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Agenda 09-09-25
1.Call to Order 2.Invocation 3.Pledge of Allegiance 4.Roll Call 5.Agenda Approval 6.Legal 7.Informational Items and Disclosures by Board Members and CRA Staff: 8.Information Only A.Semi-Annual Progress Report for the Development Agreement with Wells Landing Apartments, LLC d/b/a Heart of Boynton Shops (March 2025 - August 2025) B.Heart of Boynton Shops Project Update C.CRA Economic & Business Development Grant Program FY 2024-2025 Year End Report D.Social Media & Print Marketing Update E.Rock the Plaza at Ocean Plaza Recap F.Update on the Purchase of the 13 Parcel Assemblage located at 444 W. Boynton Beach Boulevard Community Redevelopment Agency Board Meeting Tuesday, September 9, 2025 - 6:00 PM City Hall Chambers, 100 E. Ocean Avenue and Online Meeting 561-737-3256 AGENDA REVISED 09/08/2025 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 9.Announcements and Awards A.Bon Appetit Boynton Beach Announcement B.2025 Florida Festivals & Events Association SUNsational Awards 10.Public Comments (Please note changes to the public comment section.) 11.Consent Agenda A.CRA Financial Report Period Ending August 31, 2025 B.Approval of the CRA Special Board Workshop Minutes for July 25, 2025 C.Approval of the CRA Board Meeting Minutes for August 12, 2025 D.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Boynton Beach Dentistry located at 1315 N. Federal Highway, Suite 100, Boynton Beach, FL 33435 E.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Beach House Boutique located at 1120 S. Federal Highway, Boynton Beach, FL 33435 F.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Trilogy Fitness MMA located at 1550 N. Federal Highway, Units 4-10, Boynton Beach, FL 33435 G.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Guaca Go located at 510 Ocean Avenue, Unit 106, Boynton Beach, FL 33435 H.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Driftwood located at 2005 S. Federal Highway, Boynton Beach, FL 33435 I.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Starfish Scuba located at 735 Casa Loma Boulevard, Boynton Beach, FL 33435 J.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to ArtSea Living located at 412 East Ocean Avenue, Unit 1, Boynton Beach, 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 three (3) minutes to comment on all items on the agenda; however, the Board retains the right to increase or decrease the three-minute limit prior to the start of public comment. 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. 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, 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. Speakers may be asked to state their name address for the record. Any person may provide written comment(s) to the Board prior to the Board meeting. 2 FL 33435 K.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to South Florida Mastercraft, located at 725 N. Federal Highway, Boynton Beach, FL 33435 L.Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Mancave for Men Boynton Beach, located at 1503 Federal Highway, Boynton Beach, FL 33435 M.Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $9,540 to Venasky Tailor Experience LLC located at 312 E. Boynton Beach Boulevard 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.Continued Discussion and Consideration of the Purchase of 670 Oak Street - REVISED 09/08/2025 B.Update from Pulte Home Company, LLC for the Cottage District Workforce Housing Project C.Presentation Regarding the CRA Owned Property Located at 211 E. Ocean Avenue - TABLED 07/08/2025 D.Continued Discussion and Consideration of the Future Use of 419 N. Seacrest Boulevard E.Continued Discussion and Consideration of Registration and Travel Expenses to Attend the Florida Redevelopment Association 2025 Annual Conference on October 14-17, 2025 in West Palm Beach, FL F.Continued Discussion and Consideration of Budget Funding Towards the Neighborhood Officer Program ("NOP") Sergeant Position G.Discussion and Consideration of the Adoption of "Exhibit A" to the Interlocal Agreement between the Boynton Beach CRA and the City of Boynton Beach for Funding Construction and Professional Services H.Continued Discussion and Consideration of Fiscal Year 2025-2026 Project Fund Budget 15.New Business A.Consideration of Resolution No. R25-02 Adopting the CRA Budget for Fiscal Year 2025-2026 B.Discussion and Consideration of Redevelopment Options for Infill Lots for Affordable Homeownership 3 C.Discussion and Consideration of the 2025 CRA Board Meeting Dates 16.Future Agenda Items A.Discussion and Consideration of Amending the 2016 Community Redevelopment Plan B.Update on Discussion and Consideration of the Request for Proposals for CRA Executive Director Services C.Update on Recruitment of Executive Director Candidates by S. Renee Narloch & Associates D.Discussion and Consideration of Redevelopment at 209 and 217 N. Seacrest Boulevard (USPS Site) E.Discussion and Consideration of the First Amendment to the Tax Increment Revenue Funding (TIRFA) for the Ocean One Project located at 114-222 N. Federal Highway F.Discussion and Consideration of the Request for Qualifications (RFQ) for Structural Services for CRA Owned Property Located at 211 E. Ocean Avenue G.Discussion and Consideration of Joint CRA Board and City Commission Meeting Dates for Fiscal Year 2025-2026 - November 2025 17.Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CRA. PLEASE CONTACT THE CRA, (561) 737-3256, AT LEAST 48 HOURS PRIOR TO THE PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ADDITIONAL AGENDA ITEMS MAY BE ADDED SUBSEQUENT TO THE PUBLICATION OF THE AGENDA ON THE CRA'S WEB SITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRA'S WEB SITE CAN BE OBTAINED FROM THE CRA OFFICE. 4 •Attachment I - Commercial Development Agreement •Attachment II - First Amendment to Development Agreement COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 INFORMATION ONLY AGENDA ITEM 8.A SUBJECT: Semi-Annual Progress Report for the Development Agreement with Wells Landing Apartments, LLC d/b/a Heart of Boynton Shops (March 2025 - August 2025) SUMMARY: As a result of the issuance of a Request for Proposals (RFP) and Developer Qualifications (RFQ), the CRA Board selected Centennial Management Corporation (CMC) as the developer at their January 8, 2019 Board meeting, for the mixed-use redevelopment project known as Wells Landing Apartments, LLC d/b/a Heart of Boynton Village Apartments and Heart of Boynton Shops on the CRA owned properties located within the E. Martin Luther King Jr. Boulevard Corridor. The mixed-use development provided 124 affordable multi-family rental units as well as 8,250 square feet of leasable neighborhood serving commercial space. Under the terms of the Commercial Development Agreement (see Attachments I-III) that was executed on February 1, 2022, CMC was required to submit a semi-annual progress report every six months starting from the effective date until project completion (see Attachment IV). Representatives from CMC have been invited to attend the September 9, 2025 Board meeting. FISCAL IMPACT: Fiscal Year 2021-2022 Budget; Project Fund Line Item 02-58200-406 - Local Government Match Contribution $625,750 and Commercial/Retail Component $2,300,815 (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 required unless otherwise determined by the Board. ATTACHMENTS: Description 5 •Attachment III - Second Amendment to Development Agreement •Attachment IV - Commercial Development Report 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 INFORMATION ONLY AGENDA ITEM 8.B 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: Permit approved on 8/11/25 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 May 5, 2025: electrical work began in Units 103, 105, 106 and 108 July 30, 2025: HVAC work in Units 103,105, 106 and 108 nearing completion; data install nearing completion in Unit 108; hood install for Unit 105 schedule for beginning of August August 26, 2025: Units 103,105,106 and 108 selected flooring, cabinets, and countertops; low voltage permits pending review; ongoing mechanical work in 105 Beginning July 30, 2025, CRA Staff meets weekly onsite at the Heart of Boynton Shops. FISCAL IMPACT: Fiscal Year 2021-2022 Budget; Project Fund Line Item 02-58200-406 - Local Government Match Contribution $625,750 and Commercial/Retail Component $2,025,815 (commercial component); TIRFA $1,630,280 and $433,008.45 Second Development Agreement for the Residential Component. 57 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. 58 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 INFORMATION ONLY AGENDA ITEM 8.C SUBJECT: CRA Economic & Business Development Grant Program FY 2024-2025 Year End Report SUMMARY: T h e CRA's reimbursable Economic Development Grants provide 50% of the project costs in matching funding and continue to further the CRA’s mission to activate vacant commercial space, assist businesses, create jobs and develop a vibrant downtown. For FY 2024-2025, the CRA Board allocated $1,000,000. As the fiscal year closes, the CRA Board approved $273,747.48 in Commercial Rent Reimbursement Grants and $477,038.57 in the Commercial Property Improvement Grants. The CRA had the pleasure of assisting 21 new businesses, adding over 25,000 square feet of new retail, restaurant, industrial, and professional office space within the CRA Area with commercial rent subsidy and property improvement grants. Additionally, four existing businesses and two commercial property owners completed property improvements totaling over 95,300 square feet (see Attachment I). The successful implementation and distribution of the the CRA's Economic Development Grant Programs Project Fund resulted in a remaining balance of approximately $258,753.95 at the end of this fiscal year. FY 2024-2025 Budget:$1,000,000 Economic Development Grant Dollars awarded year-to-date ($750,786.05) Remaining Fund Balance as of 9/3/2025:$249,213.95 FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58400-444, $1,150,000 for Economic Development Grants CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan 59 •Attachment I - FY24-25 Grant Recap CRA BOARD OPTIONS: No action required by the CRA Board at this time. ATTACHMENTS: Description 60 61 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 INFORMATION ONLY AGENDA ITEM 8.D SUBJECT: Social Media & Print Marketing Update SUMMARY: Throughout the month of August, a variety of marketing efforts were made to promote BBCRA initiatives and projects, as well as, a variety of local businesses that operate within the BBCRA area. Social Media Marketing BBCRA Project Posts: Cottage District Business Promotional Posts : Utilized Facebook and Instagram feed and stories to promote a variety of businesses, such as: Scuba Diving Charters at Boynton Harbor Marina DIY Frozen Yogurt Ocean Avenue Timeless Closet Showcase of Ocean Plaza Businesses Business Promotional Events Rock the Plaza at Ocean Plaza Bon Appetit Boynton Beach Ribbon Cutting for Boynton Beach Dentistry Digital Marketing Blog Posts: Promoted the following blogs on BoyntonBeachInsider.com: BBCRA Celebrates Groundbreaking of The Cottage District Workforce Housing Community Now Open in Boynton Beach: Boynton Beach Dentistry DIY Frozen Yogurt is Back & Better Than Ever Under New Ownership! Black Klover Kava: Come Where You Are Celebrated Dive Into the Giant Gathering: Goliath Grouper Season in Boynton Beach Furniture Medic: Restoring Beauty, One Piece at a Time Find Your Fashion Faves at Ocean Ave Timeless Closet Rock the Plaza at Ocean Plaza - An Afternoon of Music, Local Flavor & Family Fun! Redevelopment Works Newsletter : Cottage District Groundbreaking 62 •Attachment I - August Marketing & Social Media Overview •Attachment II - August - Facebook and Instagram Posts Cottage District Affordable Housing Opportunity Budget Discussions Grand Opening & Ribbon Cutting for Boynton Beach Dentistry DIY Frozen Yogurt Black Klover Kava Eco-Friendly Cruising Goliath Grouper Season Furniture Medic Ocean Avenue Timeless Closet Rock the Plaza Board Meetings Print Marketing A quarter-page ad was published in the Coastal Angler to promote the Boynton Harbor Marina. See Attachment I for an overview of the social media and print marketing in August, 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 - $225 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 63 SOCIAL MEDIA MARKETING OVERVIEW 64 SOCIAL MEDIA – PROJECT POSTS 65 SOCIAL MEDIA - BUSINESS POSTS 66 SOCIAL MEDIA - BUSINESS POSTS 67 SOCIAL MEDIA – PROMOTIONAL EVENTS 68 SOCIAL MEDIA – PROMOTIONAL EVENTS 69 SOCIAL MEDIA – PROMOTIONAL EVENTS 70 PRINT MARKETING – COASTAL ANGLER 71 August Facebook & Instagram Posts 72 August Facebook & Instagram Posts 73 August Facebook & Instagram Posts 74 August Facebook & Instagram Posts 75 August Facebook & Instagram Posts 76 August Facebook & Instagram Posts 77 August Facebook & Instagram Posts 78 August Facebook & Instagram Posts 79 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 INFORMATION ONLY AGENDA ITEM 8.E SUBJECT: Rock the Plaza at Ocean Plaza Recap SUMMARY: EVENT RECAP On Saturday, August 16, 2025, the BBCRA hosted Rock the Plaza at the Ocean Plaza property, located at 640 E. Ocean Avenue. The free business promotional event took place from 2:00 p.m. to 6:00 p.m., and provided a spotlight on the businesses that are located within the shopping plaza. The event featured live music from the band Rogue Theory, family-friendly activities, information about BBCRA funded redevelopment projects, and samples from plaza restaurants and eateries. Attendees were encouraged to play Business Word Hunt, which took them on a tour through the plaza to connect with the featured businesses, for a chance to win a prize pack of gift cards. Additionally, the following Boynton Beach Bucks promotions were activated for the event: $5 off a purchase at Cafe Frankie's $5 off a purchase of $10 or more at Bailey's Blendz $10 off a purchase at Angel's Secret $10 off a purchase of $20 or more at Scheurer's Chocolate and Sushi Jo $20 off any service at Alchemy Eco Salon In an effort to engage the community and obtain demographic information, event patrons were encouraged to complete a short feedback survey. A total of 72 digital survey responses (see Attachment I) were collected, indicating some of the following results: Are you a Boynton Beach resident? Yes - 77.5% No - 22.5% Have you dined in Ocean Plaza before this event? If so, please select all the restaurants that you have previously visited. Bailey's Blendz - 13.9% Cafe Frankie's - 50% Sushi Jo - 36.1% 80 Were you aware of Boynton Beach CRA programs before this event? Yes - 41.7% No - 58.3% Have you used the Coastal Cruiser rideshare before? Yes - 15.5% No - 84.5% 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 - A full-page ad was featured in the Neighborhood News to promote the event. The Neighborhood News publication is a great way to reach out to the western Boynton Beach communities. The publication is mailed to 17,500 homes/clubhouses, with over 10,000 additional subscribers that read the digital edition online and on Facebook (see Exhibit 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 C). Cost: $128 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: $1,500 $1,500 Street Signs - Six (6) custom street signs were designed and installed at various locations throughout Boynton Beach to promote the event (see Exhibit E). Cost: $1,265 B l o g - A blog to promote the various aspects of the event was published to the BBCRA’s Boynton Beach Insider blog (see Exhibit F). Cost: $0 Billboard - A graphic was displayed on the billboard located on I-95 and Gateway Boulevard to promote the event (see Exhibit G). Cost: $0 FISCAL IMPACT: FY 2024 - 2025 Budget, Project Fund, Line Item 02-58500-480 - $14,624 for the event and $3,883 for marketing. 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: 81 •Attachment I - Event Survey Results •Exhibits A - G Description 82 Rock The Plaza : Ocean Plaza 8/16/25 has collected 72 responses Question 1 has 71 answers (Radio buttons) "Are you a Boynton Beach resident?" Yes 55 (77.5%) No 16 (22.5%) Question 2 has 49 answers (Checkboxes) "Have you dined at Ocean Plaza before this event? If so, please select all the restaurants that you have previously visited." Cafe Frankie's 36 (50.0%) Bailey’s Blendz 10 (13.9%) Sushi Jo 26 (36.1%) Question 3 has 38 answers (Checkboxes) "Have you ever visited any other Ocean Plaza business? Please select all that apply." Scheurer’s Chocolate 16 (22.2%) Palm Beach Shooting Organization 1 (1.4%) Fran's Sew and So 4 (5.6%) By Cycle 4 (5.6%) Alchemy Salon 4 (5.6%) All responsesQuestion 1: Are you a Boynton Beach resident?Question 2: Have you dined at Ocean Plaza before this event? If so, please select all the restaurants that you have previously visited.Question 3: Have you ever visited any other Ocean Plaza business? Please select all that apply.Question 4: Were you aware of the Boynton Beach Community Redevelopment Grant Programs before this event?Question 5: Have you used the Coastal Cruise rideshare before today?Question 6: Before this event, were you aware of the Cottage District Affordable Housing ProjectQuestion 7: How did you hear about the Rock the Plaza event?Question 8: If you would like to subscribe to the BBCRA email list for futureQuestion 9: If you provided your email please select what type Feedback83 Angel’s Secret 13 (18.1%) Link Jewelry 1 (1.4%) Detail Design 0 (0.0%) Fly and Flow Fitness 7 (9.7%) Lighthouse Vape 5 (6.9%) Penn Nails 3 (4.2%) Tropical Troys 1 (1.4%) Massage Place 2 (2.8%) Question 4 has 72 answers (Radio buttons) "Were you aware of the Boynton Beach Community Redevelopment Grant Programs before this event?" Yes 30 (41.7%) No 42 (58.3%) Question 5 has 71 answers (Radio buttons) "Have you used the Coastal Cruise rideshare before today?" yes 11 (15.5%) no 60 (84.5%) Question 6 has 72 answers (Radio buttons) "Before this event, were you aware of the Cottage District Affordable Housing Project?"Feedback84 yes 16 (22.2%) no 56 (77.8%) Question 7 has 70 answers (Checkboxes) "How did you hear about the Rock the Plaza event?" Social Media 33 (45.8%) Email 5 (6.9%) Poster/Street Sign 23 (31.9%) Newspaper/Magazine 2 (2.8%) From a Friend/Family Member 17 (23.6%) Question 8 has 19 answers (Open text) "If you would like to subscribe to the BBCRA email list for future Boynton Beach Bucks deals please enter your email below. By providing your email address, you agree to receive promotional messages from the Boynton Beach CRA. Please be advised that under Florida records law, email addresses are public record. Therefore, your email address may be subject to public disclosure." Unknown contact said: "Soirphotography@gmail.com"Feedback85 Unknown contact said: "Shearmath@yahoo.com" Unknown contact said: "Somebodyssally@gmail.com " Unknown contact said: "Jdrews2001@aol.com" Question 9 has 37 answers (Checkboxes) "If you provided your email please select what types of email material you would like to receive. " Redevelopment 5 (6.9%) Business Outreach 3 (4.2%) Business Promotions 5 (6.9%) Events 22 (30.6%) All of the above 12 (16.7%)Feedback86 Exhibit A – Coastal Star 87 Exhibit B – Neighborhood News 88 Exhibit C – Posters 89 Exhibit D – Social Media 90 91 92 Exhibit E – Street Signs 93 Exhibit F – Blog 94 Exhibit G – Billboard 95 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 INFORMATION ONLY AGENDA ITEM 8.F SUBJECT: Update on 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 (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). On July 8, 2025, the CRA Board requested staff to continue negotiations, look into acquiring the outstanding parcels and provide options for the current tenants (Attachment VII). To date, CRA staff has ordered and is waiting on the appraisals for the three parcels not included in this assemblage: 420 W. Boynton Beach Boulevard 415 NW 1st Avenue 457 NW 1st Avenue 96 •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 •Attachment VII - 07-08-2025 CRA Board Meeting Minutes •Attachment VIII - Leased Property Information •Attachment IX - Nearby Residential & Commercial Spaces Available The Seller has also provided a breakdown of the residential and commercial units they current have occupied (see Attachment VIII) along with options for the relocation of the commercial and residential tenants within the area (see Attachment IX). 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: To be determined by the CRA Board. ATTACHMENTS: Description 97 w.crexi- Themmeral EstaxchangDetails Property Type Land, Mixed Use, Multifamily, O ce 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 pro le 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 1/598 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, o ering 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-Tra c 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 o ers 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 o ering. 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 o ers 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. 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Strategic Investment-Positioned in a rapidly developing area with strong growth potential, o ering 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 pro le 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 2/599 investment. Flexible Zoning-Zoned for multiple uses, including residential, commercial, or recreational, providing exibility for various development options. High Visibility-Located in a high-tra c 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 pro le 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 3/5100 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 pro le 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 4/5101 *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 pro le 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 5/5102 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 o ers strong cash ow from day one, making it an excellent choice for investors seeking steady returns with signi cant 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, o ering 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-Tra c 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 pro le 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 1/4103 transformative project, this prime Boynton Beach assemblage o ers 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 o ering. Whether you're looking for reliable passive income or a strategic redevelopment project, this investment o ers the best of both worlds. Dialogue with city o cials 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 pro le 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 2/4104 $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 pro le 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 3/4105 *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 pro le 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 4/4106 0 0.04 0.070.02MilesmScale: 1:2,257Date: 5/22/2025Time: 10:02 AM107 55 Boynton Beach Boulevard District Introduction Planning Challenges Planning Considerations The Vision Recommendations 108 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 109 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 110 58D.District Plans111 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. 112 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 113 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. 114 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 115 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 116 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 * 117 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 118 66D.District Plans119 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 120 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. 121 69 Figure 24: Example of Mixed Use Medium Project on Boynton Beach Blvd. B B Seacrest Blvd.122 70D.District Plans123 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 124 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. 125 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 126 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: 127 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 128 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 129 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 130 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. 131 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. 132 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. 133 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 7 AREA/LOCATION MAPS 134 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 8 SURVEY/PLAT Survey of the West Portion of the Assemblage 135 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 136 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 10 AERIAL PHOTOGRAPHS 137 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 138 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 12 Subject, Northeast corner Subject, Northwest Corner 139 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 140 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 14 Northwest 1st Avenue, looking west, Subject at right 141 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 142 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 143 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 17 444 West Boynton Beach Boulevard 144 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 18 431, 433, 435 Northwest 1st Avenue 145 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 146 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. 147 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). 148 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. 149 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. 150 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. 151 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. 152 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. 153 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. 154 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. 155 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 29 156 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. 157 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 31 158 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. 159 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 33 160 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. 161 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 35 Residential Real Estate 162 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. 163 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. 164 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. 165 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 166 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. 167 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 168 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 169 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 170 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. 171 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. 172 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. 173 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. 174 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. 175 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. 176 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 177 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. 178 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 179 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. 180 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 181 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. 182 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 183 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. 184 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 185 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. 186 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 187 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. 188 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 62 Comparable Sales Locations Maps 189 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 63 190 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 64 191 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 65 192 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 66 193 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 67 194 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 68 195 West Boynton Beach Boulevard Land Assemblage A&C Job No.: 2250168.000 69 196 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 197 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. 198 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. 199 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 $63.48 200 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: $7,700,000 201 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." 202 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 203 Appraiser Licenses 204 205 ADDENDUM 206 207 208 209 210 211 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 $1,900,000.00 212 213 214 215 Address Parcel #Taxes (2024)Insurance Expenses (Yr)Type of Property Rent (Mo)# Bed/Bath Sq. Ft.Water (Mo)Power (Mo)Start Date End Date 221 NW 3rd St 08-43-45-28-10-001-0010 $7,093.01 $1,084.13 $1,620.00 Residential $1,300.00 1B 1 Bath 564 $250.00 $170.00 12/24/2024 12/31/2025 402 W Boynton $1,084.13 Residential $1,400.00 1B 1 Bath 528 $95.00 month to month 404 W Boynton $1,084.13 Residential $1,300.00 1B 1 Bath 564 $150.00 2/1/2025 1/31/2026 416 W Boynton 08-43-45-28-11-000-0010 $30,308.45 $1,084.13 $6,150.00 $750.00 $40.00 Apt. 1 Residential $1,500.00 1B 1 Bath 700 3/1/2025 2/28/2026 Apt. 2 Residential $1,500.00 1B 1 Bath 700 1/15/2025 1/14/2026 Apt. 3 Residential $1,600.00 1B 1 Bath 700 month to month Apt. 4 Residential $1,200.00 1B 1 Bath 700 month to month Apt. 5 Residential $1,600.00 1B 1 Bath 700 5/1/2025 4/30/2026 Apt. 6 Residential $1,600.00 1B 1 Bath 700 month to month Apt. 7 Residential $1,500.00 1B 1 Bath 700 12/1/2024 11/30/2025 Apt. 8 Residential $1,600.00 1B 1 Bath 700 10/1/2024 9/30/2025 Apt. 9 Residential $1,500.00 1B 1 Bath 700 2/25/2025 2/28/2026 Apt. 10 Residential $1,500.00 1B 1 Bath 700 1/31/2025 1/31/2026 Apt. 11 Residential $1,600.00 1B 1 Bath 700 month to month Apt. 12 Residential $1,600.00 1B 1 Bath 700 month to month 432 W Boynton #A (2 units) 08-43-45-28-11-000-0050 $16,537.08 $1,084.13 Commercial vacant 1952 $200.00 444 W Boynton, #E (2 units) 08-43-45-28-27-000-0051 $11,615.52 $1,084.13 $1,300.00 Commercial $3,667.00 2996 2/1/2023 1/31/2026 450 W Boynton (vacant land) 08-43-45-28-27-000-0052 $1,575.53 $1,084.13 435 NW 1st Ave (vacant land) 08-43-45-28-11-000-0081 $1,786.71 431 NW 1st Ave (vacant land) 08-43-45-28-11-000-0072 $1,786.71 NW 1st Ave (vacant land) 08-43-45-28-11-000-0071 $1,786.71 421 NW 1st Ave 08-43-45-28-11-000-0100 $5,788.73 $1,084.13 Residential vacant 2B 1 Bath 1388 $85.00 449 NW 1st Ave (vacant land) 08-43-45-28-27-000-0054 $2,884.51 $1,084.13 411 NW 1st Ave 08-43-45-28-11-000-0121 $6,897.51 $1,084.13 Residential vacant 2B 2Bath 1552 $70.00 $200.00 203 NW 3rd St (vacant land) 08-43-45-28-10-001-0071 $6,692.11 $1,084.13 215 NW 3rd St 08-43-45-28-10-001-0031 $10,765.88 $1,084.13 Commercial vacant 1383 $135.00 $120.00 * Insurace based on multi property policy (no specific premium per address is provided) 216 217 Property Map & List Report Property Summary Statistics Property Attributes Low Average Median High Building SF 1,564 SF 66,296 SF 23,762 SF 535,055 SF Year Built 1955 1992 1988 2026 Available SF 880 SF 5,828 SF 2,731 SF 40,188 SF Asking Rent Per SF/MO $1.13 $2.22 $2.50 $4.17 Availability %3.1%16.2%16.8%100% Vacancy %0.0%14.3%10.9%100% Asking Price Per SF $450.51 $450.51 $450.51 $450.51 Cap Rate ---- Star Rating 2 2.8 3 4 Property List Property Name/ Address Type Built/ Renovated Size (% Leased)SF Available Asking Rent Asking Price (Cap Rate) 1 101 SE 27th Ave Boynton Beach, Florida 3… Office 1989 3,568 SF (75.3%)880 $2.92 SF/Month/NNN Not For Sale © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 1 8/27/2025 218 Property List (Continued) Property Name/ Address Type Built/ Renovated Size (% Leased)SF Available Asking Rent Asking Price (Cap Rate) 2 3795 Boynton Beach Blvd Boynton Beach, Florida 3… Office 1996 14,980 SF (70.1%)4,480 $2.50 SF/Month/NNN Not For Sale 3 3111 W Boynton Beach Blvd Boynton Beach, Florida 3… Office 2008 6,146 SF (100%)1,750 - 6,146 $2.92 SF/Month/NNN Not For Sale 4 Chase Bank 555 N Congress Ave Boynton Beach, Florida 3… Office 1987 19,524 SF (82.5%)1,705 - 3,409 $1.13 SF/Month/NNN Not For Sale 5 Boynton Beach Professio… 1325 S Congress Ave Boynton Beach, Florida 3… Office 1985 52,867 SF (95.5%)1,178 - 2,378 $2.33 SF/Month/MG Not For Sale 6 Woolbright Executive Cen… 1501 Corporate Dr Boynton Beach, Florida 3… Office 1985 28,000 SF (100%)15 - 1,915 $1.72 SF/Month/NNN Not For Sale 7 2923 S Federal Hwy Boynton Beach, Florida 3… Retail 1984/2021 12,599 SF (36.3%)2,544 - 8,025 $2.67 SF/Month/NNN Not For Sale 8 Knuth Road Office Center 200 Knuth Rd Boynton Beach, Florida 3… Office 1987 31,680 SF (91.3%)175 - 2,750 $1.95 - 2.68 SF/Month/MG Not For Sale 9 4600 N Ocean Blvd Boynton Beach, Florida 3… Office 1981 12,288 SF (87.5%)1,535 $2.85 SF/Month/NNN Not For Sale 10 2314 Seacrest Blvd Boynton Beach, Florida 3… Office 1989 9,073 SF (80.2%)1,800 $2.50 SF/Month/NNN Not For Sale 11 Woolbright Professional B… 2240 W Woolbright Rd Boynton Beach, Florida 3… Office 1985 79,204 SF (91.6%)1,265 - 6,683 $1.46 SF/Month/NNN Not For Sale 12 2609 W Woolbright Rd Boynton Beach, Florida 3… Retail 1983/2021 12,320 SF 1,935 - 12,320 $3.33 - 4.17 SF/Month/NNN Not For Sale 13 1200-1260 S Federal Hwy Boynton Beach, Florida 3… Office 1982 34,106 SF (96.5%)1,191 Withheld Not For Sale 14 One Boynton 1351 S Federal Hwy Boynton Beach, Florida 3… Apartments 2009 494 Units 1,200 - 9,573 Withheld Not For Sale 15 Bethesda Professional Pla… 2623 S Seacrest Blvd Boynton Beach, Florida 3… Office 1988 54,187 SF (91.6%)1,160 - 4,546 Withheld Not For Sale © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 2 8/27/2025 219 Property List (Continued) Property Name/ Address Type Built/ Renovated Size (% Leased)SF Available Asking Rent Asking Price (Cap Rate) 16 1700 W Woolbright Rd Boynton Beach, Florida 3… Office 2000 16,746 SF (100%)2,712 Withheld Not For Sale 17 215 NW 3rd St Boynton Beach, Florida 3… Office 1955 1,564 SF (11.6%)1,383 $3.25 SF/Month/NNN Not For Sale 18 127 Boynton Beach Blvd Boynton Beach, Florida 3… Office 2019 3,096 SF (65.2%)1,079 $3.75 SF/Month/MG Not For Sale 19 Catalina Centre 1701-1797 N Congress Ave Boynton Beach, Florida 3… Retail 1988 143,328 SF (100%)1,390 - 40,188 $2.50 SF/Month/NNN Not For Sale 20 Compson Place 1880 N Congress Ave Boynton Beach, Florida 3… Office 2008 138,728 SF (90.7%)1,577 - 11,468 $1.67 SF/Month/NNN $669,000 21 Woolbright Corporate I 1901 S Congress Ave Boynton Beach, Florida 3… Office 1983 52,960 SF (96.9%)1,667 $1.75 SF/Month/NNN Not For Sale 22 Knuth& Boynton Beach Bl… Boynton Beach, Florida 3… Apartments 2026 262 Units 1,177 - 5,200 $5.00 SF/Month/MG Not For Sale © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 3 8/27/2025 220 1 101 SE 27th Ave Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Office Property Summary RBA (% Leased)3,568 SF (75.3%) Built 1989 Stories 1 Elevators None Typical Floor 3,568 SF Tenancy Multiple Available 880 SF Max Contiguous 880 SF Asking Rent $2.92 SF/Month/NNN Parking Spaces 26 (7.29/1,000 SF) Property Details Land Area 0.51 AC (22,216 SF)Owner Occupied Yes Building FAR 0.16 Zoning C1 Parcel 08-43-45-16-01-017-0270 (+1 more) For Lease Summary Number of Spaces 1 Asking Rent $2.92 SF/Month Smallest Space 880 SF Service Type Triple Net Max Contiguous 880 SF CAM $1.00/SF Vacant 880 SF Office Available 880 SF % Leased 75.3% Amenities • Air Conditioning • Open-Plan • Secure Storage • Signage • Smoke Detector Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 100 Office Direct 880 880 880 $2.92 NNN Vacant 3 - 7 Years Previous Sale Sale Date 5/6/2025 Comp ID 7185898 Sale Price $350,000 ($98.09/SF)Comp Status Public Record Transportation Parking Details 26 Surface Spaces; Ratio of 7.29/1,000 SF Traffic Volume 17,665 on SE 27th Ave (2025); 1,343 on S Seacrest Blvd (2025); 17,584 on SE 25th Ave (2025); 3,075 on SW 23rd Ave (2025); 20,447 on SE 27th Ave (2025); 16,794 on SE 23rd Ave (2025); 13,470 on SW 1st St (2025); 8,813 on SE 1st St (2025); 13,028 on SW 26th Ave (2025); 13,119 on SW 26th Ave (2025) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 4 8/27/2025 221 1 101 SE 27th Ave Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Office Transportation (Continued) Commuter Rail Boynton Beach 9 min drive Delray Beach 10 min drive Airport Palm Beach International 22 min drive Walk Score ®Car-Dependent (44) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Hoang Goetz 1 3,568 -Apr 2025 - Showing 1 of 1 Tenants Contacts Type Name Location Phone Recorded Owner Natacha Polynice Boynton Beach, FL 33435 - Recorded Owner Wislet Jean Mary -- True Owner Hoang Goetz Boca Raton, FL 33486 (408) 909-3388 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 5 8/27/2025 222 2 3795 Boynton Beach Blvd Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)14,980 SF (70.1%) Built 1996 Stories 1 Elevators None Typical Floor 14,980 SF Tenancy Multiple Available 4,480 SF Max Contiguous 4,480 SF Asking Rent $2.50 SF/Month/NNN Parking Spaces 70 (4.67/1,000 SF) Property Details Land Area 1.55 AC (67,518 SF)Owner Occupied No Building FAR 0.22 Zoning CS Core Factor 4%Parcel 00-43-45-30-01-013-0010 For Lease Summary Number of Spaces 1 Asking Rent $2.50 SF/Month Smallest Space 4,480 SF Service Type Triple Net Max Contiguous 4,480 SF CAM $1.17/SF Vacant 4,480 SF Office/Medical Available 4,480 SF % Leased 70.1% Amenities • 24 Hour Access • Air Conditioning • Monument Signage • Property Manager on Site • Reception • Signage Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 D Office/Medical Direct 4,480 4,480 4,480 $2.50 NNN Vacant 1 - 10 Years Previous Sale Sale Date 6/9/2021 Sale Type Investment Sale Price $4,200,000 Comp Status Research Complete Comp ID 5536731 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 6 8/27/2025 223 2 3795 Boynton Beach Blvd Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation Parking Details 70 Surface Spaces; Ratio of 4.67/1,000 SF Traffic Volume 42,386 on Oakwood Lakes Dr (2025); 15,248 on NW 2nd Ave (2025); 38,769 on Lawrence Rd (2025); 39,966 on Lawrence Rd (2025); 7,846 on Greentrail Dr N (2025); 8,422 on Greentrail Dr N (2019); 18,721 on Oakwood Lakes Dr (2019); 18,973 on Oakwood Lakes Dr (2025); 9,522 on Boynton Rd W (2025); 38,950 on Lawrence Rd (2024) Commuter Rail Boynton Beach 9 min drive Delray Beach 12 min drive Airport Palm Beach International 24 min drive Walk Score ®Somewhat Walkable (54) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Alliance Spine & Joint One 1 5,200 35 Feb 2018 - Acupuncture Jiang Inc 1 -7 Aug 2021 - Showing 2 of 2 Tenants Contacts Type Name Location Phone Recorded Owner Amicus Real Estate Group LLC Sunrise, FL 33323 (954) 505-5000 True Owner Amicus Sunrise, FL 33323 (954) 505-5000 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 7 8/27/2025 224 3 3111 W Boynton Beach Blvd Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)6,146 SF (100%) Built 2008 Stories 1 Typical Floor 6,146 SF Tenancy Multiple Available 1,750 - 6,146 SF Max Contiguous 6,146 SF Asking Rent $2.92 SF/Month/NNN Parking Spaces 31 (5.04/1,000 SF) Property Details Land Area 0.73 AC (31,798 SF)Zoning C3 Building FAR 0.19 Parcel 08-43-45-30-01-006-0020 Owner Occupied Yes For Lease Summary Number of Spaces 1 Asking Rent $2.92 SF/Month Smallest Space 1,750 SF Service Type Triple Net Max Contiguous 6,146 SF CAM $1.05/SF Vacant 0 SF Office/Retail Available 6,146 SF % Leased 100% Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term E 1 -Office/Retail Direct 1,750 - 6,146 6,146 6,146 $2.92 NNN 30 Days Negotiable Transportation Parking Details 31 Surface Spaces; Ratio of 5.04/1,000 SF Traffic Volume 12,184 on W Boynton Beach (2025); 7,514 on Boynton Rd W (2025); 37,844 on 31st Ter S (2025); 17,532 on Winchester PkBlvd (2025); 18,027 on Knuth Rd (2025); 7,050 on Winchester PkBlvd (2025); 18,517 on Winchester PkBlvd (2024); 39,095 on W Boynton Beach Blvd (2024); 16,437 on Winchester PkBlvd (2025) Commuter Rail Boynton Beach 8 min drive Delray Beach 11 min drive Airport Palm Beach International 23 min drive Walk Score ®Somewhat Walkable (61) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Mote Wellness & Rehab, Inc 1 4,020 27 Oct 2008 - © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 8 8/27/2025 225 3 3111 W Boynton Beach Blvd Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Office Tenants (Continued) Tenant Name Floor SF Occupied Employees Move Date Expiration Palm Beach Aquatics & Physical 1 2,126 12 Jul 2016 - Showing 2 of 2 Tenants Contacts Type Name Location Phone Recorded Owner Mote Properties Llc Boynton Beach, FL 33436 - © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 9 8/27/2025 226 4 555 N Congress Ave - Chase Bank Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)19,524 SF (82.5%) Built 1987 Stories 3 Elevators 2 passenger Typical Floor 6,508 SF Tenancy Multiple Available 1,705 - 3,409 SF Max Contiguous 3,409 SF Asking Rent $1.13 SF/Month/NNN Property Details Land Area 2.20 AC (95,832 SF)Owner Occupied No Building FAR 0.20 Zoning C-3 Core Factor 11%Parcel 08-43-45-19-05-031-0020 For Lease Summary Number of Spaces 1 % Leased 82.5% Smallest Space 1,705 SF Asking Rent $1.13 SF/Month Max Contiguous 3,409 SF Service Type Triple Net Vacant 3,409 SF Office/Medical Available 3,409 SF Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 2 201 Office/Medical Direct 1,705 - 3,409 3,409 3,409 $1.13 NNN Vacant Negotiable Previous Sale Sale Date 10/24/2019 Sale Type Investment Sale Price $3,700,000 Comp Status Research Complete Comp ID 4938325 Actual Cap Rate 6.6% Transportation Traffic Volume 33,760 on Old Boynton Rd (2025); 18,571 on Winchester PkBlvd (2024); 18,916 on Winchester Pk (2025); 18,509 on Winchester PkBlvd (2025); 15,187 on N Congress Ave (2025); 34,608 on Old Boynton Rd (2025); 7,050 on Winchester PkBlvd (2025); 17,532 on Winchester PkBlvd (2025); 38,115 on W Boynton Beach (2024); 38,950 on W Boynton Beach Blvd (2025) Commuter Rail Boynton Beach 7 min drive Delray Beach 11 min drive Airport Palm Beach International 22 min drive Walk Score ®Somewhat Walkable (58) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 10 8/27/2025 227 4 555 N Congress Ave - Chase Bank Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Chase Bank 1 4,000 12 Jul 2009 - Mary Babib, DDS 3 1,250 -Dec 2014 - Boynton Beach Dermatology 2 1,050 7 Jul 2016 - Enhabit 2 1,000 25 Dec 2023 - South Palm Dental 3 750 5 Jul 2016 - Showing 5 of 9 Tenants Contacts Type Name Location Phone Recorded Owner 555 Congress LP Boynton Beach, FL 33435 - True Owner Viglione Properties Inc Montréal, QC H1S 3G5 1 (514) 376-0279 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 11 8/27/2025 228 5 1325 S Congress Ave - Boynton Beach Professional Center Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)52,867 SF (95.5%) Built 1985 Stories 2 Elevators 1 passenger Typical Floor 26,275 SF Tenancy Multiple Available 1,178 - 2,378 SF Max Contiguous 1,200 SF Asking Rent $2.33 SF/Month/MG Parking Spaces 263 (5.00/1,000 SF) Property Details Land Area 4.09 AC (178,160 SF)Owner Occupied No Building FAR 0.30 Zoning C1, Boynton Beach Core Factor 8.5%Parcel 08-43-45-30-01-097-0042 For Lease Summary Number of Spaces 2 % Leased 95.5% Smallest Space 1,178 SF Asking Rent $2.33 SF/Month Max Contiguous 1,200 SF Service Type Modified Gross Vacant 2,378 SF Office/Medical Available 2,378 SF Amenities • Bus Line • Commuter Rail • Courtyard • Signage Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 2 206 Office/Medical Direct 1,200 1,200 1,200 $2.33 MG Vacant Negotiable P 2 205 Office/Medical Direct 1,178 1,178 1,178 $2.33 MG Vacant Negotiable Previous Sale Sale Date 7/27/2012 Sale Type Investment Sale Price $7,750,000 Comp Status Research Complete Comp ID 2543913 Actual Cap Rate 7.0% Transportation Parking Details 263 Surface Spaces; Ratio of 5.00/1,000 SF Traffic Volume 30,978 on SW Congress Blvd (2025); 33,157 on SW Congress Blvd (2019); 3,371 on S Congress Ave (2025); 1,485 on SW 24th St (2025); 31,951 on SW Congress Blvd (2025); 25,293 on SW 15th Ave (2025); 26,808 on W Woolbright Rd (2025); 28,504 on SW 19th Ave (2025); 34,754 on Stonehaven Dr (2025); 43,483 on SW 22nd St (2025) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 12 8/27/2025 229 5 1325 S Congress Ave - Boynton Beach Professional Center Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation (Continued) Commuter Rail Boynton Beach 9 min drive Delray Beach 9 min drive Airport Palm Beach International 23 min drive Walk Score ®Car-Dependent (45) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration International College Of Health Sciences 1–2 16,061 12 Nov 2022 Nov 2027 Institute of Healthcare Professions 1 14,886 -Jun 2024 Jun 2026 Baptist Health South Florida 1 5,000 33 Jun 2022 - Greenbrook TMS NeuroHealth Centers 2 4,455 30 Oct 2021 Oct 2026 Florida Gastro Unkwn, 1 4,096 -May 2021 Dec 2029 Showing 5 of 29 Tenants Contacts Type Name Location Phone Recorded Owner Congress Ave Boynton LLC -- True Owner Diversified Healthcare Trust Newton, MA 02458 (617) 796-8350 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 13 8/27/2025 230 6 1501 Corporate Dr - Woolbright Executive Center Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)28,000 SF (100%) Built 1985 Stories 2 Elevators 2 passenger Typical Floor 14,000 SF Tenancy Multiple Available 15 - 1,915 SF Max Contiguous 1,885 SF Asking Rent $1.72 SF/Month/NNN Parking Spaces 135 (5.00/1,000 SF) Property Details Land Area 2.86 AC (124,582 SF)Owner Occupied Yes Building FAR 0.22 Zoning C-1, Boynton Beach Core Factor 15%Parcel 08-43-45-32-14-002-0010 For Lease Summary Number of Spaces 2 Asking Rent $1.72 SF/Month Smallest Space 15 SF Service Type Triple Net Max Contiguous 1,885 SF CAM $1.17/SF Vacant 1,885 SF Office Available 1,915 SF % Leased 100% Amenities • 24 Hour Access • Conferencing Facility • Controlled Access • Hardwood Floors • Kitchen • Natural Light • Open-Plan • Property Manager on Site • Signage • Smoke Detector Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 2 240 Office Sublet 1,885 1,885 1,885 $1.72 NNN Vacant Thru Nov 2027 Previous Sale Sale Date 8/30/2011 Sale Type Investment Sale Price $1,788,998 Comp Status Research Complete Comp ID 2253778 Sale Conditions REO Sale © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 14 8/27/2025 231 6 1501 Corporate Dr - Woolbright Executive Center Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation Parking Details 35 Reserved Spaces; 100 Surface Spaces; Ratio of 5.00/1,000 SF Traffic Volume 6,608 on SW 8th St (2025); 29,700 on SW 15th Ave (2025); 9,742 on Pinehurst Dr (2025); 44,214 on SW 18th St (2025); 41,662 on I- 95 (2025); 29,516 on SW 18th St (2025); 2,513 on SW 15th Ave (2025); 1,579 on SW 15th Ave (2025); 27,905 on SW 18th St (2025); 11,240 on Not Available (2020) Commuter Rail Boynton Beach 8 min drive Delray Beach 8 min drive Airport Palm Beach International 21 min drive Walk Score ®Somewhat Walkable (57) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Advanced TRT Clinic 1 5,000 33 Dec 2022 Nov 2027 Activa Home Health 2 3,122 21 Jun 2016 - Kore Advisors 1 2,000 6 May 2019 - Trez Capital 2 1,718 13 Oct 2014 - RECLAIM WELLNESS 2 1,213 -Nov 2022 - Showing 5 of 11 Tenants Contacts Type Name Location Phone Developer Kore Advisors Boynton Beach, FL 33426 (561) 737-1721 Recorded Owner Kore Advisors Boynton Beach, FL 33426 (561) 737-1721 True Owner Kore Advisors Boynton Beach, FL 33426 (561) 737-1721 Property Management Kore Advisors Boynton Beach, FL 33426 (561) 737-1721 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 15 8/27/2025 232 7 2923 S Federal Hwy Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Retail Property Summary GLA (% Leased)12,599 SF (36.3%) Built/Renovated 1984/2021 Tenancy Multiple Available 2,544 - 8,025 SF Max Contiguous 5,481 SF Asking Rent $2.67 SF/Month/NNN Parking Spaces 67 (5.32/1,000 SF) Frontage 166' on U.S. 1 Property Details Land Area 1.31 AC (57,064 SF)Zoning C3 Building FAR 0.22 Parcel 08-43-46-04-17-000-0690 For Lease Summary Number of Spaces 3 Asking Rent $2.67 SF/Month Smallest Space 2,544 SF Service Type Triple Net Max Contiguous 5,481 SF CAM $0.88 - 0.89/SF Vacant 8,025 SF Office/Retail Available 8,025 SF % Leased 36.3% Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 400 Office/Retail Direct 2,871 5,481 5,481 $2.67 NNN Vacant 5 - 10 Years P 1 300 Office/Retail Direct 2,610 5,481 5,481 $2.67 NNN Vacant 5 - 10 Years P 1 200 Office/Retail Direct 2,544 2,544 2,544 $2.67 NNN Vacant 5 - 10 Years Transportation Parking Details 67 Surface Spaces; Ratio of 5.32/1,000 SF Traffic Volume 22,293 on Chukker Rd (2025); 27,136 on SE 27th Ter (2025); 27,192 on Intracoastal Rd (2025); 27,012 on Bamboo Ln (2025); 22,043 on SE 23rd Ave (2025); 8,704 on S Federal Hwy (2025); 1,343 on S Seacrest Blvd (2025); 8,725 on SE 2nd St (2025) Frontage 166' on U.S. 1 Commuter Rail Boynton Beach 10 min drive Delray Beach 11 min drive Airport Palm Beach International 24 min drive Walk Score ®Car-Dependent (40) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 16 8/27/2025 233 7 2923 S Federal Hwy Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Retail Contacts Type Name Location Phone Recorded Owner Daniel Heart Center, LLC Boynton Beach, FL 33435 - True Owner Daniel Heart & Vascular Center, PA Boynton Beach, FL 33435 (561) 752-0100 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 17 8/27/2025 234 8 200 Knuth Rd - Knuth Road Office Center Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)31,680 SF (91.3%) Built 1987 Stories 2 Elevators 8 passenger Typical Floor 15,840 SF Tenancy Multiple Available 175 - 2,750 SF Max Contiguous 2,200 SF Asking Rent $1.95 - 2.68 SF/Month/MG Parking Spaces 129 (4.07/1,000 SF) Property Details Land Area 1.76 AC (76,666 SF)Owner Occupied Yes Building FAR 0.41 Zoning C1 Slab to Slab 11'Parcel 08-43-45-30-01-025-0011 For Lease Summary Number of Spaces 3 % Leased 91.3% Smallest Space 175 SF Asking Rent $1.95 - 2.68 SF/Month Max Contiguous 2,200 SF Service Type Modified Gross Total Available 2,750 SF Office Available 550 SF Vacant 2,750 SF Office/Medical Available 2,200 SF Amenities • 24 Hour Access • Air Conditioning • Atrium • Bus Line • Conferencing Facility • Natural Light • Open-Plan • Property Manager on Site • Signage • Wheelchair Accessible Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 102 Office/Medical Direct 2,200 2,200 2,200 $1.95 MG Vacant 1 - 5 Years P 2 200J Office Direct 375 375 375 $2.40 MG Vacant 1 - 5 Years P 2 252 Office Direct 175 175 175 $2.68 MG Vacant 1 - 5 Years Transportation Parking Details 129 Surface Spaces; Ratio of 4.07/1,000 SF Traffic Volume 37,844 on 31st Ter S (2025); 12,184 on W Boynton Beach (2025); 7,514 on Boynton Rd W (2025); 42,386 on Oakwood Lakes Dr (2025); 18,027 on Knuth Rd (2025); 17,532 on Winchester PkBlvd (2025); 31,951 on W Boynton Beach Blvd (2025); 29,796 on Ocean Dr (2025); 28,620 on Stonehaven Dr (2024) Commuter Rail Boynton Beach 9 min drive Delray Beach 12 min drive © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 18 8/27/2025 235 8 200 Knuth Rd - Knuth Road Office Center Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation (Continued) Airport Palm Beach International 23 min drive Walk Score ®Somewhat Walkable (58) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Floor Coverings International Unkwn 5,000 33 Apr 2021 - U-Haul 1 3,500 -Jan 2021 - Right At Home In Home Care & Assistance Unkwn 2,000 13 Apr 2021 - Kyzar 1 1,500 10 Jun 2025 - Caregivers At Your Home Llc 1 500 -Jan 2018 - Showing 5 of 14 Tenants Contacts Type Name Location Phone Recorded Owner South Florida Properties Ventu Boynton Beach, FL 33436 - True Owner South Florida Property Ventures Boynton Beach, FL 33436 (561) 364-4140 Property Management South Florida Property Ventures III, LLC.Boynton Beach, FL 33436 (561) 364-4140 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 19 8/27/2025 236 9 4600 N Ocean Blvd Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Office Property Summary RBA (% Leased)12,288 SF (87.5%) Built 1981 Stories 2 Elevators 1 passenger Typical Floor 6,144 SF Tenancy Multiple Available 1,535 SF Max Contiguous 1,535 SF Asking Rent $2.85 SF/Month/NNN Parking Spaces 46 (3.74/1,000 SF) Property Details Land Area 0.85 AC (37,178 SF)Zoning C1 Building FAR 0.33 Parcel 08-43-45-34-15-000-0112 Owner Occupied No For Lease Summary Number of Spaces 1 % Leased 87.5% Smallest Space 1,535 SF Asking Rent $2.85 SF/Month Max Contiguous 1,535 SF Service Type Triple Net Vacant 1,535 SF Office Available 1,535 SF Amenities • Bicycle Storage • High Ceilings Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 A Office Direct 1,535 1,535 1,535 $2.85 NNN Vacant Negotiable Previous Sale Sale Date 11/21/2013 Sale Type Owner User Sale Price $900,000 Comp Status Research Complete Comp ID 2909423 Transportation Parking Details 46 Surface Spaces; Ratio of 3.74/1,000 SF Traffic Volume 22,043 on SE 23rd Ave (2025); 22,164 on SE 23rd Ave (2025); 6,333 on Fayette Dr (2025); 8,704 on S Federal Hwy (2025); 27,136 on SE 27th Ter (2025); 8,618 on Fayette Dr (2025); 26,461 on SE 18th Ave (2025); 9,869 on E Woolbright Rd (2024); 9,755 on Woolbright Rd (2024) Commuter Rail Boynton Beach 10 min drive Delray Beach 12 min drive © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 20 8/27/2025 237 9 4600 N Ocean Blvd Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Office Transportation (Continued) Airport Palm Beach International 24 min drive Walk Score ®Car-Dependent (41) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Hinman, Howard & Kattell, LLP 2 4,123 19 Feb 2019 Mar 2026 Surfside Non-Surgical Orthopedics Sports Medicine 1 3,535 6 Aug 2014 Aug 2027 Florida Coalition for Preservation 1 650 2 Apr 2015 - Showing 3 of 3 Tenants Contacts Type Name Location Phone Recorded Owner Yomtob Ocean Llc Delray Beach, FL 33484 - True Owner Yomtob Properties, LLC Delray Beach, FL 33484 (561) 542-8222 Property Management Yomtob Properties, LLC Delray Beach, FL 33484 (561) 542-8222 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 21 8/27/2025 238 10 2314 Seacrest Blvd Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)9,073 SF (80.2%) Built 1989 Stories 1 Elevators None Typical Floor 9,073 SF Tenancy Multiple Available 1,800 SF Max Contiguous 1,800 SF Asking Rent $2.50 SF/Month/NNN Parking Spaces 26 (2.87/1,000 SF) Property Details Land Area 0.78 AC (33,976 SF)Zoning C1 Building FAR 0.27 Parcel 08-43-45-33-03-000-0651 Owner Occupied No For Lease Summary Number of Spaces 1 % Leased 80.2% Smallest Space 1,800 SF Asking Rent $2.50 SF/Month Max Contiguous 1,800 SF Service Type Triple Net Vacant 1,800 SF Office Available 1,800 SF Amenities • Signage Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 -Office Direct 1,800 1,800 1,800 $2.50 NNN Vacant 3 Years Transportation Parking Details 26 Surface Spaces; Ratio of 2.87/1,000 SF Traffic Volume 17,814 on SE 22nd Ave (2025); 8,813 on SE 1st St (2025); 21,098 on High Point Blvd N (2025); 13,470 on SW 1st St (2025); 16,794 on SE 23rd Ave (2025); 8,089 on SE 2nd St (2025); 8,748 on SE 1st St (2025); 8,725 on SE 2nd St (2025); 17,584 on SE 25th Ave (2025) Commuter Rail Boynton Beach 8 min drive Delray Beach 10 min drive Airport Palm Beach International 22 min drive Walk Score ®Somewhat Walkable (50) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 22 8/27/2025 239 10 2314 Seacrest Blvd Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration K. Eva Styperek-Grohmann 1 -1 Sep 2017 - Showing 1 of 1 Tenants Contacts Type Name Location Phone Recorded Owner Glass Styperek Enterprs Inc Boynton Beach, FL 33435 (561) 732-4754 True Owner Glass Styperek Enterprs Inc Boynton Beach, FL 33435 (561) 732-4754 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 23 8/27/2025 240 11 2240 W Woolbright Rd - Woolbright Professional Building Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)79,204 SF (91.6%) Built 1985 Stories 4 Elevators 2 passenger Typical Floor 26,076 SF Tenancy Multiple Available 1,265 - 6,683 SF Max Contiguous 2,750 SF Asking Rent $1.46 SF/Month/NNN Parking Spaces 408 (5.00/1,000 SF) Property Details Land Area 3.22 AC (140,263 SF)Owner Occupied No Building FAR 0.56 Zoning C3 Slab to Slab 11'Parcel 08-43-45-32-00-000-3021 For Lease Summary Number of Spaces 4 Asking Rent $1.46 SF/Month Smallest Space 1,265 SF Service Type Triple Net Max Contiguous 2,750 SF CAM $0.81/SF Total Available 9,433 SF Office Available 8,168 SF Vacant 6,683 SF Medical Available 1,265 SF % Leased 91.6% Amenities • 24 Hour Access • Bus Line • Property Manager on Site • Security System • Signage Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 2 208 Office Direct 2,668 2,668 2,668 $1.46 NNN Vacant 3 - 10 Years P 3 346 Office Direct 2,750 2,750 2,750 $1.46 NNN Vacant 3 - 10 Years Previous Sale Sale Date 9/26/2014 Sale Type Investment Sale Price $5,902,639 Comp Status Research Complete Comp ID 3127580 Sale Conditions Bulk/Portfolio Sale +1 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 24 8/27/2025 241 11 2240 W Woolbright Rd - Woolbright Professional Building Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation Parking Details 360 Surface Spaces; 48 Covered Spaces; Ratio of 5.00/1,000 SF Traffic Volume 26,808 on W Woolbright Rd (2025); 28,504 on SW 19th Ave (2025); 43,483 on SW 22nd St (2025); 24,816 on SW Congress Blvd (2025); 1,225 on 24th Cir (2025); 25,293 on SW 15th Ave (2025); 1,449 on S Congress Ave (2025); 36,295 on SW 23rd Ave (2025); 33,157 on SW Congress Blvd (2019); 1,485 on SW 24th St (2025) Commuter Rail Boynton Beach 9 min drive Delray Beach 9 min drive Airport Palm Beach International 22 min drive Walk Score ®Somewhat Walkable (51) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Frankl & Kominsky Injury Lawyers 2 5,238 35 Oct 2011 Nov 2029 The Rx Helper 2 4,278 28 Jan 2011 - University Cancer Institute 4 4,095 14 Sep 2003 - Accessible Home Health Care 2 2,682 18 Dec 2019 - Sealand Insurance Corp 2 2,668 18 Oct 2021 Oct 2027 Showing 5 of 37 Tenants Contacts Type Name Location Phone Recorded Owner Congress Properties & Investments, LLC -- True Owner Kendall Properties Davie, FL 33329 (954) 763-8111 Property Management Berger Commercial Realty Corp Fort Lauderdale, FL 33301 (954) 358-0900 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 25 8/27/2025 242 12 2609 W Woolbright Rd Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Retail Property Summary GLA (% Leased)12,320 SF (0.0%) Built/Renovated 1983/2021 Tenancy Multiple Asking Rent Withheld Parking Spaces 52 (4.22/1,000 SF) Frontage 2,120' on Woolbright Rd Property Details Land Area 1.01 AC (43,996 SF)Zoning C3 Building FAR 0.28 Parcel 08-43-45-31-17-001-0010 For Lease Summary Number of Spaces 2 % Leased 0.0% Smallest Space 1,935 SF Asking Rent $3.33 - 4.17 SF/Month Max Contiguous 10,385 SF Service Type Triple Net Vacant 12,320 SF Office/Medical Available 12,320 SF Previous Sale Sale Date 3/1/2024 Sale Type Investment Sale Price $3,701,223 Comp Status Research Complete Comp ID 6669552 Transportation Parking Details 52 Surface Spaces; Ratio of 4.22/1,000 SF Traffic Volume 25,293 on SW 15th Ave (2025); 24,816 on SW Congress Blvd (2025); 28,504 on SW 19th Ave (2025); 26,808 on W Woolbright Rd (2025); 33,157 on SW Congress Blvd (2019); 3,371 on S Congress Ave (2025); 1,449 on S Congress Ave (2025); 1,485 on SW 24th St (2025); 1,225 on 24th Cir (2025); 31,951 on SW Congress Blvd (2025) Frontage 2,120' on Woolbright Rd Commuter Rail Delray Beach 10 min drive Boynton Beach 11 min drive Airport Palm Beach International 24 min drive Walk Score ®Car-Dependent (47) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Woolbright Surgery Center Unkwn 500 -Aug 2025 - Showing 1 of 1 Tenants © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 26 8/27/2025 243 12 2609 W Woolbright Rd Boynton Beach, Florida 33436 (Palm Beach County) - Boynton/Lantana Submarket Retail Contacts Type Name Location Phone Recorded Owner 2609 W Woolbright LLC Boynton Beach, FL 33436 (561) 734-8400 Recorded Owner 2609 W Woolbright Llc Boca Raton, FL 33431 - True Owner Dr. Sohail Shaikh Boynton Beach, FL 33435 (561) 732-2900 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 27 8/27/2025 244 13 1200-1260 S Federal Hwy - Colonial Central Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)34,106 SF (96.5%) Built 1982 Stories 3 Elevators 4 passenger Typical Floor 11,369 SF Tenancy Multiple Available 1,191 SF Max Contiguous 1,191 SF Asking Rent Withheld Parking Spaces 142 (4.16/1,000 SF) Property Details Land Area 1.96 AC (85,378 SF)Owner Occupied Yes Building FAR 0.40 Zoning Commercial Slab to Slab 10' Parcel 08-43-45-27-51-001-2010 (+13 more) For Lease Summary Number of Spaces 1 % Leased 96.5% Smallest Space 1,191 SF Asking Rent Withheld Max Contiguous 1,191 SF Office Available 1,191 SF Vacant 1,191 SF Amenities • 24 Hour Access • Air Conditioning • Bus Line • Courtyard • Direct Elevator Exposure • Drop Ceiling • Fully Carpeted • Kitchen • Partitioned Offices • Reception • Security System • Signage • Waterfront • Yard Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 1260-101 Office Direct 1,191 1,191 1,191 Withheld Vacant 1 - 5 Years Transportation Parking Details 110 Surface Spaces; 14 Reserved Spaces; 18 Covered Spaces; Ratio of 4.16/1,000 SF Traffic Volume 19,949 on Riviera Dr (2025); 11,822 on S Federal Hwy (2025); 40,729 on S Federal Hwy (2025); 21,510 on Greenbriar Dr (2025); 25,779 on SE 15th Ave (2025); 10,093 on E Woolbright Rd (2025); 9,953 on Woolbright Rd (2020); 9,741 on Woolbright Rd (2025); 9,755 on Woolbright Rd (2024); 9,869 on E Woolbright Rd (2024) Commuter Rail Boynton Beach 9 min drive Delray Beach 10 min drive Airport Palm Beach International 22 min drive © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 28 8/27/2025 245 13 1200-1260 S Federal Hwy - Colonial Central Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation (Continued) Walk Score ®Very Walkable (70) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Committed Women's Care PA 2 5,220 34 Sep 2016 - Home With Help Of Florida Inc 1 2,446 2 Dec 2016 - The Beaumont Insurance Agency 1 2,139 5 Jul 2016 - Boynton Beach GE Repair 2 1,891 20 Feb 2018 - P I Associates 3 1,843 12 Oct 2017 - Showing 5 of 17 Tenants Contacts Type Name Location Phone Recorded Owner TGBK Llc Boynton Beach, FL 33435 - True Owner Traylor Gratton & Beaumont, Llc Boynton Beach, FL 33435 (561) 737-7900 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 29 8/27/2025 246 14 1351 S Federal Hwy - One Boynton Boynton Beach, Florida 33435 (Palm Beach County) - Outer Boynton Beach Submarket Apartments Property Summary Units 494 Built 2009 Stories 5 Elevators 9 passenger Market Segment All Vacancy %4.9 Asking Rent Per Unit $2,538 Parking Spaces 980 (1.98/Unit) Commercial Available 1,200 - 9,573 SF Commercial Asking Rent Withheld Property Details Land Area 6.01 AC (261,796 SF)Average Unit Size 1,156 SF Building FAR 2.04 Construction Type Reinforced Concrete Number of Buildings 6 Zoning MU-L Units Per Area 82/AC Parcel 08-43-45-28-45-001-0000 Commercial For Lease Summary Number of Spaces 6 Vacant 9,573 SF Smallest Space 1,200 SF Asking Rent Withheld Max Contiguous 2,466 SF Retail Available 2,466 SF Total Available 9,573 SF Office/Retail Available 7,107 SF Amenities 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 • Wi-Fi • Window Coverings 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 Mix Models Counts Units Available Average Asking Rent Average Effective Rent Concessions Beds Baths Average SF Units Mix %Units Percent Per Unit Per SF Per Unit Per SF % 1 1 789 12 2.4%--$1,829 $2.32 $1,817 $2.30 0.6% © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 30 8/27/2025 247 14 1351 S Federal Hwy - One Boynton Boynton Beach, Florida 33435 (Palm Beach County) - Outer Boynton Beach Submarket Apartments Unit Mix (Continued) Beds Baths Average SF Units Mix %Units Percent Per Unit Per SF Per Unit Per SF % 1 1 890 163 33.0%3 1.8%$2,217 $2.49 $2,204 $2.48 0.6% 1 1 1,032 25 5.1%2 8.0%$2,232 $2.16 $2,218 $2.15 0.6% 2 2 1,103 26 5.3%1 3.9%$2,668 $2.42 $2,651 $2.40 0.6% 2 2 1,153 19 3.8%0 0.0%$2,543 $2.21 $2,527 $2.19 0.6% 2 2 1,222 12 2.4%1 8.3%$2,596 $2.12 $2,580 $2.11 0.6% 2 2 1,227 61 12.3%5 8.2%$2,594 $2.11 $2,578 $2.10 0.6% 2 2 1,262 64 13.0%--$2,792 $2.21 $2,775 $2.20 0.6% 2 2 1,432 8 1.6%0 0.0%$2,787 $1.95 $2,770 $1.93 0.6% 2 2 1,437 18 3.6%0 0.0%$2,742 $1.91 $2,725 $1.90 0.6% 2 2 1,479 2 0.4%1 50.0%$2,733 $1.85 $2,716 $1.84 0.6% 3 2 1,249 24 4.9%1 4.2%$2,897 $2.32 $2,879 $2.31 0.6% 3 2 1,368 22 4.5%0 0.0%$2,956 $2.16 $2,937 $2.15 0.6% 3 2 1,580 14 2.8%0 0.0%$2,882 $1.82 $2,864 $1.81 0.6% 3 2 1,870 3 0.6%--$2,938 $1.57 $2,920 $1.56 0.6% 3 2 2,000 2 0.4%2 100%$3,853 $1.93 $3,829 $1.91 0.6% 3 2.5 2,000 19 3.8%--$3,179 $1.59 $3,159 $1.58 0.6% Totals Average SF Units Mix %Units Percent Per Unit Per SF Per Unit Per SF % All 1 Beds 902 200 40.5%5 2.5%$2,196 $2.44 $2,182 $2.42 0.6% All 2 Beds 1,244 210 42.5%8 3.8%$2,680 $2.16 $2,664 $2.14 0.6% All 3 Beds 1,545 84 17.0%3 3.6%$2,998 $1.94 $2,979 $1.93 0.6% Totals 1,156 494 100%16 32%$2,538 $219 $2,522 $218 06% Unit Mix as of August 27, 2025Estimate Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P GRND A-317 Office/Retail Direct 1,887 1,887 1,887 Withheld Vacant Negotiable P GRND B-1401 Office/Retail Direct 1,552 1,552 1,552 Withheld Vacant Negotiable P GRND B-1501 Office/Retail Direct 1,239 1,239 1,239 Withheld Vacant Negotiable P GRND 1505 Office/Retail Direct 1,229 1,229 1,229 Withheld Vacant Negotiable P GRND A-301 Office/Retail Direct 1,200 1,200 1,200 Withheld Vacant Negotiable © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 31 8/27/2025 248 14 1351 S Federal Hwy - One Boynton Boynton Beach, Florida 33435 (Palm Beach County) - Outer Boynton Beach Submarket Apartments Previous Sale Sale Date 8/25/2021 Sale Type Investment Sale Price $171,000,000 Comp Status Research Complete Comp ID 5663448 Transportation Parking Details 790 Covered Spaces; 190 Surface Spaces; Ratio of 1.98/Unit Traffic Volume 21,328 on Riviera Dr (2025); 40,729 on S Federal Hwy (2025); 11,822 on S Federal Hwy (2025); 25,779 on SE 15th Ave (2025); 26,461 on SE 18th Ave (2025); 10,093 on E Woolbright Rd (2025); 9,953 on Woolbright Rd (2020); 9,741 on Woolbright Rd (2025); 9,755 on Woolbright Rd (2024); 22,106 on SE 1st St (2025) Commuter Rail Boynton Beach 8 min drive Delray Beach 10 min drive Airport Palm Beach International 21 min drive Walk Score ®Very Walkable (73) Commercial Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Baciami Italiano GRND 9,018 50 Aug 2018 - Sweetwater Bar & Grill GRND 9,018 -Nov 2010 - German Beir Garden GRND 5,980 -Mar 2012 - Kabuki Sushi GRND 5,600 -Oct 2021 Oct 2026 Sakura Chop House Inc GRND 5,600 -Feb 2011 - Showing 5 of 20 Tenants Contacts Type Name Location Phone Asset Manager LivCor LLC Chicago, IL 60606 (312) 236-3549 Recorded Owner Blackstone Inc.New York, NY 10154 (212) 583-5000 True Owner Blackstone Inc.New York, NY 10154 (212) 583-5000 Property Management RangeWater - One Boynton Boynton Beach, FL 33435 (844) 559-1017 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 32 8/27/2025 249 15 2623 S Seacrest Blvd - Bethesda Professional Plaza Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Office Property Summary RBA (% Leased)54,187 SF (91.6%) Built 1988 Stories 2 Typical Floor 27,093 SF Tenancy Multiple Available 1,160 - 4,546 SF Max Contiguous 3,386 SF Asking Rent Withheld Parking Spaces 220 (5.00/1,000 SF) Property Details Land Area 3.38 AC (147,233 SF)Owner Occupied No Building FAR 0.37 Zoning C1, Boynton Beach Slab to Slab 12'Parcel 08-43-45-33-10-000-0050 For Lease Summary Number of Spaces 2 % Leased 91.6% Smallest Space 1,160 SF Asking Rent Withheld Max Contiguous 3,386 SF Office/Medical Available 4,546 SF Vacant 4,546 SF Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 100 Office/Medical Direct 3,386 3,386 3,386 Withheld Vacant Negotiable P 2 213 Office/Medical Direct 1,160 1,160 1,160 Withheld Vacant Negotiable Previous Sale Sale Date 6/15/2021 Sale Type Investment Sale Price $6,000,000 Comp Status Research Complete Comp ID 5542472 Transportation Parking Details 220 Surface Spaces; Ratio of 5.00/1,000 SF Traffic Volume 3,075 on SW 23rd Ave (2025); 17,584 on SE 25th Ave (2025); 17,665 on SE 27th Ave (2025); 1,343 on S Seacrest Blvd (2025); 16,794 on SE 23rd Ave (2025); 13,028 on SW 26th Ave (2025); 13,119 on SW 26th Ave (2025); 13,138 on SW 26th Ave (2024); 20,447 on SE 27th Ave (2025); 13,470 on SW 1st St (2025) Commuter Rail Boynton Beach 9 min drive Delray Beach 10 min drive Airport Palm Beach International 22 min drive Walk Score ®Car-Dependent (45) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 33 8/27/2025 250 15 2623 S Seacrest Blvd - Bethesda Professional Plaza Boynton Beach, Florida 33435 (Palm Beach County) - Delray Beach Submarket Office Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration GenesisCare Unkwn 8,000 53 Aug 2021 - Baptist Health South Florida 1 2,922 19 Jun 2017 - Leslie F Coughlan, NP PA 1 1,390 3 Apr 2014 - Quest Diagnostics 1 1,375 1 Jun 2011 - Pulmonary Specialists 2 1,350 9 Jul 2016 - Showing 5 of 13 Tenants Contacts Type Name Location Phone Fund AW Medical Office Fund IV -- Recorded Owner AW Real Estate Management LLC Palm Beach Gardens, FL 33408 (561) 687-5800 True Owner AW Real Estate Management LLC Palm Beach Gardens, FL 33408 (561) 687-5800 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 34 8/27/2025 251 16 1700 W Woolbright Rd - Woolbright Medical Plaza Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)16,746 SF (100%) Built 2000 Stories 2 Elevators 1 passenger Typical Floor 8,148 SF Tenancy Multiple Available 2,712 SF Max Contiguous 2,712 SF Asking Rent Withheld Parking Spaces 110 (6.00/1,000 SF) Property Details Land Area 1.35 AC (58,806 SF)Owner Occupied No Building FAR 0.28 Zoning C1 Slab to Slab 12'Parcel 08-43-45-32-04-126-0000 For Lease Summary Number of Spaces 1 % Leased 100% Smallest Space 2,712 SF Asking Rent Withheld Max Contiguous 2,712 SF Office Available 2,712 SF Vacant 0 SF Amenities • Banking • Signage Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 2 6 Office Sublet 2,712 2,712 2,712 Withheld 90 Days Thru Aug 2029 Previous Sale Sale Date 9/21/2022 Sale Type Investment Sale Price $5,562,245 Comp Status Research Complete Comp ID 6158551 Transportation Parking Details 110 Surface Spaces; Ratio of 6.00/1,000 SF Traffic Volume 44,214 on SW 18th St (2025); 29,700 on SW 15th Ave (2025); 6,608 on SW 8th St (2025); 29,516 on SW 18th St (2025); 2,513 on SW 15th Ave (2025); 1,579 on SW 15th Ave (2025); 27,905 on SW 18th St (2025); 9,742 on Pinehurst Dr (2025); 41,662 on I- 95 (2025); 11,240 on Not Available (2020) Commuter Rail Boynton Beach 8 min drive Delray Beach 8 min drive © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 35 8/27/2025 252 16 1700 W Woolbright Rd - Woolbright Medical Plaza Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation (Continued) Airport Palm Beach International 21 min drive Walk Score ®Somewhat Walkable (59) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration MRI Specialists 2 2,895 12 Jan 2004 - JPS Accounting & Tax Advisory 1 2,587 2 May 2017 - Aqua Dental 1 2,585 -Mar 2013 - Showing 3 of 3 Tenants Contacts Type Name Location Phone Fund AW Medical Office Fund IV -- Recorded Owner Aw Woolbright Llc North Palm Beach, FL 33408 - True Owner AW Real Estate Management LLC Palm Beach Gardens, FL 33408 (561) 687-5800 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 36 8/27/2025 253 17 215 NW 3rd St Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)1,564 SF (11.6%) Built 1955 Stories 1 Typical Floor 1,564 SF Tenancy Multiple Available 1,383 SF Max Contiguous 1,383 SF Asking Rent $3.25 SF/Month/NNN Parking Spaces 6 (3.84/1,000 SF) Property Details Land Area 0.29 AC (12,541 SF)Zoning C2 Building FAR 0.12 Parcel 08-43-45-28-10-001-0031 Owner Occupied No For Lease Summary Number of Spaces 1 % Leased 11.6% Smallest Space 1,383 SF Asking Rent $3.25 SF/Month Max Contiguous 1,383 SF Service Type Triple Net Vacant 1,383 SF Office Available 1,383 SF Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 -Office Direct 1,383 1,383 1,383 $3.25 NNN Vacant Negotiable Previous Sale Sale Date 11/12/2021 Comp ID 5794161 Sale Price $620,000 Comp Status Public Record Transportation Parking Details 6 Surface Spaces; Ratio of 3.84/1,000 SF Traffic Volume 32,774 on NW 4th St (2025); 30,629 on NW 3rd St (2025); 33,051 on NW 4th St (2025); 10,668 on W Ocean Ave (2025); 11,141 on W Ocean Ave (2025); 11,372 on I- 95 (2024); 31,921 on I- 95 (2025); 20,115 on N Seacrest Blvd (2025); 38,625 on I- 95 (2025); 10,154 on W Boynton Beach Blvd (2025) Commuter Rail Boynton Beach 6 min drive Delray Beach 10 min drive Airport Palm Beach International 20 min drive Walk Score ®Very Walkable (70) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 37 8/27/2025 254 17 215 NW 3rd St Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Final Touch Renovations 1 181 -Dec 2022 - Showing 1 of 1 Tenants Contacts Type Name Location Phone Recorded Owner 3139 Lake Shore Dr Llc Palm Springs, FL 33461 - © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 38 8/27/2025 255 18 127 Boynton Beach Blvd Boynton Beach, Florida 33435 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)3,096 SF (65.2%) Built 2019 Stories 1 Typical Floor 3,096 SF Tenancy Multiple Available 1,079 SF Max Contiguous 1,079 SF Asking Rent $3.75 SF/Month/MG Parking Spaces 10 (3.23/1,000 SF) Property Details Land Area 0.15 AC (6,534 SF)Zoning C2 Building FAR 0.47 Parcel 08-43-45-21-07-001-1000 Owner Occupied No For Lease Summary Number of Spaces 1 % Leased 65.2% Smallest Space 1,079 SF Asking Rent $3.75 SF/Month Max Contiguous 1,079 SF Service Type Modified Gross Vacant 1,079 SF Office Available 1,079 SF Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term E 1 127 Office Direct 1,079 1,079 1,079 $3.75 MG Vacant Negotiable Transportation Parking Details 10 Surface Spaces; Ratio of 3.23/1,000 SF Traffic Volume 20,115 on N Seacrest Blvd (2025); 10,819 on W Boynton Beach Blvd (2025); 11,906 on NE 1st Ave (2025); 15,761 on NE 1st St (2025); 12,903 on SW 1st Ave (2025); 13,052 on NE 5th Ave (2025); 20,505 on NE 3rd St (2025); 18,400 on NE 3rd St (2022); 30,629 on NW 3rd St (2025) Commuter Rail Boynton Beach 6 min drive Delray Beach 10 min drive Airport Palm Beach International 19 min drive Walk Score ®Very Walkable (78) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 39 8/27/2025 256 19 1701-1797 N Congress Ave - Catalina Centre Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Retail Property Summary Center Type Community Center GLA (% Leased)143,328 SF (100%) Built 1988 Tenancy Multiple Available 1,390 - 40,188 SF Max Contiguous 35,183 SF Asking Rent $2.50 SF/Month/NNN Parking Spaces 755 (5.27/1,000 SF) Frontage N Congress Ave Property Details Land Area 11.87 AC (517,057 SF)Zoning C3 Building FAR 0.28 Parcel 08-43-45-18-08-002-0000 For Lease Summary Number of Spaces 4 % Leased 100% Smallest Space 1,390 SF Asking Rent $2.50 SF/Month Max Contiguous 35,183 SF Service Type Triple Net Total Available 40,188 SF Retail Available 5,005 SF Vacant 35,183 SF Office/Retail Available 35,183 SF Amenities • Pylon Sign • Signage Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 1743 Office/Retail Sublet 35,183 35,183 35,183 Withheld Vacant Thru Jul 2026 Previous Sale Sale Date 12/23/2002 Sale Type Investment Sale Price $19,500,000 Comp Status Research Complete Comp ID 716889 Actual Cap Rate 8.5% Transportation Parking Details 755 Surface Spaces; Ratio of 5.27/1,000 SF Traffic Volume 35,880 on Catalina Centre North Dr (2025); 4,740 on N Congress Ave (2025); 4,435 on PkTer (2025); 37,335 on Renaissance Way (2025); 34,618 on Gateway Blvd (2025); 32,816 on Mahogany Dr (2025); 28,375 on N Congress Ave (2025); 28,185 on Gateway Blvd (2025); 36,565 on Savannah Lakes D (2023); 37,232 on Savannah Lakes Dr (2025) © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 40 8/27/2025 257 19 1701-1797 N Congress Ave - Catalina Centre Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Retail Transportation (Continued) Commuter Rail Boynton Beach 6 min drive Lake Worth 13 min drive Airport Palm Beach International 21 min drive Walk Score ®Very Walkable (73) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Sky Zone 1 32,000 15 Mar 2023 Mar 2033 Eos Fitness 1 30,000 -Aug 2025 - Southeastern College 1 20,000 50 Jan 2025 - The Tax Pros 1 15,000 3 Sep 2018 - Salons By JC 1 6,600 -Sep 2023 Sep 2033 Showing 5 of 16 Tenants Contacts Type Name Location Phone Developer Portsmouth Corporate Financial Services, Inc. Portsmouth, NH 03801 (603) 559-2100 Recorded Owner Catalina Shoppes Fla Llc New York, NY 10021 - True Owner Roberts Equities, LLC Boca Raton, FL 33434 (212) 734-0500 Property Management Tulepan Management Coral Springs, FL 33076 (954) 603-0455 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 41 8/27/2025 258 20 1880 N Congress Ave - Compson Place Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)138,728 SF (90.7%) Built 2008 Stories 4 Elevators 2 passenger Typical Floor 34,682 SF Tenancy Multiple Available 1,577 - 11,468 SF Max Contiguous 9,891 SF Asking Rent $1.67 SF/Month/NNN Parking Spaces 250 (1.80/1,000 SF) Property Details Land Area 10.79 AC (470,012 SF)Owner Occupied No Building FAR 0.30 Zoning SMU Parcel 08-43-45-17-20-001-1000 (+1 more) For Lease Summary Number of Spaces 2 % Leased 90.7% Smallest Space 1,577 SF Asking Rent $1.67 SF/Month Max Contiguous 9,891 SF Service Type Triple Net Vacant 12,953 SF Office Available 11,468 SF Amenities • 24 Hour Access • Air Conditioning • Atrium • Property Manager on Site • Restaurant Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 2 202-203 Office Direct 4,746 - 9,891 9,891 9,891 Withheld Vacant Negotiable P 3 302B-K Office Direct 1,577 1,577 1,577 $1.67 NNN Vacant Negotiable For Sale Summary Asking Price $669,000 Condo Type Office Status Active Condo Size 1,485 SF Asking Price Per Area $450.51/SF On Market 90 Days Sale Type Investment or Owner User Last Update August 11, 2025 Total Condos for Sale 1 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 42 8/27/2025 259 20 1880 N Congress Ave - Compson Place Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation Parking Details 100 Covered Spaces; 150 Surface Spaces; Ratio of 1.80/1,000 SF Traffic Volume 34,618 on Gateway Blvd (2025); 28,375 on N Congress Ave (2025); 28,185 on Gateway Blvd (2025); 36,518 on Renaissance Commons Blvd (2025); 5,311 on Gateway Blvd (2025); 28,447 on Quantum Blvd (2025); 32,816 on Mahogany Dr (2025); 35,880 on Catalina Centre North Dr (2025); 3,782 on N Congress Ave (2025); 42,184 on Quantum Lakes Dr (2019) Commuter Rail Boynton Beach 5 min drive Lake Worth 12 min drive Airport Palm Beach International 19 min drive Walk Score ®Very Walkable (75) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Bonefish Grill 1 5,136 70 Mar 2010 - AT&T Wireless 1 4,110 30 Nov 2008 - First Watch 1 3,500 -Jun 2023 - PizzaRox 1 2,628 6 Jun 2015 - PayMaster, Inc.2 2,365 20 Jan 2020 - Showing 5 of 41 Tenants Contacts Type Name Location Phone Property Management Stiles Property Management West Palm Beach, FL 33401 - © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 43 8/27/2025 260 21 1901 S Congress Ave - Woolbright Corporate I Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Property Summary RBA (% Leased)52,960 SF (96.9%) Built 1983 Stories 4 Elevators 2 passenger Typical Floor 13,240 SF Tenancy Multiple Available 1,667 SF Max Contiguous 1,667 SF Asking Rent $1.75 SF/Month/NNN Parking Spaces 189 (3.57/1,000 SF) Property Details Land Area 2.87 AC (125,017 SF)Owner Occupied No Building FAR 0.42 Zoning C-3 Slab to Slab 11'Parcel 08-43-45-31-17-003-0000 For Lease Summary Number of Spaces 1 Asking Rent $1.75 SF/Month Smallest Space 1,667 SF Service Type Triple Net Max Contiguous 1,667 SF CAM $0.83/SF Vacant 1,667 SF Office Available 1,667 SF % Leased 96.9% Amenities • 24 Hour Access • Air Conditioning • Property Manager on Site • Security System • Signage • Waterfront Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 110 Office Direct 1,667 1,667 1,667 $1.75 NNN Vacant 3 - 10 Years Previous Sale Sale Date 9/26/2014 Sale Type Investment Sale Price $2,983,365 Comp Status Research Complete Comp ID 3127580 Sale Conditions Bulk/Portfolio Sale +1 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 44 8/27/2025 261 21 1901 S Congress Ave - Woolbright Corporate I Boynton Beach, Florida 33426 (Palm Beach County) - Boynton/Lantana Submarket Office Transportation Parking Details 189 Surface Spaces; Ratio of 3.57/1,000 SF Traffic Volume 1,449 on S Congress Ave (2025); 34,392 on SW 19th Ave (2025); 1,225 on 24th Cir (2025); 36,295 on SW 23rd Ave (2025); 25,293 on SW 15th Ave (2025); 26,808 on W Woolbright Rd (2025); 24,816 on SW Congress Blvd (2025); 38,293 on SW 23rd Ave (2025); 33,157 on SW Congress Blvd (2019); 12,180 on Congress Ave (2025) Commuter Rail Delray Beach 8 min drive Boynton Beach 9 min drive Airport Palm Beach International 23 min drive Walk Score ®Car-Dependent (44) Tenants Tenant Name Floor SF Occupied Employees Move Date Expiration Vitas Healthcare 4 7,618 25 Jul 2021 Jul 2026 Rezzonico, Eagan PLLC 2 1,837 7 Aug 2011 - Webb CPA, P.A.1 1,667 -Feb 2024 Feb 2036 Todd Pinchevsky, CPA 2 1,219 8 Jul 2018 - Limited Signature 2 1,115 -May 2025 May 2028 Showing 5 of 12 Tenants Contacts Type Name Location Phone Recorded Owner Congress Properties & Investments, LLC -- True Owner Kendall Properties Davie, FL 33329 (954) 763-8111 Property Management Louja Realty, Inc.Boynton Beach, FL 33426 (561) 364-5500 © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 45 8/27/2025 262 22 Knuth& Boynton Beach Blvd Boynton Beach, Florida 33424 (Palm Beach County) - Outer Boynton Beach Submarket Apartments Property Summary Units 262 Status Under Construction Built August 2026 Stories 3 Elevators Walk Up Market Segment All Commercial Available 1,177 - 5,200 SF Commercial Asking Rent $5.00 SF/Month/MG Property Details Land Area 12.51 AC (544,936 SF)Construction Type Reinforced Concrete Building FAR 0.36 Zoning P.C.D. Number of Buildings 11 Parcel 08-43-45-30-24-000-0020 Units Per Area 21/AC Commercial For Lease Summary Number of Spaces 4 Asking Rent $5.00 SF/Month Smallest Space 1,177 SF Service Type Modified Gross Max Contiguous 2,821 SF Retail Available 1,537 SF Total Available 5,200 SF Office/Retail Available 3,663 SF Vacant 0 SF Amenities Unit Amenities • Air Conditioning • Heating • Kitchen • Oven • Tub/Shower Site Amenities • 24 Hour Access • Clubhouse • Online Services • Pool • Smoke Detector • Tenant Controlled HVAC • Walk-Up Unit Mix Models Counts Units Available Average Asking Rent Average Effective Rent Concessions Beds Baths Average SF Units Mix %Units Percent Per Unit Per SF Per Unit Per SF % Studio 1 -75 28.6%------- 1 1 -125 47.7%------- 2 1 -62 23.7%------- Totals Average SF Units Mix %Units Percent Per Unit Per SF Per Unit Per SF % All Studios -75 28.6%------- All 1 Beds -125 47.7%------- All 2 Beds -62 23.7%------- Totals -262 100%------- © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 46 8/27/2025 263 22 Knuth& Boynton Beach Blvd Boynton Beach, Florida 33424 (Palm Beach County) - Outer Boynton Beach Submarket Apartments Unit Mix (Continued) Unit Mix as of August 9, 2025Estimate Available Spaces Floor Suite Use Type SF Available Floor Contiguous Building Contiguous Rent/SF/Month Occupancy Term P 1 1 Office/Retail Direct 1,284 2,821 2,821 $5.00 MG 12/2025 Negotiable P 1 4 Office/Retail Direct 1,202 2,379 2,379 $5.00 MG 08/2026 Negotiable P 1 3 Office/Retail Direct 1,177 2,379 2,379 $5.00 MG 08/2026 Negotiable Transportation Traffic Volume 42,386 on Oakwood Lakes Dr (2025); 18,027 on Knuth Rd (2025); 7,846 on Greentrail Dr N (2025); 8,422 on Greentrail Dr N (2019); 38,769 on Lawrence Rd (2025); 39,966 on Lawrence Rd (2025); 15,248 on NW 2nd Ave (2025); 37,844 on 31st Ter S (2025); 12,184 on W Boynton Beach (2025) Commuter Rail Boynton Beach 8 min drive Delray Beach 11 min drive Airport Palm Beach International 22 min drive Walk Score ®Somewhat Walkable (55) Contacts Type Name Location Phone Developer TM Real Estate Group, LLC Coconut Grove, FL 33133 (305) 854-2552 Recorded Owner Sbb 250 Spe Llc Miami, FL 33133 - © 2025 CoStar Group - Licensed to Coldwell Banker Residential - 1062102 Page 47 8/27/2025 264 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 ANNOUNCEMENTS AND AWARDS AGENDA ITEM 9.A SUBJECT: Bon Appetit Boynton Beach Announcement SUMMARY: Bon Appétit Boynton Beach is a curated dining experience that highlights some of the diverse flavors and culinary talent found throughout eastern Boynton Beach. From chef-driven tasting menus to walking food tours, each installment offers a unique opportunity to explore the city's best local restaurants—one bite at a time. Each Bon Appétit Boynton Beach event showcases a specially crafted pre-fixe menu or multi- stop tasting experience, giving guests a flavorful journey through the creativity and passion of Boynton’s top chefs and food artisans. Food Tours Community members are invited to enjoy a progressive tasting experience and support local businesses in Downtown Boynton Beach on September 6 and September 13, from 11:00 AM to 1:30 PM. The cost of the food tour is $25 per person and includes tastings at four restaurants and a sweet treat from a chocolatier. Featured businesses include: The Butcher & The Bar Hurricane Alley Paloma Sushi Jo Scheurer's Chocolate Prix Fixe Dining Experiences Community members can purchase $35 tickets to enjoy prix fixe menus at the restaurant of their choice on select Thursdays in September. All experiences begin at 6:00 PM. Driftwood - September 4 ROK Prime Korean BBQ - September 11 Sushi Jo - September 18 Nicholson Muir - September 18 265 •Attachment I - Marketing Graphic See Attachment I for print graphic that was used to advertise the promotions . FISCAL IMPACT: FY 2024-2025 Budget, Project Fund, Line Item 02-58500-480 - $58,000 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 266 SEPTEMBER 6SEPTEMBER 6 AND 13 AND 13THTH THTH 11:00 AM - 1:30 PM11:00 AM - 1:30 PM $25 PER PERSON$25 PER PERSON 6:00 PM6:00 PM $35 PER PERSON$35 PER PERSON PRIX FIXE MENUSPRIX FIXE MENUSPRIX FIXE MENUS FOOD TOURSFOOD TOURSFOOD TOURS BOYNTONBEACHCRA.COM S E P T E M B E R 4 - N I C H O L S O N M U I R & D R I F T W O O DTH S E P T E M B E R 11 - ROK P R I M E K O R E A N BBQTH S E P T E M B E R 18 - S U S H I J OTH BUYTICKETS T H E B U T C H E R & T H E B A R - H U R R I C A N E A L L E Y P A L O M A - S U S H I J O - S C H E U R E R ’S C H O C O L AT E TWOTWOTWO EXPERIENCE THE FLAVORS OF EASTERN BOYNTON BEACH WITH TWO UNIQUE EXPERIENCES 267 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 ANNOUNCEMENTS AND AWARDS AGENDA ITEM 9.B SUBJECT: 2025 Florida Festivals & Events Association SUNsational Awards SUMMARY: The Florida Festivals & Events Association (FFEA) recently announced the winners of its annual SUNsational Awards on August 13, 2025, during their 31st Annual Convention and Tradeshow. The program recognizes members' innovation, individuality, and creative collaboration. Nominations were accepted in eight categories: Printed Materials, Outdoor Advertising, PR/Media Campaign, Photo, Promotional Item/T-shirt, Multimedia Marketing, Adapted/Virtual Event and Programming. Each category included three budget levels: $49,999 and under $50,000 - $249,999 $250,000 and over More than 200 events, from FFEA members located throughout the state, submitted their materials for consideration. Staff is pleased to share that the BBCRA received the following accolades: 2nd Plac e Boynton Beach Spring Market Photo Opp Area Snapshots with Santa Promotional Mailer 3rd Place Boynton Beach Spring Market Overall Event Theme & Branding Boynton Beach Night Market Photo Please see Attachment I for an overview of 2025 SUNsational Awards. 268 •Attachment I - 2025 FFEA SunSational Awards FISCAL IMPACT: FY 2024-2025 Budget, General Fund, Line Item 01-51010-216, $540 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan (pages 128 – 131) CRA BOARD OPTIONS: No action is required at this time unless otherwise determined by the CRA Board. ATTACHMENTS: Description 269 FLORIDA FESTIVALS & EVENTS ASSOCIATION SUNSATIONAL AWARDS 270 2ND PLACE AWARDS SPRING MARKET PHOTO OPP AREA SNAPSHOTS WITH SANTA PROMOTIONAL MAILER 271 PHOTO OPP AREA 272 PROMOTIONAL MAILER 273 3RD PLACE AWARDS SPRING MARKET OVERALL EVENT THEME & BRANDING NIGHT MARKET PHOTO 274 OVERALL EVENT THEME & BRANDING 275 EVENT PHOTO 276 •Attachment I - August 2025 Financial Summary COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.A SUBJECT: CRA Financial Report Period Ending August 31, 2025 SUMMARY: CRA Financial Services staff is providing the CRA Board with the August 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 August 31, 2025. ATTACHMENTS: Description 277 General Fund Projects Fund Debt Service Fund Total Governmental Funds REVENUES Tax increment revenue 24,487,029 - - 24,487,029 Marina Rent & Fuel Sales 2,055,545 - - 2,055,545 Contributions and donations - - - - Interest and other income 216,412 3,988,012 37,687 4,242,111 Total revenues 26,758,986 3,988,012 37,687 30,784,685 EXPENDITURES General government 3,916,345 - - 3,916,345 Redevelopment projects - 8,685,414 - 8,685,414 Debt service:- Principal - - - - Interest and other charges - - 60,062 60,062 Total expenditures 3,916,345 8,685,414 60,062 12,661,821 22,842,641 (4,697,402) (22,375) 18,122,864 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 814,865 15,012,949 2,295,050 18,122,864 Fund balances - beginning of year 4,869,740 19,070,941 230,912 24,171,593 Fund balances - end of year 5,684,605 34,083,890 2,525,962 42,294,457 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 - August 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. 1 278 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 2,055,545 Interest and other income - - 216,412 Other financing sources (uses) - 2,118,706 - Total revenues 25,579,354 27,698,060 26,758,986 EXPENDITURES General government 5,670,284 5,670,284 3,916,345 Total expenditures 5,670,284 5,670,284 3,916,345 19,909,070 22,027,776 22,842,641 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 -$ -$ 814,865 Fund balances - beginning of year 4,869,740 Fund balances - end of year 5,684,605 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 - August 31, 2025 The notes to the basic financial statements are an integral part of this statement. 1 279 9/2/2025 3:26:53 PM Page 1 of 5 Detail vs Budget Report Boynton Beach CRA, FL Account Summary Date Range: 08/01/2025 - 08/31/2025 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 36,620.90-136,620.90-12,564.00-124,056.90-100,000.000.00 36.62% 01-42116 MISCELLANEOUS RENTS FRO PROPER 240,132.51-240,132.51-17,350.00-222,782.510.000.00 0.00% 01-42117 MARINA FUEL SALES 437,460.59-1,637,460.59-130,895.51-1,506,565.08-1,200,000.000.00 36.46% 01-42118 MARINA MISC INCOME 41,331.14-41,331.14702.31-42,033.450.000.00 0.00% 01-46100 INTEREST INCOME 103,161.99-103,161.99-3,982.31-99,179.680.000.00 0.00% 01-47200 IN KIND REVENUE 106,020.53-106,020.530.00-106,020.530.000.00 0.00% 01-48100 MISCELLANEOUS INCOME 7,229.71-7,229.71-49.10-7,180.610.000.00 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 -26,594,847.76 -164,138.61 -26,758,986.37 -939,073.63 -3.39% Expense 01-51010-200 CONTRACTUAL EXPENSE 21,587.296,338.701,543.904,794.8026,842.09-1,083.90 80.42% 01-51010-216 ADVERTISING & PUBLIC NOTICES 10,000.000.000.000.0010,000.000.00 100.00% 01-51010-225 ASSOC. MEETINGS & SEMINARS 22,240.376,759.632,166.684,592.9529,000.000.00 76.69% 01-51010-227 DELIVERY SERVICES 361.00139.000.00139.00500.000.00 72.20% 01-51010-310 OFFICE SUPPLIES 232.68567.3231.51535.81800.000.00 29.09% 01-51230-100 PERSONNEL SERVICES 276,924.51266,565.4923,850.01242,715.48543,490.000.00 50.95% 01-51230-115 CAR ALLOWANCE 5,009.684,590.32461.544,128.789,600.000.00 52.18% 01-51230-225 ASSOC. MEETINGS & SEMINARS 16,138.70361.300.00361.3016,500.000.00 97.81% 01-51230-226 MEMBERSHIP DUES 7,638.1710,761.832,000.008,761.8318,400.000.00 41.51% 01-51230-227 DELIVERY SERVICES 500.000.000.000.00500.000.00 100.00% 01-51230-229 CAREER DEVELOPMENT 16,082.623,417.382,895.00522.3819,500.000.00 82.47% 01-51230-310 OFFICE SUPPLIES 2,815.78-315.7870.62-386.402,500.000.00 112.63% 01-51230-315 POSTAGE 2,600.75399.250.00399.253,000.000.00 86.69% 01-51230-340 CELLULAR PHONES 951.831,048.1796.51951.662,000.000.00 47.59% 01-51230-355 SUBSCRIPTIONS 1,395.00305.000.00305.001,700.000.00 82.06% 01-51230-360 BOOKS & PUBLICATIONS 300.000.000.000.00300.000.00 100.00% 01-51230-400 EQUIPMENT COSTS 2,547.681,452.320.001,452.324,000.000.00 63.69% 01-51325-100 PERSONNEL SERVICES 22,349.70246,105.3020,650.40225,454.90268,455.000.00 8.33% 01-51325-115 CAR ALLOWANCE 318.503,281.50276.923,004.583,600.000.00 8.85% 01-51325-200 CONTRACTUAL EXPENSE 125.00175.000.00175.00300.000.00 41.67% 01-51325-201 BANK FEES 5,693.00307.0014.06292.946,000.000.00 94.88% 01-51325-225 ASSOC. MEETINGS & SEMINARS 8,165.621,134.380.001,134.389,300.000.00 87.80% 01-51325-226 MEMBERSHIP DUES 1,396.66303.340.00303.341,700.000.00 82.16% 01-51325-227 DELIVERY COSTS 252.2647.740.0047.74300.000.00 84.09% 280 Detail vs Budget Report Date Range: 08/01/2025 - 08/31/2025 9/2/2025 3:26:53 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 1,260.93739.07156.19582.882,000.000.00 63.05% 01-51325-340 CELLULAR PHONES 951.831,048.1796.51951.662,000.000.00 47.59% 01-51325-355 SUBSCRIPTIONS 1,002.002,998.001,499.001,499.004,000.000.00 25.05% 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 194,999.13205,494.87-9,847.00215,341.87400,494.000.00 48.69% 01-51420-200 CONTRACTUAL EXPENSE 31,756.5836,243.420.0036,243.4268,000.000.00 46.70% 01-51420-201 CONTRACT LEGAL 77,265.50136,734.5011,440.00125,294.50207,000.00-7,000.00 37.33% 01-51420-202 WEBSITE HOSTING, REDESIGN & MAINT 31,663.6725,331.572,508.3522,823.2254,486.89-2,508.35 58.11% 01-51420-204 CITY STAFF COSTS 32,824.006,672.000.006,672.0039,496.000.00 83.11% 01-51440-100 PERSONNEL SERVICES 15,790.04210,818.9621,122.33189,696.63226,609.000.00 6.97% 01-51440-225 ASSOC. MEETINGS & SEMINARS 2,519.523,180.481,378.661,801.825,700.000.00 44.20% 01-51440-226 MEMBERSHIP DUES 896.06803.940.00803.941,700.000.00 52.71% 01-51440-227 DELIVERY SERVICES 351.53248.4731.44217.03600.000.00 58.59% 01-51440-229 CAREER DEVELOPMENT 15,218.42781.5899.00682.5816,000.000.00 95.12% 01-51440-310 OFFICE SUPPLIES 1,253.32746.6899.86646.822,000.000.00 62.67% 01-51440-340 CELLULAR PHONES 237.00963.0090.00873.001,200.000.00 19.75% 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 96,403.31108,467.903,438.00105,029.90204,871.210.00 47.06% 01-51620-202 MARINA POLICE 30,039.2133,942.013,229.2830,712.7360,751.94-3,229.28 49.45% 01-51620-205 RENTAL OF OFFICES 8,188.2521,811.750.0021,811.7530,000.000.00 27.29% 01-51620-208 EQUIPMENT LEASES 7,887.064,571.49458.554,112.9412,000.00-458.55 65.73% 01-51620-209 PROPERTY MAINTENENCE COST 358,920.98121,118.522,043.29119,075.23531,327.0051,287.50 67.55% 01-51620-210 IN KIND EXPENSE -106,020.53106,020.530.00106,020.530.000.00 0.00% 01-51620-211 VEHICLE MAINTENANCE / FUEL 7,089.832,910.1739.592,870.5810,000.000.00 70.90% 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 23,381.246,618.7692.526,526.2430,000.000.00 77.94% 01-51620-326 WATER CHARGES 19,895.555,104.45203.104,901.3525,000.000.00 79.58% 01-51630-200 CONTRACTUAL 150.00450.000.00450.00600.000.00 25.00% 01-51630-209 PROPERTY MAINTENENCE 24,411.4795,588.539,310.3586,278.18120,000.000.00 20.34% 01-51630-241 MARINA FUEL MANAGEMENT 24,564.33220,435.6720,012.34200,423.33245,000.000.00 10.03% 01-51630-242 MARINE FUEL STATION OVERHEAD 18,179.1041,820.904,404.8337,416.0760,000.000.00 30.30% 01-51630-310 OFFICE SUPPLIES 783.34416.660.00416.661,200.000.00 65.28% 01-51630-325 ELECTRIC COSTS 6,494.719,505.29974.588,530.7116,000.000.00 40.59% 01-51630-326 WATER COSTS 216.929,783.082,093.127,689.9610,000.000.00 2.17% 01-51630-327 GASOLINE & DEISEL FUEL PURCHAS -331,863.201,159,063.2086,600.641,072,462.56827,200.000.00 -40.12% 01-51630-328 MARINA DIESEL SALES TAX 7,412.7112,587.291,084.6111,502.6820,000.000.00 37.06% 01-51650-200 CONTRACTUAL EXPENSE 1,640.10159.900.00159.901,800.000.00 91.12% 281 Detail vs Budget Report Date Range: 08/01/2025 - 08/31/2025 9/2/2025 3:26:53 PM Page 3 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 01-51650-210 CITY IT SUPPORT 11,555.0023,445.000.0023,445.0035,000.000.00 33.01% 01-51650-211 COMPUTER SOFTWARE & LICENSES 6,000.000.000.000.006,000.000.00 100.00% 01-51650-212 FINANCIAL SOFTWARE MAINTENANCE 15,704.3026,355.700.0026,355.7042,060.000.00 37.34% 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 31,586.28134,568.7210,858.00123,710.72166,155.000.00 19.01% 01-57400-216 ADVERTISING & PUBLIC NOTICES 24,705.9424,294.06450.0023,844.0649,000.000.00 50.42% 01-57400-218 ANNUAL REPORT & BROCHURES 4,920.0080.000.0080.005,000.000.00 98.40% 01-57400-225 ASSOC. MEETINGS & SEMINARS 8,894.573,105.432,460.85644.5812,000.000.00 74.12% 01-57400-226 MEMBERSHIP DUES 8,716.661,983.340.001,983.3410,700.000.00 81.46% 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 16,500.003,500.000.003,500.0020,000.000.00 82.50% 01-57400-310 OFFICE SUPPLIES 1,438.97561.0333.03528.002,000.000.00 71.95% 01-57400-340 CELLULAR PHONES 493.991,506.01127.421,378.592,000.000.00 24.70% 01-57400-355 SUBSCRIPTIONS 1,408.14691.860.00691.862,100.000.00 67.05% 01-57400-360 BOOKS & PUBLICATIONS 500.000.000.000.00500.000.00 100.00% 01-57400-365 OFFICE PRINTING COSTS 2,728.121,271.880.001,271.884,000.000.00 68.20% 01-57500-100 PERSONNEL SERVICES 56,270.62109,950.3812,387.5297,562.86166,221.000.00 33.85% 01-57500-225 ASSOC. MEETINGS & SEMINARS 9,605.00395.000.00395.0010,000.000.00 96.05% 01-57500-226 MEMBERSHIP DUES 1,706.67893.330.00893.332,600.000.00 65.64% 01-57500-229 CAREER DEVELOPMENT 11,695.25304.750.00304.7512,000.000.00 97.46% 01-57500-310 OFFICE SUPPLIES 1,508.67491.3333.03458.302,000.000.00 75.43% 01-57500-340 CELLULAR PHONES 118.50481.5045.00436.50600.000.00 19.75% 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.22,140.6357,859.375,363.0852,496.2980,000.000.00 27.68% 01-59000-152 MEDICARE 11,073.5513,926.451,254.2712,672.1825,000.000.00 44.29% 01-59000-153 RETIREMENT PLAN 401(a)85,218.00264,782.0021,229.00243,553.00350,000.000.00 24.35% 01-59000-154 WORKERS COMP INSURANCE 13,375.751,624.250.001,624.2515,000.000.00 89.17% 01-59000-155 HEALTH INSURANCE 120,099.0779,900.9323,818.6156,082.32200,000.000.00 60.05% 01-59000-156 DENTAL INSURANCE 6,374.443,625.56329.593,295.9710,000.000.00 63.74% 01-59000-157 LIFE INSURANCE 9,262.00738.0072.00666.0010,000.000.00 92.62% 01-59000-158 SHORT / LONG TERM DISABILITY 3,626.926,373.08531.095,841.9910,000.000.00 36.27% 01-59000-159 UNEMPLOYMENT CHARGES 5,000.000.000.000.005,000.000.00 100.00% 01-59000-160 VISION INSURANCE 2,546.80453.2041.20412.003,000.000.00 84.89% 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:37,007.42 27,777,835.13 25,648,370.94 295,749.98 25,944,120.92 1,796,706.79 6.47% 01 - GENERAL FUND Totals:37,007.42 79,775.13 -946,476.82 131,611.37 -814,865.45 857,633.16 02 - PROJECTS FUND 282 Detail vs Budget Report Date Range: 08/01/2025 - 08/31/2025 9/2/2025 3:26:53 PM Page 4 of 5 Account Name Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining Revenue 02-44100 FESTIVAL & EVENT INCOME 41,661.98-41,661.98-8,535.96-33,126.020.000.00 0.00% 02-46100 INTEREST INCOME 633,368.24-633,368.24-64,011.38-569,356.860.000.00 0.00% 02-47100 APPLICATION FEES 1,900.00-1,900.00-100.00-1,800.000.000.00 0.00% 02-48100 MISCELLANEOUS INCOME 3,311,081.84-3,311,081.843,384.99-3,314,466.830.000.00 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 -23,629,100.71 -69,262.35 -23,698,363.06 -4,199,285.94 -15.05% Expense 02-58100-202 CONTINGENCY EXPENSE 200,000.000.000.000.00200,000.000.00 100.00% 02-58100-203 CONTRACTUAL EXPENSE 988,895.0455,954.967,200.0048,754.961,051,150.006,300.00 94.08% 02-58100-213 LEGAL FEES 0.00223,661.5018,753.00204,908.50285,389.0061,727.50 0.00% 02-58200-401 PROPERTY PURCHASES 305,840.262,246,935.34250,000.001,996,935.348,778,021.606,225,246.00 3.48% 02-58200-402 IMPROVEMENTS 4,223,913.009,700.000.009,700.004,233,613.000.00 99.77% 02-58200-404 CONSTRUCTION IN PROGRESS 66,604.2068,616.000.0068,616.00135,220.200.00 49.26% 02-58200-405 SITE WORK AND DEMOLITION FEES 216,528.55113,303.9721,848.5391,455.44316,172.52-13,660.00 68.48% 02-58200-406 INFRASTRUCTURE AND STREETSCAPE 8,370,868.583,559,635.428,351.923,551,283.5011,937,152.086,648.08 70.12% 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 1,049,161.94499,742.6923,527.50476,215.191,576,377.1327,472.50 66.56% 02-58400-445 MARKETING INCENTIVES 187,497.4931,106.513,150.0027,956.51218,604.000.00 85.77% 02-58500-460 COMMUNITY POLICING INNOVATIONS 764,280.14619,207.410.00619,207.411,383,487.550.00 55.24% 02-58500-470 COMMUNITY SUPPORT PROJECTS 345,652.73338,938.1334,433.80304,504.33650,157.06-34,433.80 53.16% 02-58500-480 COMMUNITY SPECIAL EVENTS 130,677.68516,494.3250,879.59465,614.73647,172.000.00 20.19% Expense Totals:6,279,300.28 31,996,040.14 8,267,269.91 418,144.34 8,685,414.25 17,031,325.61 53.23% 02 - PROJECTS FUND Totals:6,279,300.28 4,098,391.14 -15,361,830.80 348,881.99 -15,012,948.81 12,832,039.67 03 - DEBT SERVICE Revenue 03-46100 INTEREST INCOME 37,686.86-37,686.86-4,710.94-32,975.920.000.00 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 -2,350,400.92 -4,710.94 -2,355,111.86 37,686.86 1.63% 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 -2,290,338.73 -4,710.94 -2,295,049.67 2,295,049.67 Report Total:6,316,307.70 4,178,166.27 -18,598,646.35 475,782.42 -18,122,863.93 15,984,722.50 283 Detail vs Budget Report Date Range: 08/01/2025 - 08/31/2025 9/2/2025 3:26:53 PM Page 5 of 5 Fund Summary Fund Beginning Balance Total Activity Ending BalanceFiscal Budget Budget RemainingEncumbrances % Remaining 37,007.42 79,775.13 -946,476.82 131,611.37 -814,865.45 857,633.1601 - GENERAL FUND 6,279,300.28 4,098,391.14 -15,361,830.80 348,881.99 -15,012,948.81 12,832,039.6702 - PROJECTS FUND 0.00 0.00 -2,290,338.73 -4,710.94 -2,295,049.67 2,295,049.6703 - DEBT SERVICE Report Total:6,316,307.70 4,178,166.27 -18,598,646.35 475,782.42 -18,122,863.93 15,984,722.50 284 •Attachment I - July 25, 2025 CRA Special Board Workshop Minutes COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.B SUBJECT: Approval of the CRA Special Board Workshop Minutes for July 25, 2025 SUMMARY: See attached minutes. CRA BOARD OPTIONS: Approve the July 25, 2025 CRA Special Board Workshop Minutes. ATTACHMENTS: Description 285 286 287 •Attachment I - August 12, 2025 CRA Meeting Minutes COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.C SUBJECT: Approval of the CRA Board Meeting Minutes for August 12, 2025 SUMMARY: See attached minutes. CRA BOARD OPTIONS: Approve the August 12, 2025 CRA Board Meeting Minutes. ATTACHMENTS: Description 288 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 Present: Chair Rebecca Shelton Tim Tack, Acting Executive Director Vice Chair Woodrow Hay Kathryn Rossmell, Board Counsel Board Member Aimee Kelley Maylee De Jesus, City Clerk Board Member Thomas Turkin Board Member Angela Cruz 1. Call to Order Chair Shelton called the meeting to order at 6:00 P.M. 2. Invocation The Invocation was given by Vice Chair Hay. 3. Pledge of Allegiance Board Member Cruz led the Pledge of Allegiance to the Flag. 4. Roll Call Ms. Maylee De Jesus, City Clerk, called the roll. A quorum was present. 5. Agenda Approval A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda Motion: Board Member Kelley moved to approve the Agenda as amended. Vice Chair Hay seconded the motion. The motion passed unanimously. 6. Legal A. Continued Policy Consideration on Public Comments Ms. Rossmell stated that there was no legal obligation to proceed with this and listed the options for public comments that were given to the Board at the prior meeting. She provided an overview of the different options. Board Member Kelley asked for clarification on giving the opportunity to allow for public comments for each item under the regular agenda. Board Member Kelley stated that there should just be one public comment, because separate public comments for each item would be excessive. Board Member Kelley mentioned that she would like to have one public comment at Page 1 of 15 289 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 the beginning and possibly one more opportunity under new business as a whole. Board Member Turkin stated that he concurred. Vice Chair Hay stated that he concurred but would like to have the opportunity to allow for public comment if needed. Ms. Rossmell stated that it already allowed for that. Public comment was opened. Chair Shelton opened public comment. Susan Oyer stated that there should be two public comment sections at the beginning and at the end, and that the Board's job is to listen to public comments. No virtual comment. Chair Shelton closed public comment. Motion: Board Member Turkin moved to adopt Public Comment Policy as shown in Attachment 3, effective next meeting. Board Member Kelley seconded the motion. The motion passed unanimously. 7. Informational Items and Disclosures by Board Members and CRA Staff: A. Disclosure of Conflicts, Contacts, and Relationships for Items Presented to the CRA Board on Agenda Board Member Turkin, Vice Chair Hay, and Board Member Cruz had nothing to disclose. Board Member Kelley stated that she spoke to Lauren Goebel regarding 15C. Board Chair Shelton stated that she also spoke to Lauren Goebel regarding 15C. 8. Information Only A. Circuit Transit Inc. 5th Quarterly Report for Service Dated April 1, 2025 - June 30,2025 B. Heart of Boynton Shops Project Update C. CRA Economic & Business Development Grant Program Update D. Neighborhood Officer Program 3rd Quarter Report for FY 2024-2025 (April 2025 - June 2025) E. Social Media & Print Marketing Update F. Boynton Beach Night Market Recap 9. Announcements and Awards Page 2 of 15 290 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 A. Rock the Plaza Gabby Ferreira, Marketing and Business Promotions Coordinator, announced the Rock the Plaza on Saturday, August 16. 10. Public Comments Chair Shelton opened public comment. Susan Oyer thanked Acting Executive Director Tack for allowing Mike access to the Magnuson House to begin measurements. She referenced the historic house in Northwood that would be eligible for a grant to relocate and hire a Historic Planner. She added that she had secured tenants for her father's house. No virtual comment. Chair Shelton closed public comment. 11. Consent Agenda A. CRA Financial Report Period Ending July 31 , 2025 B. Approval of the CRA Board Meeting Minutes for June 10, 2025 C. Approval of the CRA Board Meeting Minutes for July 8, 2025 D. Approval of the Second Waiver of Neighborhood Officer Program Office Construction Deadline located in the Heart of Boynton Shops at 137 NE 10th Avenue, Unit 108 E. Approval of Temporary Parking Use Agreement with The Journey Community Church, Inc. for the CRA owned property located at 1111 S. Federal Highway F. Approval of the Commercial Property Improvement Grant Program in the Amount of 56,500 to SFEB LLC d/b/a SoFresh located in Sunshine Square at 522 E. Woolbright Road G. Approval of the Commercial Rent Reimbursement Grant Program in the Amount of 24,000 to SFEB LLC d/b/a SoFresh located in Sunshine Square at 522 E. Woolbright Road Motion: Board Member Kelley moved to approve the Consent Agenda. Vice Chair Hay seconded the motion. The motion passed unanimously. 12. Pulled Consent Agenda Items There were none. 13. CRA Advisory Board Page 3 of 15 291 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 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 Acting Executive Director Tack provided an update on the CRA Advisory Board meetings. He noted the June discussion included a splash pad, and that upcoming topics would include recognition of Boynton's two Heisman winners and the renaming of streets. 14. Old Business A. Continued Discussion and Consideration of Budget Funding Towards the Neighborhood Officer Program ("NOP"), Code Enforcement, and/or Beautification Efforts in the CRA Ms. Jobara Jenkins, Finance and Accounting Manager, stated that there were three items for discussion and noted the proposed amounts for each. Acting Executive Director Tim Tack confirmed that the numbers aligned with what the city had proposed. Board Member Kelley stated that eventually there would be a need for a full-time sergeant and asked if more discussion had occurred about utilizing another sergeant for the area. She questioned whether the need would be as strong since CRA events may decrease due to legislative changes. Acting Executive Director Tack replied that he would have to defer to the City. Ms. Rossmell stated that the positions could be placed in the budget without being filled immediately. Acting Executive Director Tack added they were considering expanding the downtown area. Captain Burdelski stated that co-mingling a sergeant within and outside the CRA would be problematic, noting that sergeants oversee different areas. He requested one dedicated to the CRA and explained this was not atypical, given the number of officers a sergeant typically supervises. Board Member Kelley asked if sergeants were currently available to be designated and whether the CRA could be involved when officers are selected. She stated that the positions would require someone who could connect with residents. Captain Burdelski responded that while a list of eligible sergeants exists, it did not guarantee one of them would be chosen. He stated that an interview panel would select the candidate, with changes contingent on the outcome. Ms. Rossmell asked for clarification. Board Member Turkin agreed with Board Member Kelley's comment to continue discussion at the next meeting. Board Member Kelley stated she was comfortable moving forward. Page 4 of 15 292 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 There was consensus to include the positions in the budget, with further discussion to follow. B. Continued Discussion and Consideration of Fiscal Year 2025-2026 Project Fund Budget - REVISED 08/08/2025 Ms. Vicki Hill, Finance Director, spoke about the Proposed FY 25-26 Budget projects and the amounts allocated for each. She stated that the budget would not be finalized until the following month. Board Member Kelley thanked Ms. Hill for the list and the breakdown of the Master ILA. Acting Executive Director Tim Tack asked if there were other aspects of the projects the Board would like to discuss. Board Member Kelley stated that she would like the CRA to speak with the City about shifting some of the big events to the City, since the CRA was at the edge of what is allowed. Board Member Turkin asked if there was a discussion item for Coquina Cove. Ms. Rossmell stated that she did not believe it was part of the budget but noted there was money in contingency if needed. Ms. Hill stated that the City had a number, but not a final number. Ms. Rossmell asked if the Board would like it added. Board Member Turkin responded yes. Acting Executive Director Tack asked for clarification and stated that the CRA would coordinate with the City. There was no public comment. C. Termination of the Commercial Rent Reimbursement Grant Balance to Dalo Restaurant LLC located at 1017 N. Federal Highway Ms. Bonnie Nicklien, Grants and Project Manager, stated that they opened in June 2024 but were not able to remain open, and the grant would be terminated. Motion: Board Member Kelley moved to approve the Termination of the Commercial Rent Reimbursement Grant Balance to Dalo Restaurant LLC. Vice Chair Hay seconded the motion. The motion passed unanimously. D. Discussion and Consideration of the Economic Development Grant Program Page 5 of 15 293 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 Guidelines and Applications for Fiscal Year 2025-2026 Ms. Bonnie Nicklien, Grants and Project Manager, stated that these grant programs are brought back every year for approval. She stated that they did not have major changes, only minor ones. Board Member Kelley asked if the figures would be changed this year. Ms. Nicklien stated that they were close to $800K for this year, but that $600,000 should be appropriate for the following year. Motion: Board Member Kelley moved to approve the FY 2025-2026 Commercial Rent Reimbursement Grant Program Application and the FY 2025-2026 Commercial Property Improvement Grant Program Application as presented and pending any final review from CRA legal counsel. Board Member Turkin seconded the motion. The motion passed unanimously. E. Continued Discussion and Consideration of the Purchase of the Inn at Boynton located at 480 W. Boynton Beach Boulevard - REVISED 08/08/2025 Leslie Evans stated that he represented the owner of the building and was available for questions. Chair Shelton opened public comment. Mack McCray urged the CRA to purchase the property and not let the opportunity get away. Chair Shelton closed public comment. Board Member Turkin stated that there had been an arrest for human trafficking on this site recently and that anything that could be done to eliminate issues and save a life would be important. Vice Chair Hay stated that it would be to the city's advantage to move forward. Board Member Kelley stated that although it would be positive to shut down the property, the owner had already received $3 million from FDOT. She noted that the owner had argued about getting this property for nothing and that while the hotel was being torn down, she could not support spending $8 million in good conscience. She stated that part of the property was now owned by FDOT and while she could not support the deal, it remained important to secure the property. Chair Shelton stated that the site served as a gateway into the city and looked like garbage. Chair Shelton noted that although the owner was coming out on top in the real estate deal, the matter had been ongoing for years and it was time to take control of the property and Page 6 of 15 294 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 redevelop it. Board Member Cruz stated that Board Member Kelley's comments were rational and not based on emotion. Board Member Cruz suggested that it was the responsibility of taxpayers to ensure proper use of the property and that some kind of credit should be considered for the $3 million already provided to the owner. She stated that she did not see anyone in the private sector willing to pay more for the property and suggested that negotiations be reopened. Mr. Evans stated that the owner had inherited the property, that they did not agree with the past activities on the site, and that they had already paid for consequences. He noted that an appraisal had been conducted excluding the land taken and stated that the location was ideal, being directly off 1-95. He stated that the owner would not lower the price and that negotiations had been conducted in good faith. Chair Shelton asked Acting Executive Director Tack about the other offers that had been received and sent to the board. Acting Executive Director Tack clarified that all materials presented by the other parties were provided to the board separately and explained that no agreements would have been signed unless they were formally executed. Chair Shelton stated that the property was an embarrassment. Board Member Turkin stated that the site was in his backyard, and his constituents did not want another high-rise or a dense project due to Live Local. He stated that while the cost was high, sometimes spending more upfront allowed for greater returns. He stated that taking control would give the city the ability to decide the property's future use. Chair Shelton asked if there were grants available to remove the property. Acting Executive Director Tack affirmed. Vice Chair Hay asked for the base value of the property. Acting Executive Director Tack explained the appraisals that had been completed and the amounts the property was valued at both times. Vice Chair Hay remarked that this should be more than a District 3 call. He noted that properties had been purchased over the appraised value in the past. He described the property as an eyesore and emphasized the opportunity for the board to determine what should be placed on the site. He cautioned that if another development came in and purchased it, they could move forward, so this was the board's chance to look at it and decide the long-term use. Board Member Cruz expressed support for the purchase but said the price was too high. She asked for agreement from the board to pursue grants for demolition. She explained that if this was the intent, then moving forward would be more acceptable to her. Chair Shelton observed that the property would likely sell to the highest and best use and Page 7 of 15 295 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 could still be controlled at a later date. Acting Executive Director Tack noted that $400,000 was dedicated for demolition and outlined ways to save money. He added that grants would be pursued, but approval was not guaranteed. Chair Shelton reopened public comment. David Katz commented that he had watched the negotiation meeting and thought the Mayor had done a great job. He suggested that the board should take the property because if purchased by another company, Live Local would probably take over the site. Chair Shelton closed public comment. Board Member Kelley voiced support for tearing the property down. Motion: Board Member Turkin moved to 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. Board Member Hay seconded the motion. The motion passed 4-1, with Board Member Kelley dissenting. F. Presentation Regarding the CRA Owned Property Located at 211 E. Ocean Avenue TABLED 07/08/2025 There was consensus for it to remain tabled. G. Update on Recruitment of Executive Director Candidates by S. Renee Narloch & Associates Acting Executive Director Tack introduced the discussion on the candidates who had applied. Board Member Kelley commented that she had two good interviews and one candidate stood out as someone who could work collaboratively with the City. She indicated she was ready to consider offering the position to that candidate. Board Member Cruz reported that she also had two good interviews, noting that at least one candidate brought strong experience that could benefit CRA leadership. Vice Chair Hay said he had interviewed both candidates and felt either one could do the job. He expressed readiness to move forward with either. Chair Shelton observed that when visiting the cities where the candidates currently worked, their CRAs did not compare to Boynton Beach. She said she was not comfortable with either Page 8 of 15 296 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 applicant. Board Member Turkin remarked that while both candidates were strong, he did not want to rule out other options to pursue an outside RFP with a professional firm. He cautioned that moving forward in that direction could change the way the CRA is run. He proposed appointing City Manager Dugger as Interim CRA Executive Director while an RFP process was undertaken, especially given the limits placed on CRAB by recent legislation. Board Member Cruz emphasized that the City and CRA were designed as separate entities. She expressed surprise at the suggestion, noting the City Manager already had a significant workload and the CRA Director position required full dedication. Chair Shelton reflected on why the two candidates had applied and said she supported naming the City Manager as Interim Director while the board considered an RFP. Vice Chair Hay reminded the board that the CRA had been searching for a director for some time without success. He opposed assigning the interim role to the City Manager, stressing that his focus needed to remain on City affairs. He suggested an independent or hybrid approach but reaffirmed his opposition. Board Member Turkin clarified that his proposal was only for a temporary role. Vice Chair Hay reiterated his disagreement. Board Member Cruz restated her view that the City was a separate entity and was being run well. She noted that Acting Executive Director Tack had allowed the CRA to thrive and staff morale had been strong. She commended him for his work and said she was not opposed to an RFP. Board Member Kelley said the process had gone on for a long time and does not feel they are making a decision just to conclude it. She said she was comfortable using an RFP for projects but not for the Executive Director role. She stressed she did not want to lose the chance to hire one of the current candidates, reiterating her confidence in one in particular. She also expressed uncertainty about the City Manager serving in an interim capacity. Chair Shelton opened public comment. Mildred Hay commented on the previous termination of the former Executive Director and said any prospective applicant should review that meeting. She stressed the importance of confidence and commitment to the position and added that the prior termination had set a low bar for standards, underscoring the need to treat people with respect. Chair Shelton closed public comment. Chair Shelton reiterated her support for an RFP and asked Acting Executive Director Tack if he wanted the full position. Page 9 of 15 297 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 Acting Executive Director Tack replied that while staff was excellent, the position required a commitment beyond a standard workday, and he could not accept it. Chair Shelton added that she did not want staff to fear termination with the arrival of a new director but continued to support an RFP. Vice Chair Hay said candidates lacking proper qualifications should not have applied. He recommended making expectations clear if another headhunter was used. Chair Shelton noted that while the candidates presented were the best available, they were not the right fit for the job. Board Member Turkin said he was impressed with but would choose Kris Mory from Deerfield Beach. He proposed moving forward with Chris as the finalist while also considering an RFP. Vice Chair Hay agreed, citing Ms. Mory's strong interview performance and noting that no candidate would be perfect. Board Member Cruz also supported Ms. Mory, explaining her reasoning. She stated she was not opposed to an RFP but emphasized that the decision should provide long-term stability and job security. The board discussed issuing an RFP, negotiating with Ms. Mory as the top candidate, and related options. Motion: Board Member Turkin moved to approve Negotiation of a contract with Ms. Mory. Vice Chair Hay seconded the motion. The motion passed 4-1, with Chair Shelton dissenting. 15. New Business A. Discussion and Consideration of the Request for Proposals for CRA Executive Director Services Acting Executive Director Tack spoke about a draft for an RFP for the CRA Executive Director position. Chair Shelton asked what the draft proposal was based on. Acting Executive Director Tack explained that he had modeled it on a similar process used for another position and was seeking direction from the board that evening. Ms. Rossmell clarified the type of direction staff was requesting from the board. The Board discussion followed regarding the scope of the RFP, possible changes to the terms, the advertising period, and adjusting the timeline for issuing the RFP and receiving Page 10 of 15 298 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 bids. Board Members also discussed the option of scoping out portions of the bid separately and considered a two-year contract limit with a one-year extension. Chair Shelton opened public comment. Susan Oyer stated that the CRA should go out to RFP to see what other options may be available and suggested that there might be a potential cost savings. Chair Shelton closed public comment. Ms. Rossmell further explained the RFP process and noted what elements could be modified. She added that a special meeting could be scheduled if needed. Motion: Board Member Turkin moved to issue the RFP, with a change to (2) two years with (1) one year renewal. Vice Chair Hay seconded the motion. The motion passed unanimously. Motion: Board Member Turkin moved to issue the RFP, to allow the acting executive director to call a Special Meeting. Vice Chair Hay seconded the motion. The motion passed unanimously. B. Discussion and Consideration of Marina Lease Agreements for Fiscal Years 2025- 2027 Brian Smith, Manager of the Boynton Marina, discussed the cost per linear foot for the slip lease. He noted that the rate has remained unchanged for several years and is still lower than other marinas in the area. Board Member Turkin remarked that he did not want to alter the rate at this time, especially with the seawall scheduled for replacement. He asked if local vendor preference was being applied when leases were filled. Mr. Smith responded that there was a waitlist of ten businesses, and he had no objection to giving preference. Board Member Turkin commented that the City already applies this practice on its side and suggested the CRA do the same moving forward. Board Member Kelley expressed that she also did not wish to raise rates at present due to the seawall replacement. She emphasized her support for prioritizing local businesses. Board Member Turkin inquired about how a policy could be formally established. Page 11 of 15 299 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 Ms. Rossmell explained that the matter was separate from the agreement currently before the board. Board Member Turkin stated that he wanted to provide direction now and also ensure a permanent policy change in the future. Ms. Rossmell reiterated the revisions that had been made in the agreement. The board then discussed past issues related to the agreement. Chair Shelton opened public comment. No one came forth to speak. Chair Shelton closed public comment. Motion: Board Member Kelley moved to approve the lease agreement. Board Member Turkin seconded the motion. The motion passed unanimously. C. Discussion and Consideration of the Purchase of 670 Oak Street - REVISED 08/08/2025 Acting Executive Director Tack spoke about the possible sale of the property, including what was offered and negotiated, and noted existing restrictions. Ms. Lauren Goebel stated that the property had been in the family since the 1950s and emphasized the opportunity for the City to purchase it. Deputy City Manager Mack presented the conceptual drawing, highlighted the potential of the site, and explained that while the project could work, some of the City's terms were problematic. Acting Executive Director Tack added that the CRA would not use much of the land for redevelopment but that a partnership with the City made sense. Board Member Kelley stated that such an opportunity had never been available before, supported expanding Harvey Oyer Park, and said the only option should be to purchase the entire property. Chair Shelton agreed. Board Member Cruz explained that she had not been knowledgeable about the plan until now and asked about the appraised value and zoning. Discussion followed regarding the appraisal, revenue potential, and whether the property had been on the market. Page 12 of 15 300 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 Vice Chair Hay spoke about the purchase price and the conceptual plan and expressed support. Deputy City Manager Mack emphasized that the timing was perfect and noted the many benefits. Ms. Goebel reiterated the importance of working with the community given the family's long ownership of the land. Chair Shelton opened public comment. Elizabeth Rowe supported the preservation of open land and urged not to miss the opportunity. She raised concerns about traffic, construction timelines, and requested a cement wall on her side of the property, as had been installed on the north side. She also recognized the benefits of the project. Board Member Turkin suggested holding a joint workshop to determine future use. Board Member Cruz cautioned against overpaying for properties in the future. Emily Ryan supported the City's purchase, expressed opposition to a private developer, and requested a neighborhood gate for park access. She shared ideas for future use of the land. Mike Ryan supported the purchase but raised concerns about traffic, garbage collection, and related impacts. Chair Shelton closed public comment. Board Member Turkin added that the seawall was a major consideration and stated that this was an opportunity to help mitigate issues while preparing for replacement of the wall. Motion: Board Member Turkin moved to approve contract negotiation for 670 Oak Street. Vice Chair Hay seconded the motion. The motion passed unanimously. D. Discussion and Consideration of the Future Use of 419 N. Seacrest Boulevard Acting Executive Director Tack spoke about obtaining this property and explained that the idea was to use it for affordable housing. He suggested a few options and asked for Board direction. Board Member Kelley stated that there is a Head Start program in the City seeking a new home and suggested this property as a temporary location until their facility is built. Acting Executive Director Tack stated that he could coordinate with City staff to determine if Page 13 of 15 301 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 this would work and said he would research the option further. Chair Shelton opened public comment. No one came forth to speak. Chair Shelton closed public comment. E. Discussion and Consideration of Planning for 2026 Legislative Session Ms. Rossmell asked if there were legislative opportunities the Board would like to pursue so a lobbyist could be considered. Board Member Turkin stated that he was comfortable not taking action at this time. Board Member Kelley stated that it was important to be proactive and noted that conversations were already taking place with the City's lobbyist regarding issues with bills being filed. Ms. Rossmell stated that she was open to communicating with the City's lobbyist and noted that they received notifications on any legislation that might affect the CRA. F. Consideration of Registration and Travel Expenses to Attend the Florida Redevelopment Association 2025 Annual Conference on October 14-17, 2025 in West Palm Beach, FL Acting Executive Director Tack stated that this was the annual conference, noted its benefits, and asked who would be able to attend. He also asked if the Board would like to open the opportunity to CRA Advisory Board members, since no hotel stay would be required. Board Member Turkin stated that he would like to open the opportunity to CRAB. Vice Chair Hay stated that he would be able to attend. 16. Future Agenda Items A. Continued Discussion and Consideration of the Purchase of the 13 Parcel Assemblage located at 444 W. Boynton Beach Boulevard B. Discussion and Consideration of Redevelopment at 217 N. Seacrest Boulevard (USPS Site) C. Discussion and Consideration of Approval of Infill Housing RFP D. Discussion and Consideration of Amending the 2016 Community Redevelopment Plan E. Discussion and Consideration of the Andrews House Located at the 306 SE 1St Avenue F. Discussion and Consideration of the Adoption of "Exhibit A" to the Interlocal Agreement between the Boynton Beach CRA and the City of Boynton Beach for Funding Construction and Professional Services Page 14 of 15 302 Meeting Minutes CRA Board Meeting Boynton Beach, FL August 12, 2025 17. Adjournment There being no further business to discuss, the meeting was adjourned at 8:53 P.M. nJi . of B0)%%•%, Mayl e Jesus, MPA, MMC d• • ;0., City Irk bR i 0 ; 303 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.D SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Boynton Beach Dentistry located at 1315 N. Federal Highway, Suite 100, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Boynton Beach Dentistry located at 1315 N. Federal Highway, Suite 100, Boynton Beach, FL 33435 (see Attachment I). Boynton Beach Dentistry is a new dental practice operating in eastern Boynton Beach. They offer comprehensive dental care, including cleanings, fillings, crowns, implants, and cosmetic dentistry. Their experienced team uses state-of-the-art technology to ensure that their patients have a healthy and radiant smile. DEMONSTRATED NEED FOR MARKETING ASSISTANCE New or Expanding Product/Service Offerings Underutilized Capacity MARKETING OBJECTIVES Increase awareness within the community Attract patients in need of their services REQUESTED USE OF FUNDS 304 •Attachment I - Application •Attachment II - Marketing Grant Request If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: Monthly SEO Services Print Ads See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: F Y 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to Boynton Beach Dentistry. ATTACHMENTS: Description 305 306 307 308 309 310 311 312 313 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.E SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Beach House Boutique located at 1120 S. Federal Highway, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Beach House Boutique located at 1120 S. Federal Highway, Boynton Beach, FL 33435 (see Attachment I). Beach House Boutique offers a place to shop in Downtown Boynton Beach for women's apparel, accessories, gifts, and home goods. DEMONSTRATED NEED FOR MARKETING ASSISTANCE Declining Sales or Revenue MARKETING OBJECTIVES Gain more customers REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: Every Door Direct Mailer 314 •Attachment I - Application •Attachment II- Marketing Grant Request See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: F Y 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to Beach House Boutique located at 1120 S. Federal Highway. ATTACHMENTS: Description 315 316 317 318 319 320 321 322 323 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.F SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Trilogy Fitness MMA located at 1550 N. Federal Highway, Units 4-10, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Trilogy Fitness MMA located at 1550 N. Federal Highway, Units 4-10, Boynton Beach, FL 33435 (see Attachment I). Trilogy is committed to offering the highest level of physical fitness. Their mission is to help residents of Boynton Beach live a healthier, happier, and stronger life through the practice of mixed martial arts. They are dedicated to maintaining a clean and safe family atmosphere, supporting community wide charity events, and facilitating a positive environment for people of all ages and abilities. DEMONSTRATED NEED FOR MARKETING ASSISTANCE Underutilized Capacity MARKETING OBJECTIVES Boost memberships REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable 324 •Attachment I - Application •Attachment II - Marketing Grant Request funding for the desired marketing campaign to include: Facebook Advertising Campaign See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: F Y 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to Trilogy Fitness MMA located at 1550 N. Federal Highway, Units 4-10. ATTACHMENTS: Description 325 326 327 328 329 330 331 Boost memberships 332 Families with children interested in mixed-martial arts 333 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.G SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Guaca Go located at 510 Ocean Avenue, Unit 106, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Guaca Go located at 510 Ocean Avenue, Unit 106, Boynton Beach, FL 33435 (see Attachment I). Guaca Go's mission is to serve healthy, simple food by creating guacamole-based meals in a fun and fast style to be enjoyed by people of all walks of life. DEMONSTRATED NEED FOR MARKETING ASSISTANCE Declining Sales or Revenue MARKETING OBJECTIVES Increase Sales Rebrand REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: Marketing services for a complete rebrand 334 •Attachment I - Application •Attachment II - Marketing Grant Request See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: F Y 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Ap p roval of Commercial Business Marketing Grant in the amount of $2,500 to Guaca Go located at 510 Ocean Avenue, Unit 106. ATTACHMENTS: Description 335 336 337 338 339 340 341 342 343 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.H SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Driftwood located at 2005 S. Federal Highway, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Driftwood located at 2005 S. Federal Highway, Boynton Beach, FL 33435 (see Attachment I). Driftwood strives to provide an elevated dining experience in a casual environment, using local product and supporting small businesses. DEMONSTRATED NEED FOR MARKETING ASSISTANCE Low Customer Awareness Need for Rebranding or Brand Refresh MARKETING OBJECTIVES Reach the local clientele Refresh social media presence REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: 344 •Attachment I - Application •Attachment II - Marketing Grant Request Facebook Ad Campaign Promotional Flyers Website Redesign See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: F Y 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: App r o va l of Commercial Business Marketing Grant in the amount of $2,500 to Driftwood located at 2005 S. Federal Highway. ATTACHMENTS: Description 345 346 347 348 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com COMMERCIAL BUSINESS MARKETING GRANT REQUEST Business Name: _________________________________________________ Marketing Campaign Details: Digital Marketing: • Social Media Advertising: o ☐ Facebook Ads o ☐ Instagram Ads o ☐ LinkedIn Ads o ☐ Twitter Ads o ☐ _______________________________ o ☐ _______________________________ • Search Engine Marketing (SEM): o ☐ Google Ads o ☐ Microsoft Ads o ☐ Yelp Ads o ☐ _______________________________ o ☐ _______________________________ • Email Marketing Programs: o ☐ MailChimp o ☐ Constant Contact o ☐ iContact o ☐ _______________________________ o ☐ _______________________________ • Content Marketing: o ☐ Sponsored Blog Posts o ☐ Video Marketing (YouTube, Vimeo) o ☐ Influencer Partnerships o ☐ _______________________________ o ☐ _______________________________ • Website Development and Enhancement: o ☐ Website Design and Redesign o ☐ WordPress o ☐ Wix o ☐ Domain Purchase o ☐ Website Hosting Services Driftwood 2005, LLC 349 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o ☐ SEO Services o ☐ E-Commerce Integration o ☐ _______________________________ o ☐ _______________________________ • Outdoor Advertising: o ☐ Billboards (Design and Advertising Costs) o ☐ Street Signs (Design and Advertising Costs) o ☐ _______________________________ o ☐ _______________________________ Print Marketing: • Print Collateral (Flyers, Posters, Brochures): o ☐ Design Costs o ☐ Printing Costs o ☐ Distribution Services o ☐ _______________________________ o ☐ _______________________________ • Direct Mail: o ☐ Design Costs o ☐ Printing Costs o ☐ Mailing Services o ☐ _______________________________ o ☐ _______________________________ • Magazine and Newspaper Ads: o ☐ Local Publications o ☐ Specialty Magazines o ☐ _______________________________ o ☐ _______________________________ o • Business Cards: o ☐ Design and Printing Services o ☐ _______________________________ o ☐ _______________________________ • Signage and Banners: o ☐ Design Costs o ☐ Permitting Fees o ☐ Printing Costs o ☐ Installation Costs o ☐ _______________________________ 350 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o ☐ _______________________________ • In-Store Displays: o ☐ Window Decals and Graphics o ☐ _______________________________ o ☐ _______________________________ Other Mediums of Marketing: Graphic Design Services or Tools: o ☐ Graphic Design Company o ☐ Canva o ☐ Adobe Creative Products o ☐ Affinity Designer o ☐ Inkscape o ☐ Similar Design Programs o ☐ Branding or Rebranding o ☐ Logo Creation o ☐ _______________________________ o ☐ _______________________________ Radio Advertising: o ☐ Local Radio Spots o ☐ Internet Radio (Spotify, Pandora) o ☐ _______________________________ o ☐ _______________________________ Television Advertising: o ☐ Local TV Commercials o ☐ Cable TV Ads o ☐ _______________________________ o ☐ _______________________________ In-Person Exhibiting: o ☐ Vendor Booth at Local Events o ☐ Banner Placement at Sponsored Events o ☐ _______________________________ o ☐ _______________________________ Promotional Materials: o ☐ Branded Merchandise (T-shirts, Pens, Bags, etc.) o ☐ Signage and Display Materials 351 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o ☐ _______________________________ o ☐ _______________________________ Vehicle Wraps: o ☐ Design and Application for Branded Vehicles o ☐ _______________________________ o ☐ _______________________________ Miscellaneous Approved Campaigns and Items: o ☐ _______________________________ o ☐ _______________________________ o ☐ _______________________________ o ☐ _______________________________ o ☐ _______________________________ Demonstrated Need for Marketing Assistance: o ☐ Declining Sales or Revenue o ☐ Low Customer Awareness o ☐ High Competition o ☐ New or Expanding Product/Service Offerings o ☐ Underutilized Capacity o ☐ Poor Online Presence or Engagement o ☐ Ineffective Current Marketing Efforts o ☐ Target Market Challenges o ☐ Need for Rebranding or Brand Refresh o ☐ Strategic Business Goals Please provide an explanation for demonstrated need below. Any supportive documentation should be uploaded as an attachment to Eventeny. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Marketing Objectives: o _______________________________ o _______________________________ o _______________________________ Target Audience: We are working on reaching our local possible customers by making them aware of special promotions and new initiatives. Reach our local clientele Refresh our social media presence 352 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o _______________________________ o _______________________________ o _______________________________ Estimated Project Start Date: ____________________________________ Estimated Project Completion Date: ______________________________ Total Reimbursement Requested: ______________________________ Marketing Campaign Itemized Expense Details: Expense Vendor/Service Provider Expense Description Reimbursement Amount Requested Facebook Ad Campaign Facebook Ads 60-day video ad at $10 per day $600 Print Flyers Clear Copy Print 500 promotional flyers $250.00 Website Redesign Saffire Web Design Redesign website to be a responsive format and add ecommerce functionality $1,650.00 Boynton Beach Residents September 2025 September 2025 $2,500 353 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.I SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Starfish Scuba located at 735 Casa Loma Boulevard, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Starfish Scuba located at 735 Casa Loma Boulevard, Boynton Beach, FL 33435 (see Attachment I). Having operated out of the Boynton Inlet since 1984, 'The Starfish' is a local staple when it comes to South Florida scuba diving. 'The Starfish' is a U.S. Coast Guard certified 34-foot Crusader, purpose-built for scuba divers. With a wide beam and large dive platform, there is plenty of seating areas, shade, and a center rail for scuba divers and friends to move around the boat easily. They provide freshwater shower, refreshments, and music to make their guest feel at home when aboard! DEMONSTRATED NEED FOR MARKETING ASSISTANCE Declining Sales or Revenue MARKETING OBJECTIVES Market to tourists seeking adventure in South Florida Market to local diving enthusiasts REQUESTED USE OF FUNDS 354 •Attachment I - Starfish Scuba - Application •Attachment II - Starfish Scuba - Marketing Grant Request If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: SEO Services Promotional Materials Website Refresh Facebook Ad Campaign See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: F Y 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to Starfish Scuba located at 735 Casa Loma Boulevard. ATTACHMENTS: Description 355 356 357 358 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com COMMERCIAL BUSINESS MARKETING GRANT REQUEST Business Name: _________________________________________________ Marketing Campaign Details: Digital Marketing: • Social Media Advertising: o ☐ Facebook Ads o ☐ Instagram Ads o ☐ LinkedIn Ads o ☐ Twitter Ads o ☐ _______________________________ o ☐ _______________________________ • Search Engine Marketing (SEM): o ☐ Google Ads o ☐ Microsoft Ads o ☐ Yelp Ads o ☐ _______________________________ o ☐ _______________________________ • Email Marketing Programs: o ☐ MailChimp o ☐ Constant Contact o ☐ iContact o ☐ _______________________________ o ☐ _______________________________ • Content Marketing: o ☐ Sponsored Blog Posts o ☐ Video Marketing (YouTube, Vimeo) o ☐ Influencer Partnerships o ☐ _______________________________ o ☐ _______________________________ • Website Development and Enhancement: o ☐ Website Design and Redesign o ☐ WordPress o ☐ Wix o ☐ Domain Purchase o ☐ Website Hosting Services Starfish Scuba, LLC PLEASE ADVISE WHAT WE QUALIFY FOR 359 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o ☐ SEO Services o ☐ E-Commerce Integration o ☐ _______________________________ o ☐ _______________________________ • Outdoor Advertising: o ☐ Billboards (Design and Advertising Costs) o ☐ Street Signs (Design and Advertising Costs) o ☐ _______________________________ o ☐ _______________________________ Print Marketing: • Print Collateral (Flyers, Posters, Brochures): o ☐ Design Costs o ☐ Printing Costs o ☐ Distribution Services o ☐ _______________________________ o ☐ _______________________________ • Direct Mail: o ☐ Design Costs o ☐ Printing Costs o ☐ Mailing Services o ☐ _______________________________ o ☐ _______________________________ • Magazine and Newspaper Ads: o ☐ Local Publications o ☐ Specialty Magazines o ☐ _______________________________ o ☐ _______________________________ o • Business Cards: o ☐ Design and Printing Services o ☐ _______________________________ o ☐ _______________________________ • Signage and Banners: o ☐ Design Costs o ☐ Permitting Fees o ☐ Printing Costs o ☐ Installation Costs o ☐ _______________________________ 360 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o ☐ _______________________________ • In-Store Displays: o ☐ Window Decals and Graphics o ☐ _______________________________ o ☐ _______________________________ Other Mediums of Marketing: Graphic Design Services or Tools: o ☐ Graphic Design Company o ☐ Canva o ☐ Adobe Creative Products o ☐ Affinity Designer o ☐ Inkscape o ☐ Similar Design Programs o ☐ Branding or Rebranding o ☐ Logo Creation o ☐ _______________________________ o ☐ _______________________________ Radio Advertising: o ☐ Local Radio Spots o ☐ Internet Radio (Spotify, Pandora) o ☐ _______________________________ o ☐ _______________________________ Television Advertising: o ☐ Local TV Commercials o ☐ Cable TV Ads o ☐ _______________________________ o ☐ _______________________________ In-Person Exhibiting: o ☐ Vendor Booth at Local Events o ☐ Banner Placement at Sponsored Events o ☐ _______________________________ o ☐ _______________________________ Promotional Materials: o ☐ Branded Merchandise (T-shirts, Pens, Bags, etc.) o ☐ Signage and Display Materials 361 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o ☐ _______________________________ o ☐ _______________________________ Vehicle Wraps: o ☐ Design and Application for Branded Vehicles o ☐ _______________________________ o ☐ _______________________________ Miscellaneous Approved Campaigns and Items: o ☐ _______________________________ o ☐ _______________________________ o ☐ _______________________________ o ☐ _______________________________ o ☐ _______________________________ Demonstrated Need for Marketing Assistance: o ☐ Declining Sales or Revenue o ☐ Low Customer Awareness o ☐ High Competition o ☐ New or Expanding Product/Service Offerings o ☐ Underutilized Capacity o ☐ Poor Online Presence or Engagement o ☐ Ineffective Current Marketing Efforts o ☐ Target Market Challenges o ☐ Need for Rebranding or Brand Refresh o ☐ Strategic Business Goals Please provide an explanation for demonstrated need below. Any supportive documentation should be uploaded as an attachment to Eventeny. ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ ______________________________________________________________________ Marketing Objectives: o _______________________________ o _______________________________ o _______________________________ Target Audience: Please see attached PDF Tourists: People currently traveling in or planning trips to your area (e.g., people recently searching “Florida Keys” or “West Palm Beach”). Locals: Diving enthusiasts, water-sport lovers, and outdoor adventure seekers nearby. Demographics & Interests Ages 25–55 (travelers with disposable income). Interests: “Scuba Diving,” “Snorkeling,” “Adventure Travel,” “Ocean Conservation,” “Vacations.” Behaviors: Frequent travelers, engaged shoppers, people who recently visited travel booking sit 362 Attachment X: Commercial Business Marketing Grant Request 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com o _______________________________ o _______________________________ o _______________________________ Estimated Project Start Date: ____________________________________ Estimated Project Completion Date: ______________________________ Total Reimbursement Requested: ______________________________ Marketing Campaign Itemized Expense Details: Expense Vendor/Service Provider Expense Description Reimbursement Amount Requested Facebook Ad Campaign Facebook Ads 60-day video ad at $10 per day $600 Print Flyers Clear Copy Print 500 promotional flyers $250.00 Website Redesign Saffire Web Design Redesign website to be a responsive format and add ecommerce functionality $1,650.00 FACEBOOK AD FACEBOOK 3 month ad campaign ($500 per month)$1,000 Shirt printing 3rd Reef Line Logoed shirts to give to new students and regulars $500 Website Refresh local web designer Fix glitches and broken links $500 SEO improvement local SEO company improve our online visibility $500 10/1/2025 1/1/2026 $2,500 363 Statement of Need for Marketing Grant Assistance Our scuba diving tour business is seeking grant assistance to strengthen our marketing efforts and expand our visibility to both local residents and visiting tourists. While we provide high-quality, safe, and memorable diving experiences, our current marketing budget is very limited, making it difficult to effectively reach the audiences who are most likely to benefit from and enjoy our services. The need for support is especially urgent as our sales (MTD for August) have declined by 24.29%, while our operating expenses have risen by 25.82% over the same period. This combination has placed significant strain on our ability to reinvest in the business, particularly in marketing initiatives that are essential to driving new revenue. Without additional resources, we risk losing further ground to larger, better-funded competitors in the tourism industry. Grant funds will allow us to invest in digital advertising, social media campaigns, and targeted outreach to travelers planning trips to our area. With enhanced marketing resources, we will be able to highlight the unique aspects of our tours—our personalized service, focus on safety, and commitment to environmental stewardship —which set us apart from larger operators. This support will directly contribute to the sustainability and growth of our business. Stronger marketing will allow us to attract more guests, provide stable employment for our staff, and generate additional economic activity within our community. In addition, increased visibility helps us promote ocean conservation and responsible diving practices to a wider audience, furthering our mission beyond just tourism. In short, grant funding for marketing is essential for us to overcome current financial challenges, compete effectively, grow our customer base, and ensure that our business continues to thrive while making a positive impact on our community and environment. 364 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.J SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to ArtSea Living located at 412 East Ocean Avenue, Unit 1, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from ArtSea Living located at 412 East Ocean Avenue, Unit 1, Boynton Beach, FL 33435 (see Attachment I). Since 2013, ArtSea Living has served the South Florida area, for all ages, as a multifunctional Art Studio & Boutique Gallery. Their studio offers unique art classes, art camps, private parties, and events in-person and online. Pottery, canvas, and wine glass painting are available for walk-ins as well as appointments. Their boutique gallery offers ART, apparel, jewelry, accessories, home décor, gifts, and handmade items. ArtSea Living is more than an art studio! DEMONSTRATED NEED FOR MARKETING ASSISTANCE New or Expanding Product/Service Offerings Need for Rebranding or Brand Refresh Strategic Business Goals MARKETING OBJECTIVES Increase awareness within the community Attract patients in need of their services 365 •Attachment I - Application •Attachment II - Marketing Grant Request REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: New Website Rebranding See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: FY 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to ArtSea Living located at 412 East Ocean Avenue, Unit 1. ATTACHMENTS: Description 366 367 368 369 370 371 372 373 374 375 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.K SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to South Florida Mastercraft, located at 725 N. Federal Highway, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from South Florida Mastercraft located at 725 N. Federal Highway, Boynton Beach, FL 33435 (see Attachment I). South Florida Marina is a full-service boat dealership with services and parts for Suzuki engines, all inboard boats, Mastercraft Day boats, and Pontoon and Tritoon boat. They are the Palm Beach Pontoon Boat Specialist. They are a dedicated team of trained professionals with the singe goal of making customers for life! They are not just a boat dealership, they offer a way of life. Their customers return year after year, because when you purchase from them you not only become a customer, but you become part of their family. Their mission is to keep their customers happy and safe on the water. DEMONSTRATED NEED FOR MARKETING ASSISTANCE Low Customer Awareness New or Expanding Product/Service Offerings Target Market Challenges MARKETING OBJECTIVES Increase walk-in traffic 376 •Attachment I - Grant Application •Attachment II - Marketing Grant Request REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: Outdoor Marketing Flags Banners Billboard See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: FY 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to South Florida Mastercraft, located at 725 N. Federal Highway. ATTACHMENTS: Description 377 378 379 380 381 382 383 384 $2,500 385 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.L SUBJECT: Approval of the Commercial Business Marketing Grant Program in the amount of $2,500 to Mancave for Men Boynton Beach, located at 1503 Federal Highway, Boynton Beach, FL 33435 SUMMARY: The BBCRA’s Commercial Business Marketing Grant Program is designed to provide financial assistance to businesses located within the BBCRA area in the form of a reimbursable grant intended to offset the costs of marketing and branding initiatives that help businesses grow and expand their reach to the local community and desired target demographics in accordance with the BBCRA Community Redevelopment Plan. The program offers financial assistance to eligible commercial businesses in the form of a $2,500 reimbursable grant for eligible marketing or advertising expenses. BUSINESS OVERVIEW CRA staff has received a completed grant application from Mancave for Men located at 1503 Federal Highway, Boynton Beach, FL 33435 (see Attachment I). Mancave for Men offers a wide range of premium services that redefine luxury grooming. Utilizing expert barbers, stylists, nail techs, and manscape professionals in their relaxing upscale environment. They ensure every detail is followed in tailoring an excellent experience wherein the client leaves looking sharp and feeling confident. DEMONSTRATED NEED FOR MARKETING ASSISTANCE Low Customer Awareness New or Expanding Product/Service Offerings High Competition Underutilized Capacity Strategic Business Goals MARKETING OBJECTIVES 386 •Attachment I - Grant Application •Attachment II - Marketing Grant Request Enhance awareness as the premier grooming destination by growing online presence Attract high value clients with targeted ads to clients that appreciate their luxury services Increase revenue through promotion of their premium products and peripheral services REQUESTED USE OF FUNDS If approved, the applicant is eligible to receive a maximum grant of $2,500 in reimbursable funding for the desired marketing campaign to include: Social Media Ads Print Marketing Branded Merchandise See Attachment II for overview of Marketing Grant Request. FISCAL IMPACT: FY 2024-2025 Budget Project Fund, Line Item 02-58400-445, $2,500 for Commercial Business Marketing Grant CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approval of Commercial Business Marketing Grant in the amount of $2,500 to Mancave for Men Boynton Beach, located at 1503 Federal Highway. ATTACHMENTS: Description 387 388 389 390 391 392 393 394 EXAMPLE 395 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 CONSENT AGENDA AGENDA ITEM 11.M SUBJECT: Approval of the Commercial Rent Reimbursement Grant Program in the Amount of $9,540 to Venasky Tailor Experience LLC located at 312 E. Boynton Beach Boulevard SUMMARY: The CRA's Commercial Rent Reimbursement Grant Program provides qualified new or expanding businesses located within the CRA boundaries with rent payment assistance for a maximum period of 12 months. CRA staff has received a complete grant application from Venasky Tailor Experience LLC located at 312 E. Boynton Beach Boulevard, Boynton Beach, FL 33435 (see Attachments I-II). Venasky Tailoring specializes in the design, creation and alteration of high-quality garments for men and women. They offer personalized tailoring services that blend traditional craftmanship with modern fashion trends, ensuring each piece is made to fit perfectly and express individual style. Whether you need a completely new design or expert alterations, Venasky Tailoring Experience provides a seamless, professional service that puts your satisfaction first. Venasky Tailoring Experience employs two seamstresses. Under the terms of their Landlord-Tenant Lease Agreement, the base rent to be paid by the applicant is $1,590 per month (see Attachment III). Venasky Tailoring qualifies as a Tier II business (as specified in the grant application) and would receive reimbursement for one-half of their monthly rent amount or maximum grant amount of $1,750 per month for a 12-month period, whichever is less. If approved, Venasky Tailoring Experience would be reimbursed in the amount of $795/month for a period of 12 months or a total grant amount of $9,540 during its first year of business. Grant reimbursements to the approved applicant occur on a monthly basis with proof of rent payments. FISCAL IMPACT: FY 2024-2025 Budget, Project Fund, Line Item 02-58400-444, $9,540 CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan 396 •Attachment I - Commercial Rent Reimbursement Grant •Attachment II - Location Map •Attachment III - Lease CRA BOARD OPTIONS: Approval of the Commercial Rent Reimbursement Grant in the amount not to exceed $9,540 Venasky Tailor Experience LLC located at 312 E. Boynton Beach Boulevard, Boynton Beach, FL 33435. ATTACHMENTS: Description 397 Initials ______ Page 1 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com October 1, 2024 – September 30, 2025 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY COMMERCIAL RENT REIMBURSEMENT GRANT PROGRAM Program Rules and Regulations The Commercial Rent Reimbursement Grant Program is designed to help facilitate the establishment of new businesses and aid in the expansion of existing businesses within the Boynton Beach Community Redevelopment Agency (the “BBCRA”) Area. The program is designed to provide financial assistance to new and existing businesses in the form of rent reimbursement intended to help businesses during the critical first year of operation or expansion. The BBCRA reserves the right to approve or deny any Commercial Rent Reimbursement Grant Program application and to deny payment at any time if, in its sole and absolute discretion, it determines that the business will not advance the goals and objectives established for redevelopment of the BBCRA Area. The receipt of past payments is not a guarantee of future payments. For purposes of this application, the term “new business” means a company in operation for less than one year or relocating to Boynton Beach. The term “existing business” means a company that has been in operation within the BBCRA Area for a minimum of two years at the time of application and has at least two years remaining on its existing lease at the time of Board approval. The BBCRA is a public agency and is governed by the “Florida Public Records Law” under Florida State Statutes, Chapter 119. Any documents provided by the Applicant(s) may be produced by the BBCRA upon receipt of a public records request, subject to any exemptions provided by Florida Law. 398 Initials ______ Page 2 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Incentive Funding The Commercial Rent Reimbursement Grant Program offers financial assistance through a reimbursable grant in the form of a monthly rent reimbursement for the first 12 months of business. New businesses are eligible to apply for assistance for up to one year from the issuance of the City of Boynton Beach Business Tax Receipt. Rent Reimbursements will not be paid until all construction has ended, permits are closed out, City and County licenses are obtained, and the business is open for operation under a Temporary Certificate of Occupancy (TCO) or a Certificate of Occupancy (CO). However, if the construction is for expansion of an existing business, and the existing business property remains open during construction of the expansion, the Applicant is eligible to receive rent reimbursement for the portion of the business that is not under construction so long as that portion remains operational during construction. For businesses that do not require any construction work, rent reimbursements will not be paid until City and County licenses are obtained and the business is open for operation. On a monthly basis, the BBCRA will issue reimbursement directly to the applicant. Reimbursement is for the monthly rent payment made to the landlord, and is dependent upon receipt of verification that the payment has been cleared by the bank. CASH AND/OR CRYPTOCURRENCY PAYMENTS are not eligible for reimbursement. The responsibility for all rental payments is between the parties to the lease, (the tenant and the landlord). As grantor, the BBCRA does not bear or accept any responsibility for payment of rent at any time, or for penalties incurred for the late arrival of payments by any party. Applicants are also encouraged to connect with CareerSource Palm Beach County which is a State organization providing various free programs to assist Palm Beach County businesses. CareerSource Palm Beach County has a dedicated team of career counselors, business coaches and training providers to help area businesses stay competitive through training grants and talent acquisitions, and also provide assistance in posting available jobs, recruiting and hiring, and training opportunities. For more information regarding CareerSource Palm Beach County visit their website at careersourcepbc.com. 399 Initials ______ Page 3 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Eligibility Requirements Applicants must meet all of the following requirements in order to be considered eligible to receive grant funding: • Applicant must be a new business, or an existing business that is expanding in size. • Applicant must be the business entity (or d/b/a) named and the principal owners named on the corporation documents, and must be the landlord or business owner of the company occupying the property to be improved. • Must be located within the BBCRA Area (see attached map). • Must provide proof that the business is properly licensed by all necessary levels of government and professional associations or agencies (copies of city and county licenses or receipts that the licenses have been applied for). • Non-profit and residentially zoned properties are NOT eligible. • The Commercial Rent Reimbursement Grant Program may only be used one time by any one specific business entity or business owner unless the existing business is expanding as defined in this grant application • An existing business must expand to occupy more than 50% of its current square footage size or open a second location within the BBCRA Area. Verification of this threshold must be provided in the application package. Exceptions to this rule may be made at the discretion of the BBCRA Board if the tenant is losing their current space due to redevelopment of the site. • The Applicant’s Experian consumer credit report must reflect an acceptable level of financial stability, as determined in the sole discretion of the BBCRA Applicants must have an Experian credit score of 601 or higher and have no listed history of bankruptcy to be eligible. If there is more than one business owner, the majority of the business owners must have credit scores of 601 or higher to be eligible. • Applicant must have an executed multi-year lease with at least two years remaining on the lease at the time of BBCRA Board approval. • Proposed leases must be executed within 30 days of BBCRA Board approval or the grant award is terminated. • Grantees shall allow the BBCRA the rights and use of photos and project application materials. • The BBCRA Board may give preference to local businesses. For purposes of this grant, local business means a duly licensed business entity with an office location in Palm Beach County. 400 Initials ______ Page 4 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Ineligible Businesses The following businesses are considered ineligible for assistance under the Commercial Rent Reimbursement Grant Program: • Firearm Sales/Shooting Range • Convenience Store • Religion-Affiliated Retail Stores • Churches/places of worship • Non-profit organizations • Medical Research Centers/Housing • Check Cashing Stores • Kava Tea Bars • Tattoo Shops / Body Piercing / Body Art Shops • Adult Entertainment • Liquor Stores • Adult Arcades • Vapor Cigarette, E Cigarette Stores • Alcohol and/or Drug Rehabilitation Centers/Housing • Massage/Personal Services • Auto Services Facilities – repair, storage, sales, etc • CBD Retail Stores, etc. • Pawn Shops • Political offices, campaign headquarters, or other businesses focused on politics or political operations • Any other use that the BBCRA staff or BBCRA Board determine will not support the redevelopment of the BBCRA Area Grant Terms and Conditions This grant is divided into two tiers of eligibility. Businesses are classified into tiers based on the type of business, which then determines the amount of eligible funding. Grant funding amounts will be based on the applicant’s project budget specified at the time of BBCRA Board approval. Tier One Business Tier One Businesses are eligible for reimbursement for up to half (50%) of the business’ base monthly rent plus half of the Common Area Maintenance fee (if applicable), or $2,000 per month, whichever is less. The maximum amount of the grant is $24,000, distributed in 12 monthly payments. Utilities and property taxes are ineligible for reimbursement. Tier One Businesses must be one of the following types of businesses: • Restaurant • Gourmet Food Market • Bakery/Coffee Shop • Hotels/Motels/Bed and Breakfast (the Board will grant no more than four approvals in this category per 401 Initials ______ Page 5 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com fiscal year; short term vacation rentals are not eligible) Tier Two Business Tier Two Businesses are eligible for reimbursement for up to half (50%) of the business’s base monthly rent plus half of the Common Area Maintenance fee (if applicable), or $1,750 per month, whichever is less. The maximum amount of the grant is $21,000, distributed in 12 monthly payments. Utilities and property taxes are ineligible for reimbursement. Examples of Tier Two Businesses include, but are not limited to, the following types of businesses: • Professional Offices (real estate, law, architect, accountant, insurance, marketing etc.) • Take-Out Restaurants • Services (lockshops, appliance repair, etc.) • Medical Offices (dentists, primary care, counseling, etc.) • Laundry/Dry Cleaner facility • Retail (clothing, art, accessories) • Hair/Nail Salons (no more than 2 approvals per fiscal year) • Florists (no more than 2 approvals per fiscal year) • Fitness Centers • Specialty Businesses (daycare, ice-cream shop, pet grooming, event planning) • Industrial Uses/Art District (excluding auto repair/sales) Lease Terms If the applicant is a tenant, it must have a proposed or executed multi-year lease with a minimum of two years remaining on the lease at the time of Board approval. The commercial lease must define the landlord-tenant relationship and at minimum provide the following information: • A description of the space being rented, including square footage and a drawing of the space; • Description of utilities that are the tenant’s responsibility; • Rental rate and deposits along with terms of lease and methodology for future rent increases; • Responsible party for interior and exterior repairs and/or improvements; • Insurance requirements; • Ability to terminate; and • Consequences of default on the lease. 402 Initials ______ Page 6 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com For purposes of this paragraph, the term “subject property” means the leased premises of the grant recipient, for which the applicant or grant recipient is seeking rental reimbursement, or any part thereof. Grant recipients are prohibited from subletting the subject property. If a grant recipient sublets the property, the grant recipient will be required to repay the BBCRA for all grant money received up to that point and will not be eligible to receive any further grant funding. For purposes of this grant, the BBCRA considers the following to be subletting: A) executing a sublease, assignment, or similar agreement with an entity that is not the grant recipient; B) allowing the subject property to be occupied by any business entity in which the grant recipient is not listed as the registered agent, owner, officer or director of said business, or assisting such a business in so doing; C) allowing or assisting a business entity other than the grant recipient to list its place of business as the subject property; or D) allowing or assisting a business entity other than the grant recipient to obtain a business tax license from the City of Boynton Beach for the subject property. The fact that a business entity other than the grant recipient occupies the subject property, lists its place of business as the subject property, obtains a business tax license for the subject property, or similarly appears to use the subject property is sufficient evidence that the grant recipient has allowed or assisted such other business entity to do so and is grounds for termination of any further grant payments and seeking reimbursement for previously paid grant payments. However, it shall not be considered a prohibited subleasing when the business purpose of the applicant is to provide a space for aspiring businesses, such as when the applicant is a business incubator, commissary kitchen, or business that provides co-op workspace. The BBCRA will determine whether a certain applicant fits into the exception described in this paragraph on a case-by-case basis. Application Process Applications can be submitted online at www.boyntonbeachcra.com. All applicants are required to meet with BBCRA staff in order to determine eligibility before submitting an application. Applications will not be considered until all required documentation is submitted to the BBCRA office. Application to this grant program is not a guarantee of funding. Funding is at the sole discretion of the BBCRA Board. Applicants may submit complete applications via email or mail hard copies of the application with all materials to the BBCRA for review and approval by the BBCRA Board, 403 Initials ______ Page 7 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com however online submissions are preferred. Applicants will be considered on a first-come, first-served basis. Application packets must include the following documentation: 1. A non-refundable fee of $100, which will be used to obtain a consumer credit report on the business and principal/owners of business. Make check payable to: Boynton Beach CRA. 2. Provide a 2-3 sentence mission statement for the applying business entity. This will be used as a way to introduce the business to the BBCRA Board. 3. Resume for each principal/owner of the business. 4. Copy of the corporate documents for the applying business entity. 5. Copy of City and County Business Licenses (Business Tax Receipt). 6. Copy of executed multi-year commercial lease agreement. 7. Two years of corporate tax returns (for existing businesses only). 8. Two years of personal tax returns for the principal/owners of a new business (if no corporate tax returns). 9. List of jobs to be created and filled including job descriptions, pay range and weekly schedule. For existing businesses, provide a list of all current positions including job descriptions, pay range and weekly schedule. 10. If applicant is an existing business expanding to occupy more than 50% of its current square footage size, verification of this threshold must be provided in the application package. Exceptions to this rule may be made at the discretion of the BBCRA Board if the tenant is losing their current space due to redevelopment of the site. 11. Initialed and signed Program Rules & Regulations (pages 1-12). 12. Authorization to perform credit check for the business and each principal/owner of the business. 13. W9 Form and Grant Intake Form. Approval of Funding Request All required application documentation must be submitted no later than noon two weeks prior to the second Tuesday of the month. BBCRA staff will review the application to evaluate whether the applicant is eligible for reimbursement. If it meets these requirements, BBCRA staff will present the funding request to the BBCRA Board for review and potential approval. The BBCRA Board meets on the second Tuesday of each month. The schedule for BBCRA Board meetings can be obtained at www.boyntonbeachcra.com. Applicants will 404 Initials ______ Page 8 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com be notified of the date and time that their applications will be considered by the BBCRA Board. The BBCRA recommends that applicants attend the BBCRA Board meeting during which the Board will consider their applications in order to answer any questions the BBCRA Board may have regarding their applications. BBCRA staff will notify the applicant of the BBCRA Board’s approval or denial in writing. Site Visits BBCRA may conduct a site visit prior to transmitting the application to the BBCRA Board and once the project is completed. Staff may also conduct unannounced site visits before, during and after the project in order to determine and ensure compliance with the terms of the grant. Procedures for Reimbursement Monthly rent reimbursement payments will be provided to the grant recipient beginning the first month the business is open for operation subsequent to BBCRA Board approval. A maximum of 12 consecutive monthly rent payments are eligible to be reimbursed to the approved applicant. Reimbursement will occur on a monthly basis. Following the initial Reimbursement Request, each reimbursement request shall be made within 30 days of the start of the next month. In order to receive monthly rent reimbursement the grant applicant must submit the following: 1. Written request for reimbursement. 2. Proof of rent payments (i.e., copies of the front and back of cancelled checks for that month’s reimbursement or proof of direct deposit). CASH AND/OR CRYPTOCURRENCY PAYMENTS for rent are not eligible for reimbursement. If applicant does not submit its monthly reimbursement request within 30 days following the end of the next month in which applicant is requesting reimbursement, applicant forfeits that month’s reimbursement. 405 Initials ______ Page 9 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com Discontinuation of Payment The receipt of past payments does not guarantee future payments. The BBCRA retains the right to discontinue rent reimbursement payments at any time at its sole and absolute discretion. SUBMISSION OF AN APPLICATION IS NOT A GUARANTEE OF FUNDING It is the responsibility of the applicant to READ AND UNDERSTAND all aspects of the Grant Program’s Rules/Requirements and Application. NOTICE TO THIRD PARTIES: The grant application program does not create any rights for any parties, including landlords and parties that performed work on the property. Nor shall issuance of a grant result in any obligation on the part of the BBCRA to any third party. The BBCRA is not required to verify that entities that have contracted with the applicant or applicant’s landlord have been paid in full, or that such entities have paid any subcontractors in full. Applicant’s submittal of verification that monthly rental payments have been cleared by the bank is sufficient assurance for the BBCRA to award grant funding. CERTIFICATION AND WAIVER OF PRIVACY: For purposes of this certification and waiver of privacy, the term “I” refers to the applicant and to all signatories below individually. By signing below, each signatory represents and confirms that he or she is authorized to sign on behalf of the applicant(s). I, the undersigned applicant(s), certify that all information presented in this application, and all of the information furnished in support of the application, is given for the purpose of obtaining a grant under the Boynton Beach Community Redevelopment Agency Commercial Rent Reimbursement Grant Program, and it is true and complete to the best of my knowledge and belief. I further certify that I am aware of the fact that I can be penalized to the maximum extent permitted by law for making false statements or presenting false information. I further acknowledge that I have read and understand the terms and conditions set forth and described in the Boynton Beach Community Redevelopment Agency Commercial Rent Reimbursement Grant Program Rules and Requirements. 406 Initials ______ Page 10 of 12 Rent Reimbursement 100 East Ocean Avenue, 4th Floor, Boynton Beach, FL 33435 – Phone: (561) 600 - 9090 www.boyntonbeachcra.com I understand that this application is not a guarantee of grant assistance, and that award of grants is at the sole discretion of the Boynton Beach Community Redevelopment Agency Board. I understand that the purpose of the grant is to further the Boynton Beach Community Redevelopment Plan, and that the Boynton Beach Community Redevelopment Agency may decline my application for any legal reason, including the reason that granting the award will not further the Community Redevelopment Plan. Should my application be approved, I understand that the Boynton Beach Community Redevelopment Agency may, at its sole discretion, discontinue grant payments at any time if in its sole and absolute determination it feels such assistance no longer meets the program criteria or is no longer furthering the Boynton Beach Community Redevelopment Plan. To the maximum extent possible, I hereby waive my rights to privacy and confidentiality for all matters contained in my application, and give my consent to the Boynton Beach Community Redevelopment Agency, its agents and contractors to examine any confidential information given herein. I further grant permission, and authorize any bank, employers or other public or private agency to disclose information deemed necessary to complete this application. I specifically authorize the Boynton Beach Community Redevelopment Agency to run a credit report as part of this application, and understand that information in my credit report, including a record of bankruptcy, may disqualify me from obtaining grant funding. I give permission to the Boynton Beach Community Redevelopment Agency or its agents to take photos of myself and business to be used to promote the program. I understand that if this application and the information furnished in support of the application are found to be incomplete, it will be not processed. Business Information: Business Name (and d/b/a if applicable): _____________________________________ _____________________________________ Boynton Beach Business Address: _____________________________________ _____________________________________ Applicant Contact Phone Number: _____________________________________ 407 408 409 410 411 Business Information Additional Information Application Commercial Rent Reimbursement Grant Program Status Awaiting Decision Business Name Venasky Tailor Experience Contact Legal Name Joseph Menardy Email venaskytailorexperience@gmail.com Address 312 E Boynton Beach Blvd Ste 5, Boynton Beach, Florida 33435, United States Phone 754-201-7968 Website https://www.instagram.com/venasky_tailorexperience? igsh=MWIxNHB3cDJ2NGQxNQ%3D%3D&utm_source=qr Special Requests Submitted Time Aug 25, 2025 2:00 pm Tags Boynton Beach Business Address: 312 E Boynton beach blvd, Ste 5, boynton beach, Fl 33435 Provide a list of all principal owners listed on corporate documents Jean Ajilist Joseph Menardy Business Mission Statement At Venasky Tailor Experience, our mission is to deliver expertly crafted, custom-made garments that reflect each client’s unique style. We are dedicated to combining quality craftsmanship, personalized service, and attention to detail to ensure a perfect fit and lasting elegance." Are you an existing business in Boynton Beach? 8/25/25, 2:30 PM Artist, Vendor & Exhibitor Submission - BBCRA Economic Development Grant Programs - Eventeny https://www.eventeny.com/dashboard/events/event/vendors/list/view/?id=12701&vend_id=684097&index=1&total=30 1/3412 No Numbers of years in existence 1 Are you a new business in Boytnon Beach? Yes Description of your business Venasky Tailor Experience is a bespoke tailoring shop specializing in the design, creation, and alteration of high-quality garments for men and women. We offer personalized tailoring services that blend traditional craftsmanship with modern fashion trends, ensuring each piece is made to fit perfectly and express individual style. From custom suits and dresses to everyday wear and special occasion outfits, our skilled tailors are committed to delivering precision, elegance, and comfort in every stitch. Whether you need a completely new design or expert alterations, Venasky Tailor Experience provides a seamless, professional service that puts your satisfaction first. Type of Business Tier III Base Rent (plus CAM if applicable) $1590 Square Footage of Current Location (No response submitted) Square Footage of New Location (No response submitted) Number of Employees & Job Descriptions 2 Seamstress- Assist tailor Tailor- Creates and Designs clothing Hours of Operation 8am-6:00PM Monday- Saturday Are you applying for grant assitance under any other program offered by the BBCRA? None Are you applying for grant assistance under any other governmental agencies? No Landlord Contact Information Betty . 2300 Sw 3rd St. Boynton beach, Fl,33435. +1 (561) 789-7701 In the following sections, please upload the requested documents. If more than one file is needed in a response to an individual prompt, go to "Choose Files," select multiple files at the same time in order for them to upload. I understand Upload resumes for each principal/owner listed on coporate documents here: File uploaded Upload a copy of the lease here: File uploaded Upload Copy of Corporate Documents Here 8/25/25, 2:30 PM Artist, Vendor & Exhibitor Submission - BBCRA Economic Development Grant Programs - Eventeny https://www.eventeny.com/dashboard/events/event/vendors/list/view/?id=12701&vend_id=684097&index=1&total=30 2/3413 Prices File uploaded Upload two years of corporate tax returns here: File uploaded Upload City of Boynton Beach Business Tax Reciept Here File uploaded Upload Palm Beach County Business Tax Reciept Here (No response submitted) Upload Credit Check Authorization Form Here File uploaded Upload Business w9 here: File uploaded Upload the Grant Intake Form here: File uploaded Upload Notarized "Anti-Human Trafficking Affidavit" here: File uploaded Upload Signed "Program Rules & Regulations" Here File uploaded I understand that submission of an application is not a guarantee of grant funding or Board approval. Any "approval" notifications sent through Eventeny are purely administrative. Final approval will occur at the next available Board Meeting. Joseph Menardy How would you like to pay your application fee? Pay with credit card Application Fee Quantity - 1 | Total - $100.00 8/25/25, 2:30 PM Artist, Vendor & Exhibitor Submission - BBCRA Economic Development Grant Programs - Eventeny https://www.eventeny.com/dashboard/events/event/vendors/list/view/?id=12701&vend_id=684097&index=1&total=30 3/3414 Reset Select Language ▼ Search by Address, Owner, or PCN Return Property Info Layers Tools & Reports Help View Property Record Print 217 NE 3RD ST LLC LOCATION 217 NE 3RD ST MUNICIPALITY BOYNTON BEACH PARCEL NO. 08-43-45-28-03-003-0010 SUBDIVISION BOYNTON TOWN OF BOOK/PAGE 35565/270 SALE DATE 02/13/2025 MAILING ADDRESS 928 MANATEE WAY HOLLYWOOD FL 33019 5051 USE TYPE 1200 - STORE/OFFICE/RESIDENTIAL TOTAL SQUARE FEET 4920 OWNERS PROPERTY DETAIL SALES INFORMATION v.1.5a 8/29/25, 10:00 AM PAPA Countywide Map https://gis.pbcgov.org/papagis/papa.html#1/1415 Page 1 of 19 COMMERCIAL LEASE This COMMERCIAL LEASE (the “Lease”) is made and entered into as of the Effective Date by and between 217 NE 3RD ST LLC, a Florida limited liability company ("Landlord”) and JOSEPH MENARDY, an individual (“Tenant”). “Effective Date” shall mean the date on which Landlord provides Tenant a fully executed Lease. Landlord and Tenant are hereinafter collectively referred to as the "Parties", or individually, a "Party". W I T N E S S E T H: Subject to and on the terms and conditions of this Lease, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Landlord leases to Tenant and Tenant hires from Landlord the Premises and the Parties agree as follows: 1. BASIC LEASE INFORMATION AND DEFINED TERMS. The key business terms of this Lease and the defined terms used in this Lease are as follows: 1.1 Landlord. 217 NE 3RD ST LLC, a Florida limited liability company, authorized to transact business in Florida. 1.2 Tenant. JOSEPH MENARDY, an individual. 1.3 Building. The entirety of any building or improvement located on the Project and known by the street addresses: (i) 217 NE 3rd Street, Boynton Beach Blvd, Boynton Beach, FL 33435; and (ii) 312 E. Boynton Beach Blvd, Boynton Beach, FL 33435, Folio No. 08-43-45-28-03-003-0010. 1.4 Project. The land described on Exhibit A-1 attached hereto (the “Land”), together with all buildings and other improvements located on the Land on the date hereof or hereafter in accordance with the provisions of this Lease, and the Common Areas (as hereinafter defined) located on the Land. 1.5 Premises or Property. Means Unit No. 5 of the Building, using address of 312 E. Boynton Beach Blvd, Boynton Beach, FL 33435, and is deemed to contain a total of 650 square feet of rentable space located within the Building. Tenant stipulates and agrees that: (i) any approximation of the square footage of the Premises set forth herein is an approximation only which is reasonable and any payments based thereon are not subject to reduction whether or not the actual size is more or less than stated herein; and (ii) the square footage figure has been agreed upon by Tenant as final and correct and is not subject to challenge or dispute by Tenant. 1.6 Permitted Use. Means for use for tailoring and the retail sale of clothing (see the Use article). 1.7 Commencement Date; Rent Commencement Date. The Commencement Date and Rent Commencement Date shall be April 1, 2025. This Lease shall not renew at the expiration date except, and solely to the extent, Tenant has been granted an Option to extend in accordance with Section 1.20, if applicable. From the Rent Commencement Date through the end of the Lease the Tenant shall be liable for all Rent and Additional Rent payable to Landlord under this Lease, which date shall be calculated on and after the Commencement Date. Tenant agrees that it currently possesses all access devices (keys, FOB’s, access cards, etc., if any) to the Premises. 1.8 Lease Term. The term will commence on the Rent Commencement Date and expire on the one (1) year anniversary thereafter, expressly subject to Landlord’s Termination Right under Section 33 hereof. Tenant shall pay prorated Rent calculated on a per diem basis for the partial month in which the Commencement Date occurs. This Lease shall not renew at the expiration date except in accordance with Section 1.20, if applicable. 1.9 Base Rent. Commencing on the Rent Commencement Date and continuing during the Term, each month Tenant shall pay Landlord monthly base rent (the “Base Rent”) plus applicable Florida sales tax (which shall be paid by Tenant together with payments of Base Rent and which is subject to the rate then in effect (currently 3%), as follows: Lease Years (Initial Term) Base Rent 1 $1,590.00 2 $1,890.00 Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 416 Page 2 of 19 3 $2,190.00 1.10 Tenant’s Operating Share psf. Tenant’s Rent has been negotiated to include its allocated share of any Operating Costs paid by landlord for the maintenance of the Project in accordance with the terms and provisions of this Lease. Tenant, however, shall be solely responsible for the costs in addition to the Rent payable hereunder in accordance with Section 6 hereof. 1.11 Security Deposit. $1,050.00. 1.12 Prepaid Rent. Means Last Month’s Base Rent of $1,050.00 (paid pursuant to the prior lease) and held by Landlord, along with the Security Deposit. 1.13 Tenant’s Notice Address. 312 E. Boynton Beach Blvd, Unit 5, Boynton Beach, FL 33435. Landlord shall use the foregoing physical/email address(es) for all notices to Tenant under this Lease. 1.14 Landlord’s Notice and Payment. Means 928 Manatee Way, Hollywood, Florida 3309, provided, Landlord reserves the right on written notice to Tenant (which may be by email) to direct all rent payment to be made by electronic means (e.g., www.doorloop.com). All legal or default notices to Landlord shall be copied to The Bernstein Law Firm, 10800 Biscayne Boulevard, Suite #950, Miami, FL 33161. 1.15 Broker(s). NONE. 1.16 Guarantor. NONE. 1.17 Business Days. All days other than Saturdays, Sundays, or Legal Holidays. 1.18 Legal Holidays. New Year’s Day, Memorial Day, Fourth of July, Labor Day, Thanksgiving Day, and Christmas Day. 1.19 Acceptance of Premises. PRIOR TO ACCEPTING POSSESSION, TENANT HAS INSPECTED AND VERIFIED THAT ANY BUILDING COMPONENTS SUCH AS ELECTRICAL, MECHANICAL, AND PLUMBING COMPONENTS, INCLUDING HVAC, AND ALL THE WAREHOUSE LIGHTS ARE IN GOOD WORKING ORDER. TENANT ACCEPTS THE PREMISES “AS IS”, “WHERE IS” AND “WITH ALL FAULTS”, AS OF THE EFFECTIVE DATE WITH NO FURTHER LANDLORD OBLIGATIONS THERETO . TENANT EXPRESSLY ACKNOWLEDGES THAT LANDLORD HAS MADE NO REPRESENTATIONS WHATSOEVER AS TO THE PREMISES OR ITS PERMITTED USE, UNLESS EXPRESSLY SET FORTH IN THIS LEASE. 1.20 Option to Extend. None. 2. TERM. This Lease shall constitute a legally binding and enforceable agreement as of the Date of this Lease. Tenant shall have and hold the Premises for the Lease Term. The Lease Term shall commence on the C ommencement Date. Landlord shall determine the Commencement Date as provided in the Basic Lease Information and Defined Terms of this Lease and shall notify Tenant of the date so determined. Tenant shall, if Landlord so requests, thereafter, execute and return within ten (10) days a letter confirming the Commencement Date and the expiration date of this Lease. The Tenant’s failure to timely return the confirmation letter shall not affect the Commencement Date under this Lease. 3. USE. Tenant shall continuously use and occupy the Premises only for the Permitted Use of the Premises. Tenant shall not use or permit or suffer the use of the Premises for any other business or purpose. Tenant shall conform to the Rules and Regulations. “Rules and Regulations” shall mean the rules and regulations for the Building promulgated by Landlord from time to time. The Rules and Regulations which apply as of the Date of this Lease are attached as EXHIBIT “B”. Tenant’s use of the Premises for anything other than the Permitted Use shall me a material default under this Lease. 4. RENT. Tenant shall pay Rent to Landlord in lawful United States currency. All additional rent for Operating Costs shall be payable in monthly installments, in advance, beginning on the Commencement Date, and continuing on the first (1st) day of each and every calendar month thereafter during the Lease Term. All Base Rent obligations shall be payable in monthly installments, in advance, beginning on the Rent Commencement Date, and shall co ntinue on the first (1st) day of each and every calendar month thereafter during the Lease Term. Unless otherwise expressly provided, all monetary obligations of Tenant to Landlord under this Lease, of any type or nature, other than Base Rent, shall be den ominated as additional rent. The term “Rent” when used in this Lease includes Base Rent and all forms of additional rent. All Rent shall be paid to Landlord without demand, Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 417 Page 3 of 19 setoff, or deduction whatsoever, except as specifically provided in this Lease, at Landlord’s Notice Address, or at such other place as Landlord designates in writing to Tenant. Tenant’s obligations to pay Rent are covenants independent of the Landlord’s obligations under this Lease. Tenant shall pay monthly to Landlord any sales, use, or other tax (excluding state and federal income tax) now or hereafter imposed on any Rent due under this Lease. Any Rent received after the fifth (5 th) day of any month shall be subject to a late fee of ten percent (10%) of the unpaid amount. 5. HOLDING OVER. In the event that Tenant does not vacate the leased premises upon the expiration or termination of this Lease, Tenant shall be a tenant at will for the holdover period and all of the terms and provisions of this Lease shall be applicable during that period, except that Tenant shall pay Landlord as Base Rent for the period of such holdover in an amount equal to two (2) times the Base Rent which would have been payable by Tenant had the holdover period been a part of the original Lease Term. Tenant agrees to vacate and deliver the Premises to Landlord in accordance with the terms of this Lease upon its expiration or earlier termination. The failure by Tenant to timely vacate the Premises pursuant to this Section 5 without the express written consent of Landlord shall constitute a holdover under the provisions hereof. Tenant shall indemnify Landlord and hold Landlord harmless against all claims for damages by any new tenant. Nothing contained herein shall be constru ed as consent by Landlord to any holding over by Tenant. No such holdover by Tenant shall operate to extend the Lease Term or permit Tenant to retain possession of the Premises after the expiration date or sooner termination of the Lease Term. No payments of money by Tenant after expiration of the Lease Term or the earlier termination of this Lease will reinstate, continue or extend the Lease Term. 6. OPERATING COSTS. Tenant’s Rent has been negotiated to include its allocated share of Operating Costs in accordance with the terms and provisions of this Lease, however, i rrespective of the Base Rent and the included Tenant’s Share, Tenant shall also be directly responsible for the following: 6.1 Electricity Costs. The Premises are separately metered for electricity and Tenant shall be obligated to pay for electricity directly to the utility provider, including electricity for HVAC service to the Premises. 6.2 Personal Property Taxes. Tenant shall pay all taxes or assessments levied against Tenant’s business, equipment, furnishing or personal property at or in the Premises. 6.3 Waste Removal; Maintenance. Tenant shall pay all costs and expenses associated with all trash removal from the Premises to designated waste/trash removal receptacles on the Project. 6.4 Fire Inspection Annual Fee. Tenant shall pay all costs and expenses associated with the Fire Inspection Annual Fee. 6.5 Telephone, Internet, Etc. Tenant shall pay all costs and expenses associated with any telephone system, internet (WIFI costs). 6.6 Violations, Penalties. In addition to any related provision in this Lease, any violation related to Tenant’s use and occupancy of the Property. 7. ASSIGNMENT OR SUBLETTING. Tenant may not transfer any of its rights under this Lease, voluntarily or involuntarily, whether by merger, consolidation, dissolution, operation of law, or any other manner (any of which, a “transfer”), without Landlord’s consent, which may be withheld in Landlord’s reasonable discretion, except as set forth herein. Without limiting the generality of the foregoing, Tenant may not sublease, assign, mortgage, encumber, permit the transfer of direct or indirect ownership or control of the business entity comprising Tenant, or permit any portion of the Premises to be occupied by third parties. Any transfer by Tenant in violation of this article shall, at Landlord’s option, be void. Any assignment or sublet, to the extent approved by Landlord in writing, shall not serve to relieve Tenant from any of his Lease obligations. Tenant shall be required to pay all costs and fees, including legal fees, incurred by Landlord in its consideration to approve any sublet or assignment. If Landlord assigns this Lease to a successor who expressly assumes the obligations of Landlord, Landlord shall b e released from its obligations. In accordance with this Section 7, at any time during the Lease Term Tenant desires to assign this Lease or sublet a part of the Premises this Lease, then in connection with Tenant's request to Landlord for Landlord's consen t thereto, Tenant shall give notice to Landlord in writing containing: (i) the identity of the proposed assignee or other party and a description of its business; (ii) the terms of the proposed assignment or other transaction; (iii) the commencement date of the proposed assignment or other transaction; (iv) the area proposed to be assigned or sublet; and (v) the most recent financial statements, tax returns or other evidence of financial responsibility of such proposed assignee or other party. If in Landlord’s reasonab le determination, the proposed or assignee does not meet the financial or operations qualifications to operate at the Premises, Landlord shall be entitled to reject the proposed assignment and/or demand a personal guaranty from the proposed assignee or sublessee as a condition to its requested consent hereunder. In addition, any consent by Landlord to a lease assignment is expressly conting ent on the financials of such assignee being equal or greater than that of Tenant or Landlord shall be entitled to reject such request in Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 418 Page 4 of 19 its sole and absolute discretion. No approved assignment or sublet shall relieve Tenant from continuing liability under this Lease until the expiration or earlier termination hereof, unless expressly consented to in writing by Landlord. 8. INSURANCE. 8.1 Tenant’s Insurance. Tenant shall obtain and keep in full force and effect the following insurance coverages: commercial general liability insurance, including contractual liability, on an occurrence basis, on the then most current Insurance Services Office (“ISO”) form in the minimum amounts of $1 million per occurrence, $2 million general aggregate, including Designated Location(s) General Aggregate Limit; commercial automobile liability insurance, on an occurrence basis on the then most current ISO form, including coverage for owned, non-owned, leased, and hired automobiles, in the minimum amount of $1 million combined single limit for bodily injury and property damage; Special Causes of Loss form property insurance (ISO CP 10 30 or equivalent i n effect in the State in which the Premises are located), in an amount adequate to cover 100% of the replacement costs, without co-insurance, of all of Tenant’s property at the Premises; workers’ compensation insurance and employer’s liability insurance; business income and extra expense insurance covering the risks to be insured by the property insurance described above, on an actual loss sustained basis, but in all events in an amount sufficient to prevent T enant from being a co-insurer of any loss covered under the applicable policy or policies, including income coverage (business interruption) for a minimum six (6) month period; and such other insurance as may be reasonably required by Landlord. Tenant’s insurance shall provide primary coverage to the Landlord when any policy issued to any Landlord provides duplicate or similar coverage, and in such circumstance, Landlord’s policy will be excess over Tenant’s policy. All Tenant’s insurance except for coverage on Tenant’s personal property, shall name the Landlord both as named primary insured and as “Loss Payee” under such insurance. None of Tenant’s policies may have any deductibles over $10,000.00, or any self-insured retentions or any right of subrogation. 8.2 Insurance Requirements. All insurance policies shall be written with insurance companies and shall have coverage limits acceptable to Landlord and having a policyholder rating of at least “A-” and a financial size category of at least “Class XII” as rated in the most recent edition of “Best’s Key Rating Guide” for insurance companies. The commercial general liability and automobile liability insurance policies shall name the Landlord’s Parties as additional insureds on ISO CG 20 11 01 96 or equivalent and require prior notice of canc ellation to be delivered in writing to Landlord within the time period applicable to the first named insured. The commercial general liability policies shall include an unmodified Separation of In sureds provision. The following exclusions/limitations or their equivalent(s) are prohibited: Contractual Liability Limitation CG 21 39; Amendment of Insured Contract Definition CG 24 26; any endorsement modifying the Employer’s Liability exclusion or deleting the exception to it; any “Insured vs. Insured” exclusion except Named Insured vs. Named Insured; and any Punitive, Exemplary, or Multiplied Damages exclusion. Tenant shall furnish evidence that it maintains all insurance coverages requ ired under this Lease (ACORD 25 for liability insurance and the ACORD 28 for Commercial Property Insurance, with copies of declaration pages for each required policy) at least ten (10) days before entering the Premises for any reason. The ACORD 25 Form Certificate of Insurance for the liability insurance policy shall specify the policy form number and edition date and shall have attached to it a copy of the additional insureds endorsement listing Landlord and all of the parties covered by Tenant’s indemnification obligations under the Indemnification article. Coverage amounts for the liability insurance may be increased periodically in accordance with industry standards for similar properties. 8.3 Waiver of Subrogation. Except as otherwise provided in the penultimate sentence of this section, and without waiver of any other rights and remedies available to Landlord under this Lease or Florida law, Landlord and Tenant each expressly, knowingly, and voluntarily waive and release their respective rights of recovery that they may have against the other or the other’s Parties and against every other tenant in the Project who shall have executed a waiver similar to this one for lo ss or damage to its property, and property of third parties in the care, custody, and control of Tenant, and loss of business (specifically including loss of Rent by Landlord and business interruption by Tenant) directly or by way of subrogation or otherwise as a r esult of the acts or omissions of the other party or the other party’s Parties (specifically including the negligence of either party or its Parties, the intentional misconduct of the Parties of either party, and water damage to the Project), to the extent any such claims are covered by the property, rental income, business income, or extra expense insurance carried or required to be carried under the terms of this Lease (whether or not actually carried by either party), or other property insurance that either party may carry at the time of an occurrence or under a so-called “special perils” or “special form causes of loss” property insurance policy or under a so-called “contents” insurance policy (whether or not actually carried). Landlord and Tenant shall each, on or before the earlier of the Commencement Date or the date on which Tenant first enters the Premises for any purpose, obtain and keep in full force and effect at all times thereafter a waiver of subrogation from its insurer concerning the commercial general liability, comm ercial automobile liability, workers’ compensation, employer’s liability, property, rent al income, and business interruption insurance maintained by it for the Project and the property located in the Premises. The release by Landlord in favor of Tenant shall not apply, and shall be void and of no force or effect, if Landlord’s insurance coverage is denied, invalidated, or nullified by reason of any act or failure to act of any of the Tenant Parties or Tenant’s invitees. This section shall control over any other provis ions of this Lease in conflict with it and shall survive the expiration or sooner termination of this Lease. This waiver shall in no way limit Landlord’s right or amount of recovery against Tenant. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 419 Page 5 of 19 9. DEFAULT. 9.1 Events of Default. Each of the following shall be an event of default under this Lease: (a) Tenant fails to make any payment of Rent within three (3) business days of when due; (b) Tenant becomes bankrupt or insolvent or makes an assignment for the benefit of creditors or takes the benefit of any insolvency act, or if any debtor proceedings are taken by or against Tenant; (c) Tenant abandons the Premises; (d) Tenant transfers this Lease in violation of the Assignment or Subletting article; (e) Tenant fails to deliver an estoppel certificate or subordination agreement or maintain required insurance coverages within the time periods required by this Lease; (f) Tenant does not comply with its obligations to vacate the Premises under the Relocat ion or End of Term articles of this Lease; or (g) Tenant fails to perform any other obligation under this Lease within fifteen (15) days after receipt of written notice; provided, if Tenant, using commercially reasonable good faith efforts started within such fifteen (15) day period is unable to complete such cure, the cure period shall be extended another fifteen (15) days to a total of thirty (30) days from the date of receipt of written notice. 9.2 Remedies. Upon the occurrence of an Event of Default, in addition to all remedies provide d by law under Chapter 83, Florida Statutes, Landlord may declare immediately due and payable, and in addition to all Rent, Additional Rent and other charges due and unpaid as of the date of the Event of Default, liquidated damages for all Rent and other c harges which would be payable for the balance of the Term remaining after the date of such Event of Default over the remainder of th e Lease Term. If this Lease is rejected in any bankruptcy proceeding, Rent for the entire month in which the rejection occur s shall be due and payable in full and shall not be prorated. 9.3 Landlord’s Right to Perform. If Tenant defaults, Landlord may, but shall have no obligation to, perform the obligations of Tenant, and if Landlord, in doing so, makes any expenditures or incurs any obligation for the payment of money, including reasonable attorneys’ fees, the sums so paid or obligations incurred shall be paid by Tenant to Landlord within five (5) days of receipt of a bill or statement to Tenant therefor. 9.4 Late Charges, Interest, and Bad Checks. If any payment due Landlord shall not be paid within ten (10) days of the date when due (except where indicated otherwise including Section 9.3), Tenant shall pay, in addition to the payment then due, an administrative charge equal to the greater of (a) 5% of the past due payment; or (b) $250. All payments due Landlord shall bear interest at the lesser of: (a) 18% per annum, or (b) the highest rate of interest permitted to be charged by applicable law, accruing from the date the obligation arose through the date payment is actually received by Landlord, including after the date of any judgment against Tenant. If any check given to Landlord for any payment is dishonored for any reason whatsoever not attributable to Landlord, in addition to all other remedies available to Landlord, upon demand, Tenant will reimburse Landlord for all insufficient funds, bank, or returned check fees, plus an administrative fee not to exceed the maximum amount prescribed by law. In addition, Landlord may require all future payments from Tenant to be made by cashier’s check from a local bank, ACH payments, or by Federal Reserve wire transfer to Landlord’s account. 9.5 Limitations. None of Landlord’s officers, employees, agents, directors, shareholders, partners, members, managers, or affiliates shall ever have any personal liability to Tenant. No person holding Landlord’s interest shal l have any liability after such person ceases to hold such interest, except for any liability accruing while such person held such interest. TENANT SHALL LOOK SOLELY TO LANDLORD’S ESTATE AND INTEREST IN THE BUILDING FOR THE SATISFACTION OF ANY CLAIMS BY TENANT OF ANY KIND WHATSOEVER ARISING FROM THE RELATIONSHIP BETWEEN THE PARTIES OR ANY RIGHTS AND OBLIGATIONS THEY MAY HAVE RELATING TO THE PROPERTY, THIS LEASE, OR ANYTHING RELATED TO EITHER, AND NO OTHER ASSETS OF LANDLORD SHALL BE SUBJECT TO LEVY, EXECUTION, OR OTHER ENFORCEMENT PROCEDURE FOR THE SATISFACTION OF TENANT’S RIGHTS OR REMEDIES, OR ANY OTHER LIABILITY OF LANDLORD TO TENANT OF WHATEVER KIND OR NATURE. No act or omission of Landlord or its agents shall constitute an actual or constructive eviction of Tenant or a default by Landlord as to any of its obligations under this Leas e unless Landlord shall have first received writte n notice from Tenant of the claimed default and shall have failed to cure it after having been afforded reasonable time in which to do so, which in no event shall be less than 30 days. Further, Tenant waives any claims against Landlord that Tenant does not make in writing within 30 days of the onset of the cause of such claim. Landlord and Tenant each waive all rights they may have (to consequential damages, lost profits, punitive damages, or special damages of any kind, provided, Landlord may seek such damages in the event of a default by Tenant for the Estoppel Certificate, Subordination, and End of Term articles. 9.6 Presumption of Abandonment. It shall be conclusively presumed that the Tenant has abandoned the Premises if the Tenant fails to keep the Premises open for business during regular business hours for ten (10) consecutive days while in monetary default. Any grace periods set forth in this article shall not apply to the application of this presumption. 10. ALTERATIONS. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 420 Page 6 of 19 10.1 “Alterations” shall mean any alteration, addition, or improvement in or on or to the Premises of any kind or nature, including any improvements made before Tenant’s occupancy of the Premises. Tenant shall make no Alterations without the prior written consent of Landlord, which consent may be withheld or conditioned in Landlord’s sole discretion. However, Landlord will not unreasonably withhold or delay consent to non-structural interior Alterations, provided that they do not involve demolition of improvements, affect utility services or Building systems, are not visible from outside the Premises, do not affect Landlord’s insurance coverages for the Building, and do not require other alterations, additions, or improvements to areas outside the Premises. Tenant shall reimburse Landlord, on demand, for the actual out-of-pocket costs for the services of any third party employed by Landlord to review or prepare any Alteration-related plan or other document for which Landlord’s consent or approval is required. Landlord, or its agent or contractor, may supervise the performance of any Alterations, and, if so, Tenant shall pay to Landlord an amount up to five percent (5%) of the cost of the work, as a supervisory fee. 10.2 Except as may be expressly set forth in this Lease, Landlord has made no representation or promise as to the condition of the Premises, Landlord shall not perform any alterations, additions, or improvements to make the Premises suitable and ready for occupancy and use by Tenant, and Tenant shall accept possession of the Premises in its then “AS-IS”, “WHERE-IS” condition, without representation or warranty of any kind by Landlord. Except for work to be performed by Landlord, before any Alterations are undertaken by or on behalf of Tenant, Tenant shall obtain Landlord’s prior written approval of all contractors performing such Alterations, and shall deliver to Landlord any governmental permit required for the Altera tions and shall require any contractor performing work on the Premises to obtain and maintain, at no expense to Landlord, workers’ compensation and employer’s liability insurance, builder’s risk insurance in the amount of the replacement cost of the applicable Alterations (or such other amount reasonably required by Landlord), commercial general liability insurance, written on an occurrence basis with minimum limits of $2 million per occurrence limit, $2 million general aggregate limit, $2 million perso nal and advertising limit, and $2 million products/completed operations limit (including contractual liability, broad form property damage and contractor’s protective liability coverage); commercial automobile liability insurance, on an occurrence basis on the then most current ISO form, including coverage for owned, non -owned, leased, and hired automobiles, in the minimum amount of $1 million combined single limit for bodily injury and property damage; and excess liability insurance in the minimum amou nt of $5 million. Contractor’s insurance shall contain an endorsement insuring the Landlord as additional insureds and shall be primary over any other coverage available to the Landlord. The Contractor’s insurance shall also comply with the requirement of the Insurance article. 10.3 If Tenant desires to perform any Alterations, Tenant shall submit to Landlord complete plans and specifications for any such proposed Alterations, which shall be prepared by an architect licensed to do business in the State of Florida and approved in writing by Landlord (“Tenant’s Plans”). Tenant acknowledges that any review or approval of Tenant’s Plans by Landlord or consent by Landlord allowing Tenant to perform Alterations in the Premises is for Landlord’s purposes only and without any representation or warranty whatsoever to Tenant with respect to the adeq uacy, correctness or efficiency thereof or the compliance of the same with any legal requirements or insurance requirements or any other matter. 10.4 All Alterations, and the installation of all trade fixtures, and all repairs to the Premises, shall be performed diligently, using good construction practices and in accordance with (and Tenant shall and shall cause all of its contractors, architects, engineers, subcontractors and materialmen and others performing work or furnishing services or mater ials in connection with Tenant’s Alterations, to comply with) the provisions of this Lease. In performing any Alterations, Tenant is required to retain a registered architect and a licensed professional engineer. In addition, Tenant shall not commence any Alterations on the Premises until (A) Tenant shall have obtained Landlord’s written approval of Tenant’s Plans with respect thereto, (B) Tenant shall have obtained, at Tenant’s sole cost, all permits and approvals required by the City of Hollywood or any other related agencies, for performance of Alterations, and (C) Tenant shall have provided copies of all appropriate insurance certificates with Landlord. All Alterations, including, without limitation, all trade fixtures which may be installed or placed within the Premises from time to time, shall be new and in first-class condition. 10.5 Landlord shall have the right, but not the obligation, at any time during any construction or alteration performed by Tenant or Tenant’s representatives within or about the Premises to inspect Tenant’s Alterations, for compliance with Landlord’s requirements. 10.6 Landlord shall not consent to any Alterations by Tenant which, in Landlord’s judgment, would (a) affect (i) the structural integrity of the Building or is otherwise structural in nature, including floor penetrations and roof pene trations or roof mounting, (ii) utility services or plumbing and electrical lines, (iii) any part of the Building outside of the Pr emises, (iv) the Building equipment and other service systems of the Building, (v) the areas of the Premises designated by Landlord or any governmental or quasi-governmental authority as “Historic Areas”, or (vi) signage, (b) diminish the value or utility of the Building, or (c) require the consent of the holder of any indebtedness secured by a mortgage encumbering the Project. 10.7 All Alterations by Tenant shall also comply with Landlord’s rules and requirements for contractors Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 421 Page 7 of 19 performing work in the Project. Tenant’s delivery to Landlord of all required insurance as well as all required permits and approved architect and engineering plans (as may be applicable) shall be a condition precedent to Landlord’s allowance of any approved Tenant Alterations to proceed. 10.8 All fixtures, built-in equipment, plumbing and other utility installations, air and exhaust ducts, installed in the Premises at any time, either by Tenant or by Landlord on Tenant’s behalf, shall become the property of Landlord and sh all remain upon and be surrendered with the Premises. Upon removal from the Premises of any items, Tenant shall immediately and at its expense, repair and restore the Premises to the condition existing prior to installation and repair any damage to the Premises due to such removal. All property permitted or required to be removed by Tenant at the end of the Term remaining in the Premises after Tenant’s removal shall be deemed abandoned and may, at the election of Landlord, either be retained as Landlord’s property or may be removed from the Premises by Landlord, and Tenant shall, upon demand, reimburse Landlord for the cost of such removal and the cost of repairing and restoring the Premises to the condition existing prior to installation and repairing any damage to the Premises due to such removal. 11. LIENS. The interest of Landlord in the Premises shall not be subject in any way to any liens, including construction liens, for Alterations made by or on behalf of Tenant. This exculpation is made with express reference to Section 713.10, Florida Statutes. Tenant represents to Landlord that any improvements that might be made by Tenant to the Premises are not required to be made under the terms of this Lease and that any improvements which may be made by Tenant do not constitute the "pith of the lease" under applicable Florida case law. NOTICE IS HEREBY GIVEN THAT LANDLORD IS NOT AND SHALL NOT BE LIABLE FOR ANY LABOR, SERVICES OR MATERIALS FURNISHED OR TO BE FURNISHED TO TENANT OR TO ANYONE HOLDING ANY INTEREST IN ANY PART OF THE PROPERTY, AND THAT NO CONSTRUCTION LIENS OR OTHER LIENS FOR ANY SUCH LABOR, SERVICES OR MATERIALS SHALL ATTACH TO OR AFFECT THE INTEREST OF LANDLORD IN AND TO THE PROPERTY. Tenant shall notify all contractors and material suppliers with whom it contracts of the provisions of this Section as required by F. S. 713.10. If any lien is filed against the Premises for work or materials claimed to have been furnished to Tenant, Tenant shall cause it to be discharged of record or properly transferred to a bond under Section 713.24, Florida Statutes, within ten (10) days after notice to Tenant. Further, Tenant shall indemnify, defend, and save Landlord harmless from and against any damage or loss, including reasonable attorneys’ fees , incurred by Landlord as a result of any liens or other claims arising out of or related to work performed in the Premises by or on behalf of Tenant. 12. ACCESS TO PREMISES. Landlord and persons authorized by Landlord shall have the right, at all reasonable times, to enter and inspect the Premises and to make repairs and alterations Landlord deems necessary, with reasonable prior notice (which may be by telephone or e-mail), except in cases of emergency and for provision of janitorial services, when no notice shall be required. 13. COMMON AREAS. The “Common Areas” of the Project include such areas and facilities as delivery facilities, walkways, landscaped and planted areas, and parking facilities and are those areas designated by Landlord for the general use in common of occupants of the Project, including Tenant. The Common Areas shall at all times be subject to the exclusive control and management of Landlord. Landlord may grant third parties specific rights concerning portions of the Common Areas. Landlord may increase, reduce, improve, or otherwise alter the Common Areas, otherwise make improvements, alterations, or additions to the Project, and change the name or number by which the Building or Project is known. Landlord may also temporarily close the Common Areas to make repairs or improvements. In addition, Landlord may temporarily close the Building or Project and preclude access to the Premises in the event of casualty, governmental requirements, the threat of an emergency such as a hurricane or other act of God, or if Landlord otherwise reasonably deems it necessary in order to prevent damage or injury to person or property. This Lease does not create, nor will Tenant have any express or implied easement for, or other rights to, air, light, or view over, from, or about the Project. 14. SECURITY INTEREST. In addition to any Landlord lien afforded to Landlord under the Florida Statutes, as security for Tenant’s obligations under this Lease, Tenant grants to Landlord a security interest in this Lease and all property of Tenant now or hereafter placed in or upon the Premises including, inventory, equipment or fixtures, now or hereafter located at the Premises and all insurance proceeds of or relating to Tenant’s property and all accessions and additions to, substitutions for, and replacements, products, and proceeds of the Tenant’s property. This Lease constitutes a security agreement under the Florida Uniform Commercial Code. This security interest shall survive the expiration or sooner termination of this Lease. Any personal property which is kept or stored by Tenant within or outside of the Premises is stored at Tenant’s sole risk and Landlord shall not be liable to Tenant in any manner whatsoever for any loss, unless the result of Landlord’s gross negligence. Any renovations, improvements or alterations to the Premises performed by Tenant, and all fixtures, furniture, storefronts, built -in equipment, plumbing and other utility installations, air and exhaust ducts, installed in the Premises at any time, either by Tenant or by Landlord on Tenant’s behalf, shall become the property of Landlord and shall remain upon and be surrendered with the Premises. Any trade fixtures, signs and other personal property of Tenant not permanently affixed to the Premises shall remain the property of Tenant. Tenant may not sell, transfer, dispose or remove from the Premises any or all of the personal property, Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 422 Page 8 of 19 trade fixtures, etc., except in the ordinary course of business or if replacing same with items of equal or greater value. In the event Tenant removes, attempts to remove, or permits to be removed personal property from the Premises, except for replacement or in the usual course of business or remodeling of the business, such removal shall be a default hereunder. 11 CASUALTY DAMAGE. If: (a) the Building or Project or a material part of the Common Areas shall be so damaged that substantial alteration or reconstruction shall, in Landlord’s opinion, be required (whether or not the Premises shall have been damaged by the casualty); or (b) Landlord is not permitted to rebuild the Building or Project or a material part of the Common Areas in substantially the same form as it existed before the damage; or (c) the Premises shall be materially damaged by casualty during the last two (2) years of the Lease Term; or (d) any mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (e) the damage is not covered by insurance maintained by Landlord; then Landlord may, in its sole discretion, within ninety (90) days after the casualty, give notice to Tenant of Landlord’s election to terminate this Lease, and the balance of the Lease Term shall automatically expire on the fifth day after the notice is delivered. If Landlord does not elect to terminate this Lease, Landlord shall proceed with reasonable diligence to restore the Building and the Premises to substantially the same condition they were in immediately before the casualty, excluding any Tenant Alterations. However, Landlord shall not be required to restore any unleased premises in the Building or any portion of Tenant’s property. Rent shall only abate solely in proportion to the portion of the Premises not usable by Tenant as a result of any casualty resulting in damage to the Building which is not covered by insurance carried or required to be carried by Tenant under this Lease, as of the date on which the Premises becomes unusable (to wit, Tenant is required to carry business interruption insurance to pay for all rent in the event of a casualty, insuring Tenant’s ability to cover the full Rent and additional rent for a period up to one (1) year. After one (1) year, if a material part of the Premises is not restored for Tenant’s use, Tenant may terminate this Lease on ninety (90) days’ notice if Landlord’s repair or restoration work remains substantially incomplete (excluding punch list items). After expiration of the business interruption insurance period, Rent shall abate for any portion of the Premises unusable by Tenant. Landlord shall not otherwise be liable to Tenant for any delay in restoring the Premises or any inconvenience or annoyance to Tenant or injury to Tenant’s business resulting in any way from the damage or the repairs, Tenant’s sole remedy being the right to an abatement of Rent. 15. CONDEMNATION. If the whole or any substantial part of the Premises shall be condemned by eminent domain or acquired by private purchase in lieu of condemnation, this Lease shall terminate on the date on which possession of the Pr emises is delivered to the condemning authority and Rent shall be apportioned and paid to that date. If no portion of the Pr emises is taken but a substantial portion of the Building is taken, at Landlord’s option, this Lease shall terminate on the date on which pos session of such portion of the Building is delivered to the condemning authority and Rent shall be apportioned and paid to that date. Tenant shall have no claim against Landlord and assigns to Landlord any claims it may have otherwise had, for the value of any unexpired portion of the Lease Term, or any Alterations. Tenant shall not be entitled to any part of the condemnation award or private purchase price. If this Lease is not terminated as provided above, Rent shall abate in proportion to the portion of the Premises condemned. Nothing contained herein, however, shall prevent Tenant from pursuing a separate claim against the authority for relocation expenses and for the value of furnishings, equipment and trade fixtures installed in the Premises at Tenant’s expense and which Tenant is entitled pursuant to this Lease to remove at the expiration or earlier termination of the Lease Term, provided that such claim shall in no way diminish the award, damages or compensation payable to or recoverable by Landlord in connection with such condemnation. 16. REPAIR AND MAINTENANCE. Landlord shall repair and maintain in good order and condition, ordinary wear and tear excepted, mechanical and equipment rooms, the roof of the Building, the exterior walls of the Building, the ext erior windows of the Building, the structural portions of the Building, and the elec trical, plumbing, mechanical, fire protection, and life safety servicing the Building. However, unless the Waiver of Subrogation section applies, the Tenant shall pay the cost of any such repairs or maintenance resulting from acts or omissions of the Tenant Parties. Tenant waives the provisions of any law, or any right Tenant may have under common law, permitting Tenant to make repairs at Landlord’s expense or to withhold Rent or terminate this Lease based on any alleged failure of Landlord to make rep airs. All costs associated with the repair and maintenance obligations of Landlord under this article shall be included in and constitute Operating Costs. Except to the extent Landlord is obligated to repair and maintain the Premises as provided above, Ten ant shall, at its sole cost, repair, replace, and maintain the Premises (including the walls, ceilings, and floors in the Premises, HVAC system, and any specialized or supplemental electrical, lighting, plumbing, mechanical, fire protection, life safety systems exclusively for Tenant’s use but excluding fire sprinklers or other devices that are connected to a building wide system unless damages as a result of Tenant’s negligence) in a clean, attractive, first- class condition. All replacements shall be of equal quality and class to the original items replaced. Tenant shall enter into and maintain an annual maintenance contract with an air conditioning service firm. Tenant shall furnish to Landlord from time to time and upon request of Landlord, a copy of the air conditioning maintenance contract and the yearly service reports from the contractor. Tenant shall not commit or allow to be committed any waste on any portion of the Premises. 17. ESTOPPEL CERTIFICATES. From time to time, Tenant, on not less than five (5) business days’ prior notice, shall execute and deliver to Landlord an estoppel certificate in a form generally consistent with the requirements of institutional lenders and certified to all or any of Landlord, any mortgagee or prospective mortgagee, or prospective purchaser of the Building. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 423 Page 9 of 19 18. SUBORDINATION. This Lease is and shall be subject and subordinate to all mortgages and ground leases that may now or hereafter affect the Building, and to all renewals, modifications, consolidations, replacements, and extensions of the mortgages and leases. This article shall be self-operative, and no further instrument of subordination shall be necessary. However, in confirmation of this subordination, Tenant shall execute any agreement that Landlord may request within five (5) days after receipt from Landlord. If any ground or underlying lease is terminated, or if the interest of Landlord under this Lease is transferred by reason of or assigned in lieu of foreclosure or other proceedings for enforcement of any mortgage, or if the holder of any mortgage acquires a lease in substitution for the mortgage, or if this Lease is terminated by termination of any lease or by foreclosure of any mortgage to which this Lease is or may be subordinate, then Tenant will, at the option to be exercised in writing by the landlord under any ground or underlying lease or the purchaser, assignee, or tenant, as the case may be (a) attorn to it and will perf orm for its benefit all the terms, covenants, and conditions of this Lease on Tenant’s part to be performed with the same force and effect as if the landlord or the purchaser, assignee, or tenant were the landlord originally named in this Lease, or (b) enter into a new lease with the landlord or the purchaser, assignee, or tenant for the remainder of the Lease Term and otherwise on the same terms, conditions, and rents as provided in this Lease 19. INDEMNIFICATION. To the fullest extent permitted by law, Tenant shall indemnify, defend, and save harmless the Landlord from and against any and all liability (including reasonable attorneys’ fees) resulting from claims by third parties in connection with the Premises. Similarly, to the fullest extent permitted by law, Landlord shall indemnify, defend, and save harmless the Tenant Parties from and against any and all liability (including reasonable attorneys’ fees) resulting from clai ms by third parties in connection with the Common Areas to the same extent that Tenant would have been covered had it been named as an additional insured on the commercial general liability insurance policy carried by Landlord for the Project. It is intended that the indemnitor indemnify the indemnitee, and its Parties against the consequences of their own negligence or fault, even when the indemnitee or its Parties is jointly, comparatively, contributively, or concurrently negligent with the indemnitor, and even though any such claim, cause of action, or suit is based upon or alleged to be based upon the strict liability of the inde mnitee or its Parties, and the indemnitor waives and releases all claims against the indemnitee and its Parties for any claim covered by the indemnity obligations of the indemnitor under this Article. This Indemnification article shall not be construed to restrict, limit, or modify either party’s insurance obligations under this Lease, nor shall Landlord’s or Tenant’s indemnification obligations under thi s article be limited by the minimum amounts of insurance carried or required to be carried under the ter ms of this Lease by either party. Either party’s compliance with the insurance requirements under this Lease shall not restrict, limit, or modify that party’s obligations under this Indemnification article. In addition to the foregoing, Tenant shall indemnify, defend, and save harmless the Landlord from and against any and all liability (including reasonable attorneys’ fees) resulting from claims for damages or i njury by water claims by Tenant or by third parties in connection with the Premises. These indemnification provisions shall survive the expiration or sooner termination of this Lease. 20. NO WAIVER. The failure of a party to insist on the strict performance of any provision of this Lease or to exercise any remedy for any default shall not be construed as a waiver. The waiver of any noncompliance with this Lease shall not prevent subsequent similar noncompliance from being a default. No waiver shall be effective unless expressed in writing and signed by the waiving party. No notice to or demand on a party shall of itself entitle the party to any other or further notice or demand in similar or other circumstances. The receipt by Landlord of any Rent after default on the part of Tenant (whether the Rent is due before or after the default) shall not excuse any delays as to future Rent payments and shall not be deemed to operate as a waiver of any then-existing default by Tenant or of the right of Landlord to pursue any available remedies. No payment by Tenant, or receipt by Landlord, of a lesser amount than the Rent actually owed under the terms of this Lease shall be deemed to be anything other than a payment on account of the earliest stipulated Rent due. No endorsement or statement on any check or any letter accompanying any check or payment of Rent will be deemed an accord and satisfaction. Landlord may accept the check or payment without prejudice to Landlord’s right to recover the balance of the Rent or to pursue any other remedy. It is the intention of the parties that this article will modify the common law rules of waiver and estoppel and the provisions of any statute that might dictate a contrary result. 21. SERVICES AND UTILITIES. 21.1 Services Furnished. In accordance with this Lease, including Section 6 hereof, Tenant shall be solely responsible for and shall promptly pay all charges for electricity, or any other utility used or consumed in the Premises, including electricity costs for HVAC services to the Premises, and all costs associated with the provision of a separate electric meter for the Premises. Tenant’s use of electrical, HVAC or other services furnished by Landlord shall not exceed, either in voltage, rated capacity, use, or overall load that which Landlord deems to be standard for the Building . Tenant shall pay all costs associated with any such additional utility usage. If any utility is directly metered, the Tenant shall pay the costs for such utility directly to the utility company based on its metered usage. If any such utilities are submet ered, Tenant shall pay Landlord monthly for such utility services to the Premises based on its usage as indicated on the sub -meter. If any such utilities are not separately metered or assessed or are only partially separately metered or assessed and are used in common with other Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 424 Page 10 of 19 tenants in the Building or Project, as the case may be, Tenant shall pay to Landlord its proportionate share of such charges as part of Operating Costs, in addition to Tenant’s payments of the separately metered charges with the Landlord determining or estimating the proper amount of such usage with the Landlord’s determination or estimation as being binding on the Tenant without any objection right. Landlord may install sub-meters or re- registering meters, all at the Tenant’s expense, and collect any and all charges aforesaid from Tenant, making returns to the proper public utility company or governmental unit, provided that Tenant shall not be charged more than the rates it would be charged for the same services if furnished directly to the Premises by the local utility company. Tenant shall pay to Landlord the costs of any modification to any Project utility or service system necessary to accommodate Tenant. Notwithstanding the foregoing, Landlord shall not be required to make any modification to any utility or service system of the Project on behalf of Tenant. Landlord shall have the right to select the Building’s electric service provider and to switch providers at any time. Landlord shall not be liable to Tenant for any loss or damage or expense that Tenant may sustain or incur if either the quantity or character of electric service or any other utility service to the Premises is changed or is no longer available or suitable for Tenant’s requirements. 21.2 Excess Usage. Tenant’s use of electrical and heating, ventilating, and air conditioning services furnished by Landlord shall not exceed, either in voltage, rated capacity, use, or overall load, that which Landlord deems to be standa rd for the Building. If Tenant requests permission to consume electrical or heating, ventilating, and air conditioning services in excess of Building standard levels, Landlord may refuse to consent to the usage or may consent on conditions specified by Landlord (including the installation of utility service upgrades, submeters, air handlers, or cooling units), and all costs associated with the additional usage and the installation and maintenance of facilities for the additional usage shall be paid by Tenant as additional rent. 21.3 Interruption of Services. In no event shall Landlord be liable for damages resulting from any of the fixtures or equipment in the Project being out of repair, or for injury to persons, property, or business caused by any defects in the electric, elevator, HVAC, or water apparatus, or for any damages arising out of the failure to furnish HVAC, elevator, water, electric, or other service, unless caused by the gross negligence or intentional acts of Landlord, and any interruption or fa ilure shall in no manner constitute an eviction of Tenant or entitle Tenant to abatement of any Rent due under this Lease. 21.4 Access Systems. If at any time during the Lease Term the Project has any type of card access system for the Parking Areas or the Building, Tenant shall purchase access card s for all occupants of the Premises from Landlord at a Building standard charge and shall comply with Building standard terms relating to access to the Parking Areas and the Building. 22. [Reserved]. 23. GOVERNMENTAL REGULATIONS. Tenant shall promptly comply with all laws, codes, and ordinances of governmental authorities, including the Americans with Disabilities Act of 1990 (the “ADA”) and all similar present or future laws relating to the Premises, including the performance of any work to the Common Areas i f required because of Tenant’s specific use (as opposed to general use) of the Premises or Alterations to the Premises made by Tenant. 24. SIGNS. No signage shall be placed by Tenant on any portion of the Project, except as approved by Landlord which shall not be unreasonably withheld. Tenant shall be entitled to building standard signage on the entrance door, above the door on the fascia, and on the monument sign. To the extent any proposed signage is approved by Landlord, no such approval shall be deemed or construed to waive Tenant’s express obligation to comply with all applicable laws and governmental regulations relating to such proposed signage (installation, dimensions, etc.) and Landlord expressly disclaims any representations as to such compliance. 25. BROKER. Landlord and Tenant each represent and warrant that they have neither consulted nor negotiated with any broker or finder regarding the Premises, except for any Broker of Landlord and/or Tenant (if any) listed in Article 1.15 (collectively, the “Broker”). To the extent there is a Broker involved with this Lease, absent a different arrangement agreed to between the Parties, Landlord shall pay any agreed fee compensation owed to the Broker pursuant to separate written agreements, provided that neither the foregoing nor anything else in this Lease is intended to grant such Brokers any rights under this Lease or make them third party beneficiaries of this Lease. Tenant shall indemnify, defend, and hold Landlord harmless from and against any claims for commissions from any real estate broker other than the Landlord’s Broker and Tenant’s Broker with whom it has dealt in connection with this Lease. Landlord shall indemnify, defend, and hold Tenant harmless against payment of any leasing commission due the Landlord’s Broker and Tenant’s Broker in connection with this Lease and any claims for commissions from any real estate broker other than the Landlord’s Broker and Tenant’s Broker with whom Landlor d has dealt in connection with this Lease. The Broker shall be paid as of the Rent Commencement Date. The terms of this Article shall survive the expiration or earlier termination of this Lease. In addition, in the event that Tenant fails to pay any portion of Rent under the Lease, Landlord shall be entitled to recover from the Tenant, any unamortized portion of the Broker fee paid for the remainder of the Lease. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 425 Page 11 of 19 Landlord’s right to recover any portion of any Broker fee due to an Event of Default by Tenant hereunder shall supersede any prior or future agreement, unless such agreement expressly agrees, in writing, that Landlord has specifically waived its right to s eek reimbursement specifically under this Article. Further, independent of the Landlord’s right to recover the foregoing unamortized portion of the Broker fee from Tenant, Landlord may recover same from any Guarantor to this Lease. 26. END OF TERM. Tenant shall surrender the Premises to Landlord at the expiration or sooner termination of this Lease or Tenant’s right of possession in good order and condition, broom-clean, except for reasonable wear and tear. All Alterations made by Landlord or Tenant to the Premises shall become Landlord’s property on the expiration or sooner termination of the Lease Term. On the expiration or sooner termination of the Lease Term, Tenant, at its expense, shall remove from the Premises all of Tenant’s personal property, all computer and telecommunications wiring, and all Alterations that Landlord designates by notice to Tenant. Tenant shall also repair any damage to the Premises caused by the removal. Any items of Tenant’s property that shall remain in the Premises after the expiration or sooner termination of the Lease Term, may, at the option of Landlord and without notice, be deemed to have been abandoned, and in that case, those items may be retained by Landlord as its property to be disposed of by Landlord, without accountability or notice to Tenant or any other party, in the manner Landlord shall determine, at Tenant’s expense. 27. ATTORNEYS’ FEES. Except as otherwise provided in this Lease, the prevailing party in any litigation or arbitration arising out of or in any manner relating to this Lease, including the declaration of any rights or obligations under this Lease, shall be entitled to recover from the losing party reasonable attorneys’ fees (including paralegal and legal assistant) and costs, including fees for litigating the fees incurred and fees in connection with all trial, appellate or bankruptcy. In addition, if Landlord becomes a party to any suit or proceeding affecting the Premises or involving this Lease or Tenant's interest under this Lease, other than a suit between Landlord and Tenant, or if Landlord engages counsel to collect any of the amounts owed under this Lease, or to enforce performance of any of the agreements, conditions, covenants, provisions, or stipulations of this Lease, without commencing litigation, then the costs, expenses, and reasonable attorneys' fees (including paralegal and legal assistant) and disbursements incurred by Landlord shall be paid to Landlord by Tenant. 28. NOTICES. Any notice to be given under this Lease by Tenant to Landlord (or by Tenant’s counsel) shall be in writing and delivered by nationally recognized overnight air courier service (such as FedEx), or by the United States Postal Service, registered or certified mail, return receipt requested, in each case addressed to the respective party at the party’s notice address and in the case of Landlord to Tenant only, via email. Any notice sent by email to Tenant which shall constitute valid notice without obligation to serve by other means. A notice shall be deemed effective upon receipt, or the date sent if it is by email or if it is returned to the address or because it is refused, unclaimed, or the addressee has moved. 29. EXCUSABLE DELAY. For purposes of this Lease, the term “Excusable Delay” shall mean any delays due to strikes, lockouts, civil commotion, war or warlike operations, acts of terrorism, acts of a public enemy, acts of bioterrorism, epidemics, quarantines, invasion, rebellion, hostilities, military or usurped power, sabotage, government regulations or controls, inability to obtain any material, utility, or service because of governmental restrictions, hurricanes, floods, or other natural disasters , acts of God, or any other cause beyond the direct control of the party delayed. Notwithstanding anything in this Lease to the contrary, if Landlord or Tenant shall be delayed in the performance of any act required under this Lease by reason of any Excusable Delay, then performance of the act shall be excused for the period of the delay and the period for the performance of the act shall be extended for a reasonable period, in no event to exceed a period equivalent to the period of the delay. The provisions of thi s article shall not operate to excuse the Tenant from the payment of Rent or from surrendering the Premises at the end of the Lease Term, or from the obligations to maintain insurance, and shall not operate to extend the Lease Term. Delays or failures to perform resulting from lack of funds or the increased cost of obtaining labor and materials shall not be deemed delays beyond the direct control of a party. 30. QUIET ENJOYMENT. Landlord covenants and agrees that, conditioned upon Tenant’s paying rent and performing all of the other provisions of this Lease on its part to be performed, Tenant may peaceably and quietly hold and enjoy the Premises for the Lease Term without material hindrance or interruption by Landlord or any other person claiming by, through, or under Landlord, subject, nevertheless, to the terms, covenants, and conditions of this Lease and all existing or future ground leases, underlying leases, or mortgages encumbering the Project. 31. RELOCATION OF TENANT. Landlord may move Tenant from the Premises to a reasonably equivalent space within the Project comparable in size and layout, on not less than ninety (90) days’ notice to Tenant. If Landlord relocates Tenant, Landlord shall perform the interior improvements to the new space of approximate equivalence to the interi or improvements in the original Premises and pay the reasonable costs of moving Tenant’s property to the new space. Landl ord will also reimburse Tenant for reasonable costs of replacement of stationery, and telecommunications relocation. Such a relocation shall not terminate or otherwise modify this Lease except that from and after the date of the relocation, the “Premises” shall refer to the relocation space into which Tenant has been moved, rather than the original Premises as defined in this Lease. If the rentable area of the relocation Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 426 Page 12 of 19 space is more or less than the rentable area of the original Premises, then the Base Rent and Tenant’s Allocated Share and al l other terms of this Lease derived from the area of the Premises shall be appropriately adjusted. 32. PARKING. Tenant acknowledges that there are no designated parking spots associated with the Lease. Guests and invitees of Tenant shall park in the areas that are directly in front of the Premises occupied by Tenant. Tenant shall not block, hinder, or prevent access of other tenants at the Building. Landlord shall have no liability to Tenant for unauthorized parking and shall not be required to tow any unauthorized vehicles. Tenant and its employees shall park in the back of the Building so to allow guests or invitees to use any parking spaces located in the front of the Building . Notwithstanding any default cure timeframes set forth in Article 9.1 of this Lease, in the event Tenant breaches this article 32, and fails to cure such breach within two (2) business days of Landlord’s notice of such breach, Tenant shall be in default of this Lease. 33. LANDLORD’S RIGHT TO TERMINATE. Tenant expressly acknowledges and agrees that Landlord shall have the express and irrevocable right to terminate this Lease (the “Termination Right”), exercised by delivery of two (2) months’ written notice to Tenant (the “Termination Notice”). In the event Landlord exercises its Termination Right in accordance with the foregoing, Tenant shall be required to vacate and surrender the Premises in the condition set forth in the Lease on or be fore the last day of the two (2) month period following service of the termination Notice (the “Termination Date”). Upon the termination of the Lease, the Landlord and the Tenant shall be released from all further ongoing payment obligations hereunder, except for those that expressly survive the termination or expiration of the Lease (e.g. indemnification). Tenant’s agreement to the provisions of this Section 33 is a material inducement to Landlord entering into this Lease with Tenant. 34. GENERAL PROVISIONS. 34.1 Miscellaneous. The words “including” and “include”, and similar words will not be construed restrictively to limit or exclude other items not listed. If any provision of this Lease is determined to be invalid, illegal, or unenforceable, the remaining provisions of this Lease shall remain in full force, if the essential provisions of this Lease for each party r emain valid, binding, and enforceable. The parties may amend this Lease only by a written agreement of the parties. There are no conditions precedent to the effectiveness of this Lease, other than Landlord counter-executing this Lease and those expressly stated in this Lease. This Lease is neither legally binding nor enforceable unless Landlord countersigns same and shall not be deemed an offer. Landlord and Tenant intend that faxed, DocuSign or PDF format signatures constitute original signatures binding on the parties. This Lease shall bind and inure to the benefit of the heirs, personal representatives, and, except as otherwise provided, the successors and assigns of the parties to this Lease. Each provision of this Lease shall be deemed both a covenant and a condition and shall run with the land. Any liability or obligation of Landlord or Tenant arising during the Lease Term shall survive the expiration or earlier termination of this Lease. 34.2 RADON GAS. THE FOLLOWING NOTIFICATION IS PROVIDED UNDER SECTION 404.056(5), FLORIDA STATUTES: “RADON IS A NATURALLY OCCURRING RADIOACTIVE GAS THAT, WHEN IT HAS ACCUMULATED IN A BUILDING IN SUFFICIENT QUANTITIES, MAY PRESENT HEALTH RISKS TO PERSONS WHO ARE EXPOSED TO IT OVER TIME. LEVELS OF RADON THAT EXCEED FEDERAL AND STATE GUIDELINES HAVE BEEN FOUND IN BUILDINGS IN FLORIDA. ADDITIONAL INFORMATION REGARDING RADON AND RADON TESTING MAY BE OBTAINED FROM YOUR COUNTY HEALTH DEPARTMENT.” 34.3 Exhibits. All exhibits, riders, and addenda attached to this Lease shall, by this reference, be incorporated into this Lease. The following exhibits are attached to this Lease: EXHIBIT “A” – Legal Description of the Project EXHIBIT “B” – Rules and Regulations 35. Binding Effect; Choice of Law; Venue. This Lease shall be binding upon the parties, their personal representatives, successors and assigns and be governed by the laws of the State of Florida. All proceedings brought related to this Lease, or in connection with any cause of action, claim, counter-claim, or cross-complaint in any action, proceeding and/or hearing brought by Landlord or Tenant in any way connected with this Lease or the negotiations leading up to the Lease, the relations hip of Landlord and Tenant, Tenant's use or occupancy of the Premises or any claim of injury or damage, or the enforcement of any remedy under any law, statute or regulation now or hereafter in effect, shall be brought in the State Court’s located in Palm Beach County, Florida, which shall have exclusive jurisdiction over such matter and each party consents to such jurisdiction and waives any claim of inconvenient forum. 36. CONSTRUCTION; MERGER. THIS LEASE HAS BEEN NEGOTIATED “AT ARM’S -LENGTH” BY LANDLORD AND TENANT, EACH HAVING THE OPPORTUNITY TO BE REPRESENTED BY LEGAL COUNSEL OF Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 427 Page 13 of 19 ITS CHOICE AND TO NEGOTIATE THE FORM AND SUBSTANCE OF THIS LEASE. THEREFORE, THIS LEASE SHALL NOT BE MORE STRICTLY CONSTRUED AGAINST EITHER PARTY BECAUSE ONE PARTY MAY HAVE DRAFTED THIS LEASE. THIS LEASE SHALL CONSTITUTE THE ENTIRE AGREEMENT OF THE PARTIES CONCERNING THE MATTERS COVERED BY THIS LEASE. ALL PRIOR UNDERSTANDINGS AND AGREEMENTS HAD BETWEEN THE PARTIES CONCERNING THOSE MATTERS, INCLUDING ALL PRELIMINARY NEGOTIATIONS, LEASE PROPOSALS, LETTERS OF INTENT, AND SIMILAR DOCUMENTS, ARE MERGED INTO THIS LEASE, WHICH ALONE FULLY AND COMPLETELY EXPRESSES THE UNDERSTANDING OF THE PARTIES. THE PROVISIONS OF THIS LEASE MAY NOT BE EXPLAINED, SUPPLEMENTED, OR QUALIFIED THROUGH EVIDENCE OF TRADE USAGE OR A PRI OR COURSE OF DEALINGS. 37. NO RELIANCE; INCONTESTABILITY. EACH PARTY AGREES IT HAS NOT RELIED UPON ANY STATEMENT, REPRESENTATION, WARRANTY, OR AGREEMENT OF THE OTHER PARTY EXCEPT FOR THOSE EXPRESSLY CONTAINED IN THIS LEASE, AND EACH PARTY HEREBY WAIVES AND RE LEASES ALL CLAIMS AND CAUSES OF ACTION FOR FRAUD IN THE INDUCEMENT OR PROCUREMENT OF THIS LEASE, IT BEING THE PARTIES’ INTENT THAT THIS LEASE BE INCONTESTABLE ON ACCOUNT OF ANY CLAIM OF FRAUD, OR FOR ANY OTHER REASON. THE FOREGOING WAIVER AND RELEASE IS MADE BY EACH PARTY IN CONSIDERATION OF THE OTHER PARTY’S RECIPROCAL WAIVER AND RELEASE, AND IS A MATERIAL INDUCEMENT FOR EACH PARTY IN ENTERING INTO THIS LEASE. 38. JURY WAIVER; COUNTERCLAIMS. LANDLORD AND TENANT KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM INVOLVING ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS LEASE, THE LANDLORD/TENANT RELATIONSHIP, OR THE PROJECT. TENANT FURTHER WAIVES THE RIGHT TO INTERPOSE ANY PERMISSIVE COUNTERCLAIM OF ANY NATURE IN ANY ACTION TO OBTAIN POSSESSION OF THE PREMISES. [signature page to follow] Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 428 Page 14 of 19 IN WITNESS WHEREOF, this Lease has been executed on behalf of Landlord and Tenant as of the Effective Date. LANDLORD: 217 NE 3RD ST LLC, a Florida limited liability company By: __________________________________ Print: IAN SILVERMAN Title: MANAGER Date Executed: _________________________ TENANT: JOSEPH MENARDY, an individual _____________________________________ JOSEPH MENARDY Date Executed: _________________________ 03 / 31 / 2025 03 / 31 / 2025 Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 429 Page 15 of 19 EXHIBIT “A-1” LEGAL DESCRIPTION OF THE PROJECT Lots 1 and 2 and the East 33-1/2 feet of Lot 3, Block 3, ORIGINAL TOWN OF BOYNTON BEACH (now City of Boynton Beach), according to the Plat thereof on file in the office of the Clerk of the Circuit Court in and for Palm Beach County, Florida, recorded in Plat Book 1, Page 23, LESS that portion of Lot 1 conveyed to the State of Florida in Official Record Book 1398, Page 111, Public Records of Palm Beach County, Florida. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 430 Page 16 of 19 EXHIBIT “B” RULES AND REGULATIONS 1. The sidewalks and public portions of the Project, such as entrances, passages, courts, parking areas, elevators, vestibules, stairways, corridors, or halls shall not be obstructed or encumbered by the Tenant Parties or Tenant’s invitees n or shall they be used for any purpose other than ingress and egress to and from the Premises. 2. No awnings or other projections shall be attached to the outside walls of the Project. No curtains, blinds, shades, louvered openings, or screens or anything else which may be visible from outside the Building shall be attached to or hung in, or used in connection with, any window or door of the Premises, without the prior written consent of Landlord. No aerial or antenna shall be erected on the roof or exterior walls of the Premises or on the Project. 3. No sign, advertisement, notice, or other lettering shall be exhibited, inscribe d, painted, or affixed by Tenant on any part of the outside of the Premises or Project or on corridor walls or doors or mounted on the inside of any windows or withi n the interior of the Premises, if visible from the exterior of the Premises. Signs on any entrance door or doors shall conform to Project standards and shall, at Tenant’s expense, be inscribed, painted, or affixed for Tenant by sign makers approved by Landlord. 4. The sashes, sash doors, skylights, windows, heating, ventilating, and air conditioning vents and doors that reflect or admit light and air into the halls, passageways, or other public places in the Project shall not be covered or obstructed by the Tenant Parties. No bottles, parcels, or other articles be placed outside of the Premises. 5. No show cases or other articles shall be put in front of or affixed to any part of the exterior of the Project, nor placed in the public halls, corridors, or vestibules. 6. The water and wash closets and other plumbing fixtures shall not be used for any purpose other than those for which they were constructed, and no sweepings, rubbish, rags, or other substances shall be thrown in them. All damages resulting fr om any misuse of fixtures shall be borne by the Tenant who, or whose employees, agents, or invitees, shall have caused the damages. 7. No animals of any kind (except animals assisting disabled persons) shall be brought on the Premises or Project. 8. The Premises shall not be used for cooking, except that use by equipment for brewing coffee, tea, hot chocolate, and similar beverages and a microwave oven for food warming shall be permitted, provided that such equipment and use is in accordance with all applicable governmental requirements. Except for standard residential type refrigerator and microwave oven, no refrigeration or heating equipment may be placed inside the Premises without the prior written consent of Landlord in each in stance. Tenant shall not cause or permit any unusual or objectionable odors to be produced on or permeate from the Premises. 9. No portion of the Building or the Project shall be used for the distribution or for the sale at auction or otherwise of merchandise, goods, or property of any kind. 10. Tenant shall not make or permit to be made any unseemly or disturbing noises, radio f requency or electromagnetic or radio interference, or vibrations, or disturb or interfere with occupants of the Project or neighboring premises or those having business with them, or interfere with equipment of Landlord or occupants of the Project, whether by the use of any musical instrument, radio, television, machines or equipment, unmusical noise, or in any other way, including use of any wireless device or equip ment. Tenant shall not throw anything out of the doors or windows or down the corridors, sta irwells, or elevator shafts of the Project. 11. The Tenant Parties and their invitees shall not at any time bring or keep on the Premises any firearms, inflammable, combustible, or explosive substance or any chemical substance, other than reasonable amounts of cleaning fluids and solvents required in the normal operation of Tenant’s business, all of which shall only be used in strict compliance with all applicable laws. 12. Landlord shall, at Tenant’s expense, have a valid pass key to all spaces within the Premise s at all times during the Lease Term. No additional locks or bolts of any kind shall be placed on any of the doors or windows by Tenant, nor shall any changes be made in existing locks or the mechanism of the locks, without the prior written consent of the Landlord and unless and until a duplicate key is delivered to Landlord. Tenant must, on the termination of its tenancy, restore to the Landlord all keys to stores, offices, and toilet rooms, either furnished to or otherwise procured by Tenant, and in the event of the loss of any keys so furnished, Tenant shall pay Landlord for the replacement cost of them. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 431 Page 17 of 19 13. All deliveries, removals, or the carrying in or out of any safes, freights, furniture, or bulky matter of any description may be accomplished only with the prior approval of Landlord and then only in approved areas, through the approved loading/service area doors, using the freight elevator only, during approved hours, and otherwise in accordance with Landlord’s requirements. Tenant shall assume all liability and risk concerning these movements. All hand trucks must be equipped with rubber tires and side guards. Landlord may restrict the location where heavy or bulky matters may be placed inside the Premises. Landlord reserves the righ t to inspect all freight to be brought into the Project and to exclude all freight that can or may violate any of these Rules and Regulations or other provisions of this Lease. 14. Tenant shall not, unless otherwise approved by Landlord in its sole and absolute discretion, occupy or permit any portion of the Premises demised to it to be occupied as, by, or for a public stenographer or typist, barber shop, bootblackin g, beauty shop or manicuring, beauty parlor, telephone agency, telephone or secretarial service, messenger ser vice, travel or tourist agency, a personnel or employment agency, restaurant or bar, commercial document reproduction or offset printing service, ATM or simila r machines, retail, wholesale, or discount shop for sale of merchandise or food, retail service s hop, labor union, school, classroom, or training facility, an entertainment, sports, or recreation facility, dance or music studio, an office or facility of a foreig n consulate or any other form of governmental or quasi -governmental bureau, department, or agency, including an autonomous governmental corporation, a place of public assembly (including a meeting center, theater, or public forum), a facility for the provision of social welfare or clinical health services, a medical or health care office of any kind, a telemarketing facility, a customer service call center, a firm the principal business of which is real estate brokerage, a company engaged in the business of renting office or desk space, a public finance (personal loan) business, or manufacturing, or any other use that would, in Landlord’s reasonable opinion, impair the reputation or quality of the Building, overburden any of the Building systems, Common Areas, or Parking Areas (including any use that would create a population density in the Premises which is in excess of the density which is standard for the Building), impair Landlord’s efforts to lease space or otherwise interfere with the operation of the Project, unless Tenant’s Lease expressly g rants permission to do so. Tenant shall not operate or permit to be operated on the Premises any coin or token operated vending machine or similar device (including telephones, lockers, toilets, scales, amusement devices, and machines for sale of beverages, foods, candy, cigarettes, or other goods), except for those vending machines or similar devices that are for the sole and exclusive use of Tenant’s employees, and then only if operation of the machines or devices does not violate the lease of any other tenant of the Projec t. . 15. Tenant shall not create or use any advertising mentioning or exhibiting any likeness of the Project without the prior written consent of Landlord. Landlord shall have the right to prohibit any advertising that, in Landlord’s reasonable opinion , tends to impair the reputation of the Project or its desirability as a building, and on notice from Landlord, Tenant shall discontinue the advertising. 16. Landlord reserves the right to exclude from the Project all persons who do not present a pass to the Project on a form or card approved by Landlord or other identification documentation required by Landlord. Tenant shall be responsible for all its Parties who have been issued a pass at the request of Tenant and shall be liable to Landlord for all acts of those persons. 17. The Premises shall not be used for lodging or sleeping, or for any immoral, disreputable, or illegal purposes, or for any purpose that may be dangerous to life, limb, or property. 18. Any maintenance requirements of Tenant will be attended to by Landlord only on application at the Landlord’s management office for the Project. Landlord’s employees shall not perform any work or do anything outside of their regular du ties, unless under specific instructions from the office of Landlord. 19. Canvassing, soliciting, and peddling within the Project is prohibited and Tenant shall cooperate to prevent such activities. 20. In order to obtain maximum effectiveness of the cooling system, Tenant shall lower and/or close Venetian or vertical blinds, shades or drapes when the sun’s rays fall directly on the exterior windows of the Premises. 21. If, in Landlord’s reasonable opinion, the replacement of ceiling tiles becomes necessary after they have been removed on behalf of Tenant by telecommunications company installers or others (in both the Premises and the public corridors ), the cost of replacements shall be charged to Tenant on a per -tile basis. 22. All paneling or other wood products not considered furniture that Tenant shall install in the Premises shall be of fire retardant materials. Before the installation of these materials, Tenant shall submit to Landlord a satisfactory (in the reaso nable opinion of Landlord) certification of the materials’ fire retardant characteristics. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 432 Page 18 of 19 23. The Tenant Parties and their invitees shall not be permitted to occupy at any one time more than the number of parking spaces in the Parking Areas permitted in the Lease (including any parking spaces reserved exclusively for Tenant). Usage of parking spaces shall be in common with all other tenants of the Project and their employees, agents, contractors, and invitee s. All parking space usage shall be subject to any reasonable rules and regulations for the sale and proper use of parking spaces that Landlord may prescribe. The Tenant Parties and their invitees shall abide by all posted roadway signs in and about the parking facilit ies. Landlord shall have the right to tow or otherwise remove vehicles of the Tenant Parties and their invitees that are improperly parked, blocking ingress or egress lanes, or violating parking rules, at the expense of Tenant or the owner of the vehicle, or both, and without liability to Landlord. Upon request by Landlord, Tenant shall furnish Landlord with the license numbers and descriptions of any vehicles of the Tenant Parties. Tenant acknowledges that reserved parking spaces, if any, shall only be reserved during the h ours of 8:00 a.m. to 5:00 p.m., Monday through Friday, Legal Holidays excluded. Parking spaces may be used for the parking of passenger vehicles only and shall not be used for parking commercial vehicles or trucks (except sports utility vehicles, mini -vans, and pick-up trucks utilized as personal transportation), boats, personal watercraft, or trailers. No parking space may be used for the storage of equipment or other personal property. Overnight parking in the Parking Areas is prohibited. Landlord, in Landlord’s sole and absolute discretion, may establish from time to time a parking decal or pass card system, security check -in, or other reasonable mechanism to restrict parking in the Parking Areas. Landlord reserves the right to charge Tenant an administrative fee of $50.00 per vio lation of the foregoing rules. 24. All trucks and delivery vans shall be parked in designated areas only and not parked in spaces reserved for cars. All delivery service doors are to remain closed except during the time that deliveries, garbage removal, or ot her approved uses are taking place. All loading and unloading of goods shall be done only at the times, in the areas, and through the entrances designated for loading purposes by Landlord. 25. All garbage and trash must be removed by Tenant on a daily basis, and placed in the dumpsters supplied by Landlord in an area designated by the Landlord for that purpose. No material shall be placed in the trash or refuse receptacles in vio lation of any law or ordinance governing such disposal. Landlord will not be resp onsible for accepting unusual amounts of rubbish not associated with normal daily requirements. All boxes, etc. shall be “broken down” by Tenant prior to discarding. All garbage and refuse disposal shall be made in accordance with directions issued from ti me to time by Landlord. If the Premises becomes infested with vermin as a result of the use or misuse or neglect of any Tenant, its agents, employees, contractors, or visitors, Tenan t shall, at its expense cause the Premises to be exterminated to the satisfaction of Landlord and shall employ such licensed exterminators as shall be approved in writing in advance by Landlord. 26. Landlord shall not be responsible for lost or stolen personal property, equipment, or money occurring anywhere on the Project, regardless of how or when the loss occurs. 27. Tenant shall not conduct any business, loading or unloading, assembling, or any other work connected with Tenant’s business in any public areas. 28. Tenant shall give Landlord prompt notice of all accidents to or defects in air conditioning equipment, plumbing, and electric facilities, or any part or appurtenance of the Premises. 29. Tenant agrees and fully understands that the overall aesthetic appearance of the Project is of paramount importance; thus Landlord shall maintain complete aesthetic control over any and every portion of the Premises visible from outside the Premises including all fixtures, equipment, signs, exterior lighting, plumbing fixtures, shades, awnings, merchandise, displays, art work, wall coverings, or any other object used in Tenant’s business. Landlord’s control over the visual aesthetics shall be complete and arbitr ary. Landlord will notify Tenant in writing of any aesthetic deficiencies and Tenant will have seven days to correct the deficiencies to Landlord’s satisfaction or Tenant shall be in default of this Lease and the Default article shall apply. 30. Tenant shall not install, operate, or maintain in the Premises or in any other area, any electrical equipment that does not bear the U/L (Underwriters Laboratories) seal of approval, or that would overload the electrical system or any part of the system beyond its capacity for proper, efficient, and safe operation as determined by Landlord , taking into consideration the overall electrical system and the present and future requirements therefor in the Project. Tenant shall not furnish any cooling or heating to the Premi ses, including the use of any electronic or gas heating devices. 31. Smoking is only be permitted in such areas as Landlord may from t ime to time designate. Landlord shall have the right, but not the obligation, to designate an area or areas as "Designated Smoking Areas." Landlord shall have the right to change Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 433 Page 19 of 19 such Designated Smoking Areas and to enact future rules and regulations conce rning smoking in such Designated Smoking Areas, including the right in Landlord's discretion, to prohibit smoking in the Designated Smoking Areas or the right to refuse to d esignate Designated Smoking Areas. Tenant agrees to comply in all respects with Lan dlord's prohibition and regulation of smoking and to enforce compliance against its employees, agents, invitees and other persons under the control and supervision of Tenant. “Smoking" means inhaling, exhaling, burning, or carrying any lighted cigar, cigar ette, pipe, or other smoking or nicotine delivery system or equipment or device in any manner or form, whether electronic or otherwise. 32. Tenant shall not allow the Premises to be occupied by more than five (5) persons per 1,000 square feet of rentable area. 33. Tenant will take all steps necessary to prevent: inadequate ventilation, emission of chemical contaminants from indoor or outdoor sources, or both, or emission of biological contaminants. Tenant will not allow any unsafe levels of chemic al or biological contaminants (including volatile organic compounds [“VOCs”]) in the Premises, and will take all steps necessary to prevent the release of contaminants from adhesives (for example, upholstery, wallpaper, carpet, machinery, supplies, and cleaning age nts) and excess VOC levels. 34. Tenant shall comply with any recycling programs for the Project implemented by Landlord from time to time. 35. Tenant shall not place a load on any floor of the Premises exceeding the floor load per square foot area that such floor was designed to carry. Landlord reserves the right to prescribe the weight limitations and position of all heavy equipment and similar items, and to prescribe the reinforcing necessary, if any, that in the opinion of Landlord may be required under the circumstances, such reinforcing to be at Tenant’s expense. 36. All contractors performing work to the structure or systems of the Project must be approved by Landlord. 37. Tenant shall comply with all rules and regulations imposed by Landlord as to any messenger cent er Landlord may establish for the Project and as to the delivery of letters, packages, and other items to the Premises by messengers. 38. Landlord reserves the right to grant or deny access to the Project to any telecommunications service provider that is not currently serving the Project. Access to the Building by any telecommunications service provider (unless through Landlord’s current Building telecommunications provider’s lines) shall be governed by the terms of Landlord’s standard telecommunication s license agreement and access fees, which must be executed and delivered to Landlord by such provider before it is allowed any access whatsoever to the Project. 39. No vinyl wall covering may be installed on any interior side of any wall which comprises an exterior wall of the Building, unless the wall covering was manufactured using a micro-venting procedure having no less than 140 needle/venting holes per square inch, and Tenant shall provide a letter from the wall covering manufacturer confirming such process. 40. Landlord may, on request by any tenant, waive compliance by the tenant with any of the Rules and Regulations provided that (a) no waiver shall be effective unless in writing and signed by Landlord or Landlord’s authorized agent, (b) a waiver shall not relieve the tenant from the obligation to comply with the rule or regulation in the future unless expressly consented to b y Landlord, and (c) no waiver granted to any tenant shall relieve any other tenant from the obligation of complying with the Ru les and Regulations unless the other tenant has received a similar waiver in writing from Landlord. 41. Whenever these Rules and Regulations directly conflict with any of the rights or obligations of Tenant under this Lease, this Lease shall govern. Doc ID: 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 434 New Lease Agreement - 217 NE 3rd St - 312 E Boynton Beach... eyJ0eXAiOiJKV1QiL...kiLCJleHAiOjE.doc 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 MM / DD / YYYY Signed This document was requested from e954d8ae.app.doorloop.com 03 / 31 / 2025 14:47:57 UTC Sent for signature to venasky alterations | Joseph Menardy (venaskyllc@gmail.com) and Ian Silverman (magister928@gmail.com) from 217ne3rdstllc@gmail.com IP: 54.158.118.24 03 / 31 / 2025 18:29:30 UTC Viewed by venasky alterations | Joseph Menardy (venaskyllc@gmail.com) IP: 140.248.44.203 03 / 31 / 2025 18:37:33 UTC Signed by venasky alterations | Joseph Menardy (venaskyllc@gmail.com) IP: 140.248.44.202 03 / 31 / 2025 20:54:26 UTC Viewed by Ian Silverman (magister928@gmail.com) IP: 73.138.17.209 435 03 / 31 / 2025 20:55:26 UTC Signed by Ian Silverman (magister928@gmail.com) IP: 73.138.17.209 The document has been completed.03 / 31 / 2025 20:55:26 UTC New Lease Agreement - 217 NE 3rd St - 312 E Boynton Beach... eyJ0eXAiOiJKV1QiL...kiLCJleHAiOjE.doc 8f27ad1e54a86fd29c53e2194e1c65f0ec3309d1 MM / DD / YYYY Signed This document was requested from e954d8ae.app.doorloop.com 436 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 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. 437 The CRAB Board continued the discussion of ways that are above and beyond the normal City 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 I-95 exit corridors. The Board came to the June 5, 2025, meeting with 3-5 additional suggestions on ways to beautify the area within the CRA District above what the City requires. The Board also continued the splash pad conversation by providing examples and costs. At the August 7, 2025 meeting, the Board continued working on their recommendations for the ways to beautify the area within the CRA District above what the City requires. The Board also preliminarily discussed ways to honor the two (2) Heisman Trophy winners. The CRAB Board also reviewed the proposed budget and recommended leaving the grocery store as a separate line item, similar to the parking garage, continuing to prioritize objectives of the CRA. The CRAB Board also recommended the hiring of micro-influencers to reach more people, using possible campaigns of "Spend a Day with Me." The Board will discuss street naming ideas and additional ways to honor the two (2) Heisman Trophy winners at their September 17, 2025 meeting. The CRAB Board made the decision to change their regularly scheduled meeting date to the third Wednesday of the month instead of the first Thursday of the month to better coincide with agenda preparation for the CRA Board meetings for reporting purposes. 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. 438 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.A SUBJECT: Continued Discussion and Consideration of the Purchase of 670 Oak Street - REVISED 09/08/2025 SUMMARY: On August 12, 2025, the CRA Board was presented with the option to purchase the property located at 670 Oak Street (see Attachment I). The property is located to the south of Harvey E. Oyer Jr. Park and within the Federal Highway Corridor District of the CRA (see Attachment II). The property provides the City with an opportunity to expand the Harvey E. Oyer Jr. Park and to provide expanded public access to the Intracoastal waterway and the Ocean. The City prepared a conceptual site plan for potential expansion of Harvey E. Oyer Jr. Park (see Attachment III). As part of the CRA's procurement an appraisal was ordered and received on June 13, 2025 (see Attachment IV). The entire property appraised at $6,606,000. A comparison of similar purchases by the CRA has been provided (see Attachment V). The CRA Board requested staff to negotiate the terms of the purchase, which were originally presented to the CRA under Option 1 below: Option 1 Entire parcel – Approximately 1.27 Acres • Purchase Price: $7,000,000 • Deposit: $300,000 • Due Diligence: 60 days from effective date of Purchase and Sale Agreement • Closing Period: Within 90 days from effective date of Purchase and Sale Agreement • Property to be delivered unoccupied A second option was also explored. Option 2 Northern portion of the parcel – Approximately 0.75 Acres • Purchase Price: $4,500,000 439 • Deposit: $225,000 • Due Diligence: 60 days from effective date of Purchase and Sale Agreement • Closing Period: Within 120 days from effective date of Purchase and Sale Agreement (or as reasonably extended to allow for subdivision process to be completed) • Property to be delivered vacant Use restriction for both purchase options: REC zoning Restrictive covenant to match the current Harvey Oyer Park restrictive covenant but allow for (1) restaurant up to two stories in height No structured parking No dry stack marine storage CRA and City staff have negotiated the following terms for the purchase of the property: Purchase Price of $6.8M with closing costs not to exceed $7.1M Primary Deposit of $300,000, within five business days of contract, refundable prior to expiration of the Feasibility Period. Secondary Deposit of $5,000, due end of Inspection Period, non-refundable unless specified exception; deposit amounts will serve as a creditor toward purchase price. Feasibility Period 60 days from effective date of Purchase and Sale Agreement Closing Date 120 to close from effective date of Purchase and Sale Agreement Property to be delivered unoccupied Restrictive covenants to include Height Restrictions (36’ or two stories), parking and the City's retention of residential development rights On August 29, 2025, City and CRA staff met to discuss the acquisition of the property. Given the City’s planning efforts and anticipated eventual ownership of the park, CRA and City staff and legal recommend that the CRA and City enter into an interlocal agreement and partnership where the City takes title to the property, allowing it to negotiate as appropriate for long-term ownership, and the CRA contribute funding for the acquisition, which is consistent with CRA goals. Representatives from the CRA and City staff met with a representative of the seller regarding this proposal, who represented that the seller is open to the concept. To effectuate the partnership, a proposed interlocal agreement is presented for the CRA Board’s consideration (see Attachment VI), along with a term sheet outlining the currently proposed terms and outstanding items under negotiation (see Attachment VII). FISCAL IMPACT: Fiscal Year 2025-2026, Project Fund 02-58200-401 Property Purchases CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan - Federal Highway District CRA BOARD OPTIONS: To be determined by the Board. ATTACHMENTS: Description 440 •Attachment I - 08-12-2025 CRA Board Meeting Minutes •Attachment II - Aerial Photo •Attachment III - Harvey Oyer Boat Ramp Park Proposed Expansion •Attachment IV - Appraisal •Attachment V - 670 Oak Street Comparables •Attachment VI - ILA - REVISED 09/08/2025 •Attachment VII - Term Sheet 441 442 443 444 Parking 445 A P P R A I S A L R E P O R T MULTI-FAMILY RESIDENTIAL ZONED LAND 670 OAK STREET BOYNTON BEACH, FLORIDA 33435 Entire Property & North 87 feet by Vance Real Estate Service 7481 Northwest Fourth Street Plantation, Florida 33317-2204 for Boynton Beach Community Redevelopment Agency 100 E. Ocean Avenue Boynton Beach, FL 33435 June 13, 2025 446 MBA in REAL ESTATE DEVELOPMENT & MANAGEMENT 7481 Northwest 4th Street, Plantation, FL 33317-2204 954/583-2116 vanceval@att.net June 13, 2025 Boynton Beach Community Redevelopment Agency 100 East Ocean Avenue Boynton Beach, FL 33435 RE: Multi-family zoned vacant land, 670 Oak Street, Boynton Beach, FL 33435 (Legal description is in the report.) Ladies and Gentlemen: In fulfillment of our agreement, we transmit our Appraisal Report, in which we develop opinions of market value for the fee simple estate in the referenced real property as of June 13, 2025. The report sets forth our value conclusions, along with data and reasoning supporting our value opinions. This report was prepared for and our professional fee billed to the client and intended user, Boynton Beach Community Redevelopment Agency. Our analyses have been prepared in conformance with the Uniform Standards of Professional Appraisal Practice. This report is for exclusive use of the client and intended user for possible acquisition of the appraised property. Jesse B. Vance, Jr. and Claudia Vance visited the property. If you have questions or further needs, please contact the undersigned. As a result of our analyses, we have developed the following opinions of market value of the appraised property, subject to definitions, certifications, and limiting conditions set forth in the attached report. ENTIRE APPRAISED PROPERTY (1.27 acres): $6,606,000 NORTH 87 FEET OF THE PROPERTY (0.75 acres): $3,515,000 (THIS LETTER MUST REMAIN ATTACHED TO THE REPORT WITH NINETY-FOUR (94) NUMBERED PAGES FOR THE VALUE OPINION SET FORTH TO BE CONSIDERED VALID.) Respectfully submitted, Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser RZ-85 Claudia Vance, MAI State-Certified General Real Estate Appraiser RZ-173 447 TABLE OF CONTENTS Page Number Title Page i Letter of Transmittal ii Table of Contents iii INTRODUCTION 4 Photographs of the Subject Property 5 1-3-5 Mile Location Map 14 1-3-5 Mile Demographic Statistics 15 Zoning and Land Use Maps 17 Summary of Important Facts and Conclusions 19 Preface to Valuation 20 DESCRIPTIONS, ANALYSES, & CONCLUSIONS 21 Identity of Client and Intended User 22 Intended Use 22 Identification of Real Estate Appraised 22 Ownership 22 Property Address 22 Legal Description 22 Real Estate Tax Analysis 23 Market Area Description 24 Zoning 30 Site Description 32 Real Property Interest Appraised 33 Appraisal Purpose and Definition of Market Value 34 Effective Dates of the Appraisal and Report 35 Scope of the Work 35 Summary of Information Considered 36 Property History 36 Highest and Best Use 37 SALES COMPARISON APPROACH 41 Location Maps of Land Sales 42 Land Sales and photos 44 Land Sales Comparison & Adjustment Chart 62 Valuation by the Sales Comparison Approach 63 RECONCILIATION AND FINAL VALUE OPINION 68 Certification and Limiting Conditions 69 ADDENDA 71 Deed for appraised property 72 Sketches of survey for the appraised property 75 Bathymetric Survey 77 National Wetland Inventory Map 79 Building sketch of old house 80 “R-3” zoning ordinance 81 Parks information 83 USPAP Standards Rule 2-2a 86 Qualifications of the Appraisers 90 448 INTRODUCTION 4 449 DEPRECIATED HOUSE & GARAGE 2 CAR GARAGE 5 450 SHED EAST ELEVATION OF HOUSE 6 451 LOOKING EAST AT LAKE WORTH LOOKING EAST AT BEACH AREA 7 452 LOOKING EAST AT CONCRETE PATIO CLOSER VIEW OF LAKE WORTH 8 453 MULTI-FAMILY BUILDING TO SOUTH OF SUBJECT LOOKING SOUTH AT SUBJECT SEAWALL 9 454 LOOKING NE @ NE CORNER OF SUBJECT PROPERTY LOOKING WEST AT SOUTH 60 FOOT STRIP OF SUBJECT 10 455 SCREENED POOL LOOKING NW TOWARD ADJACENT PARK 11 456 HARVEY E. OYER, JR. PARK APPRAISED PROPERTY LAKE WORTH 12 457 CLOSER AERIAL VIEW OF THE APPRAISED PROPERTY 670 OAK STREET, BOYNTON BEACH, FL 13 458 14 459 Executive Summary 670 Oak St, Boynton Beach, Florida, 33435 4 Prepared by Esri 670 Oak St, Boynton Beach, Florida, 33435 Latitude: 26.54533 Rings: 1, 3, 5 mile radii Longitude: -80.05366 1 mile 3 miles 5 miles Population 2010 Population 11,515 71,339 165,110 2020 Population 13,173 82,315 188,209 2024 Population 13,403 85,087 193,893 2029 Population 14,247 87,685 198,148 2010-2020 Annual Rate 1.35%1.44%1.32% 2020-2024 Annual Rate 0.41%0.78%0.70% 2024-2029 Annual Rate 1.23%0.60%0.44% 2020 Male Population 47.4%47.9%48.2% 2020 Female Population 52.6%52.1%51.8% 2020 Median Age 44.5 43.0 43.4 2024 Male Population 48.0%48.5%48.7% 2024 Female Population 52.0%51.5%51.3% 2024 Median Age 44.7 43.3 43.8 In the identified area, the current year population is 193,893. In 2020, the Census count in the area was 188,209. The rate of change since 2020 was 0.70% annually. The five-year projection for the population in the area is 198,148 representing a change of 0.44% annually from 2024 to 2029. Currently, the population is 48.7% male and 51.3% female. Median Age The median age in this area is 43.8, compared to U.S. median age of 39.3. Race and Ethnicity 2024 White Alone 35.1%49.2%50.7% 2024 Black Alone 49.2%29.8%24.6% 2024 American Indian/Alaska Native Alone 0.5%0.5%1.2% 2024 Asian Alone 1.0%2.2%2.5% 2024 Pacific Islander Alone 0.0%0.0%0.0% 2024 Other Race 5.5%6.7%8.4% 2024 Two or More Races 8.7%11.6%12.5% 2024 Hispanic Origin (Any Race)14.8%19.6%23.8% Persons of Hispanic origin represent 23.8% of the population in the identified area compared to 19.6% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 78.3 in the identified area, compared to 72.5 for the U.S. as a whole. Households 2024 Wealth Index 69 81 98 2010 Households 4,495 30,161 69,212 2020 Households 5,174 34,712 77,664 2024 Households 5,338 36,379 80,814 2029 Households 5,798 37,977 83,339 2010-2020 Annual Rate 1.42%1.42%1.16% 2020-2024 Annual Rate 0.74%1.11%0.94% 2024-2029 Annual Rate 1.67%0.86%0.62% 2024 Average Household Size 2.47 2.30 2.36 The household count in this area has changed from 77,664 in 2020 to 80,814 in the current year, a change of 0.94% annually. The five-year projection of households is 83,339, a change of 0.62% annually from the current year total. Average household size is currently 2.36, compared to 2.38 in the year 2020. The number of families in the current year is 46,226 in the specified area. Data Note: Income is expressed in current dollars. Housing Affordability Index and Percent of Income for Mortgage calculations are only available for areas with 50 or more owner-occupied housing units. The Gini index measures the extent to which the distribution of income or consumption among individuals or households within an economy deviates from a perfectly equal distribution. A Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality. Source: U.S. Census Bureau. Esri forecasts for 2024 and 2029. Esri converted Census 2010 into 2020 geography and Census 2020 data. June 09, 2025 ©2025 Esri Page 1 of 2 15 460 Executive Summary 670 Oak St, Boynton Beach, Florida, 33435 4 Prepared by Esri 670 Oak St, Boynton Beach, Florida, 33435 Latitude: 26.54533 Rings: 1, 3, 5 mile radii Longitude: -80.05366 1 mile 3 miles 5 miles Mortgage Income 2024 Percent of Income for Mortgage 40.7%33.3%34.5% Median Household Income 2024 Median Household Income $55,135 $67,785 $72,518 2029 Median Household Income $68,215 $80,565 $84,820 2024-2029 Annual Rate 4.35%3.51%3.18% Average Household Income 2024 Average Household Income $81,555 $94,576 $103,828 2029 Average Household Income $99,928 $113,408 $123,521 2024-2029 Annual Rate 4.15%3.70%3.53% Per Capita Income 2024 Per Capita Income $33,521 $40,544 $43,345 2029 Per Capita Income $42,211 $49,230 $52,029 2024-2029 Annual Rate 4.72%3.96%3.72% GINI Index 2024 Gini Index 42.2 39.8 39.8 Households by Income Current median household income is $72,518 in the area, compared to $79,068 for all U.S. households. Median household income is projected to be $84,820 in five years, compared to $91,442 all U.S. households. Current average household income is $103,828 in this area, compared to $113,185 for all U.S. households. Average household income is projected to be $123,521 in five years, compared to $130,581 for all U.S. households. Current per capita income is $43,345 in the area, compared to the U.S. per capita income of $43,829. The per capita income is projected to be $52,029 in five years, compared to $51,203 for all U.S. households. Housing 2024 Housing Affordability Index 60 74 71 2010 Total Housing Units 6,085 38,586 87,358 2010 Owner Occupied Housing Units 2,841 19,224 45,951 2010 Renter Occupied Housing Units 1,654 10,937 23,261 2010 Vacant Housing Units 1,590 8,425 18,146 2020 Total Housing Units 6,506 41,434 93,074 2020 Owner Occupied Housing Units 2,874 19,834 47,845 2020 Renter Occupied Housing Units 2,300 14,878 29,819 2020 Vacant Housing Units 1,341 6,706 15,379 2024 Total Housing Units 6,606 42,871 95,418 2024 Owner Occupied Housing Units 3,056 20,619 49,614 2024 Renter Occupied Housing Units 2,282 15,760 31,200 2024 Vacant Housing Units 1,268 6,492 14,604 2029 Total Housing Units 7,004 44,448 97,868 2029 Owner Occupied Housing Units 3,321 21,855 52,316 2029 Renter Occupied Housing Units 2,477 16,121 31,023 2029 Vacant Housing Units 1,206 6,471 14,529 Socioeconomic Status Index 2024 Socioeconomic Status Index 41.6 45.0 45.3 Currently, 52.0% of the 95,418 housing units in the area are owner occupied; 32.7%, renter occupied; and 15.3% are vacant. Currently, in the U.S., 57.9% of the housing units in the area are owner occupied; 32.1% are renter occupied; and 10.0% are vacant. In 2020, there were 93,074 housing units in the area and 16.5% vacant housing units. The annual rate of change in housing units since 2020 is 0.59%. Median home value in the area is $399,142, compared to a median home value of $355,577 for the U.S. In five years, median value is projected to change by 4.50% annually to $497,389. Data Note: Income is expressed in current dollars. Housing Affordability Index and Percent of Income for Mortgage calculations are only available for areas with 50 or more owner-occupied housing units. The Gini index measures the extent to which the distribution of income or consumption among individuals or households within an economy deviates from a perfectly equal distribution. A Gini index of 0 represents perfect equality, while an index of 100 implies perfect inequality. Source: U.S. Census Bureau. Esri forecasts for 2024 and 2029. Esri converted Census 2010 into 2020 geography and Census 2020 data. June 09, 2025 ©2025 Esri Page 2 of 2 16 461 ZONING MAP APPRAISED PROPERTY LAND USE MAP APPRAISED PROPERTY 17 462 LAND USE MAP APPRAISED PROPERTY CRA RECOMMENDED LAND USE MAP APPRAISED PROPERTY 18 463 SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS PROPERTY APPRAISED: Vacant land 670 Oak Street Boynton Beach, FL 33435 OWNERSHIP: Deborah Canepa & Scott E. Picardy 641 Oak Street Boynton Beach, FL 33435 LAND AREA: Entire site is 55,046 square feet or 1.27acres North 87 ft of site contains 32,546 sq.ft. or 0.75 acres. South 60 feet of site contains 22,500 square feet. BUILDING IMPROVEMENTS: Depreciated improvements on the property do not contribute to its market value. ZONING: “R-3”, Multi-family Residential District in the city of Boynton Beach, FL LAND USE: “MEDR”, Medium Density Residential, 11 dwelling units per acre CRA DISTRICT: Federal Highway North. Recommended future land use: Medium Density Residential, 11 units per acre APPRAISAL PURPOSE: To develop opinions of market value INTEREST APPRAISED: Fee simple and all riparian rights CURRENT USE: Vacant HIGHEST AND BEST USE: Entire site: 13 dwelling units North 87 feet: 8 dwelling units VALUES BY THE SALES COMPARISON APPROACH: ENTIRE APPRAISED PROPERTY (1.27 acres): $6,606,000 NORTH 87 FEET OF THE PROPERTY (0.75 acres): $3,515,000 VALUATION DATE: June 13, 2025 Exposure Time: 12 months prior to selling at the appraised value. Marketing Time: 12 months immediately following the effective date of appraisal during which time the subject property should sell at the appraised value. 19 464 PREFACE TO VALUATION The appraised property is located at 670 Oak Street, Boynton Beach, FL 33435, east of Federal Highway. The east border of the property is on Lake Worth, as can be noted in the photos and exhibits in the report. At the east end of the parcel is a depreciated single family residence that was constructed in 1958. The house is uninhabitable. The house, garage, shed, et cetera have no contributory value to property; hence, the property is valued as vacant. A buyer of the property would demolish and remove the improvements as part of the redevelopment of the tract. The subject parcel is part of an old plat which has been modified since first recorded. The sketch of survey cites the legal description and dimensions. The original dimensions of the tract were 400 feet east-west and 146.79 feet north-south. A 25 foot north-south strip of land was reserved to be Palm Way. The strip was not paved as a street; rather, the west 25 feet of the site became New Palm Way and deducted from the land size of the subject property. Currently, dimensions of the site are 375 feet by 146.79 feet = 55,046 square feet or 1.27 acres. Also noted on the sketch of survey is that the east 40 feet (on average) of the site are sand sloping into Lake Worth. There is an older seawall protecting the dryland from the lake. Zoning is “R-3”, Multi-family residential, 11 dwelling units per acre. Land Use is “MEDR”, Medium Density Residential, 11 units per acre. There are no immediate plans to increase the density. Prior use of the property as a single family residence is a permitted use in this district. The property owner intends to sell all or part of the subject property. The intended use of this appraisal is to develop opinions of value for all and part of the site to assist the Boynton Beach Community Redevelopment Agency (BB CRA) in determining if it will purchase all or part of the land concerned. The part of the property under consideration is the north 87 feet or 0.75 of an acre of the site. The property owner may retain the south 60 feet or 0.52 of an acre for a future single family residence. Adjacent to the north of the subject property is Harvey E. Oyer, Jr. Park used primarily for boating and fishing activities. Size of the park is approximately nine acres with submerged land leased from the State of Florida for docks in Lake Worth. The BB CRA is considering purchasing all or part of the appraised property for expansion of the park. The next sections of the appraisal detail information about the land in question, the market area and possible uses of the property. The Highest and Best Use section summarizes the findings and states the conclusion for the property. Further, a list of property strengths and weaknesses is included. 20 465 DESCRIPTIONS, ANALYSES, CONCLUSIONS 21 466 APPRAISAL REPORT This is an APPRAISAL REPORT that complies with Standard Rule 2-2(a) of the Uniform Standards of Professional Appraisal Practice 2-2(a)(i) State the identity of the client; The client and intended user of this report is the Boynton Beach Community Redevelopment Agency. 2-2(a)(ii) State the identity of any other intended users by name or type; None 2-2(a)(iii) State the intended use of the appraisal; The intended use of the appraisal is for possible acquisition of all or part the appraised property for expansion of the Harvey E. Oyer, Jr. Park adjacent to the north. 2-2(a)(iv) Contain information, documentation, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal and economic property characteristics relevant to the assignment; Owner: Deborah Canepa & Scott E. Picardy 641 Oak Street Boynton Beach, FL 33435 Property Address: 670 Oak Street Boynton Beach, FL 33435 Legal Description: Lengthy description – see complete description on subject deed in Addenda and on sketch of survey Census Tract No. 61 22 467 APPRAISAL REPORT (continued) Real Estate Tax: Parcel Control Number: 08 43 45 15 06 002 0620 Entire appraised property Land Value: $2,227,806 Improvement Value: 73,097 Total Value in 2024: $2,300,903 Assessed Value in 2024: $2,300,903 Exemption Amount: - 0 - Taxable Value: $2,300,903 Ad Valorem Tax: $ 46,155 Non Ad Valorem Tax: 484 Total Tax: $ 46,639 Total Value 2023 $2,221,117 Assessed Value in 2023: $ 674,814 Exemption Amount: 50,000 Taxable Value: $ 624,814 Ad Valorem Tax: $ 12,815 Non Ad Valorem Tax: 428 Total Tax: $ 13,243 Real estate tax for 2024 is paid. There are no outstanding taxes for previous years. The change in property ownership in 2023 caused the exemptions to be removed and a new assessed value for the property. Hence, real estate tax jumped from $13,243 in 2023 to $46,639 in 2024 because the homestead exemption was lost. Going forward, the real estate tax can increase 10% per year as explained below. Properties are assessed in arrears by the county property appraiser. The tax bill is issued in November and a 4% discount is given to a tax payer if the amount is paid in November. The discount diminishes until March, when the tax is due and payable. 23 468 APPRAISAL REPORT In Florida, the taxable (assessed) value for non- homesteaded properties can be increased to a maximum of 10% per year, from tax year 2009 going forward, based on a constitutional amendment voted on by the electorate of the state. There are some exceptions which relate to school taxing districts. However, the millage of the city can increase; thus, real estate taxes can continue to increase from year to year. The 10% per year increase cap can account for the difference between the Total Value of a property and the Assessed Value. Flood Zone: The appraised property is the Coastal Flood Plan, Zone “VE”, according to FEMA Map No. 12099C0791G. Zone “VE” is in a Special Flood Hazard Area. Market Area Description: Boundaries and Market Composition & Transportation Infrastructure The general market area is the City of Boynton Beach in eastern -central Palm Beach County. Population of the city is about 79,000 residents; land area of the municipality is about 16 square miles situated between Delray Beach on the south and Lake Worth on the north. The town was named for an early developer, Nathan Boynton, a former major in the Union Army in the Civil War. The city was founded in 1898 and incorporated in 1920. Most of the original buildings were destroyed in the hurricane of 1926, though a few remain. Those few which were constructed in the early 1920s that are still in use have had repairs and replacements over the decades changing their historical significance. Time and economic trends take a toll on properties; thus, in 1984 a redevelopment plan was adopted for the Community Redevelopment Area (CRA) in the city. It covers 1,650 acres in the central part of the municipality west of the Intracoastal Waterway. 24 469 APPRAISAL REPORT Agriculture and farming had been important activities in past centuries in Boynton Beach. Commerce came to the area when Henry Flagler extended the Florida East Coast (FEC) Railway from West Palm Beach to Miami in 1896. The railroad was the main mode of transportation to bring visitors and manufactured products to the town as well as transporting produce grown in the vicinity out of the area to other cities in the southeastern United States. Freight trains still run through the subject market area on the FEC tracts. Higher speed, passenger Brightline train runs along the FEC tract, but does not stop in Boynton Beach. There are depots in downtown Miami, downtown Fort Lauderdale and downtown West Palm Beach. Boca Raton, Aventura, Port of Miami, and Stuart are added to the list. Rail service to Orlando is operating. In the future, there may be commuter rail service along the FEC tracks with a station in downtown Boynton Beach; however, no plans have been announced. The subject market area is the Federal Highway North CRA district, which is north of the Downtown CRA District. The boundaries are the city limit to the north at about NE 26 Avenue, NE 7 Avenue to the south, Lake Worth to the east and Federal Highway to the west. The area is comprised of commercial properties along Federal Highway, older single family residences to the east, along with marinas, and more recent, upscale multi- family projects. Many properties fronting Lake Worth take advantage of the location and use their riparian rights to have boat dockage. Across the lake from the subject market area is the South Lake Worth/ Boynton Inlet providing direct access to the Atlantic Ocean. Boynton Beach Boulevard (east/ west) and Federal Highway (north/south) are the most heavily traveled arteries in the city. Federal Highway, also known as US Highway 1, is the main north-south artery through the city. It is also the main north-south artery through eastern Palm Beach County and extends along the eastern seaboard of the United States. Heavily trafficked Federal Highway is a catalyst to redevelopment of the market area, with over 2,300 residential dwelling units in five projects either built or planned. Road beautification projects enhanced the aesthetics of the market area. Most individual properties have shallow depths, inhibiting redevelopment of small parcels on their own. Hence, assemblages of adjacent properties and rezoning to mixed use are revitalizing the subject market area. 25 470 APPRAISAL REPORT Primary east-west artery is Boynton Beach Boulevard, with Ocean Avenue to the south as a secondary thoroughfare. Boynton Beach Boulevard is the principal east-west artery in city, having interchanges with Interstate 95 and Florida’s Turnpike. Boynton Beach Boulevard commences in the east at US Highway 1, just to the east of the FEC Railroad. The boulevard continues west through Palm Beach County to its terminus at State Road 7/ U S Highway 441. To the northwest of the Downtown District and the Federal Highway North District is the Heart of Boynton District where the CRA has concentrated funds and effort into revitalizing the area with new housing options and upgraded streetscapes. The CRA has purchased numerous smaller properties to assemble larger sites for redevelopment of mixed use projects. Federal Highway North CRA contains two city parks oriented toward Lake Worth. Intracoastal Park at 2240 N Federal Highway contains about nine acres with a mangrove forest. This is a passive park for recreation rather than boating activities. Harvey E. Oyer, Jr. Park is at 2010 N Federal Highway, also containing about nine acres. Activities in this park are marine-oriented with a boat ramp, docks and fishing pier. Also there are a meeting facility, picnic tables and playgrounds. Information about the parks are in the Addenda. The appraised property is adjacent to the south of the Oyer Park. Population Trends The demographic survey in the beginning of the report of 1, 3, and 5 mile radial circles from the appraised property shows the median household income for 2024 in the one-mile radius is $55,135, for three miles it is $67,785, and $72,518 for the five mile circle. Median household income for Palm Beach County is $81,115. In the one-mile circle, population is 13,403. In three miles, population increases to 85,087; at five miles, it is 193,893. However, about half of the three and five mile circles are over the Atlantic Ocean and waterways. Annual growth rate in the one-mile circle for the next five years is anticipated to be high at 1.23%, with new multi-family residential complexes being constructed in central Boynton Beach. Annual growth rates in the three and five mile circles will be slower at 0.60% and 0.44%, respectively. 52% of the housing units are owner occupied, with 33% rented. 26 471 APPRAISAL REPORT This percentage of renters is high for Palm Beach County because investors bought up houses during the real estate crash after 2008. Vacancy is reported to be 15%; however, this amount is elevated due to the undercount of the other two categories as some residents are seasonal and not noted. Median home value in the five-mile area is $399,142 including the highly priced homes fronting the Atlantic Ocean and Intracoastal Waterway, compared to median home value of $355,577 in the United States. Economic Trends In South Florida, as in the rest of the United States, real estate prices climbed from 2003-2006. In 2007-2008, concerns were expressed about an unsustainable upward price trend in the market. Then, the economic collapse came in fall of 2008 along with the crash in real estate prices. In 2009, there were very few sales of any type of real estate. By 2010, it appeared that the worst was over. Cash buyers started making purchases. From 2013 to 2022, sales activity and prices recuperated. The upswing in prices is due in part to scarcity of developable land. Properties were back to pre-crash prices and in most cases exceeded that level. The upward trend in real estate prices plateaued and sales volume significantly diminished in the past two year s due to the increase in interest rates and prices of building materials. Sales volumes in 2023 and 2024 were 75% lower than in 2022 across the real estate board. Some construction projects were halted and some planned did not commence. The subject market area has examples of each case. The life cycle stage of the market area is revitalization, a period of renewal, modernization, and increasing demand. This revitalization is occurring throughout the CRA and is influencing activity in each sub-district. The catalyst of the revitalization was in the Downtown District with 500 Ocean fronting Federal Highway, consisting of 341 residential units, 20,000 square feet of retail space and 6,000 square feet of office. Several other mixed-use projects are planned along Federal Highway such as Ocean One at 114 N Federal Highway which was finally approved for 371 apartments, 25,588 square feet of retail, and 450 parking spaces. Davis Camalier sold the site to Hyperion Group for $78.98 per square foot in December, 2021. Another Federal Highway project is comprised of thirteen parcels beginning at the northeast corner of North Federal Highway and SE 2 Avenue, then extending east. 27 472 APPRAISAL REPORT All of the existing improvements were demolished and removed to make way for Broadstone at Boynton Beach, a mixed use project with 274 dwelling unit and 13,110 square feet of retail space. Land unit sale price equates to $83.18 per square foot in May, 2022 for the initial transaction. With the project underway, there was a second sale to another developer and construction has stopped for now. Boynton Beach Community Redevelopment Agency (CRA) accepted the proposal from Affiliated Development from five submissions to build a mixed- use project at 115 North Federal Highway. The CRA had purchased the property when improved with a church and subsequently demolished it. The size of the land offered by the CRA was 2.28 acres, including parking lots and the purchase of 508 East Boynton Beach Boulevard. Th e proposed project will be called the Pierce, for the legendary Barefoot Mailman, Charlie Pierce. Project size will be 236 apartments, 16,800 square feet of restaurant, retail and office, and 600 space parking garage. 150 of the apartments would be for workforce housing units. Boynton Beach CRA purchased the property at 511-529 East Ocean Avenue where Hurricane Alley Raw Bar & Restaurant is located. Purchase price was $3,600,000. This property consists of three buildings with a total size of approximately 17,201 square feet on a site of 17,903 square feet. It is in the block to the south of 115 North Federal Highway and will become part of the Pierce project. Town Square, a major redevelopment project to the west of Federal Highway, covers three blocks from the south side of Boynton Beach Boulevard south to SE 2 Avenue, encompassing 16.5 acres of land. The north section covers the area of the old city hall and police station which were demolished and removed. For several years, the north and south sections of the project have sat idle. The middle section was improved with a new City Hall, library, park, museum, amphitheatre and fire station. The former school was preserved. In April, 2023, the north and south sections were sold to Boynton Beach Town Center for a price of $44 million or approximately $115 per square foot of land. 28 473 APPRAISAL REPORT In the Heart of Boynton CRA district, Ocean Breeze East is completed at 700 North Seacrest Boulevard. The development is an affordable apartment project containing 123 units, retail space, clubhouse and swimming pool. The project came about by the Boynton Beach Community Redevelopment Agency selling the land and the Florida Housing Finance Corporation and TD Bank providing the financing. In the Heart of Boynton CRA district, Heart of Boynton Villages and Shops is nearing completion fronting the north and south sides of East Martin Luther King, Jr. Boulevard, east of Seacrest Boulevard. There will be 124 residential units, 8,530 square feet of commercial space and 218 surface parking spaces. Part of the land was transferred from the Boynton Beach CRA to Wells Landing Apartments, LLC. Wells Landing purchased four parcels from a private property owner to complete the site for the new project. Funding for the project was awarded to the property owner from the Florida Housing Finance Corporation. This project is anticipated to bring about more development along MLK Boulevard and surrounding avenues. At the southeast corner of Seacrest Boulevard and East Martin Luther King, Jr. Boulevard, the store was purchased and opened as Dollar Tree. A large section of the Cottage District from NE 4 Avenue to NE 5 Avenue, between Seacrest Boulevard and NE 1 Street is being developed by Pulte Homes with workforce housing. Parcel size is 4.6513 acres, comprised of smaller lots acquired over many years to assemble a large tract of land for a transformation of a substantial part of the area. Construction is underway for 41 for-sale units, consisting of 19 single-family houses and 22 townhouses. Boynton Beach CRA acquired three of the four corner properties at the intersection of Federal Highway and MLK Boulevard (NE 10 Avenue) in the Federal Highway North district. The southwest corner is privately owned. The southeast corner is the most recent purchase in February, 2024 for $1,000,000 or $60.33 per square foot of land. The 16,575 square foot parcel is zoned “C-4”, Commercial. Old improvements were demolished and removed by the CRA. Boynton Beach CRA acquired the property at 401-411 E Boynton Beach Boulevard and demolished the old improvement. Plans are redevelop the site with a USPS Downtown Station to replace the retail service that will be closed at the USPS at 217 N Seacrest Boulevard. 29 474 APPRAISAL REPORT Conclusion The town’s redevelopment goal is to transform Boynton Beach from a retirement community to a vibrant city where residents can enjoy living and working in an attractive setting. Boynton Beach Community Redevelopment Agency is instrumental in the renaissanc e of the city. The subject market area has the components of an appealing neighborhood with schools, parks and recreation. It is easily accessible by main roads and Interstate 95. Goods and services are available on Boynton Beach Boulevard and US Highway 1. With the involvement of the City of Boynton Beach and the Community Redevelopment Agency, the Community Redevelopment Plan can continue to succeed in revitalizing the area. The transformation of the area is in progress. Although, development of real estate takes time and the right market conditions have to be present. Upward price trend for property in the subject market area should continue for the foreseeable future. Platting: The appraised land is part of an old plat. A new plat is probably required for current development. Land Use: Current Land Use is MEDR, Medium Density Residential, maximum density 11 dwelling units per acre. Recommended future land use by the BB CRA is also Medium Density Residential, 11 units per acre. (See zoning and land use maps.) Zoning: “R -3”, Medium Density Residential, 11 dwelling units per acre, with the purpose to implement the medium density residential future land use map classification of the comprehensive plan. Minimum lot area is 4,000 square feet per unit; minimum lot frontage is 100 feet. An excerpt from the “R-3” ordinance is in the Addenda. 30 475 APPRAISAL REPORT Single family dwellings shall be constructed on lots that are no less than 6,000 square feet with a width of at least 60 feet and follow the building and site regulations of the “R -1”, Single Family District. Duplex use shall conform to “R-2” regulations, with a minimum lot size of 4,500 square feet per unit. The size of the entire appraised property is 1.27 acres with a width of 146.79 feet, which meets the minimum standards for development in the “R-3” district. The Planning official stated that gross acreage is measured from lot line to lot line. For the entire subject site, the number of permitted units would be 13. If the south 60 feet were retained by the owner, the size of the subject would be 0.75 of an acre with a width of 87 feet. Maximum number of permitted units would be 8. Permitted uses in the “R-3” district include: single family, duplex, multi-family, townhouse, home -based business. The following may be permitted in a “CDO”, Cultural District Overlay: restaurant, personal care facility, business office, gymnasium, theatre, et cetera. Boynton Beach Planning officials stated that the subject property is not in a CDO and those uses would not be permitted on the appraised property. Further, a stand-alone parking garage or lot is not permitted in the “R-3” district. Note: In the Recreation zoning district, restaurant may be permitted as an accessary use. Thus, if the property were rezoned to Recreation and tied to the park by Unity of Title, a restaurant might be permitted on the subject tract. 31 476 APPRAISAL REPORT Site Description: The shape of the entire site and the north 87 feet is a rectangular. Dimensions are from the sketches of survey included in the Addenda. Entire site: North boundary on Oak Street & walk: 375.00 feet East boundary on Lake Worth: 146.79 feet S boundary on adjacent property: 375.00 feet West boundary on New Palm Way: 146.79 feet Land size is 55,046 square feet or 1.27 acres. North 87 feet of site: North boundary on Oak Street & walk : 375.00 feet East boundary on Lake Worth: 86.79 feet S boundary on south section of subject: 375.00 feet West boundary on New Palm Way: 86.79 feet Land size is 32,546 square feet or 0.52 of an acre. Utilities: All utilities are available to the site. Access: The site is accessible via Oak Street, a two-laned local road. There are streetlights, but no sidewalks. Oak Street intersects with Federal Highway at its western terminus. The parcel is also accessible via New Palm Way, a two-laned local road. As mentioned, Palm Way was moved from within the boundaries of the subject to its western border to become New Palm Way. Easements: Easements are not noted on the sketch of survey. If they exist, utility easements would be most probably be close to the old house. 32 477 APPRAISAL REPORT Submerged Land: Approximately, the east 40 feet (on average) of the land concerned is submerged. The depth fluctuates with the tide. A bathymetric survey (in Addenda) shows the submerged portion of the subject with depths from zero to four feet. About 11% of the entire subject sit is submerged (89% upland). The dry land is separated from the water via a seawall. Condition of the seawall is unknown and probably dates back to the 1950s when the house was constructed. The National Wetland Inventory Map (in Addenda) identifies this portion of the site as Estuarine and Marine Deepwater, subject to regulations governing development in this type of wetland. This designation is standard for most of the submerged land in Lake Worth and the Intracoastal Waterway. Improvement Description: Depreciated improvements have no contributory value to the highest and best use of the property. Building sketch is in the Addenda. Environmental Assessment: No assessment was available for review. 2-2(a) (v) State the real property interest appraised; A person who owns all the property rights is said to have fee simple title. A fee simple title implies absolute ownership unencumbered by any other interest or estate. Partial interests in real estate are created by selling, leasing, et cetera. Partial estates include leased fee and leasehold estates. The interest appraised is fee simple and all riparian rights. Riparian rights are those incident to land bordering navigable waters, meaning the upland property extends to the normal high-water line. Riparian rights in Florida are rights of ingress, egress, boating, bathing, fishing, et cetera. Also included is the right of an unobstructed view of the adjoining water. They cannot be separated from the riparian land. 33 478 APPRAISAL REPORT 2-2(a)(vi) State the type and definition of value and cite the source of the definition; The purpose of the appraisal is to develop opinions of market value of the subject property as of June 13, 2025. MARKET VALUE: a type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal. The conditions included in market value definitions establish market perspectives for development of the opinion. These conditions may vary from definition to definition but generally fall into three categories as follows. 1. the relationship, knowledge, and motivation of the parties (i.e., seller and buyer); 2. the terms of sale (e.g., cash, cash equivalent, or other terms); and 3. the conditions of sale (e.g., exposure in a competitive market for a reasonable time prior to sale). Market value appraisals are distinct from appraisals completed for other purposes because market value appraisals are based on a market perspective and on a normal or typical premise. These criteria are illustrated in the following definition of Market Value*, provided here only as an example. Market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition are the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions as follows. 1. buyer and seller are typically motivated; 2. both parties are well informed or well advised and acting in what they consider their own best interests; 3. a reasonable time is allowed for exposure in the open market; 4. payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and 5. the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. * This example definition is from regulations published by federal regulatory agencies pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989 between July 5, 1990, and August 24, 1990, by the Federal Reserve System (FRS), National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS), and the Office of Comptroller of the Currency (OCC). This definition is also referenced in regulations jointly published by the OCC, OTS, FRS, and FDIC on June 7, 1994, and in the Interagency Appraisal and Evaluation Guidelines, dated December, 2010. Florida Court Definition: “Market Value is the price that a seller willing, but not compelled to sell, and a buyer willing, but not compelled to buy, would agree to in fair negotiations with knowledge of all the facts.” [Source: Fla. Power & Light Co., v. Jennings, 518 So.2d 895 (Fla. 1987)] 34 479 APPRAISAL REPORT 2-2(a)(vii) State the effective date of the appraisal and the date of the report; A) Effective Date of the Appraisal: June 13, 2025 B) Date of the Report: June 13, 2025 2-2(a)(viii) Summarize the scope of work used to develop the appraisal; The appraisal problem is to develop an opinion of value of the property based on its highest and best use. The appraisers visited the property. An investigation was made into the physical characteristics of the property that could affect its value. The market area was surveyed to determine its stage of the life cycle. Research was conducted to ascertain economic factors that might influence value. Data research consisted of collecting, confirming, and reporting land sales. The process included searches and analyses, inspections and confirmations, and final reporting. The appraiser examined several sources of sales data, including CoStar Group, Loopnet, Realquest, Palm Beach County Property Appraiser’s records, the public records, and data from the appraisers’ plant. 2-2(a)(ix) Summarize the extent of any significant real property appraisal assistance; The two signatory appraisers are the only people involved in the appraisal process. 2-2(a)(x)(1) Summarize the appraisal methods and techniques employed; (2) State the reasons for excluding any of the valuation approaches; (3) Summarize the results of analyzing the subject sales, options and listings; (4) State the value opinion and conclusion (5) Summarize the information analyzed and the reasoning that supports the analyses, opinions, and conclusions 35 480 APPRAISAL REPORT For Sales Comparison Approach, land sales are compared to each other and to the site under appraisement to arrive at an opinion of value for the fee simple interest. Adjustments are made to the sales for difference in elements of comparison affecting price. The information analyzed and the appraisal method used is detailed in the valuation section of the report. Further, the reasoning that supports the analyses, opinions, and conclusions is explained in the valuation section. Cost Approach is not used because there are no building structures on the site that have any contributory value to the property. The Income Approach is not employed in this appraisal because most sites like the subject are purchased and not leased. Exclusion of these approaches to value still produces a creditable report. SR 1-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; There are no known sales agreements or options as of the effective date of appraisal. The entire property is reportedly offered to the BB CRA for a purchase price of $6,000,000; however, no listing document is available for review. The asking price is close to the appraised value. The thorough search for comparable sales results in the more accurate value of the subject property. b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. There was a deed of trust recorded in July, 2001; however, it was not an arm’s length transaction. A copy of the deed is in the Addenda. The last transfer of ownership was by quit claim deed in September, 2023. It was not an arm’s length sale; however, the change of ownership caused the loss of exemptions and the aforementioned significant increase in real estate tax. 36 481 APPRAISAL REPORT 2-2(a)(xi) State the use of the real estate existing as of the effective date and use of the real estate reflected in the appraisal; The use of the real estate on the date of valuation is essentially vacant land, and it is this use which is reflected in the appraisal. No personal property is included in the valuation. 2-2(a)(xii) When an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Physically Possible as Vacant No soil or subsoil tests are available for review. The land borders Lake Worth/ Intracoastal Waterway, separated by an old seawall. Tests are necessary to determine if reinforcements are necessary for the foundations of structures to be constructed on the site. The dry land is approximately 89% of the site; submerged land is about 11%. The dry land is relatively level and filled to street grade; although, the type of fill is not known. The appraised site is part of an old plat that probably requires replatting to modern standards. Total land size is 1.27 acres; north 87 feet of the site contains 0.75 of an acre. Frontage to depth ratio for the entire parcel is 0.39:1; the ratio for the north 87 feet is reduced to 0.23:1. The significance of this ratio is that the greater the frontage, the more of the water is in view. The tract is accessible via two local roads. All utilities are available to the s ite. Physical constraint to develop the site is its size which governs the number and size of potential buildings which can be placed on it. Legally Permissible as Vacant Legal restrictions to the development of the site consist of land use designation, building and zoning codes, platting restrictions and restrictive covenants. Zoning is “R-3”, Residential Multi-family. Minimum lot area is 4,000 square feet per unit; minimum lot frontage is 100 feet. The entire subject size is 55,046 square feet, with a 147 foot width. 37 482 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT Subject size is standard for the “R-3” district. However, city officials determine permitted uses. Future land use is “MEDR”, Medium Density Residential, 11 dwelling units per acre. Recommended land use by the BB CRA is the same. Using the gross size of the entire site, possible use would be 13 dwelling unit. Using the north 0.75 of an acre of the site, possible use would be 8 dwelling units. As discussed, restaurant and stand-alone parking facility are not permitted in this section of the “R-3” zoning district. Again, city officials make that determination. Financially Feasible as Vacant The third test of Highest and Best Use is economic feasibility. Demand for a certain property type must be evident for it to be feasible. For it to be financially feasible, the use must be marketable and provide the investor with a competitive return when compared with alternate uses. The Federal Highway North CRA district is built out with commercial properties along the highway, with most marine based uses such as repair/ service marina, boat storage marinas (both dry-stack and in water), marine provisions, et cetera. Residential properties include dry-land single family houses, multi-family complexes, and properties on canals with deep-water access. Any developable site on the water has a structure on it. There are some parcels which are environmentally sensitive and cannot be developed. The appraised property was improved in 1958. Most of that age have been razed to make way for more recent projects. To the south of the subject is a complex constructed in the 1970s. There are many other multi-family or townhouse projects on the east side of Federal Highway that extend to Lake Worth and use their riparian right for dockage. The subject market area and surrounding areas have been built-out for years. If a property became available for redevelopment, a builder would purchase it and construct as many units as permitted oriented toward the lake and obtain permits to construct docks. The new product would be quickly absorbed by the market. The Harvey E. Oyer, Jr. Park is to the north with a boat launch and docks of its own. The Boynton Inlet to the Atlantic Ocean is across Lake Work. The location is ideal for a boater to purchase a dwelling unit there. 38 483 HIGHEST AND BEST USE OF THE PROPERTY AS VACANT The most probable buyer is a local developer who wants to construct a multi- family or townhouse project on Lake Worth. Time for development is now with no competition from a new project on Lake Worth or other cities in the vicinity. Maximally Productive as Vacant In summary, the Highest and Best Use of the entire land in question is to be developed with the maximum number of dwellings allowed on the site and use the riparian rights for docks on Lake Worth. Such use would be physically possible, probably legally permissible, financially feasible and maximally productive. Maximally productive use of the north 87 feet of the site is the same as the entire site; however, the number of units would be less and the frontage to depth ratio is reduced. STRENGTHS AND WEAKNESSES OF THE SUBJECT PROPERTY Following is a brief summary of the high and low points of the appraised land. STRENGTHS • Very few vacant parcels of any type zoning on major waterways, especially permitting multi-family use • Size of entire site is sufficient to attract a developer • Size large enough for a marketable project • Land fronts Lake Worth, with dockage possible • Boynton Inlet in close proximity • Frontage to depth ratio is in the lower range, but workable WEAKNESSES • Land probably requires replatting • New seawall and cap are needed • Reduced privacy next to a park • Reduced privacy next to a four-story multi-family complex • Surrounding neighborhood is improved with older houses 39 484 • If the site is subdivided, frontage to depth ratio is reduced • Subdividing site reduces number of dwelling units possible and less attractive to a developer • Subdividing land would reduce amenities offered in the complex and make project less marketable 2-2(a) (xiii) Clearly and Conspicuously: State all extraordinary assumptions and hypothetical conditions; and state that their use might have affected the assignment result. There are no extraordinary assumptions or hypothetical conditions in this report. 2-2(a) (xiv) Include a signed certification in accordance with Standards Rule 2-1 See signed certification in report. 40 485 SALES COMPARISON APPROACH LAND VALUATION 41 486 42 487 43 488 VACANT LAND SALES SALE NO. 1 LEGAL DESCRIPTION Lot 12, SOUTH PALM PARK, Plat Book 11, page 6, Palm Beach County, FL RECORDED O.R. Book 34653, page 1906, Palm Beach County, FL GRANTOR Middleit LLC GRANTEE Peter Silberstein, et al DATE OF SALE October 30, 2023 LOCATION 3 18th Avenue South Lake Worth Beach, FL DESCRIPTION Land Size of entire site: 14,810 square feet 0.34 acres Land Size of dryland: 12,600 square feet 85% of site Zoning: “SFR”, Single family residential Permitted Density: one unit per lot Possible no. of units on site: one Platted: Yes Use at sale: Vacant Intended Use: Single family residential SALE PRICE $1,650,000 UNITS OF COMPARISON $111.41 per square foot of entire site Frontage to Depth Ratio: 0.25:1 PARCEL CONTROL NUMBER 38 43 44 34 05 000 0120 CONDITIONS OF SALE Arm’s length transaction. Cash sale. CONFIRMED Office of closing attorney Jeffrey D. Levy COMMENTS Prior sale on March 21, 2023 for $1,400,000. Price increase between two dates of sale is 2.55% per month, annualized to 30.62%. Currently listed for sale at a price of $2,400,000. 44 489 AERIAL VIEW OF LAND SALE 1 3 18TH AVENUE SOUTH LAKE WORTH BEACH, FLORIDA 45 490 LAND SALE 1 3 18TH AVENUE SOUTH LAKE WORTH BEACH, FL 46 491 VACANT LAND SALES SALE NO. 2 LEGAL DESCRIPTION A parcel of land lying in Government Lot 4, Section 35, Township 40 South, Range 42 East, Palm Beach County, FL. Full description on acquiring deed in the appraisers’ file. RECORDED O. R. Book 35508, page 1500, Palm Beach County, FL GRANTOR Donald Goering GRANTEE Timothy Elliott, et al DATE OF SALE January 16, 2025 LOCATION 5524 Pennock Point Road Unincorporated Palm Beach County, FL DESCRIPTION Land Size of entire site: 43,200 square feet one acre Land Size of dryland: 31,212 square feet 72% of site Zoning: “RS”, Single Family Residential Permitted Density: one unit per lot Possible no. of units on site: one Platted: No Use at sale: Old single family residence Intended Use: New single family residence SALE PRICE $6,400,000 UNITS OF COMPARISON $148.15 per square foot of entire site Frontage to Depth Ratio: 0.27:1 PARCEL CONTROL NUMBER: 00 42 40 35 01 004 0010 CONDITIONS OF SALE Arm’s length transaction. Cash sale. CONFIRMED Office of closing attorney Scott L. McMullen COMMENTS Grantee demolished the house and swimming pool after purchase. Property is located on the Southwest Fork of the Loxahatchee River which leads east to the Intracoastal Waterway and Jupiter Inlet to the Atlantic Ocean. 47 492 AERIAL VIEW OF LAND SALE 2 5524 PENNOCK POINT ROAD PALM BEACH COUNTY, FLORIDA 48 493 LAND SALE 2 5524 PENNOCK POINT ROAD PALM BEACH COUNTY, FL 49 494 VACANT LAND SALES SALE NO. 3 LEGAL DESCRIPTION A parcel of land lying in Government Lots 4 and 5, Section 35, Township 40 South, Range 42 East, Palm Beach County, FL. Full description on acquiring deed in the appraisers’ file. RECORDED O. R. Book 35772, page 642, Palm Beach County, FL GRANTOR Pennock Point Estates LLC GRANTEE Lendalk Properties LLC DATE OF SALE May 25 , 2025 LOCATION 5548 Pennock Point Road Unincorporated Palm Beach County, FL DESCRIPTION Land Size of entire site: 51,000 square feet 1.17 acre Land Size of dryland: 37,897 square feet 72% of site Zoning: “RS”, Single Family Residential Permitted Density: one unit per lot Possible no. of units on site: one Platted: No Use at sale: Vacant Intended Use: New single family residence SALE PRICE $6,500,000 UNITS OF COMPARISON $127.45 per square foot of entire site Frontage to Depth Ratio: 0.20:1 PARCEL CONTROL NUMBER: 00 42 40 35 01 004 0050 CONDITIONS OF SALE Arm’s length transaction. Cash sale. CONFIRMED Office of closing attorney Allison R. Percy COMMENTS Property is located on the Southwest Fork of the Loxahatchee River which leads east to the Intracoastal Waterway and Jupiter Inlet to the Atlantic Ocean. Prior sale on May 5, 2023 for $5,546,110. Price increase between dates of sale is 9% per year. 50 495 AERIAL VIEW OF LAND SALE 3 5548 PENNOCK POINT ROAD PALM BEACH COUNTY, FLORIDA 51 496 LAND SALE 3 5548 PENNOCK POINT ROAD PALM BEACH COUNTY, FL 52 497 VACANT LAND SALES SALE NO. 4 LEGAL DESCRIPTION Lots 6 and 7, Block 5, POMPANO BEACH PARK, Plat Book 21, page 20, Broward County, FL RECORDED Instrument No. 119560470, Broward County, FL GRANTOR 113 S Riverside Drive LLC, et al GRANTEE River Dev LLC DATE OF SALE May 1, 2024 LOCATION 117 South Riverside Drive Pompano Beach, FL DESCRIPTION Land Size of entire site: 18,000 square feet 0.41acres Land Size of dryland: 18,000 square feet 100% of site Zoning: “RM-45”, Residential Multi-family, 45 units/ acre Permitted Density: 45 units Possible no. of units on site: 19 units Platted: Yes Use at sale: Vacant Intended Use: Multi-family, 45 units/ acre SALE PRICE $3,500,000 UNITS OF COMPARISON $194.44 per square foot of entire site Frontage to Depth Ratio: 80% FOLIO NUMBER 49 43 06 11 0500 CONDITIONS OF SALE Arm’s length transaction. Cash sale. CONFIRMED Office of closing attorney Alejandro E. Jordan COMMENTS Site located just south of Atlantic Boulevard in Pompano Beach, a commercial area. 53 498 AERIAL VIEW OF LAND SALE 4 117 SOUTH REVERSIDE DRIVE POMPANO BEACH, FLORIDA 54 499 LAND SALE 4 117 SOUTH RIVERSIDE DRIVE POMPANO BEACH, FL 55 500 VACANT LAND SALES SALE NO. 5 LEGAL DESCRIPTION Lots 5, 6, 7 and 8, SURFSIDE VILLAS AMENDED PLAT OF PARCEL NO. 4, Plat Book 27, page 35, Broward County, FL RECORDED Instrument No. 118070233, Broward County, FL GRANTOR Riverside North Developers LLC, et al GRANTEE Entourage Florida Development LLC DATE OF SALE April 7, 2022 LOCATION 407 North Riverside Drive Pompano Beach, FL DESCRIPTION Land Size of entire site: 40,753 square feet 0.94acres Land Size of dryland: 40,753 square feet 100% of site Zoning: “RM-45”, Residential Multi-family, 45 units/ acre Permitted Density: 45 units Possible no. of units on site: 42 units Platted: Yes Use at sale: Multi-family residential 23 units Intended Use: Multi-family, 45 units/ acre SALE PRICE $9,300,000 UNITS OF COMPARISON $228.20 per square foot of entire site Frontage to Depth Ratio: 55% FOLIO NUMBER 48 43 31 13 0060 CONDITIONS OF SALE Arm’s length transaction. Cash sale. CONFIRMED Office of closing attorney Edward Gusky COMMENTS Site located north of Atlantic Boulevard in Pompano Beach area. At sale, the property was improved with 23 unit apartment building. Grantee demolished the building. New project is 42 condo units called Entourage in the Sun. 56 501 AERIAL VIEW AT SALE FOR LAND SALE 5 407 NORTH RIVERSIDE DRIVE POMPANO BEACH, FLORIDA AERIAL VIEW JUNE, 2025 407 NORTH RIVERSIDE DRIVE POMPANO BEACH, FLORIDA 57 502 LAND SALE 5 407 NORTH RIVERSIDE DRIVE POMPANO BEACH, FL 58 503 VACANT LAND SALES SALE NO. 6 LEGAL DESCRIPTION Lot 63 and the south 30.67 feet of Lot 62, WAHOO NO. 2, Plat Book 7, page 49, Broward County, FL RECORDED Instrument No. 119122977, Broward County, FL GRANTOR Luna North LLC GRANTEE SAAS 4524 Seagrape Lender LLC DATE OF SALE September 15, 2023 LOCATION 1601 North Riverside Drive Pompano Beach, FL DESCRIPTION Land Size of entire site: 14,892 square feet 0.34acres Land Size of dryland: 14,892 square feet 100% of site Zoning: “RM-45”, Residential Multi-family, 45 units/ acre Permitted Density: 45 units Possible no. of units on site: 15 units Platted: Yes Use at sale: Vacant Intended Use: Multi-family, 45 units/ acre SALE PRICE $2,300,000 UNITS OF COMPARISON $154.45 per square foot of entire site Frontage to Depth Ratio: 52% FOLIO NUMBER 48 43 30 03 0450 CONDITIONS OF SALE Arm’s length transaction. Cash sale. CONFIRMED Office of closing attorney at JW Law Firm COMMENTS Site located north of Atlantic Boulevard in Pompano Beach area. Prior sale on February 9, 2022 for $1,700,000. Price increase between date of sale is annualized to 22%. 59 504 AERIAL VIEW OF LAND SALE 6 1601 NORTH RIVERSIDE DRIVE POMPANO BEACH FLORIDA 60 505 LAND SALE 6 1601 NORTH RIVERSIDE DRIVE POMPANO BEACH, FL 61 506 LAND SALE COMPARISON & ADJUSTMENT CHART Transactional Adjustments P r o p e r t y A d j u s t m e n t LAND SALE PRICE SALE LAND SIZE % Dry ZONING UNITS Market Conditions Adjusted Price Frontage to Platted Seawall Overall SALE $/Sq.Ft.DATE Sq.Ft. (All)Land DENSITY Possible 5%/Year for Market Conditions Depth Ratio Land & Cap Adiustment 1 3 18th Avenue South $1,650,000 10.30.2023 14,810 0.85 "SFR"1 $130,350 $1,780,350 0.25:1 Yes Yes Superior Lake Worth Beach, Florida $111.41 1 Unit/Lot Inferior + 7.9%$120.21 Inferior Superior Superior 2 5524 Pennock Point Road $6,400,000 1.16.2025 43,200 0.72 "RS"1 $133,120 $6,533,120 0.27:1 No No Similar Unincorp. Palm Beach County, Florida $148.15 1 Unit/Lot Inferior + 2.08%$151.23 Inferior Similar Similar 3 5548 Pennock Point Road $6,500,000 5.25.2025 51,000 0.72 "RS"1 $0 $6,500,000 0.20:1 No Yes Similar Unincorp, Palm Beach County, Florida $127.45 1 Unit/Lot Equal $127.45 Inferior Similar Superior 4 117 South Riverside Drive $3,500,000 5.1.2024 18,000 1.00 "RM-45"19 $177,800 $3,677,800 0.80:1 Yes Yes Superior Pompano Beach, Florida $194.44 45 Units/AC Inferior 5.08%$204.32 Superior Superior Superior 5 407 North Riverside Drive $9,300,000 4.7.2022 40,753 1.00 "RM-45"42 $1,474,050 $10,774,050 0.55:1 Yes Yes Superior Pompano Beach, Florida $228.20 45 Units/AC Inferior + 15.85%$264.37 Superior Superior Superior 6 1601 North Riverside Drive $2,300,000 9.15.2023 14,892 1.00 "RM-45"15 $201,250 $2,501,250 0.52:1 Yes Yes Superior Pompano Beach, Florida $154.45 45 Units/AC Inferior + 8.75%$167.96 Superior Superior Superior SUBJECT 670 Oak Street 6.13.2025 55,046 0.89 "R-3"13 -----'''''0.39:1 Old Old Boynton Beach, FL 11 units/Ac 62 507 SALES COMPARISON APPROACH LAND VALUATION OVERVIEW Of the several methods to develop an opinion of land value, the one considered to be the most reliable is the Sales Comparison Approach. In this method, sales of other similar vacant parcels are compared to the site concerned; then adjusted for differences to arrive at land value The steps of Sales Comparison in Land Valuation are: 1) Locate and collect information of recent sales of sites most similar to the land being appraised. 2) Verify the sales information with the most reliable sources, including details of financing and any special considerations or non-typical market features. 3) Select relevant units of comparison and develop a comparative analysis. 4) Compare and adjust the sales to the subject using significant, market-derived units of comparison. 5) Reconcile all value indications from the comparisons into a value opinion by this approach. In this section of the appraisal, the entire subject parcel is valued initially. Following, the north 87 foot portion is valued. The entire appraised tract contains 55,046 square feet; located at 670 Oak Street, Boynton Beach, FL. The site fronts Lake Worth. Zoning is “R-3”, Residential Multi- family, 11dwelling units per acre. A meticulous search was made to find recent transactions of sites which would provide indications of value for the appraised land. The search covered the east coast of Florida from Broward County on the south to Martin County on the north, focusing on Palm Beach County. The demand for waterfront property is strong, with very few vacant sites available for sale. Most come about by the razing of old improvements to make way for a new one. Large sections of waterfront property are environmentally sensitive and cannot be developed, thus reducing the supply. Few sales occurred during the past few years, with most zoned for single family use. Some of these sales were in market areas where the sale prices of the surrounding houses were at the top level of home prices and not the same type market area as the subject’s with a small, older houses, parks, multi-family buildings, marinas and commercial properties. The extensive search revealed there were no sales of “R-3” type zonings permitting low-medium density of units in the 10 to 20 dwellings per acre. Properties in this category had increases in density to allow more waterfront units which have greater market appeal. The sales found are in two categories: single family residential and high density multi-family. The data found are used to develop opinions of value for the land under appraisement. With the diversity of property types, qualitative analysis is used in this valuation section with rating the elements of comparison of the sales as superior, similar or inferior to the subject’s characteristics. (Continued) 63 508 SALES COMPARISON APPROACH (Continued) Of the sales reviewed, six of the most relevant transactions are included in this analysis. Details of the sales are on individual land sales sheets and the Land Sales Comparison & Adjustment Chart in the report. A unit of comparison used by buyers and sellers of this type land is the Sale Price per Square Foot of Land. The range of unit prices of the land sales used (before adjustments) is from $111.41 to $228.20 per square foot. ELEMENTS OF COMPARISON Elements of comparison are the characteristics of transactions and properties that cause variation in prices paid for real estate. The Appraisal of Real Estate states that there are several basic elements of comparison to consider in sales comparison analysis for land valuation. The first group is termed transactional elements being: real property rights conveyed, financing terms, conditions of sale and market conditions. Adjustments for transactional elements are made, then, attention is focused on the second group, property elements. This second group of property elements consists of location, physical characteristics and use. The relevant elements are hereafter discussed. Real Property Rights Conveyed A transaction price is always predicated on the real property interest conveyed. Property interests conveyed can either be fee simple (without tenants) or leased fee (subject to leases). An adjustment for property rights conveyed is based on whether a leased fee interest was sold with leases at, below, or above market rent. The interest valued for the subject property is fee simple with riparian rights. The land sales were all conveyances of fee simple interests with riparian rights. None of the sales had easements which were significant enough to affect the price. No adjustment is necessary for this element of comparison. Financing Terms Financing terms may have a bearing on the price paid for a property. Such terms that may affect price include assuming a mortgage at lower than current interest rates, the seller paying a buydown for the buyer to have a lower interest rate, or the seller providing financing for a transaction at lower than typical institutional rates. In all of these cases, the buyer could have paid higher prices in such transactions to obtain favorable financing. The reverse is also a possibility in which lower sale prices result from above market financing. All of the land sales were in cash, the most common means of purchase for vacant land. No adjustment is required for this element of comparison. (Continued) 64 509 SALES COMPARISON APPROACH (Continued) Conditions of Sale Condition of sale addresses the motivation of buyers and sellers. Such motivations include a seller accepting a lower than market price for needed cash, a lender selling a previously foreclosed property to comply with regulations imposed on the institution, or a buyer purchasing an adjacent property. Even arm's length transactions may be the result of atypical motivation, such as lack of exposure time to the market, the result of an eminent domain proceeding, or tax consideration. None of the land sales are transactions by lenders after foreclosures of prior mortgages on the properties. Each of the land sales was exposed to the open market for a reasonable time. The buyers had specific uses in mind when the purchases were made. Conditions of sale for the comparables are typical for the market. No adjustment is necessary for this element of comparison. Market Conditions Comparable sales that occurred under different market conditions than those applicable to the subject on the effective date of the value estimate require adjustment for any differences that affect their value. The most common adjustment for market condition is time; however, the passage of time itself is not the cause of the adjustment. Market conditions which change over time are the reason to make the adjustment, such as appreciation or depreciation due to building inventory, changes in tax laws, investor's criteria, building moratoriums, fluctuation in supply and demand, et cetera. It is also possible that there is no change in market condition over time. Two of the sales occurred in 2025, one in 2024, two in 2023 and one in 2022. Some properties have had a significant increase in price during the past few years. Such increases are characteristic of the market due in part to scarcity of properties for sale and lack of land for more building. The high percentage of increase may not be representative of the price trend going forward with the looming concern of inflation and projected increase in price of building materials. Land Sale 1 had a quick sale-resale in 2023 showing a price increase of 31% in seven months. The property is again for sale at an elevated price, with no buyer. Land Sale 3 had a sale-resale indicating a price increase of 9% per year during a two year period. Sale-resale of No. 6 shows a 22% increase during a short time period. Considering the various market indicators, a moderate upward trend of 5% per annum is applied to the sale prices. Hence, each of the sales is adjusted upward 5% annually for market conditions to the effective date of appraisal. The amounts of the adjustments are shown on the chart. Adjustments have been considered to the sales for transactional elements of comparison. Next, adjustments for property elements of comparison are considered. (Continued) 65 510 SALES COMPARISON APPROACH (Continued) Location The location of a property is a key factor in prompting a buyer to purchase it. Location encompasses many aspects such as road frontage, access, proximity to other competing properties, proximity to a market that will use the goods and services housed in a property, governmental influences, average daily traffic flow, etc. Typically, properties in a neighborhood share some of the same locational characteristics such as age, condition, and style. The appraised land borders Lake Worth and the Intracoastal Waterway; it is across the lake from the Boynton Inlet to the Atlantic Ocean. All of the land sales front major waterways and have riparian rights. Land Sale 1 is the closest geographically to the subject and most similar in market area of a mix of property types. There are commercial properties on Federal Highway, older single family houses on dry lots and a few upscale houses fronting Lake Worth. Land Sales 2 and 3 border the Southwest Fork of the Loxahatchee River which travels east a short distance to the Jupiter Inlet to the Atlantic Ocean. The market area for Sales 2 and 3 are dry lot single family houses and waterfront homes bordering the river. Land Sales 1, 2 and 3 are in zoning districts that permit only single family residential use, one dwelling per lot. Land Sales 4, 5 and 6 are located in Broward County, fronting the east side of the Intracoastal Waterway. Zoning for the three sales is RM-45, medium high density, 45 dwelling units per acre. As mentioned, density was less intense for these type properties in the past. Then, the city of Pompano Beach increased the density to accommodate the demand for waterfront dwellings. Land Sale 5 is an example of an old style apartment building of 23 units razed to redevelop the site with a mid-rise complex of 42 units. The market area for Sales 4, 5 and 6 is multi-family projects ranging from 60 years old to new construction, old houses on dry lots and commercial uses on the main streets. Land Sales 1, 2 and 3 as a group have lower prices per square foot. Sales 4, 5 and 6 have higher unit prices as expected. However, they are in a relatively close range when viewing the entire array of unit prices for luxury houses and very high density projects. The appraised land has more in common with Nos. 4, 5 and 6, but cannot produce the yield to the land that the sales can. The common feature for all of the properties is the waterfront location which is in high demand. Physical Characteristics Physical characteristics to be considered for adjustments are those that cause a difference in price to be paid by the market. A wide range of such items includes land size, shape, frontage, topogra phy, view, access, functional utility, degree of readiness for development, et cetera. Adjustments for physical characteristics are best derived from the market by paired sales comparison. Through the process of searching for comparable sales, the physical characteristics are of great import. From the universe of possible comparable sales, those that are most similar to the site appraised are presented in the report for analysis and comparison to the subject. The lesser the number of physical differences, the better. (Continued) 66 511 SALES COMPARISON APPROACH (Continued) Physical characteristics is the element of comparison that most affects price in this category of property. As mentioned, all of the sites are waterfront; however, the subject and Land Sales 1, 2 and 3 are partially submerged. The subject is about 89% dry, with No. 1 at about 85% dry. Sales 2 and 3 have greater submerged areas, with upland being 72%. In Broward County, the Intracoastal Waterway sets the bordering properties’ limits, making 100% of the sites upland. Greater percentage of upland increases the buildable area of the site and its price. Three significant aspects of the sales’ physical characteristics are frontage to depth ratio, platted land, and seawall and cap. As mentioned a greater frontage to depth ratio is indicative of more land facing the water for better view. The entire subject site has a ratio of 0.39:1. Land Sales 1, 2 and 3 are inferior to the subject with ratios of 0.20:1 to 0.27:1. These sales are long and narrow in shape. Sales 4, 5 and 6 have ratios of 0.52:1 to 0.80:1, superior to the subject. More frontage on the waterway increase visibility of activity there. The land in question is part of an old plat which most probably has to be updated or replatted before the site can be redeveloped. Platting is a key factor in stage of readiness for development, costing time and money to the property owner to accomplish. Land Sales 1, 4, 5 and 6 are platted and superior to Sales 2, 3 and the subject. The subject has an old seawall that would be replaced in construction of a project on the site. All of the sales except No. 2 have seawall and cap. They are superior to the Sale 2 and the subject. Sale 2 is similar to the subject in requiring a new security barrier. Cost of a seawall and cap varies, with an average price of about $1,000 per lineal foot for a substantial one fronting a major waterway. The ratings of the sales are shown on the Land Sales Comparison and Adjustment Chart. Use For sites to be comparable, they should have similar uses. The highest and best use for the appraised property is medium density residential, 11 units per acre. The land sales are in two groups of different densities than the subject, but are the market data that is available to compare to the subject. The common characteristic of the properties is that they all have a residential highest and best use. Hence, no adjustment is made for this element of comparison. (Continued) 67 512 SALES COMPARISON APPROACH (Continued) FINAL VALUATION The land sales are arrayed according to their overall adjustment toward the appraised property. Land Sale No. Overall Adjustment Adjusted Price/ SF 3 Similar $127.45 2 Similar $151.23 1 Superior $120.21 6 Superior $167.96 4 Superior $204.32 5 Superior $264.37 The adjusted unit prices for Land Sales 1 and 3 are close, with Sale 2 out of their range. More weight is placed on the Sales with the more similar adjusted unit prices. Sales 4, 5 and 6 are less superior to the subject and set the upper limit of the total range. No. 5 has the highest adjusted unit price, as it is the larger of these three sales and is under construction with a new high density project. The highest and best use of the appraised land is medium density; however, the specific use is uncertain. Considering all of the foregoing discussion, the unit value for the entire subject site is $120.00 per square foot. The quantity of the comparable data is sufficient to have an overview of the market for residentially zoned, waterfront land similar enough to the appraised parcel. The quality of the data is good in that it provides a sound basis to develop opinions of value for the land under appraisement. Based on the analysis and conclusions presented within the report, it is our opinion that the Market Value of the Fee Simple Estate of the entire Subject Property as of June 13, 2025 is: 55,046 square feet x $120.00 per square foot = (rounded to) VALUE BY SALE COMPARISON APPROACH $6,606,000 SIX MILLION SIX HUNDRED SIX THOUSAND DOLLARS Subdividing the entire site into sections of north 87 feet and south 60 feet, causes the north part to have a reduced frontage to depth ratio of 0.23:1. Further, as listed under weaknesses of the property, subdividing the site reduces the number of dwelling units possible and makes the tract less attractive for a developer to purchase. Also, subdividing the parcel would reduce the amenities that would be offered in the complex and reduce the price of a unit. For all of these reasons, the unit value for the north 87 feet is 10% less than the unit value for the entire site. Unit value for the north 87 feet is $108.00 per square foot. 32,546 square feet x $108.00 per square foot = (rounded to) VALUE BY SALE COMPARISON APPROACH $3,515,000 THREE MILLION FIVE HUNDRED FIFTEEN THOUSAND DOLLARS 68 513 CERTIFICATION I certify that, to the best of my knowledge and belief, the statements contained in this report are true and correct. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. My engagement in this assignment was not contingent upon developing or reporting predetermined results. My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. The analyses, opinions and conclusions were also developed and the report prepared in conformity with the Uniform Standards of Professional Appraisal Practice, which is included in the Appraisal Institute's Standards, and Chapter 475, Part II F.S. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. The use of this report is (also) subject to the requirements of the State of Florida relating to review by the Florida Real Estate Appraisal Board. I have visited the property that is the subject of this report on June 7, 2025. Jesse B. Vance, Jr. and Claudia Vance are responsible for the analyses, conclusions and opinions concerning real estate set forth in this report. No one else has provided significant professional service to the persons signing this certification. The Appraisal Institute and the American Society of Appraisers each conduct programs of continuing education for their designated members. As of the date of this report, Jesse B. Vance, Jr. and Claudia Vance have completed the continuing education program for Designated Members of the Appraisal Institute. Continuing education programs are also completed for the American Society of Appraisers and the State of Florida. June 13, 2025 Jesse B. Vance, Jr., MAI, SRA, ASA Florida State-Certified General Real Estate Appraiser No. RZ-85 June 13, 2025 Claudia Vance, MAI Florida State-Certified General Real Estate Appraiser No. RZ-173 69 514 CERTIFICATION AND LIMITING CONDITIONS The statements and conclusions contained in this report, subject to the limiting conditions hereafter cited, are correct to the best of the writers' knowledge. 1. The undersigned have personally inspected the subject of this report. No pertinent information has been knowingly withheld. 2. Unless specifically included, the subject is analyzed as though free and clear of liens and encumbrances. 3. No responsibility is assumed for legal matters, nor is an opinion of title rendered. Title is assumed to be good and held in Fee Simple, unless excepted. 4. Legal descriptions and property dimensions have been furnished by others; no responsibility for their correctness is assumed. Sketches which may be in the report are for illustrative purposes only. 5. Possession of any copy of this report does not carry with it the right of publication, duplication, or advertising using the writers’ names or professional designations or membership organizations. 6. The writers are not required to testify without prior agreement. 7. Neither the employment to make this appraisal nor compensation therefore is contingent on the value reported. 8. Where divisions are made between land, improvements, etc., the values estimated for each apply only under the cited use or uses. 9. The value applies ONLY as of the date of valuation stated within the report. 10. The writers certify that they have no present, past or contemplated interest in the subject of this report - unless specifically stated. 11. This report is the property of the indicated client. It may not be used by any other party for any purpose not consistent with the written function of this report without the express written consent of the writers AND client. 12. The reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Practice and Conduct of the Appraisal Institute. The work also conforms to the Uniform Standards of Professional Appraisal Practice. 13. Soil or sub-soil contamination may exist from current or prior users, or users outside the property concerned. The appraisers are not qualified to detect such substances. We urge the client to retain an expert in this field if desired. 14. The appraisers have not been provided a Habitat Survey, Endangered Species Survey, or analysis by a qualified environmental specialist indicating the presence of or proximity to environmentally sensitive and/or protected land or species which could affect the use, and possibly, value of the appraised property. The appraisers are not qualified to identify these factors. We recommend that an expert be hired where there may be reasonable cause to expect the presence of any of the cited elements. 15. Jesse B. Vance, Jr. and Claudia Vance are responsible for the analyses, conclusions, and opinions of real estate set forth in this report. No one else provided significant professional assistance to the signers of this report. 16. Prospective value is based on current conditions and trends. The appraisers cannot be held responsible for unforeseeable events which might alter market conditions upon which market value opinion has been developed. 17. The appraisers certify that they have the knowledge and experience required to perform this appraisal assignment. 18. The appraisers reserve the right to amend or change this report at any time additional market information is obtained which would significantly affect the value. Jesse B. Vance, Jr., MAI, SRA, ASA State-Certified General Real Estate Appraiser No. RZ 85 June 13, 2025 Claudia Vance, MAI State-Certified General Real Estate Appraiser No. RZ 173 June 13, 2025 70 515 ADDENDA 71 516 72 517 73 518 74 519 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X X ////////////////////////////146.70' (P)146.73' (M)´NEW PALM WAY15' W A L K (PLAT) OAK STREET LOT 13. H O M E S I T E (PLAT)PALM WAY (PLAT)R E S E R V E (PLAT) R E S E R V E (PLAT) 15' W A L K (PLAT)PALM WAY(PLAT)L A K E W O R T H(PLAT)146.70' (P)375.00' (P) 375.00' (P) ONE STORY RESIDENCE # 670 0SURVEYORS NOTES: (1). BEARINGS SHOWN HEREON ARE REFERENCED TO THE RECORD PLAT AND ARE ASSUMED. (2). LEGAL DESCRIPTION PROVIDED BY CLIENT UNLESS OTHERWISE NOTED. (3). NO UNDERGROUND IMPROVEMENTS LOCATED EXCEPT AS SHOWN. (4). THIS SURVEY WAS PREPARED WITHOUT THE BENEFIT OF A TITLE COMMITMENT THEREFOR THE ONLY SURVEY MATTERS SHOWN ARE PER THE RECORD PLAT. THERE MAY BE ADDITIONAL MATTERS OF RECORD, NOT SHOWN WHICH CAN BE FOUND IN THE PUBLIC RECORDS OF THE CORRESPONDING COUNTY OF RECORD. (5). ELEVATIONS SHOWN REFER TO N.A.V.D. 88 AND WERE OBTAINED WITH GPS. LEGAL DESCRIPTION: THAT TRACT OF LAND MARKED ON W.S. SHEPARD'S PLAT OF THE SUBDIVISION OF THE SOUTH 1/2 OF FRACTIONAL SECTION 15, TOWNSHIP 45 SOUTH, RANGE 43 EAST, SAID PLAT BEING ON RECORD IN PALM BEACH COUNTY, FLORIDA, IN PLAT BOOK 8, PAGE 8, AND THE LAND BEING MARKED ON SAID PLAT "RESERVE" LYING EAST OF LOT 1, BLOCK 2, AND EXTENDING TO LAKE WORTH AND BEING 146.7 FEET NORTH AND SOUTH AND 400 FEET EAST AND WEST, MORE OR LESS, EXTENDING TO LAKE WORTH AND ALL RIPARIAN RIGHTS, LESS THE WEST 25 FEET THEREOF. ALSO THAT CERTAIN TRACT OF LAND BETWEEN THE NORTH AND SOUTH BOUNDARY LINES OF THE AFORESAID PARCELS OF LAND REFERRED TO HEREIN AS "RESERVE", SAID LAND BEING DESCRIBED AND DEDICATED AS PALM WAY ON THE AFOREMENTIONED W.S. SHEPARD'S PLAT. DATE OF FIRM: 12/20/2024 PANEL & SUFFIX: 0791 G COMMUNITY #: 120196 ZONE: AE 10FT (NAVD 88)PROPERTY ADDRESS: 670 OAK STREET, BOYNTON BEACH, FL 33435 DATE: SHEET # 1 OF 1 GL-12139 CHECKED BY: JSP CADD: J.A. SCALE: 1" = 30'FLOOD ZONE DATA:REVISIONS:Sketch of Survey GENERAL LEGEND: BCR = BROWARD COUNTY RECORDS BM = BENCHMARK CB = CATCH BASIN C/L = CENTERLINE CLF = CHAINLINK FENCE CLP = CONCRETE LIGHT POLE CBS = CONCRETE BLOCK STRUCTURE CONC = CONCRETE C/S = CONCRETE SLAB DE = DRAINAGE EASEMENT D = DELTA (CENTRAL ANGLE) E = EAST ELE = ELEVATION X 0.00' = EXISTING ELEVATION EOP = EDGE OF PAVEMENT EOW = EDGE OF WATER FF = FINISHED FLOOR FH = FIRE HYDRANT FN = FOUND NAIL INV = INVERT FIP = FOUND IRON PIPE FIR = FOUND IRON ROD FND = FOUND NAIL AND DISC L = ARC LENGTH MDCR = MIAMI DADE COUNTY RECORDS N = NORTH N/D = NAIL AND DISC MF = METAL FENCE ORB = OFFICIAL RECORDS BOOK O/S = OFFSET PB = PLAT BOOK PBCR = PALM BEACH RECORDS PC = POINT OF CURVATURE PG = PAGE PL = PROPERTY LINE POB = POINT OF BEGINNING POC = POINT OF COMMENCEMENT PVCF = PLASTIC FENCE R = RADIUS R/W = RIGHT OF WAY S = SOUTH S/W = SIDEWALK SIR = SET 1/2" IRON ROD SND = SET NAIL & DISC UE = UTILITY EASEMENT UP = UTILITY POLE W = WEST W/F = WOOD FENCE W/M = WATER METER JULIO S. PITA, P.L.S DATE PROFESSIONAL LAND SURVEYOR LICENSE No. LS 5789 STATE OF FLORIDA CERTIFIED TO: CERTIFICATION OF BOUNDARY SURVEY: I HEREBY CERTIFY THAT THIS SURVEY WAS MADE UNDER MY RESPONSIBLE CHARGE AND TO THE BEST OF MY KNOWLEDGE AND BELIEF; THIS SURVEY MEETS THE MINIMUM TECHNICAL STANDARDS AS SET FORTH BY THE BOARD OF PROFESSIONAL LAND SURVEYORS IN CHAPTER 5J-17.050 TO 17.052 FLORIDA ADINISTRATIVE CODE PURSUANT TO SECTION 472.027, FLORIDA STATUTES. GAVY & ASSOCIATES, INC LAND SURVEYORS LB # 6971 2657 S.W. 145th AVENUE MIAMI, FL. 33175 PHONE: (305) 748 6507 1. CANEPA DEBORAH & 2. PICARDY SCOTT E 3. GOEBEL, LAUREN = UTILITY POLE 12/9/2024 75 520 XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX X X X X X X X X X X X X X X X X X X X X X ////////////////146.70' (P)146.73' (M)´NEW PALM WAY15' W A L K (PLAT) OAK STREET LOT 13. H O M E S I T E (PLAT)PALM WAY (PLAT)R E S E R V E (PLAT) R E S E R V E (PLAT) 15' W A L K (PLAT)PALM WAY(PLAT)L A K E W O R T H(PLAT)146.70' (P)375.00' (P) 375.00' (P) ONE STORY RESIDENCE # 670 ROW ABANDONMENT FUTURE PARK (WITH ROW ABANDONMENT) FUTURE PARK FUTURE HOME SITE NORTH 76 521 670 OAK STBOYNTON BEACH, FL 33435INTRACOASTAL WATERWAY-101 1112 2 2223 33333333344 4444445 5556 667OAK STREETDILAPIDATED WOOD DOCK (TYP)12INCH CONCRETE PILING (TYP)HARVEY E. OYER JR. PARKPROJECT LOCATIONSHEETCERTIFICATION:PREPARED FOR:JOSHUA LEE, PSMFLORIDA REGISTRATION LS7322 - CERTIFICATE OF AUTHORIZATION NO. 7324LAUREN GOEBEL (RICHTER)670 OAK STREETBOYNTON BEACH, FL 334351of 1DRAWN BY: CE CHECKED BY: JLJOB No.: 24-1954DATE: 11/21/24REV DESCRIPTION DATEBATHYMETRIC SURVEYHYDROGRAPHIC DATA ARE RELATIVE TO MEANLOW WATER AND REFERENCED TO FLORIDADEPARTMENT OF ENVIRONMENTAL PROTECTIONTIDE STATION NUMBER 872-2706.CONTOURS ARE AT 1' INTERVALS.SURVEY NOTES:1. THIS IS A BATHYMETRIC SURVEY AS DEFINED IN THE STANDARDS OF PRACTICE FOR SURVEYING AND MAPPING INCHAPTER 5J-17 FLORIDA ADMINISTRATIVE CODE.2. THIS SURVEY WAS CONDUCTED ON NOVEMBER 18, 20243. REFER TO SURVEY NO. 24-19544. THIS SURVEY IS CERTIFIED TO LAUREN GOEBEL (RICHTER)5. THIS SURVEY IS INTENDED EXCLUSIVELY FOR THE USE BY THOSE TO WHOM IT IS CERTIFIED. IT IS NOT TO BE USEDBY OTHERS FOR CONSTRUCTION, PERMITTING, DESIGN OR ANY OTHER USE WITHOUT THE WRITTEN CONSENT OFTERRAQUATIC, INC.6. THIS SURVEY, AND ANY REPRODUCTION THEREOF, IS NOT VALID WITHOUT AN ORIGINAL OR VERIFIED DIGITALSIGNATURE AND SEAL OF A FLORIDA REGISTERED SURVEYOR. ADDITIONALLY, THIS SURVEY IS NOT VALID IFPRINTED BEARING A DIGITAL SIGNATURE AND SEAL.7. THIS MAP IS INTENDED TO BE DISPLAYED AT A SCALE OF ONE INCH EQUALS FORTY FEET OR SMALLER.8. UNDERGROUND UTILITIES WERE NOT LOCATED AS PART OF THIS SURVEY.9. GEOGRAPHIC AND PLANE COORDINATES SHOWN HERON ARE RELATIVE TO THE NORTH AMERICA DATUM OF1983, 1990 ADJUSTMENT (NAD 83/90), FLORIDA STATE PLANE, EAST ZONE (0901), TRANSVERSE MERCATORPROJECTION IN THE U.S. SURVEY FOOT UNIT OF MEASUREMENT.10. LOCATIONS OF ALL IMPROVEMENTS WERE OBTAINED USING REAL TIME KINEMATIC GPS METHODOLOGIES WITHBROADCAST CORRECTIONS FROM THE FLORIDA DEPARTMENT OF TRANSPORTATION’S VIRTUAL REFERENCENETWORK AND ARE ACCURATE TO THIRD ORDER, CLASS II.11. THE SPECIFIC PURPOSE OF THIS SURVEY IS TO SHOW THE LOCATION OF PROPOSED IMPROVEMENTS RELATIVE TOTHE INTRACOASTAL WATERWAY NAVIGATION CHANNEL.12. HYDROGRAPHIC (BATHYMETRIC) DATA WERE COLLECTED UTILIZING AN ODOM CV100 SURVEY GRADE SOUNDERWITH A 200KHZ TRANSDUCER IN CONJUNCTION WITH REAL TIME KINEMATIC GPS METHODOLOGIES WITHBROADCAST CORRECTIONS FROM A CONVENTIONAL GPS BASE STATION AND ARE ACCURATE TO THIRD ORDER,CLASS II.13. HYDROGRAPHIC DATA ARE IN FEET RELATIVE TO MEAN LOW WATER AND REFERENCED TO FLORIDADEPARTMENT OF ENVIRONMENTAL PROTECTION TIDE STATION 872-2706 (PALM BEACH COUNTY).14. CONTOURS SHOWN HEREON WERE COMPUTER GENERATED AND INTERPOLATED FROM SURVEY DATACOLLECTED ALONG TWENTY-FIVE FOOT (25') SPACED TRANSECTS AND CAN ONLY BE CONSIDERED AS INDICATINGTHE GENERAL SEAFLOOR CONDITIONS EXISTING AT THE TIME OF THE SURVEY.15. DEPTHS SHOWN HEREON ARE BELOW THE REFERENCE PLANE UNLESS PRECEDED BY A PLUS (+). FLORIDAVICINITY MAPSNOT TO SCALEINTRACOASTAL WATERWAYOAK STPROJECTLOCATIONSURVEY SITENWESHORIZONTAL SCALE: 1" = 40'80'40'20'0'BATHYMETRIC SURVEY670 OAK STREETCONTOUR CHARTBOYNTON BEACH - PALM BEACH COUNTY, FLORIDACERTIFICATION:I HEREBY CERTIFY THAT THE ATTACHED BATHYMETRIC SURVEY IS TRUEAND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF ASSURVEYED UNDER MY DIRECTION ON NOVEMBER 18, 2024. I FURTHERCERTIFY THAT THIS SPECIFIC PURPOSE SURVEY MEETS THE STANDARDSOF PRACTICE AS SET FORTH IN CHAPTER 5J-17 ADOPTED BY THEFLORIDA BOARD OF SURVEYORS AND MAPPERS PURSUANT TOFLORIDA STATUTE 472.027.1220 TANGELO TERR, UNIT A12, DELRAY BEACH, FLORIDA 33444 TERRAQUATIC, INC. | PHONE: (561) 806-6085LOCATION MAPVICINITY MAPDRAWING: 670 OAK STREET.dwgLOCAL VERTICAL DATUM DIAGRAMNAVD-88MLW-2.16'MHW+0.31'-3'-2'-1'-0'0'1'2'3'4'5'6'7'MEAN LOW WATER DEPTHS IN FEET LEGEND:APX APPROXIMATE℄CENTERLINELB LICENSED BUSINESSPSM PROFESSIONAL SURVEYOR AND MAPPERMLW MEAN LOW WATERNAVD-88 NORTH AMERICAN VERTICAL DATUM OF 1988NGVD-29 NATIONAL GEODETIC VERTICAL DATUM OF 1929TYP TYPICALMHW MEAN HIGH WATERNL/D NAIL AND DISKFND FOUNDELEV ELEVATION77522 AERIAL VIEW OF THE APPRAISED PROPERTY ON THE NATIONAL WETLAND INVENTORY MAP 78 523 APPRAISED PROPERTY BATHYMETRIC SURVEY EXCERPT 79 524 80 525 F. R-3 Multi-family Residential District. 1. General. The purpose of the R-3 zoning district is to implement the medium density residential (MDR) future land use map (FLUM) classifications of the Comprehensive Plan. The intent of this conventional district, with a maximum density of eleven (11) dwelling units per acre, is to encourage vertical structures and viable multiple-family living environments. The preferred development pattern shall be designed such that it would provide adequate buffering, graduation of uses, and a layout that considers and complements adjacent uses and districts. Ideally, the R-3 district should be in close proximity to large concentrations of business and employment activities, as well as near sufficient roadways and public transportation routes. Site design should encourage safe traffic patterns, ingress and egress, adequate light, drainage, off-street parking, open space, on-site recreation areas, and community meeting provisions for the inhabitants. 2. Use(s) Allowed. See "Use Matrix Table 3-28" in Chapter 3, Article IV, Section 3.D. 3. Building and Site Regulations (Table 3-10). a. Existing and/or future single-family dwellings shall conform to the building and site regulations of the R-1 district (see Table 3-8 in Section 2.D.3. above). b. Duplex dwellings shall conform to the building and site regulations of the R-2 district (see Table 3-9 in Section 2.E.3. above). c. Multiple-family and group homes shall conform to the lot and building requirements of that portion of Table 3-10 below pertaining to "residential uses". d. All uses, excluding single-family, duplex, multi-family, and group homes, shall conform to the lot and building requirements of that portion of Table 3-10 below pertaining to "non-residential uses". BUILDING/SITE REGULATIONS R-3 District BUILDING/SITE REGULATIONS R-3 District (Residential Uses) Minimum lot area (per unit): 4,000 s.f. Minimum lot frontage: 100 feet Minimum yard setbacks: Front: 40 feet Rear: 40 feet Interior side: 20 feet Corner side: 40 feet 81 526 Minimum living area: 750 s.f. Maximum lot coverage: 40% Maximum structure height: 45 feet (Non-Residential Uses) Minimum lot area: 20,000 s.f. Minimum lot frontage: 100 feet Minimum yard setbacks: Front: 40 feet Rear: 40 feet Interior side: 20 feet Corner side: 40 feet Minimum living area: 750 sq. ft. per unit Maximum lot coverage: 40% Maximum structure height: 45 feet 4. Accessory Structures. Walls, fences, pools, sheds, screen-roof enclosures, and other structures are regulated in accordance with Chapter 3, Article V, Supplemental Regulations. 82 527 83 528 84 529 85 530 SUMMARY OF USPAP (Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. STANDARD 2 addresses the content and level of information required in a report that communicates the results of the real property appraisal. STANDARD 2 does not dictate the form, format, or style of real property appraisal reports. The substantive content of a report determines its compliance. STANDARDS RULE 2-1 Each written or oral real property appraisal report m ust: (a) clearly and accurately set forth the appraisal in a manner that will not be misleading; (b) contain sufficient information to enable the intended users of the appraisal to understand the report properly; and (c) clearly and accurately disclose all assumptions, extraordinary assumptions, hypothetical conditions, and limiting conditions used in the assignment. STANDARDS RULE 2-2 Each written real property appraisal report m ust be prepared under one of the following options and prominently state which option is used: Appraisal Report or Restricted Appraisal Report. An appraiser may use any other label in addition to, but not in place of, the labels set forth in this Standards Rule for the type of report produced. The use of additional labels such as analysis, consultation, evaluation, study, or valuation does not exempt an appraiser from adherence to USPAP. The report content and level of information requirements in this Standards Rule are minimal for each type of report. An appraiser must supplement a report form, when necessary, to insure that any intended user of the appraisal is not misled and that the report complies with the applicable content requirements. (a) The content of an appraisal report must be appropriate for the intended use or the appraisal and, at a minimum: (i) state the identity of the client, or if the client requested anonymity, state that the identity is withheld at the client’s request but is retained in the appraiser’s workfile; (ii) state the identity of any other intended users by name or type; (iii) state the intended use of the appraisal; (iv) contain information, documents, and/or exhibits sufficient to identify the real estate involved in the appraisal, including the physical, legal, and economic property characteristics relevant to the assignment; (v) state the real property interest appraised; (vi) state the type and definition of value and cite the source of the definition; (vii) state the effective date of the appraisal and the date of the report; (viii) summarize the scope of work used to develop the appraisal; (ix) summarize the extent of any significant real property appraisal assistance; 86 531 SUMMARY OF USPAP (Uniform Standards of Professional Appraisal Practice) Standard Rule 2: Real Property Appraisal, Reporting (x) provide sufficient information to indicate that the appraiser complied with the requirements of STANDARD 1 by: (1) summarizing the appraisal methods and techniques employed; (2) stating the reasons for excluding the sales comparison, cost, or income approach(es) if any have not been developed; (3) summarizing the results of analyzing the subject sales, options, and listings in accordance with Standards Rule 1-5; (4) stating the value opinion(s) and conclusions(s); and (5) summarizing the information analyzed and the reasoning that supports the analyses opinions, and conclusions, including reconciliation of the data and approaches; (xi) state the use of the real estate existing as of the effective date and the use of the real estate reflected in the appraisal; (xii) when an opinion of highest and best use was developed by the appraiser, state that opinion and summarize the support and rationale for that opinion; (xiii) clearly and conspicuously: • state all extraordinary assumptions and hypothetical conditions, and • state that their use might have affected the assignment results, and (xiv) include a signed certification in accordance with Standards Rule 2-1. STANDARDS RULE 1-5 When the value opinion to be developed is market value, if such information is available in the normal course of business: a) analyze all agreements of sale, options, or listings of the subject property current as of the effective date of the appraisal; b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. 87 532 475.611 Florida Statutes: Definitions.- (1) As used in this part, the term: (a) “Appraisal” or “Appraisal Services” means the services provided by certified and licensed appraisers or registered trainee appraisers, and includes: 1. "Appraisal assi gnment" denotes an engagement for which a person is employed or retained to act, or coul d be perceived by third parties or the public as acting, as an agent or a disinterested third party in rendering an unbiased analysis, opinion, review, or conclusion relating to the nature, quality, val ue, or utility of specified interests in, or aspects of, identified real property. 2. "Analysis assi gnment" denotes appraisal services that relate to the employer's or client's individual needs or investment objectives and incl udes specialized marketi ng, financing, and feasibility studies as well as analyses, opinions, and conclusions given in connection with activities such as real estate brokerage, mortgage banking, real estate counseling, or real estate consulting. 3. "Appraisal review assignment" denotes an engagement for which an appraiser is employed or retai ned to develop and communicate an opinion about the quality of another appraiser's appraisal, appraisal report, or work. An appraisal review may or may not contain the reviewing appraiser's opinion of value. (b) "Appraisal Foundation" or "foundation" me ans the Appraisal Foundation established on November 20, 1987, as a not-for-profit corporation under the laws of Illinois. (c) "Appraisal report" means any communicati on, written or oral, of an appraisal, appraisal review, appraisal consulting service, analysis, opini on, or conclusion relating to the nature, quality, val ue, or utility of a specified interest in, or aspect of, identified real property, and includes any report communicating an appraisal analysi s, opinion, or conclusion of value, regardless of title. However, in order to be recognized in a federally related transaction, an appraisal report must be wri tten. (d) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's appraisal, appraisal report, or work. (e) "Appraisal subcommittee" means the designees of the heads of the federal financial institutions regulatory agencies established by the Federal Financi al Institutions Exami nation Council Act of 1978 (12 U.S.C. ss. 3301 et seq.), as amended. (f) "Appraiser" means any person who i s a registered trainee real estate appraiser, licensed real estate appraiser, or a certified real estate appraiser. An appraiser renders a professional service and is a professional within the meaning of 95.11(4)(a). (g) "Board" means the Fl orida Real Estate Appraisal Board established under thi s section. (h) “Certified General Appraiser” means a person who is certified by the department as qualified to issue appraisal reports for any type of real property (i) "Certified Residential Appraiser" means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four resi dential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulati on. (j) "Department" means the Department of Busi ness and Professi onal Regulati on. 88 533 2020 FLORIDA STATUTES 475.628 Professional standards for appraisers registered, licensed, or certified under this part.— (1) The board shall adopt rules establishing standards of professional practice which meet or exceed nationally recognized standards of appraisal practice, including standards adopted by the Appraisal Standards Board of the Appraisal Foundation. Each appraiser registered, licensed, or certified under this part must comply with the rules. Statements on appraisal standards which may be issued for the purpose of clarification, interpretation, explanation, or elaboration through the Appraisal Foundation are binding on any appraiser registered, licensed, or certified under this part, upon adoption by rule of the board. (2) The board may adopt rules establishing standards of professional practice other than standards adopted by the Appraisal Standards Board of the Appraisal Foundation for nonfederally related transactions. The board shall require that when performing an appraisal or appraisal service for any purpose other than a federally related transaction, an appraiser must comply with the Ethics and Competency Rules of the standards adopted by the Appraisal Standards Board of the Appraisal Foundation, and other requirements as determined by rule of the board. An assignment completed using alternate standards does not satisfy the experience requirements under s. 475.617 unless the assignment complies with the standards adopted by the Appraisal Standards Board of the Appraisal Foundation. History.—ss. 9, 11, ch. 91-89; s. 4, ch. 91-429; s. 35, ch. 98-250; s. 22, ch. 2012-61; s. 9, ch. 2017-30. Title XXXII REGULATION OF PROFESSIONS AND OCCUPATIONS Chapter 475 REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERS View Entire Chapter 89 534 Jesse B. Vance, Jr., MAI, SRA, ASA, MBA Appraiser · Real Estate Analyst · Reviewer · Expert Witness Vance Real Estate Service · 7481 NW 4 Street · Plantation · Florida · 33317 Office: 954·583·2116; Cell: 954·610·2423; Email: vanceval@comcast.net Web Page: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 45 years. Designated appraisers perform the appraisal work, no trainees. Jesse B. Vance, Jr., MAI, SRA, ASA, MBA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, bankruptcies, deficiency judgments, marriage dissolution, and estate valuations. Our firm values most types of real property interests for sale, mortgage loans, litigation and investment reasonably, timely and professionally. As licensed real estate brokers, we perform most other real property functions. We also do “Valuations for Financial Reporting.” PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ DEGREES/ LICENSES & CERTIFICATIONS MAI DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 SRA DESIGNATION - APPRAISAL INSTITUTE/Life Member No. 8781 ASA DESIGNATION - AMERICAN SOCIETY OF APPRAISERS (RE-Urban) #003439 MBA DEGREE - REAL ESTATE MANAGEMENT AND DEVELOPMENT STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER #RZ-85 (Florida) FLORIDA STATE LICENSED REAL ESTATE BROKER NO. BK. 91050 REGISTERED VETERAN-OWNED SMALL BUSINESS (CCR/Duns 826494957) FLORIDA CERTIFIED SDVBE BUSINESS ENTERPRISE (Minority Business Enterprise - MBE) FLORIDA “D.E.P.” APPROVED APPRAISER B) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION 1. U.S. Court of Appeals, Eleventh Circuit 2. U.S. District Court, Southern District of South Florida 3. U.S. District Court, New Jersey 4. U.S. Bankruptcy Court, Southern District of Florida 5. U.S. Bankruptcy Court, District of New Jersey 6. U.S. Bankruptcy Court, Western (Pittsburgh) Division of Pennsylvania 7. Florida Circuit Courts: Broward, Dade, Palm Beach, Lee, Collier, Martin, and Okeechobee Counties 8. Appraiser on landmark eminent domain cases: TESSLER, NESS TRAILER PARK, PATEL, SIMPSON v. FILLICHIO, RUBANO, PALM BEACH COUNTY (FL) vs. COVE CLUB INVESTORS, LTD. C) EXPERIENCE Over thirty-five (35) years appraising and analyzing real property interests in South Florida. Partial list: RESIDENCES, RESTAURANTS/BARS, APARTMENT BUILDINGS, OFFICE BUILDINGS HOTELS/MOTELS, CHURCHES, CONDOMINIUMS/COOPS, HOSPITALS & NURSING HOMES, VACANT LAND, GOLF COURSES, GOLF CLUBS, GASOLINE SERVICE STATIONS, MARINAS, TRAILER PARKS, SHOPPING CENTERS, BANKS/THRIFT INSTITUTIONS, BOWLING ALLEYS, P.U.D.'S, INDUSTRIAL BUILDINGS, TIME-SHARE DEVELOPMENTS, ROCK PITS, SCHOOLS, AGRICULTURAL PROPERTIES, WATER MANAGEMENT DISTRICT, MARKETABILITY, FEASIBILITY ANALYSES, INVESTMENT ANALYSES, AUTO SALES FACILITIES, LEASE VALUATIONS, TAX & ASSESSMENT APPEALS, CONDEMNATION, EXPERT WITNESS (Member National Forensic Center), BUSINESS ENTERPRISE VALUATIONS (BEV), (VFR) VALUATION FOR FINANCIAL REPORTING, AVIGATION & CLEARANCE EASEMENTS, ESTATES, DIVORCES, PLANNING/LAND USE STUDIES, HIGHEST & BEST USE ANALYSES, DEPRECIATION ANALYSES, COMPONENT APPRAISALS, ENVIRONMENTALLY SENSITIVE LAND, CONTAMINATED PROPERTIES, SUGARCANE & TURFGRASS LAND, DAY CARE CENTERS, SELF-STORAGE FACILITIES, FUNERAL HOMES, ANIMAL HOSPITALS, SUBMERGED LAND, CITY CENTERS, etc. 90 535 D) PARTIAL LIST OF CLIENTS PRIVATE INDIVIDUALS AND CORPORATIONS, ATTORNEYS, ACCOUNTANTS, TRUST DEPARTMENTS, COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; American National Bank; Landmark Bank; City National Bank; BankUnited; Gateway American Bank; State Farm Bank; Englewood Bank & Trust; SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES; FLORIDA CITIES: FORT LAUDERDALE, PLANTATION, COOPER CITY, TAMARAC, LAUDERHILL, BOCA RATON, DEERFIELD BEACH, OAKLAND PARK, WILTON MANORS, HOLLYWOOD, WEST PALM BEACH, DELRAY BEACH, HALLANDALE, PEMBROKE PINES, COOPER CITY, TOWN OF DAVIE, TOWN OF SOUTHWEST RANCHES, MIRAMAR. FLORIDA COUNTIES: BROWARD, PALM BEACH, COLLIER, OKEECHOBEE; BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS; OKEECHOBEE BOARD OF COUNTY COMMISSIONERS. SCHOOL BOARD OF BROWARD COUNTY, FLORIDA, BROWARD COUNTY HOUSING AUTHORITY, STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION (DOT); STATE OF FLORIDA DIVISION OF GENERAL SERVICES(GSA); N. BROWARD GENERAL HOSPITAL DISTRICT; STATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION (Approved Vendor);U.S. TREASURY DEPARTMENT (General Counsel, I.R.S.); U.S. MARSHAL'S SERVICE – U.S. ATTORNEY’S OFFICE CENTRAL DIVISION – U.S. Dept. of Justice; VETERANS ADMINISTRATION E) EDUCATIONAL BACKGROUND - (Partial List) ACADEMIC: BACHELOR OF ARTS - Earlham College, Richmond, Indiana (1954) MBA (Nova University) - Real Estate Management & Development (National Dean's List 1991) Professional: Qualifying courses for the SRA and SREA designations from the Society of Real Estate Appraisers Qualifying courses for the MAI designation from the Appraisal Institute F) APPRAISAL TEACHING EXPERIENCE Licensed by the Florida Department of Education to Teach (Certificate No. 275236). Authored and taught Residential and Commercial Real Estate Appraisal Courses for Broward County Adult Education Program. Taught Course 101 - Society of Real Estate Appraisers. Taught Course 201 - Society of Real Estate Appraisers. Taught Appraisal Seminars - Board of Realtors, ASA, SREA, and AI (Appraisal Institute). Adjunct Professor, University of Florida Division of Continuing Education: (taught Course 2, "Real Estate Principles and Practices" to prospective Florida Real Estate Brokers). G) PROFESSIONAL OFFICES HELD/AWARDS NATIONAL B.O.D. MEMBER - BOARD OF DIRECTORS of APPRAISAL INSTITUTE (2006- 2008) AWARD - Appraisal Institute “NATIONAL PRESIDENTS AWARD” 2008 AWARD - Appraisal Institute “LIFETIME ACHIEVEMENT AWARD” 2011 For “high ethical standards, contributions to the Appraisal Institute, Community and Appraisal Profession for at least 20 years.” CHAIR - REGION X - All of Florida - Appraisal Institute (2008) VICE-CHAIR - REGION X - All of Florida - Appraisal Institute (2007) THIRD DIRECTOR - REGION X - All of Florida - Appraisal Institute (2006) FINANCE OFFICER - REGION X – All of Florida – Appraisal Institute (2006) PRESIDENT - BROWARD COUNTY, SOCIETY OF REAL ESTATE APPRAISERS PRESIDENT - BROWARD COUNTY, AMERICAN SOCIETY OF APPRAISERS CHAIR - FLA. STATE GOVERNMENT RELATIONS SUBCOMMITTEE OF AI CHAIR - FLA. STATE LEGISLATION & REGULATION SUBCOMMITTEE OF AI G) PROFESSIONAL OFFICES HELD/AWARDS CHAIR - FLORIDA REALTORS COMMITTEE ON COMMITTEE REFORMS CHAIR - EDUCATION COMMITTEE, FT. LAUDERDALE CHAPTER AI CHAIR - CANDIDATES GUIDANCE COMMITTEE, FT .LAUDERDALE CHAPTER AI CHAIR - NATIONAL Valuation for Financial Reporting PROJECT TEAM OF AI VICE CHAIR & MEMBER - NATIONAL GOVERNMENT RELATIONS COMMITTEE OF AI (15 Years) MEMBER - NATIONAL LONG RANGE PLANNING COMMITTEE OF AI MEMBER - NATIONAL PUBLIC AFFAIRS COMMITTEE OF AI DIRECTOR - REGION X (Florida ) Appraisal Institute MEMBER - REGION X (FLORIDA) ETHICS AND COUNSELING PANEL 91 536 DIRECTOR - BROWARD COUNTY, FLORIDA SOCIETY OF REAL ESTATE APPRAISERS DIRECTOR - SOUTH FLORIDA CHAPTER AMERICAN SOCIETY OF APPRAISERS MEMBER - NATIONAL EXPERIENCE REVIEW PANEL MEMBER OF AI SPECIAL MASTER - BROWARD COUNTY BOARD OF TAX ADJUSTMENT COMMISSIONER - 17TH JUDICIAL CIRCUIT COURT, Broward County, FL MEMBER - 2013 APPRAISAL INSTITUTE NATIONAL BUSVAL PROJECT TEAM H) PROFESSIONAL PUBLICATIONS & PRESENTATIONS Wrote and taught a basic Residential Appraisal Course for the Broward County Adult Education Div. of the Dept. of Education; Wrote and taught an Income Appraisal Course for the Broward County Adult Education Division of the Department of Education; Co-authored and taught an appraisal course on Mortgage-Equity Capitalization for the American Society of Appraisers. Authored and taught a Florida State and Appraisal Institute 3-hour accredited course in "The Legislation, Regulation and Appraisal of Real Property Rights in Florida September 7, 1996. Presentation on “Gramm-Leach -Bliley” Federal Privacy Act of 1999 for South Florida Chapter of American Society of Appraisers on October 24, 2001. Presented 3-hour Florida CEU-credit seminar on “Appraisers and the Gramm-Leach-Bliley Act” before the South Florida Chapter of the Appraisal Institute on July 27, 2002. Presenter at 6.5 Hour CLE-credit Attorney Seminar on Florida Eminent Domain, “Valuation and Damage Issues” February 2, 2006, Fort Lauderdale, Florida I) CIVIC INVOLVEMENT MEMBER OF ROTARY INTERNATIONAL / PAUL HARRIS FELLOW MEMBER OF THE GREATER FORT LAUDERDALE OPERA GUILD MEMBER FLORIDA PHILHARMONIC BROWARD TRUSTEES MEMBER OF THE BROWARD COUNTY LIBRARY SUPPORT GROUP ("BYBLOS") MEMBER CIRCLE OF FRIENDS – NOVA SOUTHEASTERN LIBRARY FOUNDATION MEMBER NOVA SOUTHEASTERN UNIVERSITY ALUMNI ASSOCIATION MEMBER OF THE FORT LAUDERDALE HISTORICAL SOCIETY MEMBER OF THE BROWARD COUNTY MUSEUM OF THE ARTS MEMBER OF THE FORT LAUDERDALE / BROWARD COUNTY CHAMBER OF COMMERCE MEMBER OF THE BETTER BUSINESS BUREAU OF SOUTH FLORIDA LIFETIME HONORARY MEMBER FLORIDA SHERIFF’S ASSOCIATION MEMBER NATIONAL & FT. LAUDERDALE COUNCILS U.S. NAVY LEAGUE U.S. ARMY VETERAN WWII (RA 17212681) - HONORABLE DISCHARGE 1949 92 537 Claudia Vance, MAI Appraiser · Real Estate Analyst · Reviewer Vance Real Estate Service · 7481 NW 4 Street · Plantation · FL · 33317 Office: 954·583·2116 Cell: 954·647·7148 Email: vanceval@att.net Web Site: www.vancerealestateservice.com Vance Real Estate Service is a Veteran-Owned Small Business (VOSB) and Florida Certified SDVBE Minority Business Enterprise specializing in personalized real estate valuation services in Florida for over 40 years. Designated appraisers perform the appraisal work, no trainees. Our appraisals are used for financial/ mortgage loan purposes from large mixed use complexes to small owner - occupied properties. We have the qualifications for appraisals submitted to SBA. Jesse B. Vance, Jr., MAI, SRA, ASA and Claudia Vance, MAI are qualified as expert witnesses for eminent domain, deficiency judgments, marriage dissolution, and estates. Our firm values most types of real property interests, timely, professionally, and at competitive costs. PROFESSIONAL QUALIFICATIONS A) PROFESSIONAL DESIGNATIONS/ LICENSES MAI Designation - APPRAISAL INSTITUTE No. 9451 State-Certified General Real Estate Appraiser No. RZ-173 Florida State Licensed Real Estate Broker No. BK 0161305 VOSB Veteran-Owned Small Business (CCR/Duns 826494957) B) WORK HISTORY 1983 - Current Vice President - Vance Real Estate Service 1981 – 1983 President - The Appraisal Company, Fort Lauderdale, Florida C) QUALIFIED AS AN EXPERT WITNESS IN REAL ESTATE VALUATION U.S. Bankruptcy Court, Southern District of Florida Florida Circuit Court: Broward County D) PROFESSIONAL DEVELOPMENT PROGRAM REGISTRIES Valuation of Sustainable Buildings: Commercial Valuation of Sustainable Buildings: Residential E) EXPERIENCE: 40+years appraising and analyzing real property interests in South Florida. F) APPRAISER SPECIAL MAGISTRATE FOR THE BROWARD CO VALUE ADJUSTMENT BOARD 2002-2010 Partial list of real property types valued: High value residences, Condominiums/ Co -operatives, Office, Industrial, Multi-family, Restaurants/ bars, Auto dealerships, City Centers, Hotels/ motels, Houses of worship, Schools, Child care centers, Self-storage, Funeral home, Animal Hospital, Mixed use, Nursing homes, Gas sales stations, Marinas, Mobile home parks, Shopping centers, Country clubs/ golf courses, Financial institutions, Bowling centers, Vacant land, Agricultural properties, Environmentally sensitive land Types of Reports: Market Value, Eminent Domain, Marketability, Feasibility, Highest and Best Use, Investment Analyses, Partial Interests, Easement Valuations, Estate planning, Marriage dissolution, Land use studies, Damage/ Contamination studies 93 538 G) PARTIAL LIST OF CLIENTS – PRIVATE: Individuals, Corporations, Attorneys, Accountants, Habitat for Humanity, Seminole Tribe of Florida COMMERCIAL BANKS: Wells Fargo; BankAtlantic; SunTrust; Citigroup; Space Coast Credit Union; State Farm Bank; Florida Shores Bank; American National Bank; Landmark Bank; City National Bank; Evermore Bank National Bank SAVINGS & LOANS, INSURANCE COMPANIES, REAL ESTATE INVESTMENT TRUSTS, & REAL ESTATE TRANSFER COMPANIES, TITLE INSURANCE COMPANIES FLORIDA CITIES: Fort Lauderdale, Plantation, Cooper City, Deerfield Beach, Tamarac, Oakland Park, Wilton Manors, North Lauderdale, Davie, Pembroke Pines, Hallandale Beach, Lauderhill, Southwest Ranches, Miramar, Boca Raton, Boynton Beach, West Palm Beach, Delray Beach FLORIDA COUNTIES and AGENCIES: Broward, Palm Beach, Broward County Board of County Commissioners, School Board of Broward County, Broward County Housing Authority, Fort Lauderdale Community Redevelopment Agency, Boynton Beach Community Redevelopment Agency STATE OF FLORIDA Department of Transportation (FDOT), Department of Environmental Protection U.S. Department of Veterans Affairs, U.S. Department of Treasury (IRS), U.S Marshall’s Service, U.S. Attorney H) EDUCATIONAL BACKGROUND Academic: Bachelor of Arts Degree – University of New Orleans, New Orleans, LA – Major: English Professional: Qualifying courses for the MAI designation I) PROFESSIONAL INVOLVEMENT Region X Representative of the Appraisal Institute 2006 – 2009 President of the South Florida Chapter of the Appraisal Institute - 2003 First Vice-President of the South Florida Chapter of the Appraisal Institute -2002 Second Vice-President of the South Florida Chapter of the Appraisal Institute -2001 Secretary of the South Florida Chapter of the Appraisal Institute -2000 Treasurer of the South Florida Chapter of the Appraisal Institute - 1999 Chair of the Education Committee of the S. Florida Chapter of the Appraisal Institute - 1995, 1996, 1997, 1998, 2007- 2018 Director of the South Florida Chapter of the Appraisal Institute 1996 - 1998 Member of Region X (Florida) Ethics and Counseling Panel –AI Newsletter Editor of the South Florida Chapter of the Appraisal Institute – 2020-current Graduate of the Florida REALTORS Institute (GRI) J) CIVIC INVOLVEMENT Member of the Navy League of the United States – Fort Lauderdale Council Lifetime Honorary Member- Florida Sheriff’s Association Member of Zeta Tau Alpha Alumnae Fraternity 94 539 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. 670 Oak Street-1.27 Acres 670 Oak Street Lot w/ house to be demo'd Shepards W S IN $6,606,000.00 $7,000,000.00 1.27 55321.2 $126.53 6%N/A N/A 670 Oak Street- .75 Acres 670 Oak Street Lot w/ house to be demo'd Shepards W S IN $3,515,000.00 $4,500,000.00 0.75 32670 $137.74 22%N/A N/A 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 $8,100,000.00 2.11 91911.6 $88.13 -5%N/A N/A 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. 444 W. Boynton Beach Boulveard 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 13% $2,539,000.00 $3,400,000.00 $917,000.00 $1,900,000.00 $2,185,000.00 $47.48 $54.94E. Boynton Beach Blvd. ABC Rentals $917,000.00 16692.192 $54.94 0% SUBJECT PROPERTY FOR BOYNTON BEACH CRA PURCHASE 6% 15% MATT GRACEY PROPERTIES - W. BOYNTON BEACH BLVD. ASSEMBLAGE Demolition Costs 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 $35,828.75 TBD TBD Lots 1, 2, 3, 4, 5, 6 and 7 Block 6, Original Town of Boynton May-18$3,000,000.00 56427.624 93675.78 $76.61 $85,720.00 TBD SUBJECT PROPERTY FOR BOYNTON BEACH CRA PURCHASE Demolition Costs TBD BOYNTON EAST, LLC AVERAGE COST PER SQ. FT. OF PURCHASES ABOVE February-21 March-23 FUTURE CONSIDERATION Demolition Costs 115 $53.17N Federal Highway Church 46016.784 $47.48 N/A $45,804.00 52054.2 $57.63 E. BOYNTON BEACH BLVD. ASSEMBLAGE (ABC RENTAL PROPERTIES) 16692.192 540 Page 1 of 4 4936-1975-5108, v. 2 INTERLOCAL AGREEMENT BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY FOR 670 OAK STREET PURCHASE AND DEVELOPMENT PARTNERSHIP THIS AGREEMENT (“Agreement”) is made this 9th day of October, 2025, by and between the CITY OF BOYNTON BEACH, a Florida municipal corporation, (hereinafter referred to as the "City"), and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public body corporate and politic, duly created and operated pursuant to Chapter 163, Florida Statutes (hereinafter referred to as the "CRA"). The City and CRA may be referred to herein individually as a “Party” and collectively as the “Parties.” WITNESSETH: WHEREAS, the current owner (“Seller”) of the property located at 670 Oak Street, Boynton Beach, FL (the “Property”) has offered to sell the Property to the City to be used as a public park; and WHEREAS, the Property is located within the CRA District, and more specifically within the Federal Highway District; and WHEREAS, the 2016 Boynton Beach Community Redevelopment Plan (the “Plan”) calls for the CRA to create, improve and promote the public waterfront areas and public open spaces, parks, greenways, blueways and bikeways; and WHEREAS, the Plan calls for the CRA to encourage public waterfront access within the Federal Highway District; and WHEREAS, the City desires to develop the Property as a public park; and WHEREAS, the City and the CRA desire to collaborate to acquire and develop the Property for the benefit of the public, the enhancement of property values within the CRA District, and the prevention of slum and blight; WHEREAS, the City and the CRA find that this Agreement serves a municipal and public purpose, and is consistent with and in furtherance of the Community Redevelopment Plan and the requirements of Chapter 163, Florida Statutes. NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the Parties agree as follows: 1. Recitations. The recitations set forth above are hereby incorporated herein. 2. Funding. The CRA shall provide funding to the City in an amount not to exceed $7,100,000 in total (the “Funds”) for the purchase of the Property within 45 days of the City’s entry into a written purchase and sale agreement with the Seller for the purchase of the Property (the “PSA”). The Funds may be used towards closing costs and due diligence. Within 30 days of the City taking title to the Property, the City shall provide the CRA with copies of the closing documents, invoices, and related documentation evidencing the use 541 Page 2 of 4 4936-1975-5108, v. 2 of the Funds and shall return any unused portion of the Funds to the CRA. The City shall return the Funds to the CRA within 45 days and this Agreement shall automatically terminate upon such refund if either of the following conditions are met: a. The City’s purchase of the Property fails to occur within 1 year of the Effective Date (defined below), or b. At any time prior to one year from the Effective Date, the Seller and the City terminate the PSA, and the City and Seller do not enter into another purchase and sale agreement whose terms are acceptable to the CRA within 45 days of termination. 3. Development. The City shall: a. Develop the Property as a public park, open to the public, which may include construction of improvements (including restaurants or other economic drivers) that are open to the public. b. Secure site plan approval in furtherance of such development within 6 years of the Effective Date. 4. Obligations of the CRA, Indemnification. The CRA’s responsibilities under this Agreement are limited to providing the Funds and complying with the provisions of this Agreement concerning public records. Therefore, the CITY shall indemnify, save, and hold harmless the CRA, its agents, and its employees from any liability, claim, demand, suit, loss, cost, expense or damage which may be asserted, claimed, or recovered against or from the CRA, its agents, or its employees, by reason of any property or other damages or personal injury, including death, sustained by any person whomsoever, which damage is incidental to, occurs as a result of, arises out of, or is otherwise related to the negligent or wrongful conduct of persons or the faulty equipment (including equipment installation and removal) associated with the Project, including the development, ownership, entry upon, and use of the Property by any person for any purpose. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA or the CITY as set forth in Section 768.28, Florida Statutes. This paragraph shall not be construed to require the CITY to indemnify the CRA for CRA’s own negligence, or intentional acts of the CRA, its agents or employees. 5. Term. This Agreement shall become valid and commence upon execution by the last party to this Agreement (“Effective Date”). This Agreement shall be in effect from the Effective Date and, unless earlier terminated pursuant to the terms of this Agreement, shall automatically terminate upon the earlier of: a. If the duly approved site plan for the Property contains improvements, that date that occurs one year after the City has received a final Certificate of Occupancy, or equivalent approval, for the last of the improvements; 542 Page 3 of 4 4936-1975-5108, v. 2 b. If the duly approved site plan for the Property contains no improvements, that date that occurs one year from the Property being opened to the public and thereafter remaining in continuous public use; c. The City’s disposal of the Property, in which case the City shall refund an amount equivalent to the Funds or the amount received for the City’s disposal of the Property, whichever is less, to the CRA within 45 days of such disposal, provided however, if the City disposes of the Property it shall make a good faith effort to secure fair market value from such disposal in order to reasonably compensate the CRA; d. Six years from the Effective Date if the City has failed to secure site plan approval for the entirety of the Property, or failed to open the Property for use by the public as a public park, in which case the City shall refund the Funds to the CRA within 45 days; or e. Four years from the date of site plan approval if the Property has not been developed. 6. Public Records. The City and the CRA each shall maintain their own records and documents associated with this Agreement in accordance with the requirements set forth in Chapter 119, Florida Statutes. All such records shall be adequate to justify all charges, expenses, and costs incurred in accordance with generally accepted accounting principles. Each Party shall have access to the other party’s books, records and documents as required in this Agreement for the purpose of inspection or audit during normal business hours during the term of this Agreement and at least one year after the termination of the Agreement. 7. Filing. The City shall file this Agreement pursuant to the requirements of Section 163.01(11), Florida Statutes. 8. Sovereign Immunity. Nothing in this Agreement shall be deemed to affect the rights, privileges, and sovereign immunities of the CRA or the City as set forth in Section 768.28, Florida Statutes. 9. Severability. The validity of any portion, article, paragraph, provision, clause, or any portion thereof of this Agreement shall have no force and effect upon the validity of any other part of portion hereof. To that end, this Agreement is declared severable. 10. No Third-Party Beneficiaries. No provision of this Agreement is intended to, or shall be construed to, create any third-party beneficiary or to provide any rights to any person or entity not a party to this Agreement, including but not limited to any citizen or employees of the City or the CRA. 543 Page 4 of 4 4936-1975-5108, v. 2 11. No Assignment. The Parties may not transfer or assign this Agreement in whole or in part, without prior written consent of the other, which may be granted or withheld at the other Party’s absolute discretion. 12. Governing Law; Venue. This Agreement shall be governed by and in accordance with the Laws of Florida. The venue for any action arising from this Agreement shall be in Palm Beach County, Florida. IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed on the day and year written below. Boynton Beach Community Redevelopment Agency ATTEST: _________________________ By: _________________________________ Print Name: __________________________ Title: ________________________________ Date: ________________________________ APPROVED AS TO FORM AND LEGAL SUFFICIENCY: By: _____________________________ CRA Attorney City of Boynton Beach, Florida ATTEST: _________________________ By: __________________________________ Print Name: ___________________________ Title: _________________________________ Date: ________________________________ APPROVED AS TO FORM AND LEGAL SUFFICIENCY: By: ______________________________ City Attorney 544 4923-9816-1252, v. 1 KEY TERM AND CONDITION SHEET 670 Oak Street, Boynton Beach, FL Proposed Terms of Contract Between City and Sellers Deborah Canepa and Scott Picardy, with funding from CRA through an interlocal agreement with the City I. Terms & Conditions Effective Date: Date of signed agreement. Purchase Price: $6,800,000.00 (Six Million Eight Hundred Thousand Dollars) Deposit, Primary: $300,000, within five business days of contract, refundable prior to expiration of the Feasibility Period. Deposit, Secondary: $5,000, due end of Inspection Period, non-refundable unless specified exception; deposit amounts will serve as a creditor toward purchase price. Deposit Returnable: Seller’s default, failure of Seller to satisfy conditions precedent. Closing Req.: 1) No pending or threatened litigation or administrative proceedings concerning property, 2) property delivered unoccupied, and 3) marketable title. Closing Date: 120 Days from Effective Date. Title Conveyance: Via Warranty Deed with Title Commitment fee simple, free and clear other than Permitted Exceptions. Feasibility Period: 60 days from Effective Date, right to inquire and make investigation of the property. 545 4923-9816-1252, v. 1 Taxes: Prorated. Broker Fees: Paid by Seller Closing Costs: Seller to pay documentary stamps, recording, and costs associated with curing titles, Purchaser to pay the rest including title search, survey costs, and escrow fees. Each party bears own attorney fees and costs. II. Restrictive Covenant: Recording: At closing, simultaneous with deed. Terms: Terms to by finalized by City and Sellers Height Restrictions (36’ or two stories) Parking Retention of residential development rights III. Intended Purpose: Public Park Anticipated enhancement of surrounding property values and related economic development IV. CRA Plan Consistent with the CRA Plan, the acquisition would: Create, improve and promote the public waterfront areas and public open spaces, parks, greenways, blueways and bikeways. Encourage public waterfront access -end- 546 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.B SUBJECT: Update from Pulte Home Company, LLC for the Cottage District Workforce Housing Project SUMMARY: On February 25, 2023, the Purchase and Development Agreement (PDA) between the CRA and Pulte Home Company, LLC (Pulte) for the Cottage District Project was executed (see Attachment I). On September 12, 2023, the Board approved the First Amendment to the PDA that extended the time frame 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 Attachment II). On May 14, 2024, the Board approved the Second Amendment to the PDA which extended the closing date of the sale of the property to Pulte on or before December 26, 2024. The Second Amendment to the PDA was approved by the CRA Board on July 9, 2024 (see Attachment III). On December 13, 2024, the closing on the property took place. The Cottage District consists of 41 for sale homes and will be offered to eligible homebuyers within the Palm Beach County Workforce Housing Program's Low Income (21 townhomes) and Moderate 1 (19 single family detached units) income categories (see Attachment IV). The project will be providing much needed affordable homeownership opportunities as envisioned by the CRA Plan. All building permits have been issued for the 19 single family homes which are under various stages of construction, and 6 townhome permits have been submitted and permit fees paid. In June, Pulte launched the Cottage District w e b s i t e https://www.liveatcottagedistrict.com/ providing prospective homebuyers information regarding the project and the steps in which to qualify for the purchase of a single family home/townhome through the Palm Beach County Workforce Housing Program. CRA staff has been working with interested parties in an effort to guide them to the appropriate entities to help them through the income qualifying process. The CRA, Pulte and the Delray Beach Community Development Corporation (CDC) have actively been marketing the project. To date the CRA has an interested parties list consisting of 256 individuals. The Delray Beach CDC has conducted two informative public meetings in which all CRA interested parties were invited to attend. 547 •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 - Aerial Pursuant to Section 21.d of the PDA, Pulte is required to hold a lottery for those that qualify through the Palm Beach County Workforce Housing Program. All home buyers who have qualified through the Palm Beach County Workforce Housing Program and have received the necessary documentation in which to qualify for the purchase of a home/townhome will be placed into a lottery. The first lottery will take place for the single family homes. The lottery date has not yet been determined. FISCAL IMPACT: No Fiscal Impact CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan ATTACHMENTS: Description 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 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. 574 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 575 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 576 561-600-9098 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 577 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. 578 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 579 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. 580 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: _____________________________________ 581 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 40 582 Cottage District – Letter of Intent 1475 Centrepark Blvd., Suite 305 West Palm Beach, FL 33401 Exhibit C: Sample Elevations of Single-Family Product 583 1,447 A/C Sq. Ft. | 3 Bedrooms | 2 Baths Browning Home Exterior FM1 Home Exterior CO1 584 • 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 585 1,662 A/C Sq. Ft. | 3 Bedrooms | 2 Baths Chapman Home Exterior FM1 Home Exterior CO1 586 • 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 2 587 1,822 A/C Sq. Ft. | 3 Bedrooms | 2.5 Baths Hamden Home Exterior FM1 Home Exterior CO1 588 • 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 589 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 590 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. 591 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. 592 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: _____________________________________ 593 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 40 594 | 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 | 4 595 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 596 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 597 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 598 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 599 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 600 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 601 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 602 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 603 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 604 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 FLOOR605 © 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 606 Browning Model Chapman Model Hamden Model Craftsman Coastal Mediterranean (CRA Board Selected Option) 607 608 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. 609 © 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' 610 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 611 Browning612 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 613 Chapman614 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 615 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 616 Hamden617 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 CO4CO5CO6618 BOYNTON COTTAGE DISTRICT UNDER AIR 619 BOYNTON COTTAGE DISTRICT UNDER AIR 620 6 Unit A 621 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 Azul622 6 Unit B 623 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 Lullaby624 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 625 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 $11,701,742 626 627 628 629 630 631 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.C SUBJECT: Presentation Regarding the CRA Owned Property Located at 211 E. Ocean Avenue - TABLED 07/08/2025 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. CRA staff is currently in the process of soliciting proposals for an in-depth structural analysis and design from engineering firms. 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; $300,000 632 •Attachment I - Location Map •Attachment II - Limited Structural Assessment •Attachment III - Presentation on 211 E. Ocean Avenue •Attachment IV - 2012 Historic Designation Application CRA PLAN/PROJECT/PROGRAM: 2016 CRA Community Redevelopment Plan CRA BOARD OPTIONS: To be determined based on Board direction. ATTACHMENTS: Description 633 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#1/1634 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. 635 220 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 636 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 637 Appendix A: Structural Summary Table 638 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. 639 Appendix B: Structural Photographs 640 BBCRA24001 Appendix B: Structural Photographs Page 1 of 18 Photo #OA: Building South and East Side 641 BBCRA24001 Appendix B: Structural Photographs Page 2 of 18 Photo #OB: Building North and West Side 642 BBCRA24001 Appendix B: Structural Photographs Page 3 of 18 Photo #1A: Water Damage at 1-Story Ceiling 643 BBCRA24001 Appendix B: Structural Photographs Page 4 of 18 Photo #2A: Water Intrusion in Second Floor Ceiling 644 BBCRA24001 Appendix B: Structural Photographs Page 5 of 18 Photo #2B: Water Damage at 2nd Floor Ceiling 645 BBCRA24001 Appendix B: Structural Photographs Page 6 of 18 Photo #2C: Water Damage at 2nd Floor Ceiling 646 BBCRA24001 Appendix B: Structural Photographs Page 7 of 18 Photo #2D: Water Damage at 2nd Floor Ceiling 647 BBCRA24001 Appendix B: Structural Photographs Page 8 of 18 Photo #2E: Water Damage at Roof Sheathing 648 BBCRA24001 Appendix B: Structural Photographs Page 9 of 18 Photo #3A: Deteriorated Wood Siding 649 BBCRA24001 Appendix B: Structural Photographs Page 10 of 18 Photo #3B: Deteriorated Wood Siding 650 BBCRA24001 Appendix B: Structural Photographs Page 11 of 18 Photo #3C: Deteriorated Wood Siding 651 BBCRA24001 Appendix B: Structural Photographs Page 12 of 18 . Photo #3D: Deteriorated Wood Siding 652 BBCRA24001 Appendix B: Structural Photographs Page 13 of 18 Photo #4A: Water Damaged Facia at Overhang 653 BBCRA24001 Appendix B: Structural Photographs Page 14 of 18 Photo #4B: Water Damaged Facia at Overhang 654 BBCRA24001 Appendix B: Structural Photographs Page 15 of 18 Photo #4C: Damaged Facia and Joists at Overhang 655 BBCRA24001 Appendix B: Structural Photographs Page 16 of 18 Photo #5A: Cracks in Concrete Slab-on-Grade 656 BBCRA24001 Appendix B: Structural Photographs Page 17 of 18 Photo #5B: Broken Edge and Cracks in Slab-on-Grade 657 BBCRA24001 Appendix B: Structural Photographs Page 18 of 18 Photo #6A: RDagaed Wood Steps and Framing at the Main Entrance Stairs 658 Magnuson House Presentation 211 E. Ocean Avenue 659 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 660 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) 661 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 662 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 $255,000 663 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 664 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 665 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 666 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 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 683 684 685 686 687 688 689 690 691 692 693 694 695 696 697 698 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.D SUBJECT: Continued Discussion and Consideration of the Future Use of 419 N. Seacrest Boulevard SUMMARY: On November 21, 2024, the CRA Board approved the acquisition of the property located at 419 N. Seacrest Boulevard (see Attachment I). The parcel is 0.327 acres and includes a 1,710 square foot structure. It is situated within the Heart of Boynton District (see Attachment II). The property is currently zoned R-1, with a recommended future land use designation of Low Density Residential (7.5 du/ac) and a maximum height limit of 45 feet. With its current zoning and lot size, the site has the potential to be subdivided into two residential lots, making it a viable candidate for affordable housing. At the August 12, 2025 meeting, the Board discussed the future use of the property. The Board directed CRA staff to coordinate with City staff to confirm the property was not needed for another City use. On August 28, 2025, City staff confirmed they did not have a need for the property (see Attachment III). Additionally, Head Start relocated to other locations in Palm Beach County. CRA staff would like to revisit the potential concepts for the future use of the property. Each concept will require additional research. CRA Staff will report back on the feasibility based on the CRA Board direction. Affordable Infill Housing Developmen t Include the property in the CRA's infill housing inventory to be a part of a future affordable housing development If selected, staff will include the property in the 2026 Solid Waste Authority's Blighted and Distressed Property Clean-Up Grant Application to fund the demolition and prepare the site for redevelopment Community Co-Work Space Renovate the existing building to create a shared workspace that supports local entrepreneurs, freelancers and small businesses Micro Art Studio/Incubator Repurpose the structure into a micro art studio or cultural incubator to support 761 •Attachment I - Location Map •Attachment II - Heart of Boynton District •Attachment III - Confirmation from City •Attachment IV - 10-03-2024 BB CRAB Meeting Minutes emerging artists and enhance local creative placemaking Other Uses The Board may also propose alternative uses for CRA staff to evaluate CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan, Heart of Boynton District CRA BOARD OPTIONS: To be determined based on Board discussion. ATTACHMENTS: Description 762 763 105 Heart of Boynton District Introduction Planning Challenges Planning Considerations The Vision Recommendations 764 106D.District PlansIntroduction The Heart of Boynton District is a 380-acre neighborhood developed predominantly with single-family homes. The neighborhood has several parks, two public schools and numerous churches. Unfortunately, it has been the victim of disinvestment over the last 50 years. The two Census blocks of Tract 61 which encompasses this District have the median household income of $20,848, the lowest in the City. To counter the decline of the neighborhood, in 2001 the CRA and City adopted the Heart of Boynton Community Redevelopment Plan. The Plan was updated in 2014 to reflect the achievements of the original plan and add new projects to reflect the current market conditions. A number of recommendations of the original CRA Plan have been implemented, including: • The demolition of the Cherry Hill public housing project • The redevelopment of the Boynton Terrace site – Ocean Breeze West – into 21 single- family homes • Redevelopment of Wilson Park and into Carolyn Sims Community Center • Expansion of the Palmetto Greens Park • Redevelopment of Sara Sims Park – Master Plan created, property acquired • Streetscape Improvements on Seacrest Boulevard • Redevelopment of Martin Luther King, Jr. Boulevard – Property acquired and Family Dollar developed • Development of new housing – 60 new single family homes developed In partnership with nonprofits, the City and CRA. The Heart of Boynton District is bounded by the C. Stanley Weaver (C-Canal) canal to the north, I-95 to the west, N.E. 3rd Avenue to the south and the FEC rail line to the east. The area is within walking distance of the Cultural and Downtown Districts. A major arterial road—Seacrest Boulevard—runs through the neighborhood north/south. Martin Luther King, Jr. Boulevard, once lined with locally-owned businesses, runs east/west. There are two public elementary schools in the neighborhood, Poinciana and Galaxy. Both schools are STEM schools (Science, Technology, Engineering and Math). There are a number of parks and special use areas within the neighborhood, such as, Carolyn Sims Community Center, Galaxy Park and Scrub and Sara Sims Park. 765 107 Boynton Beach Blvd.FEC RailroadSeacrest Blvd.MLK, Jr. Blvd. NE 3rd Ave. NNW 3rd St.NW 6th Ave. NE 11th Ave.NE 3rd St.NE 9th Ave. Figure 57: Heart of Boynton District Location Map 766 108D.District PlansFigure 58: Example of District Planning Challenges Planning Challenges The Heart of Boynton area suffers from an aging and poorly maintained housing stock. The CRA and City, in partnership with local non-profits, continue to develop single-family homes, but there is a need for quality affordable multi-family rental housing. The problem is that—given low median household incomes—it cost more to build even modest apartments than many of the families can afford. This gap will has to be filled through some form of a subsidy. Another major deterrent to private investment is the visible blight and crime. There are still a number of small convenience stores that allow loitering and illegal activities for all to see, discouraging people to buy homes or invest in businesses within the area. The District is comprised of small parcels platted in the 1920’s – 1930’s, during Florida’s land boom. The parcels are owned by many different people making assembly of a developable site very difficult and expensive. Moreover, many owners have an unrealistic sense of the value of their property. Over the years, the neighborhood has lost most of their retailers and service providers. There is no full service grocery store and only one take- out restaurant. The majority of commercial use is represented by convenience stores. A new Family Dollar store at the corner of Martin Luther King, Jr. Boulevard and Seacrest Boulevard has been a welcome addition, but there is a need for more retail services. The neighborhood is bifurcated by a four- lane Seacrest Boulevard, which has only one signalized pedestrian crossing even though there are two elementary schools in the neighborhood. The width of the road and drive aisles encourage speeding through the neighborhood; clearly, the road is not presently designed at a neighborhood scale. Both Seacrest Boulevard and Martin Luther King, Jr. Boulevard have older, ill-maintained power poles with overhead utilities, causing a “visual blight.” 767 109 Planning Considerations Several factors were considered in determining the land use designations for the Heart of Boynton District. A future commuter rail station for the planned Tri- Rail Coastal Link service, which will serve the South Florida metropolitan region, is planned for downtown at N.E. 4th between Ocean Avenue and Boynton Beach Boulevard. To improve land development patterns in advance of station development, the City adopted a Downtown Transit Oriented Development District (DTOD), covering a ½ mile radius around the station’s location, including a portion of the Heart of Boynton. The DTOD district regulations support increased intensity of development through a 25% density bonus. A second consideration is the Transportation Concurrency Exception Area (TCEA) which, in addition to the residential exception area applicable east of I-95, exempts all development from the Palm Beach County traffic concurrency requirements thus allowing denser development. The Plan recommends increasing density within the area where the TCEA and TOD designations overlap. However, because this District is a low- scale neighborhood, no increase in height over 45’ is recommended. Historic District. There are a significant number of historic cottages located along both sides of NE 3rd Avenue and the south side of NE 4th Avenue between N. Seacrest Boulevard and NE 1st Street. In order to protect these cottages while allowing commercial redevelopment of the south side of NE 3rd Avenue, the Plan recommends that: • The historic cottages from the south side of NE 3rd Avenue be relocated to the vacant lots on the north side of NE 3rd Avenue. • On completion of the relocations, a historic district, tentatively called Shepard Funk Addition Historic Cottage District, be created within the block enclosed by N. Seacrest Boulevard, NE 1st Street, NE 3rd Avenue, and NE 4th Avenue. Figure 59: Historically significant cottages in the HOB 768 110D.District PlansVision The Heart of Boynton area will become a model neighborhood, with its unique character and history preserved. The vision includes enriching the original vernacular architecture of the neighborhood, investing in housing and commercial uses, and connecting both through the pedestrian and vehicular networks. Recommendations: Streetscape Streetscape enhancements are recommended for the Seacrest Blvd and Martin Luther King Jr. Blvd. The space for these enhancements may be obtained through either right-of-way dedications or public easements. The enhancements should include: • Implement a Complete Streets program for Seacrest Boulevard and ML K Jr. Boulevard to accommodate bike lanes and bike racks, widening of sidewalks, decorative street lights, street furniture, and on-street parking. • Marking of major intersections with materials such as pavers, paint, etc. • Enhanced median landscaping • Bus shelters (will be required as part of new construction) • Additional signalized pedestrian crossings (including mid-block) along Seacrest BoulevardAddition of canopy street trees • Creation of a Pedestrian Zone adjacent to the right-of-ways that is inviting, safe and includes: • Minimum 8’ wide clear sidewalk • Decorative light poles at both the vehicular and pedestrian scales • Require installation of canopy trees that provide immediate shading at time of construction • Undergrounding of overhead utilities • Creation of a greenway to connect the greenway proposed along NW 1st Avenue, Sara Sims Park, and Wilson Park per the Connectivity Plan • Creation of an eco-trail to connect the existing scrub and linear parks per the Connectivity Plan 769 111 Figure 60: Seacrest Blvd Streetscape Area Figure 61: MLK JR. Blvd. Streetscape Area Figure 62: MLK JR. Blvd. Street Section 770 112D.District PlansRecommendations: Land Use The existing land use designations within the Heart of Boynton District are: • Low Density Residential – 5 units per acre (all of this land use designation is concentrated on the west side of Seacrest Boulevard. • Medium Density Residential – 10 units per acre (this land use designation is concentrated on the east side of Seacrest Boulevard) • High Density Residential – 11 units per acre (currently over the Ocean Breeze West development and along W. Seacrest from N.W. 8th to N.W. 9th) • Mixed-Use – 40 units per acre (this land use designation is placed on the CRA-owned Ocean Breeze East block and on CRA-owned property along MLK, Jr. Boulevard) • Local Retail Commercial, General Commercial, Industrial, Recreational, and Public & Private Governmental/Institutional Below is a table of the proposed land use and zoning designations that will apply within the Federal Highway Corridor District: Table 7: Recommended Future Land Use (FLU) Classifications within the Heart of Boynton District *Properties located within the TOD may recieve a 25% density bonus * 771 113 Boynton Beach Blvd.Seacrest Blvd.MLK Jr. Blvd.NW 3rd St.NE 3rd St.NW 6th Ave. NE 9th Ave. N LDR MUM MUL MDR HDR GC I R PBG/I Figure 63: Recommended Land Use for the Heart of Boynton District 772 114D.District PlansRecommendations: Urban Design • There are three architectural styles of historic structures in the Heart of Boynton: Mission, Frame Vernacular, and Mediterranean Revival. When building in this District, new development shall attempt to utilize one of these architectural styles. • A Historic Cottage District should be considered adjacent to the proposed Cottage District; where feasible, historically contributing cottages in the area shall be relocated in the Historic Cottage District. • Commercial buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall maximize the amount of glazing. • Residential buildings fronting MLK Jr., Boulevard and/or Seacrest Boulevard shall be designed to have pedestrian access from the main road and have front door facing the main road. • All buildings along MLK Jr., Boulevard and/or Seacrest Boulevard shall be set back to allow for a pedestrian zone. • Approximately 75% of the lot frontage must be occupied by structure and be adjacent to the pedestrian zone. • Buildings fronting MLK Jr., Boulevard shall be a maximum of two story and stepped back to continue to the maximum allowed height in the designated Zoning District. • Parking shall be located to the rear or side of the buildings • Curb cuts shall be permitted on Boynton Beach Blvd only when access is not possible from the rear or side. • When adjacent to commercial uses, single-family areas shall be protected through the use of landscape buffers and/or walls as appropriate. Figure 64: Heart of Boynton Projects 773 115 Sara Sims Park Expansion Working with residents of the community, the CRA and its consultant created a master plan for the expansion and improvement of Sara Sims Park. The CRA has also purchased seven properties and deeded them to the City in preparation for the eventual expansion of the park. Staff will review the feasibility of converting a portion of Sara Sims Park Master Plan, along the western boundary, from Recreational Land Use to Single Family. This process shall include a public meeting, the Parks and Recreation Board review and recommendation, and CIty Commision approval. Ocean Breeze East The CRA owns 4.5 acres of vacant land east of Seacrest Boulevard between N.E. 6th and 7th Avenues. The CRA is seeking a private development partner to build a multi-family project on the site. Cottage District The CRA owns approximately 5 acres on the block between N.E. 4th and 5th Avenue. The CRA’s goal for this site is to attract a private development partner to build single-family for-sale homes in the style of the surrounding historic cottages. MLK Commercial Leveraging CRA-owned land and economic development grants, the CRA was able to bring a Family Dollar store to the Martin Luther King, Jr. Boulevard corridor in 2015. The CRA owns additional land on the corridor and continues to work with developers to attract new and needed neighborhood retail. MLK Multi Family Utilizing CRA-owned land, the CRA is seeking to attract a private development partner to build a multi- family development along the Martin Luther King, Jr. Boulevard corridor. The development may include commercial uses. Figure 65: Sara Sims Expansion Figure 66: Ocean Breeze East Figure 67: Cottage District 774 116D.District PlansFigure 68: Example of a Commercial Project on MLK Jr. Blvd. 775 117 Figure 69: Example of Multi Family Project on MLK Jr. Blvd. 776 From:Kalkat, Poonam To:McDermott, Joshua; Utterback, Theresa Cc:Tack, Timothy; Nicklien, Bonnie Subject:Re: 419 N. Seacrest Blvd. Date:Thursday, August 28, 2025 11:52:52 AM Attachments:image811363.png image582267.png image888630.png image719576.png image323050.png image093145.png image355022.png image254670.png image628192.png image781937.png Hi Theresa and Tim, I did discuss some potential and proposed uses with Andrew but don't think any of the uses will justify the cost for getting the building renovated to serve any of the proposed purposes as well as the additional maintenance and security costs. Please go ahead with your next steps, we appreciate you bringing us into the conversation and for giving us time to think it through. Thank you and good luck with finding a good purpose of the land. Poonam Kalkat , PhD Utilities Director Boynton Beach Utilities, Administration City of Boynton Beach 124 E Woolbright Rd | Boynton Beach, Florida 33435 561-742-6403 KalkatP@bbfl.us | http://www.boynton-beach.org/ 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: McDermott, Joshua <mcdermottj@bbfl.us> Sent: Wednesday, August 27, 2025 4:32 PM To: Utterback, Theresa <UtterbackT@bbfl.us> Cc: Kalkat, Poonam <KalkatP@bbfl.us>; Tack, Timothy <TackT@bbfl.us>; Nicklien, Bonnie 777 <NicklienB@bbfl.us> Subject: Re: 419 N. Seacrest Blvd. Hi Theresa, Poonam was going to run a couple of our ideas by Andrew to see what his thoughts are. Joshua McDermott Deputy Director, Utilities Boynton Beach Utilities, Administration City of Boynton Beach 124 E. Woolbright Rd.| Boynton Beach, Florida 33435 561-742-6348 mcdermottj@bbfl.us | http://www.boynton-beach.org/ 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 On Aug 26, 2025, at 6:38 AM, McDermott, Joshua <mcdermottj@bbfl.us> wrote: Good morning, Theresa, Poonam and I are meeting at noon today to review options. We will have some feedback for you following our meeting. Thank you! Josh On Aug 25, 2025, at 1:40 PM, Utterback, Theresa <UtterbackT@bbfl.us> wrote: Good Afternoon, 778 Any thoughts on your use of the property? Looking forward to hearing from you. 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 <image151551.png> <image404887.png> <image370289.png> <image007881.png> <image728871.png> <image547435.png> <image919381.png> 779 1 CRA Advisory Board Meeting Thursday, October 3, 2024 - 6:30 PM City Hall Chambers, 100 E. Ocean Avenue 561-737-3256 1. Call to Order Chair Cobb called the meeting to order at 6:32 PM. 2. Pledge of Allegiance Chair Cobb asked the board to stand for the Pledge of Allegiance. 3. Roll Call Members Present: Naomi Cobb (Chair) Courtlandt McQuire (Vice Chair) Lesha Roundtree Thomas Ramiccio Kameren Maharaj Staff: Timothy Tack, Acting CRA Executive Director Vicki Curfman, Administrative Assistant Other: Leslie Harmon, Prototype Inc. 4. Agenda Approval A. Additions, Deletions, Corrections to the Agenda None. B. Adoption of Agenda Motion: Mr. Ramiccio moved to adopt the agenda. Mr. McQuire seconded the motion. In a voice vote, the motion passed unanimously. 780 2 5. Public Comment None. 6. Consent A. CRA Advisory Board Meeting Minutes – September 5, 2024 Motion: Ms. Roundtree moved to approve the September 5, 2024, minutes. Mr. McQuire seconded the motion. In a voice vote, the motion passed unanimously. 7. Assignments A. Pending Assignment No. 1 - Discussion and Consideration of New Assignments from the CRA Board assigned at the February 13, 2024, CRA Monthly Board Meeting Acting Director Tim Tack opened the discussion on the Downtown District. He provided an overview of the district boundaries, noting it spans from Northeast Seventh Street to Southeast 12th Avenue, bordered by Federal Highway and the FEC railway. Chair Cobb inquired about updates on ongoing projects within the Downtown District. Mr. Tack mentioned several developments, including residential projects along the Federal Highway corridor, with some still in the pre-application phase. He emphasized the district's potential for mixed-use development. Vice-Chair McQuire and Board Member Ramiccio raised concerns about the confusion between the Downtown District and the Cultural Arts District. He suggested exploring a renaming of the Downtown District to avoid overlap and to better align with the district’s evolving character. Ms. Roundtree supported this, noting that a cohesive branding strategy could enhance the area’s identity and public perception. Discussion also covered opportunities for activating Veteran’s Park. Mr. Tack highlighted the potential to improve lighting and create a more inviting atmosphere for pedestrians. Ideas included adding red, white, and blue up-lighting to highlight the park’s significance Chair Cobb emphasized the importance of making the park more accessible and visible to residents and visitors alike. The Board agreed to further explore these suggestions and consider including them in the next CRA plan update: • Land acquisition for a Parking garage site, but in the meantime, surface lots to be used for parking • Beautification along Federal corridor • Increase opportunities for activation of Veteran’s Park to include red, white, and 781 3 blue lighting • Re-evaluation of district boundaries, as well as, renaming/reboundry/rebranding • Land acquisition for a Grocery store • Increased maintenance, safety, and cleanliness of the district in anticipation of more pedestrian traffic. The CRAB Board will review the 2016 CRA Plan as a whole and bring their ideas and suggestions to the November 7, 2024 meeting. B. Pending Assignment No. 2 - Discussion and Consideration of New Assignments from the CRA Board assigned at the February 13, 2024 CRA Monthly Board Meeting Regarding Property Acquisition Mr. Tack introduced the proposed acquisition of property at 419 N Seacrest Blvd. He detailed that the parcel, approximately 0.33 acres, was listed on the open market and could serve as a strategic acquisition for future redevelopment efforts. Motion: Mr. Ramiccio moved to recommend the acquisition as a land-banking opportunity. Mr. Ramiccio seconded the motion. In a voice vote, the motion passed unanimously. C. Reports on Pending Assignments None. D. New Assignments None. 8. CRA Board Items for CRA Advisory Board Review and Recommendations A. Old Business None. B. New Business Mr. Tack proposed a change to the meeting start time, suggesting an earlier start at 6:00 PM to better accommodate members' schedules. The board discussed the feasibility and agreed to the change, pending the approval of absent board members. Motion: Mr. McQuire moved to adjust the meeting start time from 6:30 PM to 6:00 PM, contingent upon agreement from absent members. Mr. Ramiccio seconded the motion. In a voice vote, the motion passed unanimously. 9. Future Agenda Items Mr. Tack mentioned that the next CRA Board meeting will include a presentation on the MLK Gateway Feature Project. He invited board members to attend and provide input, 782 4 emphasizing the importance of public feedback in shaping the project. 10. Adjournment There being no further business to discuss, the meeting was adjourned at 8:08 PM. NOTICE 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 WEBSITE. INFORMATION REGARDING ITEMS ADDED TO THE AGENDA AFTER IT IS PUBLISHED ON THE CRA'S WEBSITE CAN BE OBTAINED FROM THE CRA OFFICE. 783 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.E SUBJECT: Continued Discussion and Consideration of Registration and Travel Expenses to Attend the Florida Redevelopment Association 2025 Annual Conference on October 14-17, 2025 in West Palm Beach, FL SUMMARY: CRA Board Attendance: The Florida Redevelopment Association (FRA) is our agency's statewide professional organization operating under the Florida League of Cities. This year's annual conference will be held on October 14-17, 2025, at the Hilton West Palm Beach Hotel in West Palm Beach, FL. The conference provides valuable information to staff and board members on CRA related issues, best practices, programs and legislative updates. The 2025 conference program is provided as Attachment I. Registration information is available on the FRA's website: https://redevelopment.net/2025- annual-conference/ In summary, the conference registration is $395/member plus $50/tour until September 26th. Rates increase on registrations placed after September 26th. There is also an optional CRA Board Training Course available for $50/member. The proposed 2025-2026 Fiscal Year Budget for the Boynton Beach CRA includes funding for all five CRA Board members and two CRAB members to attend the FRA conference (CRAB is subject to CRA Board approval). This budget allocation allows for the conference registration, tour, mileage and per diem for meals not included during the conference. CRA Advisory Board Member Attendance Policy : The CRA Board established a policy during Fiscal Year 2016-2017 that only two members of the CRAB are permitted to attend the FRA Annual Conference per fiscal year and the CRA will only reimburse the cost of the conference registration fee (see Attachment II). If supported by the CRA Board, the CRA Advisory Board would nominate up to two attendees at their September 17, 2025, Advisory Board meeting. At the August 12, 2025 CRA Board Meeting, the Board requested this item to be brought back 784 •Attachment I - 2025 FRA Annual Conference Program •Attachment II - August 2017 CRA Board Minutes at the September meeting in order to allow for Board Members to look at their calendars for confirmation on attendance. FISCAL IMPACT: Proposed Fiscal Year 2025-2026 Budget, General Fund, Line Item 01-51010-225 : $30,000 CRA BOARD OPTIONS: CRA Board member attendance to be determined based on discussion. ATTACHMENTS: Description 785 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION2025 FRA ANNUAL CONFERENCE October 14-17, 2025 Hilton West Palm Beach #FRA2025 REGISTRATION INFORMATION The 2025 Florida Redevelopment Association Annual Conference will be held on October 14-17, 2025, at the Hilton West Palm Beach in West Palm Beach. The conference is an opportunity for redevelopment professionals, elected officials, and appointed officials who oversee administering redevelopment (economic development) programs in Florida cities and counties and community redevelopment agencies (CRAs) who have separate, dedicated trust funds that can be spent on redevelopment projects to meet in person. Attendees at the conference will have opportunities to enhance leadership skills, learn from municipal experts, share ideas with peers, discuss strategies for Florida’s future, and hear about the latest in products and services for redevelopment projects. Don’t miss this opportunity to learn, network, and share! DEADLINES ‣September 12, 2025: Last day to reserve hotel accommodation with group block. ‣September 26, 2025: Conference registration fee increases by $100.00 after 5:00 p.m. ‣October 10, 2025: Online registration closes. #FRA2025 • 1 786 #FRA2025 • 2 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION REGISTRATION INFORMATION Online Registration – Credit Cards Only Click here to register online and pay with a credit card. The FRA accepts Visa, Mastercard, or American Express. Mail Registration – Checks Only Complete the registration on page 9 if you are paying by check. Mail the registration form and check to the Florida Redevelopment Association Annual Conference, P.O. Box 1757, Tallahassee, FL 32302 by October 10, 2025. HOTEL INFORMATION The Hilton West Palm Beach, 600 Okeechobee Boulevard, West Palm Beach, is the conference venue and is not accepting reservations at this time. Your paid registration confirmation will include the hotel booking link for you to secure a reservation. The cutoff date for reservations is September 12, 2025. The FRA has secured the special rate of $289/night + 13% tax. The FRA room block tends to fill up quickly, so reserve your room once your registration is complete. The FRA will never call you to book a room; nor does the FRA use a third party for hotel reservations. These calls and third-party operators are not authorized by the FRA and are not part of the room block. Self-Parking is not available at this property. However, valet services are offered to our group at the discounted rate of $25/ night plus tax. This rate also applies to those who are not staying on property but are attending the conference daily. SPECIAL NEEDS If you are physically challenged and require special services, or if you have special dietary restrictions (e.g., specific allergies, kosher and vegetarian requests), please attach a written description to your registration form. REGISTRATION FEES Full Registration (October 14-17, 2025) Member: $395.00; Nonmember: $495.00 (Late registration fee applied September 27, 2025) Member: $495.00; Nonmember: $595.00 CRA Board Training Course (October 15, 2025) $50.00 Tours (October 15, 2025) $50.00 per tour (1 tour per person) Academy Graduation and Awards Banquet (October 16, 2025) $75.00 Guest Ticket Guest/Spouse Registration (October 14-17, 2025) (Nonprofessional relations only) $325.00 Full registration and guest/spouse registration fee covers your name badge and admission to all conference sessions and the exhibit hall, refreshment breaks, light continental breakfasts each day, Wednesday’s Welcome Luncheon in the exhibit hall, Wednesday’s Welcome Reception in the exhibit hall, Thursday’s Networking Luncheon in the exhibit hall, and Thursday’s Academy Graduation and Awards Banquet. Tours are an additional fee. NOTE: Registration fees will increase by $100.00 per registration/guest for all registrations made after 5:00 p.m. on September 26, 2025. CANCELLATION POLICY Conference registration cancellation requests must be emailed to mmontgomery@flcities.com no later than 5:00 p.m. on September 26, 2025, to be eligible for a conference registration refund. A $50.00 cancellation fee will be applied to all cancellations. Refunds will be issued after the conference. No refunds will be made after September 26, 2025, or for early departure from the conference. QUESTIONS? Contact Meredith Montgomery, Meeting Planner, Florida Redevelopment Association/Florida League of Cities, Inc., 850.701.3636; mmontgomery@flcities.com 787 #FRA2025 • 3 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATIONTENTATIVE PROGRAM (Schedule and speakers subject to change) TUESDAY, OCTOBER 14, 2025 1:00 p.m. - 5:00 p.m. Registration Desk Open 3:00 p.m. - 5:00 p.m. FRA Board of Directors Meeting WEDNESDAY, OCTOBER 15, 2025 7:30 a.m. - 6:00 p.m. Registration Desk Open 7:15 a.m. - 12:00 p.m Tour (bus): West Palm Beach/Riviera Beach (Additional fee of $50.00; pre-registration required) Attendees will explore the transformation of West Palm Beach and Riviera Beach, starting with the Historic Northwest District, where cultural heritage and modern development converge. Highlights include the iconic Sunset Lounge, Styx Promenade, and Heart and Soul Park, all key to the district’s revitalization. The tour continues to the Riviera Beach Marina Village, a reimagined waterfront offering recreation, culture, and economic opportunity. Finally, attendees will visit the NORA (North Railroad Avenue) district, a sustainable, mixed-use development that blends adaptive reuse with modern design. Each stop showcases how public- private partnerships (P3s) are reshaping neighborhoods, preserving heritage, and driving dynamic growth, all while fostering a stronger sense of community. 7:15 a.m. - 12:00 p.m. Tour (bus): Delray Beach/Boynton Beach (Additional fee of $50.00; pre-registration required) Join us for a dynamic and immersive tour that will showcase two of Palm Beach County’s charming – and growing! – coastal towns: Delray Beach, affectionately known as the “Village by the Sea,” and Boynton Beach, the “Gateway to the Gulf Stream.” This informative guided tour highlights key investments both communities are making to ensure community-centered, inclusive growth that supports both people and place. In Delray Beach, visit affordable and workforce housing developed in partnership with local nonprofits, new commercial spaces in The Set that support small businesses while preserving the neighborhood’s cultural identity, and strategic CRA investments in downtown infrastructure that have played a pivotal role in enhancing the area’s vibrancy and appeal. In Boynton Beach, visit the new Town Square complex, view active development sites along East Ocean Avenue and Boynton Beach Boulevard, and tour the Boynton Harbor Marina, a key anchor for downtown activity and recreational experiences. The tour concludes in the Heart of Boynton with an inside look at vital affordable housing developments and a mixed-use project that is shaping the community. 7:15 a.m. - 12:00 p.m.. Tour (bus): Lake Worth/West Gate (Additional fee of $50.00; pre-registration required) Explore innovative housing, infrastructure, and redevelopment projects in the Westgate and Lake Worth Beach CRAs. The tour begins in Westgate, just west of downtown West Palm Beach, with a visit to the Dennis P. Koehler Preserve— a 7.5-acre lake serving as a park and stormwater mitigation site. Next, see the $11M Westgate Avenue Streetscape Project and other key CRA-led improvements like South Westgate Estates’ cottage housing, Oswego Oaks Park, and Westgate Dog Park. The tour continues past new multifamily developments along Congress Avenue, the future 47-acre Palm Beach Kennel Club redevelopment, and The Hangar—a luxury car storage facility with community space. In Lake Worth Beach, visit vibrant mixed-use developments like Deco Green and the MID, as well as the transit-oriented Lake Worth Station. Stroll through the historic district to see charming Lake Worth Cottages, then visit Downtown Lake Worth Beach and the iconic Gulfstream Hotel, now under restoration. The tour concludes with stops at major redevelopment sites including The Bohemian, a Brightline-connected residential project, and Madison Terrace, a planned affordable senior housing community, before returning to West Palm Beach. 788 #FRA2025 • 4 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION7:15 a.m. - 12:00 p.m.. Tour (walking): City Place/Downtown (Additional fee of $50.00; pre-registration required) Get your steps in on this up-close and personal walking tour of the streetscapes and real estate developments along the Rosemary Avenue and Clematis Street corridors! We’ll start walking from the Hilton West Palm Beach lobby past the Restoration Center hardware anchor store on Okeechobee Boulevard into the heart of City Place, where you’ll hear brief presentations from the developer as well as the design team that helped bring their vision to life. After a quick presentation, we’ll have breakfast at Maman and continue our walk to Clematis Street, the nightlife hub of downtown West Palm Beach! We’ll continue our tour walking east on Clematis Street, hearing from the design team and the West Palm Beach CRA about streetscape planning, design, and implementation. You’ll also hear from the contractor about how the corridor was kept accessible during construction to keep pedestrian traffic flowing through the area. Once we reach the waterfront at Flagler Drive and Clematis Street, you’ll get to listen to a presentation from the CRA about how they activate the waterfront for events and the exciting future the City/CRA has in store for the area. After the waterfront presentation, we’ll start to head back to the hotel, but make one more stop at the Chase/Trinity streetscape project, where attendees will get to see a full streetscape project in action. Please wear comfortable shoes and bring a bottle of water. Total distance will be between 2 and 2.5 miles! 8:00 a.m. - 12:00 p.m. CRA Board Training Course Presented by: Jeff Burton, Ph.D., FRA-RA, Executive Director, City of Bradenton CRA This is a general educational session designed for CRA staff, elected and appointed officials, volunteers, and advisory board members. It provides a succinct overview of what you need to know that you don’t know in the universe of CRAs. Learn some helpful, practical, legal, and administrative best practices for CRA policymaking success. 11:30 a.m. - 6:30 p.m. Exhibit Hall Open 12:00 p.m. - 1:15 p.m. Welcome Luncheon in the Exhibit Hall 1:15 p.m. - 2:15 p.m. Welcome and Keynote Address Keynote Presentation:The Walkable City Keynote Speaker: Jeff Speck, Partner, Speck Dempsey LLC Jeff Speck is a city planner and author who advocates internationally for more walkable cities. As Director of Design at the National Endowment for the Arts from 2003 through 2007, he presided over the “Mayors’ Institute on City Design” and created the Governors’ Institute on Community Design. Prior to his federal appointment, Speck spent 10 years as Director of Town Planning at DPZ & Co., the principal firm behind the New Urbanism movement. Since 2007, he has led Speck & Associates (now Speck Dempsey), an award-winning urban planning firm serving public and private clients around the world. With Andres Duany and Elizabeth Plater-Zyberk, Speck is the co-author of “Suburban Nation,” which the Wall Street Journal calls “the urbanist’s bible.” His 2012 book “Walkable City” was the best-selling city planning title of the past decade and has been translated into eight languages. He is also the principal author of “The Smart Growth Manual and Walkable City Rules.” Speck has been named a fellow of both the American Institute of Certified Planners and the Congress for New Urbanism. In a recent Planetizen poll, he was voted one of the ten “most influential urbanists of all time.” Speck was the 2022 recipient of the Seaside Prize, whose former awardees include Jane Jacobs and Christopher Alexander. His TED talks and YouTube videos have been viewed more than six million times. 2:15 p.m. - 2:30 p.m. Refreshment Break in the Exhibit Hall 789 #FRA2025 • 5 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION2:30 p.m. - 3:30 p.m. Redefining Redevelopment: Overcoming Red Tape with Innovation A dynamic discussion on innovative approaches to redevelopment that break through traditional bureaucratic barriers, focusing on collaboration with communities and unconventional partnerships to create impactful projects. 2:30 p.m. - 3:30 p.m. Part 1: Securing Legacies: Overcoming Barriers to Increase Generational Wealth in Redevelopment Areas This session will explore critical strategies for preserving communities and preventing displacement. Key topics include heirs’ property, vacancy prevention, and community stability. The discussion will also delve into the preservation of residential properties including title continuance and estate planning and their impact on home valuation. Attendees will gain insights into how these tools can be leveraged to maintain community cohesion and ensure long-term housing preservation. Part 2: Starve the Crisis, Feed the Vision Explore how strategic planning, collaboration, and innovative funding can address housing challenges, showing affordable housing as the catalyst for community growth. 2:30 p.m. - 3:30 p.m. Leveraging Brownfields Resources to Inspire CRA Revitalization This session will explore state, federal, and local grants, incentives, and resources to jump-start the reuse of environmentally stigmatized properties within CRAs. Brownfields practitioners, including active CRA managers/consultants and environmental legal counsel, will discuss layering incentives and resources to increase the tax base and inspire community and economic development within CRAs. Multiple case studies of successful CRA Brownfields projects will also be discussed. 3:30 p.m. - 3:45 p.m. Refreshment Break in the Exhibit Hall 3:45 p.m. - 5:00 p.m. Informed Decision-Making for CRAs: The Power of Data Gathering and Analysis This panel will discuss the triad of meaningful data gathering and analysis from community engagement, economic trends, and parcel data related to CRAs. Learn how leveraging data can help ground and target your agency’s goals, actions, and benchmarks, leading to informed and measurable plans. 3:45 p.m. - 5:00 p.m. The Business of the CRA vs. the CRA Brand This session will focus on understanding the critical difference between what a Community Redevelopment Agency (CRA) does and what it means to the people it serves. CRAs are tasked with revitalizing communities, attracting investment, and improving quality of life, but their impact isn’t just measured in projects and policies. It’s also shaped by public perception, stakeholder trust, and the agency’s ability to communicate its value effectively. In this session, we’ll explore the fundamentals of CRA operations vs. CRA identity, unpacking the psychology of how residents, business owners, elected officials, and developers interpret the agency’s work. Participants will learn how to align redevelopment efforts with a compelling brand narrative. 3:45 p.m. - 5:00 p.m. Reimagining Public Parks: Transforming Spaces for Communities of Tomorrow Discover practical methods to adapt to changing CRA rules, streamline management, and sharpen communication. Drawing on real-world experiences in Tampa’s CRAs—including management restructuring, consolidating multiple districts, and brand migration— this session presents proven tactics to bolster local government and redevelopment efforts. 5:00 p.m. - 6:30 p.m. Welcome Reception in the Exhibit Hall 790 #FRA2025 • 6 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATIONTHURSDAY, OCTOBER 16, 2025 8:00 a.m. - 3:00 p.m. Registration Desk Open 8:00 a.m. - 1:00 p.m. Exhibit Hall Open 8:00 a.m. - 9:00 a.m. Light Continental Breakfast in the Exhibit Hall 9:00 a.m. - 10:15 a.m. It Takes a Village: How Successful Communications Can Lead to Transformations This session aims to inspire other organizations to prioritize community communications and highlights the importance of adaptive strategies in grant management. 9:00 a.m. - 10:15 a.m. Part 1: Transforming Urban Mobility: Leveraging Mobility Plans Street design mobility is one of the most critical aspects of redevelopment and one that CRAs can affect. This presentation highlights how mobility plans can be used to transform local roadways by integrating land use, redevelopment, and multimodal transportation strategies to create safer, more connected, and vibrant urban environments. Part 2: Smart Streetscapes for Safer, Smarter Communities Explore how smart cities technology and data-driven tools can be used to monitor mobility patterns, improve operations, and measure the impact of public investments, providing a consistent framework to guide future infrastructure decisions and redevelopment efforts. 9:00 a.m. - 10:15 a.m. Navigating Evolving CRA Requirements and Effective Communication This session will explore ways to utilize free or affordable tools and ideas for turning your projects into exciting posts, to share the great work that your CRA is doing to improve your redevelopment area. 10:15 a.m. - 10:30 a.m. Refreshment Break in the Exhibit Hall 10:30 a.m. - 11:30 a.m. The Final Countdown: Transitioning Beyond CRA As the sunset of your Community Redevelopment Area (CRA) approaches, redevelopment professionals must navigate a complex landscape to ensure that ongoing projects are completed, funding is appropriately allocated, and community goals are met. This session will provide vital strategies, tools, and insights for professionals working within CRAs to manage the transition effectively and with minimal disruption to redevelopment efforts. 10:30 a.m. - 11:30 a.m. The Pond Awakens: From Stormwater Pond to Strolling Paths Learn how to work together with various agencies (FDOT & City) and multiple departments in the city (CRA, Parks and Rec, Public Works, Utilities) to redevelop an area, and talk with the adjacent private property owners for their buy-in and support of a project. 10:30 a.m. - 11:30 a.m. A Tale of Two CRAs: Using the Federal Brownfields Program to Boost Redevelopment In 2023, the Cities of Apopka and Kissimmee joined the East Central Florida Regional Planning Council’s Resilient Corridors Brownfields Coalition to fund redevelopment projects within their CRAs. Learn how both cities have used this program to boost the redevelopment of catalyst sites and attract new investment within their districts. 11:30 a.m. - 1:00 p.m. Networking Luncheon in the Exhibit Hall 1:00 p.m. - 2:30 p.m. Keynote Address 791 #FRA2025 • 7 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION3:00 p.m. - 4:30 p.m. Part 1: Enhancing Community Safety: The West Palm Beach CRA Experience Learn how the West Palm Beach CRA has significantly improved security and reduced crime through innovative initiatives and community partnerships. Part 2: Crackdown on Carson Explore the remarkable transformation of Carson Drive in Fort Walton Beach, showcasing the power of evidence-based crime prevention design principles. Once a high-crime area, Carson Drive has evolved into a safer, more welcoming environment that supports family living. The session will demonstrate how systematic application of Crime Prevention Through Environmental Design (CPTED) principles can dramatically improve high-crime areas, benefiting the entire community. 3:00 p.m. - 4:30 p.m. From Empty to Energized: Reclaiming Spaces for Walkable Vitality Redevelopment districts can deliver the energy, connection, and character that draw people in—but vacant storefronts, empty lots, and underutilized buildings can quickly drain that momentum. Across Florida, CRAs are addressing these challenges through interim uses—strategic activations that bring spaces back to life over a multi-year horizon. From community markets and food truck courts to neighborhood hubs, creative site design, and adaptive reuse, these mid- term solutions increase foot traffic, improve public perception, and lay the groundwork for permanent investment. Learn how communities are leveraging design-forward strategies and local partnerships to restore vibrancy, build confidence, and transform vacant properties into active, valuable assets. Walk away with actionable ideas and proven tools to turn stalled sites into walkable destinations that align with your CRA’s long-term redevelopment goals. 6:30 p.m. - 8:30 p.m. Academy Graduation and Awards Banquet Help us congratulate our Academy graduates, award winners, and the 2025-2026 Board of Directors. (This event is included with a full registration. Guest tickets are available for an additional fee. See page 9 for details.) Keynote Presentation: Inclusive Transportation: A Manifesto for Repairing Divided Communities Keynote Speaker: Veronica O. Davis, PE, Director, Cities Program, AtkinsRéalis Veronica O. Davis, PE, is a self- described transportation nerd and author of “Inclusive Transportation: A Manifesto for Repairing Divided Communities.” She believes everyone should have access to safe, reliable, and affordable transportation. She is currently the Director of Cities Program for AtkinsRéalis. She has over 20 years of experience in civil engineering and planning. Under the Mayor Turner Administration, she was the Director of Transportation and Drainage Operations for the City of Houston. She is also the co-founder and former Managing Partner at Nspiregreen LLC. She is one of the co-founders of Black Women Bike (BWB). She was the Vice President and City of Houston representative on the National Association of City Transportation Officials. She earned her dual Master’s Degrees (engineering management and regional planning) from Cornell University and a Bachelor of Science in civil engineering from the University of Maryland. In July 2012, the White House recognized her as a Champion of Change and Transportation Innovator for her professional accomplishments and community advocacy in transportation. She currently lives in Baltimore, MD, with her husband and child. 2:45 p.m. - 3:00 p.m. Annual Membership Meeting 3:00 p.m. - 4:30 p.m. Counties Can Do Redevelopment Too - The Polk County Experience While CRAs tend to be city-oriented, redevelopment also occurs in counties. Over the past couple of years, Polk County has reinvigorated its redevelopment efforts using various methods and techniques. This session will summarize these efforts and also provide examples of how to do redevelopment without a CRA. 792 #FRA2025 • 8 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATIONFRIDAY, OCTOBER 17, 2025 8:00 a.m. - 10:00 a.m. Registration Desk Open 8:30 a.m. - 9:30 a.m. Light Continental Breakfast 8:30 a.m. - 11:30 a.m. Breakfast with the Experts Enjoy a light continental breakfast at this flexible networking session. Breakout groups will focus on redevelopment hot topics such as affordable housing, ongoing maintenance in a CRA, and many more. This will be a great opportunity to network, share success stories, and learn from your peers. 9:30 a.m. - 11:30 a.m. Hot Legal Topics in Redevelopment Join us as we hold a session on hot legal topics regarding redevelopment. We will have our best CRA legal minds discuss the 2019 changes to Florida Statutes, Chapter 163, Part III, recent updates to Florida Statutes, Chapter 189, and legislation on topics impacting redevelopment and CRAs. 9:30 a.m. - 11:30 a.m. Part 1: Unlocking Funding for Redevelopment: Grants, Incentives, and Creative Strategies Explore the multifaceted world of funding redevelopment projects, focusing on securing grants, offering grants as incentives, and exploring other innovative funding strategies. Attendees will gain insights into the latest trends, best practices, and practical approaches to finance their redevelopment initiatives effectively with real-life examples of the positive outcomes. Part 2: Don’t Take Your Funding for Granted: Using Grants of All Sizes to Catalyze Redevelopment in Your CRA Many CRAs have initiatives aimed at revitalizing the district and attracting new businesses to the community. These programs can take the shape of awarding grants for residences and businesses alike so that they can make improvements without facing major economic hardships. Some programs that will be discussed are a Home Preservation Program, Residential Improvement Matching Grant, Residential Paint Program, and Commercial Facade Program. This session will explore these residential and commercial grant options with advice on how to successfully implement or revamp your CRA grant programs. 11:30 a.m. Conference Adjourns 793 #FRA2025 • 9 THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION Full Name: ____________________________________________ Nickname (for badge): ____________________________ Title: ______________________________________________ Organization: _____________________________________ Email: ___________________________________________________________ Phone: ____________________________ Guest/Spouse** (if purchasing): ____________________________ Nickname (for badge): ___________________________ REGISTRATION TYPE MEMBER NONMEMBER TOTALS Full Registration (October 14-17, 2025) $395.00 $495.00 ______ Full Registration (October 14-17, 2025 – After September 26) $495.00 $595.00 ______ CRA Board Training Course (October 15 at 8:00 a.m.)$50.00 $50.00 ______ Tour (bus): West Palm Beach/Riviera Beach (October 15 at 7:15 a.m.)$50.00 $50.00 ______ Tour (bus): Delray Beach/Boynton Beach (October 15 at 7:15 a.m.)$50.00 $50.00 ______ Tour (bus): Lake Worth/West Gate (October 15 at 7:15 a.m.)$50.00 $50.00 ______ Tour (walking): City Place/Downtown (October 15 at 7:15 a.m.)$50.00 $50.00 ______ Guest/Spouse Registration** (October 14-17, 2025)$325.00 $325.00 ______ Extra Ticket: Academy Graduation and Awards Banquet (October 16 at 6:30 p.m.) (The banquet ticket is included with a full registration and a guest registration. If attending the banquet only and not attending conference, a banquet ticket must be purchased.)$75.00 $75.00 ______ TOTAL $ _________ Online Registration – Credit Cards Only: Click here to register online and pay with a credit card. The FRA accepts Visa, Mastercard or American Express. Mail Registration – Checks Only: Complete the registration form if you are paying by check. Mail the registration form and check to the Florida Redevelopment Association Annual Conference, P.O. Box 1757, Tallahassee, FL 32302 by October 10, 2025. Registration Deadline: After 5:00 p.m. on September 26, 2025, registrations are subject to a $100.00 fee increase. Online registration closes on October 10, 2025. Special Needs: If you require special services or have dietary needs, please attach a written description to your registration form. Cancellation Policy: Conference registration cancellation requests must be emailed to mmontgomery@flcities.com no later than 5:00 p.m. on September 26, 2025, to be eligible for a conference registration refund. A $50.00 cancellation fee will be applied to all cancellations. Refunds will be issued after the conference. No refunds will be made after September 26, 2025, or for early departure from the conference. 2025 FRA ANNUAL CONFERENCE REGISTRATION FORM Hilton West Palm Beach • West Palm Beach • October 14-17, 2025 Florida Redevelopment Association P.O. Box 1757 • Tallahassee, FL • 32302-1757 • 850.701.3636 • mmontgomery@flcities.com THE FLOTHE FLORRIDAIDA ASSOCIATIONASSOCIATION 794 Meeting Minutes Special Community Redevelopment Agency Boynton Beach, Florida August 29, 2017 It was noted the vote was to accept the rankings and start negotiations with Centennial and go before the CRA Advisory Board and come back to the Board in September. It was noted the SAIL application is due October 5 to the Florida Housing Finance Agency. Centennial would need contract and site plan approval form filled out and verification of utilities. The Advisory Board could review the presentation next week and before the regular September CRA meeting. The members discussed if they were awarded the 4% SAIL, if they could apply for the 9%, however, the timeline is Centennial would have to accept the SAIL if awarded. Vice Chair Katz favored seeking the 9% first and if that failed, the opportunity for CRA financing this year as the option. Ms. Ramel us agreed as did Mr. Casella. There was consensus to apply for the 9% and then discuss the non -competitive bids after the 9% application which is due in early September . Mr. Simon asked if there was any interest to move forward with acquisition by Centennial while they are going through the non-competitive application. Chair Grant wanted the CRA Advisory Board to review it because they have a little bit more time if they do not get 9%. If they do not receive the 9% credits, they could still apply for the 4% credits. Mr. McCray requested a copy of who voted for what and iearned it could be obtained via public records request. There was agreement for the Advisory Board to review the proposal and come back in September to finalize negotiations. VI. New Business A. Discussion and Consideration of CRA Advisory Board Attendance at the 2017 Florida Redevelopment Conference Mr. Simon explained the budget allows for funding for travel to the above. Last year several members of the Advisory Board attended the conference. Due to information and deadlines for registrations , staff understood the Advisory Board members were approved. Last year, the CRA Board wanted to approve attendance for the next Conference. This year, the Conference is October 17th through October 20 1h. Mr. Casella asked if it was legal for CRA Advisory Board members to attend and learned it was and other elected officials who are not part of the Board attended. It was a Board decision. He suggested members that did not go last year attend. Attorney Rosamell suggested issuing a public notice the advisory board members would attend . Mr. McCray asked about this because this is the only advisory board that was sending its members to a conference. No other Board does so. He noted legal indicated it was as long as it is okay. Chair Grant favored paying the registration and conference, but not the mileage and meals. He thought there was a learning aspect and perhaps the Chair of other advisory boards, if there is a conference , they receive reimbursement for the lodging and registration. 19 795 Meeting Minutes Special Community Redevelopment Agency Boynton Beach, Florida August 29, 2017 David Katz, 67 Midwood Lane, objected to the allocation last year. He noted Vice Chair Katz questioned it last year and Mr. Casella agreed with Vice Chair Katz comments. Chair Gant was concerned about the responsibility to the taxpayers. Commissioner Romelus believed education and a conference would yield a better product. Mr. Katz explained as the Chair of the Planning and Development Board, he calls the member beforehand and recommends they go to staff and ask questions. The CRA has a Director and Assistant Director that could provide the same information without the cost if they attended and advise the advisory board members about the conference . If all seven advisory board members attended, it would cost $8,400. Mr. Katz pointed out last year members of the Planning and Development Board attended a conference in Palm Springs and paid $25 each. The members did not get reimbursed and he did not support reimbursement as they are volunteering, The backup for the prior item was not provided to the public and staff had informed him it was against the Florida statute. He thought Statute 163 was specific about what CRA tax money can be spent on and advised it was for Board members and it never mentions an advisory board. He hoped it would not result in ethics complaints noting the CRA Advisory Board is not quasi-judicial. He thought it was not right to send the advisory board members on a trip with taxpayer funds. If may be legal, but it may not be right. He read a passage from James Madison "I cannot undertake to lay my finger on that article of the constitution which granted a right to Congress of expending on objects of benevolence the money of their constituents." Mr . Katz thought it was unwarranted. No public comments were received. Vice Chair Katz agreed it opens a slippery slope and there is no one more important than another. He thought someone could go and convey information and obtain materials and resources to provide an education locally. He agreed with Mr. Katz' comments. If he supported the request, he would send the liaison for any advisory board if there is a worthwhile learning event. Ms. Romelus favored sending three members and asked how many Board members are going to the conference in October. Mr . McCray responded he had not made his decision. She thought no one was going and thought if there were funds allocated and if individuals attended and brought information back, it would be helpful. The Advisory Board is asked to review things that are high level. She thought the advisory Board can rotate attendance, if CRA board members are not going. She noted Linda Cross attends every CRA meeting and thought she should attend. Ms. Romelus attended the conference last year and she learned a lot. They are volunteers. If none of the CRA Board members are going , she thought the offer should be extended to the Advisory Board. They will have a benefit. Mr. McCray noted Mr. Pollack, Vice Chair of the Advisory Board was present. Chair Grant looked up the quote from Madison and said it was different because it was about spending tax dollars to help French refugees from the Haitian revolution from 20 796 Meeting Minutes Special Community Redevelopment Agency Boynton Beach, Florida August 29, 2017 Wikipedia. He was aware City Boards have community support funds. He thought part of the new way of government is helping the community and he thought a report should be given. Last year, Linda Cross, the CRA Advisory Board Chair provided a report. He favored limiting the conference to two members and the CRA AB can decide who would go. Mr. Casella thought a rotating basis would be appropriate with the first choice of who to send be someone who has attended in the past. Just lodging and conference expenses would be paid. Mr. Pollack advised most of the Board works and they need months in advance to schedule attending in October . He thought it was a good idea and two people should go. They could learn and come back . There was consensus to limit the conference to two persons and to limit the cost to conference fees and lodging. Vice Chair Katz favored a cap at $1,200 and they could reimburse for lodging. Chair Grant liked the registration and the lodging, not mileage or meals. Commissioner McCray did not approve of it. Mr. Casella was fine with the registration and lodging. Ms. Romelus was also fine with the discussion. Chair Grant requested a motion to allow two members of the CRA Advisory Board with funding allowed for lodging and registration. This would become a policy so the do not have to return to the Board for approval next year Motion Commissioner Romelus moved to approve. Mr. Casella seconded the motion that passed 4-1 (Commissioner McCray dissenting.) VII. Adjournment Motion Ms. Romelus moved to adjourn. Mr. McCray seconded the motion that unanimously passed . The meeting was adjourned at 9:56p.m . ~bJL &-W-LL- Catherine Cherry (J Minutes Specialist 21 797 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.F SUBJECT: Continued Discussion and Consideration of Budget Funding Towards the Neighborhood Officer Program ("NOP") Sergeant Position SUMMARY: On May 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 Officer Program (NOP), code enforcement, and beautification efforts. At the July 8, 2025 Board Meeting, the CRA Board discussed a list of potential options (see Attachment I) and CRA staff/legal met with City staff on July 21, 2025, to discuss the budgets and programs in more detail. At the August 12, 2025 meeting, the Board was presented with the following: BEAUTIFICATION AND STREETS Proposal: $147,000 in funding for 2 new positions for “Beautification Technician (CRA)” Details: These technicians will enhance the publicly owned areas (including rights-of- way) within the CRA area, including park entrances, medians, and along federal highway, and may assist with landscape/landscape design of medians. The City will continue to fund normal maintenance activities. CODE ENFORCEMENT Proposal: $308,964 in funding for 4 new code enforcement officers to focus only on the CRA area. Details: Currently, the vast majority of code enforcement issues are in the CRA area. The four new officers will focus on outreach and remediation, and will work offset schedules to increase visibility and hours of service. Responses to complaints will be handled by ordinary code enforcement; however, the new officers can of their own volition seek enforcement. The officers will coordinate with NOP, and will work with the City’s existing community improvement program. The intent of this program is that the officers are proactive and work with CRA residents/businesses. NOP Proposal: $241,000 in funding for one new sergeant. Details: The CRA will provide funding for 100% of the costs of a sergeant who will be 798 •Attachment I - Beautification and Code Enforcement Efforts Information Sheet •Attachment II - Sergeant Justification Letter •Attachment III - August 18, 2025 Email to Board entirely assigned to the NOP program. This position is in addition to the existing NOP officer positions. At the August meeting, the CRA Board approved the funding recommendations and directed staff to move forward with implementing the new initiatives for the Beautification and Streets and Code Enforcement. In regards to the NOP full-time sergeant request, the Board requested additional information for the position. On August 18, 2025, CRA staff received additional background information from the BBPD for the NOP sergeant position (see Attachment II). The information was then shared with each Board member on August 18, 2025, via email (see Attachment III). A representative will be in attendance at the meeting to answer any additional questions the Board may have. 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 799 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. 800 The Community Redevelopment Association’s (CRA’s) Police Sergeant's position is being requested for the following reasons: At present, the Police Department's Special Operations Captain supervises a total of 38 employees dispersed amongst 7 units and has 5 first line supervisors (Sergeants) to assist. The Units Supervised and their designated staffing level (DSL) and current staffing level are as follows: 1. The Traffic Unit which also consists of the Red Light/School Speed Camera Program has a DSL of seventeen and a current staffing level of thirteen. This unit also has 1 Sergeant and one Civilian Supervisor. The Civilian Supervisor is responsible for oversight of the Red Light/Speed Camera programs and presently supervises 2 Police Service Aids. 2. The CRA Unit has a DSL of 4 Officers, is fully staffed and is directly supervised by the Special Operations Captain. 3. The Marine Unit has a DSL of 2 fulltime officers and 3 part time officers and is directly supervised by the Special Operations Captain. This unit is currently fully staffed. 4. The Canine Unit has a DSL of 4 fulltime sworn personnel, one of which is a Sergeant who also has a K9 assigned to him. This unit is presently fully staffed. 5. The Community Response Team’s DSL is 6 sworn personnel, 1 Sergeant & 5 Officers and is presently fully staffed. 6. The Field Training Officer Program is staffed with one fulltime Sergeant and the officers assigned to this unit vary contingent on the number of officers who are in the field training program. This staffing can range from none to as high as 10 during any given period of time. 7. The Community Relations Unit has a DSL of 4, 1 Sergeant and 3 officers. This unit is currently understaffed by 1 officer. More importantly than the number of personnel supervised by the Special Operations Captain, is the department’s practice of having a Sergeant supervise a unit of between 4 to 12 personnel to ensure a proper span of control. As an example, a Road Patrol Captain has the span of control over a platoon of up to eighteen Officers and 3 Sergeants. This staffing level inherently creates a supervisory responsibility for a Sergeant of up to 6 Road Patrol Officers. Furthermore, the department’s Investigative Services Section is commanded by a Major and consists of thirty-six (36) positions divided amongst 6 Units. Four of the Units have Sergeant’s assigned to them and the remaining two Units consist of 5 personnel who report directly to the Commander of Investigative Services. The addition of a Sergeant to supervise the 4 CRA Officers, would provide an extra officer to participate in policing, community outreach, attending meetings and planning and covering events in the CRA District. This Sergeant would also be accountable for ensuring that citizen complaints are properly addressed, assigned and prompt action is taken to resolve community concerns. Furthermore, the CRA Sergeant would also be answerable for the day to day actions of the officers in the Unit and for ensuring they focus on the NOP’s priorities as outlined. Moreover, having a Sergeant oversee the day to day operations of a unit greatly assists with productivity because there is consistent accountability and assurance to mission focus. Presently, the Special Operations Captain oversees the day to day operations of the CRA, but is unable to put in the consistent direct oversight hours a designated Sergeant could. If approved, the CRA Sergeant would be more available, attentive and focused on the CRA District and the needs of the CRA Staff. Finally, the CRA unit has historically had a Sergeant supervising the CRA, but due to the growth of the police department, the 801 department is unable to place a Sergeant in this position without financial assistance from the CRA. The PD asserts, the Sergeant (if approved) would be spending all of his/her time overseeing and directing the CRA Officers, community outreach, attending meetings and planning and covering events in the CRA District. The addition of a CRA Sergeant would undoubtedly increase the efficiency and effectiveness of an already productive community focused unit. 802 From:Nicklien, Bonnie Cc:Tack, Timothy; Kathryn B. Rossmell Bcc:Shelton, Rebecca; Hay, Woodrow L.; Kelley, Aimee; Cruz, Angela; Turkin, Thomas Subject:FW: Justification for CRA Sergeant Date:Monday, August 18, 2025 2:48:00 PM Attachments:image001.png SergeantJustification_CRAFY2026 (004).docx Good Afternoon CRA Board Chair and Board Members, As a follow up to the August 12, 2025 CRA Board Meeting, the BBPD has provided the attached document for the NOP full-time Sergeant position. This will also be included on the September 9, 2025 CRA Board Meeting agenda. In the meantime, please feel free to reach out with any questions. Best Regards, Bonnie From: Burdelski, Steven <burdelskis@bbfl.us> Sent: Monday, August 18, 2025 1:24 PM To: Nicklien, Bonnie <NicklienB@bbfl.us> Subject: Justification for CRA Sergeant Please see the justification document supporting the CRA Sergeant. Chief DeGiulio has approved the attached document. Respectfully, Captain Steven Burdelski Uniformed Services\Special Operations Boynton Beach Police Department Burdelskis@bbfl.us Office: (561) 742-6115 803 The Community Redevelopment Association’s (CRA’s) Police Sergeant's position is being requested for the following reasons: At present, the Police Department's Special Operations Captain supervises a total of 38 employees dispersed amongst 7 units and has 5 first line supervisors (Sergeants) to assist. The Units Supervised and their designated staffing level (DSL) and current staffing level are as follows: 1. The Traffic Unit which also consists of the Red Light/School Speed Camera Program has a DSL of seventeen and a current staffing level of thirteen. This unit also has 1 Sergeant and one Civilian Supervisor. The Civilian Supervisor is responsible for oversight of the Red Light/Speed Camera programs and presently supervises 2 Police Service Aids. 2. The CRA Unit has a DSL of 4 Officers, is fully staffed and is directly supervised by the Special Operations Captain. 3. The Marine Unit has a DSL of 2 fulltime officers and 3 part time officers and is directly supervised by the Special Operations Captain. This unit is currently fully staffed. 4. The Canine Unit has a DSL of 4 fulltime sworn personnel, one of which is a Sergeant who also has a K9 assigned to him. This unit is presently fully staffed. 5. The Community Response Team’s DSL is 6 sworn personnel, 1 Sergeant & 5 Officers and is presently fully staffed. 6. The Field Training Officer Program is staffed with one fulltime Sergeant and the officers assigned to this unit vary contingent on the number of officers who are in the field training program. This staffing can range from none to as high as 10 during any given period of time. 7. The Community Relations Unit has a DSL of 4, 1 Sergeant and 3 officers. This unit is currently understaffed by 1 officer. More importantly than the number of personnel supervised by the Special Operations Captain, is the department’s practice of having a Sergeant supervise a unit of between 4 to 12 personnel to ensure a proper span of control. As an example, a Road Patrol Captain has the span of control over a platoon of up to eighteen Officers and 3 Sergeants. This staffing level inherently creates a supervisory responsibility for a Sergeant of up to 6 Road Patrol Officers. Furthermore, the department’s Investigative Services Section is commanded by a Major and consists of thirty-six (36) positions divided amongst 6 Units. Four of the Units have Sergeant’s assigned to them and the remaining two Units consist of 5 personnel who report directly to the Commander of Investigative Services. The addition of a Sergeant to supervise the 4 CRA Officers, would provide an extra officer to participate in policing, community outreach, attending meetings and planning and covering events in the CRA District. This Sergeant would also be accountable for ensuring that citizen complaints are properly addressed, assigned and prompt action is taken to resolve community concerns. Furthermore, the CRA Sergeant would also be answerable for the day to day actions of the officers in the Unit and for ensuring they focus on the NOP’s priorities as outlined. Moreover, having a Sergeant oversee the day to day operations of a unit greatly assists with productivity because there is consistent accountability and assurance to mission focus. Presently, the Special Operations Captain oversees the day to day operations of the CRA, but is unable to put in the consistent direct oversight hours a designated Sergeant could. If approved, the CRA Sergeant would be more available, attentive and focused on the CRA District and the needs of the CRA Staff. Finally, the CRA unit has historically had a Sergeant supervising the CRA, but due to the growth of the police department, the 804 department is unable to place a Sergeant in this position without financial assistance from the CRA. The PD asserts, the Sergeant (if approved) would be spending all of his/her time overseeing and directing the CRA Officers, community outreach, attending meetings and planning and covering events in the CRA District. The addition of a CRA Sergeant would undoubtedly increase the efficiency and effectiveness of an already productive community focused unit. 805 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.G SUBJECT: Discussion and Consideration of the Adoption of "Exhibit A" to the Interlocal Agreement between the Boynton Beach CRA and the City of Boynton Beach for Funding Construction and Professional Services SUMMARY: Following the FY 23-24 Budget approval in September 2023, the CRA and City entered into an Interlocal Agreement (ILA) to provide CRA funding for design activities, materials and equipment, and installation costs associated with the physical improvements for specific projects as outlined in the CRA's Project Fund (see Attachment I). The ILA details the responsibilities of the City and CRA, the procedures for reimbursement funding to the City, and the reporting requirements by the City to ensure compliance with the Plan and Florida Statutes. As an overview, the City will be responsible for overseeing the projects, coordinating with the contractor(s) and other entities as necessary for the completion of the projects. Additionally, the City will also be responsible for the maintenance of the improvements as a result of the project, along with contracting with other entities as necessary to comply with applicable codes. Per Paragraph 4 of the ILA, Exhibit A shall be updated at least annually. The FY 24-25 Exhibit A was approved as Attachment II. Beginning in April 2025, CRA and City staff met to discuss upcoming projects to include in the FY 25-26 Budget discussions. Coordination meetings with City staff were held on April 15th, May 1st, June 5th, July 2nd and August 15th (see Attachment III). On August 26, 2025, City staff confirmed the final Exhibit A as attached. Attachment IV is the FY 25-26 Exhibit A which has also been incorporated in the FY25-26 Project Fund Budget. The City Commission will also review and adopt Exhibit A on September 18, 2025. FISCAL IMPACT: FY 2023-2024 Budget, Project Fund, Line Item 02-58200-406, $575,000 FY 2024-2025 Budget, Project Fund, Line Item 02-58200-406, $1,950,000 806 •Attachment I - R23-161 - ILA for Funding Construction and Professional Services •Attachment II - R24-251 Adoption of Exhibit A •Attachment III - City/CRA Meeting Recaps •Attachment IV - FY 25-26 Exhibit A CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: 1. Approve the Adoption of "Exhibit A" to the Interlocal Agreement between the Boynton Beach CRA and the City of Boynton Beach for the Interlocal Agreement for Funding Construction and Professional Services. 2. Do not approve the Adoption of "Exhibit A" to the Interlocal Agreement between the Boynton Beach CRA and the City of Boynton Beach for the Interlocal Agreement for Funding Construction and Professional Services. 3. Provide alternative direction based on CRA Board discussion. ATTACHMENTS: Description 807 808 809 810 811 812 813 814 815 816 817 818 RESOLUTION NO. R24-251 2 3 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON 4 BEACH, FLORIDA, APPROVING THE UPDATED EXHIBIT A TO THE 5 INTERLOCAL AGREEMENT FOR FUNDING CONSTRUCTION AND 6 PROFESSIONAL SERVICES WITH THE CITY OF BOYNTON BEACH 7 COMMUNITY REDEVELOPMENT AGENCY; AND FOR ALL OTHER 8 PURPOSES. 9 10 WHEREAS, the City and the City of Boynton Beach Community Redevelopment Agency 11 ("CRA") entered into an Interlocal Agreement for Funding Construction and Professional Services, 12 approved by Resolution No. R23-161 on November 7, 2023; and 13 WHEREAS, pursuant to section 4 of the Interlocal Agreement, Exhibit A to the Interlocal 14 Agreement may be updated at any time by the mutual consent of both parties and shall be is updated at least annually in form mutually consented to by both parties. At such time as each 16 party adopts an identical Exhibit A in a duly noticed public meeting, the Agreement shall be 17 deemed amended such that the most recently adopted Exhibit A replaces the prior version of 18 Exhibit A of the Agreement without further action by the parties; and 19 WHEREAS, the City Commission, upon the recommendation of staff, has deemed it in the 20 best interests of the city's citizens and residents to approve the updated Exhibit A to the Interlocal 21 Agreement for Funding Construction and Professional Services with the City of Boynton Beach 22 Community Redevelopment Agency. 23 24 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON 25 BEACH, FLORIDA, THAT: 26 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as 27 being true and correct and are hereby made a specific part of this Resolution upon adoption. 28 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby 29 approve the updated Exhibit A to the Interlocal Agreement for Funding Construction and 30 Professional Services with the City of Boynton Beach Community Redevelopment Agency, in form 31 and substance similar to that attached as "Exhibit A." 32 819 33 SECTION 3. The Interlocal Agreement with the updated Exhibit A shall be retained by 34 the City Clerk as a public record of the City. A copy of the Interlocal Agreement with the updated 35 Exhibit A shall be provided to the CRA. 36 SECTION 4. This Resolution shall take effect in accordance with law. 37 4k)( 04)1 el---38 PASSED AND ADOPTED this I J day of 2024. 39 CITY OF BOYNTON BEACH, FLORIDA 40 YES/ NO 41 Mayor-Ty Penserga 42 L . 43 Vice Mayor-Aimee Kelley 44 45 Commissioner-Angela Cruz 46 47 Commissioner-Woodrow L. Hay 48 49 Commissioner-Thomas Turkin 4r - ,c--00-1‘CJ-o$ 50 51 VOTE 41-1) 52 ATT. 53 se__--e- I__ , is ,ty54 55 Maylee be J= us, MPA, MC , ,, T• --1'rga 56 City Cle k4)r=oyNTON' ` or 57 i O..oik URgTE'. F9 lii 58 SEAL •.. i APPROVED AS TO FORM: 59 (Corporate Seal)i ': i 60 INCORPORATED; i1920 : tt 62 F OR„Shawna G. Lamb 63 City Attorney 820 EXHIBIT "A" Fiscal Year 2024-2025 Projects City Project Name BBCRA Funding Project# 1 MLK Jr. Boulevard Streetscape Improvements $250,000 (design) 550,000 (construction) 2 US 1 Beautification Project Design 100,000 3 Pence Park Design & Permit 400,000 4 Harvey Oyer Park Pier Survey& Design 100,000 5 Senior Center Design 100,000 6 Jaycee Park Design 100,000 7 Centennial Park Improvement Designs 500,000 8 Cottage District Road Improvements Design 200,000 9 Ocean Avenue Bridge 225,000 821 1 Nicklien, Bonnie Subject:BBCRA/City Coordination Meeting RE: HB991 Project Planning Location:CR - City Hall - RM 434; CR - City Hall - RM 440 Start:Tue 4/15/2025 1:30 PM End:Tue 4/15/2025 2:30 PM Recurrence:(none) Meeting Status:Meeting organizer Organizer:Nicklien, Bonnie Required Attendees:Utterback, Theresa; Tack, Timothy; Temple, Adam N.; Mack, Andrew; Dugger, Daniel; Walls, Candace; CR - City Hall - RM 440 Resources:CR - City Hall - RM 434 Per the April 8th Special Joint MeeƟng, we are scheduling a coordinaƟon meeƟng to discuss potenƟal projects in order to report back to the City Commission/CRA Board at their May meeƟngs. Please forward to any addiƟonal aƩendees. Thank you. 822 From:Nicklien, Bonnie To:Tack, Timothy; Utterback, Theresa Subject:City/CRA Joint Meeting Recap 4/15/25 Date:Tuesday, April 22, 2025 12:57:00 PM Importance:High CRA/City Staff met on April 15, 2025 as a follow-up to the CRA/City Special Meeting on April 8th. Meeting participants: Andrew Mack Candance Walls Adam Temple Tim Tack Theresa Utterback Bonnie Nicklien Discussion Items: CRA asked the City for pipeline projects we could partner on. A few of the items discussed: 4th Streetscape Improvement (remove the median/widen the sidewalks for future redevelopment Pence Park Construction (additional funding needed) New entry feature/signage Relocate the HOB park to E. MLK Jr Blvd (CRA properties) Sewall replacement HOB Streetscape, sidewalks, paving alleyways We also reviewed the current projects in the Master ILA and determined that a separate meeting would be needed to review the status and reimbursement of each item. A meeting is scheduled for May 1st at 2:00 PM and includes multiple department heads and project leaders. Some of the big ticket items under the Master ILA are: US 1 Streetscape Improvement MLK Streetscape Pence Park Jaycee Park Centennial Park We also discussed that the SB/HB status would be known prior to the next CRA Board meeting and that Andrew could attend the CRA meeting in May to help answer any questions the Board may have regarding the joint projects/future projects 823 1 Nicklien, Bonnie Subject:BBCRA/City Update on Master ILA Projects Location:CR - City Hall - RM 440 Start:Thu 5/1/2025 2:00 PM End:Thu 5/1/2025 3:00 PM Recurrence:(none) Meeting Status:Meeting organizer Organizer:Nicklien, Bonnie Required Attendees:Tack, Timothy; Utterback, Theresa; Mack, Andrew; Dugger, Daniel; Ramsey, Kevin; Hoffer, Richard (Rick); Abdurakhmanov, Moisey; Webber, Keith; Hill, Vicki Optional Attendees:Frumenti, Carl; Murray, Jose; Kalkat, Poonam Resources:CR - City Hall - RM 440 Good AŌernoon Everyone, We are requesƟng a meeƟng to review the current status and reimbursements of the projects outlined in the Master ILA (aƩached) and summarized below. Can you please forward the invite to any addiƟonal team members who should be apart of the meeƟng? Updated with Teams Invite Info below. Thank you! CRA District Project Item BBCRA Funding DescripƟon Heart of Boynton MLK Jr. Boulevard Streetscape Improvements $800,000 Project Survey & Design & ConstrucƟon: Punch through on NE 2nd to 9th, drainage. Federal Highway US 1 BeauƟficaƟon Project Design $100,000 Landscaped median design Downtown Pence Park ReconstrucƟon $400,000 Conceptual Drawings/Design and Permiƫng Federal Highway Harvey Oyer Park Pier Survey & Design $100,000 Survey, Conceptual Drawings, and Master Plan Downtown Senior Center ReconstrucƟon $100,000 Survey, Conceptual Drawings and Master Plan Federal Highway Jaycee Park Improvements $100,000 Survey, Design and Permiƫng for Playground relocaƟon, added green space and parking lot expansion Cultural Centennial Park Improvement Designs $500,000 Design, Permiƫng and ConstrucƟon Heart of Boynton CoƩage District Road Improvements $200,000 Paving for NE 4th Avenue widening Federal Highway Ocean Avenue Bridge LighƟng $225,000 For painƟng light poles over the bridge and revamping lighƟng under the bridge. 824 2 ________________________________________________________________________________ Microsoft Teams Need help? Join the meeting now Meeting ID: 260 435 923 041 7 Passcode: Zn22dt7R Dial in by phone +1 872-215-6235,,657652212# United States, Chicago Find a local number Phone conference ID: 657 652 212# For organizers: Meeting options | Reset dial-in PIN ________________________________________________________________________________ 825 From:Nicklien, Bonnie To:Mack, Andrew; Tack, Timothy Cc:Utterback, Theresa; Hill, Vicki; Webber, Keith; Kalkat, Poonam; Abdurakhmanov, Moisey; Murray, Jose; McDermott, Joshua; Hoffer, Richard (Rick); Ramsey, Kevin Subject:May 1, 2025 Master ILA City/CRA Meeting Recap Date:Monday, May 05, 2025 11:00:00 AM Hi Everyone, Thank you for your time last week to meet on the Master ILA Projects. I provided a summary of the meeting below. Please feel free to add any additional comments. We look forward to circling back as a group on June 4th. Meeting Attendees: Andrew Mack Tim Tack Theresa Utterback Vicki Hill Bonnie Nicklien Keith Webber Poonam Kalkat Moisey Abdurakhmanov Jose Murray Joshua McDermott Rick Hoffer Kevin Ramsey Meeting Notes: MLK Streetscape: will be resurfaced in the interim while the streetscape design begins; Utilities may have a grant for drainage on MLK Street between Seacrest and Federal Federal Highway: project includes landscape, hardscape, lighting; CRA to increase funding for the project limits in boundaries; planning two FY in advance of construction Pence Park: design will be completed in 2025 and construction begins in 2026. CRA may be able to provide additional funding pending a schedule for the project from the City. Kevin to coordinate and touch base with CRA of the schedule. Harvey Oyer Fishing Pier: design cost went up. CRA to increase the funding to match. City would like a Master Plan for Harvey Oyer Park. CRA could potentially help with Master Plan. CRA to increase Harvey line item to $200,000 Senior Center: City would like a concept drawing. Rollover the funding Jaycee Park: change to “planning” from “design.” Rollover the funding Centennial Park Improvements: design now; artificial turf, new curbing, remove sod beginning May 7th; CRA can pay for hardscape; fix ground lighting (LED); City to send the new contract total; CRA to increase closer to $750,000 (without design); Kevin to provide updated numbers to CRA Cottage District: still waiting on Developers Agreement – pending Pulte’s review. Shiloh to 826 reach out to Pulte: CRA to update to “resurfacing.” Number may go down. 4th Street: remove median, drainage and sidewalks; Add as a new project for design City Entry Features: City has the design and pending City Commission approval; Kevin working on pricing; City to budget $500,000; Ocean Avenue Bridge Lighting: painting and light retrofit; project PO’s; waiting on fixtures; hope to start the project in July; Project total came to $70K but leave the line item as $100K Woman’s Club: Moving balance to Master ILA for the crosswalk work; ILA will terminate in September 2025 Coquina Cove: new drainage, water, sewer, road (Keith to meet separately with Tim regarding details of project); Utilities has a grant but for only a small portion of the project Next Meetings: June 4, 2025 at 2PM July 2, 2025 at 2 PM Best Regards, Bonnie 827 1 Nicklien, Bonnie Subject:BBCRA/City Update on Master ILA Projects Location:CR - City Hall - RM 440 Start:Wed 6/4/2025 2:00 PM End:Wed 6/4/2025 3:00 PM Recurrence:Monthly Recurrence Pattern:the first Wednesday of every 1 month(s) from 2:00 PM to 3:00 PM Meeting Status:Accepted Organizer:Utterback, Theresa Required Attendees:Tack, Timothy; Nicklien, Bonnie; Mack, Andrew; Ramsey, Kevin; Dugger, Daniel; Hoffer, Richard (Rick); Abdurakhmanov, Moisey; Webber, Keith; Hill, Vicki; Kalkat, Poonam Optional Attendees:Frumenti, Carl; Murray, Jose; McDermott, Joshua; Curfman, Vicki Resources:CR - City Hall - RM 440 Per our meeƟng today, this the follow up meeƟng for the next three months. Please be sure to invite Jordan and any other team members who should be a part of the meeƟng. We will have an updated list at the next meeƟng. Thanks everyone! ________________________________________________________________________________ Microsoft Teams Need help? Join the meeting now Meeting ID: 231 368 845 215 9 Passcode: Am2pV2ru Dial in by phone +1 872-215-6235,,139430270# United States, Chicago Find a local number Phone conference ID: 139 430 270# For organizers: Meeting options | Reset dial-in PIN ________________________________________________________________________________ 828 1 Nicklien, Bonnie Subject:BBCRA/City Update on Master ILA Projects Location:CR - City Hall - RM 440 Start:Wed 6/4/2025 2:00 PM End:Wed 6/4/2025 3:00 PM Recurrence:Monthly Recurrence Pattern:the first Wednesday of every 1 month(s) from 2:00 PM to 3:00 PM Meeting Status:Accepted Organizer:Utterback, Theresa Required Attendees:Tack, Timothy; Nicklien, Bonnie; Mack, Andrew; Ramsey, Kevin; Dugger, Daniel; Hoffer, Richard (Rick); Abdurakhmanov, Moisey; Webber, Keith; Hill, Vicki; Kalkat, Poonam Optional Attendees:Frumenti, Carl; Murray, Jose; McDermott, Joshua; Curfman, Vicki Resources:CR - City Hall - RM 440 Per our meeƟng today, this the follow up meeƟng for the next three months. Please be sure to invite Jordan and any other team members who should be a part of the meeƟng. We will have an updated list at the next meeƟng. Thanks everyone! ________________________________________________________________________________ Microsoft Teams Need help? Join the meeting now Meeting ID: 231 368 845 215 9 Passcode: Am2pV2ru Dial in by phone +1 872-215-6235,,139430270# United States, Chicago Find a local number Phone conference ID: 139 430 270# For organizers: Meeting options | Reset dial-in PIN ________________________________________________________________________________ 829 1 Nicklien, Bonnie Subject:BBCRA/City Meeting: FY25/26 and FY26/27 CRA Funding Location:CR - City Hall - RM 440 Start:Thu 6/5/2025 8:30 AM End:Thu 6/5/2025 9:00 AM Recurrence:(none) Meeting Status:Accepted Organizer:Hoffer, Richard (Rick) Required Attendees:Hoffer, Richard (Rick); Tack, Timothy; Utterback, Theresa; Nicklien, Bonnie; Mack, Andrew; Ramsey, Kevin Optional Attendees:Hill, Vicki; Frumenti, Carl Resources:CR - City Hall - RM 440 Importance:High MeeƟng purpose: to Discuss/assure alignment between the CRA/City regarding CRA funding for the subject FYs in preparaƟon for finalizaƟon of the City’s CIP for next year. 830 From:Nicklien, Bonnie To:Mack, Andrew; Dugger, Daniel; Temple, Adam N. Cc:Tack, Timothy; Utterback, Theresa; Hill, Vicki Subject:August 15, 2025 City-CRA Management Meeting Recap Date:Monday, August 18, 2025 1:22:00 PM Attachments:25_0815_City-CRA Coordination Meeting.docx Hi Andrew and Adam, Attached are the meeting notes from Friday. We will share an abbreviated version with the CRA Board/City Commission. I have also scheduled the next coordination meeting for September 11th. Please reach out with any questions. Thanks, Bonnie 831 City of Boynton Beach and Boynton Beach CRA Coordination Meeting Agenda August 15, 2025 at 3:30 PM Conference Room 440 Meeting attendees: • Andrew Mack • Adam Temple • Tim Tack • Vicki Hill • Theresa Utterback • Bonnie Nicklien Land Acquisitions: 1. 670 Oak Street Property Acquisitions/Negotiations 2. Boynton Inn/Adjacent Property Assemblage 3. 1808 N. Federal Hwy (City Foreclosure) 4. Inlet Inn Motel/615 Oak Street Development: 1. City Infill Housing to include in CRA Infill Housing RFP 2. Hanover Public Parking Garage at 315 S. Federal Highway 3. 419 N. Seacrest Boulevard City Use 4. 209-217 N. Seacrest Boulevard Future Use Plan CRA Funded City Projects: 1. Programs guidelines/ILA needed for new Beautification team 2. Finalize program guidelines/ILA needed for new Code Enforcement team 3. Program guidelines/ILA needed for new BBPD Cameras at intersections/plazas 4. Program guidelines/ILA needed for Historic Planner 5. Program guidelines/ILA needed for Engineer/Project Manager 6. Master ILA Exhibit A Update per Budget Programs: 1. NOP Sergeant Additional Justification for FY25-26 Budget 2. Circuit Service Expansion in City 3. CRA Night Market and Spring Market Misc.: 832 1. Coquina Cover Security Gate Joint Public Meetings: 1. January 2026 2. May or June 2026 833 From:Nicklien, Bonnie To:Temple, Adam N.; Mack, Andrew Cc:Tack, Timothy; Utterback, Theresa; Hill, Vicki; Ramsey, Kevin; Dugger, Daniel; Hoffer, Richard (Rick) Subject:FY25-26 Master ILA Exhibit A Date:Tuesday, August 19, 2025 3:22:00 PM Attachments:FY25-26 Exhibit A Final.pdf Importance:High Good Afternoon Andrew and Adam, Can you please review and approve Exhibit A of the Master ILA for FY25-26? This coincides with our FY25-26 Proposed Budget. Regarding Project #16, we confirmed with legal it would be an eligible item for CRA funding. However, we defer to the City’s approval process for the implementation of the project. We will move forward with the adoption of Exhibit A on the September 9th CRA agenda. Can you please let me know what City Commission agenda it will fall on for CC approval? Thank you, Bonnie 834 From:Hoffer, Richard (Rick) To:Nicklien, Bonnie Subject:RE: FY25-26 Master ILA Exhibit A Date:Monday, August 25, 2025 3:47:45 PM Attachments:image001.png image002.png image003.png image004.png image005.png image006.png image007.png image227575.png image352422.png image740581.png image910880.png image016745.png image823371.png Hi Bonnie, reviewed and confirmed. Rick Richard (Rick) Hoffer Assistant Director of Public Works Public Works ‑ Administration Mailing Address:P.O. Box 310 |Boynton Beach, Florida 33425 Physical Address:100 E Ocean Ave | Boynton Beach, Florida 33435 561-742-6680 hofferr@bbfl.us | boynton-beach.org/ Open Data 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: Hoffer, Richard (Rick) Sent: Monday, August 25, 2025 11:42 AM To: Nicklien, Bonnie <NicklienB@bbfl.us> Subject: RE: FY25-26 Master ILA Exhibit A Hello Bonnie, yes will confirm by end of day or sooner. Reviewing and doing some coordination for final confirmation. Thanks! Rick From: Nicklien, Bonnie <NicklienB@bbfl.us> Sent: Monday, August 25, 2025 10:52 AM To: Hoffer, Richard (Rick) <hofferr@bbfl.us> Subject: RE: FY25-26 Master ILA Exhibit A Importance: High Hi Rick, Would you be able to confirm by end of the day? Our agenda items are due tomorrow. Thank you for your help with this! Bonnie Nicklien Grants and Project Manager Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 561-600-9090 |561-737-3258 NicklienB@bbfl.us | https://www.boyntonbeachcra.com Boynton Beach CRA Twitter page Boynton Beach CRA Facebook page Boynton Beach CRA Instagram Page 835 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: Hoffer, Richard (Rick) <hofferr@bbfl.us> Sent: Thursday, August 21, 2025 6:37 PM To: Mack, Andrew <MackA@bbfl.us> Cc: Tack, Timothy <TackT@bbfl.us>; Utterback, Theresa <UtterbackT@bbfl.us>; Hill, Vicki <HillV@bbfl.us>; Ramsey, Kevin <RamseyK@bbfl.us>; Dugger, Daniel <DuggerD@bbfl.us>; Nicklien, Bonnie <NicklienB@bbfl.us>; Temple, Adam N. <TempleA@bbfl.us> Subject: RE: FY25-26 Master ILA Exhibit A Yes will do City of Boynton Beach Sailfish Logo Richard (Rick) Hoffer Assistant Director of Public Works Public Works ‑ Administration Mailing Address:P.O. Box 310 |Boynton Beach, Florida 33425 Physical Address:100 E Ocean Ave | Boynton Beach, Florida 33435 561-742-6680 hofferr@bbfl.us | boynton-beach.org/ Follow Us On Social Media City of Boynton Beach Twitter page City of Boynton Beach Facebook page City of Boynton Beach Instagram Page Connect with us on Nextdoor Link to Download MyBoynton App City of Boynton Beach Open Data Web Page Open Data 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: Mack, Andrew <MackA@bbfl.us> Sent: Thursday, August 21, 2025 6:33 PM To: Nicklien, Bonnie <NicklienB@bbfl.us>; Temple, Adam N. <TempleA@bbfl.us> Cc: Tack, Timothy <TackT@bbfl.us>; Utterback, Theresa <UtterbackT@bbfl.us>; Hill, Vicki <HillV@bbfl.us>; Ramsey, Kevin <RamseyK@bbfl.us>; Dugger, Daniel <DuggerD@bbfl.us>; Hoffer, Richard (Rick) <hofferr@bbfl.us> Subject: RE: FY25-26 Master ILA Exhibit A Rick: Can you confirm this with Bonnie tomorrow or Monday. Thanks. City of Boynton Beach Sailfish Logo Andrew Mack, P.E., CBO, LEED AP Deputy City Manager City Manager's Office Mailing Address:P.O. Box 310 |Boynton Beach, Florida 33425 Physical Address:100 E Ocean Ave.| Boynton Beach, Florida 33435 561-742-6401 |561-742-6011 MackA@bbfl.us | boynton-beach.org/ Follow Us On Social Media City of Boynton Beach Twitter page City of Boynton Beach Facebook page City of Boynton Beach Instagram Page Connect with us on Nextdoor Link to Download MyBoynton App City of Boynton Beach Open Data Web Page Open Data 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: Nicklien, Bonnie <NicklienB@bbfl.us> Sent: Tuesday, August 19, 2025 3:22 PM 836 To: Temple, Adam N. <TempleA@bbfl.us>; Mack, Andrew <MackA@bbfl.us> Cc: Tack, Timothy <TackT@bbfl.us>; Utterback, Theresa <UtterbackT@bbfl.us>; Hill, Vicki <HillV@bbfl.us>; Ramsey, Kevin <RamseyK@bbfl.us>; Dugger, Daniel <DuggerD@bbfl.us>; Hoffer, Richard (Rick) <hofferr@bbfl.us> Subject: FY25-26 Master ILA Exhibit A Importance: High Good Afternoon Andrew and Adam, Can you please review and approve Exhibit A of the Master ILA for FY25-26? This coincides with our FY25-26 Proposed Budget. Regarding Project #16, we confirmed with legal it would be an eligible item for CRA funding. However, we defer to the City’s approval process for the implementation of the project. We will move forward with the adoption of Exhibit A on the September 9th CRA agenda. Can you please let me know what City Commission agenda it will fall on for CC approval? Thank you, Bonnie Bonnie Nicklien Grants and Project Manager Boynton Beach Community Redevelopment Agency 100 E. Ocean Ave.| Boynton Beach, Florida 33435 561-600-9090 |561-737-3258 NicklienB@bbfl.us | https://www.boyntonbeachcra.com Boynton Beach CRA Twitter page Boynton Beach CRA Facebook page Boynton Beach CRA Instagram Page 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 837 EXHIBIT "A" Fiscal Year 2025-2026 Projects City Project # Project Name BBCRA Funding 1 MLK Jr. Boulevard Streetscape Improvements Design & Construction $800,000 2 Federal Highway Streetscape $450,000 3 Pence Park Design, Permit & Construction $4,400,000 4 Harvey Oyer Park Pier Design & Permit $450,000 5 Senior Center Design $100,000 6 Jaycee Park Master Design $550,000 7 Centennial Park Improvement Design & Construction $750,000 8 Cottage District Road Improvement Design $200,000 9 Ocean Avenue Bridge Lighting $100,000 10 Federal Highway Crosswalk $600,000 11 4th Street Streetscape Improvement $250,000 12 Historic Woman’s Club of Boynton Beach $500,000 13 Entry Feature Signage $50,000 14 Town Square Hardening (Bollards) $200,000 15 Inn at Boynton Demolition $500,000 16 Neighborhood Security Gate $50,000 FY2025-2026 Total $9,950,000 838 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 OLD BUSINESS AGENDA ITEM 14.H SUBJECT: Continued Discussion and Consideration of Fiscal Year 2025-2026 Project Fund Budget SUMMARY: The Boynton Beach CRA is a quasi-governmental, Special District operating under Title XI, Chapter 163, Part III of the Florida Statutes. The agency's annual financial operations run on a fiscal calendar beginning on October 1st and ending on September 30th of each year. The CRA does not obtain its revenue from charging an additional tax. The CRA receives its annual funding based on a percentage share of the existing ad-valorem property taxes paid to the City of Boynton Beach and Palm Beach County. The CRA’s annual budget is comprised of three accounting funds: 1. The General Fund which contains the administrative, general operation, insurances, property maintenance and CRA/CRAB and marina related items; 2. The Debt Service Fund which contains the CRA’s financial debt obligations and encumbrances such as bond repayments and developer ’s tax increment funding agreements; and, 3. The Project Fund which contains all of the capital projects, development projects or initiatives, property acquisitions, local business grant programs or promotional events, as well as eligible innovative policing activities such as the Neighborhood Officer Program. At the first CRA budget meeting, the Board's Fiscal Year 2025-2026 Project Fund budget allocation discussion assisted in identifying the priority projects for the upcoming fiscal year, as well as, decided what funding amounts to provide to each proposed Project (see Attachment I). The Project Fund and overall budget breakdown will identify bond debt obligations, existing tax increment revenue funding agreements obligations and available funding for priority projects, programs or funding requests, such as but not limited to, the Neighborhood Officer Police Program, District Improvement Projects, Business Development and Promotional Events and Marketing. The CRA's Fiscal Year 2025-2026 Budget discussion occurred at the CRA Advisory Board (CRAB) meetings held on August 7th, as well as, the CRA Board’s July 8th, August 12th and September 9th meetings. Final approval and adoption of the CRA’s annual budget for Fiscal Year 2025-2026 by the Boynton Beach City Commission is anticipated to occur at their September 18, 2025 meeting. 839 •Attachment I - Fiscal Year 2025-2026 Proposed Budget 09/09/2025 FISCAL IMPACT: To be determined by the CRA Board based on discussion and direction. CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: To be determined by the CRA Board based on discussion and direction. ATTACHMENTS: Description 840 fiscal year 2025-2026 budget 841 842 15,148,443$ CRA Plan District Current Projects:Estimated FY 24/25 Rollover Balances as of 9/2/2025 CRA Board Proposed FY 25/26 Project Fund Allocations Project Fund Line Item Allocation Total (including any Rollover as of 9/2/2025) District Wide Adaptive Reuse for Historic Properties 300,000$ 1,050,000$ 1,350,000$ District Wide Business Development & Promotions 175,955$ 434,045$ 610,000$ District Wide Business Promotional Marketing 130,000$ 88,605$ 218,605$ District Wide COBB - BBPD Camera's (10) (CRA)-$ 60,000$ 60,000$ District Wide COBB - Beautification Technician (2) (CRA)-$ 147,000$ 147,000$ District Wide COBB - Code Enforcement Officers (4) (CRA) -$ 308,965$ 308,965$ District Wide COBB - Engineer/Project Manager (CRA)160,000$ -$ 160,000$ District Wide COBB - Historic Planner -$ 100,000$ 100,000$ District Wide Commercial Economic Redevelopment Grants 344,219$ 275,781$ 620,000$ District Wide Contingency 200,000$ 112,493$ 312,493$ District Wide CRA Plan 300,000$ -$ 300,000$ District Wide Development Project Related Legal Services -$ 280,000$ 280,000$ District Wide Neighborhood Officer Program (NOPs) 7th year of program -$ 1,213,870$ 1,213,870$ District Wide Parking Garage 2,000,000$ 500,000$ 2,500,000$ District Wide Professional Development Services 210,795$ 128,745$ 339,540$ District Wide Property Acquisition (HOB Grocery Store $2.5 mil)10,830,434$ 2,220,566$ 13,051,000$ District Wide Ride Share -$ 450,000$ 450,000$ District Wide Site Work, Demolition & Environmental 197,355$ 241,645$ 439,000$ Downtown District Marina ERM Monitoring Wells and Potential Remediation 263,913$ 36,087$ 300,000$ Downtown District Marina Seawall 3,250,000$ 250,000$ 3,500,000$ Downtown District Master ILA - 4th Street Streetscape Improvement -$ 250,000$ 250,000$ Downtown District Master ILA - Federal Highway Crosswalk -$ 600,000$ 600,000$ Downtown District Master ILA - Pence Park Design & Permit and Construction 400,000$ 4,000,000$ 4,400,000$ Downtown District Master ILA - Senior Center Design 100,000$ -$ 100,000$ Federal Highway Master ILA - Neighborhood Security Gate 50,000$ 50,000$ Federal Highway Master ILA - Entry Feature Signage -$ 50,000$ 50,000$ Federal Highway Master ILA - Federal Highway Streetscape 100,000$ 350,000$ 450,000$ Federal Highway Master ILA - Harvey Oyer Park Pier Design & Permit 100,000$ 350,000$ 450,000$ Federal Highway Master ILA - Historic Woman's Club of BB 500,000$ -$ 500,000$ Federal Highway Master ILA - Jaycee Park Master Design 100,000$ 450,000$ 550,000$ Federal Highway Master ILA - Ocean Avenue Bridge Lighting 100,000$ -$ 100,000$ Boynton Beach Blvd Master ILA - Inn at Boynton Beach Blvd Demolition 500,000$ 500,000$ Cultural Master ILA - Centennial Park Improvement Design and Construction 500,000$ 250,000$ 750,000$ Cultural Master ILA - Town Square Hardening (Bollards)200,000$ 200,000$ Heart of Boynton Master ILA - Cottage District Road Improvement Design 200,000$ -$ 200,000$ Heart of Boynton Master ILA - MLK Jr. Blvd Streetscape Improvements Design ($250k), MLK Streetscape ($550k)800,000$ -$ 800,000$ Heart of Boynton Local Match for stormwater 250,000$ -$ 250,000$ Boynton Beach Blvd Property Maintenance for Post Office 217 Seacrest 150,000$ -$ 150,000$ Cultural Splash Pad Planning and Design 50,000$ 50,000$ Federal Highway MLK Entry Feature Construction 199,359$ 150,641$ 350,000$ 21,862,030$ 15,148,443$ 37,010,473$ (0)$ BBCRA FISCAL YEAR 2025-2026 PROJECT FUND WORKSHEET Allocation Amount ALLOCATION BALANCE REMAINING 843 844 845 846 847 848 849 •Attachment I - R25-02 Budget Adoption FY 2025-2026 •Attachment II - FY 2025-2026 Budget Backup COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 NEW BUSINESS AGENDA ITEM 15.A SUBJECT: Consideration of Resolution No. R25-02 Adopting the CRA Budget for Fiscal Year 2025-2026 SUMMARY: On September 9, 2025, the CRA Board will be reviewing and adopting the proposed Fiscal Year 2025-2026 Project Fund, General Fund, and Debt Service Fund budgets for the Boynton Beach Community Redevelopment Agency. CRA Resolution No. R25-02 is the document recording the CRA Board's approval and acceptance of the CRA Fiscal Year 2025-2026 Budget and Projects (see Attachments I & II). With the approval of the Resolution, the CRA's Budget will be included with the City's Fiscal Year 2025-2026 annual budget package for review and ratification by the City Commission of the City of Boynton Beach at their September 18, 2025 meeting. FISCAL IMPACT: Adoption of the CRA's Fiscal Year 2025-2026 Budget CRA PLAN/PROJECT/PROGRAM: 2016 Boynton Beach Community Redevelopment Plan CRA BOARD OPTIONS: Approve Resolution No. R25-02 adopting the approved Boynton Beach Community Redevelopment Agency's Fiscal Year 2025-2026 Budget, subject to ratification by the Boynton Beach City Commission at their meeting to be held on September 18, 2025. ATTACHMENTS: Description 850 00551570-1 RESOLUTION NO: R25-02 RESOLUTION OF THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ADOPTING A BUDGET FOR THE FISCAL YEAR OCTOBER 1, 2025 TO SEPTEMBER 30, 2026, AND PROVIDING AN EFFECTIVE DATE. W I T N E SS E T H: WHEREAS, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (BBCRA), in order to implement its Community Redevelopment Plan and provide for its operating expenses, has prepared a Budget for the Fiscal Year beginning October 1, 2025, and ending September 30, 2026, attached hereto as Exhibit “I”; and WHEREAS, the Board has determined that said Budget is in the public’s interest and is necessary to implement the BBCRA’s goals and objectives. NOW, THEREFORE, BE IT RESOLVED THAT: 1. The Budget attached hereto as Exhibit “I” for financial operations of the Boynton Beach Community Redevelopment Agency for the period from October 1, 2025 through September 30, 2026 is hereby adopted. 2. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 9th day of September, 2025. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: __________________________ Rebecca Shelton, Chair R. Shelton ____ A. Cruz ____ W. Hay ____ T. Turkin ____ A. Kelley ____ 851 fiscal year 2025-2026 budget 852 853 15,148,443$ CRA Plan District Current Projects:Estimated FY 24/25 Rollover Balances as of 9/2/2025 CRA Board Proposed FY 25/26 Project Fund Allocations Project Fund Line Item Allocation Total (including any Rollover as of 9/2/2025) District Wide Adaptive Reuse for Historic Properties 300,000$ 1,050,000$ 1,350,000$ District Wide Business Development & Promotions 175,955$ 434,045$ 610,000$ District Wide Business Promotional Marketing 130,000$ 88,605$ 218,605$ District Wide COBB - BBPD Camera's (10) (CRA)-$ 60,000$ 60,000$ District Wide COBB - Beautification Technician (2) (CRA)-$ 147,000$ 147,000$ District Wide COBB - Code Enforcement Officers (4) (CRA) -$ 308,965$ 308,965$ District Wide COBB - Engineer/Project Manager (CRA)160,000$ -$ 160,000$ District Wide COBB - Historic Planner -$ 100,000$ 100,000$ District Wide Commercial Economic Redevelopment Grants 344,219$ 275,781$ 620,000$ District Wide Contingency 200,000$ 112,493$ 312,493$ District Wide CRA Plan 300,000$ -$ 300,000$ District Wide Development Project Related Legal Services -$ 280,000$ 280,000$ District Wide Neighborhood Officer Program (NOPs) 7th year of program -$ 1,213,870$ 1,213,870$ District Wide Parking Garage 2,000,000$ 500,000$ 2,500,000$ District Wide Professional Development Services 210,795$ 128,745$ 339,540$ District Wide Property Acquisition (HOB Grocery Store $2.5 mil)10,830,434$ 2,220,566$ 13,051,000$ District Wide Ride Share -$ 450,000$ 450,000$ District Wide Site Work, Demolition & Environmental 197,355$ 241,645$ 439,000$ Downtown District Marina ERM Monitoring Wells and Potential Remediation 263,913$ 36,087$ 300,000$ Downtown District Marina Seawall 3,250,000$ 250,000$ 3,500,000$ Downtown District Master ILA - 4th Street Streetscape Improvement -$ 250,000$ 250,000$ Downtown District Master ILA - Federal Highway Crosswalk -$ 600,000$ 600,000$ Downtown District Master ILA - Pence Park Design & Permit and Construction 400,000$ 4,000,000$ 4,400,000$ Downtown District Master ILA - Senior Center Design 100,000$ -$ 100,000$ Federal Highway Master ILA - Neighborhood Security Gate 50,000$ 50,000$ Federal Highway Master ILA - Entry Feature Signage -$ 50,000$ 50,000$ Federal Highway Master ILA - Federal Highway Streetscape 100,000$ 350,000$ 450,000$ Federal Highway Master ILA - Harvey Oyer Park Pier Design & Permit 100,000$ 350,000$ 450,000$ Federal Highway Master ILA - Historic Woman's Club of BB 500,000$ -$ 500,000$ Federal Highway Master ILA - Jaycee Park Master Design 100,000$ 450,000$ 550,000$ Federal Highway Master ILA - Ocean Avenue Bridge Lighting 100,000$ -$ 100,000$ Boynton Beach Blvd Master ILA - Inn at Boynton Beach Blvd Demolition 500,000$ 500,000$ Cultural Master ILA - Centennial Park Improvement Design and Construction 500,000$ 250,000$ 750,000$ Cultural Master ILA - Town Square Hardening (Bollards)200,000$ 200,000$ Heart of Boynton Master ILA - Cottage District Road Improvement Design 200,000$ -$ 200,000$ Heart of Boynton Master ILA - MLK Jr. Blvd Streetscape Improvements Design ($250k), MLK Streetscape ($550k)800,000$ -$ 800,000$ Heart of Boynton Local Match for stormwater 250,000$ -$ 250,000$ Boynton Beach Blvd Property Maintenance for Post Office 217 Seacrest 150,000$ -$ 150,000$ Cultural Splash Pad Planning and Design 50,000$ 50,000$ Federal Highway MLK Entry Feature Construction 199,359$ 150,641$ 350,000$ 21,862,030$ 15,148,443$ 37,010,473$ (0)$ BBCRA FISCAL YEAR 2025-2026 PROJECT FUND WORKSHEET Allocation Amount ALLOCATION BALANCE REMAINING 854 855 856 857 858 859 860 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 NEW BUSINESS AGENDA ITEM 15.B SUBJECT: Discussion and Consideration of Redevelopment Options for Infill Lots for Affordable Homeownership SUMMARY: As highlighted in the CRA's mission and also outlined in the CRA's Goals and Principals of the 2016 Community Redevelopment Plan, supporting affordable housing is a key focus of the Agency. It is the CRA's role to encourage the preservation of existing affordable housing and the development of new affordable housing by providing technical assistance, incentives and land. In an effort to increase affordable housing, the CRA actively engages in land acquisition. In response to the ongoing affordable housing crisis, the demand for attainable housing is at an all-time high. The CRA has an inventory of infill residential lots that are vacant of structures and ready for redevelopment. These lots present an opportunity to create new affordable and workforce homeownership options. The CRA also confirmed with the City that there are no City-owned infill lots located within the CRA area that could be included in this redevelopment initiative. CRA staff is seeking direction from the Board on preferred redevelopment strategies and allocating the redeveloped parcels upon completion. CRA staff recommends the redevelopment of the following parcels (see Attachment I-II): 507 NW 12th Avenue* Lot 348 NW 11th Avenue 524 NW 3rd Street 135 NE 3rd Avenue* 407 NE 1st Street 106 NE 3rd Avenue 419 N. Seacrest Boulevard* * Denotes parcels that could be subdivided into two 50 ft lots bringing the total lots available for redevelopment to ten. Options for redevelopment strategies include: Option 1: Public Notice to Solicit Letters of Intent (LOI) 861 •Attachment I - Property Map •Attachment II - Property Info with Map •Attachment III - Letter Of Intent Policy •Attachment IV - Palm Beach County Workforce Housing 2025 AMI •Attachment V - Infill Housing Presentation Invite interested developers or organizations to submit non-binding proposals outlining their interest, experience and conceptual approach meeting the guidelines set forth in the Letter of Intent Policy (see Attachment III) Option 2: Request for Proposals (RFP) Issue a formal RFP to solicit detailed proposals from qualified developers Option 3: Transfer to the City of Redevelopment Partner with the City to fund the design and construction of the houses Terms for consideration: Term of Affordability: 15 years Construction timeline/phasing: 18 months from signed contract with proposer Type of home: Single family detached homes Affordability: 69%-140% of PBC AMI (see Attachment IV) Type of Developer: not-for-profit vs for-profit Land: based on each proposal or provide land for free to City Lots: can be divided among proposers or all one package Sale of Homes: handled 100% by developer or City program Home Minimum features: 1300 sf, 2 bed/2 bath/1 garage; hurricane impact windows; appliances Proposal for allocating the redeveloped parcels: To ensure long-term affordability and equitable access, the staff proposes partnering with the City's SHIP program to income qualify prospective homeowners. Attachment V is a presentation to guide the Board's discussion and consideration. CRA BOARD OPTIONS: To be determined based on Board discussion. ATTACHMENTS: Description 862 863 Map Number Address Lot Size Approx. Measurements Current Zoning Future Land Use Potential House(s) 1 419 N. Seacrest Boulevard 0.33 143 L x 100 W R1 7.5 DU/AC LDR 5 DU/AC 2 Houses 2 106 NE 3rd Avenue 0.16 144 L x 83 W R2 Duplex 10 DU/AC HDR 15 DU/AC 1 House 3 135 NE 3rd Avenue 0.33 145 L x 100 W R2 Duplex 10 DU/AC HDR 15 DU/AC 2 Houses 4 407 NE 1st Street 0.17 106 L x 70 W R2 Duplex 10 DU/AC HDR 15 DU/AC 1 House 5 524 NW 3rd Street 0.19 118 L x 72 W R1A 6 DU/AC LDR 5 DU/AC 1 House 6 507 NW 12 th Avenue 0.24 110 L x 100 W R2 Duplex 10 DU/AC MDR 11 DU/AC 2 Houses 7 Lot 348 NW 11th Avenue 0.18 100 L x 74 W R2 Duplex 10 DU/AC MDR 11 DU/AC 1 House TOTAL 10 Houses 864 Boynton Beach Community Redevelopment Agency Guidelines for Processing Letters of Intent to Purchase or Lease Property 01648866-3 APPROVED: JUNE 14, 2022 The Boynton Beach CRA ("CRA") will use the process outlined in these Guidelines for Processing Letters of Intent to Purchase or Lease Property (“Guidelines”) to determine how to proceed upon receipt of one or more Letters of Intent (“LOIs”) that are not received in response to a formal request for such letters. Upon receipt of an LOI meeting the requirements provided below, the information will be brought to the Board for consideration. • Proposed purchase or lease price • Description of the entity and type of business • Description of the entity's experience • Description of proposed improvements and costs • Conceptual site plan showing proposed improvements – The plan needs to have enough information to ascertain the building size, important site elements (parking/loading, building placement, ingress/egress, loading and deliveries, etc.) and drawn to scale or with property dimensions • Knowledge that the proposed use is allowed under the City of Boynton Beach codes and regulations • Evidence of financial capacity to complete the proposed improvements • Anticipated timeline to get all approvals, renovate/construct, and activate uses and closing date • Any other information a proposer feel would be important for the Board to know as they review the proposal. Upon review of one or more LOIs, the Board may elect one of the following options: Option I – The CRA Board may determine that it is in the best interest of the CRA to reject the terms and conditions of any and all LOIs received and to take no further action with regard to the subject CRA property. Option II – The CRA Board may determine that it is in the best interest of the CRA to solicit additional offers to purchase or lease the subject property, in which case the CRA Board may direct staff to take whatever action it deems appropriate, including but not limited to: • Tabling the LOI or LOIs received and directing CRA staff to issue a thirty (30) day Public Notice to Dispose of the CRA property at issue; or • Directing the CRA staff and legal counsel to develop a request for proposal for the subject property to be presented to the CRA Board at a future meeting consistent 865 Boynton Beach Community Redevelopment Agency Guidelines for Processing Letters of Intent to Purchase or Lease Property 01648866-3 with CRA procedures for issuing requests for proposals, evaluating responses, and selecting a proposal(s). Option III – The CRA Board may accept the LOI (or one of the LOIs if more than one has been submitted in a timely fashion consistent with the CRA Board Meeting Agenda Policy) and direct the CRA staff and legal counsel to negotiate the terms and conditions of a Purchase and Development or Lease Agreement to be presented at a future meeting and to issue a thirty (30) day Public Notice to Dispose of the CRA property subject to the LOI. CRA staff and legal counsel shall present the draft Purchase and Development or Lease Agreement regarding the selected LOI to the Board along with any additional LOIs or offers to purchase or lease the subject property that have been received during the Public Notice period and prior to the agenda deadline for the CRA Board meeting where the Purchase and Development or Lease Agreement is scheduled to be heard. At that meeting, the Board may take any action within its powers, including, but not limited to: • Proceeding with the negotiation and/or approval of a Purchase and Development or Lease Agreement regarding the selected LOI; • Rejecting the selected LOI and moving forward with another offer or LOI submitted for the subject property; • Directing staff to prepare and issue an RFP for the subject property; or • Rejecting all LOIs and offers presented and taking no further action with regard to the subject property. Notwithstanding the above, these Guidelines are not intended to limit the ability of the CRA Board to take any action it deems appropriate regarding any LOI that it receives. Therefore, the CRA Board may deviate from the Options outlined above as it sees fit. 866 Workforce Housing Program (WHP) 2025 For Sale Prices and Incomes Effective July 1, 2025 WHP prices are set annually, based on the provisions of Article 5.G.1.A.3.c of the Unified Land Development Code reflected below, and the following: 2025 PBC Median Family Income: $111,800 (per HUD) WHP Sales Prices (homes cannot be sold at a higher price) WHP Income Category 2025 (WHP) Sales Prices Low 60 - 80% of MFI $67,080 - $89,440 $234,780 Moderate 1 >80 -100% of MFI >$89,440 - $111,800 $301,860 Moderate 2 >100 -120% of MFI >$111,800 - $134,160 $368,940 Middle >120 -140% of MFI >$134,160 - $156,520 $436,020* *Middle Income category does not apply to WHP units in projects approved under WHP Code adopted 8/22/2019. For information on WHP pricing, contact Michael Howe, Planning Division, at mhowe@pbcgov.org or 561-233-5361 867 INFILL AFFORDABLE HOMEOWNERSHIP September 9, 2025 868 AGENDA To encourage the presevation of existing affordable housing and the development of new affordable housing by providing technical assistance, incentives and land MISSION & GOAL In an effort to increase affordable housing, the CRA actively engages in land acquisition 869 PROPERTY MAP ADDRESSES 419 N. Seacrest Boulevard 106 NE 3 Avenuerd 135 NE 3 Avenuerd 407 NE 1 Streetst 524 NW 3 Streetrd 507 NW 12 Avenueth Lot 348 NW 11 Avenueth 870 Address Lot Size Approximate Measurement Current Zoning Future Land Use Potential Houses 1) 419 N. Seacrest Boulevard .33 100 W x 143 L R1 (7.5 DU/AC)LDR (5 DU/AC)2 2) 106 NE 3 Avenuerd .16 83 W x 144 L R2 DUPLEX (10 DU/AC)HDR (15 DU/AC)1 3) 135 NE 3 Avenuerd .33 100 W x 145 L R2 DUPLEX (10 DU/AC)HDR (15 DU/AC)2 4) 407 NE 1 Streetst .17 70 W x 106 L R2 DUPLEX (10 DU/AC)HDR (15 DU/AC)1 PROPERTY INFORMATION 871 Address Lot Size Approximate Measurement Current Zoning Future Land Use Potential Houses 5) 524 NW 3 Streetrd .19 72 W x 118 L R 1A (6 DU/AC)LDR (5 DU/AC)1 6) 507 NW 12 Avenueth .24 100 W x 110 L R2 DUPLEX (10 DU/AC)MDR (11 DU/AC)2 7) Lot 348 NW 11 Avenue th .18 74 W x 100 L R2 DUPLEX (10 DU/AC)MDR (11 DU/AC)1 872 O P T I O N 3 REDEVELOPMENT STRATEGIES O P T I O N 1 O P T I O N 2 Public Notice to Solicit Letters of Intent (LOI) Issue a Request for Proposals Transfer to City and Fund the Development 873 TERM OF AFFORDABILITY 15 Years AFFORDABILITY RANGES 60-140% of PBC Area Median Income CONSTRUCTION TIMELINE 18 months from signed contract MINIMUM FEATURES 1,300 SF 2 Bed/2 Bath 1 Car Garage Hurricane Impact Features Appliances TERMS FOR CONSIDERATION 874 2025 WORKFORCE HOUSING Income limits would be subject to changes based on HUDs updated numbers each year As a point of reference: Cottage District: townhomes = Low Categor y; single-family homes = Moderate 1 categor y; Habitat for Humanity: Low and Moderate 1 categor y Boynton Beach CDC: Moderate 1 and Moderate 2 categor y 875 NEXT STEPS Select Minimum Considerations Define terms of affordability, affordability ranges, critical timelines, minimum house features Select Redevelopment Strategy Option 1: Public Notice Letter of Intents Option 2: Issue a Request for Proposals Option 3: Dispose lots to the City and fund the redevelopment Select CRA Lots for Redevelopment Confirm which CRA owned lots will be used for affordable homeownership Additional Feedback Provide staff with any additional direction not included in presentation 876 COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING OF: September 9, 2025 NEW BUSINESS AGENDA ITEM 15.C SUBJECT: Discussion and Consideration of the 2025 CRA Board Meeting Dates SUMMARY: This item is being brought before the CRA Board for consideration regarding the regularly scheduled October 23rd and November 10th CRA Board meetings. The CRA meetings are eighteen (18) days apart, which will allow six (6) business days to publish the agenda. Staff is seeking the Board's direction on the October and November meeting dates. CRA BOARD OPTIONS: Provide direction for the October and November CRA Board meeting dates. 877