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Agenda 09-08-09 ~! ",. .~., "";':""\"',<!rr" ~. , , ~~~<tY~Te~ICRA . East Side"'West S'lde...Seaside Renaissance It any person decides to appeal any decision made by the Board with Il"sp(xr TtJ anv matter considered at this meeting, he or she will tlt:cd a fecold of the proceedings, and that, for such purpose, he or she m:1\ T1l'l:d to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidcncl: upon which the appeal is to be based. CRA Board Meeting Tuesday, September 8, 2009 at 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 Budget Workshop August 10,2009 B. Approval of Minutes - CRA Board Meeting August 11, 2009 C. Approval of Period Ended August 31, 2009 Financial Report D. Monthly Procurement Purchase Orders E. Approval of Commercial Fa<;:ade Grant to Burchar, LLC Located at 403 NE 6th Avenue F. Approval of Entering into a Mortgage and Note with Women's Circle in the Amount of$lOO,OOO G. Approval of Trolley Contract Ii, /lpprovaJ of Denial of Commercial Jia<;:ade Impnnemenl (,rant !'nlgram ilPplication Submitted by Boynton Isles Neichhorhood <\ssoci<ltioll L Approval to Support the Schoolhouse Chil<l"'" ., 1vt1lSt'Lllll 2110l) Annual Dinner [Jance .1. Approval to Support the Business Development I\llard 201lCJ (iala VIl, Pulled Consent Agenda Items: VlIl. Information Only: A. CRA Policing Activity Report tor the Month llt August 200LJ and District Statistics t()r the Months of July and August 2009 B. Public Comment Log Monthly Update Co CRA Media IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Public Hearing: Old Business: New Business: XI. Old Business: A. Continuation ofFY 2009/2010 Budget Discussion B. Reconsideration of Lease Renewal with Ulaston Sims d/b/a Alex Sims Barber Shop C. Boynton Harbor Marina Slip Reconstruction Project I. Recommendation of Contractor - Shoreline Foundation. Ine. 2, Consideration of Entering into Contract with Shoreline Foundation, Ine D. Consideration ofPurehasing Vacant Lots Located on NF 41h Avenue from CDC in the Amount of $300,000.00 XII. New Business: A. Consideration of Entering into a Purchase Agreement for a Vacant Lot I.oeated on NE l,t Street in the Amount of $IOS,4S0.00 with Thelma Marshall B. Consideration of Entering into a Purchase Agreement for a Vacant Lot Located at 124 NW 11th Avenue in the Amount of $45.000.00 with Estella Jones C. Consideration of Entering into a Purchase Agreement with Johnny &. Betty Roberts for Property and Business Assets Located at 1002 MLK Blvd. in the Amount of $345,000.00 XIII. Future Agenda Items XIV. XV. XVI. XVII. XVIII. A. Consideration of GreenCentive Addendum to Direct Incentive Funding Program B. Property Exchange between CRA and City Comments by Staff Comments by Executive Director Comments by CRA Board Attorney Comments by CRA Board Adjournment ~~~ctY~Te~lCRA iIi East Side....West Side....Seaside Renaissance It any person decides to appeal any decision made by the Board with respeCT to any matter considered at this. meeting, he or "he win need a record of the proceedings, and that, for such purpose, he 01 she ma}' need tu cosun:: that a verbatim record of the proceedings is made, which record includes the testimony and cviJt.ncc upon which the appeal is to be based. CRA Board Meeting Tuesday, September 8, 2009 at 6:30 PM City Commission Cbambers 100 E. Boynton Beacb Blvd Boynton Beacb, FL 33435 I. Call to Order - Chairman Jerry Taylor II. Pledge to the Flag and Invocation Ill. 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 Budget Workshop August 10,2009 B. Approval of Minutes - CRA Board Meeting August 11,2009 C. Approval of Period Ended August 31, 2009 Financial Report D. Monthly Procurement Purchase Orders E. Approval of Commercial Fayade Grant to Burchar, LLC Located at 403 NE 6th Avenue F. Approval of Entering into a Mortgage and Note with Women's Circle in the Amount of$100,000 G. Approval of Trolley Contract h, Approval of Denial of Commercia! Fa<;adt' Illlprpvt'mcn! (iranll'rogralll Application Submitted hy Boyn(on Isles Nei,uhhprI1P""i /\ssoclation A.pproval to Support tht' Schoolhouse ('hiJdn'!' , !"'"SCUlll ,'110') Annual Dinner Danec .1. Approval to Support the Business Development Board 200l) (iala VII Pulled Consent Agenda Items: VIll. Information Only: A. CRA Policing Activity Report !()r the Month 01 August 200l) and District Statistics for the Months of July and August 200l) B. Public Comment Log Monthly lJpdate C. CRA Media IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Public Hearing: Old Business: New Business: XI. Old Business: A. Continuation of FY 2009/20] 0 Budget Discussion B. Reconsideration of Lease Renewal with Ulaslon Sims d/h/a Alex Sims Barbcr Shop C. Boynton Harbor Marina Slip Reconstruction Project I. Recommendation of Contractor - Shoreline Foundation, Inc. 2, Consideration of Entering into Contract with Shoreline Foundation, lnc D. Consideration of Purchasing Vacant Lots Located on NE 41h Avenue from (,DC in the Amount of$300,000.OO XII. New Business: A. Consideration of Entering into a Purchase Agreement for a Vacant Lo! Located on NE I sl Street in the Amount of $1 05.450.00 with Thelma Marshall B. Consideration of Entering into a Purchase Agreement for a Vacant Lot Located at 124 NW 11 th Avenue in the Amount of$45.000,OO with Estella Jones C. Consideration of Entering into a Purchase Agreement with Johnny & Betty Roberts for Property and Business Assets Located at 1002 MLK Blvd. in the Amount of $345,000.00 XIIi. Future Agenda Items XIV. XV. XVI. XVII. XVIII. A. Consideration of GreenCentive Addendum to Direct Incentive Funding Program B. Property Exchange between CRA and City Comments by Staff Comments by Executive Director Comments by CRA Board Attorney Comments by CRA Board Adjournment COMMUNITY REDEVELOPMENT AGENCY - ROLL CALL VOTES Jer Ta lor Chair Woodrow Hay, Vice Chair Jose A. Rodriguez Ronald Weiland Marlene Ross Woodrow Ha Vice Chair Jose A. Rodri uez Ronald Weiland Marlene Ross Jer Ta lor Chair Jose A. Rodriguez, Ronald Weiland Marlene Ross Jer Ta lor Chair Woodrow Ha Vice Chair Ronald Weiland Ma rlene Ross Jerry Taylor, Chair Woodrow Ha Vice Chair Jose A. Rodri uez s:\cc\wp\minutes\cra\roll call sheets.doc YES YES YES YES NO NO NO NO YES YES YES YES NO NO NO NO YES NO YES NO YES NO YES NO VI. CONSENT AGENDA: A. Approval of Minutes- eRA Budget Workshop August 10,2009 MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD BUDGET MEETING HELD ON AUGUST 10, 2009, AT 6:00 P.M., IN THE PROGRAM ROOM, BOYNTON BEACH CITY LIBRARY, BOYNTON BEACH, FLORIDA PRESENT: Jerry Taylor, Chair Woodrow Hay, Vice Chair Jose Rodriguez Marlene Ross (arrived 6:33 p.rn.) Ron Weiland Lisa Bright, Executive Director Jim Cherof, City Attomey I. Call to Order - Chairman Jerry Taylor The meeting was called to order at 6:00 p.m. II. Pledge to the Flag and Invocation Vice Chair Hay offered the invocation followed by the Pledge of Allegiance to the Flag. III. Budget Workshop Goals Lisa Bright, Executive Director, announced Community Redevelopment Agency staff met with each Board member prior to the meeting in order to have a positive discussion. She reported one item of great import was the fact that staff would not know the millage rate for the City and the County until after September 22, 2009. Due to the timing for the budget, if they did not receive policy direction and consensus on existing programs or new programs and projects, they could not finalize the budget. Chair Taylor emphasized it was important for the Board to have all concems addressed. The Board would have to wait until after the City's budget, which would not be final until after September 22nd. 1. Review of Budget Detail and Scenarios Susan Harris, Finance Director, explained the budget was designed to depict the General Fund, the Project Fund, Debt Service, and their associated details. There were also budget projections included with the different millage rates and their associated scenarios under the rates. Staff would also discuss Optional Projects, Ms. Harris explained the charts were formatted the same way for each department. The proposed budgets were based on the 7.3 millage rate. Any increase or decrease in the line items was indicated by amount and percent A General Fund Overview was made, This budget had an overall reduction of 22%. Staff approached vendors apprising them of the substantial reduction of revenues regardless of the 1 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 millage rate and renegotiated the contracts. Rent for the current office was renegotiated down. Property and cleaning vendors reduced their rates, The marina rates were not reduced, The management company, along with Mike Simon, Property Manager, was assisting in the marina development by overseeing the marina construction, Further decreases were realized in travel, membership and dues; and equipment and costs The marina operations reflected a reduction in the budget from last year. This was due to a decrease in sales volume in terms of both dollars and gallons of gas sold. Gasoline prices were very high last spring until late fall. Boating enthusiasts stopped using their boats as much or reduced their fuel consumption. Accordingly, staff did not purchase as much gas. Ms, Harris preferred to be conservative in their budget and indicated staff may have to return to the Board with a budget amendment in the event they need to purchase more fuel. It was noted a change in millage rate would not affect the marina budget and, in effect, the revenues equals the expense, so there was no real savings, Ms. Harris explained if the marina were factored out of the Community Redevelopment Agency budget, there would be a 13% savings. Discussion also turned to an increase of 194% for the Community Redevelopment Agency Board. Ms. Harris explained that increase was because the Board would be creating a new Board with seven members. Chair Taylor requested discussing this item later in the meeting as he felt a five-member Board would be better than a seven-member Board, The increase encompassed contractual expenses, Nothing was budgeted for the electronic agenda or computers in the current year. Only $15,000 was budgeted for next year. Staff had an interlocal agreement with the City regarding the item and would have to pay the amount to the City regardless of whether they had a new Board or not. They would also need to purchase computers for the new Board members, It was noted a larger percentage of the expense would still apply if there were a five-member Board, Internet connection fees for the laptops were not included. In total, there was about a $5,000 to $6,000 difference in the budget from a five- member Board to a seven-member Board, Funds were budgeted for the members as miscellaneous costs for community support items. The amount was about $1,000 per member; however, any monies given had to be voted on by the full Board and the funds were not split amongst the Board members, The funds were not discretionary funds. In the past, there was a $15,000 pool of monies for the Board to use collectively. This year, the amount was reduced to $7,000, The members discussed the delivery of board meeting materials and a suggestion was made members should pick up their meeting materials, Some members preferred to do so at City Hall, or pick them up on the weekend due to work schedules; however, keys would be needed if the members picked up the materials at the Community Redevelopment Agency office. It was noted the delivery of the materials may be able to be discontinued due to the advent of the electronic agenda and the delivery services could be used on an as-needed basis, It was anticipated many of the new Board members would work full time. The total for delivery services in the entire budget was $10,600, which was less than the $11,100. Ms. Harris clarified delivery services encompassed delivery of items to elected officials, for auditing services and auditing requirements the use of FedEx, registered letters and the like, Other items requiring delivery services had to do with contracts and recording various items. If needed, the amount could be adjusted during the year. It was mentioned if the budget were not changed, behaviors would not change, 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 The Executive Department budget had an overall reduction of 3% and encompassed the Executive Director and the Administrative Services Manager. Vacant positions were omitted from the budget and only nine positions were included. Equipment costs were $1,000 and were for items like computers, if a projector broke and similar type items. The Finance Department budget had a reduction of 1%. Each budget would be less this year because they would not be travelling to conferences. In order to get the continuing education credits staff needs for certification, they budgeted career development by department. There was discussion about cell phones. Staff was on the same plan. Last year all staff members had cell phones through the IT Department. This year, the expenses were broken down by department. Overall, cell phone expenses dropped by 9% in all departments. The difference this year was one staff member did not want to take advantage of the $60 for the cell phone and some staff members had their plans through the govemment-preferred plan. That Change resulted in a savings of about $100 per month. The Planning budget increased overall by 1 % due to career development items. Staff was asked if there was any opportunity for reductions in membership dues, subscriptions or anything else. Ms. Harris explained they cut back last year and had an overall reduction in the general fund budget of 17% and the department budgets were already lean, Last year, salary increases were not budgeted as well. The Marketing and Business Development budgets were reviewed. The Marketing and Special Events positions share an assistant to help them with their duties, The funds for videoing downtown businesses were taken from the Professional Services bUdget. It was a staff driven event performed by staff using Community Redevelopment Agency paid for equipment. The photography and video amount in this department budget was for Twitter; video for You Tube, social media, podcasts and a new Community Redevelopment Agency updated marketing video, The Website videos were paid for under the Professional Services Budget. Ms. Bright noted the Community Redevelopment Agency follows best practices. While there was an increase in the budget, it was pointed out that due to staff's marketing efforts they were considered one of the three top-rated agencies in the state. It was important they be current with information in electronic form. The Special Events budget increased by 1 %. There was discussion about the fireworks display. After brief discussion, it was agreed that event would be addressed later in the budget. The budget for Insurances reflected a decrease of 12%. The reduction was due to the Community Redevelopment Agency no longer having to insure the Old High School. The Professional Services budget was reduced by 22%. The Professional Services Legal Fees were split between the General Fund for general administrative matters and the Project Fund for items that were project specific. The amount for legal services was reduced from $200,000 to $100,000 in the General Fund for next year. In total there was $100,000 from the General Fund and $75,000 in the Legal Fund. The City Staff Services line item was increased to $15,000 due to Interlocal Agreements with the City for Human Resource services. Personnel Services was for temporary help and that line item was reduced. There was discussion if an employee was out on leave, the employee was out due to a policy and there would be a salary savings. Ms. Harris responded there was no matemity policy. The 3 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 employee uses their accrued vacation, sick and comp time. Once that time is used, the leave is unpaid. Discussion ensued that unpaid salary monies could be used for temporary purposes and there could be a savings realized, but it was also argued it was double dipping. Ms, Harris explained staff budgets the funds because there are times when they need temporary help. There was no short-term disability benefit for staff and sometimes staff cannot wait until an employee retumed to work. A person was needed in the office that would need to be paid, If staff reduced the amount, they could always return to the Board for additional funding, The amount was decreased $15,000, Attomey Cherof pointed out Legal expenses were reduced last year and this year. In a recession, the Community Redevelopment Agency was doing less and would have fewer projects underway with fewer legal tasks to correspond with those activities. Additionally, staff stepped up and assumed some tasks, thereby reducing the reliance on legal. Attomey Cherof also had the benefit of access to documentation for research, which an independent attorney would not have. He pointed out the Board should be cognizant of that Comments were received it was hoped the firm would stay on and that on the City Commission level, fees were kept to a minimum. Comments were also received the Board should not review the budget only on its decrease in dollars from the prior year. It should be reviewed according to its merits in the current year, as budgets from prior years may not have been correct Personnel budgets have headcounts and items shift If action was needed the issue could be brought to the Board, It was suggested if staff wanted a tight budget, then they should not have contingencies built in, as the contingencies would be used. There was consensus that personnel services should remain as was proposed at $25,000. The Community Redevelopment Agency marketing website services line item was discussed. The amount budgeted included the videotaping of the meetings, website upgrades, the annual report which was used as a marketing tool, and the downtown marketing video was included in the line item, which is done largely by CRA staff. The website should be launched by August and the entire item should not exceed $10,000 to $12,000, The videographer was included in the line item, The breakdown was about $28,000 for the 2009 Annual Report, $16,200 for the Community Redevelopment Agency website, $3,600 for the website maintenance and the trolley website was $1,800. The purpose of videotaping the meetings was a best practice and many citizens liked it Citizens could download the meetings and obtain the minutes there, The website receives about 2,500 hits. It was suggested tracking how many individuals watch the videos to determine whether the service added any value, Staff agreed to request the webmaster track the information, Funds were not appropriated for Property Owner Assistance for the Brownfield Designation Programs, The funds for the Economic Development Plan were expended. Funds for the Small Business Development Assistance were used to create a database for 500 businesses, and unused funds could roll over into unencumbered funds once the audit was complete. The bulk of the money; however, was used for the creation of the database. It was not standard practice to budget monies they did not know they had. It was pointed out funds could not be allocated from the General Fund for next fiscal year for General Fund items; rather, the unused funds must be used for redevelopment projects. There would be discussion that funding for Small Business Development Assistance would be addressed in the Project Fund Professional Services budget It was also noted the Small Business Development Assistance was a recommendation of the Economic Development Plan, 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10,2009 The Buildings and Grounds Budget had a slight decrease. The equipment line item encompassed copier leases. There was much in-house promotional material being promulgated and the amount covered the color copy excess charges. It was questioned whether the equipment line item should be in the marketing budget. Ms. Harris did not have the copy expenses broken down by department. There was $30,000 budgeted and there was a copy machine coming off lease in June. Staff anticipated using the City's vendor as a bid and realizing a savings. Discussion also included paying the Marina Village Association Dues because the agency owned the fuel station and various easements. The dues were paid in order to be included in the master association. They were also paying property taxes for structures that were not yet demolished. Staff formally requested a hearing on the property tax valuation for the property in an effort to save money and felt it was probably the only property in Palm Beach County that increased, The Boynton Beach Boulevard Extension did not exist. In order for the Promenade and Marina Village to be constructed, staff had to create another ingress and egress to accommodate the density needed there. The Community Redevelopment Agency floated a bond (Bond #1) and constructed the Extension and the Promenade Walkway for $9 million dollars. Although the improvements were on City property, the Community Redevelopment Agency paid to do it and paid for the maintenance of the hardscape. The Community Redevelopment Agency also maintains the improvements and the softscape, which included landscaping and irrigation, The Marina budget decreased by 40% due to the decline in the economy and sales. If the marina were not included in the budget, the entire bUdget would be reduced by 13%, The Information TeChnology budget decreased by 7%. A new server would be needed next year at an estimated cost of $8,000, The Contingency Account Budget was reviewed which showed a reduction of 68%. A comment was received that the additional personnel costs should be part of the contingency fund and there should not be multiple contingency funds. Ms, Harris explained last year there was a main break in the street at the marina the Community Redevelopment Agency had to repair. A special meeting was held to authorize the repair at a cost of $30,000, Those repairs were not in the marina budget. Another example of expenses taken from contingency funds were with the Adult Entertainment and Liquor Licenses. Staff did not have all the money needed in the development line item, so the extra was taken from the contingency fund. It is always prudent to have funds available for unforeseen events. Ms. Bright explained once the audit was finished, remaining funds would come back to the Board for reprogramming. The Personnel Services budget was reviewed, The car allowance for the Director and Assistant Director were commensurate with the car allowances for the City Manager and Assistant City Manager. There was discussion the City Manager's car allowance was $450 per month. Ms. Harris would verify the amount of car allowance he receives, The Operating Expense budget was reduced by 53%. Funds for design, engineering and professional services were contained in this budget. Legal expenses associated with projects were also discussed as there were a number of contracts pending. The amount was estimated to the end of the year. 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Ms. Harris explained fund accounting for governments to the Board, Previously, all funds were rolled into the General Fund and at the end of the year, the financial statements never reflected monies were taken out of the General Fund, put into specific funds, capital projects, debt service, etc., and then rolled back up. When Ms. Harris assumed her position, the auditor indicated the prior way of operating was incorrect and a separate project fund needed to be created. That was why the members saw a difference in the budget from three years ago. General Fund expenses were kept separate and items belonging in the Capital Project Fund were kept in the Capital Project Fund, There were questions about the Small Business Development Assistance and Ocean Avenue - Main Street Designation items; however, there were no changes made to the budget The Capital Outlay budget had a reduction of 27%. There was $100,000 rolled over from a few years ago for the Community Caring Center, that was put in the budget as a placemaker. Those monies could be reallocated. Demolition fees were reduced by $25,000. The $1 million for the Heart of Boynton would not be used this fiscal year and was contained in the new budget The original amount was $1.6 million and it was now at $1.2. It was noted the figure could change depending on what occurred during the year. The Affordable Housing budget increased 10%. The Residential Improvement Program had $100,000 budgeted, Of the $850,000 budgeted for the Homeowners Assistance Program, $150,000 was anticipated to be left over from Bond #2 proceeds. There was discussion the Homeowners Assistance program offered $50,000 down payment assistance. The budget also encompassed the Affordable Access, (RTG) program. This current year $400,000 was budgeted for the RTG lots, but all the money would not be used, The Ocean Breeze Homeowner's Assistance Program, handled by American Realty, would purchase lots at $20,000 each. The money would be recycled in escrow and distributed as down payment closing cost assistance, Since the Agency was under contract with the developer, they were obligated to reflect the monies as the agreement stood and show the funds as both revenue and an outgoing expense, In actuality, there was a zero impact on the budget The source of the $600,000 was American Realty paying the agency $20,000 per lot and the agency then expending the funds via down payment closing cost assistance. The Economic Development Programs budget was reduced by 24%, The reduction had to do with the trolley operation, leaving funding for the north route only, running Monday through Fridays only. There was a $100,000 budget from the TIF funds for the Preserve Cornerstone should the developer request his allocation, The allocation was based on the amount of affordable housing units, The Projects and Programs budget was reduced 1%. The budget for the Police still included a 5% merit increase. If there was no increase for Police personnel costs, it was possible by the time the budget was brought back for final approval, that the amount may be decreased, The proposed Special Events budget was reviewed. Ms, Bright explained these were proposals based on ongoing events and they were trying to maintain the current level of service. Developer sponsor dollars for events were scarce. This year the City could not help support the Christmas Tree event The Agency could no longer hold concerts at OceanFront Park because it was not within the Community Redevelopment Agency District 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Movie Night at the Intracoastal was held in conjunction with the Palm Beach International Film Festival. Mama Mia was shown and the event was a sing-along. This was an event staff was handling themselves and could expand, There was conversation Movie Night at the Intracoastal was missing an opportunity to attract individuals to the downtown. It was suggested the Agency consider moving the event to the Library. Staff agreed to consider other locations, Moving the Oceanfront Concert Series was also discussed. Chair Taylor explained the location at the beach attracted many people and if moved, some patrons may be lost. It was thought the only area that could accommodate a concert would be by Hurricane Alley, Two Georges or Banana Boat, as it made no sense to assemble individuals in an area that was not downtown. Ms, Bright was not adverse to trying another location but pointed out they had moved the event once before and it was not successful. Staff agreed to consider other locations for the OceanFront Concert Series, The Fourth of July event would remain as it was. The Community Redevelopment Agency contributed to Family Day at the Sims Center. The event had music, church groups, vendors and the eye being on the historical focus, The Community Redevelopment Agency contribution also included books for schools. The community's perception of the City at the event was very positive, as the City was supporting the community, Mr. Rodriguez suggested a similar event be held at the south end of town, Discussion followed the Boynton Gala had been held in the past but was discontinued. The southwest quadrant of the City did not host any special functions and the southeast quadrant had the Medieval Faire at Jaycee Park. Staff was urged to set funds aside for a potential event on the south side of town, although it was mentioned Pence Park had limited parking. Ms, Bright agreed to set aside $5,000 for an event. She would consult with Ms. Biscuiti about the matter. The Debt Service Fund was reviewed. Ms. Harris explained staff had a concem that with the reduction in the fund balance that they may not have enough operating funds from October through December due to TIF funds being received in January. She clarified the fund balance was fine this year but it may not be the case in the next fiscal year. The information was a placeholder. When the City was complete with their audit, Ms. Harris will obtain a term sheet and then seek both the Board's and City Commission approval. The Board recessed for a break at 7:51 p.m. The Board reconvened at 7:58 p.m. Chair Taylor opened the floor to public comments. Sister Lorraine, 145 NE 4th Avenue, discussed the increase in audit services. Ms. Harris responded the increase was in the event they were subject to a single audit. If they received a grant of $500,000 or more, they were required to have the audit, which would be an additional expense. At the moment, they did not have any grants but they hoped to obtain such grants. Ms. Harris explained there were checks and balances and staff was stringent. The purpose of the audit was not to detect fraud, it was to indicate the financial statements were 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 fairly represented, or whether there was a misallocation or misappropriation. She pointed out that occurred in the County years ago, and by the time the County realized the situation, it was too late. There was another instance in West Palm Beach that revealed there was $3,5 million in parking funds that should have been collected that were not. An audit revealed there were monies past due and the records were so poorly recognized it was impossible to calculate how much money was due. That was the purpose of an internal auditor. An independent financial consultant comes in and randomly tests at a certain level, once or twice a month, The individual reviews every contract and transaction, Victor Norfus, 261 N, Palm Drive, spoke about the Capital Outlay Project Funds and the Infrastructure and Streetscape line item. He inquired about the 4th Street project in the Heart of Boynton and Economic Stimulus funds, Ms, Bright explained the stimulus funds did not belong in the Community Redevelopment Agency budget. Staff partnered with the City for the 4th Street project, which was currently underway. The Heart of Boynton Project had monies encumbered by the Board for the alleyway abandonment, the Business Incubator program, land acquisition, trash pickup and development assistance and programs, The funds must be reflected in the budget, and they were obligated for the Heart of Boynton, Mark Karageorge, 240A Main Boulevard, put it on record he was impressed with this year's budget. He commended Ms. Harris and staff, Charles Ness, 1902 SW 13th Way, requested the trolley be restored even if patrons were charged. He indicated the trolley should go to the beach, which presently was not available via mass transit. It was noted the beach was not in the Community Redevelopment Agency district and at one time they tried it, but it was unsuccessful. He also explained his experience on the trolley was terrific. The trolleys were always on time. Mr. Rodriguez explained they never had a south trolley, as ridership was minimal. They also considered a pay per ride, but would not break even, It was also noted some of the riders could not walk to the stops, Alan Hendricks, 122 SE 4th Avenue, thanked the Board for their service, He spoke about the Old High School and advised he organized an effort to keep the school from being torn down, He commented economic development could be spurred by preservation efforts. He requested the Board find monies for it and explained it appeared the Board was waiting on someone else to make a move. The Community Redevelopment Agency, the citizens and the City needed to work in concert. He advised he could obtain grants but he needed seed money and the Community Redevelopment Agency and City had to act as if they want it. Mr. Hendricks advised they started a Face Book page and 200 individuals signed up to work with fundraising individuals, He had experience in this area and his firm expended time and effort on these types of projects in the past. Mr. Rodriguez requested discussion regarding some of the monies being rolled over from other projects. He thought if they provided seed monies, the school could be stabilized until the structure could be saved, and more specifically, this would involve stabilizing the roof and painting the structure so it would not be an eyesore. He viewed the structure as an opportunity to redevelop the downtown. 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Ms. Ross agreed, She worked with the Florida Trust for Historic Preservation, who was also concerned about the school. She explained the building was on the 10 most endangered buildings lists. Ms. Bright explained the Community Redevelopment Agency does not own the Old High School; rather the building was conveyed to the City in January. The City was also entertaining an outstanding RFP that included bonus points for saving the structure. The core of the issue was the use and no one has been able to identify one. The City had budgeted $650,000 last year for the school and she was unaware if the funds were still available. Chair Taylor advised those funds were taken out of the budget Further discussion followed that only certain types of organizations could obtain funds. Mr. Rodriguez explained the Community Redevelopment Agency does not own the building, but they could still preserve il. He expressed unless they allocated funds, as a contingency, they could not save it It was noted the RFPs were due after September and it was anticipated the responses would not come in. Mr. Rodriguez thought the monies should be allocated now as a backup for the RFPs not coming in. Ms. Brooks explained it is difficult to fundraise without a use for the structure. If there was no use for the budget, there is no budget; if there is no funding source, there Is no source of grant She explained the community galvanized to save the High School, but not what its use would be and that was the real issue. Further discussion ensued that the downtown master plan brought people together. Ms. Bright noted there was dissatisfaction the Community Redevelopment Agency did not aggressively try to put a user in there and did not go to RFP a second time. The ownership would have to transfer to an independent entity in order to fundraise, She explained you could not fundraise unless there was legal title to the property. Mr, Rodriguez inquired if they could do a fayade grant Attorney Cheraf explained staff could spend money related to the High School if it fell within one of its development or redevelopment plans. Any expenditure would have to fall within the parameters of the Community Redevelopment Agency programs. Ms. Brooks explained fund raising was difficult because there was no tax benefit to give money to the City to save the building for a donor. If they had that kind of money, it would have to be given to a 501 (c)(3). It was suggested the matter be tabled and discuss it at another meeting. Mr. Weiland explained he originally was in favor of saving the building, and changed his mind because no one has done anything with it He was open to saving it if individuals came forward. Mr. Hendricks explained they were working on a three-year proposal that would define some of the uses but not pigeonhole them into a use. The 501 (c)(3) was part of their first-year action plan. Mr. Oyer, Jr. was committed to assisting them. The initiative started and stopped. He pointed out that was where the City, Community Redevelopment Agency and individuals interested in the project came in. There was agreement the Board would discuss the matter at the next regular meeting, and as long as it was discussed within the budget, it would be fine, otherwise it was a moot point 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Herb Suss, 1711 Woodfern Drive, inquired what the Community Redevelopment Agency was owed, Ms. Bright explained Mr. Cherof was working on a possible foreclosure action regarding the Delray Boynton Academy where the Community Redevelopment Agency and the County lent $100,000 to the Delray Boynton Charter School The Board was trying to collect some of those funds. Other than that, there were no other outstanding collectibles. Barbara Ready, 329 SW 13th Avenue, reminded the Board of the EDAW report and that several charrettes indicated the use of the Old High School was entwined with the goals and mission statement of the Community Redevelopment Agency. The mission statement indicated the Community Redevelopment Agency would provide a cultural/civic campus along Ocean Avenue and the usage of the Old School was identified as a civic/cultural use, She felt the City should own the faCility and the community would assist them She thought the structure should be a public facility. Ms. Bright put on record the Old School Square cost the City and Community Redevelopment Agency each $350,000 because of the labor to run a large facility, Herbert Macintosh, 7549 Colony Palm Drive, explained last year there was $2 million budgeted for land acquisition and infrastructure. A challenge in developing the Heart of Boynton area was acquiring the properties as many owners wanted too much for their property, He anticipated property values would drop over the next year and land could be acquired at a much lower rate. Development would therefore not be constrained by owners who would not sell. It was noted the 4th Street line item was for streetscape and infrastructure. The Heart of Boynton Project and Land and other Capital Expenditures totaled $2 million, In the proposed budget, the amount was reduced to $1 million, Vice Chair Hay explained if there were monies obtained, they could be used for acquisition, Ms, Bright explained the trolley operator was present to discuss the southem route and the possible scenarios and fare collection for the routes. Molly Stahlman, Proprietor of Molly's Trolley's reviewed a powerPoint presentation, The presentation is included with the meeting materials and addressed the demographics of the Green Line Route and the Red Line. Information such as riders per day on each line, caveats for passengers of the red line, such as the ability to get to the bus stop and destination preferences were reviewed. Four options were presented with the associated cost information presented on a yearly basis and a seasonal basis. Information on a Saturday northem route, ridership and capacity were presented. The trolley cost variables were presented which included the elimination of Saturday service on the North Route, charging for the trolley ride on both routes, and Offering a South Route a few days per week. A matrix with all the options was presented for the Board's consideration. If the riders were charged 50 cents for the Saturday route, they would lose 15% of their riders, Ms, Bright explained the trolley was her first project once she joined staff and it takes a long time to build a route. It was thought the Board could not make a determination of how to proceed because they did not have the total budget figures and they should keep the item as a placeholder. 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Discussion followed about the length of the trolley operator's contract and the number of hours, Contracts were generally eight or 12 months. Mr. Rodriguez wanted to confirm other funding sources that may have monies left over. The Heart of Boynton project had monies left over from acquisition that would roll over into the HOB budget this year. The Ocean Breeze lots budget was a wash because the project may not get off the ground. The Constrained Roadway at Lower Level of Service (CRALLS) transfer monies was a wash. The unencumbered proceeds from Bond #2 were $150,000 but those monies may not be available because some of the funds were designated for RTG lots. There was a deadline for RTG to request the funds. There was a Capital Acquisition rollover from 2006/2007. Mr. Rodriguez suggested this item be a placeholder. The project fund balance of $400,000 was not designated for any specific project. It was embedded in the project itself. Mr. Rodriguez noted with the $400,000 and the $150,000 from RTG there was potentially $550,000 available. He recommended the Board allocate and encumber the funds to stabilize the high school. It was great seed money and was an opportunity to support the historic high school, as the money was unused and unencumbered. Discussion followed the site was not a historic site and there was no use planned for it It made no sense to put funds into a project in which the City and the Community Redevelopment Agency would not invest $8 million, The members discussed authorizing seed money only if the City would match the funds and have unity between the agencies. Mr. Weiland thought a use for the building should be identified and that the building was a piece of Boynton's history. It was thought there was room to dig in the City to find money. He advised he could only support it if the City and Community Redevelopment Agency were in favor of it Discussion tumed to how the high school was part of Boynton's history, Vice Chair Hay advised he was in favor of saving the Old High School, but questioned at what cost He recalled in the past individuals informed the City Commission they had a plan which never materialized. Now there was another individual indicating the same thing. While he was willing to wait and see what could happen in a reasonable amount of time, he did not want to support a project that would continue to drain the City coffers. Until the organization presented something, he was not in favor of seed money or any other funding. Ms. Ross indicated the time was now to make a commitment The roof needed to be stabilized and the City needed to support it at the Commission level. It is on the Florida Historic Preservation List of 10 Most Endangered Buildings. Mr. Weiland agreed they had to be united and say they are willing to move forward with it. Motion Mr. Rodriguez moved to allocate $500,000 to restoring and stabilizing the Old High School. He clarified since the budget was not complete, that the motion was meant to be a placeholder. 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 There were questions whether a motion could be made in a workshop, Attomey Cherof explained it was only to set the funds aside in the budget workshop discussion. Ultimately, the budget would be approved in September and the matter would have to be voted on then. Mr. Weiland seconded the motion, Chair Taylor advised the Board had not wanted to make a decision on the trolley and set it aside as a placeholder and now the Board wanted to put more money aside for the Old High School. Mr. Rodriguez explained he allocated $500,000 and there was $550,000 that was available, Potentially there was enough room to operate the trolley, Ms, Bright cautioned the millage was still unknown and there were other options, Ms. Harris clarified this was an important discussion because if the millage rate stayed the same they were looking at a budget deficit of $340,531. If they added another $500,000 to it, staff would have to cut over $800,000. Mr. Weiland also noted if there was no commitment from the City to be involved in the endeavor he might not support the project Motion Ms. Ross made a substitute motion to set aside $500,000 with the condition this is a comparable matched by the City Commission level. Mr. Rodriguez seconded the motion. A vote was taken and the motion passed 3-2. (Chair Taylor and Vice Chair Hay dissenting.) Attorney Cherof clarified the above was not an appropriation - it was a priority as the Board moved forward in the budget process, The funds were not locked in, It was noted further staff instruction should be given in the event the funding did not occur. Direction on other programs was needed. Ms. Harris explained the trolley needed to be addressed as the contract trigger was August 15, 2009. If the Board opted to move forward with the contract, the trolley could not be touched when everything else was realigned, Ms, Brooks explained the figures were for discussion and they had no way to know what the millage rate would be. Staff was not married to any particular item; rather they were only looking for ways to activate the downtown area. The public market was discussed. It was noted infrastructure or some type of covering for the market would be needed for the project, which was located on vacant property at 500 Ocean A venue, Discussions were held with the property owner but funds for research to develop a public market were needed. It was anticipated the market would cost about $250,000, Ms, Bright had attended a session about the market but the cost to bring the people to the market was too high, so the market was going to the people. The initiative was more like an event or an attraction and grant monies were available to help develop it. Parking was also discussed. In other areas, public markets were routinely scheduled for a certain day - rain or shine. There was a main street area that could be used and the merchants selling their products would have to be registered vendors. Discussion also followed about why it would cost $250,000, It was noted staff was trying to focus on the loss of economic development dollars, 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 The location was anticipated to be in the area across from Hurricane Alley; however, the Code currently did not allow for such a function. Staff agreed to forward links to the members for their review of the concept and there was Board consensus for staff to research the matter further, Mr. Rodriguez noted there were proposals to sell land, which could bring in revenues through the budget cycle. As to the Old High School, Ms, Bright explained the challenge was how soon they could deliver the $500,000 investment money to increase TIF without renovating it Ms, Bright was unsure even $1 million could change the building, making it active space, and increase the tax revenue. Mr. Weiland suggested $1 million be designated between the Community Redevelopment Agency and the City and put in an escrow account to let the community work on their proposal. If community funding was not received, the set aside could be voted on to be abandoned and the funds released for other projects, Ms. Bright responded the issue was if the agency was going to make that commitment, the best interest would be to sell 211 Ocean to try to fund that. No matter if $1 million or $2 million were spent on the Old High School, it would not be active space in the near tenn. She pointed out then it would make sense to sell 211 Ocean and receive income, which could allow them to move forward other projects such as Ocean Breeze, Spending money on the Old High School would not increase TIF revenues, As director, Ms. Bright felt she had a responsibility to advise the Board of that. Chair Taylor preferred to see 211 Ocean renovated and staff office moved, Mr. Rodriguez was not in support of moving the Community Redevelopment Agency. He felt renovating the Old High School, as a long-tenn investment would be ten-fold of an office space on Ocean. The Old High School was likened to the Children's Schoolhouse Museum. It was noted the City subsidizes the Museum. Ms. Bright explained the Old High School was purchased by the prior Board to activate Ocean Avenue. She expressed frustration they would spend $500,000 on a building they do not own, Mr. Weiland explained there were uses for the building at211 Ocean Avenue, and he liked the idea of having the Community Redevelopment Agency office on Ocean Avenue. As to the Old High School, each entity had to be a partner. Mr. Rodriguez explained every citizen who pays taxes owns the building. Vice Chair Hay liked the idea of the Community Redevelopment Agency having office space at211 Ocean and he liked the idea of generating TIF. Mr, Weiland left the meeting at 9:27 p.m, He inquired if it would be cost effective if they were to renovate the structure for residential. The structure was currently zoned residential. Ms. Brooks explained the rent they get on any properties does not cover the tax they pay. If, however, the Community Redevelopment Agency renovated the office space, it would still have a historical feeling to it Ms. Brooks responded it would. She noted there were ways to have the carrying costs close to what they are paying in rent, but it was a Board decision. The building was sitting vacant. Anytime there is a vacancy whether in lot or building, it does not add to the ambience of the street. Mr. Weiland returned to the meeting at 9:29 p.m. 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Chair Taylor requested the Board give direction to staff as to how many members the new Board would be, He suggested five members. It was noted two additional members could be added later. It was further discussed that if the Board had seven members and they wanted to reduce the number of members, that it was difficult to accomplish as the Statute has provisions for removal of Board members. It was not the same as changing the Board from an Independent Board to a Commission, as there was a requirement for having a statement of cause, It was decided the number of members would be discussed on the City Commission level. Vice Chair Hay inquired if it would be easier, if a five-member Board were in place, to add another two members later. Attorney Cherof explained if the Board members opted for a five- member Community Redevelopment Agency Board, a revision to the Ordinance would be needed and it would require three votes. Ms. Bright summarized the direction to staff as any leftover monies in the budget would be put towards the Old High School and the Public Market. As to the building at 211 Ocean, she indicated there was no clear consensus regarding the building. Ms, Harris explained the mortgage on $900,000 would be approximately $5,400 per month. It would take approximately 18 months to construct, The sculpture garden was an idea put forth by the community to change the land use and zoning to commercial, to create art and allow public entities to use the building, She inquired if there was any interest in the proposition, Mr. Weiland was under the impression the zoning was commercial. Ms, Bright explained the goal was to change the designation to commercial and activate the space. Mr. Rodriguez expressed the structure should be left alone this year as it would take $2 million to fix it. Ms. Bright explained that was an inconsistency. Mr. Rodriguez thought the Old High School would be a civic center. Ms. Bright clarified the issues were downtown issues, In Delray Beach, their Community Redevelopment Agency renovated the Old School Square Building, which stands as an active civic use, totally supported by the City and Community Redevelopment Agency. The Community Redevelopment Agency purchased a historic building for $1.4 million from the City, invested another $900,000 into it, which stands as their office today and for historic preservation, Historic preservation is costly and it did not matter what the structure was, The Community Redevelopment Agency was not trying to save the building, and on a staff level, there was ongoing dialogue that nothing was being done in the downtown. She emphasized the building was an asset on the books for two years that remained stagnant. Staff felt it was critical to activate the area especially in light of the fact that they were going to push for concerts at the library and in front of the Children's Schoolhouse Museum. Ms. Brooks explained her issue with the High School was if it would be a performing arts center, the building was not set up as one. If the community desired a type of performing arts amphitheater, the high school in its current form would have to be changed significantly. She clarified that was why she inquired what the use would be when it came to fundraising, There was a huge difference in repairing the structure and making it whole. Mr. Rodriguez explained there was an advisory Board being set up to advise what the use was, He indicated the current discussion, and by allocating funds, worked in tandem with their recommendations, If the Board did not like the recommendations, they could use the funds for another use. Ms, Brooks explained restoring the High School was not necessarily consistent with having it as active space, If the Art and Civic Centers were relocated there, nothing would be added to 14 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL August 10, 2009 Ocean Avenue; rather it would just be replacing the use and activity and saving the building. If the Board wanted more activity on Ocean Avenue, then they were discussing some type of performing arts, which the building was not designed for, She emphasized those were the type of discussions that needed to occur. She explained the community needed to determine the use, and it could not be from a handful of individuals, Ms. Bright explained the Community Redevelopment Agency Board regular meeting was September 8, 2009. Since they would not be able to vote on the budget at that time, she inquired if the Board wanted to hold one meeting on September 8 and a special meeting to approve the budget after September 22, 2009, or whether one meeting should be held in September. After discussion, there was consensus to hold a regular meeting on September 8, 2009 and a special meeting on September 29, 2009 to approve the budget. There being no further business to discuss, the meeting properly adjourned at 9:41 p,m. {J!lUv~OkuUf Catherine Cherry , Recording Secretary 082409 15 VI. CONSENT AGENDA: B. Approval of Minutes CRA Board Meeting August 11, 2009 MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING HELD ON AUGUST 11, 2009, AT 6:30 P.M., IN CITY COMMISSION CHAMBERS, BOYNTON BEACH, FLORIDA PRESENT: Jerry Taylor, Chair Woodrow Hay, Vice Chair Jose Rodriguez Marlene Ross Ron Weiland Lisa Bright, Executive Director Shana Bridgeman, Attorney I. Call to Order - Chair Jerry Taylor The meeting was called to order at 6:30 p.m. II. Pledge to the Flag and Invocation Vice Chair Hay offered the invocation followed by the Pledge of Allegiance to the Flag. III. Roll Call The Recording Secretary called the roll. IV. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda Chair Taylor requested Item E. "Women's Circle" be discussed before Item A. "Downtown Master Plan Update," under Xl. "Old Business." This would allow the students in the audience who were involved with the Women's Circle to leave earlier to attend classes. There were no objections by the Board. B. Adoption of Agenda Motion Vice Chair Hay moved to approve the agenda as amended. Ms. Ross seconded the motion that passed unanimously. V. Announcements & Awards None 1 jvjeeting fvJinutes Community Redevelopment Agency Boare Boynton Beach, Florida August 11, 2009 VI. Consent Agenda: A. Approval of Minutes - CRA Board IVleeting - July 14, 2009 B. Approval of Period Ended July 31, 2009 Financial Report C. Monthly Procurement Purchase Orders - None Motion Vice Chair Hay moved to approve the agenda. Mr. Weiland seconded the motion that passed unanimously. VII. Pulled Consent Agenda Items: None VIII. Information Only: A. CRA Policing Activity Report for the Month of July 2009 and District Statistics for the Months of June and July 2009 B. Public Comment Log Monthly Update - None C. CRA Media D. Economic Development Activity Report Mr. Rodriguez thanked staff for adding the "outcome" column to the report. The report reflected 100 people had attended the "Downtown Merchant Mingle" on July 20, 2009. In addition to attracting attendees, Mr. Rodriguez believed one of the CRA's anticipated goals was for the merchants to utilize the services provided by the CRA. This had not been reflected in the report. Chair Taylor pointed out the merchants had been provided a list of the services available through the City, CRA, and Chamber of Commerce, and there would be no way to determine their interest until responses were received. Vivian Brooks, Assistant Director, indicated the only tool currently offered to the businesses by the CRA was the fa~ade grant, and applications submitted for the grant would be presented to the Board for approval. A Small Business Development class would be offered during the next fiscal year and attendee lists would be attached to the report at that time. 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Lisa Bright, Executive Director, noted of the 100 attendees, 47 owned businesses in the CRA district. Armelle's Supermarket was utilizing the design services of REG Architects, and the market would be expanded to include fresh vegetables and flowers. Staff was working with the City to determine whether Code issues could be resolved with the market. Scully's Restaurant had previously received a fac;ade grant and as such, would not be eligible for another five years. Ms. Ross believed many of the merchants who had signed up to partake in available services were interested in utilizing the CRA's video marketing program to promote their businesses. Margee Walsh, Marketing Director, indicated approximately 10-15 business owners had signed up at the event for the video program and approximately 75 had been taped to date. IX. Public Comments: (Note: comments are limited to 3 minutes in duration) Mark Karageorge, 240A Main Boulevard, noted he had received positive feedback on the "Downtown Merchant Mingle." A number of the merchants had expressed delight in the CRA's video program which was free of charge. Conversely, Comcast had approached Kevin Scully, offering an on-camera interview at a charge of $1,500. In response to ongoing requests of the business community, the event had established that the City, CRA and the Chamber were partnering to retain and assist businesses and develop new businesses in the CRA district. Evangeline Mack-Sullivan, co-owner and operator of Rubie's Beauty Center, noted she had been subleasing a portion of the Sims Barber Shop and had been paying $160 per week to Mr. Sims. She inquired why she would be paying this amount to the tenant when the CRA owned the property. Mike Simon, Development Manager, advised the CRA had been leasing the property to Mr. Sims at an annual rate of $10. While the terms of the original contract allowed Mr. Sims to sublet the property, the Board was not aware the subtenant had been leasing the premises for $160 per week. At the last meeting, the Board had discussed a lease renewal with the barber shop. The Board had taken action to continue the original lease with Mr. Sims at the rate of $10 annually, with the understanding that the lease would be on a month-to-month basis. In this way, the City could move forward to expand Sara Sims Park when it was deemed appropriate to do so. Mr. Rodriguez suggested the action taken by the Board be reconsidered. The Board agreed, and staff was directed to place the item on the next agenda for reconsideration. 3 Meeting Minute, Community Redeveiopment Agency Board Boynton Beach, Florida August 11, 2009 Sister Lorraine Ryan, of the Women's Circle, noted several projects significant to the Women's Circle had been identified in the packets provided at the August 10, 2009 budget workshop. She requested the Board's consideration of the pro,jects John McGovern, 2620 Spiceberry Lane, noted a good deal of funding had been spent on the downtown restoration. Pursuant to studies made, he believed it defied logic to assume that the envisioned end purpose of the Old High School had not been defined. He believed the Old High School should be saved, and felt the issue should be turned over to an advisory board. No one else having come forward, public comments were closed. X. Public Hearing: Old Business: New Business: XI. Old Business A. Downtown Master Plan Update (TABLED July 14, 2009) Motion Vice Chair Hay moved to remove Item A from the table. Ms. Ross seconded the motion that passed unanimously. Staff presented a video reflecting the accomplishments and revitalization of the CRA district beginning in 2006, and the Board's direction for staff to create the Downtown Master Plan. A second presentation was made reflecting CRA-funded projects and private development projects that were either completed or underway. Ms. Bright reviewed the Five-Year Action Plan which included the following projects: . Land assembly. . Civic Campus Development program for the western end of Ocean Avenue. . Establishment of an Enterprise Zone, which was underway. . Brownfield Designation, which would be discussed this evening. 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 . Density bonuses, which had already been offered. . Green building incentives. . Community policing, which was underway. . Historic structure inventory. . Streetscape enhancement programs. . Federal Highway gateways and parks. . Expanding way-finding signage. . Infrastructure upgrades. . Downtown trolley route. . Downtown parking deck. . Downtown promotions and programmed events for marketing. With regard to the Civic Campus Development program for the western end of Ocean Avenue, it was hoped monies could be obtained from the Federal Transit Administration for Transit Oriented Development (TOD) assembly. With regard to green building incentives, staff was attempting to quantify building green, and it was believed this issue would be presented to the Board within the next few months. Ms. Bright reiterated a number of the projects would be completed prior to the five-year deadline. As the matter had been tabled for the last several months, staff sought direction from the Board in the event the Board felt a specific project or the redevelopment program was not being addressed by staff. Mr. Rodriguez commended staff for the format used in preparing the "Goals and Guiding Principles of the Downtown Master Plan" and was pleased the creation of a cultural center and preservation of the historic fabric of the community had been included. Mr. Rodriguez felt the Community Committee established at the request of Vice Mayor Hay had been working well. He recommended a community committee be established to focus on the downtown area and the Goals and Guiding Principles. Ms. Bright pointed out that the Community Committee was all inclusive and comprised a broad spectrum of individuals from Districts II and III, as well as outside the CRA 5 Meeting IVllnures Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 districL While the Committee had been focusing on Heart of Boynton initiatives, an agenda could be developed for a forum to include the downtown area. Chair Taylor believed that while the Community Committee had originally been established for the Heart of Boynton, it had grown and currently encompassed the entire CRA area. Rather than forming another committee, Mayor Taylor felt the information should be shared, and feedback provided to the Board. Mr. Rodriguez was agreeable with allowing the existing committee to continue, provided the scope could be expanded to include the downtown area, and that this be emphasized at the next meeting. Mark Karageorge, 240A Main Boulevard, remarked it was the intent of the Community Committee to attract businesses to the downtown area, to enhance the marina, maintain CRA policing and continue the work on the Downtown Master Plan. The Committee was no longer focused solely on the MLK corridor and Heart of Boynton, but rather on the entire CRA area. Ms. Ross was in favor of the suggestion that the Board provide input on the agenda relating to the Downtown Master Plan. Ms. Bright noted staff had worked with the attorney to ensure the process had been followed properly. The meetings were noticed, agendas were provided and minutes were taken. Ms. Bright would ensure the Downtown Master Plan's Five Year Action Plan would be included as an agenda item for future meetings. With regard to Item 4 of the Five Year Plan, "Preserving the historic fabric of the community," Ms. Ross noted while the City did not have a historic preservation ordinance in place, she recalled the Commission had taken action for an ordinance to be developed. She wanted to ensure the CRA was aware of this, as she believed the historic properties in the City would benefit from such an ordinance. Mr. Rodriguez mentioned it had been discussed at a recent City Commission meeting that conflicting feedback had been received from the Community Committee. As such, it had been requested a spokesperson be appointed. Ms. Bright explained this had not been accomplished as there had been no subsequent Community Committee meeting. However, the matter would be placed on the agenda. B. Heart of Boynton Strategies - Consideration of hiring a Project Manager (TABLED July 14, 2009) Motion Vice Chair Hay moved to remove Item B from the table. Mr. Weiland seconded the motion that passed unanimously. 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Mr. Weiland noted staff had been doing an excellent job, and he would not favor hiring a project manager. Motiol1 Mr. Rodriguez moved to deny. Vice Chair Hay seconded the motion that passed unanimously. C. Consideration of recommending a brownfield designation within the CRA Staff had budgeted $20,000 in the current budget year for the designation, as there had been no support at the Commission level. Representatives of the Chamber of Commerce requested the item be reconsidered for properties within the CRA district having commercial, industrial or mixed-use land use categories. A map reflecting the designated brownfield areas and a resolution for the Commission's consideration were included with the meeting materials. Staff recommended approval to the Oty Commission of the resolution and map. Ms. Ross inquired whether anyone in the audience wished to offer comments. Nancy Chandlerl 914 NE 7th Street, believed people whose property values could be affected should be notified of the designation. In addition, she was not certain the opt- out clauses applied to commercial land uses and suggested a legal opinion be obtained. Ms. Brooks noted that State Statutes required notice of a brownfield designation be provided to property owners. Any property owner, whether residential or commercial, could opt out if they chose to do so. Property owners could choose to opt in and would be required to appear before the Board in such instance. Motion Vice Chair Hay moved to approve the brownfield recommendation. Ms. Ross seconded the motion. Mr. Rodriguez noted he would vote against the motion as he wished to leave the matter to the City Commission for its decision. The motion passed 4-1 (Mr. Rodriguez dissenting). D. Review of Contract Options for 12 NW 10th Avenue - Brandom 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florioc. August 11, 2.009 Ms. Brooks advised the contract had previously been approved by the Boare The appraisal of the property set the value for the land at $90,000, and the structure had no value as a result of its deteriorated condition. The asking price was $170,000, IVir, Brandom was provided with a copy of the appraisal and countered with an offer of $110,000, with closing costs to be paid by the CRA. Ms. Bright believed the closing costs would not exceed $5,000. The property was subject to City Code Enforcement liens. The liens could be removed by the City as the property would be given to the City to expand Sara Sims Memorial Park. As the CRA is currently under contract with Mr. Brandom, it would be necessary to cancel the contract and then respond to his counter offer, Ms. Brooks indicated the property was a "crime nest." Motion Vice Chair Hay moved to cancel the contract for $170,000, Mr. ROdriguez seconded the motion that passed unanimously. Motion Vice Chair Hay moved to move forward with the $110,000 proposal. Chair Taylor passed the gavel and seconded the motion. Mr. Rodriguez commented the Board had taken a strong stance on not overpaying for properties and would be setting a precedent by accepting Mr. Brandom's counter offer. He felt the land would only decrease in value and believed the owner would accept the appraised price of $90,000. As such, he would not vote for any amount over the appraised value. Mr. Weiland would offer the sum of $90,000 and closing costs. Ms. Ross felt an offer of $90,000 was reasonable. Vice Chair Hay felt the property was a nuisance as well as a safety hazard. As such, he hoped the Board would take action to rid the City of the property and help the community at the same time. Substitute Motion Mr. Rodriguez moved that the Board offer Mr. Brandom the appraised value of $90,000 plus closing costs. Mr. Weiland seconded the motion. Chair Taylor was in favor of accepting Mr. Brandom's proposal of $110,000. The purchase of the property would allow the CRA the opportunity to clean up MLK Boulevard. He did not believe the Board members would sell their homes at a value set by an appraisal. 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 200S Keturah Joseph, Boynton Beach CDC, felt the Board should take advantage of thE: opportunity to take possession of the property and rid the community of the illicit activities occurring in the Heart of Boynton. Sgt. Joseph DeGiulio, Boynton Beach Police Department CRA Policing Unit, indicated the area in question was riddled with crime, facilitated drug activity and impeded the ability of the police to identify "sellers" and "users." The buildings had not been maintained, represented safety issues and were occupied by vagrants and squatters. Ms. Ross and Mr. Weiland felt the Board should negotiate further with Mr. Brandom. Mark Karageorge, 240A Main Boulevard, noted foreclosure measures were implemented to motivate the property owner to sell so that the neighborhood could be cleaned up. Crime and quality-of-Iife issues were the chief priority of the citizens committee. Chair Taylor could not believe the Board would pass up the opportunity to clean up a crime-infested area in order to save $20,000. Herb Suss, 1711 Wood Fern Drive, agreed a message should be sent to the Heart of Boynton and the area should be cleaned up. The substitute motion to offer $90,000 plus closing costs passed 3-2 (Chair Tay/or and Vice Chair Hay dissenting.) E. Women's Circle 1. Consideration of funding Women's Circle $100,000 for purchase of faci lity 2. Consideration of entering into a mortgage and note with the Women's Circle in the amount of $100,000 Item E was addressed directly before Item A. under New Business. Sister Lorraine Ryan explained the Women's Circle was requesting funding in the amount of $100,000 for the purchase of the building. She provided an informational packet that included the Women's Circle's mission statement, a photograph of the property and an explanation of the property's intended use. It would be the responsibility of the Women's Circle to bring the property up to Code. Applications would be made for a parking variance and permits for the necessary modifications. While the Women's Circle preferred the funding be made in the form of a grant, Sister Lorraine understood it was the desire of the CRA that funding be provided in the form 9 [vleeting f"iinutes Community Redevelopment Agency Boaro Boynton Beach, Florida August 11, 2009 of an interest-free loan. The Women's Circle hac reviewed a draft of the loan agreement and was in agreement with its terms. In view of the Women's Circle's ongoing services to the community, Sister Lorraine requested the agreement contain a stipulation specifying that if after 10 years a larger facility were needed within the CRA district, the building located at 912-914 SE 4th Street could be sold, and reimbursement of the $100,000 to the CRA would be waived. The Board would not address this request. Chair Taylor explained the Board had previously approved funding the Community Caring Center in the amount of $200,000 to assist the Center in the purchase of a larger facility. The Community Caring Center shared space with the Women's Circle and has requested half of the funding, $100,000, be provided to the Women's Circle to purchase the facility. The Women's Circle was currently operating in 620 square feet of space, and the larger facility would double the square footage. Sister Lorraine noted the property to be purchased was not located in the Heart of Boynton. However, most of the clients would be able to walk to the facility, which was within the CRA district. Motion Mr. Weiland moved to approve funding the Women's Circle in the amount of $100,000. Vice Chair Hay seconded the motion. Mr. Rodriguez inquired whether an appraisal of the property would be obtained. He believed this was necessary to secure the equity to the CRA as the lien holder. Ms. Bright articulated the opportunity had been presented to staff by the Women's Circle and as staff had not been involved, there had been no need to secure an appraisal. In addition, the issue of an appraisal had never been addressed by legal counsel. Substitute Motion Mr. Rodriguez moved that the Board approve the funding to the Women's Circle for the purchase of the facility, with the contingency that staff be provided with an appraisal for at least $100,000. Ms. Ross seconded the motion. Sister Lorraine was not certain an appraisal had been obtained. She noted the Women's Circle would not be seeking a loan for the $169,000 needed for the required property improvements. Vice Chair Hay felt it would be unfair at this time for the CRA to bear the expense of the appraisal and felt Legal should have realized this earlier. Mr. Rodriguez expressed discomfort in approving the request without securing the taxpayers' equity in the property. He believed the Women's Circle should be responsible for the cost of the appraisal. The substitute motion passed unanimously. 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Motion Ms. Ross moved to enter into a mortgage and note with the Women's Circle in the amount of $100,000, with the contingency that the appraisal come in at $100,000 or higher. Vice Chair Hay seconded the motion that passed unanimously. Chair Taylor clarified the Women's Circle would be providing the appraisal. Upon submission to the CRA of the appraisal reflecting the property's worth to be at least $100,000, the funding would be available to the Women's Circle. F. Consideration of Trolley Service Contract Renewal Susan Harris, Finance Director, advised if the Board did not take any action by August 15, 2009, the contract would renew for a three-year period at hourly rates to be negotiated with the contractor. Over the last few years, the CRA had made a number of modifications to the contract and Molley's Trolley had always been more than willing to work with the CRA. As a result of the severe economic decline, Molley's Trolley has offered a substitute contract which would include a change in the term from three years to three one-year terms, with an option to terminate annually. The notice period had previously been changed to 45 days, and the vendor would accept this provision under a new contract. The cancel percentage would be adjusted to 28.5% (120 hours), which would benefit the CRA. The adjustment would also include a change from four to seven major holidays. The vendor was also requesting a gas escalation clause and a maintenance buyout. If the contract were to be cancelled during the three-year period, the CRA would be obligated to reimburse the vendor in the amount of $20,000 for maintenance performed. Option 3 calls for the renewal of the current contract or a new contract with the southern routes added for an additional cost. Option 4 called for the renewal of the current contract or a new contract, with the elimination of Saturdays, for a savings of $67,000. Chair Taylor favored Option 4 providing for the new contract as described by Ms. Harris. The contract would provide service for the north route only and would eliminate Saturdays. Mr. Weiland preferred a version of Option 4, with the elimination of one day, saving $67,000, and adding $45,000 for Option 3, with the addition of two days and the southern route. 11 Meeting IVllnme: Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Ms. Harris reminded the Board if the southern routes were reintroduced at this time, the amount or revenue could not be determined. The southern route, as well as the issue of Saturday service could be revisited at the end of Septembe In response to the inquiry of Ms. Ross, it was noted the Shopper Hopper service currently remained in the budget. However, it would be determined in September whether the service would remain or be cut from the budget. Pursuant to the request of Mr. Rodriguez, it was verified the Board could approve the item at this meeting and, prior to the approval of the budget, could include the southern route and Saturday service. Motion Mr. Rodriguez moved to approve Option 4. Mr. Weiland seconded the motion that passed unanimously. XII. New Business: None XIII. Future Agenda Items A. Consideration of GreenCentive Addendum to Direct Incentive Funding Program B. Property Exchange between CRA and City XIV. Comments by Staff Kathy Biscuiti, Special Events Manager, commented the CRA was a member of the Florida Festivals and Events Association, and the annual awards were held recently. She had submitted several photographs taken at various events, and the CRA was the recipient of an award for a photograph of the police taken on the 4th of July. Mike Simon, Development Manager, advised the eRA Policing Unit was hosting a Teen Academy, noting Sgt. DeGiulio would provide further details. Sgt. Joseph DeGiulio, Boynton Beach Police Department CRA Policing Unit, added the Unit was currently hosting a Teen Academy at Intracoastal Park, partnering with the Crime Prevention Unit and Community Action Team. The Academy emphasized teamwork and leadership, with the hope of fostering better relationships with the community's youth. Mr. Rodriguez inquired whether Stacey Robinson, of the Youth 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Violence Prevention Program had been contacted. Sgt. DeGuilio responded Officer John Huntington had contacted local schools as well as the Youth Violence Prevention Program center to enroll the teens in the Academy. The event was Citywide and served 25 teens. Sessions included the following: . August 10, 2009: Instructions on the Unit's canine operation, bike training, gang awareness and CPR (Cardiopulmonary Resuscitation). . August 11 2009: A S.W.A.T. (Special Weapons and Tactics) demonstration, building searches and a crime scene workshop. . August 12, 2009: A discussion on traffic stops, an orientation of the Traffic Unit and an internet safety class. . August 13, 2009: A ropes course in Tequesta. . August 14, 2009: An obstacle course and graduation. Sgt. DeGiulio looked forward to hosting an event for winter recess. XV. Comments by Executive Director It had been noted at the August 10, 2009 workshop that the automobile allowance amounted to $450 for the City Manager and Assistant City Manager. Ms. Harris verified that the automobile allowance for the CRA Director and Assistant Director were equivalent to that of the City Manager and Assistant City Manager. Ms. Bright referred to comments made by members of the CRA Community Committee regarding CRA staff. As a result, Senator Christopher Smith had requested a meeting with Chair Taylor and Ms. Bright regarding Heart of Boynton issues. Chair Taylor and Ms. Bright met with Senator Smith and responded to all of his questions. A review was made of the CRA's redevelopment efforts and history of the economic development program. Thereafter, pursuant to Senator Smith's request, Ms. Bright attended the Economic Development Stimulus Workshop and responded to all queries. It was the intent of CRA staff to ensure every citizen had the opportunity to receive the free monies offered by the CRA. XVI. Comments by CRA Board Attorney None XVII. Comments by CRA Board 13 Meeting Minutes Community Redevelopment Agencv Boare Boynton Beach, Florida August 11, 200~ Ms. Ross requested an explanation relating to the letter from James l. Obersta' Chairman of the Committee on Transportation and Infrastructure, advising that Florioc had fallen far behind other states in utilizing the Recovery Act highway formula funos Ms. Bright explained Governor Crist had been holding the Federal Stimulus funds However, she believed Eric Eichenberg, Chief of Staff aide to President Obamc personally telephoned the Governor requesting the funds be released. In response to the request of Ms. Ross, Ms. Brooks advised she had spoken with Dr Rose on August 10, 2009, and the non-profit community clinic would be occupying 5,800 square feet of space at Yachtsman's Cove. Chair Taylor noted September 9, 2009 would be the last CRA Board meeting to be held prior to the City's final budget hearing of September 29, 2008. The Board had not provided direction to Ms. Harris at the August 10, 2009 workshop as to the scenario to be utilized by the Board. Chair Taylor, therefore, suggested direction be provided to Ms. Harris at the September 8, 2009 CRA meeting. The Board concurred. XVII. Adjournment There being no further business to discuss, the meeting properly adjourned at 8:19 p.m. ~o'-- Stephanie D. Kahn Recording Secretary 081209 14 VI. CONSENT AGENDA: C. Approval of Period Ended August 31, 2009 Financial Report 1~~ctY~Te~ C Ii East Side-West S',de-Seas',de Rena',ssance eRA BOARD MEETING OF: September 8, 2009 I X I Consent Agenda I Old Bnsiness New Business Pnblic Hearing Otber SUBJECT: Monthly Financial Report SUMMARY: Monthly budget report to the eRA Board representing the revenues and expenses for the month ending August 31, 2009. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS: Approve August financials. Susan Harris Finance Director T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\9-B-09 Meetlng\Financfal Reportdoc 8-30-2009 12:11 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 01 - GENERAL FUND FINANCIAL SUMMARY ORIGINAL BUDGET MONTHLY ACTIVITY UNENCUMBERED BALANCE AMENDED BUDGET YEAR-TO DATE BALANCE TOTAL ENCUMBERED REVENUE SUMMARY T.I.F.INCOME MARINA RENT & GRANT INC MARKETING INCOME FESTIVALS & EVENT INCOME INVESTMENT INCOME MISCELLANEOUS OTHER FINANCING SOURCES 8,300,000 1,287,500 o 15,000 50,000 o 3,400,000 15,313.00) 378,065.84 2,475.00) 14,000.00 15,434.50 103.20) ---2I400,000.00 8,300,000 1,287,500 o 15,000 50,000 o 3,400,000 0.00 50,568.92 0.00 0.00 0.00 0.00 0.00 8,315,313.00 909,434.16 2,475.00 1,000.00 34,565.50 103.20 0.00 0.00 0.00 0.00 n 00 0.00 0.00 0.00 TOTAL REVENUES 13,052,500 3,789,609.14 13,052,500 50,568.92 9,262,890.86 0.00 EXPENDITURE SUMMARY % OF BUDGET REMAINING 0.18- 29.36 0.00 g].33 30.8"7 0.00 100.00 29.03 LEGISLATIVE 1G,900 17,900 2,243.20 8,663.3] 0.00 0,236.6"7 Sl, 60 ADMINISTRATIVE 211,942 211,942 10,201.42 J74,663.89 0.00 17,278.1~. 17 ,59 FINANCE 151,415 10;1,415 5,536.15 119,836.26 C.Oo 31,578.74 20.8F INSURANCES 115,470 115,470 2,030.00 66,047. 78 n ,00 49,422.2::' 42.80 PROFESSIONAL SERVICES 485,000 485,000 1,906.85 157,666 ,41 "",4.280. 15 273,053.44 56 ,30 PLANNING 209,880 209,880 ',621.90 l70,3CJ5 ,12 0 00 39,484.G8 18 .81 BUILDINGS & PROPERTY 496,210 496,21C 12,876.1P 230,971. 7' . ~ '" 0 no 260,748.24 52 5S MARINA ~, 287,500 ~., 287,500 49,021 .34 848,492 .44 C' ,00 '139,007.56 34 ,10 COMMUNICATIONS & TECHNOLO 62,120 62,120 1. 352 .47 4'>,4"70. 57 22:J. gg 16,419.44 26.43 CONTINGENCY 114,493 313,B3 0, 00 0.00 0 00 313,493.00 Ino.oo MARKETING 140,566 140,560 4,529.82 100,847.00 ,00 39.718.01 28 ,26 SPECIAL EVENTS 95,08"7 95,08"7 4,068.41 77,824.03 :1. no 17,262.97 18 .15 EMPLOYEE BEBEFITS 22"7,917 227,91"' 'J, 641. 31 150,098.04 G ,00 77,818,9(, 34 ,14 DEBT SERVICE ,,066.581 -,.066,581 0 00 ~ 789, ':'29 2R on :;7fl,851.72 0 0-' TRANSFER om ",,_171'-.4_19 .) 71,4~_: [\. or: 4, G28, 5~4 7C n.or J.,S42,_854.7= 20; ,on TOTAL EXPENDITUFES , 2 .051. son ,.,<=;-:' -""'- 11)4. 02.'1. u:: .569,2 11.. 15 =, ~ , IIIJn .14 ,424,228."1 26.2:3- ------- REVENUES OVER,. I UNDER) EXPENDIT~JRES 0 . .460 ~ f\ (, , !f::"' 4'~ ' _.'-, '10i~ 41 :; f, ~ .180 "; e, "1 8-30-2009 12' M 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 01-42118 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 01-48100 MISCELLANEOUS INCOME TOTAL MISCELLANEOUS OTHER FINANCING SOURCES 01-49100 OTHER FINANCING SOURCES TOTAL OTHER FINANCING SOURCES TOTAL REVENUES BOYNTON BEACH C- REVENUE & EXPENDITURES REPO INAUDITED) AS OF: AUGUST 31ST, _~09 ORIGINAL BUDGET 8,300,000 8,300,000 80,000 7,200 1,200,000 300 1,287,500 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 80,000.0 7,200.0 1,200,000.0 300.0 1,287,500 o o 15,000.0 15,000 50,000.0 50,000 o o 3,400,000.0 3,400,000 13,052,500 MONTHLY ACTIVITY 0.00 0.00 0.00 0.00 50,568.92 0.00 50,568.92 0,0 o 0.00 0.00 0.00 0.00 0.00 0.00 0,0 o 0.00 0.00 0.00 0.00 50,568.92 YEAR-TO-DATE BALANCE 8,315,313.00 8,315,313.00 92,858.01 5,400.00 810,103.27 1,072.88 909,434.16 2,475.00 2,475.00 1,000.00 1,000.00 34,565.50 34,565.50 103.20 103.20 0.00 0.00 9,262,890.86 P2 TOTAL ENCUMBERED 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 UNENCUMBERED BALANCE 15,313.00) 15,313.00) 12,858.011 1,800.00 389,896.73 772.88) 378,065.84 2,475.00) 2,475.00} 14,000.00 14,000.00 15,434.50 15,434.50 103.20) 103.20} 3,400,000.00 3,400,000.00 3,789,609.14 . OF BUDGET REMAINING 0.18- 0.18- 16.07- 25.00 32.49 257.63- 29.36 0.00 0.00 93.33 93.33 30.87 30.87 0.00 0.00 100.00 100.00 29.03 8-30-2009 12:11 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 J1 -GENERAL FUND LEGISLATIVE JEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING ?URCHASED/CONTRACT SERV 01-51010-200 CONTRACTUAL EXPENSE 7,500 " ,500 1,864.00 1,864.00 0.00 5,636.00 75.15 01-51010-203 MISCELLANEOUS 0 1,000 0.00 1,700.00 n.oo 700.00) 70.00 01-51010-216 ADVERTISING & PUBLIC NOTI 2,700 2,700 100.00 3,244.07 0.00 544.07) 20.15- 01-51010-225 ASSOC. MEETINGS & SEMINAR 2,500 2,500 279.20 1,078.6'7 0.00 1,421.33 56.85 01-51010-227 DELIVERY SERVICES 3,600 3,600 0.00 969.00 0.00 2,531.00 73.08 PURCHASED/CONTRACT SERV 16,300 1'7,300 2,243.20 8,855.74 --- TOTAL 0.00 8,444.26 48.R1 3UPPLIES 01-51010 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 2,243.20 R, 663.33 0.00 9,236.6'7 5} 60 "3 8-30-2009 12 M BOYNTON BEACH r REVENUE & EXPENDITURES REPO JNAUDlTEnl AS OF: AUGUST 31ST, ..v09 01 -GENERAL FUND ADMINISTRATIVE . 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 6,850.96 154,669.19 0.00 22,247.81 12.58 01-51230-115 CAR ALLOWANCE 5,400 5,400 208.00 4,576.00 0.00 824.00 15.26 TOTAL PERSONNEL SERVICES 182,317 182,317 7,058.96 159,245.19 0.00 23 f 071. 81 12.65 PURCHASED/CONTRACT SERV 01-51230-225 ASSOC. MEETINGS & SEMINAR 3,750 3,750 1,207.63 5,970.44 O.DO 2,220.44) 59.21- 01-51230-226 MEMBERSHIP DUES 6,675 6,675 1,745.00 1,597.44 0.00 5,077.56 76.07 01-51230-227 DELIVERY SERVICES 3,000 3,000 0.00 477.39 O.DO 2,522.61 84.09 TOTAL PURCHASED/CONTRACT SERV 13,425 13,425 2,952.63 8,045.27 0.00 5,379.73 40.07 SUPPLIES 01-51230-310 OFFICE SuPPLIES 8,500 8,500 64.64 1,249.39 0.00 7,250.61 85.30 01-51230-31S POSTAGE 2,000 2,000 125.19 1,331.63 0.00 668.37 33.42 01-51230-355 SUBSCRIPTIONS 200 200 0.00 0.00 0.00 200.00 100.00 01-51230-360 BOOKS & PUBLICATIONS 500 500 0.00 101. 72 0.00 398.28 79.66 TOTAL SUPPLIES 11,200 11,200 189.83 2,682.74 0.00 8,517.26 76.05 CAPITAL EXPENDITURES 01-51230-400 EQUIPMENT COSTS 5,000 5,000 0.00 4,690.69 0.00 309.31 6.19 TOTAL CAPITAL EXPENDITURES 5,000 5,000 0.00 4,690.69 0.00 309.31 6.19 DEPRECIATION & AMORT TOTAL ADMINISTRATIVE 211,942 211,942 10,201.42 174,663.89 0.00 37,278.11 17.59 P4 8 30-2009 12~11 PM )1 - GENERAL FIDID <'INANCE JEPARTMENTAL EXPENDITURES BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 ORIGINAL BUDGET % OF UNENCUMBERED BUDGET BALANCE REMAINING AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED ?ERSONNEL SERVICES 01-51325-100 PERSONNEL SERVICES TOTAL PERSONNEL SERVICES ?URCHASED/CONTRACT SERV 01-51325-200 CONTRACTUAL EXPENSE 01-51325-201 BANK FEES 01-51325-225 ASSOC. MEETINGS & SEMINAR 01-51325-226 MEMBERSHIP DUES 01-51325-227 DELIVERY COSTS 01-51325-229 CAREER DEVELOPMENT TOTAL PURCHASED/CONTRACT SERV mpPLIES 01-51325-310 OFFICE SUPPLIES 01-51325-360 BOOKS h PUBLICATIONS 01-51325 365 OFFICE PRINTING COSTS TOTAL SUPPLIES ~APITAL EXPENDITURES JEPRECIATION & AMORT TOTAL FINANCE 130,260 130,260 5,010.00 110,220.00 0.00 20,040.00 15.38 130,260 130,260 5,010.on 110,220.00 0.00 20.040.00 15.18 2,280 2,280 0.00 1,905.58 0.00 374.42 16.42 3,000 3,000 0.00 2,377.86 0.00 622.14 20.74 5,750 5,750 450.00 2,669.21 0.00 1,080.79 53.58 725 725 0.00 969.10 0 00 244.10) 33.67- 1,000 1,000 0.00 127.60 0.00 872.40 87.24 3,000 3,000 0.00 130.00 0.00 2,870.00 95.67 15,755 15,755 450.00 8,179.3-"; 0.00 " ,575.65 48.08 4,500 4,500 76.15 899.32 0.00 3,600.68 sn.02 500 500 0.00 537.59 C.OCl 37 59' "".5:2 400 400 0.00 0.00 D.on 400.00 :con.oo -~.- - ------- ------- ",400 5,400 76.15 1,436.91 0.00 3,963.09 73 .39 :.5J..415 "l,"i3f.15 .~ C . B t ],'>1,415 119,R36.2(; (1 00 31 . <:: 78 ...,,~ "5 8-30-2009 12 M BOYNTON BEACH c REVENUE & EXPENDITURES REPO JNAUDITED) AS OF: AUGUST 31ST, "",009 01 -GENERAL FUND INSURANCES . OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED 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 2,030.00 43,877.87 0.00 32,516.13 42.56 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 a,510 8,510 0.00 5,040.00 0.00 3,470.00 40.78 TOTAL PURCHASED/CONTRACT SERV 115,470 115,470 2,030.00 66,047.78 0.00 49,422.22 42.80 TOTAL INSURANCES 115,470 115,470 2,030.00 66,047.78 0.00 49,422.22 42.80 P6 8-30-2009 12:11 PM 01 -GENERAL FUND PROFESSIONAL SERVICES JEPARTMENTAL EXPENDITURES ?URCHASED/CONTRACT SERV 01-51420-200 CONTRACTUAL EXPENSE 01-51420-201 CONTRACT LEGAL 01-51420-204 CITY STAFF COSTS TOTAL PURCHASED/CONTRACT SERV TOTAL PROFESSIONAL SERVICES ORIGINAL BUDGET BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING 276,000 276,000 1,906.85 136,408.68 54,280.15 85,311.17 10.91 200,000 200,000 0.00 16,226.50 0.00 183,773.50 91.89 9,000 9,000 0.00 5,031.23 0.00 ~968.77 44.10 485,000 485,000 l,90fi.8"i 157,666.41 <;4,200.15 273,053.44 'i6.3Cl ~---_._--- 485,000 485,000 1,906 85 157,666.4: <;4,280.15 273,053.44 'i6. '30 07 8-30-2009 12: " BOYNTON BEACH r REVENUE & EXPENDITURES REPO~ ;NAUDITED ) AS OF: AUGUST 31ST, L009 01 -GENERAL FUND PLANNING . OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING PERSONNEL SERVICES 01-51440-100 PERSONNEL SERVICES 184,205 184,205 7,084.81 155,865.82 0.00 28,339.18 15.38 01-51440-115 CAR ALLOWANCE 5,400 5,400 208.00 4,576.00 0.00 824.00 15.26 TOTAL PERSONNEL SERVICES 189,605 189,605 7,292.81 160,441.82 0.00 29,163.18 15.38 PURCHASED I CONTRACT SERV 01-51440-225 ASSOC. MEETINGS & SEMINAR 11,000 11,000 26.45 5,441.57 0.00 5,558.43 50.53 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 0.00 351.46 0.00 648.54 64.85 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 26.45 7,067.03 0.00 8,257.97 53.89 SUPPLIES 01-51440-310 OFFICE SUPPLIES 3,500 3,500 199.64 1,328.71 0.00 2,171.29 62.04 01-51440-355 SUBSCRIPTIONS 150 150 0.00 0.00 0.00 150.00 100.00 01-51440-360 BOOKS & PUBLICATIONS 300 300 103.00 219.75 0.00 80.25 26.75 01-51440-365 OFFICE PRINTING COSTS 1,000 1,000 0.00 1,338.01 0.00 338.01) 33.80- TOTAL SUPPLIES 4,950 4,950 302.64 2,886.47 0.00 2,063.53 41. 69 CAPITAL EXPENDITURES DEPRECIATION & AMORT - TOTAL PLANNING 209,880 209,880 7,621.90 170,395.32 0.00 39,484.68 18.81 P8 8~30-2009 12:11 PM J 1 - GENERAL FUND 3UILDINGS & PROPERTY JEPARTMENTAL EXPENDITURES ORIGINAL BUDGET BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO DATE BALANCE TOTAL ENCUMBERED . OF UNENCUMBERED BUDGET BALANCE REMAINING ~URCHASED/CONTRACT SERV 01-51620-200 CONTRACTUAL EXPENSE 01-51620-201 PROPERTY TAXES 01-51620 205 RENTAL OF OFFICES 01-51620-206 MAINTENENCE & CLEANING 01-51620-208 EQUIPMENT LEASES 01-51620-209 PROPERTY MAINTENENCE COST 01-51620-224 SIGNAGE TOTAL PURCHASED/CONTRACT SERV 3UPPLIES 01-51620-325 ELECTRICITY COSTS 01-51620-326 WATER CHARGES TOTAL SUPPLIES :APITAL EXPENDITURES )EPRECIATION & AMORT TOTAL BUILDINGS & PROPERTY 2,700 160,000 50,760 12,880 25,000 216,370 10,000 477,710 12,500 6,000 18,500 49E,210 2,700 160,000 50,760 12,880 25,000 216,370 10,000 477,710 12,500 6,000 18,500 0.00 2,068.50 3,300.00 870.00 2,768.76 3,483.33 0.00 12,490.59 0.00 385.59 385.5g 2,133.99 71,474.75 40,694.90 8,713.62 19,912.67 76,786.80 1,900.00 221,616.73 .1,860.45 4,494.58 g, 355.03 49(,,21C' 23C, ')'72..""( 12,876.15 09 0.00 566.01 20.96 0.00 88,525.25 55.33 4,490.00 5,575.10 10.98 0.00 4,166.38 32.35 0.00 5,087.33 20.35 0.00 139,583.20 64.51 0.00 8,100.00 81.00 4,490.00 251,603.27 52.67 0.00 7,639.55 61.12 0.00 1,505.42 25.09 0.00 9,144.97 49.43 49n.CiO '250,740:.24 ',:;: 55 8-30-2009 12 'M BOYNTON BEACH REVENUE & EXPENDITURES REP( JNAUDlTED) AS OF: AUGUST 31ST, ",009 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 0.00 24,810.30 0.00 10,189.70 29.11 01-51630-241 MARINA FUEL MANAGEMENT 148,000 148,000 12,333.00 135,663.00 0.00 12,337.00 8.34 01-51630-242 MARINE FUEL STATION OVERH 50,000 50,000 4,411.81 35,138.06 0.00 14,861. 94 29.72 TOTAL PURCHASED/CONTRACT SERV 233,500 233,500 16,744.81 196,061.36 0.00 37,438.64 16.03 SUPPLIES 01-51630-325 ELECTRIC COSTS 20,000 20,000 0.00 11,455.04 0.00 8,544.96 42.72 01-51630-326 WATER COSTS 1,800 1,800 329.47 2,145.84 0.00 345.84) 19.21- 01-51630-327 GASOLINE & DEISEL FUEL PU 1,008,000 1,008,000 30,444.22 627,209.09 0.00 380,790.91 37.78 01-51630-328 MARINA DIESEL SALES TAX 19,200 19,200 1,502.84 11,621.11 0.00 7,578.89 39.47 TOTAL SUPPLIES 1,049,000 1,049,000 32,276.53 652,431.08 0.00 396,568.92 37.80 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 49,021.34 848,492.44 0.00 439,007.56 34.10 P10 8-30-2009 12:11 PM ) 1 GENERAL FUND :OMMUNICATIONS & TECHNOLO JEPARTMENTAL EXPENDITURES ~URCHASED / CONTRA.CT SERV 01-51650-200 CONTRACTUAL EXPENSE n1-51650 210 CITY IT SUPPORT 01-51650-212 FINANCIAL SOFTWARE HAINTE TOTAL PURCHASED/CONTRACT SERV mpPLIES 01-51650~330 TELEPHONE LINES 01-51650-340 CELLULAR PHONES TOTAL SUPPLIES :APITAL EXPENDITURES 01-51650-400 EQUIPMENT COSTS TOTAL CAPITAL EXPENDITURES TOTAL COMMUNICATIONS & TECHNOLO BOYNTON BEACH eRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE % OF UNENCUMBERED BUDGET BALANCE FEMAINING TOTAL ENCUMBERED 5,500 5,500 0.00 1,135 00 0.00 4,365.00 79.36 20,000 20,000 0.00 18,402.88 0.00 1,597.12 7.99 -~ 6,500 0.00 6,252.00 0.00 248.00 3.82 32,000 32,000 0.00 25,789.88 0.00 (,,210.12 19.41 12,200 12,200 777.29 10,126.36 0.00 2,073.64 17.00 7,920 -~ 549.18 6,821.16 229.99 868.85 10.97 20,120 20,120 1,326.47 16,947.52 229.99 2,942.49 14.62 10,000 10,000 26.00 2,733.17 0.00 7,266.83 72.67 10,000 10,000 26.00 2,733.17 0.00 7,266.83 72.67 -------- 62,120 62,120 l,352.4'" '15,470.57 229.99 11'),419 ,44 26.43 D 11 8-30-2009 12: ~ 01 -GENERAL FUND CONTINGENCY DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET BOYNTON BEACH ('- REVENUE & EXPENDITURES REPO: NAUDITED) AS OF: AUGUST 31ST, _v09 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 0.00 100.00 100.00 313,493.00 313,493.00 TOTAL CONTINGENCY 0.00 313,493.00 100.00 314,493 313,493 0.00 0.00 P12 8-30-2009 12:11 PM 01 -GENERAL FUND MARKETING DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING PERSONNEL SERVICES 01-57400-100 PERSONNEL SERVICES TOTAL PERSONNEL SERVICES PURCHASED/CONTRACT SERV 01-57400-200 CONTRACTUAL EXPENSE 01-57400-216 ADVERTISING & PUBLIC NOTI 01-57400-218 ANNUAL REPORT & BROCHURES 01-57400-225 ASSOC. MEETINGS & SEMINAP. 01-57400-226 MEMBERSHIP DUES 01-57400-227 DELIVERY SERVICES 01-57400-229 CAREER DEVELOPMENT 01-57400-236 PHOTOGRAPHY / VIDEOS TOTAL PURCHASED/CONTRACT SERV SUPPLIES 01-57400-310 OFFICE SUPPLIES 01-57400-355 SUBSCRIPTIONS 01-57400 360 BOOKS & PUBLICATIONS 01-57400-365 OFFICE PRINTING COSTS TOTAL SUPPLIES JEPRECIATION & AMORT TOTAL MARKETING "86,632 86,632 8,500 2,000 10,000 2,000 1,334 2,500 o 10,000 36,334 ",500 1,100 100 -3_,900 17,600 ::40,566 86,632 86,632 8,500 2,000 10,000 2,000 1,334 2,500 o 10,000 36,334 7,500 1,100 100 ~ 17,(:;00 140, S(:;r, 3,361.23 3,3Fi1.23 0.00 0.00 0.00 204.93 0.00 0.00 799.00 72.00 1,n75.93 92.66 0.00 0.00 0.00 92.66 ",,']29.82 75,090.91 75,090.91 0.00 2,R10.00 2,920.27 2,685.53 611. 50 279.37 3,994.00 7,814.82 21,115.49 J.,527.69 694 38 0.00 2,419.52 4.641.50 1:',0,8.1".99 013 0.00 11,541. 09 13.32 0.00 11,541.09 13.32 0.00 8,500.00 lon.oo 0.00 , 810 00) 40.50- 0.00 7,079.73 70.80 n.ao 685.53) 34.28 0.00 722.50 54.16 0.00 2,220.63 88.83 0.00 3,994.00} 0.00 0.00 2,185.18 21.85 a.on 15,218.51 4l.89 2.00 0.00 0.00 0.00 ------ n 00 5,972.31 4n5.62 100.00 ~480.48 l:?,'J"iR 4, "9 63 36.8'7 100.00 ,,,,,.81 "2.6::' :; nc 3~) . '71R . Q" ::'8 :::r, 8-30-2009 12. " BOYNTON BEACH C REVENUE & EXPENDITURES REPO iNAUDlTED) AS OF: AUGUST 31ST, ...v09 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 3,231.61 72,239.28 0.00 11,022.72 13 .24 TOTAL PERSONNEL SERVICES 83,262 83,262 3,231.61 72,239.28 0.00 11,022.72 13.24 PURCHASED / CONTRACT SERV 01-57500-225 ASSOC. MEETINGS & SEMINAR 2,500 2,500 772 .17 3,311.30 0.00 811.30) 32.45- 01-57500-226 MEMBERSHIP DUES 325 325 0.00 658.95 0.00 333.95) 102.75- TOTAL PURCHASED/CONTRACT SERV 2,825 2,825 772 .17 3,970.25 0.00 1,145.25) 40.54- SUPPLIES 01-57500~310 OFFICE SUPPLIES 3,500 3,500 64.63 1,268.16 0.00 2,231.84 63.77 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 64.63 1,364.50 0.00 2,635.50 65.89 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 4,068.41 77,824.03 0.00 17,262.97 18.15 P14 8-30-2009 12:11 PM BOYNTON BEACH eRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 01 -GENERAL FUND EMPLOYEE BEBEFITS DEPARTMENl'AL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING PERSONNEL SERVICES 01-59000-151 F.I.C.A. 43,345 43,345 1,593.17 36,035.84 0.00 7,309.16 16.86 01-59000 152 MEDICARE 9,830 9,830 372.60 8,888.46 0.00 941. 54 9.58 01-59000-153 RETIREMENT PLAN 401{a) 74,512 74,512 0.00 41,852.00 0.00 32,660.00 43.83 01-59000-154 WORKERS COMP INSURANCE G,356 6,356 0.00 2,312.54 0.00 4,043.46 63.62 01 59000 155 HEALTH INSURANCE 53,856 53,856 0.00 44,172.68 0.00 9,683.32 17.98 01-59000-156 DENTAL INSURANCE 3,698 3,698 281.78 2,893.01 0.00 804.99 21. 77 01-59000-157 LIFE INSURANCE 2,614 2,614 80.10 1,142.23 0.00 1,471.77 56.30 01-59000-158 SHORT I LONG TERM DISABIL 3,112 1,112 274.60 2,701.52 0.00 410.48 13 .19 01-59000-159 UNEMPLOYMENT CHARGES 5,000 5,000 0.00 1,970.72 0.00 3,029.28 60.59 01 59000 160 VISION INSURANCE 594 594 39.06 409.40 0.00 184.60 31. 08 01-59000-161 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 2,641.31 150,098.04 0.00 77,818.96 14.14 .-.--.---- ---~- -----.- TOTAL EMPLOYEE BEBEFITS 22"',917 227,917 2,641 3l 150,09R.04 0 00 "'""I,RIB % 34 .14 015 8-30-2009 12 'M BOYNTON BEACH r REVENUE & EXPENDlTUR.BS REPC JNAUDITED) AS OF: AUGUST 31ST, ...009 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 OTHER 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 8-30-2009 12:11 PM J1 -GENERAL FUND rRANSFER our JEPARTMENTAL EXPENDITURES ORIGINAL BUDGET BOYNTON BEACH eRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING JTHER FINANCING USES 01-59999-990 INTERFUND TRANSFERS OUT TOTAL OTHER FINANCING USES TOTAL TRANSFER our 6,171,419 6,171,419 6,171,419 ~171,419 6,171,419 6,171.419 0.00 4,628,564.25 0.00 1,542,854.75 25.00 0.00 4,628,554.25 0.00 1,542,854.75 25.00 ~-"-~--- ---.~_._--- 0.00 4,628,564.25 0.00 1,542,854.75 25.00 26.23 rOTAL EXPENDITURES ZEVENUES OVER,! (UNDER) EXPENDITURES 13,052,500 13,052,500 o 104,029.05 9,569,271.35 01 53,460.13) ( 306,380.49\ ( n17 59,000.14 59,000.14) 3,424,228.51 365,380.63 0.00 8-30-2009 12 M 02 - PROJECTS FUND FINANCIAL SUMMARY BOYNTON BEACH r REVENUE & EXPENDITURES REPO AS OF: AUGUST 31ST, lliATJDITED) ,,"v09 REVENUE SUMMARY ORIGINAL BUDGET AMENDED BUDGET MONTIfLY ACTIVITY TOTAL ENCUMBERED UNENCUMBERED BALANCE . OF BUDGET REMAINING FESTIVALS & EVENT INCOME INVESTMENT INCOME MISCELLANEOUS OTHER FINANCING SOURCES TOTAL REVENUES EXPENDITURE SUMMARY OPERATING EXPENSES CAPITAL OUTLAY AFFORDABLE HOUSING ECONOMIC DEVELOPMENT PROJECTS AND PROGRAMS TOTAL EXPENDITURES REVENUES OVER/ (UNDER) EXPENDITURES YEAR-TO-DATE BALl\NCE 0 0 0.00 12,065.79 0.00 12,065.79) 0.00 0 0 0.00 7,213.91 0.00 7,213.91) 0.00 300,000 300,000 0.00 2,250.00 0.00 297,750.00 99.25 6,671,419 6,671,419 0.00 4,628,564.25 0.00 2,042,854.75 30.62 6,971,419 6,971,419 0.00 4,650,093.95 0.00 2,321,325.05 33.30 ------------ ------------ -------.------ ------------- ",,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,-,,, ------------- ------- ------------ ---~-------- ------- ----- ------------- ------------- ------- 465,000 465,000 1,805.03 47,189.47 57,304.46 360,506.07 77.53 4,091,279 4,091,279 50,648.25 170,830.28 605,700.82 3,314,747.90 81. 02 860,000 860,000 0.00 310,202.44 48,615.00 501,182.56 58.28 809,795 809,795 38,780.00 649,982.55 26,347.50 133,464.95 16.48 745,345 745,345 3,704.22 529,120.28 0.00 216,224.72 29.01 6,971,419 6,971,419 94,937.50 1,707,325.02 737,967.78 4,526,126.20 64.92 ------------ ------------ "'==<====""===""= ------------- "''''''''''=''''''-'''=''''''= ------------- ,,"'==="'''' ------------ ------------ ------------- ------- ----- 0 0 94,937.50) 2,942,768.93 737,967.78) ( 2,204,801.15) 0.00 P18 8-30~2009 12:11 PM 02 -PROJECTS FUND REVENUES ORIGINAL BUDGET BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO~DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING FESTIVALS & EVENT INCOME 02-44100 FESTIVAL & EVENT INCOME TOTAL FESTIVALS & EVENT INCOME INVESTMENT INCOME 02-46100 INTEREST INCOME TOTAL INVESTMENT INCOME VJrSCELLANEOUS 02-48100 MISCELLANEOUS INCOME TOTAL MISCELLANEOUS JTHER FINANCING SOURCES 02-49100 OTHER FINANCING SOURCES 02 49900 TRANSFERS IN TOTAL OTHER FINANCING SOURCES rOTAL REVENUES 300,000 300,000 soo,oao __~ 171, 419 6,671,419 6,971,419 o o o o 300,000.0 300,000 500,000.0 h,171,419 () 6,671,419 6,971. 419 0,0 o 0.0 o 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ~---~ 0.00 0.00 ~~2,06S.79 0.00 12,065.79) 0.00 12,065.79 ---------- i'2; 065.79) n.oO 0.00 7,213.91 0.00 7,213.911 0.00 7,213.91 0.00 7,213.91} .~ 0.00 2,250.00 0 ,00 297,750.00 99.25 2,2S0.0n 0 00 297,750.00 99.25 0.00 4,628,564.25 4,628,564.25 4,650,093.gS D19 0.00 0.00 1).00 SOo,ooo.ao 1,542,854.75 2,042,R547S 100.00 25.00 30.62 o 00 2,121,32<;.0<; 33.3n 8-30-2009 12, 'M BOYNTON BEACH r' RE:VENUE & EXPENDITURES REPO JNAUDITED} AS OF: AUGUST 31ST, 009 02 - PROJECTS FUND OPERATING EXPENSES % OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING PURCHASED/CONTRACT SERV 02-58100-202 CONTINGENCY EXPENSB 90,000 90,000 0.00 0.00 0.00 90,000.00 100.00 02-58100-203 CONTRACTUAL EXPENSE 300,000 300,000 1,179.88 39,437.72 57,304.46 203.257.82 67.75 02-58100-213 LEGAL FEES 75,000 75,000 625.15 7,751. 75 0.00 67,248.25 89.66 TOTAL PURCHASED/CONTRACT SERV 465,000 465,000 1,805.03 47,189.47 57,304.46 360,506.07 77.53 TOTAL OPERATING EXPENSES 465,000 465,000 1,805.03 47,189.47 57,304.46 360,506.07 77.53 P20 8-30-2009 12:11 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 J2 -PROJECTS FUND :'APITAL OUTLAY JEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO DATE BALANCE TOTAL ENCUMBERED . OF UNENCt~BERED BUDGET BALANCE REMAINING :APITAL EXPENDITURES 02-58200-400 LAND 650,000 fiSO,Don 0.00 0.00 0.00 650,000.00 100.00 02 58200-404 CONSTRUCTION IN PROGRESS 2, 000,000 2,000,000 47,948.2'1 147,210.28 '058,400.82 1.294,388.90 64. "72 02-58200-405 SITE WORK AND DEMOLITION 75,000 75,000 0.00 7,720.00 0.00 67,280.00 89.71 02-58200-406 INFRASTRUCTURE AND STREET 1,366,279 1,366,279 2,700.00 15,900.00 47,300.00 1,303,079.00 95.37 TOTAL CAPITAL EXPENDITURES 4,091,279 4,091,270 50,648 25 170,830.28 605,700.82 3,314,747.90 81.02 TOTAL CAPITAL OUTLAY 4,091,279 4,091. 279 50,648.25 1.70,830.28 605,7nn.82 3,314,747.90 81.02 I'"I?1 8-30-2009 12: BOYNTON BEACH C REVENUE & EXPENDITURES REPOl NAUDITED} AS OF: AUGUST 31ST, ..:.1.109 02 -PROJECTS FUND AFFORDABLE HOUSING . OF ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUOOET DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING CAPITAL EXPENDITURES 02-58300-420 RESIDENTIAL IMPROVEMENT P 160,000 160,000 0.00 11,580.00 48,615.00 99,805.00 62.38 02-58300-421 HOME BUYERS ASSISTANCE PR 300,000 300,000 0.00 217,272.31 0.00 82,727.69 27.58 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 0.00 310,202.44 48,615.00 501,182.56 58.28 TOTAL AFFORDABLE HOUSING 860,000 860,000 0.00 310,202.44 48,615.00 501,182.56 58.28 P22 8-30-2009 12:11 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 02 -PROJECTS FUND ECONOMIC DEVELOPMENT DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED % OF UNENCUMBERED BUDGET BALANCE REMAINING CAPITAL EXPENDITURES 02-58400-440 FACADE GRANTS-COMMERCIAL 75,000 75,000 0.00 27,989.29 26,347.50 20,663.21 27.55 02-58400-442 TRANSPORTATION PROGRAM 734,795 734,795 38,780.00 621,993.26 0.00 _112,801.74 15.35 TOTAL CAPITAL EXPENDITURES 809,795 809,795 38,780.00 649,982.55 26,347.50 133,464.95 16.48 -_..~ TOTAL ECONOMIC DEVELOPMENT 809,795 809,795 38,780.00 649,982.55 2fJ,347.50 133,464.95 16 48 n?3 8-30-2009 12 'M BOYNTON BEACH r REVENUE & EXPENDITURES REP( AS OF: AUGUST 31ST, JNAUDITED) ~J09 02 -PROJECTS FUND PROJECTS AND PROGRAMS DEPARTMENTAL EXPENDITURES ORIGINAL BUDGBT 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 0.00 377,857.67 0.00 97,487.33 20.51 02-58500-480 COMMUNITY SPECIAL EVENTS 270,000 270,000 3,704.22 151,262.61 0.00 118,737.39 43.98 TOTAL CAPITAL EXPENDITURES 745.345 745,345 3,704.22 529,120.28 0.00 216,224.72 29.01 TOTAL PROJECTS AND PROGRAMS 745,345 745,345 3,704.22 529,120.28 0.00 216,224.72 29.01 P24 8-30-2009 12:11 PM 02 -PROJECTS FUND TRANSFER OUT - ASSET TRA DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET BOYNTON BEACH eRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: AUGUST 31ST, 2009 AMENDED BUDGET OTHER FINANCING USES TOTAL EXPENDITURES REVENUES OVER/(UNDER) EXPENDITURES 6,971,419 1'>,971,41':1 o MONTHLY ACTIVITY YEAR - TO - DATE BALllliCE 94, 9J7. 50 1,707,32<;.n2 o 94,q~I.50\ 2,942,76R.93 i "25 TOTAL ENCUMBERED 71C:>,967.C:>P UNENCUMBBRED BALANCE 4,526,126.20 % OF BUDGET REMAINING 6-4.92 73/,967.78) ( 2,204,801.15) 0.00 VI. CONSENT AGENDA: D. Monthly Procurement Purchase Orders NONE VI. CONSENT AGENDA: E. Approval of Commercial Fa~ade Grant to Burchar, LLC located at 403 NE 6th Avenue 1!I~<tY~T8~ eRA . East Side-West Side-Seaside RenaIssance eRA BOARD MEETING OF: September8,2009 I x I Consent Agenda I Old Business New Business Pu bUe Hearing Other SUBJECT: Approve the Commercial Facade Improvement Grant application for up to $15,000 to Burchar, LLC for program eligible items at the property located at 403 NE 6th Avenue. SUMMARY: Burchar, LLC, owner of the property located at 403 NE 6th Avenue has submitted an application to the CRA's Commercial Facade Improvement Grant Program. Eligible items under grant program guidelines include exterior painting and structural repairs, awnings, signage, lighting, paveing and landscaping. The applicant is proposing a scope of work that includes exterior structural repair and painting as well as paving/parking lot improvements. The Commercial Fayade Improvement program reimburses 50% of the applicant's expenditures for the eligible improvements up to a maximum grant total of $15,000.00. Any unused grant funds will be released back into the program. FISCAL IMP ACT: Up to $15,000.00 from project fund line item: 02-58400-440. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Federal Highway Plan RECOMMENDATIONS: Approve the Commercial Facade Improvement Grant application for up to $15,000.00 to Burchar, LLC for program eligible items at the property located at 403 NE 6th Avenue. ,/~~A~' Michael Simon Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHl- Y REPORTS\COmpleted Agenda Item Request Forms by Meeting\FY 2008.2009 Board Meetings\9-6-0S Meeting\Comm Facade Grant- Elurchar LLC.doc 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 pian 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 1 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. ~M" / 0.Jdc1_ ttness <6'112./01 (Date) . dJ~~ Pr perty Owner g)2)(/) 9 (Date) (Property owner's signature must be notarized) TenantlBusiness Owner (Date) Witness (Date) CRA Director (Date) STATE OF FLORIDA, COUNTY OF PALM BEACH , August] I, 2009 Boynton Beach Community Redevelopment Agency Commercial Facade Improvement Grant Program (2009) Property Owner Burt Epstein 188 Las Brisas Circle Hypoluxo, Fl 33462 Burchar LLC Property Location 403 NE 6th Avenue Boynton Brach, F133435 Scope of work: New stucco and trim bands on South side (6th Avenue) and West side (3rd Street) plus 40 feet on the North side. (per attached charts). Building will be painted Desert Plain (ECC-21-1) and trip will be Palisade (ECC-21-2), City of Boynton Beach has approved these colors, Currently working with paving companies to see if I can re-pave property, may inquire about re-sealing and re-striping. Possibly looking to see if doors can be updated, ~r01:;-- ,..- . '" ~ " : , . ' ~ ,., .~. . 1)eGre ~ID4 "6e(?o('e- 'lS'1 D9 VI. CONSENT AGENDA: F. Approval of Entering into a Mortgage and Note with Woman's Circle in the Amount of $100,000.00 /' ;-.. ~~~<tY~Te~ eRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: September8,2009 I x I Consent Agenda I I Old Bnsiness New Business Legal Other SUBJECT: Approval of Entering into a Mortgage and Note with Women's Circle in the amount of$IOO,OOO SUMMARY: At the August II, 2009, the Board directed the Women's circle to obtain an appraisal of the property to ensure that there is sufficient equity in the property to secure the CRA' s mortgage and note. The Women's Circle obtained an appraisal of912 SE 4th Street. The value is determined to be $102,500 (See attached appraisal). The purchase price is $169,000. FISCAL IMPACT: $100,000 encumbered from FY 2006-2007 Rollover Funds, line item 02-58500-470. CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS/OPTIONS: 1, Approve fun 'ng and entering into a mortgage and note secured on 912 SE 4th Street. Do not appr e the funding, Viv ,rooks Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 ' 2009 Board Meetings\9-8-09 Meeting\Women's circle #2.doc 1"1eeting Minutes Community Redevelopment Agency Boare Boynton Beach, Florida August 11, 2009 Keturah Joseph, Boynton Beach CDC, felt the Board should take advantage of the opportunity to take possession of the property and nd the community of the illicit activities occurring in the Heart of Boyntor, Sgt. Joseph DeGiulio, Boynton Beach Police Department CRA Policing Unit, indicated the area in question was riddled with crime, facilitated drug activity and impeded the ability of the police to identify "sellers" and "users.' The buildings had not been maintained, represented safety issues and were occupied by vagrants and squatters. Ms. Ross and Mr. Weiland felt the Board should negotiate further with Mr. Brandom. Mark Karageorge, 240A Main Boulevard, noted foreclosure measures were implemented to motivate the property owner to sell so that the neighborhood could be cleaned up. Crime and quality-of-Iife issues were the chief priority of the citizens committee. Chair Taylor could not believe the Board would pass up the opportunity to clean up a crime-infested area in order to save $20,000. Herb Suss, 1711 Wood Fern Drive, agreed a message should be sent to the Heart of Boynton and the area should be cleaned up. The substitute motion to offer $90,000 plus closing costs passed 3-2 (Chair Tay/or and Vice Chair Ha' . E. Women's Circle - 1. Consideration of funding Women's Circle $100,000 for purchase of facility 2. Consideration of entering into a mortgage and note with the Women's Circle in the amount of $100,000 Item E was addressed directly before Item A. under New Business. Sister Lorraine Ryan explained the Women's Circle was requesting funding in the amount of $100,000 for the purChase of the building. She provided an informational packet that included the Women's Circle's mission statement, a photograph of the property and an explanation of the property's intended use. It would be the responsibility of the Women's Circle to bring the property up to Code. Applications would be made for a parking variance and permits for the necessary modifications. While the Women's Circle preferred the funding be made in the form of a grant, Sister Lorraine understood it was the desire of the CRA that funding be provided in the form 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 of an interest-free loan. The Women's Circle had reviewed a draft of the loan agreement and was in agreement with its terms. In view of the Women's Circle's ongoing services to the community, Sister Lorraine requested the agreement contain a stipulation specifying that if after 10 years a larger facility were needed within the CRA district, the building located at 912-914 SE 4th Street could be sold, and reimbursement of the $100,000 to the CRA would be waived. The Board would not address this request. Chair Taylor explained the Board had previously approved funding the Community Caring Center in the amount of $200,000 to assist the Center in the purchase of a larger facility. The Community Caring Center shared space with the Women's Circle and has requested half of the funding, $100,000, be provided to the Women's Circle to purchase the facility. The Women's Circle was currently operating in 620 square feet of space, and the larger facility would double the square footage. Sister Lorraine noted the property to be purchased was not located in the Heart of Boynton. However, most of the clients would be able to walk to the facility, which was within the CRA district. Motion Mr. Weiland moved to approve funding the Women's Circle in the amount of $100,000. Vice Chair Hay seconded the motion. Mr. Rodriguez inquired whether an appraisal of the property would be obtained. He believed this was necessary to secure the equity to the CRA as the lien holder. Ms. Bright articulated the opportunity had been presented to staff by the Women's Circle and as staff had not been involved, there had been no need to secure an appraisal. In addi . . ue of an appraisal had never been addressed by legal counsel. , Substitute Motion Mr. Rodriguez moved that the Board approve the funding to the Women's Circle for the purchase of the facility, with the contingency that staff be provided with an appraisal for at least $100,000. Ms. Ross seconded the motion. Sister Lorraine was not certain an appraisal had been obtained. She noted the Women's Circle would not be seeking a loan for the $169,000 needed for the required property improvements. Vice Chair Hay felt it would be unfair at this time for the CRA to bear the expense of the appraisal and felt Legal should have realized this earlier. Mr. Rodriguez expressed discomfort in approving the request without securing the taxpayers' equity in the property. He believed the Women's Circle should be responsible for the cost of the appraisal. The substitute motion passed unanimously. 10- Meeting Minute: Community Redevelopment Agency Board Boynton Beach, Flonda August H, 2009 ---_.--._,..,~'~'----- Motion Ms. Ross moved to enter into a mortgage and note with the Women's Circle in the amount of $100,000, with the contingency that the appraisal come In at $100,000 or higher. Vice Chair Hay seconded the motion that passed unanimousi\ Chair Taylor clarified the Women's Circle would be providing the appraisal. Upon submission to the CRA of the appraisal reflecting the property's worth to be at least $100,000, the funding would be available ' . F. Consideration of Trolley Service Contract Renewal Susan Harris, Finance Director, advised if the Board did not take any action by August 15, 2009, the contract would renew for a three-year period at hourly rates to be negotiated with the contractor. Over the last few years, the CRA had made a number of modifications to the contract and Molley's Trolley had always been more than willing to work with the CRA. As a result of the severe economic decline, Molley's Trolley has offered a substitute contract which would include a change in the term from three years to three one-year terms, with an option to terminate annually. The notice period had previously been changed to 45 days, and the vendor would accept this provision under a new contract. The cancel percentage would be adjusted to 28.5% (120 hours), which would benefit the CRA. The adjustment would also include a change from four to seven major holidays. The vendor was also requesting a gas escalation clause and a maintenance buyout. If the contract were to be cancelled during the three-year period, the CRA would be obligated to reimburse the vendor in the amount of $20,000 for maintenance performed. Option 3 calls for the renewal of the current contract or a new contract with the southern routes added for an additional cost. Option 4 called for the renewal of the current contract or a new contract, with the elimination of Saturdays, for a savings of $67,000. Chair Taylor favored Option 4 providing for the new contract as described by Ms. Harris. The contract would provide service for the north route only and would eliminate Saturdays. Mr. Weiland preferred a version of Option 4, with the elimination of one day, saving $67,000, and adding $45,000 for Option 3, with the addition of two days and the southern route. 11 GLEN DAKE GLEN DAKE APPRAISALS FIle NO. JD-8-10-0S 0:. (' APPRAISAL OF r LOCATED AT: 912 5E 4TH 5T BOYNTON BEACH, FL 33435-5606 FOR: NfA BORROWER: NfA ASOF: August 16, 2009 BY: GLEN DAKE (' 16095 130TH WAY NORTH, JUPITER, FL 33476 Glf=N DAKE ;lEN DAKF APPRAISAL', H",I[J.h-III'J NIA File Number: JO-8 1U-1X' In accordance with your request, I have appraised the real properlY at 012SE4Tf-t $1 BOYNTON BE:AClf, Ft :n43<;i-"i60C Ttle purpose of this appraisal IS 10 develop an opiniofl 01 HIe market value of the subject pronerty, as improvecl The property rights appraised arr the tel~ simple interest In the ~;irp (jrlO improvements fn my opinion, (he marker value of the prOfJelll' a~ nl l\U,ilN 18 . '[Il ::,1U:C,5ot1 One. Hunrlrpd Tw() Thu\.JSiln<11"...e Hundrerl D dl;Jr~ The attached report contains the description, analysl~ and supportive data lor the conclusions final opinion of value, rJe<;uipiivp. ptwtnpropfls lilTlitiTlII':C1nrll1!tlll~ ,'lncl appropriate certrficati0ns A~/OJ GLEN DAKE 16095130TH WAY NORTH JlfPfTER FtB4'?R The purpose oltnls summary appraisal report is to provide tne lenderlclienlwitn an accurate, and adequatelysupporled. oplfllon 01 tne market value 01 the subject property. Pronerlv Address 912 SE 4TH ST Cilv BOYNTON BEACI-' StateFL ZID Code 33435-5606 BmI~INI,c. Oovner olPublic Record MICHAEL GALLAGHER & LORRAINE GREFE CounT\l PALM BEACH LeaaIDestrmtlon28-45-43 S 59.26 FT OF N 77012 FT OF WLY 125.42 FT OF E 4102 FT OF NE 1/4 OF SE 1I~ Assessor's Parcell< 08-43-45.28-00-000,5050 1a~ Yeal ZOGe R.t:,1a~es$ 3,39000 Neiohborhood Name BOYNTON BEACH ManRe1erence43-452c Census1ract 0062,02 ClccuMnt I IOwner Ix Tenanl Ivacant SDecial Asooss~nls $ NONE KNOWN T jpuD HOM n-~;;""arn~etmoll!.h .. PlOoertv Rlohts Aopralsed j X Fel'Slm Ie lLl'aoohold I lather describe AsslonmentTvoe Ix I Purchase Transaction IRelinanceTtansaction I 100herldescribel LenderlClientN/h Adllfl!ss Is Ihe sub ecl orooellv currentlv offered for sale or hasil been offer ed 101 sale m the twelvemonths nor 10 the effective dale of tnl5 annralsal? X Yes NO Reporloarnsource(slused.otteringprice{s),anddate{s) PUBLIC RECORDSIMLS SUBJECT WAS LISTED ON 09/0512008 FOR $250,000, CURRENT LIST PRICE IS $169 000 THE LISTING JS CURRENTLY CONTINGENT I lli.]dld Udid not anatyze the con~actlor sale lor tile subject purchase transaction, Explain tile results oJ the analysis of thp contract lor sale or why the analysis was not performed APPRAISER WAS SUPPLIED WITH AND ANAL Y2ED e PAGES OF THE SALES CONTRACT Contract PIICl' $ 169,000 DatecfContracf 4/28/2009 Islhen[QMrlvsel~ltM.QINne((l(nl,i;}I,ic\eC{)I\l? GJ'Ies INo Dala SOUTCPlS\ PUBUC RECORDS . ISlhereMvhnanClal asslStance(loan charges, sale concessions, gillordownpaymentassistance, etc,) to be paid by any partVon bphalfol tl1eborrower~ DYl's~No IIYes,reportthewtaldollaramounlanddescribetheilemstobf'paid Notll: RllC8 and the racial comn0611l.ol\ nftlle II08",lIbolnoOO ._08 "01 .MITIoiMllactolS. NDighbomood ChllliltcmlllClc, 2.4UnltHou,tn\lT",ods Ut.ltlItHoul1nil Pr..entLl.ndu.... Location Urban IX Suburban j IRural pronellVValues I Increasinn IXISlable I IOl'clininn PRICE AGE One-vnil 95% Buill.U' IX OVer 75% I 25-750fi, r-1Under 25% DemandlSunnlv I IStlOllanf' Ix In8alance IDverSunnlv $(000\ I~' 2.4 Unit % Growth RaDid IX Stable nSlow MarketinnTiml' f IUndeT3mlhs /XIHmths I lOver 6 mlhs 15 low 7 Multi.Familv % . wei\l\\oollloodBcum~alleS lOCATED: N, OF WOOLBRIGHT RO S, OF BOYNTON BEACH BLVD, E, OF 1- 380 Hinh 59 Commercial . 95 W. OF OCEAN BLVD. e5Pred 50 Other lAND 5% . Neighborhood Qescription SUBJECTS DEVELOPMENT CONSISTS Of A.TTACHED AND DETACHED SINGLE FAMILY OWE-lUNGS TYPICAllY MAINTAINED IN AVERAGE CONDITION Market Conditions (Including suppoTtlor the above conclusions) See Attached Addendum Dimensions NO SURVEY PROVIOED TO APPRAISER Area 5760 +1- sa FT Sha~e RECTANGLE view RESIDENTIAL SllecIficZonilYlClassi!ication C3 Zonina Descriotion COMMERCIAl- Ztm\nnCOITlD\ianee Xlleoal \ lenalNonconlorminn IGrandlathered Use INoZonino IIJeoalldescribe\ Is the highest and best use oflhe subjeclproperty as improved (or as prop osedper plans and specmcatlOns)tI1e preSl'nl use? l!0V"UNo IINo,desuibe Ulllllles public Otber/descrlbe' Public Olherrdesc/lbe Off_slletmnrovements--Tvne Public Privet. Electricrtv xl Water IXI Street ASPHALT Xl I-I G" I I NONE San~arv Sewer !Xl AIle" NONE , ,I FEMASDei:lalFIoOdHazaldArea / IYes IX/NO FEMAFfoodZone C FEMAMa # 120196 0003C FEMA ManDate 09/3011982 Ate the uWlti.esand ofI-~ mO'Jements MIir.lllfullhe malke\ alea? X\'Ies \ INo llNo,desClltrl'. Are lherl' any adverse sne c(:md~ions or external factOIS (easements, encroachments, environmental condltlons,land uses, etc,)? UYes lKJNo II Yes, describl'. APPRAISAL IS SUBJECT TO A CURRENT SURVEY FOR DIMENSIONS OF SITE/EASEMENTS ErC THERE ARE NO APPARENT AOVERSE. E,o..SEMENl"S ENCROACHMENTS OR OTHER APPARENT ADVERSE CONDITIONS GEN LD!; ION FOUNOATION EXTERIOR DESCRIPTION m ,_... IJrriIs IxlTwo I IT\1lee I IFour X ConcreteSlab I CrawlSnace FoundalionWal1s CONCRETE/AVG Floors TILEM'QOD/AVG IAccessorvUnit(describebelowl Full Basement Partial Basement EKleriorWalls CBS/AVG Walls DRYWALUAVG II of Slories1 lIolbldos.1 B~mentAi'ea Q S(l,t R.ooIS\lllace COMP SHNGUAVG TrimlFintsh WOOD/AVG TVDe J IOel. fX/AIl S.Det.lEndUnil BasemenlFlnlsh O. Gullers & Oownsoouts NONE Bath Floor TJLE/AVG XfExislino !ProDosed IUnde/const. Outside EnllVlExit I SUmOPUrIlD WindowTVDtl JAELSY/AVG Battt Walllstot T1LEfA.VG Oeslnn SlVII!\ 1 STORY Evidence of I Infestation StormSashllnsulalett NO oar8'lOqge YearBuiH 1955 Damnness Seltlemenl Screens NO X None EIfect.(~A.nelYls\20 l-I...llnlllCoollnll Amenlll.. Dlivewav #olCars AlIic None X FWA InHWBB 1I-1Radiant Firenlace/s\# ,- WoodStov"'slll Orivewa"Surlace lOrooStair Stairs Other I Fuel ELECT Patio!OI!ck rx Fente FUll.. Galllne # of Cats IRoor X Scuttle X CentralMConditionina Pool I X Porch ENTRY Co< rt #o/Cars IFlnished Heated Individual I! fOlher Other All. IDet. Buik-in #otAnnllances Rel(lilerator 2 RanneJOwn 2 IOishwasher o lOisoosaJ 0 Microwave o IWasher/Orlli'r 1 /Olherldescflbe\ . Unit#lcontains: 3 Rooms 1 Bedroom/s1 1 Bathls1 575 SnuareleetotGrossLivinnArea Un~# 2 contams. 3 ROQtIIS l~lnnm(s' 1 Balhls\ 5755nuareleetolGlossLivinnAtea Un~# 3 contains: Rooms Bedroom's1 Bath'sl SnuareleetolGrossLivinnArea Unit# 4 contains: Rooms Bedroo , 8ath'sl SnuareleetofGrossUvinnAtea Addilionalleaturl's{specialenergyelficll'ntltems, etc.} NONE NOTED Describe the cond~ion olthepropelty{includinll needed repairs, deterioration, renova~ons, remodeling, etc,) SUBJECT HAS BEEN WELL MAINTAINED AND APPEARS TO BE IN AVERAGE CONDITION SUBJECT HAS A 12X14 STORAGEJUTlUTY BUILDING IN THE BACKYARD THIS BUILDING DOES NOT CONTRIBUTE TO VALUE FOR THiS SUMMARY APPRAISAL SUBJECT HAS BEEN UPGRADED WITH A NEWER ROOF AND TILE FLOORS. , IeMacFormllMllcfl200s P"""",""';r>;rJICI.-",.8002'14,6117""""',,"",Cllm F8/JI1e r.l., Forml02S Uarc~2005 SUMMARY Small Residential Income Property Appraisal Report Pageloll File No_ JD--8-10-09 1025_05Qll.'006 Small ResidentIal Income Property Appraisal Report '1IH~u Jlk: 1~,:)9 Ale IIlcre <IllY phY~lcaldpliciprwip.~o! ~dvPrse COllrlitinn, tnJt Mtl'Clrh~ W.".,I....'1f .II,JI','" "'II,,'lIlld: dli"n.'I" ,t iii' t""f'"':''' I Ivpc I ~JNO II y~~, (Ip.scrlb~ NO R:EADll'r OBSERVABLE PHYSICAL, FUNC110NAL OR EXTERNAt ItH,UE.I)Ut,CIE:~~-,~:;l .t:.!1I: i ION QUALITY IS TYPICAL FOR THE AREA THIS REPORT IS N.Q~ TO BE.CONST_RUED A~J:!~)!\,tF.l3f~:,~IR_I~~t:'~.l!_(l~, A!..j_ltiS.EEI"TJ(-!!J.S:CJtI,r1.!:'~!::./Y_~HOU~J! BEs...qNTACTED F()R..?.0'~ A REPORT Doe~ thr rrnpdtl genpr'llly conlnrlll 10 th~ ~ellll1b~lh,'nrf Illlnq" ",.,; I " ~. :1',J;-,,jP,,:lih,' ISllw propl'rt\' c,:rbl~C!t'-, Ii.'nt r{lntl"l~ -'oY~, ~o II, The f~ll"win!) properties repJesent the Illn~\ rWlrnt, c,inril;;r Jrnl rr''''''];'' marl:etlent lo! the subect ro ~! "'" 11:'1I'.'.II',"',rl' rill',J'Iill\,si"GIr>t,'ndl>d/t ~urparlllli'nl.'mi",'.''!tti", Unlt~ 1 Unrtl12 Unil113 Unit#4 Uli/i{i€slncllide~ CARPORl _-+3 3 Rm(;oullI Tol SJ Sa 1 1 ~: 1:"1' r,"'1','rrlll'" 0'11,(1_ 11:)41- it '1';:: S ,,2;,'" ~rJ1L\:l~1Jl3L1C ~<E I !,NNIIAt l :.,IIBIJRl-lANi^Vli -1". ..~ i'.,''::1. YEA~"~ ~,.RAGr::._ ; lye" SQ f r r-~-- ----I f-:',llI t "nlUJU~ I ,1'T~J[T,,:~,"i, Bcr-r fjekl : ' ; 1 , ~ t 1 1 1 I' --I .----j j L_l I r~ONf: KNO\l'lfli 1--. --" 1_:.0.i:<!:OR_l_ (1R!}S 1 - COMPARABU: RENTAL NO j ! fi15 NE 7TH AVE ~ BOYNTI)N 8E!~CH IO.9~mlles N _ .__~Q.U $ ()'j1~tt . t __QG8~.rL.I ---- Ye~ -=:W:;;:~._ ~I.;.S/PUB~IC R~f..()RP? ANNUAL _ SUBURBAN/Ave.; 38 YEARS _'!POOR "u '" J 1396SQ f-T ',"''''''R'',,'' 1"~~r'"~~0"~1 ~1rt",,,,,tIiIYR,,,,, ti0'J I ~-t2. _~j_ _ 6gB t__ %0 -.- t t- 'Ii ;- ~_"LL_.l ..1 'i_NON~JS.NOWt'J_ . NON~ ~~ _.~l~_ ~!..I@{Eq_ 912SE4TII ST Addr~,;, BUYf'!TON BEAU-I proximi IOSUbW\t. Currenl Month[ R~Jll RenUGrossBld Art'a_ RenlCflntrol. DillaSoUlI: S cn\lp"r;.i{U,L 431SW,lili lll,!'f~TUN h! 07Grf;lle, ~_""\'IPAR~':!f f'EN!~ r-J(.J..' ~TH i ,W ,Hi :n, 1 ()~, Rf ,\I :11 111''''''\-'''/ Dale of Lease "l Localion AclualAe Conditio~ GroS8Buiklln "rl.'d (< OOOs ft X No JNSPECT10NIPUB REC ANNUAL SUBURBAN/AVli 54 YEARS _ AVERAGE 1150S0.FT Yes MLS/PUB~IC I~(:\-,.t \~< i', ~NNUAl SUBUR8~t" 50 YEAR~; AVERAGf _, 1 1962 SO fl --s;;;- .P;;;C~~;lt- _j' S~JrlBr Dn 570'1" , - , 575 t -l- LJ _ NONE: Y:NOW!'l ~AR'=--QEn I, "'I q~f: '. r UniIBreakdo.'."" NONE KNOWN NONE Anal\'015 of lemal dala and support for e,limated malk~t renls lorlhe Individual SUO!eel UIlI!S "'porttd IJdCl'N 111l(,IHllnq Ilw dllt'quiKI' ul tlw camflarah!es. u>nI,,1 cmlce~<;iuns de! VERY LIMITED SIMILAR RENTAL PROPERTIES WERE LOCATED FOR ~ARISU!~ PURF'9..:SES NO RENTALS COULD SE LOCATED Wlnl_ COMPARA~LE GlA SIZE IO THE J,!}BJECT TH[J,!O"FO~__~IJ!:lJErr Rf~:!:."SC.!iEOUL~.XIJILt~.~_DIS!,.:Q~.N1~!'t(~ORq!~Q.!:.Y__ RentSchedul~" Till> a raiser mu~t reconcile the a Ihcable intll~at~d monthrl 'l1arkd tents to luvld~ all U Jlnlurr allh,> nldrktl rent fm edch uml rn Ille sub eel ro t'r Leases ..ActUal Rerrt~ OplnlonOIMarketRent : ,>1.,1 I pase 12~~_ __~_ _ !"t'" Ulff( >,e'(Litlit "ci<# ANN~~:DM' ANN~:~"" _rU~'~~~VoIrl_~'''~~~'~VIN f 'J~'~~OWN:' '''N'''';'J'~o~e,,,,,'"e'N;;;J;,"''"'_;!J' ,ANNUAL ANN~"" -=, j' UNK~QWNI "NKNOWN ~ U,NKlJoVm :'_' .. JJ~:, NlA,i. ,_,500 Commellrnn lease data APPRAISER ASSUMES Total A~rual Mnn!IIII,R!~__ ~-l.l0.,:I~~Monlhl\' ~~~_ l s _lc9.!:!9 ANNUAL RENTALS ACTUAL RENTS WEJ-.!E' UlIi"'IMof1!I"II~~~(~:j~'-' ~ l:.ther Monthl...II'~Onlellt(-'mllrl 1;._' NOT PROVIDED TO APPRAISER lot,,1 Actual Mont'll tnCG!l1~ 'J 10t,,1 Estimated Month! Incume 1___ 1.000 UtiliJjeSlndudedrnestlmaledre~ts Elecl'!'; Water Sewer i 1G~;-'D(l11 nc:~i;lp. r:.I'd';IICQII~Cllon other describe NONE KNOWN Comments on aC(lIar OJ e';tiOlated r~nts and ulllet monthly in;;o~le (including p"rso~ill ;HOIH'JlI'! J\~'-~1<f.!'!l^~. FIGUB-ES WE'RE NOT PROVIDED TO APPRAISER _ . OPINION OF MARKET RENT IS NOT AN AVERAGE OF THE ABOVE REN1ED PROPE'.RTIESJN~~EADE_HA~:;J~.I~~ENQ!~9UNT_~.9p~TQ.~~L OTHER RENTALPRO,=~TIES LOCATED HAVING ~.!.L~H l.8~gER 0L.~ TH6/1!_ fHt SUB)U did not reseMtllthe sale Of l!an~lpr hlstmy ~r thr <,I!bWrJ r'Olwrty ,1f10 [Iln1pJr~hlp ~'Llr" I' '11>1 PXlltil'" M research did X did nol reveal all ~rio! sales OJ tral!~l~rs ~t llie <;ul't'c\ P!oJl!l.ll' lor !Ii" rll'~Pj'e"r'J'r,,'r to' t:H' l't!I'C!I'I::_dale ~t__li!!' ~p~~!:;>.~1 Data source s MLS/PUBUG RECORDS M re~eclrcl1 X did drd not teveal ~II !lor s~~!an"-I.:.!.~?ft,ll(',-'~~piH-,~bl~ ,ale~ j~'.rJ!i~ YCil.!..P'"H Ill.~ dat', ~,i__~,11' ul !I\fe_Cflmllarabh~ salro.... Dalil $Owe s ML$JPUBLlC RECORDS RIO 011 th." resul!~ 01 tll~.' '':.spa,d, and analysis 01 tl1~ PliuJ ,al~ hist~.0~!_!hl' ~.l!!21.~JI.8['e':Y a".d (UmPdldl!!~ ~JI~~.~~.,.!.fdrtlGn<l1 prru.J sale.~~EO.~' ~ .._.!.r~ _ __. SUBJECT__ 1___~m2P3E68Lf :;ALE "il' :+__. :~'~f'AR~~qA;.:.t!iQ...2__ C.OfAPARA8LE SAU: t:!lJ 3 Dale otPrlor SalefTIansl"r NO OTHER SALES +!'!9 OTHER SALlS 'cV)OOi', .1..:!QQ.08 Price 01 PliO! SalelTlansl~1 LAST 3 YEARS - - __~.(?1 1 Y~f\8..___.' _~-'jC.t!iJ:"!FIC~i.E OF- 11lJ:J' CERT1FICATE OF TITLE Dala SOIJIC s PUBLIC REr:ORDS __' F:.UBIIC.gfr.UROS L!--'-!llcl,lIr: RECORD~ PUBLIC RECORDS Eflecliv~ Date 01 Data So~rce s AUGUS~_ ~OQ0rAUGlli':,L 18, 20~ _ j AlIGU:;T 1.!;l, 2009 AUGU~T 18, 2009 Analysis 01 rllor sale hJstory lot the ,ub,rct IHO[lI~111 'Inti ,"~mp"'<lhlf' ;"I~' _1_1::!~,..~JE(:,!~.~t:~l '~^LI \N,\~; T HRU: YEARS PRIOB TO THE: EFFE:,CTIV[ D~l F OF THIS SUMMARY APPR~ISAL .. 'eiJdreM"'"'m,/I.lor"'l,YJ'i 'a",'eM", F"'", Ir1!S Mil'cn1Q(l< SUMMAR'r Small Residenliallncome Property Appraisal Report FileNo. JD-B-1Q..09 Tneleare 5 <0 arable /ooerlies currentlv offered lor salt! In the sub,eclnelohborhood ran 'inolnoricelrom$ 119900 10' 300 000 There are 4 <om rablesales in lhe sub ecl nei hborhood wilhin the oast twelve months ran inomsale rPcefrom$ 41000 10' 127000 FEATURE I SUBJE<:T COMPARABLE SALE NO 1 I COMPARABLE SALE NO.2 COMPARABLE SALE NO.3 912 SE 4TH ST 2219 NE 3RD AV~ ! ~15 NE 7TH AVE 624 ALLEN AVE Address BOYNTON BEACH BOYNTON BEAU I BOYNTON BEACH BOYNTON BEACH Proxim""loSub'ect 070mllesf,' j095mlles N 0.66 mileS N salePllce , 169000 , 1200001 , 85000 . 127000' Sa\ePiiceJGlOssBldh.A1ea$ 146.96 '<h ft . 7134s " is 6661 . , 56,17 ~.ft Gross Month Renl . 0 . 1400 Is 1900 , UNK GrossRentMultllier 000 8571 4474 0.00 Price Per Unh . B4500 , 60,000 Is 42500 . 42333 Plice Pel Room , 28167 $ 1t>,000 , 14167 . 12700 Price Per BedlOom . 84 500 , 30000 $ 42500 . 317ft) RenlConlrol y" IxlNo I Yes Ix INl V" IxlNO y" Ix No I OataSQU{c~Js MlS Ml5 MlS Verification Sour~els PUBLIC RECORDS PUBLIC RECORDS PUBLIC RECORDS I VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +-IAdlusV1\erll OESCRlPTl0N ,.{.\AlIinslmenl DESCRIPTION +(.'hfUSllTlent Sale or Financinll NIA REO REO REO Con~e5sions NONE KNOWh' NONE KNOWN NONE KNOWN Oa1e-oISa\errime 4 12/3012008 04/15/2009 0611712009 Lo~ation SUBURBAN/AVG SUBURBANfAVG SUBURBANIAVG SUBURBANJAVG leaseholdlFeeSlmnle FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE Sile 5760 +/- SQ, FT. 8091 +1- SO. FT 13782+/-8Q FT 7100 +/- SQ. FT. ~.. RESIDENTIAL RESIDENTIAL RESIDENTIAL RESIDENl"IAL DesinnlSl\llel 1 STORY 1 STORY 1 STORY 1 STORY IOlllllilVofConslruclion AVERAGE AVERAGE AVERAGE AVERAGE Aow.!""" 54 YEARS 36 YEARS 38 YEARS 59 YEARS Condition AVERAGE AVERAGE POOR +20000 POOR +20000 GlossBuildinhArea35 1150SQ,FT 1682 sa FT -18600 1276 SQ, FT -4400 2261 SQ, FT. -38 900 UnilBreakdown "... Bdrm. ~" TOlar Mrms B.elhs Toral 6<11"'1 Barns ,.. ..~ 8al,," Unit#t 3 1 1 4 2 1 3 1 1 3 1 1 Un\ln2 3 1 1 4 2 1 3 1 1 4 2 1 Unil#3 3 1 1 Unh#4 BasemenlDescli don 0 0 0 0 BasemenlFinishedRooms NONE NONE NONE NONE FunclionalUlililv AVERAGE AVERAGE AVERAGE AVERAGE Heatin"lCoolinh CENTRAL CENTRAL CENTRAL CENTRAL EnelhvEllicielllltems STI\NDARD STANDARD STANDARD STANDARD Parkin"OnlO!fSIle STREET DRIVEWAY DRIVEWAY DRIVEWAY Po/chIPatiDlDeck ENTRY PORCH ENTRY PORCH NONE ENTRY PORCH UPGRADES NONE NONE NONE NONE NONE NONE NONE NONE NONE NONE NONE NONE NONE NONE NelAduSltnentlTotall I 1+ Ix , 18,600 Ixl+ I , 15600 , lxi, , 18900 AdjuSled Sale Price N'i!tAdj, -15.5 % NelAdj. 18.4% N,lAd~ -14.9 % olComMrables GrDSSAd. 15_5 % , 101,400 GrossAd'. 28.1% $ 100 600 Gf0$5Adi 46.4 % $ 108,100 Ad'. Price Pel Unit 'Ad,SPCOfllIWotC wits' , 50.700 , 50,300 . 36033 A(r.PriceperRoom;~:- SPCtirn /lot -, , 12,675 $ 16767 . 10810 Ad'.PricePeIBdlm.---~,sPCom IwolColTm8(ll1roomsl , 25350 , 50300 . 27025 IIa\ueP'i!IUni( , 47500 X 2Unirs " 95000 ValuePerGBA . B2.61 X 1150 SO.FT, GBA '. 95002 ValuePerRm, $ 15833 X 6 Rooms =$ 94998 Value Per Bdrms. , 47500 X 2 Bdrms. =$ 95000 Summary of Sales Comparison Approach including leconciliation 01 lhe above imlk.e.torsolvallJe F\NAL MARKET VALUE ESTIMATE IS NOT BASED UPON ANY SINGLE LINE ADJUSTMENT IT WAS BASED UPON ALL ADJUSTMENT'S AND APPRAISERS MARKET DATA FILE ON THE SUBJECT'S MARKET PLACE, THE SALES ABOVE WERE THE MOST SIMILAR AVAILABLE FOR ANALYSIS THAT ARE IN THE SUBJECT'S MARKETING PlACE. SEE ATIACHED ADDENOUM FOR ADDITIONAL INFORMATJON ALL SALES ARE THE MOST RECENT AND SIMIU\R SALES LOCATED FOR COMPARISON PURPOSES, VERY LIMITED RECENT SIMILAR SALES WERE LOCATED FOR COMPARISON PURPOSES Indical d Value bv Sales Comoarison Aooroach $ 102 500 TotaJl'llossmonlhlvrenl$ 1 000 X nross lenl mulllnlier IGRM\ 102,00 , 102000 Indicatedvalueb IhelncomeA roach . Commenls on income approa~h inclUding reconciliation a/the GRM ACTUAL RENTAL FIGURES ARE UNKNOWN GRM WAS DETE:RMINED USING ESTiMATED MARKET RENT llldlcatedvarueb: SahraCom leonAnalV$Js$ 102500 l"comeAoDroaeh$102 DOC costA....rollChn,develon.....S 0 THE SALES COMPARISON APPROACH IS THE BEST INDICATOR OF VALUE REFLECTING TYPICAL TRANSACTIONS BETWEEN BUYERS & SELLERS. THE COST APPROACH IS NOT CONSIDERED A RELIABLE INDICATOR OF VALUE FOR EXISTING HOMES DUE TO MEASURING PHYSICAL DEPRECJATION FACTORS. THE INCOME APPROACH WAS NOT APPLICABLE IN MOSTLY OWNER OCCUPIED AREA This appraisal IS made W"as i5: Usubjecl to completion per plans and specifications (lrl Ihe b~sls of a hypothetical cond~ion lhal lhe ImprOV1!ments have been completed, DsubJecllo the follOWing repairs or a~eranons on the basrsofa hypothellCal condlllon that the repal/sor alleratlons ilave uel!rlcomfl!e\ed,1)l OS\lbiect\olhelo\kJWinglequNell insp.echon based on the e:draordinary assumption thattM corldilionOI de f;ciency does nOI require alleratiorll)l repair: THIS lSA SUMMARY APPRAISAL REPORT AND IS INTENDED FOR USE aV"!HE LENDER/CLIENT FOR MORTGAGE FINANCE TRANSACTION ONL Y REPORT IS NOT TO BE UTilIZED FOR INSURANCE OR INCOME PURPOSES, NO PERSONAL PROPERTY ,"eLUDED 8u...d on a<;:<lft\p\~\~\I\1.u..1 \nap~..uon o. tht llll~/iol end tXle/io/ artlls of the SUbje<;:t propelly, d~'ined scope 01 work, stal..ment ofassumpllolls and limiting condltlons, and appralse/'s cerllficallon, my (OLl') opinion ollhe market value, all' def.ntd, ofthe rul properly Ihatls the .ubjsel 01 this leport I. S 102,500 001 AUGUST 182009 whlchlsthedllteo'lns"ectloll....dtn."<<e."\lnd.let>l1hls--IlI.Il. " IolItF<llm72Mordl:WOS ~o:dtud",iro::AC'_".8Il0,""',am_",;...b"'m FamM..F..m102SMBJd12CllS Pllge3orl Gler. Dake ApPraISals '~?5_OS~ : .'~. jl,~;, ,. , Small Residential Income Property Appraisal RepoL 'II,""" JL' 'COMMERCIAI rROPERTIESARl !-OCATED ON THE MAJOR THOROUGHFARE ROADS ANI) A.RE NOT CONSIDERED WITHIN TH~_. _. NEIGHBORi-!OO['c THERE ARF Nll APPARENT AQVERSE FAL;TOR~ WHICH SHOULD AFFf.0JHE SUBJECT'S MARKETABllIT,: STABLE MARKET PRICES DEM()~~STRAT~ 00ES-!U/lTE_~RK[T DEMAND FQt THIS AREA THE IMPROVEMENTS fONf:ORM TO THE ;;;lJRROUNDING AREA lHF SURJ[:'lHV, AC',F0' 11_.!'-_IIJ::!.!:..CL~!\Ei2:..~\IPP_QR_11N(~ ~AC:lt_ITIF~J.NCI UL1IN'i..g;.HQ.QI' ~;_H: H><'INC 5F~:,RE!'.1..ION....8N[ EMPLOYMEJ.__ EFFECTIVE AGI I~,~! 11l..r"Ar~':"'IHE :::AMc AS rr_IL~I_ T~J,GE DUE fO THE tXIlNl llF ALU HE UVlRfIL,- ~,IAINTENANG~_J:!::___ FUNCTIONAL fXI ERNN CiR F'HYSICIIL INADEIJUACIE5' UBSEkVE9., THIS Ri':!,_Q..RT l:O-NOl Hl l!,E-. CUNST RUfO AC.;A HUMF REPAI~ INSPECTION AN !..N::;p[r:Tlm~ CUMPANY ~HOULD.BE \~Q!:!l""CTEDrOR__~U(:H A RFPORT0u~mITION llf' \JVI::RALl. DVVHLINGIPROPERTY IS CONSIDERED Aq~~~_NEIG':@i?l~HOllrJ NORr::1~ l_l::!II~E_~!,_l:. Nr2.XtWWt:J OF ~Pf)AB.fNT ,",f)VlP.SE LNVIRIlNt\liP!I e..1 ,:QtinITIONS THAT WOlJlOAOVf,--RS~I.~~!TEn VA11.1~ -- - - - -- -----~-.,.- ClarlficallonOffm('nn"',::_~'J;'-Jlrll'-'rld'-''l.I.0.'::.. The Intendea U~er 01 t!'" a[l'ra6.'l~?~.!.r1rl Ler!.~.!::~/~_III:?fl!.....I_ll" Ir~~ed ~Lse IS~? !:'vall-ale the PXl'f'.€'~r1Y that !~~~:!.~,t_ !h'3'!~~!tO' a r)lor!qaQe finance transactl[)p, sullied \0 IIlfo' s\,!!,=,d 0C(]~I_'!J:.Jr~.~]()sf' uf t1~l!:pr~~1 r€U0!i"I;d rp:':l':iirern"rll'o 0' ti,ls 81'I-JrdIS's' f",f'U:; hlrr:!. arxi.~~'?tlnr.!!.01.!'1~81k<!t Vatut'!o No ad9Itl[1lla~ ID~ryte,j_~_:;"r', ,~':' Idt";tlfi",d t'\' the ~!E!<;;s~r A VISUAJJt:!SI--'~ll_l~-" ~ ~;l.!J:?,_!FI'l PROPeRIl ,<VAS 1-:'!,,_RF\LI3.!:0Lll. .I!i~_I!'!:";_P_E:!o:_:U~)NI~__r:iQJ_l~l;H~.jICI~U' U,Hr.; 1':11 GLAAND.S~ (~llI'!FIRM~D BY f~U8LII _REI :0J3pSJ~~t:!P!!i_~.91:i.s. CN~~ VE~.~CO.!'lTA(:T WITI:l.lHf::_~I:Al T_I_'_ VERY LIMITED RECE:.ti:!J?I!YlILAI~ ;:;A~ES WIBL I ()CATID I OR CqM.t'ARfS_Q.t:I f'URF>qJ!_~S COST APPROACH rOVAlUE (not requIred by FannIe Mae) PrOllideade ualeinfofmation for the lendellclienlto re licalelhebelowcosifl ult'sam1cafculatIOn~ ~_~~.~~___,~_ ~_____ SUpport for the oponlon ot site value (~ummaryoj comparable laM salesllr olhRr methods fOleslimaling srlo value) 'CQST APPROACH 15 NOT CONSIDERED A RELIABLE INDICATOR OFVAWE FOR EXISTING HOMES DUE TOMEAWRJNG PHYSICAL DEPI3ECI~T~9l'l. FA~I..ORS.IT IS CONSIDERED RELIABLE FOR NEW OR PROPOSED CON~TRUCTIO.N WITH LITTLE 9R NQ O~FRE::<;:IATION_ ESTIMATED RtPROD.l!~TION .OR U R~PLA~lMENT_f..O~]_ NE0 ---.......------r.~---...~ _.__ ._..-1--'2!"f~llnl~IJF. S.11~\I!f ___~'I~J~__ __ Source 01 cost data _.____~~_.___. uali ralin tromcoslserviC,e EtlectlvedaleD!cuslda(lI Comments on COSI A roach ros,<; livinQ alea caIClllations,j!1lrellaliOl~~l':l.. t SnFt~ ~I@:'__- _L_ o Gala elf~. i.!Ln@$_______ lo'al.fg~!'aICuIC<l,t ~~ "ur~L".~.".~iJ Extf':!.!~~1 Ol-'plr~'dtl('1l _ ___.J __ ___ Deprell~~~ ~lr~~'.E:~:~_ "'As I~" \j~lue 91 ~1~lHowrl~~~_'_____ '_L --~ =~1 -~"-, o o .1'..1 Es1/ma(edRemami!J Economic Lite HUD and VAonl 3D Years INDICATED VALUE BY cuST APPROACH PROJECT INFORMATION FOR PUDs (if appffcabfej Isthedevelo lIbu,lderincQntmloltlleHomeowneISA&SI1Clatll)n HOAJ::'..._. Y,es ~I!..~J L I[)L'latll;dTIAn~(n;~-___ PlOville the lollowin informalion tOI PUDs ONI. Y It!nP oewlop\;~IIJuildel i5 ,()"~"r'tr"t a/tile h~ld lhF.-_?!I1~',t ~e'y" dn a1lat:.~ed d~!!llLUIl!!. Le al name ot roeet __"~._ ___~___~ ___ Total rnJmo+:f 01 ase, TOlalnumo~rolllnlls_ lr!lalnumberotunlt,solrl TOlalnumbel of units rente~ Total numoGI of ilnllS lur ~ale .. _ ,JJlo ,nlJll.!:1& Waslne lOeclcreah:db thecon'/erslonofanexislin bulldin S intodPUD? _UYf'w_i;_I!"~~ rt;~_~llO~"I"I~~J~~~---' - Does the ro CI contain an multi-~wel\im units? Yes No Data sOulee 5 Ale the IJmt~, ~(lmmOn el€mpnts, and re,leation facilltie~ complptp~ II iJ,-, rl~~r.llbp ~Ie ,I"r,,' ,,: "'mll,I~lioD u .--1 F,ed~i. Ma, Fo'o, ',') "",<:11?(Jil< '''",ce.8<:0""" 0",.",,1" -1 , I j -'i",'~^~",i-fVm 11)25 ""rot,"" Are the CQmmnn elements Ipased Iu 01 by th~ HomellwIlPI<;' AS".Qriatlon'. n ~.~.: --nN~ 1'", ""f~ih;, '1, ""'ldll<'ll11c d'ld 'lptiUW Desclihecommo~elpmpnt5and rrclPatiooalfaclllfit'S SUMMARY Small Residential Income Property Appraisal Report FileNo. JD-8-10-0~ This report form is desIgned 10 repon an appraisal 01 a two- to four-unit property, induding a two- to four-unit property in a planned unit development (PUD). A two-to four-unit property located in either a condominium or cooperative project requires the appraise" to inspect the project and complete the prOject information section 01 the Individual Condominium Unit Appraisal Report or th~ Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report. This appraisal report is subject to the 10\lowing 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 use, definition of market value, or assumptions and limiting conditions are f'1ot 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 0' deletions to the certifications are also not permitted However, additional certifications that do not constitute material alteratlon>o to this appraisal report, such as those reql.JITed by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitter 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 vaiue, statement 01 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 <:lata from reliable public andlor private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report INTENDED USE: The intended use 01 thiS appraisal report IS for the lender/client to evaiuate 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 selier, 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 01 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 com parables must be made for special or creative financing or sales concessions. No adjustments are necessary 10T 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 o1fered by a third party lnstitulionallender that is not already involved in the property or transaction. Any adjustment should not be caiculated 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 CONDITIONS: The appraiser's certification in this report is subject to the follOWing assumptions and limiting conditions: 1 The appraiser w\l\ 1'10\ be responsible for mailers 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 invoived in performing this appraisal. The appraiser assumes that the title is good and marketable and wi\l 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, including each of the units. 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 10 do so have been made beforehand, or as otherwise required by Jaw. 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 de1iciencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, loxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes 1'10 guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that aD exist or 10r 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 ~ubject property will be pertormed in a professional manner FreO~l~m12Mareh200; PrO""'.d""Irw.l""'",_...eOO2,.an7_.'O~b<o'" PageS o! 7 ~.MleF<llrnlll25M1rrc2005 1025_~0!l]g(l(; 1!['.,1I..1;, Small Residential Income Property Apnralsal Repor f'I" ~,fj JD-ij, lU ()~, I I i I I i APPRAISER'S CERTIFICATION: fhe Appraiser cenlfies and 8grpp', 'I I nave at a rmillmum developed ann reportt'd lhis apprais;lIln <'\cr"-JI;Ji-l[1 f ap{lralc,;:,I,-pr/" , )IW;;1 W(\ll. 'eQUlrements stated in this I perrormed a complete visual Inspection oj the Interior and exterior J;ei;l.<'; ur I'), the condlt10n of the improvements In factual, specific terms I identlflecl i'Hlr1 ler",rt,_ rhe 1!\'abllllc' sounnness, or struclural integrity of the proreriV J!' i--'I:t L'liJpeny Including all units. I reported , t. ,,' rw,';<-!:''-ti rjptlf:lt'ncies that could affect luetiormed ttllS appraisal In accordance with the requirements of Ule Uniioll1: :-'lalliJdriJ~ c! F-'Iotesslonal Appral:'$a! Practice tnat were adopted and promulgated by the Appraisal Standards Boarn of) he I-IPD';jI.'.;; tJur'datlol1 and that were in place at the lImf. I'm' arJPralsal rerort was prepared I developed my oprnioll of the market value of the real property that IS file ~UDle"i < >; '1111;; l-ep(Jr! cased on the sales comparison and Income approaches 10 value, I have adequate market dat<l to develop reliabl8 sal8S l;omp8nson and income approaches to value for this appraisal assignmenf I further C€ltlfy fhat I consideled the COS! aprll()8~i, '" valW' buj did not develop It, unless otherwiSe Indicated in this report :> i lesearched, verified, analyzed, and reported on any curren! agleement for sale t,-'r 1118 WbJecl property, any otfeljng fOI sale at tile subject property in the twelvf> months prior to the effective date of this applalc,al, and the prior sales of the subject property for a 11lH1I1TIUm of three years prror to the effective date of this appraisal unless otherwise mdicated in this report 6 I re>>earched, verified, analyzed, and reponed nn the prior sales of the compalAlllp sales for Cl minimum of one yeal prIOr to the date of sale of the comparable sale unless otherwise Indica-ted in thIS repnrt 7 I selected and used comparable sales that are 10Ca\lonally, phYSically and IUllc!I,-'nally tile most Similar to the subject property 8 I have not used compartlble sales that were the result of combining a land salt; with the r.ontract plirchas~ price of a home thaI has been built or WIll be built on the land 9 I have reported adjustments to the comparahle sales that reflect the tllarket's lea' tlon lu tIle differences between the subject property and the comrarable sales 10, I venfled, from a disinterested sourCf~ all Information In thiS repori that was prOVided by pariies who have a financial mterest il, the sale or fmancmg Of the subject property 11 I have kllowfedge and e:.:penence In appraising this type of property In Ihis market area 12 I am aware of, and have access to, the necessary and approprrate pUblic and private data sources, such as multiple listing services, tax assessment records, publiC land records and other such data sourcps for fhe area in which the property is located 13 I obtained the informatJon, estimates alld Oflllllons flJf!1lshed by other pOlities 8nd e>:pressed In this appralsa! reporl from reliable sources !l1at I believe to be trup. and r0rrp.r:t 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 IIlfluences 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 mvolved in performing thiS appraisal 111ave considered these adverse conditions in my analysis of the property yalue. cmd have reported of1the effect of the I~ondrtlon!l on the value and marketability of the subject property 15. I have not knowingly withheld any Significant mformallon from this appraisall(~port and to the besi of my Knowledge, all statements and information In lhis appraisal repmt are true and correct 16, I stated in this appraisal report my own personal, unbiased, and profesSional anal'lSIS opinions, and conClusions, which are subject only 10 the assumptions and limltln9 conditions In this appraisal report 17 I have no plesent or prospective mteres! mthe property that IS the subject 01 Irlrs report, and I have no present ur prospective personal interest or bias With respect to the participants in !h8 transacllon I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the lace, color religion, sex, age, marital status, handicap, familial status, Of 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 vlcmity of the subject property or on any other baSIS prohibited by law 18 My employment andfor compensation for performmg thJS appraisal or any future 01 anticipated appraIsals was not conditioned On any agreement or understanding, written or otherwise, that I would repOTt (or present analYSIS supportlng) a predetermined specifJC vaJue, 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 mortgagf':o loan application) 19, I lJersonally prepared all conclusiuns and opinions about the rea! estate thaI Were set forth in this appraisalleport (f ( relied Orl SIgnificant real property appraisal assistance from any indiVidual or individuals in the performance of tllis appraisal Ot lhe preparation of Ihls appraisal reporl. I have named such mdlvidual(s~ and disclosed the specifIC tasks performed in this appraisal report I certify that any individual so named rs qualified 10 perform the taSKS I have not authorized anyone to make a change to anv ItAm III this appraisal report. therefnm any change 'Dade to thiS appraisal If ul1iluthorized and 1 will take no responsibility for It 20 I Identified the lender/client In thiS appraisal repor1 WllO IS tile Indlvloual and Will receive this appraisalleport ~,roal;;zCJli011 01 agent fnl the organlzallon thai oroere<1 i r",oi. MIle Form 1OZ5 Mar,~ 100' 10"'0">';1"" FleddIHlor_'mmllMatcl11005 SUMMAR\ Small Residential Income Property Appraisal Report FileNo. JD-8-10-09 21 The (enderldient may disclose or distribute this appraisal report to: the borrower, another lender at the request of the borrowe(; tne mortgagee or its successors and assigns: mortgage insurers: government sponsored enterprises; other secondary market participants: data collect/on or reporting services; professional appraisal Dfgan\Za\lons, 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 retations, 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 arn 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 mortgage€ or Its successors and assigns, mortgage insurers, government sponsored enterprises, and other secondary market partiCipants may relv on this appraisal report as pari of any mortgage finance transaction that involves anyone or more of these partie'" 24. lf 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 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 certlfies and agrees that 1, I directly supervised the appraIser for this appraisal assignment, have read the appraisal report, and agree with the app(aiser's analysis, opinions, statemer1t$, conclusions, and the appraiser's certification 2. ! accept full responsibility for the contents of this appraisal report IOcludlng, 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 thaI 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 ana/or state laws (excludlr1g 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 Signature ~L;( O~ Name GLEN DAKE Company Name GLEN DAKE APPRAISALS Company Address 16095130TH WAY N JUPITER FL 33478 Telephone Number 561-7~161 Email AddressGDAKE@lFLAPPRAISAL5.NET Date of Signature and Report AUGUST 18, 2009 Effective Date of Appraisal AUGUST 18, 2009 State Certification # ST. CERTIFIED RESIDENTIAL RE APPRAISER #RD51B7 or State License # or Other (describe) State # State FL Expiration Date of Certification or license 11130/2010 SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Name Company Name Company Address Telephone Number Emai! Address Date of Signature State Certification # or State License # State Expiration Date of Certification or license ADDRESS OF PROPERTY APPRAISED 912 SE 4TH ST BOYNTON BEACH FL 33435-5806 APPRAISED VALUE OF SUBJECT PROPERTY $102 500 SUBJECT PROPERTY B Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection o Did inspect interior and exterior Of Subject property Date of Inspection LENDER/CLIENT Name Company Name N/A Company Address COMPARABLE SALES BOid not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Date of Inspection Email Address F,.od,. Mac Fo,m 11 Morel1= pro''''''o"",.-.gA,CI'O_,",BOO.l~,e72'www,'C1W<O,o." P",,_701/ f.,.,ItMoe~(I/mlWSlollrchm \m~_~(l€,:l9OO Glen Dake Appraisals ADDE:.NDUIVi l:lonower~ N/A f'.r~rtvAdtliess ~~E_41U~~ (try, BOYNTON BfACH Lender NIA 'lie t~o JI).8 ,10 0':-1 :.3~" Nu ~~fL [if!. l.3.4.~5-.i601, Neighborhood Market ConditIOn< PUBLIC RECORDS INCLUDING SALl/RESALE OF PROPEPTIEc, MO ~'I '; '; rid 1';Tll:,; Itj 1 Hr. r,EIGtlBURHOOD ~;tJPPORT A MARKET THAT HAS DECLINED ON THE LAST 2 YEARS WITH TYPICAL MIIPKE1IN,::; riMES n~ ~I; T' , 180 DAYf', If- !"RICEO PRnpl::Rn SOME REO AND SHORT SALES PRICED AT QUICK SALE VALUES CONTINUE:: 10 HAVI:: A IjE(;ATIVE EFFF'1 ,)r, "At ~ES Ir.; THIS NEIGHBORHOOD PROPERTY VALUES SEEM 1 (j HAVE S1 ALIZED WITHIN THE SUBJECTS IMME[lIATF N[ 1':;HR0PH~)f',U I ,e- \I'"(,,=,[),-,,rm.s SOME llV{J.PPICfO t ISTINGS HAVE UNGERED ON Hjj- MA,Rf<TT FOR OVFFl I ()-AR r:REATiNG 1H)- II L!',;I\1II, ',.~.-.r."f_"lr", rlf~E" ITI f"-F' c, rjf!i MCJ)\JTII~, If PRlef'D PROPERl Y PRr)PFRTIE~: A.1'f'rAR 1, E'f, <-,r\.~IW; IN '_'IX M()~'ITI-IS O~ I '(I~'.f' F- I',' II"" : 'f-"" "jT[ ',I,r1 < 'r! "11'" "irIGHRClRl-1nllr' I\dnef1~"m Pagfe I "r SUBJECT PROPERTY PHOTO ADDENDUM Borrower: N/A FileNo.: JD-B-10-09 PropertY Address: 912 SE 4TH ST Case No.: City: BOYNTON BEACH State: Fl Zip: 33435-5606 Lender: N/A (.... r' '- ,. r FRONT VIEW OF SUBJECT PROPERTY Appraised Dale: August 18,2009 Appraised Value: $ 102,500 REAR VIEW OF SUBJECT PROPERTY STREET SCENE Borrower: N/A Property Address: 912 SE 4TH S7 City: BOYNTON BEACIC Lender: N/A COMPARABLE PROPERTY PHOTO ADDENDUM File No.: JD-B-10-0S Case No.: Stale: FL Zip: 33435-5606 COMPARABLE SALE #: 2219 NE 3RD AVE BOYNTON BEACI--' Sale Date: 12/30/200( Sale Price: $ 120.00C COMPARABLE SALE #2 615 NE 7TH AVE BOYNTON BEACH Sale Dale: 04/1512009 Sale Price: $ 85.000 COMPARABLE SALE #3 624 ALLEN AVE BOYNTON BEACH Sale Dale: 06/1712009 Sale Price: $ 127,000 Borrower: N/A PropertY Address: 912 SE 4TH ST City: BOYNTON BEACH Lender: N/A COMPARABLE RENT ALS PHOTO ADDENDUM File No.: JD-B-10-0S Case No.: Slate: Fl r r , {' Zip: 33435-5606 COMPARABLE RENT AL #~ 431 SW 9TH AVE BOYNTON BEACI-': COMPARABLE RENTAL #2 431 SW 9TH AVE BOYNTON BEACH COMPARABLE RENTAL #3 615 NE 7TH AVE BOYNTON BEACH FLOORPLA/\ Borrower: N/A File No.: JD-B-10-09 Property Address: 912 SE 4TH ST Case No.: City: BOYNTON BEACH State: Fe Zip; 33435-5606 Lender; NIA 14 O' ! I b Storage ~, , ~ -t i "a r "'-' '\ .6.0' Bath Bath Bedroom Bedroom 0 b ll'i !': N living Room Kirchen Kitchen living Room I I I ~1.0' ",a , \ b b on on 21a S.Qlchby~llN'" Comments: AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN Code Description Net Size Net T olals Breakdown Subtotals GLAl First Floor 1150.0 1150.0 First Floor pip Porch 105.0 105.0 25.0 x '6.0 1150.0 Net LIVABLE Area (Rounded) 1150 1 Item (Rounded) 1150 - 16095 130TH WAY NORTH. JUPITER. Fl 33478 FLOOD MAP Borrower: NI... Property Address: 912 SE 4TH ST City: BOYNTON BEACH Lender: NI? File No.: JD-8-10-09 Case No.: State: FL Zip: 33435-5606 r r FJoodMap Legend Flood Zones 6111 ~I,~ ~!. . . ~. .."~.~.. Flood Information CommurJ;y' 120196. aOYNTON BEACH. CITY OF PropiHly is no: ir a f'EMA special flood l\azard ar9a. Mar> NUIT1ber; 1201% 0OO3C M<lp Dale: 09130/1982 Parer: 0003C FIPS: 12099 ZUI'i..:C r Atea'lnunclaood by !>OO-y.er nOOdlng AI.... QU("'" oftt>e 100- M<l Mo-:t'!..1bo~Q""'" r .. m.. _td by tOll-yoe' nooding .. me> _td by tOO. yo., nOOdlng Wilh _01)' h....~'d _ F_y.rtot _ F\oo<tway ar.as. \'If;.'\h "..loc.~y huarc "'... or """.'.""i".d ll<A ......1II. 11006 hOhltd. mas noll~d on ""'" IkJIl&shtd FIRM NI!~lh~f fran'-;\IIH~tl';'-1 r'u()d t-t~2:~f" C':furh:.,li:)n ('fF He) hOt ACI OI~":U :I"Y t~prr.';~n~dtjO'l",!i Of w.'UrAflbe.s. 10 any party concernmg tt.& COn1e~t. accuracy 01 C..Clrr:.p;N~n&;:;.!j of ~t1;s. flood repo)rt, induding an'y worrantYM merGhamat-ili:y or flHk....I~JI it f'i'tI bndi_1t Jl\lfp~~~:. Nttiftl1!t TfliC nor ACI cKJf ~ ~II~I Clr 1h~ 1\,,,00 ~~1 ~t.ftl: tu.'Jt'.t &n)' Itablltty 1-0 ao)' lhwd p'lU1y 101 any UL6 cr mis.U8e at this fto~d re pon 16095 130TH WAY NORTH, JUPITER, FL 33478 Borrower: N/A Property Address: 912 SE 4TH ST City: BOYNTON BEACH Lender: N/A , II Y NW 13th Ave ~ LOCATION MAP ::;,: (j') .' . r. " ~ ... -or ~ NW 12th Av& NW 12tb Ave tD MN 11th AveT Co- MN 121h Ave \ tNV 11th ""e I tNV 10th Ave ~I "" :;: NW 9th Ave 10' ~ ~ ,a. !<2 ~ NW ath Ave-~, Wi - a 1\ \ \1 \ i' lIt' '1/' : 21\d, Ave \;'.\' -','-- i," I' \ !! ~ lsl Ave lilll:' W:r~ I\~H · , ',Ii 1\ , ~ ~ ;1\1.' : i:!, : I, " 7 $W 3rd Ave fNo( 4th Ave ~,. ,sw "" ^" ' iw 5<" .... ~1\1 \\\,\ 1 1.ll ~W. 7th ,CI \)1 : II!, ; 1\\1\ 'i ~ 'fl*~ve .~j:(~., ~009 Ml~~f~"~'. 02ooe.~lfQ.llMI/Orl:th lhs,l/IC. '" ;;r, . I !!!?: g? tolW 61~ f've I, J I I' 1 tNV 51h Ave , I G') 9!. ~ '< NW 4th Ave ~ -.: I NW 3rd ~ " ,104' -- ---NW2nd, Ave (jj iii '0 '0 P'i c f'I ~ ~ 0 '0 C (jj N '0 ~ P'i ~ (/> ~ .&.' !e , Comparable Rental 1 431 SW 9TH AVE Boynton Beach, FL 33435.5557 (0.75 miles W) :> 0. fa S'N 14th Ave_ SW151h Ave NE 10th Ave ~.f- \-t'I'1 <;JIS' NE 91h Ave NE 8th Ave '\1.\1 />--.e # 0;, (;i -; ~ ~ ,C)~() 1'lW, State: FL File No.: JD-8.10-09 Case No.: Zip: 33435-5606 i7i NE 13lh.Ave i NE 12thl'Ave NE ,111~ Ave I E UI 2 i I bi' flj i~ . ., II f ,',' '., ~ III! 'Q i I ManoLDi l! I! ~ j I } ) , i Comparable Sale 2 615 NE 7TH AVE Boynton Beach, FL 33435.3945 (0.95 miles N) 1m Comparable Sale 1 (j) 2219 NE 3RD AVE !! Boynton Beach, FL 33435 '" : (0.70 miles N) 51 ,ve "" a Ih Av Comparable Rental 2 431 SW 9TH AVE Boynton Beach, FL 33435-5557 (0.75 miles W) i SW 13th 7we'" . i I ~ fa NE Comparable Rental 3 615 NE 7TH AVE Boynton Beach, FL 33435.3945 (0.95 miles N) Boynton -.__,,"D4 ., -'oBeach NE~<Ve ,/ / I NE lS1 Ave // ' f! 1 Comparable Sale 3 624 ALLEN AVE BOYNTON BEACH, FL 33435 (0,66 miles N) , ~E 41h Ave ~"'tOC\j ':\to "'~-,. ,NE 3rdAve # U5 :(i) ~' (jj ~ m !!l OJ' ~ -d.; !!!? SE 2nd Ave ~ t ~ i: SE 10th Ave SE 12th Ave SE '2th A.ve ~ ; : (f; tJ SE 13th Ave ~ ~ > . 16095130TH WAY NORTH. JUPITER, FL 33478 SW 2nd Ave SW_3rd Ave SE_3rd Ave SE 4th Ave ~E 5th Ave ~ SE 61 !!l o SE 7th AYe SE 8th Ave SE 9,lb Ave SE 10th Ave SE 11th Ave r SF14th Ave '192 SE II, , I j 71h /We i i ..#-'~ Sl ~Il !!J q t --; z \'Ii !!.' rl a f f ,: ! '0; 0<= ~; u.i z I ~ ,I 0<= ~ ~ t:~ \'1 )'i') JlO4i 111 '~ ~E 1st Ave I> I'~f , I , I \ I ;jl,l I.r It :;jl i It )'11 Kepner Dr) II )'i / jl~/~ibriar Di {l' /11 , i ,/ ii' 14 ~ ) / ~ i j I , " -;c', ~!, ~'! 0' ~t , J tI) m :i:' :~ Ui rn 'W 3- :~ ; i ; i \ )d /1 ri I . 0,43 mile , Castilla Ln RMef3 Dr 'r.I' nug Harbor _pc: ,I He No J0-8-10-09 FLOOD MAP STATEMENT, SINCE THE FLOOD MAPS PUBLISHED BY THE NATIONAL FLOOD INSURANCE PROGRAM ARE VAGUE AND POOR.L Y DEFINED IN SOME AREAS, THE APPRAISER HAS useD THE BEST JUDGEMENT AS TO THE SUBJECT PROPERTY BOTH BY VISUAL INSPECTION AND PLOTTING ON THE MAP THE APPRAISER ASSUMES NO RES?ONS1BILl1Y FOR THE FLOOD ZONE CLASSIFICATION 1-COST FIGURES WERE DETERMINED BY USING INFORMATION OBIA1NED FROM [:\THER MARSHAll & SWIFT COST SERVICES AND/OR LOCAL BUILDERS, AND/OR MARKET ANALYSIS OF THE SUBJECT'S MARKET PLACE 2 THE INCOME APPROACH IS NOT USED IF SUFFICIENT RENTAL DATA IN NOT AVAILABLE IT IS TYPICALLY NOT USED FOR SINGE FAMILY HOUSES AS THESE PROPERTIES WERE NOT BUILT AS INCOME PRODUCERS 3 WHEN NO CURRENT SIMILAR LAND SALES ARE AVAILABLE IN THE IMMEDIATE AREA THAT ARE SIMILAR THE SITE VALUE IS CALCULATED BY ABSTRACTION AND/OR :FROM PUBLIC RECORDS OF THE PROPERTY ASSEsseD VALUE AT THE DATE OF APPRAISAL THIS VALUE IS SUPPORTED BY VACANT LOT SAlES IN OTHER AREAS WHEN AVAILABLE 4-THJS APPRAISAL ASSUMES THAN THE ROOF, PLUMBING HEATING ELECTRICAL SYSTEM, WELLS ANDlOR CESSPOOLS OR SEPTIC TANKS ARE IN SATISFACTORY CONDITION, THAT THE BUILDING IS STRUCTURALLY SOUND AND FREE FROM TERMITE DAMAGE APPRAISER SUGGESTS THAT BUYERS, OWNER, AND/OR OTHER INTERESTED PARTIES OBTAIN ALL NECESSARY CERTIFICATION FOR THEIR PROlECTION PURPOSE & FUNCTION THE PURPOSE OF THE APPRAISAL IS TO ESTIMATE THE MARKET VALUE or THE SUBJECT PROPERTY AS DEFINED HEREIN THE FUNCTION OF THE APPRAISAL IS TO ASSIST THE ABOVE NAMED LENDER IN EVALUATING THf SUBJECT PROPERTY FOR lENDING PURPOSES THIS IS A FEDERALLY RELATED TRANSACTION SCOPE OF ASSIGNMENT IN KEEPING WITH THE APPRAISAL PROCESS AND THE PURPOSE OF THE APPRAISAL, ORIGINAL RESEARCH ON THE SUBJECT, NEIGHBORHOOD, AND POSSIBLE COMPARABLE: SALES HAS BEEN UNDERTAKEN TO PROVIDE THE CUENT WI1H A COMPLETE ANALYSIS DATA SOURCES INCLUDE THOSE CITED IN THE REPORT AS WELL AS THE COUNTY PUBLIC RECORDS, COUNTY AND LOCAL PLANNING AND ZONING DEPARTMENT, REAL ESTATE DATA SERVICE, LOCAL REAL TORS AND BROKER, OTHER APPRAISAL OFFICES, AND PROPERTY OWNERS RESEARCH PERFORMED FOR OTHER APPRAlSALS COMPLETED BY THIS OFFICE WHICH WAS CONSIDERED APPROPRIATE WAS ALSO UTILIZED, THIS REPORT IS INTENDED TO REPRESENT A TOTAllY SELF-CONTAINED DOCUMENT AND INCLUDES All PERTINENT RESEARCH AND THE SUBSEQUENT ANALYSIS UTILIZED IN APPRAISING THE SUBJECT PROPERTY. lFMlHEN APPRAISER AGREES TO GIVE TESTIMONY/DEPOSITION, LENDER/CLIENT WILL HAVE TO AGREE TO REIMBURSE APPRAISER AT A RATE OF TWO HUNDRED DOLLARS PER HOUR (MINIMUM OF ONE HOUR) PLUS TRAVEL EXPENSES ENVIRONMENTAL DISCLAIMER: THE VALUE ESTIMATE IS BASED ON THE ASSUMPTION THAT THE PROPERTY IS NOT NEGATIVELY AFFECTED BYTHE 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 DETRIMEt{Tp..LENVIRONMENTAl CONDIilON THE APPRAISER'S ROUTINE INSPECTION OF AND INQUIR!ES ABOUT THE SUBJECT PROPERTY DID NOT DEVELOP ANY INFORMATION THAT INDICATED AN APPARENT SIGNlFICANT HAZARDOUS SUBSTANCE OR DETRIMENTAL ENVIRONMENTAl CONDITION WHICH WOULD AFFECT iHE PROPERTY NEGATIVELY UNLESS OTHERW1SE STATED IN THIS REPORT IT IS POSSIBLE THAT TEST AND INSPECTIONS MADE BY A QUALIFIED HAZARDOUS SUBSTANCE AND ENVIRONMENTAL EXPERT WOULD REVCAL THE EXISTENCE OF HAZARDOUS SUBSTANCES OR DETRIMENTAL ENVIRONMENTAL CONDI110NS ON OR AROUND THE PROPERTY THAT WOULD NEGAT\VEl Y AFFECT THE PROP T~'lorm...,p.<c<L:'~""'""<CIDB\'''''''>elTtR8P''''or"",,,,",mI8ml234Bm \'N1<lmIJ1OO\ Glen Dake Appraisals PREDOMINAN I 'j,"-'LiJc'INUICf' 11::1' V"L" THE SUBJECT~; IMf'R()VEMt~Jl ,_ < )Nr'-\p~..; (;ONSIVERE:f1 ^N ",I' li'I',~"1 '( \VI ~,~F >, : f'l. 1'.li~'I\ I' Ie; -JAL' 'L'f' ,'\'illlih 1 III N[ f'- fW{)P,fl(\(lIl'~ Hi'" f I.,' 1\!J,;:et", SITE VAlUEIINDI(~I" l:I' MA!\r~l I VI'LiI' SUBJEr:rs IMPR(lVH"H.~j['S 1'(1r.Trll~r': T:' THf ITi ',Nfl Nfll;1iBORllno[, S!Jf' VAl 'I!. Ie 'r, lVd,ANr:l \1\11;" i HI. 'VFI..;" \':I\l'!>:: (,F; 'Iif SUBJECT'0 MARK!: Ilr,1 ,'RL' DATE OF SAu ADJUSTME'NT FOR liMl WAc:. Nll] F<E::(jIIIRE[) BASlD' IN MARKET I::VIDE:NCr ALL SALES Af~F RFFLECTIVE 01. [,lWRENI MARKI-T PRICF SALES USED WERE rONSlfJERET, THF BEST INtli~'A.Tl)R OF VALUF H-IE ARf THf MOST SIMILAR I<ND REOIJIREP lllf ILAS [ i\M(JUr~1 AOJUSl MENT I YF'ILJILl \ \lVHF.N TH[RF Ie; LIMITE!' C')MPAHABLf- SAl L:S WITHIN THE SUBJH.TS MARKET 1\[<[=11 , ,~f' f,PF'R^I~fP \".11' OlDFR SAI fS Wlif- 1,1 Nf-CFSSAf;'r ,~,"'m !JNAV()lf)ABLf CLlRRENT RESALE MARKEl IS S fM11 [ SALES PROXIMITY IU ":'UflJ[- ALL SALES ARF WlfHIN THE ~;UtJJt:I_T'S MARKflINl"; AREA ur.lESS OTHt.RWISF ~;l An(i IN((H'N IHIS REFiII"1 I Ht.;;,U..:i ,i,iLL' f,RL 'Hi. BEST COMPARABl~ 1(: T!lE SlJC\,lfL:T PRIJf-'ERI y POTENTIAL BUYt=R$ Wf)I:lD L:ONSIDHl fHf SAll::$ lISEli A~; AL H.RrMTlVLS'F fHI' SUBJECT APPRAISlR \NIl l USE SALf:::::: OVER THE: RECOMMENDfoDMllE VVHEN IJMITED COMPARABLE SALES ARl- AV/,llABI E \'v'ITHlr, CLOSER PROXIMITY T11 SUB-lEI:, AU_ SALES THAT Af:i:E USED ARr IN SIMII AR MARKElINC-; ^RFA.S, UNLESS ()THFRVVI~f ,'HT[[) W'lIHI-l REPORT ADDITIONAL (:OMMENf:;; i IN :::;ALI:~ I:CJMPARISON SE'LLl':RS 8. BUYERS ARE VERY INFQRMEli IN THIS DAY ANU AGE: SUE J'J 1 HE: INTERNE:T I-'.'JRI Ie RECORDS, Ml~ ACCESS f!-IAI DID NOT use- TO BE AVAILABLE rHE BUYER HAS PROBABLY SEEN MORE OF THE RECENT/AVAILABLE PROPERTY IN THE MARKET AREA THAN En-HER THE APPRAISER 8. REAl.TOR::;, THEREFORE MOST CONSIDERATION TO THE SALES PRICE or 1 HI:. RUYER GROSS AND NET ADJUSTMENTS AR!: MARKET EXTRACTFD AND ARE NOT CONSIDERED DElRIMENTAl TO OVERAll VALUE IN THIS MARKETING ARfA NOT ALL DIFFERENCES ARE RECOGNIZED AS PRICE INFLUENCING FACTORS (EXAMPLE SMALL PATIO/PORCH FENCING SI1E SIZE SMALL LAKE OR DRAINAGE CANAL) ONLY THOSE FACTORS THAT ARE ACCEPTED WARRANT "OJUSTMENT IF HleRf IS AN APPARENT MATERIAL EFFECT ON VAL UE1HAl THERE WILL BE AN ADJUSTMENT SOMETIMES IT IS NFr:ESSARYTO EXCEED THE RECOMMENDED AMOUNT OF GROSS/NET ADJUSTMENTS WHEN THERE IS LIMITED SALES WITHIN 1HE SUBJECT'S MARKETINGJ\REA PHOTO OF HOMES SALES ARE FROM MLS AND TAKEN WHEN L1STE:.O FOR SALE WITH REALTOR THIS IS CONSIDERED THE BEST AND TRUE PICTURE or COMPARABLE VERSES WHEN ArTER PURCHA~E IT 1$ TYPICAL OF NEW HOME OWNERS TO IMPROVl: ETe APPEARANCE I)F PRUPrRTY WHEN No MLS PICTURE'S ARE AVAILABLE rHAN PHOTU IS TAKEN AT TIME OF- APPRAISAL INSPFrTIUN 01-' SLlElJECT f->RCWERl Y PI I[ll IL f<f';\..lRDS AND REALTORS SOMETIMES HAW: DIFF[RENT PROPERTY INFORMATION SUCH AS liVING ^IR CONDITIONEn AREA ETe i\PF-'Rj,ISfR AFTER SOME"IIMES TALKING TO EITljE!~ REALTOR OR OWNER OF PROPERTY, WILL USF THIS INFORMAT!ONM AND THE BESl JIJDGEMENT FOR THE MOST CORRECT ANSWERS '10 WHAT MAY BE QUESTIONABLE TO USE IN APPRAfSAL REPORT ALL INFORMATION IS CONSIDFRED APPRAISER WILL TWICALL Y ALWAYS USE MLS SALES VERSED PRIVATE SALES WHEN EVER POSSIBLE, OUE 10 lACK OF INFORMATION FOR 1 HF PROPERTY SUCH AS MARKETING TIME, ARMS LENGTH TRANSACTION WHOHER PERSONAL PROPERTY WAS INCLUDED INTERIOR/EXTFRIOR CONOITlQN INCLUDING UPDATING, APPLIANCES INTERIOR DESIGN/APPEAL ANrJ l!Pr;RA[)l" ('NOTE ALL ELECTRONIC SIGNATURES ON THIS REPORT HAVE A SF-CURITY FEA fURl'. MAINTAINED BY INDIVIDUAL PASSWORDS FOk SIGNING FACH APPRAISAl NO PFRSON CAN At TER THf APPRAISM WITH TI-lE Fxr.!::rTlm~ ()f- TH[ ORIGINAl SIGNING APPRAISFRW ' --' '"~,~,~.'.",i.",'r",,,,'AC'l~,"""!""""o,';""" C;len DckE' I\,PI:""""ol\ Borrower: NfA ProoertY Address: 912 BE 4TH s~ Citv; BOYNTON BEACH lender: NIA I State: FL "01" E (Ie ~LQRIDA :!II- ~ I~~~; File No.. J0-8-1Q..09 Case No.: Zip: 3343S-S6Of .; t.:;j., ':d'! H:1~~:' :.~~~"tf<A~;;~11~;,'~i~;'tlr!:I}-":L1o.~:L'!i SEQn::,'r I". ~ \ ...... r.o 'll'i1a':m"~i:. " T", ";.,; _:S~.~_U.LtPJJ~:.!!!Jl.::"""+ Tll~ C!"fr:~FI.r:D P.E:S!~'F.:t.-:r ~...._ .t.. r.j... ):l1.;lM~ t;41~.... 11. C:a;:}:Tll-II:: t~n.QIltT '(:O~ s:rc:,'dt:~Qng D, fa':JJ.l";:::'C ,Pl, rE'o E'xpJ:rIi1!.lon J..".lH Uf.'.;,;,I ?C, Z'.)"]. I:'.flf,t, Gl.!-ro 1!"NN8"7;-; " H>ln~ ~JO'm' WA'l l{Cl:':~ ..'f'lH'lrl!:~ rl. l"i.fU nr:AI\:'..i,~ en I:? ~ Q::J\'~:P$:)R "~':"L~' ,,~_, "! '~"'PI: I! ~ ... ~R~3S ~. DRAG~ r.tC"::.TAFI:\" 1 I I i il " Ii Ii " !i 16095130TH WAY NORTH, JUPITER Fl 33478 ~ : I,' : J: ,~ c... I,! i l-~--::~:------ - -"_..~---------: I 'J~~~5. t,~~_ I ;1 i b0fwwl'" i.J i by~~jur.r?S.~I1~~<l_lli~l-' I ellV BUYNTON 6U,,-1 i lPnuer:N: - ,I. Ii' C'~!;:,", i: ii:i ?E::'~~;.::C 0: ::'"cU1?L.U::: ':;,eJ$!ir,.I!1 P.'f"O!("$:FUlf1C1. H'lgl J$ rn' ~ 0/ Rt'lJi Estat" Bpl~Illg \!~'I:f~.!'[. lfo:r;~!-.tlr:g, I aa.(j;(!>7! tH!d.ip;::r~u'!li !',lptn:!"~'~' C:...nGtUiy lloitlFiJ.'Huta R(~lE~c.u L.tmu. .IfC~!fI1gi E.::,.k1;!" Lt~~r;.~~ anA Ctrt{ud R~'!wnriA1..{..'j,"fralU' P::'O.F'E3S!DX.u. ErT:A:~;::>, ~~. "JI"'~ ~.~~'" ~ '''...._ ::~~i:Ew.(iB!.:r.:.i~ ::'Jt~~, l; ~ ~.t;:tfl~..:~ 3f;;i.~~:' ~~~:;; L ;.;~':~::il t~~~;~:; ?\;~::'~~""~~;:'.~;:~~;i,~ : ,:CJ~: ~_ :::-:: AB ~ . -:J':'':~~ H"'P,.w::'; P~:i?~;i.:,:,.;2 E',t-!: ~_:... G-l.E.{CAKE .wF~j..:zi..~...L:: :-e::1t.b-s:~K-::l:.~~t::1 A~:;.::-< : l..._ :'..tTifYYOF:1',:..JQT A~?)J~.l..l. ~ :.J.;:~ :O..L-u!:~r~,I ~F,~',--;; e~ .~:_, l.!._ 'l.-::E:' ~5,?~E;~E::-]' :::; ;-.[, ="'1" "/-;:):: :';,~ ~:~~;~;~~~~ ;,~~,~:_, :. ~ ~ '. :'_: -,~~~' ":0;':. ., ~ ~ : ;:.-:-;;~~;~: ' ".,~-,~: .; ::.'. ~ :.:~::.t.: ~~.:;:~",~-- C:",:/.- ..-. ~-., :::lir~';: F.~~ ~ Foe.:' t,.:.:.:: :'-..-:-~.; ;:~....~~F:~:: .~.:.."-:~;:;~~~"" ...!::~, T",~'::'...:L':;';;Y~,::---:~:L5~:; ~ :,~~:~ ..l.:~:''''''''.!'l~~'J .,~ ~~~~: ;:'~~;~~-:1. ~: ~:~~,..,~ ~ ,~: !.. .. "-;'!" ~~~-~ r .::~~ :. ~'~~:,t~~~~:J~~ ..:' ...-" .....,,~. ;,;'~'~ ~'Y".~--: :'..:~,:~' ~-~; -. . . t~~-~~ ;~~:~~:;-~.~~ :.-; ~~ ,;,; f~:;:;," ";.J'.1 /- .:.. l." ~'.; .~~ ~.;,; : : ~ . ..' ~: ;. . .~~ ,~.';:',:,-;: .-~....':'~ ; ;',;",'; ::;'~~~,C'::-Y..:.t: :...."::..:-~':-:~~ i::~~~\ ~~:~:-~~~~;. :. ~ ........~ . .', -- ~ -....-....- . ..~~ ~'~~, ",.; ::-:-'~=-:,: .~:~:.. ::~ :i-f~:;',i.~~.,~..,=::~.',;. t ~:: .,;."!...., :..,.,:t.r.~'~~~q.~~' .~.}\';:~' -.;~ ;,'~;~" '.~:t>: .~..:!.:-!- .~.:':''':': ~~ ~ :..I:' ::.-~, ~>-!-,~-:.; ~ ':', "~.. ".:.. ~: ~ '~'!:" ': ~~ .::'.I!!' :: ~::;::~:.~ ~~~ f'~"'f'~~.:'! :',.:ror ~:~ ~:'.. .\:::1~: "!'-: :" ~ .~... ~..~: :~~ t.;,:,: .:,~, ~ ::. "E :~:~; :-~!~:. F.t" ~'!'"'~~ :.~....~:.;.:.: ,~ :;~,~:::; .::.~ fr';;1: f.#~:: ;:-~ :';~ ; :-;":"_--;:I:";y.~~~ :..:.: ~: :.....~;." '.~.~. .:;-; :";. ~: ~:.;.-:-~ ~~ ~:rt-::"~ lo-I.:" :'I'-~ !:;::.. :'~~ :,!!!~::-:. ""!.,:;y--., :.~ :U.. :':, 'F~: ~"'~~ ~~",":'!" ,: .: ..~~ ~~;: t~.:-:-~lo r~.::-~~:.~ ;;- :--=-,-.-~.. :-" ~ ;'/.~~-" ;,,-. l't, ;irr:\-nr.l\ ~ 3 Ilt.: r ,~> r: 5:, -; :,'. .'.' I. J Itt: f.:r!. t. [!.r ~ '..~:' :f ;:rl-n:r. ,.~~-:": ;',-1< ~~~ ~-:'" ~ ....;: i I i I i I , ,I I , I .1 il ! Ii II ,I . ') 16095130TH WAY NORTH, JlJPITFR ~IJ147R Borrower: NIP. Prepefty Address: 912 SE 4TH 81 City: BOYNTON BEACH lender: NI/>. File No. JO 8-10-09 Case No. Slar€' F_ liD: 33435-5606 ~ Genera/Star. GENERAl. STAR NATIONAL INSURANCE COMPANY P,O, 80x 10354 Stamford, Connecticut 069(}':: - REAL ESTATE APPRAISERS ERRORS & OMISSIONS liABILITY INSURANCE POliCY DECLARATIONS PAGE Tnls Is I) claIm:; mooe .and reported QoliCY PI0a'5o read 1.\ih; polley and:.ll Of'IOOfS1!lmiOr'fts ~rid attachmtmtll cartlfully PlllICy Number: NJ1":"lI(J'}~ Ren(,Wdi of Numb.-<f NAMED INSUREO' MAlt INO AI1DRf$S (lkH ry...~~ 1(,<1'" IHhh W"l N,"I)' Juri''-'l J.J. U.t7i ",} POLICY PERIOO' 1"U~pfIOil D<c;h~ JIJ'L:.<l<:!{I{oS i ~t)jrMJ()11 D,..tl), 10.'00.''2009 lltI;';;lr\'l' 1 till ;j fll SI;'i"j,lrd Illt>l' ,11 lhl' r'r1illl'litJ ,,1(llli(''>~ ollf1u Nl1"'~Jd In>.utt-'tl 3 lIMli m UABI LIlY Each-CLajm: AH9rsg;;,til loclo; Bow I .1ll:ll~II'~ ~' \tlIl ~"\I $.1.OOH(1I1 ':,iI., /I Cl.I\IMEXPFNSFS: l< ll~'""" '>,:-"\!" Col',' L~,;' \II h~l ,,\.t. 5. STATUS Of INSURED. I ml'{If~li"lIl 6 DEDUCTIBLE:: F ,lr:tl (~I.'1llll J, J],<:: J(l.j,,~~.h': ~J-",'''''~ ~I 'i~I,"I'1 f.~(1 ,.. ',t;nl 'It>",,, ";'p',,., ~..' !",rt 'bl' U":". ,,,,,,j { lu;II<1; I:~l.rll...e. 7. PRIOR ACTS DArE. If a da'e 1$ Indicated, lhis inSUf,3w.:e ....'H nOI ap~lv iD any requlir ar.1 which occulTed before SlJC h dalt! Ht'~nOOIl error, omiSSIon or persol1.aJ il1jwy fl PRFMlllM '.'I,m: /,;111.,,,,,,,,111:"', I" U"n;;"",.j ,,"J <;ll'dl~'P.'~f(1 9. ENDORSEMENTS. TIlls policy ~~ mildI'! ;lA(j i1c.alpJt'rl ',uch In It11' PfllUNl rn'Il!J'{IOn~, 1I11Ili', nOII"C}' lOOP-film WII/1 the f1""n""l<;lons, ..tiplll~tIOfl''. ;llld ogl'l''C'I1II~rll<, nrnJ;Jlrtp.;i ii' 1fu.' f;11I',"Yirl'j fmWi'.l (ll 1,.tdn1',~'r!'II>rt\(..)< h~"""'.....l'tl' l".1~ ll:Qi2'~\Ol,I.;~J>._llf\_.'I._~Jtll. Im:.'l:.dl lM;-1'!,-2JlJ (lill2111J;j,1 tlS".I,) J'~ )'!511)1~'lI;!.~ 10. MANAG(~AGENT l'I~lbert H.! M1t1j iw.UI."lnCI~ ^ljl~r'l;'f, It\r 75 $('[;000 A'lIt!l1Ue, Sull(.' 410 Needham, M4~~jthus(>l!..., OZJt~)4.287{, ~ AlllI'llll'/N{ R~pr~'io(.'i:'\8\1""~ j'!<'c!UI:".,-{.'.II,k.!Y..IU:!ifl23<1 Did,' !rl'I~J?iWt'\ Cliu.~l"""c. -::-JI1:.H !'-oj".,:. (';SN t}(.. Rf }:(O /D31200:; { 16095130TH WAY NORTH JUPITER, FL 33478 Boynton Beacb Community Redevelopment Agency LOAN AGREEMENT Acquisition Loan THIS LOAN AGREEMEN'J ("Agreement") is made on August -' 2009 by ane between the Women's Circle, Inc., a Florida not-for-profit corporation ("WC") and the Boynton Beach Community Redevelopment Agenc)', a Florida public body corporate anrl politic created pursuant to Sectiou 163.356 F.S ("CRA "), WHEREAS, the CRA intends to ioan sufficient funds to th~#~aJJowing it to maintal/, offices in the Boynton Beach Community Redevelopment district. /j~: ':;:~;<'~':> THEREFORE, In consideration of the mutual agreemetit{ and ~~.6qA!nd subject to the terms and conditions herein contained, the parties hereto agree as >(jgo.r''l:!" "",. .'., "'<.;:'-~'>1>, The eRA shall loan to 1he;WC the, sum of One HUildred Thousand ~- ,- ~<~t,~~:,?:~ \ .,,' ",":.., :",. l'/ 2, Promissory Note, The Loan will be evidenced by a Promissory Note in the original -'.,,-;/, amount of One Hundred Thousand an~ ~Ofl00 Dollars ($IQO;OOfl.OO) and will be payable in the following terms:, ' . '0'-" ,.. ," ,>, ), Loan, ($100,000.00) Dollars. ,:\''"'~, '''"'~-'...,. 2,) Interest. This shall be an'inteiestlfeelq,an, ,\ .,.. " .\ ;' .,- ~- ' " 2,2 Maturitv;~The Loan shall 'b~c6frt~ du;'anij'~~yable at the time the any interest whatso~v~{ihth~1rooperty is corlY~yed or assi~ed by we I' ') . \ ' .'~ 23 4i~it)ment. ~e WC shall not\~'ave a prepayment penalty, ":::~,->~, ,:~' --', ~,., I;'" 3, 67Coilateral SiocUii'?',' Pa.yili~!it'Qf the Note shall be secured by a first purchase money m()fl~~obO;:ftf~te,al prop~lt): Iocated'iii 912-914 S.W. 4'" Street, Boynton Beach, Palm Beac},tf~~ty, FIOrid~~~,~,re p~cu)!lfly described as: ". ~ ~,)~?::~\ \.',; -t" "(S.i,'e, \,"~ See Attached 4. ~~Ilditions oJ~endinl!, The obligations ofthe CRA to perform this Agreement and to make the initffi'i.\1'!~r~an~~;rnder the Note are subject to the performance by the we of the following conditionSP,~ent: 4,1 "Loan Documents, The Loan Documents shall have been duly executed and acknowledged (where applicable) by the appropriate parties and delivered to the CRA by the we, all in form and substance satisfactory to the eRA 4,2 Covenant as to Use of Real Property, we agrees and covenants to that it shall resDict the use of the real property to offices for We. 43 No Default The representations and warranties set forth in this Agreement shall be true and correct in all material respect" and there shall not have occurred and be continuing any Event of Default Page 1 of6 5. Representations and Warranties. The we represents and warrants as follows: 5.1 No Default. The making and performance by the WC of this Agreement will not violate any provision or constitute a default under any indenture, agreement or instrument to which the we is a party or by which the WC is bound or affected, the effect of which will prevent the WC from performing the obligations of the WC under the Loan Documents, 5.2 Authorization. The WC is and will continue t?,:.,be a duly organized and vali~ly existing cOlyoration D?d~r the laws o~ the /~,t;ilte::,?! Florida and is duly quahfied to do busmess and IS m good standmg ,JWder the laws of the State of Florida. The WC and the persons executing th.(;U:i'an Documents on the We's /::.,.'" '~',,:,::,:if, behalf are duly authorized and empoweredt6:execu~(<:Ieliver and perform the D '" "co""";,, Loan ocuments. #. ',',. "':';;"". .;;'-~;'}.,. ;' ""'J,I:;- -i-----V' ~"'.;_'.">.~. . ',; ~i" ""lO'~m 6. AffIrmative Covenants. Until pa)'lJ)erit in full of the N~t~iii'unJess the CRA otherwise ~onsents in writing, the WC will pe$~#:!;:~ caus~>~o be perforrrl~~~!l"following agreements.,,,,.,, ,. "'~ ",.' ";>-?\/(;;/'-'~ ,j.;' 6.1 Notice of Change. The we will ~~,:~{~mPt written notice to the CRA of: ~a) the o~cUlTence ~f any~y~m"ofDefault; (b)'~l~ther matte~ which ~~s resulted m, or mIght res~lt In, a m\!te!}~"1W~,erse chang.e"\~f.~~,~anclal ?ond.ltion of the WC; (c) change m status Of'Q~'Fr.!>.p>~:~~,~otlce ,r"jjfty hen or VIOlatIOn. ""'I,, /. "< ..: ,':':' .,''''~ 6.2 Other_Jnformation. The /WC will, iilffiish to the CRA such other informa.l!t.;91il'COt1\Wn.'.'". ing the aff~ifs of the WC as the CRA might reasonably request,r "Z"i'i,:," .\ p'"..;,.... ""....." \.' .(/~'i~;Jli>t, l:','?Jt 'l \ /" 6.3 1'~SftiredrMU1'~.ce. The vJP~ilI continuously maintain in full force and "~,l'fff~igt polic'it.~~](:'tltlii~:c~1j2:IP;:1"jj<l public liability insurance in accordance with A;0j.tJie:~~~meriti:~f,~e Loan tJ6fuments. ,/;.)>e' "';<\';~~f"1~" "~"iJ'l,I!1). lC:J.~~h, Negativ~'J5~~~nant~:i1\e;we agrees that until payment in full of the Note, unless the t:RA~,~~y~s complian6~},i9 writ!Jli, the we will not create, assume or suffer to exist any security inlet~~, encumbran~~~or other lien (including the lien of an attachment, judgment or execution) secuu$g a charge Ill/obligation affecting the Property, excepting only: (a) liens created by the Loan Docu#l~Jl!s; ang/(6) liens which are being contested in good faith by the WC through the diligent prosecufiqj!~f,,1i'p~ropriate proceedings. ,(""",y }."-I;"'~ 8. Defaulf: The CRA may declare the Note to be due and payable if any of the following events occur and are not remedied by the we or waived by the CRA: 8.1 NonDavment of Note. The failure to pay within ten (10) days when the full loan amount of the Note becomes due and payable as set forth in Section 1.2 herein. 8.2 Other NonDavment. The failure to pay within any applicable grace period when due any other amount payable to the CRA under the Loan Documents. Page 2 of6 8.3 Breach of Agreements. The failure ofthe we to perform or ohserve an: agreement contained in the Loan Documents, 8.4 Representations and Warranties. If any representation or warranty m thH Agreement made to the CRA by the WC proves to be false in any material respec: at the time of the making thereof or if any such representation or warranty cease: to be complied with in any material respect which results in a material and aovers< effect on the rights of the eRA under the Loan Documents or which materiaH: reduces the va Jue ofthe CollateraL 8.5 Bankruptcv. The institution of bankruptcy, r,e,1~tion, liquidation 0' receivership proceedings by or against the we that'is not dismissed wiiliin SIXD ~"-0 . (60) days offiling . ',> ;'. j ',,:,::_-'1~ 8.6 Judgment. The entry by any court4 "1mal jud~e,!).t against ilie we Of which might reasonably be anticipated y:>)riati;rjally and adv~t~1'!y affect ilie abili!)' ofilie we to perform the WC's obligations under the Loan Doclji}je,pts, <"',~' "':i/::~,., '. ' ,. .,.', 8,7 Construction Liens. Thi-filli'li'of aJ1*;J>pnstruction li~l'is"against the Property that are not satisfied, released' odr~ferreli to security *ithin forty five (45) days of the filing o~,!he lien, . . >, , '. , ~ 8.8 Failure to pav tiu<es:' The, failure to 'I'~Y,l111Y and all taxes, special assessment, and or charger:iniposedby a governiiieiifal entity to avoid ilie tax, assessment or charge from b~';omingdelj~quent. ,.' ,-' /,' ,. -', 8,9 Di~;diiifidn ofthe Corpofation .,/-:'..~." .~ , ..,:\ ' /'-.:~ -) , 9. Reoi~df~~?"pn ili~t9bcurrence of an, Event of Default identified above and ilie failure of the WC to cur2'Q~81usei.t~ti?e" cured the sljIhe prior to the expiration of the time periods hereafter pro,~4~.~_,~dditi~~~i~Miioi~fi~N1a'nd remedies which the CRA might hold under the terms Qfaiiy"ere,:ortnqre oftqe,.'L.oan Dociiments, the CRA will have the following remedies: ,,/..,'..:" -;, ,,"", -'::""",'-, ro, <,; ,,< ,', '~" ".~." ^ (.:,,, 9.1 Ac~~l~:at~on:':R!~""CRA may, at the CRA's opti~n, decl~e ilie Promissory "'" Note to be I"iW11edtate!ydue and payable and ilie CRA will be entitled to proceed at ",',"1l'w or equit)(,:t? selectiveJy and successively enforce ilie CRA's rights under ilie '''.Loan Documents or anyone or more ofthem. '. .:';. ";'~;.. I,' '," ;,. ,. 9,2''''.,; "Sel~6tive Enforcement. If the CRA ejects to selectively and successively enfor~",',i:he CRA's rights under anyone or more of the Loan Documents such action will not be deemed a waiver or discharge of any oilier lien or encumbrance securing payment of ilie Promissory Note until such time as the CRA shaH have been paid in full all sums owing to the CRA. 9.3 Waiver of Default. The CRA may, by an instrument in writing signed by the CRA, waive any Event of Default which has occurred and any of the consequences of such Event of Default and, when so waived, the CRA, the WC and all oilier parties to the Loan Documents will be restored to their respective fonner positions, rights and obligations under the Loan Documents. Any Event of Default so waived will, for ilie purposes of this Agreement, be deemed to have been cued and not to be continuing, but no such waiver will extend to any Page 3 of6 subsequent or other Event of Default or impair any consequences of such subsequent or other Event of Default. 10. Miscellaneous. It is further agreed as follows: 10.1 Cumulative Remedies. No failure on the part of the CRA to exercise and no delay in exercising any right hereunder will operate as a waiver thereof, nor will any single or partial exercise by the CRA of any right hereunder preclude any othe! or further right of exercise thereof or the exercise of any other right, 10.2 Survival of Representations. All representa1:~"and warranties made herein will survive the making of the Loan al!dP the d'elivery of the Loan Docume~ts, but all represe?tations and warranlW'~e herein will terminate on payment ill full of the PromIssory Note. .'. C~1 '~~". /~". '<l ~4i~~ 10.3 Notices. All notices, requests aPd>de~ds wil{'b~:~iserved by certified mail, return receipt requested, as fO;19(8: '~)~"""'i;? Borrower: Women' s Circle.1;;~>. "'0;7' , j " \". '''-.,... With copy to: Arthur B.'i;I\~\lnei4a, Esq. 105 East P~ilneftbJi8tI<.Road ',1'\. "''''''.' "...:'1':' Boca Raton,~:r" ;<':~. \j" /..;>' ",/';' H'~','r /(:."'-:';":",,<,".'. ......, ',\~\,.(y;/ ~ \ /7 , ,. ....., '<':.r" dj/ /r>.;..-~ '''''-',':.'.'' ,!: Lender:'," Boy\!ton Beach C&inmunity Redevelopment Agency '("""" 91~J~outh Federal"~&!Jcway '<,.,.,,~9,:1P,\9?~.~ch, FL>>34~5 . /,:"'0\'"1>" ,.<t~:"LISlj,:!3,~ght;-.Executtve Drrector ..?t.7-"'-~-4.",~,:):~ ~),,~ '':'::::/.>.:'' "." 0';' ..~ />':"'" ":"'.'~ /J With c'OR~i~B: Do~1l1~J. I?pody, Esquire ~'. "'\ ~:!~)>j GO~~;::CHEROF, DOODY & EZROL, P.A. """--db. "'Yi~,~ 76 NF{Fifth Avenue ''<i~f~',>. \\\:~),Boynton Beach, Florida 33483 ~:\~. !~'helephones: (561) 276-9400 - (954) 771-4500 "it.}:;;"" Jf Fax: (954) 771-4923 ~~~:~~<j"Y or at s,Wother address as any party designates for such purpose by written notice. 10.4 Construction. The Loan Documents have been executed and delivered as an incident to a loan transaction negotiated and to be performed in Palm Beach County, Florida. The Loan Documents are intended to constitute contracts made under the laws of the State of Florida and to be construed in accordance with the internal laws of Florida. The we hereby consents to the jurisdiction and venue of any state or federal court sitting in Florida, in any action brought for enforcement of the Loan Documents, Except for tbe terms defined in Paragraph 1 of this Agreement, the descriptive headings contained in this Agreement are for convenience only and are not intended to be used in the construction of this Agreement. This Agreement may be executed in multiple counterparts, each of Page 4 of6 whieh will be an original instrument [)ui all !,j1 which will constitute one agreement. 10.5 Binding Effect. This Agreement will he binding on the WC, its successors and/or assigns. I; DefInition of Terms. As used in this Agreement. the following terms will have the meanings indicated: \1.1 Agreement. This Loan Agreement date( , 2009 entered into by and between the CRA, as Lender, and the WC. as Borrower, 11.2 Default. The occurrence of one or more. EVellts of Default, the faihrre of _'" "C";;_"," WC to remedy the same within the time prov,ided in..th)~'i\greement and the elec- tion by CRA to exercise one or more of CRA:'- remediesU#~e( this Agreement. ._<<;':~-' " " ::.,i,\:>-. 11.3 Note. The Promissory Note ir1;tIf~ face ;""ount of$100;~9!l~0, bearing the date of this Agreement to be executed :by the WCand delivered to'the, eRA. <!;,~.(,:':.:J~\)c /,]Dtt,+ ":':'>:-". 11.4 Loan. The loan is in the amounte~,~~~.O;OOO;OO to be made by the CRA to the we pursuant to the terms of this Agreement, . , .. ' . - " ",. 11.8 ., Lo~Year'" th~ perod beginning August _ 2009. ," , ' i' '" -1"":-; "rN.:WTNESS wHE~OF, t~~p~ies have executed and delivered this Agreement to be effective th'edllt<: fIrst above Written. -, " )' ',""', ,"'-.. 11 .5 Loan Documents.\;r;ti('iif~tqunents execiJt~~':ll!lP delivered by we to the CRA to evidence and securejJaymejli'of)ne Loan, inqliJding but not limited to, are: (a) Promissory Note; (b) First.:Purch'~~'1I:1'on"yM9.rl~age and Security Agreement; (c) Loan Ag!;e~IJ;!~nt; and othef te),,:ted loand~c;:;ments. /_;::0.':;"-'" ',>', ' \:~ ] ].6 //L,ender. '{lie, Boynton Beaqh Community Redevelopment Agency (CRA). ~"- " \ ' .., "Bi,;Aower/thl'"Women's elircle, Inc" a Florida not-for-profIt corporation '\(/':-'.~"~:e;;~~: _;~.~"":-"'-~;;c'''r_''- ' 11.7 (We). BORROWER: , "~, -' The Womeo's Circle;toe., a Florida not-for-profit corporation By: , President LENDER: Page 5 of6 Boynton Beacb Community Redevelopment Agency By: Jerry Taylor, ehairman ....'>--.., H:\2007\070473 BBCRA\Womens Circle!ne Loan\Loan Agreement.doc / "<.j, />, '1, /r:-"-'-.<:......, ' /,.' /':( , /~'\'h '\.~ < ' \. \. /~jo.-i,"\\ " ,,/,-':.> "-'" ,"" \" ", Page 6 of6 This fustrument was Prepared By: Donald J. Doody, Esqnire GOREN, CHEROF, DOODY & EZROL, PA 3099 East Commercial Boulevard., Suite 200 Fort Lauderdale, Florida 33308 Boynton Beacb Community Redevelopment Agency PURCHASE MONEY MORTGAGE TIllS PURCHASE MONEY MORTGAGE is made and enter~ this day of August, 2009 by the Women's Circle, Inc., a Florida not-for-pr<l~llf:Poration (hereinafter referred to as "Mortgagor") and the Boynton Beacb Commnniii"I~J;di\y~opment Agency, a Florida public body corporate ~nd politic created pnrsu~ntt?;gecti"gli~~~56 F .s., who~e post office address 915 S. Federal Highway Boynton Beagh;'J1L 33435, BOYl1-tl)ll Beach, Flonda 33444 (hereinafter referred to as "Mortgagee"). / ..,. '''i;~ WIT ~:~J,~ E T ~;,<:> '<<<1~, WHEREAS, Mortgagor has simultaneously h;f~~J!3f:'~~?c~ted, and delivered to Mortgagee that certain Promissory Note (the "Notefl)~daj:ed of even 'dij.te' ,herewith, in the principal amount of One Hn~~red Tbous~nd and 00/100 b~~i:il~~2~000.OO)v~)"~?le in accordan~e with the terms ~d proVISions ~ particularly ~tated there~.)l"?lc~1l!1:~ on ?r:~r(~re the Maturity Date set fo~ m the Note, which Note shall mc1ude any ml)j!jficatlo~f~'l(t'!ll(lslOns;'W 'renewals thereof, and, which Note, by reference is ma.d(t.,a.'!.;-f:~~)e.>.,o..fto th~~~.i~.~~)1i~ligli~Z,p,utin full herein. </:~\'":",, ,\,'~ ':'f: ....i't NOW, to sec.\#:fWe perfornii1ll~e and oBs"i!\yance of all covenants and conditions in the Note and in this Mortga~;;l~d in all o~#, instrnme~~~~ecuring the Note, and in order to charge the :;1~::din~~~::~~~@~~E~~~;)'/~~~h &~~~t,r50~;~:~~b~~~~~:c; MortgagCl~~::ijjll~!W~d fOJ\?)hlir valuable consideratIOns, the receipt and suffiCIency of which IS aCkno.?,:l'..!':.~.0..ild.~;.gl:d, Mort~9~\.".d..oesW~r..~~.,..y.. ~t, bargain, sell, alien, remise, release, convey, assi~, trans~~ij!Dortgage: hypolij~~e, ple,~~'!l\dehver, set over, ,,:arrant, and conirrm unto Mortgagee, ItS success~~~,~d assIgns for~<\~(~e MoflWiged Property descnbed below. ~,\." )~ TIlE MORTGAGED PROPERTY A. '~~O~GED PROPERTY: That certain tract of land located at 912-914 SE 4th Street, Boynton B1;~'FL 33455 (the "Property") and more particularly described as follows: See Attached Subject to the sole discretion of a majority of the Board of Commissioners of the Boynton Beach Community Redevelopment Agency, Mortgagor is gnanted an one time option to transfer the subject mortgage to another property located in the CRA district, owned in fee simple by the Mortgagor and equal or greater in value to the real property subject to this mortgage. B. TIlE IMPROVEMENTS: TOGETIlER WITH aU buildings, structures and improvements of every nature whatsoever now or hereafter situated on the Property, and aU fixtures, appliances, equipment. furniture, and properly of every nature whatsoever now or hereafter owned b' Mortgagor and located in or on. or attached to, or used or intended to be used in connection with the Property, or other Improvements. suen as, without limitation, all apparatus, machinery, appliances. equipment, awnings, and other fumishing;s, plumbing, heating, laundry, air-conditioning, lighting. and fixtures and appurtenances there\(] and all built-in equipment and built-in furniture. all extensions. additions, improvements. bettennems, renewals, and replacements to any of the foregoing or artiCle, in substitution therefore and all of the right, title, and interest of Mortgagor in and to any SUCI. property together with the benefIt of any deposits or payments now or hereafter made bv and/or Ie Mortgagor or on its behalf (the "Inmmvements"). C. PERSONAL PROPERTY. TOGETHER WITH a seCUrity interest in (i) all artiCles /~:' :""::','-' of personal property and all materials delivered to the property descrliJed in paragraphs A, B, and C ,-,,' :",-""\",<'~ hereof, from time to time, and owned by Mortgagor; (ii\:lJL ciintrilct rights, licenses, general tangibles, actions and rights in action, including all rights' to insw-im'c~ proceeds, and (iii) all proceeds, products, replacements, additions, substitutionS,}enewals, anct"~c~~~.~ions of any of the foregoing. Mortgagor hereby grants 10 Mortgagee ,!(~c!Jriiy interest in all ~~, rights in action and personal property described herein, This Mq-1~a.gg is a self-operative secunty"ll!!'eement with respect to such property, even though Mortgagor ~gr,~~.{O execJtlf~d deliver o.n dem~d such o~er secunty agreements, fmancmg statements and otller m,\~e9tS ~.may request m order to perfect Its security interest or to impose the lien her,e<)f more speciti6!llly IlP6n any of such property. Mortgagee shall have all the rights and remedies in .addition to those spec,ifie~ berein of a secured party under the Uniform Commercial eode (the "Code");,asit i$. agreed that thisM,Qrtgage shall constitute a Securily Agreement within the meaning of the Cod~, MC>~~l;lr.,.shall>itS1!/, time to time, on request of Mortgagee, deliver to Mortgagee an inventory of all iiueh :articles oP'personal property in reasonable ',-~, ,,' ,', ...,,',' '.', ':"",~ detail. Mortgagor cove~"f!~;~dT"presents'tlJllkil\lsucli pe~9i1al property now is, and that all replacements thereof, .stib~ifutionsiherefore'aDd. ,additions thereto, unless Mortgagee otherwise consents, will be fre,{.llrtd clear ofl stiperior libis), encumbrances, or security interests of others, '" ", .... . . Furthermore, in theEy~nt of Defallit"the parties agree that, in the event Mortgagee should elect to proceed with respect t6~i1i4pwp(rti#S:ffiider-tlJ, CoM; five (5) days notice of the sale thereof shall be reasonable,." '" '- ..' --, " , . 'TO HA VB AN)) TO ROLli_the same, witll the tenements, hereditament, and appurtenances therelm~O belonging unto Mortgagee', . ,--.., ,'" 11tJ:tREFORE MortgagQr covenants and agrees witb Mortgagee as follows: '\ -'~:" ), :: - . , ", " ]. - -Warranty of Title. Mortgagor is indefeasibly seized of the Mortgaged Property in fee simple; that Mortg;;g~r.):iiW,full power and lawful right to convey said property in fee simple as aforesaid; that it shail~e'lawf111 for Mortgagee at all times hereafter peaceably and quietly upon an Event of Default (herem~er defmed) to enter upon, hold, occupy, and enjoy said property; that said property and every part thereof is free from all liens and encumbrances, except from the current year's taxes which are not yet due and owing; that the Mortgagor will make such other and further assurances to perfect the title to said property in Mortgagee as may hereafter reasonably be required; and that Mortgagor does hereby fully warrant the title to said property and will defend the same agllinst the lawful claims of all persons wbomsoever. 2. Jaxes and Liens. 2.1 Mortgagor shall deliver to tbe Mortgagee receipts evidencing the payment of all liens, levies, and assessments for public improvements within thirty (30) days after same shall 2 become due and payable; and to payor discharge within thirty (30) days after the due date, any ane all governmental levies that may he made on the Mortgaged Property, on this Mortgage or the Not< or in any other way resulting from the mortgage indebtedness secured by this Mortgage. Mortgagoo shall have the right to contest the payment of ad valorem real property taxes pursuant to an ire accordance with applicable state and local law. Mortgagor agrees to supply proof of such contest tc the Mortgagee on or before April] of each year. 2.2 Mortgagor shall not permit or suffer any mechanic's, laborer's, materialmen', statutory or other lien to be created or to remain a lien upon any of the Mortgaged Property, but in said event, Mortgagor agrees to remove, vacate, or bond off any suc~~~~ within twenty (20) day' thereof. /,~,,,':.7 ,/!'I\ 2.3 Notwithstanding any other provision ofj:lJ,is Mpflgage, Mortgllgor shall have the right to contest any taxes, liens, and charges provideqJt'~t&eeds Witij1-c1-pe diligence and gives Mortgagee adequate insurance by bonding such disputedr]jeri's or by depositi;d'i1;,i!:he amounts of suoh disputed taxes or oharges with Mortgagee, which del?~~!~" amounts shall be 1-e$-J:Jed to Mortgagor, upon resolution of such oontest and evidence oL.M'qrt'gagor's compliance withZl;ljy" determination thereof. <<~;,':~ /0> ''"{it!:, <<,"!~ t1i':;~,/:{}'~';'> '':,).\.L<:i/ 2.4 In the event of,,1;he passage, a:ftl'f:.tlle'date of this Mortgllge, of any law ohanging in any way the laws now .iijf9{c",.[or the t,da\:iciu:, of mortgages or debts secured by mortgllges, or the manner of the collec~,oli'o:f'iiny, such taJie~;';~ as to affect this Mortgage, or 1,;'''''\ "",' ',::~"" \.', ::-":" im~sing payment of the wbole or any po$~n Of'-lI!?;.t(/lJ!;~~, aSse~~~nts, or other s~ar ch~ges agalOst the Mortgaged Property.:uPon Mortgljgee, the,.m<l~btedness seoured hereby shal] lIDD1edlately dl"':~"" ~.; :'~ ,.', '" "., become due and payable ~ttlj!',.9I'l"?!1?f Mortg~ge,e(::- .;> ,./>,',," ""; .,\ \::",;/ 3. Insurance: \"':\ \; \ ,'.' .. 'i """."\'.".1<'/, \','-'\ 3.] Mol'li~gor shlill:~aij)tain.prop~, insurance with a reputable and highly rated insurance ogWP!!!l~ or c15qip~~s:"jf~ensed';:h{F!grida and reasonably acceptable to Mortgagee, coverinl!,~;ii~tldili~~ urlPi;9Y~p1ents now or"'li~i-eafter located on the Mortgllged Property and all the EIj,Wiinfent and ~]~~gible 'p~i~?!lal property encumbered by this Mortgllge, for an amount not less4l.t(~e~ full insurdliij~\h~ue"-6~'l,\,.{;placement cost basis, without contribution or coinsurance (or WllliiR~,9msuranoe and ~~\agreed:,.amount endorsement), for the benefit of Mortgagor and MOrtgag~~~e.If.' ...in.. .terest s.~ \.~. ..~.'.~. ~.~ _appear, by policies on such terms, in such form and for such periods as Mortgage~~{ require or.Jpprove from time to time, insuring with extended coverage and broad form o?verage "~~ ~os~f"J~age by fife, lightning, fl?od, windstorm, hail, aircraft, riot, veh~c~es, explOSIOn, smoke, fil:1!W~h9"bJects, collapse, sudden tearmg asunder, breakage of glass, electriolty, sprinkler leakage, w~er'dilinage, earthquake, vandalism and malicious mischief, theft, riot attending a strike, civil commotioD;"war risks (when and if war risk coverage is available), and when and to the extent required by Mortgllgee, agllinst any other risks. Regardless of the types or amounts of insurance required and approved by Mortgagee, Mortgagor shall assign and deliver to Mortgagee all policies of insurance which insure against any loss or damage to the Mortgaged Property or any part thereof, as collateral and further security for the payment of the Loan. 3,2 If Mortgagor defaults in so insuring the Mortgaged Property or any part thereof or in so assigning and delivering the policies, at its option Mortgagee may effect such insurance from year to year and pay the premiums therefore, and any suoh sums advanced by Mortgllgee shall bear interest, shall be paid and shall be secured as provided herein. 3 3,:, If Mortgagee receives any money for loss or damage by reason of sucb insurance, then Mortgagee at its option shall retain sucb proceeds and apply them toward the payment of the loan (in the order of priority Mortgagee may deem appropriate in if s sole discretion) or disburse them to Mortgagor, under such safeguards as Mortgagee shall deem appropriate in its sole discretion. for the reconstruction or restoration or repair of the damaged Improvements, but Mortgagee shall not be obligated 10 see to the proper application bv Mortgagor of any such disbursemen. , Damage or Destruction of Property. If the Mortgaged Property or any part thereof is damaged by fIre or any other cause, Mortgagor will give immediate w9fi~n notice of the same, upon knowledge or discovery of same by Mortgagor, to Mortgagee. . 4.1 Each casualty insurance policy shall pro~idethat'i:\i~\Rroceeds of insurance paid on account of any damage or destruction to the Mortgaged ,propefty or anyp,!J11 thereof, shall be paid to Mortgagee. Mortgagor shall promptly deliver to Mortiag~e any Proceed~'~t1icb are paid directly ;, '.' '""-""'''''\.. to Mortgagor by the casualty insurance carrier of'b)' any governmental or(:<IlIasi-governrnental authority. In the event of damage or destruction.t4'the'Mortgageg Property or 1UiWRprtion thereof, whether insured or uninsured, or if any part of th;i~ort~aged ppjp~J1Y shall be phssj~lly damllged through condemnation, Mortgagor shall, as set forth ab,dv~, giv~ iriiinediate written n~ice thereof to Mortgagee and Mortgagee sball have th!( option, in it$ ~ole arid absolute discretion, to "=Pply any portion of the I'roc.eeds to the payrnent1\"f .1hdndebtednessevidenced by the Note, or to allow all or any portion of the Proceeds to be used f,;;;:p;e~i:estqf,!'tion, repaif, ,\,r replacement of the Mortgaged Property or applicable part thereof under s'\ip~'i'oiiilltiiit;s~ may be e:~blished by Mortgagee. '~'''~'''', ' \ '''1\ / ~:,"~,~,~,"'>,~~ ',>. 5. Mortgagee'iRifPl1t? Perform,UpDliDefaults -Of Mortgagor. If Mortgagor defanlts in the payment of any ta,,/~sesS:ment,):'!lcumbr)mc;~,'()r other impbsition, in its obliglltion to furnish insurance hereunder,O!: iiDthe perfont;lIwce or ob~;'rY~ce of any other covenant, condition, or term in this Mortgage, Morfga'g~~ may, at i~option, perf;\;Qi'or observe the same without waiving any rights it may have hereundei;',,,Bd,,all pa.\'P:leiiWIl;lade. (whether such payments are regular or accelerated -", ::,"~ ' ":...."'^'''"''",,,..,,': ',," "" "" ~, 'y payments)A~~~9.~t~ an~"~~e?~es incUITedo!p:~d' by Mortgagee in connection therewith shall becom:c.4~5~~d~a~~!:~, ~~!at~ly under the terms of the .Pr~mlssory Note executed by ~orrower. The l1J)tpunts so mcurr\;q,,?r paId by Mortgagee, together WIth mterest thereon at the 'maxunum rate ~enii1~~l"by applicable 'l~$,i&:om:tI1.~'~t~ incurred until pai~ by Mo~gagor, s~all be added to the mdebtedj\\i,~~ and secured bY"tjj$' hen o(thls Mortgage. Nothmg contamed herem shall be construed as requirIDg~~?rtgagee to ad~i!i?lce or. expend monies for any purposes mentioned. in this paragraph, or for any ollie~jR.urpose. Mqt(gagee IS hereby empowered to enter and to authortze others to enter upon the Mort;;li~~f;o~;~!~t' any part ~ereof for the purpose of performing or observing any such defaulted covenant,~conditj(>ns or terms, WIthout thereby becommg hable to Mortgagor or any person in possession holdin;;tlli}~r Mortgagor. 6. Event of Default. The term "Event of Default." wherever used in this Mortgage, shall mean anyone or more ofthe following events: 6.1 failure by Mortgagor to pay within fifteen (15) days of the Maturity Date or interest as required under the Note. Failure by Mortgagor to pay prior to their delinquency any taxes, assessments, liens, charges or any insurance premiums required under this Mortgage; 6.2 failure by Mortgagor to duly keep, perform, and observe any other covenant, condition, or agreement in this Mortgage, any other instrument securing the Note or any other instrument collateral to the Note or executed in connection with the sums secured hereby for a period 4 of thirty (30) days after written notice of breach. If the nature of the default is such that it cannot be cured within such thirty (30) day period, Mortgagor shall not be deemed to be in default hereunder so long as it proceeds in good faith and with due diligence to cure such default; 6.3 the assignment for the benefIt of creditors, or the admission in writing of an inability to pay any debts generally as they become due, or the ordering, the winding-up or liquidation of his affairs, by Mortgagor; 3.4 the commencement of a case against Mortgagor under any insolvency, banlcruptcy, creditor adjustment, debtor rehabilitation or similar !a,Ws;,.,state or federal, or the detennination by any of them to request relief under any insolvency,,!f#,~ptcy, creditor adjustment, debtor rehabilitation or similar proceeding, state or federal, includWg''Witbout limitation the consent by any of them to the appointment of or taking possession by a:~iv~tJyquidator, assignee, trustee, custodian, sequestrator or similar official for it or for any oJiit;'l:espective'w;?~~rty or assets, and such action is not discharged within sixty (60) days after co~~}cilment; or '0<8:~~ 6.5 the conveyance of any in~~either legal, eqUitab~\~::~llJ.lefiCial in the real property which is subject to the Mortgage. Cdn~~~ance of ~'jnterest shall in11@e, but not be limited to, sale, lease, entering into a Contract for De't;d;~';,>,./c;;;/ " ", ;\;,,:' .";,,.-' 7. Mortgagee's Right to Ifuter'll!ldTake Possessibn. Operate. and.Applv Income. Upon an Event of Default, Mortgagee shall hav~ i/ie:(9\19wing righis,~Q. remedies (but not the obligation) ,:,::.., '~", ',',.", '.~ ,.....,,{'\ available in connection with the Mortgaged.~openy::., .2>",. '''"y,>, \:'.;:'_ ><'~;~r:"', ~k;i""" '*.;('.1j;.~ 7.4 1\1.ofi~(jt;~upon dJ~~nd;<~f;M'o'~,'''shall forthwith surrender to Mortgagee the actual PJ;l~~~~Ori:lilidif and ta:ili~.~ktent permi1t~d by law, Mortgagee itself, or by such officers and a~cf~9\'ii:s it may 1*~foint, m~x"~rter and take possession of aU the Mortgaged Property, and may eXl;~p.g,~ Mortgag<!ffi:.ip1d its agent~!lPd employees wholly therefrom. "~!:/':'~~,:~ /:"~,,\,::.~'~:~,:~'::'~,~~~, \:\ ~.c<:Z,5, ]f:i\1i>tl~6rs1ili1j;f(ji,iiliY:re~on fail to surrender or deliver the Mortgaged -,"" ",.'"":--,,,-, ''-:';"''':-\",, ....,~.\ Prope~:,6~;~ypirittl1~1:eof a~(~ortgagee's demand, Mortgagee may obtain a judgment or decree confer!'i!1g,on Mortgagee :~!' right,#l,:Jmmediate possession of all or part of the Mortgaged Property to Moft~ee, to the entrY'of,'Which};jil~ent or decree Mortgagor hereby specifically consents. This ";.':'''~ ,..,:<::.<,1. ~""O',."" par~griitl~,'~".subject. to any't~~ d~feii~s that the Mortgagor may possess, and Mortgagor does not wlllve sucJj,4~f~nse m connectlo9 WIth thIS paragraph. ~<;:!:~~.:,'. /';:,~,:9 "'".(;q'", lVloft!l.iIgor shall pay to Mortgagee, upon demand, all costs and expenses of obtaining such jndgpj'el?('or'decree and reasonable compensation to Mortgagee, its attorneys and '<;_'''':i '..'-"," agents, and all such"<;Q$ts, expenses and compensation shall, until paid, accrue interest at the maximum rate permissible under applicable law and be secured by the lien of this Mortgage. 8. Mortgagee's Power of Enforcement. If an Event of Default shall have occurred and be continuing, which Event of Default has not been cured within ten (10) days for monetary defaults and thirty (30) days after receipt of written notice for non-monetary defaults, Mortgagee mllY, either with or without entry or taking possession as hereinabove provided or otherwise, proceed by suit or suits at law or in equity or by any other appropriate proceeding or remedy: 8.1 to enforce payment ofthe Note or the performance of any term hereof or any other right; 5 8_2 to foreclose this Mongagc: an;- 8.3 to pursue any otber reme<l\". legai and/or equitable, available to it herein granted and/or under applicable law. 9. Suits to Protect the Mortgaged Prooem.. Upon an Event of Default, and after the expiration of all applicable grace periods, Mortgagee shall have the power and authority, but not the obligation, to institute and maintain any suits and oroceedmgs. as Mortgagee may deem advisable: 9.1 to prevent any impairment of the Mortgageq<Prflperty by any acts which may be unlawful or any violation of this Mortgage., .-' . ',' '-.;,'::;''''"" 9.2 to preserve or protect its interest in the. Mortilt;g~ Property by seeking the '_ ,,' ",..,--1\< appointment of a receiver, Mortgagee shall have the right tq, apply for tIIe,1ippointment of a receiver /~- ';""" of the Mortgaged Property and the rents and profits thereof; 'and Mortgag~sbf1l1 be entitled to the appoinnnent of such a receiver as a matter of ripl;d;y~fuout considerati~Ii::,:p~::,.1he value of the Mortgaged Property as security for the amounts ~\ieMortgagee or the solvency"6f:any Obligor. To the extent permitted by law, Mortgagor hereby ~ai.fb~,any ri~t;f~.object to the ~)~intment of a receiver" as aforesaid and expressly consents that suc1!:"~PP'.liPtm.eht shall be made as an admitted equity and as a matter of absolute right to .Mortgagee; and. ' / '" i .. 10, Delav or Omission No Waiver. )\jo,:delay or 6mi~ston of Mortgagee or of any holder of the Note to exercise any right, power, ot,r<;!Ded~:a~inll up';n i#:Yfvent of Default shall exhaust or impair any such right, pow.~~',or remedy or,sjlall be)<;o,lt~~ed^to waive any such Event of DefauIt or to constitute acquiesc~p~,~(>ie:irl, Every"Dghy,:p9""er, 'and.remedy given to Mortgagee may be exercised from time to Jime ahd asoften as maY'-l'ec;1eemed expedi,mt by Mortgagee. I L No"Walver of One Default to Affect. Another. No waiver of any Event of Default hereunder shall extendto':9r affeCt!l!1fs~bse~l!~nt\it:any other Event of Default then existing, or impair any qgh~~;Jl.~ers,i:i#e6tedies conseque.!ltthereon. If Mortgagee: /'<.:;'(:L;~,~;':;::"~;;>, , . , /"" / 1 L I ,',( grllpts for'be~ance or an extension of time for the payment of any sums secur~c;1,h,(>reby; , . ""-., " 1].2 take~;fuer or additional security for the payment thereof; ,_\ i' "'il~~:, ":~~~ '~r does not exercise any right granted in the Note, this Mortgage or any other instrument~~~9!'fi':!gthe Note, '~).,i' 11 A '~e]ease any part of the Mortgaged Property from the lien of this Mortgage or any other instrument securing the Note; Dr \ 1.5 makes or consents to any agreement charging the terms of this Mortgage or subordinating the lien or any charge hereof, no such act or omission shall release, discharge, modifY, change, or affect the original liability under the Note, this Mortgage or otherwise of Mortgagor, or any subsequent purchaser of the Mortgaged Property or any part thereof or any maker, cosigner, endorser, surety, or guarantor. No such act or omission shall preclude Mortgagee from exercising any right, power, or privilege herein granted or intended to be granted in case of any Event of Default nor, except as otherwise expressly provided in an instrument or instruments executed by Mortgagee, shall the lien of this Mortgage be altered thercby. 6 12. Further Encumbrances. In the event any additional mortgage or encumbrance is placed upon the Mortgaged Property, payment of the entire indebtedness secured by this Mortgage shall be accelerated and become payable in full, at the option of Mortgagee. 13. Notice. Any notice, report, demand, or other instrument authorized or required to be given or furnished under this Mortgage to Mortgagor or Mortgagee shall be deemed given or furnished when addressed to the party intended to receive same, at the address of such party, and delivered at such address or deposited in the United States mail as fIrst class certified mail, return receipt requested, postage prepaid, or by hand delivery or expedited carp~F!fsuch as Federal Express) whether or not the same is actualIy received by such party. All n<}t\~~;g;ven hereunder shall be in writing and addressed as follows: /',c;i<t'", /" ""}' .";,\':'-"'",, <',"':::,/ '\,,!lif0 As to the Mortgagee: Boynton Beach eommuniJ~:.Redevelopm~,#t.{>.gency 915 S. Federal High%~y;.' '<Gi!0~ Boynton Beach, f:J::~;34 35 '''(;';0.. ..(!':::,::,':.;.;' ~', '<~t~ Attn: Lisa Bright,'E)C(;9\1tive Di.r<lci~r '*5~' \.:t ;'~,., "", , <:.:;- ',' '''~''" ,','. ) With a copy to: Donald ,. Doody, Esquif~'''. i ,.' Goren~Cii'i,'i'of, Doody & E'dol;.P.A. 76 NE FJiii'A{<~i1e. ' .',>. \;'-:,"," .......1<:',.,'^ "',:'" Delray Be~c'll~ F]ciridp..3~4.~? : . .'. ,,"""'.. ",\ J....''-:.;.'...." As to Mortgagor>(",c~,.o/?g'en's Cfr~1~J1'1S/ .....,,,; , ".,,/<;,~;:,.:>o ""-::,t.:::\ -.;<,:, ,.:t" ,c. f,,:.1'\:;,',!\, :, AttIi:.1 , P~#!p., ent "'. /. \ ';'. ,/:~,:':);":'/"..,,,:.: ,,'''':'? ";"::''!', \~(> Wj~~~!P?RY,t?: ..' .Afthur B.D'AIi!!~jd8, Esquire .;1~"~"'~?' . . ,'105 E Palmetto Park Rd Ai;:' \'i<'~>,' -'adea Raton, FL 33432 . <::;,.,::-;3''' "'''!;'>i-ft" '~"'r':,, ~o~:~~~\f~H:::~:~~~ :e~::: o~;y~;eS:~~i~:~e ~~::;::~~ a~~ s~~:i~~sSh:~1 ~~ Inmt or expan~1~~el'Wlse t any of the terms hereof. 15. ~iffi~M)ia~~ons to Affect No Others. In the event that any of the covenants, agreements, terms, ot'w<fvisions contained in the Notice, this Mortgage or any other instrument securing the Note shall be invalid, illegal, or unenforceable in any respect, the validity of the remaining covenants, agreements, term, or provisions contained herein and in the Note and any other instrument securing the Note shall be in no way affected, prejudiced or disturbed thereby. ]6. Governing Law. This Mortgage is to be governed by and construed in with the laws ofthe State ofF]orida. 17. Reauired Notices. In addition to any notice requirements contained elsewhere in this Mortgage, Mortgagor, upon knowledge or discovery of said event, shall notifY Mortgagee promptly of the occnrrence of any of the following: 7 17.1 a fIre or other casual,,' causing damages to the Mortgaged Property or an' portion thereof: 17.2 receIpt oj notice oj condemnation of the Mortgllged Property or any ponlOI thereof; 17.3 receipt oj notice from any government Dr quasi-governmental authorir, relating to the development. structure. use or occupancy of the Mortgage Property or any portIO! thereof; .' 17.4 commencement of any litigation affectin'g'ilie,. Mortgaged Property or au' portion thereof; or , , ,"., 17.5 the filing of any lien filed bfariy eontractor,cSllb:contractor, sub-sur contractor, or materialman providing materials and/or..se'rvjd~s to the improve~~qfofthe Land. 18. Compliance with Law. Mortg~g9r\~arrants BIi~;,represents th~l<.@ortgagor has complied, and shall hereafter comply, with all valid l~w,s" l1)Ies"otdinances, and regUlations of the Federal, state and local govermnent, amI. all agencies arid"subdivisions thereof which laws, rules, ordinances and regulations apply or rel~i:d'tbthe MortgagCl'd ,hoperty and the use, development and construction thereof and of improvements.p:q~,qr"here,after 10cateiNllereon or on a part thereof. \"' '\ ,,!, "'. "\ ]9. Attorney's Fees. As used m::tlus Mortgageari!i.all LQiili Documents, attorney's fees shall include, but not be,'liWi&'hto, reas~RabJe/fbes u:ri3tlrred"m all matters of collection and /"'i'('-j><.~:;""/:!'i1\ ,-";,'7''::','-',, ".,' enforcement, construc~~~/iind irit~{l?~~tations~ef?re, during and after suit, trial, proceedings and appeals, as well a~,~'pearances ufapd connecte1 With appellate, supplemental or bankruptcy proceedings, or crediiOrS',reorganizatioiJ' or arrangement proceedings. ',' ; >" / '--""i~ ,~,_~,_ ,,'; "', \ / ".~'" .....>.' 20. _ Venue, Mql,1gagpjiagree1i-tl"it}>~!i,lI Beach County, Florida is the proper venue for any an~'lln legal prqceedmg{iu-!sing out of this Mortgage, the Note and any associated loan docUJ;J;1etits' " '<~b,. Indemn.ifi~iiti~n. Md@agee is the lender only and shall not be considered a shareholdl\i;Jq,int venturer ol:,!fi!rtner of the Mortgagor. Mortgagor and Mortgagee intend that the relationship 'i#,~t~,d under thi~ Mortgage and all other Loan Documents are solely that of Mortgagor, and Mortgagee~\!'iothing,J{etein or in any of the Loan Docmnents is intended to create a joint venture, partnersl1:ijl,')"nili!cl in common or joint tenancy relationship between Mortgagor and Mortgagee, nor grani'to;~6rtgagee any interest in the Mortgaged Property other than that of creditor of Mortgllgee, it being the intent of the parties hereto that Mortgagee shall have no liability with respect to the Mortgaged Property. Mortgagor hereby agrees to indemnifY and hold Mortgagee harmless and defend Mortgagee against any loss, liability, cost or expense (including without limitation, reasonable attorneys' fees and disbursements) and all claims, actions, procedures and suits arising out of or in connection with the construction of the single family residence on the land. 22, WANER OF JURY TRIAL BY ACCEPTANCE HEREOF, THE MORTGAGOR AND MORTGAGEE MUTUALLY AGREE THAT ALL PARTIES HERETO DO HEREBY KNOWINGLY, WILLINGLY, AND VOLUNTARILY WANE THEIR RIGHT TO TRIAL BY JURY, AND THAT NEITHER PARTY, NOR ANY PARTNER, ASSIGNEE, SUCCESSOR, HEIR, OR LEGAL REPRESENTATIVE OF THE PARTIES (ALL OF WHOM ARE HEREINAFTER g REFERRED TO AS THE "PARTIES") SHALL SEEK A JURY TRIAL IN ANY LAWSUIT, PROeEEDING, COUNTEReLAIM, OR ANY OTHER LmGATION PROCEDURE BASED UPON OR ARISING OUT OF THE MORTGAGE OR ANY INSTRUMENT EVIDENCING, SEeURJNG OR RELATING TO THE INDEBTEDNESS AND OTHER OBLIGATIONE EVIDENCED HEREBY, ANY RELATED AGREEMENTS OR INSTRUMENT, ANY OTHER COLLATERAL FOR THE INDEBTEDNESS EVIDENCED HEREBY OR THE DEALINGS OK THE RELATIONSHIP BETWEEN OR AMONG PARTlES, OR ANY OF THEM. NONE OF THE PARTlES WILL SEEK TO CONSOLIDATE ANY SUCH AeTION, IN WHICH A JURY TRIAL HAS NOT BEEN WAIVED, WITH ANY OTHER ACTION, IN WHICH A JURY TRIAL HAS NOT BEEN WAIVED. THE PROVISIONS OF TIllS PARAG~ HAVE BEEN FULL:' A:,:;"','''' NEGOTIATED BY THE PARTIES. THE WAIVER CONTAINER~ IS IRREVOCABLE. CONSTITUTES A KNOWING AND VOLUNTARY W~~ SHALL BE SUBJECT TO NOEXCEPTIONS. MORTGAGEE HAS IN NO WAY AG~~p'~pR REPRESENTED TO ANY OF TIlE PARTlES TIIAT THE PROVISIONS OR THIS PARAGRAPH WILL NOT BE , "..".,....,,., FULLY ENFOReED IN ALL INSTANCES. -' , . '/'" <q~:.);, IN WITNESS WHEREOF, Mortgagor h!l$ e",eeuted thiS Mortgage as Dfith",. day and year fIrst above written. ,'" ,-/'>, '\:"'\' , " ;';./ ':J ,"., -''-'' .' ,. MORTGAGOR: ._ The Womell'.s Circle, Inc., \;';:;""<'a.F~!?rida notCfgf-:profit corporation \'.. "\1, "'''~'''' ':"~~'" ", ""'~~~\:~ " ',\ .',,'.', ) ""'.,,..~'~i'.-:':> \;,(;,<> \.By: ,President Signed, sealed and delivered in the presence of: / Print Name -' "'.'" .,.,,' \ :'. "',- ./.,/' '\ \ -- ':\ v'" \,;,,,,:;, \:- ,.." 'C.'_ :":" $i'~2D):!",;'C::, . Print NiUftev ""~:''{i'o, ~"'''(';:;7' ",,',.' ',1.. ,. :;~;7i">, "'{;l0,"" , ~';~'!~"::,~ \';.-:' :\ ' STATE O~~ORIDA \h COUNTY Oll',,;~ALM BEA!?a ,<:::z",/'i,J! ."\t"",~ 1',",";'\"/ The foregoing ins~~P"l;:$~s acknowledged before me this _ day of , 2009 by , Preslt'ellt of the Women's Circle, Inc., a Florida not-for-profit corporation, on behalf of the corporation, who is personally known to me or has produced Florida Driver's License as identifIcation. NOTARY PUBLIe 9 agreeing that said charge is a fair and reasonable charge for the late payment and shall not be deemed a penalty. This Note is prepayable in whole or in part at any time without penalty, Nothing herein contained, nor in any instrument or transaction related hereto, shall be construed or so operate as to require the WC, or any person liable for the payment of the loan made pursuant to this Note, to pay interest in an amount or at a rate greater than the highest rate permissible under applicable law, Should any interest or other charges paid by the WC, or any parties liable for the payment of this Note, result in the computation or earning of interest in excess of the highest rate pennissible under applicable law, then any and all such excess shaQ, be and the same is hereby waived by the holder hereof, and all such excess shall be automatically cr~dil;ed against and in reduction of the principal balance, and any portion of said excess which exceec!~ ,the P~2ipal balance shall be paid by the holder of the we and any parties liable for the paymell(o{tJi~.Joan made pursuant to this Note, it being the intent of the parties hereto that under no circl;!!TI~Res shalr~e WC, or any parties liable for the ~ayment hereunder, be required to pay intereJf"'~e!f,cesS<9.r the'~~est rate permissible under applicable law. ~pv "<\ 'C, '<c-" . This Note is t? be construed accord~~"~~~e apPJi~able laws 0: ~:t;~~,,~tFIOrida and the Umted States of Amenca and venue shall be m Palrll~!"ach :O?unty, Flonda. 2:,,' '\!;, ~" '."U" " .".., ,.,,;~1'~, ~";',:;;>; , ~ ''.; . /. . :':,<'). ,The Women s C....c1e. Inc. , ,/ \', "~.'~' '\'>:', \"., \''J ',"", ~,', A"" :. -":~ <: _:',;r;:;'~ /" ",' <:, Preyiciellt \i\ /;;')D?~~" By;' ., H:\2007l070473 BBCRA\~::~brCle Ine J~\"OmiSSOry :~~doe '~(<~:i2:c:-;:::c,::::>,;; "., '..., """0,,- '<':;{"'A'^ ;1]7 Page 2 of2 Boynton Beach Community Redevelopment Agency PROMISSORY NOTE Acquisition Loan $100,000.00 Boynton Beach, Florida August , 2009 FOR VALUE REeEIVED the undersigned, the Women's Circle, Inc., a Florida not-for- profit corporation (hereinafter the "WC"), promises to pay to the Boynton Beach Community Redevelopment Agency, a Florida public body corporate and politic created pursuant to Section 163.356 F.S., (hereinafter the "eRA"), whose addtess is 915 S. Fe4eral Highway, Boynton Beach, Florida or such other place as the CRA hereof may, fr2~~"to time, designate in writing, the principal sum of One Hundred Thousand and 00/1 00 1*19~~000.Ob).DoDars, the aforesaid principal sum as hereafter provided to be paid in lawful m~nW ofil!~ UniWd States of America, which shall be legal tender in payment of all debts and dues, pl;!blic~d pri\i~, at the time of payment as follows: /"";":::'" , \\t\, /:<~" ":>~;;' '~; \<~~t;~, This Promissory Note (he~einafter th.~~,-!!ote ") shal~ n~t accru,: inti!l:;f!Zt. Th:; N~te shall be due and payable m full on the i!at.~ the ~c:;: s mterest m the sl'!g!t{!famlly , " ',:, ", "''-:,>':'<~ or Property (or its benificial interest in al!.or Plit:1 of the Property JAiS,'sold or ""I, ,"'::r'" r,I,-,"'p: otherwise, transferred The"date of closing,"sfflJing'or assignment of the we's interest shall be considere~'th"'e#aturity Date, "c'", (Y \""'-'.'<'..':;, It is hereby agreed that if any p~ke~'8f;principal is ~'Ot!IDll~e:'within fifteen (IS) days of the ~aturity Date as above/.~,f\?Z'~; c:r. in tlle<~vent/~$:~!!ltbe ma4~;Jhtlte performan~ or compli~ce WIth any of the covenants.and"condltions of anY,secnnty 'agreement now or hereafter m effect secunng payment of this Not&'Rlr upon anl'Mefault in '\}iipayment otiiliy slim due by WC to the CRA under any other promisso\if~a~ security\jnstnunent &,other wriWfn obligation of any kind now existing or hereafter created; or upon 1l!.e insolf!W.Qy" bankru~ or.dissolution of the we hereof; then, in any and all such ev~~e';,~,lt.we a;i\'O~fjjf'priiici~~~f !WtN'ote with all interest then accrued, shall, at the option P$i1b"e holder of~ Note<llnd without ftoti@,(the WC expressly waives notice of such default), be~om€'8ff~ib.e d~e and C'01!~ctib~~~e being of the essence of ~s Note. If this N~te sh~ not be pllJd at the Ma,tprity Date or'l19cordmg;t!ec:the tenor thereof and strictly as above provIded, It may be placed in the hlffi~ of any att6wey at J~)V'for collection, and in that event, each party liable for the payment thereof, as"~, endors'i, or otlierwise, hereby agrees to pay the holder hereof, in addition to the sums above statedi':!!,.,reasonap!e sum as an attorneys fee, which shall include attorneys fees at the trial level and on appeal}\wge\!ier with all reasonable costs incurred. After maturity or default, this Note shall bear interest at t!j1;1l1~est rate permitted under then applicable law. As to this Note and any other instnunents securing the indebtedness, the WC severally waives all applicable exemption rights, whether under the State Constitution, Homestead laws or otherwise, and also severa11y waives valuation and appraisement, presentment, protest and demand, notice of protest, demand and dishonor and nonpayment of this Note, or any payment hereunder, may be extended from time to time without in any way affecting the liability of the WC, Provided the CRA has not exercised its right to accelerate this Note as hereinabove provided, in the event any required payment on this Note as hereinabove provided, in the event any required payment on this Note is not received by the CRA within fifteen (15) days after said payment is due, WC shall pay the CRA a late charge of five percent (5%) of the payment not so received, the parties Pl!ge I of 2 Boynton Beach Community Redevelopment Agency HAZARDOUS SUBSTANCE eERTIFICATE AND INDEMNIFICATION AGREEMENT This Hazardous Substance Certificate and IndeUUlifIcation Agreement (the "Indemnity") is made on this _ day of August, 2009 by the Women's Circle, Inc., a Florida not-for-profit corporation (the "We") in favor of the Boynton Beach Community Redevelopment Agency, Ii Florida public body corporate and politic created pursuant to Section 163.356 F.S. (the "CRA "). R E C I TAL S: "'" /;,l,U,Ji{\~>.:,~:,;, The WC owns certain real property in Palm Beach eounty, .F~(ffida (the "Property") which is more particularly described as follows: /' ';')::::! "'-'.';, :-.:\~ See Attached '.. Ai ,,6:i>. ;';':"\.".. a}:' "~ ~;,~,i.:',>,\ The we has applied for and obtained appwy~l from t1;te CRA for a f6~:~erewith in the principal amount of One Huudred Thousand FivecBqp~~ andj~01100 ($l00,OOOi(jg}'DoUars (the "Loan"), which Loan is evidenced by a ~romissory NOtli,~h~5~h'ai4?een executed!simultaneously herewith by we (the ''Note''). The Note IS secured by a Purcljase Money Mortgage (the "Mortgage") '\,..,',,1.... encumbering the Property and other docume!!j;s evidencing and!i:!(~~curing the. Loan and executed and delivered to CRA in connection therewith (c<>llec1ively the "Loan~DoC!Jments"). ',<(:~:~,<,~~:(,::~~,t":"~". , '<\::~~?1' To induce CRA to make the Loan to wr;;, WC(the.\'~demnitor") is executing and delivering <." "'",."" ._, 6 this indemnifIcation Agreement; and CRA h~1eq1l6stedt4is).ndemnity as a condition of CRA's entering into the Loan tran~(SE?lih\ ' ,:/i \ NOW THE~~:'~~~ideratiOn o~~.!llu,tual ~venants con1ained herein, and for other good and valuable consid~#on, tJie;receipt and ad~iiacy of which is hereby acknowledged by all '<"!;;::'i)~ "":'!-'''i!!''::i:'-.~ /' parties, the parties ~ereto a~~i~;:tblIo.wJ;;'""',,,,~f /G~hi?;"?"":~\. ':'~:,:>~: ''"'''.'~,t:i2-i~ }.(' Recitiits.:~~rmitiojj~:;,,,. ,~./i:';:,:t\';~{<>:, "'~.J:';:,~,:,,;f' The"pamll~)lgree the recit81~ijre true ~d correct, and the recitals are incorporated herein by this reference. 'A!i'e~hibits attach~d'fereto''Or referred to herein are hereby incorporated by this reference. The tenn "H~~~S. subsJci~s" means and includes, without limitation, any toxic or hazardous substances or mat~H!il~.'dJ,~fr6Ieum or other pollutants and substances, whether or not naturally occurring, including, ~~out limitation, asbestos, radon, and methane gas, generated, treated, stored or disposed of, or otherwise deposited in or located on or under the Property, including without limitation, the surface and subsurface waters of the Property. For purposes of this Indemnity, "Hazardous Substances" shall also include any activity undertaken or hereafter undertaken on the Property which would cause (i) the Property to become a hazardous waste treattnent, storage, or disposal facility within the meaning of, or otherwise bring the Property within the ambit of, the Resource Conservation and Recovery Act of 1976 ("RCRA"), 42 D,S.C. 690 I et seq., or any similar state law or local ordinance; (ii) a release or threatened release of hazardous waste from the Property within the meaning, or otherwise bring the Property within the ambit of, the Comprehensive Environmental R~nse, eompensation, and Liability Act of 1980, as amended ("eERCLA"), 42 U.S.C. 9601-9657, the Superfimd Amendments and Reauthorization Act of1986 ("SARA"), or any similar state law orlocal ordinance or any other environmental law; (Hi) the discharge of pollutants or effluent into any water source or system, Page I of6 or the discharge into the air of any emissions, which would require a permit under the Federal Water Pollution Control Act. 33 U,S.C. 125] et seq., or the elean Air Act, 42 U.S,c, 7401 et seq., the Toxic Substances Control Act or any similar state law or local ordinance; or (iv) any substances or conditions in, on, or under the Property which may support a claim or cause of action under RCRA, CERCLA, SARA, or anv other federal, state, or local environmental statutes, regulations, ordinances, orders, decrees, or other environmental regulatory requirements relating to health, safety, or the environment (collectively, the "Statutes"), including the presence of any underground storage tanks or underground deposits located on the Property. Indemnitor assumes all obligations of compliance with all environmental requirements related to health, safety, or the environment imposed by federal, state, and local authorities that affect the Property or any business or other activity co~sJj1cted therron or therewith. ,('t.', 2. Presence of Hazardous Substances. / ,"" , Indemnitor has no Irnowledge after due investigation of (i) thepr~sen~'e?'()f:\1PY unlawful Hazardous Substances on the Property, or (ii) any spills, releases, disch!!fll~s,'a1;, dispo~ti?~~ardous Substances that have occurred or are presently occurring on or onto tj-lt{Pfoperty or any adja~'9,tProperties, or (iii) any spills or disposal of Hazardous Substances that have; occurred or are preserij,ixfb~urring off the . . /.: ,'-, ~,-, <:':"';";~ ~? Property as a result of any constructIOn Dr operatlOnailq\iJ;e of th",:Property. '<!!!""~,, "!""'., . '-", " )>'" In connection with the construction on or operation and use' of the Property, Indemnit~r represents as to it's contractors, subcontractors, and any oth'l!of it's agents, employ~s and tenants that, as of the date of this Indemnity, it has no Irnowledge of any l:ailip"r,!g comply with allAjpplicable local, state, and federal environmental laws, regulations, ordinancestang,'iidr11inistrative aDclj\1,dibial orders relating to the generation, recycling, reuse, sale, storage, \h~dling;; l:t~~port, ~ii" disposal of any Hazardous Substances. '\ / . <..-:00' __...>,: '';' 3. Future Piesend';ofHazardous SJb~tances. '" - <" Indemnitor agrees t6'illim~.diately nbrlfy the eRA if Indemnitor become aware of (a) any Hazardous '.':',' :', I, """, , ~;'/ Substances or other envirolnnentalPr,?bleID()I:Jia~ilitY with respect to the Property, or any adjacent property, or 9!~~li~'1",~ction; <,>rnpticeOf the itliiTIre described in paragraph 2 above. At its own cost, Indemnito';:wilJ take'all;*ehpns whichllfe necessary or desirable to clean up any Hazardous Substances affec~~il:he Property, "irl~I~,~ing r(;l1!t;y!!-I"containment, or any other remedial action required by appli€l\bleJg()vernmental or''fe~latory al!thorities. ",,,',,! \ "..\. 'ql.:'~;'~ih:, , . . \":~ 4. '\dndemnzficatlOn: "~Q:~~tl" /:>; Indemnitor herebY"<'~s,(Jointly and severally, unconditionally, absolutely, and irrevocably, to indemnity, defend, ai1~,~(;'m harmless the CRA, its affiliates, successors, assigns, and the officers, directors, employees, 'Wd agents of eRA, against and in respect of: (A) any loss, liability, cost, injury, expense, Dr damage of any and every kind whatsoever (including without limitation, court costs and attorneys' fees and expenses) which at any time or from time to time may be suffered or incurred in connection with any inquiry, charge, claim, cause of action, demand, or lien made or arising directly or indirectly or in connection with, with respect to, or as a direct or indirect result ofthe presence on or under, or the escape, seepage, lealmge, spillage, discharge, injection, disposal, emission, or release from, the Property into or upon any land, the atmosphere, or any watercourse, body of water, or wetland, of any Hazardous Substances including, without limitation, any losses, liabilities, damages, injuries, costs, expenses, or claims asserted or arising under the statutes, whether now known or unknown, including without limitation: Page 2 of6 (I) any costs, fees, or expenses incurred in connection with the removal, encapsulation, or other treatment of Hazardous Substances from or on the Property; (2) any Joss or damage resulting from a loss of priority of any of the Loan Documents due to the imposition of a lien llgainst the Property; (3) any attorneys' fees, engineer's fees, and/or charges of any contractor or expert retained or consulted in connectio~with any inquiry, claim, or demand, including without limitation 8lltJ~ incurred in connection with compliance with such inqu~~~im, or demand; Ai'''<i'.~, (B) any loss, liability, cost, expense, or d~ge (riI.~)\:I,4ing without limitation, attorneys' fees) suffered or incurred as a result of or arising/o~~?fbr in co.ih~'.\,i,q,n with any failure of the Property to comply with all applicable environme?\1111ii'dtection laws>'O~~w,ances, rules, and regulations relating to health, safety, or the environrnel\t;')fud any litigation, proceediri~'?r governmental investigation relating to such compliance or non-cOlhpiilince; and",'" "ii~f;> " '\'<:\~.); \,~~,)>:}~\, ii~' (C) any loss, liability, cost, expense, o'r dl!hiage directly or indirectly arising from any claim, action, demll!'d, cause of actioll,,,~r damage relatirig~&q! in connection with any personal injury concerning or relating to the presencepfllSbestos or other :if_dous Substances on the Property. . \~~~~lZ('),~.,~~. "'~"<:';'::~,;,,:,?.;::;. 5. SurvIval. \\, -"<,~,I:'c.~;,'~~""",,. )", \'h " /f;':-<~(:~ ';'>~~j' (,'" Th~ pro;isiot\s of and unqi'~~~, and indem1~~~Bon set';6!~tin this Indemnity sha~1 survive the satisfaction and release Qftlie Mortgage and the ~er Loan Documents, and shall contmue to be the personal liability, o~(~~9~: and md~mnifIcation ~1,,~.~, Indemnitor, binding upon the Indemnitor, forever. "":", \:;: ).'? ':<:':.:;~~4;2i:::i:':;;,~~,:~T':!:- ''',-':''-'~-::~/ This Inde~P~%\%$2~ontih~.i]1,g,;. irrevocilb]~,;and binding on the Indemnitor and its respe~tive succesSO"l'!'lfua asslgns4~? shalh~,~f' to the benefit of CRA and CRA's successors and asSlguS. Inde~wts obligations~ne-~under tn:iY'nqt be assigned. The dissolution of the Indemnitor shall not affecftJji~~Remnity or anY~~~de~ii~;~ obligations hereunder. '-'Z;",> ';(itl' The represen1lrtf611s, warrantiegtand covenants of Indemnitor set forth in this Indemnity shall continue in effect and, t~ffi~~,~lf1ent pe$ltted by law, shall survive the transfer of the Property pursuant to the foreclosure proce.;a:mg$.(wQ~1lrer judicial or nonjudicial), by deed in lieu offoreclosure or otherwise. ~,":""'O"Ji'" i,.,i\':JY '~jf; 6. indemnIfication Procedure. Indemnitor shall notifY CRA promptly upon receipt of any inquiry, notice, claim, charge, cause of action, or demand pertaining to the matters indemnified hereunder, including without limitation any notice of inspection, abatement, or noncompliance, stating the nature and basis of such inquiry or notification. Indemnitor shall promptly deliver to CRA any and all documentation or records as CRA may request in connection with such notice or inquiry, and shall keep CRA advised of any subsequent developments. CRA shall give written notice to Indemnitor of any claim against CRA which might give rise to a claim by CRA llgllinst Indemnitor under this Indenmity stating the nature and basis of the claim, the amount Page 3 of6 thereof, and reasonable best estimate oflbe amount of tile IndenulItor's liability to eRA in connection therewith. If any action shall be brought against CRA, then aher CRA notifies Indemnitor thereof as provided in the above paragraph, Indemnitor shall be entitled to participate therein, and to assume the defense thereof at the expense of Indemnitor with counsel reasonably satisfactory to CRA and to settle and compromise any such claim or action; provided, however, that CRA may eject to be represented by separate counsel, at CRA's expense, and if CRA so elects. such settlement or compromise shall be effected only with the consent of CRA, which consent shall not be unreasonably withheld, Indemnitor shall make any payment required to be made under this IndeFJ;~Pwmpt1y, and shall make such payment in cash in the amount thereof In the event that suc~hpaYment is not made forthwith, CRA, at its sole election and in its sole discretion, may proceed to $ilit'./igainst Indemnitor. " :)1-," 7. Conflict With Loan Documents, The provisions of this Indemnity shall govern and contr6i6ver any inconsistent prti~j$ions of any of the Loan Documents, including without limitation, anl<lxyu1patory o}i~on-recourse Iwlfc\~i'provisions or limitations under any guaranty for the Loan contamed in aily ofth~ t'ilr,egoing agreem),;nts. ',,' ",",^ ~/,;'" " 8. Attornevs' Fees. If at any time or times hereafter CRA employscotqtseJ fpr advice or Dther~resentation (i) with re~ect to this Indemnity, (ii) except as otherwise 'expressly' provided her~in, to represent CRA in any negotiation, litigation, trial, appeal, bankruptcy; f>9ntest; disPl!l~,sl\i!; br proceeding (whellier instituted by CRA, Indemnitors, or anYiO'tl!e{ party) in an)(way or resp~c~ielating to this Indemnity, or (ii) to ,{'>;".'. '::' ';':',~ ,.. .' ':'" enforce Indemnitors' obji!1;atJoilsHej'eunder, then, 'i!)any of the' foregoing events, all of the attorneys' fees, paralegals' fees,,!iiii\l, assistan1i>f'l,'ees, and exp);~~es arising from such services and all expenses, costs, and c,harges iI{,iuij~);(?~ res~i?~~ arising in cOnI?~cti~n therewith or ~elating the~eto shall be paid by Indemnltors to CRA, on<d~lJ!~d.LY;]l"ethe~,Qr l).,<J! SUIt IS brought, or if brought, IS prosecuted to judgment. .-'~'- " i, c,,'" . 9; Waiver:' . . " I' No consentql"~,~iver, express\,9:'pr implied, by a party of any breach or default by any other party in the performance' !jyc tllat other pa;tY! of its obligations hereunder shall be deemed or construed to be a ""',:"1', 1,'/ consent or waiveitp:~y other{1jreach or default in the performance by such other party of the same or any othe~ obligatiOiij(iJf~~ck\6ther party hereunder. Failure on the part of anyparty to ~omplain of any act or faIlure to act ofllJlq):her party or to declare that other party ill default, rrrespecltve of how long such failure continues",sh'all not constitute a waiver of such party of its rights hereunder, Indemnitors' obligations hereunder shall in no way, manner, or respect be impaired, affected, reduced, or released by reason of CRA's failure to delay to do Dr take any of the acts, actions, or things described herein or in any of the Loan Documents. ] O. Deliverv of Notice. Any notice required to be given hereunder shall be in writing and addressed to the address set forth above, and shall be delivered by hand, by United States certified or registered mail, retum receipt requested, or by overnight express delivery, Notice shall be deemed received on the date of receipt if delivered by hand; on the day after delivery to an overnight express delivery service, charges prepaid, if Page 4 of6 service is by overnight courier; and on the third (3rd) day following posting if delivery by United States mail, at the addresses set forth in the preamble of this Indemnity, or at such other addresses as the parties may respectively designate from time to time and give notice ofto the other party pursuant to this paragraph. 11 . Governing Law. The provisions of this Indemnity shall be governed by federal and Florida law, as applicable. 12, Separate Covenant. /., [j",." //,;~~r -,~,,,~ Indemnitors acknowledge and agree that the covenants and obligationsJifreunder are unsecured and are separate and distinct from its obligations under the Loan and the ~~faii'B~~uments. ",r "'<i ',b" '\"'.: ';'-h:c.7?, 13. Severability. /"" "~ "'qJi;]l.; ",/..'.,....,,:,.,, '~":~~':,:~ In case anyone or more provisions contained in this :[pa~~ity s~all, for any ~i1iqjj'j'~~ held invalid, illegal, or ~enforceable in ~y respec~ such inva1i4itY;'~r~~~' o~:nfon:ea?ility s1tfJPlftaffect any other prOVISIOn hereof and thIS IndemnIty shall be cons1iued as If such I1!valId, illegal, orunenforceable "';,' " ," ,. 4' provision had not been contained herein. ' . 14. Entire Agreement. \'>""".'>,,~, \~:~>':':"__:;/";:--:"~"" ' ''-'' :>71-'" This Indemnity contains the entire understand$,g aiiiorig'~e'Rarties an4,shpersedes any prior written or oral agreement between them respecting the;\~ubJeftt"mil~r:~ffti1is Indemnity. There are nO representations, agreemen%"lli'j'i!11g;~ments, or una~~dings, 6~1-& written, between the parties hereto relating to the subject ll)~fofth!~ ~demnity wlhR:h are not frilly expressed herein. /{:;-.:;:\, '"\. ,'~ \\ Constnicti?n~ ,i~., \V" '-"< ,7"'",:.1;>"" ""...', ':.c,,:~,.~:.,.....:::-:,,~.:J,' The s~tio~~~J!f~,f;~~ions;C!!,;aR?reviations'i!" used for convenience only and shall not be resorted to for mterpretatton of:th!s';,jpdemmty:" t1t~ ""~~~!i~:\ "~<.;'!:',~:~,,~;.:;'- ,{;"<11l;,.. WAIVER OF'JURY TRIAL. "~"i':"\. ";,,,.~ ,,' '('I,F,,,',,\ ':~,:\i(-, .:r >,'';''"ll), \i'.:,,:,~ BY ACCEP~~,f HEREO!i';.,;INDEMNITOR AGREES 1HA T NEITHER INDEMNITOR, NOR ANY ASSIGNEE~i,~,l:ICCES~gR, HEIR, OR LEGAL REPRESENTATIVE OF INDEMNITOR (ALL OF WHOM ARE ~~!NgTER REFERRED TO AS THE "P ARTIE,s") SHALL SEEK A JURY TRIAL IN ANY LA wsPfi: PROCEEDINGS, COUNTERCLAJM, OR ANY OTHER LmGATION PROCEDURE BASEJtUPON OR ARISING OUT OF TIllS INDEMNTIY OR ANY INS1RUMENT EVIDENCING, SECURlNG, OR RELATING TO TIllS INDEMNTIY, THE LOAN DOCUMENTS, AND OTHER OBLIGATIONS EVIDENCED HEREBY, ANY RELATED AGREEMENT OR INS1RUMENT, ANY OTHER eOLLATERAL FOR THE INDEBTEDNESS EVIDENCED HEREBY OR THE DEALINGS OR THE RELATIONSHIP BETWEEN OR AMONG THE PARTIES, OR ANY OF THEM. NONE OF THE PARTIES WILL SEEK TO CONSOLIDATE ANY SUCH ACTION, IN WHIeH A JURY TRIAL HAS BEEN WAIVED, WTIHANY OTHER ACTION IN WHICH A JURY TRIAL HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS PARAGRAPH HA VB BEEN FULL YNEGOTIATED BY THE PARTIES wrrn eRA, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. eRA HAS IN NO WAY AGREED ~I". 15. Pllge 5 of 6 WITH OR REPRESENTED TO ANi OF THE PARTIES THAT THE PROVISIONS OF THI: PARAGRAPH WJLL NOT BE Ft II J Y ENFORCED IN ALL INSTANCES. IN WITNESS WHEREOF, the we nas executed and delivered this Agreement to the eRA v be effective the date frrst above wnl1B; INDEMNITOR: Women's Circle, Inc., a Florida not-for-profr (',orporation /'?-,. /':~;>;~"""-~~ By: ____~ . /;;~f!1'~~~nt '\i' H:\2007\070473 BBCRA\Womens Circle Ine Loan\Hazardous Materials lnd~mnity Agm~doc '-". '--,-<' ( ",~...--"":'"...:..." I . ' <' Page 6 of6 Boynton Beach eommunity Redevelopment Agency PROMISSORY NOTE Acquisition Loan $100,000.00 Boynton Beach, Florid. August , 2009 FOR VALUE RECEIVED the undersigned, the Women's Circle, Inc., a Florida not-for- profit corporation (hereinafter the "WC"), promises to pay to the Boynton Beach Community Redevelopment Agency, a Florida public body corporate and politic created pnrsuant to Section 163.356 F.s., (hereinafter the "CRA"), whose address is 915 S. Fegeral Highway, Boynton BelICh, Florida or such other place as the eRA hereof may, lh;>iljrl1!;"to time, designate in writing, the principal SIUD of One Hundred Thousand and 001100 (~W91000.00):polJars, the aforesaid principal SIUD as hereafter provided to be paid in lawful m\?A'ey'oftQe united States of America, which shall be legal tender in payment of all debts and dues, Il~blic 'lJ!Id p,N'l\~!?, at the time of payment as fi I] . /',,<~\ ',;,;. '';> o ows. /"..'Y \~" ','\ '~i;}>- /t/~ '. , :~",' '~;'(~~g. This Promissory Note (hereinafter the6i'Note ") shall not accrue intere,~t. The Note shall be due and payable in full on /iI'l'ffat.", the 1f;{; 's interest in the ~7,,!!,((!amily or Property (or its beneficial interest in a71,[Jr Jl~):J,. of the Property)lf,~/sold ar otherwise, transferred Thp.1ate of closing:~elpni or assignment hI the we's interest shall be conside:;eiitl1e;llJ.a,turity Date. '''~ '",,' ""'" "';" ,,\ It is hereby agreed that if any ;~YI!1e~tBfprincipal is n~t :!l1af,~;within fifteen (15) days of the Maturity Date as above P~Y~Hed; or in tJi~;,event .i!~fll.~! be mad~ah:"the perfonnance or compliance with any ofth~ covel}~;'lihil&~gitions o~~y,~~iifitfii~g,~~eAt'now or hereafter in effect securing payment of this Note~';9r u. pon any~,'.d...efault m ~~ payment ef';1lIlY sum due by we to the eRA under any other promissoly rt'8'tll, security ~trnment (;fpther wrift~n obligation of any kind now existing or hereafter created; or upon'The inso'~c)', bankrupt~ Or dissolution of the WC hereof; then, in any and all ~uch exeptW.tli(;;!(!l&~ ~'a~P}i';r'~~ci~",~r.~'N~te with all intere~ then ~rued, shall, at the optton q{~e holder oftQjs Note'i!Ild WIthout not\1i~ (the we expressly waIves notice of such default), b~om&:Iill'<!;Re d~e and (!6q~;tibie~~e being of the essence of~s Note. lfthis N~te sh~lI not be paId at the Maturity Date or "accordmgJo/.the tenor thereof and strictly as above provIded, It may be . '~1~, \!'\ '<<;-,l,::!',,;,,: .. . placed m the hans\$ of any attowey at Jil:o/' for collectton, and m that event, each party !table for the payment thereof, ai:;WC, endorser, or otlierwise, hereby agrees to pay the holder hereof, in addition to ,r:.},,, 1',~, the sums above stated;',!\,reason~!e SIUD as an attomeys fee, which shall include attorneys fees at the 1riallevel and on appeaWtq,g~'J:I:!~r with all reasonable costs incurred. After maturity or default, this Note shall bear interest at t1j~:1llgheSt rate permitted under then applicable law. ~':jl' As to this Note and any other instruments securing the indebtedness, the we severally waives all applicable exemption rights, whether under the State Constitution, Homestead laws or otherwise, and also severally waives valuation and appraisement, presentment, protest and demand, notice of protest, demand and dishonor and nonpayment of this Note, or any payment hereunder, may be extended from time to time without in any way affecting the liability of the we. Provided the eRA has not exercised its right to accelerate this Note as hereinabove provided, in the event any required payment on this Note as hereinabove provided, in the event any required payment on this Note is not received by the CRA within fifteen (\5) days after said payment is due, WC shall pay the CRA a late charge of five percent (5%) of the payment not so received, the parties Page 10f2 agreeing that said charge is a fair and reasonable charge for the late payment and shall not be deemed a penalt 111i5 N01e is prepayable in whole or in part at any time without penalr Nothing herein contained, nor in any instrument or transaction related hereto, shall be construed or so operate as to require the we, or any person liable for the payment of the loan made pursuant to this Note, to pay interest in an amount or at a rate greater than the highest rate permissible under applicable law, Should any interest or other charges paid by the WC, or any parties liable for the payment of this Note, result in the computation or earning of interest in excess of the highest rate permissible under applicable law, then any and all such excess shall be and 1:he same is hereby waived by the holder hereof, and all such excess shall be automatically cr~ii~ against and in reduction of the principal balance, and any portion .of s~id excess which exce~:the p',!pal balance shall ~e paid b~ the holder of the WC and any parties hable for the paymenfof fti~,Joan made pursuant to this Note, It being the intent of1:he parties hereto that under no circumsbtipes sli'al\tthe WC, or any parties liable for the payment hereunder, be required to pay interest uJ exc~1ls:of th;;::,Qj.ghest rate permissible under applicable law, . ",',., ,~ :'~~'l., This Note is to be construed accordmg'to ,the appl,icable laws of the 'S~~e pf;Florida and the United States of America and venue shall be in Pa1rilBeacli t:o~ty, Florida, ,)~/ ,:' The Women's Circle, Inc. '(', By"....> >,:Pre~iderit '" ~ H:\2007\070473 BBCRA\Wome~s G~cle Jm Li?im\rromissory Note.~qc ( Page 2 of2 GOREN, CHEROF, DOODY & EZROL, P.A. ATTOR.NEYS AT LA\' SUITE 20 ( 3099 EAST COMMERCIAL BOULEVARL' FORT LAUDERDALE, FLORIDA 3330E PHONE: (954) 771-450C FAX: (954) 771.492~ www.cityatty.eorr SAMUEL S. GOREN JAMES A. CHEROF DONALD J. DOODY KERRY l. EZRDL MICHAEL D. CIRULLO, JR. JULIE F, KLAHR DELRAY BEACH OFFICE DAVID N, TOLCES ~:L~~~'B::~:~ F~ ~E;:~~: ,/.,.(i:;;'\~h ~~~~L:~.. ~~~~~,~iR ( ) v SHANA H_ BRIDGEMAN PHONE: 561 276-9400 /,,1'" ANNABELLA BARBOZA FAX: (561) 619.6559 /,::(-:2'~!~\" STEVEN L JDSIAS, OF COUNseL PLEASE REPLY TO FORT L~\~\ ':'1~}~;", ERRORS AND Ol\fiSSIONS I C61\&LIANCE STATE~,..,,'-" <9"--'",.,.'",,- \'..... '''':"..,' '~\\ J59"" )i' LENDER: Boynton Beach Comn'iUn.ity'iRedevelopment Agency BORROWER: The V{<:men's Circle, In~>'", PROPERTY ADDRESS: 912-914 ~W 4fu Street, Boyn~oilJ,3each, FL CLOSING DATE: ":>~'2PP2. "" '~>-rt In order to induce the Lender to ~I~'se ';~;:~j,Q;e'loan m~~;~cation transaction and in ,..:, /.",;~, ",,; " ,,',", ,",..,.:'''-'' consideration thereof, the UJ;l4",~s.igned Borrow'ifnmd GuarantQ[:Sfate: The underSi~~;S:~~~eration o~;'~e Lende; disbursing loan proceeds on the aforementioned profJlj~~~. ee, .\~f...~q. ue. st... ed by, 't.. {~~der or its legal ?OI;'Jlsel on behalf of the Len~er, to fully c~ope~a~~~~~~l~(:. :!e.~Sllll ~lTors and/or omls~lOns,. any and all loan c\osmg d~tt~~~~;:,me~~r:ary:n!t!!'1,~lfable, m the reasonable dIscretion of Lender. /i~e undersignect.',;1:!5)l:"ower~,?"2yarantor do h~reby agree and covenant as aforesaid !" ordeJ"t<k;!l!l~,ure that the IOaij4<?cumen!i!otion executed thIS date wIll conform and be acceptable m the mark'llf!g!l!,ce in the instiiup~ of trafi'sfer, sale or conveyance by Lender of its interest in and to 'd I d "","" tati' '\,"'i sal Dan OC~~~ on. l\~:J BORROWER:'~'" //Y The Women's Circle:-',il'f1.orida not-for-profIt . \::~;;:I corporatIon ,jP By: , President H:\2007\0704 73 BBCRA\Womens Circle Ine Loan\Errors & OmissiOn<; Statement.doc /1,' J<, -.: ~'?''"'''. ,,,>r-";~ ',;ll. t"~""- '"..--e;o,', .. ""\;' I!JRY~Te~ C iI East Side-West S'lde-Seaside Rena'lssance eRA BOARD MEETING OF: September 8. 200c x I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Approval of Trolley Service Agreement - Service Modification Agreement SUMMARY: At the August 11, 2009 meeting the Board authorized a change in the contract with Molly's Trolley to a new term of three years with the ability to terminate annually with 45 day notice, north route only, elimination of Saturday service, revised rate scale, fuel clause and maintenance buyout (see minutes attached). The contract amendment is also attached. FISCAL IMPACT: $425,040 in FY 2009-2010 CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS: Approve Trolley Contract Amendment 0~~- Susan Harris Finance Director Jim Cherof, CRA Attorney T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-8-09 Meeting\Trol1ey Service Agreement.doc Meeting Minutes Community Redevelopment Agencv Boare Boynton Beach, Florida August 11, 200: Motion Ms. Ross moved to enter into a mortgage ana note with the Women's Circle in tn' amount of $100,000, with the contingencv that the appraisal come in at $100,000 (! higher. Vice Chair Hay seconded the motion that passed unanimously, Chair Taylor clarified the Women's Circle would be providing the appraisal. UpOI submission to the CRA of the appraisal reflecting the property's worth to be at least $100,000, the funding would be available to the Women's Circle. F. Consideration of Trolley Service Contract Renewal Susan Harris, Finance Director, advised if the Board did not take any action by August 15, 2009, the contract would renew for a three-year period at hourly rates to be negotiated with the contractor. Over the last few years, the CRA had made a number of modifications to the contract and Molley's Trolley had always been more than willing to work with the CRA. As a result of the severe economic decline, Molley's Trolley has offered a substitute contract which would include a change in the term from three years to three one-year terms, with an option to terminate annually. The notice period had previously been changed to 45 days, and the vendor would accept this provision under a new contract. The cancel percentage would be adjusted to 28.5% (120 hours), which would benefit the CRA. The adjustment would also include a change from four to seven major holidays. The vendor was also requesting a gas escalation clause and a maintenance buyout. If the contract were to be cancelled during the three-year period, the CRA would be obligated to reimburse the vendor in the amount of $20,000 for maintenance performed. Option 3 calls for the renewal of the current contract or a new contract with the southern routes added for an additional cost. Option 4 called for the renewal of the current contract or a new contract, with the elimination of Saturdays, for a savings of $67,000. Chair Taylor favored Option 4 providing for the new contract as described by Ms. Harris. The contract would provide service for the north route only and would eliminate Saturdays. Mr. Weiland preferred a version of Option 4, with the elimination of one day, saving $67,000, and adding $45,000 for Option 3, with the addition of two days and the southern route. 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Ms. Harris reminded the Board if the southern routes were reintroduced at this time, the amount of revenue could not be determined. The southern route. as well as the issue of Saturday service could be revisited at the end of September In response to the inquiry of Ms. Ross, it was noted the Shopper Hopper service currently remained in the budget. However, it would be determined in September whether the service would remain or be cut from the budget. Pursuant to the request of Mr. Rodriguez, it was verified the Board could approve the item at this meeting and, prior to the approval of the budget, could include the southern route and Saturday service. Motion Mr. Rodriguez moved to approve Option 4. Mr. Weiland seconded the motion that passed unanimously. XII. New Business: None XIII. Future Agenda Items A. Consideration of GreenCentive Addendum to Direct Incentive Funding Program B. Property Exchange between CRA and City XIV. Comments by Staff Kathy Biscuiti, Special Events Manager, commented the CRA was a member of the Florida Festivals and Events Association, and the annual awards were held recently. She had submitted several photographs taken at various events, and the CRA was the recipient of an award for a photograph of the police taken on the 4th of July. Mike Simon, Development Manager, advised the CRA Policing Unit was hosting a Teen Academy, noting Sgt. DeGiulio would provide further details. Sgt. Joseph DeGiulio, Boynton Beach Police Department CRA Policing Unit, added the Unit was currently hosting a Teen Academy at Intracoastal Park, partnering with the Crime Prevention Unit and Community Action Team. The Academy emphasized teamwork and leadership, with the hope of fostering better relationships with the community's youth. Mr. Rodriguez inquired whether Stacey Robinson, of the Youth 12 Tmlley Service Agreemen SERVICE MODIFICATION AMENDMENl This AGREEME:"IS maOe ano entered Into as of August I ~th, lO(Jl) Ik'I\I',','n tli 'W\''''',' Beach Commul11t\ Redevelopment Agency, a pubhc agency created III nursLlalll t" i namel III, Part III, of the Flonda Statues. II ith a business address of l) 1 ~ South FeLlera I I-i I ~11\\ ,', !>ol'ntt'" Beach, FL, 3343~ hetTlnatler till' "CRA" and Molly's Trolleys, Ine a Penn"'1\ alll:l . "r!loral1<Il' withotfices located at 2112:' Mercer '\venue, West Palm Bcach, II \341" 1 ,n,-," , "MOLL Y'S' WHEREAS Ole CK,L, and MOLLYS entercd into a trolley service' "~ICc"'It'n "Ii (Ictober 30,2006, hereinatlcr "ACiREEMENT': and WHEREAS. Article II Sec 2.4 of AGREEMENT pro\ldes for route ano ,,'1\ ICl' modiJicatlon, WHEREAS. the parties have agreed to the route and senlee modificauoli NOW THEREFORE. 111 consideration ofthe mutual covenants contained herell! and lit the original Agreement, and other good and valuable consideration, till' receipt oj wlllell " Ilcreby acknowledged by both parties. the parties agree as follows: I, Article I Section 1.2 of the AGREEMENT is hereby amended as follows: i, Change CONTRACT TERM from 3 year contract to. three ('), One ( I ) Year contracts ii. Change NOTICE PERIOD fh)m July I Il)O day notice) to August I 'i,h t;':, I:') of that year (45 day Notice) 2. Article II Section 2,2 of the AGREEMENT is hereby amended as follows: i. Contract is for 2 trolleys running daily on the North Route: howeler. a third trolle\ IS rotated into service for maintenance/repairs, (ic 3 trolleys in service) 3. Article 11 Section 2,3 of the AGREEMENT is hereby amended as follows: a) North Route (Yellow Line): Two Trollevs . Approximately 19 stops from Marina Village. north to Gateway and then West to the mall 2 Trolleys run daily on the North Routc. (}'d trolley rotated in few maintenance I . The hours of service to the public will be as follows, Monday- Friday: 7: 15am- 6:30pm ONLY (No Saturday or Sunday Sen ICt' I . The total billed hours per FIVE days per week which includes garage to garage time: 00 hours per week per trolley. or a total of 120 hours pcr week I for 2 trolleys I . Trolley Service runs M-F all year Except 7 Holidays: Christmas. New Years Day. Thanksgiving, Memorial Day, July 4th l.abor Day and MLK Day, (Easter always falls on Sunday) b) Elimination of the Southern Route as approved by the eRA Board on June 7. 2009. 2. Article 11 Section 2.4 of the AGREEMENT is hereby amended as follows: i, Adjust Cancel Percentage from 100'0 to 2S.'iO'o (120 Hours) (Based on Original Contract base period of operation of 10;': total hours pCI' week) Additional Challl!eS 1. FUEL CLAUSE- I f Diesel over $3.25 gallon, than additional charge (of difference). - , Diesel Gas Fuel , ! Price Surcharae I > $3.25/ a aallan $1.00 > $3.75 $2.00 > $4.25 $3.00 > $ 4.75 $4.00 Based on 120 hours a week*4~ 480 hours per month. eRA Fuel Surcharge will kick in if prices rise 16.5% from current point to $3.25 a gallon (8/10/091 ($3.25- $2. 79~ .46 / 2. 79~ 16.5%) 2. MAINTENANCE BUYOUT A) If Give Cancel Notice by July 1 (90 days), then NO MAINTENANCE BUYOUT. B) If Give Cancel Notice by Aug 15, (45 days) then $20,000 ($6,666 per trolley * 3 trolleys). 3. Proposed Rate Scale for Next 3 years: YEAR RATE 09-10 $70 / hr 10-11 $71 / hr 11-12 $72 / hr All other provisions of the Al!reement shall remain in full force and effect. MOLLY'S TROLLEYS, INC Molly Stahlman, President Date: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Lisa Bright, Executive Director Date: 2 VI. CONSENT AGENDA: H. Approval of Denial of Commercial Fa~ade Improvement Grant Program Application Submitted by Boynton Isles Neighborhood Association "","", ~~~qY~T8~CRA . East Side-West Side-Seas'lde Renaissance eRA BOARD MEETING OF: September 8, 2009 I x I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Approval of Denial of the Commercial Fayade Improvement Grant Program Application submitted by Boynton Isles Neighborhood Association. SUMMARY: On August 4,2009, Mr. Kevin SkulJy, President of the Boynton Isles Neighborhood Association, submitted a Commercial Fayade Improvement Grant Program application for the future improvement of their neighborhood entry sign located at the comer of S. Federal Highway and Greenbriar Road (attached). The application was not executed and none of the required back-up documentation was included. Mr. SkuJly was informed at the time of submission that a neighborhood entry sign did not qualifY as a commercial property or business and was not eligible under current program guidelines. Mr. SkulJy told staff that he was referred to the program by CRA Board member Rodriguez who is also a resident of the Boynton Isles Neighborhood. Subsequently, on August 18,2009, an application denial letter was sent to Mr. SkulJy via regular mail (attached). At the email request made by CRA Board member Rodriguez on Tuesday, September 01, 2009 (attached), this item has been placed on the agenda. FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Downtown Master Plan and Federal Highway Plan. RECOMMENDATIONS: Approval of Denial of the Commercial Fayade Improvement Grant Program Application submitted by Boynton Isles Neighborhood Association. .!: -d' '",,"i'/. .. -'j;;' v<'~. . .~ Michael Simon, Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-8~09 Meeting\Boynton Isles Comm Facade Grant appl.doc KEVIN SCULLY 941 BROOKDALE DRIVE BOYNTON BEACH, FL 33435 561-736-2407 ~ ,( Ii BOYNTON ISLES HOMEOWNERS ASSOCIATION FACADE GRANT APPLICATION TIDS IS AN APPLICATION FOR A FACADE GRANT TO IMPROVE OUR NEIGHBORHOOD SIGN "BOYNTON ISLES" LOCATED AT THE CORNER OF FEDERAL lllGHW A y, ISLES ROAD AND GREENBRIAR DRIVE. AT THIS POINT IN TIME WE DO NOT HAVE ANY DEFINITIVE PLANS BUT WE WOULD LIKE TO KNOW WHEN THE TIME ARRIVES TO IMPROVE THE SIGN. WE WILL HAVE ACCESS TO THE GRANT PROGRAM. THANK YOU FOR YOUR CONSIDERATION, IL~~ ~J!t)'. KEVIN SCULLY' PRESIDENT BOYNTON ISLES HOMEOWNERS ASSOC AUG 4TH, 2009 , ~l /.', ....... ' ',.n,. " ,~, :'", '. ,,';:,.,......:.,- I //;,~~. ,~~~\ r"",,/'-i~ \ (~' t{ ~~~qY~T2~ Ie Ii East Side-West Side-Seaside Renaissance 2008/2009 COMMERCIAL FACADE IMPROVEMENT GRANT PROGRAM APPLICATION FORM Boynton Beach Community Redevelopment Agency Maximum Grant Amount is $15,000,00 (Please Print Or Type Only. Use Additional Sheets If Necessary) APPLICANT INFROMATION Name of Property Owner: 2(.)-/1". to,,", J:"Sle5 Ho"'^-U)U/I'~Ii.S Assoc. Address of Property f"T I ,I{r;d-J? q.-G({""e.",~AI~'I-A c..oR..'ti' f.!.. cl .... 5 "".-5 11 Owner: Clh t='~,V"'ill}{ H!~I'tN-tl--./ I City/State: 80 '/11 iv I' B e~J, E L-. Zip Code: .5 S \.f 3 ~ Phone # Day: S& (':5 ~&-l.f(, S'i- 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 Fa<;:ade 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. 3. Eligible exterior improvements for this program include: . Painting . Shutters . Signage (located on the building or the property) . Awnings/canopies . 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 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 signage it must be in accordance with City Ordinance No. 98-43, 2 5. Maximum Grant amounts: The CRA will provide, on a reimbursement basis, a dollar for dollar matching grant for eligible fal;ade improvements up to a total of fifteen thousand dollars ($15,000.00) of CRA funds. 6. The Fal;ade Grant program will honor expenditures completed up to 90 days prior to application, improvements underway and proposed improvements. 7. The Fal;ade 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 shall be limited to one grant 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. c. 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. Entire scope of work is completed. Applicant provides "After" photos. 3 APPLlCA nON 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. 2. An original application and eight (8) copies of all materials are 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 approval, appropriate grant program documents will be prepared in the CRA Attorney's office and the applicant will be notified of approval by return 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 Fa9ade 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 I 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 MI::, an officer duly authorized by law 1l, ddminister oaths an,] 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: (, ,Vi""" ~,""~~ /~;:':~~\ I ,\ .... ~~~~Y~T8~CRA . East Side-West Slde-Seaslde Renalssance August 18, 2009 Mr. Kevin Skully 941 Brookdale Drive Boynton Beach, Fl 33435 Re: Commercial Fa9ade Grant Application-Boynton Isles Dear Mr. Skully: After reviewing the Commercial Fa9ade Improvement program application submitted by you on behalf of the Boynton Isles Homeowner's Association, the CRA does not currently have a program that addresses your specific request. Under the guidelines of the Commercial Fa9ade Improvement program, neighborhood entry signs and/or homeowner associations do not meet the criteria for the grant. The Commercial Fa9ade Improvement Grant Program is intended for use by commercial business tenants or commercial property owners for limited exterior improvement to their storefronts or building. We appreciate your interest and if you have any questions or concerns, please do not hesitate to contact me. Sincerely, ~~~~, Michael Simon Development Manager Cc: Vivian Brooks, CRA Assistant Director ftIe 915 South Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-7373-3258 www.boyntonbeachcra.com lal-}t. Bright, Lisa From: jreguez@aol.com Sent: Tuesday, September 01.20092:55 AM To: Bright. Lisa Boynton Isles received a letter denying a grant for entry signage, can you please put on agenda Il')" discussion..thanks. Best Jose ^" ,.....1"\1"\('\ VI. CONSENT AGENDA: I. Approval to Support the Schoolhouse Children's Museum 2009 Annual Dinner Dance ~ ~~~qY~T8\81C RA Ii East Side-West S.lde-Seaside Renaissance eRA BOARD MEETING OF: September 8. 2009 I x I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Consideration to Support the Schoolhouse Children's Musewn 2009 Annual Dinner Dance SUMMARY: The Schoolhouse Children's Museum has requested the Boynton Beach CRA to support its 2009 Annual Dinner Dance, taking place September 11,2009 at Benvenuto Restaurant, 1730 North Federal Highway, Boynton Beach, FL 33435. Individual tickets can be purchased for $100 or a table of 10 for $950. The City declined attendance due to lack of funds in its budget. FISCAL IMP ACT: $950 from General Fund 01-51010 RECOMMENDATIONS: Option I: Decline sponsorship; Option 2: Approve sponsorship at table or ind~vi~'level ~kJ/1~ Vivian Brooks Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-8-09 Meeting\Schoalhouse Children's Museum 3rd Annual Dinner Dance,doc ... ffl!!~}i1!W' ,(" ! Sclioo[Jiouse Cliiftfren 's ~useum et Learning Center Ifl't'ites you ie, U't(, 3rdjJnnua['Umllfl.0ulla "'Ycaroooft:M.emorks 2009>> J{onorary Choir Sheriff (j(jc CBrcufsfww 'FMay, September 11, );009 Coc(taifJ{our. 7'00 '1':M - 8:00 P'J>I r])inner andr])atlrl"ll 6eOim at 8:00 P'.M (jjen'f-'t"nuto ~taurant 1?JO 'Nonr. PeaerafJtI{}r.wa,v (Boynton lJ3eacn. tfZ J Nj 'i Coclttai[!Ittire Pur ",ure informatwn, pkase call (561) 742 -6785, 31'1[ )lnnU4{ iDinner r])ance - 'tear6oo(:Memories 'Friaay, Septem6er 11, 20M i: 00 'fY.M )l jurufraiser to 6e11$fit tlie ScliodFiouse CliiUfren's :Museum eZ Learning Center :Nt11M: )laaress: City: CPlione: 'llfserr;e _ seats at $100 per person: 'llfserve _ ta6le (sJat $950 perta6le ofl0: 'Yes, I wi{{ 6e atterufing and malUng an ad"iitiona[ aonation of :No, I wi{{ not 6e attenal1lf! 6ut wish to tnaIi! a aonation ~f 'l'ota[ amount encLOsed' State:_.__.._ Zip: ....______ 'Emai[: ___..______...' L___...._ t___.. $--- 1..--- $_-_. Credit Cara num6er: v-CocCe (3 aigits on 6ac(of carll): :Name as it appears on credit car!: Sienature: :Maf<J cliec~ paya6le to Sclioolliouse CliiUfren '5 :Museum Or CircCe one: Visa :Mastercara ' 'Exp. r])ate:______ . iBiffing Zip:___ )l portion of eacFi ticRst is tax..aeaucti6le, 'lTze Sclioolliouse CFiiUfren's :Museum is a non-prciftt 501 c (3) liistOlY museum as aesif]natea6y tlie 1'R,5. Ta:{Ir]): 31-1494582. VI. CONSENT AGENDA: J. Approval to Support the Business Development Board 2009 Gala ~~~<tY~T8~CRA . East Side-West Side-Seas.lde Renaissance eRA BOARD MEETING OF: September8,2009 I x I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Consideration to Support the Business Development Board 2009 Gala SUMMARY: The Business Development Board has invited the City Commissioners to attend 2009 Gala, taking place September 12,2009 at The Breakers, in West Palm Beach. There are three different types ofRSVPs (please see attached flyer): . Reserve individual seats @ $200 per person . Reserve tables of 10 @ $1,900 per table . Reserve tables of 12 @ $2,300 per table The CRA could support this event since the City Commissioners and CRA Board are the simultaneous positions held by the same individuals. The City declined attendance due to lack of funds in its budget. FISCAL IMPACT: $1,900 (table) from General Fund 01-51010 RE OMMENDA TIONS: Option I: Decline sponsorship; Option 2: Approve sponsorship at tabl or' dividuallevel ivian Brooks Assistant Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-B-09 Meeting\BDB 2009 Gala,doc BUSINESS DEVELOPMI:cNT BOARC' f)(j...O .\ f . ~ ,,) SEPTEMBER 12 THE BREAKERS COnlP cde\I],J:fj (IIH 2008 :.2:008 8conOrT"iIC rlev8Ioprra'-;II' "iCI:\lrr',p!'c:llrllenh Cifl,:i n~(;n9ril!e GHHUt, F-Ir-;nre rer:l~llellt nf the b:rY'lun,ji Ue,,'pluprfl'_,m L8ad<-'lsh,r:: A\>\I,,' COCKTAILS & CIGARS AT 7 PM Hnsr C()MMITTEE DINNER & DANCING AT 8 PM L)eUor<-,:h BePT ,c,ur 8:11 Berqer LIVE MUSIC j,;I', BII"I :~t:llrlW e!n (,\IT t-: t '1~lt' Fanlu' ,!I j'PI; f:i1hr, ["'l'l ,k,i: oi(ov,<,J I : ;\"\lh1 L\:t fV1d'-;;~"- :'II,'llv].-lt,\ I. '_I i IISbl" 'l~ $200 PER PEP,SON " (,,' P':'rc'~ TABLE OF 10 $1.900 TABLe OF 12. $2,300 BLACK TIE OPTIONAL \ 'hcl!i!f I, .I~' rF;rT' ,,() :cll',\!'V"II" RSVP 8Y SEPTEM8eR 6 AT 8D8 ORG l:l'li~s Devte19pn~iP~ lIlt '------floan:il 561,835.1008 L lPR Lon"'lrllctIO:-, GreensP()(H1 MC1fde~ f',A kf-,Iated fJ ',-:, ,,-.\-(',1 Portner", H?rdri\!c:, Ii' (imido Cry:;i(JI' I FiF) f'ublicClti(lfl' r~'l f I ('Irlk i ry';,tal j" onlflCl'Iy- i'i!f-': A~Jil.'n I_J 'Jill' iFf' M~dl(di Cp:11e~1 ["ili-'JIDr; !'li:(:d r l"ticllhl 80\\', :-:~UI()rl: R2::,' h','1 ~if,ll(!li i [\,1 I :If;dll f..Co I't;u-~ U~,'rJ''; F\:,I,i"rjc-:1i'-lll Office DEPOT ..- .. 'l"iITIlj!!r';liJtr.'cii,\, If:I" "'1.'1 VIII. INFORMA TION ONLY: A. eRA Policing Activity Report for the Month of August 2009 and District Statistics for the Months of July and August 2009 .A~ ;: ,. ~. '~,," (' ,"'''' \ l'~~qY~T8~'CRA Ii East Side-West S"lde-Seaside Renaissance eRA BOARD MEETING OF: September 8, 2009 I I Consent Agenda I Old Business New Business Public Hearing I X I Other SUBJECT: CRA Policing Activity Report for the Month of August, 2009 and District Stats for Months of July and August, 2009. (Info,OnlYi SUMMARY: Monthly report, providing activity and data on Crime in the CRA District: July 2009: . Crimes - 56 . Arrests - 6 . Calls for Services - ] 711 August 2009: . Crimes - 41 . Arrests - 2 . Calls for Service - ] 647 FISCAL IMP ACT: 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\9-8- 09 Meeting\CRA Crime Monthly Slats August.doc ~I"OLtc... ~t'{.: {\)~\~) .,-~'D).V~ ","~ ,..H Boynton Beach Police Department Year-la-Date Crime Comparison Report 2008 I 2009 CRA District AUG 2009 CRIMES Aug-09 Aug-08 + 1- Jul-09 + 1- Y-T-O Y-T-O + 1- 2009 2008 Criminal Homicide 0 0 0 0 0 1 2 -1 Sexual Offense 0 0 0 1 -1 4 2 2 Robbery 7 5 2 5 2 35 53 -18 A~~ravated Assault 3 6 -3 3 0 52 53 .1 Burglary 15 13 2 26 -11 124 91 33 Larcenv 14 28 -14 16 -2 185 210 -25 Auto theft 2 8 -6 8 -6 25 47 -22 TOTAL 41 60 -19 59 -18 426 458 -32 ARRESTS Aug-09 Aug-08 + 1- Jul-09 + 1- Y-T-O Y-T-O + 1- 2009 2008 Criminal Homicide 0 0 0 0 0 1 1 0 Sexual Offense 0 0 0 0 0 0 1 .1 Robbery 0 2 -2 2 -2 9 17 -8 kQlIravated Assault 0 3 -3 1 1 19 23 -4 Burglary 0 1 -1 0 0 14 8 6 Larceny 2 10 -8 3 -1 51 43 8 Auto theft 0 0 0 0 0 7 5 " TOTAL 2 16 -14 6 -4 101 98 3 CALLS -107 Y-T-O 2009 12820 Y-T-O 2008 12376 + 1- Aug-09 Aug-08 + 1- Jul-09 + 1- ... 1647 1504 143 1754 444 9/2/2009 eRA Police Team MONTHLY ACTIVITY REPORT MONTH: AUGUST 2009 08/04/21109 -Patrolled the Federal Highway Corridor in vehicles -Conducted traffic enforcement in the CRA District -9 citations, 1 felonies, 2 misdemeanors -Conducted three controlled drug buys at target locations throughout the CRA District. - .4 grams of crack-cocaine recovered, 3.9 grams of marijuana recovered. . -Filed arrest warrants for people involved in the doctor shopping case. - filed 8 felony warrants with state attorney's office. -Assisted Road Plltrol with calls for service 08/1112009 . -Patrolled the CRA District in vehicles - Conducted extra patrols at 203 NE II th Ave, the old Texaco station, 131 NE 4th Ave, and the KFC parking lot. - With the use of two CIs, conducted two separate drug buys at two target locations in the CRA District. . Assisted with the teen police academy for most of the week -Assisted Road Patrol with calls for service 08/1812009 -Patrolled the Federal Highway Corridor in vehicles -Conducted traffic enforcement in the CRA District . Arrested BIM Calvin Griffin 02/26/1976 at 2300 S. Federal Highway for fleeing and eluding, DWLR, RA without violence, and refusal to sign summons. 2F 2M 3C -Extra Patrols at all city parks in the CRA District - With the use of a CI (who was picked up in the area of Golden Sands Motel), conducted a "buy bust" at 1789 N, Congress ","ve. Arrested was WIM Jose Deltoro for possession with intentto sale as well as sales of heroin. 11.4 grams of heroin valued at (approximately $1500) was recovered. One vehicle and $1660 in case were seized for forfeiture. 2F I C - Conducted a controlled drug buy with the use ofa CI as well as two DC's at a target location on Seacrest Blvd. as well as one location in the HOB. .4 grams of crack cocaine was recovered, -Patrolled the HOB in vehicles. . Arrested BIM Morris Grover 06/06/J960 and BIM James Neal 10/30/1957 at 420 NE )3th Ave, Grover for p~session of 5.7 grams of marijuana, Neal for possession of.4 grams of marijuana. 2M 2C . Arrested WIM Johan Junttila 04/19/1985 at 200 W. BBB for possession of.9 grams (3 2mg pills) of xanax. IF tc - With the use of a CI and UC, conducted a controlled drug buy at a location in the HOB. .2 grams of crack cocaine and 4 30mg ol\ycodone pills. -Assisted Road Patrol with calls for service 08/25/2009 - Assisted road patrol with case against local pawn shops, Two people were arrested by road patrol officers. -Patrolled the Federal Highway Corridor in vehicles . Arrested Stacy Passick on S. Federal Highway for solicitation of prostitution. 1M - Conducted a search warrant on 212 B Ne Ji" Ave, Lajuana Owens had two warrants for two previous sale charges, 2M 2W ~Continued work on undercover operation. - Had three arrest warrants and one search warrant walked through the state attorney's office. Misdemeanor ! 10 Cocaine 1.9 Cash ! 1731 Felony 1-'3 Methamphetamines Vehicles rT- Citations i 13 Marijuana 30.1 ---- '3-- Warrant Arrests Heroin J 1.4 Charges Filed i ]2 Schedule II 4 Warrants Executed i-- Schedu Ie 1IJ I] I TOTAL ARRESTS ~~ Schedule IV 3 --'-- Guns VIII. INFORMATION ONLY: B. Public Comment Log Monthly Update Utterback, Theresa From: Spillane, Heather Sent: Friday, August 21,200910:46 AM To: Utterback, Theresa Cc: Brooks, Vivian; Bright, Lisa; Majors, Wally; LaVerriere, Lori; DeGraffenreidt, Mary Subject: RE: Aftercare program/Sims Center I spoke to Karen and explained the situation with aftercare vs. summer camp and the process of licensing a facility, She now understands the whole picture and only hopes that we can find a way in the future to provide aftercare services. I informed her that we are always looking for ways to increase participation and provide needed services to the community and would continue to do so. Her intent in emailing the eRA was to see if they could provide funding to assist the department with the cost of the fence (thinking that was the only issue), The city offers care at a much lower rate than the school board and because her children take part in programs at the pool, it was also more convenient. She, and other parents, would like to attend the Community Meeting and I told her I would keep her updated with the progress on my end. from: Spillane, Heather Sent: Thursday, August 20, 20094:38 PM To: Utterback, Theresa Cc: Brooks, Vivian; Bright, Lisa; Majors, Wally; LaVerriere, Lori; DeGraffenreidt, Mary Subject: RE: Aftercare program/Sims Center I will call Karen, explain the licensing differences and see what I can do to help. Her issue seems to be that Poinciana aftercare is too expensive and if her children are enrolled in one of the city aftercare programs (less expensive!), she would have to pick them up and drive them to the pool. At Sims, she would save money and they could walk to the pool for lessons (assuming staff could provide that convenience; Health Department rules I). There are MANY steps to take before Sims can provide an aftercare program (only one ofthem being a fenced play area). I will send a follow-up email of our discussion. Utterback. Theresa From: Utterback, Theresa Sent: Friday, August 14, 2009 1:43 PM To: 'karenrob10@hotmail.com' Cc: Bright, Lisa; Brooks, Vivian Subject: Aftercare program/Sims Center Hello Ms. Jacobs: The CRA wanted to be sure and let you know that we are in receipt of your letter dated August 6, 2009 with respect to your request for an aftercare program at the Sims Center This issue has been a priority for the CRA Community Committee and it will be discussed at the next CRA Community Committee meeting which is tentatively scheduled as follows: CRA Community Committee meeting September 21, 2009 at 6:00 pm Boynton Beach Woman's Ciub 1010 S. Federal Hwy, Boynton Beach Fl 33435 Please be sure to contact our office prior to the meeting dale to confirm We look forward to seeing you at the meeting, In the meantime, if you have any questions, please feel free to call our office. Sincerely, Theresa Utterback Administrative Services Manager Boynton Beach eRA 915 South Federal Highway Boynton Beach, FL 33435 P: 561~737-3256 ext. 216 F; 561 ~737-3258 utterbackt@bbfl.us 8/14/2009 --... I\a.-en v. Ja(:()bs 1200 SW 2f)1tl Avenue l3()yuwn l3ead1~ f'L 3342fJ August 6, 2009 Boynton Beach CRA 915 South Federal Highway Boynton Beach, FL 33435 Re: School aftercare program - Sims Center To whom it may concern: 1 have recently heard something that is very confusing to me and thought I would like to share it with everyone at the City of Boynton & CRA in hopes someone can clarify and change. My three (3) children have been attending the summer camp at the Sims Center and attend school at Poinciana Elementary. We do several sports with the City of Boynton Beach throughout the year. The year before last we took advantage of the aftercare program at the art center and loved it. Last year we changed aftercare to the school program due to the interest by my children to get involved in both the clubs offered through school and the City of Boynton Beach swim team at the Denson Pool. I am a working parent and cannot leave my job to transport my children to afterschool activities. Last year it worked out beautifully and can essentially work out the same this year. My only problem is....$ - like everyone else in this economy - ends are not meeting as easily as in the past. My confusion is that you have that amazing Sims Center and the location could not be better for the parents of children attending Poinciana for an aftercare program. I inquired at the Sims center about offering that service and was told they could not hold aftercare due to "fencing issues". I certainly understand the need to have the playground completely fenced but do not understand how a summer program (which was wonderful) with children there 7:30a-5:30p could be allowed and an aftercare program which would have children there 2:30p-6p (less hours) cannot be allowed. It just does NOT make good sense - not a reasonable answer in my eyes. I am hoping that somehow this decision can be changed and you can offer an aftercare program for the City of Boynton Beach Elementary School students. I have spoken to several parents about this issue and they are all willing to help in any way possible to make this happen. An aftercare program at the Sim's center would help many Boynton Beach Families with aftercare needs at a reasonable price and make it possible for our children to take advantage of the awesome swim team at the denson pool. Thank you in advance for reading and considering our needs. Sincerely, Karen R. Jacobs 561/716-0927 Karenrob 1 O@hotmail.com , -, CRA Compla"I( and Comment Log ""\ , Letter Sent to 8/6/2009 CRA Requesting aftercare Karen R. Jacobs 561-716-0927 program at Sim's Center 8/14/09 Theresa Utterback replied by email that this matter was being discussed at the next CRA Community Comm. Meeting, advised that she would be notified of the next meeting. 8/21/09 Heather Spillane responded to Ms. Jacobs as to the regulations of having aftercare at Sims Center. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Fonns by Meeting\FY 2008 - 2009 Board Meetings\9-8-09 Meeting\CRA Public Comment Log VIII. INFORMATION ONLY: C. CRA Media I!lRY~T2~icRA . East Side-West Side-Seaside RenaiS$ance Media contact: Margee Walsh Boynton Beach CRp, (561) 737-3256, ext. 204 walshmlCilbbfl.us FOR IMMEDIATE RELEASE August 7, 2008 BOYNTON BEACH POLICE AND CRA UNIT HOST TEEN ACADEMY Students wilt compete in obstacle courses Boynton Beach, FL - 24 students will find out what its like to walk in the shoes, as well as ride along on the bike patrols, of local police officers, as they spend a week enrolled in the Boynton Beach Police Department's inaugural Teen Police Academy. The program, hosted by the Boynton Beach Police Department, the CRA Policing Unit and Community Action Team (CAT.), is scheduled for August 10-14 at Boynton Beach's Intracoastal Park, 2240 North Federal Highway, Boynton Beach. The student's new found skills will be put to the test on Friday, August 14, as they compete in a final timed competition beginning at 9:00 a.m., followed by a barbeque and graduation ceremonies. The Teen Academy, a brainchild of Officer John Huntington, will provide the students, ages 14-16, a hands-on opportunity to learn how the BBPD operates. Class topics include: SWAT, K-9, defensive tactics training, dangers of traffic stops, marine enforcements, bike patrol techniques and gang awareness. "Under the guidance of trained professionals, these kids will experience the daily rigors that our police officers are quite familiar with such building searches, studying crime scenes and learning about firearm safety," stated Huntington. "Our hope is this new awareness will encourage the children's civic development and desire to serve the public through a career in law enforcement." Other officers involved in coordinating the program are BBPD's Robert Kellman and Frank Danysh, along with CRA's Sergeant Joe DeGiullio, For more information call Stephanie Slater at 561- 742-6848. J -' Friday, August 14: Members of the Boynton Beach's Teen Police Academy '} .. ~ 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 organization focuses on creating a vibrant downtown core, providing affordable housing, and revitalizing neighborhoods. For more information on the CRA, its programs and activities, call (561) 737-3256, or visit www.bovntonbeachcra.com. ### '} _/ ~!t~qY~Te~ eRA . East Side-West S',de-Seas'Jde Renaissance Media Contact: Margee Walsh CRA Marketing and Communications Director (561) 737-3256, ext. 204 walshml1ilbbfl. us FOR IMMEDIATE RELEASE August20,2009 Earth Friendly Dry Cleaner A Breath Of Fresh Air In Boynton Beach Boynton Beach, FL - "Green" dry cleaners are difficult to find, and with a large portion of the population looking for environmentally sensitive products and services, Evan Whelan decided the timing was right to open Eco Green Cleaners Corporation, located at 520 E. Woolbright Road, Boynton Beach, An added perk: customers pick up their garments, packaged in biodegradable plastic bags, minus that familiar, petroleum-based "odor" associated with chemicals many traditional cleaners use. A professional seamstress is also on staff, whose talents in custom alterations range from tailoring business suits and wedding gowns to sewing hand-made Halloween costumes. Wheian, who formerly worked as a commercial real estate broker, wanted to open his own business and learned about the dry cleaning opportunity from a former partner. The additional "green" element of the operation made it more appealing. "I am all about customer service and the added benefit of offering a finished product that is beneficial to my client's health, as well as good for the environment, is a plus," said Whelan. "Customers always remark on how fresh their clothes smell, which is due to the water-based cleaning products we use," The main solvent used by 95% of dry cleaners today is called perchloroethylene, also known as PERC. While commonly known as a cleaning agent, it also appears in consumer paint strippers, Use of this chemical has been outlawed in California, New York and Germany, and Florida is considering a ban. Whelan totes the use of Dry Solve, a new, liquid silicone and water based solvent that is more expensive than "PERC," but not considered hazardous, toxic or flammable, Whelan does not pass the extra expense on to his customers and notes his prices are comparable to his non-eco friendly competitors, -conl'd- Shortly after opening his doors in February 2009, Whelan hired Briceida Schroeder, "Bea," to handle all on-premise alterations. Schroeder's resume in high-end tailoring, sewing and embroidery is quite impressive, having worked for 16 years at The Harid Conservatory, a prestigious, professional-training school for high-school-age ballet students, located in Boca Raton, where she designed colorful customs and outfits for the young dancers. ) Hours are Mon. - Fri., 7:30 a.m. - 6:00 p.m., Sat. 9:00 a.m. - 3:00 p.m., closed Sundays. For more information, call 561-424-0200. 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. ### -, I Evan Whelan, owner of Eco Green Cleaners, Boynton Beach, FL ') " ---- - -- ~~RY~T2~.tCRA ill East Side-West Side-Seaside Keni1lssanCc Media Contact: Margee Walsh Boynton Beach CRA (561) 737-3256, ext. 204 walshm@bbfl.us SPECIAL FOR BOYNTON FORUM August 2009 Boynton Beach CRA Connects with Community Through Online and Social Media by Mayor Jerry Taylor, Board Chairman Boynton Beach eRA As of 2009, an estimated quarter of the Earth's population uses the Internet, with over 251 ,000,000 browsers logging on in North America. Noting these phenomenal statistics, the Boynton Beach Community Redevelopment Agency (CRA) has expanded its accessibility to residents, businesses, and both current and potential partners with a multi-pronged approach to online communication that uses technology-assisted tools such as Twitter, Podcasts, YouTube videos and virtual tours of the CRA district. Thanks to advances in digital technology and the evolving social media scene, the opportunities to forge closer connections with members of our community and other key audiences have never been greater. Some of the digital tools the CRA has implemented this year to inform our audiences are: . Twitter, htto://twitter.com/bovntonbeachcra, a free social networking and micro-blogging service that enables the CRA to send instant messages and updates known as "tweets." . Podcasts of CRA Board Meetings held the second Tuesday of every month in the City Commission Chambers. The audio and video broadcasts of the meetings are available on the CRA Web site (www.bovntonbeachcra.com) for playback on personal computers and mobile devices. . Virtual tours of the CRA district on the CRA Web site with aerial and street- level views of key areas and projects. Three tours, which can be accessed on the CRA Web site home page, are customized to meet the individual interests of residents, business owners, investors and developers. . YouTube and CRA Web site-based videos spotlighting CRA-related stories of interest such as the CRA Police Unit's Teen Police Academy and City Commissioner Marlene Ross describing the city's new green initiatives. -cont'd- I The economy hits everyone in Boynton Beach, organizations and groups fight through it Sun Sentinel Mike Rothman on July 24, 2009 at 10:50 AM / t I ~ -- Local business owners sign up for CRA's Video Program at the July 30 "Merchant Mingle" The economy has hit all facets of Boynton Beach and Palm Beach County, leaving various agencies and organizations having to reorganize and figure out ways to function more efficiently. Whether it is private citizens donation $1,000 checks to the local soup kitchen, the Boynton CRA promoting businesses in its district or staff from City Hall working one less day per week to save money, absolutely everyone in Boynton is determined to work through the recession. . The Boynton Beach Community Redevelopment Agency is having local business owners seeking survival strategies during the down economy may attend the "Downtown Merchant Mingle," 5:30 to 7:30 p.m. July 30 at the Boynton Beach Woman's Club, 1010 S. Federal Highway. Margee Walsh, CRA spokeswoman, said the event is free hosted by the CRA, the Greater Boynton Beach Chamber of Commerce and the city. The event will showcase economic resources available to assist businesses located in the downtown area, such as free marketing programs, discounted advertising and funding opportunities. Information will also be available on how to sign up for the CRA's new Downtown Economic Marketing Program, free to all businesses located within the CRA district, developed to assist merchants in promoting their products and services. The new program includes on-camera interviews of store owners, vide oed by CRA staff, edited and linked, along with still photos, contact information and description of the business, and uploaded to the "CRA District Google Map," web pages, which are currently under development and scheduled to go live in the next few months. Lisa Bright, CRA Executive director, said she is well aware of how many businesses are struggling to stay afloat, with approximately 500 registered in the CRA's 1,650-acre district. . City Hall, 100 E. Boynton Beach Blvd., moved to a four-day workweek June 12 because of the struggling economy. Employees work four, 1 O-hour days and City Hall will be open an additional hour each day Monday to Thursday, under the new schedule. City Manager Kurt Bressner cited that Coconut Creek, Margate and North Miami have all gone to the four-day week already, and moving to the four-day week could save more than $100,000 a year in utility, custodial and fuel costs. Wayne Segal, city spokesman, said after the first month, the employees and residents seem to like the shorter week with longer days. "It is too early to see how much we will save, but we have an extra day off work and residents can come in before or after work to pay bills," Segal said. *The Boynton Beach City Library, 208 S Sea crest Blvd., and Boynton Beach Recreation and Parks Department have seen an increase in activity as residents look for cheaper alternatives to entertainment. ~ . "All of these technologies offer fresh, inventive ways for the agency to reach people who want to stay in-tune with new developments within Boynton Beach's CRA district," said CRA Executive Director Lisa Bright "Whether it's a Pod cast video or just timely, updated information on our Web site, we're using every available means to get our messages out and open UP the channels of communication that encourage feedback and participallor 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 ' ### Boynton Beach Mayor Jerry Taylor is Board Chairman of the Boynton Beach Community Redevelopment Agency. The CRA guides redevelopment activities that create a vibrant downtown core and revitalized neighborhoods within the Agency's district comprised of 1,650 acres along the eastern edge of the City of Boynton Beach 2 Thft ^^~___... L!.L_ _ , ,I; /, ,\/~ I /'~~' '"'.. f' ....... 1!~~~Y~Te~ eRA . East Side""West S'lde""Seaside Rena'lssance eRA BOARD MEETING OF: September 8, 2009 I ! Consent Agenda I Old Business New Business Public Hearing I X I Otber SUBJECT: CRA Media SUMMARY: Attached 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. Also included are articles resulting from press releases and the monthly Google Analytics statistics for the number of individuals viewing the monthly Board Meeting PodCasts: Releases: * Boynton Beach Police and CRA Unit Host Teen Academy (817) *Earth Friendly Dry Cleaner A Breath Of Fresh Air In Boynton Beach (8/20) *Boynton Beach CRA Connects with Online and Social Media (8/27) Articles: *The economy hits everyone in Boynton Beach, organizations and groups fight through it (Merchant Mingle) Boynton Forum (7/24) *CRA helps residents open the door to homeownership Forum Publishing Group (8112) *It's a lather and shave the old-fashioned way at barbershop Sun Sentinel (8/19) "Boynton Beach CRA connects through social networking sites Boynton Forum (8/26) Goof!le Analvtics ReTJort- Monthlv PodCast Viewers: * August 1 - Sept. 1, 2009 195 hits FISCAL IMP ACT: None CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan Karen Abramso', I,Drarv SOOKeswoman, said the library's increase is up dramatlccl'" 'It IS remarkable tne number of people out of work and our computers are always swamped. Vve nad a program tor finding a job recentlv then was very wel! received," she said, "J mean people are just always in here u~;n9 our comDuters trYing to find jobs Library executive director Craig Clark said with the unemployment rate above 10 percent 1/1 f...'(llloa trlt' iII)J8r'.' ila~. seen 6,666 computer hours used In clune with Fridays off "We have also seen 30,000 people come into the library in June, which is a 14 percent increasE' from last year he said. The library also had 35 000 Items checked out in June, which Clark said was an 18 percent Increase from last year * The Soup Kitchen at 8645 W Boynton Beach Blvd., feeding 400 to 500 empty stomachs a day has also seen a dramatic increase in people comlnp If Enrique Zuanetto, the kitchen s executive director, said last year he had 182,379 people come in tor meals That was 24 percent up from 2007 and 49 percent up from 2006. This year, in only seven months, he has had 110,000 people come in for meals, In addition, he said the community has come out in full force, donating $1,000 and $2,000 sometImes out of pocket * The Schoolhouse Children's Museum, 129 E Ocean Ave., has seen a very busy summer, maybe the busiest in years, said Kelsey Harris, director of operations "I think it might be because people are finding out how accommodating and affordable we are to groups," she saKi "Children are only $3 per person and we advise one adult to come with six children, and that adult is free per six' She said the museum is also starting to get its name out there as affordable entertainment The museum also gives reduced rates to help groups like Kids in Distress and other organizations in the area that want to bring children out to learn about Florida History Mike Rothman can be reached at mkrothman@tribune.com eRA helps residents open the door to homeowners hip MIKE ROTHMAN Forum Publishing Group August 12. 2009 Kyza Green got a loan for $100,000 to buy her first home in Bovnton Beach, The only problem was the home was listed for $166,000 and she did not have the extra money. Through the Bovnton Beach Community Redevelopment Agency's Homebuyer's Assistance Program, she was given $35,000 to complete the purchase of the three-bedroom home that was built last year. "It has everything I need with two stories, a garage, carpet upstairs and tile down," Green said. "They stuck with me and if not for them, I would not have a home today," Stories like Green's caught the attention of the Florida Redevelopment Association. The FRA recently recognized the Bovnton Beach Community Redevelopment Agency in its housing strategies publication, Affordable Housing Tools at a Glance. The association used the Boynton CRA as a detailed case study on creating and preserving workforce housing, dedicating eight pages out of the total 40 to the city's housing initiatives. The CRA's HAP program, Direct Incentive Program for Workforce Housing and Residential Improvement Grant program were listed as examples of specific activities and programs that increase the production of affordable housing. To date, 29 HAP units have closed, utilizing more than $1 million in CRA funds, and another seven are expected to close before the end of the year. Lisa Bright, CRA executive director, said the FRA is a trade association covering 141 CRAs throughout Florida. "They educate the people on exactly what CRAs do and why," she said. Bright said the CRA set aside $8.5 million of dedicated funding for the HAP program when it began a handful of years ago. The Boynton CRA also caught the eye of the FRA with its housing study conducted with the help of Florida International Universitv. "We are also trying to change the look of affordable housing and break the stereotype," Bright said, "These people living in affordable housing are professionals, like teachers and police." The CRA was one of only three other agencies In the state acknowledged by the FRA for these case studies, James Carras, FRA executive adviser and chairman of the housing committee, said that Bovnton Beach understands the roles of community, city, county and private development organizations, and leverages those relationships for the good of its residents. Carras said the CRA took the next step and applied its own local funds, not state or federal dollars, to exceed what other CRAs have been doing in providing housing initiatives that aid residents within their districts, Vivian Brooks, CRA assistant executive director, has been directly involved in writing the city's zoning code, along with CRA and neighborhood plans. The FRA was so impressed with the Boynton CRA that Brooks will speak in October in Orlando at a FRA conference. The CRA's Homebuyer's Assistance Program provides up to $50,000 in payment assistance to low- and moderate-income families purchasing a home in the CRA district. 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 many first-time homebuyers can afford, There are financial qualifications for the program. For example, a family of four making $60,000 or family of three making $40,000 would qualify. The CRA's Residential Improvement Grant and the Direct Incentive Program for Workforce Housing also make housing accessible and affordable to low- to moderate-income residents. For information, call 561-737-3256 or visit www.bovntonbeachcra.com. Copyright @ 2009, South Florida Sun-Sentinel I It's a lather and shave the old-fashioned way at barbershop MIKE ROTHMAN Forum Publishing Group August 19, 2009 ~ Robert Finley has been cutting hair for more than 40 years. After he finished with the Navy in 1965, he went to barber's college in Miami and began his career in the industry. Eight years ago, he took over Gentleman's Choice barbershop at 558 E. Woolbright Road. Recently, the Bovnton Beach Community Redevelopment Agency took on Gentleman's Choice for its Downtown Economic Marketing Program. Margee Walsh, CRA spokeswoman, said the shop reminds her of a Hemingway novel, with its wood- trimmed interior and fishing photos hanging on the walls. The CRA's economic program is trying to vitalize the downtown area of Bovnton Beach and get the economy moving again through local businesses. Finley said he wanted to give the shop an old-fashioned feel of a 1950s barbershop. He has chairs from the '50s with black leather and chrome, as well as an oak floor. "I have a 9-foot marlin on the wall and pictures from the inlet," he said. Finley said the displays on the wall continue to grow, with customers coming in and adding pictures from their own collection. / I Walsh said it gives professional men the opportunity to sit back, relax with a shave or cut, while getting away from the rat race of everyday life. The barbershop caters to only men and OOVS and orlces start at $15 for a cut The shop is open from 8:30 a,m, to 5 p,m Monday through Friday, with late-night openings till i p r, Wednesday and Thursday. It Is also open from b a.m to 4 pm Saturday but is closed Sunda\ Before owning Gentleman's Choice, Flnlev had a snop in the Town Center at Boca Raton called' Cut Above, "I love the relationships you build with being a barber," he said, "You get to know your clients and g8' to know everyone in town." For information, cail 561-742-430C Boynton Beach eRA connects through social networking sites Forum Publishing Grou~ August 26, 2009 As of this year, an estimated quarter of the Earth's population uses the Internet, with more than 251 million browsers logging on in North America, Noting these phenomenal statistics, the Bovnton Beach Community Redevelopment Agency has expanded its accessibility to residents, businesses and both current and potential partners with a multi-pronged approach to online communication that uses technology-assisted tools such as Twitter, Podcasts, YouTube videos and virtual tours of the CRA district. Thanks to advances in digital technology and the evolving social media scene, the opportunities to forge closer connections with members of our community and other key audiences have never been greater. Some of the digital tools the CRA has implemented this year to inform our audiences are: . Twitter, www.twitter.com/bovntonbeachcra. a free social networking and micro-blogging service that enables the eRA to send instant messages and updates known as "tweets," . POdcasts of CRA board meetings held the second Tuesday of every month in the City Commission chambers, The audio and video broadcasts of the meetings are available on the CRA website ( www.bovntonbeachcra.com\ for playback on personal computers and mobile devices, . Virtual tours of the eRA district on the CRA website with aerial and street-level views of key areas and projects, Three tours, which can be accessed on the CRA website home page, are customized to meet the individual interests of residents, business owners, investors and developers, . YouTube and CRA website-based videos spotlighting CRA-related stories of interest, such as the CRA Police Unit's Teen Police Academy and City Commissioner Marlene Ross describing the city's new green initiatives. "All of these technologies offer fresh, inventive ways for the agency to reach people who want to stay in-tune with new developments within Bovnton Beach's CRA district," said CRA executive director Lisa Bright. 'Whether it's a Podcast video or just timely, updated information on our website, we're using every available means to get our messages out and open up the channeis of communication that encourage feedback and participation." For Information on the eRA, lts events and activities, call 561.137~3256, or visit WWW.bovntonbe8chcra.com. New dry cleaner is Boynton's second green business J > Posted by Mike Rothman on August 25. 2009 at 12: 11 PM 2 With going green the new trend in business, Evan Whelan decided the timing was right to open Eco Green Cleaners Corporation, 520 E. Woolbright Road, which is the second green business in Boynton. Whelan said the idea for the green dry cleaners came by chance. "I was researching businesses and a lot of people were complaining about the chemicals left on their clothing," he said. "The chemicals are just not good for the environment." In fact, Whelan said regular dry cleaners couldn't even be located next to certain businesses like a supermarket because of the chemicals. Margee Walsh, Boynton CRA spokeswoman, said with Eco Green, customers could pick up their garments packaged in biodegradable plastic bags. She said that customers' dry cleaning comes back to them without the petroleum-based smell found with chemicals that many traditional cleaners might use. Whelan formerly worked as a commercial real estate broker, but decided he wanted his own business. After research, Eco Green opened its doors Feb. 11. Whelan said the added benefit of offering a product that is beneficial to his client's health, as well as good for the environment, is a plus. His business used water-based chemicals as opposed to PERC. PERC, also known as perchloroethylene, is the main solvent used by 95 percent of dry cleaners. While commonly known as a cleaning agent, it also appears in consumer paint strippers. Use of the chemical has been outlawed in California, New York and Germany, and Florida is considering a ban. Whelan uses Dry Solve, a liquid silicone and water-based solvent that is more expensive than PERC but not considered hazardous, toxic or flammable. The extra cost of the Dry Solve does not carry over to the customer, Whelan said. He said the average cost for dry cleaning at Eco Green is $3.99, which is common in the industry. They also launder shirts for $1.89. Hours of operation are from 7:30 a.m. to 6 p.m. Monday through Friday and from 9 a.m. to 3 p.m. Saturday. For information, call 561-424-0200. Mike Rothman can be reached at mkrothman@tribune.com. J ') .../ WIW!.llovntonbeachcra.com Content Drilldown Aug 1, 2009 - Sep 2, 2008 Comparing to: Sil . Pagevlew~ ~I ' - August 3, 2009 August 10,2009 Auaust 17 20C.: August24,2009 Augua131,2OC 19 pages were viewed a total of 195 times Filtered for pages containing "video' ....... Pegeviews ~~~~~'ews ~~8e Time on Bounce Rate % Exit $ Index 195 35.90% 33.33% $0.00 % of Site Total: 159 00:01 :38 Site Avg: Site Avg: Site Avg: 4.70% % of Site Total: Site Avg: 51.12% (~29.78%) 38.73% (-13,93%1 $0.00 (0,00%) 4.81% 00:01:21 (21 77%) Page Pagevlews Unique Avg. 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':'li C>_ Icraoverview~ videos - 31009 _p4,php 00:00,00 0.00% lOll !!:i "I.},O," "I; 2 Google Analytlcs XI. OLD BUSINESS: A. Continuation of FY 2009/2010 Budget Discussion ,. 11IIf~t~Te~ C Ii East Side-West S'ide-Seaside Rena'lssance eRA BOARD MEETING OF: September8,2000 I I Consent Agenda I X I Old Business New Business Public Hearing Other SUBJECT: Continuation ofFY 2009/2010 Budget Discussion SUMMARY: . At the August 11, 2009 meeting, under Board comments, Chairman Taylor stated that the Board would provide direction as to the scenario to be utilized in preparation for the September 29, 2009 meeting to approve the final budget for FY 2009/20 I O. . The attached Budget Projection worksheet includes the August 10, 2009 Budget Workshop priorities as well as the City Commission's direction on September 1,2009 to al10cate $50,000 to the CRA Community Policing Program. The Project Options listing provided at the August 10, 2009 CRA Budget Workshop is also included discussion. . Also attached is an article focused on the importance of CRA's as local economic stimulus generators, FISCAL IMPACT: N/A CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS: Provide direction for final CRA FY 2009/2010 budget approval on September 29, 2009. ~~ Susan Harris Finance Director T:\AGENDAS. CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2008 - 2009 Board Meetings\9-a-09 Meeting\Budget Discussion FY 09-10.doc Meeting Minute, Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Ms. Ross requested an explanation relating to the letter from James l. Oberstar, Chairman of the Committee on Transportation and Infrastructure, advising that Florida had fallen far behind other states in utilizing the Recovery Act highway formula funds. Ms. Bright explained Governor Crist had been holding the Federal Stimulus funds. However, she believed Eric Eichenberg, Chief of Staff aide to President Obama, personally telephoned the Governor requesting the funds be releasee In response to the request of Ms. Ross, Ms. Brooks advised she had spoken with Dr. Rose on August 10, 2009, and the non-profit community clinic would be occupying 5,800 square feet of space at Yachtsman's Cove. Chair Taylor noted September 9, 2009 would be the last CRA Board meeting to be held prior to the City's final budget hearing of September 29, 2008. The Board had not provided direction to Ms. Harris at the August 10, 2009 workshop as to the scenario to be utilized by the Board. Chair Taylor, therefore, suggested direction be provided to Ms. Harris at the September 8,2009 eRA meeting. The Board concurred, XVII. Adjournment There being no further business to discuss, the meeting properly adjourned at 8:19 p.m. ~~ 0,--- Stephanie D. Kahn Recording Secretary 081209 14 ~~..~ Assessed Valuation Reduction = 11% FY 08-09 FY 2008-2009 Assessed Valuation Reduction = 19% FY 09-10 Bud et Scenario 1 Scenario 2 Scenario 3 Current Millaae Millaae Rates ProDosed Millaae Mid Point IFY2008-20091 City 7.300 6.700 6.4553 County 4.344 4.290 3.781t Projected TIF $ 7,331,489 $ 6,919,707 ~ 6,445,2t3 TIF True Up 231,489 172,993 161,130 Total TIF Revenue ~ 8,300,000 $ 7,100,000 $ 6,746,7t4 . 6.284,083 Marina Revenues 1.287,500 775,500 775,500 775.500 Sub-Total 9,587,500 7,875,500 7,522,214 7,059,583 Other Fundina Sources Miscellaneous Income 365,000 $ $ Encumbered Funds 3,400,000 Encumbered Funds - HOB Project 1,002,800 Proceeds from Sale of Property ~ Oceanbreeze Lots 600,000 EncumberedProject Fund - CRALLS Transfer 100.000 Encumbered Bond #2 Proceeds 500,000 150,000 Project Fund Rollover - FY 06/07 100.000 Project Fund Balance Rollover 400 000 Total Other Funding Sources 2,352,800 THlI_UW...Wt!lli....;_...... . S 9,412 3 Less: Oneratina EXDenses and Debt Service Debt Service $ 3,066,581 $ 3,119,526 $ 3,119.526 $ 3,119,526 eRA Fixed Operating Expenses 2,527,000 2,186,723 2,186,723 2,186,723 Marina Operating Expenses 1,287,500 775,500 775 500 775 500 Sub-Total Operating Expenses 6,881,081 6,081,749 6,081,749 6,081,749 FUNDS AVAILABLE FOR PROJECTS/PROGRAMS $ 6,971,419 $ 4,146,551 $ 3,793,265 $ 3,330,634 HOB Pro'ect $ 1,716279 HAP - Oceanbreeze HAP - CRALLS Fundin 0 HAP - Bond #2/RTG Lots 700,000 2000,000 300 000 475345 734 795 '~, 270,000 Dasi n & En ineerin 390,000 145,000 Direct Incentive Fundin A rmt.~ The Prese/Ve 0 100,000 Grants - RIP 160000 100,000 Ca ital Ac uistion Rollover FY 06-07 0 100 000 Grants - Commercial Fa ade 75000 75 000 Le al-Pro.act Based 75,000 75 000 Site Work & Demolition 75000 50,000 6000 Total 6,971,419 4,626,165 SURPLUS/DEFICIT $ $ 479,614 $ 832,900 $ 1,295,531 ~JIlli"""""'" Wiil#lll1ili'fijIl.~lloil8l'lOt09: ,. Increased Speciai Events by $5,000 2. Added line item place marker for Old High Schooi - $500,000 3. Reduced Pollee by $50,000 re COPS Grant 4. Added Marina construction phasing - $500,000 B.....'". ,to.. =. II... =. );....cm. .. G..RA..' ..' "..~2MO!.__ W...... Ptei~'8m Optiena I Program/Pro!ec, hrolley 1. SE Route. 2 days/wee~ Annual Cost Seasonal Cost 2. SE Route + Leisureyille . 2 days/weel< Annual Cost Seasonal Cost 3. Both SE & SW Routes. 2 days/week Annual Cost Seasonal Cost 4. SE Route 2 days +SW 1 day Annual Cost Seasonal Cost '---.----.T- Est. Annual , ---+- (Cost)/Savings Fare Collection SayinQs North Route Only 50 Cent Fare (4% in Year 2) $100 Fare (10% in Year 2) iJ (56,335) ,[, :f (45,268) $ (70,000) ~ (57,505) $ (125,000) $ (102,866) $ (83,218) $ (67,000) Year 1 Net Year 2 Net $ $ 1211 E. Ocean 1 . Land Bank 2, Renovate/Addition 3. Lease as Residential 4. Sell 5. Create Public Sculpture Garden IOcean Breeze 1, Sell East Side 2. Site Plan & Development - West/East Side 3. Land Bank I $ $ $ $ $ I $ $ $ ILand Acquisition 1. Opportunity Buys Adjacent to Complete Assemblages: * Sara Sims Park Expansion * MLK Corridor * 4th/5th Street I Downtown Public Market 1. Planning, Grant Consultant, Infrastructure (11,449) $ 20,051 $ (4,571 J 26,939 (903,527) 12,000 500,000 (150,000) 607,500 (1,000,000) All liJ 501118 p0rtion 01 r8nlaintng unencumbelerj F'rujed Fund I $ Ivvpp 16 Passenger Van 1$ --1$ J$ ICommercial Assistance Program ICommunity Caring Center. Building Purchase (250,000) (25,000) (75,000) (100,000) Financing gives eRAs an advantage in the downturn By (pitts Created 08/06/2009 - 20:24 BI' Robert Pitts, Florida Real Estate Journal LAUDERDALE LAKES - The new president of the Florida Redevelopment Association said current problems in the U.S. financial system are having less of an impact on Florida's community redevelopment areas than you might think. J. Gary Rogers, who also serves as executive director of community redevelopment for the city of Lauderdale Lakes, said CRAs around the state are still facilitating business and still looking for opportunities to partner with good developers. While some counties are seeing revenue reductions as much as 20%, most CRAs have dedicated revenue streams, he said, In the case of Lauderdale Lakes, the CRA also has a $7 million line of credit with SunTrust, Rogers said. "The business transaction is defined and in place," he said. "Any good CRA will have an ongoing relationship with a bank. "I can't protest too loudly, given the state were in. Obviously it hurts to have less money and slows the fulfillment of the mission, but it's not a mortal blow." Bonding activity by CRAs is in a lull, Rogers said. The recent Florida Supreme Court case Strand v. Escambia County placed a cloud over CRAs as justices considered whether the organizations had the authority to issues bonds based on tax-increment financing without first gaining voter approval. The court in September ruled that voter approval was not required, thus settling any questions about CRAs' ability to raise funds. But the current financial market turmoil began soon thereafter, Rogers said. ''The challenge will come if things stay tight for the next six months to a year. Then we will have to test our assumptions. We're soon going to be tested when we go to the bank when we need capital for big projects," he said. In the meantime, Rogers said, the situation has actually generated the perfect storm for CRAs, putting them in the position to be local economic stimulus generators. All but ignoring them dunng tne most recent economic boom, developers are once again taking notice 01 CRAs ne said "My phone is ringing more now in a down economv than it ever did at the height of the market," he said. "The CRAs have come tnrough this storm to say here we are - in place and dedicated to local circllmstallces and goals "It's up to us to guide the local economy on the Dack to health. and I think were in a position to do that," he added, "I'm hoping the CRAs come back through this cycle having built a greater awareness of our strengths and capabilities." XI. OLD BUSINESS: "1l. Reconsideration of Lease Renewal with Glaston Sims d/b/a Alex Sims Barber Shop \ t" , ",,,~)~"JJJl'_, -""",,~^. " .~,~~:>,} .':,;~ ' 1~~<tY~Te~lC RA . East Side-West Side-Seas'lde Rena'lssance eRA BOARD MEETING OF: September8,2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: Reconsideration of Lease between the CRA and Glaston Sims d/b/a Alex Sims Barber Shop located at 909 N. Seacrest Boulevard SUMMARY: At their meeting held on July 14,2009, staff presented various options to the CRA Board for their consideration regarding the lease renewal with Glaston Sims d/b/a Alex Sims Barber Shop for the property located at 909 N. Seacrest Boulevard. The Board unanimously voted to honor the existing terms of the lease on a month to month basis, for the yearly rental amount of $10.00, and to provide Mr. Sims with the continued right to sub-lease the building's second retail bay to Ruby's Beauty Center (see attached meeting minutes, verbatim minutes and agenda cover). Subsequently, under the Public Comment portion of the August 11, 2009 CRA Board meeting, Ms, Evangeline Mack-Sullivan, co-owner of Ruby's Beauty Center, spoke of her concerns regarding the terms of the lease between Mr. Sims and the CRA. At the conclusion of Mrs. Mack-Sullivan's comments, Board member Rodriguez asked that the item be brought back before the Board for reconsideration (see attached meeting minutes and verbatim minutes). BACKGROUND: 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 4,800sf parcel of land with a 1,095 sq. ft. 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 $10.00. The lease terms provide 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. FISCAL IMP ACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan and Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Provide Staff recommends the following options: 1. Continue under the current lease and terms on a "tenancy at will, on a month to month basis." 2. Negotiate new lease terms establishing a new rental rate and subletting abilities. a. Lease to each tenant at rate of$10.00 per year b. Lease to each tenant at current rate of$L30 sq. ft. or roughly $1,423.50 total rent per month. 3. Terminate the lease and fInd new tenants. 4. Terminate the lease and sell the property. ~~-/~.---: Michael Simon, Development Manager T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-8-09 Meeting\Sims Barber Shop-Lease,doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida July 14, 2009 than what the Board was paying, At the end of the Avenue of the Arts exhibit, many of the artists prefer to sell the piece as opposed to shipping the piece to another location before the replacement arrived She indicated Ms Brooks had a place to store the art. If the Board wanted to approve paying for a pad to move the piece, it could be publicly displayed. The cost for the pads was between $7,000 and $10,000 Vote The motion passed unanimously, D, Consideration of lease renewal with Glaston Sims d/b/a Alex Sims Barber Shop In June of 2005, there was a purchase agreement that was approved by the Board, At the time, the property had two owners. There was 4,800 square feet of space. As part of the acquisition, staff included a leaseback agreement with the barber shop to remain at a cost of $10 per year. The tenant was afforded the right to sublet the second bay to a beauty center. The former director had initiated the arrangement, which was part of the City swap for Sara Sims Cemetery and Park, Staff was requesting the Board consider selecting one of the five recommendations offered and wanted to amend the strategic parks plan with the City to officially have a comprehensive amendment for the Sara Sims Park/Heritage Parf<., The Community Redevelopment Agency cannot spend funds withoul having the acquisition in a redevelopment plan. Guam Sims, 3021 S. Sea crest Boulevard, explained his family originally was in agreement with the idea of relocating the barber shop for the mixed use project in the MLK area. They intended to continue to operate the business. He conveyed his father was appreciative of the original lease, which allowed him to operate the barber shop which was in existence over 30 years and they preferred the original lease terms, Mr, Sims reported his father took great pride in maintaining the building, and his father did not want to impede development The sublease yielded $600 per month. There was discussion the Community Redevelopment Agency owned the property, On the Glaston property, they were paying $3,800 in taxes. They pay $300 per year for solid waste service. If staff rents the property for over $10 per year, the taxes would be about $3,500 per year Motion Vice Chair Hay moved to continue with the original lease with the $10 per year with the understanding it would be a month-to-month lease 50 the City could move forward when they were ready to expand Sara Sims Park, (Recommendation #3) Mr. Rodriguez seconded the motion that unanimously passed. E, Appraisal of property located at 201 NE 91h Avenue - Michael Villamarin 16 1 1 2 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY 3 4 5 JULY 14, 2009 6 AGENDA ITEM 7 OLD BUSINESS 8 ITEM D 9 CONSIDERATION OF LEASE RENEWAL WITH 10 GLASTON SIMS DBA ALEX SIMS BARBER SHOP 11 12 13 APPEARANCE 14 Jerry Taylor, Chair 15 Woodrow Hay, Vice Chair 16 Jose Rodriguez 17 Ron Weiland 18 Marlene Ross 19 Lisa Bright 20 Susan Harris 21 TRANSCRIBED BY 22 JAN CORREGGIO, CER, FPR New Wave Depo, LLC 2385 NW Executive Center Dr., Suite 100 Boca Raton, FL 33433 (561) 483-2111 23 24 25 New Wave Depo LLC www.newwavedepo.com - July 14, 2009 1 MR. TAYLOR: Item D, consideration of the lease renewal 2 with uh, Glaston Sims, Alex Sims Barber Shop. 3 MR. SIMON: Good evening board again, Mike Simon 4 Development Manager. Uh, the item before you uh, this evening is 5 to consider the urn, consideration of the lease renewal with the 6 Gaston Sims urn, DBA Alex's Barber Shop located at 909 North 7 Seacrest Boulevard. 8 Um, June 9th of 2005, urn, the purchase agreement was 9 approved to purchase the property at 909 North Seacrest in the 10 amount of 223,725. Urn, at the time the property was owned by urn, 11 three Sims brothers, Gad -- Glaston, Jivaro and Guarn. The 12 property consists of a parcel, kind of an irregular shaped 13 parcel, about 40 hun 4800 square feet of land with a two bay, 14 almost 1100 square foot concrete block building that houses a 15 barber shop and a beauty salon. 16 Uh, as part of the acquisition it included a lease back or 17 a lease agreement urn, with the barber shop uh, to remain in an 18 annual lessee of $10. Um, some of the lease terms that are uh, I 19 guess significant to mention at this time are they, urn, it 20 provided the, the tenant the right to sublet the second bay urn, 21 to Ruby's Beauty Center and it continued to collect uh, rent on 22 that property. The maintenance, insurance and utilities are 23 responsible urn, uh, by the tenant. The uh, recommendations uh, 24 that staff are giving to you are below -- there's five and, and 25 I guess, theoretically there could be offshoots of those but urn, New Wave Depo LLC www.newwavedepo.com - July 14, 2009 3 1 you can renew the lease uh, currently under the same conditions 2 for another year, you know the $10 including the ability to 3 sublet the second bay. Uh, you could negotiate new terms and 4 establish a new rental rate and subletting abilities. You could 5 continue under the current lease uh, on a month to month until 6 at such time you decide to, to do something else with the, the 7 building. That's what the lease is reverted to uh, at it, at 8 it's uh, initial term on a month to month basis. Uh. terminate 9 the lease and find a new tenant or tenants or terminate the 10 lease and sell the property. I believe um yes, sir. 11 MR. RODRIGUEZ: 2005 it was purchased, it says. What's. 12 what's the plans for this building? I mean 13 MS. BRIGHT: It was part of Sara Sims Park acquisition and 14 land swap. 15 MR. RODRIGUEZ: We just didn't buy it -- we didn't just buy 16 it to lease it out for ten bucks. What was the plan? 17 MS. BRIGHT: It was, just what I said, the former director 18 um, is part of the HOB, what was called Phase One uh, 19 redevelopment. Um, one of the things we'll be bringing forward 20 to the board is the land swap. This is one of the parcels that 21 was originally um, gonna be the end perimeter and then we're 22 gonna have the whole Sara Sims Heritage Park and Burial Grounds 23 be a larger comprehensive area. So it was, it was available, it 24 was bought, Mr. Sim's barber shop was supposed to be relocated 25 to the corner of MLK and Seacrest in a mixed use project that New Wave Depo LLC www.newwavedepo.com - July 14. 2009 4. 1 was supposed to occur there. That was -- 2 MR. WEILAND: The $10 a lease (indiscernible) 9:08:49. 3 MS. BRIGHT: You'd have to speak to Mr. Sims directly, it 4 was negotiated by Doug, I wasn't part of the transaction, I 5 wasn't on board. None of this current eRA staff was. 6 MR. RODRIGUEZ: You have the contract don't you? 7 MS. BRIGHT: I have the contract but I, I -- 8 MR. RODRIGUEZ: What does the contract say? 9 101 111 MR. TAYLOR: $10. MS. BRIGHT: $10 is exactly what we do for Jesus House of Worship and all -. all -- all of the leases. So-. 12 MR. RODRIGUEZ: What would be .- 13 MS. BRIGHT: we don't pay tax consequences typically. 14 MR. RODRIGUEZ: So what's the current CRA staff 15 recommendation for this property going forward? 16 MS. BRIGHT: We're going to go back -- we've already met 17! with the parks and rec department, we discussed with the 18 community committee last night, we want to go back to looking at ! 19 amending the strategic park plan with the city to do a 20 comprehensive amendment for the Sara Sims Park, Heritage Park 21 expansion, officially. I don't know why it wasn't done in the 22 parks & rec when they did it originally. I mean we can't, CRA 23 can't spend any money without having it in a redevelopment plan, 24 I think we all know that. 25 MR. WEILAND: Mr. Sims. New Wave Depo LLC www.newwavedepo.com - July 14, 2009 5 5 MR. TAYLOR: Mr. Sims, would you like to speak to us? MR. WEILAND: Do you plan on MR. TAYLOR: Let him, let him, hang on. MR. WEILAND: Well I wanted to ask him a question. MR. TAYLOR: Well let him - - 1 2 3 4 6 UNKNOWN: He's gotta check in. 7 UNKNOWN: His name and address. 8 MR. TAYLOR: Name and address, please. 9 MR. SIMS: Guarn Sims uh, 3021 South Seacrest Boulevard, 10 Boynton Beach. 11 MR. TAYLOR: Thank you. 12 MR. WEILAND: Do you plan on moving the barber shop any 13 time soon. 14 MR. SIMS: Well originally uh, we were certainly uh, in 15 agreement with the idea of relocating the barber shop for the 16 mixed use over on the MLK area. Uh, and what that represented 17 that we still have full intentions to continue to operate uh, 18 the business. And, and we, we all know the delay in, in terms of 19 the development and I'll be prepared uh, to say if, you know, 20 you want to give it back, we'll take it. Uh, where it's 21 currently is but you, you know we und -- you know we clearly 22 understand that, you know, that may not be a possibility but I 23 do wanna convey uh, the message number one, uh from my father 24 who's, who, what, in asked me to say, he's been very 25 appreciative uh, of the original lease that allowed him to New Wave Cepo LLC www.newwavedepo.com . July 14, 2009 "', 1 continue to operate uh, the barber shop which has been there 2 over thirty years uh, still vibrant business, we uh, well 3] maintained, is not a eyesore uh, in any regard, in terms of 4 where it's currently located and we are, you know, also the 5 request to the message is we do request that the eRA Board, you 6 know, allow my father to continue operating. We would prefer 7 uh, the same lease terms as the original lease reads uh, we, you 8 know, we really not in favor of a month to month lease but, you 9 know, we are held to uh. your decision. 10 UNKNOWN: (Indecipherable) 9:11:37. 11 MR. SIMS: I'm sorry? 12 MR. WEILAND: Sub-lease collect (indecipherable) 9:11:39. 13 MR. SIMS: Are you talking uh. about $150 a week, from uh, 14 the salon. 15 MR. RODRIGUEZ: 600 bucks a month. 161 MR. WEILAND: I commend you on the building 'cause I know 17 the building and it sits just south of uh. your nice little 18 handy market next door. 19 MR. SIMS: Right. 20 MR. WEILAND: And uh. you guys, whenever I've been by 21 there. there's no loitering. it's clean. 22 MR. SIMS: Absolutely. 231 MR. WEILAND: It's -- it looks like it's run 24 professionally. 25 MR. SIMS: He takes very. very consistent pride in that New Wave Depo LLC www.newwavedepo.com - July 14, 2009 7 1 regard of making sure uh, that the building is well maintained. 2 Uh, the CRA staff could, could confirm that we've never been 3 tenants of calling the CRA requesting this and requesting that. 4 If there's anything ever wrong with the building he's always 5 took care of it himself, since the lease was initiated. 6 Uh, we were, and I do concur with the, what the Executive 7 Director said in terms of the former executive director with the 8 -- the plan at that time was ex -- ex -- expanding to Sara Sims 9 Park and that was very appealing you know, to my father and the 10 family. We did not want to impede or interfere with that 11 potential development, at that time and that's why he, amongs 12 other reasons, he took the step out, you know, un -- unlike 13 other business owners, he took the step out to be the first one 14 to not, to make sure he was not going to interfere with that 15 potential development which was, at that time, a very good thing 16 for the community, at least the concept. Uh, and, but which also 17 speaks to the fact that he absolutely intends to continue to 18 operate the business, that's why we were, the idea of relocating 19 was a very appealing to him and the family as well. 20 MR. WEILAND: Question for staff, being that we, the CRA 21 owns it, do - - are we paying taxes or -- 22 MS. BRIGHT: That's why the nominal rent, it wouldn't urn, 23 if the board'll recall like we rented urn, The Relax Inn, we had 24 incurred that ridiculous, what was it $20,000 -- explain, yeah 25 explain-- New Wave Depo LLC www.newwavedepo.com - July 14, 2009 1 MS HARRIS: On. on the Relaxed Inn site now we're payins 2 $38,000 a year in taxes because -- 3 MR. WEILAND: Right after the construction phase. 41 MS. HARRIS: And we're only, yes and we're only realizing 5 $600 a month. That's why the DIFA agreement was changed, so we 6 can get that, we can recoup that money by reduction in the DIFA 7 payment to the developer. However, the -- for -- to answer your 8 question on this property, we're only paying about $300 a year 9 for solid waste. Uh, there's something we have to pay if we own 10 a property and there's a building standing, it's minimal. But if 11 we, if we rent at a term over $10 a year we will have to provide 12 the lease to the property appraiser and we will be taxed on that 13 property. And we did find out what that tax rate would've been 14 for this year, about $3,500 a year, so if you decide that you 15 want to charge a rent that's over the, the $10 a year, I would 16 suggest you try and at least recoup what we would have to pay in 17 taxes, 18 MR. RODRIGUEZ: $3,500 is that number? 19 MS. HARRIS: Correct. 20 MR. RODRIGUEZ: Is this the item -- Guarn how you doin? 21 MR. SIMS: I'm fine, how you doin? 22 MR. RODRIGUEZ: Good, I'm not familiar with the, with the 23 business, just, and I'm only going by what I read here, so are 24 you, is your family operating a business or are you subletting a 25 business to someone else? New Wave Depo LLC www.newwavedepo.com - July 14, 2009 9 1 MR. SIMS: No, operating a business and subletting the 2 business in the same structure on the other side, there's a 3 salon. 4 MR. RODRIGUEZ: Okay, so you got your business and then you 5 have another piece that you're subletting? 6 MR. SIMS: Right. 7 MR. RODRIGUEZ: Okay. 8 MS. ROSS: Is that Ruby's Beauty Center. 9 MR. SIMS: That is correct. 10 MR. TAYLOR: I'd be in favor of continuing the original 11 contract, the lease um, with the $10 per year a -- amount and 12 uh, with the understanding that it would be a, a month to month 13 only so that if we, all of a sudden, say eight months from now 14 decide that it's time to expand the Sims Park, that we'd need 15 you to move out, that's the only reason I'd want the month to 16 month. 17 MR. SIMS: We clearly understand that. 18 MR. TAYLOR: Yeah, let's understand that. 19 MR. SIMS: We clearly understand. 20 MR. TAYLOR: So as long as that's understand I'm, I'm uh, 21 in favor of uh, moving forward with the current contract. 22 MR. HAY: And I certainly would concur to that because it 23 is a nice, clean, orderly business, no loitering. It's right 24 across from St. John Missionary Baptist Church and uh, that, 25 that's significant to have a well run business across that New Wave Depo LLC www.newwavedepo.com . July 14, 2009 10 1 street. I wish we could say the same about some others next 2 door. 3 MR. RODRIGUEZ: You couldn't, 4 MR. HAY: Yeah, that's why I get it all cut off. 5 MR. TAYLOR: Is there a motion? 6 MR. HAY: There's a motion, I so move that we uh,. 71 MR. RODRIGUEZ: Second. 8 MR. HAY: Renew the lease at, at, with the current 9 condi tions . 101 MR. TAYLOR: Motion is seconded, any other discussion? All 11 in favor? Did you need to say something? 12 MR. SIMON: I just need to get some clarification, if we're 13 going to renew the lease as the terms were stated for a year or 14 are we just gonna leave it as a month to month. 15 16 17 18 19 20. 211 MR. TAYLOR: We want a month to month. MR. SIMON: Okay. MR. TAYLOR: Month to month, okay. All -- MR. SIMS: Would that, is that -- MR. SIMON: That's number three, that's item number three. MR. HAY: Is that okay with -- MR. SIMS: Yeah, we, we'll accept that, it's not what we 22 prefer but again, we, we, as long as he's 23 24 25l MR. TAYLOR: Yeah, 'cause we can -- MR. SIMS: -- able to continue to operate UNKNOWN: Right, absolutely. New Wave Depo LLC www.newwavedepo.com 23 24 25 11 1 MR. SIMS: -- that'll be fine, we'll take it. 2 MR. TAYLOR: All in favor? 3 THE BOARD: Aye. 4 MR. TAYLOR: All opposed? So the motion __ 5 6 7 8 CERTIFICATE OF TRANSCRIPTION 9 10 STATE OF FLORIDA 11 COUNTY OF PALM BEACH: 12 13 The above and foregoing transcript is a true and 14 correct typed copy of the contents of the file, which was 15 previously recorded in the proceeding identified at the 16 beginning of the transcript, to the best of my ability, 17 knowledge and belief. 18 19 20 21 22 y 1 . t'" (~V:)Y Jan Correggio, CER Notary Public, State of Florida My commission #DD7l5994 New Wave Depo LLC www.newwavedepo.com ff_~qY~T2~ICRA ~ East Side..... West Side.....Seaside Renaissance eRA BOARD MEETING OF: July 14,2009 I I Con.ent Agenda I X I Old Bu./ne.. I_L.. New Bu.lne.. I I _..-"------..-~ Legal I Other --~J SUBJECT: Consideration of Lease Renewal with GlastOIl 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 $223,725. The property was owned by Glaston Sims, Javaro Sims and Guam Sims. The property consists of a 4,800 sf parcel of land with a 1,097 sf concrete block building housing a two bay barbershop and beauty salon. Acquisition of the property included a lease agreement between the CRA and Glaston Sims, d/b/a Alex Sims Barber Shop to remain in operation at the annual lease amount of$IO.OO. 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 10, 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 eRA owned propeliies which are leased at a nominal fee (Jesus House of Worship). Rental rates of a nominal fee prevent the eRA from incurring exorbitant real estate taxes for attempting to collect market rents (recall the CRA tax liability for tbe Relax Inn Site (SW corner Boynton Beach BoulevardlFederal) FISCAL IMPACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan and Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Staffrecomrnends the following options: I. ReneW the lease set forth under the current terms of$10.00 per year including the ability for the Tenant, Glaston Sims to sublet the second bay. 2. Negotiate new lease terms establishing II 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 find a new tenant. 5, Terminate the lease and sell the property. <.. --- iehael Simon, Development Manager T:\I\GENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompl.ted Ag.nda Item Reque't Forms by MeetinglFY 2008 - 2009 Bo.rd M..tlngsI7-14.09 M..t1ngll.... r.n.wal Sims S.rb.r Shop,doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida August 11, 2009 Lisa Bright, Executive Director, noted of the 100 attendees, 47 owned businesses in the CRA district. Armelle's Supermarket was utilizing the design services of REG Architects, and the market would be expanded to include fresh vegetables and flowers. Staff was working with the City to determine whether Code issues could be resolved with the market. Scully's Restaurant had previously received a fat;;ade grant and as such, would not be eligible for another five years. Ms. Ross believed many of the merchants who had signed up to partake in available services were interested in utilizing the CRA's video marketing program to promote their businesses. Margee Walsh, Marketing Director, indicated approximately 10-15 business owners had signed up at the event for the video program and approximately 75 had been taped to date. IX. Public Comments: (Note: comments are limited to 3 minutes in duration) Mark Karageorge, 240A Main Boulevard, noted he had received positive feedback on the "Downtown Merchant Mingle." A number of the merchants had expressed delight in the CRA's video program which was free of charge. Conversely, Comcast had approached Kevin Scully, offering an on-camera interview at a charge of $1,500. In response to ongOing requests of the business community, the event had established that the City, CRA and the Chamber were partnering to retain and assist businesses and develop new businesses in the CRA district. Evangeline Mack-Sullivan, co-owner and operator of Rubie's Beauty Center, noted she had been subleasing a portion of the Sims Barber Shop and had been paying $160 per week to Mr. Sims. She inquired why she would be paying this amount to the tenant when the CRA owned the property. Mike Simon, Development Manager, advised the CRA had been leasing the property to Mr. Sims at an annual rate of $10. While the terms of the original contract allowed Mr. Sims to sublet the property, the Board was not aware the subtenant had been leasing the premises for $160 per week. At the last meeting, the Board had discussed a lease renewal with the barber shop. The Board had taken action to continue the original lease with Mr. Sims at the rate of $10 annually, with the understanding that the lease would be on a month-to-month basis. In this way, the City could move forward to expand Sara Sims Park when it was deemed appropriate to do so. Mr. Rodriguez suggested the action taken by the Board be reconsidered. The Board agreed, and staff was directed to place the item on the next agenda for reconsideration. 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 ---,-- -- BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY AUGUST 11TH, 2009 AGENDA ITEM PUBLIC COMMENT DISCUSSION OF LEASE AGREEMENT WITH GLASTON SIMS DBA ALEX SIMS BARBER SHOP APPEARANCE Jerry Taylor, Chair Woodrow Hay, Vice Chair Jose Rodriguez Ron Weiland Marlene Ross Lisa Bright Shana Bridgeman TRANSCRIBED BY JAN CORREGGIO, CER, FPR New Wave Depo, LLC 2385 NW Executive Center Dr., Suite 100 Boca Raton, FL 33433 (561) 483-2111 New Wave Depo llC www.newwavedepo.com - August 11, 2009 2 1 MS. SULLIVAN: My name is Evangeline Mack 2 Sullivan, I'm co -- co-owner and the operator of Ruby's 3 Beauty Center in Boynton Beach. Um, I'm -- my question 4 is uh, I'm leasing property zoned by CRA and it's been 5 brought to my understanding that CRA doesn't charge for 6 leasing property, but I'm paying a lease. And as a 7 licensed, tax paying citizen of Boynton I wonder how was 8 the bid -- you know, the bids was sold with my you 9 know, I'm a tenant in the uh, building without 10 without my uh -- without contacting me. I own a license 11 within the city of Boynton. 12 MR. TAYLOR: Aren't you operating off the 13 Pantry's property? You say you're Rufus Ribs. 14 MS. SULLIVAN: No Ruby's -- Ruby's Beauty 15 Center. 16 MR. TAYLOR: Ruby, oh I'm sorry, I miss -- I 17 misunderstood you. What is it, Ruby's. 18 UNKNOWN WOMAN: It's in Mr. Sims Barber 19 Shop. 20 21 22 23 MS. SULLIVAN: Ruby'S Beauty Center. MR. HAY: It's in the uh -- in the UNKOWN MALE: Sim's Barber Shop. MR. HAY: Sim's Barber shop, right in the 24 back part of that. 25 MR. TAYLOR: Oh, okay, I see, I see what New Wave Depo LLC www.newwavedepo.com 10 " August 11, 2009 1 you're talking about, yeah. 2 MR. HAY: And I believe we uh, we own that 3 property now, and we uh -- we're only charging them like 4 $10 a year or something like that. 5 MS. SULLIVAN: Well, he's charging Mr. Sim's 6 tha t . 7 MR. RODRIDUEZ: The owner, yeah the owner, 8 tha t 's who. 9 MS. SULLIVAN: Right. MR. HAY: The owner. MR. RODRIDUEZ: We're charging the owner ten 11 121 bucks. 13 14 15 16 17 18 MR. HAY: No, no, no, well MR. RODRIDUEZ: Yeah. I'm sorry, I'm sorry, you're right. It's not the owner, we're the owner. MR. HAY: Yeah, we are the owner. MR. TAYLOR: We're the owners, we lease -" MR. RODRIDUEZ: We're leasing it for ten 19 bucks. 20 MR. HAY: And, and, and I think your point 21 is, you're paying some 160 or something a week or 22 something like that. 23 MS. SULLIVAN: Yes. 24 MR. TAYLOR: You're paying that to who? 25 MS. SULLIVAN: Mr. Sims. New Wave Depo LLC www.newwavedepo.com 10 11 . August 11, 2009 4 1 MR. TAYLOR: Oh, so he's - - he's - - MR. RODRIDUEZ: That's a good point MR. TAYLOR: he's charging you as - - MR. RODRIDUEZ: He's making money off of us. MR. HAY: Yeah, he's making money off of us. 21 3 4 5 6 UNKNOWN WOMAN: It's a sublease. 7 MR. RODRIDUEZ: Yeah, he's subleasing the 8 property and making money. 9 MR. HAY: And we're the owners. MR. RODRIDUEZ: And we're the owners. MR. HAY: And we charging him ten dollars a 12 year. What's wrong with that picture? 13 14 MR. TAYLOR: I don't know, let's -- Mike. MR. SIMON: Mike Simon, Development Manager, 15 that was uh, an item on the agenda last month. If you 16 recall there was discussion with Mr. Sims the tenant. 17 You all had the opportunity at that time to change the 18 lease to a different condition. Uh, Mr. Sims was asked 19 at that time what his sub-tenants uh, sublet tenant's 20 rent was and the amount of money was calculated and it 21 was approved to remain in -- in the same status as it 22 had stayed. 23 MR. TAYLOR: Part of our original contract 24 with him so it allow him to sublease. 25 MR. SIMON: Yes, sir. New Wave Depo LLC www.newwavedepo.com 10 11 12 .. August 11, 2009 1 MR. RODRIDUEZ: Can we ..... can I offer a 2] :1 5[ motion to reconsider that? (Indiscernible) 6:43:43 attorney. MR. TAYLOR: You can bring it back. MS. BRIDGEMAN: It's not on it's not on 6 the agenda for today, so today wouldn't wouldn't 7 be -- 8 MR. TAYLOR: No but we could put it on the 9 next agenda. MS. BRIDGEMAN: Yes. UNKOWN MALE: Because MR. RODRIDUEZ: So -- okay, I think we 13 should do that. 14 MS. BRIDGEMAN: It could be put on the next 15 agenda. 16 17 MR. TAYLOR: I think it was unanimous, so anyone of us could have could have it put on another 18 agenda. 19 20 I 21 22 231 24 j 25 MR. RODRIDUEZ: Right. Yes. UNKOWN MALE: Absolutely, absolutely.. MR. RODRIDUEZ: That's a good point, very good point. MR. TAYLOR: I think it's good, yeah it's a good thing we -- we'd like to have that put on the next agenda to reconsider. New Wave Depo LLC www.newwavedepo.com 6 1 MR. TAYLOR: Okay. Thank you. 2 UNKOWN MALE: Thank you. 3 4 5 CERTIFICATE OF TRANSCRIPTION 6 7 STATE OF FLORIDA 8 COUNTY OF PALM BEACH: 9 10 The above and foregoing transcript is a true 11 and correct typed copy of the contents of the file, 12 which was previously recorded in the proceeding 13 identified at the beginning of the transcript, to the 14 best of my ability, knowledge and belief. 15 16 17 18 '~~J~ 19 20 Jan Correggio, CER Notary Public, State of Florida My commission #DD715994 expires September 18, 2011 21 22 23 24 25 New Wave Depo LLC www.newwavedepo.com GOREN, CHEROF, DOODY & EZROl, P.A ATTORNEYS AT lAW sura: 1100 3099 EAST CQMMER;CIAL ~OUL.EVARO FORT LAUDeRDALE. FLORIDA St\SOS SAMUEL S. GOREN JAMES A. CHEROF DONALD J. DOODY KERRY L. UROl M1CHAIH. O. C1RUUO, JR lElEPHONE (964) 771-4600 fACSIMilE ($154) 171-4923 JUl.IE r. KLAHR DAVID N, "OLCES RICHARD J. DeWITT, III NOEMI lOPEZ JAMILA ALEXANDER s rEVEN l, JOSIAS, 01' COUNSEL August 12,2005 BY REGULAR MAIL Mr. Douglas Hutchinson Executive Director Boynton Beach Community Redevelopment Agency 639 Bast Ocean Drive. Suite 107 Boynton Beach, Florida 33435 Re: BOY'lton Beac/, eRA Purchase from Sims / Execl/ted 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 \IS. Ene. H:UOOSOS0243\o'.oS.\Z Letter lO DBCRA ent lease Agreemcnt.ooQ COMMERCIAL LEASE AGREEMENT . THIS LEASE AGREEMENT is made and entered into this 1i;l day of A P tl.ll , 2005, by and between the Boynton Beach Community Redevelopment Agency (hereinafter referred to as .Landlord.), and G1aston 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 Blc,blblt "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 t/I $ection 1. Total Term of Lease. The term of this Lease. shaU begin on the 10 of AllGllSr. 2005, and shall terminate on Iwtd.JsT KflI, 200C:;. ARTICLE III - RENT Landlord hereby acknowledges r~lpt 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. Conunercial Lease Al;- _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 it, 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 permil 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 unreasonably 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 tbat would violate applicable law or constitute a dangerous or objectionable con\lition. ARTICLE VIII . INDEMNITY BY TENANT The Tenant shall save Landlord harmless and indemnify Landlord from all itijury, loss, claims. actions or damage to any person or property while on the Leased Premises and any related expense, including attorney's fees, unless cansed by the willful acts or omissions 01' 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 acciden! 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 Aj;. ,ement 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 performallCe. ARTICLE XII- HAZARDOUS MATERIALS Any activities in any way involving hazardous materials or substances of any kind whatsoever, either as those terms may be define!l 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 ofany such contamination. ARTICLE XIII - SUBLE'ITING Landlord acknowledges and hereby approves Tenlll\l'S subletting of the 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 A!,. .ement Page 4 of F 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 accordance 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 shal! 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, shal! 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 shal! 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 S. Assignment. Lessee shall not assign this Lease without first obtaining the written consent of the Landlord. Section 6. I1walidlty 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 permilled 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 ampliry 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 Dlimed 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 requJre. 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 parlies hereto, shall be deemed to create any relationship between the parties hereto other lhan 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 mailer not conlained 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. Sectlon 11. Governlug Law. All matters pertaining to this Lease (including ils interpretation, application, validity, performance and breach) in whatever jurisdiction action may be brought, shall be governed by, conslrued 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 mailer 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 parlles agree to reimburse the prevailing party's reasonable allbrney'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 tbe prevailing party may be entilled. 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 sald time calculable. IN WITNESS WHEREOF, the parties hereto have executed this Lease the day and year first above written or halle caused lhis Lease to be executed by their respective officers thereunto duly authorized. 5 Commercial Lease Agreement Page 60f8 Signed, sealed and delivered in the presence of: WITNESSES: , ~1d2!Kb~? AWABeuA ~ TEN~~~~) 6 _ >/~ G1aston . Sims dJb!a Alex- ims Barber Shop Date executed: 08/10105 WITNESSESS: ~d4MstJ ~12~, ue/lS:~f/1.ug<<~-6 rJ Dale executed: dttylJ!t6/CJ,,7xJS- APPROVED BY CRA BOARD (SE.E. P,O(8E. 8) By: Title; Date executed: Commercial Lease Agreement Page 7 of8 EXHmIT A LEGAL DESCRIPTION Lot 145, Block D of BOYNTON HlUS, accordillg to tile plat thereot as recorded ill Plat Book 4, Page 51 of tile Public Records of Palm Beach CoUllty, Florida. Street AddJ:ess: 909 N Seacrest Boulevard, Boynton Beach, Florida 33435 Conunercial Lease Ab_"emen: Page 8 of 8 WITNESSES: r ~~.IJ/l. V,' /~ tlICDLI~ UoJJi-l C;;;4 BUYER: APPROVED BY CRA BOARD By:~ ~.,ttet,r Chair, Jeanne Heavilin f/(~I/4- L;j f/Oo/U Printed Name Date Executed: .J,1'I<'. 10, 2~a3_ 1:\Clienl Documc:nts\BCl)lTlton Beach CRA\24l9.ooo\Misc\Cort'um:rcial base Aweement-KWD.doc 8 ,\1/, . .tV:,': I~. , ' r... ' rf- ,~ ~1~qY~T2~ eRA III East Side-West S'lde-Seas'lde Rena'lssance July 21, 2009 G1aston E. Sims d/b/a Alex Sims Barber Shop 909 N. Seacrest Boulevard Boynton Beach, FL 33435 Re: Lease-909 N. Seacrest Boulevard, Boynton Beach, FL Dear Mr. Sims: At their regular meeting held on July 14, 2009, the CRA Board approved your continued "tenancy at will, month to month" occupancy of the CRA owned building located at 909 N. Seacrest Boulevard. Any and all lease terms and conditions remain in full force and effect. The CRA Board and staff acknowledged at the meeting that there were no current or active redevelopment plans in place for the building. However, the agency plans to add exterior lighting and remove the existing Australian pine trees on the south and rear sides of the building in attempt to aide in the security of the building. CRA staff will notify you of the dates and times of the proposed work to be done as the electrician will require access to the building in order to perform the lighting installation. In a related matter, staff recently performed and inspection of the building exterior discovering several areas of damaged or rotten fascia board (see attached pictures) that you will need to repair or replace under the maintenance terms of the lease agreement. Please address these repairs as soon as possible as the integrity of the roofmg system could be in jeopardy if this is allowed to remain. If you have any questions or concerns, please do not hesitate to contact me. ~IY,~ ~~, Exe~tector Cc: Jim Cherof, CRA Legal Counsel Guam Sims file 915 South Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-7373-3258 www.boyntonbeachcra.com -------- - ~) '') ~ :-) " ,... (~ ". 't "i, " ~ i.f ..) .. ;...l;.; , I!:' , I I I t= iii ,._~---..-.<<. " ;.. :~~"._._..,"......., "--....,. r-- 1-,. ~"-==-....:.-:.. XI. OLD BUSINESS: C. Boynton Harbor Marina Slip Reconstruction Project 1. Recommendation of Contractor Shoreline Foundation, Inc. ./ .. -;1''''. /.~~. ~'':'\ <,r~~': , ,.f' , 4' ..~I' f \ ~~~<tY~T8~C RA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: September8,2009 I I Consent Agenda I X I Old Bnsiness I I New Bnsiness Legal Other SUBJECT: Consideration of Recommendation of Marina Slip Reconstruction Project Contractor- Shoreline Foundation, Inc. SUMMARY: At their meeting held on March 10,2009, the CRA Board approved issuing a Request for Proposal (RFP) (attached) in order to solicit contractors and cost proposals for the Boynton Harbor Marina Slip Reconstruction project. After final legal review and receiving final building permit approval from the City of Boynton Beach, staff issued the RFP on June 5, 2009 with a submission deadline of4pm on July 21, 2009. At the closing of the RFP deadline, the CRA received construction and cost proposals from seven (7) General Contractor firms. Submittals were then independently reviewed and ranked by the Review Team comprising of Board approved marina consultants MSCW, Inc. as well as select CRA staff. Based on the combined rankings (attached), the three top contractors; The Murphy Construction Co., Custom Built Marine Construction and Shoreline Foundation, Inc., were selected to participate in shortlist interviews hosted by the Review Team. Based on their experience, project methodology, price and firm's qualifications, Shoreline Foundation, Inc., is being recommended for selection as the general contractor for the Boynton Harbor Marina Slip Reconstruction project. FISCAL IMP ACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: CRA Redevelopment Plan, Downtown Master Plan, Ocean District Plan RECOMMENDA TIONS: Approval of Shoreline Foundation, Inc., to be selected as the General Contractor to perform the construction associated with Boynton Harbor Marina Slip Reconstruction project. G(Jd# Vivian Brooks, Assistant Director T:\AGENDAS, CONSENT AGENDAS, MQNTHL Y REPORTS\COmpleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-8-09 M&eting\Marina Slip Contractor Selection approval.doc REQUEST FOR PROPOSAL (RFP) PROJECT: Boynton Harbor Marina Slip Reconstruction ~1~~Y~Te~ICRA . East Side~West Side"'Seaside Renaissance PROJECT OWNER: Boynton Beach Community Redevelopment Agency TABLE OF CONTENTS Section Page I. ADVERTISEMENT FOR REQUEST FOR PROPOSAL.................................................. 1 II. INTRODUCTION AND BACKGROUND.............................................................................1 III. SCOPE OF WORK........................................................................................................................... 2 IV. DESCRIPTION OF PROPERTY...............................................................................................3 V. SCHEDULE.......................................................................................................................................4 VI. PRE-SUBMMITTAL CONFERENCE .................................................................................... 4 VII. REQUEST FOR CLARIFICATIONS OR OTHER QUESTIONS................................. 5 VIII. CONTENTS OF PROPOSAL ..................................................................................................... 5 IX. OTHER TERMS AND CONDITIONS................................................................................... 9 X. RESERVATION OF RIGHTS...................................................................................................15 XI. EVALUATION AND RANKING PROCESS.......................................................................16 EXHIBITS EXHIBIT I. MARlNA AERIAL EXHIBIT APPENDICES APPENDIX I. RESPONDENT REGISTRATION FORM APPENDIX II. REPRESENTATIONS BY RESPONDENT APPENDIX Ill. DISCLOSURES, DISCLAIMERS AND DECLARATIONS APPENDIX N. DRUG-FREE WORKPLACE CERTIFICATION APPENDIX V. PUBLIC ENTITY CRIMES SWORN STATEMENT APPENDIX VI. FIRM INFORMATION APPENDIX VII. FINANCIAL INFORMATION i qtY~Te~ CRP, ~h,tS'de~WC"S'de-S""ideRena"""nCe Advertisement for Request lor Proposals Boynton Beach Community Redevelopment Agenc) Boynton Harbor Marina Projerl: Marina Slip Reconstrnction I. ADVERTISEMENT FOR REQUEST FOR PROPOSAL The Boynton Beach Community Redevelopment Agency (Boynton Beach eRA) is seeking Proposals for Ihe renovation of thc Boynton Harhor Marina (Project). Proposals were issued on June 5, 2009 and are duc no later than July 21, 2009 at 4:00 p.m. At that time, all Proposals received shall be logged in as having heen received no later than the closing time and date for the receipt of Proposals. Submit six (6) original copies ofthc Proposal: Boynton Beach Community Redevelopment Agency CRA Development Manager 915 South Federal Highway Boynton Beach, FL 33435 Clearly mark the outside of the Proposal as: "Marina Slip Reconstruction Project - Contractor." The successful Proposer(s) will be required to furnish a one-hundred-percent (100%) Perfonnance Bond and Labor and Material payment bond No Proposal may be withdrawn after the scheduled closing for receipt of Proposals for a period of ninety (90) days. The Boynton Beach CRA reserves the right: to waive minor informalities in the Proposals; to reject any and all Proposals; to abandon the project; to re-advertise the Request for Proposals; or to take any other action deemed in the hest interest of the Boynton Beach CRA The following instructions are given for the purpose of guiding Proposers in properly preparing their proposals or Proposals. These directions have equal force and weight with the specifications and strict compliance is required with all the provisions herein contained. II. INTRODUCTION AND BACKGROUND Since being purchased by the Boynton Beach CRA in March 2006. a series of renovations began on the Boynton Harbor Marina, formerly known as the Two Georges Marina, designed to create a first rate, public access facility for boating and fishing that will welcome Boynton Beach residents to the waterways for generations to come. Cosmetic renovations such as painting, landscaping, and hurricane repairs have been addressed and 2009 will mark the beginning of Phase Two improvements that will make the marina more pedestrian-friendly with amenities that include new outdoor Seating and public restrooms. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE I@~R~~ICRA _&nSlde"WestSide-s.uldell8~"1laI To further maximize public access to the waterways, the Boynton Beach CRA acquired an additional waterfront parcel in October 2006. The 7,000 square foot slice of land north of the Two Georges Restaurant will be converted into a passive park. The purchase included fuel docks and additional available garage parking spaces to expand the onsite parking options for Marina tenants. The initial marina purchase was financed with money from a bond issued in December 2005. To support restoration efforts, the Boynton Beach CRA also applied for and received Palm Beach County bond money eannarked to help preserve public waterfront. Construction plans for the renovation of the marina slips and bulkhead area have been designed and prepared by Sea Diversified, Inc., and are based on an overall conceptual master plan for this waterfront marina created by MSCW, Inc. III. SCOPE OF WORK: Contractor shall provide all materials, labor, permitting and maintenance of traffic (both marine and vehicular) to perform the necessary construction activities to construct the marina slip improvements, as specified in the construction plans as prepared by SEA Diversifies, Inc., a consultant to the Boynton Beach CRA. The scope of work (Work) includes the following: l) Construction of nineteen (19) boat slips. 2) Associated boardwalks, mooring posts, access piers and other dock components. 3) Construction of two (2) fish cleaning stations. 4) Full inspection of site and bulkhead structures to ensure stability. 5) Installation and connection of slip power/utility services pedestals. All construction is to meet or exceed all materials quality specifications. No deviations from plans will be approved without prior written request, notification to Owner and formal approval issued by the Owner. Contractor is to provide a full-time Construction Manager assigned to the Project. Contractor is to provide all storage of materials, either onsite as approved by the Client or off site as needed, but at no time are construction activities to impede access, parking or deliveries to the existing restaurants or other active marine businesses utilizing the marina. In the event that temporary disruption of activities is necessitated due to waterward construction, Contractor is to provide written notification of activity, a schedule of construction activities and a guaranteed completion date of activities. Contractor shall receive approval of business impact construction activities prior to initiation of any work activities. To the maximum extent possible all construction activities should be accessed from the waterside to limit any disruption of pedestrian accessibility to the marina. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 2 : 'NYW8~CRA _Ea"Slde~We$IS'd<!.Se"lde""n.o.l.."nCe PROJECT PACKAGES: All requesh 1,)1' a Project package shall he In writing al" accompanied by a $250.00 non-refundable payment Checks shall be payable to tIi Boynton Beach Community Redevelopment Agency. Project packages will be availahi, beginning Friday, June 5. 200'1 at the following location HO~,int()n t1eaL:h l ommunity Redevelopment Agency 'I IS South r ederal Highway Boynton Beach. 1'1. 134 '5 You may include a company sell~addressed. UPS, Fed-Ex or other major shipping I,mll. which is paid for in advance by you or billed directly to you by the shipping company. 111 no event shall the Boynton Beach eRA pay for shipping. delivery or mailing. The Work included in this project consists of tllrnishing all tools, materials. equipment and supplies as well as the perfonnance of all labor. handling, services and incidentals. including applicable taxes necessary for the Boynton Beach CRA. The toregoing description is general in nature. The scope of work is more specifically defined by the Contract Documents. PERSONAL INVESTIGATION (Conditions of Work) AND OBLIGATION OF PROPOSER Each Proposer shall infonn himself fully of the conditions relating to the construction of the Project and the employment of labor thereon. Failure to do so shall not relieve a successful Proposer of his obligation to turnish all material and labor necessary to carry out the provisions of his Contract. At the time of the opening of proposals, each Proposer shall be presumed to have inspected the site and to have read and to be thoroughly familiar with the plans and Contract Documents (including all addenda). The failure or omission of any Proposer to examine any fonn, instrument or document shall in no way relieve any Proposer trom any obligation in respect to Proposer's Proposal. Nothing in this Proposal shall be interpreted or construed as relieving any Proposer of any obligation to conduct or attend a mandatory site inspection, as may be required and referenced elsewhere in these Proposa I Documents. IV. DESCRIPTION OF PROPERTY The Boynton Harbor Marina, fonnerly known as the TWll Georges Marina, is now a publicly owned facility located at 700 Casa Loma Boulevard, on the intracoastal waterway east of USI on the north side of East Ocean A venue and the Ocean A venue bridge in Boynton Beach, Palm Beach County, Florida 33435. The navigational location for the marina facility is Latitude: N. 26 degrees 31 minutes 39.62 seconds and Longitude: W 80 degrees 3 minutes 18.31 seconds. The existing Boynton Harbor Marina consists of 24 irregularly sized boat slips supplied with electrical and water pedestals. The existing bulk head is concrete and steel with small, wooden finger piers and wooden pilings. The intent of the renovation project is to THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE ,< ~~RY~8~!CRA iii EutSld.~WestSid.wSeuldeRarWstllnt" create a first rate, public access facility for boating and fishing that will welcome Boynton Beach residents to the waterways for generations to come. V. SCHEDULE June 5, 2009 Proposal documents, plans & specifications available at the Boynton Beach CRA Office, 915 South Federal Highway, Boynton Beach, FL 33435. Fee of $250.00. Checks shall be payable to the Boynton Beach Communi Redevelo ment A en . June 16, 2009 Mandatory Pre-submittal Conference at I :30 p.m. in the Boynton Beach CRA offices located at 915 South Federal Highway, Boynton Beach, FL 33435. MANDATORY ATTENDANCE BY A PRINCIPAL OF EACH RESPONDENT IS REQUIRED. June 25, 2009 Deadline for respondents to submit written questions or requests for clarifications. July 21, 2009 DUE DATE FOR PROPOSALS. Proposals must be received in their entire b the Bo nton Beach CRA no later than 4:00 .m. July 28, 2009 Evaluation Committee meeting to review proposals and rank res ondents. August II, 2009 Evaluation Committee shall make recommendation to Boynton Beach CRA Board to select Contractor and award contract. [fthe contract is not executed within 30 days, the Boynton Beach CRA shall the right to terminate the award and select next hi est ranked ro oser. 180 Da s after Notice to Proceed Issued Contractor shall com lete Pro'ect. VI. PRE-SUBMMITTAL CONFERENCE A mandatory pre-submittal conference (Conference) and a tour of the Project Area are scheduled forJune 16,2009 at 1:30 p.m. at: Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, FL 33435 The purpose of the Conference is to provide prospective respondents the opportunity to ask questions, receive clarification, and/or make requests concerning interpretation of the RFP documents. Failure of a Principal of any respondent to attend the conference shall be reason for disqualification. The Boynton Beach CRA will prepare and distribute written minutes of the Conference to all attendees. The respondents shall not rely on any oral representation, interpretation, comments or clarifications made during the Conference that varies the terms of the RFP unless reduced to a written addendum. Note: Late submissions will not be accepted, Any questions concerning this process shall be directed to the Boynton Beach CRA at (561) 737-3256. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 4 ,. "NY~Te~ (RA _ E,,,, Sid~-w.,$t Sid~-Sp->.~Id~ R"h.ls,~ncf. VII. REQUEST FOR CLARIFICATIONS OR OTHER QUESTIONS All requests for c.larification or other questions ref!.ardllh.' File proposal must he submitted 10: Boynton Beach Communit, Redevelopment Agency Othce Attention: Michael Simo!; CRA Development Manage' 915 South Federal Highwa Boynton Beach, FL 33.n' 01 Email: SimonM@bbllm All responses will be posted as soon as reasonably possible thereafter. The deadline to post a question is June 25, 2009 at 5:00 p.m. The Boynton Beach CRA may issue written addenda regarding the RFP to clarity, comment upon, correct or as otherwise required to facilitate the RFP process. Should any questions or requests require revisions to the RFP as originally published, such revisions will be by fonnal written Addendum only and posted on the Boyn,on Beach CRA website. No Proposals will be accepted after the RFP closing time and date, and no subsequent modifications to the Proposals will be pennitted prior to selcction, except in those cases where the Boynton Beach CRA or Evaluation Committee requests more information or clarification from all of the respondents. VIII. CONTENTS OF PROPOSAL A. FILLING IN PROPOSALS I) All prices shall be completed in the proposal and stated in tigures. All proposals shall fully cover all items for which proposals are herein asked and no other. Proposers shall completely fill out the questionnaire and affidavit(s) herein contained. B. REJECTION OF PROPOSALS I) The Boynton Beach CRA reserves the right to reject any or all proposals, waive technical errors and/or accept any proposals that are in part deemed as the most responsive, responsible proposal, representing the most advantageous proposal to the Boynton Beach CRA. In determining the "most advantageous proposal", price, quantifiable factors and other factors are considered. Any or all proposals will be rejected if there is reason to believe that collusion exists among the Proposers. Proposals will be considered irregular and may be rejected if they show serious omissions, alterations in fonn, additions not called for, conditions or irregularities of any kind. The Boynton Beach CRA reserves the right to reject any or all proposals and to THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE s lIJ~fl~e~CRA iIIi wt Slde~Wet! Sim.-Seulde RenalsAnce waive such technical errors as may be deemed best for the interests of the Boynton Beach CRA. C. PUBLIC ENTITY CRIMES I) Legal Requirements: Federal, State, County and City laws, ordinances, rules and regulations that in any manner affect the items covered herein apply. Lack of knowledge by the Proposer will in no way be a cause for relief from responsibility. 2) On Public Entity Crimes: All invitations to proposal as defined by Section 287.012(11), Florida Statutes, requests for proposals as defined by Section 287.012(16), Florida Statutes, and any contract document described in Section 287.058, Florida Statutes, shall contain a statement informing persons of the provisions of paragraph (2) (a) of Section 287.133, Florida Statutes, which reads as follows: 3) A person or affiliate who has been placed on the convicted vendor list following a conviction for public entity crime may not: submit a proposal on a contract or provide any goods or services to a public entity; submit a proposal on a contract with a public entity for the construction or repair of a public building or public work; submit proposals on leases of real property to a public entity; be awarded or perform work as a CONTRACTOR, supplier, subcontractor or consultant under a contract with any public entity; or transact business with any public entity in excess of the threshold amount provided in Section 287.017, for CATEGORY TWO for a period of thirty- six (36) months from the date of being placed on the convicted vendor list. D. WITHDRAWALS I) Any Proposer may, without prejudice, withdraw or modify his proposal at any time prior to the expiration of the time during which proposals may be submitted. A request for withdrawal or a modification shall be in writing and signed by a person who submitted the original proposal. After expiration of the period for receiving proposals, no proposal shall be withdrawn, modified or explained. E. CONTRACT I) The Proposer to whom the award is made shall execute the Contract to do the work, maintain the same in good repair and furnish good and sufficient bonds as hereinafter specified, within ten (10) days after receiving such Contract for execution. If the Proposer to whom the first award is made fails to enter into the Contract as herein provided, the award may be annulled and the Boynton Beach CRA may then enter into a Contract with another responsive, responsible Proposer. Such Proposer shall fulfill every stipulation embraced herein as if he were the original party to whom award was made. 2) A corporation to which a Contract is awarded will be required to furnish a certificate as to its corporate existence and evidence that the officer signing the Contract is authorized to do so on behalf of the corporation. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 6 I qqY~Te~CRA lit ent Sldo~Wen Side~Seulde Re...I...nce F. PROPOSAL GUARANTY JJ All proposals shalJ be submitted upon tJle proposal fonnts) herel". ," verbatIm copv thereof. Proposals shall be accompanied by an acceptahle (1\ . percent 15':-,,, proposal bond, cash, certified check or money ordcl it 1/" proposal amount exceeds $25,000.00. Said proposal bond is to he furnish,": and executed hI, a surety company of recognized standing, authonzcd ", d' business in the State of Florida, and having a Registered Agent in Florida lor purposes oj service of process. The proposal bond amount shall he 11\, percent (5'10) of tbe proposal price and sball constitute a guarantee that th, contractor, if awarded the Contract, will enter into a written contracl with the Boynton Beach eRA to perfonn this work pursuant to the proposai G. QUALIFICATION OF SURETY I) The Proposal Bond and the Public Construction Bond shall be executed hy a surety company of recognized standing authorized to do business in the State of Florida and having a registered agent in the State of Florida for purposes of service of process. The surety company shall hold a current certificate of authority as acceptable surety on Federal Bonds, in accordance with II.S Department of Treasury Circular 570, current revision, or meet the criteria established as to acceptable surety companies by the Board of Commissioners of State Institutions, March 18, 1958, or the equivalent thereof. A surety shall be deemed not qualified if the surety shall have a receiver appointed tor it, or if it shall declare or file or has filed for bankruptcy. H. SUBCONTRACTS I) If a Proposer subcontracts any portion of a Contract tor any reason, the Proposer must state the name and address of the Subcontractor and the name of the person(s) to be contracted on the enclosed "Schedule of Subcontractors". The Boynton Beach CRA reserves the right to accept or reject any or all proposals wherein a Subcontractor is named, and to make the award to the Proposer, who, in the opinion of the Boynton Beach CRA, will be in the best interest of and/or most advantageous to the Boynton Beach CRA. The Boynton Beach CRA also reserves the right to reject a proposal of any Proposer if the proposal names a Subcontractor who has previously failed in the proper performance of an award or failed to deliver Contracts of a similar nature on time, or is not in a position to perform properly under this award. The Boynton Beach CRA reserves all rights in order to make " determination as to the foregoing. I. DISPUTES I) In case of any doubt or difference of opinion as to the items to be furnished hereunder, the Boynton Beach CRA Director's decision shall be final and binding. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 7 ~~R~e~'CRA iii EutSide-WertSlde...SeuldeAellllsance J. BASIS FOR PROPOSAL AND AWARD I) The proposal price is to include the purchasing and delivery of all materials, equipment, tools including applicable taxes and all storage facilities, temporary on-site construction offices, as well as the performance of all labor and services necessary for the completion of the work except as may be otherwise expressly provided in the Contract Documents. 2) The Proposer is responsible for reviewing the pertinent state statutes involving taxes, including, but not limited to sales tax, and complying with all statutory requirements. 3) Proposers shall enter a price for each item in the proposal (Schedule of Values). Lump sum prices shall include all work within the limits specified herein or shown on the drawings. 4) The Boynton Beach CRA reserves the right to award the Contract for the work described by these specifications in a manner or method which will produce the most effective cost benefit to the Boynton Beach CRA. The lower monetary proposal will NOT in all cases be awarded the Contract. The Contract will be awarded by the Boynton Beach CRA to the most responsive, responsible Proposer whose proposal represents the most advantageous proposal to the Boynton Beach CRA, price and other factors considered. 5) In the event of a court challenge to an award by any Proposer, damages, if any, resulting from an improper award shall be limited to actual proposal preparation costs incurred by the challenging Proposer. In no case will the award be made until all necessary investigations have been made into the responsibility and responsiveness of the Proposer in order that the Boynton Beach CRA is satisfied that the most responsive, responsible Proposer is qualified to do the work and has the necessary organization, capital and equipment to carry out the required work within the time specified. K. RIGHTS OF THE BOYNTON BEACH CRA: The Boynton Beach CRA expressly reserves the right to the following: 1) Waive any informality, minor deviations from specifications at a lower price than the most responsive, responsible Proposer meeting all aspects of the specifications and consider it, if it is determined that total cost is lower and the overall function is improved or not impaired. 2) Waive any defect, irregularity or informality in any proposal or proposal bidding procedure. 3) Reject or cancel any or all proposals. 4) Reissue an Invitation to Proposal. 5) Extend the proposal opening time and date. 6) Procure any item by other means. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 8 , "RY~T2~ eRA 6 EastSI~~W~51Side-Se:l'lde""n.,,,.,,,, 7 ~ Increase or decrease the quantity specified in the Invitallnn In propnsalllllles:-; the Proposer specities otherwise. 81 Consider and accept any altemate proposal as provided herelll "hen most advantageous to the Boynton Beach CRA. L. ADDITIONAL PROPOSAL FORMS I) The following pages must be completed and submitted along with proposals in order for the package to be considered complete and acceptahle: a. Proposer Acknowledgement b. Addenda c. Proposal d. Proposal Bond e. Certificate as to Corporate Principal 1". Statement of Proposer's Qualifications g. Proposer's Site Inspection Confinnation h. Noncollusion Affidavit of Prime Proposer I. Anti-Kickback Affidavit .1. Confimlation of Drug-Free Workplace k Statement of No Proposal IX. OTHER TERMS AND CONDITIONS A. INSURANCE QUALIFICATIONS J) Submission of Post-Proposal Information. The Notice to Proceed shall be issued immediately upon the Boynton Beach CRA award and shall be conditional to receipt of the items below. The selected respondent shall. within ten (10) business days from posting the Recommendation to Award, submit the following: a. Executed Performance Bond, and Labor and Material Payment Bond. Use Bond fonns provided as attached with appropriate Bond Numbers. NOTE: The Bonds must be recorded in the records of the City of Boynton Beach, Boynton Beach, Florida. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 9 ~!lRY!ife~CRA Ii &StSIde-WestSide"Seulde Il.enaisnnct b. Three (3) original sets of the Executed Agreement, signed and Sealed by an authorized representative of the respondent at least three (3) business days prior to Boynton Beach CRA Commission's Award. c. Certificates of Insurance coverages as specified in the contract. d. Copies of respondent's State of Florida certification and/or registration for a general contractor and all proposed subcontractors. e. Copies of occupational licenses for Palm Beach County and the City of Boynton Beach. f. Resume of Contractor's Construction Superintendent for this Project. Failure of the successful respondent to execute and timely return the Contract Documents, together with bonds, certificates or other items in proper fonn as required shall be cause for cancellation of the intent to award and withdrawal of the contract, and may be cause for forfeiture of the proposal guarantee. The Work may be perfonned otherwise as the Boynton Beach CRA decides is in its best interest. In such case, the forfeited proposal guarantee will become the Boynton Beach CRA's property, not as a penalty but as a liquidation of damages resulting from the respondent's failure to comply with the tenns and conditions. 2) If requested by the Boynton Beach CRA, the respondent shall be required to establish to the satisfaction of the Boynton Beach CRA the reliability and responsibility of the proposed subcontractors to furnish and perfonn the Work described in the sections of the specifications pertaining to such proposed subcontractor's respective trades. Prior to the award of the Contract, the Boynton Beach CRA will notify the respondent in writing if the Boynton Beach CRA, after due investigation, has reasonable and substantial objection to any person or organization on such list. If the Owner has a reasonable and substantial objection to any person or organization on such list, and refuses in writing to accept such person or organization the respondent may, at their option, withdraw the Proposal without forfeiture of Proposal Security, notwithstanding anything to the contrary contained in the Proposal Documents. If the respondent submits an acceptable substitute there shall be no increase in the Proposal Price to cover the difference in cost occasioned by such substitution. Subcontractors and other persons and organizations proposed by the respondent and accepted by the Boynton Beach CRA must be used on the Work for which they were proposed and accepted and shall not be changed except with the written approval of the Boynton Beach CRA. 3) Insurance. Contractor shall be required to provide the following insurance coverages listed below. All required coverages shall be underwritten by insurance companies that are licensed to do business in the State of Florida. State approved excess and surplus lines insurers shall have a current rating of A- or better by A.M. Best Company with a financial size category of Class VIII or larger. All coverages must be provided on a primary basis. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 10 ! "NYW2~(RA ~ Ea" Sid~~Wc.tSide-Seulde IlMa....ncc a, Builder's Risk. (ontractor shall purchase and maintain Builder's Risk Insurance for all work to be prepared at tht Site to thc full insurable value thereof. This insurance shall include the interest oj the Boynton Beach CR/L In tht speeitic materials, constructiOlL labor and final built product. and shall insure against the perils oj fire~ hurricane. 1l0(ll! \vind~drivi:n rain and t.~.xtended coverage and shall include "all risk" insurance I," physical loss or damage including, without duplication of coverage, wind, theft, vandalism and malicious mischieL J1 not covered under the ;'all risk" insurance or otherwise provided in the Contract [)()ClIIllcnts. the C'ontractol shall effect and maintain similar property insurance 011 portions of the work stored offsite or in transit when such portions uf the work are to be included in an application t;,r payment. The Contractur shall be responsible 1,11' policy deductibles, b, Commercial General and Marine Liability. Contractor shall maintain Commercial General Liability at a limit of liability not less than $1,000,000 Each Occurrence. and not less than $5,000,000 Annual Aggregate, Coverage sball nut contain an) endorsement excluding Contractual Liability or Cross Liabilit). The policy shall also provide cuverage t," Completed Operations and Products Hazard. c. Business Automobile Liability. Cuntractor shall maintain Business Automobile Liability at a limit of liability not less than $1,000,000 Each Accident for all owned, non-owned and hired automobiles, In the event Contractor does not own any automobiles, tbe Business Auto Liability requirement shall be amended allowing Contractor to agree to maintain only Hired & Non-Owned Auto Liabilil) This amended requiremenl may be satisfied by wa) of endorsement to the Commercial General Liability or separate Business Auto coverage form, d. Worker's Compensation Insurance & Employers Liability. Contractor shall maintain Worker's Compensation & Employers Liability in accordance with Florida Statute Chapter 440 and the Federal Longshore and Harbor Workers' Compensation Act. e. The following coverages are required if applicable. 1. Environmental Impairment Liability. II. Collapse. In the case of II Cirading, paving, excavating, drilling, tunneling, burrowing. tilling, backfilling, pile driving or clearing land close enough to an existing building or structure to cause damage, or (2) Moving, shoring, underpinning, raising or demolition of any structure or removal or rebuilding structural supports. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE II ~"flY~e~ eRA Ii En[ Slde~W.rtS;de-Seuld" P",n~s...nce iii. Underground. The use of mechanical equipment to grade, pave, excavate, drill, tunnel, burrow, fill, backfill, pile drive or clear land. IV. Explosion. For the use or presence of dynamite or other explosives or welding tanks or other containers of potentially explosive substances. v. Independent Contractor. The use of Subcontractors by the Contractor to perform any of the Construction work. 4) Additional Insured. Contractor shall endorse the Boynton Beach CRA as an Additional Insured in the CGL and workers compensation policies. The Additional Insured endorsement shall read "Boynton Beach Community Redevelopment Agencv. a municipal corooration of the State of Florida. its Officers. Emplovees and Agents." Contractor shall provide the Additional Insured endorsements coverage on a primary basis. 5) Umbrella or Excess Liability. If necessary, Contractor may satisfY the minimum limits required above for Commercial General Liability, Business Auto Liability, and Employer's Liability coverage under Umbrella or Excess Liability. The Umbrella or Excess Liability shall have an Aggregate limit not less than the highest "Each Occurrence" limit for Commercial General Liability, Business Auto Liability, or Employer's Liability. The City shall be specifically endorsed as an "Additional Insured" on the Umbrella or Excess Liability, unless the Certificate of Insurance notes the Umbrella or Excess Liability provides coverage on a "Follow-Form" basis. 6) Right to Review. The Boynton Beach CRA and/or the City of Boynton Beach reserves the right to review, modifY, reject or accept any required policies of insurance, including limits, coverages or endorsements, herein from time to time throughout the term of this Contract. Boynton Beach CRA and/or the City of Boynton Beach reserves the right, but not the obligation, to review and reject any insurer providing coverage because of its poor financial condition or failure to operate legally. 7) Cancellation. Certificates of Insurance and a copy of all policies acceptable to the Boynton Beach CRA shall be tiled with the Boynton Beach CRA as required above. These Certificates shall contain a provision that coverages afforded under the policies will not be cancelled until at least thirty (30) days prior written notice has been given to the Boynton Beach CRA. The Certificate of Insurance shall also contain the following statement: "The Boynton Beach Community Redevelopment Agency is an insured in connection with work contracted to (Name of Contractor). This insurance applies separately to the Boynton Beach CRA except with respect to limits of liability and is primary." 8) Waiver of Subrogation. Contractor hereby waives any and all rights of Subrogation against the Boynton Beach CRA, its officers, employees and agent for each required policy. When required by the insurer, or should a policy condition not permit an insured to enter into a pre-loss agreement to THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 12 i ' flY~Te~ eRA a. E>.stSlde~w.,lt Side~'>e"'lde ~~I.."~ce waive subrogation without an endorsement. then Contractor ,hall agrec' notify the insurer and request the policy be endorsed with a Waive! Transfer of Ri!,hr., or KeCO'CI) Against Others. or its equivalent. IiI!' Waiver of ~ubrogallolJ requirement shall nol apply to any policv. which condition to the pohc) specifically prohibits such an endorsement. '" H'io. coverage should ( nntractor enter into such an agreement on a prewloss ha"i~ 9) Indemnification. ( ,,",ractor shall defend, indemnify and hold harmless lhe Boynton Beach CRA, and its ofticers, employees and agent from any and al i claims, liabilities, damages, losses and costs including, but not limited {<, reasonable attorney' lees, to the extent caused by the negligence. recklessness, or intentionally wrongful conduct of the Contract<lr and <lther persons employed or utilized by the Contractor in the perfoffilance of the contract. One percent (I %) of the contract priee represents specitle consideration to the Contractor tiJl' the indemnification set f()]ih io the contract. B. TIME OF COMPLETION / CONSTRlICTlON SCHEDULE / L1QUIDATlW DAMAGES 1) Contractor shall agree to commence work within ten (I U) calendar days 01 the Commencement Date as indicated in the written "Notice to Proceed" provided by the Boynton Beach CRA, and achieve Substantial Completion without interruption within one-hundred and eighty (180\ calendar days thereafter. 2) Final Completion shall be within thirty (30) calendar days of Substantial Completion, and the Proposer agrees that if awarded the contract, it will complete said work in accordance with both the Substantial Completion and Final Completion date. 3) Should the Proposer/Contractor, or in the event ofa default, its Surety, fail t,) achieve certification of Substantial Completion by the date specified in the written "Notice to Proceed," the Boynton Beach CRA will suffer damages. the amount of which is difticult if not impossible to ascertain. Therefore, in such an event, the Boynton Beach CRA shall be entitled to Liquidated Damages as specified in the Contract for each calendar day beyond the date of certification of Substantial Completion, until certification of Substantial Completion and acceptance thereof have been granted by the Boynton Beach CRA. The Liquidated Damages rate is $3.000.00 per day through the date of certification of Substantial Completion. 4) Liquidated Damages due to the Boynton Beach CRA may be deducted trom payments due the Proposer/Contractor, or may be collected from the Proposer/Contractor or his Surety. The liability of the Proposer/Contractor and its Surety for delay damages shall be joint and severaL These provisions for liquidated damages shall not prevent the Boynton Beach CRA, in case of the Proposer/Contractor's default, from terminating the right of the Proposer/Contractor to proceed as provided in the General Conditions for Construction. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE n ll!"fi~e~CRA ill wtSlde-WeatSlde""SeuloH ~~u..n~ 5) The Proposer/Contractor and Boynton Beach CRA agree that the rate set forth herein is a reasonable estimate of the amount of damages which the Boynton Beach CRA will suffer in the event the Proposer/Contractor does not timely complete the Contract. The Proposer/Contractor and Boynton Beach CRA agree that these liquidated damages shall be assessed as damages, as provided in the Contract Documents, and that they are not, and shall never be considered to be a penalty. C. BASIS FOR PAYMENT I) Payment shall be made on the basis of prices given in the proposal. Lump sum prices shall be paid on a percentage complete basis. Unit prices shall be applied to the actual quantities furnished and installed as specified in order to deteOlline payment. Retentions shall be as specified in the Contract. D. ACCEPTANCE PERIOD 1) The Proposer shall maintain its proposal for acceptance by the Boynton Beach CRA for a period of not less than ninety (90) days following the date of the proposal opening. The Proposal Guaranty required under Section VILF., shall remain in effect for this period. E. KNOWLEDGE PRESUMED l) Proposer is deemed to have knowledge of all applicable federal and state laws, municipal ordinances and rules and regulations of all authorities having jurisdiction over construction ofthe project. F. ALTERNATES I) Where a base proposal is provided for, the Proposer shall submit a proposal on the base proposal and may exercise their own prerogative in submitting an alternate proposal but must provide proposal price for specified item and an alternative proposal price. The Boynton Beach CRA reserves the right to accept or reject the alternates or base proposal or any combination thereof. The Boynton Beach CRA, or its authorized representative, further reserves the unqualified right to deteOlline whether any particular item or items of material, equipment, or whatsoever, is an approved equal, and reserves the unqualified right to a final decision regarding the approved or rejection of the same. G. ASSIGNMENT 1) Any Contract or Purchase Order issued pursuant to this Invitation to Proposal and the monies which may become due hereunder are not assignable except with the prior written approval of the Boynton Beach CRA. H. DELIVERY I) Prices shall be quoted F.O.B. Boynton Beach, Florida. F.O.B. destination indicates that the Proposer/Contractor is responsible for the shipment until it THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 14 ,~, ftY~TEt-i eRA _ hnSlde-We<<5ide-:,.,a'id. ~~~"",r"_.. reaches its destination. Any and all freight charges. I"Xes or storagc fees are 10 be included in the proposal total The ProDP"er ~ inv()k(~ payment tcnn:-, mllst be shown. I. PAYMENT OF SUB-CONTRACTORS AND SUPPLlEW' II Contractor shall provide copies of all sub-contractor lec proposals and verification of payment of slIb-contractors. and shall be provided eoncurrent with invoices issued by the general contractor for payment. Failure {n provide required documentation of payment will re.sult in a delay of paymem from the Boynton Beach CRA. J. INDEMNIFICATION I) The proposal shall include an amollnt constituting sutTicient consideration 10 support the Contractor's obligation to indemnity the Boynton Beach CRA for claims or actions from any claim demand or cause of action arising from any act, omission or default of the Proposer/Contractor, Boynton Beach CRA. its employees or agents, arising from the Contract or its perfonnance. X. RESERVATION OF RIGHTS The respondent acknowledges the right of the Boynton Beach CRA reserves the right to reject any and all responses received either in whole or in part, with or without cause. or to waive any response requirement, informalities or deficiencies, in any response if such action is deemed by the Boynton Beach CRA to be in the best interest of the project or the Boynton Beach CRA. The Boynton Beach CRA may, at its discretion. elect to waive any non-material requirement, either for all responses or for a specific response. In addition, the respondent recognizes the right of the Boynton Beach CRA to reject a Proposal if the respondent fails to furnish any required Proposal security, or to submit the data required by the Proposal Documents, or if the Proposal is in any way incomplete or irregular: to reject the Proposal of a respondent who is not in a position to perform the Contract: and to reo advertise for other Proposals or to accept the next responsive Proposal. The Contract( s), if awarded by the Boynton Beach CRA, wi II be awarded based on the procedures above, provided the Proposal meets the criterion specified herein and is in the best interest of the Boynton Beach CRA. The Boynton Beach eRA reserves the right to cancel the contract, or portions thereof, without penalty at any time. The Boynton Beach CRA reserves the right to withdraw this RFP either before or after receiving responses. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE I, Ufl~e~CRA _WtSlde~WfltSld.-SeatldtlRenalslWlce XI. EVALUATION AND RANKING PROCESS A. Evaluation Committee. An Evaluation Committee shall be appointed by the Boynton Beach CRA Director. The Committee will consist of six (6) persons, including public and private representatives. The Evaluation Committee shall review and rank the respondents based on criteria listed below. Based on this ranking, the Boynton Beach CRA shall negotiate with the highest ranked respondent. If negotiations are unsuccessful with the highest ranked respondent, then negotiations with the next highest ranked respondent shall begin. Upon conclusion of the negotiations the Committee shall recommend to Boynton Beach eRA the award of the contract. B. Ranking Factors. Approved Proposals will be made on the basis of those proposals which contain the most advantageous combination of design, price, proven performance and service. The following items will be considered in this process: I) Contractor qualifications and experience, including type, size and complexity of projects, and quality of construction. 2) Product Manufacturer's qualifications and ability to meet project specifications and schedules. 3) Contractor's financial capacity. (Contractor must be able to provide a bond equal to the amount of their proposal.) 4) Technical expertise in waterfront development projects. 5) Past and present development performance record (including ability to meet stated goals and timelines). 6) Compatibility of the responses to the Boynton Beach CRA' s goals and objectives as set forth in the design documents. 7) Recommendations of references. 8) Other information as determined to be helpful m ascertaining the qualifications of the respondent. 9) Language needed for consideration given to proxImIty of Contractor to project location as it affects the number of trips and distances traveled relating to City's "Green" focus. C. Ranking Process. Each member of the Committee will score the individual proposals with assistance provided as needed. Each category will be scored and tabulated to achieve the Total Points awarded to each Respondent. The Total Points awarded will be ranked on a descending scale starting with number one (I) being the highest point total, number two (2) being the next highest, and so on. Then the ranking of each respondent from each Committee Member will be totaled to determine the top ranking respondent. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 16 · l.RYW2~CR..A, _ E." ~id.~Wc~tSid~-~...jd~ Renal",,,,ce D, Scoring. The Scoring Process is divided lilt" iJ,,,, ," I categories hased upon the criteria described belo",", The maximum SC(ln.' lS l(h wlinh I) Qualifications of the Fiml Total l'Olnb 2) Bonding Capacity Total Points .. I! 3) Assigned Staff Total Points I ' 4) Professional Approach Total Poinb 'i 5) Cost Fee Proposal Total Points " E. Description of Categories. 1) Qualifications of Firm. 31i points possihle. a. Past, present and technical relevant building experience: The respondent shall demonstrate successful completion of previous projects comparable in design, scope and complexity. Current projects must bc at least 50 percent complete to qualify tl,r consideration. The respondent should demonstrate successful experience in marina and/or waterfront projects. List the projects whicb best illustrate the experiencc of the firm and current statl which is being assigned to this project. List no more than ten (10) projects. Do not list projects which were completed more than five (5) years ago. I. Name and location of the project II The nature of the fiml's responsibility on this project. III. Project owner's representative name, address and phone number. IV. Project user agency's representative name, address. and phone number. v. Date project was completed or is anticipated to be completed. 1'1. Size of project (gross square feet (CiSF) of construction) VII. Cost of project (construction cost). VIII. Work for which the staff was responsible VIII. Present status ofthis project. IX. Project Manager and other key professionals involved on listed project and who of that staff that would be assigned to this project. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 17 ~!lRY~e~ eRA iI mt SIOe-WutSicle~Seulde RIln;JuanCOl 2) Bonding capacity. 10 points possible. The contractor will be required to secure a bond for the total construction amount. Each respondent shall provide a statement from their bonding agent or surety, licensed in the State of Florida, addressed to the Boynton Beach CRA referencing the surety's rating and financial category, project name and number and amount of reserve available to the completion of this project. The requirement for available reserve shall be based upon the total estimated cost for this project. Respondents must include a financial capability statement provided by a certified financial professional. Respondents that provide a statement with all required information outlined in this paragraph will receive the total point award, otherwise the point award otherwise the point award will be zero. 3) Assigned Staff. 15 points possible. Include the general and specific project related capability of the in-house staff and indicate the adequate depth and abilities of the organization which it can draw upon as needed. This will include management, technical, and support staff. Give brief resumes of key persons to be assigned to the project including, but not limited to: a. Name and title. b. Location of office the person is assigned if other than main location c. How many years with this firm? d. How many years with other firms? e. Experience. f. Types of projects. g. Size of projects (dollar value & GSF of project). h. What were the specific project involvements? i. Education. J. Active registration and qualifications relevant to this project. k. Experience with state requirements for marine projects. I. Job assignment for other current projects. m. Percentage of time to be assigned to this project. For Section E.3 (Assigned Staff): Show the organization chart as it relates to the project indicating key personnel and their relationship. It should be understood that it is the intent of the Boynton Beach CRA to insist that those indicated as the project team in this RFP response actually execute the project. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 18 i ~ RY~Tp~ C!<P, II: Eo.~t Sid~~WestSlde.Se...lde R.enal<J$,nCE 4) Professional approach. 20 points possihle. Identi!)' how responde" interacts and communicates with its clients. Oemonstrate respond em " lean oriented approach This category also includes the respondent's abih" ! respond to construction issues, warranty issues and other projecl-reLltl.'~ issues. references and other additional information helpful in asceI1allllll.l.! (II qualifications of the respondent. The proposal must include the Contn"",' overall project methodologies. The Contractor must clearly indicate a plar, ! perform the required work to guarantee limited disruption to COInllll'rc Ii' bnsinesses within the Boynton Harbor Marina as well as limiting the Iml"" to the Sea Mist Drift Fishing vessel, commercial charter vessels and the i '" George's Restaurant. As these are neighboring and tenant businesse, \\ k require access through the marina 011 a daily has is, specific and \Veil though; planning must be demonstrated in the proposal 5) Cost Fee Proposal. 25 poinls possible. The Contractor shall provide a lully detailed line item cost proposal that breaks down all materials. labor. subcontracted labor or design services. penn its. taxes and general overhead/profit. All proposals are to use the digital template as provided by the Boynton Beach eRA. Proposals not utilizing this digital fonnat will not be considered. All Proposals are to be inclusive lump sum proposals. Contractor is to provide pricing based on the plan and specifications provided. Any proposed altematives to the base proposal shall be listed appropriately based on the cost proposal template. No alternatives are to be included in the base proposal, Final selection of thc Contractor will not bc based upon fec only. The Boynton Beach CRA reserves the right. at thc sole discretion, to accept, reject or request c1aritication l'r revision of arl\ cost proposal submitted F. Short List Interview. Thc Evaluation Committcc may conduct interviews with the respondents in an effort to further understand the proposals and qualifications of the respondent. G. Negotiations. Thc Top Ranking respondent will be invited to negotiatc a tinal contract for presentation to thc Boynton Beach CRA for consideration. ]1' the Project Manager and other key professionals involved on listed project and who of that staff that would be assigned to this projcct. H. Additional information. The Boynton Beach CRA reserves the right. before awarding any contract, to require a respondent to submit such evidence or qualifications and any current or updated information that was requested in the RFP as it may deem necessary. and may consider any infonnation available to it of the financial, technical, and other qualifications and abilities of a respondent, including past perfonnance with other governmental/educational agencies. Respondents are advised that requests for additional infonnation or site visitations arc not to be construed as an indication that a respondent will receive or is in the best position to receive a contract award. 1. Notice of Award. The Boynton Beach CRA will provide notice of its decision or intended decision conceming the contract award by posting a notice on the main door of the Boynton Beach CRA Office. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 19 IIJIR~~1CRA iI East Side-West Sido-s.ulde -"nco Exhibit I. Marina Aerial Exhibit /... r ,.. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE 20 fI!!!lRY~e~icRA II EutSlde..WestSide-Seuld. !l.enai..."c, PROPOSER ACKNOWLEDGEMENT Submit Proposals To: Boynton Beacb Community Redevelopment Agency 915 South Federal Highway Boynton Beach, FL 33435 Release Date: June 5, 2009 Project Title: BOYNTON HARBOR MARINA SLIP RECONSTRUCTION Proposal Received By: July 21, 2009. Proposals must be received in their entirety by the Boynton Beach CRA no later than 4:00 p.m. (local time). Proposals will be opened in the Boynton Beach Community Redevelopment Agency unless specified otherwise. Proposal receiving date and time is scheduled for July 21, 2009, NO LATER THAN 4:00 p.m. (local time) and may not be withdrawn within ninety (90) days after such date and time. All awards made as a result of this proposal shall confonn to applicable sections of the charter and codes of the Boynton Beach Community Redevelopment Agency and/or the City of Boynton Beach. Name of Vendor: Federal I.D. Number: A Corporation ofthe State of: Telephone Number: (~-- Fax Number: ( Mailing Address: City: State: Zip: Vendor Mailing Date: Authorized Signature Name (Printed or Typed) THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE .... < nY~T2~ C RP\ _h'tS'de-W"stStde+s.e..SldeR.eOa;,,,nee ADImND" BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOYNTON BEACH. FLORIDA Project Title: BOYNTON HARBOR MARINA SLIP RECONSTRUCTION (project) Name of Proposer: Date Submitted: We propose and agree, if this proposal is accepted, to contract with the Boynton Beach Community Redevelopment Agency, in the Contract Form, to furnish all material, equipment, machinery, tools, apparatus, means of transportation, construction, coordination, labor and services necessary to complete/provide the work specified by the Contract Documents. Having studied the documents prepared by: (Name of Project Manager/ Architect/Consultant) And having examined the project site (when indicated in these specifications to do so), we propose to perfonn the work ofthis Project according to the Contract Documents and the following Addenda which we have received: ADDENDUM DATE ADDENDUM DATE THIS PAGE TO BE SUBMITfED ALONG WITH PROPOSAL IN ORIJER FOR PACKAGE TO BE CONSIDERED COMPLETE ANIJ ACCEPTABLE ii ~~R~e~ eRA ill Eut Slde~W"<t5ide.Seuld,, Ren;us..n~e PROPOSAL The Proposer agrees to accept as full payment for the: BOYNTON HARBOR MARINA SLIP RECONSTRUCTION Scope of Work: (Contractor to Write Scope of Work) GRAND TOTAL: $ Do liars and Cents (amount written in words has precedence) The undersigned Proposer agrees to commence work within ten (10) calendar days after the date of the "Notice to Proceed" has been awarded and shall achieve substantial completion without interruption within one-hundred and eighty (180) calendar days thereafter. Original and six (6) copies of proposal submitted. Attached is a computer-generated, horizontal bar chart showing proposed schedule of work. Schedule ofSubcontractor(s) submitted. Site Inspection Form submitted. Evidence of possession of required licenses and/or business permits submitted. The undersigned hereby represents that he has carefully examined the drawings and the Contract including all Contract Documents, and will execute the Contract and perform all its items, covenants and conditions, all in exact compliance with the requirements of the specifications and drawings. The Proposer, by and through the submission of his Proposal, agrees that he has examined and shall be held responsible for having theretofore examined himself as to the character of the route, location, surface and underground obstructions, nature of the ground water table, conditions and all other physical characteristics of the work in order that he may thereby provide for the satisfactory completion thereof, including the removal, relocation or replacement of any objects or obstructions which will be encountered in performing the proposed work. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE iii , , nY~T2~:CRA e Eost Sld~-We~t Sidt~Se...ldE Re""I..,~'e (Propusa' ('Of/I if/lied) The Proposer, by submission of this Proposal. acknowledges that the Proposer has been advisee! that in the event that the Proposer contests the award of this Project to another Propose<- th, Proposer damages, if any, are limited to actual Proposal preparation costs. and Proposer hereh' waives any claim it may have for other dalllage~ coming frolll the Boynton Beach Communil' Redevelopment Agency's failure to award the Project PropOSCI Dat" Name of Proposer, Corporation, Firm or Individual By: Signature Printed/Typed Name Title Telephone Number Florida Contractor's License Number: THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE i\' ~~RY~e~CRA lieutSlde~WutSlde"'Seulde -'''''DlIIlU PROPOSAL BOND STATE OF COUNTY OF KNOWN ALL MEN BY THESE PRESENTS, that as Principal, and , as Surety, authorized to do business in the State of Florida are held and firmly bound unto the Owner, Bovnton Beach Community Redevelopment Agencv in the penal sum of Dollars ($ ) lawful money of the United States, for the payment of which sum will and truly to be made, we bond ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents. THE CONDITON OF THIS OBLIGATION IS SUCH, that whereas the Principal has submitted the accompanying proposal, dated , 2009, for: BOYNTON HARBOR MARINA SLIP RECONSTRUCTION NOW THEREFORE, A. If the Principal shall not withdraw said Proposal within ninety (90) days after date of opening the same, and shall within ten (10) days after the prescribed forms are presented to him for signature, enter into a written Contract with the Owner in accordance with the Proposal as accepted, and give bonds with goods and sufficient surety or sureties, as may be required, for the faithful performance and proper fulfillment of such Contract, then the above obligations shall be void and of no effect, otherwise to remain in full force and effect. B. In the event ofthe withdrawal of said Proposal within the period specified, or the failure to enter into such Contract and give such bonds within the time specified, if the Principal shall pay the Owner the difference between the amount specified in said Proposal and the amount for which the Owner may procure the required work and supplies, if the latter amount be in excess of the former, then the above obligations shall be void and of no effect, otherwise to remain in full force and effect. C. This bond is given to comply with Section 255.05, Florida Statues, and any action instituted by any claimant under this bond for payment must be in accordance with the notice and time limitation provisions in Section 255.05(2), Florida Statues. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE v i I'RYW8NCRA _E.utSldeNWe.tSide~Se."def\el"""'"'' (Proposal /Jond ( 'ollliIlIlCd) IN WITNESS WHEREOF. the above bounded parties have executed tl1[; instrument under their several Seals this day of ..'( hCll1g herelo affixed and these presents duly signed by its undersigned representative. pursuant tll authority of its governing 00(1.\ PRINCIPAL: WITNESS: Name of Firm Ilf sole Ownership or Partnership, two (2) Witnesses are required.) (If Corporation. Secretary only will attest and affix Seal.) Witness Signature Witness Signature Signature of Authorized Officer (Affix Seal) Title Business Address City and State SURETY: WITNESS: Corporate Surety (If sole Ownership or Partnership, two (2) Witnesses are required.) (If Corporation. Secretary only will attest and affix Seal. I Witness Signature Attorney-in-Fact (Affix Seal) Name of Local Insurance Agency Business Address City and State THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE ,i llJ!ln~e~CRA illEutSld'''We$tSid'''Seuldl! lle",lsJllnce CERTIFICATE AS TO CORPORATE PRINCIPAL l, , certifY that: . I am the Secretary ofthe Corporation named as Principal in the within bond; . who signed the said Proposal Bond on behalf of the Principal was of said Corporation; then . I know his signature and his signature hereto is genuine. . Said bond was duly signed, Sealed and attested for and in behalf of said Corporation by authority of its governing body. Secretary (Corporate Seal) STATE OF ) COUNTY OF ) Before me, a Notary Public duly commissioned, qualified and action, personally appeared to me well known, who being by me first duly sworn upon oath, says that he is the Attorney-in-Fact, for the and that he has been authorized by to execute the foregoing bond on behalf of the Contractor named therein in favor for the Owner, the Boynton Beach Community Redevelopment Agency. THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE vii \,~qYW~CRA eh'tS1d"-W."S'd'-~"ld" I\:en~I;'oncc STATEMENT OF PROPOSER'S QlIALlI'ICATIONS Each Contractor submitting a proposal on work included In thcse ""nefaJ Documents shall prepare and submit the data requested in the following schedule 01 intormation. This data must be included in and made part of each Proposal document. I'ailure to comply with this instruction may be regarded as justification felr rejecting thl' I ontracllll"S proposal. (*Attach additional sheets providing the information.) J. Name of Proposer: 2. Business Address: 3. When Organized: 4. Where Incorporated: 5. How many years have you been engaged in the contracting husiness under the present finn name? .\-ears 6. General character of work perfonned by your company: 7. Enclose evidence of possession of required licenses and/or husiness permits. .. 8. Number of Employees: 9. Background and experience of principal members of your personnel (including offIcers). * 10. Bonding Capacity: J I. Have you ever defaulted on a contract? If so, where and why? * Yes No 12. Experience in performance: Proiect $ Value Coutact Name Phone # $ $ $ $ $ THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE viii "ln~2tlCRA iii ElstSkle-WestSide-SeasldllllenalsWlce (Statement of Proposer's Qualifications Continued) 13. Experience in performance: Proiect $ Value Contact Name Phone # $ $ $ $ $ 14. Contracts on hand. * 15. Largest completed projects (include final cost). $ Final Cost I) 2) 3) 16. List all lawsuits (design and/or construction related) or arbitrations to which you have been a party and which: * 1) Arose from construction projects. * 2) Occurred within the last four (4)years.* 3) Provide case number and style. * Dated at: This day of ,20_ By: Written Signature Name: Printed or Typed Title THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE ix f'l;~ywe~'CRA ill East Si""NWe'tS;de~Se:ulde ~n~juance PROPOSER'S SITE INSPECTION CONFIRMATION Each Contractor submitting a proposal on \York included in these General Documents shal prepare and submit the data requested in the f(,lIowing schedule of information> Check One: o Non-Mandatory X Mandator)> Project Title: BOYNTON HARBOR MARINA SLIP RECONSTRUCTION Proposal Number: #CRA- 2009-001 as an authorized representative or Name and Title of Representative > .____>._ (hereinafter called the Proposer) located at Name of Company and that said Company Address Proposer has visited the site of the work and has carefully examined the plans and specifIcations for said project and checked them in detail prior to submitting his Proposal or Proposal. Signature of Company Representative Named Above Date ofInspection Owner's Representative (Signature for Mandatory Only) THfS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE , u~~e~iCRA Ii E.utSide~WutSide-Seuld./lenalnanc:. NONCOLLUSION AFFIDAVIT OF PRIME PROPOSER STATE OF COUNTY OF , being first duly sworn, deposes and says that: L He is of (Title) (Name ofCorporationlFirm) the proposer has submitted the attached Proposal; 2) He is fully informed, respecting the preparation and contents of the attached Proposal and all pertinent circumstances respecting such Proposal; 3) Said Proposal is genuine and is not a collusive or sham Proposal; 4) Further, the said Proposer nor any of its officers, partners, owners, agents, representatives, employees or parties in interest, including this Affiant, has in any way colluded conspired, connived or agreed, directly or indirectly, with any other Proposer, firm or person to submit a collusive or sham proposal in connection with the Contract for which the attached proposal has been submitted or to refrain from bidding in connection with such Contract, or has in any manner, directly or indirectly, sought by agreement, collusion, communications or conference with any other Proposer, firm or person to fix the price or prices in the attached Proposal or of any other Proposer, or to fix any overhead, profit or cost element of the Proposal price or the Proposal price of any other Proposer, or to secure through any collusion, conspiracy, connivance or unlawful agreement any advantage against the (Local Public Agency) or any person interested in the proposed Contract; and 5) The price or prices quoted in the attached Proposal are fair and proper, and are not tainted by any collusion, connivance or unlawful agreement on the part of the Proposer or any of its agents, representatives, owners, employees or parties in interest, including this Affiant. Signature Title Subscribed and sworn to before me, This day of ,20~, My Commission Expires: THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE xi ! ~RY~T2~ eRA iIIi East Slde-We$t$ide..5euIde Renal"..ne, ANTI-KICKBACK AFFIDAVIT STATE OF COUNTY OF I, the undersigned, hereby duly sworn, depose and say that no portion of the sum herein proposal will be paid to any employees of the Boynton Beach Community Redevelopment Agencv as a commission, kickback or reward of gift, directly or indirectly, by me or any member oj my i1rl11, or by an officer of the Corporation, By: Signature Title Name (printed or Typed) Title (printed or Typed) Company (printed or Typed Subscribed and sworn to before me, This day of _ ~_,_____ .20 My Commission Expires: NOTARY PUBLIC, State of Florida at Large "Official Notary Seal" Stamp THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE xii p'''RY~e~ eRA ill EanSlde~WatSlde"Seu:1de Renalllu.nCl' SCHEDULE OF SUBCONTRACTS Proposers are to submit a detailed listing of any Subcontractor(s) participation of any portion of this project for any reason. Project Title: BOYNTON HARBOR MARINA SLIP RECONSTRUCTION Proposal Number: # CRA-2009-001 Maiu Contractor Name: Name/ AddresslPhone of Type of Work to be Subcontractor Performed Dollar Amount % of Total Name: Address: Phone: Name: Address: Phone: Name: Address: Phone: THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE xiii ! "RY~T8~ eRA iIIi Eo,! Sloc,-We,( S,d.-s"..,de Re""i..""cc CONFIRMATION OF DRUG-FREE WORKPL<l.CE STATEMENT IDENTICAL TIE PROPOSALS Preference shall be given to businesses with drug-free workplace programs. Whenever two (2) or Illore proposals, which are equal with respect to price, qualitv and service, are received by the Boynton Beach Community Redevelopment Agency or hy an) political subdivision for the procurement of commodities or contractual services, a proposal received from a business that certifies that it has implemented a drug-free workplace program shall be given preferencc in the award process. Established procedures for processing tie proposals will be followed if none ofthe tied vendors have a drug-free workplace program. In order In have a drug-free workplace program, a business shall: I) Publish a statement notifYing employees that the nnlawful manufacture, distribution, dispensing, possession or use of a controlled substance is prohibited in the workplace, and specifYing the actions that will be taken against employees fl1r violations of such prohibition. 2) Inform employees about the dangers of drug abuse in the workplace, the business' policy 01 maintaining a drug-free workplace, any available drug counseling, rehabilitation and employee assistance programs and the penalties that may be imposed upon employees for drug abuse violations. 3) Give each employee engaged in providing Ihe commodities or contractual services that are under Proposal a copy of the statement specified in subsection (II. 4) ]n the statement specified in subsection (I), notif'y the employee that. as a condition of working on the commodities or contractual services that are under proposal, the employee will abide by the tenns of the statement and will notifY the employer of any conviction of or plea of guilty or nolo contendere to an) violation of Chapter 893, or of any control]ed substance law of the United States of America or any statc f()f a violation occurring in the workplace no later than five (5) days after such conviction 5) Impose a sanction on or require the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community b) any employee who is so convicted. 6) Make a good faith effort to continue to maintain a drug-free workplace through implementation of this section As the person authorized to sign the Statement, I certify that this firm complies fully with the above requirements. Vendor's Signature Title THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE xiv J!~fl~8~CRA ill East Sldll"West S;de-Se:l$lcI~ I\enaISAll<< STATEMENT OF NO PROPOSAL If you are not submitting a proposal on this service/commodity, please complete and return this fonn to: Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, FL 33435 Failure to respond may result in deletion of Vendor's name from the qualified proposer's list for the Boynton Beach Community Redevelopment Agency. Vendor/Company Name: Mailing Address: City: State: Zip: Telephone Number: Fax Number: (~ - Vendor Signatnre: Date: WE, the undersigned, have declined to respond to your Proposal #CRA-2009-00 I for the BOYNTON HARBOR MARINA SLIP RECONSTRUCTION because of the following reasons: Specifications too "tight" (i.e., geared toward brand or manufacturer only (specifY/ explain below). Insufficient time to respond to the Invitation to Proposal. We do not offer this product or an equivalent. Our product schedule would not pennit us to perfonn. We are unable to meet specifications. Weare unable to meet bond requirements. Specifications unclear (explain below). Other (specifY/explain below). REMARKS: THIS PAGE TO BE SUBMITTED ALONG WITH PROPOSAL IN ORDER FOR PACKAGE TO BE CONSIDERED COMPLETE AND ACCEPTABLE xv , I ~ I \ I """L:~ ''''''':\ I ~ I \ ~ I \ ~ I \ * II I" . ~I . ~ , ~"1. \ ~I \ ~ I I .\ II ,'iL -~ m:,~ Atv A VENUE :~,': J ,,'" r~ '1 c ~@~"li'{u@1i\!i 1fOL^;,[fil~@[fil 1M]L^;,[filUIN]L^;, III lillRInlNllii:, nfiii"[P;IffiQ)\P'l'ii'iilI~lf,m@J @1O<GlOi!ill!llOffil :J!@@@ / / / ./ ,~'""""""""'-' / / ~ / ,..,,,A,.. H"'IKI"~M!.N ~ ~Ol lX~I"" ~ASA LOUt, BJULEVARD I ..... .......~.......- ,"] "."""'''~~'''''". \ .." ,.......",'"""~ ............. .~ ... ~ ''''1-] -:p. '''1'1 - ~ .,.,. t... ~ 1 .. . . . . ~ j . ....::~,:.0".~".\" i n ,,;..~.:,!JI! ...--+-...~ l....._....".."".. ,I I: CITY UARlNA SOUTH PROrCRn LINE // JI! c T'/VG GEORGES 8[2;I/',{j{-;ANI <OKlII:"OIO.":"/ " @ BANANA BOAT RE'5TAURANT "",..." I I" ;il ,Ii ./ , l I' ,! I'~ Pi L , ~i 'j ! H I .;, )!j f" ,., 'II III l- i !! l~l f !~ ";{ ~~ t,~ f: ~; .-. .11 ~:: ze ~~ I) ~~ ~~ <~ ~~ i~i ; 1.1 .; :;: -:. !~~ ~ ii~ ~. If - j ~ o ... . 1 t < ~ ~ ~ 5 ~ 6 ~ ~ ~ u '" ::r: i ~ "' t:O o ~ ~ z E--- ~ ~ o 0 eo t:O '"" ""'\ , , , jO'-('" "-~ .~ ' . , "'''' ...... ....... I~ t'.=- "k. ,~..,...~ '1;'" . "'. -"'" -~...,.. . "-,'i'Ia\.... -..... r .'.IT I -~;Gl'\l,lL ~~_._._.._._--- -.-------&''1(20' fltH;t1l "If'''' (TYfI\ '0'..0" -'JIi~ I .------t----.---..-10' i i 10'-0. PtA51lC ~ljt r C,,~ 4'-0. 'MPl AI..LJU, 000<. BY G~TOR COC)t $: IJA!lIINf. Oil .PI~ctOvt:.(1 !::OUftL. ("".2-X6" rt '! t~...afJt 'TNO!:" SYSff,'M. / ...lTE)IN...Tl 1"X"''' .;p,," HMOWOOC I ~ptASTIC prtt CAP / ,"X1r.r ." T. T;~.mUt PH / ~Ar: A'JI) I=t.MJt:R S'r!lh.V / ^l.tt'ro.N4 T[ 2"ll10" "'0"" HA"'UWOOO $-oH ~O' "'tOW 5'-0" "DE hUM. OQCI( W/1.~6. Tlv.sr~ O(Q<INC (ALTt?ffl~rr ''')If!'' '"1P1''' t1AROnooo) By GATM IXJD( " ""R1Nf OR APPRQVr.O fQ.JAl v """iW [I. 1. 7~' NG\IO TIPICAL DOCK SECDON - ~O' SUP WIlli S' MARGINAL WALKWAY SCALF" 1/4" - 1'.0' r .'" q~ . TIPlCAL DOCK SECDON A BOYNTON BEACH CRA BOYNTON HARBOR MARINA ~ ~ "LI PAnt, a.',....,'O'!V1tllAC..t\DW'C.C--.......lCMlI...J,'DI_.Iw",I.'.Nle... kol_ PlOIf;CTNIlM.U,"IIM n.'TIoI.._._. 47)0 Nul' R,... Su""" 1l.1....o. Plorl.. HI U 'ral: "07..U2..nlO I fl.., ..07....!2.HU 1......M5CWln"...,.'" SUN-SENTINEL PUBLISHED DAILY FORT LAUDERDALE, BROWARD COUNTY, FLORIDA BOCA RATON, PALM BEACH COUNTY, FLORIDA MIAMI, MIAMI-DADE COUNTY, FLORIDA STATE OF FLORIDA COUNTY OF BROWARD/PALM BEACHIMIAMI-DADE BEFORE THE UNDERSIGNED AUTHORITY, PERSONALLY APPEARED KIM HERTZ, WHO, ON OATH, SAYS THAT SHE IS A DULY AUTHORIZED REPRESENTATIVE OF THE CLASSIFIED DEPARTMENT OF THE SUN-SENTINEL, DAILY NEWSPAPER PUBLISHED IN BROWARD/PALM BEACHIMIAMI-DADE COUNTY, FLORIDA, THAT THE ATTACHED COPY OF ADVERTISEMENT, BEING A: PUBLIC NOTICE IN THE MATTER OF: REQUEST FOR PROPOSAL IN THE CIRCUIT COURT, WAS PUBLISHED IN SAID NEWSPAPER IN THE ISSUES OF: 06/11/2009 13751388 AFFIANT FURTHER SAYS THAT THE SAID SUN-SENTINEL IS A NEWSPAPER PUBLISHED IN SAID BROWARD/PALM BEACH/MIAMI-DADE COUNTY, FLORIDA, AND THAT THE SAID NEWSPAPER HAS HERETOFORE BEEN CONTINUOUSLY PUBLISHED IN SAID BROWARD/PALM BEACHlMIAMI-DADE COUNTY, FLORIDA, EACH DAY, AND HAS BEEN ENTERED AS SECOND CLASS MATTER AT THE POST OFFICE IN FORT LAUDERDALE, IN SAID BROWARD COUNTY. FLORIDA, FOR A PERIOD OF ONE YEAR NEXT PRECEDING THE FIRST PUBLICATION OF ATTACHED COPY OF ADVERTISEMENT: AND AFFIANT FURTHER SAYS THAT SHE HAS NEITHER PAID, NOR PROMISED, ANY PERSON, FIRM. OR CORPORATION, ANY DISCOUNT, REBATE, COMMISSION, OR REFUND, FOR THE PURPOSE OF SECURING THIS ADVERTISEMENT FOR PUBLICATION IN SAID NEWSPAPER. &~~ tlAn (SIGNATU E OF KIM HERTZ, AFFIANT) SWORN TO AND SUBSCRIBED BEFORE ME ON 11TH JUNE 2009, A.D. C- ~. ",U"", J ,~\,J!Y "!!l'" UlIEANN C. ROSSI l:~.. /~i Notary Public. Slale of FlorIda i~ · 'I My Comm. Expires Apr 18 20J3 ""'~1.pt"f1:~' CommissIon (I 00 855420 ","",,,- Bond d Th e rough Nallonal Notary Assn. (NAME OF NOTARY, TYPED, PRINTED, OR STAMPED) PERSONALLY KNOWN ( X ) OR PRODUCED IDENTIFICATION ( ~, ~ Public Notice REQUEST FOR PROPOSAL Boynton Harbor Marina Slip Reconstruction ISSUING 61mTY: BOYNTON BEACfl COMMUNITY REDEVELQPMENT AGENCY(CRA) propos~1 Submission Date: July 21. 2009 at 4:00 p.m. (Eastern Daylight Savings Time) G~neiarprolect !les~rlptlon: contr/lctor ~nifl provide all 'materl. als. labor. permitting and malnte. nance of trlilflc (both marine and ve- hicular) tl> perlorm the necessary construction activities to construct the marina slip Improvements, as speclOed InJhl! construction plans as prepare.d b. .SEA Dlversllles. Inc.. a consul.tant ~to the Boyn on Beach CRA_ The s bpe 01 work (Work) In- cludes the I 1I0wlng: 1) Construcilon 01 nineteen (19) boat slips. 2l. Associated boardwalks.. mooring posts, access piers and other dock component~ 3) constructIon 01 two (2) fish clean- Ing stations., 4) Full Insptctlon of site and bulk. head structures to ensure stability. 5) Installation and !=onnectlon of slip power/utlllty services pedestals PRQII'~T PACMGJ;S: , All requestllor a proJett package shall be In ~ritlng'and afcompanled - by a 5250.00- non-relundable pay- ment. Checks shall be payable 'to We Boynton Bell'ch Cohlmunfly Redevel. opment Agency_ project packages will be avanable beglnn)ng Friday, JUne 5, 2009 at the 10lloWlng loca. lion: Boynton Baath com,munlty Redevelopment Agency 91550uth ~edei8rf1rghway Boynton Beach, FL 33435 RFP submntal: A mandatory pre-submittal conler- ence (Confelencel. and a tour 01 the Project Area. are scheduled for lune 16.2009 aP'39 /ll11pt: ' Boynton Bea~h Community Redev\llopmlil1t Meney 9t5 South F derafHlghway BOyr)tOI] Bea .FL 33435 rhe pllOPos. 'be submitted to thl! 8bQVe;, ' Ijllentlon: MI. cMel SlfnOQ, elopment Manager. no later tllah luly 21, 2009 at 4:00 pm. For lurther Inlormatlon and RFP DOc.... uments contact Michael Simon at the above address or 561.737-3256 ex\. 206 between 8:30 AM and S:OO PM June 11,2009 ", ; ~) ~ ~ THE PALM BEACH POST Published Daily and Sunday Wesl Palm Bench, Palm Beach County, Florida PROOF OF PUBLICATION STATE OF FLORIDA COUNTY OF PALM BEACH Before the undersigned authority personally appeared Janet Taylor Fisher, who on oath says that she is Classified Call Center Manager of The Palm Beach Post, a daily and Sunday newspaper, published at West Palm Beach in Palm Beach County, FIOlida; that the attached copy of advertising for a Illil in the matter of RFP - Marina Slip Reconstruction was published in said newspaper in the issues of .June 7, 2009. Affiant further says that the said The Post is a newspaper published at West Palm Beach, in said Palm Beach County, Florida, and that the said newspaper has heretofore been continuously published in said Palm Beach County, Florida, daily and Sunday and has been entered as second class mail matter at the post office in West Palm Beach, in said Palm Beach County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that she/he has neither paid nor promised any person, firm or corporation any discount rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. Also published in Martin and St. Lucie Counties. ;- I .--~. Sworn to and subscribed before 81h day of June, A.D. 2009 Who;, pemo",lIy k"own to me. MC)!^J I J:J 1\ \ NOTARY PUBUC-STATE OF FLORIDA ~.\""',. Karen M. McLlnton W' Commission II DD832672 ~, Expires: NOV.1S,2012 BONDEl) THRU ATl.Ao\frIC BONDING co., me. ~ - I I I , stations. 4) I'ull inlpectlon 01 I IWctu,et.tl5 ensu,,.'11 5) Installation and E powlr(utili ....rv. 43 ill ~p'Q!e',~f'ce J :or tile ProJett fil.e t'6, 2009 at ~-uriity '~' , .'lnH_~ I ! I w~ I B' ~35 The PRO b"IffiUed to I the'lIbiN_ Ii: Micb..t Shnbn, De er, 'no later th;ili Jul)o'2 " . .. .' . . I For ff!'tilj!' l!l,folmilr~Q.,and. RfP Oocu- mertu conll,t:' Mr~'el SImon ot the above add,es. gr 5 t .'137 .3256 exl. I 20t,"between 8;~0 A ,nd'5:00 PM I PU8:'Tbof Palrn.!iellch' Oil )"ne7. 2009 , . . - Announcing Bid RFP-2009-001-0-2009MS from City of Bovnton Beach From: supplierservices@onvia.com Sent: saturday, June 06, 2009 5:00 AM To: simon, Michae- subject: Announcing Bid RFP-2009-001-0-2009/MS from city of Boyntoc Beach Dear valued Customec, Important notice: A government agency wants you to know about an opportunity to bid on one of their projects: Bid Identifier: RFP-2009-001-0-2009/MS Bid Name: Boynton Harbor Marina Slip Reconstruction project Agency Location: Florida Agency: City of Boynton Beach scope of work: The project scope includes maintenance dredging of the CRA owned marina as per FDEP permit, demolition and reconstruction of 19 new marina slips with new pwoer and water supply as per approved plans and specifications.... If you would like to sign up to receive notification by fax or email when more opportunities are available call (800) 711-1712 or email supplierservices@onvia.com. This free notification is provided to you as a courtesy of onvia DemandStar in partnership with city of Boynton Beach. Call (800) 711-1712 for more information. To view your bid information: 1. click on the link below. (AOL users: copy the link, paste it into the URL of your Internet browser, and hit "Enter" on your keyboard.) 2. You are now in the Details section of the bid. scroll down to where the documents are located and click "view", 3. click the "Download/order" button at the bottom of the page to download the bid document. 4. click on Create profile. YOU will be asked to fill in some basic information in order to download the bid. http://www.demandstar.com/supplier/bids/BID_supplierDetail.asp?BI;191204 onvia, Inc. copyright 1998-2005. All rights reserved. Page 1 Master Ranking Sheet - Boynton Harbor Marina Slip Reconstruction Request for Proposals Qualifications of Bonding Capacity Assigned Staff Professional Approach Cost Fee Proposal Total Proposal Contractor Firm (30 Points) (10 Points) (15 Points) (20 Points) (25 Points) Points Ranking Amount Custom Built Marine 27 10 12 11 15 75 3 $692,260.00 Shoreline Foundation 30 10 15 10 18 83 1 $631,499.77 PB Marine Construction 22 9 10 6 23 70 5 $464,452.23 Jason Bator-MEC 12 1 5 8 15 41 7 $459,000.00 BK Marine 21 9 10 4 19 63 6 $546,843.84 West Construction 20 10 10 13 21 74 4 $481,526.89 Murphy Construction 30 9 14 17 12 82 2 $883,047.00 XI. OLD BUSINESS: ~. Boynton Harbor Marina Slip Reconstruction Project 2. Consideration of Entering into Contract with Shoreline Foundation, Inc. ""' ~~~~Y~T8~iCRA iii East Side-West S'lde-Seaside Rena',ssance eRA BOARD MEETING OF: September 8, 2009 I I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: Consideration of Entering into a Contract with Shoreline Foundation, Inc. for the construction of the Boynton Harbor Marina Slip Reconstruction Project SUMMARY: Upon the approval and selection from the CRA Board of Shoreline Foundation, Inc. as the General Contractor for the Boynton Harbor Marina Slip Reconstruction Project, both parties must enter into a contractual agreement to perform the specified work. Shoreline Foundation, Inc. has reviewed the attached draft contract to be utilized for this specific project. The General Conditions for Construction and Contract document have been reviewed and approved by Shoreline Foundation, Inc. Shoreline Foundation, Inc.'s cost proposal for the base specification as designed by Sea Diversified was $631,499.77. This base specification called for pressure treated lumber to be used as the decking and dock material. An alternate material specification was included in the RFP requesting a cost proposal for utilizing Ipe Hardwood material in place of the pressure treated lumber. The use of the Ipe Hardwood increased their cost proposal by $22,207.45 to $653,707.22. The long term benefits of the Ipe Hardwood outweigh the increase in cost and would be recommended. Additionally, CRA staff has investigated the cost of providing obtaining the Builder's Risk Insurance Policy. The cost to the CRA for this policy would be $4,034.00 which would provide a savings of $11,153.68. By selecting the alternate material specification using the Ipe Hardwood and the CRA obtaining it's own Builder's Risk Insurance Policy, the total cost of the project contract with Shoreline Foundation, Inc. would be $638,519.54. FISCAL IMPACT: Line Item 02-58200, $638,519.54 plus a 10% contingency for a total of $702,371.49. CRA PLAN, PROGRAM OR PROJECT: eRA Redevelopment Plan, Downtown Master Plan, Ocean District Plan RECOMMENDATIONS: Approval to enter into a Contract for Construction with Shoreline Foundation, Inc., to perform specified work as per the alternate material specification associated with the Boynton Harbor Marina Slip Reconstruction project contingent upon final review and approval from eRA al couns . T:\AGENDAS, CONSENT AGENDAS, MONTHL. Y REPORTSICompletfld Agenda Item Request Forms by MeetinglFY 2008 - Z009 Board Meelings\9-8-09 MeetinglMarina Slip Contract Agreementapproval,doc Il'lDEX GENERAL CONDITiONS FOR CONSTRUCTION I. DEFINITIONS AND TERMS........................................................................................... GCC-I 2. CONTRACT DOCUMENTS ............................................................................................ GCC-2 3. DRAWINGS ....................................................................................................................... GCC-2 3.1 Checking of Drawings and Dimension, 4. NOTICE TO PROCEED ........................................................................... ....................... GCC-2 5. PRE-CONSTRUCTION CONFERENCE ....................................................................... GCC-3 6. PROGRESS AND CONTROL OF THE WORK............................................................ GCC-3 6.1 Schedule and Progress Reports 6.2 Approval of Subcontracts 6.3 Prosecution of Work 6,4 Workmanship, Material and Workmen 6.5 Delays and Extension of Time 7. RIGHTS & RESPONSIBILITIES OF THE OWNER DURING CONSTRUCTION. GCC-6 7.1 Surveys and Lands for Work 7.2 Use of Completed Portions 7.3 The OWNER's Right to do Work 7,4 Right to Retain Imperfect Work 7.5 Suspension of Work 7.6 Termination of Contract 8. RESPONSIBILITIES OF THE CONTRACTOR........................................................... GCC-8 8.] CONTRACTOR's Representative 8.2 CONTRACTOR's Understanding 8.3 Quality of Material, Equipment or Work 8,4 Permits, Licenses, Taxes and Regulation> 8.5 Protection of Work, Persons and Property 8.6 Scope of the CONTRACTOR's Service 8.7 Responsibility of the Work 8.8 CONTRACTOR's Right to Terminate Contract 8.9 Removal of Equipment 8.10 Public Entity Crimes 9. THE AUTHORITY AND DUTIES OF THE ENGINEER ............................................ GCC-II 9. I Status of the Engineer 9.2 Examination of the Work 10. DUTIES, RESPONSIBILITIES AND AGENCY OF RESIDENT INSPECTOR........ GCC-J3 II. WORK BY OTHERS......................................................................................................... GCC-13 12. INSURANCE REQUIREMENTS .................................................................................... GCC-13 13. PAYMENTS TO THE CONTRACTOR.......................................................................... GCC-14 13.1 Monthly Payments to the Contract 13.2 CONTRACTOR's Warranty of Title 13.3Correction of Work Before Final Payment ] 3,4Liens 13.5Substantial Completion Review/Final Inspection 13.6Final Acceptance 13.7Final Payment 13.8Termination of CONTRACTOR 's Responsibility 14. WARRANTY AND GUARANTEE PROVISION ..........................................................GCC-16 15. EXISTING UNDERGROUND UTILITIES .................................................................... GCC-17 16. CLAIMS AND DAMAGES............................................................................................... GCe-17 16.1 Requirement for Notice 16.2Claims for Extra Cost 16.3Claims for Damages 16.4Additional Engineer Expense 17. INTERPRETATION OF CONTRACT ........................................................................... GCe-1 [ 18. INDEMNIFICATION ........................................................................................................ GCC-19 19. ROYALTIES AND PATENTS ......................................................................................... GCC-I c 20. CLEAN-UP ......................................................................................................................... GCC-I c 21. SANITARY REGULATION ............................................................................................. GCC-19 22. INSPECTIONS AND TESTING OF MATERIALS AND EQUIPMENT .................... GCC-20 23. SAFETY AND HEALTH REGULATIONS .................................................................... GCC-20 SUPPLEMENTARY GENERAL CONDITIONS FOR PROPOSERS I. SIGNAGE ........................................................................................................................... SGC-l 1.1 Project Identification Sign 2. PROJECT MEETINGS..................................................................................................... SGC-l 2.1 Requirements Included 3. PROJECT RECORD DOCUMENTS .............................................................................. SGC-2 3.1 Requirements Included 3.2 Related Requirements 3.3 Maintenance of Documents and Samples 3.4 Recording 3.5 Submittal GENERAL CONDITIONS FOR CONSTRl!CTJO.N l. DEFINITIONS AND TERMS: The tenns used in these specifications are defined as t()!Jows: OWNER: BOYNTON BEACH COMMUNITY REDEVELOPMENI AGENCY OWNER'S REPRESENT A TIVE: The project manager assigned by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ENGINEER: The person, finn or corporation designated by the OWNER CONTRACTOR: The person, firm or corporation with whom this Contract IS executed by the OWNER. SUBCONTRACTOR: Any person, finn or corporation other than the CONTRACTOR supplying material or labor for work at the site of the project Such person or finn has contractual relations with the CONTRACTOR. but not with the OWNER. SURETY: Any person, firm or corporation that has executed as Surety the CONTRACTOR's performance bond securing the perf Offi1 an ce of this Contract. CONTRACT: The agreement executed by the OWNER and the CONTRACTOR covering the work to be perfonned and incl uding all Contract Documents. SPECIFICATIONS: The detailed written description of the work. DRAWINGS: The drawings listed and described in the Contract Documents. PROJECTS: The entire construction or installation to be perfonned as set forth in the Contract Documents. CLAIMS AND NOTICES: A notice is defined to be infonnation rendered by either party to the other upon a condition becoming known pursuant to the following requirements. All claims, requests, substitutions. changes, notices, delays and any and all other fonns of notices or claims by the CONTRACTOR to the OWNER or Engineer must be in writing and promptly presented. If none is so made. it is irrefutably presumed not to have been given by the Gce-! CONTRACTOR to the OWNER or Engineer. 2. CONTRACT DOCUMENTS: This Contract consists ofthe following parts, all designated as the Project: Advertisement for Proposals Information for Proposers Proposal Response Proposal Bond General Conditions for Construction Supplementary Conditions for Construction Certificate of Insurance Public Construction Bond Technical Specifications Contract Drawings Addenda Construction Contract 3. DRAWINGS: The general character and scope of the work are illustrated by the drawings which are bound separately and included by reference as part of these Contract Documents. 3.1. Checking of Drawings and Dimensions: 3.l.l.The CONTRACTOR shall check all drawings furnished him immediately upon their receipt and shall promptly notify the Engineer in writing of any discrepancies. Anything shown on the drawings and not mentioned in the specifications, or mentioned in the specifications and not shown on the drawings, shall be of like effect as if shown or mentioned in both. 3.1.2.Figures marked on drawings shall, in general, be followed in preference to scale measurements. Large-scale drawings shall, in general, govern, small-scale drawings, The CONTRACTOR shall compare all drawings and verify the figures before laying out the work and will be responsible for any errors which might have been avoided thereby. When dimensions on the drawings are affected by the type of equipment selected, the CONTRACTOR shall adjust such dimensions as conditions may require. 4. NOTICE TO PROCEED: When the Contract has been executed on the part of the OWNER, it shall be forwarded to the CONTRACTOR together with notice from the OWNER to commence work. The Notice to Proceed will include the time for completion and the date to begin the Contract Time. The CONTRACTOR shall begin construction operations at the site within ten (10) calendar days after the date of the Notice to Proceed. GCC-2 ). PRE-CONSTRUCTION CONFJ;,KLJ~ . Prior to starting the work, a pre-construclwn conference will be held to revievv the \\('! schedules, to establish procedures for handiing shop drawings and other submissions. !, processing periodical pay estimates. and sucn otner matters as I1my be pertinent to the prujecl [[I, submit a preliminary shop drawing scheolll 6. PROGRESS AND CONTROL OF THE WORK: 6.1. Schedule and Progress Reports, The CONTRACTOR must submit a proposed schedule of the work (Gantt or CPM Chart I and a preliminary list and schedule of shop drawings submissions at the pre-construction conference. The purpose of this list and schedule is to enable the O\VNER and the Engineer to govern the work, to protect the functions of the local government and its citizens, and to aid in providing appropriate surveillance. The Engineer shall have the right to reschedule work provided such rescheduling is in accord with the remainder of (en11S of this ('ontract. The schedule shall show, as a minimum, the approximate dates on which each segment of the work is expected to be started and finished, the anticipated earnings by the CONTRACTOR for each month. and the approximate number of crews and equipment to be used. The Engineer, after necessary rescheduling and obtaining additional information for specific purposes, shall review and approve the schedule. The CONTRACTOR shall also forward to the Engineer, as soon as practicable after the first day of each month, a summary report of the progress of the various parts of the work under the Contract, in fabrication and in the field, stating the existing status, estimated time of completion, and cause of delay. if any. rogether with the summary report, the CONTRACTOR shall submit any necessary revisions to the original schedule for the Engineer's review and approval. Additional more detailed schedules may be required by the Engineer for daily traffic control. The detailed Construction Schedule shall be updated monthly and submitted with the CONTRACTOR's Request for Payment. 6.2. Approval of Subcontracts: 6.2.I.The CONTRACTOR shall submit with the proposal a list of names of subcontractors proposed to perform the work. The CONTRACTOR shall propose an acceptable substitute subcontractor if the OWNER or Engineer has an objection to any person or entity listed. 6.2.2.The CONTRACTOR agrees that he is as fully responsible to the OWNER for the acts and omissions of his subcontractors and of persons either directly or indirectly employed by them as he is for the acts and omissions of persons directly employed by him. 6.2.3.Nothing contained in the Contract Documents shall create any contractual relation between any subcontractor and the OWNER. GCC-3 6.3. Prosecution of Work: 6.3.1.The work shall be prosecuted at such time or in or on such part or parts of the project which such forces of workmen, materials and equipment as may be ordered by the Engineer, in writing, to complete the project as contemplated in the drawings, specifications, Contract and schedules, including such detailed drawings as may be furnished by the Engineer from time to time during the prosecution of the work in explanation of said drawings. If at any time the materials and appliances to be used appear to the Engineer as insufficient or improper for securing the quality of work required, or the required rate of progress, he may order the CONTRACTOR to increase his efficiency or to improve the character of his work, and the CONTRACTOR shall conform to such an order. The failure of the Engineer to demand any increase of such efficiency or any improvement shall not release the CONTRACTOR from his obligation to secure the quality of work or the rate of progress necessary to complete the work within the limits imposed by the Contract. 6.3.2.The CONTRACTOR shall perform the work and take such precautions as he may deem necessary to complete the project so all work will be in first-class and acceptable conditions within the Contract time according to schedule. 6.3.3.If the CONTRACTOR desires to carry on work at night or outside the regular hours, he shall submit application to the Engineer, but he shall allow ample time to enable satisfactory arrangements to be made for inspecting the work in progress. The Engineer could grant permission unless local regulations prohibit such work. If granted permission, he shall comply with all regulations and legal requirements. 6.4. Workmanship, Material and Workmen: 6.4.1.Unless otherwise stated in the detailed specifications, all workmanship, materials and articles incorporated in the work covered by this Contract shall be of the most suitable grade of their respective kinds for the purpose and acceptable to the Engineer. The Engineer shall decide the question of quality where the expression "or equal" is used in the specifications following reference to a specific manufacturer of equipment or materials. When and to the extent required by the specifications or by the Engineer, the CONTRACTOR shall furnish the Engineer for review, full information concerning the materials or articles or methods of work which he contemplates incorporating in the work. Samples of materials shall be submitted for review when requested. Machinery, materials, articles installed or used, or unusual methods of work used without such review shall be at the risk of subsequent rejection. GCC-4 6.4.2. rhe OWNER ma\ reqlllre the CONTRACTOR to remove trom tile \,.,.,r" SU, employees as the \ )I},'NER deems incompetent. careless. !I1SUt>Of<lllldlt otherwise objectionable. or whose continued employment on the w"r~ ., neerJI\. to be contrarv to the OWNER' interest. 6.5. Delays and Extension of Timt' 6.5.l.1f the CONTRACTOR is delayed at any time in the progress of the wor~ 0\ an) act or neglect of the OWNER or his employees. or by any other CONTRACTOR employed by the OWNER, or by changes ordered in the work, or by strikes, fire. lockouts. unusual delay in transportation, unavoidable casualties or by de/a) authorized by the Engineer pending arbitration, or by any cause which the Engineer shall decide to justify the delay, then the time of completion may be reasonably extended by the OWNER. 6.5.2.No extension shall be made for delay unless notice of a claim is made by the CONTRACTOR in writing to the Engineer within seven days of the event or incident causing the delay and as otherwise provided hy the detinition ,,1 "Notice", Page GCC-1. 6.5.3.If no schedule or agreement stating the dates upon which drawings shall be furnished is made, then no claim for delay shall be allowed on account of failure to furnish drawings until two weeks after demand in writing for such drawings and not then unless such claim is reasonable and as otherwise provided by the definition of "Notice", Page GCC- I. 6.5.4.1n the event of any delay in the project caused by any act or omission of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, its agents, or employees, the sole remedy available to CONTRACTOR shall he h) extension of the time allocated to complete the project. No monetary damages shall be claimed or awarded to CONTRACTOR in association with any delay in the project caused by any act or omission of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. its agents or employees. For the purpose of this section the phrase "the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, its agents and employees" shall include but shall not be limited to the Engineer. project manager. and consulting engineers. This article does not exclude the recovery of damages by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY for delay caused by CONTRACTOR under other provisions in the Contract Documents. GCC-5 7. RIGHTS AND RESPONSIBILITIES OF THE OWNER DURING CONSTRUCTION: 7.1. Surveys and Lands for Work: The OWNER shall provide the lands upon which the work under this Contract is to be done, as well as for the erection of temporary construction facilities and storage of his material, together with right of access to the same. The OWNER shall furnish all land surveys for this project. Easements for permanent structures or utilities shall be secured and paid for by the OWNER. 7.2. Use of Completed Portions: The OWNER shall have the right to take possession of and use any completed portions of the work, although the time for completing the entire work or such portions may not have expired, but such taking possession and use shall not be deemed an acceptance of any work not completed in accordance with the Contract Documents. 7.3. The OWNER's Right to do Work: If the CONTRACTOR should neglect to prosecute the work properly or fail to perform any provisions of this Contract, the OWNER, after ten (10) days written notice to the CONTRACTOR may, without prejudice to any other remedy he may have, make good such deficiencies and may deduct the cost thereof from the payment then or thereafter due the CONTRACTOR. 7.4. Right to Retain Imperfect Work: If any part or portion of the work done or material furnished under this Contract shall prove defective and not in accord with the plans and specifications, and if the OWNER decides that any part or portion of the imperfect work is not of sufficient magnitude or importance as to make the work dangerous or undesirable, or if the removal of such work will create conditions which are dangerous or undesirable, the OWNER, on recommendation of the Engineer, shall have the right and authority to retain such work but shall make such deductions in the final payment therefore as may be just and reasonable, and such retention shall not constitute a waiver by the OWNER of the CONTRACTOR's obligation under the Contract. 7.5. Suspension of Work: 7.5.l.Ifthe work is defective, or the CONTRACTOR fails to supply sufficient skilled workmen or suitable materials or equipment, or if the CONTRACTOR fails to make prompt payments to subcontractors or for labor, materials or equipment, or if the CONTRACTOR fails to comply with work schedules, the OWNER may order the CONTRACTOR to stop all work, or any portion thereof, and terminate payments to the CONTRACTOR until the cause for such order has been GCC-6 eliminated. No extensIOn o! l ol1lraCI lIllIe will k allmved lor this suspenSlO1 7.5.2.The OWNER may. at am tlllIe ane without cause. suspend the work ur '" portion thereof for a period 01 nUl Illore than ninety days by noticc in writing the CONTRACTOR and the Lcngineer. which notice shall fix the date on whle' the work shall be resumed. Ihe CONTRACTOR will resume the work on till date so fixed. The CONTRACTOR will be allowcd an increase In ('ontract pnu or an extension of the Contract time directly attributable to any suspension if Ir, makes a claim therefore as provided in the Contract. Paragraph R.n. Changes 'Ii the Work. 7.6. Termination of Contract: 7.6.l.If the CONTRACTOR is adjudged as bankrupt or insolvent, or if he makes a general assignment for the benefit of his creditors. or if a trustee or receiver is appointed for the CONTRACTOR or for any of his property, or if he files a petition to take advantage of any debtor's act. or to reorganize under the bankruptcy or similar laws. or if he repeatedly fails to supply sufficient skilled workmen or suitable materials or equipment, or if he repeatedly fails to make prompt payments to subcontractors or for labor, materials or equipment. or if hc disregards laws, ordinances, rules, regulations, or orders of any public body having jurisdiction, or if he disregards the authority of the Engineer. or if he otherwise violates any provision of the Contract Documents, then the OWNER may, without prejudice to any other right or remedy and after giving the CONTRACTOR and his surety ten (10) days written notice. terminate the services of the CONTRACTOR and take possession of the project and of all materials, equipment, tools, construction equipment, and machinery thereon owned by the CONTRACTOR, and finish the work by whatever method he may deem expedient. In such case, the CONTRACTOR shall not be entitled to receive any further payment until the work is finished. If the unpaid balance 01 the Contract price exceeds the direct or indirect costs of completing the project, including compensation for additional professional services, such excess shall be paid to the CONTRACTOR. If such costs exceed such unpaid balance, the CONTRACTOR will pay the difference of the OWNER. Such costs incurred by the OWNER will be determined by the Engineer and incorporated in a Change Order, 7.6.2.Where the CONTRACTOR's services have been so terminated by the OWNER. said termination shall not affect any rights of the OWNER against the CONTRACTOR then existing or which may thereafter accrue. Any retention 01 payment of monies by the OWNER due the CONTRACTOR will not release the CONTRACTOR from liability. 7.6.3.Upon ten (10) days written notice 10 the CONTRACTOR and the Engineer, the OWNER may, without cause and without prejudice to any other right or remedy. elect to abandon the project and terminate the agreement. In such case. the GCC-7 CONTRACTOR shall be paid for all work executed and any expense sustained plus a reasonable profit not to exceed five percent (5%) over cost incurred. 8. RESPONSIBILITIES OF THE CONTRACTOR: 8.1. CONTRACTOR's Representative: The CONTRACTOR shall keep on his work during its progress a competent superintendent and any necessary assistants, all satisfactory to the Engineer. The superintendent shall not be changed except with the consent of the Engineer unless the superintendent proves to be unsatisfactory to the CONTRACTOR and ceases to be in his employ. The superintendent shall represent the CONTRACTOR in his absence, and all directives given to the superintendent shall be as binding as if given to the CONTRACTOR. The CONTRACTOR shall give efficient supervision to the work, using his best skill and attention. 8.2. CONTRACTOR's Understanding: 8.2.l.It is understood and agreed that the CONTRACTOR has, by careful examination, satisfied himself as to the nature and location of the work, the conformation of the ground, the character, quality and quantity of the materials to be encountered, the character of equipment and facilities needed preliminary to and during the prosecution of the work, the general and local conditions, and all other matters which can in any way affect the work under this Contract. No verbal agreement or conversation with any officer, agent or employee of the OWNER or the Engineer, either before or after the execution of this Contract, shall affect or modify any of the terms or obligations therein contained. 8.2.2.Ifthe CONTRACTOR, in the course of the work, finds any discrepancy between the drawings and the physical conditions of the locality, or any error or omissions in the drawings or in the layout as given by points and instructions, or discovers unforeseen underground or aboveground conditions or any other unexpected conditions requiring additional work by the CONTRACTOR, it shall be his duty to immediately inform the Engineer in writing, and the Engineer shall promptly check the accuracy of the information. Any work done after such discovery, until any necessary changes are authorized, will be done at the CONTRACTOR's risk. See definition of "Notice", Page GCC-1. 8.2.3.If any part of the CONTRACTOR's work depends for proper execution or results upon the work of any other CONTRACTOR, the CONTRACTOR shall inspect and measure work already in place and shall at once report to the Engineer any discrepancy between the executed work and the drawings. The CONTRACTOR is at all times fully responsible for the work of the subcontractor as if it were the CONTRACTOR's own work. GCC-8 8.3. Qualit\ oj" Material. Equipment or Work: When an\' material or equipment not conforming to the requirements of UK' specitication, and drawings has been delivered to the project or incorporated In the wor~ of the project. "r whenever any work performed is of interior quality. then such material or equipment III work, whether Known or unkno\vn to the OWNER or the Engineer shall be considered to be' defective. and shall be removed and replaced, or made satisfactof\ t<> the OWNER or tll<' Engineer, at no cost to the OWNER. 8.4. Permits. Licenses, Taxes and Regulations: 8.4.I.AIl peffi1its and licenses necessary for the prosecution of the work shall be secured and paid for by the CONTRACTOR. 8.4.2.The CONTRACTOR will pay all sales. consumer. use and other similar taxes required by the law of the place where the work is perfoffiled. 8.4.3.The CONTRACTOR shall give all notices and comply with all laws. ordinances. rules and regulations bearing on the conduct of the work as drawn and specified. If the CONTRACTOR observes that the drawings and specifications are ut variance therewith, he shall promptly notify the Engineer in wTiting. and any necessary changes shall be adjusted as provided in the Contract under Paragraph 8.0, Changes in the Work. If the CONTRACTOR performs any work contrary to such laws, ordinances. rules and regulations, and does not comply with the aforesaid procedure, he shall bear all cost incident to such violation. See definition of "Notice". Page GCC-I. 8.5. Protection of Work, Persons and Property: 8.5.I.The CONTRACTOR shall continuously maintain adequate protection of all his work from damage and shall protect all property from injury or loss arising in connection with the Contract He shall make good any such damage, injury or loss, except such as may be directly due to errors in Contract Documents or caused by agents or employees of the OWNER. He shall adequately protect adjacent property as provided by law and the Contract Documents. He shall provide and maintain all passageways, guard fences, lights and other facilities j()t protection required by public authority, or local conditions. He shall provide reasonable maintenance of traffic ways for the public and preservation of the continuation of the OWNER's business, taking into full consideration all local conditions. He shall comply with the Florida Department of Commerce Safety Regulations, the "Manual on Traffic Controls and Safe Practices for Street and Highway Construction, Maintenance and Utility Operations". the Palm Beach County Land Development Permit, and any local safety regulations GCC.9 8.5.2.ln case of failure on the part of the CONTRACTOR to promptly restore damaged property, or make good such damage or injury, the OWNER may, after 48 hours notice to the CONTRACTOR, proceed to repair, rebuild or otherwise restore such property as may be deemed necessary and the cost thereof will be deducted from any monies due or which may become due the CONTRACTOR under this Contract. 8.6. Scope of the CONTRACTOR's Service: 8.6.I.Unless otherwise stipulated, the CONTRACTOR shall provide and pay for all bonds, insurance, materials, labor, tools, equipment, light, power, water, transportation and other facilities necessary for the execution and completion of the work. 8.6.2.The CONTRACTOR shall furnish free of charge all labor, stakes, surveys, batter boards for structures, grade lines and materials and supplies and shall set construction stakes and batter boards for establishing lines, position of structures, slopes and other controlling points necessary for the proper prosecution of the construction work. The stakes, as set, will be checked and approved by the Engineer before construction commences. These stakes and marks shall constitute the field control by and in accord with which the CONTRACTOR shall govern and execute the work. The CONTRACTOR will be held responsible for the preservation of all stakes, marks and, if for any reason any of the stakes or marks or batter boards become destroyed or disturbed, they will be immediately and accurately replaced by the CONTRACTOR. 8.7. Responsibility for the Work: Prior to the completion of the work by the CONTRACTOR and the acceptance thereof by the OWNER, the work shall remain at the risk of the CONTRACTOR and said CONTRACTOR shall be required to repair, replace, renew and make good at his own expense all damages caused by force or violence of the elements or any cause whatsoever, provided, however, that in such cases the CONTRACTOR shall be entitled to a reasonable extension of time within which to complete said work. If the cause of the delay shall be due to the negligence, fault or omission of the CONTRACTOR, the CONTRACTOR shall not be entitled to the extension of time mentioned in the said paragraph. 8.8. CONTRACTOR's Right to Terminate Contract: If the work should be stopped for a period of three (3) months, under an order of any court or public authority, other than by the OWNER, through no act or fault of the CONTRACTOR or of anyone employed by him, then the CONTRACTOR may, upon thirty (30) days written notice to the OWNER and the Engineer, terminate his Contract and recover from the OWNER payment for all work executed and any expense sustained plus a reasonable profit thereon. GCC-1O 8.9. Removal of Equipmen: In the case of annulment of this ,'<mtract before completion. from any cause. e\Cert tn" stated in Paragraph 8.8 above. the CONTRACTOR. if notified to do so bv the OWN FR. ,hal promptly remove any part llr all of this equipment and supplies at the expense' "i' lie CONTRACTOR. 8.10. Public Entity Crime, 8.10.1. Legal Requirements: Federal, State. County. City and Community Redevelopment laws, ordinances, rules, and regulations that in any manner affect the items covered herein apply. Lack of knowledge by the Proposer will in no way be a cause for relieffmm responsibility. 8.10.2. On Public Entity Crimes: All invitations to bid as defined by Section 287.0 12( II), Florida Statutes, requests for proposals as defined by Section 287.012(16), Florida Statutes, and any contract document described in Section 287.058, Florida Statues, shall contain a statement informing persons of the provisions of paragraph (2) (a) of Section 287.133, Florida Statutes. which reads as follows: 8.10.2.1. "A person or affiliate who has been placed on the convictcd vendor list following a conviction for public entity crime may not submit a proposal on a contract or provide any goods or services to a public entity, may not submit a proposal on a contract with a public entity for the construction or repair of a public building or public work may nol submit proposals on leases of real property to a public entity. may not be awarded or perform work as a CONTRACTOR. supplier. subcontractor, or consultant under a contract with any public entity. and may not transact business with any public entity in excess of the threshold amount provided in Section 287.017, for CATEGORY TWO for a period of 36 months from the date of being placed on the convicted vendor list". 9. THE AUTHORITY AND DUTIES OF THE ENGINEER: 9.1. Status of the Engineer: The work shall be subject at all times to the review of the Engineer. or his authorized assistants. The Engineer shall decide any and all questions which may arise as to the quality and acceptability of materials furnished, work performed, rate of progress of work, areas of work, maintenance of schedules, interpretation of drawings and specifications, and all questions as to the acceptable fulfillment of the Contract on the part of the CONTRACTOR GCC-ll In case of differences between the drawings and specifications, the Engineer shall make a determination as to whether the specifications or drawings represent the intent of the Contract, and such determinations shall be communicated to the CONTRACTOR in writing. All claims of the CONTRACTOR shall be presented in writing to the Engineer for decision. The Engineer's decision shall be made in writing within a reasonable time. All decisions of the Engineer shall be final except in cases where time and/or financial considerations are involved. See definition of "Notice", Page GCC-1. 9.2. Examination of the Work: 9.2.1. The Engineer, and his authorized assistants, shall have free access to the work of the CONTRACTOR at any time for purposes of observation, and shall be furnished by the CONTRACTOR with facilities to determine, as best as can reasonably be done under the circumstances, the work performed and the nature of same. Such assistance of the CONTRACTOR shall, if necessary, include the uncovering, testing or removal of portions of finished work. 9.2.2. Duly authorized inspectors, who shall perform their duties periodically on the project, may be assigned to the project, or any part thereof at any time. The number of inspectors will be at the direction of the OWNER. The presence or absence of any inspector shall in no way lessen the responsibility of the CONTRACTOR to perform properly the CONTRACTOR's duties to the OWNER under these Contract Documents. In case any dispute arises between the CONTRACTOR and an inspector as to materials furnished, or the manner and method of performing the work, the inspector shall have authority to reject materials or work, to suspend work until the question at issue can be referred to and decided by the Engineer. An inspector is not authorized to revoke, alter, enlarge, relax, release or amend any of the specifications or requirements thereof, nor to issue any instructions on, nor to approve or accept any portion of the work, or materials, or equipment which are contrary to the drawings and specifications; nor are any of his actions, authorized or unauthorized, to be so construed. 9.2.3.A1l materials shall be subject to examination and test by the Engineer at any time during manufacture, and at all places where such manufacture is being carried on. The right is reserved to rej ect defective materials during manufacture or before they have been incorporated into the work. If the CONTRACTOR fails to replace defective work or rejected materials, the OWNER may replace such materials or correct such defective work and charge the cost thereof to the CONTRACTOR, or may terminate the right of the CONTRACTOR to proceed under Paragraph 7.6 of the General Conditions for Construction. GCC-12 If.2.4.Since no inspection either final or intennl can nv wmpletc within itself. no tinal inspection, acceptance of work. matenal 0' equipment or final or interim acceptance of same by the OWNER or EniIlJ1C:Cl. or certificate of Engineer shal i relieve the obligation of the CONTRACTOR I" the OWNER to do the work in a good, workmanlike manner. and to tumisI1 pruper. specified equipment and materials. and to perform properly all anu '111\ ,ohligations and duties to the OWNER under the terms ofthe Contract I )OC1ll11elW ] O. DUTIES. RESPONSIBILITIES AND AGENCY OF RESIDENT INSPECTOR. The OWNER shall have the right to appoint a resident inspector not employed by the Engineer. Prior to the commencement of work, the OWNER, if it shall appoint a resident inspector, shall notify the Engineer and the CONTRACTOR of the name and address of the resident inspectOl and the general scope of the inspection duties as regards to the CONTRACTOR's project. whieh the resident inspector will perform on behalf of the OWNER. In the event that such appointmem is made by the OWNER, it shall be understood between the OWNER, the CONTRACTOR and the Engineer, that such resident inspector shall be the agent and employee of the OWNER and not of the Engineer. Interpretations of the Contract conditions and specifications and directions to the CONTRACTOR made by the resident inspector shall not be deemed to be the act of the Engineer, but exclusively that of the OWNER unless the Engineer shall. in writing, joins in OJ endorses the said direction, interpretation, or recommendation of the resident inspector. The resident inspector's authority shall be limited to observing the work of the CONTRACTOR on behalf of the OWNER in order to assist the OWNER in determining that the CONTRACTOR i, complying with the terms ohhe Contract. The Engineer agrees to cooperate with and to consult with the resident inspector if appointed b) the OWNER, but the resident inspector shall not be subject to the direction of the Engineer. nor shall the Engineer be responsible for the resident inspector's judgment or conduct. [n accordance with their general duties and responsibilities provided for elsewhere in these conditions. in the event of a dispute between the resident inspector and the Engineer concerning matters 01 interpretation of the Contract engineering judgment or standard of performance of the CONTRACTOR. the opinion of the Engineer shall be controlling. II. WORK BY OTHERS: The OWNER reserves the right to let other Contracts in connection with this work. The CONTRACTOR shall afford other CONTRACTORs reasonable opportunity for the introduction and storage of their materials and execution of their work. and shall promptly connect and coordinate this work with theirs. 12. INSURANCE REQUIREMENTS: Refer to Request for Proposals. IX. (A) Insurance Qualifications. lor the insurance requirements. GCC-13 13. PAYMENTS TO THE CONTRACTOR: 13.1. Schedule of Values: A. The Schedule of Values established as provided in the CONTRACTOR's proposal as specified in the Request for Proposal, Section J., (3). Will serve as the basis for progress payments and will be incorporated into a form of Application for Payment acceptable to Engineer. Progress payments on account of Unit Price Work will be based on the number of units completed. 13.1.1. Progress Payments: A. Applications for Payments 1. At least twenty (20) days before the date established for each progress payment (but not more often than once a month), CONTRACTOR shall submit to Engineer for review an Application for Payment filed out and signed by CONTRACTOR covering the Work completed as of the date of the Application and accompanied by such supporting documentation as is required by the Contract Documents. If payment is requested on the basis of materials and equipment not incorporated in the Work but delivered and suitably stored at the Site or at another location agreed to in writing, the Application for Payment shall also be accompanied by a bill of sale, invoice, or other documentation warranting that OWNER has received the materials free and clear of all Liens and evidence that the materials and equipment are covered by appropriate property insurance or other arrangements to protect OWNER's interest therein, all of which must be satisfactory to OWNER. 2. Beginning with the second Application for Payment, each Application shall include an affidavit of CONTRACTOR stating that all previous progress payments received on account for the Work have been applied on account to discharge CONTRACTOR's legitimate obligations associated with prior Applications for Payment. So long as the work is prosecuted in compliance with the provisions of the Contract, the CONTRACTOR will make an approximate estimate, in writing on a form approved by the Engineer of the proportionate value of the work done, items, and locations of the work performed up to and including the last day of the period then ending. The Engineer will then review said estimate and make the necessary revisions so that the estimate can receive his approval. If the CONTRACTOR and the Engineer do not agree on the approximate estimate of the proportionate value of the work done for any pay period, the determination of the Engineer shall be binding. The CONTRACTOR may also include in the estimate the value of the materials stored on the job site, provided the CONTRACTOR submits copies of paid invoices covering such material. The amount of said estimate after deducting ten percent (10%) and all previous payments shall be due and GCC-14 !13\abie to the CONTRACTOR within thirty (3U, ual, aher presentation" lIle eSl1mate to the OWNER. The ten percent (1 (10'0\ deducl1fln shall not h,' applied to the amount of the materials stored I he amount retained may be reduced to 5u,u at the dlscrelwn uj the bngineer when said project exceeds 90% of the original (ontract amount. II ;, understood that payments for such material GO not relieve the CONTRACTOR of the responsibility for the care of the materials. and na" damage to or loss of said materials is the full responsibility of the CONTRACTOR. Any Periodical Pay Estimate signed by the CONTRACTOR shall be final as to the CONTRACTOR for any or all work covered by the Periodical Pay Estimate. B. Review of Payment Applications: 1. Engineer will. within ten (] 0) days after receipt of each Application lor Payment, either indicate in writing a recommendation of payment and present the Application to OWNER or return the Application to CONTRACTOR indicating in writing Engineer's reasons for refusing to recommend payment. In the latter case. CONTRACTOR may make the necessary corrections and resubmit the Application. 2. Engineer's recommendation of any payment requested in an Application for Payment will constitute a representation by Engineer to OWNER. based on Engineer's observations on the site of the executed Work as an experienced and qualified design professional and on Engineer's review of the Application for Payment and the accompanying data and schedules. that to the best 01 Engineer's knowledge, information and belief: a. the Work has progressed to the point indicated: b. the quality of the Work is generally in accordance with the Contract Documents: c. the conditions precedent to CONTRACTOR's being entitled to such payment appear to have been fulfilled in so far as it is Engineer's responsibility to observe the Work 3. By recommending any such payment Engineer will not thereby be deemed to have represented that (i) inspections made to check the quality or the quantity of the Work as it has been performed have been exhaustive, extended to every aspect of the Work in progress, or involved detailed inspections of the Work beyond the responsibilities specifically assigned to Engineer in the Contract Documents; or (ii) that there may not be other matters or issues between the parties that might entitle CONTRACTOR to be paid additionally by OWNER or entitle OWNER to withhold payment to CONTRACTOR. 4. Neither Engineer's review of CONTRACTOR's Work for the purposes of Gee.ls recommending payments nor Engineer's recommendation of any payment, including final payment, will impose responsibility on Engineer to supervise, direct, or control the Work or for the means, methods, techniques, sequences, or procedures of construction, or the safety precautions and programs incident thereto, or for CONTRACTOR's failure to comply with Laws and Regulations applicable to CONTRACTOR's performance of the Work. Additionally, said review or recommendation will not impose responsibility on Engineer to make any examination to ascertain how or for what purposes CONTRACTOR has used the moneys paid on account of the Contract Price, or to determine that title to any Work, materials, or equipment has passed to OWNER free and clear of any Liens. 5. Engineer may refuse to recommend the whole or any part of any payment if, in Engineer's opinion, it would be incorrect to make the representations to OWNER referred to in paragraph 13.I.lB.2. Engineer may also refuse to recommend any such payment or, because of subsequently discovered evidence or the results of subsequent inspections or tests, revise or revoke any such payment recommendation previously made, to such extent as may be necessary in Engineer's opinion to protect OWNER from loss because: a. the Work is defective, or completed Work has been damaged, requiring correction or replacement; b. the Contract Price has been reduced by Written Amendment or Change Orders; c. Owner has been required to correct defective Work or complete Work in accordance with Paragraph 7.4 and 7.5. C. Payment Becomes Due 1. Thirty (30) days after presentation of the Application for Payment to OWNER with Engineer's recommendation, the amount recommended will (subject to the provisions of paragraph 13. 1. l.D.) become due, and when due will be paid by OWNER to CONTRACTOR. D. Reduction in Payment I. OWNER may refuse to make payment of the full amount recommended by Engineer because: a. Claims have been made against OWNER on account of CONTRACTOR's performance or furnishing of the Work; b. Liens have been filed in connection with the Work, except where CONTRACTOR has delivered a specific Bond satisfactory to OWNER to secure the satisfaction and discharge of such Liens; c. There are other items entitling OWNER to a set-off against amount recommended; or d. OWNER has actual knowledge of the occurrence of any of the events enumerated in paragraphs 13.l.l.B. through 13.1.l.B.5.c. GCC-16 If OWNER refuses to mak~ payment of the full amount recommended ,. Engineer, OWNER must !l1\C CONTRACTOR immediate written noll, (with a copy to Engineer! statlll!l tile reasons j~)r such action and promptly po CONTRACTOR any amoulJi remaining atter deduction of Ihe amount ,. withheld. OWNER shall promptly pay l'ONTRACTOR the amount ' withheld or any adjustment thereto agreed to by (lW'NFR an, CONTRACTOR. when CUNTRACTOR corrects to O',l,'NEW, satisfaction the reasons for such actio]). 3. If it is subsequently determined that OWNER's refusal of payment was nOI justified, the amount wTongfully withheld shall be treated as an amounl due 'I' determined by paragraph 13. I .1 . C. ] " 13.2. CONTRACTOR's Warranty of Title: 13.2.1. The CONTRACTOR warrants and guarantees that title to all work materials and equipment covered by any application for payment, whether incorporated in the project or not, will pass to the OWNER at the time of payment free and clear of all liens, claims, security interests and encumbrances (hereafter in thes~ General Conditions referred to as "Liens"). 13.2.1.1. The CONTRACTOR agrees to furnish an affidavit stating that all laborers. material men and subcontractors have been paid on the project for work covered by the application for payment and that a partial or complete release of lien as may be necessary. be properly executed by the material men. laborers and subcontractors on the project for the work covered by the application for payment, sufficient to secure the OWNER from any claim whatsoever arising out of the aforesaid work 13.3. Correction of Work Before Final Payment: 13.3.1. The CONTRACTOR shall promptly remove from the premises all materiai condemned by the Engineer as failing to contoml to the Contract whether incorporated in the work or not. and the CONTRACTOR shall promptly replace and re-execute his own work in accord with the Contract and without expense to the OWNER, and shall bear the expense of making good all work of other CONTRACTORs destroyed or damaged by such removal or replacement. 13.3.2. If the CONTRACTOR does not remove such condemned work and materials within a reasonable time, fixed by \vritten notice. the OWNER may remove them and may store the materials at the expense of the CONTRACTOR. If the CONTRACTOR does not pay the expense of such removal within ten ( 1 0) days time thereafter, the OWNER may, upon ten (10) days written notice, sell such materials at auction or at private sale and shall account Jar the net proceeds thereof after deducting all the cost and expenses that should have been borne lw the CONTRACTOR. GCC.I? 13.4. Liens: Neither the final payment nor any part of the retained percentage shall become due until the CONTRACTOR shall deliver to the OWNER a complete release of all liens arising out of this Contract, or receipts in full in lieu thereof, and in addition thereto, in either case, an affidavit that so far as the CONTRACTOR has knowledge or information, the releases and receipts include all the labor and material for which a lien could be filed, but the CONTRACTOR may, if any subcontractor refuses to furnish a release or receipt in full, furnish a bond satisfactory to the Engineer to indemnify the OWNER against any lien. If any lien remains unsatisfied after all payments are made, the CONTRACTOR shall refund to the OWNER all money payments that the latter may be compelled to pay in discharging such a lien, including all costs, interest, and a reasonable attorney's fee. 13.5. Substantial Completion Review/Final Inspection: When the CONTRACTOR has completed the work in compliance with the terms of the Contract Documents, he shall notify the Engineer in writing that the project is ready for substantial completion review. The Engineer will then advise the CONTRACTOR as to the arrangements for inspection and what work, if any, is required to prepare the project or a portion thereof for inspection. When the Engineer determines the project or portion thereof is ready for inspection, he shall perform same, along with the CONTRACTOR and OWNER's Representative. Upon completion of the inspection, the Engineer will prepare a list of errors of either commission or omission by the CONTRACTOR reasonably observable and determined under the conditions governing and restricting said inspection. When all such errors have been corrected, a fmal re-inspection will be made. The process will be repeated until, in the opinion of the OWNER's Representative, the project has been completed in compliance with the terms of the Contract Documents as can best and reasonably be observed and determined under the conditions governing and restricting said final inspection. The Engineer will then, pursuant to such inspection and re-inspection, certify to the OWNER as to completion of final inspection. It is understood that the certification covers only those items which can be physically inspected and the Engineer's certificate indicates compliance within the standards of the construction industry as interpreted by the Engineer. 13.6. Final Acceptance: When the Engineer shall certify to the OWNER's Representative as to completion of the final inspection, the CONTRACTOR may make request for final payment. With the request for final payment, the CONTRACTOR shall furnish evidence satisfactory to the OWNER's Representative that the CONTRACTOR has fully paid all debts for labor, materials and equipment incurred in connection with the work. The CONTRACTOR must provide all evidence required by the Contract to assure the OWNER's Representative of complete compliance with all terms of the Contract. When the OWNER's Representative has satisfied himself as to compliance with the terms of the Contract and has received certification of final inspection, he will notify the CONTRACTOR of final acceptance by the OWNER's Representative. The date of final acceptance will be assumed as the date of final completion of the project unless previous agreement has been made by the OWNER's Representative GCC-18 with the t 'ONTRACTOR. 13,7, Final Payment: When final acceptance has been made by the OWNER, the Engineer will then review the amount of final request for payment and certify the amount of this approvaL lipon approvai of the Engineer, the OWNER wil1 make final payment (,f the Contract amount, plus all approved additions, less approved deductions and previous pavments made. ] 3.8. Ternlination of CONTRACTOR's Responsibility: The Contract will he considered complete when all work has heen finished, the final inspection certified by the Engineer, and the project finally accepted in writing by the OWNER. The CONTRACTOR's responsibility shall then tenninate except as otherwise required and set out in these Contract Documents. 14. WARRANTY AND GUARANTEE PROVISIONS: All materials and equipment furnished by the CONTRACTOR and all construction work and workmanship involved in this Contract shall be, and the same is hereby guaranteed and warranted by the CONTRACTOR for a period of one (1) year, or the time designed in the standard factory warranty, whichever is longer from written final acceptance by the OWNER All materials, equipment and workmanship furnished, installed and performed by the CONTRACTOR is warranted and guaranteed by the CONTRACTOR to the OWNER to be such as to meet the required standards and to accomplish the purposes and functions of the project as defined, detailed and specified in these Contract Documents. The OWNER shalL following discovery thereof, promptly give written notice to the CONTRACTOR of faulty materials, equipment, or workmanship within the period of guarantee. Any part of the equipment, material or workmanship which does not comply with the warranty and guarantee shall be promptly replaced by the CONTRACTOR at his own cost and without cost to the OWNER. These warranty and guaranty provisions create no limitations on the OWNER as to any claims or actions for breach of guaranty or breach of warranty that the OWNER might have against parties other than the CONTRACTOR, and do not constitute exclusive remedies of the OWNER against the CONTRACTOR and are not intended to and shall not limit any other rights. remedies, or causes of action which the OWNER might exercise against the CONTRACTOR. and shall nllt alter nor modify the application of the Statute of Limitations as established by the Statutes of the State of Florida. Venue shall be in Palm Beach County. Florida; therefore this Contract i, governed by the Laws of Palm Beach County and the State of Florida. 15. EXISTING UNDERGROUND UTILITIES: Representation of underground utilities is shown from information received tfom the various utility OWNERs. The locations or elevations of utilities are not represented to be exact and are shown for the convenience of the CONTRACTOR The CONTRACTOR shall contact the utility OWNER concerned for any available additional information and coordinate his construction activities accordingly. Any cost incurred for the protection of and/or damages to existing GCC-19 underground utilities will be considered as part of the applicable Contract price and no additional compensation will be paid to the CONTRACTOR. If, in the judgment of the Engineer, it is impossible to construct a given improvement in the location shown on the drawings, as a result of underground utility or utilities, either the utility OWNER will move the existing underground utility or an appropriate Change Order will be executed for the moving by the CONTRACTOR. 16. CLAIMS AND DAMAGES: 16.1. Requirement for Notice: Any requirement of the Contract Documents (or) for notice or direction by the Engineer shall be a condition precedent to be complied with by the CONTRACTOR before any claim for extra compensation can be made. See definition of "Notice", Page GCC-I. 16.2. Claims for Extra Cost: If the CONTRACTOR claims that any instructions in writing or by drawings or otherwise involve extra cost under this Contract, he shall give the Engineer written notice within a reasonable time after the receipt of such instructions, and in any event before proceeding to execute the work, except in emergency endangering life or property. A decision by the Engineer will then be made as specified in Paragraph 9.1 of this division. If this decision requires a Change Order, the procedure shall be as provided for in the Contract, Paragraph 8.0, Changes in the Work. See definition of "Notice", Page GCC-1. No claim shall be valid unless so made. 16.3. Claims for Damages: Any claim for damages by the CONTRACTOR against the OWNER arising under this Contract shall be made in writing to the party liable within thirty (30) days of the first observance of such damage, except as expressly stipulated otherwise in the case of faulty work or materials and shall be adjusted by agreement validated by Change Order. Any claim not reported within thirty (30) days shall not be considered valid. See definition of "Notice", Page GCC-1. 16.4. Liquidated Damages: If the CONTRACTOR refuses or fails to prosecute the work, or any separable part thereof, with such diligence as will insure its completion within the time specified in the proposal, or any extension thereof, or fails to complete said work within such time, the OWNER may, by written notice to the CONTRACTOR, terminate his right to proceed with the work or such part of the work on which there has been delay. In such event, the OWNER may take over the work and prosecute the same to completion, by Contract or otherwise, and the CONTRACTOR and his Sureties shall be liable to the OWNER for any excess cost occasioned the OWNER thereby. If the CONTRACTOR's right to proceed is so terminated, the OWNER may take possession of and utilize in completing the work such materials, appliances, and plant as may be on the site of the work, and necessary therefore. If the GCC-20 OWNER does not term mate the right of the CONTRACTOR tp !'!<IlTC "" CONTRACTOR shall continue lt1e work, in which event the actual damaf!es inr till' deli; will be impossible to determine and in lieu therefore. the CONTRACTOR shall Ilill ((I 11" OWNER the sum specified in the Instructions to Proposers. Paragraph 24 as i'1xecL agree upon as liquidated damages I(H each calendar da\ nf the dela\ until cerlil;eiHH>1I substantial completion by the ()\\'C,FR. 16.5. Additional Enginecr }'xpelN' Should the CONTRACTOR fail to complete the work during the specified number nf calendar days. it is agreed that for each day of overrun until final completion, all expense of supervision and inspection furnished by the OWNER and/or the Engineer shall be at the expense of the CONTRACTOR and/or his Surety. Such architectural expense shall he considered to be equal to the job payroll of the OWNER and/or the Engineer plus 150 percent (150%) thereof for overhead. plus on-the-job mileage. Such architectural expense will be deducted from monies due the CONTRACTOR. The amount of such expenses shall be construed to be in addition to other damages for delays that might be assessed by the OWNER. 17. INTERPRETATION OF CONTRACT: In the event of a conflict in the interpretation of the Contract or the terms of the ('ontract, or the drawings and specifications, the opinion of the Engineer shall be final. 18. INDEMNIFICATION: 18.1. The CONTRACTOR shall indemnify and hold harmless the OWNER. the Engineer. and its other agents, officers and employees from and against all claims, damages. losses and expenses, including but not limited to attorney's fees, arising out of or resulting from the work, provided that the claim, damage, loss and expense is caused in whole or in part by any negligent act or omission of the OWNER. the CONTRACTOR. any subcontractor, anyone directly or indirectly employed by anyone of them or anyone for whose acts any of them may be liable. regardless of whether or not it is caused in part by a party indemnified hereunder. 18.2. The OWNER agrees to pay to the CONTRACTOR the sum of $500.00 as specified consideration for the above stated indemnification in accordance with the provisions of F.S.A.. Section 725.06. 19. ROYALTIES AND PATENTS: The CONTRACTOR shall pay all royalties and license fees for equipment or processes 111 conjunction with the equipment he is furnishing. He shall defend all suits or claims tln infringement of any patent right and shall save the OWNER harmless from loss on account thereof and cost and attorney's fees incurred therefore. GCC-2\ 20. CLEAN-UP: The CONTRACTOR shall keep the construction site free of rubbish and waste materials and shall restore to their original condition those portions of the site disrupted by the construction. Clean up and restoration shall be accomplished on a continuing basis throughout the Contract period and in such a manner as to maintain a minimum of nuisance and interference to the OWNER, residents and workers at or adjacent to the project site. The CONTRACTOR shall also remove, when no longer needed, all temporary structures and equipment used in his operations. It is the intent of this specification that the construction areas and those other areas not designated for alteration by the Contract Documents shall be restored to their original condition as nearly as possible. 21. SANITARY REGULATIONS: Adequate sanitary conveniences for the use of persons employed on the work, properly secluded from public observations, shall be constructed and maintained by the CONTRACTOR in such a manner and at such points as shall be approved by the Engineer. These conveniences shall be maintained at all times without nuisance and their use shall be strictly enforced. Upon completion of the work, they shall be removed from the premises, leaving all clean and free from nuisance. No existing facilities will be used by the CONTRACTOR or any of the subcontractors. 22. INSPECTIONS AND TESTING OF MATERIALS AND EOUIPMENT: The CONTRACTOR shall pay for all tests required on equipment or materials. Copies of tests or certifications on pipe, brick or other materials made at the factory shall be furnished in triplicate to the Engineer. Test reports on equipment shall be reviewed by the Engineer before the equipment covered by the tests is delivered to the project site. Test requirements are set out in the detailed specifications for the particular materials. 23. SAFETY AND HEALTH REGULATIONS: 23.1. The CONTRACTOR shall comply with the Department of Labor Safety and Health Regulations for construction promulgated under the Occupational Safety and Health Act of 1970 (PL 91-596) and under Section 107 of the Contract Work Hours and Safety Standards Act (PL 91-54). 23.2. The CONTRACTOR shall allow representatives of the Department of Labor full access to the Project for inspection. 23.3. The CONTRACTOR certifies that all employees, subcontractors, agents, etc., shall comply with OSHA and state and safety regulations and requirements. GCC-22 SUPPLEMENTARY GENERAL CONDITIONS FOR CONSTRUCTION 1. SIGNAGE: No individual advertising signs, plaques or credits, temporary or permanent, will be permitted on or about premises except names of respective CONTRACTOR painted on his office or material shed. 1.1 Project Identification Sign: A. Provide one painted sign, 3 ft. x 3 ft. ; bottom 3-4 feet above ground; installed in a prominent location approved by OWNER. Sign constructed of %" exterior grade plywood mounted on 4" x 4" pressure treated wood posts, and painted by a professional sign painter. No other signs are allowed without OWNER permission, except those required by law. B. Content: Design and color shall be as approved by OWNER's Representative. Content as determined by BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. C. Maintenance: Maintain sign and supports; clean, repair deterioration and damages. D. Removal of signs: Remove sign, framing, supports, and foundations at completion of project. 1.2 Provide as soon as site is secure, "NO TRESPASSING - DESIGNATED CONSTRUCTION SITE" signs and "THIS IS A HARD HAT AREA" signs as applicable and required. 2. PROJECT MEETINGS 2.1 Requirements Included A. CONTRACTOR shall schedule and administer periodic progress meetings and specially called meetings throughout progress of the work. I) Prepare agenda for meetings 2) Distribute written notice of each meeting four (4) days in advance of meeting date 3) Make physical arrangements formatting C-l .f i Preside at meetings ", Record the minutes, including significant proceedmgs anLll,,~,']sjll!lS ()) Reproduce and distribute copies of minl1\es Wllhll1 three 13) days after each meeting to participants in the meeting ana 10 parties allected In decisions made at the meeting, Furnish three 131 copies of minutes It, OWNER's Representative, 8, Representatives of CONTRACTOR. subcontractors and suppliers attending meetings shall be qualified and authorized to act on behalf of the entity cach represents, C. OWNER's Representative will attend meetings to ascertain that work " expedited consistent with contract documents and construction schedules, D. Suggested Agenda: I) Review of work progress since previous meeting 2) Field observations, problems, conflicts 3) Review of off-site fabrication, delivery schedule 4) Corrective measures and procedures to regain projection schedule 5) Revisions to Construction schedule 6) Progress schedule during succeeding work period 7) Coordination of schedules 8) Review submittal schedules: expedite as required 9) Maintenance of quality standards 10) Review proposed changes II) Other business 3. PROJECT RECORD DOCUMENTS 3.1 Requirements Included A. Maintain at the site of the OWNER. one record copy of: c ~ 2 I) Drawings 2) Specifications 3) Change orders and other modifications to the Contract 4) Architect Field Orders or written instructions 5) Approved Shop Drawings, Product Data and Samples 6) Field Test Records 3.2 Related Requirements A. All applicable sections of the Specifications B. Conditions of the Contract 3.3 Maintenance of Documents and Samples A. Store documents and samples in CONTRACTOR's field office apart from documents used for construction. Provide files and racks for storage of documents and samples. B. File documents and samples in accordance with Section number listings of these specifications. C. Maintain documents in a clean, dry, legible condition. Do not use record documents for construction purposes. D. Make documents and samples available for inspection by Architect. 3 .4 Recording A. Label each document, "PROJECT RECORD" in neat, large printed letters, or by rubber stamp. B. Record information concurrently with construction progress. Do not conceal any work until required information is recorded. C. Project Record Documents shall be made available to the OWNER or his representatives for inspection to assure the "As-Builts" are up to date before monthly pay requests are approved. D. Drawings, legibly marked in ink, to record actual construction: C - 3 11 Location p, internal utilities and appurtenances conccak,;, j, ,', constTuCliOl; referenced to visible and accessible lealurc, structure 2) Field cnanges of dimension and detail 3) Changes made by Field Order or by ('hange Order 4) Field developed details not on original Contract document, E. Specifications and Addenda: Legibly mark each Section to record changes made by Field Order or by Change Order. 3.5 Submittal A. At Contract close-out. deliver Record Documents to (lwner s Representative/Engineer and to the OWNER END OF SUPPLEMENTARY GENERAL CONDITIONS FOR CONSTRUCTION ('.4 "DRAFT" SUBJECT TO REVISIONS PRIOR TO SIGNING CONTRACT THIS AGREEMENT made and entered into this day of , A.D. 20 . by and between the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, a municipal corporation of Florida, and hereinafter called the "CONTRACTOR". a Florida Corporation L----> a Florida General Partnership L----> a Florida Limited Partnership L----> a Sole Proprietor L----> Check One hereinafter called "CONTRACTOR". WITNESSETH That under the due procedure of law, proposals were heretofore received by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY for the performance of work and supplying materials, hereinafter described, and said Agency having canvassed said proposals, had determined that the proposal in the total amount of submitted by the aforementioned CONTRACTOR was the best and most desirable proposal submitted, and has authorized the execution ofthis contract. NOW, THEREFORE, in consideration of these premises and the mutual conditions and covenants contained herein, the parties agree as follows: 1.0 AGREEMENT 1.1 The BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY does award the contract to and does hire and employ the CONTRACTOR and the CONTRACTOR does accept the award, predicated upon the proposal of the CONTRACTOR, dated , which is hereby incorporated by reference into this agreement, and the CONTRACTOR does agree to furnish the necessary labor, tools, equipment, materials and supplies, etc., and to perform all the work provided in the proposal, contract documents, bond documents, plans and specifications for: Proposal Title: Proposal Number: NAME OF PROPOSAL 000-0000-09/CRA C - 5 all of which are incorporated herein tw reference <It such unit prices,'"r lump sum prices as specified in CONTRACTOR' ~ nroo""l; lolalin!1 2.(1 SCOPE OF SERVICES 2.1 CONTRACTOR further agrees to furnish ali materials. supplies. machines. equipment, tools, superintendents, labor, insurance, and other accessories and services necessary to complete said project in accordance with the conditions and prices as stated in the contract, General Conditions for Construction. and Supplementary Conditions for Construction. plans which include all maps. plats. blueprints, and other drawings and printed or written explanatory matter thereof as contained in the proposal, contract documents and specifications for the project. 2.2 All the work and labor performed under this contract shall be performed. and all of the material furnished shall be, in strict conformity with said plans and specifications, and CONTRACTOR accepts and consents to the conditions contained in said plans and specifications and expressly agrees to comply with every requirement and stipulation therein contained to be performed by the party contracting to do said work. 2.3 The CONTRACTOR further agrees to furnish all tools, equipment. materials and supplies and to do all the work above mentioned in a first-class. substantial and workmanlike manner, and in conformity with the detail for said work on file in the office of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer and strictly in accordance with the specifications. general stipulations and plans which are hereby referred to and made a part of this contract, as well as to the satisfaction of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Executive Director or designee, at and for the prices herein plainly set forth. 2.4 Upon receipt of written notification from the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. to correct any defective or faulty work or materials which may appear within one (I) year after completion of the contract and receipt of final payment. CONTRACTOR shall make the necessary corrections within ten (10) days of receipt of the written notice. 2.5 To comply with the provisions of Section 255.05. Florida Statutes, if applicable. 2.6 To pay promptly. before final settlement, any and all claims or liens incurred in and about this work. Furnish release of liens forms from all subcontractors and suppliers of materials. C - 6 2.7 The CONTRACTOR shall remove and clean up all rubbish, debris, excess material, temporary structures, tools and equipment from streets, alleys, parkways and adjacent property that may have been used or worked on by the CONTRACTOR in connection with the project promptly as such section or portion is completed and ready for use, leaving the same in a neat and presentable condition. Payment may be withheld until this has been done to the satisfaction of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. Final acceptance and payment for the entire project will not be made until the site is satisfactory to the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. 2.8 The CONTRACTOR shall at all times observe and comply with the provisions of the charter, ordinances, codes and regulations of the City of Boynton Beach, of Boynton Beach, Florida. 2.9 Upon completion of the work, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer shall satisfy himself, by examination and test, that the work has been fully completed in accordance with the plans, specifications and contract documents. When the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer is so satisfied, he shall recommend acceptance thereof to the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Executive Director or their designee, who shall, if in agreement with such recommendation, present the final payment application to BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Board for review and vote to formally accept the project. The right of general supervision of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY as hereinafter provided under "authority of the engineer" shall not make the CONTRACTOR an agent or employee of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, but the CONTRACTOR, shall at all times, and in all respects have the rights and liabilities of an independent CONTRACTOR. 2.10 After the cleaning up of the work, premises, streets, alleys, manholes, catch basins, or other areas of structure in anyway connected with the performance of the contract, the work as a whole shall be inspected by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer, and any workmanship or material found not meeting the requirements of the specifications shall be removed by or at the expense of the CONTRACTOR and good and satisfactory workmanship or material substituted therefore. All settlement, defects or damage upon any part of the work shall be remedied and made good by the CONTRACTOR. 2.11 The CONTRACTOR will be held responsible for the care, protection and condition of all work until final completion and acceptance thereof, and will be required to make good at his own cost any damage or injury occurring from any C -7 L'(lU~:... 3.0 COMMENCEMENT OF WORK 3.1 CONTRACTOR hereby agrees to commence \'Iork uI1l1er thl, contract un 01 before a date to be specified in the written "Notice to Proceed" of the BOYNTO)\ BEACH COMMUNITY REDEVELOPMENT AGENCy and to fully complete the project within 180 calendar days following the commencement date a, specified in same. 3.2 Time is the essence of the contract. In the event the CONTRACTOR shall fail in the performance of the work specified and required to be performed within the time limit set forth in the contract. after due allowance for any extension or extensions of time made in accordance with herein before set forth. the CONTRACTOR shall be liable to the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, as liquidated damages and not as penalty, in the amount stipulated therefore in the General Conditions for Construction or in other documents for each and every calendar day that the CONTRACTOR shall he in default of completion. The BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY shall have the right to deduct said liquidated damages from any amount due. or that may become due the CONTRACTOR, or to collect such liquidated damages from the CONTRACTOR or his Surety. 3.3 CONTRACTOR shall, as soon as practicable after signature of contract. confirm with BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer in writing, the names of subcontractors as originally proposed for principal parts of work, and for such others as BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer may direct CONTRACTOR shall not employ any that BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer may. within a reasonable time, object to as incompetent or as unfit. 4.0 LIQUIDATED DAMAGES 4.1 The CONTRACTOR further agrees to pay $ 3000.00 per day as liquidated damages, for failure to begin within ten (10) days of "Notice to Proceed" ur failure to complete the work within ...1Jill... calendar days from the commencement date to be indicated in the written "Notice to Proceed", 5.0 PROTECTION OF EXISTING FACILITIES 5.1 The CONTRACTOR warrants that prices include the protection and continuous use of all existing sewers, conduits, drains, pipes, buildings, walks. bridges, guard rails and other construction encountered, and the prompt repairing of any danlage C - 8 done to them during the progress of the work, or from insufficient support thereafter; also all the filling, backfilling, tamping, ramming, puddling and consolidating; the removal and disposal of all rubbish and surplus material; also all pumping bailing draining or unwatering of all excavations, incidental to the execution of the work; also the furnishing of all necessary labor, tools, equipment, materials and supplies, etc. and the performance of the whole work mentioned in the detailed plans and specifications necessary to give a finished result, and including all expense incurred in or in consequence of the suspension or discontinuance of the said work specified and a faithful compliance with each and every one of the requirements of the contract and for the maintenance of the entire work and construction in good condition and repair until final acceptance. 5.2 The CONTRACTOR shall assume full responsibility and expense for the protection of all public and private property, structures, water mains, sewers, utilities, etc., both above and below ground, at or near the site or sites of the work being performed under the contract, or which are in any manner affected by the prosecution of the work or the transportation of men and materials in connection therewith. The CONTRACTOR shall give reasonable written notice in advance to the department of the City of Boynton Beach having charge of any property or utilities owned by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY and to other OWNER or OWNERs of public or private property or utilities when they shall be affected by the work to be performed under the contract, and shall make all necessary arrangements with such department, departments, OWNER or OWNERs for the removal and replacement or protection of such property or utilities. 6.0 INDEMNIFICATION 6.1 The CONTRACTOR shall indemnifY and save harmless and defend the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, its agents, servants, and employees from and against any claim, demand, or cause of action of whatsoever kind or nature arising out of error, omission or negligent act of CONTRACTOR, its agents, servants, or employees in the performance of services under this Agreement. 6.2 CONTRACTOR shall indemnifY and save harmless and defend BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, its agents, servants and employees from against any kind and all causes, claims, demands, actions, losses, liabilities, settlements, judgments, damages, costs, expenses, and fees (including without limitation reasonable attorney's and appellate attorney's fees) of whatsoever kind or nature for damages to persons or property caused in whole or in part by any act, omission, or default of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, its agents, servants or employees arising from this contract or its performance. The CONTRACTOR and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY hereby agree and covenant that the CONTRACTOR has incorporated in this original C.9 proposal, which constitutes me contract sum payable by the BOYNTON BU\, COMMUNITY REDEVELOPMH,T AGENCY to the CONTRACTOR, speel! additional consideration suftlcielH [(I support this obligation of indemniticau, provided for in this paragraph II is the BOYNTON BEACH COMMI!NJ. REDEVELOPMENT AliENCY'" and CONTRACTOR'S full intention [hat 111' provision shall be enforceahlc and said prmision shall be in compliance "'" Florida Statute 725.0(, 6.3 The execution of this Agreement by the CONTRACTOR shall obligal' CONTRACTOR to comply with the foregoing indemnification provision, as wu, as the insurance provisions which are set forth in the Request for Proposals, Xi. A.(3) Insurance Qualifications attached hereto. However. the indemniticati()n provision, and the insurance provision contained in this ('ontran are not interdependent of each other. each one is separate and distinct from the other. 6.4 The obligation of the CONTRACTOR to indemnify the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY is not subject to any onset. limitation or defense as a result of any insurance proceeds available to either the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY ()J" the CONTRACTOR 7.0 PAYMENT BY BOYNTON BEACH COMMl!NITY REDEVELOPMENT AGENCY 7.1 The BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY agrees to pay the CONTRACTOR in current funds for the performance of the contract. subject to additions and deductions as provided in the specifications. 8.0 CHANGES IN THE WORK 8.1 The BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY without invalidating the Contract, may order extra work or make changes by altering, adding to or deducting from the work, the Contract sum being adjusted accordingly. All such work shall be executed under the conditions of the original Contract. Any claim for extension of time caused thereby shall be made in writing at the time such change is ordered. 8.2 All change orders and adjustments shall be in wrltmg and approved by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Executive Director or designee or BOYNTON BEACH COMMUNlTY REDEVELOPMENT AGENCY Board if required. otherwise, no claim for extras will be allowed. 8.3 The General CONTRACTOR and all of his subcontractors shall be apprised or. and familiar with, the following conditions and procedures governing extra work under the Contract: ('. 10 8.3.1 Any change order has to be recommended by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer Executive Director or designee and officially approved by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY before any steps are taken to implement the change order. 8.3.2 Should the CONTRACTOR or any of his subcontractors commence with the work without making a claim in writing for unforeseen extra work he encounters, it will be construed as an acceptance and agreement by him that any such work is required under the contract and no future claim for extras will be considered or allowed by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. 8.3.3 No claim for extra work will be allowed unless and until authority for same by written Change Order has been obtained from the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Manager, or if necessary, which authorization will be signed by the Executive Director or designee. 8.3.4 Changes in the work directed in writing by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer under the following procedures shall become a part of the Contract by a written Change Order. 8.3.5 Information regarding changes in the work involving claims to the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY for additional work, credits, and/or adjustments under the contract shall be promptly transmitted in writing by the CONTRACTOR to the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Engineer with full explanations and justifications for his consideration in preparing a Change Order to the Contract. 8.4 The value of any change ordered under the Contract for extra work and/or any reductions in work required, shall be determined under one or more of the following procedures before a written Change Order is issued: 8.4.1 By such applicable unit prices, if any, as are set forth in the Contract except in those cases where increases in quantities exceed fifteen (15) percent of the original proposal quantity and the total dollar change of that proposal item is significant in the opinion of the Engineer, the unit price shall be subject to review to determine if a new unit price should be negotiated; or 8.4.2 If no such unit prices are set forth, then by a lump sum or other unit prices mutually agreed upon by the BOYNTON BEACH COMMUNITY C-1I REDEVELOPMENT AGENCY and lilt 'lNTRACTOR: or 8.4.3 By cost reimbursement, which I' \Ill' actual cost for labor. direc1 overhead, materials, supplies, equipment and other services necessary 10 complete the work plus fifteen II:; I nercent to cover the eost of geneml overhead and profit. For all labor <Old ioreman in direct charge of the authorized operations, the CONTRAl lOR shall receive the current local rate of wages to be agreed upon in writing before starting such work. tOl each hour said labor and foreman are actually engaged thereon. An upper limit of total cost and of profit shall be agreed upon and shall not bt' exceeded unless approved by the BOYNTON BEACH COMMllNll i REDEVELOPMENT AGENCY 8.4.3.1 The CONTRACTOR shall submit suHicient cost and pricing data to enable the Engineer (0 determinc the necessity and reasonableness of costs and amounts proposed and the all 0\\ ability and eligibility of costs proposed. 8.4.3.2 The CONTRACTOR shall haw an accounting system which accounts for such costs in accordance with generally accepted accounting principles. This system shall provide for the identification, accumulation and segregation (\1' allowable and unallowable Change Order costs 8.4.3.3 Where it is indicated that the Contract IS Federally or State assisted, the CONTRACTOR'S attention is directed to the applicable rules and regulations relative to cost principles which must be used for the determination and allow ability of costs under grant. 8.4.3.4 In no case shall fringe benefit costs on direct labor costs exceed forty (40) percent of direct labor costs. 8.4.3.5 In no case shall the CONTRACTOR and Subcontractors' general overhead and profit in the aggregate exceed fifteen (15) percent of the total cost of direct laboL fringe benefits, direct overhead. materials. supplies, equipment and directly related services supplied by him. Among the items considered as general overhead are bonds, insurance. incidental job burdens. supervision and general office expenses. 8.4.3.6 In no case shall the CONTRACTOR'S cost for administering subcontracts exceed five (5) percent of the subcontractors' cost not including subcontractors' profit. 8.4.3.7 For special equipment and machinery such as power driven C - 12 pumps, concrete mixers, trucks, and tractors, or other equipment, required for the economical performance of the authorized work, the CONTRACTOR shall receive payment based on the agreed rental price for each item of equipment and the actual time of its use on the work provided that the rental price shall not exceed the current rates published by the Equipment Guide Book Company in the Blue Book, "Rental Rates for Construction Equipment". Rate shall be daily, weekly or monthly as appropriate. 8.4.3.8 Records of extra work done shall be reviewed at the end of each day by the CONTRACTOR and the Engineer. Such daily records shall clearly distinguish between the work done under the contract and that done under the Change Order. Duplicate copies of the accepted daily records shall be made, signed by the CONTRACTOR and the Engineer and one copy retained by each. 8.5 Claim of payment for extra work shall be submitted by the CONTRACTOR upon certified statement supported by receipted bills. Such statements shall be submitted for the current contract payment for the month in which the work was done. No claim for extra work shall be allowed unless that same was ordered, in writing, as aforesaid and the claim presented at the time of the first estimate after the work is completed. 8.6 No Field Change Directive or Change Order shall be authorized by the Project Manager if the CONTRACTOR has added language to the Field Change Directive or Change Order or to any cover letter, e-mail, facsimile, or other written document which accompanies the Field Change Directive or Change Order in which the CONTRACTOR attempts to reserve any future right or claim arising out of the work which is the subject of the Field change Directive or Change Order. 9.0 PROJECT ENGINEER 9.1 The project Engineer shall be Sea Diversified, Inc. 9.2 The Engineer shall have general supervision and direction of the work. The Engineer is the agent of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY only to the extent provided in the contract documents and when in special instances he has the authority by BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY to act, and in such instances he shall, upon request, shows CONTRACTOR written authority. The project engineer has the authority to stop the work whenever such stoppage may be necessary to ensure the proper execution of the contract. 9.3 As the Engineer is, in the first instance, the interpreter of the conditions of the contract and the judge of its performance, he shall side neither with BOYNTON C -13 BEACH COMMl'NITY REDEVELOPMENT '\(il'l,' " 11i, CONTRACTOR., but shall use his power under the contract to "nIlll'.', "laitl1lu performance bv botL 10.0 INSURANCF 10. I The CONTRACTOR shall maintain during the term of this contracl commercial liability. motor vehicle, and properiy damage insurance. acceptable to the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY wvering the work contracted and all operations connected herewith, and whene\ er an) or the work in the contract is to be sublet, CONTRACTOR'S contingent or protective liability and property damage insurance. Such insurance shall provide limits not less than those set forth under the insurance requirement schedule attached as specified in the Request for Proposals. IX, (A) Insurance Qualifications. 10.2 Required insurance shall be documented in a certificate of insurance which provides that the BOYNTON BEACH COMMUNITY REDEVELOPMENI AGENCY shall be notified at least fifteen (15) days in advance of cancellation. nonrenewal or adverse change. CONTRACTOR agrees to furnish policies i I Certificate ofInsurance is not acceptable. 10.3 The CONTRACTOR shall take all necessary precautions to prevent the generation of loud, unnecessary noise in conjunction with his operations at the work site. Internal combustion engines used with construction equipment shall bc equipped with mufflers, as required by the Code of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. and the CONTRACTOR shall comply with all requirements of this Code as they pertain to prevention of noise No pile driver, excavating or other construction equipment, pneumatic hammer. derrick, the use of which is attend by loud or unusual noise. shall be operated between the hours of 6:00 P.M. and 7:00 A.M.. except by written permission of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, and then only in case of emergency. 11.0 GUARANTEE AND WARRANTIES II, I All the work shall be guaranteed to remain in good condition for one year from date of acceptance. 12.0 TERMINATION OF CONTRACT 12.1 If the work to be performed under the contract is assigned by the CONTRACTOR other than provided for herein: if the CONTRACTOR should be adjudged as bankrupt; if a general assignment of his assets be made for the benefit of his creditors; if a receiver should be appointed for the CONTRACTOR or any of his property; if at any time the Engineer shall certify in writing to the BOYNTON C,14 BEACH COMMUNITY REDEVELOPMENT AGENCY that the performance of the work under the contract is being unnecessarily delayed or that the CONTRACTOR is willfully violating any of the conditions, provisions. or covenants of the contract, plans or specifications, or that he is executing the same in bad faith or otherwise not in accordance with the terms of the contract: if the work be not fully completed within the time named for its completion or within the time to which such completion date may be extended; or if other just causes exist, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY may serve ten (10) days' written notice upon the CONTRACTOR of the intent to terminate the contract for the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY and if the CONTRACTOR shall not, prior to the effective date of termination set forth in such notice, take such measures as will, in the judgment of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S Project Manager, ensure the satisfactory performance of the work, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY may declare the contract terminated on the effective date specified in such notice, or any date subsequent thereto. In the event of such termination, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY shall notify the CONTRACTOR and Surety and the CONTRACTOR shall immediately respect such notice and stop work and cease to have any right to the possession of the ground and shall forfeit his contract. Upon such termination, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY shall provide the Surety with written notice of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY'S action and the Surety shall within ten (10) days of receipt of said notice remedy the default or the Surety shall as expeditiously as possible: 12.1.1 Complete the contract in accordance with its terms and conditions, or 12.1.2 Obtain a proposal or proposals for completing the contract in accordance with its terms and conditions, and upon determination by Surety and the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY of the lowest responsible proposal, make available as work progresses (even though there should be a default or a succession of defaults under the contract or contracts or completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the contract price; but not exceeding, including other costs and damages for which the Surety may liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the contract price", as used in this paragraph, shall mean the total amount payable by BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY to CONTRACTOR under the contract and any amendments thereto, less the amount properly paid by BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY to CONTRACTOR. C - 15 13.0 CONTRACT CONTROLS 13.1 The subject contract between the BOYNTON BEACH COMMUNIT, REDEVELOPMENT AGENCY and the CONTRACTOR shall supersede any an, all documents executed between the parties relative to the project. In the event,,! any inconsistencies. the terms. provisions and conditions set forth in the sublecl contract shall supersede all other documents and shall he controlling. 14.0 TIME OF ESSENCE 14.1 Inasmuch as the provisions hereot~ and of the plans and specifications herein, and of all the other contract documents relating to the times of performance and completion of the work are for the purpose of enabling the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY to complete the construction of" public improvement in accordance with a predetermined program. all such time limits are of the essence of the contract. 15.0 REMEDY FOR DELAY 15.1 In the event of any delay in the project caused by any act or omission of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, its agent, or employees, by the act or omission of any other party. or delay caused by weather conditions or unavailability of materials, the sole remedy available to CONTRACTOR shall be by extension of the time allocated to complete the project. No monetary damages shall be claimed or awarded to CONTRACTOR in association with any delay in the project caused by an act or omission of the BOYNTON BEACH COMMUNITY REDEVELOPMENT AOENCY. its agents or employees. 15.2 Failure on the part of CONTRACTOR to timely process a request for an extension of time to complete the work shall constitute a waiver 11\ CONTRACTOR and CONTRACTOR shall be held responsible for completing the work within the time allocated by this contract. 15.3 All requests for extension of time to complete the work shall be made i" accordance with the General Conditions for Construction. 15.4 For the purpose of this section the phrase "the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY. its agents and employees" shall include but shall not be limited to the architect, project manager and consulting engineers. l'. 16 IN WITNESS WHEREOF, the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY has caused these presents to be signed by its BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BOARD CHARIMAN, attested by the BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Clerk with the Corporate Seal of the said BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY and the CONTRACTOR has executed this presence the day and year herein before written. Signed, sealed and witnessed BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY in the presence of: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Approved as to Form: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Legal Counsel Signed, sealed and witnessed in the presence of: CONTRACTOR President or the Vice President Attest as to CONTRACTOR C - 17 State of Florid' ) ) ss: County of Palm Beach On this da\ of ____.20_. personally appeared he/ore me duly authorized to to me knovm to be the administer oaths persons described herein and who executed the foregoing instrument and have acknowledged before me and they have executed sanle. Notary Public My Commission Expires: 05104/01 ktl C - 18 XI. EVALUATION AND RANKING PROCESS A. Evaluation Committee. An Evaluation CoDJJDitlec sbaI1 be &ppoinied by the Boynton Beach CRA Dncctor. The Committee will consist of six (6) penlODS, including public and private representatives. The Evaluation Committee shall review and rank the respondents based on criteria listed below. Based on this ranking, the Boynton Beach CRA sbaI1 negotiate with the highest ranked respondent. If negotiations are \1IIS1lCCeSSful with the highest ranked respondent, then negotiations with the next highest ranked respondent sbaI1 begin. Upon conclusion of the negotiations the Committee sbaI1 recommend to Boynton Beach CRA the award of the contract B. p..nkhtg Factors. Approved Proposals will be made on the basis of those proposals which contain the most advantageous combination of m..;gn, price. proven performaoce and service. The following items will be considered in this process: 1) Contractor qualifications and experience, including type, size and complexity of projects, and quality of construc:tion. 2) Product Manufacturer's qualifications and ability to meet project specifications and schedules. 3) Con1raCtOr's financial capacity. (Con1raCtOr must be able to provide a bond equal to the amowrt of their proposaL) 4) Tec1mica1 expertise in ~.a.,I.6:ont development projects. 5) Past and present development performance record (including ability to meet stated goals and timelines). 6) Compatibility of the responses to the Boynton Beach CRA's goals and objectives as set forth in the design documents. 7) Recommendations of references. 8) Other information as deUmnined to be helpful in ascertaining the qualifications of the respondent. 9) Language needed for consideration given to proximity of Contractor to project location as it affi:cts the number of trips and distances traveled relating to City's "Green" focus. C. Ranking Process. Each member of the Committee will score the individual proposals with assistance provided as needed. Each category will be scored and tabula1ed to achieve the To1Bl Points awanled to each Respondent. The Total Points awanled will be ranked on a ~t1ing scale starting with number one (1) being the highest point total, number two (2) being the next highest, and so on. Then the ranking of each respondent from each Committee Member will be totaled 10 determine the top ranking respondent. THIS PAGE TO BE SUBMITI'ED ALONG WITH PROPOSAL IN ORDER mIl PACKAGE TO BE CONSIDIJlED COMPLETE AND ACCEPTABLE 16 ^" ._,,'...i.....'\X"w;iiJ.''''':l\J..,~..,,'.:,.,~,.., """""",.r;lllif~~h''''''''''U __:- Boyn..... IIeIc:h CRA . BoynIDn IfllriIor MMlna SUp Rec:ollltnlctlon project . RFP SUbmlalonl . 5corI", (_111 approval pendl",) Au9U1t 4, 2009 VIvIan Brooks-CRA CRA Total MSCW Total MSCW Total Proposal Total TotlIlPolnts Points PoInts Points Amount PoInt1 S Custom Bulk Marine 65 65 71 80 $692,260.00 3'72 3 Shoreline Foundallon 85 82 80 81 $631,499.n 413 1 Z. PS Manne Construction n 78 60 7 55 7 $464,452.23 352 5 t.J Jason Bator-MEC 85 70 0 0 0 0 $459,OOll.IXJ' 210 7 ,. BK Manne 75 74 57 50 $546,843.84 313 6 West Construdlon 80 65 57 53 $481,526.89 365 4 I M ConstrudIon 90 53 n 79 3 047.00 407 2 3 X ')<( 80,- Beach eRA SlIp Reanatruc:tlon project - RFP Submlulons - draft Scoring -8r1an smith, WlyPOlnt MarIne :JuIy-ll9 RrmQualllfcations Com 30 tnts Custom au arfne 24 Shoreline foundation 30 P8 MlIl1ne Construdlon 22 Jason Bator-MEC 26 8/( Marine 17 West ConstructIon 28 M Cansll\ldIon 30 Proposal (25) nts PoInt Totals 13 71 16 85 24 82 25 85 19 57 22 89 9 78 . 80yntDn II8adI CRA SlIp R-*"dIon ProlKt - RFP Submllllon. - draft Scoring - DavId PwTy, MSCW, lnc. July-Ot ProfessIonal Cost fee Approach (20 Proposal (25 Com PoInts PoInts TobI' PoInts Custom au arfne 8 18 71 Shoreline Foundation 5 20 80 P8 _ COns/TlIdIon 0 25 80 ? IlaIor-MEC 0 0 0 8/(_ 0 22 57 0 West ConstructIon 5 22 57 Mu Construdlon 15 10 n Boynton BeKh CRA SlIp RecllnotructIon Project. RFP _millions. dl'lft ScIIIring . DerIck Taylor, MSCW, Ine. Ju/y-Gt ng Qualifications of Firm Capacity (10 Approach (20 Ptoposal (25 30 Points PoInts Points PoInts Total PoInts CUSlDm MllI1ne 3D 10 10 18 50 Shoreline Foundallon 30 10 5 22 81 Pe Martne Construction 18 10 0 22 55 ? Bator-MEC 0 0 0 0 0 BKMllI1ne 12 8 0 22 50 0 West Construction 10 10 8 20 53 Mu ConslrUcUon 30 10 15 12 79 IIoynlIm Beach CIlA SlIp RealnstructkIII Profect - RFP SUbmllllonl- draft: Scoring. M1chaeI5Imon, CIlA JuIy-G9 CliSIDm au anne ShorelIne Foundation P8 Marine Constructton Jason Ilator-MEC BI( Marine West Construction M ConstNcllon ng C8pacit!I (10) AssIgned Staff (15) Inls 15 15 15 10 15 15 15 17 23 2S 19 21 13 Boynton Beach CItA IlIIp RealnstructkIII Project - IFP SUbmllllonl- draft: Scoting -1/lvlan lroob, CRA JuIr-G9 ng CapacIty (10) AssIgned staff (15) nts nls 10 10 10 15 5 15 o 5 10 10 10 10 10 15 10 15 15 10 10 20 20 Point Total 85 82 78 70 74 88 83 XI. OLD BUSINESS: D. Consideration of Purchasing Vacant Lots Located on NE 4th Avenue from CDC in the Amount of $300,000.00 "- /''',. ,.' i::. '(.'"'''',~>'' .'\ 1~~~Y~T8~ eRA Ii East Side-West Side-Seaside Rena',ssance eRA BOARD MEETING OF: September8,2009 I Consent Agenda I X I Old Business New Business Legal Other SUBJECT: Consideration of Purchasing Vacant Lots on NE 4th Ave from CDC for $300,000 SUMMARY: . Staff brought the potential purchase ofthe above-referenced property (see attached map) to the July 14th Board meeting (See attached minutes from July 14, 2009). . The Board directed that staff obtain an appraisal of the property. . The mortgage balance on the property is $533,000 . Three separation valuations were done on the property: o Comparative value analysis on May 8, 2009 for owner, Boynton Beach Faith-Based Community Development Corp. - $299,900 (See attached) o Appraisal on June 10,2009 on behalf of the lender, Local Initiative Support Corp. - $300,000 (See attached) o Appraisal on August 9, 2009 on behalf ofCRA - $300,000 (See attached) . With the additional property, the CRA's ownership of the block will be approximately 75% or 5.35 acres. . Potential redevelopment scenario is attached. FISCAL IMPACT: $300,000 from HOB funds. Heart of Boynton Community Redevelopment Plan Enter into a purchase agreement with the CDC for $300,000. T:\AGENDAS. CONSENT AGENDAS. MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 200B - 2009 Board MeetingsI9-B-09 MeetinglCDC Lot purchase.doc ~) -) -; Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida July 14, 2009 in communication. Further discussion indicated the Committee should appoint a Chairperson to give updates to the Board The motion given at the March 10, 2009 meeting was to gain community input which was what staff did A Chairperson could be selected following Roberts Rules of Order. Motion Mr. Rodriguez moved to table the item. Vice Chair Hay seconded the motion that unanimously passed. 4. Consideration of Purchasing Vacant Lot on NE 4th Street Ms. Brooks explained this item was discussed in May. A map was included with the meeting materials which reflected the Community Redevelopment Agency owned slightly over three acres. The offer of the lot arose because the lot was going into foreclosure. The Community Development Corporation paid $470,000 in 2007. The outstanding loan amount was $533,200. The size of the lot was nearly 0/.0 of an acre. A bank appraisal indicated the lot was valued at $300,000. The bank was asking for $330,000. Staff indicated they would obtain an additional appraisal. The cost of an appraisal would be $1,200. After further discussion, there was consensus to obtain an appraisal. 5. Consideration of Purchase of Public Art for Heritage Park The Community Committee participated in a trolley tour of the entire Community Redeveiopment Agency area. One item considered was having public art as a component of the Seacrest Streetscape design. The committee viewed the Avenue of the Arts to select which piece would be the best for Heritage Park. The group chose the Butterfly Mandella at a cost of $3,200. Staff was recommending they purchase the piece and store it until the streetscape construction commences. It was also noted, the Butterfly Mandella piece would not be replacing the commemorative plaque that presently existed. Motion Mr. Weiland moved to purchase the piece. Vice Chair Hay seconded the motion. There had been previous dialogue about $10,000 worth of pUblic art which was voted down. Ms. Bright clarified the piece would be purchased with stimulus funds. Ms. Brooks also noted if they wanted the piece, they had to acquire it because the Avenue of the Arts pieces were replaced each year. The funds were coming from the $1.6 million for the project until the stimulus monies were received. The consultants recommended the piece be acquired and ready. The artwork was a large piece and there was discussion if the price was negotiable. Ms. Brooks explained the price was originally $3,600. Barbara Ready, 329 SW 13th Avenue, speaking as the Chair for the Avenue of the Arts Commission. explained the price was excellent. Public Art typically sells for a lot more 15 Prepared for Boynton Beach Faith Based C.D.C. NE 4th Av Tax 10: 08434521290030020 Tax 10 08-43-45-21-29-003-0032 Luzla P. Duprey, Home Run Real Estate 2918 Jog Road, Green Acres, FL 33467 Office: 561-433-38361 Cell: 561-602 7622 http://rmlsfl.mlxchange.comlPub/GetViewEx.asp Page 1 of 1 ~) j ): ') 5/8/2009 Page 1 of ] Comparative Summary MlS# .L9tF.mtgj! Depth Agj!.I!ge Froot!;.1<P Wtrfnt WTR Front;!gj!! ll.st Pric.e Sale Pric\: R2768888 140 307 1.0 S N $ 199,900 000000 S 71 Av DOM: 820 Status: Active MlS# l.otErntqe Depth Acre.llge FrO!1t J;XP Wtrfrrt WTR FrO!1tag!! List Pri~ Sale Price R2939781 167 120 0.75 S N $ 250,000 Sw 8th St DDM: 291 Status: Active MJ..S1t Lot.Fxntgg ~RJ:1! Acreage Fxom.El(fl Wttlnl; WIll FrOntage U,t .Pri~Q sale Price R2971221 118 175 0.474 N Y $ 525,000 10714 Pine Tree Ter DOM: 184 Status: Active tollS# Lotfr!l.t!ll! Depth Acr!!llge FrOnt Exp W!rfnt WTJU'rC:lJ1.!;Ige List Price Sale Price R2938647 130 193 0.6 W Y $ 599,000 NE 10TH AVE DDM: 297 Status: Active MlS_# LQt I'r!!!m! Depth Acr@.l!9!! Front Exp Wtrfot WTR Frontaqe List PrlC!! Sille Price R2532017 1.1 S N $ 299,900 $ 299,900 LOT 10 HINDEL Ct DDM: 31 Status: Sold Page Total Statistics: Sq~.re ~..t!IM Ust'pri~" ,.J".1'r!g Average 0 374,760 299,900 Minimum 0 199,900 299,900 Maximum 0 599,000 299,900 Median 0 299,900 299,900 Report Total: S SquilrliLF.!!.ot'!!le 1J51.I'r!ce ~Ie Price Average 0 374,760 299,900 Minimum 0 199,900 299,900 Maximum 0 599,000 299,900 Median 0 299,900 299,900 These prope.rties are your competitiOn. A pGtentla\ plJfthastr will tOffipaTe your home to homes similar to these when trying to decide which to buy. Take a look at these homes, If only on paper. Try to be objective and ask yourself, "Whkh home Is the best value?" Is it yours?" 1f not, these other homes may sell before yours, But don't forget that the "List Prices. of these homes represent what the sellers WANT for their home, not necessarily what they are reaUy going to get If the't sell tllelr home. So when settlng the price of your home, oon't slmply look at the LIST PRICE of the other comparable homes, loOk at the SALE PRICE of comparable homes to yours that actually SOLDI .... Information herein deemed reliable but not guaranteed --- Copyright: 2009 RegiOnal MLS Inc. (palm Beach) 05/08/09 11:22 AM http://rmIsfl.mlxchange.com!Pub/GetViewEx.asp 5/8/2009 Page 1 of 1 Comparative Homes ~~~~~~~~~ ,.~~~, "-_"'I'~'V . '.s.........~ro,,.;,.,: ~~~ffJE~~Jg · ... .._.;;~:3r~~""~ ;f,'~~ "'<~ f.". ,,:.r' ~. .,/.,?<~ . }I No Photo Available NE 4th Av NE 10TH AVE Sw 8th St MLS# R2938647 R2939781 Status Active Active Subdivision Shepard Add Boynton LAKE ADD TO BOYNTON Lake Boynton Estates 01 Area 4330 4330 4430 City Boynton Beach Boynton Beach Boynton Beach Zip 33435 33463 33426 Tax ID 08434521320060010 08434529010150140 Sub Type Liv SqFt/Tot Style SINGLE FA MUL-F M D SINGLE FA Depth 193 120 Frontage 100 130 167 Front Exp S W S Lot Description 1/2 - IT 1 AC 1/2 - L T 1 AC 1/2 - L T 1 AC Miscellaneous Plan ~, Waterfront Y IN Y N Waterfront Intracoastal Location SUBDIVISION SUBDIVISION, CITY Improvements NONE CLEARED,CURB,SIDEWALK Road PUBLIC, PAVED PUBLIC DIRT Special Info Util on Site NONE ELECTRIC Usage Pending Date Sale Date List Price $ 599,000 $ 250,000 Sale Price List Price/SF Sale Price/SF SP / LP Ratio Taxes $ 4,794 $ 369 $ 1,068 ---- Information herein deemed reliable but not guaranteed _0-- Copyrtght: 2009 Regional MLS Inc. (Palm Beach) 05/08/09 11:23 AM -) http://rmlsflmlxchange.com/Pu b/Get V iewEx.asp 5/8/2009 Page 1 of 1 (Oo Comparative Homes No Photo Available No Photo Available 10714 Pine Tree Ter 000000 5 71 Av LOT 10 HINDEL Ct MLS# R2971221 R2768888 R2532017 Status Active Active Sold Subdivision Pine Tree Golf Club Amd Unr ACREAGE & UNREC-BOYNTC MELROSE PARK SEe 1 Area 4510 4490 4710 City Boynton Beach Boynton Beach Boynton Beach Zip 33436 - 4908 33436 33437 - 2707 Tax ID 00424525030000220 00434507000003030 00424518010001010 Sub Type L1v SqFt/Tot Style SINGLE FA AGRICUl n SINGLE FA Depth 175 307 Frontage 118 140 Front Exp N S S Lot Description 1/2 . L T 1 AC f TO L T 2 AC 1/2 - LT 1 A Miscellaneous ,........ Plan SUBURBAN Waterfront Y /N Y N N Waterfront Lake None Location SUBDIVISION, GOLF AG RES SUBDIVISION COURSE Improvements CLEARED, FILLED NURSERY CLEARED Road PRIVATE PRIVATE/ LEGAL ACC RD/ PUBLIC, PAVED PAVED Special Info EASEMENTS, GATED COMM Utll on Site PUBLIC WATER, WELL WATER/ PUBLIC WATER SEPTIC TANK ELECTRIC Usage UNIMP SING F UNIMP SING F Pending Date 05/11/05 Sale Date 06/07/2005 List Price $ 525,000 $ 199,900 $ 299/900 Sale Price $ 299/900 List Price/SF Sale Price/SF $ 0.00 SP/LP Ratio 100.00% Taxes $ 5,444 $ 793 $ 2,328 (~ .-.- Information herein deemed reliable but not guaranteed ---- Copyright: 2009 Regional MLS Inc. (Palm Beach) 05/08/09 11:23 AM http://rmlsflmlxchange.com/Pub/Get ViewEx.asp 5/8/2009 Prepared for Boynton Beach Faith Based C.D.C, '1;1.= .',SD2' J.,*~i'f~02~i8;1'~.~ilf.~e~ri iit ~1~'I'le~c.,J,Yi!lOD QO,? s. 71, ~ v,!.~.p. Oft,hi I' I' I,' Iii /. ii;hulhll . I ,Aj'.ntis,! LI,p~!m It.,~ ,,;.1/' 0 R!I\ltIAi,,~'-~':i B~.:hj <~tlk .'. _.~ . J[ II" . 'H .La. ana I'r i \44tH :~':;:SITl#t1 'f$DQ'.J:I ~t. R~. Vjl I . ::;:~ Hrr.JDEl Ct .' ~ii!\r~i~r"'~ '"u.J; I -c ," 1 ,)f I 1:,1 I,: \,' i "', 't, PAl, Mi " I li' . JE II, i , . ,. .K'"JiH- NE,ID. TH AVE Idi',.' .. I m"~~ Ii 'j' ii, II", (j.'I:'~4f'-1 I . . I .. Ir.~w 8th StbJ\ ; '..1 ,lnj}_I07!t,pmere,,;Tl~t1=~ ~~~n @20W'ilMktfJSOllC~1fl ~ooe NA\lreQ.~n.dl(lr~t!~~,d~~,;!.~rn-, I: 792\ ;I! ';. Comparable Address # Beds SF DOM list Price NE 10TH AVE 297 $099 000 Sw 8th St 791 $250,000 10714 Pine Tree Ter 184 $525,0011 000000 S 71 Av 820 $199,900 LOT 10 HINDEL Ct 0 :31 $299,900 Luzla P. Duprey. Home Run Real Estate 2918 Jog Road, Green Acres, Fl33467 Office: 561.433.38361 Cell: 561.6027622 http://rmlsfl.mlxchange.com/Pub/GetViewEx.asp Sale Price $299,900 Page \ \)1 5/8/2009 Prepared for Boynton Beach Faith Based C.D.C. General Facts About Pricing... There are certain factors that are within our control and some factors beyond our control when it comes to setting the price. Those factors within our control are: the appearance of the property, how aggressively we market the property and the price. Factors outside our control are: location of property, size and local amenities. II's important to accept those factors that are beyond our control and focus on the pricing and preparation. A property priced at market value will attract more buyers than a home priced above market value. Consider that a competitively priced property will also attract a greater number of potential buyers and increase your opportunity for a quick sale. Market Statistics... S!!!lPrice Statistics Sell Price p.!!.! Sq, Ft..S.1<!ijj!jjcs Average Price: $299,900 Average Prlce/Sq Ft: $299900.00 High Price: $299,900 High Price/Sq Ft: $299900.00 Median Price: $299,900 Median Prlce/Sq Ft: $299900.00 Low Price: $299,900 Low Prlce/Sq Ft: $299900.00 Figures are based on selling price after adju$\ments, and rouooed to the nearest $100, Summary... Analysis of the selected comparable properties suggest similar properties are selling in the price range of: $299,900 to $299,900 Recommend Price: $299,900 Luzia P. Duprey, Home Run Reat Estate 2918 Jog Road. Green Acre., Fl33487 Office: 561-433.38361 Cell: 561.602 7622 http://rmlsfl.m1xchange.corolPub/GetViewEx.asp Page I ofl 5/8/2009 ~""'.'."....'~.'....'..'."''''' ~ Prepared for Boynton Beach Faith Based C.D.C. Address: NE ~t/1 Av Status: List Price: Sale Price: Bedrooms: Square Ft: LPISqFt: SPISqFt: u NE 10TH AV,E t,( I $599,000 Sw 8th St 1Q714 pjne Tr~~ Ter I\(:T $525.000 I" $250.000 Adjustment 1 : +/. Amount: Adjustment 2: +J- Amount: Adjustment 3: +1. Amount: Adjustment 4: +1- Amount: Adjustment 5: +/- Amount: Adjustment 6: +/- Amount: Adjustment 7: +l~ Amount: Adjustment B: +1- Amount: $.250.000 $.150,000 Total: $0 $0 $.150,000 $375,000 $.250,000 $349,000 $250,000 Adjusted Ust Pro Adjusted Sale Pro Notes: Information provided Is reliable but no! guaranteed, http://l'mlsfl,mlxchange.com/Pub/GetViewEx.asp PaW'i 5/8/2009 Page 1 of 1 Prepared for Boynton Beach Faith Based C.D.C. Address: 000000 S 71 Ay, Slat us: ACT List Price: $199,900 Sale Price: Bedrooms: SqLlare Ft: LPJSqFt: .. SP/SqFI: .. ~PT 10 IjINDEL Gt SLD $299.900 $299.900 Adjustment 1: +/~ Amount: Adjustment 2: +/- Amount: Adlustment 3: +/- Amount: Adjustment 4: +/. Amount: Adjustment 6: +1- Amount: Adjustment 6: +/. Amount: Adjustment 7: +/- Amount: Adjustment 8: +t. Amount: Total: $0 Adjusted List Pro $199,900 Adjusted Sale Pro $0 $299,900 $299,900 Notes: Information provided is reliable but not guaranteed. http://rmlsfl.m1xchange.comlPub/GetViewEx.asp 5/812009 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 CIO HARPER ANDERSON, ESQUIRE 501 SEVENTH AVENUE, 7th FLOOR NEW YORK, NY 10018 AS OF JUNE 10, 2009 PREPARED BY PARRISH & EDWARDS, INC. EIN 59.2550770 J. KENNETH PARRISH, MAl, SRA STATE CERTIFIED GENERAL APPRAISER #RZ249 pARRISH & EDWARDS, INC A.g i@' O' 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 cia 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 37,543 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, 200f 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, S;":j~l._n J. 15~,/etk Parrish, MAl, SRA State Certified General Appraiser #RZ249 /' / '/ ' ~,1 '11 " /, ItlA . -t (,11'- " 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 limiting 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 requireme"nts 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, /, 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. q-/2 ~_ J~he{fi Parrish, MAl, SRA-== State Certified General Appraiser #RZ249 w~,~ 2s-~V,( State Certified Residential AZ:;ser #RD1358 ) ./ ) "<of SUBJECTlSTREET, N.E. 4tR AVENUE, LOOKING WEST ) RF09.141 PARRISH & EDWARDS, INC.. ( ( .. ( 1 ii , . 't .i, '!, . f: .d, r' ) . ~1 \,.1 ."'.~ 'J . J:,~.1,\w.\', u: ~ ". .. I . ('" ,. j" r ~ .,1~:J:'~~h.c ,l.t' i"r r\' . q...&~ 't .. ~ f l.':",,",.\'; 1 j . ,'o,j :~. l/': ~ .- ft.} ~'~~ .f. .,' . ~ ''f iYl\'I'~. ~ .. ~~ .11.i~:. l~i ... I J(lftf.~" Ii . 1 .., 17 I" . i~.'f:~ ..... ,I JI", '!j" IX .4 '~;,\ ?" .1 lij"l! , , t'.., \ I . . ~I~i /.~ j.Vc:)'~ 1 ! . ~..)' \'~ t';, I... f ! " r '~I 1 ,I I' rr ~' '. , ,,"'; 11011111011 >311. ,.:,,' [, ~~ yo'.\', ' [~:' " I .- rT, .. i ~ '" T . .' ',l,W,;'lJ'.I.\',. I,: '/ . t, '.1'1.'" i[~f.\'I" J to ~ 11,1 ~ . <~ ~..'" ;';:"'(.~~li;'I\', " '1'. , 'lW','(J i :~ ,IL. I. . r .,. ,"",' \ J."\~:,t,li'.t. _ l r '.' ,\ ,l' ". ,1'.....~.;.r1..,~.!...1'~};;' l .i~-.,~lr.Jl.llii ~ ~(lt,1.~~~~ . Jj.n;'lI:'.t:). .,' AERIAL PHOTO The Evergl8des J~.~ 1 09-141 SUBJECT AREA MAP ~.\_~L, I ,.. .--- - ',' 809A' - .,~809 710 - .. 3 , I ---;704,'--, .- - Roya' P-.lm BNo 1 441 "'8821 It, ,..~~~ \ ,.' P A 1: I \ II FLO'\~ID t~r12JS:~' A F. ann Park .441 ArtlltH,'~ ,R....M .11..(J all Lox,,",~6lfH'N. .It Parks nd Rec B o ml 2 4 6 l!l 10 12 CopyrighlC 19aa.2005 MltrotoII Cotp. .ndlorh.luppli...., All righl. r,IM'8d, htIp1iw'owt,mlero.oI\.comItlraatll C 2004 NAVTEQ. All righl. r.ltrvtd, 'ThIs data lneludellllform.tlOn Iak.n oMIh parmlulon from Can.dian tulhOfiU.. C H.r MaI"ly 111. Qu..n In RIghi or C.n'd.. C Copyright 2004 by TeleAU.s NoM AmtrlCt, lnc, All lithts ".arvad, 4 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. REAL ESTATE APPRAISED: Propertv 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, within the City of Boynton Beach, Florida. Leaal Descriotion: 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 10, 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 OR 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 currently be under contract nor is It listed for sale. ESTIMATED EXPOSURE / MARKETING TIME: Based on discussions with local real estate brokers. an exposure/marketing time of 12 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, lNe; 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 date 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 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. 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 ofThrift 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. 8 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 considered to be similar. The intended use of this appraisal is to provide an opinion of the Market Value of the Subject Property to selVe 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~ ~ 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 Sroward County, and on the north by Martin County. The geographic center of the county is +/-67 miles north of Miami and +/- 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 ;n 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 schools, 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-Ieaming 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, INC. 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 o :; 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100.000 [J2006 [J 2007 .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, INC: 12 SUBMARKET 2006 2007 %of 2012 (Censusl Estimate Estimate Change Prolection 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 6.19% 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 0.11% 1,645 Highland Bch 4,157 4,110 -1.13% 4,359 Hypoluxo 2,463 2,679 8.80% 3,158 Juno Sch 3,637 3,551 -2.37% 3,761 Jupiter 50,028 47,562 -4.93% 52,387 Jupiter Inlet Col. 371 467 25.88% 540 Lake Ciarke 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 Mangonia 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 Sch. 107,617 95,617 -11.15% 104,716 UnlncorDorated 558.284 627,120 12.33% 649,880 Coun'tv Total 1,287,987 1,323,572 2.76% 1,456,007 Source: Palm Beach County Business Development Board RF09-141 PARRISH & EDWARDS, INC. 1.3 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 Delray Beach, and the other at St. Mary's Medical Center in West Palm Beach. Two of the County's largest hospitals - Good Samaritan and 81. Mary's Medical Centers - merged, becoming Tenet South 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 $2.29B $1.75B $0.878 $0.41 B Valu-CommlOther ' $1.08B $1.39B $0.84B $0.40B $0.58B Valu-Total' $3.778 $3.68B $2.59B $1.278 $1.02B 'includes repairs/additions B = 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, RFO!M41 PARRISH & EDWARDS, IHe: 14 Tourism Palm Beach 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: EmDlover 11 EmDlover 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 Produce 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 Boca 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 VA 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. 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-growt!', 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 I I Oml 0.5 1 1.5 Jopyrighl C> 19S8-2005 Microsoft COfp. ancllor Its suppliers. N1 rIohls ,.s_d. hllp:l/www.mlcrosoft.comlwaa... C> 2004 NAVTEa. All right. reserved. This da~ Includes Ioformalfon taken willi ~rml..lon f,om Canadian eullloriUes C Her Majesty tha auaan In Right of Canada. C Copyright 2004 by ral,A1I.. North Amarlca. Inc. All rlghls ""Md. . 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 De/ray 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 coastal 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 businesses 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 International 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 (NW. 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 (CONTrO) The 2008 daily traffic counts along nearby major roadways are as follows: Intersection Traffic Count Boynton Beach Blvd. between 1-95 and Federal Highway Federal Highway, Boynton Beach Blvd to Gateway Blvd: Seacrest Blvd, Boynton Beach Blvd to Gateway Blvd: 16,253 19,559 15,071 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 (CONT'D) Quantum 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 known for its industrial development. However, Quantum Park has amended its D'RI 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 eRA 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 eRA, 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 $165,282 331 May 07 to 08 $201,848 -18.12% PALM BEACH COUNTY RESIDENTIAL STATISTICS TYPE SFR MEDIAN /I OF SALES SALE DATE SALE PRICE % CHANGE 1022 Dec-08 $238,000 933 Dec-07 $292,841 -18.73% 709 Noy-08 $245,000 845 Noy-07 $305,000 -19.67% 368 Dec-08 $140,000 460 Dec-07 $170,000 -17.65% 303 Noy-08 $125,000 493 NoY-07 $190,000 -34.21% CONDOS 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 eRA conducts a substantial amount of redevelopment activity, with new dwellings delivered. RF09-141 PARRISH & EDWARDS, INC, Tho Heart of Boynton Redevolopment Meater Plan 1_ (A) ParoDI Map . 1M 'lIl ,____ - .. I WI ""I . .~ ,:,' , CI'IA,~(ltW'hl~"~ $"'1"'" ~1lII'QII , nrll. ' '!tit. " , 1,.lIC" ,\ Ill' ""IIJI"~' .......... hpl........... flgura2 "I~.-' ' ./, " 1..1 q"JI. ';' Strateglo Planning Group. Inc. \', iiJ " , .(',- 'YJ , Page 6 ..~:J:'(J( .. . ~RE: ) ~i~f ~ :) 23 SITE DATA Size and Shape: The Subject 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 NE 4th Avenue, with 300 feet of depth and approximately 50 feet of width along the south side of NE 51h Avenue and approximately 150 feet of depth. Access and Visibility: The Subject site has access available from NE 4th Avenue on the west side from Seacrest Boulevard and from 1$1 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. 1$1 Street is a two lane neighborhood road. Overall, access to the Subject Property is considered average. Topography: The overall elevation of the Subject site is at or slightly above road grade. Storm drains are located along the roadway. Drainage appears to be adequate. Public Utilities: The Subject is serviced by the City of Boynton Beach for Public water, sewer, police and fire. Electric service is provided by Florida Power and Light, and communication services are provided by private contractors. Easements and Encroachments: Based on an on-site inspection, there were no adverse easements or encroachments noted that would adversely affect the value or marketability of the Subject Property. RF09.141 PARRISH & EDWARDS, INC. The Heart of Boynton Redevelopment Master Plan '} ... , ) .... l~'t IluVn,W.lnnlfUf. ftuVuUII." III:" M. Ilfllln'W 'I.,~. bI..r M. IItIVtlIlII."'ltJltuM. 0...", It,.. h"fII"'" _I...... Ct ",,,,b1 o.'."rCtllllllfl\ll ....,"0;'''''.. h.lllt lit ""Un Qmll (1) Z_ Map o 1M M . . ,,-. k"" .wt.II.'.I.~' RI1...'" ",""'I....flMMl "gura 8 Strateglo Planning Group, Ino. 1 (800) 2i3.PLAN Page 17 ~) 24 SITE DATA (CONT'D) Zoning/Land Use: The Subject site is currently zoned "R2", 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 force 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. Concurrency: In 1985, the Florida Legislature enacted the Local Government Comprehensive Planning and Land Development Regional Act (Chapter 163, Part II, Florida Statutes), commonly referred to as the "Growth Management Act". Pursuant to Section 163.3177 (10) (h), F.S., "it is the intent of the Legislature that public facilities and services needed to support development shall be available concurrent with the impacts of such development." From this statement, the term, the term "concurrency" was derived, and is commonly used to refer to the above legislation and its requirements. The basis of the concurrency concept is Rule 9J- 5.0055 of the Florida Administrative Code, which states that: To ensure that facilities and services needed to support development are available concurrent with the impacts of such development, a local government must adopt a concurrency management system. Prior to the issuance of a development order or permit, the system must ensure that the adopted level of service standards required for roads, potable water, sanitary sewer, solid waste, drainage, parks and recreation, and mass transit will be met. The Subject meets all concurrency requirements. RF09-141 PARRISH & EDWARDS, INC. . '"' '"' , ~ ".'1 r . \ ~ ~ .; \ ", \ 'i.\ ~ ~. '.( . 1 'to ~, K, !.Ie o ' t.~'. ~ 'i ~~ ~ .'1; t ... ... \ \ t I " \ t \ . \ . , ...~ .,l .,\ 1\ ...t. it; ~\. .\t1~ _ ' ~-;, ~tW ~"i \ \\\\\~ 'IS " _ . ,~,\ t. .1! ~.~ \.' \ \W~ c$l ..., \ {\i\l '5~ -; . ~ 11\."\ .\~ ..... '. ' ~l(t\~ \ tf. \.~\\\.\ u-lV .' ./ t "l\~ t ' l'~ " . ~.tH; ,.' ,\~,".' _.~.,. . ~ . \)\ Ih1' ME 9 25 SITE DATA (CONT'D) Flood Zone: The Subject Properly 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 yea rs. 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 Terminoloay as follows (abbreviated): ---1 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, I appropriately supported, financially feasible, and which results in the I highest land value. I I ~--~__~.__,.__ .____._.~_J 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 "R2 " , Medium Density Residential, by the City of Boynton Beach. This district is a residential district. Single family homes have minimum site areas of4,500 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 force 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. 27 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 CRA, 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 CRA or to land bank the site for future development based on proposals from the CRA 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 value 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 Appraisal Terminoloav. 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 infonnat/on for analysis. RF09-141 PARRISH & EDWARDS, INC. \ I 09-141 COMPARABLE SALES MAP d 1 ( 30 , , I (~.l 1 I, ~) J , '. I Lak I , I " \ t. \ I "6 cr n:: I ''II . ,. '/'") , . 'V~ , , '." " - LO- DA \, I( 11 PI " .' ,"t . .,. ) ,<.~ , ( f { 1. I II f' ,. . ,~ I "t' "(\ .' J' J4'~l.. ,f f .J , I ~ P \ Ii "i, .tr. .1 )' , ' \: · I ;-1,. '\.,; } .' , . . . ". 1 )! Oml 1 2 3 Copyr1Qhl C 19S5-200$l.ictoson Corp. .nCSlO( ns suppliers. No ~hl. reserved. hllp:1Iv.WN.mleroson.comlstr..tsl 02004' NAVTEQ. No rlghls reSlMld. This data Includes InformatIOn lak.n with permisSion f(O(O Cenedlen .ulhoriUes C Her Majesty the Queon In RIght of Conada. C Copyrlghl2O<M by TeleAtlas North Amorlca, Inc. All rig/llS r"_d. . , J! VACANT LAND SALES SUMMARY CHART Book I Sa... _F Zoning/ Sol. D." .... Location ...... SID of \And "'" "",.... Land Use Plan Comments VertflcatlOtl Prtc:elUnlt 1 JtiI-08 22789 EIght lots, 8pproxlmatefy 50 x 100 eeeh $A8ll.ooo .45,664 SF $10.51 W...... R'A EIght lob purchased In 8 bulk transaetIon. All lots were platted. The 1564 located within the Boynton Hills subdMslon 1.05 Ac. $60,000 sewer SIngleF..._ buyetlbul\der Is tADIdIng single farnUy homes. wh\d'l are aemng In the range of 09-141 on 2nd Street and 2nd CCw't. In Boynton on8~hs """"ton ..- $225,000 to $240,000. The pLIl'd\SSe prictl equates to S60,OOO per site. ....... 1 dwelling pM'slte 2 N1A cumont A vacant pateel IO<:2Ited. on N.E. 11th $61,000 1,542 SF $8." w_. R2 A vacant residentIal site which Is cleared. wllh sod. Per the broker, thefe has U.... Avenue ea$t of Seacresf. Blvd.. Boynton 0.17 Ac. $67,000 Sewer _I been little aettvlly. The property Is 00 the market for estate settlement 09-141 a_ on1 """ _aaach _. 9.68 unltsperact& , Jan-O& 21395 FOIX vacanl mntlguous parcels to be ~ $175,000 34.500 SF $5.07 W...... R2 Four VIIC8rlt shes ~ by HabItat for Humanity who will develoP with 1307 deWfoped wtth :sItlg:Je family homeS. The 0.79 AC $43,750 -- Residential residences When eligible people are located. The shes are c1e~. 1>>-141 pu'Chase was a bUtk sala to 8 non profit. 01'1 4 units BoyntooBeach 1'hl!Isltelsacornerwtth1rontageonboth 9.68 unIts per acre N.E. 11th Avenue and R8IJrOad Avenue:. BoYnton Beach. 4 Juo..06 22m A vacant site ~ or. ,add $tree\, east $1.380,000 223.463 SF $8.'18 Water & RM A rectangular shaped site that was heavily wooded at the time of sale. The '565 of Military Trail and north of We Worth 5.13 AC $30,667 Sewer Multi Family Residential site had approvals for 45 townhoUse lI'llts. The sale was 1hru a b8nkf'Uptcy 06-206 Road In at! unlneorporated area Of Lake onas..... by Palm Beach County court, however per 1M broker. ihe sale was GDrtSl.deted to be at or near WMh. rnarl<et. Subject Ja...7 2'976 XX N.E. 4th Avenue In Boynton Beach. The $470,000 37,543 $1252 Water & R2 1hl!l Subject Is 8 vacant side Joeatea within the Heart of Boynton CommunIty 117' Subject Is located on the north $Ide 01 N.!:. 0.86 Ac. $.58,150 ...... 9-.6& Unit, per Acto redovelopment plan. The ,lto Is vacant with somo ve.getalIon. 4th Avenue. east of Seacrest Blvd. west of on 8 unJts BoyntonBe8Cl\ Jun-<l5 18771 1st Street, 2 bIocM nottt'I or BoynIon Beach $200,000 $5.:\3 965 a.... '$25,000 on6""" 09-141 SALES COMPARISON ANALYSIS The Subject 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 1st 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. 1't 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. LOCA TIONfEXPOSURE 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. 32 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 square 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 calls for 9.68 dwelling units per acre. Sale #1 is zoned RiA which permits single family dwellings, which is similar to the Subject, considering the total number of units which could be built is similar. Com parables #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 rated 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 f PHYSICAL TOTAL ADJ. SALE # $ISF FINANCING CONDo $/SF LOCATION SIZE UTILITIES DENSITY CHARACT. ADJ. $/SF 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 $29,977 t- -_..~-- -'--~'-'-""- --.- _'_--"'---~----~-"--'--' $7.66 $6.84 Adjusted Mean $6.93 $50,354 $45,314 $45,454 i .-.......--- - ---- ._.__._-~..._,--_....- .-.-.. --...-- '_0'_" 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 Sales 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 INDICATED 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 InitIatIves 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+/-acre site located on N.E. 4lh Avenue, Boynton Beach, FlorIda peN #08-43-45-21-29-003-0020 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 10 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. \jC\.\\\\ 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 casts of collec\ion 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 UmitJng 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 INITIATIVES SUPPORT CORPORATION The Employer .::.r~ z 2Ct? ( Oate/ ~ -FJ ,/ Bv: ~ ~ I "'RPER AUBtRSQN, E8IYIRE: ~ Um V,. .Ildent & C_..lN Parrish & Edwards, Inc. The Appraiser Date Bv: J. Kenneth Parrish, MAl, SRA State Certified General Appraiser #RZ249 The Heart of Boynton Redevelopment Master Plan " ') ..... ~t...t.fI! ......'....rlluWdll t.uurMfr ~e1 II Mt~.. ...... ........ -~ .....UNlMnI . .....UlfllY _ ...1b1 tal Pr_d lalli USB M_ . .... ..1IrI'.c...I, ............. IIIIIMI_Rd. .. III .....'''1 nggrl 18 StrategIc Planning Group, Inc. 1 (800) 213.PLAN Page 53 ) ASSUMPTIONS AND LIMITING CONDITIONS 1. 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 be 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 Instltute or the MAIISRAlSRPA 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 appraisal 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 or less valuable. The Appraiser 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 doliar 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'D) 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 CERTIFIED 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 eOUCA nON Florida Atlantic University: BA 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 #IA - 2, March 1986 American Institute Course #IB - A, September 1986 American Institute Course #18 - 8, 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 Appraisallnslitute 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 (Cont'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) SupervisorfTrainee Roles and Rules (April 2008) 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. EDUCATION Graduate, University of Florida, BA 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. (CONI' 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 IRle No. 290366.0001 Pace #11 SUMMARY APPRAISAL REPORT BASED ON HIGHEST AND BEST USE OF THE SITE ) APPRAISAL OF TWO VACANT PARCELS ) LOCATED AT: NE 4th Avenue SHEPARD ADDITION LOT 2 BLOCK 3 AND NE 1/4 OF LOT 3 BLOCK 3 Boynton Beach, Florida 33435 FOR: Boynton Beach Community Redevelopment Agency Vivian Brooks, Assistant Director 915 South Federal Highway, Boynton Beach, FL 33435 AS OF: August 9, 2009 BY: ANDERSON & CARR, INC. 521 South Olive Avenue West Palm Beach, Florida 33401 561-833-1661 561-833-0234 - FAX ~ Fonn GA5 - 'TOTAL for Windows' appraisal software by a la mode, inc. -1-800-ALAMODE --- ---- ROBERT B. BANTING, tvlAI "RA, PRlo,iIDEN'1 State re,line,IGenel'~1 Reol o..,'ale Appmj"er Rl4 FRMJ:: J CARDU, MAl, VlCE PRESlDENT State-CCl1ifled l;~llN"1 Re~1 ESlate Arpmjser Rll ]90 Nll/()I:~()/lll & c.u2~. I/lllC (({(((((({(( ((((((((\{<<((((<{ (({<<< (((((U(({ ((((<((((( (\(('((( (((( (((((I (((( .4ppraisers . R ealtors ~:'>>>>>>>>>>),>>>>))))))'j> ,))>>) ,j>~) ';})J )>l))})})>>>>n>)) )) >))> >))})) M) 52J SOUTH OLIVE AVENUE WEST PALM BEACll, FLORlDA 1140\-5'107 IVwwanderSOl1carr.cOl)] Telephone (561)833-1661 Fax.{5611833.0234 August 11,200(1 ,.-J..ua/dr cSC'rvlce &mrc:. 1947 Vivian Brooks, Assistant Director Boynton Beach Community Redevelopment Agency 9 t5 South Federal Highway Boynton Beach, Florida 33435 Re: Two Vacant Parcels NE 4TH Av~nue Boynton Beach, Florida 33435 Our File No. 290366.000 Dear Ms. Brooks: At your request, we have appraised the above referenced property. The purpose of this appraisal was to estimate the market value of the fee simple estate of the subject property, as of August 9, 2009, the date of inspection. The intended use of this report is for possible acquisition purposes. The subject parcels are currently zoned, R2, Multi-Family Residential with a corresponding Multi.Family Land Use Designation by the City of Boynton Beach. The parcels are located in the Heart of Boynton Beach, a re.development area under the guidance of the Boynton Beach Community Redevelopment Agency. According to the Master Plan for the Heart of Boynton Beach the subject parcels are destined to have thelr zoning changed to CBD, Central Business District with a corresponding land use of MX Light. The parcel identification numbers for the two subject parcels are 08.43.45-21.29-003-0020 and 08. 43.45.21.29.003.0032. As a result of our analysis, we have developed an opinion that the market value (as defined in the report), subject to the definitions. certifications, and limiting conditions set forth in the attached report, as of August 9, 2009 was: THREE HUNDRED THOUSAND DOLLARS ($300,000) The following pres~nts a complete appraisal in a summary report. This letter must remain attached to the report in order for the value opinion set forth to be considered valid. Your attention is directed to the Assumptions and Limiting Conditions that follow. Respectfully submitted, ~~~~~ Rohert B. Banting, MAf, SRA St~QI~~d ;T)Rea\ ~t:ppraiser #RZ4 Michelle J Jackson t State Certified General Real Estate Appraiser #RZ331b RBB/MJJ LAND APPRAISAL REPORT 'ii~ 1.,1) i'''I' rllef'JiJ290:'6G.OOJ ~mpl'JYfr!ti:t .;liiUlllli :::0nVm,}erlr.~ )", m~JviJ;-,el; ; l'I'I"e~ience II, Shlll!pln1j ~ L;UflV8Ti1enC" 10 St: 1'001;:, I ArlequaL y ct Public t. r:inSn!l!1~~1( If ' 5':' r.-::'li1l\R IIJI Kr:Creatl(}n~1 F~I:I!ltlf II\tleQU~CY Gf Uillitie' f)IUpf.rtyGltrripatillifii, PilJ!ectinnfromDf-lllTJlent~JGmldlti(lni I i-'DIIi;8 ~OII fire p"Jlectiu/1 Genelal Appear~n~~ i',II'wpeltle,< A;'JpealtuIVldr}:"j '-~- ~~^'-_____"_J I Gomments incluDing !hose factoL';. favo..'.dL\18.ur unbvorciule, <l..il8C" ny Illdlk8ld.bility 18,g plildl~ p<lrk~ '.iChOOb, '/le'{J IlrHSel_~&ctproperty cons.". ~ o.ftw.!"E.!: rC/7..ls 011. .j' the north side of NE 4th Avonu& 9~t5)f N, Sea\?rl;~t E:}!lo'd:.l!:!~~1l ~!achJ FIl:1rid~, They are withIn the boundaries of ths Heart ot~~f)l]_ Redevela ment Master Plan. T~e sublect~rcels .a~ c.!!!:re~ Vacant. Tl!is~!l transitiol)511 fT~ighlwrhOQtj as the eRA 01 Bl:!Ynt~_Beach has 'plan~ to ae uire then ro rtI9$ and rezone them allowin for re laUin and reaevelo mant. See General Text Addendum. Dimensions 1S11.2S~9.97'X1llll.12,:,x!.!!9.115'X5n.o6'x149~fa(Ma~In'.!_ 3L-~43$F Sq,Ft otAcre, --: "nrr'~rl()t I Zoning classification _R.2 - Multl-Familv Residential Qistrict ICurrentZoninql i're~~l1t Imp!uvements --. (Iu rtll rim CUnillf'T'. ,., Z,l()!il~~ If'I}li,~h:" ! Highest an~ best use I Present lJSP, ,Y, Other l~e~! Proposed l.and Use Plan indicates MeQR _ !YIedi'!'!!!lJ?en!>ity ~~sil:l!>ntial -1.Q DUIAcre ! Puillic D!her (Descri\-81' OFF ~ITE IMPROVEMENTS ' 1 Opl! ~v~1 with street Qrad~ Emf,' 0:,' At road front. Str~etAcc~s; Plllilic i Prl'l"ll' ,Sll~ lY'plca'iQLI!~igl!borf1ood Gas I J!i2~ iSurtac~ ~h.!'Jt 'i-;hapA~erJ!!!g~ Water zJ At road front. I Maintenance Publi~ i Pn'ldtp ,'ii~i1 F-gsldentlal San,SBwer g?J At road front,__ I ~Storrnb)ewer ~_~':;Iif/JIG(ltl~; ,!)rainag!!~~~de:~,~ _ " I I j Underground Elect. & Tfll.:LJSid€_\I!.1tk I :J Street Llghh lis the property located in a Hue Idenl11led Special Flood Hazard Are~? I", flo I I yes' Comments (favorilble ~r 1I11fdVQfijllle Illclu<Jing oilY afJlliIT~nl adverse fJSements, f;ncroachment., [\1 .lther ,\dvers~ cOl1diliGnol ~one, note;d. althouqh an Etlvlr~m~~_h_'!.!..e I . 5urve was not o,dered or '&viewed by: this .!I!Hraiser and IS beyond the "copa of this alisi!mmiQonL Th~ subject property Is currentlv..in all ar~of ! re-develo moot The Pro oBed Land Use Plan has designated this area for Mixed Use light and a future zoning of C~Centr!lL8usi.ness DIsu!ct j accordin to the master Ian. The sub ect areels have no 'ronta e on a ma or roadwa in this CB Oistrlct but Bre mated on a .seconda toadwa I The undersigned has recited three recent sales of prop~rties mugl similar and ptoximat~ I~ slJbl~ct ~mi has considered these in Ih~ rmrke! anaJy,is, The UfScTilllion includes;; dur adjustment f~Uectlng market reaction to lnosp, Ilem~ of slQnilic~nl {arlatwn between th~ SlllJjecl i!nd comparwl€ IlrOfJertie" I, ;i oignrfic~nt item in the camparabl8 projJ~rtv i, sUp~rl to Of more favofdole tllaCl the sul:iject pr~ri)', ,) mlJJUs 1-,1 adjustment is m~rle thus redurinq the Indicated valup, fJf ;;ubiect I' , sin~ific;,nt item '" t~le cnmpiH"~dr 'r,tprill I, nr ,pc lavorablelhalllhesubjeclllfOllerty, a plus 1+1 iH.ljustment is maoethlJs increaSingtlie indicated v;lllle of the ,ulile~t _ ~M _ SUBJ~CLPRD}lERTY Q9MPAR~LE1iO I CQIv1PAB~BliNQ. _CQMPI\RA~lE I{O.:~ Address HE 4th Avenue Nf: 9th Avenue NW 9th Avenue Marlin Luther I<inq Baulev1'lrd Bo nton Beach ~r11on Beach l!~J.Qn BeaCh SJ~~E.1l_~ach Proxim. 10 fui.!!.@ct "~-"_--'-- 0.31 miles 0'.31 0.38 miles Sales Price prJce Per SF wi' 12.03 ..~::";,,\ r $_ 9.83 Price Sales Price_ _~l!les Price ;~,,.. 69,150 ;. 6~0 -"",~ ',il;~;f:?:,:i:'~.~; -... $ _60,Q90 Data Source Public R~cotds, File~ Public Recon:ls."Win20ata, AttJ!i, public Racords,VYI1l20ata_LA~. Public Records,Win2Data, Deed Dale of Sale afld ____D~CHlPTIO_N - ---[iESCB.IPTIQ~ ~-L, '1~Ai;!liJ,t DE~CRiPT!ON :-"l l$AJii!Lsl -.~-DESGR1PlfllN----'-'--i$Ad.jJ2i11 Tj.m~.!:djllstm8nt. N/A M1~~ 50 OS/2009 .36 02@O? 101: Loc,ol!on Interior l.ot !!!!erioL L~t Interior .Lo~ I~terior ~J_ Site iew Residential R.e~denti~!_ Rei!iide!!![al R.eshlential Tracl Si,ze/Slte Utmty 3~~+I-i~v~r.~. 5,7?UE~{-1!tver.!l~ -2.40 ~46 SF +!-1Ave,age 2c~O 6,096 SF, +J-I!,ver_~_g!)__~ Zonin C!m. !f.!:()~,~~ R3 P~~o.sedJ 1YlEr.9~o!:>edl R3 (ProP_,?sBd) 1m rovements Vacant Ya~_,mt_ VilC~~! Vacal)L OR Boo~e_ 21g7aL17~1 _2323M:t7~~ :224~l!3 Sales or Fin&rJcinl] NJA Cash To Seller Cash to Sell".. ConcesSions None K~l)~.U NelAd'. otgJl 2.7~ ~li "'-"- ~~V~ue 1" ofSubjecl 9.27 Comments on Mor~el Da1a' AU th~e sales and three 1.1s:l1ngs usftd In this reDort are located wl!!,ln of the H~rt of Bgynton R.ede~ment !lounda~s. No we! fit was ,gLven to the c!lmmt l!stJ~9S i_r:' the fini,ll ~!!:l,ly_~s. lyptc:al homes in th!~U!!io;lct neighbo.!:ho9.d are semngJr~ _$3Q-,-000. un to S235LOOO. See Attached Sal$s Summary. Commenls ~nd Conditions of Appraisal: T~_summary <IJ!2!~IS~~~ ti.!ltt there ~~ronmenta~oble!"S'p'r ~_~~l1~rftiO))S witJ:l. th~~4~ec:t s11e. A soli study was no.!...2!ovlo:!~.TJ1~i:!i~ lSSl!!~entl~can! ,!,n~~!!..!3omewhaEeve-'. Tl!.e h'ghes~ a!l_d ~~t_!!s.li1_of t~site is for l~d b~llki!!g until sueh tlm~~ o;lconomlc conditionS imp.'2ve__an~Lwi!.L~up~ortre:geveIQl?ffi~' w;m"1!!..l!!tH_l!-IJl!!V~.!~d~nJial com~nent~ as nr'wided !lnd\!r thf> ro o.sedzoninq lIndlan<:Lusedesi9..!:@.!ions. Final Reconcilialion _~I!!!!ree sale~~e ~~ considHatiE!!J.n the final an~.is. Based on the ma!ke~ sales.<!lJ)~LC~ pe!s.9~ar~ k,ot Intated ill the miudle E! t!!!' adiusted p~iciL.s~!e is jndiGat~d for the s~bi'.lfJ1Q~as_ g_f i\~gui:!t 9,_2009 of_$8/~F Borrower Bovnton BeaCh <:;gmmunity Rede-"",J~P!ll~~t Ay_cncy Property Address HE 'tth ~e~~ City Boynton Beach :;Uilrty F'all1) Be~ch Le9al Descriptioo SHEPA!W ADDtTlO~ LQT Ul_l.Q9\.~.A!!D ~E 1/4 OF LOT 3 (3L99K:\ Saie Pn~p. $ Price per SF Il~tp. nI :;~Ip. N/A l.Ud'! Term Nf~ A~t\lal RBJI Eslate Taxe~ S m!-_ 1,'li L',~'I cfnlge, ~J rl~ ijctlch Fii,'! Lender/Ciirnt ~'?Y~t1~each CQm~un~ty ~deve~~'!tAg~ncy O~cupan( NfA /\ppr~i.'ier -.Mj~ellE- J. }ack2on CRA of So nton Beach, Florlda_ peN #'s 08-43-45.21-29-003-0020 & 0032. locafirm . IJrbar ,~,llbllrh~n I F:wai Built lip "'\";1, "1",;;11', Growth Ralo I i'uilyUe'l f{,l'I'l ",[II'.' Property ValuR~ ;11Clo.iSII.lj ,f.!.IJ: Dem~nd/Supply ;llllri~q": in !jOji~n(;~ Marketing nino "'1,),:I:j M~6 : Ii Mn. Pres~n, I iind U,A 20% 1 rarhily 20'~ L"~ f:1milv 1_Q% A~j.; ;:, GUfI(',iJ % InrltJ:;lriai ~,V~lCa:11 35~; CllurcI1/Schooll~!!!:k ChanQf. in Presefl\ L~nd us~ ' l'hI I \1101\' i I i~"I'i I~I ---.-- / ia~lng r'::1C~;, ': [('Jill f!1.!llti:f.!lmUy Res. h l'I1edl,:!'T' .lJell~Lty R,,:!s. 'lrlfT ! TI~n~'li l',IGdnl "',ii' II',,' 61.00 i1hr r],~t~r~l\:'~ "fOe '1:,'( Fl ;1' :-\,,-!,; 33~3 ;-'!OJ'JertJ'Rial1t.<;/ippriJisc,j NIA :'III1PJ 'dI8, c~nr...,silmo _NIA I'j" 'S 1:!_~ SOll.t~e~!lral !::!i9~~ ~ntonB9ilch, FL ?343~ ;''1,:t'l)I1' III ^,ppr;li,~r Land.For.!!l.b.p"p!ai!?-_~1 for 'possil!~acqliisjtion by t~~ , : iR~ iR"Sfl,,;1 ~ ~~ I'."i' d' nic "I in ....--T'--'..".-----"----.~-~\'J hir 1':Jr)[ 'r'"ju1 'cdIWI! I ii"I!oiljJ[IIV 'r h ~'in.; Predommal110Ccupallq Single Family Price HallQo SingleramilyA')A 39,OQO I to$~5,{)90 :'/,'/11 57 1-,,~rJDmin~nl V~II!? ~ 5f!..~9_ "1"dllrrinimtAGI 53 'Irs i ,.,,/ I , , 1 t 2,8_8:). , ~AlE !i~ARKETtALul, AS fFINEI), OF SUBJECT PROPERTY AS OF )UUf'l! . ( f(il' J'?)" ST tf: CERT. GE(REAr;;RZ331, ' Mithelle J. Jatks\?" Apprai5ers 1Y21<1 Au ust9 2009 :e'I>'" 30U.00u --- --=--= ==?- 1'~I"i j-liltN'JII', "1,'[\,.1' '\nl:":;ilt~ri,'r;;-,~ i'.I,' 1'1' WII1UU'N'; 101." ,~i' "I~ ,,;1,,'''1'. I',,' " li,::'I',:I:I.I; ITEM SUBJECTPROPfBJY Mdr~ss NE 4th A.venue Bo nton Beach proximi loSub.e I Sales Price Price5alesPrice ala50urce Dale of sale and Time Ad. stment Location il iew TractSizeSrteUlili lonin 1m o\lements OR Book/Pa e Sales or Financing Concessions NetM. alai Indicated Value af Sub eel Comments. See General Text ~l!.ql!-"dl.lm. 2197811TI1 NlA I.AND I\PPRIl.lSlI.t. REPORT MARKET DATIl ANALYSIS i:cK~A~:\Bir-"_. NE 1~h A\I~nue Bovnton 31MCl1 O.4Dmiles ___ ~ $ ~4A~ __ ____l_____iO~;Q(}g_ MLS R2969579) Public Records _ DEsrJiIj'IIQ&_ _I~l::~:'i ~~U~l Listi'l9 - 18-7 DQ..M_ .:t~ InteriorL~t ResidenJi~ l,751 SF +1 f~v.!!:r.~g'~ :.2)~.Q R3 Pro os~ Vaca~~ N/A_ NlA + ._l::L _~ Net 29.9% COMfARABlENO. NE 3rd Street B.2y_nton.!!~_~!L __ L.,.3~ miles -- - J$ 10.00 '__ ____'-1.L 75~_ MLS R2962811, .~~!!!lc Reco!~ DESCRIPTIC'N + - Ad'usl ~tinQ - 314_Q:OM ;..- -1.00 Q.Q~ner l,Q!._ Residel)tial -------:.--- 7,500 SJ' +J-{~erag~ -2.00 ~}(Pro'posed) ~_~.!'t NfA NIA - ~.~ C.t. .L'L -1:- - ~ Net 30.0 % 7 'HI'L~Qo?-9m66.{K\(lI, PllW_#3', Fiie No. 290386.000 .fQ_~PAR.~LENO,Ji NE 11th Street Bovnto!!-~each. 0.44 mll~s ~~~ ._~.....li_ _ji7,0t:!C? MLS R2!l6?l!Qb.fublic Records DESCRIPTION .llJ')$Adius). Ustin - 314 OOM -.88 Interlorj.ol Reeldential L..~2 SF.!'-IA.ve[age ' -1.J~ R3~ose.5!l_ yacant ~~-- NfA + ",--:$ 2.64 Net 29.7 % '.24 9.88 Anderson&Garf,!IlC farm lNO,{/l.G\ - ""[G1l\l lorWiMIlWS" ~pprajsal sofu\lale by a la mmJe, inc - )-8DD-AlAMODE Supplemental Addendum ) li~ I~(). i'90.11""' ;)1)11, f' JQP Ii \ HI~ ;~u 290366.00[,. fu1tr9~IieDt_ B~nton Beach _C~_rnu'!~ty Redevel(lPlIl~llt A9~ncy l'rollertv Mdrm _~E_':lli!_~~enue GilL B(:r~!:lton_!le~~_h 'J1'liU;Y Palm~_",ach Le~der NIA .tate Fb- L_iLL.()~f._ ~3435 INCOME APPROACH TO VALUE The Income Approach to Value IS not applicable as the typIcal purchaser IS an owner/developer who wUl,ld nut buy same as an income generating property SALES HISTORY: The subject property was last transferred by Warranty Deed in January of 2007 for a recorded price of $470,OUO as recorded in OR Book 21978, page 1771 ofthe Public Records of Palm Beach County, Florida This information does not constitute a title search SALES SUMMARY: The subject property has a proposed land use designation of MX LIght, Mixed Use Light and a proposed zoning designation of CBD, Central Business District under the Heart of Boynton Beach Redevelopment Master Plan. The subject parcels are currently vacant and have no frontage on a major roadway in the CBO The comparable sales and listings are zoned R3, Murti-Family Residential Since the subject parcels have no frontage on a major roadway, no adjustments were deemed necessary for differences in zoning All of the comparable sales and listings are within the boundaries of the Heart of Boynton Beach Redevelopment Area as designated by the Boynton Beach Community Redevelopment Agency This neighborhood is experiencing a revitalization effort Sale 1 is located on the north side of NW 9th Avenue, Just east of N, Seacrest Boulevard in Boynton Beach, Florida ThIs sale occurred in May of 2009 and sold for $69,150 indicating $11 96 per square foot of vacant land A small downward adjustment was made to thIs sale for time as the real estate market in Palm Beach County has been on a steady decline over the past few years, An amount of 1 % per month of difference was used in determining this adjustment. A downward adjustment was also made to this sale due to Its smaller Slz.e. Typically, smaller lots go for a higher price per square foot price than larger lots, This theory holds true until a point is reached where the smaller lot size negatively affects the development potential A small downward adjustment was made to Sale 1 as it is considerably smaller than the subject Sale 2 IS located on the north side of NE 9th Avenue, just east of N Seacrest Boulevard in Boynton Beach. Florida This sale occurred In May of 2009 and sold for $69.150 indicating $11_96 per square foot of vacant land A small downward adjustment was made to this sale for time as the real estate market in Palm Beach County has been on a steady decline over the past few years. An amount of 1 % per month of difference was used in determining this adjustment. A downward adjustment was also made to this sale due to Its smaller size_ Typically, smaller lots go for a higher price per square foot price than larger lots This theory holds true unW a point IS reached where the smalle lot size negatively affects the development potential A small downward adjustment was made to Sale 1 as it is considerably smaller than the subject Sale 3 is iocated on the north side of Martin Luther King Boulevard, east of N Seacrest Boulevard In Boynton Beach Florida This sale occurred in February of 2008 and sold for $60,000 indicating $B.BBper square foot of vacant land A downward adjustment was made to this sale for time as the real estate market m Palm Beach County has been on a steady decline over the past few years_ An amount of 1 % per month of difference was used In determining this adjustment A downward adjustment was also made to this sale due to ItS smaller size, Typically, smaller lots go for a higher pnce per square foot price than larger lots. This theory holds true until a point \s reached where the smaller lot size negatively affects the development potential. A small downward adjustment was made to Sale 1 as it is consJderabJy smaller than the subject Listmg 4 is an active listing on MLS It IS located on the south side of Martin Luther King Boulevard, east of N Seacrest Boulevard In Boynton Beach, Florida It has been on the open market for 287 days with no offers. This listtng appears to be overpriced This listing was adjusted downward for difference in Size, like the comparable sales, and was also adjusted downward for negotiations and length of time on market lIstIng 5 is an active listing on MLS It IS located on the northeast corner of NE 9th Avenue and NE 3rd Street, east of N Seacrest Boulevard in Boynton Beach, Florida_ It has been on the open market for 314 days WIth no offers This listing appears to be overpriced. This listing was adjusted downward for difference in size, like the comparable sales. and was also adjusted downward for negotiations and length of time on market lIsting 6 IS an active listing on MLS, It IS located on the north side of NE 9th Avenue, east of N. Seacrest Boulevard In Boynton Beach, Florida. It has been on the open market for 314 days and has had one offer The offer was -3 good one accordIng to the listing agent but the buyers financing fell through No recent activity has been seen on thiS listing. This listing appears to be overpriced, This listing was adjusted downward for difference in size, like the comparable sales, and was also adjusted downward for negotiations and length of time on market After aU adjustments, the market indIcates a range In price per square foot for the comparable sales from 56gb (Sale 3) to $9 27 (Sale 2) per square foot Considering the decltnlng real estate market in Palm Beach County and the lack of recent sales activity the middle of the range is concluded for the Sublect property at $8 (10 per square foot and is calculated as follows 37,543 SF x $8 OO/SF" $300,344 Rounded to: $300.000 ',':); I ~llj) "Tl)if'l for Window~" arlDl;)I';I! '(JftWdr~ tv d!j mlld~ ill! 1 ~III'[<JA:\'I :llr Supplemental Addendum Borrower Chent 80 "ton Beach com~ Red~veIQ2,nen,-~enc~ Pr9PJl..r:lYMoress NE 4th Avenue ji~12Ynton B&ach County Palm Beaeh lender N1A Ijte_"!.o,,-2.9"O)66.UW_t'a~e#'J FileNo 290366000 __~B:- ___~I,I_df,3~43S 2008 ASSESSED VALUE: Subject parcels are currently assessed for a total market value of $288,328 indicating a total tax liability of $5,753. IMPROVEMENTS: Subject parcels are vacai1t. CLIENT DISCLOSURE AND INTENDER USER This Summary Appraisal Report is intended for use by the Boynton Beach Community Redevelopment Agency andfor assigns, Use of this report by others is not intended by the appraiser. PURPOSE OF REPORT: The Purpose of this Summary Appraisal Report 'IS to estimate the Market Value, Fee Simple Estate of the Subject property based on its "As Is" condition as of August 9,2009. INTENDED USE/USER OF THIS REPORT: The Intended Use/User of this Summary Appraisal Report is to provide the client, the Boynton Beach Community Redevelopment Agency, with a supportable estimate of value for the subject property which can be utilized for possible acquisition purposes. SCOPE OF ASSIGNMENT: In keeping with the purpose of the appraisal and the appraisal process, the appraisers have engaged in original research to provide a complete analysis for the client. Data from analysis has been gathered from various sources, such as the Palm Beach County Public Records, First American Real Estate Solutions, county and local planning & zoning departments, local realtors, property owners, and other appraisal offices. The product of this research and analysis is formulated within this report for analysis of and direct comparison with the subject property being appraised. Additionally, we have used original research performed in preparation of other appraisals by this offIce, which is considered appropriate for the subject property. This report is a complete appraisal in a summary format. Unless otherWise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property that would make the property more or Jess valuable. The appraiser makes no guarantees or warranties, express or implied, regarding the condition of the property. ThiS summary appraisal report is not a l10me inspection and/or an environmental inspection and cannot be relied upon to disclose defects or conditions in the property The appraiser performs an inspection of visible and accessIble areas only A professional environmental inspection is recommended. 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Form MAP,PlAT - "TOTAL for Windows' appraisal software by a la mode, inc, -1-aOQ.AlAMOOE IFile No, 290366,0001 Paoe #171 Proposed Zoning Map - Heart of Boynton Redevelopment Plan Borrower/Client Bovnton Beach Communllv Redevelonment Aoencv Pronem, Address NE 4th Avenue Citv Bovnton Beach County Palm Beach State FL Zin Code 33435 lender N/A (' (- ~ I ~ 1\ ~'fl\ ~ II L.- A,...nl1" RI '" _CI! l\IIL .111' =Pu :...: II~ , .1IIIlt4. 'l'/'QI PrOIlll. ____ ( Ai I .. 1111 I S.*lIhl1 .., ...... r .At, ftltn ... PIlI II!II_.'" . fldl Ragn t7 ( ... Form MAP.PLAT - "TOTAL for Windows" appraisal software by a la mode, Ine, -1.80(}.ALAMODE Subject Photo Page Redevelo ment A enc Coun Palm Beach State FL IFile No, 290366,0001 Paoe #181 Zi Code 33435 Subject Front View NE 4th Avenue Sales Price Gross Living Area T alai Rooms Total Bedrooms Total Bathrooms location View Site Quality Age Price Per SF Interior Lot Residential HE 4th Avenue Looking East HE 4th Avenue Looking West F1mn PIC3x5.SR - 'TOTAL for Windows' appraisal software by a la mode, inc, - 1.800.ALAMOOE 'fil~}!Q. Z90366.0QQ' p~M....iI'19J 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 selieI', 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 ;1cting In what he considers his 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 ptlid by .ellers 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 propgrty 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 th.e dollar amount of any adjustment should approximate the market's reaction to the financing or cOJ1cessions based on the appraiser's Judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears In the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the tJtle to It. The appraiser assumes that the title Is good and marketable and, therefore, wJII not render any opinions about the title. The property Is appraised on the basis of It being under responllible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the Improvements and the sketch is included only to assl$t the reader of the report in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are pro"ided by the Federal Emergency Management Agency (or other data sources) and has noted in the appraisal report whether 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 Of 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. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use al'ld the Improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (SUCh as, needed repairs, depreciation, the preSence of hazardous wastes, toxic substances, etc.) observed during the inspection of the sublect property or that he or she became aware of during the nonnal research Involved in performing the appraisal. Unless otherwise stated In the appraisal report, the appraiser l1as no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or Warranties, express or implied, regarding the condition of the propertY. The appraiser will not bt'! 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, the appraisal report must not be considered as an environmental assessment ofthe property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibitlty for the accuracy of such Items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or a.lterations on the assumption that completion of the Improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and prOfessional designations, and references to any profeSSional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraiSed organizations; any state or federally approved financial institution; or any department, agency, or Instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collectiol'l or reporting service(e) without having to obtain the appraiser's prior written consent. The appraiser'S written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. Pagelof2 Fa~nie Mae Form 10048 6.93 freddieMac Form 4396-93 Anller50li & Can, lnc Form ACR DEFD ~ 'TOTAL torWindows"appraisai softWare bya la mode, inc. - HOD ALAMODE iJI' .:"if!"',, '_lUll; P~l]e #f,)' APPRAISER'S CERTIFICAtiON: The appraiser certifies and aqrees that: 1. I have researched the subject market area and have Selected a minimum of three recent sales of properties most similar and proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sale!'; price of the comparable and, if a significant item in a comparable property is Inferior to, or less favorable than the subjl:!d property, I hal/e made a positive ;:ldjustment to increase the adju!lterl $;ales oricl'> f1f the comparahlA 2. I have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believi', to the best of my knowledge, that all statements and information in the appraisal report are true and corrE'r:t. 3. I stated in the appraisal report only my own personal, unbiased, and professional analysis. :.JPlnIOllS. and conclusiofls which are subject only to the contingent and limiting condition!> specified in this form 4. I have no present or prospective interest in the property that is the subject to this report, and I have no present 01 prospective personal interest or bias with respect to the participants in the transaction. I did not base. either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, color, religion, sex, handicap. familial status, or national origin of either the prospective owners or occupants of the subject property or of the pre$ent owners or occupants of the properties in the vicinity of the subject property 5. I have no present or contemplated future interest in the subject property, and neither my current or future emplovment nor my compensation for performing this appraisal is contingent 011 the appraised value of the property 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation andlor employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation, a specifiC valuation. or the need to approvf' a specific mortgage loan 7. I performed this appraisal in confonnity 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 as of the eff~ctive date of this appraisal, with the exception of the departure provision of those Standards. which does not apply. I acknowledge that an ~stimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate 1 developed is consistent with the marketing time noted in the neiqhborhood section of this report, unless I have otherwise stated in the reconciliation section 8. I have personally inspected the interior and exterior areas of the SUbject property and the ext~rior of all properties listed as comparal11es in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market evidence to support them. 1 have also commented about the effect of the adverse condItions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. It I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report, I have named such indlvidual(s) and disclosed the specific tasks performed by them in the reconciliation section of 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 the report; therefore. if an unauthorized r;hange is made to tt'lP appraisal report, 1 will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIfiCATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the a.ppraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for th~ appraisal and the appraisal report. :~iL::~; "~~":: ....... ~~:~~~~' , ,,,"" M,;h.If.J ,,,',on ~ ~~, ~~ iJa1R Signed. ~~st 11~_ Date Signed~u!l!!~JJ1J:009 ,u,~ Certification #. ~tate Certifi!,!! General ~~I_ ~~ate ~praise.r:#RZ3316 ::;t:ji~ 1:P.ltI1IGdtJOI1 # ~~!-eS~rti~ Gell(!ral R'J::.~....Q!!iser #!1Z4 JI ~t~te LiG~nse # (II St~tl! Lil-e~l"f~ i! ,tai~_ F_,=- Stale Fl:: c\i:lration Dale ot Certilicatlon or 11~~n~p, J1f3111~910 ~{r:_'n!il)li !I:lie oj IAnificaii'.m 'II Lir,~nsF, 11/30/2Q.10 ~.'I' . i ",if,!" 1'l"PfCPII![JlII\' ',-(jOIR MaG Form 4396-<J3 ".-q:':,'1 F~nnip, :0iF' 1",wll004R !;_~C l-orlll AGR DF-ru ' fOl!\.L for WIII(h)I'I'" ,tPill~l'-;dl ',l1tl'-:I<II,' ' r,'''.ir;'I. I-Ijll!I.IJ,II\ivlCIj"!> SUPPLEMENTAL ADDENDUM 'f!Ip'_No,,--2jJ036_6.Qf]O;J'.M\!L#2:1~, FileNo 290366000 Bar ower Client Bovnton Beach Community R8de~elopment Agency P~~ddress HE 4th Avenue Ginl Bounton Beach _ _County ~?I_lm !!~l:.i'. Lerld& MfA Stale F!:.__.~QQJ:~e ~~~5 Statement of Limiting Condltlons and Appraiser's Certification IContinuedl: 11. I certify that, to the best of my knowledge and belief, the reported analysis. opinions and conclusions were developed, i!lnd this report has been prepared ii' conformity with the requirements of the code of professional ethics and the standards of professional appraisal practice of the Appraisal Institute 12. I certify that the use of this report is subject to the requirements of the Appraisallnstftute relating to review by its duly authorl:z:ed representative. 13. The appraisers have performed within the contaxt of the competency provision of the Uniform Standards of Professional App\'1llisal P\'1lIctice. 14. The use of this report is sublect to the requirements of too Appraisal Institute- ami the State of Florida DivIsion ot Real Estate, Florida Real Estate Board, relating to review by their duly authorl:z:ed representlltives. 15, This appraisal report has been prepared for the exch,Jslve benefit of the client. It may not be used or relied upon by any other party. Ally party who uses or relies upon any information in this report, without the preparer's written consent, does so at this own risk. If this report Is placed in the hands of anyone but the client, client shail make such party aware of ail the Assumptions and limiting Condltfons of this assignment. 16. As of the date of thIs r"port, Robert B. Banting, MAl, SRA has completed the requirements of the continuing education program of the Appraisal Institute. 17. ACCEPTANCE OF, ANO/OR USE OF THiS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEOING CONDITIONS. Fmm SLIP - "TOTAL 1m Wil1dow~" <W\'lr~isal softVl~re by illil moue, me -1 BDD AlAMOOE !~ I'Ju ~8(: J(,l', i OiJ IJ:lg~ ffL Qualificationi 5ollil.wer/ClieQt~ntol! Bea!>h C~l!!mu.!!Lty Re~y~loE-~ent Agency pCQ1.erttl\!!dress N~th~,,!ln!l~ ,:iiy ~o~n Beach (;uunty Pa!m B~a."h l,~"de' NIA ___.____~ ~_ .", rL ",[,IJoJI: 33436 QUAUFJCATION:S UF ft-_..PIt'P..;-\~S~';- l{OBER'T R, RAN'nNC, M &.1- S'" ~ ?ROFEliSIONALDF.SIGNAT10NS 't EMRECl'1 Vj;..',' MAl. Member Appra;sallnstituLe -1984 SRA Senior Residential Appraiser, Appra'~"i ln~\Il!ltlC SRp:,. S~l\i(lf Real Propt'rty Appfai"~" Appr;llSJllns(,IUlt 1%11 ';t.m..('ertit'ilCd GLncral RCi11 EstRlc.-\prrniSl'r Sl:l["'lif'l"j,',-, i,<'IL'< i,,'j EDUCATIUN AND SPECIAL TRAINING Lkens.ed Real Estate Broker - #374-8 - Slate ul Florida Gradu>l\e, University of Fl\,Jida, a:.lIege of Business Admullolrd"O~, I:ISI:IA (M<<jQr lZ~,~ blmc 6;. I!, ;'''11 Ull\U StlJdlb) l'.l"' Succes:;fully completed and passed thc following Society ofReJ! Estate Al'pr'dJ;iC,.-,;{SREA) "lid Am<:rican IJJstiwtc of Real ESlak Appr\l\WIS (AIREA) cour>t:<; ~l1di"r ':~ams, Nok: lh" SRf'..., .'(, 1I,1RE,\ 'r~r~~(l il' l"qi t" i en, r_h~ "l'pr"i,;;,1 In,[il\lle Sr.:.b\Kl SREA201. SREA: 5RE,,: ,\IRE:\ lb' SI\EA IOJ 'dRfA Al REA: '\lREA 1\1 REA ? 1 AIREA' '\IREA. "IIIE," laseSluuyufSjngltfa'lIilyResiLl,,",u; l'rinciplesof1ncumc Property Apprai"i,,<, Slngle Family R.esident';: Demonstratio~ K"I"" 1l1comc Properly Deml>nslratlon Rcpu"; C3pit,tiizationTheoryandTt.chllique, Introollctiootu A.ppra\~ing RealPrcJrer:i CaseStudics;n Real E.<;talcVahmti,..- Stdodardsut?rofessio1\aJ l'raClin' IntroduetioJt tu Rcal Eswte Inw,tm,,;! ~" il\ Valuation Aflaly-"ts and Re[l'Jt'F Wrilin~ Comprehensive Examim'li"" Ll1.igatJOn V~f\Fa[),m Stand;I1'd<;"fPn,k~""'I,,1 P,-"dice hi' ATfENDEU VARIOUS APf'RNSALS.1::MiNc\~S Ai'll! CW.L/{SE,~, JNLL!.IL'JN( j TI1C Internet and Apprai~ln~, rjolfCnursc Valuattlln DioCOllntiflg Conduminium, & ')ur,diyt,J(ln, Nanatlve R~pNI Writing Apl-'rai,ingfNronuemn,lliulI I ondemnation: Legal RlJles ,~' '\H' "j,,/i ;or,-" Ii.' '~l'nduminium,\ppraH:al Re,iewin.gAppraisal, ".nalvzing OJmmerci,,1 Led"," ('f,,,,, Emi~ent Dnmain Tnal> J'.u: OJn~ider~ljons in Real E..,t~li Te,ling Rem;onable[l<!ss(Di~,,'e"IN;' i'-''' nn'. MortgllgcEquityAnalysls Partn~r~hips & S)'f1dlcllli,,,,s Howl 3nu Motd Va/lratl<1t1 AdvanCCli AppraisHl Te;:hm'ju,,, r~<J~n\1 Appraisal R~quiremenl> Annl)'fic ll,xS of CompulCr in!h" An'!'" "I \;J<' VallJalion of L<:;L_~, and L~a"~h,,I(!, valuation litigation MoekTrial Rc~jdeJJ'i,,' Omsu'U<:IKm Fmm TIlt-, ),,,,;,1(' ( R~lcS, Rmio';, dltd Rcason~blenc": ^mllY71nglnu>m<;rHldutillgrruperli~, Dc.-elapfmml of M:zjor!Lar-ge He$ldl'l)!loll'",,,,,,," :-;landilrdsofProfession3IPraclIcc Ilcgre~,ion An;llv~)s In '\ppra;~"l P,,\c!i<,e. I--~,kr,d IIp,,,,",,,1 I, ,":lll' ' i",g"~~u ,n "J'~'~'''11~ "IOU LL',\O"I""g '''-\;grmJ~"l' H"",(j",~ ",,'C<Cll(',,( ,.rc". ,",,,,,,; ,\"oi~" Ie..-",;I,,]n), t~'t;lllO~y, ""h flow "oal)";" 'c1tI."'~nt ""nfcrcn,,"" a"~ bro'~".jI," ,,,ve,iTl~ "II "I"" of r",'I, ,\0('.' ',,,.-e I',~"u,,"l ,,[ ^nd~""'" & e,<!J', Inc., k"al"," anu Appra;""", c.t"l,li'hcd I~!, ] p,,,t PresideOI Palm Beach County Ch~pl<,r, :'l0del)' ofl<enl F,ra(e '\PI'!",','n ,'';;.: I Rc"I("rMemh~r 01 r-<:nlldl Polnllk.d, CotJnt)' ^""ci"',,,n "f ll.~Ii("" ~I=;.I Ma'lct for P~ln, <>e.ch (:lJUOly Prnp<:tly i\pproi",t f.<lju'I"'~'" \1n<"J (I",Jifkcl." &; 1"'0'<1 WiMc," I'rI,vicli,,~ H";I;nwny in ,"at"'," d"~lId,,,,,,,,,,i,-,,, -,.",--. furcd"'ute" ""d other i'-\~e. "f rcal ptopcrt)' ,-"Iualio" \]emb.r..,! Ad",;~<;nn, Cnmmitlcc. '\Pi',.i;,"II''''';i"l" S''''lh M"m\.<;' (,I Re"i~w 'ou COlJn"'lios C""jm'lIJ:,c, App",,<k'.Illl.l;tu'" "'pr,m."d app,,,,,cr [Ill State"\' F1uricla, DepJl1menI0ITran'pc-,,,o,,, ,I I' \''''',,''lOf<>1 ,cmlnar.,'[Illll<o"ecl hylhe W~S1 Palm lk,c~' Bn",cl<>' il",I' i\nUhlreJ ~[ticks r"r Jhe him Re"chJ'w" ,nu~!!ill n',\\'<le'" C ;-'e",F'c'''" \d,i;",t'8"e',1Vfe-mr"r.I'"i'-'c"JlnfFh-;d" I'iPeS UJ' PROP-ERIYA~PRA1SED- PA,R"IlAl LiSll!'" \irll1ghr, ..- - "-"- \.kdic::\IBuildin~,-- "\nlL'.('ln~'li ;'c". Sl(';'" i \J;1Il"r,~''''u" P.",I,hL); lul1l'T He_;d,nu,,_ ,\:1'1'\,: lni~T"~F.' Sr'cciaiPu'I',.cH"ildi,," ""H' l"st;lmiun, i\ulO DL"~' ,-,I:;,' i-',"t'me"" ",lbilLi,," In<:Ul' "ff1fflV' "I,,,,,,,,,,,,, ,\1,'1~f', l'i'1 .'Ut,""\': "'ri'"c'! ".1,,, bllnJ MAP Pl ~,1 'WT.I\l LIlI Wi~dolV-," (lolJr~;~;,11 ~,II(j":i;j'f ~:'i " ,IIn'Y,I~ ill" '-,;II:I"'\!J\M(!Ul '_t'N I~O. ('::HS.OO.ULJU,'-.t:<!g!l ,!,~j' Qualifications !lcrrc'IIeIIC\ien\ s.wnton B&aeh COrnrr\unltv ft.edeveloDment AQen~ PrODertv Address NE4tll Avenue__.________ CiN Bovnton Beach _~ ~1J!lt'L Paint Beach Lender N/A ___~_ S1~te F,=--~__ 1ill.COQR 334~5 QUALIFICATIONS OF APPRAISER MICHELLE J. JACKSON GENERALINFQRMAUON State - Certified General Real Estate Appraiser RZ3316 Associate Member of the Appraisal Institute South Florida Chapter EDUCA nON AND SPECIAl, TRAINING Paltn Beach Community College, Lake Worth, Florida M( Majors - Architectt,tre and Fine Art) 1984 Practiced Architectural Design in Palm Beach, Florida from 1985 through 1993. Successfully completed and passed the following courses: FREAB Residential Appraisal Course I, ~u.nuary 2005 MREA Residential Appraisal Course n, June 2006 FREAB Certified General Appraisal Course, October 2007 AI- General AppraiSer Income Approach (Part I), April2Q08 US.PAP, June 2008 Engaged. in appIaising reli.l estate on a full time basis with: Appraisal Realty Institute, March 2005 North Palm Beach, Florida Anderson & Carr, Ine, March 2006 West Palm Beach, Florida Resident of Palm Beach County since 1971. TYPES OF PROPERTIES APPRAISED Vacant Commercial Land Vacant Residential Land Commercial Buildings lndustrial Buildings Insurable Value Reports - Residential and Commercial Single Family Residences Condominiums - Residential and Commercial 2-4 Family Residential Buildings Retail Stores Self-Storage Facilities Film Production Studios rrnm MAP HlC -' Tm ~L 1m Win~ow~' appraisal software oy a)a mode, inc, - 1.80Q.ALAMODE '- I '- I '- I i i J , ./ N rr It '" ItS I ."I.ANJI~R. 1 Ilteell1>OIl4TED 001 EST. 1188 , :rtsmivn.AIl.~ i :E~~'II~~ i FLOIIDA :uG I nt 06l}.Ut-2Hl FAX: (HI).'H-5,.6 .... .'*'1,",,, tH I CORPORATION'1I<'})IB!R M~1 I REG 'J.1fCHJrZCT~ IOYNTON mrn CIlA DESIGlIS11lIlJES 115 COllage Neighborhood LocatiOD 3 _1lAOI,P1. II~~ ~ ~ I>.\lE !C,\!E "''011 CIlmED ts-~.1lXI9 N'~ \'0 \UID COITAGE I<UGHBORHOOD VIEW A-5.1 ~~~~.. -<~ ~1;I::! a h~~= @~::o!i~: :::::i _ ~~fot~ :~:ID:~.i W;::: : i;J~ ~J ~! ~~.~ OJ ~I'i ..f I~ ll:~-l: . :;JJ.... eCI .....,lIt. ua~: ~ a:...~ ga.. a;.. ~ l;J og ili~ i~ ,. .. r ( .. ( .. Q d~ ~;~ ~ lor) I <r: REG _AlfC/llrrCTS ./)1 T E It 1 0 It S .~LANN8JfS JlU:OAPotrAfEIJ ~ ('ST. \18 II m~= AlA. 'HJID1NT Al-t)l~IU JlU\UIQ,\51'IIIEf.4nm... WUT fAlN lUCK FLollD" 130* At. IUI).,,,.;nSl fAX: P'll-i".s,U __~"Kk.crOIl COItPOltA~ NUMBER. ..........' DOYNTONIlEACHClA WIG;; STUDIES #5 COllage Nei!hborhood Location 3 """""'''''''-PI. II~~ .- i D.''l'E (1.)1._ !CAlli I'.~ 1lL\1'I'X YO t'IIf'tDD \'K'ftO Sit.e 3: 2\ 600 sf 213R Cot.tage unit.s with Covered Car port garages N C01TAGE NEIGHBORHOOD I I I I~ SITE PI..AN LAYOUT 0' 25' 50' 100' A-53 Q) ~ c Q) ~ :S \!) - - :S <::t Ul -z.. CDC Parcels 3 Valuations Done - Compo Analysis - $299,900 - Lender Appraisal - $300,000 - CRA Appraisal - $300,000 Parcel Size = .86 acres Mortgage Balance = $533,000 Benefits of Purchase · With COC Parcels CRA would own 750/0 of block or 5.35 acres · Greater Redevelopment Potential \~\~~ a~\\~\\~\l \~ l-i\~rfff\\~~\~'.~ ~\.\ \i~~~ \!JDl' l \;~:~~\\\ , .Jd \ftl\\\ \ \ \ \ ~ H' .i\\ ~i~ ~--- 0- 0) U C o () ~ ~ C 0) E 0- o -- 0) ::> 0) -0 ~ (~ 'n".... ~ :lC,:: · 1 ~"'." 8"'~l!:l "~11 W~~:~ :i:a;jh Ii "1;- :s; ...... .....1 ~ la:-'L .. "" -".. .~.IIc, :: p-!...fIII I "... tl= i'i:.~.." ...... IZ. ....-=;1: e; 1 ,,~~rT<Jl<l~lll;J] 'I il ~~i.~i].l ~ I ~5 i i .. I I If I 'Ifl~ijil! I i~~ ~ ~lf]I' i I : E rt ~ il,~mr~~, f - /' .... I" { XII. NEW BUSINESS: A. Consideration of Entering into a Purchase Agreement for a Vacant Lot Located on NE 1st Street in the Amount of $105,450.00 with Thelma Marshall I~RY~T8~ eRA . East Side-West S',de-Seaside Rena',ssance eRA BOARD MEETING OF: September 8, 2009 [ I Consent Agenda II Old Business I X I New Business I I Legal I I Other SUBJECT: Consideration of Entering into a Purchase Agreement for a Vacant Lot Located atNE 1" Street in the Amount of $105,450.00 with Thelma Marshall SUMMARY: Ms. Thelma Marshall contacted the CRA office to see ifthe Agency was interested in purchasing her vacant lot located at NE 1" Street in HOB (see attached map). Ms. Marshall's lot is adjacent to CRA/City owned land on MLK. The appraised value of the property is $105,000 (see attached appraisal). The purchase agreement price is $105,450 (see attached purchase agreement). FISCAL IMPACT: $105,450 from the HOB Project Fund CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Enter in a purchase agreement with Thelma Marshall for a vacant lot at NE 1" Street in the amount of$105,450. (-{~L Assistant Director T:\AGENDAS. CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 200B - 2009 Board Meetingslg-B-09 MeetingIMarshall PA.doc ~) " - CI,) CI,) ... - en - III ~ W ) Z I - - ca .c ~ ca :E -; IRle No. 290365.0001 Paoe #11 .-...... SUMMARY APPRAISAL REPORT BASED ON HIGHEST AND BEST USE OF THE SITE '........ APPRAISAL OF A VACANT LOT LOCATED AT: NE 1st Street MEEKS ADDITION TO BOYNTON LOTS 1 AND 2 Boynton Beach, Florida 33435 FOR: Boynton Beach Community Redevelopment Agency Vivian Brooks, Assistant Director 915 South Federal Highway, Boynton Beach, FL 33435 AS OF: August 9, 2009 .- BY: ANDERSON & CARR, INC. 521 South Olive Avenue West Palm Beach, Florida 33401 561-833-1661 561-833.(J234. FAX f' Form GAS - 'TOTAL for Windows' appraisal software by a la mode, inc. -l-SOQ-ALAMODE RuBERT lJ, BMIT!N\.j, MAl, :5RA, l'R cc;!DE;, i ~late.\:erlifLed General Reol Fsl1tIC AI'p,~i"er 1':"\ :-:~,\j"L,' j,,' '\",1 ,~U',J'IV':;I;Ja: ""'il'L,',d'iclL<""ill,',l'c,','!L"I"or"i"e'i'liJ" A/lIl[)I:I2~()~ '" C41211. I~~. <(((\(<{{(((<{{((<<(<((((<<({((<((<((((((<((I(((((<<(<('<', ",'i(((\,(" <<<<{(" Appraisers. Realtors lj"))}>l>>i ">ll);; ..!>l) ,) ,)))>""-",,,',, 52l SOUTH lIl!VE 4. VL::NlIF WE$TPALM BEACll, FLORlDA Hlnl.i',II: ;""""',,,i'" www,amkrsun'~a, [, _",,',[, rckphunei561jIi3J-!rir;1 j';l<(561i8;J-nn,1 August 11, 2009 (.-J!!{'1!Jiv ,::cn'jn':JJit"- F1e!: Vivian Brooks, Assistant Director Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 Re: A Vacant Lot NE pt Street Boynton Beach, Florida 33435 Our File No. 290365.000 Dear Ms. Brooks: At your request, we have appraised the above referenced property. The purpuse uf this appraisal was to estimate the market value of the fee simple estate of the subject property, as of August 9,2009, the date of inspection. The intended use of this report is for possible acquisition purposes. The subject parcel is currently zoned, R2, Multi-Family Residential with a corresponding Multi~Family land use designation by the City of Boynton Beach, The parcel is located in the Heart of Boynton Beach, a re-development area unde.r the guidance of the Boynton Beach Community Redevelupment Agency According to the Master Plan for the Heart of Boynton Beach, the subject parcel is destined to have its zoning changed to R3, Multi-Family District with a ClJrresponding land use of Me-DR, Medium Density Residential, 10DU/Acre. The parcel identification numher for the subject parcel is 08-43-45-21-24-000- 0010. As a result of our analysis, vie have developed an opinion that the market value (as defined in the report), subject to the definitions, certifications, and limiting conditions set forth in the attached report, as of August 9, 2009 was: ONE HUNDRED FIVE THOUSAND DOLLARS ($105,000 I The following presents a complete appraisal in a summary report. This letter must remain attached to the report in order for the value opinion set forth to be considered valid, Your attention is directed to the Assumptions and Limiting Conditions that follow. Respectfully submitted, ANDERSON ::::> Robert B. Banting, , StarCertlfied General Real Estate Appraiser #RZ4 k\'llu_tlI1 ) (bCj!l~ Michelle J. JaCks' r State Certified General Real Estate Appraiser #RZ3316 RBB/MJJ LAND APPRAISAL REPORT lRIe No. 2903650001 Paoe#21 Borrower Bovnton Beach Community Redevelopment AQencv Census Tract 61,00 Map Reference 100 Property Address NE1stStreet City Boynton Beach County Palm Beach Stale FL Zip Code 33435 le!]1l1 Oescription MEEKS ADDITION TO BOYNTON lOTS 1 AND 2 f $ Price DerSF DateofSaJe N1A LoanTerm~yrs. Property Rights Appraised [S]Fee o leasehold D De Minimis PUD ^ .aI Estate Taxes $ 1.836 (yr) Loanchargestobepaidbyseller$ N/A Olhersalesconcessions N/A Lender/Client Bovnton Beach Community RedeveloDment Aaencv Address 915 South Federal Highway Bovnton Beach FL 33435 Occupant NfA Appraiser Michelle J, Jackson Instructions 10 Appraiser land Form Aooralsal for Dossible ac"ulsltlon hv the eRA of Bnvnton Beach, Florida. peN' 08-43-46-21-24-000-001 0 Location ~U'ban ~~UbUrban bl Rural Good Avg, Fair Poor Bui~ Up ~Over75% 025%1075% DUnder25% EmploymentStabilily OO~O 6rowthRate DFullyDev. DRapid Osready [:g] Slow Convenience to Employment O~OO Property Values o Increasing OSlabl. [:g]Declining Convenience to Shopping ~OOO Demand/Supply DShortage DlnBalance [:g]oversupply Convenience to Schools ~OOO Marke1inglime DUnder3Mos, D4-6Mos. [:g] Over 6 Mos. Adequacy ot Public Transportation ~OOO PresentLandUse ~%1Family~%2-4Family ----1Q%Apts. _%Condo---.!%Commerclal RecrealionalFacilities O~OO _% Industrial_%Vacant 35% ChurchfSchooUPark AdequacyofUlllities O~OO Change in PresenlLand Use o NrrtUk.ly ~~Lik'IY(') DTakingPlace(*) PropertyCompatibilily O~OO (*) From R2 To R3 Protection from Detrimental Conditions O~OO Predominant Occupancy [:g] Owner DTenant -----L% Vacant Police and Fire Protection O~OO Single Family Price Range $30.000 to$235.000 PredominanlValue$ 50.000 General Appearance of Properties OO~O Single family Age -------L yrs, to---E.. yrs. Predominant Age 53yrs, Appeal to Market OO~O Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, view, noise): Sublect aro ~m consists of one narcel that Is on the SWC of NE 1st StrGetand NE 11th Street In Bovnton Beach Florida, This Is within the boundaries of the Heart of B nton Redevelonment Master Plan. The sublect site Is currentlv vacant This Is a transitional nelnhborhood as the eRA of B..... nton Beach has plans to acnulre these Drooertles and rezone them allowlna for reolaWna and redevelo"'ment See General Text Addendum. Dimensions 78.62' x 160.09' x 78.62' x 160.09'IBased on Plat MaD} 11,790 Sq. Ft. or Acres ~ Comer Lot Zoning classification R2 - Multl-Famllv Residential District ICurrent! Present Improvements [:g] do D do not con1orm to zoning regulations Highest and best use o Present use IZI Other (speciM Pro"'osed Land Use Plan Indicates MeDR - Medium Densltv Residential -10 DU/Acre Public Other (Describe) OFF SITE IMPROVEMENTS Topo LevelwlthstrGetllrade. Elec. ~ At road front SlreetAccess [:g]Public Dprivatll Size Ical for nelahborhood Gas 0 None Surface AsDhalt Shape Rectanale Wate, ~ At road rront. Maintenance fZJPublic DPrlvate View Residential San. Sewer ~ At road front ~SlormSewer I;ii Gurb/Gu"" Drainage ADooarsadeauate 0 Underground EJect. & Tel. o Sidewalk SlreetLinhts Isthe property localed In a HUD Identlfled Special Rood Hazard Area? ~NoOY" Gnmments (favorable or unfayorable Including any apparent adverse easerrumls, encroachments, or other adverse concllllons): None noted althou h an Environmental Phase I sUO'V6<l was not ordered or reviewed bv this appraiser and Is b""ond the scan<> of this assltIDment The sublect ro e Is currentlv In an area of l-f.8-develonment The Pro osed Land Use Plan has desl nated this area for Medium Densltv Residential MeDR} with a maximum of 10 dwelllnn units -e wfth a Drooosed %onlna of R3 Multl-Famllv Residential. drsigned has recRed three recent sales of properties most similar and proximate to subject and has considered these In the market analysis. The description Includes a dollar adJusunenl reflecting market reaction to those Rems of significant variation between the subject and comparable properties, ~ a significant Item in the comparable property is superior 10 or more favorable than the subject property, a minus (-J adjustment is made thus reducing the Indicated value of subject if a significant nem In the comparable is inferior to or less favorablelhanthesubjectproperty,aplus(+)adjuslmentlsmadethusincreasingtheindicatedvalueofthesubject. ITEM SUBJECT PROPERTY COMPARABLE NO, 1 COMPARABLE NO.2 COMPARABLE NO. 3 Address NE 1st Street NE 9th Avenue NW 9th Avenue Martin Luther King Boulevard Bovnton Beach Bovnton Beach Bovnton Beach Bovnton Beach PrcximilvtoSub"'ct 0.12 miles 0.12 miles 0.10 miles SalesPrlce PricePerSF I. 11,96 II 12.03 I. 9.83 Pric-SalesPrice Sales Price I. 69150 II 69150 I. 60000 I nata Source Public Records Files Public Records Wln2Data Attn". Public Records W1n2Data Attnv. Public Records Wln2Data Deed Da:te of Sale and DESCRiPTION DESCRIPTION 1+ _ Must. DESCRIPTION I+HSAdiust DESCRiPTION + -IS Adiust. lime Adjustment NlA 0612009 : -.50 0512009 -.36 02/2008 : -1.00 location Corner Lot InterlorL.ot : fnterlorLot : Interior Lot ISm.Miew ResIdential Residential : Residential : Residential TractSlzeJSileUtil 11 790 SF +1-1 Averaae 5777 SF +1-1Avera e -1.20 5746 SF +f-lAveraae -1.20 6 098 SF +1-IAveraae : -,98 Zonina R3 Proaosed R3 Prooosedl R3 IPronosedl R3fProlKlsedl : lmarovemllnls Vacant Vacant Vacant Vacant : OR BookIPaae 1695910407 23238/1740 : 2323811736 22492/1063 Sal6S or financing NlA Cash to Seller Cash To Seller Cash to Seller Concessions None Known None Known None Known : NatAli;, (Total 1+ ;. 1.7 '+ : 1.56 + R1 ,. 1.98 IndicaledValue Net 14.2 % )</: Net 13.0 % 1$ Net 20.1 % It of Subject 10.26 10,47 7.85 Comments on Marke1Data: All three sales and three IIstln 5 used In this re ort are located within of the Heart of B nton Redevelo ment boundaries. No weI"ht was "Iven to the current Ilstlnas In the final anal-is, T""'lcal homes In the sublect nelahborhood are selllna from t30 000 u to 236000, Suu Attachud Salea Summarv. Comments and Canditions of Appraisal: This summarv aDPra1sa1 assumes that there are no environmental Droblems or adverse conditions with the sublect alte. A soli stud" was not rovlded. The site Is currentlv vacant and a..: ars somewhat level. The hiahest and best use of the site Is for land banklna until such time as economic conditions Imorove and will su......ort re-develo ment with multl-familv residential comoonents as arovlded under the nro......sed zonln and land use deslanatlons. Final Recancillatian: All three salell are Iven consideration In the final anal""'ls. Based on the marto;et sales a orlce oer sauare foot located In the middle of the ad1usted "'rice scale Is Indicated for the sub ect 1M as of Aunust 9 2009 of 9/SF. f- .1 ~1@: YA1U ,AS _:~D, Of SUBJECT PROPERTY AS OF AUQust 9. 2009 tobe$105000 Il ' a' ",A~ECERT.~~EA#'Rz331.I'r ~E~~~ ~ Michelle J. Jackson be--:;i ISI Old Not Physically Inspect Property Aaoraiser(sl Review Annraiser fiI arm1icabl~ __ FileNo 290365000 [Y2K) Anderson & Carr, Inc, Fonn LND - "TOTAL for Wlndaws' appraisal software by a la mode, inc, -1-800-ALAMODE --.DlM _~Ul!!.CTPROPER.J! LAND APPRAISAL REPORT MARKET DATA ANALYSIS COMPARABL~ ~~ 4_ NE 10th Avenue Bo nton Beach 0.18 miles 14.06 109000 ML$ R2969579 Public Records DESCRIPTION + I!,dUS! Listinq _ 287 DOM -1.40 Interior Lot -,-_ Residential -r- 7751 SF +1-iAvera!:le -1.40 R3(ProPo,2edl Vacant N/~ NIA CqMPARA.Q.LE NO NE3rdSt~t So ntonSeach Q,26 miles 10,00 75000 MLS R2962611 Public Records DESCRIPTION .+U$Mus! listinq-314DOTl!l __ -1.00. Corner lot _ Residential 7500SF+/-iAvera e FQJ~posedl _ V,!~nt NfA__ NIA 2.8 I + IXI- -cl Net 20,0% -r-- 11.26 Anderson & Garr, lac. Farm lNO,(ACJ - "TOTAL larWirn!aws" appraisal software by a la mode, inc. --1-800-ALAMOQE fllt~ i'j,_ /'!!)3n~ 'I(NJi i-'illjt'" HI~N(!. 290365.000 __CQ.MPABAB~ENO NE11th Street BovntonBe~fh . 0.16 miles 1L 8.~_ <1.00,. InteriorL5lt Residential 7,542SF+I-IAveraQe R3~lill..~_edL V~t. N/~_ NIA ,f!8 -' rX1-:s _1.7_'? 8 Nef 198 % $ 7.12 Supplemental Addendum I Borromr Client ntGn B9acb Commun"" R&OevelMlment AnenrN Prooertv Address NE 1st Street Citv Boynton Beach CounT" Palm Beach State Fl Lender N1A 1f1leNo.290365,QOOI Paoe#41 RJo No. 290365.000 Z-;;:-Co\le 33435 ICOME APPROACH TO VALUE: The Income Approach to Value is not applicable as the typical purchaser is an owner/developer who would not buy same as an income generating property. SALES HISTORY: The subject property was last transferred by Warranty Deed in May of 2004 for a recorded price of $10 as recorded in OR Book 16959, page 0407 of the Public Records of Palm Beach County, Florida. This information does not constitute a title search. SALES SUMMARY: The subject property has a proposed land use designation of MeDR, Medium Density Residential, 10 DU1Acre and a proposed zoning designation of R3, Multi-Family Residential under the Heart of Boynton Beach Redevelopment Master Plan. The subject property is currently vacant. All of the comparable sales and listings are within the boundaries of the Heart of Boynton Beach Redevelopment Area as designated by the Boynton Beach Community Redevelopment Agency, This neighborhood is experiencing a revitalization effort. The comparable sales were adjusted for their differences when compared to the subject. All of the sales are sites that were purchased for residential development or potential future residential development. A typical buyer of the subject would consider this development option, All of the sales are located within one mile of the subject. Sale 1 is located on the north side of NW 9th Avenue, just east of N, Seacrest Boulevard in Boynton Beach, Florida, This sale occurred in May of 2009 and sold for $69,150 indicating $11.96 per square foot of vacant land. A small downward adjustment was made to this sale for time as the real estate market in Palm Beach County has been on a steady decline over the past few years. An amount of 1 % per month of difference was used in determining this adjustment A downward adjustment was also made to this sale due to its smaller size. Typically, smaller lots go for a higher per square foot price than larger lots. Sale 2 is located on the north side of NE 9th Avenue, just east of N, Seacrest Boulevard in Boynton Beach, Florida, This sale occurred in May of 2009 and sold for $69,150 indicating $11.96 per square foot of vacant land, A small downward adjustment was made to this sale for time as the real estate mark.et in Palm Beach County has been on a steady decline over the past few years, An amount of 1% per month of difference was used in determining this 'djustment A downward adjustment was made to this sale due to its smaller size, Typically, smaller lots go for a igher per square foot price than larger lots. Sale 3 is located on the north side of Martin Luther King Boulevard, east of N. Seacrest Boulevard in Boynton Beach, Florida. This sale occurred in February of 2008 and sold for $60,000 indicating $8,88per square foot of vacant land, A downward adjustment was made to this sale for time as the real estate mark.et in Palm Beach County has been on a steady decline over the past few years, An amount of 1 % per month of difference was used in determining this adjustment. A downward adjustment was also made to this sale due to its smaller size. Typically, smaller lots go for a higher per square foot price than larger lots, Listing 4 is an active listing on MLS, It is located on the south side of Martin Luther King Boulevard, east of N. Seacrest Boulevard in Boynton Beach, Florida. It has been on the open market for 287 days with no offers. This listing appears to be overpriced. This listing was adjusted downward for difference in size, like the comparable sales, and was also adjusted downward for negotiations and length of time on market. Listing 5 is an active listing on MLS. It is located on the northeast corner of NE 9th Avenue and NE 3rd Street, east of N. Seacrest Boulevard in Boynton Beach, Florida. It has been on the open market for 314 days with no offers. This listing appears to be overpriced. This listing was adjusted downward for difference in size, like the comparable sales, and was also adjusted downward for negotiations and length of time on market. Listing 6 is an active listing on MLS. It is located on the north side of NE 9th Avenue, east of N. Seacrest Boulevard in Boynton Beach, Florida, It has been on the open market for 314 days and has had one offer. The offer was a good one according to the listing agent but the buyers financing fell through. No recent activity has been seen on this listing. This listing appears to be overpriced. This listing was adjusted downward for difference in size, like the comparable sales, and was also adjusted downward for negotiations and length of time on market After all adjustments, the market indicates a range in price per square foot for the comparable sales from $7.85 (Sale 3) to $10A7 (Sale 2) per square foot Considering the declining real estate market in Palm Beach County and the lack of recent sales activity, the middle of the range is concluded for the Subject property at $9.00 per square foot and is calculated as follows: 11,790 SF x $9.00ISF = $106,110 Rounded to: $105,000 2008 ASSESSED VALUE: '":>ubject property is currently assessed for a total market value of $92,000 indicating a total tax liability of $1 ,836. Form TADD - 'TOTAL for Windows' appraisal software by a la mode, inc, -1-800-AlAMOOE Supplemental Addendum !hlt N[c_~81J;ili'JJ.IQQU)nqt_#"; FileNo 2903(;5.000 Borrower Client Bo nton Beach Community Redev~lopment A~y _ Pro € Address NE1stStreet cit So nton Beach C2Jm!y. Pall7J BeaE!!- Lender NIA State FL _L\.P C{)~tt 33435 IMPROVEMENTS: Subject property is vacant. CLIENT DISCLOSURE AND INTENDER USER This Summary Appraisal Report is intended for use by the Boynton Beach Community Redevelopment Agency and/or assigns. Use of this report by others is not intended by the appraiseL PURPOSE OF REPORT: The Purpose of this Summary Appraisal Report is to estimate the Market Value, Fee Simple Estate of the Subject property based on its "As IsN condition as of August 9, 2009. INTENDED USE/USER OF THIS REPORT: The Intended Use/User of this Summary Appraisal Report is to provide the client, the Boynton Beach Community Redevelopment Agency, with a supportable estimate of value for the subject property which can be utilized for possible acquisition purposes SCOPE OF ASSIGNMENT: In keeping with the purpose of the appraisal and the appraisal process, the appraisers have engaged in original research to provide a complete analysis for the client Data from analysis has been gathered from various sources, such as the Palm Beach County PUblic Records, First American Rea! Estate Solutions, county and local planning & zoning departments, local realtors, property owners, and other appraisal offices. The product of this research and anarysis is formulated within this report for analysis of and direct comparison with the subject property being appraised. Additionally, we have used original research performed in preparation of other appraisals by this office, which is considered appropriate for the subject property. This report is a complete appraisal in a summary format Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property that would make the property more or less valuable. The appraiser makes no guarantees or warranties, express or implied, regarding the condition of the property. This summary appraisal report is not a home inspection and/or an environmental inspection and cannot be relied upon to disclose defects or conditions in the property. The appraiser perfonns an inspection of visible and accessible areas only A professional environmental inspection is recommended. 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Form MAPPLAT -'TOTAL for Windows' appraisal software by a la mode, inc.-1-800-ALAMODE IFile No. 290365.0001 Pace #91 Aerial Map Sale 1 Borrower/Client Boynton Beach Communltv Redeyelooment AaenCY Pronertv Address HE 1 st Street Citv Boynton Beach Counlv Palm Beach State FL liD Code 33435 Lender N1A Form MAP.PLAT - 'TOTAl for Windows' appraisal software by a la mode, inc. -1-800-ALAMODE IFiIe No 290365 0001 Pace #101 Aerial Map Sale 2 Redeyelo ment A enc Coun Palm Beach State FL Zi Code 33435 r Form MAP PLAT - 'TOTAL for Windows' appraisal software by a Ia mode, inc. -1-800-ALAMODE IFile No. 290365.0001 Pace #111 Borrower/Client Bovnton Beach Communltv RedeveloDment Aaencv Prooertv Address HE 1st Street lio Code 33435 Citv Bovnton Beach County Palm Beach State FL Lender N/A Aerial Map Sale 3 Form MAP.PLA T - 'TOTAl for Windows' appraisal software by a la mode, inc. - 1-800-ALAMODE IFile No 290365.0001 Paoe #121 Aerial Map Listing 4 State FL li Code 33435 ( r' Form MAP.PLAT - 'TOTAL for Windows' appraisal software by a la mode, Inc. -1-8OD-ALAMODE IFiieNo 290365.0001 Paoe #131 Aerial Map Listing 5 Borrower/Client Bovnton Beach Communlt;; RedeveloDment AlIencv Prooertv Address NE 1st Street Citv Bovnton Beach Countv Palm Beach State FL lin Code 33435 Lender N/A Form MAP.PLAT - 'TOTAL for Windows' appraisal software by a la mode, inc. -1-800-ALAMOOE 1~lIe No. 2YlTJo~ UWll'aoe #141 Aerial Map Listing 6 State FL li Code 33435 r Form MAP.PLAT - 'TOTAL for Windows' appraisal software by a la mode, inc. -1-800-ALAMOOE Boundaries of Heart of Boynton Redevelopment Plan IFile No. 290365,0001 Pace #1 ~I Redevelo ment A en Cou State FL Zi Code 33435 Palm Beach The Heart of eoy ntOlI'! 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PIlI lI!'tllllfilU.BnIil1 Form MAP.PLAT - 'TOTAL for Windows' appraisal software by a Ia mode, inc. -1-800-ALAMOOE Subject Photo Page State FL ~~~~~;.~s:?;~~~:: , ", IFile No. 290365.0001 Pace #181 Zi Code 33435 Subject Front View NE 1 st Street Sales Price Gross Uving Area T olaf Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Price Per SF Comer Lot Residential NE 11th Avenue Looking East NE 11th Avenue Looking West Form PIC3x5.SR - 'TOTAL for Windows' appraisal software by a la mode, inc. -1-800-ALAMOOE irll" rJ<I_}Slo3Q$,DrJDLf'il!J~#~ c: 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 dat~ 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 orwell advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in tenns 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 safe. "Adjustments to the com parables 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 judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following 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. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title The property is appraised on the basis of it being under responsible ownership, 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch Is included only to assist the reader of the report in visualizing the property and understanding the appraisQr's detennination 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 the appraisal report whether 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. 5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid if they ar'e so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, ete,) observed during the inspection of the subject property or that he or she became aware of during the nonnal research involved In performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. 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, the apprai$al report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume re$ponsibility for the accuracy of sllch items that were furnished by other parties. 8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standaros of Professional Appraisal Practice. 9, 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 completion of the improvements will be performed in a workmanlike manner. 10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report (inclUding conclusions about the property value, the appraiser'S identity and professional designations, and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage im.urer; consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data collection or reporting servlce(s) without having to obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media. FrerldieMacForm4Jg6-93 Page1of2 Fannie Mae Form 1004B 6-9S Anderson & Carr, Inc Form ACR DEFD - "TOTAL lor Windows" appraisal software by a ia mode, mc_ - 1-800-ALAMODE IFile No. 290365,0001 Paoe#201 APPRAISER'S CERTIfiCATION: The appraiser certifles and agrees that: I have researched the subiect market area and have selected a minimum of three recElnt sales of properties most similar and :Imate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when .~"ropriate to reflect the market reaction to those Items of significant variation. If a significant Item In a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce tM adjusted sales price of the comparable and, If a significant item In a comparable property Is Inferior to, or less favorable th.m the subject property, 11Iave made a positive adjustment to Increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value tn my development of the estimate of market 'IIslue In the appraisal report. I have not knOWingly wfthheld any significant Information from the appraisal report and I believe, to the best of my knowledge, that all statements and Infonnation In the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal, unbiased, and profeSSional analysis, opinions, and conclusions, which are SUbject only to the contingent and limiting conditions specified In this form. 4. I have no present or prospective interest In the property that Is the subject to this report. and I have no present or prospective personal Interest or bias wfth respect to the participants In the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report on the race, cOlor, religion, sex, handicap, famUla1 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. 5. I have no present or contemplated future Interest In the subject property, and neither my current or future employment nor my compensation fot performing this appraisal Is contingent on the appraised value of the properly. 6. I was not reqUired to report a predetermined value or direction In value that favors the cause of the client or any related party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation andlor employment for perfonnlng the appraisal. I did not base the appraisal report on a requested minimum valuation, II. specifiC valuation, or the need to approve a specific mortgage loan, 7. I performed this appraisal In confonnlty 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 as of the effective date of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure III the open market is a condition In the definition of market 'IIalue and the estimate I developed is consistent with IDe marketing time noted In the neighborhood section of this report, unless I have otherwise stated In the reconciliation section. I have personally Inspected the interior and exterior areas of the SUbject properly and the exterior of all properties listed as Iparables In the appraisal report. I further certify that' have noted any apparent or known adverse conditions In the subject ~rovements, on the subject site, or qn any sIte within the immediate vicinity of the subject property of which I am aware and have made adjusbnents for these adverse conditions In my analysis of the property value to the extent that I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the SUbject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth In the appraisal report. If I relied on significant professional assistance from any individual or Individuals In the performance of the appraisal or the preparation of the appraisal report, I have named such Indivldual(s) and disclosed the specific tasks performed by them In the reconcillation section of this appraisal report. I certify that any IndMdual $0 named Is qualified to perfonn the tasks. t have not authorized anyone to make a change to any item In the report; therefore, if an unauthorized change is made to the appraisal report, I will take no responsibility for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser. agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report ADDRESS Of PROPERTY APPRAISED: NE '01 s.... B APPRAISE Name: Robert B. Bantlnu OateSillned: Auauet11.2009 Stals certification #: State Certified GliIneral RE. Aoorals" ,RZ4 or State License #: State: FL ExpllatiollOablofCe-rtifu:-alionorUcense: 11/3012010 Signature: .l Name: Michelle J Jackson Date Signed: Auaust 11, 2009 Slate Certification #. State Certified General Real Estate AppraiSer 'RZ3316 or&ablLicense#: Slate: FL ExplrallonDate 01 Cerlification or License: 1113012010 o Old IZI DidNollnspectProperty Freddie Mac Form4396--93 Page 2. of , Fannie Mae Form 100486-93 Form ACR DEFD - 'TOTAL forWlndows' appraiSal software by a la mode, inc. -1-800-ALAMODE SUPPLEMENTAL ADDENDUM !!)eJ\)D ~1!Q:j:t;5:D_QlJrF;dqf,#,il l-iieNu 290365,000 Borrower Client 80 nton Beach Communi Redevefol!l!lent ~~Y Pro e Address NE1stStreet Ci So ntorr Beach Cmmll. Pal!!! ~eac!1__ Lender NfA ~!Q.te FL fui;()(j~_},;l43-5 Statement of Limiting Conditions and Appraiser's Certification (Continued): 11. I certIfy that, to the best of my knowledge and belief, the reported ana!y-ais, opinions and conClusions were developed, and this report has been prepared in confonnity with the requirements of the code of professional ethics and the standards of professional appraisal practice of the Appraisal Institute, 12. I certify that the use of this report is subject to the requirements of the Appraisal Institute relating to nwiew by ils duly authoriz.edrepresentatlve. 13. The <lppmisers have performed within the conte.xt of the competency provision of the Uniform Standards of Professional Appraisal Practice. 14. The use of this report is subject to the requirements of the Appraisallnstltute and the State of Florida Oivision of Real Estate, Florida Real Estate Board, relating to review by their duly authorized representatives. 15. This appraisal report has been prepared for the e:xclusivlll benefit of the client. It may not be used or relied upon by any other party. Any party who uses or relies upon any information in this report, without the pre parer's written conl;ent, does so at this own risk. If this report is placed In the hands of anyone but the client, client shall make such party aware of all the Assumptions and llmiting Conditions ofthis assignment 16. As of the date of this report, Robert B. Banting, MAl, SRA has completetl the requirements of the continuing education program of the Appraisal Institute. 17. ACCEPTANCE OF, AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. Form SUP - 'TOTAL for Windows" aDpraisal software by a la mode, inc, -1-800-ALAMODE IFile No. 290365.0001 Paae#21J Qualifications Barra r lient ao nton Beach Communi Rede-velo nt A en Po e Addres NE1stStreet Ci B nton Beach Cou Palm Beach Lender NlA Sta FL Ii Corle 334'3S QUALIFICATIONS OF APl'RAlSER ROBERT B. BANTING, MAl. SRA PROFF5l..">lONAl DFSlGNp,110NS _ YEAR REn"JVED fIW - Member Appraisal Institule . 19M SM- ScniOl"RcsidcntialApp(aisc;r:Appralsal.lost.it~#1977 SRPA -Senior Real. Property AppralSer, ApPf3i$allIlStllLl1e.~ l~ State-Certified General Real EJtatIl Appraiser, State of FlOTlda. Uccnse No. RZ4 -1991 F-DlK'ATlONAND~F.aAl~TRAlNING . UcellSCdRealEstatearoker-#3748.StateoI~lorida ... . . a1Estare&.UrbanUmdStudies)l973 Graduate, University ofFJorida, Olllege oIBuslnessAdminis1.ranon, 85BA (~Jor(~) and American Institute or Real 5IJccessfullyo::.mpletwandpassedthe~gSoci~~~~~~~.tT~ merged. in 1991 to fOtW. me Appraisal Estate AppraillerS (AlREA) courses lltlwOr enms: . Institute, SREA R2: SRBA201: SREA: SREA: AIREA 1B: SREA10l: A1REk AlREk AlREk AIREA2-2: AlREk AIREA: AIREA: Case Study of Single Fwnily Resideilce Principles of Income Property Appraising Single Fwily Residence Dwlonstnrtion Repon Income Property Demonstration Report Capil.ali:"l.ation Theory and Technlql1CS Introduction ro Appraising Real Property Case Studies in Rca1 Estate Valuation StandardsofProfessionaIrractice 1ntroductiontaRcal~lnvutIrlCntAnlllysis Valuation Analysis and Repon writing Comprehensive E.wnlnation UtigatiotlValuati<ln Standardsofprofcssional Practice PartC ATTENDED VARIOUSAPPRAISALSEM!NARS AND COllRSES lNCI UDING: The Internet and Appraising Gcl:rCm1ne Villuation Dis<:ounring Condom/niwtlS & Subdivisions Narrativc Report Writing Appraising for Condemnation Condemnation: Legal Rules & Appraisal Practlces OlndominilllIlAppraisaJ Reviewing Appraisals. Analyzing Commercial Lease aauses Eminent Domain Trials Tu.Consi<kratioosin Relll Estate Testing RcasonablenesslDisoounted Cash Flow Mortga&e Equity Analysis Partnerships &. syndicaticm Hotel and Motel Va/uatlon Advanced AppraIsal Tecl1niques federatApptaisal Requirements Analytie Uses ofComputcr in the Appraisal Shop Valuation of Lca.scs and Leaseholds Valuation Litigation MocK Trial Residential Construction From The IMide Out Rate&,Ratios,anllReasonableness Analyzin,g Income Producing Proputies Development o{MajorlLargc Residential Projects StandardsofPl'OfessklnalPracticc Regression Analysis InApprai~ Practice Federal Appnlisal Requirements Enpg:du. .ppnlsing and ccllSll1tinaassigJlllU:nts including lllarketreseardl,.-.:ntaJ ftudillS, f~;biIitya~. c><pcn wit= lc$limony.~tI<>"'/IJI1lI)1;s.settlemcnt~andbrokenpCCYeringalllypesClfreaIOllla!Csin,",1972. PresillentorAJIderson&Can',Jnc.,RealllOlllllldAppraiscrs,~blW.edl947 Past !'reWJent Palm Sea'" County a.aptu. Society of 1<<::.1 E:slatc Appra;,en (SREA) ReallOTMlOlllworCentral Plllm S"""" Collnly AssodlltiDJI orRemtcn Spedal Muler fur PWm Ba.d> County 'l'ropcrty Appraiul Adjustment SDllrd Qualified as an Exp~rt Witnes5 providing lCSllmony;n ,natul~ Qf c:ond<:ml\i.tion, prcjlI>I1)o t1fflplJteS, bankruptcy cc~n, {=~\lTU,;lIllictheriA$u=oI",alp",pcrty\'lllll.tion, M~mbercr A.dmissiolU Committee, A~ rnsti.....te-S<llllh Flrn-ion ChsIpler Ml:l7I'berofRcview and Countelinll Ccromltt<><:, AppralsalllUliWte -Sov,l:h Florida Cltapll!r Apprl>YCd 'pPfaisar rorSlat<oofF\o:>rida.DqrmmOOltofTl':lnsportation and Department Nalll",l Resources, l",tructol"oC""",;nars,.ponson:dbyllleW""tPalmBeacltSoardorRealwlS. AuthOledankl<:st'o<l'M.1'1ll1llRallChl'MandR.alt2t:ne....stetler. Real Eslate Adviliory llQard Member. Unive~ty orFlerida. TYPES OF PROPERTY APPR.AJSED. PARTIAl USTING Air Rights Medical Buildings Amu:;emcntParks DepartmenlStorcs Condominiums Induurlal Buildings Co,,,,, Rcsidcno-.:.'S ~ I\ll Type~ Mobile Home Parks Interests Special Purpose Bui!dings Restaurants 1Il5tirutions Auto O<::;rlerships Vacanl. Lots _ Acrea.g.e Easements Apartroent'Buildings Hotels-Motels Office Buildings Churches -"" Shopping l.eUl:.\lOld ServiccStations Gol(CoUTSCS Financial RcsidentialprojeclS OIl am CtlITently certified under the ~ntinuing cducatlon prosram or the Appraisal Institute:. Form MAP,PLAT - 'TOTAL for Windows' appraiSal software hy a la mode, Ill!:. -1-8QD-ALAMODE 1 i1r. i..!,-, "'~HJ:'6::'illiUj Pai!(; #2) Qualifications Borrower Client Bo nton Beach Communitv Redevelopment Aqency ---- Pro e Address NE1stStreet Cit 80 nton 8eac~_ CqlJlill'....j'alm 8e.!~ Lender NIA S.tIDLJl _ZioC-ad" 3~35 QUALIFICATIONS OF APPRAISER MICHELLE J. JACKSON GENERAL INFORMATION State - Certified General Real Estate Appraiser RZ3316 Associate Member of the Appraisal Institute South Florida Chapter EDUCATION AND SPECIAL TRAINING Palm Beach Community College, Lake WOrth, Florida M( Majors - AIcmtecture and Fine AIt) 1984 Practiced Architectural Design in Palm Beach, Florida from 1985 through 1993. Successfully completed and passed the following courses: FREAB Residential Appraisal Course I, ~anuary.2005 MRBA Residential Appraisal Course II, June 2006 PREAB Certified General Appraisal Course, October 2007 AI- General Appraiser Income Approach (Fait 1), April 2008 USPAP, June 2008 Engaged in appraising real estate on a full time basis with: Appraisal Realty Institute; March 2005 North Palm Beach, Florida Anderson & Carr, Iric, March 2006 West Palm Beach, Florida Resident of Palm Beach County since 1971. TYPESOFPROPERTIESAPPRPJSED Vacalit Commercial Land Vacant Residential Land Commercial Buildings Industrial Buildings Insurable Value Reports - Residential and Commercial Single Family Residences Condominiums ~ Residential and Commercial 2-4 Family Residential Buildings Retail Stores Self--8torage Facilities Film Production Studios Form MAP.LOC ~ "TOTAL for Windows" appraisal software by a la mode, inc. - 1-800-ALAMODE PURCHASE AGREEMENT Page 1 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 III, of the Florida Statutes (hereinafter "CRA") and Thelma Marshall, a single woman (hereinafter "SELLER"). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALEIPROPERTY. 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 follows and is subject to verification by a survey: Legal Description: Lot I, MEEKS ADDITION TO THE CITY OF BOYNTON BEACH, according to Plat thereof, as recorded in Plat Book 9, Page 54, of the Public Records of Palm Beach County, Florida Parcel Number: 08-43-45-21-24-000-0010 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be One Hundred Five Thousand Four Hundred Fifty-five ($105,455.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Monev Deposit. Within five (5) Business Days after the Effective Date, Purchaser shall deliver to Goren, Cherof, Doody & Ezrol, P .A. ("Escrow Agent") a deposit in the amount of Five Thousand Dollars ($5,000.00) Dollars (the "Deposit"). 3.2 Application/Disbursement of Deposit. The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party shall have such additional rights, if any, as are provided in Section 12. 3.3 Escrow Agent. CRA 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 T:\DEVELOPMENT\HOB\illK Corridor\Phase I Properties\Marshal], Thelma\Marshall PA.doc u7/14/~008 15 08 FoX ;CJ' PURCHASE AGREEMENT Page 2 ofl2 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 interpleods the subject matter of the escrow, Escrow Agent will pay the tiling 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 an parties on or before July 31, 2009, the Deposit will, at CRA's option, be returned Hnd this offer shall be deemed withdrawn. Unless otherwise stated, the time for acceptal1ce 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 the last one of the CRA and SELLER has signed or initialed this offer or the final counteroffer. 5. ~JliJG. The purchase and sale transaction contemplated herein shall close on or before 9. "l (the "Closing"), unless extended by other provisions of this Agreement of by writte agreen1ent, 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 defi:ned), 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 "Pennitted Exceptions"): (a) covenants, conditions, easements, dedications, rights-oE-way and matters of record included on the Title Commitment or shown on the Survey (defmed in Section 7), to which eRA fails to object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof 7. FEASmILlTY PERlOD. CRA, and C~'s agents, employees, designees, Contractors, surveyors, engineers, architects, attorneys and other consultants (col1ectively, "Agents") shall have sixty (60) 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 frOlD time to time with reasonable notice to SELLER and so long as said investigations do not'result in a business interruption, to perform any and all physical tests, inspections, and investigations of the Property, including but not limited to Phase I and Phase II investigation:;, which CRA may deem necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this contract and receive hack all Deposits hereunder. If CRA 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 testing and investigation; and (ill) release to SEILER, 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, T:\DEvet.OPM6N'I\H06\tdLK corridor\Phuc: I ~rti=s\Marsha-lI, Ihelmfl\Mllrs~lI PA.doc PURCHASE AGREEMENT Page 3 of 12 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 aU daim~, losses, expell~~S, dew!:4nr1<:! ~11r11;!:lh;l;tip'Q> ;11(':11111;n8, tmt 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 CRA 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, CRA shall have the right to cause the Title Company to issue an updated Title Commitment ("Title Update") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, 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 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. T:\DEVELOPMENT\HOB\MLK Corridor\Phase I Properties\Marshall, ~elma\Marshal1 PA.doc PURCHASE A(jREEMENT Page 4 of 12 7.3. Survev Review. CRA, at eRA'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 hy 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 wananttes of SELLER contained in this Agreement shall be true and conect as of Closing. 8.2 APl?roval bv CRA Board. The Purchasc Agreement is contingent upon the approval and authorization by the eRA Board. 8.2. Condition of Property. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever, pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Compliance with Laws and Regulations. The Property shal1 be in compliance with al1 applicable federal, state and local laws, ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occupancv. The property shal1 be conveyed to the eRA at time of closing unoccupied. The SELLER hereby wanants 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 Purchase Price. The eRA and SELLERS agree that this Agreement is contingent upon the Purchase Price being verified by an independent residential appraisal to be conducted by a mutually agreed npon appraiser at the CRA's expense. If the Purchase Price exceeds the appraised value, the CRA 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 shal1 execute and deliver, or cause to be executed and delivered, to CRA the following documents and instruments: T:\DEVELOPMENT\HOB\!\1LK Con-idor\Phase I Properties\Marshall'4helma\Marshall PA,doc PURCHASE AGREEMENT Page 5 of 12 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 oftitIe 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 Imowledge, no individual or entity has any claim against the PIeper!} \lndc! tI10 llflpliefrBle eel1.GlruetioB lisB law; Iffia that th@r-<l ar@ no parties ill. 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 Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as 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. CRA 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 CRA. 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 CRA. If the improvement has been substantially completed as of the Effective Date, any pending lien shall be considered certified, confirmed or ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. 10.3. Closing Costs. SELLER shall pay for all documentary stamps on the T:\DEVELOPMENT\HOB\MLK Corridor\Phase I Properties\Marshall, 5he1ma\Marshall PA.doc PURCHASE AGREEMENT Page 6 of 12 deed, recording the deed and half of all general dosing expenses (settlement fee, courier fees, overnight package, etc.). All other costs of closing shall be home by eRA. 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) disb~isG th~ sale proceeds to SELLER; (ii) doliver the Glooing.Documel1t' "pel 0 "morkeel'"r" ... 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 Clusing, 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. II. REPRESENT A TrONS, COVENANTS AND WARRANTIES. I l.J SELLER'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. Authority. The execution and delivery oIthis Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER. and this Agreement represents a valid and binding obligation of SELLER. 11.3. 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 ] 2.3 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 eRA 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. CRA and SELLER acknowledge that if eRA defaults, SELLER sole remedy shall be retention of the deposit. eRA and SELLER agree that this is a hona fide liquidated damages provision and not a penalty or forfeiture provision. 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 T:\DEVELOPMENT\HOB\MLK Corridor\Phase I Properties\Marshall, (5helroa\Marsball P A.doc PURCHASE AGREEMENT Page 7 of 12 untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement, CRA may, at its option: (1) declare SELLER' in default under this Agreement by notice delivered to SELLER, in which event CRA may terminate this Agreement and demand that the Deposit be returned, including aH interest thereon if any, in accordance with Section 3 and neither Party shaH 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 shaH 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 shaH 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 shaH only be three (3) Business Days from the delivery of notice. Both parties agree that if an extension is requested, such extension shaH not be umeasonably withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this Section 12 shaH survive the termination of this Agreement. 13. NOTICES. All notices required in this Agreement must be in writing and shaH be considered delivered when received by certified mail, return receipt requested, or personal delivery to the foHowing addresses: If to SELLER: If to 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 With a copy to: James Cheroff CRA Attorney 76 NE 5th Avenue Delray Beach, FL 33483 14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this Agreement are hereby made binding on, and shaH inure to the benefit of, the successors and permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall 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 T:\DEVELOPMENT\HOB\MLK Corridor\Phase I Properties\Marshall, 1he1ma\M:arshall PA.doc PURCHASE AGREEMENT Page 8 of 12 without the prior written approval of SELLER, which shall not umeasonably withheld. If ('R i\ has been dissolved as an enti1y while this Agreement and! or the attached Lease Af"rreement arc 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 "'ith a real estate broker in c.)nnert;on wit], t],P 1T"n,"c1ion contemplat~J:his.Ag=menL. 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 allegeu 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. lb. Environmental Conditions. 16.1. For purposes of this Agreement, poItutant ("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 nr 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 Proper1y 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 PoJ1utant 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 liabili1y or fonn 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. 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: T:\DEVELOPMENT\HOB\MLK Corridor\Phase I Properties\Marshall, 3helma\Ivlarshall PA.dar PURCHASE AGREEMENT Page 9 of 12 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. 1 6 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 (10) 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, ifany. 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 eRA, 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. T:\DEVELOPMENT\HOB\MLK Corridor\Phase I Properties\Marshall, ~elma\MarshalI PA.doc PURCHASE AlWEEMFNl Page 10 of 1 2 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 shaH not be considered in constnling thi~ A~greemeIlt FeferE'l)rF' to-~ ~prtlnn "n::l11 np. ilp'p;meiLtll..he...arefeTel1C:~ t().Jh.e..Jmtit~____ 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 tbe 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 shaH be in the Fifteenth Jndicial Circuit in and for Palm Beach County, Florida, or, shonld 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. Comoutation ofTim~. Any reference herein to time periods which are not measured in Bnsiness 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 shal1 extend to 5:00 p.m. on the next ful1 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 acceptanc.e 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 shal1 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 provisiou to other persons, entities or circumstances shall be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The provisions ofthis Section shall apply to any amendment of this Agreement. T:\DEVELOP:MENT\HOB\MLK Corridor\Phase I Properties\Marshal1{~elma\Marshal1 PA.doc 01/14/2008 15'06 FAX I4i 002/002 " ::- . ~ PURCHASE AGREEMENT Page 11 of 12 17.6 Ha1l.dwritten Provisions. Handwritten provisions inserted in this Agreement and initialed by eRA and SELLER shall control all printed provisions in conflict therewith. 17.7 Waiver of Juty Trial. As an inducement to eRA agreeing to enter into this Agreement, CRA and SELLER hereby waive trial by iuxy in any action or proceeding brought by either llarty against the athet patty pertaining to any matter wha'lsoevot arising out of or in any way connected with this Agreement 17.8. Attornevs Fees and Cosl>!. Should it be necessary to bring an action to enforce any of the provisions of this Agreement, reasonable attomeys' fees and costs, including those at the appellate level, shall be awarded to the prevailingpatty. , . 17.9 Bindin~ Authoritv. 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 RecordinS!. This Agreement may be recorded in the Public Records of Palm Beach Connly, Florida. 17.11 Survival, The covenants, watrllIlties, representations, indemnities and undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and recording of me 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 re5ponsible 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. BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY SELLER vgJ6 ~~d/:-Pe!/ Print Name: Thelma Marshall, a single woman By: Print Name: Jerry Taylor Title: Chair Witnesses: Witnesses: _ t-I' .... -, .___......~ '... 1!'I1!Il~"'.~'" -,. il i T:\OEveLOPME:'i1\HOB\MLK Corrldor\PhB:!ic I Propertics\MatWII.f1lwlttla\Marsh,a11 PA.doc: I ~ '"'I",.....~,_ ,'~'w WASfllNGTON MIJ1UAI.IWI, ~ WIIITER PARK . ALOMA Fe #1704 1870Al.!lMA AVE, SUITE 100 WINmI PARK, FI. 32789 .,i .,,,.,~- ."'- ) } Benefits of Purchase Allows for Flexibility in Redevelopment of MLK Corridor Willing Seller at Appraised Value $105,450 Vacant Land Adjacent to CRA/City Land ~ Redevelopment Potential '---~" ~.o ~--:~ :fl"r:-i rfr:il 'I 1 ~.f:_: I r~ 51;r...... ~:t y ., - ,tit 1:! t1 :J' .~ ~ 1 . 'f:. ~ ~. n" I "- I y~t,' I .."~.f 's. r. .i:t'r:"" t;: ~.',;".r. .~'5...,:€ .~.. :;. if.' ..,t"" '1. . ..:.. l; l .... ~ -,' thO r--:t: '~~.'- -: . -' '" '. '':: .r'? ~ f. . ~..,~ -. r... ~.~: ~ .n ~ . ~, , - -'~~"'. i . . . . '" ~~ ( : - Lt.:, I ~'.. . ' 'IIl.' , L '.. ' ~.. .. j. ',' t ~.c .. " ~ . .~~ . .... .' .' ~-i. ....~. .. ~ "~~:s.'" - '\.. . ",. 1 -:~ \- fI~"~~". -~.'~ ,~," I .. I"~~~,, .'~" ". '.;:;:. ...._ ~...... .;z.. ~~. . ....-...J"... . . - ..~.- ";"'" . ~ - ,- r:::: " .r~r\ ;;\(e~l iJ ~'~.~ . ,. 'I i . .. "~..1 ... ...' .:a,,, L~ . ~ . _ '. ." .' ~ '-,- I \" _ ~~ n-_ '\ orr'. - - . ~ - .. . '. ~-~- ~~'C~~' c.~. . t ~."'."-. ..t: . lI, ... ~ ~t ..... f " "B' /.~. 1 i _l ",....11 j tiL J'~' ~,... ~ ~ ~..,. "~.' .\ .,"",..,...:~ -- ,. , .. ~ ~... ."" .1 L; -" '~:;'"t~ . '. ):,',r-, _ '{\., I ~. .M~ ~.~ '~. 'f '~,~~~~ ..-' ~\}J" :' I ....-. t;.Ac " wy+.~,:-'1J':';A -';':', \ I 0. ~ f't .......... .., ''''. .' 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Consideration of Entering into a Purchase Agreement for a Vacant Lot Located at 124 NW 11th Avenue in the Amount of $45,000.00 with Estella Jones lI.!~flY~Te~ eRA Ii East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: September8,2009 I \ Consent Agenda I I Old Business I X I New Business Legal Other SUBJECT: Consideration of Purchase Agreement for Vacant Lot located at 124 NW 11th Avenue SUMMARY: CRA staff has been presented the opportunity to purchase the vacant lot located at 124 NW 11th Avenue within the Heart of Boynton neighborhood. The property is located within close proximity to several vacant parcels currently owned by the City of Boynton Beach and the CRA. The property is approximately 7,500 sq. ft. in size and zoned R2 (residential mediwn density). The parcel was appraised by Jenkins Appraisal on June 8, 2009, for a fair market value of $45,000.00. The owner of the property, Ms. Estella Jenkins, has agreed to sell the lot to the CRA for the appraised value. FISCAL IMPACT: $45,000 from the MLK Redevelopment line item. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Approval of the Purchase Agreement in the amount of $45,000.00 with Estella Jones for the property located at 124 NW 11th Avenue. -~ "..~ -: "- ''l1;:(;~ '~ Michael Simon Development Manager T-\AGENDAS, CONSENT AGENDAS, MONTH!.. Y REPORTS\Completed Agenda Item Request Forms by Meeling\FY 2008 - 2009 Board Meetlngs\9--8-09 Meeting\Lot Purchase-124 NW 11 th Aile-Estella Jones doc l u J . , '-/ PURCHASE AGREEMENT Page 1 of12 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 III, of the Florida Statutes (hereinafter "CRA") and Estella Jones, a single woman (hereinafter "SELLER"). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALEIPROPERTY. 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 follows and is subject to verification by a survey: Legal Description: Laneharts subdivision, East 50 feet of West 456.03 feet of Lot 7 of Laneharts subdivision of South lf2 of NE 1/4, according to Plat thereof, as recorded in Plat Book 9185, Page 516, of the Public Records of Palm Beach County, Florida Parcel Number: 08-43-45-21-19-000-0130 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Forty Five Thousand and 00/100 ($45,000.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Money Deposit. Within five (5) Business Days after the Effective Date, Purchaser shall deliver to Goren, Cherof, Doody & Ezral, P.A.("Escrow Agent") a deposit in the amount of Five Thousand Dollars ($5,000.00) Dollars (the "Deposit"). 3.2 Application/Disbursement of Deposit. The Deposit shall be applied and disbursed as follows: The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. 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. T:\DEVELOPMENT\HOB\MLK Corridor\Contracts for MLK-HOB ar1a Properties\Estella Jones-124 NW 11 th Avenue\Estella Jones Purchase Agrrnnt unexecuted 8-25-09.doc PURCHASE AGREEMEN'] hl~L.2 of 12 3,3 Escrow Agent. CRA and SELLER authorize Escrow Agent to receive, deposit and hold funds in escrow and, subjecT \1' clearance, disburse them upon proper authorization and in accordance with Florida law and the tel111S 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 ESCfllW 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 trom 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 September 9, 2009, at the CRA's option, this ofTer 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 the last one of the CRA and SELLER has signed or initialed this offer or the tinal counteroffer. 5, CLOSING, The purchase and sale transaction contemplated herein shall close on or before October 29, 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 from the Effective Date until 5pm on October l5, 2009 ("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 physical tests, inspections, and investigations of the Property, including but not limited to Phase I and Phase II investigations, which CRA may deem necessary, During this Feasibility Period, eRA may dect, in CRA's sole and absolute discretion, to terminate this contract and receive back all Deposits hereunder. If CRA 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 hy eRA's testing T:\DEVELOPMENT\HOB\MLK CorridN\Contracts for MLK~l-l()B areJl Properties\Estel1a Jones~124 NW 11Th Avenue\Eslella Jones Purchase Agrmnt unexecuted 8-25-09.doc ~ PURCHASE AGREEMENT Page 3 of 12 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 ofthis 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 CRA 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, CRA shall have the right to cause the Title Company to issue an updated Title Commitment ("Title Update") covering the Property. If any Title Update contains any conditions which did not appear in the Title Commitment, and such items render title unmarketable, 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 T:\DEVELOP!vfENT\HOB\MLK Corridor\Contracts for :MLK-HOB ar91 Properties\Estella Jones-124 NW 11th Avenue\EsteIla Jones Purchase Agnnnt unexecuted 8-25-09.doc PURCHASIc ACiRLFMFNi rage 4 (It arising from the Title Update shall be the same as objectIOns 1.<1 nems appearing in the Title Commitment. subject to the provisions ofthis Section. 7 . Survev Review. CRA, at CRA's expense. may obtain a current boundary survey (the "Survey") of the Property, indicating the number ot acres comprising the Property to the nearest 1I100th 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 by CRA Board. The Purchase Agreement is contingent upon the approval and authorization by the CRA Board. 8.2. Condition of Propertv. The physical condition of the Property shall be the same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. 8.3. Pending Proceedings. At Closing, there shall be no litigation or administrative agency or other governmental proceeding of any kind whatsoever. pending or threatened, which has not been disclosed, prior to closing, and accepted by CRA. 8.4. Compliance with Laws and Regulations. The Property shall be in compliance with all applicable federal, state and local laws. ordinances, rules, regulations, codes, requirements, licenses, permits and authorizations as of the date of Closing. 8.5. Occupancv. 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 Purchase Price. The CRA and SELLERS agree that this Agreement is contingent upon the Purchase Price being verified by an independent residential appraisal to be conducted by a mutually agreed upon appraiser at the CRA' s expense. I f the Purchase Price exceeds the appraised value, the CRA shall have the right to temJinate 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 T'\DEVELOPMENT\HOB\MLK Corridor\Contract!'i for MLK.HOB arl!:fi Propertie:;\Este1\a ]nnes-124 NW llth Avenue\Estella Jones Purchase Agnnnt unexecuted g.25-09,doc PURCHASE AGREEMENT Page 5 ofl2 delivered, 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 Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 9.5. Additional Documents. Such other documents as 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. CRA 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 CRA. 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 CRA. 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. T:\DEVELOPMENT\HOB\MLK Corridor\Contracts for MLK-HOB arsa Properties\Estella Jones-124 NW 11th Avenue\Estella Jones Purchase Agnnnt unexecuted 8-25-Q9,doc PURCHASE AGREEMENI l'agc 6 of 12 ] 0.3. Closing Costs. SELLER shall pay for all documentary stamps on lIl' deed, recording the deed and half of all general closing expenses (settlement fee, courier ire, overnight package, etc.). All other costs of closing shall be borne by CRA. 10.4 Closing Procedure. eRA shall fund the Purchase Price subject to lhe credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shaH 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 Mortgal].es 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 AN]) WARRANTIES. 11.1 SELLER's Representations and Warranties. SELLER hereby represents, covenants and warrants to CRA, as ofthe Effective Date and as ofthe Closing Date, as follows: 11.2. Authority. The execution and delivery of this Agreement by SELLER and the consummation by SELLER of the transaction contemplated by this Agreement are within SELLER'S capacity and all requisite action has been taken to make this Agreement valid and binding on SELLER in accordance with its terms. The person executing this Agreement on behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this Agreement represents a valid and binding obligation of SELLER. I 1.3. 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. ] 2.1. Purchaser's Default. In the event that this transaction fails to clos~ 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, ~xcept 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. T:\DEVELOPMENT\HOB\MLK Comdor\Contracts for MLK-HOB are Properties\Estella J(lnes~124 NW 11th Avenue\Estclla Jones Purchase Agrmnt unexecuted g~25-09,doc 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, CRA may, at its option: (1) declare SELLER' in default under this Agreement by notice delivered to SELLER, in which event CRA 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 ofthe notice during which to cure the default, provided, however, that as to a failure to close, the cure period shall only be three (3) Business Days from the delivery of notice. Both parties agree that if an extension is requested, such extension shall not be unreasonably withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party may exercise the remedies described above. 12.4. Survival. The provisions of this Section 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: Estella Jones 1015 NW 3rd Street Boynton Beach, FL 33435 If to 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 With a copy to: James Cheroff CRA Attorney 76 NE 5th Avenue Delray 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 prior written consent of CRA, which shall not be unreasonably withheld. CRA shall T:\DEVELOPMENT\HOB\MLK Corridor\Contracts for J\.1LK-HOB arf'/l Properties\EsteJla Jones.124 NW 11th Avenue\EstelJa Jones Purchase Agnnnt unexecuted 8-25-09,doc PURCHASE AGREEMENCj Page 8 of 12 have the right to assign this Agreement to the City of Boynton Beach (the "City'C I witl10ut tnl prior consent of SELLER and the C'RA shall be released from any further obligations aJ1l' liabilities under this Agreement The eRA may not assign this Agreement to any other pan, without the prior written approval of SELLER, which shall not unreasonably withheldc If CK"_ has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are m eifect, the provisions of section 163c 157(1 ), Florida Statutes. (as it may be amended from time I,' time), shall apply. 15. BROKER FEES. The SELLER and BUYER hereby states that they !lave nut 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 hannless 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 ("EnvirolUllentaJ Laws") shall mean any applicable federal. state, or local laws, statutes, ordinances, rules, regulations or other govenullental restrictions. 16.1.1 As a material inducement to CRA entering into this Agreement, SELLER hereby warrants and represents the following, as applicable: (l) That SELLER and occupants of the Property have obtained and are in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or contiguous property owned by SELLER, to the best of SELLER' 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) Then:~ 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. T:\DEVELOPrvrENT\HOB\MLK Corridor\Contracts for MLK.HOB artf Properties\Estella Jones-124 NW 11th Avcnue\EsteHa Jones Purchase Agrmnt unexecuted 8-25-09.doc PURCHASE AGREEMENT Page 9 of! 2 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 (l0) 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, ifany. 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. T:\DEVELOPMENT\HOB\MLK Corridor\Contracts for MLK-HOB ar9 Properties\Estella Jones-124 NW 11th Avenue\Estella Jones Purchase Agrmnt unexecuted 8-25-09,doc PtIRCHASt. ACiREFMENT Pa1!t' ]() \1; ,- , . MISCELLANEOUS. 17. I . General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed 10 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 onl\ 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 Iudicial 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 (0 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 (0 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 tlus 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 shalJ 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 T'\DEVELOPMENT\HOB\MLK Corridor\Contracts for MLK~HOB RftI)properties\Estella Jon(;5-124 NW 11th Avenue\Estella Jones Purchase Agrmnt unexecuted 8-25-09.doc PURCHASE AGREEMENT Page 11 of12 17.6 Handwritten Provisions. Handwritten provisions inserted in this Agreemem and initialed by CRA and SELLER shall control all printed provisions in conflict therewith. 17.7 Waiver of Jury 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 Bindin~ Authoritv. 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 Wldertakings 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 Attorneys' Fees and Costs. SELLER acknowledges and agrees that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by SELLER in connection with the transaction contemplated by this Agreement. date. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY SELLER By: Print Name: Jerry Taylor, CRA Chair Date: Witnesses: rint Name: Estella Jo , a single woman Date: (J.AA;J~ -1.5-: 2.c>a '? / ' Witnesses:~~;;:r~ T:\DEVELOPMENT\HOB\MLK Corridor\Contracts for MLK-HOB 8ft Properties\Estella Jones-124 NW 11th Avenue\Estella Jones Purchase Agnnnt unexecuted 8-25-09.doc XII. NEW BUSINESS: ~. Consideration of Entering into a Purchase Agreement with Johnny & Betty Roberts for Property and Business Assets Located at 1002 MLK Blvd. in the Amount of $345,000.00 I/'~" I' II~qY~T8~C . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: September 8, 2009 New Business Legal Other I I Consent Agenda I I Old Bnsiness I X " SUBJECT: Consideration of Entering into a Purchase Agreement with Johnny & Betty Roberts for Property and Business Assets located at 1002 MLK Blvd. in the amount of $345,000 SUMMARY: The overarching goal desired by the Community Committee was to improve the quality of life in the Heart of Boynton community in order to encourage new residents and businesses to locate in the area. One thing the Committee members felt strongly about was to acquire businesses or properties that were contributing to the negative image of the area. Staff has been in negotiations with owners of several of the businesses in the HOB area that the Committee felt should be purchased. However, the owners of EZ Mart would not provide access to their financial records to help ascertain a value of the business. Therefore, the price being asked for the property and business could not be verified. . Staff has been in negotiation with the owners of Betty' s Place located at 1002 MLK Blvd. (see attached map) on the SE comer of Seacrest and MLK Blvd. for over three months. . An appraisal of the real property was conducted yielding a value of $250,000. (See attached real property appraisal. ) . A valuation of the business and assets was also conducted with the cooperation of the owners. . The value of the business and assets is $95,000. (See attached business assets valuation.) . Total value is $345,000 . The owners agree to sell for $345,000 (See attached Purchase Agreement). FISCAL IMP ACT: $345,000 plus customary closing costs from HOB funds. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS: Approve entering into a purchase agreement with Johnny and Betty Roberts for real property and business assets located at 1002 MLK Blvd. in the amount of $345,000. --t!k.!~ Assistant Director T:\AGENDAS, CONSENT AGENDAS. MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2008 - 2009 Board Meetings\9-8-09 Meeting\Roberts Purchase.doc Brooks, Vivian From: Haas. Thomas Sent: Tuesday, September 01 200~ 11 4" Ai.' To: Brooks. Vivian Subject: RE. CRA Crime Report Attachments: Image001 png Since 01/01/04 to 08/31/09 there have been 523 calls ror service 134 people were arrested The print out of all the calls for service will be at the front desk Thank. .",. ""-p')' , ~.I .~.,V Detective Thomas Haas Boynton Beach Police Department Domestic Preparedness/Criminal Intelligencl' 561.742.6196 office From: Brooks, Vivian Sent: Tuesday, September 01,2009 11:33 AM To: Haas, Thomas Cc: DeGiulio, Joseph; Bright, Lisa; Simon, Michael Subject: RE: CRA Crime Report Thank you Detective Haas. I left you a message Ie the crime stats at 1002 MLK (Roberts) Can you pull the stats for the last 5 years for arrests, calls for service and crime repolts? I would like to Include this In the Sept 8th CRA Board agenda as the purchase of this property by the CRA is on that agenda Your help is greatly appreciated Thanks. Vivian L. Brooks Assistant Director Boynton Beach CRA 915 S. Federal Highway Boynton Beach, FL 33435 561-737 -3256 brooksvi@bbfLus "Energy and Persistence Alter All Things." Benjamin Franklin From: Haas, Thomas Sent: Tuesday, September 01,200911:31 AM To: Immler, Matt; Harris, Kelly; DeGiulio, Joseph Cc: Utterback, Theresa; Brooks, Vivian; Cassa, Shirley Subject: CRA Crime Report .;", ~\', '11/! :', 'J:, '/ '..0';/ Detective Thomas Haas Boynton Beach Police Department Domestic Preparedness/CriminallnteJligcnce 561.742.6196 office 0/1 nooo , I ~ III , ~ ..... ,~ ~ ~ ... ~ ~ APPRAISAL OF A ],044 SQUARE FOOT SINGLE TENANT RESTAURANT/CONVENIENCE STORE LOCATED AT ]010 NORTH SEACREST BOULEVARD BOYNTON BEACH, FLORIDA 33435 FOR BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY BY ROBERT B. BANTING, MAl, SRA STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ4 AND WAYNE B. LEWIS STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ2452 WITH ANDERSON & CARR, INt'. 521 SOUTH OLIVE AVENUE WEST PALM BEACH, FLORIDA 33401 DATE OF VALliE: JUNE 30,2009 DATE OF REPORT: JULY ]0, 2009 FILE NO.: 290188.000 ROBERT 13, 8ANTrNG. MAl, SRA, PRESIDENT State.Certified General Real Estate Appraiser RZ4 FRANK 1. CARDO, MAl, VICE PRESIDENT Stllte-Certrfied General Rel1l Eslate Appraiser RZI 190 ~()f:l?'()~ & CtU2[?~ .,...c. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< ~J7l'raisers .Jlealto~, >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 52] SOUTH OLIVE A VENUL WEST PALM BEACH, FLORIDA 3341.1 www.andersoncarr,conJ Telephone (561) 833.1661 Fax(561) 833-()23A July 10, 2009 Qjali!,' ,J3emce riJi/lce 1947 Michael Simon Development Manager Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 RE: Appraisal of a single tenant commercial building located at 1010 North Seacrest Boulevard, Boynton Beach, Florida Dear Mr. Simon: Pursuant to your request, we have personally appraised the subject property, which consists of a single tenant, owner occupied restaurant/convenience store. The building contains 1,044 square feet of gross enclosed (rentable) building area, The subject is located in Boynton Beach on the southeast corner North Seacrest Boulevard and Martin Luther King Boulevard, It is eight blocks north of Boynton Beach Boulevard and south of Gateway Boulevard, The subject site contains approximately 8,686 square feet, or 0.20 acres. The property address is 1010 North Seacrest Boulevard, Boynton Beach, Florida 33435, The building was built in 1985 and is in generally average condition for its age. The Palm Beach County Property Appraiser's web site indicates a site size of 9,000 square feet which is the product of the maximum depth of 120 feet times the maximum width of 75 feet. This size indication does not account for area lost at the mitered (intersection) corner and appears to be incorrect. We have relied on a site size of 8,686 square feet as reported by RealQuest ProfessionaL Should a future survey indicate a substantially different site size we reserve the right to amend this report accordingly, The subject has good visibility and exposure and good access from Martin Luther King Boulevard. There are eight standard and one handicapped parking spaces to the north of the building. 11 A~l)f'l)~( I~ "'- CAtJIJ. I~t. I I MIchael ~lnlol Bovnton Beach Community Redevelopment Agenc .lull' Hi. 2110' The purpose of this assignment is to estimate as is market \ altle leL" SIlUrk "As Is" vaiue as of June 30. 2009, the date of inspection. As a resull of our analysis, we have developed an opinIon 1I1al !lIe market value subject to the definitions, certifications. and limiting conditions set forth in the attached report, as of June 30. 2009 is: TWO HUNDRED FIFfY THOUSAND DOLLARS ($250,000 ) The value estimate assumes an exposure time of six to twelve months. The following presents a summary appraisal report. This letter must remain attached to the report, which contains 73 pages plus related exhihits. in order for the value opinion set forth to be considered valid. Respectfully submitted, ANDERSON & CARR, INC. [Jigit~Uy Signed by Robe!t H BanUng,MAISRA DN'm~Robe'tB_BantinQ,MAI SRA,o,ou. email-,bant!ng@andersnncd" com,C"US 0Me:2'JOQ(1),10!.1:43:S,-,-(l4'()i' Robert B. Banting, MAl, SRA State-Certified General Real Estate Appraiser RZ4 Digilally signed by Wayne B I lewls II),' . 1-;' ,-,-' ,'., DN:cn=WaYlJe B. LewI5,u,OU, ('(~)~1f. -'"~ ,'..C,-,,,.V email=wlewis@andersoncarr (om,c:US Date:2009.07.iO 13A~:13 .tJ400' Wayne B. Lewis State-Certified General Real Estate Appraiser RZ2452 RBB(WBL:cmp II _.1 A/lIlU('VSOO/ '" {;AI!V. ./lIl{;. . TABLE OF CONTENTS Summary Of Important Facts And Conclusions..................................................................1 Certification ............................................................................................................................ 3 Assumptions And Limiting Conditions ................................................................................4 Subject Property Photos.......... ...............................................................................................8 Four Leased Pinball Machines ............................................................................................14 Aerial Photographs..................................................................................... ......................... .15 Plat Maps .............................. .................. ......... .... ........ .................. .... ..... ................ ...............16 Location Map ....................... .......... .................. .... ..' ......... ......... ................................. ...........17 Purpose And Date Of Appraisal.........................................................................................18 Property Appraised ............................................................................................ ............... ...18 Legal Description (Per Deed, Or Book 04171, Page 0241) ..............................................18 Intended Use And User ... ..................................... ........................... ....................................19 Clien t......... ............ ................................................................................................................ .19 Definition Of Market Value ........... ......... ...................................... ........ .................. ......... ...20 Property Rights Appraised ............... .............................. ..... ............ ....... .............................21 Personal Property, Furniture, Fixtures And Equipment...................................................21 Typical Buyer Profile .......................................................................................................... ..21 Scope Of Assignment ........... ............................................................ ....................................22 Palm Beach County Data ............... ...... ............ .............. .... ..... ............. ................................23 Taxpayer Of Record................................ .......................................................................33 Parcel Control Numbers ..................... ....... ......................................................... ...........33 Census Tract.... ..................................................................................................... ..........33 Flood Zone Data .......................... ............ ....... .............. ......................... ........... .............34 Assessmen t And Taxes............................ ...................................................................... 35 Zoning And Future Land Use ......................................................................................35 Utilities........................................................................................................................ ....35 Concurrency ...... ............................................................................................................ ..36 Subject Property Sales History ................ ............................. ............ ........ ........ ......... ....36 Si te Analysis..................... ...............................................................................................3 7 Description Of The Improvements .................................. ............. ...............................39 Highest And Best Use ............................~.. ....................................................... ....................41 Exposure Time/Marketing Time ..... ....................................................................................43 The Valuation Process .......... .... ........................................................................................... 44 Income Capitalization Approach ..... ...................................... ........ ...................... ...............45 Sales Comparison Approach ........ .................... ................... .............................. ................. .56 Correlation And Final Value Opinion .........................................................................73 Qualifications for Robert B. Banting, MAl, SRA State-Certified General R.E. Appraiser RZ4 Qualifications for Wayne B. Lewis State-Certified General R.E. Appraiser RZ2452 Addendum: Engagement Letter "'~[)I:l2~()~ <~ ~~i)l. fi'o!( SUMMARY OF IMPORTANT FACTS AND CONCLliSIONS Client: Michael Simun. LJevel('!JJIlci Manager, Boynton Beach ( OlTl1l1unJi Redevelopment Agenc\ Ownership Johnny L,c,,, & Betty J Rohn, Property Rights Appraised: Fee Simple Fstate Special Assumptions Reference: See Assumptions Rud Limiting ( 'ondition, Location: The site IS located on the southcast corner of North Seaerest Boulevard and Marlin Luther King Boulevard, in Boynton Beach. The property address " 10 10 North Seacrest Buulevard. Boynton Beaeh. FI B43.'i Site/Land Area: k,M\6 squart' feel. ur 1I.211 acres (pn Palm Beach County Property Appraisers data) Building Size: J J144 gross enclosed square feet FAR: 0.1211 Hazardous Waste Conditions: None observed. See Assumptions and Limitin!! Conditions Nnmber 12. Zoning: ('2 - Neighborhood Commercial. by Boynton Beach ____ ~__________._~__"J A""()~l!~()"" '" CAl!(:). .""<=-. Land Use Plar. Flood Zone & Map Reference: Improvements: Year Built Size Current Use: Highest and Best Use: Marketing Time: Value Conclusions: Value Via Cost Approach Value Via Income Approach Value Via Sales Comparison Approach Final Value Conclusion Date of Value: Date of Report: Appraisers: 2 Local Retail Commercial by Boynton Beach Zone C, #120196-0004C revised September 30, 19t;: 1985 1,044 square feet Owner occupied commercial building Commercial Six months to one year N/A $250,000 $250,000 $250,000 June 30, 2009 July 10, 2009 Robert B, Banting, MAl, SRA State-Certified General Real Estate Appraiser RZ4 Wayne B. Lewis State-Certified General Real Estate Appraiser RZ2452 ~"'In['\{ 1"'1 ,\; (,Aljl!. 1"'1(. CERTIFICATION ; certify that to the hest of my knowkdge and be-lie! Tilt' statements uf fact contained in thi", report afC true ilnu u IT: Tile reported analyses, opinions, and conclusions art' lilllltL:li ()!ll\ I): till' [('purred assumptin!l:'-. and limiting conditions, and an.' my peI~()nal. impartial. :tflli l!nhi;i:-;t'd professional analYSt:", opini(H1s, conclusions, and rccommendati<lOs, I have no present or prospective interest in the property that 1:-' the suhject of this report. anLl J have no personal interest with respect to the parties involved. 1 have no bias with respect to any property that is the suhject oj thi~ rqlort OJ III the parlie:-: involved with this assignment. My engagement in this assignmL'111 was lln! contingent UJlOIl developing or reponing predetermined result~. My compensation for cumpleting thi", assignment is not contingent upon the developmenl or reporting of a predetermined value or direction in value that favors the cause of the clienL the amount of the value opinion, the attainment uf a stipulated rt'~uIL or the occurrence of d suhsequent event directly related to the intended use of this appraisal. The reported analyses, opinion~, and conclusions were uL'vcloped, and this reporl has heen prepared, in conformity with the requirements of the ('ode uf Professional Ethics & Standards of Professional Appraisal Practice of the Apprabal InstitlltL:. which lllClu(k thl' {lnifnrm Standards of Professional Appraisal Practice The use of this report is subject to the requircITIt:nts of the Apprai,'ial Institute rc.lating t<) review by its duly authorized representatives, Rohert B. Banting MAl, SRA and \Vayne R. Lt\vis Ilave m<-ldc {l per~()nal inspection 01 the property that is the subject of this report. No one provided significant real property appraisal or apprai;-;al consulting assistance 10 tht person signing this certification. A", of the date of this reporL Robert B. Banting MAL SRA ha5 completed thL c()ntinLLin~ education program of the Appraisal Institutt This appraisal was not made, nor was the appraisal rendered un the hasis uf J rcyue,<-:ted minimum valuation, spt:cific valuation, or an amount which would result in approval of a II Hm_ """";,,',,,",,, .'" ",-v..,"," "." ,m.h"""""'"",e,' "o,',,<_uo '''<"'0000,',"'-'.1.3 0'0" Robert B. Banting. MAl, SRA State-Certified General Real Estate Appraiser RZ4 \\!aync B. Lewis Slate-Certific,d Ci-eneral RCed Estate Appraiser RZ245~ :; A/loj()(,ll\()/loj ~ CAllll. INC. ASSUMPTIONS AND LIMITING CONDITIONS 1. Unless otherwise stated, the value appearing in this appraisal represents our opinion of the market value or the value defined AS OF THE DATE SPECIFIED. Values of real estate are affected by national and local economic conditions and consequently will vary with future changes in such conditions. 2. Possession of this report or any copy thereof does not carry with it the right of publication nor may it be used for other than its intended use. The physical report(s) remains the property of the appraiser for the use of the client. The fee being 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 finn of Anderson & Carr, Inc. and then only in its entirety. 3. Neither all nor any part of the contents of this report shall be conveyed to the puhlic through advertising, public relations efforts, news, sales or other media without written consent and approval of an officer of Anderson & Carr, Inc. nor may any reference be made in such public communication to the Appraisal Institute or the MAl, SRA or SRP A designations. 4. The appraiser may not divulge the material contents of the report, analytical findings or conclusions, or give a copy of the report to anyone other than the client or his designee, as specified in writing except as may be required by the Appraisal Institute, as they may request in confidence for ethics enforcement or by a court of law or body with the power of subpoena. 5. Liability of Anderson & Carr, Inc. and its employees is limited to the fee collected for the appraisal. There is no accountability or liability to any third party. 6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil or structures which make it more or less valuable. The appraiser assumes no responsibility for such conditions or the engineering which might be required to discover these facts. 7. This appraisal is to be used only in its entirety. All conclusions and opinions concerning the analysis which are set forth in the report were prepared by the appraisers whose signatures appear on the appraisal report. No change of any item in the report shall be made by anyone other than the appraiser and the appraiser and finn shall have no responsibility if any such unauthorized change is made. 4 ,i.~UI::I~\()~ ,\. L~lJl!. I~C tt No responsibility is assllIncdilll lllallt.T'- !l',~;d 1Il character (lI' nature. no! matters of survey, nor of any ardlJlectllrrd, structural. mechanical {)r engineering nature, No opinion is rendered a,<-; fl} tIll' til!l' whidl is preslImed to ht' good and merchantable. The property is apJlraj~ed ;'i-.. jf i rl..',--' alld Cle:ll', unless othenvise stated in particular parts of the report. 9, No responsibility is assumed lnl (tel "ural \- I d infurmatiun furnished by ur from others, the clients, his designee or puhl]c records. \Vc arL' nt1t liable for sllch information or the work of subcontractors. The comparahle data relied upon in this report has been confirmed with one or more parties familiar with the transaction OJ from affidavit when possible. All are considered oppmpri;tte for inclusion to the hest of our knowledge and belief. Ill. The contract for appraisal, consultation or analvtie;Jt service is fulfilled and the total fee payable upon completion of the report. The appraiser or those ossisting the preparation of the report will not be asked nr required to give testimony in court pr hearing because of having made the appraisal in full or ill part; nur engaged in POS!- appraisal consultation with client ur third parties, except uncler separate and special arrangement and at an additional fce_ 11. The sketches and maps in this report arc included to assist the reader and arc not necessarily to scale. Various photos, if any, are included for the same purpose and are not intended to represent the property in other than actual status. as of the date of the photos. 12, Unless otherwise stated in this report the existence of hazardous material, which mayor may not be present on the property. was nol observed by the appraiser. The appraiser has no knowledge of the existence nf stich materials on or in the property. The appraiser, however, is not qualified to detect such substances. '/1,e presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no slIch material on ur in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise nr engineering knowledge required to discover them, The client is nrged to retain an expert in this field_ if desirl'tl 13. The distribution of the total valuation of this report hetween land and improvements applies only under the existing program of utilizatiOlL The separate valuations for land and building must not be used in conjunction with any other appraisal, no matter how similar and are invalid if so l1sed ~ A~()~llS()~ & CAllll. I~C. 14. No environmental or impact studies, special market studies or analysis, highest and best use analysis study or feasibility study has been requested or made unless otherwise specified in an agreement for services or in the report. 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 or previous study or analysis, subsequently becoming known to him. 15. The value estimated in this appraisal report is gross without consideration given to any encumbrance, restriction or question of title, unless specifically defined. The estimate of value in the appraisal report is not based in whole or in part upon the race, color or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 16. This appraisal report has been prepared for the exclusive benefit of the client, Boynton Beach Community Redevelopment Agency. It may not be used or relied upon by any other party. Any party who uses or relies upon any information in this report, without the preparer's written consent, does so at his own risk. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of this assignment. 17. The Americans with Disabilities Act (ADA) became effective January 26, 1992. The appraisers have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property, 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 appraisers have no direct evidence relating to this issue, possible non-compliance with the requirements of the ADA in estimating the value of the property has not been considered. 18. This office has not been provided with a soil survey, made specifically for the subject, which would reveal the presence of any adverse soil characteristics, such as muck and or contamination, affecting the market value of the property. Accordingly, this appraisal is subject to a formal soil survey and testing for contamination. 19. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property that would make the property more or less valuable. The appraiser makes no guarantees or warranties, express or implied, regarding the condition of the property. This summary appraisal report is not a building inspection and cannot be relied upon to disclose defects or conditions in the property. The appraiser performs an inspection of visible and accessible areas only. Mold may be present in areas the appraiser cannot see. A professional building inspection or environmental inspection is recommended 6 A~U.~l!S{)~ c\: ',AlJL .....( . ZO, "It IS assumed that there afe no structural defects hidden [1\ IIl,H'! '_ii \\,:i coverings Uf hidden or unapparent conditions of the property; that till lllcchanic;" equipment and applianct~ an:.' ill good working condition; and that :tI i ;.'kctriL'~, components and the roofing art' in good C(mdition. If the client has all.\- lIUt;;StJdll:. regarding these llems. it is the c1ienl's responsibilit)-.' In order till:: appropna!t. inspections. The appraiser aSSlImes ill) resplll1sihility for tht.'.';t' item;;, 21. The Palm Beach County Property Appraiser's weh site indicate, " slle size 01 9,000 square feel which is the product of the maximum depth ()f 120 feel tlIlles the maximum width of 75 feeL Tbi~ si7e indication does not account for area In.:.;! at the mitered (intersection) corner and appears to be incorrect. We have rclied on a .-;itc SilC of 8,686 square feet as reported by RealQuest Professional Should a future survev indicate a substantially different site size Wt: reserve the right 10 amend this rep\ 1ft accordingly. 22. ACCEPTANCE OF. AND/OR USE UF THIS APPRAISAl REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. 7 ~u-=VS()~ & CAVV~ I~C. ~ SUBJECT PROPERTY PHOTOS Subject's north side and front viewing southeast (' Subject's south side and front viewing northeast 8 ('" ~()-=I:>S()~ & CAI:>I:>~ I~C. Rear and side view of subject facing southwest '-, . . " Viewing east along Marting Luther King Boulevard 9 I2S()"" ~ C~I)I)~ ,,...C. ,,~.;'; ~ .~.-I t". Viewing north along r'lorth Seacrest Boulevard 10 A~()-=I:>S()~ & CAVV~ I~C. Three Pitco Prialators Southbend Six Burner gas stove with griddle 11 ..... ~u-=VS()~ & CA~~~ I~C. I Walk In Cooler door ,-... Five door reach in cooler front r 12 A~()-=VS()~ & CA~V~ I~C. Men's room 13 Lady's room ~S(),... ~ C~I2I2'! ,,...C. " Three leased pinball machines Four leased pinball machines 14 A~()-=VS()~ & CAVV~ I~C. AERIAL PHOTOGRAPHS Subject Property 15 A~()r::VS()~ & CAVV~ I~C. (' PLAT MAPS ......J ';:';;;'1 fill / ~~....& "I :.:::.. U", "::;":tt . . . . . "I . . . . . . . ~ . . . ~.' ..' '0' '.' ".' eo ;.;.;.;.;.;.;.::;:;:;: ':;;';j,: r r 0: P .IIfcel:oa.4..':t.45.2~10.005.0010 Situ.:1002 MARTIN LUTHER ~ EiLV~~ ._._c--3l~ . .- Subject Property a ~ o o a 1.0....... ~ 0030 .-. ~ o o N m .."..~.'... ...~ ~. ~:,Ir }~.- "'"' (.'Ill..... 16 A~I)-=VS()~ & CAVV~ I~C. LOCATION MAP ~~. E~ia' !' , ' , :i t: ,4/ I "I uantum Blvd ,...JiL. Motorola ,BO'V "" ,..., " ::> ~ Gateway Blvd : ~.!l <;J OJ ;:) !i ~ ~ ,~ '<:! '<i ""f .. .. i fi.l.tew~ Siva ; NE 20th Ave ~, :\ ,'\ ! ' 4' * Q. ::r 17 bing' ;:) ~ Lake Worth 'g iff ~ o '" Island ~ ;; 'R a ~ (A~'I ~ ~ II> U 0 '!? Q III ~ '" ~ 18 ~ t\ ... ~ ;!;! ~ lula 0 A"-I()I'l!S()"-I & CAl!l!. I"-IC. PURPOSE AND DATE OF APPRAISAL The purpose of this assignment is to estimate the "As-Is" market value, of the fee simple estate as of June 30, 2009, the date of our inspection and photographs. PROPERTY APPRAISED The subject property consists of an owner occupied restaurant/convenience store building containing 1,044 square feet that was constructed in 1985. The subject is located on the southeast comer of North Seacrest Boulevard and Martin Luther King Boulevard. The site is approximately 8 blocks north of Boynton Beach Boulevard and south of Gateway Boulevard in Boynton Beach, Florida. The subject site contains 8,686 square feet, or 0.20 acres. The property address is 1010 North Seacrest Boulevard, Boynton Beach, Florida 33435. LEGAL DESCRIPTION (Per Deed, OR Book 04171, Page 0241) . .. I.r Lots i and 2, Bloe~ 5, ~~tM-)~~H COUNTRY cum EST~TI':,S. oeeor~in9 to the Pl~t thereof on file in the office of',.the','Gitlrk of the Circuit Court jp and for Palm 8l>aCh,tOllnty, Florida, ""corded in Plat"lllij)k'~I, page 43: sald lands situate. lying and being in palm Beach CQUntY1 Florida;\.'also."d~s-cribed as: , ' - ,.~-"., ," 'COMKENCIMG,at aniron,roG at ~~South@Qst corner of Lot e in BlOCK S, PAlM BEACH COIJNTRY"CL\JB ESTATES. accordirlg;'to the Plat lhereof recorded in Plat Book 1\. page 43. of the Public Records of palmB;]Cn, ~unty. Florida. run North 89'59'35" West along , the Southerly lines of said lot ~nd' of Lot 1 in said Block 5 for 0 distance of 100 feet to' an' iron rod at the Sout s:t:cl>rper of said lot 1 and ~ point on the Easterly . rlght-of-....y ,li.o ef ,s..cre.t ROlllii~li4~ .the.ce run North 1"35'35" ~e't along tne "Easterly right-of-way line ofSeaeri!iJ;';Biiulevard and'along the Westerly line of said lot 1 for 'a distance of 120 feet to M H(ln"rod at the ~orthwest corn.r of, said Lot 1: ,thence run S01Jth 89"59'35' East along tl!o"t!or:therly line of said lots 1 and 2 and, along the Southerly right-of-way of HoilfnJ'iaM 10th Avenu" for a distance of 100 feet to an Iron 11)6 at the Nor.the~st ',orner l1!.,.s~itj ,l;qt 2: thence run South 1'35'35" East 'along the E~sterly line of said Lot 2 fa?"", dhtance of 120 reet to the Point of Be- qhming. '\1 -',~ (l./ . ,0",,\ n ,\, .; lESS ANn E~CEPl tnat parcel of land for r9~d'-~\9~t~'f>-WaY purposes' in Sectioh 21, ,Town,hip 45 South. Range 43 East.. Palm Beach c~,nt:Y. Florida, more particularly ')described as fallQ~5-t " I' ,,' , All tlla1; portion of lot 1 and 2, Elock 5, p.lrn aeac~":,Coi'ntry Glub Estates. as r~- corded in Plat Book 11, p~ge 43" Publ ic Records of S~,-Q 'p~1n1 aeach County, F10rlda. lying ~e$t o.f 1.1Ie proposed Easterly .;gM,-of.way \\n~.. ,as"~own on the Ri9M-of-Wlly Mop of Seacrest Blvd,; as recorded in Road Book 5, ~g'~s..'t7,g through lB3, of sa,d Palm Beach County Recot.ds. " /: ",":.-~--;\ -- ------.--'- 18 ~~()f'J)~()~ c\: . 4~U!. I~( , INTENDED USE AND [ISEIi The intended use of this appraisal is to estimate market value for Use p, ','L client, Boynton Beach Community Redevelopment Agency, for lJoI(,IlI,;! acquisition purposes. This report has been prepared utilizing generally accept", appraisal guidelines, techniques and methodologies as contained withm [11< Uniform Standard of Professional Practice (USPAP), as promulgated hv thL Appraisal Foundation. As a State-Certified, Licensed or Registered TrameL Appraiser, the appraisers preparing this report are bound by these standards and regulated by the Florida Real Estate Appraisal Board of the Florida Department of Professional Regulation. This appraisal report has been prepared in a manner believed to be consistent with the guidelines contained in Title XI of the Financial Institution Reform Recovery and Enforcement Act of ]lJ89 (FIRREA). CLIENT Michael Simon Development Manager Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 19 A~()I'I;>~()~ '" CAI;>I;>. I~L 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: (A) Buyer and seller are typically motivated; (B) Buyer and seller are well informed or well advised, and each is acting in what he considers his and/or her own best interest; (C) A reasonable time IS allowed for exposure III the open market; (D) Payment is made in cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (E) The price represents normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. SOURCE: Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ("FIRREA"). 20 AIIo/[lll)\()~ c\, (,~[:JI.). 1110/( . PROPERTY RIGHTS APPRAISED The propertv rights appraised are those of the fee simple c'S['J\, Fee Simple Estate Absolute ownership unencumbered by any other inleresI or cstalt', suhject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and esche'lL SOURCE: The DjcljOI1!1I)' of' Redl E:,'I81c Apprdis'al, Fourth Editioll 2002, by the Appraisal Institute PERSONAL PROPERTY, I?URNITURE, FIXTURES AND EQl1IPMENT This appraised value of the fee simple estate does not include the personal property, furniture, fixtures and equipment (FF&F), if any, necessary for the operation of the intended use of the property, TYPICAL BUYER PROFILE We found that buyers of similar properties in this market tend to be OWllel users, 21 A~[)l'll~()~ & CAllI:? I~C. SCOPE OF ASSIGNMENT The traditional appraisal approaches include the cost approach. the sales comparison approach, and the income capitalization approach. We have considered the sales comparison approach and the income capitalization approach in this assignment, and applied each in our valuation. In the process of gathering data for the sales comparison approach to value, we conducted a search of our appraisal files and public information services such as First American Real Estate Services and CoStar for comparable sales in the relevant market area. We searched for the most similar sales to the subject property. Our sales search included similar commercial buildings that have recently sold throughout Palm Beach County. The sales ultimately selected for further analysis were the best comparable sales we were able to find in this market. We obtained and verified additional information on the comparable properties with a party to the transaction, or a broker or agen t of the parties when possible Rental data was gathered through the use of online services such as MLS, CoStar and Loopnet, field search of the local market and a review of this office's past appraisal files. We inspected the interior and exterior of the subject property and the exterior of the comparables. Physical data pertaining to the subject property was obtained from personal inspection of the interior and exterior, a copy of a survey and public information sources. We make no warranty as to the authenticity and reliability of representations made by those with whom we verified sales, rental and other information. We have taken due care in attempting to verify the data utilized in this analysis. We based our analysis and conclusions on overall patterns rather than on specific representations. This document represents a summary appraisal report. 22 ~~LJI:[J\()~ & (4~[J1j. I~L PALM BEACH COUNTY OAT.' JJ4ri:. ~ I I ~-.".(V,; " ) \ f(.', j, ,.. T I II JY)~H ; .ir~~~;~f':L 4. I ,L ' @199S;Mlcr,l:ls€lft:,COr. .,.AU}I !its r.eser~ed, . --~ , B R'~W iA \ RD , '1 '~j:'""", f_ ; ;-U~ \l, iJU~er " I " \', i " :iH1il \\;<';l-J,P:~~,:,oesaCh 'I (," !l II " 1]1"2 ~11i'<C'\' - ~Ji.," B.ac n411 i '! 1" Pafm'a ~k-"' _. Ifltema,t.n L:_'S' ,'I' :Ail,P-"* ~st Palm [ ",I _ I fach Wellinqtol' 1'(' :1:-14) , r' I """q ,,:1'1 L~t"~~keWorthl in'" I I ,i r I 'f II ~ "'~J ~~on n q" ,,-jl'~~ach ! . U ' ~... ,g." .I,"y B.ach P4i~' :_:,'t. "'9t ,\ ___~, I I I J:I4 III i 33 :3,1 Jd"3'1i I ,:!.~tt:~,'~caRoton II ...,':'.: if eerfield .' -, . each >, -'-;!. .____._1 " .:em,,: r ' , (3347. ' , J 33~:;~ ._", ~'l :-:lI fI ^ I M JHIO ""'-,........ I " 'F' 3]493 441 A I A 'c II FLORIDA ,.. Cr:! ~; =:: l.i.l~ "" Ii': ..' '" "i n Palm Beach County has been noted as a premier !.x-atio\l si\lcL' the first arlll\ fort built in Jupiter in 1838 and Henry Flagler extended his railroad fWIlI northern locales and buill the Breakers Hote) in ] 8%. The county. Incated along Florida's southeastern coast, includes the world famolls Town of Palm Beach on the Atlantic Ocean, The county had a population of 1,13I,lK4 perSOllS in 2000, The estimate for thl' 2007 population is J ,323,572 persons, an increase of 17,0 percent over the 2001J census, The vast majority of the growth has heen a Jesult of in-migration from the north as well as from Dade and Broward Counties t" the south, !\s of tllt' 2005 census estimate Palm Beach County ranked third in population in Florid;" The county encompasses] ,974 square miles with worlel renowned heaches alon~ its entire east coast. 23 A/OlI[)r:lI~()/OlI & CAlIlI. I/OlIC. Tourism is the county's leading industry, employing over 70,000 people and generating about $2 billion dollars annually. The other multi-billion dollar industries have been construction and agriculture. The expanded (1988) Palm Beach International Airport experienced one of its busiest years in 2007 facilitating 1 million flights, an increase of 1.8 percent over 2006. The airports growth has necessitated new direct access overpass interchanges with 1-95 (2004). Tourism and in-migration of retirees are the forces that drive the county's growth. Major private-sector employers include the Hospital Corporation of America, Florida Power & Light, Office Depot, Boca Raton Resort & Club, US Sugar Corporation, Palm Beach Newspapers, and BellSouth, each with over 1,000 employers. However, the largest employer is the Palm Beach County School Board with just over 21,700 employees and a $3.6 billion dollar budget for the 2007-2008 school year. The county has the highest total effective buying power in the state. The climate and recreational opportunities attract wealthy individuals and families. The county boasts forty-seven miles of coastline, along with the Intracoastal Waterway, as well as a bounty of attractions, events, and festivals. With over 140 golf courses, the county is considered the "golf capital of the world." The county includes both unincorporated areas and incorporated municipalities; the largest of which is West Palm Beach, the county seat. Boca Raton, located at the south end of the county is the second largest city, and one of the highest income retail trade areas in the U.S. The town of Palm Beach is one of the wealthiest communities in the country. Palm Beach County had a 2006 real estate tax base of more than 668,686 properties valued at nearly $233 billion, representing a value increase of roughly 29% over 2005 figures. The residential market accounted for roughly 77% of the tax role with 18% for commercial properties. The balance of the tax roll was made up of agricultural properties and tangible personal property. Some factors that have fed the county's past growth have diminished. The county has one of the highest tax burdens in Florida and property insurance is no longer affordable. Additionally, recent local political corruption has made national headlines and residential construction has dramatically declined. However, the county retains a large reserve fund and the only AAA bond rating in the State 24 AI"'l()I'l?\UI'oO &< 4Al:JlJ. 11"'l{ . Conclusion Although in recent years jlu!'ulatiol1 growth ha, slowed, and the residentt:; market has been in a decline, the long term Olltlook for the county remalJ1 positive, As population grows over the long term, more supporting cornmern", industrial and services deveJopm<:nt will he required. These factors combined with a finite quantity of d<:velopahle land create a positive real estate outlool: fur the long term. 25 I I I ! j A~I)~J2S()~ '" CAJ2J2. I~L NEIGHBORHOOD ANALYSIS .. I ! ! "'1'" I I I 1 " , , \ \ '""~-'- \ '\ I I I I I I I I _.~!----+ , i j....w.' I ~f9I1l1D. ......$,.., USA Q ,- ,- ..@~, !.~.. -1 i ~11d /. f'-- '.. ~ '~')' .~"."': i"-~ ,~. /';';;;;1: "i'D r"'J. .(jM) , J .co:~'c""'''''... I , .~,,_ "'ro.""'" r _....Hom... '- -" .~ -~ ~ The City of Boynton Beach is located in the eastern part of Palm Beach County covering an area of approximately 15.5 square miles. The city is located eleven miles south of Palm Beach, thirty-three miles north of Ft. Lauderdale, and has an annual average temperature of 74.7 degrees. This is made possible in part by the cool Atlantic Ocean breezes in the summer and in the winter by the influence of the Gulfstream just a mile off shore. When compared with the history of other American or Florida cities, the history of Boynton Beach is not a long one. The area was not settled in large numbers until Henry Flagler's railroad, the Florida East Coast railroad, was built from Daytona to Miami in 1894 to 1896. In the 1920's a building boom occurred throughout all of South Florida. The leading Palm Beach architect was Addison Mizner. Mizner left a legacy of Spanish-Mediterranean style structures in Palm Beach County. The Boynton Woman's Club, built in 1925 as a memorial to the town founder, is an original example of Mizner Architecture now included on the National Register of Historic Places. 26 4.~r)I'I)\( li'O C\, (, ,,,"lJlJ. I~(' r I ri@:J I (Ii,", }"~oo",,," ,",I~O""" , [~l~ JO~"T:i"" ~~ i ~, I (' I~' ! "--t ,. ii I ..-..@-'.:...--.-- .._--"~-- I ,-L, "liB' "'" i , I --l- I I I .....,'<. I .,,,,,J I \ \ r.u""''''~ '1 11mlAn.,U'A ~i The basis of Boynton Beach's economy. until abont Wnrld War II. was agriculture. The main crops were fruits and vegetables. Today. and for the last ten years, the economic base of tbe Boynton Ikach a rea has been land development. The area is very dependent on the buying and selling of land and the construction of dwelling units and support facilities to house and support the in-migration of retired people from the northern areas of the 1 Jnited Slates. These people have chosen to live their remaining vears in the warm climate of South Florida. The in-migration of retirees has caused significant population growth in Boynton Beach in years. The 1990 population, according to the U.S. Census Bureau, was 46,284. The 2000 census count was 60,389 people, an increase of 30.5% over the ten year period. The 2006 population was estimated by the US C"nsus Bureau to be 68,284 which indicates an average increase "t J.Jlh persons per year over the six year period. The (ireater Boynton Beach area includes the area south of Hypoluxo Road, west of the coast, north of the L-J(J Canal, and east of the Everglades Wildlife Retuge. Along with the City, ;1 includes the very small municipalities of Briny Breezes, Ocean Ridge, GuIfstream, the Village of Golf. and a 50 square mile portion of unincorporated Palm Beach County. 27 J 4.~I)~J2S()~ '" C4.l2I;!. I~C. Of the total adult population approximately forty-three percent is fifty-five vears old or more. Fifty percent of the total adult population in Boynton Beach is considered retired. The median age, however, is only 43.5 years according to Nielsen Claritas figures. The average household size in 2005 was 2.30 people in Greater Boynton Beach. Single unattached houses and condominiums account for approximately 73 percent of the dwelling units. Home ownership is put at approximately 63 percent. Total household income of $25,000 or more applies to seventy-three percent, of total households of Boynton Beach. This study indicates that Greater Boynton Beach is a typical South Florida area with a large number of retirees as part of its population. Due to the rapid popnlation growth, many service, professional, and retail businesses have been expanded or created to cater to the needs of increased growth. Most businesses are located along Federal Highway, Boynton Beach Bonlevard, Ocean Avenue, Woolbright Road, and Congress Avenue. According to the City of Boynton Beach Planning Department, the city covers some 15.26 square miles. An estimated 1.28 square miles are planned to be added through future annexations. The Greater Boynton area amounts to some 49.8 square miles. Growth has been so dynamic that in the early 1990's a community plan was created for the west Boynton area. The plans recommendations are now part of the Palm Beach County Comprehensive Plan. Significant efforts have been made to attract new business and industry to the Boynton Beach community. The success of this effort is reflected by the presence of the Boynton Beach Mall, APAC, and various other smaller businesses that have moved into or are planning to move into this community. The development of Quantnm Park, a 562 acre planned industrial development, is attracting more businesses particularly in light of the Gateway Boulevard (N.W. 22nd Avenue) 1-95 interchange at the project. This expansion of bnsiness should attract younger working age people and their families to this area. This in turn should cause an expansion of service, professional, retail businesses, and employment, catering to the needs of this population. 28 ""'~I )~li\{)~ '" tAlili. I~L Uf considerable importance is the new Boynton Hem.it High School in Ouantum Park. The $37.8 million facility was compleltc11l1 /"""'I't of 2()01 housing 2,5()() students. Included is a 1,880 seat gymnasium. outcloor tact, baseball, softball and football fields and a closed-circuit televisloIl nroductinn studio. Enhancing the school's and Ouantulll Park's access is the Wil1cl1111~ Ilf C,ateway Boulevard , , from 1-95 to US Highway I. Boynton Beach is also attempting to revitalize several areas of the city. In 1'191\ Urban Design and David Plummer & Associate's designed a citv wide Redevelopment Master Plan, Vision 20/20, The plan calls for many areas to bc enhanced with street beautification projects. parks and community services. Most prominent is Boynton Marina project. The development, located just north of Ocean Avenue on the west sick of the Intracoastal Waterway, was developed in approximately 2006. The project coincided with redevelopment of Ocean Avenue from Seacrest Boulevard to the new bridge at the Intracoastal Waterway. Complementing this urban redeveloJlment is till' Blue Lagoon Stormwater Facility to the north. The facility provides drainage for the project and has lagoon front walks with a central gazebll. Much of the growth and many contributing factors in Boynton Beach's presence in today's market have taken place, not in the city itself. but in the Greater Boynton area. The suburban area has grown extremely rapidly over the past few years with numerous new residential planned unit developments and major shopping centers, West of this area lies the Palm Beach County Agricultural Reserve, which is destined for future residential development. Disregarding city boundaries, the community has expanded westward to thc Florida Turnpikc, 29 A~I)~I"2S()~ '" CAl"2li. I~C. I I BOYNTON BEACH NEIGHBORHOOD ANALYSIS I A neighborhood is defined as: "A gronp of complementary land uses; a congruous grouping of inhabitants, buildings, or business enterprises." SOURCE: Dictionary of Real Estate Appraisal, Fourth Edition, 2002. >o"~~ iP~~"" J~;:: "" !a.!__.~ r- !4_ ..... f-""''> Jt'rr(ll; ~4111nJ'.(OO ~.l"''''''''.:il'JIl; 30 ,,"~IJ~I"2\(J~ & . ,AlJJ;'. 'i'o/, The subject property IS iocated III urhan Boynton Reach, in the Heal' Boynton Neighborhood Mastcr Plan district The neighborhood's houmlal it are 1-95 to the west. FEC Railroad tracks to the eas!. Boynton Reach Caual ' In) to the north, and appfllxllnately Northeast-Northwest 4'" Avenue 10 Iii south. The redevelopment dIStrict boundaries arc Northeast 3'" Avenuc II, 'Ii north, Southeast 20" Avenul' 10 the south. Scacrest Boulevard to the west I i " in the Heart of Boynton Neighborhood Master Plan) and the FEC I{ailr"", tracks to the east. The district is characterized by older residential an,; commercial properties along the major thoroughfares with moderatelv priccll single family residences in the interior neighhorhoods, The neighborhood has good access. The primary thoroughfarcs are Boynton Beach Boulevard, Federal Highway. and Ocean Avenue, Gateway Boulevard and SeacIest Boulevard. Boynton Beach ami Gateway Boulevards provide access to the Congress Avenue commercial/retail district, as well as residential areas lying west of the city. Ocean Avenue provides access to State Road A I ^ and wealthy beach communities. Seacrcst Boulevard provides north-soulh access through the neighborhood connecting to Gateway Boulevard to the north and Boynton Beach Boulevard to the south, both provide access to thl' commercial and residential areas west of thc rcdevelopment area, Federal Highway traverses Palm Beach County's older coastal neighborhoods. Federal Highway also provides access to AtIantie Avenue in downtown DeIray Beach. an older commercial district that is rL,developing as a thriving restaurant and nightlife area. The City of Boynton Beach has a conceptual redevelopment plan for thc district. Historic neighborhoods continue to undergl1 slreebcape modifications: one of the goals is to make it a series of pedestrian friendly residential properties along with the public use propcrties within the district. All things considered, this neighborhood is likely to expcrience stahle, properly valnes for the long term foreseeable future. It is yet to he seen, as hoped by the city and local business owners, if the completion of the on-going projects will create the momentum necessary to spur a wave of new private redevelopment 31 ~[)I:VS()~ & C4.VV~ I~C. (' . , .j -J{i R I ...... II ~ i .'...:. '-! '~-ll- r'l t' ;.... '" <,\..' " ~ '. ~i -= \-+:1 1,- I l':'I':R:--t=II-i'-l [-'-1 ' i .'{I-,:III. ~l:--jt: 1 t-::-r"'::"", \ ...... , :':~Jt:J....:L:t:Jt"~:.:t:I:J\=rJ~-=:: [~-I. I' L ,. --\- '-' -~ -1 .... f"r"" ,.,..... -,... ) t' _H , '., I " f I, :::! --1'- Ie.:. - :.'. '.: C-.. f . l-j- ~] I.LlJJ..Llli ~ '.. -.- f ' I I.. - ,:+:1'~ I":. !-1_ . --:-,1" . -"-~Llll'L!_L_.~.. ~ " I. 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III, __~_.............~~~".,.~--~~'t....,-~...T"'c1....~'t~~-- L~ ~lJrdUre We-la21l,~ I,WH'm'. foe~ r MCUlJu ! ~lor-.II ~ ~ - McUIl t$/'JooUJ I\J!fcUtl/ly ......Ii:JT ~l Proposed Land Dsu Map 'A.':' I iN .110 =...;.;.--:..;.....;.....-' bIb kflll lreert ..lGJ(llllO tlllUlllM;, f\...~1 f1li11l 101tlUa ImIl."'r~a AOlJre 16 (' 32 A~[)I:J2\()~ ,\; ("'I,ile. 11'0/(. PROPERTY DATI Taxpayer of Reconl Johnny L. & Bettv.l. Roherts Parcel Control Numbers 08-43-45-21-10-005-001 0 Census Tract The census Iract for the subject property is 0061.00. ~i" <.> ':;/' ,-;;-\ ,,", ,c...... *' o'~~ !'>,v ~....\~ ...'1--r- 0> ~ liE <I"'A~~ :t'j~'''Y :"" IS .... to'll';' R1r14fj, c'r ~ r1 NF 19ftl (,,-,.(; 'S ~ ~ " ~ c (: t- " " N'N ?2nd " 0: NW 13\b Ave. NW -l:Hh A.F' NE 17t1,c..L ...'O p'fr.;iJ iJi- CHcll" tlr:S ,. "0 :T ~'<lIll Rid~le Bhrd . Nr: Filll/\'d N~ 10'th ,1\",-, ~ NWfHtJ A\',,; [ NW 1ULlI AI,f2 f'~W 8-t11 t.,,- Nl/.' liU, ,/\\['0 IHlt}"rrl';t,uJ /!.v..;- NYi6th !\\It' ]jl BoynlL'lI Rtf ,. < " NE" ~Lh Ave :;! " r-4Wl\lh A'H). (,II,:;, $t,:;'\Cl f-I'NY An~ ',o;;-~\(l'l S\~ '? ~ \.',1 Ou~ I vo llA':lI' '/.r:' Or:.;(;,31L~! 'J) .sWlf>th,>,p :f ;1l SW 31dAvc ~ " SW~[h fwt SW tl\d/l.,.(' SE ~'Hd A,'t. \h "vI) _<!; 'S: Wi"lJO.D2 ~~ ;\; " H.....mmintl W.l B~lft""t V,y Nc\,.l~,~c 01 Sf Bib ^ I SW 5lh Ln 7th (.( !:,(<,/,r J s[ (,th Ave s 33 c C 5t : ~ J.?'" " ~ > N[ 11.111/\\1" " " ~ "' 7 M,I'IOT rh Nf Slit A.." NE..,tl e: .,^ u: m ~. ,;r:{l:1l Ii, S:l l~n,',Tlll;t.! :';!rf'd tlnn~;n~,lf If""'( . ,'I'It;) f'., I .1,-,--,-" C"_d_-'1._~. liF r:;11 C f','il' __n J ~ ~ "1",,,,"'/ M fill'rh , ! r ::I~';"~ ~:' ; ) H'II; Ut"',,rl/:''''i' :; ( a: ,~ i 'i -,,-D C) )' .~ I ~, 'I A~I)~I"2S()~ '" CAI"2I:i. I~C. Flood Zone Date The subject property appears to be located within Flood Zone "C", according to the National Flood Insurance Program Map on Community Panel Nn. ] 20] 96- 0004C, effective September 9, 1982. Flood Zone "C" is defined as areas of minimal flooding:. z z '" '" NE is -i :r NE ~ ~ '" :r NE ~ ", ';'ifi' . < ; NI"I I :. (~ ~. ,ifili : .1~ ~~, - ~ ,!" . ,'j. E:1g ~ DQ.....'. -l ' % t). 2N ST <:, I~~>,' ~~<" l"'I .'. )> \). < ;r:. ""~; ", .,. ", ~ '" ZONE AS l'.:ll'1 In17'.) .~~ 34 r;- 11_', t >1' ',:..'."1.. II. ~L .\1' n~o I I ;," F'''' ~o~, " .., UllQUl nODI IH1IUH({ UG8UM I ":11i " ;1111 fiRM ~ K.; noon IHS~ftA"C[ RATE MAp ill:j t :lcrnoy .1' . i BOYNTON BEACH, l' ; FLORIDA. ~!; '[Ii PAt.Jj 'I,\:,\I;D CflUN'r'i ;j1r;jI i!_ rUU4llf5 Iii ~..,..,,,..-... 'I' i'i , I' ,'i'i, I I'W' II i. CO..UNlry,p'ilkU NUllutR j>.i m1960D~C ij,ii_-,', jI~pRl.'llm, I ~.'..-.'.,:,;,.<::, SUITMB(ll)O,ltet 'tWtI' . ~!J~T'~~I ~"'~~L", \l""'m~<l1 ~~~." "''''l[)-=I)\fl~ & tAI)I:J. I~L Assessment and Taxes The subject parcel is assessed by the Palm Beach County Property Appraiser's office for a total of $195,716 in 200!\ wnh $69,716 attributed to the improvements and $126,000 attrihuted to the Ian,], Thc total Ad valorem tax was $3,905 with an additional non,ad valorem chargl or $1,055 resulting in a total tax bill of $4,960. Based on the value contained within this appraisal report, the current assessments appear to be somewhat below market. As will he discussed in the valuation section of this report, Wt. have appraised the subject property at $250,000. Net of cost of sales of 15% this would imply a fair valuation or $212,500. Based on the millage rate of $19.95 pel $1,nOO the fair tax would he $4,240 plus non ad valorem of $1,055 for a total tax bill of $5,295, Zoning and Future Land Use The subject property is located within the city of Boynton Beach and is zoned C2 - Neighborhood Commercial. The district regulations provide for a limited number of small commercial facilities of a retail convenience nature, intended to service individual residential neighborhoods. Generally, the desired locations for these facilities are near and about the geo-center or other planned nucleus of the neighborhood, conforming to the general development plan, Uses permitted include professional office, restaurants, barber shop, dental labs, bee] and wine sales, dry cleaning, print shops, grocery, ete. The minimum lot area is 5,000 square feet with a minimum frontage of 50 feet and a minimum depth of JOO feel. The minimum front yard is 30 feel. with a minimum side yard of 15 fcet and a minimulll rear yard 01 20 feel. The maximum building height is 25 feel and is not tu exceed two stones, The comprehensive plan future land use designation is Local Retail Commercial by Boynton Beach. No conflict between the existing use, the existing zoning or the future land use is evident Utilities The subject is served by all standard public utilities, 35 A~I)~(JS()~ '" CAI"2I"2. I~C. Concurrency The strongest growth control measure ever imposed on Palm Beach Connty was passed by the Florida Legislature and became effective on February 1, 1990. This was mandated by Chapter 163, Florida Statutes, otherwise known as the "Growth Management Law." One provision of this law is referred to as "Concurrency" which dramatically limits the ability to develop real property. It is basically the requirement that adeqnate infrastructure be available to serve new development. Eight types of infrastructure are affected including traffic, potable water, sewer, drainage, solid waste, recreation and open space, mass transit, and fire rescne. Since the subject was built in 1985, it is assumed that the subject is grandfathered with respect to all concurrency requirements. Subject Property Sales History The appraisers have not been provided with a title abstract on the property appraised, nor have they conducted a title search of their own. However, the following discnssion is based upon a review of Palm Beach County public records. The subject is not currently listed for sale and there have been no transfers of ownership within the previous five year period. The most recent observed transfer involved the acqnisition of the underlying land by the current owners Johnny Lee Roberts and Betty J. Roberts on February 28, 1984. 36 A~I:)I:IJS{l~ & (~4.l?J-'. .""(. Site Analysis The following analysis is baseo upon review of the tax plat map a personal inspection of the site and Palm fkach County Public Records, Subject Tax Plat :"J -::..t l:l / ""'." S .' .". . 1 ~ ':.1 :, c r .1 ~ -:';:l! t qql B ,-::-: I ":~ L i:j'. ~. .... ,....JJ"._ Location - .~-- --F~_45'~O'00500IJ: IC""2 r"1AI'-T'II LUTHER "EH,I/D JL _. . 31k~~r . ___ _m__ . Martin Luther King Boulevard (50. SUbject] 0 0030 0 OJ ..- 1.0...-_ l;D , ..-.. ,-. ~ 0 "'r ..q- ~. 0 0 0 0 0 m N( 00.00') N ..,.- I _ __ .n_u_ .. o 0\ o o The property is located on the southeast corner of the intersection of North Seacrest Boulevard and Martin Luther King Boulevard Thc property address is 1010 North Seacrest Boulevard, Boynton Beach, FI. .,3435. Size and Shape The subject site is generally rcctangular and has a maximum depth of 12(1 feet and a maximum width of 75 feet. The northwestern corner was mitered to accommodate road work on the intersection. We wcre not provided with a survey. 37 A~I)~I"2S()~ '" CAI;lI;l. .~(,. The Palm Beach County Property Appraiser's web site indicates a site size of 9,000 square feet which is the product of the maximum depth of 120 feet times the maximum width of 75 feet. This size indication does not account for area lost at the mitered (intersection) corner and appears to be incorrect. We have relied on a site size of 8,686 square feet as reported by RealQuest Professional. Should a future survey indicate a substantially different site size we reserve the right to amend this report accordingly. Topography and Drainage The existing site is above road grade. Drainage appeared adequate. Access The front of the subject site is currently accessible via a curb cut from Martin Luther King Boulevard. 38 4.~I)f'V\{l~ ,'I. ("-IJt.'. .~C. Description of' the improvements We have relied on upon a personal inspection of the buildll1g, '" well <J' the Palm Beach County Publie Records for the following descriplil)] This subject building consists nf an average quality owner occupied restaurant buildill~ Year Built: 19Wi Basic Construction: Concrete block Exterior Finish: Stucco Doors: Glass with aluminum frame on front and side, metal at rear. Roll down security/hurricane doors on front and side window and door openings. Security screen door at real Windows: Glass with aluminum frame Floors: Tile Ceiling: Drop acoustical tile Interior Walls: Painted drywall and tile Lighting: FJuoreseent panels and/or other recessed lighting Electric Service: Working condition; appears adequall', Plumbing: Two commercial type bathrooms Heating and Cooling: Central air and heat (root mounted) Roof: Flat roof wi built up covering. Site Improvements: Asphalt parking lot consisting of S standard marked spaces and a single hand icapped space between the building and Martin Luther King Boulevard, 1.[144 square feet grn" enclosed building area, 39 ..J Building Area: A~[)~llS()~ '" CAJ2lJ. I~C. calculated 36' x 29' = 1,044 SF. Site Area: 8,686 square feet, or 0.20 acres FAR: 0.12 Property Condition: Building is in general need of paint and clean up. Some remaining hurricane damage evident on the mansard roof tiles. Overall condition is average to fair. Floor Plan: 29' Bath Bath Kitchen Walk In' Dining 36' 40 ~~I 11::1,'\( I~ & (,AU:-. .~.. HIGHEST AND REST USE The Appraisal Institute defines "Highest and Best I is, :" joliow, "The reasonably probable and legal use of vaeant land ('I IInprnvt'c1 propeI1y which IS physically possible, appropriately supported, financially feasible and that results in the highest value. The four criteria the highest and best use must mect arc legal permissibility, physical possibility, financial feasibility and maximum productivity" SOURCE: The Dictional} oJ'Real Estate ApplHj,'aJ Fourth FditioJ1 2002. by the Appraisal Institute As Vacant Legal Permissible The zoning of the property allows for a variety of commercial uses including retail and office. Traditional residential uses and industrial uses are prohibited under the subject's current zoning. Phvsically Possible The subject site is physically capable of handling numerous improvements including the present improvements. Its use would be limited only by wning. logical continuation of existing uses, and the feasibility of such uses, Financial Feasibility The subject property is situated along a well traveled portion of North Seacrest Boulevard which is densely built-up with residential properties and retail improvements at the major intersections. There is a large residential base in the immediate area of the subject from which the subject's restaurant/convenience store draws its primary customer base. Maximum Productivitv Based on our foregoing analysis and considering all factors, the maximally prodnctive usc of the subject parcel as if vacant, would be a commercial/retail use, 41 A~I)U?S()~ '" CAJ?J2. I~C. As Improved Legal Permissible The subject was built in 1985 and is assumed to have met the legal requirements to be built and is therefore considered to be a legal permissible use. Phvsicallv Possible The subject improvements are physically possible by virtne of their existence. Financial Feasibility The subject parcel is located in an area with moderate vacancy rates. There is a large residential base in the immediate area of the snbject from which the subject draws its primary customer base. The subject is therefore financially feasible. Maximum Productivity The existing improvements represent the maximum productivity of the snbject parcel as improved. In consideration of the site's location, land use classification, and existing nse, the highest and best use for the subject as improved is considered to be its current use. As vacant the highest and best use would be the construction of a commercial building. 42 "-~[)~I;l\()~ & (:4.lJl'. .""<. EXPOSURE TIME/MARKETfN(; TIMf- Exposure time is the estnnaleu length of time thc' property interest bein~ appraised would have heen olit-rut on the market priur to the hypothetic", consummation of a sale at market value on the effeetive date of the appraisal: , retrospective estimate based on an analysis of past events assuming , competitive and open market. Exposure time is always presumed tu occur pno) to the effective date of the appraisal. The overall concept of reasonah1e exposure encompasses not only adequate. snfficient and n:asonabIe time but also adequate, sufficient and reasonable effort. Exposure time is different for various types of real estate and value ranges and under various market conditions, Souree: Appraisal Standards Board of the Appraisal Foundation, Statement on Appraisal Standards No, h, Fourth Edition. 2002 Marketing time is defined in Advisory Opinion (;-7 as "an estimate of the amount of time it might take to sell a property interest in real estate at tbe estimated market value level during the period immediately after the effective date of an appraisal". The advisory upinion also slates that "the request to estimate a reasonable marketing time exceeds the normal information required for the conduct of the appraisal process, and should he treated separately from that process." The real estate market in the area of the suhject hilS been relatively stable in recent years. The appraisers have consulted a puhlication known as Korpacz Investor 5/mevfor the second quarter 2009. The snrvey does not track restaurants or convenience stores. We reviewed Korpaczfor the most similar uses and alternative uses for the subject improvements. According to KOlpaC2, the national strip shopping center market indicates an average marketing time range of approximately 2 to 12 months averaging 7.71 months. The national suhurban office markel had " lengthier average marketing time range of from :2 to I g months with a11 awrage of 7.75 months. Looking at the sales actlvlty, we estimate thaI an exposure time of h to 12 months would be reasonable. Looking forward, we sC'e no basis to conclude lhat marketing time would differ from exposure time. 43 A~I)~J2S()~ '" CAJ2J2. I~C. THE VALUATION PROCESS Generally, the appraiser nses three approaches in estimating the market value of a particnlar property. As discussed in the Scope of Assignment, we have applied all three approaches to value the cost, income, and sales comparison approaches to valne. The Cost Approach is based upon the principle of substitution which affirms that a prudent purchaser will pay no more for a property than the cost of constructing an equally desirable substitution. This approach is most applicable for new properties which represent the highest and best use and for special pnrpose properties when no comparisons are available. The Income Approach is based npon capitalization of the net income attributable to the real estate into an estimate of the present worth of the anticipated future benefits. This approach views the property through the eyes of the typical rational investor and is most applicable for investment type properties. The Sales Comparison Approach requires that the appraiser locate recent sales of similar properties and through an adjnstment process arrive at an indication of what these properties would have sold for if they possessed all of the salient characteristics of the subject property. These adjusted sales prices are then correlated into an estimate of the market value of the property via the Sales Comparison Approach to Value. The final step in the appraisal process is the reconciliation or correlation of the value indications. In the reconciliation or correlation, the appraisers consider the relative applicability of each of the three approaches used, examines the range between the value indications, and places major emphasis on the approach that appears to produce the most reliable solution to the specific appraisal problem. Because of the current use of the subject property, the Income and Sales Comparison Approaches are the most applicable approaches and would be used by the current market. The Cost Approach is not applicable because of the age of the structure. The omission of this approach is not misleading to the client. 44 "'~I)I'J2\()~ ," _"'1)(,.'. 1""< . INCOME CAPITALIZATION APPROACH The premise behind the income capitalization approach is that typlcai IO"CSlnr,. value a propertv based upon its ability to generate a net income The DietJonan Of Reifl E\'lale Appraisal, Fourth Edition, 20lL 11',' Illl Appraisal Institut<:. defines income capitalization approach as follow, "A set of procedures through which an appraiser derives a value indication for an ineome-producing property by converting its anticipated benefits (cash flows and reversion) into property value. This conversion can be accomplished in two ways. One year's income expectancy can be capitalized at a market-derived capitalization rate or at a capitalization rate that reflects it specified income pattern, return on investment, and change in the value of the investment. Alternatively, the annual cash flows for the holding period and the reversion can be discounted at a specified yield ratc." The definition indicates that therc arc two methuds, which may bc applied under this approach: direct capitalization and discounted cash flow (DCF) Direct capitalization involves estimating the market rent, vacancy and collection losses, and expenses by comparing the snbject property, with comparable properties, in order to arrive at an estimate of net operating income. The estimated net operating income is then capitalized at a market-oriented rate to estimate value. According to the Appraisal Institute's definition, one year's incomc expectancy can be capitalized at a rate, which reflects a specific income pattern. Wc derived capitalization rates both from national survey data, and from local sales, based on an analysis of the sale property's actual income and expenses at the time of sale, or on the buyer's estimate of income and expenses, when it conld he ascertained. We then applied an appropriate cap rale, derived from the sales data, to an estimate of the subject's net operating income, as if leased <1t market rent. The following section of the appraisal describes this approach. 45 , " 4.~I)I'J2S()~ '" {;4.()(;1. I~C. Estimate of Market Rent The subject property is configured to allow only a single occnpant and is owner occupied. In order to establish the market rental rate for the subject we researched actual lease rates as well as quoted rates for similar office/retail type buildings in the area. The rents are qnoted on a net and gross basis. Typically, the tenant is responsible for their utilities, maintenance and insurance and their share of property taxes. Due to recent tax increases we observed some landlords passing through increases over the base year amount. The landlord is typically responsible for major structural repairs, including the roof and exterior walls and general maintenance. The rent comparables are summarized in the chart on the following pages. 46 A~I)~J2S()~ & CAlm. I~C. RENT€,0~ARABLES Rental Lease able Gross Rental CAM Net Rental Comments Number Location S. F Rate Rate 1 558 Gateway Boulevard 700 N/A NiA S25.71 Asking rate of $1.500/mo. For a tree Boynton Beacb standing 700 SF Building zoned C,2 0 211 E. Boynton Beach Blvd. 1.900 N/A NiA $28.42 Asking rate of $4.500/mo. For a free - Boynton Beach standing 1.900 SF Building zoned C-3 12' E. Boynton Beach Blvd. Asking rate of $3,500/mo. (modified ; l,g;':'2 '-;22.32 ":'4.50 Q7.S2 gross). For a free standing 1,R82 SF I Boynton Beach Building zrmed C-3 (distress evident) i 4 410 E. Boynton Beach Blvd, S50 "J/A '\i/A '\16.1111 Actual rent itn t\VO R50 SF hays in ~t 1.:\)11 Boynton Beach square foot huilding. Free standing former Craz:,; Cuban Rc~l. , 400 F. Bounton Beach Blvd. I , i,i10 4\2.'-(':' ~2.nn ';,::;0.'""'.::: Lease hc.cins Aug L 200\1 for :2 ycar~ BnyntnTI Beach 1 errant pays 11n~nO/m(1 r]1~::J:~r.~:.~'" , - --- - ,- - ____.m._. , - --- ---',-- --" 1010 North Seacrest Blvd. 1.044 N,A. "A I ;'\,1,'.'\ CBS. ",m!'] ;"'1l:'1l1,!\"" ""1" "l\lhi('c~ Bnynwn B~a~h !111Ikl11'!' _..w",_'_", .1.. ..--........- ,- ...- .-.- . ,,"_'H ------ .._L__..... --_.,.,-,., J" A~I)I:I;>S()~ '" CAJ2I;>. I~C. Comparable Rental Map ~Expodi. Ii' 11,1 " I',iil " it!uanlum Blvd il ,Ii .-iili. Motorola l,807) .., :z n g ~ . . . NW 131 ~~ '~ "€> Q ch I ~ ,:Old,BOyht O~f'JO, ~ ~ 1,8011 ~ ~ Gateway Blvd .,,~ .; ,/'1 :fJ,# ~'" Ii ~~~ -~~~~"=f:,~ " W Ocean AlJe ]':, ~ I '" ! ~ ,.'l}. ~ ~~ 0::: ~ ~ P~k'Ri~qe Blvd :'i .'i ,'./, '~ <;i z ;e ~ ~ ~ Gatew~ B{\.ti HypOlu~r :z :z m m "',. ~,~ ;/1' ,,, ", Iii .'')! ~, ,I !oa'~ u ~ filE 20th Ave ~ ,t; ,;"i,I,J 5-,#~k St WV:' NI' 1,1 1',:1 'I' ,',I ,1'!'!~oreDr I' '.i',fSouthRd I': !;'~~ ffi ,'I~II ?J. " \ ~ " ' l'r!, Ja! 1'1 91 l / 9 filE 16th Ave NE 15th A~ filE 14th Ave :z ~ NE13!hAve /'olE 11th Ave 10th A~'e :z m ~ ~ " " . 'ot,!.!!1r-""-~"'-~-' W Ocean Ave SW 9th Ave ~ '" '" '" Lak€i IVo,"th Comp 1 JSIan11}- ,; i <!:i '< ~ <l 12 :g l<ie 0 bing' " m ~ o '" ~ . u o . :.:: . .!! li 48 "'~I)U:)\()~ '" (~4.lJlJ. I~(. Conclusion of Market Rent Fortunately we were able to o[)Serve' both rceenlIy signed leases and current asking rates for similar free standin" huildings in the Boyn(on Beach sub markel. Comparable Rental 1 is a current listing of a building in inferior condition. According to the listing broker they received recent offers to rent the building at $25.71/SF NNN but the owner is primarily interested in selling. The building is listed at $330,000 ($471/SF). With counter balancing downward adjustment for the nature of this being a listing and upward adjustment for inferinr (shell) condition this listing is supportive of ~ determination of $25.00 to $2h.(J() per square fool. Comparable Rental 2 is the current listing of an uptometrists' office on East Boynton Beach Boulevard at $28.42/SF NNN. Downward adjustment is indicated for snperior condition, location and tbe natul (' 01 this bcing a listing. Upward adjustment is made for the subject's smaller size. The subject should lease for less than $28.42 per square foot. Comparable Rental 3 is also a current listing at $17.82 per square foot 01 a 1,882 sqnare foot law office. The owner's arc having health problems and the rental rate has been lowered to attain a tenant quiekly. The suhject should rent fOl more than this amount. Comparable Rental 4 is an existing older lease involving two 8S(J squarl' foot bays within a 1,700 square foot building at $16.00 per square fool. llpward adjustment is made for the subject's free standing condition. The subject shon)d rent for more than this amount. Comparable RentalS is the very recent lease of a 900 square foot free standing former restaurant with direct frontage and exposure on East Boynton Beach Boulevard. The tenant is a not for profit who will not be using it as a restaurant. The two year lease begins August I, 2009 and calls for a rental payment ot $2,300 per month for the first year increasing tu $2.415 per month I'm the second year. The tenant pays sales tax and property tax during the l~nllllf the lease. We have estimated a CAM of $2.00 to covet insurance and incidental!, which would indicate a net rental rate of $30.75 in the first year. Based on the superior location, the subject shoulcI lease for less than the indicatecI $30,75 pel sq uare foot. 49 A~I)I'J2S()~ '" CAJ2J2. I~C. Having examined each of the comparable rentals and giving consideration to the overall condition, unit sizes, location and the recently signed lease rates, the rent comparables have a range from $16.00/SF to $30.00/SF on a net basis. As a result of this data, and the declining economy, it is concluded that the estimate of rent for snbject property is from $20.00 to $25.00/SF triple net (Call at $22.50/SF). Comparable rents are typically quoted on a net basis. A net lease means that all of the expenses including real estate taxes, insurance and standard maintenance are passed through to the tenant. A gross lease means that the landlord pays the majority of the expenses including real estate taxes. For purposes of this appraisal, the market rent for the subject property will be estimated on a net basis. Potential Gross Income 1,044 SF @ $22.50/SF equals: $23,490 Vacancy and Collection Loss Our market snrvey indicated a relatively strong occupancy within the subject's sub market. We only noted three currently vacant buildings and a limited nnmber of for rent signs. The subject is currently 100% occupied by the owner/user. If the subject were leased, based on the size of the building and single occupant nature of the building, a stabilized occupancy level of 90 to 100 percent would be generated by the building through the foreseeable future. CoStar reports retail vacancy rates for the first quarter 2009 at 6.9% for Palm Beach Connty as a whole. The vacancy rate was up over the 6.2% reported in previous quarter, with negative net absorption of 195,226 square feet in the first quarter. However, the BoyntonlLantana area market reported slightly above average vacancy for all retail space at around 7.1% as shown in the following chart which represents data from 508 buildings. 50 "'~()(:J:!~(J~ '\'. <<"'lJL'. '''''<.. fUlsr OUAf.:n" ~')"" PAU,\ HAG! COUNl ,I:, II ,,' I, Rl'lAll !I!.\H!;)'! ~ BOYNTONtLANTANA MARKET __._r,"',~.;"";",""."""",~,,,,~ I)ELI\;I.I{II...., .~I~"tl],I'I[\IN" V\( _,\N\ 'I HistrHi(aIAna'ysis,AIIClll~s,"" =.Jl)'I"..."~" ~A~'^',.-",,\; "ill" f';:J:-r, +~,., F~-JI-.j ,. i~'J !j'(""" ~ 1'1"" vn<,' ,.""" "'''', "'/e'I' ,""'" ;l.l'<)'1 ,,',",1'1 '''',11 .''' ," .","" Due to the clearly increasing trend in vacancy rates wi thin the sector we haw estimated a stabilized vacancy and collection Joss at r; , Operating Expense Analysis The subject property type is typically leased on a net basis. The rent for the subject building, based on its size, and single tenant nature, is estimated on a full net basis. Huwever, it is unrealistic to assume that ] DO percent of the expenses incurred in the leasing of the real property will be passed through (0 the tenants in all cases and particularly in times of vacancy, Exclusions from allowances for management exist in many leases. Accordingly. the scope of full net varies from lease to lease. The rentals surveyed arc predominantly leased on a net basis. The net leasing method typically means the tenant pays for all expenses, excluding management, legal, and administration fees. We are estimating these expenses at five percent of the effective gross mcome. During periods of vacancy the landlord would be responsible for laxes and insurance, The insurance on the real estate is currently $2.640 and 7", of tlla t amount would be $185 per year. 5 I A~I)I:J2S()~ '" CAJ2I;!. I~C. The tax expense would likely be based on a value closer to the appraised value than the current under assessed value. Based on an appraised value 0: $250,000, net of cost of sales of 15% this would imply a fair valuation of $212,500. Based on the millage rate of $19.95 per $1,000 the fair tax wonld be $4,240 plus non ad valorem of $1,055 for a total tax bill of $5,295. Seven percent of that amount or $371 would accrue to the property owners during times of vacancy. Thns the total budgeted charge for taxes and insurance to account for a stabilized 7% vacancy would be $185 + $371 = $556. Income Formulation Potential Gross Income (Net Lease): Less Vacancy and Rent Loss Estimate @ 7%: Effective Gross Income: $23,490 - $ 1,644 $21,846 Less Management @ 5% of Effective Gross: Less Tax and Insurance during vacancy: - $ 1,092 - $ 556 Net Operating Income: $20,198 52 "'/ll/f In.'\f ,'" &. f,"'J;'I~. I~L Overall Capitalization Rate Selection Capitalization is the process of converting income Inlo \'aluc' The estimated net operating income is capitalized by dividing it by an appf<\rmate rate (overall cap rate I. The cap rate is an expression of the ratio between net operating incn1l1C and value. This rate typically reflects an investor s expectations ff<\m the anticipated net income as well as future appreciation. (;enerally, the stronger" property's growth prospects are, the lower is the capitalization rate. Likewise. the lower the qnality of the risk. the higher the overall cap rate. Since pf<\perties such as the subjeet an, typically leveraged, the availability and cost of mortgage funds can have a significant impact on the overall ratl' analysis. The overall rate is normally derived via threc methods; a) extraction from the' market; b) band nf investment; and c) investor survl'Ys, Thesc methnds arc detailed as follows, Market Extraction The equation ntilized to extract overall rates directly frnm market sales is as follows: Ro I/V Ro '" overall capitalization rate (OAR) I '" net income V '" Value (pnrchase price) Primarily, a property's location, age, condition, and nther risk factors determinc cap rates. Newer properties in the best locations have the lowest rates, because the risk is lower, and the potential for appreciation greater, and vice versa. Properties with below market leases will usually have a lower eap rate, retlecting the potential for rent increases on rollover. S3 ~1)~J2S()~ '" CAm;>. I~C. Direct Sales Abstraction We were able to gather sufficient data on several retail building sales to derive overall capitalization rates (OAR). We believe that these cap rates are sufficiently reliable to be nsed along with the other two methods listed to estimate the snbject's OAR. This data is used below in the table. MARKET EXTRACTED OAR PROPERTY SALE PRICE DATE OAR 2845 North Military Trail $7,275,000 7/2007 7.73% West Palm Beach 3600 & 3650 Forest Hill Blvd $1,600,000 4/2008 7.39% Palm Springs 4475 Medical Center Way $1,175,000 7/2008 7.43% West Palm Beach Looking at the chart above shows a range of roughly 7.39% to 7.73%. The snbject has an average overall location, is in average to fair overall condition and the vacancy rate in the area is moderate. Due to the declining economic conditions the upper end of the range is concluded at 7.50%. 54 4.~Ul'fJ\t)~ & ~4.lJfJ. I~' . I National Publication In addition to the market abSlractllll1, tile appraisers have consulted a national real estate survey publication known '" KorpaC7 Ned! E;.tate Investor SUI1't::I, published by Price Waterhouse ((lopers. The latest edition of the publication. Second Quarter 2009, listed an aVera,l:e OAR for Ihe National Strip Shoppin,l: Center Market of 7.91 % with a ran;cl' of 6.5'+ to I.O(),!;. We concludc at the middle of the range at X.O%. The National Suburban Otfice Market listed an m,nage OAR of 8.24% with a range of 5.00% to 11.00%. We concluded at the middle of the range at X.OO%, Capitalization Rate Summarv Method Direct Sales Abstraction National Publication - National Strip Shopping Center Market National Publication - Southeast Florida Office Market (( Well/Sl()f) 7.50C:; t-i.OO'" x.OO'l, Based on the foregoing and considerin;c the location and quality of the subjecL we conclude a capitalization rate at 8.0 percent. Capitalization Into Value A net income of $20,198 capitalized at an overall rate of X.O percent yields value, as of June 30, 2009 based on the Income Capitalization Approach in the amount of $252,4 75 rounded to $250,000. VALUE VIA INCOME CAPITALIZATION APPROACH $250,000 55 A~I)U?S()~ '" CAJ2J2. I~C. I I i , I , SALES COMPARISON APPROACH A search of the Palm Beach County Official Records, local mnltiple listing service records, discnssions with local brokers and appraisers and a personal inspection of the subject area prodnced several sales of similar type properties. The sales used in the analysis were the best comparables that we were able to verify with a party to the transaction. We compared the selected sales with the subject, considering differences and possible adjustments. We utilized a qualitative process to compare the snbject property with the comparables to reflect a value for the subject property. The following pages feature a detailed write up of each comparable used in the analysis, a location map and snmmary of the selected comparable sales data, which is followed by a discussion of the pertinent adjustments and conclusion of value. 56 ~[)I:l;l~()~ & CAl;l12~ I~C. ~ SALE NO. 1- 214 East Ocean Avenue, Boynton Beach Our File No.: 270697 OR Book 22041, Page 1923 Sale Status: Sale Type: Retail Sub-Type: Shopping/Strip Centers :) Date: August 16,2007 Grantor: Boynton Beach Farms, Inc. Grantee: Dushyant Patel and Nimesh Patel Legal: Lot 5 and and 8, Block 9 of original Town of Boynton, according to the Plat thereof, as recorded in Plat Book 1, Page 23, of the Public Records of Palm Beach County Folio No.: 08-43-45- 28-03-009-0050 Location: East of S. Seacrest Boulevard, West of SE 3rd Street and south of Boynton Beach Boulevard, Boynton Beach, FL Zoning: R3 - Multi-Family Residential by Boynton Beach Land Use: Personal Services 57 ) (.... (.... ( AN()I:~S()~ & CA~~~ I~C. Utilities: Water and sewer Site Size: Square Feet: 12,000 Front Feet: 100 Acres: 0.28 Shape: Square Improvements: Gross Bldg. SF: 2,016 Year Built: 1974 Stories: 1 Condition: Average Parking: On-site, adequate Construction: CBS Air Conditioning: Central FAR: 0.17 Use: Current Use: Commercial Intended Use: Commercial Highest and Best Use: Commercial Verification: Source: Mercury Real Estate Services, LLC Relationship: Lender Conditions of Sale: Arm's length Verified by: M. Jackson Date: November 23, 2007 J Sales History: There was a previous sale in May of 2003 for $250,000 as recorded in O.R. Book 15222, page 1975 Sales Price: $500,000 . Price/SF Building: $248.02 Financing: Cash to Seller Comments: Site is improved with a single story convenience store building with frontage along East Ocean Boulevard. 58 AN()I:VS()~ & CAV~~ I~C. SALE NO.2 - 7514 South Dixie Highway, West Palm Beach Our File No.: 270719,280411 '* OR Book 22483, Page 1132 Sale Status: Sale Type: Retail Sub- Type: Single Tenant Date: February 18,2008 Grantor: Shriji House, Inc. Grantee: Don Victorio's Market Corporation Legal: Homewood 1st Add. S 40 FT of LT 6, LT 7 & N 10 FT of LT8BLK6 Folio No.: 74-43-44-10-07 -006-0061 Location: East side of South Dixie Highway, south of Forest Hill Boulevard Zoning: NC - Neighborhood Commercial by City of West Palm Beach Land Use: Commercial 59 (- r ( AN()I:~S()~ & CAVP~ I~C. Utilities: All Available Site Size: Square Feet: 20,038 Front Feet: 100 Acres: 0.46 Shape: Rectangular Improvements: Gross Bldg. SF: 2,244 Year Built: 1967 Stories: 1 Condition: Average Parking: On-site, adequate Construction: CBS Air Conditioning: Central FAR: 0.11 Use: Current Use: Commercial/Retail Intended Use: Commercial Highest and Best Use: Commercial Verification: Source: Contract for Purchase, Lender, Pace Realty Advisors Relationship: Lender Conditions of Sale: Arm's length Verified by: M. Jackson Date: December 12, 2007 . Sales History: No sales for past five years. Sales Price: $520,000 Price/SF Building: $231. 73 Financing: Cash to Seller Comments: Building was vacant at time of sale. It had been previously used as a "Lum's" restaurant. The purchaser was leasing the property directly to the south of the subject at the time of purchase for his vegetable market. His plans were to purchase this property for his business. 60 A~()~~S()~ & CAV~~ I~C. I SALE NO.3 - 5701 N. Australian Avenue, Mangonia Park Our File No.: 290078.000 OR Book 23033, Page 563 Sale Status: Sale Type: Retail Sub-Type: Single Tenant Date: January 09, 2009 Grantor: Alpha Business International Corporation Grantee: K & M Commercial Development Legal: Mangonia Hills Amended S. 27.48' Lot 12, Lots 13 & 14 (Less Road R/W), Block 5 in Plat Book 27, Page 110, Palm Beach County, FL. Folio No.: 44-43-43-05-11-005-0122 Location: Northwest corner of N. Australian Avenue and Giller Avenue, Mangonia Park Zoning: CL - Limited Commercial by Mangonia Park Land Use: Commercial 61 r r r A~()I:~S()~ & CA~~~ I~C. Utilities: All Available Site Size: Square Feet: 18,295 Front Feet: 153 Acres: 0.42 Shape: Rectangular Improvements: Gross Bldg. SF: 1,960 Year Built: 1968 Stories: 1 Condition: Average Parking: On-site, adequate Construction: CBS Air Conditioning: Central FAR: 0.11 Use: Current Use: Commercial Intended Use: CommercialJFast food restaurant Highest and Best Use: Commercial Verification: Source: Ed Tyler Relationship: Listing Broker Conditions of Sale: Arm's length Verified by: K. Doran Date: March 03, 2009 Sales History: No market transactions over the past 5 years. Sales Price: $275,000 Price/SF Building: $140.31 Financing: Conventional loan in the amount of $220,000 with Anchor Commercial Bank Comments: The listing broker reported a prior contract for $375,000 which fell through after the town of Mangonia Park demanded that the parking lot be redone. The seller became more motivated and dropped the price for a quick sale. Buyer is planning to open a "Dixie Chicken" restaurant. Equipment that came with the deal was old and in fair condition. 62 AN()I:VS()~ "" CAVV~ I~C. SALE NO.4 - 220 W Boynton Beach Boulevard, Boynton Beach Our File No.: 290004 OR Book 23034, Page 0448 Sale Status: Sale Type: Office Sub- Type: Single Tenant Professional Date: January 09,2009 Grantor: Barbara C. Matthews Grantee: White Elk Enterprises, LLC Legal: Lots 6, 7 and 8, LESS the North 10 feet thereof, Block 3, REVISED PLAT OF BOYNTON HEIGHTS, according to the Plat thereof on file in the office of the Clerk of the Circuit Court in and for Palm Beach County, Florida, recorded in Plat Book 10, Page 64. Folio No.: 08-43-45-28-10-003-0060 Location: South side of West Boynton Beach Boulevard between NW 1st Street and NW 2nd Street, Boynton Beach, Florida Zoning: C2 - Commercial Neighborhood by Boynton Beach 63 r r ,... A~()I:~S()~ & CAV~~ I~C. Land Use: Local Retail Commercial Utilities: All Available Site Size: Square Feet: 10,125 Front Feet: 70 Acres: 0.23 Shape: Rectangular Improvements: Year Built: 1957 Condition: Average Gross Bldg. SF: 1,867 Stories: 1 Parking: On-site, limited Construction: CBS Air Conditioning: Window Units FAR: 0.18 Use: Current Use: Commercial Intended Use: Commercial Highest and Best Use: Commercial Verification: Source: Heather Errickson Relationship: Legal Assistant to Seller's Attorney Conditions of Sale: Arm's length Verified by: M. Evans Date: February 24, 2009 Sales History: Previously sold in February of 1971 for $20,000 as recorded in OR Book 1877, Page 0887 Sales Price: $300,000 Price/SF Building: $160.69 Financing: Cash to Seller Comments: Sale was to an adjacent landowner and property was not listed on the open market. The property is a former residential duplex which has been converted to office use. The property appeared to be in average condition. 64 AN()I:V~()~ "" CAVV~ I~C. SALE NO.5 - 2801 Old Dixie Highway, Riviera Beach Our File No.: 290078.000, 290188.00 OR Book 23145, Page 1537 Sale Status: Sale Type: Retail Sub-Type: Single Tenant Date: March 25, 2009 Grantor: Anthony L. and Margaret Geary Grantee: 2657 Investment Inc. Legal: Metzger Tract Lot 1 in Plat Book 42, Page 185, Palm Beach County, Florida. Folio No.: 56-43-42- 29-52-000-001 0 Location: Southwest corner of Old Dixie Highway and West 27th Street, Riviera Beach Zoning: CG - General Commercial by Riviera Beach Land Use: Commercial 65 (.... r (' AN()~VS()~ & CAVV~ I~C. Utilities: All Available Site Size: Square Feet: 13,939 Front Feet: 65 Acres: 0.32 Shape: Irregular Improvements: Gross Bldg. SF: 1,208 Year Built: 1968 Stories: 1 Condition: Average Parking: On-site, adequate Construction: CBS Air Conditioning: Central FAR: 0.09 Use: Current Use: CommerciallRetail Intended Use: CommerciallRetail Highest and Best Use: Commercial/Retail Verification: Source: J oudeh Ghawali Relationship: Buyer Conditions of Sale: Arm's length Verified by: K. Doran Date: March 03, 2009 Sales History: No sales over the past 5 years Sales Price: $275,000 Price/SF Building: $227.65 Financing: Seeking conventional financing in the amount of $300,000 through Flagler Bank Comments: Actual contract price was $375,000 which included a 3PS liquor license valued at $100,000. Therefore, the indicated price for the real estate is $275,000. Anderson & Carr, Inc. appraised this property in March 2009. 66 ANI)~V~()~ "" CAVV~ INL Comparable Sales Location Map @EXpedia--1 I I 1range-BllJd I ~ .( .. ~ \' " - ~\ _ .1 ,Arthur R. Marstlall LOllahatchee tlational 67 1 ANI)~VS()N & CAVV~ I~C. ) , " · OOkOVED'SM;'ES'-S'i.1MMAR.<Y CHAR:T 'tJ>,..~ft~ Sale'No:' "OR Bk .. ,,- ~ Da:t~ :, Page 1 Aug-07 2 Feb-08 3 Jan-09 4 Jan-09 5 Mar-09 Subj. Jul-09 <.- '~roperty.Address 22041 214 East Ocean Avenue 1923 Boynton Beach 22483 7514 South Dixie Highway 1132 West Palm Beach 23033 5701 N. Australian Avenue 563 Mangonia Park 23034 220 W Boynton Beach Boulevard 448 Boynton Beach 23145 2801 Old Dixie Highway 1537 Riviera Beach 1010 North Seacrest Boulevard N/A Boynton Beach Year Built ' 1974 1967 1968 1957 1968 1985 Land SF Acres 12,000 0.28 20,038 0.46 18,295 0.42 10,125 0.23 13,939 0.32 8,686 0.20 68 Bldg. SF 2,016 2,244 1,960 1,867 1,208 1,044 FAR 0.17 0.11 0.11 0.18 0.09 0.12 ) ~.~ "~f'., Sale .1 "'] ~Price/SF' Price. Bldg. $500,000 $520,000 $275,000 $300,000 $275,000 N/A $248.02 $231.73 $140.31 $160.69 $227.65 N/A A~[)f'll~(J~ & CAllll. 1""( Sales Summary and Discuss;", In this analysis, we considered differences between the sales and the subject Ii terms of property rights sold. conditions of sale. financing, market conditiow (trend or time adjustment I. II 1L.a(j OJl , building and lilt size, and yuaIity ",,, condition of the improvemenL The appraisers based the comparisons on a standardized unit of measure, the- sale price per square foot of building area. The sale price per syuare foot of building area correlates well among the comparable and is commonly useel hy buyers in this type of analysis. Property Rights The property rights transferred were believed to be fee simple. Nil differences between the sales and the subject are reflected. Conditions of Sale All sales with the exception of Sale 3 were reportedly market oriented. No adjustment consideration for conditions of sale was necessary for Sales I, 2, 4 & S. The list price for Sale 3 was drastically cut following a long contract in ordeI to attain a quick sale. Upward adjustment is made to sale 3 for conditions III sale. Financing We considered any indication of favorable financing. All sales were either on it cash basis, or had market oriented financing, and, therefore, no differences were noted, nor were adjustments made. Market Conditions The sales occurred over the period from August 2()07 to March 200t). The market has shown decreasing market conditions over this time period. Downward adjustment is made to the oldest two sales (Sales 1 & 2). The remaining sales are from 2009 and no adjustment is indicated. 09 A~I)~J2S()~ '" CAJ2V. I~C. Location The subject property is located at 1010 North Seacrest Boulevard in Boynton Beach. Sales 1 & 4 are located within Boynton Beach and require no adjustment. Sale 2 is located on South Dixie Highway in West Palm Beach in a very similar location so no adjustment is warranted. Sale 3 is located on North Anstralian Avenue in Mangonia Park in a generally similar area so no adjustment for location is warranted. Sale 5 is located on Old Dixie Highway in Riviera Beach which is also considered a similar location requiring no adjnstments. Size Generally, larger properties will sell for a somewhat lower price per sqnare foot of building area than smaller ones, and vice versa, when all else is equal. The sales in this market do appear to follow this pattern and adjnstment is warranted. Sales 1-4 range from 1,867 square feet to 2,224 square feet. The subject has a relatively small building size of 1,044 square feet. Upward adjustment is made to each of these sales for size. Sale 5 contains 1,208 square feet which is similar enough to the subject that no size related adjustment applies. Quality/Condition! Appeal This consideration takes into acconnt differences in quality of construction, the property's physical condition, as well as the properties overall appeal. The subject property was reportedly built in 1985 and it has not been significantly npdated over the years. The condition of the subject improvements is average to fair. Sale 1 was in superior condition and requires downward adjustment. Sale 4 requires no adjustment. Sales 2, 3 & 5 were constructed in the late 1960's and upward adjustment for condition is made. Lot Coverage The most significant factors involving lot coverage are the existence of excess land and the availability of on site parking. This factor is reflected in the floor area ratio (FAR). The FAR shows how many square feet of building exist for every square foot of land. The subject has an FAR of 0.12. Sales 2, 3 & 5 have similar FARs of 0.11 & 0.9 so no adjustment is made. Sales 1 & 4 have slightly higher F ARs of 0.17 & 0.18 but no adjustment appears warranted. 70 "'~I)~ll~()~ & CAllJ2. I~C. COMPARABLE SALES ADJUSTMENT CHART Sale Property Address Bldg, SF Price/SF Conditions Market Location '"Bldg.Size'- Condl FAR!Lot Overall Sale Date Bldg, of Sale Conditions Appeal Coverage Indication .--. .~-- 214 East Ocean Avenue Similar Highly Similar LargeJ SuP'-] ;"1 ;imil.1T , ~ Ii'" ' 1 Aug-O'7 2.016 5248.02 Superior Boynton Beach ~ m " ++ ".~,l~ II: --- - '7'i14 South Dixie Highw<l\ Similar Sllperior Simil:u Larger Inferior Similal \.]"1' t\1:![' " Feh-ll,s 2,2,1"] ::;231 " " West Palm Beach ~ " +-' "" - ~:2 ~ I "71\1 N AU~lmlian A iel1l1L: [nfenn!" Slnl1l:lJ Slmila~ Largel [nt'Cll,'r Simibr \l'Jre ~h;jjl ; .Ian-Ill) L%{! ',140.:11 \1angonia Park ~- "" - ,,, +-'- ~ l-1I).J i ---- -, -- --- nllw BoyntnD Be:lCh Bt1ulcv3.rJ :'llmilai Similar Simibl , argcl SlITlllar ~imil::n \1nrcCh] j lim-1lG 1.06"7 " l(,(ll;\~ B'l~'Ilt()n Beach ~ , " " " Sll)lll'\() ~ 1----' --.. --- _m - -,-- I-- -- -- I ~8(ll nld ni\l( ijl.[!Jl1l:l\ ':-lmllar "!111 i!<\1 "lmd,y 'Imi!~ji lnicn "lml!:1- ~1'-'rr Tn;;- I I :.200 """' ; I'v'l:n II'~ -- " i R1Vjel a Beach -,~~ ,-"- J I - - -- I- -- --~.. --- ---~-- .-.--. -- -,-------- -. ,- - .'"~_.. --.--- I- -- -,--" -- m, --- -.-- ---. ..,- ___m___ _____II'. I DatL.,! 1IJJ{l NOIth Seanc~1 !::Inule''-alu I \'alut' ;,<'144 '\I,A ~ , '\J: "\ '. \ \ " I Suh]. ""'-4, '\ ; .lnn-I!q D(wntt>Tl Be3l:!1 \ -.-".. --- ,,, _._---_.._---.._-~.. ..--- -,,_.._-~- ~" ___1...__ ----- -~-----".. , -1 A~I)~J2S()~ '" CAl!li. I~C. Conclusiou Considering all of these differences, we developed the preceding qualitative comparison chart listing the sales as they compare to the subject property, based on a price per square foot of building area. Not all categories considered are depicted. Those omitted reflect no differences between the sale and the subject property. The unadjusted range of value indicated by the sales is roughly $140.31 to $248.02 per square foot of building area. The preceding qnalitative comparison chart shows the value range for the subject property based on a price per square foot of building area to be more than $230 and similar to $250. Considering all of the salient factors discnssed previously and prevailing market conditions, the appraisers feel a conclusion in the middle portion of the indicated range is most appropriate. Given the preceding data and discnssions, it is concluded that the market reflects a value per square foot of building area for the subject property of $240.00 as of June 30, 2009. Total value is calculated as follows: 1,044 Square Feet @ $240.00 Per Square Foot = $250,560 Rounded to: MARKET VALUE VIA SALES COMPARISON: $250,000 As a check of the reasonableness of this value, we have also analyzed the comparable sales on the basis of the sales price per square foot of land area (including improvements). Based on an overall land area of 8,686 square feet, a $250,000 valuation of the snbject equates to $28.78 per square foot of land area (including improvements). The five comparable sales sold at the following prices per square foot of land area (including improvements) respectively: $41.67, $25.95, $15.03, $29.63 and $19.73. If the low and high indications are removed, the range tightens considerably to $25.95, $29.63 and $19.73 per square foot of land area. This range is considered to add additional support to our determination of $28.78 per square foot. 72 ~~rlf:lJ\t)~ '" t,"-l:!lJ. I~{' CORRELATION AND FINAL VALUE OPINIO] Value Via Cost Approach: Value Via Income Approach: Value Via Sales Comparison Approach: NjA $ 25(J,()()() $25().()()() In the final analysis, most weight has been placcd UpOIl the value conclusion produced through the Sales Comparison Approach due to the fact the subject property is, and would typically be considered an owner occupant property. As indicated in the valuation process, the Cost Approach has not been utilized. The Income Approach typically receives the most weight for multi-tenant. investor type commercial properties. Typically, this lype of property would be purchased by an investor for its income earning potential. This approach has received some weight in our analysis. We were able to uncover several sales in which to make comparison I'm the Sales Comparison Approach. This approach shows the actions between huyer, and sellers in the open market. The sales data was considered good in that it tended more toward smaller, owner user buildings which command a premiulll in this market. Thereforc more weight is given to this approach It is concluded that the fee simple market value for the subiect property, as of June 30, 2009 is: TWO HUNDRED FUTY THOUSAND DOLLARS ($250,000 I 73 QUALIFICATIONS OF APPRAISER ROBERT B. BANTING, MAl, SRA PROFESSIONAL DESIGNATIONS - YEAR RECEIVED MAl - Member Appraisal Institute - 1984 SRA - Senior Residential Appraiser, Appraisal Institute - 1977 SRPA - Senior Real Property Appraiser, Appraisal Institute - 1980 State-Certified General Real Estate Appraiser, State of Florida, License No. RZ4 - 1991 EDUCATION AND SPECIAL TRAINING Licensed Real Estate Broker - #3748 - State of Florida Graduate, University of Florida, College of Business Administration, BSBA (Major - Real Estate & Urban Land Studies) 1973 SuccessfulJy completed and passed the following Society of Real Estate Appraisers (SREA) and American Institute of Real Estate Appraisers (AIREA) courses and/or exams: Note: the SREA & AIREA merged in 1991 to form the Appraisal Institute. SREA R2: SREA 201: SREA: SREA: AIREA IE: SREA 101: AIREA: AIREA: AIREA: AIREA 2-2: AIREA: AIREA: AIREA: Case Study of Single Family Residence Principles of Income Property Appraising Single Family Residence Demonstration Report Income Property Demonstration Report Capitalization Theory and Techniques Introduction to Appraising Real Property Case Studies in Real Estate Valuation Standards of Professional Practice Introduction to Real Estate Investment Analysis Valuation Analysis and Report Writing Comprehensive Examination Litigation Valuation Standards of Professional Practice Part C A'ITENDED VARIOUS APPRAISAL SEMINARS AND COURSES. INCLUDING: The Internet and Appraising Golf Course Valuation Narrative Report Writing Appraising for Condemnation Condominium Appraisal Reviewing Appraisals Eminent Domain Trials Tax Considerations in Real Estate Mortgage Equity Analysis Partnerships & Syndications Advanced Appraisal Techniques Federal Appraisal Requirements Valuation of Leases and Leaseholds Valuation Litigation Mock Trial Rates, Ratios, and Reasonableness Analyzing Income Producing Properties Standards of Professional Practice Regression Analysis In Appraisal Practice Discounting Condominiums & Subdivisions Condemnation: Legal Rules & Appraisal Practices Analyzing Commercial Lease Clauses Testing ReasonablenesslDiscounted Cash Flow Hotel and Motel Valuation Analytic Uses of Computer in the Appraisal Shop Residential Construction From The Inside Out Development of Major/Large Residential Projects Federal Appraisal Requirements Engaged in appraising and consulting assignments including market research, rental studies, feasibility analysis, expert witness testimony, cash flow analysis, settlement conferences, and brokerage covering all types of real estate since 1972. President of Anderson & Carr, Inc., Realtors and Appraisers, established 1947 Past President Palm Beach County Chapter, Society of Real Estate Appraisers (SREA) Realtor Member of Central Palm Beach County Association of Realtors Special Master for Palm Beach County Property Appraisal Adjustment Board Qualified as an Expert Witness providing testimony in matters of condemnation, property disputes. bankruptcy court, foreclosures, and other issues of real property valuation. Member of Admissions Committee, Appraisal Institute. South Florida Chapter Member of Review and Counseling Committee, Appraisal Institute - South Florida Chapter Approved appraiser for State of Florida, Department of Transportation and Department Natural Resources. Instructor of seminars, sponsored by the West Palm Beach Board of Realtors. Authored articles for The Palm Beach Post and Realtor newsletter. Real Estate Advisory Board Member, University of Florida, TYPES OF PROPERTY APPRAISED - PARTIAL LISTING Air Rights Medical Buildings Amusement Parks Department Stores Condominiums Industrial Buildings Mobile Home Parks Service Stations Auto Dealerships Vacant Lots ~ Acreage Shopping Centers Leasehold Interests Apartment Buildings Hotels - Motels Office Buildings Special Purpose Buildings Residential Projects Financial Institutions Churches Marinas Residences - All Types Restaurants Golf Courses Easements "l am currently certified under the continuing education program of the Appraisallnstitute." QUALIFlC\TIUNS Ulc t\PPI\AISFk \\ ,\ \Nl j, ! PWlS GENERAL INFORMATION ~tak-Cerlified General Real Estate Appraiser. .',Ja/l Ld !')Llrid,l, Lil'l'11."l: Nu. RZ2452 American Institute of Real Estate Appraisers ex"r'" 41!1 1211 '00.' 10 '211 '40. & ,,0 Florida Licensed Real Estate Broker No. BKoxC, I" Completed both comprehen~ive examination awl SVllln!- 1l'\'CJ l'\JllTienn;" credits for the MAl designation EDUCATION AND SPECIAL TRAINING: Master of Science in Real Estate and Urban i\ftarrs I M.S.R.E 1 Georgia State University School of Business Administration; Appraisal major B[l('he)p/, of BU"JDc.-.S L\dministration (It B.A) Emory University School of Business Administration; EC()lIOlTllC~ maillr EXPERIENCE: Anderson & Carr. Ine.. FL April 2000 Commercial and residential real estate valuation, highest and best LISe analysis, market studies and construction loan analysis. Real estate brokerage and leasing. The Appraisal Group Atlanta. GA Commercial and residential real estate valuation. highest and best use loan analysis. October] 999 - March 2000 analysis, market studies and construction PRIMIS. Inc. Atlapta. GA February] 998 - September 1999 Director of operations of the Atlanta office of PRIMIS, 1nc. Successfully turned around an under performing office with annual run rate of $300,000 to a run rate of $1,000,000 in a twelve month period. Established capability to electronically deliver full appraisal reports via the internet resulting in 2:;% cost savings, Participated in the selection panel tasked with choosing a new computer appraisal software for the nationwide network of offices. Participated in the design of a partially automated residential appraisal softwarc that is proprietary to PR1MIS, Inc. Regularly demonstrate proprietary appraisal ordering, tracking and delivery software for corporate largetcd acquisition candidates. Recruited and trained the current staff of 25 appraisers and office assistants (original staff of seven). Engineered high growth while improving customer satisfaction in the appraisal, !lood determination and limited title search industry. Served as marketing representative, senior review appraiser, reviewer of monthly income statements and performed all duties of the director of operations The Atlanta office of PRIMIS. Inc. is cnrrentIy servicing 400+ residential appraisals per month, The Appraisal Group Atlanta. GA July 1994 - January 1998 Partner/Senior Appraiser - Commercial and residential real estate valuation, higbest and best use analysis, market studies and construction loan analysis. Primary activity focused on acquisition and development loan analysis associated with multi'phased single family residential community dcvelopments. Additional areas of concentration ranged from indnstrial products such as carpet manufacture; trucking and warehouse distribution buildings; to gull courses; horse facilities; fast food restaurants; office and rental buildings; apartments and single family residences, Long range budget planning with particular attention on cost savings. ~erved as marketing representative foeusing on new client development and retention. Utilized a wide range of computer skills in report writing, discounted cash flow analysis, and development and renovation cost estimation designed to attain effective communication with clients. ADDENDUM Sec. Y4-144 Neighborhuod commercial (Nl ) district Development standard~ for the neighhorhood commerciallNC ) distric,t sh:ill 11'. follow. (1) Minimum lot dimensions a. Lot area: 5,000 square feel. b. Lot width: 50 fcte (2) Minimum seth(lCks a. Front: five fee-, b, Corner: five feet c. Side: five feet. or 15 feet when abutting a residentiat zoning district. d. Rear: five feet, or 15 feet when abutting a residential zoning district. (3) Maximum lot coverage by buildings. 60 percent. (4) Maximum lot coverage by impermeable surface: 85 percent. (5) Minimum required open space and landscape areas/or nonresidential uses: a. Minimum required open space area: 40 percent. b. Minimum required landscape area: 15 percent. (6) Maximum building height: 30 feet. (7) Minimum building separation, Zero feet or not less than ten feet. (8) Residential structures,' Residential structures shall conform to the provisions or the multifamily medium density (MF20) residential district (see section 94-76), (9) Mixed use density For mixed uses within a project, thc residential portion ofthe gross floor area shall be determined by the percentage of the total floor space in thc residential use to the gross floor area of the entire project. The density requirements shall be adjusted so that the density pennitted correlates with the portion of residential floor area to gross floor area of the entire project. The following is an example of how this shall be computed: Assuming an existing or new commercial structure of itA" square feet (gross floor area} and an applicant desires to convert "B" for multifamily residential use. a, Percent residential: (R%) ~ B / A b. Convert percentage (R%) to acres (# of acres) = (R%) X 43,560 square feet. c. Dwelling units pennitted are 20.26 units/acre X (# of Acres) = X dwelling units. Therefore, the building could be renovated, or constructed, to include X dwelling units and the remaining portion of the building would consist of other nonresidential uses pennitted in the NC district, subject to review and approval (Code 1979, S 33-64) Cross references: Businesses and business regulations, ell. 22. APPRAISAL OF THE ASSETS OF BEITY'S PLACE A RESTAURANT/CONVENIENCE STORE WCATED AT 1010 NORTH SEACREST BOULEVARD BOYNTON BEACH, FLORIDA 33435 FOR BOYNTON BEACH COMMUNIlY REDEVELOPMENT AGENCY BY ROBERT B. BANTING, MAl, SRA STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ4 AND WAYNEB.LEWIS STATE.CERTlFIED GENERAL REAL ESTATE APPRAISER RZ2452 Willi ANDERSON & CARR, INC. 521 SOUTH OLIVE AVENUE WEST PALM BEACH, FWRIDA 33401 DATE OF VALUE: JUNE 30, 2009 DATE OF REPORT: JULY 15, 2009 FILE NO.: 290190.000 ROBERT B. BANTING, MAl, SRA, i'!tESJOht. StaU--C~rtifi~4 Ot/JrF3J RuJ Estale Apprai~~r R ' FkAW, ) ("KUU. .\l,\L ideE PRES!lJENl 'i1.I!C-'C"rtifi~d (il'on"l ~,~~) b\~\t ApI)f{\mr ~.'.Z) )'J{i ~1)r:m()N & C4U:1. IfliWC. ((((((<<<<<<<<<<<<<<((<<<<<<<<<<<<(((((((((((((((<<(<< <((( (~~{<({((((<({ ({((<{ Appraisers. Realtors >HH) ))>>)))) ))}) )))} >>)~)) )))>)) >))) >))))));})~, )'J) )))) >>)> ):.))}}))),).'}, 521 soumOLlVEAvENUE WEST PALM BEACH, FLORIDA 33401 W\vw_and~Y1ncarr com Telephone (561) 833.1661 rax (561) &33.0234 July 15, 2009 Qyalily 0e/V/CF cVnce 1'#7 Michael Simon Development Manager Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 RE: Appraisal of an operating restaurant/convenience store business known as Betty's Place located al 1010 North Seacrest Boulevard, Boynton Beach, Florida Dear Mr. Simon: Pursuant to your request, we have completed our estimate of the fair market value of the assets of the restaurant/convenience store business known as Betty's Place as of June 30, 2009. Our understanding is that the business is owned personally by Johnny Lee & Betty J. Roberts a husband and wife. The purpose of this valuation is to determine the fair market value of the assets for use by the client in connection with a proposed buyout, and, as such, should be restricted to this use. The term "fair market value" is defined herein as follows: "The price, expressed in terms of cash equivalents, at which property would change hands between a hypothetical williug and able buyer and a hypothetical willing and able seller, acting at arms length in an open and unrestricted market, when neither is under compulsion to buy or sell and both have reasonable knowledge of the relevant facts." Source: Guide to B.wn~~. Valuatioos. Volume 1. Fourteenth Edition (January 2004), Published by Practitioners Publishing Company, Appendix lA- 7, p.I,l!1. This definition comports favorably with the text ofIRS Revenue Ruling 59.60. The valuation process included a review of the valuation principles set forth by Revenue Ruling 59-60, including a review of financial and other data provided to us by the property owner, Mrs. Betty Roberts, as well as discussion concerning the operational performance of the business and of the economic and financial market conditions prevailing as of the valuation date. ii ~I)I:~S()~ & ~IR. I~C. Michael Simor Boynton Beach Community Redevelopment Agency July 15, 2009 The financial information on the income and expenses of the business was limited to copies of the 2006, 2007 and 2008 tax returns of Johnny and Betty Roberts a husband and wife filing jointly. These returns reportedly reflect only the business operations. In 2006 the business had a reported gross income of $198,950, cost of goods sold of $83,970 and a gross profit of $114,980. Operating expenses totaled $40,869 which resulted in taxable income of$74,111. In 2007 the business had a reported gross income of $184,960, cost of goods sold of $81,850 and a gross profit of $103,110. Operating expenses totaled $31,658 which resulted in taxable income of $71,452. In 2008 the business reported gross income of $188,890, cost of good sold of' $80,600 and a gross profit of $108,290. Operating expenses totaled $39,375 resulting in taxable income of $68,915. Based on the investigation and analyses discussed in this report, it is our opinion that the fair market value of the assets (including estimated inventory of $23,000) of Betty's Place as of June 30, 2009 was: " NINETY-FIVE THOUSAND DOLLARS $95 000 .. , .' This value estimate includes both the value of the existing FF & E and the value of the inventory which is assumed to be $23,000, 'but not the value of the real estate. The business is the single tenant in an owner occupied restaurant/convenience store. The building contains 1,044 square feet of gross enclosed (rentable) building area. The subject is located in Boynton Beach on the southeast corner North Seacrest Boulevard and Martin Luther King Boulevard. It is eight blocks north of Boynton Beach Boulevard and south of Gateway Boulevard. The subject site contains approximately 8,686 square feet, or 0.20 acres. The property address is 1010 North Seacrest Boulevard, Boynton Beach, Florida 33435. The building was built in 1985 and is in generally average condition for its age. ii ~U~I<~{)~ & {;AP~, li'Ol.. Michael Simon Boynton Beach Community Redevelopment Agency July 15,2009 We have no present or contemplated future interest in the property that is th<" subject of this report and have no personal interest or bias with respect to the parties involved. Neither our employment nor our compensation in connection with this report is in any way contingent upon the conclusions reached or values estimated and reflects our personal, unbiased professional judgment. This report sets forth all of the assumptions and limiting conditions affecting the analysis, values, and conclusions contained herein. This valuation report has been prepared in conformance with the "Uniform Standards of Professional Appraisal Practice" (USPSP) of the Appraisal Foundation, the standards of the National Association of Certified Valuation Analysts (NACV A), and the standards of the Institute of Business Appraisers (lBA) This value estimate assumes an exposure time of six to twelve months. The following presents a summary appraisal report. This letter mnst remain attached to the report, which contains 44 pages pins related exhibits and a Statement of General Assumptions and Limiting conditions, in order for the value opinion set forth to be considered valid. Respectfully submitted, ---.-- -- c. -. - - :> ,_.0:::-- - _ ._. ) ~ _J _~M."~~ Robert B. Banting, MAl, SRA State,Certified General Real Estate Appraiser RZ4 ;AJ~ 6~, Wayne B. Lewis State-Certified General Real Estate Appraiser RZ2452 111 I I I I I . __--1 RBB/WBL:cmp ~I)U?Sf)~ &: (;AI:1I;). I~C. TABLE OF CONTENTS Summary Of Important Facts And Conclusions ................................................................. 1 Certification.................... ........... ........ .......................... ..................... ...................................... 3 Assumptions And Limiting Conditions................................................................................4 Subject Property Photos .................................... .................. .................................... .............. 9 Four Leased Pinball Machines ........................................................................................... 15 Aerial Photographs ...................... ................ ............ ............... ................. ............................ 16 Plat Maps ........... .......................................... .......................... .................. ............................. 17 Location Map ......................................... ............................... ........................ ....................... 18 Interest Valued... .... .......... ...................................... ............. .... ......... .......... ............ ........ ...... 19 Purpose And Date Of Appraisal........................................................................................19 Premise Of Value................................................................................................................. 19 Fair Market Value ...............................................................................................................19 Definition Of Value ......................... ............ ................................... ..................................... 19 Conclusion Of Value ........................................... ......... ................................................ ....... 19 Description Of Assignment................................................................................................. 19 Summary Description Of The Company............................................................................ 20 Organization And Ownership ............................................... .............................................. 20 Scope Of Analysis And Sources Of Information ..............................................................20 Intended Use And User ...................................................................................................... 21 Client ............................................. ........................... ......................... .................... ................ 21 Personal Property, Furniture, Fixtures And Equipment.................................................. 22 Typical Buyer Profile .... ............. ..........................................................................................22 Palm Beach County Data ....................................................................................................23 Neighborhood Analysis ....................................................................................................... 26 Boynton Beach Neighborhood Analysis ............................................................................ 30 Exposure Time/Marketing Time ........................................................................................ 33 The Valuation Process......................... ................................................................................34 Discussion Of Financial Forecast ................................................. ......................................36 Market Approach........................................................................... ...................................... 40 Qualifications for Robert B. Banting, MAl, SRA State-Certified General R.E. Appraiser RZ4 Qualifications for Wayne B. Lewis State-Certified General R.E. Appraiser RZ2452 Addendum: Engagement Letter ~[)~t;l~()~ 8. €;A~~. I~C. SUMMARY OF IMPOR1'ANT FACTS AND CONCLUSJONR Client: Michael Simon, Development Manager, Boynton Beach Community Redevelopment Agency Ownership Johnny Lee & Betty J. Roberts Property Rights Appraised: Fair Market Value of a Going Concern (Business Value) Special Assumptions Reference: See Assumptions and Limiting Conditions. Location: The site is located on the southeast corner of North Seacrest Boulevard and Martin Luther King Boulevard, in Boynton Beach. The property address is 1010 North Seacrest Boulevard, Boynton Beach, FL 33435. Site/Land Area: 8,686 square feet, or 0.20 acres (per Palm Beach County Property Appraisers data) Building Size: 1,044 gross enclosed square feet Current Use: Privately owned restaurant and lake away business with beer and wine sales Highest and Best Use: Continuation of existing use Marketing Time: Six months to one year Final Value Conclusion: $95,000 AN[)~J2~()~ &: CAJ2J2. I~C. I Date of Value: Date of Report: Appraisers: 2 June 30, 2009 July 15, 2009 Robert B. Banting, MAl, SRA State-Certified General Real Estate Appraiser RZ4 Wayne B. Lewis State-Certified General Real Estate Appraiser RZ2452 ",,,,,I)l::12S()N ~ L4.I;>I;>. .""c. r"'.'----"-..-----,..,.- CERTfFI CA 1'LO N I certify that, to the best of my knowledge and belicf: The statements of fact contained ill this report arc true and COil ec The reported analyses. opinions, find conclusions are limited only by the reponed assumption:'. and limiting conditions, and are my personal, impartial, and unbiased professional analy~e~, opinions, conclusions, and reco1l1mendations. I have no present or prospective interest in the property that is the subject of this report, and J have no personal interest with respect to the parties involved. I have no bias with respect to any property thaI is fhe subject of this report or 10 the partie::; involved with thi!'; assignment. My engagement in this assignment \ViiS 1101 contingent upon r1eveloping or reporting predetermined results, My compensation for com,pIeting this assignment is not contingent upon the development 01 reporthlg of il 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, 01 the occurrence of a subsequent event directly related to the intended use of this appraisal. The reported analyses, opinions, and conclusions were developed 1 and this report has been prepared. in conformity ,,"th the requirements of the Code of Profession at Ethics & Standards of Professional Appraisal Practice of tbe Appraisal Inslilute. which include the Uniform Standards of Professional Appraisal Practice, TIle use of this report is subject to the requirements of the Appraisal lnstitute relating to review by its duly authorized representatives, Robert R Banting ~1AI, 8RA and Wayne 8. Lewis have llH:lde a r~rsonal illspection of the property that is the subject of this report. No one provided significant real property appraisal Ol appraisal consulting assistance to the person signing this certification. As of the date of this reporl, Robert B. Banting MAl, SRA has completed the continuing education program of the Appraisallnslitute, This appraisal \Vas not made, nor was the appraisal rendered on the basis of a requested , ~;~~:~r~~~..;m:r;"2"" ~C~SRA 4aYn~s) State~Certified General SUite-Certified General Real Estate Appraiser RZA Real Estate Appraiser RZ2452 , ~[)~~{)fol! &.: C~J2. I~C. ASSUMPTIONS AND LIMITING CONDITIONS 1. Unless othetwise stated, the value appearing in this appraisal represents our opinion of the market value or the value defined AS OF THE DATE SPECIFlEn. Values of real estate are affected by national and local economic conditions and consequently will vary with future changes in such conditions. 2. Possession of this report or any copy thereof does not carry with it the right of publication nor may it be used for other than its intended use. The physical report(s) remains the property of the appraiser for the use of the client. The fee being 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 Anderson & Carr, Inc. and then only in its entirety. 3. Neither all nor any part of the contents of this report shall be conveyed to the public through advertising, public relations efforts, news, sales or other media witbout written consent and approval of an officer of Anderson & Carr, Inc. nor may any reference be made in such public communication to the Appraisal Institute or the MAl, SRA or SRP A designations. 4. The appraiser may not divulge the material contents of the report, analytical findings or conclusions, or give a copy.of the report to anyone other than the client or his designee, as specified in writing except as may be required by the Appraisal Institute, as they may request in confidence for ethics enforcement or by a court of law or body with the power of subpoena. 5. Liability of Andersou & Carr, Inc. and its employees is limited to the fee collected for the appraisal. There is no accountability or liability to any tbird party. 6. It is assumed that there are no hidden or unapparent conditions of tbe property, subsoil or structures which make it more or less valuable. The appraiser 8Ssumes no responsibility for such conditions or the engineering which might be reqnired to discover these facts. 7. This appraisal is to be used only in its entirety. All conclusions and opinions concerning the analysis which are set forth in the report were prepared by the appraisers whose signatures appear on the appraisal report. No change of any item in the report shall be made by anyone other than the appraiser and the appraiser and firm shall have no responsibility if any such unauthorized change is made. 4 ~UI:I;)S()"-' & (;"-I;>R. 1"-'(, 8. No responsibility is assumed for matters legal in character or nature. nor matters 01 sUIVey, 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 ill 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 subcontractors. TIle comparable data relied upon in this report has been confirmed with aile or more parties familiar with the transaction or from affidavit when possible. All are considered appropriate for inclusion to the best of our knowledge and belief. 10. The contract for appraisal, consultation or analytical seIVice is fulfilled and the total fee payable upon completion of the report. The appraiser or those assisting the preparation of the report will not be asked or required to give testimony in court or hearing because of having made the appraisal iu full or in part; nor engaged in post- appraisal consultation with client or third parties, except under separate and special arrangement and at an additional fee. 11. The sketches and maps in this report are included to assist the reader and are not necessarily to scale. Various photos, if any, are included for the same purpose and are not intended to represent the property in other than actual status, as of the date of the photos. 12. Unless othelWise stated in this report, the existence of hazardous material, which mayor may not be present on the property, was not obselVed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser, however, is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentialJy hazardous materials may affect the value of the property. The value estimate is predicated on the assumption that there is no such material on or in the property that would cause a loss in value. No responsibility is assumed for any such conditions, or for any expertise or engineering knowledge required to discover them. The client is urged to retain an expert in this field, if desired, 13. This appraisal has been made in confomlance with the Professional Standards of the National Association of Certified Valuation Analysts (NACV A), the Institute of Business Appraisers (IBA) and the Uniform Standards of Professional Appraisal Practice (USPAP) of the Appraisal Foundation. 5 ~1)~J2i()/l.1 &: CU1V. I""C. 14. No environmental or impact studies, special market studies or analysis, highes: 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 0: analysis or previous study or analysis, subsequently becoming known to him. 15. The value estimated in this appraisal report is gross without consideration given to any encumbrance, restriction or question of title, unless specifically defined. The estimate of value in the appraisal report is not based in whole or in part upon the race, color or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 16. This appraisal report has been prepared for the exclusive benefit of the client, Boynton Beach Community Redevelopment Agency. It may not be used or relied upon by any other party. Any party who uses or relies upon any infonnation in this report, without the preparer's written consent, does so at his own risk. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions and limiting conditions of this assignment. 17. No responsibility is taken for changes in Market Conditions and no obligation is assnmed to revise this report to reflect events or conditions that occur subsequent to the date hereof. If, after the appraisal report is issued, Anderson & Carr, Ine. becomes aware of any information concerning the subject entity which would, in our judgment materially change the appraised values as of the valuation date, then Anderson & Carr, Inc. has the sole option to notify the client (and any other known recipients of the report, that the report is withdrawn and there should be no reliance thereon. In this event, Anderson & Carr, may issue revised reports and you shall be responsible for any professional fees for the revision of the reports. 18. It is assumed that all required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can readily be obtained or renewed for any use on which the value estimate in this report is based. 19. Full compliance with all applicable federal, state and local zoning, use, environmental, and similar laws and regulations is assumed, uoless othenvise stated. 20. Responsible ownership and competent management are assumed. 21. The opinion of value is predicated on the financial structure prevailing as of the date of this appraisal. 6 4N1l1'~S()"," & C4.tl~. I~C. 22. Due to the economic and individnai motivational influences which may affect the sale of a business interest, the appraiser assumes no responsibility for the actual price of any of the subject business interest if sold or transferred. The business could sell for substantially more or less than the value derived herein, and no guarantee is made on the value conclusion. In addition, we have no obligation to revise tJris report based on !lIe actual sale. 23. This report may not be included or referred to in any Securities and Exchange Commission filing or other public document, except as required by law. 24. If the services rendered prove to be faulty or defective by reason of failure to meet recognized professional appraisal standards, it is agreed that the faulty portion shall be redone without additional cost to a maximum amount equivalent to the cost at services rendered for this engagement. The foregoing shall constitnte sole liability with respect to the accuracy and completeness of the work and activities involved in the presentation of this appraisal. 25. The appraisers, by reason of performing this valuation and preparing this report, are not to be required to give expert testimony nor to be in attendance in court or at any government hearing with reference to the matters contained herein unless prior arrangements have been made with us regarding such additional work. 26. This valnation report does not calculate any tax liabilities or consequences that may result from a sale of the company or an interest therein. The type of sale would affect the net proceeds available to the seller. 27. No attempt was made to verify the accuracy of financial data provided by management or the shareholders. All data was assumed to be valid for lhe purposes of this report. 28. The premise of value utilized in this report is going concern. No calculation was made and no responsibility is taken for any decrease in goodwill due to the loss of a key employee or shareholder or the establishment of a competitive business. 29. The financial information presented is included solely to assist ill the development of the value conclusion presented ill this report, and they should not be used to obtain credit or for allY other purpose. These presentations do not include any disclosures required by the gnidelines established by the American Institute of Certified Public Accountants for the presentation of a financial forecast. We have not compiled or examined these presentations and express no assurance on them. The actual results may vary from the forecasts, and the variations may be material. In accordance with the terms of our engagement, this report and the accompanying forecast are restricted to the internal use and may not be shown to any third party for any purpose. 7 .-J ~[)~J2S()~ & C.<U2~. I~{;. 30. The fair market value of the assets of Betty's Place was appraised using an invested capital or debt free valuation basis. The term invested capital is defined as both interest bearing debt holders and equity holders. In other words, the valuation basis using invested capital assumes that all dept holders are equivalent to all equity holders, and the fair market of the subject company reflects the value as it would be without any outstanding debt. 22. ACCEPTANCE OF, AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDIDONS. 8 ~()t:VS()~ &: t:AOO, I~t:. I I SUBJECT PROPERTY PHOTOS Subject's North Side And Front Viewing Southeast Subject's South Side And Front Viewing Northeast 9 ~[)t:~~()~ & t:~~. .,...(;. Rear And Side View Of Subject Facing Southwest - Viewing East Along Martin Luther King Boulevard 10 r 4~()t:VS~ &: {;~V. I~t:. Viewing North Along North Seacrest Boulevard .,... Kitchen Area 11 r.... ~1)r:Vi()~ &: t:~V. I~t:. Three Pitco Frialators r Southbend Six Burner Gas Stove With Griddle r 12 ~UI:.VS()~ &: C..u:?V. I~. Walk In Cooler door Five Door Reach In Cooler Front 13 (.... ~1)r:VS()~ &: t:4V~. I~t:. f Men's Room (' 14 Ladies Room ~1)t:~S()~ &: t:~t:? I~C. 15 Four Leased Pinball Machines f ... ~1)r:VS()~ &: C4V~. I~C. AERIAL PHOTOGRAPHS "... \ f; a~. .Lit I , ~ t... ~I; "'~ 1. . \ '" t;J I '. ~ . , , ., ! ;j: .~ ,~ .~ .I~~ I ~ ~"it'~ \ ~f < * ~'!:<l' '. r-" 16 ~1)r:VS()/ll( &: CAVt:1. I~C. PLAT MAPS :.:.:..:. ".(*.. ':'~I ::::!I: ~)~' ;~h · ;::t:1: 'iJi~1 Itj:rl,: ..... ..... :.:::.: ~::'::.. ':;:':. .. . . .. .. :r~:I: '~I."""I'" .................-.. :=':':::':::'::":::':: :::=::: .:::.:~ :::':::" '~::~:' :::::.; -.- .- 1'.....:Oe-4t tllW: 1002 MNITII' LutHI!!1 .-.-..-- Subject Property a ~ o o o ~ 0030 17 -I .:-. -- '\" ~jJ"- '1' I I ... I I~'~ ,I ,\~..;; I .:J.. _.l! I ".,"""I'~"':' I .. A.; -, -I ....' ....0:.; ~' ..' v' /.1 '.. -,.. ~ I ,-. I I \ .. I r ... ~.- .; -- r. r ~ .... -. 4~ :;-, >- -I · .. .- I:'! ' I tt,l ./ .:.r-:-I I !l' I-~ I I,' t/ . I.;' 1I "r . ~~~4 ~ ~.l/f~~';-t (Eij -, ~- ~ II f~ ~[)I:~S()~ & CAVt:? I~C. LOCATION MAP CE1cpedla /fypolu~? bing" l~i OJ iliiii 'I Jt li~ g Gattway Blvd la lQ I r/'~: o (5 I ;~ Blvd ~ f. Lslie Wodh ~ Q,~-1 HE 201h Ave !i! 1 j 807.1 Mdorole \ ~~k 51 "1 J:z fIE 16th Ave W IJtaffll\ ..'1 ~ .' ~ P,rl: R~oe HE 15th AIt I ~l NE Hlh Ave M ~ore Dr 1M 131h ~ve I , 11 :a: fIE 131h Ave SoIih Rd ' I tIE 11th Ave I , 11 \, ~ I ~f 10th Ave 1;1 ~ jfi Its! ~ Q (, S ~ ~ i:1) ~ @"1A1 t Old Boynton ~ I ! I .'! ~t ?t BOYllto,{ 't Ocean RIdge. ttll~ ~lQl. Beach / . ':J'I ~ ' ~~) DO- - fL5) I tv oCean AIIt ~ W Ocean Ave VtEOmn vel; l,i04) !i { I: : (- 0c:U1\(lr I'Jl ~~ SW Srd Ave II I I lu 3 ! SW Slh Ave f I~ J 0 @V l5:~ ~ f ~ I ~ a lQ so ~ SW 7th Ave ~ I la iii ~ 6 i C: r:) SW 9th Ave lQ I ~ f .! 4-rt ~ - ~ : !r if ~ ~ 'I( ~OO9 r&,~"aCtt <<'-l_ "AtllQ.I04/"ltl. .........1 ;; I ~ 'I loJe lQ I tI (... 18 4N1Dn'ro~(0/l\! &- c.4.~12. I~C. INTEREST VALUED The interest valued are the assets of Betty's Place, " privately held restaurant and take, out establishment owned by Johnny Lee and Betty), Roberts, a husband and wife. PURPOSE AND DATE OF APPRAISAL The purpose of this assignment is to estimate the As-Is fair market value of the assets of Betty's Place for use by the client for potential acquisition as of June 30,2009, the date of our inspection and photographs. PREMISE OF VALUE Fair market value DEFINITION OF VALUE "The price, expressed in terms of cash equivalents, at which property would change hands between a hypothetical willing and able buyer and a hypothetical willing and able seller, acting at arms length in an open and unrestricted market, when neither is under compulsion to buy or sell and both have reasonable knowledge of the relevant facts." Source: Guide to Business Valuations. Volume 1. Fourteenth Edition (January 2004), Published by Practitioners Publishing Company, Appendix IA-7. pJ.llL This definition compoTts [,,'oTably 1Y1~h the text of IRS Revenue Ruling 59-60. CONCLUSION OF VALUE The fair market value of the assets of Betty's Place as of June 30, 2009 IS $95,000. DESCRIPTION OF ASSIGNMENT This valuation was performed to express an opinion of the fair market value of the assets of Betty's Place as of June 30, 2009, for use by the client for potential acquisition. 19 ~I)~~()~ '" ~. I~C. SUMMARY DESCRIPI'ION OF THE COMPANY Betty's Place is a restaurant and take,out business open from 6;00 pm to 2:00 am seven days a week. The menu centers around chicken wings, hamburgers and hotdogs with some short order sandwiches. The take-out aspect of the business includes food as well as beer and wine package sales. The business reportedly does its strougest business duriug sporting events when patrons gather to watch the games. The company has been operated by the same husband and wife team since the business began following the construction of the building in 1985. The business is located on the southeast corner of North Seacrest Boulevard and Martin Luther King Boulevard. The site is approximately 8 blocks north of Boynton Beach Boulevard and south of Gateway Boulevard in Boynton Beach, Florida. The building contains 1,044 square feet and the subject site contains 8,686 square feet, or 0.20 acres. The property address is 1010 North Seacrest Boulevard, Boynton Beach, Florida 33435. ORGANIZATION AND OWNERSHIP All indications are that the business is owned personally by the owners of the real estate, Johnny Lee and Betty J. Roberts. We have been provided with three years of income tax statements from the couple who report the earning of the business as personal income as a married couple filing jointly on lRS for 1040. SCOPE OF ANALYSIS AND SOURCES OF INFORMATION Our valuation analysis included consideration of the factors affecting the operation of the business and its ability to generate future investment returns, as set forth in Revenue Ruling 59.60 and subsequent related rulings. These factors are as follows: 1 The nature of the business and the history of the enterprise from its inception. 2. The economic outlook in general and the condition and outlook of the specific industry in particular. 3. The book value of the stock and the financial condition of the business. 4. The earning capacity of the company. 5. The dividend-paying capacity. 6. Whether or not the enterprise has goodwill or other intangible value. 20 ~()~J2S{)i'ol & {;"-RR. ti'olL 7. Sales of the stock and the size of the block of stock valued 8. The market price of stocks of corporations engaged in the same 0: similar line of business having their stocks actively traded in a free am open market, either on an exchange or over the counter. IRS tax return documents provided by Betty J. Roberts as well as intervle" answers were used for this valuation report. In addition, research on public databases and private data sources was conducted for additional information INTENDED USE AND USER The intended use of this appraisal is to estimate fair market value for use by our client, Boynton Beach Community Redevelopment Agency, for potential acquisition purposes. This report has been prepared utilizing generally accepted appraisal guidelines, techniques and methodologies as contained within the Uniform Standard of Professional Practice (USPAP), as promulgated by the Appraisal Foundation. As a State,Certified, Licensed or Registered Trainee Appraiser, the appraisers preparing this report are bound by these standards and regulated by the Florida Real Estate Appraisal Board of the Florida Department of Professional Regulation. CLIENT Michael Simon Development Manager Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 21 ~ut:J2'()1loI & CAW. I~C. PERSONAL PROPERTY, FURNITURE, FIXTURES AND EQUIPMENT This appraised value includes the personal property, furniture, fixtures and equipment (FF&E), necessary for the operation of the intended nse of the property. On our inspection we noted the following primary items of FF& E Three fryer unit Pitco Frialator Southbend six burner stove with griddle Three basin sink Free standing work table with food warmer/holding area Two free standing freezers Walk in cooler with five reach in doors for beer, wine and soft drink sales. Two eight top tables and assorted folding chairs. The existing eight pinball machines are reportedly leased and are not included in the value estimated in this report. TYPICAL BUYER PROFILE We found that buyers of similar businesses in this market tend to be mom and pop type operators similar to the current ownership. 22 .M~l)I'I)S()~ 8: CAIi;?i:l. 1100/(.. PALM BEACH COUNTY DATA 'l, " 34.966 M',A It 1 I Ii . ,'j. "" .~1\~9.( '~ 3345{i :'., 1 t I , , "~3438 : f' ',.- I " 33'78 . , I 33470 3.1418 '710 " 33493 Ufl.30 :eo 441 T ..1 .~. PAL M D E A C 'It :.~ : 33414 FLORIQA , ..; ,,; to; :z:~ "" " " II ;;!; M r"-' I I , I ~;~~'''i!\'.!l , . ~;":, t~,':::~'.,.,~ ;"'r,' . Palm Beach County has been noted as a premier location since the first army fort built in Jupiter in 1838 and Henry Flagler extended his railroad from northern locales and built the Breakers Hotel in 1896. The county, located along Florida's southeastern coast, includes the world famous Town of Palm Beach on the Atlantic Ocean. The county had a population of 1,131,184 persons in 2000. The estimate for the 2007 population is 1,323,572 persons, an increase of 17.0 percent over the 2000 censlls. The vast majority of the growth has been a result of in-migration from the north as well as from Dade and Broward Counties to the south. As of the 2005 census estimate Palm Beach County ranked third in population in Florida. The county encompasses 1,974 sqnare miles with world renowned beaches along its entire east coast. 23 A/lo/()I:I:!S()~ &: C~(;l. I~C. Tourism is the county's leading industry, employing over 70,000 people and generating about $2 billion dollars annually. The other multi-billion dollar industries have been construction and agriculture. The expanded (1988) Palm Beach International Airport experienced one of its busiest years in 2007 facilitating 1 million flights, an increase of 1.8 percent over 2006. The airports growth has necessitated new direct access overpass interchanges with 1-95 (2004). Tourism and in-migration of retirees are the forces that drive the county's growth. Major private-sector employers include the Hospital Corporation of America, Plorida Power & Light, Office Depot, Boca Raton Resort & Club, US Sugar Corporation, Palm Beach Newspapers, and BellSouth, each with over 1,000 employers. However, the largest employer is the Palm Beach County School Board with just over 21,700 employees and a $3.6 billion dollar budget for the 2007-2008 school year. The county has the highest total effective buying powel' in the state. The climate and recreational opportunities attract wealthy individuals and families. The county boasts forty-seven miles of coastline, along with the Intracoastal Waterway, as well as a bounty of attractions, events, and festivals. With over 140 golf courses, the county is considered the "golf capital of the world." The county includes both unincorporated areas and incorporated municipalities; the largest of which is West Palm Beach, the county seat. Boca Raton, located at the south end of the county is the second largest city, and one of the highest income retail trade areas in the U.S. The town of Palm Beach is one of the wealthiest communities in the country. Palm Beach County had a 2006 real estate tax base of more than 668,686 properties valued at nearly $233 billion, representing a value increase of roughly 29% over 2005 figures. The residential market accounted for roughly 77% of the tax role with 18% for commercial properties. The balance of the tax roll was made up of agricultural properties and tangible personal property, Some factors that have fed the county's past growth have diminished. The county has one of the highest tax burdens in Florida and property insurance is no longer affordable. Additionally, recent local political corruption has made national headlines and residential construction has dramatically declined. However, the county retains a large reselVe fund and the only AAA bond rating in the State 24 MoIU[,~S()i'o! & CtU:?~. I~c. Conclusion Although in recent years population growth has slowed, and the residential market has heen in It decline, the long term outlook for the county remains positive. As population grows over the long term, more supporting commercial, industrial and services development will be required. These factors combined with a finite quantity of developable land create a positive real estate outlook for the long term. 25 r ~I)~VS()~ & C4VV, I~C. NEIGHBORHOOD ANALYSIS (' '......'c.h The City of Boynton Beach is located in the eastern part of Palm Beach County covering an area of approximately 15.5 square miles. The city is located eleven miles south of Palm Beach, thirty-three miles north of Ft. Lauderdale, and has an annual average temperature of 74.7 degrees. This is made possible in part by the cool Atlantic Ocean breezes in the summer and in the winter by the influence of the Gulfstream just a mile off shore. When compared with the history of other American or Florida cities, the history of Boynton Beach is not a long one. The area was not settled in large numbers until Henry Flagler's railroad, the Florida East Coast railroad, was built from Daytona to Miami in 1894 to 1896. In the 1920's a building boom occurred throughout all of South Florida. The leading Palm Beach architect was Addison Mizner. Mizner left a legacy of Spanish-Mediterranean style structures in Palm Beach County. The Boynton Woman's Club, built in 1925 as a memorial to the town founder, is an original example of Mizner Architecture now included on the National Register of Historic Places. r 26 ~()r:VS()~ & CAVV. I~C. ....-..., t..... ,.,.. ~ .:..,.t..,.... _. -_:~- - -:.. ".;.. ~ " I I ! I ~i ) - i 1 .i The basis of Boynton Beach's economy, until about World War II, was agriculture. The main crops were fruits and vegetables. Today, and for the last ten years, the economic base of the Boynton Beach area has been land development. The area is very dependent on the buying and selling of land and the construction of dweJling units and support facilities to house and support the in-migration of retired people from the northern areas of the United States. These people have chosen to Jive their remaining years in the warm climate of South Florida. The in-migration of retirees has caused significant population growth in Boynton Beach in years. The 1990 population, according to the U.S. Census Bureau, was 46,284. The 2000 census count was 60,389 people, an increase of 30.5% over the ten year period. The 2006 population was estimated by the US Census Bureau to be 68,284 which indicates an average increase of 1,316 persons per year over the six year period. The Greater Boynton Beach area includes the area south of Hypoluxo Road, west of the coast, north of the L-30 Canal, and east of the Everglades Wildlife Refuge. Along with the City, it includes the very small municipalities of Briny Breezes, Ocean Ridge, Gulfstream, the Village of Golf, and a 50 square mile portion of unincorporated Palm Beach County. 27 4.~I)~J2S()"-I &: c,u;>~. I~C. Of the total adult population approximately forty-three percent is fifty-five years old or more. Fifty percent of the total adult population in Boynton Beach is considered retired. The median age, however, is only 43.5 years according to Nielsen Claritas figures. The average household size in 2005 was 2.30 people in Greater Boynton Beach. Single unattached houses and condominiulllS account for approximately 73 percent of the dwelling units. Home ownership is put at approximately 63 percent. Total household income of $25,000 or more applies to seventy-three percent, of total households of Boynton Beach. This study indicates that Greater Boynton Beach is a typical South Florida area with a large number of retirees as part of its population. Due to the rapid population growth, many service, professional, and retail businesses have been expanded or created to cater to the needs of increased growth. Most businesses are located along Federal Highway, Boynton Beach Boulevard, Ocean Avenue, Woolbright Road, and Congress Avenue. According to the City of Boynton Beach Planning Department, the city covers some 15.26 square miles. An estimated 1.28 square miles are planned to be added through future annexations. The Greater Boynton area amounts to some 49.8 square miles. Growth has been so dynamic that in the early 1990's a community plan was created for the west Boynton area. The plans recommendations are now part of the Palm Beach County Comprehensive Plan. Significant efforts have been made to attract new business and industry to the Boynton Beach community. The success of this effort is reflected by the presence of the Boynton Beach Mall, AP AC, and various other smaller businesses that have moved into or are planning to move into this community. The development of Quantum Park, a 562 acre planned industrial development, is attracting more businesses particularly in light of the Gateway Boulevard (N.W. 22nd Avenue) 1-95 interchange at the project. This expansion of business should attract younger working age people and their families to this area. This in turn should cause an expansion of service, professional, retail businesses, and employment, catering to the needs of this population. 28 AN()~J2S()~ &: CAPPo F/ii;/C, Of considerable importance is the new Boynton Beach High School in Quamun Park. The $37.8 million facility was completed in August of 2001 housing 2,50' students. Included is a 1,880 seat gymnasium, outdoor tact, baseball, softba! and football fields and a closed-circuit television production studio. Enhancjll~ the school's and Quantum Park's access is the widening of Gateway Boulevan from 1-95 to US Highway 1. Boynton Beach is also attempting to revitalize several areas of the city. In 199i Urban Design and David Plummer & Associates designed a city widt Redevelopment Master Plan, Vision 20/20. The plan calls for many areas to bt: enhanced with street beautification projects, parks and community services. Most prominent is Boynton Marina project. The development, located just north of Ocean Avenue on the west side of the Intracoastal Waterway, was developed in approximately 2006. The project coincided with redevelopment of Ocean Avenue from Seacrest Boulevard to the new bridge at tbe Intracoastal Watenvay. Complementing this urban redevelopment is the Blue Lagoon Stormwater Facility to the north. The facility provides drainage for the project and has lagoon front walks with a central gazebo. Much of the growth and many contributing factors in Boynton Beach's presence in today's market have taken place, not in the city itself, but in the Greater Boynton area. The suburban area has grown extremely rapidly over the past few years with numerous new residential planned unit developments and major shopping centers. West of this area lies the Palm Beach County Agricultural Reserve, which is destined for future residential development. Disregarding city boundaries, the community has expanded westward to the Florida Turnpike. 29 r ~()I:VS()'" &: CA12V. ''''C. BOYNTON BEACH NEIGHBORHOOD ANALYSIS A neighborhood is defined as: "A group of complementary land uses; a congmous grouping of inhabitants, buildings, or business enterprises." SOURCE: Dictionary of Real Estate Appraisal, Fourth Editiou, 2002. c - I - ~~~ .,,'-' :-dt:t I.. >>>, ---i,4 m_ I.110 ,. _.~ J r...... t. '''''~VI",,~",,~''''''1l'1' ".~'.IIf'\.."' (' 30 AJIoIIDi:I;>SO,! &.: C~P. I~C. The subject property is located III urban Boynlon Beach, in the Heart of Boynton Neighborhood Master Plan district. The neighborhood's boundaries are 1,95 to the west, FEe Railroad tracks 10 the east, Boynton Beach Canal (C- 16) to the north, and approximately Northeast,Northwest 4'h Avenue to the south. The redevelopment district boundaries are Northeast 3'd Avenue to the north, Southeast 2nd Avenue to the south, Seacrest Boulevard to the west (1-95 in the Heart of Boynton Neighborhood Master Plan) and the FEC Railroad tracks to the east. The district is characterized by older residential and commercial properties along the major thoroughfares with moderately priced single family residences in the interior neighborhoods. The neighborhood has good access. The primary thoroughfares are Boynton Beach Boulevard, Pederal Highway, and Ocean Avenue, Gateway Boulevard and Seacrest Boulevard. Boynton Beach and Gateway Boulevards provide access to the Congress Avenue commercialJretail district, as well as residential areas lying west of the city. Ocean Avenue provides access to State Road AlA and wealthy beach communities. Seacrest Boulevard provides north -south access through the neighborhood connecting to Gateway Boulevard to the north and Boynton Beach Boulevard to the south, both provide access to the commercial and residential areas west of the redevelopment area. Federal Highway traverses Palm Beach County's older coastal neighborhoods. PederaI Highway also provides access to Atlantic Avenue in downtown Delray Beach, an older commercial district that is redeveloping as a thriving restaurant and nightlife area. The City of Boynton Beach has a conceptual redevelopment plan for the district. Historic neighborhoods continue to undergo streetscape modifications; one of the goals is to make it a series of pedestrian friendly residential properties along with the public use properties within the district. All things considered, this neighborhood is likely to experience stable, property and business values for the long term foreseeable future. It is yet to be seen, as hoped by the city and local business owners, if the completion of the on'going projects will create the momentum necessary to spur a wave of new private redevelopment. 31 r ~()I:VSf)~ &: CAVV. I~C. . ill i , I I ' I , , , , , .f I . I I I i , :' , f /1 .1 A' T " (' [\ lq "\) \ ~_ _ ~_ _ _!lII "'Ill ~ct _. _ _ _ fIloqIqDloInUn _.bdrl'n~a~ Nllr.,., lh~1111 . ....IIIlM FlnauI (JfW.I1 _Lf_tQ , NlloV" (ll1\.U1 NtIlUIItIV .....lal In ProPll8d Land U81 Map A' , '"---~"' ~- bIll.,... ..." If ht81. CratllIIlC, "$I,..., PlCI In'ttCIIIICUWIII Rllure 16 r 32 ""[)~E;lj()~ 14.: CAl?I2. I~C. EXPOSURE TIMElMARKETING TIMf Exposure time is the estimated length of time the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at fair market value on the effective date of the appraisal: a retrospective estimate based on an analysis of past events assuming a competitive and open market. Exposure time is always presumed to occur prior to the effective date of the appraisal. The overall concept of reasonable exposure encompasses not only adequate, sufficient and reasonable time but also adequate, sufficient and reasonable effort. Exposure time is different for various types of real estate and value ranges and under various market conditions. Source: Appraisal Standards Board of the Appraisal Foundation, Statement on Appraisal Standards No.6, Fourth Edition, 2002 Marketing time is defined in Advisory Opinion G-7 as "an estimate of tbe amount of time it might take to sell a property interest in real estate at the estimated market value level during the period immediately after the effective date of an appraisal". The advisory opinion also states that "the request to estimate a reasonable marketing time exceeds the normal information required for the conduct of the appraisal process, and should be treated separately from that process." The market for mom and pop type businesses in the area of the subject appears to have been relatively stable in recent years. The appraisers have consulted business brokers currently active in the market for businesses of this type who indicated that an exposure time of 6 to 12 months would be reasonable. Looking forward, we see no basis to conclude that marketing time would differ from exposure time. 33 Noo/Uf'VS()~ &: ~J2. I~C. THE VALUATION PROCESS Traditionally, the development of a fair market value opinion is based on the consideration of one or more valuation methodologies or techniques falling under the three fundamental approaches to valuation: the asset approach, the income approach, and the market approach. The asset approach measures the value of an asset by the cost to reconstruct or replace it with another of like utility. When applied to the valuation of equity interests in businesses, value is based on the net aggregate fair market value of the entities underlying assets. The technique entails a restatement of the balance sheet of the enterprise, substituting the fair market value of its assets and liabilities for their book values. The resulting equity is reflective of a 100 percent ownership interest in the business. This approach is frequently used in valuing holding companies or capital intensive firms. It is not necessarily an appropriate valuation approach for companies having significant intangible value or earnings. The income approach measures the value of an asset by the present value of its future economic benefits. These benefits can include earnings, cost savings, tax deductions, and proceeds from its disposition. When applied to equity interests in businesses, value indications are developed by discounting expected cash flows to their present value at a rate of return that incorporates the risk-free rate for the use of funds, the expected rate of inflation, and risks associated with the particular investment. The discount rate selected is generally based upon rates of return available from alternative investments of similar type and quality as of the valuation date. The market approach measures the value of an asset through an analysis of sales or offerings of comparable property. This method is theoretically the most sound as it captures the dynamics of the marketplace. The ideal market place comparables are similar sized closely held companies within the same industry. These companies are potentially subject to corresponding economic, environmental, and political factors and are considered reasonable investment alternatives. Value indications derived under one or more of these approaches, if deemed appropriate, are then reconciled in consideration of the nature of the company under analysis to form an objective opinion of the fair market value. 34 "-"-I()U~SO/oi & [,;Al.~~. I~{;. In our "Jew, the value of the subject company is best indicated by an approach to value that gives greatest respect to the income producing abilities of the company for its owners. Both the Income Approach and ill this case the Market Approach accomplish this goal effectively. Accordingly we have developed value indications from these methods and present them her, We have elected not to utilize the Asset Approach due to the limited value of the underlying assets (FF & E) of the Company. We have recreated the income statements for the company based 011 three years of tax retums to arrive at estimates of both forecast Gross Income and forecast Cash Flow for use in the market approach to apply market generated multipliers for similar businesses to attain market supported estimates of the fair market value of the assets of Betty's Place. A copy of the recreated Financial History and Forecast is presented on the following page. 35 4NKJ2S{)~ & CM21;). I~C. Financial Historv & Fore~t For Betty's Place Yeal 2006 2007 2008 Forecast Gross Income $198,950 $184,960 $188,890 $190,000 Cost of Goods Sold $83.970 $81,850 $80 600 $82.000 Gross Profit $114,980 $103,110 $108,290 $108,000 Car & Truck Expenses $4,772 $4,986 $3,799 $4,000 Depreciation (Car) $3,264 $3,264 $4,480 $4,250 Insurance $2,675 $2,710 $2,640 $2,640 Repairs & Maintenance $3,130 $1,231 $1,065 $1,100 Supplies $2,211 $1,846 $1,180 $1,500 Taxes & Licenses $16,937 $9,401 $16,440 $16,500 UtilitieslWages $7,880 $8,220 $9,771 $8,000 Total Expenses $40,869 $31,658 $39,375 $37,990 Net Profit $74,111 $71,452 $68,915 $70,010 Add Back Personal Expense (Car) $8,036 $8,250 $8,279 $8,250 Normalized Cash Flow $82,147 $79,702 $77,194 $78,260 Real Estate Expense (Market Rent) - ~ Forecast Cash Flow to Business $54,770 Rounded to: $55,000 36 ~0'1/~ J,"f \rv tv. -"""II)EI:1~()!'lI &: CAt?I.i. f~c., DISCUSSION OF FINANCIAL FORECAST The financial information on the income and expenses of the business wa limited to copies of the 2006, 2007 and 2008 tax returns of Johnny and Bett' Roberts a husband and wife filing jointly. Gross Income In 2006 the business had a reported gross income of $198,950, cost of goods sold of $83,970 and a gross profit of $114,980. Operating expenses totaled $40,869 which resulted in taxable income of $74,111. In 2007 the business had a reported gross income of $184,960, cost of goods sold of $81,850 and a gross profit of $103,110. Operating expenses totaled $31,658 which resulted in taxable income of $71,452. In 2008 the business reported gross income of $188,890, cost of good sold of $80,600 and a gross profit of $108,290. Operating expenses totaled $39,375 resulting in taxable income of $68,915. The business has shown a very stable income. Based on this information we have forecast a gross income of $190,000 per year. Car & Truck Exoense and Depreciation (Personal) In 2006 car and truck expense and depreciation line items totaled $8,036. In 2007 car and truck expense and depreciation line items totaled $8,250. In 2008 car and truck expense and depreciation line items totaled $8,279. We have forecast this expense at $8,250. This is effectively a personal expense that varies based on the preferences of the owner. If the owner chose to spend more or less on car expense it should not have an overall effect on the fair market value of the business. We have chosen to add back this expense to achieve the normalized cash flow an investor could reasonably anticipate to attain. 37 ~1)~~()flII i: (A.OO. I""C. Insurance According to the business and property owner Betty Roberts, this line item covers insurance of the real estate. In the income approach used to value the real estate (under separate cover) we utilized the 2008 figure of $2,640. Since the later calculation of Market Rent is done on a triple net basis, this expense is expected to be the responsibility of the business. Repairs & Maintenance This line item has gone from a high of $3,130 in 2006 to a low of $1,065 in 2008. We have forecast $1,100 as a stabilized cost for this item of expense to the business owner. Suoolies This line item has gone from a high of $2,211 in 2006 to a low of $1,180 in 2008. We have forecast $1,500 as a stabilized cost for this item of expense to the bnsiness owner. Taxes & licenses This is somewhat of a catch all category which includes real estate tax, sales tax rent to video game owner and business licenses. We have forecast a tax expense of $16,500 in our analysis. As with the insurance expense, since the market rent is quoted on a triple net basis any property tax would be paid by the business. UtilitieslWa2es In 2006 and 2007 no utility expense was indicated but Wages of $7,880 and $8,220 were input on the tax returns. In 2008 the return indicated no wages but showed a utility expense of $9,771. According to the property and business owner, Betty Roberts, this should have been a utility expense in each year since she and her husband run the business and declare any income to the business as personal income. Net Profit The total forecast net profit figure for the business is $70,010. The total appears very reasonable based on the previous three years of total expense having been $74,111, $71,452 and $68,915 respectively. 38 ~[)~PS()N & C"",PP. 'N!~" Normalized Cash Flo\' Once the personal expenses related to the car and truck of the owners is addc( back, we achieve a normalized cash flow of $78,260. Real Estate Expense (Market Rent) Neither 2006, 2007 nor 2008 figures included any rent expense to the real estate Under separate cover, this firm has established both the value of the real estate in which this business operates at $250,000 and a fair market rental rate 01 $23,490 triple net. All additional standard expenses of utilities, taxes and maintenance appear in the current expense figures. Since the business would normally pay rent, we have deducted this as a typical expense. Forecast Cash Flow to Business Thus the business is currently operating at a stabilized and normalized profit level of approximately $78,260 - $23,490 = $54,770 which we have rounded to $55,000 39 ~U~l{S()flol &.: CAVJ2. I~(;. MARKET APPROACH In order to convert our Gross Income estimate of $190,000 and Cash Flow of $55,000 to fair market value indications, we have utilized the data base of BizBuySell.com to attain market derived multipliers for both the Gross Income and Cash Flow estimates BizBuySell.com maintains a national data base of sales of businesses of all types throughout the nation. It is the Internet's largest and most heavily trafficked business for sale marketplace, with more business for sale listings, users, and search activity than any other service. BizBuySelJ currently has an inventory of over 48,000 businesses for sale, and more than 700,000 monthly visits. BizBuySell also bas one of the largest databases of sale comparables for recently sold businesses and one of the industry's leading franchise directories. The company was founded in 1996 and acquired by LoopNet, Inc. in 2004. LoopNet operates tbe largest commercial real estate listing service online, with more than $500 billion of property listed for sale and 5.7 billion square feet of space for lease. We searched their data base for sales of small restaurant operations similar to tbe subject tbat had sold in Florida in the previous 12 month period. Our search revealed 65 sales of similar establishments in Florida in the previous 12 months. Sales included restaurant businesses with gross incomes ranging from $100,000 to $300,000 (subject is at $190,000) and cash flows ranging from $30,000 to $100,000 (subject is at $55,000). A summary of tbe data from that search is presented on the following pages. 40 ANI)~~~()/llI So: CAVP. 1/llI~. Business Description Date Statu, Sale Gross Cash Location Price Income Flow Fast Food Franchise / Pretzels in Mal: Merritt Island, FL 06/30/09 Sold $85,000 $200,066 $49,989 CafelPub Tampa Bay Area, FL 06/08/09 Sold $70,000 $138,050 $40,R62 Pizza &. Wings Restaurant. Pizzerja East HilIsborough Connty, FL 06/08/09 Sold $55,000 $185,500 $49,788 Florida Mall Cafe Orlando, FL 06/05/09 Sotd $40,000 $144,000 $30,000 Office bni/ding restaurallt Ft Laudetdale, FL 06/04/09 Sold $110,000 $141,492 $76,740 Beautiful office building reslaurant Maitland, FL 06/02109 Sotd $7R,000 $129,934 $73,504 Dcli / sandwichcs / corporatc catering Tampa Bay Area, FL 06/02/09 Sold $55,000 $181,703 $53,270 Coffee Shop DnTn Tampa Tampa, FL 06/01/09 Sotd $32,000 $270,000 $51.000 Longstanding !tatian Deli - Motivated Se... Orlando, FL OS/26/09 Sold $47,{KK) $150,127 $67.583 Great deal! Purchase a restaurallt for th... Orlalldo, FL OS/21/09 Sold $75,000 $286,945 $39,706 Italian Family Restaurant Greal Upscale ". Tampa, FL OS/21/09 Sold $69,000 $250,000 $40,000 Pizza & Wings and More Restauranl ' ... East Hillsborough County, FL 05/13109 Sold $50,000 $230,279 $49,788 Breakfast and lunch restaurant St. Petersburg, FL 05/12/09 Sold $99,000 $260,000 $97,000 Great Price for this well equipped cafe Central Florida, FL 05/12109 Sold $23,00U $120,000 $30,171, Breakfast & Lunch American/ Mexican St Petersburg, FL 05/08/09 Sold $129,OOU $288,000 $90,000 M-F Office Building Restaurant - downtow... Orlando, FL 04/29/09 Sold $83,000 $162,248 $43,826 Fast Casual Restaurant for sale in Orlando.. Orlando, FL 04/29/09 Sotd $50,000 $ I 10,000 $33,000 Busy Cafe / Restauranl / Coffee Shop Bradenton, FL 04/14/09 Sold $110,000 $228,000 $48,501l Recession Resistant Fast Food Restauranf Brevard County, FL 04/13/09 Sold $60,000 $159,771 $59,472 Coffee/ice cream shop,IJunch cafe in tour... Fort Myers, FL 04/10/09 Sold $129,90(1 $269.71~ $64.441 Restaurant Cafe lor sale in Bradellton Bradenton, FL 04/01/09 Sold $69,oon $291,757 $69,825 BrcakfastlLunch Restaurant Dunedin, FL 03123/09 Sold $65,OO() $265,000 ~72,75R 41 4.~[)~m(),.... '" C<U;lE;!. I~{;. Business Description Date Status Sale Gross Cash Location Price Income Flow Breakfast & Lunch Colonial decor gou... Tampa, FL 03/20/09 Sold $75,000 $200,000 $50,000 Breakfast and lunch for an office buildi... West Palm Beach, FL 03/13/09 Sold $85,000 $169,000 $81,090 Pizza ShoplRestaurant Lauderhill, FL 03/13/09 Sold $69,000 $127,644 $34,391 Short Hours, Quick Cash, Great Sub Shop Ft. Lauderdale, FL 03/09/09 Sold $45,000 $130,000 $50,000 Sandwich shop/port of Tampa Tampa, FL 03/06/09 Sold $85,000 $120,000 $60,000 Excellent Cafe/ Deli, No Nights' Weeken... Tampa, FL 03/04/09 Sold $67,500 $201,330 $53,004 American Style Family Restaurant Brevard County, FL 03/04/09 Sold $50,000 $204,000 $45,000 Cafe in Westshore Office Building - Now... Tampa, FL 03/03/09 Sold $70,000 $183,000 $71,708 Breakfast & Lunch Cafe 01649 Orlando, FL 02/18/09 Sold $149,000 $268,617 $53,342 Just Reduced In Price!!! Pjzza Franchise... Tampa, FL 02/07/09 Sold $50,000 $295,000 $45,000 Office cafe,exceIlent records Tampa Bay Area, FL 02/05/09 Sold $55,000 $131,668 $55,507 Great Italian Restaurant with no competi... Near Alachua, FL 01/l6/O9 Sold $120,000 $210,000 $70,000 Delightful Gourmet-Deli Cafe Miami,FL 01/09109 Sold $145,000 $222,976 $85,060 Pizza Delivery /Carryout/ seats 10 inside... Tampa, FL 01/09109 Sold $105,000 $260,000 $60,000 Italian Restaurant Upscale with patio on... Sarasota, FL 01/09/09 Sold $100,000 $200,000 $50,000 Rotisserie Chicken Sandwiches /Salads /0... St Petersburg, FL 01/09/09 Sold $99,000 $250,000 $75,000 Delivery Lnnch Only Deerfield Beach, FL 01/07/09 Sold $90,000 $200,940 $81,364 Busy Pizza and Italian Eatery Melbourne, FL 01/06109 Sold $48,000 $170,000 $40,000 Blimpies Sub Shop Melbourne, FL 12131/08 Sold $99,000 $180,089 $77,490 Reducedll Pjzza & Wing Store with ca... Plant City, FL 12/l8/O8 Sold $40,000 $175,000 $40,000 Best location office deli Hillsborough County, FL 12117/08 Sold $47,500 $105,610 $40,677 Sub shop - Great Location Winter Park, FL 12/07/08 Sold $32,500 $193,720 $38,153 42 A/lIIUI::l>S()/Io! &: CA.~R. Ii'l/C. Business DescripliOl' Date Status Sale Gross Cast Locatiol Price Income Fio\' -----~- ------------- Office Bldg Restauram HilIsborough County, FL 11/03/08 Sold $85,000 $260,000 $02,OOf Deli, Breakfast & Lunch Downtown WPB West Palm Beach, FL 11/01/08 Sold $35,000 $260,500 865,000 Breakfast & Lunch Bargain in Naples ... Naples, FL 10127/08 Sold $62,000 $207,900 $41,378 Chinese Take-Out & Delivery FI. Lauderdale, FL 10/22/08 Sold $49,000 $240,000 $70,000 Profitable Restanrant in Busy Orlando Ma... Orlando, FI. 1011 0/08 Sold $38,000 $187,540 850,246 Lunch Only Restanrant Central Florida, FL 10/06/08 Sold $95,000 $211,080 846,060 Established Breakfast & Lunch restau... Central Fl, FL 10/01108 Sold $80,000 $176,122 $47,982 Cafe - 5 Day Work Week Largo, FL 09/23108 Sold $35,000 S125,000 $50,000 Neighborhood Family Restaurant Sarasota, FL 09/22108 Sold $89,900 $260,5] ] $60,932 Italian Restaurant For Sale Daytona Beach, FL 09/19108 Sold $35,000 $277,000 $34,600 Breakfast & Luncb Restaurant 7672 Miami,FL 09115/08 Sold $150,000 $264,000 $51,580 Sub Shop Miami Beach, FL 09j08/08 Sold S135,OOO $285, I 95 $65,000 Deli Restaurant Pinellas County, FL 08125108 Sold $169,000 $296,06] $58,750 Great pizza shop and restaurant with bee... Orlando, FL 08120/08 Sold $UO,OOO $200,000 $56,480 Busy Pizza Parlor in beart of Tampa Cash... Tampa, FL 08/18108 Sold $70,000 $276,000 $87,612 Just Reduced In Price!l! Sub / Sandwich ... Tampa, FL 08/16/08 Sold $52,000 $265,000 $40,000 Pizzeria, sells authentic, Italian style... RockJedge, FL 08/15/08 Sold $20,000 $1l6,466 $45,000 Cafe wibcer & wine Looks like English.., Tampa, FL 08112/08 Sold $150,000 $231,334 $35,000 Pupular Pizzeria I2cop Pinellas County, FL OS/12/08 Sold $75,000 $222,733 $4S,884 BBQ with smoker!J'um key Will train!! Tampa, FL 08/12/0B Suld $50,000 $250,OOU $65,000 Deli/Cafe A vailablel Boca Raton, FL OS106/08 Sold $50,000 $100,000 $30,000 Pizza Shop I Drastic Price Reduction.1! Cocoa Beach, FL 08/04/0S Sold $36,000 $300,000 $60,000 43 A/lIIUI::l>S()!'lI & c..u2l>. l!'lIe Discussion of Sales Data When analyzed on a gross income basis, the sales included had an average gross income of $206,805 and a median multiplier of gross income to sales price of 0.38. When analyzed on a cash flow basis, the sales included had an average cash flow of $55,762 and a median multiplier of cash flow to sales price of 1.28. Conclusion of Value Betty's Place is a restaurant and take-out business open from 6:00 pm to 2:00 am seven days a week. The menu centers around chicken wings, hamburgers and hotdogs with some short order sandwiches, The take-out aspect of the business includes food as well as beer and wine package sales. The business reportedly does its strongest business during sporting events when patrons gather to watch the games. The company has been operated by the same husband and wife team since the business began following the construction of the building in 1985. Although the subject has reportedly been somewhat impacted by the recession, all indication are that due to the type of business and the fact that they are doing beer and wine package sales, the impact has been minimal. Given the preceding data and discussions, it is concluded that the fair market value for the subject business assuming a cash sale as of June 30, 2009 is calculated as follows: $190,000 in Gross Income X 0.38 = $55,000 in Cash Flow X 1.28 = $72,200 $70,400 $72,000 Rounded to: This value includes FF & E but does not include inventory. Year end inventory amounted to $20,100 in 2006, $23,400 in 2007 and $22,500 in 2008. We have assumed an inventory as of the effective date of $23,000. Thus the fair market value of the assets of Betty's Place as of June 30, 2009 was $72,000 for the value of the business including FF & E plus $23,000 in assumed standing inventory or $95,000. NINETY FIVE THOUSAND DOLlARS $95,000 44 QUALIFICATIONS OF APPRAISE! ROBERT B. BANTING, MAt SRi PROFESSIONAL DESIGNATIONS - YEAR RECEIVED MAl ~ Member Appraisal Institute. 1984 SRA. Senior Residential Appraiser, Appraisal Institute - 1977 SRPA. Senior Real Property Appraiser, Appraisal Institute. 1980 State.Certified General Real Estate Appraiser, State of Florida, License No. RZ4 ~ 14~' EDUCATION AND SPECIAL TRAINING Licensed Real Estate Broker. #3748 . State of Florida Graduate, University of Florida, College of Business Administration, BSBA (Major. Real Estate & Urban Land Studie.s) 1973 Successfully completed and passed the following Society of Real Estate Appraisers (SREA) and American Institute of Real Estate Appraisers (AIRBA) courses and/or exams: Note: the SREA & AIREA merged in 1991 to form the Appraisal Institute, SREAR2: SREA2OJ: SREA, SREA, AJREA IB: SREA 101: AJREA: AIREA: AJREA: AJREA 2-2: AJREA: AJREA: AJREA: Case Study of Single Family Residence Principles of] ncome Property Appraising Single Family Residence Demonstration Report Income Property Demonstration Report Capitalization Theory and Techniques Introduction to Appraising Real Property Case Studies in Real Estate Valuation Standards of Professional Practice Introduction to Real Estate Investment Analysis Valuation Analysis and Report Writing Comprehensive Examination Litigation Valuation Standards of Professional Practic~ Part C ATTENDED V ARlOUS APPRAJSAL SEMINARS AND COURSES, INCWDlNG, The Internet and Appraising Golf Course Valuation Narrative Report Writing Appraising for Condemnation Condominium Appraisal Reviewing Appraisals Eminent Domain Trials Tax Considerations in Real Estate Mortgage Equity Analysis Partnerships & Syndications Advanced Appraisal Techniques Federal Appraisal Requirements Valuation of Leases and Leaseholds Valuation Litigation Mock Trial Rates, Ratios, and Reasonableness Analyzing Income Producing Properties Standards of Professional Practice Regression Analysis In Appraisal Practice Discounting Condominiums & Subdivisions Condemnation: Legal Rules & Appraisal Practices Analyzing Commercial Lease Clause.s Testing ReasonablenesslDiscounted Cash Flow Hotel and Motel Valuation Analytic Uses of Computer in the Appraisal Shop Residential Construction From The Inside Out Development of Major/Large Residential Projects Federal Appraisal Requirements Engaged in appraising and consulting assignments including market research, rental studies, feasibility analysis, expert witness testimony, cash flow analysis, settlement conferences, and brokerage covering all types of real estate since 1972, President of Anderson & Carr, Inc., Realtors and Appraisers, established 1947 Past President Palm Beach County Chapter, Society of Real Estate Appraisers (SREA) Realtor Member of Central Palm Beach County Association of Realtors Special Master for Palm Beach County Property Appraisal Adjustment Board Qualified as an Expert Witness providing testimony in matters of condemnation, property disputes, bankruptcy court, foreclosures, and other issues of real property valuation. Member of Admissions Committee, Appraisal Institute - South Florida Chapter Member of Review and Counseling Committee, Appraisal Institute ~ South Florida Chapter Approved appraiser for State of Florida, Department of Transportation and Department Natural Resources. Instructor of 5eminars, sponsored by the West Palm Beach Board of Realtors, Authored articles for The Palm. Beach Post and BnI1m. newsletter. Real Estate Advisory Board Member, Universily of Florida. TYPES OF PROPERTY APPRAJSED. PARTIAL LISTING Air Rights Medical Buildings Amusement Parks Department Stores Condominiums Industrial Buildings Mobile Home Parks Service Stations Auto Dealerships Vacant Lots ~ Acreage Shopping Centers Leasehold Interests Apartment Bui1ding.~ Hotels - Motels Office Buildings Special Purpose Buildings Residential Projects Financial Institutions Churches Marinas Residences - All Types Restaurants Golf Courses Easements ~I am currently certified under the continuing education program of the Appraisal Institute," QUALIFICATIONS OF APPRAISER WAYNE B. LEWIS GENERALINFORMATIO~ State-Certified General Real Estate Appraiser, State of Florida, License No. RZ2452 American Institute of Real Estate Appraisers exams 410, 420, 500, 510, 520, 540, & 55( Florida Licensed Real Estate Broker No. BK685197 Completed both comprehensive examination and senior level experience credits for the MAl designation. EDUCATION AND SPECIAL TRAINING: Master of Science in Real Estate and Urban Affairs (M,S.R.E.) Georgia State University School of Business Administration; Appraisal major Bachelor of Business Administration (B.B.A) Emory University School of Business Administration; Economics major EXPERIENCE: Anderson & Carr. Ine.. FL AprJI 2000 Commercial and residential real estate valuation, highest and best use analysis, market studies and construction loan analysis, Real estate brokerage and leasing, The ADDralsal GroUD Atlanta. GA October 1999 - March 2000 Commercial and residential real estate valuation, higbest and best use analysis, market studies and construction loan analysis, PRIMIS.lne. Atlanta. GA February 1998 - September 1999 Director of operations of the Atlanta office of PRIM IS, Ine, Successfully tnrned around an under performing office with annual run rate of $300,000 to a run rate of $1,000,000 in a twelve month period. Established capability to electronically deliver full appraisal reports via the internet resulting in 25% cost savings, Participated in the selection panel tasked with choosing a new computer appraisal software for the nationwide network of offices. Participated in the design of a partially automated residential appraisal software that is proprietary to PRIMIS, Inc, Regularly demonstrate proprietary appraisal ordering, tracking and delivery software for corporate targeled acquisition candidates. Recruited and trained the current staff of 25 appraisers and office assistants (original staff of seven). Engineered high growth while improving customer satisfaction in the appraisal, flood determination and limited title search industry. SelVed as marketing representative, senior review appraiser, reviewer of monthly income statements and performed all duties of the director of operations. The Atlanta office of PRIMIS, Inc. is currently selVicing 400+ residential appraisals per month, The ADDralsal Groun Atlanta. GA July 1994 - January 1998 PartnerlSenior Appraiser - Commercial and residential real estate valuation, highest and best use analysis, market studies and construction loan analysis. Primary activity focused on acquisition and development loan analysis associated with multi-phased single family residential community developments. Additional areas of concentration ranged from industrial products such as carpet manufacture; trucking and warehouse distribution buildings; to golf courses; horse facilities; fast food restaurants; office and rental buildings; apartments and single family residences. Long range budget planning with particular attention on cost savings. Served as marketing representative focusing on new client development and retention. Utilized a wide range of computer skills in report writing, discounted cash flow analysis, and development and renovation cost estimation designed to altain effective communication with clients. o Q)-ci ~ -~ .ceO %~ o..~ - cO C'l .~ 0 Co <1? ,,- 4\0 0.. ~ .. -. Q ~.. ~. ~ ~ ~ ~ ~ "3 'a ~ ~ ..= ~ ~ <:) ~ o -- s..... CO C CD () en +-' C CD E c.. o - CD > CD -c CD ~ - co -- +-' C CD +-' o a.. CJ~;:~ '--'0 ~~ ~~I~,:it II ~*". ,<, ~.... ~... :....:1 W~~~~ " \t:. ~'t::l~ lll'lio: ~~ ~~ a:~~~; \~1'W~:5~; ~:(;; ~~~ =-=....(~ ~~~/ ':';it;. ,"I I yo ~::.:: "-- _.- ~E?i;~"'~ '- ~ JjT. 0' >~ k~~ - "~ ",:'/"-' <<UL. '. ...,-;-r~-t- . .......~i ,V " l~ ~~'" i'/O- k' ' t"',.:. ~ t .~M ......':' it. -: ,.f. "l ,j,,~'l l.... .....- i -* l ' " ~ -1. :L:,f .. l'~,' ,'~,~ ;. t;.. ~-,:'~, ,~~,y~ , D";' kT' L' I: _ *'.1 ,. -. J~.... ~ '0 ~,~ '-"'~i."" ,r "', , ~ I, <; - , _ -'f 'l ~';'t;::' I ~-- ~ ~.~t:l1 J' . ~:~i ~.Jt1 t ~ I~ , -,~ ",:: ~ ,~ ~ ....,...." . ~ ~:'"-' ."L .' . ~ " ->.' " 'f! 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(j) 9n -0 c ...., 3- ~ (() (0 Va uation · Rea Property Appraisal - $250,000 · Business and Asset Valuation - $95,000 Benefits of Purchase · Assemblage of Land to Implement HOB Plan · Reduction in Crime · Adds to CRA Parcels in Area r.~'.-' i~. I -' . I . KEY SITE PLAN 1....200. (1-=400' printed 11x17) S1. Cuthbert Church and Apartments 208-214 NE 10th Avenue (MLK) Historic House & Gardens 211 E Ocean Avenue Caribbean Marketplace Mix Use NE corner of Seacrest Blvd and MLK Armelle's Supermarket Boynton Beach Blvd and NW 1st St. Cottage Neighborhood Location #3 NE 4th & 5th Street East of Sea crest Blvd Cottage Neighborhood Location #4 NE 7th & 8th Street East of Sea crest Blvd Sara Sims Park/Cementery Expansion Historic Cottage Relocation & Adaptive Reuse-Retail 1st SE St 11st Avenue Old Boynton High School Civic & Art Center wI Commercial Use Seacrest Blvd I E, Ocean Avenue O~O'C!) REG 'ARCHlf'ZC'I'S '/NTZR]ORS 'PLANNERS INCOIlPORA r~D aiJ EST. 1988 RICK GONZALEZ, AJ.A. PRESIDENT AR.OO14112 JII1EVERNIA mEET . mI FU. WEST PALM BEACH FLORIDA 33<01 PH 15611.659 .llll FAle (5 6 II . 6 5 9 . 55 I! tDtDW. regarcMtects. com CORPORATION NUMBER AA.axlU47 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW BOYNlON BEACH. FL II~~ REVISIONS NO. 6. 6. 6. 6. DATE SCAlE DRA \VN ~ll.lOO9 1'0200' YO CHECKED VKJREG REG No. 09014 ~lOO9 .uH',IfC&rs1tl:!tIlOClloDllSl ~.QIQlIIlII)ftS.SDl\Q: .._stWL_K~lF1M: .c:tlll[CI'1IOD1tI:1'mD:2'1lD'IIC _R11lStGIlmCllIIJtK'f>>wJ. IIlI'II:U5f1II'l'KeaoatOllRllll CIlOIIIO.B:lS(IlJm~lONS flQltTll'lllIOS"D:El"Il'l'.-s.IM .__OI~ ~101lI:.w:tIl[Cl AERIAL SITEs KEY MAP A-O ,New~metarfence and gate New Church Sign & Bench Exterior Lighting (Optional) New Trash Enclosure & Bench Exterior Lighting (Optional) Repaint Repaint Facade Church :FacadeNewBahama Color~Scheme T y- -..... - ~ " ~~ Martin Lutber;~_i~g,,"r-w :BJ1ld':views NTS '..,:'N1'S I 25' N 5~' C) '<Site.JAer:ial View I 0' - REG 'ARCH/rEers 'INTERIORS 'PLANNERS INCORPORA rID aiJ EST. 1 9 8 8 RICK GONZALEZ, A.1A. PRESIDENT AR.OO1.112 307 EVERN1A mEET . mI FU. WEST PALM BEACH FLORIDA 33<01 PH (561).659.llll FAle (56 II . 65 9 .5516 1D\DV1. regr:rehittcts. eam CORPORATION NUMBER AA.al11-U7 BOYNTON BEACH CRA DESIGN STIJDIES ~Ffr8~~ #1 St Cuthbert & Triplex Residences BOYNlON BEACH. FL II~~~ REVISIONS NO, 6. 6. 6. 6. DATE ~ll.lOO9 SCAlE l'a4O'-U' DRA \VN YO CHECKED VKJREG ROO No, II'JOJ4 @2009 oaI1I9I'''''l!i(fE'DD[llllOIOllSt lIl"U:IFDJDI.d~fE&\ICE _.*lIII1._MPIUOlh'fE. .lfOI1(C'1IODIICl'tI:Il[Cl''M.'l'_ wa:flIlSDmml(lltIl1'M.'l'~ Idfl[usm.'H~CIlOllll5I11 (lIlft!WJ.ICS_RIl.Glflll5JDH I"ICEfll'lIIIIRS"DaJ'f1l'1IlEYDf .....MIlO.fll'lll:f'llGt ctIftIlSm:IIlOH-:HlECt EXISTING SITE & STREET VIEWS A-1.2 \ I.------~~-----~ Cl 0 D C I" . "...' . I I I I I : ~7 ;: I I r-J L-l I I' I t Y. [ ~~l 1 I I l I I p ',::r-:'~:'~'~:~:'~>'''':::'~~0::~':~::,~'-'-:::0,'~'::j::' L: ',.1: :1> . '/<<:, ,',' " ".'< ,':<:1 ... ..LMOOP.eD ..... l<..'..IOllII1I1U1,',.,""'" ",I J,:: ' :'. "'07""7: 'I: :1' ",':1 , :~7j~:i:~:~::i,~::?j:~,?7~,':::::::~f .12'.'" . :. ^ ~ -yr- ........ , W~8J~R \ CLN'tliiiJ'.lI" I 1* I ROOM WO D LOO CLNm~ / I I I) I I I \ I ..tL-- ,(J. L~"""" 7 .........., ........ ~ First Floor Plan Second Floor Plan 114"=1'.0" 114"=1'-0" D;' ~ ..J LEGEND db db ELEC1"RIGAJ..Ili!ECEI"T.ACl.E' 0 m EJ..ECTIOICAL. I'1!TE1'l 22" ~ACL.E ~CA.L.,.,.IrN!L .II. -"""" $ eNGU! ...,."" \ 0...-- to w.u. """"'" L.At1" <r alLNG JAQ(. *~~....~ o ............ """,..oIe> , .........., ".(,...........- o ~ ~CfOll ~ ,""""L""" ~ -...a<L""" c::=::=:J 4-x,4' fL..UCllIilE6CENT c:=:::::J e"X.f' FLUORE5CENT CQJ''''4'1'l.UOIOEOCl!><1' I I I I I I I I, I~ I I I I I I I I ~ ! " ~ '-c>' '0'." .~, Roof Plan to! EB 114"=1'-0" PLAN NORT," REG -ARCHItECTS -INTERIORS 'PLANNERS INCORPDRAfZD aiJ EST. I 9 8 8 RICK GONZALEZ, ALA. PRESIDENT AR.OOI417l JII1 EVERNIA STREET . mI FU. WEST PALM BEACH FLOIIDA ll401 PH \56l).6S9.l3ll FAXo IS 6 I) . 6 51. lll6 'UIVW. ngarclWtcU. eom. CORPORATION NUMBER AA.Jml441 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8m. 2009 CRA BUDGET REVIEW #1 E. Ocean Avenue Historic House & Sculpture Garden BOYNroN BEACH. FL 1Im:.~~ REVISIONS NO. 6. 6. 6. 6. DATE CJ8.l1-lOO9 SCAlE NU DRA\VN REG CHECKED VJ(,REG REG No. 0901' @lOO9 ___llSI:rllID(lllIC1IIl/f$,t: SPE:R:QblSASIlS!AlIO'I$(ESONCt ...SIW.L.....MJIIlCIUN.lIC .-amaItOlJlMNO.tCf.,.. 1IJU""l$flEtlIlOGtIllt'Hl'lIWl. . JCJI[I!!IIIIft'HCllDotate!SCIl (I)OI'llO.rCIlCll RI.QlllmSJ:lHS I'mm' " CIlIIRS,. DaPf " .IIllImIllI' .__IIllI~ <xW'ENSQDI JO 111: MlOfm. FIRST, SECOND & ROOF PLANS A2,2 -;~ .N .--......,. ~( J.'. .,;.. ..", " n .;-~' !r' ~ ~ ': j .'''-:r ') ~ -~~ '10 ~-- .......... ... . I }l T E R. J 0 j( ;;- .PLANNERS INCORPORJifJD 00 RICK GONL\l.E7.. AlA. ?RESIDENT Ai,OO\.1n llJE'/l'RNIAS'tiEET. mtFLl. WEST P.,LM HACH FL01IDA llllll fit \161l-619-1111 FAle (561l.619.1116 18W'\O. TtgaftMtlct!. eam CORPORA nON NUMBER AAQ:J1J.Ul BOYNTON TlEAOl eRA DESIGN STUDIES s'El'l'EMBEP. 8th, 2OO'l. CRA BUDGET REVIEW #9 Boynton Beach Old High School Civic & Art Center so'{lllON BEACH. FL lfi!.cl~ REVISIONS NO. 6. 6. 6. 6. - DATE SCAlE DRA'IIN CHECKfD ~11.1iXll NlS VD REG REGNo. 09014 ~1lIl9 = ==-=~~~~ ~~~JIl ~:-~~~ ~.:.~.--- :=:r"::==' BOYNlON BEACH OLD maR SCHOOL PERSPECllVE VlEW A-9.4 II I, II II I' &trlle, CetJ1f:-tz. II ... 'I 6YI-1f/A-r'PffId,'/ I /17(){,17~f'~ ft~; II ~PP.r4AtJCe/K:e~(.. RACe 1iL." /cIVIC. a,4."~t1 '1f.4 ~ ~ ~ ~l c,!JF, 4tM. -#z. "';1. _ ~fVlC ~tA 50? f{t?I7/1 :#~ z, :f: 170' t krrs/C;;VIC, CUV}tWM #z 'l'-~. c,i/F, {Z.Jn, -4tf - ,- ~ -AFf"S/C-/Vfc. CM?}/!P:7M #! ~e. jWI<-!> ...~ " --~~~-t 11 \ II II ~1tl.6e 'REG .ARCH11rcrs -INTERIORS 'PLANNERS INCORPORATED m EST,I988 RICK GOh'ZALEZ. A.LA. PRESIDE~T .'-R.OOI417l JII1 EVERNIA smrr . ffiI FLR WEST PAL~ BEACH FLORIDA DOli PH; (l6I).659.21il FAX: ~ 6 I) , 659 . S 54 6 WUI'UI. rega:rc:hikea. eol'; CORPORATION NUMllER A...am"1 1'1\ ~ '1-1 I BOYNTON BEACH CRA I DESIGN SlUDIES SEP'I'90ffiER 81b, 2009 I CRA BUOOET REVIEW #9 Boynton Beach I Old High School I Civic & Art Center . BO\1iTO~ BEACH. FL lI~tf~ REVISIONS ~ 3 D,.TE IJ8.JI-lOOl SCAlE ASMed DAA\VN VD CHECKED REG 09014 ... ....,., . .~ """"';s .. ...,'" 1OC.K'fSll'U lO'.lI5Ol"lIt~~': :a.~CHlS,DaI'I...t.;liEDIN 1l'GlltC/fCI"'~ CDI'DIWIClIIfOlClIlaiET_ BOYNTON BEACH OLD mGH SCHOOL UPPER LEVEL PLAN A-9.3 Upper Level Floor Plan 1/8"=1'-0" ~. ~f!:VcIL- ":> #'~ -< ~~ ~~\t-l ~1Aii-~ 1:lZ l- .Jf4 2 ~ If 1 ~! . G1 , I::l ~ ,~~~ J:f~ ~O ~r:>. r-------l I CA>ge-~ O~ I OIi-iIfl~ I ... 3 E1 r/'50' llJ III ~c~ ~1rTeFz.PIV/~ '4\re' "'11'~#e,J1 ~p~~ HAl,..l,;/ t/lle~fl.-IN IJ Aft;(7 / ~/V/ (;. Cf;~ /3 ~Fe' tJ ,~ !tt;~<. #I) ~.1. 1\ Me '" lJeW'({~. TTTllTT ~~ ~t~a6t .. --- Ground Level Floor Plan liB" = 1'-0" &O\'\nec-r -to ~ye51l2J~ ltJAw.. ~ r{\ -.g. {, :r~ . REG .ARCHITECTS 'INTERIORS 'PLANNERS. INCORPORATED m EST. I 9 8 8 RICK GO~"lALEZ. A,J.A. PRESIDENT AR.OO14112 lIl1 EYERNIA mEET . ml FU. WEST PALM BEACH FLORIDA ll<Ol PH, ~61).619.21ll FAll (56 I) -6l9 ,ll <6 wu."W. TegBTch:i.Ucb. cqr. CORPORA nON NUMBER AA4Xll44J BOYNTON BEACH CRA DESIGN STUDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #9 Boynton Beach . Old High School Civic & Art Center BOniTOS B~,CH. FL II~~~ REVISIONS I NO, ~ DATE ~ll.lOO9 SCAlE .....- DRA\\l/ YO OIECKEO REG REG N. 1I'JI)14 @)lOO9 OIIEIl:H'iHIV5!:tf1llESEllO"J.IiOftS. ~A$JQlI.II9I1'.IflMNCf .w:""OflllJ..~HPiIPUlll'r11( ~'aEtlQIl(PIiOCODC'1#I( WtIll'OldDSUllllGlIIJI'.l€T9<<1 IIJl"ltllliDlI'1(CIIlQ(Ilcmmlll arlfJIPfIIl,,(mClRllHDl'llll5Rl1llli ,...s;r.GMJG.Ptil'fIll'~ _1IIIHi1fClGlII"I'kPIId: CCilI'O'WCIIMHNIOIlE:J. BOYNTON BFACH OLD IHGH SCHOOL GROUND LEVEL PLAN A-9.2 .'\~ 'If'ill , #!,,'~ ,"", ~ ~ ~ Site Context 1":20'-0" REG .ARCHITZCTS 'INTERIORS 'PLANNERS INCORPORATED m EST,I988 RICK GO~'ZAl.EZ, AH. PRESIDENT AR.OOllI1l lO7EVElL'IAmEE! . ,mFLR WEST PAL~ BBCII FLORIDA 33401 PIt ~6I),619.2l1l FAX; ~61).6l9.ll16 "","", ng=hikcu. cor. CXlRPORATION NUMBER M.QOOlol47 BOYNTON BEACH CRA DESIGN STUDIES SEPTEMBER &th, 2009 CRA BUDGET REVIEW #9 Boyllton Beach Old High School Civic & Art Center IlO\XroSBEACH.FL lI[t!E]t~ REVISIONS NO. D D l:::. l:::. .., ~'" DATE os.ll.2009 N'TS YO SClli: DRAWN OlECKED REG REGNo. O901~ 02009 0III03P1to1ltilrl1l&ll.nllEtG.. ~~~Tl( IrIlOlIm' 'HJEJ.lI: NO.Ea ne<< M/(t"1'IIl!SDIWltD.1IJl. KT~ :.::: : =:.:.s aa:s.: 1Wl.m'.lfiil5.ElaPI'''~ ._".-~ ~lOKIrIICH1[l7. BOYNTON BEACH OLD HIGH SCHOOL SITE PLANS A-9.1 R~_j 'l~ - aJ.''''- '~U~REG *" ~,_..J. ';7'1~ ...,. .....'-~ .iifl.~L'~. ,ARCH/TICTS .- . ,11" -. "'I(: ..,.g.. .. ,'l'7f .~;. ....,.. ./ NT E R J 0 R S --t , t . .. ~':> . - - "'" ;l;"t~~ll" '~. ~~~~ ~ . P L .t N N E R S --.- .,...-.....-: . --~,..-.,.,...."',l-. .J .'1t'5!:l ;~.....*-; /NCORPORATH ~~" .~{ .~... aiJ J ~ EST,1988 .,- ~HS~~AR.OOt.~ JII1 EVWIlASTREET ' mI FU. WEST PALlA BEACH _ , '" FLORIDA lJolOI 'J "I \f PH (S 6 1).6 S 9. III l -If ' FAle (I 6 I) . 65 9 . I S U - F ~ . r UIUMD. ngartkiteeb. com J '< t'l. _ ~g CORPOR~:~MBER ']~' -, ~~ ti . I h '1} CHU: ~I .1 ] - J .t .! J "~ ,~'J Overlay Site Sketch N U ~ O' 50' 1 00' 200' ...... BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8ib, 2009 CRA BUDGET REVIEW #7 ParklCementeI)' Expansion BOYNTON BEACH. FL .,!tvrE]t~ REVISIONS NO. .<.CJ 6, 6, 6. 6, DATE ~ll.lOO9 SCAlE j'.2O'.{J" DRA \VN YO CHECKED VKJREG , I REG No. 09014 !10lOO9 '~"'lI!Irl1IC(DOO.IlDlIS. SPEI::IFr.IJIllASIC5IIlIM)IIl;CJRlNCt: ME,IM)!HU._llIMJ1Emrl1l( MOtItCI'.oG1I(NClEI'1llD'1I/( I1611tL"lltISElmIIDCIlIa.H'I'5WJ. IIIfll(U!iIll't1ll:0MJlCllllllllSlII OIlDJWl.EISCIlflJtam:llSltIM ..w:rIJllMRS.!XO'\'..-aI)I' ......-clll!llAl'lWil'lMl[ CllW'DlSI,lOI YO II( AIlOIm. PARK/CEMENTERY EXPANSION LA your PLAN A-7.1 II, I' ,!~ " H ~,Ir " ~i f ~~11\" /;.." '.~ If: .~'; ~ l .. I '1,' O:M' ,1 ~:J.(lj: '1 I' ..,'1 t. , I' r~ ,\ ~:~I II p)" ...:1 "'~I"'l ~ ~ ~ h~_ Overlay Site Sketch 28 units/800 Sf. Covered Car Ports -1111' ,;'jr -.:,~~ . . ,J... " 'x;.-'-, I 1", ,-~. . f1 .:~ ''\- ~" ' ~ '"'" ~.~ \1 'ff'! ...- V~ ..~: . I I' DATE SCAlE DRA\VN Q CHECKED REGNo, @lOO9 ...... I 0' I 25' I 50' REG .~RCHl1'ZCTS '/NTZRIORS 'PLANNERS INCORPORArZD aiJ EST. 1988 RICK GONZALEZ, A.LA. PRESIDENT AR-001417l JII1 EVERN1A snEEr . m1FU. WEST PALM BEACH FLORIDA 33<01 PIt (l6I).659.11tl FAle 156 I) . 659 ' 51 H W'Ul'tD. ngarch.it.cts. com CORPORATION NUMBER AA=W BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #6 Cottage Neighborhood Location 4 BOYNlON BE'CH. FL 1IR.~c!~ REVISIONS NO. 6. 6. 6. 6. ~Jl-lOO9 ['-lI1.()' VD VKJREG 09014 call1!H'AlIl&l'IlUlIllClIIJIB. S'EDIlCAIIIC . .....-s " $Dl'G _.SM.LII1IIJIlNl"IDUI'fl'lM: ..-:MEr.us N M)(CfllQ'" II<<flIl15fXD,m1IJ1I1CltHrNl IIJI'Klm.._IJlGIDSIII 0Il01'mCU1Ilpaf.Clll'OlS1IllHl ICltT IJ GlIIJlS, DaPf . AlIlDIllI' __IIIIl"'M'l'lltlPIMII: ~ 10 HAIOfEL COTTAGE NEIGHBORHOOD SITE PLAN LAYOUT A-6.1 ~- ~' ~'''1f''--E. :'~.-_ . . - '~,- ~-;.:;. ' ...'...- -ir,_- ~-.. Relocated Historic Cottage New Porch New Covered Deck Proposed Building Site -.~-.~- - -.....",. ~-- _. -.,.: ':- - -. --, ........ ..., 4 ~~...- ..//,., Relocation Site View from E. Ocean Ave 1=l ..l -- ---.-- ..;:...: -' -- .....;"... -.... - I Proposed Building Re-use REG oARCH1'l'EC'I'S oIN'I'8RIORS 'PLANN8RS lNCORPORArZlJ aiJ EST,I988 RICK GONZALEZ, A.1A. PRESIDE~T AR.OO14ln 307 EVERN1A mEET . mI FU. WEST PALl.I BEACH FLORIDA 33<01 m (561).611.llll FAle (I 6 I) - 6 I 9 . II H tDUI'UI. "9arch.ittcts. com CORPORATION NUMBER AA.axlU47 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #8 Historic Cottage Relocation and Adaptive Reuse BOYNTON B~'CH. FL IIft~~~~ REVISIONS NO. 6. 6. 6. 6. DATE SCAlE DRA \VN CHECKED 08-ll.lOO9 l'a4O'-lI" YO COTTAGE REG N. 09014 @2WJ ca&9I' AICI US( IS 1IU lXlaIPIS l !PE[R'.l11lNSI(;NSnlMIlIS(SBCl _MClSMlUlIONlKJIfIOfIm'\'ISM .II)Il[Ct HID: JME PkICr 1IlD' /IlL UURllISDmJ!DlIl.::ILllO!NU. IIJlI:usmtrTllONRatllHll5l1l 0Il0 I'IO.II:lSlIlFlJlmn::.slOHS l'llaEr_lIIIIllS.EXaPtIJl'II:llIEDiINI' ...1fC1III....-..at CXlIftIlWOlIQ 111 *HI'a. HISTORIC COrAGE RELOCATION SITE & BUll..DING VIEWS A-8,2 J~~ .j-;. ri~'''; .--- *" . .~ "\'~ -~ .. "'- :'It _- ....,:~Jlt'p. ," ,~. . ~ ~ :. ~ t ~ _. " ,it. '~--. 'i ' .r - .- ~ r;'-. I ',. ": (l ---"""'''fO .t~ ~ ,~, it""" : Historic Cottage View O~O'C) Historic Cottage Relocation REG oARCH/'1'8CrS "/NTZRIORS . P' LAN N E R S INCORPORA 'fElJ aiJ EST,1988 RICK GONZALEZ, ^-LA, PRESIDENT AR.OOI4Jn JII1 EVERN1A mEET . mI FU. WEST PALM BEACH FLORIDA 33<01 PH: (561)-619.llll FAle (I 6 I) . 6 5 9 . I 54 6 WU/'UI. ngm"Chitects. com. CORPORATION NUMBER AA-IXlll'" BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #8 Historic Cottage Relocation and Adaptive Reuse BOYlffilN BEACH. FL I~~!;~ REVISIONS NO, 6. 6. 6. 6. DATE SCAlE DRA \VN CHECKED 08-31.lOO9 1'..ou4' YO COTTAGE REG No. 09014 (9lOO9 ~"'''''1Ief:1lllOM)l7S. ~"IliIIJIMHlS.SEINC[ _.ML__lIIIW1Uf'fISK .-:xm 1IOG 1M: JIIOEl' 1lID' .- IllURlISDmmCllllll1l<<'t'SIW.1. 1IIf1[l&D"1lf:~CIlCMllSCII CllDPIIClIll:ISCIIA:lI.C8IIlISI01IS I'lI:Im'.CJII8S,a::m.~ .__IIClWlll~ CXIftJCS,\Q 10 H.w2IEL mSTORIC eOTAGE RELOCATION LAYOUT PLAN A-8.1 REG -ARCH/TZCTS '/NTZR]ORS 'PLANNERS INCORPORATED aiJ EST,1988 RICK GONZALEZ, AJ.A. PRESIDENT AR.OO1~112 JII1 EVEiNIA mEET ' mI FU. WEST PALM BEACH FLORIDA 33<01 m (lSI).619-llll FAle (lSI)'Sl9.l5H 1D'UI'II.. ngarcAiUcts. com CORPORATION NUMBER AA.axlU47 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #4 Armelle's Supermarket BOYNTON BEACH. FL I~~~ REVISIONS NO. 6. 6. 6. 6. DATE SCALE DRA \VN CHECKED ~ll-lOO9 l'o4()'.(1" YO VKJREG REG No. 09014 <!)lOOJ OMltSHPMlll!l/llllS[llOC:l.IiIInl ~.~"sor.a ....HU.....nt:PIII'DlTl:FM .-::HlEtf lIOO M ICEI' 110 .. IlfURlISOELIEllCl:IIlt 1ltD'SlW.L lIl(ll[usm.lIE~(JlaHllSlII OIlOM:III:DlIllOl.QlllllS1IO .. "DEflt'anIIIS,E:I:lPr..cIEDIIf .__lIGm~ <XlII'8CSA1lCIlJ01II:.<<HIECL Boynton Beach Blvd. views NTS ARMELLE'S SUPERMARKET BEFORE & AFTER A-4.2 ..- , , .,', '-. ~-~ I ~ , !~I ,.1 . .. G) G) ... .. en . >l __ - ~..~ --- ... .. :... t. '-- ..-., - , "- P"', I , jv . ....' ~ . .t ir Proposed Site Plan Layout 111-301 - (1"=60' printed 11x17) Sign and landscape improvement Additional trees and shrubs Repair and re-stripe parking 4' paver walk and awning 30x40 Tent and temporary pavers 20'x40' 8' High Screen Fenced Storage Yard I 0' N 1m 50'V I 25' REG 'ARCHlfEC'J'S '/N'/'ZRIORS 'PLANNZRS INCDRPORA rZD aiJ EST,1988 RICK GONZALEZ, A.I.A. PRESIDENT AR-00141n JII1 EVER1>'1A mEET - <I1I FU. WEST PALM BEACH FLORIDA ll<OJ I'll: (561)' 619 .llll FAle (56 I). S59. S S H 'lDUl'W. ngarcAiUcts. com CORPORATION NUMBER AA.amu7 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #4 Armelle's Supermarket BOYIITON BEACH. FL II~~~~ REVISIONS NO. 6. 6. L L DATE ~lJ-lOO9 SCAlE J'a4(T.()' DRA \VN YO CHECXED VKJREG REG No. 09014 02009 ONJtHOMll!it:fl1lCf:DOaIOlS.t ~.IIlISlIIIOIItI-.a If(.IWJSIIll.I..-IlIJIIDUITflM; oIJOtECfllOlll:IlE1'IDCl'1IO'JIl[ W<<R:l:IElmIDlIlllJl.llOHL lIl'.I.l5IIlI\'1llE~c:.llIHEllSlIl (I)O:~CIlRII.DlllDl!1l)H PkIEf_ClNRS. txaI'r.~ 1l.....1Illl~ ~JOHMOIIECl'. ARMEUE"S SUPER MARKET LAYOUT PLAN A-4.1 ----- ..........,,- --...;:...... ---~--............. .-- ..... ---'----. ----............... -...... -- '--- -~ ~T~f Vf ~ ~ --- Phase 1 Building View REG .ARCHIrZCTS "INTERIORS .PLANNERS INCORPORATZD aiJ EST,1988 RICKGONZALEZ, AlA PRESIDENT AR.OO14m J07 EVERN1A mEET ' mI FU. WEST PALM BEACH FLORIDA 33<01 PI< IlS I). S19.llll FAle (56 I) - S I 9 . II os 1l1'I8tI1. f',garcAit.cts. com CORPORATION NUMBER AA.(OOl447 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #3 Caribbean Marketplace BOYNTUH BEACH. FL II~~~ REVISIONS NO. 6. 6. 6. 6. DATE SCAlE DRA \VN CHECKED 08-ll-lOO9 I"..w'.(l' YO VKJREG REG No. 09014 @)1009 <IIIJl!iW,,15I"1I[S(lllICl.IIDlfSi,l; PEl2'rRIM .lIS -.M)lIl ai SUMC[ _lfI)SMI._MM:I'Otf'S1M[ /lIlCHI[Cl' lIDO II: l'mm' 1IlD MI( IllURIll5mu1E1l1lld.1l€l'3W.I. IIJ'lIEusm.1II:~1Il0Hltli1ll lIIO lWIACI$lIl Fal.lXllll*SJO" l'IDEl'.(IHllI,I;QPI'..... .__..~ CZII'OISIJDI 11) 'I(.-:xm. CARIBBEAN MARKEfPW\CE PHASE I VIEW A- 3.3 ." ,~ King and Seacrest Blvd View of Martin Luther REG oJ.RCHI'/'zcrs olNTZRIORS 'PLANNERS INCORPORATED ~ EST. 1988 RICK GONZALEZ. All PRESIDENT AR-OOI4ln JII1 E'iFANIA srun . m1FU. W8ST PALM BEACH FLORIDA 33<01 PH IISII-6ll.llp FAle (56 I) - S l 9 . III 6 UMW. ngarehitecu. com CORPORATION NUMBER AA.(lX)l.I47 BOYNTON BEACH CRA I DESIGN STIJDIES I SEPTEMBER8lh, 2009 CRA BUDGET REVIEW I #3 I Caribbean I J Marketplace I BOYN11lN BEACH. FL I I~~~ I REVISIONS ~ 6. 6. 6. ~ DATE ~ll-2009 SCAlE 1'-10'.0- DRA \VN YO CHECKED VKJREG 09014 I- CARIBBEAN MARKETPLACE VIEW FROM SEACREST A-3.2 \ .. ~ '6' t- t \ ~ {~;:~.; :. ~ \ ~:r.. 'I~' ~t\. ,..~' ~ fil . ' ,,:-... ~ ;r. -': t: E: ,f':...... '-'" : : ~ ;. ~ l}f' / oC :; . "" . :l" \.. . ." . "~ ;,::.:.~::.~ ~'rr~~.~~'~~ 'ti~:j ~ 8;.., . ot.~, -., ~ ~'~ l@ ~t II' 1- - EST, 1988 ~ - : t"'-; r" ~ l ..,.r.r-~.! IRICKGO~ AlA. ~. .: - ,,-, :' · '~: O.~:~~~A~:~ '" .. ~. .>' {" f. WEST PALM BEACH .... '.. ~ '{,. ~IFLORIDA 33<01 ~ .. j ."'t,,; ....PH: (561)-659-2313 ; ~,:hi'f"i {, FAle (56 I). Sl9 .IS46 .-",;.., " 'h-..~~rt1"g ~:, -2COR::A;~;~~:~'" ~~ '" c, . ~f~:' . r-' .~.~'St , ".. AA.axlU41 .." (:"~":':\ '/0' .. f: ~ '.~ ,.t'; ~.' .~', 'C" ~j ~ · ~;p ~r" t ... "--, .'f J =~t' ~ .: :' ". ... ' -: Q' 'I . Ci:'"'' ~ ("j""- ., "i""I . Marketplace '" 8OYNI'ON BEAm. Ft ~ .... ' ; ^ .,- '!}, _;1." .'f' .' 'r ~1i~~t:RA .:: ~. . I t;.tl .. ...-.---- ; . t ': :; H' ~O ~iJ \ :4Ia... REVISIONS NO. , ,J ~_J; ~ ~ 'p :-7.1, ,.~, 6. '~ · - J ' -q;' ~ 6. - 'r,' - \ ~ ' !&."'J~ !;~~, 6. .' ~ : * ". ~~~~{~'~:~~. 6. I ~ . ( .. . '. (' ..,. u~. 'J: DATE ~ll.2009 ~,&i . :'-'.-J :..... ~ :.' ..y:,,-:~_.Qv ~~:-'~ ~.~.;;,-E.:r . 1_:" . ~.. "~~?":l~;~'''.l",..' , ~ "SCAlE 1'-IO'q .' ..' .~,~. ~ t :,.:~.t;'~~;j''''-';: . :. . DRA\VN YO ..... ~!..."\~. I;:;(/i:"..;y;...-I.:,,,\'" . CHECKFD VKflE(j ~ . .. . ,... 1.-:-~.:' ,; -' r IJ ~_ j, . ,r. '-', . ~~. T ~... REGNo, 09014 F t,..;....., ' ... . . ' ~. ~; " ~. '~ "'JI ~....~_"""'". ."". .j'"E 'f~~:"~r t 1", S'U:R:QDlSltSllSIlIII)QrsSINX . ~. . ,"'-' . ;< A _ _.-.LJElMlM(l'llIUr'l'tEDC 9th ~t' ~ 'r r rf ,}:, :..,"', 'I,' ~ <'" ~1~~ 2..~~:-' .O'~. ..~~-.. .... ...:. ~' -, .. --...... ' 4 ( - ~.. ,'t} -" . f '-~ ':.'h. I~_u_-:"'~_~~.___ -"_ .",:-_.~-' ''';, ~,. '''. ,i.:- ,l' ~.;:c '~-(';:' . ....(f-" . ~';.,,~ ~ CARIBBEAN !" '. . '" . ~ ~ . "-.. T' ~\. ',..~. ,.' .~ ~.'i! MARKETPLACE \ . , . .", ' -.i LAYOUT SITE PLAN Phase I: 10 units Live Work 20000 sf Total/70 sp parking N 1st Floor 12000 sf Retail + 2nd Floor 8000 sf Residential o~o'c) A-3.1 I t ...' ~ t.~' , ..,~, .>'!: f 1 ... '...-;:' ,. i .-li- ;" . . it ,,\,!L 'l'~i:"lE~ ~ .......' r~ 1, ~~ ( \J.,... -... I ~#.._I . .. to '. \\:.' .. ..tr~ I ~REG "r " .I r: r' i \ ~~-~,. ;,. N.:... i . ~'i d ~J.~<< ~ ~..._- ~" c--:::a.,.t,.."'.,. " -' , ."~r"t..,. ,,(~..... J .. .~ 1\f~:~ ot , ...- I C"'" tt - ~ . ~"l ~, .r- ;:;:;;;;;r r- I .....-...L' ON<>LE. South Elevation 1/4"=1'-0" - ~ :s 0- - I I = I I 0", I -1--"", _n """" II~ :1 Jt 1 1/11 III I " I III r= """'" fER :1 -. mot 0""'" 01EM ~~{j- 1114 ... OY North Elevation 1/4"=1'-0" 0<I"tEY -, .. C<lUM< ~~~~. +~~~" + T.o. FN. Fl..R. a- "-(DO +~.~~. ,~~";~';-1t ----r- +~~F;-_~~ .-.: -... o ., ""O'OEY o ,. I I I I I I I East Elevation 1/4"=1'-0" ""hEY o ., I West Elevation 1/4"=1'-0" REG .ARCHlrzcrs o/NTZRIORS 'PLANNERS INCORPOR..rE~ o , 00 EST. 1988 RICK GONZALEZ, AJ.A. PRESIDENT AR.OO141n JII1 EVERN1A mm . mI FU. WEST PALM BEACH FLORIDA 33<01 PH (561)-659.2313 FAle (5 6 11.6 I 9 . III 6 'WllnIl. f'f.garchitecb. com. CORPORATION NUMBER AA-0J)2..u7 BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #1 E,OceanAvenue Historic House & Sculpture Garden BOYNlON BEACH. FL o ,. I~.x~~ REVISIONS NO. D. 6. 6. D. 08-ll-2009 N,T~. REG VKJREG 09014 l- DATE SCAlE DRA \VN CHECKED BUILDING ELEV A nONS A2.3 LOT" "'-00<. I ______________LQ~~~~----------------~ ........, N EB Site Plan 3/32"=1 '.0" "\ I I \ I \ I \ I \ I \ I I I I I I 4- \ ~ \2~~ I~h \ 2 I \ I \ I I I ..\ I \ I \ I \ REG _ARCHITECTS 'INTERIORS 'PLANNERS INCORPORATE]) ~ EST. 1988 RICK GONZALEZ, A.LA. PREllOENT AR.OOI41n JII1 EVERN1A mEET - mI FU. WEST PALM BEACH FLORIDA 33<01 PH (561).659.llll FAlC (16 I), 6l9. II 4 6 tD'lDUl. ngcrehiUcts. com CORPORATION NUMBER AA.axlU41 Site Vecinity NTS BOYNTON BEACH CRA DESIGN STIJDIES SEPTEMBER 8th, 2009 CRA BUDGET REVIEW #1 E, Ocean Avenue Historic House & Sculpture Garden BOYNlON BEACH. FL IR~~!:~ REVISIONS NO. 6. 6. 6. 6. DATE ()8.l1.2009 SCAlE N,T,S. DRA \VN REG CHECKED VKiREG REG N~ 09014 @2009 ~JIII.rJHlI[ ......... ~ -- 1IIlt.~_H ........ ..... .. UIllftlS[lfQmI M:lI"CU!IJIIl'1lf. CII OIl8I'1Cl1C1S~RII"*11l1l5'M'H5 I'llClI:O'Il'0000000DaJI'I'.MIEDOI .....n.....-at CDf'8lS,l]Ql101lf..w:KI[Cl ~ ~-~ View of New Porch NTS SITE PLAN A2.1