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Agenda 03-14-06 If any person decides to appeal any decision made by the Board with respect to any matter considered at this meeting, he or she will need a record of the proceedings, and that, for such purpose, he or she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. CRA Board Meeting Tuesday, March 14,2006 City Commission Chambers 6:30 P.M. I. Call to Order II. Roll Call III. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda B. Adoption of Agenda IV. Consent Agenda: A. Approval of the Minutes CRA Board Meeting-February 14, 2006 B. Budget Amendment C. Fa<;ade Grant Application-Seagate of Gulfstream Condominiums-$15,OOO D. Enter into Lease Agreement for Relocation of CRA Offices IV. Public Comments VI. Public Hearing Old Business None New Site Plan 3. PROJECT: Tuscan Villas (NWSP 06-002) AGENT: Wendy Tuma, Urban Design Studios OWNER: Tuscan Villas @ Boynton Beach LLC LOCATION: East side of Federal Highway approximately 1,100 feet north of Gulfstream Boulevard DESCRIPTION: Request new site plan approval to construct 22 townhouse-style condominium units and related site improvements on 1.407 acres in the Infill Planned Unit Development (IPUD) zoning district. B. Seaview Park Club Site Plan Time Extension 1. PROJECT: Seaview Park Club (SPTE 06-002) AGENT: Andy MacGregor, Lennar Homes OWNER: Lennar Homes LOCATION: 1620 North Federal Highway DESCRIPTION: Request for a one-year Site Plan Time Extension for site plan approval granted on February 15, 2005, from February 15, 2006 to February 15, 2007. VII. Old Business: A. Homebuyers Assistance Program - Financial Analysis Discussion B. Update Adaptive Re-Use of the Old High School - Presented by: Corey O'Gorman C. Marina Parking Easement Agreement D. MLK Self Assembly Update E. Ocean One - TIF Agreement Discussion & Direction BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY QUASI-JUDICIAL PROCEDURES1 1. Ex parte disclosures by CRA Board Members. 2. The CRA Attorney outlines the hearing procedure, including a statement that any member of the Board may, at any time during the presentation of testimony, question any witnesses. 3. Attorneys or other individuals acting in a representative capacity make their appearances. 4. Request for identification of any intervenors.2 5. The CRA Attorney or City Clerk swears in all witnesses. 6. City staff members present a summary of the issues before the Board, testify as to their opinions and make recommendations for inclusion in "Conditions of Approval." (The CRA generally limits staff presentations to 15 minutes). 7. CRA staff members offer their comments and recommendations (The CRA generally limits CRA staff presentations to 15 minutes). 8. The Applicant presents its case, including acceptance or objection to proposed conditions of approval. (The CRA generally limits applicant presentations to 15 minutes). 9. Intervenors present their cases, examine previous witnesses. presentations to 15 minutes). offer their facts and OpiniOnS, and cross- (The CRA generally limits intervenors 10. Members of the public offer their facts and/or opinions. (The CRA generally limits public presentations to 3 minutes). 11. Intervenor rebuttal/final comments. (The CRA generally limits intervenor rebuttal presentations to 3 minutes). 12. Applicant rebuttal/final comments. (The CRA generally limits applicant rebuttal presentations to 5 minutes). 13. Staff rebuttal/final comments. (The CRA generally limits staff rebuttal presentations to 5 minutes). 14. CRA questions and deliberation / decisions. , The guidelines represent a generalized procedure for conducting quasi-judicial hearings and are subject to modification on a case-by-case basis. The controlling principal is that all interested parties have the opportunity to offer testimony. evidence and conduct cross-examination of witnesses. 2 An intervenor can be a person or a business. or even another government entity. who claims to have a direct and personal interest in the pending matter and who wants to have.the same legal rights and responsibilities to participate in the public hearing as the actual parties have. For example. an intervenor may also question the witnesses presented by parties and other intervenors. and can call its own witnesses, who will be sworn to tell the truth and will be subject to possible cross-examination by the parties and other intervenors. The decision whether to grant intervenor status will be made by the Board. Someone who does not qualify to be an intervenor, or could qualify but just does not want to be one, may be allowed to speak briefly on his or her own behalf, either to present facts or to state opinions. but cannot question witnesses, present witnesses, and so forth. It should be noted that being an intervenor in a matter under consideration by the Board does not guarantee that the intervenor can challenge or appeal the final decision in a judicial or administrative proceeding. Also, being an intervenor here may not even be a prerequisite to filing a challenge or appeal of the final decision depending upon what state laws or court rules require. Nicoie's Shares T:\AGENDAS, CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Quasi Judicial Procedures.doc 03/14/2005 14:05 5517425011 BOYNTON BCH CITY MGR PAGE 01 The City 01 Boynton i3Mc.h ~ Of The ay HilNtgt!r 100 E. Boynton /Je;I(;h BouItMIrrJ P.D. Box .110 8Dynton ~, fb1tJ,y 33415-0310 arr HaMgtr's~: (561) 742-6010 FAX': (561) 742-6011 ~: b.r::$/SIJt!I't/ItJ.~.lf.us "'"'"'. ~.org January 31, 2006 Ms. Lisa Bright, Director Boynton Beach Community Redevelopment Agency 639 E, Ocean Ave., Bte. 103 Boynton Beech, FL 33435 RE: Marina parking Dear Lisa: The City has analyzed the parking situation as it relates to the Boynton Beach Community Redevelopment Agency's ("eRA") purchase of the marina from DSS Properties, L.C. We understand that the contract has been entered into and the CRA is now in the due diligence period. As we have previously discussed and advised, the City acknowledges that since the CRA is absorbing a non-conforming use, the CRA's parking as it relates to the marina will be grand fathered once the eRA becomes the owner of the marina. I trust that this addresses your concerns. Please let me know if you have any questions. Kurt Bressner City Manager cc: Kenneth G. Spillias James Cherof Michael Rumpf Nancy Byme Vivian Brooks AMERICA'8 GATEWA l" TO THE GULFSTREAM 4- INCA VIEWS III let Cove Association MARCH 2006 SPECIAL EMINENT DOMAIN EDmON INCA Land Use Team members Nancy Chandler, Harry Woodworth and Lulu DaCamara attended the February 25,2006, Castle Coalition Eminent Domain Conference in West Palm Beach. This meeting was one of many being hosted by the Institute for Justice to kick off a nationwide, grass roots, "Save our Homes" campaign. Until the KELO decision last year made public domain a local issue, the United States Constitution specified that private property could be taken by eminent domain for public use. Here in Florida, our State Constitution specifies it can be taken for a public purpose, which can include economic development. In other words, if a city can get more taxes from your property if it's transferred to another owner for a "higher use", you are at risk. If your property is already included in a "redevelopment zone" this risk is very real. Don't be complacent and think, "it can't happen to me". Threats of eminent domain are happening allover Florida and America to people who thought "it can't happen to me"! Within Palm Beach County, eminent domain is being threatened in Riviera Beach, Delray Beach and right here in Boynton Beach. If this is happening to others in the CRA, it could also happen to vou! Remember, no individual determination of blight is needed prior to condemnation. Our homes and neighborhoods are already officially blighted by inclusion in the CRA. (Note: Last October the CRA condemned over 15 properties along Seacrest and MLK. "Negotiations" for these properties continue under the threat of eminent domain. At the February Commission meeting four more properties were threatened with eminent domain to provide parking at the Ocean One project. Fortunately the resolution was pulled from the consent agenda and tabled for now as the paperwork was not in place to proceed. ) The Florida Senate and House of Representatives will be voting very soon on legislation that will provide meaningful reform of the eminent domain laws and help preserve private property rights. Your action is needed. Protect your property! Take the future of your home and our community away from the whims of well connected developers. Let's get government out of the real estate speculation business. Contact your State Senators and Representatives and tell them you want them to curtail the use of eminent domain and support responsible legislation that prevents the taking of private property for economic development. Here's a list of our state representatives. Check your voter card for your district or go to this link and type in your address. httos:/Iaction.popuvox.com/default.aspx?actionID=214 (Use the above link to contact Senators Atwater, Nelson & Martinez; Representatives Hasner & Shaw; and Governor Bush.) Our State Senator is: Jeff Atwater (District 25) Ph: 561.625-5101; E-Mail: atwater. iefr. web@flsenate.gov Our State Representative is: Adam Hasner (District 87) Ph: 561.279.1616; E-Mail: adam.hasner@myfloridahouse.gov ~ """"""""""""""""J'~~"~~~~"",, "" '7 Members - 4 Yr. Terms ~./ Ordinance No. 000-69 (Changed from Commission to independent board) I COMMUNITY REDEVELOPMENT AGENCY __2005 I LAST NAME FIRST EXPIRES ADDRESS PROFESSIONAL NAME ASSOCIATION James 1/10/08 209 N. Seacrest Blvd. #1 Architect BOYNTON BEACH 33435 (561) 740-0041 cell: 561-414-9235 Alexander 6/20/06 10817 QUAIL COVEY RD Arvida Realty BOYNTON BEACH 33436 901 N Congress Ave - Ste. B-l02 (561) 732-6789 Boynton Beach, FL 33426 (561) 736-2400 Ext. 107 Fax (561) 736-1560 cristale@bellsouth.com stormet 1/10/10 800 W. BOYNTON BEACH Licensed Funeral Director BLVD. Boynton Memorial Chapel BOYNTON BEACH 33426 800 W. Boynton Beach Blvd. (561) 734-5600 Boynton Beach, FL. Heavilin Jeanne 1/10/09 PO BOX 243693 (734 NE Salefish Realty Chair 9TH AVE) 532 E Ocean Avenue BOYNTON BEACH 33424 Boynton Beach, FL 33435 (561) 731-4474 (561) 738-6613 Cell: (561)901-8714 Fax (561) 738-7911 jheavilin@msn.com Marie 6/20/08 3020 PINE TREE LANE Business Consultant BOYNTON BEACH 33435 Fax (561) 733-0034 (561) 733-0041 nhorenburger@cs.com cell 561 901-2583 Steve 1/10/09 3012 FERNWOOD DR Vice President, Commercial Division BOYNTON BEACH FL Quincy Johnson Architects 33436 949 Clint Moore Road (561) 736-3564 Boca Raton, FL 33487 Cell (561) 436-5834 561-997-9339 X31 Tillman Henderson 1/10/09 54 BENTWATER CIRCLE Spanish River High School Vice {;!Y:f 0 ~ BOYNTON BEACH, FL 5100 Jog Road 33426 Boca Raton, FL 33496 561 965-6776 561 241-2200 Ext. 2540 Revised 01/18/06 6 S:\CC\ WP\BOARDS\LISTS\CRA Board.doc - 03/14/2006 IV. CONSENT AGENDA- A. APPROVAL OF THE MINUTES CRA BOARD MEETING FEBRUARY 14, 2006 MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY HELD IN COMMISSION CHAMBERS, CITY HALL, BOYNTON BEACH, FLORIDA, ON TUESDAY, FEBRUARY 14,2006 AT 6:30 P.M. Present: Jeanne Heavilin, Chairperson Henderson Tillman, Vice Chair James Barretta Alexander DeMarco Marie Horenburger (arr. 6:38 p.rn.) Steve Myott Stormet Norem Ken Spillias, Board Attorney Lisa Bright, CRA Director I. Call to Order Chair Heavilin called the meeting to order at 6:30 p.m. and welcomed the new Board member, Stormet Norem. II. Roll Call The Recording Secretary called the roll and declared a quorum was present. Chair Heavilin recognized the presence in the audience of Commissioner Ensler. III. Agenda Approval A. Additions. Deletions. Corrections to the Aaenda Vice Chair Tillman asked to move New Business item IX.B, Consideration of a Redevelopment Proposal from the Heart of Boynton Self-Assembly Group for Phase I of the HOB Plan, to the beginning of the Public Hearing. Mr. Barretta asked to move Old Business item VIII.B, Consideration of the Final Draft for the Retail Demand Analysis, to follow Public Comments. He felt this should be heard prior to the other Old Business item VIlLA. Consideration of Additional Density within CRA. Attorney Spillias added an item under XI. Comments by Board Attorney, to consider request for assignment of direct incentive agreement in the Ocean Breezes matter and a report on the Ocean Breezes contract. Chair Heavilin added an item (L.) to the Consent Agenda, Resolution 05-15 regarding the necessity for two signatures on all Agency checks and authorizing signatories. B. Adoption of Agenda Motion Mr. DeMarco moved to accept the agenda as amended. Vice Chair Tillman seconded the motion that passed 6-0. 1 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 III. Consent Agenda A. Consideration to Negotiate a Contract with Ambit Marketing B. Consideration of Reimbursement of Fac;ade Grant to Hudson Realty in the amount or $15,000 C. Consideration of Resolution 05-13, Implementation of a Sick Leave ~haring Program D. Consideration of the Renewal to the City/CRA Interlocal Agreement for IT Services E. Acceptance of the Minutes from the Joint Workshop with City Commission - November 29, 2005 F. Consideration of a City/CRA Interlocal Agreement to allow CRA Staff to participate in the City's Insurance Program with Blue Cross/Blue Shield G. Acceptance of the Minutes from the CRA Board Meeting - January 10, 2006 Attorney Spillias pulled this item. H. Consideration of Employee Recognition Award - Robert Reardon 1. Consideration of a Contract with L.J. Craig & Associates to provide Job Task Analysis and Establish FTE Staffing Requirements Chair Heavilin pulled this item. J. Consideration of an Employment Agreement with Lisa A. Bright, CRA Executive Director K. Consideration of a General Fund Budget Amendment for the CRA 2005-06 Approved Budget Mr. Myott pulled this item. L. Consideration of Resolution R05-015 (added at agenda approval) Motion Vice Chair llllman moved to approve the Consent Agenda as amended. Mr. DeMarco seconded the motion that passed 6-0. V. Public Comments: Chair Heavilin opened the floor to public comment on items not on the agenda. 2 2 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Lee Wische, 11302 S.W. 18th Street, Boynton Beach, referred to a problem between the Planning & Development Board and the CRA. The Planning & Development Board asked Ms. Diana Johnson to request a workshop meeting to allow staff to present the big pidure of all the approved projects in the City to date. The request was made about two months previously and Mr. Wische inquired about the delay. Lisa Bright, CRA Director, responded she had made a recommendation to Ms. Johnson, copying Mr. Bressner, that this topic could be added to the March 23 workshop agenda. The C~ Board and the Planning & Development Board were in agreement the presentation was needed, but schedules of City staff and the City Commission had to be considered. Mr. Wische stated he would determine which Planning & Development Board members would be available at that time. Ms. Horenburger arrived at 6:38 p.m. Chair Heavilin closed the floor to public comments when no one else came forward to speak. VIII. Old Business (heard out of order) B. Consideration of Final Draft for the Retail Demand Analysis Vivian Brooks, CRA Planning Director, declared the additional scope of work on the Retail Demand Analysis report prepared by Howard Kohn of The Chesapeake Group had been received. The report covers the entire CRA area and concludes if the CRA were to develop retail in the seven nodes identified in the report, the City would need approximately 20K units of housing to make the retail viable. This was with the assumption that 25% of the new units would not be occupied full time and that there would be an approximate 50% capture rate of the inner and outer markets. Ms. Brooks sought policy direction from the Board to: 1) pursue higher density to accommodate development of retail in all seven nodes or, 2) reduce the amount of retail and concentrate it in fewer nodes. In the report, MLK Boulevard was assumed to have retail, but the consultant felt it would not be viable without subsidies. The submission to the Department of Community Affairs (DCA) was due on April 1, 2006. The submission was meant to facilitate the Land Use and Comprehensive Plan changes necessary to adopt some of the existing Corridor Plans. There were approximately 1,500 units in the wings, and if the changes were approved, site plans could be written. Mr. Barretta understood from conversations with Mr. Kohn some 20,500 units would be required to support the recommended retail and this was in addition to the units already existing and in the pipeline. If the City reduced the number of units by 3,000 as they planned to do, the number of units would be reduced to 11,000, considerably less than what was recommended for the commercial nodes. Mr. Barretta felt they had to increase residential or cut back the commercial nodes and concentrate in one or two areas. The CRA was investing a lot of time and tax money to create a downtown, and the direction in which they were heading was not adequate. He felt everyone shared a vision of creating a vibrant, viable, exciting downtown of which Boynton Beach could be proud. Something had to be done. 3 3 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Vice Chair Tillman felt retail nodes should be modified to match density numbers, but did not think this decision should hold up moving forward on other issues. Also, they had to keep in mind they had to maintain the community aesthetics that were in place now and not destroy them. He was in favor of studies showing how to increase the viability of retail, but the overall aesthetics of the area in which it would be located had to be taken into consideration. There was more involved than just putting a lot of buildings on the ground and calling it the new downtown. There was a larger picture and they had to be aware of it. Mr. Barretta felt if they built retail without more rooftops to support it, they would end up with a new kind of blight in the form of vacant buildings with white paper in the windows. There had to be a demand for the buildings. Everyone the CRA had talked to told them they needed more rooftops in the downtown, but the CRA had not implemented this in its plans. He felt they would have to concentrate the retail in one place, and not spread it out over Ocean Avenue, Woolbright Road, Boynton Beach Boulevard, and MLK Boulevard at the same time. They had also talked about a "wedding cake" scenario in regard to building heights and transitioning into residential areas, but had never implemented this in its plans. The direction staff had been pushing developers for the past few years was to have retail with residential above, but the developers did not have a clue of how they were going to fill up the retail component. Mr. Kohn was coming to the workshop on February 22 and could be reached by telephone if anyone wanted to discuss it with him before that meeting. Mr. Myott had discussed this at length with CRA staff and felt the needs of the senior citizens had to be taken into consideration in any discussion of density. Also, there were quality of life concerns. There were other concerns besides the pleasure of strolling down a street with a number of shops and restaurants. Mr. Myott did not think it was as simple as saying they needed a certain "X" amount of retail to have a viable downtown. Mr. Myott wanted to see an overview of the optimum population for the entire City and how the population impacted such resources as water. He felt Woolbright Road was becoming a "power center" and did not really serve the purposes of the CRA. He needed more information from the bigger picture to make a decision about the retail demand analysis study. Ms. Horenburger asked whether Mr. Kohn had considered the towns of Ocean Ridge and Gulf Stream, since those residents routinely used retail establishments in Boynton Beach. Ms. Horenburger wanted to see examples of successful and unsuccessful downtowns, particularly examples in which Mr. Kohn's approach had been followed. She also questioned Mr. Kohn's comment that office space could be a tradeoff for residential when they all knew there was currently a great demand for residential. She recalled when the Board could not find an office in which to move the CRA staff. She believed the City needed to have people living and working downtown and not just working in retail. She looked forward to the workshop and hoped Mr. Kohn could bring information to back up his assumptions. Chair Heavilin said the study had been done from the point of view of what the City needed to do to support retail. She wanted it to go a step farther and speak to how much retail the City should have based on its proposed residential population. She thought they might consider not requiring space to be built as mixed use. Also, they might have to reduce their concept of retail to the point that the population could support it. 4 4 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Ms. Brooks mentioned the DCA submittal involved heights and densities, so they needed to know about the Board's desires in that regard so they could write the submission. They could always go back to the DCA later if they found it should be changed. She commented Mr. Kohn had addressed the plans and the proposed density and believed there should be around 72 dujacre to support the retail on all seven nodes. They could look for middle ground where they could increase density in some areas and pull back retail in others. Currently, retail was not required in the Mixed Use-Low category. If a policy decision were made, staff would encourage developers not to do retail outside of the nodes they designated as the City's retail cor~s. That was the kind of direction they needed. There were developers who were waiting for amendments to be made to the Land Development Regulations and the Comprehensive Plan. Ms. Horenburger believed the issue should be community driven and not developer driven. Chair Heavilin saw the retail demand analysis as a tool to help them make decisions. She heard the Board asking for additional information, but felt they could make changes later if needed. Mr. DeMarco felt the CRA should give equal attention to the needs of the Heart of Boynton (HOB) area and other CRA areas. He recalled the meeting two months previously when 150 members of the HOB community had come to express their frustration that things were not happening fast enough in the HOB area. They complained of crime and drugs. The Board had talked for years about doing something there but there was very little to show for it. He mentioned a developer who presented a project with $250-300K homes. Mr. DeMarco wanted to see a building with apartments or condos in the amount of $100-150K. Ms. Brooks advised Mr. DeMarco there were a number of initiatives he would find of interest for the HOB later in the agenda. Mr. Barretta emphasized the Board had to move but had to move in the right way. If the wrong buildings were built in the wrong place, they could sit empty and have to be subsidized by the City for years and years. Ms. Brooks understood CRA staff was going to try to arrange a joint workshop at a time convenient to the CRA and the City Commission. The workshop would cover Mr. Kohn's retail demand presentation and a discussion on density. Mr. Barretta mentioned his difficulty in getting answers from City or CRA staff about the number of units in the CRA area. Ms. Horenburger asked to see figures on affordable housing at the workshop on February 22. She had seen a great article in the Palm Beach Post but did not know about the accuracy of the data or whether CRA staff could add to it. Ms. Brooks responded they would be identifying the existing housing stock in their presentation at the workshop. IX. New Business B. Consideration of a Redevelopment Proposal from the Heart of Boynton Self- Assembly Group for Phase 1 of the HOB Plan (heard out of order) 5 5 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Vivian Brooks, CRA Planning Director, declared the CRA had been working with a method of redevelopment known as self-assembly, where the CRA encouraged property owners to create developable sites. In the CRA area, most of the parcels are small and not reasonably developable on their own. HOB Phase 1 was one area in which self-assembly was encouraged. The proposal in front of the Board at this time was to allow the property owners: Larry Finkelstein with MPLF, Carolyn Young, Zamir Olesoy, and Mr. Barry, to partner with the City and the CRA in a limited partnership to develop the property as a mixed-use development. The idea was that by combining properties, the parties could reasonably expect to realize a higher gain as opposed to selling the properties as land. The amounts of affordable and commercial space would be decided later. A point in favor of the approach was that it could happen fairly quickly. Going out for a Request for Proposal on this site would probably not result in much developer interest since it was a small, CRA-driven project. The CRA wanted to get affordable housing and affordable commercial space from this site. The site was not an optimum development site since it was small, separated by a street, and had a very shallow north side. She sought direction from the Board about pursuing this approach. Ms. Bright stated under the former CRA Director, this particular group had been excluded in the HOB Phase 1 Eminent Domain process. If the Board did not want to pursue a concept agreement with the CRA, Ms. Young, the City and Mr. Finkelstein as general partners, with the other participants agreeing to be a limited partnership, they would be sent offer letters under Eminent Domain for HOB Phase 1. Chair Heavilin felt this project was also unique because it contained City and CRA land as well as private land. Ms. Brooks said more than 60% of the sites were currently under control or contract. Mr. Barretta had discussed self-assembly with attorneys representing some of the self-assembly groups and their opinion was to get one of them to work was very difficult. He felt the Board should exercise caution in becoming a partner in a process that was going to be time- consuming and arduous. They did not have enough staff to keep up with normal demands as matters now stood. Mr. Barretta was also leery of participation in this because there still had not been an analysis of the infrastructure costs involved with redevelopment in the HOB area. The Board had asked for this several months previously and had not yet seen it. He had been told the costs for water, sewage and drainage might be so high that all of their plans to date would evaporate since they had not been built with knowledge of the required data. Mr. Myott asked how much it would cost to give the attorneys time to review the partnership agreement, and have an architect do a site plan and rendering. Ms. Bright responded it would cost $15-20K maximum. Mr. Myott was aware of a need to do something in the HOB area and was pleased a group of people had gotten together and expressed interest. He felt comfortable with Mr. Finkelstein's track record as well. He was in support of trying it and letting them come back to make a presentation next month under New Project Review. Vicc Ch~ir Tillm~n was ~Iso plcascd to scc ~ privatc/public PQrtncrship Qnd felt thc group h~d thc protocol and fin~ncial bQcking to do it. Thc Board had ~ rcsponsibility to cnd slum Qnd blight Qnd thc ~rCQ covcrcd by thc proposcd project dcfinitely rcprcscnted thQt. Thc Bo~rd h~d to continuc its mission to cnd slum Qnd blight Qnd that WQS 'Nhy thcy wcrc in busincss. 6 8 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Vice Chair Tillman declared the Heart of Boynton was a large part of the CRA. A self-assembly team had come together that owns the land. Thev had come forward to oropose to do business with the City in a private/public oartnership. They had the protocol and the financial backing to do it. This Board has a responsibility to uohold what its mission is. Part of that mission is ending slum and blight. Certainly that area reoresents that. The resoonsibility facing this Board is to make this happen and follow our mission statement. That is why we are in business. We have done what we have done downtown. We have moved the mission crosstown. Now is not the time to stall. This is not a game. This is about business. Most of the Board members. I have heard of suoport that. We need to make this unanimous. Ms. Horenburger agreed with Vice Chair Tillman but still wanted to see what part of the partnership and how much the CRA would have to fund before getting behind it all the way. She wanted to know because costs for land, building materials, etc. had spiraled since the HOB Plan was conceived. She would not be in favor of a single family affordable home that would cost the purchaser and person who would dwell in it $200-225K, if that home would cost the CRA and the City $900K to build. She hoped the economic analysis currently underway would be done soon, since it might affect they way they looked at things. She was also concerned about developing the HOB area in a piece meal way, but could agree to move ahead on the initial phase, pending more information. Carolyn Young, 15112 Tall Oak Avenue, Delray Beach, spoke as one of the general partners trying to redevelop the area. The self-assembly group had been working for months with the former CRA Director and the City to develop this property. She was not happy with the crime and drugs in the area. When people from the area were willing to invest their resources to improve the area, she would expect some positive support from the Board for an implementation plan for the HOB area. Pami Maugham of Weiner 8r. Aronson in Delray Beach, commented the concept of self- assembly was laudable but fraught with dangers. landowners were not land developers. It took time, money and skill to insure redevelopment happened correctly. Doing a few parcels here and there was not a route that would lead to long-term stability and economic vitality. It would hinder development because of increased the costs of construction and acquisition. She felt many self-assembly groups had their expectations raised to the point they were no longer realistic. She urged the Board to reject self-assembly as a tool because the members were being asked to risk too much. If the market were to take a downturn, this could be the most costly mistake of their lives. For most people, their property is their major asset and they would be risking it all. Mr. Barretta asked Ms. Maugham if her firm had been involved in any self-assembly efforts. Ms. Maugham responded they had been asked to represent some, but tended to shy away from them since they were difficult. David Zimet, Faith-Based Community Development Corporation, 2191 North Sea crest Boulevard, Boynton Beach, felt the people behind the self-assembly idea should be lauded. It could be a tremendous benefit to the area. As Vice Chair Tillman had said, it was time to get something done and this was a way to do that. The City and CRA would participate and private individuals were willing to participate. That was a wonderful mix. He felt the people 7 7 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 involved in the self-assembly group were able to protect their own interests. It was not up to someone else to tell them they did not know how to do that. Larry Finkelstein, 1114 North Federal Highway, Suite 202, Boynton Beach, responded the self-assembly had been in progress for two years. It was not being done piece meal. They planned to do the Phase I project as previously approved. He heard a Board member suggest they be given 30 days and he asked for 60 days. They also wanted to do a feasibility study as they would do if they were regular developers. Mr. Barretta commented if the self-assembly group had been working on the project for two years, could it not wait for one more month so the City could provide the information needed to accurately assess the fiscal impact of the project? Mr. Finkelstein believed every month was critical in terms of the rising cost of materials. The main point was the zoning and land use still had not been changed. If the CRA did not go to DCA with that, they could not build anything there anyway. They hoped to be a catalyst to nudge that process along a little faster so they could actually come before the Board with a product. If they did not have to wait, they did not want to wait. Ms. Horenburger did not believe Mr. Finkelstein lived in the area of the proposed project and understood the assembly would be done by persons living and owning property in an area. Mr. Finkelstein said he did not live there and most of the property was zoned commercial. Mr. Finkelstein commented he had two lots, one in Phase I and one in another phase. Ms. Horenburger had been under the impression that assembly would be done by persons living and owning property in an area but was now hearing that was never the concept. Investors could come in and assemble it themselves. Chair Heavilin responded it was almost impossible for a commercial property owner to be a resident. Brian Edwards, 629 N. E. 9th Avenue, Boynton Beach, thanked the Board members who had spoken about the community, especially on the issue of self-assembly. A precedent was set recently and everybody rallied around the effort and assisted that group of people. Now was not the time to backpedal when somebody was trying to move forward, in his opinion. When he heard about analyses, surveys, and high-paid consultants coming in with numbers that went through the roof, he was concerned about the CRA forgetting the people in the community had a voice about how their community should look. The community wanted to be heard. He felt a few people were losing sight of that. Ms. Horenburger would support authorizing staff to begin negotiations towards a partnership agreement with the self-assembly group but she wanted to know how much it would cost. She wanted to know what the infrastructure costs would be to do even this Phase I project. She felt the self-assembly group could be given sixty days, or even ninety days if it took that long to get the infrastructure costs. She could not make a commitment not knowing what the real costs would be to the CRA. Mr. Barretta agreed with Ms. Horenburger and would also not vote yes on a project without knowing the cost to the CRA. He would also not be prepared to vote on a project until he knew the overall direction for the downtown and the HOB. He could not approve a single project in a vacuum. 8 8 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Mr. Myott felt a feasibility study would be a first step, but he would appreciate a status update at next month's meeting anyway. Motion Vice Chair Tillman moved to authorize staff to enter into an agreement after the self-assembly group had done a feasibility study not more than 90 days from now, determining the financial viability of the CRA and City working with the self-assembly group to provide a redevelopment proposal for the HOB Phase I Plan. Mr. Barretta seconded the motion. Chair Heavilin asked if he meant project plan or authorization of partnership agreement. Ms. Brooks indicated if the Board wanted staff to move forward with a site plan and feasibility analysis, some funds had to be authorized to do that. Ms. Horenburger did not think the CRA was doing the feasibility analysis. Ms. Brooks stated the CRA had to do a site plan as a general partner. The money would be put up and received back at the end. It would count as a share towards the partnership. Vice Chair Tillman asked to be updated regularly on this. Chair Heavilin thought the partnership agreement was a separate issue from the self-assembly group development proposal and site plan. Ms. Bright said she had been given direction at the previous month's meeting to negotiate a contract with Treasure Coast Regional Planning Council regarding the feasibility study of the HOB area. Staff had just gotten a proposal back from Treasure Coast at 5 p.m. today. The timeline given in the proposal, if approved by the Board, was eight weeks. Mr. DeMarco believed there were five acres in the HOB that would be available, with help from the City to purchase, where they could at least start building some apartment units. The units could be 1 bedroom 1 bath or 2 bedroom 2 bath. There could be a recreation center and pool and accommodations where people could enjoy life, especially senior citizens. The complex could be from 100 to 150 units and be reasonable to purchase if the City owned the land. He thought the 1 bedroom 1 bath units could be built for $100K and 2 bedrooms 2 bath for $150K. He believed everyone should think positively about this and just move forward on it. There was a way to do it if the community, the CRA and the City worked as a team. Chair Heavilin felt a month's delay was very important in light of the rapidly rising market costs. She mentioned the "paralysis of analysis." She felt the CRA should get back to what the community needed. Mr. Norem called the question. .. The motion passed 7-0. VI. Public Hearing Attorney Spillias asked the Board members if they had any ex parte communications with the developers having projects before the Board at this meeting. Chair Heavilin indicated she had 9 9 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 been present at a meeting where some of the plans for Yachtsman's Cove had been presented. Attorney Spillias swore in all the persons who expected to speak during the public hearing. A. Land Use Amendment Plan Amendment Rezoning Description: Yachtsman's Cove (LUAR 06-003) Atlantis Environmental Engineering, Inc. Yachtsman's Property, LLC East side of Federal Highway approximately 375 feet north of the Boynton (C-16) Canal Request to amend the Comprehensive Plan Future Land Use Map from Local Retail Commercial (LRC) to Special High Density Residential (SHDR); and 1. Project: Agent: Owner: Location: Proposed Use: Request to rezone from Community Commercial (C-3) to IPUD Infill Planned Unit Development 61 townhouse units Abandonment Description: Yachtsman's Cove (ABAN 06-001) Atlantis Environmental Engineering, Inc. Yachtsman's Property, LLC East side of Federal Highway approximately 375 feet north of the Boynton (C-16) Canal Request to abandon a portion of the Northeast 15th Place right-of-way 2. Project: Agent: Owner: Location: New Site Plan Description: Yachtsman's Cove (NWSP 06-003) Atlantis Environmental Engineering, Inc. Yachtsman's Property, LLC East side of Federal Highway approximately 375 feet north of the Boynton (C-16) Canal Request new site plan approval to construct 612 fee-simple townhouse units and related site improvements on a 3.35-acre parcel in the Infill Planned Unit Development (IPUD) zoning district 3. Project: Agent: Owner: Location: Eric Johnson, Planner, presented all three Yachtsman's Cove items at the same time. Staff recommended approval of the land use amendment and rezoning, new site plan, and abandonment, with conditions. The buildings were presented as two and three-story buildings and did not negatively impact any of the surrounding residential communities with the exception of Building 1. Building 1 was proposed as a three-story building but was only 12 feet away from a single-family detached home abutting the project. Staff determined compatibility 10 10 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 would best be achieved by limiting the structure height to a maximum of two stories on Building 1. The project has more than sufficient parking and meets the traffic performance standards of Palm Beach County. Potable water and sanitary sewer requirements would not exceed supply. Fire and Police determined the current staffing levels would be sufficient to meet the expected demand for services. Mr. Johnson indicated the project had been compared to the required criteria used to review projects that include an amendment to the Comprehensive Plan. Future Land Use Map and met all criteria. Wee Chair Tillman left the meeting at 8:00 p.m. The decorative cupolas are 46' 9" tall and do not meet the 45 feet zoning regulations. Staff recommended reducing the cupola height to 45 feet or requiring the applicant to request approval for a height exception. Staff reviewed the design of the buildings and found them to be acceptable. The site plan had 61 conditions of approval. Staff recommended approval of all requests, believing the proposed project would have a positive impact on the values of adjacent properties and would contribute to the overall economic development of the City. The conditions of approval associated with the abandonment request relate to underground utilities, which have to be redirected to the site through easement or the re-routing of N.E. 15th Place. There was one condition of approval for the land use amendment/rezoning since the subject property lies within the hurricane evacuation zone. Projects having more than 50 units have to have proper notification by homeowner's association in the event of a hurricane. Vivian Brooks, CRA Planning Director, declared she had been working with the adjacent neighborhood and the applicant for eight months. The applicant was more than willing to address issues raised by the neighborhood. The neighborhood was concerned about the proposed re-alignment and straightening of N.E. 15th Place to the south. There would be a large amount of traffic generated by 61 units, especially at peak hours. The neighborhood requested the applicant ask permission from the Florida Department of Transportation (FOOT) to create a turn lane slightly to the north of the project to help alleviate this. Ms. Brooks learned the applicant had now received that permission. The neighborhood also wanted the landscaping on the medians of the new N.E. 15th Place to be significant enough so the homeowners would not have a visual of Federal Highway. The CRA recommended approval with conditions. Board Comments Ms. Horenburger inquired whether the Inlet Cove Neighorhood Association (INCA) had reviewed the plans and Chair Heavilin responded they had done so and were present. AI Capellini, Atlantis Environmental Engineering, Inc., agent for applicant, introduced himself and Slattery Associates, the project architects. 11 11 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Chair Heavilin asked the applicant if he agreed with all conditions of approval and the response was affirmative. Kobe Cohen, the developer, indicated the project would meet the CRA's need for increased residential to support retail. It would also reduce the discharge of stormwater by increasing the amount of green area. And, they would be removing old buildings. In regard to the abandonment of a portion of the N.E. 15th Place right-of-way, the applicant asked the City to accept the dedication of the new road. All the necessary infrastructure changes w<?uld be relocated to the new road and paid by the applicant. Several Board members indicated they would be willing to waive the presentation by the developer unless the public had questions. Mr. Norem asked whether the applicant had any disagreements with staff's presentation and recommendations, and they had no disagreements. Chair Heavilin asked what the applicant's intentions were in regard to condition of approval #51, the alternatives for Building 1. Mr. Cohen responded they would be reducing the height of Building 1 to two stories. Chair Heavilin opened the floor for the public to speak. Stanley Nitkowski, 670 N.E. 15th Place, Boynton Beach, 2006 INCA President and only spokesman at this meeting, presented a letter summarizing the agreements between the applicant and INCA. He asked to be able to read the summary of agreements. Chair Heavilin asked if the contents of the summary had been included in the conditions of approval and Mr. Nitkowski responded they had not been included. A considerable discussion ensued. Although the Board was interested in accommodating INCA and its requests, it was finally determined the requested revisions/agreements between INCA and the developer would have to be submitted by the developer in a revised site plan application, which staff could review and the Board could consider. It was made clear to the INCA representative the Board could only approve plans that were before it, plans that had been submitted and reviewed by City and CRA staff. Although the changes seemed to relate to minor modifications such as fencing and landscaping, one of the changes was the moving of a building by five feet. It was felt staff had to review the proposed changes to determine whether they met City codes before making a recommendation. Mr. Johnson explained modifications to site plans required staff review. Although it would seem that increasing landscaping was acceptable, reducing setbacks and moving buildings might not be acceptable. Staff would have to determine whether or not the modificationCs) were major or minor. If the recommendation was to approve the site plan at this meeting as is and there were subsequent changes to the site plan, the changes would then be reviewed by staff. If the changes were deemed minor, staff would handle them administratively. If the changes were deemed major, a revised site plan would need to be brought before the CRA and the City Commission for approval. Ms. Horenburger introduced a motion but was advised it would have to follow the closing of the Public Hearing. 12 12 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Steve Homrich, 690 N.E. 15th Place, Boynton Beach, former INCA. President, referred to a dispute between a developer and the neighborhood a year ago that resulted in a determination by INCA that in future, it would try to work out its concerns with the developer before coming to the City. They had a little trouble with this one because the former Executive CRA Director had not helped them get together and actually kept them apart. The day after the former CRA Director resigned, the current CRA staff worked to get INCA together with the developer. The plan on the table before them showed N.E. 15th Place would be straighte':led out like an arrow right down to Federal Highway. Nobody wanted that. INCA and the developer had worked hard to put a little curve back into the road and make some changes, all of which were not shown on the plan before the Board. He said the Board was considering approval of a plan that did not include any trees on the medians on the revised roadway. Those were the types of changes they were talking about. They felt they were minor, but he hoped the Board would include their landscaping requests, at least. He asked the Board to instruct the developer to meet with INCA one more time so they could come forward to the City with a finalized site plan that took their requests and agreements into consideration. He felt the changes were minor. Ms. Horenburger said in the motion she was going to make, staff would be authorized to review the proposed changes recommended by INCA. Chair Heavilin closed the public hearing when no one else came forward. Motion Mr. Barretta moved to approve the request for land use plan amendment/rezoning for Yachtsman's Cove, subject to all staff conditions. Mr. Myott seconded the motion that passed 6-0. Motion Mr. Barretta moved to approve the Comprehensive Plan Future Land Use Map from Local Retail Commercial (LRC) to Special High Density Residential (SHDR), related to the Yachtsman's Cove request, subject to any conditions. Mr. Myott seconded the motion that passed 6-0. Motion Ms. Horenburger moved to approve Yachtsman's Cove's request for new site plan approval NWSP 06-003, subject to satisfaction of all comments indicated in Exhibit C, Conditions of Approval. Any additional conditions recommended by the Board or City Commission shall be documented accordingly in the conditions of approval. The CRA recommends the City review the adjustments and changes recommended by INCA. Mr. Barretta seconded the motion that passed 6-0. Motion Mr. Barretta moved to approve Yachtsman's Cove's request for abandonment (ABAN 06-001), and relocation of a portion of the N.E. 15th Place right-of-way per the approved site plan. Mr. Myott seconded the motion that passed 6-0. The Board complimented staff and the developer for the presentation of a nice project and a much-needed improvement. 13 13 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida B. Land Use Plan Amendment/Rezoning 1. Project: Agent: Owner: Location: Description: Proposed Use: Major Site Plan Modification 2. Project: Agent: Owner: Location: Description: Height Exception 3. Project: Agent: Owner: Location: Description: February 14, 2006 Wilson Center Complex (LUAR 06-005) Wally Majors, Recreation & Parks Director City of Boynton Beach 211 N.W. 13th Avenue Request to amend the Comprehensive Plan Future Land Use Map from Medium Density Residential (MeDR) to Recreational (R); and Request to rezone from Single and Two- Family Dwelling District (R-2) to Recreation CREC) district. Recreation (expansion of the Wilson Center Park Complex) Wilson Center Complex (MSPM 05- 011) Wally Majors, Recreation & Parks Director City of Boynton Beach 211 N.W. 13th Avenue Request Major Site Plan Modification approval for park expansion and improvements to include a 13,816 square foot recreation community center, a lighted multi-purpose athletic field, playground, picnic area, basketball courts, new swimming pool, and a refurbished pool building and additional parking on 5.27 acres zoned REC. Wilson Center Complex (HTEX 06-002) Wally Majors, Recreation & Parks Director City of Boynton Beach 211 N.W. 13th Avenue Request for Height Exception approval to allow a decorative cupola on the roof of the proposed two (2)-story Wilson Park community center building at a height of 52 feet, seven (7) feet above the maximum building height limit of 45 feet in the REC zoning district. 14 14 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Kathleen Zeitler, Planner, reviewed the staff report and recommendations for the land use plan amendment and rezoning changes. The City-owned and operated park is expanding in the Heart of Boynton area. The proposed expansion is consistent with the Comprehensive Plan and staff recommends approval of the land use and rezoning. Also, there was a major site plan modification for the expansion where additional lots were being added. The City proposes to increase the site from approximately four acres to 5.72 acres. Ms. Horenburger was curious since there was an expansion and yet the report said,. "Fiscal Impact Funding Source - None." The explanation was that there was no cost to the CRA. Ms. Zeitler showed floor plans for the Center detailing classrooms, computer rooms, small kitchens, restrooms, and large lobby areas. The building was of Floribbean architecture with a standing seam metal roof. The building itself was 42 feet in height but the decorative cupolas planned for the two-story Wilson Park Community Center building extended to 52 feet and required a height exception. Vivian Brooks, CRA Planning Director, indicated this was one of the key projects in the Heart of Boynton Redevelopment Plan and she was excited to see it come forward. This project represented real movement in the HOB area, which should be well received by the residents. She recommended approval. Mr. Myott asked for a colored rendering of the project and one was provided. The building is light blue in color. Wally Majors, Recreation & Parks Director, indicated the City had no issues with the conditions of approval and was looking forward to moving the project forward. Chair Heavilin opened the floor for public comment. Since no one came forward, Chair Heavilin closed the floor. Motion Ms. Horenburger moved to approve amendment of the Wilson Center Complex (LUAR 06-005) Comprehensive Plan Future Land Use Map from Medium Density Residential to Recreational and to rezone from Single and Two-family Dwelling District to Recreation district. Mr. Myott seconded the motion that passed 5-0. (Mr. DeMarco was out of the room.) Motion Ms. Horenburger moved to approve the Wilson Center Complex (MSPM 05-011) major site plan modification for park expansion improvements to include a 13,816 square foot recreation community center, a lighted multi-purpose athletic field, playground, picnic area, basketball courts, new swimming pool, and a refurbished pool building and additional parking on 55.27 acres zoned Recreation. Mr. Norem seconded the motion that passed 5-0. Motion Ms. Horenburger moved to approve the Wilson Center Complex (HTEX 06-002) request for height exception approval to allow a decorative cupola on the roof of the proposed two-story Wilson Park Community Center building at a height of 52 feet, seven feet above the maximum 15 15 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 building height limit of 45 feet in the Recreation zoning district. Mr. Norem seconded the motion. Ms. Horenburger suggested City staff or the CRA move forward with a Code amendment stating cupolas would be exempt from the height limitations. They were a recurring issue. Mr. Barretta did not believe the Board had voted on the height exception issue in the Yachtsman's Cove project. Attorney Spillias pointed out they had not made an applicatiqn for a height exception and when they did, it would be brought before the Board. The conditions indicated a height exception request and approval would be necessary. The motion passed 6-0. (Mr. DeMarco was back on the dais.) VII. Pulled Consent Agenda Items IV-G Acceptance of the Minutes from the CRA Board Meeting - January 10, 2006 Attorney Spillias indicated on page 15 of the subject minutes, first full paragraph, second sentence, the words would be should be inserted in front of determined and the word determined followed by later, with the rest of the sentence proceeding as stated. He wanted it to be clear the quick take process did not have the taking and the amount determined at the same time. He was saying that in the quick take method, you get the property and the amount is determined at a later time. Motion Mr. Barretta moved to approve the subject minutes as amended. Mr. Myott seconded the motion that passed 6-0. IV-I Consideration of a Contract with L.J. Craig & Associates to provide Job Task Analysis and Establish Full Time Employee (FTE) Staffing Requirements Chair Heavilin wanted assurance that setting of goals and accountability for the different positions would be part of the scope of work. Ms. Bright responded several Board members had expressed interest in having work plans and management by objectives. L. J. Craig & Associates would be analyzing the CRA job descriptions, establishing accountability and determining individual workloads. Chair Heavilin felt that prior to this, there had been very little goal setting or accountability and Ms. Bright agreed. Motion Mr. Norem moved to approve a Contract with L.J. Craig & Associates to provide Job Task Analysis and Establish FfE Staffing Requirements. Mr. Myott seconded the motion that passed 6-0. IV-K Consideration of a General Fund Budget Amendment for the CRA 2005-2006 Approved Budget (Resolution 05-14) Mr. Myott asked Mr. Reardon to comment on this item. 16 18 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Robert Reardon, CRA Finance Director, explained the item related to amendments to the 2005- 2006 Budget. Mr. Myott asked about losing the contingency in Exhibit A. Mr. Reardon indicated he had found the money in the bond principal payment "guesstimate, and put it into the contingency account when the budget transitioned from a narrative one to account-based budgeting. In the future, he would be in charge of budget preparation and would work with the Board. If th~ Board chose to have a contingency account for its own purposes, he would only suggest changes to the contingency account based on the Board's recommendation. In every other account, he would be able to move money from department to department on his own. He would be coming to the Board monthly since his credo was not to ever let over expended accounts go beyond one month. This allowed staff to cut programs if necessary to "plug a hole" that was not expected. Mr. Myott agreed with Mr. Reardon's methods and hoped they could recreate a contingency along the way from accounts that were not spent. Mr. Reardon said they could, but at the end of the year, everything would go to the fund balance. They had recently concluded the 2004-2005 audit and he would give this to the Board at its next meeting, along with the next budget report from the new software. In response to a question from Chair Heavilin, Mr. Reardon explained he was asking for approval to make intra-departmental changes to the budget. It had been his practice to make amendments within a department himself if it were found too little was budgeted. If it had to come outside of the department, by law, it was in the Board's purview. He stated all the increases in Exhibit A were being offset by appropriations to other departments and not within. He did not want to waste the Board's time moving $300 from one line to another, but he had to move the larger numbers. For example, they no longer had the Police program so those monies were available. Mr. Reardon commented the Board's approval of this Resolution would give him the authority to move the listed amounts of money as shown in Exhibit A, right now. Next month, he would bring the Board another "wish list." Motion Mr. Norem moved to approve Resolution No. 05-14 Budget Amendment Request. Mr. Barretta seconded the motion that passed 6-0. VIII. Old Business A. Consideration of Additional Density Change to MU Districts Within CRA CRA and Planning & Zoning staff sought direction from the Board on proposed amendments to the Comprehensive Plan and Land Use Regulations for submission to the Department of Community Affairs (DCA) by April 1. Ms. Brooks asked the Board to verify the proposed recommendations regarding density, height and the designated "Downtown District." A considerable discussion followed. 17 17 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14/ 2006 Ms, Brooks indicated if the Board wished to consider additional density, City and CRA staff had worked together to designate areas (marked in blue on the map) where additional density could be placed and not affect adjoining single-family residential communities. That area is basically west of Federal Highway, south of 2nd Avenue down to approximately 10th Avenue, and includes areas at the two western corners of Woolbright Road and Federal Highway. Mr. Barretta felt that having additional height and density at Woolbright Road ran contrary to the recommendations of the Federal Highway Corridor Study, and Ms. Brooks agreed to an extent. Mr. Barretta contended the study suggested stepping height down away from the core. Ms. Brooks responded the Study did acknowledge a higher intensity node at Woolbright Road up to 100 feet. Mr. Barretta could support the recommendation from CRA and City staff for the purposes of getting it in to the DCA, with the hope it would be amended some time during the process. He felt it was a shame they wanted to vary from the Federal Highway Corridor Study, which they had all endorsed and embraced. Losing 3/400 units and replacing them with 700 units, when they probably need something between 700 and 10/000 units, was woefully inadequate and did not represent thorough planning. He hoped the upcoming workshop would take another look at this. Chair Heavilin pointed out INCA zoning had always been residential and the 3K units would never have been put there. Mr. Barretta felt it was a loss of potential density. Ms. Brooks responded the actual adoption of the Federal Highway Corridor Study superseded the mixed- use land use that now lay on INCA and that called for single-family development. In the Comprehensive Plan, those units were never counted so if you did not have them, you could not lose them, she said. Ms. Brooks referred to the 1M sq. ft. of retail suggested by Mr. Kohn, saying she believed it was too much in light of the closeness to Congress Avenue. She felt a compromise would be to add some density somewhere else and actually pull the retail into a tighter area. Mr. Barretta fully supported that, but was concerned the Board was taking action on the amount of retail at the Woolbright Road node. He felt that would impact what could be done in the central Ocean Avenue node and was not the kind of retail they would prefer downtown. The Woolbright Road area was more like a power center, as Mr. Myott indicated. The City's zoning ordinances encouraged that kind of development at the Woolbright Road node, and it was counterproductive. He felt retail should be cut back at the Woolbright Road node and not at Ocean Avenue. Ms. Brooks commented the only additional retail at Woolbright Road was the Gulfstream site but it would only have 43,000 sq. ft. Mr. Barretta did not believe it was a matter of additional retail. The Winn Dixie site could have been developed as something other than retail. Mr. Barretta felt retail should be discouraged at the Woolbright Road node so it could be encouraged at the Ocean Avenue core node, which was where they wanted to build the downtown. People would not walk from Ocean Avenue or Marina Towers to Woolbright Road to go shopping, but they would walk to Ocean Avenue. Ms. Horenburger felt the two retail nodes at Woolbright Road were very successful. Mr. Barretta did not believe that meant they could not be redeveloped into condominiums. 18 18 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Ms. Brooks declared there would be approximately 1,100 units on the Winn Dixie and Sunshine Square sites, as proposed. Mr. Barretta felt they would still have several hundred thousand square feet of retail and that was taking away from the core at Ocean Avenue where it was needed and wanted. Mr. Myott commented most of that retail was grocery stores. Mr. Barretta felt Ocean Avenue could support an urban Publix or Whole Foods Market as a downtown area so people could walk to it. Ms. Brooks said they had been speaking to someone about that. Ms. Horenburger did not see the rush to get the proposed amendments to the DCA. ~he was not in favor of 100 feet at the listed locations in consideration of some of the residential that existed around it. She wanted to take a closer look at it and workshop it some more. She was not prepared to move forward with this. Ms. Brooks declared staff still needed direction to move forward with the proposed changes affecting the HOB, Woolbright and Federal Highway areas. Mr. Barretta said it all started at the workshop when the Planning Department presented options to change current zoning districts. The net effect of that was when they asked what the impact was on residential density, nobody had the answer. After research, staff determined they would be losing about 3,500 plus or minus units. When the economic effect was perceived, the implications to the viability of the downtown became evident. This led staff to look for other places to put density back. They found a place for 700+ units but it was not nearly enough and was not the answer. Mr. Myott did not believe the location for the 700+ units warranted 100 feet heights. Mr. Barretta felt there were better ways of getting additional density and better places to put it. Mike Rumpf, Planning & Zoning Director, said: 1) The "wedding cake" theory and stepping down heights was not something that had been emphasized in the Federal Highway Corridor Study. The Study recommended two mixed-use districts numbered from 1 to 5. There is logically a more intense core with a lower, subordinate area to the north and south at 75 feet and a density which is half that of the core. From that, the outlying areas have heights of 45 feet. Staff had described this as a "wedding cake," but it was not a vital component of the Study. The Study was more focused on uses and redevelopment; 2) The density of those areas in INCA or commercial conversion of it did not really exist. The Plan also recommended redeveloping those areas consistent with residential, increasing some lot development potential, decreasing setbacks and so forth, but not converting those areas to commercial; 3) Mr. Rumpf was not a retail expert but as a planner, it would be unique to say you need "X" number of units to have this much square footage of retail. If they had an economic development strategy saying they wanted to be "X," and "X" was defined as some type of activity center including say 1M sq. ft. of commercial space and high-end stores, they might want to follow that approach. Mr. Barretta had not been to as many conferences as Mr. Rumpf, but within the last year, he had attended a conference and heard an expert on downtown planning. He said "the" way to create a downtown was to establish a vision for what was wanted. Did they want it to look like Atlantic Avenue, for example? If they did, they would need 1M sq. ft. of retail. If they were going to end up with 1M sq. ft. of retail, X number of units would be needed to support that. There were experts who insist that is the proper way to plan. Ms. Horenburger responded that would be true only if it were the will of the community. 19 19 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Mr. Rumpf proclaimed staff was hesitant to place greater density and intensity in the coastal area, based upon DCA's policy prohibiting it. That theory was tested and proven when they did their initial changes for the Mixed Use-High in the downtown. Based on that, the Comprehensive Plan regulates density in the coastal area and keeps it at an average of what the maximum was at that time when they went to 80 du/acre. DCA saw it as averaging at 40 du/acre in the core area. Staff had influenced a commercial component of a mixed-use project, as noted by Board member Barretta. Mr. Rumpf commented the majority of projects staff had reviewed to date had been in the downtown core. It was hard to compare Promenade/Arches/Marina projects with anything else happening in Mixed Use-Low. That was where they wanted to concentrate the commercial so they endorsed the ordinance requiring it on the first floor against arterial roadways, Mr. Myott asked Mr. Rumpf what his recommendation would be for Board direction. Mr. Rumpf responded the Comprehensive Plan changes proposed were very minimal and were detailed on the map included in the agenda packet. He recommended the Board advise staff to go forward to the DCA on the proposed amendments and recommendations and consider them in the future if further changes were desired. The DCA changes would only pertain to the R-3 category because R-3 for the HOB was being changed, possibly to incorporate affordable housing. The greatest role on the part of the CRA would be to amend the Redevelopment Plans to correspond with the proposed changes. Mr. Myott believed Mr. Rumpf suggested the Board move to submit the plan as it stood with the amendments outlined in the agenda package. Mr. Rumpf agreed. Motion Mr. Myott moved to approve moving ahead with the amendments and submission to the DCA as presented and consider changes in the future if needed. Mr. Barretta seconded the motion. Mr. Barretta was willing to support this, but hoped it could be looked at again after the CRA and the City Commission workshop because it was important. He did not really care what kind of downtown came into being, but thought the Commission appointed the CRA to create a vibrant, viable downtown. If that was not what the Commission or the City wanted, he would readjust his thinking. Chair Heavilin declared part of the vision of what the downtown should be should come from the CRA. Ms. Horenburger commented it was a public policy matter on which the elected officials would have to deal with their electorate. The CRA did not have to do that. In regard to white paper on stores, Ms. Horenburger believed that was also seen on successful downtowns because of escalating rents and businesses that could not afford them. That kind of thing was out of the CRA's control. Mr. Barretta said it was different than mandating that people build retail they could not rent. The motion passed 5-1, Ms. Horenburger dissenting. Mr. Myott recalled when the City had a unified vision after the Visions 2020 conference in 1996. There was consensus by the board, planning, and the community on what people wanted. He thought there was more civic involvement today than back then and wanted to see another visioning effort. Mr, Barretta and Ms. Horenburger agreed wholeheartedly. 20 20 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Mr. Barretta noted half of the HOB area seemed to want what the Intown developers proposed and the other half wanted something else. What was their consensus today? Had it changed since the Heart of Boynton Plan had been approved? What was the consensus on Ocean Avenue? Did they want something like Las Olas Boulevard? Did they want all residential with people going to Congress Avenue for their shopping and not have restaurants and clubs and museums on Ocean Avenue? He thought it was essential to refresh the vision because they were making decisions monthly without really knowing what the vision was. Chair Heavilin asked the Board if they wished to direct staff to discuss revisioning with the City. A comment was made about the philosophy and vision of the City's Development Department and the importance of hearing what the residents had to say. Motion Mr. Barretta moved to have the CRA initiate a new visioning plan. Mr. Myott seconded the motion that passed 6-0. IX. New Business A. Consideration of a Purchase Agreement for HOB Properties at 603 & 607 Seacrest Boulevard Ms. Brooks asserted the former CRA Director had agreed to purchase the subject properties by buying down the difference between the value of residential and the value of commercial property, a figure shown to be $210K. The CRA initiated an appraisal of the property (two lots each with a house), which showed a value as commercial of $380K and $170K as residential. Staff supported the option to purchase the property outright rather than buy it down. The buy down option would not result in significant change to the neighborhood since it was likely the blighted houses would remain on Sea crest as rentals. The homes were not worth rehabilitating due to their poor condition and small size. Mr. Parker, the owner, was asking $42SK for the property. Purchasing the property would allow the CRA to facilitate the building of two new affordable homes on the site. However, staff did not support purchasing the property at above appraised value unless the owner could support the higher price with a qualified appraisal. Ms. Brooks said the down zoning of this site was consistent with the Heart of Boynton Redevelopment Plan from C-2 to Single Family Residential. Michael Parker, 502 Sunshine Drive, Delray Beach, declared he bought the property to build a commercial building but when they started getting engineering bids, the City placed a zoning moratorium on the property. They wanted to sell and would agree to a selling price of $380K. They did not want to be exposed to having to spend any more money out of their pocket in case there was damage during the upcoming hurricane season. Motion Mr. Barretta moved to approve the purchase of the properties at 603 and 607 Seacrest Boulevard for $380K. Mr. Myott seconded the motion. Ms. Brooks asked that the properties be sold without tenants, if they did not have leases. Mr. Parker advised he would give the tenants appropriate notice. He owned about an acre across 21 21 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 the street from these properties and planned to develop them for housing and expressed concern about what the tenants would do. There was a family of seven living in one of the houses now. Most people could not afford the $1,500 and $1,600 rents in the area. Ms. Horenburger commented they would be paying $190K each for two lots with houses on them that would have to come down for new single-family houses. Mr. Barretta reminded the Board they had talked about this previously and Mr. Hutchinson advised he had been meeting with the developer who wanted to build commercial and it was properly zoned as commercial. Quintus Greene, Development Director, declared the Heart of Boynton Plan called for single family in that area. He questioned why the Board was talking about commercial there. The Board responded there was commercial zoning in place and the City had never rezoned the property in concert with the Heart of Boynton Plan. The answer was to declare a zoning moratorium, stop commercial development, and rewrite the zoning. He felt the Board had to allow Mr. Parker to build a commercial development, which he had a right to do, or pay him the fair value for a commercial piece of property. What would be done with the property later was a separate issue. Mr. Parker declared his understanding the $380K would be net and the CRA would take care of closing costs and demolishing the existing properties. Mr. Barretta amended his motion to state a "net amount of $380K." Mr. Myott agreed to the change. The motion passed 5-1, Ms. Horenburger dissenting. Chair Heavilin noted they had passed the 9:30 p.m. time certain adjournment and asked the Board what it wished to do. Motion Ms. Horenburger moved to extend the adjournment to 10:00 p.m. at the latest. Mr. Barretta seconded the motion that passed 6-0. B. Consideration of a Redevelopment Proposal from the Heart of Boynton Self- Assembly Group for Phase I of the HOB Plan (heard earlier) C. Consideration of a CRA Homeownership Assistance Program Vivian Brooks, CRA Planning Director, declared the CRA Board recently approved the issuance of a second bond, in part to assist with the development of affordable housing initiatives. One of the proposed projects was a "buy down" voucher to be used to help low and moderate income families purchase homes. Staff drafted the Homebuyer Assistance Program that would work in tandem with the City's SHIP program, a down payment assistance program. The CRA funds would provide gap funding between the mortgage amount and the State Housing Initiative Partnership (SHIP) funds. By combining the two funding sources, the CRA and City would help to close the gap between what a family could afford and the price of housing. The gap between wages and the cost of housing was well known. 22 22 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 The program was designed to assist people of low to moderate income who were short of money, $5K up to $50K, to buy a home. In looking at some examples today, staff found three people working for the City who were trying to build houses on City land in the Heart of Boynton that could not afford to do it, even though the land was free. This program would allow those people to build affordable houses. The program document had been reviewed and approved by legal counsel. Ms. Horenburger said a feasibility infrastructure study was being done for the HOB a~ea and nothing should be built there until that study was completed and reviewed. Ms. Brooks stated this was single- family infill on the west side of Sea crest Boulevard, in the single-family area. Mr. Barretta asked the CRA Finance Director, Robert Reardon, if he had assisted in the creation of the document. Mr. Reardon responded he had not, but the money was available in the bond proceeds to cover it. Mr. Barretta expressed a desire for someone with financial expertise to review the program. Mr. Myott asked if this issue would be brought up for discussion on February 22. Ms. Brooks responded it was a project discussed as a part of Bond #2. She was simply implementing the program. The concept was not new. Mr. Myott asked if they could mention police, teachers, and firefighters and other classifications. Ms. Brooks said it was open to anyone of low to moderate income purchasing a home within the CRA area. Mr. Myott asked if there were limitations on the sale of homes. Ms. Brooks indicated this was set by SHIP guidelines. If a homeowner sold to a non-income qualified buyer, they would have to pay back the money plus interest on the money from the time they received it. Also, they would have to pay the City back for the land that had been given to them. There was some concern about how this program would be monitored for compliance. Ms. Brooks responded if the homeowner leased their home out and bought another one and moved into it, they could only Homestead one property. It could be monitored through the Internet periodically. Chair Heavilin thought that a lot of people who could not afford housing now would still not be able to afford it, even with this program. The program would probably benefit a handful of people at best. Chair Heavilin added it might have been helpful for the Board to look at the SHIP guidelines, since much of this program was predicated on it. She confirmed with Ms. Brooks that City and CRA funding would not exceed 40% of the purchase price and the maximum amount of funding would be $50K. Mr. DeMarco felt parcels of land in the HOB should not be sold until the big picture there was assessed. Once the CRA sold or leased any parcel, they might find they had tied up a section that could disrupt something else they might want to do in the area. David Zimet, Boynton Beach Faith-Based Community Development Corporation, 2191 North Seacrest, Boynton Beach, commended the introduction of this additional layer of financing. The three persons mentioned were clients of his organization. Mr. Zimet's organization was working with 12 people in all who had been income-certified, but could not find a home they could afford. They were still faced with a first mortgage and the gap between what they could afford and the amount of mortgage they could support. They were hard 23 23 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 working people with no credit issues, assets to the community, who needed this kind of help. He did not believe the situation was only for City or CRA-owned property, but it was for private property also. Two weeks ago, a standard Cherry Hills lot sold for over $70K. That was in an area where a year ago people refused to build on lots that were offered to them. People could no longer live where they used to be able to live because they could not afford to. He hoped the CRA assistance package would go forward. The Board was not opposed to the program in concept, but wanted further details. Ms. Bright will bring it back to the next meeting with the necessary backup. . Mr. Horenburger commented Boynton Beach had plenty of affordable housing, but no decent low-income housing. x. Comments by Board Attorney Attorney Spillias spoke of the Direct Incentive Agreement with Boynton Associates, Ltd. for the Ocean Breeze project that was approved by the Board subject to some language revisions being made between the developer and the attorneys. It came back to the Board last month and there were still open issues, one dealing with the definition of "developer" and the other with the procedures for assignment of the contract. They had worked those issues out and the contract was ready to be executed. Since the Board's original motion was for approval and subject only to the language being worked out between the attorneys, Attorney Spillias did not believe it had to come back to the Board. The Board had already basically approved it except for the language on the assignment issue. The attorney received a formal request from Mr. Finkelstein for this Board to approve the assignment of the contract to an affiliate, Tradewinds Development, LLC, which had been represented to him as being an affiliate under the definition of the contract. The Board could: 1) approve this in concept and have him bring back the actual assignment document for review and formal approval or, 2) approve it today, subject to the approval of the Executive Director and Attorney of the language and confirmation of the affiliation between Boynton Associates and Tradewinds Development. Motion Mr. Barretta moved the Board approve option two as outlined by the Attorney. Mr. Norem seconded the motion. Attorney Spillias stated that would be presupposed by both Boynton Associates and the CRA signing the original contract. Mr. Myott asked if there were any value in having Mr. Finkelstein comment on that. Mr. Spillias indicated he had already done the corporate records check with the Department of State to confirm the relationship between the two corporations. Mr. Myott asked Mr. Finkelstein if he would work within that structure and he responded affirmatively. Larry Finkelstein came to the podium, saying Attorney Dukes' letter to him asked for a formal letter, which he provided. Obviously there would be a formal assignment agreement and he did not have any problem with review of their internal assignment agreement. 24 24 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Attorney Spillias stated they had to make sure the assignment agreement conformed to the assignment requirement as drafted, and Mr. Finkelstein concurred. The motion passed unanimously. XII. Comments by Staff Ms. Bright asked for direction on the proposal from Treasure Coast Regional Planning Co'uncil to perform the Heart of Boynton economic feasibility study for a fee of $50K. They estimated the project would require a minimum of eight weeks for analysis. Since the information was very time sensitive to the CRA, Ms. Bright asked for Board approval to accept the contract or direct her to find another bidder. The consensus on the Board was to proceed with the Treasure Coast contract to get the information as quickly as possible. Ms. Bright indicated the Board had assigned the scope of services on the Request for Proposal for the Old High School to Corey O'Gorman, who would be sending her a timeline for the work. Three charrettes would be started and the project was to be tied to a funding source. The Board will be given monthly updates. Mr. O'Gorman would be attending the March Board meeting. By mutual agreement, the opportunity for Eric Johnson to come to the CRA as a Planner was rescinded, so Ms. Brooks and Ms. Bright will be working to bring someone else on board in that capacity. They had now hired an Administrative Assistant who would start at the end of February. Ms. Rosalind Murray would also start at the end of the month as Economic Development Director. Chair Heavilin noted the Board agreed at the last meeting to have a governance workshop. She proposed a two-day retreat, with one day being a governance workshop and the other a discussion of strategic planning, visioning, and priority setting. May was the month chosen and the details would follow. The Board discussed the pros and cons of having the meeting in town or out of town. Mr. Reardon recalled the auditor's forensic findings covering the last retreat and noted Florida Statutes recommended retreats be done locally. The CRA received some criticism for having the last retreat out of Palm Beach County. The auditors recommended Florida Atlantic University, Florida International University or other local government retreat possibilities. He urged the Board to consider this before going out of the County. Ms. Horenburger noted the idea was to go far enough out of town that the participants were not able to run home to their businesses. Popular locations in this area for retreats were the Indian River Plantation or PGA National. Mr. Barretta suggested having a retreat in a City like Hollywood, which had something going on with its downtown. Chair Heavilin responded that was part of the reason they went to Naples for the retreat the previous year. 25 25 Meeting Minutes Community Redevelopment Agency Boynton Beach, Florida February 14, 2006 Mr. Reardon offered to discuss this with the auditor to refine her recommendation and bring the response to the Board in staff's monthly report. XIII. Project Review . Harbor Cay Developer: AmerCan Development Corporation Sid Yon Rosepunt, Principal RKB Architects & Planners This item had to be cancelled since ITS support was not available. XIV. Future Workshops . CRA/City Housing Workshop - February 22, 2006 City Hall, City Commission Chambers . Savage Creatures Workshop - March 23, 2006 City Hall, City Commission Chambers XV. Adjournment Motion Mr. Barretta moved to adjourn the meeting at 10:02 p.m., seconded by Mr. Norem and passed 6-0. Respectfully submitted, :;.0d11 ~t f Susan Collins Recording Secretary (021506) 26 26 IV. CONSENT AGENDA - B. BUDGET AMENDMENT BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetin!! Dates Turned into CRA Office Meetin!! Dates CRA Office 0 January 10,2006 December 27,2005 (Noon.) 0 Ju]y II, 2006 June 27, 2006 (Noon) February ]4, 2006 January 31, 2006 (Noon) 0 August 8, 2006 Ju]y 25, 2006 (Noon) . March 14,2006 February 28,2006 (Noon) 0 September 12, 2006 August 29, 2006 (Noon) 0 Apri] I], 2006 March 28, 2006 (Noon) 0 October 10, 2006 September 26, 2006(Noon) 0 May 9, 2006 Apri] 25, 2006 (Noon) []I November ]4, 2006 October 3],2006 (Noon) 0 June ]3,2006 May 25, 2006 (Noon) Bm December ]2,2006 November 28,2006 (Noon) NATURE OF AGENDA ITEM o Consent Agenda o Director's Report o Old Business o New Business . Legal o Future Agenda Items o Other Item DATE: February 25, 2006 SUBJECT SUMMARY PARAGRAPH: Requiring the Finance Department to pay for the closing on the Parker properties from the funds earmarked for the old high school renovation. As funds for the purchase of these two commercial properties were not encompassed in Bond #1 (Project Fund) as a project component, and as the City requested that we purchase said properties, we must pay for them from the General Fund. Additionally, the old high school is now being considered for private development and the current appropriation will not be used in this fiscal year. The Board may choose to re-establish a budget line for the old high school in FY 2006-2007 if it chooses to do so. RECOMMENDATION: Allow the Finance Department to execute the payment of the Parker properties from the General Fund account 58200.233 FISCAL IMPACT/FUNDING SOURCE: Impact is nil, as funds exist in the above referenced account to pay for the purchase and closing costs. Source of funds will be FY 2005-2006 General Fund. ALTERNATIVES: None CRA STAFF: Robert Reardon, Interim Assistant Directo T:\AGENDAS, CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Agenda Item Request Forms\Request to pay for Parker Properties.doc 27 IV. CONSENT AGENDA - C. FACADE GRANT APPLICATION SEAGATE OF GULFSTREAM CONDOMINIUMS $ 15,000 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materiais Must be Turned into Meetinl! Dates Turned into CRA Office Meetinl! Dates CRA Office 0 January 10, 2006 December 27,2005 (Noon.) 0 July II, 2006 June 27,2006 (Noon) 0 February 14,2006 January 31, 2006 (Noon) 0 August 8, 2006 July 25, 2006 (Noon) . March 14,2006 February 28, 2006 (Noon) 0 September 12,2006 August 29,2006 (Noon) 0 April II, 2006 March 28, 2006 (Noon) 0 October 10, 2006 September 26, 2006(Noon) 0 May 9, 2006 April 25, 2006 (Noon) 0 November 14, 2006 October 31, 2006 (Noon) 0 June 13,2006 May 25, 2006 (Noon) 0 December 12, 2006 November 28, 2006 (Noon) NATURE OF AGENDA ITEM . Consent Agenda o Director's Report o Old Business o New Business o Legal o Future Agenda Items o Other Item DATE: March 7, 2006 SUBJECT SUMMARY PARAGRAPH: The Seagate of Gulfstream Condominium Association applied for a Fa98de Improvement Grant in the amount of $15,000, to paint ten buildings located at 2020 South Federal Highway. Multiple residents indicated a need existed to pressure clean and paint each building, which would improve aesthetics, curb appeal and character of these ten buildings in The City of Boynton Beach. RECOMMENDATION: The Boynton Beach Community Redevelopment Agency recommends approval of the Seagate of Gulfstream Condominium Association's Fayade Grant in the amount of $15,000. FISCAL IMPACT/FUNDING SOURCE: The Seagate of Gulfstream Condominium Association is leveraging $137,500 of its current operating budget, with $15,000 in funds emanating from Boynton Beach CRA upon approval of this Fa98de Grant application. The scope of work will cost $152,500; whereby, our leverage position is 11 % concerning Fa98de Grant funds. ALTERNATIVES: CRASTAFF: fGulfstream C ndominium Association Fa9ade Grant '-.-. C:\Vince Johnson\Seagate Condominiums Agenda Item.doc P28 \1'- 200212003 FACADE IMPROVEMENTS GRANT PROGRAM APPLICATION FORM #/ 0-<:, / ~c/ 3/ c?~ d~ ~ Boynton Beach Community Redevelopment Agency Maximum Grant Amount is $15,000.00 (Please Print Or Type Only - Use Additional Sheets If Necessary) APPLICANT INFORMATION ~~~:r~fProperty ~eA9;t7E- of 6~/+"5T~#'1 epck~v#ts. ~~~:;sofProperty c20,#J :5. ~ lI'Jiw/H1I / City/State: ';) ..I #. .-- / TL Zip 3 :;r . . - ,.....- L> f9 \C ~..,) /J.b#Ch , / '-- Code: :.J -t~J I ' I Phone # Day: 561 737--'1-66) Evening: Legal owners and legal description of the property to be improved (please attach copy of warranty deed and lease, if applicable): ])es4!2y1-;C',J -f- "'S/~ p7ufpl /1-7T*HE..LJ If Different from Property Owner Name of Business: Address of Business: City/State: Zip Code: Phone # Day: Type of Business: Evening: Years of o peration:___iiZ_~_____________________________________--------------- Number of Employees: 6) Annual Payroll: 0 o Number of Employees residing in Boynton Beach: evelopment Agency Application lZ/11 S f ft (j ft 1 f Of (j ULfSlRfft/'\ conDOMiniUM 2020 S6t1tk. Federal Highway Boynton Beach, FL 33435 Off: 561.737.4661 Fax: 561.737.5057 E-mail: seagate@adelphia.net f='AEE"$t4tCe '02 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 (eRA). 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: /': Pai~ Ci: on~ · Signage (located on the building or the property). · Awnings/canopies. · Doors/windows. · Landscaping around the building. · lITigation. · Parking lot re-paving, re-sealing, re-striping. · Exterior Lighting. · Patio or decks connected to the building. · Exterior wa" repairs (e.g. stuoco, brick. or wood repairs and replacement). · ADA improvements. 4. All work must be in compliance with applicable Boynton Beam Building Codes and all contractors must be licensed in Boynton BeachlPalm Beach County. If the Applicant(s), installs enhanced landscaping and or signage it must be in aocordance with City Ordinance No. 98-43. 5. Maximum Grant amounts: The CRA will provide, on a reimbursement basis, a dollar for dollar matming grant for eligible fa<;ade improvements up to a total of fifteen thousand dollars ($15,000.00) of CRA funds. 6. The Fa<;ade Grant program will honor expenditures completed up to 90 days prior to application, improvements underway al1Q propos~p improvements. 7. The Fa~de Grant program may only be used one time In imY mre~ year period for anyone property. Properties may ~e..ap,p'y fqr .~~tlp~" ~liints Boynton Beach Community Redev,lopment Agenqr Facade Grant Progr'fTl Page 2 of 6 Revised 12/10/02 P3D any time after three (S) y,e,ars frorp pre)/~ou~ gr. ant approval. PrOJect phasing of ~p to two years can be r<<1',Jestad. Pr.Ql;)erty owners may re~eiva grants far multiple property locations. Ap~ts shall be limited to one grant 'per CRA budget year (October 1 st to Septem,per 30th). Boynton Beach Community Redevelopment Agency Fql,fade Grant Program Page 3 01 () ~evised 12/10/02 P31 APPLICATION PROCESS 1. An applicant seeking a project grant may secure an application from the Boynton Beach Community Redevelopment Agency (CRA) located at 639 E. Ocean Ave., Suite 107, 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 Attomey.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 Uen against the property, the grant win not be awarded until the complete satisfaction of the lien. 6. Applicant shall obtain, read and understand all aspects of the F~de 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. Boynton Beach Community Redevelopment Agency Fayade Grant Program Page 4 of 6 Revised 12/10/02 P32 PROJECT INFORMATION Describe improvements to be done to the property. Attam the following items: . Project work write-up(s) describing in detail the scope of the project, I.-! If · Plans or sketches if applicable, ~ · Site plan and .p;/aFIt liit for lilR9seape pl'6joets; · 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. Ap plicable documents must be attached for the Ap plication to be processed. By signing this Application, I ad<nowledge that I have received and read a copy of the Program Agreement, and I understand and agree to comply with its content. ~d~ ~e"_~~ 3~~.b Witness (D~ _~ ~ht~. JJ/6b Property ~r (Date) (Property owner's signature must be notarized) Witness J~~ Tenant/Business Owner (Date) Q) FRANCINE GOLDSTEIN MY COMMISSION # 00 175000 EXPIRES: December 30, 2006 1-8lJO.3.NOTARV Fl Notary Service & Bonding, Inc C R A Director (Date) Boynton Beach Community Redevelopment Agency Fa~ade Grant Program Page 5 of 6 Revised 12/1 0/02 P33 STATE OF FLORIDA, COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgements, personally appeared ~U) iN J tJ.ePJi?<:;: d--J. who is personally known to me or produced +::~ Kc> tVt'd \ ~ ..,...) f?G() ~~JCation, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and th~t 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 / sf- day of ,200 (P. My Commission Expires: Jd.- - =sV-00 '" '0111 'flu!Puos 'B 0\'l!Al8S ARloN 1:1 AI:l\fJ.ON-€-OOe-I i 900~ '0& J9QW8Oa(] :S31:l1dX3 0 ( OOOSll 00 # NOISSIWWOO AVV 001 ~ NI31S0108 3N'O~:l .~ Boynton Beach Community Redevelopment Agency Facade Grant Program Page 6 of 6 Revised 12/1 0/02 P34 Page: 2 I 3863 Gulfstream Cohdo Consolidated .Ba Lan ce Sheet 12 31 2005 PRIME MANAGEMENT GROUP INC 6300 PARK OF COMMERCE BLVD BOCA RATON, FL 33487 20002080 20002301 20002380 20002500 20002700 20002710 20002020 30013000 386101 30013000 386102 30013000 386103 30013000 386104 30013000 386106 30013000 386107 '3000 386108 ~vJI3000 386109 30013000 386110 30013000 386111 30013000 386112 30013000 386114 30013000 386115 30013000 386116 30013000 386117 30513000 386101 30513000 386102 30513000 386103 30513000 386106 30513000 386108 30513000 386109 3''''''3000 386201 .000 386202 --------------- --------------- CURRENT LIABILITIES Accrued Expenses Processing Fee Insurance PayabLe Prepaid Maintenance Fee SpeciaL Assessment Contribution SpeciaL Assessment Expense Accounts Payable 3,531.93 985.00 100,164.40 11,694.55 160,124.00 (93,820.10) 18,113.44 TOTAL CURRENT LIABILITIES 200,793.22 RESERVE CONTRIBUTION PART 1 Reserves Phase 1 Clubhouse A/C Reserves Phase 1 CLubhouse Furnishing Reserves Phase 1 Concrete Res/Mat Reserves Phase 1 Elevators Reserves Phase 1 Laundry Equipment Reserves Phase 1 Painting Reserves Phase 1 Pavement Rest. Reserves Phase 1 Pool Equipment Reserves Phase 1 Roof Unit Reserves Phase 1 SeaLcoating Parking Reserves Phase 1 SeawaLL And Ud Gr Eq Reserves Phase I painting Clubhouse Reserves Phase 1 Painting Pool House Reserves Phase I Roof PooL Reserves Phase 1 Roof CLubhouse 4,498.91 5,686.14 33,255.68 15,605.38 8,882.34 85,466.07 24,115.58 9,433.33 155,282.09 8,120.03 18,089.66 267.25 69.55 113.17 997.32 TOTAL RESERVE CONTRIBUTION PART 1 369,882.50 RESERVE EXPENDITURES PART 1 ReservesPnase 1 Roof ReservesPhase 1 PooL ReservesPhase 1 Elevator ReservesPhase 1 Concrete Res/Mat ReservesPhase 1 Clubhouse A/C ReservesPhase 1 seawall & Ud Gr Eq (27,925.00) (562.00) (3,698.80) (20,575.00) (179.00> (2,485.00) TOTAL RESERVE EXPEDITURES PART 1 (55,424.80) NET RESERVES PART 1 314,457.70 RESERVE CONTRIBUTION PART 2 Reserves Phase 11 Clubhouse A/C Reserves Phase 11 CLubhouse Furnishing 4,497.59 5 ,715 . 89 P35 01/19/2006 10:08 AM . 3~63G~~fstr~am..(:6;'~(jC6;'solidai:ed. ~.lal1ce sh~t Page: 3 PRIME MANAGEMENT GROUP INC 6300 PARK OF COMMERCE BLVD BOCA RATON, FL 33487 30023000 386203 Reserves Phase II Concrete Res/Mat 37,973.75 30023000 386204 Reserves Phase II Elevator 7,619.09 30023000 386206 Reserves Phase II Laundry Equipment 9,889.07 30023000 386207 Reserves Phase II Painting 86,136.06 30023000 386208 Reserves Phase II Pavement Rest. 24,291.64 30023000 386209 Reserves Phase II Pool Equipment 9,510.86 30023000 386210 Reserves Phase II Roof Roof 150,091.92 30023000 386211 Reserves Phase II Sealcoating Parking 8,303.13 30023000 386212 Reserves Phase II Seawall And Gr Eq 18,221.07 30023000 386214 Reserves Phase II Painting CLubhouse 267.86 30023000 386215 Reserves Phase II Painting Pool House 70.49 30023000 386216 Reserves Phase II Roof Pool 114.55 30023000 386217 Reserves Phase II Roof Clubhouse 1,002.42 ------------- TOTAL RESERVE CONTRIBUTION PART 2 363,705.39 RESERVE EXPENDITURES PART 2 30523000 386201 Reserves Phase II Roof (109,935.00) 30523000 386202 Reserves Phase II Poo l (563.00) '~OOO 386203 Reserves Phase II Elevator (3,698.80) )00 386206 Reserves Phase II Concrete Res/Mat (18,575.00) 30523000 386207 Reserves Phase II CLubhouse A/C (178.00) 30523000 386208 Reserves Phase II SeawaLL & Ud Gr Eq (2,485.00) -------------- TOTAL RESERVE EXPENDITURES PART 2 (135,434.80) NET RESERVES PART 2 228,270.59 ------------ TOTAL RESERVES 542,728.29 -------------- MEMBERS EQUITY 31003105 Prior Year Adj 22,510.00 31003200 Fund Balance 36,843.90 Part 1 Surplus/Deficit (4,887.15) Part 2 Surplus/Deficit (34,424.31) ----------- TOTAL MEMBERS EQUITY 20,042.44 TOTAL RESERVES/LIABILITIES & EQUITY 763,563.95 ------------- ------------ P3S (f) rll :t> G) :t> -i rll o " G) -uC :t>r ::0" -i~ 0::0 zrll rll:t> $; () o z o o ~ z c ~ ~ ta":-. .... ~~i~ "Cl",:b ~::!lq;: ...~_.... ~ ~t"I . ~~~ ~~::! ~~~ '" ~:"I .. l~i i:'fII$)~ ~ s2~ ~~ ~~ ~ ~ .,..... :!it I~~ '" '"''''~ .. ~ ~ ~ ".. ;;: ~~ ~ aC"t~ ~~ ~ i~~ ~ ... ' ... .. =~~ is ~ !:;~~ ~ .. ~~~ ;: ~ ~:! ~ ~ ~ "( " ~~iIi ~ ~ ... ~ ' ... ---,' ..'.....n. ::::W) ( IIII'. ~ ~ Sl.or !I~. 1ft'" z '" ~~~O~_,5 ~ Ii - (lI.S.~/) €:-_ ... ~-----~UL-lU.Q:. rP.O'B. INGIlESS 8 Ii r: - f EGREss EASEMENT g !i~ I _~-~;:;r;-~T-fla:..I,,.e - ~:: B -~l ,~..' ~---~ I )= "l I' I ~ ~ I ~~. +~\I I I ~ 11 ~ I. In ~~ ~ I: I ~ I~ . I ~ I . I ~ I I Ii I ,. ~~ ~ r ~I I ~ ~ !I I ~ . w "' ..;:,.. I - :1 ft~ toO' '" -...- UJ ~~ ~ ~ ";1i"1 -< -, .ii"" z ..0 :; ~~ .. -...- =:~ ~. 4iiO'; .... A -'lL ~ "".1 -;;)j ~ -;;j'i ~ \, ~I "I ~ I I I ~ '" ~ Cl '" Cl ~ ~ o " lAND s 7.10"~~""'..~~~:::~:17' WCST R/w LIHE_ " INTRACOASTAL WA TE'IrWA Y ~.=~~~~~~~~t~~~~~~~~~~~~~~~~~~a~.~ I~~ aaa_~a~~a~~~~~~~~R~R~~~~~"~~~~~;~~i"'~~ ~~~~,~~~~ ~~~~~~~~~~~,~~~~~~ Q....~~ ~~~ ~~~~~~~~~i~~;l~~~~~~q$~~~~~~~a~~~~~~~~ ""... -. -. ." ... :'!.., .~ ~ "": ... , \0 1 ~ .... Ilt . fit :1 ~ i'" ... 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"( ~ ~.... ~'z ~~il~I~I~i~~~~~~~~~~~~~;a~~~~ij~~~ i~ ...::~~ ~~~~~~~~~~:.:flt.:~;~~~~~~~~~~ ~a ~'l'l~~~~~~~~~"'a~a~~a~~~'~"''i;~~~~~~:~ ~.. ~~~~~...~~~. ~~- =Q~a~~~~~a ~a~"~I~~ i~ s~~~~~~~~~~~~~~~~~~~;i~~~~~~~~~!~~ ~~ . ~ ".-'~~_.~~~"t~q~~~i~~~ ~~ l'l1 '"'l "I .., a ~ t\ r-r-:v ,."'0 ~~jD ~a '" ,. -::z..- $ y ~ 0 y ~ ~ ~ ,.. ~ - s ~ ~ ~ fj ~ APPENDI consulting engin..,.. . land lurveyol"$ d..rfield beach' delray beach, florida P37 /#,e t I L.~JDS SUBMITTED TO CONDOMINIUM A parcel of land situate, lying and being in Sections 33 and 34, Township 45 South, Range 43 East, Palm Beach County, Florida, being more particularly described as follows: Commencing at the Northeast corner of said Section 33; thence SS9043'l5"W 368.39 feet along the North line of said Section 33 to a point of intersection with the centerline of State Road No. 5 (U.S. No.1); thence S 1002'15"W 225.95 feet along said centerline to a point of curvature; thence southerly along the arc of a curve to the right having a radius of 2864.93 feet, a central angle of 3055'10" for an arc distance of 195.97 feet to a point of tangency; thence S 4057'25""1 882.68 feet; thence N89035'25''E 50.22 feet to a point on the East right-of-way line of said State. Road No.5; thence continue NB903S'25"E 365.00 feet to the Point of Beginning; thence continue NB9035'25"E 406.39 feet to a point of intersection with the West right-of-way line of the Intracoastal l'laterway; thence S 7010 '19"W 87.74 feet along said West right-of-~lay line; thence S89032'32"W 29.1B feet; thence S 0027'2B"E 41.50 feet; thence SB9032'32IJW 226.50 feet; thence S 0027'2B"E 72.00 feet; thence N89032'32"E 170.00 feet; thence S 0027'28"E 55.50 feet; thence S60027'28IJW 31. 66 feet; thence N60027 '28"W 17.00 feet; thence SB9032'32''W 47.00 feet; thence S 0027'2SnE 120.00 feet; thence N89032'32''E 40.S6 feet; thence S60027'2S"E lS.64 feet; thence S 0027'2S"E 56.50 feet; thence SS9032'32"W 14~.50 feet; thence S 0027'2S"E 72.00 feet: thence NS9032'32"E 176.00 feet: thence S 0027'2S"E 43.26 feet: thence SS2049'41"E 26.13 feet to a point of intersection with said West right-of-way line of the Intracoastal Wat.erway; thence 57010' 19 "w 82.50 feet along said t-1est right-of-way line; thence SB9032'32"W 366.00 feet: thence N 0027'2B"W 34.00 feet: thence NB9032'32"E 93.02 feet; thence N 0027'2S"W 95.25 feet; thence SBg032'32"W 137.00 feet; thence N0027'28ul-1 37.00 feet; thence S89032'32"li 192.00 feet: thence N 0027'2B"W 159.00 feet; thence NS9032'32"E 260.00 feet; thence N 0027'2B"W 34.50 feet: thence N89032'32"E 74.00 feet; thence N 0027'28"W .93.19 feet; thence S89032'32"W 138.00 feet; thence N 0027'28"~'l 65.00 feet; thence N89032'32"E 1.94..0.0 feet: thence N 0027'28"W 9.8.00 feet; thence S89032'32"W 107:39 feet; thence N 0027'28"W 34.00 feet to the Point of Beginning. Together with and subject to a non-exclusive easement for ingress and egress over the following described real property. ACCESS EASEMENT A parcel or land situate, lying and being in Sections 33 and 34, Township 45 South, Range 43 East:, Palm Beach Coun1:y, Florida, being JPOre particularly described as follo\'IS: Commencing at: the Northeast corner of said Section 33; thence S89043'15''W along' the North line of said Section 33, a distance of 368.39 feet to a point of intersection with the centerline of State Road No.5 (U.S. No.1); thence S l002'15"W along said centerline a distance of 225.95 feet to a point of curvature; thence southerly along the arc of a curve to the right having a radius of 2864.93 ~eet, .a central angle of 30S5' 10", for an arc distance of 195.97 feet to a point of tangency; thence S 4oS7'25"W a distance of 882.68 feet; thence N89035'25''E a distance of 50.22 feet to a point on 'the East right-of-way line of said State Road No.5; thence run S 4057'25''W 311.39 feet along said East: right-of-way line to the Point: of Beginning; thence run N89032'32"E 7B.58 feet to a point; thence run N44032'32''E 44.55 feet to a point; thence.run N89032'32''E 504.25 feet to a point: thence run S 0027"2S"E 93.00 feet to a point: thence run S8g032'32uW 504.25 feet to a point: thence N4So27'28"W 44.55 feet to a point: thence run S8g032'32"W S1.42 feet to a point of intersection with said East right-of-way line of State Road No.5: thence run N 4oS7'2S"E 30.13 feet along said East right-of-way line to the Point of Beginning, less the North 45 feet of the South 69 feet of the West 470.31 feet of the East 494.31 feet. P3S 1loQ l\1 (J) rtJ l> G) ~ rrl o II G) 'lJC l>~ ::O'(J) ...,..., ...,::0 ~.~ o~ () o z CJ o s: z c ~ 1> "'C ;:Il Z o X OJ , I\) r.n -I ITI "'C r 1> Z ~ ITI r ITI < ~ o z r.n """".:""-~~-~:'!,;.":'.~"',~-'7';'7~~-'"::?:':~":"i"'r':,~.::t;~P"'~~~;~~.~~~~ STATE Ra !4D NO. 5 (U.s. NO. I) .~~ ~~; ~~. ~-i#t !!!fliii ~!!i!~#1ib- ~ ......~hii i'tff.1!b o'h.._ ~~t4-~ -..... J ......~~... s~ -~ !i~e li(' =:= [!U~ ["'-" m:'"' --.. -t: I:t: fiii fi~F1 .- r.n lE= flL\:\:. m:t: -I ~rr1 -:- !G) ITI .~ ~FJ .0 "'C =E ii a~ r if mrr:.. if 1> sf .:Il: ~:r z r.'.' j! i' ~ ....... =:lll . !i~Jii . l__ ~i ~-%Q""2~ l! C'l o '" ~iIUUU i~ i~ _<n ;_l~HUH.:ili ~'" 26 ..0 ~UH;lH ~= - Hl r- pllppp~;:i "!.' t:. -I:l... a ~... ~'ft I'll I:;; < .. t... t..... ~ j ~i\~H~lhli~ INTRACOASTAL WATERWAY ~J I I --J ~ ~ ~p Arth V. St k & A . te I I co.......ing _lIMen - ...nd surveyors ur. roc ssocla 5 nc. d_field beoch - d.lr..y beoch, florid.. P39 ,.., -<-""~"'.'- -''''', '<'-'''''''''''''''-'''''''''''' "T-''"''F",._-..:"..JJ~!~.Jlml. LANDS SUBMITTED TO CONDOMINIUM A parcel of land situate, lying and being in Sections 33 and 34, , Township 45 South, Range 43 East, Palm Beach County, Florida, being more particularly described as follows: Commencing at the Northeast corner of said Section 33; thence S 89043'15"W 368.39 feet along the'North line of said Section 33 to a point of intersection with the centerline of State Road No.5 (U.S. Highway No.1); thence S 1002'15"W 225,.95 feet along said center1 ine to a point of curvatur.e; thence Southerly along the arc of a curve to the right having a radius of 2864.93 f~et. a central angle of 3955'10" fOF an arc distance of 195.97 feet t~ a point of tan~ency; thence S 4057'25"W 882.68 feet; thence N 89035'25"E 50.22 feet to a point on the East right-of-way line of said State Road No.5 (U.S. No. I), also being the Point of Beg6nning; ~hence continue N 89035'25"E 365.00 feet to a point; thence SO 27'28"E 34.00 feet. to a point; thence N 89032'32"E 107.39 feet ~o a point; thence S 0027'28"E 98.00 feet to a point; thence S '89032!32"W 194.00 feet t~ a point; thence S 0027'28"E 65.00 feet to a point;"t~ence N 89032'32"E' 138.00 feet to a eoint; thence S 0027'28"E 93.19 feet to a point; . thence S. 89032'32 W 74.00 feet to a point; thence S 0027'28NE 34.50 feet to a point; thence S 89032132"W 260.00 feet to a point; thence S 0027'28"E 159.00 feet to a point; thence N 89032'32"E 192.00 feet to a point; then~e S 0027'28"E 37.00 feet to a point; thence N 890 32'32.E137.00 feet to a point; thence S 0027'28"E .95.25 feet to a point; thence S 89032'32"W 93.02 feet to a point; thence S 0027'28"E 34.00 feet to a"point; thence S 89032'32"W 380.00 feet to a point of' intersection with said East right-of-way line of said State Ro.d No.5 (U.S. No.1); thence N 4057'25"E 653.13 feet along said East right-of-way line to the Point of Beginning. Together with and subject to a non-e~clusive easement for ingress and egress over the following described real property. . ACCESS EASEMENT A parcel of land situate, lying and being in Sections 33 and 34, Township 45 South, Range 43 East. Palm Beach County, Florida, being more particularly described as follows: Commencing at the Northeast corner of said Section 33; thence S 89043'15"W alon~ the North line of said Section 33. a dtstance of 368.39 feet to a point of intersection with the centerline of State Road No.5 (U.S. No.1); thence S 1002'15"W along said centerline a distance of 225.95 feet to a point of curvature; thence Southerly along the arc of a curve to the right having a radius of 2864.93 feet, a central angle of 3055'10", for an arc distance of 195.97 feet to a point of tangency; thence S 4057'25"W a distance of 882.68 feet; thence N 89035'25"E a distance of 50.22 feet to a pOint on the East right-of-way line of said State Road No.5; thence run S 4057'25"W 311.39 feet along said East right-of-way line to the Point of Beginning; thence run N 89032'32"E 78.58 feet to a , point; thence run N 44032'32"E 44.55 feet to a point; thence run N 89032'32"E 504.25 feet to a point; thence run S 0027'28~E 93.00 feet to a point; thence run S 89032'32"W 504.25 feet to a point; thence N 45027'28"W 44.55 feet to a point; thence run S 89032'32"W 81.42 feet to a point of intersection with said East right-of-way line of State Road No.5; thence run N 4057125"E 30.13 feet along said East right-of-way line to the Point of Beginn1ng; less the North 45 feet of the South 69 feet of the West 470.31 feet of the East 494.31 feet. i~2254 PACE 744 ",' .. ". . P40 'oQ ~ U'J r'I'1 l> G> ~ fT1 o .." G> -UC l>~ ::O,U'J -l-l -l::O ~fT1 o~ () o z CJ o s: z c s: "'>'''',~~.~0'~--:'''''''''.:'::'';''''~'1':':r~~~':':'<';ti-~f0''0l~~~",~~:~~~~!II1;t.......,l,~~,tt).-"'_.... .~,t1 ,~,.ll STATE' RQ 'AD NO. 5 (lis. NO.1) Ii'" .... l1li:= lilF. r"'" ....... IlI:tt 1-". Ul 104:1:' =A". -l !G> ITI en : . !I" en DE := li~ "'tl ~~ ii r if li~iiI Ii' i~ii l> !J XX z !--.' .E i' I=i l=- en li.M i -=. i~ :t: l!:'l!: n .....~. .1' I l , l!!C c.. - % '" PI ~ ~ il!: o '" uluUUBi~ I~ a~HUHl:i 8." Dr o .0 U.UHHH~: - - i H r z ~~!ia:(=e=I;:G) "'p~", ~l.t a-t. - 6~ ~~ .Jo HtHH~Hii l> "'tl rti z o X CD , N Ul -I ITI "'tl r l> Z gl ITI r ITI < ~ o z Ul INTRACOASTAL WATERWAY ~~ I I --J E Z,_ ~ S:; ~ . , CONDOMINIUM PART TWO A th V. St k & A e te I I consulting e"llin_rs . land ourveyors r ur e roc ssocla 5 nc. deerfleld ~h. d.lray ~h. flarida P41 .... ., ~"''''..,,.-,.... "'~""""" ,,,,-,,~,,'~-..,',,,.;~)~~JJQRli,~!UlilJlill.. LANDS SUBMITTED TO CONDOMINIUM A parcel of land situate, lying and being in Sections 33 and 34, Township 45 South, Range 43 East, Palm Beach County, Florida. being more particularly described as follows: Commencing at the Northeast corner of said Section 33; thence S 8g043'15"W 368.39 feet along the'North line of said Section 33 to a point of intersection with the centerline of State Road No. S (U.S. Highway No.1); thence S 1002'1S"W 225.95 feet along said centerline to a point of curvatur.e; thence Southerly along the arc of a curve to the right having a radius of 2864.93 f&et. a central angle of 3P55'10" fop an arc distance of 195.97 feet to a point of tan~ency; thence 5 4057'25"W 882.68 feet; thence N 8903S"2S"E 50.22 feet to a point on the East right-of-way line of said State Road No.5 (U.S. No.1). also being the Point of Beg~nning; ~hence continue N 89035'25"E 365.00 feet to a point; thence 50 27'28"E 34.00 feet. to a point; thence N 89032'32"E 107.39 feet ~o a point; thence S 0027'28"E 98.00 feet to a point; thence 5 '89032!32"W 194.00 feet to a point; thence 5 0027'28"E 65.00 feet to a point;.tfience N 89032'~2"E' 138.00 feet to a eoint; thence S 0027'28"E 93.19 feet to a point; " thence S. 89032'32 W 74.00 feet to a point; thence S 0027'28NE 34.50 feet to a point; thence S 89032'32"W 260.00 feet to a point; thence S 0027'28"E 159.00 feet to a point; thence N 89032'32"E 192.00 feet to a point; then~e S 0027'28"E 37.00 feet to a point;.thence N 890 32'32"E.137.00 feet to a point; thence S 0027'28"E .95.25 feet to a point; thence S 89032'32"W 93.02 feet to a point; thence S 0027'28"E 34.00 feet to a'point; thence S 89032'32"W 380.00 feet to a potnt of" intersection with said East right-of-way line of said State RD8d No.5 (U.S. No.1); thence N 4057'25"E 653.13 feet along said East right-of-way line to the Point of Beginning. Together with and subject to a non-e~clusive easement for ingress and egress over the following described real property. . ACCESS EASEMENT A parcel of land situate, lying and being in Sections 33 and 34, Township 45 South, Range 43 East, Palm Beach County, Florida, being more particularly described as follows: Commencing at the Northeast corner of said Section 33; thence S 89043'15"W alond the North line of said Section 33, a dtstance of 368.39 feet to a point of intersection with the centerline of State Road No. S (U.S. No.1); thence 5 1002'15"W along said centerline a distance of 225.95 feet to a point of curvature; thence Southerly along the arc of a curve to the right having a radius of 2864.93 feet, a central angle of 30S5'101l. for an arc distance of 195.97 feet to a point of tangency; thence S 40S7'25"W a distance of 882.68 feet; thence N 89035'25"E a distance of SO.22 feet to a point on the East right-of-way line of said State Road No.5; thence run S 4057'25"W 311.39 feet along said East right-of-way line to the Point of Beginning; thence run N 89032'32"E 78.58 feet to a , point; thence run N 44032'32"E 44.55 feet to a point; thence run N 89032'32"E 504.25 feet to a point; thence run S 0027'28"E 93.00 feet to a point; thence run S 89032'3211W 504.25 feet to a point; thence N 45027'28"W 44.55 feet to a point; thence run S 89032'32"W 81.42 feet to a point of intersection with said East right-of-way line of State Road No.5; thence run N 4057125"E 30.13 feet along said East right-of-way line to the Point of Beginning; less the North 45 feet of the South 69 feet of the West 470.31 feet of the East 494.31 feet. i~2254 PAGE 744 "of .. '1-' ., P42 SEAGATE OF GULF STREAM CONDOMINIUM ASSOCIATION 2020 South Federal Highway Boynton Beach, Florida, 33435 Re: Third party cost estimates Our ten buildings were last painted in 2001. In 2005, we were contacted by the paint contractor, Coastal Painting, to inform us that if we would sign a contract at that time, the price would be the same that we paid in 2001. We informed him that we were not due to repaint until 2007. He said that he would still honor it at that time. We contacted several other contractors to obtain bids, but none of them would give us a price that far in advance. On the last page of the contract, the commencement date is shown as Spring 2007. The President signed it on 4/27/05. This year, the Board of Directors decided that our buildings needed painting now. I hope that this explains why we don't have three estimates. Sincerely 16:.~ Director A. Estimated time line. 3 to 4 months depending on the weather. Painting on the first building is underway. B. Financial ability to pay. Paint reserves C. Light beige walls with coco doors P43 LICENSED Coastal Painting and Waterproofing . 1471 SW 30TH AVE., DEERFIELD BEACH, FLA. 33442 INSURED (800)320-8083 _PAINTING WATERPROOFING STRUCTURAL RESTORATION I APRIL OS, 200S (UPDATED) FAX (954) 427.1994 PRESSURE CLEANIN Tnn)' Bnmtf"" P1V!.\'idelfr THIS PROPOSAL, IN CONJUNCTION WITH PORTER PAINT COMPANY MANUFACTURER'S SPECIFICATIONS IS FOR THE PREPARATION AND REPAINTING OF SEAGA TE OF GULFSTREAM CONDO. ASSOC., LOCATED AT 2000-2020 FEDERAL mGHWAY, BOYNTON BEACH, FL 33432. CONSISTING OF 10 BUILDINGS, CLUBHOUSE & POOL BUILDINGS. CONTACT: BOARD OF DIRECTORS - 561-737-4661 Shue leltlin Vice-Presidenr THIS PROPOSAL IS BASED ON USING UCIP AINT COMPANY. THEY OFFER OUR COMPANY AND CUSTOMERS SUPERIOR PAINT COATINGS, SERVICE, INSPECTIONS AND WARRANTY'S. IF THE ASSOCIATION WANTS TO USE AN ALTERNATIVE PAINT COMPANY SUCH AS PORTER OR BENJAMIN MOORE PAINTS, THERE WILL BE NO EXTRA CHARGE. GENERAL SCOPE: 1. Pressu re Cleaning. Pressure clean all exterior surfaces to be painted. Affected areas fI,qtlilli with mold and/or mildew will be killed prior to washing. Pressure clean exterior ~ I...,.., surfaces using a minimum of 3000 P.S.I. to remove dirt, mildew, chalk and loose paint as deemed necessary by contractor. 2. Sealer. Using VCI ACRYLIC PAINT SEALER, coat all weather exposed stucco surfaces. The sealer specified is a penetrating sealer used to eliminate all chalk residue not removed by the pressure cleaning process. This application is to ensure proper adhesion of patching compound, caulk and paint. 3. Repair cracks in masonry stucco. Cracks less than 1/32" to be cleaned, sealed and patched with VCI ELAST01\1ERIC PATCHING COMPOUND. Cracks 1/32" to 5/64" will be V'd out, sealed and patched. Cracks greater than 5/64", stairway block cracks and larger moveable cracks will be dug out, cleaned, sealed and filled using VCI ELASTOMERIC PATCHING COMPOUND. After complete curing, surface win be patched using UCI ELASTOMERIC P A TCHlNG COMPOUND. Apply vCI HYDRODERM FIBEROUS :MEMBRANE PATCH TO ALL TOP OF wall parapet surfaces. 4. Caulking. Remove all loose and deteriorated caulking presently installed at all metal to stucco perimeter joints and where casings meet stucco. Solvent-wipe areas to be re-caulked. Using UCI ACRYLIC CAULK, apply a continuous watertight bead where window and door frames meet stucco. All door and window frames will be caulked. All 90 degree angles where wall meets wall, wall meets soffit and wall meets ceilings will be caulked where signs of cracking is apparent. P44 5. Paint Exterior Stucco Surfaces: Sheer Walls, Stairwell Walls & Ceiling Surfaces, ( \ House, Pool buildings, Buildings on Roofs, Entry Walls to Complex and Garbage A. d Walls. After proper preparation all listed surfaces will be finish coated with UCI ULTRA KOTE SATIN ACRYLIC PAINT #50-100. 6. Paint Top Cap of Catwalk and Stairwell Railings. All surfaces will be primed where ban with UCI FAST DRY METAL PRIMER. Surfaces will be finish coated with UCI ALKyr GLOSS ENAMEL #2-100. 7. Paint Utility, Elevator and Common Doors & Frames. All surfaces will be primed when bare with UCI FAST DRY PRIMER. Surfaces will be finish coated with VCI ALKyr GLOSS ENAMEL #2-100. 8. Painting Catwalk Decks, Stairs & Stairwell Landing. After proper preparation al previously painted surfaces will be finish coated with UCI ACRYLIC FLOOR ENAMEL A non-skid aggregate will be added to all floor coatings. 9. Contract Condition. Painting Contract and Manufacturer's Specifications become part ofthi~ contract and shall be binding in every respect. 10. The Painting Contractor is to meet the requirements of paint manufacturer's labor all( Material Warranty according to specifications submitted by the paint manufacturer with thi~ proposal and secure warranty for Association upon completion and payment in full. As t1 specifications pertain to Coastal Paintings Contract. 11. The Painting Contractor shall be responsible f(i)r and use the utmost care in protection 0: occupant's property, including all screens, windows, walkways, shrubbery, parked vehicle~ and any other property in the area, from paint and/or other damage. 12. The Painting Contractor shall be solely responsible for the rectification of any suer damage; the cleanup involved in the work outlined in this specification; his employees durin~ the performance of their labor. 13. All work is to be done in a workmanlike manner QY skilled mechanics and carried out in sud a way as to minimize any inconvenience to the !occupants. The Painting Contractor shat: maintain a full work force from start to completio*, and leave a qualified foreman on the job 14. The Owner(s) agree to and shall beresponsibJe fotthe trimming and/or removal of all foliagf clinging to or otherwise obstructing the buildings~ preventing vehicles from parking nearb) while work is in progress and generally permitting adequate access to the areas to be painted 15. The Owner(s) designated representative and the Painting Contractor shall transmit al information pertaining to the job and shall not permit unauthorized interference from resident~ of the Owners' property or from the Painting Contractors' employees. P45 J6. The OWller(s) or DI8lIagement agree to make every effort to notitY all occupants Ofl property to remove any personal items and patio furniture from the area to permit the Painti Contractor to proceed without delay. I 7. Release of Liens. The Painting Contractor shall submit a "Pull Waiver of Lien" prior to fir payment to render the project free of any liens. The Contractor shall save Owner hannle from all liens and/or damages from this work. A "Partial Waiver of Lien" shall be provicL upon each draw. 18. The Painting Contractor agrees to submit certificates of insurance covering liability proper damage and worker's compensation coverage, which shall be kept in force during the enti; course of the work. . 19. The PalDting Contractor shall advise the Owner of areas in which work is to be perfurme sufficiently in advance of the work schedule in order to permit the owner to prepare. INCLUSIONS I. Pressure clean all surfaces to be painted. 2. Seal aU exposed exterior stucco. 3. Patch all cracks in stucco surfaces.. 4. Caulk an windows and door frames and 900 angles. Eastern side remove and replace caulk 5. Paint ex1erior stucco surfaces, stairwell walls, ceilings, club house, entry walls to complex, parapets and garbage area walls. 6. Paint all elevator, utility and common doors & frames. 7. Paint all top caps of catwalk and stairwell railings. 8. Paint all catwalk decks, stairs and stairwell landings. EXCLUSIONS: Window Frames, Screened in Patios, Screen Metal, Aluminum Common Doors, Seawall, Copper Drip Caps, Hurricane Shutters, Fire Ext. Boxes, Light Fixtures and Poles, Pool Deck, and ALL ELSE NOT MENTIONED IN SCOPE. P46 ~~sis~~;~: ;l;a~ Ido'""n~~he~~~;;~~" ~~rrt~~ ; ~;. 954:~70-8083: ~. .. .. - - -.. - - -. -- - J Tony Brunetto President I Shane Lemin V. President Bob Gianquitti Sales Manager COMMENCEMENT - SPRING 2007. < Coastal Painting will repaint SEAGATE OF GULFSTREAM CONDO. ASSOC for the sum of: I' ONE HYNDRED FIFTY-TWO TlIO~SAND FIVE HUNDRED $152.500.00 I COASTAL PAINTING AND uel PAINT COMPANY WILL HOLD THIS PRICI TILL SPRING 2007, IF THE CONTRACT CAN BE SIGNED AT YOUR NEXl BOARD OF DIRECTORS MEETING. ~~aq (fA? /17?,4?tfI/4.c. ~# ~A.1Y 1i?7 I I OPTIONS 1. PREPARE AND PAINT CA TW ALK RAILINGS ON ALL BUILDINGS - $15,750.00 2. PREPARE AND PAINT ALL ENTRY DOORS (ONE COAT) - $3,800.00 3. PREPARE AND ALL CATWALK DECKS, STA.IRS & LANDINGS - INCLUDET 4. THERE IS WILL BE NO CHARGE FOR A SLI~HT COLOR CHANGE ON ALL STUCCO, IN ADDITION, WE WILL PAINT SPF.lCIFIED AREAS WITH AN APPROVED ACCENT COLOR AT NO CHARGE~ 5. COASTAL PAINTING AND THE PAINT MANlUFACTURER WILL DO PHOTO LA YOUTS OF SPECIFIED COLOR SCHEMES - NO CHARGE. 6. UCI PAINT COMPANY WILL SUPPLY COASrrAL PAINTING THEIR TOP OF THE LINE ROOF PAINT AT NO CHARGE TO PAINT THE CLUBHOUSE ROOF. IN ADDITION COASTAL WILL PREPARE ANDlPAINT IT AT NO CHARGE. PAYMENT SCHEDULE [(per buildin2) 1. PAYMENTS TO MADE UPON COMPLETION OF EACH BUILDING, LESS lO~ RETAINER, WHICH WILL BE HELD BACK UNTILI COMPLETION OF ENTIRE PROJECT i BOTH PARTY'S AGREE TO ALL') TE~MS/AND CON. DIT..I~S: Wv"YYJ C/L~,- . f"!~o..1. / p Contract Authorization: '-~ ~;..-.~ .,-/ : Coastal Painting & Waterproofing . Date: o~~~ Contract Acceptance: .-;--, I ,-- Seagate of Gulf stream Condominiu Assoc. Representative Date: oJ/jP..,/o. I P47 c r' '- r- ....- fIJ 5 = .a .s = -= = = u 5 ell ~ J: ~ '3 C - = ~ ell t)l) ell ~ CJ'.) P48 P49 P50 ',1 t;,: 2 , -.! ,_: : '1\ J' . ~, . ,r i ~ ',It U' Ir .\ .~ -j :. ~ dl' Il J , 'B '1 ~~. I~ .~ Jl~11 , P51 " 'I ~ : 1 ''''J' '. } c,"':' ....,. IV. CONSENT AGENDA - D. ENTER INTO LEASE AGREEMENT FOR RELOCATION OF CRA OFFICES BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetine: Dates Turned into CRA Office Meetine: Dates CRA Office 0 January 10, 2006 December 27,2005 (Noon.) 0 July II, 2006 June 27, 2006 (Noon) 0 February 14, 2006 January 31,2006 (Noon) 0 August 8, 2006 July 25, 2006 (Noon) . March 14,2006 February 28, 2006 (Noon) 0 September 12,2006 August 29,2006 (Noon) 0 April II, 2006 March 28, 2006 (Noon) 0 October 10, 2006 September 26, 2006(Noon) 0 May 9, 2006 April 25, 2006 (Noon) [IT;] November 14,2006 October 31, 2006 (Noon) 0 June 13,2006 May 25,2006 (Noon) [IT;] December 12,2006 November 28, 2006 (Noon) NATURE OF AGENDA ITEM o Consent Agenda o Director's Report o Old Business o New Business . Legal o Future Agenda Items o Other Item DATE: March 6, 2006 SUBJECT SUMMARY PARAGRAPH: The CRA wishes to enter into a lease with Craig Pfeiffer, owner of the building presently housing the SailFish Realty firm. It has been determined that this site is ideal for the CRA, and it is really the only suitable location within the CRA area of operations for the staff at this time. RECOMMENDATION: Allow staff to enter into a lease arrangement with Mr. Pfeiffer for office space starting June 1,2006. FISCAL IMPACT/FUNDING SOURCE: Presently the CRA pays $33,600.00 annually for two suites at 639 East Ocean Avenue. The proposed lease would total $48,000.00 annually, or $4,000 per month. Funds for the June, July and August difference were not budgeted in FY 05/06 and will be transferred from other accounts. ALTERNATIVES: Do not approve CRASTAFF: IJ.{T~L - T:\AGENDAS, CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Agenda Item Request Forms\06 03 14 eRA Board Meeting\SailFish Realty Lease.doc 52 v. PUBLIC COMMENTS VI. PUBLIC HEARING OLD BUSINESS VI. PUBLIC HEARING NEW BUSINESS: A. TUSCAN VILLAS (~ ~n-/^ ... BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM :. .;. Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetine: Dates Turned into CRA Office Meetine: Dates CRA Office 0 January 10,2006 December 27,2005 (Noon.) 0 July II, 2006 June 27,2006 (Noon) 0 February 14,2006 January 31, 2006 (Noon) 0 August 8, 2006 July 25, 2006 (Noon) . March 14,2006 February 28, 2006 (Noon) 0 September 12, 2006 August 29, 2006 (Noon) 0 April 11, 2006 March 28, 2006 (Noon) 0 October 10, 2006 September 26, 2006(Noon) 0 May 9,2006 April 25, 2006 (Noon) [J November 14,2006 October 31, 2006 (Noon) 0 June 13,2006 May 25, 2006 (Noon) 0 December 12, 2006 November 28, 2006 (Noon) NATURE OF AGENDA ITEM o Consent Agenda o Director's Report o Old Business o New Business . Legal o Future Agenda Items o Other Item DATE: March 9, 2006 SUBJECT SUMMARY PARAGRAPH: The applicant, Tuscan Homes, is requesting annexation of a 1.341 acre parcel, amendment to the Future Land Use designation from Palm Beach County Commercia.! High to Special High Density Residential and rezoning from Palm Beach County Commercial General to Infill Planned Unit Development in order to construct 22 townhomes on the east side of S. Federal Highway north of Gulfstream Blvd. Attached are my first plan review comments. While the applicant did not add the requested awnings to the second story windows fronting Federal Highway, they did add other architectural features such as arched windows and entryways to the buildings to give the building frontage more interest. They also satisfied the remaining comments. RECOMMENDATION: Approve the annexation, land use and zoning change and the site plan subject to the Conditions of Approval as attached for the Tuscan Villas Project. FISCAL IMPACT/FUNDING SOURCE: Currently there is no ad valorem revenue from the site since it is located in unincorporated Palm Beach County. Once the site is annexed into the City and the project is complete, estimated revenue to the CRA will be $75,600. ALTERNATIVES: Do not approve the applicants request for annexation, Future Land Use amendment, rezoning and site plan for Tuscan Villas. CRA STAFF: ~ \ \J IWl -gmlt.c. @ Vivian L. Brooks CRA Planning Director T:\XTEMP\Vivians Files\Oevelopment Activity\TuscanVillas\LUsiteplanagenda.doc 53 Date: Project No: Name: Location: Type of Project: Size of Site: Number of Units: Existing Land Use: Proposed Land Use: Existing Zoning: Proposed Zoning: Parking Required: Parking Provided: Developer: Architect: CRA Comments: Boynton Beach Community Redevelopment Agency Project Review 12/5/05 NWSP06-002 1 st Review Tuscan Villas S. Federal (South of23rd Street) Townhome 1.407 acres (61,296 sq. ft.) 25 (17.76 du/ac) CH5 (unincorporated PBC) SHDR CG (PBC) IPUD 50 (2 per unit) 50 Tuscan Homes 217 Fortuna Drive Palm Beach Gardens, FL 33410 561-630-1556 David Lawrence 561-805-5793 1. Please clarify whether the entire western portion of the project is buffered by existing garages in the Tradewind development as described in illustration attached to site plan. 2. Add decorative canvas awnings to second story windows along the S. Federal frontage. 3. Clarify ifS. Federal units have sidewalks and gates connecting to public sidewalk on Federal Highway. 4. Provide color elevations. S4 DEVELOPMENT DEPARTMENT PLANNING Be. ZONING DMSION MEMORANDUM NO. PZ 06-034 TO: Chair and Members Community Redevelopment Agency Board and Mayor and City Commission Eric Lee Johnson, AICP r- Planner Michael W. Rumpf Director of Planning and Zoning FROM: THROUGH: DATE: March 6, 2006 PROJECT NAME/NUMBER: Tuscan Villas (aka Villas at Boynton Beach) ANEX 06-002 and LUAR 06-002 REQUEST: To annex the 1.341-acre parcel; Amend the Future Land Use designation from Palm Beach County Commercial High, with an underlying Medium Residential, S units per acre (CH/S) to Special High Density Residential (SHDR) and rezone from Palm Beach County Commercial General (CG) to Infill Planned Unit Development (IPUD) PROJECT DESCRIPTION Property Owner: Tuscan Villas at Boynton Beach, LLC Applicant! Agent: Wendy Tuma / Urban Design Studio Location: On east side of Federal Highway approximately 1,100 feet north of Gulfstream Boulevard (Exhibit "A") Parcel Size: :t1.341 acres Existing Land Use: Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CH/S) Existing Zoning: Palm Beach County Commercial General (CG) Proposed Land Use: Special High Density Residential (SHDR) Proposed Zoning: Proposed Use: IPUD Infill Planned Unit Development Townhouse Community 55 Page 2 File Number: ANEX 06-002 I LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) Adjacent Uses: North: Developed commercial (Gulfstream Carpet) designated with Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) land use and zoned Palm Beach County Commercial General (CG); South: Developed commercial (licensed as Supervised Construction Services), designated with Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) land use and zoned Palm Beach County Commercial General (CG); East: Developed single-family residential lots designated with Palm Beach County Medium Residential, S units per acre (MR-5) land use and zoned Palm Beach County Single-family Residential (RS); and West: Right-of-way for Federal Highway, then farther west is partially developed commercial property recently approved for townhouse units (Gulfstream Gardens) designated with Special High Density Residential (SHDR) land use and zoned Planned Unit Development (PUD). EXECUTIVE SUMMARY Staff recommends approval of the requested annexation, land use amendment and rezoning for the following reasons: 1. The requested annexation is consistent with the City's annexation policy; the property is contiguous to properties lying within the City of Boynton Beach, and forms a reasonably compact addition to the city boundaries; 2. The future land use amendment is consistent with the policies of the City's Comprehensive Plan, particularly that portion of policy 1.16.1 defining the Special High Density Residential land use relative to redevelopment planning, urban densities and housing opportunities; 3. The proposed redevelopment plan is consistent with the vision and recommendations of the Federal Highwav Corridor Community Redevelooment Plan; and, 4. The requested land use amendment and rezoning meet the criteria for review, as required in the Land Development Regulations. 56 Page 3 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) PROJECT ANALYSIS The parcels, which are the subject of this land use amendment, total 1.341 acres. Because of the size of the property under consideration, the Florida Department of Community Affairs classifies this amendment as a "small scale" amendment. A "small-scale" amendment is adopted prior to forwarding to the Florida Department of Community Affairs and is not reviewed for compliance with the state, regional, and local comprehensive plans prior to adoption. The subject property is currently developed with an auto dealership (per County DRC Petition# 1994-060). . Master I Site Plan Analysis The Land Development Regulations require approval of a master plan concurrent with approval of a rezoning to the IPUD Infill Planned Unit Development district. A site plan approval may take the place of the master plan, as is requested in this case. The site plan proposes a 22-unit, townhouse-style condominium development at a gross density of 16.4 dwelling units per acre (du/ac). Structures are generally proposed at three (3) stories with the exception of the buildings closest to the single-family neighborhood to the east, where the easternmost portions of the buildings would be two (2)-stories. The main point of ingress / egress is proposed on Federal Highway. The street system internal to the development is generally proposed in a circuitous configuration. The residents would access their garages via these drive aisles. Pedestrian circulation is separated from the roadways, reducing potential conflicts with vehicular circulation. Recreation amenities include a swimming pool and cabana area, centrally located to all proposed units. The project proposes 22, three (3)-bedroom units and a small recreation facility, and therefore, requires a total of 44 parking spaces. The site plan shows that each unit would have a two (2)- car garage, which would thus equate to providing 44 parking spaces. Combining the garage spaces and 90-degree spaces, the site plan would provide for a total of 48 parking spaces or an excess of four (4) parking spaces. The site plan proposes a building setback (from the east property line) that ranges between a minimum of 11.7 feet to a maximum of 35.2 feet. The accompanying site plan shows that a buffer wall is proposed along the east property line in conjunction with various trees and shrubs to provide the necessary buffering between the townhouses and the single-family neighborhood to the east. The property to the north is zoned County CG and developed with a commercial use (Gulfstream Carpet). The proposed townhouse buildings would be setback 10.3 feet from the north property line. This difference in building setbacks between the subject project and the commercial property to the north is consistent with other residential infill projects reviewed by the City. The property to the south is also zoned County CG. The townhouse buildings would be setback between five (5) feet and nine (9) feet. Like the north setback against commercial zoning, the reduced building setback from the south property line is consistent with other approved projects. For this new site plan, all proposed building setbacks are consistent with the existing setbacks within the surrounding neighborhoods and meet the intent of the IPUD zoning district setback regulations. A more comprehensive discussion of the details will 57 Page 4 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) be provided by staff as a part of the corresponding site plan review (NWSP 06-002) since a site plan is substituting for a master plan. Review Based On Criteria The criteria used to review Comprehensive Plan amendments and rezonings are listed in the Land Development Regulations, Chapter 2, Section 9, Administration and Enforcement, Item C. Comprehensive Plan Amendments: Rezonings. These criteria are required to be part of a staff analysis when the proposed change includes an amendment to the Comprehensive Plan Future Land Use Map. Pursuant to Section 9.C.2(2) of the Land Development Regulations, when reviewing requests for annexation, staff is not required to review the petition against the eight (8) criteria by which land use amendments and rezonings are to be reviewed as indicated in Section 9.C.7. when the proposed zoning is consistent with zoning or land use recommendations contained in the Comprehensive Plan. Usually in those instances, staff analysis relates only to consistency with other relevant portions of the Comprehensive Plan, the city"s annexation program and service capability. In addition, the requested land use designation and rezoning are for a change to residential uses; therefore, a review based on the criteria is warranted. a. Whether the proposed rezoning would be consistent with applicable comprehensive plan policies including but not limited to, a prohibition against any increase in dwelling unit density exceeding 50 in the hurricane evacuation zone without written approval of the Palm Beach County Emergency Planning Division and the City's risk manager. The planning department shall also recommend limitations or requirements, which would have to be imposed on subsequent development of the property, in order to comply with policies contained in the comprehensive plan. Over the past several years, the City has seen a shift from the perpetuation of small commercial uses along the corridor to residential uses, particularly those with densities greater than 10.8 units per acre. Higher density development was facilitated by the City's Comprehensive Plan through the establishment of the Special High Density Residential (SHDR) land use classification, intended to support redevelopment in the coastal area. Land use amendments and rezonings, which change designations from commercial use to residential use, are particularly consistent with two policies in the Comprehensive Plan: ''Policy 1.17.1 The City shall continue to discourage additional commercial and industrial uses beyond those which are currently shown on the Future Land Use Map, except where access is greatest and impacts on residential land uses are least'~ and ''Policy 1.19.7 The City shall continue to change the land use and zoning to permit only residential or other non-commercial uses in areas where the demand for commercial uses will not increase, particularly in the Coastal Area. " 58 Page 5 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) The subject property, if annexed, would be located in Planning Area V (Entrances to the City) in the Federal Highwav Corridor Community RedeveloDment Plan, which was adopted by the City on May 16, 2001. The plan's recommendations for this planning area include the following: "Encourage a variety of housing. Develop intensity standards that allow for a variety of housing styles and types at intensities that will assist in supporting the downtown area and general economic expansion." (p. 80); and "Require a transition to the adjacent gateway neighborhoods. . Create development standards in the city entrance communities that establish a logical transition to the gateway communities. Building scale, massing and placement should be less intense than that of the adjacent planning areas, but substantial enough to announce an arrival in the City." (p. 81) In concert with the recommendations cited, the residential density of the proposed development will help to support the downtown commercial core, as well as the recognized commercial nodes in the corridor. In addition, it is proposed at a scale and massing that will provide a transition into the downtown area, where development standards allow greater densities and more intense massing of buildings. b. Whether the proposed rezoning would be contrary to the established land use pattern, or would create an isolated district unrelated to adjacent and nearby districts, or would constitute a grant of special privilege to an individual property owner as contrasted with the protection of the public welfare. The proposed rezoning would not be contrary to the established (and anticipated) land use pattern of the immediate vicinity. The proposed annexation / rezoning would not create an isolated zoning district unto itself but would appropriately relate the subject property with previously approved townhouse projects within the local area. For example, Gulfstream Gardens PUD, the closest mUlti-family townhouse project, is located on west side of Federal Highway directly across the street from the subject property. Several lots of the Gulfstream Gardens project were previously located within a small enclave of unincorporated Palm Beach County. As part of the project, these lots were annexed into the city, and all lots were collectively rezoned to PUD in order to construct 308 townhouse units. The subject property is also located within close proximity of other smaller, infill townhouse projects that were recently rezoned from commercial to residential (PUD and IPUD). For example, Bayfront and Oceanside, which are two (2) Southern Homes townhouse communities located on the west side of Federal Highway, just north of the subject property, were rezoned to IPUD and approved for 93 townhouses collectively. Additionally, Waterside, located approximately 800 feet north of the subject property on the east side of Federal Highway, is another example of a townhouse community that was annexed into the city and rezoned to IPUD. Rnally, Heritage Club, located . approximately 680 feet south of the subject property on the west side of Federal Highway, was approved for a mixed-use development that required rezoning from Community Commercial (C- 3) to PUD. These aforementioned projects exemplify the current land use trend, of converting older and antiquated strip-commercial developments within the Federal Highway corridor into medium and high-end mUlti-family residential developments. As evidenced by these example 59 Page 6 File Number: ANEX 06-002 I LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) projects, the proposed rezoning would not constitute a grant of special privilege to an individual property owner. c. Whether changed or changing conditions make the proposed rezoning desirable. According to Palm Beach County records, an auto sales business has been in existence on the subject property since 1973. In 1994, the site was approved for County Development Review Committee (ORe) review because the owner wanted to expand the size of the building. Under the County Code, auto sales is allowed in the Commercial General (CG) zoning district but only as a Special Exception, which is analogous to the city's conditional use process. As previously mentioned, the city has witnessed a steady trend of property owners converting their properties approved for commercial uses and lor single-family residential uses to multi-family residential uses within the last five (5) years along the Federal Highway corridor. Often this conversion serves to remove marginal, and sometimes undesirable, commercial uses. The adoption of the IPUD regulations in June 2002 provided an attractive incentive for redevelopment and infill projects on these smaller parcels in the Federal Highway corridor. Townhouses are permitted uses in the IPUD zoning district. Therefore, these two changes in current conditions serve to make the proposed rezoning desirable. d. Whether the proposed use would be compatible with utility systems, roadways, and other public facilities. The applicant submitted a traffic study and it was forwarded to the Palm Beach County Traffic Division for their review and approval. The Traffic Division reviewed the traffic study for the proposed land use amendment I rezoning and determined that the accompanying residential project is located within the County designated "Coastal Residential Exception Area" and therefore meets the Traffic Performance Standards of Palm Beach County. The accompanying site plan is expected to generate 175 new daily trips. However, this is 2,593 less trips than if the property had been built-out to its maximum potential under the current commercial land use classification. Maximum Potential Water / Sewer Traffic Development Population Demand Generation Potential Trips / day Existing Land Use 60,983 square 15 persons* 7,500 gpd* / 2,768* (Actual) feet of 7,500 gpd* commercial * Proposed Development 22 fee-simple 153 persons 9,560 gpd/ 175 townhouse 4,300 gpd units The project is estimated to require a total of 9,560 gallons of potable water per day. The City's water capacity, as increased through the purchase of up to 5 million gallons of potable water per day from Palm Beach County Utilities, would meet the projected demand for this project. so Page 7 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) Additionally, sufficient sanitary sewer and wastewater treatment capacity is currently available to serve the projected total of 4,300 gallons per day. With respect to solid waste, the Palm Beach County Solid Waste Authority has stated that adequate capacity exists to accommodate the county's municipalities throughout the 10-year planning period. Regarding school concurrency, the proposed project lies within Concurrency Service Area (CSA) 19 and 20. Based on the School District's adopted multipliers for a dwelling unit, the proposed development may generate two (2) elementary school students,. one (1) middle school students, and two (2) high school students. The schools currently serving the area and their utilization are as follows: Schools Current Caoadtv Current Enrollment Utilization% Plumosa Elementarv School 652 386 59% Odvssev Middle School 1742 1100 63% Atlantic High School 2500 2363 95% On November 18, 2005, the School District issued a Concurrency Determination for the site plan. The Concurrency Determination is valid for one (1) year from the date of issuance. Once a Development Order has been issued for the project, the concurrency determination will be valid for the life of the Development Order. The level of service for school concurrency is 110%. Based on existing utilization, another school would not be necessary to serve the area. The City's Rre Rescue and Police Departments have reviewed the application and determined that current staffing levels would be sufficient to meet the expected demand for services. Lastly, drainage will also be reviewed in detail as part of the review of the site plan approval, and must satisfy all requirements of the city and local drainage permitting authorities. e. Whether the proposed rezoning would be compatible with the current and future use of adjacent and nearby properties, or would affect the property values of adjacent or nearby properties. As stated above in response to Criterion "b", the proposed land use and rezoning would be consistent with the land use and zoning districts approved for the adjacent properties; to the west (Gulfstream Gardens), to the north (Bayfront, Oceanside, and Waterside), and to the south (Heritage Club). Any effects on property values would be positive and would help to increase the city's tax base. The applicant asserts that the project would be a high-quality townhouse community with excellent landscape and site design which would enhance the surrounding properties. 81 Page 8 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) f. Whether the property is physically and economically developable under the existing zoning. The property is currently developed with an auto sales business. The economic viability of auto sales is questionable, considering the size of the property, the magnitude of competitors within nearby Delray Beach, and the transition to high-density residential uses that is presently occurring under the guidelines of the Federal HifJhwav Corridor Community RedeveloDment Plan. The applicant states that "the scarcity of developable real estate east of Federal .Highway has created a great demand for residential property. Based on the analysis, a rezoning from the existing commercial zoning would enhance the area and create housing needed in the eastern communities". Staff concurs. g. Whether the proposed rezoning is of a scale which is reasonably related to the needs of the neighborhood and the city as a whole. The requested annexation, land use amendment, and rezoning presents the opportunity for quality redevelopment in a highly visible entrance corridor to the City and would also support the current trend toward greater residential uses in this area, economic revitalization, and downtown redevelopment. Likewise, the proposed zoning district (IPUD) has design guidelines and fixed requirements built into the regulations to help protect neighborhoods of single-family detached homes. The accompanying site plan demonstrates compliance with the intent of the IPUD zoning district. The proposed project would be an appropriate transitional use and intensity (from Federal Highway). h. Whether there are adequate sites elsewhere in the city for the proposed use/ in districts where such use is already allowed. Residential densities of 20 dwelling units per acre are permitted in the Federal Highway corridor to encourage infill development and redevelopment. There are a limited number of sites elsewhere in the city where residential development could occur at a density of 10.8 du/ac; however, those sites do not offer the opportunity for redevelopment and infill development that this location affords. Nor would development of those available sites serve to promote the goals of the Community Redevelopment Agency and the Federal Highwav Corridor Community RedeveloDment Plan. CONCLUSIONS/RECOMMENDADONS As indicated herein, this request is consistent with the intent of the Comprehensive Plan; would not create additional impacts on infrastructure that cannot be accommodated by existing capacities; will be compatible with adjacent land uses and will contribute to the overall economic development of the City. Therefore, staff finds or recommends: 1. That the requested annexation is consistent with the CitYs annexation policy, the property is contiguous (across the street) with properties lying within the City of Boynton Beach, and forms a reasonably compact addition to the city boundaries; therefore the annexation should be approved; 62 Page 9 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) 2. That the City Commission, acting as the Local Planning Agency, finds the proposed amendments consistent with the Comprehensive Plan; 3. That the requested land use amendment and rezoning meet or exceed the criteria for review, as required in the Land Development Regulations; 4. That the proposed redevelopment plan is consistent with the VISion and recommendations of the Federal Highwav Corridor Community Redevelooment Plan; therefore, 5. The requested land use amendment and rezoning be approved. If the Community Redevelopment Agency Board or the City Commission recommends conditions, they will be included as Exhibit "B". ATTACHMENTS S:\Plannlng\SHARED\WP\PROJEcrs\Tuscan V1Has\LUAR 06-002\Slaff Report.doc 83 LOCATION MAP Tuscan Villas Exhibit "A" ej . ,..- PUD C-3 IPUD PUD 210 105 0 I TURNER RD ~ r- 3: C ;;0 County CG Gulfstream OR ROBERTS RD County RM N + 210 420 630 840 I Feet ft EXHIBIT "B" Conditions of Auproval Project name: File number: fi Tuscan Villas (aka Villas at Boynton Beach) ANEX 06-002 and LUAR 06-002 S ff M d P&Z 06-034 Re erence: ta renort ernoran urn DEPARTMENTS INCLUDE REJECT PUBLIC WORKS Comments: None UTILITIES Comments: None FIRE Comments: None POLICE Comments: None ENGINEERING DIVISION Comments: None BUILDING DIVISION Comments: None PARKS AND RECREATION Comments: None FORESTERlENVIRONMENTALIST Comments: None PLANNING & ZONING Comments: None ADDITIONAL COMMUNITY REDEVELOPMENT AGENCY COMMENTS: 85 Page 2 Tuscan Villas (aka Villas at Boynton Beach) File No.: LUAR 06-002 DEPARTMENTS INCLUDE REJECT Comments: 1. To be determined. ADDITIONAL CITY COMMISSION COMMENTS: Comments: 2. To be determined. S:\Planning\SHARED\WP\PROJECTS\Tuscan Villas\LUAR 06-OO2\COA.doc ss DEVELOPMENT DEPARTMENT PLANNING It ZONING DMSION MEMORANDUM NO. PZ 06-034 TO: Chair and Members Community Redevelopment Agency Board and Mayor and City Commission Eric Lee Johnson, AICP r" Planner Michael W. Rumpf Director of Planning and Zoning FROM: THROUGH: DATE: March 6, 2006 PROJECT NAME/NUMBER: Tuscan Villas (aka Vinas at Boynton Beach) ANEX 06-002 and LUAR 06-002 REQUEST: To annex the 1.341-acre parcel; Amend the Future Land Use designation from Palm Beach County Commercial High, with an underlying Medium Residential, S units per acre (CH/S) to Special High Density Residential (SHDR) and rezone from Palm Beach County Commercial General (CG) to Infill Planned Unit Development (IPUD) PROJECT DESCRIPTION Property Owner: Tuscan Villas at Boynton Beach, LLC Applicant! Agent: Wendy Tuma / Urban Design Studio Location: On east side of Federal Highway approximately 1,100 feet north of Gulfstream Boulevard (Exhibit "A'~ Parcel Size: :1:1.341 acres Existing Land Use: Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CH/S) Palm Beach County Commercial General (CG) Special High Density Residential (SHDR) Existing Zoning: Proposed Land Use: Proposed Zoning: IPUD Infi" Planned Unit Development Proposed Use: Townhouse Community 87 Page 2 File Number: ANEX 06-002 I LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) Adjacent Uses: North: Developed commercial (Gulfstream Carpet) designated with Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) land use and zoned Palm Beach County Commercial General (CG); South: Developed commercial (licensed as Supervised Construction Services), designated with Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) land use and zoned Palm Beach County Commercial General (CG); East: Developed single-family residential lots designated with Palm Beach County Medium Residential, S units per acre (MR-S) land use and zoned Palm Beach County Single-family Residential (RS); and West: Right-of-way for Federal Highway, then farther west is partially developed commercial property recently approved for townhouse units (Gulfstream Gardens) designated with Special High Density Residential (SHDR) land use and zoned Planned Unit Development (PUD). EXECUTIVE SUMMARY Staff recommends approval of the requested annexation, land use amendment and rezoning for the following reasons: 1. The requested annexation is consistent with the City's annexation policy; the property is contiguous to properties lying within the City of Boynton Beach, and forms a reasonably compact addition to the city boundaries; 2. The future land use amendment is consistent with the policies of the City's Comprehensive Plan, particularly that portion of policy 1.16.1 defining the Special High Density Residential land use relative to redevelopment planning, urban densities and housing opportunities; 3. The proposed redevelopment plan is consistent with the vision and recommendations of the Federal Highwav Corridor Community Redevelopment Plan; and, 4. The requested land use amendment and rezoning meet the criteria for review, as required in the Land Development Regulations. 68 Page 3 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) PROJECT ANALYSIS The parcels, which are the subject of this land use amendment, total 1.341 acres. Because of the size of the property under consideration, the Florida Department of Community Affairs classifies this amendment as a "small scale" amendment. A "small-scale" amendment is adopted prior to forwarding to the Florida Department of Community Affairs and is not reviewed for compliance with the state, regional, and local comprehensive plans prior to adoption. The subject property is currently developed with an auto dealership (per County DRC petition# 1994-060). Master I Site Plan Analysis The Land Development Regulations require approval of a master plan concurrent with approval of a rezoning to the IPUD Infill Planned Unit Development district. A site plan approval may take the place of the master plan, as is requested in this case. The site plan proposes a 22-unit, townhouse-style condominium development at a gross density of 16.4 dwelling units per acre (du/ac). Structures are generally proposed at three (3) stories with the exception of the buildings closest to the single-family neighborhood to the east, where the easternmost portions of the buildings would be two (2)-stories. The main point of ingress / egress is proposed on Federal Highway. The street system internal to the development is generally proposed in a circuitous configuration. The residents would access their garages via these drive aisles. Pedestrian circulation is separated from the roadways, reducing potential conflicts with vehicular circulation. Recreation amenities include a swimming pool and cabana area, centrally located to all proposed units. The project proposes 22, three (3)-bedroom units and a small recreation facility, and therefore, requires a total of 44 parking spaces. The site plan shows that each unit would have a two (2)- car garage, which would thus equate to providing 44 parking spaces. Combining the garage spaces and 90-degree spaces, the site plan would provide for a total of 48 parking spaces or an excess of four (4) parking spaces. The site plan proposes a building setback (from the east property line) that ranges between a minimum of 11.7 feet to a maximum of 35.2 feet. The accompanying site plan shows that a buffer wall is proposed along the east property line in conjunction with various trees and shrubs to provide the necessary buffering between the townhouses and the single-family neighborhood to the east. The property to the north is zoned County CG and developed with a commercial use (Gulfstream Carpet). The proposed townhouse buildings would be setback 10.3 feet from the north property line. This difference in building setbacks between the subject project and the commercial property to the north is consistent with other residential infill projects reviewed by the City. The property to the south is also zoned County CG. The townhouse buildings would be setback between five (5) feet and nine (9) feet. Like the north setback against commercial zoning, the reduced building setback from the south property line is consistent with other approved projects. For this new site plan, all proposed building setbacks are consistent with the existing setbacks within the surrounding neighborhoods and meet the intent of the IPUD zoning district setback regulations. A more comprehensive discussion of the details will 89 Page 4 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) be provided by staff as a part of the corresponding site plan review (NWSP 06-002) since a site plan is substituting for a master plan. Review Based On Criteria The criteria used to review Comprehensive Plan amendments and rezonings are listed in the Land Development Regulations, Chapter 2, Section 9, Administration and Enforcement, Item C. Comprehensive Plan Amendments: Rezonings. These criteria are required to be part of a staff analysis when the proposed change includes an amendment to the Comprehensive Plan Future Land Use Map. Pursuant to Section 9.C.2(2) of the Land Development Regulations, when reviewing requests for annexation, staff is not required to review the petition against the eight (8) criteria by which land use amendments and rezonings are to be reviewed as indicated in Section 9.C.7. when the proposed zoning is consistent with zoning or land use recommendations contained in the Comprehensive Plan. Usually in those instances, staff analysis relates only to consistency with other relevant portions of the Comprehensive Plan, the city's annexation program and service capability. In addition, the requested land use designation and rezoning are for a change to residential uses; therefore, a review based on the criteria is warranted. a. Whether the proposed rezoning would be consistent with applicable comprehensive plan policies including but not limited to, a prohibition against any increase in dwelling unit density exceeding 50 in the hurricane evacuation zone without written approval of the Palm Beach County Emergency Planning Division and the City's risk manager. The planning department shall also recommend limitations or requirements, which would have to be imposed on subsequent development of the property, in order to comply with policies contained in the comprehensive plan. Over the past several years, the City has seen a shift from the perpetuation of small commercial uses along the corridor to residential uses, particularly those with densities greater than 10.8 units per acre. Higher density development was facilitated by the City's Comprehensive Plan through the establishment of the Special High Density Residential (SHDR) land use classification, intended to support redevelopment in the coastal area. Land use amendments and rezonings, which change designations from commercial use to residential use, are particularly consistent with two policies in the Comprehensive Plan: ''Policy 1.17.1 The City shall continue to discourage additional commercial and industrial uses beyond those which are currently shown on the Future Land Use Map, except where access is greatest and impacts on residential land uses are least'~ and ''Policy 1.19.7 The City shall continue to change the land use and zoning to permit only residential or other non-commercial uses in areas where the demand for commercial uses will not increase, particularly in the Coastal Area." 70 Page 5 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) The subject property, if annexed, would be located in Planning Area V (Entrances to the City) in the Federal Highwav Conidor Community RedeveloDment Plan, which was adopted by the City on May 16, 2001. The plan's recommendations for this planning area include the following: "Encourage a variety of housing. Develop intensity standards that allow for a variety of housing styles and types at intensities that will assist in supporting the downtown area and general economic expansion." (p. 80); and "Require a transition to the adjacent gateway neighborhoods. Create development standards in the city entrance communities that establish a logical transition to the gateway communities. Building scale, massing and placement should be less intense than that of the adjacent planning areas, but substantial enough to announce an arrival in the City." (p. 81) In concert with the recommendations cited, the residential density of the proposed development will help to support the downtown commercial core, as well as the recognized commercial nodes in the corridor. In addition, it is proposed at a scale and massing that will provide a transition into the downtown area, where development standards allow greater densities and more intense massing of buildings. b. Whether the proposed rezoning would be contrary to the established land use pattern, or would create an isolated district unrelated to adjacent and nearby districts, or would constitute a grant of special privilege to an individual property owner as contrasted with the protection of the publiC welfare. The proposed rezoning would not be contrary to the established (and anticipated) land use pattern of the immediate vicinity. The proposed annexation / rezoning would not create an isolated zoning district unto itself but would appropriately relate the subject property with previously approved townhouse projects within the local area. For example, Gulfstream Gardens PUD, the closest multi-family townhouse project, is located on west side of Federal Highway directly across the street from the subject property. Several lots of the Gulfstream Gardens project were previously located within a small enclave of unincorporated Palm Beach County. As part of the project, these lots were annexed into the city, and all lots were collectively rezoned to PUD in order to construct 308 townhouse units. The subject property is also located within close proximity of other smaller, infill townhouse projects that were recently rezoned from commercial to residential (PUD and IPUD). For example, Bayfront and Oceanside, which are two (2) Southern Homes townhouse communities located on the west side of Federal Highway, just north of the subject property, were rezoned to IPUD and approved for 93 townhouses collectively. Additionally, Waterside, located approximately 800 feet north of the subject property on the east side of Federal Highway, is another example of a townhouse community that was annexed into the city and rezoned to IPUD. Rnally, Heritage Club, located approximately 680 feet south of the subject property on the west side of Federal Highway, was approved for a mixed-use development that required rezoning from Community Commercial (C- 3) to PUD. These aforementioned projects exemplify the current land use trend, of converting older and antiquated strip-commercial developments within the Federal Highway corridor into medium and high-end multi-family residential developments. As evidenced by these example 71 Page 6 File Number: ANEX 06-002 I LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) projects, the proposed rezoning would not constitute a grant of special privilege to an individual property owner. c. Whether changed or changing conditions make the proposed rezoning desirable. According to Palm Beach County records, an auto sales business has been in existence on the subject property since 1973. In 1994, the site was approved for County Development Review Committee (DRe) review because the owner wanted to expand the size of the building. Under the County Code, auto sales is allowed in the Commercial General (CG) zoning district 'but only as a Special Exception, which is analogous to the city's conditional use process. As previously mentioned, the city has witnessed a steady trend of property owners converting their properties approved for commercial uses and lor single-family residential uses to multi-family residential uses within the last five (5) years along the Federal Highway corridor. Often this conversion serves to remove marginal, and sometimes undesirable, commercial uses. The adoption of the IPUD regulations in June 2002 provided an attractive incentive for redevelopment and infill projects on these smaller parcels in the Federal Highway corridor. Townhouses are permitted uses in the IPUD zoning district. Therefore, these two changes in current conditions serve to make the proposed rezoning desirable. d. Whether the proposed use would be compatible with utility systems, roadways, and other public facilities. The applicant submitted a traffic study and it was forwarded to the Palm Beach County Traffic Division for their review and approval. The Traffic Division reviewed the traffic study for the proposed land use amendment / rezoning and determined that the accompanying residential project is located within the County designated "Coastal Residential Exception Area" and therefore meets the Traffic Performance Standards of Palm Beach County. The accompanying site plan is expected to generate 175 new daily trips. However, this is 2,593 less trips than if the property had been built-out to its maximum potential under the current commercial land use classification. Maximum Potential Water / Sewer Traffic Development Population Demand Generation Potential Trips / day Existing Land Use 60,983 square 15 persons* 7,500 gpd* / 2,768* (Actual) feet of 7,500 gpd* commercial * Proposed Development 22 fee-simple 153 persons 9,560 gpd/ 175 townhouse 4,300 gpd units The project is estimated to require a total of 9,560 gallons of potable water per day. The City's water capacity, as increased through the purchase of up to 5 million gallons of potable water per day from Palm Beach County Utilities, would meet the projected demand for this project. 72 Page 7 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) Additionally, sufficient sanitary sewer and wastewater treatment capacity is currently available to serve the projected total of 4,300 gallons per day. With respect to solid waste, the Palm Beach County Solid Waste Authority has stated that adequate capacity exists to accommodate the county's municipalities throughout the 10-year planning period. Regarding school concurrency, the proposed project lies within Concurrency Service Area (CSA) 19 and 20. Based on the School District's adopted multipliers for a dwelling unit, the proposed development may generate two (2) elementary school students, one (1) middle school students, and two (2) high school students. The schools currently serving the area and their utilization are as follows: Schools Current Capacity Current Enrollment Utilization% Plumosa Elementary School 652 386 59% Odyssey Middle School 1742 1100 63% Atlantic High School 2500 2363 95% On November 18, 2005, the School District issued a Concurrency Determination for the site plan. The Concurrency Determination is valid for one (1) year from the date of issuance. Once a Development Order has been issued for the project, the concurrency determination will be valid for the life of the Development Order. The level of service for school concurrency is 110%. Based on existing utilization, another school would not be necessary to serve the area. The City's Fire Rescue and Police Departments have reviewed the application and determined that current staffing levels would be sufficient to meet the expected demand for services. Lastly, drainage will also be reviewed in detail as part of the review of the site plan approval, and must satisfy all requirements of the city and local drainage permitting authorities. e. Whether the proposed rezoning would be compatible with the current and future use of adjacent and nearby properties, or would affect the property values of adjacent or nearby properties. As stated above in response to Criterion "b", the proposed land use and rezoning would be consistent with the land use and zoning districts approved for the adjacent properties; to the west (Gulfstream Gardens), to the north (Bayfront, Oceanside, and Waterside), and to the south (Heritage Club). Any effects on property values would be positive and would help to increase the city's tax base. The applicant asserts that the project would be a high-quality townhouse community with excellent landscape and site design which would enhance the surrounding properties. 73 Page 8 File Number: ANEX 06-002 j LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) f. Whether the property is physically and economically developable under the existing zoning. The property is currently developed with an auto sales business. The economic viability of auto sales is questionable, considering the size of the property, the magnitude of competitors within nearby Delray Beach, and the transition to high-density residential uses that is presently occurring under the guidelines of the Federal Highwav Corridor Community RedeveloDment Plan. The applicant states that "the scarcity of developable real estate east of Federal Highway has created a great demand for residential property. Based on the analysis, a rezoning from the existing commercial zoning would enhance the area and create housing needed in the eastern communities". Staff concurs. g. Whether the proposed rezoning is of a scale which is reasonably related to the needs of the neighborhood and the city as a whole. The requested annexation, land use amendment, and rezoning presents the opportunity for quality redevelopment in a highly visible entrance corridor to the City and would also support the current trend toward greater residential uses in this area, economic revitalization, and downtown redevelopment. Likewise, the proposed zoning district (IPUD) has design guidelines and fixed requirements built into the regulations to help protect neighborhoods of single-family detached homes. The accompanying site plan demonstrates compliance with the intent of the IPUD zoning district. The proposed project would be an appropriate transitional use and intensity (from Federal Highway). h. Whether there are adequate sites elsewhere in the city for the proposed use, in districts where such use is already allowed Residential densities of 20 dwelling units per acre are permitted in the Federal Highway corridor to encourage infill development and redevelopment. There are a limited number of sites elsewhere in the city where residential development could occur at a density of 10.8 dujac; however, those sites do not offer the opportunity for redevelopment and infill development that this location affords. Nor would development of those available sites serve to promote the goals of the Community Redevelopment Agency and the Federal Highwav Corridor Community RedeveloDment Plan. CONCLUSIONS/RECOMMENDATIONS As indicated herein, this request is consistent with the intent of the Comprehensive Plan; would not create additional impacts on infrastructure that cannot be accommodated by existing capacities; will be compatible with adjacent land uses and will contribute to the overall economic development of the City. Therefore, staff finds or recommends: 1. That the requested annexation is consistent with the City's annexation policy, the property is contiguous (across the street) with properties lying within the City of Boynton Beach, and forms a reasonably compact addition to the city boundaries; therefore the annexation should be approved; 74 Page 9 File Number: ANEX 06-002 / LUAR 06-002 Name: Tuscan Villas (aka Villas at Boynton Beach) 2. That the City Commission, acting as the Local Planning Agency, finds the proposed amendments consistent with the Comprehensive Plan; 3. That the requested land use amendment and rezoning meet or exceed the criteria for review, as required in the Land Development Regulations; 4. That the proposed redevelopment plan is consistent with the VISion and recommendations of the Federal Highwav Corridor Communitv Redevelopment Plan; therefore, . 5. The requested land use amendment and rezoning be approved. If the Community Redevelopment Agency Board or the City Commission recommends conditions, they will be included as Exhibit "B". AlTACHMENTS S:\Plannlng\SHARfD\WP\PROJECfS\Tuscan V1l1as\WAR 06-002\Staff Report.doc 75 . C-3 PUD 210 105 I IPUD PUD o LOCATION MAP Tuscan Villas Exhibit "A" TURNER RD ~ r- 3: o :::a County CG Gulfstream OR ROBERTS RD County RM N + 210 420 630 840 I Feet 76 EXHIBIT "B" Conditions of ADproval Project name: Tuscan Villas (aka Villas at Boynton Beach) File number: ANEX 06-002 and LUAR 06-002 ff P Z Reference: Sta renort Memorandum & 06-034 DEPARTMENTS INCLUDE REJECT PUBLIC WORKS Comments: None UTILITIES Comments: None FIRE Comments: None POLICE Comments: None ENGINEERING DIVISION Comments: None BUILDING DIVISION Comments: None PARKS AND RECREATION Comments: None FORESTERlENVIRONMENTALIST Comments: None PLANNING & ZONING Comments: None ADDITIONAL COMMUNITY REDEVELOPMENT AGENCY COMMENTS: 77 Page 2 Tuscan Villas (aka Villas at Boynton Beach) File No.: LUAR 06-002 DEPARTMENTS INCLUDE REJECT Comments: 1. To be determined. ADDITIONAL CITY COMMISSION COMMENTS: Comments: 2. To be determined. S:\Planning\SHARED\WP\PROJECTS\Tuscan VilIas\LUAR 06-OO2\COA.doc 78 DEVELOPMENT DEPARTMENT PLANNING AND ZONING DMSION MEMORANDUM NO. PZ 06-035 STAFF REPORT TO: Chair and Members Community Redevelopment Agency Board and City Commission THRU: Michael Rumpf Planning and Zoning Director Eric Lee Johnson, AICP c:; L Planner 7' FROM: DATE: March 6, 2006 PROJECT NAME/NO: Tuscan Villas (aka The Villas at Boynton Beach) I NWSP 006-002 REQUEST: New Site Plan PROJECT DESCRIPTION Property Owner: James Paisley I Tuscan Villas at Boynton Beach, LLC Applicant: James Paisley I Tuscan Villas at Boynton Beach, LLC Agent: Wendy Tuma I Urban Design Studio Location: On east side of Federal Highway approximately 1,100 feet north of Gulfstream Boulevard (Exhibit "A") Existing Land Use: Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) Existing Zoning: Palm Beach County Commercial General (CG) Proposed Land Use: Special High Density Residential (SHDR - 20 du/ac) Proposed Zoning: Inti" Planned Unit Development (IPUD) Proposed Use: 22 townhouse-style condominium units Acreage: 1:1.341 acres Adjacent Uses: North: Developed commercial (Gulfstream Carpet) designated with Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) land use and zoned Palm Beach County Commercial General (CG); 79 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 2 South: Developed commercial (licensed as Supervised Construction Services), designated with Palm Beach County Commercial High, with an underlying Medium Residential S units per acre (CHIS) land use and zoned Palm Beach County Commercial General (CG); East: Developed single-family residential lots designated with Palm Beach County Medium Residential, 5 units per acre (MR-S) land use and zoned Palm Beach County Single-family Residential (RS); and West: Right-of-way for Federal Highway, then farther west is partially developed commercial property recently approved for townhouse units (Gulfstream Gardens) designated with Special High Density Residential (SHDR) land use and zoned Planned Unit Development (PUD), PROPERTY OWNER NOTIFICATION Owners of properties within 400 feet of the subject site plan were mailed a notice of this request and its respective hearing dates. The applicant certifies that they posted signage and mailed notices in accordance with Ordinance No. 04-007. Site Characteristic: The subject property is comprised of severa/lots that are currently located within a small enclave of unincorporated Palm Beach County. If annexed, the property would lie within Study Area V of the Federal Highway Corridor Redevelopment Plan. The survey shows the parcel is currently developed with one a (i)-story commercial building, wood and chain-link fences, a concrete sign, and asphalt parking areas. No ground elevations were shown on the survey. It should be noted that a site inspection revealed that the building had been recently demolished. BACKGROUND Proposal: Wendy Tuma of Urban Design Studios, agent for Tuscan Villas at Boynton Beach, LLC is proposing a new site plan for 22 townhouse-style condominium units. As previously mentioned, the parcel, if successfully annexed would be located within Study Area V of the Federal Highway Corridor Redevelopment Plan. The Redevelopment Plan allows for higher residential densities within this area, above the five (S) dwelling units per acre currently allowed by Palm Beach County CHIS land use classification. Under the CHIS land use classification, the maximum allowable project density would have resulted in a maximum of six (6) dwelling units. However, in order to achieve a higher density, the developer is requesting to reclassify the land use from Palm Beach County CHIS to Special High Density Residential (SHDR) and to rezone from Palm Beach County Commercial General (CG) to Infill Planned Unit Development (IPUD). The SHDR land use classification allows up to 20 dwelling units per acre, which would equate to a total of 26 units. The project proposes 22 units, resulting in a density of 16.4 dwelling units per acre. Townhouses are permitted uses in the IPUD zoning district. The project would be completed in one (1) phase. 80 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 3 Concurrency: Traffic: Utilities: ANALYSIS A traffic study was sent to the Palm Beach County Traffic Division for concurrency review in order to ensure an adequate level of service. The Palm Beach County Traffic Division determined that the proposed redevelopment project is located within the county designated "Coastal Residential Exception Area", and therefore, meets the Traffic Performance Standards of Palm Beach County. No building permits are to be issued after the 2010 build-out date (see Exhibit "c" - Conditions of Approval). The County traffic concurrency approval is subject to the Project Aggregation Rules set forth in the Traffic Performance Standards Ordinance. The City's water capacity, as increased through the purchase of up to 5 million gallons of potable water per day from Palm Beach County Utilities, would meet the projected potable water for this project (project estimated to require a total of 9,560 gallons per day). Local piping and infrastructure improvements may be required, especially on the water delivery system for the project, depending upon the final project configuration and fire-flow demands. These local improvements would be the responsibility of the site developer and would be reviewed at the time of permitting. Sufficient sanitary sewer and wastewater treatment capacity is currently available to serve the projected total of 4,300 gallons per day, subject to the applicant making a firm reservation of capacity, following approval of the site plan (see Exhibit "Cft - Conditions of Approval). Police I Fire: Staff reviewed the site plan and determined that current staffing levels would be sufficient to meet the expected demand for services. Drainage: Conceptual drainage information was provided for the City's review. The Engineering Division has found the conceptual information to be adequate and is recommending that the review of specific drainage solutions be deferred until time of permit review. All South Florida Water Management District permits and other drainage related permits must be submitted at time of building permit (see Exhibit "Cft - Conditions of Approval). School: The School District of Palm Beach County confirms that adequate capacity exists to accommodate the proposed 22 dwelling units. The project is located within Concurrency Service Area (CSA) #19 and #20. Driveways: The project proposes one (1) main point of ingress / egress on Federal Highway. The civil drawing shows that the opening would be dimensioned 24 feet in width. The egress lane would allow for right-turn (northbound) traffic movement onto Federal Highway. No left-turn (southbound) traffic movement is proposed on Federal Highway due to the presence an existing landscaped median. The street system internal to the development is generally proposed in a circuitous configuration. The residents would access their garages via these drive aisles. The site plan shows that all two (2)-way drive aisle lanes would be 22 feet in width, 81 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 4 which would conform to current engineering standards. Much of the underground infrastructure (i.e. potable water lines, sanitary sewer lines) would be placed underneath the street network. In most areas of the site, the sidewalks are proposed separately from the street system. However, a sidewalk is proposed at only one (1) side of the project's main entrance. It was purposely designed this way in order allow for extra landscaping on the opposite side of the front entrance drive. The sidewalk, proposed across the main entrance drive would be made of brick pavers. Staff reviewed the internal pedestrian connections and found them to be adequate because the project is small and compact. However, it should be noted that the front entrance of the project was designed in such a way that it would not be able to accommodate security gates, either now or in the future due to the insufficient space for vehicle stacking from Federal Highway (see Exhibit "C" - Conditions of Approval). Parking Facility: Two (2) and three (3) bedroom dwelling units require two (2) parking spaces per unit. The project proposes 22, three (3)-bedroom units and a small recreation facility. Therefore, based upon the above referenced number of units and the amenity, the project requires a total of 44 parking spaces. The site plan shows that each unit would have a two (2)-car garage, which would thus equate to providing 44 parking spaces. The size of each unit would vary but generally, each garage would be dimensioned 19 feet in width by 20 feet in depth. The plan also proposes four (4) gO-degree parking spaces. According to the site plan, the gO-degree parking stalls would be dimensioned nine (g) feet in width by 18 feet - six (6) inches in length. Combining the garage spaces and gO-degree spaces, the site plan would provide for a total of 48 parking spaces or an excess of four (4) parking spaces. It should be noted that one (1) of the gO-degree parking spaces shall be converted to a handicap accessible space in order to meet ADA disability requirements; this cO(lversion would occur at the time of permitting. Landscaping: The site plan tabular data indicates that 0.28 acres or 21 % of the site would be pervious surface. The plant list (sheet 1 of 5) indicates the landscape plan would provide a total of 31 canopy trees, all of which would be native. The plant list indicates that 49 or 70% of the palm trees would be native. Also, the landscape plan would contain 2,303 shrubs / groundcover plants, of which 1,201 (52.1%) would be native. The tree species would include the following: Live Oak, East Palatka Holly, Tree Ligustrum, Purple Glory Tree, Alexander palm, Cabbbage palm, and Green Coconut Malayan palm. The dwelling units are proposed as townhouse- style condominium units and staff understands that the lands remaining outside the building footprint would be under the control of the Homeowner's Association, Staff favors common ownership of landscaped areas because they are more likely to be maintained properly with less likelihood of individual unit owners removing trees within the buffer areas. With regards to aesthetics, the applicant agrees to install Redtip Cocoplum hedges around utility boxes and structures that are not currently known or shown on the plan at this time. The colored renderings of the West (view from Federal Highway) and East (view from east) elevations illustrate how the landscaping would soften the appearance of the townhouse buildings. The landscape plan shows that the western landscape buffer (adjacent to Federal 82 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 5 Highway) would be at least seven (7) feet wide at its narrowest point. The landscape plan shows that this buffer would consist of East Palatka Holly, Green Malayan Coconut palm, Gold Mound Duranta, Dwarf Indian Hawthorne, and a row of Redtip Cocoplum hedges. It appears that most of the trees would be installed at a spacing of one (1) tree per 22 feet. Each townhouse unit proposed along Federal Highway would have a sidewalk that directly links to the sidewalk on Federal Highway. A small courtyard is proposed in front of each along Federal Highway. It would be enclosed with a four (4)-foot high black picket fence. The site plan shows that the south landscape buffer (adjacent to the supervised construction service trailers) would be at minimum, five (5) feet in width at its narrowest point. The landscape plan proposes the following plant material: Live Oak, East Palatka Holly, Cabbage Palm trees, Spanish Stopper, Silver Buttonwood and Redtip Cocoplum hedges. The site plan shows that the north landscape buffer (adjacent to Gulfstream Carpet) would be five (5) feet in width at its narrowest point. The landscape plan proposes the following plant material: East Palatka Holly, Cabbage palm, Gold Mount Duranta, Dwarf Fakahatchee Grass, Xanadu Philodendron, Wax Jasmine, and a row of Spanish Stopper. The site plan shows that the east landscape buffer (adjacent to the single-family residential neighborhood) would be 10 feet wide at its narrowest point. It would contain the following plant material: Live Oak, Cabbage palm, East Palatka Holly, Dwarf Fakahatchee Grass, Silver Buttonwood, and Redtip Cocoplum hedges. A six (6) foot high wall is proposed a few feet from the east property line; its location would allow for hedges to grow on both sides. The wall would provide for a lower- level buffer while the trees planted nearby would provide for an upper-level buffer. A sidewalk is proposed just east of the southeastern building and encroaches into the east landscape buffer. Staff recommends relocating this sidewalk slightly to the west in order to increase the width of the planting area within the landscape buffer (see Exhibit "c" - Conditions of Approval). Building and Site: As previously mentioned, the applicant is requesting to rezone the property to the IPUD zoning district at a project density of 16.4 dwelling units per acre. The maximum density allowed by the Special High Density Residential land use classification is 20 dwelling units per acre. The project's 22 dwelling units are proposed within five (5) separate buildings, namely Buildings "A" through "E". Each building would contain a varying number of dwelling units, ranging from three (3) units to six (6) units. The floor plans show the proposed size and configuration of each unit. The project proposes four (4) model types, ranging from 1,947 square feet 2,513 square feet of "air-conditioned" space. No individual swimming pools or screened enclosures are proposed or shown on the plans. Staff recommends that their omission should be noted as such within the Home Owners Association documents. Likewise, the developer does not intend to screen-in the balconies (see Exhibit "c" - Conditions of Approval). 83 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 6 The IPUD zoning district allows buildings to reach a maximum height of 45 feet. However, a lesser building height could be imposed if compatibility with the adjacent properties would be in jeopardy. The code defines building height as follows: The vertical distance in feet measured from the lowest point at the property line of an adjacent property or from the minimum base flood elevation as established by FEMA, whichever is highest, to the highest point of the roof for flat roofs, to the deck line for mansard roofs and parapet roofs with parapets less than five (5) feet in height. Gable and hip roof heights shall be measured to the midpoint between the eaves and the ridge. Despite the site plan tabular data indicating 40 feet in height, the elevations show the buildings would be 34 feet - six (6) inches in height, measured at the mid-point of the pitched roof. All buildings would comply with the height limitation of the IPUD zoning district. At the time of permitting, the site plan tabular data shall be revised to indicate the correct building height (see Exhibit "CIf - Conditions of Approval). It should be noted that the peak of the roof would be 39 feet - five (5) inches. However, as previously mentioned the abutting properties to the east are zoned Palm Beach County RS and developed with one (i)-story, single-family detached homes. The County RS zoning district allows a maximum building height of up to 35 feet (at mid-point of roof). As previously mentioned, it was the developer's intent to construct three (3)-story buildings along the east property line but staff warned that the proposed building height would be a critical design element to consider when requesting to rezone to the IPUD zoning district. Staff suggested that the applicant reduce the building height of those buildings proposed adjacent to the single-family homes, from three (3) stories to two (2) stories. In heeding staff's suggestions, the plans were modified so that the buildings, originally proposed along the east property line, were substituted with a drive aisle that is currently shown along much of the east side of the site. This substitution was done to maximize the setbacks between buildings on the subject property from homes on the adjacent single-family lots. In addition, the easternmost portion of each townhouse building (adjacent to the single-family homes) are proposed at two (2)- stories rather than three (3)-stories. The elevations show that the mid-point of the two (2)-story portion would be approximately 24 feet in height. Staff opines that the current configuration of the buildings represent a sufficient compromise to improve compatibility between the subject property and the abutting properties to the east to mitigate the height discrepancy. Staff also feels that decreasing the height of the east fa~ade of these buildings would provide an equitable transition between the maximum height of 35 feet allowed in the adjacent single-family neighborhood and the 45-foot height allowed in the IPUD district. The IPUD zoning district contains no specific minimum building setback requirements other than mirroring the setbacks of adjacent zoning districts. However, a structure on the perimeter of an IPUD project that is adjacent to an existing single-family neighborhood must adhere to additional setback requirements. The IPUD regulations require an additional one (1) foot building setback for each one (1) foot in building height that exceeds 30 feet. In this case, the proposed height of the condominium building would be slightly more than 34 feet tall. Therefore, this would equate to an additional required setback of four (4) feet (in conjunction with mirroring the setback of the abutting properties). The 84 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 7 properties to the east are located in an enclave of unincorporated Palm Beach County, zoned County RS, and directly abut the subject site. These lots have been developed with single-family detached homes. The IPUD zoning regulations specifically addresses compatibility requirements with these types of developments. The rear setback of the County RS zoning district is 15 feet; so therefore, the project should have a rear building setback comparable to 15 feet. However, it should be noted that the city may grant some relief from the required setbacks provided that screening or other barriers are provided along the perimeter. Along the east property line, the site plan proposes a building setback that ranges between a minimum of 11.7 feet to a maximum of 35.2 feet. As previously mentioned, a buffer wall is proposed along the east property line in conjunction with a multitude of trees and shrubs that would provide the necessary buffering between the townhouses and the single-family neighborhood. Likewise, the easternmost portion of each townhouse building (adjacent to the single-family homes) are proposed at two (2)-stories rather than three (3)-stories. The developer provided a cross-section drawing, labeled "Section A-A", which shows a townhouse building and how it compares with the adjacent single-family detached homes. The detail indicates the existing / proposed setbacks, building heights, and landscape material. The property to the north of the subject property is zoned County CG and has been developed with a commercial use (Gulfstream Carpet). The County CG zoning district requires a 15-foot side setback. The proposed townhouse buildings would be setback 10.3 feet from the north property line. This difference in building setbacks between the subject project and the commercial property to the north is consistent with other residential infill projects reviewed by the City. Similarly, the property to the south is also zoned County CG. The townhouse buildings would be setback between five (5) feet and nine (9) feet. Like the north setback against commercial zoning, the reduced building setback from the south property line is consistent with other approved projects. For this new site plan, all proposed building setbacks are consistent with the existing setbacks within the surrounding neighborhoods and meet the intent of the IPUD zoning district setback regulations. The main recreation area would be located at the center of the site, centrally located to all residents. It would include a swimming pool, cabana building, decorative water fountain, and bicycle racks. The recreation area is proposed large enough to meet the IPUD's special requirement for usable open space. The elevations do not indicate the actual roof height of the cabana building, but depicts it as a one (l)-story structure. When scaled, it appears to be approximately 13 feet - six (6) inches in height. The photometric plan demonstrates that lighting levels at the recreation area would be adequate and not "spill" over onto adjacent properties. Design: The proposed buildings and clubhouse resemble a modern Spanish-Mediterranean design with textured stucco finish, tile inserts, simulated stone band and sills, cast stone baluster and panels, rounded-windows, WOOd-panel front doors, clear glass 85 Staff Report - Tuscan Villas (NWSP 06-002) Memorandum No PZ 06-035 Page 8 with bronze finish aluminum frames, and S-tile roof. The project proposes multi- colored buildings consisting of the following Porter paints and color schemes: Color code Paint Name Color Location Scheme # 1 #6805-1 Pale Honey Light tan Main wall #7195-1 White Umber White Main wall #6808-2 Dusty Airport Dark tan Main wall Scheme #2 #6115-2 Pale Coral Light peach Main Wall #6118-3 Sun Coral Peach Main wall #7195-1 White Umber White Main wall Scheme #3 #6169-2 Bud White Light yellow Main wall #6172-4 Sun Amber Yellow Main wall #7195-1 White Umber White Main wall The elevations of the cabana building show that it would have the same roof style, exterior finish, and paint colors as that of the townhouse buildings. The developer provided staff with an illustration of the proposed outdoor freestanding lighting fixture that would be used throughout the recreation area. The Pole Detail indicates it would be a Sky Cast decorative pole, 15 feet in height and made of concrete. No pole color was indicated on the illustration. Similar to other recently approved townhouse projects, the buildings proposed along Federal Highway would have their front doors oriented towards the street. Staff endorses this design characteristic of how Building "A" and Building "B" engage the main street while Building "C" and Building "0" are oriented towards the pool area. Signage: The project proposes a subdivision identification sign, located on the front fa<;ade of the recreation building, visible to motorists when entering the site. The Entry Sign elevation (sheet A5.1) shows that "The Villas at Boynton Beach" sign would be externally lit and made of aluminum pin letters of brushed gold color. The letters would be centered between two (2) cast stone accent features. RECOMMENDATION: Staff has reviewed this request for new site plan approval and is recommending approval, contingent upon the successful request for annexation (ANEX 06-002), land use amendment / rezoning (LUAR 06-003), and subject to satisfying all comments indicated in Exhibit "C" - Conditions of Approval. Any additional conditions recommended by the Board or City Commission shall be documented accordingly in the Conditions of Approval. S:\Planning\SHARED\WP\PROJECfS\Tuscan Villas\NWSP 06-002\Staff Report.doc 86 LOCATION MAP Tuscan Villas Exhibit "A" C-3 PUD . IPUD PUD 200 100 0 I TURNER RD ~ r- 3: c ;:0 County CG ROBERTS RD Gulfstream OR County RM N W+E S 200 400 600 800 'Feet 87 ... 1 in. ;: 97.4 feet Exhibit 88 1'"'1~,,,,,., IIDIIIIIIIIij I'IIID!!!I!!!!:'I '!T/~'il ~III! " ''E! !""",':, IDIIIIIIIIIIIIl P1111!IL'l!I!!! I !i'!"5I~ ,ru 'I ." 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BeEl/1 , '\ ~',::.':; "/~~~ /\.1 -,-' , \ . \ ! \ \ \\ \ \ i \ \ \ \ \ ! . ; >l~_' i EXHIBIT "C" Conditions of Approval Project name: Tuscan Villas File number: NWSP 06-002 Reference: 3rd review plans identified as a New Site Plan with a February 28.2006 Planning & Zoning date ki stamp mar nil, DEPARTMENTS INCLUDE REJECT PUBLIC WORKS - General Comments: PUBLIC WORKS - Traffic Comments: 1. At the time of permitting, add stop bares), stop sign(s), and double yellow lane separators on the north and south side of the main entrance into the development (on the internal road) 2, Insufficient space is provided to allow gating of the community, now or in the future, 3. Add a handicap space adjacent to the pool area, ENGINEERING DIVISION Comments: 4. Lighting is only required for public parking, The street lighting IS not required, just recommended, 5, Sight triangle clearance two (2) feet - six (6) inches to eight (8) feet clearance, The sight triangles need to be shown on the landscape plans at the time of permitting - use FDOT standards. UTILITIES Comments: 6. The City's water capacity, as increased through the purchase of up to 5 million gallons of potable water per day from Palm Beach County Utilities, would meet the projected potable water for this project (project estimated to require a total of 9,560 gallons per day). Local piping and infrastructure improvements may be required, especially on the water delivery system for the project, depending upon the final project configuration and fire-flow demands, These local improvements would be the responsibility of the site developer and would be reviewed at the time of permitting. Sufficient sanitary sewer and wastewater treatment capacity is currently available to serve the projected total of 4,300 gallons per day, subject to the applicant making a firm reservation of capacity, following approval of the site plan, 96 COA.doc 03/03/06 2 DEPARTMENTS 7, At the time of permitting, all utility easements shall be shown on the rectified site plan and landscaping drawings so that staff can determine which appurtenances, trees or shrubbery may interfere with utilities, In general, palm trees will be the only tree species allowed within utility easements. Canopy trees may be planted outside of the easement so that roots and branches will not impact those utilities within the easement in the foreseeable future. LDR Chap. 7,5, Art. I, Sec. 18.1 give public utilities the authority to remove any trees that interfere with utility services, either in utility easements or public ri2hts-of-way. 8. Palm Beach County Health Department permits will be required for the water and sewer systems servin2 this project (CODE Sec, 26-12), 9. At the time of permitting, fire flow calculations will be required demonstrating the City Code requirement of 1,500 g.p,m. (500 g,p.m. on certain residential developments) with 20 p,s.i. residual pressure as stated in LDR Chap, 6, Art, N, Sec, 16, or the requirement imposed by insurance underwriters, whichever is greater (see CODE Sec. 26-16(b)), A single 6- inch (assumed) stub line connection does not yield this requirement. Consider looping a new 8-inch water main back into the existing 8-inch in Federal Highway, with routing along side of Unit #16 (or ideally in the reolacement of Unit #16). 10, CODE Sec, 26-34(E) requires that a capacity reservation fee be paid for this project either upon the request for the Department's signature on the Health Department application forms or within seven (7) days of site plan approval, whichever occurs first. This fee will be determined based upon final meter size, or expected demand. The new time line requires payment within seven (7) days. 11. Comprehensive Plan Policy 3.C.3.4, requires the conservation of potable water. City water may not, therefore, be used for irrigation where other sources are readily available, As the project is close to the Intracoastal, if brackish water is encountered, then city water may be approved for landscape irri2ation. 12, Water and sewer lines to be owned and operated by the City shall be included within utility easements. Please show all proposed easements on the engineering drawings, using a minimum width of 12 feet. The easements shall be dedicated via separate instrument to the City as stated in CODE Sec. 26-33(a), Insufficient information has been provided regarding manhole depth to determine final sanitary sewer utility easement widths, Sanitary easements are assumed to be twice the depth of the manhole (deeper) depth. A lO-foot separation is required between water and sewer in shared easements. The minimum easement width is 12 feet. An administrative waiver will be required for variations to the separation widths, 97 INCLUDE REJECT COA.doc 03/06/06 3 DEPARTMENTS INCLUDE REJECT 13. A building permit for this project shall not be issued until this Department has approved the plans for the water and/or sewer improvements required to service this project, in accordance with CODE Sec, 26-15, FIRE Comments: None POLICE Comments: None BUILDING DIVISION Comments: 14. The height and area for buildings or structures of the different types of construction shall be governed by the intended use or occupancy of the building, and shall not exceed the limits set forth in Table 503 of the 2004 FBC. 15. Buildings, structures and parts thereof shall be designed to withstand the minimum wind loads of 140 mph. Wind forces on every building or structure shall be determined by the provisions of ASCE 7, Chapter 6, and the provisions of 2004 FBC, Section 1609 (Wind Loads), Calculations that are signed and sealed by a design professional registered in the state of Florida shall be submitted for review at the time of permit application, 16. Every building and structure shall be of sufficient strength to support the loads and forces encountered per the 2004 FBC, Section 1607 and Table 1607,1. Indicate the live load (pst) on the plans for the building design. 17. Buildings three-stories or higher shall be equipped with an automatic sprinkler system per F,S, 553,895. Fire protection plans and hydraulic calculations shall be included with the building plans at the time of permit application, 18. At time of permit review, submit signed and sealed working drawings of the proposed construction. 19. A water-use permit from SFWMD is required for an irrigation system that utilizes water from a well or body of water as its source, A copy of the permit shall be submitted at the time of permit application, F.S. 373.216. 20. If capital facility fees (water and sewer) are paid in advance to the City of Boynton Beach Utilities Department, the following information shall be provided at the time of building permit application: A The full name of the project as it appears on the Development Order and the Commission-approved site plan. 98 COA.doc 03/03/06 4 DEPARTMENTS INCLUDE REJECT B If the project is a multi-family project, the building number/s must be provided, The building numbers must be the same as noted on the Commission-approved site plans, C The number of dwelling units in each building, D The number of bedrooms in each dwelling unit. E The total amount paid and itemized into how much is for water and how much is for sewer. (CBBCO, Chapter 26, Article n, Sections 26-34) 21. At time of permit review, submit separate surveys of each lot, parcel, or tract. For purposes of setting up property and ownership in the City computer, provide a copy of the recorded deed for each lot, parcel, or tract. The recorded deed shall be submitted at time of permit review, 22. At time of building permit application, submit verification that the City of Boynton Beach Parks and Recreation Impact Fee requirements have been satisfied by a paid fee or conveyance of property, The following information shall be provided: A A legal description of the land, B The full name of the project as it appears on the Development Order and the Commission-approved site plan. C If the project is a multi-family project, the building number/s must be provided. The building numbers must be the same as noted on the Commission-approved site plans, D The number of dwelling units in each building. E The total amount being paid, (CBBCO, Chapter 1, Article V, Section 3(t)) 23. Pursuant to approval by the City Commission and all other outside agencies, the plans for this project must be submitted to the Building Division for review at the time of permit application submittal. The plans must incorporate all the conditions of approval as listed in the development order and approved by the City Commission. 24, The full address of the project shall be submitted with the construction documents at the time of permit application submittal. If the project is multi- family, then all addresses for the particular building type shall be submitted, The name of the project as it appears on the Development Order must be noted on the buildin2 Permit application at the time of application submittal. PARKS AND RECREATION Comments: 25. Park Impact Fee - 22 single-family, attached units @ $771.00 = $16,962 due prior to the issuance of the first permit. 99 COA,doc 03/03/06 5 I DEPARTMENTS INCLUDE REJECT FORESTER/ENVIRONMENT ALIST Comments: 26. The Landscape Architect should tabulate the total diameter inches of existing trees on the site. The tabular data should show the individual species diameters of trees proposed to remain in place, be relocated throughout the site, or removed / replaced on site. All desirable species (Live Oak, Mahogany) must be relocated rather than removed if the trees are in good health. These trees should be shown by a separate symbol on the landscape plan sheets 3 of 3. [Environmental Regulations, Chapter 7.5, Article I See, 7,D.p.2. PLANNING AND ZONING Comments: 27. Approval of this project is contingent upon the approval of the accompanying request for annexation (ANEX 06-002) and land use amendment / rezoning (LUAR 06-002). 28. The Palm Beach County Traffic Division determined that the proposed redevelopment project is located within the county designated "Coastal Residential Exception Area", and therefore, meets the Traffic Performance Standards of Palm Beach County. No building permits are to be issued after the 2010 build-out date. 29. No individual swimming pools or screened enclosures are proposed (or shown on the plans) and its omission should be noted as such on the plans and within the Home Owners Association documents. Likewise, the developer does not intend to screen-in the balconies either. 30. The buffer wall / fence may not exceed six (6) feet in height (Chapter 2, Section 4.J, 1.). The decorative caps cannot exceed seven (7) feet in height. 31. At the time of permitting, the site plan tabular data shall be revised to indicate the correct buildin~ hei~ht. 32. All slgnage IS subject to review and approval of the Community Redevelopment Agency and City Commission. The subdivision identification sign face may not exceed 32 square feet in area (Chapter 21, Article IV, Section I,D), 33. Staff recommends relocating the utilities (proposed along the lO-foot wide east landscape buffer) four (4) feet to the west so that the easement does not overlap with the landscape buffer thereby allowing canopy trees within said buffer. 100 COA.doc 03/03/06 6 DEPARTMENTS INCLUDE REJECT ADDITIONAL COMMUNITY REDEVELOPMENT AGENCY BOARD COMMENTS: Comments: 34. To be determined, ADDITIONAL CITY COMMISSION COMMENTS: Comments: 35, To be determined, MWRlelj S:\Planning\SHARED\WP\PROJECTS\Tuscan Villas\NWSP 06-002\COA.doc 101 DEVELOPMENT ORDER OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA PROJECT NAME: Tuscan Villas (aka Villas at Boynton Beach) APPLICANT'S AGENT: Wendy Tuma / Urban Design Studio APPLICANT: James Paisley / Tuscan Villas at Boynton Beach, LLC APPLICANT'S ADDRESS: 217 Fortuna Drive Palm Beach Gardens, FL 33401 DATE OF HEARING RATIFICATION BEFORE CITY COMMISSION: April 4, 2006 TYPE OF RELIEF SOUGHT: Request new site plan approval to construct 22 townnouse-style condominium units on a 1.341-acre parcel in the IPUD Infill Planned Unit Development zoning district LOCATION OF PROPERTY: On the east side of Federal Highway, approximately 1,100 feet north of Gulfstream Boulevard (see Exhibit "A" - Location Map) DRAWING(S): SEE EXHIBIT "B" ATTACHED HERETO. THIS MATTER came on to be heard before the City Commission of the City of Boynton Beach, Florida on the date of hearing stated above, The City Commission having considered the relief sought by the applicant and heard testimony from the applicant, members of city administrative staff and the public finds as follows: 1. Application for the relief sought was made by the Applicant in a manner consistent with the requirements of the City's Land Development Regulations. 2. The Applicant HAS HAS NOT established by substantial competent evidence a basis for the relief requested. 3. The conditions for development requested by the Applicant, administrative staff, or suggested by the public and supported by substantial competent evidence are as set forth on Exhibit "C" with notation "Included", 4, The Applicant's application for relief is hereby _ GRANTED subject to the conditions referenced in paragraph 3 hereof. DENIED 5. This Order shall take effect immediately upon issuance by the City Clerk. 6, All further development on the property shall be made in accordance with the terms and conditions of this order. 7. Other DATED: City Clerk S:IPlanningISHARED\WPIPROJECTS\Tuscan VillaslNWSP 06-002\DQ,doc 102 I CIJjJ ii I fn!IJi,-; I" 'I ;ft H;~. Jif,i.i!! I · l\J , & 6 .Il!~ I' H1t i ! ~ ~ -ildJ illlllllilllill ! I ~ ___w. ~:; ~S I ~ H '.;", i ~ ~' VI i ~g~~~ ~l,~, nul i"}U;ti ! ~Ls~ S ~ ~~~~I~ ~ e;l;e~ ~~~ ~~~~ ~ ,,1',,!;1 -'L ""~.. >; ?l~<S~ ~ "ddd_ < j m n ~ ~nl [. ~, tl ~ ~hU I~u ~!i !ji~l~ tj ~~~~~ ~~~~ ~~~ ~~ ~~ '-" hf~f" g~g ~3 !:o \ \ \ \ \ \ \ \ \ ::: \ \ \ \ \ \ \ ::; ueld ~uawdOla^aa a~!s I I lt~ ep!JOI~ 'LI:Jeag UO:Ju~og:J.O ~:J!::> ~ ~ II ~ LI:>eag uO:Ju,(og :Je sell!^ aLl.l ~.!! ~ n e ~ ~ ~ ~!..,~~B:i ~t~~t ~ i:l ~, ~..g" !!iN'~~~~:: U~"',af.l~ =u .~^'l!' , , ; 0" s~ ~~ ~I... ;,;; ~ !ill " ;' " U ~II~U ~ ! 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PZ 06-037 TO: Chair and Members Community Redevelopment Agency Board Michael RU~~~ Director of Planning and Zoning Ed Breese ~ Principal Planner THRU: FROM: DATE: February 10, 2006 PROJEcr: Seaview Park Club / SPTE 06-002 REQUEST: Site Plan Extension PROJECT DESCRIPTION Property Owner: Multiple owners (see file)/lennar Homes - contract purchaser Applicant: Andy MacGregor of lennar Homes location: 1620 North Federal Highway (see Exhibit "A" -location Map) Existing land Use/Zoning: Special High Density Residential (SHDR - 20 du/ac)/ Infill Planned Unit Development (IPUD) Proposed land Use/Zoning: No change Proposed Use: Site Plan Time Extension for a 64 unit, three (3) story townhouse project. Acreage: 3.756 acres (163,611.36 square feet) Adjacent Uses: North : To the northwest, developed multi-family rental complex (Manatee Bay) designated local Retail Commercial (lRC) and Community Commercial (C-3); to the northeast designated High Density Residential (10,8 du/ac) and zoned Multi-family Residential (R-3); South: To the south along Federal Highway, developed commercial strip center (Yachtsman's Plaza) designated local Retail Commercial (lRC) and zoned Community Commercial (C-3); farther east, developed single-family residential (Yachtsman's Cove) designated low Density Residential (4,84 du/ac) and zoned Single Family Residential (R-1-AA); East: Right-of-way for Intracoastal Waterway; and West: Rights-of-way for U.S. 1 and the Florida East Coast Railroad, 129 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetin!! Dates Turned into CRA Office Meetin!! Dates CRA Office D January 10, 2006 December 27, 200S (Noon,) D July 11,2006 June 27,2006 (Noon) February 14, 2006 January 31,2006 (Noon) D August 8, 2006 July 2S, 2006 (Noon) . March 14,2006 February 28, 2006 (Noon) D September 12,2006 August 29, 2006 (Noon) D April II. 2006 March 28. 2006 (Noon) D October 10, 2006 September 26, 2006(Noon) D May 9, 2006 April 2S, 2006 (Noon) &I November 14,2006 October 31. 2006 (Noon) '. ,.~ D June 13, 2006 May 2S, 2006 (Noon) 111 December 12, 2006 November 28, 2006 (Noon) NATURE OF AGENDA ITEM D Consent Agenda D Director's Report D Old Business D New Business . Legal D Future Agenda Items D Other Item DATE: March 7, 2006 SUBJECT SUMMARY PARAGRAPH: The Seaview Park Club received site plan approval on February 15, 2005 and is requesting a one-year Site Plan Time Extenstion through February 15, 2007. RECOMMENDATION: Approve site plan time extension with the following conditions: 1. Proceed with demolition within 30 days of real estate closing, 2, Installation of overhead utilities underground along Federal Highway. FISCAL IMPACT/FUNDING SOURCE: None, ALTERNATIVES: Do not approve site plan time extension, CRA STAFF: .' /~. --,'" .'>c#~ VIVian L. Brooks . eRA Planning Director T:\DEVELOPMENT\Seaview Park Club\agendasiteplanext,doc 128 Page 2 Memorandum No, PZ 06-037 PROPERTY OWNER NOTIFICATION Owners of properties within 400 feet of the subject site plan time extension were mailed a notice of this request and its respective hearing dates, The applicant certifies that they posted signage and mailed notices in accordance with Ordinance No. 04-007, BACKGROUND Mr. Andy MacGregor, representative for Lennar Homes, Incorporated, is requesting a site plan time extension for the construction of 64, three (3) story townhouse dwelling units. This site plan was originally approved by the City Commission on February 15, 2005 along with the corresponding request for land use change and rezoning (LUAR 04-010) to Special High Density Residential (SHDR) land use and Infill Planned Unit Development (IPUD) zoning district. Under the Special High Density Residential (SHDR) land use category, the maximum allowable density would have allowed a total of up to 75 dwelling units at a density of 20 dwelling units per acre. The site plan allowed for an additional five (5) dwelling units over the number of mobile homes that previously occupied the site. During site plan review, the applicant continued to meet with the Homeowner Association (HOA) abutting the site to arrive at a mutually agreeable landscape buffer and planting scheme as well as revisions to the building facades and height. Condition of Approval #62 provided an opportunity for the applicant to revise the elevations and proVide the HOA five (5) days advance notice of formal submittal to the City, in order to allow HOA review of said elevation modifications, The revisions, submitted as a Minor Modification, reduced the number of dwelling units from 69 to 64 and modified the design from the condominium appearance to a townhouse concept, within the same building footprints. The modification was endorsed by the HOA, eliciting the following comments; "We are particularly pleased with the change from a condominium ownership to townhouse design, In addition to being attractive, the layout of each unit places only bedrooms on the third floor. I believe having bedrooms on the top floor rather than kitchens and living rooms will make it much less intrusive on the neighbors below". Staff approved the Minor Site Plan Modification on April 25, 2005. ANALYSIS Lennar Homes, Inc. is requesting a one (1) year time extension to their original approval date of February 15, 2005. If granted the site plan approval would be extended to February 15, 2007. All project conditions of approval pertaining to the original Site Plan and Minor Modification would still apply, According to Chapter 4, Section 5 of the Land Development Regulations, "the applicant shall have one (1) year to secure a building permit from the Development Department". It states further that the City Commission may extend the approval for one (1) year provided that the applicant has filed a request for a time extension prior to the expiration of the original approval. In this case, the applicant has met the requirement. The Planning & Zoning Division received the application for a site plan time extension on February 3, 2006, prior to the expiration date. In support of their request, Lennar Homes submitted a list of justifications. They note that they have complied with the condition of approval requiring the building elevations be modified, as evidenced by the Minor Modification approval, the Capacity Reservation fees for utilities have been paid in full, an Environmental Resource Permit was Issued by the South Florida Water Management District on January 11, 2006 and a FOOT Driveway Permit was renewed on August 17, 2005. Additionally, the bid process for a demolition contractor has been completed and the contractor chosen, and a Preliminary Plat has been submitted to the City Engineer and comments received. The re-submlttal based upon those comments is being prepared. Also, Paving, Grading and Drainage plans have been submitted to the City Engineer and comments received. The re-submittal based on those comments is currently underway, Water and Sewer 130 Page 3 Memorandum No. PZ 06-037 drawings have been submitted to the City Engineer and responses to the comments are being re- submitted. Lastly, Lennar has contracted with FP&L for $10,191 to remove the overhead power lines and poles located on the property. The applicant also notes that the park owner issued the required eviction notices to the mobile home park residents and several residents filed for relief with the courts. Throughout this period, Lennar states that they continued to seek the necessary governmental permits to construct the project. The court complaint was voluntarily dismissed on November 14, 2005, as a result of a settlement agreement between the owners and park residents, Lastly, the Homeowner's Association abutting the project has requested that the developer place the overhead utilities along Federal Highway underground, Although not part of the original approval, the developer (Lennar) understands that the project immediately south of Seaview (Yachtsman's Cove) will be placing the overhead utilities underground with their redevelopment project. As such, Lennar agrees to have the lines place underground in a coordinated effort with this adjacent project. RECOMMENDATION Staff recommends approval of this request for a one (l)-year time extension of the Site Plan as modified through the Minor Modification approval. This recommendation is based on the "good faith" effort shown to build the project, the degree of difficulty associated with all of the permitting agencies associated with a project of this nature and the fact that no changes have been made to the Land Development Regulations that would impact this project since it was approved in 2005. All conditions of approval included in the initial Development Order and Minor Site Plan Modification must still be satisfactorily addressed during the building permit process. Any conditions of approval recommended by the Board or required by the City Commission will be placed in Exhibit "C" - Conditions of Approval. S:\Planning\Shared\Wp\PrOjecls\Seaview Park Club\SPTE 06.002\Staff Report,doc 131 ExhuJit 'A' - Location I\hdp . o I 100 200 400 600 800 I Feet w.' s 133 LENNAR {JUII/lf\ l(llllt /1111 ~'II\ EXHIBIT B February 3, 2006 ;; n Michael W, Rumpf Director of Planning and Zoning City of Boynton Beach Development Department Planning and Zoning Division 100 E. Boynton Beach Boulevard P.O, Box 310 Boynton Beach, FL 33425 Re: Seaview Park Club - Request for Extension of Site Plan Approval Ii 'i t~~ :J2~6'i -'-_.J Dear Mike, As you are aware, site plan approval for the above project was granted by the City Commission on February 15, 2005. Lennar Homes, Inc, has been diligently working to secure all necessary governmental approvals to allow construction of this community to begin as soon as possible. Despite our best efforts, however, it appears that we will not have secured a building permit from the City of Boynton Beach prior to the expiration of our site plan approval. We are therefore requesting an extension to our current site plan approval for a period of one year to allow us to complete our current engineering review process with the City of Boynton Beach and to secure building permits for this project. In support of this request for extension of site plan approval, we would ask that you consider the following accomplishments which we feel demonstrates our firm commitment to the successful development of Seaview Park: · Minor modification to site plan, accommodating certain changes requested by City of Boynton Beach approved on April 25, 2005. · Capacity Reservation Fees in the amount of $5,821.20 paid in full to City of Boynton Beach · Environment Resource Permit (ERP) issued by South Florida Water Management District on January 11, 2006 · FDOT Driveway Permit renewed on August 17, 2005 · Bid process for demolition contractor complete and contractor selected, · Payment in the amount of $10,191.00 made to Florida Power & Light for removal of existing overhead electric poles located on the Seaview Park property. FP&L are scheduled to commence this work week beginning February 6, 2006. · Preliminary Plat submitted to City Engineer and comments received, Resubmittal scheduled for February 7, 2006 · Paving, Grading and Drainage drawings submitted to City Engineer and Comments received. Resubmittal scheduled for February 7, 2006 ~- 1015 N. State Rd. 7 · Suite C. Royal Palm Beach, FL 33411 . Telephone: 561-333-4700 . Fax: 561-753-5533 . www.lennar.com .~. 134 February 3, 2006 Michael W, Rumpf Re: Sea view Park Club - Request for Extension of Site Plan Approval Page 2 · Water and Sewer drawings submitted to City Engineer and Comments received. Resubmittal scheduled for February 7, 2006. Documentation supporting all of the above milestones has been attached to this letter In parallel with our development work, the owner's of Seaview Park issued eviction notices to all residents of Seaview in May 2005. As you know, during the eviction notice period, several of the park residents filed a complaint for declaratory and injunctive relief against both the City of Boyntpn Beach and the Owner's of Sea view Park Club. Despite the uncertainty regarding the potential outcome of this litigation, Lennar Homes, Inc, continued its efforts to secure governmental approvals, Thankfully this complaint was voluntarily dismissed on November 14, 2005 as a result of a settlement agreement between the Owners and the park residents. In order to avoid any potential delay to the project, we would respectfully ask that this request for extension of site plan approval be submitted for inclusion on the CRA agenda for March 14, 2006 and on the subsequent City Commission agenda for March 21, 2006. Lennar Homes, Inc. will of course mail the required notices to neighboring property owners and post required signage in advance of the above meetings. Should you require any additional documentation or deem it necessary to have representation from our office at any meetings prior to the above hearings please do not hesitate to contact me at (561) 228-5314. Your early response in this matter would be greatly appreciated. Thank you once again for your continued support. Sincerely, Andy MacGr r Portfolio Manager 135 EXHIBIT "C" Conditions of Approval Project name: Seaview Park Club File number: SPTE 06-002 Reference: DEPARTMENTS INCLUDE REJECT PUBLIC WORKS- General Comments: None PUBLIC WORKS- Traffic Comments: None UTILITIES Comments: None FIRE Comments: None POLICE Comments: None ENGINEERING DIVISION Comments: None BUILDING DIVISION Comments: None PARKS AND RECREATION Conunents: None FORESTER/ENVIRONMENT ALIST Comments: None PLANNING AND ZONING 1. Time extension is subject to the original Conditions of Approval and those contained within the Minor Site Plan Modification approval. 138 Conditions of Approval 2 I DEP ARTMENTS I INCLUDE I REJECT I ADDITIONAL COMMUNITY REDEVELOPMENT AGENCY BOARD CONDITIONS Comments: To be determined. ADDITIONAL CITY COMMISSION CONDITIONS Comments: To be determined. S:\Planning\SHARED\WP\PROJECTS\Seaview Park Club\SPTE 06-002\Condition of Approval fonn,doc 137 DEVELOPMENT ORDER OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA PROJECT NAME: Seaview Park Club APPLICANT'S AGENT: Mr, Andy MacGregor - Lennar Homes APPLICANT'S ADDRESS: 1015 N. State Road 7, Suite C, Royal Palm Beach, FL 33411 DATE OF HEARING RATIFICATION BEFORE CITY COMMISSION: April 4, 2006 TYPE OF RELIEF SOUGHT: Request site plan extension approval for one year, to constr~ct 64, three (3) story townhouse units on 3,756 acres in the IPUD zoning district. LOCATION OF PROPERTY: 1620 North Federal Highway DRAWING(S): SEE EXHIBIT "B" ATTACHED HERETO. THIS MATTER came on to be heard before the City Commission of the City of Boynton Beach, Florida on the date of hearing stated above. The City Commission having considered the relief sought by the applicant and heard testimony from the applicant, members of city administrative staff and the public finds as follows: 1. Application for the relief sought was made by the Applicant in a manner consistent with the requirements of the City's Land Development Regulations, 2, The Applicant HAS HAS NOT established by substantial competent evidence a basis for the relief requested. 3, The conditions for development requested by the Applicant, administrative staff, or suggested by the public and supported by substantial competent evidence are as set forth on Exhibit "C" with notation "Included", 4. The Applicant's application for relief is hereby - GRANTED subject to the conditions referenced in paragraph 3 hereof. DENIED 5. This Order shall take effect immediately upon issuance by the City Clerk. 6. All further development on the property shall be made in accordance with the terms and conditions of this order. 7. Other DATED: City Clerk S:\Planning\SHAREO\WP\PROJECTS\Seaview Park Club\SPTE\OO.doc 138 Page 1 of2 Brooks, Vivian From: Lorie,Moccia@lennar.com Sent: Tuesday, March 07, 200610:22 AM To: Brooks, Vivian Cc: Andy,MacGregor@Lennar.com Subject: Seaview Park Club Attachments: Seaview Demo Contract 3_3_06,tif; Revocable License Agreementtif; Notice of Closing Letter 2-24-06.pdf Ms. Brooks: Please find this email and its attachments as confirmation and reassurance that Lennar is working as diligently as possible with the current owners to start demolition and construction of the Seaview Park Club per your conversation with Andy MacGregor. Despite our best efforts of obtaining all necessary Governmental approvals to start this project we have been unsuccessful in obtaining a building permit from the City of Boynton Beach as of yet. We have had some unexpected delays including the lawsuit filed by the residents of the Seaview Park Club. Our project drawings are currently in their second round of review with both Engineering and the Building Department and expect permits with in the next month or two. We received our ERP from SFWMD in early January so we are ready to proceed upon receipt of permits and approval of our Site Plan Extension from the City, We have been requesting permission to start Demolition on the property since early January and have sent the owners the attached Revocable License Agreement which would allow us to come onto their property and begin work. Unfortunately to date we have not received this signed authorization from them despite our best efforts, Since we are not the property owners we would have no insurance or authorization to begin work without this Agreement in place. As you can see by the attached Demo Contract we are under contract with BG Group for the Demolition work and are currently in the process of applying for Demolition Permits from the City. We are currently scheduled to start this work on March 28, 2006 (the day after we close, see attached letter of intent to close) pending approval of all necessary Demolition Permits from the City of Boynton Beach. I have also been workin~ closely with all of the utility providers in preparation for Demolition work to begin, FPL was out at the site in late February taking down electrical service and poles that have been abandoned. Adelphia Cable and Bell South have also been out at the site disconnecting their utility services. I have also spoken with Scott Blazee in your code compliance office to reassure him of our efforts to begin the demolition process and have given him the same start date as stated in this email. I have also attached a letter from Lennar to Ed Breese and Mike Rumph confirming our willingness to take the FPL lines along Federal Highway underground along with the new development to our South (Yachtsmen's Plaza). This would be a new condition on our site plan during the time extension approval process. In addition to our letter I am meeting with the Developers of the new Yachtsman Cove to coordinate the logistics of this. I hope you will find that Lennar is as anxious as the City and the neighboring communities to get this project site cleaned up and construction started, I am working as quickly as possible to have all necessary requirements fulfilled in order to make this happen If you have any questions or need any other information please do not hesitate to email me or give me a call on my direct line, Link Email to Ed Breese and Mike Rumph-Confirming Lennar will take FPL lines Underground at Federal Hwy, Thank you, Lorie Moccia 03/07/2006 139 Page 2 of2 Asset Manager Lennar Homes P-'." Beach - Indian River Land Division Okeechobee Boulevard, Suite A VVt:!st Palm Beach, Florida 33415 561.333.4700 ext,. 2016 (Office) 561.228.5316 (Office Direct) 954.646.5435 (Cell) 561,228.5289 (Fax) Lorie, Moccia@Lennar.com 03/07/2006 140 LENNAR IJ" I l I In. '/, February 24, 2006 < via fax and u.s. mail> Wayne Irving, Charlene Darst, Cannen Hubert Irving and Gail Ann Irving c/o Kaleel & Associates 555 N, Congress Avenue, Suite 301 Boynton Beach FL 33426 Re: Al!:reement for Purchase and Sale (Seaview Park Club) Dear Wayne Irving, Charlene Darst, Cannen Hubert Irving and Gail Ann Irving: This letter is sent pursuant to Section 15.2 of the Agreement for Purchase and Sale as Amended (Seaview Park Club) between Lennar Homes, Inc. as Buyer and Wayne Irving, Charlene Darst, Cannen Hubert Irving, and Gail Ann Irving as Seller. Lennar Homes, notwithstanding its diligent efforts, has been unable to obtain the necessary Government Approvals for the proposed community. Therefore, we are hereby giving notice of our intent to close this transaction in accordance with the tenns of this Agreement without satisfaction of the Conditions Precedent set forth in Section 15.2 of this Agreement. Closing will be scheduled for March 27, 2006. &~ ert Lennar Homes, Inc. Vice President of Acquisitions ~- 1015 N, State Rd. 7. Suite C. Royal Palm Beach, FL 33411 · Telephone: 561-333-4700. Fax: 561-753-5533. www.lennar.com 'fiE 141 LENNAR (J ,/1 ' I I,I II March 3, 2006 Tom Schwab The BG Group, LLC 10018 Spanish Isles Boulevard Boca Raton, Florida 33498 Re: Seaview Park Club Contract #4027138 Dear Tom: Enclosed are two sets of the above contract between Lennar Homes, Inc., a Florida corporation and your organization, Please execute and return them to us at 8136 Okeechobee Blvd., West Palm Beach, Rorida 33411, Attn: Catherine Moore, along with a current certificate of insurance that meets Lennar's requirements. The insurance documents must be forwarded under separate cover to: Lennar Corporation Insurance Compliance Department P.O. Box 12010-LC Hemet, California 92546-8010 The payment procedures are outlined in the contract (see Article 5). Please send the original Application for Payment to: Lennar Homes, Inc. Attention: PBIR Land Division Accounts Payable Dept. 8136 Okeechobee Blvd. West Palm Beach, Florida 33411 A computer diskette is enclosed. This disk contains the required fonnat of the Application for Payment. If you have any questions, do not hesitate to call me, Sincerely, ( ~N~R ,HOMES, INC. CJ~)^J.lJ\~ ~~~ Lorie Moccia Asset Manager LM: em Enclosures Palm Beach - Indian River (PBIR) Land Division · 8136 Okeechobee Boulevard, Suite A, West Palm Beach, Florida 33415 ~- Telephone: 561-333-4700. Fax: 561-228-5289. www.lennar.com 142 Contract # 4027138 Seaview Park Club The BG Group, LLC AGREEMENT BETWEEN OWNER AND CONTRACTOR THIS AGREEMENT is dated and will be effective on the 3rd day of March, 2006, by and between LENNAR HOMES, INC., a Florida corporation, (hereinafter called OWNER) and THE BG GROUP, LLC (hereinafter called CONTRACTOR), OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as follows: ARTICLE 1. WORK. CONTRACTOR shall complete all Work as specified or as required to complete the Work indicated in the Contract Documents. The Work is generally described as follows: Pre-Demolition, Demolition and Post Demolition Seaview Park Club, Palm Beach County, Boynton Beach, FL ARTICLE 2. ENGINEER, The Project has been designed by Carter & Burgess, Inc. (herein after called ENGINEER). ENGINEER is to act as OWNER's representative, assume all duties and responsibilities and have the rights and authority assigned to ENGINEER in the Contract Documents In connection with completion of the Work in accordance with the Contract Documents. ARTICLE 3, CONTRACT TIME. The Work will be substantially completed within 20 calendar days from the date when the Contract Time commences to run as provided in 2.03 of the General Conditions, and completed and ready for final payment in accordance with paragraph 14,07 of the General Conditions within 50 calendar days from the date when the Contract Time commences to run. See Exhibit "A", Project Schedule, ARTICLE 4, CONTRACT PRICE. 4,1. OWNER shall pay CONTRACTOR for completion of the Work in accordance with the Contract Documents, subject to adjustment as provided therein, in current funds the Contract Price. 4,2. The Contract Price is determined by the Unit Price Schedule, Exhibit "B", Unit Prices shall include all labor, material, supplies, overhead, profit, insurance, etc. needed in order to complete the Work. ARTICLE 5. PAYMENT PROCEDURES. CONTRACTOR shall submit Application for Payment, Exhibit "C", and a Release of Claims, Exhibit "0", in accordance with Article 14 of the General Conditions, Application for Payment will be processed by ENGINEER as provided in the General Conditions. 5,1. PROGRESS PAYMENTS, OWNER shall make progress payments on account of the Contract Price on the basis of CONTRACTOR's Application for Payment, as signed and approved by ENGINEER, within 30 days of receipt of said Application for Paymen4 during construction as provided below. All progress payments will be on the basis of the progress of the Work measured by the number of units completed, 5.1.1. Prior to Substantial Completion, OWNER will hold retainage in an amount equal to 10% of the Work completed, plus such amounts as ENGINEER shall determine, or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. 5.1.2. Upon Substantial Completion, OWNER will hold retainage in an amount equal to 5% of the Work completed, plus such amounts as ENGINEER shall determine, or OWNER may withhold, in accordance with paragraph 14.02 of the General Conditions. 5,2, FINAL PAYMENT. Upon final completion and acceptance of the Work in accordance with paragraph 14,07 of the General Conditions, and upon furnishing evidence satisfactory to OWNER that there are no obligations, claims or liens for labor, taxes, contributions or other items in connection with the Work, and shall have executed and delivered to OWNER a Final Release of Claims, Exhibit Page 1 of 5 143 Contract # 4027138 Seavlew Park Club The BG Group, LLC "E", and a Contractor's Rnal Affidavit, Exhibit "F", OWNER shall pay the remainder of the Contract Price as recommended by ENGINEER as provided in said paragraph 14.07. In addition to the approval of ENGINEER, all required approvals and acceptances by regulatory and governing agendes having jurisdiction must be received by OWNER prior to Rnal Payment. Additionally, if OWNER was required to provide any form of surety to a regulatory or governmental agency to guarantee performance of the Work, then such surety must be released by the regulatory or governmental agency prior to Final Payment. ARTICLE 6. INSURANCE, Prior to commencement of the Work, CONTRACTOR shall purchase and maintain such liability and other insurance with a carrier not objectionable to OWNER as described on Summary of Contractor's Insurance Requirements, Exhibit "G". Prior to entitlement to each and any payment, CONTRACTOR shall furnish evidence of effective insurance by way of a certificate or copy of policy for each coverage required. The certificate(s) must provide that there are no exclusory riders, and that the carrier must provide OWNER with 30 days written notice prior to cancellation, OWNER shall be an Additional Named Insured on all insurance. ARTICLE 7, CONTRACTOR'S REPRESENTATIONS. In order to induce OWNER to enter into this Agreement CONTRACTOR makes the following representations: 7,1. CONTRACTOR has familiarized itself with the nature and extent of the Contract Documents, Work, site, locality, and all iocal conditions and Laws and Regulations that in any manner may affect cost, progress, performance or furnishing of the Work and specifically acknowledges the intent of the Contract Documents as set forth in Article 3,01 of the General Conditions. 7.2. CONTRACTOR has obtained and carefully studied all reports of explorations and tests of subsurface conditions at the site and drawings of physical conditions in or relating to existing surface and subsurface structures (except Underground Facilities) which are at or contiguous to the site which have been utilized by ENGINEER in preparation of the Contract Documents, CONTRACTOR speCifically acknowledges that such reports, tests and drawings are for informational purposes only, do not form a part of this Agreement, and that CONTRACTOR may not rely upon the accuracy of the technical data, non-technical data, interpretation or opinions contained in those reports, tests and drawings, The CONTRACTOR also spedfically acknowledges its complete responsibility as set forth in this Article and Article 4.02 of the General Conditions for all subsurface conditions at the site. 7.3 CONTRACTOR has reviewed and checked all information and data shown or indicated on the Contract Documents with respect to existing Underground Fadllties at or contiguous to the site and assumes responsibility for the accurate location of said Underground Fadllties. CONTRACTOR acknowledges that information and data was furnished to OWNER and ENGINEER by owners of such Underground Fadlities or others, and CONTRACTOR does not hold OWNER responsible for the accuracy or completeness thereof, 7.4 CONTRACTOR has correlated the results of all such observations, examinations, investigations, explorations, tests, reports and studies with the terms and conditions of the Contract Documents and acknowledges that such information Is all that is necessary for the performance or furnishing of the Work at the Contract Price, within the Contract Time and in accordance with other terms and conditions of the Contract Documents. 7,5 CONTRACTOR shall, prior to commencing the Work, provide ENGINEER written notice of all conflicts, errors, or discrepancies disclosed by CONTRACTOR'S review of the Contract Documents, ENGINEER shall reconcile such conflicts, correct such errors and address such deficiencies so as to enable CONTRACTOR to perform the Work without additional cost to the OWNER. ARTICLE 8, CONTRACT DOCUMENTS. The Contract Documents which comprise the entire Agreement between OWNER and CONTRACTOR concerning the Work consist of the following: 8.1. This Agreement, consisting of 5 pages. 8.2, Exhibits to this Agreement: Page 2 of 5 144 Contract # 4027138 Seaview Park Club The BG Group, LLC "A" Project Schedule, 1 page. "B" Unit Price Schedule,l page, "C" Application for Payment,l page, "D" Release of Claims, 1 page. "E" Final Release of Claims, 1 page. "F" Contractor's Final Affidavit, 1 page. "G" Summary of Contractor's Insurance Requirements, 2 pages. 8.3. Supplementary Conditions, 3 pages. 8.4, Standard General CondItions of the Construction Contract, Form EJCDC No. 1910-8 (1996 Edition), 42 pages (General Conditions), incorporated herein by reference, but not enclosed, 8,5, The Drawings and Specifications prepared by ENGINEER which form a part of the Contract Documents and are incorporated herein by reference and depict the Work to be performed are titled: A, Construction Plans prepared by Carter & Burgess, Inc. dated 11/18/05, sheets C1 through C21 originally supplied to Consultant on December 12, 2005, 8.6, The following which may be delivered or issued after the Effective Date of the Agreement and are not attached hereto: Ail Written Amendments and other documents amending, modifying, or supplementing the Contract Documents pursuant to paragraph 3,04 of the General Conditions. 8,7. The documents listed in this Article 8 are attached to this Agreement (except as expressly noted otherwise above). There are no Contract Documents other than those listed in this Article 8. The Contract Documents may only be amended, modified or supplemented as provided in paragraph 3,04 of the General Conditions. In the event of conflict between the Contract Documents, the Contractor will be obligated to perform the most stringent of the conflicting provisions as determined by the Owner, ARTICLE 9. MISCELLANEOUS, 9.1. Terms used in this Agreement which are defined in Article 1 of the General Conditions will have the meanings indicated In the General Conditions. 9,2. No assignment by a party hereto of any rights under or interests in the Contract Documents will be binding on another party hereto without the written consent of the party sought to be bound; and specifically but without limitation moneys that may become due and monies that are due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment no assignment will release or discharge the assignor from any duty or responsibility under the Contract Documents. 9,3. CONTRACfOR binds itself, its partners, successors, assigns and legal representatives to the OWNER, its partners, successors, assigns and legal representatives in respect of all covenants, agreements and obligations contained in the Contract Documents, 9.4, CONTRACTOR recognizes that TREE MOVERS, INC. will be relocating trees on the Project. The deadline for TREE MOVERS' completion of Work is dependent upon CONTRACTOR'S timely performance of CONTRACTOR'S Work and proper coordination with TREE MOVERS, INC. Accordingly, CONTRACTOR agrees to coordinate scheduling of the Work with TREE MOVERS, INC. and to cooperate with TREE MOVERS, INC. so as to facilitate the timely completion of the Work cailed for under both Contracts within the deadlines speCified. CONTRACfOR also agrees that the responsibility for coordination is solely that of CONTRACTOR and not of the OWNER. CONTRACTOR further agrees that any claims resulting from failure to schedule or cooperate will be made against TREE MOVERS, INC. and not against the OWNER, 9,5 Customer Appreciation Gifts or Events - This Customer Appreciation Gifts or Events Paragraph is executed in conjunction with and, by this reference, incorporated into this Agreement (the "Agreement") dated as of the 3n:l day of March, 2006 between LENNAR HOMES, INC" a Florida corporation ("OWNER") and The BG Group, LLC ("CONTRACTOR"). Page 3 of 5 145 Contract # 4027138 Seaview Park Oub The BG Group, LLC 1. Defined Terms, All initially capitalized terms not defined herein shall have the meanings set forth in the Agreement, 2, Conflicts. In the event of any conflict between this Paragraph and the Agreement, this Paragraph shall control. In all other respects, the Agreement shall remain in full force and effect. 3, Customer Appreciation Gifts or Events. Because OWNER appredates the efforts of its CONTRACTORS and their employees, OWNER periodically gives its CONTRACTORS and CONTRACTORS' employees customary and nominal tokens of its appreciation, such as, without limitation, logo and non-logo apparel, rounds of golf, spa days, meals, materials and other "customer appreciation" gifts or outings, CONTRACTOR acknowledges and agrees that OWNER'S giving such tokens of appreciation to CONTRACTOR or CONTRACTOR'S employees is customary in the industry and does not constitute an attempt to improperly influence CONTRACTOR or CONTRACTOR'S employees and does not and will not give rise to any claims for civil or criminal misconduct, OWNER fully understands that as a consequence of accepting any tokens of appreciation from OWNER, CONTRACTOR or CONTRACTOR'S employees will be under no obligation to OWNER other than those contained in this Agreement. In order to ensure that CONTRACTOR is aware of this practice, CONTRACTOR expressly agrees that OWNER may, at OWNER'S sole discretion, without any obligation on the part of OWNER and without further notice to CONTRACTOR, provide similar tokens of appreciation to CONTRACTOR or CONTRACTOR'S employees without the need to obtain additional written or verbal consent from CONTRACTOR, LENNAR HOMES, INC., a Florida Corporation THE BG GROUP, LLC By: By: Name: Andv MacGreaor Name: Title: Portfolio Manager Title: Date: Date: ARTICLE 10, STORM WATER COMPUANCE CONTRACTOR shall comply with OWNER'S Storm Water Pollution Prevention Plan ("SWPPP''), applicable storm water permit ("Permit''), and OWNER'S Storm Water Compliance Guidelines ("Guidelines''). CONTRACTOR shall Implement the Best Management Practices ("BMPs''), set forth in the SWPPP, for any work that it performs on the job site. A copy of the SWPPP, Guidelines and Permit are available from OWNER. OWNER shall be entitled to recover from CONTRACTOR all fines, fees, expenses and other penalties assessed by any governmental body due to CONTRACTOR'S violation of the Permit or its obligations herein. CONTRACTOR HEREBY AGREES TO INDEMNIFY, DEFEND AND HOLD HARMLESS OWNER FROM AND AGAINST ANY AND AU ClAIMS, DAMAGES, AlTORNEYS' FEES, EXPENSES, OR UABILmES OF ANY lYPE OR NATURE, INCLUDING WITHOUT liMITATION, ANY AND AU FINES OR OTHER PENALTIES, OVIL OR CRIMINAL, ARISING OUT OF ANY VIOLATION OF THE PERMIT OR ANY OF CONTRACTOR'S OBliGATIONS HEREIN, CAUSED IN WHOLE OR IN PART, BY THE WRONGFUL ACTS OR OMISSIONS OF CONTRACTOR, OR OTHERWISE CAUSED IN WHOLE OR IN PART BY CONTRACTOR'S FAILURE TO COMPLY WITH THE OBliGATIONS IN THIS PARAGRAPH. CONTRACTOR acknowledges that failure to adhere to the requirements of the SWPPP, Guidelines or Permit constitutes a material default of its contractual obligations herein, and OWNER may, without prejudice to any other right or remedy, remove CONTRACTOR from the job site, terminate this Contract, and retain a separate Contractor to complete CONTRACTOR'S obligations in this contract (the "Completion Contractor"), In the event of termination, CONTRACTOR shall be entitled to receive no further monies unless and until the CONTRACTOR'S scope of work is completed by the Completion Contractor. ARTICLE 11. INDEMNIFICATION. 11.1. In consideration of the sum of $10.00 and other good and valuable consideration, the Inducement by OWNER to CONTRACTOR to enter into this Contract, the CONTRACTOR hereby proVides the OWNER and ENGINEER Indemnification as designated in paragraph 6.20 of the General Conditions, Page 4 of 5 146 Contract # 4027138 Seaview Park Club The BG Group, LLC 11.2. It is the specific intent of the parties hereto that the foregoing indemnification complies with Florida Statute 725.06 (Chapter 725), It is further the specific intent and agreement of the parties that all of the Contract Documents on this Project are hereby amended to Include the foregoing indemnification and the "Specific Consideration" therefore, ARTICLE 12. WAIVER OF TRIAL BY JURY/ARBITRATION, 12.1 To the full extent allowed by applicable law, the CONTRACTOR and the OWNER hereby expressly covenant and agree to waive the right to trial by jury in connection with any litigation or judicial proceeding relating to or concerning, directly or indirectly, this agreement or the conduct, omission, action, obligation, duty, right, benefit, privilege or liability of a party. This waiver of right to trial by jury is separately given and is knowingly, Intentionally and voluntarily made by the CONTRACTOR and the OWNER, and both acknowledge that separate and good and valuable consideration has been provided by each for this waiver. The CONTRACTOR and the OWNER have had an opportunity to seek legal counsel concerning this waiver. This waiver is intended to and does encompass each instance and each Issue as to which the right to a jury trial would otherwise accrue, The CONTRACTOR and the OWNER further certify and represent to each other that no party, representative or agent of the CONTRACTOR or the OWNER (including, but not limited to, their respective counsel) has represented, expressly or otherwise to the CONTRACTOR or the OWNER or to any agent or representative of the CONTRACTOR or the OWNER (including, but not limited to, their respective counsel) that they will not seek to enforce this waiver of right to jury trial. This waiver shall apply to this agreement and any future amendments, supplements or modifications of this agreement. Notwithstanding the foregoing, in the event a claim or controversy arises between OWNER and any third party regarding materials supplied and/or work performed by or through CONTRACTOR, and such claim or controversy is subject to binding arbitration between OWNER and the third party, CONTRACTOR agrees to participate as a party in any mediation or arbitration, and to be bound by any arbitration proceedings or arbitration ruling in such arbitration. IN WITNESS WHEREOF, OWNER and CONTRACTOR have signed this Agreement in duplicate, One counterpart each has been delivered to OWNER and CONTRACTOR. LENNAR HOMES, INC., a Florida Corporation THE BG GROUP, LLC By: Andy MacGregor, Portfolio Manager By: Address for giving notices: Address for giving notices: 3851 NW 65th Drive Boca Raton, Rorida 33498 Telephone: (561) 483-5151 Facsimile: (561) 483-5115 License No.GCG035830 8136 Okeechobee Blvd. West Palm Beach, Florida 33411 Telephone: (561) 333-4700 Facsimile: (561) 333-2474 Page 5 of 5 147 Contract # 4027138 Seaview Park Club The BG Group, LLC EXHIBIT "An PROJECT SCHEDULE Upon Contractor obtaining all necessary permits (which is expected no later than March 28,2006), demolition work will be completed within 20 business days. A-l 148 Seavlew Park Club The 8G Group, LLC EXHIBIT "B" UNIT PRICE SCHEDULE Contract #4027138 March 3, 2006 Cost No. Description Qty Unit Price Amount Code 2213 A. Pre-Demolition 1 LS 9,500.00 9,500.00 B. Demolition 1 LS 85,000.00 85,000.00 C, Post-Demolition 1 LS 3,500.00 3,500.00 CONTRACT TOTAL $98,000,00 8-1 149 CXlCD "'0 ~O ""N N . ;~ tl~ ';:< " r Ie! ~ ~Ie! Ie! ~ 88 :~\~: ~~ ~& ~JI <<>fIi c: m:g "'00 ma '" a ,0 ,,~ ,$ ... :i i 0011) U !~IC) I ,,- ::l~"'a:: 'I ~~,.... ,-- a:- Cl ~ -~ 'l!:~ ! ~lI)ii, 0 : ,!;. II::CDIt_:= 8 8 = ~ gw i ~~ ~~ w e 0 ~:n1i~:;: c: 00 00 ~ ~~j~~ ~j i Iii z I!! 12 : 0 ... .. 88 il~ 000 I Co , I :~ ;';~~, 88 jc: 88 88 ~c Co . , , , ee Co 12~ ~J '~ ~ ~ ~~~ 1-- ~ I~ 00 c- o <: <: : 0 0 88 "" <:j ,8 000 ill' <: I 0 000 cid ~~ Ie ooe ;J ~ sj.!!l ~j ~ i 0.= 'Is I J <: - ~~ ~ ! 0 !lIllB !3 , 'Ii 'C 5 0 .~ ~ ]i .~ ~ il~ 000 9; ~Q.&l 00 1; 8 000 ~C! qqo 00 ~ :i ,g 8~g ~] 1: I ,II) q 0 <: 'ai :g"'oo '" ell ~ .J!i :,; c( ~ III t~'~ ... :.:: 0 ~ " 000 " 000 :> ,,. ggg i ~B g'gla ~ s lif .... .!ll ',' Ql ~ .:"C '" I - J~ N '2 en en en 'v::) ...J...J...J N .J!i .c .!ll "', - (,) -- -- - ,.., 6 .',",' ~ ~~ 00 Co 88 \1" ~ -' j ~= ~ 'C ]! ~- u. 0 I I J lil: ~. I ...J ~ I Q. II:: I ~ Q. i ~ <I t z ~ E 0 '" 5 en "" ...J c: :> i ... ~ Ij uz i5 ~ -, III It~j <: g ~ Q g 0 Q. ;e ~ '~ :5 z :; ~~ l ;e 0 I ~ II:: .. ii: ~~ ~I~ ~1is z Ql ~ ii: ~~ 8 _9 lDo u III ' en ~ < g j!:~ w 8 ~cr:I": Nr; 0 ~ u ,j d z !z w ::IE ~G Q. , 1I::t: ")!!! :J: )( III 8 ::i Go Go c( "'() :;>--' ---' () , -l!:g- III e D.C) ') I ~ rnr= 150 Contract # 4027138 Seavlew Park Club The BG Group, LLC EXHIBIT "0" RELEASE OF CLAIMS KNOWN ALL MEN BY THESE PRESENTS: For value received, an in order to induce payment of $ , the undersigned hereby releases all liens, claims against bond, equitable claims, demands for payment, indebtedness, and rights to claim against the real property, Lennar Homes, Inc., Lennar Land Partners, it's subsidiaries, affiliates, and surety (if there is one), for all labor, services and materials furnished by or through the undersigned, through the date . for the benefit of the property described as: The undersigned further swears, affirms, and represents that it has paid for all labor, materials, and services used in Improvements of the said property through the date . except for the following: (list any unpaid persons and amounts unpaid - if blank, then none) The undersigned makes this sworn statement based on personal knowledge, and with the understanding that Lennar Homes, Inc" Lennar Land Partners, and its surety (if any), are relying on this representation in order to make payment to or for the benefit of the undersigned, for the work performed and/or materials furnished at the stated project. By: Dated: State of Florida) County of ) The foregoing final release of claims was sworn to and subscribed before me on this day of .200----, by . known to me to be the of . for the purposes therein expressed, and who did take an oath. NOTARY PUBLIC My Commission Expires: D-1 151 Contract # 4027138 Seaview Park Club The BG Group, LLC EXHIBIT "E" FINAL RELEASE OF CLAIMS KNOWN ALL MEN BY THESE PRESENTS: For value received, and in order to induce payment, the undersigned hereby releases all liens, claims, indebtedness, and rights to claim against any person, bond, and/or property for all labor, services and materials furnished by or under the undersigned for the benefit of the property described as: The undersigned further swears, affinns, and represents that it has been paid in full, and that payment in full for all labor, materials, and services used in improvements of said property has been made, except for the following: (list any unpaid persons and amounts unpaid - if blank, then none), The undersigned further agrees that it will not perfonn any further work on the project, through itself or through persons working under the undersigned, save and except corrective and warranty work for which payment has been made, and will indemnify Lennar Homes, Inc. and Lennar Land Partners for any sums claimed to be due or owing on this project by the Undersigned, or any persons working under the undersigned. The undersigned will cause to be released or bonded any liens filed hereafter, including any lien filed by the undersigned, and will indemnify Lennar Homes, Inc. and Lennar Land Partners from any such liens, The undersigned makes this sworn statement based on personal knowledge, and with the understanding that Lennar Homes, Inc., and Lenhar Land Partners is relying on this representation in order to make final payment for this project, By: Dated : State of Florida ) County of ) The foregoing final release of claims was sworn to and subscribed before me this _ day of . 200---i by known to me to be the of . for the purposes therein expressed, and who did take an oath, NOTARY PUBUC My Commission Expires: E-l 152 Contract # 4027138 Seaview Park Club The BG Group, LlC EXHIBIT "Fit CONTRACTOR'S FINAL AFFIDAVIT STATE OF FLORIDA } 55: COUNTY OF } BEFORE ME, an officer duly authorized in the State aforesaid and in the County aforesaid to take acknowledgements, personally appeared . to me known to be the person described in, or has produced as identification, and who, after being first duly sworn, deposes and says: 1. He is the of does business in the State of Aorida ("Contractor"), 2, Contractor, pursuant to a contract dated . 200-, with ("Owner"), has furnished or caused to be furnished, labor, materials, and services for the construction of certain improvements as more particularly set forth in said contract, which 3. This affidavit is executed by the Contractor In accordance with Section 713,06(3) (d) of the Aorida Statutes for the purpose of obtaining final payment from the Owner in the amount of $ 4. All work to be performed under the contract has been fully completed, and alllienors under the direct contract have been paid in full, except the following listed Iienors: I NAME OF UENOR I AMDUNr DUE Signed, sealed, and delivered this _ day of ,200_, By: Contractor The foregoing instrument was acknowledge before me this , ,by personally known to me) / (who has produced identification) and (did) / (did not) take an oath. day of _ He/ She (who is as My commission expires: Notary Public State Of Florida At Large Typed or printed name of Notary Public F-l 153 Contract # 4027138 Seavlew Park Club The BG Group. LLC EXHIBIT lOG" INSURANCE REQUIREMENTS - High Subcontractor shall procure and maintain, at Its sole cost and expense. the following Inauranee coveragea: 1. Workere' ComDenaadon: Coverage A. Statutory Benefits Coverage B. Employers' L1abHity as follows: BodHy Injury by accident Bodily Injury by disease Bodily Injury by disease $100,000 each accident $500,000 policy limit $100,000 each employee Coverage must include a waiver of subrogation endorsement In favor of. and naming. lennar Corporation, including its subsidiaries, partners, partnerships, affiliated companies. successors and assigns. 2. Commercial Auto Cover_: AutomobHe Liability coverage of not less than $500,000 combined single limit, each accident, covering all owned, hired and non-owned autos. 3. Commercial General L1abllltv: The limits of liability shall not be less than: Each Occurrence limit Personal Advertising Injury limit Products/Completed Operations Aggregate limit General Aggregate Limit (other than Products/Completed Operations) $1.000,000 $1,000,000 $1,000,000 $2,000,000 The policy must include: al Premises and Operations coverage with no explosions, collapse, or underground damage exclusion (XCU). bl Products and Completed Operations coverage. Subcontractor agrees to maintain this coverage for a minimum of ten (10) years following completion of Its work. e) Standard ISO CG0001 0196 Contractual liability coverage, or Its equivalent, and a Separation of Insureds clause. dl Broad Fonn Property Damage coverage, Including completed operations. or Its equivalent. al The work "perfonned on your behalf by a subcontractor" exception to the "Damage to Your Work" exclusion (Exclusion "." In Section' of the CG0001 0196.) No limitation or restriction of this exceotion ~. f) An Additional Insured Endorsement containing the following provision: "It Is understood and agreed that coverage afforded by this policy ,shall also apply to lennar Corporation, Including Its subsidiaries. partners, partnerships. affiliated companies, successors and assigns, as additional Insureds." g} A primary endorsement stating: "Such coverage as Is afforded by this policy for the benefit of the additlonallnsured(s) is primary and any other coverege maintained by such additlonallnsured(s) shall be non-contrlbuting with tha coverage provided under this policy: hI If the Work to be perfonned is on an attached community. there shall be no exclusion for attached or condominium projects. I} There shall be no exclusions for continuing or progressive losses not known by Subcontractor to exist prior to policy Inception. II Coverage must be on an 'occurrence" fann. 'Claims Made" and "Modified Occurrence" fonns are not acceptable. 4. Prooertv Inauranee: Subcontractor shall maintain 'Special Fonn' property insurance (commonly referred to as "all risk' or "special perils" coverage) In an amount equal to the full replacement cost of all Subcontractor's real and personal property (for which It has title and/or risk of loss), as well as real and personal property which becomes a final part of the Project, during its off-Project status, In transit and while stored or worked upon away from. or on. the Project site. All policy proceeds shall be used for the repair or replacement of the property damaged or destroyed. 5. Olher Reaulrements: a} All poliCies must afford an unqualified thirty (30) days notice of cancellation to the additlonallnsured(s) in the event of cancellation or non-renewal, and ten (10) days notice of cancellation for non-payment of premium, b) All pOlicies must be written by Insurance companies whose rating In the most recent Best's Rating Guide. is not less than B (++):VIJ. All coverage fonns must be acceptable to Contractor. Subcontractor agreas to provide a full certified copy of any policy maintained by Subcontractor to Contractor upon Contractor's request therefor. e) Certificates of Insurance with the required endorsements evidencing the required coverages must be delivered to the Contractor prior to commencement of any work under this Subcontract. Such certifICates of insurance shall state "All Operations" of Contractor or Subcontractor perfonned on behalf of Contractor shall be covered by such insurance. The wording "Endeavor" and... 'but failure to mall such notice shall impose no obligation or liability of any kind upon the company' must be deleted from the certificate. If your carrier or broker will not remove such language from the certificate, a separate endorsement requiring 3O-day notice of cancellation will be required. dl If the Subcontractor falls to secure and maintain the required Insurance. Conlractor shall have the right (without any obligation to do so, however) to secure same in the name and for the account of Subcontractor in which event the Subcontractor shall pay the costs thereof and furnish upon demand alllnfonnation that may be required In connection therewith. a} Contractor reserves the right, but shall have no obligation, to procure the Insurance, or any portion E .1 154 Contract # 4027138 Seaview Park Club The BG Group, LLC EXHIBIT "G" thereof, for which Subcontractor is herein responsible and which is described in this section. Contractor shall notify Subcontractor if Contractor exercises its right, whereupon Subcontractor's responsibility to cany such insurance shall cease and all the premiums and other charges associated with such insurance shall be refunded to the Contractor. Contractor further reserves the right at any time, with thirty (30) days written notice to Subcontractor, to require that Subcontractor resume the procurement and maintenance of any Insurance for which Contractor has elected to become responsible pursuant to this subsection; in such event, the sums paid to Subcontractor by Contractor shall increase to the extent of any previously agreed and implemented reduction (as noted above) attributable to Contractor's prior assumption of the particular insurance coverages. Such refund shall be equitably pro-rated based upon Subcontractor's completed work at the time of such adjustment. I) Contractor reserves the right, in its sole discretion, to require higher limits of liability coverage if, in Contractor's opinion, operations by or on behalf of Subcontractor create higher than normal hazards, and, to require Subcontractor to name additional parties In Interest to be Additional Insureds. gl In the event that rental of equipment is undertaken to complete and/or perform the work, Subcontractor agrees that It shall be solely responsible for such rental equipment. Such responsibility shall include, but not be limited to, theft. fire, vendallsm and use, including use by unauthorized persons, h) Nothing in this Exhibit shall reduce Subcontractor's obligations as set forth in the Indemnity provisions of the Contract. II In the event that materials or any other type of personal property ('personal property") is acquired for the Project or delivered to the Project site, Subcontractor agrees that it shall be solely responsible for such property until It becomes a fixture on the Project, or otherwise is installed and incorporated as a final part of the Project. Such responsibility shall Include. but not be limited to, theft, fire, vandalism, and use, Including use by unauthorized persons. j) Waiver of Subroaation. Subcontractor hereby waives all rights of recovery against Contractor and the Indemnitees, their partners, officers, directors, agents, representatives. employees, successors and assigns, with respect to any loss or damege, including consequential loss or damage. to the Subcontractor's property ceused or occasioned by any peril or perils covered under any policy or policies of property insurance carried by the Subcontractor. Subcontrector shall cause its Insurance carriers to consent to such waiver of subrogation, 6. ~ All Certificates of Insurance and required endorsements must be addressed and forwarded to: Lennar Corporation Insurance Compliance PO Box 12010.lC Hemet, CA 92546.8010 Phone: (909) 766-2274 Fax: (909) 766-2299 E,2 155 Contract # 4027138 Seaview Park Club The BG Group, LLC SUPPLEMENTARY CONDmONS These Supplementary Conditions amend or supplement the Standard General Conditions of the Construction Contract, Form EDCDC No. 1910-8 (1996 edition), ("General Conditions") and other provisions of the Contract Documents as indicated below and shall be controlling in the event of conflict, All provisions, which are not so amended or supplemented, remain in full force and effect. The General Conditions may also be supplemented elsewhere in the Contract Documents. The terms used in these Supplementary Conditions which are defined in the General Conditions have the meanings assigned to them in the General Conditions. ARTICLE 1 - DEANmONS AND TERMINOLOGY SC-1.01 Add the following to Paragraph 1.01: Bidder - Any individual, partnership, corporation or joint venture submitting a Bid for the Work to be performed, ARTICLE 2 - PREUMINARY MATTERS SC-2,03 Delete Paragraph 2,03 In Its entirety and replace with the following: The Contract Time will commence to run on the day indicated in the Notice to Proceed if a permit Is available. A Notice to Proceed may be given at any time within thirty days after the Effective Date of the Agreement. Under no conditions will the Work commence until the proper permits have been obtained by CONTRACTOR. SC-2.05B Amend Paragraph 2.05B, to read as follows: Within 10 days after the Effective Date of the Agreement (unless otherwise specified in the General Requirements or the Proposal Documents), CONTRACTOR shall submit to OWNER: SC-2,05C Amend Paragraph 2.05C, to read as follows: Before any Work at the site is started, the CONTRACTOR shall deliver to the OWNER, with copies to the ENGINEER, Certificates of Insurance (and other evidence of insurance requested by OWNER) which CONTRACTOR is required to purchase and maintain in accordance with ARTICLE S. ARTICLE 4 - AVAILABIlITY OF LANDS; SUBSURFACE AND PHYSICAL CONDmONS; REFERENCE POINTS SC-4,02B In the fifth line of Paragraph 4,02B, delete the following: "Such "technical data" is Identified In the Supplementary Conditions, Except for such reliance on such "technical data/,. ARTICLE 5 - BONDS AND INSURANCE SC-5,OlA At the beginning of the first line of Paragraph 5.01A, insert: "If required by the Contract Documents," SC-5.03 At the beginning of the first line of Paragraph 5.03, Insert: "Before any work at the site Is started/, SC-5,048-2 Delete Paragraph 5.048-2 in its entirety and replace with the following: Indude the specific coverages and be written for not less than the limits of liability provided in the Contract Documents or required by Laws or Regulations, whichever Is greater. Page 1 of 3 156 Contract # 4027138 Seaview Park Club The BG Group, LLC SC-5.04B-8 Add a new Paragraph 5.04B-8 which is to read: If using the "ACORD" form, the words "endeavor to" and "but failure to mail such notice shall impose no obligation or liability of any kind upon the company" must be omitted. SC-5.06A Delete Paragraph 5.06A in its entirety and replace with the following: The OWNER will not purchase and maintain property insurance on the Work. CONTRACTOR shall be responsible for risk of loss of all equipmen4 tools, materials, supplies, job trailers, motor vehicles, cranes and other equipment brought onto the job site. It shall bear the risk of loss of same, CONTRACTOR shall carry suitable insurance to protect against said risk of loss with specific reference to contract materials and supplies. SC-5.06E Delete Paragraph 5.06E in its entirety, ARTICLE 6 - CONTRACTOR'S RESPONSIBILITIES SC-6,06B In the first line of Paragraph 6,06B, replace: "Supplementary Conditions" with "Bid Form or Specifications, or if the Owner requires." SC-6,06 Add the following sub-paragraphs after Paragraph 6.06G: · SC-6,06H CONTRACTOR shall, within ten days, after written notification by OWNER, bond or discharge any liens filed against the property (at its expense) by any subcontractor or materialmen, In the event of any litigation brought by said subcontractors or materialmen, CONTRACTOR shall defend, at its expense, and indemnify OWNER from any judgment, interest, attorney's fees or court costs at trial or upon appeal, · SC-6.06I Prior to permitting any Subcontractor to prOvide service or any materialmen to provide supplies, CONTRACTOR will deliver to OWNER copies of written contracts for the subcontractors or materialmen with whom it contracts, SC-6.08 Add the following to Paragraph 6,08: CONTRACTOR shall obtain all construction permits and licenses, CONTRACTOR shall pay for all construction licenses, OWNER shall pay for all construction permits, SC-6,12 Delete Paragraph 6.12 in its entirety, Add the following sentence to the end of Paragraph 6.13B: SC-6,13B CONTRACTOR shall be responsible for paying any ensuing'fine or fines that are the result of the project being sited for OSHA violations, ARTICLE 8 - OWNER'S RESPONSIBILmES SC-8.D1 Delete Paragraph 8,01 in its entirety and replace with the following: OWNER shall issue all communications to CONTRACTOR directly or through ENGINEER. ARTICLE 9 - ENGINEER'S STATUS DURING CONSTRUmON SC-9,03B Add a new Paragraph 9.03B which is to read: If the ENGINEER furnishes a Resident Project Representative as per Article 9,3. of the General Conditions, the duties, responsibilities and limitations of authority will be as presented at the Pre-construction Conference and as memorialized by written memorandum thereafter from OWNER to CONTRACTOR. ARTICLE 13 - TESTS AND INSPEmONSi CORREmON, REMOVAL OR ACCEPTANCE OF DEFEcnvE WORK Page 2 of 3 157 Contract # 4027138 Seaview Park Oub The BG Group, llC SC-13.03A Add the following sentence at the end of Paragraph 13,03A: If the CONTRACTOR has given the ENGINEER notice of readiness of the Work for testing as required in Paragraph 13,3 and the Work fails to pass the test, CONTRACTOR shall bear the cost of all failing tests, SC-13 ,07 In the first line of Paragraph 13.07, replace "Substantial Completion" with "Final Payment" , ARTICLE 14 - PAYMENTS TO CONTRACTOR AND COMPLETION SC-14.02A-1 In the third line of Paragraph 14.02A-1, following "submit to", insert: "the OWNER with a copy to", SC-14.02C-2 After Paragraph 14,02C-2, add the following Paragraphs: However, OWNER shall have the right to pay directly any lienor, materialman, sub-contractor, or supplier at OWNER'S sole and absolute discretion and such payments shall be an offset against any amounts due CONTRACTOR, Additionally, OWNER may make payment to multiple- payees on any payment check and require the CONTRACTOR, his sub-contractor, materialmen and suppliers, to determine between themselves the entitlement to the funds and the OWNER shall be relieved of any other obligations in such event. SC-14,03 Delete Paragraph 14,03, and replace with the following: CONTRACTOR warrants and guarantees that title to all Work, materials and equipment covered by an Application for Payment, whether incorporated in the Project or not, will pass to OWNER at the time of payment free and clear of all liens (by partial lien waivers with each Application for Payment), claims, security Interests and encumbrances (hereafter in these General Conditions referred to as "Uens"). All material used or not used paid for by OWNER or not is still the CONTRACTOR'S responsibility for replacement until final total job acceptance of entire Contract, unless damaged by one of OWNER'S other contractors. SC-14,076-1 At the end of Paragraph 14.076-1, add: In addition to the approval of the ENGINEER, all required approvals and acceptances by regulatory and governing agencies having jurisdiction must be received by OWNER prior to Final Payment, Additionally, If OWNER was required to provide any fonn of surety to a regulatory or governmental agency to guarantee perfonnance of the Work, then CONTRACTOR must provide ENGINEER with all required documents in order to allow surety release prior to Final Payment, ARTICLE 15 - SUSPENSION OF WORK AND TERMINATION SC-15.02A-1 In the first line, of Paragraph 15.02A-1, delete the word "persistent." ARTICLE 16 - DISPUTE RESOLUTION SC-16,01 After Paragraph 16.01, add the following Paragraphs: · SC-16.02 The parties agree that civil discovery shall be available pursuant to the Federal Rules of Ovil Procedure. · SC-16.03 The parties agree that the prevailing party in any such arbitration proceeding shall be entitled to reasonable attorney's fees. · SC-16.04 Venue for any arbitration proceeding arising out of this Contract shall be in the County in which the work is performed, Page 3 of 3 158 REVOCABLE LICENSE AGREEMENT THIS IS A REVOCABLE LICENSE AGREEMENT granted this , 2006, by and between: day of Wayne Irving; Charlene Darst; Cannen Hubert Irving and Gail Ann Irving; Carmen Hubert Irving Revocable Trust, whose address is c/o Ken Kaleel, Kaleel & Associates, P.A" 555 N. Congress Avenue, Suite 301, Boynton Beach, Florida 33426 (hereinafter "LICENSOR"), and LENNAR HOMES, INC., a Florida corporation, whose address is 1015 North State Road 7, Suite C, Royal Palm Beach, Florida 33411 (hereinafter "LICENSEE"). WHEREAS, LICENSOR is the owner of real property, situated and being in Boynton Beach, Palm Beach County, Florida, as more particularly shown on the map attached hereto and made a part hereof as Exhibit "A" ("Licensor's Property" or "Seaview Park Club"); and WHEREAS, LICENSEE desires to demolish the existing structures and clear debris on the Seaview Park Club property; and WHEREAS, LICENSOR desires to grant this Revocable License to LICENSEE for the sole purpose of demolishing existing structures and the clearing of debris from the Seaview Park Club property; NOW, THEREFORE, in consideration of the mutual covenants and conditions contained in this Revocable License, and other valuable considerations, the adequacy and receipt of which are hereby acknowledged, the parties agree as follows: 1. The foregoing recitals are true and correct and are herein adopted, 2. The LICENSOR grants unto the LICENSEE a Revocable License to demolish existing structures and clear debris at LICENSEE'S sole cost and expense on the Seaview Park Club Property. 3. Unless otherwise agreed by the parties, LICENSEE agrees that with in sixty (60) days of the tennination of this Revocable License Agreement, LICENSEE shall remove all debris from the Licensed Premises and restore the Licensed Premises to a rough grade. 4, LICENSEE expressly acknowledges that it gains no property or contract right to the Licensed Premises other than those which are set forth herein, and further acknowledges that the License granted herein is revocable at the will of the LICENSOR and in the LICENSOR'S sole and unfettered discretion. - 1 - 159 5. LICENSEE agrees to indemnify and hold the LICENSOR harmless from any claim, injury, death, or property damage, directly or indirectly resulting from or arising out of Licensee's activities on the Licensed Premises. 6. LICENSEE at its sole cost and expense, shall carry or cause to be obtained, a policy of comprehensive liability insurance, which shall insure itself and LICENSOR against liability arising from the demolition of existing structures and debris removal on the Licensed Premises by LICENSEE or its contractors, agents, or business invitees resulting in bodily injury, death or property damage with companies having an "A" rating by Best. The insurance coverage against liability for bodily injury and/or death will not be less than One Million Dollars ($1,000,000.00) per occurrence. The amount of insurance for property damage shall be in an amount not less than One Million Dollars ($1,000,000.00). LICENSEE agrees to forward to LICENSOR, at least thirty (30) days prior to the expiration of the applicable and current insurance policy, a certificate of insurance indicating valid insurance coverage. 7, It is agreed that this Revocable License Agreement is granted to LICENSEE for LICENSEE'S sole benefit and that this Revocable License Agreement shall be construed in accordance with the laws of the State of Florida, Venue for purposes of any litigation shall be in Palm Beach County, Florida, 8. This Revocable License Agreement may be terminated by either party upon thirty (30) days written notice of revocation to the other party, or as otherwise agreed by the parties. Until terminated in this manner or by the mutual consent of the parties, the license granted herein shall continue. Upon termination of this Agreement, Licensee shall execute and deliver to Licensor a termination agreement in recordable form. 9, LICENSEE shall observe all local, state, and federal laws and ordinances, 10, Whenever any party desires to give notice unto any other party, it must be given by written notice, sent by certified United States mail, with return receipt requested, addressed to the party for whom it is intended and the remaining party, at the places last specified, and the places for giving of notice shall remain such until they shall have been changed by written notice in compliance with the provisions of this Paragraph. For the present, the parties designate the following as the respective places for giving notice, to-wit: LICENSOR: Wayne Irving; Charlene Darst; Carmen Hubert Irving and Gail Ann Irving; Carmen Hubert Irving Revocable Trust c/o Ken Kaleel Kaleel & Associates, P.A. 555 N. Congress Avenue, Suite 301 Boynton Beach, Florida 33426 LICENSEE: Leonar Homes, Inc. David M. Baselice 1015 North State Road 7, Suite C Royal Palm Beach, Florida 33411 - 2 - 180 11. This Revocable License Agreement shall not be recorded in the Public Records of Palm Beach County, Florida, If anybody who is a party to this Agreement records this Agreement in the Public Records, the parties agree to execute the documents necessary to remove this Revocable License Agreement from the Public Records. 12. This Revocable License Agreement shall be binding upon the parties' successors and assigns and shall inure to the benefit of the beneficiaries of LICENSOR. 13. In the event it becomes necessary to enforce this Revocable License Agreement in a legal proceeding, the prevailing party shall be reimbursed for reasonable attorney's fees and awardable courts costs at a trial or appellate level. TN WITNESS OF THE FOREGOING, the parties have set their hands and seals the day and year first written above. WITNESSES: WAYNE IRVING By: Name: STATE OF FLORIDA COUNTY OF ) ) The foregoing instrument was acknowledged before me this day of 2006, by , of This person is personally known to me or produced as identification, and did/did not take an oath. (SEAL) NOTARY PUBLIC State of Florida My Commission Expires: Commission Number: WITNESSES: CHARLENE DARST By: Name: - 3 - 161 STATE OF FLORIDA COUNTY OF ) ) The foregoing instrument was acknowledged before me this day of 2006, by , of This person is personally known to me or produced as identification, and did/did not take an oath, (SEAL) NOTARY PUBLIC State of Florida My Commission Expires: Commission Number: WITNESSES: CARMEN HUBERT IRVING By: Name: STATE OF FLORIDA COUNTY OF ) ) The foregoing instrument was acknowledged before me this day of 2006, by , of This person is personally known to me or produced as identification, and did/did not take an oath. (SEAL) NOTARY PUBLIC State of Florida My Commission Expires: Commission Number: -4- 182 WITNESSES: STATE OF FLORIDA COUNTY OF LENNAR HOMES, INC, By: Name: ) ) The foregoing instrument was acknowledged before me this day of by of Lennar Homes, Inc" corporation. This person is personally known to me or as identification, and did/did not take an oath. (SEAL) NOTARY PUBLIC State of Florida My Commission Expires: Commission Number: - 5 - 2006, a Florida produced 163 VII. OLD BUSINESS A. HOMEBUYERS ASSISTANCE PROGRAM- FINANCIAL ANALYSIS DISCUSSION (v'b ~v~ ~~ G ~~'v ~G~ o~ Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program February 2006 The Boynton Beach Community Redevelopment Agency (CRA) recognizes that the future economic health of the City depends upon the sufficient supply of housing priced for working families. As housing prices climbed by double digits in 2005-2006, many families were priced out of the housing market. The City of Boynton Beach receives State Housing Imitative Partnership Program (SHIP) dollars to provide down payment assistance to low and moderate income families. Due to rapid housing appreciation, the number of low and moderate income families who can afford to buy homes has decreased. In an effort to assist more families and to fully utilize the SHIP funds the CRA has implemented the Homebuyer Assistance Program. The program is designed to provide gap fmancing to those families that qualify for the City's SHIP Program but cannot qualify for a large enough mortgage to purchase a home. Program Guidelines 1. Funding is on a first-come, first-approved basis. 2. Applicants must meet all of the City of Boynton Beach's qualification criteria and have been approved for down payment assistance by the City. 3. Purchase Price New - Not to exceed $280,462 Existing - Not to exceed $280,462 Construction Loans- the cost of the lot awards are excluded from the CRA/City subsidy amount, but is included in the mortgage encumbrance. 4. Eligible Properties include single-family homes, including townhomes and condominiums located within the CRA. 5. Use of Funds a. Down payment and closing costs b. Rehabilitation costs (if required by code) 167 EXAMPLE OF CLARIFICATIONS Item 9: City and CRA funding should not exceed 50% of the purchase price for LOW income buyers. Example: Purchase Price of $280,000 (50% = $140,000) Maximum amount of City funding = $50,000. Maximum amount ofCRA funding = $50,000. Net purchase price $130,000 166 MEMO TO: FROM: CC: SUBJECT: DATE: CRA Board Robert Reardon, Interim Assistant Director Lisa Bright, Executive Director HOMEBUYER ASSISTANCE PROGRAM 3/9/2006 I was asked by Board member Barretta to give my opinion of the economic feasibility of the Homebuyer Assistance Program that is on the March 14th agenda as old business. My analysis is strictly financial, and does not speak to the merits of the program. The Board must remain aware of the inclusion of funds for this program in the Bond #2 proceeds; however, I do not believe the Board is bound to follow through with the program. The funds allocated for this program can also be redirected to HOB land acquisition or other housing related functions. With that being said, these are my conclusions: · Item 3 needs clarification regarding construction loans · Item 8 should include the word "all" adult members....... · Item 9 needs clarification regarding funding gap - should be clarified with examples · Item 10 needs clarification · Item 11 needs to be expanded as to what constitutes "first time home ownership" do we mean in Florida, or the U.S. What means will the CRA employ to ascertain the no previous ownership clause? Will we search for prior mortgages? Will we search for prior homesteading files? · Item 12 needs an Interlocal agreement with the City to address the two assumptions listed. If the City and the CRA both have interests in the gap funding why does item 12 state that the CRA alone will certify the new owner? In addition, we need to know the split with the City on the profits of a resale. What power does the CRA have if the profit from resale does not exceed the amount the City originally gave? What compels the City to split with us? · Item 13 should say "MUST" rather than "MA Y". If a homeowner is refinancing, they qualify, so we should get our money back for recycling to another recipient. · Item 14 is the hardest to track. What mechanism do we use to check the status of a recipient's whereabouts? Do we monitor the homesteading office at the County to ascertain if the homestead exemption has been removed from the first time home? Obviously I have some questions regarding the conditions for qualification to receive assistance. I have tried to illuminate my concerns, and I am willing to help rewrite, and reorder the program guidelines. I want to avoid posting guidelines on the WEB site that might cause confusion, or lead to misunderstandings. P165 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetin!! Dates Turned into CRA Office Meetin!! Dates CRA Office D January 10, 2006 December 27, 2005 (Noon.) D July 11, 2006 June 27, 2006 (Noon) D February 14, 2006 January 31, 2006 (Noon) D August 8, 2006 July 25, 2006 (Noon) . March 14, 2006 February 28, 2006 (Noon) D September 12, 2006 August 29,2006 (Noon) D Apri] II, 2006 March 28, 2006 (Noon) D October 10, 2006 September 26, 2006(Noon) D May 9, 2006 April 25, 2006 (Noon) November ]4,2006 October 3],2006 (Noon) D June 13,2006 May 25,2006 (Noon) December 12,2006 November 28,2006 (Noon) NATURE OF AGENDA ITEM D Consent Agenda D Director's Report D Old Business D New Business . Legal o Future Agenda Items o Other Item DATE: March 6, 2006 SUBJECT SUMMARY PARAGRAPH: I was asked by the Board to give my opinion of the HOMEBUYERS ASSISTANCE PROGRAM, which is attached for your inspection. I will be glad to explain my concerns, and Vivian will also contribute to the discussion. RECOMMENDATION: Allow staff to discuss concerns and solutions so the program can go forward. FISCAL IMPACT/FUNDING SOURCE: Funds already budgeted for this program from proceeds of Bond #2 ALTERNATIVES: Do not approve Id4I Lj~l/ CRA STAFF: T:\AGENDAS, CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Agenda Item Request Form Template.doc P164 2 6. Families with dependent, minor children will receive preference. . 7. Persons working within Boynton Beach will receive preference. 8. Income from adult members of the household will be included in the computation of gross income. 9. City and CRA funding shall not exceed 40% of the purchase price and ~~ maximum amount of funding shall be $50,000. The actual amount of funding awarded shall depend upon the funding gap. In no case shall funding be awarded above the funding gap amount. Rrehabilitation expenses related to bringing the home up to code may be included up to $50,000. 10. Projected housing costs, including mortgage, interest, taxes, insurance and homeowners association fees shall not exceed 30% of gross household income. The maximum total debt ratio (total housing expenses plus other monthly debt obligations) shall not exceed 45%. II. Applicants must be first time homebuyers, with no previous homeownership within the past three years at the time of application. 12. Funds shall be in the fonn of a 0% third mortgage behind the City of Boynton Beach. Repayment of the funds will not be required if the home is resold to an income qualified buyer. Income qualification shall be certified by the City of Boynton Beach Community Improvement Division. Resale to a non-income qualified buyer will require the homeowner to evenly split the difference between the original sales price and the new sales price with the City and the CRA. Funds shall be due on closing. 13. Refmancing of the property may result in repayment of CRA funds with interest accrued at 4% per annum. Refinancing of the property may be permitted in special circumstances with prior written approval from the City and CRA. 14. Families who receive CRA Homebuyers Assistance shall occupy the residence. If the residence is leased and no longer occupied by the recipient of CRA funds, all CRA funds plus interest at 4% from the time of purchase shall become due and payable in full. The offering of the program is no guarantee of funding. All decisions are subject to approval of the CRA Board of Directors. T:\GRANTS\Home Buyer Assistance\Homebuyer Assistance Program Guidelines.doc 168 ~~tO ~~v G~ ~Q~Q ~~ ~ Boynton Beach Community Redevelopment Agency Homebuyer Assistance Program February 2006 The Boynton Beach Community Redevelopment Agency (CRA) recognizes that the future economic health of the City depends upon the sufficient supply of housing priced for working families. As housing prices climbed by double digits in 2005-2006, many families were priced out of the housing market. The City of Boynton Beach receives State Housing Imitative Partnership Program (SHIP) dollars to provide down payment assistance to low and moderate income families. Due to rapid housing appreciation, the number of low and moderate income families who can afford to buy homes has decreased. In an effort to assist more families and to fully utilize the SHIP funds the CRA has implemented the Homebuyer Assistance Program. The program is designed to work in tandem with the City's SHIP Down payment Assistance Program by providing gap financing to families that qualify for the City's SHIP Program but carmot qualify for a large enough mortgage to purchase a home. Program Guidelines 1. Funding is on a first-come, first-approved basis. 2. Applicants must meet all of the City of Boynton Beach's qualification criteria for the SHIP Down payment Assistance Program and be approved for down payment assistance by the City. 3. Purchase Price New - Not to exceed $280,462 Existing - Not to exceed $280,462 New Home Construction Loans- the value of the City/CRA lot awarded to homebuyer is excluded from the CRA/City subsidy amount, but is included in the permanent mortgage encumbrance 4. Eligible Properties include existing, single-family homes, construction of new single-family homes, townhomes and condominiums located within the CRA. 169 2 5. Use of Funds a. Down payment and closing costs. b. Rehabilitation costs (if required to bring the home up to code) 6. Families with dependent, minor children will receive preference. 7. Persons working within Boynton Beach will receive preference. 8. Income from all adult members of the household will be included in the computation of gross income. 9. City and CRA funding shall not exceed 40% for mogerate income buyers and 50% for low income buyers of the purchase pri~e. The actual amount of funding awarded shall depend upon the funding gap. In no case shall CRA funding be awarded above the funding gap amount or $50,000.00. Rehabilitation expenses related to bringing the home up to code may be included up to $50,000. Example # 1 : Moderate Income Household Purchase Price of Home Closing Costs Maximum Mortgage Amount City's Maximum SHIP Down payment Funding Gap Percent of Public Subsidy Example #2 Low Income Household Purchase Price of Home Closing Costs Maximum Mortgage Amount City's Maximum SHIP Down payment Funding Gap Percent of Public Subsidy $ 60,000 $280,000 $ 5,000 $213,771 $ 50,000 $ 21,229 25% $ 40,200 $280,000 $ 5,000 $164,700 $ 75,000 $ 45,300 43% 10. Projected housing costs, including mortgage, interest, taxes, insurance and homeowner's association fees shall not exceed 35% of gross household income or whatever the primary lender determines. The maximum total debt ratio (total housing expenses plus other monthly debt obligations) shall not exceed 45% of income. 170 C:\Documents and Settings\reardonr\Local Settings\Temporary Intemet Files\OLK7 A\Homebuyer Assistance Program Guidelines.doc 3 Example # 1 Moderate Income Gross Monthly Income Mortgage Payment (inc!. taxes & insurance) Other Debt Housing Expense Ratio (not to exceed 35%) Overall Debt Ratio Example #2 Low Income Gross Monthly Income Mortgage Payment (inc!. taxes & insurance) Other Debt Housing Expense Ratio Debt Ratio $60,000 $ 5,000 $ 1,282 $ 500 27% 35% $ 40,200 $ 3,350 $ 987 $ 300 29% 38% 11. Applicants must be first time homebuyers, with no previous homeownership within the past three years at the time of application. First time home buyer status shall be determined by reviewing the three consecutive years of Federal Income tax returns. 12. Funds shall be in the form of aO% third mortgage behind the City of Boynton Beach's encumbrance. Repayment of the CRA funds will not be required if the home is resold to an income qualified buyer. Income qualification of the new buyer shall be certified by the City of BOyTIton Beach Community Improvement Division and forwarded to the eRA prior to closing. Resale to a non-income qualified buyer will require repayment oftbe CRA subsidy amount plus twenty-five percent (25%) ofthe difference between the original purchase price and the resealed price due at closing. 13. Refinancing of the. Pfcperty will result in repayment of CRA funds with interest accrued at 4% per ~um. Refinancing ofthe property may be permitted in special circumstances with prior written approval from the City and CRA. 14. Families who receive CRA Homebuyers Assistance shall occupy the residence for the term of the first mortgage. If the residence is leased and no longer occupied by the recipient of CRA funds, all CRA funds plus interest at 4% annum from the time of purchase shall become due and payable in full. Families that receive assistance shall submit proof of residency to the City and CRA annually by the anniversary of the closing date. The accepted form of proof is a utility bill showing the program recipients name and address. Failure to comply will result in the CRA funds becoming due and payble. The offering of the program is no guarantee of funding. All decisions are subject to approval of the CRA Board of Directors. 171 C:\Documents and Settings\reardonr\Local Settings\Temporary Internet Fi]es\OLK7A\Homebuyer Assistance Program Guidelines.doc Don't miss your opportunity to help decide what's next! Join us for an sponsored by the Boynton Beach Community Redevelopment Agency at The Boynton Beach Library meeting room Stop in anytime! from Thursday, March 16. 5.8 P Friday, March 17 · 2.4 P Saturday, March 18 · 11 a.2 p 173 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested eRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetin!! Dates Turned into CRA Office Meetin!! Dates CRA Office D January 10, 2006 December 27,2005 (Noon.) D Ju]y ] ], 2006 June 27,2006 (Noon) . February 14,2006 January 31, 2006 (Noon) 0 August 8, 2006 July 25, 2006 (Noon) D March 14,2006 February 28, 2006 (Noon) 0 September 12, 2006 August 29, 2006 (Noon) D Aprilll, 2006 March 28, 2006 (Noon) D October 10, 2006 September 26, 2006(Noon) D May 9, 2006 April 25, 2006 (Noon) EJ November 14,2006 October 31, 2006 (Noon) 0 June 13,2006 May 25, 2006 (Noon) 0 December ] 2, 2006 November 28,2006 (Noon) NATURE OF AGENDA ITEM o Consent Agenda D Director's Report o Old Business D New Business . Legal o Future Agenda Items D Other Item DATE: March 5,2006 SUBJECT SUMMARY PARAGRAPH: The CRA purchased the Old High School from the City in FY 2005. It is the CRA Board's intent to seek public input for the Adaptive Re-use of the facility through a Request for Proposal (RFP) process. Previously the board had appropriated monies for an independent entity to direct this process on behalf of the CRA. In January of 2005, Corey O'Gorman presented an evaluation and concept to the City for the development of a "Town Square." His work on the Town Square Implementation Plan not only made Mr. O'Gorman the natural choice to lead the CRA through the RFP process, but also his expertise in planning is invaluable to include the surrounding parcels of the Old High School. RECOMMENDATION: Corey will present a status report and timeline for the Adaptive Re-use of the Old High School. FISCAL IMPACT/FUNDING SOURCE: None. ALTERNATIVES: Do not listen. CRA STAFF: T:\AGENDAS. CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Agenda Item Request Forms\06 03 14 CRA Board Meeting\Old High School Update-3-14-06.doc 172 VII. OLD BUSINESS B. UPDATE ADAPTIVE RE-USE OF THE OLD HIGH SCHOOL - PRESENTED BY: COREY O'GORMAN VII. OLD BUSINESS C. MARINA PARKING EASEMENT AGREEMENT BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetin!! Dates Turned into CRA Office Meetin!! Dates CRA Office D January 10, 2006 December 27, 2005 (Noon.) D July 11, 2006 June 27, 2006 (Noon) CJ February 14,2006 January 31,2006 (Noon) D August 8, 2006 July 25, 2006 (Noon) . March 14,2006 February 28, 2006 (Noon) D September 12, 2006 August 29, 2006 (Noon) D Apri] 11, 2006 March 28, 2006 (Noon) D October 10, 2006 September 26, 2006(Noon) D May 9, 2006 Apri] 25, 2006 (Noon) rEI November 14, 2006 October 31, 2006 (Noon) D June 13, 2006 May 25, 2006 (Noon) LJ December 12,2006 November 28, 2006 (Noon) NATURE OF AGENDA ITEM D Consent Agenda D Director's Report . Old Business D New Business 1!01 t;;.J D o Legal Future Agenda Items Other Item DATE: March 9, 2006 SUBJECT SUMMARY PARAGRAPH: In 2004, the CRA Board in Bond #1 pledged to purchase the Two Georges Marina and provide our community with public access to the waterfront. At the CRA Board Meeting of December 15, 2005, a purchase agreement was approved and staff directed to work with CRA legal counsel to facilitate the closing. The attached "Grant of Easement" provides direction to the CRA and DSS properties with regard to necessary parking arrangements for the marina area. RECOMMENDATION: Approve the Grant of Easement. FISCAL IMPACT/FUNDING SOURCE: None. ALTERNATIVES: Not approve. CRA STAFF: ~~c9 T:\AGENDAS, CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Agenda Item Request Forms\06 03 14 CRA Board Meeting\Marina Easement-3-14-06.doc 174 PREPARED BY /RETURN TO: Amy M. Dukes, Esq. Lewis, Longman & Walker, P.A. 1700 Palm Beach Lakes Boulevard, Suite 1000 West Palm Beach, Florida 33401 GRANT OF EASEMENT THIS EASEMENT, granted this _ day of ,2006, by and between Boynton Beach Community Redevelopment Agency, a public agency created pursuant to Chapter 163, Part III, Florida Statutes (hereinafter "CRA") and DSS Properties, L.c., a Florida limited liability company (hereinafter "DSS"). WHEREAS, CRA is the fee owner of certain real property being, lying and situate in Palm Beach County, Florida, more fully described in Exhibit A attached hereto (the "Premises") and made a part hereof; and WHEREAS, CRA intends to grant an easement to DSS over the area described in Exhibit B (the "Easement Area") upon the terms and conditions as contained herein; and WHEREAS, DSS intends to accept an easement from eRA on the terms and conditions as contained herein. NOW THEREFORE, for and in consideration of the sum often dollars ($10.00) and other good and valuable consideration, receipt of which is hereby acknowledged, CRA hereby grants to DSS and its successors and assigns, an Easement ("Easement") over the Easement Area, for the purpose of parking, maintaining of a dumpster, ingress, and egress to enter upon the above-described lands and to operate and maintain these lands in accordance with this Easement for 99 years as more fully set forth below. The parties hereto agree as follows: This Easement granted herein is subject to the following terms and limitations: 1. TERM. CRA grants an easement to DSS for the above-described Easement Area (see Exhibit B) together with any and all appurtenances thereto, for a term of ninety-nine (99) years, such term beginning on , 2006, and ending at 12 o'clock midnight on , 2105. The term may be renewed upon a one-year written notice to the CRA for an additional 99-year term and upon the same terms and conditions set forth herein, unless such terms are otherwise amended in writing by CRA and DSS before or at the expiration of this Easement. 2. RENT. The total rent for the term hereof is the sum of TEN DOLLARS ($10.00) payable upon execution hereof. 175 3. USE OF PREMISES. The Premises shall be used and occupied by DSS for parking and dumpster purposes that are permitted by this Easement, the City of Boynton Beach and the State of Florida, and as outlined on the attached Exhibit B. DSS shall comply with any and all laws, ordinances, rules and orders of any and all governmental or quasi-governmental authorities. The parking areas of the Easement Area shall not be modified by CRA, its successors or assigns, in any manner which adversely affects the use for which this Easement has been granted, without the prior written consent and approval ofDSS. 4. CONDITION OF PREMISES. DSS stipulates, represents and warrants that DSS has examined the Easement Area, and that it is at the time of this Easement in good order, repair, and in a safe, clean and tenantable condition, with the exception of the ongoing construction of the project known as Marina Village, located directly north of the Premises. 5. ASSIGNMENT AND SUB-LETTING. DSS shall not assign this Easement, or sub-let or grant any license to use the Easement Area or any part thereof without the prior written consent of CRA which shall not be unreasonably withheld. Consent by CRA to one such assignment, sub-letting or license shall not be deemed to be a consent to any subsequent assignment, sub-letting or license. In the event that DSS assigns, sub-lets or grants any license to use the Easement Area or any part thereof without the prior written consent of CRA, DSS shall notify CRA in writing within fifteen (15) days of such assignment, sub-lease or grant oflicense and shall seek written consent ofCRA. In the event that DSS inadvertently fails to obtain prior written consent and CRA notifies DSS of such failure, DSS shall formally seek the written consent of the CRA within fifteen (15) days of CRA's notification. If DSS fails to obtain said written consent within the given time frame, the assignment, sub-lease or grant of license shall be absolutely null and void. Notwithstanding the foregoing, CRA shall not object to any assignment of this Easement, sublease or grant of license to use the Easement Area to any family member of the DSS' principal owners as of the effective date of this Grant of Easement so long as DSS notifies CRA in writing within 15 days following such assignment, grant or sublease, and so long as the use proposed by any such family member is consistent with the uses prescribed pursuant to this Grant of Easement. 6. ALTERATIONS AND IMPROVEMENTS. DSS shall make no alterations to the improvements within the Easement Area or Premises or construct any building or make any other improvements within the Easement Area or Premises without the prior written consent of CRA. Any and all alterations, changes, and/or improvements built, constructed or placed within the Easement Area or Premises by DSS shall, unless otherwise provided by written agreement between CRA and DSS, be and become the property of CRA and remain on the Easement Area or Premises at the expiration or earlier termination of this Easement. 2 176 7. PARKING AND DROP OFF LANE. There will be a drop-off lane consisting of a center drive aisle with an adjacent north and south parking area as designated on the attached Exhibit B. The center drive aisle will not be used for parking and shall be kept clear for traffic and valet queuing. The north side will be used exclusively for Two Georges Restaurant parking. The south side will be used for a maximum of 15-minute drop-off from 6:00 AM to 6:00 PM for marina use and thereafter as Two Georges Restaurant parking. 8. ENFORCEMENT OF PARKING. Signs regarding the drop-off lane and parking restrictions for the area north of the drop-off lane, as outlined above in Paragraph 7, must be prepared and paid for by DSS and approved by CRA and in place within 30 days of entering into this Easement, unless extended in writing by CRA. CRA shall prepare, pay for and have in place, within 30 days of entering into this Easement, signs regarding the restrictions outlined in Paragraph 7 hereto for the parking south of the drop-off lane. DSS and CRA shall coordinate on choosing a vendor for the signs. CRA will monitor and seek City of Boynton Beach Police enforcement of the parking rules as set forth herein. Any violators will be ticketed and/or towed. 9. USE OF DUMPSTER. DSS shall have use of the dumpster site, identified on Exhibit B. DSS is responsible for collection of the trash within its dumpster, keeping all trash inside the dumpster, and keeping it clean and free of odor, but shall not be responsible for the trash deposited by CRA's other tenants. CRA shall place, after receiving all necessary governmental approvals, a second dumpster within the Easement Area, near the existing dumpster, for CRA's other tenants. CRA's dumpster will be maintained by CRA. The placement of CRA's dumpster shall result in the loss of one parking space by DSS, and, therefore, CRA shall secure replacement parking for DSS in the parking garage to be constructed as part of the Marina Village project located to the north of the Premises. to. MAINTENANCE. The Easement Area will be maintained by the CRA and/or by others with fmancial contribution by the CRA as DSS' successor under the Amended Declaration of Reciprocal Easements recorded in Official Record Book 19792, Page 0811, Public Records ofPalm Beach County, Florida and except for the maintenance of DSS' dumpster as outlined in paragraph 9 hereto. 11. HAZARDOUS MATERIALS. DSS shall not keep within the Easement Area any item of a dangerous, flammable or explosive character that might unreasonably increase the danger of fire or explosion within the Easement Area or that might be considered hazardous or extra hazardous by any responsible insurance company. 3 177 12. INSURANCE. DSS shall maintain a comprehensive general liability insurance policy with limits of not less that One Million ($1,000,000.00) Dollars for injury or death from one accident and Five Hundred Thousand ($500,000.00) Dollars property damage insurance, insuring CRA (listed as an additional insured) and DSS against injury to persons or damage to property on the Easement Area only. A copy of the policy or certificate of insurance shall be delivered to CRA on or before the commencement date of this Easement. 13. INSPECTION OF PREMISES. CRA and CRA's agents shall have the right at all reasonable times during the term of this Agreement and any renewal thereof to enter the Easement Area for the purpose of inspecting the Easement Area, and for the purposes of making any repairs, additions or alterations as may be deemed appropriate by eRA for the preservation of the Easement Area, so long as CRA provides DSS with reasonable notice when necessary and such entry does not interfere or interrupt DSS' business operations. The right of entry shall likewise exist for the purpose of removing placards, signs, fIXtures, alterations or additions that do not conform to this Easement or to any restrictions, rules or regulations affecting the Easement Area. 14. SURRENDER OF PREMISES. Upon the expiration of the term hereof, DSS shall surrender the Easement Area in as good a state and condition as they were at the commencement of this Easement, reasonable use and wear and tear thereof and damages by the elements excepted. 15. QUIET ENJOYMENT. DSS, upon payment of all of the sums referred to herein as being payable by DSS and DSS's performance of all DSS's agreements contained herein and DSS's observance of all rules and regulations, shall and may peacefully and quietly have, hold and enjoy said Easement Area for the term hereof. 16. INDEMNIFICATION. CRA shall not be liable for any damage or injury of or to DSS, DSS' family, guests, invitees, agents or employees or to any person entering the Easement Area, or to goods or equipment which was caused by the intentional, grossly negligent and/or negligent conduct or action of any of DSS' guests, invitees, agents or employees, including but not limited to DSS' valet workers, and DSS hereby agrees to indemnify, defend, save and hold CRA harmless from any and all claims or assertions. 17. DEFAULT. IfDSS fails to comply with any of the material provisions of this Easement, or materially fails to comply with any duties imposed on DSS by statute or other applicable regulation, CRA shall deliver notice to DSS specifying the non-compliance and indicating the corrective action to be taken by DSS. DSS shall be provided a reasonable time to commence corrective action with reasonable diligence. In the event that DSS fails to take corrective action, CRA may terminate this Easement, provided however, that a dispute 4 178 over corrective action shall be resolved in accordance with the provisions of Paragraph ..f2-herein. 18. ABANDONMENT. If at any time during the term of this Easement, DSS abandons the Easement Area for a period of six (6) consecutive months or more, ,CRA may, at CRA's option, obtain possession of the Easement Area in the manner provided by law, and without becoming liable to DSS for damages or for any payment of any kind whatsoever. DSS shall not be deemed to have abandoned the Easement Area in the event that DSS cannot occupy the Easement Area due to fire or natural disaster or during the restaurant's reconstruction or remodeling projects, if any. In the event of abandonment, CRA may, at CRA's discretion, as agent for DSS, re-let the Easement Area, or any part thereof, for the whole or any part thereof, or for the whole or any part of the then unexpired term, and may receive and collect all rent payable by virtue of such re-letting. If CRA's right of reentry is exercised following abandonment of the Easement Area by DSS, then CRA shall consider any personal property belonging to DSS and left on the Easement Area to also have been abandoned, in which case CRA may dispose of all such personal property in any manner CRA shall deem proper and CRA is hereby relieved of all liability for doing so. 19. TERMINAnDN OF EASEMENT. If at any time durlIlg the \elll1 of Ihis LascmcnL the parties detcrmino: that the Easo:mcl1t is no IOl1l2;cr no:o:cled for th~ lIses oLltllne herein. Ihe pm1ies may execute a lamination of the Easement and record such tennination in the Public R.c:cords of Palm BCLlCh Counly. Florida, JQ. DISPUTE RESOLUTION. In the event that a dispute arises between eRA and DSS regarding the terms of this Easement which cannot be resolved between them, any such dispute shall be settled by binding arbitration conducted in accordance with then prevailing rules of the American Arbitration Association. The arbitration shall be conducted in Palm Beach County, Florida. The prevailing party in such arbitration shall be awarded its costs incurred therein, including reasonable attorneys' and paralegals' fees. JJ.. ATTORNEYS' FEES. In the event a party institutes any legal action or proceeding for the enforcement of any right or obligation herein contained or for damages on account of any breach of this Easement, the prevailing party after final adjudication shall be entitled to recover from any other party, in addition to any damages or other relief granted as a result of such action or proceeding, all costs and expenses of such action or proceeding and all its costs and reasonable attorneys' fees and expenses incurred in the preparation and prosecution of such action or proceeding, including but not limited to all costs, fees and expenses incurred at trial and all appellate levels. .,g. RECORDING OF AGREEMENT. This Easement shall be recorded in the Public Records of Palm Beach County. 5 179 L Deleted: 19 Deleted: or if the easement is no longer needed for the uses outlined herein. {-_.~--~-- -~- i Formatted: Font: Bold "-~_..~-~--- Deleted: 19 Deleted: 20 Deleted: 2 1 ,bi. GOVERNING LAW. This Easement S.l1all be governed, construed and interpreted by, through and under the Laws of the State of Florida. M. SEVERABILITY. If any provision of this Easement or the application thereof shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this Easement 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. ~. ~~ND~G ,E;F'FEC:r~ }be . covenants, oblig~tions and conditions herein contained shall be binding on and inure to the benefit of the heirs, legal representatives, and assigns of the parties hereto. ~. DESCRIPTIVE HEADINGS. The descriptive headings used herein are for convenience of reference only and they are not intended to have any effect whatsoever in determining the rights or obligations of the CRA or DSS. n. CONSTRUCTION. The pronouns used herein shall include, where appropriate, either gender or both, singular and plural. ~. NON-WAIVER. Neither the failure of a party to insist upon a strict performance of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance of any item by a Party with knowledge of a breach of this Easement 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 and conditions. .rt. MODIFICATION. The parties hereby agree that this document contains the entire agreement between the parties and this Easement shall not be modified, changed, altered or amended in any way except through a written amendment signed by all of the parties hereto. .2Q. TERM/ASSIGNMENT TO CITY. Unless otherwise terminated pursuant to the terms herein, this Easement shall be in full force and effect until the term as set forth herein expires. If the eRA has been dissolved as an entity while this Easement, and/or the attached Purchase Agreement, are in effect, the City of Boynton Beach will automatically take over all rights and responsibilities under this Easement. 6 180 ( Deleted: 22 C Deleted: 23 j ( Deleted: 24 -J ~:2S ( Deleted: 26 l Deleted: 27 J l Deleted: 28 (~-;d729---J IN WITNESS WHEREOF, CRA has executed this instrument or caused the same to be executed by their representatives, there unto duly authorized on the day and year first above written. Witness: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY By: Witness: Its: STATE OF FLORIDA COUNTY OF BEFORE ME, the undersigned authority, duly authorized to take oaths, appeared , who is personally known to me or who has produced foregoing instrument. SWORN TO AND SUBSCRIBED BEFORE ME this _ day of as identification and has signed the ,2006. Notary Public My commission expires: Printed Name of Notary Public 7 181 Witness: DSS PROPERTIES, L.C. By: Its: Witness: STATE OF FLORIDA COUNTY OF BEFORE ME, the undersigned authority, duly authorized to take oaths, appeared , who is personally known to me or who has produced instrument. as identification and has signed the foregoing SWORN TO AND SUBSCRIBED BEFORE ME this _ day of 2006. Notary Public My commission expires: Printed Name of Notary Public 1:IClient DocumentslBoynton Beach CRA \2419-000IMiscIMarina Easemenl.doc 8 182 VII. OLD BUSINESS D. MLK SELF ASSEMBLY UPDATE BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetin!! Dates Turned into CRA Office Meetin!! Dates CRA Office D January 10, 2006 December 27,2005 (Noon.) D July 1 1. 2006 June 27,2006 (Noon) February 14, 2006 January 31, 2006 (Noon) D August 8, 2006 July 25, 2006 (Noon) . March 14,2006 February 28,2006 (Noon) D September 12,2006 August 29, 2006 (Noon) D April II, 2006 March 28, 2006 (Noon) D October 10, 2006 September 26, 2006(Noon) D May 9, 2006 April 25, 2006 (Noon) D November 14,2006 October 31, 2006 (Noon) D June 13,2006 May 25, 2006 (Noon) D December 12, 2006 November 28,2006 (Noon) NATURE OF AGENDA ITEM o Consent Agenda o Director's Report . Old Business D New Business D Legal o Future Agenda Items o Other Item DATE: March 8,2006 SUBJECT SUMMARY PARAGRAPH: At the February 14th CRA Board meeting, the Board directed staff to work with the HOB Phase I Self-Assembly group to come up with a development proposal. The Board also wanted monthly updates of the progress of the group. The group met with Quintus Greene, Director of Development for the City to discuss getting the Self-Assembly development proposal on the City Commission agenda on April 4th. If the City supports the concept, the Self- Assembly group will proceed with a site plan and feasibility analysis which will be brought to the CRA Board for review. The CRA attorney has drafted the Letter of Intent. The property owners are meeting to review the Letter for content. RECOMMENDATION: Continue to work with the Self-Assembly group to create a development proposal that reflects the goals and objectives of the Heart of Boynton Redevelopment Plan. FISCAL IMPACT/FUNDING SOURCE: To date the only expense has been legal for drafting the Letter of Intent. Potential expenses include site planning fees, renderings and financial feasibility analysis. These expenses can be paid through Bond I and Bond II revenue. ALTERNATIVES: Do not continue to work I Self-Assembly group and issue an RFP for development of the site. eRA STAFF: ViVIan L. Brooks CRA Planning Director T:\DEVELOPMENT\HOB\HOB Self-Assembly\Boardupdate.doc 183 BOYNTON BEACH CRA AGENDA ITEM REQUEST FORM Requested CRA Date Final Materials Must be Requested CRA Date Final Materials Must be Turned into Meetinl! Dates Turned into CRA Office Meetinl! Dates CRA Office D January 10,2006 December 27,2005 (Noon.) D July 11,2006 June 27, 2006 (Noon) D February 14,2006 January 31, 2006 (Noon) D August 8, 2006 July 25, 2006 (Noon) . March 14,2006 February 28, 2006 (Noon) D September 12,2006 August 29,2006 (Noon) D April 11, 2006 March 28, 2006 (Noon) D October 10,2006 Septernber26,2006QNoon) D May 9, 2006 April 25, 2006 (Noon) 0 November 14,2006 October 31, 2006 (Noon) D June 13,2006 May 25,2006 (Noon) D December 12,2006 November 28, 2006 (Noon) NATURE OF AGENDA ITEM D Consent Agenda D Director's Report . Old Business D New Business D Legal D Future Agenda Items D Other Item DATE: March 8, 2006 SUBJECT SUMMARY PARAGRAPH: The CRA has received a request from the principals of Ocean One to approve an incentive package for a mixed-use redevelopment project which includes a transfer ofCRA owned property, a transfer of the four condominium units in the First Financial Center which are to be acquired by the City through eminent domain or purchase, and a Direct Incentive Grant of TIF revenues. RECOMMENDATION: The CRA contribution to the project under the proposal would consist of: 1. The contribution of the Relax Inn Property; 2. A contribution of any City sidewalk and street rights of way located within the Ocean One Project Site 3. The contribution of First Financial Center Office Condominium units (4) that will be acquired by the City through eminent domain. In addition, the CRA is being asked to contribute 100% of all TIF revenues generated by the project for thirty years. FISCAL IMPACT/FUNDING SOURCE: The reduction of the value ofCRA assets with the contribution of the Relax Inn Site is approximately $900,000.00. The costs of eminent domain and/or purchase of the four condominium units, and the ultimate transfer to Ocean One is uncertain at this time. However, those costs are estimated to be $1 million to $1.5 million dollars. Finally, the grant of 100% of all TIF revenues is estimated at $117,982,107 (based on the developer's value and TIF analysis) over the life of the project. The net present value (NPV) is in excess of $30 million. The developer contends that the economic value of the benefits of the project including parking has a NPV of $28,369,745. ALTERNATIVES: Do not approve eRA STAFF: k jJ,. J_l--~ ' Lisa Bri:~~ Dire~tor T:\AGENDAS, CONSENT AGENDAS, MINUTES & MONTHLY REPORTS\Agenda Item Request Forms\06 03 14 CRA Board Meeting\Ocean 1 TIF Incentive Program.doc 184 Marinus Real Estate Company, LLC 639 East Ocean Avenue, Suite 406 Boynton Beach, FL 33435 Tel. (561) 732-1000 March 6, 2006 Chairman Jeanne Heavilin and Members of the Board Community Redevelopment Agency City of Boynton 639 East Ocean Avenue, Suite 103 Boynton Beach, FL 33435 Re: Ocean One Community Redevelopment Project: proposed incentive package Dear Chairman Heavi1in and Members of the Board: This letter is presented to the Boynton Beach Community Redevelopment Agency by Marinus Real Estate Company, LLC on behalf of a to-be-formed business entity to serve as the developer of a community redevelopment project known as Ocean One ("Ocean One"). This is a formal request for financial support and incentives necessary to make the Ocean One project economically feasible. We believe that Ocean One offers the Boynton Beach CRA a package of public benefits which are of significant value to the CRA and to the community at large. While there are multiple benefits generated by the proposed redevelopment project, the singularly most important benefit is the provision of parking spaces open to the public with a functional capacity of a public parking garage of at least 400 spaces. Ocean One believes that the value ofthe public parking spaces alone exceeds the cost of the proposed financial support and incentives program. Our proposal contains detailed analyses of the proposed incentive package which we believe demonstrate that the proposed incentive package is justified by the public benefits from the project. More importantly, the reality for Ocean One is that the cost ofland assembly and the provision of public parking spaces is not economically feasible under current and foreseeable market conditions in South Florida and the City of Boynton Beach without the incentives which we have proposed. We look forward to meeting with you to present our proposal to you and the public and appreciate your prompt consideration of our proposal. Very truly yours, Pryse E1am F or Ocean One 185 Ocean One Proposed eRA Incentive Package EXECUTIVE SUMMARY Ocean One proposes to assemble the individual properties within the Ocean One Project Site and to develop a mixed use redevelopment project containing: · 530 residential units · 37,477 square feet of retail floor area · 143,016 square feet of office floor area · 120 hotel rooms · 1,500 parking spaces Ocean One proposes that the proposed community redevelopment project provides the Boynton Beach CRA with multiple benefits which go far beyond the advantages contemplated in the Boynton Beach CRA's prior Direct Incentives Program. Given market conditions and the public benefits created by Ocean One, Ocean One proposes that the Boynton Beach CRA provide incentives in support of Ocean One in the form of: · a contribution of the Relax Inn Property; · a contribution of any City sidewalk and street rights of way located within the Ocean One Project Site; · a contribution of any First Financial Center Office Condominium units that are acquired by the City through eminent domain; · an allocation of tax increment revenue generated by Ocean One to Ocean One as follows: o The amount previously available under the prior Direct Incentive Program: forty five percent (45%) of the Tax Increment generated by Ocean One during the first ten (10) years; o The balance of the remaining Tax Increment generated by Ocean One: fifty-five percent (55%) during the first 10 years; and o One hundred percent (100%) of the Tax Increment generated to the Boynton CRA by Ocean One during years 11 through 30. Ocean One estimates the economic value of the benefits to the Boynton Beach CRA are greater than the value of the proposed incentives which are significantly less than the cost to the Boynton Beach CRA, if the CRA would construct a free-standing public parking garage: . Incentives from Boynton Beach CRA Economic value of Ocean One benefits Cost to eRA of a free-standing parking garage $26,765,494 $28,369,745 $29,365,000 . . 186 Ocean One Proposed eRA Incentive Package Ocean One proposes to assemble individual properties comprising 6.62 acres ofland located between East Ocean Avenue and the Promenade to the east of Federal Highway ("Ocean One Project Site") and to redevelop the property with a mixed use project containing: 530 residential units 37,4 77 square feet of retail floor area · 143,016 square feet of office floor area · 120 hotel rooms · 1,500 parking spaces A site plan for Ocean One was submitted to the City of Boynton Beach on February 1, 2006 and is attached as Exhibit A. Ocean One will be developed in phases generally in accordance with the Ocean One Phasing Schedule which is attached as Exhibit B. OCEAN ONE PROJECT SITE OWNERSHIP The Ocean One Project Site is currently improved with the Bank of America building and the First Financial Center Office Condominium. Through an affiliated entity, Ocean One owns the Bank of America building and land and has entered into purchase and sale agreements with the owners of thirty one (31) of the office condominium units in the First Financial Center Office Condominium. Ocean One has made bona fide offers to purchase the remaining four (4) office condominium units, however, the owners of those units have been unwilling to accept offers which included a significant premium over market value. A list of the First Financial Center Office Condominium Units which Ocean One does not control is attached as Exhibit C. The Boynton Beach CRA is the owner of the Relax Inn property which is located in the northwest corner of the Ocean One Project Site. The balance of the Project Site is public rights of way for N. E. 6th Court and sidewalks along Federal Highway and East Ocean Avenue. A graphic description of the individual parcels of land which make up the Ocean One Project Site is attached as Exhibit D. PROPOSED eRA INCENTIVES Ocean One believes that its proposed community redevelopment project provides the Boynton Beach CRA with multiple benefits which go far beyond the advantages contemplated in the Boynton Beach CRA's prior Direct Incentives Program. Given the reality of the market place and the public benefits created by Ocean One, Ocean One proposes that the Boynton Beach CRA provide additional financial support above and beyond the amount available under the prior Direct Incentive Program. The elements of Ocean One's proposed incentives program are as follows: Page 1 of6 187 CRA contribution: 1. the Relax Inn Property; 2. any City sidewalk and street rights of way located within the Ocean One Project Site; 2. any First Financial Center Office Condominium units that are acquired by the City through eminent domain; 3. Tax Increment: I. The amount previously available under the prior Direct Incentive Program: forty-five percent (45%) ofthe Tax Increment generated by Ocean One during the first ten (10) years; 11. The balance of the remaining Tax Increment generated by Ocean One: fifty-five percent (55%) during the first 10 years; and 111. One hundred percent (100%) of the Tax Increment generated to the Boynton CRA by Ocean One during years 11 through 30.1 Ocean One's use of incentives: 1. Provide four hundred (400) public parking spaces; and 2. Fund the land assemblage premium required for acquisition of the thirty one (31) units in the First Financial Center Office Condominium. OCEAN ONE PROJECT BENEFITS The proposed Ocean One community redevelopment project offers the Boynton Beach CRA and the City of Boynton Beach unique and significant public benefits and advantages above and beyond a high quality, non-waterfront urban mixed use project which will serve as a catalyst for the long anticipated revitalization of downtown Boynton Beach. Public Parking Integral to the Ocean One proposal is the inclusion of at least four hundred parking spaces which will be available to the general public as public parking. For many years the Boynton Beach CRA, like most other South Florida CRAs, has sought to develop a free-standing public parking garage in the core of its redevelopment area. Like most other CRAs, the Boynton Beach CRA has been unable to Estimated tax increment revenue generated by the Ocean One project are set out in Exhibit E, including assumptions, a calculation of projected revenue and a net present value of the allocation of tax increment revenue proposed by Ocean One. The tax increment calculations were prepared by Marinus Real Estate Company. LLC, the managing agent for Ocean One. Page 2 of6 188 overcome the practical and financial challenges of providing public parking. Such parking is vital to community redevelopment, particularly for existing buildings and businesses which typically have inadequate parking. Very few CRAs have successfully implemented plans for free-standing public parking.2 The Ocean One plan includes a 1,500 car parking garage to be constructed on what is currently the site of the First Financial Center Office Condominium. Ocean One contemplates that the parking spaces which will be available to the public will be located on the lower floors of the gara~e, with secured parking forresidential uses on the upper floors of the garage. Ocean One proposes to provide no less than 400 parking spaces available to the general public on nights and weekends on terms of use established by the Boynton Beach CRA.3 For example, Ocean One proposes that the public parking spaces be subject to a modest parking fee sufficient to cover a pro-rata share of the cost of maintaing and operating the Ocean One parking garage. However, if the Boynton Beach CRA determines that it is in the best interests ofthe community redevelopment area to provide free public parking, then Ocean One will work with the Boynton Beach CRA to implement the CRA' s determination. The public parking spaces would be maintained and operated by Ocean One for the benefit of the Boynton Beach CRA. The Ocean One proposal provides a financially feasible means of achieving the Boynton Beach CRA's downtown parking objective. Indeed, Ocean One believes that its proposal is the only practical opportunity for the provision of public parking in the core of the Boynton Beach community redevelopment area. The reality is that there are limited opportunities for the development of public parking in the core downtown. Assuming that the Ocean One project were not to proceed, the Bank of America building would be re-1eased as is, leaving the site of the to be constructed on what is currently the site of the First Financial Center Office Condominium or an assembly of lands in the two blocks south of East Ocean Avenue and east of Federal Highway.4 Based on the purchase and sales agreements which Ocean One has negotiated with the owners of The Boca Raton CRA actually sold bonds for a parking garage, but could never gain control of an appropriate parcel of land after a land deal with a developer fell through and the bonds had to be ultimately repurchased. The number of parking spaces which are proposed for Ocean One has been determined on the basis of a shared parking formula based on peak periods of use. For example, 90% ofthe parking spaces provided for office use are vacant between the hours of 6:00PM and 8:00AM, a time period where an active downtown would have a peak demand for restaurant and entertainment uses. Similarly, 90% of parking for offices is vacant on weekends, a peak period of demand for restaurant, entertainment and public events. Ocean One has carefully calculated the public parking demands and is providing no less than 400 parking spaces during evening and weekend periods of public parking demand. 4 The two blocks south of East Ocean Avenue is the "SEBOF" assembly area where property owner expectations exceed $5 million per acre. Page 3 of6 189 condominium units in the First Financial Center Office Condominium, the cost ofthe First Financial Center Office Condominium site would be on the order of $ 13 million. Ocean One estimates that hard and soft costs, contingency and financing costs would total $29.7 million for a free-standing parking garage on the First Financial Center Condominium site.5 Exhibit F sets out a simplified pro- forma of the costs if the Boynton Beach CRA were to undertake to develop a free-standing, 400 space public parking garage on the First Financial Office Condominium Site. COMMUNITY DESIGN Ocean One also proposes to transform the sidewalks along Federal Highway and East Ocean Avenue into attractive, pedestrian friendly streets capes at the Developer's cost including the cost ofperpetua1 maintenance and operations. In addition, the north south accessway which separates the retailloffice/hote1 uses from the residential elements will be a significant "public space" and address in the downtown. The plaza proposed in the northwest corner of the Ocean one Project Site will be a significant landmark along the newly developed Promenade. In addition, Ocean One includes a hotel in the project, even though it is clear that a hotel is not financially feasible now or in the near future. Nevertheless, Ocean One understands that there is a desire in the community to have a downtown hotel at some time in the future and Ocean One is prepared to make the hotel site the last phase of the project in order to allow the market for a hotel to mature as a result of other phases of the project and other planned community redevelopment projects. FISCAL BENEFITS Ocean One will substantially strengthen the City and the CRA' s tax base. Ocean One has secured an appraisal from a qualified state appraiser who holds the MAl designation. The appraisal indicates a build out value of Ocean One of $321.2 million. A copy of the appraisal, along with the appraiser's professional qualifications is attached as Exhibit H.6 The appraised value of the Ocean One project would constitute a 6.5% increase in the taxable value of the entire City of Boynton Beach. Or in the context of the Boynton Beach CRA, Ocean One will generate additional taxable The cost of financing assumes that the Boynton Beach CRA will be able to provide some sort of credit enhancement to overcome the uncertainty of future public parking demand. 6 The appraisal in Exhibit H was based on the residential units being sold as condominiums. The highest and best use which was appraised was mixed use without reference to ownership, however, the comparable sales used to arrive at the residential component of the project were condominium sales. Ocean One has asked the appraiser to analyze whether an adjustment in value is indicated as a result of the shift to rental and will provide the Boynton CRA with an amended appraisal if the appraiser indicates that adjustments are appropriate. Page 4 of 6 190 value which is equal to almost 1/3rd of the total increased taxable value which the Boynton CRA expects to be generated in the entire CRA during the next ten years. Ocean One has also commissioned a fiscal impact analysis prepared by Fishkind & Associates which demonstrates that Ocean One is beneficial not just in terms of increased revenues, but is a net fiscal benefit. The fiscal impact statement together with its authors' credentials is attached as Exhibit H. INDIRECT BENEFITS Ocean One will provide an urban lifestyle choice which will bring hundreds of new households to downtown Boynton Beach enhancing the viability of downtown retail and restaurant uses. It is axiomatic that close proximity to economically stable and affluent households is vital to the success of any retail center, particularly in a downtown. CONCLUSION Ocean One believes that the benefits and advantages of the Ocean One project justify whatever share of the tax increment generated by Ocean One is necessary to fund the excess cost of acquisition of the individual condominium units and the four hundred (400) parking spaces which will be accessible and available to the general public. Based on the purchase and sale contracts with thirty one (31) office condo owners and cost estimates prepared by Walker Parking Consultants, Ocean One estimates that one hundred percent (100%) of the tax increment generated by Ocean One for thirty years, will be required to make the Ocean One project economically viable as proposed. 7 7 In preparing its proposal, Ocean One has assumed that the Boynton CRA will limit charges for parking to a pro-rata share of the ongoing maintenance and operations costs. Page 5 of6 191 YEAR VALUES FROM OCEAN 1 ANALYSIS 1 1,728,621 2 1,754,550 3 1,780,869 4 1,807,582 5 1,834,695 6 1,862,216 7 1,890,149 8 1,918,501 9 1,947,279 10 1,976,488 18,500,950 FULL T.I.F ALLOCATION 3,142,947 3,190,091 3,237,944 3,286,513 3,335,809 3,385,847 3,436,635 3,488,184 3,540,507 3,593,615 33,638,091 MISSING 45% FROM OCEAN 1 ANALYSIS 1,414,326.27 1,435,540.91 1,457,074.64 1,478,930.73 1,501,114.09 1,523,631.27 1,546,485.55 1,569,682.64 1,593,228.27 1,617,126.55 15,137,140.91 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 TOTAL T.I.F. OUTLAY 3,647,519 3,702,232 3,757,765 3,814,132 3,871,344 3,929,414 3,988,355 4,048,180 4,108,903 4,170,537 4,233,095 4,296,591 4,361,040 4,426,456 4,492,852 4,560,245 4,628,649 4,698,079 4,768,550 4,840,078 117,982,107 This Chart Produced by CRA 193 Exhibit List Exhibit A ....... Ocean One Site Plan (Submitted to City of Boynton Beach February l, 2006) Exhibit B ............................................. Ocean One" Phasing Schedule Exhibit C ... First Financial Center Office Condo Units That Are Not Controlled by Ocean One Exhibit D ............................................. Ocean One Individual Parcels Exhibit E ......................................... Estimated Tax Increment Revenue Exhibit F ...................... Estimated Cost of a Free-Standing Public Parking Garage Exhibit G .................................... Appraisal and Appraiser's Qualifications Exhibit H .............................. Fiscal Impact Analysis and Author's Credentials Page 6 of6 192 VII. OLD BUSINESS E. OCEAN ONE - TIF AGREEMENT DISCUSSION & DIRECTION Ocean One TIF Financing Proposal 3/2/2006 discount discounted yr payment factor payment NPV 1 55% $ 1,728,621 90.91% $1,571,474 $ 1,571,474 2 55% $ 1,754,550 82.64% $1,450,042 $ 3,021,515 3 55% $ 1,780,869 75.13% $1,337,993 $ 4,359,509 4 55% $ 1,807,582 68.30% $1,234,603 $ 5,594,111 5 55% $ 1,834,695 62.09% $1,139,202 $ 6,733,313 6 55% $ 1,862,216 56.45% $1,051,172 $ 7,784,485 7 55% $ 1,890,149 51.32% $ 969,945 $ 8,754,430 8 55% $ 1,918,501 46.65% $ 894,995 $ 9,649,425 9 55% $ 1,947,279 42.41% $ 825,836 $ 10,475,262 10 55% $ 1,976,488 38.55% $ 762,022 $ 11,237,284 11 100% $ 3,647,519 35.05% $1,278,433 $ 12,515,717 12 100% $ 3,702,232 31.86% $1,179,645 $ 13,695,362 13 100% $ 3,757,765 28.97% $1,088,491 $ 14,783,853 14 100% $ 3,814,132 26.33% $1,004,380 $ 15,788,233 15 100% $ 3,871,344 23.94% $ 926,769 $ 16,715,001 16 100% $ 3,929,414 21.76% $ 855,155 $ 17,570,156 17 100% $ 3,988,355 19.78% $ 789,075 $ 18,359,231 18 100% $ 4,048,180 17.99% $ 728,101 $ 19,087,332 19 100% $ 4,108,903 16.35% $ 671,838 $ 19,759,170 20 100% $ 4,170,537 14.86% $ 619,924 $ 20,379,094 21 100% $ 4,233,095 13.51% $ 572,020 $ 20,951,115 22 100% $ 4,296,591 12.28% $ 527,819 $ 21,478,934 23 100% $ 4,361,040 11.17% $ 487,033 $ 21,965,966 24 100% $ 4,426,456 10.15% $ 449,399 $ 22,415,365 25 100% $ 4,492,852 9.23% $ 414,672 $ 22,830,037 26 100% $ 4,560,245 8.39% $ 382,629 $ 23,212,667 27 100% $ 4,628,649 7.63% $ 353,063 $ 23,565,729 28 100% $ 4,698,079 6.93% $ 325,781 $ 23,891,510 29 100% $ 4,768,550 6.30% $ 300,607 $ 24,192,116 30 100% $ 4,840,078 5.73% $ 277,378 $ 24,469,494 This Chart Produced by Ocean One 3/2/2006 Page 4 presentvalue TIF Estimate 3-1-06 194 't"'- Q) c o c co Q) () o m (f) o 0.. o So..- 0.. 0) Cc.o .- 0 00 CN m '" C~ .- LL..s:: (.) 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Q) OJ ns - .c E Q) rn tn <C o o o o o 't"'- M ffl o o o o o 1.0 ~ N ffl CI) OJ ca '- ca C) OJ C ~ '- ns a. o o o o o I'- I'- N ffl o o o o o o 't"'- ffl Q) ~ en c - >< ns - Q) 0::: o o o o o M 't"'- ffl tn ... ~ o "C - o ::I: - ca .- CJ c ns c .- u.. ... Ul - ns ... o I- o o o O~ o CO ~ o M "*' o o o ~ o o CO ~ CD N "*' - ca ... o I- M 't"'- tn G) U ca c. en C) c: .- tn ":'::-C ~ c: ca G) 0...:.:: ca G) ~ G) ><3: W~ o COtn N"'" I .c: ~C) ('It') .- NZ - C~0(JV r1) S(~W ~ Exhibit A Ocean One Site Plan :)11 'N01.NAOIl :!:NO I p~~ : i'ilU II 'OHI~~IO.u-.oc.IolU.lftM-'loUUIaIU.Lool..-...-.a._~_IC'~1IO(l~U-"I_1ICI~'W'OWCJIUlK4__0J0 u-.........IIoUlDft"...-=-~_~'(>Q'~~..I..l.GAW"MNoI'NOIIooocaI~_ Q ~~5r;h a!UUI ~~;: . ~i.l.iI ~!i:~ Q.~;: IIDhd i ~~ -li~: ~ illi;s !llg :xJ 'NO.uJNIHSYM , ~ . i ~ ~ I ~ , ! '. i ~ varnOl:! 'H::>V3.11 NO.I.NAOIl 3fNO NV3DO V (>00 "$) ],'Nl^> NvDC ~ 'Ii' '\.V ..... ..::.-.- ::iJ;.-;;r l , 1 I<$) 1 I 1 I I I .f, L0?\.' ,~ iW ,,6,',.: 1<$' ,I 1;...8 . V "-<"$ ,I I '.8 I. ( 1 8 Iii I j I ~ I ~ I I I <JD, I I , , 'l I $ <. 'J ~1(0~ 18' , o ~I I <$ - - w mJv/\,'nn08 H:)'V'3f1 ~OlN^08 w. - - -- - UI \ "" ( z -; N I <t:: :t_ 8; ~ - ~ ...J Ul > Ul ...J Z <l: ...J c.. et:. 8 ...J lJ.. ( Exhibit B Ocean One Phasing Schedule (Phasing Schedule Under Development) Exhibit C First Financial Center Office Condominium Units That Are Not Controlled by Ocean One Unit 101, FIRST FINANCIAL PLAZA, according to the Declaration of Condominium thereof, recorded in a.R.B. 3239, Page 714, and all exhibits and amendments thereof, Public Records of Palm Beach County, Florida, together with an undivided interest in any appurtenant common elements, as provided for in said Declaration of Condominium. Unit 102, FIRST FINANCIAL PLAZA, according to the Declaration of Condominium thereof, recorded in a.R.B. 3239, Page 714, and all exhibits and amendments thereof, Public Records of Palm Beach County, Florida, together with an undivided interest in any appurtenant common elements, as provided for in said Declaration of Condominium. Unit 104, FIRST FINANCIAL PLAZA, together with parking spaces 10 and 70, according to the Declaration of Condominium thereof, recorded in a.R.B. 3239, Page 714, and all exhibits and amendments thereof, Public Records of Palm Beach County, Florida, together with an undivided interest in any appurtenant common elements, as provided for in said Declaration of Condominium. Unit 209, FIRST FINANCIAL PLAZA, together with parking spaces 23 and 36, according to the Declaration of Condominium thereof, recorded in a.R.B. 3239, Page 714, and all exhibits and amendments thereof, Public Records of Palm Beach County, Florida, together with an undivided interest in any appurtenant common elements, as provided for in said Declaration of Condominium. Exhibit C Page 1 of 1 3/6/06 Exhibit D Ocean One Individual Parcels Q ~ .a .- .c >C w Exhibit E Estimated Tax Increment Revenue Summary of Contributions and Uses Contributions by Boynton Net Present Value of Proposed TIF $ Relax Inn Site $ 1 st Financial Holdouts $ Total Value of Contributions $ Uses by Ocean One Parking Garage $ First Financial Assemblage $ Other Total Value of Uses $ Difference 24,469,494 1,500,000 1,296,000 27,265,494 25,750,000 3,125,600 28,875,600 $ (I ,610,1 06) Assumptions Property Taxes Current Assessment Bank of America $ 4,559,576 First Financial $ 4,454,435 Relax Inn $ 999,915 Total $ 10,013,926 Future Assessment Cantrell Appraisal $ 278,290,790 Millage Rate 0.0120 Net Present Value Analysis Discount Rate 10.00% Tax Growth Rate 1.50% Parking Garage Land Costs $ 8,250,000 Hard Costs $ 12,500,000 Soft Costs $ 2,500,000 Bond and Finance Costs $ 2,500,000 Total $ 25,750,000 Assemblage Premium Market Value $ 7,874,400 Contract Value $ 11,000,000 Premium $ 3,125,600 Relax Inn Site Assumed Value $ 1,500,000 First Financial Holdouts $ 1,296,000 Exhibit E Page 2 of 4 3/6/06 Exhibit E Tax Increment Calculation Project Value Assessment Discount Current Assesment B of A 1st Financial Relax Inn Total Current Assessment Tax Increment Taxes on Change Page 3 of 4 85% 0.0120 Total 321,202,457 273,022,088 4,559,576 4,454,435 999,915 10,013,926 263,008,162 3,142,948 3/6/06 Exhibit E Present Value Analysis yr payment discount discounted NPV factor payment 1 55% $ 1,728,621 90.91% $1,571,474 $ 1,571,474 2 55% $ 1,754,550 82.64% $1,450,042 $ 3,021,515 3 55% $ 1,780,869 75.13% $1,337,993 $ 4,359,509 4 55% $ 1,807,582 68.30% $1,234,603 $ 5,594,111 5 55% $ 1,834,695 62.09% $1,139,202 $ 6,733,313 6 55% $ 1,862,216 56.45% $1,051,172 $ 7,784,485 7 55% $ 1,890,149 51.32% $ 969,945 $ 8,754,430 8 55% $ 1,918,501 46.65% $ 894,995 $ 9,649,425 9 55% $ 1,947,279 42.41% $ 825,836 $ 10,475,262 10 55% $ 1,976,488 38.55% $ 762,022 $ 11,237,284 11 100% $ 3,647,519 35.05% $1,278,433 $ 12,515,717 12 100% $ 3,702,232 31.86% $1,179,645 $ 13,695,362 13 100% $ 3,757,765 28.97% $1,088,491 $ 14,783,853 14 100% $ 3,814,132 26.33% $1,004,380 $ 15,788,233 15 100% $ 3,871,344 23.94% $ 926,769 $ 16,715,001 16 100% $ 3,929,414 21.76% $ 855,155 $ 17,570,156 17 100% $ 3,988,355 19.78% $ 789,075 $ 18,359,231 18 100% $ 4,048,180 17.99% $ 728,101 $ 19,087,332 19 100% $ 4,108,903 16.35% $ 671,838 $ 19,759,170 20 100% $ 4,170,537 14.86% $ 619,924 $ 20,379,094 21 100% $ 4,233,095 13.51% $ 572,020 $ 20,951,115 22 100% $ 4,296,591 12.28% $ 527,819 $ 21,478,934 23 100% $ 4,361,040 11.17% $ 487,033 $ 21,965,966 24 100% $ 4,426,456 10.15% $ 449,399 $ 22,415,365 25 100% $ 4,492,852 9.23% $ 414,672 $ 22,830,037 26 100% $ 4,560,245 8.39% $ 382,629 $ 23,212,667 27 100% $ 4,628,649 7.63% $ 353,063 $ 23,565,729 28 100% $ 4,698,079 6.93% $ 325,781 $ 23,891,510 29 100% $ 4,768,550 6.30% $ 300,607 $ 24,192,116 30 100% $ 4,840,078 5.73% $ 277,378 $ 24,469,494 Page 4 of 4 3/6/06 Exhibit F Estimated Cost of a Free-Standing Public Parking Garage on the First Financial Office Condominium Property Land Cost Hard Cost Soft Cost Contingency Bond and Financing $12,296,000 $10,000,000 $ 2,000,000 $ 2,400,000 $ 2.669.600 $29,365,600 Exhibit G Appraisal Report A SID1l\-Li\RY REPORT OJ<" A LIMITED SCOPE APPRUSAL Of A Proposed Mixed-Use De\'elopment Ocean One Southeast Comer ofBo)'TIton Beach Blvd & Federal Highway Boynton Beach, Horida 33435 AT THE REQUEST OF: Mr. Todd G. Messenger, as agent for One BOy11ton LLC Siemon & Larsen 433 Plaza Real, Suite 339 Boca Raton Beach, Florida 33432 AS OF August 1, 2008 PREPARED BY: CA1\"'TRELL REAL ESTATE, ll\C. 121 North Hogan Street Jacksonville, Florida 32202 eRE liPPR..AIS.-U NO. 2768 PREPARED ON FebruM)' 16, 200G C^"'T:I ~::-L R:;II L. r;:" ^ rE, r.-:c. TABLE OF CONT.ENTS CERTIFICATE OF APPRAISAL - .... - -..... .................. , . _................ .... ..... ........ _... . _.. . _.1 SUMM/\RY OF SALIENT FACTS AND CONCLUSIONS.......... .... .... .... ......,.................2 PL"RPOSE OF THE APPR.....vS.~................ ..... ....._.... ......... ........ _..... ......................3 DEF.J::l\JITIOK OF VALUE.........._.... .-.. .....,.... ...... ...........,..........,........... ......... ........3 DATE OF 'VAL UE ESTIM.-'\ Tf.. . -.. .. - . ... ... . . . .. .. . . " . . , . .... . . .. . . _.. . _ .. . ... . .... . . .... , ... , .. .. . . .. .._4 SCOPE OF THE APPRAISAL,.... ............ ..........,.....,....., ..._.... _....... ................ ...... ...4 ASSCr..1PTIONS A..;"ID LL'v!1TIN'G CO>JDITIo\rs.. ...........".............. ...__ _ ............. .... ....6 fDEr\TlF1CA TrON OF THE SL1HECT PROPERTy.... . ............., ...' ...,.....,......... .............9 SALES H1STORY OF SUBJECT PROPERTy.....................................,.................. ....10 TAXES ANTI ASSESS:\1E~T AKA-LySIS.... .................,.... ._......__. ___.. __."........,... ....10 BOYNTO;..J BEACH Dr\ T.A,..... .... ...,...., .... ...... ................ ................. ......... _ d.. ... ..,12 SITE DESCRIPTJOK. -- -- . .. ... ... . .. . . ... ... . ... . . . . .. . . .... . . .. __ . . ... . ... .... . .. , , .. , . , ...... _.. ... . ...... ..20 DESCRIPTION OF THE (f\.1PROYEMENTS.....".." .._..,....................,............... ..... ._..27 HIGHEST AND BEST eSE.._. ........ .., ..... .... ..... ,....... .._...._. ...._..... """ ,......, .,....,.. ,...29 SALES COYIPARlSO)J' APPROACH.........,. ..... ....,....."....... __. ___ .__. ..... ......,........ ....34 RESIDEKTLAL Ul\TJTS....,.....,......,......., .......... ..........................., __'. ..__...._..... .... ..34 STREETSIDE RETAIL:' OFFICE SPACE.,.....,..."..... ........................... ................ ....45 OffICE SPl'!.CE ........... -- ---....... __. --.. ___................... .... .......... _.... ...., .....,...,..., .....47 HOTEL. ,....,... ...,.. ..... .....,.... ... .-.. ... ...... ___.. ...... ....,. .... ... ._.. .... .._. ..__.. _._.. .... ..... ..49 G}\.RA.GE PARKING STALLS ................... __ . . __ _ . .. . . , ..... . ... . .. . . .. . , .. . . . .. . . .. . .. .. .. . _ _ . __ __.. 50 SUMMARY OF AGGREGATE RETAIL VALL'E, AS PROPOSED ....... ...... ............. .....51 rvIl\RKETI:;\l' G T II\1E ........ . . . .. . . . . . - -. .. .. - . , , . . . . . . . . . . . . . . . . . . . . . . . _ _ . . _ . . . . _ _ . . _ _ _ . . . _ . . , , . . . .... . . . . , 53 REASONABLE EXPOSL'RE TLvIE. , ......,. . -.. .. - _. _..... .... ,....,.......... ........... .. _'" _. .. _. .. ..53 ADDENDA Qualifications Of Appraiser Site Plan, Building Sketches :c\~Tit:;~L RE'AI. t~<rr...-n,- JNC. I CERTIFICA TE OF APPRAISAL The undersigned do hereby certify thai, except as otherwise noted in this appraisal report: 1. The statements of fact contained in the report are true and correct to the best of our knowledge. 2. The analyses, opinions, and conclusions in the report arc Hmitcd only by the Assumptions and Limiting Conditions set forth, and are our personal. impartial, and unbiased professional analyses, opinions, and conclusions. 3. We have no present or prospective interest in the subject property and no personal interest with respect to the parties invo lved. We have no bias \~...ith respect to the subj ect property or to the parries involved with this assignment 4. Our engagement in this appraisal assigrunent \'ias not contingent upon dcveloping Or reporting predetemlined results. 5. OUT 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 (he client, the amount of the ....alue opinion, the attainment of a stipulated result, or the occurrence of a subseq Llent event directly related to the intended use of this appraisal. 5. Our analyses, opinions, end conclusions were developed and the report has been prepared in conformity/compliance \vith · The requirements of the Code of Professionul Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute~ and, · The UnifolTIl Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board ot'the Appraisal Foundation. 6. We have complied with the competency provision of the l.'nifonn Standards of Profes~ sionaJ Appraisal Practice adopted by the Appraisal Standards Board of rhe AppmisaJ Foundation. 7, The use of this report is subject to the requirements of the Appraisallnstitute regarding review by its duly authorized representatives. 8. As of the date of this report, Ann Eliz:abeth Gilbert, MAl, has completed the req Lliremems under the continuing education program of the Appraisal Institute. 10. We have made a personal inspection of the property that is the subje<:t of this report. ~' ';;:de . ,canl p ofessional assi"Mce 10 tbe signatory of this report. Ann E Z<l b€th Gi I Srat ertified Ge eral Appraiser LicenseNQ. RZ 2533 C ANiRElL RE_~.L EST AlE, ::-Ie. 2 SliVIMARY OF SALIENT FACTS AND CO~CLUSIONS SUBJECT PROPERTY O\VNER OF RECORD Proposed Ocean One Projec1 Numerous owners of components LOCATIO~- Southeast comer of Federal High\vay and Boynton Beach Blvd extension; Northeast comer of Federal Highway and Ocean A venue; and 639 Ocean A VertLle; Boynton Beach, Floridn DATE OF PROSPECTIVE IVIARKET VALUE ESTIMATE August 1,2008 LAND AREA DIPROVEMENTS Existing lmpro).'emallts This property is currently improved with a bank branch, and supporting improvements, including a remote. multiple lane driYe-~lp teHer station; a fOllr-story building housing 35 office condominium units, ranging from 800 square feet to 1,200 square feet. situated in a 4-slory concrete building, with a tOtal salable area of 40.800 square feet. Proposed Improvements The subject property is proposed to be redeveloped with a mixed- use project that will include 530 residential units; 123,099 square feet of leaseable office space; a 120.room hotel; 31,772 squClre feet of streets ide retail/office space; and, 1,729 parking spaee~ 237.425 sf, or about 5.45 acres ZONING CLASSIFICATlOi\ eBD. Central Business District, City of BOy11ton Beach HIGHEST A.'1D BEST USE Demolition of existing improvements, and redevelopment of the site with a mixed use projec~ that will take advantage of the prime central bLL$ineS5 district location. APPRAISAL OBJECTIVE Estimate the Prospective Market Value of the Fee Simple interest of the subject property, at the compleCion of redevelopmenr, depicting the aggregate retail value of the various project components. CONCLUSIO~ OF AGGREGATE RETAIL VALVE S321,202,45i CURRENT ASSESSMENTS. AS IS 10,013.926 I~CREME~TAL INCREASE 11\< TAX..-'\BLE VALUE $311,188,531 SPECIAL CONDITIONS OF APPRAISAL We have nol adjusted the tota! aggregate retail value of the various project components for sllch items as homestead, senior, or widow exemptions that might be applicable for individual properties within tlle project. Nor will the estimate of total value reflect any possible developer discounts offered to buyers as part of the Affordable Access Program. C'A/l.TRGLl R"AL EST.~T". 1:":('. 3 PURPOSE OF THE APPRAISAL The purpose of this appraisal is to estimate the prospective aggregate market value of the project components at completion of the proposed redevelopment of the subject property, as of the effective date of the appraisal; and, a comparison of the aggregate market value with the existing assessment of the property. The value estimates arc based upon the premises set forth and subject to the Assumptions and Limiting Conditions defined herein. It is OUT undersrimding that this report "vill be used by our client, One Boynton, LLC, and/or their designees, to estimate value, which will serve as a basis for submission for the Community Redevelopment Agency's Direct Incentive Program. The use of the report, however, does not inflLtence or impact the analysis and conclusions of the appraisal. DEFIl'\ITION OF MARKET VALVE Market Vahle is defined as follows in. The Diction~rv of Real Estate: Apuraisal, Fourrn Edition, page 177, as published by Ihe Appraisal Institute: "Tbe most probable price wr.ich a property shou1d bring in a compctiti \'C and o?en market under all conditions reClULsite to a fair saTe, ~he buyer amI seller each acting prodently and knowledgeably, and assuming the price is not affected by undue stimulus. Im?lici~ in this defini:ion is ~ht; consummation of a sale. o!s of a specifiEd date and the p2ss~ng of title from seHer to bu)'er L:nder condLtior'!~ whereby: 1) Buyer and scl!er are rypica~ly motivated; 2) Bo~h parties arc welt bformed or wen advised, and each acting in \vhat they c.;onsidcr their own bes. interests; 3) A reasonable time is allo\\'ed for exposure in t~e open market~ 4) Payment is made in terms of cash in ljnjted States dollars or in terms of financial arrangements comparable thereto; and 5) The priee represents the normal consideration for the property sold Ul1umctt:d by special O~ cr~ative financing- or sales concession;; granted by anyone associated with tlle' sa 1e." DF.FI~JTJO)l OF PROSPECTIVE V ALl-E ESTIl\'JATE Prospective value opinion is defined in The Dic!ioiiarv of Real E.~tl!.te Apprai.~al, Founh Edition, page 225, as published by the Appraisal Tns"tiMe as: "A forecast of the value expected at a specified future date." PROPERTY RIGHTS APPRAISED The property rights appraised herein are those or a Fee Simple Interest in the subject property. Fee Simple Estate is defined by The Appraisal of Real Estate, twelfth edition, page 68 us: ''Absolute ()wnership u.m:ncl~mbr:red by any olher inlerf?Sl or estate, subject only to the limitations imposed by the govern11lenutl powers oj taxation, eminem domain, police pOwer, and escheat. " CANTRELL R.EAl ESr '" 71:, ]'{c. 1 i 4 DATE- OF V.-'\.LUE ESTIMATE The effective date of this value estimate is August 1,2008, or about 30 months hence. SCOPE OF THE APPRAISAL The Scope of the Appraisal is the extent of the proeess ofcolJecting, confinning, and reporting data in the appraisal of the subject property. The scope of the work performed in this appraisal assigruucnt includes: o Analysis of the appraisal problem~ o Tnspection of the property being appraised; o Analysis of the plans and specifications made available as of February 14: 2006; o Inspection and analysis of1he market area in which the subject is located; o Ident[fication of the highest and best use of the land; o Collection, verification and analysis of data which wOlLld lend to completion of the applicable approaches to value as of the cffective date oftlle appraisal; o Reconci [iatlon of the value indicators from these approaches; o Arriving at a unal conclusion as to the value ofthe property; and c Preparation of a report that will present the significant data gathered in the investigation for this assignment, plus the analytical and conclusion procedures followed. The subject property is located within the centra! business district ofthe city of BO)11ton Beach, \vithin the originill community redevelopment area. The immediate area is in rapid transition at this time. Identification of the highest and best use of the subject included an analysis of the historical land uses in the immediate area, and the proposed redevelopment of those site..c:; with more intense developments. Details regarding the proposed redevelopment of the subject property were limited.. We were provided with schematics depicting building elevations for the project; and~ representati....e floor plans for the bllildings. \Ve VI,'ere also provided with a matrix of unit types, and their relative floor position. We were not provided with unit layouts, more details regarding finish items, or bUl1ding construction features. \Ve l>.2VC therefore found it necessary to assume that the general building conslruction features \viH be similar to the approved mixed-use projects located north and east of the subject, specifically The Promenade and Marina Village. FurtnemlOre, we have made no investigation into the relative or projected costs of construction, and \vhether the specific redevelopment projec~> as proposed, is financiaLly feasible. Our scope of work has been narrO\vly defined m the request of Our chent to estimate the prospective retail values of the various building components at completion of construction. \Ve understand that the use of the appraisal is to provide our diem with the aggregate retail values of 1he project components for planning in connectjon wirh Tax Increnlent Financing, as part of the Boynton Beach Community Redevelopment Agency Direct Incentive Program. CAI-.,RElL RLAL E:rr..nE.I~C, :: 5 Because of the limited scope of work, any other use of this report could be misleading. Based upon the quantity and quality of available Televant data, and the limited scope of the assignment, the Sales Comparison Approach was the only approach found to be appropriate for this appraisal problem. The Sales Comparison Approach is the process in which a market value estimate is derived by analyzing the market for similar properties, which h.ave sold, and comparing these properties to the Subject. The comparative analysis focuses on prices paid, and similarities and differences among properties and transactions that affect value. The elements of comparison are then tested agalTIsl market evidence to estimate which clements arc sensitive to change and how they affect value. The unit indicators appropriate for the subject components are as follows: Residential L"nits Price per squaTe foot RetaWOffice Space Price per square foot Hotel Price per room c."!'ITR:.lL REA~ ssr.... TE.. L'IC. 6 ASSm1PTIO~S AI\-n LIMITIl\'G COlXDITIO~S This appraisal report has b~en made ~..ith the following Assumptions and Limlting Conditions: I. This is a Summary Appraisal Report, which is intended to comply reporting requirements set forth under Standards Rule 2-2 (b) ofthc Uniform Standards of Professional Appraisal Practice for a Summmy Appraisal Report. As such, it might not include full discussions of the data, rt:asoning, and analyses that were used in the appraisal process to dl::....clop the appraiser's opinion of value. Supporting documentation concerning rhe data, reasoning, and analyses is retafned in the appraiser's file. The information containcd in this report is specific to the needs of the client and for th~ inl~ndcd use stated in this repon. The appraiser is not responsible for unauthorized use ofthis report. 2. No responsibility is ass limed far the legal description or t'Or matters including legal or tltle consldcrmions. Title to the properry is assumed good and marketable unl.::ss othenvise staled 3. The property is appraised ffee and clear of any or allliem or encumbrances unle:;s o(hem-ise stated. 4. Responsible ownership and compewnl property management are assumed. 5. Tht: infomlarion furnished by others is b~lieved to be l'eliabte. Ho\vever, no v,,'arrant)' is given for its accuracy. 6. AI! engineering is assumed correct. The plot plans and illustrative material in tllis report arc included only to as;5ist rhe r~<lder in visualizing the property and may not be relied upon tor any other purpose. 7, II is assumed that there are no hidden or unapparem conditions of lhe property, ~ub~Qil, or i,tmchlres that render it more or less valuable. :--Jo responsibility is ass limed for such conditions or for nrranging for tmgineering :>rlldies that may be required to discover them. 8. It is l"!ssumed that there is full compliance with all applicable federal, state and locat environmental regulation., and la\^.'s, l111Ie~., noncompliance is state;:d, ddined and considered in the appraisal report. 9. I, is assumed that all applicable zoning und use regulations and restriction., have been complied with, unless llonconfonnily has been ~tated., defined, and considered in the appraisal report. to. 1t is assumed that all required licenses, certjficat~s of occupancy, consents Or other legislative or administrative authority from any local, Slale Or national govcrnment Or private entity Or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based. 11. It is assumed that the use of the land and improvements lies within the boundaries or property lines of the property described and thar there is no encroachment or trespas:> unle:>s orhef\vise nored in rhe report. 12. The distribution, if any, of the eotal value berneen land and impruvem.::nts applies only to the use stated in this report. The separate allocations for land and improvemenl:> mllst not be used in conjunction with any other use or appraisal and arc invalid ifso used. r.-A:-(f[(;':LL R.r,,\ I. I;~T..\TI'~ l~'C. II 7 13. Pmses.,ion of this report, or a copy thereof, does not carry Vltlth it the right of publication. II may not be used for any purpose by allY per.,on other than the party to whom it is addressed without the written consent of the appmiser and, in that event, only with properly written qualifications and only in its entirety. 14. The appraiser herein. by reason of this appraisal, is not required to give further consultation, testimony, or be in attendance in court with reference to the property jn question, unless arrangements have been previously made. 15. \:either all, nor any pan of the cuntents of this report (especially any (:onclusions as to vahle, the identity of the appraiser or the firm '"-'ith which the apprni!;er is connecEed) shall b~ disseminated to the public through advertising, public relations, news. sales or another media without the prior written con.,ent and appro.....;)1 of the appraiser. 16. Survey exception: Any stalement of facts an accurate survey might sho\,,'. 17. Unless otherv.:ise stated fn this repOlt, the exi~tence of hazardous stlbstances, including without limitation, asbesto-,", polychlorinated biphenyls, petroleum leakage or agrictJlturaI chemicals, v.hich mayor may nut be present On the property, other environmental conditions, was not called to the attention of nOr did the appraiser be-come aware of such during the appraiser's inspection. The appraiser has no knowledge of the existence of such ma~eria!s on or in the property unless otherwise stated, The appraiser, ho\vever, is not qualified to te.,t such substances or conditions. If the presence of such substances, such <'.IS asbestos. me<l formaldehyde, foam insulMion, or other hazardous sllbstances or environmental conditions, may affect the value of the property, the value estimated is predicated on the assumption that there area not such conditions 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, Clr for a~y expertise or engineering kno\vledgc required {Q discover them. 18. ;\n)' value estimates provided in the repoti apply to the entire propeny, and any proration or division of the total into fract~onal interests will invalidate toe value estimate, unless such proration or division ofinrerest has been set forth in the report. 19. The appraiser assumes that the reader or user of this report has been provided with copies of available building plans and all leases and amendments, ifany, encumbering the property. 20. The foreca!;ts, projections, or operating estimates contained l1erein are based upon CUM'ent market conditions and anticipated shorf-term supply and demand factors and are, therefore, sul>ject to changes in future conditions. 2'. The Value estimate applies only to the date specified in the repolt. Value is affected by related and unrelated economic conditions, both local and national. Unforeseen precipitous changes in economic condition~ can impact the fi.Lture value of Subject Property. 22. The appraiser is not qualified to identify arcns that may be legally defined as jmisdic(ional wetlands. The appraiser assumes no liability for identification of any possible jurisdictional wctland areas On the site. Thl:l appraiser assumes tnat the site is 100% usable. 23. The presence of termites or the infestation of any other types of insect \Vas not noticed or called to the attention of the appraiser, Th~ appraiser, however, is not qualified to test for such infestations, and the value estimated within this repOlt is predicated on the assumption that CAvm::L.:. XI'.~L lH..\,~, po/c. . 8 there are no such infestations and there are no hidden damages due to such infestation. Ko respon~ibility is assumed for any such condition, TIOr for the expertise or knowledge Tequired to discover them. 24. The Americans with Disabilities Act ("ADA") became effective January 25, 1991. We have not made a spedfic compliance survey and analysis of this propeny to determine whetber it is in conformity \vith rhe various derailed requirements of the ADA. It is possible that a compliance survey of the property, together ~'ith a detailed analysis of the reqllirements of the ADA, could reveal that the property is not in compliance with one or morc ofthe requirements of the Act. If so, this faCt could nave a negative effect upon the value ofthc property. Since we have no direct evidence Telating to this issue, we did not consider possible non-compJiancc \vich the requirements of ADA in estimating the value oflhe property. 25. A soil engineering report \vas not availabl~ 10 (he appraisers. No respon.~ibility is assumed for hidden or unapparent conditione; that would make the property more or less valuable, SPECIAL ASSUMPTIO~S A1\1) LI"rrll~G CO:\'DrTJOl\'S 26. We. have not adjusted the total aggregate remil vaiue of the various project components for such items as homestead, senior, or wido\v exemptions that might be applicable [or individual properties within tbe project. t\or will rhe estimate of total value reflect any possible de" eloper discounts offered to buyers as part of the Affordable Access Program. 27. \Ve have been provided \vith very limited infol1THitioll on the subje<:t redevelopmcntprojecl. We have made some assumptions regarding construcrion fcatmes and finish items. These assumptions arc included throughout the descriptive sections of this report, and art generally based on features of likc~kind propenics in the immediate and regional area. These assumptions are the basis far many of rhe appraisal conclusions contained herein. Should actual redevelopment plans \'ary signi fic2.ntly from the assllmptions included herein, we reserve the right to amend our estimates and conclusions. CA. Vf I(EL~. Rt:....l. esT......'E. I;\C 9 IDENTIFICA TION OF THE SI,i'BJECT PROPERTY The subject property is located on the north side of Ocean. Avenue, the east and west sides of NE ~ Court~ and, the south side of Boynton Beach Blvd extension, also known as NE 2ml Avenue; the site has frontage along the east side of Federal Highway. also known as US 1. The subject is a non-contiguous site, separated by NE 6ch Court, with a total area of 237,425 square feet, or about 5.45 acres. The subject property is divided for descriptive purposes into three component tracts: 1) The eastern portion; 2) The northern part of the westerly portion; and, 3) The southern part of the westerly portion. The total site has been improved with a four-story office condominium complex and supporting site improvements including surfilce parking; and a 1974-built ban branch with 6,161 square feet, per assessor records. The site is zoned CBD, by the City of Boynton Beach, which allows intense mixed llse development. CA. 'lmEL!.. RE!\!.. ESTATE, no;c. 10 LEGAL DESCRIPTIONS Tracl j: A complete legal description, according to the Declaration of Condominimn of First Financial Plaza, a Commercial Condominium, recorded Fcbmary 27, 1980. in OR Book 3239, pp 714- 735, legatly describe the subject site as follows; The West one-half of Lots 39 and 42, Dewey's Subdivision, according to the Plat thereof on file in the office of the Clerk of the Circuit Court in and for Palm Beach County, Florida, as recorded in PLat Book 1, Page 37. LESS road rights-of-way and subject to easements of record. Also kno\v11 as APN 08-43.45-27-50-000-1010 !hro~Lgh 08-43-45-27-50-000-4090 Trac12: Funk Bros Addition, Lots t and 2, LESS road rights-or-way and subject to easements of record. Also known a~ APN 08-43-45-27.02-000-0010 Tract 3__ Dewey's Subdivision, Lot 41, less East 25 feet for SE 61h. and South 45 feet for SR 8041ight.of. \val's; and also Funk Bros Addition, PB 2 P 13, Lots 3 through 6, less \Vest 50 feet for right-of- \vay. Also known as APN 08-43-45-27-01-000-0410 SALES HISTORY OF THE SUBJECT PROPERTY A title abstract has not been provided to the appraisers and a title search is noi vvithin the scope of this assignment. However, our research revealed that there have been several sales of indivtdual units in the condominium complex on Tract 1 .within the past five years. Tract 2 was purchased by tlle Boynton Beach Commnnity Redevelopment Agency in October 2002 for $900,000. Regarding Tract 3, public records indicate that there ,vas a February 2005 purchase for $9,000,000. REAL ESTATE TAXES AND ASSESSME)(T DATA The subject's ad Valorem ta.xes are e~tabljshed by Palm Beach County, and according to Florida law, property must be appraised at 100% of its market value as of January 1 of each year. Taxes which are for the calendar year, January 1 through December 31, come due March f of the following year, and are delinquent after April 1. A 4% discount is offered for earlier payment in 1\ovember. Subsequent discounts of 3%, 2%, and t % are allowed for payments in December, Janual)', and February. The delinquent fec for payment after April I is 3% of1hc gross amount of taxes due. The subject property is identified by the Palm Beach County Property Appraiser's Office under the real estate parcel numbers 08-43-45-2i-50-000-1010 through 08-43-45-27-50-000-4090, as Tract 1; 08-43-45-27-02-000-0010 as Tract 2; and, 08~4345-27-01-000-041O as Tract 3. CANTRELL RU\t I'sT....n:, [:\:C. 11 The 2005 real estate assessment and tax data for the subject property are as follows: Subject Pnlper~' Ass~SSrtl"nl~ ~~ Taxes Tnct I: First Fin3Dcial PllIla i)8.~_\.4;;.l~-~~aa-lo m cl:ro~~11 D~J-1S-11-50-aOD-4090 2005 ..u!:4!,.~m~DU Ownlfl AI'.\{ Unit Si:c.c Lo,c1l hn!', TQtll.1 ,\ V M\:Gocy .1010 JOl 1,.200 SO S 139.20 I $139,201 Maio -l020 102 [,200 SO S l39.201 S1."J9.20l Struck -1030 103 1,200 SO $09,201 $1.39,20 f A~chackj -1l)4.{) 104- 1,200 SO S I.W .201 S13g,201 \1Qore -lOGO lOG 1,200 SO $1.39,201 5139,101 Moore -1070 107 1,200 SO 5139,201 5J 39,201 ChaJr.be~ of COffim -1080 108 1,200 SO S1J9,20l S139,201 Chamber ofComm -1090 109 1,200 SiJ 5139.101 S D9,201 Moori:' -2010 201 (,200 $(} S&3,52I $83,52 J Moorc - 2020 202 1,200 $0 S83,521 Sg3,5'21 Moore -2030 ZOJ 1,200 SO 583,521 $83,52 ] Stan:q -204-0 20.; 1,200 SO SiD9,201 5139,20 I S:3.l1ter -2050 205 SOO SO 592,801 $92,80: Alis.e -2060 206 1,200 SO S139,201 SI39201 Woolley -2{)7i) ~O7 1.200 Sl) S[39,20] S139,201 Kelly -2080 20S 1,20() S() S139,20l S 139,201 Ik.l~'ermaJ) .2090 209 l, ZUO SO Sl39,20} $]39,201 Milk~ -30JO 301 1,200 $0 .s 139,2(); $ ] 3C),2i)j Pine Tree Prop -JG10 302 1.200 $0 S139,2fn $:39,20l Pine Trec Prop -3030 303 1,200 SO S l39,201 $139,20J I I Moor!) -:;0';0 :104 1.200 SO 583,521 $83,52 ! Todr -.3050 :;05 ~OO SO $92,80 I S92,30: Russell -3060 306 1.200 SO S l39,20 J $139,201 yfanikas -.3070 307 1.200 SO SI39,20] 5139,2.01 ..\ merical\ P iocleer -3030 .308 1.200 SO $139)0 J Sm,201 rVfomil',g Star Hnar. .3090 309 J,200 SD 5139,20] Sl39,201 Moort' -4010 4Gl !,200 $0 S83,521 583,521 B~n Spll~:,e~ -4020 402: 1.200 SO S l39,201 :;; :.39,201 ! Gri ff:n Tn;~l -4030 403 [,200 $0 S:39,'201 $[39,20] . t Moorc -4040 404 1,200 SO S 139,2G 1 51.39,20] W asse I'm:m -4050 405 800 SO $92,80 J S928(Jl :vr o ore -4060 406 1,200 So S139,201 $139).0 [ .\10Ul-c -4070 407 1,200 SO SI~9,201 S139,20 I \Voo:lcy -?O&O .:08 1,200 SD S 13~.20 1 SU9,20l Moore -4f>90 .!.O9 l.200 SO 5139.20! $139.201 .;1>,800 SO S';454,435 S4'<;54,4-.3S Tract 2: Vacant Site Own~r AP~ L;rm! In..... Tol~l AV eRA 0&.43-45-27-000.0010 S99Y,915 0 SYY9.915 Tra~t 3: Bank Branch O'l'ntr APN LInd Imr~ TO[:L[AV Onv Boynton LLC 08-43-45-27-0,-000-0410 S4,429,7~ S 129,836 $4,559,576 Total, Currt!nt 20aS AS$CSSmenb $5,429,655 S4,5S4,271 $1 D,(J! J.926 C'^~TRr,ll R.::!\l, ~sr."";~. l:-':C. 12 BOYKTON BEACH & NEIGHBORHOOD DATA OVERVIE"-' A market area is defined as a group of complimentary land uses. A market area analysis is performed to determine ho\',: the operation of social. economic, government, and environmental forces influence property values in a specific area in which the subject is located. Transportation roLLtes and development throLlghout the neighborhood serve as an analyc\cal basis when determining how to what extent these forces influence property values. The s1.Lbject market area is located in east Palm Beach County along the west side of the Intracoastal \\ratervr'ay. It is located within the City of Boynton Beach and can generally be defined as the areas bound 011 the north by J\"E 13 Avenue, east by the Intracoastal \Vaterway, west by the FEe railroad right-of-way, and on the south by Woolbright Road. This immediate neighborhood can be defined as the central business district of Boynton Beach. The larger general market area encompasses numerous property types and uses~ including commercial, freestanding TelajJ~ office buildings, retail strip centers, marina, restaurants, and slngle-t:'lmily uses, The immcdi~tc neighborhood can be defined as IQv,,'-denslty mixed.-use commercial office and retail uses, some \vith waler orientation. The Citv of Bovllton Beach BO)-TIton Beach is a 16.1 square mile city loca1ed \vithin Palm Beach County. The average median househofd income is 528,824. The most ClLrrenl demographic information of the City of Boynton Beach, as provided by the Boynton Beach Chamber of Commerce, states the total population of Boynton Beach, as of 2000, was 60,389 people. The median age was estimated be 41.8 years of age. Boynton Beach is a city founded on traditional business and an established high-tech industry seCWf with a history of solid grov..:th. Located in the heart of South Florida, Boynton Beach offers a prosperous marketplace of over 6.5 million people \vithin a 100.mile radius of the city and easy access to rich rnarkets in the Latin AIllencan and Caribbean regions. A skjlled labor force, modem infrastnlclure, and a commitment to economic development contribute !o business and industrial growth. \Vorkfuce As the third largest city in Palm Beach County, which has a total labor force of over 520,000 \vith a solid mix of professional, technical and manufacturing qualifications. Boynton Beach has experienced dynamic growth and prosperity in three leading business sectors, such as Aerospace and Engineering, Communications and Compurers, and Business and Financial Services. Companies relocating to Boynton Beach have access to advanced technology r<;:sources, capital availability, communications, suppllers~ and strategic a1l1ances. Advanced lechnology manufacturers and developers have benefited from an experienced Jabor pool and a mature high technology llldustry located in the Boynton Beaeh to Boca Raton corridor. For close to hl/O decades, this area has been a leading research and production center for soflwar~~ CAI\"TlGll. REAL EST.""TE. ::>lC 13 telecommunications, and computer hardware. As home to industry Jeading advanced technology comp~nies like Motorola, the city has a long-term history of providing modem services and infrastructure for industry. Education Public schools in the Greater Boynton Beach area are part of the Palm Beach County School District. Students in Boymon Beach are served by 11 public elementary schools (grades K-5), 5 middle schools (grades 6-8) and h....o public high schools (grades 9-12). In addition, the Royal Palm School meers the special needs of disabled persons from pre-kindergarten through the age of21. Sever-dl institutions of higher learning, including Florida Atlantic University, LYlll1 'C'niversity, ~orthwood University, Palm Beach Atlantic College and Palm Beach Communiry College, are located near the Boynton Beach area: and offer a wide range of academic and career-training programs. Health Care Boynton Beach is a commnnity that provides every type of health care service for people of all ages, especially the elderly. A variery of assisted.care living facilities and nursing homes tend to the needs of Boynton 's older residents, offering a complete range of residcntial, rehabilitation and health care options. In and around the BOynton Beach Community there are three state-of- the-art health care facilities, and one that is more particularly located \vithin Boyn1on Beach. Bethesda, located on Seacrest Boulevard in west Boynton Beach has served the community for more (han 40 years. Bethesda is a community-owned, not-far-profit hospiral. Tt serves iis community 'with centers of that include the Comprehensive Cancer Care Center, Maternity Center, Rehabilitation, \l/omen's Health Center, a Stroke Center and 24-hour Emergency Servi ces. Tourism Due to the beaches, golf courses and other recreational facilities, Boynton Beach attracts a growing number of seasonal and year-round visitors, making toarism a vilal contributor to the regional economy. Business travel is noted to be doing \vcll also, due to the expansion of Quantum Corporate Park and other developments. EmpJo)'ment Trends Boynton's labor market is statistically part of the West Palm Beach-Boca Rata;} Metropolitan Statistical Area (MSA). Palm Beach County's laboT force currently exceeds 520,000. One indicator of Palm Beach County.,s economic health is the strong increase in employment that 1hc awa has maintained. According to the Florida Department of Labor Palm Beach County added 19,200 non- agricul1uraljobs from March 1999 to March 2000, an increase of4%. Palm Beach County has experienced r~pid economic grO\\-1h for the last two decades, a trend likely to continue into the next century. Contributing to the success of the area are factors including: a strong corporate culture; enviable quality of life; favorable taxes; an educational C...~l'~l,. xL\.L ES"fAT8, [Xc. 14 system committed to excellence; state-of-the-art transportation facilities a.nd a skilled and dedicated workforce. Leadinfl: industrial Sectors MedicallPharrnaceutical/1iealth Care; Aerospace & Engineering; Business j Financial j Headquarters Services; Agribusiness~ Communications/lnfonnation; Technology; Tourism ;' Recreation/ Entertainment . Largest Employers iEmployees i . . Produ~tlS~~i~{'~ i 16.800IEdlJcation . ! ------ r:::----.-. - --- -r; , Palm Beach County Govemment ;9,000 ,County Government; _______n_______..____:___._. .....__. _n.____.. ...... _...... _..._ .___ .... .. 0 _... ____.__________---..J ;Pratt & \Vhitney 5,100 !Jet EngInes J : C~i~~l b-i~' p;i~~ B ~;~h.H~~ith~~;;S>:~te;-~~.-i~~ ~-~4-,-OOO 000__ -- -rH'~~ ith"C~;~" - ------. ! .----.-~-.--._..-..-... ....,.. ..... .' .;. --.. .,. .. .-...-..,., . 'e', ';'" .-.-.... "Of'.' .... ,...____..u_______.__. !~~~~~.~~~~al Heall~ ~yste~s.,. ~.~.~:. _ ...__...... _ .____.'~~~~~___...... J!:fe~]t~..~_~r~._________ Motorola., Inc_3,200 iElectronic Pagers i 'Fi~ Sun In~~' . . -.. _.._m... _____u_w_____________..._ m--2~500- ---. ...1Agri~~it~~~... ________m_j Fiorid;up~~~~.~~ &-iigl1;-'-- .n___ ._n__ou__.._ --- ... .... .-i.2~i(io..-- ----rEi~~!ri~Utj iily-" "'-. .__. .------.. .---nl-----.---r,------.-n- ---... Boca Raton Community Hospital ;2,000 ;Hcalth Care . B~~-~-R-;t~~~"R~;~rt.& Ci~'b.--m---n.-.--.-------. - .m-:I:850------nHot~1------..- -. - . i ... -........ ...... ... ........- ..._n........... .. _ .... . ___ _______.... _ .__....:___.__u_____.. __00__...1 '_B.~~he_s~~.~f_~_r:n?~~~_F_T~_sp_iy~l....___ .n..__ ___. .1,600 iH.~~}:_~. ~~c ! ...................-- 1._ ..__~~~~~s._!:~~~.~~~_~mp'lo)'ers':: School Board of P .B.C. TRANSPORTATION Access to the subject neighborhood is good WId is provided b.v: Ground Inlerstale 95 ~ a six~lanc. limited access interstate; whrch connects southeast Florida to Jacksonville, Savannah, and other cities along the Atlantic Seaboard. Within tne Subject Neighborhood, there arc three exits from Interstal€ 95 at Woolbright Road. BOynton Beach Boulevard, and Gateway Boulevard. Florida's Tu.rnpike - a limited-access toll highway that generally parallels and serves as an alternate to Interstate 95 within southeast Florida. Serves to connect the subject neighborhood to Dade & Palm Beach Counties, as well as other points \\ilthin the state. such as Orlando_ limited on and off-ramps are located at major intersections and all inteTState exchanges to the north and sOllth_ Bo}'nlolI Beach Boulevard - slx-Ianc divided roadway that is a major east~west thoroughfare providing access onto Interstate 95. This road\vay with curbs, sidewalks, and streetlights, and begins al US Hjghway 441 to the west and terminates at US Highway I to thc east. C.;I\":'RELL REAL ~:'T.'" TE. 1f'.:C. 15 Gateway Boulevard - This is a lonr-lane roadway that provides access to Quantum Corporate Park, immediately \\iest of Interstate 95. This rQad has curbs, sidewalks, and streetlights. Tt is an cast-west thoroughfare that provides access onto lnterstate 95 and begins a US Higlnvay I to the east and terminates west juS! before Florida's Turnpike. Congress A\.'enui!! - north-south six-lane roadway that tom\s the most wcstem boundary of the Subject Neighborhood. This roadway runs parallel to Interstate 95 and provides good north- south access to the Subj ect Neighborhood. In addition to the streets listed above, several roads provide direct access to the subj ect site: · East Ocean Avenue is an east-west, four-lane intra-i;:ommunity road that provides access O\.'cr thc Intracoastal Waterway to the beach corrummitics of Ocean Ridge, Briny Breezes, and points beyond. · NE 6[h Comt is a minimaJly improved north-south road in the immediate vicinity of the subject. Air Approximately 8-milcs (15 minutes) north of the Subject Neighborhood is thc Palm Beach lntemational Airp01t and only I Y2 mile north of the Subject )l"eighborhood is the Palm Beach County Park Airporl, which is located on (he north side of Lan~ana Road. Palm Beach County Airport at Lantana is a general aviation airport op~n to noncommercial, non-jet aircraft, charter Service, remals, flying school, repair facililies, & fueling for small engine aircraft. Boca Raton Airport is approximately II-miles (15 minutes) south of the Subject Neighborhood. Fort Lauderdale International Airport is approximately 35 miles (40-minules) south of the Subject Neighborhood, while lvliami international Airport, with its 147 international carriers, is only 25 miles (70-minutes) south ofthe Subject Keighborhood. Sea International seaborne shipments arc efficiently handled through the nearby Port of Palm Beach and Fon Lauderdale, which features fully containerized facilities. Port of Palm Beach is approximately 20 miles north/northeast of the Subject Neighborhood. Port Everglades Sea Port is approximately 35 miles south/southeast of the Subject ~ejghborhood. Port Everglades is considered the faslest growing cargo port in the nation, the second busiest cruise port in the world and the deepest harbor south of Norfolk, Virginia. The economies of shipping by' sea 10 destinations in the U.S., Canada, Latin America, and Europe are vasI. Tn addition, Port Everglades has the lowest cargo loss value of any pon on the east coast. Rail Florida is ser..'ed by 12 freight railroads. Primary sen"ice to Boynton Beach 1S provided by FEe and CSX, the largest rail freight calTiers in the state, witb connections throughout North America. The Amtrak passcngcr system operates over CSX tracks with daily intercity passenger services. Tri~County Commuter Rail, which shares the CSX Rail Line, links \\.'est Palm Beach through Yliami (71 miles). The Tn-rail Commuter system is a modem, high-speed C....r-.1'REL.L Jt~:AL E~V.r2. II\.C. 16 alternative to traffic congestion, linking South Florida's major transportation hubs. A Tri-Rail station is located in Boynton Beach at Gateway Boule.....ard. The Tri-County Commuter Rail Authority (Tri-Rail) is responsible for the operation of commuter fail service along the 71.7-mile South Florida Rail Corridor. The rail corridor extends northw'ard from the Miami Airport Station in Miami-Dade County through Broward County to the northern terminus at the Mangonia Park Station in Palm Beach County. 1.i'41)USTRIAL/OFFICE DEVELOPMENT Some of the TndllstriaI/Office parks within the area include QuanEulTI Corporate Park and High Ridge Park of Commerce. These Industrial/OfficI: parks have a significant influence on the Industrial/Office land within the Subject ~cighborhood due to the decreasing supply of IndustriaL/Office zoned laud and high demand for South Florida locations. The Palm Beach Industria! Market Vie\v - FiTSt Quarter 2005, published by CB Richard Ellis. states that, "The Palm Beach County industrial market continues to exhibit strong fundamental characteristics and investor interest Llmiled conslruction, strong leasing activity, positive absorption, a 3.5% vacanc.)', and a....erage asking rates increasing 5.3% from the year prior to the current ratc of $6.42 psf NNN. ideally posit[on the market for sustainable long term grO\vth." "The volume of investment activity is expected to increase in 2005 <IS interest rates continue to raise but remain at favor<Ible levels. Hesitant OWners \vLH begin to consider selling as they witness rising jnterest rntes. They will also continue to underwrite assets aggressively to take advantage of the favorable debt that currently exists:' Quantum Corporate Park The Boynton Beach Chamb~r of Commerce has claimed the Boynton Beach area's fastesl- gTowing commercia! center to be QU<Intu\TI Park. The 550-acre park, fiTSr opened J 5 years ago, has seen a renewed hurst of activity in ttXent years with the opening of the Interstate 95 interchange at Gate\vay Boulevard. Long-time users like Curt loa (engineering), SafetY Kleen, Motorola, which began operations in 19SJ and employs 3,200 on an 87-acre camplfs, and Publix. which has a 500,OOO-square-foot warehouse center, have been joined by a flood of newcomers. About 100 acres have been sold recently to v<Inous developers or users, including high-tech companies like Cooper Electronics, and Stanton p"Iagnctics, industrial users like GaTe Industries (insulation products) and Oriana Granite (graniie and tile products), and office facilities like Seott Disher, CP A- J.P. Morgan and Trammell Crow aTe developing another 48 aCres for bulk-distributiol1 "varehouse space. One 140,OOO-square-foot faciliq: has been completed and a second is under constmction. Premier Realty is also building bulk;-dlstrihutlon warehouse space. The biggest new project at Quantum Park is Beml11da Place, a 62-acre mixed-use project being developed by Quantwn Realty with Olin Compan.i~s of California. Bermuda Place includes 500 residential units (ro\vn homes and aparrments) 200,000 sqllare feet of retail space, 76,000 CA....i:l..E:.L R:::,A,L EST....E.INC. 17 square feet of restaurants, and 90,000 square feet of office space. When completed, residents will be ab!e to live, \"'ark, shop and be entertained right in Bennuda Place. RESIDENTIAL AND COl\1;\1JERCIAL DEVELOPMENT Historically, the commercial developments of Boynton Beach have been located along Woolbright Road., Bo)'TIton Beach Boulevard, and Congress AVenLle, while residenlial developments arc located just to the north and south of these roadways along collector streets. These residential neighborhoods consist of moderately priced single-family residential homes. which were constntcred in the late 19505 .and latc 1970s. Commercial developments located along the arterial road\vay'S consists fast food and sit down restaurants, banks, car repair, freestanding and strip-retail, hotels, mini-warehouse centers, movie theatre, and more. The life-cycle stage of the sLtbjecl pTOperty's immediate neighborhood a of the date of appraisal is considered in revitalization, def1ned by the Appraisal institute as a period of rcnc\val, redevelopment, rnodemi:!alion, and increasing demand. The revitalization efforts are the result of citizens and community leaders. The Boynton Beach Commtmi1y Redevelopment Agency (eRA) wa..<; established in J 982, to serve to eliminate slum and bl!ghted conditions, promote crime reduction, and provide for affordable housing within the Ciry'" community redevelopment area through the encouragement of diverse redevelopment activities, stimulation of economic growth, creation of a destination CQre, and enhancement of the visual appearance of the commut\Lty. In thc late 1990s, rhe Visions 20/20 Redevelopmelll Master Pian \Vas adopted. The eRA \vas converted fi.om an agency to an independent 7-member board to onrsce thc implementation of the Visions Plans. The boundaries of the redevelopment al'~R were greatly expanded~ and now include a Large geographic area, encompassing 1,650 acres. It includes the entire area of the city east of the FEe Raitroad to the Intracoastal Watenvay from the city limits north to SOLlth, as well as the area bOLLnded by the FEe RailTo<ld on the east, Industrial Avenue on the west, the C~16 canal on the north, and Ocean Avenue and SE 2,.d Avenue On the south. t\.-fajor projects throughout the eRA incll1de the Heart of Boynton Plan, for affordable residential housing the BOynton Beach Bh'd Corridor Plan, identifying the potential redesign of the corridor from interstate 95 cast to Seacrest; the Boynton Beach Blvd Extension, with a pedestrian promenade to serve as a g<Hhering place for residents and guests; among others. The eRA has numerous grant and incentIve programs to facilitate the transitions of the properties within the redevelopment areas. The Community Redevelopment Agency is funded through a property tax increment, an increment created whenever a property in the eRA. area increases in value over the base year \'alue. Througho.ut Boynton Beach, there is development activity: c Jaycee Park redevelopment including destination docks, restrooms, playground equipment, two bocceball courts. picnic pavilion, interpretive kiosks, parking, boaniwalklwalking path system, and fishing pier; o A new fire station at 1919 South Federal Highway, with 18 new firemen, new rescue uoits, and one new engine; t:A'ITR:l.1. Itt:AL EST....~.r.. ]~c. 18 o A new public safety center, at Highridge Road and Gateway Blvd, to include a new fire station; o Completion of the senior center, with a 3,500 square foot expansion; o Library expansion to include a two-story, 32.000 square foot addition; o Landscaping and beautification projects completed at Dian Drive, Four Seas Suns, Coastal Towers, Chapel Hill, CitTll5 Glen> and Lawrence Lake Estates~ o Constnlction of Marina Village is underway; o The Promenade as received approval; o The .-\rches was granted an extension for revisions to their site plan; o Three recently approved projects along Federal Higrrway \...-i11 add 206 residential units; o At the north end of Federal Highway, two former mobile home park~ are being converted to town homes and condominiums; o Renaissance Commons, located at the former Motorola site, at Congress Avenne and Gatev.:ay Blvd. \Vhen completed, this site will add over 1,600 residential units in addition to commercial and retail space; o The Heart of Boynton Corridor is well underway '....ith the scheduled demolition of the Boynton Terrace apartment complex. The Bui!ding Division of Boynton Beach has issued a record-setting number of building p~rmjLs. Although many are the result of hurrica.ne damage incurred last fall, the departmenr aCllv][ies include over S190 mi1lion in ne\>,' conslrucliQl1 completed and another S660 million ip. permirted constrnction since October 2004, CO]\'CLlJSIOI\ Boynton Beach wiII continue to grow at unprecedented rates. Historically, non-de script community, this third largest city in the county has taken note ofils past lack luster appearance, and has started to attract developers and investors into tile city. The cffons have met with much success, as noled above. Boynton Beach has a prime location: );.. 43% .of the total poplllution of Palm Beach County lives \vithin 10 miles of Boynton Beach; >- The average household income in the groeater Boynton Beach area exceeds 562,000; >- The median age is just under 42 years; and, :> Over l}OOO people per day are moving to Florida. ('i\:-;l'KeLL REA\. EST:\TF.. II\"C N .,; ~ ,lI ~ !i ~ ..... <( ~ ] ~ ~ ~ 1: o Z oC '" Q: .~ c 1: ~ o ~ ~ ill ~ III :r ~ ~ .g ~~ <DoC i~ P d ~~ J~ ~!: ~z. ~... fj I~ !!I- ~.e ~i ~.~ <>.'" ~O> '"-0 ..c H c.. "2 "'..... ~ . ~j a" ~~ ::1'<:: ~~ ~d l!!~ ~~ fg 0'" 09 20 SITE DESCRlYflON The site description is a detailed listing of Ihe fachlal data~ which affects the site and is organized in three major groups: physical characteristics, legaL/governmental factors, and Ioeational attributes. An analysis of the factual data and its relationship to the neighborhood characteristics that create, enhmce, or detract from the utility or marketability of the site is provided in the Highest and Best Use section of this report. Portions of the foHo\'l'ing site description are based upon severa! sources whlch include: (1) physical inspection of the subject property, and. (2) pLlblic records o[Palm Beach County, and the city of. Boynton Beach_ PHYSICAL CHARACTERISTICS Shape and Land Area The subject site is approximately rectangular, with 237,425 square feet, or about 5.45 acres. The total site is bisected by NE 6th Court. The total site has about 454 feet of non-contiguous frontage along the south side of ~E 2nd Avenue: also known as the east extension of Boynton Beach Blvd; ahoul 580 feet of frontage along the east side of Federal Highway; approximately 454 feet of non-continuous frontage along the north side of Ocean Avenue; and, a combined approximarely 1.160 feet of frontage along KE 6th Court. The subject site is depicted belo\\-'. I (~ ! I : - II.~~J -fitz~fDAVC----:___ I - ...---..-..___--- 1I;:;N CZtll . I I. c~{I1 ---......!_-.1 if""';' f 02;(>.) , ! I , ! ~, i~~~;;:.;~1 n::.... SA..Ul~-CC --.' ; ,I c:. , }71 : (oj) It. i ~ ! (iN1 ; : n___ . . L{'I;;Y i 1 ! ;"'-1:: .;---J II tll J . v- '01_ . "____ 0Z7Z vz.}! l ~ -----1 H21' =l~ "" S l'I< ~ > ,.. .' --.- - - .:~. ~~. .^.~. ..1 J ~u.... ::'i1Jl{ ~ 1., ~ : I: if ., ._-, ~ ~ KoHl: ~ -< I ...~,_. r.-] ~~l ~ ~E'.A~ "'Ve. ~,~I ~1 t~ ; ll'Ki"'--r=~! I:~ t "'" (W::zt !oo.U op2Yt r '" I I 7'i'~' ~ g 00501>: ,. ;;:l L----'--se.1'A"F-A '" 1.::1 >. . ~ :: ,I I ~~ i 1~-- ~ JIC>6.5oC., QoIl700 e710: , i .1 -<.[ .1 . - ~"i! _~r"~r~~~l~ ~1 or1 ~. ~ l r "-7 I , ~ ~ 00 Ii> I ~............... (:...1iTRELl R.E:AL. t;:)T.,<TE. I>lc. 21 InETess/E2rcss The points of ingress/egress to the subject site include direct access from Federal Highway, Ocean Avenue, and l\""E 6>h Court. As of February 14, 2006, vehicular access from Boynton Beach Blvd extension bad been obstrucled due to road improvements. The intersecti.ons of Federal Highway at Boynlon Beaeh Blvd and Ocean Avenue are signalized. Federal Highway along the subject frontage is median-divided. Similarly, Ocean Avenue along the subject frontage is median-divided. Topo~raphv and Draina~e The subjecL sire is relativcly flat and has an elevation similar to frOliting streets. Drainage appeared to be reasonably adequate and fLlnctioning at the time of OLlr inspection. SoU and Subsoil Conditions A soil engineering report was not provided to the appraiser. As explained in the Assumptions and Limiting Conditions, no responsibility is assumed for hidden or unapparent condttions th?t wOllld make the property nwre Or less valuable. Generally, the soils appear to have adequate bearing capacities as indicated by the structural integrity of the buildings located on site and orher ncarby developments 1n the area. l.:tiJities and Public Scnicc.s EIectn<: service is provided to the site by FPL. Bell South provides phone services. Water and sanitary sewer services are provided 10 the subject site by the City of Boynton Beach. Stonn\~"'ater se\Vers are pnn:ided by catch bastns located wilhin the major fronting streets. Off-Site ImproYements The total SlLbjcct site is bounded on lhree sides by public right~of-ways, wilh a 4,i: street bisecting the site. SOl.1th Federal Higfnvay in the immediate vicinit), of the subject is a four- Ian.;, median divided north-somh right-of-way, fully improved \vith curbs, gutters, anc. sjde\valks, and periodic turning lanes- East Ocean Avenue in the immediate vicinity of the subject is a four lane, median divided east-\vest right-of-v./uy, fully improved with curbs, gutters, and sidewalks, and periodic tuming lanes. Several hundred feet east of the subject. Ocean Avenue crosses the lntracoastal \Vaterway via a drawbridge. The eastern bOHndary 0: the subject site is a parcel currently under private o\.vnershlp being developed \vlth a mixed-use project known as Marina Village. Bisecting the subject is )(E 6lh COUlt, which is a tv"o-lane minimaliy improved tertiary roadway, NE 2;,d Avenue, which is the easterly extension of Boynton Beach Blvd., fOmIS the northern border of the subject site. The right-of-way is in a state of transition at this time, planned to become tlIe Promenade, also knO\vn as Boynton Beach Boulevard Extension Project. The project that will extend from Federal Way east to the Intracoastal Waterv,ray has been designed as a pedestrian and vehicular gateway. This area will provide the community with an CAr-. ,.ft~.I.~ RE,\... ;o:<;T A T=:, [~.c. 22 On-Site Improvements The subject site has been improved with several buildings and site improvements. LEGAL AND GOVERTGfENT AL FACTORS Easements. Restrictions, and Covenants A portion of the subject property has been legaHy configured as an office condominium complex. \,"'e have reviewed certain documents relating to that proje<:t and found no evidence thaI would not allow redevelopment of the property. The ,"estern portion of the site has been improved with a bank branch that is currently under lease. We have not been provided with a copy of the lease nOr any informatlon pertaining to the remaining teml. We have assumed for purposes of this appraisal that there are no easements, resnictions or covenants that might exist on the property, that could not be removed and/or satisfied through reasonable means, to al10w for the proposed redevelopment of the subject site. Flood Hazard An examination of ahe Federal Emergency Manag.;:ment Agency's (FE.\1A) Flood Insurance Rate Maps indicates that the subject property js located on Community Panel 120'I96~0003 C (dated September 30, 1982), wi thin Zone B, Zone B is described as an area bet\\.'een the limits of the 1 00- year and 500- year floo r hazard area. Enyironment.al Hazards During the course of this assignment, '\ve did not become aware of any IOxic substances (or similar environmental problems) that would affect [he value of the Subject. As stated in tl1e Assumptions and Limiting conditions section of this report, the appraisers are not quali fled [0 test for environmental hazards. During our inspection, we observed no unusual conditions such as hazardous \vastc containers or other potential sources of ground poUution at the site. Zoniol! and Land Use The subject site 1s currently zoned CBD, Central Business District, by the City of Boynton Beach. This zoning classification is intended to pro'''ide a highly visible community focal poim integrating business, retail, recreational, and residential activities. The uses allowed in the central business district are intended to serve the entire community, create a high volume of pedestrian activity. provide business, recreation. and residential opportunities, and maximize rhe potential of the waterfront. Permitted and conditional uses include: o Eating and Drinklng o Entertainment and Recrcatjon CA1'-,llCLf. RT:.\l E~T.Ct:. !i';,-. 23 o Hotels, Motels, and Residential o Offices and Financial Institutions o Public and Quasi~Public o Sep..-jces o Transportation Development standards include the following: Minimmn lot frontage Minimum lot dep:h Minimum lot ?rea Minimum front yard Minimum rear yard Minim~lm side yard .:vlinimum waterfront yard Maximum lot coverage Maximum structLlrc height 75 feet 100 feet 15,000 square feet none, at all floors 20 feet abutting adjacent property on the 1 S~ floor; 8 feet abutting street or alley at 1 ~t floor; None, at all other floors NOlle, for interior lot lines; 8 feet abutting street or alley at 1 SL floor; none, at all other floors Regardless 0 f ~he orientation of the lot or parcel, an 8-foot setback shaIl be maintained from a building or structure and any navigable water 75%; 85% for parking garages 45 feet. not to exceed 4 stories. Multiple-famHy dwelling unity density maxlmLlm 10_8 d\velling units per acre. The subject is locatcd in a mixed-use land use district. The intent and purpose of this mixed- use district is to allo\v for a diversity of hmd uses, and accommodate and encourage a mixture of residential, office, retail, creational, and other miscellaneoLls uses on assembled parcels within the community redevelopment area. All development and redevelopment shall require a site plan approval to be processed concurrently with the application for rezoning. The objectives of the mixed-use land use district are as follows: a. Support and enhance revitalization efforts in the cit)/s traditional commercial core area; b. Create major new residential and mixed use areas in plarmed locations '"'lith appropriate densities, heights, and mixtures of uses; c. Create optimal pedestrian environments through appropriate separation from, and design of vehicular circulation areas; d. Allow lkxibility in architectural design and building bulk; while maximizing compatibility and harmony ,vith adjoining development within the development area; e. Creale surrounding areas that complemenr racher than compete with the do\Vntown~ and 1: Create higher quality environments for residents, businesses, employees, and visitors- The mixed-use district shall be applied to selected geographic areas, east of 1-95, identified on the City's Fulme Land Use Map. Sub districts have been created, including Mixed Use-High Inrensity, MX-H: CAl'."'m<:L1.. RE:~L::S7...-rF. J~C'. 24 a. The MX-H district is appropriate for developments that provide for high density residential in addition to retail commercial and office uses; b. The district allow a maximum heighL of 150 feet and a residential density of 80 dwelling units per acres, provided that all new developments \vithin this district that front on streets designated as "arterial" Or "collector" roadways On the Functional Classification of Roadways .Map contain a mixture of retail, office, and/or residential uses arranged vertically or horizontally. The subject is located in an area that has been designated as MX, Mixed Use on the Future Land Use Map of the city of Boynton Beach. The subject is located within the original Community Redevelopment Area of Boynton Beach. Expanded over the years, the immediate area is now blOwn a Planning Area III ofth~ Federal Highway Corridor Community Redevelopment Plan. PlaIU1ing Area III contains the heart of downtown BO)11ton Beach, and includes the original CRA. Exceq>ts from that Plan, adopted May 15, 2001. include the following: Along Ocean Avenue on the east side of Federal Highway. lhere is a marginal, one-story strip retail development. 771e north side of Ocecm A venue in this area is contiguous 10 [he lmracoaslal Waterway and lhe uses are marine oriented that include charier ftslling and diving businesses. and n..'o SI/ccassfitl watel:front rest(wrtJllts. A mL"Ced-llse development project with a marina has heen approved and is schedule to begin construelion in lhe near fUlure []\flarina Village}. The marina portioll is nearing completion. Consrruction of mixed-use portioll, which will feature r,;stauJ'ants and retail 0/; the ground floor with residenrial units above, has been delayed several times heCtlllSe of various Issl/('s, bur is anticipated 10 commence in the near future. The imerseClion of Ocean Avenue and Federal Highwa~v. which is another major !lode, is low scalf! development, ~,,'hich is emphasized by the width of Federal Higl/l-vay. The inferseclion contains retail and office uses. except for the nonheasl c:omer, l1-'hich has a bank building. l\;'Ole that rhe drive-in for the bank huilding is located between the mai'1 building and the motel that is in the sowl1east corner of Boynton Beach Blvd and Federal Highwa.v. Recommendations for Planning Area III include the follo'.-.'ing; o A \vat(Jrfront public park/specialty rewil/residemial project that occupies the northeast COrner 0/ the Boynton Beach Blvd and Federal Highway intersection, replacing the existing strip shopping cemer [The Promenade]; o A hotel project that \1-'ould o..wlook the wateifrom amenilies; both the marina and the mangrove park; lind, o A marina project thar would include specially relail shops and more restaurants. The Boynton Beach 20/20 R~devdopment PLan thm was completed in 1998 also contail/ed recommendations for this immediate portion of Plmmiflg Area 111. The 20/20 Plan. Uk!! the eRA pLan, envisioned a waterfront park ami OI'er redevelopment afthe northeast corner of the Boymon Beach and Federal Highway inrersection. It a./so called for a pedestrian I environment along Federal Highway, recommendin.g building placement near the property line. Retail uses were envisioned along both sides of Federal Highway, with pedes/rian CA."lTJl.~!,L lGAl..l:S'P.1E., [lie 25 access placed mid-block. The 20/20 Plan did not discuss specific mixed-use marina project, and did no! consider the hotel concept recommended in the eRA plan, but did address parking. 11Ie 20/20 Plan noted lhal parking to serve the proposed relail uses would be critical in attracting people downrown, particularly during rhe initial phases of opera lion. As a result, rhe 20/20 Plan proposed parking in the 1Zortheast corney of Federal Highway Gild Ocean Avenue, behind the buildings that have street froll/age- This parking was proposed to serve the commercial uses that would be facetted on both the east and weSl sides of Federal Highway. ConcurreDC"\-' The exceptional rate of growth experienced by tile State of Florida over the past 30 years has placed unprecedented demands upon the local and state governments for schools, roads, bridges, utilities, police, fire and emergency medical seniices, a.nd recreational facilities. In ~n attempt to address these increasing dema.nds, and exert some control over them the Florida Stale Legislature passed the Growth Management Act of 1985. ill brief, the Growth Management Act required an of the State's counties and municipalities to devise their own "comprehensive land use plan" which \vould then be used to guide and control development into the foreseeable future. The concurrency provision of the Growth Management Act mandates that new development can proceed only v,,'hen the necessary infrastructure is already in existence or \vill be in place concurrent with the impact of the development This new law has effectively created a "pay as you go" system of implementing ne'" gTo\vth in a given area. If local governments are llnabJe 10 meel the demands which new growth \vill entail, the burden will be shifted to the individual property owner or developer. This new situation impacts the valuation of real estate due to the fact tl1at government at all levds is generally in a mode of reduced spending, and the costs related to concurrency will frequently be borne by the property owner. The concurrency provision also requires local governments 10 adopt level of servlce standards for p~lbhc facilities and services. These standards are to be specified in each cit)lS or coumies comprehensive plan, Developers of proposed projects are required to satisfy level of service requirements in aU seven categories- These categories are: roads, dl"<llnage, solid waste, sanitary sewer, potable water, recreation, and mass transit. Examples inclllde to1a.l car trips and/or average speed on roadways at peak traffic hours, amount of solid waste disposal per resident, etc. If the existing level of service falls below adopted standards, or if a proposed d.evelopmem degrades the level of service to an unacceptable level, the previously meJltio~led concurrency provision will then be implemented, and a development permit wil1 not be issued llmil the deficir is addressed. Developers who meet or exceed these requirements, and those projects which are grand f~thered into local plans, are considered vested. l\ew developments may be vested. by gaining a?provafs wi!hln the one year time period between when a comprehensive plan is transmitted to the state for approval and when the concurrency management system and land development regulations based on that plan are adopted. CA.''TREll. Rt;.\l.. r's~ATE .i'o:C_ 26 If the existing level of service falls below adopted standards, or if a proposed development degrades the level of service to an unacceptable level, the previously mention~d COnClL'Tency provision will then be implemented, and a development penni! will not be issued until the deficit is addressed. Developers \vho meet or exceed these requirements, and those projects which are grandfathcrcd into local plans} arc considered vested. New developments may be vested by gaining approvals within the one year time period betv:een when a comprehensIve plan is transmitted to the state for approval and when the conCUlTency management s)'Slem and land development regulations based on that plan are adopted. In August 2004. the Palm Beach County Comprehensive Plan was amended to alIo,",.' a Transportation Concurrency Exception Area (TCEA) to be created within the Boynton Beach community redevelopment area_ The redevelopment area, which is very large, allows for the follo\\'ing land use imensities without consideration for transportation concurrency: Residential - Hotel : Other Non-I ~~~able Land Us" Intensities Units ._._n Unjts Industrial OffJce Resi J Planned land Use Totals 7.000 ~50 235,000 2,400,000 , ,450,000 ~ ~llowabfe Variance 15% 25% 10% 10% 10% ... 'Maximum Allowable 8,050 563 25B,500 2.760,000 1,595,000 Minimum Allowable 5,950 338 , 21 ~,500 2,040,000 1,305,000 Allowable Vehicle Trips Daily Traffic PM Peal<: Hour Traffic I ;Planned Land Use b!et New Trips 45,976 4,510 , Allowable Land Use Ratios Residentia I/Offi ce Resid en tiallQti1 ef Non-Res i : Maximum Allo'Mabie Ratios 3_9 ! 5_3 Minimum Allowable Ratios 2.2 32 -,. Because of this adoption of the TCEA witllin the Boynton Beach CRA, we do not anticipate any concurrency issues for the subject site upon redevelopment. LOCA TIO~AL ATTRIBUTES Ge02raphic Orientation The S\lbject Property 1S located west of the Intracoastal Waterway, on the north side of OCGan Avenue, east side of Federall1ighway. and on the south side of Boynton Beach Blvd extension. It is bisected by)ill 6:h Court, in Boynton Beach, Palm Beach County, Florida, 33435. The subject is located in East Palm Bcach County, Total driving distance from the subject to Interstate 95 is less than 1.5 miles; Florida's Turnpike is 8 miles west; U.S. Highway I is adjacent wcst: and the West Palm Beach central business district is 10 miles north. II C'.\~'.R::U. 1(:;,\1. f.ST.....E. l'Ie. 27 Adjacent Laud lJses Lands in tne immediate area are in the process ofrevilalization to higher and better uses. A1i will be more thoroughly documented in the Highest and Best Use section of this report, there is significant redevelopment underway in the immediate vicinity of the subject. SUMl\-IARY The subject property is convenienl1y c!o!)e to the major thoroughfares serving eastern Palm Beach County, and connecting to the key parts of BrowaTdJ Dade, and Palm Beach Counties. Because of its slze, zoning, shape, location, and other physicaL'functional features, the subject site is \vel1 suited for commercial and mixed -use development. The site seems to have no unusual easements or encumbrances, DESCRIPTION OF THE IMPROVEMENTS F..xisti11g Improvements The subj eet site has been improved with two prima!)' building improvemenls and miscellaneous sj~e improvements. The eastern portion of the sl1c has been improved with a 4-s101'Y building constnlctcd in 1980. This building has been legally subdivided into 35 office condominium units, ranging in size lTom 800 to 1,200 square feeL The southwestern portion of the site has been improved with a bank branch ofTice and remote drive-up tellcr stations. This interior of this building was not inspected. Ho\vever, public records indicate this building was constructed in 1974, and contains 5,931 square feet. The remote teller location has a reported 230 square feet, brining the total buildlng area of the bank location to G,l61 square feet. For purposes of this appraisal, no further investigatlon or consideration has been given to [he existing improvements on the subject site, other than to report herein the current 2005 real estate assessments. Proposed Improvements The subject site, with 237,425 square feet, is proposed to be redeveloped with a mixed-use project knO\vn as Ocean One. The project \viU feature 530 residential condominium units, ranging from 862 to 2,303 square feet. The units ,viI] be single and double stacked condominium units as well as 12 townhouse units, and 8 penthouse units, The resident!ul component will wrap around a 6-level parking garage, with 1,715 spaces, and extend to 14 stories. The roof of the garage, level 7 'will include two swimming pools and.a clubhouse. The first floor of the non.garage portion of this building will include office/retail units, assumed to be configured as condominium units. Along the Feder<l.1 Highv".a.y frontage, there will be three buildings; the northerly building will feature a 120-room hotel or 12 stories and a rooftop amenity package, including s\vimming pool and clubhouse. CA'IT.{::l.l ~E.'\L OST.... T~. I ~c. 28 The middle building on the \....estem portion of the site is a five-story office buHding with desjgnated streetside retail uses. The southern building on the site, at the northeast corner of Federal Highway and Ocean Avenue will be a 12-story office building, also wjth streetside retail uses. Site improvements include 14 on-street parking spaces, perimeter landscaping along the fronting roadways and he 6:h Court; fountains, pedestriun seating, and signage. As previously stated, little detail rcgardhlg project specifics hav\.': been provided. All construction materials are assumed to be provided to code, using materials consistent with occupancy. in addition, certain assumptions are made regarding the various occupancies depicted for the project. Residential: Interior features are assumed to include granite CO~l11tertops with backsplash, custom cabinetry, tile flooring, stainless steel appliances in the kitchens; custom cabinetIy with marble counlertops and ceramic sink:, full height vanity mirrors, tile or marble flooring, glass enclosed shower. separate soakjng tub in bathrooms; 9' ceiling heights in Jiving space, higher in penthouse units; pre-wired for ceiling fans, high-speed internet, dam/voice, and cable access, tinted, energy-efficient and impact resistant sliding glass doors and \vindows, stain resistant waU-ro.walJ carpeting in bedrooms and living areas; and private patlos/decks. Hotel: Full service lobby with lounge, restaurant, valet, concierge desk. housekeeping services- Streets ide Retail/Office: The stree!side retail and ot1lce space is assumed delivered in an unfinished state. Plumbing and electrical wCll be stubbed to the unit, and exterior and common wulls finished to code. The floor will be dirt, or have a light concrete finish. Build~out will be [he responsibility of the purchaser. Office: The multi-fioor- office buildings arc assumed to be built-out, turnkey finishes, including drop ceiling with recessed fluorescent tighting; pre-wired [or security~ internet, data/voice. and cabJe lines; finished walls \viIh painted dryv..all and wallpaper~ \vall-to-w<lll carpeting with tile aE suite entrjcs~ and, core floor areus including elevators, rest rooms, utility rooms, stain-veils. The two office buildings \,'ill reawrc ground floor lobbies \vith reader boards for tenant rosters- Garage: The parking garage will include six levels and 1,715 spaces. There \vil1 be designated spat;es for handicapped persons on each floor The CEty of Boynton Beach 3ollO'\.\"5 ULI shared parking requirements to be applied to nlixed-usc projects. C,\:\'TRELL RE,\ 1. EST A E. [I\C. 29 HIGHEST AND BEST USE ANALYSIS Highest and Best Use, as used in this report, is defined in the T\....elfth Edition of The Appnllsal of Real Estate. (page 305) as follows: "... that reasonably probable and legal use of vacant land or an improved property. vt'hich is physically possible, appropriately supported, financially feasible and that results in the highest value." Market forces create market value, so an analysis of market forces that have a bearing on Highest and Best Use is critical to the valuation process. \Vhen the pUIpose of ~n appraisal is to develop an opinion of market value, Highest and Best Use analysis identifies the most profitable use to which the property can be pllt. The Highest and Best Use of a specific parcel of land is not determined through subjective ana~ysis by the appraiser; rather, the competitive forces with the market where the property is located shape Highest and Best Use. The analysis and identification of the Highest and Best Use is an economic stlldy and a t1nancial analysis focused on the subject property. Highest and Best Use must be reasonable, probable, and proximate (i.e., likely to occur soon, if not immediately). It is not speculative or conjectural. It mayor may not be the present use of the site, Highest and Best L"se can change over time as extemal market lorecs change. These changes include competition, effective demand, public tastes, and standard land llse requirements (e.g., zoning). In addition, the character of a property may change, thereby chang- ing its Highest and Bes! Use. To identify the Highest and Best Use oflhe land as ifvacant, the proposed use must meet four criteria. Those criteria are considered sequentially as follows: 1. Permissible t:se (Legal) - Those uses that are permitted under existing zoning and other land use regulations and controls, and under existing deed restrictions for the Subject properly (if applicable). 2. Possjble Use (Physical) - Those uses th~.[ are physicaIJy possible on the Subject site or in the Subject improvements, giyen the physical characteristics revealed by property analysis. 3. Fcasibre Use (Appropriate) - Those legally permitted and physically possible uses for the Subject property, \vhich are appropriate given the characteristics revealed by the markel, and the analysis of those uses that prodLlce any nct return to the owner or positive net present.value. 4. )JaximaUf Productive Use - That appropriate or fe:asible use for the Subject property, which will produce the highest present value. HIGHEST AlXD BEST USE PREMISE Highest and Best Use is the foundation on which market value rests. Most valuahon studies include 1he baslc assumption that both buyer and seHer are equally well infonncd and are well aware of the property's most profitable llse. The rational purchaser, assuming no undue pressure to buy, \vi11 base his purchase offer on this most profitable use. Likewise, the rational seHer, without any undue p,essure to sell, will not accept an offer below the price based on this CM"!l-ElL kEAl ~STATj':.I:-;C. 30 most profitable use. Therefore, the value estimate must be based on the property's Highest and Best ese. A proper test of the Highest and Best Use of vacant .land mllst consider all logical and feasible alternative uses. Ho\vever, the market usually limits the number of uses to a few logical choices. Each <lH.emative use must first meet the tests of legal permissibility <lnd physical possibility. The uses that meet the first tests are then analyzed to ascenain how many arc financially feasible. Of those uses thar are deemed to be financially feasible (i.e., those which produce an adequate return on investment), the one that produces the highest return to the land or the highest land value, is said to be the Highest and Best Use of the property. HIGHEST AND BEST USE - AS V ACAl'.'T PhvsicalIv Possible Uses The first constraint of the subject site is dictated by its phYSlcal attributes. The scope of the development would be limited by the ground coverage within its boundaries, the shape of the tract ofland and the configuration of any improvements. The sllbjecl site is r<,:ctangldar, with four-street frontage. The site has good frontage to depth ratio) with various options for improvements orientation, due to lhe four-street frontag~) including the intervening '\JE 6th Court. The site is fully served by all public utilities, including \....ater, sanitary and storm sewers, and electricity. The tot<l! 5i te is 237,425 square feet, or aboul 5.45 acres. The subject site has a level topography. As reflected in other commercial zoned properties, this site is considered quite adequate for a variety of uses. Besides the above mentioned, there are no other physical site characteristics that would significantly restrict the development Q f any land uses that comfortably fit on the site. LC2:aUv Pcrmio;sible Uses The second constraint on the use of the Sllbjcct site is dictated by the legal and governmental restrictions imposed on the land. The subject site is currently zoned CBD, Central Busine!>s District, by the City of Boynton Bea.ch. This zoning classification is intended to provide a highly visible community focal point integrating business, retail, recreational, and residential ' activities. The uses allowed in the central bL[siness district are intended to serve the entire conununity, create a high volume of pedestrian ac:ivity, provide business, recreation, and residential opportunities, and maximize the pot<ential of the \vatemon1. Tne subject site is also located in an area designated on the Future Land Use Maps a \iX, Mixed Use, High Intensity. The inlent and purpose of this mixed-use district is to aHow for ~ diversity of land uses, and accommodate and encourage a mixture of residential, office, retail, recreational. and other mlscellaneous llses On assembled parcels \vithin the community redevelopment area. All development and red~velopment projects require site plan approval to be processed concurrently with the application for re7.oning. The objectives of the mixed-use zoning district are as follows: C....:-.,R:-:l.I. RI;A:. ;':<;",,\"1":-:, [",c:. j 31 a. Support and enhance revitalization efforts in the city's traditional commercial core area; b. Create major new residential and mixed use areas in plalmed [Qcations with appropriate densities; helghts, and mixtures ofuses; c. Create optimal pedestrian environments through appropriate separation from, and design of vehicular circulation areas; d. Allow fiexibility in architectural design and building bulk; while maximizing compatibility and harmony with adjoining development within the development area; e. Create surrounding areas lhat complement rather than compete with the do\vntown; and, f. Create higher qLlality environments for residents, businesses, employees, and visitors. The development standards for the MX-H zonlng allow for more dense development, and height limitations are increased from 45 feet in the CBD district to 150 feet with the: MX.H zomng. The subject is located \.vithin the original Community Redevelopment Area of Boynton Beach. Expanded over the years, the immediate area is now kno"",ll as Planning ATea III of the federal Highway Corridor Community Redevelopment Plan. Planning i\rea III contains the core downtov./fl Boynton Beach, the original eRA. The recent Plan identified the immediate area of the subject as an area fOr intense mixed-use development, and specifically identified the eastem portion of the subject sit~ as a location to provide support parking for the various developments, both public and private, that are planned andior proposed for the immediate area. Rezone to mi xed-lise, high intensity is probabk: for the subject site, given the designation on future land use maps as MX. Under the MX-H zoning, the sLlbject sire could be developed as a mixed-use pTojecl, keeping with the six CR.~ goals for the area, as noted above. Financiallv Feasible Uses After considering uses for the subject site, which are physically possible and legally permissible, we must consider the influence of the surrounding neighborhood land uses and the recent growth and current demand within the subject's neighborhood. The primary detenninanl for financial feasibility is whether a specific use is likely to produce an income, or a return, equal to or greater than the amount needed to satisfy operating expenses, financial obligations and capital amortization. All uses that are expected to produce return are regarded as financially feasible. Within the area surrounding the subject, there is intense redevelopment planned/proposed, or undenvay. The Boynton Beaeh eRA includes a large geographic area. el1compa~$ing 1,650 acres. It includes the entire area of the ell)" east of the FEe Railroad IO the Intracoastal \Vnter\.",ay from the city limits north to south, as well as the area bounded by the FEe Railroad on L~e east, Industrial Avenue on the west, the C-16 canal on the north, and Ocean Avenue and SE 2nc Avenue on the south. The subject immediate market area, included in the original CR.';', identified in the late 1990s as Federal Highway Corridor Planning A.rea ill, has recentl}' become known as the Central Business District and Ocean Area. There are currently scverallarge-scak developments, with an estimated aggregate value of $800 million that ",ill occupy 30 acres proximate to the subj eel. C,"...'-':IRELL RE.-\.l ES':" A H, ["c. 32 .MarinCl Village is the first major development in the CBD to start construction. This mixed- use development is located along the '..-estern bank of the Intracoastal, on the north side of Ocean AvenLle, immediately northeast of ihe subject site across Ocean Avenue. This project will occupy 7.35 acres, and include 338 residential condominiums, 11 to\vnhomes, a restaurant, 38 boat slips, 17,600 square feet of reluil space, and combined garage and surface parking for 719 vehicles. Planned for years~ the site was rezoned from CBD to MX-H, for more intense deveJopment, with groundbreaking in 2004. The project is expected to be completed in June 2006. The first project of its kind in Boynton Beach, Marina Village sold out within one week in mid-2003. Investors, who often \",ill comprise up to 50% of purchasers for presale condominium units, make up only 20% at Marina Village, This statistic suggesIs pent-up demand in this immediate market area for lIsers. The Promenade is the second approved project in this area. This mixed-use development is located on the nor[hcast corner of Boynton Beach Blvd and Federal Highway, The project will occupy 3.94 acres, and will include 302 residential comlorniniLlms and 16 \vaterfront to\vnhomes; 77 condo~hotel units; a fully 2menity package for residents and guests; and, 20,000 squarc feet of retail shops and restaman1s. The compJex wil! include two 14-story towers that will provide views over the adjacent pl;md and mangrove park cast to the Intracoastal Waterv:a.y. This site is located one block llorth 0 f the subj eet at the northeast comer of Boynton Beach Blvd and Federal Highway. Prcsalcs for this project slarted in spring 2005, and all units were sold in one day. With csealating construction costs, all deposits were refunded, and units were again available for purchase in January 2006, at prices suggested to be about 20% higher than the initial 0 fferings in 2005.. Groundbreaking wi!l occur by J lme 2006, with an anticipated two-year construction period. .Tl1e Arches oj 80)-'11.1011 Beach is the neXI major development for this area. This project will occupy over 4 acres, including an entire city block bounded by Ocean Avenue to the north, Federal Highway to the east, SE 4[h StreeI to the west, and SE 2nd Avenue to the south. This location is directly across Federal High,vay from the subject site. This pnlject was originally slated to include 276 residential condominiums, 40,500 square feet of retail space, 12,100 square feet of office space, and garage paTking for 753 vehicles. However, when the developer was able to acquire an addilionaJ 0.5 acrcs, the decision was made to resubrnil new design work for approvaL Latest revisions now indicate 3i8 residential units and abotlt 39,000 square feet of retail/office use. As of January 2006, the project has received site plan approval, bllt no peJlTlit.s have been issued on the propelty. This project is slated to commence in 2006. Coastline Commolls is another proposed project in the initial stages of approval. This project, located at the nortllwest comer of Ocean Avenue and Federal Highway, just norlh of The .-\rches, has been represented as being primarily an office complex, with some retail llses, 1l11d an 11,000 square foot church facility. Bounded by BOynton Beach Blvd to the north, Federal Highway to the east, Ocean A venue to Ihe sottIh, and ='lE 4'';' Street to the wesl, this block also includes Veteran's Park, and a portion of the Progress ITajl at the sOllthwcSI corner of the block. The land has not yet closed for this project; nor has the project recei\'ed site plan approval. C A~ 1'RE:'L RE..-'..l EST.-HE. ]:>iC ....... ;):;J Boynton Beach Blvd Extension cast from Federal Highway to the lntracoastal is a public project currently underway. Kno\vn as the pedestrian promenade anu the Rivcnvalk, this minimally improved right-of-way currently known as NE 2r.~ Avenue, will be transformed into a community gathering locale, with easy walking distance to the Mangrove Park, planned restaurants and retail shops in the adj acen! mlxcd-use projects. and the Intracoastal. The promenade will provide a forum for community sponsored events. It ,,,,ill have permanent public accommodations, including restrooms, V.later fountains. temporary stage area, trash receptacles, shade, and seating areas. This area will represent the first commitment to public art in Boynton Beach, with several sites for <<Kinetic Sculptures". Ocean One is a proposed subject project. Formerly identified as the cornerstone for the downtown redevelopment, Ocean One \vas proposed to include the city's first full-serviee hotel, 1......0 ofticc buildings with possible retail space, residential condominiums, townhomes, and a parking garage, on lhe site bound by Federal Highway to the west Ocean Avenue to the south, NE 211C Avenue to the north, and \tIarina Vinage to the east. The entire site of Ocean One was to include 6.09 acres, including tile to-be-vacaled ~E 6th Court. The Community Redevelopmcnt Agency of Boynton Beach has purchased a smaH, nQrthern parcel. and is cllrrently using the site as a staging area for the Pedestrian Promenade construction. Maximallv Productive Use The maximully productive llse of the subject site "as i r vacant" is the use which creates the highest return to the land in the long run, amI rherefore creates the greatest overall land value. The primary concerns of a prospective developer of the 5ubjec:t site (as j[ vacant) are size. shape, zoning, possible synergy with surrounding land uses, and expected economic return. Given these considerations, we have identified the most profitable use of the land as redevelopment \vith a large mixed-use project to take advantage of 1he property's central location within the centTal business district ofBoyntol1 Beach. HIGHEST A="D nEST USE - "As Impr()ve,r~ The improvements constructed on the site include a free-standing bank branch with remote drive-up re11er stations built in 1974; and, a 4-story office condominium constructed in 1980. We have discussed herein the redevelopment projects that are planned and undet\t.'ay in the immediate urea. We have reviewed the preiiminary plans for the Ocean One project. to be developed on the subject site. \Ve conclude that the Highest and Best Use of the site as improved is for demolition of the existing improvements and redevelopment with a mixed-use project consistent with the redevelopment underway in th:,: immediate area. CA-'ITREL:- !tEAL :::STATr:, ;:'<l(;. I ~ 34 SALES COMPARISON APPROACH One method for estimating the retail value of the component units of the subject property, as proposed, is the Sales Comparison Approach. This method involves a process of gathering information from similar properties, which have recently sold, and, by direct comparisons, an indication of the value of the subject property is developed. The analysis can produce a good indication of value when there is an active market and the physical and economic aspects of each property are highly similar- The Sales Comparison Approach is based upon the Principle ofSubstitutioll, \.vhich holds that a rational, typica.lly motivated buyer will not pay more for one condomini~Lm unit than for another that is similar or equal in utility. Direct sales comparisons tend to best reflect the actions of buyers and sellers. The procedure reduces the sale prices of comparables to common units of comparison and, through a process of analysis and the application of judgment; a unit value for the subject unit is estimated and applied. A systema!ic five~step procedure for applying the Sales Compar[son Approach involves: Re$carch - the market for information on comparable properties; Verify . that the data is accurate and r~pl'e5~nta.tive ofanns-[englh tnm:sac~ions; Identify - relative price units of comparison; Compare - the subject with the comparables and either adjust the comparables prices tor those differences that influence value or bracket the subject property based upon the subject 's relative comparability when compared to the co mparab It:s; Reconcile ~ the multiple value indications into a single value or range ufvalues. Research. Verifieation And Units Of Comparison CO!'l~DO~fINIUM UNIT VALUE A search for recent sales of comparable office condominiums \""as made. Since the subject is proposed \vith no closed sales, \....e were unable to compare the subj.ect to any pending sales within the subject complex. V'le compared the proposed residential units of the subject property with the original sales at Marina Village, as \vell as the recent resales of those units. )..1arina Village is not yet completed construction; there are no closed sales to date. \Ve also considered the recent sale offerings at The Promenade. The infonnation was gathered fTom sales agents and managers at the respective sales offices, as wen as wi~h buyers of units in both projects. The sales information on Marina Village and The Promenade are included in chart form on the next few pages. C,\NTRcLL REAL [;ST ^ Tll. l!'C. ! tl:-~ C. D 15 ~, <.) ,~i ~~ t\l Q ,- (,,) >" ,-.~ .....,:"! .E:i~ ~! 2"' .!'J t: ., " a. E (') ~ o en \,,) ..j ~~ .2 o~ ;,,g ~~ ~~ 1 N ~ S ~ "C c.. .... ~8 $ '2 e ;;; ~ ~k N tI \) ..: c.. Sgj 00 -- 0" o~ ~ ~ ~:' ~ v):i11 I 0, l"""J.,i"T'" 2: Si2: .:i ,." C'"': 0:: I ! ~~.U ~ ~i~ ~ :f: l~i~ g.t:J 0.:: I: :Q =:;J ~ to t:::)) ... ~.... 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I 'II I;~ j~"'lt'lglgl'g'~lglg'~' J8 1\;1; ~ ~I~ ~~~ ~ ~ ~ ~ ~~:~!;,~.~ ~)~.~ ~ :2 ~ ~!~i:~'~I~ ,.~ ~I~":~'=~ :~_~ ~ Il'~I:~J~ ~~ ~f'I'W~ ~: - ~ ~l~'a 5.5 E~a 3 g (3 g -=1':'; c.; c;c {) :..J t,;:t: 'C j, 1 . III' otl "'I .", , ~: r II .II!~;~ ~ ~: ,1~i;!~lal~I~I! 1~I~i ~'-.~I'" I~I: ICQ 1 ;1 i III : II~~I il~ ~ I ~,: i IIII i , II g I" ! I ,! .i%I~I~I!I~I~'I' I~I~I' ~ ! li:~::: l~,~ ~2 2 :. !I~~:.:f: V) . 1/)14#"V,'V, o.r. ~ I :(,I),V> I : ;' l_Li_, I' ,I .",1 !-IJJ!.C'INIJ~'", "'I .; ,"c I '~C::':::I-':.'~occ~~ 2; ~. 'I'" .......".,. -'> ~ ~"'iGl: , ~ - ,-I -~'~i,!,!-IJJ~;~ ~t_~~"~~I!"~1.li5!lj / !,,~!g~il'~f~":5 $ ~ ! ~ ~ ~ ~I.~ 2 $. \? 2 L,- ;~'r! ?[ i~~jll'~I'~~'ii!;'I~I!~1'5,i~ Z Z a ~ ~ 5 5 ~::~ 8 ~ ~ 5 ,IZ 71 nlZ" z zlV::i'~ ~ ~ ~ i I ! :' ; II 'f J g ~[ ~ ~":~'~I-.tH_);> ~:: ~;:'t r3 otl~11l> ,.", ob~' ;;:0 .!:) ob 0'=1'" "" '" :::) <V L'"';"'q'....."'Q'V~,~I'Q'-.t~ ~'! ~11~i~r;T"'~,~51~!~I~ ~ i~'EII! 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Korth Toner Floor CUlInt Sir.e Price Ullit Price Comments 9th fir 2-2 1,385 $576,000 $415,88 10th fir 2.2 1,385 $579,000 $41&.05 +$3,000 per floor 12th Dr 2-2 l,38.5 ,~585,OOO 5422.38 +0.05% pcr noor Sili Ilr 3-2 1,625 $670,000 5412.31 9th flr 3.2 1,625 S6S0,OOO S418.46 -=-1.5 % per floor h 1 rh flr 3-2 1,625 S690,OOO $424.62 .,- $5,000 - S 10,000 per floor South Tower 5th fir 2.2 1,385 $540,000 $389.89 8th flr 2-2 1,385 $560,000 $404.33 -I- 53,000 - $6,667 per floor lIth fir 2-2 1,3&5 $569,000 5410.83 + 0.05% - 1.2% 9th fir 3-2 1,625 $680,000 5418.46 +$5,OQO per fluLlr I l2th flr 3-2 1,625 $695,000 $427.69 +0.07% Other Indklltors l bedroom units 2 bedroom tlllits 3 bedroom units S300,OOO up S400,OOO to $590,OOQ S600,OUO to $700,000 CA1'oo,R:;;:1.I. Rf.....l I;STATJ::, [~C. 38 ConclU5ion~ Residential Units The follmving price matrix for the subject 530 residential units is based on these general considerations and conclusions: 1. Consideration has been given to the view amenity of the subject, compared to those of Marina Village and The Promenade; 2. Base price for one bedroom unit on first level is $325 per square foot. TOVt.'11house units are valued at $350 per square foot, or 525 per square foot higher~ 3. Base price for Mo bedroom units, starting on 2nc: floor, are S360 per square foot~ 4. Base price for three bedroom units, starting on 2nc flooT, are S360 per square foot; 5. Like units increase 1 % per floor; 6. Poolside units increase 5% over non-poolside units on the same floor~ 7. Penthouse units increase 5% over 3 bedroom units on Floor 13. ." We estimate that units will be completed in 30 months, or circa August 1,2008. The avemge unit price estimated for the subject units, based on current doUaTs and current time, as if complete on January 1, 2006 is $373.92 per square fOOL \Ve have estimated that prices, and value will increase over the construction period. \Ve have applied an annual appreciation rate of 3% per annum to the current average price, and estimate that, as of July 2008, the units will have an estimated average market value of $401.96 per square foot. This r~presents the retail value of a single unit. The unit-bY-lil1it, floor-by-floor matrix for the residential units of the subject property, as proposed, is depicted on the following six pages. C.'\..'1TR.ELL REAL :::STATE. ,:-':C'. l"'l c- o 0 00 ~ CO ~ 0 -o~ t'! ~ '" ~ ....., 0 -0 .....~ DO 'r. ~ V") - ~ .... .... ." <r, 0 0 ... ~ ~ Cl 0 <oJ GO "0 0 0 ~ N N 'I:J 'I:J M .... ...... ,.... ~ y; V> VI f"; '" 0 ~ 0 ~ 0 '" 0 0 Q 0 0 C> '" ...:> ~ ~ ~ <;> <;> 0 0 0 0 ::;. rS ~ v.' on V> V) iP. .... 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C ,..-, <"l C) ~ - ~ . C ~ ~ ~ g i:j > "0 ;; ~ :: ;> :. 0 N ~ '7 <;' <';' <';' "" N N 'r, ~ ~ ... ~ 1 I ~: .. OJ N N <'". ,.., 0 lr"\ .. '"" ~ :.. 0 5 :. '" ~ ~ ~ ~ <,; " ... "" "" ~ g "" <J OJ ., U '" ~ 8 -;;l "I;;: v '0 ,.; f! -cr. .~ .~ '(i; <.- :";'! c "5 "5 C '" -;J g .-; .;;; <'l ;~ C ~ 0 ~ OJ ] ~ ~ Co ::l. ::i: :l;; t; - I .r. 6 P:: >0.,/ < < [:::J r= U 'J ~ ..> f- a... c ~ - C"~7RfLL RSl.l. ~ST"',E. ~~c. ! 45 STREETSIDE RETAIUOFFICE SPACE Tn addition to the residential units, the subject property will have some retail and office component located on the eastern portion of the site. These units will be ground floor, located along?'{E 6th Court, Oeean Avenue, and Boynton Beach Blvd extension. We anticipate that these units will be sold as condomilli Llms, in a finished shell state. We surveyed the immediate area, and fOLlnd that all the St:reetside retaiVoffice space at Marina Village was presold in 2004; no Llnits have been assigned for resale. These units \vere sold in a raw state, with no build out. In fact, the floor v....as dirt Their negotiated sale price at $225 would not represent val lEe at occupancy. as the purchaser would expend additional funds to . build the space out \Ve have assumed that the subject space is marketed as finished shell. However, if it were marketed as raw unfinished space, the purchaser would further improve the space. Therefore, ulrtm.1rely, taxable value of these units would reflect finished shall space. The retailioffice space at The Promenade is not available for purchase or lease as of this writing. Therefore, we expanded our research area to include recent Strcctsidc office and retail space located in mixed-use projects in nearby Delray. Although most of the projects in Delray arc smaller scale, they are located in and around the central business district of that city, and include residential units atop or adjacent. The cnarI On the next page summarizes the dala gathered from numerous projects ill De !ray, including specific unit sales, as well as unit prices for a range of units. These indications of pricing were veri lied with developer agents, or similar credible sources. The sllbj ect is proposed to include a total of 31,772 square feet of Streets ide retail/office space. \Ve estimate that the uuit sizes will range from 900 to 1,000 square feet each. We conclude from the data that a unit value of$275 per square foot for finished shell space is reasonable and approprime for the subject space, This estimate represents the retail valu.;: in CUlTent dollars, for sp~ce as finished shell, assuming it \vere available today. Similar to the residential llnlts, we have applied a 3% per annum appreciation rate to the cunent estimate value of these Streetsidc rctail/oftice units. 31.772 sf x S275 psf = 58,737,30D CA.\iTRE!.L REAL ESTATE, rKC. 46 ... - 0 ] ] ;;;;: :::: ~ 0 ~ 4.> ~ ~ ~ ~ ~ ~ :J <J l:J 0 <;:: ..c ~ ..c <ii '" '" '" or. ":;; -;;;; ";:;j u; v. '" " '" t: "0 "0 ~ "t:: "t:: ';j ~ ~ o;:;l ~ ":;l ':::l ~ ~ -;:; .., q) .... .... ~ ~ S:I ~ ~ ~ j - ..c .!::. .s::; ~ ~ u:; ~ "Cl. ~ V. ~ ~ ~ - ~ ,~ ,~ I~ I 0 ~ c ~ ~ :5 - ~ ~ U ~ il:' u:: ~ ~ " i.4 "'" "'" I..:... '. - u: '" I ,.... C< c/:J ..... - 0 0\ v, a :::> <:> <", 0 0 N ,..-, <..C> N C'o ~ q "'! ~ .0 <:> c ..., ~ 0 N ~ .., <r. "<l; ~ "'" ,.., N <:) <:) d E v, d 0 C'o cr. ci l"- N ~ ~ 0 0 C N V', '0 0 r" - '-0 ~ <"J N N <'l ,.... "" ,..-, N , , !""" '"" ..... N N ~ ,;<; <A 7l &<; b<; ".; .0 Vl (/) Vl ~ ..... ~ ~ N e:. .... 0 <:> c c 0 ~ <6 v~ tJ C a 0 0 C t'- C ,~, :;t:; V', ~ 0 .- c 0 :::> :::> c 'r'. e <'I :;r. V'. ~. V - o. 0 :::> ..... 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'<:7' "" ::::: ~ ::0; >. >. ^ i:: -. !: - - - - ... ~ ~ ~ ":;J '=' ~ ~ Q :::; ~ >. ('I c j ~ r:: ~ \..J ::; V - ~ .!:: :::- l.l -: ~ ~ '" - ~ ~ ...5 .= -- r:/'.i :::J <': !:; E >., >. 2 ~ ~ '" c: U C;; 0 G) <:.I - '" ?; ~ ~ '" ::l 0 ~ '.:l:: .:.::: ~ (.j (.J ... -= .E .:::: u u ;.= - ~ ~ 0 (J ... ~J (.J <.l 0 C 0 '" > >- > > :- .... n n a C ::l - 0 2 ;: E ::> 0 ~ .- C .!l ~ .\:: .~ ~ q) "" "" 0; '.;) c; c == > c; u u ., -< '-" .... "-' ~ '" ... ~ ." u -!:! -~ .~ ,~ .~ e'l ~ .5 :.- r' ;:: c:: :> ~ - - .... (.j <: <: < ... r.:: ~ ~ CO> ~ '-' '.j (J ~~ ~ .s ~ =: 0 '" ~ ~ - u , 2 .;::; oF. c: - c ~< < < < ~ -- 'n " ~ .~ ci ..- .0 N '" '<t ~ - ('I r~, '<;" -r. -c l"- ee C' ~ ;Z; ..... ;z; C',\:o.-rRELl R!:AL EST.~T:_I:-;,'- J 47 OFFICE SPACE The subject project will include two mid-rise ofiicc buildings, \vith 5 and 8 stories. These two building will be located along Federal Highway, with excellent site promlnence, Our search for comparable office building sales was expanded beyond the city of Boynton Beach to include the cities and communities along the 1-95 corridor in Palm Beach Counry, We also limited our search criteria to building constructed in the past 20 years. Our search revealed seven closed. sales of office buildings with 92,943 to 242,085 square feet for critical analysis. The seven sales are summarized on the chart on the next page, The unit prices range fom1 $145.45 to S320,67 per square fool. The Flagler Watervie\", with 165,000 square feet, reflects the lower end of the range. This 10- story office was constructed in 1998, and is situated along Flagler Drive, with views of the Intraeoastal Vo./ aterway. Among the sates presented, the most comparable are Sale 1\os. 1, 2, and 4. Two of these properties are located in Boca Raton, along Federal High\vay. These bulldings are 4 and 6 stones, similar to the subject. The third sale, No.5, is located .along Military Trial. also in Boca Raton. The unit price of S206.54 per square foot for the 242,085 square foot, three building complex, reflects the discount for location. Sale I, the Compson Financial Center \Vas constructed in 1987; it reflects a unit price in October 2005 of 5285.12 per squarer foot. Sale No. 2~ [he 595 financial Center, was constmc[ed in 2003; the June 2005 reflects a l!nit price of 5320.67 per square foot. This building is among the highest rental rates in Boca Raton. After considering the impact of location and age on price, we conclude a unit vallIe of $275 per sq[,!are root for the two office buildings proposed for the subject site. Tbis reflects the value of the 123,099 square feet of office space to be constructed along Federal Highway, The act[,!al buildings could be sold <LS a single unit, or as two sales of one building each. This vahle level reflects current 2006 value. Similar to the residential units, we have applied a 3% per annum appreciation rate to the current estImate valuc of these offi<:e buildings. 123,099 sf x $27 5 psf 533,852,225 C.\",R~l.1. 1t~...1. r.$l'.';;E. r.\C. ~ 48 V} r'o1 l"'- V) "<t <". V) c:- o; ~ '<:' or. .,... "": CJ '" <;;> C'\ '" '=' V) 0':> ~ r--. 0 v, '<t ~ <'< M N 0' I., V'l or., """ .... "'" lA ~ .:) C 0 <;;> 0 c ::> 0 0 <;;> <;;> 0 0 <..> 0 0 C 0 1(", ::> .- 0 d 0 6 <;;) - "=' c.. 0 <::> 0 c t"- o Lr1 N ~ q 0 ::,.l 0 r:-: c.O c or, -<i ~ N r"l r"l <('. or, N r.r.: vi ~ ~ or. "'" ~ o:J ~ V> ....., 'r. -.:' ~ IZl 0 0 0 0 "<t 0 0 0 ... (',; <;;> 0 N 0 0 0 -.. N N ~- N ~ ...... Qe <lG -.. c:; ::::: 00 N N ......, - !:: ::::- 0 -.. -.. C <C ....; '" ,...-, Cl r"l <00 '" V'\ ~ 0 -< :0 :::> OC ~ 0 ~ "'<:" 0 ~ O. M. q 0'. >.,:). <-f \r, N or. V', Z ~ - "e' loG: '" '" N >. v.; ::> 0 ..... '<:r ..;: oq- .ZJ :::: t"- ~ Co. r- oo :.a x. :;/.; g C ~ ~ N "" c- o. ;.. 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[:-;c. :- :- 49 HOTEL The subject project w111 include a 120-room free-standing hotel at the southeast corner of Federal Highway and Boynton Beach Blvd, The hotel will include a ground floor lobby, with restaurant and lounge- The building is proposed to be 12 stories, with amenities atCfp, including a swimming pool. \\'e have been given no further information on the hotel. However, \Ve assume that it will be a flagged facility, \vith typical complement of services and amenities_ Our search for recent sales of hotels in the immediate vicinity of the subject did not disclose recent sales of facilities considered compaf'~b]e to the proposed subject faeility. In fact, expanding the markel area for hotels along the 1"95 corridor revealed few sales. We expanded om search 10 include northern Browaro County, and have idenllfied two comparable sales and one sale that set the upper limit of value for the subject. The Promenade, 11'1e mixed-use proj cet to be constructed just north of the subject, will have 77 condominium-hotel units. These units will be available for nightly stays, and wlil compete directly with the subject hoteL These condominiuill"hotel units have net yet been marketed, so J I \Vc have no information on pricing. Hotel 1'.0. l\-ame Location Rooms Date of Sale Sale l~rice Price I Rm ] Hllmpton l:m, D(;~,.neltJ 660 W HillsbofO 106 I 0/2 ] /2004 ..;] 2.Sg&,OOO $ 12 [ ,585 ~ H~mplon Inn, PB Gllrd~'Tls 400 I ReA Bh'd 117 1 0..'2 1/2004 S :4,915,000 S127,564 .:; Ritz Carl.on, Palm B(;ll(';~ 100 S O<:,;eun Blvd 7.70 11/11/2003 564,500.000 $238,889 Based on the limited infonnation gathered from the maTket, we have estimated a value of S 125,000 per room fOT the subject hotel proposed to be constnlcted on site. This value Ie\-'c! reflects current 2006 value. Similar to the r~sidentjalllnits, we have applied a 3% per annum appreciation rate to the current estllTI<lte value of these office bLL1Tdings_ 120 rOoms x $125,OOOpcrroom - $15,000,000 CA.\lB.E11.. REAL 8ST,\T;;" r.-;c. 50 GARAGE PARKING STALLS The subject project has been previously identified as including a 1,715-space parking garage, and 14 street spaces, The city of Boynton Beach allows for ULI shared purklng for mixed-use proj ccts, The subject project will have components that arc sold to indlvidual userS and owners, as well as major components, sllch as 1he hotel and office buildings, that will h.ave parking requirements associated with their uses, We have not been provided with any information penaining to the parking spaces. \vhether residential unit purchasers will be given options for outright purchase of additional spaces, or just license agreements for use of unreserved spaces within the garage. We do not know if the office and retail units that are assumed to be configured as commercial condominium units will have similar parking agreements with the developer, Dr if parking spaces can be purchased outright. In OLJr estimate of value of the hotel, \ve assumed that there would be a minimum of 120 parking spaces included in the sale:, For the residentlal units, we assumed a minimum number of parking spaces associated v..lth tile llnirs_ This ,vas considered for each of the property types for the subject, whether the property components were sold uS lndividual lmits, or as large components, such as the hotel. The parking calculations provided to uS depict a parking requirement per Boynton Beach City Ordinance 0 f 1,634; this reflects 615 spaces for the office buildings; 159 spaces [or the Streetside retaWoffice space~ 120 spaces for the hotel; and, 740 spaces for the residential units. After app1)~ng the ill! shared parKtng standards to the subject project, 1he ma:dmurn peak parking spaces required is 1,327 spaces, The subject, as noted, \.....iU be providing 1,729 spaces, including the 14 street spaces, This reflects 402 spaces not required as part of the shared parking scenario, Hov.:cver, we do 1101 knO\V if the subject developer, working with the BO)TIIOn Beach Community Development Agency, has made arrangements for certain spaces to be available for general public lise, As a result, there may be an opportunity to sell parking stalls. We have not specifically identified additional value to the "excess" parking spaces, since we do not know 1 f there will in fact be additional parking spaces available for retail sale. Ho'wever. if additional parking spaces could be 801d, lhe market data garhered in the area indicates a cun'ent value of SlS ,000 per space, c..u. '1'R.E:'l REA,- EST..... :E. ,~c. I 51 SUMMARY OF AGGREGATE RETAIL VALUE OF OCEAN ONE, AS PROPOSED Our scope of work has been narrowly defined at the request of our cllent to estimate the prospective retail values of the various building components at completion of constmction. We understand that the use of the appraisal is to provide our clicnt with the aggregate retail values of the project components for planning in connection with Tax Increment Financing, as pari of the Boynton Beach. Community Redevelopment Agency Direct Incentive Program. We identified fom components of the subject project: . Residential units, including condominiums and townhomes . Streetside retail/office commercial condominium units . A 120-room hotel; and, . Two mid-rise office buildings with a combined rentable arca of 123,099 square feet. Each of these project component!; is assumed to have a complement of garagc parking stalls included in (he concluded values. It is unktlown whethGr additional parking spaces will be available for purchase, beyond those identified for the various project components. Therefore, we have not included all additional value for any potential "excess" parking spaces that might be available at the subject. The propelty components were valued based on a retail basis in 2006 dollars; that is) we estimated the current vallie .tor example, of a single residen1ial condominium unit, as of February 14, 2006. Similar analysis based on current and/or recent commercial condominiums; office buildings, and hotels were also developed. reflecting value as of Febmary 14~ 2006, assuming the project were constructed today. We have estimated that the subject \,,111 have an approximate 30-momh constnlction period, suggesting completion circa July 2008. Over the next 30 months, there will be price (and value) appreciation among the real estate components or the subject project. Our research of historic escalating prices in South Florida indicates that the pellod of double- digit annual appreciation is subsidlng. Several market indicators, including extended marketing times, reduction in average home sale prices, and conversations with market partieipants suggest that the market will continue to appreciate, though at much redLlccd rates. We have assumed that market appreciation for the subj ect project over the next 30 months wilI be similar to the average annual inflation rate over the past 30 years, or about 3% pe, annum. We cherefore conclude that the taxable value upon completion of the proposed cons1ructioll of the subject project, estimated to be circa August 2008, as represented to us as of February 14, 2006, win be 7.5% higher than the aggregate market value of the subject, if it were constructed today. A SL!mmary of the composite values is included in chart form on the next page. (,A:-IT~E:'l ~r:AL EST ,\ To~ 1:-.oC. 52 Summary of Values 2006 At CompJeti~n No. Unit dggregate SP Aggregale SP Residential Units 530 units $241,203,458 $259~293,718 Retail 31,772 sf S8,737,300 $9,392,598 Office 123,099 sf $33,852,225 $36,391.142 Hotel 120 rooms $15.000.000 $16.125,000 Total Aggregate Retail V~lIues 5298,792,983 S321~202,457 C>\l--:-R.EL~ R.E,\:.. ~T AH,l:-lC- 53 MARKETING TIME ESTIMATE Based on our investigations. the marketing period is estimated to be rn'elve months at the above estimated market value conclusion, This appraisal docs not imply that this value will necessariIy be constant over the projected marketing period. REASONABLE EXPOSURE TIME According to Statement on Appraisal Standards No.6 of the Uniform Standards of Professional Appraisal Practice of The Appraisal Foundation, exposure time is defined as: the eSlimated length of time the properly interest being appraised would have been offered on the market prior to the hypothelical consummarion of a sale at market value On the effective dale of the appraisal; a retrospective opinion based on CUt analysis of past evenlS assuming a competitive open market. Thus, a reasonable exposure time is not synonymous with a marketing time estimate, as it is assumed to have occurred prior to the date of valuation, Inherent in the market value estimate is no! that it 'win sell \vithln tile estim~ted marketing time, but that it would have sold assuming pmdent marketing l.vithin some reasonable exposure time prior to the valuatioo date. In this instance, we have concluded that the reasonable exposure time occurring prior to the date of valuation that would have resulted in a contract of sale at [he market value estimate would have been approximately twelve months. ADDENDA PROFESSIONAL QUALlFICA TTO)lS AN~ ELIZABETH GILBERT, MAl PROFESSIONAL DESlGNATIOl\'S MAl - Member, Appraisallnstitute State Certified General Appraiser - Florida License Ko. RZ 2533 State Certified General Appraiser - Georgia License No. 293515 EDUCATION Graduate, Pepperdine University MBA, School of Business and \1ana.gement Major in Management Graduate, Kirkland College BA - Biology Appraisal Institnte Courses: Course No. lA Course No. 1 B Course No. 2A Course No. 2B Course No. 2C Course No.4 Course No.7 Course No. 310 Course No. 400 Course No, 410 Course No. 420 Course No. 420 Course No. 520 Principals of Real Estate Procedures of Real Estate CapitaliL.ation Theory and Techniques Case Studies in Real Estate Standards of Professional Practice Litigation Valuation Industrial Valuation Basic CapitalizatioTl .t\ationaJ l.)SPAP Update Standards o[Profcssional Practice Part A Standards of Professional Practice Part B Business Practice and Ethics Highest and Best Cse and \1arket Analysis Related Coursework: CLE: Eminent Domain Seminar EDUCA.RE: Education for Computer Applications in Real Estate, Course A & B APPRAISAL EXPERIENCE Over 25 years of commercial real estate valuation and evaluation in the public and private sectors, including appraising, cons:.Ilting, and ad valorem assessment work. 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( 'j; z o z -<( UJ U o ~ In .-- . ~ ;'.~ ,!' .' ., .~ ~ ~ -, i i; 1 I J I- i ~- i I L II " ," I! )1 I L: ~ ~.. :I . If .. . ;/, :>: ~~'7. \~. ~""'G Z5'"'w :r;>~ 1& ::J ;.-'" ----- - - >- f"'. U~: ~2:~ ~IYi-' '-' z< .::) ). I~ ~ ./- ..:.:j~~ J+< . .:.. ~;i,r-~.<>, . . '~>.:..~~ ;i;r~f~: ~I; .i~':' ,':"\ .' ; 1 J W..l IZ ,10 :1 IZ <( . w..J !U /0 ) j 'I ~ 1 . ,. f ;1I '1 :: ., o .:;....... .6.. . ..... . ":.: : . ~::?:.:.:C.~~. ...... t-. I ! / .~ ..:. ? :S..... ~; ;, ~ ~ ~ : 1 :1 '-.-' I :, .....:.- t,-\'r. c ~ ~ .~; z ~., ,':.j"" ~J ,'- ~,,3~ ,,- '.." ~ 4 l / -::-:... ~~I':-'."~:<.' . ::~4 ."<;: ~'.l -'9- .~. . J' ,..:,'~::~~ '~~I,~t:.,.'I.~1 \ . \.... ':'..:..~' ~.~:I:: ., . :"'~...;~."-' . ::~,,: -..;.; " ~..,... -;,< " - ':.,.,..11 I^ ~, \ Exhibit H Fiscal Impact Report NOTE: The Fiscal Impact Report is under revision and will be provided as soon as the revisions are complete. Page 1 of 1 Reardon, Robert ____,...,~___..__~.__~~_____._~L'_._____~...__-~.~-_,.__.__~~_._____..~_~. .____._.,_".__._~.__.~__._.______._..~._<',,______.._,________'__'__..._._~_-e___ From: Sally Stroh beck [sally@siemonlarsen.com] on behalf of Charlie Siemon [charlie@siemonlarsen .eom] Sent: Thursday, March 09, 2006 5:00 PM To: Reardon, Robert Subject: RE: slight confusion Robert, These exhibits were to have been transmitted previously. Our apologies for the oversight. Please let us know if it's easier for you to reeeive these documents to include in your package or if we should produce the needed copies. We are happy to accommodate you in the midst of our oversight. Sally Stroh beck Administrative Assisant -----Original Message----- From: Reardon, Robert [mailto:ReardonR@cLboynton-beach.fl.us] Sent: Thursday, March 09, 2006 12:01 PM To: Charlie Siemon Subject: slight confusion Charlie: I having the Ocean One docs readied for the meeting on Tuesday and I have a question on the missing or nearly blank pages (Exhibit E) and (A thru H). I want to assume these missing items will be presented at the meeting. Robert T. Reardon, Interim Assistant Director Boynton Beach eRA Boynton Beach, FL 33435 561-737-3256 561-737-3258 FAX VIII. NEW BUSINESS: IX. COMMENTS BY BOARD MEMBERS x. COMMENTS BY BOARD ATTORNEY XI. COMMENTS BY STAFF XII. FUTURE PROJECT PREVIEW XIII. FUTURE CRA WORKSHOPS MARCH 23, 2006 - RETAIL DEMAND ANALYSIS FINAL PRESENTATION & DENSITY DISCUSSION- LIBRARY 6:00 PM APRIL 20,2006 - CITY/CRA PROJECT PRESENTATIONS AND SAVAGE CREATURES DISCUSSION- SENIOR CENTER 6:00 PM XIV. ADJOURNMENT FORM 8B_ MEMORANDUM OF VOTING CONFLICT FOR COUNTY, MUNICIPAL, AND OTHER LOCAL PUBLIC OFFICERS IASI :l;AMI' IIM~d '''''I MIUUII' NAMF ~8 a:::;;":;; ('OIlNCI/., 'OMMISSION, AU., UOItITV. Olt ~~ IUF HO-\ltl>. COliN I.. COMMISSION, AUTHORITY OR COMMI1'-EE ON WHICll I SFRVF IS A UNIT OF: C COUNTY 0 U1HER LOCAL AGENCY WHO MUST FILE FORM 88 This form is for use by any person serving allhe county, CilY, or olher local level of government on an appointed or elecled board. council. commission. aUlhority, or committee. It applies equally to members of advisory and non-advisory bodies who are presented with a voting conllict of interest under Section 112.3143, Florida Statutes. Your responsibilities under lhe law when faced with a measure in which you have a contlict of interest will vary greatly depending on whether you hold an elective or appointive position, For this reason, please pay close attention to the instructions on this form before completing the reverse side and filing the form. INSTRUCTIONS FOR COMPLIANCE WITH SECnON 112.3143, FLORIDA STATUTES ELECTED OFFICERS: A person holding elective county, municipal, or other local public office ~IUST ABSTAIN from vOling on a measure which inures to his special private gain. Each local officer also is prohibited from knowingly voting on a measure which inures to the special gain of a principal (other lhan a government agency) by whom he is retained. In either case, you should disclose the contlict: PRIOR TO THE VOTE BEING TAKEN by publicly slating 10 the assembly the nature of your interest in the measure on which you are abstaining from voting; and WITHIN 15 DAYS AFTER THE VOTE OCCURS by completing and filing this form with the person responsible for recording the minutes of the meeting, who should incorporate the form in the minutes. APPOINTED OFFICERS: A person holding appointive county, municipal, or olher local public office MUST ABSTAIN from voting on a measure which inures to his special private gain. Each local officer also is prohibited from knowingly voting on a measure which inures to the special gain of a principal (other than a government agency) by whom he is retained. A person holding an appointive local office otherwise may participate in a matter in which he has a contlict of interest, but must disclose the nature of the contlict before making any allempllo influence lhe decision by oral or written communication, whether made by the officer or at his direction, IF YOU INTEND TO MAKE ANY ATTEMPT TO INFLUENCE THE DECISION PRIOR TO THE MEETING AT WHICH THE VOTE WILL BE TAKEN: · You should complete and file lhis form (before making any allempl 10 influence the decision) with lhe person responsible for recording lhe minules of the meeling, who will incorporale the form in lhe minutes. · A copy of the form should be provided immediately to lhe olher members of the agency. · The form should be read publicly at the meeting prior to consideralion of the matter in which you have a contlict of interest. CE !'ORM XB. 141 PAGE I IF YOU MAKE NO ATTEMPT TO INFLUENCE THE DECISION EXCEPT BY DISCUSSION AT THE MEETING: . You should disclose orally the nature of your conflict in. the measure before participating. . You should complete the form and file it within IS days after the vote occurs with the person responsible for recording the minutes of the meeting, who should incorporate the form in the minutes. DISCLOSURE OF LOCAL OFFICERIS INTEREST I, ~~ ~ , hereby disclose that on #f~ /~ ~ft;, .~: (a) A measure came or will come before my agency which (check one) _ inured to my special private gair.; or _ inured to the special gain of ~$ A../Nke.. ~/lJAjC /5 rlIJ ~&Pr'u'J C..LE~qF ~~ t ~/~ r,VC '/ aJJ77cr/ 7 ,E:JRP?~" , by whom I am retained, ! /j , c:vU .?'~i .-'J~~c. r"~. 'I ~ ~ --- - (b) The measure before my agency and the nature of my interest in the measure is as follows: /5 . / ~~f/I{P Date Filed I i I --"':J NOTICE: UNDER PROVISIONS OF FLORIDA STATUTES ~II2.3I7 (1985), A FAILURE TO MAKE ANY REQUIRED DISCLOSURE CONSTITUTES GROUNDS FOR AND MA BE PUNISHED BY ONE OR MORE OF THE FOLLOWING: IMPEACHMENT, RE\10VAL OR SUSPENSION FRO OFFICE OR EMPLOYMENT. DEMOTION, REDUCTION IN SALARY, REPRIMAND, OR A CIVIL PENALTY NO ITO EXCEED $5.000, CE FORM KB-I-91 PAGE