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Agenda 07-14-09 ~~Y~T2~ East Side-West Side-Seas'lde Rena'lssance If any person decides to appeal any decision made by the Board with respect to any matter considered at this meeting, he or she will need a record of the proceedings, and that, for such purpose, he or she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. CRA Board 'Meeting Tuesday, July 14,2009 @ 6:30 PM City Commission Chambers 100 E, Boynton Beach Blvd Boynton Beach, FL 33435 I. Call to Order - Chairman Jeny Taylor II. Pledge to the Flag and Invocation III, Roll Call IV. Agenda Approval: A. Additions, Deletions, Conections to the Agenda B. Adoption of Agenda V. Announcements & Awards: VI. Consent Agenda: A. Approval of Minutes - CRA Board Meeting June 9, 2009 B. Approval of Minutes - eRA Special Board Meeting June 16, 2009 C. Approval of Period Ended June 30, 2009 Financial Report D. Monthly Procurement Purchase Orders E. Approval of Travel for Board Chairman VII. Pulled Consent Agenda Items: VIII. Information Only: A. CRA Policing Activity Report for the Month of June 2009, and District Statistics for the Months of May and June 2009 B. Boynton Beach eRA and Trolley Website Updates C. Complaint/eornment Log - Monthly Update D. eRA Press Releases E. Economic Development Activity Report F. Budget Update FY 2009 - 2010 G. Downtown Merchant Mingle H. elosing of 4COP Liquor License I. Planning and Development Board Meeting Agenda - June 23,2009 IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Public Hearing: Old Business: New Business: XI. Old Business: A. eost Analysis to Implement a Trolley Service Fee B. eonsideration of Amendments to eRA Programs 1. Homebuyers Assistance Program (HAP) 2. Residential Improvement Program (RIP) 3. eommercial Fa<(ade Program C. Heart of Boynton Strategies Update 1. Alley Abandonment Status 2. Consideration of Issuing RFP for Development of Small Business Program 3. eonsideration of Hiring a Project Manager for HOB Strategies 4. eonsideration of Purchasing Vacant Lot on NE 4th Street 5. eonsideration of Purchase of Public Art for Heritage Park D. eonsideration of lease renewal with Glaston Sims d/b/a Alex Sims Barber Shop E. Appraisal of property located at 201 NE 9th Avenue - Michael Villamarin F. Downtown Master Plan Update TABLED June 9, 2009 G. Master ealendar H. Approval of Funding up to $50,000 from the Homebuyer Assistance Program to Latasha N orfus and Rakera Ramsey I. Approval of Funding up to $50,000 from the Homebuyer Assistance Program to Dallo, Glaiseda and Renel Bosquet XII. New Business: A. Affordable Housing Tools at a Glance published by the Florida Redevelopment Association XIII. Future Agenda Items: XIV. XV. XVI. XVII. XVIII. A. Appraisal of property located at 112 NW 10th Avenue - Jeny & Melody Brandom B. eonsideration of Greeneentive Addendum to Direct Incentive Funding Program C. Property Exchange between eRA and eity D. eonsideration of Brownfield Designation within eRA E. Consideration of Funding Women's eircle $100,000 for Purchase of Facility Comments by Staff Comments by Executive Director Comments by CRA Board Attorney Comments by CRA Board Adjournment 1!~~~Y~Te~ eRA Ii East Side-West Side-Seaside RenaIssance If any person decides to appeal any decision made by the Board with respect to any matter considered at this meeting, he or she will need a record of the proceedings, and that, for such purpose, he or she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. CRA Board Meeting Tuesday, July 14,2009 @ 6:30 PM City Commission Chambers 100 E. Boynton Beach Blvd Boynton Beach, FL 33435 I. Call to Order - Chairman Jerry Taylor II. Pledge to the Flag and Invocation III. Roll Call IV. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda V. Announcements & Awards: VI. Consent Agenda: A. Approval of Minutes - CRA Board Meeting June 9, 2009 B. Approval of Minutes - CRA Special Board Meeting June 16,2009 c. Approval of Period Ended June 30, 2009 Financial Report D. Monthly Procurement Purchase Orders E. Approval of Travel for Board Chairman VII. Pulled Consent Agenda Items: VIII. Information Only: A. CRA Policing Activity Report for the Month of June 2009, and District Statistics for the Months of May and June 2009 B. Boynton Beach CRA and Trolley Website Updates C. Complaint/Comment Log - Monthly Update D. CRA Press Releases E. Economic Development Activity Report F. Budget Update FY 2009 - 2010 G. Downtown Merchant Mingle H. Closing of 4COP Liquor License I. Planning and Development Board Meeting Agenda - June 23, 2009 IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Public Hearing: Old Business: New Business: XI. Old Business: A. Cost Analysis to Implement a Trolley Service Fee B. Consideration of Amendments to CRA Programs 1. Homebuyers Assistance Program (HAP) 2. Residential Improvement Program (RIP) 3. Commercial Fa9ade Program c. Heart of Boynton Strategies Update 1. Alley Abandonment Status 2. Consideration of Issuing RFP for Development of Small Business Program 3. Consideration of Hiring a Project Manager for HOB Strategies 4. Consideration of Purchasing Vacant Lot on NE 4th Street 5. Consideration of Purchase of Public Art for Heritage Park D. Consideration of lease renewal with Glaston Sims d/b/a Alex Sims Barber Shop E. Appraisal of property located at 201 NE 9th Avenue - Michael Villamarin F. Downtown Master Plan Update TABLED June 9, 2009 G. Master Calendar H. Approval of Funding up to $50,000 from the Homebuyer Assistance Program to Latasha Norfus and Rakera Ramsey I. Approval of Funding up to $50,000 from the Homebuyer Assistance Program to Dallo, Glaiseda and Renel Bosquet XII. New Business: A. Affordable Housing Tools at a Glance published by the Florida Redevelopment Association XIII. Future Agenda Items: A. Appraisal of property located at 112 NW 10th Avenue - Jerry & Melody Brandom B. Consideration of GreenCentive Addendum to Direct Incentive Funding Program C. Property Exchange between CRA and City D. Consideration of Brownfield Designation within CRA E. Consideration of Funding Women's Circle $100,000 for Purchase of Facility XIV. Comments by Staff xv. Comments by Executive Director XVI. Comments by CRA Board Attorney XVII. Comments by eRA Board XVIII. Adjournment MINUTES OF THE COMMUNIlY REDEVELOPMENT AGENCY BOARD MEmNG HELD ON JUNE 9, 2009, AT 6:30 P.M. IN aTY COMMISSION CHAMBERS, BOYNTON BEACH, FLORIDA PRESENT: Jerry Taylor, Chair Woodrow Hay, Vice Chair Jose Rodriguez Marlene Ross Ron Weiland Lisa Bright, Executive Director James Cherof, Board Attorney I. Call to Order - Chair Jerry Taylor Chair Taylor called the meeting to order at 6:30 p.m. II. Pledge to the Flag and Invocation Vice Chair Hay offered the invocation which was followed by the Pledge of Allegiance to the Rag. III. Roll Call The Recording Secretary called the roll. IV. Agenda Approval A. Additions, Deletions, Corrections None B. Adoption of Agenda Motion Vice Chair Hay moved to approve the agenda. Ms. Ross seconded the motion that passed unanimously. V. Announcements Ie. Awards: A. July 4th - Salute to Independence Kathy Biscuiti, Special Events Director, announced the event would be celebrated on Saturday, July 4,2009, at Intracoastal Park. Live music would begin at 6:30 p.m., 1 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 followed by a patriotic salute at 7:30 p.m. The live music would resume and would be followed by "Fireworks by Grucci" at 9:00 p.m. Food and beverages would be available on site. While some seating would be provided, Ms. Biscuiti suggested attendees bring chairs and blankets. Parking would be provided at Bank of America on the comer of Federal Highway and Ocean Avenue, and two shuttles would run continuously, beginning at 6:00 p.m. No pets or personal fireworks would be permitted. Ms. Biscuiti noted Grucci had provided the fireworks for last year's July 4th celebration. A calamity had occurred during the event and a rocket had fallen over. Grucci did provide the City with a refund of nearly $5,000 for the mishap. VI. Consent Agenda: A. Approval of Minutes - CRA Board Meeting of May 12, 2009 B. Approval of Period - Ended May 31, 2009 Financial Report C. Monthly Procurement Purchase Orders D. Approval of Funding up to $50,000 from the Homebuyers' Assistance Program to Latasha Norfus and Rakera Ramsey Item VI. D. was pulled by Mr. Rodriguez to be discussed simultaneously with Item VI. E. E. Approval of Funding up to $50,000 from the Homebuyers' Assistance Program to Dallo, Glaiseda and Renel Bosquet Item VI. E. was pulled by Mr. Rodriguez to be discussed simultaneously with Item D. F. Downtown Master Plan Update G. Approval of donation from Town of Ocean Ridge for 4th of July Item VI. G. was pulled by Vice Chair Hay for discussion. Motion Ms. Ross moved to approve the Consent Agenda, with the exception of the items pulled. Vice Chair Hay seconded the motion that passed unanimously. 2 Meeting Minutes Community Redevelopment Agency Board !:r'ton 1e8ch, Florida June 9, 2009 VII. Pulled Consent Agenda Items D. Approval of Funding up to $50,000 from the Homebuyers' Assistance Program to Latasha Norfus and Rakera Ramsey E. Approval of Funding up to $50,000 from the Homebuyers' Assistance Program to Dallo, Glalseda and Renel Bosquet Mr. Rodriguez noted residents of the Preserve had spoken at the last Commission meeting, advising property values had plummeted since they had received $50,000 from the Homebuyers' Assistance Program. He expressed concern regarding the properties to be purchased by the homebuyers per Items VI. D. and E. above. The property at 222 NW 7ti1 Avenue (Item D.) had been appraised at $223,000, which he believed was excessive given the current market environment and the area In which the property was located. ' Mike Simon, Development Manager, advised the appraisals had been provided by the lender's appraiser. Mr. Weiland felt staff should obtain the appraisals since the funding was to be provided by the CRA. Ms. Ross remarked the property located at 721 NW 2Ad Street (Item E.) had been appraised at $199,000 and appeared to be the same model. Mr. Rodriguez reiterated his concern regarding the appraised values and requested the matter be tabled until a copy of the appraisal was provided to the Board. The members noted they would support having the lender's appraisal reviewed by staffs appraiser. Peggy Miller, 7144 Craw Key Way, Lake Worth, Seaside National Bank & Trust, advised the homes had not yet been built, but were slated for closing in September. "As-built" appraisals were obtained for new construction, and the values were based on specifications provided by the Bank. The appraiser's evaluation was then based upon the costs of construction and current sales. Ms. Miller commented three sales had recently closed in the neighborhood, and Homebuyers' Assistance Program (HAP) funds were utilized. She contended the appraised values had been holding as of the May 18, 2009 appraisal date and were consistent with the appraisals before the Board. Mr. Simon explained the properties were Included In the eight RTG Construction single- family homes approved to receive Homebuyers' Assistance Program (HAP) funding. The cost of the appraisal review would be approximately $200 or $250. Motion Mr. Rodriguez moved to do reviews of the appraisals. Mr. Weiland seconded the motion that passed unanimously. 3 Meeting Minutes Community Redevelopment Agency Board !2Ynton Belch, Florida J~M 9, 2009 F. Downtown Master Plan Update Mr. RodrigUez requested staff address the item. Lisa Bright, Executive Director, noted staff had prepared the update based upon activity in the downtown area in response to the "Guiding Prindples of the Downtown Master Plan." Mr. Rodriguez contended the discussion at the May 12, 2009 Board meeting focused on the recommendations of the Heart of Boynton Committee and the manner in which the recommendations were applied to the downtown area. It was his understanding staff's review would include some of the recommendations. Ms. Bright explained the Heart of Boynton was part of the Downtown Master Plan, and she was not certain which of the Heart of Boynton initiatives Mr. Rodriguez wanted applied to the Downtown Master Plan. Mr. Rodriguez requested a meeting with Ms. Bright and staff in order to discuss the application of the methodologies, as well as the preservation of the businesses at Inlet Plaza. It was his belief nothing was being done with the downtown area. Chair Taylor articulated the recommendations of the Committee were very specific as to the Heart of Boynton, and he believed a great deal of activity had been undertaken in the downtown area. Ms. Bright agreed to schedule the meeting. She noted any specific requests made by Mr. Rodriguez which were not contained in the Downtown Master Plan would be brought before the Board for approval. As such, she suggested the Board table the matter. Motion Mr. Rodriguez moved to table. Ms. Ross seconded the motion that passed unanimously. G. Approval of Donation from Town of Ocean Ridge for 4ti1 of July Vice Chair Hay referred to Ms. Biscuiti's earlier comment regarding the $5,000 refund from Grucci Fireworks, and staffs report noting a $2,500 donation from the Town of Ocean Ridge. He inquired as to the total cost of the event. Ms. Biscuiti responded the total cost was approximately $70,000 which included $50,000 for the fireworks and $12,000 for the barge. Motion Mr. Hay moved to approve. Mr. Weiland seconded the motion that passed unanimously. 4 Meeting Minutes Community Redevelopment Agency Board !2Y"ton 1eIIch, florida June 9, 2009 VIII. Information Only A. CRA Policing Activity Report for the month of May 2009, and District Statistics for the months of April and May 2009 B. CRA Police Arrest at Atlantic Lodge - South Federal Highway (media video to be shown) A video was presented evidencing the arrest by CRA Police of Ryszsard Swierszcz, owner of the Atlantic Lodge motel. Mr. Swierszcz was charged with dealing in stolen property. The motel had served as a safe haven for prostitutes and drug users. The owner had hired motel customers to steal merchandise from Walmart, Home Depot and Walgreen's and return the stolen goods to the store, exchanging them for store return credit cards which they gave to Mr. Swlerszcz. Some of the Items recovered by Police induded a shotgun, a power drill and a nail gun. The motel was across the street from a City park. Although Mr. Swierszcz was under arrest, the motel was still open for business. Police Indicated they would attempt to seize the property and shut It down through a forfeiture process. Chair Taylor commended the Police Department for their superior work and for their recent arrest in a rape that occurred 30 years ago. C. Boynton Beach CRA and Trolley Website Updates D. Complaint/Comment Log - Monthly Update E. Update on CRA Press Releases F. Economic Development Activity Report Ms. Ross requested clarification as to relocation assistance and the restaurant site referenced in correspondence with Stephen Brien. Ms. Brooks explained relocation assistance helped attract businesses into the district, and a site along Ocean Avenue was being explored for a restaurant. G. Artavox In H. Florida Regional Forum on The Nighttime Economy I. Update on the Preserve 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2f)09 Chair Taylor noted while most of the issues were between the homeowners and the managers, the City had been following up on all of the Code Compliance Issues and met with the managers and owners regarding the deficiencies. Mr. Rodriguez wished to ensure the property owners seated in the audience were informed of the action being taken by the City and the CRA. Sasha Lagano, 1990 NE 5th Street, had resfded at the Reserve since 2007. At the time she purchased the property, it was her belief the project had been a joint effort between the Cornerstone Group and the CRA. The project had never been completed and her unit contained numerous construction deflciencles. While most of the items had been under warranty, they had not been repaired. New defICIencies had surfaced, including a broken front step, inadequate driveway dimensions, defective wfndow shutters, faded paint and vehicle damage caused by the sprinklers. Other complaints included broken roof tiles, leaking roofs, dirt and debris, broken glass, idle trucks, unused storage lockers, rodent infestation, and trespassing. The property was never gated and at least two of the units had been burglarized. To date, there have been a number of foreclosures within the community, and many of the residents simply walked away from their homes. It was her contention many of the appraisals were inflated. The closing on her unit had not been timely. Dawn Osowsky, 1751 NE 6ti1 Street, reported on difficulties with the Homeowners' Association. Fees were initially $250 and included cable TV and high-speed internet. Thereafter, the builder increased the association fees to $355 per month, which did not include cable TV or internet. The previOUS management company hired by the builder never paid the cable company, nor had the builder paid the association fees on Its units, and she felt the association fees had been increased to compensate for the deficit. While her mortgage amounted to more than $1,600 per month, she felt she was not provided with the luxury town home community promised. She felt the City should buy the homes of those who wished to leave the community and assist those who wished to stay by forcing the developer to meet his obltgatlons. She provided the Board with contact information for the corporate officers and attorney for the developer. While the CRA had provided down-payment assistance, Attorney Cherof advised that the CRA had no legal obligation to be involved in this matter. Shonae Trotman, 1826 NE 5th Street, noted she had resided at the Preserve since October, 2008. She felt the residents were not treated properly because they had received subsidies or "free money." She had considered walking away from her home, but would be concerned with action by the CRA. The residents had explored hiring an attorney to act as their advocate, but this was not economically feasible. 6 Meeting Minutes Community Redevelopment Agency Board !2Ynton a.ch, Florida June 9, 2009 Chair Taylor reiterated both the City and CRA staff were doing all they could to correct the deficiencies and would continue to work with the developers to ensure they lived up to their promises. He did not believe either the City or CRA had any standing regarding association fees. IX. Public Comments: (Note: comments are limited to 3 minutes in duration) Sister Lorraine Ryan, 145 NE 4th Avenue, the Women's Circle, talked about PATCH (Planned Approach to Community Health) and the need for a community health center for the uninsured. JAL Ministries and Dr. Tom Rose would be creating a federally- qualified community health center in Boynton Beach which would be funded by Quantum Foundation in the first phase. It was hoped a site for the Center could be located in the Heart of Boynton, as the hospital was located in the south side of town and the Caridad Clinic on the far west side. Sister Lorraine thanked CRA staff for its support. Doris Jackson, 531 NW 10th Avenue, in referring to the arrests made at the Atlantic Lodge motel, inquired why arrests were. not made regarding the Illegal activity at E-Z Mart. Sgt. Joseph DeGiulio, CRA Policing Unit, noted more arrests were made at E-Z Mart than at Atlantic Lodge. At least 50 arrests were made last year for drug users as well as sellers. During May 2009, a drug reversal operation resulted in seven arrests within four or five hours. While the police were able to link the Atlantic Lodge owner to all the illegal activity, they could not do so with E-Z Mart, as the activity occurred outside the store. If drugs were sold within 1,000 feet of a church, park, school or convenience store, an additional charge would be added to the arrest warrant. It would then be up to the State Attorney to move forward. No one else having come forward, the publiC audience was closed. X. Public Hearing: Old Business: New Business XI. Old Business: A. Heart of Boynton Strategies: 1. Strategy matrix 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 Vivian Brooks, Assistant Director, noted the matrix included with the meeting materials contained strategies and actions undertaken to date by the City and CRA staff to implement the recommendations of the Community Committees. Staff had reviewed the matrix with the attendees at the June 8, 2008 Community COmmittee meeting. The Committee's chief priority dealt with improving the quality of life and ridding the City of nuisance properties. Included with the meeting materials was a contract for a nuisance property located 112 NW 10th Avenue. Code liens were attached to the property. Staff believed it would be more efficient to purchase the property rather than to foreclose, and felt the property would appraise close to the asking price. Title searches had been secured on some of the other properties, and the items would be brought before the City Commission In July 2009 along with the Code lien foreclosures. With regard to Crime Prevention Through Environmental Design (CPTED), Ms. Brooks advised an alley abandonment would be brought before the Board at the next meeting. Staff was working with Engineering to explore alternatives in addressing the issue of manholes in alleys. With regard to economic development activities, staff was looking into free business training. Issues to be brought before the Board for consideration include the Brownfield designation and the reissuance of the Request for Proposals (RFP) for Ocean Breeze East. Staff hoped to continue the Residential Improvement (RIP) program for next fiscal year. 2. Consideration of COntract with Michael Villamarin for the property located at 201 NE gtil Avenue Ms. Brooks noted the three properties to be discussed were within Phases I and II of the MLK redevelopment and met the criteria of a nuisance property, parcels adjacent to properties already owned by the City or CRA or properties located in Phase I. Mr. Simon advised the property consisted of a duplex on a lot 55 feet by 150 feet, which was adjacent to a large City-owned parcel and was within the Phase I boundary of the MLK project area. The property was being offered to the CRA for $210,000 contingent upon the purchase price meeting the appraised value. Mr. Simon noted the property owner had purchased the property for $145,000 in 2005. Staff had not suggested that the purchase price of $210,000 was accurate and prepared a contract to protect the CRA's Interest by asking that an appraisal either meet or exceed the purchase price. It was believed the property was in good standing with the City. Gertrude Sullivan, 201 NE Stil Avenue, commented the property formerly belonged to her sister and was not worth the asking price. 8 Meeting Minutes Community Redevelopment Agency Board Boynton IIeKh, Florida June 9, 2009 Mr. Simon requested direction from the Board. Staff recommended entering into the contract so that if the appraisal was lower than the purchase price, the CRA would have a right to exit the contract. The CRA was not obligated to purchase the property at the appraised value. Attorney Cherof advised a motion was necessary to approve the agreement. As a contingency for an appraisal was included in the agreement, a separate motion was not needed. In this instance, the contract provided that the CRA would obtain the appraisal. Motion Mr. Hay moved to approve. The motion was seconded and passed unanimously. Mr. Simon informed the Board the appraisal should be available by the next meeting or within the due diligence period of 60 days. 3. Consideration of Contract with Jerry and Melody Brandom for the property located at 112 NW 10til Avenue Ms. Brooks noted Mr. Brandom had approached staff with an offer to sell the property. Code liens had been placed on the vacant, boarded up multi-family property. Staff felt the property would appraise close to the purchase price. The contract contained the same due diligence period as the Vlllamarin contract, and an appraisal would be obtained by staff. Motion Mr. Rodriguez moved to approve. Ms. Ross seconded the motion that passed unanimously. 4. Consideration of Contract with Barbara Rudd for the property located at 306 NE 11th Avenue Ms. Brooks advised the property consisted of two small vacant lots together, amounting to one buildable lot. The land did not meet the criteria of a nuisance property nor was it located in Phase I, but it was adjacent to City or CRA land. The property measured roughly 6,000 square feet and could possibly accommodate a house. It was originally purchased for $145,000 in 2006. While the asking price was $90,000, staff felt the property would appraise at approximately $45,000. This opportunity had not received support from the Community Committee as it was not located within Phase I and was 9 Meeting Minutes Community Redevelopment Agency Board !2Ynton Beach, Florida June 9, 2009 not a nuisance property. However, the Committee felt if the owner would sell at the appraised value, it would be a worthy purchase. If not, the purchase could be made at a later date. The Committee indicated a preference that Ms. Rudd sign the contract, stipulating she would sell for the appraised value. The Board agreed acquisition efforts should be focused on properties located in Phase 1. Motion Mr. Rodriguez moved to deny the purchase request. Mr. Weliand seconded the motion that passed unanimously. B. Budget Discussion Susan Harris, Finance Director, noted she had prepared two charts pertaining to assessed valuations and Tax Increment Financing (TIF) revenues. The assessed valuations had declined another 20% which was anticipated based on the Property Appraiser's information to the municipalities several weeks ago. TIF revenues would decline this year 22%-24% to $6.3 million from $8.3 mlDlon. The final Tax Increment Financing (TIF) revenues were based on the assessed valuations received from the Property Appraiser and the millage rates appHecI to the assessed valuations by both the City and the County. The numbers provided in the charts were based on the assumption there would be no millage rate increase by the City or the County. However, if the City utilized the roll-back rate and the County utHlzed the rate they had been considering, the CRA would realize another increase in Tax Increment Financing (TIF) revenues of $1.1 million to $1.2 million. While Ms. Brooks had suggested a budget workshop for the end of July, she suggested the Board might want to consider an early-August date, as the Qty would be considering its budget and mlftage rates in mid-July and would be required to furnish next year's proposed mHlage to the Property Appraiser in August. At the suggestion of the Board, Ms. Harris would set aside three dates for the workshop. 1. Consideration of Trolley Service Contract Renewal Ms. Brooks noted the current contract would expire at the end of September, 2009. If the Board did not wish to continue the service, notice would be required by June 29, 2009 pursuant to the 90-day termination clause in the existing contract. If not terminated timely, the contract would automaticalty renew for two three-year periods. The trolley vendor had agreed to amend the 9O-day notice requirement to 45 days. At that time, staff would have further knowledge of the CRA's revenue for the next year and could provide the Board with viable trolley transportation scenarios. Ms. Bright added It had been clear the ridership had never developed for the southern route, and if a decision were to be reached at this meeting, staff could not recommend the service 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 be continued. Additionally, based on Tax Increment Financing (TIF) revenues to date, Ms. Bright believed the trolley service would not be financially feasible. She noted, however, the northern route had been successful and provided service to Trl-RaU and Palm Tran. As set forth above, the amended notice provision would allow staff to provide a more accurate picture of what might be preserved in the program. Ms. Bright noted the Transportation Concurrency Exception Area (TCEA), under which the CRA was operating, did not require trolley service. Chair Taylor pointed out If the southern route were to continue In effect through September 30, 2009, the cost would amount to $58,950. If it were to be terminated as of July 3, 2009, a termination fee of $18,000 would result. He believed the trolley service should be terminated completely. The northern route's ridership consisted of only 50 people in a. City of 67,000 citizens. The cost for the north and south routes amounted to $734,000, a "nice-to-have" rather than "must-have" service. Mr. Weiland believed the southern route should be eliminated. As the northern route had been successful and transported students back and forth to school, Mr. Weiland suggested the hours of operation be reduced. Ms. Brooks indicated ridership for the northern route remained level and was not subject to seasonal fluctuations. The $734,000 would increase as a result of an escalator clause in the agreement which raised the hourly rate from $65 to $67.50. Mr. Rodriguez suggested riders be charged $1 which would amount to nearly $200,000 in revenues against the cost. Ms. Harris did not believe a $1 charge was feasible based on cost issues such as collection, reconciliation and auditing and the installation of meters. Kurt Bressner, City Manager, inquired whether a transit component for the trolley system had been required by the Transportation Concurrency Exception Area (TCEA) east of 1-95. Ms. Brooks replied the only requirement was the biannual submission of reports to the County, to which staff had attended. Brian Miller, 2515 NE 2nd Court, was familiar with the northern route which was heavily used by seniors, residents in the area and students. Rather than eliminating the route, he believed it would be prudent to charge riders $1 each way. Mr. Rodriguez requested staff proVide costs pertaining to the implementation of a fee. Mr. Weiland agreed. Chair Taylor would not support a fee but would support the elimination of the southern route. Ms. Ross believed the northern route should be preserved. 11 Meeting Minutes Community Redevelopment Agency Board !2Ynton ~, Florida June 9, 2009 Motion Mr. Rodriguez moved that before taking any action on eliminating any routes, staff provide an analysis of what it would take to implement a fee-based ridership to the Board. Attorney Cherof noted the deadline for the 9O-day period would be July 2nd, prior to the next Board meeting. As such, Attorney Cherof suggested the Board either amend the contract or provide notice of termination of the contract, which could be rescinded or renegotiated at a later date. The amendment would not result in the extension of the notice period, but would shorten the time period for cancellation. It was noted the CRA would save $40,000 immediately by eliminating the southern route by July 3, 2009. Ms. Bright pointed out the southern route was utilized mostly by seniors traveling to the hospital, and most of the residents in the area did not reside in the City during the summer months. She reminded the Board the southern route had been operating on a trial basis for a year, and ridership had declined. Mr. Rodriguez was not prepared to eliminate the southern route until the fee implementation costs had been provided. Chair Taylor's observations revealed no one had been utilizing the service on the southern route. If the route were cancelled at this time, riders would still have until July 3rd to make use of the service. Mark Karageorge, 240A Main Boulevard, agreed ridership on the southern route was low and, therefore, the route was not cost effective. Residents In the High Pant area preferred the Shopper Hopper as it accommodated the handicapped and provided door- to-door service. He believed the southern route should be eliminated at this time. He agreed revenues could be recouped by imposing a charge on the northern route ridership. Victor Norfus, 261 N. Palm Drive, suggested the use of trolley passes for the northern route. Notices could be placed on the trolleys notifying the ridership of the charge and passes could be obtained at City Hall. He believed collecting monies on a trolley could be a security issue. As the ridership was declining on the southern route, he felt the route should be discontinued. Motion Chair Taylor passed the gavel and moved to eliminate the southern route as of July 3rd. Mr. Weiland seconded the motion that passed 4-1 (Mr. Rodriguez dissenting). 12 Meeting Minutes Community Redevelopment Agency Board !2Ynton Beach, Florida June 9, 2009 Discussion ensued regarding the northern route. Mr. Rodriquez requested staff explore the concept of a cost-based ridership in order to recoup some of the costs of running the trolley. An analysis of the implementation costs should be included. Ms. Brooks noted staff would also bring back to the Board other proposals including route changes, and elimination of both non-productive stops and Saturday service. Mr. Hay requested staff also explore the use of passes on the trolleys. Ms. Harris explained if a program were developed wherein the troney operator were to collect the fees, the CRA would be required to develop internal audit controls and a process for handling the cash, similar to the practice used for the marina. Motion Mr. Rodriguez moved to approve the amendment to the contract for the 45-day notice. Mr. Weiland seconded the motion that passed unanimously. Motion Mr. Rodriguez moved for staff to come back to the Board with a proposal on how the Board might be able to collect fees to reCoup the cost of the trolley. Mr. Hay seconded the motion that passed 4-1 (Chair Taylor dissenting). 2. Review of Community Care Rollover Allocation from FY 2006/2007 Ms. Brooks noted the Board had allocated $200,000 to the Community Caring Center in fiscal year 2006/2007. In August 2008, pursuant to an internal agreement between the Community Caring Center and the Women's Circle, Sherry Johnson, Executive Director of the Community Caring Center, requested half of the funding be allocated to the Women's Circle and half to the Community Caring Center. The Board had no objection to the allocation at that time. Since then, the Women's Circle had contracted for a property on SE 4ti1 Street and was scheduled to close on August 22, 2009. They would be drawing down the $100,000 at closing. The CRA would hold a mortgage and note on the property and if the property sold, the CRA would collect the full amount of the monies. The Community Caring Center had been negotiating for a property on NE 6ti1 Avenue, but was not yet under contract. Ms. Harris added the $200,000 previously allocated had been carried by the CRA since 2007 and State Statutes required the monies be expended within three years. As the $200,000 could only be carried for another year and a significant budget deficit was anticipated for the next fiscal year, staff recommended one of the following options: . Allow the continuation of the $200,000 allocation to be expended for the purchase of the building, with a commitment to fully expend the funds for the designated purpose by September 30, 2009. If the original funding purpose was 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida J.... 9, 2009 not met; the Community Caring Center must come back to the CRA Board with a replacement proposal. In any case, the funds must be fully expended by the end of the fiscal year. . If the monies are not fully utilized by September 30, 2009, they would be reallocated into next year's budget for redevelopment projects. Mr. Rodriguez favored allowing the continuation of the $200,000. Mr. Weiland recommended if it were the Board's desire to provide $100,000 to the Women's Circle, and if the Community Caring Center did not spend the remaining $100,000 by the end of the fiscal year, the remaining funds be incorporated into next year's budget after September 30, 2009. Ms. Ross supported allocating $100,000 to the Community Caring Center and $100,000 to the Women's Circle. She asked to hear from Sister Lorraine. Sister Lorraine believed the $100,000 was dedicated to the Women's Circle, and she had hoped to be able to utilize the funds. While the closing for the property on SE 4th Street was scheduled for August 15th, Planning and Zoning had advised the variance and site approval might be obtained by August 25th at the earliest. She believed the other $100,000 could be held for the Community Caring Center until September 30, 2010 as she believed the CRA had intended to purchase the property currently occupied by the Women's Circle at 145 NE 4ti1 Avenue for $250,000. Mr. Rodriguez felt the Board should honor the $200,000 allocation. Motion Mr. Rodriguez moved to approve Option 1 as outlined by the CRA Board. Motion Ms. Ross moved to allow the continuation of the $200,000 allocated originally, but to identify $100,000 for the Community Carlng Center and $100,000 for the Women's Circle, and to expend the funds by November 2010. Mr. Rodriguez seconded the motion. Ms. Bright did not believe there would be funding in either the current or next budgettyear to consider any type of acquisition of the Community Caring Center building that currently existed. 14 Meeting Minutes Community Redevelopment Agency Board !2Y"ton leach, FIorIcIe June 9, 2009 Motion Mr. Weiland moved that the Board allow the Women's Circle to expend $100,000 of the $200,000 that had rolled over for the last two years from the Community Caring Center and leave the other $100,000 open for the Community Caring Center to use by the end of September 2009. If the Community Caring Center is not able to use that $100,000 by the end of September 2009, the $100,000 would go back into the General Fund for the CRA for next year's budget. Vice Chair Hay seconded the motion that carried unanimously. XII. New Business: None XIII. Future Agenda Items: A. Resolution recommendation for Brownfield B. Property exchange between CRA and City C. Status of purchase of NE 4ti1 Avenue from CDC D. Consideration of revisions to CRA programs 1. Homebuyer Assistance Program (HAP) 2. Residential Improvement Program (RIP) 3. Commercial Facade Program XIV. Comments by Staff None xv. Comments by Executive Director None XVI. Comments by CRA Board Attorney None 15 Meeting Minutes Community Redevelopment Agency Board Boynton leach, Florida June 9,2809 XVII. Comments by eRA Board Mr. Rodriguez referenced a discussion in the May 12, 2009 minutes, under, "New Business," Item A. Comments had been received by the Community Committee relating to property improvements. At the time, Mr. Rodriguez had inquired whether any of the suggestions received by the Community Committee had been addressed in the master plan. As they had not, he suggested the proposals be applied to the downtown area and cottage district. The minutes reflected the item would be brought back to the Board in order for the implementation aspects of the Downtown Master Plan to be expanded. It was noted the Downtown Master Plan would not be shelved and staff would bring back ideas at the next meeting. With regard to the proposed ordinance approved at the last Commission meeting creating a civilian CRA Board, Mr. Weiland requested the Commtssloners on the prevailing side consider delaying the process at least until the budget cycle had been completed. In addition to the budget, there were a number of serious issues facing the current CRA Board, and Mr. Weiland did not feel It was the appropriate time for a new board to assume the responsibilities of the current eRA Board. Mr. Hay believed the points expressed by Mr. Weiland were valid and as such, he had no objection to establishing a reasonable and acceptable tlmetlne for a smooth transition of the CRA Agency Board. In response to her inquiry, Ms. Ross was advised the July 4th celebration would be similar to last year's celebration at the Intracoastal Park building. Ms. Biscuitl noted the event would be sponsored by the Town of Ocean Ridge. XVIII. Adjournment There being no further business to discuss, the meeting properly adjourned at 8:49 p.m. /' t) . ) y~./ c-.l6:r1~ .~.. .t,. Stephanie D. Kahn Recording secretary 060909 16 MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD SPECIAL MEmNG HELD ON JUNE 16, 2009, AT 5:45 P.M., IN CITY COMMISSION CHAMBERS, BOYNTON BEACH, FLORIDA PRESENT: Jerry Taylor, Chair Woodrow Hay, Vice Chair Marlene Ross Ron Weiland Lisa Bright, Executive Director James Cherof, Board Attorney Absent: Jose Rodriguez I. Call to Order - Chair Jerry Taylor Chair Taylor called the meeting to order at 5:46 p.m. II. Pledge to the Flag and Invocation Vice Chair Hay offered the invocation which was followed by the Pledge of Allegiance to the Flag. III. Roll Call The Recording Secretary called the roll. IV. Consideration of purchase offer from Gary M. Braisted for the CRA's 4COP liquor license #60-00711 Chair Taylor noted an offer of $65,000 had been received by the CRA for the purchase of Its liquor license. After payment of the broker's fee, a net fee to the eRA of $53,000- $55,000 was antldpated. The Board could either accept the offer or present a counter offer to the buyer. Vice Chair Hay requested input from staff relating to the options available. He suggested a possible counter offer of $75,000. However, If the license were difficult to sell, It would probably be to the CRA's advantage to accept the offer of $65,000. Mike Simon, Development Manager, noted the supply for secondary alcoholic beverage licenses currently exceeded the demand as a result of the economic climate. 1 Meeting Minutes Special Community Redevelopment Agency ~ynton 1Ie8ch, Florida J..... .~" 2009 Many restaurants and nightclubs had closed, and their licenses had been added to the market supply. As previously discussed, the market value for the license had dropped from a range of $95,000-$110,000 to $70[000-$75,000 in a six-month period. The license to be sold was not only a liquor license, but a nightclub license as well. Mr. Simon had been informed by the broker that Mr. Braisted was anxious to purchase the license. However, Mr. Simon was not aware of how strong the buyer's motivation was relative to the purchase price. Mr. Simon believed the buyer was aware of discussions at the last CRA Board meeting noting the market value for the license was currently between $70,000 and $80,000. With the exception of Mr. Bralsted's offer, no other offers had been received since the listing of the opportunity six months ago. Mr. Weiland inquired whether Mr. Simon was aware of the type of nightclub that was associated with the license and whether it was a desired business for the south end of Federal Highway in Boynton Beach. Mr. Simon did not have knowledge as to the nightclub to be opened. He noted the purchase of the license was not contingent upon the location and as such, the buyer was not required to open his business in Boynton Beach. The purchaser would have 210 days within which to transfer and apply for an active license as a nightclub, and the Board would have an opportunity to approve the use. If It had been determined the purchaser had been acting Inappropriately in the conduct of his business, both the Planning and Development Board and the City Commission would have an opportunity to deny the use. Mr. Bratsted, however, would still own the license which would be valid in Palm Beach County. Lisa Bright, Executive Director, noted the broker, Tom Prakas, could not be present. It was In the best interest of Mr. Prakas to secure the highest dollar value as he represented the Board, and his commission was proportionate to the value of the purchase price. The item was brought before the Board as the pool of available liquor licenses had been Increasing while Interest had been declining. Jim Cherof, Board Attorney, noted the acceptable purchase price would be determined solely by the Board. If the cash from the transaction was needed to fund projects at this time, the Board could be more motivated to accept the offering price. With regard to Mr. Bralsted's offer, Attorney Cherof suggested It be establIshed that the price accepted by the Board would be a net amount less the broker's fee. There would be no other deductions at the closing. Additionally, the agreement contained language pertaining to warranties and representations relating to debts and other obligations. Attorney Cherof recommended the license be sold "as-Is, where-is." There should be no other representations, guarantees or warranties. Mr. Simon advised a second request had been made by staff to extend the listing agreement for an additional three months. Without a location attached to the license, the Inactive escrow status could not be maintained indefinitely. The broker's fee had 2 Meeting Minutes SpecIal Community Redevelopment Agency ~nton 1eKh, florida June 16, 2009 been negotiated down from the initial listing agreement to 100/0 or a minimum of $10,000. Mr. Simon believed Attorney Cherat's suggestion to establish a net fee would be advantageous to the CRA. Vice Chair Hay suggested the Board accept the offer of $65,000. Mr. Simon explained If the Board agreed to accept a net amount as suggested by Attorney Cherof, the balance to the CRA on a $65,000 purchase price would amount to $58,500 after deducting the broker's 100/0 fee. Attorney Cherof recommended accepting the net amount of $65,000, less the broker's fee, with the buyer absorbing the closing costs. The Board concurred and also agreed to the language modifications recommended by Attorney Cherof. Motion Vice Chair Hay moved that the Board sell at $65,000 less the broker's fee, and no closing costs. Mr. Weiland seconded the motion that passed unanimously. VI. Adjournment There being no further business to discuss, the meeting properly adjourned at 6:01 p.m. . ~- ;, - . L. I." " .' f? l-';" ':&d' I, ~;'""'""'- . " Stephanie D. Kahn Recording Secretary 061609 3 ~~~qY~Te~ C . East Side'" West SOlde"'Seaside Renaolssance eRA BOARD MEETING OF: July 14, 2009 I x I Consent Agenda I Old Business I I New Business Public Hearing Other SUBJECT: Monthly Financial Report SUMMARY: Monthly budget report to the eRA Board representing the revenues and expenses for the month ending June 30, 2009. FISCAL IMP ACT: None CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS: Approve June financials. ~~ Susan Harris Finance Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Financial Report.doc 30-2009 03:09 PM -GENERAL FUND ANCIAL SUMMARY 'ENUE SUMMARY , . I . F . INCOME ~INA RENT & GRANT INC ~KETING INCOME 'ESTIVALS & EVENT INCOME :NVESTMENT INCOME II SCELLANEOUS lTHER FINANCING SOURCES :AL REVENUES 'ENDITURE SUMMARY ,EGISLATIVE illMINISTRATIVE 'INANCE :NSURANCES 'ROFESSIONAL SERVICES 'LANNING ~UILDINGS & PROPERTY 1ARINA :OMMUNICATIONS & TECHNOLO :ONTINGENCY 1ARKETING ,PECIAL EVENTS ~MPLOYEE BEBEFITS )EBT SERVICE rRANSFER OUT rAL EXPENDITURES VENUES OVER/(UNDER) EXPENDITURES BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 ORIGINAL BUDGET 8,300,000 1,287,500 o 15,000 50,000 o 3,400,000 13,052,500 AMENDED BUDGET 8,300,000 1,287,500 o 15,000 50,000 o 3,400,000 13,052,500 MONTHLY ACTIVITY 0.00 79,669.02 0.00 0.00 0.00 10.50 0.00 79,679.52 YEAR-TO-DATE BALANCE 8,315,313.00 672,560.28 2,475.00 1,000.00 32,153.45 103.20 0.00 9,023,604.93 TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,313.00) 614,939.72 2,475.00) 14,000.00 17,846.55 103.20) 3,400,000.00 4,028,895.07 0.18- 47.76 0.00 93.33 35.69 0.00 100.00 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- 30.87 16,900 211,942 151,415 115,470 485,000 209,880 496,210 1,287,500 62,120 314,493 140,566 95,087 227,917 3,066,581 6,171,419 13,052,500 17,900 211,942 151,415 115,470 485,000 209,880 496,210 1,287,500 62,120 313,493 140,566 95,087 227,917 3,066,581 6,171,419 13,052,500 227.04 15,998.60 11,220.34 0.00 2,284.20 15,490.78 12,853.86 85,506.69 1,377.18 0.00 10,429.53 6,524.86 12,478.61 0.00 0.00 174,391.69 5,215.30 145,065.89 102,291.25 64,017.78 141,197.24 145,807.96 200,014.81 629,106.25 31,072 .07 0.00 87,489.84 66,038.25 134,401.79 2,789,729.28 3,085,709.50 7,627,157.21 0.00 0.00 0.00 0.00 56,780.15 0.00 9,900.00 0.00 689.97 0.00 0.00 0.00 0.00 0.00 0.00 67,370.12 12,684.70 66,876.11 49,123.75 51,452.22 287,022.61 64,072.04 286,295.19 658,393.75 30,357.96 313,493.00 53,076.16 29,048.75 93,515.21 276,851.72 3,085,709.50 5,357,972.67 70.86 31.55 32.44 44.56 59.18 30.53 57.70 51.14 48.87 100.00 37.76 30.55 41. 03 9.03 50.00 41. 05 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- 0.00 o o 94,712.17) 1,396,447.72 67,370.12) ( 1,329,077.60) 6-30-2009 03: 01 -GENERAL FUND REVENUES T . I . F . INCOME 01-41000 T.I.F. COLLECTIONS TOTAL T.I.F.INCOME MARINA RENT & GRANT INC 01-42115 MARINA RENTS 01-42116 MISCELLANEOUS RENTS FRO PROPE 01-42117 MARINA FUEL SALES 01-4211B MARINA MISC INCOME TOTAL MARINA RENT & GRANT INC MARKETING INCOME 01-43100 TROLLY MARKETING INCOME TOTAL MARKETING INCOME FESTIVALS & EVENT INCOME 01-44100 FESTIVAL & EVENT INCOME TOTAL FESTIVALS & EVENT INCOME INVESTMENT INCOME 01-46100 INTEREST INCOME TOTAL INVESTMENT INCOME CONTRIBUTIONS & DONATION MISCELLANEOUS 01-4B100 MISCELLANEOUS INCOME TOTAL MISCELLANEOUS OTHER FINANCING SOURCES 01-49100 OTHER FINANCING SOURCES TOTAL OTHER FINANCING SOURCES TOTAL REVENUES BOYNTON BEACH REVENUE & EXPENDITURES REPO~ ,UNAUDITED) AS OF: JUNE 30TH, 2009 ORIGINAL BUDGET B,300,000 B,300,000 BO,OOO 7,200 1,200,000 300 1,2B7,500 15,000 15,000 50,000 50,000 3,400,000 3,400,000 13,052,500 AMENDED BUDGET 8,300,000.0 8,300,000 BO,OOO.O 7,200.0 1,200,000.0 300.0 1,2B7,500 o o 15,000.0 15,000 50,000.0 50,000 o o 3,400,000.0 3,400,000 13,052,500 0.0 o 0.0 o MONTHLY ACTIVITY 0.00 0.00 0.00 600.00 79,069.02 0.00 79,669.02 0.00 0.00 0.00 0.00 0.00 0.00 10.50 10.50 0.00 0.00 79,679.52 YEAR-TO-DATE BALANCE B.315,313.00 B,315,313.00 70.263.24 5,400.00 595,B48.12 1,04B.92 672,560.2B 2,475.00 2,475.00 1,000.00 1,000.00 32,153.45 32,153.45 103.20 103.20 0.00 0.00 9,023,604.93 TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15,313.00) 15,313.00) 9,736.76 1,BOO.00 604,151.88 74B.92) 614,939.72 2,475.00) 2,475.00) 14,000.00 14,000.00 17,846.55 17,846.55 0.18- O.lB- 12.17 25.00 50.35 249.64- 47.76 0.00 0.00 93.33 93.33 35.69 35.69 103.20) 0.00 103.20) 0.00 3,400,000.00 100.00 3,400,000.00 100.00 4,02B,B95.07 30.87 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- P2 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND ISLATIVE ~TMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING ~HASED/CONTRACT SERV -51010-200 CONTRACTUAL EXPENSE 7,500 7,500 0.00 0.00 0.00 7,500.00 100.00 -51010-203 MISCELLANEOUS 0 1,000 0.00 1,700.00 0.00 700.00) 70.00- -51010-216 ADVERTISING & PUBLIC NOTI 2,700 2,700 227.04 2,227.24 0.00 472.76 17.51 -51010-225 ASSOC. MEETINGS & SEMINAR 2,500 2,500 0.00 799.47 0.00 1,700.53 68.02 -51010-227 DELIVERY SERVICES 3,600 3,600 0.00 681. 00 0.00 2,919.00 81. 08 TOTAL PURCHASED/CONTRACT SERV 16,300 17,300 227.04 5,407.71 0.00 11,892.29 68.74 PLIES -51010-310 OFFICE SUPPLIES 600 600 0.00 192.41) 0.00 792.41 132.07 TOTAL SUPPLIES 600 600 0.00 192.41) 0.00 792.41 132.07 TOTAL LEGISLATIVE 16,900 17,900 227.04 5,215.30 0.00 12,684.70 70.86 6-30-2009 03: BOYNTON BEACH REVENUE & EXPENDITURES REPO~ .JNAUDITED) AS OF: JUNE 30TH, 2009 01 -GENERAL FUND 1illMINISTRATIVE % OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING PERSONNEL SERVICES 01-51230-100 PERSONNEL SERVICES 176,917 176,917 13,701.92 134,116.31 0.00 42,800.69 24.19 01-51230-115 CAR ALLOWANCE 5,400 5,400 416.00 3,952.00 0.00 1,448.00 26.81 TOTAL PERSONNEL SERVICES 182,317 182,317 14,117.92 138,068.31 0.00 44,248.69 24.27 PURCHASED/CONTRACT SERV 01-51230-225 ASSOC. MEETINGS & SEMINAR 3,750 3,750 1,386.83 3,923.75 0.00 173.75) 4.63- 01-51230-226 MEMBERSHIP DUES 6,675 6,675 0.00 147.56) 0.00 6,822.56 102.21 01-51230-227 DELIVERY SERVICES 3,000 3,000 0.00 477.39 0.00 2,522.61 84.09 TOTAL PURCHASED/CONTRACT SERV 13,425 13,425 1,386.83 4,253.58 0.00 9,171.42 68.32 SUPPLIES 01-51230-310 OFFICE SUPPLIES 8,500 8,500 20.63 992.57 0.00 7,507.43 88.32 01-51230-315 POSTAGE 2,000 2,000 320.97 792.46 0.00 1,207.54 60.38 01-51230-355 SUBSCRIPTIONS 200 200 0.00 0.00 0.00 200.00 100.00 01-51230-360 BOOKS & PUBLICATIONS 500 500 0.00 56.72 0.00 443.28 88.66 TOTAL SUPPLIES 11,200 11,200 341. 60 1,841.75 0.00 9,358.25 83.56 CAPITAL EXPENDITURES 01-51230-400 EQUIPMENT COSTS 5,000 5,000 152.25 902.25 0.00 4,097.75 81.96 TOTAL CAPITAL EXPENDITURES 5,000 5,000 152.25 902.25 0.00 4,097.75 81. 96 DEPRECIATION & AMORT TOTAL ADMINISTRATIVE 211,942 211,942 15,998.60 145,065.89 0.00 66,876.11 31. 55 P4 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND 'ANCE 'ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING .SONNEL SERVICES -51325-100 PERSONNEL SERVICES 130,260 130,260 10,020.00 95,190.00 0.00 35,070.00 26.92 TOTAL PERSONNEL SERVICES 130,260 130,260 10,020.00 95,190.00 0.00 35,070.00 26.92 :CHASED/CONTRACT SERV ,-51325-200 CONTRACTUAL EXPENSE 2,280 2,280 83.02 1,822.56 0.00 457.44 20.06 ,-51325-201 BANK FEES 3,000 3,000 0.00 1,826.27 0.00 1,173.73 39.12 ,-51325-225 ASSOC. MEETINGS & SEMINAR 5,750 5,750 897.19 1,804.92 0.00 3,945.08 68.61 .-51325-226 MEMBERSHIP DUES 725 725 0.00 759.10 0.00 34.10) 4.70- ,-51325-227 DELIVERY COSTS 1,000 1,000 0.00 25.43 0.00 974.57 97.46 ,-51325-229 CAREER DEVELOPMENT 3,000 3,000 130.00 130.00 0.00 2,870.00 95.67 TOTAL PURCHASED/CONTRACT SERV 15,755 15,755 1,110.21 6,368.28 0.00 9,386.72 59.58 'PLIES .-51325-310 OFFICE SUPPLIES 4,500 4,500 35.13 654.38 0.00 3,845.62 85.46 .-51325-360 BOOKS & PUBLICATIONS 500 500 55.00 78.59 0.00 421.41 84.28 .-51325-365 OFFICE PRINTING COSTS 400 400 0.00 0.00 0.00 400.00 100.00 TOTAL SUPPLIES 5,400 5,400 90.13 732.97 0.00 4,667.03 86.43 'ITAL EXPENDITURES 'RECIATION & AMORT TOTAL FINANCE 151,415 151,415 11,220.34 102,291.25 0.00 49,123.75 32.44 6-30-2009 03: BOYNTON BEACH REVENUE & EXPENDITURES REPOk_ \UNAUDITED) AS OF: JUNE 30TH, 2009 01 -GENERAL FUND INSURANCES DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING PURCHASED/CONTRACT SERV 01-51410-200 CONTRACTUAL EXPENSE 28,916 28,916 0.00 16,139.10 0.00 12,776.90 44.19 01-51410-213 GENERAL PROPERTY COVERAGE 76,394 76,394 0.00 41,847.87 0.00 34,546.13 45.22 01-51410-214 EMPLOYEE FIDELITY COVERAG 1,650 1,650 0.00 990.81 0.00 659.19 39.95 01-51410-215 DIRECTORS & OFFICERS COVE 8,510 8,510 0.00 5,040.00 0.00 3,470.00 40.78 TOTAL PURCHASED/CONTRACT SERV 115,470 115,470 0.00 64,017.78 0.00 51,452.22 44.56 TOTAL INSURANCES 115,470 115,470 0.00 64,017.78 0.00 51,452.22 44.56 P6 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND FESSIONAL SERVICES ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING .CHASED/CONTRACT SERV -51420-200 CONTRACTUAL EXPENSE -51420-201 CONTRACT LEGAL -51420-204 CITY STAFF COSTS TOTAL PURCHASED/CONTRACT SERV 276,000 276,000 0.00 124,783.66 56,780.15 94,436.19 34.22 200,000 200,000 2,284.20 11,945.55 0.00 188,054.45 94.03 9,000 9,000 0.00 4,468.03 0.00 4,531.97 50.36 485,000 485,000 2,284.20 141,197.24 56,780.15 287,022.61 59.18 485,000 485,000 2,284.20 141,197.24 56,780.15 287,022.61 59.18 TOTAL PROFESSIONAL SERVICES 6-30-2009 03:l BOYNTON BEACH REVENUE & EXPENDITURES REPOR', \UNAUDITED) AS OF: JUNE 30TH, 2009 01 -GENERAL FUND PLANNING DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING PERSONNEL SERVICES 01-51440-100 PERSONNEL SERVICES 184,205 184,205 14,169.62 134,611.39 0.00 49,593.61 26.92 01-51440-115 CAR ALLOWANCE 5,400 5,400 416.00 3,952.00 0.00 1,448.00 26.81 TOTAL PERSONNEL SERVICES 189,605 189,605 14,585.62 138,563.39 0.00 51,041. 61 26.92 PURCHASED/CONTRACT SERV 01-51440-225 ASSOC. MEETINGS & SEMINAR 11,000 11,000 839.55 3,440.06 0.00 7,559.94 68.73 01-51440-226 MEMBERSHIP DUES 825 825 0.00 275.00 0.00 550.00 66.67 01-51440-227 DELIVERY SERVICES 1,000 1,000 0.00 245.98 0.00 754.02 75.40 01-51440-229 CAREER DEVELOPMENT 2,500 2,500 0.00 999.00 0.00 1,501.00 60.04 TOTAL PURCHASED/CONTRACT SERV 15,325 15,325 839.55 4,960.04 0.00 10,364.96 67.63 SUPPLIES 01-51440-310 OFFICE SUPPLIES 3,500 3,500 65.61 960.27 0.00 2,539.73 12 .56 01-51440-355 SUBSCRIPTIONS 150 150 0.00 0.00 0.00 150.00 100.00 01-51440-360 BOOKS & PUBLICATIONS 300 300 0.00 116.75 0.00 183.25 61. 08 01-51440-365 OFFICE PRINTING COSTS 1,000 1,000 0.00 1,207.51 0.00 207.51) 20.75- TOTAL SUPPLIES 4,950 4,950 65.61 2,284.53 0.00 2,665.47 53.85 2APITAL EXPENDITURES DEPRECIATION & AMORT TOTAL PLANNING 209,880 209,880 15,490.78 145,807.96 0.00 64, 012.04 30.53 P8 lO-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND ~DINGS & PROPERTY ~TMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING :HASED/CONTRACT SERV -51620-200 CONTRACTUAL EXPENSE 2,700 2,700 224.91 1,795.99 0.00 904.01 33.48 -51620-201 PROPERTY TAXES 160,000 160,000 3,141.09 68,322.05 0.00 91,677.95 57.30 -51620-205 RENTAL OF OFFICES 50,760 50,760 3,300.00 35,284.90 9,900.00 5,575.10 10.98 -51620-206 MAINTENENCE & CLEANING 12,880 12,880 0.00 6,083.62 0.00 6,796.38 52.77 -51620-208 EQUIPMENT LEASES 25,000 25,000 1,051.72 15,297.38 0.00 9,702.62 38.81 -51620-209 PROPERTY MAINTENENCE COST 216,370 216,370 4,012.00 65,182.14 0.00 151,187.86 69.87 -51620-224 SIGNAGE 10,000 10,000 0.00 700.00 0.00 9,300.00 93.00 TOTAL PURCHASED/CONTRACT SERV 477,710 477,710 11,729.72 192,666.08 9,900.00 275,143.92 57.60 PLIES -51620-325 ELECTRICITY COSTS 12,500 12,500 517.11 3,737.97 0.00 8,762.03 70.10 -51620-326 WATER CHARGES 6,000 6,000 607.03 3,610.76 0.00 2,389.24 39.82 TOTAL SUPPLIES 18,500 18,500 1,124.14 7,348.73 0.00 11,151.27 60.28 ITAL EXPENDITURES RECIATION & AMORT TOTAL BUILDINGS & PROPERTY 496,210 496,210 12,853.86 200,014.81 9,900.00 286,295.19 57.70 6-30-2009 03, M BOYNTON BEACH REVENUE & EXPENDITURES REPO~. (UNAUDITED) AS OF: JUNE 30TH, 2009 01 -GENERAL FUND MARINA % OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING PURCHASED/CONTRACT SERV 01-51630-200 CONTRACTUAL 500 500 0.00 450.00 0.00 50.00 10.00 01-51630-209 PROPERTY MAINTENENCE 35,000 35,000 1,239.39 23,052.50 0.00 11,947.50 34.14 01-51630-241 MARINA FUEL MANAGEMENT 148,000 148,000 12,333.00 110,997.00 0.00 37,003.00 25.00 01-51630-242 MARINE FUEL STATION OVERH 50,000 50,000 3,167.22 25,708.98 0.00 24,291. 02 48.58 TOTAL PURCHASED/CONTRACT SERV 233,500 233,500 16,739.61 160,208.48 0.00 73,291.52 31.39 SUPPLIES 01-51630-325 ELECTRIC COSTS 20,000 20,000 1,576.23 9,063.42 0.00 10,936.58 54.68 01-51630-326 WATER COSTS 1,800 1,800 194.94 1,581.65 0.00 218.35 12.13 01-51630-327 GASOLINE & DEISEL FUEL PU 1,008,000 1,008,000 65,319.94 449,578.14 0.00 558,421.86 55.40 01-51630-328 MARINA DIESEL SALES TAX 19,200 19,200 1,675.97 8,674.56 0.00 10,525.44 54.82 TOTAL SUPPLIES 1,049,000 1,049,000 68,767.08 468,897.77 0.00 580,102.23 55.30 CAPITAL EXPENDITURES 01-51630-400 EQUIPMENT COSTS 5,000 5,000 0.00 0.00 0.00 5,000.00 100.00 TOTAL CAPITAL EXPENDITURES 5,000 5,000 0.00 0.00 0.00 5,000.00 100.00 TOTAL MARINA 1,287,500 1,287,500 85,506.69 62~,106.25 0.00 658,393.75 51. 14 P10 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND MUNICATIONS & TECHNOLO ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING CHASED/CONTRACT SERV -51650-200 CONTRACTUAL EXPENSE 5,500 5,500 0.00 925.00 0.00 4,575.00 83.18 -51650-210 CITY IT SUPPORT 20,000 20,000 0.00 8,568.34 0.00 11,431.66 57.16 -51650-212 FINANCIAL SOFTWARE MAINTE 6,500 6,500 0.00 5,252.00 0.00 1,248.00 19.20 TOTAL PURCHASED/CONTRACT SERV 32,000 32,000 0.00 14,745.34 0.00 17,254.66 53.92 'PLIES -51650-330 TELEPHONE LINES 12,200 12,200 897.34 8,282.43 0.00 3,917.57 32.11 -51650-340 CELLULAR PHONES 7,920 7,920 479.84 5,905.03 689.97 1,325.00 16.73 TOTAL SUPPLIES 20,120 20,120 1,377.18 14,187.46 689.97 5,242.57 26.06 'ITAL EXPENDITURES -51650-400 EQUIPMENT COSTS 10,000 10,000 0.00 2,139.27 0.00 7,860.73 78.61 TOTAL CAPITAL EXPENDITURES 10,000 10,000 0.00 2,139.27 0.00 7,860.73 78.61 TOTAL COMMUNICATIONS & TECHNOLO 62,120 62,120 1,377.18 31,072.07 689.97 30,357.96 48.87 6-30-2009 03: .-1 01 -GENERAL FUND CONTINGENCY DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET BOYNTON BEACH REVENUE & EXPENDITURES REPOk. (UNAUDITED) AS OF: JUNE 30TH, 2009 AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PURCHASED/CONTRACT SERV 01-51990-200 CONTRACTUAL EXPENSE TOTAL PURCHASED/CONTRACT SERV 314,493 314,493 313,493 313,493 0.00 0.00 0.00 0.00 0.00 0.00 313,493.00 313,493.00 100.00 100.00 TOTAL CONTINGENCY 0.00 313,493.00 100.00 314,493 313,493 0.00 0.00 P12 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND KETING ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING SONNEL SERVICES -57400-100 PERSONNEL SERVICES 86,632 86,632 6,722.46 65,007.22 0.00 21,624.78 24.96 TOTAL PERSONNEL SERVICES 86,632 86,632 6,722.46 65,007.22 0.00 21,624.78 24.96 .CHASED/CONTRACT SERV -57400-200 CONTRACTUAL EXPENSE 8,500 8,500 0.00 0.00 0.00 8,500.00 100.00 -57400-216 ADVERTISING & PUBLIC NOTI 2,000 2,000 0.00 2,810.00 0.00 810.00) 40.50- -57400-218 ANNUAL REPORT & BROCHURES 10,000 10,000 0.00 2,920.27 0.00 7,079.73 70.80 -57400-225 ASSOC. MEETINGS & SEMINAR 2,000 2,000 32.45 1,495.35 0.00 504.65 25.23 -57400-226 MEMBERSHIP DUES 1,334 1,334 295.00 611.50 0.00 722.50 54.16 -57400-227 DELIVERY SERVICES 2,500 2,500 0.00 271.05 0.00 2,228.95 89.16 -57400-229 CAREER DEVELOPMENT 0 0 3,195.00 3,195.00 0.00 3,195.00) 0.00 -57400-236 PHOTOGRAPHY / VIDEOS 10,000 10,000 0.00 6,842.82 0.00 3,157.18 31. 57 TOTAL PURCHASED/CONTRACT SERV 36,334 36,334 3,522.45 18,145.99 0.00 18,188.01 50.06 'PLIES -57400-310 OFFICE SUPPLIES 7,500 7,500 36.62 1,222.73 0.00 6,277.27 83.70 -57400-355 SUBSCRIPTIONS 1,100 1,100 148.00 694.38 0.00 405.62 36.87 .-57400-360 BOOKS & PUBLICATIONS 100 100 0.00 0.00 0.00 100.00 100.00 .-57400-365 OFFICE PRINTING COSTS 8,900 8,900 0.00 2,419.52 0.00 6,480.48 72.81 TOTAL SUPPLIES 17,600 17,600 184.62 4,336.63 0.00 13,263.37 75.36 'RECIATION & AMORT TOTAL MARKETING 140,566 140,566 10,429.53 87,489.84 0.00 53,076.16 37.76 l 6-30-2009 03: .-1 BOYNTON BEACH REVENUE & EXPENDITURES REPOk. (UNAUDITED) AS OF: JUNE 30TH, 2009 01 -GENERAL FUND SPECIAL EVENTS % OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING PERSONNEL SERVICES 01-57500-100 PERSONNEL SERVICES 83,262 83,262 6,463.22 62,544.45 0.00 20,717.55 24.88 TOTAL PERSONNEL SERVICES 83,262 83,262 6,463.22 62,544.45 0.00 20,717.55 24.88 PURCHASED/CONTRACT SERV 01-57500-225 ASSOC. MEETINGS & SEMINAR 2,500 2,500 41. 00 1,473.01 0.00 1,026.99 41. 08 01-57500-226 MEMBERSHIP DUES 325 325 0.00 658.95 0.00 333.95) 102.75- TOTAL PURCHASED/CONTRACT SERV 2,825 2,825 41. 00 2,131.96 0.00 693.04 24.53 SUPPLIES 01-57500-310 OFFICE SUPPLIES 3,500 3,500 20.64 1,015.50 0.00 2,484.50 70.99 01-57500-355 SUBSCRIPTIONS 250 250 0.00 96.34 0.00 153.66 61. 46 01-57500-360 BOOKS & PUBLICATIONS 250 250 0.00 0.00 0.00 250.00 100.00 TOTAL SUPPLIES 4,000 4,000 20.64 1,111.84 0.00 2,888.16 72 .20 CAPITAL EXPENDITURES 01-57500-400 EQUIPMENT COSTS 5,000 5,000 0.00 250.00 0.00 4,750.00 95.00 TOTAL CAPITAL EXPENDITURES 5,000 5,000 0.00 250.00 0.00 4,750.00 95.00 DEPRECIATION & AMORT TOTAL SPECIAL EVENTS 95,087 95,087 6,524.86 66,038.25 0.00 29,048.75 30.55 P14 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -GENERAL FUND LOYEE BEBEFITS 'ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING .sONNEL SERVICES -59000-151 F.I.C.A. 43,345 43,345 3,186.34 31,256.35 0.00 12,088.65 27.89 -59000-152 MEDICARE 9,830 9,830 745.18 7,770.66 0.00 2,059.34 20.95 -59000-153 RETIREMENT PLAN 401(a) 74,512 74,512 7,385.00 41,602.00 0.00 32,910.00 44.17 ,-59000-154 WORKERS COMP INSURANCE 6,356 6,356 158.05 2,312.54 0.00 4,043.46 63.62 ,-59000-155 HEALTH INSURANCE 53,856 53,856 0.00 36,203.46 0.00 17,652.54 32.78 ,-59000-156 DENTAL INSURANCE 3,698 3,698 225.50 2,385.73 0.00 1,312.27 35.49 ,-59000-157 LIFE INSURANCE 2,614 2,614 169.10 982.03 0.00 1,631.97 62.43 ,-59000-158 SHORT / LONG TERM DISABIL 3,112 3,112 580.52 2,173.62 0.00 938.38 30.15 ,-59000-159 UNEMPLOYMENT CHARGES 5,000 5,000 0.00 1,650.00 0.00 3,350.00 67.00 ,-59000-160 VISION INSURANCE 594 594 28.92 345.76 0.00 248.24 41.79 -59000-161 COMPENSATED ABSENSES 25,000 25,000 0.00 7,719.64 0.00 17,280.36 69.12 TOTAL PERSONNEL SERVICES 227,917 227,917 12,478.61 134,401.79 0.00 93,515.21 41.03 TOTAL EMPLOYEE BEBEFITS 227,917 227,917 12,478.61 134,401.79 0.00 93,515.21 41.03 6-30-2009 03: BOYNTON BEACH REVENUE & EXPENDITURES REPOR" (UNAUDITED) AS OF: JUNE 30TH, 2009 01 -GENERAL FUND DEBT SERVICE % OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING DEBT SERVICE JTHER FINANCING USES 01-59800-990 TRANS OUT TO DEBT SERVICE 3,066,581 3,066,581 0.00 2,789,729.28 0.00 276,851. 72 9.03 TOTAL OTHER FINANCING USES 3,066,581 3,066,581 0.00 2,789,729.28 0.00 276,851.72 9.03 TOTAL DEBT SERVICE 3,066,581 3,066,581 0.00 2,789,729.28 0.00 276,851.72 9.03 P16 10-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 .GENERAL FUND ,SFER OUT ~TMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING :1:R FINANCING USES -59999-990 INTERFUND TRANSFERS OUT 6,171,419 6,171,419 0.00 3,085,709.50 0.00 3,085,709.50 50.00 rOTAL OTHER FINANCING USES 6,171,419 6,171,419 0.00 3,085,709.50 0.00 3,085,709.50 50.00 rOTAL TRANSFER OUT 6,171,419 6,171,419 0.00 3,085,709.50 0.00 3,085,709.50 50.00 !l.L EXPENDITURES 13,052,500 13,052,500 174,391.69 7,627,157.21 67,370.12 5,357,972.67 41. 05 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- BOOES OVER/ (UNDER) EXPENDITURES 0 0 94,712.17) 1,396,447.72 67,370.12) ( 1,329,077.60) 0.00 6-30-2009 03: 02 -PROJECTS FUND FINANCIAL SUMMARY BOYNTON BEACH REVENUE & EXPENDITURES REPOk_ ,UNAUDITED) AS OF: JUNE 30TH, 2009 ORIGINAL BUDGET MONTHLY ACTIVITY TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING REVENUE SUMMARY AMENDED BUDGET YEAR-TO-DATE BALANCE FESTIVALS & EVENT INCOME INVESTMENT INCOME MISCELLANEOUS OTHER FINANCING SOURCES rOTAL REVENUES EXPENDITURE SUMMARY OPERATING EXPENSES CAPITAL OUTLAY AFFORDABLE HOUSING ECONOMIC DEVELOPMENT PROJECTS AND PROGRAMS rOTAL EXPENDITURES REVENUES OVER/(UNDER) EXPENDITURES 0 0 0.00 12,065.79 0.00 12,065.79) 0.00 0 0 0.00 6,326.34 0.00 6,326.34) 0.00 300,000 300,000 0.00 0.00 0.00 300,000.00 100.00 6,671,419 6,671,419 0.00 3,085,709.50 0.00 3,585,709.50 53.75 6,971,419 6,971,419 0.00 3,104,101.63 0.00 3,867,317.37 55.47 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- 465,000 465,000 3,138.04 33,106.04 52,504.46 379,389.50 81.59 4,091,279 4,091,279 10,788.69 104,706.49 666,896.31 3,319,676.20 81.14 860,000 860,000 0.00 341,917.44 60,000.00 458,082.56 53.27 809,795 809,795 27,968.50 518,729.80 26,347.50 264,717.70 32.69 745,345 745,345 28,625.16 390,612.90 0.00 354,732.10 47.59 6,971,419 6,971,419 70,520.39 1,389,072.67 805,748.27 4,776,598.06 68.52 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- 0 0 70,520.39) 1,715,028.96 805,748.27) ( 909,280.69) 0.00 P1 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -PROJECTS FUND e:NUES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING TIVALS & EVENT INCOME -44100 FESTIVAL & EVENT INCOME 0 0.0 0.00 12,065.79 0.00 12,065.79) 0.00 TOTAL FESTIVALS & EVENT INCOME 0 0 0.00 12,065.79 0.00 12,065.79) 0.00 ESTMENT INCOME -46100 INTEREST INCOME 0 0.0 0.00 6,326.34 0.00 6,326.34) 0.00 TOTAL INVESTMENT INCOME 0 0 0.00 6,326.34 0.00 6,326.34) 0.00 CELLANEOUS -48100 MISCELLANEOUS INCOME 300,000 300,000.0 0.00 0.00 0.00 300,000.00 100.00 TOTAL MISCELLANEOUS 300,000 300,000 0.00 0.00 0.00 300,000.00 100.00 ER FINANCING SOURCES -49100 OTHER FINANCING SOURCES 500,000 500,000.0 0.00 0.00 0.00 500,000.00 100.00 -49900 TRANSFERS IN 6,171,419 6,171,419.0 0.00 3,085,709.50 0.00 3,085,709.50 50.00 TOTAL OTHER FINANCING SOURCES 6,671,419 6,671,419 0.00 3,085,709.50 0.00 3,585,709.50 53.75 AL REVENUES 6,971,419 6,971,419 0.00 3,104,101.63 0.00 3,867,317.37 55.47 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- 6-30-2009 03:. 02 -PROJECTS FUND OPERATING EXPENSES DEPARTMENTAL EXPENDITURES BOYNTON BEACH REVENUE & EXPENDITURES REPOR. (UNAUDITED) AS OF: JUNE 30TH, 2009 ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING PURCHASED/CONTRACT SERV 02-58100-202 CONTINGENCY EXPENSE 02-58100-203 CONTRACTUAL EXPENSE 02-58100-213 LEGAL FEES TOTAL PURCHASED/CONTRACT SERV TOTAL OPERATING EXPENSES 90,000 90,000 0.00 0.00 0.00 90,000.00 100.00 300,000 300,000 2,381.84 25,979.44 52,504.46 221,516.10 73.84 75,000 75,000 756.20 7,126.60 0.00 67,873.40 90.50 465,000 465,000 3,138.04 33,106.04 52,504.46 379,389.50 81. 59 465,000 465,000 3,138.04 33,106.04 52,504.46 379,389.50 81. 59 P3 10-2009 03: 09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 . PROJECTS FUND :TAL OUTLAY \RTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING [TAL EXPENDITURES -58200-400 LAND 650,000 650,000 0.00 0.00 0.00 650,000.00 100.00 -58200-404 CONSTRUCTION IN PROGRESS 2,000,000 2,000,000 788.69 86,986.49 616,896.31 1,296,117.20 64.81 -58200-405 SITE WORK AND DEMOLITION 75,000 75,000 0.00 7,720.00 0.00 67,280.00 89.71 -58200-406 INFRASTRUCTURE AND STREET 1,366,279 1,366,279 10,000.00 10,000.00 50,000.00 1,306,279.00 95.61 rOTAL CAPITAL EXPENDITURES 4,091,279 4,091,279 10,788.69 104,706.49 666,896.31 3,319,676.20 81.14 rOTAL CAPITAL OUTLAY 4,091,279 4,091,279 10,788.69 104,706.49 666,896.31 3,319,676.20 81.14 6-30-2009 03 M BOYNTON BEACH REVENUE & EXPENDITURES REPCh__ (UNAUDITED) AS OF: JUNE 30TH, 2009 02 -PROJECTS FUND ~FFORDABLE HOUSING DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING CAPITAL EXPENDITURES 02-58300-420 RESIDENTIAL IMPROVEMENT P 160,000 160,000 0.00 195.00 60,000.00 99,805.00 62.38 02-58300-421 HOME BUYERS ASSISTANCE PR 300,000 300,000 0.00 260,372.31 0.00 39,627.69 13 .21 02-58300-473 AFFORDABLE ACCESS PROGRAM 400,000 400,000 0.00 100,000.00 0.00 300,000.00 75.00 02-58300-474 HOB RESIDENTIAL IMPROV.PR 0 0 0.00 18,649.87) 0.00 18,649.87 0.00 TOTAL CAPITAL EXPENDITURES 860,000 860,000 0.00 341,917.44 60,000.00 458,082.56 53.27 TOTAL AFFORDABLE HOUSING 860,000 860,000 0.00 341,917.44 60,000.00 458,082.56 53.27 P5 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -PROJECTS FUND NOMIC DEVELOPMENT ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING 'ITAL EXPENDITURES :-58400-440 FACADE GRANTS-COMMERCIAL 75,000 75,000 0.00 27,989.29 26,347.50 20,663.21 27.55 :-58400-442 TRANSPORTATION PROGRAM 734,795 734,795 27,968.50 490,740.51 0.00 244,054.49 33.21 TOTAL CAPITAL EXPENDITURES 809,795 809,795 27,968.50 518,729.80 26,347.50 264,717.70 32.69 TOTAL ECONOMIC DEVELOPMENT 809,795 809,795 27,968.50 518,729.80 26,347.50 264,717.70 32.69 6-30-2009 03 'M BOYNTON BEACH REVENUE & EXPENDITURES REP\.-. . (UNAUDITED) AS OF: JUNE 30TH, 2009 02 -PROJECTS FUND PROJECTS AND PROGRAMS DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING CAPITAL EXPENDITURES 02-58500-460 COMMUNITY POLICING INNOVA 475/345 475,345 0.00 251,813.54 0.00 223/531.46 47.03 02-58500-480 COMMUNITY SPECIAL EVENTS 270,000 270,000 28,625.16 138,799.36 0.00 131,200.64 48.59 TOTAL CAPITAL EXPENDITURES 745,345 745/345 28/625.16 390/612.90 0.00 354,732.10 47.59 TOTAL PROJECTS AND PROGRAMS 745,345 745,345 28,625.16 390,612.90 0.00 354/732.10 47.59 P7 30-2009 03:09 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: JUNE 30TH, 2009 -PROJECTS FUND NSFER OUT - ASSET TRA 'ARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING [ER FINANCING USES :AL EXPENDITURES 6,971,419 6,971,419 70,520.39 1,389,072.67 805,748.27 4,776,598.06 68.52 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- TENUES OVER! (UNDER) EXPENDITURES o o ( 70,520.39) 1,715,028.96 805,748.27) ( 909,280.69) 0.00 ~~~qY~T8~ C . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14, 2009 I x I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Monthly Procurement Purchase Orders SUMMARY: . This item is per the January 13, 2009 CRA Board meeting re: Procurement Policy (minutes attached). . There are no items for the month of June 2009 that have not been previously approved by the CRA Board. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: None RECOMMENDATIONS: None C-o~ Susan Harris Finance Director T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board MeetingsI7-14-09 MeetinglPurchases Less Than $25.000.doc Meeting Minutes Community Redevelopment Agency Board Meeting ~nton BeIIdJ, FL .l8~ j.J, 2009 Mr. Weiland Inquired whether the $400,000 designated for RTG Construction, Inc. had been approved. Ms. Harris responded it had been approved In the budget process. Ms. Bright noted the expenditure had been approved by the Board prior to the budget, and was formally approved during the budget process. Whfle this Item was also budgeted for the Homebuyers' Assistance Program (HAP), some montes were designated specifically for RTG. Other Board-approved homeowners' assistance funds would be allocated from the proceeds remaining from bond #2. Motion Vice Chair Rodriguez moved approval. Mr. Hay seconded the motion that passed unanimously. C. Approval of Updated Administrative Policy Manual Chair Taylor noted Attorney Cherof wished to work with staff to make minor revisions to the document, which would subsequently be brought back before the Board. He requested a motion to table. MotIon Vice Chair Rodriguez moved to table. Mr. Hay seconded the motion that passed unanimously. D. Approval of Updated Procurement Policy Vice Chair Rodriguez inquired as to the previous dollar amount that coufd be approved by the Executive Director prior to the $25,000 procurement baseline. Ms. Harris responded any purchase under $10,000 could be approved by the Executive Director. The review of the policy had been part of the extensive process when all of the admlntstrative and financial procedures were reviewed for the 2008 audtt. Staff was aware the approval levels were outdated. Ms. Harris reviewed other CRA approval levefs and conferred with the CRA's auditor. It had been determined that the CRA mirrored the City's approval level. In line with the previous policy and the growth In the CRA, the approval levels were requIred to be updated. Vice Chair Rodriguez asserted he was not comfortable increaSing the 8JlPI'OVal level from $10,000 to $25,000. It was noted that white the aty Manager was authorized to approve any purchase under $25,000, he provided a report of the Items procured for the Board's review as part of the Consent Agenda. Vice ChaIr Rodriguez Inquired whether It was the Board's desire for the Executive DIrector to provide 8 report as well. Chair Taylor and Mr. Hay concurred. 4 Meeting Minutes Community Redevelopment Agency Board Meeting ~nton _ell, FL January 13, 2009 Motion Vice Chair Rodriguez moved the Board approve this purchasing poHcy, with the addttion that a monthly report be provided to this Board by the Executive Director outHnlng all those expenditures under $25,000. Mr. Wenand seconded the motion that passed unanimously. E. Approval of Sponsoring the Palm Beach County Business Development Board's 2009 Famltlarlzation Program (FAM) Ms. Ross noted she was pleased the CRA and the Oty were sharing the expense for the $2,000 sponsorship. She Inquired whether eRA Board members were involved or whether this pertained to staff participation. Ms. Bright explained the CRA had been approached by the City Commission, through the City Manager, to spilt the cost of the $5,000 membership ($2,500 to be paid by both the CRA and the City). Splitting the cost allowed for the participation of the Oty Manager and two COmmissioners. Membership was key to the CRA as an economic development engine. Vice Chair Rodriguez pointed out the event was not Included within the membership previously approved by the Board and Inquired whether this Item had been budgeted. It was noted the Item had not been budgeted and funds would be required to be allocated from contingency. Chair Taylor noted staff was recommending the Board sponsor the event at a cost of $1,000 and requesting the City contribute the remaining $1,000. Ms. Ross questioned the resolution Included with the meeting materials which had been adopted by the previous CRA Board on November 14, 2006. Ms. Bright noted the resolution had been Included In error. Vice Chair Rodriguez believed the sponsorship benefits for the event were wonderful, but did not feel the event was necessary. He felt the dollars could be put to better use. Ms. Bright pointed out that while the CRA had membership In the County Business Development Board, staff did not serve on the Board. Opportunities for CRA participation were always In addition to the membership and corresponded to the CRA's mission. Vice Chair Rodriguez felt the Issue should be cNscussed during the budget process. Chair Taylor noted the Board's sponsorship could be approved at this meettng, and a request could be made to the Oty Commission for Its share. 5 II!IRY~Te~ eRA Ii East Side-West Side-Seaside Renaissance REVISED eRA BOARD MEETING OF: July 14,2009 I x I Consent Agenda I I Old Business I I New Business I I Legal I I Other SUBJECT: Meetings with Senators Klein & Wexler for Potential 2010 Appropriation for the Boynton Harbor Marina Project SUMMARY: In January 2009, the City Commission approved two "shovel ready" projects for federal stimulus program consideration. The City has been awarded a $1.9 million appropriation for the implementation of the Seacrest Streetscape project which should begin construction after March 2010. The City's lobbying firm ofD.S. Strategies will secure has been sueeessful in seeuring one-on-one interviews with Congressmen Wexler and Klein for consideration of the Boynton Harbor Marina Plan. The appointment to meet with Congressman Wexler's offiee is Thursda-y, July 16,2009 and Congressman Klein's offiee is Frida-y, July 17,2009 in Washington, DC. FISCAL IMPACT: FY08-09 Budget Line Item-51 0 1 0-225 - $608.00 CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan & Boynton Harbor Marina Plan RECOMMENDATIONS: Approve the travel request for the Mayor/CRA Board Chair to travel to Washington, DC to meet with Congressmen Wexler and Klein to request a 2010 Budget Appropriation for the implementation of the Boynton Harbor Marina Plan. Travel will take place prior to September 30,2009. Jf T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\CRA Chair Travel to DC-Revised. doc 1~~qY~T2~'CRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I x I Consent Agenda I I Old Business I I New Business Legal I I Other SUBJECT: Meetings with Senators Klein & Wexler for Potential 2010 Appropriation for the Boynton Harbor Marina Project SUMMARY: In January 2009, the City Commission approved two "shovel ready" projects for federal stimulus program consideration. The City has been awarded a $1.9 million appropriation for the implementation of the Seacrest Streetscape project which should begin construction after March 2010. The City's lobbying firm of U.S. Strategies has been successful in securing one-on-one interviews with Congressmen Wexler and Klein for consideration of the Boynton Harbor Marina Plan. The appointment to meet with Congressman Wexler's office is Thursday, July 16,2009 and Congressman Klein's office is Friday, July 17,2009 in Washington, DC. FISCAL IMPACT: FY08-09 Budget Line Item-51O 1 0-225 - $608.00 CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan & Boynton Harbor Marina Plan RECOMMENDATIONS: Approve the travel request for the Mayor/CRA Board Chair to travel to Washington, DC to meet with Congressmen Wexler and Klein to request a 2010 Budget Appropriation for the implementation of the Boynton Harbor Marina Plan. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\CRA Chair Travel to DC.doc ~~~~Y~T2~ eRA Ii East Side-West S,de-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I Old Business I I New Business Public Hearing I X I Other SUBJECT: CRA Policing Activity Report for the Month of June, 2009 and District Stats for Months of May and June, 2009. (Info.Only) SUMMARY: Monthly report, providing activity and data on Crime in the CRA District: Mav 2009: · Crimes - 55 · Arrests - 20 · Calls for Service - 1717 June 2009: . Crimes - 70 . Arrests - 10 . Calls for Services - 1636 FISCAL IMPACT: Cost budgeted in FY 2008-2009 from Project Fund 02-58500-460 CRA PLAN, PROGRAM OR PROJECT: CRA Policing Innovations RECOMMENDATIONS: Info. Only T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7- 14-09 Meeting\CRA Crime Monthly Stats June:doc MONTH: JUNE 2009 CRA Police Team MONTHLY ACTIVITY REPORT 06101/2009 "";,":'~.~tm :;'~:::"",~,::,~,':i;),,~,',,:,..,:::.i::,.,:..:,,~...;,:,',:,:;;,.,i:,~c:,:,:,.~.."..'~.'.':,..,',~,'.:~::::.".',"~'~';':1~,'~3,:,..,;,~,O.:,'.','>;,~4~A~.. . . ..' . ..;i~:~~~/, " .". ", '" ..' .'. t~:~i~l~~Hh~cAj:unit:':;,ftIUis!>' ;;r '; "~i~earch:~ts,one.at130NE 16tbCt. 'nireearrests'Were ~iba&nbUiiteiJt~'arpg~,~~r "~ ~ :~~h' :,.,' ": .~~~.~~(~~~'~~weu..tbe~OBWifu~ ;;~~~~d~F.~e~l ~gb~ay ~~#~j~~~~. .' :~~ CQiidUcle~u1\ieiltory ofeqt\ipmthl:': .., ~;.~ Met with potentiateI fQT fu~ci1ses. :l~' G9nductedtratjic eJ1f'or~~~mtalopg theS,F.ederalffighway Coiridor , ,;'~J)pl,T9t',dtor>tjtt~FqrCe. ' . '. ,;:'ConducredQOL enforcementaI()Q8 theMUl( cotrldor;ZF, 4M,:and lOC arreSts 06108/2009 ': " ..-", " " , - , .. '~Atteiided eRA Coriunittee Meeting I: -- ':iOfficers attended the eRA Board M~g '. _, -I' ., ' . l:~:r$'()'Jed {he ~tireCRA 'JJiSjti~~~ ~"eJllcle~;' "'.f _,' ,.. '~: , - - " , '<<' I' , .. ., ',' ,'.. :, ~ i ' . :~~ A~$i~4,r~4~~otwitlicii11sfor.serViCe { . - , h CoD4uctedil\~eroUs e~patroJ,s at 200N,EJ1. Ave, KFe ~d 130 NE 4. Ave i ~ .~ ' 0,f,(15/2009 " '" t ~,- , -Conducted 2 test buys on 2 sepatate occasioIlS with 2 sepatate informants t;~Patrolled the HOB in vehicles I-Assisted CAT and SWAT with a search warrant; Cocaine, marijuana, pills, and a gun were recovered -All members attended the "Warrior Mindest" Seminar at BCC 06/22/2009 '.Patrolled the entire CRA District in vehicles. - Assisted road patrol with calls for service ".'8Couducted numerous extra patrols at 200 NE 12th Ave, KFC and 130 NE 4th Ave - Conducted traffic enforcement along the Federal Highway Corridor Misdemeanor Felony Citations Warrant Arrests Charges Filed Warrants Executed I TOTAL ARRESTS K- ~ ~- OD Cocaine I .1 gm Methatnphetamines 1- Marijuana J--- Heroin I Schedule II I Schedule III 1---'- Schedule IV I i---' Guns I , Cash Vehicles I i___ i Boynton Beach Police Department Year-lo-Date Crime Comparison Report 2008 1 2009 eRA District Jun-09 CRIMES Jun-09 Jun-08 + 1- May-09 + 1- Y-T-D Y-T-D + 1- 2009 2008 Criminal Homicide 1 1 0 0 1 1 2 -1 Sexual Offense 0 1 -1 0 0 3 2 1 Robberv 2 11 -9 8 -6 23 43 -20 Aggravated Assault 8 4 4 11 -3 46 38 8 Buralarv 19 1 18 9 10 84 62 22 Larceny 36 37 -1 25 11 207 201 6 Auto theft 4 5 -1 2 2 15 34 -19 TOTAL 70 60 10 55 15 379 382 -3 ARREITS Jun-09 Jun-08 + 1 May-09 + 1 Y-T-D Y-T-D 1 - - 2009 2008 + - ItI~"_~~ 1 0 1 0 1 1 1 0 ...... 0 0 0 0 0 0 1 -1 1 3 -2 0 1 6 14 -8 ~.,."'It 2 0 2 7 -5 18 16 2 0 1 -1 3 -3 9 6 3 5 11 -6 9 -4 47 29 18 1 1 0 1 0 3 4 -1 10 16 -6 20 -10 84 71 13 Jun-08 May-09 1636 1497 139 1717 -81 9420 132 7/8/2009 1I!~~<tY~T2~ eRA ill East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I Old Business I I New Business I I Public Hearing I X I Other SUBJECT: Boynton Beach CRA and Trolley Web site Statistics SUMMARY: Monthly report, generated by Google Analytics, providing data on the number of visitors to the CRA and Trolley websites: June 2 -Julv 2 Agency: 2,204 Trolley: 510 May 2 - June 1 (previous month) Agency: 1,639 Trolley: 382 FISCAL IMPACT: Cost budgeted in 2008/2009 from Project Fund Budget CRA PLAN, PROGRAM OR PROJECT: Transportation Concurrency Exception Area (TCEA) RECOMMENDATIONS: Info. Only ~t~ Margee Walsh Marketing and Communications Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Monthly website updates Jun.doc lJashboard - Uoogle Analytlcs adelspergerm@ci.boynton- beach.fLus Analytics Settings View Reports: : www.boyntonbeachtrolley.com Dashboard Saved Reports Visitors Traffic Sources Content Goals Custom Reporting Beta Settings Advanced Segments Beta Email Help Resources About this Report Conversion University Common Questions !-'a!1t I Settings I ~%count I Help I ~IP My Analytics Accounts: Boynton Beach Trolley (! RPr T~OLLtLY I Export Emai: Dashboard Visits 1lI Beta Advanced Segments: i All Visits Jun 2, 2009 - Jul 2, 2009 Graph by: 40 ,\ I,. I jIIIli'-',,1 "'. · ..." / ........, /-', J" I · \ I \ In ---.-. .' ~ '.1 " f ....""'" . i_,,2OllS i_1Ut" i Junr 21, 2009 i.lulle22,lGOS I Site Usage ~ 510 Visits ~ 1,328 Pageviews ~ 2.60 PagesNisit Visitors Overview 436 Visitors l_L..Lu _..11________ _._ _ _1_ __.__I____l__.L~__/u_.____'_~___/('}__~~_I"'\A.,L1n1 ~ 38.630,'0 Bounce Rate ~ 00:02:17 Avg. Time on Site ..,"'" ~ 78.43% % New Visits II Map Overlay '7 1'1 1'"1 f\f\f\ Uashboarc' - 'Joogle AnaJytics AnalyticE; SE!tting: Dashboart: Saved Reports Visito~ Traffic Sources Content Goals Custom Reporting Beta Settings Advanced Segments Beta Email I Help Reso~rces ! About this Report Conversion University Common Questions adelspergerm@ci.boynton- beach.fi.us Page 1 of2 I Settings I ~%count I Help I Sign Out V,ew Reports: ! www.boyntonbeachcra.com. My Analytics Accounts: Boynton Beach eRA ~y~ 'ac,",.CItA Export II Email i Dashboard I. Visits 200 Beta Advanced Segments: All Visits Jun 2, 2009 - Jul 2, 2009 Graph by: 200 .___,1 ~--.. f'-'\ ;-~ /..........V * ~. ~. ~. iJuneUI i.15,IG IJune2UVOl i.-2I.lIlOI I Site Usage ~ 2,204 Visits ~ 4,815 Pageviews ~ 2.18 PagesNisit I Visitors Overview 200 1 ,464 Visitors https://www.google.comlanalytics/reporting/?scid=2436175 ~ 56.81% Bounce Rate ~ 00:01 :59 Avg. Time on Site ~ 60.48% % New Visits II Map Overlay 200 7/3/2009 CRA Complaint and Comment Log , . ," '; :..ii::_ , ~, ,,~'" -",,>1k~lltf<l 2 6/1/2009 W ebsite Jack Burrie "It was really disappointing to read in the Boynton Forum, May 27,2009 Opinions & Views, that the Boynton Beach CRA board and staff recommended to abandon and close alleys and easements in the Heart of Boynton. Please don't give in to the problems, instead take back this public property from the criminal element." 954-781-2124 3 Phone call to 6/4/2009 CRA She and others would like the Trolley to have a route along Lawrence Road for those who live in Perry Village and Artessa Park Pallia S. 561-742-1398 6/23/09 Letter from ED to Mr. Burrie explaining that due to access to manholes, the alleyways would stay in the care, custody and control of the City. Theresa Utterback advised that the Trolley routes are changed once a year, however, the Trolley service was being reconsidered for budget purposes. April Majoy advised that she can attend the July 14 CRA Board She is a daily trolley rider, and thus very upset Meeting to discuss the about the South Trolley Route being decision during public cancelled. comment. Phone call to 4 6/12/2009 CRA Jolynn 561-327-4666 T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\CRA Complaint.Comment Log As of 6/1/09 CRA Complaint and Comment Log A B C 0 E F Read in the paper that South Trolley Route was going to be cancelled. She was upset because there was no other way to the "Frequent hospital. She did want to thank us for the 5 6/12/2009 Message Trolley Rider" not provided service, she was very pleased with it. N/A Upset the South Trolley Route was being cancelled. She lives in Leisureville and didn't 6/17/09 Theresa know of any other alternative transportation to Utterback sent her a the Hospital. Many Leisureville residents use letter enclosing the the trolley to go to the Hospital and she Shopper Hopper requested that we send her information for Schedule and the Palm alternative transportation so that it could be Tran Schedule. Along published in the Leisureville newspaper. She with applications for Phone call to requested that instead of canceling the South Palm Tran Connection 6 6/15/2009 CRA Janine Gordon 561-734-0353 Trolley maybe it could run 2 days a week. and THE LINK. uu",'", ... . uVU"'J ....."'., o.u.... un.., '''''J upset about the South Trolley Route being cancelled. Mentioned that she was also upset April Majoy advised when the Southern Route was split originally - that she can attend into the SE and SW Routes. She thanked us eRA Board Meeting for the great service, and mentioned that it to discuss the decision Phone call to was much more useful than the Shopper during public 7 6/16/2009 CRA Theresa Scutari 561-734-4309 Hopper. comment. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\CRA Complaint.Comment Log As of 6/ 1109 CRA Complaint and Comment Log A B C D E F 6/19/09 Theresa Utterback sent her a letter enclosing the Shopper Hopper schedule, Palm Tran information, THE LINK information and applicaton for Palm Tran Connection. She also advised Ms. Scutari to attend the next Board Meeting, July 14 to publically discuss her concerns for canceling the service. Also advised She basically wrote what she stated on the her that the fee for phone but added that charging a fee should be trolley service would Letter Sent to considered and! or reducing the days a week be discussed at the 8 6/24/2009 CRA Theresa Scutari 561-734-4309 the trolley runs next meeting 7/14/09. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\CRA Complaint.Comment Log As of 6/1/09 CRA Complaint and Comment Log A B C D E F April Majoy advised She is upset about the South Trolley Routes that she can attend the being cancelled. Mentioned that she and July 14 CRA Board others would be willing to pay a small fee to Meeting to discuss the Phone call to Katherine keep the service going. Also complimeted the decision during public 9 6/18/2009 eRA Kennedy not provided CRA, stating that the trolley is very helpful. comment. 6/19/09 Theresa Utterback sent her a letter enclosing the Shopper Hopper schedule, Palm Tran information, THE LINK information and applicaton for Palm Tran Connection. She She depends on the South Trolley Route for also advised Ms. all of her doctor appointments. So do the Zwanch to attend the people in her community. She asked if the . next Board Meeting, Trolley could be cut back to a couple of days a July 14 to publically week and/or only run at certain times. She felt discuss her concerns Phone call to Roseanne like the service was given to them and then for canceling the 10 6/19/2009 CRA Zwanch 561-901-5540 just taken away. servIce. T:\AGENDAS, CONSENT AGENDAS. MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-I4-09 Meeting\CRA Complaint.Comment Log As of 6/ 1/09 CRA Complaint and Comment Log A B C D E F April Majoy advised that he can attend the He is upset that the South Trolley Routes are July 14 CRA Board being cancelled, because he and his friends Meeting to discuss the Phone call to frequently ride the trolley. Expressed that they decision during public 11 6/19/2009 CRA "Trolley Rider" not provided would be willing to pay for the service. comment. He lives in Leisureville (North of Woolbright) 7/2/09 Theresa and loves the trolley service. He has used the Utterback sent Mr. trolley in the morning and afternoon and Ness a letter enclosing noticed that it was empty so he understands the Shopper Hopper the reason for discontinuing the service. He schedule, Palm Tran also wanted to advise that all the trolley information, THE drivers and staff were very nice and pleasant. LINK information and Phone call to He requested any additional information our applicaton for Palm 12 7/2/2009 CRA Charles Ness 561-767-1436 office would have regarding transportation. Tran Connection. 13 14 15 16 17 18 T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\CRA Complaint.Comment Log As of6/1/09 ~',-"'\:f ~qywe8'~c RA . East Side N West Side N Seaside Renaissance June 23, 2009 Mr. Jack Burrie 4461 NW 13 Avenue Deerfield Beach, FL 33064 Re: Boynton Beach Alley Abandonment Dear Mr. Burne: In response to your comment on the CRA website (copy enclosed), I am writing this letter to advise you that due to manhole access, the alleys will remain in the care, custody and control of the City of Boynton Beach. If you have any further questions regarding this matter, please do not hesitate to call our office. Sin erely, /, +.. . 0- rd>~(j- right lJ Executive Director 915 South Federal Hlahway Boynton Beach. Aorida 33435 Ph: 561.737.3256 Fax: 561.737.3258 \',I\'!V'.' '1ly"r\(-o~ .1''ie;~{'11Ci';~ ,COl'll ~-~Original Message--~- From: administration@boyntonbeachcra.com <administration@boyntonbeachcra.com> To: bbcra@bcsdst.com <bbcra@bcsdsl.com> Sent: Sat May 30 20:16:13 2009 Subject: contact form submission First name: Jack Last name: Burrie Title: Company: Address: 4461 NW13 Ave City: Deerfield Beach State: FL Zip: 33064 Telephone: 954-781-2124 Fax: Email address:jburrie@yahoo.com Question/request: Dear Boynton CRA It was really disappointing to read In the Boynton Forum, May 27, 2009 Opinions & Views, that the Boynton Beach CRA board and staff recommended to abandon and close alleys and easements in the Heart of Boynton. Please don't give In to the problems, instead take back this public property from the criminal element. For great information on rehabbing alleys ask your city planners that are members of the American Planning Assn., about the Green Alleys article In the June 2009 edition of Planning magazine or go to hnQ;llP-lann\ng,QfQlQlannlng'2009/jun/gre~nalleys. htm When you read the article, you'll see that most problem areas are small & local that can be Improved, just like in Boynton Beach. Jack Burrie Retired Transportation Planner Are you a resident of Boynton Beach? No Do you own a business in Boynton Beach? No Are you an investor or developer interested in redevelopment opportunities in Boynton Beach? No Put me on your emaillist for future news and updates: Yes An Excellent Credit Score Is 750. See Yours In Just 2 Easy_..sie-p-s1 June 17,2009 Mrs. Janine Gordon 1905 SW 17th street Boynton Beach, FL 33426 Re: Transporation Schedules Dear Mrs. Gordon: Per oUr telephone conversation of June 15, 2009, I have enclosed the following information: 1. Palm Tran Information TRANSITW ATCH - This provides the telephone numbers for the Fixed Routes and Palm Tran Connection which is a door to door service. 2. Seniors in Motion - Welcome to Palm Tran - General information for seniors. 3. Palm Tran THE LINK-Getting Started - A curb to curb service (the Brown Route would be your route from Leisureville to Bethseda). You will need to call and schedule a pickup at the Leisureville Clubhouse (this service does not pick you up at your door). There is a nominal fee for this service. 4. Palm Tran THE LINK - Brown Route Maps 4. Helpful Tips for Riding THE LINK 5. Palm Tran Connection - This is a door to door service however, you must apply for it. I have enclosed the Paratransit Eligibility Application for your convenience. You must provide proof of income with your applicaton to be eligible for the lower rate of $2.00 per trip. 915 South Federal Highway Boynton Beach, Fl 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com June 17, 2009 Mrs. Janine Gordon Page Two ALL PALM TRAN INFORMATION IS AVAILABLE ON LINE AT: www.pbcaov.com/palmtran 6. Shopper Hopper schedule 7. eRA North Trolley Route (which is still in service) I hope the enclosed information is helpful. If you have any further questions, please feel free to call me. Theresa Utterback Administrative Services Manager Ext.216 915 South Federal Highway Boynton Beach, Fl33435 Office: 561-737~3256 Fox: 561-737-3258 www.boyntonbeachcra.com ,t' June 19, 2009 Roseann Zwanch 2309 South Federal Highway #14 Boynton Beach, FL 33426 Re: Transporation Schedules Dear Ms. Zwanch: It was a pleasure speaking with you. As we discussed, the CRA office keeps a Comment/Complaint Log, in which I have placed your concerns and suggestions regarding the cancellation of the South Trolley Routes (Green and Red). You may also voice your concerns at our next CRA Board Meeting, July 14, 2009 @ 6:30 pm. Our CRA Board Meetings are open to the public and held the second Tuesday of every month at City Hall, 100 East Boynton Beach Blvd., Boynton Beach, FL. For your conveience, I have enclosed the following information as alternative transporation: 1. Palm Tran Information TRANSITW A TCH - This provides the telephone numbers for the Fixed Routes and Palm Tran Connection which is a door to door service. 2. Seniors in Motion - Welcome to Palm Tran - General information for seniors. 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com June 19,2009 Ms. Zwanch Page Two 3. Palm Tran THE LINK-Getting Started - A curb to curb service. You will need to call in order to determine which LINK routes will work for you. This service will also pick you up however, you need to call in advance and there are restrictions. There is a nominal fee for this service. 4. Helpful Tips for Riding THE LINK 5. Palm Tran Connection - This is a door to door service however, you must apply for it. I have enclosed the Paratransit Eligibility Application for your convenience. You must provide proof of income with your applicaton to be eligible for the lower rate of $2.00 per trip. ALL PALM TRAN INFORMATION IS AVAILABLE ON LINE AT: www.obcaov.com/oalmtran 6. Shopper Hopper schedule 7. CRA North Trolley Route (which is still in service) I hope the enclosed information is helpful. Please do not hesitate to call me if you have any further questions. Theresa Utterback Administrative Services Manager Ext. 216 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com ~ r--- - ----:::-" 1 .." '. .,.'~,,, ~~';;~~...::~,~~' , : k '.~-.... ;} ~ :.~.,\" , " I, :.. . ; , ~ '" \~." ,,' <' , . ',~, :\~~, .~. , '. ...~~, ~>1" ,....'1"".,.~.., !.'"'~_' . ) I .. , ~ ~)'EST f""~N,,~:",::H .:~~::--:~;?I , . J ~ . f;!..... ~.~/...J!"r:;- ,.J,.L _~,~_.~. H:..:1' . ~""'l.u:,......"I."" - .....)~t.~ . p./: L..' .'1. ...~.. "h:','l " VI ~ if,; , ~I ''-2,'3'3' ''R'T.' "0 "~ "'".,1 , Gte .' 15 .\"~/ , 7IJ \ 1..111' II lul.. f1" 1.I.d.1 n 111111111,.1.1,,, 1I.I,hnl,1l 33435+56. i:2 ~1~~Y~Te~ C iiI East Side-West Side-Seaside Renaissance June 30,2009 Theresa Scutari 2030 SW 24th Circle Boynton Beach, FL 33426 Re: Transporation Schedules Dear Ms. Scutari: I am in receipt of your letter dated June 22, 2009. I have placed your concerns and suggestions regarding the cancellation of the South Trolley Routes (Green and Red) in the CRA's Complaint/Comment Log which is given to the Board Members at our monthly meeting. You may also voice your concerns at our next CRA Board Meeting, July 14, 2009 @ 6:30 pm. Our CRA Board Meetings are open to the public and held the second Tuesday of every month at City Hall, 100 East Boynton Beach Blvd., Boynton Beach, FL. The CRA and the trolley service is conducting a cost analysis for implementing a fee for the trolley service. This will also be discussed at our next meeting. In the meantime, I have enclosed the following information as alternative transporation: 1. Palm Tran Information TRANSITW A TCH - This provides the telephone numbers for the Fixed Routes and Palm Tran Connection which is a door to door service. 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com June 30,2009 Ms. Scutari Page Two 2. Seniors in Motion - Welcome to Palm Tran - General information for seniors. 3. Palm Tran THE LINK-Getting Started - A curb to curb service. You will need to call in order to determine which LINK routes will work for you. This service will also pick you up however, you need to call in advance and there are restrictions. There is a nominal fee for this service. 4. Helpful Tips for Riding THE LINK 5. Palm Tran Connection - This is a door to door service however, you must apply for it. I have enclosed the Paratransit Eligibility Application for your convenience. You must provide proof of income with your applicaton to be eligible for the lower rate of $2.00 per trip. ALL PALM TRAN INFORMATION IS AVAILABLE ON LINE AT: www.pbcaov.com/palmtran 6. Shopper Hopper schedule 7. CRA North Trolley Route (which is still in service) I hope the enclosed information is helpful. Please do not hesitate to call me if you have any further questions. Teresa Utterback Administrative Services Manager Ext. 216 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com ~~~~Y~T8~ C . East Side-West Side-Seaside Renaissance July 2, 2009 Mr. Charles Ness 1902 SW 13 Way Boynton Beach, FL 33426 Re: Transporation Schedules Dear Mr. Ness: It was a pleasure speaking with you today. I appreciate your comments regarding the trolley service. I have placed your remarks in the CRA's Complaint/Comment Log which will be given to the Board Members at our next monthly meeting - July 14,2009. From our discussion, you too have notice that there is minimal ridership of the South Route. I have also noted that you "loved" the service and all trolley staff was extremely nice and polite. Per our conversation, I have enclosed the following information as alternative transporation: 1. Palm Tran Information TRANSITW A TCH - This provides the telephone numbers for the Fixed Routes and Palm Tran Connection which is a door to door service. 2. Seniors in Motion - Welcome to Palm Tran - General information for seniors. 3. Palm Tran THE LINK-Getting Started - A curb to curb service. You will need to call in order to determine which LINK routes will work for you. This service will also pick you up however, you need to call in advance and there are restrictions. There is a nominal fee for this service. 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com July 2, 2009 Mr. Ness Page Two 4. Helpful Tips for Riding THE LINK 5. Palm Tran Connection - This is a door to door service however, you must apply for it. I have enclosed the Paratransit Eligibility Application for your convenience. You must provide proof of income with your applicaton to be eligible for the lower rate of $2.00 per trip. ALL PALM TRAN INFORMATION IS AVAILABLE ON LINE AT: www.pbcqov.com/palmtran 6. Shopper Hopper schedule 7. CRA North Trolley Route (which is still in service) I hope the enclosed information is helpful. Please do not hesitate to call me if you have any further questions. Theresa Utterback Administrative Services Manager Ext. 216 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com Palm Tran Infonnation J Palm Tran Directory 0 Special A nnllUllcemenls 0 Notices 0 Palm Tran Information 0 Ridership Informntion 0 Maps & Schedules 0 WI'Il Intcnlloual Cenkr 0 Palm Tran LINK 0 Roule Changes 0 CONNECTION 0 Fme Informntion 0 Joh Openings 0 Ilolidny Schedule 0 I'nlm Tmn DIlE PrognHll 0 Palm Tran Fast Fuets /' 0 Upcoming Ewnts 0 I )istrihnt ion Points 0 Transit Wnldl 0 Library (- Page 1 of 1 Palm Tran Information Exceuti\'l: J>ireclor Palm Tran: ChJ!l:LCohc!L ~ Asst, Eucutin: Director I'alm Tron: J<QImi!l~ ~\"I1I~ Director l'lllm Tran CONNECTION: ROll Joncs~ See how you can do your part in Hmud3.11iLSrmril):. Managel' 1\ larkeling, Palm 'fran: LiliJJnkc@ E-mail Disclaimer Under Florida law, e-mail addresses are public records. If you do not want your c-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing. f ~ We are located at: 3201 Electronics Way West Palm Beach, FL 33407 Telephone: 561-841-4200 Fax: 561-841-4291 Click l-tm1.tlf I!-htlln to our Main PJIj!:~ Senl! rnwilto Palm Tran H,ert' ~ Fhed Ronte Infurmntion Line: (561) 841-4BUS (4287) (877) 930-4BUS (4287) I'nllltJ\I!!l CO:'\JliECTIO:'\:. (561) 649~9838 (877) 870-9849 o Road Rules... tJ o Hikes 011 Buses Program '[J o Bic)'c1c, Pedestrian & Motorist Surety Tips t;l o Titl\.' VI Civil Rights Assumnce 'EJ Acrobat Reader Many pages use the Adobe PDF format. Use the "Get Acrobat"icon to install the free Acrobat Render. GI1Acrobathl Acrobat and the Acrobat Logo are Trademarks of Adobe Systems Inc. Last updated: 04/15/2009 () CopyrIght 2009 Palm Beach County, FL. http://www.pbcgov.com/palmtranlinfonnation/ 6/17/2009 Seniors Marketing Directory o Seniors in Motion o Transit Works Production o Upcoming Events o Bus Aelvertisinl( o On Route Newsletter o Press Releases o Media Inquiries Palm Tran Directory o Special Announcements o Notices o Palm Tran Information o Ridership III formation o Maps & Schedules o WPH Inlennodal Ccnter o Palm Tran LINK o Roule Changes \) CONNECTION o Fare Information o Job Openings o Holiday Scheelu Ie o Palm Tran DRE Program o Palm Tran Fast Facts o Upcoming Events o Distribution Points o Transit Watch o Library Page 1 01'2 Seniors in Motion Welcome to Palm Tnlll Seniors In 1\lolioll 2007 Palm Tran's "SenIors In Motion" program is designed to assist you in experiencing the benefits public transportation can bring to life. Riding Palm Tran Makes Cents v Seniors, aged 65 and older, ride Palm Tran buses at a reduced fare - each and every day.. () Paying by cash? Only 75 cents. There are no transfers. Iftransferring between Palm Tran buses, you must p~ an additional futl fare. () Want an aU-day pass? Only $2.251 Purchase the pass when boarding, at Palm Tran or at any pass outlet to ride the bus all day long in any direction. o Need a 3 I -day pass? Only $40 Must be pre-purchased either at Palm Tran, any pass outlet, or by mail. Using Palm Tron is Easy & Convenient () There are mote than 3,400 bus stops located across the courtty. o Most bus routes have service at least once ail hOur. Some routes have more frequent service. o Large print, -easy-to-read system, and route maps are available. v Trip planning is available by phone. Just infonn our Customer Service Route Specialists where you are and where you want to go. They will help you get there! Your Safety is Our #1 Priority o Palm Trail has won the State ofFJorida's Public Transportation Safety Award 9 (nine) years in a row. o Most buses are equipped with security cameras and other monitoring devices for your protection. o Each bus is capable of "kneeling". The front door panel of the bus lowers, making boarding less of a problem. () All Palm Tran buses offer front door wheelchair ramps that are sidewalk and roadside accessible,& All Palm Tran buses are clean and comfortable. Call Now for Fun & Adventure For those seniors who may need a little assistance in riding for the first time, Palm Tran offers Travel Training fQr groups, which helps you catch your neighborhood bus and opens the door to freedom. http;//www.pbcgov.comlpalmtranlrnarketing/seniors.htm 6/1812009 Seniors Page 2 of2 Route Information is available seven days a week! (561) 84I..4BUS (4287) or (Toll Free) 1~877-930-4287 Passengel's asking for R "edu~ed fare 01' using R reduced fare QUIK PASS must pl'esent one of the followIng when boarding the bus: a Senior -any person 6S years or older witb an lD issued by Palm Tnm, a valid driver's license or Florida State ID card. a Student - any person 21 years or younger with an ID issued from a school. a Pisabled - any person who bas received a reduced-fare ID card iS$ued by Palm Tran or Palm Trail CONNECTION, based on documented disabilities. o Medicare - any recipient can show their Medicare Card. last updated: 09128/2007 @ Copyright 2009 Palm Beach County, Fl . http://www.pbcgov.comlpalmtranlmarketinglseniors.htm 6/18/2009 GEYTINGS"AR'ID: communities, shopping cen~ ters and medical facilities. The LINK will also connect to Palm Tran's existing routes as well as routes that serve Tri-Rail. The vehicles are 25' ~27' in length and are ADA accessible. Besides offering designated stops along the route, passengers may "flog down" the LINK along its route. Welcome to Palm Tran's new route deviation service, the LINK. The LINK's prirnary purpos~ is to provide service where fixed route service is not available. Passengers can Cllsocall three doys in ad- vance to schedule a pick up or Can inform the driver upon boarding to deviate from the scheduled route. The LINK will deviate (service in areas that are not part of the LINK regularly scheduled route) up to 3/4 of a mile from its scheduled route. The LINK is designed 'to specifically target restricted areas such as gated The LINK offers seven routes throughout Palm Beach County and operates four days a week, Monday thru Thursday. Routes operate one to two days a week. This handy guide contains the route map & schedules for each LINK. Please refer to the table of contents for specific route information. The LINK is a pilot program and is fully funded through the Florida Deportment of Transportation for its first year of operation. Therefore, for the program to continue, your input and suggestions ore en~ couraged. Please feel free to write, call or el11ail us your suggestions. Helpful Tips for Riding the LINK Hours and Days of Operation The LINK operates four days (j week Monday thru Thursday on seven routes. Please note that the schedule may vary due to deviations along the route. The service is designed to work with Palm Tran's existing routes os well os routes that serve Tri-Rail. This is not a door-fo-door service. The LINK servi(:e doe$ not operate on the following holidays: New Yeor's Day, Easter Sunday, Mem()rial Day, Independence Day, labor Day, Thanksgiving Day, Christmas Day How much does it cost? The fare to ride the LINK is .50 cents for each one.way trip. No transit passes accepted. Exact change only. forebox and driver do not make change. Passengers must pay appropriate fares when connecting to Palm Tran or Tri-Roil. To request a deviation (service in areas that are not part of the LINK regularly scheduled route) The LINK will run occording to its schedule. If you need a pick up from any other location the LINK will deviate up to 3/4 mile from its scheduled route. To schedule a deviation call (561) 649-9838 or toU..free (877) 870-9849. When scheduling your pick up please provide your name, phone number, locotion of pick up and destination between 7:00 a.m. fa 5:00 p.m., seven days 0 week. Trips con be scheduled up to three days in advance. Same day deviations con be arranged with the driver that day. LINK Stops The LINK will pick up of designated locations olong the rQute. Flag down service is also available. If you happen to be between stops, flag down the LINK van and the driver will stop to pick you up. For safety reasons stopping between stops is at the discretion of the driver. Stops will be made only at sofe locations. Passengers with Disabilities All LINK vehicles ore equipped with lifts and ore ADA accessible. Baggage and Lost Items Weapons ore not ollowedon any public transit vehicle except when in the posses- sion 0' 0 low enforcementoHicer. limit corry on items to no more thon three grocery bogs. Please do not block the seats or aisles. LINK personnel ore not required to provide baggage assistance, Palm Tron is not responsible for any lost or stolen items, please take 011 of your belongings with you when you get to your stop. If you need to report a lost or stolen item please call (561) 649-9838 or toll-free (877) 870-9849. ~--- ~ CON-^,EC~1oN /.n~;p......4....n",,'Mnu~A ,mo.l'>///{~: Paratransit Eligibility Application 561-649-9838 option 4 1-877 -870-9849 toll-free outside local calling area 561-649-0685 FAX 561 ~649.0683 TOO INSTRUCTIONS FOR COMPLETING THIS APPLICATION: Please complete the appropriate Part(s) of this application depending upon which programs you are eligible for. If you do not complete the appropriatePart(s), we will not consider your eligibility for that program. If you complete two or more Part(s), we will consider your eligibility for multiple programs. Regardless of program preference, Part 1 & 2 must be completed In Its entirety. Part 1 :General Rider Information Part 2:Applicant Signature Page Part 3:Verification of Income Transportation Disadvantaged Program Part 4:Verification of Age Division of Senior Services Program Part 5:Verification of Disability Americans with Disabilities Program Per the Americans with Disabilities Act (ADA), complementary Paratransit is not intended to be a comprehensive system of transportation for individuals with disabilities. The completed application will be reviewed within 21 days after it is received by Palm Tran CONNECTION to determine the applicant's eligibility for service. If a decision is not made within 21 days of receiving a completed application, the applicant shall be treated as eligible and shall be provided service unless PTC denies the application. Applicants who are denied eligibility have the right to appeal that decision. Please contact the eligibility department if you have further questions. The information in this application will be used by Palm Tran CONNECTION for the provision of transportation services. Information will be available to other transit providers as necessary for appropriate transportation services only. The information will not be provided to any other person or agency. This document Is available In an alternative format upon request. Revised August 30, 2007 :; :; J Part 1 General Rider Information Please Print Last Name: First Name: MI:_ Street Address: Apt#: Bldg#: Building/Complex or Development Name: (or closest cross street/major intersection) City: State: Zip: Telephone: Date of Birth: / Address Contact Phone Number A. Please Indicate below If you use any of the following mobility aids or equipment (check all that apply) OCone OWalker o Crutches o Leg Braces o Oxygen OService Animal OManual Wheelchair o Powered Wheelchair o Powered Scooter/Cart OSighted (person) Guide OOther (please specify) 01 donlt use any of the above mobility aids or equipment OWhlte Cane (blind) OPortable Medical Equipment (oxygen tank, etc.) Note: We may not be able to accommodate YOII ifyollr wheelchairlscooter is longer than 48 Inches or wider than 30 Inches or if your total weight when occupying your wheelchair exceeds 600 pounds. B. Do you require the assistance of a Personal Care Attendant (PCA) (someone who must travel with you to assist you with daRy life functions)? Please note that we may require you to travel with a peA if your condition or disability is severe. o Yes ONo C. Do you need to have InformaHon given to you In an alternative format? If yes, please Indicate: o Large print OAudlo CD/Tape o Brallle OOther: 2 Part 2 Applicant Certification - Signature I verify that all statements are true and correct to the best of my knowledge. I understand that supplying fa.lse information can disqualify my application and/or subsequent registration. I authorize Palm Tran CONNECTION (PTC) to obtain verification of any information given in this application and to obtain essential medical information necessary for determination of paratransit eligibility. Applicant's Signature: Date: If someone assisted you in completing this form, please provide contact information: Name: Phone: In Case of an Evacuation: In the event of a mandatory evacuation order issued by Palm Beach County Emergency Management due to a Hurricane or Flood, would you need transportation to a shelter? OYes ONo To register for the Special Care Unit, please contact the Palm Beach County Emergency Operations Center at (561) 712-6400. Part 3 Appllcaflon Certlflcaflon - Verification of Income A. To apply for the Transportation Disadvantaged .. (to) Program, please complete the following: Total monthly Income $ Please attach Droot of your total income, before tax, including wages, tips, any Social Security income, Pension and other. Acceptable forms of proof Include: . First Page of Last Year's Tax Return . Social Security Income Verification . Aid to Families with Dependent ChDdren(AFDC)lTemporary Assistance for Needy Families (T AN F) / Food Stamps Benefit Award Letter (s) . Pension statement / Retirement Income Verlflcation . Unemployment Income Verification (Your application for the fare subsidy Is Incomplete If you do not provide proper documentation) To qualify for TD service, your Income must be at or below the Federal Poverty Income Guidelines, provide proof of income and have your physician complete the medical verlflcatlon form on page 8. Do you have a physical or mental impairment that substantially HmIts one or more of the major life actlvltles?* 0 Yes 0 No If yes, Please specify the nature of the Impairment: o Physical disabUity 0 MentallHness o Developmental disablHty 0 Other .Quesflon Is required, but not used In determining your eligibility o Visual impairment/bUndness 3 Part 4 Applicant Certification-Verification of Age To apply for Division of Senior Service Programs, please complete the following: A. Please provide proof of age. Documents accepted Include: ODnver's license o Birth Certificate o Passport o Florida Identification Card B. Do you have a physical or mental Impairment that substantially limits one or more of the major Iffe actlvltles?* aYes oNo If yes, please specify the nature of the Impairment: o Physical disability OMental Illness oOther o Visual impairment/blindness 0 Developmental disability Part 5 Applicant Certlflcatlon - Verification of Disability A. To apply for the American's With Disabilities Act Program, please complete the following: Please Indicate below the reasons why you are seeking Door to Door eligibility (check all that apply) To qualify for Palm Tran CONNECTION a person must be UNABLE to use Palm Tran fixed-route buses due to a physical or mental impairment related condition OBecause of my disability, I can never use the Palm Tran fixed-route bus service o I can use Palm Tran fixed-route buses sometimes, but only if they are equipped with wheelchair lifts 01 can use Palm Tran fixed-routes buses to go some places, but in other places I cannot get to or from the bus stops B. What type(s) of disabilities prevent you from using Palm Tran buses? (check all that apply): o Physical Disability ODevelopmental Disability OOther o Visual impairment IBlindness o None o Mental Illness Please describe your disability in more detail: 4 Part 5 (continued) Applicant Certification - Verification of Disability C. Is the disability described above temporary or permanent? OTemporary, 1 expect it to last for another o Permanent 01 don't know months D. Have you ever used Palm Tran fixed-route bus service? OYes, I use the following bus routes ONo E. When are you UNABLE to use the Palm fran flxed-route bus? (Please Indicate below - check aU that apply to you) o I can use Palm Tran regular bus service for some trips, but other times there are barriers that prevent me from using the bus. o I have difficulty understanding, become disoriented easily and/or remembering all of the things I would have to do to use the bus. o I can only get to and from bus stops if the distance is not too great and there are curb cuts and sidewalks on the route. 01 can only wait at Palm Tran bus stops if there is a bench or shelter and/or I cannot cross busy streets and intersections. OThe severity of my disability can change from day to day. I can ride the bus only when I am feeling good. 01 have difficulty or cannot climb stairs and can only board a Palm Tran bus if is has a lift or ramp. o I have a health condition and cannot ride the bus if the walk is too far or if the weather is too hot. 5 Part 5 (continued) Applicant Certification - Verification of Disability F. Would any of the following help you to use the fixed-route buses? o Route and schedule information o Bus stops closer to your home o A communication aid o Bus stops closer to where I live and where I need to go o None of these would help OTravel Training (how to ride the bus) G. Can you ask for and follow written or verbal Instructions to use Palm Tran fixed-route buses? OYes ONo OSometimes If you choose either NO or Sometimes, please check all that apply o I get confused and might get lost 0 I probably could with instruction o Other people cannot understand me 0 Other: H. Without the help of someone else, are you ABLE to do the following? (check all that apply) o Wall< up and down three steps if there are handrails on both sides o Use a telephone to get information o Ask for and follow written or oral instructions OCross the street if there are curb cuts o Get on and off a Palm Tran bus if it has a wheelchair lift o Wait 30 minutes at a bus stop that does not have a bench or shelter o Easily hear the bus drivers' voice when they announce bus routes while you are standing outside or inside the bus OStep on and off a sidewalk that does not have a curb cut o Cross streets and intersections o Hear traffic well enough to safely cross streets OSee well enough to wall< to a bus stop if someone shows you the way once 6 Part 5 (continued) Applicant Certification - Verification of Disability I. Using a mobll1ty aid (wheelchair, etc.) or on your own, how far can you walk or travel? OCannot walk outside my house/apartment o I can get to the curb in front of my house/apartment o I can walk or use wheelchair up to 3 blocks o I can walk or use wheelchair up to 6 blocks o I can walk or use wheelchair up to 9 blocks J. Can you WAIT up to 30 minutes for the Palm Tran fixed-route bus at a bus stop? OYes oYes, only if the stop has a bench and shelter OYes, but I do not like to wait that long ONo, explain: 7 (, "',:, z., R "::''',' q, ''''.'''"'''' 'DIEtL \tIDnrtffiitA}uim < ~;~E:IDR.ttVl . . .". ",',' '~,::'~ OX ."~,...'" '., '''.. """"",,,;M$. . . ,... ".,~."..~[ ""," ''',,' ,'c' ,~.< ''"'~'" ,,!,' ", ".," ., " ','I Dear Health Care ProfessIonal: You are being asked by the applicant to provide information regarding his/her ability to use Palm Tran fixed-route bus service. Federal Law requires that Palm Tran provide Paratransit service to persons who cannot use fixed-route transit services due to a disability. The information you provide will allow us to evaluate this request and its application to specific trip requests. Your verification should consider only the presence of a disabling condition, not the applicant's age or economic status. Please exercise care in evaluating applicants for this program. All Palm Tran fixed-route buses are accessIble to wheelchairs and other mobmty aids. To qualify for Palm Tran CONNECTION door to door service, a person must be unable to use Palm Tran fixed-route bus service due to a physical (including visual) or mental impairment related condition. Individuals may qualify If: o As a result of their disability, they are unable to board, ride, or disembark from a Iiff- equipped transit vehicle without the assistance of another person (excluding the operator of a wheelchair lift or other boarding assistance device) and/or they have a specific impairment-related condition which prevents them from learning to navigate the transit system. (Please list conditions and how these conditions prevent the applicant from using P.alm Tran fixed-route bus servIce) o The individual has a disability that may limit their ability to use the Palm Tran fixed-route bus service on an ongoing basis. Their condition changes from day to day and they may sometimes be able to use the bus. (Please list conditions and how they prevent the appllcard from using the bus on an ongoing basIs) SlgnatlJre: Print Name and Title: state of FlorIda License': Business Address: City, State, ZIp: Date: Telephone': e CONNEC1foN 1,""",,_..~AmtWIi(t: ~almb!! 8 C'{}NNEC10ftl "'~~r"'-'''''(''''6'''''.'''';'''';:'''<' ',-" 3044 South Military Trail Suite D '""'" w. '''OJ Palm Btach COllnty Board orCounty Commissioners Addie L. Greene, Cbairperson Jeff Koons, Vice Chairman Karen Marcus Bob Kanjian Mary McCarty Burt Aarpnson Jess R Santamaria County Administrator Robert Weisman ~lmJmrl The City of Boynton Beach Recreation" Parks Department's Transportation Division . ~"., . ,-~ ., , - Shopper Hopper Schedule Senere"oformatlon Effective October 1. 2007 For Information regarding routes and schedules, contact Transportation Services, Monday - Friday, between 8 a.m. and 4 p.m. at 742-6590. Transportation Services operate six days a week, . Monday - Saturday. There Is no setvlce on Sundays or on the following holidays: New Year's Day, Martin Luther King Jr. Day, President's Day, Memorial Day, Independence Day, Labor Day, Veteran's Day, Than~lvlng Day and the day after Thanksgiving, Christmas Eve and Christmas Day. . Base fare Is $1.00. each direction and for seniors 62 and over the fare will be % of the base fare. NO TIPPING ALLOWED AND THE DRIVER CANNOT LEA VE THE BUS UNA TTENDED. Schedule Mondav Route 1 Destination Library/Oceanfront Park - City Residents can call for pick up times Route 2 Destination K-Marl Plaza (2 hours shopping) CHERRY HILL SECTION 9:00 a.m. ROLLING GREEN SECTION NORTHEAST BOYNTON 9:10 a.m. SOUTHEAST BOYNTON HIGHPOINT 9:20 a.m. COLONIAL CLUB HAMPSHIRE GARDENS 9:35 a.m. SEAGATE SNUG HARBOR 9:45 a.m. STERLING VILLAGE ROYAL MANOR 10:45 a.m. NORTHWEST BOYNTON Tueadav RouffJ 3 Destination Publix (1 hour shopping) LEISUREVILLE SECTION 1 9:00 a.m. LEISUREVILLE SECTION 2 9:30 a.m. LEISUREVILLE SECTION 3 9:30 a.m. Wednesdav ROlltfJ! Destination Publix (1 hour shopping) COLONIAL CLUB 9:00 a.m. HAMPSHIRE GARDENS 9:00 a.m. SEAGA TE 9:05 a.m. SNUG HARBOR 9:10 a.m. SOUTHEAST BOYNTON 9:15 a.m. HIGHPOINT 9:30 a.m. STERLtNG VILLAGE 10:00 a.m. 9:05 a.m. 9:15 a.m. 9:30 8.tn. 9:40 a.m. 9:508.m. 11 :00 s.m. Route 4 Destination Publix (1 hour shopping) SOUTHWEST BOYNTON 12:00 p.m. VENETIAN TERR APTS. 12:15 p.m. BOYNTON LEISUREVILLE 12:30 p.m. Route 6 Destination PlJblix (1 hour shopping) CHERRY HtLL SECTION 12:00 p.m. ROLLING GREEN SECTION 12:10 p.m. NORTHEAST BOYNTON 12:15 p.m. ROYAL MANOR 12:30 p.m. NORTHWEST BOYNTON 12:45 p.m. Rout. 7 Destination Sunshine SquarelK..Mart Plazas (2 hours shopping) LEISUREVILLESECTIONS 1,2,3 12:00 p.m. SOUTHWEST BOYNTON 12:15 p.m. VENETIAN TERRACE 12:20 p.m. BOYNTON LEISUREVILLE 12:30 p.m. . Citv of Bovnton BeachShoD"er HODDer Schedule Continued T~.~ Ro~ 8 Destinalion Pub/ix (1 hour shopping) NORTHEAST BOYNTON 8:45 a.m. BOYNTON BAY 9:00 a.m. PINE POINT 9:35 a.m. VILL. ROYALE ON THE GREEN 9:45 a.m. VILLAGE ROYALE 9:50 a.m. Route 9 Destination Waf-Marl (2 & 3 p.m. return) LEISUREVILLE SECTION 1 LEISUREVILLE SECTION 2 LEISUREVILLE SECTION 3 VENETIAN TERR. APTS. BOYNTON LEISUREVILLE 12:00 p.m. 12:00 p.m. 12:00 p.m. 12:15 p.m. 12:20 p.m. Frldav Route 10 Destination Mal/ffarget/Wa/-Marf/Shoppes of Boynton {12:15, 1:15 & 2:00 p.m. return} CHERRY HILUROLUNG GREEN 9:15 a.m. HIGHPOINT 9:35 a.m. SOUTH 130YNTON 9:55 a.m. ROYAL MANOR 10:30 a.m. NORTHWEST BOYNTON 10:45 a.m. Route 11 Destination Ma/JlTarget/WaJ-MarllShoppt3s of Boynton {12:15 & 1:15 p.m. return} SOUTHEAST BOYNTON 9:35 a.m. COLONIAL CLUB 9:45 a.m. HAMPSHIRE GARDENS 9:45 a.m. SEAGATE 9:45 a.m. STERLING VILLAGE 9:55 a.m. satur.v Route 12 Destination MallffargetIWa/-MartlShoppes of Boynton {12:00 & 1:00 p.rn. return} PINEPOINT 9:20 a.m. VILLAGE ROYAL ON THE GREEN 9:30 a.m. VILLAGE ROY AL 9:35 a.m. BOYNTON BAY 9:45 a.m. Route 13 Destination: Mall-Target~Shoppes of Boynton {2:30 p.m. return} LEISUREVILLE SECTION 1 11 :00 a.m. LEISUREVILLE SECTION 2 11 :00 a.m. LEISUREVILLE SECTION 3 11 :00 a.m. VENETIAN TERRACE 11:15 a.m. BOYNTON LEISUREVILLE 11:15 a.m. A City Of Boynton Beach Recreation & Parks Department Transportation Division Program . II. ". W.Make . . ,,# We fun!! Iloylll/lfta-h It<<rfollonond Pot'" C..Mm..1 r (' r CIty ot Boynton Beach - ~llopper Hopper Page 1 ot 1 I QuIck links .__'~._=.~_.~~-_.-_~-_ _ _~ ~~J Search I Business Community Government Online Services Departments City Contacts WELCONE .Shopper Hopper" blls The Transportation Division Is In Its 11th year of operation. The Division presently transports hundreds of Boynton Beach residents to and from grocery stores, the Boynton Beach Mall, Target and Wal-Mart stores. Generallnformatfon Effective October 1, 2007 Transportation Services operate six days a week, Monday. Saturday. There Is no service on Sundays or on the following holidays: New Year's Day, Martin Luther King Jr. Day, President's Day, Memorlal Day, Independence Day, LCibor Day, Veteran's Day, thanksgiving Day and the day after Thanksgiving, Christmas Eve and Christmas Day. FARE: Base fare Is $1.00 each direction and for seniors 62 and over the fare will be half of the base fare. NO TIPPING ALLOWED AND THE DRIVER CANNOT LEAVE THE BUS UNAlTENDED. SCHEDULE: download Sl1oPQ.~l:I.opP..~Sc;he9ule (59 kb PDF) For further information regarding routes and schedules, contact Transportation Services, Monday. Friday, between 8 a.m. and 4 p.m. at 742.6590. Business Community Government Onllne Setvlces Departments Cfty Contacts Copyr1aht @ 2006, City of Boynton Beach Terms It Conditions WebGen 3.12 Powered by ~ze from Re.vlze.LL http://www.boynton-beach.org/governmentJdepartments/tl'ansportation1shoppel'-.hopper/in... 6/16/2009 J , ~ '/ I , , r J ~ ~ GateWaY Blvd ~- . cenw. 1 .. n iil fI) (R , 4?t J .~'~l V' CaaIIIJ.paI -', .~~~ ...- - - t North Route (\\'7@]~w MOU@~ I RIDmtftn ,.- l ~. .. tiBI Old Boynton Rd .. ~ ~, .,...".~ . __ _ :fI BOYNTON BQCH CAA TROLLEY ... W' FREE "North" ROUTE Monday-Friday 7:15am-6:30pm Sat - 9:30am-5:45pm Route &Hours Effedive August 2008 I zl en G> II) () ... CD '" .... m <' 0- ~RoyaIe on the Green NE 15th Ave .. 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Q) en o .... -r- E g o '? U N >.('1) Q) '9 oc- - CO o It) I- -(ij ...c:u U o ~ Q) ;:] ..0.... C ~ o & 1: E >-.~ o _ ..0 c ~~ Q) E F .~ :.Q .g >- ~ e I- Revised 8/07/08 Thursday One-hour service Route operates 7:00 a.m. to 4:00 p.m. East Boynton Beach to Caridad Center via Woolbright Rd. " It: o .., I'; Brown UNK connects : : to Palm 1ran Routes II 1,2,3,70,73 Route 2 stops at the Boca, Delray & WPB I 1ri-Rail Stations r L Route 70 stops at the Boynton & Delray 1ri-Rail Stations BROWN UNK ~ ,,,. I Palm Tran Faxed Route CIJ == :E c WooIb' ht Rd ~ ( ~ '" d~~n ~\aJrl .~ r+:,r. "i---' '-' rD ~~ LJ g ~...--\ ~~rtc1 ~..;, ~~~ "Bt ~ ~ -'-0- ~ . it In: das Toke ~ ~ ~ ~ , ffi ~ ~ · ~Il ~\1 ~~ 11 I . 1(c5 ci tJ ===1 ' " ~ ,~ l '0. n~!: r U~O 12>0 . ~ ~ ~-~ ! lu n -~g R~nch ". ~ f:>~'4,.J t; ~ '\ 1 rr I rl n kb.Lcj) r 00 (( ~. n Q It~~ T ~"":J ~ \ ~ ~ ' .,.; ~:I. 11\,....G 4f& ~ ~ I~ ~ "'. ~ t ~1c~-1r~ )1 d I~ hf1 > -..,. r ~ ~~ i 17 ~ "'\ ,,' :". ""7.*. _ ~ lQ3 ~'I C3. 3 . - n I ~,' i ?~ . 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' . _~.:J ~.1.. ~ ~ 6'~r ~T~ '~ , -.,." ~ ~ ijlMllll s;l- \__~(\() (0 "; "l I I l!,( -,== -i ~ ~,~ ~ (0 't .,11111 ~ IIW~ N S- ~,,~ Iffinl High Rldge-fj<<t- ~ H ~~ I UN _J~ I' L.. "-ilJ II . ." I:J' - " I !. i; .' ~ a. ~ gt CH : 0. 1I:,ii\,ii G I; , ~ RO g..~ ~ ~ f". I. . ~ _" a I:J' .... I~,~ UI I. ',- .! C :: _ 0 ~ f.);:.' :~1I1 il I ,i i" ~ :s J -!.'" S ". ~.. BI"trr " . ..I. ~ ',,., .. 'C. _ W Ie 1 a. v'" ! : ': :~ 'r'Q!w~(1I1II ~ n Ill, J I '. ~'~"""," _ ~~o '~"" i;_""': - " '~:~~ ' , ~: ....:~ '. ,~ " ro ' "7;(/~ ,." ( ( " ~1~~Y~T8~CRA II East Side-West S"rde-Seaside Renaissance eRA BOARD MEETING OF: July 14, 2009 I I Consent Agenda I Old Business I I New Business I I Public Hearing I X I Other SUBJECT: Boynton Beach CRA Press Releases SUMMARY: Included are copies of press releases recently distributed to local media pitching CRA activities/events, projects and programs. This collateral works to pique the media's interest and provide ideas for stories that will appeal to readers and meet the approval of the reporter's editors. Release: *CRA Budget Cutbacks Impact Trolley Riders (6/11) *Boynton Beach's Salute To Independence (6/15) *Just Wings and Things (6/22) Articles Published as a result of last month's Press Release: *Rufus Ribs (Sun Sentinel May 15) * Artovox (Sun Sentinel May 27) *Scully's Restaurant (Sun Sentinel June 3) FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan RECOMMENDATIONS: None ~iM.~&~ ~ee s Marketing and Communications Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Press release distribution June.doc .~~i~.~ '~~<tY~2~lc RA . East Side"'West S.de...Seas',de Renaissance Media contact: Margee Walsh CRA Marketing and Communications Director (561) 737-3256, ext. 204 walshm@bbfl.us FOR IMMEDIATE RELEASE June 11, 2009 Budget Cutbacks To Impact Trolley Riders In Southern Portion Of Boynton Beach CRA's District Northern Route Continues Service Throughout Summer Months Boynton Beach, FL - The Boynton Beach Community Redevelopment Agency's (CRA) board voted Tuesday, June 9, to eliminate the two southern trolley routes, effective July 3, 2009. Their decision was based on a preliminary estimate of a $2 million revenue shortfall next year. The Northern trolley route, or Yellow Line, will remain in operation, while CRA staff evaluates its cost-effectiveness. Factors that influenced the board's vote to cancel the southern routes were the annual operational cost of $235,800, a similar funding issue currently facing Tri-Rail officials, and lack of riders. Mayor and CRA Chair Jerry Taylor lead discussions on the trolley agenda item at Tuesday night's meeting, noting, "When we launched the new southern routes back in 2008, it was understood this program would be temporary, based on its performance over a 19 month trial period. Projected growth of ridership has not occurred, so it makes sense to cut back now and save as many public dollars as possible." The CRA will end its contract for the southern routes with trolley operator Molly Stahlman, of Molly's Trolleys, in July, 2009, versus September, saving the agency an additional $40,000. As of July 3, service to the following Boynton Beach trolley routes, which include 16 stops, will be cancelled: · Green Line- South Eastern district Providing service to riders along the eastern portion of Federal Highway with transfer stops at Bethesda Hospital. Monday - Friday routes only, with daily service beginning at 9:30 a.m. and ending at 4:15 p.m. No weekend operations. · Red Line- South Western district Providing service to riders primarily west of 1-95, through Leisureville and on to Congress Avenue and the Boynton Beach Mall. New stop scheduled for High Point Blvd. and transfer at Bethesda Hospital. Monday - Friday routes only, with daily service beginning at 9:30 a.m. and ending at 4:15 p.m. No weekend operations. Evaluation of available funding sources for remaining Northern Route (Yellow Line) and determination of the "value-added" aspect for residents living in the CRA District will take place at the CRA's Budget workshop in August. Since its inception in July 2005, research show this original trolley route has proved to be the most popular, serving more than 95,500 riders last year, comprised mainly of people taking the trolley to work and students. -confd- "Unfortunately we no longer have the luxury of customizing the trolley routes to the occasional rider's needs, but rather want to offer this free program to those residents looking for a practical, affordable means of everyday transportation," stated Lisa Bright, the CRA's executive director. "This effort is part of the CRA's ongoing commitment to improve the quality of life for residents and businesses within our 1 ,650-acre district." The Boynton Beach CRA is committed to serving the community by guiding redevelopment activities and stimulating economic growth within its 1,650 acre district. The agency focuses on creating a vibrant downtown core, providing affordable housing, and revitalizing neighborhoods. For more information on the CRA, its events and activities, call (561) 737-3256, or visit www.bovntonbeachcra.com. # ~'~~qY~TelRA . East Side....West Side....Seaside Renaissance The Boynton Beach eRA Presents "Salute to Independence" For Immediate Release: June 15, 2009 MEDIA ADVISORY WHO: WHAT: WHERE: WHEN: Boynton Beach - Free Event Salute to Independence- Music & Fireworks Intracoastal Park - Federal Hwy. just south of Gateway Blvd. Saturday, July 4, 2009 6:30 - 9:30 PM Celebrate the 4th of July in Boynton Beach! The festivities will include live music by the Synthesis Band, a special patriotic salute, a spectacular fireworks display by "Fireworks by Grucci" and food and beverage vendors on site. No pets or personal fireworks allowed. Seating is limited so please bring your folding chairs or blankets. Park and ride the free shuttle from Bank of America on Federal Highway and Ocean Avenue. Information line - 561-742-6246. Additional sponsors are The Palm Beach Post, WIRK and the Town of Ocean Ridge. ### Photographs are available. Media Inquires: Margee Walsh, O. (561) 737-3256, C. (561) 685-8883 1I!~~~Y~T8~ C . East Side-West SIde-SeasIde RenaIssance Media Contact: Margee Walsh CRA Marketing and Communications Director (561) 737-3256, ext. 204 walshm@bbfl.us FOR IMMEDIATE RELEASE June 22, 2009 WIDE SELECTION OF WING SAUCES PACK A FLAVORFUL PUNCH FOR DINERS AT BOYNTON BEACH TAKE-OUT RESTUARNT Boynton Beach, FL - The biggest challenge facing Sara Boyd's customers at Just Wings & A Few Other Things, is not how many wings to order, but which of the 17 sauces to choose from at her take-out restaurant, located at 1600 North Federal Highway, Ste. #6, in Boynton Beach. But Ms. Boyd is happy to help solve this dilemma, and often suggests placing orders that include combing a selection of flavors, such as hot honey and some raspberry, along with lemon pepper. Tucked away in the Yachtsman Plaza on north Federal Highway, Ms. Boyd celebrates her second anniversary this month at her Boynton Beach location, opening her original wing shack in 2000, down south in the Ft. Lauderdale area. Breakfast items are now available on the Boynton take-out menu, as well as a variety of spicy, flavorful "other things," Le. menu items, such as fried shrimp, pork "souse" (a popular Caribbean stew), chicken gizzards, and oversized, homemade red velvet cupcakes, which can be washed down with a bottle of chilled, sweet tea, available for sale in the self-serve cooler. "Folks come in mainly for my wings, and keep coming back while they decide which of the 17 flavors are their favorite, such as the sweet & sour or Thai," said Ms. Byrd, taking an order from a customer waiting in line. "I like to tell everyone, stop in and "treat your mouth to the best wings in the southl" Lunch specials and party platters are available. Store hours are Mon. - Sat., 11:00a.m. -10:00 p.m., Sunday, 12:00 p.m. - 6:00 p.m. For more information, call 561-740-9613. The Boynton Beach Community Redevelopment Agency, established in 1982 under chapter 163 of the Florida Statutes, serves to encourage diverse redevelopment activities; stimulate economic growth, create a destination core and enhance the visual appearance of the community by eliminating slum and blighted conditions, promoting crime reduction and providing for affordable housing within the City's community redevelopment area. To learn more, call 561-737-3256 or log on to www.bovntonbeachcra.com. Rufus Ribs serves up roadside barbecue ~ Mike Rothman, BOYNTON FORUM Friday, May 15, 2009 Photo submitted by Boynton Beach eRA: M. Walsh J Rufus Allen and his wife Brenda first decided to get into the barbecue business nine years ago with Rufus Ribs, 206 S. Federal Highway, a roadside trailer. Allen is a self- proclaimed "country boy" from Ocala, who learned to cook during family reunions. Allen works as a maintenance man for a local community and every year that community has a year-end cookout, in which he cooks for hundreds. "Everyone was always telling me you should get your own barbecue place together," he said. So, for almost the past decade, he has been cooking and selling ribs, pulled pork, catfish and a selection of sides and home made desserts. At Rufus Ribs, a whole rack of ribs is $23 and a half is $12. A whole chicken is $10 and a half is $8. Allen also has dinner specials with two sides for $10. Margee Walsh, Community Redevelopment Agency spokeswoman, said as Allen's reputation for barbecue has grown in the community, Allen and his wife expanded their operation. The Boynton Beach CRA, established in 1982, serves to encourage diverse redevelopment activities, stimulate economic growth, including local restaurants. "I was just struck with the hospitality of Rufus Ribs and the staff," Walsh said. "My job with the CRA is to promote local businesses and stimulate growth. With the economy so slow, some of these local businesses could use the help." Allen's menu options now include unusual special requests items such as wild game, goat and hog. J "I'm big into hunting and fishing," Allen said. "These are items people want but can't get anywhere else." Loyal customers line up every weekend to place their orders for grilled hog or the more traditional dishes such as homemade macaroni and cheese, sweet potato pie and collard greens. "Everybody likes my food," Allen said. Hours of operation for Rufus Ribs are weekends only, 7 a.m. to 7 p.m. Saturday and Sunday. Catering services available. Allen did say that he is going to start serving select items, including catfish, on Friday nights, when he gets off work around 3 p.m. Allen said the demand for his food is growing and the extra night should help. Beverly Arseneau, a Boynton Beach resident, has had Allen's ribs and said all the hype is warranted. "They are some of the best ribs I have ever had," she said. lilt is the kind of food you just want to take home to your family." For information, call Rufus Ribs at 561-932-8206. Mike Rothman can be reached at mkrothman@tribune.com. City gives exposure to local artists during tough times MIKE ROTHMAN I Forum Publishing Group May 27, 2009 Palm Beach County artists were on display last week at the Schoolhouse Children's Museum. Artavox III took place May 20 and more than 70 artists displayed their visual work on a projector aimed at the front of the museum, at 129 E. Ocean Ave. Debby Coles-Dobay, Boynton Beach's public art administrator, said the event also had a handful of performance artists, including poetry and dance, and some installation artists. "This is the third year we have done this," she said. "It really is just a celebration of all the artists in the area. A social event with wine, beer and food." Coles-Dobay said Bovnton Beach is centrally located within the county, so the museum was a perfect choice for the event. Involved in the event was the Palm Beach County Cultural Council, Artists of Palm Beach County, Boynton Beach Community Redevelopment Agency, Boynton Beach Art in Public Places and Palm Beach County Art in Public Places. "It was really a collaborative event that we put together on a limited budget with the times the way they are," Coles-Dobay said. Kelsey Harris, the museum's operations director, said she thought of the event as more of an open house for local artists. "We are a cultural place here in Boynton, so the event was just a nice fit," she said. Bovnton Beach songwriter Suzanne Cannon played a few songs at the event, including "Carolina," a song about where she grew up. "I am from South Carolina, so the song is about my home," she said. "This is my first time at the event, but I am always grateful for the opportunity to play any gig." She said it is always important for the community to support local artists like herself, especially in the fluctuating economy. "Events like this are key because places just aren't hiring musicians, they just can't afford it," she said. "When you play at something like this, it gives you exposure." One of the installation artists, Delrav Beach mural artist Sharon Koskoff, built a temporary installation titled "Secrets of the Self Portrait or How I Got A-Head in Art Class." Five mannequins,dressed in Jackson Pollack attire to look like Koskoff, were on display in front of the museum to welcome 300 guests to the Artavox III celebration. Koskoff said the art dummies were arranged to be creating self-portraits and visitors were welcome to draw one with the dummies. "There is a big paper for everyone to draw on as well," Koskoff said. "This type of event just reinforces all the creativity we have here in Palm Beach County. It is great for networking, too." Scully's uses 'culinary common sense' in its dishes - South Florida Sun-Sentinel.com Page 1 of2 "".... C , sun-sentinel.comfnews/palm-beach/boynton-beach/sfl- flbbfscully0603 bbfjun03, 0,33000 II.story South Florida Sun-Sentinel.com Scully's uses 'culinary common sense' in its dishes MIKE ROTHMAN Forum Publishing Group June 3, 2009 Kevin Scully, owner of Scully's Restaurant, has no culinary background but says he has "culinary common sense. " Scully, a Connecticut native who has lived in Boynton Beach for 21 years, began his culinary career as the owner of Scully's Market, located on Ocean Avenue, with his wife, Joann. ( ~ The market was open for more than eight years and beg as a convenience store. Scully said business was slow, so he started selling sandwiches and things just took off from there. () offidal BpODSOl" of the aha mornenl:S''' I\1UT11dl!!l' Omlllfll "Suddenly I was selling 50 to 60 egg sandwiches every morning," he said. "I'm a good cook; I know what people want." Customers frequented the convenience store to buy fresh produce and even burgers. After he sold the store and took a couple years off, Scully bought a business at 2005 S. Federal Highway that would eventually become Scully's Restaurant. His initial goal was to buy businesses and fIx them up. But once again, he started cooking burgers, breakfast and prime rib. His restaurant opened in 2002 and was closed for renovations from March to September of last year. Scully repaired the building with fInancial assistance from the Boynton Beach Community Redevelopment Agency's Commercial Fayade Grant program, said Margee Walsh, CRA spokeswoman. The program was developed to assist local business owners in improving the exterior of their buildings. The work is paid for by the business owner and then reimbursed by the CRA through an application I" process. \ Walsh said Scully reopened his Key West-style eatery and is now serving breakfast, lunch and dinner, httn: / /WWW.Sl m-sentinel.comfnews/nalm-beach/bovnton-beach/sfl- flbbfscully0603 bbfjun03,... 7/8/2009 Scully's uses 'culinary common sense' in its dishes - South Florida Sun-Sentinel.com Page 2 of 2 seven days a week. Residents can get Scully Burgers and prime rib from the menu for prices ranging from $6 to $24. "We don't take all your money and you get value for what you pay," Scully said. Today guests can dine inside or outside on a wooden pet-friendly deck. Menu selections also include seafood, fried chicken, ribs, sandwich platters and omelets. Hours of operation are from 7 a.m. to 9 p.m. Sunday through Thursday, and 7 a.m. to 10 p.m. Friday and Saturday. For information, call 561-733-4782. For information about the Boynton eRA, visit www.boyntonbeachcra.com or call 561-737-3256. Copyright ((;) 2009, South Florida Sun-Sentinel Economic Development Activity Jun-09 Relocation Assistance 1 Met w/Jeff Tomberg re: location for 30,000 sq.ft. manufacturing 2 Met w/Dr. Tom Rose for location of clinic 3 Provided information to ravis Blythe re: coin laundry 4 Met w/BiII Bymel re: site for grocery store 5 Met w/Sean Dykes re: location for non-profit 6 Met w/Harvey Oyer re: moving structure to his site 7 Met w/Lesha Roundtree re: School Owner Assistance 1 Met on Casa de Marina for site plan 2 3 Promotional 1 Met w/Lona O'Connor of PB Post for tour of downtown 2 Sun Sentinel article 5/15/09 Rufus Ribs 3 Sun Sentinel article 5/27/09 Artovox event 4 Sun Sentinel article 6/3/09 Scully's Restaurant (Commercial Fa~de Grant recipient) 5 Downtown businesses video taped for eRA District "Google Map" 6 (See attached list of businesses) Tenant Assistance 1 Met w/Laurence Davenport of the Business Loan Fund 2 Research on business services available for no cost (20 hours) 3 Recommendation on changes to Commercial Fayade Grant 4 - - I Rufus Ribs serves up roadside barbecue ') Mike Rothman, BOYNTON FORUM Friday, May 15, 2009 Photo submitted by Boynton Beach eRA: M. Walsh ) Rufus Allen and his wife Brenda first decided to get into the barbecue business nine years ago with Rufus Ribs, 206 S. Federal Highway, a roadside trailer. Allen is a self- proclaimed "country boy" from Ocala, who learned to cook during family reunions. Allen works as a maintenance man for a local community and every year that community has a year-end cookout, in which he cooks for hundreds. "Everyone was always telling me you should get your own barbecue place together," he said. So, for almost the past decade, he has been cooking and selling ribs, pulled pork, catfish and a selection of sides and home made desserts. At Rufus Ribs, a whole rack of ribs is $23 and a half is $12. A whole chicken is $10 and a half is $8. Allen also has dinner specials with two sides for $10. Margee Walsh, Community Redevelopment Agency spokeswoman, said as Allen's reputation for barbecue has grown in the community, Allen and his wife expanded their operation. The Boynton Beach CRA, established in 1982, serves to encourage diverse redevelopment activities, stimulate economic growth, including local restaurants. "I was just struck with the hospitality of Rufus Ribs and the staff," Walsh said. "My job with the CRA is to promote local businesses and stimulate growth. With the economy so slow, some of these local businesses could use the help." Allen's menu options now include unusual special requests items such as wild game, goat and hog. ~ r----'""_ _ _ _ __ _ _ _ _ "I'm big into hunting and fishing," Allen said. "These are items people want but can't get anywhere else." Loyal customers line up every weekend to place their orders for grilled hog or the more traditional dishes such as homemade macaroni and cheese, sweet potato pie and collard greens. "Everybody likes my food," Allen said. Hours of operation for Rufus Ribs are weekends only, 7 a.m. to 7 p.m. Saturday and Sunday. Catering services available. Allen did say that he is going to start serving select items, including catfish, on Friday nights, when he gets off work around 3 p.m. Allen said the demand for his food is growing and the extra night should help. Beverly Arseneau, a Boynton Beach resident, has had Allen's ribs and said all the hype is warranted. "They are some of the best ribs I have ever had," she said. "It is the kind of food you just want to take home to your family." For information, call Rufus Ribs at 561-932-8206. Mike Rothman can be reached at mkrothman@tribune.com. City gives exposure to local artists during tough times MIKE ROTHMAN I Forum Publishing Group May 27 2009 Palm Beach County artists were on display last week at the Schoolhouse Children's Museum Artavox III took place May 20 and more than 70 artists displayed their visual work on a projector aimed at the front of the museum, at 129 E. Ocean Ave. Debby Coles-Do bay, Boynton Beach's public art administrator, said the event also had a handful of performance artists, including poetry and dance, and some installation artists. "This is the third year we have done this," she said. "It really is just a celebration of all the artists in the area. A social event with wine, beer and food." Coles-Dobay said Boynton Beach is centrally located within the county, so the museum was a perfect choice for the event. Involved in the event was the Palm Beach County Cultural Council, Artists of Palm Beach County, Bovnton Beach Community Redevelopment Agency, Boynton Beach Art in Public Places and Palm Beach County Art in Public Places. "It was really a collaborative event that we put together on a limited budget with the times the way they are," Coles-Dobay said. Kelsey Harris, the museum's operations director, said she thought of the event as more of an open house for local artists. "We are a cultural place here in Boynton, so the event was just a nice fit," she said. Boynton Beach songwriter Suzanne Cannon played a few songs at the event, including "Carolina," a song about where she grew up. "I am from South Carolina, so the song is about my home," she said. "This is my first time at the event, but I am always grateful for the opportunity to play any gig." She said it is always important for the community to support local artists like herself, especially in the fluctuating economy. "Events like this are key because places just aren't hiring musicians, they just can't afford it," she said. "When you play at something like this, it gives you exposure." One of the installation artists, Delrav Beach mural artist Sharon Koskoff, built a temporary installation titled "Secrets of the Self Portrait or How I Got A-Head in Art Class." Five mannequins, dressed in Jackson Pollack attire to look like Koskoff, were on display in front of the museum to welcome 300 guests to the Artavox III celebration. Koskoff said the art dummies were arranged to be creating self-portraits and visitors were welcome to draw one with the dummies. "There is a big paper for everyone to draw on as well," Koskoff said. "This type of event just reinforces all the creativity we have here in Palm Beach County. It is great for networking, too." Scully's uses 'culinary common sense' in its dishes - South Florida Sun-Sentinel.com Page 1 of2 sun-sentine1.com/news/palm-beach/boynton-beach/sfl- flbbfscully0603 bbfjun03, 0,33000 II.story South Florida Sun-Sentinel.com Scully's uses 'culinary common sense' in its dishes MIKE ROTHMAN Forum Publishing Group June 3, 2009 Scully said business was slow, so he started selling sandwiches and things just took off from there. oIBdat IpODl'lOr oftbe aha 1ntR1leid.... I\.IImIiJl!!/'OmtINd Kevin Scully, owner of Scully's Restaurant, has no culinary background but says he has "culinary common sense. " Scully, a Connecticut native who has lived in Boynton Beach for 21 years, began his culinary career as the owner of Scully's Market, located on Ocean Avenue, with his wife, Joann. The market was open for more than eight years and beg as a convenience store. "Suddenly I was selling 50 to 60 egg sandwiches every morning," he said. "I'm a good cook; I know what people want." Customers frequented the convenience store to buy fresh produce and even burgers. After he sold the store and took a couple years off, Scully bought a business at 2005 S. Federal Highway that would eventually become Scully's Restaurant. His initial goal was to buy businesses and fix them up. But once again, he started cooking burgers, breakfast and prime rib. His restaurant opened in 2002 and was closed for renovations from March to September of last year. Scully repaired the building with financial assistance from the Boynton Beach Community Redevelopment Agency's Commercial Fayade Grant program, said Margee Walsh, CRA spokeswoman. The program was developed to assist local business owners in improving the exterior of their buildings. The work is paid for by the business owner and then reimbursed by the CRA through an application process. Walsh said Scully reopened his Key West-style eatery and is now serving breakfast, lunch and dinner, http://www.sun-sentine1.com/news/palm- beach/boynton-beach/sfl- flbbfscully0603 bbfjun03,... 7/8/2009 Scully's uses 'culinary common sense' in its dishes - South Florida Sun-Sentinel.com Page :~ (lj ::> seven days a week. Residents can get Scully Burgers and prime rib from the menu for prices ranging from $6 to $24. "We don't take all your money and you get value for what you pay," Scully said. Today guests can dine inside or outside on a wooden pet-friendly deck. Menu selections also include seafood, fried chicken, ribs, sandwich platters and omelets. Hours of operation are from 7 a.m. to 9 p.m. Sunday through Thursday, and 7 a.m. to 10 p.m. Friday and Saturday. For information, call 561-733-4782. For information about the Boynton CRA, visit www.boyntonbeachcra.com or call 561-737-3256. Copyright @ 2009, South Florida Sun-Sentinel 11ttn' / /www ~:mn-~entlnel_com/new~/nalm-beach/bovnton-beach!sfl- flbbfscullv0603bbfjun03,... 7/8/2009 "CRA District Google Map'; Downtown businesses video taped: June 2009 Ham'r Time Charter Fishing Owner of Business: Paul Fasolo Address: 700 Casa Loma Blvd. City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 685- 1207 Email Address:capthamr@aol.com Boynton Boat Rentals Owner of Business: Marcelo Juchem Address: 700 Casa Loma Blvd. City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 735-2199 Personal: (561) 523-2214 Email Address:marcelomph@yahoo.com Art-Sea Living Owner of Business: Barb Lenz Address: 640 East Ocean Ave., Ste. 21 & 22 City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 737-2600 Email Address:babs@art-sealivino.com Fancy Flamingo Owner of Business: Tammy Deery Address: 640 East Ocean Avenue, Ste. 20 City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 735-8848 Fax: same as above Email Address:thefancvflaminoota>.aol.com Cafe Frankie's Owner of Business: Anthony Calicchio Address: 640 East Ocean Ave. City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 732-3834 Fax: (561) 735-8604 Email Address: 714anthonyta>.live.com Downtown businesses video taped: June 2009 Page 2 Nail Know How Owner of Business: Mindy Stern Address: 640 East Ocean Avenue, Ste. 17 City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 572-2282 Fax: N/a Email Address:nailknowhow@aol.com Beachcomber Art Owner of Business: Debbie Brookes Address: 112 South Federal Hwy. City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 315-5717 (cell) Fax: (561) 737-4359 Email Address:dsbpisces@hotmail.com Maddie's Flowers by The Sea Owner of Business: Madeleine Whitney Address: 112 South Federal Hwy., Ste. 8 City, State, ZIP: Boynton Beach FL 33435 Business Phone: (561) 731- 4545 Fax: N/a Email Address: N/a The Blossom Shoppe Florist and Gifts Owner of Business: Lynda Tatara Address: 402 E Ocean Ave City, State, ZIP: Boynton Beach, FL 33435 Business Phone: 561-732-3722 Fax: 561-364-5916 Email Address: (public) Lvnda~blossomshopoeflorist.com Weiss Memorial Chapel Owner of Business: Jack and Gloria Weiss Address: 202 East Boynton Beach Blvd. City, State, ZIP: Boynton Beach, FL 33435 Business Phone: Chapel (561) 737-0001,1- 800 -588-7118 Fax: (561) 737 - 0550 Email Address:weissmemorialchaoel@vahoo.com Downtown businesses video taped: June 2009 Page 3 Just Wings and a Few Other Things Owner of Business: Sara Boyd Address: 1600 N. Federal Hwy., #6 City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 740-9613 Fax: 561-740-9643 Contact Person Email Address: Joranae34<.a>.aol.com Zen Bodyworks Owner of Business: Lenore Maio Address: 639 E. Ocean Avenue, Ste. 102 City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 248-8499 Fax: N/a Email Address:zenbodvworks<.a>.zenbodvworks.net Grooming by Holly Owner of Business: Holly Snow Address: 640 E. Ocean Avenue, Ste. 5 City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 737-0575 Fax: N/a Email Address: N/a Hurricane Alley Owner of Business: Kim Kelly Address: 529 E. Ocean Avenue City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 364-4008 Fax: N/a Email Address:kimallev529<.a>.bellsouth.net Eye of the Storm Owner of Business: Kim Kelly Address: 529 E. Ocean Avenue City, State, ZIP: Boynton Beach, FL 33435 Business Phone: (561) 364-4008 Fax: N/a Email Address:kimallev529(lUbellsouth.net ~~~qY~Te~ C III East Side'" West Side"'Seaside Rena'lssance eRA BOARD MEETING OF: July 14, 2009 I Consent Agenda I Old Business I I New Business Public Hearing I X I Other SUBJECT: Budget Update FY 2009-2010 SUMMARY: . Final data from the Palm Beach County Property Appraiser on assessed valuations indicates a reduction of 19% and a drop in TIF revenues to $6,284,000, a decline of 23%. . Once the assessed valuations are set by the Property Appraiser, TIF revenue for FY 2009-2010 is dependent upon the millage rates set by the City and County. . Chart 1 shows estimated TIF for millage rates as of July 9th as well as projected TIF if millage rates are set at roll-back for the City and County rates as discussed at recent meetings. . The CRA Budget Workshop is scheduled for Monday, August 10,2009,6:00 pm - 9:00 pm, at City Commission Chambers. FISCAL IMPACT: None. CRA PLAN, PROGRAM OR PROJECT: None. RECOMMENDATIONS: None. .Go~ Susan Harris Finance Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Budget Update FY 2009-2010.doc CHART 1 "::0 OM - .:;)....... Millaae City County No Change City: Rollback Rate County: 6/30/09 6.4553 7.9035 3.7811 4.3400 $ 6,445,213 $ 7,708,956 $ 6,284,000 $ 7,516,232 $ 1,2.',..2 TIF TIF w/true-up Difference Note: Components of TIF -- City County Millage - No City: Rollback Rate Chan e Count: 6/30/09 $ 4,064,493 $ 4,976,333 2,380,719 2,732,623 $ 6,445,213 $ 7,708,956 1!I~<tY~T8~ eRA ill East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14, 2009 I I Consent Agenda I I Old Business I I New Business I I Legal I X I Other SUBJECT: "Downtown Merchant Mingle" Event SUMMARY: The continual economic slowdown and less than optimistic forecast for the future of small businesses has led to a joint networking partnership event. Downtown businesses are encouraged to attend a local "meet-n-greet" information forum to assist with the challenging economy. . The City of Boynton, The Greater Boynton Beach Chamber of Commerce and Boynton Beach Community Redevelopment Agency, Ellie's 50's Diner and Donald Porges, CPA, are hosting this downtown business networking event. . The event will showcase strategies for survival through programs administered by the three entities including information on the American Reinvestment & Recovery Act (ARRA) Small Business Loan Program. . The Downtown Merchant Mingle will be held at the Boynton Women's Club on July 30, 2009, from 5:30 pm to 7:30 pm. FISCAL IMPACT: $950.00-FY08-09 Budget Line Item-51420-200; Small Business Dev. Assistance CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan & CRA Economic Development Plan Information only. Kathy Biscuiti Special Events Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\eompleted Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Downtown Merchant Mingle.doc II Ii 11, II IL II :1. II. '~. fF it 'I h Would you like to find out about free opportunities available to promote or revitalize your business? Then plan on joining us at the...... "Downtown Merchant Mingle" min.gle (m1ng'g91) to mix so that the components become united ! r I. Thursday, July 30,2009 5:30 p.m. - 7:30 p.m. i I ~. ~. t ~ I I Boynton Woman's Club 1010 South Federal Highway Complimentary appetizers and beverages provided by Ellie's Diner Free valet parking i i ..1 ,~ I ,; I tl . I I I ',I Downtown small business owners are invited to attend this I4meet-n-greet" information forum to learn about opportunities available to assist our local merchants during this economic slowdown. I I RSVP by July 24 Kathy Biscuiti, 737-3256, ext. 212 www.boyntonbeacb.cLa I I" Joint networking, partnership event sponsored by ~ . ~~Ry~~tRA Ii East Slde~West S1de~Seaslde Renaissance TH. OR.AT.R BOYNTON BEACH CHAivll!iEA OF COMMERCE Ellie's Diner and Donald Porges, CPA --_.---- - ~~~~Y~T8~ .c . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I I Old Business I I New Business I I Legal I X I Other SUBJECT: Closing ofCRA's 4COP Liquor License SUMMARY: At a Special meeting held on June 16,2009, the CRA Board approved the sale of the Agency's 4COP liquor license to Gary Braisted for the contract sales price $65,000.00 minus brokerage commission. The closing under the contract terms occurred on July 1, 2009 (see attached closing statement). Net proceeds to the CRA totaled $59,867.26. The proceeds will be placed into the CRA's Project Fund. FISCAL IMP ACT: Revenue to the CRA of$59,867.26 - Project Fund CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Federal Highway Corridor Plan RECOMMENDATIONS: Information Only / /4k~~' Michael Simon, Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Closing of 4COP Iic - Info Only.doc CLOSING STATEM!ENT BUYER: GARY M. BRAISTED SELLER: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY PROPERTY: That certain 4-COP State and County alcoholic beverage license bearing number 60-00711 DATE: July 1, 2009 CREDIT BUYER CREDIT SELLER Purchase price 65,000.00 Deposits held in RealtyMasters Trust Account 6,500.00 License Prorations $1,820.00 x 1 year ($4.99/diem x 274 days) 1,367.26 Cash to close 59,867.26 Total $66,367.26 $66,367.26 Seller's Gross Proceeds: Less: Brokerage Fee $ 66,367.26 $ 6,500.00 NET PROCEEDS TO SELLER: $ 59,867.26 THE ABOVE FIGURES ARE HEREBY ACCEPTED AND APPROVED, SUBJECT TO CORRECTION FOR ERRORS AND/OR OMISSIONS, BY: BUYER GARY M. BRAISTED SELLER BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: By:.~4>ltl( 7~ UYER: GARY M. BRAISTED ELLER: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY .OPERTY : That certain 4-COP State and County alcoholic beverage license bearing number 60-00711 ATE: July 1, 2009 CREDIT CREDIT BUYER SELLER . urchase price 65,000.00 eposits held in 6,500.00 ealtyMasters rust Account icense Prorations 1,820.00 x 1 year $4. 99/diem x 274 days) 1,367..26 ash to close 59,867.26 otal $66,367.26 $66,367..26 eller's Gross Proceeds: ess: Brokerage Fee $ 66,367.26 $ 6,500.00 ET PROCEEDS TO SELLER: $ 59,867.26 HE ABOVE FIGURES ARE HEREBY ACCEPTED AND APPROVED, SUBJECT TO CORREC~ OR ERRORS AND/OR OMISSIONS, BY: IUYER ARY M. BRAISTED SELLER BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY y: 0(( ~' - Li' q.---&- By'. . <ptR/ f- &; CITY OF BOYNTON BEACH PLANNING & DEVELOPMENT BOARD MEETING AGENDA DATE: Tuesda~June23,2009 TIME: 6:30 P.M. PLACE: Commission Chambers 100 E. Boynton Beach Boulevard Boynton Beach, Florida 1. Pledge of Allegiance. 2. Introduction of the Board. Agenda Approval. 4.. Approval of Minutes. 5. Communications and Announcements. A. Planning and Zoning Report 1. Final disposition of the May 26, 2009 Planning and Development Board meeting Agenda items. 6. Old Business None 7. New Business A. NE 11th I NE 12th Avenue Alley Abandonment 1. PROJECT: NE 11th I NE 12th Avenue Alley (ABAN 09-002) AGENT: Andrew Mack, Engineer LOCATION: City of Boynton Beach BetweEm NE 11th Avenue and NE 1ih Avenue, east of North Seacre-st Boulevard OWNER: Planning and Development Board Meeting Agenda June 23, 2009 Page 2 NE 11th / NE 1ih Avenue Alley (ABAN 09-002) cont'd. DESCRIPTION: City-initiated request for abandonment of an unimproved alley right-of-way five (5) feet in width lying between NE 11th Avenue and NE 12 Avenue, extending east from North Seacrest Boulevard to an area west of Railroad Avenue. B. JR Waters ports Abandonment 1. PROJECT: JR Watersports (ABAN 09-003) AGENT: Beril Kruger of Beril Kruger Planning & Zoning Consultants OWNER: Michael Wood, Contract Purchaser LOCATION: 725 North Federal Highway DESCRIPTION: Request for abandonment of an unimproved alley, approximately 20 feet wide by 206 feet in length, totaling 4,135.4 square feet, running north and south adjacent to and parallel with the Florida East Coast (FEC) railroad. JR Waters ports Conditional Use/Maior Site Plan Modification 1. PROJECT: JR Watersports (COUS 09-001 I MSPM 09-002) AGENT: Beril Kruger of Beril Kruger Planning & Zoning Consultants OWNER: Michael Wood, Contract Purchaser LOCATION: 725 North Federal Highway DESCRIPTION: Request for conditional use /major site plan modification approval for conversion of two (2) vacant buildings totaling 7,419 square feet to a new boat dealership including an ancillary customization/service component, in a General Commercial (C-4) zoning district. Planning and Development Board Meeting Agenda June 23, 2009 C. Southern Pine Lumber Maior Site Plan Modification 1. PROJECT: AGENT: OWNER: LOCATION: DESCRIPTION: D. Dogfather Mobile Vending Unit 1. PROJECT: AGENT: OWNER: LOCATION: DESCRIPTION: Page 3 Southern Pine Lumber (MSPM 09-005) Timothy J. Healey, Frontier Engineering, Inc. Richard S. Kozell of Southern Pine Lumber Company 1100 West Industrial Avenue Request for major site plan modification approval to add a 1,056 square foot modular office building and associated site improvements, and to demolish the existing 611 square foot office building, on a 0.84-acre parcel in the M-1 zoning district. Dogfather (MVU 09-003) Alicia Gondi, Cilantro Grill, LLC Boynton JCP Associates, Ltd. 801 North Congress Avenue (Boynton Beach Mall) Request for mobile vending unit (MVU) approval to be located outside the main mall entrance, on the north side of the entrance opposite the former Ruby Tuesday restaurant. E. Zoning Permits and Verification Code Review 1. PROJECT: AGENT: DESCRIPTION: Zoning Permits and Verification (CORV 09-005) City-initiated Request for interim amendments to the Land Development Regulations, Chapter 1, Article VIII and Chapter 2, Section 4.J to enable the review for issuance of zoning permits and zoning verifications. Planning and Development Board Meeting Agenda June 23, 2009 Page 4 F. Churches in Residential Districts Code Review 1. PROJECT: Pre-existing churches in residential zoning districts (CDRV 09-006) AGENT: City-initiated DESCRIPTION: Request for interim amendments to the Land Development Regulations, Chapter 2, Zoning, Section 11 (C) to establish provisions, related improvements, and expansion limits applicable to non-conforming churches within single-family zoning districts. 8. Other 9. Comments by members 10. Adjournment NOTICE ANY PERSON WHO DECIDES TO APPEAL ANY DECISION OF THE PLANNING AND DEVELOPMENT BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING WILL NEED A RECORD OF THE PROCEEDINGS AND FOR SUCH PURPOSE 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 CITY 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 CITY. PLEASE eONT ACT JOYCE COSTELLO, (561) 742-6013 AT LEAST TWENTY (24) HOURS PRIOR TO THE PROGRAM OR ACTIVITY If\) ORDER FOR THE CITY TO REASONABLE ACCOMMODATE YOUR REQUEST. S:\Planning\SHARED\WP\AGENDAS\P&D 1\2008 Agendas 6-23-09 Agenda Meeting new template.doc 1~~qY~Te~ C . East Side-West S'lde-Seas'lde Renaissance eRA BOARD MEETING OF: July 14, 2009 I Consent Agenda I X I Old Business New Business Public Hearing I I Other SUBJECT: Trolley Analysis - Fee Based Service SUMMARY: . At the June 9, 2009 CRA Board meeting a motion was approved requesting staff present a "proposal on how the Board might be able to collect fees to recoup the cost of the trolley." See attached minutes. · After discussion with Palm Beach County Palm Tran management and a revenue/cost analysis the following summarizes the findings - o Ridership would decrease - by 15% at 50 cent per ride; at $1.00 per ride by 35% (per survey conducted by trolley operator). o Payback = 15 months at 50 cents per ride; 10 months at $1.00 per ride. o Net annual estimated revenue (after monthly operating costs): · Year 1 - 50 cents per ride = $(13,269); $1.00 per ride = $16,168 · Year 2 - 50 cents per ride = $21,151; $1.00 per ride = $50,588 o Estimated cost recovery after Year 1: · 50 cents per ride = 4% · $1.00 per ride = 10% o Most significant advantage - potential cost recovery at a maximum of 10% per annum. o Most significant disadvantage - safety, cost issues and underserved population transportation needs not met by imposition of fee. T:\AGENDAS, eONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Trolley - Fee Cost Analysis.doc FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: None. RECOMMENDATIONS: Option 1: Option 2: Option 3: Option 4: Keep free trolley service Implement fee-based system at 50 cents Implement fee-based system at $1.00 per ride Defer until budget workshop on August 10, 2009 when eRA FY 2009-2010 TIF known. Susan Harris Finance Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Trolley - Fee Cost Analysis.doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 not a nuisance property. However, the Committee felt if the owner would sell at the appraised value, it would be a worthy purchase. If not, the purchase could be made at a later date. The Committee indicated a preference that Ms. Rudd sign the contract, stipulating she would sell for the appraised value. The Board agreed acquisition efforts should be focused on properties located in Phase I. Motion Mr. Rodriguez moved to deny the purchase request. Mr. Weliand seconded the motion that passed unanimously. B. Budget Discussion Susan Harris, Finance Director, noted she had prepared two charts pertaining to assessed valuations and Tax Increment Financing (TIF) revenues. The assessed valuations had declined another 20% which was anticipated based on the Property Appraiser's information to the municipalities several weeks ago. TIF revenues would decline this year 22%-24% to $6.3 million from $8.3 million. The final Tax Increment Financing (TIF) revenues were based on the assessed valuations received from the Property Appraiser and the millage rates applied to the assessed valuations by both the City and the County. The numbers provided in the charts were based on the assumption there would be no millage rate increase by the City or the County. However, if the City utilized the roll-back rate and the County utilized the rate they had been considering, the CRA would realize another increase in Tax Increment Financing (TIF) revenues of $1.1 million to $1.2 million. While Ms. Brooks had suggested a budget workshop for the end of July, she suggested the Board might want to consider an early-August date, as the City would be considering its budget and millage rates in mid-July and would be required to furnish next year's proposed millage to the Property Appraiser in August. At the suggestion of the Board, Ms. Harris would set aside three dates for the workshop. 1. Consideration of Trolley Service Contract Renewal Ms. Brooks noted the current contract would expire at the end of September, 2009. If the Board did not wish to continue the service, notice would be required by June 29, 2009 pursuant to the 90-day termination clause in the existing contract. If not terminated timely, the contract would automatically renew for two three-year periods. The trolley vendor had agreed to amend the 90-day notice requirement to 45 days. At that time, staff would have further knowledge of the CRA's revenue for the next year and could provide the Board with viable trolley transportation scenarios. Ms. Bright added it had been clear the ridership had never developed for the southern route, and if a decision were to be reached at this meeting, staff could not recommend the service 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 be continued. Additionally, based on Tax Increment Financing (TIF) revenues to date, Ms. Bright believed the trolley service would not be financially feasible. She noted, however, the northern route had been successful and provided service to Tri-Rail and Palm Tran. As set forth above, the amended notice provision would allow staff to provide a more accurate picture of what might be preserved in the program. Ms. Bright noted the Transportation Concurrency Exception Area (TCEA), under which the CRA was operating, did not require trolley service. Chair Taylor pointed out if the southern route were to continue in effect through September 30, 2009, the cost would amount to $58,950. If it were to be terminated as of July 3, 2009, a termination fee of $18,000 would result. He believed the trolley service should be terminated completely. The northern route's ridership consisted of only 50 people in a City of 67,000 citizens. The cost for the north and south routes amounted to $734,000, a "nice-to-have" rather than "must-have" service. Mr. Weiland believed the southern route should be eliminated. As the northern route had been successful and transported students back and forth to school, Mr. Weiland suggested the hours of operation be reduced. Ms. Brooks indicated ridership for the northern route remained level and was not subject to seasonal fluctuations. The $734,000 would increase as a result of an escalator clause in the agreement which raised the hourly rate from $65 to $67.50. Mr. Rodriguez suggested riders be charged $1 which would amount to nearly $200,000 in revenues against the cost. Ms. Harris did not believe a $1 charge was feasible based on cost issues such as collection, reconciliation and auditing and the installation of meters. Kurt Bressner, City Manager, inquired whether a transit component for the trolley system had been required by the Transportation Concurrency Exception Area (TCEA) east of 1-95. Ms. Brooks replied the only requirement was the biannual submission of reports to the County, to which staff had attended. Brian Miller, 2515 NE 2nd Court, was familiar with the northern route which was heavily used by seniors, residents in the area and students. Rather than eliminating the route, he believed it would be prudent to charge riders $1 each way. Mr. Rodriguez requested staff provide costs pertaining to the implementation of a fee. Mr. Weiland agreed. Chair Taylor would not support a fee but would support the elimination of the southern route. Ms. Ross believed the northern route should be preserved. 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 Motion Mr. Rodriguez moved that before taking any action on eliminating any routes, staff provide an analysis of what it would take to implement a fee-based ridership to the Board. Attorney Cherof noted the deadline for the 90-day period would be July 2nd, prior to the next Board meeting. As such, Attorney Cherof suggested the Board either amend the contract or proVide notice of termination of the contract, which could be rescinded or renegotiated at a later date. The amendment would not result in the extension of the notice period, but would shorten the time period for cancellation. It was noted the CRA would save $40,000 immediately by eliminating the southern route by July 3, 2009. Ms. Bright pointed out the southern route was utilized mostly by seniors traveling to the hospital, and most of the residents in the area did not reside in the City during the summer months. She reminded the Board the southern route had been operating on a trial basis for a year, and ridership had declined. Mr. Rodriguez was not prepared to eliminate the southern route until the fee implementation costs had been provided. Chair Taylor's observations revealed no one had been utilizing the service on the southern route. If the route were cancelled at this time, riders would still have until July 3rd to make use of the service. Mark Karageorge, 240A Main Boulevard, agreed ridership on the southern route was low and, therefore, the route was not cost effective. Residents in the High Point area preferred the Shopper Hopper as it accommodated the handicapped and provided door- to-door service. He believed the southern route should be eliminated at this time. He agreed revenues could be recouped by imposing a charge on the northern route ridership. Victor Norfus, 261 N. Palm Drive, suggested the use of trolley passes for the northern route. Notices could be placed on the trolleys notifying the ridership of the charge and passes could be obtained at City Hall. He believed collecting monies on a trolley could be a security issue. As the ridership was declining on the southern route, he felt the route should be discontinued. Motion Chair Taylor passed the gavel and moved to eliminate the southern route as of July 3rd. Mr. Weiland seconded the motion that passed 4-1 (Mr. Rodriguez dissenting). 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida June 9, 2009 Discussion ensued regarding the northern route. Mr. Rodriquez requested staff explore the concept of a cost-based ridership in order to recoup some of the costs of running the trolley. An analysis of the implementation costs should be included. Ms. Brooks noted staff would also bring back to the Board other proposals including route changes, and elimination of both non-productive stops and Saturday service. Mr. Hay requested staff also explore the use of passes on the trolleys. Ms. Harris explained if a program were developed wherein the trolley operator were to collect the fees, the CRA would be required to develop internal audit controls and a process for handling the cash, similar to the practice used for the marina. Motion Mr. Rodriguez moved to approve the amendment to the contract for the 45-day notice. Mr. Weiland seconded the motion that passed unanimously. Motion Mr. Rodriguez moved for staff to come back to the Board with a proposal on how the Board might be able to collect fees to recoup the cost of the trolley. Mr. Hay seconded the motion that passed 4-1 (Chair Taylor dissenting). 2. Review of Community Care Rollover Allocation from FY 2006/2007 Ms. Brooks noted the Board had allocated $200,000 to the Community Caring Center in fiscal year 2006/2007. In August 2008, pursuant to an internal agreement between the Community Caring Center and the Women's Circle, Sherry Johnson, Executive Director of the Community Caring Center, requested half of the funding be allocated to the Women's Circle and half to the Community Caring Center. The Board had no objection to the allocation at that time. Since then, the Women's Circle had contracted for a property on SE 4th Street and was scheduled to close on August 22, 2009. They would be drawing down the $100,000 at closing. The CRA would hold a mortgage and note on the property and if the property sold, the CRA would collect the full amount of the monies. The Community Caring Center had been negotiating for a property on NE 6th Avenue, but was not yet under contract. Ms. Harris added the $200,000 previously allocated had been carried by the CRA since 2007 and State Statutes required the monies be expended within three years. As the $200,000 could only be carried for another year and a significant budget deficit was anticipated for the next fiscal year, staff recommended one of the following options: . Allow the continuation of the $200,000 allocation to be expended for the purchase of the building, with a commitment to fully expend the funds for the designated purpose by September 30, 2009. If the original funding purpose was 13 * 1~~<tY~Te~lC RA iii East Side-West SIde-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: Consideration of Amendments to the CRA Homebuyer Assistance Grant Program (HAP) Guidelines and Application for FY 2009-2010 SUMMARY: The CRA has been administering the Homebuyer's Assistance Grant Program to income eligible first time buyers since October 2006. The purpose of the program is to assist eligible buyers with down payment, closing costs and mortgage gaps for the purchase of a new or existing home within the CRA district. The maximum grant awards under the HAP program is $50,000. To date, the HAP program has expended approximately $1,550,000 in grant funding to assist a total of 31 homebuyers. As we approach a new fiscal year, staff has reviewed current program guidelines and would like to recommend the following amendments in addition to document verbiage edits (see attached): 1. Provide maximum grant award of $50,000 to low & very low income applicants and a maximum grant of $35,000 for moderate income eligible applicants. 2. Requirement for full repayment of the grant regardless of whether or not the new buyer is low income. 3. Require repayment of the grant if the home is refinanced at 100% of the property's value at the time of refinancing. 4. Elimination of the 4% interest charge for leasing the purchase assisted property. Instead, the full amount ofthe grant will be due to the CRA at the initiation of a lease by the property owner. 5. Elimination of the equity sharing requirement under the grant terms. Instead, the full amount of the grant award will be due to the CRA at the sale of the property during the term of the first mortgage. 6. Provide for program application and grant approval to be administrative. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: Boynton Beach Redevelopment Plan, Heart of Boynton Plan RECOMMENDATIONS: Approval of recommended amendments and edits to the FY 2009-10 Homebuyer Assistance Grant Program (HAP) Guidelines and Application as presented and attached. ~/~ ~ff~. . Michael SImon, eve opment Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Amendments to the HAP program.doc ~. '" /~~' ~ ~~~~Y~T8~ICRA ill East Side-West Side-Seaside Renaissante Homebuyer Assistance Program (HAP) 20028/2009010 The Boynton Beach Community Redevelopment Agency (CRA) recognizes that the future economic health of the City of Boynton Beach depends upon the sufficient supply of housing priced for working families. As housing prices climbed by double digits in 2005-2006, many families were priced out of the housing market. The City of BoymoN Bcaeh reoei'.'es State HONsiag IBitiati'/es PartRcrship (SHIP) dollars to pro';ie:ie do',',']) paymcat assistaNce to lo'.v aHa modefa~e income families. Due to rapid housing appreciation while salaries and income increases stagnated. the number of low and moderate income families who can afford to buy homes has decreased. In an effort to assist more families~ the CRA has implemented the Homebuyer Assistance Grant (HAP) Program. In addition, the City of Boynton Beach receives State Housing Initiatives Partnership (SHIP) dollars to provide down payment assistance to low and moderate income families. CRA p.~rogram funds can be layered with the City's SHIP Down Payment Assistance Program to provide gap financing to families. If SHIP funds are unavailable, HAP funds can be used as the sole source of down payment assistance. The maximum HAP grant award to an eligible very low or low income applicant is $50,000.00, and the maximum HAP grant award to an eligible moderate income applicant is $35,000.00. Program Guidelines 1. Annual grant funds are limited. Grant F[unding is awarded on a first-come, first-approved basis unless the applicant meets a preference condition set forth below under items 9, 10 or 11.. 2. Grant awards require CRA Board approval as part of the application process and prior to the release of funding. Approved Grants must be expended within six months of CRA Board approval. Grant awards not expended within the six months timeframe will be forfeited and the grant terminated. 3. Applicants must meet all of the qualification criteria of the Homebuyer's Assistance Program. Qualification of applicants will be conducted by CRA staff or a Community Housing Development Organization (CHDO). If illLapplicant is working with a CHDO or the City of Boynton Beach, a request for HAP funds must be made on the applicant's behalf by either the City or CHDO. Application packages can also be submitted by a lender. 4. Applications must be submitted along with the following information in order to be processed: · Copy of Personal Identification for each signing applicant. · Copy of birth certificates for each member ofthe household under 18 years of age. · Copy of Homebuyers Education Program certificate · Copy of Lender' s Verification of Employment form dated within 4 months of application for each working member of the household over 18 years of age. - 1 - 7. 9. 113. · Statement of No Income fonn for anvone living in the household over the age of 18 not employed. . Copy of most recent year's Federal Income Tax Return. . Signed copy of mortgage application - 1008 & 1003 forms. . Copy of executed Loan Commitment. · Copy of executed Sale & Purchase contract for home. . Copy of property appraisal of home to be purchased. 5. Family income must not exceed 120% of median household income for Palm Beach County as set by HOD in the year of application to the program. 6. Purchase Price New - Not to exceed $280,462 Existing - Not to exceed $280,462 New Home Construction Loans- in certain cases where the CRA has supplied the vacant lot. the value of the City/CRA lot awarded to homebuyer is excluded from the CRA/City subsidy amount, but is included in the permanent mortgage encumbrance. Eligible Properties include existing, single-family homes, construction of new single-family homes, townhomes and condominiums located within the CRA district boundaries. 8. Use of Funds: a. Down payment and closing costs. b. Rehabilitation costs (if required to bring the home up to code) Families with dependent, minor children will receive preference. 10. Persons working within the City of Boynton Beach will receive preference. 11. Applicants employed in the "essential services" sectors (educators, police, firefighters, healthcare workers and skilled building trades) will receive preference. 12. Income from all adult members of the household will be included in the computation of gross income. City and CRA funding shall not exceed 40% for moderate income buyers and 50% for low and very low income buyers of the purchase price. The actual amount of funding awarded shall depend upon the funding gap. In no case shall CRA funding be awarded above the funding gap amount off $50,000.00 for low and very low and $35.000.00 for moderate income eligible applicants. Rehabilitation expenses related to bringing the home up to code may be included up to $50,000 maximum grant awards. Example # 1 : Moderate Income Household Purchase Price of Home Closing Costs Maximum Mortgage Amount City's Maximum SIDP Down payment Funding Gap - CRA HAP funds Percent of Public Subsidy $ 60,000 $280,000 $ 5,000 $213,771 $ 50,000 $ 21,229 25% - 2 - Example #2 Low Income Household Purchase Price of Home Closing Costs Maximum Mortgage Amount City's Maximum SHIP Down payment Funding Gap - CRA HAP funds Percent of Public Subsidy $ 40.200 $280,000 $ 5,000 $164,700 $ 75,000 $ 45,300 43% - 3 - 14. Projected housing costs, including mortgage, interest, taxes, insurance and homeowner's association fees shall not exceed 35% of gross household income or whatever the primary lender determines. The maximum total debt ratio (total housing expenses plus other monthly debt obligations) shall not exceed 45% of income unless otherwise approved by the lender. Example # 1 Moderate Income Gross Monthly Income Mortgage Payment (incl. taxes & insurance) Other Debt Housing Expense Ratio (not to exceed 35%) Overall Debt Ratio Example #2 Low Income Gross Monthly Income Mortgage Payment (incl. taxes & insurance) Other Debt Housing Expense Ratio Debt Ratio $60,000 $ 5,000 $ 1,282 $ 500 27% 35% $ 40,200 $ 3,350 $ 987 $ 300 29% 38% 15. Applicants must be fIrst time homebuyers, with no previous homeownership within the past three years at the time of application. First time home buyer status shall be determined by revie\ying the three eonseemive years of Federal Income tax returns. 16. Funds shall be in the form of a 0% interest. second mortgage behind the fIrst mortgage. If the City's SHIP funds are used and in a greater amount than CRA HAP funds, CRA funds will be secured in the form of a third mortgage behind the City of Boynton Beach's encumbrance. RcpayrneRt of the CR,^. funds will Rot be reql:lirea if the home is resold to an ifleom.e ql:lalified bHyer. Income qasJifieatioH of the Hew buyer shall be certified by CR,^. staff. Resale of the home to a nofl. income ql:lalified buyer will require repayment of the CRA subsidy amount ffi-full-at time of closing in compliance within the terms and conditions of the Promissory Note and Grant Agreement. 17. Refinancing of the property at 100% of the original purchase price will result in repayment of CRA funds_ v/ith iHterest aeemed at 1% per aI'l:flurn in full and in compliance with the terms and conditions of the Promissory Note and Grant Agreement. RefiHaueing of the property may be permitted in sflecial circl:lmstll:Rees with prior ',vritten approval from the CR..^.. 18. Families who receive CRA Homebuyers Assistance shall occupy the residence for the term of the first mortgage. If the residence is leased and no longer occupied by the recipient of CRA funds, any and all CRA grnn,tfunds phIS iRterest at 4% anfl1:Hn from. given at the time of purchase shall become due and payable in full. Families that receive assistance shall submit proof of residency to the City and CRA annually by the anniversary of the closing date. The accepted form of proof is a utility bill showing the program recipients name and address. Failure to comply will result in the CRA funds becoming due and payable. - 4 - 19. Upon sale ofthe property at any time during the duration of the first mortgage term, within the first fivc years the owner must repay .w 100% of the PJcP grant amount equity (dctenninod by n fc.ir market appraisal) to the CRA. During years 6 2C. 50~<; of the during years U-JG, % ef...tlte equity is; due to the CRA upon sale of tho properr- Example: Original home price: Mortgage CRA Funds New Sales Price @yr 6 1 st Mortgage Payoff Grant funds to be repaid to eRA Equity $180,000 $130,000 $ 50,000 $210,000 $120,000 $ 50.000 $ 40,000 20% Equity to Seller Percent of Equity to City Percent of Equity to CRA. $ 10,000 $ 28,400 $ 11,600 20. The City and CRA shall reserve the right-of-first-refusal to purchase the property at the fair market appraised value within 45 days of written notice from the property owners. If the CRA chooses not to purchase the property at the fair market value or elects not to exercise their first right of refusal. the property owner will be notified in writing. 21 . Offering of the program is no guarantee of funding. All decisions are subject to approval of the CRA Board of Directors. Applicants acknowledge by signing below, that they have read the Housing Assistance Program Guidelines and hereby agree to the terms of the program and application process. Applicant Signature Date: Applicant Signature Date: - 5 - BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY HOMEBUYER'S ASSISTANCE PROGRAM APPLICATION Date: Name/s of Applicant/s: Address of Applicant/s: Address of Property To Be Purchased (if known): Phone Number: Cell Phone Number: E-mail: Total Annual Household Income (must be verified with income tax returns, social security statement or pay stubs) $ How many members in your household? Please list their names, ages and relationship to applicant: Name: Age: _ Relationship: Name: Age: _ Relationship: Name: Age: _ Relationship: Name: Age: _ Relationship: Name: Age: _ Relationship: Has anyone in your household owned a residence within the past year? Yes No - 6- CERTIFICATION AND WANER OF PRIVACY: The 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 funding under the Boynton Beach Community Redevelopment Agency Housing Assistance Program, and it is true and complete to the best of the applicant(s) knowledge and belief. The applicant(s) further certifies that he/she is aware of the fact that he/she can be penalized by fine and/or imprisonment for making false statements or presenting false information. I hereby waive my rights under the privacy and confidentiality provision act, and give my consent to the Boynton Beach Community Redevelopment Agency Housing Assistance Program, its agents and contractors to examine any confidential information given herein. I further grant permission, and authorize any bank, employer or other public or private agency to disclose information deemed necessary to complete this application. Applicants acknowledge by signing below, that they have read the Housing Assistance Program Guidelines and hereby agree to the terms of the program. Applicant: Applicant: Signature Signature Print Name: Print Name: Date: Date: - 7 - ( Boynton Beach eRA ( ... (- - 8 - ~~~<iY~Te~ eRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business I I New Business Legal I Other SUBJECT: Consideration of Amendments to the CRA Residential Improvement Grant Program (RIP) Guidelines and Application for FY 2009-2010 SUMMARY: The CRA has been administering the Residential Improvement Grant Program to income eligible residents since October 2007. The purpose of the program is to assist income eligible homeowners residing within the CRA district with repair and improvement to the exterior of their property. Maximum grant awards under the RIP program are $20,000. To date, the RIP program has expended approximately $320,000 in grant funding to assist a total of 21 homeowners with exterior repairs such as new roofs, hurricane shutters, painting and stucco repair, irrigation and landscaping. As we approach a new fiscal year, staff has reviewed current program guidelines and would like to recommend the following amendments in addition to document verbiage edits (see attached): 1. Increase the maximum grant award from $20,000 to $25,000 2. Provide for the replacement of non-functioning or damaged windows with impact rated single hung windows where deemed more cost effective or appropriate than to provide hurricane shutters. 3. Provide for program application and grant approval to be administrative. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: Boynton Beach Redevelopment Plan, Heart of Boynton Plan RECOMMENDATIONS: Approval of recommended amendments and edits to the FY 2009-10 Residential Improvement Grant Program (RIP) Guidelines and Application as presented and attached. " T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 MeetinglAmendments to the RIP program.doc 13. I r t,/ I 1~~~Y~Te~ eRA Ii East Side-West Side-Seaside Renaissance 20089/200& 1L BOYNTON BEACH COMMUNITY REDEVELOPMENT AREA RESIDENTIAL IMPROVEMENT GRANT PROGRAM GUIDELINES The following guidelines are intended to define the extent and scope of the program. The purpose of the program is to assist prooram elioible property owners with the improvement the exterior elements of their existing residential property. The goals of the program are to stabilize the community, allow residents to remain in their properties, bring propertiec up to current building code, improve and upgrade the appearance of the area, and facilitate and encourage redevelopment activity in the Community Redevelopment Area throuoh neiohborhood stabilization efforts. The following guidelines and requirements are applicable to this program: 1. The program is available only for property located within the Community Redevelopment Area. See attached Map. The program is for existing single family detached residential properties. Rental or income properties are eligible if there is no outstanding City or County code enforcement or other liens on the property. Applicant must supply proof of ownership by providing a copy of the recorded warranty deed. The maximum grant amount is $20,000 $25.000 per residence. Anv and all fundino not expended under the awarded orant will be released back into the prooram. Owners of properties that are not owner occupied must provide a dollar for dollar match to the amount of CRA funds provided. Proof of the ability to match CRA funds must be submitted with the application package to be eligible for reimbursement. Owners of rental properties must sign, as part of the application process, an agreement that the Owner covenants not to increase rents on improved units more than 5% for the two year periOd following completion of the improvements and that breach of the covenant shall require the Owner to refund, on written demand by the Community Redevelopment Agency, all grant money. The Owner's lease agreements shall contain a notice provision to tenants advising the tenant of the rental rate cap. A copy of the Owner's Notice to Tenant shall be provided to the Community Redevelopment Agency. Eligible improvements items under ...faf this program include: . Roof repair or replacement . Roof soffits and fascia repair or replacement . Exterior Painting; color to be selected and sample signed off by the homeowner . Hurricane shutters or impact rated windows when determined to be more cost effective bv CRA staff. 2. 4. 5. Boynton Beach Community Redevelopment Agency Residential Improvement Grant Application Revised October 2008 . Exterior Doors; Door materials to selected from CRA approved list . Landscaping & Irrigation; limited the front yard only and a $2,500.00 maximum for 00#t landscapinQ elements. Plant materials to be selected from CRA approved plant list only. 6. All prooram eliaible improvements to be addressed are subject to CRA staff approval. CRA staff may recommend improvements not being requested by the applicant in order to meet City of Boynton Beach building code or to improve the home's appearance on the street. 7. All work must be in compliance with applicable Boynton Beach Building Codes and all contractors must be licensed in Boynton Beach and/or Palm Beach County. 8. Applicants shall not have an income greater than 120% of Palm Beach County median household income relative to family size. Applicant~ shall submit most recent year's income tax returns, W-2's, social security statements. etc. to verify income. Any person residing in the home over the age of eighteen who do not have income is not emploved, shall complete a no-income affidavit. The affidavit shall be submitted with the application. A personal net worth/asset form will also be required to be submitted. Applications shall be rejected if the stated amount of available cash exceeds 1.5 times the amount of the program's $20,000 grant limit. 9. All applicants shall submit a completed Insurance Disclaimer Form stating that they have not received any insurance funds to perform work being requested on the grant application. 11. No work to be covered by CRA grant funds may begin prior to the approval of the grant application by the CRA Board and execution of grant agreement. 12. Only applications that are complete including any and all required documentation will be considered for funding. Applicants who fail to provide documentation within four weeks of it being requested by the Agency will have their application rejected and must re-apply. 13. Any and all funding not expended under the awarded grant will be released back into the progr:lm. 14. The Residential Improvement Grant program may only be used one time in a five year period for anyone property. Property owners may re-apply for additional grants any time after five years from date of previous grant approval. 15. All applicants awarded grant funding and receive improvements under the program agree to have their home as well as themselves photographed for use by the CRA in various publications including press releases for public media 16. APPLICATION TO THIS PROGRAM IS NO GUARANTEE OF FUNDING. FUNDING IS AT THE SOLE DISCRETION OF THE CRA BOARD. I hereby affirm that I have read, understand and accept the above guidelines as set forth under the Boynton Beach Community Redevelopment Agency's Residential Improvement Grant program. Applicant Signature: Date: Boynton Beach Communi~ Redevelopment Agency Residential Improvement Grant Application Revised October 2008 Applicant Signature: Date: APPLICATION PROCESS FOR RESIDENTIAL IMPROVEMENT GRANT PROGRAM 1 . An applicant seeking a grant may secure an application from the Boynton Beach Community Redevelopment Agency, located at: 915 S. Federal Highway Boynton Beach, FL 33435 561-737-3256 Office hours Monday - Friday 830 AM to 5:30 PM. 2. Applicant shall obtain, read, and understand all aspects of the Residential Improvement Grant Program and execute the Grant Agreement. 3. One original application and unbound copies of all materials are to be submitted to CRA staff and date stamped to document receipt bv the CRA staff. returned by the 4atA of the month prior to the CRA Board meeting to the Boynton Beach Community Rede'Jelopment Agency for review and 3pprov31 by the CRA, Board. Applications must be submitted and properly time stamped to document receipt by the CRA. 4. Upon receivino all reQuired application documentation. CRA staff will administrativelv approve the orant application. Once approved. staff will notify the applicant and prepare an itemized proiect specification write-up for contractor biddino. Only prooram approved contractors may bid on the orant funded proiect. approval, 3ppropriate grant program documents_ will be prepared in the CRA office and the applicant '.NiII be notified of approval. 5. CRA funds will be paid directly to the contractor(s) providing the improvements upon completion of work. Verification and approval of completedtioo e.f work shall be conducted by CRA staff or desionee. Anv and all buildino code reQuired permit inspections shall be conducted by the City of Bovnton Beach Buildino Department. I 6. Applicant~ shall not have an outstanding City of Boynton Beach or any other lien against their property. In the event that an Applicant has an outstanding City of Boynton Beach lien against the property, the grant will not be awarded until the lien is satisfied. However, CRA funds may be used to correct code violations on owner occupied properties solely at the discretion of the CRA. 7. All applicants shall submit a completed Personal Net Worth statement which shall include a list all real estate owned. 8. All applicants shall submit a completed Insurance Disclaimer Form stating that they have not received any insurance funds to perform work being requested on the grant application. 9. All applicants awarded grant funding and receive improvements under the program agree to have their home as well as themselves photographed for use by the CRA in various publications including press releases for public media. Boynton Beach Community Redevelopment Agency Residential Improvement Grant Application Revised October 2008 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY RESIDENTIAL IMPROVEMENT GRANT PROGRAM APPLICATION Date: Applicant Information Name/s of Applicantls: Address of Applicantls: Address of Property (if rental): Phone Number: Cell Phone Number: E-mail: Total Household Income (must be verified '.\lith income tax returns) $ How many members in your household? Please list their names, ages and relationship to applicant: Name: Age: Relationship: Name: Age: Relationship: Name: Age: Relationship: Name: Age: Relationship: Name: Age: Relationship: Property Information Property Control Number: Is the Property Homesteaded? Yes No Do the applicants reside in the property to be improved? Yes No If yes, how long have you lived in the home? Boynton Beach Community Redevelopment Agency Residential Improvement Grant Application Revised October 2008 Is the property a rental? Yes No If yes, is it currently occupied? Yes _ No_ How many rental units are on the property? Are there code violations on the property? Yes _ No What improvements are you requesting to make to the residence? Please list all. CERTIFICATION AND WAIVER OF PRIVACY: The 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 Residential Improvement Program, and it is true and complete to the best of the applicant(s) knowledge and belief. The applicant(s) further certifies that he/she is aware of the fact that he/she can be penalized by fine and/or imprisonment for making false statements or presenting false information. I hereby waive my rights under the privacy and confidentiality provision act, and give my consent to the Boynton Beach Community Redevelopment Agency Housing Assistance Program, its agents and contractors to examine any confidential information given herein. I further grant permission, and authorize any bank, employer or other public or private agency to disclose information deemed necessary to complete this application. COVENANT AND AGREEMENT TO REPAY GRANT (Rental Properties Only) Owner covenants and agrees that thev will not to increase rents on improved units more than 5% for the two year period following completion of the improvements and that breach of this covenant and agreement shall require the Owner to refund, on written demand by the Community Redevelopment Agency, all grant money. The Owner's lease agreements shall contain a notice provision to tenants advising the tenant of the rental rate cap. A copy of the Owner's Notice to Tenant shall be provided to the Community Redevelopment Agency. Applicant: Applicant: Signature Signature Print Name: Print Name: Date: Date: Boynton Beach Community Redevelopment Agency Residential Improvement Grant Application Revised October 2008 11. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Required Documentation Needed to Process Application: Signed and completed Residential Improvement Grant program Application~ Guidelines. Copy of recorded warranty deed. Copy of proof of current year tax bill. Copy of homeowners insurance declaration pages (wind, liability, etc.) if applicable. Completed Insurance Benefit Disclaimer (if applicable). Proof of income eligibility: copy of the most recent year's tax return, social security earning statement (if applicable), one month's pay stubs, for all persons over the age of eighteen (18) adults living in the residence. Any person over 18 years of age who is not earning income shall execute a statement of no-income form. If property is a rental, a copy of the last 2 years tax returns of owner. Copy of code violation notices, if applicable. Photos of residence and areas of the home to be improved. Copies of all current leases if property is a rental. Proof of financial ability to complete project (rental only). Bank statements, line of credit, etc are acceptable forms of proof. Applicantls shall submit a net worth statement for all owners and a list of all properties owned by all applicants. Boynton Beach Community Redevelopment Agency Residential Improvement Grant Application Revised October 2008 Boynton Beach eRA ) ) ) Residential Improvement Grant Application Revised October 2008 ~~~~Y~Te~ C . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: Consideration of Amendments to the CRA Commercial Fayade Improvement Grant Program Guidelines and Application for FY 2009-2010 SUMMARY: The CRA has been administering the Commercial Fayade Improvement Grant Program to eligible businesses since October 2005. The purpose of the program is to encourage commercial property owners to upgrade the exterior appearance of their properties thereby improving the overall appearance of the CRA district commercial corridors. Currently, maximum grant awards under the Commercial Fayade Improvement Grant Program are $15,000. To date, the Commercial Fayade program has expended $204,000 in grant funding to assist a total of 18 commercial property owners with exterior fayade projects such as painting, awnings, signage, exterior lighting, irrigation and landscaping. As we approach a new fiscal year, staff has reviewed current program guidelines and would like to recommend the following amendments in addition to document verbiage edits (see attached): 1. Change program name from Commercial Fayade Improvement Grant to Commercial Improvement Grant 2. Allow exterior decorative elements such as shutters as a program eligible item. 3. Allow interior tenant improvements/build-out (excluding equipment and furnishings) as a program eligible item. 4. Allow a property owner with multiple properties to be limited to two grant awards per year. Currently the program only allows for one award per year. 5. Provide for program application and grant approval to be administrative. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: Boynton Beach Redevelopment Plan, Heart of Boynton Plan, Federal Highway Corridor Plan RECOMMENDATIONS: Approval of recommended amendments and edits to the FY 2009-10 Commercial Improvement Grant Program Guidelines and Application as presented and attached. 't'~~:- Mic ael Simon, Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Amendments to the Commerciallmprvmnt program.doc 20089/200910 COMMERCIAL FACADE IMPROVEMENT GRANT PROGRAM APPLICATION FORM Boynton Beach Community Redevelopment Agency Maximum Grant Amount is $15,000 (Please Print Or Type Only - Use Additional Sheets If Necessary) APPLICANT INFROMA TION Name of Property Owner: Address of Property Owner: City/State: Zip Code: Phone # Day: Evening: Legal owners and legal description of the property to be improved (please attach copy of warranty deed and lease, if applicable): If Different from Property Owner Name of Business: Address of Business: City/State: Zip Code: Phone # Day: Evening: Type of Business: Years of Operation: Number of Employees: Annual Payroll: Number of Employees residing in Boynton Beach: PROGRAM GUIDELINES The following guidelines are intended to inform a potential grant applicant of the extent and scope of the program. The purpose of the program is to encourage commercial property owners to upgrade their properties by improving the external appearance of their business and to encourage businesses to invest in their operations. The result will halt deterioration, stabilize property values, improve and upgrade appearance of the area, and facilitate and encourage redevelopment activity in the target area. The following guidelines are applicable to this program: 1. The program is available only for property located within the Community Revitalization Areas of the Boynton Beach Community Redevelopment Agency (CRA). Note: See attached Fayade Grant Area Map. 2. The program is for commercial properties and businesses. The property owner must be the applicant. However, if the property is currently leased to a tenant, then the Application and Agreement must be jointly executed by both the owner and the tenant. I 3. Eligible exterior improvements for this program include: . Painting . Shutters . Signage (located on the building or the property) . Awnings/canopies . Decorative exterior facade improvements . Doors/windows . Landscaping around the building . Irrigation . Parking lot re-paving, re-sealing, re-striping . Exterior Lighting . Patio or decks connected to the building . Exterior wall repairs (e.g. stucco, brick or wood repairs and replacement) . ADA improvements . Interior Tenant build-out (excludina equipment and furnishinas) 4. All work must be in compliance with applicable Boynton Beach Building Codes and all contractors must be licensed in Boynton Beach/Palm Beach County. If the Applicant(s), installs enhanced landscaping and or . 2 signage it must be in accordance with City Ordinance No. 98-43. 5. Maximum Grant amounts: The CRA will provide, on a reimbursement basis, a dollar for dollar matching grant for eligible fayade improvements up to a total of fifteen thousand dollars ($15,000) of CRA funds. Example: Total proiect cost~. $18,000.00 Applicant funds expended: $18,000.00 CRA reimbursement $ 9,000.00 6. The Fayade Grant program will honor expenditures completed up to 90 days prior to application, improvements underway and proposed improvements. 7. The Fayade Grant program may only be used one time in any three year period for anyone property. Properties may re-apply for additional grants any time after three (3) years from previous grant approval. Project phasing of up to two years can be requested. Property owners may receive grants for multiple property locations. Applicants with multiple properties shall be limited to eRe two :-QrantE. per CRA budget year (October 1st to September 30th). 8. The scope of work that is to be paid for with CRA funds for must be completed no later than 120 days from the approval of the grant by the CRA Board. 9. Disbursement of grant funds shall only occur if the following conditions are met: a. b. CRA has received copies of executed contracts, canceled checks (front and back) and proof that the work has been approved by the City Building Department (if applicable). CRA has received copies of final "paid in full" vendor/contractor invoices. CRA has received copies of final inspection approvals for all permit required work. Entire scope of work is completed. Applicant provides "After" photos. c. c. d. 3 APPLlCA liON PROCESS 1. An applicant seeking a project grant may secure an application from the Boynton Beach Community Redevelopment Agency (CRA) located at 915 S. Federal Highway, Boynton Beach. 561-737-3256. I 2. An original application and eight (8) copies with-ef all materials aFe~ to be returned to the Boynton Beach Community Redevelopment Agency for review and approval by the CRA Board. Applications will be considered on a first-come, first served basis. Applicants must take the necessary steps to insure that their submitted application is properly time stamped to document receipt by the CRA. 3. Upon Qrant approval, appropriate grant program documents will be prepared ffi the CRt. Attorney's office and the applicant will be notified of approval by return reQular -mail. 4. The CRA will administer the commercial exterior facade program. In addition to the appropriate City inspections, the CRA will inspect the work to determine satisfactory completion of the work. 5. Applicants may not have any outstanding City of Boynton Beach liens against their property. In the event that an Applicant has an outstanding City of Boynton Beach lien against the property, the grant will not be awarded until the complete satisfaction of the lien. 6. Applicant shall obtain, read and understand all aspects of the Fac;ade Grant Program Agreement, including Program and Reimbursement Regulations. 7. Application to this Program is no guarantee of funding. Funding is at the sole discretion of the CRA Board. 4 PROJECT INFORMATION Describe improvements to be done to the property. Attach the following items: . Project work write-up(s) describing in detail the scope of the project, . Plans or sketches if applicable, . Site plan and plant list for landscape projects, . Third-party cost estimates from three (3) licensed contractors, . Estimated time line, . Evidence of financial ability to pay for the project (approved loan, cash account, line of credit, etc.), . A minimum of four (4) 3" x 5" color "before" photos of the project which must include "public views", . Signage design with colors & materials proposed if applicable, . Project color chips / material samples if applicable, . And material specifications. Applicable documents must be attached for the Application to be processed. By signing this Application, I acknowledge that I have received and read a copy of the Program Agreement, and I understand and agree to comply with its content. Witness (Date) Property Owner (Date) (Property owner's signature must be notarized) Witness (Date) Tenant/Business Owner (Date) CRA Director (Date) STATE OF FLORIDA, COUNTY OF PALM BEACH 5 BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgements, personally appeared , who is personally known to me or produced as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this day of , 200_. NOTARY PUBLIC My Commission Expires: 6 ~~~~Y~Te~CRA . East Side-West Side-Seaside Rena'lssance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: HOB Strategies - Alley Abandonment SUMMARY: The Community Committee suggested that the alleys within the Heart of Boynton neighborhood be abandoned to the adjacent property owners and closed to prevent access. However, further investigation with the Utilities Dept. revealed that located within the alleys were manholes providing access to the sewer and water lines. The Utilities Dept. needs to maintain access to the manholes in the event they need to have a vacuum truck remove blockages. Therefore, abandoning the alleys would not be physically possible. The line item amount in the HOB Strategies matrix for this project was $85,000 to cover legal fees, engineering and construction of the closures. This funding could be allocated to another project within HOB. Attachments: 1. HOB Strategies 2. Alley Locations 3. Water/Sewer Manhole Locations FISCAL IMPACT: None. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS/OPTIONS: 1. Move the funding to another line item within the HOB Strategies list. 2. Do nothing. ci!c~~ Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\HOB Alley.doc Heart of Boynton Strategies - Community Committee Recommendation May-09 Qualitv of Life Issues 1 Nuisance Properties Acquisiton Legal Fees Demolition 2 Code Enforcement/Issue Hotline 3 Trash Pick-up 4 CRA Policing 5 CPTED Lighting - Sara Sims Close NW 9th 6 Alley/Easement Abandonment Legal Fees City Engineer Fees Closures TOTAL NUISANCE ABATEMENT Economic Development Grants (2 @ $20,000 1 Improve Interior/Exterior of Businesses ea.) 2 Technical Assistance Classes Site Planning/Conceptual 3 Micro Loan Fund TOTAL ECONOMIC DEVELOPMENT Housing Development and Rehabilitation 1 Reissue RFP for Ocean Breeze East Legal Review/Advertisin! $ 2 Residential Improvement Grant Program (7 @ $20,000) TOTAL HOUSING/REHABILITATION Phase I MLK $ $ $ $ $ $ 40,000 20,000 50,000 70,000 100,000 210,000 I 1,000 $ $ 140,000 141,QOO I Legal Fees to Combine 1 Property Ownership CRA/City Property $ 5,000 2 Property Acquisition $ 250,000 Site Plan/Feasability 3 Grocery Co-op Analysis $ 10,000 TOTAL PHASE J MLK $ 265,000 I TOTAL $ 1,616,000 I , "' , ~ , ~ /'1 Z. 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'. , 'I" \ .. cr .. \..", ,- ft - , ; I , ~ ~. ~i /' .... t .i ~~~<tY~T2~ C Ii East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: HOB Strategies - Consideration of Issuing an RFP for the Development of a Small Business Development Program SUMMARY: The Community Committee made a recommendation to provide small business services and training within the community. At the May 2009 meeting, the Board directed staff to research if such services were available at no charge. Attached is a spreadsheet of staff's fmdings. At this point in time there is no free comprehensive small business training courses. There are free events on marketing and networking at the Chamber throughout the year. SCORE does provide some free services, but not on site. If the Board desires to create a program that would contain all the elements that most small businesses need; business plan writing, tax, legal, etc., then it would have to be done through a vendor. If that is the direction of the Board, staff has prepared a Request for Proposal for that purpose (see attached). FISCAL IMP ACT: Up to $30,000 annually from the HOB Strategies budget. CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan, Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: In order to get a comprehensive program with accountability and ~& issuing the attachedRFP. Vivian L. Brooks Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\HOB - Small Business Development.doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 12, 2009 would be evenly split between the abutting property owners, thereby expanding their properties The land would be added to the tax rolls, and the homeowner would be responsible for maintaining the property. The property owner would not have to consent to the abandonment. Funds would be allocated for legal expenses and reimbursement of the City staff and Engineer's time. The City Commission would be required to pass an Ordinance to abandon the alleyways, and then it would become automatic since the alleyway would no longer serve a public purpose. The Community Committee also indicated the residents had no objection to assuming the additional tax burden. Existing utility easements would remain. Staff indicated it would be a fairly simple way to fix a longstanding community problem. Creating a Code Enforcement/Crime Hotline for the Heart of Boynton so residents could report trash and improper activities was suggested. Staff could then alert the Police to the calls they receive and determine where the "hot" zones were. Staff also proposed to add a line item for trash removal on all sites, not just on Community Redevelopment Agency property. Trash is often dumped, and since the owner does not live there, it could remain for a month or more. In this manner, the trash could be addressed expeditiously. Community Policing through Environmental Design was discussed. One way to use the concept was to install lighting in problem areas, such as the Jesus House of Worship Church. Installing lighting at Sara Sims Park was suggested, as was continuing with the Community Redevelopment Agency Policing program. The community felt crime was reduced. The residents felt economic development in the area was needed and requested assistance be given to upgrade the exterior of businesses along MLK Boulevard. Currently, there are two existing businesses there and funds for two Fayade Grants were set aside for them. They also requested technical assistance be provided to business and property owners to help them envision what could be done with their properties. Holding classes at the Carolyn Sims Center on the weekends or evenings for individuals interested in starting a business or improving existing businesses and properties was suggested. Staff would set aside funds and issue an RFP for the classes as there were several providers that could be utilized such as the Workforce Alliance and SCORE. The Chamber of Commerce offeted tax assistance and Small Business Development assistance was available. SBA was a minority business administration that could offer a~sistance. Intermediaries of SBA offered training - some fr~e and others with a Cbst. Staff explained it would take a while to identify what the needs of the clients were. Mr. Rodriguez recommended using agencies that prQvidedfree services before spending tax dollars. Ms. Bright agreed. Many individuals were interested in starting up small businesses. The community thought providing start-up monies to purchase equipment for businesses in the Heart of Boynton would be helpful. The Community Redevelopment Agency could partner with the Community Loan Fund and deposit monies earmarked for Community Redevelopment Agency businesses. The Community Loan Fund was comprised of banks having funds in the program. It is partially funded by the County, the Small Business Administration and the bank members. A Board manages the program and determines which businesses would be funded. Ms. Brooks clarified the Community Redevelopment Agency is not in the lending business. 6 Small Business Development Program Spreadsheet Organization Contact Person Email Phone Services Provided SBA-Small Business SBA does not conduct training programs. They use Assistance Tonya Johnson tiohnson@obcaove.ora 616-6840 SBDC. Training is done at PBCC, F AU and Chamber of SBDC-Small Business Commerce of the Palm Beaches, not on site. Their Development Cente Jacie Keeley, Director keelevi@obcc.edu 561-862-4725 funding is in jeopardy. Criteria requested is beyond the scope of the WPBSCORE. They have a limited number of counselors and time which usually spend one morning a week to meet wI entrepreneurs. They would be willing to conduct a single lecture wI power point SCORE-West Palm presentation (approx. 1-1 1/2 hrs.) on one or two Beach Chapter Ron Castleman ron@thecastlemans.com 561-833-1672 topics. SCORE-Boca Raton Would be very interested in bringing these classes and Chapter Phil WWN.scoresouthflorida.net 981-5391 seminars to Boynton Beach. Would charge for classes. They do not have the funds to sponsor a program off Workforce Alliance Joyce Fischer WWN.obcalliance.com 853-0181 site. The programs offered are geared to employees. GlennJ@boyntonbeach. The Chamber offers at their site classes on sales tax, Chamber of Commerce Glenn Jergensen org 732-9501 marketing and networking to paid members. REQUEST FOR PROPOSALS DEVELOPMENT, IMPLEMENTATION AND MANAGEMENT OF A SMALL BUSINESS DEVELOPMENT PROGRAM BOYNTON BEACH COMMUNITY REDEVLEOPMENT AGENCY July 15,2009 I. BACKGROUND The Boynton Beach Community Redevelopment Agency (CRA) is seeking proposals from Consultants to develop, implement and manage a small business development program (Program). The CRA is charged under State Statute 163 with the redevelopment of the area depicted on the attached map. As part of the CRA's redevelopment efforts, the CRA adopted an Economic Development Plan (available on the CRA's website, www.bovntonbeachcra.com. The CRA now seeks to implement the Economic Development Plan through the development of a Small Business Development Program. II. SCOPE OF WORK The CRA is seeking a qualified consultant/entity to develop, implement and manage a small business development program that will provide education and technical assistance to new and existing small businesses within the CRA. Consultant is to provide sufficient qualified staff, speakers and equipment, including laptops for program participants, for the following activities: 1. Marketing of the Program 2. Quarterly classes on Business Start-Up Orientation 3. Quarterly classes on the following: a. Basic Accounting b. Business Plan Creation c. Marketing and Promotion d. Business Technology e. Loans and Capital f. Business Law Basics g. SBE and MBE Certification Process 4. One-on-One consultations with business owners on an hourly basis. 5. Quarterly reports on the activities conducted and outcomes. 6. Classes must be held during the evenings or weekends. Page 1 of8 T:\ECONOMIC DEVELOPMENlISmall Business Development Program\RFP-RFQ Small Business Program. doc All classes will be held at a location within the CRA district to be chosen and paid for by the CRA. All other costs of the program will be borne by the Consultant. Focus should be on producing tangible outcomes such as the number of persons assisted, the number of persons graduating from the program, number of persons obtaining private capital and the number of new businesses started or existing business expansions. III. SCHEDULE The CRA is seeking to begin the activity by October 1,2009. Proposals must be submitted to the CRA in person at the address below no later than 3 :00 p.m., August 24, 2009. IV. RFP REQUIREMENTS Proposals should demonstrate a proven track record of working with new and existing businesses. Experience with Small Business Administration lending policies, SBE/MBE qualification process, business laws, marketing and knowledge of current business technology should be demonstrated by proposer. Responses to this RFP shall include the information listed below. The information must be presented in the order indicated. 1. Consultant Name: Business name, fictitious name (if applicable) and principal contact person, including office location, address, telephone number, fax number and e-mail address. 2. Consultant History and Types of Services Offered: Briefly describe the history of the firm, including but not limited to, the name of firm owners, number of years in business and range of services offered. 3. Consultant Team Organization: Describe Consultant's proposed team organization and staffing plan indicating the role and responsibility of each team member and sub-consultant (if applicable) through all phases of work. Clearly indicate the individual who will have overall responsibility for Consultant's services and how Consultant proposes that person will interface with the CRA' s staff. Indentify the office location of each team member and specific relevant experience. If sub-contractor(s) is proposed, indicate whether the sub-contractor(s) has worked with Consultant on comparable projects in the past. Enclose brief resumes of each key team member consultant proposes to assign to this project as an exhibit to your Statement of Qualifications. Page 2 of8 T:\ECONOMlC DEVELOPMENnSmaIl Business Development Program\RFP-RFQ Small Business Program. doc 4. Consultant's Local Experience: Describe Consultant's experience and the experience of any sub-consultants, if any, with projects managed by the firm or individual studies for a comparable project. 5. Certificate of Insurance: CRA requires that all firms contracting for services file a certificate of insurance prior to the execution of the contract agreement. Insurance coverage includes full workers' compensation insurance, employers' liability coverage, comprehensive auto and general liability insurance for no less that $1,000,000 and professional liability insurance covering errors and omissions for no less than $2,000,000 with a provision for no more than $100,000 deductible (see discussion of "Boynton Beach Community Redevelopment Agency Standard Contract). 6. Business License: CRA requires a Business license of all Consultants including sub-consultants. 7. Professional References: Please provide a minimum of three professional references that the CRA can contact for which Consultant has provided comparable services within the past five years for a similar scope of work. 8. Fee Estimate/Cost Proposal: Provide the proposed fee estimate/cost proposal on an annual basis. Include your Standard Hourly Fees to provide one-on-one consulting to business owners for the services described in this RFP. v. PROCEDURES FOR SUBMISSION Interested individuals and/or firms are invited to submit, by hand delivery, twelve (12) copies of their proposal, prior to 3:00 PM, August 24, 2009: Boynton Beach Community Redevelopment Agency Attention: Lisa A. Bright, Executive Director 915 S. Federal Highway Boynton Beach, FL 33435 561-737-3256 SUBMISSIONS WILL NOT BE ACCEPTED AFTER TIDS DEADLINE. SUBMISSIONS TRANSMITED BY FAX OR E-MAIL WILL NOT BE ACCEPTED UNDER ANY CIRCUMSTANCES. All material submitted in accordance with this RFP becomes property of the CRA and will not be returned. Page 3 of8 T:\ECONOMIC DEVELOPMENT\Small Business Development Program\RFP-RFQ Small Business Program. doc VI. REVIEW AND SELECTION CRITERIA The members of the evaluation committee will individually evaluate the materials provided in response to the Request for Proposal and will score each response based on the criteria listed below. The evaluations will be presented at the September 8, 2009 CRA Board meeting. The Board may select one proposer to negotiate a contract for the development, implementation and management of a Small Business Program. 1. Understanding of the scope of work and the overall project goals including Consultant's strategy for carrying out the required work tasks to meet the project goals. 2. Past experience and performance of Consultant on similar projects related quality of work, meeting project schedules, ability to manage, and errors and omissions control. 3. Consultant's expertise and ability to successfully communicate with project developers and clients. 4. The present workload of Consultant personnel (and any sub-consultants) that are proposed to be assigned to the project, availability of staff and ability to meet the project task schedule. 5. Familiarity with applicable practices, procedures and industry standards for the type of work involved. 6. Familiarity with the various applicable regulatory agencies' requirements and procedures for the types of work involved. 7. Conformance to the specified RFP/RFP format. 8. Clarity of presentation and conciseness of content of the Statement of Qualifications. 9. Specialized experience and technical competence of the firm and sub- consultants (including individuals in the firm assigned to the project), considering the types of services required and the complexity of the project. 10. Record of performance, including results of reference checks. 11. Proposed plan for completing the work in a timely and professional manner. Page 4 of8 T:\ECONOMIC DEVELOPMEN1\SmaIl Business Development Program\RFP-RFQ SmaIl Business Program. doc 12. Proposals are to be ranked on the basis of Qualifications and the fee schedule. 13. Ability of proposer to complete the Scope of Work, including a written report of the findings within a three month period beginning upon the issuance ofthe Notice to Proceed. No proposer will be allowed to modify the content of proposal at any time after the submission deadline. VII. ACCEPTANCE OR REJECTIONS OF STATEMENT OF QUALIFICAITON The CRA reserves the right to accept or reject any non responsive Proposal or to reject all Proposals received as a result ofthis request. CRA also reserves the right to waive any informality, technical defect or clerical error or irregularity in any Statement of Qualifications. Additionally, CRA may, for any reason, decide not to award an agreement as a result of this RFP. CRA reserves the right to cancel this RFP. CRA shall not be obligated to respond to any responses submitted, nor be legally bound in any manner by the submission of the Statement of Qualifications. CRA reserves the right to negotiate project deliverables and associated costs. VIII. ADDENDA AND INTERPRETATION CRA shall not be responsible for nor be bound by any oral instructions or interpretation or explanations issued by CRA or its representatives. Should discrepancies or omissions be found in this RFP or should there be a need to clarify the RFP, you may request clarification via e-mail tobrightl@ci.bovnton-beach.f1.us or in writing to: Lisa A. Bright Executive Director Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33435 Such requests for clarification shall be received by CRA at least five (5) business days prior to the due date for response. Any CRA response to a request for clarification will be made in the form of an addendum to this RFP and will be sent to all parties to whom this RFP has been issued prior to the due date. All addenda shall become part of this RFP and receipt of each addendum shall be acknowledged and signed in the format submitted by CRA and attached as an exhibit to your proposal. Page 5 of8 T:\ECONOMIC DEVELOPMENT\Small Business Development Program\RFP-RFQ Small Business Program. doc IX. GENERAL DESCRIPTON OF PROPOSED AGREEMENT Upon conclusion ofthe RFP process, the CRA Executive Director will recommend to the CRA Board a Consultant to enter into negotiations for the assignments described. The recommended Consultant shall enter into contract negotiations with CRA in substantial conformity with the selected Statement of Qualifications and the form of the CRA's Standard Consultant Agreement. X. INSURANCE REQUIREMENTS The selected Consultant, at Consultant's sole cost and expense and for the full term of the Agreement or any extension thereof, shall obtain and maintain at least all of the insurance requirements outlined in the CRA's Standard Consultant Agreement. All policies, endorsements, certificates, and/or binders shall be subject to approval by the CRA as to form and content. The selected Consultant agrees to provide CRA with a copy of said policies, certificates and/or endorsements. The selected Consultant shall satisfy these insurance requirements prior to approval of the Agreement. Please address any issues with respect to insurance requirements in your response to the proposal. XI. EXAMINATION OF PROPOSED MATERIAL The submission of a Statement of Qualifications responding to this RFP shall be deemed a representation and certification by the Consultant that Consultant has investigated all aspects of the RFP, is aware of the applicable facts pertaining to the RFP process, its procedures and requirements, and has read and understood the RFP. No request for modification of a Statement of Qualifications shall be considered after its submission on grounds that the Consultant was not fully informed as to any facts or condition. XII. PUBLIC NATURE OF PROPOSAL MATERIAL Responses to this RFP become the exclusive property of CRA. All responses to the RFP received become a matter of public record and shall be regarded as public records. XIII. DISQUALIFICATIONS Factors such as, but not limited to, any of the following may be considered just cause to disqualify a response to the RFP without further consideration: A. Evidence of collusion, directly or indirectly, among Consultants in regard to the amount, terms or conditions of this proposal; B. Any attempt to improperly influence any member of the selection staff; Page 60f8 T:\ECONOMIC DEVELOPMEN1\Small Business Development Program\RFP-RFQ Small Business Program. doc C. Existence of any lawsuit, unresolved contractual claim or dispute between Consultant and the CRA; D. Evidence of incorrect information submitted as part of the Statement of Qualifications; E. Evidence of Consultant's inability to successfully complete the responsibilities and obligations of the proposed scope of work; or XlV. NON-CONFORMING STATEMENT OF QUALIFICATIONS A Statement of Qualifications shall be prepared and submitted in accordance with the provision of these RFP instructions. Any alteration, omission, addition, variance, or limitation of form or to the RFP may be sufficient grounds for non-acceptance of the response, at the sole discretion of CRA. xv. PROIDBITION OF GIFTS eRA officials are subject to several legal and policy limitations regarding receipt of gifts from persons, firms, or corporations either engaging in business with CRA, or proposing to do business with CRA. The offering of any illegal gift shall be grounds to disqualify a Consultant. To avoid even the appearance of impropriety, Consultants should not offer any gifts or souvenirs, even of minimal value, to CRA officers or employees. The Consultant shall be subject to this prohibition. XVI. ADDITIONAL TERMS AND CONDITIONS A. It is anticipated that the award of the Agreement resulting from the RFP shall include terms and conditions similar to those referenced in the CRA's Standard Consultant Agreement. Exceptions proposed by the Consultant, if any, to the terms and conditions included in the Standard Consultant Agreement should be included in the response. CRA reserves the right to consider any proposal exceptions during its evaluation of the acceptability of a response. B. This RFP does not commit CRA to pay any costs incurred in the submission of a Statement of Qualifications or in making any necessary studies or analysis in preparation of submission of the Statement of Qualifications. C. CRA reserves the right without limitation to: 1. Execute an agreement with one or more Consultants based solely on the Statement of Qualifications and any approved additions; Page 70f8 T:\ECONOMIC DEVELOPMENT\Small Business Development Program\RFP-RFQ Small Business Program. doc 2. Enter into an agreement with another Consultant in the event that the originally selected Consultant defaults or fails to execute an agreement with CRA; 3. Enter into negotiations with one or more Consultant; 4. Modify and re-issue the RFP; or 5. Take action regarding the RFP as may be deemed to be in the best interest of CRA. D. CRA reserves the right to contact third parties and to research accessible documents or data bases to verify any information provided during the RFP process. CRA may contact references listed or any other person known to have contracted with Consultant. E. An agreement shall not be binding or valid with CRA unless and until it is executed by authorized representatives of the CRA and of the Consultant. Attachments to RFP The following Exhibits are included as part ofthe RFP: Exhibit 1: CRA Map Page 80f8 T:\ECONOMICDEVELOPMENT\Small Business Development Program\RFP-RFQ Small Business Program.doc ,. Boynton Beach eRA 1\ [L ~ jF3 ~(~~:r~ ~r ~ ~ Ii{ \ \\ifY1( ~Ik I I S~~~1i. ~ ..". \ __ J~ID:A%l!\\'lt\ ~~-~. :1 -- ...... If 1\ ';~ >:,noLYll'!=8:: \~F-'---~j~->--3~' ~rr !I!l',\~~ L ".:: 'jl """", II ~ -:1J- ~ -1/ 1i ~ :::: ... Po......... I \L-- , IcJl"""' \\ \J ~"- - ::- ,~ -n '" ~ r<--l - \ r~ l&~ - -~ ') ;i., - .. "'~"'-I.~ j;__ ~ -k ~ J ~"'1'i- r;;- ... I --- ,n-" I""'. ,\; ~~ ,-,,-'"'-' - .. ~ _, e',\ ~ er;;> '7:- " - ~1t J \t: - ""~.. tiJ ~ ... ':J-~I =9 ~~ ... :I' ' ~ ' I ) ,r>-o'~''''' <:' ,:>- -'1..::;\:/;"-1 --'- ~ rT l -rl\\~\l I.~ "'-'l I /- -- 1"'\ '--'""'- ;! ~'~ --- ,~ - tJ;:.7.,~~ 1\ ~ ..;; ~ ."'1.-- j ~ ~ '~~(r'}~~' I ~ I~ I=~ ~~j~ Iff. ~l ~ ~ / \\~~CD I.r:~' '~~ 11 If""" '- '"~" _.::' 14 '1: ~ (a~ t<1 i (L>"- ,II ~R't'\ q \h~ t " ~ ~~~<tY~T8~CRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal I Other SUBJECT: HOB Strategies - Consideration of Hiring a Project Manager for HOB Strategies SUMMARY: Funding has been freed up in the HOB Strategies budget due to the inability to close the alleys within the Heart of Boynton. The amount of available funding is $85,000. The Community Committee has been suggesting that the CRA hire a project manager for HOB projects. The availability of the funds could make that possible. The potential job description is attached. Based on research the salary range would be between $35,000 - 50,000 plus benefits. FISCAL IMPACT: To be determined. Source of funds would be the HOB Strategies. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS/OPTIONS: 1. Do not approve adding the position of Project Manager. 2. Approve adding the position of Project Manager. ~~ Vivian L. Brooks Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\HOB Project mgr.doc I Heart of Boynton Strategies - Community Committee Recommendations May-OS Qualitv of Life Issues 1 Nuisance Properties Acquisiton $ 800,000 Legal Fees $ 50,000 Demolition $ 20,000 $ 870,000 2 Code Enforcement/Issue Hotline $ 5,000 3 Trash Pick-up $ 25,000 4 CRA Policing $ (500,000) 5 CPTED Lighting - Sara Sims $ 10,000 Close NW 9th $ 5,000 $ 15,000 6 Alley/Easement Abandonment Legal Fees $ 10,000 City Engineer Fees $ 15,000 Closures $ 60,000 $ 85;'000 I TOTAL QUALITY OF LIFE EFFORTS $ 1,000,000 .. Economic DeveloDment Grants (2 @ $20,000 1 Improve Interior/Exterior of Businesses ea.) $ 40,000 2 Technical Assistance Classes $ 20,000 Site Planning/Conceptual $ 50,000 $ 70,000 3 Micro Loan Fund $ 100,000 r TOTAL ECONOMIC DEVELOPMENT $ 210,000 Housina Develooment and Rehabilitation 1 Reissue RFP for Ocean Breeze East Legal Review/Advertisin! $ 1,000 2 Residential Improvement Grant Program (7 @ $20,000) $ 140,000 I TOTAL HOUSING/REHABILlT A TION $ 141,000 Phase I MLK Legal Fees to Combine 1 Property Ownership CRA/City Property $ 5,000 2 Property Acquisition $ 250,000 3 Grocery Co-op Site Plan/Feasability An< $ 10,000 r TOTAL PHASE I MLK $ 265,000 I TOTAL $ 1,616,000 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (CRA) JOB DESCRIPTION TITLE: PROJECT MANAGER REPORTS TO: ASSIST ANT DIRECTOR GENERAL STATEMENT OF DUTIES: The role of the person in this job classification is to perform responsible public contact work in implementing the CRA Boards programs and policies. The general overall responsibility of this position will be to implement and manage the Heart of Boynton Strategy Plan as adopted by the CRA. The following is a general description of duties. The Executive Director may assign other duties and responsibilities as needed. Updated: 07/14/2009 ESSENTIAL FUNCTIONS: · Provide information to the public and board regarding CRA Plans and Programs. · Conduct research on property for possible acquisition, including but not limited to arranging for appraisals and title searches. · Attend meetings, including evening meetings, and interfaces with community groups to obtain input and consensus on projects and programs. · Maintain records and notes of community meetings and reports the findings to the Assistant Director. · Draft board agenda items for Assistant Directors review and approval. · Create PowerPoint presentations for community and board meetings. · Seek, negotiate, and acquire fee simple and/or easements interest in real property. · Analyze price proposals, financial reports and other data to determine reasonableness of prices. · Research and prepares documentation in support of agenda items brought to the Board of Directors. . Interface with CRA police team, code compliance officers, public works department, etc. in order to solve issues of concern to the community, including crime, blight, etc. Page Two/Project Manager Job Description · Work with affordable housing developers and non-profits to develop new affordable housing opportunities within the community. . Administer and Market the CRA housing programs. . Interface with CRA, City, County and Consultants on business development opportunities such as grants, loans and/or programs available. . Working knowledge of the affordable housing industry. . Collaborate with the City and County employees. . Collect, compiles and analyzes real estate and demographic data to determine policy direction for CRA initiatives. KNOWLEDGE. SKILLS AND ABILITIES: . Knowledge of real property legal principles, real estate acquisition and closing property. . Knowledge and understanding of the Florida Statutes relative to real property matters. . Ability to interpret engineering and construction drawings, diagrams, and appraisals. . Negotiating and writing skills, including the ability to write and maintain reports, business correspondence, and manuals. . Good written and oral communication skills and quantitative skills. . Ability to ascertain priorities and meet deadlines and objectives. . Ability to make recommendations and to use resourcefulness and tact in solving problems. . Ability to establish and maintain effective working relationships. . Knowledge of Excel, PowerPoint and Outlook. Page Three/Project Manager Job Description MINIMUM QUALIFICATIONS: Bachelors Degree in the field of Urban & Regional Planning, Architecture, or Business Administration. Prior work experience in government, real estate or finance is desirable. Valid Florida Driver's License. eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: HOB Strategies - Consideration of Purchasing Vacant Lot on NE 4th Street SUMMARY: · At the May 2009, CRA meeting, the Board directed staff to pursue the potential purchase of vacant parcels owned by the Boynton Beach Faith-based Community Development Corp. (CDC) on NE 4th Street. · The lender on the property, Local Initiatives Support Corp. (LISe) appraised the property for a potential short sale. The appraisal is attached. · The market value of the property is $300,000. The CDC paid $470,000 for the property in 2007 and the outstanding loan amount is $533,220. · The CRA owns a large portion of the block (see attached map). This opportunity buy could help to support the future redevelopment of this block. . LISC would like to sell the property for $330,000. FISCAL IMPACT: The funding, if approved, would come from the HOB Strategies line item. CRA PLAN, PROGRAM OR PROJECT: The Heart of Boynton Community Redevelopment Plan, Downtown Master Plan RECOMMENDATIONS/OPTIONS: 1. Do not purchase the land. 2. Purchase the land at appraised value of $300,000. 3. ur e the land at the asking price of$330,000. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\HOB - CDC Lot on 4th.doc Palm Beach County Property Appraiser Proper!\ Search Svstem Page ,.f .,t~~ ,l~~~ '~";;;~"I::;;:-> lr~"W ( _ .'(~j';I1;:t" ...'~!o.pert'!l Appraiser's PuHi" .n " . , ~ ~ ';1 ~ ,#; ( : ~ ~;-:, .. -: ."'\ "' ~.. ~ t.,. .' ~ Fu ~;t r j 1~, t ~,;. I..: t r,( . " t:_u. "'.;J;~'+:';;:' Uj:;- ~~'" .. ..'. x "-,. . 'I fj,_"~tl~i~Jr~"f@;r:.ifM~~::~,..},: ___._~~",.foili"""""". r Property Information I Location Address: NE 4TH AVE I I I Municipality: BOYNTON BEACH \li~lN M'i'P Calculate ___. Portab;lfo/. Parcel Control Number: 08-43-45-21-29-003-0020 Subdivision: SHEPARD ADD TO TOWN OF BOYNTON IN Official Records Book: 21978 Page: 1771 Sale Date: Jan-2007 Legal [)escriptiol1: SHEPARD ADD L T 2 BLK 3 Owner Information Name: BOYNTON BEACH FAITH BASED COMMUNITY ~I..~ Mailing Address: PO BOX 337 BOYNTON BEACH FL 33425 0337 Sales Information AlI.~ ] . .'... ..,... 'c. ....._.. Sales Date Book/Page Price Sale T\'pe Owner Jan-2007 21978/1771 $470,000 WARRANTY DEED BOYNTON BEACH FAITH BASED COMMUNITY Sep-2005 19548/0523 $10 QUIT CLAIM FRANKEL JUDITH 8t Jun-2005 18771/0965 $200,000 WARRANTY DEED FRANKEL JUDITH A Exemptions Exemption Information Unavailable. Appraisals Tax Year: Improvement Value: Land Value: Total Market Value: Use Code: 0000 Property Information ] Number of Units: 0 _ Description: VACANT Tax Year: Assessed Value: Exemption Amount: Taxable Value: [~.~j : "i<'~..' ..... ":., " , x "...~-. . "~1i~ ;'t~,,:~,~,_ ' Taxes Tax Year: Ad Valorem: Non Ad Valorem: Total Tax: L.Jlll~,..1 l . ".".. ..,} NOTE: Lower the top and bottom margins to 0.25 on file->Page Setup menu option in the browser to print the detail on one page. ,-, An II"'" II r''''''1 ""'I"'\^^"'^ ~ In '''' ^,,() Brooks, Vivian From: Sent: To: Subject: Harper Anderson [HAnderson@lisc.org] Thursday, July 02, 2009 11 :26 AM Brooks, Vivian LlSC $600,000 Loan to Boynton Beach #42291--0015 Vivian, I've spoken to Greg Maher, our Senior Vice President of Lendinq, who is in charge of the disposition of the South Florida loan portfolio. I've also been in contact with our local Florida counsel concerning this matter. As you know, the Parrish & Edwards appraisal for the lots mortgaged to LIse gave a June, 2009 value of $300,000. This is considerably less than the appraised value when the loan was apporved in 2007, and also considerably less than the outstanding LISC loan balance of $533,220. Per our conversations, you and your staff are making a presentation to the Boynton Beach CRA board on July 14. LISC would like the board to note that LISC is a public charity and not a for-profit developer, and that our ability to continue to finance housing for low and moderate income familites and other community projects is in part dependent on our ability to recover loan capital in South Florida. We understand from counsel that the CRA has the discretion to offer up to 10% above a current appraised value in dispostions such as this, both to help lenders like LIse and local community development corporations which have had a project run into trouble. We understand that such a policy allows local CRAs to preserve strategic parcels from for- profit development in appropriate circumstances. Please consider that, even with a $330,000 purchase price, LISC would be obliged to write off in excess of $200,000 in principal in addtion to any back interest. We hope your board will take this in to consideration at the July 14 meeting. Thank you. AN APPRAISAL IN A SUMMARY REPORT FORMAT OF A VACANT 37,543 SQUARE FOOT SITE, LOCATED ON N.E. 4TH AVENUE, BOYNTON BEACH, PALM BEACH COUNTY, FLORIDA 33435 PREPARED FOR LOCAL INITIATIVES SUPPORT CORPORATION C/O HARPER ANDERSON, ESQUIRE 501 SEVENTH AVENUE, 7th FLOOR NEW YORK, NY 10018 AS OF JUNE 10, 2009 PREPARED BY PARRISH & EDWARDS,INC. EIN 59-2650770 J. KENNETH PARRISH, MAl, SRA STATE CERTIFIED GENERAL APPRAISER #RZ249 pARRISH & EDWARDS, INC JiL.. -- Main Office: 3418 W. Mallory Blvd. Jupiter, Florida 33458 PH: (561) 622-9992 FAX: (561) 622-9308 St. Lucie Office: 201 Fernandina Street Fort Pierce, Florida 34949 June 10, 2009 Local Initiatives Support Corporation c/o Harper Anderson, Esquire 501 Seventh Avenue, 7th Floor New York, NY 10018 Re: P&E File No. RF09-141 Dear Mr. Anderson: In accordance with your request, we have made an inspection, analysis, and appraisal in a summary report format of the following: A vacant 37,643 square foot or 0.86 acre site located on N.E. 4th Avenue, within the City of Boynton Beach, Palm Beach County, Florida 33435. As a result of our investigation and analysis of the information outlined in the report, we hereby submit that our opinion of the market value of the fee simple estate of the Subject Property, as of June 10, 2009, is as follows: THREE HUNDRED THOUSAND DOLLARS $300,000 This report is intended to comply with Federal reporting standards and the standards and reporting requirements of the Uniform Standards of Professional Practice (USPAP) adopted by the Appraisal Standards Board of the Appraisal Foundation. This is an Appraisal in a Summary Report Format and is not intended to serve as a Self-Contained Appraisal Report, and is subject to documentation contained within our files. June 10, 200S Page 2 A description of the property being appraised. together with an explanation of the report type and valuation procedures utilized, is contained within the body of this report. This letter is made a part of and subject to the Limiting Conditions as set forth in the report herein. This appraisal assignment was not made, nor was the appraisal rendered on the basis of a requested minimum valuation, specific valuation, or an amount, which would result in approval of a loan. sin~r;~L J. n~tk Parrish, MAl, SRA ate Certified General Appraiser #RZ249 /11/ j/e:1/IA d t{trl;t/ W. Roger Fain, Jr. ' State Certified Residentia Appraiser #RD1358 JKP/RF/sc Ene!. SPECIAL LIMITING CONDITIONS 1. The Subject's site size of 37,543 square feet utilized throughout this report has been taken from public records data. A survey of the subject site was not made available to the appraiser. 2. The appraiser has inspected the Subject site. However, the appraiser is not a qualified environmental inspector. The appraiser has assumed no environmental or subsurface problems exist. Should any exist, our value conclusion would be subject to review and revision. 3. The warranty deed for the Subject Property indicates the most recent conveyance identified the Subject as a singular Parcel Control Number. The Assessor recognizes two numbers and also labels the property as two parcels. The deed indicates one parcel. For reporting purposes, we will identify the Subject as a single parcel. 4. Throughout the report, the Subject will be referred as near Boynton Beach Boulevard. This road was formerly known as N,W. 2nd Avenue. For reporting purposes, we will refer to this street as Boynton Beach Boulevard. CERTIFICATION We hereby certify that to the best of our knowledge and belief: 1. The statements of fact contained in this report are true and correct. 2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and Iimiti.ng conditions, and are our personal, impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the property that is the Subject of this report, and we have no personal interest or bias with respect to the parties involved. 4. I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 5. Our engagement in this assignment was not contingent upon developing or reporting predetermined results. 6. Our 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. 7. The reported analyses, opinions, and conclusions were developed and this review report has been prepared, in conformity with the requirements' of the Code of Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute, which include the Uniform Standards of Professional Appraisal Practice. 8. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. 9. J. Kenneth Parrish and W. Roger Fain, Jr. have made a personal inspection of the property that is the subject of this report. 10. No one provided significant professional assistance other than the person(s) signing this report. CERTIFICATION (CONT'D) 11. The Appraisal Institute conducts a program of continuing education for designated members who meet the minimum standards of this program and are awarded periodic educational certification. As of the date of this report, I, J. Kenneth Parrish have completed the requirements under the continuing education program of the Appraisal Institute. 12. Our analyses, opinions, or conclusions that were developed in this report have been prepared in conformity with the requirements of the State of Florida for the State Certified Appraisers. 13. The use of this report is subject to the requirements of the State of Florida relating to review by the Real Estate Appraisal Subcommittee of the Florida Real Estate Commission. .2 ~~I-~---- __ __ J~hefl1' Parrish, MAl, SRA-->:> State Certified General Appraiser #RZ249 liv }\~A/'- ~ ~~ W. Roger Faih, Jr. r;; State Certified Residential A praiser #RD1358 ~ \ r SUBJECT SITE VIEWED FROM N.E. 4 AVENUE t . ~ :()..~~ ,..~ '>, .' ': ." .' _ ., '. '. '/';~~~! tti',..' .~ . (..... SUBjECT STREE;' ~ N.I:. 4T~ A ~~'U~, LOOi(;NG 'WEST' RF09.141 PARRISH & EDWARDS, INC.' ii \ AERIAL PHOTO r \ 09-141 SUBJECT AREA MAP ~~ ~" r1dt. II . ~~~. / ,~ ~orli\P~lm B:;;;'-' - , ~60940.- . 650~' ! 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J I ay Beach ;';:1A) - , ; ~Ighland . Beach .. . r 3 I I I I I a n t I c i 0 C e a n 'I <I ., o ml 2 4 6 6 10 12 Copyright 0 11188-2005 McfO$oll Corp. .nd/of "1IuppIi.rs, All "phis ,auNed, hUp:l/wwN.microso/t.comIaltlttsl Cl2004 NAVTEQ, All righla ,...rvad, ThIs d.ta Ineludas InrOlll1.tion Iakon w.'1b permission If om Conadi.n .u\horiUes Cl Hit MaJesly \he au..n In RighI of C.n.d.. C Copyrigh12004 by TaleAUas North Amllllca, Inc, All tlghla reserved. SUMMARY APPRAISAL REPORT ThIs is an appraisal in a summary report format which is intended to comply with the reporting requirements set forth under Standard Rule 2~ 2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As such, it presents summary discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analysis is summarized in this report and/or retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated within this report. The appraiser is not responsible for the unauthorized use of this report. PARCEL REFERENCE: RF09~141 CLIENT: Local Initiatives Support Corporation c/o Harper Anderson, Esquire 501 Seventh Avenue, 7th Floor New York, NY 10018 APPRAISER: J. Kenneth Parrish, MAl, SRA State Certified General Appraiser #RZ249 W. Roger Fain, Jr. State Certified Residential Appraiser #RD1358 Parrish, & Edwards, Inc. 3418 West Mallory Boulevard Jupiter, Florida 33458 SUBJECT PROPERTY OWNER: Boynton Beach Faith Based Community Development Corporation RF09.141 PARRISH & EDWARDS, INC. 5 REAL ESTATE APPRAISED: Property Location: The Subject Property is located on the north side of N.E. 4th Avenue, approximately 300 feet west of Seacrest Boulevard and two blocks north of Boynton Beach Boulevard I within the City of Boynton Beach, Florida. Leaal Description: Folio #08-43-45-21-29-003-0020 & 0032. lot 2 and the NE 1/4th of lot 3, Block 3, Shepard's Addition to the Town of Boynton, recorded in Plat Book 2 Page 59 in the Public Records of Palm Beach County, Florida. PURPOSE OF THE APPRAISAL: The purpose of this appraisal is to provide an opinion of the Market Value of the Fee Simple interest of the Subject Property, as of June 1 a, 2009. INTENDED USE AND USER: The intended use of this appraisal is to provide an opinion of the market value of the Subject Property. The intended user of this report is the Local Initiatives Support Corporation. The client has not advised us of any intended subsequent user of this report. DEFINITION OF FEE SIMPLE ESTATE: Fee Simple: An absolute fee; a fee without limitation to any particular class of heirs or restrictions, but subject to the limitations of eminent domain, escheat, police power, and taxation. An inheritable estate. Source: The dictionary of Real Estate Appraisal, Appraisal Institute. RF09.141 PARRISH & EDWARDS, INC. 6 FIVE YEAR SALES HISTORY: A search of the Palm Beach County Public Records of the Subject Property indicated the last sale. involving the Subject was dated January 2007 for $470,000, per O.R Book 21978 Page 1771, and also in June 2005 for $200,000 per O.R. Book 18771 Page 965 as recorded in the Official Records of Palm Beach County, Florida. There was also a $10.00 Quit Claim Deed in September 2005. The Subject Property is not known, by the appraiser, to ~urrently be under contract nor is it listed for sale. ESTIMATED EXPOSURE I MARKETING TIME: Based on discussions with local real estate brokers, an exposure/marketing time of 1 ~ to 18 months is considered appropriate, assuming marketing by an experienced broker at a reasonable asking price. DATE OF VALUE: June 10, 2009 DATE OF INSPECTION: June 10, 2009 DATE OF REPORT: June 10,2009 RF09.141 PARRISH & EDWARDS, INC~ 7 DEFINITION OF MARKET VALUE The regulatory required market value definition is; 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 consummation of a sale as of a specified dat~ and 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 each acting in what they consider their own best interests; 3. A reasonable time is anowed 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. Source: *Uniform Standards of Professional Appraisal Practice, Page 1-7 *Federal Reserve System, 12 CFR Parts 208 and 225, Sec. 225.62 *Office of the Comptroller of the Currency, 12 CFR Part 34, Sec. 34.42 *FDIC, 12 CFR Part 323, Sec. 323.2 *Office of Thrift Supervision, 12 CFR Part 564, Sec. 564.2 *NCUA, 12 CFR Part 722, Sec. 722.2 *RTC, 12 CFR Part 1608, Sec. 1608.2 *FIRREA, Title XI RF09.141 PARRISH & EDWARDS, INC~ f SCOPE OF APPRAISAL This is a Summary Appraisal Report. Per the Appraisal Institute, a Summary Appraisal Report is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As such, it presents only summary discussions of the data, reasoning, and analysis that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analysis is retained in the appraiser's file. The depth of discussion contained in this report is specific to the needs of the client and for the intended use stated within this report. The appraiser is not responsible for the unauthorized use of this report. This report will prOVide an opinion of the current market value of the Subject Property. The report will be in an abbreviated format, with complete sales data maintained in our files. This report will contain a chart summarizing the sale comparables. In formulating this report, the appraisers personally inspected the Subject Property and the comparables. All sales were verified with the grantor, grantee or a third party familiar with the sale such as a real estate broker or attorney. The search for data was concentrated primarily in the Subject's immediate area and if limited data in this area was found, the search was expanded to other areas consid~red to be similar. The intended use of this appraisal is to provide an opinion of the Market Value of the Subject Property to serve as a guide for financing purposes. Our opinion of the Market Value will be derived by considering one - Sales Comparison - of the three standard appraisal approaches which is briefly summarized as follows: SALES COMPARISON APPROACH - A process of analyzing sales of similar recently sold properties in order to derive an indication of the most probable sale price of the property being appraised. Because the Subject is an improved site only, this approach is considered the only applicable approach. The Sales Comparison Approach is considered to be the best indicator of value for the Subject Property. The appraiser has engaged in original research of sales and general trends in the market. Data has been gathered from various sources, including public records, area brokers, appraisers, property owners, and published sources. Additionally, we have used original research performed in preparation of other appraisals by this office, which is considered to be appropriate for the Subject Property. The product of this research and analysis is the valuation conclusion contained herein. RF09.141 PARRISH & EDWARDS, INC~ 9 i i I I I I I I I I i I I I I , I I I 1 I j PALM BEACH COUNTY SUMMARY The Subject Property is located in Palm Beach County, Florida. Physical Characteristics Palm Beach County is located along the southeast "Gold Coast" of Florida and is the second-largest county in the state and seventh in the nation with a land area of 2,386 square miles, of which roughly 20% is within Lake Okeechobee and other wetland areas. The county is rectangular-shaped and is bounded on the east by the Atlantic Ocean, on the west by Glades and Hendry Counties, on the south by Broward County, and on the north by Martin County. The geographic center of the county is +/-67 miles north of Miami and +1- 171 miles southeast of Orlando. Elevation averages 15' above sea-level. Natural habitat, moving from east to west, includes coastal beach dune ecosystems, pine flatlands, and freshwater wetland areas. The county's renewable resources include 45 miles of coastline and an average year-round temperature of 75 degrees. Average temperature ranges from a low of 65.2 degrees in January to a high of 82.5 degrees in August. Winter temperatures are moderated by the Gulf Stream warm water current less than two miles offshore. These conditions have proven favorable for tourism, agriculture, and population in-migration. RF09.141 PARRISH & EDWARDS, INC. 10 Education For 2008 - 2009 school year, the Palm Beach County school system ranks as the 5th largest in Florida and the 11th largest in the nation with 168,342 students enrolled. There are 184 public schools (including 103 elementary scho~ls, 33 middle schools, 23 high schools, 22 alternative, 1 adult and community, 1 intermediate school, and 1 K12 virtual school). Four new schools opened for the 2008/2009 school year. Over previous years, the number of students in the school system had been on the rise but for the 2006/2007 (-3,246 students) and 2007/2008 (-2,036 students) school years, there was a decline in student 'enrollment for both years. 2008/2009 is slated to be similar to 2007/2008. Three schools in Palm Beach County are ranked in the Top 100 high schools in America. Palm Beach County has several colleges / universities / technical institutes. Palm Beach Community College is a public 2-year college and has four campuses having an estimated total enrollment of approximately 21,340 students for the 2007-2008 school year. Florida Atlantic University (FAU) is a 4-year college, whose main campus is in Boca Raton and had an enrollment of approximately 25,704 students for 2006-2007. FAU is a member of the state university system and also has five campuses. Other higher-learning institutions include Lynn University (approximately 2,720 students in 2007), Palm Beach Atlantic College (approximately 3,264 students for 2007), and Northwood Institute (approximately 1,000 students). Transportation Roads in the county essentially run east-west and north-south, forming a grid system over the eastern one-third of the county. Roadways that extend beyond the county's borders include State Road 80, State Road 710, Interstate 95, and Florida's Turnpike. State Road 80 connects coastal Palm Beach County with the Glades and the west coast of Florida. This roadway was widened to four lanes from West Palm Beach to Belle Glade several years ago. State Road 710 (Beeline Highway) runs from the West Palm Beach area of Palm Beach County and travels northwest into Martin County. Interstate 95 is an interstate highway running from Florida to Maine. It serves as the main north/south artery in the county, transporting over 145,000 cars per day. Florida's Turnpike is a toll road running from Wildwood to Miami. It serves a mix of tourist and local traffic. The Turnpike is generally parallel and to the west of Interstate 95. Several exits and all of the rest stops have recently undergone renovation. RF09-141 PARRISH & EDWARDS, IHe: 11 Rail transport is via two carriers: Florida East Coast Railway and Seaboard Systems Railroad. Both lines are primarily freight oriented with limited passenger service via Amtrak. There are five public, general aviation airports in Palm Beach County and eight private airfields. The largest, Palm Beach International Airport is centrally located southwest of the city of West Palm Beach and is served by every major airline. Palm Beach International Airport Passengers 900,000 o 800,000 700,000 600,000 500.000 400,000 300.000 200.000 100.000 02006 D2OO7 .2008 The Port of Palm Beach is located due west of the Lake Worth inlet in lake Park. The Port handles a variety of incoming and outgoing cargo including agricultural products, general cargo, oil and cement, and cruise line passengers. Economic Drivers Population growth through in~migration is one of the primary economic drivers in the county. The county's year round population increased approximately 31 % from 863,365 in 1990 to 1,131,191 in 2000. The 2008 population estimate from the US Census Bureau was 1,318,358 representing a 17% increase over the 2000 population. The projected population estimate for 2013 is 1,432,137 which is slightly less than the 2012 projection of 1,456,007. RF09.141 PARRISH & EDWARDS, JNC~ 12 SUBMARKET 2006 2007 . %of 2012 (Census) Estimate Estimate Change Projection Atlantis 2,138 2,125 -0.61 % 2,218 Belle Glade 16,894 16,196 -4.13% 17,130 Boca Raton 85,488 82,224 -3.82% 87,551 Boynton Bch 67,071 67,606 .80% 72,869 Briny Breezes 418 492 17.7% 557 Cloud Lake 164 171 4.27% 174 Delray Beach 64,095 67,342 5.07% 72,667 Glen Ridge 265 283 6.79% 288 Golf, Village 232 263 13.36% 287 Greenacres 31,734 30,133 -5.05% 32,021 Gulf Stream 736 766 4.08% 803 Haverhill 1,554 1,565 0.71% 1,645 Highland Bch 4,157 4,110 -1.13% 4,359 Hypoluxo 2A63 2,679 8.80% 3,158 Juno Bch 3,637 3,551 -2.37% 3,761 Jupiter 50,028 47,662 -4.93% 52,387 Jupiter Inlet Col. 371 467 25.88% 540 Lake Clarke Shrs. 3,469 3,606 3.95% 3,721 Lake Park 9,113 9,125 . 0.13% 9,422 Lake Worth 36,412 37,403 2.72% 39,068 Lantana 10,121 10,012 -1.08% 10,429 Manalapan 360 364 1.11% 394 Mangonla Park 2,539 2,412 -5.0% 3,225 North Palm Bch 12,562 13,120 4.44% 13,897 Ocean Ridge 1,640 1,924 17.32% 2,132 Pahokee 6,419 6,637 3.4% 7,110 Palm Beach 9,706 10,948 12.8% 11,316 Palm Bch Gdns 48,178 43,467 -9.78% 49,213 Palm Bch Shrs. 1,366 1,314 -3.80% 1,350 Palm Springs 14,512 12,321 -15.10% 12,785 Riviera Beach 33,408 34,331 2.76% 37,401 Royal Palm Bch. 30,334 29,630 -2.32% 35,262 South Bay 4,666 4,093 -12.28% 4,263 South Palm Bch. 1,526 722 -52.69% 740 Tequesta 5,702 5,673 -0.51 % 6,034 Wellington 55,564 46,198 -16.86% 51,326 West Palm Bch. 107,617 95,617 -11.15% 104,716 Unincorporated 558.284 627 120 12.33% 649,880 County Total 1~287,987 1,323,572 2.76% 1,456,007 Source: Palm Beach County Business Development Board RF09.141 PARRISH & EDWARDS, INC. 13 Health Care Health care is one of Florida's fastest growing service sectors, employing over 500,000 of the state's service workers and generating almost $1.3 billion dollars in payrolls. Approximately 35,000 health care practitioners and workers are employed in Palm Beach County. Palm Beach County has 15 acute-care hospitals including the new Veterans Administration Medical Center. The available beds in these hospitals total 3,645. Included are two trauma centers - one at Delray Medical Center in Dekay Beach, and the other at Sf. Mary's Medical Center in West Palm Beach. Two of the County's largest hospitals - Good Samaritan and st. Mary's Medical Centers - merged, becoming TenetSouth Florida Health System. There are 42 nursing homes with 5,250 beds available in Palm Beach County. In addition, there are two Hospices, ten Public Health Clinics, numerous Treatment Centers, and Adult Living Facilities to serve the needs of the population. Construction Below is the building permit activity for new home construction and related commercial and industrial properties and permitted values in recent years, as the following chart illustrates: Bldg. Permit Activity 2004 2005 2006 2007 .2008 Housing Units 13,223 10,504 6,927 2,032 1,162 Valu-Housing Permits $2.698 $2.298 $1.75B $0.878 $0.41 B Valu-Comm/Other .. $1.088 $1.398 $0.848 $0.408 $0.58B Valu-Total .. $3.778 $3.688 $2.598 $1.278 $1.028 *includes repairs/additions 8 = Billion The number of single family residential family building permits for 2008 decreased approximately 43% as compared to 2007. The total value of residential family permits decreased approximately 48% during the same period. RF09.141 PARRISH & EDWARDS, INC~ I L Tourism Palm 8each County is one of Florida's major destinations for business and leisure travelers. The county visitor industry employs more than 50,000 people and contributes more than $2.6 billion annually to the economy. In the third quarter of 2008 the average occupancy rate for Palm Beach County was 53.6%. This Is 11.9% lower than the second quarter 2008 and 2.4% lower that the third quarter 2007. The average occupancy rate among larger properties (101+ rooms) was 56% and 40.9 among smaller properties (50 to 100 rooms). The Palm Beach International Airport had total passengers of 6,521,590 for the twelve month period ending November 2008 a decrease of 6.24% from the previous year November 2007 (6,995,356) figure. Agriculture Commercial agricultural production is one of Palm Beach County's major core industries and employer. Two major crops in Palm Beach County are sugar and citrus. Agricultural production is expected to remain a vital segment of the Palm Beach County economy however coastal farmland acreage is gradually declining as urbanization spreads westward. In addition, Palm Beach County's Equestrian community is one of the country's premier locations for polo, jumpers, and dressage. Additionally, there is an extensive private recreational horse population. RF09-141 PARRISH & EDWARDS, INC. Employment 15 Major job categories ranked by percentage are from the Business Development Board of Palm Beach County and are shown below: Labor Force & Industry Total Non Agricultural Employment Total Private Goods Producing Construction Manufacturing Service Providing Private Service Providing Trade, Transportation, and Utilities Wholesale Trade Retail Trade Transportation, Warehousing, & Utilities Information Financial Activities Finance and Insurance Professional & Business Services Professional & Technical Services Mgt of Companies & Enterprises Administrative & Waste Services Education & Health Services Leisure & Hospitality Accommodation & Food Services Other Services Total Government Labor Force Employment As of Nov 2008 572,600 505,700 55.600 38,100 17,400 517.000 450,100 104,500 22,900 71 ,100 10,500 10,800 37.900 24.800 120.800 38,600 8,900 73,300 79.800 71.200 54,100 25,100 66.900 648,552 599.012 2007 -2008 % of Change -2.3% -2.6% -9.7% -11.2% -6.5% -1.4% -1.6% -4.0% 0.9% -5.6% 1.0% -3.6% -3.6% -0.8% -0.7% 3.2% 1.1% -2.9% 2.3% -3.5% -4.1% 1.6% 0.3% RF09-141 PARRISH & EDWARDS, INC: 16 The county's selected larger employers (government and private) are estimated, as shown below: Emplover '!J. Emplover 11 P. B. C. School Board 21,707 Hollander Home Fashions 1,200 P, B. County 11,293 Southland Forming 1,200 Tenet Healthcare. 4,500 A Duda & Sons 1,100 Columbia PB Healthcare 3,411 Tropical Shipping 1,000 FL Power & Light 3,250 Thomas Prod uce 1,000 FL Atlantic University 2,923 Wackenhut Corp. 990 The Breakers 2,300 P.B. Comm College 982 Office Depot Headquarters 2,180 Wachovia 950 80ca Raton Comm. Hosp. 1,860 NCCI 900 U.S. Sugar Corp. 1,800 National City 880 Florida Crystals Corp. 1,800 City of Boynton Beach 833 Boca Raton Resort Hotel 1,650 Washington Mutual 825 Bethesda Mem. Hospital 1,600 PGA National 800 City of WPB 1,544 V.A. Medical Center 1,500 Jupiter Medical Center 1 ,400 AT&T 1,300 City of Boca Raton 1,297 P.B. Newspapers 1,275 Source: Business Development Board updated for October 2007. Unemployment rates had remained steady except during the 2004 Hurricane Season causing the unemployment rate to increase to 6.1 %. November 2007 the unemployment rate was 4.4%. The unemployment rate has been gradually increasing since the lows experienced in 2005/2006. Palm Beach County's November 2008 unemployment rate was 7.6% with the state average of 7.3% and the national average of 6.5%. Employment is indicated a 2.3% decrease in the number of total non-agricultural jobs during the last twelve months. This represents an overall net loss of 13,200 jobs. Overall employment has decreased by 2.8% over the last 12 months. RF09-141 PARRISH & EDWARDS, INC~ 17 Summary Land use concerns will remain a contentious issue as county residents attempt to reach a balance between quality of life and economic development. No~growth sentiment is gaining strength in several of Florida's wealthier counties. Palm Beach County's current stance can be characterized as allowing moderate growth. Overall, the housing market has seen a significant increase in the supply of available residential units and a decrease In the' number of building permits since late 2005 I early 2006. For 2008, there was a 48% decrease in the number of building permits relative to 2007. Foreclosure rates have also been trending upward in Palm Beach County and all of South Florida. The declining housing market and poor economic conditions have also had an affect on the commercial and industrial market with both rental rates and occupancy rates for most market segments softening over the past 12 months. This trend is expected to continue until economic conditions begin to show some signs of improvement. RF09-141 PARRISH & EDWARDS, INC. 18 r --..-, I ......" ......1 I I I ,nalapan I ~ I I; 111 Q) o o o ,..'" _../ .... .... I; 111 -, .... ~ ,..."'" ...,., Oml 0.5 1 1.5 Coovrlghl c ,g88.2005 Microsoll Co<P. endlor lis auppliars. All rlghls Ill_d. hllp:l/wwW.mltrosof\.eomlWa.tsl C 2004 NAVTEO. All rfghl. ".'lYed. 'rills data Includes Informalfon Iaken with permission from Canadian lulhoriUu C Her Majesty lhe Oueen In RIght of Canada. C Copyright 2004 by TeteAll.. Horth AmerlU, Inc. All t1ghlS ,..e",ed. 19 AREA/NEIGHBORHOOD ANALYSIS The Subject Property is located in the City of Boynton Beach between the Town of Hypoluxo to the north and the City of Delray Beach to the south. The boundaries for the Subject's Area/Neighborhood are defined as the Interstate 1- 95 to the west, Intracoastal Waterway to the east, Hypoluxo Road to the north, and Woolbright Road to the south. The City of Boynton Beach had a year 2007 population of 68,284. Some of this was due to annexation of new communities into the city. Boynton has grown rapidly as growth has proceeded north and west of the Interstate 95 corridor. Interstate 95 in the area has traffic counts of roughly 150,000 cars per day. Due to the successful redevelopment of West Palm Beach, other older coast~1 cities, Boynton Beach included, are undertaking several redevelopment projects. Boynton Beach has built a new City Hall as part of their redevelopment efforts. Delray Beach has a $2.3 million dollar beautification plan to lure new bu'sinesses to the downtown area. Their redevelopment efforts are illustrated in their new $8 million dollar courthouse, which was constructed on West Atlantic Avenue. Boca Raton had a $40 million dollar project known as Mizner Park located on 30 acres in the downtown area. The City of Boynton Beach is located approximately 15 miles south of Palm Beach International Airport and 30 miles north of Fort Lauderdale Intemational Airport. In addition to having access to the above international airports, the Palm Beach County Park Airport, located in Lantana, is in close proximity to the Subject neighborhood. The major north/south transportation routes are Interstate 95, U.S. Highway #1 (Federal Highway), Congress Avenue, and Military Trail. The major east/west arteries, which intersect the majority of the north/south arteries, are Boynton Beach Boulevard, Woolbright Road, Hypoluxo Road, and Gateway Boulevard (N.W. 22nd Avenue). The Subject Property is located within Census Tract 61.00 as indicated by the Bureau of the Census. The 2008 population for this tract is 4,508. The 2008 estimated median family income for this tract Is $38,801. The total housing units are 1,794 with 707 being renter occupied. RF09-141 PARRISH & EDWARDS, INC. 20 AREA/NEIGHBORHOOD ANALYSIS (CONT'D) The 2008 daily traffic counts along nearby major roadways are as follows: Intersection Traffic Count Boynton Beach Blvd. between 1-95 and Federal Highway 16,253 19,559 15,071 Federal Highway, Boynton Beach Blvd to Gateway Blvd: Seacrest Blvd, Boynton Beach Blvd to Gateway Blvd: The City of Boynton Beach has a Council/Manager form of government with a mayor and four commissioners elected to two year staggered terms. Boynton Beach also has several private and public schools, which include eight elementary, five middle, three high school, one technical high school, one specialty school, five kindergartens, and four private schools. Additionally, City Fire and Police service are also available nearby. The city currently has one full service hospital known as Bethesda Memorial Hospital, which has a total of 350 beds and provides medical, surgical, obstetrical, pediatrics, and ancillary services. Bethesda Memorial has been approved for a second full service hospital of approximately 90 beds that would serve the western Boynton Beach area. Other medical facilities located near the Subject Neighborhood include John F. Kennedy Memorial Hospital located on Congress Avenue. south of Lake Worth Road and Good Samaritan Hospital, located near downtown West Palm Beach along Flagler Drive and the Intracoastal Waterway. Over the past two decades Boynton Beach has experienced major changes with construction of the Boynton Beach Mall and a ten building city government complex. The Boynton Beach Mall is a 1.2 million square foot mall built in 1985 and anchored by Muvico, JC Penney, Dillards, and Macy's. Besides this regional mall there are numerous major shopping centers and many_ strip shopping centers in the area. The bulk of the new development has occurred west of Interstate 95. The completion of an Interstate 95 interchange at Gateway Boulevard (Northwest 22nd Avenue) has increased accessibility to the city and has also facilitated development of Quantum Corporate Park. RF09-141 PARRISH & EDWARDS, INC.- 21 AREA/NEIGHBORHOOD ANALYSIS (CONTrO) Quantu'm Corporate Park is the county's fourth largest industrial park that is situated on a 553-acre tract of land at the southwest corner of Interstate 95 and Gateway Boulevard (N.W. 22nd Avenue). Quantum Park was knoyvn for its industrial development. However, Quantum Park has amended its DRI Master Land Use Plan to include approximately 90 acres of mixed-use development and over the past few years several new multi-family project have been developed within the park. Car Max, a public high school, and a Publix distribution center are tenants. The Subject Immediate Neighborhood The Subject Property falls within the Heart of Boynton Redevelopment Plan area. The boundaries for this area are the Boynton Beach canal to the north. roughly Boynton Beach Boulevard to the south, 1-95 to the west and the FEC railroad tracks to the east. The CRA has identified 1,151 parcels within this boundary with 889 parcel .owners. The current land use is multi family with R2 zoning permitting 8.92 dwellings per acre. Future land use, if approved would be mixed use. The CRA and the School board are currently the largest land owners within this boundary. To date, only new single family homes with FHA, CRA and City of Boynton Beach financing have been redeveloped with new structures selling for approximately $220,000 and sales of vacant REO's as low as $25,000. Within the Subject CRA, the predominate dwelling is a fair quality CBS construction dating from the 1930's to 1950's, with some older frame dwellings. Many dwellings display signs of deferred maintenance. Most have few amenities. The Realtors MLS statistics indicate within the past one year the average sales price to be $75,440 with 113 days on the market. RF09-141 PARRISH & EDWARDS, INC. 22 AREA/NEIGHBORHOOD ANALYSIS (CONT'D) Residential Market Area BOYNTON BEACH HOUSING STATISTICS AVERAGE AVERAGE AVG. DAYS ON TYPE SALE PERIOD SELLING $ PER SF MARKET SFR May 08 to 09 $294,753 $113.19 180 CONDOS May 08 to 09 $114,379 $90.01 184 THOUSES May 08 to 09 $165,282 $108.59 165 BOYNTON BEACH MLS RESIDENTIAL STATISTICS MEDIAN TYPE # OF SALES SALE DATE SALE PRICE % CHANGE SFR 1180 May 08 to 09 $294,753 992 May 07 to 08 $340,215 -13.36% CONDOS 437 May 08 to 09 $114,379 376 May 07 to 08 $181,584 -37.01% THOMES 361 May 08 to 09 $166,282 331 May 07 to 08 $201,848 -18.12% PALM BEACH COUNTY RESIDENTIAL STATISTICS MEDIAN TYPE # OF SALES SALE DATE SALE PRICE % CHANGE SFR 1022 Dee-OB $238,000 933 Dee-07 $292,841 -18.73% 709 Nov-08 $246,000 845 Nov-07 $305,000 -19.67% CONDOS 368 Dee-08 $140,000 460 Dee-07 $170,000 -17.66% 303 Nov-OS $125,000 493 Nov-O? $190,000 -34.21% Conclusion The Subject neighborhood is primarily residential in nature with a minimal amount of supporting commercial uses. Many of the existing structures are older with a substantial amount of deferred maintenance. The immediate neighborhood will remain stagnant until the CRA conducts a substantial amount of redevelopment activity, with new dwellings delivered. RF09-141 PARRISH & EDWARDS, INC. (.... The Heart of Boynton Redevelopment Master Plan (' I'" ParoDI Map D 1M bH ..--- I ....'..I c:I'"U: lI"VIJIlIl'.... ~' (JltII ,,," . 1111'0" - "'Ifl _o.~ ~ _lI,.II,IU'"l/ .. "'1,.. c-.It, _......... hpl,II'ea.fldl flour. 2 r.... Strategic Planning Group. Inc. Page 6 r The Heart of Boynton Redevelopment Master Plan r " "". el; ~ll Ilfmll "nWntlll.IfIll,,,w, ZlIIiIU Map . lItIV"'W,'" II tie. , lItlll..'W'h,ks .81,,, te. 0 1M WI lItIV."W.""IIJttr It, . . o......It,., ,,,,,"1111' It.. II'''' ~''''I''' (."",.111 Ceft, ." Ctftft,rtlIl ItIft "..,1I1.1:bIIdt, fla1._. 'III Ott.,lIIo;,",,1III IiwllfUII '"",,'ne',I),,.1I "gura 8 lIt.mUII r Strategic Planning Group, Inc. Page 17 1 (800) 213.PLAN r ~ .... u "- !I- S""I i i "" i ~ 1 'rflt....! 'j~~ i Il J.. . &;,.~ :'.... ff ,--~,~:. · .ill; ~ I> , Jil: " ~J .;: -. r r..... I i ... =' =i'. ~ I '1 II f a: 1.- =1 t E ~. i rl~ ~t- ~ 1 ~. . ,,( ~ Z jH~ t . it FI i J: '. '1. '.1. ~.', . .lil~ [I" i il..- 8...:'. t.t'. ~. J- .tr.S . t~ .. tJ t..,~. .' utIr ~. .) 't~. ._'IS.' , . .Jil~ , '~tl" ",ti: t . I, 1 [' ~ . ,~ :11 ~ .I~': r..~~1 I i . 8 .. I ~I':ij tS! n ..~ i.." .... t i s.. _.. -~ "',~ =:! ..-- 5fi- II ~- m I l A E . JL~~ - ,'. 114' NE,9 . - ., . _0 -.. '. - ;tlES ...... -=- , AVE.. ": AVr.." " . -'. ~,~~ ".' '.": . ~....... a:,.... 25 SITE DATA (CONT'D) Flood Zone; The Subject Property lies within flood zone "C" as shown on Map Panel Number 120196 0004C, dated September 30, 1982. Typically, this flood zone classification does not require flood insurance. Real Estate Taxes: The 2008 assessed valuation and taxes for the Subject Property included within two Parcel Control Numbers as follows: Folio #08-43-45-21-29-003-0020: Total Value: $240,264 $4,794.00 2008 Total Taxes: Folio #08-43-45-21-29-003-0032: Total Value: $48,064 $959.00 2008 Total Taxes: The 2008 taxes have been paid. There were no recorded unpaid or delinquent taxes for prior years. Site Improvements: The Subject is basically irregular in shape and totals 37,543 square feet. The site is rated as raw land with no site improvements or than some overgrown scrub brush and mature trees. RF09-141 PARRISH & EDWARDS, INC. 26 HIGHEST AND BeST USE Highest and Best Use is defined by The Appraisal Institute in the publication Real Estate Appraisal Terminolooy as follows (abbreviated): Highest and Best Use - That reasonable and probable use that will support the present value as of the effective date of the appraisal. Alternatively, that use, from among the reasonable, probable, and legal alternative uses, found to be physically possible, appropriately supported, financially feasible, and which results in the highest land value. A proper analysis of the Highest and Best Use of a site is to examine each segment of the definition. AS VACANT The Subject site is currently zoned "R211, Medium Density Residential, by the City of Boynton Beach. This district is a residential district. Single family homes have minimum site areas of 4,500 SF. A two unit building can be developed on a 9,000 SF site and also requires 75 feet of frontage. Under the current Land Use Plan, the subject site can be developed with up to 9.68 dwellings per acre. With the Subject site size, 8 single family homes on 4,500 square foot sites can currently be developed. Within the Subject CRA district, Heart of Boynton, there is a proposed land use which would permit up to 20 dwelling units per acre with work f~rce housing. Heart of Boynton CRA neighborhood boundary maps (Parcel Map), Current Zoning Map and Proposed Land Use Map are all included within the body of this report. Physically Possible: The Highest and Best Use definition requires that the development of a site be physically possible. The Subject site has 37,543 square feet or 0.86 acres and does not appear to have any soil conditions that would prevent development. The Subject site has adequate size and dimensions for development. There are no unusual physical characteristics to hinder development of the Subject Site. In consideration of surrounding land uses, it appears that the Subject Property is physically capable of development with almost any type of property improvements that are permitted in accordance with current zoning and land use . plans currently in force. RF09-141 PARRISH & EDWARDS, INC. ,..," L ' HIGHEST AND BEST USE (CONT'D) Financially Feasible: The last and possibly most important part of the definition is that the use be financially feasible. Determining the financial feasibility of development would require site plan approvals, detailed construction plans and construction costs of what is proposed for development, and feasibility would have to be determined on a case-by-case basis. Given the current development trend in the subject eRA, a residential development consisting of single family dwellings which are currently being developed under the current land use plans is considered to be the highest and best use for the Subject Site as vacant. Conclusion Conclusion for the Subject site is to develop with single family dwellings under current zoning which is occurring within the Subject eRA or to land bank the site for future development based on proposals from the eRA to increase density with work force housing to 20 units per acre. RF09-141 PARRISH & EDWARDS, INC. 28 VALUATION METHODS In estimating the market value of the Subject Property, three Approaches to Value - Cost, Sales Comparison, and Income - were considered but as discussed in the Scope of the Appraisal only the Sales Comparison Approach was considered to be relevant. The applicable approach is defined as follows: SALES COMPARISON APPROACH - Traditionally, an appraisal procedure in which the market value estimate is predicated upon prices paid in actual market transactions and current listings, the former fixing the lower limit of value in a static or advancing market (price wise), and fixing the higher limit of v~lue in a declining market; and the latter fixing the higher limit in any market. It is a process of analyzing sales of similar recently sold properties in order to derive an indication of the most probable sales price of the property being appraised. The reliability of this technique is dependent upon (a) the availability of comparable sales data, (b) the verification of the sales data, (c) the degree of comparability or extent of adjustment necessary for time differences, and (d) the absence of non- typical conditions affecting the sale price. (FROM:. Real Estate Aooraisal Terminolooy, The Appraisal Institute) RF09.141 PARRISH & EDWARDS, INC~ 29 SALES COMPARISON APPROACH TO VALUE To provide an opinion of the market value of the Subject Property via the Sales Comparison Approach, a sales search was conducted to locate and analyze sales data and compare it to the Subject via appropriate units of comparison. These sales were analyzed on a price per square foot of site size and on a price per unit basis. The Direct Sales Comparison Approach is based upon the principle of substitution, which states that a prudent purchaser would pay no more for a property than the cost of acquiring a .substitute property on the open market. Substitution may assume purchase of an existing property, with equal utility, or of acquiring an investment which will produce an income stream of similar size with similar risk, as the Subject Property. An analysis of the market is made in an effort to ascertain a reliable unit of comparison to the Subject Property. Adjustments are made to the sales to account for physical or economic differences as compared to the Subject Property. An adjusted sales price indication is derived from each comparable sale analyzed. These are then weighted according to their relative comparability and then applied to the Subject Property to indicate a value. A search for comparable sales produced the following infoffi1ation for analysis. RF09.141 PARRISH & EDWARDS, INC~ ('\ 1 IIdllfe I ' 8 nctuary 1 J' 1'.. \ " I('~ . I t \ ~ . '. rdy In 'II )', ~ I '" f . " " ,'0.1.., I 1\ -\ ..) 1.., ., 09-141 COMPARABLE SALES MAP it Ivdil 1- - ( 30 ( .. , , ( l~,\ ~ \ " , I' t , I .' T '..... ", J SALE #4 t' ,..~ . f 1 \ , \.. ,'. ~ )., .. , .-0 I t,.. Q: " I " '~ ~.. , , .\ Q: 1 1"1,-'1 :'t " LO. DA " J South Palm Beach I '..~ . 812 'W"'""':"- \' Atlantic ,( Ocean I I I I ( J." II~ .._ - I , ... \~) .. I , J . \" f. 1 J . ) . ~ ',I \ .t- ",' , tJ... I .' . ./ ( J " ~ ~. ~ l \. ~;' I f ' ".1 . . (- ll, t .;~ '<"i' o ml 1 2 3 Copyright 0 1988-2005 ~crosofl COfIl. and/or III IUPJlUara. All righll reserved. http:Jtwww.mlerolof\.comlltreelsf 02000{ tlAVTEa. M rights renrvecl. This dala Ineludeslnlormatron lakan with peM'lllston lrom Canadian aulhoriUes CHar MaJalty Iha Queen In RIghI 01 Canada. 0 CoPyrillht2004 by Te'eAIla$ North Ame"". Inc. All rillhls re..rved. . .. 31 SALES COMPARISON ANALYSIS The S!Jbject site is irregular in shape and contains 37,543 square feet or 0.86 acres with approximately 100 feet of frontage on the north side of N.E. 4th Avenue, with 300 feet of depth and approximately 50 feet of width along the south side of N.E. 5th Avenue and approximately 150 feet of depth. The Subject site has access available on both N.E. 4th and N.E. 5th Avenues on the west side from Seacrest Boulevard and from 1 st Street on the east side. Seacrest Boulevard is a six lane median divided north/south arterial roadWay which connects from Boynton Beach Boulevard to Hypoluxo Road, at the north end. 1st Street is a two lane neighborhood road. Overall, access to the Subject Property is considered average. The site is at or slightly above road grade. The site has all forms of utilities available. One listing and three sales of comparable sites considered overall to be relatively similar to the Subject are used for estimating the Subject's value, as listed on the Sales Chart on the facing page. The sales have been analyzed based on differences in financing, market conditions. location/exposure, and size. Units of comparison are made on a value per square foot and also a value per permitted unit basis. The adjustments considered are as follows: FINANCING All of the sales were either cash to the seller or conventional financing at market rates with no concessions on the part of the seller and with no effect on the sales price indicated. Therefore, no adjustments were made. DATE OF SALE/MARKET CONDITIONS The comparables ranged in dates of sale from July 2008 to a current listing. Comparable Sales #1, #3, and #4 all sold in 2008 are considered to be under superior market conditions, with downward adjustments required. Comparable #2 is a current listing and not adjusted. LOCATION/EXPOSURE The Subject Property is located on the north side of N.E. 4th Avenue, between Seacrest Boulevard and 1st Street, in Boynton Beach. Comparables #1, #2, and #3 are located within the immediate vicinity and CRA of the Subject and required no adjustments. Sale #4 is located within an alternative neighborhood, yet is considered similar demographically, with no adjustment required. RF09.141 PARRISH & EDWARDS, INC. 3: SALES ANALYSIS (CONT'D) SIZE The Subject Property contains a total of 37,543 square feet or 0.86 acres of site area. The Comparable Sales analyzed ranged in size from 7,542 to 223,463 square feet and from 0.17 to 5.13 per acres. Typically, larger sites sell for less on a price per square foot and price per acre basis than smaller sites. Conversely, smaller sites typically sell for more on a squafe foot basis than larger sites. Other factors being equal, a smaller site is adjusted downward. Comparable Sales #1 and #3 are similar in size, compared to the Subject, with no adjustment required. Comparable #2 is inferior in size requiring a downward adjustment. Comparable #4 is superior in size, requiring an upward adjustment. UTILITIES The Subject site is currently developed and has all public utilities in place. All of the Comparable Sales are sites with all utilities in place, therefore no adjustment has been made. ZONING The Subject site is zoning R-2, a residential designation. The land use plan calfs for 9.68 dwelling units per acre. Sale #1 is zoned R1A which permits single family dwellings, which is similar to the Subject, considering the total number of units which could be built Is similar. Comparables #2 and #3 have the same zoning as the subject. Sale #4 has a similar zoning. No adjustment is considered to be necessary. PHYSICAL CHARACTERISTICS The Subject site is a vacant site with no physical characteristics which would adversely impact development. All of the Comparable Sales are fated as similar undeveloped sites and considered to be reasonably similar, relative to the Subject, with no adjustments required. RF09-141 PARRISH & EDWARDS, INC. LAND SALES ADJUSTMENT GRID MKT ADJ. ZONING I PHYSICAL TOTAL ADJ. SALE # $/SF FINANCING CONDo $ISF LOCATION SIZE UTILITIES DENSITY CHARACT. ADJ. $ISF 1 $10.51 0% -15% $8.93 0% 0% 0% 0% 0% 0% $8.93 $60,000 0% -15% $51,000 $51,000 2 $8.88 0% 0% $8.88 0% -5% 0% 0% 0% -5% $8.44 $67,000 0% 0% $67,000 $63,650 3 $5.07 0% -15% $4.31 0% 0% 0% 0% 0% 0% $4.31 $43,750 0% -15% $37,188 $37,188 4 $6.18 0% -15% $5.25 0% 10% 0% 0% 5% 15% $6.04 $30,667 0% -15% $26,067 $29,917 $7.66 $6.84 Adjusted Mean $6.93 $50,354 $45,314 $45,454 Parrish & Edwards. Inc. 09.141 33 SALES ANALYSIS (CONT'D) CONCLUSION/PER SQUARE FOOT After adjustments for significant differences, the Comparable Sales ranged from $4.31 to $8.93 per square foot with a mean of $6.93 per square foot. Based on the foregoing analysis, a conclusion of $7.50 per square foot is considered reasonable and well supported for the Subject Property. Therefore, our opinion of market value of the Subject Property, by the SaJes Comparison Approach, on a per square foot basis, as of June 10. 2009, is as follows: 37,543 Square Feet x $7.50/SF = $281,573 lNDICA TED VALUE VIA THE SALES COMPARISON APPROACH TWO HUNDRED EIGHTY THOUSAND DOLLARS $280,000 (ROUNDED) CONCLUSION/PER UNIT After adjustments for significant differences, the Comparable Sales ranged from $29,977 to $$63,650 per unit with a mean of $45,454 per unit. Based on the foregoing analysis, a conclusion of $40,000 per acre X 8 units is considered reasonable and well supported for the Subject Property. Therefore, our opinion of market value of the Subject Property, by the Sales Comparison Approach, on a per acre basis, as of June 10, 2009, is as follows: 8 Units x $40,000/Unit = $320,000 INDICATED VALUE VIA THE SALES COMPARISON APPROACH THREE HUNDRED TWENTY THOUSAND DOLLARS $320,000 (ROUNDED) CONCLUSION After considering both Units of Comparison, value per square foot and value per unit, an overall final reconciliation of value is as follows: THREE HUNDRED THOUSAND DOLLARS $300,000 (ROUNDED) RF09.141 PARRISH & EDWARDS, INC. CONTRACT FOR SERVICES This Contract is .binding upon the appraisal firm of PARRISH & EDWARDS, INC., 3418 W. Mallory Blvd., Jupiter, Florida 33458 (PH: 561/622-9992, FAX: 561/622-9308) hereinafter referred to as The Appraiser, and Local In'tlatlves Support Corporation, attention: Harper Anderson, Esquire, 501 Seventh Avenue, 7th Floor, New York, NY 10018 (Phone: 212-455-9593) hereinafter referred to as The Employer. 1. The Appraiser agrees to provide a written: Summary Report Format of the following property: vacant 0.87+J-acre site located on N.E. 4th Avenue, Boynton Beach, Florida peN #O8-43-45.21-29-O03~0020 and #08-43-45.21 ~29.003-0032 It will conform with and be subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of The Appraisal Institute. 2. The Appraiser agrees to deliver two (2) copies each of the report to The Employer within approximately two to three (2-3) weeks from the signing of this Contract. 3. Based upon The Appraiser's preliminary inspection of the property, the fee will be $2,000.00. 4. The Employer agrees to pay the Appraiser the fee as follows: · $1,000.00 retainer upon the signing of this Contract by the Employer. · The balance upon notification that the report is completed and prior to its delivery. 5. The Appraiser herein shall not be required to give testimony or to attend any public or private hearing in court with reference to the property unless previously agreed. 09~' l\' PAGE 2 OF CONTRACT FOR SERVICES 6. In the event The Appraiser is subpoenaed or otherwise required to give testimony or to attend any public or private hearing as a result of having prepared this report, The Client agrees to pay The Appraiser $200.00 per hour ($1,000.00 minimum) for attendance or testimony required. 7. It is further agreed and understood that if any portion of the compensation or costs due to The Appraiser becomes delinquent. The Employer will pay interest thereon at the rate of 12% per annum on said account from the due date until paid, and further agrees to pay all costs of collection thereof, Including reasonable attorney's fees, court costs, etc. 8. In the event that The Employer desires to cancel this Contract, written notice thereof shall be delivered to The Appraiser, and it is agreed that The Appraiser shall receive compensation from The Employer for all services rendered at the rate of $200.00 per hour for the time actually spent prior to receipt of written notice to stop work, plus all costs advanced in connection with said work prior to receipt of such written notice. 9. The Limiting Conditions which will be incorporated into the body of the report are attached hereto. 10. The lender or its agent is required to directly engage the appraiser, if the purpose of the appraIsal is for a mortgage loan from a federally regulated Institution. Accepted by: LOCAL INITtA TIVES SUPPORT CORPORA nON The Employer ~~ 2- 2COi Date) -~ ~ " ---Z_'/ Bv: V" V' ~ toMRPER AUBER80N. EISVIRI: uw Um v_1IMtdent a Ct.... Parrish & Edwards, Inc. The Appraiser Date Bv: J. Kenneth Parrish, MAJ, SRA State Certified General Appraiser #RZ249 - - - - - -- . (' The Heart of Boynton Redevelopment Master Plan r 1_ ....... t-d.,.. ~'1Id1IlnCdII I ',\I\U"'~ fttCt1flIlII _ Mil",,,, ~ rom...... =""'d~1II NtoUNIIlWl I NtoUIftIy 11 "'lI'IIlbl I .,. PrlPllud land UBB Map 1M 1111 ".11'"1 1IIIrl.. ..........y .......,.. 1I..11I'IIO,fllrllll RD~r.18 r Strategic Planning Group, Inc. 1 (800) 213.PLAN Page 53 ASSUMPTIONS AND LIMITING CONDITIONS i . This is a Summary Appraisal Report, which is intended to comply with the reporting requirements set forth under Standard Rule 2~2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As such, it might not include full discussions of the data, reasoning, and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation concerning the data, reasoning, and analyses is retained in the appraiser's file. The information contained in this report is specific to the needs of the client and for the intended use stated in this report. The appraiser is not responsible for unauthorized use if this report. 2. Unless otherwise stated, the value appearing in this appraisal represents our opinion of the Market Value of the value defined AS OF THE DATE SPECIFIED. Values of real estate are affected by national and local conditions and, consequently, will vary with future changes in such conditions. 3. Possession of this report or any copy thereof does not carry with it the right of publication, nor may it b~ used for other than its intended use. The physical report(s) remain the property of the Appraiser for the use of the client, the fee being for the analytical services only. The report may not be used for any purpose by any person or corporation other than the client or the party to whom it is addressed, or copied without the written consent of an officer of the appraisal firm of Parrish & Edwards, Inc., and then only in its entirety. 4. 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 Parrish & Edwards, Inc.; nor may any reference be made in such public communications to the Appraisal Institute or the MAI/SRAlSRPA designations. 5. 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 or as they may request in confidence for ethics enforcement or by a court of law or body with the power of subpoena. ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D) 6. Analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute. 7. This appraisal is to be used only in its entirety and no part is to be used without the whole report. All conclusions and opinions concerning the analysis which are set forth were prepared by the Appraiser(s) whose signature(s) appear on the appraisal report, unless indicated as Review Appraiser. No change of any item in the report shall be made by anyone other than the Appraiser, and the Appraiser and the firm shall have no responsibility if any such unauthorized change is made. 8. No responsibility is assumed for matters legal in character or nature, nor matters of survey, nor of any architectural, structural, mechanical, or engineering nature. No opinion is rendered as to the title which is presumed to be good and merchantable. The property is appraised as if free and clear, 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, his designee, or public records. We are not liable for such information or the work of possible subcontractors. The comparable data relied upon in this report has been confirmed with one or more parties familiar with the transaction or from affidavit. All are considered appropriate for inclusion to the best of our factual judgment and knowledge. 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 apprais~1 in full or in part nor engage in post-appraisal consultation with client or third parties, except under separate and special arrangement and at an additional fee. ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D) 11. Liability of Parrish & Edwards, Inc. and its subcontractors is limited to the fee collected for preparation of the appraisal. There is no accountability of liability to any third party. 12. The sketches and maps in this report are included to assist the reader in visualizing the property 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. 13. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which made it more Of less valuable. The Appraisef assumes no responsibility for such conditions or the engineering which might be required to discover these facts. No topographical survey was provided. 14. 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 the conjunction with any other appraisal, no matter how similar, and are invalid if so used. 15. No environmental or impact studies, special market studies or analyses, 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. The Appraiser reserves the unlimited right to alter, amend, revise, or rescind any of the statements, findings, opinions, values, estimates, or conclusions upon any subsequent such study or analysis of previous study or analysis, subsequently becoming known to him. 16. The market value estimated and the cost used are as of the date of the estimate of value. All dollar amounts are based on the purchasing power . and price of the dollar as of ,the date of the value estimate. 17. This appraisal expresses our opinion and employment to make this appraisal was in no way contingent upon the reporting of a predetermined value or conclusion. The fee for this appraisal or study is for the service rendered and not for the time spent on the physical report. ASSUMPTIONS AND LIMITING CONDITIONS (CONT'O) 18. The value estimate in this appraisal report is gross without consideration given to any encumbrance, restriction, or questions 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, national origin of the present owners, or occupants of the properties in the vicinity of the property appraised. 19. In this appraisal assignment, the existence of potentially hazardous material used in the construction or maintenance of the building, such as the presence of urea formaldehyde foam insulation, and/or the existence of toxic waste, which mayor may not be present on the property, has not been considered. The Appraiser is not qualified to detect such substances. We urge the client to retain an expert in this field, if desired. Unless otherwise stated in this report, the existence of hazardous substances, including without limitation asbestos, polychlorinated biphenyls, petroleum leakage, or agricultural chemicals, which mayor may not be present on the property, or other environmental conditions, were not called to the attention of nor did the Appraiser become aware of such during the Appraiser's inspection. The Appraiser has no knowledge of the existence of such materials on or in the property unless otherwise stated. The Appraiser, however, is not qualified to test such substances or conditions. The presence of such substances such as asbestos, urea formaldehyde foam insulation, or other hazardous substances or environmental conditions may affect the value of the property. The value estimate is predicated on the assumption that there is no such condition on or in the property or in such proximity thereto that it would cause a loss in value. No responsibility is assumed for any such conditions, nor for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in the field of environmental impacts upon real estate, if so desired. ASSUMPTIONS AND LIMITING CONDITIONS (CONT'D) 20. The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraiser has not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of the act. If so, this fact could have a negative effect upon the value of the property. Since the appraiser has no direct evidence relating to this issue, possible noncompliance with the requirements of ADA was not considered in estimating the value of the property. 21. ACCEPTANCE OF, AND/OR USE OF, THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. QUALIFICATIONS OF APPRAISER JOHN KENNETH PARRISH, JR., MAl, SRA STATE CERTIFlED GENERAL APPRAISER #RZ249 PERSONAL Born in Winter Haven, Florida. Resident of Treasure Coast Area for 44 years. Licensed as a Broker with Florida Real Estate Commission #0404285. PROFESSIONAL DESIGNATIONS Member - The Appraisal Institute MAl Certificate No. 7980 SRA Senior Residential Appraiser EDUCATION Florida Atlantic University: B.A. Degree In Business Administration, 1982. PROFESSIONAL COURSES Society of Real Estate Appraisers Course 102, July 1983 Society of Real Estate Appraisers Course 201, October 1983 Society of Real Estate Appraisers Course 202, November 1984 Society of Real Estate Appraisers Course 101, May 1985 SREA Narrative Demonstration Report, June 1986 SREA Experience Evaluation completed, February 1987 American Institute Course #2 - 3, March 1985 American Institute Course #IA -I, March 1986 American Institute Course #/A - 2, March 1986 American Institute Course #IB - A, September 1986 American Institute Course #IB - B, September 1986 American Institute Course #2 - I, March 1987 American Institute Course #2 - 2, July 1987 AIREA Narrative Demonstration Report, January 1988 American Institute Comprehensive Exam, February 1988 AIREA Experience Evaluation Completed October 1988 Appraisal Institute Litigation Valuation Course, March 1991 Served as a Special Master to oversee Tax Appeals for Palm Beach County Qualified as an Expert Witness, Palm Beach, Martin, Broward and Nassau County Circuit Courts J. Kenneth Parrish ICont'd) SEMINARS ATTENDED (LAST 5 YEARS) National USPAP Update Course (June 2004) Business Practices and Professional Ethics Course 420 (June 2004) Subdivision Valuation (October 2005) Florida State Law Course (November 2005) National USPAP Update Course (December 2005) Appraisal Principles (March 2006) Real Estate Mortgage and the Law (March 2006) Neighborhood Analysis (March 2006) Appraising from Blueprints and Specifications (April 2006) Communicating the Appraisal (February 2007) Summary Appraisal Report (April 2007) National USPAP Update Course (March 2007) Sales Comparison Approach (March 2007) Continuing Education (April 2007) Analyzing Operating Expenses (April 2007) FL RE Law (February 2007) The Income Approach (April 2007) Forecasting Revenue (September 2007) Supervisorffrainee Roles and Rules (April200B) PROFESSIONAL SERVICE Candidate Guidance Chairman, SREA Chapter #200, 1989-1990 Vice President/Admissions Chairman, SREA Chapter #200, 1990 President Elect, Appraisal Institute, Palm Beach Chapter, 1991 President, Appraisal Institute, Palm Beach Chapter, 1992 Served on Appraisal Institute Experience Review Committee 1989-2000 TYPES OF VALUATION/CONSULTATION SERVICES PERFORMED Appraisals Leasehold & leased Fee Appraisal Reviews Valuations Condemnation Market Studies Court Testimony Reproduction/Replacement Estate Valuations Cost Estimates Feasibility Studies Partial Interests Highest and Best Use Studies Tax Assessment Appealsllmpact Studies WORK EXPERIENCE Partner, appraisal firm of Parrish & Edwards, Inc. July 1985 - Present Principal Golf Investment Advisors - October, 1998 to June, 2001 QUALIFICATIONS OF APPRAISER W. ROGER FAIN, JR. STATE CERTIFIED RESIDENTIAL APPRAISER #RD1358 PERSONAL Native Born of Palm Beach County, Florida. EOUCA TION Graduate, University of Florida, B.A. Degree, 1976. PROFESSIONAL COURSES Society of Real Estate Appraisers, Course 201, 1985 Society of Real Estate Appraisers, Courses 101 + 102, 1984 Appraisal Institute, Course 600, Appraisal of Mixed Use Properties, Income Approach, 1997 Appraisal Institute, Course 610, Appraisal of Mixed Use Properties, Cost Approach. 1997 Appraisal Institute, Course 620, Appraisal of Mixed Use Properties, Sales Comparison Approach, 1998 Marshall & Swift Cost Seminar, 1992 Appraisal Institute Seminar, Appraisal of Local Retail Properties, 1998 Appraisal Institute, Course 530, Advanced Sales Comparison and Cost Approaches, 1998 Appraisal Institute Seminar, Lease Analysis, 1999 Appraisal Institute, Course 320, General Applications, 1999 LICENSE AND CERTIFICATION State of Florida, Real Estate Broker #0166362 State of Florida, Certified Residential Appraiser #RD0001358 EXPERIENCE Parrish & Edwards, Inc. - June 1999 to Present Residential Appraiser since 1983 in South Florida working for Financial Institutions and Appraisal Firms. W. ROGER FAIN. JR. (CONT' D) TYPES OF VALUATION/CONSULTATION SERVICES PERFORMED 1 to 4 Family Dwellings Medical Office Condominiums Single Tenant Office Buildings Multi-Tenant Office Buildings Cold Storage Food Processing Facilities Restaurant and Lounges Package Stores and Lounges Vacant Land Single Tenant Retail Buildings Mixed-Use Properties Apartment Buildings Single Tenant Warehouses Multi-Tenant Warehouses ~~~~Y~T2~ eRA . East Side-West Side-Seas"lde Rena"lssance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda IX I Old Business New Business Legal Other SUBJECT: HOB Strategies - Consideration of Purchasing Public Art for Heritage Park SUMMARY: The art pieces on the Avenue of the Arts are for sale and will be traded out for new art pieces. Staff has confirmed that Public Art can be included as part of the Seacrest streetscape redesign. The Community Committee went on a trolley tour of the CRA district and viewed the public art pieces available. The Committee selected the piece "Joyous Dance" (See Attached Information Sheet). The piece will be located in Heritage Park (See Attached Map). The price of the piece has been reduced from $3,600 to $3,200. The CRA will store the piece of art in 211 East Ocean Avenue until it is ready for installation in Heritage Park. FISCAL IMPACT: $3,200 CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan, Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Purchase the art. (jj~1U- ViVian L. Brooks Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\HOB - Public Art.doc Ii :) Butterfly Mandela "Joyous Dance" (2007) Material: Kinetic; anodized painted aluminum sealed with automotive epoxy paint Dimensions: 3" diameter x .25" disk that rotates on top of a 30" x 24" x 24" base, 40 lbs. Value: $3,600.00 :) Artists: Deborah 8: Len Marucci Venice, FL email: debmar22@msn.com J ~ ~ ~ ~ ~ ~ .~ ~ \ ...... ~ (J ~ ~ ~ ~ d S ....... ~ (J Q ,.J ( ~~r<._ ~ .""., .'.f' ,C "~. lIJ~~<!Y~T8~~C iii East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal I I Other SUBJECT: Consideration of Lease Renewal with Glaston Sims d/b/a Alex Sims Barber Shop located at 909 N. Seacrest Boulevard SUMMARY: At the June 9, 2005 CRA Board meeting, a Purchase Agreement was approved for the acquisition of 909 N. Seacrest Boulevard in the amount of $223,725. The property was owned by Glaston Sims, Javaro Sims and Guam Sims. The property consists of a 4,800 sf parcel of land with a 1,097 sf concrete block building housing a two bay barbershop and beauty salon. Acquisition of the property included a lease agreement between the CRA and Glaston Sims, d/b/a Alex Sims Barber Shop to remain in operation at the annual lease amount of$1O.00. The lease terms provided the Tenant the right to sublet the beauty salon bay to Solomon and Evangeline Mack d/b/a Ruby's Beauty Center and to collect the rental fees. All maintenance, insurances and utilities are the responsibility of the Tenant as specified in the lease agreement. The August lO, 2005 lease has expired and Glaston Sims continues to occupy the building with a tenancy at will or on a month-to- month basis. The lease arrangement is comparable to other CRA owned properties which are leased at a nominal fee (Jesus House of Worship). Rental rates ofa nominal fee prevent the CRA from incurring exorbitant real estate taxes for attempting to collect market rents (recall the CRA tax liability for the Relax Inn Site (SW comer Boynton Beach BoulevardlFederal) FISCAL IMP ACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan and Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Staff recommends the following options: 1. Renew the lease set forth under the current terms of $1 0.00 per year including the ability for the Tenant, Glaston Sims to sublet the second bay. 2. Negotiate new lease terms establishing a new rental rate and subletting abilities. 3. Continue under the current lease as a "tenancy at will, on a month to month basis." 4. Terminate the lease and fmd a new tenant. 5. Terminate the lease and sell the property. " <... ichael Simon, Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Lease renewal Sims Barber Shop.doc GOREN, CHEROF, DOODY & EZROL, P.A. ATTORNEYS AT lAW SUITE 200 3099 EAST COMMERCIAL BOULEVARD FORT lAUDERDALE, FLORIDA 33308 SAMUEL S. GOREN JAMES A. CHEROF DONALD J. DOODY KERRY l. EZROL MICHAEL O. CIRUllO, JR TElEPHONE (954) 771-4500 FACSIMILE (954) 771-4923 JUl.IE F. Kl.AHR DAVID N. TOLCES RICHARD J. DEWITT, III NOEMll.OPEZ JAMllA ALEXANDER STEVEN I.. JOSIAS, OF COUNSEl August 12, 2005 BY REGULAR MAIL Mr. Douglas Hutchinson Executive Director Boynton Beach Community Redevelopment Agency 639 East Ocean Drive, Suite 107 Boynton Beach, Florida 33435 Re: Boynton Beach eRA Purchase fi'011l Sims I Executed Lease Agreement Dear Mr. Hutchinson: In connection with the above transaction, enclosed please find the original fully executed Lease Agreement along with the $10.00 personal check No. 1032, as legal consideration, for your records. We will send you the closing documents and the Owner's Title Insurance Policy at such time the documents are returned to us after they are recorded in the public records of Palm Beach County, Florida. Should you have any questions, please do not hesitate to contact us, Ene. H:\200S\OS0243\OS-GS-12 Letter to BBCRA enc Lease Agreement.doc COMMERCIAL LEASE AGREEMENT . THIS LEASE AGREEMENT is made and entered into this '2 '6 day of it. P (t I L , 2005, by and between the Boynton Beach Community Redevelopment Agency (hereinafter referred to as "Landlord"), and Glaston Sims d/b/a Alex Sims Barber Shop, (hereinafter referred to as "Tenant"). ARTICLE I - GRANT OF LEASE Landlord, in consideration of Ten ($10.00) Dollars (receipt of which is hereby acknowledged) and the covenants and agreements to be performed and observed by the Tenant, does hereby lease to the Tenant and the Tenant does hereby lease and take from the Landlord the property described in Exhibit "A" attached hereto and by reference made a part hereof (the "Leased Premises"), together with, as part of the parcel, all improvements located thereon. ARTICLE II - LEASE TERM tI1 $ection 1. Total Term of Lease. The term of this Lease. shall begin on the 10 of 8.VGOSr, 2005, and shall terminate on AU&JST JO"Tli, 200 ~ . ARTICLE 111- RENT Landlord hereby acknowledges receipt of Ten ($10.00) Dollars as payment in full for the term of the lease. ARTICLE IV - IMPROVEMENTS No structures or improvements of any kind shall be placed upon the property without the prior written approval of Landlord. ARTICLE V - UTILITIES Tenant shall pay for all water, sanitation, sewer, electricity, light, heat, gas, power, fuel, janitorial, and other services incident to Tenant's use of the Leased Premises, whether or not the .cost thereof be a charge or imposition against the Leased Premises'. ARTICLE VI - OBLIGATIONS FOR REPAIRS Landlord shall have no obligation to make repairs to any portion of the Leased Premises. Commercial Lease A!:,_ ~ement Page 2 of 8 ARTICLE VII - TENANT'S COVENANTS Tenant covenants and agrees as follows: a. To procure any licenses and permits required for any use made of the Leased Premises by Tenant, and upon the expiration or termination of this Lease, to remove its goods and effects and those of all persons claiming under itt and to yield up peaceably to Landlord the Leased Premises in good order, repair and condition in all respects; excepting only structural repairs (unless Tenant is obligated to make such repairs hereunder) and reasonable wear and tear; b. To permit Landlord and its agents to examine the Leased Premises at reasonable times and to provide Landlord, if not already available, with a set of keys for the purpose of said examination, provided that Landlord shall not thereby umeasonably interfere with the conduct of Tenant's business; c. To maintain the Leased premises in safe condition and repair and at it's sole cost and expense, correct or remove any matter that would violate applicable law or constitute a dangerous or objectionable condition. ARTICLE VIII - INDEMNITY BY TENANT The Tenant shall save Landlord harmless and indemnify Landlord from all injury, loss, claims, actions or damage to any person or property while on the Leased Premises and any related expense, including attorney's fees, unless caused by the willful acts or omissions or gross negligence of Landlord, its employees, agents, licensees or contractors. Tenant shall maintain, with respect to the Leased Premises, comprehensive general liability insurance with limits of not less than one million dollars for injury or death from one accident and $500,000.00 property damage insurance, insuring Landlord and Tenant against injury to persons or damage to property on or about the Leased Premises. A copy of the policy or a certificate of insurance shall be delivered to Landlord on or before the commencement date and no such policy shall be cancelable without ten (10) days prior written notice to Landlord. ARTICLE IX- USE OF PROPERTY BY TENANT The Leased Premises may be occupied and used by Tenant exclusively as a barber shop and beauty salon and those uses incidental thereto. 2 Commercial Lease Ai;- _cment Page 3 of 8 Nothing herein shall give Tenant the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any sublessee, assignee, or licensee, which or who shall use the property for any other use. ARTICLE X . CONDEMNATION If, after the execution of this Lease and prior to the expiration of the term hereof, any portion of the Leased Premises shall be taken under power of eminent domain by any public or private authority, or conveyed by Landlord to said authority in lieu of such taking, then this Lease and the term hereof shall cease and terminate as of the date when possession of the Leased Premises shall be taken by the taking authority and any unearned rent or other charges, if any, paid in advance, shall be refunded to Tenant. ARTICLE XI . DEFAULT In the event that Tenant shall be in default of this Lease, Landlord may pursue all remedies available at law or equity. In the event of default by Landlord, Tenant may terminate this Lease or seek specific performance. ARTICLE XII - HAZARDOUS MATERIALS Any activities in any way involving hazardous materials or substances of any kind whatsoever, either as those terms may be define9 under any state or federal laws or regulations, or as those terms are understood in common usage, are specifically prohibited. The use of petroleum products, pollutants, and other hazardous materials on the property is prohibited. Tel}ant shall be held responsible for the performance of and payment for any environmental remediation that may be necessary, as determined by the Landlord, within the property. If any contamination either spread to or was released onto adjoining property as a result of Tenant's use of the property, the Tenant shall be held similarly responsible. The Tenant shall indemnify, defend, and hold harmless the Landlord from any claim, loss, damage, costs, charge, or expense arising out of any such contamination. ARTICLE XIII - SUBLETTING Landlord acknowledges and hereby approves Tenanfs subletting ofthe Leased Premises to Solomon Mack and Evangeline Mack d/b/a Rubie's Beauty Center ("Sub- Tenant"). Tenant shall be responsible to provide all appropriate notices to Sub-Tenant relating to the terms of this Lease including without limitation, its termination date. ARTICLE XIV - MISCELLANEOUS 3 Commercial Lease Ab- .ement Page 4 of 8 Section 1. Quiet Enjoyment. Landlord covenants and agrees that upon Tenant observing and performing all of the terms, covenants and conditions on Tenant's part to be observed and performed hereunder, that Tenant may peaceably and quietly have, hold, occupy and enjoy the Leased Premises in ~ccordance with the terms of this Lease without hindrance or molestation from Landlord or any persons lawfully claiming through Landlord. Section 2. Holding Over. In the event that Tenant or anyone claiming under Tenant shall continue occupancy of the Leased Premises after the expiration of the term of this Lease or any renewal or extension thereof without any agreement in writing between Landlord and Tenant with respect thereto, such occupancy shall not be deemed to extend or renew the term of the Lease, but such occupancy shall continue as a tenancy at will, from month to month, upon the covenants, provisions and conditions herein contained. The rental shall be the rental in effect during the term of this Lease as extended or renewed, prorated and payable for the period of such occupancy. Section 3. Waivers. Failure of either party to complain of any act or omission on the part of the other party, no matter how long the same may continue, shall not be deemed to be a waiver by said party of any of its rights hereunder. No waiver by either party at any time, express or implied, of any breach of any provision of this Lease shall be deemed a waiver of a breach of any other provision of this Lease or a consent to any subsequent breach of the same or any other provision. Section 4: Notices. All notices and other communications authorized or required hereunder shall be in writing and shall be given by mailing the same by certified mail, return receipt requested, postage prepaid, and any such notice or other communication shall be deemed to have been given when received by the party to whom such notice or other communication shall be addressed. Section 5. Assignment. Lessee shall not assign this Lease without first obtaining the written consent of the Landlord. Section 6. Invalidity of Particular Provision. If any term or provision of this Lease or the application hereof to any person or circumstance shall, to any extent, be held invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law. Section 7. Captions and Definitions of Parties. The captions of the Sections of this Lease are for convenience only and are not a part of this Lease and do not in any way limit or amplify the terms and provisions of this Lease. The word "Landlord" and the pronouns referring thereto, shall mean, where the context so admits or requires, the 4 Commercial Lease AI:,. ~ement Page 5 of 8 persons, firm or corporation named herein as Landlord or the mortgagee in possession at any time, of the land and building comprising the Leased Premises. Any pronoun shall be read in the singular or plural and in such gender as the context may require. Except as in this Lease otherwise provided, the terms and provisions of this Lease shall be binding upon and inure to. the benefit of the parties hereto and their respective successors and assigns. Nothing contained herein shall be deemed or construed by the parties hereto nor by any third party as creating the relationship of principal and agent or of partnership or of a joint venture between the parties hereto, it being understood and agreed that neither any provision contained herein, nor any acts of the parties hereto, shall be deemed to create any relationship between the parties hereto other than the relationship of Landlord and Tenant. Section 8. Brokerage. No party has acted as, by or through a broker in the effectuation of this Agreement. Section 9. Entire Agreement. This instrument contains the entire and only agreement between the parties, and no oral statements or representations or prior written matter not contained in this instrument shall have any force and effect. This Lease shall not be modified in any way except by a writing executed by both parties. Section 10. Waste. Tenant shall occupy the leased premises in a careful and proper manner and not commit any waste thereon. Section 11. Governing Law. All matters pertaining to this Lease (including its interpretation, application, validity, performance and breach) in whatever jurisdiction action may be brought, shall be governed by, construed and enforced in accordance with the laws of the State of Florida. The parties herein waive trial by jury and agree to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Palm Beach County, State of Florida. In the event that litigation results from or arises out of this Lease or the performance thereof, the parties agree to reimburse the prevailing party's reasonable attorney's fees, court costs, and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be entitled. In such event, no action shall be entertained by said court or any court of competent jurisdiction if filed more than one year subsequent to the date the cause(s) of action actually accrued regardless of whether damages were otherwise as of said time calculable. IN WITNESS WHEREOF, the parties hereto have executed this Lease the day and year first above written or have caused this Lease to be executed by their respective officers thereunto duly authorized. 5 Commercial Lease Agreement Page 6 of8 Signed, sealed and delivered in the presence of: WITNESSES: ~ '7knofd&ltb f:rMfosq 7 /. AWAeeuA ~ZL\ WITNESSESS: APPROVED BY eRA BOARD (SEE p~ 6) By: Title: Date executed: Date executed: r::J8/1010S )/M4d~ilhI~ Date executed: t2~~)xJS- Commercial Lease Agreement Page 7 of 8 EXHIBIT A LEGAL DESCRIPTION Lot 145, Block D of BOYNTON HILLS, according to the plat thereof, as recorded in Plat Book 4, Page 51 of the Public Records of Palm Beach County, Florida. Street Address: 909 N Seacrest Boulevard, Boynton Beach, Florida 33435 Commercial Lease Ab- ..:ement Page 8 of 8 WITNESSES: , r ~k., ~ I! / 1.- /' /~ ~'CDL-6 ~~1 C);4 BUYER: APPROVED BY eRA BOARD By: ' Chair, Jeanne Heavilin ~.(t~lr V:~l/4- !. tJ !/OO/Cf Printed Name Date Executed: --11'l~ 10) 2 t/a5" 1:\Clienl Documents\Boynlon Beach CRA\2419.QOO\Misc\Commerciat Lease Agreemenl-KWD.doc 8 ~~~~Y~T8~ C Ii East SideNWest S"ldeNSeaside Rena"lssance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: Consideration of Purchase Contract with Michael Villamarin for the property located at 201 NE 9th Avenue SUMMARY: At their June 9, 2009, meeting, the CRA Board approved entering into a Purchase Contract of $210,000 for the property located at 210 NE 9th Avenue. The property is adjacent to several parcels currently owned by the City of Boynton Beach and the Phase I project area. The contract terms provided the CRA with a due diligence period of 45 days in order to perform an appraisal to verify the property's value relative to the contract price. The appraisal has been completed by Callaway & Price and a market value of $130,000 was established. Staff has discussed the appraisal results with the Seller and has been told that he would not sell at the $130,000 value. The property consists of an existing 1,100 square foot duplex with a lot size approximately 55ft x 150ft in size. The duplex would be demolished post closing and the parcel would be utilized in conjunction with other CRA/City parcels for future redevelopment opportunities. FISCAL IMP ACT: Up to $210,000 to come from Project Fund 02-58200. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan and the Downtown Master Plan RECOMMENDATIONS: Staff recommends the Board consider the following options: 1. Cancel the current Purchase Contract under the terms of the due diligence period. 2. Attempt to negotiate a counter-offer price above the appraisal value but less than the current contract price. "- ~~~ Michael Simon Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Appraisal results for Villamarin purchase.doc PURCHASE AGREEMENT Page t of 12 PURCHASE AGREEMENT This Purchase Agreement (hereinafter "Agreement") is made and entered into as of the Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part ill, of the Florida Statutes (hereinafter "eRA") and Michael VilIamarin, a single man (hereinafter "SELLER"). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHJ\.SE AND SALE/PROPERTY. SELLER agrees to sell and convey to CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located in Palm Beach County, Florida (the "Properties") and more particularly described as fonows and is subject to verification by a survey: Address: 201 NE 9th Avenue, Boynton Beach, Florida Legal Description: Lot 172, ARDEN PARK ADDITION to Boynton Beach, according to Plat thereof, as recorded in Plat Book 22809, Page 0596, of the Public Records of Palm Beach County, Florida Parcel Number: 08-43-45-21-18-000-1720 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Two Hundred Ten Thousand and 001100 Dollars ($210,000.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 13. DEPOSIT. 3.1 Earnest Money De,posit. Within five (5) Business Days after the Effective Date, Purchaser shall deliver to Goren, Cherof, Doody & Ezrol, P.A.("Escrow Agenf') a deposit in the amount of Five Thousand Dollars ($5,000.00) Dollars (the "Deposit"). 3.2 AWlicationIDisbursement of Deoosit The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter dermed) for any reason, the Deposit shall be immediately refunded to the eRA. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party shall have such additional rights, if any, as are provided in Section 12. IUserslvmike07lDownloadsl2nd_Michact Vil/amarin_PA_S-26-09.doc 1 PURCHASE AGREEMEN'F Page 2 of 12 3.3 Escrow Agent. eRA and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this Agreement. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to CRA and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 4. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS: EFFECTIVE DATE. If this Agreement is not executed by and delivered to all parties on or before June 10, 2009, the Deposit will, at CRA's option, be returned and this offer shall be deemed withdrawn. Unless otherwise stated, the time for acceptance of any counteroffers shall be five (5) days from the date the counteroffer is delivered. The date of this Agreement (the "Effective Date") shall be the date when tbe last one of the CRA and SELLER has signed or initialed this offer or the final counteroffer. 5. CLOSING. The purchase and sale transaction contemplated herein shall close on or before August 14, 2009 (the "Closing"), unless extended by other provisions of this Agreement or by written agreement, signed by both parties, extending the Closing. 6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to CRA, by Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined), valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions except only the following (collectively, the "Permitted Exceptions"): (a) covenants, conditions, easements, dedications, rights-of-way and matters of record included on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof. . 7. FEASIBILITY PERIOD. CRA, and CRA's agents, employees, designees, Contractors, surveyors, engineers, architects, attorneys and other consultants (collectively, "Agents") shall have forty five (45) days from the Effective Date of this Agreement ("Feasibility Period"), at CRA's expense, to make inquiries of, and meet with members of Governmental Authorities regarding the Property and to enter upon the Property, at any time and from time to time with reasonable notice to SELLER and so long as said investigations do not result in a business interruption, to perform any and all appraisals, physical tests, inspections, and investigations of the Property, including but not limited to Phase I and Phase II investigations, whicb eRA may deem necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to tenninate this contract and receive back all Deposits hereunder. If eRA elects to terminate this Agreement in accordance with this Section, CRA shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject to such disturbance as was reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the Property by CRA's IUserslvmike07IDownloadsl2nd_Micbac'- Villamarin_PA_S-26-09.doc 2 PURCHASE AGREEMENT Page 3 of 12 testing and investigation; and (iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's testing and investigation. CRA hereby agrees to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to CRA (including, without limitation, any construction liens resulting therefrom) or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. However, CRA's indemnification obligations shall not exceed its statutory limits as provided within Section 768.28, Florida Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to SELLER or for damage to persons or property (subject to the limitation on practicability provided above) arising out of CRA's investigation of the Property. SELLERS' obligations under this Section shall survive the termination, expiration or Closing of this Agreement. 7.1 SELLER' Documents: SELLER shall deliver to CRA the following documents and instruments within five (5) days of the Effective Date of this Agreement: copies of any reports or studies (including environmental, engineering, surveys, soil borings and other physical reports), permits, licenses, variances, building plans, and engineering plans in SELLER' possession or control with respect to the physical condition of the Property, if any. 7.2 Title Review. Within ten (10) days of the Effective Date, CRA shall obtain, at the CRA's expense, from legal counsel for the CRA, a Title Commitment covering the Property and proposing to insure CRA in the amount of the Purchase Price subject only to the Permitted Exceptions, together with complete and legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title Commitment. CRA shall examine the Title Commitment and deliver written notice to SELLER no later than twenty (20) days after the Effective Date notifying SELLER of any objections CRA has to the condition of title (hereinafter "CRA Title Objections"). If CRA fails to deliver the CRA Title Objections to SELLER within the aforesaid review period, title shall be deemed accepted subject to the conditions set forth in the Title Commitment. If CRA timely delivers the CRA Title Objections, then SELLER shall have thirty (30) days to diligently and in good faith undertake all necessary activities to cure and remove the CRA Title Objections (hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured and removed, the eRA Title Objections within the Cure Period, to the satisfaction of CRA, then CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in which case, the Deposit shall immediately be returned to CRA and the Parties shall have no further obligations or liability hereunder, except for those expressly provided herein to survive termination of this Agreement. Prior to the Closing, eRA shall have the right to cause the Title Company to issue an updated Title Commitment ('1'itle Update") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, CRA shall have the right to object to such new or different conditions in writing prior to Closing. All rights and objections of the Parties with respect to objections IUserslvrnike071Downloadsl2nd _Michacl_ Villamarin_PA_5-26..09.doc 3 PURCHASE AGREEMENT Page 4 of 12 arising from the Title Update shall be the same as objections to items appearing in the Title Commitment, subject to the provisions of this Section. 7.3. Survey Review. CRA, at CRA's expense, may obtain a current boundary survey (the "Survey") of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section 7.3 concerning title objections. 8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the purchase of the Property unless each of the following conditions (collectively, the "Conditions to Closing") are either fulfilled or waived by CRA in writing: 8.1. Representations and Warranties. All of the representations and warranties of SELLER contained in this Agreement shall be true and correct as of Closing. 8.2 Approval bv CRA Board. The Purchase Agreement is contingent upon the approval and authorization by the CRA Board. 8.2. Condition of Pronertv. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pendimz: Proceedinis. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Compliance with Laws and Re~uIations. The Property shall be in compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occ~pncy. The property shall be conveyed to the CRA at time of closing unoccupied. The SELLER hereby warrants that the current tenants are on a month-to- month basis, were given proper notice to vacate and there are no leases on the property. 8.6 Verification of PurchsRe Price. The eRA and SELLERS agree that this Agreement is contingent upon the Purchase Price being verified by an independent appraisal to be conducted by a professionally qualified and licensed appraiser at the CRA's expense. If the Purchase Price exceeds the appraised value, the eRA shall have the right to terminate this Agreement under the terms of Section 7 of this Agreement. 9. CLOSING DOCUMENTS. The CRA shall prepare, or cause to be prepared, the Closing Documents set forth in this Section, except for documents prepared by the TItle Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered, IUserslvrnike07/Downloadsl2nd_MichaeL Villamarin]A_S-26-09.doc 4 PURCHASE AGREEMENT Page 5 of 12 to CRA the following documents and instruments: 9.1. Deed. A Warranty Deed (the "Deed") conveying to CRA valid, good) marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances and other conditions of title other than the Permitted Exceptions. 9.2 SELLER'S Affidavits. SELLER shall furnish to CRA an owner's affidavit attesting that, to the best of its knowledge, no individual or entity has any claim against the Property under the applicable construction lien law; and that there are no parties in possession of the Property other than SELLER. SELLER shall also furnish to CRA a non-foreign affidavit with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced above, the same shall be deemed an uncured title objection. 9.3. Closing Statement. A closing statement setting forth the Purchase Price, the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute and deliver at Closing. 9.4. Corrective Docwnents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as CRA may reasonably request that SELLER execute and deliver, and any other documents required by this Agreement or reasonably necessary in order to close this transaction and effectuate the terms of this Agreement. 10. PRORATIONS. CLOSING COSTS AND CLOSING PROCEDURES. 10.1. Prorations. Taxes, assessments, rents, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. eRA shall have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to be made through the day prior to Closing. Advance rent and security deposits, if any, will be credited to eRA. Taxes shall be prorated based upon the current year's tax with due allowance made for maximum allowable discount. If Closing occurs at a date when the current year's millage is not fIxed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of tax bill. 10.2. Special Assessment Liens. Certified, confirmed and ratified special assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending liens as of Closing shall be assumed by eRA. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. /Uscrs/vmike07IDownloBdsI2od_Michael_ Villamarin]A_S-26-09.doc 5 PURCHASE AGREEMENT Page 6 of 12 10.3. Closing Costs. SELLER shall pay for all documentary stamps on the deed, recording the deed and half of all general closing expenses (settlement fee, courier fees, overnight package, etc.). All other costs of closing shall be borne by CRA. 10.4 Closing Procedure. CRA shall fund the Purchase Price subject to the credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i) disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a ''marked-up'' Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable Closing Documents in the appropriate public records. 10.5 Existing Mortgages and Other Liens. At Closing, SELLER shall obtain, or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments applicable to and encumbering the Property. 11. REPRESENTATIONS. COVENANTS AND WARRANTIES. 11.1SELLER's Representations and Warranties. SELLER hereby represents, covenants and warrants to CRA, as of the Effective Date and as of the Closing Date, as follows: 11.2. Authoritv. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its tenns. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. 11.3. Title. SELLER is and will be on the Closing Date, the owner of valid, good, marketable and insurable fee simple title to the Property, free and clear of all liens, encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances of record which will be discharged at Closing). 12. DEFAULT. 12.1. Purchaser's Default. In the event that this transaction fails to close due to a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph 12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall have any further obligation or liabilities under this Agreement, except for those expressly provided to survive the termination of this Agreement; provided, however, that CRA shall also be responsible for the removal of any liens asserted against the Property by persons claiming by, through or under CRA, but not otherwise. eRA and SELLER acknowledge that if CRA defaults, SELLER sole remedy shall be retention of the deposit. CRA and SELLER agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture provision. IUserslvmike07lDownloadsllmLMicbacl_ Villamarin]A_S-2fMl9.doc 6 PURCHASE AGREEMENT Page 7 of 12 12.2. SELLER Default. In the event that SELLER shall fail to fully and timely perform any of its obligations or covenants hereunder or if any of SELLER~S representations are untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, eRA may, at its option: (1) declare SELLER' in default under this Agreement by notice delivered to SELLER, in which event eRA may terminate this Agreement and demand that the Deposit be returned, including all interest thereon if any, in accordance with Section 3 and neither Party shall have any further rights hereunder or (2) seek specific performance of this Agreement, without waiving any action for damages. 12.3. Notice of Default. Prior to declaring a default and exercising the remedies described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party describing the event or condition of default in sufficient detail to enable a reasonable person to determine the action necessary to cure the default. The defaulting Party shall have fifteen (15) days from delivery of the notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions oftbis Section 12 shall survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shall be considered delivered when received by certified mail, return receipt requested, or personal delivery to the following addresses: If to SELLER: Michael Villamarin 1124 NW 11th Street Boynton Beach, FL 33426-2956 Ifto Buyer: Lisa A. Bright, Executive Director Boynton Beach Community Redevelopment Agency 915 S. Federal Highway Boynton Beach, FL 33435 PH: 561/737-3256 FX: 561/737-3258 James Cherof eRA Attorney 76 NE 5th Avenue Defray Beach, FL 33483 14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shall inure to the benefit of, the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the plior written consent of CRA, which shall not be unreasonably withheld. CRA shall With a copy to: IUsers/vmike07lDownloadsllndflichaeL Villamarin_PA _S-26-09.doc 7 PURCHASE AGREEMENT Page 8 of 12 have the right to assign this Agreement to the City of Boynton Beach (the "City") without the prior consent of SELLER and the CRA shall be released from any further obligations and liabilities under this Agreement. The CRA may not assign this Agreement to any other party without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to time), shall apply. 15. BROKER FEES. The SELLER and BUYER hereby states that they have not dealt with a real estate broker in connection with the transaction contemplated by this Agreement and are not liable for a sales commission. SELLER shall indemnify, defend and hold harmless the CRA from and against any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's fees) of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by SELLER on its behalf with any broker or finder in connection with this Agreement. The provisions of this Section shall survive Closing or termination of this Agreement. 16. Environmental Conditions. 16.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant, petroleum, petroleum product or petroleum by-product as defined or regulated by environmental laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal, state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions. 16.1.1 As a material inducement to eRA entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (1) That SELLER and occupants of the Property have obtained and are in full compliance with any and all pennits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER' knowledge. (2) SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the Property. SELLER is not aware nor does it have any notice of any past, present or future events, conditions, activities or practices on contiguous property that is owned by SELLER which may give rise to any liability or form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant affecting the SELLER property. (3) There is no civil, criminal or administrative action, suit, claim, demand, investigation or notice of violation pending or, to the best of that entity's knowledge, threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the Property, any portion thereof, or on any contiguous property owned by SELLER. /Userslvrnike07JDownloadsl2nd_MichaeL Vdlamarin_PA_S-26-09.doc 8 PURCHASE AGREEMENT Page 9 of 12 16.2 Additional Warranties and Representations of SELLER. As a material inducement to CRA entering into this Agreement, SELLER, to the best of SELLER' information and belief, hereby represents and warrants the following: 16.2.1 There are no pending applications) permits, petitions, contracts) approvals, or other proceedings with any governmental or quasi-governmental authority, including but not limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies, concerning the use or operation of, or title to the Property or any portion thereof and SELLER has not granted or is not obligated to grant any interest in the Property to any of the foregoing entities. 16.2.2 There are no facts believed by SELLER to be material to the use, condition and operation of the Property in the manner that it has been used or operated, which it has not disclosed to CRA herein, including but not limited to unrecorded instruments or defects in the condition of the Property which will impair the use or operation of the Property in any manner. 16.2.3 To the best of SELLER' knowledge, the Property and the use and operation thereof are in compliance with all applicable county and governmental laws, ordinances) regulations, licenses, permits and authorizations) including) without limitation, applicable zoning and environmental laws and regulations. 16.3 SELLER Deliveries. SELLER shall deliver to CRA the following documents and instruments within ten (to) days of the Effective Date of this Agreement, except as specifically indicated: 16.3.1 Copies of any reports or studies (including engineering, environmental, soil borings, and other physical inspection reports), in SELLER' possession or control with respect to the physical condition or operation of the Property, if any. 16.3.2 Copies of all licenses, variances, waivers, permits (including but not limited to all surface water management permits, wetland resource permits, consumptive use permits and environmental resource permits), authorizations, and approvals required by law or by any governmental or private authority having jurisdiction over the Property, or any portion thereof (the "Governmental Approvals")) which are material to the use or operation of the Property, if any. 16.3.3 Prior to the Closing Date, SELLER shall execute and deliver to CRA any and all documents and instruments required by CRA, in CRA's sole and absolute discretion, which: (i) effectuate the transfer to CRA of those Governmental Approvals) or portions thereof which are applicable to the Property, that CRA desires to have assigned to it, and/or (ii) cause the Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the Governmental Approvals (including but not limited to any and all portions of the surface water management system, mitigation areas or other items which do not comply with the Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at the time of Closing, any unrecorded instruments affecting the title to the Property, including, but not limited to any conveyances, easements, licenses or leases. IUserslvmike07/Downloadsl2nd~Michael_ Villamarinj>A_5-26-09.doc 9 PURCHASE AGREEMENT Page 10 of 12 17. MISCELLANEOUS. 17.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States District Court for the Southern District Court of Florida. 17.2. Computation of Time. Any reference herein to time periods which are not measured in Business Days and which are less than six (6) days, shall exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5 :00 p.m. on the next full Business Day. Time is of the essence in the performance of all obligations under this Agreement. Time periods commencing with the Effective Date shall not include the Effective Date in the calculation thereof. 17.3. Waiver. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a party with knowledge of a breach of this Agreement by the other party in the performance of their respective obligations hereunder, shall be deemed a waiver of any rights or remedies that a party may have or a waiver of any subsequent breach or default in any of such terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination of this Agreement and the Closing. 17.4. Construction of Agreement. The Parties to this Agreement, through counsel, have participated freely in the negotiation and preparation hereof. Neither this Agreement nor any amendment hereto shall be more strictly construed against any of the Parties. As used in this Agreement, or any amendment hereto, the masculine shall include the feminine, the singular shall include the plural, and the plural shall include the singular, as the context may require. Provisions of this Agreement that expressly provide that they survive the Closing shall not merge into the Deed. 17.5. Severability. If any provision of this Agreement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Agreement nor the application of the provision to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions of this Section shall apply to any amendment of this Agreement. IUserslvmike07lDownloadsl2nd_MichaeC Villamarin ]A_S-26-09.docl 0 PURCHASE AGREEMENT Page II of 12 17.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement and initialed by CRA and SELLER shall control all printed provisions in conflict therewith. 17.7 Waiver of JUly Trial. As an inducement to CRA agreeing to enter into this Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by either party against the other party pertaining to any matter whatsoever arising out of or in any way connected with this Agreement. 17.8. Attornevs Fees and Costs. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including those at the appellate level, shall be awarded to the prevailing party. 17.9 Bind.or Authority, Each party hereby represents and warrants to the other that each person executing this Agreement on behalf of the CRA and SELLER has full right and lawful authority to execute this Agreement and to bind and obligate the party for whom or on whose behalf he or she is signing with respect to all provisions contained in this Agreement. 17.10 Recording. This Agreement may be recorded in the Public Records of Palm Beach County, Florida. 17.11 Survival. The covenants, warranties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of the SELLER Property Deed and CRA's possession of the Property. 17.12 SELLER Attornevs' Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective date, By: I Pr' v'Name: Title: Chair ~. WitnecC:1_:: ~tness s: SELLER JfL J \ ~'1 \ 0 e... Print Name: Michael Villam ' , a single man BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY /Users/vrnike07/Downloadsl2nd_MichaeL Villamarin]A_S-26-09.docI1 1!~~ctY~T8~C RA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda IX I Old Business New Business Legal Other SUBJECT: Boynton Beach Adopted Downtown Master Plan - Action Plan & Goals and Guiding Principles SUMMARY: At the June 9, 2009 CRA meeting, Commissioner Rodriguez requested suggestions received by the Community Committee be addressed in the Master Plan. He suggested the proposals be applied to the downtown area and cottage district. He wanted to know what ideas were being done to redevelop the downtown area. (Tab 1) The City Commission's adoption of Ordinance 08-035 on January 20, 2009 of the Boynton Beach Downtown Master Plan solidified key redevelopment opportunities within the CRA District. The Plan itself unifies all previous redevelopment plans into a comprehensive twenty year work program for the CRA. The planning area is identified on the attached map. (Tab 2) In 2003, the City and CRA collaborated on how best to create a viable downtown by implementing a new zoning category for mixed-use projects with special high density. This extremely high density would be a huge redevelopment enticement for the development community. Always with the goal in mind of increasing the tax base in the Central Business District (CBD) it would generate revenue to reinvest and revitalize the Heart of Boynton. (Tab 3) From the period of 2003-2004, the agency's redevelopment program was solely based on the following redevelopment plans: . 1983 - Community Redevelopment Plan . 2001 - Federal Highway Corridor Community Redevelopment Plan . 2001 - Heart of Boynton Community Redevelopment Plan . 2001 - Ocean District Community Redevelopment Plan From the period 2004-2006, the redevelopment program aggressively changed to meet the demands of the private sector. This was accomplished by adopting the following plans: . 2004 - Boynton Beach Boulevard Corridor Plan . 2005 - Urban Design Guidelines . 2006 - Federal Highway Corridor Plan Update T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7 -14-09 Meeting\BBDowntownMasterPlan-ActionPlan 1.doc It was not until after the October 20,2006, Boynton Beach Assembly: Committing to Our Future/that the CRA Board determined the creation of one Master Plan was essential to create a sustainable downtown core. (Tab 4) Throughout 2007 to 2009 staff brought forward various recommendations and/or ideas for board consideration. (Tab 5) The adoption of the BB Downtown Master Plan has a horizon time line with a twenty year life span. The 5-year action plan is the first step and is underway. (Tab 6) The Plan's identified Goals & Guiding Principles are also underway. An example of the "Historic Inventory" is included. (Tab 7) Marketing, Events and Downtown Promotions are ongoing. Staff works with shopping center owners to keep abreast of space availability, rental rates, leasing challenges, etc. We attempt to collaborate with center owners to consider promotional events within their shopping centers. (Tab 8) Staff is promoting the downtown businesses by providing FREE staff assistance with ensuring they have signed on with "Google" Mapping service and would like to have the staff shoot a 30 second video clip of their business. (Tab 9) The Commissioners often ask staff to do more research on items before implementing and/or do not necessarily approve of activities the first time around. Staff is in the various stages of bringing some of these items forward once again. (Tab 10) Additional ideas for board consideration will depend upon the final budget numbers presented at the Budget Workshop in August. Attached are some concepts or ideas as requested. (Tab 11) FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: Boynton Beach Downtown Masterplan RECOMMENDATIONS: None T:\AGENDAS, CONSENT AGENDAS. MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\BBDowntownMasterPlan-ActionPlan 1.doc TAB 1 T:\ADMINlSTRATIVE\Temp}ates\Tab Pages.doc ", !!:!iht, Lisa From: Sent: To: Cc: Subject: Bright, Lisa Friday, June 26, 2009 4:25 PM 'jreguez@aol.com' Taylor, Jerry; Hay, Woodrow; Ross, Marlene; Weiland, Ronald FW: DMP Review Attachments: DMP Update.doc; BB Downtown Master Plan-5 year Action Plan.pdf rWii~ ~ ~ DMP Update.doc (479 KB) BB Downtown "'aster Plan-S year.. Commissioner Rodriguez, At the June 9th CRA meeting, we delivered a chronological progress report on the December 16, 2008 adoption of the DMP. We are finalizing our research. For example we are researching the idea of a Revolving Loan Fund. We had to review line- by-line the city's list of Occupational/Business Licenses for the entire CRA District to extrapolate the 15 businesses existing in HOB. Staff is now in a position to recommend a Revolving Loan Fund for the entire CRA District to serve retention of all 500 existing businesses and support new business development. The HOB plan is a component of the Downtown Master Plan as you can from the attached 5- year action plan. I expect us to mail out a finalized hard copy of our findings next week which should leave ample time to meet. Enjoy your weekend, Lisa From: jreguez@aol.com [mailto:jreguez@aol.com] Sent: Friday, June 26, 2009 8:16 AM To: Bright, Lisa Subject: Fwd: DMP Review our next meeting is fast approaching and i have not heard back on the ideas .... Best, Jose -----Original Message----- From: jreguez@aol.com <jreguez@aol.com> To: Bright, Lisa Sent: Fri Jun 19 19:53:27 2009 Subject: Re: DMP Review yes, I do. .but again.. I would like for you and staff to develop a list of ideas as per the minutes that were suppose to be presented at the last meeting. We are several weeks past that deliverable. If we get the ideas down, it would then coincide with funding and budget review. I will await those ideas, in hopes that you will have them prior to next meeting for our review and discussion. Best, 1 Jose -----Original Message----- ~rom: Bright, Lisa <BrightL@bbfl.us> ~: jreguez@aol.com ~c: Taylor, Jerry <TaylorJ@bbfl.us>; Hay, Woodrow <HayW@bbfl.us>; Ross, Marlene <RossM@bbfl.us>; Weiland, Ronald <WeilandR@bbfl.us> Sent: Fri, Jun 19, 2009 10:51 am Subject: FW: DMP Review based upon the minutes from 6-09-09 (see attached or, "It was noted the Downtown Master Plan would not be shelved and staff would bring back ideas at the next meeting.") we are kicking around ED plan (adopted 12/08) implementation ideas to brin g forward budget based recommendations to the board. Final CRA budget numbers will not be available until after August 2nd and in time for the Board's August budget workshop. If you want to meet prior to the July 14th Board, let me know. Lisa From: Bright, Lisa Sent: Friday, June 12, 2009 1:20 PM To: jreguez@aol.com Cc: Taylor, Jerry; Hay, Woodrow; Ross, Marlene; Weiland, Ronald Subject: RE: DMP Review Will do. irom: jreguez@aol.com [mailto:jreguez@aol.com <mailto:jreguez@aol.com?> ] Sent: Thursday, June 11, 2009 9:25 PM To: Bright, Lisa Subject: Re: DMP Review based on the minutes i read at the end of the meeting, please let me know when you will have those ideas and then we can set a date to discuss Best, Jose -----Original Message----- From: Bright, Lisa <BrightL@bbfl.us> To: jreguez@aol.com Sent: Wed, 10 Jun 2009 10:33 am Subject: DMP Review Good morning Jose, Please send me three times/dates that work for you on getting together. Lisa Bright OA Executive Director Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33435 561-737-3256 ')61-737-3258 (fax) rightl@bbfl.us <mailto:brightl@bbfl.us> 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida JU'''~, ~Q()9 XVII. Comments by CRA Board Mr. Rodriguez referenced a discussion in the May 12, 2009 minutes, under, "New Business, n Item A. Comments had been received by the Community Committee relating to property improvements. At the time, Mr. Rodriguez had inquired whether any of the suggestions received by the Community Committee had been addressed in the master plan. As they had not, he suggested the proposals be applied to the downtown area and cottage district. The minutes reflected the item would be brought back to the Board in order for the implementation aspects of the Downtown Master Plan to be expanded. It was noted the Downtown Master Plan would not be shelved and staff would bring back ideas at the next meeting. With regard to the proposed ordinance approved at the last Commission meeting creating a civilian CRA Board, Mr. Weiland requested the Commissioners on the prevailing side consider delaying the process at least until the budget cycle had been completed. In addition to the budget, there were a number of serious issues facing the current CRA Board, and Mr. Weiland did not feel it was the appropriate time for a new board to assume the responsibilities of the current CRA Board. Mr. Hay believed the points expressed by Mr. Weiland were valid and as such, he had no objection to establishing a reasonable and acceptable timeline for a smooth transition of the CRA Agency Board. In response to her inquiry, Ms. Ross was advised the July 4th celebration would be similar to last year's celebration at the Intracoastal Park building. Ms. Biscuiti noted the event would be sponsored by the Town of Ocean Ridge. XVIII. Adjournment There being no further business to discuss, the meeting properly adjourned at 8:49 p.m. /' {:) c-J..6j<':" -.,' ,.. / Stephanie D. Kahn Recording secretary 060909 16 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida May 12, 2009 Mr. Weiland inquired about the economic development grants to improve interiors and exteriors. Staff responded the Facade Grant program had changes. Business owners build-out their interiors, which is more expensive than painting an exterior. Sometimes the exterior of the building does not need improvement. Most businesses need help with their interiors; however, businesses cannot not receive assistance from the City. The Board received this type of request in the past and the Board was not receptive to the request. Ms. Bright expressed it was a worthy program. There were not very many programs to help with expansion and it appeared to be a deterrent for launching small business development. As a result, staff had to identify where the deficits were and how to address them. The grant was only available once every three years. Staff was reviewing appropriate changes to make in the program, however, after discussion, it was decided the item would be discussed at the end of the budget. Mr. Weiland inquired if setting funds aside for a micro-loan fund would put the Community Redevelopment Agency in the position of being in the banking business. Ms. Brooks clarified it would not; it would be handled through the Community Loan Fund which has loan officers and handles collections. Staff would work with the business and bring them forward. The Community Loan Fund was a non-profit agency, funded in partnership with the County, and partially by the bank membership, similar to a federal home-loan bank concept. It was dedicated to minority- owned and micro-businesses. Small loans are issued and the loans are collateralized. It was also similar to the service provided by the Community Development Corporations to the Community Redevelopment Agency. They were intermediaries. Chair Taylor shared Mr. Weiland's concern and thought funding interior repairs should be examined more closely. The micro-loan program was a revolving loan. Collateral could be inventory, equipment, or personal property. Ms. Bright suggested the Loan Fund could act as the intermediary, and staff appropriate monies. She indicated staff would bring additional information back to the Board, specifically about what happens if the business failed, and if there was a service charge or fee. Staff may request the Loan Fund make a presentation to the Board. Other Community Redevelopment Agencies utilize revolving loan funds and loan guarantees for banks for businesses. Ms. Bright explained the type of programs offered were contingent on the needs of the community. These types of concepts would benefit the downtown area and Ms. Bright was asked if the programs were restricted to the Heart of Boynton. It was explained staff was addressing the Heart of Boynton; however, the concepts could benefit downtown businesses. Mr. Rodriguez explained he emailedMs.Bright about what was being done to redevelop the downtown area. Ms. Bright did not recall the email.Mr. Rodriguez did not copy the other Board members on the email.ltwasagreedtheitemwouldbeputonafutureagenda.Ms.Bright clarified the Economic Development Plan regarding the Downtown Redevelopment was not approved until December of 2008. The initiatives were all new. There was money in the budget and staff could implement a district-wide plan. Mr. Weiland indicated legally, monies designated for the Heart of Boynton were not voted on. There was discussion the concept was discussed at a workshop; however, Chair Taylor recalled it occurred at a special meeting. Discussion at that meeting included a question about what would happen to the funds set aside for the Auburn Group, and there was agreement to leave the money in the Heart of Boynton. 8 IVleeting lvlinutes Regular City Commission Boynton Beach, FL January 6, 2009 Mayor Taylor and Mr. Bressner noted the event had been held on Congress Avenue in 2001 or 2002 and was not successful. Congress Avenue was very busy, traffic had been at a standstill, and parking was not available. Commissioner Ross questioned whether the timing was currently more favorable. Mr. Bressner suggested staff could conduct an analysis and present it to the Commission or CRA if authorized by the Commission to do so. There was no consensus to move the Parade to Congress Avenue. XII. LEGAL: A. Ordinances - 2nd Reading - Development - PUBUC HEARING None B. Ordinances - 2nd Reading - Non-Development - PUBUC HEARING 1. Proposed Ordinance No. 08-035 RE: Approving the amendment to the Community Redevelopment Plan to Incorporate the Downtown Master Plan and components thereof regarding Community Policing Innovation Program and funding programs for infrastructure improvements or upgrades necessary to implement the goals and objectives of the Community Redevelopment Plan which include greater density and enhanced publiC space. (Rsquest to table) Attorney Cherof noted the request to table was current, as a notice issue existed. The Downtown Master Plan that was attached as an exhibit to the ordinance was being printed by an outside source and was not yet available. Attorney Cherof read Proposed Ordinance No. 08-035 by title only on second reading. Motion Commissioner Ross moved to table. Commissioner Hay seconded the motion. The motion passed unanimously. C. Ordinances - 1st Reading None D. Resolutions: None E. Other: None 14 Meeting Minutes Regular aty Commission Boynton Beach, FL January 20, 2009 XI. NEW BUSINESS: A. Review and consideration of approval of Aubum Master Development Agreement. (Proposed Resolution No. R09-DZ8) (ThIs Item was previously tabled) B. Approval of the Oty of Boynton Beach cost sharing with the Community Redevelopment Agency in supporting the Palm Beach County Business Development Board's 2009 Familiarization Program (FAM). The cost to the Oty is $1,000. It was determined that the cost covered only one partidpant. Motion Vice Mayor Rodriguez moved to approve Item XI.B. Commissioner Ross seconded the motion. The motion passed unanimously. XII. LEGAL: A. Ordinances - 2nd Reading - Development - PUBUC HEARING None B. Ordinances - 2nd Reading - Non-Development - PUBUC HEARING 1. Proposed Ordinance No. 08-035 RE: Approving the amendment to the Community Redevelopment Plan to incorporate the Downtown Master Plan and components thereof regarding Community Policing Innovation Program and funding programs for Infrastructure improvements or upgrades necessary to implement the goals and objectives of the Community Redevelopment Plan which Indude greater density and enhanced publiC space. (TllbIed on Jllnuary 4 2009) Attorney Cherof read Proposed Ordinance No. 08-035 by title only on second reading. Motion Commissioner Ross moved to remove the item from the table. Commissioner Hay seconded the motion. The motion passed unanimously. Mayor Taylor opened the Issue for public hearing. Bob Brown, 701 S. Seacrest, asked f'Or clarification of the intent of the ordinance. Attorney Cherof responded the Community Redevelopment Plan could be modified from time to time by 22 Meeting Minutes Regular City Commissiorl Boynton Beach! FL January 20, 2009 the City Commission. It incorporates a document referred to as the Downtown Master Plan and elements of that particular Plan. The Community Redevelopment Agency began the process, but only the City Commission can amend the Plan itself. Vice Mayor Rodriguez understood the policing had been in effect for over a year. Attorney Cherof indicated the Plan was now catching up with the agreements between the City and the Community Redevelopment Agency. The Plan itself was not binding on either party. Motion Vice Chair Rodriguez moved to approve Item XU.B.l. Commissioner Ross seconded the motion. ~ City Clerk Prainito called the roll. The vote was 5-0. 2. Proposed Ordinance No. 09-001 RE: Rescinding Ordinance 05-044 which reclassified the Land Use from Local Retail Commercial (LRC) to Special High Density Residential (SHDR), a parcel of land located at the northwest comer of South Federal Highway and Gulfstream Boulevard; restoring Local Retail Commerdal (LRC) Land Use to the properly. Attorney Cherof read Proposed Ordinance No. 09-001 by title only on second reading. Mayor Taylor opened the Issue for public hearing. Bob Brown, 701 S. Seacrest, inquired if the request had been passed by the Community Redevelopment Agency Board. Mayor Taylor confirmed It had. Mr. Brown questioned If the Commission should be sitting as the Community Redevelopment Agency Board. The difference in the tax base and possible revenue was also a concern of Mr. Brown. Mayor Taylor advised the composition of the Community Redevelopment Agency Board was not at issue. The rezoning request was made by the property owner and would inaease the tax base since commercial pays more tax. Attorney Cheraf added only the City Commission can designate land use or zoning. No one else coming forward, Mayor Taylor closed the public hearing. Motion Vice Mayor Rodriguez moved to approve Proposed Ordinance No. 09-001. Commissioner Hay seconded the motion. Y.o.m City Clerk Pralnlto called the roll. The vote was 5-0. 23 TAB 2 T:\ADMINISTRATIVE\Templates\Tab Pages.doc ..., ." . -'-' ~'':1 -- ......._~.. - - 5! l! i I t5i3 ~ti!t~ ~tli~~il!-.I!I ~ ii!i iil11.i ot~]~18sil!li u:ll~Wli.;i~i<~ ~ ii}j EJil.'~Ji c..-il=:l'll<: 10'15'" ffif '~jl_!:i I- ~_~€ ~-~~li5' Vl:!!C-1! f- t!! ~~if!~jil~.l!r ~ -'., '~:.;:. ..~ :> ~ ...-,~:'; ~ ., 'I. .;;' .C ._ J r ,.., ~~ ~~? ,. ~. .'. : ""4:' "t,~'.':l ',' [11fi. __~ ,'1' ..r-_-.~~' <..-.....,::.i.~.J: c'. . ~"",,": '~"--';..L Tlf' .~ r I, ..: . uJ. i :." ..... .~r 1. \ L 11.'" ...;;:~ .'! '"", ~ {- ~ ~"..~.) .--"'" :or-...; ~ ~"'# ~ . , .'.' ,', ." '.,~ · "-, "-' l,t-,~l,'l ~,':f ," -.~ lo.~. ..", -~&'" --::-.:........:: J 'It -:.~", . ~ . ,i ) ('1'"':' ' -...-, .,_ ~ '.. J .-'. ~ ":"~. - Jo,,,-.j '.":1.; f' _m .~ f_,;.'.' .,; ..il.... ,I .. I ~S:'~', ."~ ':f5 '. - ~: , ,:'G~j:~!(:r;;~):i -~'l r ....1.""'-..1 ,.-. '. .. ,. ".t.\ '<-" .. r. ",;. ,,>,1.. '.' :Cl!. ~. ....;:.:. ~..;-' ,..~-r~ t-' ..'l ~.'.' J q '\0f~ - ".: ./ r. 'T..;: 1 ~:~:~ ~ r .. 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" -:;0:;-.. 1 ~~I,~ ~~-.:;;~..> ' - ~...._:~.~~ 1~~~~~.~,~i~~~~:~: ~ , I , a j' 1:~ ..,.....~ ti-'\"'{H ~l.:.-.:.:..- " r-' ~: J TAB 3 T:\ADMINISTRATIVE\Templates\Tab Pages.doc The City of Boynton Beach City Clerk's Office 100 E BOYNTON BEACH BLVD BOYNTON BEACH FL 33435 (561) 742-6060 FAX: (561) 742-6090 e-mail: prainitoj@cLboynton-beach.fl.us www.boynton-beach.org CITY COMMISSION 8r. COMMUNITY REDEVELOPMENT AGENCY WORKSHOP TUESDAY, APRIL 29, 2003 6:30 PM - LIBRARY PROGRAM ROOM AGENDA 1. Introductions (5 minutes - all times below are approximates to guide length of meeting) 2. Why are we doing this? (i.e. Redevelopment as an economic necessity) - (15 Minutes by Quintus Greene) 3. The Issues Facing the City in the Core CBD Area a. Overview of Pending Projects by Staff - Project Elements and Design (10 Minutes by Doug Hutchinson) b. Infrastructure Issues in CBD Area (10 Minutes by Kurt Bressner) c. Mixed-Use Zoning - Why does it work? (10 Minutes by Dick Hudson) d. Overview of the CRA Incentive Program (15 Minutes by Doug Hutchinson) e. Should new development help pay for impacts (Police, Fire, Traffic[Transportation, Cultural, Parking)? (15 Minutes by Kurt Bressner) f. Should a Downtown Development Authority Be Explored? (15 Minutes by Quintus Greene) 4. The Role of the City and the CRA in the Heart of Boynton (15 Minutes by Wilfred Hawkins) 5. Membership in the CRA - What are the Statutory Qualifications to Serve? Can a local community require additional qualifications? (15 Minutes by Jim Cherof) 6. Is the Federal Highway Plan Working the Way it Should? (15 Minutes by Quintus Greene) 7. Adjournment America's Gateway to the Gulfstream MINUTES OF THE JOINT CITY COMMISSION AND COMMUNITY REDEVELOPMENT AGlNCY WORKSHOP MEmNG HELD IN THE UBRARY PROGRAM ROOM ON TUESDAY, APRIL 29, 2003 AT 6:30 P.M. p.IJCAn" CItv Commission Mike Ferguson, Vice Mayor Ron Weiland, Commissioner Mack McCray, Commissioner Carl McKoy, Commissioner Kurt Bressner, City Manager Wilfred Hawkins, Asst. CIty Manager James Cherof, City Attorney Janet Prainfto, City Oerk Quintus Greene, Development Director Ab..nt Gerald Broening, Mayor CommunItY RedeveIoament AGencv Larry Rnkelsteln, Chairman Jeanne Heavllin, Vice Chair Jose Aguila AI DeMarco Don Fenton Michelle Hoyland Henderson lillman Doug Hutchinson, CRA Director Undsey Payne, Asst. CIty Attorney 1. Introductions (5 minutes - all times below are approxillllltes to guide length of meeting) In Mayor Broening's absence, Vice Mayor Ferguson called the workshop to order at 6:30 p.m. All present at the table Introduced themselves. 2. Why are we doing this? (i.e. Redevelopment as an economic ....Ity) - (15 Minutes by Quintus Greene) Mr. Greene distributed two handouts titled, "Selected Economic Comparison" and "PrIncipal Taxpayers". Mr. Greene said these two handouts explain why we are doing this. As of the Yur 2002 Atlas of Bovnton Beach. the #1 and #2 principal taxpayers In the City were Boynton JCP Associates (Boynton Beach Mall) and Motorola. The next three principal taxpayers were rental apartment complexes. Motorola is no longer in the Oty of Boynton Beach. Therefore, redevelopment 15 necessary for the economic viability of the City. The City of Boynton Beach Is the third largest municipality in Palm Beach County. The "Selected Economic Comparison" handout compares Boynton Beach, Delray Beach, Boca Raton and west Palm Beach. Boynton Beach has a population of 62,847 compared to 61,627 In Delray Beach. These two cities are almost Identical In population. However, when comparing median household Incomes, Boynton Beach ranks lower at $39,845 than Delray at $43,371. Boynton Beach ranks higher In med1an household income than West Palm Beach at $36,n4. In Boca Raton, the median household income Is $60,248. 1 MEmNG MINUTES JOINT CITY COMMISSlON/CRA WORKSHOP BOYNTON BEACH, FLORIDA APRIL 29, 2003 Mr. Greene detailed the following information pointing out that the tax rate in the City of Boynton Beach is twice that of Boca Raton and slightly lower than Delray Beach and west Palm Beach. However, the Oty of Boynton Beach General Fund expenditure per person is much lower than those of any of the munidpalities used in the comparison. The City of Boynton Beach provides superior programs for its citizens and this information is proof that we are doing a great deal for our citizens with a lot less money. Munlcipellty Taxable Property Property' Genw1II fund General PuncI Value ($) Tax Rate Budget Expendlblres ...- Bovnton Beach 2,901,352,510 7.995 48.813.915 7n Delrav Beach 4.167.822,706 8.??oo 65.853.020 1.069 Boca Raton 11.669.541.416 3.5385 94.898.700 1.256 West Palm Beach 6.069.796,520 8.5421 118.912.358 1.380 The purpose of this redevelopment is to compensate for the loss of one of the Oty's major taxpayers. Our property tax values are meager compared to other cities and this redevelopment is our attempt to enhance property values within this City. Our choices are to expand our tax base, raise property taxes or reduce services to our citizens. Mr. Greene explained that in another community in which he worked, a consultant analyzed the cost of services to citizens and determined that a Single-family property would have to be valued at $150,000 in order to pay enough taxes for the services required. In Boynton Beach, there is a significant amount of property that pays little or no taxes. Given that reality, we must do other things to compensate for that loss of tax dollars. Commissioner McKoy requested that he be provided with a breakdown of the properties that are paying little or no property taxes. 3. The 1_ Facing the CIty In the Core CIID Area a. overview of Pending PrGjedlI by Ilia" - PI4Jec:.t Elements and Dellen (10 Mln.... by Doug Hutc:ttlnlon) Doug Hutchinson distributed copies of two documents. One of the documents was titJed, "Community Redevelopment Agency - Central Business District Development Briefing" and the second document was a memo from Mr. Hutchinson to the CRA Board dated April 26, 2003 regarding Downtown Development Analysis. Mr. Hutchinson reported that the CSO Development Briefing booklet contained details regarding the proposed projects, slgnage and maps. A similar document will be developed for the Heart of Boynton area. Mr. Hutchinson explained that the Central Business District Is 82 acres In size. Parks, churches, BeIISouth or previously redeveloped projects encompass approximately 41 acres of the CBD. That leaves only one-half of the total acres available for redevelopment. Approximately 7% of 2 MEmNG MINUTES JOINT CITY COMMISSlON/CRA WORKSHOF BOYNTON BEACH, FLORIDA APRIL 21, 2003 the redevelopment capability In the downtown will be buildings that will be above 100'. This amounts to approximately three acres with densities of over 100'. The entire CRA has 1,650 acres. Therefore, only 2% of the entire CRA would have building heights of 100' or above. This change to higher densities will affect only this one area and will result In .G9O.000.0OQ~ in..--f;? assessed tax value. In addition, this new density would generate 15% of the new tax base for the entire community. Mr. Hutchinson Is confident that because the new proposed core area would generate 15% of the new tax base, the enclave neighborhoods would become sought- after places to live. b. Infrastructure Issues in CBD Area (10 Minutes by Kurt Bn!lSIfter) Mr. Bressner advised that even before any Interest was expressed to redevelop the downtown, Utilities was working on upgrades. With regard to sanitary sewer, Mr. Bressner advised that Master LIft Station 356 is the City's largest lift Station located at the end of Boynton Beach Boulevard. This lift Station services the area that Is bounded on the north by the C-16 Canal, on the south by Gulfstream Boulevard, 1- 95 on the west and the Intracoastal on the east. Utilities determined that upgrades were needed and the study is almost 50% complete at this time. With respect to potable water, staff has heard from South Florida Water Management District and we are confident that our permit will soon be issued to go from 16 million gallons per day to 22 million gallons per day. We do not have the permit yet, but SFWMD Is satisfted with the data and will forward their positive recommendation to the Board of Directors on May 12th. The pipe size In the core area is fine at 24". The big issue was pumping capadty, but that was addressed through work with SFWMD. With regard to stormwater, Mr. Bressner reminded everyone that the City acquired property and built Pond "B" (Mangrove Walk at the Marina). There Is approximately 40% capadty left In Pond "B". It will be necessary to watch the runoff rates as development proceeds because that remaining capacity could be consumed very quickly. Commissioner Weiland recalled that another pond that would be located south of Ocean Avenue and east of the railroad tracks was under consideration about four years ago. He questioned whether that area was stili being considered. Mr. Bressner was of the opinion that this property was stili under consideration. Vice Mayor Ferguson questioned whether the developers would pay for the Infrastructure improvements. Mr. Bressner responded affirmatively and explained that they pay for water and sewer as It crosses their property. He added that he would not oppose a recapture agreement whereby the developers would front the money for Installation of larger piping and then as a facility Is utilized, they would pay the difference of going from a 12" line to a 24" line. Commissioner McCray requested that the public be kept Infonned of the fact that the City of Boynton Beach has enough water for these new projects. 3 MEEnNG MINUTES JOINT CITY COMMISSlON/CRA WORKSHOP BOYNTON BEACH, FLORIDA APRIL 29, 2003 Mr. Hutchinson added that an engineering firm is currently performing a study for the proposed projects and we are beginning to get a better feel for capacity and design. c. Mixed-Use Zoning - Why does It work? (10 Minutes by Dick Hudson) Dick Hudson, Senior Planner, offered the history of taxpayer blocks and zoning. He explained that after World War IT, Americans had a dream of a home In the suburbs. As these areas grew, commercial and residential uses became separated. Population spread over a greater area and opportunities for mass transit were lost. Shopping malls developed gradually and all but eliminated small downtowns where people used to shop. In 1996, it became obvious that the push to the west was not only destroying the Everglades, but it was also clearing out the cities' coastal areas. Eastward Hot was organized as a means to start reusing these areas and to encourage redevelopment. The last census told us that the family unit is changing. Many families no longer want large homes in the suburbs. There is a renewed interest In urban IMng with shopping within walking distance. Since we cannot rely on the residents from the suburbs to support the commercial development in the urban area, the challenge came In trying to create this type of IMng. One of the greatest obstacles has been zoning. After reviewing many models, we learned that the Zoning Code needed to be changed. The Mixed-Use zoning category provides what we are looking for. Staff Is hopeful that this zoning change will help bring Hfe back to the streets. There will be opportunities for dining, shopping and mass transit. In addition, adding office space above the commercial uses provides an opportunity for people to work in the downtown. The plan is not perfect, but there will be opportunities to make minor adjustments. Staff Is already aware of the fact that we would like addItJonal setbacks as the buildings get taller. d. Overview of the eRA Incentive Program (15 Minutes by Doug Hutx::hIIl8Oll) Mr. Hutchinson distributed a booklet titled, "Direct Incentive Program" and explained that this program has the most impact on large-scale projects. The CRA wanted a program so that when the developers look to us for assistance, we can offer Information on the amount of assistance we can provide. This program is performance based so that the developers must perform in order to get an incentive. The purpose of this program Is to put tax base on the tax rolls. This Is a short-term program. Mr. Hutchinson said that one thing that was investigated was the project cost for Infrastructure upfront. Fifty percent Is the maximum that could be awarded, but the developer would get more in the early years and less In the later years of the project. Many of the very costly Items come up at the front end of a project. The Board will also look at a guarantee of bonds for infrastructure. Because we want the projects to pay this cost, the developers will be on the line first. this Is one aspect that is In the Idea stage at present. This program will be reviewed on a case-by-case basis and the scoring system is included in the booklet. The good news Is that there are mechanisms avaflable for developers to come in and the cost of utilities can be fronted. Staff would forward the scores to the Board. The Board's decision would be final. The Board would be happy to pass that notification to the Commission. The Incentive funds that will be provided are from the llF income. 4 MEmNG MINUTES JOINT arv COMMISSION/CRA WORKSHOP BOYNTON BEACH, FLORIDA APRIL 29, 2003 Vice Mayor Ferguson questioned whether or not a limit Is recommended on the front load. Mr. Hutchinson responded affirmatively and explained that this percentage would also depend on the developer. This would be for benchmark projects. Commissioner McKoy asked If the incentives mirror anything In Jacksonville. Mr. Hutchinson said 34 CRAs throughout Rorida were reviewed. This program Is a hybrid. The Rorlda Redevelopment Agency (FRA) is looking at this as a pilot program because we would require an Impact study. e. Should new development help pay for impacts (Pollee, Fire, TraffIC/Transportation, CUltural, Parking)? (15 Minutes by Kurt Bressner) Mr. Bressner said the answer to the question is yes; however, the real question is, "how"? There are elements in place for developers to pay for some of the items. The City of Boynton Beach has a fire assessment and for the next four years, they will pay for fire enhancements. In the Year 2001 calculations, we did not antldpate the redevelopment. There will be a lower cost to other commercial and residential in the community because of that redevelopment. When the original disCussions of the fire assessment took place, we were aiming toward four fire stations. We may now have to talk about 4.5 fire stations. This new half fire station would be a presence in the downtown that would also provide an ALS engine. Staff Is stili sorting this out and will provide Information as it becomes available. Under the County's traffic regulations, new residential consb'uctlon is exempt from the traffic impact program. The residential does not have to be counted in terms of accounting for trips east of 1-95. However, that does not solve the problem of traffic flow. This raises the possibility of establishing a traffic system that provides revenues from overall traffic impact fees paid Countywide. We must be able to prove that we can handle alternatives to the car, and that may Indude a trolley system. Mr. Bressner recalled that the CRA took a small step last year by charging $1,000 per parking space. It may be necessary to modify that fee to pick up the pace to cover the cost of parking. Deck parking Is $13,000 to $15,000 per space In Florida. Staff will look at the Impact of the multiplier. In the Central Business District, cash in lieu of parking makes sense. With regard to c;:ultural activities, Mr. Bressner explained that part of the cultural activities Issue Is taken care of through Parks. We modified the Impact donation and what we need to calculate Is an estimate of the new fee schedule based on the units coming In. We wit! have to get creative and look to sponsorships and developers stepping forward to respond to this challenge. The Police issue will be the toughest Issue to handle. When you look at the overall tax rate from the eRA, you must remember that we are working off dollars from 20 years ago. We might have to say that we will be able to provide basic service based on the 1983 figure. If enhanced security services are desired, the development community must step up to the plate and cover the costs to meet those addttlonal services. 5 MErnNG MINUTES JOINT CITY COMMISSION/CRA WORKSHOP BOYNTON BEACH, FLORIDA APRIL 29, 2003 When Commissioner Weiland asked for examples of other communities that are doing this, Mr. Bressner said this was done in Fort Worth, Texas and New Boston, Texas. Mr. Hutchinson added that this is a good sales item. Developers feel this is a visible asset and it is an expenditure that is met with open arms. Mr. Rnkelstein acknowledged that all new developments pay impact fees. He questioned how the City shares in those fees. Mr. Bressner advised that new developments pay the fire assessment, the City's park fee and the County transportation fees. No other fees are charged. Mr. Tillman pointed out that once you place a premium on a service, there must be a guarantee of service. He questioned whether Police would be pulled from other locations to cover the premium service. Mr. Bressner responded negatively because this would be a disservice to the remainder of the community. In response to Commissioner Weiland, Mr. Bressner said that in a bona fide emergency, he would probably pun Police from the premium assignment to cover that situation. Ms. Hoyland said that all estimates that she has obtained for the cost of a surface parking space indicate $6,000 to $8,000. She also explained that she was not in favor of the parking fee structure that was adopted and believes it needs an overhaul very qUickly. Mr. Greene reminded those present that the City looked at the fee in lieu of parking as an incentive. He agreed that this fee needs review again. Mr. Tillman recommended that the City and the CRA share the parking fee since the CRA bears the brunt of the parking issue. f. Should a Downtown Development Authority Be Explored? (15 MInutes by Quintus G..-ne) Mr. Greene distributed a handout. He spoke about his experience in another city wherein an organization known as Downtown Arlington, Inc. was established. this was a downtown finance district. As we move forward and the downtown begins to develop, we need a marketing and management organization. Two questions arise: 1) Should it be the CRA; or 2) Should it be a separate organization? The CRA Is a TlF District. As we evolve, we will need a Downtown Development Authority. A model that others have adGpted is the one that exists In Fort Worth, Texas. Theirs is a SOl(c) 3 organization that is tax exempt. The TlF is also a sub-function of Downtown Fort Worth, Inc. It was incorporated in 1981. One of its most important functions Is its responslblftty for the maintenance acttvities in the downtown area. They have a six-man crew that Is responsible for deanlng and swe..,gthe sidewalks and streets. You do not see trash In their downtown. A firm maintains the landscaping. In addition, the organiDtion is responsible for festivals. They use mounted Police patrols. Downtown Fort Worth, Inc. buys the horse feed and pays for the vet services for the horses. They pay for the security 6 MEmNG MINUTES JOINT CITY COMMISSION/eRA WORKSHOP BOYNTON BEACH, FLORIDA APRIL 29, 2003 enhancements and approve all banners for the area. They are working on a commuter train so that people will be able to travel from downtown to the airport. They would fund part of this service. Mr. Greene advised that this model has been working well for the past 20 years. Mr. Aguila questioned whether Mr. Greene was advocating this type of activity in the entire CRA or just the downtown. Mr. Greene said he would recommend concentrating this effort in the downtown area. If we are going to have a good thing, then we must maintain It and market It properly. We have an opportunity to learn from mistakes others have made. Mr. Hutchinson concurred that there Is one other area that would have density and that would be the Heart of Boynton. In approximately seven to ten years, after the core projects are built, the boundaries could be adjusted and management districts could be established. Commissioner McCray asked how the downtown In Fort Worth compares to ours. He further questioned where the revenues would come from and whether or not the City would be responsible for the downtown. Mr. Hutchinson advised that the downtown In Fort Worth is a 140-block area. Ours Is a very small downtown by comparison. The funding comes from TIF and from the businesses within the district Itself. The businesses would tax themselves to provide additional services. In response to Commissioner Weiland, Mr. Greene advised that this district is something that we would evolve to. We would have to look at the needs as development occurs and we will know It when we see it. A suggestion from Ms. Hoyland was to look at what other dties In our own community are doing In this regard. 4. The Role of the City and the CRA In the Heart of Boynton - (15 Minutes by Wilfred Hawkins) Mr. Hawkins reminded those present that the Heart of Boynton Is the original CRA that started In the eariy 19805. We expanded the CRA, but must stili get back to why we have a CRA. One of the things that Mr. Greene recognized was that we did not update the CRA Comp Plan. We applied for a grant to come up with a master plan for the Heart of Boynton. We also looked at other areas In the CRA. The CIty Commission, by Ordinance, adopted the Plan. As the Oty began to look at the Ocean District, It was determined that the Heart of Boynton should be done In parallel with what was being done In downtown. The Heart of Boynton Is the residential component along with commercial. We must show benefit to the original CRA. As the tax increment Increases, we must reinvest in the area. Collaboration between the CRA and the City Is needed. The plans should be Implemented parallel with each other. The Investment downtown will generate revenue to Invest In the Heart of Boynton. Public fadlltles such as the Wilson Center need reinvestment. The benefits of the TlF Investment must go back Into public fadlitles. The CIty and CRA must work together to ensure the Investments are spilt evenly. 7 MErnNG MINUTES JOINT CITY COMMISSION/CRA WORKSHOF BOYNTON BEACH, FLORIDA APRIL 29, 2003 The City will make the initlallnvestment and we are asking the CRA to work on the commercial side. As this moves along, the lines should be blurred. Land acquisition is very Important and we will look to the CRA to move forward with the acquisition plan. The core area that we speak about at Martin Luther King, Jr. Boulevard and Seacrest is vital to the Heart of Boynton. The success of the plan must be measured with the overall success of the CRA. This collaboration must be the end result. The City and the CRA cannot view themselves as separate. The parallel process must work. This will attain the goal of development, economic Investment and improvement in quality of life. Commissioner McCray requested that Mr. Hawkins point out the original CRA on the map. In response to Commissioner McCray, Mr. Hawkins stated that no major development has taken place in that area In 23 years. Mr. Tillman felt that the residential development In that area must cease because continuation of this construction will not eliminate the sub-standard development In the area. Mr. Greene explained that the Heart of Boynton Is a project that is conceived on a number of levels. One component Is property acquisition. That began In the Phase I area. However, the Plan also includes In-fill and rehabilitation projects. The bulk of the area is in-fill and rehab. The standard for platting lots has changed over time. It is no longer possible to plat a 40' lot In Boynton Beach, but that doesn't make those emtIng proper1.t4!s go away. Therefore, a decision had to be made about how to handle them. We have those kinds of lots in the Heart of Boynton and on the east side of Federal Highway. This is a problem we are wrestting with. We recognize that these lots are sub-standard, but what should we do to encourage development? In addition, the City Is aware that speculation is occurring in this area. The property is zoned residential - not mixed use. The reuse potential is only for residential and that Is how the property will be appraised. If we rezone now, we witf pay a great deal more money later on for property acquisition. s. Membership In the eRA - Whet ere tile StIIt.utDry QIIItIIfIcation tD Serve? CIIn a Ioeal community require .......... quallflalltlons? (15 MIlt..... by Jim Cherof) Jim Cherof, City Attorney, explained that Florida State Statute sets out the qualifications for membership on the CRA. Those quallflcations Indude residence within the CIty or business ownership within the Oty. Neither the CIty Commission nor the CRA may add qualfficatlons. Mr. Cherof explained that the City Commission Is not prohibited from appointing a real estate agent, or attorney, or doctor, or anyone else, but they may not adopt an OrdInance that sets out those standards. Ms. Hoyland felt that the current eRA Board was unique because of Its makeup. The Oty Commission did a wonderful job of organizing the CRA Board and she would like to see that dynamic continue In the future. She asked If It would be appropriate for the CRA to forward a recommendation to the aty Commission to consider appointing people to the Board who possess qualifications similar to those of the current members. Attorney Cheraf advised that 8 MEElING MINUTES JOINT COY COMMISSION/eRA WORKSHOP BOYNTON BEACH, FLORIDA APRIL 29, 2003 the Board could make that recommendation to the Oty Commission, but It would be only a suggestion. 6. Is the Federal Highway Plan Working the way It should? (15 Minutes by Quintus Greene) The City Commission charged staff with the task of doing a corridor study. The recommendations were sound and what has come out of it is the mixed-use zoning. The areas were appropriate and we can see by the interest expressed that it has done what we wanted it to do. 7. AdJoumment With no further business to discuss, the meeting properiy adjourned at 8:35 p.m. ATTEST: .Lt- " ~~ m.~ Clerk Commissioner Jmp AprIl 30, 2003 S:\CC\WP\MINUTES\COMM\Year 2003\042903 - Joint Oty CommIssIon-CRA Wor1cshop.doc 9 TAB 4 T:\ADMINISTRATIVE\Templates\Tab Pages.doc ~ ~~'f\?: \;>~ "'-\--\es ---- POLICY STATEMENT THE BOYNTON BE;ACH AS.SEMBL Y: COMMITTING TO OUR FUTURE October 20 and 21, 2006 Hutchinson Island Marriott Beach Resort Hutchinson Island, Florida Sponsored by The City of Boynton Beach with financial assistance from The Palm Beach County Board of County Commissioners The Boynton Beach Community Redevelopment Agency Compson and Associates Coordinated by . The John Scott Dailey Florida Institute of Government at Florida Atlantic University 777 Glades Road Bldg. 44, Room SO 277 Boca Raton, Fl 33431 . ." ) POLICY STATEMENT THE BOYNTON BEACH ASSEMBLY: COMMITTING TO OUR FUTURE At the close of their discussion, the participants of this assembly reviewed and adopted as a group the following statement. The statement represents general agreement. However, no one was asked to sign it Furthermore) it should not be assumed that every participant subscribes to every recommendation. I. INTRODUCTION A. This report is from the Boynton Beach Assembly: Committing to Our Future, which was held at Hutchinson Island on October 20-21, 2006. Approximately 70 people participated. The assembly's purpose was to establish a shared vision for the future of Boynton Beach and policy recommendations for moving the City toward that goal. B. Impetus for the assembly came from the City Commission. Financial support was provided by the City Commission, the Palm Beach County Board of County Commissioners, the Boynton Beach Community Redevelopment Agency, and Compson and Associates. C. The assembly was planned by a Steering Committee of nine members with diverse backgrounds and interests. The Steering Committee identified the interests to be invited, selected the groups and individuals to represent those interests, wrote the questions to be addressed, and reviewed the assembly background paper. The assembly was facilitated by the John Scott Dailey Florida Institute of Government at Florida Atlantic University. 1 D. The Steering Committee selected assembly participants to reflect many aspects of Boynton Beach, including geography, business, government, civic groups, religion, . /' minorities, retirees, youth, the environment, education, and others. The questions addressed at the assembly included community relations and governance; economic development and neighborhood revitalization; infrastructure; education and community services; and procedures for follow-up and implementation. E. An earlier assembly in 1996, Boynton Vision 20/20, laid the foundation for the present discussion. Vision 20/20 led to many positive initiatives and achievements. Among other accomplishments, a Community Redevelopment Agency was . established; voters adopted term limits for City Commissioners; neighborhood associations were formed or reinvigorated; more mixed-use development Was encouraged; and police, fire protection, youth programs, and neighborhood services were enhanced. F. the Boynton Beach Assembly: Committing to Our Future reflects the ongoing efforts of Boynton's political and community leaders to maintain and enhaJice the City's quality of life. The citizenry is committed to sustained involvement in City politics, planning, and action. U. COMMUNITY RELA liONS/GOVERNANCE A Boynton Beach has the potential to become a true gem of Palm Beach County, but to do so the citizenry and its leaders must foster a sense of community and common purpose, unite on critical issues, and marshal their resources to take . advant~tJe of the City's strengths and address its weaknesses. 2 B. The City would like to overcome any perceived divisions: geographically, economically, age-wise. and ethnically and racially. l/ C. To a degree, such divisions are inevitable in a large, diverse, South Florida 6ity, but in Boynton Beach they are exacerbated by the fact that single-member districts for City Commissioners may foster parochialism among Commissioners and citiz~ns alike. City Commissioners try to represent the whole City, but they are inevitably focused on the districts from which they are elected. Their constituents often tend to follow suit because. for good reasons, citizens are encouraged to take their issues to the commissioner from their district. D. To promote a sense of community and common purpose, the Assembly participants recommend that the following be explored. 1. Consider changing the system of governance. Single-member districts are important for minority representation, and they should be retained. Commissioners need to be more responsive to all areas of the City, not.only to their respective districts: 2. Encourage the most qualified individuals to seek election to the Commission, and allow the Commissioners to devote the time necessary to properly carry out their duties. by raising the salaries of the Commissioners and Mayor. 3. Create spaces, events, and forums for collaboration and interaction. a. Boynton Beach is a "city of varied cultures." Continue to hold and expand upon events that celebrate this diversity. 3 . c;\~ b. Boynton Beach has competing centers scattered around the City. The ~~ City should identify. and promote particular areas as the city-center, the 1'. i. , ., cultural center, and so on. c. Establ~sh a booster club for Boynton Beach High School. "~ ;J---~ d. Hold a signature event that hIghlights the City's character and .-/ ~~ \i ~ ~ successes. ~ 4. Take the City toL,ty. Encourage Commissioners and other City tfJ5 J- officials to a~ community meetings to infonn cUizens of City goals and ~;J ~ tJ> othern~ ~ 6. Promote cohesion within the City government. ~ ~ ~ { a. Hold semi-annual goal-setting and brainstorming sessions..~1{' (~ · b. Establish clear goals and qbjectives for advisory boards, and hold them accountable. -i". ;c. . Establish a training program for advisory board members to give them a .A' 'l) 'OJ ../.>y .city..;wide perspective. 6. Augment the Citts public information activities. a. Publish information about City decision-making processes. b. Establish a central call center to notify citizens of upcoming meetings, openings on advisory boards, etc. c. Convey' information through faith-based Institutions. d. Publicize, translate:, and broaden the distribution of the City Services Guide. . ,'j .:.i 4 Ill. ECONOMIC DEVELOPMENT/NEIGHBORHOOD REV IT ALlZA TIOI~ A. The City must continue to attract a mix of high-value industrial, commercial, and '!r.ol.... (. residential development that will strengthen the tax base and generate good jobs for residents without adversely affecting the City's neighborhoods and community character. 8. Bas~d on former successes, the City should continue to 1. Focus on distinct geographical areas and community assets; 2. Be persistent; and 3. Coordinate or partner with private developers. C. Economic development activities within the City administration should be elevated . / and reorganized, as fo.llo.ws: fP \o~1 ~e an Economic 0 elopment Director and staff and develop an economic \tJ,\ ~/ ~?I developme "'gram. . . . to' ~ 7' 2. C.o.nsider seeking co.sl-sharing fo.r this office from oulside enmies.0.~~* \ ()~G~ 3. Assign this office responsibility for: {j \ \ v( Identifying the types of businesses and industries that Boynton should try to attract. ~ Breaking the City into zones or quadrants, and tailoring economic development strategies to each zone. h. Working with the Business Development Board of Palm Beach County, the eRA, and others to identify and/or deve op incentives for businesses to.'ocate in Boynton Beach. ~ f. '\/,V 5 A Developing incentives and support services to h~lp businesses stay in ~. Boynton Beach. Encouraging the developmen~ of and serving as liaison with multiple merchant associations throughout the City. D. The city's political and administrative leadership should identify and take advantage of key land uses and other assets. ConsIderation should be given to: ~ 1. 7serving and marketing the industriallancl in the Boynton Beach. . ~ ~ Leveraging the value of the 600 feet of waterfront property to Include revenue- . )c ~{l ~ )'enerating boat slips in Intracoastal Park. ~~ \ W t. Creating an attraction to draw consumers to the downtown. ./ ~ ~ While focusing on particular assets and targets of opportunity, the Gityshould take steps to improve the community's overall appearance and safety. ~ 1 . To promote safety, ~ Improve. infrastructure and expand street lighting to all intersections, hazardous locations, and to high crime areas identified by the Ponce Department. . " ~ ..6." Encourage co. mmunity involvement in neighborhood refurbishment to CJi!.;~ .I"' v promote community pride. ~ ~ / ~eveloP a tactical plan to focus and coordinate police and code . .1 e~forcemeht on ~ocations an~ bU~ine...ss. es..t.hat attract or contribute to ~~. cnme. These cnme nodes might onclude liquor stores, abandoned V ";f-opropertles, etc. ~/.~ . ~ 6 2. To improve appearance, rP){\J~/---- rf' a. Improve and maintain the City's streetscapes. Lobby the County to assume responsibility for funding streetscaping of all of the coun~' roads in the City. Encourage outside agencies and corporations (FPL, Bell South, P?'m Tran, etc.) to complete repairs and clean up their debris. """ c. 7"ove bus stops. ~ P~e more trash containers. ~bntinue providing grants for homeowners to improve their property. Anforce cleanup of construction sites. F. Affordable housing is important to economic development, but the high cost of housing is a nationwide problem. While recognizing that there are limits to what ~~ \~if Boynton Beach can do to reduce housing costs loCally, the City should: uf[;eveloP and present available options to increase the availability of ;!fordable housing in Boynton Beach; /'Offer incentives to developers for building affordable housing; and ~Ordinate with $tate and county affordable.housing agencie$. IV. INFRASTRUCTURE A. Boynton Beach, like many other older municipalities in South Florida, faces a dual challenge: repairing or replacing aging infrastructure that is decaying, outdated, or inadequate. to keep up with the demands of a growing population and providing services and facilities for new residential and commercial development. Planning 7 efforts, funding, and human resources must be carefully balanced if the City is to succeed on both fronts. Inform the public that the City's infrastructure is aging and i' significant investments will soon be needed. B. Water. In general, Boynton Beach is doing a very good job in deaUng with water issues. The City is addressing potable water demands to assure that the City.has adequate supplies through 2025. However, the City does face two issues involving wastewater treatment and disposal that must eventlially be resolved. 1. Boynton Beach will eventually be prohibited from pumping wastewater offshore at the present location. Boynton Beach and Delray Beach must work together to find alternatives to ocean outfall from the communities' wastewater treatment plant. The two cities' wastewater wiU either have to be pumped further out from shore, ihjectedinto deep wells, reused, or a combination thereof. All options will be expensive: 2. The South Florida Water Management Pistrict,as part of the City's water consumptive use permit, is calling on Boynton Beach to increase wastewater reuse for irrigation. This requirement is not unique to Boynton Beach. The main expense here is for the pipes to distribute the recycled water and to provide storage facilities for the recycled water until it can be used for non- potable purposes. C. Roads: The majority of roads leading into and within the limits of 13oynton Beach fall under the jurisdiction of the State of Florida and Palm Beach County. The City's DMsior of Roads and Streets is responsible for asphalt and concrete restoration, . :,' .) 8 street sweeping, bridge restoration and guardrails, filling potholes, repairing road edges, and replacing street signs. 11. r. The City should hire an urban planner with expertise in transportation/, . /( parking, intermodal transfers, and the like. A person with these skills is needed to study and document transportation issues in Boynton Beach, ,and to negotiate with state agencies, the County, and other municipalities. 2. The City's plans should assure adequate capital funding for maintenance of pavements, sidewalks, streetlights, and landscaping. The streetscape Q9~ program needs to be expanded to support the economic-development requirements discussed above. 3. When City-maintained roads are reconstructed, community involvement should be solicited so that the work considers community needs and preferences. 4. Collector roads should be the priority. .5. The City should work with Palm Beach County to optimize traffic signal timing coordination. D. Public Transportation. Palm Tran, Tri-Rail, and other public transportation services are a valuable resource for those seeking an alternative to driving or who do not have access to an automobile. / 1. The City should encourage Palm Tran to consider adding an east-west ). ~ .connection on Boynton Beach Boulevard from State Road 7 to the beaches. ~"'./ . 1:B~COUld be partially self-supporting through fees from liders. ,. ? . 9 /( ~~ Consideration should be given to expanding the trolley system, which is currently supported by the CRA. The City should explore the possibility of ". I partnering with the eRA to expand the service'. Expand the Shopper Hopper and publicize its connections. X o!"/ 4. Establish a municipal parking authority and create parking facilities that. satisfy \!,-J local parking demand and function as transportation hU,bs. 5. Support a dedicated funding source for regional transit E. Parks and Recreation. Well-maintained and conveniently located 'parks and recreational facilities make a significant contribution to the quality of life within a City. 1. The City does a very good job of maintaining its existing parks and recreational facilities. The current advisory board is functioning well, and the staff are competent and proactive. 2. Community involvement can be encouraged by holding fUnctions and public meetings in Boynton Beach parks. 3. The Gity should study the feasibility of a beach and parks assessment. j 4. Expand the greenway system and its connectivity. V. Education and Community Services A. The quality of hcal schools and other educational facilities and services is an important consideration in where people choose to work and live. This means that schools have a major impact on economic development. 1. CBmmunication between the City and the school district needs to be ..1 improved. The City Commission should meet with the School Board of Palm 10 Beach County on a regular basis and make it a priority to work on improving the reputation, quality, and facilities of public schools in Boynton Beach. Consideration should also be given to establishing a City position to serve as a liaison between the City Commission and the School Board, of Palm Beach County. 2. All sectors of the community should re-evaluate their level of support of and commitment to the schools within the City. 3. The disparity between the enrollments of Boynton Beach High School and Park Vista High School will be addressed next year by adjusting school boundaries. The Boynton Beach community needs to start speaking out now about its interest in this decision. 4. The quality of translation services for children who speak English as a second language needs to be addressed. 5. Encourage the Greater Boynton Beach Chamber of Commerce increase its involvement in all grade levels in the City's schools. B. Jnfonned .involvement by parents and other stakeholders can spur improvements in school performance and student achievement. Moreover, the City, through its Office of Public Affairs, should include information about Boynton Beach schoois in its community newsletter and other public communications. C. The City should increase recreational programs for children by: /10 Creating a Youth Center to draw children from the streets and involve them in constructive activities; 2. Trying to attract a Boys and Girls Club to Boynton Beach; and 11 3. Seeking funding for before- and after-school care, camp programs, and programs for the handicapped. /' I 4. The City Commission should create a task force with representation including but not limited to the City Commission, Police Department, Recreation and Parks, Youth and Education Advisory Board, the School Board of Palm.Beach County, a teacher, and the head of the Boynton Beach High School Student Government to study, evaluate, and implement procedures to reduce drop-out rates, crime, and delinquency. monitored, and the findings should be reported to the participants at regular 1. J\-o /' 1 .. f / VI. FOLLOW-UP AND IMPLEMENTATION A. Progress in implementing the recommendations from this assembly should be intervals. "r" B. Within 60 days, the City Commission should draft an implementation plan that ~'U'\ breaks out action steps" assigns responsibilities to appropriate parties' (including the appropriate advisory boards), and establishes reporting requirements and timeframes. C. The City Commission should establish an advisory committee to oversee the plan's implementation and prepare reports for distribution to the Commission and the assembly participants. ;I 12 THE BOYNTON BEACH ASSEMBLY: COMMITTING TO OUR FUTURE October 20 and 21, 2006 {- ? Hutchinson Island Marriott Beach Resort Hutchinson Island, Florida ATTENDEES Beverly Agee Member, Boynton Beach Bldg. Board of Adjustments and Appeals Cheryl Arflin Member, Arts Commission Advisory Board Matthew Barnes William Bingham Chief, Fire Rescue, City of Boynton Beach James Bogert Vice President, Palm Beach Leisureville Community Association Kurt Bressnel" City Manager, City of Boynton Beach Lisa Bright Executive Director, Boynton Beach CRA Buck Buchanan Greater Boynton Chamber of Commerce Angela Budano Member, Arts Commission Advisory Board Nancy Chandler Systems Manager, School District of Palm Beach County/INCA Lance Chaney Reverend, St. John's Missionary Baptist Church Devon Coughlan Board President Elect Greater Boynton Chamber of Commerce Sander Cowen Hunter's Run Eleanor Daly Registered Nurse Al DeMarco Realtor Rldph Diaz Real Estate & Mortgage Broker Brian Edward,s Senior Vice President of Resource Development, United Way of Palm Beach County Bob Ensler Commissioner, City of Boynton Beach S~arlett Fave Social Services Coordinator, Caridad Center Mike Ferguson Commissioner; City of Boynton Beach Larry Finkelstein President, Lamar Realty Corp. David Floering Eastern A uta Body and Glass 13 Christiane Fnmcois Vice President, The Greater Boynton Beach Sister Cities Committee, Inc. Reverend Randall Gill Minister, First Presbyterian Church Joe Green FotQ:ldetand Principal Delray-Boynton Academy Patti Hanuner Member, Boynton Beach Recreation & Parks Board Dale Hatch Owner, Ace Hardware Reverend Woodrow Hay Minister, 81. John Missionary Baptist Church Jeanne Heavilin Board Member, Boynton Beach CRA Robert Hill President, Bethesda Memorial Hospital Edward Hillery, Jr. Director of Public Safety. Town of Ocean Ridge Marie Horenburger Board Member, Boynton Beach eRA Ward Houston President, Boynton Beach Leisureville Community Association G. Matthew Immler Chief of Polite, City of Boyn.ton Beach Shirley Jaskiewicz Member, fl6)mton Beach Planning 31)d . -oj Developmept Board Glenn Jergensen President, Greatet Boynton Chamber of Commerce I' Robert Kanjian School Board Member-Elect, District 4, School :Board of Palm Beach County Barbara Katz President, Coalition of Boynton West Residential Assn. Da:vid Katz FOInl.er City Connnissioner Jayne Kupperman Community Relations Coordinator School Oistrict of Palm Beach County James Kurtzman Treasurer, Temple Beth Kodesh Larry Lederbandler Treasurer, Local 1891 Firefighter~ Union Carisse LeJeune Assistant to the City Manager, City of Boynton Beach Barbara Lentz President, Art Sea Living Frank Lindsay Vice President, Board of Governors Colonial Club Condominium Association Jeffrey Livergood Director of Public Works and Engineering City of Boynton Beach Terry Lonergan President, Meadows 300 POA Carol Lundqu.ist 14 Jack Lynch Board President, Nautiea HOA Carl McKoy Vice Mayor, City of Boynton Beach Martha Meeks Ligbt Gene Moore Attorney Roberto Moreno President, Citrus Glen HOA Dan Morrison Palm Beach Leisureville Comm. Assn. Steve Myott Board Member, Boynton Beach CRA Stormet Norem Vice Chair, Boynton Beach CRA Suzanne Novita QuetelOsterval President, UTEL, Inc., Diane Pacheco Director, Development & Program Compliance~ Palm Beach County Literacy Coalition Lena. Rahming Center Director, Head StartlBoYIlton Child Care Jose Rodriguez Commissioner Elect, City of Boynton Beach r Barbara Rudd Vice President Intown Partners, LLC Michael Rumpf Director, Planning and Zoning, City of Boynton Beach Elayne Russell Board Member, In The Pines, Ine Sister Lorraine Ryan Coordinator, Women's Circle, Inc., Guarn Sims Board Member, Boynton Beach CRA Jerry Taylor Mayor, City of Boynton Beach Henderso-n Tillman Board Member, Boynton Beach CRA Stephen Waldman Chair, Boynton Beach Education and Youth Advisory Board 15 THE BOYNTON BEACH ASSEMBLY: COMMITTING TO OUR FUTURE STEERING COMMITTEE i' Beverly Agee Board Member Boynton Beach Building Board of Adjustment and Appeals Lisa Bright Executive Director Boynton Beach Community Redevelopment Agency Larry Finkelstein President, Lamar Realty Corporation Patti Hammer Board Member Boynton Beach Recreation & Parks Board Form~r City COIDmissioner Shirley Jaskiewicz Board Member, Boynton Beach Planning and Development Boatd, and City Commissioner, 1995 - 1999 Glenn Jergensen President/CEO Greater Boynton Beach Chamber of Commerce Former City Commissioner David Katz City Commissioner, 1993 - 1995 Dr. Martha Meeks Light Diane Pacheco Director, Development & Program Compliance Palm Beach County Literacy Coalition " ::I ,., 16 TABS . r.", ,", .:.; ,..~.....,~;~.>>h., ~ -".' '''.~J"..'". .: ~',l:;;..~,~'';" ....".'~1'L"... .... .l; ~ .' ....,- _... " J T:\ADMINISTRATIVE\Templates\Tab Pages. doc 2007-2009: Recommendations & Ideas for ImDlementation ~Inrn, . Purchase of the Women's Club - Historic Structure . Purchase of 211 Ocean Avenue - Historic Structure . Sponsoring Avenue of the Arts - Economic Development (ED) . PBC Dev. Regions Grant: Village Homeade Ice Cream - Small Bus. ED . Creation of Downtown Marketing Cooperative - ED & Sponsorship . City/CRA Special Events Interlocal Agreement - ED . Noise Ordinance and Sidewalk Cafe Permitting - Small Bus. ED . Mobile Vendors: Rufus Ribs - Small Bus. ED . Green Market at Ocean Plaza - Small Bus. ED . Expand Southern Trolley Route - ED . Recommend "Toter" trash bins N. Fed. Hwy/HOB - Slum & Blight . Purchase of Adult Entertainment & Liquor License - Slum & Blight . Request for Qualfication (RFQ) for Master Developer for Town Square Plan . RFQ for Economic Feasibility of Potential City Hall Relocation Sites . Purchase of Delray Boynton Academy - Small Bus. ED . Dive Shop Lease Reduction - Small Bus. ED . Competitive Marina Rates for Fishing & Diving Boats - Small Bus. ED . Renovate 310 NE 10TH Ave - Small Bus. ED . Brownfield Designation - ED . Tenant Improvements (Monnin Properties) - ED . Marina Redevelopment Plan . Economic Development Plan . CRA Boundary Amendment - TIF Revenue . Commercial Fa~ade Grants: Anne Marie Motel Eye of the Storm Ice Cream Marketing Innovations Scully's The Pantry First Financial Plaza Monnin Properties Ocean Avenue Apartments Palm Beach Eye Care C.E. Precision TAB 6 T:\ADMINISTRATIVE\Templates\Tab Pages. doc ,.e' ' 9:1 action plan ~.':,;.--_._,";;'::;:; ~ ~'lIl~ '.41 -11'~" .."'~,_._.""""...-. .,''''.~ \ \ ! 1 i \ I I .$ ,! ! 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' , j 1 , .. ! ; J , ; f ,J 't I! ! < ~ ,! far ,~ i< 1< < a l~ ~ ~ lU l~ tl U U / i i , I~ :< < .< a ~ <(I 0 :i jfj U 'K 0, IU 'u u u 11 1 .1 11 1 1 l 1 1 '.. ii It i if J I i ,I I 1- ,.. ! ,[ 1 i ~,2 i Ii' ~ i i :~: ~ ,~ .:1 !! ~ ""~ ~ I 11,ill~ at · i jfi \gl~:i' t l,ii'11if!. '~f 'if 11:,1 IlIl : ,1~ ;1~11 Ji 1..1f1 Jt i,~ t'! it! i :,1 f If i I t I' j S ' I f! : J I) I, I ~ l 4,' " J It. J J J 11 .. .Ii j If i 1 t ! ~ IrtH Iii iiftfllHllfH !J~ j1 11}Jt II i )1 }lJt i( · Ii lIt!! 'J f J f i it itl iff , i : f if L il fAlttl II :1 ! II ~ J j j 1~II J ~i J j . fl' ~ \ I : 'J I ' ~ f"1 Ni- N _ ;i ~ ~ :.j :;: " >1 ~ ,:,'_ N :1 :;! ~1 ~ ~ .~i:i :i ~Ii:',::::..; __:.,~:';,)....,.t.""~~;'-~";:';"~~~~'''>.LMlIi\i;,;c~ N'v'ld ~31S'v'W H:>'v'39 I-.JOINAOa DMP S-vear Action Plan Activities: Economic DeveloDment: ED 1.) Land Development Assistance . Martin Luther King Corridor Acquisitions and/or Small Bus. ED . 4TH /5 TH Street Land Acquisitions . Opportunity Buys ED 2.) Civic Campus Development Program . 2008 Economic Analysis - Tabled by the CRA Board . 2009 City Issued RFP/RFQ Potential Relocation of Existing City Hall ED 3.) TOO District Assembly . CRA owns the southeast corner of Federal Highway/Boynton Beach Boulevard ED 4.) Explore feasibility of establishing an Enterprise Zone . 2008 requested local representative Kevin McCarty assist with designation . 2009 Governor Crist has not opened any new Enterprise Zones in two years . 2009 completing applications ED 5.) Establish a Brownfield Area/Site designation Program . 2008 City Commission did not support with a 5 to 0 vote . 2009 CRA requested by Chamber of Commerce to reconsider . 2009 CRA staff bringing forward Resolution to CRA Board POLICY: P 1.) Density Bonuses . Mixed-Use High Zoning Available . Mixed-Use Low 1,2 & 3 Available . IPUD Zoning Available . Federal Highway Plan Update Completed P.2.) Green Building Incentives . Draft GreenCentives Program Consideration - 08/09 P.3.) Community Policing . 2008 Approved and Implemented P.4.) Historic Structure Inventory . Completed . Purchase of Historic 211 Ocean Avenue . Purchase of Historic Jones Cottage . Historic Signage URBAN DESIGN: UD.1.) Cultural Corridor Designation . Avenue of the Arts UD.2.) Streetscape Easement Acquisition Program . Opportunity Buys UD.3.) Federal Highway Gateways & Parks . Jaycee Park- Completed . Bicentennial Park-Completed UD.4.) Expansion of Wayfindlng Slgnage (TOD, Civic & Cultural) . Working with Public Works and Art in Public Places UD.5.) Expansion of Wayfinding Sign age (Federal Highway) . Working with BB Parks & Recreation Department TRANSPORTATION: T.l) Infrastructure Upgrades . City/CRA 4th Street Improvement Project . Sea crest Streetscape T.1.) Critical Street Crossings . Ocean Avenue/Federal Highway . Boynton Beach Blvd./Federal Highway T.2.) Pedestrian Connectivity Plan . Marina Plan . Ocean District Plan T.3.) Downtown Trolley Route . Northern Route - 4 years of service . Southern Route Trial Period Ended Service T.4.) Downtown Parking Deck . CRA owns 105 covered public parking spaces within the Marina Village Garage . Future opportunities when redevelopment occurs OPEN SPACE: OS.1.) Federal Highway Greenway/Open Space . Opportunity Buys OS.2.) Civic Campus Plaza . Relocation of City Hall allows for consideration of open air band shell MARKETING & EVENTS: M.1.) Programmed Events . Citywide Events Program Fully Funded and Executed by CRA . Artavox . Palm Beach Film Festival . Planning & Development Workshops M.2.) Downtown Promotions . Adoption of Economic Development Plan . Small Business Development Assistance . Small Business Development Events . Chamber, City & CRA Merchant Mingle - July 30th TAB 7 T:\ADMlNISTRATIVE\Templates\Tab Pages.doc ,~'" '., "" . Goals and Guiding: Principles of the Downtown Master Plan 1. Create a family friendly mixed-use downtown core of concentrated activity. a. The land use is in place to entice private development to implement the DMP. However, due to lack of capital in the [mandaI markets, commercial and residential projects are not being funded. Prior to the failure of the capital markets, the CRA was able to attract several large mixed-use projects as highlighted in the State ofthe CRA presentation slides attached. b. CRA staff continues to market available development sites within the CRA. For instance, this past fall the CRA had a booth at the International Urban Land Institute meeting in Miami which attracted 8,000 attendees. Staff development boards and packets with information on five major development sites in the CRA. (See slides 14 & 15 of the State of the CRA) 2. Protect single-family neighborhoods adjacent to downtown. a. Both the CRA's Residential Improvement Grant and Homebuyer's Assistance Programs support this goal. (State of the CRA) 3. Create a cultural center around existing cultural providers. a. Control of the Old High School reverted back to the City in October 2008. To date no decision has been made on the future of the High School. b. Staffhas been working with property owners and the Arts Commission to help create the Arts District recommended for Ocean Avenue between Federal and to create the Cultural Corridor as recommend by the DMP. 4. Preserve the existing historic fabric of the community. a. The City does not have a Historic Preservation Ordinance. However, the CRA owns a few properties recognized by the City as having historical value; the Jones Residence at 201 NE 1 st Ave and the Oscar Magnuson home at 211 E. Ocean Avenue. Next month staff will be installing signs on these properties identifying them as historically significant. b. CRA staff continues to dialog with interested parties on the potential development ofthe Old High School. 5. Provide improved public access to the water. a. The CRA purchased the Boynton Harbor Marina in 2006 and the adjacent waterfront parcel, fuel docks and 70 public parking spaces in 2007. The CRA is issuing an RFP to redesign and repair the slips. The Marina Master Plan is also approved. Staffhas submitted requests for federal stimulus monies to help cover the cost of the redesign. b. The CRA continues to pay for the maintenance and repairs of the Promenade Park on the Intracoastal. c. The CRA continues to pay for the maintenance and monitoring of the mangrove area at Jaycee Park. T:\AGENDAS, CONSENT AGENOAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\DMP Update,doc ~~~<tY~Te~ eRA . East Side-West Side-Seaside Renaissance d. Staff is actively working with the Treasure Coast Planning Council and Palm Beach County on the Intracoastal Access initiative. e. Staff is supportive of creating a Marina overlay zone for the manatee green area in order to incentivize development of marinas and access to the Boynton Inlet. 6. Connect existing greenspace. a. This is a long term plan for acquisition of nonconforming businesses and parcels along the west side of Federal Highway north ofNE 6th Avenue Highway and to incorporate them into the City's existing Parks & Greenway Plan within the CRA district. 7. Address visual blight. a. The CRA's Commercial Fa9ade Grant Program addresses this recommendation ofthe DMP. b. In 2008, after the conceptual approval of the DMP, CRA staff brought forward an economic development tool known as a "Brownfield" designation. This designation allows for both state and federal dollars to flow to properties needing environmental remediation allowing the properties to get sold or redeveloped. The City Commission voted this initiative down in May of 2008. The Brownfield designation was brought back to the CRA Board at the request of the Chamber of Commerce. CRA staff is currently working on a map and resolution for the designation of the commercial, industrial and HOB areas which will be presented to the CRA Board for recommendation to the City Commission for eventual adoption. 8. Provide a balance of housing and employment, including affordable housing near employment centers. a. The CRA has been recognized locally, statewide and internationally for its work in affordable housing initiatives and programs. b. CRA staff actively works with the Business Development Board to remediate the following barriers to attracting an office/employment market to the downtown: lack of "A" rated schools for education, transportation, residential units and crime. These four issues are barriers that are contributing factors in preventing Boynton Beach from becoming an excellent choice for an office market and CRA staff supports all efforts to remove such a barrier. (State of the CRA slides 7, 8 and 9) 9. Provide community services near neighborhoods. a. In 2007, the CRA awarded the Community Caring Center and the Women's Circle $200,000 to be used to purchase larger facilities and better serve the community. The Women's Circle has a contract for a new location and should close on it in August. CRA staff is working with the Community Caring Center on developing a plan for the remainder of the funds. b. Staff is working with a non-profit organization recently funded by the Quantum Foundation for a location of a 4,000 sq. ft. clinic. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\DMP Update.doc 10. Support local business retention. a. CRA staff brought forward an Economic Development Plan (see attached Plan) which was approved by the board in November 2008. b. The CRA created a database of all small businesses and commercial space within the CRA. c. CRA staff provides assistance to businesses by creating and distributing press releases. d. Staff is currently working with the businesses on creating on-line "Google" street maps. e. Staff is working on a cooperative advertising program with the Convention & Visitors Bureau. f. The Board approved a contract with REG to provide design assistance for architectural renderings for fa~ade renovations g. Staff is investigating the potential of free business development classes and a revolving loan fund. h. The CRA partners with the Chamber on groundbreakings and grand openings. l. The Commercial Fa~ade Grant Program is primarily used by existing businesses to improve their exterior. 11. Phase redevelopment to generate momentum for future redevelopments. a. An example of this would be "The Preserve" project. 12. Articulate a clear vision and provide feasible and realistic implementation steps. a. Due to a 9.7% reduction in the CRA's FY08-09 Budget, many goals were tabled and this will most likely continue during the next budget cycle. · eRA Proiect MaD: CRA Funded Proiects: 1.) Boynton Harbor Marina - Underway 2.) The Preserve - Underway 3.) The Promenade - Completion date: Summer 2009 4.) Boynton Beach Blvd. Extension/Promenade Park - Completed 2006 5.) MLK Corridor - Underway 6.) Ocean Breeze -West Side; Under contract for Single-Family Homes T:\AGENOAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\DMP Update,doc 1~~~Y~T8~C III East Side-West Side-Seaside Renaissance Private Develonment Proiects: 1.) The Peninsula - Bankruptcy filed in 2008; project completion 2010. 2.) Marina Village - Completed 2007 3.) Las Ventanas - Completion Date: Fall 2009 4.) Sunshine Square - Renovation Completed 2009 5.) Estancia - Completed 2007 6.) Baywalk - Completed 2007 7.) Bayfront - Completed 2007 8.) Waterside - Completed 2008 9.) Tuscan Villas - Phase 1 Completed: 2007; Phase 2 Underway 10.) Gulfstream Gardens - In for Permit with the City of Boynton Beach 11.) Gulfstream Mall - Reverted to Commercial and actively pursuing large scale tenants. 12.) Bank of America Site - CRA staff actively works with developer for potential site redevelopment such as response to City Hall Relocation RFP. 13.) 500 Ocean Plaza - CRA staff actively works with developer for potential site redevelopment such as proposal assistance to City Hall Relocation RFP. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\DMP Update. doc City of Boynton Beach-HI5TO~IC 5~TE5 511~VEY -~ej)temberu1!~!tfup~C!~~(LD~~~I11~~r 2007) peN USE: R-Residential C-Commercial PU-Public Use ~I=r:..ktt::&,..r~~tjnn NAME ; Fox House (Dimick House) Ll-lelen Marankkowski House ! Islander Invest.Co.House i Lembo Family Enterprise House wuncari COUttSHOuse - t>_eter & Michael Flood Hous~ ~mes p, Romba~_H~':lse : Denise A Carres House IBenvenuto's Restaura-nt 'lseaview-PaikClUii . E,O,Properties House ! Old Dutch Mill . Jl.Ianita \,I\.I~!J-\o...ll.s.e__ 19_harles ColesbrooJ<_I-IQuse ILD Albury House : Harold Ochstein House IMaria -Prows House 1 MascOloHouse-' . Ge()('fle_Dalli.e~l-IoJ.1se i HL Smith House iWillie Hollis House i"--~'._.' -.- ,BT Wilkins House ~ -_.~. ._..._._~-_..- George Johnson House Bailey House House L~ornmer Houlie _ Tilman Barachel House iLeslie_~kipper H.9.~~e-___ - ~637Lake Drive . 1904 j V:erl1a..~lJl.ar 2625 Lake Drive ' 1922 'Vernacular 628 Dimick Road 19407Vemacular 1615 Potter Road 1924 Mission i 626-PotterROad- - 1928! Vernacular 1644 Potter Road 1925 TVernacular :626 Lakeside Harbor 1920 [VernacUlar- --------- .. i 628 Oak Stree~~ _ t--. 1925 jvenaCUalr 1730 N, Federal Hgwy _L _1925 . Med R~~ 1620 N, Federal Hgwy , 1934 Vernacular : 1010 NE 7th Street --:- 1945'trvernacular_ ,1022 N, Federal HJl~ ' 1945 Vernacualr L416 NE 10th Ave," !f135 -rvema.~~ar 1117. _N_E_ 10th_Aye J 93<2. ...;.ye!.nacular 120 NE 8th AY~.:. 1930 :V:ernacular i636 NE 8th Ave, 1940 iVernacular [619 NE 7th Ave, ,1940 iVernacular ,802 N, F~eral Hgwy I 1946 IVerriaci.ilar' 1510 NE 3rd Street. . -f925 'Mission . 517 NE 1 st Street J 93~ -J v:.ernacular :111 NW 6th ~ye _ _. __.1.91L._lV:e_ll'!~cular 133 NW 6th Ave 1946 vernacular . .-- -.- r - 219 NW 4th Ave 1il~ -L~i~sio"- 112 NW 5th Ave 1920 I Mission 104-NW 5th Ave 1928 -I Miss.iOn----~-- - 505 N: seacrest Blvd, ----- 1925 LMiss-ion :503 N. Seacrest Slvd, ; 1925 I Mission _120 NW4th Ave-' . _ .t- 1925 iM~ion_ ,124NW~th.Av~_ _,.19351MedRev, [?16 N, Seacrest Blvd, ! _1il35_JV:e!!lacular 1~1.~. Seacrest_BJycj, -r .1925 :Vernacular_ ,59_8 N. Seacres.t Blvd,_ 1924 iMission_ IJQ5 NE 4th Ave____.. 1_ 1925 m~sion i 106 NE 4th Ave . 1925 ,Vernacular ; 11-2NE4'tflJi.Ve 1935;Yernacular i 114 NE 4th_ AVE! '_19~5 -LV:er.nacular . i 115 NE 4th Ave 1930 Vemacular : 121NE 4th Ave 1J~ Vern~cular_ ... +- _. 1127 NE 4th Ave, . 1935 ~ed Rev, __1124 NE 4th Ave 1940 Vernacular l130 NE 4th Ave, 1940 I Vernacular J11_1J'!~~rd Ave 1940 1 Vernacular ARCHITECTI FLA MSF TNATL. LOCA-C-CONOITION BUII.,DER, NO. u.. REG ~ .~PB083n i IL~ly u~~ell tDEMOLlSHED , 1 8PB08335, 'NO. I DEMOLISHED" ]8PB08354---- [likely !Ex-rAiifr--' '8PB08349 iNO~ I EXTANT 18PB08348 ~. NO . .j EXTANT 8PB08347 i I NO EXTANT .18PB08386 [. .___INO ~ _jEXTANT j8PB0837lL..J- _ __ I NO . EXTANT 8PB00494: I NO .j MOOIFIED _J _18PB09344 l-iNQ -jDEMOLlSHED. 8PBOO525: ~ iEXTANT , 8PB093361..... _ i NO j.E2<T ANT ._--------.J 8PB08340 i 1NO EXTANT ' ,'SPB08341 L. !No I DEMOLISHED .18PB08325 TU- 1~__IDE~OLlSHEO_~ ,8PB0837.5 L =TNO ___NKTANT__----.J 18PB08361J!!O [EXTANT ; __~8PB08376. m-~-i EXTANT_ u_ ~ ,8PB08294 INOu. IEXTANT __ j 8PB08307 __~g . I DEMOLISHED !~.eB08322 _ _~_. iMODIFIEDu ,8PB08321 -I- NO ~ MOOIFIED __ ___ _____ 8PB08323 _ ~__ DEMQLlSH~D 8PB08373 NO EXTANT 8PB08313 _._~Q - 'iEXTANT .~ ~8346' NO 1 EXTANT _ 1~~~~8374' _ ,t-!Q ~TANT _ -~ i . :::~:;~~ . -~t== i~~~~~ . --- 8PB08352 I INO I EXTANT : 18PB08351 i =I.. NQ__iEXTAN1-=____j !8PB08334 _ l..__ NQ n' EXT AIII!......_J j8PB08371.._ i . Np __ ... I DEMOLlSHi:;Q.j 18PB08302 r---iNo EXTANT ; i8PB08301 .~ __u~ i~XTAN-T-___ _I '8PB08330 __Uikely _. EXTANT_~ 8PB08329! 'NO EXTANT 8PB08328 ---;- .--\ NO -TEXTANT-- 18PBOO~E L...J~1f - rTANT- _~ 18PB08327 I iNO. ,EXTANT j8PB08326 lNO . ~TANT - --: 18PB08306 __i -ttiQ --_LE~~T~NT =~j ADDRESS DATE STYLE MAP USE NO, 1 R 08-43-45-15-02-000-0250 - --~~.._--- 2 R 08-43-45-15-02-000-0310 - ~. - --... .----.-- 3 R 08-43-45-15-02-000-0480 4 ~ R 08-43-45-15-0-2~OOO-(i700 --._-------- 5; R ~-'!.3~45-15-02-000-1J 80 6' R 08-43-45-15-02-000-1120 ~ -_._~-_. 7 i R 08-43-45-15-03-000-0036 8 i R 08-43-45-15-03-000-0120 9'-~-'. 08-43-45-15-03-000-0160 10tREC 08-43-45-2-2~OO-002..0020 11~ C 08-43-45-21-32-007-0010 12LL_o~4345-21-~2-003-0200 13: R 08-43-45-21-04-000-0020 -----~~-~ -- .- . :1iL-.B... _.__08-43-45-21-25-001-0080 15 i R 08-43-45-21-10-002-0040 t-- ~----- 1~ _13. .08-43~5-21-32-005-0171_ 17 R 08-43-45-22-03-001-0200 farR---- -08.43-45-22-03-001-0241 _1~ ~_R 08-43=45-21= 18~000-04 70 20 R 08-43-45-21-29-003-0011 .-21TI'f -~-43=4~-21-07-=-00~iooo._ 22 I R 08-43-45-21-07-003-1060 -2~ R---0-S-43-4S=21--07 -002-1600 - - -_._---._~~--~ _~ R uO~4?::45-21-0L:.002-1430 25. R 08-43-45-21-07-002-1450 ---.--..- .~_._._.- 26 R 08-43-45-21-07-002-1460 ----.. -- ~_..~._- ~ 27 R 08-43-45-21-07-002-1470 ------..--- - --.-- 28 R 08-43-45-21-07-001-1500 ,Richard Holmes House ~~; B Ql!-43=4~-=_21-07-001~1}i1Q - 10r~beJ~ NelsonHouse 30 R 08-4~45-21-29-003-00l:lQ lb!i).ian F, ()}'er House2 31 B ~:43-~5-2!=~g=003-0060~, Oyer!jouse_ 32 R 08-43-45-21-29-003-0071 Oavid Eunice House 33. R Of1~=45_~?J-29-003-00~1 -~~~e~oberSOriTl-, House ___~.B. . 08-43_-45-21-30-002-011 0 J.'='~"l.'Y. Roberson HQuse 35 B 08-43-45-21-~9-O02-0100 : Foster_& Deal House 36: R .....Ql!-43-45-21-30-002-0090 i HenlY.. Robersol!...l-l2_lJ!;e 37, R 08-43-45-21-29-003-0052 iCarlos Perez House _~_ R ,0843.45=21~29-003-0041~Anita-GiaI1dfieldHOUse 3~f ~_ ()8-43-45-21-29-003-0034 Jian<:!@ ~ailey House ___.19_L.....!L_~ . 08-43-45-21-30-002-0061 Jose h A.G,Jean House 41 LB. -. OS-4345-21-30-002-0050 AI.b~r:!o Bus..~LHou!;e 42[ R 08-43-45-21-3<>'-QQ2-0~0 ~David Eunice House S:\PlanninaIHUDSONIHISTORIC PRESlhistoricforms I MAP I ijSEl -- DATE' NATLI-ioCAL CONDiTION I PCN NAME ADDRESS STYLE ARCHITECTI FLA MSF l ~~31 ]~n_: --~--_._..._..- ~-~._~--- BUILDER NO. REG --J 08-43-45-21-30-002-0170 Victor H, Trevino House 121 NE 3rd Ave, 1940 Vernacular 8PB08297 , NO EXTANT ~ f~_B- 08-43-45-21-30-002-0231 -- Lucv W. Cavenauah House 407 NE 1 st Street 1930 Vernacular 8PB08308 NO EXTANT , I 45 R 08-43-45-21-30-001-0100 Jacaueline Jacobson House 110 NE 3rd Ave. 1935 Vernacular 8PB08364 NO EXTANT ~ 46 R 08-43-45-21-30-001-0090 Carl H, Arnold House 116 NE 3rd Ave, 1935 Vernacular 8PB08339 NO EXTANT 47 R 08-43-45-21-30-001-0061 Teresa Leiia House 126 NE 3rd Ave, 1947 Vernacular 8PB08296 NO EXTANT 48 R 08-43-45-21-30-001-0050 Sunshine Events Inc, 130 NE 3rd Ave. 1935 Vernacular 8PB08295 i NO EXTANT ~49 R 08-43-45-21-30-001-0010 Gordon Crawley House 313 NE 1st Street 1945 Vernacular 8PB08362 NO EXTANT 50 R 08-43-45-21-18-000-0300 Or. Weems House 409 NE 3rd Street 1925 Vernacular 8PB08342 likely DEMOLISHED 51 R 08-43-45-29-23-054-1290 Jessie Lacy TR. House 829 NW 1st Ave 1926 Mission 8PB08343 Iikelv EXTANT , 52 R 08-43-45-29-23-054-0260 John Johnson House 205 NW 8th Street 1924 Med Rev. 8PB00526 [-- Ves DEMOLISHED 53 R 08-43-45-29-01-004-0220 OorothY Johnston House 701 W. Ocean Ave, , 1924 Med Rev. 8PB00176 likely EXTANT , 54 R 08-43-45-29-01-001-0010 Robert Stogdill (Hartley)House 206 NW 6th St 1925 Mission I IHartley 8PB00177 likely Iikelv EXTANT i 55 C 08-43-45-28-00-000-3100 FEe Warehouse 514 W, Ocean Ave,{move 1895 Vernacular I ,8PB00503 _ ~MOLlSH~ I 56 C 08-43-45-28-00-000-3100 Seaboard Railroad Depot 518 W, Ocean Ave, 1926 Med Rev, ! Gustav Maas, ! 8PB00504 I likely I DEMOLlSHEO , : ! ; , Harvey & I I , ! I : I ! I Clark NO --- -I EXTANT ! 57! R 08-43-45-28-10-001-0010 1402-404 W, Bovnton Be3([-1925 Mission 8PB00493 I 1 i Sulus Computer Corp House -~ ~_ R 1 08-43-45-28-10-001-0091 Gen. Oaniel O'Connel House 203 NW 3rd St. 1 1925 Mission 8PB00514 i likelv EXTANT Audrey Geroer House T- 1926 m I ~. 59~-43-45-28-10-002-o210 -- ,331 NW 1st Ave Mission 8PBoo175 i NO EXTANT i Susan Mize House '330 NW 1st Ave -~-L 1924 -----. i-so, R 08-43-45-28-10-006-0010 Mission 8PB00510 NO EXTANT ~_R 08-43-45-28-10-006-0050 Teresa Willis House 324 NW 1 st Ave, , 1925 Med Rev, ,8PBOO174 likely EXTANT l - , , 62, R ! 08-43-45-28-10-006-0100 Khadev House 316 NW 1st Ave 1925 Med Rev, 8PB00173 i NO EXTANT ~ , 63 R 08-43-45-28-10-006-0130 Susan Murrv House 310 NW 1st Ave Mission - , I 1926 ; 8PB00509 NO EXTANT j I 64 t----B. ~.. 08-43-45-28-10-003-0012 Herminio/Caraballo House -- 204 NW 2nd Street , 1926 Mission 8PB08324 i NO EXTANT n___ I EXTANT I _~~ j ~__ 08-43-45-28-1 0-007-0130 Janniksen (Knuth) House 204 NW 1st Ave i 1926 MedJ~~_ 1 8PB00172 . likely I i 18PB08345 r= NO ! EXTANT I .!?61 PU _j _ 08-43-45-28-10-008-0010 !st United Methodist Church ,101 N. Seacrest Blvd 1945 Gothic Rev, -----r- ,- Annabel & Beverly Jeffrey House 1327 SW 1st Ave, I 1924 ! -~ , 67 i R I 08-43-45-28-10-010-0190 Mission '8PB08298 I ----- NO EXTANT --i- 1 -- Brickbacker House 321 SW 1 st Ave, mi- 1924 Georoian Rev, 8PB08299 - . ~ IEXTANT 68 I R ! 08-43-45-28-10-010-0070 -+--- t-- - Barkley Garnsey House _1316 SW 1st Ave, -----j ~~~.B..._L 08-43-45-28-10-014-0080 , 1941 Vernacular 8PB08300! NO EXTANT 0- 70: R L 08-43-45-28-10-011-0170 Bruce Black House '229 SW 1st Ave, 1922 Mission 8PB00512l INO -- EXTANT I t 71T R 08-43-45-28-10-015-0030 Bernard Tillson House 224 SW 1st Ave 1926 Mission ' 8PB08303 NO EXTANT -~ CA Jefferson House --- I Mission ;:;=+ 72 R 08-43-45-28-10-015-0070 .220 SW 1st Ave 1926 8PB08381 , NO EXTANT Helmut Wellmann House --r ! 73 R 08-43-45-28-10-012-0050 130 W. Ocean Ave, I 1940 Vernacular 8PB08350 NO EXTANT __I i R 08-43-45-28-10-012-0290 John Bums House 135 SW 1st Ave -. 74 , 1947 Mission 8PB08355 NO EXTANT 08-43-45-28-10-012-0350 Helmut Wellmann House -- 125 SW 1st Ave , ~751 R I 1925 Mission --L- 8PB08311 I NO DEMOLlSHEO . 76 R 08-43-45-28-o9-o0~041 Barbara McLane House 102 W. Ocean Ave. 1940 Vernacular I 8PB08389 I NO EXTANT I 77 R 08-43-45-28-10-012-0220 Patricia L. Dunlap House 115 S, Seacrest Blvd 1925 Vernacula~ 8PB00505 Ves EXTANT 1--78 R 08-43-45-28-10-012-0240 Nancv C, Metz House 117 S. Seacrest Blvd, 1925 Mission 8PB00506 NO EXTANT I r--- R 08-43-45-28-10-016-0220 Raford ADartment 215 S, Seacrest Blvd ' 79 1926 Mission 8PB08378 NO EXTANT r- 80 R 08-43-45-28-10-016-0260 Herbert Raford House 107 SW 2nd Ave, 1925 Mission 8PB08305 , NO EXTANT -- 81 PU 08-43-45-28-05-014-0020 Bovnton Beach High School 133 E, Ocean Ave 1927 Med Rev, , 8PB00527 Ves EXTANT 821 PU 08-43-45-28-05-014-0020 Boynton School 141 E. Ocean Ave, 1913 ---.,-,- IVes I Vernacular William W, 8PB00171 ,Ves EXTANT I I I -~ I I Maughlin/ A. I ~ 1 ' ~I-oa-43-45-28-03-003-0112 1208 NE 1 st Street Mellison Ronald Hester House ~10_,Vern!i~_lar i 8PB08309 _ i Iikely__ O.E~9!-ISHED J USE: R-Resio...,tial C-Cor ial PU-PUI. Jse RFr.-RAr.rA::ltinn S:\PlanninoIHUDSON\HISTORIC PRESlhistoricforms . 1RUth Jones House I Jerome Hyman House [Oscar Magnuson House_ _ !Stark House(Daughtery House) i Oyer Building [1i.~rI!..e'y O~ B!19.. . ! R.G,Beane House (Orig :Woma.!l~~S:lub ) i Jefferson Hotel (500 Bldg) : Geller Bid Robert Leifer House _--'.0..-_- I Edith Andrews House IMicheline Many (HB -Murray) ____ ____ _If::louse '15~_Helen '!:y~a_nl-:louse ,HH & Lida Brown House i Henry-&Od.i~~I'l_Ii()use i Naci Ann Ross House _ ______ l~ohn Fitzpatrick Ho-us~ i John Fitzpatrick Garage 08-43-45-28-12-005-0181 iMichael Keefe House' 08-43-45-28-12-011-0100 --rEmslie Stephen (V,G,Weaver) ~ouse 103 i R 08-43-45-28-12-011-0080! Frank ~&~C:~eryIMcCleod H()use 104 i R 08-43-45-28-12-015-0010 i Robert & Patricia Brown House T65f-R 08-43-45-28-07-002-0050 'Michael BowdenHouse ~106T R - 08~43-45-28-oi-oQt:.0101 " GeneMoore-t::iou.se--- 1071 R 08-43-45-28-07-001-0140 - --;steV(;n-Martini House . 108 t R ----08-43-4s:.28-08-000':O080J?~nl'l~~eadows Hous~ .. 109: R 08-43-45-28-08-002-0113: Ora Sweat House 1-=J01.-R 08-43-45-28-07-002-0091 iSurton Metsh House 111T -R 08-43-45-28-08-000-0080 :MiChaeI Bowden House- ~f2r-R--~---08-43-45-28-0~091---~Burton Matsh House .-- ___11 ~_..B_--=,~]i~~-!5-28-Q!3-0QQ-0040 ._ _01fr.e.d Phillips HOUSe . . ..J}~_...8.. 08-43-45-28-08-000-0060 iMichael Bowden House 115 'R 08-43-45-28-07-002-0112 1 Jean Carnahan House j16[nR_ .08.4345-28-07-002-01'12 I Joseph c, R~is Housi 117' C 08-43-45-28-07-003-0010 I Hidden Brook Cafe _ 118j-nC 08-43-45-28-07-003-0091 lMary Law House_ __ 119! R 08-43-45-28-24-000-0231 ~ichael & Linda Borsos House 120 PU 08-43-45-28-24-000-0040 I Boynton Woman's Club MAP USE NO. -~__B., .... 85 R 86L R -+ 87' C ---l- -- 881 C ~nc 90! C 91, C ~92L C 93' R . '94'-R~ --1 - 951 R 96 R 97 R ~, R 99' R 100 R R R R 101 102 peN 08-43-45-28-03-003-0111 08-43-45-28-03-004-0110 08-43-45-28-03-004-0130 08-43-45-28-03-005-0080 .~_.~_._._._--_._----- 08-43-45-28-03-005-0100 08-43-45-28-03-006-0100 _._-_._-~-----_..._._-_. 08-43-45-28-03-007-0071 08-43-45-28-03-007-0032 ~-----~-_._- 08-43-45-27-04-000-0021 08-43-45-28-03-007-0081 08-43-45-28-03-011-0040 ----------. ---~~-- 08-43-45-28-03-011-0071 08-43-45-28-03-010-0150 - -------.-- 08-43-45-28-03-011-0071 --~ --- 08-43-45-28-12-002-0160 - -..----.---- -- 08-43-45-28-12-003-0080 08-43-45-28-12-004-0110 NAME , 1 121 C' ---08=43-45-27-05-000-0011 -'lee Manor Inn---- 122 R ~_-~_3_~~~__=_?~: I~~oo8-00~ 1 rBroo~!~_!:.axto~H~~'~~_ ___ 12-3 i C 08-43-45-33-00-000-1430' Alberts & Merkel USE R-Residential C-Commercial PU-Public Use RFr.-Rpr.rp"t;()n ADDRESS [201 NE 1st Ave, 209 E, Ocean Ave, -------- 211 E, Ocean Ave, ~05 E. Ocean Ave, f413 E, Ocean Ave, ,527-531 E, Ocean Ave, i 502 E:Ocean Ave~ '-----~~-- 1500 E, Ocean Ave, 1104-110 S, Federal Hgwy t --. ___n.. 1!1~ SE 4th_~t 1.306 SE 1st Ave i217 SE 3rd St ,216 SE 3rd St i~9.4_S~ ~aci-est Blvd i 1..!~ SE 3rd ~ve ,119 SW 3rd Ave [101 SW 4th Ave 1115 S, Seacrest Blvd, ! 125 SE 4th A,!~ 104 SE 5th Ave 118 SE 5th Ave -~-~_._- : 701 S, Seacrest Blvd i 407 SE 4th St 1'..-----.---.. 1412 SE 4th ST -;414 SE 4th St. i419S-E4til-st. .------ ~.?_t~ 4tl!_~: ,513 SE 4th ST. -1418 SE 4th Ave 1515 SE 4th St. [417 SE'4thAve- i416 SE 4th Ave 1415 SE 5th AVe 421 SE 5th Ave !601-s.-FecteralHa.wy .[625 S, Federal Hg.,vy '918 SE 4th St. TI-010 S, Federal Hg;;.,y .11120 S, Federal!:lgwy ,114 SW 12th Ave --;2210-8, FederalHg-viY DATE STYLE ARCHITECTI BUILDER NA TL LOCAL CONDITION ,REG i ' I I~:tl~i~~i-=--- u I::~y ~~~~D -j"'l'es IEXTANT .- iNO 'EXTANT !yes I DEMOLISHED 1940 iVemacular 1919 Vemacular --- -~ 1919 Vernacular 1905 'Vernacular 1912 Mission -.- --~----~-_._-_. 1924 Commercial . -1910 !VernsCular I i _ L--._._....________._ 191~~~C~ . 1920 ICommercial._.:.. 1928 Mission 1909 Vernacular --~ _.- 1913 Vernacular I/H,8, Murray --rlikeIY' DEMOLISHED NO EXTANT ~El,Iy_ OEMOLlSHED IVes EXTANT :VesIEXTANT , , j~ I~: . .~~ . u IJ.Pl1nf<le.F_18PB08316 .likell'. EXTANT i8PB08359. iNO- EXTANT 18PB08304 ~ _ ~TANT -[8PB08353 NO EXTANT i 8PB08318 NO EXTANT ! 8PB08~~ _ . .Ilike~ l~~ANT ~ ;8PB00523 ~IL ,EXTANT _ i8PB00508 u 'NO EXTANT 18PB08317 1NQ- EXTANT.....-J 18PB00519 --~_ -_j.pEMOLISHED: ! 8PBOO520- . 1~9 I DEMOLISHED 18PB08332' NO : DEMOLlSHEO j 8PB08331 . ' NO EXTANT ! 8PB08337u -'-------rN6 DEMOLISHED !8PB08356 i- ----rNc> DEMOLISHED +8PB08372' . .'INO DEMOLISHED ,BPB08357 .,.~." n iNO DEMOLISHED I ~::::;~:F-~-j- ~;>~iSHE-D j8PB08385~-iN6n_-u_IEXTANT ~=--- '8PBQ.(t~~~, _~Ii~.!Y DEMOLlSHEIJ,_ .8PB08365 L __ lik~lY_ EXTANT ___ ~ 8PB08319u i_ ~O ,EXTANT___: 8PB00098 :ves i Yes I EXTANT ' , ~ 1 1=:~~f-~~-~Y:~~. -=!~i~~~" un ' _L?'p~Q~~2. T!iI<~lyJyes-- j DEMOLISHED_ 1~.?~ :Ver~cular 1920 iVernacular 1926 ~Rev,:_. I 1. 930 I Mission 1925 Mission ----.-- --.. 1925 Mission 1926 Mission --~- . 1926 IMed Rev, . _____~-n 1924 IMed Rev, , 1926 (Med Rev, 1920 iVernacular 1.926 . [Vernicular- 1926. IY~n.acular J. 930 -f Vernacular T . 1935 'Vernacular 1925 Vernacular 1925 Vernacular 1925 Vernacular ---- --.-- 1910 Vernacular 1925- I VernaCular 1920 Vemacular --.-. ----~- 1930 Vernacular ..1925~- rvemacular 1914 Vernacular - --- 1925 Mission ---'-- - 1926 Med Rev, iAddison .l-- : ~znerl . ..19.~~galow_~_ 1925 i Mission '._ 1936 1\lE!rnacular S:IPlanninaIHUDSONIHISTORIC PRESlhisloricforms MAP I USE NO. I 123 C 123 C _123 C 124, R PCN T NAME ADDRESS I DATE STYLE ARCHITECT/I FLA MSF __ BUILDER' NO. 1939 Vernacular 8PB08388 -- 1939 Vernacular 8PB08380 1939 Greenhouse 8PB08387 1926 ~ssion ~ .8PB08360 1941~vern~c~ular_ _ '8PB08390 _ 8PB00495 ~ 8PB00515 f-----j-- ' _ _ 8PB00524 ! __--+-- ~ _ 8PBOQ5~_ --+ + -- -1 NATLILOCAL' REG 'likely Yes likelY Yes likely Yes likely likely CONDITION -- 0 R 08-43-45-28-10-013-0041 Alberts & Merkel Alberts & Merkel Alberts & Merkel Kimberleigh Fay (F,W.webber) House Corcoran House 2210 S. Federal Hawv 2210S, Federal~_ 2210 S, Federal HQWV 3641 SE 1st ST, DEMOLISHED DEMOLlSHEO DEMOLISHED EXTANT 08-43-45-33~0~00-1430 08-43-45-33-00-000-1430 08-43-45-33-00-000-1430 08-43-46-04-02-000-0090 , _ ___--1- t ___n______-=-~------ =1---+-- -- --- - -T:--j-! ....... ut-=t-.:-\_ i=::d ~___~==_1==~_==n=__~~1 -- -=f-- _ - ---T ~ -nut ------- --] I - I -i U_! n! T -----~ -~~_-_=t--~_:r1_~*:-Fn~:_: ..~ i -.:-j --- f-------- , ---r- .+-- i +-- likely DEMOLISHED DEMOLlSHEO OEMOLlSHEO DEMOLlSHEO DEMQ!.!~HIEO - I I .~ - ! I i I 215 SW 3rd Street 2200 Federal Hwv 331 NW 3rd Aye -- _ _ _______ 509 SE 5th Ave 113 NE10thAye --- --_._-~~ , r t--- I [~=FC:~CM_ I : T j I ------t-- in__ i ---=-+ ----_~-__l-- i i · :..J- _n_ - - i L----J--- . ___________1 ~ft::__- =- -:-:-L_ USE: R-Resirk ~tial C-Co'" ial PU-Puh..., ..Jse RFr..RAr.rARtinn S.IPlanninaIHUDSONIHISTORIC PRESlhistoridorms TAB 8 T:\ADMINISTRATIVE\Templates\Tab Pages. doc 1I!~~<!Y~Te~.c .... . East Side-West Side-Seaside Renaissance May 14, 2009 Duane Stiller Woolbright Development 3200 North Military Trail, 4th Floor Boca Raton, Florida 33431 Dear Mr. Stiller, We here at the Boynton Beach Community Redevelopment Agency (CRA) understand the current economic times are very challenging for our local businesses. It is our mission as well as part of our Downtown Master Plan to work with our developers and businesses to ensure success. As our community partner, we were glad to assist Woolbright Development with its renovation efforts such as providing a $15,000 Commercial Fac;ade Grant. The changes made to the Plaza have made a significant difference to both Sunshine Square and your ongoing efforts for Riverwalk Center which are both located within the CRA district. The CRA is the economic engine providing events for the entire City and aggressively marketing the entire district. In our efforts to be proactive and to stimulate summer business at the four comers of Woolbright, we contacted Cary Fronstin, Property Manager for both centers. Our goal is to see how we can work together to promote and market the Sunshine Square and Riverwalk Center businesses. In the meantime, if there is anything I can do to assist you with any matters of concern please let me know. Sincerely, dL c. -&tJ-} Lisa A. Bright CRA Executive Director 915 South Federal Highway Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 www.boyntonbeachcra.com TAB 9 T:\ADMINISTRATIVE\Te~plates\Tab Pages. doc l~ffr~T8~RA ~ East Side"'West S'lde...Seas'lde Rena'lssance May 14, 2009 Hurricane Alley Ms. Kim Kelly 529 E. Ocean Ave. Boynton Beach, FL 33435 RE: Marketing Program Dear Ms. Kim Kelly: Great news!!! The Boynton Beach Community Redevelopment Agency (CRA) is launching a Downtown Economic Marketing Program, free to all businesses located within the CRA district, to assist you in promoting your products, services and specialties. CRA staff will be contacting you in the next month to set up an appointment to stop by your business for an on-camera interview, This video footage will be edited and linked, along with still photos, contact information and description of your business, to the "CRA District Google Map," web pages we are creating specifically for this new marketing campaign. Our goal is to drive customers and business to the downtown Boynton Beach area, and with your help, we will make this happen. In the interim, please be sure to visit our website to learn about opportunities available to you as a business owner, such as the Commercial Fayade Improvement Grant Program, at www.bovntonbeachcra.com. Thank you in advance for your time and we look forward to your participation in this exciting project! Lisa A. Bright CRA Executive Director , - ----~-- ------ -- -- - - - -~------- - - TAB 10 T:\ADMINISTRATIVE\Templates\Tab P~es.doc Ideas beine: Researched or Reconsidered: . Brownfield Designation . Tenant Improvements . Commercial Fa~ade . Revolving Loan Funds . MLK Land Swap TAB 11 T:\ADMINISTRATIVE\Templates\Tab Pages.doc Ideas or Concepts for Enhancement of the Central Business District: . Revolving Loan Fund District Wide . Small Business Education and Training Classes District Wide . Business Rent Assistance Grants . Site Development Assistance Program . Paint Up Program . Business Relocation Program . Job Creation Grants . Residential Improvement Grants for Rental Property Owners . Low Interest Loan Programs ~!I~'tY~T8~ eRA iii East Side-West Side-Seaside Renaolssance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I X I Old Business I I New Business I I Legal Other SUBJECT: Administrative Policy Manual- CRA staff master calendar SUMMARY: At the February 10,2009 meeting, Attorney Cherofsuggested that CRA staff maintain a master calendar so Board members are able to research how staff action developed, who was involved in the process, and whom they met with. After the meeting, CRA staff polled four cities (including the City of Boynton Beach) and four CRA's. Not one ofthe municipal entities utilized a "Master Calendar" to collectively track individual staff appointments within one calendar. As a matter of standard operating procedure, every entity surveyed reported using Outlook software for their calendars including the City of Boynton Beach. The Outlook program is preferred by most organizations throughout the nation due to its ability to share and view individual calendars. Under the program, a user can elect to share their calendar allowing other users to view their calendar. A master calendar can be created showing all staff appointments but it is static data because the calendar changes hourly. Many staff hours are spent on walk-ins which would not be on the calendar until after the fact. Currently, the City of Boynton Beach does not have a policy requiring all staff to share their Outlook calendar with the City Commissioner's as a master calendar. The Commission can opt to implement such a program allowing City Commissioners to view each City employee's calendars. If the policy is adopted Citywide, it would be appropriate to implement it for the CRA. Another consideration in the creation of a policy to allow the viewing of employee calendars is in conflict with the approved 2006 CRA Board Rules of Governance which separates and defmes the roles of the board as policy makers and as the Executive Director as the administrator of the operations and day-to-day activities including staff. FISCAL IMP ACT: None. CRA PLAN, PROGRAM OR PROJECT: Administrative Policy RECOMMENDATIONS: Implement concurrently upon City implementation. ~ Bright, Executive Director T:\AGENOAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Master Calendar,doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida February 10, 2009 The following sections were discussed: The Interoffice Complaint form, part of Human Resources Manual was removed. It was clarified the Human Resources manual was a part of the Administrative Policy Manual. The update separated the policy manuals, which were still in place, and made the document more user friendly, The Grants Management Section, under Economic Development was removed, When the policy was created, an Economic Development position was contained in the organizational chart, There were four employees working at the time, with additional positions anticipated. Since then, staff compiled job descriptions and tasks, put them in one section, and made the Administrative Policy Manual handle only administrative functions, The document was similar to an operating manual. It was noted job descriptions were different from an operating manual. Ms. Buckley suggested the old manual be reviewed, as the procedures were not taken away; they were relocated to a more appropriate section. The Quasi-judicial Proceedings were removed at the recommendation of legal counsel; however, there was discussion those were the types of issues that would impact the Board, and the Board members needed to be aware of them, Vice Chair Rodriguez requested a very brief listing of the most important items changed the changes made. He also requested a list of the top five items that had the greatest impact on staff and the Board. Ms, Buckley agreed to forward them, Jim Cherof, Board Attorney, explained the preparation of the Administrative Policy Manual was a tedious task. He worked with Ms. Buckley on it and praised what she accomplished. He noted the document contained a summary of changes, which he reviewed. The Booking of Appointments section was removed. Attorney Cherof suggested the CRA staff maintain a master calendar so Board members are able to research how staff action developed, who was involved in the process, and whom they met with. Many public organizations maintain a master calendar. The Document Identification Section was removed. Attorney Cherof suggested the footer in the Administrative Policy Manual reflect where the document is located electronically, From a public records review, he recommended footers be used on all documents, so if a request was made, the document could be tracked, The Policy and Procedure Agenda was reviewed. The section sets the procedures for how the agenda is developed. It specifies the Executive Director would meet with each Board member to discuss any agenda questions prior to the meeting. Attorney Cherof suggested, "The Executive Director shall meet with each Board member who desires to meet, to discuss any agenda questions." The language removed the implication the Board members have a mandatory duty to meet with the Executive Director, It was 3 accordance with CRA policies and procedures and subject to reimbursement to the CRA of the actual cost or value of the non-CRA related use of such services or properties. E. Miscellaneous. II. ADMINISTRATION A. The CRA Board, by majority vote of its membership, shall appoint an Executive Director who shall serve at the pleasure of the Board. The Executive Director shall be appointed on the basis of executive and administrative qualifications as established by the Board. The compensation and benefits of the Executive Director shall be detennined by the Board. The Board shall annually review the Executive Director's performance. The Assistant Executive Director, in the absence of the Executive Director. shall perform the duties of the Executive Director during his/her temporary absence. Should the position of Assistant Executive Director not be filled, the Executive Director shall designate an individual who shall perlorm the duties of the Executive Director during his/her temporary absence. B. The Executive Director shall be responsible to the CRA Board for the proper administration of all affairs of the CRA coming under his/her jurisdiction and to that end the Executive Director's powers and duties include: 1. To see that the policies and directives of the CRA Board are enforced. 2. To administer and manage the day to day operations and activities of the CRA. 3. consideration. To prepare and submit an annual budget to the CRA Board for its 4. To attend all meetings of the CRA Board with the right to take part in the discussion but without having a vote. 5. To recommend to the CRA Board for adoption such matters as he/she may deem necessary or expedient in the interest of the CRA. 6. To employ and remove all employees of the CRA; provided however. that independent contractors such as the CRA attorney, consultants and other contract vendors shall be appointed and removed in the sole discretion of the CRA Board. 7. To make such reports as the CRA may require concerning the operations of the CRA. 8. To expend CRA funds or authorize the expenditure of CRA funds only in compliance with State and City law, the budget approved by the CRA Board. obligations incurred in the nonnal course of eRA business nnd as otherwise authorized by the eRA Board. 9. To perform such other duties as may be directed by the eRA Board. C. No member of the CRA Board shall dictate the appointment of any person to office or employment by the Executive Director or in any manner interfere with the Executive Director or prevent him/her from exercising his/her own judgment in the appointment of employees in the administrati ve service. D. The Executive Director shall be the administrative head of the CRA under the general supervision of the CRA Board. Except for the purpose of inquiries and investigations, neither the CRA Board nor its member shall deal with CRA employees who are subject to the direction and supervision of the Executive Director, or with contractors, suppliers or vendors of the CRA except through the Executive Director, and the CRA Board members shall not give orders to any such employees, contractors, suppliers or vendors either publicly or privately. Except as specifically directed by the eRA Board as a whole, and as otherwise reflected in officially adopted and enacted Board resolutions, policies and procedures, the Executive Director shall have the sole authority and responsibility to direct the actions and tasks of CRA staff. Nothing in the foregoing is to be construed to prohibit the CRA Board from closely scrutinizing by questions and personal observations, all aspects of eRA operations so as to obtain independent infOlmation to assist them in the formation of sound policies to be considered by the CRA Board. E. In order to insure the effective and efficient performance of staff duties and functions, office visits by Board members with the Executive Director, or through the Executive Director, other members of the eRA staff, shall be scheduled by appointment through the Executive Director or his/her designee. All meetings with more than one (1) Board member at a time shall be publicly noticed as required by law. F. Between official Board meetings, the Executive Director shall endeavor to keep Board members reasonably informed of events or situations affecting the CRA which, in the view of the Executive Director, require Board notification prior to the next Board meeting or workshop. In the event the Executive Director is required, due to unforeseen and/or uncontrollable circumstances, to deviate from a course of action he/she was directed to take by the Board or had otherwise publicly announced, he/she shall immediately consult with the Board chair, or in his/her absence, the Vice-chair, and will provide notification to the remaining Board members as soon thereafter as practicable. All such actions and communications shall be conducted in full compliance with Florida's Govemment in the Sunshine and Public Records Laws. 1:\Client Documenls\Boynlon Beach eRA \24 I 9-000\Misc\Rules of Governance.doc ~~.~l'" r~ .-.; ~~~<tY~T8~~CRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: June 9, 2009 I I Consent Agenda I X I Old Business New Business Public Hearing Other SUBJECT: Approval of funding up to $50,000 from the Homebuyers Assistance Program to Latasha Norfus and Rakera Ramsey (Pulled Consent Item, June 9, 2009) SUMMARY: At the June 9, 2009 CRA Board meeting, the Board voted to table this item pending the result of a second appraisal. Attached for the Board's review are both appraisals verifying the value of the contract sales price of $223,000 for the unit being purchased. The appraisal values are as follows: Appraisal! - Real Estate Analysts: $223,000 Appraisal 2 - Peyton Appraisals: $223,000 It is important to note in your review that the City of Boynton Beach has approved the applicant for grant funding under the SHIP program without the consideration of an additional appraisal (attached). Ms. Latasha Norfus and Ms. Rakera Ramsey are purchasing a single family residence located at 222 NW 7th A venue, the fourth of eight (8) R TG Construction built single family homes which were approved by the CRA Board to receive HAP program funding. Ms. Norfus and Ms. Ramsey's household income has been certified as very low income per HUD 2009 guidelines. Ms. Norfus and Ms. Ramsey will execute the CRA HAP documents which require the CRA to share the equity in the event the property is sold within 30 years of closing date. The HAP grant application, as submitted and reviewed, meets the criteria set forth in the approved program guidelines and therefore does not require a wavier of any kind. FISCAL IMPACT: Up to $50,000 from Bond II proceeds. Line Item 58300-473. eRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Plan, Homebuyers Assistance Program RECOMMENDATIONS: Approve up to $50,000 from the Homebuyers Assistance Program budget to assist Latasha Norfus and Rakera Ramsey in the purchase of 222 NW 7th Avenue, subject to execution of the CRA's mortgage, note and agreement at the closing of the property. ~~~~ Michael Simo , Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7 -14-09 Meeting\Norfus-Ramsey HAP-untabled,doc Jun, 2. 2009 10:34AM Boynton Beach ~alth based CDC 111 No. 3026 p BOYNTON DKAeH FAIm BA..4iED COMMUNITY DEVELOPMENT CORPORA TIO)\T ::n,. NO. SEACRm'I' HI.VD.-BOYNTON 1lJo:A("1f. FL3343S -PIlONK: !i(l1-752-0303 --FAX: ~1-"152-G02 APPUCANT PROFilE / ANALYSIS DATE: Mav 4. 200~ - Reviled June 2. 2009 CUENT NAME V!RtftII) ANNUAL INCOME Latosha Norfus: $22.297.60 - (aT) $2,588.40 Gross Annual Income: $25,292.84 (Next 12 Months) Note: MS.Norfus has not recived her annual merit increase as of May 5, 2009. Rakera Ramsey:$7020.00 (Daughter) C:\Dt~1s And Sllt1.~OwMnM)' r~t.Prord41'%5Rl"-"'Y..l00rieinllllJ.Doc Notf_,Dnc Boynton Beacn Faith Based CDC No. 3026 P. 3 DATE: t,- 2- Or;- C:\DOC1IdlenllI AllIS ~OWfteI\My Iloc\ImeIlIII\Appllo.CPmI"~B l%S])%1Opriaiftlll1].Duc Noffusc.Doc ~Swasid@ N...U... ...lft"."'-taTil-ht Date: Lender: Contact: Phone: Cell: Fax: Buyer(s): Seller: REQUEST FOR SUBSIDY May 30,2009 Seaside National Bank & Trust 4290 Professional Center Drive, Suite 201 Palm Beach Gardens, FL 33410 Peggy S. Miller (561) 537-4048 (561) 602-9606 (561) 340-1225 Latasha Norfus Rakera Ramsey ZMJ Investments, LLC RTG Construction, Inc. Property Address: 222 NW 7th Avenue Boynton Beach, FL 33435 Year Built: 2008 Bedrooms: 3 Garage: 1 Square Footage: Bathrooms: 2 1326 Purchase Price: $223,000 Loan Amount $113,960 (Base loan $112,000 + $1,960 MIP) Subsidy Requested $50,000 Household Size: 6 Annual Income: $40,400.84 Income Classification: Very Low Monthly Housing Expense/Front Ratio: $1037.47/29.145% All other Monthly Debt/Back Ratio: $381.00/42.658% IFile No, 095-12347481 Paoe #21 File No, 095-1234748 A SUMMARY APPRAISAL OF A SINGLE FAMILY RESIDENCE LOCATED AT 222 N.W. 7TH AVENUE BOYNTON BEACH, FLORIDA 33435 FOR SEASIDE NATIONAL BANK & TRUST 201 S. ORANGE AVENUE #1350 ORLANDO, FL 32801 BY RE ANALYSTS-RESIDENTIAL, LLC. 1881 N.E. 26TH STREET #237 FORT LAUDERDALE, FLORIDA 33305 PHONE: 954.760.7990 Form DCVR - "WInTOTAL' appraisal software by a Ia mode, Inc, - l-llOO-ALAMODE RE. Analyst' REsidential Lc [File No, 095-12347481 Paoe #31 Summary Appraisal Report Uniform Residential Appraisal Report 09-1209 FBe # 095-1234748 The Dumose of this summarv aDDliIlsal nmort 15 to provide the lender/clent wnh an accurate, and adequat~v supported, Dpinlon of the market value Df the sublect Drooertv, ProDertv Address 222 N,W, 7TH AVENUE Citv BOYNTON BEACH State FL ZiD Code 33435 Borrower NORFUS & RAMSAY Owner Df Public Record ZMJ INVESTMENTS, LLC, County PALM BEACH -- LeDal Description BOYNTON HILLS LOT 117 BLOCK C, ----- _.._--~----_...._-~.._-_..- -- Assessor's Parcel # 08-43-45-21-07-003-1170 Tax Year 200t RE, Taxes $ 889,78 Neiohborhood Name BOYNTON HILLS Map Reference 45-43-21 Census Tract 0061 ,00 Occupant Il Owner Il Tenant !XI Vacant SDeclal Assessments S o,or i PUD HOAS n Der vear I per month .. Prooertv Rlohts ADDralsed IXI Fee Slmole r l Leasehold [J Other (describe AssiDnment TVDe !XI Purchase Transaction rTReflnance Transaction 11 Other {describe; Lender/Clent SEASIDE NATIONAL BANK & TRUST Address 201 s, ORANGE AVENUE #1350 ORLANDO FL 32801 15 the SUbject orooertv currentlv offered for sale or has n been offered for sale In the tweive months prior to the efIective date of this aDoralsal? [ZJ Yes o No -- Reoort data source{s) used, offerlnn orlcels], and date/st, THE SUBJECT WAS LISTED WITH AN ASKING PRICE OF $223 000, I [ZJ did 0 did not analyze the contract for sale for the SUbject purthase transaction, Expiain the resuns of the analysis of the contract for sale or why the analysis was not performed, THE SUBJECT IS CURRENTLY UNDER CONTRACT FOR $223,000. THE CONTRACT WAS FULLY EXECUTED ON 3/25/2009 Contract Price $ 223 000 Date of Contract 3/25/2009 15 the property seier the owner of public record? IX1 Yes 0 No Data Source(st TAX RECORDS 15 there any financial assistance Qoan charges, sale concessions, gift or downpayment assistance, etc,) to be paid by any party on behalf of the borrower? [ZJ Yes 0 No . If Yes, reoort the total dollar amount and describe the Items to be paid, THE APPRAISER WOULD LIKE TO NOTE THAT THE BUYER IS TAKING PART IN THE BOYNTON BEACH CRAPROGRAM WHICH IS GRANTING A!l:112 000 SUBSIDY TOWARD THE PURCHASE OF THE SUBJECT HOME, Nole: Race I/1d the racIIIS oIlhe nelahborhood .. nollllllrllul flCtora. NtlIllhbOlhooil ... ItIC8 OnrUriIt HouIIno Trends OnrIlnlIHouafno ~L8ndU.% Location Il Urban [ZJ Suburban TI Rural Property Values r Increaslno o Stable [ZJ Decilning PRICE AGE One-UnJt -~ . Buln-Uo !Xl OVer 75% l 25-75% n Under 25% Demand/Suoolv r Shortaoe Illn Balance IXI Over SuoDIv $ (000) --1VrSi 2-4 Unn % : Growth o Raold [ZJ Stable nSlow Mark8lino Time r Under 3 mlhs [ZJ 3-6 mths II Over 6 mlhs 40 Low NEW Multi-Familv 10 % . NelDhborhood Boundaries THE SUBJECT IS LOCATED SOUTH OF GATEWAY ROAD NORTH OF 300 Hloh 55 Commercial 5% : BOYNTON BEACH BLVD, EAST OF 1-95 AND WEST OF FEDERAL HIGHWAY 60 Pred, 50 Other 10 % Nelahborhood DesCription See attached addenda, Market Conditions fincludlng support for the above conclusions) See attached addenda, Dimensions IRREGULAR Area 5227 SQ,FI.' ShaDe RECTANGULAR View RESIDENTIAL Soeclfic Zonlno Classification RIA ZonlnD DescrlDllon SINGLE FAMILY 'PER TAX RECORDS .--....------- Zonlno ComDHancelX1 LeDal r1 LlUlal Noncanfarmlno (Grandlathered Uselll No Zenina 11l11eaalldescribe) 15 the hlohest and best use of SUbject rirririertv asllTlProved (or as prooosed oer plans and soeclflcatlans) the present use? c::<J Yes ONo If No, describe ----- UlIUUeI Public Other (deIc"be) Public Olher (deIc"be) Off-lllelmprovsmenll - iVDA Public Prlvlle Electricltv !Xl 11 Water [X] I I Street ASP HAL T ['X:J 11 Gas n Il Sanitary Sewer [X] I I AIIev NONE 11 I I FEMA Special Rood Hazard Area 11 Yes IXI No FEMA Flood Zone B FEMA Map # 1201960004C FEMA Map Date 9/30/1982 Are the utilities and off-sne Imorovements tvnlcal for the market area? [ZJ Yes [ 1 No n No, describe Are there anv adverse stte conditions or external factors (easements, encroaclments envlranmental condlflons,land uses, etc,t? '1 Yes !Xl No If Yes, describe NO APPARENT ADVERSE EASEMENTS ENCROACHMENTS OR OTHER ADVERSE CONDITIONS NOTED, TYPICAL UTILITIES AND ANY OTHER EASEMENTS OF PUBLIC RECORD, SUBJECT TO SURVEY AS NONE WAS PROVIDED, GennllluaIaIIon F~ EItIIfor IlIIlIrIoIIon ~'-dltlon InIerlor ~~ Unns IX] One Il One with Accessorv UnJt IIX1 Concrete Slab I I Crawl Space Foundation Walls CONCRETE/GO Floors CPT TILEINW-GD # of Stories ONE l FuU Basement I I Partial Basement Exlerlor Walls CBS/GO Walls DRYWALUNW-GD Type IX] Det, il Att, n S-Det.!End Unn Basement Area N/A sa,ft. Roof Surface METAUGD TrirrVAnlsh WOODINW-GD l ExIstino !'Xl ProDosed n Under Const, Basement FInish N/A % Gutters & DOWf1Soouts NONE Bath Roor CERAMIC/NW-GD Deslon ISMet RANCH l Outside Entrv/EXit [J Sump Pump Window TVDe IMPACT/GO Bath Wainscot CERAMICINW-GD Year Bullt 2009 Evidence of Illnfestatlon NONE NO Stonn Sash/lnsuiated INSULATED Car Storaoe r 1 None Effective Aoe IYrs\ NEW 1 Damoness 11 Settlement Screens YES iXl Drivewav # of Cars 1 Attic None HeatlM IX1 PNA III HWBB 11-1 Radiant AmenItIes Woodstove(s) # Drlvewav Surface ASP HAL T l Drop Stair Stairs l Other I Fuel ELECTRIC l Rreplace(s) # Fence !XI Garaoe # of Cars 1 CAR G, l Roor Scuttle Coollno IX1 Central Air Condlflonlna !Xl PatlO/Deck Porch l CarDort # of Cars l Rrished Heated l IndMdual Irl Other l Pool Other !'Xl Att, o Del. n Bultt-in ADDUenceslX1 Refrioerator !Xl RanoelOven IXI DIShwasher 12<;] OIso05al IXI Microwave IXI Washer/[)ver 0 Other (describe) Rnlshed area ebove Dlilde contains: 7 Rooms 4 Bedrooms 2 Bath(s) 1 326 Sauare Feet of Gross LMng Area Above Grade ~ Additional features Isoeclal enerov efficient nems, etc.\. METAL ROOF IMPACT WINDOWS AND GRANITE COUNTERS, -- Describe the condlflon of the Drooertv IIncludlno needed r8Dalrs deterloratlon, renovations, remodeUna, ete,), THE SUBJECT WILL BE IN OVERALL NEW/GOOD CONDITION FOR AREA UPON COMPLETION, NO FUNCTIONAL OR EXTERNAL 08S0LECENCE WAS NOTED UPON INSPECTION, ESTIMATED REMAINING ECOMONIC LIFE = 60 YEARS, THE SUBJECT CONFORMS TO MINIMUM FHA STANDARDS, Are there anv ohvslcal deficiencies or adverse condlflons that affect the Ilyablltv, soundness, or structulilllntearltv of the orooertY? l Yes !XI No If Yes, describe - -- Does the orooertv Denerallv confonn to the nelohborhood nunctlonal utllltv, slVle, condnlon, use, construction, etc,)? IX1 Yes Il No If No, describe Freddie Mac Form 70 March 2005 Page 1 of 6 Fannie Mae Form 1004 March 2005 Fonn 1004 - "WlnTOTAL' appraisal software by a la mode, Inc, -1.80D-ALAMODE IRle No, 095-12347481 Pace #41 09-1200 Uniform Residential Aooraisal Reoort ~ FIe# 095-1234748 There are 45 comoarable orooerties currently offered lor sale In the sublect ntHIbborhood ranolno In orlce from $ 39 900 to $ 399 900 There are 17 COIIIlarable sales In the subiect nelohborhood wI1hIn the oast tweNe months ranotno In sale orIea from $ 40 000 to $ 280 000 FEATURE I SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 222 N.W. 7TH AVENUE 709 N,W, 2ND STREET 603 N, SEACREST BLVD, 220 S.W, 1ST AVENUE, BOYNTON BEACH FL 33435 BOYNTON BEACH FL BOYNTON BEACH FL BOYNTON BEACH FL Praxlmltv to Sublect 0,06 miles SW 0,18 miles SE 0,48 miles S sae Price $ 223 000 1$ 223 000 $ 208 831 1$ 199 900 Sale Pricl/&oss L1v, Area $ 168,17 so,lI, $ 168.17 so,lI,l $ 159.66 so,lI.I $ 106,84 so,lI,l Data Sollte!s) ISClMLS/AGENT ISClBUILDER ISClMLS/AGENT VertIlcatlan Sourcelsl MINDY WOOSTER MINDY WOOSTER BUBIL TILSON VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $Adjustrrnrll DESCRIPTION +1-1 $ Adlustment DESCRIPTION I +(-) $ Adjustment Sales or Rnanclng I CONVENTIONA CONVENTlONA CONVENTIONA, Concessions CRA SUBSIDY CRA SUBSIDY NO CONCESSItI Dale 01 SalelTlme 2/09-GLOSED 12/08-GLOSED -10441 4/09-CLOSED 1 location BOYNTON BC BOYNTON BC BOYNTON BC BOYNTON BC I Leasehold1fee Slmole Fee Simole IFEE FEE FEE , SIte 5227 Sll,Ft.* 4 791 SF \ 5663SF \ 6 500 SF) View RESIDENTIAL RESIDENTIAL BUSY STREET +20 000 RESIDENTIAL Design /SMel RANCH RANCH RANCH RANCH QualItv 01 Construction AVG/GOOD AVG/GOOD AVGlGooD AVGlGOOD AcIuaJ Aoe 2009 EFF-o} 2008 EFF-O\ 2008 EFF-O\ 1935 EFF-15\ Condition NEW/GOOD\ NEW/GOOD\ NEW/GooD\ GOOD\ +44 1 00 Above Grade Total I Bdrms,! Balhs TotaIl8drms, I Baths TolaIIBdrms.1 ar.hs ToIaIl Bdrms, I Baths Room Count 7 I 4 I 2 7 I 3 I 2 6 I 3 I 2 6 I 3 12.5 -2 000 Gross Llvlno Area 1 326 SQ,II, 1 326 SQ,II, 0 1 308 so,lI, 0 1 871 so,lI, -27,250 Basement & Rnlshed N/A NO BASEMENT NO BASEMENT NO BASEMENT Rooms Below Grade Functional Utilltv ADEQUATE ADEQUATE ADEQUATE ADEQUATE HeaUl1lI!Coolno CENTRAL CENTRAL CENTRAL CENTRAL EntJov Elftclent Itml TYPICAL TYPICAL TYPICAL TYPICAL I Garaol/Camll/l 1-GARAGE 1-GARAGE 1-GARAGE 2-GARAGE -10000 PorcII,fa\lalDeck ENTRY PORCH ENTRY PORCH ENTRY PORCH ENTRY PORCH EXTRAS & UPG GO. EXTRAS GD,EXTRAS GO, EXTRAS AVG.EXTRAS +5 000 Poo~ATlO PATIO PATIO PATIO PATIO DAYS ON MARKET 40 DAYS 120 DAYS 308 DAYS Nil Adluslment IT ota/l rl + rl- $ I'XI+ l- $ 9559 I'XI+ n- $ 9850 Adjusted Sale Price NIlAdj, % NetAdj, 4,6 % NetAdj, 4,9 % ofCorrwabIes Gross Adi. %$ 223 000 Gross Adl. 14.6 % $ 218390 Gross Adi. 44,2 % $ 209 750 I IX! did I I did not research the sale or transfer history 01 the sublect or oollllv and cormarable sales, II not, ftlCIllaln lesea~ XI did n did not reveal any orlor sales or translers 01 the sublect orooertv lor the three vears orlor to the effective date 01 tIU aooralsal. Dela Source/s TAX RECORDS resea~ XI did n did not reveal any orlor sales or translers ollhe cOlTllarable sales lor the vear orlor to the date 01 sale 01 the comoarable sale, Data Source/s TAX RECORDS RlIIOrl the results 01 the resell'Ch and analvsls 01 the orIor sale or transler hlstorv 01 the sublect orooertv and c omoarable sales /rllllort additional orl or sales on oaoe 31. ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 ClJ.lPARABLE SALE #3 Dale 01 PrIor SaJe{I'ransler 712008 7/08 NONE NOTED NONE NOTED Prtce 01 Prior SalelTransler $480 000 1$0480000 Dela Source/s) FARES FARES FARES FARES EIIectIve Date 01 Data Source(s) 5/2009 512009 512009 5/2009 Ana1vsIs 01 DIIor sale or transfer hlstc rv 01 the slJ:Jlect DrDolrlv and cornnalllble sales THE PRIOR SALE OF THE SUBJECT WAS PART OF A LAND PURCHASE OF EIGHT HOME SITES. SALE #1 WAS ALSO PART OF THIS BULK PURCHASE, SuIl1lllllV 01 Sales COITIlarlson Aooroach MOST WEIGHT IS PLACED ON COMPARABLE #1 AS IT IS A RECENT SALE OF A HOME SIMILAR IN UPGRADES AND BEDROOMlBATHRooM COUNT. SALE #2 IS A RECENT SALE OF A HOME INFERIOR IN VIEW. SALE #3 IS SUPERIOR IN LMNG AREA. HOWEVER INFERIOR IN AGE/CONDITION. SALE #3 WAS AN OLDER HOME THAT HAD BEEN RENOVATED, SALE #3 HAS A HIGH GROSS ADJUSTMENT DUE TO ITS INFERIOR AGE/CONDmON AND SUPERIOR SIZE HOWEVER IS UTILIZED AS IT IS A RECENT SALE CLOSE IN PROXIMITY TO THE SUBJECT HOME, THESE ARE THE BEST AND MOST RECENT SALES THAT THE MARKET HAS TO OFFER. SALE #1 IS THE SAME MODEL AS THE SUBJECT HOWEVER THE FOURTH BEDROOM IS UTILIZED AS A DENIFAMIL VROOM AREA. IndIcalBd Value bv Sales CmnoarIson Aoornach $ 223 000 Indlcllld Value by: Salas . 223 000 Colt AaDroach (If dMI_). 286 250 Income ADDroach (H dMloDed). MOST WEIGHT IS GIVEN TO THE MARKET DATA APPROACH WHICH BEST DEPICTS THE ACTIONS OF BUYERS AND SELLERS IN THE MARKETPLACE, THE COST APPROACH IS SUPPORTIVE. THE INCOME APPROACH WI>S NOT USED DUE TO A LACK OF RELIABLE RENTAL DATA TO ESTABLISH AN ACCURATE G.RM. ThIs appraisal Is made 0 'as Is', IlS:! subject to COf11JIelfon per plans and specifications on the basis 01 a hypothetical condition that the ImpllMJl'l1tlnls have been completed, 0 subject to the lolowlng repairs or aleraUO~~~ basis of a hYPoth~=~on that 1~a1rs or a1teraUons have been completed, or 0 subject to the Iolowina nKIured Insoectlon based on the IlIdraordlnarv assu n that the condition or dell does not re altera1lon or reoalr. SEE ATTACHED L1MmNG CONDmONS AND THE ADDENDUM. laud on a compIItl vttual ~ of the InIwIor and m.Ior 811II of thl aubject ~ dalInad 8COJI8 of ~ lIaIInIant of aaaumptlons and limiting condllfona, and appralnr's CI on, my (our) opinion of thl markat value, ,::.::*' of real propaity that Is ;;;-~ of this report Is . 223 000 . as of MAY 7 2009 . wticIt la thl date of Ins and the aIIctIva data of thl.. . Freddie Mac Fonn 70 March 2005 Page 2of6 Fannie Mae Fonn 1004 March 2005 Form 1004 - "W1nTOTAL" appraisal software by a la mode, Inc, -l-800-ALAMODE IFile No, 095-12347481 Paae #5 Uniform Residential Appraisal Report 09-1209 FUe# 095-1234748 ----~._-~_._--------~--~~ ~ _dm_ -- 1.. ~~--_.~------_._----~. ..----. 1 .---- .~---_..- -- .._-----~--_._------_._--- ..--- ..---~ .._--~-- ------- COST APPI\OACIl TO VALUE InGt _,,11II bv FaMIt Mae) Provide adeauate Inlormatlan lor 1he lender/client to reoIlcate 1I1e below cost figures and calculations, Support lor the ool1l1on 01 sKe value lsummarv of comaarable land sales or other methods lor estlmatlna sKe value) DUE TO A LACK OF VACANT LAND SALES THE SUBJECTS LAND VALUE WI'S DERIVED VIA MARKET ABSTRACTION, ESTIMATED M REPRODUCTION OR f1 REPLACEMENT COST NEW Source of cost data BUILDERlMARSHALL & SWIFT Qualllv ratino from cost service A VG Effective date of cost data 5/2009 . Comments on Cost APproach (gross llvina area calc~atlans, dl!l'lreclatlon, etc.l SEE ATTACHED SKETCH FOR AREA CALCULATIONS, LAND TO VALUE RATIO IS TYPICAL FOR THE AREA AND DOES NOT HAVE AN ADVERSE AFFECT, DUE TO THE LACK OF VACANT LAND SALES IN THE SUBJECTS MARKET AREA LAND VALUE HI'S BEEN DETERMINED THROUGH MARKET ABSTRACTION, COST FIGURES WERE EsUmated ReBlne Economic Ltte /HUD and VA oniVl IOPINION OF SITE VALUE. n ............ .... IOWELLING 1 326 So.Ft. @ $ I N/A So.Ft,@$ APPLIANCES AND EXTRAS CV Garaae,ICJItllDrt 220 Sa ,Ft. @ $ Total Estimate of Cost-New Less Phvslcal I Functional I ElIlemal Deolaclation I I Deoreclated Cost of lmaravements "As-Is" Value of Site Imcrovements . .... .m..... ...... =$ 125,OO..n . .. -$ ..... -$ .... =$ 25,00 ..... . .. =$ ........ =$ 75000 165750 5000 5500 176 250 =$( ... . =$ ..... =$ -- 60 Yws 1NIlICA1ED VALUE BY COST APPROACH .....,.. lNCOIItAJillROACHtOVAtU .~WFm...Mitl Estimated MonthIv Market Rent $ N/A X Gross Rent MuIlIoller N/A = $ Summarv of Income APoroach OnckJdlno SUDDort lor market rent and GRM) .... ,..,....-$ 176 250 1~ 266 250 Indicated Value bVIncome Approach PROJECT lNFOAMATIClN FOR ...........) Is the develoaer/bullder In control af the Homeowners' AssaclaUon IH0A1? f1 Yes r 1 No unit nlnels\ DetaChed 11 Attached Provide 1I1e lollawlna Inlormatlon lar PUOs ONLY" the develonerlbullder Is In control 01 the HOA and 1I1e SUbject prooertv Is an attached dweHlna unK, Legal Name 01 Proiect Total raJmber 01 chases Totallllmber of units TotaIlllmber of units sold Total number 01 unls rented Total number 01 unls lor sale Data sourcels\ Was the proiect created by 1he conversion of ellls1lno bulldlno(s\ ~to a PUD? rl Yes r1 No "Yes, date 01 conversion, Does the oralect contain IIlV roolll-dwellna unKs? fl Yes 0 No Data Source Are 1I1e units, comll1lln elements, and recreation facilities comclete? n Yes 11 No tt No. desc~be 1I1e status of cOTTIIletlon, -- Are the comll1lln elements ieased to or bv 1I1e Homeowners' Association? 0 Yes n No tt Yes describe the rental terms and ootions, Describe common elements and recreational facllllles, Freddie Mac Form 70 March 2005 Page 3 01 6 Fannie Mae Form 1004 March 2005 Form 1004 - "WlnTOTAl." appraisal software by a la mode, Inc, -1-800-ALAMODE IFile No 095.12347481 Paoe #81 Uniform Residential A 09.1209 FUel 095-1234748 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or Its successors and assigns; mortgage Insurers; govemment sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or Instrumentality of the United States; and any state, the District of Columbia, or other Jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (If applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media), 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me, 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage Insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that Involves anyone or more of these parties, 24, If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined In applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as If a paper version of this appraisal report were delivered containing my original hand written signature, 25. Any Intentional or negligent mlsrepresentatlon(s) contained In this appraisal report may result In civil liability and/or criminal penalties Including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws, SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1, I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2, I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3, The appraiser Identified In this appraisal report Is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), Is qualified to perform this appraisal, and Is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were In place at the time this appraisal report was prepared. 5, If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as If a paper version of this appraisal report were delivered containing my original hand written signature. SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name M, S Company Name RIE ANALYSTS-RESIDE LLC, Company Address 1881 N.E. 26TH STREET #237 Signature Name Company Name Company Address Telephone Number (9541760-7990 Emall Address MSDOOLEYalREANALYSTS.COM Date of Signature and Report June 29. 2009 Effective Date of Appraisal MAY 7. 2009 State Certification # RD 0002464 or State License # or Other (describe) State # State FL Expiration Date of Certification or License 1113012010 Telephone Number Emall Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License ADDRESS OF PROPERTY APPRAISED 222 N,W, 7TH AVENUE BOYNTON BEACH. FL 33435 APPRAISED VALUE OF SUBJECT PROPERlY $ 223,000 LENDER/CLIENT Name Company Name SEASIDE NATIONAL BANK & TRUST Company Address 201 S. ORANGE AVENUE #1350, ORLANDO, FL 32801 Emall Address SUBJECT PROPERTY o Old not inspect subject property o Old Inspect exterior of subject property from street Date of Inspection o Old Inspect Interior and exterior of subject property Date of Inspection COMPARABLE SALES o Old not Inspect exterior of comparable sales from street o Old Inspect exterior of comparable sales from street Date of Inspection Freddie Mac Fonn 70 March 2005 Page 6 of 6 Fannie Mae Fonn 1004 March 2005 Form 1004 - 'W1nTOTAL' appraisal software by a la mode, Inc, -l.80D-ALAMOOE 1FiJeNo:"09S-12347481 Paae #91 FEATURE I SUBJECT COMPARABLE SALE # 4 1 COMPARABLE SALE # 5 COMPARABLE SALE #6 Address 222 N,W, 7TH AVENUE 717 N,W, 2ND STREET 1713 NW, 2ND STREET 405 SW, 1ST AVENUE. BOYNTON BEACH FL 33435 BOYNTON BEACH FL 1 BOYNTON BEACH, FL BOYNTON BEACH FL Praximitv to Subiect 0,06 miles SW 10,06 miles SVI' 0,50 miles S Sale Pnce $ 223 000 $ 235,000! it;: 223,000 $ 185 000 " Sale Price/Gross Liv, Area $ 168, 17siJ,ft, $ 146,05 so,ft, S 168,17 sO.It, $ 143,52 siJ,lt, Data Saurcels" ISC/MLS/SELLER ISC/MLS/SELLi::F ~--- ISC/MLS/AGENT -- Verification Sourcels) ZMJ INVESTMENTS SELLER SHARON ARNETT VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +H $ Adjustment DESCRIPTIOI, j +I-I-S Adjustment DESCRIPTION + H $ Adjustment Sales or Rnanc!n, PENDING i ACTIVE LIS'" FHA Concessions CRA SUBSIDY CONCESSIN -9600 Date of Sale/Time PENDING 'ACTIVE LIST. 5/09-CLOSED ---~--- Location BOYNTON BC BOYNTON BC ,BOYNTON Be BOYNTON BC Leasehold/Fee Simnle Fee Simnle FEE !FEE FEE Sitt 5227 Sn,Ft.* 5 227 SF I 5,227 SF '. 5450SFl V1e\\ RESIDENTIAL RESIDENTIAL RESIDENTIAL -- RESIDENTIAL ----~- Desion IStvle) RANCH RANCH RANCH RANCH . Qualitv of Construction AVG/GOOD AVG/GOOD AVG/GOOD AVGlGOOD : Actual Age 2009 EFF-Ol 2008 EFF-Ol 2009 EFF-o) 1940 EFF-15l ~ . Condition NEW/GOODl NEW/GOODl NEW/GOODl GOODl ~ ---"'-~ . Above Grade Total I Bdrms, I Baths Total I Bdrms, 1 Baths Tnl~ 1 Bdrms, I Baths - Total I Bdrms, I Baths -- Room Count 7 I 4 I 2 7 I 3 12,5 -2500 7 I 3 I 2 6 I 3 I 2 --- Gross Livino Area 1 326 sq,ft, 1 609 sq,ft, -14,150 1 326 so,ft, --. 0 1 289 so,ft, -.- Basement & Finished N/A NO BASEMENT NO BASEMENT NO BASEMENT Rooms Below Grade Functional UtIl1tv ADEQUATE ADEQUATE ADEQUATE ADEQUATE Heatino/Coollna CENTRAL CENTRAL CENTRAl CENTRAL ------ Enerov Efficient ttems TYPICAL TYPICAL TYPICAL TYPICAL Garaoe/Caroort 1-GARAGE 1-GARAGE 1-GARAGE 1-GARAGE PorchlPatio/Deck ENTRY PORCH ENTRY PORCH ENTRY PORCH ENTRY PORCH EXTRAS & UPG GO, EXTRAS GO, EXTRAS GD,EXTRAS ------'- GD,EXTRAS ---,_.~-- POOUPA TlO PATIO PATIO PATIO PATIO -- DAYS ON MARKET 120 DAYS 120 DAYS 112 DAYS Net Adiustment !Total) D:L!:EL-c-c L_ -16650 0+ 0, t _ -~~--- _J8L-I: _ il.:.... $ ~~!19.Q Adjusted Sale Price Net Adi, 7,1 % Net Adj, % Net Adj, 18,6 % of Comnarables Gross Adj, 7,1 %$ 218350 Gross Adi. % $ 223 000 Gross Adi. 18,7 % $ 219 500 Ranort the results of the research and analvsls of the rlor sale or transfer hlstorv of the sublect I rooertv and comDarable sales lreoort addttional Drlor sales orl"an-e ai, ITEM SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE # 5 COMPARABLE SALE # 6 Date of Prior Sale/Transfer 7/2008 712008 712008 NONE NOTED Price of Prior Sale/Transfer t.480 000 1&480 000 1&480 000 ~ Data Sourcels) FARES FARES FARES FARES Effective Date of Data Source/sl 5/2009 5/2009 5/2009 6/2009 AnalySis of Drlor sale or transfer hlstorv of the subiect oronMV and coll1la rable sales COMPARABLE #5 AND COMPARABLE #6 ARE PENDING SALES OF HOMES DEVELOPED BY THE SAME DEVELOPER OF THE SUBJECT HOME, THESE SALES ARE GOOD INDICATORS OF VALUE, - ---~ -------- --------.---- ------------ - - -- - --- AnalySIs/Comments SALE #4 IS A PENDING SALE OF A HOME SIMILAR IN LOCATION HOWEVER SUPERIOR IN SIZE, COMPARABLE #5 IS AN ACTIVE LISTING CLOSE IN PROXMITY TO THE SUBJECT, ------- PER THE CLIENT'S REQUEST THE APPRAISER HAS INCLUDED A COUPLE OF VERY RECENT SALES FROM THE SUBJECT'S IMMEDIATE MARKET AREA, SALE #6 IS A VERY RECENT SALE OF A RENOVATED HOME WITH METAL ROOF AND GRANITE COUNTERS. THIS HOME IS SIMILAR IN INTERIOR UPGRADES HOWI:;YER LACKS THE IMPACT WINDOWS OF THE SUBJECT HOME, THIS HOME WAS BUILTIN 1940 AND HAS AN ADDmON OF A MASTER BEDROOM, THIS HOME IS VERY SIMILAR TO THE SUBJECT EXCEPT THAT IT IS NOT A BRAND NEW HOME, THUS THIS HOME HAS AN EFFECTIVE AGE OF FIFTEEN YEARS, THIS SALE IS AN EXCELLENT INDICATOR OF VALUE, THIS SALE CLOSED AFTER THE EFFECTIVE DATE OF THIS APPRAISAL. . --""- ~~~~---~._~- - ~.._----~~- -- _..._---~._,-~,-~ ~ - ------ -~-_., ---- ~ ------...---.-. - -" --.---.--- .----. ------. ~ --------~~ -- -- -------- ------ -- ---- - -~------ Uniform Residential Appraisal Report 09-1209 FUel 095-1234748 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Form 1004,(AC) - 'WinTOTAL' appraisal software by a la made, inc, - 1-800-ALAMODE IRle No, 095-12347481 Paoe #101 m arm as ant a ppralsa aport FIIe# 095-1234748 FEATURE I SUBJECT COMPARABLE SALE # 7 COMPARABLE SALE # 8 COMPARABLE SALE #9 Address 222 NW, 7TH AVENUE 716 S.W. 1ST AVENUE. 1 BOYNTON BEACH FL 33435 BOYNTON BEACH FL Proximltv to Subiect 0,87 mes SW Sale Price $ 223 000 $ 184000 IS $ Sale Price/Gross L1v, Area $ 168,17 so,ft, $ 138.24 so,ft,l $ so,ft, 1 $ sa.ft, Data SOUlcelsi ISCIMlSlAGENT VerI1icatlon Source(s) SHARON ARNETT VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION + (.1 $ Adlustment DESCRIPTION -i-I-l $ Adjustment DESCRIPTION +1-) $ Adjustment Sales or Rnancin, FHA I Concessions CONCESSIN -8500 Date of SalefTime 6I09-CLOSED Location BOYNTON BC BOYNTON BC LeaseholdlFee Sirnole Fee SimDIe FEE Site 5227 Sa.Ft.. 7841 SF \ : View RESIDENTIAL RESIDENTIAL Deslon (SMe) RANCH RANCH Qualty of Construction AVGIGOOD AVG/GOOD . Actual Age 2009 EFF.()l 1994 EFF-15l Condftlon NEW/GOODl GOOD\ +44 100 Above Grade TolaIlBdnns.l BathS TrQllSdnns.lBaths TotaIIBdrms,ISalt1s Total Sdrms,lSaths Room Count 7 I 4 I 2 6 I 3 I 2 I I I Gross Llvlno Area 1 326 sO.ft. 1 331 so,ft, so,ft, so,ft, Basement & Rnished N/A NO BASEMENT Rooms Below Grade functional utlltv ADEQUATE ADEQUATE Heatlna/Coolna CENTRAL CENTRAL ~EIllcllll1lftemS TYPICAL TYPICAL B/C8Itlort l-GARAGE 2-GARAGE -10000 ParcM'atlO/08ck ENTRY PORCH ENTRY PORCH EXTRAS & UPG GO. EXTRAS AVG,EXTRAS +5 000 POOLlPA TIO PATIO SCR. PATIO -1000 DAYS ON MARKET 62 DAYS Net Adluslmlll1l (fatal) ~+ n- $ 29600 0+ 0- $ 0+ 0- $ Adjusted Sale Price Net Adj, 16.1 % NetAdj, % Net Adj. % of Corno.ables Gross Ad!. 8,1 % $ 213600 Gross Adl. %$ Gross Adi, % $ Rlllort the reslJ1s of 1I1e research and analvsls of 1he rior sale or transfer hlstorv of 1I1e subillct roDertv and comDarable sales Treilort additlanafnltor sales on DalIe 31. ITEM SUBJECT COMPARABLE SALE # 7 COMPARABLE SALE # 8 COMPARABLE SALE # 9 Date of PrIor SalB/Transfer 7/2008 NONE NOTED Price af PrIor Sale/Transfll' U80 000 Data SatrCll(s) FARES FARES Effective Date of Data Source/s} 512009 6/2009 Analysis of prior sale or transfer hlstorv af 1I1e subject oroam and comoarable sales NONE NOTED IN THE PAST YEAR, Analysis/Goll1l1'l8ll\S SALE #7 IS LOCATED WEST OF 1.95 HOWEVER IS UTILIZED AS IT IS A RECENT SALE, THIS SALE CLOSED SINCE THE EFFECTIVE DATE OF THE APPRAISAL, SALE #7 IS SIMILAR IN SIZE HOWEVER INFERIOR IN AGE, THIS SALE HAS AN ORIGINAL ASPHALT SHINGLE ROOF. ALSO THIS HOME IS INFERIOR IN UPGRADES LACKING GRANITE COUNTERS UPGRADED FLOORING METAL ROOF AND IMPACT WINDOWS. THIS SALE IS A GOOD SUPPORTING INDICATOR OF VALUE. . U 'f R id IIA IR 09.1209 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Form 1004,(AC) - 'WlnTOTAL' appraisal software by a Ia mode, Inc, -1-800-ALAMOOE rFiieNiJ.095l2W4s1 Paoe if1 09120' Market Conditions Addendum to the ADDraisal Report FOe No. 095-1 23474<: The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the suhle:' i I nelohborhood, This Is a reouired addendum for all aooralsal reports with an effective date on or after April 1 ,2009, I -1 Prooertv Address 222 NW, 7TH AVENUE City BOYNTON BEACH State FL ZIP Code 33435 i Borrower """ j NORFUS & RAMSAy InIInIcllonr. The appraiser must use the Information required on this form as the basis for his!her conclusions, and must provide support for those conclUSions, regardin, , housing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form, The appraiser must fill in all the information to the eXlen: ! it Is available and reliable and must provide analysis as indicated helow, " any required data Is unavailable or Is considered unreiable, the appraiser must orovioe ar expianation, it is recognized that not all data sources will he able to provide data for the shaded areas below; If it Is available, however, tire appraiser must include the date : In the analysis, "data sources provide the required information as an average instead of the median, the appraiser should report the available figure and Identify it as ar I average, Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective ouyer of tn, subiect orooertv, The aooralser must ellDlaln any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc, all Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overall Trene I Total" of Comoarable Sales (Settled' 6 4 7 Increaslno Stable :.>9 Declining i Abmtlon Rate lTataI Sales/Months' I 1"0 1,3 2,3 Increaslno X Stable 1 Declining I Total " of Comparable Active Ustinos . . 45 Decllnlno Stable D Increasing I MOlths of Houslna Suoolv 1T0tal Ustlnns/Ab,Ratet . . 19,6 DeCllnloo Stable D Increasing I IIIdIIn _. LIII Pilei, DON. SllIlLlst % Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overall TrenG ! Median Comoarable Sale Price 107 000 63 000 58 000 Increasino Stable b<, Declinino Median Comoarable Sales Dava on Market 73 57 19 Decllnino Stable I IncreaslnQ Median COllllarable Ust Price . , 130 000 Increaslno Stable D DecllnlnQ Median Como arable Ustinos Davs on Market , , 100 Decllnino Stable Increasing Median Sale Price as % of List Price 32 79 93 Increaslno Stable IIXI Declining Seller.(develooer, builder, Illc,loald financial assistanceDrevalent? [)(I Yes r l No Decllnlno Xl Stable Increasing Explain In detail the seller concessions trends for the past 12 months (e,g" seller contributions increased from 3% to 5%, Increasing use of buydowns, closing costs, condo fees, options, etc,), 'THESE FIELDS CAN NOT BE COMPLETED AS MLS is A REALTIME. pATA BASE, THE SUBJEG[MARKET IS IN _ _ DECLINE. AS IS EVIDENCED BY GREATER SUPPLY THAN DEMAND "- -~,----_.. - .~-~--~-------_.. "----~ Are foreclosure sales (REO sales) a factor in the marklll? [XI Yes rl No II yes, exolaln nncludlna the trends In IIstinos and sales of foreclosed orooertles), THE SUBJE.Cl'S MARKET HAS SOME FORECLOSURE AND SHORT SALES, FORECLOSURES AND SHORT SALES ARE STILL A PART OF THIS MARKET. " """ Cne data sources for above Information, THE APPRAISER HAS UTILIZED MLS AND THE TAX RECORDS, -----.._--~~-- -~ Summarize the aboye Information as support for your conclusions in the Neighborl1ood section of the appraisal report form, II you used any additional Information, such as an analvsls of oendlno sales and/or emlred and withdrawn IIstinas, to formulate your conclusions, provide both an exolanation and SUDDOrt for vour conclusions, THE SUBJECl'S MARKET IS CURRENTLY IN DECLINE AS THIS MARKET HAS A HIGH NUMBER OF FORECLOSURE AND SHORT SALES, THE SUPPLY IS STILL EXCEEDING DEMAND WHICH CONTINUES TO DRIVE THE MARKET DOWNWARD, ~-----""" "~ "--- U the IUlIIIcIII llIIIIt In I condomInlIIn or l:iiiiiiIiii IvIIIIIIlIecI . CCIlIlIIlele the falIowlna: ProIecl Name: Subi8ct PmIect Data Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overal Trend Total" of ComDll'llble Sales (SeIlEd) . Increasln S1able DecHnlng Absomtlon Rate /Total SaleslMonthsl Increasln Stable Decinlng Total" of Active Comoarable Ustinos Decllnlna Stable Increasing Months of Unft SuPDIv lTotaI Ustlnos/Ab,Ratel Dectlnlna SlabIe Increaslnc Are foreclosure sales (REO sales) a factor In the project? DYes DNa II yes, Indicate the number of REO Rstlngs and explain tire trends In Rstlngs and sales of foreclosed orooerties, ~ ------.-.- ~ "~ . . . . Summarize the above trends and address the Imoact on tire subiect unit and Droiect, " "" ...--. .---::;;. ~ .,..~~ /' ~ Slonature /' ,. - Slcnature -- Acoraiser Name , Doolev - .;' SuPervlsorv AnDralser Name ComDanv Name R/E ANAL YSTS-RESIDEN'JiIl([ LLC, Comoanv Name -"-- Comoanv Address 1881 N.E, 26TH STREET#237J[ Comoanv Address 0--': State License/Certification" RD 0002464 State FL State License/Certification" State ""-"~ Emall Address MSDOOLEY@REANALYSTS,COM Emall Address Freddie Mac Form 71 March 2009 Page1of1 Fannie Mae Form 1004MC March 2009 Form 1oo4MC2 - 'WlnTOTAL" appraisal software by a la mode, inc, -1-80D-ALAMODE IRle No, 095-12347481 Paoe #121 MULTI-PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY REUTED TRANSACTIONS Borrower/Clen! NORFUS & RAMSAY Prooertv Address 222 NW, 7TH AVENUE Ciiv BOYNTON BEACH COllnlv PALM BEACH State FL ZiD Code 33435 Lender SEASIDE NATIONAL BANK & TRUST R,E, Analysts - REslden1lal, LLC, This Multi-Purpose Supplemental Addendum for FBllera11y Related Transactions was designed to provide the appraiser with a convenient way to comply with the curren: appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the OffIce of the Comptroler of Currency (DCC), The Office of Thrtt SUpervision (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve, Thll Mllltl-Purpose Supplement.1 Addendum '1 far IIle with .n, appr.I..I. Onl, those statements which have been checked b, tha ap....I..r .ppl, te the prepartJ being appral..cl. ~ PURPOSE a. FUNCTION OF APPRAISAL The purpose of the appraisal is to estimate the malket value of the subject property as defined herein, The function of the appraisal is to assist the above-named Lender In evaluating the subject property for lending purposes, This Is a federaly related transaction, ~ EXTENT OF APPRAISAL PROCESS ~ The appraisal is based on the Information gathered by the appraiser from public records, other Identified sources, Inspection of the subject property and neighborhood, and selection of comparable sales wRhln the subject malke! area, The original source of the cOl11larables Is shown In the Data Source section of the me! grid along with lI1e source of conflrmation, If available, The original source Is presented first, The sources and data are considered reDable, When conftlctlng Information was provided, lI1e source deemed most reliable has been used, Data beleved to be unrelable was not Included in the report nor used as a basis for the value conclusion, ~ The Reproduction Cost Is based on MARSHALL AND SWIFT, LOCAL AREA BUILDERS AND APPRAISER'S FILES, supplemented by the appraiser's knowledge of the local malket, ~ Physical depreciation Is based on lI1e estimated effective age of the SUbject property, functional and/or external depreciation, If present, Is specifically addressed In the appraisal report or other addenda, In estimating the sRe value, the appraiser has relied on pellional knowledge of the local malkel. This knowledge Is based on prior and/or current analysis of sRe sales and/or abstraction of sRe values from sales of Improved properties, ~ The subject property Is located in an area of primarily owner-occupied single family residences and the Income Approach Is not considered to be meaningful. For ttis reason, the Income Approach was not used, o The Estimated Market Rent and Gross Rent Multiplier utilized In the income Approach are based on the appraiser's knowledge of the subject market area, The rental knowledge Is based on prior and/or current rental rate surveys of residential properties, The Gross Rent Mulllpler Is based on prior and/or current analysiS of prices and mar1<et rates for residential properties, o For Income produdng properties, actual rents, vacandes and expenses have been reported and analyzed, They have been used to project Mure rents, vacandes and expenses, ~ SUBJECT PROPERTY OFFERING INFORMATION According to MLS lI1e subject property: o has not been offered for sale In the past: 0 30 days 0 1 year 0 3 years, ~ Is currertly offered for sale for $ 223.000 o was..olIUI for sale wlthln the past: 0 30 days 0 1 year 0 3 years for $ o Offering Information was considered In lI1e final reconciliation of value, o Offering Information was not considered In lI1e final reconciliation of value, o Offering Information was not avallable The reasons for unavallablllty and the steps taken by lI1e appraiser are explalned later In this addendum, ~ SALES HISTORY OF SUBJECT PROPERTY According to TAX RECORDS OF PALM BEACH COUNTY FLORIDA, the subject property: o Has not transferred o In the past twelve months, 0 In the past thirty-six months, o In the past 5 yean;, ~ Has transferred o In lI1e past twelve months, IZIln the past thirty-six months, o In the past 5 years, ~ AI prior sales which have occurred In the past 3 years are Hsted below and reconciled to the appraised value, either In the body of the report or In the addenda, Dat. s.... Prlc. lleculllllllt II .....r lIU_r 712008 480 000 BOYNTONASSOC~TES ZMJ INVESTMENTS LLC, ~ FEMA FLOOD HAZARD DATA ~ SUbject property ~ In a FEMA Special Flood Hazard Area, o SUbject property Ii.lDcatm! In a FEMA Special Flood Hazard Area, r zen. .IIIA ...._ II .... DatIl ..m. .f c._nlly I B t201960004C 9/30/1982 o The cOll1llunlty does not participate In the National Flood Insurance Program, o The cOll1llunlty does partlcloale In the National Flood Insurance Program, ORis covered by a mguIar program, o It Is covered by an lIlDfl[gIl]Cy: program, Page 1 of 2 Form MPA3 - 'W1nTOTAL' appraisal software by a Ia mode,lnc, -1-BO()'ALAMDDE ~12347481 Paoe#12 :2<:l CURRENT SALES CONTRACT ~ The subject property Is currently not under contrac", n The contract and/or escrow Instructions wml1ll1il'ia~iQuel'lew Tne unavailability of the contract is explained later in the addenda section, ~ The contract and/or escrow Instructions wm.r.BYiewell Tne following summanzes the confract Contract Dabl Amandmant Date Contract Price Seller 3/25/2009 223,000 ZMJ INVESTMENTS LLC, ~ The contract indicated that personal property was not included tn tile sal, o The contract Indicated that personal property ~Ul1ed tt consisted 0 o o o ~ o Estimated contributory vaiue Is $ Per.;onal property was not Included In the IInal value estimat' Per.;onal property lVii..IncIullcd In the final value estimatE The contract Indicated no financing concessions or other Incentive, The contract indicated tile followlnQ concessions or Incentives THE BOYNTON BEACH CRA IS GRANTING A SUBSIDY OF $112,000 TOWARDS THE PURCHASE OF THE SUBJECT HOME, If concessions or Incentives eldst, the comparables were checked for similar concessions and approp~ate adjustments were made, If applicable, so that the final value conclusion Is in compliance with the Market Value defined herein, ~ MARKET OVERVIEW Include an explanation of current rnartm conditions and trends. 3-6 months Is considered a reasonable marketing pe~od for the subject property based on MULTIPLE LISTING SERVICE AND APPRAISER'S FILES, ~ ADDInONAL CERTIFICATION The Appraiser certifies and agrees that: (1 j The analyses, opinions and conclusions were developed, and this report was prepared, in conformtty with the Uniform Standards of Professional Appraisal Practice ('USPAP"j, exceptthatlhe Departure Provision of the USPAP does not apply, (2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event, (3) This appraisal assignment was not based on a requested minimum valuation, a speclllc valuation, or the approval of a loan, ~ ADDInONAL (ENVIRONMENTAL) UMITIIIII COIIIDInONS The value estimated Is based on the assumption that the property is not negatively affected by the existence of hazardous substances or det~mental environmental condttions wiess otherwise stated In this report, The appraiser is not an expert In the Identification of hazardous substances or det~mental environmental condnlons, The appraiser's routine Inspection of and InQulrles"about the subject property did not develop any information that indicated any apparent significant hazardous substances or detl1mental environmental conditions which would affect the property negatively unless otherwise stated In this report, It Is possible that tests and Inspections made by a Qualified hazardous substance and environmental expert would reveal the eldstence of hazardous substances or det~mental environmental conditions on or around the property that would negatively affect Its value, o ADDITIONAL COMMENTS ~ Date Prepared June 29, 2009 " 1't10ne # (954 ) 760-7990 Tax 10 # 65-0001364 o CO-8IININI APPRAISER'S CERTIFICATION [J The co-signing appraiser has oersonallv Insoected the subject property, both Inside ami out and has made an exte~or inspection of all comparable sales listed in the report, The report was prepared by the appraiser under direct supervision of the co-signing appraiser, The co-signing appraiser accepts responsibility for the contents of the report including the value conclusions and the limning condnions, and confirms that the certifications apply fully to the co-signing appraiser, ~ The co-signing appraiser has not oersonallv Inspected the Interior of the subject property and: o has not Inspected the exte~or of the subject property and all co~arable sales listed in the report, o has Inspected the exterior of the subject property and all comparable sales listed In the report, o The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the contents of the report, InclJdlng the value conclusions and the Iimtting conditions, and confirms that the certifications apply fully to the co-signing appraiser wtth the exception of the certnlcation regarding physical Inspections, The above desc~bes the level of Inspection performed by the co-signing appraiser. Cl The co-signing appraiser's level of Inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda section of this appraisal, o CO-SI8NINI APPRAISER'S 818I11ATURE ,. L1CIfllElCERTIFICATlON Co-SIQnlng Appraiser's Signature Co-Signing Appraiser's Name (p~ntj Slale 0 license Effective Date Date Prepared o Certification # Phone # Tax 10 # Page 2 of 2 Form MPA3 - "WinTDTAL" appraisal software by a la mode, Inc -l-BOQ-ALAMODE IFile No 095-12347481 Paoe #141 Subject Photo PagE ("-L Borrower/Clent NORFUS & RAMSAY Prooertv Address 222 NW. 7TH AVENUE cnv BOYNTON BEACH Countv PALM BEACH State FL Zio Code 33435 Lender SEASIDE NATIONAL BANK & TRUST SubJect Front 222 NW. 7TH AVENUE Sales Price 223,000 Gross Living Area 1,326 Total Rooms 7 Total Bedrooms 4 Total Bathrooms 2 Location BOYNTON BC View RESIDENTIAL Site 5,227 Sq.Ft.* Quality AVG/GOOD Age 2009 EFF-O) ( ~ SubJect Rear :; ...~~" ."' .. '. .,.. r:~~- .:,.~.~.. "'.,'"' oli... < ..... SubJect Street (~ Form PICPDCSR - 'W1nTOTAL' appraisal software by a fa mode, Inc. -1-800-ALAMODE Comparable Photo PagE IRle No. 095-12347481 Paoe #151 Borrower/Cient NORFUS & RAMSAY Pronertv Address 222 NW. 7TH AVENUE Cltv BOYNTON BEACH Countv PALM BEACH State FL Zin Code 33435 Lender SEASIDE NATIONAL BANK & TRUST Comparable 1 709 NW. 2ND STREET Prox. to Subject 0.06 miles SW Sale Price 223.000 Gross Living Area 1,326 Total Rooms Total Bedrooms T etal Bathrooms Location View Site Quality Age ~ 2 BOYNTON BC RESIDENTIAL 4,791 SF } AVG/GOOD 2008 EFF-O} Comparable 2 603 N. SEACREST BLVD. Prox. to Subject 0.18 miles SE Sale Price 208,831 Gross Living Area 1,308 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 2 Location BOYNTON BC View BUSY STREET Site 5,663 SF } Quality AVG/GOOD Age 2008 EFF-O} Comparable 3 220 SW. 1ST AVENUE. prox. to Subject 0.48 miles S Sale Price 199,900 Gross Living Area 1,871 T etal Rooms 6 Total Bedrooms 3 Total Bathrooms 2.5 Location BOYNTON BC View RESIDENTIAL Site 6,500 SF } Quality AVG/GOOD Age 1935 EFF-15} Form PICPIX.CR - 'WinTOTAL' appraisal software by a fa mode, Inc. -1.80ll-ALAMODE Comparable Photo pallE IFile No. 095-12347481 Paoe #161 Borrower/Cient NORFUS & RAMSAY Prooertv Address 222 NW. 7TH AVENUE CItv BOYNTON BEACH County PALM BEACH State F L Zio Code 33435 Lenoer SEASIDE NATIONAL BANK & TRUST ( .. ( .. ~t'~~~~1iI!'","1.:t""__ . (.. Comparable 4 717 NW. 2ND STREET Prox. to Subject 0.06 miles SW Sales Price 235,000 Gross Living Area 1,609 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2.5 Location BOYNTON BC View RESIDENTIAL Site 5,227 SF ) Quality AVG/GOOD Age 2008 EFF-o} Comparable 5 713 NW. 2ND STREET Prox. to Subject 0.06 miles SW Sales Price 223,000 Gross Living Area 1,326 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2 Location BOYNTON BC View RESIDENTIAL Site 5,227 SF } Quality AVG/GOOD Age 2009 EFF-O} Comparable 6 405 SW. 1ST AVENUE. prox. to Subject 0.50 miles S Sales Price 185,000 Gross Living Area 1,289 Total Rooms 6 Total Bedrooms 3 T etal Bathrooms 2 Location BOYNTON BC View RESIDENTIAL Site 5,450 SF } Quality AVG/GOOD Age 1940 EFF-15} Form PfCPIX.CR - 'WInToTAL' appraisal software by a la mode, Inc. -l.80ll-ALAMoDE , - Comparable Photo Page IFile No. 095-12347481 Paoe #171 Borrower/Client NORFUS & RAMSAY Pronortv Address 222 NW. 7TH AVENUE CItv BOYNTON BEACH Countv PALM BEACH State FL Zin Code 33435 Lender SEASIDE NATIONAL BANK & TRUST Comparable i 716 SW. 1ST AVENUE. Prox. to SUbject 0.87 miles SV\ Sales Price 184,000 Gross Living Area 1,331 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 2 Location BOYNTON Be View RESIDENTIAL Site 7,841 SF } Quality AVG/GOOD Age 1994 EFF-15} Comparable 8 Prox. to SUbject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Comparable 9 ProX. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View She Quality Age Form PICPIX.CR - 'W1nTOTAL' appraisal software by a la mode, Inc. -l.aoD-ALAMooE IFileNo, 095-12347481 Paae #18i Building Sketch BorrowerlClent NORFUS & RAMSAY ProptJ1y Address 222 N.W, 7TH AVENUE City BOYNTON BEACH Courrtv PALM BEACH Sta1e FL Zln Code 33435 Lender SEASIDE NATIONAL BANK & TRUST I I I PATIO 35,0' BEDROOM BEDROOM BATH in 0 '" DINING BEDROOM KITCHEN Co <i q- LIVING ROOM BATH 11.4' '" ,..: BEDROOM '" ~dR~1 m GARAGE ~ C\l ~ 12,3' 11.4' $keld1byAfJar.J'" Comments: AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code DoacrIptIon Not aile NetToIIII. hokdown aubl.... GLAl Firat rlcoX' 1325 , , 1325, 9 Fi...t Floor GU. G.Z'~ 220,0 220,0 23,& " 37,8 U2,l 11.4 " 30.5 347.7 7.0 " 12,3 8&.1 Net LNABLE Area (Rounded) 1326 3 Items (Rounded) 1326 Form SKT,8tdSkl- 'WInTOTAL" appraisal software by a la mode, Ine, -l-80()'ALAMODE IRle No 095-12347481 Pace #191 Comparable Sales Mali Berrewer/Clent NORFUS & RAMSAY Properly Address 222 NW. 7TH AVENUE CItv BOYNTON BEACH Ceuntv PALM BEACH State FL ZIp Cede 33435 Lender SEASIDE NATIONAL BANK & TRUST a Ia mode, inc: t1w__.....~..,....." e ,fI" , ......... 8acJl _1_-" J i ~_Aw!! i i . ~ i ~ r .I! !!, i ~ . i i . "....." '. ~ ~ :;ww..,,"'... ~W~(J \ - i r : .....~ ......,w... I. q I ... . \ '\ . .;.;...~Dt -- r . ~ , . ~lf~_. ..., '-., I . I 1- ~ I f I i ! i f 1 ! , j t I I . I 1M2l'ld..... :J .......0...... l~:""" I ; . ! ~ c ! . UN"'.../' 1 z .-.... 1II[2*~ f . 1 ~ . . t . ~ ~ 1 I <> ! I ...-... <J ., f .;'~ ., " /, i " I r I i I I ! ; j I I I ' I i J ~ ! . ..."""..... ..,....". 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I"''''/we 1W7111....... lM'7Wt__' IW_~ If i . !f _.1W1:lf'>'- l' . iW~Awo .i Ntt",,- !Wlttl...... - "UIb...... .-c.....UI I ! ! ...Jt SWllrl..... &E:121!l.... \ 1W1'......... Ferm MAP.LOC - 'WInTOTAL' appraisal software by a la mede, Inc. -1-800-AlAMOOE II) '" ~ ! F::J ..J u.. ~ \I) III C ID U ::i :r: ~ III :E <i a. t '" Iii ::J I!: all ~ w I ::J ?iZ <i !~~g all~~~ (IJ 'ow ~~~~ ~~l6ffi till! ~! i.~ ., ~~\B! j' ~:'8~)21 STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL DD SEQ#L08101002456 I' - 1I1.l.~' ,i"ll~I.:III~\mlli~LICENSE NBRI ,10llOL~o081280201467 ~JU)2464 ' The CERTIFIED RESIDENTIAL APPRAISER Named below IS CERTIFIED Under the proviaions of Chapter 475 FS. Expiration date: NaV 30. 2010 DOOLEY. M SCOTT 403 SW 8TH STREET FT LAUDERDALE FL 33315 CHARLIE CRIST GOVERNOR CHARLES W. DRAGO SECRETARY .rnsPLAYAS RE,QUIRED-aV LAW --',--- ~-~" -------_..-._.,-"_.~-----, ~ o ::;: ~ ~ d ... f .!!! .. ,.., D I :; ~ ~ S 'C ;= I '" 9 ~ ~ [file No 095-12347481 Paoe #211 Borrower/CHent NORFUS & RAMSAY _.~ - --- Prooertv Address 222 NW, 7TH AVENUE City BOYNTON BEACH Courrtv PALM BEACH State FL Zip Code 33435 --- Lende- SEASIDE NATIONAL BANK & TRUST Supplemental Addendum File No 095-1234748 This summary report is intended for the use by this lender/client (and/or assigns) for mortgage finance purposes only, This report is no intended for any other use, APPRAISAL DEVELOPMENT AND REPORTING PROCESS This Is a summary appraisal report, which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report, As Such, It presents only summary discussions of the data, resonlng and analyses that were used In the appraisal process to develop the appraiser's opinion of value. Supporting documentation that Is not provided with the report concerning the data, reasoning, and anaiyses is retained In the appraiser's files, The depth of the discussions contained in this report is specific to the needs of the client and for the intended use stated In the report, The appraiser Is not responsible for unauthorized use of this report. SALES COMPARISON APPROACH The Sales Comparison Approach is the process of analyzing relatively recent sales of similar or comparable properties for an indication of the subject's market value, This approach directly reflects the actions of current buyers and sellers and is usually considered to be the most accurate and reliable of the three approaches for single-family residential properties, The property sasles used In this report have been compared to the subject and adjusted for differences in location, improvements and lot size, financing, condition, appeal, pool and patio areas, extras, and other important factors, Sales of similar properties in the subject neighborhood and similar areas have been investigated and analyzed, Those considered to be most comparable were used In this report, COST APPROACH The Cost Approach is based on the proposition that an informed purchaser would pay no more than the cost of producing a substitute property with the same utility as the subject. It is particularly applicable when the property being appraised involves new improvements, which represent the highest and best use of the land. The Cost Approach Is comprised of estimated site value, the contribution value of the site improvements, and the depreciated value of the building improvements, Value of the site improvements is estimated based on their contributions to the overall property, This estimate considers their estimated cost new, observed physical condition, and typical demand with this type of property, Depreciated value of the property's building Improvements Is estimated by deducting its accrued depreciation of diminished utility from Its costs of construction or current prices, Cost of construction Is estimated based on various conversations with builders and a comparison with the Marshall Valuation Service, Physical depreciation is based on the straight-line method, Depreciation is based not only on construction quality, physical condition, and observed deferred maintenance, but also on general neighborhood and locational trends, Demand is average for properties in the subject's area, INCOME APPROACH The Income Approach is based on the deflnatlon of value as the present worth of the future income, This approach has its greatest application when appraising properties in areas where tenant occupancy predominates, . URAR : NeIGhborhood. DescrlDtlon THE SUBJECT is LOCATED WITHIN THE BOYNTON HILLS SUBDIVISION LOCATED IN CENTRAL PALM BEACH COUNTY, TYPICAL AMENITIES SUCH A SCHOOLS. SHOPPING. AND OTHER SUPPORT SERVICES ARE ALL WITHIN CONVENiENT DISTANCES, THE SUBJECT HAS ADEQUATE ACCESS TO MAJOR ARTERIES OF TRANSPORTATION SUCH AS WOOLBRIGHT ROAD WHICH PROVIDES EAST-WEST ACCESS, MILITARY TRAIL WHICH PROVIDES NORTH-SOUTH ACCESS, AND 1.95 WHICH ALSO PROVIDES NORTH-SOUTH ACCESS, . URAR : Nelahborhood . Market Conditions GENERAL MARKET CONDITIONS APPEAR TO BE IN DECLINE WITH SUPPLY GREATER THAN DEMAND, FHA, VA AND CONVENTIONAL FINANCING AT COMPETITIVE RATES IS PREDOMINANT IN THIS AREA. NO ADVERSE NEIGHBORHOOD INFLUENCES NOTED THAT WOULD ADVERSELY AFFECT THE SUBJECrS MARKETABILITY, THE SUBJECT'S COMPETITION CONSISTS OF NEW CONSTRUCTION AS WELL AS RESALES OF EXISTING HOMES, Form TADD - 'WinTDTAL' appraisal software by a la mode, Inc, -1-aoO-ALAMDDE Peyton Appraisals Residential Real Estate Appraisals NORFUS/RAMSAY File No. 09070702 c APPRAISAL OF r . The Real Property LOCATED AT: 222 NW 7th Avenue Boynton Beach. FL 33435 FOR: Seaside National Bank & Trust 4290 Professional Center Dr., Suite 201 PBG. FL 33410 BORROWER: NORFUS & RAMSAY, Latasha & Rakera AS OF: July 8, 2009 BY: r Robert L. Peyton State. Certified Residential Appraiser #RD6182 6279 Terra Rosa Circle. Boynton Beach. FL 33472 Tel: 561.901.4609 Fax: 561.734-3458 ComDlete Appraisal Process/Summary Appraisal Report Uniform Residential Appraisal Report NORFUS/RAMS" File No, 0907070: The puroose 01 this summarv appraisal report is to provide the lender/client with an accurate, and adequatelv sUDPorted, opinion 01 the market value of the sub'ect property Prooertv Address 222 NW 7th Avenue Citv Soynton Seach State FL Zip Code 33435 - --- Borrower NORFUS "RAMSAY, LatlSha" Rakara Owner 01 Public Record ZMJ Investments, LLC County Palm Beach Leoal DesaiDlion BOYNTON HILLS L T 117 BlK C -~-----~ ~~--.,--~ ------------ Assessors Parcel # 08-43-45-21-07-003-117C Tax Year 2008 -,- R.E, Taxes $ 890,00 . ----~-- Nelohborhood Name Bovnton Hills ------- Map Reference 43-45-21 Census Tract 61 ,00 I n..."""nt rlOwner Tenant IxlVacant Special Assessments $ None Known DpUD HOA $ N/A _ -'o'p~er year o per month' Pro_v Rlnhts A.....aised Ivl Fee Simple r l leasehold D Other Idescribe. ----..--------- --~ --.------ Assimment Tvne Ivl Purchase Transaction r l Refinance Transaction r j Other (descrlbel -' Lender/C1iem Seaside National Bank" Trust Address 4290 Professional Center Dr., Suite 201. PBG, FL 33410 ----------~ Is the subleel "",...nv currentl ollered lor sale or has It been offered forsale in the twelve months nrior to the ellective date of this aDoralsal7 rXlYes r lNo .- ------.------. Repon data source(s) used, offering price(s), and daters), See Attached Addendum ------ ~-------_.~ -------------- -, I W did D did not analyze the contract lor sale for the subject purchase transaction, Expfaln the resu~s of the analysis 01 the CDntract for safe or why the analysis was not performed A slnned/fullv executed coov of the ourchase contract was orovided showlnn the contract erlce and the date of the contract, This conv Is retained In the work file and Is assumed to ba the comelete contract, Contract Price $ 223 000 Date of Contract 3/25/2009 Is the "'onenv seUer the owner of public record? Ixl Yes r l No Data SoU'Celsl PAPAITRW -- Is there any fmancial assistance (loan charges, sale concessions, gih or downpayment assistance, etc,) to be paid by any party on behaW of the borrower? D Ves W No If Yes, repon the total doUar amoum and describe the kems to be paid, $ None Known The purchase contract has been provided and does not indicate anv financial assistance to be eald on behalf of tha borrower, The conv of the nurchase contract Is retained In the work file and Is assumed to be i the comnlete contract, Note: Race and the racial comoosltlon of the nelahborhood are not 8rvvalsal ractors. Neighborhood CharactBf$tlc;S One,Unlt Housing Tr'er]ds Qne.lJnlt HousIng Present Land Use % Location r l Urban Ivl Suburban r l Rural Prooertv Values i-llnereaslnn r l Stable Ixl Decllnlna PRICE AGE One,Un~ 91 % BuUt,Un Ivlover 75% l25,75% r . ] Under 25% Demand'Sllnnlv rl Shonane illlln Balance r -lOver SUPOlv $10(0) 11<<<' 2-4 Untt 2% Growth r l Ranid xl Stable r lsfow Marketina Time il Under 3 mths 1vl3-6 mths r lOver 6 mths 26 Low 0 MuIti,Famil -~ Neighborhood Boundanes The nelohborhood Is bounded bv Gatewav Blvd, to the north, Bovnton Beach 236 Hinh BB Commercial 5% Blvd, to the south, US-1/Federal Hwv, to the eaat and 1-95 to the west, 75-150 Pred, 2B-53 Other % Neighborhood Descnption See Attached Addendum --- ~--~ ------ Market Conditions (including support for the above conclusions) See Attached Addendum ----- -- Dimensions - 56 x 98 x 50 x 124 Area -5676 Sn,Ft,/O,13 Acre. Shaoe Irreoular View Re.ldential-Avg 5...citlc Zoninn C1asslflClltion R 1 A Zonlno Descrl"ion Residential Slnnle-Familv ----- Zomnn Comnliance r xl lenal r l leaal Nonconformina fGrand'athered Use' r l No Zoninn r lllleaal (describe] --,-- Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? W Yes LJ No If No, descnbe, The subiect ImDrovements are reasonablv tVDical and comoatlble with market demand for the neiahborhood; the Dresent imorovements contribute to value. Utilities Public Other Idescrlbel Public Other (describe) ,-, Off-site lmorovements T~e Public Private Electrickv rl r xl Overhead Water W -TT _ Street Asphalt lx1 ==tt - Gas rl Il None Noted San~arv Sewer Ixl II Allev N/A 11 FEMA ""ecial Flood Hazard Area rlYes rXlNo FEMA Flood Zone C ,-, FEMA Map # 1 20196-0004C FEMA Map Date 9/30/1982 Are the utilities and off-ske im"'ovements lvtlical for the mar1<eI area? rxlYes I lND If No, descnbe, Are there any adverse site conditions or external fattors (easements, encroachments, environmental conditions, land uses, etc.)? []Yes WNo If Yes, describe, Electric and water utilities were disabled and non-ODe rational at the time of the aopraisal inspection. ---,~-----_._-- -.------ ,--,----------------------------- GENERAl. DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/c:tlndition INTERIOR materials/condition Units Ivl One r lOne with Accessorv Un~ IIxl Concrete Slab r l Crawl Snace Foundation Walls Concrete Slab-Unk Floors Tile/Cernet-Gd # of Stones One l Full Basemem Il Partial Basement Exterior Walls CBS-Gd WaHs DW IKD/Palnt-Gd TVDe Ixl Det. r l Att. I I S-Det./End Un~ 8asement Area 0,0000 so, h, Roof SUlface Metal-Gd Tnm/Finish Wood-Tvn lExistino Ivl pNVYKed I I Under Const, Basement Finish N/A % Gutters & Downsoouts Alumlnum-Gd Bath Floor Tile-Gd Desian (St"'e' Ranch l OUtside Entrv/Exlt r l SumD Pumn Window TVDe Aim Hno/lmeact-Gd 8ath Wainscot Tile-Gd Year 8uih 2009-0 Evidence of r llntestation Storm Sash/Insulated None - Car Storane rlNone Effective Ane IVrs' 0 lDamMess r l Settlemem Sa-eens Yes-Avn IIvlDrivewav # 01 Cars 1 Attic None Heatino IxlFWA Ir lHWBB I r lRadlant Amenities WoodStDve(s) # Drivewav Surface Concrete lDmn Stair Stairs lOther I Fuel Elec -1 Finmlacefsl # Fence ["xlGaraoe # 01 Cars 1 lFloor IX Scuttle Coo/lno rXl Central Air Condttioninn -1 Patio/Deck X Porch learoort #01 Cars -1 Finished Heated 1 Individual If lOtherCFs Ipool Other IAtt, TIDet, r X18uiit'in ADollances I p I Refrinerator [xl Ranne/Oven III 1 DIshwasher III lDisnnsal III 1 Microwave I p I Washer/DNer Other (describe' Finished area above orade contains: 6 Rooms 4 Bedrooms 2 Bathls' 1,315 Sou are Feet of Gross Livino Area Above Grade Addttionai leatures (speciai energy efficient items, etc,), See Attached Addendum ---------- --------~ Descnbe the condition of the propeny 6ncludlng needed repairs, deterioration, renovations, remodeling, etc,), The sublect is oroDosed construction and is annraised as if comnlete. Details taken from oleos and soaes orovlded bv the builder. After review of available data, no ohvsical or functional inadenuacles are antlclnated unon comnletlon. No externallnadeauacies noted. .--- ._~-_._,._--~-- ,n -- Are there any physical defICiencies or adverse conditions that affect the livability. soundness, or structural integrity of the property? Dves WNo If Yes, describe, ~- ----~-~_. -- Does the property generaly conform to the neighborhood (functional utility, style, condkion, use, construction, etc,)? OOYes UNo If No, describe. The subiect is within the ranoe of nelohborhood homes in terms of style, size, condition and construction Qualitv. - -- Freddie Mac Fonn 70 March 2005 Produced using ACt son-e. eOG.234 8727 _It~b.com Pagel 0(6 Fannie Mae FCJm'I'~ Mirth 2005 'OOU~(}629(j:. There .re 3 ClIIlIll8rable ~ ClllTentlv offered for sale in lhe subiect neillhborhcod ......... In nril:e from $ 190 000 10 $ 235 000 I There .re 2 mmoarabIe sales In the subiecl ,eiohborhood within the ns<I twelve molths r. OM In sale nril:e from $ 223 000 10$ 235000 FEATURE I SUBJECT COMPARABLE SALE NO, 1 COMPARABlE SAlE NO, 2 COMPARABlE SAlE NO, 3 222 NW 7th Avenue 717 NW 2nd Street 709 NW 2nd Street 220 SW 1&t Avenue Address Bovnton Beach Boynton Be.ch Bovnton Beach Bovnton Beach PnlxImIIv Ie Sublecl - 1/10 Mile W - 1/10 Mile W -1/2 MileS Sale PrIce $ 223 000 i $ 235 000 1$ 223 000 1 $ 199 900 S8Ie Prk:e/Gmss Uv, PifJIJ $ 169.58 sa, ft. $ 146,05 so, ft,l $ 168,17 sa,ft,l $ 106,84 sa. ft.1 Data SaUltols\ PAl'A/I'Rlrllni;,m.". P APAITRW ISeller/Develooer P APAITRW /Seller/Develoner PAPAITRW/Realtor VerlllcatiJn SoUItols\ IlLS 1llIlIa3212 BOII:2 MlS #R2946430 DOM:291 MlS #R2946449 DOM:188 MLS IR2936458 DOM:307 VALUE ADJUSTMENTS OESCRIPTION DESCRIPTION .(,) IAd_ DESCRIPTION .(,11....- DESCRIPTION +(-) S Aih.tnent S.1e or Financing None Known FHA No Adj, FHA No Adj. FHA No Adj, Concesslnns None None ConeelSlon -3,500 Dale II. S.Ie/llme 3/25/2009 5/2009 Closed No Ad', 2/2009 Closed -6700 4/2009 Closed -2000 location Suburban Suburb.n Suburben Suburb.n leaseholdlFee SimnIe Fee Slmole Fee Slmole Fee Slmole Fee Slmole Site -0,13 Acres -0,12 Acres No Ad', -0,12 Acres No Adl, -0.15 Acrea No Adj, VIew Realdentlal-Avo Residential-Avo Residential-Avo Realdentlal-A vn Deslnn ISl'IIe\ R.nch-Avo 2-Storv-A va No Ad!. Ranch-Avo Raneh-Avo Qu.1tv II. ConSU\JCllOn CBS- Tvo/Roof:Mtl CBS-Tvo/Roof:Mtl CBS-Tvo/Roof:Mtl flm.SI..,T.....IDf:FIIl + 5.000 Ac1ua1 Aoe 2009-AO/EO 2008-A l/EO No Adl, 2008-A l/EO No Ad!. 1935-A 741E20 \ +40.000 Condtlon GoodlNew Eoual Eoual Inferior / Above Gr.de TcQI 1--.1 e"'" TOI.1lle_J Ba~s +4.000 TcQllBdrms-1 Ila1hs +4,000 TcQI 1._1 BaIhs +4,000 Room Count 6141 2 7 I 3 I 2,1 -2.000 7 I 3 I 2 7 I 3 I 2,1 -2.000 Grass LMnn Area40, 00 1,315 so,ft, 1.609 sa, ft, -12.000 1 ,326 sa, ft, No Ad!. 1.871 so, ft, -22.000 Basement & Finished N/A N/A N/A NIA Roams Below Grade N/A N/A N/A N/A Functlon.1 UIiIIN Adeouate Adeou.te Adeou.te Adeou.te HeaIi1nlCooino Central HtlAc Centr.1 HtlAc Central HtlAc Central Ht/Ac EnerlN EIIicIeft kerns StandardITvo St.nd.rdITvo StandardlTvo StandardITvo G8IlInelC.rmn 1 C.r G.r.oe 1 Car Garaoe 1 Car Gar.oe 2 C.r G.raoe -5000 PorcM'.tlalDeck Porch Porch Porch Porch Pool Fence,Etc.., None None None None Flreolace None None None None Uoorades Above Avereoe Eoual Eou.1 Inferior + 5.000 Net Adlustment (Tet.n I 1+ Ixl- 1$ 10.000 rl+ 1xI- 1$ 2.700 lXT+ T 1- 1$ 19.500 Adjusted Sale PrIce Net Adj. -4,3~1 Net Adj, -1.2~1: Net Ac!j, 9,8% I! 01 COllll8rables Grass Ad, 7,7% $ 225 000 Grass Ad, 4,8% $ 220 300 Grass Ad, 44,3% $ 219400 I IxJdld Udd not researthlhe s.1e ortr.nsfer history afthe sulllect property and compar.ble s.les, Wnot. expla", Rese.rch wee mede with our normal DrODArtv d.ta aourcea ICounty Web altea, Reeleatat. TRW and the MLSI Mv resean:h I x 1 did I did IIllt reveal anv orior s.les or transfers II. the subiect oranerlv for the three ve.... orior to the effective d.le of lhis 8lIOl'.isai, Data sourcAlsl County Pronertv Aooralaer Web SltelTRW/MLS My research 1 x I did 1 I did not reveal anv mor sales or transfers of Ihe comoarable sales for the veor mer Ie lhe date of sale II. the comnar.bIe sale. Data sourcAlsl County ProDertv ADDr.laer Web SltelTRW/MLS RIlIIOII the resuils of the research .nd anaivsls rI.lhe Drier sale or transfer histolV of the sublect - and com rable sales Ir...... .ddtional rvinr sales on na"" 3\, ITEM SUBJECT COMPARABLE SAlE NO, 1 COMPARABLE SAlE NO, 2 COMPARABlE SALE NO, 3 Date II. PJ10r Sale/Tr.nsfer 7/2008 7/2008 7/2008 NIA PrIce Ii Prior Salelfransfer .490.000 IWD\ .480,000 IWD) $480,000 tWO) N/A Data SaUlte's} See Above Data Sources See Above Data Sources See Above Data Sourcea See Above Data Sourcea El\'ective Date II. Data Scucels} 7/7/2009 7 nt2009 7/7/2009 7/7/2009 Anaiysls of prior sale ar tr.nsfer history of the subject propeny and comparable sales The "Eftectlva Date of Data Sources" la the date we .cnulred the d.ta, The prior of aublect wee P.rt of of a land Durch.ae of eloht (8) homee eltes, Comns 1, 2, 5 & 6 were also nart of this bulk n"rchase, SlSIImary of S.les Co~rison Approach, See Attached Addendum Indicated V.lue IN Sales 1'.MlIlSFIsoo Aormach $ 223 000 Indicated V.lue by: Sales Cnm""'lson An"'oach S 223 000 coS! Aooro.ch Ilf develnoMl S 225 100 IncnmeA~oach nfdevel"""'" S N/A Supplemental comments, certification & at.tement of IImltlno conditions are att.ched formlno an Intenral nart of this annralaal, The Cost Annroach was develoned but la not reoulred bv FNMA; olven little conalderatlon, The Income .nDroach waa not develoned; this la en owner occunied market; ronertlee are not DenerellY ourcheeed for Income, The Sales Comoarlson Analvala beat reflects the actions of buve.. and aelle.., This apprals.11s made U ..s Is.. lx.lsubject Ie completion per plans .nd specifications on the basis II. . hypothetic.1 condition thet the Improvements have been completed, OSlll!lect to the following repairs or a1t..tIons on the basis of. hypothetic.1 condttlnn th.t the repairs or alterations have been completed. or Osubjeclle the following required Inspection based on the eXlraardlnSf)' .ssumption that the condtlon or deficiency does net r~lre alteration or repar: See Attached Addendum Based on a complete visual Inspection of the Interior and exterior areas of the suqject property. defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification. my (our) opinIon of the market value, as detlned, of the real property that Is the suqject of this report Is $ 223,000 eS of 7/B/2009 . which Is the date of In"""Cllon end the el'fectlve date of this .n....Is.I, ale MK: form 10 Mardl20D5 PrIlltualdIJll ACI~'OQ.Z3Ul2:7......."".CllIII FamIe Mle Form 1004 Man:h 200S Complete Appr.isal Process/Summary Appr.ls.1 Report Uniform Residential Appraisal Report .. Page2ci6 Peyton Appraisals NORFUS/RAMSA Y File No, 09070702 111001506210& Complete Appraisal Process,rSummary Appraisal Reoor' NORFUS/RAMSA V File No, 09070702 Site Comment A survev was not made available; the deed was not checked for recorded easements. Onlv aDDarent easements. encroachments and other annarent adverse conditions have been renorted. if observed, The sub'eet site is conforming in terms of size. shape and tononranhv, Site dimensions taken from the DubUc record, ~~- -..-.-..- -----.....--. ------_._,-_...._.~----~ -- - .---- -----_.._- ... ---.---.----- - - - ---~.__._- - -_._._._.._~-~.__.- ------ . ._~---'--------" ------ --- -_.~---_.- -.------.-----.-- - - -- --.- _.-------~- ---.------.--....----- ----. --- -~.- --~._- -,~-- .---- ----- ...------.- -~ ---------------- ... --- ~._-_._----- ~---_...--------- ... - ----- - -- --.-- ------- -~----~----~ '-- ..-- ------------------------- ---------------- - --_._-~_.._------~~--------'- -- -- ~._.~--..- -------- --- -- ----------~---------- ---- - -- ------_.__..._~_.~---_...._._---- _ ~________m____________ -...- ------- --- ---~~---------~ ---------~------~-~-- - ----.--- -------------- -~~-_._- ----- --- --- -.---. - - .---. ---- -------..- -~- --- ------ ~- -- -.-- - ----- -- --- -- COST APPROACH TO VALUE (not required by Fannie Mae) Provide adenllate information for the lender/client 10 renllcate the below cost f,""es and calculations, suppon for the opinion of site value (summary of comparable land sales or other methods for estimating sile value) Vacant site sales are not available as this area has been built-out, Site values ere estimeted bv the ebstrection of imnroved seles, The lack of vacant site seles decre..es the reUabllitv Df the cost ennroech, The hlnh site to velue retia is tvnical for thia eree with no edverse ImDact on marketebllitv, This hioh retia is ettributed to current merket conditions. - ESTIMATED r I REPRODUCTION OR r X I REPLACEMENT COST NEW OPINION OF SiTE VALUE ,site,to,.alue,ra1io.:, 31.~, %, .. .. ..' $ 70,000 Source 01 cost data M......II a Swift Rnid.ntlal c.ot H.....Hkll........ltHr ut. Dwenino 1.3155o,Ft.@$ 100,00.., ,.. ..' $ 131.500 Qualilv ratlnn from cost service Good Effective date or cost data 3/06 Porch,Petio 105 So, Ft. @$ 30,00.., .... ..,. $ 3.150 Comments on CostA;;;;;;~c~ss livlna area calcutations, deoreciatlon. ole,) AooUences 3,000 See Atteched Addendum GaranelCamort 21 4 5a,Ft.@$ 35,00, ,... ,..... $ 7,490 Total Estimate 01 Cost,New ...... ..,' $ 145,140 Less 55 Plr/sIcal I Functionai I External Dearedatlon $0 I I ~-$r-----O D""reciated Cost or IlTllllOvements ' , ....... $ 145.140 .As-is. Vaiue or 5ke Improvements, , .", ..... ' . $ 10.000 Estimated Remaininn Economic Lne /HUD and VA onM 55 Vears INDICA TEO VALUE BV COST APPROACH, " .., ......., . $ 225 100 INCOME APPROACH TO VALUE (not required bv Fatinle MSe) ._~ Estimated Monthlv Market Renl $ N/A X Gross Rent Multlolier N/A -$ N/A Indicated Value bv Income Aooroach Summary or Income Approach Oncluding suppon for market renland GRM) The Income Approech to velue wes conaidered but it not apDUcable for this anelvsls, The sublect is located in en owner-occuDied neiohborhood end is nDt ",nicel'" nurcheaed for income oroduction, PROJECT INFoRMATION FOR pubs (If aooIil:able) Is the d............lbuilder in control 01 the Homeowners' Association /HOAl? T lves -fYlNo UM tv","s) I X J Detached I I Anached ~-_._---~- Provide the foHowim informatlon for PUDs ONL V r the deveiorwlbuUder is in control 01 the HOA and the subiect prQpert'j is an anached dwellinn unit. -- -- LeMI name or nro"", TOIai number ofr;hases Total number or unks T OIal number or unks sold Total number 01 units rented Total number or units for sale Data source(s) Was the orolect created bv Ihe conversion of an exislino buldinolsl into a PUn? rlves rl No If Ves. date or conversion, Does the nmlect contain anv multi-dwelina units? r lves r lNo Oata S01.fce1s' Are the un~s, common elements. and recreation facilities complete? Dves UNo If No, describe the stalus of completion, - DVes 01'40 ----- - Are the common elements leased to or by the Homeowners' Association? If Yes, describe the rental terms and options. _._--~.._.- Describe common elements and recreational facUities. This PUO aection is not ennlicable since the developer/builder is NOT in control of the HOA. and lor the sublect nronertv is NOT en ettached dwellinD unit, Uniform Residential Appraisal Report Freddie Mac Form 70March 2005 Produced uslngACI5~. 100.234.1'721 WHWlctNebcom Page3d6 FannIeMaeForm1004Uarch2~ l00._050fi2~OC Complete Apprelsal Process/Summary Appraisal Raport Uniform Residential Appraisal Report NORFUS/RAMSA Y FUe No, 09070702 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form Is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project, This appraisal report is subject to the following scope of worlt, intended use, intended user, definition of marltet value, stetement of assumptions and limiting conditions, and certifications, Modifications, additions, or deletions to the intended use, intended user, definition of marltet value, or assumptions and limiting conditions are not permitted, The appraiser may expand the scope of worlt to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certificatioDS are also not permitted, However, additional certifications that do not constitute material alterations to this appraisal report, such es those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted, SCOPE OF WORK: The scope of worlt for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form. including the following definition of market value, stetement of assumptions and limiting conditions, and certifications, The appraiser must, at a minimum: (1) perform a complete visual inspection of the Interior and exterior areas of the subject property, (2) Inspect the neighborhood, (3) Inspect each of the comparable sales from at least the street, (4) resaarch, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report, INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open marltet 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 titie from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (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, .Adjustments to the comparables must be made for special or creative financing or sales concessions, No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a marltet area; thesa costs are readily identifl8ble since the seiler pays these costs in virtually all sales transactions, Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the proparty or transaction, Arfi adjustment should not be calculated on a mechanical doller for dollar cost of the financing or concession but iIle dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1, The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes thet the title is good and markatable and will not render any opinions about the title. 2, The appraisar has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size, 3, The appraisar has examined the available flood maps that are provided by the Federal Emargency Management Agency (or other date sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area, Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination, 4, The appraiser will not give testimony or appear in court becausa he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law, 5, The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc,) that would make the property less valuable, and has essumecl that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for arfi engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assassment of the property, 6, The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner, _....'...10"""'2005 ProcNo.cf\ll~ ACt ..,..~~.I127_....b.com ariiJil.4ieFDmll[JJ4 awen ZW5 10004_050121IOI Complete Appraisal Process/Summary Appraisal Report Uniform Residential Appraisal Report tWRFUSJRAMSA \' F,le No 0907070: APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1, I have, at a minimum, developed and reported this appraisal in a=rdance with the scope of work requirements stated in this appraisal report 2, I performed a complete visual inspection of the interior and exterior areas of the subject property, i reported the condition of the improvements in factual, specific terms, I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property, 3, I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in piace at the time this appraisal report was prepared, 4, I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5, I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report, 6, I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report, 7, I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property, 8, I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land, 9, I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales, 10, I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property, 11, I have knowledge and experience in appraising this type of property in this market area, 12, I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located, 13, I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct, 14, I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value, I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc,) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property , 15, I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct, 16, I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17, I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction, I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties In the vicinity of the subject property or on any other basis prohibited by law, 18, My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application), 19, I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report, If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report, I certify that any individual so named is qualified to perform the tasks, I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20, I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report, reddle Mac orm 10 March ZOOS Produced U'lnllAC1'~;~m23"'.S721_,'~b.eom annleMae 0l1I'l1004Mtrttl2005 100A_OS ce2901! Complete Appre'sel Process/Summery Appre'sel Report Uniform Residential Appraisal Report NORFUS/RAMSA Y FUe No, 09070702 21, The lender/client may disclose or distribute this appraisal raport to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage Insurars; govemment sponsored enterprises; other secondary market participants; data collection or raporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other Jurisdlctlons; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media), 22, I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to cartain laws and regulations, Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me, 23, The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, govemment sponsorad enterprises, and other secondary markat participants may rely on this appraisal report as part of any mortgage finance transaction that involves anyone or more of thesa parties, 24, If this appraisal report was transmitted as an 'electronic record' containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature, 25, Any intentional or negligent misrepresentation(s) contained in this appraisal raport may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 1 e, United States Code, Section 1001, et seq" or similar state laws, SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1, I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification, 2, I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification, 3, The appraiser identified in this appraisal report is either a sulH:ontractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law, 4, This appraisal report complies with the Uniform Standards of Professional Appraisal PractJce that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in placa at the time this appraisal report was praparad, 5, If this appraisal report was transmitted as an "electronic record' containing my "electronic signature,' as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as If a paper version of this appraisal report were delivered containing my original hand written signature, APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature~1. Name Robert L, Pe 0 Company Name Peyton Apprelsals Company Address 6279 Terra Rosa Circle Boynton Beech, FL 33472 Telephone Number 661-901-4609 Email AddressPeytonAppralsall@belllouth.net Date of Signature and Report 07/08/2009 Effective Date of Appraisal 7/8/2009 State CertiflC8tion # RD6182 or State License # or Other (describe) State FL Expiration Date of Certification or License 11-30-2010 State-Certified Residential Appraiser IRD61 82 ADDRESS OF PROPERTY APPRAISED 222 NW 7th Avenue Boynton Beach, FL 33436 ~ Signature Name Company Name Company Address Telephone Number Emall Address Date of Signature State Certification # or State License # State FL expiration Date of Certification or Licanse State # SUBJECT PROPERTY o Old not inspect subject property o Did inspect exterior of subject property from street Date of Inspection o Did Inspect interior and exterior of subject property Date of Inspection COMPARABLE SALES o Old not inspect exterior of comparable sales from street o Did Inspect exterior of comparable sales from street Date of Inspection "".""," mn1l)M"""ZIlll5 Prod~d UlIngACI~~m.234.an7_..~b.com Tam~crm 1004 Mardi m '~0508:2108 Peyton Apprsisals Complete Appraisal Process/Summary Appraisal Report Uniform Residential Appraisal Report NORFUSIRAMS" File No, OS070702 FEATURE SUBJECT COMPARABLE SAL E NO.4 COMPARABLE SALE NO, 5 COMPARABLE SALE NO, 6 -- 222 NW 7th Avenue 716 SW 1st Avenue 210 NW 7th Avenue 713 NW 2nd Street Address Bovnton Beach Bovnton Beaer Bovnton Beach Bovnton Beach PIllXimitv 10 Sublect - 4/5 Mile 5,\' 2 Sites E - 1110 Mile W Sale Price S 223,000 is 184,000 Is 235 000 Is 223,000 Sale PItlVGross u", Area S 16S,58 sO, ft, $ 138,24 so ft,! $ 16S,S2 sO, ft,1 S 173,81 <t1,ft,1 Data SOll'Cels) PAI'AlfRWftllULlIIn. PAPAITRVI PAPAITRW/Oeveloner PAPAITRW IOeveloner V...iflCation Sourcels) MLS R3033212 DOM:2 MLS #R3003872 OOM:S4 MLS #R2S46454 OOM:341 MLS #R2S46432 OOM:341 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +{-)t.Adustmenl DESCRIPTION +(-)t.Adiustment DESCRIPTION I +(-) So Adlustrrer~ Sale or Financing None Known iFHA No Adj, Active listing No Adj, Active Listing T No Adl Concessions None Known Date of SalelTime 3125/200S 612009 Closed No Adi, Active Listina ,11.750 Active Listina -11.150.' location Suburban Suburban Suburban ---- Suburban Leasehold/Fee Simole Fee Simnle Fee Simole i Fee Simole Fee Simnle -, Sfte -0,13 Acres -0,18 Acres ; No Adl, -0,16 Acres No Ad', -0,12 Acres No Adj' View Resldential.Avo Residential~Avq .-- Residential.Avo Residential.Avn Desion ISMe) -- ----,._~. Ranch.Avo Ranch.Avo 2.Storv.Avo No Ad', Rench.Avn Qualft. of ConSlructlon CBS. Tvn/Roof:Mtl CBS. Tvn/RootShilgl. I + 5,000 CBS. TvnlRoof:Mtl CBS. Tvn/Roof:Mtl Actual Aoe 200S.AOIEO ISS4.A 151E7 \ + 14,000 200S.AO/EO -~. 200S.AO/EO ~-,- Condition Good/New Inferior I Enual Enual Above Grade Total IBdrm-;f Baths TotallBdrmsJ Baths +4,000 Total IBclnns.l Baths +4,000 TotaIIBd""J Baths + 4,000 Room Count 6 I 4T 2 6 I 3 I 2 7 I 3 I 2,1 .2.000 513T 2 GrossUvinJ "'0840.00 1,315 so, ft, 1,331 so, ft, No Ad', 1 ,383 so, ft, No Ad', 1 ,283 so, ft, No Adi. 8asemem & Finished N/A N/A N/A N/A Rooms Below Grade N/A N/A N/A -, - -- N/A -- ---.......- Functional Utilil' Adeouete Adeouate Adeouete Adeouate -- H08tinoleooAno Central HtlAc Central Ht/Ac Central Ht/Ac Central Ht/Ac --- Enerov EffICient ftems StandardlTvo StandardlTvD StandardlTvo StanderdlTvD GaraaelCaroon 1 Car Garaoe 2 Cer Garage -5.000 1 Car Garaoe 1 Car Garaoe ..- PorchlPatio/De<:k Porch Parch Porch -t- Porch ".-- - -~-- Pool.Fence Etc,.. None None None None ! ---- .. Flreolece None None None None -- r ---- Uoorade. Above A veraoe Inferior +5.000 Eoual Eoual Net Adiustment ITatan !xl + I [, $ 23.000 I 1+ lxi, 1$ S.750 r 1+ Txl. 1$ 7,150 AdjuSled Sale Price NetAdj. 12,5% Net Adj. '4,1~ll NetAdj. .32~ I, of Comoarables GmssA", 17,S% $ 207.000 GrossAdl 7,6% $ 225 250 GrossAdi, 6,8% $ 215850 ITEM SUBJECT COMPARABLE SALE NO, 4 COMPARABLE SALE NO, 5___ COMPARABLE SALE NO, 6 Date of Prior SalelTransfer 7/2008 NIA 712008 712008 Price of Prior SalelTransfer $480.000 IWO) NIA $480,000 (WD) $480,000 (WD) Data Sourcelsl See Above Data Sources See Above Data Sources See Above Data Sources See Above Data SourCBS Effective Date of Data Source's' 717/200S 7/7/200S 7/7/200S 7/7/200S Summary of Sales Comparison Approach .- ~-_."---~~~ ~~,~ _._--,.__._.,--------~----_._---------~.~'-- --- ..------- -- --- - -- ---- -- "--~----" -- --- .-- - --- -- - ------- -- -- -- .--- ...---.- -- redclle Mac Form 70 March 2005 Produced uslrIS ACI son-e, 100,nU727 www,actweb,com Fannie Mae Form 1004 March 2006 1lJO.4_05062905 ADDENDUM Borrower. NORFUS & RAMSAY, LalIIlha & Rakers Property Address: 222 NW 7111 AYlIIUl City, Boyrdon Beech Lender. Seaside Nalional Bank & TN. State: FL File No,: 09070702 Case No,: NORFUSIRAMSAY Zip: 33435 TWELVE MONTH LISTING HISTORY OF SUBJECT PROPERTY A MLS listing history search was performed. This search produced pending listing #R3033212; listed on 7/6/2009 for $223,000. This was the only listing found for the subject, or offer for sale, over the past 12 months (no expired, cancelled, withdrawn, or off merket listings were found), NEIGHBORHOOD DESCRIPTION The subject is located within an established area of mostly older and average quality single family homes that have been adequately maintained. Accessibility, convenience, time/distance and costs to and from support facilities (schools, shopping, employment, fire & police) is considered acceptable by this market and is typical of competing neighborhoods, The subject property has price/value that is above the predominant value. Although a sufficient number of area homes exist with a similar or higher value their numbers are not sufficient enough to represent the predominant value. The subject's marketability is not adversely impacted. NEIGHBORHOOD MARKET CONDITIONS The following market trend analysis is applicable to SFRs and TownhomesNillas within the subject's MLS market area (4330 & 4340). Despite a relatively stable rate of sales per month and relatively stable inventory, property values are declining based on declining median neighborhood sale prices, The analysis of total sales, absorption rate and inventory concludes that the per month supply is stable (In Balance), Marketing time for reasonably priced properties is averaging 4-5 months. Support for these market conclusions is contained in the attached market conditions addendum. ADDITIONAL FEATURES Auto gerage door opener, hurricane garage door, security system, impact glass windows, metal roof, ceiling fans, knockdown finish walls/ceilings, 20' ceramic tile on the diagonal in living areas, granite kitchen/bath countertops, wood kitchen/bath cabinets, flat top range, and recessed kitchen and living room lighting. COMMENTS ON SALES COMPARISON Comps 1-4 are recent sales located in or near the subject's neighborhood. Comps 1 and 2 are by far the most recent, proximate and comparable sales, thus are weighted highest in the final value estimate. Comp 3, despite its age, was chosen because of its relative proximity to subject, and because it was significantly renovated recently. Comp 4, despite its location west of 1-95 (subject and all other comps are loceted east of 1-95), was chosen primarily because of its age. Comps 5 and 6 are active listings located in the subject's neighborhood, and included as support for the final value estimate. Note that no recent. proximate, and comparable sale with 4 bedrooms (like subject) could be locatad, thus an across-the-board bedroom adjustment was unavoidable and has been applied. The market trend analysis of the subject's market area revealed that property values have declined approximately 12 % in the past year, thus proportional time-depreciation adjustments (- 1 % per month) are applied to all sales comps which closed prior to 5/2009 (comps 2 and 3), List-to-sales-ratios in the neighborhood are averaging approximately 95%, thus proportionate adjustments are applied to comps 5 and 6. Comps 3 and 4, to varying degrees, are older and in inferior condition, thus proportional age/condition adjustmants are applied. Note that though comp 3 is significantly older, it has been recently renovated, which is reflected in its effective age (Le, effective age for a property in average condition is typically 1/2 its actual age). Comps 3 and 4 have inferior (Le. less desirable) non-metal roofs, thus a nominal construction quality adjustment is applied. Comps 3 and 4 are inferiorly upgraded, thus nominal upgrade adjustments are applied. The use of comparable sales which resulted in large line item and gross percentage adjustments (comp 3 only; due primarily to age and size) was unavoidable. The best data has been utilized, Other sales were considered but they were less similar than those presented and would require larger percentage adjustments. This appraisal is affixed with a digital signature and was transmitted electronically to the client in a secured read & print only format. Refer to Supplemental Comment 18 for certification of signature protection. CONDITIONS OF APPRAISAL A current value estimate is made of the basis of a hypothetical condition that the proposed improvements have been completed. No significant changes in market conditions are foreseeable during the construction period. COST APPROACH COMMENTS Physical depreciation is based on the agemfe or modified age/life method, Functional and/or external depreciation, if present, is specifically addreased in the appraisal report or other addenda, See attached proparty sketch for calculations of living area and other improvement areas. As the effective age increases, the reliability of the cost approach typically decreases because of the subjectivity of estimating depreciation. The cost approach, whether requested by the client or not, has only been developed by the appraiser as an analysis to support their opinion of the property's market value, Bocause there is insufficient market evidence to credibly aupport the site value/derivation of total depreciation, the cost spprosch is not given any consideration in the appralaer's final analysis, Use of this data, in whole or part, for othar purposes is not Intended by the appraiser, Nothing set forth in the appraisal should be reliad upon for the purposa of determining the amount or typa of insurance covaraga to be plaCed on the subject property (I,e, this analysis is not intended for insuranca purposas), The appraiser assumes no liability for and does nct guarantee that any insurable value estimate Inferrad from this report will result in the subject property being fully Insurad for any loss that may ba sustainad, The appraiser recommands that an insuranca profesaional be consulted, Further, the cost approach may not be a reliable indication of replacement or reproduction A SuperviSOry ADPraiser. Robert L, Pevton Name: Borrower: NORFUS & RAMSAY, Latasha & Rakera Property Address: 222 NW 7th Avenue Cily Boynton Beach Lender Seaside National Bank & Trust ADDENDUM __~___ "_._ _ File No,. 09070702 C;;ase No NORFUSIRAMSA Y ___ State~~ ZiD 33435 cost for any date other than the effective date of this appraisal due to changing costs of labor and materials and due to changing building codes and governmental regulations and requirements. SUPPLEMENTAL I ADDITIONAL COMMENTE 1, This appraisal is for no other purpose other than property valuation. and the appraisers are neither qualified nor attempting to go beyond that narrow scope, Appraisal reports made for lenders are technical documents specifically made to lender requirements, Casual readers are cautioned about their limitations and cautioned against possible misinterpretations of the information herein, This Appraisal complies with USPAP and. when applicable. to Federal Housing Administration or Dept of Veterans Affairs standards and requirements 2, Because no detailed inspection was made. and because such knowledge goes beyond the scope of this appraisal. any observed condition or other comments given in this appraisal report should not be taken as a guarantee that a problem does not exist. Specifically. no guarantee is made as to the adequacy or condition of the foundation. roof. exterior walls. interior walls, floors heating/cooling systems. plumbing. electrical service. insulation, or any other detailed construction mailers. If any interasted party is concerned about the existence. condition. or adequacy of any particular item, we strongly suggest that a construction expert be hired for a detailed investigation, The appraiser is not a home inspector, The appraiser provides an opinion of value, This eppraisal should not be considered a report on the physical items that are a part of the property. Although the appraisal may contain information about the physical items being appraised (including their adequacy and/or observed condition). it should be clearly understood that this information is only used as guide for property valuation and not as a complete or detailed physical report. The appraisers are not construction. engineering. environmental. or legal experts. and any statement given on thase matters in this report should be considered preliminary in nature, The appraiser is not a home inspector, 3, The appraiser is not a termite inspector. The appraiser is not an environmtlntal inspector, The appraiser provides an opinion of value, The appraisal does not guarantee that the property is free of termites or environmental problems, The appraiser performs an inspection of visible and accessible areas only, The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental environmental conditions unless otherwise stated in the report. The appraiser is not an (JIIpsrt in the identification of hazardous substancas or detrimenta/environmental conditions, It is possible that the tests and inspectioos made by a qualified hazardous substance and environmental experts would reveal the existence of hazardous substances or detrimental envirorvnental conditions on or around the property that would negatively affect its value, Mold may be present in areas the appraiser can not see, The appraiser is not qualified to determine the cause of the mold. the type of mold or whether the mold might pose any risk to the property of its inhabitants. If any interested party is concerned about the existence, type and risk of mold, we strongly suggest that a mold expert be hired, The appraiser is not qualified in determining the existence of termites. If any interested party is concerned about the existence, type and risk of termites, we strongly suggest that a termite expert be hired, 4, The structures were IKIt checked for building code violations, and it is assumBd that all buildings meet applicable building codes unless so stated in this report, Well and septic systems. if any. ara assumed to be in good working order and of sufficient size and capacity, 5, Definition of reasonable II18rkating tine: An estimate of the amount of time it might take to sella prOjlerty interest in real estate at the estinated market lavel during the period inmediately after the effective date of the appraisal. Unleas otherwise noted within this raport. this tine is the lime as marketing time indicated for the neighborhood. Exposure time is defmed as follows: The estinated length of time the property interest baing appraised would have been offered on the market prior to the hypothetical consunmation of a sale at markat value on the effective date of the appraisal; a retrospective estimete based upon an analysis of past events assuming a competitive and open market, Unless otharwise stated within the report. reasonable exposure time is the same as that indicated for the neighborhood marketing time on page 1 of the appraisal report, 6, Personal property/furnishings is not considered a part of real estate being appraised, If personal property/fum~ure is included within a comparable selUng price and has influenced that price. an adjustment wiD be made. If personal property/furriture is included in tha subject property sale price it is not considered in this process, The rafrigerator and washer/dryer are typically considered personal property unless otherwise noted, ], The software utilized by Appraisar to generate the appraisal protects signature secur~y by means of a dig~al signature security feature for each appraiser signing the report. and each appraiser maintains sole control of their related signature through a password. hardware device. or other means. Allpraistr is fufty responsible for the integrity and authenticity of data and signatures transmitted electronically and will hold the client named herein (1004 report, page I, subject sectionl, (to be here now known as "client") harmless from and against any breach or failure of data integrity, signature authenticity, or breach of deta SBl:Urity. Adobe's DistiHer software or equivalent is utilzed by the appraiser to transtrit this encrypted PDF formeted aJllll'aisal. At a mininllm. the software contains the folowing sBCIlrity measures: Identifies transmission errors during the transmission process and, confirms date, time and quantity of data submitted by Appraiser and the date, time and quant~y of data received by the client, and secures data from ed~ing by means of a password, hardware device. or other means that remains in the sole control of the transmitting appraiser. All such transmissions shall be routed only to the cliBllt at the ell18i1address provided in the assignment request at the tilllt the order was placed, unless subsequently directed otherwise by tha client. Appraiser agrees that no such subnquent transmiBsion wi. result in additional fees billed to the client, unless agreed to by the client before said subsequent transmission. No duplicate transtrission of this report will be made and no denvery of a hard copy of this report will be II18de, untO appraiser has received the client's written instruction thereto, 8, From time to time photos of the comparable sales land/or listings. if applicable) used in this raport were taken from the Multiple Listing Service IMLSJ. These MLS photos have bean taken at the tilllt of the rlSting, prior to the closing of the sale and best reflects the condition of that c~arable sale at the tilllt of sale, Photos takBII by the appraiser can be 3.6 or 12 months altar the sale and may IKIt reflect the way the property appeared whBII it sold. In other instances, an acceptable photo may not be available from the street due to lbut not Iinited tol privacy waUs. fencing, trees/bushes, or houaes set back from the road on large acreage parcels, Even though the appraiser may not have taken a photo of a c~arable, the Scope of Work item (3J stilapplies as the appraiser certifies that he/she has personally inspected the exterior of all properties listed as comparables in the appraisal report, 9, The Intended User of this appraisal report is the Lender/Client. The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. subject to the stated Scope of Work, purpose of the appraisal. reporting requirements of this appraisal report form, and Definition of Market Value, A raiser: Supervisory Appraiser. Name: Robert L. Peyton Name: Borrower. NORFUS & RAMSAY, Latasha & Rakera Prooertv Address: 222 NW 7th AWrul City. BoYnton Beach Lender. Seaside National Bank & Trust No additional intended Users are identified by the appraiser. A raleer. Name: Robert L, Pevton ADDENDUM State: F L SuPII\IIsorv Appraieer. Name: File No,: 09070702 Case No: NORFUSIRAMSAY Zip: 33435 The pl.MVOSA or this addendum is 10 provide the lendedclient with a dear and accurate understanding of the market bell~ and cnndiliOll~ prevalenl inlhe 5IJh~I" neiglborhood, This is a required addendum for all appraisal reports with an effective da1e on or after April 1 , 2009. eny Addres, 222 NW 7th Avenue City Bovnton Beach State FL ZIP 33435 "ower NORFUS & RAMSAY tlbuctions: The appraiser must U$P.the information required on this form as the basis far his/her conclusions, and must provide suppor1 fOl those conclusions. regardillo sing trends and overall market conditions as reported In the Neighbort100d seeUon oftlle appraisal report fonn, The appraiser must fill in aU the informallon to the extent It . available and re~able and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must prOVide a. xplanation. If data sources provide the required infonnation as an average instead of the median. then the appraiser should report the avaUable figure and identify It as all verage. Sales and listmgs fTlUs1 be properties that compete with the subject property, determined by apptytngthe criteria that would be u:<>ed bv a prospective bUVe-f of the 1ec1 property The appraiser must explain any anomalies in the data, such as seasonal markets. new construction, foreclosure<; p.! Inventory Anllysi~ Prior 7-12 Months Prior 4-6 Months Current. 3 Months OveraD Trend Total # or Comparable Salas (Settled) 20 20 15 Increasing Slabie Declining Abtorption Rate (Total Sales/Months) 3,33 6,67 5.00 Increasing Slab,. Declining etal 1# of Comparable Active listings 221 160 141 Declining Stable Increasing onths of Houmg Supply (T etal LislingslAb .Rate) 66,37 23,99 28,20 Declining Stable Increasing IIn 58le & Wst Price, DOM, listlS... Ratio Prior 7-12 Months Prior 4-6 Months Current - 3 Month6 OveraU Trend Udan Comoarable Sale Price 112980 1089n 99455 Increasing Slab" X Declining Median Comnarable Sales DH\ls on Market 114 116 156 Declining SLable Increasing Wedian Comparable List Price 121230 116765 103625 Increasing Stable O&clining Median Comparable Listings Days on Market 256 245 187 Decining Stable Increasing Median Sale Price as % of Ust Price 93,19 93,28 95,98 Oeclinif1Q Stable Increasing -SeIe~-Cd~lot:Jer, builder, etc.)pald financial assistance prevalent? Il! Yes 0 No Declining Stable Increasing Expla~ in detail the seller conces5ions trends for the past 12 month5 (e_g.. :<>eller contribulions increaRed from 3% to 5%, increasing lJl';6 of buydowns, closing eMis, condo fees, options, etc.). Seller concessions are prevalent and relatively common at present, and are often necessary in order to move inventory, Seller concessions are typically 3-6% of the purchase price, Are foreclosure sales (REO sales) a factor in the market? ~Yes UNO If yes, explain (Including the trends in listings and sales of forecbsed propertiel';) There is a significant number of bank-ownedlforeclosed/short-sale properties recently sold and currently for sale in the subjects market area, This has contributed significantly to the decline in property values in the subjects mar1<et area over the past year, and could potentially contribute to a continued decline. Cite data sources for above ,"formatioR. MLS. Realist & Public Records, Summarize the above information as support for your condualons k1 the Neighborhood netion of the appraisal report form. If you used any acIdttlonallnformation, such as an analysis cf pending sales and/or expired and wtlhdrawn listings, to formuiate your conclutions, provk:le both an &xplanaUon and support for your ooncJusions. A summary of the above information supporting my conclusions can be found In the Neighborhood Market Cond ijions section of the report, Only the above Information was used to formulate my conclusions, If "'" ...bioct 10 . .m In . candominlum 01' __ or"'" , """'" ...tho IoIlowlna: Proil ct Name: Sulr'"'" """"'" Data Prior 7.12 Months Prior"-6 Months Current - 3 Months OWral Trend Totol # rl CompalobIo Solos (Set1lod) Increaailg ~. Docl'ming ~ Role (Totsl SaleslMonths) Increamg Slal>Ie Declining Totol # rl ConIoluohJe"""", Uodngs Iooclnlng - Increa&lng MonIho rl H008lnO Supply (Totel LloIIngoIAb.Rote) Io.clnlna SIobIe _sino Are foredosure safes (REO sales) a factor In the project? Dyes DNa If yes, indicate tl\e number of REO listings and explain the trends in Jistlngs and sales 01 foreclosed properfles. Summarize the above trench; and address the Impact on the subject unit and project, Slmature 1~1.. ,,+ SianalUre __Name Robert L. Pevlon .......Nome ---- Com..n. Nome nvAddous 627!lT Circle ~n' Add.... ~. RD6182 Stale FL S1IIIAt UoonooIC_.... Stal. I Add_ P alll/fi)beUsouth.net 1EmaI_ Market Conditions Addendum to the Appraisal Report F;la No, 09070702 Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009 PrDdut:ell uslng ACI sooWllre. 800.23481Z1 www.acMebCDm FormEDOC Borrower: NORFUS' RAMSAY,hUshl' Rlklre Property Address: 222 NW 7th Avenue Citv: Boynton Ie.ch Lender: Seulde NetlonBl Bank & Trust I I I I FLOORPLAN State: FL File No.: 09070702 Case No,: NORFUS/RAMSA~' Zip: 33435 10' P.n~'" 35' Bedroom Mom 8ect'oDm Main BaCh b ... lli'lino 8<<G'oom Kitdlen ;., i LNno Room 10.7 ;., " Foyer- l-C;or 12' I<l Garaoe ;... Enl"y Porth '" oj 11.3' i-- ... ~ 11.3' Bat> Bedroom 12.3' '~fl!itM=-: GU.1 ,IP .. NIlIUV_.e,. .'-~5 6279 To..a Ro.. Circle, Boynton Beach, FL 33472 Tal: 661-901-4609 Fax: 661-734-3458 I I I _.t .;e ... SUBJECT PROPERTY PHOTO ADDENDUM __ I Borrower: NORFUS & RAMSAY, L.tlsh. & R.klr. FileNo.: 09070702 Property Address: 222 NW 7th Avenue Case No.: NORFUS/RAMSAY cttV: Boynton Belch State: FL Zip: 33435 Lender: Seaside National Bank & Trust .,-) ..... FRONT VIEW OF SUBJECT PROPERTY Appraised Date: July 8. 2009 REAR VIEW OF SUBJECT PROPERTY ~) - STREET SCENE ~ COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: NORFUS & RAMSAY, Latasha & Riker. File No.: 09070702 PropertY Address: 222 NW 7th Avenue Case No.: NORFUS/RAMSAY City: Boynton Belch State: FL Zip: 33435 Lender: Seaside National Bank & Trust r (' r , COMPARABLE SALE #1 717 NW 2nd Street Boynton Beach Sale Date: 5/2009 Closed Sale Price: $ 235.000 COMPARABLE SALE #2 709 NW 2nd Street Boynton Beech Sale Date: 2/2009 Closed Sale Price: $ 223.000 COMPARABLE SALE #3 220 SW 1st Avenue Boynton Beech Sale Date: 4/2009 Closed Sale Price: $ 199.900 COMPARABLE PROPERTY PHOTO ADDENDUM Borrower: NORFUS & RAMSAY, Lalasha & Rakara File No.: 09070702 Property Address: 222 NW 7th Avenue Case No.: NORFUS/RAMSAY City: Boynton Beach State: FL Zip: 33435 Lender: Seaside National Bank &. Trust ~) COMPARABLE SALE #4 716 5W 1 st Avenue Boynton Beach Sale Date: 6/2009 Closed Sale Price: $ 184,000 COMPARABLE SALE #5 210 NW 7th Avenue 8oynton Beach Sale Date: Activ. Listing Sale Price: $ 235,000 :) COMPARABLE SALE #6 713 NW 2nd Str..t Boynton B.ach Sale Date: Activ. Listing Sale Price: $ 223,000 ') PLAT MAP (... , Borrower: NORFUS & RAMSAY, Latasha 8. Rakera Property Address: 222 NW 7th Avenue City: Boynton Beach Lender: Seaside National Bank & Trust ~ I State: FL File No.: 09070702 Case No.: NORFUS/RAMSAY lip: 33435 (' -; ~[i l~.~._._{( ~ -~: ~\~_ ~~ ., t- .. f!IlO' !f ..1 fUU&J ~, Iro. 14112 - ,1.~ @ '\ "j I.... lIl"Aa~ ~ : 0101 i. ...._ I 1 , ~ ___, _ . . . 1- ___ii ........, " . I .!~ i.l, ::2 ~. r-::.-.-ii~.~=-.;L~~/~~ !f:..G ~ 1 L:J l ~'~IZ~. ~:~~ ~ I &:=.. hJ -_~ "0 WI1 \ i l~rE 0510 ! lI'1la f ..~........; OJ \ . ~~ lIl.l'7Ao)!) 'M_I 1tIO" J 1;:- .~ -_ .1. ~~. 12!O t .:... i if!..o '-'-'_~ ,.. P..sAc,1 .-'-:.-.) atSO f . ..~..ii :J) ~,..... @) ._1" =.. J ~l CI) .....-:..,___ 3 ~ l""'" I I ~ i ~ / ~ , ~ .---' i If l lIIC> ~ i U) //~~ t2l_~j .~.. !!C'_ ~. i ;./.tt' P.J , .~ ~ ~_ = j /.~ I' ~ ~~.s t:lIlI It I h JI llnl: .. 5' 1 /'1. 101) 1nD J:k "I I 1c.D: 1OI0j :',... I ._ n..! ..i _..i ,/IlJ ___-- _M. I ....1! I ._ __.::...Jl _'_'_'_'___'-'-'-'-'-~-'-' ---'-r:'-'-" \'--'-'-'-' I 8 ' -,mcrrr' J \'\:0l1li 1- ...... ?j i .M', -I ....-'-:- i r :.:1 I i~ :J I\\~i ! I :J fl8t !DIO j :J 1Id 1:,: tiJ liI _., I'. 1Ii LJ I""" ..-, ..1MiI ~OQ J ::.~ ::.: ~ ~~~ ~ Ii! I -v=F-a!i ~ Ol~~li ~ -:, _ " :.t~ ~""'~,: lJl1~ I, ,It,...J ~,;",/~~,4 --" '1 ~tl ...~ ~ ~ ......-., "'_ " ~ ,_'- .......:.1. ,"-r "",-- .~ I -'-'-'-1 OI~ I _..I< f7DO ~--'.7*~:-'~ 1$11 ~ rn. _.._i =..i i fl~ "::"-,..... '-'-.- J . I f740i .,-..~. ~~ ._'-"-- i I( j I" ~ I !~-~;;PI 1. )./ \, R! ~~ ! .. !--~IP ".. ~/ .\....1 'Ml~i__ 7r:]1 :~j I ~ I'~jlit tfl \ .._.J ..:I!II i. i f.! =; 1 ~. ~ I I ".F "'~~~'" ",ll;! . -l~-'~' -.-.-~ -'~-,--,-'-f'-'-'-'-'-'-'-',..:'''''''''-'-'-'~ [TI-'-'-';HMI ".". j' - '-. "'J \~. )/~L J 1101 i ~~ r ~,,;[s ~ - \1'1O.~1e4D//'1 II '41 [~ J 'I! ~"I 'It41 . ~ \, IUCI i1~ TI ~ =-! ~tt..i.'~ _.~~, I, ~ I 1,1' \. /1.""', '""I i ~,~,' ~,~ I 0011 ;.f . ,II I ~-.-.~ -.eJ \ l ~~.......... ~ f, '~"'," ne:: ~---_._ M._;-.-'~' . ~1 .... , --- I. r-o:-''''''-'I.:.( ~ lOCO ,,-,-,-,-1 c.......!l . :r',i l 1JIO-.":;' ilia -,-'~l ~ I'mA! EG 1 lIlt1 ~ !C'Os:: 'j ~.i,,' './~ mo", I ~ . -~ ~....I. _.... ,. ,;,/ ~. . 'B I J alIl_ , ! ,.,.-.1 )'.A~ f 1 ~ J J t'-~ . : ---" -.: ;~~-.~ 14: ~.:~, '" . ,~~~ I { p~:(ll mo! l'l" ~~_ i '1 f ill ~j 1 I -'-'-1 Qi ~I ,,~ i . B I l 'j j i (' ~ ~n rIr .. II 6279 Terra Rosa Circle, Boynton Beach, FL 33472 Tel: 561.901.4609 Fax: 661-734-3458 '" '" .... <D [ '" g .. Q o ~ m o < ~ s ~ g> .. " :r .., ,... Co> Co> ... .... '" I: ~ Il!l;C-J6 _~"-C!1l".a! ~- : .---- ---- --6"'-- r "I-I~ r r--'i'F'-,NI,l',"::13t\.! ,II '-' Ii Z 'I I' ~ ii' " I ~, ~ II \ tM1tTQ - - r:==' "'-NMI't1/'iAV~ I, I i ~ I .... ". :[; I'M"'UM- ----~.... ,I l: I \' \\ "fN 8TI'tWAV., I a "r;; _.- :: ~' Ilri - NW~WAV i " I~ i" ToJO~t.r.Ro " ~~E I i~' ~ 8. 8 /---! - ./' ~_ .:>./11 -II -- ----== \ ~ ~~ , 1 , r I I I ; t II! 'It {. II~.I I ~ ,1.~ tjrl1 L....-i-- I ;D ... ~S~.r~o '!'I ~; ~ i ~ ~ 4i,~ ~.; ~:. 'iJ, 3 .0:11; ~::l~ I I EO :t' - .~' IJ ~, '2! __ ~"".t;f,tf I l,' ,I ,___" __ ji .~ J 'I ~"t~1", I, Comp 4 I 716 SW 1st A.,~ -i ~ '" ~ cD ~ J,. '" o <D .., .. ~ '" '" .:.. Co> ... c., ... '" '" " >- ~ :!( ... ~- .. Q '" o o .' SW t\TH I-it;"11rvr., '8 > J\.o'll' ~~(()iJ:l!i.,.m;. Sft'IlAllu1.,.\;::o:))')Dr;!oo.lol Ol~l :;~!'!I>>lC;-o,a;~ I(Iftt4THl~---= ~'l1~ - ~I'!, ~rl~~::~_.-::'- '~ ~-:- --!i!-.a: ,-- -::~N':13TIot __ " , 1'ltl~....., - ~ ~ e ~ - -:-.- j-- lo/E'1,3T1V,1 ,soim.i~ ~ ~ ~ '. _ Ccomp _ .,.;: J :..;; NEc1.TI1 l' "~- :r _ 2l{l ~'W -th A''ttlUt Jf, ,1 g' " 'J 0 - -::-1r=-1E11TH1" '....~'f\ Ze- 11 ( , ".~J.Rl -;lR = ____' OCR Ri:! " " i rii? -r.tA.liTINtUTfolER KINI3'JIlSPANIS HE!"": llf{E :m'l j E!1I.ur~1 ::~ ~~ $ i 'LEOn .:: In f ,"m: . (U-caled to Block) ~ Mn ',,~ 0 NE~ ~~iII=:IffiIm: - '~i\II I ~f": NE<NO --- ,fOfW 1ST /'IE 1ST ~L"'" I CASA"LOJi1A 1~r&W"~ .~ III - . 1,1. SE 1ST I r [I se2NC _J 11 -NW_' II '-rm,"1 ~ i Sl': 1ST Camp 3 _.Boynton 210 S,",: hI A ''mlle ~/1STI ; $W~tI (l. ocat~ l~ Block) ,:/l ~ "'>' ~ S1.V~TH \ SE t:TH SWCT~' 'seeTH. ~ ' 'sw ~ T1-I Lt. 't:~~ '~CSOlll HOP.IZOIt 5T W 'L I'll} if f .J f J ... ~ n j} ., ~ :r o ,;J iJ ~ cocc r Of <( I :z ~ ~94'~ ~Wm~ (1)::1 ~~ :~2:~ 6:mta:a CD : ~ ~ ~g.N: ct. N", o N,. :I z~ ;:; ~n~~ ~ ::t~ ~ :T=, ~= ~ ~ ~ 2 2: ~ .. [ Ul Dr ~ .., ,... ., 1:01 ('")'Tl ~~ Cl>z zo ~ :. zo ~S ~~~ .. :D t-.J loll> ~ ~ tn ~ r o o )> -t o Z s: )> -0 Flood Zone Map Borrower: NORFUS 8. RAMSAY, Latasha 8. Rakerz p~ope~ Address: 222 NW 7th Avenue Ctty: Bo nton Beach Lender: Seaside National Benk & Trust File No,: 09070702 Case No.: NORFUS/RAMSAY State: FL Zip: 33435 (..... r.... (... 1:11. ~ 1;[1, ~. ~ ;S: oS: ~ OS' .:;f NW 41\1 51 ~. ~ ~, ';::2 ~ 'iI ~ .c: .... .- .- ~ ~ :' ~ t:tj~ ~,. .... ..P ~ if !! ~ '9 ~:lii :3N ILl Z seacYei1 tI :>. <. .c: .- ;- .- ~ z. t-.lW"-&d ~n ;tJ :>" < . .c: ~. ~ Z ts. ~. <' .t: ~ ..~. . " Ra@ D &.u u.l Z NE. :a1 ,~ < .c: ,~ uJ Z ~ .( Galaxy .,~ ~ -~_. 6279 Terra Rosa Circle, Boynton Beach, FL 33472 Tel: 561-901-4609 Fax: 561-734-3458 License I Resume Borrower: NORFUS" RAMSAY,lltuhl" Rlklra Property Address: 222 NW 7th Avenue C~V: Boynton Beach Lender: Seulde National Bank 8. Trust h. li.'.' ,.~; ~... ( ~ hi ,-tnH-('(,t1H'Jtd HMich:"I1i1:t! ~JI~\\:.... t HIH"l~32 !i'lnrrd;. [}"'P1lt'(, 1~-'3t1'itlfiji ""1 1'0";.. (;r"'t:RAL [PH',... no' !;'~:> ~ [;;JJ.~.,<I I' ~1<;f;.I;.;.... : ,-,," . I'ROII ~<!O',\I'\I'I'IU..I,A1 r,D11CATI t'WI~d:. }';)i~~..n.j ~~ll1..'1unn.~{J H.I~:" ~";:)lioonl \!5PAr \.Jpdatc EquivalCLt- 2(lllt:w2il. ",I 4-:- 1~;Jll,.i..' norit:b AppmlSCf Sup..."l'\'tsor .! rau"':l' }{ ~~t-G:o'w.~.J.-!! m'l:~hi~" I, i h '\ MO<1g;tgc Imod (K HO"'~l hCil Odtb: MmcOddhalI API"'''''''], l~ l!o,,, \ noridl AlJlTllt~J U'" lJjJdal~ (1 Hlom) ~>1:l~U:riP8 Re.;)1 Esuuc App~' (fLH1:;cn) AG!ll;>' ;';\>1:-:\ N:uiolUd USPA/' 115 Hour!:' N31iooal1JSI'Af' Lpdlll" P II":,, Fc.k'aINatiVle,] Mor;plJ" A.,"';:I1k>:i 'H.",,: ~londl A.'ll"1lisrJ Li~ Lull' I) Euu<1' N~:1 Am1I~'i}:!,;: 1b."St.<il"..'uLi.ll~, t\f"p':n;'JIH:.r." :-111....' F -\ppraml Prhtcipl.:sR~~;d,r.li,,' '~flf,hC:>li"n' (:' i k"r' , S.11es Compan-..on Appro,;lL.'L R~ Aflptklttium ,l ~ flW';j Re,aT Estalc MonrJl~'" ilWf ~In 1,.1\\ Ji HJm~l Afli :rRr.^fll-i~l.';~_~",,';ln~.~ '\l1i:q~:-'.j!C"IW"" -: n.H.. 1.lfT'\SI'S ~ '\S$()('I<\'1'I0" ~t~eh::..t..>tl~!fi:".:d F.{''Std,'llli}' '\lr-'-il-~:: I ';4.11 lit t I, :.',;i' 1.1),,1'" fIl', .\pp'O\.:d '\l-'Pll,AIti.\L 1:.XI'1!:.1U1;l\Cl ~:Y~I? ~,R~tltJ~ k'::'{\{I'7 l--'J(~':''l" (OI'"Tn" ~Ht\'I'.f' F71101 &a:.h COu~~t,. f1nric.' I 'HW. ;jr-;-': {rlllll'~ n....nll; State: FL File No,: 09070702 Case No,: NORFUS/RAMSAY Zip: 33435 i, ,L, :\.,,!I.l,..l. Ii ,-..:; ,.-': t ( \l.:hb)~'" ; '~"lIl1 ...:~J';'v;;.,:).. ;1":.z.ttlJ; ,\t:Klj~ .:-1,.2t~)" \i,'.::h.1ss~)'';'1 11" '",;q<.); \k.i-.1.,.~,,-1 J':J,'.!{t~l:-; till'" ro',<, Fiaf::ulOluJ ft.liooi> - !' .~, UrJid (n.1~1, Pfnfr~:5tOtutl &hoo!s - II '.'~~. I:. t,H,.\i,/ ( (l;l::;'~ i"f,k:\~~~-)ni'tf 5.:1....~lIs j I '~"r':;:; \h"l'Jrl lOi\"i1 PmfCSSK.opJ S:Ii':.'lOt!: _ 1 i"'~\l' i-l F~,':l Rtlf:::n; Sd")(~!::, - ~..~:,,~ ~~:~ ~~~ t~~~;~ ~ ~::~:.:~~ &r: 1~I'5- ~-i1?::h ':H2:ttl": t ler" Rog...:r:io ~:,:+..>>ls l)";:)~ 1 ; Ben ~~Of.:T5 5.cl"1~C"115 ')'}-' ":.~ l.!{lij Cr,,1S. r'r0k-::ST(ij: 11 b'{i,--;," :. '\, l,'~l<l' A,r,i:~i: -~';', bL. r',-jl;-: j'...: 1:1 II r;",:i' !_ I ,I ~r:'" 't-": '1'; I',{'~',:l! r "J t',:, f';-'-::;', I ,i\(; STATE OF FLORfDA nEPAlt'1'MEMj:x.8IdI'UHSdfiTr~DUtiftL~GULATION sea. t.(l810171;~l)O:l MJUooJ!,&O'as?, ~C::B DR pJ 'rh_ ._'n';[Jip"l~ ~ER ...... below tsCbTtnBD ' tIMer tlui pto'Vi~d,oa. Of Ch8lPt.r 475 FS. BJlPiraHcm ~t.1 HOV 3D, 2010 1'~ .IOBBJU' La sa7i"Tbi'i:JltOSAC:LRCLE BOYNTONBEAcH ,,1. 33437 CHA:IlL%E .CJUST .GOftJlNc>Sl D1SPLAY~_~~.L'I~t:l~Y.~W. I I I I I L CHARLES 111. DRAGO S~J:'1'UY 6279 Terra Rosa Clrcla, Boynton Baach, FL 33472 Tel: 561.901-4609 Fax: 561-734-3458 07/01/2009 10: 53 FAX IiiI 0001/0001 .71teCityo~~~ , 100 1!.1ayrml'e.dl1lolievord P.O. _ 310 ~ -.. _ 33425-0310 TI!L: 561-742_ FAX: 561-742-6llll9 .......lIo\,,,to,..-,org June 19. 2009 Latasha Norfus Rakera Ramsey 2730 N W 2nd St Boynton Beach, FL 33435 Re: Income Certification - Dear Ms Norfus and Ms Ramsey: This letter serves to inform you that the City of Boynton Beach State Housing Initiative Partnership (SHIP) office has reviewed and verified your household annual income. According to the information provided. you meet the income eligibility requirements for the SHIP program as established by the Florida Housing Finance Corporation and the City of Boynton Beach SHIP program. You are eligible within the very iow-income category, to receive SHIP funds toward your down payment and closing costs. This award is contingent upon administrative approval and you receiving a commitment from. a first mortgage lender. You will be required to execute a second mortgage and note that has a deferred payment plan due upon sale or transfer of the property. This award letter is valid for a period of 180 days from the date of this letter. Please feel free to contact me with any questions Dr concems regarding this matter. Sincerely, ~ ,B f}. Ctn . Brenda COrnelius Affordable Housing Administrator BJC cc: James HomeJ8BFBCDC S:ICommunllylmp_."""", CertIIk:8lIonoI MASTER PURCHASE,doc ~\ ,- ~f8'~ ~- ~~~~Y~T8~ICRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: June 9, 2009 I X I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Approval of funding up to $50,000 from the Homebuyers Assistance Program to Dallo, Glaiseda and Rene! Bosquet (Pulled Consent Item, June 9, 2009) SUMMARY: At the June 9, 2009 CRA Board meeting, the Board voted to table this item pending the result of a second appraisal. Attached for the Board's review are both appraisals verifying the value of the contract sales price of$199,900 for the unit being purchased. The appraisal values are as follows: Appraisal I - Real Estate Analysts: $210,000 Appraisal 2 - Peyton Appraisals: $205,000 Dallo, Glaiseda and Renel Bosquet are purchasing a single family residence located at 721 NW 2nd Street, the fifth of eight (8) RTG Construction built single family homes which were approved by the CRA Board to receive HAP program funding. The Bosquet household income has been certified as moderate income per HUD 2009 guidelines. Dallo, Glaiseda and Renel Bosquet will execute the CRA HAP documents which require the CRA to share the equity in the event the property is sold within 30 years of closing date. The HAP grant application, as submitted and reviewed, meets the criteria set forth in the approved program guidelines and therefore does not require a wavier of any kind. FISCAL IMPACT: Up to $50,000 from Bond II proceeds. Line Item 58300-473. CRA PLAN, PROGRAM OR PROJECT: Homebuyers Assistance Program RECOMMENDATIONS: Approve up to $50,000 from the Homebuyers Assistance Program budget to assist Dallo, Glaiseda and Renel Bosquet in the purchase of 721 NW 2nd Street, subject to execution of the CRA's mortgage, note and agreement at the closing of the property. ~~~ Michael Simon, Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-09 Meeting\Bosquet HAP-untabled.doc "s-icl@ ~..tl.....l.....~&f,.." Date: Lender: Contact: Phone: Cell: Fax: Buyer(s): Seller: REQUEST FOR SUBSIDY May 30, 2009 Seaside National Bank & Trust 4290 Professional Center Drive, Suite 201 Palm Beach Gardens, FL 33410 Peggy S. Miller (561) 537-4048 (561) 602-9606 (561) 340-1225 Dallo Bosquet & Glaiseda Bosquet Renel Bosquet ZMJ Investments, LLC RTG Construction, Inc. Property Address: 721 W 2nd Street Boynton Beach, FL 33435 Year Built: 2008 Bedrooms: 3 Garage: 1 Square Footage: Bathrooms: 2 1099 Purchase Price: $199,900 Loan Amount $152,523 (Base loan $149,900 + $2,623 MIP) Subsidy Requested $50,000 Household Size: 3 Annual Income: $71,284.80 Income Classification: Moderate Monthly Housing Expense/Front Ratio: $1202.22/23.809% All other Monthly Debt/Back Ratio: $629.00/36.266% IFile No, 095-12345521 Pace #21 Rle No. 095-1234552 A SUMMARY APPRAISAL OF A SINGLE F AMIL Y RESIDENCE LOCA TED AT 721 N.W. 2ND STREET BOYNTON BEACH, FLORIDA 33436 FOR SEASIDE NATIONAL BANK & TRUST 201 S. ORANGE AVENUE #1350 ORLANDO, FL 32801 BY RE ANALYSTS-RESIDENTIAL, LLC. 1881 N.E. 26TH STREET #237 FORT LAUDERDALE, FLORIDA 33305 PHONE: 954.760.7990 Fonn DCVR - 'WInTOTAL' appraisal software by a Ia mode, Inc, -l.80Q-ALAMODE R,E, Analysts - REsidemial, LL' fEUf No, 095-1234552TPalie#31 Summary Appraisal Report 09-1211 Uniform Residential Appraisal Report File # 095-1234552 Tne oUfjlose of this summary apnraisal reoor! Is to provide !he /ender/clent with an aCCUTllte, and adl!lluatelv supported, opinion of the market vaiue of the subject prOrlerty, prooertv Address 721 NW, 2ND STREET cliV BOYNTON BEAC~ State FL Zip Code 33436 - Borrower BOSQUET DAlLO Owner of Public Record ZMJ INVESTMENTi,> h~ _____ _Qpunty.J:ALM BEACH Leaal DescrioVon BOYNTON HillS LOT 184 BLOCK C, ---- . .-"-_.~ ---~-'--_._- --- ~_.- Assessor's Parcel # 08-43-45-21-07-003-1840 TaxYear 200t RE, Taxes $ 835,50' Nelahborhood Name BOYNTON HILLS Map Reference 45.:43-2' Census Tract 0061,00 Occunant n Owner i-I Tenant lX1 Vacant Soeclal Assessments $ 0,00 -,-.. I PUD HOA ~ 1 per vear fJ oer month .. prooertv Riohts Aooraised [8J Fee Slmole r 1 Leasehold fl Other Idescr1bel 'LAND ONLY Asslonment Tvoe fXI Purchase Transaction o RBIlnance Transaction n Other Idescrlbe) -~-_._-_.__._--- -_._-- Lender/Cliem SEASIDE NATIONAl BANK & TRUST Address Is the subject property currently offered for sale or has ~ been offered for sale In the twelve monthSilrior to the effective date of this appralsal~ 2'J Yes ! ] No ReaM data sourcels) used, offerinn nrlcels), and datels\, THE SUBJECT WAS LISTED WITH AN ASKING PRICE OF $199 900 I [::><;J did C.I did not analyze the contract for sale for the SUbject purchase transaction, Explain the resuKs ot tile analysis ot the contract tar sale or why the analysis was nat pertormec. THE SUBJECT IS CURRENTLY UNDER CONTRACT FOR $199,900, THE CONTRACT WAS FULLY EXECUTED ON 4127/2009 : Contract Price $ 199 900 Date of Contract 4/27/2009 Is the orooertY seDer the owner of nubHc record? i2<J Yes [J No Data SourceCs) TAX RECORDS Is there any financial assistance Oaan charges, sale concessions, gift or downpaymem assistance, etc,) to be paid by any party on behalf of the borrower? n Yes [8J No . If Yes, reoart the total dollar amount and deSCribe the ~ems to be paid, NONE NOTED _.._~- ._-----_.._-~.__.__._-----~-~ NoI.: Race Ind the fie/II coliiiiiillikiR 01 the nelohbG Irood Ire not IIIIIIIluI tlClDrl, NtIGhIlolhlllltClliiCiillllca 0nt'\1llIt HOllIIIIa TI'IIIdI OnrUnlt Houelna PItl8lltLlnd U.. % Location r l Urban -rxr Suburban 0 Rural ProDIIIlV Values illncreaslng r l Stable IxlDecnnlng PRICE (~ ~-Unit____~_75 % BulK-Uo IX! OVer 75% f l 25-75% f UIlder 25% DemandlSUllDIv f l ShortaDe f lln Balance fX1 Ovlll' SUDDlv $ /0001 (vrs 2-4 Unk % . Growth r l Raold lXI Stable o Slow MaI1alUno TIme fl Under 3 mths rx'I 3-6 mths llOvIll' 6 mths 40 Low NEW Mulll-Famllv 10 % . Nelohborhood Boundaries THE SUBJECT IS LOCAlED SOUTH OF GATEWAY ROAD NORTH OF 300 Hloh 55 Commercial 5% BOYNTON BEACH BLVD. EAST OF 1-95 AND WEST OF FEDERAL HIGHWAY 60 Pred, 50 Other 10 % Nelohborl1ood Descriotlon See attached addenda, Market Conditions (Includlno supoort for the above conclusions) See attached addenda, Dimensions IRREGULAR Area 5 227 Sa.Ft.. Shaoe RECTANGULAR ~ew RESIDENTIAl Soecijlc Zonll1ll ClasslflcaUon RIA Zonlna Descrlotlon SINGLE FAMILY 'PER TAX RECORDS Zo~no Comolance IXl [ooal TlTeOal NonconformlnolGrandlathered Use) fl No ZonII1Il flllleilailiiescrlbel Is the hlahest and best use of su ' as Improved lor as orooosed oer D/ans and 8pecmcatlonSl the present use? lXf Yes DNa if No, describe UIIIllIlI Public OIlIer (descrtbe) Public OIlIer (descrtbe) Off-sfteImDiilvemenls- Tvoe Public Private Elecilcltv fXI fl Water fXI rl Street ASPHAlT IXl 0 Gas rl San~arv Sewlll' fXI Il AIIev NONE fl -rl FEMA Soeclal Rood Hazard Area n Yes I'XI No FEMAfbod Zone B FEMAMan# 1201960004C FEMA MlIp Date 9130/1982 Are the utllllIes ancl off-sltelmnmv.ments ""'lcal for the market arBa? !XI Yes il No " No, desCribe Are there any adverse s~e concllllons or external factors (easements, encroachments environmental conditions, land uses, etc,l? fl Yes iX'I No ij Yes, describe NO APPARENT ADVERSE EASEMENTS ENCROACHMENTS OR OTHER ADVERSE CONDmONS NOTED, TYPICAL UTiliTIES AND ANY OTHER EASEMENTS OF PUBLIC RECORD, SUBJECT TO SURVEY AS NONE WAS PROVIDED, GtnerII~ FouI\4atIDlI ~~ mailitlilTcondltton IntIrIor "'condIUon UIlfts fXI One f l One with AccessOrY Un~ :xi Concrete Slab n Crawl SDace Foundation Walls CONCRETE/GD Floors CPT TllElNW-GD # of StDrles ONE lFull Basement n Partial Basement Exterior Walls CBS/GD WaDs DRYWAlUNW-GD TVDe IXl Det, [J All, i l S-DetJEnd Un~ BasBl\18nt Area N/A so,ft. Roof Surface METAUGD Trlll\lFlnlsh WOODINW-GD l ExlsUna IX! ProDoself n Uncler Canst, Basement Finish N/A % Gutters & Dovmsnauts NONE Bath Roor CERAMfCINW-GD Deslon ISMe) RANCH TOutslde En1rv/Exlt nSumo Pumo Window TVlle IMPACT/GD Bath Walnscot CERAMICINW-GD Year Bultt 2009 Evidence of illnfestatlon NONE NO Storm SasMnsulated INSULATED Car Storaae I-l None Effective Ace Msl NEW l Damoness n Settfement Screens YES IX! Drlvewav # of Cars 1 Alllc None Heatlnc LXI FWA II. I HWBB II I Radiant AmenlUes Woodstove(s) # DriVBwav Surface ASPHALT 1 Droo Stair Stairs l Other I Fuel ELECTRIC l Rreolacels \ # Fence IX] Garaae # of Cars 1 CAR G, l Floor ScutUe CooHno R1 Central AIr Condltion/nc R1 PatIO/Deck Porch l Camor! #ofCars l Anlshed Heated llndlvldual In Other l Pool Other IX1 All, nDet, o BlA~-ln AllDiances IXl RefrineratDr 5<1 Ranoll/Oven ~ Dishwasher IX[ Dlsoosal IX1 Microwave IX1 Washer/OlVer 0 Other idescrlbel Anfshed area above orade contains: 6 Rooms 3 Bedrooms 2 Bam 1 099 Souare Feet of Grass Livlno Area Above Grade Additional features (soeclal 80emv efficient ~ems etc.\. METAL ROOF IMPACT WINDOWS AND GRANITE COUNTERS, _. : Describe the condltlon of theDriiDeliVTincludliiii needed reoalrs, detlllforation renovations, remodelnn etc~\, THE SUBJECT WILL BE IN OVERAll NEW/GOOD CONDITION FOR AREA UPON COMPLETION, NO FUNCTIONAl OR EXTERNAl OBSOlECENCE WAS NOTED UPON INSPECTION, ESTIMATED REMAINING ECOMONIC liFE = 60 YEARS, THE SUBJECT CONFORMS TO MINIMUM FHA STANDARDS, .- Are there any Dhvslcal deficiencies or adverse ccndlUons that affect the IvablRtv, soundness, or stnJcturallnt""rltv of the oronertv? n Yes IX] No If Yes, describe -----------~.~-- --. - Does the oraoertv oenerallV conform to the nelahbarl10ad (functional utllltv, stvle, candftlan, use, construction, etc, \? [SJ Yes 0 No ff No, describe Freddie Mac Form 70 March 2005 Page 1 of 6 Fannie Mae Form 1004 March 2005 Form 1004 - "WinTOTAL" appraisal software by a la mode, Inc, -1-800-ALAMODE IFile No, 095-12345521 Paoe #41 m orm aSI an 18 ~DDraIS8 aDort Fie # 095-1234552 Tnere are 45 como arable orooertles clllmll oIfnd lor sale In the subIecI neloN1orhood ranolno In arlce from $ 39 900 to $ 399 900 There are 17 comoarable sallls In the sublec nelohborhood wI1hIn IHI oast lwIM monIhs ranolno In sale once from $ 40 000 to $ 280 000 FEATURE I SUBJECT COMPAAABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 721 NW. 2ND STREET 709 N.W, 2ND STREET 603 N, SEACREST BLVD, 220 SW, 1ST AVENUE. BOYNTON BEACH FL 33436 BOYNTON BEACH FL BOYNTON BEACH FL BOYNTON BEACH FL Proximllv to Subject 0.02 milea S 0,21 mUes SE 0,47 miles S sate Price $ 199900 1$ 223 000 $ 208.831 1$ 199900 Sale Price/Gross Uv, Area $ 181,89 sO.ft. $ 168.17 sn,ft. $ 159,66 sn,ft,l $ 106,84 so,ft,1 Data Source/s 1 ISC/MLSJAGENT ISC/BUILDER ISC/MLS/AGENT Verification Sourcelsl MINDY WOOSTER MINDY WOOSTER BUBIL TILSON VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +/-) $ Ad)us1ment DESCRIPTION + H $ Adjustment DESCRIPTION +t-1 $ AdjJstms1t Sales or Ananclng CONVENTlONA CONVENTIONA CONVENTlONA Concessions NO CONCESSlt NO CONCESSlt NO CONCESSlt Date of Sale!Time 2/09-CLOSED 12/08-CLOSED -10441 4/09-CLOSED Location BOYNTON BC BOYNTON BC BOYNTON BC BOYNTON BC Leaseholdtfee Slmnle Fee Simnle FEE FEE FEE Site 5 227 Sn,Ft.. 4791SF} 5 663 SF \ 6500 SF \ \/Iew RESIDENTIAL RESIDENTIAL BUSY STREET +20 000 RESIDENTIAL Desion /Stvlel RANCH RANCH RANCH RANCH Qualllv of ConstrucUon AVG/GOOD AVG/GOOD AVG/GOOD AVG/GOOD Actual Ane 2009 EFF-Ol 2008 EFF-O} 2008 EFF-O\ 1935 EFF-15\ Cond~lon NEW/GOODl NEW/GooDl NEW/GOOD\ GOOD\ +44 100 Above Grade Teal TBdrmsl BaII1s TlQIlBttms,1 Bills Total I Bdrms,I Baths Teal I Bdrms.l BaII1s Room Count 6-1 3 I 2 7 I 3 I 2 6 I 3 I 2 6 T 3 T 2,5 -2 000 Gross Uvlno Area 1 099 so,ft, 1,326 so.ft, -11350 1 308 So.ft. -10450 1871 sq.ft, -38 600 Basement & Anlshed N/A NO BASEMENT NO BASEMENT NO BASEMENT Rooms Billow Grade Functional UlItv ADEQUATE ADEQUATE ADEQUATE ADEQUATE oIno CENTRAL CENTRAl CENTRAl CENTRAl III ErMrov Efficient ~II1lS TYPICAL TYPICAL TYPICAL TYPICAL III GaraaelCamat 1-GARAGE 1-GARAGE 1-GARAGE 2-GARAGE -10000 Porc!llPatlollleck ENTRY PORCH ENTRY PORCH ENTRY PORCH ENTRY PORCH EXTRAS & UPG GD, EXTRAS GD.EXTRAS GD.EXTRAS AVG,EXTRAS +5 000 POOlA'ATlO PATIO PATIO PATIO PATIO DAYS ON MARKET 40 DAYS 120 DAYS 308 DAYS Net Adlustment /Tolan rl + !Xl. $ -11350 r1 + I'XI- $ -891 n+ I'XI. $ -1 500 Adjusted Sale Price Net Adj, 5,1 'I(, Net Adl, 0,4 'I(, Net Ad), 0,8 'I(, of COllll3rables Gross Adl. 5.1 'I(, $ 211850 Gross Adl. 19.6 'I(, $ 207 940 Gross Adl. 49.9 'I(, $ 198400 I IXI did I I did not research the sale or transfer historv of the subJect property and cllll1llll'llll sales. n not, exnlaln _ Mv research XI did r 1 did not reveal any onor sales or lranslers 01 the sublect DIODertv for the1lree van onor to the e1fec1lve date of this annralsal. _ Data Source/s TAX RECORDS _ Mv research XI did r 1 did not reveal anVili10r sies or lransfers 01 the comoarable sales lor the vear or1or to the dat1l of sale of the collllarable sale, _Data Source/s TAX RECORDS _ Reoort the resulls of the research and anoiVOIs of the orIor sale or transfer hlstorv of the sublect orooertv and c IIIIlIIrable sales I""'ort additional nnor sales on O""e 3\. ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3 Date of PrIor Sale/fransler 7/2008 7108 NONE NOTED NONE NOTED PrIce of PrIor Sale!Transler "80 000 $480 000 Data Source(s} FARES FARES FARES FARES Effective Date of Data Source/s1 5/2009 512009 512009 512009 AnBlvsls of orlor sale or lranster h1storv 01 the slbiect nl1lllerlv and cOllllarablB sales THE PRIOR SALE OF THE SUBJECT WAS PART OF A LAND PURCHASE OF EIGHT HOME SITES, SALE #1 WAS ALSO PART OF THIS BULK PURCHASE, SUmrnarv of Sales COlllllarlson Annmach MOST WEIGHT IS PLACED ON COMPARABLE #1 AS IT IS A RECENT SALE OF A HOME SIMILAR IN UPGRADES AND BEDROOMlBATHROOM COUNT. SALE #2 IS A RECENT SALE OF A HOME INFERIOR IN VIEW. SALE #3 IS SUPERIOR IN LNlNG ARI=A. HOWEVER INFERIOR IN AGElCONDmON. SALE #3 WAS AN OLDI=R HOME THAT HAD BEEN RENOVATED, SALE #3 HAS A HIGH GROSS ADJUSTMENT DUE TO ITS INFERIOR AGElCONDmON AND SUPERIOR SIZE HOWEVER IS UTILIZED AS IT IS A RECENT SALE CLOSE IN PROXIMITY TO THE SUBJECT HOME. THESE ARE THE BEST AND MOST RECENT SALES THAT THE MARKET HAS TO OFFER, SALE #2 IS LOCATED ON SEACREST BOULEVARD WHICH IS A VERY BUSY STREET AND WARRANTS AN ADJUSTMENT, THE SUBJECT IS LOCATED ON A OUIET INTERIOR STREET, THE OLDER RENOVATED HOMES WARRANT AN AGE ADJUSTMENT AS THEY ARE NOT NEW CONSTRUCTION. IndIcDl \/aU bv Saes C.II!IIlInson Annrnech $ 210 000 indicated Va bY: Salts S 210000 Colt AIIDnIIch (If dMIoDed) S 238 100 Income ADmoIch (n dlVlllaDld) $ MOST WEIGHT IS GIVEN TO THE MARKET DATA APPROACH WHICH BEST DEPICTS THE ACTIONS OF BUYERS AND SELLERS IN THE MARKETPLACE. THE COST APPROACH IS SUPPORTIVE. THE INCOME APPROACH W/>S NOT USED DUE TO A LACK OF RELIABLE RENTAL DATA TO ESTABLISH AN ACCURATE G.R.M, This appraisal Is made 0 'as Is', ~ subject 10 Complellon per plans and spectflcatlons on the basis of a hypothetical condlUon that the impro'lllll1lll'lls have been completed, 0 sldJjBCt to the loIowlng repairs or abratIons on the basis 01 a hypothetical condlUOlI that the repairs or a~era1lons have been co~leted, or 0 subject to the fol1ll.-rllG\ired insoectlon based on the IDCtraOnllnarv assumotlon that the condlUon or deflcl8IICV does not reoulre alteration or renalr: SEE ATTACHED LIMITING CONDmONS AND THE ADDENDUM. 8uId on a compIlIl vI..al =on of thl InIIrIor ancI utIrIor a_ of thl lubJICl ~ dlllned ICOfII of ~ IlIl11n.... of uaumptlonl end IIm~lng conditione, end Ipprel"'1 on, my (our) opinion of thl mlrket value, II dlflrild. of 11II propeity thlt Ie he subject of thll rwjIort II S 210000 U of MAY 14 2009 which II !hi dIIe of liuecuon end the 8lf1Cllvl date of this an...-il, U 'f R 'd t'IA IR 09-1211 Freddie Mac Fonn 70 March 2005 Page 2 of 6 Fannie Mae Fonn 1004 March 2005 Fonn 1004 - "WInTOTAL' appraisal soflware by a la mode, Ine, -l-80D-ALAMODE IFile No, 095-12345521 Pace #51 -- ~._-_.._--------- ~. -'-- -_.~--._--_._- -- ~- ---~--~- ---- -_.._-_.~._-~---- --'-~""-'~----- ----.---- - "---.-.--.. --~------- -- -~---~-- -----~- --~-. ------------ ------.----- --_._-,..~--_..__.- _.,-~._-~~_._---_. ---------- ------~----~~ - --- -'---'---'~~-- -'-~-'-----"-~-'~-----~- --- . . -~~------~-~------- . . -_._---~ - ------ - -~._-_.~-- --~----------~---- ~--- --- -~-~~~.~- ---------- ---- COSTAPPfIOMlHTOVALU! FIllllIe Mae) ProYlde adllOuale Infonnatlon lor the Iender/clenl to I1lIlIIcaIe 1he bebw cost fiaUres and calculallons. SUDllort lor the opinion of site valUtl (SUlll1tl1V of clllllllarable land sales or other mBlhods for estlmatlno she value\ DUE TO A LACK OF VACPJolT LAND SAlES THE SUBJECT'S LAND VAlUE WAS DERIVED VIA MARKET ABSTRACTION, -- ESTIMATED [XJ REPRDDUCTllW OR n REPLACEMENT COST NEW OPINION OF SITE VALUE _m. ..__n__n..~.____ __n...... .._.uo -- =$ 75 000 - Source of cost dati BUILDERlMARSHAlL & SWIFT DWELLING 1 099 So,Ft. @ $ 125,00 __ m_". =$ 137 375 iii 0UaIltv ratllIlI from cost service A VG Effective date of cost data 5/2009 N/A 5o.Ft. @ $ ....... .- =$ Conments llI1 CostAiiiiiiiichlrlross Ilvtna area Calc~atlons, dBllreclation, etc,) APPLIPJolCES PJolD EXTRAS CV "un__ _ =$ 5000 SEE ATIACHED SKETCH FOR AREA Gar8ll&/Carnort 229 So.Ft. (ci) $ 25,00 n__"_ Un =$ 5725 CAlCULATIONS. LAND TO VAlUE RATIO IS Total Estimate of Cost-New =$ 148100 TYPICAl FOR THE AREA AND DOES NOT HAVE AN Less PliVSical TFunctlonal I ElIlemal - ADVERSE AFFECT, DUE TO THE LACK OF VACPJolT DeDreclatfon r I =$( LAND SAlES IN THE SUBJECT'S MARKET AREA DenreclatBd CDsl of Irmrovements =$ 148100 LAND VAlUE HAS BEEN DETERMINED THROUGH 'As-Is' Value of Site IrI1lrovements --- mUmnm -, =$-~ MARKET ABSTRACTION. COST FIGURES WERE EstlmatBd Remalnlno Economic LMe fIlUO and VA onM 60 Years INlICATED VALUUY (XIST APPIIOACH __n__ __._ n_n_._nn_________ ----$ 238 100 INCOIIEAPPlIOACHTO VAtU _-Ilid",.ilrilIMHl Estimated MlIlIWv Mmt Rent $ N/A X Gross Rent MuIIlDller N/A =$ Indlcaled Value bv Income Aooroach SummarY of Income liWOach-iiftcludiiVl sunnort tor mart<et 1'111\ and GRM) PIIO.lECI"INFORIfA1ION;FOFIPllDalll~ Is the dB'/Blooert1xilder In coltlol oflhe Homeowners' Association (HOA)? n Yes rl No UnlttvneiSlT l Detached mn Attached ProYldelhe followlno Information for PUDe ONt. Y n the develooer/buffder Is In control of the HOA and the sublecforooertV /s an attached dwellna unit, n lBOal Name of prolect . TotaIllJmber of chases Total number Dr unhs Total number of units sold Tolal numb8/' of units rBIIllld Total number 01 unlIs for sale Data sourc8lsl -~- Was the project created bv the convlll1lll11 Of BJds1Inn bulldlna(1I11rrto a PUD? rl Yes l No If Yes, dale of conversion. :. Does the oroIect contain anv d-dwellno 1II11s? r '1 Yes n No Data Source Are 1he units, cOfl1J1On BIements, and recreatfon facllllles comolele? il Yes r l No If No, describe Ihe status of cOiliDietlDn, . -- Are the convnon B1emenls leased 10 or bv Ihe Homeowners' Association? r l Yes n No If Yes describe the rentallerms and ollllons, Describe common BJements and recrBallonal faclHties, --~-- Uniform Residential Appraisal Report 09-1211 FUe # 095-1 234552 Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005 Form 1004 - "W1nTOTAL" appraisal software by a la mode, ine, - 1.800.ALAMODE IFile No, 095-12345521 Paoe #61 Uniform Residential Appraisal Report 09-1211 Fie" 095-1234552 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; Including a unit in a planned unit development (PUD), This report form Is not designed to report an appraisal of a manufactured home or a unit In a condominium or cooperative project. This appraisal report Is subject to the following scope of work, Intended use, Intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the Intended use, Intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to Include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual Inspection of the Interior and exterior areas of the subject property, (2) Inspect the neighborhood, (3) Inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable publiC and/or private sources, and (5) report his or her analysis, opinions, and conclusions In this appraisal report. INTENDED USE: The Intended use of this appraisal report Is for the lender/client to evaluate the property that Is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The Intended user of this appraisal report Is the lender/client. DEFINITION OF 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 each acting In what he or she considers his or her own best Interest; (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. * Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law In a market area; these costs are readily Identifiable since the seller pays these costs In virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party Institutional lender that Is not already Involved In the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the finanCing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDmONS: The appraiser's certification In this report Is subject to the following assumptions and limiting conditions: 1, The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to It, except for Information that he or she became aware of during the research Involved In performing this appraisal. The appraiser assumes that the title Is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch In this appraisal report to show the approximate dimensions of the Improvements. The sketch Is Included only to assist the reader In visualizing the property and understanding the appraiser's determination of Its size. 3, The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted In this appraisal report whether any portion of the subject site Is located In an Identified Special Flood Hazard Area. Because the appraiser Is not a surveyor, he or she makes no guarantees, express or Implied, regarding this determination. 4, The appraiser will not give testimony or appear In court because he or she made an appraisal of the property In question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5, The appraiser has noted In this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the Inspection of the subject property or that he or she became aware of during the research Involved In performing the appraisal. Unless otherwise stated In this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc,) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or Implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser Is not an expert In the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is SUbject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed In a profeSSional manner. Freddie Mac FOnT! 70 March 2005 Page 4 of 6 Fannie Mae FOnT! 1004 March 2005 Form 1004 - 'WInTOTAL' appraisal software by a la made, Inc, -1-llOO-ALAMODE ~-12345521 Pane #71 Uniform Residential Appraisal Report 09.1211 FUel 095-1234552 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees tha: 1, I have, at a minimum, developed and reported this appraisal In accordance with the scope of work requirements stated in this appraisal report, 2, I performed a complete visual inspection of the interior and exterior areas of the subject property, I reported the condition of the improvements In factual, specifIc terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural Integrity of the property 3, I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promUlgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared, 4, I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certffy that I considered the cost and income approaches to value but did not develop them, unless otherwise Indicated in this report, 5, I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated In this report, 6, I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report, 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property, 8, I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land, 9, I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales, 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11, I have knowledge and experience In appraising this type of property in this market area, 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area In which the property is located. 13, I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subJect neighborhood, subJect property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the Inspection of the subject property or that I became aware of during the research Involved In performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property, 15, I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16, I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptIons and limiting conditions In this appraisal report, 17, I have no present or prospective Interest in the property that is the subject of this report, and I have no present or prospective personal Interest or bias with respect to the partfclpants In the transaction. I did not base, either partfally or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law, 18, My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction In value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a speCific SUbsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or Individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such Indlvldual(s) and disclosed the specific tasks performed In this appraisal report. I certify that any individual so named is qualified to perform the tasks, I have not authorized anyone to make a change to any Item in this appraisal report; therefore, any change made to this appraisal Is unauthorized and I wili take no responsibility for it. 20, I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report, Freddie Mac FORn 70 March 2005 Page 50f6 Fannie Mae FORn 1004 March 2005 Form 1004 - "W1nTOTAL" appraisal software by a la mode, Inc, - 1-BOO-ALAMODE IRle No 095-12345521 Pane #81 Uniform Residential A 09-1211 fie'" 095-1234552 21, The lender/client may disclose or distribute this appraisal report to: the borrower: another lender at the request of the borrower; the mortgagee or Its successors and assigns; mortgage insurers: govemment sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or Instrumentality of the United States: and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (If applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/Client may be sublect to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me, 23, The borrower, another lender at the request of the borrower, the mortgagee or Its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that Involves anyone or more of these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined In applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as If a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any Intentional or negligent mlsrepresentatlon(s) contained in this appraisal report may result In civil liability and/or criminal penalties Including, but not limited to, fine or Imprisonment or both under the prOVisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTlACATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2, I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser Identified In this appraisal report Is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), Is qualified to perform this appraisal, and Is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined In applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as If a paper version of this appraisal report were delivered containing my original hand written signature. SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name M. S Company Name RIE ANAL YSTS-RESIDE LLC, Company Address 1881 N.E. 26TH STREET#237 Signature Name Company Name Company Address Telephone Number (954)760-7990 Emall Address MSDOOLEYCllREANALYSTS.COM Date of Signature and Report J\Il8 26. 2009 Effective Date of Appraisal MAY 14. 2009 State Certification # RD 0002464 or State License # or Other (describe) State # State FL Expiration Date of Certification or License 11/3012010 Telephone Number Emall Address Date of Signature State Certification # or State License # State Expiration Date of Certification or License ADDRESS OF PROPERTY APPRAISED 721 N.W, 2ND STREET BOYNTON BEACH, FL 33436 APPRAISED VALUE OF SUBJECT PROPERTY $ 210.000 LENDER/CLIENT Name Company Name SEASIDE NATIONAL BANK & TRUST Company Address SUBJECT PROPERTY o Old not Inspect subject property o Old Inspect exterior of subject property from street Date of Inspection o Old Inspect Interior and exterior of subject property Date of Inspection COMPARABLE SALES Emall Address o Did not Inspect exterior of comparable sales from street o Old Inspect exterior of comparable sales from street Date of Inspection Freddie Mac Fonn 70 March 2005 Page 6 of 6 Fannie Mae Fonn 1004 March 2005 Form 1004 - 'W!nTOTAl' appraisal software by a la mode, Inc, -1-80Q-ALAMODE IFile No, 095-12345521 PaGe #91 m arm aSI anla Dpralsa aport File # 095-1234552 FEATURE I SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE # 5 COMPARABLE SALE #6 Address 721 N,W, 2ND STREET 717 NW, 2ND STREET 713 NW, 2ND STREE-:- 405 SW, 1ST AVENUE, BOYNTON BEACH FL 33436 BOYNTON BEACH FL BOYNTON BEACH, FL BOYNTON BEACH, FL Proxlmitv to Subject Less than 0,01 miles 0,01 mile, 0.47 miles S Sale PriCE $ 199,900 1$ 235 000 IS - 223,000 1$ 185 000 Sale Price/Gross Liv, Area $ 181,89 sQ,tt, $ 146,05 Sa:"ttJ $ 168,17 sq,n S 143,52 sq,ft,1 Data Source(s: ISC/MLS/SELLER .-- ISC/MLSI~Lli::E. -~ ISCIMLSIAGENT Verification Sourcels' ZMJ INVESTMENTS SELLEF; SHARON ARNETT VALUE A[)JUSTMENTS DESCRIPTION DESCRIPTION + T-f $ Ad)us1ment DESCRIPTION +(-) $ Adjustment DESCRIPTION I +1-\ $ Adjustment Sales or Rnancinr PENDING ACTIVE LIST FHA ConcessionE ! CONCESSIN -9600 Date of SaJIl/TJme PENDING ACTIVE LIST .- - 5109-CLOSED ._-~..._- Local/or, BOYNTON BC BOYNTON BC BOYNTON Be BOYNTON BC Leasehold/Fee S/mole Fee Simole FEE FEE FEE SitE 5227 So,Ff.* 5 227 SF \ 5 227 SF \ 15 400 SF \ -- Viel', RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL ,_ Design (Style) RANCH RANCH RANCH RANCH -r-----____ . Qualttv of Construction AVG/GOOD AVG/GOOD AVG/GOOD AVG/GOOD : Actual Age 2009 EFF-OI 2008 EFF-Ol 2009 EFF-Ol 1940 EFF-15) -. . Condition NEW/GOOD) NEW/GOOC)) NEW/GOODl ~_.. GOOD) +44 100 . Above Grade TolallBdrms,1 Baths TolallBmns,1 Baths ToIal ISdrms.1 Baths Total I Bdrms, I Baths Room coum 6 I 3 I 2 7 I 3 12,5 -2500 7 r 3 I 2 6 3 I 2 , _ Gross Livino Area 1 099 sq,ft, 1 609 sq,ft, -25 500 1326 sQ,fj, -11350 1 289 sq,ft,i -~ Basement & Rnlshed NIA NO BASEMENT NO BASEMENT NO BASEMENT! Rooms Below Grade functional Utiiltv ADEQUATE ADEQUATE ADEQUATE ADEQUATE - Heatlno/Coollna CENTRAL CENTRAL CENTRAL CENTRAL Energy Efficient ttems TYPICAL TYPICAL TYPICAL TYPICAL Garage/Carport 1-GARAGE 1-GARAGE 1-GARAGE 1-GARAGE PorchIPatJO/DBck ENTRY PORCH ENTRY PORCH ENTRY PORCH ENTRY PORCH EXlRAS & UPG GD. EXTRAS GD,EXTRAS GD,EXTRAS GD,EXTRAS --- POOlIPATlO PATIO PATIO PATIO PATIO DAYS ON MARKET -r--- -- 120 DAYS 120 DAYS 112 DAYS I Net Adlustment (Totan D+~t --~J1Q 0+ i'2J. $ -Jl~O ...J8l.t.D - _ L _~QQO Adjusted Sale Price NetAdj, 11,9 % Net AlIj, -5:1%- Net Adj, 13.5 % of Comoarables Gross Ad!. 11,9 % $ 207 000 Gross AlIi. 5,1 % $ 211650 Gross Adi. 34,2 % $ 210000 Reoort the results of the research and analysis of the rior sale or transfer hIStOrY of lIIe subi8ct rooertv and c omoarable sales lmoort addttlonai OMr sales on Daoe 3), ITEM SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE # 5 COMPARABLE SALE # 6 Date of PrIor SalefTransfer 7/2008 7/2008 7/2008 NONE NOTED Price of Prior SalelTransfer 1$480000 U80 000 U80 000 :. Data Sourcels \ FARES FARES FARES FARES Effective Date of Data Source(sl 5/2009 512009 5/2009 5/2009 AnalYsis of Drior sale or transfer history of the subject prooertv and ciiiiiDarable sales COMPARABLE #5 AND COMPARABLE #6 ARE PENDING SALES OF . HOMES DEVELOPED BYTHE SAME DEVELOPER OF THE SUBJECT HOME, THESE SALES ARE GOOD INDICATORS OF VALUE, - ------- --..- ----- - ----- ---,.----.- - --------- - ----~---~--- AnalyslS/Commentl; SALE #4 IS A PENDING SALE OF A HOME SIMIlAR IN LOCATION HOWEVER SUPERIOR IN SIZE, COMPARABLE #5 IS AN ACTIVE LISTING CLOSE IN PROXMITY TO THE SUBJECT. THE APPRAISER WOULD LIKE TO NOTE THAT AN ADJUSTMENT IS NOT WARRANTED FOR THE PENDING SALE AS THIS IS THE ACTUAL PENDING SALES PRICE CONTRACTED FOR THE PROPERTY. A LIST TO SALE AMOUNT IS NOT GIVEN FOR COMPARABLE #5 N3 THESE NEW HOMES ARE TYPICALLY SELLING FOR FULL PRICE, SALE #6 IS A RECENT SALE OF AN OLDER RENOVATED HOME, THIS HOME WN3 BUILTIN 1940 AND WARRANTS AN ADJUSTMENT FOR AGE, THIS SALE IS SLIGHTLY lARGER THAN THE SUBJECT HOWEVER ENJOYS MANY OF THE SAME UPGRADES N3 THE SUBJECT HOME, THIS SALE IS AN EXCELLENT INDICATOR OF VALUE, ------~-- . ------ ~-- "---,,-- ~ ~_._---_.._~- -' -- -- --.-- ~-~ -.- -- ,--.- .-- - -. ~- _.- -- .._--_.._-~,--~ .~----~------ ~-~_. -- ._..----_.._-~--- -'-~~ - .-- - U 'f R .d r IA IR 09-1211 FreddIe Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Form 1004,(AC) - 'WlnTOTAL" appraisal software by a la mode, Inc, -1-80Q-ALAMODE IFile No, 095-1234552/ Paoe #101 FEATURE 1 SUBJECT Address 721 NW, 2ND STREET BOYNTON BEACH FL 33436 Proidnitv to Subject 1 Sale Price 1$ Sale PrIce/Gross L1v, Area $ Data Source(s \ Verification Sourcelsl VALUE ADJUSTMENTS Sales or Anancing Concessions Date of SalelTime Location LeasehddlFee Simple Site VIew Deslon (Stvlel 1 QuaItv of Construction Actual AIle Condition Above Grade Room Count Gross L1v1na Area Besement & Anlshed Rooms Below Grade fIInc1lonal UIIUIY ADEQUATE ADEQUATE ADEQUATE Heatll1lI!Codlna CENTRAL CENTRAL CENTRAL ElIS'Ov Efflcllll1l ftlllT1S lYPlCAL lYPlCAL TYPICAL I Garaoe/Caroort 1-GARAGE l-GARAGE l-GARAGE Porc:M'allWlleck ENTRY PORCH EN1RY PORCH ENTRY PORCH EXTRAS & UPG GD. EXTRAS AVG.EXTRAS +5000 GD.EXTRAS POOUPATlO PATIO S,PATlO -1 000 PATIO DAYS ON MARKET 62 DAYS 234 DAYS Net Adlustmlll1llTotall IX! + 1 I. $ 28 000 U + IX!. $ -21 600 r + D. $ ~ed Sale P~ce Net Adj. 15.2 % Net Adj. 9,5 % Net Ad), % of COII1IIarabIes Gross Adl. 38.2 " $ 212000 Gross Adl. 31.2 % $ 205 900 Gross Adi, % $ Report the reslfts of the research and analysis of the rtor sale or transfer history of the subject rollllrty and comparable sallIS (report additional p~or sales on Pi e 3), ITEM SUBJECT COMPARABLE SALE (17 COMPARABLE SALE (I 8 COMPARABLE SALE (I 9 Da18 of PrIor Sale/Transfer 7/2008 NONE NOTED NONE NOTED PrIce of PrIor Sale/Transfer I S480.000 Data SoIJC8(s) FARES FARES Effective Dale of Data Source(sl 5/2009 512009 AnalysIs of prior sale or transfer hlstorv of the slillllCt DroDertv and comoarable sales Uniform Residential Appraisal Report COMPARABLE SALE (17 COMPARABLE SALE (18 716 S,W, 1ST AVENUE 800 W. OCEAN AVENUE BOYNTON BEACH FL BOYNTON BEACH FL 0,83 mites SW 0.84 miles SW ' 199900 1$ 184 000 1$ 227,5001 181,89 sO.ft, $ 138.24 so,ft,1 $ 144.90 SO.ft. I. ISC/MLS/AGENT ISCIMlS/AGENT i lHOMAS WALSH lHOMAS DEROSA ; DESCRIPTION +/-l $ AdIustmlll1l DESCRIPTION +/-l $ Adjustment I FHA CONVENTlOAL CONCESSIN -8 500 NO CONCESS 6/0ll-CLOSED 7/OB-CLOSED BOYNTON BC BOYNTON BC BOYNTON BC Fee SimDIe FEE FEE 5227 So,Ft' 7841 SF l 5663 SF l RESIDENTIAL RESIDENTIAL RESID/N,STR RANCH RANCH RANCH AVG/GOOD AVG/GOOD AVG/GOOD 2009 EFF-Ol 1994 EFF-15} 2003 EFF-51 NEW/GOOD} GOOD} +44100 GOOD} TcUlIBdrrns,1 BaIhs TcUlIBdrms.1 Balhs TcUllBdrms,1 BaIhs 6131261312 61312 1 099 SQ,ft, 1 331 SQ,ft, -11 600 1 570 SlI,ft, NO BASEMENT NO BASEMENT 09-1211 File # 095-1234552 1 COMPARABLE SALE #9 1$ SO.ft, I DESCRIPTION DESCRIPTION +H $ Adiustment -22 750 +10000 +14700 Total 1 Bdrms, I Baths I 1 sQ.ft, -23 550 N/A FARES 5/2009 NONE NOTED IN lHE PAST YEAR. AnalysiS/Comments SALE #7 IS A RECENT SALE OF A HOME INFERIOR IN AGE. lHlS HOME IS SUPERIOR IN LIVING AREA. SALE #8 IS A DATED SALE OF A LARGER HOME, lHlS HOME IS INFERIOR IN AGE HOWEVER IS A NEWER HOME FOR lHlS MARKET AREA. lHlS HOME IS SIMILAR IN UPGRADES. lHE APPRAISER WOULD LIKE TO NOTE lHAT lHlS HOME IS LOCATED ON A NEIGHBORHOOD lHROUGH STREET WHICH CREATES EXTERNAL OBSOLESCENCE. lHlS SALE IS A DATED SALE IN EXCESS OF SIX MONTHS WHICH WARRANTS AN ADJUSTMENT DUE TO lHE CURRENTLY DECLINING MARKET, SALE #7 HAS CLOSED SINCE lHE EFFECTIVE DATE OF lHE APPRAISAL HOWEVER IS UTILIZED AS IT IS A VERY RECENT SALE IN lHE SUBJEC"I'S MARKET AREA. Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Form 1004,(AC) - 'WlnTOTAL' appraisal software by a la mode, Inc, -l.80D-ALAMODE 1Fi1BND.095-f234552fPaiie-ili 09121 ' Market Conditions Addendum to the Appraisal Report File No. 095-123455: The purpose of this addenrlum 15 to provide the lender/client with a clear and accurate understanding of the market trends and conrlltlons prevalent In the sUbjec: nelohborf1ood, this 15 a required addenrlum for a/I aoora/sal reoorts wllh an BfIective date on or after April 1 , 2009, ProPertv Address 721 NW, 2ND STREET City BOYNTON BEACH State FL ZIP Code 3343c Borrower BOSQUET DALLO ----- --- lnItlUCtlons: The appraiser must use the information required on this form as the basis for hls/her conclusions, and must provide support for those conclusions, regardlO[ housing trends and overall market condllions as reported In the Neighborhood section of the appraisal report form, The appraiser must flllln all the Information to the exten~ n Is available and reliable and must provide analysis as indicated below, II any required data is unava/lable or 15 cans/dered unreliable, the aPllraiser must proVide ar explanation, n Is recognized that not all data sources will be able to provide data for the shaded areas below: If n Is available, however, the appraiser must include the dati In the analysis, II data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify It as an average, Sales anrl Ilsllngs must be properties that compete wllh the subject property, detefl71ined by applying the crlterla that would be used by a prospective buver oj th.' sublect DroDertv. The aDDralser must elllllain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc, Prior 7-12 Months Prlor 4-6 Momhs Current - 3 Momhs Overa/lTrend Total # of Comoarable Sales (Settled) 6 4 7 Increasing Stable Absorotlon Rate lTotaI SalesJMomhs) 1.0 1.3 2,3 Increasing Stable Total" of Comodle Active Ustinos '4S Decllnlno Stable Malths of Houslno SUDDIv lTotalUstinos/Ab,Rate) '19.6 Decllrjng Stable IIlIcIan SIIe. LIlt PI!ce, Dell. SaIe/L1&t % Prior 7-12 Months Prlor 4-6 Momhs Current - 3 Momhs Overall Trend MedIan Cornl Die Sale Price 107 000 63 000 58 000 Increaslno Stable Declinino Median Comt Die Sales Days Dn Market 73 57 19 X Declin1no Stable Increasino Median CDII1II arable Ust Price ' , 130 000 Incrnslna Stable Decllnino Median Com arable Ustinos Days on Market ' , 100 Declln1no Stable Increasino Median Sale Prlce as % of List Price 32 79 93 Increasing Stable Decllnlno : Seller.IdMloDer, bWlder: etc./pald flnanclal assistance Drevalent? IX1 Yes [J No Declining Stable Increasing Explain In detail the seller concessions trends for the past 12 months (e,g" seller contrlbutions Increased from 3% to 5%, Increasing use of buydowns, Closing costs, condo . fees, options, etc,), 'THESE FIELDS CAN NOT BE COMPLETED AS MLS IS A REAL TIME DATA BASE. THE SUBJECT MARKET /S IN DECLINE AS IS EVIDENCED BY GREATER SUPPLY THAN DEMAND, ~-~--~-- ---- - ---- --~ . I><J Declining : J Declining increasing I o Increasing I ---~~ - .-- --'."~~._- ---"~--'-~-_..~~---.. ~---~- . Are foreclosure sales IRED sales} a factor In the market? IXI Yes r-l No If ves, exalaln ancludlilll the trends In Istlnos and sales of foreclosed properties), THE SUBJECTS MARKET HAS SOME FORECLOSURE AND SHORT SAlES, FORECLOSURES AND SHORT SAlES ARE STILL A PART OF THIS MARKET, Cne data sources for above information, THE APPRAISER HAS UTILIZED MLS AND THE TAX RECORDS, SUmmarize the above lniormatiDn as support for your conclusions In the Nelghborf1ood section of the appraisal report fOfl71, If you used any addttlonal Information, such as an analVSiS of Denrllno sales and/or elqllred and withdrawn IIstinos, to formulate vour cDncluslDns, provide both an exalanatlon and SUDDOr! fDr vour conclusions, THE SUBJECTS MARKET IS CURRENTlY IN DECLINE AS THIS MARKET HAS A HIGH NUMBER OF FORECLOSURE AND SHORT SAlES, THE SUPPLY IS STill EXCEEDING DEMAND WHICH CONTINUES TO DRIVE THE MARKET DOWNWARD, .---- ---- . --_._~- Klhl IlII1IIcI II. unIlln . candoINnIum or SUblect ProIect Data Total If at ComllnlIe Sales (Settled) Absorotlon Rate lTotaI Salesn.tonlhs) Total If Of Actfve Comoarable Usllnos Marths of Houslno SIIlOIv lTotaIUstlno&/Ab.Rate) Are foreclosure sales (REO sales) a factor In the project? U Yes foreclosed properties, , COIIIIIItlIlhI faItowIng: Prior 7-12 Months PrIor 4-6 Months Overall Trend Increaslno Stable Decllnlno Increaslno Stable Decllnlno U8CIIIlIIlIl 5t1b1e Increaslno llecInng Slable IncreaslnD If yes, Indicate the number of REO listings and elqllaln the trends In listings and safes of Pro/ICl NIIne: Current - 3 Months LJ No . . : . Summarize the above trends and address the Impact on the SUbject unit and Droiect, .---, --- -- ...::::::::... "" ~.-":. ,;r ~ Slonature ." , AoDralser Name ~ott Doolev - ./ Cornoanv Name RIE ANAl YSTS-RESIDENJIIQ... LLC, Camoanv Address 1881 N,E, 26TH STREET #2370C State L1cense/Certlflcatlon # RD 0002464 State FL Emall AddressMSDOOLEY@REANAlYSTS.COM Signature SlIDervisory Appraiser Name Company Name Company Address IJ J State lIcense/Certlflcatlon # Email Address -- State Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009 Form 1004MC2 - .WlnTOTAL' appralsalsoltware by a la mode, inc, -1-BQO-ALAMODE IFile No, 095-12345521 Paoe #12i MULTI-PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS R,E. Analysts. REsidential, LLC, BorrowerlClent BOSQUET DALLO Property Address 721 N, W. 2ND STREET City BOYNTON BEACH County PALM BEACH Lender SEASIDE NATIONAL BANK & TRUST I j S1ate FL Zip Code 33436 I This MuIU-Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to comply with the curren: appraisal standards and requirements of the Federal Deposlf Insurance Corporation (FDIC), the OffIce of the Comptroner of Currency (OCC), The OffIce of Thrtf. SuperviSion (OTS), the Resolution Trust Corporation (RTC), and the Federal Reserve. Thll Multl-Purp.e Supplemental Addendum II fOr un with an, appralla'. Onl, titan atatementa which havI blln chlcked by thl appra'nr appl, to tha praporty belna appra'nd. ~ PURPOSE & FUNCTION OF APPRAISAL I The purpose of the appraisal Is to estimate the market value of the subject property as defined herein, The function of the appraisal Is to assist the above-named Lender In evaluating the subject properly for lending purposes, This Is a federally related transaction, ~ EXTENT OF APPRAISAL PROCESS ~ The appraisal Is based on the In/ormation gathered by the appraiser from public records, other Identified sources, Inspection of the subject property and neighborhood, and selection of comparable sales within the subject market area. The original source of the cOll1l3rables Is shown In the Data Source section of the market grid along with the source of confirmation, If available, The original SOlJ'Ce Is presented first The sources and data are considered reliable, When conflicting In/ormation was provided, the source deemed most reliable has been used, Data beleved to be unrelallle was not Included In the report nor used as a basis for the value conclusion, ~ The Reproduc1ion Cost Is based on MARSHALL AND SWIFT. LOCAL AREA BUILDERS AND APPRAISER'S FILES. supplemented by the appralse~s knowledge of the local market, ~ Physical depreciation Is based on the estimated effectlve age of the SUbject property. Functional and/or elllemal depreciation, " present, Is specifically addressed In the appraisal report or other addenda, In estimating the site value, the appraiser has relied on personal knowledge of the local market, This knowledge Is based on prior and/or current analysis of site sales and/or abs1raction of slfe values from sales of Improved properties, ~ The subject property is located in an area of primartly owner-occupled single family residences and the Income Approach Is not considered to be meaningful. For tlls reason, the Income Approach was not used, o The EstImated Market Rent and Gross Rent MtlUpller utilized In the Income Approach are based on the appralse~s knowledge of the SUbject market area, The rental knowledge Is based on prior and/or current rental rate surveys of residential properties, The Gross Rent Multiplier Is based on prior and/or current analysis of prices and market rates for residential properties. o For Income producing properties, actual rents, vacancies and expenses have been reported and analyzed, They have been used to project future rents, vacancies and expenses. ~ SUBJECT PROPERTY OFFERING INFORMAnON According to MLS the subject property: o has not been offered for sale In the past: 0 30 days 0 1 year 0 3 years, ~ Is currenl~ offered for sale for $ 199.900 o wauIIDd for sale within the past: 0 30 days 0 1 year 0 3 years for $ o Offering In/ormation was considered In the final reconciliation of value, o Offering In/ormation was not considered In the final reconciliation of value, o Offering Information was not available, The reasons for unavallablUty and the steps taken by the appraiser are explained later In this addendum, ~ SALES HISTORY OF SUBJECT PROPERTY According to TAX RECORDS OF PALM BEACH COUN1'Y FLORIDA. the subject property: o Has not 1ransferred o In the past twelve months, 0 In the past thlrty.slx months, o In the past 5 years, ~ Has 1ransferred o In the past twelve months, I2$J In the past thirty-six months, o In the past 5 years, ~ Al prior sales which have occurred in the past 3 years are listed below and reconciled 10 the appraised value, either In the body of the report or in the addenda, Dati laI.. Price loculII..t II IIller ...., 712008 480 000 BOYNTON ASSOCIATES ZMJ INVESTMENTS LLC, ~ FEMA FLOOD HAZARD DATA ~ Subject property Ii.nUI..IUkiIDd In a FEMA Special FkIod Hazard Area, 0 Subject property IsJlIcaIed In a FEMA Special Flood Hazard Area, I lNl FIMA .....1P.n.. II Map Dat. I_I .r C_unlty I B 1201960004C 9130/1982 o The conrnunlty does not parllclpate In the National Rood Insurance Program, o The conrnunlty does participate In the National Flood Insurance Program, o ~ Is covered by a [8QJlIar program, o ~ Is covered by an ~ program, Page 1 of 2 Form MPA3 - 'WInTOTAL" appraisal software by a la mode, Inc, - 1-800-ALAMODE ~095-12345521 Paoe#131 ~ CURRENT SALES CONTRACT 1 0 The subject property Is currently not under contracT I rl The contract and/or escrow Instructions were~abJe JQUllI'Iew Tne unavailabilitv 01 tne contract is explained later in the addenda section, ~ The contract and/or escrow Instructions ~d The following summarizes the contra,' ! I rcontract Data Amandment Date Centract Price Selle' l 14/27/2009 199 900 ZMJ INVESTMENTS, LLC, I [8J The contract Indicated that personal property waLnOtlncJulled in Ine sai' [1 The comract Indicated that personal property wasJncluded, It conslstea c ----.- -----~._,--------- lJ -. Estimaled comributary value is $ _.._--~- Personal property was not Included In the final value estlma!; 0 Personal property wnJncIud.Bd In the final value estimate [8J The contract Indicated no financfng concessions or other incentive, D The contract Indicated the following concessions or Incentives - ----- 0 If concessions or incentives exist, the comparables were checked for similar concessions and appropriate adjustments were made, If applicable, so that the final value conclusion Is In compliance wfth the Market Value defined herein [8J MARIET OVERVIEW Include an explanation of CUlTent market condllona and trende. 3-6 months Is considered a reasonable marketing period for the sublect property based on MULTIPLE LISTING SERVICE AND APPRAISER'S FILES, [8J ADDmONAl CERTIFICATION The Appraiser certifies and agrees that: (1) The analyses, opinions and conckJslons were developed, and this report was prepared, In conformity wtth the Uniform Slandards of Professional Appraisal Practice C'USPAP'1, except that the Departure Provision of the USPAP does not apply, (2) Their cOl11lensatlon Is not contingent upon the reporting of predetermined value or direction In value that favors the cause of the client, the amount af the value estfmate, the attainment of a stipulated resuil, or the occlJTence of a subsequent event, (3) This appraisal assignment was not based on a requested minimum valuation, a speCifiC valuation, or the approval of a loan, [8J ADDmONAl (ENVIRONMENTAL) L1MITINI COfIIHTIONS The value estimated Is based on the assul11ltlon that the property Is not negatively affected by the existence of hazardous substances or detrimental environmental conditions unless otherwise stated In this report, The appraiser Is not an expert In the Identification of hazardous substances or detrimental envIronmental condttlons, The appraiser's routine Inspection of and Inquiries about the subject property did not develop any Information that Indicated any apparem slgnnlcant hazardous substances or detrlmemal environmental conditions which would affect the property negatively unless otherwise stated in this report, tt Is possible that tests and Inspections made by a qualified hazardous substance and environmental expert would reveal the existence of hazardous substances or detrimental environmental condttlons on or around the property that would negatively affect Its value, D ADDmONAl COMMENTS [8J APPRAISER'S SIGNATURE &. LlCENIfICERTIFICAnON ~~~- Appraiser's Slg~ _cu_~ e Date MAY 14, 2009 Date Prepared June 213.!-2009___._. Appraiser's Name (print)l i.r."Scott Doolev./ Phone # (954) 760-7990 -------- State FL D License C8J Certlflcatill!r# RD 0002464 Tax 10 # 65-0001364 D CO-SIBNING APPRAISER'S CERTIFICAnON 0 The co-signing appraiser has personaQy Inspected the subject property, both Inside and out and has made an exterior Inspection of all comparable sales listed In the report, The report was prepared by the appraiser under direct supervlslon of the co-signing appraiser. The co-signing appraiser accepts responsibility for the contents of the report Including the value conclusions and the IImttlng condttlons, and confirms that the certfflcatlons apply fully to the co-signing appraiser, D The co-signing appraiser has not personallY Inspected the Interior of the subject property and: 0 has not Inspected the extertor of the subject property and all compnble sales listed In the report, 0 has Inspected the exterior of the subject property and all comparable sales listed In the report, 0 The report was prepared by the appraiser under direct suparvlslm of the CO-signing appraiser, The co-signing appraiser accepts responsibility for the contents of the report, Including the value conclusions and the IImftlng condlllons, and confirms that the certifications apply fully to the co-signing appraiser with the exception of the certification regarding physical Inspections, The above describes the lev91 of Inspection performed by the co-signing appraiser, D The co-signing appraiser's level af Inspection, Involvement In the appraisal process and certification are covered elsewhere In the addenda section of thls appraisal. D CO-SIINING APPRAISER'S SlBNATURE & L1CINSE/CERTIFICAnON Co-Signing Effective Date Date Prepared AppraJser's SIgnatur9 Co-Signing Appraiser's Name (print) ._--~ Phon9 # State o License o Certification # Tax 10 # Pag9 2 of 2 Form MPA3 - "W1nTOTAL" appraisal software by a la mode, Inc, -j-aOD-ALAMOOE Subject Photo Page IRle No 095-1234552/ Paoe #141 Borrower/Client BOSQUET DALLO Properly Address 721 N.w. 2ND STREET CItv BOYNTON BEACH County PALM BEACH State FL Zle Cede 33436 Lender SEASIDE NATIONAL BANK & TRUST /- , (a. ( . SubJect Front 721 N.w. 2ND STREET Sales Price 199,900 Gross Uving Area 1,099 Total Rooms 6 Total Bedrooms 3 T etal Bathrooms 2 Location BOYNTON BC View RESIDENTIAL Site 5,227 Sq.Ft.. Quality AVG/GOOD Age 2009 EFF.{)} Subject Rear Subject Street Form PICPIX.SR - 'W1nTOTAL' appraisal software by a la mode, Inc. - 1.800.ALAMODE Comparable Photo Page IRle No 095-12345521 Paoe #151 Berrower/Ctient BOSQUET DALLO Prooertv Address 721 N.w. 2ND STREET CItv BOYNTON BEACH County PALM BEACH State FL Zin Code 33436 Lender SEASIDE NATIONAL BANK & TRUST Comparable '1 709 N.w. 2ND STREEi Prox. te Subject Sale Price Gross Uving Area T alai Rooms Total Bedrooms Total Bathrooms Lecatlon View Sije Qual~y Age 0.02 miles S 223.000 1,326 2 BOYNTON BC RESIDENTIAL 4,791 SF ) AVG/GOOD 2008 EFF.{)} Comparable 2 603 N. SEACREST BLVD. Prox. to Subject 0.21 miles SE Sale Price 208,831 Gross Uvlng Area 1,308 T etal Roems 6 T DIal Bedrooms 3 Total Bathrooms 2 location BOYNTON BC View BUSY STREET Site 5,663 SF } Quality AVG/GOOD Age 2008 EFF.O} Comparable 3 220 S.W. 1ST AVENUE. Prox. to Subject 0.47 miles S Sale Price 199,900 Gross Uvlng Area 1,871 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 2.5 Location BOYNTON BC View RESIDENTIAL Site 6,500 SF } Quality AVG/GOOD Age 1935 EFF-15} Fonn PlCPIlCCR - 'W1nTOTAL' appraisal software by a la mode, Inc. - 1.80D-ALAMODE IFile No 095-12345521 Paoe #161 Comparable Photo Page ( Borrower/Client BOSQUET, DALLO Prooerlv Address 721 N.w. 2ND STREET City BOYNTON BEACH County PALM BEACH State FL Zio Code 33436 Lender SEASIDE NATIONAL BANK & TRUST Comparable 4 717 N.w. 2ND STREET Prox. to Subject Less than 0.01 miles Sales Price 235,000 Gross Living Area 1,609 TDlaI Rooms 7 T DIal Bedrooms 3 TDlal Bathrooms 2.5 Location BOYNTON BC View RESIDENTIAL Slle 5,227 SF } Qualijy AVG/GOOD Age 2008 EFF.O} ( , Comparable 5 713 N.W. 2ND STREET Prox. to Subject 0.01 miles Sales Price 223,000 Gross Living Area 1,326 TDlaI Rooms 7 T DIal Bedrooms 3 T DIal Bathrooms 2 Location BOYNTON BC View RESIDENTIAL Sije 5,227 SF } Quality AVG/GOOD Age 2009 EFF-O} (- Comparable 6 405 S.w. 1 ST AVENUE. Prox. to Subject 0.47 miles S Sales Price 185,000 Gross Living Area 1,289 Total Rooms 6 Total Bedrooms 3 TDlaI Bathrooms 2 location BOYNTON BC View RESIDENTIAL Site 5,400 SF } Quality AVG/GOOD Age 1940 EFF-15} - ~ ..... ..- __ ...a.J-~_ _~_ Form PICPIlCCR - 'WinTOTAL' appraisal software by a la mode, Inc. -l-80D-ALAMOOE Comparable Photo Page IRle No, 095-12345521 Paoe #171 Borrower/Clent BOSQUET, DALLO Pronerlv Address 721 N.w, 2ND STREET CItv BOYNTON BEACH County PALM BEACH State FL Zln Code 33436 Lender SEASIDE NATIONAL BANK & TRUST Comparable 7 716 S.w. 1ST AVENUE Prox. to Subject 0.83 miles SW Sales Price 184,000 Gross Living Area 1,331 Total Reoms 6 Total Bedrooms 3 TDlaI Bathrooms 2 Location BOYNTON BC View RESIDENTIAL Sije 7,841 SF } Duality AVG/GOOD Age 1994 EFF-15} Comparable 8 800 W. OCEAN AVENUE Prox. to Subject 0.84 miles SW Sales Price 227,500 Gross Living Area 1,570 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 2 Location BOYNTON BC View RESID/N.STR Site 5,663 SF } Quality AVG/GOOD Age 2003 EFF-5} Comparable 9 prox. to Subject Sales Price Gross Living Area T DIal Rooms T DIal Bedrooms TDlaI Bathrooms Location View Site Quality Age Form PICPIX.CR - 'WInTOTAL' appraisal software by a la mode, Inc. - 1-80D-ALAMOOE IFile No, 095-12345521 Paoe #18i Building Sketch BorrowerlClent BOSQUET DALLO ProPertY Address 721 NW. 2ND STREET CItY BOYNTON BEACH County PALM BEACH S1a1e FL ZIp Code 33436 Lender SEASIDE NATIONAL BANK & TRUST 19,9' PATIO I:! I 7,8'.... BEDROOM BATH LIVING ROOM ;.. N BEDROOM '" DINING lx! ~ BATH KITCHEN 1> 9,5' ":l' FOYEF to BEDROOM GARAGE .,; r;:s: 12.4' PORC~ 11,8' Sll*iby~W'" Comments: AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Codo ~ Hot SIa Hot Tolol. .....down SuIIIololo GLAl Flro~ Floor 1099,3 1099,3 rir.t Floor GAR Gouge 228,6 228,6 10,4 II 32,7 340.1 0,5 II 2.3 II 2,3 2,6 8,1 II 13.1 106,1 '.5 II 32.7 310,6 3,0 II 4,6 13.8 7.8 II 41,8 326,0 Ne1 LIVABLE Area (Rounded) 1099 6ttems (Rounded) 1099 Form SKT.BldSkl - "WInTOTAl' appraisal software by a fa mode, Inc, - 1-80D-ALAMODE Comparable Sales Mall IFile No 095-12345521 Paoe #191 Borrower/Clen! BOSQUET DALLO Property Address 721 NW. 2ND STREET Cill' BOYNTON BEACH County PALM BEACH State FL Zip Code 33436 Lender SEASIDE NATIONAL BANK & TRUST a la mode Inc: 1loI.....'"......~~ ...i' ,/ ,....".8tnl.....; ~ ,~ J' -- 1 "^' ~"AWll i i r o f , . NW1""'''''' i i ~ u tM'etl A". 0 ~ I . , ~ e, ........-... ~ -.w ""-,. ;: 1 ,~ i I, I ! I j I i ; ; , r f ! ~ m I s, . f . r ~ , 'i (' ! 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X " SW!lllI"" BWi8IlJI" - ---'1....._ I III,......... .II i E~l'Nd .' Hf...~ i} r-. :;. ! ff;j II I. Pi' fi, VI . ~ if;j ~/.:..f l i-.'- X~I fl II d ::1 lit: ,HE I"".....; 1/ i t f I 1,i. N( t4lll4", 'I' I . -- !Ii;:~ -7'........-- ._.._....flk-- Nf 1""....__. _._.___._.,::__.~ I ~ ..: 1/.1 NE 1(1t1...../~ 51- -I 'I'! { , ./ iff NEW\_m , .4i II f ........ 'i I l; 1%, -. '[' ~ r: .....~ _.' __J.i nd~:"'_'_\.-j i ,f ..Id......j; (~, , l; _..f L_, --,;t' . Ii L _.W ~ 5t UI "...1 r..9E'. "- --1 J,\.~ ,II I j J .~ tt,,!) ~I: It,;' ! 111;1___ ~ I L · I ,I I :['-"r I · . . .......; 1 ! Ill! , I . / . Ii" /' ~p. = JI ,fir , ; -,I' f Ie 1OCh....... ~1" I I I ! I if t (D . I I lOCI... (., s , ~.~..,,",,_ ,;.;,;,......,"U..',....... . GH,,-I , ~ ~ ~ Nf.2Cktt...... .f'" r " , ~ ......- ........ .-1 J $w.,......_. ..."'... -...- ~ NE 11lh,.... I ) rIW.........:::...... SW",A... I r" " I .. sw,''''''_ $wu-'...... -... a ~ r -:;~'i~ lJ . I I 1 l! .! r ;0 ~ , '-"SWI2l'l"" ~-'.-. itwl~~... II SW13'M~- ~ J ; o II '* l6lba_. ;0 , .r NEt'~,..,. ~ ~ " ...I'EMIilIoW 3M"... " . j = I i i i IIl!SoI:I""" ; , I i If.."'....... i L stse.",j .. !~ M 1:/ t-. 'l · i ........> I , ; ! ..... ..1E1lh....... f ! SE....... i ii j I .. I I j :: II!UIll'~ ./ il I i I .8P1:J1lJWe: I ......... fit 11."" Form MAP.LOC - 'WinTOTAL' appraisal software by a la mode, Inc, -l.S00-ALAMODE ') Qst Ii. ,.. ~ o. .D. . i e. '" "'" HE.......--- :; "''''... =-J ,,-",-'Dr4 II .-.0.. c.....Lfl.. ) l1. .., <D '" ~ ~ l;€t -J U. ~ en "l ...) '.' 21 STATE OF Fl.ORIDA W III s:: CD u :::i :t: ~ UJ Q3 :< <i a. I DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BD SeQ# L08101002456 I 11'>11 ___ll\lIll,I:lll.LICENSE NaB. I 10/10/2008IQ80201467 IRD2404 The CERTIPIED RESIDENTIAL APPRAISER Named below IS CERTIFIED Under tbe provieions of Chapter 475 FS. Expiration date: NOV 30. 2010 tn ::J ~ all ~ Iii ~ O~:I::a! ~lf)~~ O~~~ t-NzZ W . OW ::J:!=t-o gz~i!j g~gffi DOOLEY. M SCOTT 403 SW 8TH STREET FT LAUDERDALE FL 33315 CHARLIE CRIST GOVERNOR DISPLAY AS RE{JWRED8Y LAW .. EgJ ., - ~I! ~ll~i ~a...c....> .....J w o ! ~ oJ .e oS '0 C E .!>! .. 1;' e I 'iii ~ l1:: .. g I- ~ I .., 5 c..: < ~ i CHARLES W. DRAGO SECRETARY - --~-~ --------""_.... '-~- -- -~-~-- - -_..._---~, ~95.12345521 Paoe #211 Supplemental Addendum File No 095-1234552 Borrower/Clem BOSQUET, DALLO Prooertv Address 721 N.W. 2ND STREET ~ BOYNTON BEACH Lender SEASIDE NATIONAL BANK & TRUST ~---- County PALM BEACH State F L Zip Code 33_'E~L__.._._ This summary report is intended for the use by this lender/client (and/or assigns) for mortgage finance purposes only. This report is no intended for any other use. The appraiser would like to note that the subject home is part of the community redevelopment prograrr APPRAISAL DEVELOPMENT AND REPORTING PROCESS This is a summary appraisal report, which is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) of the Uniform Standards of Professional Appraisal Practice for a Summary Appraisal Report. As Such, it presents only summary discussions of the data, resoning and analyses that were used in the appraisal process to develop the appraiser's opinion of value. Supporting documentation that is not provided with the report conceming the data, reasoning, and analyses is retained in the appraiser's files. The depth of the discussions contar.ed in this report is specific to the needs of the dient and for the intended use stated In the report. The appraiser Is not responsible for unauthorized use of this report. SALES COMPARISON APPROACH The Sales Comparison Approach is the process of analyzing relatively recent sales of similar or comparable properties for an Indication of the subjecfs market value. This approach directly reflects the actions of current buyers and sellers and is usually considered to be the most accurate and reliable of the three approaches for single-family residential properties. The property sasles used in this report have been compared to the subject and adjusted for differences in location. improvements and lot size, financing, condition, appeal, pool and patio areas, extras, and other Important factors. Sales of similar properties In the subject neighborhood and similar areas have been investigated and analyzed. Those considered to be most comparable were used In this report. COST APPROACH The Cost Approach Is based on the proposition that an informed purchaser would pay no more than the cost of producing a substitute property with the same utility as the subject. It Is particularly applicable when the property being appraised Involves new Improvements, which represent the highest and best use of the land. The Cost Approach is comprlsed of estimated site value, the contribution value of the site improvements, and the depredated value of the building improvements. Value of the site improvements is estimated based on their contributions to the overall property. This estimate considers their estimated cost new, observed physical condition, and typical demand with this type of property. Depreciated value of the property's building improvements is estimated by deducting its accrued depreciation of diminished utility from Its costs of construction or current prices. Cost of construction Is estimated based on various conversations with builders and e comparison with the Marshall Valuation Service. Physical depreciation Is based on the straight-line method. Depreciation is based not only on construction quality, physical condition, and observed deferred maintenance, but also on general neighborhood and locatlonal trends. Demand is average for properties in the subject's area. INCOME APPROACH The Income Approach is based on the deflnation of value as the present worth of the future income. This approach has its greatest application when appraising properties in areas where tenant occupancy predominates. . URAR : NeIGhborhood. DucrlDtlon THE SUBJECT IS LOCATED WITHIN THE BOYNTON HILLS SUBDIVISION LOCATED IN CENTRAL PALM BEACH COUNTY. TYPICAL AMENITIES SUCH A SCHOOLS, SHOPPING, AND OTHER SUPPORT SERVICES ARE ALL WITHIN CONVENIENT DISTANCES. THE SUBJECT HAS ADEQUATE ACCESS TO MAJOR ARTERIES OF TRANSPORTATION SUCH AS WOOLBRIGHT ROAD WHICH PROVIDES EAST-WEST ACCESS, MILITARY TRAIL WHICH PROVIDES NORTH-SOUTH ACCESS, AND 1-95 WHICH ALSO PROVIDES NORTH-SOUTH ACCESS. . URAR : NeIGhborhood. Market Conditions GENERAL MARKET CONDITIONS APPEAR TO BE IN DECLINE WITH SUPPLY GREATER THAN DEMAND. FHA, VA AND CONVENTIONAL FINANCING AT COMPETITIVE RATES IS PREDOMINANT IN THIS AREA. NO ADVERSE NEIGHBORHOOD INFLUENCES NOTED THAT WOULD ADVERSELY AFFECT THE SUBJECrS MARKETABILITY. THE SUBJECT'S COMPETITION CONSISTS OF NEW CONSTRUCTION AS WELL AS RESALES OF EXISTING HOMES. THE APPRAISER WOULD LIKE TO NOTE THAT THE SUBJECT EXCEEDS THE PREDOMINANT VALUE FOR THE AREA DUE TO THE FACT THAT IT IS A NEWLY CONSTRUCTED HOME IN AN ESTABLISHED AREA OF OLDER HOMES. THERE ARE OTHER NEW HOMES IN THIS AREA AND OLDER HOMES THAT HAVE BEEN RENOVATED. Form TADD - "WinTOTAL' appraisal software by a la mode, Inc. -1-800-ALAMODE Peyton Appraisals Residential Raal Estata Appraisals (~ BOSQUE7 file No. 09070701 APPRAISAL OF ~.r '. 10""'" .' ;' :.;- _.L -'..................,. 1'- I The Raal Property LOCATED AT: 721 NW 2nd Straat Boynton Beach, fL 33435 FOR: Saaslda National Bank & Trust 4290 Professional Center Dr.. Suite 201 PBG, FL 33410 BORROWER: BOSQU ET, Dalla & Ranel AS OF: July B, 2009 BY: r I Robert L. Payton State.Cartifled Residential Appraiser #RD61B2 6279 Terra Rosa Circla, Boynton Baach, FL 33472 Tel: 561.901.4609 Fax: 561.734.3458 The puroose of this summary aooralsal report is to provide the ienderlclient wltn an accurate. and adequately supported, opinion of the market vaiue of the sUbject property. I ProDertv Adll'ess 721 NW 2nd Street City Boynton Beach State FL Zip Code 33435 ! Borrower BOSQUET DeRo & Rene' __O""er of PublIC Record ZMJ Investments, LLC County Palm Beach Leaal Description BOYNTON HILLS L T 184 BLK C ----- '- ~-- --- --- - _.- --~---~---_.._~---- _._,~~- _..1 Assessor's Parcel # 08-43-45-21-07-003-1S40 - ~-~ ---- Tax Year 2008 RE. Taxes $ S36_00 Neiahborhood Name Bovnton Hills Map Relerence 43-45-21 Census Tract 61 _ 00 Occunart I I Owner Tenant lx] Vacant Snecial Assessments S None Kn~~~______~._ DpUD HOA $ N/A I l per vear r 1 Der month! Propertv RiQhts Appraised ixlFee Sil11llle r 1 Leasehoid T ~fOther Idescrioe 1 Assinnment Tyoe Ixl Purchase Transaction I ] Refinance Transaction I -.---- ---" .__._.'._n_. ~-~---_., ~------ ------- o Other (describe; -~--------" Lender/Client Seeslde National Bank & Trust Address 4290 Professionai Center Dr., Suite 201, PSG, FL 33410 --~i Is the sub.ect Drone"" currenrlv oli'eredmrsale or has k been oflered fIX sale in the Dvelve months orior to the effective date oflhis annraisal? Ix Yes [lNo Report data source(s) used, offering prlce(s), and date(s). See Attached Addendu,:, _ __. ____~ ------- I .- -~----_.,'~._~- I lxJdid Udid no! analyze lhe tonITact for sale fIX the sulJject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed. A sianed/fullv executed CODV of the Durchase contract was orovided showino the contract orice and the date of the contract. This COpy is retained in the work file and I. a.sumed to be the comolete contract. ---~-- Contract Price $ 199,900 Date of ContnICt 4/28/2009 Is the orooertv seHer the owner of oublic record? I X IVes I I No Data Source!s) PAPAITRW -- Is there any financlai assistance Ooan charges. sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behail of the borrower? UVes lxJ No iI Yes, report the total donar amount and desaibe the kerns to be pakl_ $ None Known The ourcha.e contract has been orovlded end does not indicate env financial assistance to be oeid on behalf of the borrower. The CODV of the Durchase contract is retained in the work file end is assumed to be the comolete contract. Note: Race and the racial comoositlon of the nelahbort1 lOcI are not anrvalsal factors Neighborhood Char.Ct!O'iSiI~ One.Un~ Housing Trends one,uo/t HoUsing Present land Use % Location 1 1 Urban I X I Suburtlan I I Ronl -~ Values 11,nae.sina r 1 Stable lxlDeeDnino PRICE AGE One-Unit -~ BuIU.Uo Ixl Over 75% 25-75% I I Under 25% DemandlSullolv ,l Shortaoe Ixlln Salance r lOver Suoolv $fOOO) Ivrs) 2-4 Unit 2% Growth ,l Raoid X Stable I Islow Marketlno TIme 1 1 Under 3 mths IxlH mtlls r lOver 6 mths 25 Low 0 Muki-Famitv _.21i Neighborhood Boundaries The nelahborhood ill bounded bv Gatewev Blvd. to the north, Bovnton Beech 235 Hieh SS Commercial --~ Blvd. to the south. US-1/Federal Hwv. to the ea.t end 1-95 to the west. 75-150 Prell. 28-53 Other --~ Neighborhood Description See Atteched Addendum -~._-- ~- ------- m~__._ Marl<et CondUions (including supp"" for the above conclusions) See Atleched Addendum ~----~- -~_.- Dimensilrns - 50 x 105 Area -5236 So_Ft./0.12 Acres ShaDe Sasicallv Rectanoular View Resldentlal-Avg -- Soeclfic Zonino ClassifICation R 1 A Zonlnn Descrl"'lon Residential Slnole-Familv --------~--- Zonino Comolianee r X Leoal rlLeaal Nonconfermioo IGrandfathered Use' r1No lonino r 1llleoel (descrlbel Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? [Xl Yes ~ If No, describe. The subject imDrovements are reasonablv tvoical and comoatible with market demand for the neiohborhood; the present imorovements contribute to value. Utilities Pubfic Other Idescribel Public Other (describe) Off.site Improvements-Type Public Private Electric~v r1 Ixl Overhead Water ["Xl U - -_.~--- SITeet Asphait --"-"- lxJ [J Gas f1 r 1 None Noted Sanitarv Sewer rXl r1 Allev NIA [J [J FEMASoecialFIoodHaZErdArea lives IxlNo FEMA Flood lone 8 FEMA Mao # 1 20196-0004C FEMA Mao Date 9/30/1982 Are the utilities and off-s1e Imorovements tvoical for the marl<et area? Ixlves r1No If No, describe. Are there any adverse site conditions or external facters (easements, encroachmel1ts, environmental conditions. land uses, ete.)? DYes WNo If Yes. describe. Electric and water utilities were disabled and non-oDe rational at the time of the appraisal inspection. "---,,"--- -----~,. ---- .--- ----. -- GENERAl DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materiaislcondllion INTERIOR materialslcondttion Units rX10ne r lOne with Aceessorv Unk IXlConcrete Slab r l Crawl Soace Foundation Waifs Concrete Slab-Unk Floors Tile/Ceruet-Gd # of Stories One IFullSasement r l Partial Sasement Exterior Walls CBS-Gd Walls DW/KD/Palnt-Gd Tvpe IxlDet. ,lAlt. I IS-Det.lEnd UnU Basement Area 0_0000 so. n. Roof Surface Metal-Gd TrlmlFioisl1 Wood-Tvo l Exist/no Ixlprooosell I I Under Const_ Sasement Finish NIA % Gutters & Downsoouts Aluminum-Gd Bath Floor Tile-Gd Deslon fStvlel Ranch I Outside EntrvlExit rlSumo Pumo Window Tvoe Aim Hno/lmoect-Gd Bath WainstOl Tile-Gd Year BuDt 2009-0 Evidence of llnfestation Storm Sash/lnsulated None Car Storaoe I INone Effective Aae IYrsl 0 I Damoness r 1 Settlement Screens Ve.-Avo Ixl Drivewav # of Cars 1 Attic None Heatino Ix IFWA Ir lHW8S! r 1Radiant AmenUles WoodStovelsl # Drivewav Slriace Concrete loroo Stair Stairs I Other I Fuel Elec lFlrenlaceisl # Fence Ix I Garaoe # of Cars 1 -- 1 Floor X Scuttle Coolino I X I Central Air CondUlonlno 1 PatiofDeck )( Porch ICaroort # of Cars 1 Finished Heated I Individual I r 1 Other CFs 1 Pool Other lAtt. I IDet. IxlSuiit.ln , Annllanees 1P1 Re/rIoerator I X I RanoelOven IxlDishwasher fl(JDismsa, fl(JMicrowave fPlwasherinruer r 1 Other (describe) Finished area above orade contains: 5 Rooms 3 Bedrooms 2 Bath!s) 1,092 Souare Feet of Gross Livino Area Above Grade Addkionai features (special energy efficient Items, etc.). See Atteched Addendum ---_.~-- - ---- --- Oescribe the condition of the property Qncluding needed repairs, deterioration, renovations. remodeling, etc.). The subject is proposed construction and is appraised 8S if comolete. Details taken from olans and BDets orovided bv the builder. Atter review of available data, no Dhvsical or functional inadeouacles are anticioated unon comoletion. No external inadeauacles noted. -. --~~----~----_.._---- ------- Dves [XlNo -- Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? If Yes, describe. --,,---- -------_.~_._----- -- Does the property generally cor/arm to the neighborhood (functilrnal utility, style, condn_ln. use. construction, elc.)? liJ Yes UNo ff No, describe. The subject is within the rantle of neiohborhood homes in terms of stvle, size, condition and construction oualitv. - -- Complete Aporaisal Process ,Summary Appraisal Repor1 Uniform Residential Appraisal Report BOSQUET File No. 09070701 Freddle Mat FortTI 70 March ZOOS Prllliuced using ACI srttwlre. aOO,nun1 WNW,8dweb_ccm Pa9l!1of6 Filllnle Mae f(l(lTll(IQ4 Mafdl ZOOS lOO~_05 0619llf. Compl.t. Appraisal Proc.ss/Summ.ry Appr.is.1 R.port Uniform Residential Appraisal Report BOSQUET Fie No. 09070701 There are 3 comoarable DI'OD8Ilies C1II'entIv otI...ed for sale in the subiect neI'-'borhood ranolno In DlIce!rom $ 190 000 10 S 235 000 I There are 2 comoarabl. sales In the suliect nelohborhood wkhin the oast twelve months ran ino in sale rrlce!rom $ 223 000 10S 235000 I FEATURE SUBJECT COI.f>ARABlE SAlE NO. 1 COI.f>ARABlE SAlE NO. 2 COMPARABlE SAlE NO.3 , 721 NW 2nd Str..t 717 NW 2nd Str..: 709 NW 2nd Str..t 220SW 1.t Av.nu. I I Address Bovnton B..ch Boynton B.ac~, Bovnton Beach Bovnton Beach I ProxinilV to Subiect Naxt Door 5 3 Sites 5 -1/2 Mile 5 i Sale Price S 199900 1$ 235000 Is 223 000 IS 199 900 Sale Pri:8Gross LN. Area S 183.06 SQ. ft. S 146.05sQ,ft,1 $ 168.17 so. ft. I S 106.84 so. 11.1 I Data Soll'Ce(s) PAl'~ P APAITRW /S.II.r /Oev.loper PAP AITRW /S.ller/Dev.loDer PAPAITRW/Realtor Verillc8t1on S<lurte/sl Miii_i271 MLS #R2946430 OOM:291 MLS #R2946449 OOM:188 MlS 'R2936468 OOM:307 VALUE AOJUSlMENTS DESCRIPTION OESCRIPTION +(-) $ Adlustmenl DESCRIPTION .1.)S__ DESCRIPTION >1-1$-'" Sale or FInanci1g None Known FHA No Adj. FHA No Adj. FHA No Adj. Concessions Non. None Concession -3,600 Date of Salell'""e 4/2812009 5/2009 Closed No Ad'. 2/2009 Closed -6,700 4/2009 Closed -2,000 Location Suburban Suburban Suburb.n Suburb.n leaseholdIFee Simole Fe. Simol. F.. Simol. F.. SlmDI. Fea SlmDle SIte -0.12 Acree -0.12 Acr.s -0.12 Acr.. -0,16 Acr.. No Ad;' VIew Resld.ntlal-Avo R..ld.ntial-Avo R..ld.ntl.I-Avo R.aid.ntlal-Ava DesIon !Sl'IIe1 Ranch-Avo 2-Storv-Avo No Ad;' Ranch-Ava Ranch-Ava Quallv of Construction CBS- TVD/Roaf:Mtl CBS-TvD/Roof:Mtl CBS- TVD/Roof:Mtl FmSlc..TYDlRoof:FIaI +6,000 Actual Ace 2009-AO/EO 2008-A 1/EO No Adi. 2008-A 1/EO No Adj. 1936-A741E20 \ +40 000 Condom Good/N.w Eau.' Eaual Inf.rlor / Above Grade T...ls_J BIlhs T...lsmnsJ Saths TotJI 1..-.1 Salhs T...11l<Innsl - Room Count 6 I 3 I 2 7 1 3 I 2,1 -2.000 7 I 3 1 2 7 I 3 I 2.1 -2.000 Grms LMm Area40.00 1 092 so. ft. 1,609 so. ft. -21.000 1,326 sa. ft. -9.000 1 871 so. ft. -31.000 Basement & Finished N/A N/A N/A N/A Rooms Below Grade N/A N/A N/A N/A Functional UtilIty Ad.aust. Ad.au.t. Ad.auat. Ad.au at. HeaIM/Cooino C.ntral Ht/Aa C.ntral Ht/Ac C.ntral Ht/Ac C.ntral Htl Ac Enerov EIliclert ftems StandardlTva StandardlTvD StandardlTvD StandardlTvD GaraoelCarnon 1 Car Garao. 1 Car Garaa. 1 Car Garaa. 2 Car Garaa. -6,000 PorthJPatioIDeck Porch Porch Porch Porch Pool,F.nc.,Etc... Non. Non. Non. None Flr.Dlac. None Non. Non. Non. UDor.d.a Abov. Av.rao. Eau.1 Eou.l Inferior + 6,000 Net Adlustment /TOlan I I. lxi- Is 23;000 fl. 1xI- Is 15.700 Ixl. I I- Is 6,600 Adjusted Sale Price Net Adj. -9.8~1. Net Adj. -7'0~1~ Net Adj. 3.3~ I ~ of Cornearables Grms Adi. 9.8% S 212000 GrossAdi. 7.0% S 207300 GrmsAdi. 46.8% S 206 400 I lxJ did U did not research the sale or cansler hlstary of the sul!iect propeny and comparable sales. II not, explain R....rch w.. m.d. with our norm.l DrDD.rtv d.t. laurc.. ICountv W.b .It... R..I..t.t, TRW and the MLS) I MY research I X I did I did not reveal anv orIor sales or IranslelS of the subiect CIOoertv lor the tlree vears orior 10 the effective date of Ihis aooraisal. Data source!sl County PrDD.rtv ADor.ls.r Web Sit.ITRW/MLS I MY research I x I did I did not reveal anv ttIor sales or translelS of the camcarable sales for the year orior 10 the date of sale of Ihe comaarable sale. Data source/sl County PrOD.rtv ADorals.r W.b Sit.ITRW/MLS Recort the results of the research and analvsls of the aria sale or transler histarv of the sub'ect DI'ODertv and com rable sales (recort additional _ sales on oace 31. ITEM SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 2 COI.f>ARABI.E SAlE NO.3 Date of PrIor Salerrransl... 7/2008 7/2008 7/2008 N/A Price of Prior SalelTransler $480,000 tWO) $480,000 IWOI $480,000 fWOI NIA Data SoII'l:e!sl 5.. Abov. Data Sourc.. 5.. Abov. O.ta Sourc.. 5.. Abov. Data Sourc.. 5.. Abov. O.ta Source. ElfecIIve Date of Data Suce!sl 7/7/2009 7nt2009 7/7/2009 7/7/2009 Analysis of prior sale or transfer hlstary 01 the subject property and comparable sales Th. "Eff.ctlv. O.t. of O.ta Sourc.s" Is the d.t. w. .couir.d the d.t.. Th. I Drtor of .ubJ.ct w.s D.rt of of . I.nd Durchaa. of eloht (8) horn.. .it... Comos 1, 2. 5 & 6 wer. al.o Dart of thla bulk Durch.... SUmmary of Sales Comparison Approach. 5.. Attach.d Add.ndum Indcated VakJ. bv Sales Comoarlson AllDI'Oach S 206 000 IndlcatBd valu. by: Sales Canoarlson Acoroach $ 205.000 Cost ADoroach IIf deyelooedl $ 203,300 Incom. Allorcach II develooedl $ N / A SuDDI.m.ntal comm.nts. c.rtlflcetlon & .t.t.m.nt of Iimltlna cDndltion. ar. att.ch.d formina .n int.or.1 D.rt of thla aDDral.al. Th. Co.t ADDroach was d.velaDed but Ia not r.oulr.d bv FNMA; DIvan Iittl. consid.ratlon. The Incom. aDoro.ch w.s not d.v.loD.d' this J. .n owner occuDi.d m.rk.t; I DroNrtles .r. not a.n.rallv ourch...d for Incom.. Th. Sal.. ComDarlaon Analvala beat r.flects the actions of buv... .nd ..Iler.. ThIs appraisal is made U "as is," lxJ subject to completian per plans and specifications an the basis of a hypothetical condlton that the ImprovemeltS have be", completed, Osui!ject to the foUawlng repairs or atteraUons on the basis or a hypothetical candttion that the repairs or akeraUons have been completed. or 0 subject to the following required Inspection based an the exuaordlnary assumption that the contltian or deficiency daes not require akeration or repair: 5.. Att.ch.d Add.ndum Based on a complete visual Inspection arthe Interior and exterior areas arthe subject property. defined scope of work. statement of assumptions and limiting conditions. and appraiser's certIfication. my (our) opinion ofthe market value. as defined, arthe real property that Is the subject of this report Is S 206,000 ..af 718/2009 . which Is the date of l"sORctlo" and the elTectlve date of this anrrl!llsal. Ole .... ''''' 10..... 200l PtOIIucell using ACt......, aoo.num www.......com Fame Mae Fcrm 1004 MM'a12005 Page2dS 1004jl&ll62i06 P.yton Appr.lsal. Complete Appraisal Process/Summary Aporaisal ReDO' Site Comment ---- A survey was not made available; the deed was not checked for recorded easements, Only aooarent easements, encroachments and other apparent adverse conditione have been reported, if observed, The subject site is c~n~ in terms_of size,~and topography, Sire . _~__ dimensions taken from the Dublic record. .- ... -.- -~~. __._n___~_____~ -. _._--_.__._-~-_._- -- ------.---.--- ---- ________m____ ~--- --- -"- - ,.--- ~- ---- ....~--~------ n_.____ - -~--- ----.-..---..--,- -.- -_._...-_._--~,- __nn_____ --- -~- ~--_..._--- - ..~._--~---- ---- --- - -- ------- --- -- - _._-..._--,~ .. __n --- __n~_____________ _ c--- -"~-..~-- - -- --- ._~_.- .---- - .~_...__.- --.- ------ ~..- ----- ~.__. --. --- - _._~- ------- .--- ------~---- --- ~---~_._--- ----~---~-- -.--- . ----~----~ .--.------ ._-~._--- --_..._---~--~-,---,~ .~---~- ------.,.-. -_. ; -- --~-.- -- ------- -_._~-~. .----- '--..- _n_ .~_. --~- .~._-_.-._- ._--~------ --.- -~_.~---- --~-- ---- ----- -------------- -- ---_._-~ -.--- ------ ----- -~ ----- _._~ -_._~---- -----~-_._---_.~ ----,.. -----~-_. ----- ._~~.~~--- ~- ~._-.~- -~---_.._---------- - --"--_._-_.~ - - --_. COST APPROACH TO VALUE (not required by Fannie Mae) Provide adeouate information for the lender/client to replicate the below cost finures and calculations. Support ror rhe opinion of site value (summa/)' of comparable land sales or other methods for estimating site vaiue) Vacant site sales are not available 8S this area has been built-out. Site values are estimated bv the ebstractlon of Imnroved sales. The lack of vecant site sales decreases the rellebllitv of the cost approach. The hinh site to value ratio Is tvpical for this area with no adverse Impact on marketabilltv. This hioh ratio is attributed to current market conditions. ESTIMATED [ J REPRODUCTION OR lxJ REPLACEMENT COST NEW opiNION OF SITE VALUE .site,to,value,ratio.:. 34.4 %. .,.. .' $ 70,000 Source of cost data II......" " Swift ....ld.ntf.1 Cut H.tulbulc/L...I..Udll nIl DwelUI1Q 1.092 So. Fr.@$ 100.00... ... .' $ 109,200 Qual~ ratinn ~om cost service Good Effective date of cost data 3/06 Porch/Patio 105 So. Ft. @ $ 30.00... .' $ -~ Comments on Cost AoDroach (oross livino area calculations, deoreciation, etc.) Appliances 3.000 See Attached Addendum Garaoe/Carport 227 SQ. Ft @ $ 35.00.. ..' $ 7,945 Total Estimate of Cost-New .' $ 123.295 less 55 Phvsical I Functional I External Depretiation $0 I I ~ $( 0 Depretiated Cost of Improvements. . ~ $ 123.295 "As-is' Value of S~e Imorovements. ..... . $ 10.000 Estimated Remaininn Economic Ufe /HUD and VA onlv) 55 Years INOICATED VAlUE BY COST APPROACH. . $ 203 300 INCOME APPROACH TO VAlUE (not required by Fannie Mae) Estimated Monthlv Market Rent $ N/A X Gross Rent MuttiPIler N/A =$ N/A Indicated Value bv Income Approach Summa/)' of Income Approach (including support ror market rent and GRM) The Income Approech to value was considered but It not applicable for this analvsis. The subiect is located In an owner-occuoled neiohborhood and is not tvplc.Uv purcheled for Income nroduction. PROJECT INFORMATION to~ PUDs (If applicable) Is the develooerlbuilder in control of the Homeowners' Association /HOAl? I Jyes IXJNn Untt type,s) lxJ Detached r 1 Attached -- Provide the followinn inrormatlon for PUDs ONLY W the develooerllluUder is In clll1trol of the HOA and the subject propertY is an attached <!welllnn un~. ----- lOQal name of O/'Oiect Total number of Phases Tntal number of units Total nunter of un~s sold -- Total number of unlls rented Total number of unlls for sale Data solJ'ce(s) -- Was the prolect created bv the conversion of an existinG buldinpfsl into a PUO? L l Yes I J No If Yes. date of CIlI1"/Sion. --- Does the orolect contain any multi-dwellino unlls? L Jyes I JNo Data source(s) --- Are the units, common elements, and recreation facilities complete? UYes UNo If No. describe the status of completion. - --.-- Dyes UNo ~~_.. Are the common elements leased to Of' by the Homeowners' Association? If Yes, describe the rentallerms and options. _._____n.._~_ Describe common elements and recreational faclities. This PUD section Is not applicable since the develoDer/bullder is NOT in control of the HOA. andlor the subject DrODertv Is NOT an attached dwelling unit. :Idle Mac Fonn70Matth 2005 P!Odllcedusln9AC1sDftware,80o.Z3u727WWV1lclwellcllm Fannie Mae Form 1004 Mard12~ Uniform Residential Appraisal Report BOSQUET File No. 09070701 Page 31.'(6 1004_05(6291)6 Complete Appreieel Proceaa/Summary Appraisal Rapor! Uniform Residential Appraisal Report BOSQUET Fie No. 09070701 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accassory unit; including a unit In a planned unit development (PUD). This report form Is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. This appraisal report is subject to the fallowing scope of work, intended use, intended user, definition of marlket value, statement of assumptions and limiting conditions, and cartifications. Modifications, additions, or deletions to the intended use, intended user, definition of marlket value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional cartifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership In an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal raport form, including the following definition of market value, statement of assumptions and limiting conditions, and cartificatlons. The appraiser must, at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from raliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal raport Is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open marlket under all conditions requisite to a fair sale, the buyer and saller, 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 saller to buyer under conditions wheraby: (1) buyer and seller are typically motivated; (2) both parties are well Informed or well edvised, and each acting In what he or she considers his or her own best Interest; (3) a reasonable time is allowed for exposure in the open marlket; (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 craative financing or sales concessions' granted by anyone associated with the sale. . Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers all a result of tradition or law in a market area; these costs are readily identifiable sinca the seller pays these costs In virtually all sales transections. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not ba calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the marlket's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification In this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, excapt fpr information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title Is good and marlketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal raport to show the approximate dimensions of the improvements. The sketch Is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Manegement Agency (or other data sourcas) and has noted In this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, nBgarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property In question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal raport any adverse conditions (such as needed repairs, deterioration, the prasenca of hazardous westes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became awara of during the research involved in performing this appraisal. Unless otherwise stated In this appraisal raport, the appraiser has no knowledge of any hidden or unapparant physical deficiencies or adverse conditions of the property (such as, but not limited to, needed rapalrs, deterioration, the preaenca of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that thera ara no such conditions and makes no guarantees or warranties, express or Implied. The appraiser will not ba rasponslble for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because tha appraiser is not an expert in the field of environmental hazards, this appraisal raport must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal thet is subject to satisfactory completion, rapalrs, or alterations on the assumption that the completion, rapalrs, or alterations of the subject property will be perfonned In a professional manner. "........,,""' III M"'" """ PrlMIucecl lolling ACI ~~m2304..727 WNW.aciMb.cam ..nr1Il!!MlIerormlUM~L\AIl 1004_05 0121OI Complete Appraisal Process/Summary Appraisal Report Uniform Residential Appraisal Report BOSQUE file No 0907070' APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum. developed and reported this appraisal in accordance with the scope of work requirements stated in thiS appraisal report. 2. I performed a complete vIsual inspection of the interior and exterior areas of the subject property. I reported the condition 0' the improvements in factual, specific terms. i identified and reported the physical deficiencies that could affect the livabilit\ soundness, or structural integrity of the property 3. I performed this appralsai in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at th€ time this appraisal report was prepared 4. I developed my opinion of the market value of the real property that is the subject of this report based on the saies comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. J researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. J am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. J obtained the Information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximlty of the subject property to adverse Influences In the development of my opinion of market value. I have noted in this appraisal raport any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I beceme aware of during the research Involved in performing this appraisal. I have considered these adverse conditions In my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal raport are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that Is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on tha race, color, raligion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisai or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conduslons end opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such indlvidual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. ac 0ITlf 0 a ProdlJUd~AC'~~'Si.234,8727_..dlwb.c:orn am' 100'_05 0152906 Complete Appraisal Process/Summary Appraisal Report BOSOUE, File No. 09070701 Uniform Residential Appraisal Report 21. The lender/client may disclose or distribute this appraisal raport to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage Insurers; govemment sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publiC ralations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraiaal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary marlket participants may raly on this appraisal raport as part of any mortgage finance transaction that involves anyone or more of these parties. 24. Ifthis appraisal raport was transmitted as an 'electronic record" containing my 'electronic signatura," as those terms are defined in applicable federal and/or stata laws (excluding audio and video recordings), or a facsimile transmission of this appraisal raport containing a copy or raprasentation of my signatura, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrapresentation(s) contained in this appraisal report may result In civil liability and/or criminal penalties including, but not Iimltad to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The SuperviSOry Appraiser cartifies and agrees that: 1. I diractly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal raport including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's cartiflcation. 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisel firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Unifonm Standards of Professional Appraisal Practice that wara adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in plsca at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my 'electronic signatura,' as those terms are defined in applicabla federal and/or state laws (excluding audio and video racordlngs), or a facsimile transmission of this appraisal raport containing a copy or representation of my signature, the appraisal raport shall be as effective, enforceable and valid as If a paper varsion of this appraisal report were deliverad containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) ~ Signature~1. Name Robert L. Pe 0 Company Nama Peyton Appralaals Company Address 6279 Terra Roaa Circle Boynton Beach, FL 33472 Telephone Number 561-901-4609 Email AddressPeytonAppra.als@bellsouth.net Date of Signature and Report 07/0B/2009 Effective Data of Appraisal 7/8/2009 Stata Certification # RD61B2 or State License # or Other (describe) State FL Expiration Date of Certification or Licanse 11-30-2010 State-Certified Reaidentlal Appralaer #RD6182 ADDRESS OF PROPERTY APPRAISED 721 NW 2nd Street Boynton Beach, FL 33435 State # APPRAISED VALUE OF SUBJECT PROPERTY $ 205,000 LENDER/CLIENT Name Emall to:pmiller@SEASIDEBANK.COM Company Name See.lde Netlonel Bank & Trust Company Address 4290 Profeaslonal Center Dr., Suite 201 PBG, FL 33410 Emall Address Signature Name Company Name Company Address Telephone Number Email Address Date of Signature State Certification # or State Licanse # State FL Expiration Date of Certification or License SUBJECT PROPERTY o Did not inspect subject property o Did inspect exterior of subject property from street Date of Inspection o Did inspect Interior and exterior of subject property Date of Inspection COMPARABLE SALES o Did not inspect exterior of comparable sales from street o Old inspect exterior of comparable sales from street Data of Inspection 'ame MAe I ann HaM rMfCrll:lM! 1~oe082lloe tleOOle MIC rerm N Mlren zoo::. Produced U811'1g ACI "')r-.~m23U727 www....b.oom Peyton Appraisals Complete ..u.ppraisal Process/Summary Appraisal Report Uniform Residential Appraisal Report BOSQUET File No. 09070701 FEATURE T SUBJECT COMPARABLE SALE NO , i COMPARABLE SALE NO,S COMPARABLE SALE NO, 6 721 NW 2nd Street 716 SW 1 st Avenu, ! 210 NW 7th Avenue 713 NW 2nd Street Address Bovnton Beeoh Bovnton Beaer ----- I Boynton Beach Bovnton Beach Proxlmitv to Subiect -4/5 Mile SV, 1- 1/10 Mile E 2 Sites S Sale Price $ 199,900 is 184,000 1$ 235,000 1$ 223,000 Sale Pric&'Gmss Liv. Iwa $ 183.06 sa. ft. $ 138,24 so. ft I II 169.92 so. ft. I $ 173.81 so,ft,1 Data Source's' PAP~ PAPA/TRVI I PAPAITRW/Oovolooor PAPAITRW /Oovelonor Verification Soorcels) MU. 1lOM:271 MLS #R3003872 OOM:9L I MLS #R2946454 OOM:341 MLS #R2946432 OOM:341 VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION ~(.I $ AdlU5LTerTl DESCRIPTION +(-}SAd'u5Imel1l. DESCRIPTION +(-) $ Adlustmer.t Sale or Financing None Known FHA No Adi. I Active listing I No Adj. Active Listing No Adj Concessions None Known Date of SalelTime 4/2812009 6/2009 Closed I No Adi i Active Listing -+- -11,750 Active Listin" .11.150 Location Suburban Suburban -~--------+------,-_.__._._- I Suburban Suburban ----~i LeaseholdlFee Simnle Foe Simole Feo Slmole i Fee Simplo Fee Simnlo Sne -0.12 Acres -0.18 Acres No Ad.. -0,16 Acres No Ad'. -0.12 Acres View Residentlel-Ava Residential-Avo Residential.Ava Resldentlal-Avn i Desinn ISI"e' - Rench-Ava Ranch-Avo 2-Storv-Avo No Ad', Ranch-Ava .1 Qualnv of Construction C8S-Tvo/Roof:Mtl CBHvulRoof:Shln Ie + 5.000 CBS- TVP/Roof:Mtl C8S-Tvn/Roof:Mtl --j Actual Ane 2009-AO/EO 1994-A 15/E7 \ : + 14.000 2009-AO/EO 2009-AO/EO ! Condlion Good/New Inferior Equal Enual TOOl IBdon..! To.,IBdrm.1 .-- Tolar ISdrms,1 To.,IBd"..! Above Grade Balhs Bath~ Baths Baths __ Room Count 5 I 3 I 2 6 I 3 I 2 7 I 3 I 2.1 -2,000 5 I 3 I 2 ..- Gross I Mm Area40.00 1 092 so. ft. 1,331 so. ft., -10,000 1 ,383 so. n. -1 2~QQQ. -- 1 ,283 sa. ft. -~ Basement & Finished N/A N/A N/A N/A I Rooms Below Grade N/A N/A , N;A N/A .-. ~~~." Furctional UWitv Adeauate Adeouata Adeauate Adeouate ----.- HeatinaiCooina Contral Ht/Ac Central Ht/Ac Central HtlAc Central Ht/Ac ._- Enerav EII'ICient ttems Standardrrvo StandardlTvn Standard/Tvn StandardlTvn Garaae/Caman 1 Car Garage 2 Car Garaoe -5,000 1 Car Garage 1 Car Garaoe -- PorchlPalio/Deck Porch Porch Porch Porch .~- ~--- Pool,Fence,Etc... None None None None ._- Fironlaco None None None None -- Uno,ades Above Averaoe Inferior +5,000 Eoual Eoual Net Adiustmen;rrot~ Ixl+ I I- 1$ 9,000 I 1+ lxJ- 1$ 25,750 fl+ fXl. 1$ - lS,150 Adjusted Sale Price Net Adj 4.9~1: Net Adj -11.0~ I Net Adj -8.6~ I, of Conmarables GrossM. 21.2% $ 193000 Gross All. 11.0% $ 209 250 Gross Ad!. 8.6% $ 203 850 ITEM SUBJECT COMPARABLE SALE NO.4 COMPARABLE SALE NO, 5 COMPARABLE SALE NO.6 Date of Prior SalefTransfer 7/2008 NIA 712008 712008 Price of Prior SalelTransfer $480,000 tWO) NIA $480,000 (WDI $480,000 (WD) Data Sourcels' See Above Data Sources See Above Data Sources Sse Above Data Sources See Above Data Sources Effective Date of Data Source!sl 7/7/2009 7m2009 7/7/2009 7/7/2009 Summary of Sales Comparison Approach -. --~_._--- --~---~-- --~-~--'-- --- _.~._--~,-- _._----~----------~-- -----_._-_._~ -----~-- .-- ---- -- ------ - _..~- ----~ -~-_.._~---- - .--- --. - --- -- ---.-- .- ----- --.- ---~-- -~-- --- ._---- - - -- -- reddie Mat Form 70 March 2005 Proclllted uslng ACI son-e. 100,23U727 WWW.adweb.com Fannie Mae Form 1004 March 2005 lOO4j15062906 ADDENDUM Borrower BOSQUET, DaIle & Rene! ProDertv Address: 721 NW2nd Street City: Boynton Beach Lender Seaside National Bank & Trust State: FL File No.: 09070701 Casa No.: BOSQUET Zip: 33435 TWELVE MONTH LISTING HISTORY OF SUBJECT PROPERTY A MLS listing history search was performed. This seerch produced pending listing #R2946425; listed on 7/31/2008 for $237,000; subsequently lowered and currantly Iistad for $199,000. This was the only listing found for tha subject, or offer for sale, over tha past 12 months (no expired. cancelled, withdrawn, or off market listings were found). NEIGHBORHOOD DESCRIPTION The subject is located within an established area of mostly older and average quality single family homes that have been adequately maintained. Accessibility, conveniance, time/distance and costs to and from support facilities (schools, shopping, employment, fire & police) is considared acceptable by this market and is typical of competing neighborhoods. The subject property has price/value that is above the predominant value. Although a sufficient number of area homes exist with a similar or higher value their numbers are not sufficient enough to represent the predominant value. The subject's marketability Is not adversely impacted. NEIGHBORHOOD MARKET CONDITIONS The following market trend analysis is applicable to SFRs and TownhomesNillas within tha subject's MLS market area (4330 & 4340). Despite a relatively stabla rate of sales per month and relatively stable invantory, proparty values are declining based on declining median neighborhood sale prices. Tha enalysis of total sales, absorption rate and inventory concludes that the per month supply is stable (In Balance). Merketing time for reasonably priced properties is averaging 4-5 months. Support for these market conclusions is contained in the attached market conditions addendum. ADDITIONAL FEATURES Auto garage door opener, hurricane garage door, security system, impact glass windows, metal roof, ceiling fans, knockdown finish wails/ceilings, 20' ceramic tila on the diagonal in living areas, granite kitchen/bath countertops, wood kitchen/bath cabinets, flat top range, and recessed kitchen and living room lighting. COMMENTS ON SALES COMPARISON Comps 1-4 are recent sales located in or naar the subject's neighborhood. Comps 1 and 2 ara by far the most recent, proximete and comparable sales, thus are weighted highest in the final value estimate. Comp 3, despite its age, was chosan because of Its ralatlve proximity to subject, and because it was significantly ranovated recently. Comp 4, despite its location west of 1-95 (subjact and all other comps are located east of 1-95). was chosen primarily because of its age. Comps 5 and 6 ere active listings located in the subject's neighborhood, and included es support for tha final value estimate. Nota that no racent, proximate and comparable sale as small as subjact could be locatad, thus an across-the-board GLA adjustment was unavoidable and has been appliad. The market trand enalysis of the subject's market arsa revealed that property values have declined approximately 12% in the past year, thus proportional time-depreciation. adjustments (-1 % per month) ara applied to all sales comps which closed prior to 5/2009 (comps 2 and 3). List-to-sales-ratios in the neighborhood are averaging approximataly 95%, thus proportionate adjustments ara applied to comps 5 and 6. Comps 3 and 4, to varying dagrees, ara older and in inferior condition, thus proportional age/condition adjustments are applied. Note that though comp 3 is significantly older, it has been recantly renovated, which is reflected in its effactive aga (i.e. effective aga for a property in average condition is typically 1/2 its actual agel. Comps 3 and 4 have inferior (i.e. less desirable) non-metal roofs, thus a nominal construction quality edjustment is applied. Comps 3 and 4 ara inferiorly upgraded, thus nominal upgrade adjustments are applisd. The use of comparable sales which rasulted in large line itam and gross percentage adjustments (comp 3 only; due primarily to age and size) was unevoidabla. The best data has been utilized. Other sales were considered but they were less similar than those presented and would require lerger percentage adjustments. This appraisal is affixed with a digital signature and was transmitted alectronically to the client in a secured read & print only format. Refer to Supplemental Comment 18 for certification of signature protection. CONDITIONS OF APPRAISAL A current value estimata is made of the basis of a hypothetical condition that the proposed improvements have been completed. No significant changes in market conditions are foreseeable during tha construction period. COST APPROACH COMMENTS Physical depreciation Is based on the age/life or modified age/life method. Functional and/or external depreciation, if present, is specifically addressed in the appralsel report or other addenda. See attached property sketch for calculations of living area and other improvement areas. As the effective age increases, the reliability of the cost approach typically decreases because of the subjectivity of estimating depreciation. The cost approach, whether requested by the client or not, has only been developed by the appraiser as an analysis to support their opinion of the property's market value. Beceuse there Is insufficient market evidence to credibly support the site value/derivation of total depreciation, the cost approach is not given eny consideration in the appraiser's final analysis. Use of this data, in whole or part, for other purposes is not intended by the eppraiser. Nothing set forth in the appraisal should be relied upon for the purpose of determining the amount or type of Insurance coverage to be placed on the subject property (i.e. this analysis is not intended for insurance purposes). The appraiser aasumes no liability for and does not guarantee that any insurable value estimate inferred from this report will result in the SUbject property being fully insured for any loss that may be sustained. The appraiser recommends that A raiser. SuperviSOry Appreiser. Name: Name: ADDENDUM Borrower BOSQUET, Dalla & Renel Propertv Address: 721 NW 2nd Stree: City: Boynton Beaer: Lender Seaside Natlonai Bank & Trust State: FL File No.. 0907070., Case No.: BOSQUE~ ZIO. 33435 an insurance professional be consulted. Further, the cost approach may not be a reliable indication of replacement or reproduction cost tor any date other than the effective date of this appraisal due to changing costs of labor and materials and due to Changing building codes and governmental regulations and requirements. SUPPLEMENTAL I ADDITIONAL COMMENTE 1. This appraisal is for no other purpose other than property valuation, and the appraisers are neither qualified nor attempting to go beyond that narrow scope. Appraisal reports made for lenders are technical documents specifically mede to lender requirements. Casual readers are cautioned about their limitations and cautioned against possible misinterpretations of the information herein. This Appraisal complies with USPAP and, when applicable, to Federal Housing Administration or Dept of Veterans Affairs standards and requirements 2. Because no detailed inspection was made, and because such knowlsdge goes beyond the scope of this appraisal, any observed condition or other comments given in this appraisal report should not be taken as a guarantee that a problem does not exist. Specifically, no guarantee is made as to the adequacy or condition of the foundation, roof. exterior walls, interior walls, floors heating/cooling systems, plumbing, electrical service, insulation, or any other detailed construction matters. If any interested party is concerned about the existence, condition, or adequacy of any particular item, we strongly suggest that a construction expert be hired for a detailed investigation. The appraiser is not a hDme inspectDr. The appraiser provides an opinion of value. This appraisal should not be considered a report on the physical items that are a part of the property. Although the appraisal may contain information about the physical items being appraised (including their adequacy and/or observed condition), it should be clearly understood that this information is only used as guide for property valuation and not as a complete or detailed physical report. The appraisers are not construction, engineering, environmental, or legal experts, and any statement given on these matters in this report should be considered preliminary in nature. The appraiser is not a home inspector. 3. The appraiser is not a termite insfJ8CtDr. The appraiser is nDt an envirDnmental insfJ8CtDr. The appraiser provides an opinion of value. The appraisal does not guarantee that the property is free of termites or environmental problems. The appraiser performs an inspection of visible and accessible areas only. The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental environmental conditions unless otherwise stated in the report. The appraiser is not an ex part in the identificatiDn Df hazardDus substances Dr detrimental envirDnmental cDnditiDns. It is possible that the tests and inspections made by a qualified hazardous substance and envirormental experts would reveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value. Mold may be present in areas the appraiser can not see. The appraiser is not qualified to determine the cause of the mold, the type of mold or whether the mold might pose any risk to the property of Its inhabitants. If any interested party is concsrned about the existence, type and risk of mold, we strongly suggest that a mold expert be hired. The appraiser is not qualified in determining the existence of termites. If any interested party is concerned about the existence, type and risk of termites, we strongly suggest that a termite expert be hired. 4. The structures were not checked for buildil1ll code violations, and it is assumed that all ooildings meet appUcable building codes unless so stated in this report. Well and septic systems. ~ any, are assumed to be in good working order and of sufficient size and capacity. 5. Definition of reasonable marketll1ll time: An estimate of the amount of time it might take to sell a property interest in real estate at the estinated market level during the period irnnedietely after the effective date of the appraisal.llnIess otherwise notad within this report this time is the same as marketing tine indicated for the neighborhood. Exposure time is defined as follows: The estinated length of tine the property interest being appraised would have been offered on the market prior to the hypothetical consulM18tion of a sale et market value on the effective dete of the appraisal; a retrospective estimate based upon en analysis of past events assuming a competitive and open market. Unless otherwise steted within the report. reasonable exposure time is the same as that indicated for the neighborhood marketing time on page 1 of the appraisal report. 6. Personal propertyffurrishings is not considered a part of real estats being appraised. If personal property/furniture is included within a comparable seUiI1ll price and has influenced that price, an adjustment wUl be made. If personal property/furniture is Included in the subject property sele price it is not considered in this process. The refrigerator and washer/dryer are typically considered personal property unless otherwise notad. 7. The software utilized by Appraiser to generate the appraisal protects signature security by means of a digital signatura security feature for each appraiser signing the report, and each appraiser maintains sole control of their related signature through a password. hardware device, or other means. Appraiser is fully responsible for the integrity and authenticity of data and signatures transmitted electronically and will hold the client named herein (1004 report. page 1, subject section), (to be here now known as .client") harmless from and against eny breach or faUure of data integrity, signature authenticity, or breach of data security. Adobe's Cistiler software or equivalent is utiDled by the appraiser to tranamit this encrypted PDF formated appraisal At a mirimJm. the software contains the following security measures: Identifies transmission errors during the transrrission process and, confirms date, time and quentity of data submittad by Appraiser and the date, time and quantity of data received by the client, and secures data from editing by means of a password, hardware device, or other means that remains in the sole control of the transmitting appraiser. All such transmissions shall be routed only to the cUent at the smail address provided in the assignment request et the time the order was placed. unless subsequently directad otherwise by the client. Appraiser agrIBS thet no such subsequent transmission wiD result in additional fees biUed to the cUent, unless agreed to by the client before said subsequent transmission. No duplicate transmission of this report will be made and no delivery of a hard copy of this raport will be made, untH appraiser has received the client's written instruction thereto. 8. From time to time photos of the comparable sales land/or listings. if applicable) used in this report were taken from the Multiple listing Service (MlS). These MlS photos have been taken at the time of the listing, prior to the cIoaing of the sale and best reflects the condition of that comparable sale at the tine of sele. Photos taken by the appraiser can be 3,6 or 12 months after the sale and mey not reflect the way the property eppeared when it solllln other instances. an acceptable photo may not be aveilable from the street due to (but not limited to) privacy wals, ftnClng, traes/bushes, or houses set back from the road on lerae acreage parcels. Even though the appraiser may not have taken e photo of e cOll1larable, the Scope of Work Item (31 stll applies as the appraiser cert~ies thet he/she has personally inspected the exterior of an properties listed as comparables in the appraisal report. 9. The Intended User of this appraisal report is the lender/CUent. The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage A raiser. Supervisory Appraiser. Name: Robert L. Peyton Name: ADDENDUM Borrower. BOSQUET. 08110 & Renel Property Address: 721 NW 2nd Street City. Bovnton Beech Lender. Seaside Nationei Bank & Trust State: FL Fiie No.: 09070701 Cese No.: BOSQUET Zip: 33435 finance transaction. subject to the stated Scope of Work, purpose of the appraisal, reporting requirall'8nts of this appraisal report form, and Definition of Market Value. No additional intended Users are identified by the appraiser. Robert L. Peyton SuP8Nlsorv AJ:Irlralser. Name: l"tle pwpose of this addendum is to provide the lender/cltelll with a dear and accurate understanding of the market trends and conditions prevalAnl in Ihflc s!lbr<->,' neighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1. 2009. perty Address 721 NW 2nd Street City Bovnton Beach State FL Zip 33435 er BOSQUET ctions: The appraiser musl use !he ,uformation required on Ihis form as the basis for hislher concluNons, and must provide support for those conclusions, r.,gardlllt, using trends and overall mar1<et conditions as reported in the Neighbortlood section of the appraisal report fonn The appraiser must fill in all the informatlO'1 to lhe exlerl 'I avadable and reliable and must provide analysIs as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide ar II!lnaoon. If data sources pro....ide the required infonnalion as an average instead of the median, then the appraiser should report the aV8~able figure and identify it as 81\ vomge. Sed~ and listing:;; must be properties that compete with Ihe subject property, determined by applying the criteria that would be used by a prosper:lrve buyer <.f {'"It ubject property The appraiser musi explain an'! anomalies in the data, sllch as sea50nal maric:ets, new construction foreclosures, etc Inventmy AnaIY$i~ Prior 7.12 Months Prior 4-6 Months CUlTent . 3 Months Overafl Trend i iTotal # of Comparable Sales (Settled, 20 20 15 Increcmng Stab~ Dedining I fAbaorpuon Rate {Total SaIesltv1onths\ 3.33 6.67 5.00 increasing Stable Declining 1 Total # of Comparable Active Usting~ 221 160 141 Oeclning Steble Increasing l tAonths of Housina Supply (Total ListingsJAb .Rate) 66.37 23.99 28.20 Oeclinina X Stable Increasing l MedIan hie & Lilt Price, DOM, list/Sale Ratio Prior 7.12 Months Prtor 4-6 Months. Current - 3 Months Ol/eral Trend I Ltedlan COfI'II:larab)e Sale Price 112980 10A!:l13 99455 ]lncre...,g Stable Declining Median Comparable Sales Days on Market 114 116 156 ::JOeclining Slable Increasing Median Comparable LEt Price 121230 116765 103625 Ea~g Stable Dectining Median Comparable Listings Days on Market 256 245 187 Rnina Stable Increasing Median Sale Price as % of List Price 93.19 93.28 95.98 linino stable Increasing Settar~(d8V.loper, buikler, el.C.)pakl financial assistance prevalent? ~ Yes 0 No I Ooecllning Stable Increasing Explart in detail the seller concessions trends for the pesl1? months (e_g., seller contributions increased from 3% to 5%, increasing use of buydowns, c1o!'ling com:,;. mod" fees. options. etc.) Seller concessions are prevalent and relatively common at present, and are often necessary in order to move inventory. Seller concessions are typically 3-6% of the purchase price. Are foreclosure sales (REO sales) a factor In the market? 129 Yes LJ No If yes, explain (including the trends In listings and sales of foreclosed properties) There Is a significant number of bank-ownedJforeclosed/short-sale properties recently sold and currently for sale in the subjects market area. This has contributed significantly to the decline in property values in the subjects market area over the past year, and could potentially contribute to a continued decline. Cite data sources for above information. MLS, Realist & Public Records. Summarize the above Information as support for your conclu8lons in the Neighborhood section of the appraisal report. loon, It you used any addltionallnformatlon. such as an analysis. of pending sales and/or expired and withdrawn listings, to tormula1e your conclusions. provkie both an explanation and support for your oondusions. A summary of the above information supporting my conclusions can be found In the Neighborhood Market Conditions section of the report. Only the above Information was used to formulate my conclusions. If the .ubiect is _ unit in _ condominium or ~reIiv. Pf'Cliec:t , carna oI. the 101_..." Prajoct Me..., Sub""" Proioocl. Deta Prior 7~ 12 Months Prior 04-6 Months Current ~ 3 Months averal Trend Totol' of Companlble Sol.. (Settled) Increaeing Ist.bie Declining Abs<<pIIon RaIe (Total SoIesilo.4Dntha) __no Stable Declining Total. of Comparabl. AdJve UsUngs DocUnlng Ist.bIo increasing lAonlhe of Hooolng Suoply (T 0181 Listlnge/Ab .Rate) Isuoble In<reaeina Are rorecIosure sales (REO sales) a factor In the project? UYes UNo If yes., indicate the number of REO IIstftgs and expleln the trends In Nstings and sales of 1orecIosed properties. Summarize the above trends and addre6s the Impact on the subject unit and project. 1~'1.. f+ ISlnnature .... pratser Name Robert L. Pevtnn bra_r Name nv Name Peyton Aooralsals Compen. Nome ,nvAddress 6279 Terra Rosa Circle Icom..n. Add.... L.iconooICert_. RD8182 Stale FL lSt.t.. Lk:_Celtf'...Ilon. Stale I Add_ P a1sAltlmlbelsouth.net 1EmoI_ Market Conditions Addendum to the Appraisal Report File No. 0907070' Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009 Produced uslMQ Ael sdlwart. 800,234,8727 WW\Ij,actwtb com FllI'mEDOC FLOORPLAN Borrower: BOSQUET. Delio .. Renel Property Address: 721 NW 2nd Street City: Boynton leach lender: Seaside Natlonel Bank .. Trust I Porch f.,. 7.7' M arn Iledroom State: FL 19.8' Main Bath File No.: 09070701 Case No.: BOSQUET Zip: 33435 U ving Room N M Bedroom Dining f.,. ....i Bath V 8.7' Kitchen laundry ~ .-t l-C .f Ll! .-t Garage Foyer 0 Bedr-oom 3,5' N 10.7' C-D1'I'ltH'ats: GIoA1 fI' - 'm:l NetuvlilJe_ (~:irf ~I.;M~~__*,H.), ,_..n'.~'.'"~.; f... '.~.k';. ....' '-',.:.:.;:>,."""" "".""",""1"', .. .. ..'x';" . . ,... . .-. . - ,... .,'..,...., . . ..... . '.t.... 0.5 a 11.7' . ..~.,. . .c~"'. ' 'i'" 0.1 a O.l a ....... ;'2. '.lI It l., a '..0 a ;;, :it ... ... 1.1 ... .AI ... CIS 1.1 ." 2A all4 i'la " all lit;. .. 6279 Terra Rosa Circle, Boynton Beech, FL 33472 Tel: 561-901-4609 Fax: 561-734-3458 SUBJECT PROPERTY PHOTO ADDENDUM Borrower: BOSQUET. Dalla & Renel File No.: 09070701 PropertY Address: 721 NW 2nd Street Case No.: BosaUET City: Boynton Beach State: FL Zip: 33435 Lender: Seaside National Bank & Trust If"" ') FRONT VIEW OF SUBJECT PROPERTY Appraised Date: July 8. 2009 REAR VIEW OF SUBJECT PROPERTY :) STREET SCENE :) Borrower: BOSQUET, Dallo & Renel PropertY Address: 721 NW 2nd Street City: Boynton Beech Lender: Seaside National Bank & Trust COMPARABLE PROPERTY PHOTO ADDENDUM File No.: 09070701 Case No.: BOSQUET State: FL Zip: 33435 (' ,... (... COMPARABLE SALE #1 717 NW 2nd Street Boynton Beach Sale Date: 5/2009 Closed Sale Price: $ 235,000 COMPARABLE SALE #2 709 NW 2nd Street Boynton Beech Sale Date: 2/2009 Closed Sale Price: $ 223,000 COMPARABLE SALE #3 220 SW 1st Avenue Boynton Beach Sale Date: 4/2009 Closed Sale Price: $ 199,900 Borrower: BOSQUET, Delio & Renel Property Address: 721 NW 2nd Street City: Boynton Beech Lender: Seaside National Bank & Trust COMPARABLE PROPERTY PHOTO ADDENDUM File No.: 09070701 Case No.: BOSQUET State: FL Zip: 33435 l COMPARABLE SALE #4 716 SW 1 st Avenue Boynton Beach Sale Date: 6/2009 Closed Sale Price: $ 184,000 COMPARABLE SALE #5 210 NW 7th Avenue Boynton Beech Sale Date: Active Listing Sale Price: $ 235,000 COMPARABLE SALE #6 713 NW 2nd Street Boynton Beech Sale Date: Active Listing Sale Price: $ 223,000 ( .. (.... (- PLAT MAP Borrower: BosaUET, Dallo & Renel Pro Address: 721 NW 2nd Street City: Boynton Beech lender: Seaside National Bank & Trust I I State: FL File No.: 09070701 Case No.: BOSQUE, Zip: 33435 ~':':~'~-ll ~ REG7m . .~ I ~ ~ ~. I I po.'fT"'" i l1.Cll~ J ,~._.-r= -,.' I"~" . "'~I' ~...... ~ I '~:::"-'-';'::;-'-'-'" C"15/IO.al 1Ma I t I I}( I I I{ :.J: i ,) j ~ I ~ ;' ..- -.-LIf....& :....r.aJl. I 1'-' ~~.: lU) / ..", ~.~ ...""",.-. "..... .~..i ~~ ...~lll.l ftJ ,., '\ .I . DIi'lO. - .. . . ~~_____ \ / I ;; I II lIl.llfioo)'" !i I ..:"""'---._ -- .1. .. t '.J _..:1 -.- ....J ."-:J i cU '.. ~ -'.~ ~ -'-'-'-'-'-''--'-) C::J 1MJ.,!;;'" Subject nlll,;'''''"' ~ ,.... .....'1 ~.-.nO'I , ;;0"'11 J ~/....~ ~ DlIlO I - h I .~..& L...,j tJl J '/' ~ _I 1310i' I t1:~': i. ~ ~~' ~ (i j ~! . J:1 ._~ ~~ ". ~"'l..l 11m ~!./::.. 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I r f t h , i t ~J) :": ~~. :II~..-: ~-:--....... .--..... ._.l1A.- i . . , __...ll ...O~ \ ""~ '.~. llIa ~ -.-1' .... . . ...........-.-.-.-.- ....~ . ,,~ . r- ,_. .. .""'''' I ~'~ =I'j ~IOC: //~~.i I .-[;[-1-;1. i;~r ~j) '"'__ ; ',~'i-';,?!"~; ! ,...; .) W10 - I / ~ Ii !'!f J..- r. . 1 DOlO) -0", ~:".' ~.' .. "JlJI I 1 ri3lJ - 1211lJ I IlMIlali' I . ~ .j I I I o-jL.~..:o it 111__' I .__..;;1 ~l ,,/ '*-! !.~ = ~j i I '~.., I j, " .T 6279 Terre Rosa Circle, Boynton Beech, Fl 33472 Tel: 561-901.4609 Fex: 561-734-3458 \.\ - .;( II I I I i " Ii .11 l>,W,STIrli.....,. . ---,--' --NWc13Tl-l f1 I I' J J ,",-.1 j I II ~. I, ' i' i, 'II L_ 1M'~~!nl .-. IJ i II ~ N'i'!llntWAV~.... ~ i'l ~ c:..~lIr:'! '; ~ Ii .~~ ,h g i I m I (It NWWI~'1AY l;) '.:--ifrv~; ~ ,J I ~ ~ ~ K\"/~H _'~=C--_l1'=~'il~~'Ro \ 'I,'"." IfW .~H ~ .J~ ~ -~' r~: .-/. Comp J ~ ,,0 f/j -165'" hI A.\~e . >_. - I mn ,..u.-.U....-- '. - .' I. 11'11 =- l~~(Locatedto S~) I \.~tJftE 'I ~'. ~ .t. I i r- l-~~ ~ ~ i. =o..d: i I - i . 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Co> fi '" J Flood Zone Map ( ~ Borrower: BOSQUET , Dallo & Rene' p~ope~ Address: 721 NW 2nd Stree', CItY: Bo nton Beech Lender: Seaside National Bank & Trust I State: FL File No.: 09070701 Case No.: BOSQUET Zip: 33435 .' .~ ~ ',c~ tQ "W z dI ~ .c: ..... u') W' Z :\ 1 I I I I \ \ ..11 ~'Q .,Ji:~ ~ tf .~ ~g .ouz 3N es1 BI~ ( "' 'Ij 2: a:1, Ie U ! .c: i$ ~ z J t;[l. i:[I i:[I ~ ~ ~ ~, ~ ~ ~ "=t i NW 41\1 .S1 .~.. ~. ~ :z ~ o..lW"'3ro "S\ 'ii, . ~ ,~ Galaxy\flJ3y. .c: . .... to. ~. rz 51\1 S1 '. - 't!- '. ~~G.I '.' ~., ~."". "~. . -c:. ('-01 - . (.... . \ 6279 Terre Rose Circle, Boynton Beech. FL 33472 Tel: 661-901-4609 Fax: 561-734-345B License 1 Resume Borrower: BOSQUET. Delio & Renel Property Address: 721 NW 2nd Street City: Boynton Beach Lender: Seaside Natlonel Bank & Trust State: FL File No.: 09070701 Case No.: BosaUET Zip: 33435 I{ohl'n ,. ;. c, " "t~l~-( '.t1ifitd H"'ldn,H~1 '\rrnm... 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FRr.~\R 1 d.;.."("jl!'4:d Rc... ,\Pf:,':t:....il C.'flj;",; , :-;5 Itl1v;. lICF1\S....," ASSO('14T10V, ~tal.::J... CHlfkd f_::~:~b!fl;;! '\r';~i1'!-:' .......Il (11 t I. ',;' "I) ,I"l fIlA AI'I""",,' A,,!'PR.u5.\L DU'utn.J\U: tt. '2;~'t" X'2IHI~ it '1(1{t'7 ~ll~C' COI,~lIL~ ~fkYrrl F?~nJ &t:.1. C(lli~iJ," nDri.:. J lH1\~lm~ t (fun~~. fk.nd: .~(h. \, ,': 1.1; i 1 . ~<' ',., Fl. :"':'1 f" STATE Of FLORIDA DBPASt'lMENT 0,. BUsrJlUS.1.ND PROPES!J:IQNAL UcroLATION . . l"LOI~ fIDj, UTA1"1t Al>PUIltMoan seaM L061Il170lt\D3 -' P~. .LU 627' .. . '! SA 'CUCLE 8OnrroI\1 B FL 33437 ~ST '..~.. l;.\ '):".",,; [I,'"'l"l tl ~'. :...~cl~l"j;.:l:.', "llf!IIU; :-..t,Kis.50::~, ~,-,!2t.lIJ~ ~i:;.K1.Ssud~ 1 ~U?(~1, ~t ~f;:."t;"So1<:J l~,,\~HlIk fluid ft.H~! f~iJfC5:JOJ.&.:lJ ;J;JDC~j - 'I' (I~l~d CO,J'..-! f1ure-~':'lr:.lt:11 S:,;,fI'J('tt5 1 I >. >:,1' (It,'d (/);~:: f'tlJft-";'i.'it~lJ;tl rs,~:I'')'''''t j j~"'n:, Ou:d CO:t'i1 ?rofcssi'Ollzl :';:;D~.I'. - ; <""-"11.1 P..'./ P.ngr.-n: SdKUlb - ~.',J. '\')~ ~\.:7t t-:.Qgl.'r:; s.:1\\~,+.:- -- u:.~, f II b.Ct~ k.il~rs: &iIool.-! - 'N'!. ~Il B,r. P.oge" ld!oob wn,'~ Ocr-; Rc~;rs. S:.~tl~~")t!; yt;":t1I: l~('r: t<o-gers ScbDt'lh " 'H2lJH-i G~lrd Co.J4t ('ri1(c~5.!('1! 11 ~,.:l1f'IJJf'" ,. '/ l.:n";,.."l, A[1;~;;:U3..1l~, in..... PoJlIl1 Hc~.,;:! i..r-r:,":,T' L '.1 .1. \.~!i';,;l,,):,. l)tjn;-1)('l)iJl~'71) r""I:!f!!' r :'1:'1, I D,,~V_-"S~~~[)'~x.~W CltARLts 1<1. DRAQO S~E'1'ARY ~ 6279 Terra Rosa Circle, Boynton Beach, FL 33472 Tel: 661-901-4609 FIX; 561-734-3468 ~~~<tY~T8~:CRA ill East Side-West Side-Seaside Renaolssance eRA BOARD MEETING OF: July 14,2009 I I Consent Agenda I I Old Business IX I New Business I I Legal I I Other SUBJECT: Boynton Beach CRA Case Study - Affordable Housing Tools at a Glance - FRA SUMMARY: The Boynton Beach CRA's housing initiatives were used as a case study in the attached Florida Redevelopment Association publication, "Affordable Housing Tools at a Glance". The purpose of the publication is to provide technical assistance to other CRA's throughout the State to provide, preserve and create affordable housing opportunities. FISCAL IMPACT: None. CRA PLAN, PROGRAM OR PROJECT: Florida State Statute 163.33 ENDA TIONS: Informational only. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\7-14-Q9 Meeting\FRA Houslng.doc - - - - - - --WO::.,_7'::':"7'-_<'..~ ,.,. .., .. '.' i.. AFFORDABLE HOUSING TOOLS AT A GLANCE .:; Practical Experiences, Lessons Learnedr and Successful Advice . I., \f", :; :; Florida Redevelopment Association !!f,li\l!t>>", '.~ Copyright @ 2008 by Florida Redevelopment Association All rights reserved. No part of.t~s book may be reproduced in any form or by any means, electronic or mechanical, including photocopying and recording, or by any information storage and retrieval system, without written permission of the publisher. 1 J ,j i Florida Redevelopment Association 301 S. Bronough Street, Suite 300 Tallahassee, FL 32302-1757 (800) 342-8112 I (850) 222-9684 Fax: (850) 222-3806 ~ ~ <, i" J A I ,<, ~.i James Carras, Executive Advisor and Contributing Author Rebecca J. Walter, Chief Author and Researcher Mandy Spangler, Managing Editor Kai Karmano, Graduate Research Assistant if'j?'}~t~~~~~~TI.sr:':':..:k~h':::~~f'~~,~,j' -~",,;;, As Chair of the Florida Redevelopment Association's Housinf Committee, 1 am pleased to provide you with ,our "Housing Strategies in CRAs" publication. The publication is targeted to our members and others who seek to identify and create strategies for building better communities, As our nation and Florida's communities confront the most challenging economic climate in recent history, the Florida Redevelopment Associa,tion remains committed to redeveloping communities. The Housing, Committee was created in 2008 to help address and better understand affordable and workforce housing initiatives in our Community Redevelopment Areas (CRAs), Now, the housing picture has never been more perilous. With housing prices, despite the recent decline in values, having outpaced income growth for decades, affordable housing - for the workforce who seek to own or rent - has slipped out of reach. A variety of initiatives have emerged during the last several years to address the housing crisis, particularly in Florida's Community Redevelopment Areas. These initiatives, as outlined in this publication, range from policy and program development to the creation of new initiatives such as public private partnerships and community land trusts. The publication offers new strategies for redevelopment officials that were successful during the "real estate boom" and can be used to help address the foreclosure crisis and continued affordable and workforce housing needs. We have included three detailed case studies, practical tips and many solutions that have been proven successful. ~~ James Carras Chair, Housing Committee .. .~l,. '~.rr' - ..,;,- . I, ' ~'.. "J . _. ":,,-',"';.:r; 3 --L1 .-" -~.. ":._~j:;:::~J:~~:~1f{i;'~F~fe.~?i, 1:~ Overview T he Redevelopment Act of 1969 authorized the creation of Community Redevelopment.. Agencies (CRAs), which allowed local governments to designate a district as a Community Redevelopment Area under Florida Statutes Chapter 163, Part III. CRAs are created when certain conditions exist (i.e. the presence of substandard or inadequate structures, a shortage of affordable housing, inadequate infrastructure, insufficient roadways, and inadequate transportation and parking facilities). To demonstrate required conditions exist, local government assesses the proposed redevelopment area and prepares a Finding of Necessity, a detailed study that outlines the conditions of slum and/ or blight within the defined jurisdiction. The State of Florida allows local governments to use increases in property tax revenue to finance the necessary public investments in CRAs. Since all revenue is locally generated, CRAs are not governed by the state but rather are overseen by a board established by the municipality. With the help of CRA staff, the board prepares a Community Redevelopment Plan that governs the activities of the area. Community redevelopment means undertaking activities or projects for the elimination and prevention of slum and blight, for the reduction or prevention of crime, and to provide affordable housing, whether for rent or for sale, to low or moderate-income residents. As stated in Florida Statutes Chapter 163, NIt is further found and declared that there exists in counties and municipalities of the state a severe shortage of housing affordable to residents of low or moderate income, including the elderly; that the existence of such condition affects the health, safet)r, and welfare of the residents of such counties and municipalities and retards their growth and economic and social development; and that the elimination or improvement of such condition is a proper matter of state policy and state concern and is for a valid and desirable public purpose." Although not always interpreted as mandatory, the development of affordable housing is a requirement under Florida Statute for Community Redevelopment Agencies. .~ . .J;!~~:L~.';'"--:A=::;-:',~ . ~ 4 ~ .__--4,i1'5N.,~ ..- IllHBII."1Ill ~~j'i Overview How can CRAs meet the Florida'Statute requirement for providing affordable housing within their legally defined jurisdiction? CRAs can learn from the successful activities others have undertaken to increase the number of affordable units available. A survey was distributed to all Community Redevelopment Agencies in the State of Florida for the purpose of obtaining an initial assessment on how affordable housing has been addressed in redevelopment areas. The types of questions asked in the survey were as follows: .. How do you define workforce and affordable housing? .. Is there a demonstrated need for workforce/affordable housing in the CRA? .. What role has the CRA played in the development of affordable housing? .. How has the CRA funded workforce and affordable housing? The survey produced the highest response rate the Florida Redevelopment Association has received to date; approximately 40% of the CRAs responded. Some of the key findings of the survey include: .. Priority: Affordable and workforce housing was a top priority for 32% of the respondents; however, 70% of the CRAs responded that there is a need for affordable units within their jurisdiction. .. Location and Capacity: In generat the CRAs that are addressing affordable housing issues are in urban areas with budgets over $2 million. .. Activities: CRAs provide funding (53%), facilitation (42%), technical assistance (30%), and research (18%) for affordable housing projects. .. Funding: The sources of funding for affordable housing assistance included CDBG, SHIP, HOME, and TIE The data in the survey indicates affordable housing activities undertaken by CRAs can be best described within two separate frameworks: site specific activities and programs that help facilitate the production and preservation of affordable housing. ~~i.':-c.,::~_.", ,-c_,.:..: .~ ~' '." - .......:~"..,:: ~i ' _. ~,'" -'; 5 ~.~'i.:!,"-".,._ ,. ,..,~~ L Site Specific Activities A number of CRAs across the State of Florida have increased the production of affordable ~ts for low and moderate-income families by participating in site specific activities. The site specific activities outlined in this section include: .. Land Acquisition and Assembly Miami Beach eRA, through strong political'leadersl1ip, has notably used tax increment financing for acquisition of land to enhance economic vitality through historic preservation and by providing affordable housing. .. Forming Partnerships The Orlando CRA is an outstanding example of how the formation of partnerships can be instrumental in producing affordable units. .. Down Payment Assistance The Lake Worth CRA is offering $50,000 in the form of down payment assistance for City and CRA employees for Hammon Park, a residential for-sale workforce housing transit-oriented redevelopment. ~ Reduced Permit Fees The Mount Dora CRA has reduced permit fees for approved non-profit affordable housing providers, such as Habitat for Humanity and Homes in Partnership, for the construction of new single-family homes affordable to low and moderate-income families. ~ Site Remediation The North Miami eRA is currently paying for site remediation, including the removal of environmental contamination and asbestos abatement, for an affordable housing project. lFt'l_"~-~i'~};:t~'fS~.':',~;K'i~f;.~':' ~/ . ~' l"':; '-c,i~ .:;;.~ 6 ~ JII~t_~~~~{~;:;~'~~A:"!1k:': Land Acquisition and A.ssemblY OescriotiorL Land acquisition and land assembly can be costly for developers and is often a key barrier to provid.ing housing units affordable to low and moderate-income households. Recognizing that land costs have increased dramatically, especially during 2000 and 2005 where the cost of land in some Florida communities tripled, CRAs began purchasing land and assembling contiguous parcels for the development of affordable housing. Some CRAs have sold the land at or below market rate to private developers with the stipulation that a certain number of affordable units were required to be constructed. Others have given the land to non-profit developers or have transferred the properties to a community land trust. eRA in Action The Miami Beach Redevelopment Agency has encouraged economic development in blighted areas since 1973. Miami Beach, through strong political leadership, has notably used tax increment financing for the acquisition of land to enhance economic vitality through historic preservation and by providing affordable housing. The Miami Beach Community Development Corporation, in collaboration with the City of Miami Beach and City of Miami Beach CRA, purchased three lots, the historic Allen Apartment Hotel, London House, and Barclay Plaza Hotel for $13.7 million using ta?< increment financing (TIF). The historic properties are being renovated to provide a number of efficiencies including studios, one, two, and three bedroom units. When complete, the restoration of the three historic properties will create 87 affordable rental units for low and moderate-income residents of Miami Beach. 7 ~~"'" _--.J~"'''-''-V~ Forming Partnerships Description ' '. The formation of partnerships has. 'been critical for the development of successful affordable housing projects. Although each partnership project is unique, CRAs can establish successful partnerships with private developers, non-profit organizations, and their local municipality. eRA in Action The Orlando CRA is an example of how the form.ation of partnerships can be instrumental in producing affordable units. The Affordable Housing Task Force is a partnership between the DDA, CRA, and the City of Orlando and the CRA partners with the City of Orlando Housing Department on all residential developments. The strong partnerships formed in Orlando has been an essential variable in making three developments possible: Carver Park Redevelopment, Callahan Square, and Parramore Village Redevelopment. When complete, the projects will add approximately 175 affordable/workforce housing units to the community. Down Payment Assistance Description Down payment assistance provides qualified low and moderate-income buyers interest-free or low-interest loans, which can be used for a down payment or closing costs. A number of CRAs have provided down payment assistance for specific affordable housing projects. Typically, a certain percentage of the principal balance is forgiven each year that the homeowner remains in the home and if the original owner remains for a specific period of time the loan is forgiven. CRA in Action The Lake Worth CRA is offering $50,000 in the form of down payment assistance for City and CRA employees for Hammon Park, a residential for-sale workforce housing transit-oriented redevelopment. 4~"DI!h~;l.,'ji&!T. R .,l~.._~= ~,'!\I!!~i:~;" Reduced Permit Fees DescriptioL Similar to all other developm~nt costs, permit fees add to the total cost of housing. Developer incentives can lower. the cost of residential construction and make affordable housing development more feasible. In order to make affordable housing projects more attractive to developers, CRAs can offer to reduce the permit fees associated with the production of affordable housing if the fees are paid by another source - TIF, Enterprise Funds, etc. CRA in Action The Mount Dora Community Redevelopment Agency, a lake front community in Central Florida, has invested its tax increment revenue into the construction and maintenance of public improvements and other redevelopment programs since 1989. The CRA has reduced permit fees for approved non-profit affordable housing providers, such as Habitat for Humanity and Homes in Partnership, for the construction of new single-family homes. To date, the CRA has reduced permit fees for 50 single-family homes that were constructed for households earning below 80% of the area median income. Site Remediation Description Site remediation involves the clean up and removal of hazardous waste from a lot. A few CRAs have participated in and have paid for site remediation for affordable housing projects. CRA in Action The North Miami CRA, in collaboration with North Miami Housing, Ltd., is building an affordable housing residential condominium project called Pioneer Gardens at North Miami. The land was transferred to the CRA from the City of North Miami, and the CRA is currently paying for site remediation, including the removal of environmental contamination and asbestos abatement. When complete, Pioneer Gardens will contain 136 affordable 3 bedroom, 2.5 bathroom units priced in the mid $200,OOOs. 't~";::',::S:%i,:'Hti~~~~rQ:~~;:L;'';;'8'',_:': ;l.',!:l h 9 . 1I1IAlt.dR '-':'; Programs A number of CRAs across the State of Florida have increased the production of affordable units for low and moderate-income families by establishing programs that are operated and funded by the eRA. The programs outlined in this section include: ~ Residential Improvement Programs The Miami eRA has a grant program that was created to assist owners with the rehabilitation of residential rental units. In turn, property owners are required to record a restrictive covenant assuring affordability for five years. ~ Homebuyer Assistance Programs The Hallandale CRA Affordable Housing First Time Buyers Program, assists first time homebuyers with the cost of construction on a new single-family home or with the purchase of an existing home, condominium, or townhouse. ~ Dedication of TIF The Sarasota CRA Governing Board followed the recommendation of the Advisory Board, and by a 5-0 vote, set aside one third of tax increment financing (TIF) for affordable housing. ~ Urban Infill Programs Through the Affordable Housing Home Construction Program, the Central County CRA has undertaken a 98 single-family affordable housing urban infill project. ~ Technical Assistance Programs The Northwest-Progresso-Flagler Heights CRA has been instrumental in providing technical assistance for affordable housing developers. ", .c" ",.., ~.~ 10 "'L~'~~", Residential Improvement Description Many communities have an increasing supply of aging housing stock and sub-standard units. The upkeep of old housing can be very costly for many low-income homeowners, especially seniors who often rely on fixed incomes. Some CRAs offer homeowner rehabilitation programs to low and moderate-income households to assist with repairs. Assistance is often provided as low-interest loans or in the form of a grant. eRAs in Action The Miami CRA has a grant program that was created to assist owners with the rehabilitation of residential rental units. In turn, property owners are required to record a restrictive covenant assuring affordability for five years. The City of Miami Board of Commissioners recently authorized a grant in the amount of $165,000 to JINT Holdings, LLC to rehabilitate a rental property. The tenants at the property were relocated during the three month renovation. In exchange for the grant, JINT Holdings, LLC executed a restrictive covenant assuring affordabiIity for five years. The Chipley CRA has purchased existing sub-standard residential properties and has donated the lots to Habitat for Humanity and other non-profits to rehabilitate. The CRA also sells lots that need improvement and provides incentives to private individuals and developers that will renovate the properties. The City of Holly Hill CRA promotes the rehabilitation of residential units through a matching grant program. The Redevelopment Agency offers a matching grant for single-family homes to improve the property's exterior appearance. During the 2006/2007 fiscal year, 6 grants were approved by the Holly Hill CRA. ~' 11 ,.;,_:;;, .'F~':'f~'t:.T:',~~;:; Homebuyer Assistance Description For many buyers, the number one obstacle to homeownership is the down payment. Homebuyer assistance programs target the buyers instead of increasing the supply of affordable housing. Homebuyer assistance programs provide down payment assistance to help with housing payments and closing costs. CRA in Action The Hallandale CRA has an Affordable Housing First Time Buyers Program that is managed by the CRA director. The program assists first time homebuyers with the cost of construction on a new single-family home or with the purchase of an existing home, condominium, or townhouse. The CRA provides $25,000 to $35,000 that can be used to purchase a lot or used for construction costs and closing costs. An additional $5,000 is available for public service applicants and City employees. Dedication of TIF Description In order to show their commitment to affordable housing, CRAs can dedicate a portion of tax increment financing (TIP) funds to affordable housing projects. CRA in Action The Sarasota CRA Governing Board followed the recommendation of the Advisory Board to appropriate approximately one third of the TIP funds for affordable housing as the balance increases over the next several years. By a 5-0 vote, it was decided to set- aside one third of TIP funds for affordable housing during the Special Sarasota Community Redevelopment Agency Meeting held on November 20, 2006. Originally it was estimated the set-aside would generate approximately $10,000,000; however, given current market conditions, the total amount generated is expected to less, around $5,000,0000, a substantial amount to be dedicated to affordable housing activities. The Sarasota Community Redevelopment Agency. is currently searching for eligible affordable housing projects. ~"WEi!'i.ilE'''~~~''~~>;~,\5j'~ 12 .l<~c.~~j~fig~~l.~~ft~~. Urban Infill Description Infill housing development is used to encourage the development of vacant land and the redevelopment of blighted properties. Developer incentives are often used to help reduce the cost of residential development since infill development can be costly. Incentives that encourage residential infill development and make the inclusion of affordable units more feasible include upgrading local infrastructure, adding public amenities, and reducing impact fees. CRA in Action The Central County CRA has an Affordable Housing Home Construction Program which includes a single-family urban Will project that is being completed in a series of phases. A total of 98 units are part of the program and 19 units have been completed, while 15 are underway, and 64 ate pending (i.e. agreements with developers selected through an RFP process are pending approval). Technical Assistance Description CRAs can provide technical assistance by offering financing strategies for affordable housing developments, advice on the construction process, and direction on the due diligence process, including site assembly and pre-development. CRA in Action The Northwest-Progresso-Flagler Heights CRA has been instrumental in providing technical assistance to affordable housing developers. The CRA works with each developer on structuring deals that can be funded, provides the expertise of the CRA and other city departments to make sure each project is within the reach of the existing real estate market, and facilitates the coordination between developers, elected officials, and the community to build consensus. ~P"~~ ~:,~;",,\::::it:' ..;..,_L2~:'~.'r"..c J..:'~'4~ 13 ~,-~".,~\tr~~ilt;~~~r~~i1~''ri, ~1:~!~{'4r~~TI.~ Case Studies Three CRAs have used a number of vehicles, both site specific activities and programs, to.increase the production of affordable housing. The CRAs outlined in this section include: Boynton Beach eRA .. Programs Homebuyer Assistance Program Direct Incentive Program for Workforce Housing Residential Improvement Grant Program .. Site Specific Projects Ocean Breeze The Preserve Winter Park eRA ~ Programs Affordable Housing Trust Fund and Linkage Fee Hannibal Square Community Land Trust Housing Rehabilitation Program ~ Site Specific Projects West Comstock Development Canton Park DeIray Beach eRA ~ Programs The Delray Beach Renaissance Program Delray Beach Community Land Trust ~ Site Specific Projects Atlantic Grove La France Apartments Caroer Square Neighborhood ';;~',E';{y~j:~~; -<11.-: ',~ ;,>, <1,~' ':~(:f.. 14 ~~f:1",f:~t,'f. .g4~i,~:~;-;1~~~'i,,~~j~~:tA;;: Boynton Bea:cdf) C~:f~j~\ Overview The City of Boynton Beach and the eRA recognized early on that the Heart of Bovnton was suffering and neighborhood revitalization was necessary for the well being of the entire community. In 1998, the City of Boynton Beach adopted the 20/20 Redevelopment Plan which focused on revitalizing the downtown core. Implementation of the 20/20 Plan included the Heart, of Boynton Community Redevelopment Plan in 2001. The CRA realiz;ed that the future economic vitality of the community depended on an adequate supply of' affordable housing for low and moderate-income residents. The City of Boynton Beach and CRA wanted to ensure that revitalization of downtown would not displace the community. Creating housing opportunities became a top priority within the CRA to prevent the relocation of long time residents. Two bonds were issued in 2005 to initiate the goals set forth for the Heart of Boynton Beach. A $3 million Tax Increment Revenue Bond, Series 2005A, was issued and another $8,275,000 Tax Increment Revenue Bond, Series 2005B was issued and dedicated to affordable housing. One of the first steps taken by the CRA was initiating a housing needs assessment for the community. The purpose of the study was to capture the housing supply and demand within the CRA in order to implement the necessary initiatives and programs. The report was completed by The Metropolitan Center of Florida International University in August of 2006. Affordable housing is defined by the Boynton Beach Community Redevelopment Agency as households earning up to 120% of the area median income (AMI). The CRA participates in property acquisition, development of programs, project funding, and forms partnerships with developers to provide homeownership opportunities for local residents. ~11:1:~;;"5;.1b-; ~~.'M.: ;r~:i.:_: " l'ItIf.: 15 __~: .#,,i..- .=_...-:t~~_ -;_~~ ~_ t.,~. . .Tt:...-.,.\..,-.....--- t Boynton Beach eRA eRA Profile Boynton Beach, an urban area with a population of approximately 67,000, is a coastal city situated between Delray Beach and Lake Worth in Palm Beach County, Florida. The BOYnton Bea<zh CRA covers the eastern edge of the city. Federal Highway is a major north/south road in the CRA and the east/west connectors include Gateway Boulevard, BOYnton Beach Boulevard, Woolbright Road, and Gulfstream Boulevard. The Community Redevelopment Area accounts for 1,640 acr,es of land within the City of Boynton Beach. The BOYnton Beach CRA participates in revitalization activities that encourage vibrant downtown growth and focuses on providing affordable housing. The community is working together to make Boynton Beach an attractive place to live and work in Palm Beach County. With many projects well underway, Boynton Beach is a step closer to redevelopment efforts that stimulates job growth, provides homeowners hip opportunities within the community, strengthens the local economy, and beautifies the community. (~ The CRA's total revenue for 2007 was $12,000,000. Over 80% of the total revenue was tax increment revenue. Approximately $4,000,000 of the 2007 budget was spent on affordable housing programs and projects, which accounts for one-third of the total expenditures. REVENUES EXPENDITURES '"" 1n..l!mI:lrt ~ue-rr.I.f.} S8,DU,061 o.,bt Sertica sz,&S2,m Il"""opmml PrvJads Sl,s.49,672 - ":.- . - ~-- _~ _".J,- ..,~ - -.. ,-...--... .~- . " ~ 1': . .. (- 16 . - - - - -- ... - - - - - --...- -- - ~-= ,-,-,".^ ,,,,"'~"_JC-.""~ ,'.. ,'.,.."J "','_ --r-- Boynton Beach CR~', Mfordable Housing eonditiOl.}s According to Florida International University's Metropolitan Center, by 2025 the Boynton Beach CRA will need a total of 7,506 affordable housing units in the CRA. In 2005, the median sales price for a single family home in the Boynton Beach eRA was $220,000 and the median sales price for a condominium was $177,000. The affordability gap - the difference between what a household can afford and the actual . ' cost of housing - indicated the immediate need for Boynton Beach to provide affordable housing. The median household income for the Boynton Beach eRA in 2005 was $38,580. The affordable home price for households earning the 2005 median household income was $145,542. The resulting afford ability gap was $31,458 for a condominium and $74,458 for a single family house. . . . . ~ . . . . . . . . . . . . . . . . . . . . , In the City of Boynton Beach, the average rent increased from $700 in 2000 to $1,146 per month in 2005. At the end of 2006, rents had increased 58 percent since 2000. In 2005, the affordable rental price was $965 at the median household income of $38,580. The median rent price in 2005 was $1,275, resulting in an afford ability gap for renters of $310 per month. . ".. .- 1t'r'~~f'" " ~.~ ~ch~ "~~::!:1':-:=\f81 "", ". -: ~ l ,..~~~~ "\.'~~c:' ~.. 17 ~~~1b"1:'~~';:'!ht'-L.''''::r~!:l:Ii:i~l~~~ Boynton Beach CRj, .~ . Progra~s , . The Boynton Beach CRA has responded to increasing housing costs and the need for more affordable housing units within the community by establishing a number of housing prograTIi.$. Three of these programs include the Homebuyer Assistance Program, Direct Incentive Program for Workforce Housing, and the Residential Improvement Grant Program. .. Homebuyer Assistance Program In an attempt to help more families purchase a home within the community, the CRA implemented the Homebuyer Assistance Program. The Homebuyer Assistance Program (HAP) provides up to $50,000 in interest free down payment assistance for low and moderate-income families purchasing a home in the CRA. The funds can supplement SHIP assistance or other down payment assistance and help close the gap between the cost of the home and the amount first time homebuyers can affor.d. If the homeowner resides at the residence for the full term of the original mortgage, the loan is forgiven. If the property is sold within the first five years, the owner is required to pay 80% of the equity to the CRA. During years 6-20, 50% of the 'equity and during years 21-30, 15% of the equity is due to the eRA at the time the property is sold. Key Program Guidelines . Must be a first time homebuyer . Family income must not exceed 120% MHI for Palm Beach County as set by HUD . Funds may be used for down payment, closing costs, and rehabilitation costs . Persons working in the City of Boynton Beach receive preference . Funding should not exceed 40% for moderate-income buyers and 50% for low-income buyers of the purchase price The 2005 bond made the Homebuyer Assistance Program possible as $1.4 million of the bond was dedicated to the program. By the end of the first quarter in 2008, 21 HAP units closed. Another eight are expected to close before the end of the year. )c:if;;~:-:[':'.~:'" '-~:::\-,;::)' ~s i .-::~d .~; .' ,:~ "'\:"', :.i';:)t;. 18 -- ,,', , 'flt.'".... .~~ll.lIII~i!"'iF Boynton r~each (:;RA .. Residential Improvement Grant Program The City of Boynton Beach has an aging housing stock. Citywide, approximately 73 % of the units are over 25 years old. The number of older units increases in the CRA, with 98% of the housing stock over 25 years old. In October of 2005, Hurricane Wilma left Heart of Boynton Beach residential units in a dire state. Many of the residents within the CRA did not have insurance and could not afford to fix the damages caused by the hurricane. In response to the need for rehabilitation of many homes within the community, the Residential Improvement Program was created and is administered by the CRA. The program provides residential improvement grants to assist homeowners with improvements in an attempt to maintain the aging housing stock. Up to $20,000 per residence is provided for improvements, including the addition of hurricane shutters, awnings and canopies, repair of doors and windows, landscaping, painting, exterior lighting, and facade improvements. The program is available for applicants that have an income less than 120% of the Palm Beach County median household income. Program Goals . Stabilize the Community . Allow Residents To Remain At Their Properties . Bring Homes Up To Current Building Codes . Improve the Appearance of the Area . Encourage Redevelopment The CRA has provided $140,000, a combination of TIF and Bond funds, to the Residential Improvement Grant Program. The program is currently assisting seven homeowners with improvements to their property. In addition, 13 grant applications have been received and are currently being processed. .{~~ 19 ~-_r=IT.!;'~~lt~&z~~~::r.~ Boynton Beach eRA .. Direct Incentive Program for Workforce Housing The Boynton Beach eRA encou'r~g~s workforce housing within the community through the Direct Incentive Program for Workforce Housing. Under the program, the developer agrees to provide a certain number of workforce housing units that fall between 50% to 120% of the Palm Beach County median household income in exchange for the return of pledged project increments revenue. The project must be over $1,000,000 in projected new assessed taxable value upon c;ompletion. In the Heart of Boynton Beach, the project only needs to exc~ed $250,000 for consideration. In addition, projects are required to be Illixed-use, multi-family ownership units, or rentals with ownerships opportunities (rent-to-own). Program Elements . Project Iilust be located in the eRA . Workforce units are defined as 50% to 120% of MHI for Palm Beach . Project quality and overall contribution to the community is considered . Economic Feasibility Studies (except in the Heart of Boynton) are required Site Specific Projects .. Ocean Breeze Ocean Breeze, the former home of the dilapidated Boynton Terrace Apartments, is located along Seacrest Boulevard between NW 7th and 8th Avenues. The project is made up of 84 mixed-income rental apartments and 56 for-sale townhouses. A partnership has been created between American Realty and the Boynton Beach Faith Based Community Development Corporation for the project. The eRA acquired the 7.83 acre property for $7.5 million specifically for the creation of workforce housing units. The CRA then purchased additional parcels of land near the property in an attempt to assemble land for more workforce housing units. The land was going to be sold to American Realty for $4.2 million; however, the CRA Board recently agreed to give the land to American Realty. When complete, the project is expected to create 106 new affordable housing units in the community. Ui1t~~;oo~ 20 . f ". ' I ; .,'- ;~.,:; ._iII"'t.""I#':''!!i~''";'_lI'Mlllilill'll',~.'' Boynton Bea,'~~', C~:f~P\ .' The Preserve The Preserve is a scenic' master planned community located at 1801 NE 4th Street in Boynton Beach that contains both condominiums and townhomes: It is an effort between the Boynton Beach Community Redevelopment Agency (CRA) and the Cornerstone Group to include affordable housing units within the community. Project Summar)' Developer: Cornerstone Group Date Completed: Not Completed Site Area: 12 acres Type of Units: Townhomes Other Land Uses On The Site: No Gross Residential Density: 15 Selling Price: $223,000 - $349,000 Through joint financing efforts, eligible buyers can qualify for $150,000 in financial assistance for a condo or townhouse. With up to $100,000 from the Community Workforce Housing Innovation Pilot Program (" CWHIP") and another potential $50,000 from the CRA's Homebuyer Assistance Program, the price on a $269,990 three bedroom condo can be reduced to $119,990. The CRA has contributed a total of $2,500,000 of TIP funds to the Homebuyer Assistance Program for the purpose of assisting 50 end buyers. ~~ - _" -- _-~ _=~ ~ ~:. _:~ :~;.~~_~~~~-.:"~~~ - L' "~~t~~i(\:;~~?~~~: ~C ;>j~L . - .~. - _'~ ~I Total Development Cost: Sources of Project Funding: 1 st Mortgage CWHIP Equity $43,135,000 $35,000,000 $5,000,000 $3,135,000 Total Private Equity Investment Total Public Investment $38,135,000 $5,000,000 When complete, the Preserve will contain 180 two and three-story townhouses and condos at market rate prices ranging from $250,000 to $349,000. Of those units, 50 will be affordable housing for people with incomes under 120 percent of Palm Beach County's median household income. f~1;'lfrW;~'~'f"';:'.:~f~,"rj'?,:-~?f:~- ~'-:r;-,.,~", ~ ;,' . ,t,,; -012. 21 ._:-;~::-::;-~~_.~=::..:..,.,..:--=~~ -- -... >:1,;.-'" O.."_r_t:M...... .,;1.___-.\:,.,. ,.,. ( Boynton Beach CR~~ Sunlmary and Recommendaijons from the Boynton Beach CRA . " Over the years, the Boynton Beach Community Redevelopment Agency has committed $17,000,000 to affordable housing which has remarkably contributed to the creation of hundreds of affordable and workforce housing units within the community. Housing opportunities have been provided to many low and moderate-income families as the direct result of contribution by the CRA in terms of fundihg, technical assistance, and the facilitation of affordable residential housing pr,?jects and initiatives. (. In order to successfully implement affordable housing, the Boynton Beach Community Redevelopment Agency believes it is absolutely necessary to understand the community, city, and county in which it operates. Public-private partnerships can be an extremely effective tool but knowledge of the private sector and being able to speak the developers' language is necessary for successful public-private partnerships. The Boynton Beach CRA believes it is essential for policy markers to understand that affordable housing is not just a social issue but an economic issue as well. Affordable housing is one piece of the puzzle required for a community to be successful. --=.~~.-- --- 'wo...!"IlE':,'-\'.:\.. r \ 22 .' .....1, \.A . I': e .' !~. .'~.'t:~ ,...~ :~;: . '. ._..J9!IL11'l:... ..aI~~,.,t~"i:~. Wpnter P"ark eRA Overviev, - The City of Winter Park Comriu;inity Redevelopment Agency was created by the City Council of Winter Park in June of 1991. In the 1990s, the neighborhood on the east side of Winter Park, was increasing in value as new large homes were built and enhancements to the community were being made. However, it was a different story on the west side of the City of Winter Park in a neighborhood known as Hannibal Square. No new development was being built and revitalization efforts had not occurred. In the early 1990s, Hannibal Square was a very low-income African American Community and the neighborhood was considered to be extremely dangerous even though the community was only two blocks from Park Avenue and the downtown area of the City. As the Planning and Community Development Department at the City of Winter Park updated their comprehensive plan in the early 1990s, they recognized affordable housing was an important component of the plan that was not only needed to ensure the economic vitality of the west side of the City of Winter Park but also required by the State of Florida. The City Commission agreed that the west side of town needed to be revitalized and made safe for the well-being of the entire community. Affordable housing became a top priority in this revitalization effort. In order to increase affordable housing opportunities, the City of Winter Park implemented an affordable housing trust fund and linkage fee to address the housing goals, policies, and objectives established in the Winter Park Comprehensive Plan. The City of Winter Park Community Redevelopment Agency defines affordable housing by using Orange County's guidelines. Affordable housing is defined by Winter Park as households earning an income of less than 80% of the area median income and defines workforce housing as those households earnin& between 80% - 120% of the area median income. More specifically, Orange County defines very low- income as households with a total income under 50% of the area median income, low- income as households between 51 % - 80% of the area median income, and median- income is defined as those households between 81 % - 120 % of the area median income. ~: 23 ~_~<lW;"'-r Winter Park eRA CRA Profile The City of Winter Park is loc~ted within Orange County in Central Florida. The CRA includes the heart of the City of Winter Park and Winter Park Village, extending from US Highway 17,,:.92 to Interlachen Avenue and from the Fairbanks and Orange Avenues area to Lee Road. The CRA's annual budget for the 2006/2007 fiscal year was over $3 million. Winter Park has a population of about 28,000 residents with a fifth of the population earning less than $25,000 per year and half of the households earning an income less than $50,000 per year. The mission of the Winter Park CRA is to preserve and improve residential neighborhoods through activities that empower residents and to improve commercial areas through activities that promote controlled economic growth. The CRA operates within the Winter Park city government. It is responsible for redevelopment efforts within the CRA area. Over the last decade, the CRA has invested TIF revenue into the construction and maintenance of public improvements, redevelopment, and social programs. The most critical concerns the CRA faces is public safety, upkeep of property maintenance, youth recreational programs, employment, minority business development, and affordable housing. Mfordable Housing Conditions According to the Florida Housing Data Clearinghouse, in 2006, the median sales price for a single family home in the City of Winter Park was $439,000 and of a condominium was $184,950. The median household income was estimated to be about $53,000 in 2006. The affordable home price for households earning the 2006 median household income is estimated be be about three times the median household income, which would be approximately $159,000. The affordability gap - the differenc~ between what a household can afford and the actual cost of housing - in the City of Winter Park at this time was $280,000 for a single fami,ly home and $25,950 for a condominium. The gap makes it difficult for the government, educational institutions, and local businesses to hire individuals and have them live near their place of work which indicates the immediate need for affordable housing units within the eRA. _ - -.'1l&W:t.O~:liiI-' 24 i_ . ~ -, i"'~ '\ ' '.. ~ ~ l .: 7. ,"'""-- - '~:'"",,-,-,':::' ",. -..- .___.-...-.~._3., I Winter ~arlc eRA ) In 2005, more than 30% of the'. households in the City of Winter Park were cost- burdened, paying more than 30% of their income on housing. 13% of those households were paying mq!e than 50% of their income on housing. Substandard housing, housing units that are considered to be overcrowded, lack heating, or sufficient kitchens and plumbing, accounted for 5.5 % of all households in the City of Winter Park in the year 2000. Programs In response to the immediate need for more affordable housing units within the City :J of Winter Park, the CRA has been involved in a number of initiatives and programs aimed at specifically addressing the problem. These programs include an affordable housing trust fund and linkage fee, the Hannibal Square Community Land Trust, and the Housing Rehabilitation Program. .. Housing Rehabilitation Program The essential role of the Housing Rehabilitation Program is to keep homes occupied and aims at ensuring safety and maintaing the character of the residential neighborhoods. The CRA provides financial assistance for the Housing Rehabilitation Program. The Program has been in operation since 2002 and over $1.1 million has been contributed to it so far. Up to $20,000 in forgivable grants are awarded to income qualifying applicants that need to make emergency and restorative improvements to their properties. To date, the program has completed over 100 rehabs and the CRA will be expanding the program. ~~~~:;=.;.:r~;-,.,;, - ~.'~~ "': . ".......~". .-.an.._ _u,..... . ~ ~.~.. . _., . , ~ I. ":-.;:'. 25 ~;",:~":L "~:.:w;,,,;::;S.'[~f~.. ~:-...:-~~~&~: LY:\" Winter Park eRA ~ Affordable Housing Trust, Fund and Linkage Fee . , In 1990, Ordinance No. 1883 was passed to establish an affordable hous~g fee and trust fund in order to meet the affordable housing goals, policies, and objectives of the Winter Park Comprehensive Plan. The trust fund uses revenues received from building permits to supply lots for affordable housing units to Habitat for Humanity and the Hannibal Square Community Land Trust.' Fifteen, cents per square foot of construction was the fee when the ordinance was passed; the current fee is 50 cents per square foot for both residential and commercial construction with the exception of affordable housing units. The CRA has played a vital role in purchasing lots and donating them to Habitat for Humanity and the Hannibal Square Community Land Trust and has acquired over 32 lots for affordable housing. Fiscal Year Receipts 1991 46,761.09 1992 49,107.15 1993 45,980.15 1994- 45,068.53 1995 80,533.54 1998 52, 169.21 1997 70,422.08 1998 140,518.41 1999 149,061.55 2000 125,578.81 2001 193,948.35 2002 121,589.77 2003 148,109.38 2004 219,890.92 2005 209,652.21 2008 517,000.48 2007 284,393.03 2008 132,053.60 Total ta- date 2;602.435.26 The Affordable Housing Trust fund has collected a total of $2,602,435.26 from the linkage fee since its inception. The 2008 amount only reflects fees collected though June of 2008 and not for the entire year. The funds have supported the construction of over 192 affordable housing units and have helped purchase over 40 lots for affordable housing within the Community Redevelopment Agency. ~ Hannibal Square Community Land Trust The Hannibal Square Community Land Trust was established in November of 2004 to provide and preserve affordable housing for Winter Park's low-income community. . The Community Land Trust creates a permanent stock of affordable homes by owning the real property which is leased to qualified buyers on a 99 year ground lease. The buyer is able to own the home, removing the cost of the land from the equation. The Community Land Trust allows Winter Park to maintain a diverse mix of housing opportunities. *~;~.i!~~t:1JE~~~;~...t;l>j;j$l"r 26 1-,:: . t > - '. ~... -l~'" . ~~;f!." W"inter Park CR,L' The Community Redevelopment Agency organized and developed the Community Land Trust (CLT). concept for Winter Park. The CLT, which now functions on its own, still depends on the CRA for operational and capital expenses. CRA and City Staff provide technical assistance in architecture, financing, budgeting, and event planning and marketing to the CLT. Additionally, the CRA has brought together vendors and business partners to do projects with the. Community Land Trust. The CRA also provided a $1 million grant to the CLT. The Community Land Trust has successfully completed two projects, Canton Park and the West Comstock Development. Canton Park includes ten single-family homes and West Comstock consists of four for-ownership single-family homes. Site Specific Projects ~ West Comstock Development West Comstock Housing Development is a partnership between the City of Winter Park, the Community Redevelopment Agency and the Hannibal Square Community Land Trust. The four single-family, three-bedroom, two-bathroom homes are green building certified. The homes were built utilizing the Palm Harbor Homes modular construction process to promote sustainability both environmentally and economically. The purchasers of the West Comstock Housing Development units received SHIP dollars to help close the gap and make the units more affordable. The homes, which would have sold for about $300,000, were conveyed for approximately $160,000. The Community Land Trust, by owning the land the West Comstock homes were built on, also helped the residents purchase the homes at an affordable price. The eRA planned the development, located the developer, and assisted with planning and zoning approval. ~Z~ 27 ~,,"'1:~~~d&~:';llb~1~.::;,,;- -:-'.:~,:",!;~' "'" Winter Park eRA , '. ~ Canton Park ' .. Canton Park, another Hannibal Square Community Land Trust development, consists of ten single fa~ly, three-bedroom, two-bathroom homes. The CRA participated in the Canton Park development by donating the land to the Hannibal Square Community Land Trust. The CRA coordinated with builders and other essential players involved in the development, planned and developed the project, and organized fund review for applications. Summary and Recommendations from the Winter Park CRA To date, the City of Winter Park Community Redevelopment Agency has purchased 15 properties for the city's single fa~ly home program, has acquired properties or have provided funds for the construction of 32 homes by Habitat for Humanity, has purchased 10 properties for the Hannibal Community Land Trust, and has acquired another 7 homes for future affordable housing projects. The affordable housing trust fund and linkage fee has proven to be successful in Winter Park providing over $2.5 million in funding for affordable housing projects. Affordable and workforce housing is a major component in the City of Winter Park's CRA strategic plan. In the coming years, the CRA will be establishing a down payment assistance program, a rent-to-own program, and a workforce housing initiative. Being able to leverage additional dollars for affordable housing initiatives and projects is also part of the strategic plan. In the coming months, the CRA and Hannibal Community Land Trust will be focusing their efforts on an affordable housing project for seniors. ~~~~iIiii,;;:~\.-;f~.7~~ 28 (, .' {,:~\ ~' i- ;J ~ - '". j . .....-.u,lfffll>~,,~_:'i:i'< !"";'~~~:IIW~"'~,>':-:':;~;';,>:~~:!:,' Delray B,each (~r~l, Overview Redevelopment efforts began in the DeIray Beach community when the City Commission established the Community Redevelopment Agency (CRA) in 1985. The CRA worked to. eliminate slum and blighted conditions in the downtown and surrounding residential areas, which produced steady but moderate increases in property values for several years. However, a sudden e~ansion in the real estate market caused property values to increase rapidly, and the cost of housing increased beyond the means of many longtime residents. The high costs also negatively impacted employers, who were unable to offer their employees affordable housing in the Delray Beach community. While affordable housing had long been a part of the CRA's redevelopment program, it became a top priority soon after the real estate boom began and the community declared it among its most immediate needs. Recognizing that affordable housing is an essential element of successful redevelopment, the CRA devoted more resources to the creation of affordable and workforce housing, for households earning up to 100% and 140% of the area median income, respectively. eRA Profile Delray Beach, an urban area with a population just under 65,000, is situated adjacent to the Atlantic Ocean in the southeast comer of Palm Beach County. Located within the heart of Delray Beach, the eRA boundaries include the entire Central Business District, the area north of downtown between Swinton Avenue and the Intracoastal Waterway to Boynton Beach, and adjacent neighborhoods east of 1-95 between Lake Ida Road and SW jSE 10th Street. The Community Redevelopment Area accounts for 20% of the total area within the City of Delray Beach, covering more than 1,900, acres of land. C,,' ..,' _",,;"'" ~ :,,;~~ti: ~, 29 ~~UJ~J5;~~:~1';iTI~~~JJr'~ Delray 8each eRA The CRA manages redevelopment efforts within the central core and downtown area of Delray Beach. The mission of the Delray Beach CRA is to foster or directly assist redevelopment in order to eliminate blight, create a sustainable downtown and encourage economic growth, improving the attractiveness and quality of life for the benefit of the CRA District and the City of Delray Beach as a whole. The CRA enhances economic Vitality through planning, downtown marketing projects, redevelopment, historic preservation, beautification, and affordal?le housing efforts. The CRA's total annual revenue for 2006-2007 was $18,646,192: Although some revenue was collected through land sales, grants, and other revenue (Delray GreenMarket, property management, project reimbursements, and interest income), City and County tax increment financing (TIF) accounted for the majority of the total revenue. City and County TIFs accounted for 49% and 31 % of revenue, respectively. The majority of the revenue was used to fund programs that provided a direct benefit to the community, with 86% of the 2006-2007 fiscal year budget going toward redevelopment projects, neighborhood plans, community improvement, and economic development. Approximately $12 million of the 2006/2007 budget was spent on affordable and workforce housing programs and projects, which accounted for approximately 41.8% of total expenditures. Affordable Housing Conditions The market value of properties within the Delray Beach community rapidly increased as successful revitalization projects were completed. In 2005-2006, the median sales price for a condominium in the City reached $205,000 and the median selling price for,a single-family home exceeded $479,000. ~,gi>~'l:I~~.'tliilli(',/.:,,!. .,.,,,::,.' ,. '.,. Le,_". 30 . .: ,..~ )'_':'~,". ,,"t ~ . ". ',I 1'.':( ;"< . -- ,.- ._' ~ ~t""I":';.'1l-'- -.....~ ._--- '~.... ,..."""..........r""". '..,."'......... ....-.o;;",{.d.,; ---- ~ lDelray Beach CRt. ~ The afford ability gap - the difference between what a household can afford and the actual' cost of housing - indicated the immediate need for the CRA to focus on providing affordable housing opportunities within the community. Municipalities like Delray Beach, which had high concentrations of, the resident workforce, were exposed to some of the '. greatest afford ability gaps in Palm Beach County. The median household income in Delray Beach was $50,842 in 2005. The affordable home price of a condominium for households earning 100% of the area median income was $167,514 in 2005 and $161,622 for a single-family home. This resulted in an afford ability gap of $37,486 for a condominium and $317,378 for a singlE~-family home. A decline in rental housing production coupled with an increase in condominium conversions resulted in a substantial loss of rental housing and an increase in rental prices. Some of the highest rents in Palm Beach County were found in Delray Beach. In 2005, the average rent in the city was $1,622. With a median household income of $50,842 and the affordable rental .rate of $1,084, the affordability gap was approximately $538 per month. :) In order to compensate for the rising costs, over 8,000 households in Delray Beach spent more than 30% of their income on housing. The afford ability gaps demonstrate the critical need for more affordable housing. By 2025, it is estimated that over 5,000 units are needed for households earning below 120% of the area median income. t . , _~ .~.,'- ":'_;'~!'''' ," '..,.","" _ __..-'t;;~~~~--~,~~ 1:1 . 0 . .. c 1~,!~O)ijfI'futoit~;~~l)Di~}'g" {\rlCwJ:lirt~)~~liJ I ~TrtI:~l~ - ':~i - C)f4};; ~~'..:): ;';{.-;-'-';--~I ':' f'r.>\r,'IDr' ;;:;,,'1 ""'"', ' f'''"''C..,'', ,:' ',' ,'~.' . L.IfE1u~' 'i),;!l .J,;lY....~ __'-.:.,...~ ~ j.L I.. "_ A. ,,~','~ ~ '..J.-. .. t-.:..,'1..'::::... ~-- ',.-h ~~~~1~~!?~~~~~J21~~!.:),,:~",i,-'~-:~ ~.~~,,; :, ::- ~~..:.......s:= =' _ _ --:- =- ;,-. ____~__..,...._''""'''''.., ~ u, ........... '.'_~ . :) , ' .j ".\',", . Il::-: Jl. ,_.. ...... ...: : 4 :. ."..~ ::.:." . '. 31 ,~.,.~~~Jl:J,P'~"",:;. .. ....' Delray Beach CR~ Programs In response to increasing housing costs and the need for more affordable and workforce housing units, the Delray Beach CRA has been involved with a number of affordable housing programs. Two of these programs include the Renaissance Program and the Delray Beach Community Land Trust (DBCLT). ~ The DeIray Beach Renaissance ProgrCl-l1l The CRA has been a partner in the Delray Beach Renaissance Program with the City of Delray Beach, the Delray Beach Housing Authority, the TED Center, the DeIray Beach CDC, and the Community Financing Consortium. The first-time homebuyer program increases homeownership opportunities to low and moderate-income households by subsidizing the remainder of the purchase price with available grants after private financing is obtained. Subsidies of up to $75,000 were provided by the City to low- income homebuyers under the program. Key Program Highlights . 30- Year Fixed Mortgage Rates . No Points or Loan Origination Fees . Closing Cost Assistance . Below Market Interest Rates . No Private Mortgage Insurance . Forgivable No Interest Loans for Gap Financing Purposes The CRA's role in the program was to acquire vacant lots and provide down payment subsidies of up to $20,000 to moderate-income households earning 81 % to 120% of the AMI. The CRA funded its part of the program with TIF dollars. The initial goal of the Renaissance Program - to increase homeownership opportunities while contributing to overall neighborhood revitalization efforts - has been achieved. The program helped more than 170 low and moderate-income families become first- time homeowners. In later years, the cost of land made it extremely difficult to deliver affordable housing to low and moderate-income households, and the City and CRA's housing focus shifted to a community land trust model. !:~i}~~~~-~~1UiF~~ 32 __.!P'_""'oIil!'~i._ _1"' ..- -I!I~'; Delra~f f31each1 C,RA ~ Delray Beach Community L~nd Trust In 2002, the City of Delray Beach and the Delray Beach CRA along with Florida Atlantic University collaborated to create the Development without Displacement Handbook. The handbook recommended the use of redevelopment strategies that would not result in the involuntary displacement of long-time residents. Among its recommended tools was the creation of a community land trust, a non-profit organization that removes land from the speculative real estate market to prevent the c'ost of housing from rising too high for the community. The Delray Beach Community Land Trust (DBCLT) was eventually established in December 2006. The organization acquires land and holds it in trust for the benefit of the con'lffiunity. The DBCLT has been able to offer new and pre-owned homes at affordable purchase prices for very low to moderate-income households by removing the cost of the land from the home-buying equation. Through land lease arrangements the homes remain affordable in perpetuity, therefore the initial public investment is protected for the duration. The CRA, along with the City, was the driving force behind the creation of the DBCLT, providing land, staff, and funding. The CRA hired a consultant who had worked with the Burlington Community Land Trust to conduct the preliminary research for the creation of the CLT. The CRA provided administrative start up costs and has contributed annual operating costs to the agency. The most recent CRA budget allocates $350,000 for staffing and operational expenses. The CRA also obtained a $7 million line of credit to be used as a revolving loan for property acquisition and construction financing. When the homes are completed and sold, the CRA writes down the cost of the land and receives repayment of the construction costs. ~71.'~".0-:r;~;"~~;~f:. _ ~_ :ZH:; -~ 33 ~"1l~~I'~~~,.:~J~~~~~: De~ray 8each eRA The DBCLT became one of th~ most active community land trusts in the State of Florida in 2007. To date, it has conStructed and delivered 26 single family homes for both affordable cmd workforce families and has repaid approximately $3 million of borrowed funds to the CRA. It has negotiated a contract with the CRA to purchase and build an additional 17 homes in the City's southwest neighborhood, which is a high priority redevelopment area. In addition, six affordable, townhouses that are part of a market rate development were purchased by the DBCLT through the line of credit and are being marketed to moderate income . households. Three other homes are occupied by households through a lease/purchase arrangement. Through development fees, leaseholder payments, and developer contributions for affordable housing, the DBCLT plans to eventually become self-sufficient. Site Specific Projects ~ Atlantic Grove Atlantic Grove, a project located in the heart of Delray Beach on West Atlantic Avenue, is a mixed-use, mixed-income redevelopment venture. The project consists of two 3-story buildings, containing retail, restaurant, office and residential uses. Atlantic Grove is significant for being the first private redevelopment effort in this historically African American comnuimty. Project Summary Developer: Atlantic Grove Partners, LLC Date Completed: January 2005 Site Area: 4.8 acres Number, Type, Size of Residential Units: 44 townhomes ranging from 1481 to 1761 ale SF 20 lofts ranging from 1111 to 1192 ale SF Other Land Uses On The Site: Approximately 48,000 SF of Office/Retail Gross Residential Density: 15.625 per acre Selling Price (year): $134,000 to $279,990 ~~~!ta::_p-'-- 34 ~ 1 ."". - ~ , ,"" _ P. ~:': I :.' ::::~\'. :;:~C;,(~,' ~ .~:. tit /" ~~~?.r"~.".:: " :'Y'" Delray BeaCr"l CRJ~ The CRA spent about $2 million over several years assembling and preparing 4.6 acres of land, and issued a Request for Proposals for redevelopment of the site, The successful respondent, Atlantic Grove Partners, consisted of a partnership among private developer New Urban Communities and two nonprofit agencies, the Delray Beach Community Development Corporation and the TED (Technology, Enterprise and Development) Center. ~e CRA also provided seven of the affordable unit buyers with second mortgage subsidies, offering up to $20,000 for each unit. ._.~f,~..._ UlilA._.~1' Atlantic Grove includes 52 townhouses ranging in price from $134,000 for the affordable units to $280,000 for market rate units, as well as 20 residential condos that were originally priced between $177,000 and $250,000. Ten units were sold to low and moderate-income homebuyers under the Renaissance Program. In addition, the two nonprofit partners in the development received a return from the project that they have reinvested in the community in the form of affordable housing projects and business incubation services. _'-'~'.--""---7-'-' -."'-' . .. - ---'!'1i_"""""",..".,q",."",.."..--_....1 .\ , . ' .". .. , '. ,,"" ~l~'-i:'=_", """j.;~ tl'~>;" t '~i'J r ,~'I"fl' J. , f;?!l ~~'f;~fj wtM~;'W~:1 l~~~'~~~~';~'l~t~~ {'~}__~__ __ _ _ _ _~A;: ~~_~_~~_ /_~~~=~~J!i: Total Development Cost: Sources of Project Funding: Local Initiatives Support Coalition (L1SC) Acquisition & Development Loan Vertical Construction Revolver Wachovia Bank Acquisition & Development Loan Vertical Construction Revolver Fannie Mae Acquisition & Development Loan Vertical Construction Revolver FL Community Loan Fund Palm Beach County Grant (CDBG) Partners' Equity $16,621,056 $667,485 $1,646,500 $3,616,692 $3,665,058 $800,000 $8()7,000 $500,000 $600,000 $1,071,756 i$''',,~..'''''~~.~'~~'''I,~~-.~.'':',.-7''t:~'-~,-:t;')llrf~~:'>~:;y ....~ 35 -.-m-..:l:.Tj;1~\:~:: j[w...c~.L:r~ . ;-,,::i:t;i',;.q;g-~7; Delray Beach! CR,L, ., La France Apartments La France Apartments, located on NW 4th Avenue in the West Settler's Historic District and formerly known as the La France Hotel, was renovated to provide 14 rental units for low-income seniors. The site is rich in history and has both cultural and economic significance. Built in 1949, La France was the first hotel in the community that welcomed African Americans during the segregation area. It had fallen into a state of disrepair but there was a strong sentiment to rehabilitate it and preserve this important part of the community's history. / -, fI- ! ~ i ~l.D The eRA purchased the La France property in 2003 and involved the community in various workshops and public forums to determine the final use of the property. The eRA held meetings and distributed a survey to obtain feedback from local residents regarding potential uses. After much consideration, the community reached a consensus that affordable housing for low-income seniors would be the most desirable long-term use of the property, and the most compatible use for the surrounding residential neighborhood. The original La France building was renovated to provide eight efficiency units. An addition was constructed to provide six additional one-bedroom apartments. All 14 units have been occupied by low and Sources of Project Funding: Delray Beach Hurricane Housing Recovery Program Grant Delray Beach Community Redevelopment Agency $500,000 $2,500,000 ~~ 36 , (~ : ~ _' ;. r'";., . ,''\.... - -""",':- -,"'--:-;:T'-:':'-'''-;:" ,----<~ ~ ._. _.~_.",," -,-, --. -~ l')etray Beach eRA I Carver Square Neighborhood.- The Carver Square subdivision, located in the Southwest Neighborhood, consists of 20 single family lots ,on land that had once served as a dumping site. Many homes in the subdivision began to suffer from structural damage, including cracking walls and sinking foundations, as the ground beneath settled. The CRA successfully obtained a Brownfield designation for the land, and worked with the 'Carver Square residents to help them find suitable replacement housing. Villages of Delray will be a mixed-use, mixed-income project that will consist of affordable rental units and a combination of workforce and market rate townhouses. The Palm Beach County School District has approved an allocation of $500,000 for the project that will give potential buyers $10,000 each toward a down payment. The CRA acquired 19 of the 20 single-family homes and vacant lots in the Carver Square subdivision - one lot was acquired by the Delray Beach Community Land Trust - and assisted all residents with relocation expenses. In addition to purchasing the properties from the individual owners, all residents were offered financial assistance to help cover the cost of replacement housing. Once all of the residents were relocated, the existing homes were demolished. The CRA is currently in the process of excavating and stabilizing the land for future development. Environmental tests were conducted to rule out the possibility of hazardous contamination. ~iIJ ., ~ Total Development Cost: $3,000,000 Sources of Project Funding: Delray Beach CRA $2,qOO,OOO South Florida Regional Planning Council $500;000 Brownfield Loan (to be repaid by the eRA over 3 year periocl) ,~;t'i-~l;t..}':'t:i-'~~:';::::~S;,~" ': ")" ,.~.,;, ::; ~j-;~;:~;;:~~;: '(~~'f ":" 37 ~~&~~.a~ii~'Ihn..Z:.I:'?-",-,;:~';~' "1 De.rav Beach eRA . . Although the redevelopment of the Carver Square neighborhood is not complete, the CRA plan calls for the. construction of 20 affordable single-family homes on the site. The homes will be available to low and moderate-income households, either through the land trust or other nonprofit housing providers. Summary and Recommendations from the Delray Beach eRA The Delray Beach Community Redevelopment Agency has committed $12 million to affordable housing in the 2006/2007 fiscal year alone, which has remarkably contributed to the creation of numerous affordable and workforce housing units within the community. Housing opportunities have been provided to many low and moderate-income families as the direct result of contribution by the CRA in terms of funding, technical assistance, and the facilitation of affordable residential projects. The Delray Beach Community Redevelopment Agency believes forming partnerships has been a main factor that has contributed to successful affordable and workforce housing projects and initiatives. The' Delray Beach CRA recommends that other CRAs throughout the state take a chance and explore affordable and workforce housing opportunities within their community. .~".,.RiIl\.'...l!\l..{~...."",~'W!!~~>'i:l.1!:joI 38 : ~ ;'~ :. !,'. , .: r~ . . ,'" '" .~ I '..." .~ ,c\ _ ".... (; :-. ; i, ,! ' . . ,- , .1J--\ff Contacts Site Specific Activities ~ Miami Beach RDA 1700 Convention Center Drive Miami Beach, FL 33139 Telephone: (305) 673-7295 , http:// www.miamibeachfl.gov INEWCITY I d~ptsl rdal rdahome,asp ~ Orlando eRA 400 S. Orange Avenue Orlando, FL 32802 Telephone: (407) 246-2121 http://www.downtownorlando.com/ .. Lake Worth CRA 29 South J Street, Unit 1 Lake Worth, FL 33460 Telephone: (561) 493-2550 Fax: (561) 493-2549 http:// www.lakeworthcra,org/ .. Mount Dora CRA 510 N. Baker Street Mount Dora, FL 32757 Telephone: (352) 735~7100 http://ci,mount-dora,fl. usl .. North Miami CRA 615 NE 124th Street North Miami, FL 33161 Phone: (305) 899-0272 Fax: (305) 899-9376 http://www.northmiamicra.or.g/ ~It7~~"~ '~~?rt:'rf'.~~~;,f;c,a.,.t'?~{f~~ :{ . " 39 ~~~~.'" Contacts Programs ~ Miami CRA 49 NW 5 Street Miami, Florida 33128 Telephone: (305) 679-6800 Fax: (305) 679-6835 http://www.ci.miami.fl.us/eRA/Default.asp ~ Chipley CRA 685 7th Street - P.O. Box 457 Chipley, FL 32428 Telephone: (850) 638-4157 Fax: (850) 638-8770 http://www.cityofchipley.com/ ~ Holly Hill CRA 1065 Ridgewood Avenue Holly Hill, Florida 32117 Telephone: (386) 248-9417 http://www,hollyhilJfl.org / index.php?1ink=30 .. Hallandale CRA 400 South Federal Highway Hallandale Beach, Florida 33009 Telephone: (954) 457-1422 http://www,haUandDlebeach.org/ i.t1dex,asp?NID=82 ~ Sarasota CRA 1565 First Street Sarasota, Florida 34236 Telephone: (941) 954-4195 http://www.sarasotagov.com "'" &. ~~f~~~~ 40 I . \.~ ; '$ ..., ~::- :" ~: ~', ~ /' .- ii;,tl:E.:Z,~-- -. ~;,~:!';f~'V"':r:;il\~: Contacts .. Central County eRA 115 S. Andrews Avenue Fort Lauderdale, Florida 33301 Telephone: (954) 357-6634 Fax: (954) 357-:8655 http://wwW.broward.oq/p~/upiOO102htm .. N orthwest-Progresso-Flagler Heights eRA 101 NE Third Avenue, Suite 300 Fort Lauderdale, Florida "33301 Telephone: (954) 828-4514 Fax: (954) 828-4500 http://ci.ftlaud.fl.us/cra/index.htm Case Studies ~ Boynton Beach CRA 915 South Federal Highway Boynton Beach, Florida 33435 Telephone: (561) 737-3256 Fax: (561) 737-3258 www.boyntnn~hcra.com .. Winter Park CRA 401 Park Avenue South Winter Park, Florida 32789 Telephone: (407) 599-3399 http://www.cityof}yb).tet:park.oxg/2005/depts/cra.shtmJ. .. Delray Beach Community Redevelopment Agency 20 North Swinton Avenue Delray Beach, Florida 33444 Telephone: (561) 276-8640 Fax: (561) 276-8558 www.~a.org ID~gr,::t:?:"-=~':'":~_ 'T~~,..~.~','~~~~~ ~,...L,f 41 ~ en ~ ~ Q) J!2 - o o s.... '- C ~ I- 0 ~C/) 0> -..-: ~ 0 ~ CO (5 0 \,J I. C\I COC~",," Q) Q) c:- ~ """ en co ~ L.L.I Q) E "S C"'-:c-, o a.. co I · ......, C en ~ ~ o (5 al ~ ..,.. ~..'..'.'::',,~'i:::,':;__ BOYNTON BEACH CRA TROLLEY Rider Numbers Update I n the Past Monthly Riders Per Riders / Hr Cost Per Riders Hour % Change Rider (2007) Average 7,962 13.40 +49% $5.30 (2008) Average 11,035 18.40 +37010 $3.44 6 mo (2009 Avg) 10,921 19.73 +7.2% $3.56 Notice: Trolley Ridership in 2008 Versus First 6 months of 2009 basically the same even though eliminated Sundays Overall Ridership - Past 12 months Julv 08-June 09 Total riders= 130,649 Riders Avg. Riders= 10,887 Riders/Month (417 Riders/Day) 313 Days 2 ..,:,~-::::-:_:,::::--.......... . . Trolley Rider Demographics BOYNTON BEACH CRA TROLLEY Survey of 300 Riders (June 24-29, 2009} Question #1. A~ 9% 8-15 Yrs WI Parent 10% 15-18 Yrs (Unaccompanied Teen) 18% 18-25 15% 26-40 30% 40-60 15% >60 Question#2. Gender: 53% Female 47% Male Question#3. Ethnici~ 28% White 48% Black 16% Hispanic 7% Other 3 Why They Ride (June 2009 Survey Continued) 300 Riders .. .~. .._~,-.__:,_:;w BOYNTON BEACH CRA TROLLEY . . Q#4. How Often do You Ride: 6% Once a Week 36% 2-3 times a Week 52% Almost Every Day Q#5. Main Reason You Ride: 12% Catch Tri-Rail Or Palm Tran (Work?) 21 % Work 21 % School 20% Fun/Shopping 12% Buy Groceries Q#6. Vs Other Alternatives, Why Ride? 32% No Car/ Not Available 35% No License/ Don't drive 33% Choose Trolley because Free/Convenient & Safe Q#7. How Make Trip if No Trolle'!.;. 10% DrivelTaxi 20% Bike 46% Walk 25% Ride w/ Someone Else 33% Would Not Make Trip * Could choose more than one answer- so More than 100% 4 .'...,-.._.-....... .. .._.... ,...-. BOYNTON BEACH CRA TROLLEY . . Where do Trolley Riders Work (June 2009 Survey Continued) Q#5 Continued. 210k (65 of 300) of Riders Surveyed MAINLY use the Trolley to get to I from Work * BB Mall * BJ's Wholesale * Boston Market * Hampton Inn * Steak &Shake * Wal- Mart * Publix/ Winn Dixie * Stein mart & Kohls * Library *East Boynton * McDonalds * LA Fitness * Target & Sports Auth * Friendly's * Jasons Deli & Buds *Take Tri Rail to jobs in WPB, Pompano & Lakeworth 5 .... -.... ...:.~,.,. ,..";.. BOYNTON BEACH CRA TROLLEY . . Would You Pay to Ride? (June 2009 Survey Continued) Q#8. If -otherwise the trolleys service would end- Would You Pay for Trolley Ride? 74% (221 Riders) Yes 26% (221 Riders) No Of the NO'S: 14% (41) "True No's" 12% (36) No BUT Marked an Amount Q# 9. What is MAX Amount you would pay for ONE WAY trip? 140k Would Not Pay 43% 50 Cents 31 % 11 7% ~ Q#10. How Important is the Trolley service to you? 72% Yes - The Trolley is Very Important to me 18% Yes - The Trolley is Somewhat Important to me 7% No - I can get by without the Trolley 6 . ~~ - . BOYNTON BEACH CRA TROLLEY Costs of Collections of Fare System Upfront Costs: Base Cost of Unit Upgrade Option (Magnetic Card Reader) 4 Units: Adding Security Cameras to 3 trolleys: TOTAL Upfront Costs: Monthlv Costs: Monthly Cost of Magnetic Cards Additional Driver Cost for the Collection: Monthly maintenance of Security System: Additional Cost for Collection Person: Add Cost of Cashiers Office Collection: Additional Cost of Auditing: Increased Cost of Safety: Total Monthly Cost: Total Annual Cost: Per Unit: $ 6,000 ~ 730 $ 6,730 $ 26,920 ~ 7.500 $ 34,420 $125 $700 $50 $528 $708 $260 $500 $2,871 $34,452 (Camera+ Installation) (Cost of the physical card) (Driver to Meet up with Money Collector) (Tapes and Administration of Tapes) (BB & CRA Police- Money off trolley & Dep to bank) (Count & bank money) 10% of Receipts ($1 Fare) (Audit Riders versus Money) (Add time BB PO spend on trolley issues) 7 . - .. . BOYNTON BEACH CRA TROLLEY Impact of Fare on Riders . . Current Service A B C No $0.50 $1.00 Fare Fare Fare Current Annual Riders * 0,'0 Participate: ** Reduced Annual Riders: Annual Est Rev From Fare: Yr 1 Rev From Fare LESS Upfront Expense & Yr 1 op costs: Year 1 Annual Trolley Cost (w/Fare): ***CostlRider 130,831 130,831 850,'0 111,206 $55,603 13,Q,831 6,5% 85,040 $85,04'0 $16,168 $476,212 $5.60 L- _ _ _ _ _ NOTES: *Participation Percentages BASED on June 2009 Survey ** Reduced Ridership 1) LESS riders will ride if charge a fee 2) Fare Box or trolley Malfunctions *** Cost Per Rider actually increases because less people ride with a fare 8 $0 $492,380 $3.76 ($13,269) $505,649 $4.55 . -- ~ . BOYNTON BEACH CRA TROLLEY Costs of Revenue Collection By Year Year 1: (09-10) Year 2: (10-11) Year 3: (11-12) .-- I COSTS 50 cent Fare I J~1, Ii a're Net After Net After Upfront Annual COSTS Costs REYli:N,UE ",r?; REVENUE Costs $34,420 $34,452 $68,872 $55,603 ($13,269) tlt5,046 $16,168 $34,452 $34,452 $55,603 $21,151 $85,040 $50,,588 $34,452 $34,452 $55,603 $21,151 $85,040 $50,588 9 . ... ... :II BOYNTON BEACH CRA TROLLEY 2009-2012 ItThe Bottom Line" . . Matrix of Projected Trolley Costs YR 1: 09-10 A B C NO FARE $.50 Fare $1 Fare Current Service Cost NET Fare % NET Fare % Per Year Revenue Save Net Cost Revenue Save Net Cost $492,380 ($13,269) -2.7% $505,649 $16,168 3.3% $476,212 $499,414 $21,151 4.2% $478,263 $50,588 10.1 % $448,826 $506,448 $21,151 4.2% $485,297 $50,588 10.00/0 $455,860 YR2: 10-11 YR 3: 11-12 NOTES: Year 1: 50 Cent Fare/Ride, Cost actually increase, but more people will ride than $1 Fare. Year 1: $1 Fare/Ride- pays for itself in 10 months, but less people ride. 10 _.... - ..... .~:_.-.-:......... BOYNTON BEACH CRA TROLLEY . . Pros: * Increased Revenue * People Who Ride the Trolley Paying towards the trolley * Help reduce crowding on trolleys (because ridership will reduce) Pros and Cons Of Charging a Fare Cons: * Increased Safety issues- trolley (drivers and riders) may become a target * Increased Costs of Safety * Costs of Collecting, Counting & Auditing the Fare * Decreased Headways (Trolleys run slower because have to wait for fares) * Increased Rider issues- problems associated with NolWrong Fare * People who can't afford to pay- won't be able to ride * Frequent Maintenance of Fare Unit- Loss of revenue . 11 .--,~ ,.~"""", ','-;,', . Charging a Fare 50 Cents or $1? BOYNTON BEACH CRA TROLLEY . . 50 Cents? * More INCLUSIVE (only eliminates 15% of riders) * Takes about 15 months to Payoff initial Upfront & Year 1 costs * Generates small annual revenue (4.20k) savings going forward Versus $1 Fare? * Eliminates 35% of riders * Takes about 10 months to Payoff initial Upfront & Year 1 costs * Generates annual revenue of 100k savings going forward 12