirror the building setbacks of adjacent zoning district(s), but with a minimum of the setback required for a single-family residence. 12. Mul-family dwellings and group homes require four thousand (4,000) square feet. All other uses allowed in R-3 require twenty thousand (20,000) square feet. 13. Parcels within the Heart of Boynton District, as defined by the CRA Community Redevelopment Plan, that (1) were originally plaed or (2) were exisng parcels as of April 1, 2020 may use the development regulaons within this secon to develop a single-family residence: * Parcels located within the Marn Luther King Jr. Overlay District are not eligible. C. Non-Residenal Building and Site Regulaons (Table 3-2). Modified Development Standards* Lot Area per unit, Minimum (square feet):N/A Lot Frontage, Minimum (feet):N/A Living Area, Minimum A/C (square feet):750 Building Setbacks, Minimum (feet): Front:15 Interior side:5 Corner side:5 Rear:10 NON-RESIDENTIAL C-1 C-2 C-3 C-4 CBD PCD M-1 PID REC PU Density (dwelling units per acre):N/A N/ A N/A N/ A N/A N/A N/A Flexible N/A N/A11279 1353 1. Where rear access is not available from a public street or alley, a side yard of not less than fieen (15) feet shall be provided on one (1) side. 2. Where rear yard access is available from a public street or alley, rear yard may be decreased by one-half (1/2) the width of such street or alley, but in no case shall a rear yard be less than ten (10) feet. 3. Where rear yard abuts a railroad right-of-way or any paved alley, the rear yard may be reduced to ten (10) feet. NON-RESIDENTIAL C-1 C-2 C-3 C-4 CBD PCD M-1 PID REC PU Project Area, Minimum (acres)N/A N/ A N/A N/ A N/A 3 N/A 25 N/A N/A Lot Area, Minimum (square feet): 9,00 0 5,0 00 15,0 00 5,0 00 15,0 00 Flexib le 10,0 00 Flexib le 43,5 60 8,000 Lot Frontage, Minimum:75 50 75 50 75 Flexib le Flexib le 100 75 Lot Depth, Minimum:120 100 N/A 100 100 N/A N/A N/A N/A N/A Lot Coverage, Maximum:40%40 %40%40 %75%40%60%60%N/A N/A Floor-Area-Rao (FAR), Maximum:0.40 0.5 0 0.50 0.5 0 N/A 0.50 0.50 0.50 0.50 1.00 Structure Height, Maximum (feet):30 25 45 45 45 45 45 45 45 45 Building Setbacks, Minimum (feet): Front 30 30 20 25 40 15 30 25 25 Rear 20 20 20 20 20 40 20 30 25 25 Interior side 10 15 15 30 15 20 25 15 Corner side 10 20 20 15 8 30 15 30 25 15 Building Setbacks, minimum if abung a residenal district (feet): Rear 30 30 30 30 N/A N/A 30 N/A N/A 30 Interior side 30 30 30 30 N/A N/A 30 N/A N/A 30 Corner side 30 30 30 30 N/A N/A N/A N/A N/A N/ A Waterfront yard N/A N/ A N/A N/ A 8 N/A N/A N/A N/A N/ A 11 11 18 11 4 9 14 13 2 5 6 3 13 1 5 4 13 5 7 13 14 8 280 1354 4. Where rear yard abuts a paved alley or street, then no side setback shall be required. 5. Where rear property line abuts a public street or alley, rear yard setback may be reduced to ten (10) feet and no side yard shall be required, except on corner lots. 6. Where rear property line abuts a public street or alley, rear yard setback may be reduced to eight (8) feet at first floor level, in which case, no setback shall be required at all other floor levels. 7. Eight (8) feet is required at first floor level. No setback shall be required at all other floor levels. 8. Waterfront setbacks shall be measured from the property where the body of water is under different ownership than the subject property line. However, setbacks are measured from the mean high water line if the body of water is under the same ownership as the subject property. 9. Buildings designed with under-story parking shall be allowed a maximum building height of thirty-five (35) feet but only with condional use approval. 10. The total ground floor area of all buildings and accessory structures shall not exceed forty percent (40%) of the plot on which they are constructed. 11. Conguous acres. 12. Residenal uses are only allowed within a mixed use pod of a PID that has a DRI future land use classificaon. Maximum residenal densies shall be in accordance with the thresholds established for the respecve DRI. 13. For hospital buildings, addional setbacks in excess of thirty (30) feet shall be required for any height over forty-five (45) feet. The addional setback shall be measured by calculang three (3) addional feet of setback for each foot in height above forty-five (45) feet, not including minimal rooop equipment that are eligible for height excepon pursuant to Chapter 2, Arcle II, Secon 4. 14. Overlay regulaons may apply. See Secon 8 for regulaons pertaining to overlays. D. Mixed-Use Suburban Building and Site Regulaons (Table 3-3). SUBURBAN MIXED-USE (SMU) DISTRICT Types of Uses Building/Site Regulaons Residenal Single-Family (Aached or Detached) Mul- Family Other Uses (includes Mixed Use) Density (dwelling units per acre)20 20 N/A Project Area, Minimum:SMU district - 10 acres Lot Area per unit, Minimum (square feet):Flexible Flexible 10,0001212281 1355 1. Porches may be placed forward of the build-to line and shall maintain a minimum two (2)-foot setback from any public sidewalk. Porches shall be placed outside of clear sight triangle. Minimum setback for a garage facing or accessing the street is twenty (20) feet. Where less than twenty (20) feet, garage access required from side or rear. 2. Projecng feature(s) such as awnings, balconies, porches and/or stoops may be placed forward of the build-to line and shall maintain a minimum two (2)-foot setback from any public sidewalk. 3. Front yard build-to line along major arterial roads, a maximum of ninety (90) feet inclusive of a twenty-five (25)-foot landscape buffer. 4. The height setback envelope in accordance with Secon 5.C. below shall apply where adjacent to developed single-family residenal zoning districts. 5. One (1) or more projecng feature(s) such as awnings, balconies, colonnades, porches and/or stoops required forward of the build-to line and shall maintain a minimum five (5)-foot clearance from any vehicle use area. SUBURBAN MIXED-USE (SMU) DISTRICT Types of Uses Lot Frontage per Use, Minimum (feet):Flexible 100 100 Living Area, Minimum A/C (square feet):1,200 750 750 Floor Area Rao (FAR), Maximum:N/A N/A 2.5 Structure Height, Minimum (feet):35 35 35 Structure Height, Maximum (feet):35 55 55 Build-to-line (feet): Front:10 10 10 Building Setbacks, Minimum (feet): Side:15 corner 10 end 10 Rear:Flexible 15 Flexible Usable Open Space, Minimum (square feet):30%20%20% Minimum Commercial Building Frontage at Build- to Line: N Congress Avenue, W Boynton Beach Boulevard, Gateway Boulevard 70% Old Boynton Road (Congress Avenue to West City Limits), Winchester Park Boulevard 50% 12 6 7 7 7 4, 8 4, 8 1 2, 3, 4 3, 4, 5 4 4, 12 12 4 4, 12 9, 10 9, 10, 11 9, 11 13, 14, 15 16 282 1356 Elements projecng over a pedestrian walkway shall allow a minimum nine (9)-foot vercal clearance and five (5)- foot horizontal pedestrian clearance. 6. Excluding parking structures. 7. Applies to any façade with arterial roadway frontage. Mulple-story buildings are encouraged along arterial roadways. The intent of this provision is to create the appearance, or simulate the intensity of, a minimum two (2)- story building. Condional use approval required if less than the thirty-five (35) foot minimum. 8. Building heights between fiy-five (55) feet and seventy-five (75) feet may be allowed only for interior buildings (those buildings separated from the property line by another project building or use), if approved as a condional use. 9. Usable open space shall provide acve or passive recreaonal space and shall not be occupied by water bodies, streets, drives, parking areas, or structures other than recreaonal structures. 10. At least fiy percent (50%) of the required usable open space for residenal uses shall be contained in one (1) or more common pooled areas and a rectangle inscribed within each common pooled area shall have no dimension less than seventy-five (75) feet. 11. Up to fiy percent (50%) of the usable open space required for "mul-family" and "other uses" may be hardscaped plazas and public gathering places. 12. To be determined on a case by case basis, depending on the overall project design. 13. Minimum commercial building frontage must be located at the required build-to line. 14. Exempons to required frontage include provisions for access, public usable open space, and site visibility triangles. 15. Commercial frontage must have a minimum depth of forty (40) feet and a minimum ceiling height of thirteen (13) feet. 16. The remainder of the building frontage along the corresponding right-of-way shall be occupied with Acve Uses. E. Mixed Use Urban Building and Site Regulaons (Table 3-4). MIXED USE, URBAN 13, 14 MU-1 MU-2 MU-3 MU-DT MU-4 MU-C Lot Area, Minimum (acres): Public park N/A N/A N/A N/A N/A N/A All other uses 0.50 0.75 1 1 1 1 283 1357 1. May be reduced if frontage extends from right-of-way to right-of-way. 2. Project sites must front on two (2) intersecng rights-of-way and must have an uninterrupted lot frontage. 3. Maximum height on any street frontage is forty-five (45) feet. Maximum height on Intracoastal Waterway is thirty-five (35) feet consistent for a depth of a minimum of thirty (30) feet. Heights may require reducon where adjacent to a single-family zoning district where necessary to achieve the compability requirements of these regulaons. Height bonus may be granted through parcipaon in the Workforce Housing Program. 4. Maximum height reduced to one hundred twenty-five (125) feet for the enre project where property abuts any other MU or residenal zoning district not separated by a right-of-way. 5. Plus one (1) addional foot for each foot of height over thirty-five (35) feet. 6. Where there is an intervening right-of-way of at least forty (40) feet. MIXED USE, URBAN 13, 14 MU-1 MU-2 MU-3 MU-DT MU-4 MU-C Lot Frontage, Minimum (.)100 100 150 150'200 200 Structure Ht., Minimum (.)30 30 30 30 30 30 Maximum Height (.)45 65 75 85 100 150/125 Maximum Density (DUs/Acre)20 40 50 60 60 80 Maximum F.A.R.1.0 2.0 3.0 3.5 4.0 4.0 Build-to-line (.) All sides abung a collector or arterial road Factor of Pedestrian Zone Requirement Abung a Local street 0 0 0 0 0 0 Interior side 0 0 0 0 0 0 Building Setback, Minimum (.) Rear abung: Residenal single-family 25 /0 25 25 25 25 25 Intracoastal waterway 25 25 25 25 25 25 Side abung Residenal single-family 25 /0 25 25 25 25 25 Usable Open Space, Minimum (sq. .)N/A N/A 0.5%2%1%2% 1 2 2 2 2 3 4 10, 12 11 8 7 7 7 7 7 7 7 7 7 7 7 7 7 8 5 5, 6 5 5 5 5 5 5 5 5 5 5 5 5 5, 6 5 5 5 5 5 9 284 1358 7. Buildings and structures shall be located no farther than zero (0) feet from the property line, except in conjuncon with providing required visibility at intersecons, driveways; open spaces and public plazas; or when addional setback is necessary to provide for required “Pedestrian Zone (PZ). Building placement is a factor of roadway type and CRA district, which determines the minimum width and design of the PZ. The minimum PZ is comprised of three components: 1) a five (5) foot wide street tree area, measured from the back of the curb, or future curb on roads requiring a right-of-way dedicaon, 2) an eight (8) foot wide sidewalk (ten-foot (10') wide sidewalk when located within the Downtown District, as defined by the Community Redevelopment Area Plan), free from obstrucons, measured from the centerline of street trees, and 3) an eight-foot (8') wide acve area, measured from the sidewalk. The PZ components may vary in placement order only on sites with conflicng right- of- way regulaons. See Secon 5.C.2 below for addional relief provisions from build-to line requirements. 8. Locally registered historic structures are not required to meet these standards. 9. 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 recreaon. See Chapter 4, Arcle III, Secon 8 for addional regulaons. 10. Projects within the Downtown Transit-Oriented Development District (the Staon Area) shall have minimum densies as follows: MU-1 - fieen (15), MU-2 - twenty-five (25), MU-3 - thirty-five (35), MU-4 - forty-five (45) and MU-C - sixty (60) dwellings per acre. 11. Projects within the Downtown Transit-Oriented Development District (the Staon Area) shall have a minimum FAR as follows: MU-3 - one and three-quarters (1.75), MU-4 (2.0) and MU-C - two (2.0). Maximum FAR for MU-3 may be increased to 3.5 if abung property with the Mixed Use High future land use classificaon. 12. The maximum density for projects within the Downtown Transit-Oriented Development District (the Staon Area) may be increased up to twenty-five percent (25%) over the maximum density allowed in the underlying zoning district through parcipaon in the City’s Workforce Housing Program. 13. Mixed use projects within urban mixed use zoning districts will meet ground floor COMMERCIAL USE requirement by including commercial uses serving the general public such as retail, restaurants, bars, entertainment, personal services, and offices. Resident-only serving amenies such as lounges, gyms, common rooms, and recreaon spaces may be included in addion to the above uses, but shall not fulfill the commercial requirements. 14. Residenal-only projects within MU-1, MU-2, and MU-3 zoning districts located within the Federal Highway District and the Heart of Boynton District, as defined by the Community Redevelopment Area Plan, will meet ACTIVE USE requirement by using design features - including street-fronng access - to allow residenal use to engage with the street and provide the opportunity for interacon. Such features may be combined with building amenies such as lounges, gyms, common rooms, and recreaon spaces on the ground floor. (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; Am. Ord. 17-023, passed 9-19-17; Am. Ord. 19-018,285 1359 passed 7-2-19; Am. Ord. 19-032, passed 10-1-19; Am. Ord. 20-004, passed 3-3-20; Am. Ord. 20-017, passed 7- 7-20; Am. Ord. 20-018, passed 7-7-20; Am. Ord. 22-018, passed 11-14-22, Am. Ord. 22-024, passed 1-3-23) Sec. 5. Mixed-Use (Urban) Districts. A. General. 1. Purpose and Intent. The urban mixed-use zoning districts are intended to implement the CRA Community Redevelopment Plans and to provide for a mixture of land uses, accommodang varying densies and intensies appropriate for each CRA district, and by establishing quality streetscapes and pedestrian environments as part of a compact urban seng. The mixed use districts also support transit ridership, in parcular through higher density and intensity development within the designated Downtown Transit-Oriented Development District (DTODD). Addional standards and requirements of this secon are based on the proximity to the planned train staon, and locaon within the transit core, which is defined as the area extending one-quarter (1/4) mile from the train staon. To ensure compliance with these Regulaons, an applicaon for site plan approval shall be required and reviewed concurrently with any request to rezone lands to a mixed-use (urban) district, except as provided in Secon 2.D.1.e. Also see Chapter 4, Arcle III, Secon 6 for design and compability standards. The objecves of the mixed-use (urban) districts are as follows: a. Support and enhance revitalizaon efforts in the city's tradional commercial core area through the provision of compact, transit-supporve, high density and intensity development; b. Allow for commercial services to be provided to new residenal developments in planned locaons with appropriate densies, heights, and mixtures of uses; c. Create opmal pedestrian environments and spaces through well located public plazas, expanded public sidewalks, maximized internal and external interconnecvity and design of pedestrian-friendly vehicular circulaon areas; d. Allow flexibility in architectural design and building bulk while maximizing compability and harmony with adjoining development; e. Create surrounding areas that complement rather than compete with the downtown; and f. Create higher quality environments for residents, businesses, employees, and visitors as determined by how well the urban centers funcon seamlessly with respect to interconnecvity between the principal uses, acvity centers, and transportaons systems, forming a cohesive and desirable sense of place. 2. Descripon of Districts. a. Mixed Use 1 (MU-1). The MU-1 district implements the Mixed Use Low (MXL) future land use map (FLUM) classificaon of the Comprehensive Plan and has a maximum residenal density of twenty (20) dwelling286 1360 units per acre, except within the Downtown Transit-Oriented Development District (DTODD) (the Staon Area), where the maximum density may be twenty-five (25) dwelling units per acre through parcipaon in the City's Workforce Housing Program. In addion, projects located within the transit core of the Staon Area shall have a minimum density of eleven (11) dwelling units per acre. This minimum density requirement shall be applicable to any such project regardless of whether the site is parally or enrely located within the transit core. b. Mixed Use 2 (MU-2). The MU-2 district implements the Mixed Use Medium (MXM) future land use map (FLUM) classificaon of the Comprehensive Plan and has a maximum residenal density of forty (40) dwelling units per acre, except within the Downtown Transit-Oriented Development District (DTODD) (the Staon Area), where the maximum density may be fiy (50) dwelling units per acre through parcipaon in the Workforce Housing Program. In addion, projects located within the transit core of the Staon Area shall have a minimum density of twenty (20) dwelling units per acre. This minimum density requirement shall be applicable to any such project regardless of whether the site is parally or enrely located within the transit core. c. Mixed Use 3 (MU-3). The MU-3 district implements the Mixed Use Medium (MXM) future land use map (FLUM) classificaon of the Comprehensive Plan and has a maximum residenal density of fiy (50) dwelling units per acre, except within the Downtown Transit-Oriented Development District (DTODD) (the Staon Area), where the maximum density may be sixty two and one-half (62.5) dwelling units per acre through parcipaon in the Workforce Housing Program. In addion, projects located within the transit core of the Staon Area shall have a minimum density of thirty (30) dwelling units per acre. This minimum density requirement shall be applicable to any such project regardless of whether the site is parally or enrely located within the transit core. d. Mixed Use Downtown (MU-DT). The MU-DT district implements the Mixed Use High (MXH) future land use map (FLUM) classificaon of the Comprehensive Plan and has a maximum residenal density of sixty (60) dwelling units per acre, Projects located within the Staon Area shall also have a minimum density of thirty (30) dwelling units per acre. This minimum density requirement shall be applicable to any such project regardless of whether the site is parally or enrely located within the transit core. The intent of this new district is to facilitate the establishment of a downtown redevelopment, while in certain locaons also providing a proper connuum of, or transion in scale between the Mixed Use Core (MU-C), Mixed Use 4 (MU-4), and Mixed Use 3 (MU-3) Districts. This zoning district is to supplant the Central Business District (CBD) in the historic downtown and marina district. e. Mixed Use-4 (MU-4). The MU-4 district implements the Mixed Use High (MX-H) future land use map (FLUM) classificaon of the Comprehensive Plan and has a maximum residenal density of sixty (60) dwelling units per acre, except within the Downtown Transit-Oriented Development District (DTODD) (the Staon Area), where the maximum density may be seventy-five (75) dwelling units per acre through parcipaon in the City's Workforce Housing Program. In addion, projects located within the transit core of the Staon Area shall have a minimum density of thirty five (35) dwelling units per acre. This minimum density requirement shall be applicable to any such project regardless of whether the site is parally or enrely located within the transit core. The intent of this new district is to facilitate the establishment of high density and intensity development nodes at strategic locaons that support downtown redevelopment, while in certain locaon also providing a proper connuum of,287 1361 or transion in scale between the Mixed Use Core (MU- C) and Mixed Use 3 (MU-3) Districts. The district is considered the predecessor to the MU-DT (Mixed Use Downtown) zoning district. f. Mixed Use Core (MU-C). The MU-C district implements the Mixed Use High (MXH) future land use map (FLUM) classificaon of the Comprehensive Plan and has a maximum residenal density of eighty (80) dwelling units per acre, except within the Downtown Transit-Oriented Development District (DTODD) (the Staon Area), where the maximum density may be one hundred (100) dwelling units per acre through parcipaon in the Workforce Housing Program. In addion, projects located within the Staon Area shall have a minimum density of thirty (30) dwelling units per acre. This minimum density requirement shall be applicable to any such project regardless of whether the site is parally or enrely located within the transit core. The district is considered the predecessor to the MU-DT (Mixed Use Downtown) zoning district. 3. Locaon and General Use Requirements. a. General. The mixed use (urban) districts are intended for projects that promote sustainable design with respect to land use, energy conservaon, resource management, and social equity. Rezoning to any of these districts is encouraged for proposed development or redevelopment on lands that are in close proximity to exisng infrastructure, public and alternave transportaon routes and modes, employment centers, community areas, or have sustained or are complicated by environmental contaminaon. The mixed use (urban) zoning districts shall be applied to selected geographic areas east of I-95, where a mixture of uses and building intensies is intended to implement the CRA Community Redevelopment Plan and urban design guidelines including goals involving compact design, transit-oriented development, employment, populaon, transportaon, housing, public facilies, and environmental quality. Permied uses and associated standards for development vary between the zoning districts each reflecng the importance of the district's locaon and relaonship to the downtown. Maximum heights, densies, and intensies of development are regulated to achieve, in part, the intended vision as established within the CRA Community Redevelopment Plan for each of the six planning districts, while ensuring land use compability. A master plan as a whole, comprised of individual buildings and parcels, would be reviewed for compliance with the requirements below pertaining to a residenal component to the project, Acve and Commercial uses on the first floor of a project. b. Mixed Use 1 (MU-1), Mixed Use 2 (MU-2), and Mixed Use 3 (MU-3). (1) In order to complement the revitalizaon efforts in the downtown area, these zoning districts shall be applied to lands consistent with the Comprehensive Plan Future Land Use Map and CRA Community Redevelopment Plan. See the Community Redevelopment Plan for specific recommendaons on locaons and boundaries. (2) These MU districts are appropriate for low- to mid-rise developments that provide for medium density residenal and low to medium intensity commercial and office uses. (3) The review of these applicaons will emphasize compactness, aesthecs and design quality, and physical compability with adjacent land uses.288 1362 (4) Except where limited by Table 3-22 in Chapter 3, Arcle III, Secon 5.C., all new developments within the MU-1 and MU-2 districts that contain a non-residenal use shall front on streets designated as "arterial", or "collector", roadways on the Funconal Classificaon of Roadways Map. All projects within the MU-3 district proposed within the transit core must contain a residenal component, and all projects proposed within these Mixed Use intensity districts that front on an arterial road must have space on the first floor devoted to Commercial or Acve uses. (5) Maximum height may be further limited in certain geographic areas to further applicable redevelopment plans and maintain compability with an abung single-family district. c. Mixed Use-4 (MU-4). (1) The Mixed Use 4 (MU-4) district shall only be applied to land classified as mixed use high (MXH) on the future land use map as recommended by the Community Redevelopment Plan. (2) The MU-4 district is appropriate for high density/intensity development intended for designated nodes. Such developments shall include a mix of uses designed in a compact vercal style. Developments proposed within the Downtown Transit-Oriented Development District (the Staon Area) must contain a residenal component and have space on the first floor devoted to commercial uses for those porons of the project having frontage along a collector or an arterial road. (3) All new developments within this district shall front on streets designated as “arterial” roadways on the Funconal Classificaon of Roadways Map. d. Rezoning of single-family districts. All requests to rezone any single- family residenal district to a mixed use zoning district shall be subject to the following addional requirements: (1) Height, density and intensity of development shall be consistent with the CRA Redevelopment Plan for the applicable district; (2) Rao of lot frontage to depth that is no more than one (1) foot (frontage) to one and one-quarter (1.25) foot (depth); (3) Vehicular access to the property located to minimize impacts on adjacent single-family developments and meet safety standards; and (4) Landscape barriers provided, in accordance with the landscape regulaons of this Code, where the rezoned property abuts single-family residenal zoning. e. Mixed Use Core (MU-C). (1) The Mixed Use C (MU-C) district shall only be applied to lands classified as mixed use-high (MX-H) on the future land use map.289 1363 (2) The MU-C district is appropriate for high density/intensity development intended for the downtown area. Such developments shall include a mix of uses designed in a compact vercal style. Developments proposed within the Downtown Transit-Oriented Development District (the Staon Area) must contain a residenal component and have space on the first floor devoted to commercial uses for those porons of the project having frontage along a collector or an arterial road. (3) All new developments within this district shall front on streets designated as "arterial" roadways on the Funconal Classificaon of Roadways Map. f. Mixed Use Downtown (MU-DT). (1) The Mixed Use Downtown (MU-DT) district shall only be applied to lands classified as mixed use-high (MX-H) on the future land use map. (2) The MU-DT district is appropriate for high density/intensity development intended for the downtown area. Such developments shall include a mix of uses designed in a compact vercal style. Developments proposed within the Downtown, as defined by the CRA Plan, must contain a residenal component and have space on the first floor devoted to commercial uses for those porons of the project having frontage along a collector or an arterial road. (3) All new developments within this district shall front on streets designated as "arterial" roadways on the Funconal Classificaon of Roadways Map. g. Rezoning of single-family districts. All requests to rezone any single-family residenal district to a mixed use zoning district shall be subject to the following addional requirements: (1) Height, density and intensity of development based on the standards indicated in Table 3-22; (2) Rao of lot frontage to depth that is no more than one (1) foot (frontage) to one and one-quarter (1.25) foot (depth); (3) Vehicular access to the property located to minimize impacts on adjacent single-family developments and meet safety standards; and (4) Landscape barriers provided, in accordance with the landscape regulaons of this Code, where the rezoned property abuts single-family residenal zoning. B. Use(s) Allowed. See "Use Matrix, Table 3-28" in Chapter 3, Arcle IV, Secon 3.D. C. Building and Site Regulaons. 1. Building and Site Regulaon (Table 3-22). 290 1364 1. May be reduced if frontage extends from right-of-way to right-of-way. 2. Project sites must front on two (2) intersecng rights-of-way and must have an uninterrupted lot frontage. An excepon shall be made when the interrupon is aributed to the existence of a designated historic site, or a site currently on the List of Potenally Significant Sites. Project design shall maximize compability with the historic site so as to allow the historic site to mutually-contribute to the streetscape. Design consideraons should include transional design elements such as building separaon, façade treatments and open space, and plazas and landscaping. Pedestrian Zone requirements shall be required to connue uninterpreted by the historic site, including streetscape, landscaping and pedestrian amenies. MIXED USE, URBAN MU-1 MU-2 MU-3 MU-DT MU-4 MU-C Lot Area, Minimum (acres): Public park:N/A N/A N/A N/A N/A N/A All other uses:0.50 0.75 1 1 1 1 Lot Frontage, Minimum (.)100 100 150 200 200 200 Structure Ht., Minimum (.)30 30 30 30 30 30 Maximum Height (.)55 65 75 85 100 150/125 Maximum Density (DUs/Acre)20 40 50 60 60 80 Maximum F.A.R.2.5 3.0 3.0 3.5 4.0 4.0 Build-to-line (.): All sides abung a collector or arterial road Factor of Pedestrian Zone Requirement Abung a Local street 0 0 0 0 0 0 Interior side 0 0 0 0 0 0 Building Setbacks, Minimum (.): Rear abung Residenal single-family 25 /0 25 25 25 25 25 Intracoastal waterway 25 25 25 25 25 25 Side abung Residenal single-family:25 /0 25 25 25 25 25 Usable Open Space, Minimum (sq. .)N/A N/A 0.5%2%1%2% 13, 14 1 2 2 2 2 2 3 4 10, 12 11 8 7 7 7 7 7 7 7 7 7 7 7 7 7 8 5 5, 6 5 5 5 5 5 5 5 5 5 5 5 5 5, 6 5 5 5 5 5 9 291 1365 3. Maximum height on any street frontage is forty-five (45) feet. Maximum height on Intracoastal Waterway is thirty-five (35) feet consistent for a depth of a minimum of thirty (30) feet. Heights may require reducon where adjacent to a single-family zoning district where necessary to achieve the compability requirements of these regulaons. Maximum heights may be increased in the DTODD through parcipaon in the Workforce Housing Program. 4. Maximum height reduced to one hundred twenty-five (125) feet for the enre project where property abuts any other MU or residenal zoning district not separated by a right-of-way. 5. Plus one (1) addional foot for each foot of height over thirty-five (35) feet. 6. Where there is an intervening right-of-way of at least forty (40) feet. 7. Buildings and structures shall be located no farther than zero (0) feet from the property line, except in conjuncon with providing required visibility at intersecons, driveways; open spaces and public plazas; or when addional setback is necessary to provide for required “Pedestrian Zone” (PZ). Building placement is a factor of roadway type and CRA district, which determines the minimum width and design of the PZ. The minimum PZ is comprised of three (3) components: 1) a five (5) foot wide street tree area, measured from the back of the curb, or future curb on roads requiring a right-of-way dedicaon; 2) an eight (8) foot wide sidewalk (ten-foot (10') wide sidewalk when located within the Downtown District, as defined by the Community Redevelopment Area Plan), free from obstrucons, measured from the centerline of street trees; and 3) an eight (8) foot wide acve area, measured from the sidewalk. The PZ components may vary in placement order only on sites with conflicng right- of- way regulaons. See Secon 5.C.2. below for addional relief provisions from build-to line requirements. 8. Listed eligible historic structures are not required to meet these standards. 9. 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 recreaon. See Chapter 4, Arcle III, Secon 8 for addional regulaons. 10. Projects within the Downtown Transit-Oriented Development District (the Staon Area) shall have minimum densies as follows: MU-1 - fieen (15), MU-2 - twenty-five (25), MU-3 - thirty-five (35), MU-4 - forty-five (45) and MU-C - sixty (60) dwellings per acre. 11. Projects within the Downtown Transit-Oriented Development District (the Staon Area) shall have a minimum FAR as follows: MU-3 - one and three-quarters (1.75), MU-4 (2.0) and MU-C - two (2.0). 12. The maximum density for projects within the Downtown Transit-Oriented Development District (the Staon Area) may be increased up to twenty-five percent (25%) over the maximum density allowed in the underlying zoning district through parcipaon in the City’s Workforce Housing Program. 13. Mixed use projects within urban mixed use zoning districts will meet ground floor COMMERCIAL USE requirement by including commercial uses serving the general public such as retail, restaurants, bars,292 1366 entertainment, personal services, and offices. Resident-only serving amenies such as lounges, gyms, common rooms, and recreaon spaces may be included in addion to the above uses, but shall not fulfill the commercial requirement. 14. Residenal-only projects within MU-1, MU-2, and MU-3 zoning districts located within the Federal Highway District and the Heart of Boynton District, as defined by the Community Redevelopment Area Plan, will meet ACTIVE USE requirement by using design features - including street-fronng access - to allow residenal use to engage with the street and provide the opportunity for interacon. Such features may be combined with building amenies such as lounges, gyms, common rooms, and recreaon spaces on the ground floor. 2. Minor and Major Variaons to Build-to Line Requirements. Notwithstanding the required build-to line and pedestrian zone requirements of Note #7 above, porons of buildings and structures may be constructed in excess of the distance specified in the above table, but not to exceed fieen (15) feet in order to 1) opmize landscape design; 2) maximize on-site drainage soluons; 3) accommodate architectural features and building enhancements; or 4) to otherwise enhance public spaces such as sidewalks, plazas, fountains, or outdoor seang areas in order to farther the purpose and intent of the Overlay. Major deviaons from the build-to line requirement above (in excess of fieen (15) feet) may be allowed, but only with sufficient jusficaon and conngent upon the approval of a Community Design Appeal applicaon (see Chapter 2, Arcle II, Secon 4.B.). 3. Addional Standards. See Chapter 4, Arcle III, Secon 6.H. for addional standards related to urban design and building locaon for properes located in within the transit core of the Downtown Transit-Oriented District Overlay (the Staon Area). D. Review and Approval Process. 1. All development and redevelopment within the urban mixed use districts shall be governed by a master plan with approval granted by the City Commission in accordance with Chapter 2, Arcle II, Secon 2.D.6. 2. Site plan approval shall be required in accordance with Chapter 2, Arcle II, Secon 2.F. prior to applicaon for building permit. E. Parking. 1. General Requirements. Required off-street parking is regulated in accordance with Chapter 4, Arcle V, Minimum Off-Street Parking Requirements. 2. Reduced Parking Requirements in MU-H District. See reduced parking requirements for specific uses within the MU-H district in accordance with Chapter 4, Arcle V, Secon 2.B. 3. Off-Street Parking Facilies. The mixed use (urban) districts contain addional standards relave to locaon and appearance of off-street parking facilies. Refer to Chapter 4, Arcle III, Secon 6.F. for these addional development standards.293 1367 F. Miscellaneous. 1. Access. See Chapter 4, Arcle VI, Secon 3.C.8. 2. Building Locaon. See Chapter 4, Arcle III, Secon 6. 3. Locaon of Dumpsters and Trash Receptacles. See Chapter 4, Arcle VI, Secon 4.C. 4. Shade and Shelter. See Chapter 4, Arcle III, Secon 6. 5. Sidewalks in MU-H District. See Chapter 4, Arcle III, Secon 6 for community design standards related to sidewalks. 6. Landscape and Streetscape Design. See Chapter 4, Arcle II, Secon 4.B.5. (Ord. 10-025, passed 12-7-10; Am. Ord. 12-016, passed 10-2-12; Am. Ord. 13-013, passed 6-4-13; Am. Ord. 14- 009, passed 7-1-14; Am. Ord. 15-006, passed 3-2-15; Ord. 15-023, passed 10-6-15; Am. Ord. 16-023, passed 1- 3-17; Am. Ord. 17-023, passed 9-19-17; Am. Ord. 19-018, passed 7-2-19; Am. Ord. 19-032, passed 10-1-19, Am. Ord. 22-013, passed 6-6-22, Am. Ord. 22-024, passed 1-3-23) Sec. 8. Overlay Zones. A. Marn Luther King Jr. Boulevard Overlay. 1. Intent. This overlay idenfies a segment of the Marn Luther King Jr. Boulevard as an opportunity for redevelopment and revitalizaon. The ulmate design and site standards of this secon are intended to create a tradional street corridor with pedestrian improvements, storefronts along the sidewalk, and a mixture of uses. The corridor is to contain an ambience supported by pleasant signage and building appearance, poed landscaping, store windows and public open spaces. This overlay is also appropriate for development of small properes to allow for consistency with the vision represented by the respecve mixed use zoning district, and/or as an interim redevelopment mechanism unl greater redevelopment occurs using the respecve mixed use zoning district. All development within the Marn Luther King Jr. Boulevard corridor shall occur according to the provisions of the adopted plan as stated below. 2. Defined. The Marn Luther King Jr. Boulevard Overlay (MLKBO) is hereby established as the area defined by the parcels fronng on that poron of the Boulevard located east of Seacrest Boulevard and west of the railroad right-of-way, along with those parcels adjacent to the north and south of these parcels that front on the Boulevard if assembled and developed as a unified project. Also included in the Overlay are the parcels with commercial underlying zoning located between NE 9th Avenue and NE 11th Avenue. 3. Use(s). Commercial Uses on the ground floor shall be required on the street frontage of MLK Jr. Boulevard. 294 1368 a. Commercial Frontage Requirements. The required commercial spaces fronng the following rights-of-way shall be a minimum of forty (40) feet in depth and a minimum of thirteen (13) feet in ceiling height. Exempons to required frontage include provisions for access, public usable open space, and site visibility triangles. (1) Seventy percent (70%) of the ground floor frontage of structures fronng Marn Luther King Jr. Boulevard must consist of Commercial Uses at the build-to line. The remainder of the ground floor frontage along Marn Luther King Jr. Boulevard not occupied by Commercial Uses must consist of Acve Uses at the build-to- line. b. Uses shall be determined by the underlying zoning district, see “Use Matrix Table 3-28" in Chapter 3, Arcle IV, Secon 3.D., with the except of the following prohibited uses: (1) Dwelling, single-family (detached); (2) Dwelling, two-family (duplex); (3) Automobile rental; (4) Automove, major repair; (5) Automove, minor repair; (6) Auto/car wash, self-serve bay; (7) Auto dealer, new; (8) Auto dealer, used; (9) Auto/car wash (polishing, waxing, detailing); (10) Automove window nng/stereo installaon/alarms; (11) Drive-through facilies; (12) Gasoline staon; (13) Group homes Type I, II, III, and IV; (14) Adult entertainment. c. Any other automobile-oriented uses not listed above are prohibited. (1) An “automobile-oriented use” shall be construed as a business which has a principal purpose of servicing an automobile or consists of a building type or feature which is designed for an automobile, such as drive-through facilies.295 1369 d. Live-work units are permied, but may not front MLK Jr. Boulevard and do not replace the required Commercial Uses on ground floor. e. Addionally, no legally exisng use shall be deemed non-conforming as a result of the MLKBO regulaons. 4. Building and Site Regulaons. Development within this overlay shall be in accordance with building and site regulaons applicable to the underlying zoning district except as follows: a. Parcels that have frontage along Marn Luther King Jr. Boulevard, Seacrest Boulevard, or NE 3rd Street shall provide for the required “Pedestrian Zone” (PZ). The minimum PZ is comprised of three (3) components: 1) a five (5) foot wide street tree area, measured from the back of the curb, or future curb on roads requiring a right-of- way dedicaon, 2) an eight (8) foot wide sidewalk, free from obstrucons, measured from the centerline of street trees, and 3) a five (5) foot wide acve area, measured from the sidewalk. The PZ components may vary in placement order only on sites with conflicng right-of-way regulaons. See Secon 5.C.2. below for addional relief provisions from build-to line requirements. b. Notwithstanding the required build-to line and pedestrian zone requirements, porons of buildings and structures may be constructed in excess of the distance specified above, but not to exceed fieen (15) feet when necessary to 1) opmize landscape design; 2) maximize on-site drainage soluons; 3) accommodate architectural features and building enhancements; and/or 4) to otherwise enhance public spaces such as sidewalks, plazas, fountains, or outdoor seang areas in order to further the purpose and intent of the Overlay. Major deviaons from the build-to line requirement above (in excess of fieen (15) feet) may be allowed, but only with sufficient jusficaon and conngent upon the approval of a Community Design Appeal applicaon (see Chapter 2, Arcle II, Secon 4.B.). c. Minimum interior side, corner side, and rear setbacks shall be in accordance with the Mixed Use 1 zoning district (see Secon 5.C. above). d. Maximum building height shall be in accordance with the Mixed Use 1 zoning district (see Secon 5.C. above). Buildings fronng Marn Luther King Jr. Boulevard shall be a maximum of thirty-five (35) feet consistent for a depth of ten (10) feet. e. Minimum building height shall be thirty (30) feet. 5. Parking. As required by Chapter 4, Arcle V, Secon 3.D. 6. Landscape and Streetscape Design. See Chapter 4, Arcle II, Secon 4.B.5. B. Urban Commercial District Overlay.296 1370 1. Intent. The purpose of this overlay is to encourage the development and redevelopment of commercially- zoned parcels in a manner consistent with the paern of development of parcels with mixed use zoning classificaons. 2. Objecves. The objecves of this overlay are as follows: a. Support and enhance revitalizaon efforts along the city's commercial corridors within the redevelopment areas. b. Improve aesthec and pedestrian streetscape environments by prevenng the placement of off-street parking between the front of the building(s) and the rights-of-way. c. Allow flexibility in architectural design and building bulk; while maximizing compability and harmony with adjoining development within the defined area. 3. Defined. The Urban Commercial District Overlay (UCDO) is established by the following boundaries: a. The boundary is the city limits to the north, the Intracoastal Waterway to the east, the city boundary to the south, and the Florida East Coast Railroad (F.E.C.) and Palm Boulevard (Northeast 4th Street) to the west. 4. Conflict. In the event of any conflict between the provisions of the Urban Commercial District Overlay (UCDO) and any other secons of the Land Development Regulaons, the provisions of this secon shall prevail. These provisions shall not be construed to supersede any federal, state, or county laws; and/or any rezoning of lands to a mixed use zoning district. 5. Use(s). a. Commercial Frontage Requirements. The required commercial spaces fronng the following rights-of-way shall be a minimum of forty (40) feet in depth and a minimum of thirteen (13) feet in ceiling height. Exempons to required frontage include provisions for access, public usable open space, and site visibility triangles. (1) Seventy percent (70%) of the ground floor frontage of structures fronng the poron of Federal Highway between SE 18th Avenue and Marn Luther King Jr. Boulevard, the poron of Ocean Avenue west of SE/NE 6th Street, and/or the poron of Boynton Beach Boulevard west of Federal Highway, must consist of Commercial Uses at the build-to line. The remainder of the ground floor frontage along the poron of Federal Highway between SE 18th Avenue and Marn Luther King Jr. Boulevard, the poron of Ocean Avenue west of SE/NE 6th Street, or the poron of Boynton Beach Boulevard west of Federal Highway not occupied by Commercial Uses must consist of Acve Uses at the build-to-line. 6. Building and Site Regulaons (Table 3-27). Development within this overlay shall be in accordance with building and site regulaons applicable to the underlying zoning district except as follows: BUILDING SITE REGULATIONS 297 1371 Buildings and structures fronng Federal Highway, or other roads described in the CRA Plan, shall be located no father than zero (0) feet from the property line, except in conjuncon with providing required visibility at intersecons; driveways; open spaces and public plazas; or when addional setback is necessary to provide for required “Pedestrian Zone” (PZ). The minimum PZ is comprised of three (3) components: 1) a five (5) foot wide street tree area, measured from the back of the curb, or future curb on roads requiring a right-of-way dedicaon; 2) a ten (10) foot wide sidewalk, free from obstrucons, measured from the centerline of street trees; and 3) an eight (8) foot wide acve area, measured from the sidewalk. The PZ components may vary in placement order only on sites with conflicng right-of-way regulaons. See Secon 5.C.2. below for addional relief provisions from build-to line requirements. Notwithstanding the required build-to line and pedestrian zone requirements, porons of buildings and structures may be constructed in excess of the distance specified above, but not to exceed 15 feet when necessary to 1) opmize landscape design; 2) maximize on-site drainage soluons; 3) accommodate architectural features and building enhancements; and/or 4) to otherwise enhance public spaces such as sidewalks, plazas, fountains, or outdoor seang areas in order to further the purpose and intent of the Overlay. Major deviaons from the build-to line requirement above (in excess of 15 feet) may be allowed, but only with sufficient jusficaon and conngent upon the approval of a Community Design Appeal applicaon (see Chapter 2, Arcle II, Secon 4.B). Shall be defined by the applicable zoning district. 6. Parking. As required by Chapter 4, Arcle V. 7. Miscellaneous. a. Landscape and Streetscape Design. See Chapter 4, Arcle II, Secon 4.B.5. b. Building Locaon. See Chapter 4, Arcle III, Secon 6. Urban Commercial District Overlay Build-to line: Front (abung any public right-of-way):0 . Rear:0 . Interior side:0 . Minimum yard setbacks: Rear (abung residenal district):30 feet Interior side (abung residenal district):15 feet 1, 2 1 2 3 298 1372 c. Shade and Shelter. See Chapter 4, Arcle III, Secon 6. C. Cultural District Overlay. 1. Purpose and Intent. The Cultural District Overlay (CPO) is comprised of mulple properes and a mix of zoning districts that currently accommodates residenal (single-, two- and mul-family), commercial, and instuonal land uses. The CRA Redevelopment Plan recommends the Mixed Use Medium Future Land Use Classificaon for a majority of the District, which allows a maximum density of fiy (50) dwelling units per acre. The remainder of the District is recommended for the Mixed Use High Future Land Use Classificaon find the corresponding maximum density of eighty (80) dwelling units per acre. The purpose and intent of the CPO are as follows: a. Provide for a mix of selected commercial, residenal, office, and entertainment uses and acvies with an emphasis on arts and cultural ventures that will encourage the adapve re-use of exisng buildings, restoraon of historic structures, and maintain and further enhance the pedestrian scale and historic character of the area; b. Encourage the locaon of specialty retail, art related uses and entertainment establishments, along with pedestrian-friendly improvements that would complement and support relaonships between the downtown district and marina/waterfront aracons to the east and the cultural/civic campus to the west; c. Iniate implementaon of various recommendaons contained within the CRA Redevelopment Plan; d. Smulate greater awareness of and pride in the City's architectural, historical, and cultural heritage; e. Ensure that redevelopment within this area, regardless of underlying zoning district, will maintain an appropriate development scale; and f. Improve overall livability of the general area and enhance property values. 2. Defined. The Cultural District Overlay (CPO) shall be bounded on the east by the Florida East Coast Railroad (F.E.C.), on the west by Seacrest Boulevard, on the south by Southeast 2nd Avenue, and on the north by Northeast 1st Avenue. 3. Conflict. Unless deemed otherwise by the Planning and Zoning Administrator, in the event of any conflict between the provisions of the Cultural District Overlay Zone and any other secons of the land development regulaons, the provisions of this secon shall prevail. These provisions shall not be construed to supersede any county, state, or federal laws. 4. Uses. a. Commercial Frontage Requirements. The required commercial spaces fronng the following rights-of-way shall be a minimum of forty (40) feet in depth and a minimum of thirteen (13) feet in ceiling height. Exempons to299 1373 required frontage include provisions for access, public usable open space, and site visibility triangles. (1) Seventy (70%) of the ground floor frontage of structures fronng Ocean Avenue must consist of Commercial Uses at the build-to line. The remainder of the ground floor frontage along Ocean Avenue not occupied by Commercial Uses must consist of Acve Uses at the build-to-line. b. Uses shall be determined by the underlying zoning district, see "Use Matrix Table 3-28" in Chapter 3, Arcle IV, Secon 3.D, with the excepon of the following prohibited uses: (1) Dwelling, Single-family (detached); (2) Dwelling, Two-family (duplex); (3) Auto Broker; (4) Automobile Rental; (5) Automove, Major Repair; (6) Automove, Minor Repair; (7) Auto/Car Wash, Self-serve Bay; (8) Auto Dealer, New; (9) Auto Dealer, Used; (10) Automove Parts Store; (11) Auto/Car Wash (Polishing, Waxing, Detailing); (12) Automove Window Tinng/Stereo Installaon/Alarms; (13) Drive-thru facilies; (14) Day & Trade Labor Pool (Temporary Help); (15) Boat Dealer/Rental; (16) Cleaning Supply Store (Swimming Pool, Janitorial); (17) Convenience Store; (18) Gasoline Staon;300 1374 (19) Showroom warehouse (single-product line); (20) Merchandise, Used (Other); (21) Merchandise, New (Supercenter, Discount, Department, Club); (22) Home Improvement Center; (23) Coin-operated Laundry; (24) Funeral Home; (25) Pet Care (Boarding and Daycare); (26) Cemetery; (27) Church; (28) Civic & Fraternal Club/Organizaon; (29) Group homes Type I, II, III, and IV; (30) College, Seminary, University; (31) School, Primary and Secondary; (32) School, Industrial & Trade; (33) Shoong Range, Indoor; (34) Adult entertainment; (35) Temporary employment agency; (36) Tutoring or Tesng Center; (37) Private Parking Lots; and (38) Social service agency. c. Any other automobile-oriented uses not listed above are prohibited. (1) An "automobile oriented use" shall be construed as a business which has a principal purpose of servicing an automobile or consists of a building type or feature which is designed for an automobile, such as drive-thru facilies.301 1375 d. Live-work units are permied, but may not front East Ocean Avenue or Seacrest Boulevard. e. School, Professional & Technical schools are limited to those that teach the culinary and visual arts. f. Addionally, no legally exisng use shall be deemed non-conforming as a result of the CDO emulaons. 5. Modified Building and Site Regulaons. Development within this Overlay, including proposed expansions and addions to exisng structures shall be in accordance with the building and site regulaons as follows: MODIFIED BUILDING/SITE REGULATIONS Cultural District Overlay Minimum Lot Area:10,000 square feet Minimum Lot Frontage:100 feet Pedestrian Zone: Minimum street tree area 5 feet * Measured from the back of curb Minimum sidewalk width 8 feet clear * Measured from the centerline of street trees Minimum acve area width: (Applicable to Ocean Avenue, Seacrest Boulevard, NE/SE 1st Street, and NE/SE 3rd Street frontages) 8 feet * Measured from edge of the sidewalk Overhead ulies:Must be undergrounded in conjuncon with any new development or major modificaon of exisng developments Build-to-line:Abuts the pedestrian zone Minimum building frontage: (Applicable to Ocean Avenue, Seacrest Boulevard, NE/SE 1st Street, and NE/Se 3rd Street frontages) 75% of the lot frontage must be occupied by structure adjacent to the pedestrian zone Maximum structure height :Per Corresponding Zoning District Ocean Avenue Any properes abung or adjacent to SE 2nd Avenue 35 feet consistent for a depth of a minimum of 30 feet 35 feet Minimum structure height: Ocean Avenue 30 feet On-street parking:Required where possible Minimum yard setbacks: Rear: Interior side: 10 feet 0 feet Minimum Useable Open Space:1% of lot area 1 2: 2 6 5: 4 302 1376 No legally exisng building or structure shall be deemed non-conforming with respect to setbacks, lot coverage, or building height. Sidewalks shall be constructed of Holland-stone pavers, red/charcoal color mix by Paver Systems, Inc., or equal, laid in a 45 herringbone paern. Canopy trees are required 1 per 25 feet of street frontage. Minimum interior side setback standards may require increases when adjacent to registered historic structures. Maximum height standards may require reducons when adjacent to registered historic structures. Permanent structures such as columns and walls are not permied within the required acve area. Self- supporng architectural elements such as awnings and balconies may overhang onto the acve area. Pedestrian Zone Requirements 1 2 3 4 5 6 303 1377 6. Accessory Structures. a. Fences: (1) Fences along street frontages are not permied on East Ocean Avenue or Seacrest Boulevard. (2) Fences along any other street frontage shall not exceed three (3) feet in height. (3) Any fence that is proposed in the remainder of the district shall be decorave in nature. Walls, chain link, board on board, shadowbox, and similar types of fences are expressly prohibited. b. All parking, mechanical equipment, trash containers, and miscellaneous equipment shall be landscaped to be screened from view. 7. Building Design. 304 1378 a. Buildings in the Cultural District Overlay (CDO) shall reflect a Coastal Village style of architecture, consisng primarily of hip and/or gable roof, reclinear forms with stepbacks, porches, and building arculaon. This style derives its character from various elements associated with the Key West Vernacular and Bungalow styles of architecture found throughout South Florida. Overhangs for pedestrian canopies and visual interest should be incorporated whenever possible. Overhead structures gateways, and arches, help define space, provide pedestrian comfort, and reinforce character and identy. New structures shall be constructed with the pedestrian building entries oriented towards the street and shall be sensive to the scale, massing and design envisioned in the CRA Redevelopment Plan. b. Addions and Modificaons to Exisng Buildings. All building addions shall be sensive to the original building design relave to the architectural style, building materials/components and treatments, and proporons. c. Fenestraon Requirements. (1) Any transparent window and door openings occupying a mound-level street-facing building facade shall comply with the following standards: i. The opening shall be filled with glazing that has a minimum visible light transmiance of 75% and a maximum reflectance of 15%; and ii. The opening shall be designed to allow view of an interior space at least five (5) feet deep (e.g., transparent openings may include tradional storefront display windows, but not merely glass display cases). The view into a commercial use shall not be permanently obstructed by screens, shades, shuers, or opaque films applied to the glazing. 8. Parking. Ground-level building facade occupied by transparent window or door openings (minimum area) Street Frontage Commercial Mixed-Use Developments (%)Residenal Development (%) Ocean Avenue 50 30 SE 2nd Avenue 30 Seacrest Boulevard 50 NE/SE 1st Street 50 NE/SE 3rd Street 50 NOTES: These standards also apply to any poron of a ground-level facade facing a courtyard or pao. To count toward this transparency requirement, a window or door opening must have a maximum sill height of 2 feet above grade and a minimum head height of 6 feet, 8 inches above grade. 2 1 2 2 2 1 2 305 1379 a. Minimum Number of Required Spaces. The minimum number of required off-street parking spaces shall be calculated in accordance with Chapter 4, Arcle V, Secon 2; however, the total number of required spaces may be reduced by up to fiy percent (50%) for all new developments, excluding residenal projects. When two (2) or more adjacent property owners combine their off-street parking in accordance with the code and construct a shared parking facility with common access drives, the total number of required off-street parking spaces may be reduced by an addional ten percent (10%). b. Allowable Locaon of Off-Street Parking Spaces. (1) The intent of the CDO is to screen off-street parking areas from abung rights-of-way and locate buildings along front and side corner property lines. Therefore, on-site parking areas shall be located within rear and side interior yards for all new projects and those in which parking areas would be altered to accommodate a proposed building renovaon or expansion. (2) Exisng parking areas for exisng developments may remain if the spaces are unaltered as part of any building renovaon or expansion. In these instances, the exisng off-street parking area shall be substanally screened from off-premises by a hedge, decorave fencing, arcades, or a combinaon thereof, provided that such proposal remains consistent with the intent of the CDO, and to the standards of the urban landscape code to the maximum extent possible. Any deviaon from the above standards would require the approval of a waiver in accordance with Chapter 2, Arcle II, Secon 4.E. (3) If one hundred percent (100%) of the required off-street parking spaces cannot be provided on-site, they may be provided at an off-site locaon provided the following condions are met: 1) the proposed locaon is not farther than five hundred (500) feet from the subject property as measured by a straight line from a point on the boundary of the property to the closest boundary line of the property to be leased (distances for municipal projects may be greater in conjuncon with an overall or downtown parking strategy); and 2) the off-site locaon is owned or leased by the owner or operator of the subject business or property owner. Any lease agreement must be approved by the City Commission. The parent business property shall be posted with signage indicang the locaon of the off-site parking spaces. All spaces provided by the property/business owner on and off-site shall be maintained as unreserved, unrestricted parking available to the public, except designated handicap spaces required by law. c. Excepons to Providing Required Parking. See Chapter 4, Arcle V, Secon 4.A. for addional provisions regarding excepons to providing required off-street parking. 9. Signage and Exterior Lighng Standards. a. Signs allowed within the Cultural District Overlay shall be externally illuminated only, and be limited to wall mounted, and projecng signs. b. The size of wall mounted signs shall be calculated at one-half (0.5) square foot of sign area per one (1) lineal foot of building frontage measured along the main building entrance.306 1380 c. Projecng signs are only permied on the first floor. Projecng signs and mounng brackets shall be decorave in nature, and the sign face shall not exceed five (5) square feet in size. d. Undercanopy signs are permied one (1) per doorway and shall not exceed three (3) square feet each. All undercanopy signs must have a minimum clearance of eight (8) feet. e. A-frame signs are permited only within required acve areas when included and reviewed as a part of an overall sign program. f. Prohibited sign types: Freestanding signs, roof mounted signs, any signs above thirty-five (35) feet (first three (3) stories), animated, or moving signs, and all other signs prohibited by code. g. All mixed-use developments are required to provide a plan for parking signage to maximize awareness of and access to public parking locaons. h. General lighng of the site shall harmonize with and blend into residenal/mixed use environment. Ground lighng and up lighng of the building and landscaping is encouraged. However, when the use of pole lighng is necessary, the fixture height shall not exceed fieen (15) feet, be decorave in nature and compable with the color and architecture of the building. i. These standards exclude municipal signage designed to promote or represent a greater signage plan or branding iniave. D. Boynton Beach Boulevard Overlay (BBBO). 1. Purpose and Intent. The Boynton Beach Boulevard Overlay (BBBO) is comprised of mulple properes and a mix of zoning districts that currently accommodates primarily commercial, residenal, and instuonal land uses. The CRA Redevelopment Plan recommends the Mixed Use Low, Mixed Use Medium, and Mixed Use High Future Land Use Classificaon along Boynton Beach Boulevard, increasing in intensity as the Downtown District is approached. The purpose and intent of the BBBO are as follows: a. Provide for a mix of selected commercial, residenal, and office uses, with an emphasis on employment and entertainment uses that will encourage redevelopment of underulized property and enhance the pedestrian scale and character of the area; b. The western area is to act as a welcoming and aracve entry to the City, while the eastern area is to act as the entry to the City's Downtown District; c. Encourage the locaon of restaurant, retail, office, and entertainment establishments, along with pedestrian-friendly improvements that would complement and support the downtown; d. Connue implementaon of various recommendaons contained within CRA Redevelopment Plan;307 1381 e. Ensure that redevelopment within this area, regardless of underlying zoning district, will maintain a consistent character; and f. Improve overall livability of the general area and enhance property values. 2. Defined. The Boynton Beach Boulevard Overlay (BBBO) shall be bounded on the east by the Florida East Coast Railroad (F.E.C.), on the west by NW 5th Street, further by Interstate 95, on the south by NE and NW 1st Avenue, and on the north by NE 3rd Avenue and NW 3rd Court. 3. Conflict. Unless deemed otherwise by the Planning and Zoning Director, in the event of any conflict between the provisions of the Boynton Beach Boulevard Overlay and any other secons of the Land Development Regulaons, the provisions of this secon shall prevail. These provisions shall not be construed to supersede any federal, state, or county laws. 4. Uses. a. Commercial Frontage Requirements. The required commercial spaces fronng the following rights-of-way shall be a minimum of forty (40) feet in depth and a minimum of thirteen (13) feet in ceiling height. Exempons to required frontage include provisions for access, public usable open space, and site visibility triangles. (1) Seventy (70%) of the ground floor frontage of structures fronng Boynton Beach Boulevard and/or Seacrest Boulevard must consist of Commercial Uses at the build-to-line. The remainder of the ground floor frontage along Boynton Beach Boulevard and/or Seacrest Boulevard not occupied by Commercial Uses must consist of Acve Uses at the build-to-line. b. Uses shall be determined by the underlying zoning district, see "Use Matrix Table 3-28" in Chapter 3, Arcle IV, Secon 3.D., with the excepon of the following prohibited uses: (1) Accessory Dwelling Unit; (2) Dwelling, Single-family (detached); (3) Dwelling, Two-family (duplex); (4) Auto Broker; (5) Automobile Rental; (6) Automove, Major Repair; (7) Automove, Minor Repair; (8) Auto Dealer, New;308 1382 (9) Auto Dealer, Used; (10) Automove Parts Store; (11) Auto/Car Wash, Self-serve Bay; (12) Auto/Car Wash (Polishing, Waxing, Detailing); (13) Automove Window Tinng/Stereo Installaon/Alarms; (14) Drive-thru facilies; (15) Day and Trade Labor Pool (Temporary Help); (16) Boat Dealer/Rental; (17) Cleaning Supply Store (Swimming Pool, Janitorial); (18) Convenience Store; (19) Gasoline Staon; (20) Furniture and Home furnishing, unless integrated into a mixed use development; (21) Showroom warehouse (single-product line); (22) Merchandise, Used (Other); (23) Merchandise, New (Supercenter, Discount, Department, Club); (24) Home Improvement Center; (25) Coin-operated Laundry; (26) Funeral Home; (27) Pet Care (Boarding and Daycare); (28) Cemetery; (29) Church; (30) Civic and Fraternal Club/Organizaon; (31) Group homes Type I, II, III, and IV;309 1383 (32) College, Seminary, University; (33) School, Primary and Secondary; (34) School, Industrial and Trade; (35) Shoong Range, Indoor; (36) Adult entertainment; (37) Temporary employment agency; (38) Social service agency; and (39) All industrial uses. c. Any other automobile-oriented use not listed above is prohibited. (1) An "automobile oriented use" shall be construed as a business which has a principal purpose of servicing an automobile or consists of a building type or feature which is designed for an automobile. d. Live-work units are permied, but may not front Boynton Beach Boulevard or Seacrest Boulevard. e. Addionally, no legally exisng use shall be deemed non-conforming as a result of the BBBO regulaons. 5. Modified Building and Site Regulaons. MODIFIED BUILDING/SITE REGULATIONS Boynton Beach Boulevard Overlay Zone Minimum Lot Area:0.75 acre Minimum Lot Frontage: Boynton Beach Boulevard 100 feet 150 feet Pedestrian zone: Minimum street tree area :5 feet * Measured from the back of the curb Minimum sidewalk width :8 feet clear * Measured from the centerline of street trees Minimum acve area width: (Applicable to Boynton Beach Boulevard and Seacrest Boulevard street frontages) 8 feet * Measured from edge of the sidewalk Overhead ulies:Must be undergrounded in conjuncon with any new development or major 1 3 2 4 310 1384 No legally exisng building or structure shall be deemed non-conforming with respect to setbacks, lot coverage, or building height. Sidewalks shall be constructed of Holland-stone pavers, red/charcoal color mix by Paver Systems, Inc., or equal, laid in a 45 herringbone paern. Canopy trees are required 1 per 25 feet of street frontage. Permanent structures such as columns and walls are not permied within the required acve area. Self- supporng architectural elements such as awnings and balconies may overhang onto the acve area. Pedestrian Zone Requirements MODIFIED BUILDING/SITE REGULATIONS Boynton Beach Boulevard Overlay Zone modificaon of exisng developments Build-to line:Abuts the pedestrian zone Minimum building frontage: (Applicable to Boynton Beach Boulevard, Seacrest Boulevard) 75% of the lot frontage must be occupied by structure adjacent to the pedestrian zone Maximum structure height:Per Corresponding Zoning District Boynton Beach Boulevard 45 feet Any addional height permied by the zoning districts must be stepped back proporonately to the overall height, a minimum of ten (10) feet and for every fiy (50) feet above forty-five (45) feet in height an addional ten (10) feet stepback is required Minimum structure height:30 feet On-street parking:Required where possible Minimum yard setbacks: Rear:10 feet Abung NW 1st Avenue, NE 3rd Avenue, NW 3rd Avenue: 20 feet The rear property line shall contain a connuous vegetave buffer Interior side:0 feet Minimum Usable Open Space:1% of lot area 1 6 1 2 3 4 311 1385 6. Accessory Structures. a. Fences: (1) Fences along street frontages are not permied on Boynton Beach Boulevard or Seacrest Boulevard. (2) Fences along any other street frontages shall not exceed three (3) feet in height. (3) Any fence that is proposed in the reminder of the district shall be decorave in nature. Walls, chain link, board on board, shadowbox, and similar types of fences are prohibited. b. All parking, mechanical equipment, trash containers, and miscellaneous equipment shall be landscaped to be screened from view. 7. Building Design. a. Building orientaon. Lots with frontage on Boynton Beach Boulevard must orient structures to Boynton Beach Boulevard. The main pedestrian entry, or front door, must be fronng Boynton Beach Boulevard. b. Boynton Beach Boulevard and Seacrest Boulevard shall have maximized glazing on first floors. Fenestraon Requirements Ground-level building facade occupied by transparent window or door openings (minimum area) Commercial Mixed-Use Developments (%) Residenal Development (%)312 1386 Notes: These standards also apply to any poron of a ground-level facade facing a courtyard or pao. To count toward this transparency requirement, a window or door opening must have a maximum sill height of two (2) feet above grade and a minimum head height of six (6) feet, eight (8) inches above grade. c. Any transparent window and door openings occupying a ground-level street-facing building facade shall comply with the following standards: (1) The opening shall be filled with glazing that has a minimum visible light transmiance of seventy-five percent (75%) and a maximum reflectance of fieen percent (15%). (2) The opening shall be designed to allow view of an interior space at least five (5) feet deep (e.g., transparent openings may include tradional storefront display windows, but not merely glass-display cases). The view into a commercial use shall not be permanently obstructed by screens, shades, shuers, or opaque films applied to the glazing. d. Building Wall Arculaon. (1) Vercal arculaon. Walls shall be offset by a minimum depth of two (2) feet once every fiy (50) linear feet. (2) Horizontal Arculaon. Buildings shall step-back a minimum of ten (10) feet once the structure reaches forty-five (45) feet in height. Buildings must step back an addional ten (10) feet for every addional fiy (50) feet in height; the addional required step-backs may be dispersed in varying offsets. Boynton Beach Boulevard 50 30 Seacrest Boulevard 50 2 1 2 1 2 313 1387 UNDESIRABLE VERTICAL HORIZONTAL ARCHITECTURAL ARTICULATION ARTICULATION TREATMENT ADDED ADDED (Figure D.7.b.) 8. Parking. a. Minimum Number of Required Spaces. The minimum number of required off-street parking spaces shall be calculated in accordance with Chapter 4, Arcle V, Secon 2. b. Allowable Locaon of Off-Street Parking Spaces. (1) The intent of the BBBO is to screen off-street parking areas from abung rights-of-way and locate buildings along front and side corner property lines. Therefore, on- site parking shall be located within rear and side interior yards for all new projects and those in which parking areas would be altered to accommodate a proposed building renovaon or expansion.314 1388 (2) Exisng parking areas for exisng developments may remain if the spaces are unaltered as part of any building renovaon or expansion. In these instances, the exisng off-street parking area shall be substanally screened from off-premises by a hedge, decorave fencing, arcades, or a combinaon thereof, provided that such proposal remain consistent with the intent of the BBBO, and to the standards of the urban landscape code to the maximum extent possible. Any deviaon from the above standards would require the approval of a waiver in accordance with Chapter 2, Arcle II, Secon 4.E. c. Excepons to Providing Required Parking. See Chapter 4, Arcle V, Secon 3 and 4 for addional provisions regarding excepons to providing required off-street parking. 9. Signage and Exterior Lighng Standards. a. Signs permied within the Boynton Beach Boulevard Overlay shall be externally illuminated only and consist of wall mounted, and/or a projecng sign. b. The size of wall mounted signs shall be calculated at one (1) square foot of sign area per one (1) lineal foot of building frontage measured along the main building entrance. c. Projecng signs are only permied on the first floor. Projecng signs and mounng brackets shall be decorave in nature, and the sign face shall not exceed nine (9) square feet in size. d. Undercanopy signs are permied one (1) per doorway and shall not exceed three (3) square feet each. All undercanopy signs must have a minimum clearance of eight (8) feet. e. Properes with over two hundred and fiy (250) feet of linear street frontage on Boynton Beach Boulevard are permied one (1) monument sign with a maximum height of five (5) feet, a maximum depth of eighteen (18) inches and a maximum area of forty (40) square feet. Monuments signs shall be oriented perpendicular to the street. f. Prohibited sign types: Freestanding signs, roof mounted signs, any signs above forty (40) feet (first four (4) stories), animated, or moving signs, and all other signs prohibited by code. g. All mixed-use developments are required to provide a plan for parking signage to maximize awareness of and access to public parking locaons. h. General lighng of the site shall harmonize with and blend into residenal, mixed use environment. Ground lighng and up lighng of the building and landscaping is encouraged. However, when the use of pole lighng is necessary, the fixture height shall not exceed fieen (15) feet, be decorave in nature and compable with the color and architecture of the building. E. Downtown Transit-Oriented Development District (DTODD) Overlay.315 1389 1. Intent. This overlay implements Policy No. 1.18.1 of the Comprehensive Plan's future land use element which establishes the DTODD to improve land development paerns around the future staon of the planned commuter service. The overlay's features further enhance the vision embodied by mixed-use zoning districts with increased density and intensity as well as strong emphasis on interconnecvity throughout the area. 2. Defined. The DTODD Overlay coincides with the Staon Area of a one-half (½) mile radius around the intersecon of Ocean Avenue and the Florida East Coast rail corridor, which is the ancipated locaon of the Downtown Boynton Beach Staon for the planned commuter Tri-Rail Coastal Link service on the FEC Corridor. 3. General. See addional standards and requirements for mixed-use (urban) districts based on the proximity to the planned train staon in Chapter 3, Arcle III, Secon 5.A. 4. Uses. a. Commercial Frontage Requirements. The required commercial spaces fronng the following rights-of-way shall be a minimum of forty (40) feet in depth and a minimum of thirteen (13) feet in ceiling height. Exempons to required frontage include provisions for access, public usable open space, and site visibility triangles. (1) Seventy (70%) of the ground floor frontage of structures fronng Federal Highway, the poron of Ocean Avenue between SE/NE 6th Street and Seacrest Boulevard, and/or the poron of Boynton Beach Boulevard west of Federal Highway, must consist of Commercial Uses at the build-to line. The remainder of the ground floor frontage along Federal Highway, the poron of Ocean Avenue between SE/NE 6th Street and/or Seacrest Boulevard, and the poron of Boynton Beach Boulevard west of Federal Highway not occupied by Commercial Uses must consist of Acve Uses at the build-to-line. (2) Fiy percent (50%) of the ground floor frontage of structures fronng SE 4th Street must consist of Commercial Uses at the build-to line. b. For the DTODD, allowed uses are based on the underlying zoning district. See “Use Matrix,” Table 3-28 in Chapter 3, Arcle IV, Secon 3.D. 5. Building and Site Regulaons. See Chapter 3, Arcle III, Secon 5.C. 6. Density Within the MU-2, MU-3, MU-4, and MU-C Zoning Districts. Efficiency and one-bedroom units which are 750 square feet or less may count as one-half (1/2) a unit. When using this provision, the density shall not exceed: a. The maximum density of the underlying zoning district when counng units using 1/2 density units, and; b. The maximum density of the underlying future land use classificaon in the TOD, when counng each individual unit as a whole unit. 316 1390 7. Addional Standards. See Chapter 4, Arcle III, Secon 6.H. for addional standards related to urban design and building locaon for properes located within the transit core of the Staon Area. (Ord. 10-025, passed 12-7-10; Am. Ord. 11-002, passed 3-1-11; Am. Ord. 12-016, passed 10-2-12; Am. Ord. 15- 006, passed 3-2-15; Am. Ord. 17-023, passed 9-19-17; Am. Ord. 19-018, passed 7-2-19; Am. Ord. 19-032, passed 10-1-19; Am. Ord. 20-037, passed 11-4-20; Am. Ord. 22-018, passed 11-14-22) 317 1391 City View Tab 9 Evidence of Financial Capacity NOTE TO READER: OWNERSHIP & DEVELOPER FINANCIALS ARE AVAILABLE UPON REQUEST AND WILL BE PROVIDED UNDER SEPARATE COVER. Debt & Equity Letters located in this section: ▪ Scenario 1 – 4% Housing Credits ▪ Scenario 2 – 9% Housing Credits 318 1392 City View Tab 9 Evidence of Financial Capacity ▪ Scenario 1 – 4% Housing Credits: o Tax Credit Equity ($19,472,053) – ▪ Raymond James Affordable Housing Investments, Inc. letter dated April 16, 2025 o Construction Loan ($25,000,000) – ▪ TD Bank, N.A., letter dated April 17, 2025 o Permanent Loan ($12,000,000) – ▪ Citibank, N.A. letter dated April 18, 2025 319 1393 3201394 3211395 3221396 3231397 3241398 3251399 3261400 3271401 3281402 329 1403 330 1404 331 1405 332 1406 333 1407 334 1408 335 1409 City View Tab 9 Evidence of Financial Capacity ▪ Scenario 2 – 9% Housing Credits: o Tax Credit Equity ($26,387,361) – ▪ Raymond James Affordable Housing Investments, Inc. letter dated April 11, 2025 o Construction Loan ($23,000,000) – ▪ TD Bank, N.A., letter dated April 17, 2025 o Permanent Loan ($13,585,000) – ▪ Citibank, N.A. letter dated April 18, 2025 336 1410 3371411 3381412 3391413 3401414 3411415 3421416 3431417 3441418 3451419 346 1420 347 1421 348 1422 349 1423 350 1424 351 1425 352 1426 # DESCRIPTION DATE 1 Submittal of PBC – Housing Bond Loan Program RFP 7/2025 2 PBC BCC Prelim. Approval Housing Bond Loan Program RFP 10/2025 3 Submittal of Site Plan to City of Boynton Beach 1/2026 4 PBC BCC Final Approval of General Obligation Bond Funding 3/2026 5 Submittal of Civil Plans to Various Regulating Agencies 3/2026 6 Commence Building Plans 3/2026 7 Staff Final Site Plan Review and Issuance of Recommendation to City Commission 8/2026 8 Site Plan Approval by Boynton Beach City Commission 9/2026 9 Submittal of Building Plans to the Boynton Beach Building Department 10/2026 10 Obtain all Civil Permits 1/2027 11 Issuance of City of Boynton Beach Permit Ready Letter 2/2027 12 Financial Closing (All Project Funding Sources) 3/2027 13 Commence Construction Activities 4/2027 14 Commence Pre-Leasing Activities 10/2028 15 Construction Completion & Issuance of Certificate of Occupancy 3/2029 16 First Move-Ins 4/2029 17 Achieve Initial 100% Occupancy 12/2029 18 Permanent Loan Closing 4/2030 *Preliminary, subject to change. City View Tab 10 Estimated Development Timeline* 353 1427 Proposed Housing for Seniors City View SW Corner of the Intersection of S Federal Hwy & SE 5 th Ave. 1428 1429 SE 5th Ave. City Hall S. Federal HwyE. Ocean Ave Proposed City View Apts. N City View Proposed Elderly Multifamily Rental Development Boynton Beach Senior Center Pence Park 1430 FR -Landmark has successfully financed and developed over 4,800 multi-family units with costs in excess of $845 million. -Landmark and the West Palm Beach Housing Authority (WPBHA) have jointly developed 450 units in Palm Beach County, including the 344-unit redevelopment of Paul Laurence Dunbar public housing, and the 106-unit Autumn Ridge Apartments serving seniors, located at 1580 N Congress Ave., approx. ½ mile south of Okeechobee Blvd. Experienced Development Team 1431 Royal Palm Place is a 125-unit mid-rise affordable housing development with one- and two-bedroom units, serving elderly households at 33% and 60% of AMI. Royal Palm Place Completed in 2019 808 17th Street, West Palm Beach, Florida 33407 1432 Silver Palm Place Completed in 2018 838 Adams Street, West Palm Beach, Florida 33407 Silver Palm Place is a 120-unit mid-rise affordable housing development with one-, two- and three-bedroom units, serving households at 30% and 60% of AMI. 1433 Autumn Ridge is a 106-unit mid-rise affordable housing development with one- and two-bedroom units, serving elderly households earning between 30% and 140% of AMI. Autumn Ridge Completed in December-2024 1580 N. Congress Ave., West Palm Beach, Florida 33409 1434 City Place is a 99-unit high-rise affordable housing development with one- and two- bedroom units, serving households at 28% and 60% of AMI. City Place Completed in January-2025 75 Park Avenue West Dania Beach, Florida 33004 1435 City Heights is a 98-unit high-rise affordable housing development with one-, two- and three-bedroom units, serving elderly households at 28% and 60% of AMI. City Heights Completed in 2014 145 SW 8th Street, Miami, Florida 33130 1436 Financing Experience with Private Institutions -Landmark has long-standing relationships with JPMorgan Chase, Raymond James, Wells Fargo, SunTrust Bank (now Truist), Citibank, and many other financing sources. Lender Loans Equity JPMorgan Chase $22 MM Not Applicable Raymond James Not Applicable $27 MM Wells Fargo $62 MM $205 MM SunTrust (Now Truist)$59.5 MM $72.6 MM Citibank $189 MM Not Applicable 1437 FR ▪Architect: Burgos Lanza & Associates ▪Civil Engineers (we anticipate contracting w/ one of the following): ▪Kimley-Horn ▪Thomas Engineering Group ▪General Contractor: Landmark Construction Service, LLC ▪Attorneys: ▪Brian McDonough, Esq., Stearns Weaver Miller (financing, etc.) ▪Bonnie Miskel, Esq., Miskel Backman, LLP (development approvals) ▪Accountant: CohnReznick City View Team of Consultants & Professionals 1438 FRBenefits of City View to City of Boynton Beach •City View will address housing affordability facing Elderly households. Subject to obtaining rental assistance, rents for residents at City View will be limited to 30% of the income of each household. •Generate over $362k in City impact and utility connection fees.1 •Enhance affordable housing choices. ▪AMI of Boynton Beach is $67,247 (2023)2; ▪64% of Boynton Beach renters are cost-burdened (pay 30% or more of household income on housing costs)3; ▪29.8% of Palm Beach County renters are severely cost-burdened (pay 50% or more of household income on housing costs)3; ▪Cost-burden & Severely Cost-burden renter households increased 13.64% & 5.22% between 2014 - 2018 3; Notes: 1.Assumes a total of 90 units. Number of units & unit mix are subject to change. 2.Based on information from U.S. Census Bureau. AMI = Area Median Income. 3.Per February-2021 Palm Beach County Affordable Housing Needs Assessment, prepared by the Jorge M. Perez Metropolitan Center at FIU & the Housing Leadership Council of Palm Beach County. 4.Per Rent.com for Boynton Beach, FL (2024). 5.Calculated by subtracting the utility allowance from the monthly rent for 1- BR/2-BR unit at 60% of AMI (based on 2025 Income & Rent Limits for Palm Beach County, as adjusted for family size, released by HUD 4/1/25). 6.Elderly household rents will not exceed 30% of the annual income of each household, as applicable. Remaining rent to be paid by rental assistance payments. 1,126 1,355 2,095 2,537 969 1,182 0 1,000 2,000 3,000 1 Bedroom 2 Bedroom Market Rents4 vs. Residents Portion of Rent at City View5,6 City View Market Differential 1439 FR City View – Site Plan 1440 FR City View – Ground Floor 1441 FR City View – 2nd Floor 1442 FR City View – 3rd Floor 1443 Estimated Initial Rent & Income Limits (SCENARIO 1 – 4% HC) Unit Type1 Set-Aside (% of AMI)2 Resident Portion of Rent (Max)2,3,5 Income Limit at Move-in2,4 1/1 60% $1,126 $56,160 2/2 $1,355 $63,120 1/1 50% $906 $46,800 2/2 $1,092 $52,600 City View Estimated Rents & Income Limits The proposed development would consist of 90 units; mid-rise (6 stories) design.1 Notes: 1.Building height, number of units & unit mix/type to be determined through site plan submittal/review process. 2.Elderly household rents will not exceed 30% of the annual income of each household, as applicable. Remaining rent to be paid by rental assistance payments. The above rent & income limits were issued by FHFC for Palm Beach County, as adjusted for family size, released by HUD on 4/1/25 (subject to annual adjustments) & represent maximum amounts. Final limits may vary & will be determined by funding sources. 3.Utility allowances have been deducted from the rents. 4.Assumption: 1 bedroom – 2 person occupancy; 2 bedroom – 3 person occupancy. 5.Total estimated rents, including Rental Assistance, are as follows: (1) 1/1 - $1,881/mo; (2) 2/2 - $2,195/mo. Rental Assistance is subject to procurement, HUD Approval & Subsidy Layering Review (as applicable). Estimated Initial Rent & Income Limits (SCENARIO 2 – 9% HC) Unit Type1 Set-Aside (% of AMI)2 Resident Portion of Rent (Max)2,3,5 Income Limit at Move-in2,4 1/1 60% $1,126 $56,160 2/2 $1,355 $63,120 1/1 33% $533 $30,888 2/2 $644 $34,716 1444 City View Potential Funding Scenarios (and Corresponding Local Gov’t. Assistance) Note: 1.4% Housing Credits are available on a non-competitive basis. Tax-Exempt bonds & 4% Housing Credits will be combined with Palm Beach County and/or FHFC SAIL funding. The award of Palm Beach County and/or FHFC SAIL funding is subject to a competitive process. 2.Above information is preliminary & subject to change. •Request – City of Boynton Beach and/or CRA: $4.35MM ($48,333/Unit) •Palm Beach County Loan and/or FHFC SAIL: $12.140MM •Non-Competitive Florida Housing Finance Corporation (FHFC) 4% Housing Credits (HC) & Tax-Exempt Bonds •Request – City of Boynton Beach and/or CRA: $2.4MM ($26,667/Unit) •Palm Beach County Loan: $4.7MM •Competitive Florida Housing Finance Corporation (FHFC) 9% Housing Credits (HC) •Conventional Debt SCENARIO 11 4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt SCENARIO 2 9% Housing Credits, Conventional & Subordinate Debt 1445 Development Name Development Address Total Units FHFC Funding Funding From Boynton Beach (per/Unit) Amount of Committed Local Gov’t. Assistance Wells Landing On the N and S Side of E Martin Luther King Jr Blvd., E of Intersection of N Seacrest Blvd. Also on NE 11 Ave at SW Corner of NE 1 St, Boynton Beach 124 9% Housing Credits $28,908/Unit (City of Boynton Beach & Boynton Beach CRA) Boynton Beach 1. $625,750 (Grant) 2. $500,000 (Grant) Boynton Beach CRA 1. $2,025,815 (Grant) 2. $433,008 (Grant) Palm Beach County $1,499,500 (Loan) The Pierce*115 N. Federal Highway, Boynton Beach 300 Not Applicable $48,683/Unit Boynton Beach CRA $7,605,000 (Acquisition) $7,000,000 (TIRFA) Housing Initiatives w/ Assistance from Boynton Beach CRA and/or City of Boynton Beach *Development is providing 150 workforce housing units and will lease 150 parking spaces to the Boynton Beach CRA to be used for the general public, subject to payment by the CRA of certain agreed upon operating expenses. The CRA may charge the public for the usage of said parking. 1446 FR ▪Borrower: City View Associates, Ltd. ▪General Partner: Pine Ridge Holistic Living Center, Inc., a not-for-profit corporation affiliated with the West Palm Beach Housing Authority ▪Limited Partners: ▪Landmark City View, LLC, affiliated with Landmark Developers, Inc. ▪WPBHA City View, LLC, affiliated with the West Palm Beach Housing Authority ▪Loan to be funded during construction. ▪Collateral: Subordinate to (1) first mortgage and (2) FHFC SAIL and/or Palm Beach County. ▪Interest Rate: 0.00% ▪Forgivable after 30 years from execution of the note. Loan in the amount of i ) $4,350,000 (Scenario 1) or ii) $2,400,000 (Scenario 2) Our Request Proposed Loan Terms 1447 Submit Funding Application to Palm Beach County* Secure Building Permits, Close on Financing & Commence Construction Construction Completion City View Financing & Development Timeline (subject to change) Submit SAIL &/or Housing Credit Applications to FHFC Receive Financing Awards Spring 2029Spring 2027Spring 2026Fall 2025July 2025 Autumn Ridge Apartments West Palm Beach, FL 106-Units Completion December-2024 *It is anticipated that City View will be financed with funding from Palm Beach County. 1448 FR 3050 Biscayne Boulevard, Suite 300 Miami, Florida 33137 T: (305) 538-9552 F: (305) 538-9553 www.landmarkco.net •Francisco Rojo, President – Extension 103 francisco@landmarkco.net •Justin Gilbert, Project Manager – Extension 111 justin@landmarkco.net Landmark Developers, Inc. West Palm Beach Housing Authority 3700 Georgia Avenue West Palm Beach, Florida 33405 T: (561) 655-8530 F: (561) 832-8962 www.wpbha.org •Linda Odum, Executive Director •Charlotte Burnett, General Counsel – Extension 1105 cburnett@wpbha.org 1449 1450 1451 Exhibit A City View Sources & Uses Permanent Sources: 1st Mortgage (See Note 1) $12,000,000 Palm Beach Co and/or FHFC SAIL $12,140,000 Boynton Beach CRA (See Note 3) $ 3,750,000 Deferred Developer Fee $ 1,672,947 Tax Credit Equity (4% HC) $19,472,053 TOTAL PERMANENT SOURCES $49,035,000 Total Uses: $49,035,000 Note 1: Anticipated Construction Loan: $25,000,000 SCENARIO 1 4% Housing Credits (HC), Tax-Exempt Bonds & Subordinate Debt Permanent Sources: 1st Mortgage (See Note 1) $13,585,000 Boynton Beach CRA $ 2,400,000 Palm Beach County $ 4,700,000 Deferred Developer Fee $ 427,639 Tax Credit Equity (9% HC) $26,387,361 TOTAL PERMANENT SOURCES $47,500,000 Total Uses: $47,500,000 Note 1: Anticipated Construction Loan: $23,000,000 SCENARIO 2 9% Housing Credits (HC), Conventional & Subordinate Debt Notes: 1. Above figures are preliminary & subject to change. 2. Scenario 1 costs are higher than Scenario 2 costs due to additional financing & legal expenses. 3. This amount has been reduced from $4,350,000 reflected in a previously provided Sources & Uses. 5/23/25 1452 5/23/2025 CITY VIEW SCENARIO 1 (4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt) PROJECTED FUNDING FROM BOYNTON BEACH CRA:$3,750,000 INCOME LIMITS ------------------------------ ------------------------- ------------------- ------------------ ----------------- -------------------------- ----------------- 2025 $111,800 (FHFC Effective Date: 4/01/25) ------------------------------ ------------------------- ------------------- ------------------ ----------------- -------------------------- ----------------- Number Percentage Income Percentage Income Percentage Income of Persons of Median Limits of Median Limits of Median Limits ------------------------------ ------------------------- ------------------- ------------------ ----------------- -------------------------- ----------------- 1 60% $49,140 50% $40,950 30% $24,570 2 60% $56,160 50% $46,800 30% $28,080 3 60% $63,120 50% $52,600 30% $31,560 4 60% $70,140 50% $58,450 30% $35,070 5 60% $75,780 50% $63,150 30% $37,890 6 60% $81,420 50% $67,850 30% $40,710 RESIDENTIAL RENTAL INCOME (FHFC Effective Date: 4/01/25) ------------------------------ ------------------------- ------------------- ------------------ -------------------------------------------- ----------------- ------------------ Number Gross Utility Max Tax Estimated Total Annual of Units1 Rent Allowance2 Cdt Rent Rent3 Rent Rent ------------------------- ------------------- ------------------ -------------------------------------------- ----------------- ------------------ 1 Bdr @ 60% of AMI 40 1,316$ 190$ 1,126$ 1,881$ 75,240$ 902,880$ 2 Bdr @ 60% of AMI 27 1,578$ 223$ 1,355$ 2,195$ 59,265$ 711,180$ 1 Bdr @ 50% of AMI 14 1,096$ 190$ 906$ 1,881$ 26,334$ 316,008$ 2 Bdr @ 50% of AMI 9 1,315$ 223$ 1,092$ 2,195$ 19,755$ 237,060$ ------------------------- ------------------- ------------------ -------------------------------------------- ----------------- ------------------ TOTAL 90 180,594$ 2,167,128$ 1- Unit Mix & Income Set-Asides subject to change, provided that all units will be at 60% of AMI or lower. OTHER INCOME ------------------------------ ------------------------- ------------------- ------------------ ----------------- -------------------------- ----------------- Non Residential Income Item SF $/SF Income ------------------------------ ------------------------- ------------------- ------------------ ----------------- -------------------------- ----------------- Cable TV, Misc. Income, etc. 0 0 0 11,880$ ------------------------------ ------------------------- ------------------------------------- ----------------- -------------------------- ----------------- Total 11,880$ $12,000,000 7.880% 7.253% $945,619 35 24.47% Yes $133,333 $12,140,000 1.00% 1.00% $121,400 40 24.76% See Note 1 $134,889 2- PBC Section 8 schedule effective 1/1/2025, electric only. Water & sewer paid by Owner. 3- Household rents will not exceed 30% of the annual income of each household, as applicable. Remaining rent to be paid by rental assistance payments (subject to procurement). PERM DEBT STRUCTURE 1st MORTGAGE Notes: Amount Constant Rate Debt Service Term/Amortization Period % of Project Costs Amortization (Yes/No) Per Unit PALM BEACH COUNTY LOAN1 Amortization (Yes/No) Per Unit 1 - Palm Beach County loan is anticipated to have a rate of 1% interest/annum, with interest-only payments for 10 years (3 yr - Construction /Lease-Up period & 7 yr Operational Period). Amortization (based on a 40 yr term) to commence in year 11. Amount Constant Rate Debt Service Term/Amortization Period % of Project Costs Page 1 of 5 1453 CITY VIEW SCENARIO 1 (4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt) --------------------- ------------------------- ----------------------- ------------------- -------------------------- SOURCES PERMANENT CONSTRUCTION --------------------- ------------------------- ----------------------- ------------------- -------------------------- FINANCING 1st Mortgage $12,000,000 $25,000,000 Palm Beach County Loan $12,140,000 $6,000,000 Boynton Beach CRA $3,750,000 $3,750,000 Deferred Developer Fee $1,672,947 $3,575,371 ------------------- -------------------------- $29,562,947 $38,325,371 CAPITAL CONTRIBUTION Limited Partners $19,472,053 $10,709,629 ------------------- -------------------------- $19,472,053 $10,709,629 TOTAL SOURCES $49,035,000 $49,035,000 --------------------- ------------------------------------------------- ------------------- -------------------------- USES PERMANENT CONSTRUCTION --------------------- ------------------------------------------------- ------------------- -------------------------- Land $4,425,000 $4,425,000 Construction Cost $27,750,000 $27,750,000 Construction Contingency $1,387,500 $1,387,500 Lender's Inspector $75,000 $75,000 Architect/Engineering/Env. $900,000 $900,000 Building Permits $453,000 $453,000 Personal Property $150,000 $150,000 Real Estate Taxes $295,000 $295,000 Insurance $315,000 $315,000 Legal & Consulting Fees $470,000 $470,000 Title & Closing $200,000 $200,000 Accounting Fees $50,000 $50,000 Appraisal / Market Study $20,000 $20,000 Marketing $100,000 $100,000 Impact / Water & Sewer Fees $787,221 $787,221 LIHTC Underwriting, App. Fees $20,067 $20,067 LIHTC Admin. Fee $192,600 $192,600 LIHTC Compliance Fee $225,000 $225,000 Soft Cost Contingency $180,000 $180,000 Operating Reserve $430,000 $430,000 Constr. / Perm Loan Fees $587,500 $587,500 Construction Interest $2,889,000 $2,889,000 Other FHFC Fees $25,000 $25,000 Interest on Land Acquisition $368,750 $368,750 ------------------- -------------------------- $42,295,638 $42,295,638 Developer Overhead & Fee $6,739,362 $6,739,362 TOTAL USES $49,035,000 $49,035,000 Page 2 of 5 1454 CITY VIEWSCENARIO 1 (4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt)1 2 3 4 5 6 7 8 9 101112131415RENTAL & OTHER INCOMETotal Residential Rent$2,167,128$2,210,471$2,254,680$2,299,774$2,345,769$2,392,684$2,440,538$2,489,349$2,539,136$2,589,919$2,641,717$2,694,551$2,748,442$2,803,411$2,859,479Cable TV, Misc. Income, Etc. $11,880$12,118$12,360$12,607$12,859 $13,116$13,379 $13,646$13,919 $14,198$14,482 $14,771 $15,067$15,368$15,675TOTAL GROSS INCOME $2,179,008 $2,222,588 $2,267,040 $2,312,381 $2,358,628 $2,405,801 $2,453,917 $2,502,995 $2,553,055 $2,604,116 $2,656,199 $2,709,323 $2,763,509 $2,818,779 $2,875,155Less Vacancy $108,950$111,129$113,352$115,619$117,931$120,290$122,696$125,150$127,653 $130,206$132,810$135,466$138,175 $140,939$143,758EFFECTIVE GROSS INCOME $2,070,058 $2,111,459 $2,153,688 $2,196,762 $2,240,697 $2,285,511 $2,331,221 $2,377,845 $2,425,402 $2,473,910 $2,523,389 $2,573,856 $2,625,334 $2,677,840 $2,731,397LESS OPERATING EXPENSESManagement Fee $103,500 $106,605 $109,803 $113,097 $116,490 $119,985 $123,584 $127,292 $131,111 $135,044 $139,095 $143,268 $147,566 $151,993 $156,553Admin (Incl. Payroll) $187,500 $193,125 $198,919 $204,886 $211,033 $217,364 $223,885 $230,601 $237,519 $244,645 $251,984 $259,544 $267,330 $275,350 $283,611Water & Sewer $43,200 $44,496 $45,831 $47,206 $48,622 $50,081 $51,583 $53,131 $54,724 $56,366 $58,057 $59,799 $61,593 $63,441 $65,344Electric $16,650 $17,150 $17,664 $18,194 $18,740 $19,302 $19,881 $20,477 $21,092 $21,724 $22,376 $23,047 $23,739 $24,451 $25,185Elevators (2 @ $450/mo each) $10,800 $11,124 $11,458 $11,801 $12,155 $12,520 $12,896 $13,283 $13,681 $14,092 $14,514 $14,950 $15,398 $15,860 $16,336Lawn $10,800 $11,124 $11,458 $11,801 $12,155 $12,520 $12,896 $13,283 $13,681 $14,092 $14,514 $14,950 $15,398 $15,860 $16,336Pest Control $5,400 $5,562 $5,729 $5,901 $6,078 $6,260 $6,448 $6,641 $6,841 $7,046 $7,257 $7,475 $7,699 $7,930 $8,168Repair & Maintenance $40,500 $41,715 $42,966 $44,255 $45,583 $46,951 $48,359 $49,810 $51,304 $52,843 $54,429 $56,061 $57,743 $59,476 $61,260Insurance $247,500 $254,925 $262,573 $270,450 $278,563 $286,920 $295,528 $304,394 $313,526 $322,931 $332,619 $342,598 $352,876 $363,462 $374,366Legal & Accounting $15,000 $15,450 $15,914 $16,391 $16,883 $17,389 $17,911 $18,448 $19,002 $19,572 $20,159 $20,764 $21,386 $22,028 $22,689Fees & Permits $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $2,460 $2,534 $2,610 $2,688 $2,768 $2,852 $2,937 $3,025RE Taxes (Personal Ppty Taxes All Units) $10,000 $10,300 $10,609 $10,927 $11,255 $11,593 $11,941 $12,299 $12,668 $13,048 $13,439 $13,842 $14,258 $14,685 $15,126Non Ad Valorem Taxes $29,250 $30,128 $31,031 $31,962 $32,921 $33,909 $34,926 $35,974 $37,053 $38,165 $39,310 $40,489 $41,704 $42,955 $44,243Reserves $27,000 $27,810 $28,644 $29,504 $30,389 $31,300 $32,239 $33,207 $34,203 $35,229 $36,286 $37,374 $38,496 $39,650 $40,840Marketing $5,000 $5,150 $5,305 $5,464 $5,628 $5,796 $5,970 $6,149 $6,334 $6,524 $6,720 $6,921 $7,129 $7,343 $7,563PBC Loan Monitoring Fee$4,500$4,635 $4,774$4,917 $5,065 $5,217 $5,373 $5,534$5,700$5,871 $6,048$6,229 $6,416$6,608$6,807TOTAL EXPENSES $758,600 $781,358 $804,799 $828,943 $853,811 $879,425 $905,808 $932,982 $960,972 $989,801 $1,019,495 $1,050,080 $1,081,582 $1,114,030 $1,147,451NET OPERATING INCOME $1,311,458 $1,330,101 $1,348,889 $1,367,819 $1,386,886 $1,406,086 $1,425,413 $1,444,863 $1,464,431 $1,484,110 $1,503,894 $1,523,777 $1,543,751 $1,563,811 $1,583,946LESS DEBT SERVICE1st Mortgage $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619 $945,619Palm Beach County Loan (See Note 1)$121,400$121,400$121,400$121,400$121,400$121,400$121,400$369,731$369,731$369,731$369,731$369,731$369,731$369,731$369,731TOTAL DEBT SERVICE $1,067,019 $1,067,019 $1,067,019 $1,067,019 $1,067,019 $1,067,019 $1,067,019 $1,315,350 $1,315,350 $1,315,350 $1,315,350 $1,315,350 $1,315,350 $1,315,350 $1,315,350DEBT SVCE COVER (ALL DEBT) 1.23 1.25 1.26 1.28 1.30 1.32 1.34 1.10 1.11 1.13 1.14 1.16 1.17 1.19 1.20 DEBT SVCE COVER (1st MTGE) 1.39 1.41 1.43 1.45 1.47 1.49 1.51 1.53 1.55 1.57 1.59 1.61 1.63 1.65 1.68 NET CASH FLOW $244,439 $263,082 $281,870 $300,800 $319,867 $339,067 $358,394 $129,513 $149,081 $168,760 $188,544 $208,427 $228,401 $248,461 $268,596VACANCY AND GROWTH FACTORS----------------------------------- ------------------------ ----------------------Vacancy on Gross Income 5.00%Income Growth Factor2.00%Expense Growth Factor 3.00%15 YEAR PROJECTION OF INCOME & EXPENSESNote 1 - Palm Beach County loan is anticipated to have a rate of 1% interest/annum, with interest-only payments for 10 years (3 yr - Construction /Lease-Up period & 7 yr Operational Period). Amortization (based on a 40 yr term) to commence in year 11.Page 3 of 51455 CITY VIEW SCENARIO 1 (4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt) $195,000 $75,000 $80,000 $60,000 $10,000 $50,000 $470,000 $120,000 $250,000 $50,000 $75,000 $30,000 $25,000 $10,000 $15,000 $7,500 $5,000 $0 $587,500 $2,803,500 $85,500 $2,889,000 $180,000 $15,000 $5,000 $200,000 LEGAL & CONSULTING FEES: HFA of P Beach TEFRA & Bond Appl Fees Misc Other Bond Issuance Costs Borrower´s Counsel (Incl. Tax Cdt. & R. Estate Closings) Construction Lender´s Counsel Perm Lender Counsel Add'l Legal Matters Trustee/Issuer Counsel Bond & HFA Counsel TOTAL Trustee Fees (.06% of Constr Bond Amount/yr - 2 yrs) HFA Fees During Construction (.15% of Constr Bond Amount/yr - 2 yrs) Issuer Closing Fees (.20% of Constr. Bond Amount) Constr Loan Fee (1.0% of Loan Amount) Perm Loan Fee (1.0% of Loan Amount) FINANCING FEES: TOTAL Misc Recording Title Updates Title Premium TITLE & RECORDING: TOTAL TOTAL Palm Beach County Loan ($12,140,000) 1st Mortgage ($25,000,000) Perm Loan Application Fee CONSTRUCTION INTEREST CALCULATION: Perm Loan Conversion Fee Other Conversion Fees, etc. Page 4 of 5 1456 CITY VIEW SCENARIO 1 (4% Housing Credits, Tax-Exempt Bonds & Subordinate Debt) 6.900% 0.313% 0.040% 7.253% $897.60 $49,440 $1,346.40 $49,440 $532.00 $29,303 $798.00 $29,303 $530.00 $1,060 $400.00 $800 $255.00 $255 $125.00 $125 $10,000 $3,365.85 $181,756 $6,170.25 $222,129 $279.67 $15,102 $561.62 $20,218 $1,914 $172,260 $0.00 $0 $0.00 $0 $200.45 $10,824 $243.20 $8,755 $0.00 $0 $0.00 $0 $365.00 $32,850 $2,554.55 $229,910 $277,500 $277,500 ($276,308) $787,221 NOTES: Water Facilities (incl. 2% Admin Fee) 1st Mortgage Interest Rate: WATER & SEWER CONNECTION FEES 1-in (Boynton Beach) 1-in (Boynton Beach) Base Rate Trustee Fee HFA Fee (15 b pts on $25 million in bonds) TOTAL Sewer Facilities (incl. 2% Admin Fee) 2-Bedroom 1-Bedroom IMPACT FEES (City Fees Effective 10/16/24 & County Fees Effective 1/1/26): 1-Bedroom 2-in (Boynton Beach) 2-in (Boynton Beach) Inspection Fees (Est) Meter Deposit (1-Meter) Meter Connection (1-Meter) Meter Deposit (2-Meters) Meter Connection (2-Meters) 2-Bedroom per unit (less than 800 sq ft) per unit (less than 800 sq ft) per unit (801 - 1399 sq ft) per unit (less than 800 sq ft) per unit per unit (801 - 1399 sq ft) per unit (less than 800 sq ft) County Schools County Parks County Libraries City Parks County Public Buildings Palm Beach County Impact Fee Funding TOTAL WATER & SEWER and IMPACT FEES DUE: 1 - Palm Beach County does not require projects in Boynton Beach to pay County Library, Fire or Police Impact Fees. 2 - The percent of the project dedicated to affordable housing is exempt from the Public Art Fee Payment. per unit (801 - 1,399 sq ft) City Public Art Fee (WAIVED)2 County Roads1 City Police2 1% of construction value per unit per unit County Fire1 County Police1 per unit per unit per unit (801 - 1399 sq ft) Page 5 of 5 1457 5/23/2025 CITY VIEW SCENARIO 2 (9% Housing Credits, Conventional & Subordinate Debt) PROJECTED FUNDING FROM BOYNTON BEACH CRA: $2,400,000 INCOME LIMITS --------------------------------------------------------------------------------------------------------------------------------------------------- 2025 $111,800 (FHFC Effective Date: 4/01/25) --------------------------------------------------------------------------------------------------------------------------------------------------- Number Percentage Income Percentage Income Percentage Income of Persons of Median Limits of Median Limits of Median Limits --------------------------------------------------------------------------------------------------------------------------------------------------- 1 60% $49,140 50% $40,950 30% $24,570 2 60% $56,160 50% $46,800 30% $28,080 3 60% $63,120 50% $52,600 30% $31,560 4 60% $70,140 50% $58,450 30% $35,070 5 60% $75,780 50% $63,150 30% $37,890 6 60% $81,420 50% $67,850 30% $40,710 RESIDENTIAL RENTAL INCOME (FHFC Effective Date: 4/01/25) ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- Number Gross Utility Max Tax Estimated Total Annual of Units1 Rent Allowance2 Cdt Rent Rent3 Rent Rent ----------------------------------------------------------------------------------------------------------------------------------------- 1 Bdr @ 60% of AMI 40 1,316$ 190$ 1,126$ 1,881$ 75,240$ 902,880$ 2 Bdr @ 60% of AMI 27 1,578$ 223$ 1,355$ 2,195$ 59,265$ 711,180$ 1 Bdr @ 50% of AMI 8 1,316$ 190$ 1,126$ 1,881$ 15,048$ 180,576$ 2 Bdr @ 50% of AMI 6 1,578$ 223$ 1,355$ 2,195$ 13,170$ 158,040$ 1 Bdr @ 33% of AMI 6 1,096$ 190$ 906$ 1,881$ 11,286$ 135,432$ 2 Bdr @ 33% of AMI 3 1,315$ 223$ 1,092$ 2,195$ 6,585$ 79,020$ ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL 90 180,594$ 2,167,128$ 1- Unit Mix & Income Set-Asides subject to change, provided that all units will be at 60% of AMI or lower. OTHER INCOME --------------------------------------------------------------------------------------------------------------------------------------------------- Non Residential Income Item SF $/SF Income --------------------------------------------------------------------------------------------------------------------------------------------------- Cable TV, Misc. Income, etc. 0 0 0 11,880$ --------------------------------------------------------------------------------------------------------------------------------------------------- Total 11,880$ $13,585,000 8.091% 7.50% $1,099,150 35 28.60% Yes $150,944 $4,700,000 1.00% 1.00% $47,000 40 9.89% See Note 1 $52,222 2- PBC Section 8 schedule effective 1/1/2025, electric only. Water & sewer paid by Owner. 3- Household rents will not exceed 30% of the annual income of each household, as applicable. Remaining rent to be paid by rental assistance payments (subject to procurement). Per Unit PALM BEACH COUNTY LOAN1 Notes: % of Project Costs Debt Service Constant PERM DEBT STRUCTURE 1st MORTGAGE Term/Amortization Period Rate Amount Term/Amortization Period Amortization (Yes/No) Amortization (Yes/No) 1 - Palm Beach County loan is anticipated to have a rate of 1% interest/annum, with interest-only payments for 10 years (3 yr - Construction /Lease-Up period & 7 yr Operational Period). Amortization (based on a 40 yr term) to commence in year 11. Per Unit % of Project Costs Debt Service ConstantAmount Rate Page 1 of 5 1458 CITY VIEW SCENARIO 2 (9% Housing Credits, Conventional & Subordinate Debt) --------------------- ------------------------- ----------------------- ------------------- ------------------------ SOURCES PERMANENT CONSTRUCTION --------------------- ------------------------- ----------------------- ------------------- ------------------------ FINANCING 1st Mortgage $13,585,000 $23,000,000 Palm Beach County Loan $4,700,000 $4,250,000 Boynton Beach CRA $2,400,000 $2,400,000 Deferred Developer Fee $427,639 $3,336,951 ------------------- ------------------------ $21,112,639 $32,986,951 CAPITAL CONTRIBUTION Limited Partners $26,387,361 $14,513,049 ------------------- ------------------------ $26,387,361 $14,513,049 TOTAL SOURCES $47,500,000 $47,500,000 --------------------- ------------------------------------------------- ------------------- ------------------------ USES PERMANENT CONSTRUCTION --------------------- ------------------------------------------------- ------------------- ------------------------ Land $4,425,000 $4,425,000 Construction Cost $27,750,000 $27,750,000 Construction Contingency $1,387,500 $1,387,500 Lender's Inspector $45,000 $45,000 Architect/Engineering/Env. $900,000 $900,000 Building Permits $453,000 $453,000 Personal Property $150,000 $150,000 Real Estate Taxes $295,000 $295,000 Insurance $315,000 $315,000 Legal & Consulting Fees $327,550 $327,550 Title & Closing $200,000 $200,000 Accounting Fees $50,000 $50,000 Appraisal / Market Study $20,000 $20,000 Marketing $100,000 $100,000 Impact / Water & Sewer Fees $787,221 $787,221 LIHTC Underwriting, App. Fees $20,067 $20,067 LIHTC Admin. Fee $264,336 $264,336 LIHTC Compliance Fee $245,000 $245,000 Soft Cost Contingency $230,000 $230,000 Operating Reserve $465,000 $465,000 Constr. / Perm Loan Fees $373,000 $373,000 Construction Interest $2,325,000 $2,325,000 Other FHFC Fees $125,000 $125,000 Interest on Land Acquisition $368,750 $368,750 ------------------- ------------------------ $41,621,424 $41,621,424 Developer Overhead & Fee $5,878,576 $5,878,576 TOTAL USES $47,500,000 $47,500,000 Page 2 of 5 1459 CITY VIEWSCENARIO 2 (9% Housing Credits, Conventional & Subordinate Debt)1 2 3 4 5 6 7 8 9 101112131415RENTAL & OTHER INCOMETotal Residential Rent$2,167,128$2,210,471$2,254,680$2,299,774$2,345,769$2,392,684$2,440,538$2,489,349$2,539,136$2,589,919$2,641,717$2,694,551$2,748,442$2,803,411$2,859,479Cable TV, Misc. Income, Etc. $11,880$12,118$12,360$12,607$12,859 $13,116$13,379 $13,646$13,919 $14,198$14,482 $14,771 $15,067$15,368$15,675TOTAL GROSS INCOME $2,179,008 $2,222,588 $2,267,040 $2,312,381 $2,358,628 $2,405,801 $2,453,917 $2,502,995 $2,553,055 $2,604,116 $2,656,199 $2,709,323 $2,763,509 $2,818,779 $2,875,155Less Vacancy $108,950$111,129$113,352$115,619$117,931$120,290$122,696$125,150$127,653 $130,206$132,810$135,466$138,175 $140,939$143,758EFFECTIVE GROSS INCOME $2,070,058 $2,111,459 $2,153,688 $2,196,762 $2,240,697 $2,285,511 $2,331,221 $2,377,845 $2,425,402 $2,473,910 $2,523,389 $2,573,856 $2,625,334 $2,677,840 $2,731,397LESS OPERATING EXPENSESManagement Fee $103,500 $105,573 $107,684 $109,838 $112,035 $114,276 $116,561 $118,892 $121,270 $123,696 $126,169 $128,693 $131,267 $133,892 $136,570Admin (Incl. Payroll) $187,500 $193,125 $198,919 $204,886 $211,033 $217,364 $223,885 $230,601 $237,519 $244,645 $251,984 $259,544 $267,330 $275,350 $283,611Water & Sewer $43,200 $44,496 $45,831 $47,206 $48,622 $50,081 $51,583 $53,131 $54,724 $56,366 $58,057 $59,799 $61,593 $63,441 $65,344Electric $16,650 $17,150 $17,664 $18,194 $18,740 $19,302 $19,881 $20,477 $21,092 $21,724 $22,376 $23,047 $23,739 $24,451 $25,185Elevators (2 @ $450/mo each) $10,800 $11,124 $11,458 $11,801 $12,155 $12,520 $12,896 $13,283 $13,681 $14,092 $14,514 $14,950 $15,398 $15,860 $16,336Lawn $10,800 $11,124 $11,458 $11,801 $12,155 $12,520 $12,896 $13,283 $13,681 $14,092 $14,514 $14,950 $15,398 $15,860 $16,336Pest Control $5,400 $5,562 $5,729 $5,901 $6,078 $6,260 $6,448 $6,641 $6,841 $7,046 $7,257 $7,475 $7,699 $7,930 $8,168Repair & Maintenance $40,500 $41,715 $42,966 $44,255 $45,583 $46,951 $48,359 $49,810 $51,304 $52,843 $54,429 $56,061 $57,743 $59,476 $61,260Insurance $247,500 $254,925 $262,573 $270,450 $278,563 $286,920 $295,528 $304,394 $313,526 $322,931 $332,619 $342,598 $352,876 $363,462 $374,366Legal & Accounting $15,000 $15,450 $15,914 $16,391 $16,883 $17,389 $17,911 $18,448 $19,002 $19,572 $20,159 $20,764 $21,386 $22,028 $22,689Fees & Permits $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $2,460 $2,534 $2,610 $2,688 $2,768 $2,852 $2,937 $3,025RE Taxes (Personal Ppty Taxes All Units) $10,000 $10,300 $10,609 $10,927 $11,255 $11,593 $11,941 $12,299 $12,668 $13,048 $13,439 $13,842 $14,258 $14,685 $15,126Non Ad Valorem Taxes $29,250 $30,128 $31,031 $31,962 $32,921 $33,909 $34,926 $35,974 $37,053 $38,165 $39,310 $40,489 $41,704 $42,955 $44,243Reserves $27,000 $27,810 $28,644 $29,504 $30,389 $31,300 $32,239 $33,207 $34,203 $35,229 $36,286 $37,374 $38,496 $39,650 $40,840Marketing $5,000 $5,150 $5,305 $5,464 $5,628 $5,796 $5,970 $6,149 $6,334 $6,524 $6,720 $6,921 $7,129 $7,343 $7,563PBC Loan Monitoring Fee$4,500$4,635 $4,774$4,917 $5,065 $5,217 $5,373 $5,534$5,700$5,871 $6,048$6,229 $6,416$6,608$6,807TOTAL EXPENSES $758,600 $780,326 $802,680 $825,684 $849,356 $873,716 $898,785 $924,583 $951,131 $978,452 $1,006,569 $1,035,504 $1,065,283 $1,095,928 $1,127,467NET OPERATING INCOME $1,311,458 $1,331,133 $1,351,008 $1,371,078 $1,391,341 $1,411,795 $1,432,436 $1,453,263 $1,474,271 $1,495,458 $1,516,820 $1,538,352 $1,560,051 $1,581,912 $1,603,930LESS DEBT SERVICE1st Mortgage $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150 $1,099,150Palm Beach County Loan (See Note 1)$47,000$47,000$47,000$47,000$47,000$47,000$47,000$143,141$143,141$143,141$143,141$143,141$143,141$143,141$143,141TOTAL DEBT SERVICE $1,146,150 $1,146,150 $1,146,150 $1,146,150 $1,146,150 $1,146,150 $1,146,150 $1,242,291 $1,242,291 $1,242,291 $1,242,291 $1,242,291 $1,242,291 $1,242,291 $1,242,291DEBT SVCE COVER (ALL DEBT) 1.14 1.16 1.18 1.20 1.21 1.23 1.25 1.17 1.19 1.20 1.22 1.24 1.26 1.27 1.29 DEBT SVCE COVER (1st MTGE) 1.19 1.21 1.23 1.25 1.27 1.28 1.30 1.32 1.34 1.36 1.38 1.40 1.42 1.44 1.46 NET CASH FLOW $165,308 $184,983 $204,858 $224,928 $245,191 $265,645 $286,286 $210,972 $231,980 $253,167 $274,529 $296,061 $317,760 $339,621 $361,639VACANCY AND GROWTH FACTORS----------------------------------- ------------------------ ----------------------Vacancy on Gross Income 5.00%Income Growth Factor2.00%Expense Growth Factor 3.00%15 YEAR PROJECTION OF INCOME & EXPENSESNote 1 - Palm Beach County loan is anticipated to have a rate of 1% interest/annum, with interest-only payments for 10 years (3 yr - Construction /Lease-Up period & 7 yr Operational Period). Amortization (based on a 40 yr term) to commence in year 11.Page 3 of 51460 CITY VIEW SCENARIO 2 (9% Housing Credits, Conventional & Subordinate Debt) $185,000 $45,000 $25,000 $7,050 $58,000 $7,500 $327,550 $135,850 $172,500 $25,000 $10,000 $4,650 $25,000 $373,000 $2,261,000 $64,000 $2,325,000 $10,600 $6,920 $164,480 $13,000 $5,000 $200,000 FHFC Apeal Matters TITLE & RECORDING: CONSTRUCTION INTEREST CALCULATION: Misc Other Lenders' Insurance & Flood Review Fees Environmental Counsel TOTAL Misc Recording Title Updates Title Premium Intangible on Constr Loan (.0035 of Constr. Loan Amount) Doc Stamps on Constr Loan (.002 of Constr. Loan Amount) FINANCING FEES: LEGAL & CONSULTING FEES: TOTAL TOTAL TOTAL Palm Beach County Loan ($4,700,000) 1st Mortgage ($23,000,000) Perm Loan Conversion Fee Perm Loan Application Fee Constr Loan Fee (.75% of Loan Amount) Perm Loan Fee (1.0% of Loan Amount) Borrower´s Counsel (Incl. Tax Cdt. & R. Estate Closings) Construction Lender´s Counsel Perm Lender Counsel Add'l Legal Matters Page 4 of 5 1461 CITY VIEW SCENARIO 2 (9% Housing Credits, Conventional & Subordinate Debt) $897.60 $49,440 $1,346.40 $49,440 $532.00 $29,303 $798.00 $29,303 $530.00 $1,060 $400.00 $800 $255.00 $255 $125.00 $125 $10,000 $3,365.85 $181,756 $6,170.25 $222,129 $279.67 $15,102 $561.62 $20,218 $1,914 $172,260 $0.00 $0 $0.00 $0 $200.45 $10,824 $243.20 $8,755 $0.00 $0 $0.00 $0 $365.00 $32,850 $2,554.55 $229,910 $277,500 $277,500 ($276,308) $787,221 NOTES: Water Facilities (incl. 2% Admin Fee) WATER & SEWER CONNECTION FEES 1-in (Boynton Beach) 1-in (Boynton Beach) Sewer Facilities (incl. 2% Admin Fee) 2-Bedroom 1-Bedroom IMPACT FEES (City Fees Effective 10/16/24 & County Fees Effective 1/1/26): 1-Bedroom 2-in (Boynton Beach) 2-in (Boynton Beach) Inspection Fees (Est) Meter Deposit (1-Meter) Meter Connection (1-Meter) Meter Deposit (2-Meters) Meter Connection (2-Meters) 2-Bedroom per unit (less than 800 sq ft) per unit (less than 800 sq ft) per unit (801 - 1399 sq ft) per unit (less than 800 sq ft) per unit per unit (801 - 1399 sq ft) per unit (less than 800 sq ft) County Schools County Parks County Libraries City Parks County Public Buildings Palm Beach County Impact Fee Funding TOTAL WATER & SEWER and IMPACT FEES DUE: 1 - Palm Beach County does not require projects in Boynton Beach to pay County Library, Fire or Police Impact Fees. 2 - The percentage of project dedicated to affordable housing is exempt from the Public Art Fee Payment. per unit (801 - 1,399 sq ft) City Public Art Fee (WAIVED)2 County Roads1 City Police2 1% of construction value per unit per unit County Fire1 County Police1 per unit per unit per unit (801 - 1399 sq ft) Page 5 of 5 1462 100 E. Ocean Avenue, 4th Floor BOYNTON BEACH, FL 33435 PH: 561-737-3256 FAX: 561-737-3258 BoyntonBeachCRA.com 4912-9912-6347, v. 1 June , 2025 Mr. Francisco Rojo City View Apartments, Ltd. 3050 Biscayne Boulevard, Suite 300 Miami, Florida 33137 RE: Proposed City View Apartments, Southwest Corner of SE 5th Avenue and Federal Highway, Boynton Beach, Florida Dear Mr. Rojo: On behalf of the Board of the Boynton Beach Community Redevelopment Agency (“CRA”), this letter is to express support for the project proposed by City View Apartments, Ltd. and its general partner Pine Ridge Holistic Living Center, Inc. (collectively, “City View”) to construct a mixed use project with at least 90 senior rental apartments and 4,700 square feet of commercial space consistent with future development approval(s) from the City of Boynton Beach (the “Project”) and to confirm that the CRA will budget $______________ (the “CRA Contribution”) in its budget each fiscal year from FY26-27 to FY29-30 to reimburse City View for construction of the Project. The CRA Contribution is based on the Project being financed with equity derived from 4% Housing Credits, combined with Tax-Exempt Bonds and subordinate debt from Palm Beach County and/or Florida Housing Finance Corporation (“FHFC”). In the event the Project is financed with equity derived from 9% Housing Credits (as opposed to 4% Housing Credits) combined with other debt, the CRA Contribution will be reduced from $_________ to $2,400,000. The Board has identified a need for the type of senior housing proposed by the Project within t he CRA area. City View has confirmed rent for the senior rental apartments will not exceed 30% of the annual income of each household and estimates that the rent for a one-bedroom, one-bathroom apartment will be $1,881 per month, and the rent for a two-bedroom, two-bathroom apartment will be $2,195 per month, inclusive of any rental assistance, it being understood that said rents are subject to annual revisions as permitted by FHFC. At these rental rates, the CRA anticipates the Project will help address the needs of seniors on limited, fixed incomes. Further, City View indicates the Project will include a clubroom, fitness center, computer center, access-controlled building and security cameras, on-site property management, and on-site maintenance personnel. City View has also stated that each apartment will be built with impact-resistant windows; will contain Energy Star certified appliances including a refrigerator, a dishwasher, bedroom ceiling fans, bathroom ventilation fans, and air conditioning; will have a full-size range and oven, a microwave, a garbage disposal, washer and dryer; and will be wired for high-speed internet and cable. The Project will also meet National Green Building Certification Standards for a Bronze designation. With these features, the CRA believes the Project will not only supply needed senior housing units but will also provide housing of a quality that is deserving of public funding. 1463 100 E. Ocean Avenue, 4th Floor BOYNTON BEACH, FL 33435 PH: 561-737-3256 FAX: 561-737-3258 BoyntonBeachCRA.com 4912-9912-6347, v. 1 For these reasons, the CRA supports the construction of the Project, and commits to budget the above stated funding for the Project. The CRA Contribution is subject to ordinary budget processes and entry into an agreement with City View. If City View obtains funding from Palm Beach County and/or FHFC, the CRA looks forward to entering into such an agreement with City View and to working with City View, the County and/or FHFC, and the community to bring the Project to fruition. Please note that the CRA Contribution would remain in the CRA Budget provided the Project closes on its construction financing by September 30, 2028, and would be disbursed during construction of the Project on a reimbursement basis. Further, the CRA would not require repayment of the CRA Contribution, subject to terms and conditions to be set forth in the agreement referenced herein. Please feel free to contact me with any questions. Sincerely, CRA Board Chair 1464 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 OLD BUSINESS AGENDA ITEM 14.G SUBJECT: Presentation Regarding the CRA Owned Property Located at 211 E. Ocean Avenue SUMMARY: On February 11, 2025, the Board decided to allocate $300,000 for the future adaptive reuse of historic properties, especially for the future redevelopment of 211 E. Ocean Avenue (see Attachment I). The Board directed staff to began evaluating the current condition of the property and bring it back to the Board for further discussion. On March 20, 2025, CRA staff shared the findings of a Limited Structural Assessment from Pennoni, a local engineering firm (see Attachment II). This report identified more immediate surface level repairs that would be needed on the property. A more in-depth structural analysis would be needed to determine the long-term use and rehabilitation options for the property. Since then, CRA staff has been working on the draft scope of work for the expanded assessment. On May 13, 2025, the Board requested an in-depth presentation on the history of the 211 E. Ocean Avenue property since the CRA's acquisition in 2007 during the discussion of the relocation of the Andrews House. Attachment III is a presentation which provides an overview on the following: CRA Acquisition Historic Designation Appraisal History Development History Design & Construction Cost Estimates Limited Structural Assessment Findings and photos Attachment IV is the 2012 Historic Site Designation Application to the City of Boynton Beach Planning & Zoning Division. It provides additional background on the history of the house. FISCAL IMPACT: FY2024-2025, Project Fund, Line Item 02-58200-406; Adaptive Reuse for Historic Properties; $300,000 CRA PLAN/PROJECT/PROGRAM: 2016 CRA Community Redevelopment Plan 1465 •Attachment I - Location Map •Attachment II - Limited Structural Assessment •Attachment III - Presentation on 211 E. Ocean Avenue •Attachment IV - 2012 Historic Designation Application CRA BOARD OPTIONS: To be determined based on Board direction. ATTACHMENTS: Description 1466 Reset Select Language ▼ Search by Address, Owner, or PCN Return Property Info Layers Tools & Reports Help View Property Record Print BOYNTON BEACH CRA LOCATION 211 E OCEAN AVE MUNICIPALITY BOYNTON BEACH PARCEL NO. 08-43-45-28-03-004-0130 SUBDIVISION BOYNTON TOWN OF BOOK/PAGE 30053/1135 SALE DATE 08/03/2018 MAILING ADDRESS 100 E OCEAN AVE FL 4 BOYNTON BEACH FL 33435 4515 USE TYPE 2100 - RESTAURANT TOTAL SQUARE FEET 1736 OWNERS PROPERTY DETAIL SALES INFORMATION   v.1.4a 3/11/25, 3:23 PM PAPA Countywide Map https://gis.pbcgov.org/papagis/papa.html#1/11467 100 E. Ocean Avenue Boynton Beach, FL 33435 Limited Structural Assessment DRAFT Report BBCRA24001 November 5, 2024 Submitted To: Boynton Beach Community Redevelopment Agency Theresa Utterback | Development Services Manager 100 E. Ocean Ave. Boynton Beach, FL 33435 Christopher Lee, PE, FBRSE, SI Structural Division Manager FL Licensed Professional Engineer 73264 This item has been electronically signed and sealed by Christopher Lee using a Digital Signature and date. Printed copies of this document are not considered signed and sealed and the signature must be verified on any electronic copies. 1468 220 Congress Park Drive, Suite 232 T 561-265-6864 www.pennoni.com Delray Beach, FL 33445 Page 1 of 2 November 5, 2024 BBCRA24001 Boynton Beach Community Redevelopment Agency Theresa Utterback | Development Services Manager 100E Ocean Ave. Boynton Beach, FL 33435 RE: STRUCTURAL CONDITION ASSESSMENT DRAFT REPORT 211 EAST OCEAN AVENUE, BOYNTON BEACH, FL 33435 Dear Mrs. Utterback: The following report summarizes limited structural condition assessment of above referenced building as performed by Pennoni Associates Inc. (Pennoni). SCOPE OF WORK The scope of work includes the observation and evaluation of the existing building structure at the address referenced above. A site visit was conducted on October 30, 2024, to identify observable and accessible structural deficiencies or conditions that may require repair. This assessment was limited to visual observations of exposed and accessible parts of the building. Observations of structural members were made from accessible areas in the roof attic and from exposed structural elements in the building's interior and exterior. Per the owner's representative reported to the Pennoni, the building has not been occupied residentially since 2007 and is currently used as storage without air conditioning. The owner's representative indicated that no structural plans are available. This report includes a discussion of the observations, analysis, conclusions, and recommendations resulting from the assessment. The following appendices are included: Appendix A: Structural Summary Table Appendix B: Structural Photographs INTRODUCTION The purpose of this report is to systematically describe the referenced structure, document observations, and, as needed, provide recommendations for repair and rehabilitation. Each section of this report— Description, Observation, Analysis, Conclusions, and Recommendations—reflects our professional opinion regarding the structure's current condition. DESCRIPTION OF STRUCTURE The referenced building is an approximately 1,700 square foot, two-story structure built in 1919. It is wood framed, with wood stud walls, wood joists supporting the second floor, and wood rafters. A crawl space of approximately 12 inches in height is present beneath the building. A single staircase is located on the east 1469 BBCRA24001 211 EAST OCEAN AVENUE, BOYNTON BEACH Boynton Beach Community Redevelopment Agency November 05, 2024 Page 2 of 2 side of the building. No information has been provided by the owner's representative regarding any maintenance, renovations, or structural alterations made to the building. OBSERVATIONS, ANALYSIS & CONCLUSIONS AND RECOMMENDATIONS In general, the building’s structural condition appears to require immediate repair. Detailed summary tables of the visual assessment observations, analysis, conclusions, and recommendations are provided in Appendix A: Structural Summary Table. Note that observation item numbers are coordinated across the appendices (e.g., Item #1 in the summary table corresponds with Photos #1A, #1B, etc.) LIMITATIONS Recommendations provided in this report are narrative in nature, commensurate with the level of effort associated with a limited visual condition assessment and not intended to be used for the solicitation of bids or execution of repair work. Therefore, Pennoni cannot be held responsible for implementation of repairs based on this report alone. If requested, Pennoni can provide a proposal for services beyond the preparation of a condition assessment report, such as the design and documentation of repairs, bid phase services or construction phase services (i.e. RFI review, submittal review, oversight). The evaluation of existing structures and roofing requires that certain assumptions be made regarding the existing conditions. Some of these assumptions may not be confirmed without performing additional invasive investigation and/or altering/destroying otherwise adequate or serviceable portions of the structure. Therefore, Pennoni cannot be held responsible for any latent deficiencies which may exist in the structure, but which have not been discovered as a part of the scope of this evaluation. The opinions and recommendations in this report are based solely on the information provided by the field observations and our engineering experience. The report does not address any other portion of the structure other than those areas mentioned, nor does it provide any warranty, either expressed or implied, for any portion of the existing structure. If you have any questions or comments, please feel free to contact us. Sincerely, PENNONI ASSOCIATES INC. Christopher Lee, PE, FBRSE, SI Sam Yoosefzadeh, E.I. Structural Division Manager U:\Accounts\BBCRA\BBCRA24001 - Limited Structural Ass. 211 Ocean Avenue\DELIVERABLES\FINAL REPORT 1470 Appendix A: Structural Summary Table 1471 Structural Condition Assessment Summary Table T: 215-222-3000 220 Congress Park Drive, Suite 232 T: 561-265-6864 www.pennoni.com Delray Beach, FL 33445 Page 1 of 1 Priorities Legend: Immediate Short Term (less than 1 year) Medium Term (1 to 5 years) Long Term (5 to 7 years+) Maintenance Level Item No.# Photo No.# Observations Analysis and Conclusions Recommendations Overall O OA-OB The building was constructed in 1919, according to information provided by the owner's representative. An addition is observed on the north side of the building, though no information is available regarding the date of this addition. The structure is two stories tall and has two roofing levels (the main roof and the roof of the one-story addition). There is one staircase located on the east side of the main building. The building has deficiencies that require immediate attention. First 1 1A Water damage observed at the one-story ceiling. There is water damage to the ceiling and floor due to assumed roof leaks. It is recommended to address the source of the leak, replace insulation as required, and replace or repair any damaged wood members. Second 2 2A-2E Water damage observed at the 2nd floor ceiling, wall and roof sheathing. See Item #1 See Item #1 All Around the Building 3 3A-3D Deteriorating wood siding has been observed around the entire perimeter of the building. The damage appears to be widespread throughout the building, which is consistent with the age of the structure and lack of maintenance, possibly compounded by other water intrusion issues. While deteriorated siding itself may not constitute a structural failure, it can indicate broader issues with moisture control and the integrity of the building envelope. The damaged siding and any affected underlying members should be repaired to ensure the stability and safety of the building. Additionally, regular maintenance should be considered post- repair to prevent future deterioration. First 4 4A-4C Damaged wood joists and facia have been identified in the overhang area of the building's addition. The damage to the wood joists and facia is significant. Apparent roofing failure has caused most of the deterioration. See Item #1 Yard 5 5A-5B Slab failure at corner and cracking in the backyard slab-on- grade. Broken sections are observed at the corner of the slab-on-grade, potentially caused by inadequate edge thickening. Because there are no control joints in the slab, cracking is likely caused by temperature and shrinkage. It is recommended to, at a minimum, route and seal existing cracks to prevent further deterioration, and to repair the failed corner. Main Entrance 6 6A Damaged wood steps and support frames were observed at the main entrance. Deterioration and rot appears to be due to their age and continuous contact with grade as well as weather exposure. It is recommended to replace the entry steps. 1472 Appendix B: Structural Photographs 1473 BBCRA24001 Appendix B: Structural Photographs Page 1 of 18 Photo #OA: Building South and East Side 1474 BBCRA24001 Appendix B: Structural Photographs Page 2 of 18 Photo #OB: Building North and West Side 1475 BBCRA24001 Appendix B: Structural Photographs Page 3 of 18 Photo #1A: Water Damage at 1-Story Ceiling 1476 BBCRA24001 Appendix B: Structural Photographs Page 4 of 18 Photo #2A: Water Intrusion in Second Floor Ceiling 1477 BBCRA24001 Appendix B: Structural Photographs Page 5 of 18 Photo #2B: Water Damage at 2nd Floor Ceiling 1478 BBCRA24001 Appendix B: Structural Photographs Page 6 of 18 Photo #2C: Water Damage at 2nd Floor Ceiling 1479 BBCRA24001 Appendix B: Structural Photographs Page 7 of 18 Photo #2D: Water Damage at 2nd Floor Ceiling 1480 BBCRA24001 Appendix B: Structural Photographs Page 8 of 18 Photo #2E: Water Damage at Roof Sheathing 1481 BBCRA24001 Appendix B: Structural Photographs Page 9 of 18 Photo #3A: Deteriorated Wood Siding 1482 BBCRA24001 Appendix B: Structural Photographs Page 10 of 18 Photo #3B: Deteriorated Wood Siding 1483 BBCRA24001 Appendix B: Structural Photographs Page 11 of 18 Photo #3C: Deteriorated Wood Siding 1484 BBCRA24001 Appendix B: Structural Photographs Page 12 of 18 . Photo #3D: Deteriorated Wood Siding 1485 BBCRA24001 Appendix B: Structural Photographs Page 13 of 18 Photo #4A: Water Damaged Facia at Overhang 1486 BBCRA24001 Appendix B: Structural Photographs Page 14 of 18 Photo #4B: Water Damaged Facia at Overhang 1487 BBCRA24001 Appendix B: Structural Photographs Page 15 of 18 Photo #4C: Damaged Facia and Joists at Overhang 1488 BBCRA24001 Appendix B: Structural Photographs Page 16 of 18 Photo #5A: Cracks in Concrete Slab-on-Grade 1489 BBCRA24001 Appendix B: Structural Photographs Page 17 of 18 Photo #5B: Broken Edge and Cracks in Slab-on-Grade 1490 BBCRA24001 Appendix B: Structural Photographs Page 18 of 18 Photo #6A: RDagaed Wood Steps and Framing at the Main Entrance Stairs 1491 Magnuson House Presentation 211 E. Ocean Avenue 1492 Property Info •1,736 square foot wood framed structure •Built in 1919 at 211 E. Ocean Avenue •.32 acres •Current Zoning: R3 Multi-family •CRA Plan Future Land Use: Mixed-Use Medium •Cultural District 1493 CRA Acquisition and Historic Designation •The CRA purchased the Magnuson House in February 2007 with the intent to activate redevelopment •It was purchased at appraised value of $850,000 •Until 2007, it was occupied residentially •The house was designated by the local historic register in 2012 •January 10 , 2022 Board meeting: the motion passed to allow the removal of historic designation for future redevelopment (no formal action taken to remove the designation) 1494 Appraisal History Date Appraisal Appraiser December 2006 $850,000 Anderson & Carr February 2009 $1,120,000 Anderson & Carr June 2010 $340,000 Vance Real Estate Service December 2012 $230,000 Aucamp, Dellenback and Whitney August 2013 $230,000 Aucamp, Dellenback and Whitney November 2014 $255,000 Aucamp, Dellenback and Whitney April 2015 $255,000 Aucamp, Dellenback and Whitney June 2019 $510,000 Aucamp, Dellenback and Whitney July 2019 $510,000 Aucamp, Dellenback and Whitney December 2021 $893,000 Vance Real Estate Service 1495 Development History 2007 - 2018 Date Action Acquisition Notes February 2007 BBCRA Purchased Magnuson House $850,000 Purchased from Thomas Walsh October 2010 Request for Lease Proposals for the best use of the Property N/A CRA Board selected The Oscars Restaurant concept – negotiations later failed February 2013 RFP Issued for an Office Use N/A CRA Board voted to reject all responses at the May 2013 meeting November 2014 CRA Agreement with Prakas & Co. to find tenants for Magnuson House N/A CRA received two proposals and motioned to enter into an agreement with Ocean Ridge Hospitality July 2015 Purchase and Development Agreement with Ocean Ridge Hospitality for Pizza Restaurant $255,000 Terminated due to lack of funding September 2016 Purchase and Development Agreement with Shovel Ready for Full-service Restaurant (LOI) $255,000 Property sold August 2018 Purchase and Development Agreement with Shovel Ready Terminated $255,000 Property reverted back to the CRA for $255,000 1496 Development History 2021 - 2025 Date Action Acquisition Notes September 2021 LOI from Sami Dagher N/A Withdrew request in October 2021 September 2021 LOI from Kim Kelly (Hurricane Alley)N/A Withdrew request in October 2021 September 2021 LOI from Florida Technical Consultants N/A Board voted to not move forward with this LOI September 2021 – March 2022 LOI from The Barber Family Co. Purchase and Development Agreement with 306 NE 6th Avenue LLC for Full-service Restaurant $1,000,000 Board selected this LOI to enter into negotiations (a.k.a 306 NE 6th Avenue LLC) February 2024 Purchase and Development Agreement with 306 NE 6th Avenue LLC Terminated $1,000,000 Terminated due to lack of funding April 2025 LOI from Blue Mountain Coffee House N/A Submission to CRA Staff May 2025 Board made a motion to suspend the LOI Policy for 211 E. Ocean Avenue N/A 1497 Design History Date Designer Amount Notes January 2007 REG Architects Inc. $55,000 Provide construction documents to convert to an office use July 2007 REG Architects Inc. $22,000 Feasibility study to convert to an office use April 2008 Hendrick Brothers Construction $22,000 Pre-construction services June 2008 REG Architects Inc. $29,500 Conceptual Site Plan June 2008 REG Architects Inc. $64,000 Revised scope of work to include an elevator and 1,000 square foot 2-story addition February 2009 REG Architects Inc. $5,900 Additional Scope for Construction Administration and Schedule of Values April 2011 REG Architects Inc. $6,000 Feasibility Study and Conceptual Design for restaurant Use April 2011 Kaufman Lynn $6,580 Pre-construction services TOTAL*$210,980 *Approximate amount spent 1498 Construction Cost Estimates Date Designer Cost Estimate End Use December 2007 REG Architects $646,073 (Option 1) $849,094 (Option 2) Option 1: Office Use existing footprint Option 2: Office Use with footprint expansion March 2008 REG Architects $992,843 Office Use with 500 sqft addition May 2009 REG Architects $903,527 Office Use May 2010 REG Architects $349,375 (Option 1) $805,235 (Option 2) Option 1: minor work for retail conversion Option 2: minor 1- story addition for restaurant February 2011 Kaufman Lynn $823,236 Office Use May 2011 REG Architects Inc.$776,400 (Option 1) $758,250 (Option 2) $635.300 (Option 3) Option 1: Restaurant with second floor build-out Option 2: Reduced size restaurant Option 3: Reduced size restaurant with deck June 2011 Kaufman Lynn $949,267 (Option 1) $858,782 (Option 2) $838,424 (Option 3) Option 1: Restaurant with second floor build-out Option 2: Reduced size restaurant Option 3: Reduced size restaurant with deck October 2018 Modern Movers $78,000 Relocation from 211 E. Ocean Avenue to Cottage District Site 1499 Structural Report Summary •2024 Pennoni Limited Structural Assessment Findings: •Water damage in ceiling and floor •Deteriorating wood siding •Damaged wood joists and facia •Slab failure •Damaged wood steps •Cost of report: $3,500 •Additional concerns: windows 1500 1501 1502 1503 1504 1505 1506 1507 1508 1509 1510 1511 1512 1513 1514 1515 1516 1517 1518 1519 1520 1521 1522 1523 1524 1525 1526 1527 1528 1529 1530 1531 1532 1533 1534 1535 1536 1537 1538 1539 1540 1541 1542 1543 1544 1545 1546 1547 1548 1549 1550 1551 1552 1553 1554 1555 1556 1557 1558 1559 1560 1561 1562 1563 1564 1565 1566 1567 1568 1569 1570 1571 1572 1573 1574 1575 1576 1577 1578 1579 1580 1581 1582 1583 1584 1585 1586 1587 1588 1589 1590 1591 1592 1593 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 NEW BUSINESS AGENDA ITEM 15.A SUBJECT: Discussion and Consideration of Requirements per the Purchase and Development Agreement 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 14, 2024, the CRA Board approved the Second Amendment to the PDA for Pulte's request to extend the closing date on the Cottage District Properties (see Attachment III). The closing took place on December 12, 2024. Construction began on March 17, 2025, per Pulte's #8 quarterly report (see Attachment IV). Under the terms of the PDA proof of the following items are outstanding (see attachment V): ¶ 20 l. - Implementation of plan/program to promote local contractors ¶ 20 m. - Prior to and during construction: 20 m.1 - include in all contracts with contractors requirements that the contractors used good faith efforts to hire and train City residents to participate in the construction of the contract 20 m.3 - provide documentation of the efforts and results of local hiring in the required quarterly reports ¶ 21 e. - Pulte shall create and maintain a project website to provide project information to prospective buyers no later than 60 days after commencement of construction ¶ 22 j. - Pulte shall ensure that the Groundbreaking ceremony will occur prior to or simultaneously with the commencement of construction of the first unit A representative from Pulte will be available at the June 10, 2025, CRA Board meeting to discuss the outstanding issues and address any questions related to the project. FISCAL IMPACT: No Fiscal Impact CRA PLAN/PROJECT/PROGRAM: 1594 •Attachment I - Purchase and Development Agreement •Attachment II - First Amendment to Purchase and Development Agreement •Attachment III - Second Amendment to Purchase and Development Agreement •Attachment IV - Pulte Quarterly Report #8 •Attachment V - 5.28.25 Email RE Cottage District Critical Items 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on Board direction. ATTACHMENTS: Description 1595 1596 1597 1598 1599 1600 1601 1602 1603 1604 1605 1606 1607 1608 1609 1610 1611 1612 1613 1614 1615 1616 1617 1618 1619 1620 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. 1621 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 1622 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 1623 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 1624 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. 1625 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 1626 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. 1627 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: _____________________________________ 1628 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 1629 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 Exhibit C: Sample Elevations of Single-Family Product 1630 1,447 A/C Sq. Ft. | 3 Bedrooms | 2 Baths Browning Home Exterior FM1 Home Exterior CO1 1631 • 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 1632 1,662 A/C Sq. Ft. | 3 Bedrooms | 2 Baths Chapman Home Exterior FM1 Home Exterior CO1 1633 • 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 1634 1,822 A/C Sq. Ft. | 3 Bedrooms | 2.5 Baths Hamden Home Exterior FM1 Home Exterior CO1 1635 • 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 1636 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 1637 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. 1638 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. 1639 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: _____________________________________ 1640 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 1641 | 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 1642 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 1643 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 1644 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 1645 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 1646 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 1647 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 1648 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 1649 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 1650 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 1651 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 FLOOR1652 © 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 1653 Browning Model Chapman Model Hamden Model Craftsman Coastal Mediterranean (CRA Board Selected Option) 1654 1655 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. 1656 © 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' 1657 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 1658 Browning1659 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 1660 Chapman1661 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 1662 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 1663 Hamden1664  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 CO4CO5CO61665 BOYNTON COTTAGE DISTRICT UNDER AIR 1666 BOYNTON COTTAGE DISTRICT UNDER AIR 1667 6 Unit A 1668 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 Azul1669 6 Unit B 1670 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 Lullaby1671 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 1672 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 1673 1674 1675 1676 1677 1475 Centrepark Blvd, Suite 140, West Palm Beach, FL 33401 March 28, 2025 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: Please find a copy of the eighth written report required by the Purchase and Development Agreement (PDA) between the Boynton Beach Community Redevelopment Agency (CRA) and Pulte Home Company, LLC for the Cottage District project. Reporting on older items have been condensed or removed from this cover letter but remain in the report. Highlights are listed below. Development Deadlines The PDA outlines development-related deadlines and summarizes them in the attached table. Key milestones include: • Site plan, master plan, rezoning and variance approvals: o Submitted on 8/14/23; approved 2/6/24. • Plat: o Submitted on 2/27/24; approved on 11/19/24 and recorded on December 10, 2024. • Land development permit: o Submitted on 2/27/24; issued on 2/11/25. o A copy of the LDP has been provided via Dropbox link. • Commence site work: o Site work commenced in mid-March. Land Closing Pulte closed on the land on December 13, 2024. Building Permits and Home Construction • Single Family Models: o Single family model permits submitted 7/19/24; issued on 2/28/25. • Townhome Model Building: o permits submitted on 7/25/24; all trades have approved, permits on hold per P&Z staff. • Single family model home construction commenced on 3/18/25. 1678 1475 Centrepark Blvd, Suite 140, West Palm Beach, FL 33401 Sales and Marketing Deadlines • Restrictive Covenant: o Approved on 2/13/24; recorded on 2/12/25 (could not occur until land closing) • Marketing Plan and Website: o Work is underway on both. Pulte and CRA staff will meet to finalize in April. 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 Attachments: PDA Deadlines Land Development and Model Home Construction Schedule Restrictive Covenant (recorded) Dropbox link with copies of approved permits and plans and March 2025 Aerials 1679 Cottage District Land Development and Model Home Construction Schedule Land Development Milestones • Mass earthwork – complete • Underground utilities – underway; complete in mid April • Road construction – start in late April, complete end of May • Landscape and irrigation – start in early April; complete by mid June Homebuilding Milestones (single family models only) • Commence construction – 3/17/25 • Certificate of occupancy – September 1680 Boynton Beach CRA and Pulte Home Company PDA Deadlines Event Due Date Status Development Deadlines Obtain approval from Asset Management Committee Prior to expiration of feasibility period– 6/26/23 COMPLETED Submit applications for platting, site plan and zoning Within 60 days of second deposit – 9/1/23 COMPLETED Provide a copy of all HOA governing documents Prior to Site Plan Approval COMPLETED Submit Plat 90 days within Site Plan Approval APPROVED and RECORDED Obtain all site plan and development permit approvals Within twelve months after application Site plan and rezoning approval obtained on 2/6/24. Land Development Permit (LDP) issued on 2/11/25. Closing Date *Earlier of 30 days 1) after the last of the Closing Conditions has been satisfied or 2) 12 months after the end of the Feasibility period. CLOSED on 12/13/24 Submit building permits Within 180 days of site plan approval, unless City requires additional approvals before permit can be submitted COMPLETED The single family model permits were submitted on 7/19/24 and the townhome model permits were submitted on 7/25/24. Five additional SF permits were also submitted on 11/7/24. To date, all building trades have signed off but permits remain on hold per P&Z staff. Commence site work Within 90 days of land development permit issuance COMMENCED Implement a plan to promote the use of local contractors, sub-contractors and laborers and ensure no less than 15% of the construction costs are performed by local subcontractors Prior to and during construction 15% of the costs have been awarded to local subcontractors (defined by the PDA as those having unincorporated or incorporated Boynton Beach address). Additionally, all sub-contractors have signed an addendum requiring good faith efforts to hire and train Boynton Beach residents whenever possible. Commence construction of dwelling units Within 90 days of first five building permits Lot 3 (Hamden model) permit was issued on 2/28/25. Lot 4 1681 Boynton Beach CRA and Pulte Home Company PDA Deadlines (Chapman model) permit was issued on 2/28/25. Construction commenced in mid-March. Regarding the additional permits (five additional single family units and the TH model permit), to date, all building trades have signed off but permits remain on hold per P&Z staff. Obtain Final Certificate of Occupancy Within two years of commencing construction of the first dwelling unit Date TBD 1682 Boynton Beach CRA and Pulte Home Company PDA Deadlines Event Due Date Status Sales and Marketing Deadlines Form of restrictive covenant Prior to Closing (Due Date updated in the First Amendment) Draft restrictive covenant provided to CRA staff on 6/12/23. Comments received from staff on 6/26/23 and Pulte responded to the comments on 7/18/23. CRA staff responded on 2/13/24 approving the draft. Restrictive covenant recorded on 2/12/25. On 2/21/25, P&Z staff advised that the covenant did not reference participation in the city’s WFH program and was insufficient. The PDA requires participation in the County’s program, not the City’s program. We anticipate that the City Commission will clarify this on 4/15/25 (we’ve submitted a request to staff for this clarification). Groundbreaking Ceremony Prior to or simultaneously with the commencement of construction of the first unit Pulte and CRA staff are discussing dates and will finalize in April. Implementation of sales and marketing plan and launch project website No later than 60 days after Commencement of Construction of the first dwelling unit The website is under construction and will be launched concurrent with the groundbreaking ceremony. Pulte meeting with CRA staff to review the sales and marketing plan in April. Notify seller that units will be sold via lottery At least 45 days prior Date TBD Ribbon Cutting Ceremony Prior to closing, or within 60 days thereafter, of the first unit Date TBD 1683 From:Tack, Timothy To:Aimee Carlson Cc:Utterback, Theresa; Nicklien, Bonnie Subject:FW: Cottage District Critical Items Date:Wednesday, May 28, 2025 7:50:30 AM Attachments:image001.png image002.png image003.png image004.png image005.png image006.png image784466.png image186400.png image083722.png image122695.png image853885.png image853961.png Aimee, As a follow up, this agenda item will be on the June 10th CRA Board meeting. Please confirm that a member of Pulte will be present to address questions from the CRA Board. Thanks, Timothy Tack, P.E. Assistant Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 561-600-9091 TackT@bbfl.us | https://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 law, email addresses are public records. Therefore, your email communication and your email address may be subject to public disclosure From: Tack, Timothy 1684 This Message Is From an External Sender This message came from outside your organization. Sent: Wednesday, May 7, 2025 7:51 AM To: Aimee Carlson <Aimee.Carlson@Pulte.com> Cc: Utterback, Theresa <UtterbackT@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us> Subject: RE: Cottage District Critical Items Aimee, Please confirm if you will be requesting CRA Board approval of the aforementioned model tour in lieu of the groundbreaking ceremony at the May 13th meeting. Also, please confirm that a member of Pulte will be present to address questions from the CRA Board. Thanks, From: Aimee Carlson <Aimee.Carlson@Pulte.com> Sent: Thursday, April 24, 2025 2:53 PM To: Tack, Timothy <TackT@bbfl.us> Cc: Utterback, Theresa <UtterbackT@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us> Subject: RE: Cottage District Critical Items Hi Tim, We provided the marketing plan after our call earlier this month. Do you need me to resend? I understood you were okay with our approach of the model tour vs groundbreaking after we discussed in the call. If we need to discuss with theZjQcmQRYFpfptBannerStart ZjQcmQRYFpfptBannerEndHi Tim, We provided the marketing plan after our call earlier this month. Do you need me to resend? I understood you were okay with our approach of the model tour vs groundbreaking after we discussed in the call. If we need to discuss with the board, please let us know. We will need the chair’s message to launch the website, if not, we will have a hole which will not look good (it will look incomplete). We are tracking for launch per the dates in the plan. We can incorporate the message right before if you need more time to obtain. Thanks From: Tack, Timothy <TackT@bbfl.us> Sent: Thursday, April 24, 2025 2:41 PM To: Aimee Carlson <Aimee.Carlson@Pulte.com> Cc: Utterback, Theresa <UtterbackT@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us> 1685 Subject: Cottage District Critical Items External Sender Aimee, In accordance with the Purchase and Development Agreement, the following items need to be addressed following commencement of construction: 1. Marketing Plan no later than sixty (60) days (¶ 20) 2. Website Launch no later than sixty (60) days (¶ 21) 3. Groundbreaking ceremony will occur prior to or during the commencement of construction of the first unit. (¶ 22) The aforementioned items need to be completed, or will require a waiver by the CRA board. We are working on the Board Chairs message, but I don’t want that to delay the website launch. Thanks, Timothy​​​​ Tack , P.E. Assistant Director Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 561-600-9091 TackT@bbfl.us | https://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 law, email addresses are public records. Therefore, your email communication and your email address may be subject to public disclosure 1686 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. 1687 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 NEW BUSINESS AGENDA ITEM 15.B SUBJECT: Discussion and Consideration of the Purchase of the 13 Parcel Assemblage located at 444 W. Boynton Beach Boulevard SUMMARY: 3.30 acres (143,684 sq. ft.) of property, located at 444 W. Boynton Beach Boulevard and consisting of 13 parcels, has been listed for sale at an asking price of $7.5M (see Attachments I & II). The property is located within the Boynton Beach Boulevard District (see Attachment III). One challenge of the Boynton Beach Boulevard District has been the lack of large parcels ready for redevelopment. Currently, this is the largest assemblage of property being offered for sale on Boynton Beach Boulevard. The 13 parcels are currently zoned C2- Neighborhood Commercial and R1A-Single Family (6 du/ac) with a future land use of Mixed-Use Low allowing 20 units per acre with a maximum height of 45'. This assemblage could be considered for a variety of redevelopment purposes as outlined in Attachment III. An appraisal was performed by Anderson Carr using the sales comparison approach which valued the assemblage at $7,700,000.00 (see Attachment IV). The Seller has provided the following offering to the CRA (see Attachment V): Properties to be delivered unoccupied Purchase Price: $7,100,000.00 with 60 day closing; or Purchase Price: $7,500,000.00 closing on or before 12/31/25 A comparison of similar purchases by the CRA has been provided (see Attachment VI). FISCAL IMPACT: To be determined by the Board. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan – Boynton Beach Boulevard District CRA BOARD OPTIONS: 1. Approve a Purchase and Sale Agreement for the 13 Parcel Assemblage located at 444 W. Boynton Beach Boulevard in an amount determined by the Board. 2. Do not approve a Purchase and Sale Agreement 13 Parcel Assemblage located at 444 W. 1688 •Attachment I - 13 Parcel Assemblage (444 W BBB) - Crexi.com •Attachment II - 13 Parcel Assemblage (444 W BBB) - PAPA Map •Attachment III - Boynton Beach Blvd. District •Attachment IV - Appraisal 444 W BBB •Attachment V - 5.27.25 Seller's Offer - 444 W BBB •Attachment VI - 444 W BBB Comparables Boynton Beach Boulevard. 3. Provide alternative direction based on CRA Board discussion. ATTACHMENTS: Description 1689 w.crexi- Themmeral EstaxchangDetails Property Type Land, Mixed Use, Multifamily, Oce Subtype Apartment Building, Commercial, Residential Investment Type Redevelopment Investment Sub Type Value Add Square Footage 143,913 Net Rentable (sq ft)17,919 Price/Sq Ft $52.11 Cap Rate 6.31% Occupancy 100% NOI $473,604 Zoning C2 Neighborhood/ R1A Single Family Lot Size (acres)3.3 Broker Co-Op Yes Prime 13-Parcel Assemblage | 3.3 Acres | Cash-Flowing Opportunity in Address (13 locations) 444 Boynton Beach Blvd, Boynton Beach, FL 33435 Show on Map 450 Boynton Beach Blvd, Boynton Beach, FL 33435 Show on Map 221 NW 3rd St, Boynton Beach, FL 33435 Show on Map 416 Boynton Beach Blvd, Boynton Beach, FL 33435 Show on Map 432 Boynton Beach Blvd, Boynton Beach, FL 33435 Show on Map 449 NW 1st Ave, Boynton Beach, FL 33435 Show on Map 431 NW 1st Ave, Boynton Beach, FL 33435 Show on Map 435 NW 1st Ave, Boynton Beach, FL 33435 Show on Map 421 NW 1st Ave, Boynton Beach, FL 33435 Show on Map 411 NW 1st Ave, Boynton Beach, FL 33435 Show on Map 203 NW 3rd St, Boynton Beach, FL 33435 Show on Map 215 NW 3rd St, Boynton Beach, FL 33435 Show on Map 433 NW 1st Ave, Boynton Beach, FL 33435 Show on Map Show Less  Date Added Mar 18, 2025 Days on Market 64 days Time Since Last Update 64 days Marketing Description Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more Boynton Beach DevelopmentBoynton Beach Development SiteSite CASH FLOWING LAND ASSEMBLAGE View OM View Flyer Submit LOI Request Info   Street View  Gallery 15  Map View For Sale (/properties)Land (/prope… 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 Property Due Diligence 5/22/25, 9:42 AM Boynton Beach, FL | Crexi.com https://www.crexi.com/properties/1822348/florida-boynton-beach-development-site 1/51690 Boynton Beach, FL Seize this rare opportunity to acquire a highly desirable 13-parcel assemblage spanning 3.3 acres at the gateway entrance to Boynton Beach, FL. This income-producing property is strategically located in a high-growth corridor, oering both immediate cash ow and long-term development potential. Key Highlights: ✅ Strategic Location – Positioned at the main entrance to Boynton Beach, ensuring maximum visibility and accessibility. ✅ Income-Producing – A stabilized, cash-owing investment with strong existing tenants, providing immediate returns. ✅ Future Development Potential – Ideal for mixed-use, multifamily, retail, or commercial redevelopment, capitalizing on the area’s booming real estate market. ✅ High-Trac Area – Surrounded by thriving businesses, retail centers, and major roadways, making it a prime site for future growth. ✅ Rare Assemblage – Large, contiguous parcels are hard to nd in this high-demand area. Whether you’re an investor looking for passive income or a developer planning a transformative project, this prime Boynton Beach assemblage oers the perfect balance of cash ow and future upside. Don’t miss out on this exceptional opportunity in one of South Florida’s fastest-growing markets! Contact us today to discuss this exclusive oering. The Land Parcel Portfolio presented represents a unique investment opportunity in the vibrant city of Boynton Beach, Florida. Comprising a strategically curated selection of prime land parcels, this portfolio oers investors a chance to capitalize on the dynamic growth and development landscape of one of South Florida’s most promising markets. Situated in the heart of Palm Beach County, Boynton Beach boasts a strategic location with easy access to major transportation arteries, including Interstate 95 and Florida’s Turnpike. Its proximity to key urban centers such as Miami and West Palm Beach positions it as a hub for commerce, culture, and recreation. MARKET APPEAL Boynton Beach is experiencing a surge in economic activity driven by a growing population, robust tourism sector, and favorable business climate. With an expanding job market, ourishing healthcare industry, and a diverse array of cultural and recreational amenities, the city appeals to investors seeking long-term growth and stability. The Land Parcel Portfolio in Boynton Beach presents investors with the chance to participate in the city’s transformational growth story. With strong demand for real estate across various sectors, this portfolio represents a compelling opportunity to capitalize on the city’s upward trajectory. Strategic Investment-Positioned in a rapidly developing area with strong growth potential, oering an opportunity for strategic investment Investment Highlights Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more Boynton Beach DevelopmentBoynton Beach Development SiteSite CASH FLOWING LAND ASSEMBLAGE View OM View Flyer Submit LOI Request Info   Street View  Gallery 15  Map View For Sale (/properties)Land (/prope…Property Due Diligence 5/22/25, 9:42 AM Boynton Beach, FL | Crexi.com https://www.crexi.com/properties/1822348/florida-boynton-beach-development-site 2/51691 investment. Flexible Zoning-Zoned for multiple uses, including residential, commercial, or recreational, providing exibility for various development options. High Visibility-Located in a high-trac area with excellent visibility and exposure, ideal for retail or commercial ventures seeking maximum visibility. Valuation Calculator Loan Amount  $0.00 Annual Debt Service  $-- $-- Annual Cash Flow  $473,604.00 $39,467.00/mo Valuation Metrics Login or Sign up to see Valuation Metrics Sign up for Crexi to see valuation metrics for this property DSCR Cap Rate ROI  Valuation Calculator Purchase Price * $7,500,000 Net Operating Income * $473,604 Down Payment $7,500,000 100% Interest Rate * 0% - 100% Term (years)* Enter a Value Similar Properties See More (/properties/FL/Boynton_Beach/Land) $6,200,000 Jupiter Bay Development Site Final Development Plan Approval i… Unpriced Palm Beach Outdoor Storage Property Available for Sale or Lease  Opportunity Zone  Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more Boynton Beach DevelopmentBoynton Beach Development SiteSite CASH FLOWING LAND ASSEMBLAGE View OM View Flyer Submit LOI Request Info   Street View  Gallery 15  Map View For Sale (/properties)Land (/prope…Property Due Diligence 5/22/25, 9:42 AM Boynton Beach, FL | Crexi.com https://www.crexi.com/properties/1822348/florida-boynton-beach-development-site 3/51692 3255 Jupiter Blvd SE Palm Bay, FL 32909 REACTION COMMECRI… 100 Benoist Farms Rd West Palm Beach, FL 33411 View OM View Flyer Location Insights Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more Boynton Beach DevelopmentBoynton Beach Development SiteSite CASH FLOWING LAND ASSEMBLAGE View OM View Flyer Submit LOI Request Info   Street View  Gallery 15  Map View For Sale (/properties)Land (/prope…Property Due Diligence 5/22/25, 9:42 AM Boynton Beach, FL | Crexi.com https://www.crexi.com/properties/1822348/florida-boynton-beach-development-site 4/51693 *All information is deemed reliable but not guaranteed. Buyer to verify all information. Is there information that looks o? Report Home (https://www.crexi.com) Add Listing (https://www.crexi.com/add-properties) About Us (https://www.crexi.com/about-us) Blog (https://www.crexi.com/blog/) Careers (https://boards.greenhouse.io/crexi) Learn Center (https://learn.crexi.com/en/)  (//www.linkedin.com/company/commercial-real-estate-exchange-inc-/)  (//www.facebook.com/CREXinc/)  (//twitter.com/CREXinc)  (//www.instagram.com/crexi_cre/)  (//www.youtube.com/c/CREXi/featured) For assistance, reach out to our support team at support@crexi.com (mailto:support@crexi.com) or call 888.273.0423 (tel:8882730423) . Texas Real Estate Commission Information About Brokerage Services Consumer Protection Notice © 2025 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591 Do not sell or share my personal information (https://crexi.bigidprivacy.cloud/consumer/#/o2TCsG9LJ7) Tax Notices (https://www.crexi.com/tax- notices) Licensing (https://www.crexi.com/licensing) Terms & Conditions (https://www.crexi.com/tos) Privacy Policy (https://www.crexi.com/privacy) Additional Information Broker Name William Cunningham Broker License FL 3369482 Brokerage Name Coldwell Banker Broker Title Associate Broker Brokerage Address 1185 East Atlantic Avenue, Delray Beach, United States 33483 Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more Boynton Beach DevelopmentBoynton Beach Development SiteSite CASH FLOWING LAND ASSEMBLAGE View OM View Flyer Submit LOI Request Info   Street View  Gallery 15  Map View For Sale (/properties)Land (/properties/Land)…Property Due Diligence 5/22/25, 9:42 AM Boynton Beach, FL | Crexi.com https://www.crexi.com/properties/1822348/florida-boynton-beach-development-site 5/51694 w.crexi- Themmeral Estaxchang Details Property Type Mixed Use Square Footage 17,919 Units 13 Year Built 1965 Zoning C-2 This 13-property investment opportunity oers strong cash ow from day one, making it an excellent choice for investors seeking steady returns with signicant future upside. The portfolio is fully leased, generating consistent rental income, and strategically positioned in a high-growth area with increasing demand. Beyond the immediate cash ow, this investment presents a compelling long-term play, as the site holds tremendous potential for redevelopment. With the right vision and approvals, investors can capitalize on the opportunity to enhance value through a thoughtfully designed site plan, maximizing the property's future appreciation and income potential. Prime 13-Parcel Assemblage | 3.3 Acres | Cash-Flowing Opportunity in Boynton Beach, FL Seize this rare opportunity to acquire a highly desirable 13-parcel assemblage spanning 3.3 acres at the gateway entrance to Boynton Beach, FL. This income-producing property is strategically located in a high-growth corridor, oering both immediate cash ow and long-term development potential. Key Highlights: Strategic Location - Positioned at the main entrance to Boynton Beach, ensuring maximum visibility and accessibility. Income-Producing - A stabilized, cash- owing investment with strong existing tenants, providing immediate returns. Future Development Potential - Ideal for mixed-use, multifamily, retail, or commercial redevelopment, capitalizing on the area's booming real estate market. High-Trac Area - Surrounded by thriving businesses, retail centers, and major roadways, making it a prime site for future growth. Rare Assemblage - Large, contiguous parcels are hard to nd in this high-demand area. Whether you're an investor looking for passive income or a developer planning a Address 444 W Boynton Beach Boulevard, Boynton Beach, FL 33435 Show on Map Date Added Jun 29, 2021 Days on Market 1423 days Time Since Last Update 64 days Explore more in-depth Comp & Record details for this property. INTELLIGENCE Marketing Description Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more 444 W Boynton Beach444 W Boynton Beach Boulevard EBoulevard E MIXED USE | 17,919 SF View Flyer Submit LOI Request Info  Street View  Gallery 15  Map View Explore For Sale (/properties)… 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 Property Due Diligence 5/22/25, 9:34 AM 444 W Boynton Beach Boulevard, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/628372/florida-444-w-boynton-beach-boulevard-e 1/41695 transformative project, this prime Boynton Beach assemblage oers the perfect balance of cash ow and future upside. Don't miss out on this exceptional opportunity in one of South Florida's fastest-growing markets! Reach out today to discuss this exclusive oering. Whether you're looking for reliable passive income or a strategic redevelopment project, this investment oers the best of both worlds. Dialogue with city ocials has yielded support for a 187-unit redevelopment, inclusive of a 25% density bonus, enhancing the site's potential. We believe after those discussions that if a developer were to come with the right plan and vision there is a great opportunity to achieve around 250 units. Additionally, discussions with MSA, a respected local architectural rm with a track record in Boynton Beach, indicate alignment on the viability of redevelopment. Should this be of interest, MSA's proposal of services is available upon request. Powered by Beachesmls Learn More Valuation Calculator Loan Amount  $0.00 Annual Debt Service  $-- $-- Annual Cash Flow  $-- $-- Valuation Metrics Login or Sign up to see Valuation Metrics Sign up for Crexi to see valuation metrics for this property DSCR Cap Rate ROI  Valuation Calculator Purchase Price * $7,500,000 Net Operating Income * Enter an Amount Down Payment $7,500,000 100% Interest Rate * 0% - 100% Term (years)* Enter a Value Similar PropertiesSee More (/properties/FL/Boynton_Beach/Mixed-Use) Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more 444 W Boynton Beach444 W Boynton Beach Boulevard EBoulevard E MIXED USE | 17,919 SF View Flyer Submit LOI Request Info  Street View  Gallery 15  Map View For Sale (/properties)…Property Due Diligence 5/22/25, 9:34 AM 444 W Boynton Beach Boulevard, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/628372/florida-444-w-boynton-beach-boulevard-e 2/41696 $7,500,000 Boynton Beach Development … Cash Flowing Land Assemblage 13 LOCATIONS $8,450,000 Lauderhill Pointe INCOME PRODUCING • VALUE A… 3908 NW 19th St Lauderhill, FL 33311  View OM  Opportunity Zone View OM  Location Insights Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more 444 W Boynton Beach444 W Boynton Beach Boulevard EBoulevard E MIXED USE | 17,919 SF View Flyer Submit LOI Request Info  Street View  Gallery 15  Map View For Sale (/properties)…Property Due Diligence 5/22/25, 9:34 AM 444 W Boynton Beach Boulevard, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/628372/florida-444-w-boynton-beach-boulevard-e 3/41697 *All information is deemed reliable but not guaranteed. 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DRE #02086591 Do not sell or share my personal information (https://crexi.bigidprivacy.cloud/consumer/#/o2TCsG9LJ7) Tax Notices (https://www.crexi.com/tax- notices) Licensing (https://www.crexi.com/licensing) Terms & Conditions (https://www.crexi.com/tos) Privacy Policy (https://www.crexi.com/privacy) Additional Information Broker Name William Cunningham Broker License FL 3369482 Brokerage Name Coldwell Banker Broker Title Associate Broker Brokerage Address 1185 East Atlantic Avenue, Delray Beach, United States 33483 Listing Contacts William Cunningham PRO License: FL 3369482, FL 3369482 Phone Number: Sign Up or Log In to see phone number View my prole Active Asking Price:$7,500,000 Learn more 444 W Boynton Beach444 W Boynton Beach Boulevard EBoulevard E MIXED USE | 17,919 SF View Flyer Submit LOI Request Info  Street View  Gallery 15  Map View For Sale (/properties)…Property Due Diligence 5/22/25, 9:34 AM 444 W Boynton Beach Boulevard, Boynton Beach, FL 33435 | Crexi.com https://www.crexi.com/properties/628372/florida-444-w-boynton-beach-boulevard-e 4/41698 0 0.04 0.070.02MilesmScale: 1:2,257Date: 5/22/2025Time: 10:02 AM1699 55 Boynton Beach Boulevard District Introduction Planning Challenges Planning Considerations The Vision Recommendations 1700 56D.District PlansIntroduction Currently there is no adopted plan for the Boynton Beach Boulevard corridor. There were public workshops held in 2005 to discuss the vision for the corridor, and many of the recommendations from those workshops are incorporated into this plan. There has been little redevelopment progress along the corridor at the scale envisioned by this Plan due to lack of developable parcels, no clear development vision and little to no public investment. The CRA invested in a public parking lot in 2015 to serve the future downtown growth. The Agency is currently in the planning phase for improvements to Boynton Beach Boulevard. The Boynton Beach Boulevard District consists of the Boynton Beach Boulevard corridor between I-95 and the FEC Railway. The District extends north to N.E. 3rd Avenue and south to W. Ocean Avenue (west of Seacreast Boulevard) and N.E. 1st Avenue (East of Seacrest Boulevard). This area is the main entry into the downtown from the I-95 exit and will therefore establish the first impression that visitors and many residents have of the City. The district also provides easy access to the City’s public beach, the Boynton Harbor Marina, City Hall, the Children’s Schoolhouse Museum and the Library. The areas directly north and south of the District are predominately large single-family neighborhoods. There is no buffer between the commercial uses fronting the corridor and residential uses which has held back property values in these neighborhoods. N Seacrest Blvd.FEC RailroadBoynton Beach Blvd. NE 1st Ave NE 3rd Ave W. Ocean Ave Planning Challenges As the City’s population grew, Boynton Beach Boulevard was widened to five lanes thereby accommodating higher traffic speeds and higher traffic volume, while lowering the aesthetic quality of the corridor. Additionally, commercial zoning only extends one-half block deep from Boynton Beach Boulevard which represents insufficient land necessary to support the land assembly and redevelopment for viable commercial uses. As a consequence, business activity along the corridor has primarily consisted of minimal conversion of single-family houses to commercial uses rather than redevelopment at the scale envisioned for this Plan. Nearly all of the parking for the businesses along the Boulevard is Figure 10: Boynton Beach District Location Map 1701 57 in front of the buildings meaning that in many cases, cars have to back out into traffic. There are numerous curb cuts for each commercial use along the corridor leaving little room for landscape improvements and the pedestrian zone. Due to the widening of the Boynton Beach Boulevard over the years, vehicular use has been emphasized over pedestrian or bike use. Under the current configuration of the roadway, there is insufficient right-of-way for landscaping, wider sidewalks, bike lanes, bus shelters and street furniture. Recently large utility poles were installed on the south side of the Boulevard adding to the visual blight of the corridor. There are only three signalized intersections that have formal pedestrian crossing zones. Pedestrians must walk several blocks in order to cross the Boulevard. There are no destinations along the corridor to attract the interest of visitors or residents other than City Hall and the Post Office. The majority of the businesses belong to the small service industry with few employees. The buildings are outdated, being constructed from the 1930’s to the 1970’s. The majority of the buildings are for single-tenant or single-use with no cross-access for pedestrian or vehicular circulation purposes or for sharing of parking resources. Additionally, there are no large parcels ready for redevelopment thereby requiring land assemblage and willing sellers. City Hall is located along Boynton Beach Boulevard but is envisioned to be relocated into the Cultural District as part of the Town Square project. City Hall and the other civic uses occupy 3.71 acres and offer an opportunity for a public-private partnership to facilitate a catalyst for redevelopment within the District. Figure 11: Examples of Districts Planning Challenges 1702 58D.District Plans1703 59 Figure 12: Historic Property on First Avenue Planning Considerations Several factors were considered in determining the land use designations for the Boynton Beach Boulevard District. Just east along the District is the location of the future site of the Tri-Rail Coastal Link commuter service on the FEC Rail line, which will serve the South Florida metropolitan region. 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 planned station. The DTOD district regulations support increased intensity of development through a 25% density bonus. The Boynton Beach Boulevard District and DTOD district overlap; only the area from I-95 to (approximately) N.W. 2nd Street is not included within the DTOD District. A second consideration is that the Boynton Beach Boulevard District is entirely enclosed within 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 thus allowing denser development. The Plan recommends that the higher density and height occur within this District where both the TCEA and the TOD overlap. NW 1st Avenue Historic District: The potential NW 1st Avenue historic district contains thirteen properties, seven of which would be considered “contributing properties”. The designation process was applied but failed to produce a positive result (although the outcome of the vote was very close). It is recommended that the designation of a historic district be again explored in the future if there isn’t any assemblage of the properties on the north side of NW 1st Avenue for commercial development. In the meantime, the owners of the “contributing” sites will be contacted to determine their interest in applying for individual designation of their properties. 1704 60D.District PlansVision The Boynton Beach Boulevard District is envisioned to serve as a welcoming and beautiful entry into the Downtown District. Pedestrians will be encouraged to walk along the broad sidewalks in the shade of mature trees to visit the various stores and restaurants along the corridor. Bicyclists will safely travel along the corridor and will be able to park their bikes at one of the local shops where they’ll meet a friend for a cup of coffee. Visitors will be able to find their way to the marina, the Children’s Schoolhouse Museum and the Public Library using the various way finding signs along the corridor. Investors will see the value of developing in downtown Boynton Beach based on the public improvements and will begin to assemble land for development of mixed-use projects. Recommendations: Streetscape Streetscape enhancements are recommended for the Boynton Beach Boulevard District. The space for these enhancements may be obtained through either right-of-way dedications or public easements and should include: • Implement a Complete Streets program for Boynton Beach Boulevard including the addition of: • On-street parking • Bike lanes • Enhanced median with mature tree canopy (at time of planting) and landscape lighting • Marking of major intersections with materials such as pavers, paint, etc. • Narrowing of travel lanes to create space for landscaping and wider sidewalks and to make the street safer for bicyclists and pedestrians. • Create a Pedestrian Zone adjacent to the right- of-ways that is inviting, safe and includes: • Addition of canopy street trees • Minimum 8’ wide clear sidewalk Figure 13: Boynton Beach Blvd. District Streetscape Recommendations Area • Minimum 8’ wide active use area abutting the building • Decorative light poles at both the vehicular and pedestrian scales • Enhanced street furniture, bus shelters, bike racks and receptacles • Active uses along the first floor of development • Create a greenway along the north side of NW 1st Avenue per the Connectivity Plan • Create way finding signage to mark the entry into the City and brand the district • Install public art in key locations • Provide additional pedestrian crossings where needed • Underground overhead utilities 1705 61 Entrance enhancements •Signage / Gateway Intersection enhancements •Directional signage •Pavement / material •Landscaping •Public art location •Safe pedestrian crossing Intersection enhancements •Entry to Downtown •Directional signage •Pavement / material •Landscaping •Public art location •Safe pedestrian crossing 50Figure 14: Intersection enhancements on Boynton Beach Blvd. Figure 15: Example of streetscape enhancements on Boynton Beach Blvd. 1706 62D.District PlansFigure 16: Boynton Beach Blvd. Plan from I-95 to Seacrest Blvd. Figure 17: Boynton Beach Blvd. Section from I-95 to Seacrest Blvd. Boynton Beach Boulevard Design: West of Seacrest Boulevard 1707 63 Figure 18: Boynton Beach Blvd. Plan from Seacrest Blvd. to Federal Hwy. Figure 19: Boynton Beach Blvd. Section from Seacrest Blvd. to Federal Hwy. Boynton Beach Boulevard Design: East of Seacrest Boulevard 1708 64D.District PlansRecommendations: Land Use The predominant existing future land use designation along the Boynton Beach Boulevard corridor is Local Retail Commercial. Other future land use designations are Public and Private and Governmental/ Institutional (where City Hall is located) and Office Commercial. The Local Retail Commercial designation only extends one-half block to the north and south of Boynton Beach Boulevard. The lack of depth has prevented successful projects from being developed along the corridor. In order to encourage a vibrant corridor with the desired private development and public spaces, it is recommended that the following future land use changes be made: • From I-95 east to N.W. 1st Street, change Local Retail Commercial and Low Density Residential to Mixed-Use Low. The Mixed-Use Low land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. • From N.W. 1st Street east to N.E. 3rd Street, change Local Retail Commercial, Public and Private Governmental/Institutional, Medium Density Residential, General Commercial to Mixed-Use Medium Future Land Use. The Mixed-Use Medium land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. • From N. E. 3rd Street east to the FEC Railroad, change General Commercial, Industrial, Local Retail Commercial to Mixed-Use High future land use designation. The Mixed-Use High future land use designation should extend the depth of the block north and south of Boynton Beach Boulevard. Below is a table showing the proposed land use and zoning designations that will apply along the Boynton Beach Boulevard corridor: Table 3: Recommended Future Land Use (FLU) Classifications within the Boynton Beach Blvd District *Properties located within the TOD may recieve a 25% density bonus * 1709 65 MU Low MU Med MU High MU Low •20 du/ac •Max height 45’ MU-Med •40 du/ac •Max height: 75’ •TOD Bonuses MU-High •80 du/ac •Max height 150’ •TOD Density Bonus LDR 55 Boynton Beach Blvd.Seacrest Blvd.Figure 20: Recommended Future Land Use for the Boynton Beach Blvd. District Boynton Beach Blvd.Seacrest Blvd.Figure 21: Boynton Beach Blvd. Example Projects 1710 66D.District Plans1711 67 Recommendations: Urban Design Create an overlay district for Boynton Beach Boulevard to control height at street frontage, building setback, design, uses, and overal character. • The building shall be setback to accommodate the pedestrian zone. • Active commercial uses shall be required on the street frontage of Boynton Beach Boulevard. Automobile oriented uses, such as, gas stations and car washes, are prohibited. Drive-thrus are only permitted when not visible from right-of-ways and completely behind a structure. • Buildings fronting Boynton Beach Boulevard shall have maximized glazing on first floors. • Approximately 75% of the lot frontage must be occupied by structure and adjacent to the pedestrian zone. • Buildings fronting Boynton Beach Boulevard shall have a minimum height of 30’ • Buildings fronting Boynton Beach Boulevard shall be a maximum of 45’ in height, any additional height permitted by the zoning districts must be stepped back proportionately to the overall height, a minimum of 10’ deep. • Parking shall be located to the rear or side of the property. MU-L Land Uses are permitted to have one (single loaded) row of parking in front of the structure. • Only when access is not possible from the rear or side shall curb cuts be permitted on Boynton Beach Blvd. • All buildings along Boynton Beach Blvd shall have pedestrian access from the right-of-way/ sidewalks. • The main pedestrian entry, or front door, must be fronting Boynton Beach Blvd. • Mixed use projects adjacent to single-family areas shall include greenways for proper buffering Staff will review architectural styles and make recommendations regarding Architectural Guidelines that may enhance the character of the District. This process will include public input. Figure 22: Example Greenway Recommended on First Avenue 1712 68D.District PlansFigure 25: Boynton Beach Blvd. District Master Plan Figure 23: Example of Mixed Use Low Project on Boynton Beach Blvd. A A Boynton Beach Blvd. 1713 69 Figure 24: Example of Mixed Use Medium Project on Boynton Beach Blvd. B B Seacrest Blvd.1714 70D.District Plans1715 APPRAISAL OF A LAND ASSEMBLAGE OF 13 PARCELS TOTALING APPROXIMATELY 3.30 ACRES OR 143,684 SQUARE FEET LOCATED AT WEST BOYNTON BEACH BOULEVARD BOYNTON BEACH, FLORIDA 33435 FOR THERESA UTTERBACK, DEVELOPMENT SERVICES SPECIALIST BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BY ROBERT B. BANTING, MAI, SRA CERT GEN RZ4 AND WILLIAM H. SPENGLER CERT RES RD8462 WITH ANDERSON & CARR, INC. 2801 EXCHANGE COURT WEST PALM BEACH, FLORIDA 33409 DATE OF INSPECTION: APRIL 13, 2025 DATE OF REPORT: APRIL 18, 2025 CURRENT DATE OF VALUE: APRIL 13, 2025 A&C JOB NO.: 2250168.000 CLIENT REFERENCE: WEST BOYNTON BEACH BOULEVARD LAND ASSEMBLAGE 1716 2801 EXCHANGE CT, W. PALM BEACH, FL 33409 ANDERSONCARR.COM 561.833.1661 ANDERSON & CARR INC. April 18, 2025 Theresa Utterback Development Services Specialist Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, FL 33435 Dear Ms. Utterback: Pursuant to your request, we have personally appraised the real property being a land assemblage of 13 parcels totaling approximately 3.30 acres, or 143,684 square feet. The subject property is located on the east end of the block, west of NW 3rd Street, between West Boynton Beach Boulevard and NW 1st Avenue. The property address is West Boynton Beach Boulevard, Boynton Beach, FL, 33435. The purpose of this appraisal is to estimate the market value of the fee simple estate of the subject property as of April 13, 2025. The intended use of the report is to assist the client and intended user in establishing a purchase or selling price. The intended user of this appraisal report is Boynton Beach Community CRA. This report has been prepared for no other purpose and for use by no other person or entity than for use by the client for the purpose stated herein. Any other use of this appraisal is considered a misuse and thus the appraisers will not be held responsible for any outcome associated with use by another entity or for another purpose. We have utilized the sales comparison approach to value, the most common method used for valuing properties such as the subject property. 1717 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 Theresa Utterback Page 2 April 18, 2025 As a result of our analysis, we have developed an opinion that the market value of the fee simple estate (as defined in the report), subject to the definitions, certifications, and limiting conditions set forth in the attached report, as of April 13, 2025 was: CURRENT MARKET VALUE (AS-IS): $7,700,000 This letter must remain attached to the report, which contains 74 pages plus related exhibits, in order for the value opinion set forth to be considered valid. Your attention is directed to the General Limiting Conditions contained within this report. Respectfully submitted, ANDERSON & CARR, INC. Robert B. Banting, MAI, SRA Cert Gen RZ4 William H. Spengler Cert Res RD8462 RBB/WHS:cmp 1718 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 TABLE OF CONTENTS Page No. Summary of Important Facts and Conclusions ......................................................................................................1 Certification ..............................................................................................................................................................3 General Limiting Conditions ...................................................................................................................................4 Extraordinary Assumptions .....................................................................................................................................6 Hypothetical Conditions ..........................................................................................................................................6 Area/Location Maps .................................................................................................................................................7 Survey/Plat .................................................................................................................................................................8 Aerial Photographs .................................................................................................................................................10 Subject Property Photos (Taken April 13, 2025) .................................................................................................11 Purpose and Date of Value ...................................................................................................................................15 Property Appraised ................................................................................................................................................15 Legal Description ...................................................................................................................................................16 Disclosure of Competency .....................................................................................................................................20 Intended Use and User ..........................................................................................................................................21 Client........................................................................................................................................................................21 Definitions ...............................................................................................................................................................21 Property Rights Appraised ....................................................................................................................................22 Typical Buyer Profile ..............................................................................................................................................22 Scope of Assignment ..............................................................................................................................................22 Palm Beach Metropolitan Statistical Area Analysis ............................................................................................24 Neighborhood Summary ........................................................................................................................................37 Property Data ..........................................................................................................................................................39 Taxpayers of Record ...........................................................................................................................................39 Palm Beach County Property Control Number(s) ..........................................................................................39 Assessed Value and Taxes for 2025 ..................................................................................................................39 Census Tract ........................................................................................................................................................41 Flood Zone Designation ....................................................................................................................................42 Zoning and Future Land Use ...........................................................................................................................42 Concurrency ........................................................................................................................................................44 Utilities ................................................................................................................................................................44 Subject Property Sales History ..........................................................................................................................45 Site Analysis ........................................................................................................................................................46 Highest and Best Use .............................................................................................................................................47 Exposure And Marketing Time .............................................................................................................................48 Sales Comparison Approach .................................................................................................................................49 Sales Summary and Discussion ..........................................................................................................................71 Conclusion ...........................................................................................................................................................74 Qualifications for Robert B. Banting, MAI, SRA, Cert Gen RZ4 Qualifications for William H. Spengler, Cert Res RD8462 Addendum: 1719 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 1 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS Client: Theresa Utterback, Development Services Specialist Boynton Beach Community Redevelopment Agency Intended User Boynton Beach Community CRA Intended Use: Establishing a purchase or selling price Taxpayer of Record: Various KMG Holdings, LLC 3139 Lake Shore Drive, LLC YLS Holdings, LLC Property Rights Appraised: Fee simple estate Extraordinary Assumptions: None Hypothetical Conditions: None Unusual Market Externality: None Location: The site is located on the east end of the block west of NW 3rd Street, between West Boynton Beach Boulevard and NW 1st Avenue. Site/Land Area: The subject site contains 143,684 square feet or 3.30 acres. Zoning: C-2/Neighborhood Commercial, R1A/Single Family 6DU/ac by Boynton Beach Land Use Plan: OC, LRC, LDR / Office Commercial, Local Retail Commercial, Low Density Residential by Boynton Beach Flood Zone & Map Reference: Zone X (unshaded), Community Panel Number 12099C0789G, effective date of December 20, 2024 Census Tract: 0062.01 Current Use: Vacant Land, commercial & residential improved properties 1720 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 2 Highest and Best Use: Redevelopment Exposure Time: 10 - 15 months Marketing Time: 10 - 15 months Estimated Property Values: Value via Cost Approach: N/A Value via Income Capitalization Approach: N/A Value via Sales Comparison Approach: $7,700,000 CURRENT MARKET VALUE (AS-IS): $7,700,000 Date of Inspection: April 13, 2025 Date of Report: April 18, 2025 Date of Value: April 13, 2025 Appraisers: Robert B. Banting, MAI, SRA Cert Gen RZ4 William H. Spengler Cert Res RD8462 1721 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 3 CERTIFICATION I certify that, to the best of my knowledge and belief: The statements of fact contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported general limiting conditions, and are my personal, impartial, and unbiased professional analyses, opinions, conclusions, and recommendations. 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. I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest with respect to the parties involved. I have no bias with respect to any 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. This appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. 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. 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 & Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. William H. Spengler and Robert B. Banting, MAI, SRA have made a personal inspection of the property that is the subject of this report. As of the date of this report, Robert B. Banting, MAI, SRA has completed the continuing education program of the Appraisal Institute. No one provided significant real property appraisal or appraisal consulting assistance to the person signing this certification. Robert B. Banting, MAI, SRA William H. Spengler Cert Gen RZ4 Cert Res RD8462 rbanting@andersoncarr.com bspengler@andersoncarr.com 561-833-1661 561-833-1661 1722 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 4 GENERAL LIMITING CONDITIONS 1. Unless otherwise stated, the value appearing in this appraisal represents our opinion of the market value or the value defined as of the date specified. Values of real estate are affected by national and local economic conditions and consequently will vary with future changes in such conditions. 2. Possession of this report or any copy thereof does not carry with it the right of publication nor may it be used for other than its intended use. The physical report(s) remains the property of the appraiser for the use of the client. The fee being charged is for the analytical services only. The report may not be copied or used for any purpose by any person or corporation other than the client or the party to whom it is addressed, without the written consent of an officer of the appraisal firm of Anderson & Carr, Inc. and then only in its entirety. 3. Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations efforts, news, sales or other media without written consent and approval of an officer of Anderson & Carr, Inc. nor may any reference be made in such public communication to the Appraisal Institute or the MAI, SRA or SRPA designations. 4. The appraiser may not divulge the material contents of the report, analytical findings or conclusions, or give a copy of the report to anyone other than the client or his designee, as specified in writing except as may be required by the Appraisal Institute, as they may request in confidence for ethics enforcement or by a court of law or body with the power of subpoena. 5. Liability of Anderson & Carr, Inc. and its employees is limited to the fee collected for the appraisal. There is no accountability or liability to any third party. 6. It is assumed that there are no hidden or unapparent conditions of the property, sub-soil, or structures which make it more or less valuable. The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these facts. 7. This appraisal is to be used only in its entirety. All conclusions and opinions concerning the analysis which are set forth in the report were prepared by the appraisers whose signatures appear on the appraisal report. No change of any item in the report shall be made by anyone other than the appraiser and the appraiser and firm shall have no responsibility if any such unauthorized change is made. 8. No responsibility is assumed for the legal description provided or other matters legal in character or nature, or matters of survey, nor of any architectural, structural, mechanical, or engineering in nature. No opinion is rendered as to the title which is presumed to be good and merchantable. The property is valued as if free and clear of any and all liens and encumbrances and under responsible ownership and competent property management unless otherwise stated in particular parts of the report. 9. No responsibility is assumed for accuracy of information furnished by or from others, the clients, their designee, or public records. We are not liable for such information or the work of subcontractors. The comparable data relied upon in this report has been confirmed with one or more parties familiar with the transaction or from affidavit when possible. All are considered appropriate for inclusion to the best of our knowledge and belief. 1723 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 5 10. The contract for appraisal, consultation or analytical service is fulfilled and the total fee payable upon completion of the report. The appraiser or those assisting the preparation of the report will not be asked or required to give testimony in court or hearing because of having made the appraisal in full or in part; nor engaged in post-appraisal consultation with client or third parties, except under separate and special arrangement and at an additional fee. 11. The sketches and maps in this report are included to assist the reader and are not necessarily to scale. Various photos, if any, are included for the same purpose and are not intended to represent the property in other than actual status as of the date of the photos. 12. Unless otherwise stated in this report, the appraisers have no reason to believe that there may be hazardous materials stored and used at the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired. 13. If applicable, the distribution of the total valuation of this report between land and improvements applies only under the existing program of utilization. The separate valuations for land and building must not be used in conjunction with any other appraisal, no matter how similar and are invalid if so used. 14. No environmental or impact studies, special market studies or analysis, highest and best use analysis study or feasibility study has been requested or made unless otherwise specified in an agreement for services or in the report. Anderson & Carr, Inc. reserves the unlimited right to alter, amend, revise or rescind any of the statements, findings, opinions, values, estimates or conclusions upon any previous or subsequent study or analysis becoming known to the appraiser. 15. It is assumed that the property is in full compliance with all applicable federal, state, and local environmental regulations and laws unless the lack of compliance is stated, described, and considered in this appraisal report. 16. The value estimated in this appraisal report is gross without consideration given to any encumbrance, lien, restriction, or question of title, unless specifically defined. The estimate of value in the appraisal report is not based in whole or in part upon the race, color, or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 17. It is assumed that the property conforms to all applicable zoning, use regulations, and restrictions unless a nonconformity has been identified, described, and considered in this appraisal report. 18. It is assumed that all required licenses, certificates of occupancy, consents, and other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can be obtained or renewed for any use on which the opinion of value contained in this report is based. 1724 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 6 19. It is assumed that the use of the land and improvements is confined within the boundaries or property lines of the property described and that there is no encroachment or trespass unless noted in the report. 20. This appraisal report has been prepared for the exclusive benefit of the client and intended users, Boynton Beach Community CRA. This report has been prepared for no other purpose and for use by no other person or entity than for use by the client for the purpose stated herein. Any other use of this appraisal is considered a misuse and thus the appraisers will not be held responsible for any outcome associated with use by another entity or for another purpose. ACCEPTANCE OF, AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. EXTRAORDINARY ASSUMPTIONS No Extraordinary Assumptions were utilized in the preparation of this appraisal. HYPOTHETICAL CONDITIONS No Hypothetical Conditions were utilized in the preparation of this appraisal. 1725 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 7 AREA/LOCATION MAPS 1726 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 8 SURVEY/PLAT Survey of the West Portion of the Assemblage 1727 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 9 Plat Map of the Middle and East Portions of the Assemblage Plat Map of East Portion Assemblage parcels fronting NW 3rd Street 1728 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 10 AERIAL PHOTOGRAPHS 1729 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 11 SUBJECT PROPERTY PHOTOS (TAKEN APRIL 13, 2025) Subject, Southeast corner Subject, Southwest Corner 1730 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 12 Subject, Northeast corner Subject, Northwest Corner 1731 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 13 West Boynton Beach Boulevard, looking West, Subject at left Northwest 3rd Street, looking South, Subject at right 1732 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 14 Northwest 1st Avenue, looking west, Subject at right 1733 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 15 PURPOSE AND DATE OF VALUE The purpose of this appraisal is to estimate the market value, fee simple estate, of the subject property as of April 13, 2025. PROPERTY APPRAISED The subject is a land assemblage of 13 parcels totaling approximately 3.30 acres, or 143,684 square feet. The subject property is located on the east end of the block, west of NW 3rd Street, between West Boynton Beach Boulevard and NW 1st Avenue. The property address is West Boynton Beach Boulevard Land Assemblage 13 Parcels, Boynton Beach, Florida 33435. Postal addresses, Property Control Numbers, site sizes and owners of the individual parcels are shown on the following table. A 10 foot by 150 foot right of way (owned by the City of Boynton Beach) to the east of 411 Northwest 1st Avenue, and to the west of 203 and 203 Northwest 3rd Street is not included in the analysis. Street Address PCN Acres SF Owner 416 W. Boynton Beach Blvd.08-43-45-28-11-000-0010 0.34 14,810 YLS Holdings, LLC 432 W. Boynton Beach Blvd.08-43-45-28-11-000-0050 0.34 14,810 KMG Holdings, LLC 444 W. Boynton Beach Blvd.08-43-45-28-27-000-0051 0.51 22,152 KMG Holdings, LLC 450 W. Boynton Beach Blvd.08-43-45-28-27-000-0052 0.22 9,583 KMG Holdings, LLC 411 NW 1st Avenue 08-43-45-28-11-000-0121 0.15 6,534 3139 Lake Shore Drive, LLC 421 NW 1st Avenue 08-43-45-28-11-000-0100 0.16 6,970 KMG Holdings, LLC 431 NW 1st Avenue 08-43-45-28-11-000-0081 0.18 7,841 KMG Holdings, LLC 433 NW 1st Avenue 08-43-45-28-11-000-0072 0.18 7,841 KMG Holdings, LLC 435 NW 1st Avenue 08-43-45-28-11-000-0071 0.18 7,841 KMG Holdings, LLC 449 NW 1st Avenue 08-43-45-28-27-000-0054 0.28 12,197 KMG Holdings, LLC 203 NW 3rd Street 08-43-45-28-10-001-0071 0.34 14,810 3139 Lake Shore Drive, LLC 215 NW 3rd Street 08-43-45-28-10-001-0031 0.29 12,632 3139 Lake Shore Drive, LLC 221 NW 3rd Street 08-43-45-28-10-001-0010 0.13 5,663 KMG Holdings, LLC 1734 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 16 LEGAL DESCRIPTION The legal descriptions for the subject’s 13 parcels are taken from the deeds of the most recent transactions recorded in the Palm Beach County Official Records: 449 Northwest 1st Avenue 1735 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 17 444 West Boynton Beach Boulevard 1736 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 18 431, 433, 435 Northwest 1st Avenue 1737 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 19 432 West. Boynton Beach Boulevard 421 Northwest 1st Avenue 411 Northwest 1st Avenue 416 West Boynton Beach Boulevard 221 Northwest 3rd Street 1738 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 20 215 NW 3rd Street 203 Northwest 3rd Street DISCLOSURE OF COMPETENCY Per the Competency Rule contained within the Uniform Standards of Professional Appraisal Practice, the appraisers hereby affirm that they are competent to complete the appraisal assignment for which they have been engaged by the client. 1739 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 21 INTENDED USE AND USER The intended use of this report is to assist the client and intended user in establishing a purchase or selling price. The intended user of the report is Boynton Beach CRA. This report has been prepared utilizing generally accepted appraisal guidelines, techniques, and methodologies as contained within the Uniform Standard of Professional Practice (USPAP), as promulgated by the Appraisal Foundation. CLIENT Ms. Theresa Utterback Development Services Specialist Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue, 4th Floor Boynton Beach, FL 33435 DEFINITIONS Market Value 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, knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (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 normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. (Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) and the Interagency Appraisal and Evaluation Guidelines, Federal Register, Volume 75, No. 237, December 10, 2010). 1740 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 22 PROPERTY RIGHTS APPRAISED The property rights appraised are those of the fee simple estate. Fee simple estate is defined as absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat (The Dictionary of Real Estate Appraisal, 7th ed., Chicago: Appraisal Institute, 2022). TYPICAL BUYER PROFILE We found that buyers of similar properties in this market are primarily investors who are purchasing property in this urban infill area for assemblage for potential redevelopment. The sales comparison approach reflects the actions of typical buyers. SCOPE OF ASSIGNMENT The traditional appraisal approaches include the cost approach, the sales comparison approach, and the income capitalization approach. We have considered all three approaches in this assignment, and determined the sales comparison approach to be applicable in this assignment. The cost and income capitalization approaches are not applicable in the valuation of land. In the process of gathering data for the sales comparison approach to value, we conducted a search of our appraisal files and public information sources such as the Palm Beach County Property Appraiser’s public access system and the Palm Beach County Clerk’s Office, as well as subscription-based information services such as CoStar.com for comparable sales in the relevant market area. We searched for the most similar sales to the subject property. The sales ultimately selected for further analysis were the best comparable sales we were able to find in this market. We obtained and verified additional information on the comparable properties with a party to the transaction, or a broker or agent of the parties when possible. We inspected the exterior of the subject property and the comparables. Physical data pertaining to the subject property was obtained from an inspection of the premises and public information sources such as the Palm Beach County Property Appraiser’s records. Other data pertaining to the subject property was obtained from the Palm Beach County Clerk’s and Tax Collector’s offices and local planning and zoning departments. The product of our research and analysis is formulated within this report for analysis of and direct comparison with the subject property being appraised. Additionally, we have used original research performed in preparation of other appraisals by this office, which is considered appropriate for the subject property. We make no warranty as to the authenticity and reliability of representations made by those with whom we verified sales, rental, and other information. We have taken due care in attempting to verify the data utilized in this analysis. We based our analysis and conclusions on overall patterns rather than on specific representations. 1741 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 23 Per USPAP Standard Rule 2-2 this analysis is an Appraisal Report presented in written format. The analysis and conclusions of this appraisal assignment are presented in a narrative appraisal report. 1742 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 24 PALM BEACH METROPOLITAN STATISTICAL AREA ANALYSIS Geography Palm Beach County is located along Florida’s Southeast coast. It is bordered by Martin County to the north, Hendry and Glades Counties to the west, Broward County to the south and the Atlantic Ocean to the east. The northwestern portion of the county is made up of Lake Okeechobee, the largest freshwater lake in Florida. The County is located approximately 80 miles north of Miami and 260 miles south of Jacksonville. Palm Beach County encompasses approximately 2,203 square miles with roughly 1,974 square miles of land area, 229 square miles of water, and 47 miles of coastline. According to the U.S. Census Bureau’s 2015 estimate, Palm Beach County has a population of 1,422,789; an increase of 7.8 percent from the 2010 census statistics of 1,320,134. The vast majority of the county’s growth has been a result of in-migration from the northern states as well as from Miami-Dade and Broward Counties to the south. Palm Beach County ranks as the third most populous county in Florida behind Miami-Dade and Broward Counties. The County includes 38 incorporated municipalities; the largest of which is West Palm Beach, the county seat. Boca Raton, located at the south end of the County, is the second largest city and one of the highest income retail trade areas in the United States. Miami-Dade, Broward and Palm Beach Counties are known as the “Gold Coast”. This area is approximately 110 miles from north to south, but only 20 miles wide at its widest points. This is the second longest urbanized area in the United States, just behind the New York Metropolitan area. 1743 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 25 Transportation Vehicular Travel Interstate 95 is a major north/south thoroughfare that connects Palm Beach County to the southeastern and northeastern portions of the state, and then continues along the Eastern Seaboard to Maine. Florida’s Turnpike also passes through the county and provides connections to Miami-Dade and Broward Counties to the south and Orlando to the north, connecting with I-75 around Leesburg, FL. Other north/south highways include A1A, U.S. Highway 1, Congress Avenue, Military Trail and U.S. 441. A1A connects the coastal communities along the eastern edge of the county while U.S. 441 connects the more western communities such as Wellington and Jupiter Farms. There are numerous local east/west roadways with Southern Boulevard and Blue Heron Boulevard providing access to the most western portions of the county including Belle Glade, as well as Florida’s West Coast. Airport Palm Beach International Airport (PBI) is centrally located 2.5 miles from downtown West Palm Beach and adjacent to I-95 providing air service for communities throughout Palm Beach County. PBI opened in 1988 and has expanded over the past 30 years. There are currently fourteen major airlines operating with numerous domestic flights and international flights to the Bahamas and Canada. The airport’s growth necessitated a direct access overpass interchange with I-95 which significantly improved ingress and egress for the airport. Palm Beach County is also home to four commercial executive airports. Rail Service and Transit There are two main rail corridors in Palm Beach County, the Florida East Coast railway and CSX railway, partially owned by the Florida Department of Transportation to run the Tri-Rail commuter trains. AmTrak is a passenger train than runs throughout the county connecting passengers to other parts of the country. Brightline, the express intercity high-speed rail system runs service between Miami and West Palm Beach with stops in Ft. Lauderdale and Aventura. It began service in May 2018, with an extension from West Palm Beach to Orlando via Melbourne currently under construction. Palm Tran is Palm Beach County’s public transportation provider for fixed route passenger bus service. It also operates Palm Tran CONNECTION and provides paratransit services for qualified users. Local municipalities and Tri-rail provide various trolley and shuttle services throughout Palm Beach County. Port of Palm Beach and Intracoastal Waterway The Port of Palm Beach is located in Riviera Beach, FL and is an independent taxing authority district with a five-member Board of Commissioners. It has an annual cargo tonnage of 5.1 and passenger traffic of 550,000. It is the fourth busiest container port of Florida’s 14 deepwater ports and 18 th in the United States. Unlike most ports in the US, the Port of Palm Beach is an export port, with approximately 80% of its cargo being exported. The majority of the cargo goes to support the island nations of the Caribbean, supplying 60% of everything consumed in The Bahamas. The Intracoastal Waterway represents one of Palm Beach County’s most identifiable marine destinations. Roughly 43 miles of waterway serves as a regional connector between 23 of the County’s municipalities. 1744 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 26 Economy At 2,000 square miles, Palm Beach County is the largest in area for the State of Florida. The county had experienced favorable demographic and economic conditions over the past five years until March 2020 with the onset of COVID-19. Although job and demographic growth had outpaced the U.S. across the board for the past several years, this area was dramatically impacted by the coronavirus pandemic which caused economic conditions to change rapidly across the world. In mid-2021 through 2023, the economy recovered and prices were escalating at a swift pace in the Palm Beach Metro Area with signs of a stabilized prices occurring in early 2024. The County’s current population of 1.5 million has grown by close to 15% over the past decade, more than double the rate of the remainder of the country. In early 2020, the county’s labor market had grown by 15% over the past five years. The unemployment rate according to the U.S. Bureau of Labor Statistics for December 2024 was 3.5% with an annual change of 0.6%. Palm Beach County has benefited from Florida’s lack of a state income tax and post-pandemic has seen an even greater influx of wealthy individuals bring significant parts of their wealth and business to the area. The tax dynamic, combined with a very strong business services infrastructure and a large talent pool, has created more jobs. Palm Beach County’s 650,000 strong labor force is service driven, with over 80% of the labor force employed in private service provision. Trade and transportation are the largest sectors with close to 20% of the county’s jobs. Palm Beach County’s agricultural output ranks the highest in the state nearly doubling that of Miami-Dade. It consists of over 1,400 farms with over $1 billion in sales of crops and a $10 billion economic impact. The largest employer in Palm Beach County is the Palm Beach County School Board, the tenth largest school district in the United States, with close to 23,000 employees, 197,000 students and a $4.1 billion dollar budget for the 2023-2024 school year. Palm Beach County employment by industry is shown in the following table. 1745 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 27 Job opportunities have returned to Palm Beach County and a growing number of people are moving to the area from other states. The nation’s economy is currently experiencing inflation along with rising interest rates; however, the local economy remains strong due to high demand. The diversity of Palm Beach County’s workforce with no one industry accounting for more than 20% of the jobs has helped to insulate the market from higher losses. 1746 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 28 Commercial Real Estate Industrial Palm Beach’s trailing 12-month industrial net absorption has slowed to 540,000 SF, down from elevated levels of 2.2 million SF during early 2022. Small tenant move-outs, 70% occupying spaces of less than 20,000 SF, drove the slowdown since the second half of 2023, resulting in rising vacancies from a low of 2.5% in 2022 to 6.2% as of the fourth quarter 2024. Despite a slower economic environment weighing on lease volume, there remains a limited availability of existing space with vacancies remaining below the U.S. average of 7.0%. The Palm Beach industrial market remains a critical logistics hub as it provides access to the large population pool in South Florida, the ninth-largest U.S. metropolitan statistical area in terms of population. Despite ranking fourth after Jaxport, Port Miami and Port Everglades in containerized cargo flows, the Port of Palm Beach provides significant infrastructure for business in the area. The continued rise of buying power in Palm Beach coupled with a lack of available space in Ft. Lauderdale and Miami should continue to help drive businesses northward into the market. Despite recent gains, slowing demand and rising vacancies since 2023 have resulted in a moderation in rent gains from peak levels of around 12% year-over-year recorded in 2022. Further deceleration is likely as higher interest rates weigh on economic growth. That said, Palm Beach’s industrial rent growth remains one of the strongest in the nation, with vacancies set to remain below the U.S. average, below 6% over the forecast period. 1747 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 29 1748 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 30 Office The Palm Beach County Metro can be categorized as one of the nation’s larger metros. Office rents in Palm Beach were growing at a 3.6% annual rate during the fourth quarter 2024 and early 2025, though gains have moderated, falling below the three-year average annual rent growth of 6.7%. Although vacancies have expanded recently to 8.6%, these remain below the ten-year average of 9.3% as of the fourth quarter 2024 and early 2025. Available office space in Palm Beach has risen since the 3rd quarter 2022, with net absorption turning negative in 2023 and again in 2024. Despite the recent softening, longer-term trends in the market continue to indicate a preference for 4 and 5 star office space located in the market’s CBD, with more than 50% of the demand in Palm Beach concentrated in the 4 and 5 star assets since 2019, and over 60% of 4 and 5 star demand concentrated within the CBD over the same time period. However, less expensive locations like North Palm Beach have seen healthy tenant demand in the last few months. As local tenants look for lower leasing costs, West Palm Beach and Boca Raton, which have some of the highest asking rents in the market, have seen leasing activity moderate to around 85% and 80% of the 2015-2019 average levels, respectively. Transaction volume has moderated since 2023, with $481 million trading in the last twelve months, below the $1.0 billion traded on average in the last five years. Despite this near-term slowdown, the Palm Beach market remains attractive on a relative basis as vacancy rates, which remain well below the national average at 14% and positive rent gains, suggest the market may be somewhat insulated from future economic uncertainty when compared to its high-growth peer markets. Still a near-term pullback in institutional buyer activity will likely continue as rising vacancies, softer rent gains, and still-elevated interest rates impact value creation and investment decisions. 1749 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 31 1750 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 32 Retail Palm Beach retail leasing activity has slowed over the past 12 months, with over 1.5 million SF leased in 2024, down from recent peak levels of over 2.4 million SF leased as of the third quarter of 2021. This slowdown in leasing activity is mainly driven by a lack of available space, as total leased SF now makes up over 13% of available space, up from around 11% on average from 2015-2019. Still, net absorption has remained positive over most of the last three years, with the exception of the first quarter of 2024, which saw some minor move-outs. Over the past few years, the influx of high-net-worth individuals continues to further bolster Palm Beach resident spending. Elevated retail sales have helped drive strong rent gains for retail space in the area, with annual growth at 5.6%, though this has slowed from peak levels of 7.8% in the third quarter of 2023. Most space availability remains concentrated in general retail and neighborhood centers, which make up the largest share of retail inventory in the market. Still, available space remains at or near the lowest levels seen over the past decade across all segments. Going forward, space availability is unlikely to improve significantly as tenant move-outs remain below historical averages. Transaction volume has slowed, with $652 million in trades over the past 12 months, below the five-year annual average of $903 million. Despite strong fundamentals of tight vacancies and healthy rent gains, higher interest rates, which are driving cap rates higher, are resulting in a drop in pricing. 1751 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 33 1752 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 34 Multi-Family Palm Beach multi-family demand continues to grow at an above average pace, with apartment absorption over 4% annually in 2024, relative to 3 % growth for the U.S. Still, following national trends, demand has slowed from peak levels of over 8% annual growth seen in the third quarter 2021. Additionally, delivery of new apartment units has outpaced absorption since 2023, resulting in a rise in vacancy rate from a low of 3.7% in 2021 to 7.8% as of the end of the fourth quarter 2024. Over 1,200 units broke ground in 2024, and constructions starts remained elevated in 2023, with over 2,800 units breaking ground. While new supply additions peaked in 2024, totaling over 4,800 units, this follows an already elevated pipeline, leaving the market with a significant supply overhand in the near term. Higher financing costs are beginning to slow development activity, which will likely limit supply growth past 2026, allowing vacancies to come down from elevated levels over the long term. Going forward, higher costs, specifically for insurance, along with softer rent gains and elevated interest rates, will continue to impact activity and pricing. Still, institutional investors have made up a larger share of buyers over the last year relative to the prior five-year average, indicating an elevated interest in the market. 1753 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 35 Residential Real Estate 1754 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 36 Conclusion Palm Beach County continues to demonstrate strong economic resilience and growth, driven by in - migration, a diversified workforce, and its status as a key business and tourism hub. Despite challenges such as rising vacancies in the industrial and office sectors and a slowdown in retail leasing activity, the county’s overall real estate market remains robust. The multi-family sector, while experiencing short-term oversupply, continues to attract institutional investment, and long-term demand fundamentals remain favorable. The county's strategic location, well-developed transportation infrastructure, and lack of a state income tax have positioned it as an attractive destination for businesses and high-net-worth individuals. While rising interest rates and economic uncertainties may impact short-term investment activity, Palm Beach County’s broad employment base and strong demand for residential and commercial real estate suggest continued stability. Looking ahead, limited land availability and sustained population growth will likely drive further development, supporting long-term economic expansion and maintaining Palm Beach County’s position as a highly desirable market. 1755 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 37 NEIGHBORHOOD SUMMARY The subject property is located just west of downtown Boynton Beach along the Boynton Beach Boulevard Commercial corridor. The neighborhood's boundaries are I-95 to the west, Federal Highway to the east, Woolbright Road to the south, and Gateway Boulevard to the north. To the west of the Central Business District lies the Ocean District Community Redevelopment district. The redevelopment district boundaries are Northeast 3rd Avenue to the north, Southeast 2nd Avenue to the south, Seacrest Boulevard to the west and the FEC Railroad tracks to the east. The district is characterized by older commercial properties along the major thoroughfares with moderately priced single-family residences in the interior neighborhoods. The neighborhood has good access. The primary thoroughfares are Boynton Beach Boulevard, Federal Highway, and Ocean Avenue. Boynton Beach Boulevard provides access to the Congress Avenue commercial district, a busy retail area, as well as recently developed residential areas lying west of the city. Ocean Avenue provides access to State Road A1A and wealthy beach communities. Federal Highway traverses Palm Beach County's older coastal neighborhoods. Federal Highway also provides access to Atlantic Avenue in downtown Delray Beach, an older commercial district that has redeveloped with a thriving restaurant and nightlife area. 1756 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 38 The City of Boynton Beach has been advocating redevelopment in the downtown area and the CRA has been active in acquiring properties in the neighborhood for several years. Ocean Avenue underwent streetscape modification. East Ocean Avenue is seen as the “main street” of the downtown area as its volume of traffic is less than that of other main thoroughfares in the district. One of the goals for East Ocean Avenue is to make it a pedestrian friendly area of mixed-use properties along with the public use properties within the district. The Intracoastal waterfront and Ocean Avenue east of Federal Highway has been almost totally renovated. The South Federal Highway corridor from Boynton Beach Boulevard extending to the south is composed of mixed commercial and residential uses. Improvements along this stretch of South Federal Highway are primarily characterized by older neighborhood shopping centers, miscellaneous stores, motels and auto related facilities. The subject property falls within an area of the community redevelopment plan. The community redevelopment plan basically calls for enhancement of existing uses; civic in the west, commercial along Boynton Beach Boulevard, multi-family in the center and single family in the south. It appears that primarily commercial uses were intended between 3rd Street and the CSX Railroad. This area from about Southeast 1st Street to north of Boynton Beach Boulevard contains older properties including several houses, several vacant tracts, and a number of commercial uses. This area is now destined for mixed use with multi-family projects approved that include commercial space on Boynton Beach Boulevard, and Ocean Avenue. The 4.7-acre full city block located at the southwest corner of Federal Highway and Ocean Avenue was assembled during the last development cycle but recessionary influences delayed its development. However, it has now been developed as 500 Ocean and includes 341 residential rental units in a six-story building with 13,800 square feet of retail space on the first floor along Ocean Avenue with 6,600 square feet of office space on the second floor of the Ocean Avenue frontage. This has served as a foundation and catalyst for several more mixed-use projects that have been proposed and/or approved in the immediate vicinity. Another catalyst is the recent redevelopment of the City’s aging municipal facilities in the southwest quadrant of Boynton Boulevard and Seacrest Boulevards. Privately owned parcels in the vicinity had been assembled by a developer and replatted in conjunction with City owned property (the new plat was filed in 2018) as part of a mixed use private/public redevelopment project (Boynton Beach Town Square) in partnership with the City of Boynton Beach. The developer was to develop a portion of the larger project with municipal facilities for the city and the balance with private apartments and commercial space. The developer constructed only a portion of the project (municipal facilities) and was later sued by the city. The resulting settlement included a payment to the City ($4.5 million plus legal fees) and the agreement to sell this portion of the larger project to another developer who agreed to move forward with the private apartment and commercial portion of the project. The portion of the project included in this sale was reported to be approved for roughly 23,000 square feet of retail space, 898 residential units as well as associated parking structures, portions of which will be utilized for the City's municipal facilities. In general, the single and multi-family housing in the area is dated but in generally average condition. The commercial uses on Ocean Avenue and off of Boynton Beach Boulevard are also dated but have seen some recent renovation. Revitalization of the subject neighborhood is evident from the renovations along Boynton Beach Boulevard including noticeable renovations and new construction of the civic facilities, and the new 500 Ocean project and the many new proposed/approved projects in the downtown core area. 1757 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 39 PROPERTY DATA Taxpayers of Record KMG Holdings, LLC, 3139 Lake Shore Drive, LLC, YLS Holdings, LLC Palm Beach County Property Control Number(s) PCN 08-43-45-28-11-000-0010 08-43-45-28-11-000-0050 08-43-45-28-27-000-0051 08-43-45-28-27-000-0052 08-43-45-28-11-000-0121 08-43-45-28-11-000-0100 08-43-45-28-11-000-0081 08-43-45-28-11-000-0072 08-43-45-28-11-000-0071 08-43-45-28-27-000-0054 08-43-45-28-10-001-0071 08-43-45-28-10-001-0031 08-43-45-28-10-001-0010 Assessed Value and Taxes for 2025 The following information was taken from the Palm Beach County Property Appraiser's and Tax Collector's web sites. Land Improvements Extra Feature Value Total Market Value Assessed Value Exemption Amount Taxable Value Ad Valorem Tax Non Ad Valorem Tax Total Tax 08-43-45-28-11-000-0010 $468,000 $892,183 $0 $1,360,183 $1,360,183 $0 $1,360,183 $27,284 $3,024 $30,308 08-43-45-28-11-000-0050 $387,293 $402,106 $0 $789,399 $735,125 $0 $735,125 $15,089 $1,448 $16,537 08-43-45-28-27-000-0051 $392,732 $255,210 $0 $647,942 $429,793 $0 $429,793 $9,999 $1,617 $11,616 08-43-45-28-27-000-0052 $130,875 $0 $0 $130,875 $54,505 $0 $54,505 $1,576 $0 $1,576 08-43-45-28-11-000-0121 $118,800 $208,154 $0 $326,954 $326,954 $0 $326,954 $6,559 $339 $6,898 08-43-45-28-11-000-0100 $118,800 $152,880 $0 $271,680 $271,680 $0 $271,680 $5,450 $339 $5,789 08-43-45-28-11-000-0081 $123,420 $0 $0 $123,420 $73,292 $0 $73,292 $1,787 $0 $1,787 08-43-45-28-11-000-0072 $123,420 $0 $0 $123,420 $73,292 $0 $73,292 $1,787 $0 $1,787 08-43-45-28-11-000-0071 $123,420 $0 $0 $123,420 $73,292 $0 $73,292 $1,787 $0 $1,787 08-43-45-28-27-000-0054 $192,500 $0 $0 $192,500 $121,426 $0 $121,426 $2,885 $0 $2,885 08-43-45-28-10-001-0071 $133,100 $183,615 $0 $316,715 $316,715 $0 $316,715 $6,353 $339 $6,692 08-43-45-28-10-001-0031 $329,569 $169,763 $0 $499,332 $499,332 $0 $499,332 $10,016 $750 $10,766 08-43-45-28-10-001-0010 $177,629 $159,316 $0 $336,945 $306,251 $0 $306,251 $6,337 $756 $7,093 Totals $2,819,558 $2,423,227 $0 $5,242,785 $4,641,840 $0 $4,641,840 $96,909 $8,612 $105,521 2024 SUBJECT ASSESSMENTS & TAXES Parcel ID Appraised Value Assessed and Taxable Values Taxes 1758 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 40 A typical informed buyer would recognize the possibility of a reassessment following a sale of the property and the possibility that taxes could change as a result, if the assessed value is substantially different than the true market value. That said, the subject appears to be under assessed based on the market value conclusion contained herein. We believe a prudent investor would calculate their potential property tax liability based on an assessment reflective of whatever sale price they are proposing to pay. Our value conclusion does not discount for any taxes owed on the property, current or delinquent. The value assumes the property is free and clear and not subject to any prior year’s delinquencies or outstanding tax certificates. The appraisers strongly suggest any potential buyer, mortgagee, or other investor in the property fully investigate the tax status of the subject property with the County’s Tax Collectors office. 1759 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 41 Census Tract The subject property is located in census tract 0062.01. Census Tract Map 1760 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 42 Flood Zone Designation The subject property is located on the National Flood Insurance Program Map on Community Panel Number 12099C0789G, effective date of December 20, 2024. The subject appears to lie in an area designated as Zone X (unshaded). Flood Zone X (unshaded) is determined to be outside the 0.2% annual chance floodplain. Flood Map 1761 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 43 Zoning and Future Land Use The subject property’s use is dictated by the Boynton Beach Zoning Code and Comprehensive Plan. The Boynton Beach zoning and future land use maps indicate the subject property has a zoning designation of C-2/Neighborhood Commercial, R1A/Single Family 6DU/ac with an underlying land use designation of OC, LRC, LDR / Office Commercial, Local Retail Commercial, Low Density Residential. Permitted uses under this zoning category generally include, but are not limited to; commercial service and retail businesses, multi-family residential projects, and commercial/residential mixed-use projects. The subject’s current use as commercial uses along West Boynton Boulevard and residential uses along Northwest 1st Avenue is in line with the current zoning as a permitted use and the current zoning is in harmony with the future land use designation. The appraisers have not independently verified that the subject complies with current site development regulations (setbacks, site coverage, etc.). It has been assumed that by virtue of the subject’s on -going use, should there be any areas of non-compliance, a variance has been issued or some other form of special exception has been made. Zoning Map 1762 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 44 Concurrency The strongest growth control measure ever imposed was passed by the Florida Legislature and became effective on February 1, 1990. This was mandated by Chapter 163, Florida Statutes, otherwise known as the Growth Management Law. One provision of this law is referred to as Concurrency which dramatically limits the ability to develop real property. It is basically the requirement that adequate infrastructure be available to serve new development. Eight types of infrastructure are affected including traffic, potable water, sewer, drainage, solid waste, recreation and open space, mass transit, and fire rescue. In May of 2011, House Bill 7172 amended the Growth Management act in an effort to spur economic growth through streamlining and lessening growth management controls. Transportation concurrency requirements were exempted in dense urban land areas with populations of at least 1,000 people per square mile. Also, within dense urban land areas, the DRI process has been exempted. State review of local comprehensive plans was streamlined and zoning changes are now allowed to be considered concurrently with land use plan amendments. It is the appraisers’ understanding that the subject is not subject to any concurrency restrictions. Should the property be altered or redeveloped, the matter of concurrency would need to be revisited at that time. Utilities The following utilities are available to the subject property: municipal water and sewer, electricity, and telephone. 1763 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 45 Subject Property Sales History The appraisers have not been provided with a title abstract on the property appraised nor have they conducted a title search of their own. The Palm Beach County Property Appraiser’s records indicate that the various parcels last transferred on the following dates, at the indicated prices, as recorded in Palm Beach County OR Book and Page: Street Address PCN Sale Date Sale Price OR Book/Page 416 W. Boynton Beach Blvd.08-43-45-28-11-000-0010 8/6/2021 $1,975,000 32760/1200 432 W. Boynton Beach Blvd.08-43-45-28-11-000-0050 10/7/2020 $712,000 31820/1066 444 W. Boynton Beach Blvd.08-43-45-28-27-000-0051 6/27/2014 $350,000 26898/1957 450 W. Boynton Beach Blvd.08-43-45-28-27-000-0052 6/27/2014 26898/1957 411 NW 1st Avenue 08-43-45-28-11-000-0121 1/26/2022 $400,000 33264/0131 421 NW 1st Avenue 08-43-45-28-11-000-0100 8/31/2023 $500,000 34535/0269 431 NW 1st Avenue 08-43-45-28-11-000-0081 6/12/2015 $195,000 27608/0973 433 NW 1st Avenue 08-43-45-28-11-000-0072 6/12/2015 27608/0973 435 NW 1st Avenue 08-43-45-28-11-000-0071 6/12/2015 27608/0973 449 NW 1st Avenue 08-43-45-28-27-000-0054 3/18/2015 $95,000 27422/1370 203 NW 3rd Street 08-43-45-28-10-001-0071 7/21/2021 $420,000 32747/0711 215 NW 3rd Street 08-43-45-28-10-001-0031 11/12/2021 $620,000 33063/1112 221 NW 3rd Street 08-43-45-28-10-001-0010 11/6/2020 $340,000 31905/1160 The subject is currently listed for sale with Coldwell Banker Commercial with an asking price of $7,500,000. This equates to roughly $52.15 per square foot of land area. It is being marketed on Loopnet.com (Listing ID 35175552) as well as via a sign on the site. 1764 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 46 Site Analysis The following analysis is based upon a personal inspection of the site and Palm Beach County Public Records. Location The subject property is located on the east end of the block, west of NW 3rd Street, between West Boynton Beach Boulevard and NW 1st Avenue. The property address is West Boynton Beach Boulevard Land Assemblage 13 Parcels, Boynton Beach, Florida 33435. Size and Shape We have relied on the site size for the property from the Palm Beach County Property Appraiser's records. The site is an irregular shaped parcel of land having roughly 480 front feet on West Boynton Beach Boulevard, 615 front feet on Northwest 1st Avenue, and 260 front feet on Northwest 3rd Street. The subject site area is approximately 143,684 square feet or 3.30 acres. Topography and Drainage The site is level and near road grade. Drainage appears to be adequate for its current use. Access Access is via West Boynton Beach Boulevard, Northwest 1st Avenue, and Northwest 3rd Street. Easements or Encroachments Typical utility easements are believed to exist. A survey that would delineate the boundaries of any potentially detrimental easements or encroachments was not made available to the appraisers. The appraisers did not note any such conditions during our research and property inspection, nor did the property owner disclose any. We have no reason to believe that there are any easements or encroachments on the property that would affect its use in such a way as to have a negative impact on value. Soil/Environmental Conditions We have not been provided with nor have we commissioned a soil or sub -soil condition report. The subject’s land appears to be composed of typical loose South Florida sand. The appraisers have no reason to believe that there may be hazardous materials stored and used at the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired. 1765 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 47 HIGHEST AND BEST USE The Appraisal Institute defines highest and best use as follows: The reasonably probable use of property that results in the highest value. The four criteria that the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. (Source: The Dictionary of Real Estate Appraisal, 7th ed., Appraisal Institute, 2022) The analysis of highest and best use normally applies these considerations in a three step process, involving the analysis of the highest and best use of the site as if vacant, determination of the ideal improvement, and a comparison of the existing improvement with the ideal improvement, in order to estimate the highest and best use as improved. The subject is vacant land, therefore only the first two steps apply. The subject site contains roughly 3.3 acres and could physically support a number of uses. These physically possible uses must be legal, reasonable, probable, and a logical continuation of surrounding uses within the subject property's neighborhood. The subject is currently zoned C-2/Neighborhood Commercial, R1A/Single Family 6DU/ac for OC, LRC, LDR / Office Commercial, Local Retail Commercial, Low Density Residential use. The surrounding area has been developed mainly with commercial and residential uses in the past. In consideration of the site's location, land use classification, zoning and surrounding uses, the highest and best use for the subject, as if vacant, would be development with some type of commercial or mixed use commercial-residential project in keeping with the zoning, land use, and neighborhood uses. 1766 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 48 EXPOSURE AND MARKETING TIME Exposure time is: 1) The time a property remains on the market; 2) The estimated length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal; 3) A retrospective estimate based on an analysis of past events assuming a competitive and open market. Marketing time is an opinion of the amount of time it might take to sell a real or personal property interest at the concluded market value level during the period immediately after the effective date of an appraisal. Marketing time differs from exposure time, which is always presumed to precede the effective date of an appraisal. Advisory Opinion 7 of the Appraisal Standards Board of The Appraisal Foundation and Statement on Appraisal Standards No. 6, Reasonable Exposure Time in Real Property and Personal Property Market Value Opinions address the determination of reasonable exposure and marketing time. (Source: Appraisal Institute, The Dictionary of Real Estate Appraisal, 7th ed., Chicago: Appraisal Institute, 2022). Financing for commercial properties appears to be available at this time. Most properties offered for sale have been exposed on the market for six to twelve months or longer. The CoStar Group reported the historical marketing times (exposure time) for 145 vacant land properties in Palm Beach County from 4/17/2023 through 4/17/2024. The marketing time ranged from 4.3 to 16.3 months, with an average of 13.3 months. We note that the Costar data can be skewed by many properties that were significantly overpriced by unmotivated sellers and/or were not properly marketed and languished on the market for several years. We believe if appropriately priced and marketed, the subject would sell in the lower portion of the time frame range exhibited by the CoStar data. Many of the properties in the CoStar research were overpriced and only sold after the asking prices were significantly reduced. Properly priced properties sell more quickly. Considering the preceding, as well as sales that have taken place in the local market, and assuming a prudent pricing strategy, we estimate an exposure time of 10 - 15 months. Looking forward, we feel this would be a reasonable estimate for marketing time as well. 1767 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 49 SALES COMPARISON APPROACH The sales comparison approach is the process of deriving a value indication for the subject property by comparing market information for similar properties with the property being appraised, identifying appropriate units of comparison, and making qualitative comparisons with or quantitative adjustments to the sale prices (or unit prices, as appropriate) of the comparable properties based on relevant, market - derived elements of comparison. (Appraisal Institute, The Dictionary of Real Estate Appraisal, 7th ed., Chicago: Appraisal Institute, 2022.) The sales comparison approach requires that the appraiser locate recent sales of similar properties and through an adjustment process arrive at an indication of what these properties would have sold for if they possessed all of the salient characteristics of the subject property. These adjusted sales prices are then correlated into an estimate of the market value of the property via the sales comparison approach to value. A search of the Palm Beach County official records, local multiple listing service records, discussions with local brokers and appraisers and a personal inspection of the subject area produced several sales of similar type properties. The sales used in the analysis were the best comparables that we were able to verify with public records and/or a party to the transaction. The following pages feature a detailed write up of each comparable used in the analysis, a location map and summary of the selected comparable sales data, which is followed by a discussion of the pertinent adjustments and conclusion of value. 1768 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 50 SALE NO. 1 - 400 East Boynton Beach Boulevard, Boynton Beach, FL 33435 AC File No.: 2230632.000 ID: 913614 OR Book/Page: 33540/0186, 0189, 0192, 0195, 0198 Type: Land Sale Status: Sale Sub-Type: Commercial Date: May 3, 2022 Grantor: 306 BBB LLC, East Ocean Avenue LLC, Boynton Beach Property Holdings LLC, 416 Boynton LLC, 422 Boynton Partners LLC, First Avenue Boynton LLC Grantee: BB North LLC Legal: All or portions of Blocks 2 and 5, Town of Boynton Beach, Plat Book 1, Page 23, Palm Beach County, Florida. (See deeds for complete legals) Folio No.: 08-43-45-28-03-002-0070, 08-43-45-28-03-005-0100, 08-43-45-28-03-002-0080, 08-43- 45-28-03-005-0040, 08-43-45-28-03-005-0091, 08-43-45-28-03-005-0080, 08-43-45-28- 03-002-0050, 08-43-45-28-03-002-0030, 08-43-45-28-03-002-0020, 08-43-45-28-03- 002-0110, 08-43-45-28-03-005-0020 Location: Southeast corner of East Boynton Beach Boulevard and NE 3rd Street, Boynton Beach Zoning: MU-C - Mixed Use Core, 80 D.U./Acre by Boynton Beach Land Use: MXH - Mixed Use High, 80 D.U./Acre 1769 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 51 Utilities: Municipal water and sewer, electricity, and telephone Site Size: Square Feet: 145,778 Acres: 3.347 Shape: Irregular Street Frontage (Ft.): 920 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Various commercia and industrial buildings Intended Use: Mixed use multifamily and commercial Highest and Best Use: Mixed use multifamily and commercial Verification: Source: News articles, public records Relationship: News articles, public records Conditions of Sale: Arm's-length Verified By: B. Arnold Date: December 18, 2023 Sales History: No arm's length transactions in the previous five years Sales Price: $8,907,804 Price/SF Land: $61.11 Price/Acre: $2,661,429 Financing: $6,737,500 provided by Synovus Bank record in Palm Beach County OR Book 33540, Page 208 (mortgage included additional parcels not included in this assemblage) Comments: This is an assemblage of 11 parcels from various sellers. Five were improved with various low rise commercial and industrial buildings and 7 were vacant. Buyer intends to redevelop this assembled site with a mixed use project. Buyer also purchased a separate assembled 1.886 acre site on the south side of Ocean Avenue for $3,092,196 for a total acquisition of $12,000,000 for the two sites. Buyer indicated they were attracted to the site because Boynton Beach lies between West Palm Beah and Delray Beach and the site is close to the beach and only a couple of miles from downtown Delray Beach. Previously In 2017, the city approved both properties for 371 apartments and 15,757 square feet of commercial space, to be called the Villages at East Ocean Avenue, but construction never moved forward at that time. The new buyer indicates they will build the first phase of the project on this, the north parcel, which will consist of 336 apartments (roughly 100 DU/Acre) and roughly 10,000 square feet of retail, with amenities including a pool, a fitness center and a clubhouse. 1770 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 52 SALE NO. 2 - 315 South Federal Highway, Boynton Beach, FL 33435 AC File No.: 2230632.000 ID: 913615 OR Book/Page: 34051/0685 Type: Land Sale Status: Sale Sub-Type: Commercial Date: January 3, 2023 Grantor: Truist Bank Grantee: 315 South Federal Legal: Lots 1 through 7 inclusive, the North 60 feet of Lot 8 and the North 1/2 of Lot 10 Block A, Pence Subdivision No. 1, Plat Book 1, Page 33, Palm Beach County, Florida, LESS U.S. Highway One right-of-way Folio No.: 08-43-45-28-07-001-0010 Location: Southwest corner of South Federal Highway and SE 2nd Avenue, Boynton Beach Zoning: C3 - Community Commercial by Boynton Beach Land Use: LRC - Local Retail Commercial Utilities: Municipal water and sewer, electricity, and telephone 1771 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 53 Site Size: Square Feet: 107,846 Acres: 2.476 Shape: L Street Frontage (Ft.): 975 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Bank branch Intended Use: Redevelopment Highest and Best Use: Mixed Use Redevelopment Verification: Source: Costar, public records Relationship: public records Conditions of Sale: Arm's-length Verified By: B. Arnold Date: December 19, 2023 Sales History: No arm's length transactions in the previous five years Sales Price: $6,000,000 Price/SF Land: $55.63 Price/Acre: $2,423,263 Financing: None recorded Comments: This site is currently improved with an older Truist Bank branch building built in 1964 and containing 10,576 square feet. As of drive by inspection on 12/20/23 this branch location appears to be permanently closed. The buyer previously purchased several parcels adjacent to the south in January and February 2022 for total of $8,500,000 for 3.5709 acres, equating to $54.65/SF of land. This purchase gives the buyer control of almost the entire block (save for one 0.7598 acre parcel at 407 South Federal Highway) bound by SE 2nd and SE 5th Avenues to the north and South Federal Highway and SE 4th Street to the east and west. All of these properties have a City of Boynton Beach Community Redevelopment Agency recommended future land use of Mixed Use Medium, 50 D.U./Acre, which will make it easier for the owner to seek a zoning and future land use change. 1772 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 54 SALE NO. 3 - 225 West Boynton Beach Boulevard, Boynton Beach, FL 33435 AC File No.: 2240037.004 ID: 913702 OR Book/Page: 34211/0344 Type: Land Sale Status: Sale Sub-Type: Commercial Date: March 29, 2023 Grantor: MG Delray Holdings LLC, Gracey Properties, LLC MABA Holdings, LLC Grantee: Boynton Beach Community Redevelopment Agency Legal: Lots 112 (less the South 10 feet), 113 (less the South 10 feet), 114 (less the South 10 feet), 115 (less the South 10 feet) 116, 117, 118 and 119, Block A, Boynton Hills, Plat Book 4, Page 51, Palm Beach County, Florida Folio No.: 08-43-45-21-07-001-1120, 08-43-45-21-07-001-1131, 08-43-45-21-07-001-1160, 08-43- 45-21-07-001-1180 Location: Northeast corner of NW 2nd Street and West Boynton Beach Boulevard, roughly 1,700 feet east of I-95, Boynton Beach Zoning: C2 and R1A - Neighborhood Commercial and Single-family Residential 6 DU/Acre by Boynton Beach Land Use: LRC - Local Retail Commercial and LDR - Low Density Residential 7.5 DU/Acre Utilities: Municipal water and sewer, electricity, and telephone 1773 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 55 Site Size: Square Feet: 46,017 Acres: 1.056 Shape: Irregular Street Frontage (Ft.): 0 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Vacant Intended Use: Commercial Highest and Best Use: Commercial Verification: Source: Theresa Utterback, Development Services Manager, Boynton Beach CRA, prior Loopnet listing, public records Relationship: Buyer's representative Conditions of Sale: Arm's-length Verified By: B. Arnold Date: February 9, 2024 Sales History: No transactions in the previous five years Sales Price: $2,185,000 Price/SF Land: $47.48 Price/Acre: $2,069,129 Financing: None recorded Comments: This site had been on and off the market for a few years. It had previously been improved with some low rise commercial and residential buildings that were removed prior to this sale. Buyer indicates that the demo costs were added to the contract sales price, but a specific number was not provided. Buyer plans to land bank the property for future redevelopment. They indicated the CRA Board has prioritized acquisition of properties along West Boynton Beach Boulevard east of I-95. This site has a City of Boynton Beach Community Redevelopment Agency recommended future land use of Mixed Use Low, 20 D.U./Acre, which will make it easier for the owner to seek a zoning and future land use change. 1774 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 56 SALE NO. 4 - 1320 South Federal Highway, Boynton Beach, FL 33435 AC File No.: 2240037.004 ID: 913701 OR Book/Page: 34260/0332 Type: Land Sale Status: Sale Sub-Type: Commercial Date: April 20, 2023 Grantor: MJ Jackson Holdings, LLC Grantee: Boynton Beach Square LLC Legal: South 100 feet of Lot 2, Lee Manor Isles, Plat Book 24, Page 211 (less SR 5 right-of- way in OR BK/PG 138/229) Palm Beach County, Florida Folio No.: 08-43-45-27-05-000-0021 Location: Northeast corner of South Federal Highway and Riviera Drive, roughly 660 feet north of Woolbright Road, Boynton Beach Zoning: MU-1 - Mixed Use 1 by Boynton Beach Land Use: MXL - Mixed Use Low, 20 DU/Acre Utilities: Municipal water and sewer, electricity, and telephone 1775 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 57 Site Size: Square Feet: 22,686 Acres: 0.521 Shape: Irregular Street Frontage (Ft.): 105 Topography/Elevation: Level, above road grade Use: Use at Time of Sale: Vacant Intended Use: Commercial Highest and Best Use: Commercial/Mixed Use Verification: Source: Brian Smith w/ Florida Equities Commercial, Costar, public records Relationship: Listing broker Conditions of Sale: Arm's-length Verified By: B. Arnold Date: February 8, 2024 Sales History: Previously sold for $1,100,000 in February 2021, recorded in County OR Book 32194, Page 128 Sales Price: $1,600,000 Price/SF Land: $70.53 Price/Acre: $3,071,017 Financing: None recorded Comments: Property was reported to have been previously site plan approved for an 11,000 square foot 3-story medical office building. Seller had previously planned to occupy a portion of the proposed building with their dental group prior to selling. Property is back on the market with an asking price of $2,750,000. This site has a City of Boynton Beach Community Redevelopment Agency recommended future land use of Mixed Use Medium, 50 D.U./Acre, which will make it easier for the owner to seek a zoning and future land use change. 1776 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 58 SALE NO. 5 - 433 West Boynton Beach Boulevard, Boynton Beach, FL 33435 AC File No.: 2160466, 2240067.001 ID: 913751 OR Book/Page: 34373/0722 Type: Land Sale Status: Sale Sub-Type: Commercial Date: June 12, 2023 Grantor: Boynton East, LLC Grantee: Boynton Beach Community Redevelopment Agency Legal: Long metes and bounds legal description being a portion of Lots 83 through 87 Ridgewood Plat Book 13, Page 7, Palm Beah County, Florida and Lot 129 (less the South 10 feet) Ridgewood Hills, Plat Book 23, Page 250, Palm Beach County, Florida Folio No.: 08-43-45-21-15-000-0830 Location: Northeast corner of West Boynton Beach Boulevard and NW 4th Street, just east of I-95, Boynton Beach Zoning: C2 - Neighborhood Commercial by Boynton Beach Land Use: Local Retail Commercial Utilities: Municipal water and sewer, electricity, and telephone 1777 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 59 Site Size: Square Feet: 24,707 Acres: 0.567 Shape: Rectangular Street Frontage (Ft.): 335 Topography/Elevation: Level, above road grade Use: Use at Time of Sale: Vacant Intended Use: Retail Highest and Best Use: Retail Verification: Source: Theresa Utterback w/ Boynton Beach CRA Relationship: Buyer Conditions of Sale: Arm's-length Verified By: B. Arnold Date: February 9, 2024 Sales History: No transactions in the previous five years Sales Price: $1,200,000 Price/SF Land: $48.57 Price/Acre: $2,116,402 Financing: None recorded Comments: Property was purchased by the CRA to help control future development along the Boynton Beach Boulevard gateway into downtown. The CRA will hold the property until a suitable development plan is proposed. The CRA Board has prioritized acquisition of properties along West Boynton Beach Boulevard east of I-95. This site has a City of Boynton Beach Community Redevelopment Agency recommended future land use of Mixed Use Low, 20 D.U./Acre, which will make it easier for the owner to seek a zoning and future land use change. 1778 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 60 SALE NO. 6 - 2607 South Federal Highway, Boynton Beach, FL 33435 AC File No.: 2240051.000 ID: 913741 OR Book/Page: 34837/0061 Type: Land Sale Status: Sale Sub-Type: Commercial Date: February 14, 2024 Grantor: YoAtrium, LLC, ICUG, LLC and Heywood, LLC Grantee: FED27, LLC Legal: Four parcels described by metes and bounds located in the SE 1/4 of Section 33, Township 45 South, Range 43 East, Palm Beach County, Florida. See deed for complete legal. Folio No.: 08-43-45-33-00-000-5070, 08-43-45-33-00-000-5080, 08-43-45-33-00-000-5090, 08-43- 45-33-00-000-5100 Location: West side of South Federal Highway, roughly 0.62 miles south of Woolbright Road, Boynton Beach Zoning: C3 w/ UCDO - Community Commercial w/ Urban Commercial District Overlay by Boynton Beach Land Use: LRC - Local Retail Commercial Utilities: Municipal water and sewer, electricity, and telephone 1779 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 61 Site Size: Square Feet: 185,997 Acres: 4.269 Shape: Rectangular Street Frontage (Ft.): 660 Topography/Elevation: Level, near road grade Use: Use at Time of Sale: Retail Intended Use: Mixed Use Highest and Best Use: Mixed Use Verification: Source: Nick Rojo w/ Affiliated Development, news article, site plan public records Relationship: Buyer's representative Conditions of Sale: Arm's-length Verified By: B. Arnold Date: March 26, 2024 Sales History: No transactions in the previous five years Sales Price: $12,033,652 Price/SF Land: $64.70 Price/Acre: $2,818,846 Financing: $6,000,000 provided by the seller, recorded in County OR Book 34827, Page 65 Comments: Sale consists of three contiguous parcels on the south side of SE 27th Terrace and one parcel on the north side. The southern portion contained an older two-story strip type retail center that added no contributory value at the time of sale. The property has been approved for two projects known collectively as The Dune. Dune South contains 298 apartment units with 2,595 square feet of commercial space in an 8 -story building with structured parking (100 Du/Acre). Dune North contains 38 3-story townhouse units (40 DU/Acre). The projects were approved as part of Florida's Live Local Act (Senate Bill 102) and require 40% of units be set aside for workforce housing. The act allows qualifying projects preemptions on certain development regulations such as density and height, and also requires administrative approval for eligible projects. 1780 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 62 Comparable Sales Locations Maps 1781 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 63 1782 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 64 1783 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 65 1784 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 66 1785 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 67 1786 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 68 1787 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 69 1788 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 70 Sale No. Date OR Bk Page Property Address Land Area SF Acres Sale Price Price/SF of Land 1 33540 400 East Boynton Beach Boulevard 145,778 May-22 0186, 0189, 0192, 0195, 0198 Boynton Beach 3.35 2 34051 315 South Federal Highway 107,846 Jan-23 0685 Boynton Beach 2.48 3 34211 225 West Boynton Beach Boulevard 46,017 Mar-23 0344 Boynton Beach 1.06 4 34260 1320 South Federal Highway 22,686 Apr-23 0332 Boynton Beach 0.52 5 34373 433 West Boynton Beach Boulevard 24,707 Jun-23 0722 Boynton Beach 0.57 6 34837 2607 South Federal Highway 185,997 Feb-24 0061 Boynton Beach 4.27 Subj.West Boynton Beach Boulevard Land Assemblage 13 Parcels 143,684 Apr-25 Boynton Beach 3.30 SALES SUMMARY TABLE N/A $1,600,000 $8,907,804 $6,000,000 $12,033,652 $61.11 $55.63 $2,185,000 $47.48 $70.53 $1,200,000 $48.57 $64.70 N/A N/A 1789 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 71 Sales Summary and Discussion In this analysis, we considered differences between the sales and the subject in terms of property rights sold, conditions of sale, financing, market conditions (trend or time adjustment), location, land size, and quality and condition of any existing improvements. The appraisers based the comparisons on a standardized unit of measure, the sale price per square foot of land. The sale price per square foot of land correlates well among the comparable sales and is commonly used by buyers in this type of analysis. Conditions of Sale All sales were reportedly market oriented. No adjustment consideration for conditions of sale was necessary. Financing We considered any indication of favorable financing. All sales were either on a cash basis or had market oriented financing, therefore, no differences were noted nor were adjustments made. Market Conditions The sales occurred over the period from May 3, 2022 to February 14, 2024. The subject property date of value is April 13, 2025. The market has shown improving market conditions over this time period. Prior to the beginning of the pandemic in early 2020, property values in the South Florida area were on the rise and this trend continued until end-2022 when rising interest rates stabilized the market. Based on national trends and what we have seen in the subject's local market, we believe an appropriate time adjustment would be 1% per month, which we have rounded down to the nearest whole month. As such, Sale 1 required an upward adjustment for appreciation from the date of sale through end-2022. Location The subject property is located at West Boynton Beach Boulevard Land Assemblage 13 Parcels in Boynton Beach. Sales 3 and 5 are in the same location as the subject along the West Boynton Beach commercial corridor requiring no adjustment. Sales 1, 2, 4 and 6 are in superior locations in the downtown cultural center or the urban commercial corridor along Federal Highway requiring downward adjustments. Size Generally, larger properties will sell for a somewhat lower price per square foot of land than smaller ones, and vice versa, when all else is equal. The sales in this data set do not appear to follow this pattern and no adjustment is warranted. 1790 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 72 Site Conditions Properties of all different shapes can typically be developed. Some properties, however, allow for a more efficient development of the site providing for the maximum development intensity. Neither the subject nor the comparables appear be impacted by their shape in such a manner as to limit their development. Another factor considered here is the existence of any physically detrimental site conditions such as contamination or muck. Neither the subject nor any of the comparables were known to suffer from any detrimental site conditions. Zoning/Land Use The subject property has a zoning designation of C-2/Neighborhood Commercial, R1A/Single Family 6DU/acre by Boynton Beach with an underlying future land use of OC, LRC, LDR/Office Commercial, Local Retail Commercial, Low Density Residential by Boynton Beach. Though they may vary by municipality, all of the comparables have similar commercial and mixed -use oriented designations that allow for similar uses as the subject. No adjustment is warranted. 1791 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 73 Sale Date Property Address Land SF Price/ Land SF Financing/ Adj. Price/ Land SF Conditions of Sale/ Adj. Price/ Land SF Market Conditions/ Adj. Price/ Land SF Location Land Size Site Conditions Zoning/ Land Use Final Combined Adjustment Overall Indication 1 400 East Boynton Beach Boulevard 0%0%7% May-22 Boynton Beach $61.11 $61.11 $65.38 2 315 South Federal Highway 0%0%0% Jan-23 Boynton Beach $55.63 $55.63 $55.63 3 225 West Boynton Beach Boulevard 0%0%0% Mar-23 Boynton Beach $47.48 $47.48 $47.48 4 1320 South Federal Highway 0%0%0% Apr-23 Boynton Beach $70.53 $70.53 $70.53 5 433 West Boynton Beach Boulevard 0%0%0% Jun-23 Boynton Beach $48.57 $48.57 $48.57 6 2607 South Federal Highway 0%0%0% Feb-24 Boynton Beach $64.70 $64.70 $64.70 Subj.West Boynton Beach Boulevard Land Assemblage 13 Parcels Apr-25 Boynton Beach QUANTITATIVE SALES ADJUSTMENT CHART - PRICE/LAND SF 145,778 107,846 46,017 24,707 22,686 $48.57 0% 185,997 -10%0% 0% $61.11 $47.48 $55.63 -10% -10% $70.53 0% -10%0% $64.70 0% -10%0%-10%0%0% 0%0%0% 143,684 N/A N/A N/A N/A N/A N/A N/A N/A N/AN/A 0% 0%0%0% 0% -10%0%0% 0%0% 0% -10%$58.84 $48.57 $58.23 $50.07 $47.48 $63.48 1792 West Boynton Beach Boulevard Land Assemblage A&C JOB NO.: 2250168.000 74 Conclusion Considering all of these differences, we developed the preceding quantitative comparison table listing the sales as they compare to the subject property, based on a price per square foot of land. Not all categories considered are depicted. Those omitted reflect no differences between the sales and the subject property. The unadjusted range of value indicated by the sales is roughly $47.48 to $70.53 per square foot of land area. The preceding quantitative comparison chart shows the value range for the subject property after adjustment based on a price per square foot of land area to be from $47.48 to $63.48 with a mean of $54.45. Sale 1 as the oldest sale, is located along the regional Florida East Coast rail lines, reflects an allocated value of a larger transaction and appears to be a less reliable comparable. Excluding Sale 1, and comparing Sales 2, 3, 4, 5 and 6 results in a value range value range for the subject property after adjustment based on a price per square foot of land area to be from $47.48 to $63.48 with a mean of $53.57. Considering all of the salient factors discussed previously and prevailing market conditions, the appraisers feel a conclusion in the middle portion of the indicated range is most appropriate. Given the preceding data and discussions, it is concluded that the market reflects a value per square foot of land area for the subject property of $53.50 as of April 13, 2025. Total value is calculated as follows: 143,684 Square Feet @ $53.50 per Square Foot = $7,687,094 Rounded To: MARKET VALUE VIA SALES COMPARISON APPROACH: $7,700,000 1793 QUALIFICATIONS OF APPRAISER ROBERT B. BANTING, MAI, SRA PROFESSIONAL DESIGNATIONS - YEAR RECEIVED MAI - Member Appraisal Institute - 1984 SRA - Senior Residential Appraiser, Appraisal Institute - 1977 SRPA - Senior Real Property Appraiser, Appraisal Institute - 1980 State-Certified General Real Estate Appraiser, State of Florida, License No. RZ4 - 1991 EDUCATION AND SPECIAL TRAINING Licensed Real Estate Broker - #3748 - State of Florida Graduate, University of Florida, College of Business Administration, BSBA (Major - Real Estate & Urban Land Studies) 1973 Successfully completed and passed the following Society of Real Estate Appraisers (SREA) and American Institute of Real Estate Appraisers (AIREA) courses and/or exams: Note: the SREA & AIREA merged in 1991 to form the Appraisal Institute. SREA R2: Case Study of Single Family Residence SREA 201: Principles of Income Property Appraising SREA: Single Family Residence Demonstration Report SREA: Income Property Demonstration Report AIREA 1B: Capitalization Theory and Techniques SREA 101: Introduction to Appraising Real Property AIREA: Case Studies in Real Estate Valuation AIREA: Standards of Professional Practice AIREA: Introduction to Real Estate Investment Analysis AIREA 2-2: Valuation Analysis and Report Writing AIREA: Comprehensive Examination AIREA: Litigation Valuation AIREA: Standards of Professional Practice Part C ATTENDED VARIOUS APPRAISAL SEMINARS AND COURSES, INCLUDING: The Internet and Appraising Golf Course Valuation Discounting Condominiums & Subdivisions Narrative Report Writing Appraising for Condemnation Condemnation: Legal Rules & Appraisal Practices Condominium Appraisal Reviewing Appraisals Analyzing Commercial Lease Clauses Eminent Domain Trials Tax Considerations in Real Estate Testing Reasonableness/Discounted Cash Flow Mortgage Equity Analysis Partnerships & Syndications Hotel and Motel Valuation Advanced Appraisal Techniques Federal Appraisal Requirements Analytic Uses of Computer in the Appraisal Shop Valuation of Leases and Leaseholds Valuation Litigation Mock Trial Residential Construction From The Inside Out Rates, Ratios, and Reasonableness Analyzing Income Producing Properties Development of Major/Large Residential Projects Standards of Professional Practice Regression Analysis In Appraisal Practice Federal Appraisal Requirements Engaged in appraising and consulting assignments including market research, rental studies, feasibility analysis, expert witn ess testimony, cash flow analysis, settlement conferences, and brokerage covering all types of real estate since 1972. President of Anderson & Carr, Inc., Realtors and Appraisers, established 1947 from 1995 to 2025 Past President Palm Beach County Chapter, Society of Real Estate Appraisers (SREA) Realtor Member of Central Palm Beach County Association of Realtors Special Master for Palm Beach County Property Appraisal Adjustment Board Qualified as an Expert Witness providing testimony in matters of condemnation, property disputes, bankruptcy court, foreclosures, and other issues of real property valuation. Member of Admissions Committee, Appraisal Institute - South Florida Chapter Member of Review and Counseling Committee, Appraisal Institute - South Florida Chapter Approved appraiser for State of Florida, Department of Transportation and Department Natural Resources. Instructor of seminars, sponsored by the West Palm Beach Board of Realtors. Authored articles for The Palm Beach Post and Realtor newsletter. Real Estate Advisory Board Member, University of Florida. TYPES OF PROPERTY APPRAISED - PARTIAL LISTING Air Rights Medical Buildings Apartment Buildings Churches Amusement Parks Department Stores Hotels - Motels Marinas Condominiums Industrial Buildings Office Buildings Residences - All Types Mobile Home Parks Service Stations Special Purpose Buildings Restaurants Auto Dealerships Vacant Lots - Acreage Residential Projects Golf Courses Shopping Centers Leasehold Interests Financial Institutions Easements "I am currently certified under the continuing education progr am of the Appraisal Institute." 1794 QUALIFICATIONS OF APPRAISER WILLIAM H. SPENGLER REAL ESTATE APPRAISAL LICENSE FL Certified Residential Real Estate Appraiser RD8462 ACADEMIC EDUCATION BA, Economics - University of Colorado, Boulder, CO REAL ESTATE DESIGNATIONS CRS - Certified Residential Specialist GRI - Graduate Realtor Institute REAL ESTATE APPRAISAL EDUCATION TYPES OF PROPERTIES APPRAISED General Appraiser Income Approach Commercial Office Buildings General Appraiser Site Value & Cost Approach Commercial Retail Buildings General Appraiser Market Analysis Highest & Best Use Commercial Flex Office/Warehouses General Appraiser Sales Comparison Approach Commercial Industrial Buildings Nuances of Valuation-Cornerstone of Market Value Commercial Industrial Land Florida Law & Rules Update 2020 Special Use Properties National Uniform Standards Professional Appraisal Practice Civic Use Buildings Florida Appraisal Law Civic Use Land Specialized Residential Appraisal Topics Historical/Landmark Buildings Statistics, Modeling & Finance Equestrian Estates; Stables, Arenas, Rings Residential Report Writing & Case Studies Agricultural Land Advanced Residential Appraisal Applications & Case Studies Residential Development Land Residential Market Analysis Highest & Best Use Residential Oceanfront Properties Residential Sales Comparison Approach Residential New Construction Residential Site Value & Cost Approach Residential Condominiums Residential Income Approach Residential Income Properties Basic Appraisal Principles / Appraisal Procedures Residential Land / Subdivision Land Supervisor/Trainee Residential Ground Leases Parking & Its Impact on Florida Properties Residential Navigable Waterfront Properties Litigation Property Valuation REAL ESTATE APPRAISAL EXPERIENCE REAL ESTATE BROKERAGE/SALES EXPERIENCE Anderson & Carr, Inc., West Palm Beach, FL FL Real Estate Broker 2018-2019 July 2022 to present CO Real Estate Broker 2003-2018 CO Real Estate Agent 1995-2003 Appraisal & Acquisition Consultants, Inc., Lantana, FL May 2019 - June 2022 TYPES OF PROPERTIES APPRAISED REAL ESTATE DESIGNATIONS CRS - Certified Residential Specialist GRI - Graduate Realtor Institute l Land / Subdivision Land Residential Ground Leases Litigation Property Valuation Residential Navigable Waterfront Properties 1795 Appraiser Licenses 1796 1797 ADDENDUM 1798 1799 1800 1801 1802 1803 Street #Property Address Structure or Lot?Legal Appraised Value Asking Price Lot Size Acres Square Feet Price per Sq. Ft. % Over/Below Appraised Value Assemblage Total Square Feet Assemblage Total Price per Sq. Ft. 480 W. Boynton Beach Boulveard 480 W. Boynton Beach Blvd.Inn at Boynton Beverly Hill Add No 3 Blks 71 & 73 $8,500,000.00 $8,500,000.00 2.11 91911.6 $92.48 0%N/A N/A 444 W. Boynton Beach Boulveard 444 W. Boynton Beach Blvd.13 parcels vacant & structures Boynton Heights Add $7,700,000.00 $7,500,000.00 3.3 143748 $52.17 -3%N/A N/A 444 W. Boynton Beach Blvd.13 parcels vacant & structures Boynton Heights Add $7,700,000.00 $7,100,000.00 3.3 143748 $49.39 -8%N/A N/A Street #Property Address Structure or Lot?Legal Appraised Value Purchase Price Lot Size Acres Square Feet Price per Sq. Ft. % Over/Below Appraised Value Assemblage Total Square Feet Assemblage Total Price per Sq. Ft. Demolition Costs Date Acquired THE PIERCE ASSEMBLAGE Parking Lot part of Church Purchase-115 N. Fed. Hwy.0.3578 Structure demo'd w/ SWA grant and temporary parking placed on lot 0.9376 511 Commercial Retail Blvd. - 7720 sq ft Lot 10 & W 7'8" of Lot 11, Blk 6, Town of Boynton 0.1545 515 Commercial Retail Blvd. - 4101 sq ft Lot 11 less W 7'8" Blk 6 Town of Boynton 0.1134 529 Commercial Retail Blvd. - 5644 sq ft Lot 12, Blk 6 Town of Boynton 0.1431 508 E. Boynton Beach Blvd. Bradley Miller Commercial Retail Bldg. - 1925 sq ft Lots 6 & 7, Block 1, Original Town of Boynton $780,000.00 $915,000.00 0.2863 12471.228 $73.37 15%October-21 NE 1st Stree & Avenue 4th Street Parking Lot Lots 8 & 9 0 $10.00 0.1578 6873.768 $0.00 July-01 USPS PURCHASE 209 N. Seacrest Blvd. Commercial Rental Property (City Water Dept. & E2L offices for Town square project) Lots 23, 24, 25, 26 and 27 and S 7' of Lot 22, Block 4, Boynton Heights $1,400,000.00 $1,400,000.00 0.2885 12567.06 $111.40 0%October-20 217 N. Seacrest Blvd.USPS Facility Lots 9, 10, 11 & 12, Block 4, Boynton Heights Addition to Town of Boynton Beach $1,600,000.00 $1,600,000.00 0.9065 39487.14 $40.52 0%February-23 401 Commercial Retail Bldg. - 2062 sq ft Lot 6, Less S 17.6 Ft SR 804/Arden Park Addition 0.1091 407 Vacant Lot W 46.85 ft of Lot 5/Less S17.6 ft SR 804/Arden Park Addition 0.1284 411 Vacant Lot -Commercial Retail Bldg. - 3334 sq ft - Structure demo'd Lt 4 & E 3.15 ft of Lot 5/Less S 17.6 Ft SR 804/Arden Park 0.1457 219 W. Boynton Beach Blvd.Vacant Lot Lot 112 and E 25' of Lot 113, Block A, Boynton Hills 0.1725 7514.1 225 W. Boynton Beach Blvd.Vacant Lot W 25' of Lot 113 and all of Lots 114, 115, Block A, Boynton Hills 0.3183 13865.148 212 NW 3rd Court Vacant Lot Lots 118 & 119, Block A, Boynton Hills 0.2924 12736.944 222 NW 3rd Court Vacant Lot Lots 116 & 117, Block A, Boynton Hills 0.2732 11900.592 433 W. Boynton Beach Blvd.Vacant Lot Lots 83-86 Ridgewood Hills $950,000.00 $1,200,000.00 0.5672 24707.232 $48.57 21%N/A N/A N/A June-23 1111 S. FEDERAL HIGHWAY DEVELOPMENT, LLC 1111 S Federal Highway Lot Lots 12, 13 Parker Estates $891,000.00 $870,000.00 0.3549 15459.444 $56.28 -2%N/A N/A N/A April-24 YELLOWBEARD, INC. 1022 N. Federal Highway Structure will be demo'd prior to sale-Vacant Lot Lots 20, 21, 22, Blk 3, Lake Addition $910,000.00 $1,000,000.00 0.3805 16574.58 $60.33 9%N/A N/A $20,500 May-24 Total Purchase Price Total Lot Size Acres Total Square Feet Price per Sq. Ft. $16,687,010.00 6.0877 265180.212 $62.93 TBD TBD TBD SUBJECT PROPERTY FOR BOYNTON BEACH CRA PURCHASE 6% 15% MATT GRACEY PROPERTIES - W. BOYNTON BEACH BLVD. ASSEMBLAGE $2,185,000.00 $47.48 46016.784 $47.48 N/A Demolition Costs BOYNTON EAST, LLC AVERAGE COST PER SQ. FT. OF PURCHASES ABOVE BOYNTON BEACH CRA COMMERCIAL PROPERTY PURCHASES Last 5 yrs. Price Per Sq. Ft. E. Ocean Avenue Oyer December-21$3,600,000.00 17903.16 $201.08 115 $53.17N Federal Highway Church Lots 1, 2, 3, 4, 5, 6 and 7 Block 6, Original Town of Boynton May-18$3,000,000.00 56427.624 $35,828.75 $45,804.00 52054.2 $57.63 E. BOYNTON BEACH BLVD. ASSEMBLAGE (ABC RENTAL PROPERTIES) 16692.192 93675.78 $54.94E. Boynton Beach Blvd. ABC Rentals $917,000.00 16692.192 $54.94 $76.61 $85,720.00 February-21 March-23 0% 13% $2,539,000.00 $3,400,000.00 $917,000.00 $1,900,000.00 1804 •Attachment I - Beautification and Code Enforcement Efforts Information Sheet COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 NEW BUSINESS AGENDA ITEM 15.C SUBJECT: Discussion and Consideration of Budget Funding Towards the Neighborhood Officer Program ("NOP"), Code Enforcement, and/or Beautification Efforts in the CRA SUMMARY: On M ay 13, 2025, the CRA Board directed staff and legal to add an agenda item to discuss avenues for the CRA to enhance support in the CRA area for the CRA’s Neighborhood Office, code enforcement, and beautification efforts. Attached is a list of potential options to aid the Board in its discussions (see Attachment I). Upon further direction as to which options may be of interest to the Board, staff and legal will perform additional research and bring options to the Board for consideration at a future meeting. FISCAL IMPACT: Fiscal Year 2025-2026 Budget CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach CRA Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on Board direction. ATTACHMENTS: Description 1805 4935-0879-5718, v. 2 Beautification and Code Enforcement Information Sheet Effort/Initiative Description Commercial or Residential Façade Improvement Grants Provides a specified amount of funding for minor exterior repairs and improvements to commercial or residential properties. Painting, awnings, lighting, doors, windows, fencing, driveway repairs, etc. Clean and Safe Program Employs staff or volunteers to enhance cleanliness and safety in target areas beyond ordinary requirements. Trash removal, graffiti removal, lighting, landscaping, etc. Beautification Award Program Recognizes properties with outstanding “curb appeal” through a judged competition. Cash prizes for the top placing properties. Funding Code Enforcement Personnel Funds an additional City staff member to be more visible in Community Redevelopment Area and remediate code enforcement violations in the Community Redevelopment Area, with access to funds to assist with compliance. Volunteer Improvement Program Uses volunteers and donated materials to enhance qualifying properties based on location, need, or other criteria. Landscaping, graffiti removal, painting, minor repairs. Strategic Investment Streetscape Program Reimburses developers for certain streetscape improvements for new commercial or mixed-use projects, up to a set amount. Funding Public Works Personnel Funds an additional City staff member in the Public Works Department for enhanced visibility, trash removal, litter prevention, and infrastructure within the Community Redevelopment Area. Beautification Projects Direct funding for specific beautification initiatives and improvements in public parks, streetscapes, and downtown areas. 1806 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.A SUBJECT: Heart of Boynton Shops Project Update SUMMARY: The Heart of Boynton Village Apartments & Shops provides 124 affordable multi-family rental units, as well as, 8,250 square feet of leasable commercial space. This agenda item provides update on the current project status for the Heart of Boynton Shops. Tenant Update: Unit 101/102: Lease signed; permit application on May 21, 2025; review cycle completed on May 23, 2025 Unit 103: Permit issued on 2/13/25; construction underway Unit 104: Permit issued on 2/7/25; tenant selected different contractor Unit 105: Permit issued on 2/4/25; construction underway Unit 106: Permit issued on 2/4/25; construction underway Unit 107: Permit issued on 2/4/25; tenant selected different contractor Unit 108: Permit issued on 2/4/25; construction underway Build-out Update: March 10, 2025: underground plumbing completed March 27, 2025: concrete floor completed April 8, 2025: demising wall framing completed April 17, 2025: Unit 104 and 107 were turned over to the tenants to complete their build- out with their preferred contractors April 25, 2025: interior framing began in Unit 103, 105, 106 and 108 May 5, 2025: electrical work began in Unit 103, 105, 106 and 108 May 19, 2025: site visit with tenants to select cabinet colors and have one-on-one walkthroughs with Unit 103, 105, 106 and 108 May 30, 2025: ongoing electrical work in Units 103, 105, 106 and 108 June 3, 2025: HVAC work in Unit 108 and 106 nearing completion See Attachment I for photo updates. CRA Staff continue to have weekly coordination meetings with CMC. FISCAL IMPACT: 1807 •Attachment I - HOB Shops Photo Update 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. 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 1808 1809 1810 1811 1812 1813 1814 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.B 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 2024-2025: FY 2024-2025 Budget $600,000 Mid-year Budget Adjustment $400,000 Grants Awarded Since October 8, 2024 ($622,846) Remaining Fund Balance as of 6/3/25: $377,154 List of CRA Board approved Economic Development Program Grantees since October 8, 2024: Business Name Address Grant Grant Amount Chow Hut LLC 425 NE 4th Street Property Improvement $25,000 Design Stop LLC 1505 S. Federal Highway Rent Reimbursement $21,000 Spectrum Innovations Inc.1300 W. Industrial Avenue, Unit 113 Rent Reimbursement $11,700 1815 The Meaning Channel Group LLC 1210 S. Federal Highway, Unit 101 Rent Reimbursement $15,750 Thai Venture Group LLC d/b/a Kabuki Sushi Thai Tapas 321 E. Woolbright Road Rent Reimbursement Property Improvement $84,000 Loveli Tea LLC 306 E. Boynton Beach Boulevard Rent Reimbursement Property Improvement $56,000 EGVV LLC d/b/a Paloma Mexican Restaurant 510 E. Ocean Avenue, Unit 105 Rent Reimbursement $24,000 DSS Restaurant Management Inc. d/b/a Two Georges 728 Casa Loma Boulevard Property Improvement $59,750 Robinson BBQ Inc.132 E. Martin Luther King Jr. Boulevard Property Improvement $27,900 Bungalow at Boynton LLC d/b/a The Bungalow Bar & Grill 511 NE 4th Street Rent Reimbursement $24,000 The Meaning Channel Group LLC 1210 S. Federal Highway, Unit 101 Property Improvement $9,571.48 AJF Dental LLC d/b/a Forbes Dental 1315 N. Federal Highway, Suite 1 Rent Reimbursement Property Improvement $51,750 JB Dental Care LLC 137 NE 10th Avenue, Unit 103 Rent Reimbursement Property Improvement $39,432.48 Diane Andre Mediation LLC d/b/a Law and Mediation Office of Diane Andre Esq.137 NE 10th Avenue, Unit 106 Rent Reimbursement Property Improvement $38,450 The M Salon & Spa LLC d/b/a Nails & Co. 510 E. Ocean Avenue, Unit 104 Rent Reimbursement $21,000 Home with Help of Florida Inc.1220 S. Federal Highway, Unit 1010 Property Improvement $13,667.09 Xpedited Health LLC 137 NE 10th Avenue, Unit 101 & 102 Rent Reimbursement Property Improvement $49,875 Driftwood 2005 LLC d/b/a Driftwood 2005 S. Federal Highway Property Improvement $50,000 FISCAL IMPACT: FY 2024-2025 Budget, Project Fund, Line Item 02-58400-444, $1,000,000 1816 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. 1817 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.C SUBJECT: Social Media & Print Marketing Update SUMMARY: Throughout the month of May, a variety of marketing efforts 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 Marketing BBCRA Project Posts: Coastal Cruiser Heart of Boynton Village Shops Boynton Harbor Marina The Villages Business Promotional Posts : Utilized Facebook and Instagram feed and stories to promote a variety of businesses, such as: ArtSea Living Studio Gandhi Health & Wellness Ocean Palm Plaza The Bungalow Promotional Events Rock the Plaza at One Boynton Rock the Marina Digital Marketing Blog Posts: Promoted the following blogs on BoyntonBeachInsider.com: 10 Ways the BBCRA is Building a Stronger Economic Future for Boynton Beach In Celebration of 2025 Economic Development Week - May 12-16 Revitalizing Boynton Beach: The Impact of the Boynton Beach CRA Heart of Boynton Shops Support Local & Spoil Mom: 10 Gift Ideas from Boynton Beach Businesses The Weather's Warming Up - And So is the Fun at Boynton Harbor Marina Redevelopment Works Newsletter : Revitalizing Boynton Beach: The Impact of the BBCRA 1818 •Attachment I - May Marketing & Social Media Overview •Attachment II - May - Facebook and Instagram Posts Economic Development Week Honor Our Heroes - Happy Memorial Day Celebrate Mom in Boynton Beach Heart of Boynton Shops Coastal Cruiser Cottage District Boynton Harbor Marina Save the Date - Rock the Marina Rock the Plaza at Ocean Palm Plaza Print & Paid Marketing A quarter-page ad was published in the Coastal Angler to promote the Boynton Harbor Marina. A quarter-page ad was published in the Florida Sport Fishing to promote the Boynton Harbor Marina. A quarter-page ad was published in the Marinalife magazine to promote the Boynton Harbor Marina. Updated digital listing on Waterway Guide website for Boynton Harbor Marina. A Native ad on ThePalmBeaches.com that is set to run May 1st - August 31st. See Attachment I for an overview of the social media and print marketing in May, and Attachment II for a full listing of the Facebook and Instagram posts that were shared. FISCAL IMPACT: FY 2024-2025 Budget, General Fund, Line Item 01-57400-216 - $4,432.95 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. ATTACHMENTS: Description 1819 SOCIAL MEDIA MARKETING OVERVIEW 1820 SOCIAL MEDIA – PROJECT POSTS 1821 SOCIAL MEDIA – PROJECT POSTS 1822 SOCIAL MEDIA - BUSINESS POSTS 1823 SOCIAL MEDIA - BUSINESS POSTS 1824 SOCIAL MEDIA – PROMOTIONAL EVENTS 1825 PRINT MARKETING – COASTAL ANGLER 1826 PRINT MARKETING – FLORIDA SPORT FISHING 1827 PRINT MARKETING – MARINALIFE 1828 DIGITAL MARKETING – WATERWAY GUIDE 1829 DIGITAL MARKETING – THEPALMBEACHES.COM 1830 Facebook & Instagram Posts 1831 Facebook & Instagram Posts 1832 Facebook & Instagram Posts 1833 Facebook & Instagram Posts 1834 Facebook & Instagram Posts 1835 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.D SUBJECT: Social Media Outreach Program 2nd Quarter Report for FY 2024-2025 (January 2025 - March 2025) SUMMARY: The following is a list of the Social Media Outreach Program (SMOP) business development activities from January 1, 2025 to March 31, 2025 (see Attachment I): 92 Businesses are currently registered in the Social Media Outreach Program (126 have registered since program inception) 2 New businesses added during the 1st quarter 27 Businesses were contacted this quarter (contacts are done in-person, email, via phone, and via virtual platforms) Social Media Outreach Program Elements One-on-one social media assistance with businesses has helped businesses to promote themselves and grow their following or connect employers with local talents (see Attachment II for examples of assistance for The Crown Spa, 4 Reel Services, Custom Truss, Johnny Mangos, Picnics in Paradise, Sweetwater, and Scheurer's Chocolate) with various social media platforms such as Google, Facebook, and Instagram. The Boynton Beach Insider Blog is ongoing to aid local businesses and the BBCRA with web search engine optimization (SEO) and to build awareness to the Boynton Beach community about local businesses and CRA projects and programs. The BBCRA has published the following (see Attachment III): 1 /3 1 /2 5 Bloom With Love This Valentine’s Day at The Blossom Shoppe Florist 1/31/25 Savor Handcrafted Mexican Flavors at Paloma Restaurant 1/31/25 The Bungalow Bar & Grill: The New Hangout Spot in Boynton Beach 1/31/25 10 Unique Valentine’s Experiences in Boynton Beach 2 /2 8 /2 5 Set Sail into Sunshine: Rent a Boat at the Boynton Beach Harbor Marina 2 /2 8 /2 5 Custom Truss: Decades of Excellence in Wooden Truss Manufacturing 1836 •Attachment I - SMOP Biz Visited •Attachment II - SMOP Assistance •Attachment III - Blog •Attachment IV - SM Posts •Attachment V - Comparison 2/28/25 4 Reel Services: Your Local Fishing Reel Repair & Parts Supplier 2/28/25 Relax & Unwind: Nails & Co. Salon and Spa Now Open in Boynton Beach! This quarter, the Boynton Beach CRA’s Social Media has consistently reached Boynton Beach community members, enabling businesses to reach potential clients if a connection is made with the CRA's platforms. Attachment IV contains examples of the top performing posts and all posting activities during this quarter. The results from this quarter indicate the BBCRA's social media platforms are still a useful marketing and promotional tool (see Attachment V). Facebook has interacted with 4,900 users this quarter Instagram interacted with 3,100 users this quarter Upcoming Activities Include: Assist in implementing BBCRA Marketing Grant Develop new social media strategies to assist local businesses via the BBCRA social media channels Launch the 2025 Business Development Video Campaign and develop new strategies to reach a larger audience Continue the Boynton Beach Bucks campaign in conjunction with the BBCRA Business Promotions & Events Team Continue with one-on-one business assistance Continue updates of the CRA's business listing Coordinate with BBCRA Grants and Project Manager to promote the SMOP Program to prospective grant recipients Continue in-person business visits to spread awareness to businesses on BBCRA Resources, including upcoming construction activities associated with CRA projects such as Cottage District Infill Housing, and 115 N. Federal Highway Infill Mixed Use Redevelopment Projects. FISCAL IMPACT: FY 2022-2023 Budget, General Fund, Line Item 01-57400-100, $146,167 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. ATTACHMENTS: Description 1837 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP1Florida Tackle Company 1550 N Federal Hwy, Boynton Beach, FL 33435 3/25/2025 x2Spectrum Innovations 1370 W Industrial Avenue #113 3/24/2025 x3 Nails & Co 510 E Ocean Ave unit 104 Boynton Beach FL, 33435. 3/20/20254 Boynton Harbor Marina 735 Casa Loma Blvd, Boynton Beach FL 33435 3/17/2025 x5Starfish Scuba 640 E Ocean Ave #2, Boynton Beach, FL 33435 3/17/2025 x6Custom Truss 510 Industrial Ave, Boynton Beach, FL 33426 3/15/2025 x7Beach House Boutique 1120 S Federal Hwy, Boynton Beach, FL 33435 3/13/2025 x8The Crown Spa 1210 Federal Hwy STE 101, Boynton Beach, FL 33435 3/13/2025 x9 Trilogy Fitness 1550 N Federal Hwy, Boynton Beach, FL 33435 3/12/2025 x10 Dimensional Healthcare Casa Costa 3/10/2025 x11 Bailey's Blendz 640 E Ocean Ave Suite 16, Boynton Beach, FL 33435 3/10/2025 x12 The Ark Dog Grooming Services 1406 N. Federal Hwy Boynton Beach, FL 33435 3/7/2025 x13 Alchemy Salon 640 E Ocean Ave #5, Boynton Beach, FL 33435 3/5/2025 x14 Banana Boat 739 E Ocean Ave, Boynton Beach, FL 33435 3/2/202515 Scheurer's Chocolate 640 E Ocean Ave Unit 10, Boynton Beach, FL 33435 2/27/2025 x16 Sweetwater 1507 S Federal Hwy Boynton Beach FL 33435 2/27/2025 x17 The Zoo Fitness 538 E Woolbright Rd #200, Boynton Beach, FL 33435 2/15/2025 x18 Blue Heart Health Care 709 Federal Highway, Boynton Beach, Florida 33435 2/10/2025 x19 4 Reel Services 332 W Boynton Beach Blvd Suite 1, Boynton Beach, FL 33435 2/5/2025 x20 Art Sea Living 112, #7, S Federal Hwy, Boynton Beach, FL 33435 2/3/2025 x21 Capt. Frank's Seafood435 W Boynton Beach Blvd. Boynton Beach FL, 334352/3/202522 Café Frankies 640 E Ocean Ave, Boynton Beach, FL 33435 2/2/2025 x23 South Florida Marine 725 N Federal Hwy, Boynton Beach, FL 33435 1/27/2025 x24Benvenuto Restaurant & Banquet 1730 N Federal Hwy Boynton Beach FL, 334351/20/202525 The Joint 520 E Woolbright Rd, Boynton Beach FL 33435 1/19/202526 Kabuki 321 E Woolbright Rd, Boynton Beach, FL 33435 1/12/2025 x27 Common Grounds Brew & Roastery 101 S Federal Hwy, Boynton Beach, FL 33435 1/12/2025 x28 ManCave 1503 S Federal Hwy, Boynton Beach, FL 33435 12/30/2024 x29 Ace Hardware 510 E Boynton Beach Blvd, Boynton Beach FL, 33435 12/30/2024 x30 Tiki Taxi 735 Casa Loma Blvd, Boynton Beach FL 33435 12/15/2024 x31 Hamr Time Marina, Boynton Beach, FL 33435 12/15/202432 Safai 400 N Federal Hwy, Boynton Beach, FL 12/12/2024 x33 Hurricane Alley 529 E Ocean Ave, Boynton Beach, FL 33435 12/7/2024 x 1838 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP34 Design Stop 1505 Federal Hwy, Boynton Beach, FL 33435 12/5/202435 Café Prelude 312 N. Federal Hwy, Boynton Beach, FL 33435 12/4/2024 x36 The Butcher & The Bar 510 E Ocean Ave, Unit 101, Boynton Beach FL 33435 12/4/2024 x37 Clear Copy 1304 N Federal Hwy, Boynton Beach FL, 33435 11/20/2024 x38 ROK Prime Korean BBQ 1727 S Federal Hwy, Boynton Beach, FL 33435 11/15/2024 x39 Penn Nails and Spa 640 E Ocean Ave Suite 17, Boynton Beach FL 33435 10/10/2024 x40 Bond Street Market 308 N. Federal Hwy, Boynton Beach, FL 33435 10/5/2024 x41 Marina Café 100 NE 6th St #108, Boynton Beach, FL 33435 10/2/2024 x42 A1A Discount Beverage109 E Boynton Beach Blvd. Boynton Beach FL, 334358/20/202443 Guaca Go 500 Unit 106 E Ocean Avenue Boynton Beach FL 33435 8/10/2024 x44 Bon Zouti 1550 N Federal Hwy, Boynton Beach, FL 33435 8/3/202445 Driftwood 2005 S Federal Hwy, Boynton Beach, FL 33435 8/2/2024 x46 Hip Hip Furray1403 S Federal Hwy, Boynton Beach, FL 334358/2/2024 x47 Angel's Secret Inc. 640 E Ocean Ave #9, Boynton Beach, FL 33425 7/21/2024 x48 By Cycle 640 E Ocean Ave #21, Boynton Beach, FL 33435 7/21/2024 x49 NYPD Pizza 308 N. Federal Hwy, Boynton Beach, FL 33435 7/20/2024 x50 Boardwalk Italian Ice & Creamery 209 N Federal Hwy, Boynton Beach, FL 33435 7/5/2024 x51 CK Locksmith 301 SE 4th St, Boynton Beach, FL 33435 7/5/2024 x52 Fish Envy Marina, Boynton Beach FL 33435 6/3/202453 Gulfstream Boat Rental Marina, Boynton Beach, FL 33435 6/2/202454 South Florida Diving Headquarters 735 Casa Loma Blvd, Boynton Beach FL 33435 6/2/2024 x55 Two Georges 728 Casa Loma Blvd, Boynton Beach, FL 33435 6/2/202456 One Boynton 1351 S Federal Hwy, Boynton Beach, FL 33435 5/22/2024 x57 The Beauty and the Brow 501 SE 18th Ave, Boynton Beach, FL 334352/16/2024 x58 Tropical Island Restaurant 400 E Boynton Beach Blvd, Boynton Beach, FL 33435 2/10/2024 x59 East Ocean Café 412 E Ocean Ave, Boynton Beach, FL 33435 1/25/2024 x60 The Beauty Within 100 NE 6th Street #104, Boynton Beach, FL 33435 1/24/2024 x61 Tropical Smoothie 1025 Gateway Blvd, Boynton Beach FL, 33435 1/4/2024 x62 Front Door Detailing 422 W Industrial Ave, Boynton Beach, FL 33435 12/15/2023 x63 Fly, Flow Fitness 640 E Ocean Ave Boynton Beach FL 33435 12/8/2023 x64 Salon South Flow 1815 Federal Hwy. Boynton Beach, FL 33435 12/5/2023 x65 Sol Search Charters 735 Casa Loma Blvd, Boynton Beach FL 33435 11/12/2023 x66 Jackie's Grooming 640 E Ocean Ave Unit 18, Boynton Beach, FL 33435 9/7/2023 x 1839 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP67 Lighthouse Vapes 640 E Ocean Ave Unit 8, Boynton Beach, FL 33435 9/7/202368 Link Jewelry Inc. 640 E Ocean Ave, Boynton Beach, FL 33435 9/7/202369Endless Ups 639 E. Ocean Avenue7/13/202370 Genesis Community Health639 E. Ocean Ave Suite 4097/13/202371 Mark Januschewski639 e ocean ave #4027/13/202372 Moloney Securities Co. 639 e ocean ave 7/13/2023 x73 Saturn Street Music 639 e ocean ave #1097/13/202374 Steven E. Myott639 E. Ocean Ave suite 4037/13/202375 Strategic Legal Web639 E. Ocean Ave. Suite 201 7/13/202376 Veritas Legal Plan639 E Ocean Ave #2057/13/202377 Boynton Beach Boat Rental Marina,Boynton Beach FL 33435 6/2/202378 Miller Time Charter Marina, Boynton Beach, FL 33435 6/2/202379 AIRCOMO 800 NE 3rd street 5/18/202380 Boynton Auto Repair & Transmission 409 n railroad ave 5/18/202381 Hercules Roofing 421 NE 7th Ave 5/18/202382 Jireh Motorsport 403 NE 6TH AVE 5/18/202383 Leroy Affordable Paint and Body 817 b north railroad ave 5/18/202384 Lutheran Services Florida Head Start 909 NE 3rd St 5/18/202385 Mario Ferazzoli & Son 419 NE 4th Ave 5/18/202386 Meineke 319 E. Boynton Beach Blvd 5/18/2023 x87 Ocean Architectural 800 NE 3rd street 5/18/202388 One Stop Auto 502 NE 3rd Street 5/18/202389 Pioneer Auto Care 401 N. Railroad Avenue 5/18/202390 Pugh Pools, LLC 313 N. Railroad Avenue 5/18/202391 Seal Tile Plumbing 406 ne 3rd ave 5/18/202392 Taylor pneumatic Tool Company 505 n railroad ave 5/18/202393 USA Collision Center of Boynton Beach905 N. Railroad Avenue 5/18/202394 Welch Plastering 716 NE 3rd street 5/18/202395 Zuccala's Wrecker Service 905 n railroad ave 5/18/202396 The Seed 1600 N Federal Hwy, Boynton Beach FL 33435 5/15/2023 x97 Sir Cutz Barbershop 558 E Woolbright Rd, Boynton Beach, FL 33435 5/6/2023 x98 Shiny Touch 1550 N Federal Hwy # 15, Boynton Beach, FL 33435 2/7/2023 x99 Amar Bakery & Market 1600 N Federal Hwy #15, Boynton Beach, FL 33435 2/5/2023 x 1840 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP100 Detail's Design 640 E Ocean Ave Unit 1, Boynton Beach, FL 33435 1/28/2023101 Great Day Charter Marina, Boynton Beach, FL 33435 12/20/2022102 Boynton Beach Parasailing Marina, Boynton Beach FL 33435 12/10/2022 x103 Truist1725 S Federal Hwy, Boynton Beach, FL 3343512/1/2022 x104 500 Ocean Café 510 E Ocean Ave #107, Boynton Beach, FL 33435 9/7/2022 x105 E&C's Beauty Salon 500 Suite 102 E Ocean Ave, Boynton Beach FL 33435 9/7/2022 x106 Nicholson Muir Meats 480 E Ocean Ave, Boynton Beach, FL 33435 7/27/2022 x107 The Blossom Shoppe 402 E Ocean Ave Boynton Beach FL 33435 7/27/2022 x108 Benchmark Painting 432 W Boynton Beach Blvd, Boynton Beach, FL 33435 6/17/2022 x109 AT&T 538 E Woolbright Rd #205, Boynton Beach, FL 33435 6/14/2022110 Eye & Ear 514 E Woolbright Rd, Boynton Beach, FL 33435 6/14/2022111 Billable Hours Charter Marina, Boynton Beach FL 33435 6/6/2022112 Baciami 1415 S Federal Hwy Boynton Beach FL 33435 4/22/2022 x113 Slouvaki Fast 305 E Woolbright Rd, Boynton Beach, FL 33435 4/22/2022114 Tipsy Nail Salon 1515 S Federal Hwy, Boynton Beach Fl 33435 4/22/2022115 Tokio Ramen 1351 S Federal Hwy, Boynton Beach, FL 33435 4/22/2022 x116 Tsunami Subs 309 E Woolbright Rd, Boynton Beach, FL 33435 4/22/2022117 JMM Services 640 E Ocean Ave #15, Boynton Beach FL, 33435 3/25/2022 x118 Property Damage Consultants125 E Boynton Beach Blvd. Boynton Beach FL, 334353/15/2022119 Shearology 100 NE 6th St #103, Boynton Beach, FL 33435 3/15/2022120 Pro Day Fitness 1550 N Federal Hwy, Boynton Beach, FL 33435 2/21/2022121 Your CBD Store 1600 N Federal Hwy #9, Boynton Beach, FL 33435 2/21/2022 x122 Allstate Insurance Company1260 S. Federal Highway, #1021/20/2022123 Aubrey K. Ewing, PH.D. & Associates, P1230 S. Federal Highway1/20/2022124 Bravo Security School, LLC400 S. Federal Highway, Ste. 4121/20/2022125 Complete Home Care Registry, Inc. 1210 S. Federal Highway, Ste. 2021/20/2022126 Crystal Grams400 S. Federal Highway, Ste. 3891/20/2022127 Exit Realty Partners639 E. Ocean Avenue, Ste 1091/20/2022128 Funding Unlimited Group, LLC.1260 S. Federal Highway, #2021/20/2022129 Hospital Without Walls 1200 S. Federal Highway, Unit 3011/20/2022130 Joseph C. Gretzula D.O., F.A.A.D.100 N.E. 6th Street, Ste. 1041/20/2022131 Mark Januschewski P.A. 639 E. Ocean Avenue, Unit 4021/20/2022132 Morris Wealth Advisory Group1260 S. Federal Highway, Unit. 2011/20/20221841 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP133 Pathways To Prosperity 639 E. Ocean Avenue, Unit 1011/20/2022134 Taylor, Gratton & Beaumont, LLC1260 S. Federal Highway, #1011/20/2022135 The Hair Garden, Inc. 1100 S. Federal Highway, Ste. 81/20/2022136 Thomas Corwell, LMHC, LMFT, Cht1200 S. Federal Highway, Unit 3011/20/2022137 Town Square Dentistry1250 S. Federal Highway, Ste. 1011/20/2022138 Tuttle Isdith Architecture1100 S. Federal Highway, Ste. 21/20/2022139 Veraco 639 E. Ocean Avenue, Ste 3051/20/2022140 Wiiliam Manikas639 E. Ocean Avenue, Ste 3071/20/2022141 Studio Glo Salon & Spa 413 S Federal Hwy, Boynton Beach, FL 33435 11/30/2021 x142 Crown Wine & Spirits 532 E Woolbright Rd, Boynton Beach FL 33435 10/22/2021143 Sol Oasis 408 East Ocean Ave Unit 2, Boynton Beach, FL 33435 10/22/2021144 The Mortgage Firm 319 E Woolbright Rd, Boynton Beach FL 33435 9/30/2021 x145 Deck & Drive 605 NE 3rd St, Boynton Beach, FL 33435 6/30/2021 x146 Le Petit Pain 410 E Boynton Beach Blvd, Boynton Beach, FL 33435 6/30/2021 x147 Boca Babes 100 NE 6th St, Boynton Beach, FL 33435 6/17/2021 x148 Boynton Diner 500 E Woolbright Rd, Boynton Beach, FL 33435 6/17/2021149 The Qure Barber 454 N Federal Hwy, Boynton Beach, FL 33435 6/17/2021 x150 Boulevard Paints 618 E Ocean Ave, Boynton Beach, FL 33435 6/14/2021151 Original Barber 404 E Ocean Ave, Boynton Beach, FL 33435 6/14/2021152 Posh Properties 100 S Federal Hwy, Boynton Beach, FL 33435 6/14/2021 x153 DIY 524 E Woolbright Rd, Boynton Beach, FL 33435 6/2/2021154 Fancy Nails 564 E Woolbright Rd, Boynton Beach, FL 33435 6/2/2021155 Pet Supermarket 570 E Woolbright Rd, Boynton Beach FL 33435 6/2/2021156 Pure Barre 522 E Woolbright Rd, Boynton Beach, FL 33435 6/2/2021157 Sage Dental 556 E Woolbright Rd, Boynton Beach, FL 33435 6/2/2021158 Colonial Vet 2235 N Federal Hwy, Boynton Beach, FL 33435 3/18/2021 x159 Inlet Inn Motel1900 N Federal Hwy. Boynton Beach FL, 334353/18/2021160 New Inspiration Beauty Salon Inc.1896 N Federal Hwy. Boynton Beach FL, 334353/18/2021161 Powerhouse Financial, LLC 200 Knuth Rd., Ste 236,  Boynton Beach FL, 33435 3/18/2021162 Shell Gateway2360 N Federal Hwy. Boynton Beach FL, 334353/18/2021163 The Source 561 Multimedia1848 N Federal Hwy. Boynton Beach FL, 334353/18/2021164 Caribbean Meat Market530 Gateway Blvd. Boynton Beach FL, 334353/11/20211842 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP165 Chez Elda 544‐4 E Gateway Blvd. Boynton Beach FL, 334353/11/2021166 E&M Fashion Sultry, Inc. 2420 NE 2nd Ct Boynton Beach FL, 33435 3/11/2021167 Fortune Hair & AccessoriesE Gateway Blvd. Boynton Beach FL, 334353/11/2021168 KWIK Stop524 E Gateway Blvd. Boynton Beach FL, 334353/11/2021169 Planet the Barber544‐6 East Gateway Blvd. Boynton Beach FL, 334353/11/2021170 S&S Stop & Shop566 E Gateway Blvd. Boynton Beach FL, 334353/11/2021171 Mak Lash & Beauty 618 E Ocean Ave, Boynton Beach, FL 33435 2/9/2021172 Catholic Charities/State of Florida Dep212 E Boynton Beach Blvd Boynton Beach FL, 334352/5/2021173 Chevron 217 N Federal Hwy, Boynton Beach, Fl 33435 2/5/2021174 CVS 301 N Federal Hwy, Boynton Beach, Fl 33435 2/5/2021175 DJ's Grill 301 E Boynton Beach Blvd, Boynton Beach, FL 33435 2/5/2021176 DM Traffic School 409 E Boynton Beach Blvd, Boynton Beach, FL 33435 2/5/2021177 Express Food Beverage 103 Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021178 First Baptist Boynton301 N Seacrest Blvd. Boynton Beach FL, 334352/5/2021179 Insurance World407 W Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021180 Main Street Car Wash 201 E Boynton Beach Blvd, Boynton Beach, FL 33435 2/5/2021181 Manbo Vivi/St. Jacques Botanica109 E Boynton Beach Blvd. Ste. K Boynton Beach FL, 334352/5/2021182 Meineke 319 E Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021183 My Future, Inc.213 W Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021184 One Plant 202 E Boynton Beach Blvd, Boynton Beavh, FL 33435 2/5/2021185 Oriental Asclepius, Inc. 209 W Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021186 Randall L. Ebling, D.C, P.A.209 W Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021187 Superb Signs & Stamps301 NW 1st Street Boynton Beach FL, 334352/5/2021188 Ti Manmi's Kitchen306 E Boynton Beach Blvd. Boynton Beach FL, 334352/5/2021189 Vapor Rocket 416 E Boynton Beavh Blvd, Boynton Beach, FL 33435 2/5/2021190 Sea Mist 700 Casa Loma Blvd, Boynton Beach, FL 33435 2/1/2021 x191 AAA Mobile Auto Repair 302 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021192 Canna Wellness Center 432 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021193 Gator Agent 444 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021194 Imperial Insurance 322 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021195 LCS Master Construction 322 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021196 Lighthouse Academy & Child Center 202 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021197 Local Services 140 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021 1843 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP198 Premier Medical Center 326 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021199 The Inn 480 W Boynton Beach Blvd, Boynton Beach, FL 33435 1/29/2021200 The Club at Boynton Beach 623 S Federal Hwy, Boynton Beach FL, 33435 12/8/2020201 Air‐tight LLC 1300 W Industial Ave #103, Boynton Beach, FL, 33435 11/6/2020202 Alenac Aluminum & Glass 1300 W Industrial Ave #104, Boynton Beach FL, 33435 11/6/2020203 All Makes Motorcycle Shop 1370 W Industrial Ave #119, Boynton Beach FL, 33435 11/6/2020204 Aluminum Glass & Door Inc 1300 W Industrial Ave #102, Boynton Beach FL, 33435 11/6/2020205 Anzo Headquarters 1300 W Industrial Ave #105, Boynton Beach FL, 33435 11/6/2020206 Blue Stone Marble & Granite 1370 W Industrial Ave #114, Boynton Beach FL, 33435 11/6/2020207 Bob Irsay Irrigation Design 1370 W Industial Ave #106, Boynton Beach FL, 33435 11/6/2020208 Home Racer 1300 W Industrial Ave #108, Boynton Beach FL, 33435 11/6/2020209 HW Studio 1370 W Industrial Ave #108, Boynton Beach FL, 33435 11/6/2020210 MOVE Fitness 1330 W Industrial Ave #102, Boynton Beach FL, 33435 11/6/2020211 Palm Beach Dyno 1330 W Industrial Ave #101, Boynton Beach FL, 33435 11/6/2020212 RareFab 1330 W Industrial Ave #105, Boynton Beach FL, 33435 11/6/2020213 The Furniture Farm 1370 W Industrial Ave #114, Boynton Beach FL, 33435 11/6/2020214 The Owen Group 1300 W Industrial Ave #101, Boynton Beach FL, 33435 11/6/2020215 Total Power Electric 1330 W Industrial Ave #107, Boynotn Beach FL, 33435 11/6/2020216 Watson Upholstery 1370 W Industial Ave #104, Boynton Beach, FL 33435 11/6/2020217 Starbucks Coffee 1620 S Federal Hwy Suite A, Boynton Beach FL, 33435 11/5/2020218 Orci Counseling Center 1080 S Federal Hwy, Boynton Beach FL, 33435 11/4/2020 x219 AA Alpine Storage 860 W Industrial Ave, Boynton Beach, FL 33435 11/2/2020220 Clean Air Experts 1040 W Industrial Ave #1, Boynton Beach, FL 33435 11/2/2020221 Cosmos Muffler House 1240 W Industrial Ave #1, Boynton Beach, FL 33435 11/2/2020222 Euro Auto Service 1220 W Industrial Ave, Boynton Beach, FL 33435 11/2/2020223 Ocean Architechtural Sheet Metal 870 W Industrial Ave, Boynton Beach, FL 33435 11/2/2020224 Ocean Outboards Inc. 1240 W Industrial Ave #7, Boynton Beach, FL 33435 11/2/2020225 Southern Pine Lumber 1100 W Industrial Ave, Boynton Beach, FL 33435 11/2/2020226 The Paving Lady 1000 W Industrial Ave, Boynton Beach, FL 33435 11/2/2020227 Vermeer Southeast 1060 W Industrial Ave, Boynton Beach, FL 33435 11/2/2020228 Vincent & Sons Landscaping 1040 W Industrial Ave #3, Boynton Beach, FL 33435 11/2/2020229 Xtreme Performance Marine 1040 W Industrial Ave #8, Boynton Beach, FL 33435 11/2/2020230 Apex Network Therapy 906 S Federal Hwy Suite B, Boynton Beach FL, 33435 10/19/2020 x 1844 Attachment I BBCRA Area Businesses and SMOP Businesses Quarterly Contact LogBusiness Address Last Contact Registered in SMOP231 Expert Closet & Door 632 E Ocean Ave, Boynton Beach FL 33435 9/20/2020232 Chinatown Chinese 534 E Woolbright Rd, Boynton Beach, FL 33435 9/16/2020233 Oyer, Macovik, and Associates 511 E Ocean Ave, Boynton Beach, FL 33435 9/10/2020234 Reed, Griffith & Moran 630 E Ocean Ave, Boynton Beach, FL 33435 9/10/2020235 Shack by the Tracks 1017 N Federal Hwy, Boynton Beach, FL 33435 8/28/2020236 Chiropractor 112 S Federal Hwy, Boynton Beach, FL 33435 8/16/2020237 Tropical Troy's 640 E Ocean Ave Unit 6, Boynton Beach, FL 33435 8/15/2020238 Underwater Explorers 728 Casa Loma Blvd, Boynton Beach, FL 33435 8/7/2020 x239 Bond & Smolder Bakery 1622 S Federal Hwy, Boynton Beach, FL 33435 7/24/2020240 Flora Beauty Supply 1600 N Federal Hwy, Boynton Beach FL 33435 7/2/2020 x241 Prime Catch 700 E Woolbright Rd, Boynton Beach, FL 33435 7/2/2020242 Stretch Zone 311 E Woolbright Rd, Boynton Beach, FL 33435 7/2/2020243 Inlet Inn Motel 1900 N Federal Hwy, Boynton Beach, FL 33435 6/1/2020 x244 Ridgeway Plumbing 640 Industrial Ave. Boynton Beach FL 33435 10/19/2019 x245 Terre Noire Properties 100 NE 6th St, Boynton Beach, FL 33435 9/5/2019 x246 Sushi Simon 1614 S Federal Hwy, Boynton Beach, FL 33435 6/2/2019247 Florida Native Bait & Tackle 1824 Federal Hwy, Boynton Beach FL 33435 5/28/2019248 JCS Realty Corperation 802 N Federal Hwy Boynton Beach FL 33435 5/28/2019 x249 The Kings Learning Center 101 NE 5th Ave, Boynton Beach, FL 33435 4/28/2019 x250 Boynton Beach Stretch 311 E Woolbright Rd, Boynton Beach, FL 33435 1/10/2019251 Boynton Beach Art District W Industrial Ave, Boynton Beach FL 33435 12/10/2018252 Bank of America 574 E Woolbright Rd, Boynton Beach FL 33435 11/27/2018253 Easy Pedestal 817 N Railroad Ave Boynton Beach FL 33435 10/1/2018254 Tropical Island Restaurant 400 E Boynton Beach Blvd, Boynton Beach, FL 33435 8/23/2018255 Crystal Garden 2610 N Federal Hwy, Boynton Beach, FL 33435 8/13/2018256 Podiatry 112 S Federal Hwy, Boynton Beach, FL 33435 8/6/2018257 Travel Agent 112 S Federal Hwy, Boynton Beach, FL 33435 8/6/2018258 Cooperative Real Estate 420 W Boynton Beach Blvd, Suite 15 Boynton Beach FL 33435 7/24/2018 x259 Healing Hearts 222 W Boynton Beach Blvd, Boynton Beach, FL 33435 7/23/2018 x260 Miller Land Planning 508 E Boynton Beach Blvd, Boynton Beach FL 33435 7/20/2018 x261 Allstate 622 N Federal Hwy, Boynton Beach, FL 33435 5/4/2018262 Hour Cucina 411 S Federal Hwy, Boynton Beach Fl 33435 2/2/2018 x263 Woolbright Petroleum LLC Liberty 1601 S Federal Hwy, Boynton Beach, FL 33435 1/15/2018 x 1845 Attachment II One-on-one Social Media Assistance The BBCRA SMOP program continued one-on-one assistance for local businesses. The program assisted The Crown Spa Skin Experts in establishing an online presence on Google, and their website. As a new business, this has helped them with public awareness in the Boynton Beach Community. Google 1846 Website 1847 The BBCRA SMOP program continued a program focused on creating reels for our local businesses to highlight and spread awareness about new and existing businesses in the BBCRA Area. This has proven to be extremely successful with peak engagement on video content for this quarter. 4 Reel Services 1848 Custom Truss 1849 Johnny Mangos 1850 As always, the SMOP program assisted the BBCRA Area based businesses by sharing seasonal and holiday specials. These are some of the most engaged-with posts on the BBCRA social media pages. 1851 1852 Attachment III Boynton Beach Insider Blog Posts January 2025 through March 2025 July 22 , 2022 1/31/25 Bloom With Love This Valentine’s Day at The Blossom Shoppe Florist Valentine’s day is the perfect time of the year to show the ones closest to your heart just how much you love them! And what better way to show you care than with a fresh bouquet from the Blossom Shoppe Florist? Located at 402 East Ocean Avenue, this local family-owned florist specializes in delivering joy by the bunch, offering beautiful floral arrangements and thoughtful gifts that will make your Valentine’s Day truly special. Whether you’re sending a classic bouquet of red roses or something more unique, their florists are ready to help you find the perfect flowers to express your affection. Not sure what to choose? Let them surprise you with their Designer’s Choice option, where their team handcrafts a one-of-a-kind arrangement just for you. They also offer a variety of unique gifts to complement your flowers. From plush stuffed animals and balloons to gourmet baskets and scented candles, there’s something for everyone. With easy online ordering and local delivery in Boynton Beach, sending your love has never been simpler. Plus, they offer same-day delivery for local orders, so your gift will arrive just in time. This Valentine’s Day, let Blossom Shoppe Florist help you bloom with love. Visit their website or call them at (561) 732-3722 to place your order today! 1/31/25 Savor Handcrafted Mexican Flavors at Paloma Restaurant If you’re craving authentic Mexican cuisine, Paloma Mexican Restaurant is your next go-to spot. Located at 510 East Ocean Avenue, Suite 105, Paloma offers a great dining experience, where every dish brings the bold flavors of Mexico straight to your plate. From sizzling fajitas to fresh tacos, every dish at Paloma is crafted with fresh ingredients and traditional flavors. But it’s not just about the food, Paloma offers a one- of-a-kind dining experience with live music and a Mariachi Hour, perfect for adding some rhythm to your meal. It’s the perfect spot to relax, enjoy great food, and soak in the lively energy of the restaurant. 1853 Join the BBCRA as we officially welcome Paloma to Downtown Boynton Beach for their Grand Opening, Ribbon Cutting, and Taco Tuesday Festivities on February 25, 2025, from 5:00 PM to 6:30 PM! Paloma is open daily, with hours from 4:00 PM to 9:00 PM Monday through Thursday, 4:00 PM to 10:00 PM on Fridays, and 12:00 PM to 10:00 PM on Saturdays. Sunday service runs from 12:00 PM to 9:00 PM, so you can enjoy your favorite dishes no matter when hunger strikes. You can also enjoy their delicious food through UberEATS. For more information, visit their website or give them a call at (561) 336-4457. Come for the food, stay for the fun— Paloma Mexican Restaurant is the best of Mexico right here in Boynton Beach. Follow them on Instagram for updates, events, and more! 1/31/25 The Bungalow Bar & Grill: The New Hangout Spot in Boynton Beach Are you looking for a laid-back spot to relax with friends, enjoy great food, drink tasty cocktails, and listen to live music? The Bungalow Bar & Grill is the place to be! Located at 511 NE 4th Street, this vibrant bar and grill offers the perfect atmosphere for a night out. The Bungalow’s menu is packed with delicious options, making it the perfect place for a casual bite or a full meal. Their happy hour is top tier, with discounted beers, well drinks, premium drinks, and food. Add in the friendly service, and it’s clear why The Bungalow is quickly turning into a local favorite in Eastern Boynton Beach. Thinking about hosting a special event? The Bungalow provides an incredible venue for all occasions, from corporate events to milestone celebrations or intimate gatherings. Their aesthetic setting and exceptional service will ensure your event is one to remember. The Bungalow is open Sunday from 12:00 PM to 11:00 PM, Wednesday and Thursday from 4:00 PM to 11:00 PM, and Friday and Saturday from 12:00 PM to 1:00 AM. Be sure to stop by and enjoy the vibrant atmosphere or give them a call at (561) 934-3553 to learn more. Follow them on Instagram and Facebook for updates, events, and more! 1854 1/31/25 10 Unique Valentine’s Experiences in Boynton Beach Valentine’s Day is just around the corner, and if you’re looking to make it special, Boynton Beach has you covered. Whether you’re planning a romantic date with your significant other or celebrating love with friends, Boynton Beach offers a variety of fun, unique experiences. Here are 10 unforgettable ways to enjoy Valentine’s Day: 1. Picnics in Paradise: Luxury Pop-Up Picnics Imagine this: A luxury picnic setup on the beach with the gentle sound of waves, the sunset in the background, and delicious treats waiting for you. Picnics in Paradise takes care of everything, from the location to the setup, so all you need to do is show up. Whether it’s a beachside picnic or a cozy backyard setup, this is the perfect way to enjoy a relaxed yet luxurious date. Visit picnicsinpara.com for more information. 2. Hot Yoga at The Zoo Health Club For couples who like to stay active together, why not try something that’s both fun and challenging? The Zoo Health Club has recently introduced new hot yoga classes— perfect for relaxing and rejuvenating together. Stretch, breathe, and let go of tension as you and your partner share a peaceful, healing experience. Book your class at zoogym.com/boyntonbeach. 3. Glass Art at Fused in Glass Unleash your creativity at Fused in Glass, where you can take glass fusing and mixed media classes. Whether you are beginners or seasoned pros, these classes are a great way to create something beautiful together. You can even make glass jewelry to commemorate your special day! If you prefer a private experience, you can book a special group class tailored to you and your partner. View their class calendar at fusedinglass.com 4. Fishing Adventure with Chips Ahoy Charters 1855 For those looking to spend a day on the water, Chips Ahoy Charters offers unforgettable fishing trips from the Boynton Harbor Marina. Led by Captain Chip Sheehan and his experienced crew, you’ll have a blast fishing in the local waters. Whether you’re seasoned anglers or newbies, Captain Chip will ensure you have a memorable experience. Catch a fish of a lifetime while enjoying each other’s company. For booking information visit chipsahoycharters.com. 5. Couples Mani-Pedi at Penn Nails A couples spa day is always a great way to unwind, and Penn Nails in Boynton Beach offers just that. Get pampered together with a relaxing mani-pedi, where you can choose from a variety of colors and designs. Whether you’re opting for something bold or a more natural look, it’s the perfect way to treat yourselves. Call to make an appointment at (561) 572-2282. 6. Romantic Blooms from Johnny Mangos Nothing says romance like fresh flowers. Johnny Mangos offers beautiful floral arrangements and garden décor, making it easy to brighten up your space or give a gift that will last. Choose from stunning bouquets, orchids, and roses that will make your Valentine’s Day bloom with beauty. Take a peek at their offerings at johnnymangos.com. 7. International Kinetic Art Experience If you’re looking to do something unique and artsy, head to the 2025 International Kinetic Art Experience in Downtown Boynton Beach on February 1st and February 2nd. This outdoor and indoor exhibit features kinetic art installations that move and change with time. With over 30 international artists showcasing their work, you’ll have plenty of eye-catching displays to explore. Plus, the event includes family-friendly activities, live music, food trucks, and more. For an added bonus, be sure to check out the artNEST Paint Throw, where you can get messy and create art by throwing paint onto a community canvas. Learn more at boynton-beach.org/351/Kinetic-Boynton-Beach. 1856 8. Galentine’s on the Tiki Taxi Who says Valentine’s Day is just for couples? Grab your girlfriends and head to Tiki Taxi for a fun Galentine’s Day celebration. Located in the Boynton Harbo Marina, Tiki Taxi offers scenic cruises, music, and a bar, making it the perfect spot for a girls’ day out. On Thursdays, ladies 21+ ride for free, so bring your crew and enjoy a special day on the water. Visit tikitaxiandcruises.com to learn more. 9. Hand-Dipped Chocolate Delights from Schuerer’s Indulge in something sweet this Valentine’s Day from Schuerer’s Hand Dipped Chocolates. Local owned and crafted with care, their hand-dipped chocolate-covered strawberries are a delicious treat you and your partner can enjoy together. Order ahead and surprise your loved one with this irresistible treat. Visit scheurerschocolate.com to order today. 10. Paddle Away Sports Adventure For an active and fun date, Paddle Away Sports offers paddleboard and kayak rentals right in Boynton Beach at Harvey E. Oyer Park. Spend the day on the water, enjoying the beautiful coastline. Whether you prefer paddleboarding, kayaking, or even snorkeling, the experience will be a perfect way to connect with your loved one while exploring the serene waters of South Florida. For more details, visit paddleawaysports.com. Bonus: Extra Special Touches If you’re looking to add something extra special, consider combining a few of these experiences. For example, you could start with a relaxing couples yoga session, followed by a picnic on the beach, then top it off with a scenic Tiki Taxi ride at sunset. No matter how you decide to spend your day, Boynton Beach offers a unique array of experiences that are sure to make your Valentine’s Day unforgettable. Learn more about other businesses located in eastern Boynton Beach on our business directory. Make this Valentine’s Day one to remember by indulging in these local gems, each offering a unique way to celebrate love and connection. Whether you’re looking to relax, 1857 be creative, or go on an adventure, Boynton Beach has something for every couple while supporting local businesses! 2/28/25 Set Sail into Sunshine: Rent a Boat at the Boynton Beach Harbor Marina While the rest of the country is snowed in, Boynton Beach is living the dream with this perfect weather, making it the ideal place to escape the winter freeze. If you are looking for the best way to enjoy the warm temperatures and clear skies, there’s no better option than renting a boat and hitting the water. The Boynton Harbor Marina is the perfect spot to launch your boating adventure. The Marina is home to several boat rental companies, offering a wide variety of boats for you to choose from. They are known for their friendly service and well-maintained boats, ensuring a smooth and enjoyable experience on the water. The marina’s convenient location also makes it easy to access the waterways. Boynton Beach Jet Ski & Boat Rentals 700 Casa Loma Blvd. Slips #2-7 boyntonboatrentals.com (561) 735-2149 Gulfstream Boat Club 735 Casa Loma Blvd. Slips #8-9 gulfstreamboatclub.com (561) 865-7797 Freedom Boat Club 735 Casa Loma Blvd. Slip #18 freedomboatclub.com (561) 865-7797 Take advantage of this great weather and make the most of your time in Boynton Beach, rent a boat today! 1858 2/28/25 Custom Truss: Decades of Excellence in Wooden Truss Manufacturing Founded in 1978 by Howard Brennan, Custom Truss has been a trusted name in wooden truss manufacturing for over four decades. After Iva Kutlova and her partner took ownership in 2002, Iva assumed full control in 2007, leading the company to continued success. As one of Florida’s oldest truss manufacturers, they proudly serve South Florida and the Caribbean with custom solutions for projects of all sizes. Their team brings over 50 years of combined design and engineering experience, while their production staff boasts 150 years of expertise. With decades of knowledge and a commitment to quality, Custom Truss is ready to deliver the trusses you need, when you need them. Take a look at this short video for a glimpse inside their production facility in Boynton Beach: https://www.facebook.com/BoyntonBeachCRA/videos/551986434533753 For more information, visit: customtrussllc.com. 2/28/25 4 Reel Services: Your Local Fishing Reel Repair & Parts Supplier 4 Reel Services specializes in repairing and servicing all types of fishing reels, including saltwater and freshwater reels, electric reels, power assist reels, and downriggers. Their skilled technicians are experts at maintaining everything from modern reels to vintage classics, ensuring they last longer and perform better. Proper care is key—after every use, clean your reel and service it at least once a year to avoid damage from old grease, salt, and grit. 4 Reel Services offers over 150,000 parts in stock, and if you can’t find a part online, email them at ReelParts@4ReelServices.com with your model details, and they can help you find it. Additionally, they offer a custom cleaning product that helps keep your reel in top condition, ensuring it lasts a lifetime. Choose 4 Reel Services for expert repairs, parts, and maintenance to keep your gear performing at its best! For more information, visit their website 4reelservices.com, and check out this short video: https://bit.ly/41uEwkV 2/28/25 Relax & Unwind: Nails & Co. Salon and Spa Now Open in Boynton Beach! Are you looking for a place to pamper yourself and take a break from your busy schedule? The brand new Nails & Co. Salon and Spa is officially open and ready to give you the relaxing experience that you deserve! Located at 510 East Ocean Avenue, Unit 1859 104, Boynton Beach, FL 33435, this charming salon will quickly become your go-to place for a fresh manicure and pedicure. Nails & Co. offers a wide range of services from a variety of nail care services, including manicures, five types of pedicures, intricate nail art and custom design to waxing, eyelash extensions, and facials. No matter what treatment you choose, their team of skilled technicians is committed to delivering high-quality service. They make sure each client feels comfortable, pampered, and relaxed throughout the entire experience. If you find yourself in eastern Boynton Beach and are looking for a place to unwind, book your appointment today at Nails and Co. and experience top-notch nail care and beauty services for yourself! With great service and a convenient location, it’s a new must-visit spot in town. 1860 Attachment IV BBCRA Social Media Top Business Promotional Posts (1/1/25 - 3/25/25) 1861 1862 1863 Overall Facebook and Instagram interactions trended upward this quarter, while garnishing slightly less engagement than last quarter. Instagram outperformed Facebook this quarter and attracted 323 new followers. 1864 BBCRA Social Media Posts (1/1/25 - 3/25/25) The following is a list of all BBCRA social media posts for the 2nd Quarter. The BBCRA social media posts consist of a variety of BBCRA events and projects and programs, original content with information about BBCRA businesses, and shared posts from BBCRA businesses. In general, additional paid boosts or advertisement are used to highlight a special campaign or event in order to reach a broader audience. As a result, these promotions brings a higher number engagement. An alternative to paying for the paid advertisement is to vary the content of the post by using videos, trivia, contests, etc. in addition to the still photos or images. This quarter's social media data indicates: • Reels featuring our live ribbon cutting events performed best this quarter. • Instagram outperformed Facebook for the first time this quarter. This shows we are reaching a new & different audience with our content. • Posts with attractive photos also performed well. 1865 Post Content Date Reach Engagement 1866 Post Content Date Reach Engagement 1867 Post Content Date Reach Engagement 1868 Post Content Date Reach Engagement 1869 Post Content Date Reach Engagement 1870 Post Content Date Reach Engagement 1871 Post Content Date Reach Engagement 1872 Post Content Date Reach Engagement 1873 Attachment V BBCRA Facebook 2025 2nd Quarter Compared to 2025 1st Quarter The graph below shows an increase in total in both views and link clicks over the past 90 days. This quarter the largest increase was seen on the BBCRA Instagram page, likely due to the increase in video content. The graph below shows a decrease in number of followers but a 100% increase in engaged followers. This means more people are interacting with the BBCRA ’s content, rather than passively following the page. 1874 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: June 10, 2025 CRA PROJECTS IN PROGRESS AGENDA ITEM 16.E SUBJECT: Rock the Marina Recap SUMMARY: ROCK THE MARINA RECAP The free business promotional event took place on June 7th from 2:00 PM to 7:00 PM at the Boynton Harbor Marina. The event featured live music from Paul Anthony & The Reggae Souljahs and a variety of family-friendly activities. Attendees were encouraged to dine or order takeout from the restaurants located at the Marina. Attendees were encouraged to visit with the exhibiting businesses, vendors, and community partners. Driftwood offered cooking demonstrations during the activation. A Lionfish Derby was promoted to activate the scuba diving charters at the Marina. A Fishing Extravaganza was promoted to activate the fishing charters at the Marina. Throughout the event Boynton Beach Bucks vouchers were distributed for the Marina Month promotion, which will run throughout the month of June. 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 Neighborhood News - One 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 B). Cost: $465 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 1875 •Exhibits A - G C). Cost: $87.50 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 D). Cost: $2,000 Street Signs - Custom street signs were designed and installed at various locations throughout Boynton Beach to promote the event (see Exhibit E). Cost: $1,815 Billboard - The event was promoted on the billboard located on I-95 and Gateway Boulevard (Exhibit F). Cost: $0 Blog - A informational blog was published to BoyntonBeachInsider.com and promoted via a paid social media ad (Exhibit G). Cost: $250 FISCAL IMPACT: FY 2024-2025 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 1876 Exhibit A – Coastal Star 1877 Exhibit B – Neighborhood News 1878 Exhibit C – Posters 1879 Exhibit D – Social Media 1880 1881 Exhibit E – Street Signs 1882 Exhibit F – Billboard Exhibit G – Blog 1883