Agenda 03-13-07 (2)
~~Y~T2~
East Side-West S.,de-Seas.tde Rena.,ssance
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 13,2007
City Commission Chambers
6:30 P.M.
I. Call to Order - Chairman Henderson Tillman
II. Pledge to the Flag and Invocation
III. Roll Call
IV. Agenda Approval
A. Additions, Deletions, Corrections to the Agenda.
B. Adoption of Agenda.
V. Public Comments: (Note: comments are limited to 3 minutes in duration.)
VI. Public Hearing:
Old Business:
None.
New Business:
Site Plan Time Extension
A. PROJECT Ocean Breeze West (SPTE 07-002)
AGENT: Bradley Miller, Miller Land Planning Consultants, Inc.
OWNER: Larry Finkelstein, Affordable Housing, LLC
LOCATION: Southwest corner of Northwest 8th Avenue and Seacrest
Boulevard, located approximately 1,700 feet north of
Boynton Beach Boulevard.
DESCRIPTION: Request for a one (1) year site plan time extension for
Ocean Breeze West (NWSP 05-030) approved on January
3, 2006, from January 3, 2007 to January 3, 2008.
Seaview Park Club
Site Plan Time Extension
B. PROJECT Seaview Park Club (SPTE 07-003)
AGENT: Lorie Moccia, Lennar Homes
OWNER: Lennar Homes, LLC
LOCATION: 1620 N. Federal Highway
DESCRIPTION: Request for a second one (1) year site plan time extension
for Seaview Park Club (NWSP 04-014) approved on
February 15, 2005, from February 15, 2007 to February 15,
2008.
VII. Pulled Consent Agenda Items.
VIII. Consent Agenda:
A. Approval of the Minutes - CRA Board Meeting - February 6, 2007.
B. Approval of the Minutes -Treasure Coast Region Planning Council Market
Analysis - February 15, 2007.
C. Approval of the Minutes - MLK Corridor Workshop - February 15,2007.
D Approval of the Minutes - Special Workshop on Affordable Housing - February 27,
2007.
E. Approval of the Financials - February 28, 2007.
F. Old High School Update.
G. Dive Shop Lease Update.
H. Support of Local Artists. (CRA Initiative to support local businesses.)
I. Approval to donate $1,000 from the Board's Fund to Boynton Beach's Sister City-
Eleuthera Bahamas.
J. Approval to purchase a Table for the Annual Award Dinner - Boynton Beach Faith
Based CDC.
K. Allowing Electronic Funds Transfer "EFT".
IX. Old Business:
A. Approval to Purchase Properties Located at NE 5th Avenue.
B. MLK Corridor Development Agreement Update.
C. Consideration to purchase a vacant lot located on NW 12th Avenue.
D. Ocean Breeze Options Update.
X. New Business
A. Consideration of Purchasing the Women's Club.
B. Consideration of issuing an RFP for the Ocean Breeze Site.
C. Consideration of Sponsoring the Avenue of the Arts.
D. Request by Lasendra Hoggins for Homebuyers Assistance Program Funds in the
amount of $47,000.
E. Consideration of Issuing an RFQ for Professional Services.
F. Consideration of purchasing property located at NE 1st Street to be used for
parking for the Old High School.
G. Presentation of the New CRA Website.
XI. Comments by Staff
XII. Comments by Executive Director
XIII. Comments by CRA Board Attorney
XIV. Comments by CRA Board
XV. Adjournment:
TO:
THRU:
FROM:
DATE:
PROJECT:
REQUEST:
DEVELOPMENT DEPARTMENT
PLANNING AND ZONING DIVISION
MEMORANDUM NO. PZ 07-017 j
Chair and Members
Community Redevelopment Agency Board
~'C2..-
Michael Rumpf
Director of Planning and Zoning
Kathleen Zeitler fL
Planner '
March $, 2007
Ocean Breeze West (SPTE 07-002)
Site Plan Time Extension
Property Owner:
Applicant I Agent:
Location:
Existing Land Use:
Existing Zoning:
Proposed Land Use:
Proposed Zoning:
Proposed Use:
Acreage:
Adjacent Uses:
North:
PROJECT DESCRIPTION
Mr. Larry Finkelstein, Affordable Housing, LLC
Mr. Bradley Miller, Miller Land Planning Consultants, Inc.
Southwest corner of Northwest 8th Avenue and Sea crest Boulevard, located
approximately one-third (1/3) mile north of Boynton Beach Boulevard (see
Location Map - Exhibit "A")
High Density Residential (HDR)
Multi-Family Residential (R-3)
No change proposed
No change proposed
Townhouses
3.44 acres
Immediately north of the subject property is right-of-way for Northwest 8th Avenue,
and then farther north is a developed lot (church) classified Low Density Residential
(LDR) land use and zoned Single-family Residential (R-1-A), farther northeast is a
developed residential lot classified High Density Residential (HDR) land use and zoned
Multi-family Residential (R-3). Directly to the northwest of the subject property are
partially developed residential lots classified Low Density Residential (LDR) land use
and zoned Single-family Residential (R-1-A);
Page 2
Ocean Breeze West
SPTE 07-002
South:
Developed lots classified Low Density Residential' (LDR) land use and zoned Single-
family Residential (R-I-A);
East:
Right-of-way for Sea crest Boulevard, then farther east are vacant lots classified
Medium Density Residential (MDR) land use and zoned Duplex Residential (R-2).
Immediately to the southeast are vacant lots classified Local Retail Commercial (LRC)
land use and zoned Neighborhood Commercial (C-2); and
Right-of-way for Northwest 1st Street, then farther west are developed iots classified
Low Density Residential (LDR) land use and zoned Single-family Residential (R-1-A).
West:
BACKGROUND
Mr. Bradley Miller, AICP with Miller Land Planning Consultants, Inc. as Agent for the property owner is
requesting a one (1)-year site plan time extension for the Ocean Breeze West New Site Plan Development
Order (NWSP 05-030), which was approved by the City Commission on January 3, 2006. The site plan
approval is valid for one (1) year from the date of approval. If this request for a one (l)-year time extension
were approved, the expiration date of this site plan, including concurrency certification, would be extended to
January 3, 200S.
The subject property consists of 3.44 acres zoned Multi-Family Residential (R-3), located within the
boundaries of the Heart of Boynton Redevelopment Plan. The property was previously the western section of
the former Boynton Terrace apartment project, which has since been razed. According to the staff report for
the approved new site plan (NWSP 05-030), the proposed Ocean Breeze West is a redevelopment project
approved for a total of 37 fee-simple townhomes, recreation amenities, and related site improvements.
The 37 dwelling units (at a density of 10.S dwelling units per acre) are proposed as three (3)-bedroom units
planned within eight (S) separate buildings on the 3.44-acre site. Each building would contain either four (4)
or five (5) dwelling units. The approved site plan proposes one (1) model type, which would be two (2)
stories tall and 1,399 square feet "under air conditioning". The proposed buildings would contain some
elements reminiscent of Key West style of architecture. This contemporary townhouse design would have
standing seam metal roofs, decorative shutters and garage doors, and simulated wood siding.
ANALYSIS
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". Examples of building permits include
but are not limited to the following: Plumbing, electrical, mechanical, foundation, and structural. The
Regulations authorize the City Commission to approve site plan time extensions up to one (1) year, provided
that the applicant files the request prior to the expiration date of the development order. In this case, the
applicant has met that requirement. The Planning & Zoning Division received the application for time
extension on December 7, 2006, approximately one (1) month prior to the expiration date of the site plan.
According to the justification submitted far the requested time extension (see Exhibit "B"), the applicant
explains that (1) they have- applied for and received some land development permits, and (2) the remaining
permits were put on hold during meetings with the CRA which wanted to redesign or buy the project. In
addition, the justification explains that the property owner was also delayed for months due to a near fatal
accident. The justification also includes a chronology for Ocean Breeze West which details the "good faith"
efforts in moving forward with the project.
Page 3
Ocean Breeze West
SPTE 07-002
A more formal criterion for evaluating requests for time extensions is compliance with (traffic) concurrency
requirements. On December 12, 2005 the Palm Beach County Traffic Division approved the traffic study for
this project and included a restriction that no building permits are to be issued for the project after the build-
out year of 2008.
The site plan time extension is still subject to the original 30 conditions of the new site plan approval. Lastly,
no new land development regulations are now in place against which the project should be reviewed and
modified. As for application of the Art in Public Places ordinance (05-060), this project remains exempt, as
the new site plan request was filed and under review prior to adoption of Ordinance 05-060 on October 5,
2005.
SUMMARY I RECOMMENDATION
Staff recommends approval of this request for a one (1)-year time extension of the Ocean Breeze West site
plan (NWSP 05-030). If this request for extension were approved, the expiration of this site plan would be
extended to January 3, 2008. Staff is generally in favor of the redevelopment efforts represented by the
approved site plan, which serves to promote the goals of the Community Redevelopment Agency and the Heart
of Boynton Redevelopment Plan for this area and provide economic revitalization. The proposed Ocean Breeze
West project will provide an opportunity for redevelopment in a highly visible corridor in the City, increase the
value of adjacent and nearby properties, and contribute to the overall economic development of the City. If
this request for site plan time extension is approved, all outstanding conditions of approval from the new site
plan approval must still be satisfactorily addressed during the building permit process. Any additional
conditions recommended by the Board or City Commission shall be documented accordingly in the Conditions
of Approval (see Exhibit "C").
S:\Planning\SHARED\WP\PROJECTS\Ocean Breeze West\SPTE 07-002\Staff Report.doc
Exhibit "A" - Ocean Breeze West
Location Map
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EXHIBIT "B'
MILLER
LAND
PLANNING
CONSULTANTS, INC.
298 PINEAPPLE GROVE WAY
DELRA Y BEACH. FLORIDA 33444
PHONE. 561/272-0082
FAX . 561/272-1042
EMAIL/WEB.mlpc@mIPcinc.com
www.millerlandplanning.com
December 7. 2006
Ed Breese
CITY OF BOYNTON BEACH
PLANNING AND ZONING DEPT.
100 E. Boynton Beach Boulevard
Boynton Beach. FL 33425-0310
....;. -, i ! f i
- ;i Ii
FJ L DEe 1 2006 ; i Ii ! i
l L PLANNING AN" J" I
~ON!.!:iliJ2rr)T .. J
RE: Ocean Breeze West - nme Extension
Dear Ed:
Please consider this request for a time extension of one year on Ocean Breeze West. This
project was approved by the City Commission on January 3. 2006. Since then we have applied
and received some land development permits. The CRA wanted to redesign or buy this project
so the remaining permits were put on hold. All of this along with the owner.larry Finkelstein's
almost tatal accident at the end ot March have caused this project to be delayed.
I have attached a chronology ot what has transpired since being approved along with a
check made payable to the City ot Boynton Beach tor $500 and request that this time
extension be granted.
Thanks tor your cooperation.
Sincerely.
CLER LAND PLANN NG CONSULTANTS. INC.
Christi Tuttle
cc: larry Rnkelstein
M:\M L P C\PROJECTS\Ocean Breeze West\E. Breese time extension 120706.wpd
CHRONOLOGY FOR OCEAN BREEZE;WEST
3/05 Meetings with the Mayor, CRA Director, City Manager and Development Director
to inform them that I am looking to buy the old Boynton Terrace property and will need
their help in order to build an affordable for sale project for that community.
3/05 - 9/05 multiple meetings with City and CRA staff
9-05 bought property
12-05 Phase I site plan, DIFA and lien waiver approved
12-05 City places lien on property
1-06 Phase I site plan approved by commission
2-06 DIFA and Lien Waiver signed
2-06 Bank loan negotiations begin
2-06 Soft bidding begins
2-06 Letter to CRA, project numbers don't work; need assistance to do the project the
CRA wanted.
3-31-06 near fatal accident, in hospital for 2 months, then wheelchair, now in physical
therapy, walking again and back at office two days a week
4-20-06 Bank Term Sheet signed
5-05 Land Development construction plans final and submitted to City and various
agencIes.
5-05 Land development Permits applied for
6-13-06 Bank Commitment Letter signed
6-06 - Land development final construction docs started
7 -06 - Land development final construction plans finalized and permit applications
started
7/8-06 - Some land development permits received
8-06 - Remaining permits for land development needed respo~ses. Responses halted as
negotiations continued with CRA to redesign the project or sell the land to the CRA
9-12-06 received copy of agenda item that was voted on.
9-14-06 met with Vivian & Robert to discuss the Agenda jtem.
9-18-06 sent the CRA an outline based on their offer and clarifying details
9-26-06 Spoke to Lisa Bright, requested a revised contract based on the revised DI~A
terms to review before the meeting as agreed. Lisa Bright wanted to wait until she spoke
to all Board members as it seems the purchase is the preferred option.
9-29-06 "All roads are leading to purchase" lb (Lisa Bright) - so we must assume that no
revised DIFA or Developer's Agreement will be forthcoming
10-15-06 Lisa Bright says appraisal not high enough
10-25-06 CRA meeting - decided to go out for review appraisal, but no real timeline set.
10-06 Lisa Bright calls and says the review appraisal will not be done in time for the
November meeting and therefore it will not be on the agenda, so I should move on with
any plans I may have.
11-06 Since no offer to purchase the property was ever received and there has been no
further communications of any substance since the October meeting, the Developer must
move forward as the carrying costs during this wait for the CRA decision have been
significant.
EXHIBIT ftC"~
Conditions of Approval
Project name: Ocean Breeze West
File number: SPTE 07-002
Reference:
I DEPARTMENTS I INCLUDE , REJECT I
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 RECREA nON
Comments: None
FORESTERlENVIRONMENTALIST
Comments: None
.
PLANNING AND ZONING
Comments:
Conditions of Approval
Ocean Breeze West
SPTE 07-002
P 2
age
DEPARTMENTS INCLUDE REJECT
1. The site plan time extension shall be subject to all previous Conditions of
Approval.
ADDITIONAL COMMUNITY REDEVELOPMENT
AGENCY BOARD CONDITIONS
Comments:
I. To be determined.
ADDITIONAL CITY COMMISSION CONDITIONS
Comments:
I. To be determined.
S :IPlanning\SHAREDI WPIPROJECTS\Ocean Breeze West\SPTE\COA.doc
DEVELOPMENT ORDER OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA
PROJECT NAME: Ocean Breeze West
APPLICANT'S AGENT: Mr. Bradley Miller, AICP / Miller Land Planning Consultants, Inc.
APPLICANT'S ADDRESS: 114 North Federal Highway, #202 Boynton Beach, FL 33435
DATE OF HEARING RATIFICATION BEFORE CITY COMMISSION: Apri/3, 2007
TYPE OF RELIEF SOUGHT: Request a one (1) year site plan time extension from January 3, 2007
until January 3, 2008, for 37 proposed townhouses on a 3.44 acre
parcel in the R-3 zoning district.
LOCATION OF PROPERTY: Southwest corner of Northwest 8th Avenue and Seacrest Boulevard,
located approximately 1,700 feet north of Boynton Beach Boulevard
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
J :\S HRDA T A\Planning\SHARED\WP\FORMS\Blanks forms folder\Develop.Order Form-2001-Revised .doc
DEVELOPMENT DEPARTMENT
PLANNING AND ZONING DIVISION
MEMORANDUM NO. PZ 07-019
TO:
Chair and Members
Community Redevelqp.g1.R ent Agency Board
(uJ <!.../
Michael Rumpf I
Director of Planning and Zoning
THRU:
FROM:
Gabriel Wuebben
Planner
DATE:
February 26, 2007
PROJECT:
Seaview Park Club f SPTE 07-003
REQUEST:
Site Plan Time Extension
PROJECT DESCRIPTION
Property Owner: Lennar Homes, LLC
Applicant f Agent: Lorie Moccia of Lennar Homes
Location: 1620 N. Federal Highway (See Exhibit "A" - Location Map)
Existing Land Usef Zoning: Special High Density Residential (SHDR 20 du-ac) f Infill Planned Unit
Development (IPUD)
Proposed Land Usef Zoning: No change
Relief Sought:
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
Manatee Bay designated High Density Residential (10.8 dufac) and zoned Multi-family
Residential (R-3);
South:
To the south along Federal Highway, existing developed commercial strip center
(Yachtsman's Plaza) with an approved development plan for a 61 townhome
community designated Special High Density Residential (SHDR - 20 dufac) and zoned
Infill Planned Unit Development (IPUD); farther east, developed Single-family
residential (Yachtsman's Cove) designated Low Density Residential (4.84 dufac) 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.
Page 2
Memorandum No. PZ 07-019
BACKGROUND
Ms. Lorie Moccia, representative for Lennar Homes, Incorporated, is requesting a one (1) year 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. These approvals are valid for one (1) year from the date of approval,
unless a building permit has been issued or a time extension applied for. A site plan time extension was
approved in February of 2006, as the applicant was unable to secure a permit by the expiration date. A second
time extension is now requested. If this request for extensions were approved, the expiration date would be
extended to February 15, 2008. According to the modified site plan staff report, Seaview Park Club was
approved to construct a total of 64 dwelling units.
ANALYSIS
Lennar Homes, Inc. is requesting a second (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, 2008. All project conditions
of approval pertaining to the original Site Plan and Minor Modification would still apply.
In support of their request, Lennar Homes submitted a list of justifications. They note that since approval of
the first time extension, they have demonstrated their commitment to the completion of the project by
accomplishing the following:
· applied for and received a demolition permit on April 14, 2006
· completed demolition and clearing of the old mobile home park
· received a land development permit on July 17, 2006
· received a fill permit on August 14, 2006
· received a water and sewage permit on July 13, 2006
· received a paving and drainage permit on August 17, 2006
· water, sewer, and drainage construction has been completed and is currently in the final testing and
approval stages with Boynton Beach Utilities and Engineering
· the site has been filled and graded to proposed elevations
· dry utility for FPL, Bell South, and Comcast has begun
· the privacy wall near the south property line has been installed
· the bulk head wall has been installed along the Intracoastal Waterway
· the retaining wall along the north property line is under construction
· road construction is scheduled to begin on February 26, 2007
· the minor site plan modification to include docks was approved on July 24, 2006
According to Chapter 4, Section 5 of the Land Development Regulations at the time of site plan approval, "the
applicant shall have one (1) year to secure a building permit from the Development Department". Examples
of building permits include but are not limited to the following: Plumbing, electrical, mechanical, foundation,
and structural. The Regulations authorize the City Commission to approve one (1) year time extensions,
provided that the applicant files the request prior to the expiration date of the development order. In this
case, the applicant has met that requirement. The Planning & Zoning Division received the extension request
February 15, 2007 the expiration date of the previous one (1) year site plan extension.
A more formal criterion for evaluating requests for time extensions is compliance with concurrency
requirements. This project's traffic study was sent to Palm Beach County Traffic Division for their review and
approval at the time of original site plan review and approval. The Traffic Division determined that the
Page 3
Memorandum No. PZ 07-019
proposed mixed-use project is located within the designated Boynton Beach Traffic Concurrency Exception
Area (TCEA), and therefore meets the Traffic Performance Standards (TPS) of Palm Beach County. However,
the original site plan approval indicates that no building permits are to be issued by the city after the build-
out date of 2006. Therefore, the applicant will need to approach Palm beach County once again to extend
the build-out date as set in the original site plan approval (See "Exhibit C - Conditions of Approval)
The site plan time extension would still be subject to the original conditions of the site plan approval. Lastly,
no new land development regulations are now in place against which the project should be reviewed and
modified. As for application of the Art in Public Places Ordinance, site plan approval occurred. prior to the
adoption of Ordinance 05-060
RECOMMENDATION
Staff recommends approval of this request for a one (1) year time extension of the new site plan (NWSP 04-
014) based upon the evidence of good faith submitted by the applicant to construct the project in a timely
manner. If this request for extension were approved, the expiration date of the application would be extended
to February 15, 2008, and all conditions from the original approvals must still be satisfactorily addressed during
the building permit process.
S:\Planning\SHARED\WP\PROJECTS\Seaview Park Club\SPTE 07\SPTE 06-011 Staff Report.doc
Exhibit "A" - Seaview Park Club
Location Map
.
280 140
I
o
280
560
840
N
1,120+
I F%et .. E
5
February 14, 2007
EXHIBIT B
Michael W. Rumpf
Director of Planning and Zoning
City of Boynton Beach
100 E. Boynton Beach Boulevard
Boynton Beach, FL 33425
Re: Seaview Park Club - Request for Extension of Site Plan Approval
IJ!
,ii FEB 152007
-~
\
L-
Pl p,HI'.;Jt\!G .~;;'~D
zorm~c Dr:Pl
Dear Mike,
As you are aware, site plan approval for the above project was granted by the City
Commission on February 15, 2005, and an extension to the site plan was granted on
March 21, 2006. Lennar Homes, LLC. has been diligently working on the land
development and construction of this community. Despite our best efforts, however, it
appears that we will not have secured a foundation 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 the building permit application process.
In support of this request for extension of site plan approval, we would ask that you
consider the following accomplishments, since the last extension was granted which we
feel demonstrates our firm commitment to the successful development of the Sea view
Park Club Community:
· Demolition Permit received April 14, 2006.
· Demolition and Clearing has been completed of the old mobile home park.
· Land Development Permit received July 17, 2006.
· Fill Permit received August 14, 2006
· Water and Sewer Permit received July 13, 2006.
· Paving and Drainage Permit received August 17, 2006.
· Water, Sewer and Drainage construction has been completed and is currently in
the testing and final approval stages with Boynton Beach Utilities and
Engineering.
· Site has been filled and graded to proposed elevations.
· Dry utility installation for FPL, Bell South and Comcast has begun.
· Privacy Wall near South property line installed.
· Bulk head Wall along Intracoastal installed.
· Retaining Wall along North property line under construction.
· Road construction scheduled to begin 2.26.07
· Minor modification of site plan to include docks approved July 24, 2006.
We respectfully request for this extension of the site plan approval be submitted for
inclusion in the next CRA agenda and the subsequent City Commission agenda. Lennar
Homes, LLC. will of course mail required notices to neighboring property owners and
8136 Okeechobee Blvd, Suite A. Palm Beach, FL 33415. Phone: 561-333-4700. Fax: 561-228-5289
LENNAR.COM
it
post required signage in advance of the above meetings. Should you require any
additional information please do not hesitate to contact me directly at (561) 228.5316.
Your response to this matter would be greatly appreciated. Thank you once again for
your continued support.
Respectfully yours,
8136 Okeechobee Blvd. Suite A, Palm Beach, FL 33415 . Phone: 561-333-4700 . Fax: 561-228-5289
LENNAR.CDM
III
EXHIBIT "e"
Conditions of Approval
Project name: Seaview Park Club
File number: SPTE 07-003
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
Comments: None
FORESTER/ENVIRONMENT ALIST
Comments: None
PLANNING AND ZONING
.
Comments:
I, The time extension is subject to the original Conditions of Approval.
Seaview Park Club SPTE 07-003
Conditions of Approval
Page 2
DEPARTMENTS INCLUDE REJECT
2. Prior to issuance of a building permit, the applicant shall submit an updated
traffic concurrency letter from Palm Beach County.
ADDITIONAL COMMUNITY REDEVELOPMENT AGENCY BOARD
CONDITIONS
Comments:
To be determined
ADDITIONAL CITY COMMISSION CONDITIONS
Comments:
To be determined.
S:IPlanningISHARED\WPIPROJECTSISeaView Park ClublSPTE 071COA.doc
DEVELOPMENT ORDER OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA
PROJECT NAME: Seaview Park Club
APPLICANT'S AGENT: Ms. Lorie Moccia - Lennar Homes
APPLICANT'S ADDRESS: 8136 Okeechobee Blvd. Suite A Palm Beach, FL 33415
DATE OF HEARING RATIFICATION BEFORE CITY COMMISSION: April 3, 2007
TYPE OF RELIEF SOUGHT: Request site plan extension approval for one year, to construct 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.
X 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\SHAREDlWP\PROJECTS\Seaview Park Club\SPTE 07\Seaview Park Club DO.doc
MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY MEmNG
HELD IN CITY COMMISSION CHAMBERS, BOYNTON BEACH, FLORIDA
ON TUESDAY, FEBRUARY 6, 2007, AT 6:30 P.M.
Present:
Henderson TIllman, Chair
Stormet Norem, Vice Chair
Rev. Lance Chaney
Marie Horenburger
Steve Myott
Guam Sims
Lisa Bright, Executive Director
Ken Spillias, CRA Board Counsel
Absent:
Jeanne Heavilin
1. Call to Order - Chairman Henderson nllman
Chair TIllman called the meeting to order at 6:32 p.m.
II. Pledge to the Flag and Invocation
The board recited the Pledge of Allegiance to the Flag, followed by the invocation led by
Reverend Chaney.
III. Roll Call
The Recording Secretary called the roll and determined a quorum was present. It was noted
Mayor Taylor and Amy Dukes, Attorney with Lewis, Longman and Walker, were present.
IV. Agenda Approval
A. Additions, Deletions, Corrections to the Agenda
B. Adoption of Agenda
Ms. Horenburger moved to approve the agenda. Vice Chair Norem requested clarification that
the board would be approving the agenda, which included the Consent Agenda and items could
be removed from the consent agenda at this time. This was confirmed as correct. Vice Chair
Norem pulled Consent Agenda Item VIII E.
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Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Lisa Bright, Executive Director, announced Javier Camacho, from the Youth Gang
Resource Center was present. Mr. Camacho had traveled from the Miami-Dade area to
address the board about gang activity. She requested item, Item X A. be moved up on
the agenda, in order to allow Mr. Comacho time to return to Miami-Dade area at a
reasonable hour.
Motion
Ms. Horenburger moved approval of the agenda with the removal of Consent Agenda
Item VIII E. being moved to the regular agenda and comments by Mr. Camacho moved
on the agenda to immediately after adoption of the agenda, as Item C. Reverend
Chaney seconded the motion that unanimously passed.
X. New Business: - Heard out of order
A. Evaluate Alternatives to Support the City's Strategic Initiatives Against
Gang Violence.
Ms. Bright explained at the last CRA meeting, the board was interested in supporting the
City's efforts to deal with gang violence. Mr. Javier Camacho was present to provide a
brief overview of the issue. Mr. Camacho was from Dade County and serves on the
Fourth Annual Summit for Anti-Gang Violence.
Mr. Camacho thanked the board and explained he was the Program Coordinator for the
Youth Gang Resource Center, which was a program funded through the Alliance for
Human Services in Miami-Dade County, the Miami-Dade Criminal Justice Council, and
Miami-Dade County. His job is to disseminate information on gangs County-wide
One program was the Youth Gang Resource Center, which provides parents with
information to spot gang symptoms and in which he provided those outreach services.
He advised he often speaks to community-based organizations that have parenting and
life skill sessions to parents. GREAT (Gang Resistance Education and Training) provides
training to Police Officers to go into the school system and discuss the issues with the
students and staff.
Another program funded was a hotline operated by the switchboard of Miami. This was
an anonymous telephone number used to obtain information on gangs and resources
available in the community.
The third program, GUESS, was a therapeutic service that provides therapy to anyone
gang involved or gang associated to assist them to leave the gang lifestyle.
The fourth program was the Gang Summit. Mr. Comacho explained it was scheduled for
April 13th and April 16th at the North Miami Beach City Hall. In prior years, up to 400
individuals attended the summit and this year, projected up to 500 individuals would
attend this year. The summit would allow for two break-out sessions. Topics that would
be discussed were intervention and prevention, and law enforcement and the federal
view on gangs.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6,2007
Mr. Comacho explained there was no cost to attend the summit and the registration
form was being drafted. Ms. Horenburger suggested partnering with the tri-county
region. She announced the federal government declared the area as a tri-county area,
and she thought working together might yield a greater level of success.
Mr. Camacho also announced another summit was being sponsored by the Homestead
Police Department at Signature Gardens. law enforcement personnel, police
departments, community-based organizations, youth and parents and anyone else
desiring to address the issue and become more informed on the topic could attend.
Mr. Camacho explained the Palm Beach County Criminal Justice Commission was not
directly involved with the Miami-Dade organization, but he thought it would be great to
collaborate in this area. Ms. Horenburger explained, former Congressman, Harry
JOhnston, is the inCOming chair for the Palm Beach County CMminal Justice Commission,
which is engaged in five cities, including Boynton Beach. They have a gang program and
Youth Violent Crime Prevention Program, which was being monitored through Florida
State University.
Ms. Bright announced they received a $300K unrestricted grant that would allow for
program flexibility. She advised the City Manager met with neighboring cities and they
were trying to harness some of the different programs.
Mayor Taylor explained, he, the City Manager and the Police Chief attended a
conference with the surrounding communities and compared the different programs and
identified which worked the best. The $300K grant would be used for those types of
programs, which could help prevent children from joining gangs.
Mayor Taylor also advised he was WOrking on a program Implemented in Los Angeles, EI
Paso and San Antonio, to go after gang members themselves. The program established
eXclUSionary zones and if known gang members showed up in the zones, they could be
arrested strictly for being there. This concept was tested in the courts and withstood
legal challenges. Mayor Taylor advised he intended to ask the City Commission to
review the initiative to see if they were interested in it. Examples of zones could be
parks, school areas, shopping centers and others. The same concept applied to sexual
predators.
Chair TIllman asked about the effectiveness of the awareness programs. Mr. Comacho
explained the more they were out in the community and promoting the programs in the
schools, the more phone calls they received about therapeutic services and the more
attendees they had at the summits.
Mr. Camacho explained they receiVed refenals from the Miami-Dade Juvenile Services
Deparbnent, and the office of Juvenile Justice Delinquency. He announced the daily
programs that were in place were a tremendous success.
Prevention programs, such as Project IMPACT and Panzou, were specific to the location
of the gangs. The Panzou Program catered to the Haitian community. He dartfled gang
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
problems can be specific to areas. Through these programs, parents or community
organizations could also receive training by attending life skills or parenting sessions. On
the job training is also provided in some of the programs.
Chair TIllman reported at least four cities have been involved in meetings on the issue,
which were Delray Beach, Lake Worth, Lantana and Boynton Beach. He expected to
hear what direction they wanted to go in the sub-district part of the county and thought
the collaboration would enhance the success. He thanked Mr. Comancho, the CRA staff
and Miami-Dade County for putting forth the information. He requested staff keep the
board apprised of information from the City Manager's office.
V. Public Comments:
Herb Suss asked whether there was a meeting held this morning with the City Manager
and Intown Development.
Ms. Bright responded there was no meeting with the City Manager.
Mr. Suss indicated that between Intown and the other developer, they had reported
they had $60M of New Market Tax Credits nationwide. He indicated $40M was in the
hopper and $20M was left nationwide. He thought the CRA should take this under
advisement before entering any situation with Intown.
Mr. Suss asked whether Intown had issued a financial statement. Chair TIllman
responded that information would be addressed later in the meeting.
Mr. Suss spoke about the gang violence issue. He asked whether the CRA could get
more money and suggested the old Civilian Conservation Corps (CCC) program as an
alternative. He explained the CCC program, during the 1930s took people and put them
to work. He thought some of those programs could be tied to gangs if they could reach
out and give them some type of training. He advised there were federal programs for
this. He thought gang violence was a national epidemic.
Kevin Ballard, 550 NW 13th Avenue, spoke about the gang violence issue. He
indicated he did not see gangs in the area where he lived. If the Oty instituted zones,
he was concerned about the definition of the term gang member. He asked if he was
talking on the corner, whether he would be designated a gang member.
Chair TIllman explained people would be taught exactly what the Issue was before they
instituted anything. He did not want the effort to backfire and further indicated the
more educated people were, the more likely it would diminish gang movement. The
board noted gangs were a national problem. They noted they moved around and
thought it would behoove the City to partner with surrounding areas and have a unified
effort.
VI. Public Hearing:
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Old Business: None
New Business:
A.
PROJECT:
Proportionate Fair-share Mitigation Program (CDRV
07-001)
City-initiated as per 163.3180(16), Florida Statutes
Amendment of Land Development Regulations,
Chapter 1.5, Article VI. Concurrency Requirements,
to comply with new growth management legislation
directing local governments to adopt a methodology
for assessing proportionate fair-share contributions
from developers to meet traffic concurrency
requirements for local roads.
AGENT:
DESCRIPTION:
Hanna Matras, Planner for the City, presented the item. She advised the board the
State was requiring all local governments in Florida have a program for traffic
concurrency. They missed the December 1, 2006 deadline because the Department of
Community Affairs (DCA) was not clear whether the City would fall under the purview of
the County, who was in charge of traffic concurrency programs. This item would add
Article 8 to Chapter 1.5 and amended Concurrency Requirements, Chapter 6.
The program provided a methodology for developers, when they added road capacity over
the adopted Level of Service (LOS) to pay its share towards improvements of the
impacted facilities. Ms. Matras clarified this only applied to local roads, not roads that fell
under county and state jurisdictions. The City needed to review concurrency. It was also
clarified the program would exclude Traffic Concurrency Exception Areas.
Motion
Ms. Horenburger moved to approve the request. Vice Chair Norem seconded the motion
that unanimously passed.
VII. Pulled Consent Agenda Items.
VIII E. Boynton Beach Heritage Celebration Invitation
Kathy Biscutti, Special Events Manager, praised the CRA staff for their dedication and
advised she started with the CRA as an Event Consultant. She reported she made a
commitment to create memorable events, which would drive attendance downtown and
encourage relationship with developers that would be a base of sponsorship in years to
come. Her experience with the City was lacking.
Ms. Bright reported there had been emails circulated regarding funding and funding for
an additional event. She reported the CRA had worked for nearly a year on an InterJocal
Agreement with the City and had agreed to coordinate with the City on special events.
These special events were the Pirates of the Intracoastal, the Holiday Extravaganza (the
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
parade and the concert), the Medieval Faire and the Heritage Celebration. Ms. Biscutti
was a shared resource between the City and CRA for these events.
Ms. Bright explained at the last minute, an event was proposed by the community for
Heritage Fest. The City Manager was approached for funding, and he approached Ms.
Bright.
Ms. Bright explained she was made aware of the event on January 9, 2007. The event
was originally conveyed to have a cost of $3K. The cost, however, was then clarified to
be $20K, which was not under Ms. Bright's authority. The celebration was supposed to
be a joint City/CRA event as outlined in the Interlocal Agreement. Since the request
came between meetings, Ms. Bright asked the Chair to intervene on behalf of the board.
The neighborhood community request was an unexpected event.
Mr. Myott noted the event sounded like a great idea but thought the issue was whether
the CRA could afford it.
Chair TIllman explained he met with the City Manager. City Staff was working on the
event for a year and when the CRA became involved, they got involved in funding and
personnel. He explained last year there was a major issue when n event was sponsored
and it rained. They made sure they would have signature and better events this year,
which occurred. He explained recently, an event was added that did not involve a cost,
and then a cost was attached to it. He indicated the CRA does not conduct business
that way
The board discussed advertising the event and noted the marketing of the event was
entirely different this year than in prior years. It appeared the Interlocal Agreement had
been fragmented significantly. Mr. Sims asked if the partnership had improved. Ms.
Biscutti reported it was totally frustrating, at best.
Ms. Bright explained the Interlocal Agreement was a partnership arrangement and the
City and CRA staff were to handle the issue. Ms. Bright explained the City Commission
was looking for a return on investment to bring the people to the downtown area. Ms.
Bright also indicated she met with a developer who indicated as part of his project
criteria he would include a $lM budget specifically to bring people to the downtown area
strictly for the events on ongoing basis.
Ms. Bright explained Ms. Biscutti has had to work through a framework where all the
entities had budgets. She noted the event was a large multi-cultural event and the CRA
was supporting it. But, the request was a last minute addition from the neighborhood.
She indicated last year they were approached at the last minute to contribute $25K,
which they did, but the result was the CRA had to cancel events. The two events in
question were the Super Weekend Welcome Reception on Friday night and the Gospel
Concert on Sunday night. Mr. Myott noted the reception invitation already went out and
then proposed splitting the cost with the City and doing better next year. Vice Chair
Norem seconded Mr. Myott's comments.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Ms. Bright thought there were two issues at hand. One was to get though the event.
The other issue was to look at the Interlocal Agreement and how the process worked.
Ms. Horenburger thought the issue was not planned, and each entity was operating on a
different page.
Robert Reardon, Assistant Director, advised there were funds in the Contingency
Account, but he did not think the expenditure would be approved by the auditors. He
advised he had no idea, specifically, on what the funds would be used for and he did not
know if the issue was bid out. He suggested, after this event, the CRA consider
abandoning the Interlocal Agreement. He reported the issue has become a nightmare
for Bill Mummert and himself and he has no purchase orders for anything. Bills for the
Pirates of the Intracoastal were still coming in four months after the event. He
explained the City staff has been putting on the events for years and Ms. Biscutti has
been cut out of the loop. He would rather see the CRA just give the money to the City
and the CRA bow out of it. He explained when the budget was adopted, $50K was
committed for Heritage Fest. He explained the request was not just for the additional
$23K, it was actually $55K and with all the events combined, the entire budget was now
$170K. The CRA would be paying $100K and they do not have it. Mr. Reardon
suggested holding one event in the future.
Mr. Reardon emphasized he was real nervous about how the extra costs have come
about, and how they could be justified to the auditors. He indicated he was not sure if
he could issue a check to the Finance Department. He explained a special account has
not been set up in the City for the City and the CRA to fund and for Ms. Biscutti to
control.
Ms. Biscutti explained she had no information on the event. She reported she had been
asking for the names of the speakers and the name of the gospel group for more than a
month, and did not receive it. Reverend Chaney thought $l71K seemed extravagant.
and paying Kool and The Gang $65K was outrageous. He wanted to know who
negotiated the price. He explained the group has not had a hit in 15 years. Ms.
Horenburger explained other requests came in and additional events were added on top
of that. It was also noted the event in question was a duplicate event.
Vice Chair Norem removed his second.
Margie Adelsperger, Marketing and Communications Director, discussed the Interlocal
Agreement and reported it diluted the CRA's message. She explained it was a challenge,
working with different City departments on developing different logos, tag lines, flyers,
posters and street signs because they do not have cohesive agreement on how it should
be done. It has been done on a compromise basis. She advised that was her biggest
concern.
Chair TIllman indicated many of the issues need to be addressed on a higher level, and
announced the CRA is not able to move forward with the request for funds. He thought
after the event was over, the amount of monies expended might even be higher. He
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
reported although the agreement started in earnest, this happened last year and a
pattern was established. Ms. Bright indicated Ms. Biscutti indicated the CRA would
diligently work with the City for 2008.
VIII. Consent Agenda;
A. Approval of the Minutes - CRA Board Meeting - January 9, 2006
B. Approval of the Financials - January 31, 2006
C. BUdget Amendment - 2006-2007 #01
D. Resolution No. 06-04 - Set Reimbursement to Waypointe Marine, Inc
E. Boynton Beach Heritage Celebration Invitation
IX. Old Business:
A. MLK Corridor Update
Ms. Bright explained there have been meetings on the MLK Corridor, which included
Torti Gallas of Torti Gallas and Partners, and the firm of McCormack Baron Salazar. Ms.
Bright explained when the City came to the table, all the partners were present. She
announced Mr. Baron acknowledged he had considered some of the staff concerns that
the market had shifted significantly and it may be difficult to sell market rate units on
MLK regardless of the financing.
Ms. Bright reported Attorney Spil/ias forwarded a development agreement to Intown for
review. She advised they were working towards bringing an agreement back to the
board on March 13, 2007.
Attorney Spillias summarized the board's prior directive, that he review contracts and
other documents to demonstrate the level of land control Intown had to date. He
advised he had reviewed those documents immediately prior to the meeting. He could
ascertain in the MLK Corridor there were a number of contracts. He advised some of
the contracts date to 2005, and one from 2004, that included addendums extending
closing dates. The most recent addendum extended to the execution of a tripartite
agreement and he pOinted out some documents were not formal letters of intent. They
were property owners indicating they wanted to sell to Intown. He also commented
some of the contracts were not complete, or needed to be signed.
Attorney Spillias reported his calculations of the properties that were under control or
contract with Intown, or there was a letter of intent, or were represented as being in
heavy negotiation with, amounted to about 6.6 acres of the area, which equated to
slightly over 25% of the project area.
8
Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Of those properties that were under contract with the closing date addenda, those
calculations equated to approximately 14%. Properties under contract, plus the letter of
intent, calculated to be between 16% and 17%. Attorney Spillias advised that on
February 1, 2007, the parties agreed there would be a schedule of tasks to be
completed. The initial task was to review the contracts. The second task was to convey
the information about the results. The third issue was to provide a status on the
development agreement. Attorney SpiJ/ias announced comments were received ~ack
and incorporated into the next version of the draft. He suggested, if the board wanted
to move forward with the agreement to have it ready for the March 13, 2007 meeting.
There were key dates, which needed to be met, and he suggested holding a workshop
on February 15, 2007. The purpose of the workshop was to present the draft
agreement as it existed at that point in time. There would be blanks that needed to be
filled in by the CRA and the developer. There would be provisions that he would need
policy guidance on. Attorney Spil/ias advised after the workshop, those comments
would be incorporated into the development agreement. He also explained it was
hoped they would have received comments from the developers before the workshop.
The CRA would like a new draft from the developers by February 26, 2007, with the
agreement returned by the developer and received by the CRA no later than March 5,
2007, with a final product by March 13th.
The board discussed items the CRA asked for at the last meeting. Attorney SpiJ/ias
explained they received the contracts. He indicated with regard to the joint venture
agreements, or partnership agreements with the partners, which were McCormack
Baron, Torti Gallas, and Intown, they had not received those. Attorney Spillias explained
he made it clear that he would recommend the CRA not enter into any agreement that
was not an agreement with an entity or entities that puts all three of those entities on
the line. Mr. Baron had indicated to him that prior to presenting the agreement to the
board for approval, they would have their partnership agreements in place. For the
immediate moment, however, the agreements were oral and not written.
Ms. Horenburger asked if it was possible to enter into an agreement, contingent upon
receiving the written agreements being put in place within a certain, short amount of
time, and if not, then the agreement would be null and void. Attorney Spil/ias
responded the board could proceed that way, but his counsel would be to have them in
place prior to executing the agreement.
Ms. Bright commented since staff had not met with McCormack Baron or Torti Gallas,
with the exception of the initial presentation, it was apparent to staff that they had not
conducted due diligence in the community. They were not aware of zoning or other
factors. They were not knowledgeable about Boynton Beach, and the restrictions they
had in place.
Samantha Simons, Intown Development, explained her group knew they needed a
comprehensive plan since they started the project over three years ago. She reported
Torti Gallas knows they need to file it by August 15th and with the increase in workforce
housing needs, the density needs to be changed. She reported the project was making
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
progress, they were working through some of the negotiations and they would have a
Joint Development Agreement in place prior to contracts being signed.
Ms. Simons clarified in reference to the New Market Tax Credits, Mr. Baron has
Proportioned those credits aside for the project, which help buy down retail
Opportunities in the project area. She explained the allocation of New Market Tax
Credits was $60M, and that was discussed in the RFP. The figure, she advised, had. not
changed.
Ms. Horenburger asked what densities were being discussed in the meeting. Ms. Simons
explained what was presented in response to the RFP was 10.8 dwelling units per acre.
Nancy Byrne, Assistant Development Director, explained they met with Torti Gallas,
about the Heart of Boynton Plan. If the issue of density comes up, that would be the
only point they would make in the development agreement now. She explained, the
plan would need to be presented to the community first, and then the appropriate land
changes would take place once it has been formally adopted by the CRA.
Ms. Horenburger asked if changes in density were minimal, if the project was still
feasible to the partners. Ms. Simons responded they needed to look at all aspects of
how they would plan and adopt a plan that worked for everyone to make it a win-win
for all parties. She explained she thought they were close and suggested crossing that
bridge when they got to it.
Ms. Horenburger asked what percentage or portion of the tax credits were committed to
the project. Ms. Simons explained the Tax Credits were an annual allocation. The next
round may have additional tax credits. She could not speak on Mr. Baron's behalf, but
she felt he would set aside a proportionate amount.
Ms. Bright noted at the last City Commission meeting, she was asked why the CRA was
not supporting the 175,000 square feet of commercial space for Seacrest Village. She
clarified the retail analysis the CRA had conducted with Howard Kohn, and Metropolitan
Planning Council pointed out 3,000 homes were a minimum to support that amount of
retail. The Metropolitan Study, by Florida International University, showed the housing
needs assessment pOinted out the average income was $26,000 and retail would not
change the economic dynamics in the area. She wanted the board to note the City
Commission had a concern about that, and that decisions were being based on those
studies. She announced the CRA did not think, based on the Congress Avenue and
Woolbright corridors that neighborhood retail was the appropriate venue for that area.
Mr. Sims asked why the three pieces of information they had requested were not
received.
Ms. Simons expressed it was her and the partners' understanding, they were SUPPOsed
to have the contracts submitted and then have 60 days to provide the other information.
At the meetings with the City and CRA, they discussed having those items with the
agreement. She thought the cart was being put before the horse. They would be more
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
than happy to present the joint development agreements before the execution of the
contracts.
Mr. Sims read a portion of correspondence from the CRA attorney that indicated Intown
was seeking to submit the document to a neutral third party. He pointed out if the
letter was referencing the City, the City was not a neutral party. He wanted to know
specifically, who was the third party. Ms. Simons explained Mr. Baron was perturbed
that properties were being negotiated by the CRA before a tripartite agreement was
executed, and a joint conclusion reached. If the CRA was seeking appraisals, there
should be coordination and communications about said properties to avoid a bidding
war. Ms. Simons indicated they were trying to find a neutral party, but the issue was
not moot and they shared the contracts with Attorney Spillias anyway. She reported
with the City and CRA property, Intown advised a total of 43% of the project area was
secured.
Attorney Spillias explained at the February 1, 2007 meeting, there was a concern the
CRA was still negotiating for properties. A process for purchasing property in the MLK
Corridor had been put into the draft agreement. The process was the developer would
make every effort to purchase property, and only if there was difficulty purchasing a
property, they would advise the CRA and the City, and identify the property. They
would also provide any offers made and appraisals and then they would go forward.
The issue was raised because Ms. Bright had ordered an appraisal on one of the
properties in the MLK corridor. Ms. Bright explained at that time, she made it
very clear to all at the table, that no negotiation or conversation had been held. The
only thing that occurred was an appraisal was ordered and has not been received.
Ms. Bright explained the previous attorney for Intown, Lee Worsham, was present at the
meeting. The CRA felt they had missed the opportunity on the Jefferson Estate because
they were not prepared. At the December 12th meeting, she explained it was made
clear to her that if there were missed opportunities, and if funding were available,
ultimately Intown would be the beneficiary of whatever land was purchased. The
statement given to Ms. Bright, by Mr. Arthur D'Almeida, the Estate Attorney for Bob
Katz, was that he was unsuccessful with striking a deal with Intown Partners on the two
parcels on MLK, and would they be able to negotiate. Ms. Bright advised she would be
happy to get an appraisal and would follow up with him. She ordered the appraisal on
January 19, 2007 and it has not been received. She informed Intown she was ordering
the appraisal, and that she was directed by the board to order an appraisal for the
Delray/Boynton Academy.
Ms. Bright referenced a letter from the first meeting on September 20, 2007 with Intown
Partners. She explained those issues were items they were dealing with for a
comprehensive strategy back then. The CRA was Intowns partner. She explained they
were trying to follow a Protocol that changed daily and they do not buy land there.
Attorney Spillias pOinted out, the parties recognize that if they are all out in the area,
doing their own negotiations, it gives purchasers the opportunity to play one off the
other. They do not want prices increased for Intown or the CRA. He commented he
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
was disturbed at the letter as well. It appeared the issue keeps coming back there is a
fear the CRA is negotiating deals and it was governing the conduct. Attorney Spillias
received the letter by email earlier in the day but was allowed to review the contract
prior to the meeting.
Mr. Myott left the meeting at 8:15 p.m.
Reverend Chaney was concerned about the ownership of the property. The total
property between Intown, the CRA and the City was approximately 43%.
Vice Chair Norem was disturbed by the letter. He expressed his thoughts there would
not be an agreement ready next month and thought changing attorneys and delays
were a pattern. He was ready to change and indicated if there was no draft, how could
the board vote on it.
Chair TIllman indicated the situation did not look good as a growing City. Over the past
eight months, over $50K was spent on legal fees. He indicated the CRA needs to do
business in a viable pUblic way and they are entrusted to do so under State Statute. He
asked for a motion to end this.
Ms. Horenburger spoke about her comments in prior minutes about contractual
agreements, which explained there would be a development agreement by March 13,
2007. Her feelings were there was a pattern to make public statements and not give
clear answers to very specific questions. She clarified the vote was to have a March 13,
2007 deadline. She acknowledged the relationship deteriorated significantly and she did
not know why. She was not sure this was the time to end the matter.
Mr. Sims was disturbed with the letter, particularly after so much momentum was
gained with the tripartite agreement. He asked the board to maintain its integrity and
its work and honor the March 13, 2007 deadline. He expressed he was doubtful the
agreement would be reached by then. He thought the CRA was being incredibly patient.
Vice Chair Norem pOinted out there were certain items that had not been delivered.
He was unsure of when to draw the line.
Reverend Chaney concurred it was unfair to board counsel to receive documents at the
last minute and thought it created an adversa"a! role. He agreed with Mr. Sims, that
Attorney Spillias needed to adequately review the documents and then properly advise
the board. He has received partial reports and if requested information could not be
received by the agreed on date, the CRA should be properly apprised as Opposed to
learning about it at the last minute. He expressed frustration they had asked direct
questions and had not received direct answers. He expressed the CRA wanted the
project to proceed with fairness and integrity, but the CRA was not getting the straight
answers it needed.
There Was consensus from the board to wait untii the March 13, 2007 meeting to
discuss the issue.
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Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Attorney Spilllas indicated they would hold a workshop on February 15, 2007 to review
the work Product In terms of pOlicy decisions and In anticipation of a final contract. This
would give him the Information he needed to properly review the draft. He also
IndIcated he brought Tara Duhy, a contemporary trom Lewis longman and Walker, P.A.
into the arena so there would always be two knowledgeable individuals available to
advise the board in the event he was unavailable.
Motion
Ms. Horenburger moved to hold a workshop on February 15, 2007 at 6:30 p.m. Vice
Chair Norem seconded the motion that unanimously passed.
Herb Suss requested to speak. Chair TIllman explained there was no public comment on
the item.
B. Dive Shop lease Update
Ms. Bright reviewed the item. Staff wanted to terminate the lease on December 31st in
order to renovate the restroom at the marina. The goal was to Create an Interlm lease
until the construction plans and other issues would be finalized.
Ms. Bright explained a long-term lease keeps coming back from Ms. Simmons counsei
detailing long-term issues that the eRA was not prepared to address at this juncture.
Ms. Simmons was currentiy paying $1.36 per square foot for their space, versus about
$17 per square foot. The comm~ment was to build the public restrooms and the eRA
spent $7,000 bying to negotiate a lease. Ms. Simmons was present to diSCUss the issue
with the board. Ms. Bright clarified Ms. Simmons needed to have a lease In place in
order for her to be able to operate as a dive shop.
Lynn Simmons, 700 Casa loma Boulevard, announced she was the OWner of the dive
shop. She reported she was unsure how they wound up in an adversarial position and
thought the lease was progressing well. She agreed attorney fees were becoming
unreasonable and announced she had agreed to a one-page lease, which has evolVed
into a 10 page lease. She agreed to paying rent.
Ms. Simmons advised she had a problem with two issues. She reported the business
had become, because of the location and surrounding activities at the sile, more than a
dive Shop. Over the last three years, she Provided the public access to restrooms, she
accepts and delivers deliveries and she is open all year from 7:00 a.m. to 7:00 p.m. She
reported until the public restrooms are complete, there were no facilities for charter
boats and others to use. She apprecIated the board bying to work With her and she
expressed her desire to work With the board. She further announced she has been at
the marina for 24 years, and the business has grown from a miniscule business to the
biggest dive operator in the City. She was not sure what to do about the lawyers.
Mr. SIms discussed two items. One was insurance. Ms. Simmons diSCUSSed Item 24 of
the lease, which Indicates she has a $2M liability insurance policy, but the lease is
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
requfring her to pay property insurance of $5001<. She does not OWn the property, and
her insurance agency indicated the property OWner should be paying the property
insurance.
Amy Dukes, attorney for the CRA explained that was not correct and she would need
to revfew it. She thought the Item COuld be removed. Ms. Dukes, also Indicated the 10
page fease was PropOsed by Ms. Simmons attorney, not the CRA. Ms. Dukes darified
the CRA was interested in offering an interim fease, not a long term lease because they
did not know what the facility would look like until they got in there and commenced
renovations.
The second Item had to do with the Prohibition of sale of food. Ms. Simmons
announced she had no objection to the addition of this item in the second lease, but not
for the first. Ms. Simmons had been providing the Marina Village construction crew with
food and beverages.
Ms. Bright explained the food being sold in open containers was against CRA policy. She
commented she Spoke with the boat owners and they Preferred she offer pre-packaged
food and soda outside In a vending machine. Ms. Simmons had no objections to the
request. She reported fOOd in open containers had been eliminated.
Attorney Spillias explained it appeared there was a disconnect between Ms. Simmons
and her attorney. He suggested haVing a meeting with a CRA representative, Ms.
Simmons and her counsel.
Ms. Horenburger asked about the size of the dfve shop and how the leasing rate Was
established. Mr. Reardon explained the rate was inherited from Two George's, but the
CRA owned the property. Mr. Reardon explained as a government entity, they do not
pay taxes on the property, but when the space is leased, taxes would be paid, but he
did not know how much the taxes would be. He explained he submitted a report to the
County on January 15, 2007 outlining what leases they had on the building and adviSed
next year they would be Subject to property tax.
Mr. Reardon asked Attorney Spillias if before any space was leased by the CRA, whether
they had to publish announcements in the newspaper, announcing the leasing of space
in order to allow another dive shop to opt to pay the regular retail price as OPposed to
the $1.36 per square foot interim amount. Mr. Reardon reported he read the
requirement fn the Florida Statutes and he was unsure if they could continue the matter
without doing so.
Attorney Spillias clarified the issue was in some respects, a continuation of the existing
lease which ended with Two George's. Attorney Spilllas darified when the CRA
Purchased it from Two George's they became TlNo George's successor. He did advise
they would need to publish for the long-term lease, but not for the Interim lease.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Mr. Reardon clarifted for the record, there was a men's and ladies' bathroom at Two
George's. Ms. Horenburger thought the temporary lease should reflect a cost and
assessment, and an in lieu of tax fee. She cia rifted the CRA did not know how much tax
would be owed and this year the taxes would be Increasing. She suggested obtaining
the information from the Property Appraisers office and that the Item be continued to
the nextmeetfng. She thought the calculations could be built Into the lease.
Ms. Bright indicated staff could prepare the market rate calculation and a tax rate
calculation. The lease was a hold over on a month-to-month basis. Ms. Bright explained
the interim lease was to COVer the time the CRA staff was going to evaluate, with their
construction contractor, how long the renovations would take. Ms. Simmons already
agreed to move to a temporary site, and at that time, a new lease would be negotiated.
The board suggested having the attorneys consult on the matter.
C. Review recommendations and responses to Transit Study RFP
Ms. Brooks, Planner read the Item and explained there is a Transit Concurrency
Exception Area, (TCEA) within the CRA, which allowed them to redevelop without having
to rUn into level of Service issues. Two major requirements of the TCEA With the
County's approval was the CRA would provide 5% affordable hOUsing of all new
development and conduct a transit study. The CRA staff did not think they needed the
study, but the County did not agree, so an RFP was Issued. She reported Hanna Matras,
Economic Planner for the City, who also Works with the County on traffic Issues,
received three proposals. Staff reviewed the proposals and recommended PBSJ be
selected based on their experience with transit studies.
Motion
Ms. Horenburger mOVed for approval. Vice Chair Norem seconded the motion that
unanimously passed.
D. Presentation by Northwood Renaissance for a Community land Trust
Ms. Brooks explained there was prior diSCUSSion about land trusts. She reported they
were developing Products to have more affordable units in the market. Examples of
those were down payment assistance and rehabilitation programs, and the Workforce
Housing Ordinance. She explained they addressed the moderate-income category but
not the lOW-income category. She explained With a Comprehensive Housing Policy, they
needed a tool for the very-low and lOW-Income families. A Community land Trust was a
very good tool for that because It allOWed for individuals who could not otherwise own a
home from being Precluded from owning a home and receive the tax beneftts and equity
benefits that are established through a land trust.
Scott Kline, NorthwOOd Renaissance, explained their mission Was to put homes Within
reach of working families In Palm Beach County and to improve neighborhoods through
a holistic approach. The organization incorporated In 1992 and sought to proVide
business and job creation In the Northwood Business District. In I99B they expanded
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
their focus to address the affordable housing issues in the City of West Palm Beach. In
2005, their services expanded to encompass County-wide issues.
The organization received the Bank of America Neighborhood Builders Award. In 2005,
they were named as USK Community Development Champion and they were also
presented with the 1000 Friends of Florida Community Steward Award. They prided
themselves on their successful track record in obtaining competitive grants and loans.
They recently received $2.3M Federal Home Loan Bank's Edge Program for the Village
Center project. They also received $9M in housing tax credits from the Florida Housing
Finance Corporation to build 84 workforce rental apartments. In 2005 they received
Citibank's Partners in Progress Award.
The traditional solution was to provide public subsidies to an income-qualified buyer to
bridge the affordability gap. The gaps, he commented, were becoming cost prohibitive.
Not only were the subsidies not deep enough, but the homes were not being kept
affordable. The primary benefits of a community land trust was public subsidies would
be preserved and the trust would maintain the affordability of the home for future
generations. The concepts of the land trust were they are driven by a community based
non-profit entity, governed by a volunteer board representing the community's interest.
The long-term control of the land is placed in the hands of the local community and the
land trust ensures affordability, using a 99-year ground lease with the home buyer.
Mr. Kline explained depending on how the trust was set up, the community land trust
removed the cost of land from the equation and then reaches the buyers. Resale prices
are restricted but the homeowner would still realize a reasonable return. They would
only sell the home to income-qualified buyers and the trust had the first right of refusal
upon foreclosure of the homes.
Northwood has constructed and rehabbed 30 affordable housing homes and assisted a
family to become a first time homeowner. They offer an alternative to renting. The
largest segment of the workforce and low-income wage earners would never be able to
own their own home without substantial subsidies. There is a non-stable rental market.
The trusts provide stable living environments. He apprised the board over the last year,
Palm Beach County lost of 14,000 rental units to condo conversions and the remainder
of the rentals were higher end.
The trust leverages public dollars and added value. Mr. Klein reported last year, more
workers moved out of Palm Beach County than moved in the County and indicated the
trust would help sustain local economies. He advised over the next few years, more
than WOK affordable units would be needed and having affordable units helps to sustain
and attract businesses. They revitalize distressed neighborhoods, replaced ugly vacant
lots in blighted areas and constructed homes that compliment the neighborhood.
Ms. Brooks thought this would be a good tool to add to the other tools the board has
instituted in the last year. She reported they were one of the few CRA's conducting
these types of efforts and she commended the board for their foresight. She
recommended staff begin negotiations with Northwood Renaissance.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Ms. Bright explained this was a property management tool. It was suggested Ms. Bright
also contact the Delray Land Trust, but it was ascertained they did not have the level of
interest Northwood had.
Motion
Vice Chair Norem moved to begin negotiations with Northwood. Reverend Chaney
seconded the motion for discussion.
Reverend Chaney asked about land trusts and if other land trusts had expertise. Ms.
Brooks explained the Delray Land Trust was brand new, the County was forming one,
but it was not up and running yet. She explained there was much more to a land trust
than forming a corporation. She thought it behooved the board to work with entities
that were familiar with non-profit housing. She announced the Northwood Renaissance
staff had access to subsidies that large non-profit developers did not. Ms. Brooks
expressed this entity had the most experience in this area and further expressed
government entities do not have access to many subsidies.
Ms. Horenburger asked if they entered into an agreement if it would be for long term.
Ms. Brooks recommended making the agreement renewable based on performance and
also recommended a percentage of land they purchase be put into the trust. The land
needed to remain affordable.
Ms. Murray, Executive Director, explained they work collaboratively with all land trusts.
She assured the board, their mission was to preserve housing.
Ms. Horenbuger thought if they entered into an agreement, they should have the ability
to transfer the land from one trust to another if they wanted.
Vote
A vote was taken and the motion unanimously passed.
Attorney Spillias explained his firm represents the Northwood Renaissance CDC. Ms.
Bright indicated they could use other counsel. Attorney Spillias agreed and commented
as long as both lawyers had a waiver, all should be fine.
E. Approval of Mediation Settlement for Jesus House of Worship
Attorney Spillias indicated there was a mediation session and a settlement proposed. He
indicated the matter could be discussed openly, or if not, he suggested holding another
Executive Closed Session. He suggested if an Executive Session was held, to hold it on
February 15, 2007 before the workshop. At that time, he would explain the issues and if
all the questions were answered, the board could vote on it that night. There was no
deadline. Attorney Spillias preferred to hold a special meeting.
Attorney Spillias announced for the record he was looking for guidance with regard to
settlement and cost of litigation in Boynton Beach CRA vs. Jesus House of Worship, Case
No. S02005CA004252XXXMB in the 15th Judicial Circuit in and for Palm Beach County.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
The attorney client session would be at a special meeting at 6:00 p.m. on February 15th
in Chambers, to be attended by the board, The Executive Director, and Legal Counsel.
Motion
A motion was made by Ms. Horenburger to hold executive closed-door session. Vice
Chair Norem seconded the motion that unanimously passed.
X. New Business:
A. Evaluate Alternatives to Support the City's Strategic Initiatives Against
Gang Violence.
Ms. Horenburger indicated there was a task force in the Sheriff's Department and they
were short personnel. She did not know whether the City had a Police Officer on the
task force. She thought they should explore whether the shortfall in personnel was due,
in part to the City and if so, to consider funding an additional Police Officer to become
involved in the effort.
Reverend Chaney asked if two members of the board served on the board, whether a
Conflict of Interest existed. Ms. Bright explained as long as the meeting was noticed,
there were minutes taken and the members did not discuss the issue among themselves
outside of the meeting, there would be no conflict.
B. Consideration of a Match to the Palm Beach County Development Regions
Grant Program for Village Ice Cream in the Amount of $50,000
Ms. Brooks explained the CRA participates in the above program, which encouraged new
and existing businesses to expand. The program provides a grant of up to $50K from
the County and requires a match from the local municipality or the CRA. She announced
Village Ice Cream Cafe applied for the grant and recently purchased space at Marina
Village offering hand made ice cream and other confections. Ms. Brooks recommended
supporting the application and recommending it for funding. She noted the applicant
has closed on the property and the funds were budgeted.
Motion
Ms. Horenburger moved to approve the request. Mr. Sims seconded the motion that
unanimously passed.
C. Consideration to apply to the State for designation of the marina and
mangroves as Waterfront Florida Communities.
Ms. Brooks explained this was a State program designed to preserve and enhance
existing marinas and keep them as working marinas. Many marinas were being lost to
condominium construction and the State was attempting to preserve the traditional and
marine related jobs in the community. The measure was also an economic development
initiative. If the City received the designation, they would receive up to $50K to plan for
improvements to the marina.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Motion
Ms. Horenburger moved to approve the item. Vice Chair Norem seconded the motion
that unanimously passed.
D. Consideration of Entering into a Purchase Agreement with Thomas Walsh
for the 211 E. Ocean Avenue property
Ms. Bright explained over a year ago, Ocean Avenue was designated as the downtown
pedestrian core. The subject property was across from Kenny's Market Place, and CRA
staff negotiated a purchase agreement for $850K. The CRA would like to purchase the
property to activate redevelopment
Motion
Vice Chair Norem moved to approve the purchase agreement. Ms. Horenburger
seconded the motion that unanimously passed.
E. Consideration of additional staff.
Ms. Bright explained staff was overworked and needed two positions; one in the
administrative area and the other in property management. She informed the board the
positions were in the budget. She reported they were buying quite a bit of property and
they needed a person in Property Management. She explained no matter how bleak the
market, they were always looking for individuals to purchase land. The property
management position would be about $70K and the administrative position in the mid
$30K range.
Reverend Chaney requested an organizational chart, and a personnel plan indicating
what they have for the budget, what positions they had, what they were projecting and
future projected positions. Ms. Bright pointed out there were some vacancies that were
not filled that were absorbed by staff.
There was consensus to fill the vacancies. Attorney Spillias advised there was no vote
needed.
XI. Comments by Staff
XII. Comments by Executive Director
Ms. Brighter reported Arthur Slavin, 500 Ocean Plaza, indicated to Ms. Bright he has
documents due. He was supposed to submit documents in 90 days. Ms. Bright
announced they would bring something back next month.
Ms. Bright announced Palm Beach County Days were on March 6, 7 and 8th and she
would make arrangements for members wanting to attend. Those interested should let
her know.
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, FL
February 6, 2007
Ms. Bright thanked Mr. Reardon for his efforts and for the photos of the Heart of
Boynton (HOB) Beautification Day. The motto was Neighbor Helping Neighbor,
sponsored by the CRA and St. John Missionary Baptist Church.
Mr. Reardon gave a Powerpoint presentation about the HOB Beautification Day.
Reverend Chaney commented 150 volunteers showed up for the Beautification Day and
it was one of the best events he attended. .
Ms. Bright indicated she was working with Mr. Reardon to show the board what projects
were cancelled and the potential unrealized l1F funds. The information would be
brought to the next meeting.
XIII. Comments by CRA Board Attorney
None.
XIV. Comments by CRA Board
None.
XV. Adjournment
There being no further business to discuss, the meeting properly adjourned at 9:35 p.m.
Respectfully submitted,
~C1w~hIfYfl11
Catherine Ch rry-Guberman
Recording Secretary
020706
20
MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY
SPECIAL MEETING HELD IN THE BOYNTON BEACH WOMENS CLUB,
BOYNTON BEACH, FL ON THURSDAY, FEBRUARY 15, 2007 AT 6:00 P.M.
Present:
Henderson Tillman, Chair
Stomet Norem, Vice Chair
Rev. Lance Chaney
Jeanne Heavilin
Marie Horenburger
Steve Myott
Guarn Sims
Lisa Bright, CRA Executive Director
Ken Spillias, Board Attorney
I. Call to Order
Chair Tillman called the meeting to order at 6:20 P.M.
II. Roll Call
The Recording Secertary called the roll and determined a quorum was present.
III. Agenda Approval
a. Additions, Deletions, Corrections to the Agenda
There were no additions, deletions or corrections to the agenda.
b. Adoption of Agenda
Motion
Motion to adopt the agenda was unanimously approved 7-0.
IV. Approve Contract for the Treasure Coast Region Planning Council
Market Analysis and Development Program for the MLK Corridor -
2007
Ms. Horenburger asked what would happen if this report came back indicating
the project was not feasible. Ms. Bright responded that she could have signed a
cheaper contract that would have provided just the market study. Ultimately, the
CRA Board would be responsible for developing the MLK Corridor target area, so
she requested a feasibility study identifying what could be built there considering
current market analysis. Mr. Bressner, City Manager, had emailed inquiring about
the difference in the TIF projection with the current developer. Ms. Bright had
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Meeting Minutes
Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
explained to Mr. Bressner that the current study, only a feasibility study,
suggested a much lower unit rate. Therefore, the llF projection for Seacrest
Village is extremely high, which is the reason some of those units in that market
study are as low as $436k for market rate up to $487k. Realistically, if this board
moves forward, it needs to identify the type of product and development
program. She hoped the study would be done before the development
agreement comes back to allow for evaluation of suggestions and
recommendations made by the City's Commission. Ultimately, staff can be
redirected to move forward with some type of development program, even if this
developer does not work out. With the results of this study, the board will be
able to answer questions and know what to look for moving forward.
The Treasure Coast study was part of the analysis and the board had to
generally adhere to it. Unaware that the market was going to die, it was the
board's assumption that they could sell those units at $436k to $487k. The CRA
clearly knows differently now. It used the information it had then, when the high
end units were $285k. Ms. Bright indicated that even if the Treasure Coast
Regional Planning Council (TCRPC) Proposal for Market Study, Planning
Evaluation & Analysis, and RFP Assistance for "Heart of Boynton" Redevelopment
Project came back saying there is no way we can do a project of this size and
magnitude in today's market, the CRA would be secure. Typically, a lender
requires a developer to do its own market study. The CRA wanted some other
validating document before signing on the development agreement.
Motion
Mr. Myott moved to approve the Contract for the TCRPC Market Analysis and
Development Program for the MLK Corridor-2007. Ms. Horenburger seconded the
motion that unanimously passed.
v. Adjournment of Open Public Meeting
Before adjourning, Attorney Spillias read into the record that the attorney/client
meeting would be about the case of Boynton Beach Community Redevelopment
Agency v. Jesus House of Worship, Inc. Case No. 502005 CA 004252 ><XXX MB,
Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida. He asked that the open public meeting be adjourned and everyone in
attendance leave, other than board members and the Court Reporter.
Motion
Ms. Horenburger moved to adjourn the public meeting. Mr. Myott seconded the
motion that unanimously passed.
.,
The open public meeting was recessed at 6:25 p.m.
,
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Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
VI. Executive Attorney/Client Session
Discussion of settlement negotiations or strategy session related
to litigation expenditures in the case of Boynton Beach
Community Redevelopment Agency v. Jesus House of Worship,
Inc., Case No. 502005 CA 004252 XXXX MB, Circuit Court of ~he
Fifteenth Judicial Circuit in and for Palm Beach County, Florida
VII. Adjournment of Executive Attorney/Client Session
VIII. Call to Order of Open Public Meeting
The open publiC meeting was reconvened at 6:45 p.m.
IX. Consideration of Approval of Mediation Settlement Agreement in
Boynton Beach Community Redevelopment Agency v. Jesus
House of Worship
Attorney Spillias had an executed copy of the Mediation Settlement Agreement
by the Jesus House of Worship. He indicated it was the Board's determination to
approve the settlement agreement.
Motion
Mr. Myott moved to authorize and approve the executed Mediation Settlement
Agreement. Chair Tillman seconded the motion that unanimously passed.
Attorney Spillas advised he would send a copy to opposing counsel, dismiss the
lawsuit and set up a closing on the property.
X. Adjournment
Motion
Chair Tillman moved to adjourn the special meeting at 6:47 p.m. Mr. Sims
seconded the motion that unanimOUSly passed.
Respectfully submitted,
Robin Hemingway
Recording Secretary
02/16/07
3
MINUTES OF THE COMMUNITY REDEVELOP,.,ENT AGENCY
WORKSHOP MEETING HELD IN THE BOYNTON BEACH WOMENS CLUB,
BOYNTON BEACH, FL ON THURSDAY, FEBRUARY 15,2007 AT 6:30 P.M.
Present:
Henderson Tillman, Chair
Stomet Norem, Vice Chair
Rev. Lance Chaney
Jeanne Heavilin
Marie Horenburger
Steve Myott
Guarn Sims
Lisa Bright, CRA Executive Director
Ken Spillias, Board Attorney
I. Call to Order
Chair Tillman called the workshop meeting to order at 6:47 P.M.
II. Approval of the Agenda
Attorney Spills indicated that anything could be discussed at the workshop
keeping in mind that no actions would be taken.
III. Old Business
a. Consideration of Draft Master Development Agreement
with Intown Partners for Development of the Martin Luther
King Corridor
Mr. Myott wanted to explore what everyone's roll would be moving forward.
Attorney Spillas responded the City Commission had directed the City Attorney
and the City Manager to take the lead negotiating position in the tripartite
agreement. The negotiations would include the Executive Director of the CRA as
a resource, in addition to anybody she felt needed to be there for support,
including the attorney. The decision was not intended to exclude CRA counsel.
Mr. Spillias had received a short letter indicating the City Commission had made
the decision for Mr. Bressner, City Manager, and Mr. Cheroff, City Attorney, to be
the lead negotiators on the contract. The City Commission voiced the fewer
people involved the better in terms of efficiency and effectiveness. Therefore,
only Mr. Bressner would be present to represent the City at the negotiation
sessions and the CRA had been asked to limit participation personnel to Ms.
Bright and Attorney Spillias. Additionally, since the City Commissioners had
indicated POSSible interest in attending some of the negotiations, Mr. Cheroff and
Mr. Bressner had determined these meetings would be public with
Meeting Minutes
Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
minutes taken by the City Clerk's office. Moving forward, all negotiations would
be open to the public.
Chair Tillman indicated that when read back, the minutes and motions from the
City Commission meeting pretty much standardized what was in play. He
suggested that if the CRA Board needed to ratify its position or argue what, its
position is, that should be done at the next meeting, making it official.
Attorney Spillias opined that rarely is this type of negotiation done in public. He
and Ms. Bright had recently addressed this due to the misinformation that was
being distributed by the developer. Ms. Bright confirmed this was her
interpretation. She had previously complained about the continued
communications between Commissioners and the developer.
Ms. Horenburger had been approached by a reporter who said Commissioner
Weiland and Commissioner Rodriguez had taken the entire matter with every
possible detail of the MLK corridor redevelopment back to the City Commission.
She responded to the reporter that her understanding was the CRA had always
had a tripartite agreement since the August meeting. Now, the City Commission
had simply shifted negotiations on the agreement. The City Commission had not
taken over everything, only the responsibility for the negotiations.
Mr. Sims asked if the board, now utilized as a resource, had the authority to
disagree with this agreement. Attorney Spillias indicated that the board had the
authority to not approve based upon the follOwing reasons: One, this is an
autonomous board with its own legal identity. It is obligated to make its decision
in public meetings with pUblic discussion and within the context of its' fiduciary
obligations. Two, to the extent that the City Commission wanted any funding
from the CRA or property that the eRA owns, the board had total control of that
decision. The City could not direct or supersede the board. Absent that, they did
not have the power to make the board agree. Third, there could be provisions
the CRA did not like, and it had the right to not agree.
Mr. Sims wanted clarification on whether these "public meetings" take the place
of meetings previously understood to be "community meetings". Attorney
Spillias indicated that the community meetings were intended to provide
community input on the details of the project. These would be contract
negotiation meetings that the City Attorney and City Manager decided to now
open to the public. Ms. Horenburger clarified the agreement would establish the
partnership between the three parties, not all the details of the development.
Mr. Myott wanted to know .jf community forum meetings for feasibility and
analysis would work with the Treasure Coast Regional Planning Council Proposal
for Market Study, Planning Evaluation & Analysis, and RFP Assistance for "Heart
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Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
of Boynton " Redevelopment Project. Ms. Bright responded that Treasure Coast
is most likely going to simply update an existing study, probably the June, 2005
Seacrest study. These are not community meetings, rather development
scenarios with planners making recommendations. In her discussions with
Intown in September, she asked them for a community meeting for November.
Torti Gallis, of Torti Gallis and Partners, indicated she could not afford to fly. in
for that particular meeting. Then when the meeting occurred, Ms. Gallis acted
surprised. This community wanted to have a meeting every three months, which
was clarified to the partner and documented in Ms. Bright's notes. She indicated
that at one of the very first development meetings, the CRA had been given a
timeline, a copy of which would be provided for the meeting. Samantha Simons
with Intown Partners had only included one charrette, even though the
community was looking for a great deal of input. Those community residents
expected CRA meetings with proper public notice. Ms. Bright also had
correspondence from Gertrude Sullivan, a community resident, explaining she
was concerned that she missed one of those meetings at St. Paul AME. Those
meetings were not appropriately publicized and Ms. Bright advised Ms. Simons
we could not operate that way as partners.
Chair Tillman indicated that the meetings held in the church were Supposed to be
focus group meetings to be held in different places in the community. With the
board's process in place, he wondered if there was any current or long term
liability, since the board had someone waiting for an RFP. Attorney Spillias
responded that the board retains the right at all times to enter into an
agreement or not, and to reject proposals at any time.
Ms. Horenburger questioned the expansion of the proposal and any issues
involved. Attorney spillias indicated an RFP area could not arbitrarily be
expanded. Ms. Bright stated that substantial deviation would be open to
interpretation, adding that they have repeatedly tried to include the Public Works
site. Ms. Bright commented she had not been able to secure the information
needed to answer very specific questions that had been asked.
Rev. Chaney wanted clarification regarding the City asking for limited
participation in one paragraph and at the same time saying it is a public meeting.
He wondered if the meeting had been appropriately presented to the public and
questioned what would happen if he wanted to attend the meeting with the
public. Attorney spillias responded there were different types of "public
meetings". The public meeting that a board holds has certain legal requirements
that cannot be dismissed, such as notice, The mere fact that the meeting is open
to the public does not mean that it is the kind of public meeting that requires
those notices. The City Commlssion certainly does not need to allow anyone else
to participate in any way other than to observe.
"
3
Meeting Minutes
Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
Mr. Norem wanted to know what would happen if a vocal Commissioner started
participating. Attorney Spillias cautioned that if Commissioners start participating,
then it would become a pUblic meeting that had to be publicly noticed.
Ms. Heavilin inquired if any of the Commissioners or anyone on the CRA Board
were to participate or comment during the meeting, would that impact the C~'s
ability to vote on the agreement. Attorney Spillias did not like the fact that, due
to claims of obstructionism and lack of cooperation on the CRA's part, the City
Commission had taken an action where they now have taken on the
responsibility incurred. He suggested the City Manager and City Attorney, coming
into this at a very difficult time, were trying to establish framework to make sure
that communication gaps could no longer occur because it would all be written
down. Mr. Spillias did not know how well that would work. He recommended
since nobOdy could know what the dynamic would be like, it would be wise to let
this first meeting be the City Commission's show. He would report back to the
board, which would then be better positioned to make a good jUdgment. Ms.
Heavilin added that she was very uncomfortable with the fact that they were
opening negotiations up to the public and she doubted negotiations could be
streamlined with the Commissioners and press attending.
Mr. Norem stated that, to date, he did not know of any member of the eRA
board that had participated in the legal negotiations. The board had never been
involved in the negotiations of this agreement, but that could change next week.
Attorney Spillias agreed and added that one of the difficulties is that no one had
designated a member of the CRA board as a negotiation participant.
Rev. Chaney questioned what would happen if the City Commission and the
developer agreed to this agreement and this board did not. Chair Tillman
confirmed that if the agreement came back around and the CRA did not want to
sign it, it would not be signed.
Ms. Bright indicated she felt less pressure now that they were considered a
resource and confirmed that they were anxious to move forward. It had been
uncomfortable to be accused of something that was not even remotely accurate.
Mr. Sims wanted everyone to know that he saw a large number of community
folks speaking up for the CRA, so the "approval rating" must be looking good. He
suspected this new process would be a mockery and would become more
difficult. He believed the Board still had something to loose if it did not recognize
that much of the community believed in the CRA. He opined if this negotiation
falls apart, the CRA would be bashed by the community. He suggested it would
be wise to be proactive to mai[ltain their approval rating.
4
Meeting Minutes
Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
Chair Tillman reminded everyone that when the incident happened in the Mall
and the City did not respond, the CRA held a meeting immediately and discussed
a ninety day information blitz. The CRA had initiated a proactive process and
should be more in the forefront, especially right now. He reported that Ms. Bright
had already started some projects with pUblic relations firm in Ft. Lauderdale to
push these concepts forward. He also shared a current Boynton Beach CRA,
Heart of Boynton, article in a Delray Beach magazine. The CRA was doing the
right thing and needed to keep doing the right thing. Ms. Bright added that she
had spoken to community residents and shared that the CRA was still committed
to all the initiatives and was not stopping or going anYWhere.
Mr. Myott stated that the Treasure Coast Proposal for Market Study, Planning
Evaluation & Analysis, and RFP Assistance for "Heart of Boynton" Redevelopment
Project would work for the future of Boynton development whether the
agreement with Intown moved forward or not. The CRA had done something
positive, since all information gathered would be valuable. He requested the
negotiation minutes be added to the CRA March meeting. Ms. Bright confirmed
she would debrief everyone with the highlights and distribute the actual minutes.
Mr. Myott wanted to know who would be responsible for approving those
minutes and Attorney Spillias indicated the City Commission would approve the
minutes.
Rev. Chaney voiced that although it seemed they were living under the shadow
of being dissolved if they did not agree with certain factions of our community,
that was really not what this was about. It was really about the CRA doing the
best it could for the citizens and the community, not worrying about the
repercussions.
Following up on recent inquiries, Ms. Bright suggested the group come up with a
plan to start making acquisitions on the corridor. Ms. Horenburger confirmed the
CRA was responsible for redeveloping the MLK corridor and as such, the CRA
needs to continue to do its job. If the negotiations did not work out with the
developer, the CRA needed to be in a position to move forward. Chair Tillman
endorsed business as usual.
Ms. Horenburger expressed that they should consider a consensus for Attorney
Spillias to develop a lobbyist registration policy for the board. Discussion
indicated it would be considered. Mr. Norem then read verbatim a short overview
of the experience of BetheSda Healthcare System regarding a joint venture
project they had been involved in.
5
Meeting Minutes
Community Redevelopment Agency
Boynton Beach, Florida
February 15, 2007
IV. Adjournment
Motion
Mr. Sims moved to adjourn the meeting at 7:26 p.m. and Ms. Horenburger
seconded the motion that unanimously passed.
Respectfully submitted,
,~ ~~Uj(t
Robin Heming ay
Recording Secretary
02/15/07
6
MINUTES OF THE SPECIAL JOINT MEETING OF THE COMMUNITY REDEVELOPMENT
AGENCY AND PLANNING AND DEVELOPMENT BOARD HELD ON TUESDAY,
FEBRUARY 27, 2007 AT 7:05 P.M. IN CITY COMMISSION CHAMBERS
COMMUNITY REDEVELOPMENT AGENCY
PRESENT:
Henderson Tillman, Chair
Stomet Norem, Vice Chair
Rev. Lance Chaney
Jeanne Heavilin
Marie Horenburger
Steve Myott
Guarn Sims
Lisa Bright, Executive Director
Ken Spillias, Board Attorney
PLANNING AND DEVELOPMENT BOARD
PRESENT:
Lee Wische, Chair
Woodrow Hay, Vice Chair
Sergio Casaine
William Cwynar
Shirley Jaskiewicz
Matthew Barnes, Alternate
Sharon Grcevic, Alternate
Jamila Alexander, Assistant City Attorney
Mike Rumpf, Director, Planning and Zoning
ABSENT:
Jon Blehar
Roger Saberson
Mike Rumpf opened the meeting at 7:05 p.m. and welcomed all.
Workforce Housing Program
Code Review
Project:
Agent:
Description:
Workforce Housing Regulations (CDRV 07-003)
City- Initiated
Request to amend the Land Development Regulations to
include a Workforce Housing Program that creates a
supply of workforce housing units within the City. The
program would implement recommendations of the
j,
1
Meeting Minutes
Joint Planning &. Development and CRA
Boynton Beach, Florida
February 27, 2007
Boynton Beach Housing Needs Assessment Study and
include eligibility requirements, incentives using
development density, provisions to ensure continued
program implementation, and flexibility for compliance
with emphasis on the contribution of on-site housing units.
The purpose of the meeting was to hear recommendations from both boards on the Affordable
Housing Ordinance and forward recommendations to the City Commission. A workshop was
held on January 30, 2007 with the City Commission and two recommendations were made.
The first recommendation was to determine if prefabricated housing would meet building codes
and if it could accommodate the needs of the Ordinance. The second recommendation dealt
with using non-conforming lots for housing.
Ms. Brooks, CRA Planner, explained Palm Beach County enacted an Ordinance last year that
required all development to include workforce-housing units. The City, likewise, recognized the
need for workforce housing. She noted the affordable housing units that existed in Boynton
Beach were either age restricted, and the units that were not, were old. To grow and
strengthen the City's economy, an array of housing types and pricing would be needed.
The proposed Ordinance would allow a developer to request an increase in density in certain
land use categories provided they offered workforce housing units in the development. Special
High Density Residential land use classification would have 20% workforce housing; Mixed-Use
(Mixed-Use Low 1, 2 and 3) and Mixed-Use Core, which are typically multifamily zoning land use
designations, would have 15% and 10% workforce-housing units respectively. Ms. Brooks also
clarified the Mixed-Use Core was generally the Central Business District and was a fairly small
area.
Staff felt the market was down and the time was right to enact the Ordinance. Ms. Brooks
explained there were only 264 acres of buildable land available in the City, with the majority of
them being small infill areas. The exchange for the land would be the increase in density. She
clarified this was not a requirement; rather it was an option the developer could request.
Individuals who currently owned land with the designated land use classifications would not be
impacted.
I,
The units would be restricted to individuals and families earning less than 120% of the median
household income using HUD's calculations, which was $64,400. Those figures were higher
than the City's median income and would allow more individuals to qualify. There were three
categories in the Affordable Housing Ordinance: Very-low, which was below 50% of the median
household income; Low, which was 50%-80% of the median household income, and Moderate,
which was 80% to 120% of the median household income. Most of the units that would be
supplied were in the moderate range, and Ms. Brooks reported developers knew how to reach
their markets. The units would be comparable to the market rate units, having the same
exteriors, and would be offered in the same ratio and mix as the market units. Often,
developers did not have to market the units, they just spoke with the CDCs and other similar
entities.
2
Meeting Minutes
Joint Planning &. Development and CRA
Boynton Beach, Florida
February 27, 2007
Workforce housing units would also be deed restricted for 30 years; however, owners would
earn equity the longer they inhabited the dwelling. Ms. Brooks noted after five years there
would be quite a bit more equity earned. The homes would also need to be resold to another
income-qualified person earning between $35K and $77K per year.
Ms. Jaskiewicz asked if the Ordinance would apply to projects already in process or wit~ time
extensions. She asked how many potential future developers could apply.
Ms. Brooks explained the Ordinance would not apply to anyone with approved site plans or site
plan time extensions. She pointed out site plan time extensions were valid for 18 months.
Under Option II, those seeking an additional site plan time extension would be subject to the
Ordinance.
Chair Henderson, CRA, asked what the time line for building would be under the Ordinance, and
if neighborhoods would be ruined if the density were traded for workforce housing.
Ms. Brooks responded the developer would build the workforce units concurrently with the
market rate units. She clarified there was only one off site option, and that was if the
development was a luxury development and 80% of the units had a sales price of $500K or
greater. She also explained the density referenced in the Ordinance was the same density
contained in the adopted Heart of Boynton Plan. She clarified the community provided
feedback with the HOB plan and did not feel neighborhoods would not be negatively impacted.
Chair Henderson asked about restrictions on where the housing could be built. Ms. Brooks
clarified only the designated land use classifications would have the housing on site, and further
commented the Ordinance only applied to land within City limits. Previously, the Federal
Highway Corridor allowed for these uses, but the Ordinance expanded the provision throughout
the City to encourage the use of small infill sites. The City wanted to capture the development
on those sites. No development woUld be 100% workforce housing unless a developer wanted
it to be so.
Mr. Rumpf explained the process prioritized workforce housing. The Ordinance did not
jeopardize zoning analyses. If a piece of property needed to be rezoned into one of the
speCified land use designations, staff would still conduct the same review and tests for rezoning
to determine any impacts and compatibility issues.
Ms. Heavilin commented the inventory must remain affordable for 30 years. She asked if a
developer was unable to sell those units, would they remain vacant?
Ms. Brooks explained the mechanism the City had to enforce the program was restrictions
would be placed on the units that would be filed and. recorded prior to a Certificate of
Occupancy being issued. She referenced Cornerstone CDC and explained new relationships
would develop in the market place. This type of program was working very well in California
and Maryland.
I,
3
Meeting Minutes
Joint Planning &. Development and CRA
Boynton Beach, Florida
February 27,2007
Ms. Heavilin asked about payment in lieu of units if the land was donated and the appraisals
paid for by the developer. She thought the cost of appraisals should be reversed; the buyer
typically obtained the appraisals. Ms. Heavilin did not think the developer should control the
price. Ms. Brooks explained appraisals would then be made on land developers did not own.
She thought appraisals were part of the development cost and if an appraisal was obtained
from an MAl appraisal, staff was knowledgeable to identify whether it was a realistic appraisal
and sales price.
Mr. Cwynar was not in favor of the initiative and felt builders should not be told what to do. He
spoke about the effect of impact fees and ad valorem taxes, and thought the Ordinance should
be tabled until after the next session of the Legislature to see what they did with the property
tax and/or sales tax. He clarified he was not against workforce housing, but it was market
driven. He indicated if builders did not take a chance to develop homes and communities, no
one would have a home.
There was discussion the Ordinance was offering a trade, land for density, and builders would
make a profit. There was also discussion that $500K homes would be built next to workforce
housing units.
Ms. Brooks explained Special High Density Residential, Mixed-Use and Mixed-Use Core would
not be single-family homes. In the Central Business District, the permitted residential density
was 10.6%. A developer could request, under approved redevelopment plans, up to 80 units
per acre. Several projects were already in process that would not be subject to the request
unless the developer requested. The highest average density within the entire City was 10.8%
and a developer would have a very hard time demonstrating how the increased density had
hurt them unless they overpaid for the land.
Ms. Jaskiewicz commented the last workshop dealt mainly with condominium units. She
announced the American dream was to own a home, and most families would not want to live
in a condominium with 200 other families. She asked how the Ordinance would help residents
own a home. She asked if monies were accumulated in a trust fund, whether the City could
offer a diversified housing stock and whether the Housing Trust would be confined to the CRA
area.
J,
Ms. Brooks responded a Housing Trust would be a City-wide fund. She also explained town
homes were reported to be the new single-family homes for young families. The CRA was
purchasing single-family infill lots and turning them over to Habitat for Humanity and the
Boynton Beach Faith Based CDC. There were rehabilitation programs available and many tools
were needed to address the issue in total. She explained the Ordinance did not address all
segments of the population; however, the Ordinance was the biggest tool they had. A
precarious situation had been created, and although prices would adjust, she reported they had
not adjusted enough for most people in California. California cannot find and keep labor.
Similarly, Boynton Beach has a service economy; if services were not available, residents would
leave the area. Purportedly, more workers left Florida over the last quarter than moved in.
School enrollment declined signific<:!ntly and 40% of individuals were not able to purchase
homes during the last three years.
F
4
Meeting Minutes
Joint Planning &. Development and CRA
Boynton Beach, Florida
February 27, 2007
Lisa Bright, CRA Executive Director, announced for the record, the CRA has four initiatives:
economic development, elimination of slum and blight, affordable housing, and community
policing. These were the reason the density in the downtown area was being discussed.
Mr. Casaine commented this was the first opportunity the City had to address workforce
housing. He announced he had discussed this Ordinance with developers and they all a'greed
with it, provided it was beneficial to them.
Chair Henderson observed housing for teachers, police and firefighters does not exist, and
government and private sectors need to partner.
Christopher Roog, Gold Coast Builders Association, announced he reviewed the Ordinance.
He agreed other factors have a bearing on affordable housing and announced programs could
be problematic if they relied solely on density. He recommended waving impact fees, the fees
for Art in Public Places, and providing an expedited review for workforce housing projects. He
noted the price of the buyout in the Ordinance was high. Historically, the buyout amounts were
used to fill the affordability gap of the existing income level versus what the average price was.
He explained if there was an affordability gap of $70K, traditionally that was the in-lieu of fee.
The Housing Leadership Council and HUD have a publication for reducing barriers to public
housing. The builders association would like to see a parallel track to those to determine what
could be waived. Land was the central issue. Ms. Brooks agreed with Mr. Roog's comments
that impact fees should be waived for affordable housing.
Rev. Chaney was concerned with the median income range of $64K used by HUD, which
contrasted with the actual median income of about $40K for City residents. He noted a large
population was excluded and a more realistic number should be used. He thought if he ran
statistics, the price of an affordable housing unit for moderate to medium, those prices would
still equate to $240K - $305K per unit. He also asked how a rental program would be
beneficial.
Ms. Brooks explained 25% of the workforce units would be for low-income participants. The
applicant would apply for a mortgage for whatever amount could be obtained and down
payment assistance was available up to $74K for Low-income participants. She reiterated the
Ordinance did not capture all populations; however, Tax Credit Programs, SHIP Downpayment
Assistance, Infill Housing, and Habitat for Humanity were all tools that could reach more
people.
, ,
The rent levels required for the workforce housing units would be set by income limits and
would not be subsidized, similar to rent controlled units where the rents were capped. Twenty-
five percent would be for Low-income and 75% would be Moderate. The median income of
$64K was used because the rules would be uniform with the County and State rules, and
participants could access subsidies. She noted $64,400 was the income limit for a family of
four. The average sized family in the City was 2.3 persons per dwelling. There would also be
two income families. With the luxury builders, if units were offered in a community at $450K
and market rate units were $500K, tne amount of subsidy would be absurd.
5
Meeting Minutes
Joint Planning &. Development and CRA
Boynton Beach, Florida
February 27, 2007
Hanna Matras, Economic Development Planner, explained the City did not have income
studies. The data the City had from commercial providers showed the median income was
about $43K per year. They needed to be consistent with other State and County programs.
With the Very-low income category, the average income of $8K per year was not viable for the
program. She clarified that was why the City included the Low-income level. Rev. ~haney
suggested using $38K with a variance of $8K. Ms. Matras thought at some point price
adjustments would be made.
Chair Wische thought the program would give many people earning less than $34K false hope.
He suggested distributing literature indicating applicants needed to earn more than $34K in
order to utilize the program.
Ms. Brooks commented in some instances a person earning less than $34K could obtain a
home. There were many factors involved, but she emphasized the main issue was there was
no housing inventory to even consider purchasing a home.
There was discussion the cost of the housing was not the issue; rather it was the cost of
maintaining the home. Mr. Cwynar noted individuals are taxed. He referenced FPL and
explained the State mandated a sales tax be paid from where the bill was issued. He
announced the Dade County Sales Tax is 7% with 6% to the State and a 1 % sales tax to the
County. Residents were paying a 1% sales tax to Dade County on all FPL payments. He
explained similar situations occur with the phone company, businesses that rent, property taxes
and water. He thought those issues should be examined. Mr. Myott agreed there should be tax
reform but felt the larger issue was no inventory and having a housing program in place.
The units would be put on the tax rolls at the price the buyer paid including the subsidies. The
sales price of the workforce units was calculated on homeowner association fees, insurance,
management fees and others. Ms. Brooks explained neither board could change issues such as
taxes and fees, and there should be a study to see how that would affect workforce housing.
Additionally, another workshop should be held.
Ms. Brooks clarified Option 2 were comments they added pertaining to applicability. The
language specified projects applying for site plan time extensions and developments whose site
plans expired would be included. Staff also wanted to tighten ways to prevent opting out and
added language that in any case where off-site options were permitted, 25% of the total units
would be constructed on site.
Motion
Ms. Horenburger moved to approve Option 2. Mr. Myott seconded the motion that unanimously
passed.
J,
Ms. Bright clarified anytime the CRA staff entertained a Direct Incentive Funding Agreement
under affordable housing programs, the CRA routinely wrote off the impact fees for the
development. That was a standard Incentive.
6
Meeting Minutes
Joint Planning 8r. Development and eRA
Boynton Beach, Florida
February 27, 2007
Motion
Mr. Casaine moved to approve Option 2 with two changes; the change on the income-qualified
household to be properly defined in accordance to the income of the City of Boynton Beach,
and that the density being discussed was actually attainable. Ms. Jaskiwiecz seconded the
motion that passed 6-1 (Mr. Cwynar dissenting). .
Mr. Rumpf advised he would forward the recommendations to the City Commission.
There was a short discussion on whether there would be another workshop held for fine-tuning
the Ordinance. It was suggested inviting the City Commission if one was held.
Adjournment
There being no further business to discuss, there was consensus from both boards to adjourn.
Meeting properly adjourned at 8:25 p.m.
~ l!1Vv1l.j- Nd~
Catherine Cherry-Guberman
Recording Secretary
030207
, ,
7
I'"
f
~<1Y~T2~lC
East Side-West Side-Seas'lde Rena'lssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
CRA BOARD MEETING OF: MARCH 13, 2007
AGENDA ITEM:
x I Consent Agenda
Old Business
New Business
Public Hearing
Other
SUBJECT: MONTHLY FINANCIAL REPORT
SUMMARY: Monthly budget report to the CRA Board representing the revenues and expenses for the
month ending February 28,2007.
I.....
FISCAL IMPACT: As of February 28, 2007 the CRA had received 95.99 % of expected revenue and
expended 24.61 % of its appropriations for fiscal 2006-2007.
RECOMMENDATIONS: NA
"
~...
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Monthly Financial report,doc
2-23-2007 09:33 AM
01 -GENERAL FUND
FINANCIAL SUMMARy
REVENUE SUMMARy
T.I.F.INCOME
MARINA RENT & GRANT INC
MARKETING INCOME
FESTIVALS & EVENT INCOME
INVESTMENT INCOME
CONTRIBUTIONS & DONATION
MISCELLANEOUS
OTHER FINANCING SOURCES
TOTAL REVENUES
EXPENDITURE SUMMARY
LEGISLATIVE
ADMINISTRATIVE
AUDITOR
FINANCE
INSURANCES
PROFESSIONAL SERVICES
PLANNING
BUILDINGS & PROPERTY
MARINA
COMMUNICATIONS & TECHNOLO
SOFTWARE & TECHNOLOGY
CONTINGENCY
POLICE
TRANSPORTATION
INCENTIVES & GRANTS
SPECIAL EVENTS
ECONOMIC DEVELOPMENT
SIGNAGE PROGRAM
HEART OF BOYNTON
DEVELOPMENT PROJECTS
EMPLOYEE BEBEFITS
DEBT SERVICE
TRANSFER OUT
TOTAL EXPENDITURES
REVENUES OVER/(UNDER) EXPENDITURES
ORIGINAL
BUDGET
9,000,000
620,000
10,000
2,000
180,000
1,000
o
o
9,813,000
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
9,000,000
620,000
10,000
2,000
180,000
1,000
o
o
9,813,000
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PAGE:
1
0.00
12,246.00
0.00
702.98
56,630.42
0.00
13.00
0.00
9,292,498.65
48,416.73
0.00
13,461. 60
121,509.56
0.00
98.24
0.00
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
292,498.65)
571,583.27
10,000.00
11,461.60)
58,490.44
1,000.00
98.24)
0.00
------------ ------------ ------------- ------------- ------------- -------------
------------ ------------ ------------- ------------- ------------- -------------
48,800
233,216
10,900
176,101
40,311
613,525
225,200
245,945
39,000
83,404
30,077
500,000
120,000
646,420
325,000
264,800
353,050
15,000
200,000
2,400,295
152,183
3,089,773
o
9,813,000
48,800
243,116
23,608
176,901
55,881
611,525
226,200
251,825
39,000
83,404
30,077
480,950
120,000
646,420
325,000
265,400
355,050
15,000
200,000
2,372,335
152,235
3,090,273
o
9,813,000
69,592.40
9,475,984.78
0.00
5,083.35
1,020.77
0.00
537.67
0.00
71,500.00
23,977.67
178,556.10
25,697.62
37,929.69
12,540.00
0.00
113,118.00
460,758.53
0.00
128,442.80
17,346.63
1,400.00
448.22
14,552.28
720.00
0.00
0.00
337,015.22
21,528.19
163,850.65
4,670.63
120,291.87
992.00
439,592.05
155,339.33
6,708.16
7,196.55)
40,850.25
10,537.00
480,950.00-
0.00
13,143.00
310,000.00
71,161. 09
63,988.66
12,850.00
192,509.17
1,952,782.72
83,835.62
3,090,273.00
0.00
o
------------ ------------ ------------- ------------- ------------- -------------
------------ ------------ ------------- ------------- ------------- -------------
7,228,656.84
o
1,031.97
17,772.84
18,930.00
13,927.78
0.00
5,290.00
15,269.91
28,120.41
18,482.40
1,717.93
1,000.00
0.00
666.00
66,732.97
0.00
30,652.88
75,077.10
750.00
2,542.61
5,000.00
8,501.56
0.00
0.00
22,188.46
78,244.58
18,9-37.37
56,071.46
54,889.00
100,432.95
46,883.00
66,560.74
20,498.93
4,624.06
7,000.00
0.00
6,882.00
172,518.47
15,000.00
65,796.11
273,714.71
750.00
7,042.61
405,000.00
67,679.38
0.00
0.00
311,466.36
1,490,713.83
1,093,629.33
241,873.96) 7,985,270.95 ( 1,093,629.33) ( 6,891,641.62)
3.25-
92.19
100.00
573.08-
32.49
100.00
0.00
0.00
3.43
-------
-------
44.12
67.40
19.78
68.00
1. 78
71.88
68.67
2.66
18.45-
48.98
35.03
100.00
0.00
2.03
95.38
26.81
18.02
85.67
96.25
82.31
"55.07
100.00
0.00
73.66
-------
-------
0.00
2-23-2007 09:33 AM
01 -GENERAL FUND
REVENUES
T. I. F. INCOME
01-41000 T.I.F. COLLECTIONS
TOTAL T.I.F.INCOME
MARINA RENT & GRANT INC
01-42100 TROLLY -FEDERAL & MPO GRANTS
01-42110 MARINA - COUNTY GRANT
01-42112 MORTGAGE REIMB. - COUNTY GRAN
01-42115 MARINA RENTS
01-42116 MISCELLANEOUS RENTS FRO PROPE
01-42117 MARINA FUEL SALES
01-42118 MARINA MISC INCOME
01-42120 MANGROVE LAND PURCHASE
TOTAL MARINA RENT & GRANT INC
MARKETING INCOME
01-43100 TROLLY MARKETING INCOME
TOTAL MARKETING INCOME
FESTIVALS & EVENT INCOME
01-44100 FESTIVAL & EVENT INCOME
01-44101 SHARED FESTIVAL INCOME-PIRATE
01-44102 SHARED FESTIVAL INC- MEDIEVAL
01-44103 SHARED FESTIVAL INC - HERITAG
01-44104 SHARED FESTIVAL INC-HOLIDAY F
TOTAL FESTIVALS & EVENT INCOME
INVESTMENT INCOME
01-46100 INTEREST INCOME
TOTAL INVESTMENT INCOME
CONTRIBUTIONS & DONATION
01-47100 CONTRIBUTIONS & DONATIONS
TOTAL CONTRIBUTIONS & DONATION
MISCELLANEOUS
01-48100 MISCELLANEOUS INCOME
01-48200 REFUND FROM PRIOR YEAR EXP
TOTAL MISCELLANEOUS
ORIGINAL
BUDGET
9,000,000
9,000,000
o
500,000
o
120,000
o
o
o
o
620,000
10,000
10,000
2,000
o
o
o
o
2,000
180,000
180,000
1,000
1,000
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
9,000,000.0
9,000,000
0.0
500,000.0
0.0
120,000.0
0.0
0.0
0.0
0.0
620,000
10,000.0
10,000
2,000.0
0.0
0.0
0.0
0.0
2,000
180,000.0
180,000
1,000.0
1,000
o
o
o
MONTHLY
ACTIVITY
0.00
0.00
0.00
0.00
0.00
12,246.00
0.00
0.00
0.00
0.00
12,246.00
0.00
0.00
0.00
0.00
0.00
0.00
702.98
702.98
56,630.42
56,630.42
0.00
0.00
0.0
0.0
o
13 .00
0.00
13.00
YEAR-TO-DATE
BALANCE
9,292,498.65
9,292,498.65
0.00
0.00
0.00
47,448.99
967.74
0.00
0.00
0.00
48,416.73
0.00
0.00
0.00
8,288.85
3,369.77
0.00
1,802.98
13,461.60
121,509.56
121,509.56
0.00
0.00
98.24
0.00
98.24
TOTAL
ENCUMBERED
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PAGE:
2
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
292,498.65)
292,498.65)
0.00
500,000.00
0.00
72,551.01
967.74)
0.00
0.00
0.00
571,583.27
10,000.00
10,000.00
2,000.00
8,288.85)
3,369.77)
0.00
1,802.98)
11,461.60)
58,490.44
58,490.44
1,000.00
1,000.00
98.24)
0.00
98.24)
3.25-
3.25-
0.00
100.00
0.00
60.46
0.00
0.00
0.00
0.00
92.19
100.00
100.00
100.00
0.00
0.00
0.00
0.00
573.08-
32.49
32.49
100.00
100.00
0.00
0.00
0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
3
01 - GENERAL FUND
REVENUES
% OF
ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET
BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING
0 0.0 0.00 0.00 0.00 0.00 0.00
0 0 0.00 0.00 0.00 0.00 0.00
OTHER FINANCING SOURCES
01-49100 OTHER FINANCING SOURCES
TOTAL OTHER FINANCING SOURCES
TOTAL REVENUES
9,813,000
9,813,000
69,592.40
9,475,984.78
0.00
337,015.22
3.43
============ ============ ============= ============= ============= ============= =======
2-23-2007 09:33 AM
01 - GENERAL FUND
LEGISLATIVE
DEPARTMENTAL EXPENDITURES
PURCHASED/CONTRACT SERV
01-51010-200 CONTRACTUAL EXPENSE
01-51010-203 MISCELLANEOUS
01-51010-216 ADVERTISING & PUBLIC NOTI
01-51010-220 PROMO & BUSINESS TRAVEL
01-51010-225 ASSOC. MEETINGS & SEMINAR
01-51010-227 DELIVERY SERVICES
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51010-3(l{}--OFFICE EXPENSE
TOTAL SUPPLIES
TOTAL LEGISLATIVE
ORIGINAL
BUDGET
6,000
3,200
1,000
o
36,000
2,000
48,200
48,800
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
6,000
3,200
1,000
o
36,000
2,000
48,200
600
600
600
600
48,800
MONTHLY
ACTIVITY
1,014.51
500.00
66.26
0.00
170.83
184.50
1,936.10
904.13)
904.13)
1,031.97
YEAR-TO-DATE
BALANCE
1,508.63
2,085.00
291.61
0.00
16,612.06
1,205.63
21,702.93
485.53
485.53
22,188.46
TOTAL
ENCUMBERED
4,491.37
0.00
0.00
0.00
0.00
478.25
4,969.62
113.73
113.73
5,083.35
UNENCUMBERED
BALANCE
0.00
1,115.00
708.39
0.00
19,387.94
316.12
21,527.45
21,528.19
0.74
0.74
PAGE:
4
% OF
BUDGET
REMAINING
0.00
34.84
70.84
0.00
53.86
15.81
44.66
0.12
0.12
44.12
2-23-2007 09:33 AM
01 -GENERAL FUND
ADMINISTRATIVE
DEPARTMENTAL EXPENDITURES
PERSONNEL SERVICES
01-51230-100 PERSONNEL SERVICES
01-51230-115 CAR ALLOWANCE
TOTAL PERSONNEL SERVICES
PURCHASED/CONTRACT SERV
01-51230-200 CONTRACTUAL EXPENSE
01-51230-203 MISCELLANEOUS
01-51230-220 PROMO & BUSINESS TRAVEL
01-51230-225 ASSOC. MEETINGS & SEMINAR
01-51230-22-6-.MEMBERSHIP DUES
01-51230-227 DELIVERY SERVICES
01-51230-229 CAREER DEVELOPMENT
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51230-300 OFFICE EXPENSE
01-51230-310 OFFICE SUPPLIES
01-51230-355 SUBSCRIPTIONS
01-51230-360 BOOKS & PUBLICATIONS
01-51230-365 OFFICE PRINTING COSTS
TOTAL SUPPLIES
DEPRECIATION & AMORT
01-51230-610 DEPRECIATION
TOTAL DEPRECIATION & AMORT
TOTAL ADMINISTRATIVE
ORIGINAL
BUDGET
195,000
4,030
199,030
500
2,000
o
10,000
4,870
500
3,000
20,870
1,000
7,500
1,316
1,000
2,500
13,316
233,216
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
o
o
AMENDED
BUDGET
204,900
4,030
208,930
500
2,000
o
10,000
4,870
500
3,000
20,870
1,000
7,500
1,316
1,000
2,500
13,316
243,116
MONTHLY
ACTIVITY
15,592.32
310.00
15,902.32
0.00
0.00
0.00
447.54
878.00
0.00
0.00
1,325.54
56.95
488.03
0.00
0.00
0.00
544.98
o
o
0.00
0.00
17,772.84
YEAR-TO-DATE
BALANCE
63,082.27
1,200.90
64,283.17
0.00
2,000.00
0.00
7,353.20
2,723.00
200.00
0.00
12,276.20
123.40
1,174.71
289.20
97.90
0.00
1,685.21
0.00
0.00
78,244.58
TOTAL
ENCUMBERED
0.00
0.00
0.00
0.00
0.00
0.00
483.11
0.00
0.00
0.00
483.11
0.00
537.66
0.00
0.00
0.00
537.66
0.00
0.00
1,020.77
UNENCUMBERED
BALANCE
141,817.73
2,829.10
144,646.83
500.00
0.00
0.00
2,163.69
2,147.00
300.00
3,000.00
8,110.69
876.60
5,787.63
1,026.80
902.10
2,500.00
11,093.13
0.00
0.00
163,850.65
PAGE:
5
% OF
BUDGET
REMAINING
69.21
70.20
69.23
100.00
0.00
0.00
21. 64
44.09
60.00
100.00
38.86
87.66
77.17
78.02
90.21
100.00
83.31
0.00
0.00
67.40
2-23-2007 09:33 AM
01 -GENERAL FUND
AUDITOR
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
% OF
BUDGET
REMAINING
PURCHASED/CONTRACT SERV
01-51320-202 AUDITORS FEES
01-51320-227 DELIVERY SERVICES
TOTAL PURCHASED/CONTRACT SERV
10,700
200
10,900
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
0.00
0.00
0.00
UNENCUMBERED
BALANCE
4,470.63
200.00
4,670.63
PAGE:
6
23,408
200
23,608
18,930.00
0.00
18,930.00
18,937.37
0.00
18,937.37
19.10
100.00
19.78
TOTAL AUDITOR
10,900
19.78
23,608
18,930.00
18,937.37
0.00
4,670.63
2-23-2007 09:33 AM
01 -GENERAL FUND
FINANCE
DEPARTMENTAL EXPENDITURES
PERSONNEL SERVICES
01-51325-100 PERSONNEL SERVICES
01-51325-115 CAR ALLOWENCE
TOTAL PERSONNEL SERVICES
PURCHASED/CONTRACT SERV
01-51325-200 CONTRACTUAL EXPENSE
01-51325-201 BANK FEES
01-51325-203 MISCELLANEOUS
01-51325-220 PROMO & BUSINESS TRAVEL
01-51325-2Z!o5'.ASSOC. MEETINGS & SEMINAR
01-51325-226 MEMBERSHIP DUES
01-51325-227 DELIVERY COSTS
01-51325-229 CAREER DEVELOPMENT
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51325-300 OFFICE EXPENSE
01-51325-310 OFFICE SUPPLIES
01-51325-355 SUBSCRIPTIONS
01-51325-360 BOOKS & PUBLICATIONS
01-51325-365 OFFICE PRINTING COSTS
TOTAL SUPPLIES
CAPITAL OUTLAY
01-51325-400 EQUIPMENT COSTS
TOTAL CAPITAL OUTLAY
DEPRECIATION & AMORT
01-51325-610 DEPRECIATION
TOTAL DEPRECIATION & AMORT
TOTAL FINANCE
ORIGINAL
BUDGET
149,000
2,600
151,600
4,500
500
o
o
8,200
1,300
361
3,000
17,861
1,500
3,000
o
100
1,040
5,640
1,000
1,000
176,101
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
o
o
AMENDED
BUDGET
149,000
2,600
151,600
4,500
1,300
o
o
8,200
1,300
361
3,000
18,661
1,500
3,000
o
100
1,040
5,640
1,000
1,000
176,901
MONTHLY
ACTIVITY
11,461. 52
200.00
11,661. 52
238.32
210.58
0.00
0.00
561.89
0.00
0.00
0.00
1,010.79
0.00
1,255.47
0.00
0.00
0.00
1,255.47
0.00
0.00
o
o
0.00
0.00
13,927.78
YEAR-TO-DATE
BALANCE
46,992.23
900.00
47,892.23
787.49
932.64
0.00
0.00
4,489.08
0.00
137.43
0.00
6,346.64
0.00
1,832.59
0.00
0.00
0.00
1,832.59
0.00
0.00
0.00
0.00
56,071.46
TOTAL
ENCUMBERED
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
537.67
0.00
0.00
0.00
537.67
0.00
0.00
0.00
0.00
537.67
UNENCUMBERED
BALANCE
102,007.77
1,700.00
103,707.77
3,712.51
367.36
0.00
0.00
3,710.92
1,300.00
223.57
3,000.00
12,314.36
1,500.00
629.74
0.00
100.00
1,040.00
3,269.74
PAGE:
7
% OF
BUDGET
REMAINING
68.46
65.38
68.41
82.50
28.26
0.00
0.00
45.26
100.00
61. 93
100.00
65.99
100.00
20.99
0.00
100.00
100.00
57.97
1,000.00 100.00
1,000.00- 100.00
0.00 0.00
0.00 0.00
120,291.87 68.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
8
01 -GENERAL FUND
INSURANCES
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
PURCHASED/CONTRACT SERV
01-51410-200 CONTRACTUAL EXPENSE 6,300 6,586 0.00 5,884.00 0.00 702.00 10.66
01-51410-213 GENERAL PROPERTY COVERAGE 29,000 44,570 0.00 44,570.00 0.00 0.00 0.00
01-51410-214 EMPLOYEE FIDELITY COVERAG 811 825 0.00 825.00 0.00 0.00 0.00
01-51410-215 DIRECTORS & OFFICERS COVE 4,200 3,900 0.00 3,610.00 0.00 290.00 7.44
TOTAL PURCHASED/CONTRACT SERV 40,311 55,881 0.00 54,889.00 0.00 992.00 1. 78
TOTAL INSURANCES 40,311 55,881 0.00 54,889.00 0.00 992.00 1. 78
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
9
01 - GENERAL FUND
PROFESSIONAL SERVICES
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
PURCHASED/CONTRACT SERV
01-51420-200 CONTRACTUAL EXPENSE 126,000 126,000 2,837.50 2,593.75 11,500.00 111,906.25 88.81
01-51420-201 CONTRACT LEGAL 350,000 350,000 2,407.50 67,674.20 0.00 282,325.80 80.66
01-51420-203 LOBBYING COSTS- FED & STA 80,000 80,000 0.00 0.00 60,000.00 20,000.00 25.00
01-51420-204 CITY STAFF COSTS 7,325 7,325 45.00 45.00 0.00 7,280.00 99.39
01-51420-227 CONTRACT LEGAL DELIVERY S 200 200 0.00 0.00 0.00 200.00 100.00
01-51420-228 BUILDING & DEMOLITION PER 50,000 48,000 0.00 30,120.00 0.00 17,880.00 37.25
TOTAL PURCHASED/CONTRACT SERV 613,525 611,525 5,290.00 100,432.95 71,500.00 439,592.05 71. 88
TOTAL PRaFESSIONAL SERVICES 613,525 611,525 5,290.00 100,432.95 71,500.00 439,592.05 71. 88
2-23-2007 09:33 AM
01 -GENERAL FUND
PLANNING
DEPARTMENTAL EXPENDITURES
PERSONNEL SERVICES
01-51440-100 PERSONNEL SERVICES
TOTAL PERSONNEL SERVICES
PURCHASED/CONTRACT SERV
01-51440-200 CONTRACTUAL EXPENSE
01-51440-203 MISCELLANEOUS
01-51440-216 ADVERTISING & PUBLIC NOTI
01-51440-220 PROMO & BUSINESS TRAVEL
01-51440-225 ASSOC. MEETINGS & SEMINAR
01-51440-2J~.MEMBERSHIP DUES
01-51440-227 DELIVERY SERVICES
01-51440-229 CAREER DEVELOPMENT
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51440-300 OFFICE EXPENSE
01-51440-310 OFFICE SUPPLIES
01-51440-355 SUBSCRIPTIONS
01-51440-360 BOOKS & PUBLICATIONS
01-51440-365 OFFICE PRINTING COSTS
TOTAL SUPPLIES
CAPITAL OUTLAY
01-51440-400 EQUIPMENT COSTS
TOTAL CAPITAL OUTLAY
DEPRECIATION & AMORT
01-51440-610 DEPRECIATION
TOTAL DEPRECIATION & AMORT
TOTAL PLANNING
ORIGINAL
BUDGET
86,000
86,000
124,000
o
1,000
o
3,800
900
500
1,500
131,700
3,000
1,200
200
300
2,500
7,200
225,200
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
300
300
AMENDED
BUDGET
86,000
86,000
124,000
o
1,000
o
4,800
900
500
1,500
132,700
2,860
1,340
200
300
2,500
7,200
300
300
o
o
226,200
MONTHLY
ACTIVITY
6,615.38
6,615.38
8,000.00
0.00
0.00
0.00
120.67
225.00
0.00
0.00
8,345.67
0.00
293.86
0.00
0.00
15.00
308.86
0.00
0.00
o
o
0.00
0.00
15,269.91
YEAR-TO-DATE
BALANCE
29,323.05
29,323.05
12,900.00
0.00
0.00
0.00
2,861.32
656.25
100.00
0.00
16,517.57
0.00
801.41
0.00
95.00
145.97
1,042.38
0.00
0.00
0.00
0.00
46,883.00
TOTAL
ENCUMBERED
0.00
0.00
23,280.00
0.00
0.00
0.00
160.00
0.00
0.00
0.00
23,440.00
0.00
537.67
0.00
0.00
0.00
537.67
0.00
0.00
0.00
0.00
23,977.67
UNENCUMBERED
BALANCE
56,676.95
56,676.95
87,820.00
0.00
1,000.00
0.00
1,778.68
243.75
400.00
1,500.00
92,742.43
2,860.00
0.92
200.00
205.00
2,354.03
5,619.95
300.00
300.00
0.00
0.00
155,339.33
PAGE:
10
% OF
BUDGET
REMAINING
65.90
65.90
70.82
0.00
100.00
0.00
37.06
27.08
80.00
100.00
69.89
100.00
0.07
100.00
68.33
94.16
78.05
100.00
100.00
0.00
0.00
68.67
2-23-2007 09:33 AM
01 -GENERAL FUND
BUILDINGS & PROPERTY
DEPARTMENTAL EXPENDITURES
PURCHASED/CONTRACT SERV
01-51620-200 CONTRACTUAL EXPENSE
01-51620-205 RENTAL OF OFFICES
01-51620-206 MAINTENENCE & CLEANING
01-51620-207 OFFICE SPACE CHARGES
01-51620-208 EQUIPMENT LEASES
01-51620-209 PROPERTY MAINTENENCE COST
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51620-3~~.POSTAGE COSTS
01-51620-325 ELECTRICITY COSTS
01-51620-326 WATER CHARGES
TOTAL SUPPLIES
CAPITAL OUTLAY
01-51620-400 EQUIPMENT COSTS
TOTAL CAPITAL OUTLAY
DEPRECIATION & AMORT
01-51620-600 DEPREACTION EXPENSE
TOTAL DEPRECIATION & AMORT
TOTAL BUILDINGS & PROPERTY
ORIGINAL
BUDGET
2,000
48,229
5,400
3,700
11,616
150,000
220,945
2,000
10,000
8,000
20,000
5,000
5,000
245,945
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
2,000
48,400
8,280
4,529
11,827
152,000
227,036
2,000
10,000
8,000
20,000
4,789
4,789
o
o
251,825
MONTHLY
ACTIVITY
138.25
4,000.00
690.00
1,468.28
1,469.00
18,034.72
25,800.25
216.27
459.75
938.67
1,614.69
705.47
705.47
o
o
0.00
0.00
28,120.41
YEAR-TO-DATE
BALANCE
589.75
16,000.00
2,860.00
3,706.04
4,242.90
35,382.95
62,781. 64
512.05
1,193.83
1,367.75
3,073.63
705.47
705.47
0.00
0.00
66,560.74
TOTAL
ENCUMBERED
730.25
32,000.00
5,420.00
54.40
7,584.00
116,563.10
162,351.75
765.93
8,806.17
6,632.25
16,204.35
0.00
0.00
0.00
0.00
178,556.10
UNENCUMBERED
BALANCE
680.00
400.00
0.00
768.56
0.10
53.95
1,902.61
722.02
0.00
0.00
722.02
4,083.53
4,083.53
6,708.16
0.00
0.00
PAGE:
11
% OF
BUDGET
REMAINING
34.00
0.83
0.00
16.97
0.00
0.04
0.84
36.10
0.00
0.00
3.61
85.27
85.27
0.00
0.00
2.66
2-23-2007 09:33 AM
01 -GENERAL FUND
MARINA
DEPARTMENTAL EXPENDITURES
PURCHASED/CONTRACT SERV
01-51630-200 CONTRACTUAL
01-51630-206 MAINTENANCE
01-51630-209 PROPERTY MAINTENENCE
01-51630-241 MARINA FUEL MANAGEMENT
01-51630-242 MARINE FUEL STATION OVERH
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51630-325 ELECTRIC COSTS
01- 5163 0 - 3206-. WATER COSTS
01-51630-327 GASOLINE & DEISEL FUEL PU
TOTAL SUPPLIES
CAPITAL OUTLAY
01-51630-400 EQUIPMENT COCTS
TOTAL CAPITAL OUTLAY
TOTAL MARINA
ORIGINAL
BUDGET
10,000
1,000
15,000
o
o
26,000
6,000
2,000
o
8,000
5,000
5,000
39,000
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
9,200
1,000
15,000
o
o
25,200
6,800
2,000
o
8,800
5,000
5,000
39,000
MONTHLY
ACTIVITY
273.96
0.00
9,950.00
2,180.91
0.00
12,404.87
518.84
168.68
5,390.01
6,077.53
0.00
0.00
18,482.40
YEAR-TO-DATE
BALANCE
273.96
0.00
10,100.00
2,180.91
0.00
12,554.87
2,251.48
302.57
5,390.01
7,944.06
0.00
0.00
20,498.93
TOTAL
ENCUMBERED
0.00
0.00
9,500.00
0.00
0.00
9,500.00
4,520.19
1,697.43
0.00
6,217.62
9,980.00
9,980.00
25,697.62
PAGE:
12
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
8,926.04
1,000.00
4,600.00)
2,180.91)
0.00
3,145.13
28.33
0.00
5,390.01)
5,361.68)
4,980.00)
4,980.00)
7,196.55)
97.02
100.00
30.67-
0.00
0.00
12.48
0.42
0.00
0.00
60.93-
99.60-
99.60-
18.45-
2-23-2007 09:33 AM
01 -GENERAL FUND
COMMUNICATIONS & TECHNOLO
DEPARTMENTAL EXPENDITURES
PURCHASED/CONTRACT SERV
01-51650-200 CONTRACTUAL EXPENSE
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-51650-330 TELEPHONE LINES
01-51650-335 T-1 COMMUNICATION LINE
01-51650-340 CELLULAR PHONES
01-51650-345 WEB SITE
01-51650-350 WI-FI ANNUAL COST
TOTAL SUP-PLIES
CAPITAL OUTLAY
01-51650-400 EQUIPMENT COSTS
TOTAL CAPITAL OUTLAY
TOTAL COMMUNICATIONS & TECHNOLO
ORIGINAL
BUDGET
7,500
1,500
3,504
25,400
44,000
81,904
1,000
1,000
83,404
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
500
500
930
930
7,500
1,500
6,504
25,400
41,000
81,904
570
570
83,404
MONTHLY YEAR-TO-DATE
ACTIVITY BALANCE
0.00 930.00
0.00 930.00
387.87
255.13
501.18
0.00
573.75
1,717.93
809.84
350.79
1,569.68
0.00
963.75
3,694.06
0.00
0.00
0.00
0.00
1,717.93
4,624.06
PAGE:
13
% OF
TOTAL UNENCUMBERED BUDGET
ENCUMBERED BALANCE REMAINING
0.00 0.00 0.00
0.00 0.00 0.00
5,190.16
1,149.21
4,790.32
25,400.00
1,400.00
37,929.69
0.00
0.00
37,929.69
1,500.00
0.00
144.00
0.00
38,636.25
40,280.25
570.00
570.00
40,850.25
20.00
0.00
2.21
0.00
94.23
49.18
100.00
100.00
48.98
2-23-2007 09:33 AM
01 -GENERAL FUND
SOFTWARE & TECHNOLOGY
DEPARTMENTAL EXPENDITURES
PURCHASED/CONTRACT SERV
01-51680-200 CONTRACTUAL EXPENSE
01-51680-210 IT SUPPORT
01-51680-211 COMPUTER SOFTWARE LICENSE
01-51680-212 ACCOUNTING LIC & SUPPORT
TOTAL PURCHASED/CONTRACT SERV
CAPITAL OUTLAY
01-51680-400 EQUIPMENT COSTS
TOTAL CAPITAL OUTLAY
DEPRECIATION & AMORT
01-51680-610 DEPRECIATION
TOTAL DEPRECIATION & AMORT
TOTAL SOFTWARE & TECHNOLOGY
ORIGINAL
BUDGET
1,200
18,540
5,000
4,337
29,077
1,000
1,000
30,077
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
1,200
18,540
5,000
4,337
29,077
1,000
1,000
o
o
30,077
MONTHLY
ACTIVITY
1,000.00
0.00
0.00
0.00
1,000.00
0.00
0.00
o
o
0.00
0.00
1,000.00
YEAR-TO-DATE
BALANCE
1,000.00
6,000.00
0.00
0.00
7,000.00
0.00
0.00
0.00
0.00
7,000.00
TOTAL
ENCUMBERED
0.00
12,540.00
0.00
0.00
12,540.00
0.00
0.00
0.00
0.00
12,540.00
UNENCUMBERED
BALANCE
200.00
0.00
5,000.00
4,337.00
9,537.00
1,000.00
1,000.00
0.00
0.00
10,537.00
PAGE:
14
% OF
BUDGET
REMAINING
16.67
0.00
100.00
100.00
32.80
100.00
100.00
0.00
0.00
35.03
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
15
01 -GENERAL FUND
CONTINGENCY
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY YEAR-TO-DATE
ACTIVITY BALANCE
% OF
TOTAL UNENCUMBERED BUDGET
ENCUMBERED BALANCE REMAINING
PURCHASED/CONTRACT SERV
01-51990-200 CONTRACTUAL EXPENSE
TOTAL PURCHASED/CONTRACT SERV
500,000
500,000
480,950
480,950
0.00 0.00
0.00 0.00
0.00 480,950.00 100.00
0.00 480,950.00 100.00
TOTAL CONTINGENCY
500,000
480,950
0.00 0.00
0.00 480,950.00 100.00
2-23-2007 09:33 AM BOYNTON BEACH CRA PAGE: 16
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
01 -GENERAL FUND
POLICE
% OF
ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET
DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING
PERSONNEL SERVICES
01-53120-100 PERSONNEL SERVICES 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL PERSONNEL SERVICES 0 0 0.00 0.00 0.00 0.00 0.00
PURCHASED/CONTRACT SERV
01-53120-200 CONTRACTUAL EXPENSE 120,000 120,000 666.00 6,882.00 113,118.00 0.00 0.00
TOTAL PURCHASED/CONTRACT SERV 120,000 120,000 666.00 6,882.00 113,118.00 0.00 0.00
SUPPLIES
01-53120-320 POLICE SUPPLIES 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL SUPPLIES 0 0 0.00 0.00 0.00 0.00 0.00
CAPITAL OUTLAY
01-53120-400 EQUIPMENT COSTS 0 0 0.00 0.00 0.00 0.00 0.00
01-53120-410 POLICE CRUISER 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL CAPITAL OUTLAY 0 0 0.00 0.00 0.00 0.00 0.00
DEPRECIATION & AMORT
01-53120-610 DEPRECIATION 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL DEPRECIATION & AMORT 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL POLICE 120,000 120,000 666.00 6,882.00 113,118.00 0.00 0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
17
01 -GENERAL FUND
TRANSPORTATION
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
PURCHASED/CONTRACT SERV
01-55110-200 CONTRACTUAL EXPENSE
01-55110-230 TROLLEY OPERATIONS
01-55110-231 TROLEY MARKETING COSTS
01-55110-232 TROLLEY SYSTEMS COSTS
TOTAL PURCHASED/CONTRACT SERV
500 500 0.00 0.00 0.00 500.00 100.00
556,920 556,920 62,400.00 160,250.00 385,960.00 10,710.00 1. 92
84,000 84,000 4,332.97 9,693.47 74,798.53 492.00) 0.59-
5,000 5,000 0.00 2,575.00 0.00 2,425.00 48.50
646,420 646,420 66,732.97 172,518.47 460,758.53 13,143.00 2.03
646,420 646,420 66,732.97 172,518.47 460,758.53 13,143.00 2.03
TOTAL TRANSPORTATION
2-23-2007 09:33 AM
01 -GENERAL FUND
INCENTIVES & GRANTS
DEPARTMENTAL EXPENDITURES
PURCHASED/CONTRACT SERV
01-57200-200 CONTRACTUAL EXPENSE
01-57200-236 PBC - DEVELOP. REGIONS GR
01-57200-237 RESIDENTIAL IMPROVEMENT P
01-57200-238 COMMERCIAL IMPROVEMENT PR
01-57200-239 ECONOMIC DEVELOPMENT PROG
01-57200-240 DIRECT INCENTIVE PROGRAM
TOTAL PURCHASED/CONTRACT SERV
TOTAL INeENTIVES & GRANTS
ORIGINAL
BUDGET
o
100,000
o
100,000
125,000
o
325,000
325,000
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
o
100,000
o
100,000
125,000
o
325,000
325,000
MONTHLY
ACTIVITY
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
YEAR-TO-DATE
BALANCE
0.00
0.00
0.00
15,000.00
0.00
0.00
15,000.00
15,000.00
TOTAL
ENCUMBERED
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
UNENCUMBERED
BALANCE
0.00
100,000.00
0.00
85,000.00
125,000.00
0.00
310,000.00
310,000.00
PAGE:
18
% OF
BUDGET
REMAINING
0.00
100.00
0.00
85.00
100.00
0.00
95.38
95.38
2-23-2007 09:33 AM
01 -GENERAL FUND
SPECIAL EVENTS
DEPARTMENTAL EXPENDITURES
PERSONNEL SERVICES
01-57400-100 PERSONNEL SERVICES
TOTAL PERSONNEL SERVICES
PURCHASED/CONTRACT SERV
01-57400-200 CONTRACTUAL EXPENSE
01-57400-203 MISCELLANEOUS
01-57400-216 ADVERTISING & PUBLIC NOTI
01-57400-217 NEWS LETTER
01-57400-218 ANNUAL REPORT & BROCHURES
01-57400-2l-9'--FESTIVALS & EVENTS
01-57400-220 PROMO & BUSINESS TRAVEL
01-57400-221 CRA MEETINGS & EVENTS
01-57400-225 ASSOC. MEETINGS & SEMINAR
01-57400-227 DELIVERY SERVICES
01-57400-229 CAREER DEVELOPMENT
01-57400-236 PHOTOGRAPHY / VIDEOS
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-57400-300 OFFICE EXPENSE
01-57400-310 OFFICE SUPPLIES
01-57400-355 SUBSCRIPTIONS
01-57400-360 BOOKS & PUBLICATIONS
01-57400-365 OFFICE PRINTING COSTS
TOTAL SUPPLIES
DEPRECIATION & AMORT
01-57400-610 DEPRECIATION
TOTAL DEPRECIATION & AMORT
TOTAL SPECIAL EVENTS
ORIGINAL
BUDGET
60,000
60,000
76,900
o
35,000
14,000
50,000
o
o
o
6,000
200
o
15,000
197,100
2,500
2,500
200
o
2,500
7,700
264,800
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
o
o
AMENDED
BUDGET
60,000
60,000
76,900
o
35,000
14,600
50,000
o
o
o
6,000
200
o
15,000
197,700
2,500
2,500
200
45
2,455
7,700
265,400
MONTHLY
ACTIVITY
4,615.38
4,615.38
4,927.00
0.00
0.00
6,692.84
13,325.00
0.00
0.00
0.00
679.95
0.00
0.00
0.00
25,624.79
137.90
274.81
0.00
0.00
0.00
412.71
o
o
0.00
0.00
30,652.88
YEAR-TO-DATE
BALANCE
18,923.07
18,923.07
13,977.00
0.00
6,497.75
6,692.84
13,833.50
0.00
0.00
0.00
3,840.73
114.70
0.00
1,050.00
46,006.52
137.90
728.62
0.00
0.00
0.00
866.52
0.00
0.00
65,796.11
TOTAL
ENCUMBERED
0.00
0.00
56,173.00
0.00
28,327.25
7,829.88
34,675.00
0.00
0.00
0.00
400.00
0.00
0.00
0.00
127,405.13
0.00
537.67
0.00
0.00
500.00
1,037.67
0.00
0.00
128,442.80
UNENCUMBERED
BALANCE
41,076.93
41,076.93
6,750.00
0.00
175.00
77.28
1,491.50
0.00
0.00
0.00
1,759.27
85.30
0.00
13,950.00
24,288.35
2,362.10
1,233.71
200.00
45.00
1,955.00
5,795.81
0.00
0.00
71,161. 09
PAGE:
19
% OF
BUDGET
REMAINING
68.46
68.46
8.78
0.00
0.50
0.53
2.98
0.00
0.00
0.00
29.32
42.65
0.00
93.00
12.29
94.48
49.35
100.00
100.00
79.63
75.27
0.00
0.00
26.81
2-23-2007 09:33 AM
01 -GENERAL FUND
ECONOMIC DEVELOPMENT
DEPARTMENTAL EXPENDITURES
PERSONNEL SERVICES
01-57500-100 PERSONNEL SERVICES
TOTAL PERSONNEL SERVICES
PURCHASED/CONTRACT SERV
01-57500-216 ADVERTISING & PUBLIC NOTI
01-57500-219 FESTIVALS & EVENTS
01-57500-220 PROMO & BUSINESS TRAVEL
01-57500-222 BUSINESS PROGRAMING
01-57500-223 BUSINESS GENESIS
01-57500-22oS-'ASSOC. MEETINGS & SEMINAR
01-57500-226 MEMBERSHIP DUES
TOTAL PURCHASED/CONTRACT SERV
SUPPLIES
01-57500-300 OFFICE EXPENSE
01-57500-310 OFFICE SUPPLIES
01-57500-355 SUBSCRIPTIONS
01-57500-360 BOOKS & PUBLICATIONS
01-57500-365 OFFICE PRINTING COSTS
TOTAL SUPPLIES
DEPRECIATION & AMORT
01-57500-610 DEPRECIATION
TOTAL DEPRECIATION & AMORT
TOTAL ECONOMIC DEVELOPMENT
ORIGINAL
BUDGET
28,050
28,050
o
325,000
o
o
o
o
o
325,000
353,050
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
28,050
28,050
o
325,000
o
o
o
o
o
325,000
o
o
o
o
o
o
o
2,000
o
o
o
2,000
o
o
355,050
MONTHLY YEAR-TO-DATE
ACTIVITY BALANCE
4,384.62 10,303.85
4,384.62 10,303.85
0.00
70,329.54
0.00
0.00
0.00
87.67
0.00
70,417.21
0.00
275.27
0.00
0.00
0.00
275.27
o
o
0.00
0.00
75,077 .10
0.00
263,047.92
0.00
0.00
0.00
87.67
0.00
263,135.59
0.00
275.27
0.00
0.00
0.00
275.27
0.00
0.00
273,714.71
PAGE:
20
% OF
TOTAL UNENCUMBERED BUDGET
ENCUMBERED BALANCE REMAINING
0.00 17,746.15 63.27
0.00 17,746.15 63.27
0.00
17,257.00
0.00
0.00
0.00
0.00
0.00
17,257.00
0.00
89.63
0.00
0.00
0.00
89.63
0.00
0.00
17,346.63
0.00
44,695.08
0.00
0.00
0.00
87.67)
0.00
44,607.41
0.00
1,635.10
0.00
0.00
0.00
1,635.10
0.00
0.00
63,988.66
0.00
13.75
0.00
0.00
0.00
0.00
0.00
13.73
0.00
81. 76
0.00
0.00
0.00
81. 76
0.00
0.00
18.02
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
21
01 - GENERAL FUND
SIGNAGE PROGRAM
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
UNENCUMBERED
BALANCE
% OF
BUDGET
REMAINING
PURCHASED/CONTRACT SERV
01-58000-200 CONTRACTUAL EXPENSE
01-58000-224 SIGN CONSTRUCTION
TOTAL PURCHASED/CONTRACT SERV
5,000
10,000
15,000
5,000
10,000
15,000
0.00
750.00
750.00
0.00
750.00
750.00
0.00
1,400.00
1,400.00
5,000.00
7,850.00
12,850.00
100.00
78.50
85.67
TOTAL SIGNAGE PROGRAM
15,000
15,000
750.00
750.00
1,400.00
12,850.00
85.67
2-23-2007 09:33 AM BOYNTON BEACH CRA PAGE: 22
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
01 - GENERAL FUND
HEART OF BOYNTON
% OF
ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET
DEPARTMENTAL EXPENDITURES BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING
PURCHASED/CONTRACT SERV
01-58200-200 CONTRACTUAL EXPENSE 200,000 200,000 2,542.61 7,042.61 448.22 192,509.17 96.25
01-58200-232 NON PHASE I PROPERTY PURC 0 0 0.00 0.00 0.00 0.00 0.00
01-58200-233 TWN SQ PROJ - HS REHAB 0 0 0.00 0.00 0.00 0.00 0.00
01-58200-234 TRASH SYSTEM 0 0 0.00 0.00 0.00 0.00 0.00
01-58200-235 SAVAGE CREATURES 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL PURCHASED/CONTRACT SERV 200,000 200,000 2,542.61 7,042.61 448.22 192,509.17 96.25
DEPRECIATION & AMORT
01-58200-610 DEPRECIATION 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL DEPRECIATION & AMORT 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL HEART OF BOYNTON 200,000 200,000 2,542.61 7,042.61 448.22 192,509.17 96.25
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
23
01 -GENERAL FUND
DEVELOPMENT PROJECTS
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY YEAR-TO-DATE
ACTIVITY BALANCE
% OF
TOTAL UNENCUMBERED BUDGET
ENCUMBERED BALANCE REMAINING
PURCHASED/CONTRACT SERV
01-58300-200 CONTRACTUAL EXPENSE
TOTAL PURCHASED/CONTRACT SERV
2,400,295
2,400,295
2,372,335
2,372,335
5,000.00 405,000.00
5,000.00 405,000.00
14,552.28 1,952,782.72 82.31
14,552.28 1,952,782.72 82.31
TOTAL DEVELOPMENT PROJECTS
2,400,295
2,372,335
5,000.00 405,000.00
14,552.28 1,952,782.72 82.31
2-23-2007 09:33 AM
01 -GENERAL FUND
EMPLOYEE BEBEFITS
DEPARTMENTAL EXPENDITURES
PERSONNEL SERVICES
01-59000-150 COMPENSATED TIME OFF
01-59000-151 F.I.C.A.
01-59000-152 MEDICARE
01-59000-153 RETIREMENT PLAN 401(a)
01-59000-154 WORKERS COMP INSURANCE
01-59000-155 HEALTH INSURANCE
01-59000-156 DENTAL INSURANCE
01-59000-157 LIFE INSURANCE
01-59000-158 SHORT / LONG TERM DISABIL
01-59000-159-- UNEMPLOYMENT CHARGES
01-59000-160 VISION INSURANCE
01-59000-161 COMPENSATED ABSENSES
TOTAL PERSONNEL SERVICES
TOTAL EMPLOYEE BEBEFITS
ORIGINAL
BUDGET
o
32,401
7,999
60,495
5,714
32,254
3,164
2,064
2,634
5,000
458
o
152,183
152,183
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
AMENDED
BUDGET
o
32,401
7,999
60,495
5,714
32,254
3,164
2,116
2,634
5,000
458
o
152,235
152,235
MONTHLY
ACTIVITY
0.00
2,632.26
615.62
250.00
0.00
4,092.10
239.63
434.83
0.00
206.74
30.38
0.00
8,501.56
8,501.56
YEAR-TO-DATE
BALANCE
0.00
9,506.47
2,451.37
41,707.00
0.00
11,242.05
868.64
1,573.14
0.00
222.21
108.50
0.00
67,679.38
67,679.38
TOTAL
ENCUMBERED
0.00
0.00
0.00
0.00
0.00
720.00
0.00
0.00
0.00
0.00
0.00
0.00
720.00
720.00
UNENCUMBERED
BALANCE
0.00
22,894.53
5,547.63
18,788.00
5,714.00
20,291.95
2,295.36
542.86
2,634.00
4,777.79
349.50
0.00
83,835.62
83,835.62
PAGE:
24
% OF
BUDGET
REMAINING
0.00
70.66
69.35
31. 06
100.00
62.91
72.55
25.66
100.00
95.56
76.31
0.00
55.07
55.07
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
25
01 - GENERAL FUND
DEBT SERVICE
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
DEBT SERVICE
01-59800-810 LOAN PRINCIPAL 675,823 675,823 0.00 0.00 0.00 675,823.00 100.00
01-59800-811 BOND #1 PRINCIPAL 600,000 600,000 0.00 0.00 0.00 600,000.00 100.00
01-59800-812 BOND #2 PRINCIPAL 235,000 235,000 0.00 0.00 0.00 235,000.00 100.00
01-59800-820 LOAN INTEREST 204,015 204,015 0.00 0.00 0.00 204,015.00 100.00
01-59800-821 BOND #1 INTEREST 786,615 786,615 0.00 0.00 0.00 786,615.00 100.00
01-59800-822 BOND #2 INTEREST 588,320 588,320 0.00 0.00 0.00 588,320.00 100.00
01-59800-830 FINANCIAL AGENT FEES 0 500 0.00 0.00 0.00 500.00 100.00
01-59800-840 BONDING INSURANCE COSTS 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL DEBT SERVICE 3,089,773 3,090,273 0.00 0.00 0.00 3,090,273.00 100.00
TOTAL DEBT SERVICE 3,089,773 3,090,273 0.00 0.00 0.00 3,090,273.00 100.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
26
01 -GENERAL FUND
TRANSFER OUT
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
OTHER FINANCING USES
01-59999-990 INTERFUND TRANSFERS OUT
TOTAL OTHER FINANCING USES
TOTAL TRANSFER OUT
0 0 0.00 0.00 0.00 0.00 0.00
0 0 0.00 0.00 0.00 0.00 0.00
0 0 0.00 0.00 0.00 0.00 0.00
9,813,000 9,813,000 311,466.36 1,490,713.83 1,093,629.33 7,228,656.84 73.66
------------ ------------ ------------- ------------- ------------- ------------- -------
------------ ------------ ------------- ------------- ------------- ------------- -------
0 0 241,873.96) 7,985,270.95 ( 1,093,629.33) ( 6,891,641.62) 0.00
TOTAL EXPENDITURES
REVENUES OVER/(UNDER) EXPENDITURES
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
1
02 -BOND PROJECTS FUND
FINANCIAL SUMMARY
% OF
ORIGINAL AMENDED MONTHLY YEAR-TO-DATE TOTAL UNENCUMBERED BUDGET
BUDGET BUDGET ACTIVITY BALANCE ENCUMBERED BALANCE REMAINING
REVENUE SUMMARY
INVESTMENT INCOME 86,000 86,000 40,955.92 182,405.90 0.00 96,405.90) 112.10-
MISCELLANEOUS 0 0 0.00 0.00 0.00 0.00 0.00
OTHER FINANCING SOURCES 11,464,000 11,464,000 0.00 0.00 0.00 11,464,000.00 100.00
TOTAL REVENUES 11,550,000 11,550,000 40,955.92 182,405.90 0.00 11,367,594.10 98.42
------------ ------------ ------------- ------------- ------------- ------------- -------
------------ ------------ ------------- ------------- ------------- ------------- -------
EXPENDITURE SUMMARY
BOND #2 I S-SYE COST 0 0 0.00 0.00 0.00 0.00 0.00
BANK FEES 0 0 0.00 501. 01 0.00 501. 01) 0.00
HOB SPECIAL PROJECT 1,550,000 1,550,000 1,106,081.00 1,122,411.02 0.00 427,588.98 27.59
HAKK PROPERTY CITY SHARE 0 0 0.00 0.00 0.00 0.00 0.00
STREET SCAPE IMPROVEMENT 10,000,000 10,000,000 477,865.00 1,025,083.45 0.00 8,974,916.55 89.75
TRANSFER OUT - ASSET TRA 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL EXPENDITURES 11,550,000 11,550,000 1,583,946.00 2,147,995.48 0.00 9,402,004.52 81. 40
------------ ------------ ------------- ------------- ------------- ------------- -------
------------ ------------ ------------- ------------- ------------- ------------- -------
REVENUES OVER/(UNDER) EXPENDITURES 0 0 ( 1,542,990.08) ( 1,965,589.58) 0.00 1,965,589.58 0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
2
02 -BOND PROJECTS FUND
REVENUES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
INVESTMENT INCOME
02-46100 INTEREST INCOME 5,000 5,000.0 565.87 3,386.57 0.00 1,613.43 32.27
02-46150 BOND INTEREST INCOME 10,000 10,000.0 40,390.05 179,019.33 0.00 169,019.33)1,690.19-
02-46160 BOND #1 RESERVE INTEREST INC 57,000 57,000.0 0.00 0.00 0.00 57,000.00 100.00
02-46161 BOND #2 RESERVE INTEREST INC. 14,000 14,000.0 0.00 0.00 0.00 14,000.00 100.00
TOTAL INVESTMENT INCOME 86,000 86,000 40,955.92 182,405.90 0.00 96,405.90) 112.10-
MISCELLANEOUS
02-48100 MISCELLANEOUS INCOME 0 0.0 0.00 0.00 0.00 0.00 0.00
02-48110 PHASE I RENT FROM RELOCATIONS 0 0.0 0.00 0.00 0.00 0.00 0.00
TOTAL MISCELLANEOUS 0 0 0.00 0.00 0.00 0.00 0.00
OTHER FINANCING SOURCES
02-49100 OTHER FINANCING SOURCES 11,464,000 11,464,000.0 0.00 0.00 0.00 11,464,000.00 100.00
02-49900 TRANSFERS IN 0 0.0 0.00 0.00 0.00 0.00 0.00
TOTAL OTHER FINANCING SOURCES 11,464,000 11,464,000 0.00 0.00 0.00 11,464,000.00 100.00
TOTAL REVENUES 11,550,000 11,550,000 40,955.92 182,405.90 0.00 11,367,594.10 98.42
------------ ------------ ------------- ------------- ------------- ------------- -------
------------ ------------ ------------- ------------- ------------- ------------- -------
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
3
02 -BOND PROJECTS FUND
BOND #2 ISSUE COST
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
CAPITAL OUTLAY
02-55500-474 AMORTIZATION BOND#l ISSUE 0 0 0.00 0.00 0.00 0.00 0.00
02-55500-475 AMORTIZATION BOND#l PREMI 0 0 0.00 0.00 0.00 0.00 0.00
02-55500-476 AMORTIZATION BOND#2 ISSUE 0 0 0.00 0.00 0.00 0.00 0.00
02-55500-477 AMORTIZATION BOND#2 PREMI 0 0 0.00 0.00 0.00 0.00 0.00
02-55500-478 BOND #2 ISSUE COSTS 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL CAPITAL OUTLAY 0 0 0.00 0.00 0.00 0.00 0.00
TOTAL BOND #2 ISSUE COST 0 0 0.00 0.00 0.00 0.00 0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
4
02 -BOND PROJECTS FUND
BANK FEES
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
PURCHASED/CONTRACT SERV
02-58100-201 BANK FEES
TOTAL PURCHASED/CONTRACT SERV
o
o
o
o
0.00
0.00
501.01
501. 01
0.00
0.00
501.01)
501.01)
0.00
0.00
TOTAL BANK FEES
o
o
0.00
501.01
0.00 (
501. 01)
0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
5
02 -BOND PROJECTS FUND
HOB SPECIAL PROJECT
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
CAPITAL OUTLAY
02-58200-449 TAXES DUE ON PROP PURCHAS 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-450 LAND ASSEMBLY FROM BOND # 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-451 PHASE I RELOCATION COSTS 50,000 50,000 0.00 0.00 0.00 50,000.00 100.00
02-58200-463 MARINA PURCHASE 1,000,000 1,000,000 1,106,081.00 1,122,411.02 0.00 122,411.02) 12.24-
02-58200-464 BANK FEES 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-465 HALL PROPERTY CITY SHARE 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-466 BBB EXTENTION/PROMENADE 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-467 BBB EXTENTION CONST. MGMT 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-468 MARINA VILLAGE PARKING GA 0 0 0.00 0.00 0.00 0.00 0.00
02-58200-47-0.-BOYNTON BEACH BLVD - DESI 250,000 250,000 0.00 0.00 0.00 250,000.00 100.00
02-58200-472 MLK - DESIGN 250,000 250,000 0.00 0.00 0.00 250,000.00 100.00
TOTAL CAPITAL OUTLAY 1,550,000 1,550,000 1,106,081.00 1,122,411.02 0.00 427,588.98 27.59
TOTAL HOB SPECIAL PROJECT 1,550,000 1,550,000 1,106,081.00 1,122,411.02 0.00 427,588.98 27.59
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
6
02 -BOND PROJECTS FUND
HAKK PROPERTY CITY SHARE
ORIGINAL
DEPARTMENTAL EXPENDITURES BUDGET
AMENDED
BUDGET
MONTHLY YEAR-TO-DATE
ACTIVITY BALANCE
% OF
TOTAL UNENCUMBERED BUDGET
ENCUMBERED BALANCE REMAINING
CAPITAL OUTLAY
02-58220-465 HALL PROPERTY - CITY SHAR 0
TOTAL CAPITAL OUTLAY 0
o
o
0.00 0.00
0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
TOTAL HAKK PROPERTY CITY SHARE 0
o
0.00 0.00
0.00 0.00 0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
7
02 -BOND PROJECTS FUND
STREET SCAPE IMPROVEMENT
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
CAPITAL OUTLAY
02-58300-450 LAND ASSEMBLY 4,700,000 4,700,000 477,865.00 1,021,583.45 0.00 3,678,416.55 78.26
02-58300-469 4TH AVE DESIGN & CONST 1,860,000 1,860,000 0.00 0.00 0.00 1,860,000.00 100.00
02-58300-470 BBB-DESIGN & CONSTRUCTION 0 0 0.00 0.00 0.00 0.00 0.00
02-58300-471 SEACREST - 30% DESIGN COS 0 0 0.00 0.00 0.00 0.00 0.00
02-58300-472 MLK - 30% DESIGN COST 0 0 0.00 0.00 0.00 0.00 0.00
02-58300-473 AFFORDABLE ACCESS PROGRAM 3,000,000 3,000,000 0.00 0.00 0.00 3,000,000.00 100.00
02-58300-474 HOB RESIDENTIAL IMPROV.PR 440,000 440,000 0.00 3,500.00 0.00 436,500.00 99.20
TOTAL CAPITAL OUTLAY 10,000,000 10,000,000 477,865.00 1,025,083.45 0.00 8,974,916.55 89.75
TOTAL STREET SCAPE IMPROVEMENT 10,000,000 10,000,000 477,865.00 1,025,083.45 0.00 8,974,916.55 89.75
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
8
02 -BOND PROJECTS FUND
TRANSFER OUT - ASSET TRA
ORIGINAL
DEPARTMENTAL EXPENDITURES BUDGET
AMENDED
BUDGET
MONTHLY YEAR-TO-DATE
ACTIVITY BALANCE
% OF
TOTAL UNENCUMBERED BUDGET
ENCUMBERED BALANCE REMAINING
OTHER FINANCING USES
02-59999-990 TRANSFERS OUT - ASSET TRA 0
TOTAL OTHER FINANCING USES 0
o
o
0.00 0.00
0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
TOTAL TRANSFER OUT - ASSET TRA 0
o
0.00 0.00
0.00 0.00 0.00
TOTAL EXPENDITURES 11,550,000
11,550,000
1,583,946.00 2,147,995.48
0.00 9,402,004.52 81.40
============ ============ ============= ============= ============= ============= =======
REVENUES OVER/(ONDER) EXPENDITURES
o
o ( 1,542,990.08) ( 1,965,589.58)
0.00
1,965,589.58
0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
1
03 -DEBT SERVICE
FINANCIAL SUMMARY
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
REVENUE SUMMARY
INVESTMENT INCOME
OTHER FINANCING SOURCES
o
o
o
o
10,331.44 41,001.17 0.00 41,001.17) 0.00
0.00 0.00 0.00 0.00 0.00
10,331.44 41,001.17 0.00 41,001.17) 0.00
------------- ------------- ------------- ------------- -------
------------- ------------- ------------- ------------- -------
TOTAL REVENUES
o
o
------------ ------------
------------ ------------
EXPENDITURE SUMMARY
DEBT SERVICES
o
o
TOTAL EXPENDITURES
0.00
0.00
0.00
0.00
o
0.00
o
0.00
0.00
0.00
0.00
0.00
REVENUES OVER/(UNDER) EXPENDITURES
============ ============ ============= ============= ============= ============= =======
o
o
10,331.44
41,001.17
0.00
41,001.17)
0.00
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
2
03 -DEBT SERVICE
REVENUES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
INVESTMENT INCOME
03-46100 INTEREST INCOME
03-46161 BOND #1 RESERVE INTEREST INCO
03-46162 BOND #2 RESERVE INTEREST INCO
TOTAL INVESTMENT INCOME
o
o
o
o
0.0 418.70 1,549.64 0.00 1,549.64) 0.00
0.0 6,345.27 25,381.08 0.00 25,381.08) 0.00
0.0 3,567.47 14,070.45 0.00 14,070.45) 0.00
0 10,331.44 41,001.17 0.00 41,001.17) 0.00
0.0 0.00 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00 0.00
OTHER FINANCING SOURCES
03-49900 TRANSFERS IN
TOTAL OTHER FINANCING SOURCES
o
o
TOTAL REVENUES
o
o
10,331.44
41,001.17
0.00
41,001.17)
0.00
============ ============ ============= ============= ============= ============= =======
2-23-2007 09:33 AM
BOYNTON BEACH CRA
REVENUE & EXPENDITURES REPORT (UNAUDITED)
AS OF: JANUARY 31ST, 2007
PAGE:
3
03 -DEBT SERVICE
DEBT SERVICES
DEPARTMENTAL EXPENDITURES
ORIGINAL
BUDGET
AMENDED
BUDGET
MONTHLY
ACTIVITY
YEAR-TO-DATE
BALANCE
TOTAL
ENCUMBERED
% OF
UNENCUMBERED BUDGET
BALANCE REMAINING
PURCHASED/CONTRACT SERV
03-59800-201 BANK FEES
TOTAL PURCHASED/CONTRACT SERV
o
o
0 0.00 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00 0.00
DEBT SERVICE
03-59800-820 INTEREST ON LONG TERM DEB
TOTAL DEBT SERVICE
o
o
TOTAL DEBT SERVICES
o
TOTAL EXPENDITURES
o
o
0.00
0.00
0.00
0.00
0.00
REVENUES OVER/(UNDER) EXPENDITURES
------------ ------------ ------------- ------------- ------------- ------------- -------
------------ ------------ ------------- ------------- ------------- ------------- -------
o
o
10,331.44
41,001.17
0.00
41,001.17)
0.00
~qY~T8~
East Side-West Side-Seas',de Rena',ssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13, 2006
Xi Consent Agenda I
Old Business
New Business
Public Hearing
Other
SUBJECT: Old High School Update
SUMMARY: At the August 8, 2006 CRA Board meeting, staff was directed to enter into a
development agreement with Five Towns College of Dix Hills, NY to establish a local cultural arts
college.
The College reported that after receiving the deal points and the draft lease agreement the
administration took a hard look at the project. The revisions, the passage of time, and College's
emerging local, regional and national needs required an up-to-date review of the financial implications
presented by this project before a recommendation to move forward could be made to the College's
Board of Trustees.
Regretfully, the current economic climate and rising costs associated with an adaptive renovation of this
site make it financially infeasible. The College had concern that the real estate market is unlikely to
rebound in the short term and believes it would be unfair to ask the CRA and people of Boynton Beach
to consider the College as a possible user of the historic high school.
In the short term this may appear to be disappointing; however, in light of the fact that in April the CRA
will select a firm to oversee the Downtown Master Plan project it is apparent that having a larger
footprint on the west end anchor of Ocean A venue may be more beneficial to our future.
Staff is actively talking with folks on the following ideas and will bring these to the board should they
bear fruit:
1.) Artspace - is an organization to create, foster and preserve affordable space for artists and arts
organizations. By creating live/work environments an age-old problem for artists, painters,
sculptors, dancers and others who require an abundance ofIarge productive spaces for the arts.
2.) Brenner Real Estate Group - this was the number two presenter and they remained interested,
BUT without a Charter School concept.
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetingsl07 03 13 CRA Board Meeting - March\Old High School.doc
~qY~T8~
East Side-West S.,de.....Seas.,de Rena'lssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
3.) Airbrushing Artists - have approached CRA staff about creating a "Savage Creatures" aquarium
on the outside of the building; therefore, turning an eyesore into art.
4.) Developers - wanting this site along with City Hall for Office Buildings and/or Workforce Lofts.
Staff will continue to entertain these ideas as we move along in the Master Planning process.
FISCAL IMPACT:
None.
RECOMMENDA TIONS:
None.
I
"
.~--..",,~.
tn.
.I
(..
lAira Bright, Executive Director
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Old High School.doc
~~~~Y~T2~CRA
ill East Side-West Side-Seaside Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
CRA BOARD MEETING OF: MARCH 13, 2007
AGENDA ITEM:
x I Consent Agenda
Old Business
New Business
Public Hearing
Other
SUBJECT: DIVE SHOP LEASE
SUMMARY: Our attorney's have been working for months attempting to iron out an interim lease with
SPLASHDOWN DIVERS, INC. for the rental of the building on 700 Casa Loma Blvd. which the CRA owns. There
are two leases being presented tonight. One lease is for a straight rental, the other is a lease with the taxes
added into the monthly cost in anticipation of our tax liability.
FISCAL IMP ACT: Other than the fact that we are renting below market value there will be no
change in our rents if you choose the lease without the tax component. If however you choose lease #2
the finance department will hold the tax increment portion in our balance sheet and not count it as
revenue. Minor difference.
RECOMMENDA TIONS: Choose the lease that addresses anticipated taxes
T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\0703 13 CRA Board Meeting - March\Monthly Financial report. doc
LEASE WITH ANTICIPATED TAXES
INTERIM LEASE AGREEMENT ,;
THIS INTERIM LEASE AGREEMENT (hereinafter referred to as the "Lease") made
and entered into this day of ,2007, by and between the BOYNTON BEACH
COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter
163, Part III, of the Florida Statutes ("Lessor"), whose address for the purposes hereof is 915 S.
Federal Highway, Boynton Beach, Florida 33435, and SPLASHDOWN DIVERS, INC., a
Florida Corporation ("Lessee"), whose address for the purposes hereof is 700 Casa Loma
Blvd., Boynton Beach, Florida 33435, provides as follows:
1. PURPOSE. The purpose and intent of this Lease is to enter into an interim
agreement prior to and during Lessor's renovations (discussed below) of the Leased Premises
(defmed below). Upon completion of the renovations, Lessor and Lessee agree to negotiate a
longer-term, more specific lease agreement.
2. LEASED PREMISES. Subject to and upon the terms, provisions, covenants and
conditions hereinafter set forth, and each in consideration of the duties, covenants and
obligations of the other hereunder, Lessor does hereby lease, demise and let to the Lessee and
Lessee does hereby lease, demise and let from the Lessor those certain premises at the building
located at 700 Casa Loma Blvd., First Floor (with the exception of the Seamist Office), Boynton
Beach, Florida 33435 (the "Premises" or "Leased Premises" as further described on Exhibit "A"
attached hereto). Lessor shall also lease to Lessee the same boat slip Lessee has been utilizing. A
separate boat slip lease agreement shall be entered into so that the boat slip term coincides with
this Lease Term.
3. TERM. The term of this Lease, and Lessee's obligations under this Lease, unless
otherwise expressly set forth herein, shall commence on April 1, 2007 ("Commencement Date").
Lessee's obligation to pay rent (as defmed below) shall commence on the Commencement Date.
The term of this Lease shall expire on March 3], 2008 (the "Lease Term") unless otherwise
agreed to in writing by the parties.
4. RENOVATIONS. During the Lease Term, Lessee and Lessor agree that
Lessor shall have the right to renovate and/or perform construction upon the Premises. Upon
receipt of a written notice to vacate, Lessee shall have thirty (30) days in which to remove all of
Lessee's items from the Premises. Lessee shall be notified in writing upon completion of
construction by Lessor and be provided with immediate access, or reasonable access as otherwise
set forth within such written notice, to return to the Premises. Lessor shall use its best efforts to
complete said construction within eight months but cannot guarantee this time frame.
5. SECURITY. Upon execution of this Lease Agreement, Lessee has deposited
with Lessor the sum of Two-Thousand Five Hundred Dollars ($2,500.00) as a refundable
security deposit for the performance by Lessee of the terms of this Lease.
6. RENT. During the term of this Lease, the Lessee agrees and covenants to pay to
Lessor rent of One Thousand Five'::Hundred Dollars ($1,500.00) per month plus sales tax,
thereby totaling One Thousand Five Hundred and Ninety-Seven Dollars and Fifty Cents
- 1 -
($] ,597.50) on or before the 10th of each month with a five-day gr~ce period. Checks should be
made out to the "Boynton Beach Community Redevelopment Agency." A late fee of One-
Hundred Dollars ($100.00) shall be applied to any rent payments which are more than five (5)
days late. Lessor reserves the right to increase the rent payment at the end of the Lease Term.
Lessor shall be responsible for the provision and payment of utilities, which includes electricity,
water and garbage pickup. No rental payments shall be due or owing for any period during which
Lessee is out ofthe Leased Premises due to construction or renovations being done by Lessor at
Lessor's request.
6. I Upon completion of said renovations (as referenced in paragraph 4. above),
if the rental square footage is less than on the Commencement Date, then the Rent shall be
reduced in proportion to the area ofthe Leased Premises so taken.
6.2 Lessee shall be responsible for its share of property taxes on the Leased
Premises. The estimated amount oftaxes owed is $167.89 per month based on the square footage
of the Leased Premises. This amount shall be owed each month in addition to the Rent stated
herein. When Lessor receives its official tax bill, if it is determined that the above estimation is
too high, Lessee will be reimbursed by Lessor accordingly. Likewise, if it is determined that the
above estimation is too low, Lessee will owe Lessor the difference.
7. USE. Lessee shall use the Leased Premises for the sole purposes of operating a
full service dive center. Lessee shall comply with all laws, ordinances, rules and regulations
of applicable governmental authorities respecting the use, operation and activities of the Leased
Premises, and the Common Areas, and Lessee shall not make, suffer or permit any unlawful or
improper use of the Leased Premises or Common Areas, or any part thereof
8. COMMON AREAS. The "Common Areas" are defined as the parking areas,
entrances, and all other areas except for the actual Leased Premises and the real property upon
which it is located (as shown on Exhibit A) devoted to the common use of all tenants. Public
parking for use by Lessee and Lessee's customers is provided in the adjacent Marina Village
garage. Lessee may not place any furniture, equipment or any other items in the Common Areas.
9. ALTERATIONS TO THE PREMISES. Lessee shall not make any alteration
or addition to the Leased Premises without first obtaining the express prior written consent of
Lessor.
10. TENANT IMPROVEMENTS. Lessee, at Lessee's expense, may only make
those certain interior leasehold improvements to the Leased Premises in accordance with and
pursuant to plans and specifications approved in writing in advance by Lessor. Any interior
improvements made to the Leased Premises without Lessor's written approval shall constitute a
default of this Lease.
11. ASSIGNMENT. MORTGAGING. SUBLETTING. ATTORNMENT. Lessee
shall not directly or indirectly assign, create a security interest in, pledge, mortgage, or encumber
any legal or equitable interest in the Lease, in whole or in part, or sublet the whole or any part of
- 2 -
the Premises, or permit the use of the whole or any part hereofby ~ license or concessionaire or
any person without frrst obtaining the express prior written approvaI' of Lessor.
12. INSPECTION. The Lessee agrees and covenants that the Lessor, or its agents, at
all reasonable times and upon reasonable notice to the Lessee shall have free access to the
Leased Premises for the purpose of examining or inspecting the condition of the same or of
exercising any right of power of this Lease, or for the purpose of making alterations or repairs to
the Premises of which the Premises are a part or to exhibit said Premises prior to the expiration
of this Lease. Lessee shall provide a set of keys to Lessor for such purposes. Lessor agrees that it
will not unreasonably interfere with the conduct of Lessee's business during such necessary
inspections.
]3. CASUALTY. In the event the Leased Premises shall be destroyed, damaged or
injured by fire or other casualty during the life of this Lease, then the Lessor shall, at Lessor's
option have the right to render the Leased Premises untenantable ninety (90) days therefrom. If
the Leased Premises are not rendered tenantable within said time, or if Lessor shall decide not to
restore the Premises, Lessor shall cancel this Lease, and in the event of such cancellation, the
Rent shall be paid only to the date of such frre or casualty. All costs of casualty repair herein
mentioned shall be paid by Lessor at its own expense unless Lessee caused such destruction,
damage or fire and in that case Lessee shall be fully responsible for all costs associated
therewith. If the Leased Premises are rendered untenantable, and such untenantability continues
for ninety (90) days, Lessee, at Lessee's option may terminate the Lease as of the date of the
casualty occurrence only if the Leased Premises cannot be used for Lessee's intended use. The
cancellation herein mentioned shall be evidenced in writing. Base Annual Rent and Additional
Rent (collectively "Rent") shall not be due and owing for the period of untenantability, however
if the Leased Premises are not untenantable, Rent shall continue to be due and payable.
14. SIGNS. No sign or visual advertisement shall be placed on the exterior of the
Premises (unless already installed on the Premises upon the start of the lease Term) without first
obtaining the express prior written consent of Lessor, however, Lessee shall be entitled to have
signage on the door ofthe Premises consistent with door signage utilized by other tenants and as
approved by Lessor; such signage to be at Lessee's expense.
15. REPAIR. Any and all repairs of whatever kind or nature, the value of which
exceeds $75.00 (Seventy-five dollars) made necessary to the Leased Premises, including, but not
limited to, all electrical, plumbing, heating, air-conditioning and other mechanical installations
therein, and all doors and all plate glass and door window glass, shall be the sole responsibility
of the Lessor and Lessor will use its best efforts to promptly make such repairs upon receipt of
written notice.
16. EVENTS OF DEFAULT. The occurrence of any of the following shall, in
addition to any other events of default provided herein, constitute an event of default hereunder
and the parties shall have all remedies available at law or equity and as set forth herein:
16. I The filing of'a petition by or against Lessee for relief under the
Bankruptcy Code, or' for its reorganization or for the appointment of a receiver or trustee of
- 3 -
Lessee or Lessee's property; or an assignment by Lessee for the ben,efit of creditors; or the taking
possession of the property of Lessee by any governmental officer or agency pursuant to statutory
authority for the dissolution or liquidation of Lessee; or if a temporary or permanent receiver or
trustee shall be appointed for Lessee or for Lessee's property and such temporary or permanent
receiver or Trustee shall not be discharged within ninety (90) days from the date of appointment;
or any other execution, levy, attachment or other process of law upon Lessee's interest in the
leasehold estate or any part thereof; or if any judgment entered against Lessee has not been
satisfied or bonded within ninety (90) days of the date ofthe judgment.
16.2 Failure of Lessee to pay when due without notice any installment of rent
hereunder, or any other sum herein required to be paid by Lessee. Notwithstanding the
foregoing, Lessee shall have fifteen (I5) days to cure after receiving written notice of such
default.
16.3 Failure of Lessee to perform or observe any other agreement or condition
on Lessee's part to be performed or observed as stated herein and Lessee fails to cure such
default within twenty (20) days after the mailing of notice via certified mail of said default by
Lessor.
17. LANDLORD'S REMEDIES. Upon the occurrence of any event or events of
default or other breach of this Lease by Lessee, Lessor shall have the right, at its election, to
cancel and terminate this Lease and dispossess Lessee, but only after giving the Lessee twenty
(20) days written notice to cure any default. Landlord shall have all available remedies at law or
in equity in the event of default.
18. QUIET ENJOYMENT. Upon payment by Lessee of all rent herein provided,
and upon the observance and performance of all terms, provisions, covenants and conditions on
Lessee's part to be observed and performed, Lessee shall, subject to all of the provisions,
covenants and conditions of this Lease, be entitled to peaceably and quietly ho Id and enjoy the
Leased Premises for the term hereby demised. However, Lessee hereby acknowledges that
construction may occur on or around the Leased Premises and therefore, quiet enjoyment may
not be possible during such construction. Any such noise or disruption caused by construction
shall not constitute a default of this Lease.
19. SUBORDINATION. ATTORNMENT. AND ESTOPPEL STATEMENT.
Lessee agrees that this Lease shall be subordinate to any mortgages or trust deeds or any other
security interest which has been or that may hereafter be placed upon the Premises by the Lessor,
and to the interest and all obligations secured by them, and to all renewals, replacements and
extensions of them. The provisions of this paragraph shall be self-operative, but Lessee
covenants and agrees that upon request by Lessor, Lessee shall execute all documents necessary
to evidence its subordinate position regarding this Lease and all of Lessee's rights hereunder.
19.1 If any mortgagee comes into possession or ownership of the Premises, or
acquires Lessor's interest by foreclosure of a mortgage or otherwise, Lessee will attorn to such
mortgagee. r f any mortgagee shall request reasonable modifications to this Lease as a condition
to disbursing any monies to be secured by a mortgage encumbering the Premises, Lessee agrees
- 4 -
that, within fifteen (15) days after such a request from Lessor, Lessee shall execute and deliver to
Lessor an agreement, in form and substance satisfactory to Lessor and to said mortgagee,
evidencing such modifications; provided, however, that such modifications do not increase
Lessee's monetary obligations under this Lease or materially adversely affect Lessee's leasehold
interest granted by this Lease.
19.2 Within fifteen (15) days after request by Lessor or any mortgagee of
Lessor, then Lessee shall deliver in recordable form a statement to Lessor, any such mortgagee
or to such other party as requested by Lessor, certifying that the Lease is in full force and effect,
that Lessee is in possession, that Lessee has commenced the payment of rent, and that there are
no defenses or offsets to the Lease claimed by Lessee, or if claimed, the nature of such defenses
or offsets, and any other information required by Lessor. In addition, Lessee shall provide
Lessor within ten (10) days written notice from Lessor, any and all fmancial information
regarding Lessee and any Guarantors of the Lease which may be reasonably requested by Lessor
or Lessor's mortgagee in connection with any financing or refinancing of the Premises or in
connection with Lessor's due diligence with respect to the financial capacity of Lessee, and the
Guarantor.
20. HAZARDOUS MATERIALS. Lessee shall not store or dispose of any
hazardous material or waste in or about the Premises. Lessee shall indemnify and ho Id Lessor
harmless from and against any claims, damages, costs, expenses or actions which arise out of any
breach of this provision, including any attorneys' fees and costs incurred with respect to same,
and such indemnity shall survive the termination ofthe Lease.
Lessee warrants and represents that it will, during the period of its occupancy of the
Premises under this Lease, comply with all federal, state and local laws, regulations and
ordinances with respect .to the use, storage, treatment, disposal or transportation of Hazardous
Substances. Lessee shall indemnify and hold Lessor harmless from and against any claims,
damages, fines, judgments, penalties, costs, liabilities or losses (including, without limitation,
reasonable attorneys' fees and costs) arising from the breach of the preceding warranty and
representation.
The provisions of this Section shall be in addition to any other obligations or liabilities
Lessee may have to Lessor at law and equity and shall survive termination ofthis Lease.
2 I. BROKERS. Lessor and Lessee each represent and warrant to the other that
neither party has consulted, dealt or negotiated with any real estate broker, salesperson or agent
to whom Lessor agrees to pay a fee pursuant to separate agreement.
22. WAIVERS. The failure of Lessor to insist, in anyone or more instances upon a
strict performance of any of the covenants of this Lease, including the acceptance of a lesser
amount of rent, or to exercise any option or remedy herein contained, shall not be construed as a
waiver or a relinquishment for the future of such covenant, option, or remedy, but the same shall
continue and remain in full force and effect.
- 5 -
23. INDEMNIFICATION. In consideration of sai4 Premises being leased to
Lessee, Lessee agrees: that Lessee, at all times will indemnity and keep harmless Lessor from all
losses, damages, liabilities and expenses, which may arise or be claimed against Lessor and be in
favor of any persons, fIrms or corporations, for any injuries or damages to the person or property
of any person, firms or corporations, consequent upon or arising from the use or occupancy of
said Premises by Lessee, or consequent upon or arising from any acts, omissions, neglect or fault
of Lessee, its agents, servants, employees, licensees, visitors, customers, patrons or invitees, or
consequent upon or arising from Lessee's failure to comply with any laws, statutes, ordinances,
codes or regulations as herein provided; that Lessor shall not be liable to Lessee for any
damages, losses or injuries to the person or property of Lessee which may be caused by'the acts,
neglect, omissions or fault of any persons, firms or corporations, except when such injury, loss or
damages results from gross negligence of Lessor, its agents or employees, and the Lessee will
indemnity and keep harmless Lessor from all damages, liabilities, losses, injuries or expenses
which may arise or be claimed against Lessor and be in favor of any persons, firms or
corporations, for any injuries or damages to the person or property of any person, firms or
corporations, where said injuries or damages arose about or upon said Premises, as a result of the
negligence of Lessee, its agents, employees, servants, licensees, visitors, customers, patrons and
invitees. All personal property placed or moved into the Leased Premises shall be at the risk of
Lessee or the owners thereof, and Lessor shall not be liable to Lessee for any damages to said
personal property.
24. INSURANCE. Lessee shall maintain, with respect to the Leased Premises,
comprehensive general liability insurance with limits of not less than One Million Dollars
($1,000,000.00) for injury or death from one accident. A copy of the policy or a certificate of
insurance shall be delivered to Lessor on or before the commencement date and no such policy
shall be cancelable without ten (10) days prior written notice to Lessor. During any such time
Lessee is required to be out of the Leased Premises at the request of Lessor, Lessor shall be
responsible for payment of comprehensive general liability insurance as set forth within this
paragraph in the form ofreimbursement to Lessee or credit towards Rent.
25. SURRENDER OF PREMISES. Lessee agrees to surrender to Lessor, at the end
of the term of this Lease or any extension thereof, and/or upon any cancellation of this Lease,
said Leased Premises in as good condition as said Leased Premises were at the beginning of the
Term of this Lease, ordinary wear and tear excepted.
26. SUCCESSORS. This Lease shall bind the parties and their assigns or successors,
and their heirs, assigns, administrators, legal representative, executors, or successors as the case
may be of the Lessee.
27. TIME. It is understood and agreed between the parties hereto that time is of the
essence of this Lease and this applies to all terms and conditions contained herein.
28. ACTS OF GOD. ETC. Lessor shall be excused for the period of any delay in the
performance of any obligations hereunder when prevented from so doing by cause or causes
beyond Lessor's reasonable control \:vhich shall include, without limitation, all labor disputes,
civil commotion, ciwil disorder, riot, civil disturbance, war, war-like operations, invasion,
- 6-
rebellion, hostilities, military or usurped power, sabotage, govefnmental regulations, orders,
moratoriums, or controls, fire or other casualty, inability to obtain 'any material, services or acts
of God.
29. NOTICE. Any notice required or permitted to be given under this Lease must be
in writing and may be served and shall be deemed to have been served (i) by depositing same in
the United States mail, addressed to the party to be notified, postage prepaid and registered or
certified with return receipt requested; (ii) by delivering the same in person to the party and
obtaining a receipt therefore; or (iii) by depositing the same into the custody of a nationally
recognized overnight delivery service, addressed to the party to be notified. For pUfposes of
notice, the addresses of the parties shall be as follows:
I f to Lessor to:
With a copy to:
I f to Lessee to:
With a copy to:
Boynton Beach Community Redevelopment Agency
9] 5 S. Federal Highway
Boynton Beach, Florida 33435
Attn: Lisa Bright, Executive Director
Kenneth G. SpiUias, Esq.
Lewis, Longman & Walker, P.A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
Splashdown Divers, Inc.
700 Casa Loma Blvd.
Boynton Beach, Florida 33435
Attn: Lynn Simmons
Ryan Copple, Esq.
712 US Highway 1, Suite 400
North Palm Beach, FL 33408-4521
From time to time either party may designate another address by giving the other party no less
than ten (I 0) days advance notice of such change of address in accordance with the provisions
hereo f.
30. LAWS. This Lease is made under the laws of the State of Florida. Venue for any
action between the parties hereto shall be in Palm Beach County, Florida.
31. AGREEMENT. This Lease contains the entire agreement between the parties
and no amendment or modification of this Lease shall be binding or valid unless expressed in a
separate writing executed by both parties hereto.
32. ATTORNEYS FEES. The prevailing party in any litigation arising from or
related to this Lease shall be entitled to recover its reasonable attorneys' fees and costs at all trial
and appellate levels.
- 7 -
33. RECORDATION. Lessee or Lessor shall not recQrd in any public record this
Lease or any part or memorandum thereof, without the express advance written approval of the
other party.
34. RADON GAS DISCLOSURE. Radon is a naturally occurring radioactive gas
that, when it has accumulated in a building in sufficient quantities, may present health risks to
persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines
have been found in buildings in Florida. Additional information regarding radon and radon
testing may be obtained from your county public health unit.
35. HOLDING OVER. In the event that Tenant or anyone claiming under Tenant
shall continue occupancy ofthe Leased Premises after the expiration of the term of this Lease or
any renewal or extension thereofwithout any agreement in writing between Landlord and Tenant
with respect thereto, such occupancy shall not be deemed to extend or renew the term of the
Lease, but such occupancy shall continue as a tenancy at will, from month to month, upon the
covenants, provisions and conditions herein contained. In such case, the rental shall double the
rental amount in effect during the term of this Lease as extended or renewed, prorated and
payable for the period of such occupancy.
36. INVALIDITY OF PARTICULAR PROVISION. Ifany term or provision of
this Lease or the application hereof to any person or circumstance shall, to any extent, be held
invalid or unenforceable, the remainder of this Lease, or the application of such term or
provision to persons or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be
valid and be enforced to the fullest extent permitted by law, provided five (5) days written notice
of same is provided to Lessee.
37. WASTE. Lessee shall occupy the Leased Premises in a careful and proper
manner and not commit any waste thereon.
38. EFFECTIVE DATE. This Agreement shall be effective on the date that the last
party to sign executes this Agreement, or April 1, 2007, whichever is later (hereinafter "Effective
Date").
39. RIGHT OF FIRST REFUSAL. In further consideration for the execution of
this Lease, Lessor hereby grants to Lessee a first refusal option to lease the Leased Premises at
the conclusion of the Lease, before all others. Such option shall inure to the benefit of Lessee
only and shall expire sixty (60) days after expiration of the Term of this Lease (hereinafter
"refusal option period") if not accepted by Lessee. Prior to the expiration of this Lease, Lessor
shall send written notice to Lessee and her legal counsel, detailing all ofthe terms and conditions
of a new lease for the Leased Premises.
IN WITNESS WHEREOF, the parties hereto have hereunto executed this instrument for
the purpose herein expressed, the day and year fist above written.
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Signed, sealed and delivered
in the presence of:
"
"LESSOR"
BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY
By:
Its:
Print Name:
Date:
"LESSEE"
SPLASHDOWN DIVERS, INC., a
Florida Corporation
By:
Its: President
Print Name: Lynn Simmons
Date:
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EXHIBIT "A"
SURVEY TO BE PROVIDED AND ATTACHED
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EXHIBIT "A"
~_._.__. ----_._-~"- --------..-------..- "---.- .._~----_..._-~--_._-
INTERIM LEASE AGREEMENT;
THIS INTERIM LEASE AGREEMENT (hereinafter referred to as the "Lease") made
and entered into this _ day of ,2007, by and between the BOYNTON BEACH
COMMUNITY REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter
163, Part III, of the Florida Statutes ("Lessor"), whose address for the purposes hereof is 915 S.
Federal Highway, Boynton Beach, Florida 33435, and SPLASHDOWN DIVERS, INC., a
Florida Corporation ("Lessee"), whose address for the purposes hereof is 700 Casa Loma
Blvd., Boynton Beach, Florida 33435, provides as follows:
1. PURPOSE. The purpose and intent of this Lease is to enter into an interim
agreement prior to and during Lessor's renovations (discussed below) of the Leased Premises
(defmed below). Upon completion of the renovations, Lessor and Lessee agree to negotiate a
longer-term, more specific lease agreement.
2. LEASED PREMISES. Subject to and upon the terms, provisions, covenants and
conditions hereinafter set forth, and each in consideration of the duties, covenants and
obligations of the other hereunder, Lessor does hereby lease, demise and let to the Lessee and
Lessee does hereby lease, demise and let from the Lessor those certain premises at the building
located at 700 Casa Loma Blvd., First Floor (with the exception ofthe Seamist Office), Boynton
Beach, Florida 33435 (the "Premises" or "Leased Premises" as further described on Exhibit "A"
attached hereto). Lessor shall also lease to Lessee the same boat slip Lessee has been utilizing. A
separate boat slip lease agreement shall be entered into so that the boat slip term coincides with
this Lease Term.
3. TERM. The term of this Lease, and Lessee's obligations under this Lease, unless
otherwise expressly set forth herein, shall commence on April 1, 2007 ("Commencement Date").
Lessee's obligation to pay rent (as defmed below) shall commence on the Commencement Date.
The term of this Lease shall expire on March 31, 2008 (the "Lease Term") unless otherwise
agreed to in writing by the parties.
4. RENOVATIONS. During the Lease Term, Lessee and Lessor agree that
Lessor shall have the right to renovate and/or perform construction upon the Premises. Upon
receipt of a written notice to vacate, Lessee shall have thirty (30) days in which to remove all of
Lessee's items from the Premises. Lessee shall be notified in writing upon completion of
construction by Lessor and be provided with immediate access, or reasonable access as otherwise
set forth within such written notice, to return to the Premises. Lessor shall use its best efforts to
complete said construction within eight months but cannot guarantee this time frame.
5. SECURITY. Upon execution of this Lease Agreement, Lessee has deposited
with Lessor the sum of Two-Thousand Five Hundred Dollars ($2,500.00) as a refundable
security deposit for the performance by Lessee ofthe terms of this Lease.
6. RENT. During the term of this Lease, the Lessee agrees and covenants to pay to
Lessor rent of One Thousand Five~Hundred Dollars ($1,500.00) per month plus sales tax,
thereby totaling One Thousand Five Hundred and Ninety-Seven Dollars and Fifty Cents
- 1 -
($ I ,597.50) on or before the 10th of each month with a five-day gr~ce period. Checks should be
made out to the "Boynton Beach Community Redevelopment Agency." A late fee of One-
Hundred Dollars ($ 100.00) shall be applied to any rent payments which are more than five (5)
days late. Lessor reserves the right to increase the rent payment at the end of the Lease Term.
Lessor shall be responsible for the provision and payment of utilities, which includes electricity,
water and garbage pickup. No rental payments shall be due or owing for any period during which
Lessee is out ofthe Leased Premises due to construction or renovations being done by Lessor at
Lessor's request.
6.1 Upon completion of said renovations (as referenced in paragraph 4 above),
if the rental square footage is less than on the Commencement Date, then the Rent shall be
reduced in proportion to the area of the Leased Premises so taken.
7. USE. Lessee shall use the Leased Premises for the sole purposes of operating a
full service dive center. Lessee shall comply with all laws, ordinances, rules and regulations
of applicable governmental authorities respecting the use, operation and activities of the Leased
Premises, and the Common Areas, and Lessee shall not make, suffer or permit any unlawful or
improper use of the Leased Premises or Common Areas, or any part thereof
8. COMMON AREAS. The "Common Areas" are defined as the parking areas,
entrances, and all other areas except for the actual Leased Premises and the real property upon
which it is located (as shown on Exhibit A) devoted to the common use of all tenants. Public
parking for use by Lessee and Lessee's customers is provided in the adjacent Marina Village
garage. Lessee may not place any furniture, equipment or any other items in the Common Areas.
9. ALTERATIONS TO THE PREMISES. Lessee shall not make any alteration
or addition to the Leased Premises without frrst obtaining the express prior written consent of
Lessor.
10. TENANT IMPROVEMENTS. Lessee, at Lessee's expense, may only make
those certain interior leasehold improvements to the Leased Premises in accordance with and
pursuant to plans and specifications approved in writing in advance by Lessor. Any interior
improvements made to the Leased Premises without Lessor's written approval shall constitute a
default of this Lease.
11. ASSIGNMENT. MORTGAGING. SUBLETTING. ATTORNMENT. Lessee
shall not directly or indirectly assign, create a security interest in, pledge, mortgage, or encumber
any legal or equitable interest in the Lease, in whole or in part, or sublet the whole or any part of
the Premises, or permit the use ofthe whole or any part hereofby a license or concessionaire or
any person without first obtaining the express prior written approval of Lessor.
12. INSPECTION. The Lessee agrees and covenants that the Lessor, or its agents, at
all reasonable times and upon reasonable notice to the Lessee shall have free access to the
Leased Premises for the purpose of examining or inspecting the condition of the same or of
exercising any right of power of this Lease, or for the purpose of making alterations or repairs to
the Premises of which the Premises are a part or to exhibit said Premises prior to the expiration
- 2 -
of this Lease. Lessee shall provide a set of keys to Lessor for such purposes. Lessor agrees that it
will not unreasonably interfere with the conduct of Lessee's business during such necessary
inspections.
]3. CASUALTY. In the event the Leased Premises shall be destroyed, damaged or
injured by fire or other casualty during the life of this Lease, then the Lessor shall, at Lessor's
option have the right to render the Leased Premises untenantable ninety (90) days therefrom. If
the Leased Premises are not rendered tenantable within said time, or if Lessor shall decide not to
restore the Premises, Lessor shall cancel this Lease, and in the event of such cancellation, the
Rent shall be paid only to the date of such fIre or casualty. All costs of casualty repaIr herein
mentioned shall be paid by Lessor at its own expense unless Lessee caused such destruction,
damage or frre and in that case Lessee shall be fully responsible for all costs associated
therewith. If the Leased Premises are rendered untenantable, and such untenantability continues
for ninety (90) days, Lessee, at Lessee's option may terminate the Lease as of the date of the
casualty occurrence only if the Leased Premises cannot be used for Lessee's intended use. The
cancellation herein mentioned shall be evidenced in writing. Base Annual Rent and Additional
Rent (collectively "Rent") shall not be due and owing for the period of untenantability, however
if the Leased Premises are not untenantable, Rent shall continue to be due and payable.
14. SIGNS. No sign or visual advertisement shall be placed on the exterior of the
Premises (unless already installed on the Premises upon the start of the lease Term) without first
obtaining the express prior written consent of Lessor, however, Lessee shall be entitled to have
signage on the door of the Premises consistent with door signage utilized by other tenants and as
approved by Lessor; such signage to be at Lessee's expense.
15. REPAIR. Any and all repairs of whatever kind or nature, the value of which
exceeds $75.00 (Seventy-five dollars) made necessary to the Leased Premises, including, but not
limited to, all electrical, plumbing, heating, air-conditioning and other mechanical installations
therein, and all doors and all plate glass and door window glass, shall be the sole responsibility
of the Lessor and Lessor will use its best efforts to promptly make such repairs upon receipt of
written notice.
]6. EVENTS OF DEFAULT. The occurrence of any of the following shall, in
addition to any other events of default provided herein, constitute an event of default hereunder
and the parties shall have all remedies available at law or equity and as set forth herein:
16.1 The filing of a petition by or against Lessee for relief under the
Bankruptcy Code, or for its reorganization or for the appointment of a receiver or trustee of
Lessee or Lessee's property; or an assignment by Lessee for the benefit of creditors; or the taking
possession of the property of Lessee by any governmental offIcer or agency pursuant to statutory
authority for the dissolution or liquidation of Lessee; or if a temporary or permanent receiver or
trustee shall be appointed for Lessee or for Lessee's property and such temporary or permanent
receiver or Trustee shall not be discharged within ninety (90) days from the date of appointment;
or any other execution, levy, attachment or other process of law upon Lessee's interest in the
leasehold estate or any part thereof;' or if any judgment entered against Lessee has not been
satisfied or bonded within ninety (90) days of the date of the judgment.
- 3 -
16.2 Failure of Lessee to pay when due without notice any installment of rent
hereunder, or any other sum herein required to be paid by Lessee. Notwithstanding the
foregoing, Lessee shall have fifteen (15) days to cure after receiving written notice of such
default.
16.3 Failure of Lessee to perform or observe any other agreement or condition
on Lessee's part to be performed or observed as stated herein and Lessee fails to cure such
default within twenty (20) days after the mailing of notice via certified mail of said d~fault by
Lessor.
17. LANDLORD'S REMEDIES. Upon the occurrence of any event or events of
default or other breach of this Lease by Lessee, Lessor shall have the right, at its election, to
cancel and terminate this Lease and dispossess Lessee, but only after giving the Lessee twenty
(20) days written notice to cure any default. Landlord shall have all available remedies at law or
in equity in the event of default.
18. QUIET ENJOYMENT. Upon payment by Lessee of all rent herein provided,
and upon the observance and performance of all terms, provisions, covenants and conditions on
Lessee's part to be observed and performed, Lessee shall, subject to all of the provisions,
covenants and conditions of this Lease, be entitled to peaceably and quietly hold and enjoy the
Leased Premises for the term hereby demised. However, Lessee hereby acknowledges that
construction may occur on or around the Leased Premises and therefore, quiet enjoyment may
not be possible during such construction. Any such noise or disruption caused by construction
shall not constitute a default of this Lease.
19. SUBORDINATION. ATTORNMENT. AND ESTOPPEL STATEMENT.
Lessee agrees that this Lease shall be subordinate to any mortgages or trust deeds or any other
security interest which has been or that may hereafter be placed upon the Premises by the Lessor,
and to the interest and all obligations secured by them, and to all renewals, replacements and
extensions of them. The provisions of this paragraph shall be self-operative, but Lessee
covenants and agrees that upon request by Lessor, Lessee shall execute all documents necessary
to evidence its subordinate position regarding this Lease and all of Lessee's rights hereunder.
19. I If any mortgagee comes into possession or ownership of the Premises, or
acquires Lessor's interest by foreclosure of a mortgage or otherwise, Lessee will attorn to such
mortgagee. If any mortgagee shall request reasonable modifications to this Lease as a condition
to disbursing any monies to be secured by a mortgage encumbering the Premises, Lessee agrees
that, within fifteen (15) days after such a request from Lessor, Lessee shall execute and deliver to
Lessor an agreement, in form and substance satisfactory to Lessor and to said mortgagee,
evidencing such modifications; provided, however, that such modifications do not increase
Lessee's monetary obligations under this Lease or materially adversely affect Lessee's leasehold
interest granted by this Lease.
19.2 Within fifteen'(5) days after request by Lessor or any mortgagee of
Lessor, then Lessee shall deliver in recordable form a statement to Lessor, any such mortgagee
- 4 -
or to such other party as requested by Lessor, certifying that the Le~se is in full force and effect,
that Lessee is in possession, that Lessee has commenced the payment of rent, and that there are
no defenses or offsets to the Lease claimed by Lessee, or if claimed, the nature of such defenses
or offsets, and any other information required by Lessor. In addition, Lessee shall provide
Lessor within ten (10) days written notice from Lessor, any and all fmancial information
regarding Lessee and any Guarantors of the Lease which may be reasonably requested by Lessor
or Lessor's mortgagee in connection with any financing or refinancing of the Premises or in
connection with Lessor's due diligence with respect to the fmancial capacity of Lessee, and the
Guarantor.
20. HAZARDOUS MATERIALS. Lessee shall not store or dispose of any
hazardous material or waste in or about the Premises. Lessee shall indemnify and hold Lessor
harmless from and against any claims, damages, costs, expenses or actions which arise out of any
breach of this provision, including any attorneys' fees and costs incurred with respect to same,
and such indemnity shall survive the termination of the Lease.
Lessee warrants and represents that it will, during the period of its occupancy of the
Premises under this Lease, comply with all federal, state and local laws, regulations and
ordinances with respect to the use, storage, treatment, disposal or transportation of Hazardous
Substances. Lessee shall indemnify and hold Lessor harmless from and against any claims,
damages, fines, judgments, penalties, costs, liabilities or losses (including, without limitation,
reasonable attorneys' fees and costs) arising from the breach of the preceding warranty and
representation.
The provisions of this Section shall be in addition to any other obligations or liabilities
Lessee may have to Lessor at law and equity and shall survive termination ofthis Lease.
21. BROKERS. Lessor and Lessee each represent and warrant to the other that
neither party has consulted, dealt or negotiated with any real estate broker, salesperson or agent
to whom Lessor agrees to pay a fee pursuant to separate agreement.
22. WAIVERS. The failure of Lessor to insist, in anyone or more instances upon a
strict performance of any of the covenants of this Lease, including the acceptance of a lesser
amount of rent, or to exercise any option or remedy herein contained, shall not be construed as a
waiver or a relinquishment for the future of such covenant, option, or remedy, but the same shall
continue and remain in full force and effect.
23. INDEMNIFICATION. In consideration of said Premises being leased to
Lessee, Lessee agrees: that Lessee, at all times will indemnify and keep harmless Lessor from all
losses, damages, liabilities and expenses, which may arise or be claimed against Lessor and be in
favor of any persons, frrms or corporations, for any injuries or damages to the person or property
of any person, firms or corporations, consequent upon or arising from the use or occupancy of
said Premises by Lessee, or consequent upon or arising from any acts, omissions, neglect or fault
of Lessee, its agents, servants, employees, licensees, visitors, customers, patrons or invitees, or
consequent upon or arising from Lessee's failure to comply with any laws, statutes, ordinances,
codes or regulations' as herein provided; that Lessor shall not be liable to Lessee for any
- 5 -
damages, losses or injuries to the person or property of Lessee whi~h may be caused by the acts,
neglect, omissions or fault of any persons, firms or corporations, except when such injury, loss or
damages results from gross negligence of Lessor, its agents or employees, and the Lessee will
indemnify and keep harmless Lessor from all damages, liabilities, losses, injuries or expenses
which may arise or be claimed against Lessor and be in favor of any persons, firms or
corporations, for any injuries or damages to the person or property of any person, frrms or
corporations, where said injuries or damages arose about or upon said Premises, as a result ofthe
negligence of Lessee, its agents, employees, servants, licensees, visitors, customers, patrons and
invitees. All personal property placed or moved into the Leased Premises shall be at the risk of
Lessee or the owners thereof, and Lessor shall not be liable to Lessee for any damages to said
personal property.
24. INSURANCE. Lessee shall maintain, with respect to the Leased Premises,
comprehensive general liability insurance with limits of not less than One Million Dollars
($1,000,000.00) for injury or death from one accident. A copy of the policy or a certificate of
insurance shall be delivered to Lessor on or before the commencement date and no such policy
shall be cancelable without ten (10) days prior written notice to Lessor. During any such time
Lessee is required to be out of the Leased Premises at the request of Lessor, Lessor shall be
responsible for payment of comprehensive general liability insurance as set forth within this
paragraph in the form of reimbursement to Lessee or credit towards Rent.
25. SURRENDER OF PREMISES. Lessee agrees to surrender to Lessor, at the end
of the term of this Lease or any extension thereof, and/or upon any cancellation of this Lease,
said Leased Premises in as good condition as said Leased Premises were at the beginning of the
Term ofthis Lease, ordinary wear and tear excepted.
26. SUCCESSORS. This Lease shall bind the parties and their assigns or successors,
and their heirs, assigns, administrators, legal representative, executors, or successors as the case
may be of the Lessee.
27. TIME. It is understood and agreed between the parties hereto that time is of the
essence of this Lease and this applies to all terms and conditions contained herein.
28. ACTS OF GOD. ETC. Lessor shall be excused for the period of any delay in the
performance of any obligations hereunder when prevented from so doing by cause or causes
beyond Lessor's reasonable control which shall include, without limitation, all labor disputes,
civil commotion, civil disorder, riot, civil disturbance, war, war-like operations, invasion,
rebellion, hostilities, military or usurped power, sabotage, governmental regulations, orders,
moratoriums, or controls, fire or other casualty, inability to obtain any material, services or acts
of God.
29. NOTICE. Any notice required or permitted to be given under this Lease must be
in writing and may be served and shall be deemed to have been served (i) by depositing same in
the United States mail, addressed to the party to be notified, postage prepaid and registered or
certified with return receipt requested; (ii) by delivering the same in person to the party and
obtaining a receipt therefore; or (iii) by depositing the same into the custody of a nationally
- 6-
recognized overnight delivery service, addressed to the party to ~e notified. For purposes of
notice, the addresses ofthe parties shall be as follows: '
I f to Lessor to:
With a copy to:
If to Lessee to:
With a copy to:
Boynton Beach Community Redevelopment Agency
915 S. Federal Highway
Boynton Beach, Florida 33435
Attn: Lisa Bright, Executive Director
Kenneth G. Spillias, Esq.
Lewis, Longman & Walker, P.A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
Splashdown Divers, Inc.
700 Casa Lorna Blvd.
Boynton Beach, Florida 33435
Attn: Lynn Simmons
Ryan Copple, Esq.
712 US Highway 1, Suite 400
North Palm Beach, FL 33408-4521
From time to time either party may designate another address by giving the other party no less
than ten (10) days advance notice of such change of address in accordance with the provisions
hereo f
30. LAWS. This Lease is made under the laws of the State of Florida. Venue for any
action between the parties hereto shall be in Palm Beach County, Florida.
3 I. AGREEMENT. This Lease contains the entire agreement between the parties
and no amendment or modification of this Lease shall be binding or valid unless expressed in a
separate writing executed by both parties hereto.
32. ATTORNEYS FEES. The prevailing party in any litigation arising from or
related to this Lease shall be entitled to recover its reasonable attorneys' fees and costs at all trial
and appellate levels.
33. RECORDA TION. Lessee or Lessor shall not record in any public record this
Lease or any part or memorandum thereof, without the express advance written approval of the
other party.
34. RADON GAS DISCLOSURE. Radon is a naturally occurring radioactive gas
that, when it has accumulated in a building in sufficient quantities, may present health risks to
persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines
have been found in buildings in FIO'rida. Additional information regarding radon and radon
testing may be obtained from your county public health unit.
- 7 -
35. HOLDING OVER. In the event that Tenant or anyone claiming under Tenant
shall continue occupancy of the Leased Premises after the expiration of the term of this Lease or
any renewal or extension thereofwithout any agreement in writing between Landlord and Tenant
with respect thereto, such occupancy shall not be deemed to extend or renew the term of the
Lease, but such occupancy shall continue as a tenancy at will, from month to month, upon the
covenants, provisions and conditions herein contained. In such case, the rental shall double the
rental amount in effect during the term of this Lease as extended or renewed, prorated and
payable for the period of such occupancy.
36. INVALIDITY OF PARTICULAR PROVISION. If any term or provision of
this Lease or the application hereof to any person or circumstance shall, to any extent, be held
invalid or unenforceable, the remainder of this Lease, or the application of such term or
provision to persons or circumstances other than those as to which it is held invalid or
unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be
valid and be enforced to the fullest extent permitted by law, provided five (5) days written notice
of same is provided to Lessee.
37. WASTE. Lessee shall occupy the Leased Premises in a careful and proper
manner and not commit any waste thereon.
38. EFFECTIVE DATE. This Agreement shall be effective on the date that the last
party to sign executes this Agreement, or April 1 , 2007, whichever is later (hereinafter "Effective
Date").
39. RIGHT OF FIRST REFUSAL. In further consideration for the execution of
this Lease, Lessor hereby grants to Lessee a first refusal option to lease the Leased Premises at
the conclusion of the Lease, before all others. Such option shall inure to the benefit of Lessee
only and shall expire sixty (60) days after expiration of the Term of this Lease (hereinafter
"refusal option period") if not accepted by Lessee. Prior to the expiration of this Lease, Lessor
shall send written notice to Lessee and her legal counsel, detailing all of the terms and conditions
of a new lease for the Leased Premises.
IN WITNESS WHEREOF, the parties hereto have hereunto executed this instrument for
the purpose herein expressed, the day and year fist above written.
Signed, sealed and delivered
in the presence of:
"LESSOR"
BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY
By:
Its:
Print Name:
- 8 -
- 9 -
Date:
"LESSEE"
SPLASHDOWN DIVERS, INC., a
Florida Corporation
By:
Its: President
Print Name: Lynn Simmons
Date:
EXHIBIT "A"
SURVEY TO BE PROVIDED AND ATTACHED
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EXHIBIT "All
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~~~C?:Y~T2~CRA
iIIi East Side-West Side-Seaside Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
CRA BOARD MEETING OF: MARCH 13, 2007
AGENDA ITEM:
x I Consent Agenda
Old Bnsiness
New Business
Public Hearing
Other
SUBJECT: SUPPORT OF LOCAL ARTISTS
SUMMARY: One of the Agency's initiatives is to support local businesses, as well as the Art in Public
Places itinatives. As such, the Agency looked for local artists to furnish its offices located at 915 South
Federal Highway. The Agency sought typical "floribbean" art, and also art that had its roots in the local
culture. The Agency, through a broker, found two Haitian Artists that fulfilled part ofthat objective. Two
murals were painted in the office, and several pieces oflocal art, done by other artists, were purchased to
create an upbeat, cultural focus for the Agency. No T.I.F. dollars were used to purchase this art;
however, proceeds from the marina boat slip rentals did provide a means to accomplish the acquisitions.
Ultimately, all the portable art will belong to the City.
FISCAL IMP ACT: As of July 2006 the eRA had received over $ 30,000.00 of unbudgeted marina
revenue, thus making the expenditure of $15,000.00 of art equal no significant fiscal impact.
RECOMMENDA TIONS: Approve the actions of staff
tLH- AL
ROBERT T. REARDON, ASSIST. DIRECTQR
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Purchase of Art for the Agency.doc
, Yta
.~
~~~<!Y~T2~ C .
. East Side"'West S"lde"'Seas"lde Renaissance
2/8/2007
Dufresne & Associates, CPA, P A,
357 Stiles A venue
PO Box 1179
Orange Park, FL 32073
Dear Linda:
Thank you for the fiscal year 2005-2006 report. After reading it I discovered the necessity to
explain the art purchased by the Agency to display in our office. Please let me try and outline
why the art was purchased, as follows:
1. One of the Agency's initiatives is to support local businesses. As such, we looked
for local artists to furnish our offices with typical "Floribbean" art. We found two
Haitian Artists that fulfilled that objective.
2. We funded the art purchases with revenue earned from the Marina slip rentals;
thus no T.I.F. funds were involved.
We will memorialize these purchases with a consent agenda item that will be presented to the
Board at our March 13, 2007 meeting. That item will basically outline what I have stated
above. As all ofthe Board, and much of the walk in traffic to our office, has admired the art,
I have no doubt that the item will garner the full support of the Board.
I will forward a copy of the item and the accompanying minutes when we have the March
meeting.
Very truly yours,
Robert T. Reardon,
Assistant Director
JJoynton Beach
Community Redevelopment Agency
915 South Federal Highway
Boynton Beach, FL 33435
Office: 561-737-3256 Fax: 561-737-3258
~<tY~T2~
East Side-West Side-Seas'lde Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: March 13, 2007.
AGENDA ITEM: Approval to donate $1,000 from the Board's Fund to Boynton Beach's Sister
City - Eleuthera Bahamas.
x I Consent Agenda
Old Business
New Business
Public Hearing
Other
SUBJECT:
Approval to donate $1,000 from the Board's Fund to
Boynton Beach's Sister City - Eleuthera Bahamas.
SUMMARY:
Note: the funds will support the purchase of a tractor to
clear the outgrown land in the Town of Bannerman.
FISCAL IMPACT:
$1,000.00 from the Board's Fund # 51010.203 Donations
and Support.
Lea . Ford
ministrative Services Manager/Executive Assistant
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 0313 CRA Board Meeting - March\Funding for Sister City - Eleuthera Bahamas.doc
FebruclYtj 23" 2007
To:
FroVVL:
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It WLAS, GertLA~V'vLtj Cl pLeCls,ure to VVLeet w~tVl tjou ~V'v refereV'vGe to our
FVlNDRAISINC; ClV'vd DONATIONS for tVle Clbove VVLeV'vHoV'ved.
It g~ves. our COVVLVVL~ttee" TVle lSLAVlClVVLLAS. ClV'vd 'fSotjV'vtoV'v lSeLAGVI tVie
true s.p~r~t of Cl H-eLp~V'vg ViLAV'vd. we ClS. Cl T5AM Clre prepLAred to do
our bes.t to our eGOV'vOVVL~G food LA V'vd bus.~V'ves's. pLLA V'v eV'vdeLAvor.
As. VVLeV'vHoV'ved" our f~rs.t pr~eGt ~s. to pUrGVlCls,e Cl TrClGtor to GLeCl r
tVie out growV'v LClV'vd ~V'v 'fSLAV'vV'verVVLClII\, Towll\,,, wViere tViere ~s. LAII\,
Cl bCl V'vdoV'v SGVlooL LA II\,d GVlUrGVl" Cl V'vd LCl V'vd tVlLAt w~LL be GuLHvClted.
Mr. nLLVVLClV'v" ClV'vtj VVLoV'vetClrtj dOIl\,ClHolI\,s. tjou GLAV'v LAs's.~s.t us. W~tVl
or g~ve tVle orgClV'v~ZClHoV'v" we VlUVVLbLtj ClppreG~lilte ~t.
CG: TrLAGetj
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East Side....West S.'de....Seas.'de Renaolssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: March 13,2007.
AGENDA ITEM:
Approval to purchase a Table for the Annual Award Dinner - Boynton
Beach Faith Based CDC.
x I Consent Agenda
Old Business
New Business
Public Hearing
Other
SUBJECT:
Approval to purchase a Table for the Annual Awards
Dinner - Boynton Beach Faith Based CDC.
SUMMARY:
Note: the funds support the CDC's Affordable Housing
Development, Neighborhood Preservation Initiative and
Peacemakers Youth Program.
FISC~ IMPACT: $800.00 for Table Purchase.
/
I
~OMMENDATlONS: Board direction.
(
Leah
A<fmini trative Services Manager/Executive Assistant
"
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda 'tern Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 01 09 CRA Board Meeting - January\Table Purchase for MLK Event _ LVF.doc
~
BOYNTON BEACH FAITH BASED COMMUNITY DEVELOPMENT CORPORATION
POST OFFICE BOX 337 . BOYNTON BEACH, FL 33425-0337 . PALM BEACH COUNTY
PHONE (561) 752-0303 . FAX (561) 752-0302
February 15, 2007
Ms. Lisa Bright
Executive Director
Boynton Beach eRA
915 South Federal Hwy
Boynton Beach, FI. 33435
Dear Ms. Bright::
The Boynton Beach Faith Based CDC is pleased to announce its Fourth Annual Community Awards
Dinner on June 06, 2007. We invite Boynton Beach CRA to be a sponsor of the dinner. We have three levels of
sponsors:
. Platinum, $5,500 - name with logo will appear in all advertisement and the invitations, special recognition
at the dinner, including name and logo on the program and on the banner, and one table of 10 at the
event;
. Gold, $3500 - name with logo will appear in all advertisement and the invitations, recognition at the
dinner, including name and logo on the program and on the banner, and one table of 10 at the event; and
. Silver, $1,500 - name will appear in all advertisement and the invitations, recognition at the dinner,
including name on the program and on the banner, and one table of 10 at the event.
Tables of 10 will also be available for $800. The price of an individual seat is $100.
Funds from the event will be targeted toward our Affordable Housing Development and Neighborhood
Preservation Initiative and our Peacemakers youth program. Peacemakers is a comprehensive before and after
school program that serves 40 elementary school children. The program includes mentoring, recreation and
tutoring. Student records are maintained and tracked. Peacemakers is a partnership program between the CDC
and two neighborhood schools in Boynton Beach.
The Boynton Beach Faith Based CDC is a 501 (c) 3 organization. It was incorporated in late 1999 and received
the IRS status in October 2000. The CDC was founded to improve the quality of life of the residents of Boynton
Beach through economic development and the development and promotion of affordable housing and a variety
of community service activities. Please contact me if you require further information about the Boynton Beach
Faith Based CDC or the event Thank you for your consideration.
Gero~~~~well
1 /.-// ~...~
'. ././'~ - ./ ~
,>::le..,q .c{f ~L/ / -
Interim ~xecutive Director
FEB-27-2007 16:47 From:
To:4098#2419#000#737325 P.2/2
ItJj ;;iJi'j 3QVNTON eRA
~ "i'iiil3 t' A'e PH,
iii East Side-West Side-Seaside Renaissance
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: MARCH 13, 2007
A(;II:NUA ITKM:
I x I Consent Agenda
Old 811l:lin~
New 8usiness
Public Hearing
Other
SUB,JECT: ALLOWING ELECTRONIC }'UNDS TRA NSFERS "EFT"
SUMMARY: A Resolution is needed to grant permission to the Finance Director to employ EFT for regular
monthly payments necessary to satisfy Agency business. Such payments are time sensitive and roquire action at a
proscribed date each month irrespective of Board meetings.
FISCAL ,I"M.PACT: Timely payments allow the Agency to avoid late fees which save money and time.
RECOMMENDA TIONS: Approve
..#d~
ROUERT T. REARDON, ASSIST. DIRECTOR
C:\Documents and Settlnoo\adukell\loc!ll SettinQs\Temporarv Internet Files\EFT Reimbursomants.doe
RESOLUTION NO. 06 - 06
A RESOLUTION OF THE BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY ("CRA"), TO SET AND AUTHORIZE
REIMBURSEMENT TO THE RELATED GROUP OF FLORIDA ("TRG") AND
MANSFIELD OIL COMPANY, INC. ("MANSFIELD") FOR MONTHL Y
AUTOMATIC WITHDRAWAL ELECTRONIC FUNDS TRANSFER TO PAY
THE CRA MARINE VESSEL FUELING COSTS AT THE CRA MARINA, AND
THE MORTGAGE ON THE NEWLY- ACCQUIRED COMMERCIAL
PROPERTY BEGINNING MARCH 14, 2007; PROVIDING FOR REPEAL IN
THE EVENT OF CONFLICTS; PROVIDING FOR SEVERABILITY;
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the CRA has entered into a mortgage with THE RELATED GROUP OF
FLORIDA, INC., 3 I 5 SOUTH BISCA YNE BLVD, MIAMI, FL 33131 to amortize the $2,000,000.00
loan on the newly-acquired commercial property described as PCN 08-43-45-27-60-003-0000; and
WHEREAS, the CRA has continued the fueling agreement with MANSFIELD OIL
COMPANY, INC, 1025 AIRPORT P ARKW A Y, GAINESVILLE, FL 3050 I that existed at the time of
the property transfer from the TRG to the CRA to supply gasoline and diesel fuel to the newly-acquired
commercial property marine fueling station; and
WHEREAS, it is necessary for the CRA to pay TRG $46,058.59 per month, by the 25th of each month,
to satisfy the CRA's mortgage commitment per the attached Exhibit "A"; and
WHEREAS, it is also necessary for the CRA to pay MANSFIELD for the fuel delivered to the fueling
station shortly after each delivery to optimize the price per gallon cost to the CRA; and
WHEREAS, the CRA has determined that monthly payments can be achieved on a timely basis if
automatic withdrawal electronic funds transfers (EFT) are employed; and
WHEREAS, the CRA wishes to utilize EFT from the General Fund Sun Trust main operating account
for all amortized mortgage payments to TRG; and
WHEREAS, the Agency wishes to utilize EFT from the newly established Marina Operating account
for all gasoline and diesel purchases from MANSFIELD.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY:
SECTION 1. CRA authorizes the Executive Director and the Director of Finance to pay the
48 monthly mortgage payments of $46,058.59 to TRG on or about the 25th day of each month for the
duration of the mortgage, and to pay MANSFIELD for the delivery of gasoline and diesel fuel utilizing
the account created for that purpose.
SECTION 2. Nothing contained herein shall be deemed to extend any rights to Waypoint
Marine, Inc., or any other party or pr6vider of services or goods, to the method of payment herein
authorized or to prevent the CRA, through its duly authorized agents and employees, to choose a form
of payment different from that authorized herein, nor shall anything contained herein constitute
authorization by or the consent of the CRA to payment of any amoUl1.ts to Waypoint Marine, Inc., or
any other party or provider of services or goods where such payment IS not duly and properly due and
owing pursuant to the agreed upon provision of goods and/or services.
SECTION 3. If any clause, section, other part or application of this Resolution
is held by any court of competent jurisdiction to be unconstitutional or invalid, in part
or application, it shall not affect the validity of the remaining portions or applications of
this Resolution.
SECTION 4. All resolutions or parts of resolutions in conflict herewith are hereby repealed to
the extent of such conflict.
SECTION 5. This resolution shall become effective immediately upon its passage and
adoption.
Board Member offered the foregoing Resolution and moved its adoption. The
motion was seconded by Board Member and upon being put to a vote, the vote was as
follows:
HENDERSON TILLMAN, Chair
STORMET NOREM, Vice-Chair
JEANNE HEA VILIN, Board Member
GUARN SIMMS, Board Member
LANCE CHANEY, Board Member
MARIE HORENBURGER, Board Member
STEVE MYaTT, Board Member
The Chairperson thereupon declared this Resolution approved and adopted by the CRA Board
of the Boynton Beach Community Redevelopment Agency, Boynton Beach, Florida, this 13th day of
March, 2007.
By:
Henderson Tillman, Chairperson
BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY
Legal in form and valid if enacted:
Kenneth Spillias
CRA Attorney
2
LOAN AMOUNT $ 2,000,000.00
ANNUAL INTEREST RATE 5.00%
.~ DATE 1/25/2007
PAYMENT FREQUENCY MONTHLY
NUMBER OF PAYMENTS 48
PERIODIC PAYMENT $ 46,058.59
EXHIBIT "A"
MARINA COMMERCIAL LOT PURCHASE
Fiscal Year Due Date Payment Principal Interest Balance Number
Initial 1/25/2007 $ 2,000,000.00
2006-2007 2/25/2007 $ 46,058.59 $ 37,725.26 $ 8.333.33 $ 1,962,274.74 1
2006-2007 3/25/2007 46,058.59 37,882.45 8,176.14 $ 1,924,392.29 2
2006-2007 4/25/2007 46,058.59 38,040.29 8,018.30 $ 1,886,352.00 3
2006-2007 5/25/2007 46,058.59 38,198.79 7,859.80 $ 1,848,153.21 4
2006-2007 6/25/2007 46,058.59 38,357.95 7,700.64 $ 1,809,795.26 5
2006-2007 7/25/2007 46,058.59 38,517.78 7,540.81 $ 1,771,277.48 6
2006-2007 8/25/2007 46,058.59 38,678.27 7,380.32 $ 1,732,599.21 7
2006-2007 9/25/2007 46,058.59 38,839.43 7,219.16 $ 1,693,759.78 8
TOTALS $ 368,468.72 $ 306,240.22 $ 62,228.50
2007-2008 10/25/2007 $ 46,058.59 $ 39,001 .26 $ 7,057.33 $ 1,654,758.52 9
2007-2008 11/25/2007 46,058.59 39,163.76 6,894.83 $ 1,615,594.76 10
2007-2008 12/25/2007 46,058.59 39,326.95 6,731.64 $ 1,576,267.81 11
2007-2008 1/25/2008 46,058.59 39,490.81 6,567.78 $ 1,536,777.00 12
2007-2008 2/25/2008 46,058.59 39,655.35 6,403.24 $ 1,497,121.65 13
2008 3/25/2008 46,058.59 39,820.58 6,238.01 $ 1,457,301.07 14
2uu(-2008 4/25/2008 46,058.59 39,986.50 6,072.09 $ 1,417,314.57 15
2007-2008 5/25/2008 46,058.59 40,153.11 5,905.48 $ 1,377,161.46 16
2007-2008 6/25/2008 46,058.59 40,320.42 5,738.17 $ 1,336,841.04 17
2007-2008 7/25/2008 46,058.59 40,488.42 5,570.17 $ 1,296,352.62 18
2007-2008 8/25/2008 46,058.59 40,657.12 5,401.47 $ 1,255,695.50 19
2007-2008 9/25/2008 46,058.59 40,826.53 5,232.06 $ 1,214,868.97 20
TOTALS $ 552,703.08 $ 478,890.81 $ 73,812.27
2008-2009 10/25/2008 $ 46,058.59 $ 40,996.64 $ 5,061.95 $ 1,173,872.33 21
2008-2009 11/25/2008 46,058.59 41,167.46 4,891.13 $ 1,132,704.87 22
2008-2009 12/25/2008 46,058.59 41,338.99 4,719.60 $ 1,091,365.88 23
2008-2009 1/25/2009 46,058.59 41,511.23 4,547.36 $ 1,049,854.65 24
2008-2009 2/25/2009 46,058.59 41,684.20 4,374.39 $ 1 ,008,170.45 25
2008-2009 3/25/2009 46,058.59 41,857.88 4,200.71 $ 966,312.57 26
2008-2009 4/25/2009 46,058.59 42,032.29 4,026.30 $ 924,280.28 27
2008-2009 5/25/2009 46,058.59 42,207.42 3,851.17 $ 882,072.86 28
2008-2009 6/25/2009 46,058.59 42,383.29 3,675.30 $ 839,689.57 29
2008-2009 7/25/2009 46,058.59 42,559.88 3,498.71 $ 797,129.69 30
2008-2009 8/25/2009 46,058.59 42,737.22 3,321.37 $ 754,392.47 31
2008-2009 9/25/2009 46,058.59 42,915.29 3,143.30 $ 711,477.18 32
TOTALS $ 552,703.08 $ 503,391.79 $ 49,311.29
3
Fiscal Year Due Date Payrnent Principal Interest Balance Nurnber
2009-2010 10/25/2009 $ 46,058.59 $ 43,094.10 $ 2,964.49 $ 668,383.08 33
2009-2010 11/25/2009 46,058.59 43,273.66 2,784.93 $ 625,109.42 34
2009-2010 12/25/2009 46,058.59 43,453.97 2,604.62 $ 581,655.45 35
'-2010 1/25/2010 46,058.59 43,635.03 2,423.56 $ 538,020.42 36
..1-2010 2/25/2010 46,058.59 43,816.84 2,241.75 $ 494,203.58 37
2009-2010 3/25/2010 46,058.59 43,999.41 2,059.18 $ 450,204.17 38
2009-2010 4/25/2010 46,058.59 44,182.74 1,875.85 $ 406,021.43 39
2009-2010 5/25/2010 46,058.59 44,366.83 1,691.76 $ 361,654.60 40
2009-2010 6/25/2010 46,058.59 44,551.70 1,506.89 $ 317,102.90 41
2009-2010 7/25/2010 46,058.59 44,737.33 1,321.26 $ 272,365.57 42
2009-2010 8/25/2010 46,058.59 44,923.73 1,134.86 $ 227,441.84 43
2009-2010 9/25/2010 46,058.59 45,110.92 947.67 $ 182,330.92 44
TOTALS $ 552,703.08 $ 529,146.26 $ 23,556.82
2010-2011 10/25/2010 $ 46,058.59 $ 45,298.88 $ 759.71 $ 137,032.04 45
2010-2011 11/25/2010 46,058.59 45,487.62 570.97 $ 91,544.42 46
2010-2011 12/25/2010 46,058.59 45,677.15 381.44 $ 45,867.27 47
2010-2011 1/25/2011 46,058.38 45,867.27 191.11 $ (0.00) 48
TOTALS $ 184,234.15 $ 182,330.92 $ 1,903.23
TOTALS Payment Principal Interest
$ 2,210,812.11 $ 2,000,000.00 $ 210,812.11
4
FEB-27-2007 17:16 From:
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02/23/2007 15:08
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East Sfde"'WestSide"'Seasldc Renaibilncs
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13, 2007
~ ITEM: Approval to Purchase Pro~es located at NE 5th Avenue
LL~eut Axe.. I X I Old BIlIfnMI IT - New Bum..
SUBJECT: Aft'otdable Housing Devclopmtmt
PubBcB~
0tl1er1
/.....
SVMl\fARY:
At the 1anuary 2007 CRA Board m~ ~ Board dircletcd Btaffto begin negotiations with the o~
of fivCi nmdemi.aJ properties located at NE 5th A vmuc. The purpose being to oreate a bqcr
development area for a futute workforce hoUldng development in p~p with the B~ton BeBLIh
Faith Bued Community Developmcmt C~ The additloa of this property will pcmnt the
co.nst:nrotion of 16 miditional units for Zl total of 40 uniw.
The property ~pprai8ed at $820,000. Tho owner has agreed to Bell for $825,000. The CDC has vetha11y
agrec;ci to purohasc the pmpc11y from the eRA for one half of the purchase i'rlce due upon the elating of
the oonstruction 10m. 1ha property, along with the Robinson property will be held by the CRA until that
time.
FISCAL IMPACT:
$825.000 plus oustommy clOlilmg Cl05ts of approximately $5.000, The funds will come from Bond IT
proceeds.
lU~COMMENDATIONS=
/...
A~vethe purchase agrccmcntbetw=D tbeCRAond BrlanRusao for 118~ 122, ]36~ 140 and 144NE
S Aveaue in the amOUnt of $825,000. .
1L'fJt~ , .
eRA Placning Director
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PURCHASE AGREEMENt
This Purchase Agreement (hereinafter "Agreement") is made and entered into as of the
Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of
the Florida Statutes (hereinafter "CRA") and BRIAN RUSSO, (hereinafter "SELLER~').
In consideration ofthe mutual covenants and agreements herein set forth, the Parties hereto agree
as follows:
1. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to
CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions
hereinafter set forth, the Property located in Palm Beach County, Florida (the "Property") and
more particularly described as follows:
SEE EXHIBIT "A"
2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the
Property shall be Eight Hundred Twenty-Five Thousand ($825,000.00) Dollars, payable in cash,
by wire transfer of United States Dollars at the Closing.
,......
3.
DEPOSIT.
3.1 Earnest Money Deposit. Within three (3) Business Days after the
Effective Date, Purchaser shall deliver to Lewis, Longman & Walker, P.A.("Escrow Agent") a
deposit in the amount ofTen Dollars ($10.00) Dollars (the "Deposit").
3.2 Application/Disbursement of Deposit. The Deposit shall be applied and
disbursed as follows:
The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such
amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period
(hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If
this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be
delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party
shall have such additional rights, if any, as are provided in Section 12.
I......
3.3 Escrow Agent. CRA and SELLER authorize Escrow Agent to receive,
deposit and hold funds in escrow and, subject to clearance, disburse them upon proper
authorization and in accordance with Florida law and the terms of this Agreement. The parties
agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to
CRA and SELLER, unless the mis~elivery is due to Escrow Agent's willful breach of this
Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow,
Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable
PURCHASE AGREEMENT
Page 2 of 13
/' ... attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as
court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated,
so long as Escrow Agent consents to arbitrate.
4. TIME FOR. ACCEPTANCE OF OFFER AND COUNTEROFFERS:
EFFECTIVE DATE. If this Agreement is not executed by and delivered to all parties on or
before March 16, 2007, the Deposit will, at CRA's option, be returned and this offer shall be
deemed withdrawn. Unless otherwise stated, the time for acceptance of any counteroffers shall
be five (5) days from the date the counteroffer is delivered. The date of this Agreement (the
"Effective Date") shall be the date when the last one of the CRA and SELLER has signed or
initialed this offer or the final counteroffer.
5. CLOSING. The purchase and sale transaction contemplated herein shall close on
or before April 13, 2007 (the "Closing"), unless extended by other provisions of this Agreement
or by written agreement, signed by both parties, extending the Closing.
/"
6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to CRA, by
Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined),
valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and
all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions
except only the following (collectively, the "Permitted Exceptions"): (a) general real estate taxes
and special assessments for the year of Closing and subsequent years not yet due and payable;
(b) covenants, conditions, easements, dedications, rights-of-way and matters of record included
on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to
object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof.
f"....
7. Investigation of the Property. During the term of this Agreement ("Feasibility
Period"), CRA, and CRA's agents, employees, designees, Contractors, surveyors, engineers,
architects, attorneys and other consultants (collectively, "Agents"), shall have the right, at CRA's
expense, to make inquiries of, and meet with members of Governmental Authorities regarding
the Property and to enter upon the Property, at any time and from time to time with reasonable
notice to SELLER and so long as said investigations do not result in a business interruption, to
perform any and all physical tests, inspections, and investigations of the Property, including but
not limited to Phase I and Phase II investigations, which CRA may deem necessary. During this
Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this
contract and receive back all Deposits hereunder. If CRA elects to terminate this Agreement in
accordance with this Section, CRA shall: (i) leave the Property in substantially the condition
existing on the Effective Date, subject to such disturbance as was reasonably necessary or
convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall
repair and restore any damage caused to the Property by CRA's testing and investigation; and
(iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's
testing and investigation. CRA hereby agrees to indemnify and hold SELLER harmless from
and against all claims, losses, expenses, demands and liabilities, including, but not limited to,
attorney's fees, for nonpayment for services rendered to CRA (including, without limitation, any
construction liens n;sulting therefrom) or for damage to persons or property (subject to the
limitation on practicability provided above) arising out of CRA' s investigation of the Property.
2
PURCHASE AGREEMENT
Page 3 of 13
/ ... CRA' s obligations under this Section shall survive the termination', expiration or Closing of this
Agreement. However, CRA's indemnification obligations shall not exceed its statutory limits as
provided within Section 768.28, Florida Statutes, and CRA does not waive its sovereign
immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless from and against
all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees,
for nonpayment for services rendered to SELLER or for damage to persons or property (subject
to the limitation on practicability provided above) arising out of CRA's investigation of the
Property. SELLER' obligations under this Section shall survive the termination, expiration or
Closing of this Agreement.
(......
,.....
7.1 Seller's Documents: SELLER shall deliver to CRA the following
documents and instruments within five (5) days of the Effective Date of this Agreement: copies
of any reports or studies (including environmental, engineering, surveys, soil borings and other
physical reports) in SELLER' possession or control with respect to the physical condition of the
Property, if any.
7.2 Title Review. Within ten (10) days of the Effective Date, CRA shall
obtain, at the CRA's expense, from a Title Company chosen by CRA (hereinafter "Title
Company"), a Title Commitment covering the Property and proposing to insure CRA in the
amount of the Purchase Price subject only to the Permitted Exceptions, together with complete
and legible copies of all instruments identified as conditions or exceptions in Schedule B of the
Title Commitment. CRA shall examine the Title Commitment and deliver written notice to
SELLER no later than twenty (20) days after the Effective Date notifying SELLER of any
objections CRA has to the condition of title (hereinafter "CRA Title Objections"). If CRA fails
to deliver the CRA Title Objections to SELLER within the aforesaid review period, title shall be
deemed accepted subject to the conditions set forth in the Title Commitment. If CRA timely
delivers the CRA Title Objections, then SELLER shall have thirty (30) days to diligently and in
good faith undertake all necessary activities to cure and remove the CRA Title Objections
(hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to
be cured and removed, the CRA Title Objections within the Cure Period, to the satisfaction of
CRA, then CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the
Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title
to the Property as of the time of Closing or (iii) 'canceling and terminating this Agreement, in
which case, the Deposit shall be returned to CRA and the Parties shall have no further
obligations or liability hereunder, except for those expressly provided herein to survive
termination of this Agreement.
Prior to the Closing, CRA shall have the right to cause the Title Company to issue
an updated Title Commitment ("Title Update") covering the Property. If any Title Update
contains any conditions which did not appear in the Title Commitment, and such items render
title unmarketable, CRA shall have the right to object to such new or different conditions in
writing prior to Closing. All rights and objections of the Parties with respect to objections
arising from the Title Update shall be the same as objections to items appearing in the Title
Commitment, subject to the provisions ofthis Section.
3
PURCHASE AGREEMENT
Page 4 of 13
/'.... 7.3. Survey Review. CRA, at CRA's expense, rfiay obtain a current boundary
survey (the "Survey") of the Property, indicating the number of acres comprising the Property to
the nearest 1/1 OOth of an acre. If the Survey discloses encroachments on the Property or that
improvements located thereon encroach on setback lines, easements, lands of others or violate
any restrictions, covenants of this Agreement, or applicable governmental regulations, the same
shall constitute a title defect and shall be governed by the provisions of Section 7.3 concerning
title objections.
8. CONDITIONS TO CLOSING. CRA shall not be obligated to cloS'e on the
purchase of the Property unless each of the following conditions (collectively, the "Conditions to
Closing") are either fulfilled or waived by CRA in writing:
8.1. Representations and Warranties. All of the representations and warranties
of SELLER contained in this Agreement shall be true and correct as of Closing.
8.2. Condition of Property. The physical condition of the Property shall be the
same on the date of Closing as on the Effective Date, reasonable wear and tear excepted. Post-
closing, SELLER shall have thirty (30) days to access the property and remove such real and
personal property as approved by the CRA in writing. This provision shall survive closing.
8.3. Pending Proceedings. At Closing, there shall be no litigation or
administrative agency or other governmental proceeding of any kind whatsoever, pending or
/' ... threatened, which has not been disclosed, prior to closing, and accepted by CRA.
8.4. Compliance with Laws and Regulations. The Property shall be in
compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes,
requirements, licenses, permits and authorizations as of the date of Closing.
9. CLOSING DOCUMENTS. The CRA shall prepare, or cause to be prepared, the
Closing Documents set forth in this Section, except for documents prepared by the Title
Company. At Closing, SELLER shall execute and deliver, or cause to be executed and
delivered, to CRA the following documents and instruments:
9.1. Deed. A Warranty Deed (the "Deed") conveying to CRA valid, good,
marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances
and other conditions oftitle other than the Permitted Exceptions.
9.2 Seller's Affidavits. SELLER shall furnish to CRA an owner's affidavit
attesting that, to the best of its knowledge, no individual or entity has any claim against the
Property under the applicable construction lien law; and that there are no parties in possession of
the Property other than SELLER. SELLER shall also furnish to CRA a non-foreign affidavit
with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced
above, the same shall be deemed an uncured title objection.
/ ..... 9.3. . Closing Statement. A closing statement setting forth the Purchase Price,
the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and
4
PURCHASE AGREEMENT
Page 5 of 13
~ ... expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute
and deliver at Closing.
9.4. Corrective Documents. Documentation required to clear title to the
Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions.
9.5. Additional Documents. Such other documents as CRA or the Title
Company may reasonably request that SELLER execute and deliver, and any other documents
required by this Agreement or reasonably necessary in order to close this transaction and
effectuate the terms of this Agreement.
10. PRORA nONS. CLOSING COSTS AND CLOSING PROCEDURES.
10.1. Prorations. Taxes, assessments, rents, interest, insurance and other
expenses of the Property shall be prorated through the day before Closing. CRA shall have the
option of taking over existing policies of insurance, if assumable, in which event premiums shall
be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to
be made through the day prior to Closing. Advance rent and security deposits, if any, will be
credited to CRA. Taxes shall be prorated based upon the current year's tax with due allowance
made for maximum allowable discount. If Closing occurs at a date when the current year's
millage is not fixed and current year's assessment is available, taxes will be prorated based upon
such assessment and prior year's millage. If current year's assessment is not available, then
r .. taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request
of either party, be readjusted upon receipt of tax bill.
10.2. Special Assessment Liens. Certified, confirmed and ratified special
assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending
liens as of Closing shall be assumed by CRA. If the improvement has been substantially
completed as of the Effective Date, any pending lien shall be considered certified, confirmed or
ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or
assessment for the improvement by the public body.
10.3. Closing Costs. All costs' of Closing, including but not limited to
documentary stamps, recording fees, title insurance and courier fees shall be borne by CRA.
10.4 Closing Procedure. CRA shall fund the Purchase Price subject to the
credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute
and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i)
disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up"
Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable
Closing Documents in the appropriate public records.
/
10.5 Existing Mortgages and Other Liens. At Closing, SELLER shall obtain,
or cause to be obtained, satisfaction '.or release of record of all mortgages, liens and judgments
applicable to and encllmbering the Property.
5
PURCHASE AGREEMENT
Page 6 of 13
/' ...
11.
REPRESENT A nONS, COVENANTS AND WARRANTIES.
11.1 Seller's Representations and Warranties. SELLER hereby represents,
covenants and warrants to CRA, as of the Effective Date and as of the Closing Date, as follows:
11.2. Authority. The execution and delivery of this Agreement by SELLER and
the consummation by SELLER of the transaction contemplated by this Agreement are within
SELLER'S capacity and all requisite action has been taken to make this Agreement valid and
binding on SELLER in accordance with its terms. The person executing this Agreement on
behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this
Agreement represents a valid and binding obligation of SELLER.
11.3. Title. SELLER is and will be on the Closing Date, the owner of valid,
good, marketable and insurable fee simple title to the Property, free and clear of all liens,
encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances
of record which will be discharged at Closing).
12. DEFAULT.
12.1. Purchaser's Default. In the event that this transaction fails to close due to
a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph
12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow
/' Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall
have any further obligation or liabilities under this Agreement, except for those expressly
provided to survive the termination of this Agreement; provided, however, that CRA shall also
be responsible for the removal of any liens asserted against the Property by persons claiming by,
through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults,
SELLER will suffer damages in an amount which cannot be ascertained with reasonable
certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent
most closely approximates the amount necessary to compensate SELLER. CRA and SELLER
agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture
prOVISIOn.
12.2. Seller's Default. In the event that SELLER shall fail to fully and timely
perform any of its obligations or covenants hereunder or if any of SELLER'S representations are
untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement,
CRA may, at its option: (1) declare SELLER' in default under this Agreement by notice
delivered to SELLER, in which event CRA may terminate this Agreement and demand that the
Deposit be returned, including all interest thereon if any, in accordance with Section 3 and
neither Party shall have any further rights hereunder or (2) seek specific performance of this
Agreement, without waiving any action for damages.
1''''
12.3. Notice of Default. Prior to declaring a default and exercising the remedies
described herein, the non-defaulting'Party shall issue a notice of default to the defaulting Party
describing the event pr condition of default in sufficient detail to enable a reasonable person to
determine the action necessary to cure the default. The defaulting Party shall have fifteen (15)
6
PURCHASE AGREEMENT
Page 7 of 13
I
/" ... days from delivery of the notice during which to cure the default, provided, however, that as to a
failure to close, the cure period shall only be three (3) Business Days from the delivery of notice.
Both parties agree that if an extension is requested, such extension shall not be unreasonably
withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party
may exercise the remedies described above.
12.4. Survival. The provisions of this Section 12 shall survive the termination
of this Agreement.
13. NOTICES. All notices required in this Agreement must be in writing and shall be
considered delivered when received by certified mail, return receipt requested, or personal
delivery to the following addresses:
If to Seller:
Brian Russo
1301 W. Boynton Beach Blvd., #0-1
Boynton Beach, Florida 33426-3420
If to Buyer:
Boynton Beach Community Redevelopment Agency
639 East Ocean Avenue, Suite 107
Boynton Beach, FL 33435
PH: 561/737-3256
FX: 561/737-3258
"'....
With a copy to:
Kenneth G. Spillias, Esq.
Lewis, Longman & Walker, P .A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
PH: 561/640-0820
FX: 561/640-8202
14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this
Agreement are hereby made binding on, and shall inure to the benefit of, the successors and
permitted assigns of the Parties hereto. SELLER"may not assign its interest in this Agreement
without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall
have the right to assign this Agreement to the City of Boynton Beach (the "City") without the
prior consent of SELLER and the CRA shall be released from any further obligations and
liabilities under this Agreement. The CRA may not assign this Agreement to any other party
without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA
has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in
effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to
time), shall apply.
15. BROKER FEES. SELLER hereby confirms that he has dealt with Frank
Chirkinian, a realtor with Presidential Realty in connection with the transaction contemplated by
J" .... this Agreement. SELLER shall indemnifY, defend and hold harmless the CRA from and against
any and all claims, losses, damages, costs or expenses (including, without limitation, attorney's
7
PURCHASE AGREEMENT
Page 8 of 13
, ... fees) of any kind or character arising out of or resulting from ariy agreement, arrangement or
understanding alleged to have been made by SELLER on its behalf with any broker or finder in
connection with this Agreement. The provisions of this Section shall survive Closing or
termination of this Agreement.
16.0 Environmental Conditions.
16. I. For purposes of this Agreement, pollutant ("Pollutant") shall ~ean any
hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant,
petroleum, petroleum product or petroleum by-product as defined or regulated by environmental
laws. Disposal ("Disposal ") shall mean the release, storage, use, handling, discharge, or disposal of
such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal,
state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions.
16.1.1 As a material inducement to CRA entering into this Agreement, SELLER
hereby warrants and represents the following, as applicable:
(1) That SELLER and occupants of the Property have obtained and are
in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or
contiguous property owned by SELLER, to the best of SELLER' knowledge.
(2) SELLER is not aware nor does it have any notice of any past,
;- .... present or future events, conditions, activities or practices which may give rise to any liability or
form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the
Property. SELLER is not aware nor does it have any notice of any past, present or future events,
conditions, activities or practices on contiguous property that is owned by SELLER which may
give rise to any liability or form a basis for any claim, demand, cost or action relating to the
Disposal of any Pollutant affecting the SELLER property.
(3) There is no civil, criminal or administrative action, suit, claim,
demand, investigation or notice of violation pending or, to the best of that entity's knowledge,
threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the
Property, any portion thereof, or on any contiguous property owned by SELLER.
16.2 Additional Warranties and Re{>resentations of SELLER. As a material
inducement to CRA entering into this Agreement, SELLER, to the best of SELLER' information
and belief, hereby represents and warrants the following:
16.2. I There are no pending applications, permits, petitions, contracts, approvals,
or other proceedings with any governmental or quasi-governmental authority, including but not
limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies,
concerning the use or operation of, or title to the Property or any portion thereof and SELLER has
not granted or is not obligated to grant any interest in the Property to any of the foregoing entities.
f'....
16.2.2 There are no facts believed by SELLER to be material to the use, condition
and operation of the Property in the manner that it has been used or operated, which it has not
8
- - -. - - - --
PURCHASE AGREEMENT
Page 9 of 13
/' disclosed to CRA herein, including but not limited to unrecordedi instruments or defects in the
condition of the Property which will impair the use or operation of the Property in any manner.
16.2.3 To the best of SELLER' knowledge, the Property and the use and operation
thereof are in compliance with all applicable coun~y and governmental laws, ordinances,
regulations, licenses, permits and authorizations, including, without limitation, applicable zoning
and environmental laws and regulations.
16.3 SELLER Deliveries.
SELLER shall deliver to CRA the following documents and instruments within ten
(10) days of the Effective Date of this Agreement, except as specifically indicated:
16.3.1 Copies of any reports or studies (including engineering, environmental, soil
borings, and other physical inspection reports), in SELLER' possession or control with respect to
the physical condition or operation of the Property, if any.
/~
16.3.2 Copies of all licenses, variances, waivers, permits (including but not
limited to all surface water management permits, wetland resource permits, consumptive use
permits and environmental resource permits), authorizations, and approvals required by law or
by any governmental or private authority having jurisdiction over the Property, or any portion
thereof (the "Governmental Approvals"), which are material to the use or operation of the
Property, if any.
16.3.3 Prior to the Closing Date, SELLER shall execute and deliver to CRA any
and all documents and instruments required by CRA, in CRA's sole and absolute discretion,
which: (i) effectuate the transfer to CRA of those Governmental Approvals, or portions thereof
which are applicable to the Property, that CRA desires to have assigned to it, and/or (ii) cause the
Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior
to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the
Governmental Approvals (including but not limited to any and all portions of the surface water
management system, mitigation areas or other items which do not comply with the
Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at
the time of Closing, any unrecorded instruments affecting the title to the Property, including, but
not limited to any conveyances, easements, licenses or leases.
17. MISCELLANEOUS.
17.1. General. This Agreement, and any amendment hereto, may be executed in
any number of counterparts, each of which shall be deemed to be an original and all of which
shall, together, constitute one and the same instrument. The section and paragraph headings
herein contained are for the purposes of identification only and shall not be considered in
construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire
Section, unless otherwise specified. No modification or amendment of this Agreement shall be
of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire
I .... agreement between .the Parties relating to the Property and all subject matter herein and
supersedes all prior and contemporaneous negotiations, understandings and agreements, written
9
PURCHASE AGREEMENT
Page 10 of 13
I'" ... or oral, between the Parties. This Agreement shall be interpreted ih accordance with the laws of
the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising
out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States
District Court for the Southern District Court of Florida.
17.2. Computation of Time. Any reference herein to time periods which are not
measured in Business Days and which are less than six (6) days, shall exclude Saturdays,
Sundays and legal holidays in the computation thereof. Any time period provided for in this
Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5 :00 p.m. on the
next full Business Day. Time is of the essence in the performance of all obligations under this
Agreement. Time periods commencing with the Effective Date shall not include the Effective
Date in the calculation thereof.
17.3. Waiver. Neither the failure of a party to insist upon a strict performance
of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance
of any item by a party with knowledge of a breach of this Agreement by the other party in the
performance of their respective obligations hereunder, shall be deemed a waiver of any rights or
remedies that a party may have or a waiver of any subsequent breach or default in any of such
terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination
of this Agreement and the Closing.
II' .... 17.4. Construction of Agreement. The Parties to this Agreement, through
counsel, have participated freely in the negotiation and preparation hereof. Neither this
Agreement nor any amendment hereto shall be more strictly construed against any of the Parties.
As used in this Agreement, or any amendment hereto, the masculine shall include the feminine,
the singular shall include the plural, and the plural shall include the singular, as the context may
require. Provisions of this Agreement that expressly provide that they survive the Closing shall
not merge into the Deed.
17.5. Severability. If any provision of this Agreement or the application thereof
shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this
Agreement nor the application of the provision to' other persons, entities or circumstances shall
be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The
provisions of this Section shall apply to any amendment of this Agreement.
17.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement
and initialed by CRA and SELLER shall control all printed provisions in conflict therewith.
17.7 Waiver of Jury Trial. As an inducement to CRA agreeing to enter into this
Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by
either party against the other party pertaining to any matter whatsoever arising out of or in any way
connected with this Agreement.
"
/'...
17.8. . Attorneys Fees and Costs. Should it be necessary to bring an action to
enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including
10
PURCHASE AGREEMENT
Page 11 of 13
/ ~ those at the appellate level, shall be awarded to the prevailing party. i
17.9 Binding Authority. Each party hereby represents and warrants to the other
that each person executing this Agreement on behalf of the CRA and SELLER has full right and
lawful authority to execute this Agreement and to bind and obligate the party for whom or on
whose behalf he or she is signing with respect to all provisions contained in this Agreement.
17.10 Recording. This Agreement may be recorded in the Public Records of
Palm Beach County, Florida.
17.11 Survival. The covenants, warranties, representations, indemnities and
undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and
recording of the SELLER Property Deed and CRA's possession of the Property.
17.12 SELLER Attornevs' Fees and Costs. SELLER acknowledges and agrees
that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by
SELLER in connection with the transaction contemplated by this Agreement.
,....
/....
11
/'..
, ...
/'"
PURCHASE AGREEMENT
Page 12 of 13
date.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective
BOYNTON BEACH
COMMUNITY REDEVELOPMENT
AGENCY
By:
Print Name: Henderson Tillman
Title: Chair
Witnesses:
Approved as to form and legal sufficiency:
CRA Attorney
SELLER
Print Name: Brian Russo
Witnesses:
I:\Client Documents\Boynton Beach CRA \pf Russo\Misc\Purchase Agreement.doc
12
PURCHASE AGREEMENT
Page 1 of 13
",.....
EXHIBIT "A"
Lot 7, LESS the West 36.00 feet thereof, and all of Lot 8, in Block 1, of SUNNY-
SIDE ESTATES, according to the Plat thereof, as recorded in Plat Book 26, Page
16, of the Public Records of Palm Beach County, Florida.
AND
Lot 6, LESS the West 12.00 feet thereof, and the West 36.00 feet of Lot 7, in
Block 1, of SUNNY-SIDE ESTATES, according to the Plat thereof, as recorded in
Plat Book 26, Page 16, of the Public Records of Palm Beach County, Florida.
AND
Lot 2, and the West 24.00 feet of Lot 3, in Block 1, of SUNNY-SIDE ESTATES,
according to the Plat thereof, as recorded in Plat Book 26, Page 16, of the Public
Records of Palm Beach County, Florida.
AND
,..
Lot 3, LESS the West 24.00 feet thereof, and the West 48.00 feet of Lot 4, in
Block 1, of SUNNY-SIDE ESTATES, according to the Plat thereof, as recorded in
Plat Book 26, Page 16, of the Public Records of Palm Beach County, Florida.
AND
Lot 4, LESS the West 48.00 feet thereof, all of Lot 5, and the West 12.00 feet of
Lot 6, in Block 1, of SUNNY-SIDE ESTATES, according to the Plat thereof, as
recorded in Plat Book 26, Page 16, of the Public Records of Palm Beach County,
Florida.
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ROBERT B. BANTING, MAl, SRA, PRESIDENT
State-Certified General Real Estate Appraiser RZ4
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. ~~:<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
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FRANK. J. CARDO, MAl, VICE PRESIDENT
State-Certified General Real Estate Appraiser RZ1190
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Appraisers . Realtors >>>>>> >>>>>> >>>:>> >>>>>>>> >>>> >> >>>> >> >>>>>> >>>> >>>>>>>> >>>>>>>>>> >>>>>> >>>>>>>> ;,
52] SOUTH OLIVE AVENUE
WEST PALM BEACH, FLORIDA 33401
www.andersoncarr.com
Telephone (56]) 833-]66]
Fax (56]) 833-0234
February 6, 2007
OQa/ity cBervice &nce 1947
Vivian Brooks
Planning Director
Boynton Beach Community Redevelopment Agency
915 South Federal Highway
Boynton Beach, Florida 33435
Dear Ms. Brooks:
At your request, we have appraised five single family residences located on Northeast 5th
Avenue in central Boynton Beach, Florida. The purpose of this appraisal is to estimate the
market value, fee simple estate of the five subject residences, as of the date of inspection,
February 2, 2007. The intended use of this report is for purchase considerations. The intended
user of this report is the client, the Boynton Beach Community Redevelopment Agency.
/ ....
The five single family residences are all on rectangular shaped parcels and are continuous on
the south side Northeast 5th Avenue just east of North Seacrest Boulevard. Each of the five
parcels contains 6,970 square feet or .16 acres. The total land area for all five parcels is 34,848
square feet or .80 acres.
The properties are located in a redevelopment area and are situated in an area slated for a
mixed use redevelopment project.
We have used the Sales Comparison Approach in valuing the subject properties as they are
single family residences. The Cost and Income Capitalization Approaches are not applicable.
As a result of our analysis, we have developed an opinion that the market value of the five
subject properties (as defined in the report), subject to the definitions, certifications,
assumptions, limiting conditions, as set forth in the attached report, as of February 2, 2007, is
as follows:
........
118 Northeast 5th Avenue:
122 Northeast 5th Avenue:
136 Northeast 5th Avenue:
140 Northeast 5th Avenue:
144 Northeast 5th Avenue:
$ 150,000
$ 170,000
$ 170,000
$ 170,000
$ 160,000
- - - -- --.
.
.
.
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~1)r=l?S{)~ & CAl?l?~ I~C.
Vivian Brooks, Planning Director
Boynton Beach Community Redevelopment Agency
February 6, 2007
The estimate of market value of the fee simple estate for all five of the subject
properties, as of February 2,2007, the date of inspection was:
EIGHT HUNDRED TWENTY THOUSAND DOLLARS
$820,000
The following presents a complete appraisal in a summary report. This letter
must remain attached to the report, which contains 55 pages, in order for the
value opinion set forth to be considered valid. Your attention is directed to the
Assumptions and Limiting Conditions, which follow.
Respectfully submitted,
c-~~
Ko er!. mg, , S -----------
Str~d G~ne:J:::ppraiser R7A
Michelle J. Ja~L)
State-Registered Trainee Real Estate Appraiser RI15929
RBB/MJJ :agp
11
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East Side-West S',de-Seaside Rena'lssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13, 2006
I Consent Agenda I
Old Business
New Business
Public Hearing
Other
SUBJECT:
MLK Corridor Update
SUMMARY: At the February 13, 2006, the City Commission moved to the lead negotiating
position of the Tri-Party agreement between the City, CRA and InTown Partners LLC. The first
meeting was held on February 16th and the developer brought a response draft agreement to the meeting.
Since that time both the City and CRA have prepared responses to the agreement and the City Attorney
will be providing those details to the developer. Additionally, as of to day's date there is no additional
meetings set to further negotiate the agreement.
Treasure Coast Regional Planning Council (TCRPC) has begun working with staff on the market study
update and development program for the area. TCRPC will be on site March 13th and 14th and staff has
requested that they briefly address the board with respect to the scope of work, deliverables, timelines
and to answer any questions.
FISCAL IMPACT:
None.
RECOMMENDA TIONS:
None.
/~
T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\0703 13 CRA Board Meeting - March\MLK CORRIDOR UPDATE.doc
...
EaSt Side"Wen S\deNScllSldG JWnal~llnee
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: March 13.2007
AGENDA ITEM; IX. E.
U- Coutll.t Apnd. I X I . ow Buiae.. I
New~
Pub. H.1IlIQe
otber~
SU&JECT:
COASidemtion ofPurchasfDg Ii Vacant Lot on NW 12th Avel'Iue
SUMMARy: Thill proposed pon:thase f'a11s under the approved Heart ofBo,mo:p. Wade Program.
The 5.000 sq. ft. vacant lot will be used fur the DOI:uaO'1Jction ofa new affimSAble 1riDgl000famityrcsidenoe.
Staff is recomm~ that th.,lot .,., conveyed to Habitat for Humauity since they are oonstruotiq a
home across the ItnzIt. Staft'will brlns IS Ptn:aluwc and Devel~Cl1t Agreemtmt betwem1 Habitat and
the eRA to the April Bomd meethJg.
FISCAL IMPACT:
$70.000 plUfI customary closing cost to come tl'am Bond .rr proClMds.
RECOMMENDATIONS:
A1:lProve the Purchase Agreem=at between V catigueme Piette and the: CRA fur ng,mt property located
at NW 12th Avea.ue h1 the amOUDt oi$70.000.
Viii#'
I, eRA Planning DiMctQr
"'
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T;\AOENDAS, CON5ENT MENDAS. MONTHLY REPOR~ ... IIram ReQUe8t I=Clml. by M~\FY ~o., Ill.",
M"ngsVj703 13 eRA brd Medn; - MarchVlIClrtt L.:lt r-M 12th.doc
2/2'd S2[L[L~b20~61b2~069S:01
:WOJ~ 2[:Sl L002-S0-~~W
PURCHASE AGREEMENT
This Purchase Agreement (hereinafter "Agreement") is made and entered into as of the
Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of
the Florida Statutes (hereinafter "CRA" or "PURCHASER") and VESTIGUERNE PIERRE
(hereinafter "SELLER").
In consideration of the mutual covenants and agreements herein set forth, the Parties her~to agree
as follows:
1. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to
CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions
hereinafter set forth, the Property located in Palm Beach County, Florida (the "Property") and
more particularly described as follows:
Cherry Hills, Boynton Lots 390 & 391, according to the Plat
thereof on file in the office of the Clerk of the Circuit Court in
and for Palm Beach County, Florida, recorded in Plat Book
18133, Page 1171.
PCN: 08-43-45-21-14-000-3900
2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the
Property shall be Seventy Thousand Dollars ($70,000.00), payable in cash, by wire transfer of
United States Dollars at the Closing,
3. DEPOSIT.
3.1 Earnest Money Deposit. Within three (3) Business Days after the Effective Date,
Purchaser shall deliver to Lewis, Longman & Walker, P.A.("Escrow Agent") a deposit in the
amount ofTen Dollars ($10.00) (the "Deposit").
3.1 Application/Disbursement of Deposit. The Deposit shall be applied and
disbursed as follows:
The Deposit shall be delivered to SELLER at Closing and the CRA shall receive credit for such
amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period
(hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If
this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be
delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party
shall have such additional rights, if any, as are provided in Section 12.
3.3 Escrow Agent CRA and SELLER authorize Escrow Agent to receive,
deposit and hold funds in escrow' and, subject to clearance, disburse them upon proper
authorization and in accordance with Florida law and the terms of this Agreement. The parties
PURCHASE AGREEMENT
Page 2 of 12
j
agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to
CRA and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of this
Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow,
Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable
attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as
court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated,
so long as Escrow Agent consents to arbitrate.
4. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS;
EFFECTIVE DATE. If this Agreement is not executed by and delivered to all parties on or
before March 16, 2007, the Deposit will, at CRA's option, be returned and this offer shall be
deemed withdrawn. Unless otherwise stated, the time for acceptance of any counteroffers shall
be five (5) days from the date the counteroffer is delivered. The date of this Agreement (the
"Effective Date") shall be the date when the last one of the CRA and SELLER has signed or
initialed this offer or the final counteroffer.
5. CLOSING, The purchase and sale transaction contemplated herein shall close on
or before April 30, 2007 (the "Closing"), unless extended by other provisions of this Agreement
or by written agreement, signed by both parties, extending the Closing.
6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to CRA, by
Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined),
valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and
all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions
except only the following (collectively, the "Permitted Exceptions"): (a) general real estate taxes
and special assessments for the year of Closing and subsequent years not yet due and payable;
(b) covenants, conditions, easements, dedications, rights-of-way and matters of record included
on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to
object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof.
7.0 Investigation of the Property. During the term of this Agreement ("Feasibility
Period"), CRA, and CRA's agents, employees, designees, Contractors, surveyors, engineers,
architects, attorneys and other consultants (collectively, "Agents"), shall have the right, at CRA's
expense, to make inquiries of, and meet with members of Governmental Authorities regarding
the Property and to enter upon the Property, at any time and from time to time with reasonable
notice to SELLER and so long as said investigations do not result in a business interruption, to
perform any and all physical tests, inspections, and investigations of the Property, including but
not limited to Phase I and Phase II investigations, which CRA may deem necessary. During this
Feasibility Period, CRA may elect, in CRA's sole and absolute discretion, to terminate this
contract and receive back all Deposits hereunder. If CRA elects to terminate this Agreement in
accordance with this Section, CRA shall: (i) leave the Property in substantially the condition
existing on the Effective Date, subject to such disturbance as was reasonably necessary or
convenient in the testing and investigation of the Property; (ii) to the extent practicable, shall
repair and restore any damage caused to the Property by CRA' s testing and investigation; and
(iii) release to SELLER, at no cost, all reports and other work generated as a result of the CRA's
testing and investigation. CRA hereby agrees to indemnify and hold SELLER harmless from
2
PURCHASE AGREEMENT
Page 3 of 12
I
and against all claims, losses, expenses, demands and liabilities, ihcluding, but not limited to,
attorney's fees, for nonpayment for services rendered to CRA (including, without limitation, any
construction liens resulting therefrom) or for damage to persons or property (subject to the
limitation on practicability provided above) arising out of CRA's investigation of the Property.
CRA's obligations under this Section shall survive the termination, expiration or Closing of this
Agreement. However, CRA's indemnification obligations shall not exceed the statutory limits as
described within Section 768,28, Florida Statutes, and CRA does not waive its sovereign
immunity rights. SELLER hereby agrees to indemnify and hold CRA harmless from and against
all claims, losses, expenses, demands and liabilities, including, but not limited to, attorney's fees,
for nonpayment for services rendered to SELLER or for damage to persons or property (subject
to the limitation on practicability provided above) arising out of CRA's investigation of the
Property. SELLER'S obligations under this Section shall survive the termination, expiration or
Closing of this Agreement.
7.1 Seller's Documents: SELLER shall deliver to CRA the following
documents and instruments within five (5) days of the Effective Date of this Agreement: copies
of any reports or studies (including environmental, engineering, surveys, soil borings and other
physical reports) in SELLER'S possession or control with respect to the physical condition of the
Property, if any.
7.2 Title Review, Within ten (10) days of the Effective Date, CRA shall
obtain, at the CRA's expense, from a Title Company chosen by CRA (hereinafter "Title
Company"), a Title Commitment covering the Property and proposing to insure CRA in the
amount of the Purchase Price subject only to the Permitted Exceptions, together with complete
and legible copies of all instruments identified as conditions or exceptions in Schedule B of the
Title Commitment. CRA shall examine the Title Commitment and deliver written notice to
SELLER no later than twenty (20) days after the Effective Date notifying SELLER of any
objections eRA has to the condition of title (hereinafter "CRA Title Objections"). If CRA fails
to deliver the CRA Title Objections to SELLER within the aforesaid review period, title shall be
deemed accepted subject to the conditions set forth in the Title Commitment, If CRA timely
delivers the CRA Title Objections, then SELLER shall have thirty (30) days to diligently and in
good faith undertake all necessary activities to cure and remove the CRA Title Objections
(hereinafter "Cure Period"). In the event that SELLER is unable to cure and remove, or cause to
be cured and removed, the CRA Title Objections within the Cure Period, to the satisfaction of
CRA, then CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the
Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title
to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in
which case, the Deposit shall be returned to CRA and the Parties shall have no further
obligations or liability hereunder, except for those expressly provided herein to survive
termination of this Agreement.
Prior to the Closing, CRA shall have the right to cause the Title Company to issue
an updated Title Commitment ("Title Update") covering the Property. If any Title Update
contains any conditions which did nQt appear in the Title Commitment, and such items render
title unmarketable, C;RA shall have the right to object to such new or different conditions in
writing prior to Closing. All rights and objections of the Parties with respect to objections
3
PURCHASE AGREEMENT
Page 4 of 12
I
arising from the Title Update shall be the same as objections to hems appearing in the Title
Commitment, subject to the provisions of this Section.
7.3. Survey Review, CRA, at CRA's expense, may obtain a current boundary
survey (the "Survey") of the Property, indicating the number of acres comprising the Property to
the nearest 1I100th of an acre, If the .Survey discloses encroachments on the Property or that
improvements located thereon encroach on setback lines, easements, lands of others or violate
any restrictions, covenants of this Agreement, or applicable governmental regulations, the same
shall constitute a title defect and shall be governed by the provisions of Section 7.3 concerning
title objections.
8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the
purchase of the Property unless each of the following conditions (collectively, the "Conditions to
Closing") are either fulfilled or waived by CRA in writing:
8.1. Representations and Warranties. All of the representations and warranties
of SELLER contained in this Agreement shall be true and correct as of Closing.
8.2, Condition of Property, The physical condition of the Property shall be the
same on the date of Closing as on the Effective Date, reasonable wear and tear excepted,
8.3. Pending Proceedings. At Closing, there shall be no litigation or
administrative agency or other governmental proceeding of any kind whatsoever, pending or
threatened, which has not been disclosed, prior to closing, and accepted by CRA.
8.4. Compliance with Laws and Regulations. The Property shall be in
compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes,
requirements, licenses, permits and authorizations as of the date of Closing.
9, CLOSING DOCUMENTS. The CRA shall prepare, or cause to be
prepared, the Closing Documents set forth in this Section, except for documents prepared by the
Title Company. At Closing, SELLER shall execute and deliver, or cause to be executed and
delivered, to CRA the following documents and instruments:
9.1. Deed, A Warranty Deed (the "Deed") conveying to CRA valid, good,
marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances
and other conditions oftitle other than the Permitted Exceptions.
9.2 Seller's Affidavits, SELLER shall furnish to CRA an owner's affidavit
attesting that, to the best of its knowledge, no individual or entity has any claim against the
Property under the applicable construction lien law; and that there are no parties in possession of
the Property other than SELLER. SELLER shall also furnish to CRA a non-foreign affidavit
with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced
above, the same shall be deemed an uncured title objection.
,
9.3. Closing Statement. A closing statement setting forth the Purchase Price,
4
PURCHASE AGREEMENT
Page 5 of 12
I
the Deposit, all credits, adjustments and prorations between eRA' and SELLER, all costs and
expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute
and deliver at Closing.
9.4. Corrective Documents. Documentation required to clear title to the
Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions.
9.5. Additional Documents. Such other documents as CRA or the Title
Company may reasonably request that SELLER execute and deliver, and any other documents
required by this Agreement or reasonably necessary in order to close this transaction and
effectuate the terms of this Agreement.
10. PRORATIONS, CLOSING COSTS AND CLOSING PROCEDURES.
10.1. Prorations. Taxes, assessments, rents, interest, insurance and other
expenses of the Property shall be prorated through the day before Closing. CRA shall have the
option of taking over existing policies of insurance, if assumable, in which event premiums shall
be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to
be made through the day prior to Closing. Advance rent and security deposits, if any, will be
credited to CRA. Taxes shall be prorated based upon the current year's tax with due allowance
made for maximum allowable discount. If Closing occurs at a date when the current year's
millage is not fixed and current year's assessment is available, taxes will be prorated based upon
such assessment and prior year's millage. If current year's assessment is not available, then
taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request
of either party, be readjusted upon receipt of tax bill.
10.2. Special Assessment Liens. Certified, confirmed and ratified special
assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending
liens as of Closing shall be assumed by CRA. If the improvement has been substantially
completed as of the Effective Date, any pending lien shall be considered certified, confirmed or
ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or
assessment for the improvement by the public body.
10.3. Closing Costs, Seller shall pay for all documentary stamps on the deed,
recording the deed and half of all general closing expenses (settlement fee, courier fees,
overnight packages, etc.), All other costs of closing shall be borne by CRA.
10.4 Closing Procedure. CRA shall fund the Purchase Price subject to the
credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute
and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i)
disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up"
Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable
Closing Documents in the appropriate public records.
10.5 .Existing Mortgages and Other Liens. At Closing, SELLER shall obtain,
or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments
5
PURCHASE AGREEMENT
Page 6 of 12
applicable to and encumbering the Property.
11, REPRESENTATIONS, COVENANTS AND WARRANTIES.
11.1 Seller's Representations and Warranties, SELLER hereby represents,
covenants and warrants to CRA, as of the Effective Date and as of the Closing Date, as follows:
11.2. Authority, The execution and delivery of this Agreement by SELLER and
the consummation by SELLER of the transaction contemplated by this Agreement are within
SELLER'S capacity and all requisite action has been taken to make this Agreement valid and
binding on SELLER in accordance with its terms, The person executing this Agreement on
behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this
Agreement represents a valid and binding obligation of SELLER.
11.3. Title. SELLER is and will be on the Closing Date, the owner of valid,
good, marketable and insurable fee simple title to the Property, free and clear of all liens,
encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances
of record which will be discharged at Closing).
12. DEFAULT,
12.1. Purchaser's Default. In the event that this transaction fails to close due to
a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph
12,3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow
Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall
have any further obligation or liabilities under this Agreement, except for those expressly
provided to survive the termination of this Agreement; provided, however, that CRA shall also
be responsible for the removal of any liens asserted against the Property by persons claiming by,
through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults,
SELLER will suffer damages in an amount which cannot be ascertained with reasonable
certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent
most closely approximates the amount necessary to compensate SELLER. CRA and SELLER
agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture
proVIsIOn,
12.2. Seller's Default. In the event that SELLER shall fail to fully and timely
perform any of its obligations or covenants hereunder or if any of SELLER'S representations are
untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement,
CRA may, at its option: (1) declare SELLER'S in default under this Agreement by notice
delivered to SELLER, in which event CRA may terminate this Agreement and demand that the
Deposit be returned, including all interest thereon if any, in accordance with Section 3 and
neither Party shall have any further rights hereunder or (2) seek specific performance of this
Agreement, without waiving any action for damages.
12.3. ,Notice of Default. Prior to declaring a default and exercising the remedies
described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party
6
PURCHASE AGREEMENT
Page 7 of 12
I
describing the event or condition of default in sufficient detail to enable a reasonable person to
determine the action necessary to cure the default. The defaulting Party shall have fifteen (15)
days from delivery of the notice during which to cure the default, provided, however, that as to a
failure to close, the cure period shall only be three (3) Business Days from the delivery of notice.
Both parties agree that if an extension is requested, such extension shall not be unreasonably
withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party
may exercise the remedies described above.
12.4. Survival. The provisions of this Section 12 shall survive the termination
of this Agreement.
13. NOTICES. All notices required in this Agreement must be in writing and shall be
considered delivered when received by certified mail, return receipt requested, or personal
delivery to the following addresses:
If to Seller:
Vestigueme Pierre
962 NW 8th Avenue
Boynton Beach, Florida 33426-2934
PH: 561/503-3201
If to Purchaser:
Boynton Beach Community Redevelopment Agency
915 S. Federal Highway
Boynton Beach, Florida 33435
PH: 561/737-3256
FX: 561/737-3258
With a copy to:
Kenneth G. Spillias, Esq.
Lewis, Longman & Walker, P.A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
PH: 561/640-0820
FX: 561/640-8202
14, BINDING OBLIGATION/ASSIGNMENT, The terms and conditions of this
Agreement are hereby made binding on, and shall inure to the benefit of, the successors and
permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement
without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall
have the right to assign this Agreement to the City of Boynton Beach (the "City") without the
prior consent of SELLER and the CRA shall be released from any further obligations and
liabilities under this Agreement. The CRA may not assign this Agreement to any other party
without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA
has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in
effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to
time), shall apply.
,
15. RISK OF LOSS. In the event the condition of the Property, or any part thereof, is
7
PURCHASE AGREEMENT
Page 8 of 12
j
materially altered by an act of God or other natural force beyond the control of SELLER, CRA
may elect, as its sole option, to terminate this Agreement and the parties shall have no further
obligations under this agreement and all Deposits hereunder shall be refunded to CRA, or CRA
may accept the Property without any reduction in the value of the Property.
16. BROKER FEES, The Parties hereby confirm that neither of them has dealt with
any broker in connection with the transaction contemplated by this Agreement. Each Party shall
indemnify, defend and hold harmless the other Party from and against any and all claims, losses,
damages, costs or expenses (including, without limitation, attorney's fees) of any' kind or
character arising out of or resulting from any agreement, arrangement or understanding alleged
to have been made by either Party or on its behalf with any broker or finder in connection with
this Agreement. The provisions of this Section shall survive Closing or termination of this
Agreement.
17.0 Environmental Conditions.
17.1, For purposes of this Agreement, pollutant ("Pollutant") shall mean any
hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant,
petroleum, petroleum product or petroleum by-product as defined or regulated by environmental
laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of
such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal,
state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions.
17.1.1 As a material inducement to CRA entering into this Agreement, SELLER
hereby warrants and represents the following, as applicable:
(1) That SELLER and occupants of the Property have obtained and are
in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or
contiguous property owned by SELLER, to the best of SELLER' knowledge.
(2) SELLER is not aware nor does it have any notice of any past,
present or future events, conditions, activities or practices which may give rise to any liability or
form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the
Property. SELLER is not aware nor does it have any notice of any past, present or future events,
conditions, activities or practices on contiguous property that is owned by SELLER which may
give rise to any liability or form a basis for any claim, demand, cost or action relating to the
Disposal of any Pollutant affecting the SELLER property.
(3) There is no civil, criminal or administrative action, suit, claim,
demand, investigation or notice of violation pending or, to the best of that entity's knowledge,
threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the
Property, any portion thereof, or on any contiguous property owned by SELLER.
17.2 Additional Warranties and Representations of SELLER. As a material
inducement to CRA entering into this Agreement, SELLER, to the best of SELLER' information
and belief, hereby represents and warrants the following:
8
PURCHASE AGREEMENT
Page 9 of 12
I
17.2.1 There are no pending applications, permits, petitions, contracts, approvals,
or other proceedings with any governmental or quasi-governmental authority, including but not
limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies,
concerning the use or operation of, or title to the Property or any portion thereof and SELLER has
not granted or is not obligated to grant any interest in the Property to any of the foregoing entities.
17.2.2 There are no facts believed by SELLER to be material to the use, condition
and operation of the Property in the manner that it has been used or operated, which it has not
disclosed to CRA herein, including but not limited to unrecorded instruments or defects in the
condition of the Property which will impair the use or operation of the Property in any manner.
17.2.3 To the best of SELLER' knowledge, the Property and the use and operation
thereof are in compliance with all applicable county and governmental laws, ordinances,
regulations, licenses, permits and authorizations, including, without limitation, applicable zoning
and environmental laws and regulations.
17.3 SELLER Deliveries.
SELLER shall deliver to CRA the following documents and instruments within ten
(10) days of the Effective Date of this Agreement, except as specifically indicated:
17.3.1 Copies of any reports or studies (including engineering, environmental, soil
borings, and other physical inspection reports), in SELLER' possession or control with respect to
the physical condition or operation of the Property, if any.
17.3.2 Copies of all licenses, variances, waivers, permits (including but not
limited to all surface water management permits, wetland resource permits, consumptive use
permits and environmental resource permits), authorizations, and approvals required by law or
by any governmental or private authority having jurisdiction over the Property, or any portion
thereof (the "Governmental Approvals"), which are material to the use or operation of the
Property, if any.
17.3.3 Prior to the Closing Date, SELLER shall execute and deliver to CRA any
and all documents and instruments required by CRA, in CRA's sole and absolute discretion,
which: (i) effectuate the transfer to CRA of those Governmental Approvals, or portions thereof
which are applicable to the Property, that CRA desires to have assigned to it, and/or (ii) cause the
Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior
to the Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the
Governmental Approvals (including but not limited to any and all portions of the surface water
management system, mitigation areas or other items which do not comply with the
Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at
the time of Closing, any unrecorded instruments affecting the title to the Property, including, but
not limited to any conveyances, easements, licenses or leases.
18. MISCELLANEOUS..
18.1, General. This Agreement, and any amendment hereto, may be executed in
9
PURCHASE AGREEMENT
Page 10 of 12
I
any number of counterparts, each of which shall be deemed to be" an original and all of which
shall, together, constitute one and the same instrument. The section and paragraph headings
herein contained are for the purposes of identification only and shall not be considered in
construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire
Section, unless otherwise specified. No modification or amendment of this Agreement shall be
of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire
agreement between the Parties relating to the Property and all subject matter herein and
supersedes all prior and contemporaneous negotiations, understandings and agreements, written
or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of
the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising
out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States
District Court for the Southern District Court of Florida.
18.2. Computation of Time. Any reference herein to time periods which are not
measured in Business Days and which are less than six (6) days, shall exclude Saturdays,
Sundays and legal holidays in the computation thereof. Any time period provided for in this
Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. on the
next full Business Day. Time is of the essence in the performance of all obligations under this
Agreement. Time periods commencing with the Effective Date shall not include the Effective
Date in the calculation thereof.
18.3. Waiver. Neither the failure of a party to insist upon a strict performance
of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance
of any item by a party with knowledge of a breach of this Agreement by the other party in the
performance of their respective obligations hereunder, shall be deemed a waiver of any rights or
remedies that a party may have or a waiver of any subsequent breach or default in any of such
terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination
of this Agreement and the Closing.
18.4. Construction of Agreement. The Parties to this Agreement, through
counsel, have participated freely in the negotiation and preparation hereof. Neither this
Agreement nor any amendment hereto shall be more strictly construed against any of the Parties.
As used in this Agreement, or any amendment hereto, the masculine shall include the feminine,
the singular shall include the plural, and the plural shall include the singular, as the context may
require. Provisions of this Agreement that expressly provide that they survive the Closing shall
not merge into the Deed.
18.5. Severability. If any provision of this Agreement or the application thereof
shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this
Agreement nor the application of the provision to other persons, entities or circumstances shall
be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The
provisions of this Section shall apply to any amendment of this Agreement.
18,6 ,Handwritten Provisions. Handwritten provisions inserted in this Agreement
and initialed by CRA and SELLER shall control all printed provisions in conflict therewith.p
10
PURCHASE AGREEMENT
Page 11 of 12
18.7 Waiver of Jury Trial. As an inducement to eRA agreeing to enter into this
Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by
either party against the other party pertaining to any matter whatsoever arising out of or in any way
connected with this Agreement.
18.8. Attorneys Fees and Costs. Should it be necessary to bring an action to
enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including
those at the appellate level, shall be awarded to the prevailing party,
18.9 Binding Authority. Each party hereby represents and warrants to the other
that each person executing this Agreement on behalf of the CRA and SELLER has full right and
lawful authority to execute this Agreement and to bind and obligate the party for whom or on
whose behalf he or she is signing with respect to all provisions contained in this Agreement.
18.10 Recording. This Agreement may be recorded in the Public Records of
Palm Beach County, Florida,
18.11 Survival. The covenants, warranties, representations, indemnities and
undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and
recording of the SELLER Property Deed and CRA's possession of the Property.
18.12 SELLER Attorneys' Fees and Costs. SELLER acknowledges and agrees
that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by
SELLER in connection with the transaction contemplated by this Agreement,
SIGNATURES ON FOLLOWING PAGE
11
PURCHASE AGREEMENT
Page 12 of 12
date.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective
BOYNTON BEACH
COMMUNITY REDEVELOPMENT
AGENCY
By:
Henderson Tillman, Chairperson
Date:
Witnesses:
Print Name
Print Name
Approved as to form and legal sufficiency:
CRA Attorney
T:Development\HOB\Pierre Purchase Agreement.doc
SELLER
Date:
Vestiguerne Pierre
Witnesses:
12
Print Name
Print Name
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SUMMARY APPRAISAL REPORT
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APPRAISAL OF AN R2 ZONED PARCEL
FOR:
LOCATED AT:
NW 12th Avenue
CHERRY HILLS, BOYNTON L TS 390 & 391
Boynton Beach, Florida 33435
.;
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Boynton Beach Community Redevelopment Agency - Alln: Robert T. Reardon
915 South Federal Highway
Boynton Beach, FL 33435
AS OF:
February 27, 2007
I,
BY:
ANDERSON & CARR, INC.
521 South Olive Avenue
West Palm Beach, Florida 33401
561-833-1661
561-833-0234 - FAX
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Form GA5 - 'TOTAL for Windows" appraisal software by a la mode, inc. - 1-800-ALAMODE
ROBERT B. BANTING. MAl. SRA. PRESIDENT
State-Certified General Real Estate Appraiser RZ4
FRANK J. CARDa. MAl. VICE PRESIDENT
State-Certified General Real Estate Appraiser RZ 1190
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521 SOUTH OLIVE AVENUE
WEST PALM BEACH, FLORIDA 33401-5907
www.andersoncarr.com
Telephone (561) 833-1661
Fax (561) 833-0234
March 3, 2007
OQaiIty C3elVice &[}ce 1947
Robert T. Reardon
Boynton Beach Community Redevelopment Agency
915 South Federal Highway
Boynton Beach, Florida 33435
Re: Vacant Residential Lot
NW 12th Avenue
Boynton Beach, Florida 33435
Our File No. 270127.000
Dear Mr. Reardon:
At your request, we have appraised the above referenced property. The purpose of this appraisal was to
estimate the market value of the fee simple estate of the subject property, as of the date of inspection,
February 27,2007.
As a result of our analysis, we have developed an opinion that the market value (as defined in the report),
subject to the definitions, certifications, and limiting conditions set forth in the attached report, as of
February 27, 2007 was:
SIXTY-SIX THOUSAND DOLLARS
($66,000)
The following presents a complete appraisal in a summary report. This letter must remain attached to
the report in order for the value opinion set forth to be considered valid. Your attention is directed to
the Assumptions and Limiting Conditions that follow.
Respectfully submitted,
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Robert B. Banting, MAl, SRA
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State Registered Trainee Appraiser #RI15929
RBB/MJJ
LAND APPRAISAL REPORT
!File No. 270127.000 I
Borrower Boynton Beach Community Redevelopment Agency Census Tract 61.00 Map Reference 100
Property Address NW 12th Avenue .~
City Boynton Beach County Palm Beach State FL Zip Code 33435
Legal Description CHERRY HilLS, BOYNTON L TS 452 & 453 1 c><J Fee o Leasehold o De Minimis Pltn
Sale Price $ Price per SF Date of Sale N/A Loan Term~ yrs. .' Property Rights Appraised
Actual Real Estate Taxes $ 396.35 (yr) Loan charges to be paid by seller $ N/A Other sales concessions N/A
Lender/Client Boynton Beach Community Relocation Agency ^^- Address 915 South Federal Highway Boynton Beach, Fl 33435
Occupant N/A Appraiser Michelle J. Jackson Instructions to Appraiser Land Form Appraisal for Dosslble ac"ulsition by the
CRA of Bovnton Beach Florida.
Location ~ Urban lj Suburban lj Rural Good Avg. Fair Poor
Built Up ~ Over 75% o 25% to 75% o Under 25% Employment Stability O~ 0 0
Growth Rate o Fully Dev. o Rapid o Steady [2<:J Slow Convenience to Employment O~ 0 0
Property Values o Increasing ~ Stable o Declining Convenience to Shopping [2<:J 0 0 0
Demand/Supply o Shortage [2<:J In Balance o Oversupply Convenience to Schools [2<:JO 0 0
Marketing Time o Under 3 Mos. [2<:J 4-6 Mos. DOver 6 Mos Adequacy of Public Transportation ~O DO
Present Land Use ~% 1 Family ~% 2-4 Family ---1.Q% Apts. _ % Condo ~% Commercial Recreational Facilities O~ 0 0
--..Yo Industrial % Vacant 35% Church/SChool/Park Adequacy of Utilities 0 ~ 0 0
Change in Present Land Use o Not Likely --~ Likely (*) o Taking Place (*) Property Compatibility 0 ~ DO
(*) From R2 To R1 Protection from Detrimental Conditions DO [2<:J 0
Predominant Occupancy DOwner ~ Tenant -L% Vacant Police and Fire Protection O~ 0 0
Single Family Price Range $ to $ --~ Predommant Value $ ~- General Appearance of Properties 0 0 0 ~
Single Family Age ~ yrs. to, _ yrs. Predominant Age __ yrs. Appeal to Market 0 0 0 ~
Comments including those factors, favorable or unfavorable. affecting marketability (e.g. public parks. schools, view, noise): Subject pronertv consists of one parcel that
fronts along the south side of NW 12th Avenue 'ust south of the Bovnton Beach Canal rC-161. This canalis the north boundarv of the Heart of Bovnton
Redevelopment Master Plan. Subiect site is vacant land. This is a transitional neiohborhood as the CRA of Bovnton Beach has plans to acouire these
I properties and rezone them allowin" for replattln" and redeveloomenl See General Text Addendum for further exolanation.
Dimensions 50.0' x 102.00' x SO.O' x 102.00'IBased on Plat Map) = 5,100 Sq. Ft or Acres U Comer Lot
Zoning classification R2 - Residential Duplex 19.68 Density Max.) Present Improvements ~ do o do not conform to zoning regulations
Highest and best use o Present use ~ Other (sDecifv\ Future Land Use Plan Indicates R1- Sinole Familv Residence
Public other (Describe) OFF SITE IMPROVEMENTS T opo Level with street Rrade.
Elec. ~ At road front. Street Access ~ Public o Private Size Tvoical for nei"hborhood
Gas 0 None Surface Asphalt Shape Rectangle
Water ~ At road fronl. Maintenance [2<:J Public o Private View Residential
San. Sewer ~ At road front. ~ Storm Sewer o Curb/Gutter Drainage Appears adeouate
0 Underground Elect. & Tel o Sidewalk ~ Street Liahts Is the property located in a HUD Identified Special Flood Hazard Area? ~NoOYes
Comments (favorable or unfavorable including any apparent adverse easements. encroachments, or other adverse conditions): None noted althou"h an Environmental Phase I
survev was not ordered or reviewed bv this appraiser and is bevond the scope of this assi"nment. The sub'ect pronertv Is currentlv in an area of
re-develooment. The Future Land Use Plan has desiRnated this area for residential re-development.
The undersigned has reciled three recent sales ot properties most similar and prOximate to subject and has considered these in the market analysis. The description includes a dollar
adjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. 11 a significant item in the comparable property is superior
to or more favorable than the subject property. a minus (-) adjustment is made thus reducing the indicated value of subject; II a significant item in the comparable is inferior to or less
favorable than the subject property, a plus (+) adjustment is made thus increasing the indicated value of the subject
ITEM SUBJECT PROPERlY COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3
Address NW 12th Avenue 105 NE 11th Avenue 3048 E. Palm Drive 480 Ocean Parkway
Bovnton Beach Bovnton Beach Bovnton Beach Bovnton Beach
Proximitv to Subiect .. 0.45 miles 1.56 miles 1.40 miles
Sales Price 1$ N/A .. . . Is 65 000 ...:. ... 1$ 75,000 h 82 500
Price 1$ N/A Is 1$ I ~
Data Source Public Records, Flies Public Records,Wln2Data Seller MLS 2600005, ISC RealQuest MlS 2600002 JSC RealQuest
Date of Sale and DESCRIPTION DESCRIPTION 1+ (- )$ Adiust. DESCRIPTION 1+(-)$ Adiust DESCRIPTION I + (-)$ Must
Time Adjustment N/A 01/2007 : 03/2006 : -4125 0212006 : -4 950
Location Interior Lot Crnr. Lot/Road Noise : +4 000 Interior Lot/Suoerior : -5000 Interior Lot/Sunerior : -5000
SiteNiew ResidentIal Residential : Residential : Residential
Tract Size/Site Utilitv 5 100 SF +1-1 Average 6 982.67 SF +1-IAvn. : -4 000 6 600 SF +1- : -3000 5913.56 SF +1-/Ava. -2000
Zonina R2 R2 R1 : R1
Price/SF N/A $9.31/SF $11.36/SF $13.951SF
OR Book/Paae 18133/1171 21349/1789 20191/1235 20089/1747
Sales or Financing N/A Cash to Seller Conventional Conventional
Concessions None Known . None Known None Known
Net Adi. IT otall r 1+ fl - : $ 11+1X1- : $ 12125 fl+ rxI :$ 11950
Indicated Value ]$ 1$ .Net .1!1.5 %/ $
of Subject ..',. ^; ,. Net : % 65 000 Net"'to.2 % 62,875 70 550
Comments on Market Data: All three sales are oiven consideration In the market analvsls. Sales 2 and 3 are located outside of the Heart of Boynton
Redevelopment boundaries. Sale 1 the Subject orooertv and Listina 4 are within the boundaries of the re-development area. Tveical homes in the
sub/ect neiahborhood are selling from $120 000 ue to $282,000. See Attached Sales Summary.
Comments and Conditions of Appraisal: ---------
-.-.-
Final Reconciliation: All three sales are aiven consideration In the flnal analysis. The hiahest and best use of the site is to allow zonina chanaes to
occur for slnale tami dwellinos In the neighborhood and comnlete the revitalization ero'ecl. Based on the market sales a Drlce per souare foot
I.c~ ed'ln the middle Iof tile adjusted price scale is indicated for the subiectlot, as of Februarv 27 20070f $13/SF.
1st ~1; wnRKE~ V;~~F1RED' OF SUBJEC~:ER:: OF February 27, 2007 to be $ 66,000 .
SAfE REGIS:?:[PJ,INE # ~ STATE ~ .::::::.::---' o Did [2<:J Did Not PhYSically Inspect Property
Michelle J. Jack on Robert B. Ba
Appraiser(s) Review Aporaiser (if applicable)
File No 270127000
[Y2K]
Anderson & Carr, Inc.
Form LND - "TOTAL for Windows" appraisal software by a la mode, inc. - 1-800-ALAMODE
LAND APPRAISAL REPORT
MARKET DATA ANALYSIS
File No. 270127.000)
File No. 270127.000
ITEM SUBJECT PROPERlY COMPARABLE NO 4 -.-- -- COMPARABLE NO.5 COMPARABLE NO~
Address NW 12th Avenue 420 NW 6th Avenue
Bovnton Beach Bovnton Beach .--
Proximitv to Subiect .. .. 0.39 miles 0.62.mlles
Sales Price 1$ N/A 1$ __ _140,000 1$ 1$
Price 1$ N/A . ' 1$ 1$ [$
Data Source Public Records Files MLS 2728465 ISC RealQuest
Date of sale and DESCRIPTION DESCRIPTION [+1-1$ Adiust. DESCRIPTION 1+1-1$ Adiust. DESCRIPTION 1 +( -)$ Adiust.
Time Mustment N/A Active ListIna 10/06 : -2800 : : -
Location Interior Lot Interior Lot : :
SiteNiew Residential Residential :
Tract Size/Site Utilitv 5 100 SF +1-1 Averaoe 12890 SF +1- -60 000 : :
ZoninQ R2 R1-A :
Price/SF N/A $10.86/SF
OR BooklPaoe 18133/1171 N/A : -~
Sales or Financing N/A No Offers To Date
Concessions 146 Oavs on Market :
Net Adi. IT olal\ . rl + 1Xl- :$ 62 800 il + 11- : $ rl + il :$
Indicated Value .0.' Net 44;9 %1 $ 1$ % 1$
of Subiect .-".' 77,200 ,. ,Net % Net
Comments: See General Text Addendum. -
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Form LND.(AC) - "TOTAL for Windows" appraisal software by a la mode, inc - 1-800-ALAMODE
Supplemental Addendum
1File No~270i27.000l
File No. 270127.000
Redevelo men! A enc
Coun Palm Beach
State FL
Zip Code 33435
INCOME APPROACH TO VALUE:
The Income Approach to Value is not applicable as the typical purchaser is an owner/developer who would not buy
same as an income generating property.
SALES HISTORY:
The subject property was last purchased in January 2005 for a recorded price of $15,500 by the current owner as
recorded in OR Book 18133, page 1171. This information does not constitute a title search.
SALES SUMMARY:
The subject property has a land use designation of R2 for medium density residential with a maximum of 9.68
units (Max.)per acre. It is vacant and ready for development as are all of the sales and listings used in this report.
The subject site is smaller than the three comparable sales and is in an inferior neighborhood, however the
neighborhood is experiencing a revitalization effort, with Sale 1 and Listing 4 being under the same influence as the
subject.
The comparable sales were adjusted for their differences when compared to the subject. All of the sales are sites
that were purchased for residential development or potential residential development Typical buyer of the subject
would consider this development option. All of the sales are located within 2 to 3 miles of the subject.
All sales and listings used in this report were adjusted for time based on 1/2% per month due to the decreasing real
estate market in this area.
Sale 1 is located on the northeast corner of NE 11 th Avenue and Seacrest Boulevard, just eastof Seacrest
Boulevard and north of Boynton Beach Boulevard in Boynton Beach, Florida. It has the same zoning as the subject
property but an external obsolescence due to it's proximity to Seacrest Boulevard and traffic noise. The lot has
recently been cleared for development. This sale occurred in January of 2007 and sold for $65,000 indicating $9.31
per square foot of vacant land. An upward adjustment was made to this sale for the external obsolescence due to
the traffic noise from Seacrest Boulevard. A downward adjustment was made to Sale 1 for the difference in size as it
compared to the subject.
Sale 2 and 3 are in the east Boynton Beach corridor north of the C-16 canal and just north of the Heart of Boynton
Beach Re-Development boundaries. These sales are in a superior neighborhood when compared to the subject
property, therefore requiring a downward adjustment for location. The density on these two sales is less than the
subject property, however, the subject property's size prohibits the development of more than one dwelling, therefore
no adjustment was deemed necessary. A downward adjustment was made to both Sale 2 and 3 for the difference in
size as they comapred to the subject property.
Comparable 4 is an active listing on MLS. It is located west of North Seacrest Boulevard and has been on the open
market for 146 days with no offers. This active listing is zoned R1-A This listing was adjusted for negotiation,
location and size This listing appears to be overpriced.
After all adjustments, the market indicates a value for the Subject property of $66,000
ASSESSED VALUE:
Subject property is currently assessed for a total market value of 38,418. There are no exemptions on this property.
The total gross real estate taxes are $838.
IMPROVEMENTS:
Subject property is vacant and ready for development.
CLIENT DISCLOSURE AND INTENDER USER
This Summary Appraisal Report is intended for use by Boynton Beach Community Relocation Agency and/or
assigns. Use of this report by others is not intended by the appraiser.
PURPOSE OF REPORT:
The Purpose of this Summary Appraisal Report is to estimate the Market Value, Fee Simple Estate of the Subject
property based on its "As Is" condition as of February 27,2007.
INTENDED USE/USER OF THIS REPORT:
The Intended Use/User of this Summary Appraisal Report is to provide the client with a supportable estimate of
value for the subject property which can be utilized for purchasing purposes.
Form TADD - "TOTAL tor Windows" appraisal software by a la mode, inc. -1-800-ALAMODE
Supplemental Addendum
iFile No. 270127.0001
File No. 270127.000
County Palm Beach
State FL
Zip Code 33435
SCOPE OF ASSIGNMENT:
In keeping with the purpose of the appraisal and the appraisal process, the appraisers have engaged in original
research to provide a complete analysis for the client Data from analysis has been gathered from various sources,
such as the Palm Beach County Public Records, First American Real Estate Solutions, county and local planning &
zoning departments, local realtors, property owners, and other appraisal offices. The product of this research and
analysis is formulated within this report for analysis of and direct comparison with the subject property being
appraised. Additionally, we have used original research performed in preparation of other appraisals by this office,
which is considered appropriate for the subject property. This report is a complete appraisal in a summary format
Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden- or unapparent
conditions of the property that would make the property more or less valuable. The appraiser makes no guarantees
or warranties, express or implied, regarding the condition of the property. This summary appraisal report is not a
home inspection and/or an environmental inspection and cannot be relied upon to disclose defects or conditions in
the property. The appraiser performs an inspection of visible and accessible areas only. A professional
environmental inspection is recommended.
Fonm T ADD - "TOTAL tor Windows" appraisal software by a la mode, inc - 1-800-ALAMODE
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iFile No. 270127.0001
Plat Map
Borrower Client Bo nton Beach Communi
Pro e Address NW 12th Avenue
Ci Bo ntcin Beach
Lender Bo "ton Beach Commun'
State FL
Zip Code 33435
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iFile No. 27012700Qj
Boundaries of Heart of Boynton Redevelopment Plan
County Palm Beach
Zip Code 33435
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IFile No. 270127.000 I
Proposed Zoning Map - Heart of Boynton Redevelopment Plan
Borrower/Client Bovnton Beach Communltv Redevelooment Anencv --
Pronertv Address NW 12th Avenue ,.
Cihi Bovnton Beach County Palm Beach State FL lip Code 33435
Lender N/A
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The Heart or 8oyltton Rvdvnlopm.m Milslvr Plan
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Page 54
Form MAP. PLAT - "TOTAL for Windows" appraisal software by a la mode, inc. - 1-800.ALAMODE
Subject Photo Page
IFile No. 270127.000!
Borrower/Client Bovnton Beach Community Redevelooment Aaencv --
Prooertv Address NW 12th Avenue
City Bovnton Beach County Palm Beach State FL Zip Code 33435
Lender N/A
SUbject Lot Front View
NW 12th Avenue
Sales Price
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
View
Site
Quality
Age
N/A
Interior Lot
Residential
Subject Aerial
Seacrest Blvd. and NW 12th
Fonm PIC3x5.SR - "TOTAL for Windows" appraisal software by a la mode, inc. -j.800-ALAMODE
IFile No. 270127.000 I
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open
market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming
the price is not affected by undue stimulus. Implicit in this definition is t~e consummation of a sale as of a specified date and
the passing of title from seller to buyer under conditions whereby: (1) buyilr and seller are typically motivated; (2) both partles
are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed
for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements
comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or
creative financing or sales concessions' granted by anyone associated with the sale.
'Adjustments to the com parables must be made for special or creative financing or sales concessions. No
adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a
market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions.
Special or creative financing adjustments can be made to the comparable property by comparisons to financing
terms offered by a third party institutional lender that is not already Involved in the property or transaction. Any
adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the
dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based
on the appraiser's judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject
to the following conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title
to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the title.
The property is appraised on the basis of it being under responsible ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the
sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's
determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or
other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood
Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this
determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,
unless specific arrangements to do so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the improvements at
their contributory value. These separate valuations of the land and improvements must not be used in conjunction with any
other appraisal and are invalid if they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence
of
hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became
aware of during the normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the
appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions
(including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and
has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the
condition of the property. The appraiser will not be responsible for any such conditions that do exist or for any engineering or
testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of
environmental hazards, the appraisal report must not be considered as an environmental assessment of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources
that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility
for the accuracy of such items that were furnished by other parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of
Professional Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory
completion, repairs, or alterations on the assumption that completion of the improvements will be performed in a workmanlike
manner.
10. The appraiser must provide his or her prior written consent before the lender/client speCified in the appraisal report can
distribute
the appraisal report (Including conclusions about the property value, the appraiser's identity and profeSSional designations,
and references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other
than the borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal
organizations; any state or f~derally approved financial institution; or any department, agency, or instrumentality of the United
States or any state or the District of Columbia; except that the lender/client may distribute the property description section of
the ~eport only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The
appraiser's written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public
through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93
Page 1 of 2
Fannie Mae Form 10048 6-93
Anderson & Carr, Inc.
Form ACR DEFD - "TOTAL for Windows" appraisal software by a la mode, inc. -1-800.ALAMODE
ifile No. 270127.000J
APPRAISER'S CERTIFICATION: The appraiser certifies and agrees that:
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and
proximate to the subject property for consideration in the sales comparison analysis and have made a dollar adjustment when
appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property
is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce the adjusted sales
price of the comparable and, if a significant item in a comparable property is inferior to, or less favorable than the subject
property, I have made a positive adjustment to increase the adjusted sales price of the comparable.
2. I have taken into consideration the factors that have an impact on value In my development of the estimate of market value
in the appraisal report. I have not knowingly withheld any significant information from the appraisal report and I believe, to the
best of my knowledge, that all statements and information in the appraisal report are true and correct.
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions,
which are SUbject only to the contingent and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that Is the subject to this report, and I have no present or
prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or
completely, my analysis andfor the estimate of market value in the appraisal report on the race, color, religion, sex, handicap,
familial status, or national origin of either the prospective owners or occupants of the subject property or of the present
owners or occupants of the properties in the vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor
my compensation for performing this appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related
party, the amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to
receive my compensation andfor employment for performing the appraisal. I did not base the appraisal report on a requested
minimum valuation, a specific valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal;n conformity with the Uniform Standards of Professional Appraisal Practice that were adopted
and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date
of this appraisal, with the exception of the departure provision of those Standards, which does not apply. I acknowledge that
an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the
estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have
otherwise stated in the reconciliation section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as
com parables in the appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject
improvements, on the subject site, or on any site within the immediate vicinity of the subject property of which I am aware and
have made adjustments for these adverse conditions in my analysis of the property value to the extent that I had market
evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the
subject property.
9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied
on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation
of the appraisal report, I have named such individual(s) and disclosed the specific tasks perfonned by them in the
reconclllatlon section of this appraisal report. I certify that any Individual so named fs qualified to perform the tasks. I have
not authorized anyone to make a change to any item in the report; therefore, if an unauthorized change is made to the
appraisal report, I will take no responsibility for it.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies
and agrees that: I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report,
agree with the statements and conclusions of the appraiser, agree to be bound by the appraiser's certifications numbered 4
through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED: NW 12th Avenue Bo
APPRAI
Signa re:
Name: Robert B. Banting. MAl,
Date Signed: March 3, 2007
State Certification #: State Certified General R.E. Appraiser #RZ4
or Slate License #:
State: Florida
Expiration Date of Certrtication or License: 11/30/2008
Signature:
Name: Michel e J. Jackson
Date Signed: March 3, 2007
State Certification #: State Registered Trainee Appraiser # RI15929
or State License #:
State: Florida
ExpirilJion Date of Certification or License: 11/30/2008
[J Did
I:8J Did Not Inspect Property
Freddie Mac Form 439 6-93
Page 2 of 2
Fannie Mae Form 10048 6-93
Form ACR DEFD - "TOTAL for Windows" appraisal software by a la mode, inc. - 1-800-ALAMODE
SUPPLEMENTAL ADDENDUM
!File No. 270127.000 i
File No 270127.000
Borrower/Client Boynton Beach Community Redevelopment Agency .~
Prooertv Address NW 12th Avenue
Citv Bovnton Beach County Palm Beach State FL Zip Code 33435
Lender N/A
Statement of Limiting Conditions and Appraiser's Certification (ContinUed)!
11. I certify that, to the best of my knowledge and belief, the reported analysis, opinions and conclusions were developed, and this
report has been prepared in conformity with the requirements of the code of professional ethics and the standards of professional
appraisal practice of the Appraisal Institute.
12. I certify that the use of this report Is subject to the requirements of the Appraisal Institute relating to review by its duly
authorized representative.
13. The appraisers .have performed within the context of the competency provision of the Unifonn Standards of Professional
Appraisal Practice.
14. The use of this report is subject to the requirements of the Appraisal Institute and the State of Florida Division of Real Estate,
Florida Real Estate Board, relating to review by their duly authorized representatives.
15. This appraisal report has been prepared for the exclusive benefit of the clienllt may not be used or relied upon by any other
party. Any party who uses or relies upon any infonnation in this report, without the preparer's written consent, does so at this own
risk. If this report is placed in the hands of anyone but the client, client shall make such party aware of all the Assumptions and
Limiting Conditions of this assignment.
16. As of the date of this report, Robert B. Banting, MAl, 8RA has completed the requirements of the continuing education
program of the Appraisal Institute.
17. ACCEPTANCE OF, AND/OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING
CONDITIONS.
Fomn SUP - "TOTAL for Windows' appraisal software by a la mode, inc. - 1.800-ALAMODE
[File No. 270127.0001
Qualifications
Redevelo ment A enc
County Palm Beach
State FL
Zip Code 33435
QUAUFICATIONSOFAPPRMSER
ROBERT B. BANTING, MAl, SRA
PROFESSIONAL DESIGNATIONS . YEAR RECEIVED
MAl - Member Appraisal Institute - 1984
SRA - Senior Residential Appraiser, Appraisal Institute - 19n
SRPA - Senior Real Properly Appraiser, Appraisallnstilute - 1980
State-Certified General Real Estate Appraiser, State of Florida, License No. RZ4 . 1991
EDUCATION AND SPEOAL TRAINING
Licensed Real Estate Broker - #3748 - State of Florida
Graduate, University of Florida, Colle&" of Business Administration, BSBA (Major - Real Estate & Urban Land Studies) 1973
Successfully completed and passed the rollowing Society of Real Estate Appraisers (SREA) and American Institute of Real
Estate Appraisers (AlREA) courses and/or exams: Note: the SREA & A1REA merged in 1991 to fonn the Appraisal
Institute.
SREA R2:
SREA 201:
SREA:
SREA:
AlREA 18:
SREAIOl:
AlREA:
AlREA:
AlREA:
AIREA 2-2:
AlREA:
AI REA:
AI REA:
Case Study of Siogle Family Residence
Principles of I ncome Properly Appraising
Single Family Residence Demonstration Report
Income Property Demonstration Report
Capitalization Theory and Technique.
Introduction to Appraising Real Property
Case Studies in Real Estate Valuation
Standards of Professional Practice
Introduction to Real Estate Investment Analysis
Valuation Analysis and Report Writing
Comprehensive Examination
Litigation Valuation
Standards of Professional Practice Part C
ATrENDED VARIOUS APPRAISAL SEMINARS AND COURSES INCLUDING:
The Internet and Appraising
Golf Course Valuation
Discounting Condominiums & Subdivisions
Narrative Report Writing
Appraising for Condemnation
Condemnation: Legal Rules & Appraisal Practices
Condominium Appraisal
Reviewing Appraisals
Analyzing Commercial Lease aauses
Eminent Domain Trials
Tax Considerations in Real Estate
Testing ReasonabJenessIDiscounted Cash Flow
Mortgagc Equity Analysis
Partnerships & Syndications
Hotel and Motel Valuation
Advanced Appraisal Techniques
Federal Appraisal Requirements
Analytic Uses of Computer in the Appraisal Shop
Valuation of Leases and Leaseholds
Valuation Litigation Mock Trial
ResidentiaJ Construction From The Inside Out
Rates, Ratios, and Reasonableness
Analyzing fncome Producing Properties
Development 01 MajorlLarge Residential Projects
Standards of Professional Practice
Regression Analysis In Appraisal Practice Federa' Appraisal Requirements
Engaged in appraising and consulting assignments including market research. rental studies. feasibility analysis. ~rt witness
testimony. cash now analysis. settlement c:onfereo(U, and brokcnge covering all types of real estate since 1972.
President of Anderson & Carr. loe.. Realtors and Appraiscr.s, established 1947
Past Pn:siden. Palm Beach County a.apler, Society 01 Real Esto.. Appraise.. (SREA)
Realtor Member of Central Palm Beach County Association of Realtors
Special Master rot Palm Beach County Property AppraiSlI1 Adjustment 80erd
Qualified as an Expert Witness providing testimony in matters of condemnation. property di.\putes, bankruptcy court.
foreclosures. and other is.c:ues ofreil property valuation.
Member or Admissions Committee. Appraisallnstitutc . South f-1orida Chapter
Member of Review and Counseling Committee. Appraisal Institute _ South Florida a.pter
Approved appraiser for State of Florida. Depanment of Transportation and Department Natural Resources.
Instructor of seminars, sponsored by the West Palm Beach Board 0( Realtors.
Authored artides for The Palm Reach Post and.b!.1m: newsletter.
Real Estate Advisory Board Member. University of Florida.
TYPES OF PROPERTY APPRAISED - PARTIAL L1srtNG
Air Rights Medical Buildings
Amusement Parks Department Stores
Condominiums Industrial Buildings
Centers
Residences ~ All Types Mobile Home Parks
Interests
Special Purpose Buildings Restaurants
Institutions
Auto DealershiPs Vacant Lots ~ Acreage
Easement.~
Apartment Buildings
Hotels - Motels
Officc Buiidings
Churches
Marinas
Shopping
Service Stations
Leasehold
Golr Courses
Financial
Residential Projects
"I am currently certified under the conrinuing education program of the Appraisal Institute."
Form MAP.PLAT - "TOTAL for Windows" appraisal software by a la mode, inc. -1-800-ALAMODE
lFile No. 270127.000 I
Qualifications
Redevelo ment A enc
County Palm Beach
State FL
Zi Code 33435
QUALIFICATIONS OF APPRAISER
MICHELLE J. JACKSON
GENERAL ll'<'FORMATION
State - Registered Trainee Rcal Estate Appraiser RI15929
EDUCATION AND SPECIAL TRAINING
Palm Beach Community College, Lake Worth, Florida
AA{ Majors - Architecture and Fine Art) 1984
Practiced Architectural Design in Palm Beach, Florida from 1985 through 1993.
Successfully completed and passed the following courses:
FREAB Licenses Residential Appraisal Course I, January 2005
MREA Licenses Residential Appraisal Course II, June 2006
USPAP, June 2006
Engaged in appraising real estate on a full time basis with:
Appraisal Realty Institute, March 2005
North Palm Beach, Florida
Anderson & Carr, Inc, March 2006
West Palm Beach, Florida
Resident of Palm Beach County since 1971.
TYPES OF PROPERTIES APPRAISED
Vacant Commercial Land
Vacant Residential Land
Commercial Buildings
Industrial Buildings
Insurable Value Reports - Residential and Commercial
Single Family Residences
Condominiwns
2-4 Family Residential Buildings
Form MAP.LOC - "TOTAL tor Windows" appraisal software by a la mode, inc. - 1-800.ALAMODE
~J~~Y~T8~ eRA
. East Side-West Side-Seas'lde Rena'lssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13, 2007
AGENDA ITEM:
I Consent Agenda I x I Old Business
New Business
Public Hearing
Other
SUBJECT: Discussion of Ocean Breeze Incentives
SUMMARY:
The CRA board previously entered into a Direct Incentive Agreement with Boynton Associates, the developer of
the Ocean Breeze project located in the Heart of Boynton for a total of $852,587 over a ten year period. In
September 2006, in response the developer's assertion that the terms of the executed DIF A were insufficient to
make the project work, staff presented an enhanced incentive package valued at $3.9M. At that time, the Board
directed staff to bring back a draft incentive agreement.
Staff has worked diligently with the developer to come up with an incentive package that makes financial sense
for the agency and the developer. Boynton Associates latest incentive request is outlined below:
a. City and CRA agree to promptly consider and approve any request for rezoning of the Boynton
Associates properties, and any contiguous parcels acquired or contributed to the Project, to
SHDRlIPUD 20 du/ac. A complete site plan submission package will not be required for this
approval.
b. CRA agrees to buy the pre-sale units required by the Developer's lender so that construction can
begin on the project, which is estimated to be 37 units and can assign their contracts subject to
the deed restrictions required of the existing DIF A, any new DIF A, as well as any additional
requirements mandated by the zoning change. CRA agrees to immediately place a deposit of 10%
of the total purchase price of the 37 units with developer's lender or the lender's approved
escrow agent. Once these units are sold to the CRA, the requirements of the DIF A and/or the new
zoning will have been met.
b. CRA shall contribute the "Peters" property and buy and contribute the Hollis, Jones and HTM
leasing properties to enable a further enhanced site plan and/or additional units. This incentive
is contingent upon the CRA being able to acquire the desired parcels through diligent good-faith
voluntary acquisition..
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options.doc
~~~~Y~T8~le RA
. East Side -West Side-Seaside Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
c. Upon execution of the agreement, CRA will immediately deliver $2m in cash and a Letter of
Credit in the amount of$2m to Developer's lender to be used for land buy-down, the project
and/or fees associated with the project.
d. Project to be put on CRA/City Fast Track for sought after approvals.
e. Parties to agree on a mutually acceptable site plan and building elevations, The site plan and
rendering would become exhibits to the DIFA . The building elevations shall be similar to the
Developer's original submission (prior to CRA requested enhancements), with the exception of
the composition shingle roof, which shall be changed to metal.
f. Parties shall agree to a mutually acceptable Project Schedule.
g. The Direct Incentive Agreement shall give the CRA Board the specific right, but not the
obi igation, to approve of any successor or assign of the Developer, unless that successor or
assign is a related entity (shares members).
h. CRA shall immediately remove the demolition lien from the project property as previously
agreed to, without the need for further action on the part of the Developer.
I. City and CRA agree to extend the existing Ocean Breeze site plan and DIF A for one year.
J. CRA and City agree to use their housing incentive programs for the Project units and agree to
budget accordingly.
I. CRA agrees to allocate to the Developer a TIF rebate based on the entire project (both phases
and total units) at the maximum amount with the maximum front loading available under the
program, with a minimum of 50% of the TIF over a ten year period per phase with maximum
front loading.
m. City and CRA agree to waive all fees (including, but not limited to, administration, application,
review, park, bonding, surety, water reservation, permit, impact, etc.) and to assist Developer in
applying for fee waivers from Palm Beach County.
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options.doc
~~~~Y~T8~ eRA
. East Side- West S.,de-Seaside Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
Ocean Breeze
Requested Project Assistance Summary
Incentive Type Simole Cash Value Notes
Demolition of Structures $ 350,000 I
CRA Purchase of37 units ;;'....f..............}.c.. >.:/h.;;.. ;;'.' i:>
37 units @ 265,000 I $9,805,000.00 $ 980,500 2
CRA Purchase of Peter Property $ 470,000 3
CRA Purchase of Additional Properties $ 750,000 4
CRA Payment of Development Fees, Impact
Fees, Other Fees and Infrastructure
Improvements $ 4,000,000
Total $ 6,550,500
I Waiver previously approved and amount previously paid from 2005 budget
2. This amount is the 10% deposit required. The CRA will sell the units to buyers
and utilize its HAP and CLT for funding along with the Buyer's lender and the City
programs. It is possible that a portion of this amount will be repaid from buyers,
their lenders, or various programs available..
3 Property already purchased by CRA in 2006 budget year
4. Estimate.
FISCAL IMPACT:
Funds are available from Bond II proceeds, HAP program, CL T funding but would leave little for other projects.
RECOMMENDA TIONS:
Staff does not recommend the incentive package requested by the developer. The developer is seeking
the entire project subsidy from the CRA. Furthermore, staff cannot evaluate if this is the appropriate
amount of subsidy since the developer will not disclose pertinent information particularly the cost of the
land. It is not standard practice for a CRA to fully fund the gap in an affordable housing project.
Typically developers of affordable housing have expertise in accessing a variety of subsidies ranging
from the federal to local level.
If the Board does not approve the proposed incentive package, Boynton Associates is prepared to sell the
property to the eRA for 1.5% above appraised value ($6.4M) plus the value of the impact fee credits
($500,000) for a total of $7.0M.
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options.doc
~tlI~~Y~T8~ eRA
. East Side-West Side-Seaside RenaISsance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
Staff feels that it would be more productive to purchase the Ocean Breeze site and request proposals
from developers with experience with this size and type of development. This will afford the CRA more
control over the project to ensure quality and affordability.
The eRA attorney and the developer have drafted a purchase agreement (attached) if the Board wishes to
pursue this alternative.
~~
ViVIan L. Brooks ../
CRA Planning Director
Kenneth G. Spillias
eRA Attorney
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options.doc
PURCHASE AGREEMENT
This Purchase Agreement (hereinafter "Agreement") is made and entered into as of the
Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of
the Florida Statutes (hereinafter "CRA" or "PURCHASER") and BOYNTON ASSOelA TES,
L TD, a Florida Limited Partnership, (hereinafter "SELLER").
In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree
as follows:
I. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to
eRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions
hereinafter set forth, the Property located in Palm Beach eounty, Florida (the "Property") and
more particularly described as follows:
See Exhibit "A"
2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the
Property shall be Six Million Five Hundred Thousand Dollars ($6,500,000.00), payable in cash,
by wire transfer of United States Dollars at the elosing. Also at the time of Closing,
PURCHASER shall pay an additional Five-Hundred Thousand Dollars ($500,000.00) to
SELLER in exchange for an assignment of all of SELLER'S rights, title, and interest, if any, in
and to all Palm Beach County Impact Fee credits applicable to the Property.
3. DEPOSIT. PURCHASER shall pay the sum of Six Hundred and Fifty
Thousand Dollars ($650,000.00) as the deposit required under this Agreement ("Deposit") three
(3) business days following the Effective Date of this Agreement.
3.1 Application/Disbursement of Deposit. The Deposit shall be applied and
disbursed as follows:
The Deposit shall be delivered to SELLER at Closing and the PURCHASER shall
receive credit for such amount against the Purchase Price. If this Agreement is terminated during
the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately
refunded to the PURe HASER. If this Agreement is terminated due to a default, pursuant to
Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non-defaulting
Party, and the non-defaulting Party shall have such additional rights, if any, as are provided in
Section 12.
3.2 Escrow Agent. Buyer and Seller agree that the Deposit shall be paid to
Lewis, Longman & Walker, P.A. ("Escrow Agent") who shall be instructed to invest the Deposit
in an interest-bearing money market account with an insured banking or savings and loan
institution doing business in the State of Florida. The interest earned on the Deposit shall be paid
to the party who is entitled to the Deposit under the terms of this eontract, and shall not be
applied as a reduction to the Purchase Price. Interest earned on the Deposit shall be reported
PUReHASE AGREEMENT
Page 2 of 16
under the federal tax identification number for the party receiving the Deposit. Buyer and Seller
agree to execute and deliver such tax reporting forms as may be reasonably required by Escrow
Agent to establish such account and to report the interest.
PURCHASER and SELLER authorize Escrow Agent (as defined above) to
receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper
authorization and in accordance with Florida law and the terms of this Agreement. The parties
agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to
PURCHASER and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of
this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the
escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover
reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and
awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be
arbitrated, so long as Escrow Agent consents to arbitrate.
4. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS;
EFFECTIVE DATE. If this Agreement is not executed by and delivered to all parties the day
after PUReHASER'S March 2007 Board meeting (which is now scheduled for March 13,2007),
the Deposit will, at PURCHASER'S option, be returned and this offer shall be deemed
withdrawn. Unless otherwise stated, the time for acceptance of any counteroffers shall be five (5)
days from the date the counteroffer is delivered. The date of this Agreement (the "Effective
Date") shall be the date when the last one of the CRA and SELLER has signed or initialed this
offer or the final counteroffer.
5. eLOSING. The purchase and sale transaction contemplated herein shall close on
or before April 15, 2007, unless extended or shortened by other provisions of this Agreement or
by written agreement, signed by both parties.
6. TITLE TO BE eONVEYED. At Closing, SELLER shall convey to eRA, by
Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined),
valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and
all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions
except only the following (collectively, the "Permitted Exceptions" attached hereto as Exhibit
B): (a) general real estate taxes and special assessments for the year of Closing and subsequent
years not yet due and payable; (b) covenants, conditions, easements, dedications, rights-of-way
and matters of record included on the Title eommitment or shown on the Survey (defined in
Section 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.2
and Section 7.3 hereof.
7. INVESTIGATION OF THE PROPERTY. Within thirty (30) days from the
Effective Date of this Agreement ("Feasibility Period"), eRA, and CRA's agents, employees,
designees, eontractors, surveyors, engineers, architects, attorneys and other consultants
(collectively, "Agents"), shall have the right, at CRA's expense, to make inquiries of, and meet
with members of Governmental Authorities regarding the Property and to enter upon the
Property, at any time and from time to time with reasonable notice to SELLER and so long as
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PUReHASE AGREEMENT
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said investigations do not result in a business interruption, to perform any and all physical tests,
inspections, and investigations of the Property, including but not limited to Phase I and Phase II
investigations, which CRA may deem necessary. The CRA may enter the Property as of the
Effective Date to conduct these investigations. During this Feasibility Period, CRA may elect, in
eRA's sole and absolute discretion, to terminate this contract and receive back all Deposits
hereunder. If CRA elects to terminate this Agreement in accordance with this Section, CRA
shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject
to such disturbance as was reasonably necessary or convenient in the testing and investigation of
the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the
Property by CRA's testing and investigation; and (iii) release to SELLER, at no cost, all reports
and other work generated as a result of the CRA' s testing and investigation. CRA hereby agrees
to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands
and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered
to eRA (including, without limitation, any construction liens resulting therefrom) or for damage
to persons or property (subject to the limitation on practicability provided above) arising out of
eRA's investigation of the Property. eRA's obligations under this Section shall survive the
termination, expiration or Closing of this Agreement. However, CRA' s indemnification
obligations shall not exceed the statutory limits as described within Section 768.28, Florida
Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to
indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and
liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to
SELLER or for damage to persons or property (subject to the limitation on practicability
provided above) arising out of CRA' s investigation of the Property, if such damage to persons or
property results from services rendered at SELLER'S request. The obligations of the parties
under this Section shall survive the termination, expiration or Closing of this Agreement.
7.1 Seller's Documents. eRA acknowledges that SELLER has delivered to
CRA the following documents: copies of any reports or studies (including environmental,
engineering, surveys, soil borings and other physical reports) in SELLER'S possession or control
with respect to the physical condition of the Property, if any.
7.2 Title Review. During the Feasibility Period, CRA shall obtain, at the
eRA's expense, from the Title eompany chosen by CRA (hereinafter "Title Company"), a Title
eommitment covering the Property and proposing to insure CRA in the amount of the Purchase
Price subject only to the Pernlitted Exceptions shown in Exhibit B, together with complete and
legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title
eommitment. CRA shall examine the Title eommitment and deliver written notice to SELLER
no later than twenty (20) days after the Effective Date notifying SELLER of any objections CRA
has to the condition of title (hereinafter "eRA Title Objections"). If CRA fails to deliver the
CRA Title Objections to SELLER within the aforesaid review period, title shall be deemed
accepted subject to the conditions set forth in the Title eommitment. If CRA timely delivers the
eRA Title Objections, then SELLER shall have thirty (30) days to diligently and in good faith
undertake all necessary activities to cure and remove the eRA Title Objections (hereinafter
"eure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured
and removed, the eRA Title Objections within the Cure Period, to the satisfaction of CRA, then
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PUReHASE AGREEMENT
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CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the Cure
Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title to the
Property as of the time of elosing or (iii) canceling and terminating this Agreement, in which
case, the Deposit shall be returned to CRA and the Parties shall have no further obligations or
liability hereunder, except for those expressly provided herein to survive termination of this
Agreement.
Prior to the Closing, CRA shall have the right to cause the Title Company to issue
an updated Title Commitment ("Title Update") covering the Property. If any Title Update
contains any conditions which did not appear in the Title eommitment, and such items render
title unmarketable, CRA shall have the right to object to such new or different conditions in
writing prior to Closing. All rights and objections of the Parties with respect to objections
arising from the Title Update shall be the same as objections to items appearing in the Title
eommitment, subject to the provisions of this Section.
7.3. Survey Review. CRA, at eRA's expense, may obtain a current boundary
survey (the "Survey") of the Property, indicating the number of acres comprising the Property to
the nearest 1/1 OOth of an acre. With the exception of matters shown in Exhibit B, if the Survey
discloses encroachments on the Property or that improvements located thereon encroach on
setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement,
or applicable governmental regulations, the same shall constitute a title defect and shall be
governed by the provisions of Section 7.2 concerning title objections.
8. CONDITIONS TO eLOSING. eRA shall not be obligated to close on the
purchase of the Property unless each of the following conditions (collectively, the "eonditions to
elosing") are either fulfilled or waived by CRA in writing:
8.1. Representations and Warranties. All of the representations and warranties
of SELLER contained in this Agreement shall be true and correct as of elosing.
8.2. Condition of Property. The physical condition of the Property shall be the
same on the date of Closing as on the Effective Date, reasonable wear and tear excepted.
8.3. Pending Proceedings. At Closing, there shall be no litigation or
administrative agency or other governmental proceeding of any kind whatsoever, pending or
threatened, which has not been disclosed, prior to closing, and accepted by eRA.
8.4. Compliance with Laws and Regulations. The Property shall be in
compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes,
requirements, licenses, permits and authorizations as of the date of elosing.
9. CLOSING DOCUMENTS. The eRA shall prepare, or cause to be prepared, the
Closing Documents set forth in this Section, except for documents prepared by the Title
Company. At Closing, SELLER shall execute and deliver, or cause to be executed and
delivered, to CRA the following documents and instruments:
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PUReHASE AGREEMENT
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9.1. Deed. A Warranty Deed (the "Deed") conveying to eRA valid, good,
marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances
and other conditions of title other than the Permitted Exceptions.
9.2 Seller's Affidavits. SELLER shall furnish to eRA an owner's affidavit
attesting that, to the best of its knowledge, no individual or entity has any claim against the
Property under the applicable construction lien law; and that there are no parties in possession of
the Property other than SELLER. SELLER shall also furnish to eRA a non-foreign affidavit
with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced
above, the same shall be deemed an uncured title objection.
9.3. Closing Statement. A closing statement setting forth the Purchase Price,
the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and
expenses to be paid at Closing, and the net proceeds due SELLER, which eRA shall also execute
and deliver at Closing.
9.4. Corrective Documents. Documentation required to clear title to the
Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions.
9.5. Additional Documents. Such other documents as CRA or the Title
eompany may reasonably request that SELLER execute and deliver, and any other documents
required by this Agreement or reasonably necessary in order to close this transaction and
effectuate the terms of this Agreement.
I O. PRORATIONS, CLOSING eOSTS AND CLOSING PROeEDURES.
10.1. Prorations. Taxes, assessments, rents, interest, insurance and other
expenses of the Property shall be prorated through the day before elosing. CRA shall have the
option of taking over existing policies of insurance, if assumable, in which event premiums shall
be prorated. eash at Closing shall be increased or decreased as may be required by prorations to
be made through the day prior to Closing. Advance rent and security deposits, if any, will be
credited to CRA. Taxes shall be prorated based upon the current year's tax with due allowance
made for maximum allowable discount. If elosing occurs at a date when the current year's
millage is not fixed and current year's assessment is available, taxes will be prorated based upon
such assessment and prior year's millage. If current year's assessment is not available, then
taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request
of either party, be readjusted upon receipt of tax bill.
10.2. Special Assessment Liens. Certified, confirmed and ratified special
assessment liens imposed by public bodies as of elosing are to be paid by SELLER. Pending
liens as of Closing shall be assumed by CRA. If the improvement has been substantially
completed as of the Effective Date, any pending lien shall be considered certified, confirmed or
ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or
assessment for the improvement by the public body.
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PURCHASE AGREEMENT
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10.3. Closing Costs. Seller shall pay for all documentary stamps on the deed,
recording the deed, and half of all general closing expenses (settlement fee, courier fees,
overnight packages, etc.). All other costs of closing shall be borne by eRA.
10.4 Closing Procedure. eRA shall fund the Purchase Price subject to the
credits, offsets and prorations set forth herein. SELLER and eRA (as applicable) shall execute
and deliver to elosing Agent the elosing Documents. The Closing Agent shall, at Closing: (i)
disburse the sale proceeds to SELLER; (ii) deliver the elosing Documents and a "marked-up"
Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable
Closing Documents in the appropriate public records.
10.5 Existing Mortgages and Other Liens. At Closing, SELLER shall obtain,
or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments
applicable to and encumbering the Property, except any liens accepted and included in Exhibit B.
11. REPRESENTATIONS, COVENANTS AND WARRANTIES.
11.1 Seller's Representations and Warranties. SELLER hereby represents,
covenants and warrants to CRA, as of the Effective Date and as of the elosing Date, as follows:
11.2. Authority. The execution and delivery of this Agreement by SELLER and
the consummation by SELLER of the transaction contemplated by this Agreement are within
SELLER'S capacity and all requisite action has been taken to make this Agreement valid and
binding on SELLER in accordance with its terms. The person executing this Agreement on
behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this
Agreement represents a valid and binding obligation of SELLER.
11.3. Title. SELLER is and will be on the Closing Date, the owner of valid,
good, marketable and insurable fee simple title to the Property, free and clear of all liens,
encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances
of record which will be discharged at elosing).
12. DEFAULT.
12.1. Purchaser's Default. In the event that this transaction fails to close due to
a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph
12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow
Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall
have any further obligation or liabilities under this Agreement, except for those expressly
provided to survive the termination of this Agreement; provided, however, that eRA shall also
be responsible for the removal of any liens asserted against the Property by persons claiming by,
through or under CRA, but not otherwise. eRA and SELLER acknowledge that if CRA defaults,
SELLER will suffer damages in an amount which cannot be ascertained with reasonable
certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent
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PUReHASE AGREEMENT
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most closely approximates the amount necessary to compensate SELLER. CRA and SELLER
agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture
prOVlSlon.
12.2. Seller's Default. In the event that SELLER shall fail to fully and timely
perform any of its obligations or covenants hereunder or if any of SELLER'S representations are
untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement,
eRA may, at its option: (1) declare SELLER'S in default under this Agreement by notice
delivered to SELLER, in which event CRA may terminate this Agreement and demand that the
Deposit be returned, including all interest thereon if any, in accordance with Section 3 and
neither Party shall have any further rights hereunder or (2) seek specific performance of this
Agreement, without waiving any action for damages.
12.3. Notice of Default. Prior to declaring a default and exercising the remedies
described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party
describing the event or condition of default in sufficient detail to enable a reasonable person to
determine the action necessary to cure the default. The defaulting Party shall have fifteen (15)
days from delivery of the notice during which to cure the default, provided, however, that as to a
failure to close, the cure period shall only be three (3) Business Days from the delivery of notice.
Both parties agree that if an extension is requested, such extension shall not be unreasonably
withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party
may exercise the remedies described above.
12.4. Survival. The provisions of this Section 12 shall survive the termination
of this Agreement.
13. NOneES. All notices required in this Agreement must be in writing and shall be
considered delivered when received by certified mail, return receipt requested, or personal
delivery to the following addresses:
If to Seller:
Boynton Associates, Ltd.
Attn: Mr. Larry Finkelstein
114 N. Federal Highway, Suite 202
Boynton Beach, Florida 33435
Tel: 561-736-9790
Fax: 561-423-2432
Email: lfgi@aol.com
With a copy to:
William E. Shannon, Esq.
4500 PGA Boulevard, Suite 304B
Palm Beach Gardens, Florida 33418
Tel: 561-622-4521
Fax: 561-656-0917
Email: wshannon@owen-Iawfirm.com
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PURCHASE AGREEMENT
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If to Purchaser:
Boynton Beach eommunity Redevelopment Agency
915 S. Federal Highway
Boynton Beach, Florida 33435
Tel: 561-737-3256
Fax: 561-737-3258
Email: BrightL@ci.boynton-beach.f1.us
With a copy to:
Kenneth G. Spillias, Esq.
Lewis, Longman & Walker, P.A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
Tel: 561-640-0820
Fax: 561-640-8202
Email: kspillias@llw-Iaw.com
14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this
Agreement are hereby made binding on, and shall inure to the benefit of, the successors and
permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement
without the prior written consent of eRA, which shall not be unreasonably withheld. CRA shall
have the right to assign this Agreement to the City of Boynton Beach (the "eity") without the
prior consent of SELLER and the CRA shall be released from any further obligations and
liabilities under this Agreement. The eRA may not assign this Agreement to any other party
without the prior written approval of SELLER, which shall not unreasonably withheld. If eRA
has been dissolved as an entity while this Agreement andlor the attached Lease Agreement are in
effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to
time), shall apply.
15. RISK OF LOSS. In the event the condition of the Property, or any part thereof, is
materially altered by an act of God or other natural force beyond the control of SELLER, CRA
may elect, as its sole option, to terminate this Agreement and the parties shall have no further
obligations under this agreement and all Deposits hereunder shall be refunded to CRA, or CRA
may accept the Property without any reduction in the value of the Property.
16. BROKER FEES. The Parties hereby confirm that neither of them has dealt with
any broker in connection with the transaction contemplated by this Agreement. Each Party shall
indemnify, defend and hold harmless the other Party from and against any and all claims, losses,
damages, costs or expenses (including, without limitation, attorney's fees) of any kind or
character arising out of or resulting from any agreement, arrangement or understanding alleged
to have been made by either Party or on its behalf with any broker or finder in connection with
this Agreement. The provisions of this Section shall survive Closing or termination of this
Agreement.
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PUReHASE AGREEMENT
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17. Environmental Conditions.
17.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any
hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant,
petroleum, petroleum product or petroleum by-product as defined or regulated by environmental
laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of
such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal,
state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions.
17.1.1 As a material inducement to CRA entering into this Agreement, SELLER
hereby warrants and represents the following, as applicable:
(1) That SELLER and occupants of the Property have obtained and are
in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or
contiguous property owned by SELLER, to the best of SELLER' knowledge.
(2) SELLER is not aware nor does it have any notice of any past,
present or future events, conditions, activities or practices which may give rise to any liability or
form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the
Property. SELLER is not aware nor does it have any notice of any past, present or future events,
conditions, activities or practices on contiguous property that is owned by SELLER which may
give rise to any liability or form a basis for any claim, demand, cost or action relating to the
Disposal of any Pollutant affecting the SELLER property.
(3) There is no civil, criminal or administrative action, suit, claim,
demand, investigation or notice of violation pending or, to the best of that entity's knowledge,
threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the
Property, any portion thereof, or on any contiguous property owned by SELLER.
17.2 Additional Warranties and Representations of SELLER. As a material
inducement to CRA entering into this Agreement, SELLER, to the best of SELLER' information
and belief, hereby represents and warrants the following:
17.2.1 There are no pending applications, permits, petitions, contracts, approvals,
or other proceedings with any governmental or quasi-governmental authority, including but not
limited to, eRA, municipalities, counties, districts, utilities, and/or federal or state agencies,
concerning the use or operation of, or title to the Property or any portion thereof and SELLER has
not granted or is not obligated to grant any interest in the Property to any of the foregoing entities.
17.2.2 There are no facts believed by SELLER to be material to the use, condition
and operation of the Property in the manner that it has been used or operated, which it has not
disclosed to eRA herein, including but not limited to unrecorded instruments or defects in the
condition of the Property which will impair the use or operation of the Property in any manner.
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PUReHASE AGREEMENT
Page 10 of 16
17.2.3 To the best of SELLER' knowledge, the Property and the use and operation
thereof are in compliance with all applicable county and governmental laws, ordinances,
regulations, licenses, permits and authorizations, including, without limitation, applicable zoning
and environmental laws and regulations.
17.3 SELLER Deliveries.
SELLER shall deliver to eRA the following documents and instruments within ten
(10) days of the Effective Date of this Agreement, except as specifically indicated:
17.3.1 Copies of any reports or studies (including engineering, environmental, soil
borings, and other physical inspection reports), in SELLER'S possession or control (other than the
documents described as having been received in Paragraph 7.1 above) with respect to the physical
condition or operation of the Property, ifany.
17.3.2 Copies of all approved plans, licenses, variances, waivers, permits
(including but not limited to all surface water management permits, wetland resource permits,
consumptive use permits and environmental resource permits), authorizations, and approvals
required by law or by any governmental or private authority having jurisdiction over the
Property, or any portion thereof (the "Governmental Approvals"), which are material to the use
or operation of the Property, if any.
17.3.3 At Closing, SELLER shall execute and deliver to eRA any and all
documents and instruments required by CRA, in CRA's sole and absolute discretion, which: (i)
effectuate the transfer to CRA of those Governmental Approvals, or portions thereof which are
applicable to the Property, that eRA desires to have assigned to it, andlor (ii) cause the Property
to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the
Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the
Governmental Approvals (including but not limited to any and all portions of the surface water
management system, mitigation areas or other items which do not comply with the
Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at
the time of Closing, any unrecorded instruments affecting the title to the Property, including, but
not limited to any conveyances, easements, licenses or leases.
18. MISCELLANEOUS.
18.1. General. This Agreement, and any amendment hereto, may be executed in
any number of counterparts, each of which shall be deemed to be an original and all of which
shall, together, constitute one and the same instrument. The section and paragraph headings
herein contained are for the purposes of identification only and shall not be considered in
construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire
Section, unless otherwise specified. No modification or amendment of this Agreement shall be
of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire
agreement between the Parties relating to the Property and all subject matter herein and
supersedes all prior and contemporaneous negotiations, understandings and agreements, written
or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of
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PUReHASE AGREEMENT
Page 11 of 16
the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising
out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States
District Court for the Southern District Court of Florida.
18.2. Computation of Time. Time is of the essence. Any reference herein to
time periods which are not measured in Business Days and which are less than six (6) days, shall
exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period
provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend
to 5:00 p.m. on the next full Business Day. Time is of the essence in the performance of all
obligations under this Agreement. Time periods commencing with the Effective Date shall not
include the Effective Date in the calculation thereof.
18.3. Waiver. Neither the failure of a party to insist upon a strict performance
of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance
of any item by a party with knowledge of a breach of this Agreement by the other party in the
performance of their respective obligations hereunder, shall be deemed a waiver of any rights or
remedies that a party may have or a waiver of any subsequent breach or default in any of such
terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination
of this Agreement and the Closing.
18.4. Construction of Agreement. The Parties to this Agreement, through
counsel, have participated freely in the negotiation and preparation hereof. Neither this
Agreement nor any amendment hereto shall be more strictly construed against any of the Parties.
As used in this Agreement, or any amendment hereto, the masculine shall include the feminine,
the singular shall include the plural, and the plural shall include the singular, as the context may
require. Provisions of this Agreement that expressly provide that they survive the elosing shall
not merge into the Deed.
18.5. Severability. If any provision of this Agreement or the application thereof
shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this
Agreement nor the application of the provision to other persons, entities or circumstances shall
be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The
provisions of this Section shall apply to any amendment of this Agreement.
18.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement
and initialed by eRA and SELLER shall control all printed provisions in conflict therewith.
18.7 Waiver of JUry Trial. As an inducement to CRA agreeing to enter into this
Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by
either party against the other party pertaining to any matter whatsoever arising out of or in any way
connected with this Agreement.
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PURCHASE AGREEMENT
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18.8. Attorneys Fees and eosts. Should it be necessary to bring an action to
enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including
those at the appellate level, shall be awarded to the prevailing party.
18.9 Binding Authority. Each party hereby represents and warrants to the other
that each person executing this Agreement on behalf of the eRA and SELLER has full right and
lawful authority to execute this Agreement and to bind and obligate the party for whom or on
whose behalf he or she is signing with respect to all provisions contained in this Agreement.
18.10 Recording. This Agreement may not be recorded in the Public Records of
Palm Beach eounty, Florida.
18.11 Survival. The covenants, warranties, representations, indemnities and
undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and
recording of the SELLER Property Deed and CRA's possession of the Property.
18.12 SELLER Attorneys' Fees and Costs. SELLER acknowledges and agrees
that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by
SELLER in connection with the transaction contemplated by this Agreement.
18.13. Disclosure. SELLER'S General Partner's Manager, Larry Finkelstein
(the executor of this Agreement), discloses that he is a licensed Florida real estate broker, and that
he has a beneficial interest in SELLER.
18.14 Tax Free Exchange. SELLER, at its sole discretion, may elect to
exchange the Property (or a portion thereof) for other properties ("Exchange Property") of their
choosing in a three party transaction, provided that the end result is that PURCHASER acquires
fee title to the Property without incurring any additional expense or liability of any nature. If
Seller so elects, the designation of Exchange Property shall be made in writing by SELLER prior
to the Closing date. The contract to complete the exchange ("Exchange Contract"), or an
assignment thereof to PURCHASER, shall be presented to PUReHASER concurrently with the
designation of the Exchange Property. PURCHASER shall have no obligation or responsibility of
the Exchange Property or for determining that the contemplated transaction will qualify as a "like
kind exchange" under Section 1031 of the Internal Revenue eode as amended. PUReHASER
agrees to fully cooperate with SELLER in connection with the acquisition of the Exchange
Property and the consummation of the exchange.
{THE REMAINDER OF THIS PAGE INTENIONALL Y LEFT BLANK}
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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective
date.
BUYER:
SELLER:
BOYNTON BEACH
COMMUNITY REDEVELOPMENT
AGENCY
BOYNTON ASSOCIATES, LTD.,
by its GENERAL PARTNER,
AFFORDABLE HOUSING, LLC.
By:
Henderson Tillman, Chairperson
By:
Larry Finkelstein, Its Managing Member
Print Name:
Date:
Date
Witnesses:
Witnesses:
Print Name
Print Name
Witnesses:
Witnesses:
Print Name
Print Name
Approved as to form and legal sufficiency:
eRA Attorney
13
PUReHASE AGREEMENT
Page140f16
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
Parcell:
A portion of Block C of the Plat of Boynton Hills, Boynton Beach, Palm Beach eounty, Florida,
according to the plat thereof as recorded in Plat Book 4, Page 51, of the Public Records of Palm
Beach County, Florida, described as follows:
eommence at the Northeast corner of Lot 147 of said Block C; thence South (assumed), along
the East line of said Lot 147, a distance of20.00 feet to the Point of Beginning; thence continue
South, along the East line of said Block C, 228.36 feet to the Southeast corner of Lot 134 of said
Block e; thence West, along the South line of said Lot 134, a distance of 100 feet to the East line
of Lots 135 and 136 of said Block C; thence South along said East line and the Southerly
prolongation thereof, 189.19 feet to the centerline of Grand Circle "N", being a curve concave
Southwesterly having a radius of 591.65 feet, (a line radial to said curve bears North 41004' 57"
East); thence Northwesterly, along the arc of said curve 5.02 feet through a central angle of 00
29' 11" to the intersection with the Northerly prolongation of the East line of Lot 129 of said
Block C, (a line radial to said curve at the said point of intersection bears North 40035' 46"
East); thence South along the said Northerly prolongation of the East line of Lot 129, a distance
of 57.60 feet to the Southeast corner of said Lot 129; thence West along the South line of said
Lot 129 and the South line of Lot 128, a distance of 150.00 feet to the West line of said Lot 128;
thence North, along said West line, 15.00 feet to the South line of Lots 127 and 126 of said
Block C; thence West, along the said South line of Lots 127 and 126, a distance of 100.00 feet to
the West line of said Lot 126; thence North, along said West line, 45.00 feet to the South line of
Lots 124 and 123 of said Block C; thence West along said South line, 100.00 feet to the West
line of said Lot 123; thence North along said West line and the Northerly prolongation thereof,
193.23 feet to the intersection with the Westerly prolongation of the South line of Lot 141 of said
Block e; thence North 760 46' 35" East, along said Westerly prolongation, 157.99 feet to the
West line of said Lot 141; thence North, along said West line, 101.25 feet to the North line of
said Lot 141; thence North 830 17' 55" East, along the North line of said Lots 141 and 142 of
said Block e, a distance of 75.51 feet to a line 25 feet West of and parallel with the East line of
Lot 150 of said Block C; thence North, along said parallel line, 92.44 feet to the North line of
Lots 150,149,148 and 147 of said Block e; thence East along said North line, 205.00 feet to the
beginning of a curve concave Southwesterly having a radius of 20.00 feet and a central angle of
90000' 00"; thence Southeasterly, along the arc of said curve, 31.42 feet to the Point of
Beginning aforedescribed.
Parcel 2:
Lots 1 through 12, inclusive, Block 1, Palm Beach eountry Club Estates, according to the Plat
thereof as recorded in Plat Book 11, Page 43, of the Public Records of Palm Beach County,
Florida; and the South 1/2 of the East 1/2 of Lot 2, of Subdivision of the West 1/2 of the
Southeast 1/4 of Section 21, Township 45 South, Range 43 East, according to the plat thereof, as
recorded in Plat Book 1, Page 4, of the Public Records of Palm Beach County, Florida, LESS the
South 125 feet, thereof and LESS the right of way for "Seacrest Boulevard" as shown on Road
Plat Book 5, Page 182, of the Public Records of Palm Beach County, Florida.
14
PUReHASE AGREEMENT
Page 15 of 16
Exhibit B
Permitted Exceptions
1. Taxes for the year of closing, and taxes or special assessments which are not shown as existing
liens by the public records.
2. Rights or claims of parties in possession not shown by the public records.
3. Encroachments, overlaps, boundary line disputes, and any other matter which would be disclosed
by an accurate survey and inspection of the premises.
4. Easements or claims of easements not shown by the public records.
5. Any lien, or right to a lien, for services, labor, or material, furnished to the premises imposed by
law and not shown on the public records.
6. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the
lands insured hereunder, including submerged, filled, and artificially exposed lands, and lands accreted to
such lands.
7. Resolution No. 05-176 in favor of City of Boynton Beach recorded in Official Records Book
19662, Page 893, as assigned to Boynton Beach Community Redevelopment Agency in Official Records
Book 20768, Page 938, both of the Public Records of Palm Beach County, Florida. (Seller to assign
whatever rights, title, or interest it has in and to the agreement by the Boynton Beach Community
Redevelopment Agency to waive any lien described in this Resolution.)
8. Oil, Gas and Mineral Reservations in favor of the State of Florida, as set forth in Deed from the
Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 709, Page 546,
of the Public Records of Palm Beach County, Florida, as affected by Quit-Claim Deed recorded in
Official Records Book 1953, Page 1601. The right of entry for mining and exploration in said
reservations has been released in Official Records Book 4081, Page 1974, of the Public Records of Palm
Beach County, Florida and by Section 270.11 F.S. Road Reservations have been released in Official
Records Book 20739, Page 486, of the Public Records of Palm Beach County, Florida.
9. Oil, Gas and Mineral Reservations in favor of the State of Florida, as set forth in Deed from the
Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 751, Page 209,
of the Public Records of Palm Beach County, Florida. The right of entry for mining and exploration in
said reservations has been released in Official Records Book 4081, Page 1974, of the Public Records of
Palm Beach County, Florida and by Section 270.11 F.S. Road Reservations have been released in Official
Records Book 20739, Page 486, of the Public Records of Palm Beach County, Florida.
10. Oil, Gas and Mineral Reservations in favor of the State of Florida, as set forth in Deed from the
Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 822, Page 121,
of the Public Records of Palm Beach County, Florida. The right of entry for mining and exploration in
15
PUReHASE AGREEMENT
Page 16 of 16
said reservations has been released in Official Records Book 4081, Page 1972, of the Public Records of
Palm Beach County, Florida and by Section 270.11 F.S. Road Reservations have been released in Official
Records Book 20739, Page 486, of the Public Records of Palm Beach County, Florida.
11. Easement to Florida Power and Light Company recorded in Official Records Book 1571, Page
429, of the Public Records of Palm Beach County, Florida.
12. Encroachment of NW 1st Street along the West Property line as shown on survey by O'Brien,
Suiter & O'Brien, Inc., Order No. 80-153db"1", dated October 20,2005, revised 9/2/05, revised 9/14/05,
revised 7/11/06, revised 10/17/06 and II /13/06. (as to Parcell).
13. Chain link fence encroaches .4' along the East property line and 4.3' along the North property
line; Encroachment of concrete drive, rock drive, pavement and concrete walkways on the Western
portion of the property; Encroachment of pavement along the side of the property, as shown on survey by
O'Brien, Suiter & O'Brien, Inc., Order No. 80-153db"l ", dated October 20, 2005, revised 9/2/05, revised
9/14/05, revised 7/11106, revised 10/17/06 and 11/13/06. (as to Parcell).
14. Irregular wood fence encroaches .05' along the South property line as shown on survey prepared
by O'Brien, Suiter & O'Brien, Inc., Order No. 80-1 53db"A", dated October 20,2005, revised 12/01/05,
revised 1/05/06, revised 7/13106, revised 7/19/06 and revised 10/17/06. (as to Parcel 2).
16
1~~qY~Te~CRA
Ii East Side-West Side-Seaside Rena,ssance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: March 13,2007
AGENDA ITEM: XA.
I Consent Agenda
Old Business I X
New Business
Public Hearing
Other
SUBJECT:
Historic Preservation
SUMMARY: Representatives of the Boynton Woman's Club approached the CRA in January to
discuss the possible sale of their property located at 1010 S. Federal Highway. The Boynton Woman's
Club has struggled over the last few years to maintain the building. The Club rents the building for
social functions to offset the maintenance costs but have been unable to keep up with rising expenses.
The Club approached the City three years ago to lease the building to the City for $6,000 per year for
community functions. The Club received no response from the City.
. The building was built in 1925 and was designed by Addison C. Mizner as a memorial to Major Nathan
S. Boynton, the found of Boynton Beach. The building is listed in the National Register of Historic
Places.
The CRA's appraisal of the property came in at $2,400,000. The Woman's Club is agreeable to selling
the building at a price significantly lower than the appraised value in order to preserve the building and
in exchange for being able to use the building for its monthly meetings and its annual fundraiser. Staff
will bring a Purchase Agreement back to the Board at a later date.
Staff feels strongly that the purchase of this building is imperative to preserve what little is left of Old
Boynton. Possible concepts for the property include a cultural center with concerts, plays, art, etc.
FISCAL IMPACT: None at the time.
RECOMMENDATIONS:
I . Direct staff and legal to draft a Purchase Agreement with the Boynton Woman's Club for the purchase of
1010 Federal Highwa)\ n the amount to be determined.
VIVIan L. Brooks
eRA Planning Director
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Women's Club. doc
ROBERT B. BANTING, MAl, SRA, PRESIDENT
State-Certified General Real Estate Appraiser RZ4
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FRANK 1. CARDO, MAl, VICE PRESIDENT
State-Certified General Real Estate Appraiser RZl 190
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'(<<<< <<<< <<<<<< <<<<<< <<<< <<<< <<<< <<<< <<<<<< <<<<<<<<<<<< <<<<<< <<<< <<<< Appraisers e Realtors )} )))))))))) )))~.)))))) )))) )))))))} )))))))))))))))) ))))))))}))))})))) )})))) }))))) "
52! SOUTH OLIVE A VENUE
WEST PALM BEACH, FLORIDA 3340]
www.andersoncarr.com
Telephone (561) 833-1661
Pax (56!) 833-0234
February 8, 2007
QY..81i1y' c3ervice c3ince 1947
Vivian Brooks
Planning Director
Boynton Beach Community Redevelopment Agency
915 South Federal Highway
Boynton Beach, Florida 33435
Dear Ms. Brooks:
At your request, we have appraised the Boynton Woman's Club located at 1010 South Federal
Highway in downtown Boynton Beach, Florida. The purpose of this appraisal is to estimate the
market value, fee simple estate, as of January 31, 2006. The intended use of this report is for
purchase considerations. The intended user of this report is the client, the Boynton Beach
Community Redevelopment Agency.
The subject consists of a two story historic building containing 12,621 square feet situated on a
20,125 square foot site located along the east side of Federal Highway and the west side if Isle
Road, between Southeast 10th Avenue and Castilla Lane, Boynton Beach, Florida.
The property is located within the Federal Highway Corridor, area four, of a redevelopment
area contained within the jurisdiction of the Boynton Beach Community Redevelopment
Agency.
The highest and best use of the subject is for continued use of the subject as a community
facility.
This appraisal assignment solely considers the Sales Comparison Approach in valuing the
subject property. The Income Approach has been omitted due to the fact that properties of
this type are generally not purchased for income producing characteristics. The property's
chronological age and historic relevance also have eliminated the Cost Approach as a reliable
indication of value,
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Vivian Brooks, Planning Director
Boynton Beach Community Redevelopment Agency
February 8, 2007
As a result of our analysis, we have developed an opinion that the market value
of the subject property (as defined in the report), subject to the definitions,
certifications, assumptions, limiting conditions, as set forth in the attached
report, as of January 31,2006, was:
TWO MILLION FOUR HUNDRED THOUSAND DOLLARS
($2,400,000)
The following presents a complete appraisal in a summary report. This letter
must remain attached to the report, which contains 56 pages, in order for the
value opinion set forth to be considered valid. Your attention is directed to the
Assumptions and Limiting Conditions, which follow.
Respectfully submitted,
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~B. Banting, MAl, 8RA
State-Certified General Real Estate Appraiser RZ4
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State-Registered Trainee Real Estate Appraiser RI16907
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03/07/2007 WED 12: 34 FAX 561 276 271;'>' J..Il..tt.m~n.\..JQW.L.La':l"''''w",''",~~-
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East Side...West Side-Seaside Renaissance
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13, 2007
AGENDA lTEM: X.H.
I Consent Agenda I
Old Business I X I New Business
Public Ilea ring
Otller
SUBJECT: Consideration ofIssuing an RFP for the Ocean Breeze site.
SUMMARY: The Ocean Breer.e site (formerly Boynton Terrace) is pivotal to the redevelopment
of the Heart of Boynton. Given its highly visible location it is imperative that this site be developed to
the highest possible standards.
The attached RFP seeks developers that will be sensitive to pricing, design, community input, resident
displacement as well has having the necessary financial capaeityto complete a project of this size. The
CRA can best control the desired outcomes for this project through the RFP process.
A five-member committee composed of CRA staff, City staff, and community members will review the
responses and create a short list that will present to the CRA Board at the June 12th meeting.
FISCAL IMPACT:
To be determined.
RECOMMENDA nONS:
Approve issuing the Request for Proposals for the Ocean Breeze site.
1(~~
V ian 1. Brooks
eRA Planning Director
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Larry T. chone
CRA Attorney
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The Boynton Beach Community Redevelopment Agency
Developer Qualification and Proposal Solicitation
Heart of Boynton -Ocean Breeze Site
City of Boynton Beach, Florida
Proiect Description
The Bayntan Beach Community Redevelapment Agency (CRA) is issuing a request far
qualificatians and propasals far the redevelapment af an eight acre vacant site lacated in the
Heart af Bayntan cammunity knawn as the "Ocean Breeze Site". The develapment af this
site is cansistent with recommendatians made within the CRA's Heart af Baynton
Cammunity Redevelapment Plan. The Plan's gaals are to. leverage the publicly awned real
estate asset to. support the redevelapment af the area . ncrease the residential appartunities
in the area, and to. pravide quality public e ents that imprave the recreatianal,
ecanamic, and cultural quality af life far resi The central lacation, proximity to. the
caastal area, and significant public suppart sap lady attractive develapment
appartunity .
Community and Economic Settine:
The City af Bayntan Beach, with a papulatian af abaut 6 is the third largest city in
Palm Beach Caunty, Flari t is lacated approximately 45 des narth af Miami and 15
miles sauth af West P .. This puts it in the heart af sautheast Flarida's rapidly
grawing tri-caunty ardIPalm Beach Metropalitan area.
h has direct access to the Intracaastal Waterway,
as a market af mare than 6 million people
access to. ee internatianal airports, two majar rail lines,
uter rail system.
By virtue af its laca
Interstate 95 and the FI
within a twa-haur radius a
as well as the Tri-Rail regiona
The Heart af Bayntan is baunde the west by 1-95, Federal Highway to. the east, the
Bayntan Beach Canal (C-16) to. the north and Bayntan Beach Boulevard to. the sauth.
Seacrest Boulevard runs narth-sauth thraugh the center afthe cammunity.
The Heart afBaynton Community Redevelapment Plan represents the secand afthe five-part
CRA plan update. The area consists af approximately 338 acres lacated immediately narth
and west af the histaric dawntawn care af the city. Accarding to the 2000 census, the area
cantained 3,193 people, 89 percent af wham were African-American with a median
hausehald incame af approximately $27,100.
. ,
Given the lacatian, histary and demagraphic makeup af the cammunity, there is a natural
cancern that redevelapment wauld mean "gentrificatian" and displacement af existing
residents. Therefare, respanses tO,the RFP shauld address this cancern.
Site and Strate2ic Plannin2 Considerations
All development proposals must include the following:
1) Enhanced streetscapes to encourage pedestrian traffic and encourage additional
private investment.
2) A covered trolley stop at Seacrest Blvd.
3) A site plan that conforms to accepted urban design principles.
4) An affordable housing component, a minimum of twenty percent (20%) of the
project.
Architectural and Desi2n Considerations
velopment standards that
Boynton Community
. c Design should be
lans will not be
The project should include quality architectural design
enhance the area and adjacent neighborhoods. T
Redevelopment Plan and the Heart of Boynton Master Plans & Scn
relied on for design guidance. Proposals that do not adhere to th
considered.
Commitment to the Proiect
The purpose of the Boynton BeacH.
redevelopment and civic improve
Redevelopment Plan enables the area to
a variety of activities associated with the
The Boynton Beach Community Develop
available for developments that meet the pro
ity Redevelopment Agency is to encourage
. designated area. The Community
. rement revenue that can be used for
Heart of Boynton community.
ect Incentive Programs may be
Documents Available For Review
e CRA's objectives, as well as the opportunities and constraints for
ollowing documents are available in electronic format and may be
tt ://www.bontonbeachcra.com
.
unity Redevelopment Plan
r Plans & Schematic Designs
.
Sealed developer qualifications and proposals will be received by the Boynton Beach
Community Redevelopment Agency at 915 S. Federal Highway, Boynton Beach, Florida
33435, on April 20, 2007 until 3:00 p.m. (E.S.T.). All of the following documents must be
submitted or the proposal will not be considered (original plus twelve (12) copies of all
, , documents and a disk containing the submission documents):
1. A written general statement of the qualifications of the proposing firm or entity,
including examples of experience with similar projects, as well as background
information on the principals. A copy of the most recent Federal Form 254 should be
provided, if available. If the selected development entity' is a public corporation, it
may also be asked to provide copies of its annual report or SEC filings as appropriate.
2. A certificate of good standing from the Secretary of State in which the
corporation does business.
3. A list of team members and their professional qualifications along with a list of
projects on which they have actively participated.
4. A written list of projects developed by the entity including photographs, addresses,
date the project was completed and general project description.
5. A detailed description of the proposed project, with text and graphics. This should
include a schematic site layout plan, proposed density, parking locations, typical
floor plans and elevations. If the project is to be phased, please describe the phasing
plan and timing.
6. List of the number of units and types, including number of bedrooms, rental or for
sale units, etc. Please estimate the number of units and type of units that will
meet HUD's definition of "affordable". Such estimate not to be less than twenty
percent of the total project.
7. A preliminary estimate ofthe total project cost, including any required
infrastructure costs, along with the types and sources of financing including
public subsidy, if any.
8. Proposer must demonstrate extensive experience with obtaining project based
subsidies for affordable housing by listing projects and the amount and type of
subsidy utilized.
9. A signed written statement outlining the role a local non-profit Community
Development Corporation would play in the proposed development project.
10. A signed written statement committing to using local residents in the development
of the project.
11. A signed written statement to purchase the property indicating the proposed purchase
price along with a statement of willingness to execute a Purchase and Development
Agreement within one hundred eighty (180) days of selection if selected as the
qualified proposer. Any Purchase and Development Agreement ("Agreement") will
contain performance criteria, agreements for time limitations for having funding in
place and construction to commence, limitations on transferability or assignability of
the Agreement without prior approval from the CRA, termination provisions for
failure to meet the criteria listed and other provisions to adequately define the rights,
duties and .obligations of the parties.
2
12. A signed written statement indicating what percentage of the total units will be
subject to a community land trust to be selected by CRA.
13. A preliminary commitment letter from a credible lending institution to fund the
purchase of the property.
14. Proof of financial capability to complete a project of this scope. Financial
information should be submitted in a separate, sealed envelope or package and
marked 'confidential'. Financial information will be accepted onlv from the
proposing entity.
15. A letter attesting that the respondent has read and understands all procedures of this
RFP.
16. A promotional PowerPoint presentation, consisting of 10 to 15 slides.
Offerine:
The Boynton Beach Community Redevelopment Agency is offering for sale an approximate
eight acre vacant area (See Attached Site Map), located along Seacrest A venue. This site has
been selected for its high visibility and the opportunity to kick start the redevelopment of the
community.
It is expected that the new development will compliment (not replicate) the existing physical
character of the community. Accordingly, building heights should not exceed 35 feet and
the style; color and building materials should reflect the sub-tropical characteristics of south
Florida and the Caribbean (Floribbean).
It is further expected that the development proposals will be consistent with the Heart of
Boynton Community Redevelopment Plan, include additional amenities, as well as enhance
or improve existing community assets. Overriding goals include quality design through the
use of urban design principles, the use of alternative energy sources, encouragement of
various modes of transportation and the provision of affordable housing
Respondents are encouraged to exercise creativity in defining a concept that satisfies the
vision of the redevelopment plan, applicable zoning or entitlements, and sound real estate
development practices. Additionally, the proposal shall include the enhancement of public
spaces as indicated in the Heart of Boynton Redevelopment Plan and the Heart of Boynton
Master Plans and Schematic Design.
Zonine:
J,
The current land use designation is High Density Residential and the zoning classification is
Multi-Family (10.8 du/ac). Proposer may request that the property may be rezoned to Special
High Density and Infill Planned Unit Development (20 du/ac). The Boynton Beach
3
Community Redevelopment Agency will be cooperative partners in pursuing any permits or
approvals that may be required to expedite the selected development plan.
Process
A five-member committee composed of Community Redevelopment Agency staff, City staff,
as well as selected members of the Heart of Boynton Community will conduct the initial
evaluation based upon the following criteria:
1. Experience with development in markets similar to the project area.
2. Ability to proceed immediately from a financial and organizational
perspective.
3. Adherence to the adopted Heart of Boynton Community Redevelopment
Plan
4. Experience in obtaining project-based Florida housing subsidy funds.
5. Project design, amenities and public benefits.
6. Experience with working with local non-profits.
7. Commitment to use local residents in the construction of the project.
8. The percentage of units to be dedicated to the community land trust.
j,
The three highest ranking proposers will present their PowerPoint slide presentation before
the Board of the Community Redevelopment Agency at their regularly scheduled meeting in
June.
At the conclusion of the public presentations, a developer will be selected and the
Community Redevelopment Agency. The Community Redevelopment Agency and the
successful proposer will then negotiate a Purchase and Development Agreement for the land.
Should a Purchase and Development Agreement satisfactory to both parties not be able to be
agreed upon within one hundred eighty (180) days of the selection of the successful proposer,
either party shall have the right to terminate the negotiations. Upon termination, the
Community Redevelopment Agency shall have the right to resubmit the project for requests
for proposals with no further obligation to the successful proposer.
It is expected that there will be no communication with parties other than those specifically
noted herein and such communication will be exclusively for clarification regarding
procedures and objectives. The Boynton Beach Community Redevelopment Agency
prohibits communication to or with any department, bureau or employee during the
submission process. Communication with any parties for any purposes other than those
expressly described herein may cause an individual or firm to be disqualified immediately
from participating in the development solicitation. All questions or inquiries should be
directed to brightli@ci.boynton-beach.fl.us.
It will be necessary for responding parties to comply fully with the general terms and
conditions outlined in this document if they are to be considered.
4
Anticipated Schedule and Sequence of Events
The Boynton Beach Community Redevelopment Agency has established a schedule for
submitting qualifications and proposals and for completing selection of the preferred
Development Team. Respondents shall assume full responsibility for the timely delivery of
the qualifications. Qualifications received after the deadline stated will not be considered.
The Boynton Beach Community Redevelopment Agency however, reserves the right to
amend milestone dates.
Initial submission of qualifications and proposals due by: April 20, 2007 at 3:00 p.m.
Pre-proposal meeting: March 21, 2007 at 9:00 a.m. at the CRA offices
Announced short list of qualified Development Teams: no later than May 1 I, 2007
Comprehensive responses due from short listed firms by: June 1,2006 at 3:00 pm
Presentation to CRA Board by short listed teams: June 12, 2007
Initial negotiations with preferred Development Team by: July 30,2007
Contacts
All correspondence and requests for information regarding the Heart of Boynton community,
in general, and this project in particular, should be directed to:
Lisa Bright
Executive Director
Boynton Beach Community Redevelopment Agency
915 S. Federal Highway
Boynton Beach, Florida 33435
Phone: (561) 737-3256
Fax: (561) 737-3258
j,
5
CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM
I certify the firm of responding to this RFP
maintains a drug-free workplace program, and that the following conditions are met:
(1) We publish a statement notifying employees that the unlawful manufacture, distribution,
dispensing, possession, or use of a controlled substance is prohibited in the workplace; and
specifying that actions will be taken against employees for violations of such programs.
(2) We inform employees about the dangers of drug abuse in the workplace, the company's
policy of maintaining a drug-free workplace, any available drug counseling, rehabilitation,
and employee assistance programs, and the penalties that may be imposed upon employees
for drug abuse violations.
(3) We give each employee engaged in providing the commodities or contractual services
included in this RFP a copy of the statement specified in Subsection (1).
(4) In the statement specified in Subsection (1), we notify the employee that, as a condition
of working in the commodities or contractual services covered under this RFP, they will
abide by the terms of the statement; and will notify the employer of any conviction of, or plea
of guilty or nolo contendere to any violation of Chapter 893 or any controlled substance law
of the United States or any state, for a violation occurring in the workplace no later than five
(5) days after such conviction.
(5) We impose a sanction on, or require the satisfactory participation in a drug abuse
assistance or rehabilitation program if such is available in the employee's community, by any
employee who is convicted.
(6) We make a good faith effort to continue to maintain a drug-free workplace through
implementation of this section.
As the person authorized to sign the statement, I certify that this firm complies fully with the
above requirements.
Authorized Signature:
Date
Name & Title (typed)
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ill East Side-West Side-Seaside RenaISsance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13, 2007
AGENDA ITEM: X. B.
I Consent Agenda I
Old Business I X I New Business
Public Hearing
Other
SUBJECT:
Consideration of Sponsoring the A venue of the Arts
SUMMARY:
CRA staff has been working with Debby Coles-Dobay, the Public Art Coordinator for the City to come
up with a plan to display public art to create an "A venue of the Arts" on Ocean A venue. By using
publicly owned sites and some privately owned ones, staff has identified potentially 10 sites for public
JII"" art along Ocean A venue. The art will be on loan to the City. New art will be installed on an annual
basis.
10 Public Art Locations
Structural engineering ($ 350.00 per spot)
Pad construction 8' x 4' x 12" thick (includes 2 flood lights)
$3,750.00 each
$ 1,050
$ 37,500
Stipend to each artist for shipping and installation
@ $1,000.00 each
$10,000
plaques $100.00 each
$ 1,000
$ 1,000
$ 7,650
$ 58,200
Insurance for art
Contingency costs 15%
I,
TOTAL
" ..
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Avenue of the Arts.doc
~
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rl!J~~Y~T8OCRA
ill East Side-West Side-Seaside RenaISsance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
Staff believes that this project will bring new energy to Ocean Avenue by encouraging people to walk
from the Intracoastal to Seacrest and therefore supports funding the cost of the bases for the art.
FISCAL IMPACT:
A one time cost of $40,000 from general revenue.
RECOMMENDA TIONS:
Approve funding $40,000 to the City for the cost of the bases for the Avenue of the Arts project from
account 58300-200.
~ .( --ita 2~j
Vivian L. Br60ks
CRA Planning Director
I,
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T;\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Avenue of the Arts.doc
Art in Public Places
presents
"Avenue of the Arts"
May 2007
Revitalizing our community!
The City of Boynton Beach Art in Public Places "Avenue of the Arts" program is dedicated to
attract visitors to Boynton Beach to invigorate the revitalization of downtown Boynton Beach. The
"Avenue of the Arts" is a year long outdoor public art sculpture exhibit beginning May 2007.
The "Avenue of the Arts" consists of Public Artwork that is strategically placed to encourage
visitors to travel the Avenue to view each sculpture. As they travel the streets in downtown
Boynton they will be exposed to the many projects that are being developed. This exposure to
Boynton's revitalization will stimulate economic development, attract visitors and improve quality
of life. The "Avenue of the Arts" will showcase Boynton Beach as a destination to relocate their
residence and businesses!
Sponsorship Opportunity
The "Avenue of the Arts" is offering sponsorship opportunities for individuals, businesses,
development projects and corporations. By sponsoring cultural events you will demonstrate your
commitment to making Boynton Beach a premier place to live, work and play!
Did you know?
. The arts produces over 5 million American jobs annually.
· Public Art creates a positive image and identity.
· Creates a sense of civic pride.
· Attracts visitors.
· Increases quality of life
· Is a key component to revitalization and development.
"Avenue of the Arts" building a F~ture
"Avenue of the Arts" program serves as the catalyst for policies, programs, and projects that
encourage economic and cultural development on the "Avenue of the Arts" and the promotion of
the Avenue through marketing, beautification projects such as streetscape maintenance, and
careful planning and research for sustainable growth.
"Avenue of the Arts" current Amenities
City Hall
The planned "Avenue of the Arts" route begins at the Boynton Beach City Hall on the corner of
Boynton Beach Blvd. & Sea Crest Blvd. This is the welcoming area for visitors to downtown
Boynton Beach. The City's marquee promotes events and notices. A prominent sculpture will
attract visitors attention to the marquee. The "Avenue" continues south to Ocean Ave. and heads
East towards Federal Hwy. Along this route are many of the City's celebrated facilities.
The Library
The Library's expansion is underway. By fall 2007 it's 62,864 square foot space will be welcome
visitors to the new state-of-the-art facility.
Civic Center
Next to the Library is the City's Civic Center. It is a 60's styled building that hosts many of the
City's activities and programs. Many visitors come to enjoy big band concerts, dance, jazzercize,
Tai Chi and even needle point and language classes.
Art Center
Behind the Civic Center is the Art Center. The Art Center offers after school art classes and Art
Camp for children of all ages.
Old High School
On the north side of Ocean Avenue is the Old High School. This 1927 historical building is planned
for renovation and use as a cultural center with an educational component.
Schoolhouse Children's Museum
Next door is Boynton's prestigious Schoolhouse Children's Museum. It is another historical
renovated 1913 building. The museum was awarded South Florida Parenting Magazine's Best
Children's Museum 4 years in a row! The museum's programs educate children, their parents and
grand parents about the history of Boynton Beach and South Florida. The Museum receives over
35,000 visitors annually.
Community Redeveloping Agency
Ocean Avenue is the location where the CRA hosts concert events throughout the year. Popular
artists that have performed in Boynton are Copland Davis, Nestor Torres, Crystal Gale, Gatlin
13rothers and Cool and the Gang along with local talent. These events are complimented with local
vendor booths. In year one, these con~rts drew over 10,000 visitors to downtown Boynton.
Existing Business, Development and Redevelopment
Further down Ocean Avenue where it meets Federal Hwy.
visitors will discover unique shops, businesses and
restaurants. This is the location of the the City's Holiday
Jarade celebration. Ocean Plaza is a quaint seaside
plaza that hosts many events throughout the year. Visitors
will see the future home of many prestigious mixed use
developments that are building in downtown Boynton
Beach. When you reach the Intracoastal Waterway there
is the newly completed Marina Village and the City's
prime waterfront area. The marina area offers many
things for visitors to do from fishing, diving and boating
trips to dining and dancing along the waterfront.
Streetscapes, Promenades and Waterway Access
The Boynton Beach Extension streetscape linking the Promenade to the Marina Area received the
Florida Redevelopment Association 2006 Capitol Projects Beautification Award. This streetscape
also offers the quite retreat of Pete's Pond and a stroll along the Intracoastal through the
mangrove nature preserve.
Celebrating our Community.
"Avenue of the Arts" celebrates and generates awareness of the City's amenities and cultural
offerings by featuring Public Artwork along the avenues in downtown Boynton Beach. The
"Avenue of the Arts" will continue to keep this yearlong outdoor artwork fresh by inviting notable
local and national artists each year. The public can purchase the artwork with proceeds going to
fund the programs future exhibits. The "Avenue of the Arts" will kick off of the yearlong artwork
lisplay with an event that connects the artists with the public. Visitors can learn about the
artwork, how and why it was created by interacting with the artists. Area business will benefit from
kick off event and the attraction of the "Avenue of the Arts" throughout the year.
FOR MORE INFORMATION ON SPONSORSHIPS, SUPPORT
AND INFORMATION CONTACT
Debby Coles-Dobay, Public Art Administrator
City of Boynton Beach
100 E. Boynton Beach Blvd., Boynton Beach, Florida 33435
(561) 7426026 phone (561) 742 6089 fax
colesdobayd@cl.boynton-beach.fl.us
www.boyntonbeacharts.com
, ,
AVENUE OF THE ART 2007
Featured Artists
Penny and Cobert Collins
This husband and wife are both Internationally renown sculptors with
artwork shown in designer showrooms, galleries, museums, private
homes, institutions and corporations. They exhibited in the prestigious
2006 Palm Beach International Biennial Sculpture competition in South
Florida.
Claudia Jane Klein
Claudia a well known sculptress started in the New York Fashion industry. She
continued on to study metal fabrication and welding in NY and Florida. She
has accomplished many private, corporate and public commissions. Her focus
is on a abstract figurative series and has just completed a large organic
fountain commission. She was also exhibited in the 2006 Palm Beach
International Biennial Sculpture competition in South Florida.
Tom Brewitz
Tom Brewitz, artist, sculptor, writer and
designer has an extensive career that
spans 25 years. He is known for his
kinetic sculpture with brushed stainless
planes that move gracefully, reflecting the
surrounding environment that draws the
viewers to it. His artwork provides
entertainment that is a changing
drama of color, shape and
whimsy.
Steve Dileonardo
Steve is a local artist who has impeccable talent for steel
structure and finish work. He has created commission work
for several corporate clients and is building his portfolio in
Public Artwork.
Genevieve Steel
Genevieve creates art ideas that transform lives. She is an
accomplished designer and artist who as formal training in
fabrication and installation of steel artwork. Her work
ranges from large scale mixed media to welding of massive
sculptures.
Douwe Blumberg
Douwe began his career as a professional horse trainer in
California. When he started sculpting part time he began
to accept commissions and was forced to make a choice
between the two careers. Douwe has completed over 200
private commissions, including pieces for The Budweiser
corporation, actor William Shatner, Elisabeth Goth, Misdee
Wrigley and the ambassador of Bahrian. Douwe has many
commissions place in public institutions worldwide. He
exhibited in the prestigious 2006 Palm Beach International
Biennial Sculpture competition in South Florida.
Frank Varga
Frank has been sculpting his entire life. A talent he inherited from his father and past to his son,
Frank has studied globally from Florence, Italy to Honolulu. He has commission work worldwide
with sculptures ranging in size and materials such as wood, metal and stone. Frank is know for
his monumental artwork such as the piece titled "Immigrants" that faces the US on the coast of
Germany. He had his portrait of John F. Kennedy in the White House and a bronze portrait bust of
Pope John in the Vatican.
Beth Ravitz
Beth is a well know public artist with her
base in South Florida. She has created
Eternal Flame memorials, the Multi
Cultural Garden, Southgate Linear Park
Sculptural Fence, a functional courtyard
structure for the North Broward County
Homeless Center and sculptures for the
everglades park. Her forte is working with
the community to produce public artwork
that is a collaboration with the project and
contributed by the community.
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East Side-West S'lde-Seas'lde Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
AGENDA ITEM:
I Consent Agenda
SUBJECT:
March 13, 2007
Old Business I X I
New Business
Public Hearing
Other
Request by Lasendra Hoggins for Homebuyers Assistance Program Funds up to
an amount of $47,000.
SUMMARY: Ms. Hoggins is purchasing a new home from the Boynton Beach Faith Based CDC.
The home is located at 508 NW 12th Avenue. The home is appraised at $225,000. CRA funds comprise
21 % of the appraised value of the home.
Purchase Price:
Closing Costs:
Total:
Down Payment:
Mortgage:
Gap:
FISCAL IMPACT:
$157,926
$ 8.000
$165,926
$ 4,738
$115.000
$ 46,188
$47,000 from Bond #2 proceeds.
RECOMMENDA TIONS:
Approve Lasendra Hoggins request for Homebuyers Assistance Program funds in an amount up to
$47,000.
~~~~
CRA Planning Director
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\HAP Hoggins.doc
,I
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5 he'o'" ~gre. ~hall ell and EltJy~r sllall buy Ihe 10l/owinQ d(,;rJJb~~ ,ea'p,operly And "ersonal proporly (COlloollvely 'Propelly; pursuanllo Ih.'erms and COlld,lIo oIlhls Conlracl
6J~ 1lleJIPurch859 ~nd a 'Id~ts 8(ld'sddendo ("Conlrac'''): :
7, CIlIp110Nf j)'. II 1')'[ L i<;. s r.2 -I- \~~ C/,. _ _ , /l y.,__
'I .., Lagal j"Onpllon 01 ja Ileal Pro"e'ly Iocaled in --- ~ 'L1. --2-.- '.ll.~.~. Counly, FIDlll/a: _E.__",- _____ --_;'::'..L_~__ ----1--'--s.
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PAYMENT: I L t I/. JJl! ~:> s-., ,
(a) Oapo., helelln ~SClO\ by J::!f""~-..E.':.!fL.!1!1.::/ >'-- .!.."::-'-'-'i!...!;"L:LJ__ (f.crow AOonl) In Ihe arnounl 0/ "" """"'"'' .", ...". .... t _ _ ~_ ~
lb) Addlllonolo.crow dep silo be mede 10 Escrow Agenl will III __ dnys allel Ellacllve Dal. (s.e pnragr.ph III) In Ihe amounl 01.. "., ........ ..... $ __ _ ___
IcJ SU"Ied 10 AND :ooslln pilon 01 e".ling morlgage In lIoed la",/lng., lava, 01 ________________
-_..havlng an appro"male presenll"'nclpa/ balance 01. '........ ......... ... ...... $ _
(ef) Now IT"'10age IInnnnl g wllh a L,nder (see Paragmph I In '''a a"'Ounl 0/ ____________ _______ . ....... .$ __ ____
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'TIME FOP: ACCEPtANC OF OPFER; EFFECl1VE DAtE; ACS/MILE: IIlhls ollar Is nol axaculed by end delivered 10 all p,ulles OR FACT OF EXECUTlOfl eommUfk:aLad in wlillng
Iween Ih"pames on pr bel re '--------..:.-.-.:... _, Ih. r1epp.l1ls) will, al Buyar', opllon, be relumed end Ihls olrer ""hdrawn. For purpo.es 01 rlall el)' or.nollce 01
,culloh, pnrll.. Inch,de Buy r and Sale, or each ollho re.pac., brokor. or oilQrneys. Tha dale 01 COnhACII"Ellocllve Oala7 will be '''a dal. whelllha 1..1 ana 01 'h. "yer 'nd Sollar
' slgnad IIIIs <.lIar. A 18cslm/. copy 01 Ihis Conhaci .,~' allY sllf ,,'u,a. haraon shan be CClls/rlorad lor all p"rposas as an orlglnol.
t:INANl~'NO: I
~) 1hl, is a cash Iran acllon wilh no COnllnganclas lor II/l 1I01ng; " . ,_ .
Wlbl tIli. Conlroclls DC dilloned all Buyer oblalnino. wrill noon eD(1unllmenl wllhln {QQ days allar Elle"IIve /Jal.lor (CliECI< ONLY ONE): Q.a'nxed; 0 an aIUSI'hl': or 0 0
lixad or~~.lable relalo n In Ihe prlncipalomounl 01 $.J.h ~-Q.~c.:~_.._, alan llIlIial','er..1 rala HOllo excaed _~" dlscounlend origlnallon ra.. nollo e. ead __% 01
pr/nclpala,m"nl. and lor lerm 01 -'--.. yaers, BlIyer WT,j '!'" appllceliOJHAlhi" _ days (5 days 1/ lell blank) alia, Elfocllvo Dale end u.e raa.onable diligence 0 o)laln e loan
r.onunlllil." and, Ihareall r, 10 .al/.Iy lelrn. alld condilions 01 'a comrnlhnenl !lnd closa Iheloan. BuYor 'ha" pay all loan expensos. If BuYel I"IIs 10 oblaln a (omml1menl or/alls '0 walvo
OUyer's r~i;S under Ihls ~.'bpiuaurB, ph wi.1 hln Ihe lImo tor obi Inlng a cdmmllmenl Of. aile,' diligent ef'ol(, falls 10 meel fha lorrns anCl COlldl/lons 01 the com,m IImenl by 118 dos Iflg dale,
Ihen allh" f~lly Iharealle by wllllen nollce 10 Iha olher, may "nee) Ihis Conllacl and Buyar shall be r.llInded the dapo,/lls): Of
o (c) Th, ""Isllng Inodg go, described l/l Paragreplll.I(", ab a, has: C1 a ""'able Inlerasl ralo; or 0 a IIxad Inlaresl rolo 01 ._-,/. per annum. AI lima 0' 11110 Iran lar, some lI,ad
Irilere.1 ralos Ora sob}ecl 0 Increa.o: 1/ Inclaasad. Ihe r!lla s Inll nol excaad "__~. per annum. Sellar shalllumlsh a sle'emonl.'rom each mOdgag,. ,'allno Ihe pr nclr~1 balonce.
malho" OI,:>8)'menl. Inler 51 rale and slalus 01 modgage '01 e /Ihorl,e Buyer or Closing Apanllo oblaln Iha same, 1/ Buyor has agreed 10 assume e morlg,ge Which re ulr.s approval
01 Buyer b', "'e morlgage lor a..umpllon, 'hen Duyer shall/, ompl/y oble/lllha naees.el)' appllcollon an<l dlllgenlly compla'e and r.'urn 1110 lI,e mOltgagee. Any mMg ge. chergals).
"la' fo exceed S (1% ot nmOUT111,,;umed ~llell hlllni,). shal/ be paid bl' BuYar. 1/ BuY.r Is nolaccaprod by morlgAl/aa or I/\e raqlli,e",anl, lor ,"sllmpllon
", nol in ,",co,dMce WIiI Iha 'erm, or Ihl.. Conlraol or morl egae ilia 'e. a Charge in exce.. 01 Iha slaled amOlll11. S.lIel or Buyar m"y 'a''''l1d Ihls Conllael by w,l/\ n IX,'ice 10 Ihe
llher parly unl... ellhor e acls 10 pay Ih, ",cree,e in h,ler.sl ;ola or ."oe.s /l'orlgaga charge..
TfLE IIVIDENCE: Alia. ]Q..Uays balore closing dale, I 'HEC/< O~/LY ONE): 0 S.ller shall, al SeUer's expellsa, deliver 10 Buyer or Buyer'. .1I00ney; or Q BuYar halal Buyer's
,se obl,1n I-:HECK ONL ONEI: 0 ebslracl oIl/lie; or 1jJ, '\a .,surAnce cornml/melll (wllh leglhle copies ollnslrumanls I/sled as excopllon. aI/ached Iherelo) ancl, "ar closing, an
's polhry 01 Jillo Insurane . .
L9--' .TE: This Ira .,"cllon shall ba cloo.d e"d Iha cl ling dOclllllenl. dellve'ed on _________, un/ess mo,Jlllad bl' olho, provi"on. 11"1s Conlrae/.
EI NS; EASEM NTS: LIMITATIONS: Buyer shall ahe IllIe sUbJact 10: comprehensive IMd use pians, ,onlng, reSlrlel/olls, Ploh/blllona and olhar re/f.clleme'ls Inposed by
mi. ,'orlly; leslrlcl n. end mailers ,ppea,lng 011 Ih, Inl or olhe,wI" common 10 Ih, SIlWlvlslo,,; olllS/Andl"g 011, gas and IllI:1eral rlgll/s or record Wllhoul rlghl 01 rnlr{, r ;hll,;
a,S Elmella'of Teco.' d le8S~tnDnlS are 10 be 'oealed conliguotl. 10 reaf l;ropo,., y Rn~5 and nol mOte Iholl 10 '~el III Wll11h as 10 the reAr or fronl fines and 7112 feet In widl as II' Ilia Slcle.
nle.. o",",wl.. slsle hareln): lex.a lor yaar 01 closing lid SUbS"'lllenl years: B.sumed mOdgages ancl purcha.e mOlley Illorlgage.. 1/ any (1/ addlllonal lIam.., a Be'dandllm);
d, Iha. !hera exlsls al cl sing no vlolAl/on ollha 10'.golno e' d nolle ""ve,,1 IIse 01 'he Prnpel'y lor -_______ _ pllrpo.e(u)
:dUPA~'CYi Sall.r wa, rOs /hellhere are no pa'"es In OC IIpancy O/l1er IIlill' Salle,; bUI II Propa"y Is InlendeU 10 be renled or oCCllplad heyond closing, Ihe 'acl en leans Iharaol
lenanl(s) or occupanl. h.n be dlsclosad PllI,lIanllo Slsn. lard F. Sol/er sliall dellvo.. OCcupancy 01 P,opelly 10 Buyer alllme 01 Closing unless olherwl'e s','ed helal . /I occupancy
dilllvele.;! belore Closln , Blrye, a..uma. al/ rl."s olios., 1,'Propedy'lrom dale OlOCOu/Jancy, shall "" le'/Jonslbl. el1d lIabla lor malnlenence Irom Ihal da'e. and., all be desrnnd
e"coplad Properiy In II .xlsllng COndillon as 01 I/l1Ie 01 lek ng ocouoollcy unlass oll,eowlse ".'ed her. In.
'EWRlrTEN DR'HAN. WRITTE1-/ PROVISIONS: typaw,; an'o; han<lwrlllon provisions, rldols Illld '''delllla .hall cnnlroi all prlnled prnvlslons ollhls Conl:acl., On lIIel '.V;lh I',am.
ERS: (';HEClll~o.e , rJere whlcl, are ap)lllc.bla MH) ere .lIacherJ 10 11,1. ConlreCI):
o €OLlPREHENSIV RIDER 0 HOMEOWNERS' ASSN. 0 COABTAL CONSTRUCTIOIJ NTROl.lINl'
o CO'JDOMlNiUM 0 'AS IS- . 0 INSUI.ATlON
o VAlFHA 0 LE,\O.BASED PAINT 0
'.GNABILlTY: (el I ONLY ONE): Buyer C}I11.y nsslg 1 and Ih..ahy bn rel..sorl lrom ellY IUrlher lIoblllly undar Ihls Conlracl; 0 may asslUII b,,' nol be ,alags dlrom lIablllly
; CC1nIJ_!CI; Of GiJ nay 10t assign this COnlrne/.
:LOSURES: . ,
ado/) 1$ ft nflluraUy OCC IJmg rBcflOa9ltvB gas ~Ial wI'en ac In a bUlldhtg In suliclenl quanlll/es may Plesel1l healll, nsllS 10 p".on, who ara .xposed 10 II oval II1l\e evels of redon
.Iux",ed leder~1 and lala goldellllps l."vol elllound in h Flnllda, Addlllonol k,lom,al,., leoarcllng AallO/, or AedollleSllng may be oblalned/rolll YOllr C.owliy PII~IO Ileallh unIl
JYlr, ";knOwledges I ealpl 011/.. Flo"da Bllldlng Elle, r Rall~g Syslel11 Broehllra,
'ha real property ;'cl da. ",e-\9ta r."dell/al hpuslng 1/ ell a 'eae-ba,.u palnl rlda, IS/llalldalol)'.
>.Rer Is a "Iorelgn p Son" os d."nad hy Ihe Forelgll lllv S1mBllI,. Aee~ Propelly Tax Ael, Iha pal~as .h.II r.omply Wllh "'01 Ac/.
luyer \011/1 bo O~lIgal~ 10 ba a n;.mb~r 01 4 homeowner' essoclallon, BUYER SHOULD NO r EXECUTE TIllS CONTIlACT UNTIL BIIYEn IMS RECEIVED A D F'EAD THE
lMEOIYNERS ASS CIATlON P/SCLD9~RE.
..liJM REPAIAICOS~: Seller s!lall nol bEt .~8sJ>onsfb'e I r paymenls In axcess 01. j>.
------~-.. --- lor Ir.almarl alld repair' /I'der SI'l1dord.D '" blanll, Ihen 2% ollho P"rchasa Price).
--.--.--- - lOr.lopalr a.n<1 "placom nl ""dar Sland~"f IJ III blank, Ihon 3% ollhe Pureh.,a Price).
At. CLAUSE~; Ai) ENDA; II ~rJdlllQnell~rms ara Ie Ii 11Iovlded, '"oqh addoru/llm alld CHECll HERE O.
'ARDS FOn /lEAL E.STATE TliANSACTION9: Sland rdri A '1I10l/Vh W Oil Ihe raver$O .Ide 0' ellached a'e ',w;OIporo'ed a. e pOlio' II,/s ConI/act.
nlls IS INTEl/DE TO BE A LEGALLY:tlIlJlJlNa c. rlffiACI. IF N()T FULLY IJfJDERSTOOD, SEEI< TIlE ADVICE OF AN ATTORNEY PRIOR 1'0 SrGNIN .
THIS F<ilRMHASBE"EN APPA. VED 8~' TtlE f'LOAlDAASSOCIATlON OF REALTORS AN/J lHE FLORIDA BAR,
n opllllon I/,al allY o{~ha lallll~ Bn, ;condlJlons ill Ws COlllracl shol/id ba a<:cepIBd hr Ihe pailies in a partiCUlar Iran.Bellon. Term. anil con1f.llonJ "lOlIld
b. n"yo';.I.d'b~SBd /lpon II. .,aspeclha .,'eia.'s, obioolA'as Md bRrgalning positlolls o{an "''',asled parsoll..
~<l_. ~:':".. J'i~'l;":;m"~~,,,,;""' ,,__ :,U~.,,:~
:~~":-~' ~~!'~-I=:,.,_n,_ ::'.,"'"'--==-~,
,')x '~ H - --..--.-------f--- · Social SecWlly 0' TRX I /J. # _____________ ) .
,! (a/ ecelved, IF OTHER t/iAN CASH,. HEN SUlJECT TO CLEARANCE --. - ______ ( .crow Agenl)
~\ lers 'elned below, InclUding 1iB/lng ond r. erall,~ hrokers, are Ihe only brokers e'"I1I." 10 compensallon In connecllon Wllh lI11s OOl1lrael: ,
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;n;m;geloher ,rr.ny--------_ -----. lTsi/llg Braker ________-,_
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SUMMARY APPRAISAL OF A PROPOSED SINGLE FAMILY RESIDENCE
LOCATED AT:
xxxxx NW 12TH Avenue
CHERRY HILLS, BOYNTON LOTS 392 & 393
Boynton Beach, Florida 33435
FOR:
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Boynton Beach Faith Based CDC.
P,O.Box 337
Boynton Beach, Florida 33425
Attention. Gerone Powell
AS OF:
May 4, 2006
BY:
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Anderson & Carr, Inc.
521 South Olive Avenue
West Palm Beach, FL 33401
Office (561) 833.1661
FAX (561) 83~.0234 .
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Anderson & Carr, Inc.
Form GA2 - 'TOT AL for Windows' appraisal software by a la mode, inc. - 1.800.ALAMOOE
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!Rie'No. 2~03171 Paoe #21
26'0317
Pro ertvnescrlntlon UNIFORM REiSIDENTIAL APPRAISAL REW>>ORT. Flle~o. 260317 i
Prooertv Address uxxxx NW 12TH Avenue Citv Bovnton Beach State FL -I Zio Coda 331135
Leaal Descriotion CHERRY HILLS. BOYNTON LOTS 392 & 393 COua;;;P.alm' Beach
Assessor's Parcel No. '08-43-45-21.14-'0'0'0-392'0 Tax Vear 2'0'05 R.E. Taxes $ 36'0.'0'0 SJecial Assessments ~ N/A -
Borrower Boynton Beach Faith BasedCDC Current Owner Bovnton Beach Faith Based CDC ncr.uoant: r l Owner! r l Te ant ,!Xl Vacant ,
Prooertv riohts aooralsedlXl Fee Simnle rl Leasehol~ Proiect Tvoe rl PUD r-1 Condominium IHUDNA onlv)! HON N/A. IMoi
'iahborhood ar Project Name Cherry Hills Mao Reference 99 Census Tract '061,'0'0
,ale Price $ N/A Date of Sale N/A Delliil1!ipn and $ amount 01 loan charoes/concessions lomaid b" seller None
Lender/Client Bovnton Beach Faith Based CDC. Address P.O,Box 337 Bovnton Beach "Iorlda 33425
Annraiser Jonathan P. Franke Address Anderson & Carr Inc, 521 S Olive Ave West Pahn Bch. FL 31l4'O1
Location 0 Urban. ~ Suburban U Rural Predominant p~rCl1e famlfy ho~~~g Presenlland u~e % . L4nd use change
Built up k8:J Over 75% 0 25-75% 0 Under 25% occupancy $(OOO) (yrs) One family ~ k8:J Not likely 0 Likely
Growth rate 0 Rapid [g) Stable 0 Slow k8:J Owner ~ Low ~ 2.4 family ~ 0 It process
Properly values 0 Increasing k8:J Stable 0 Declining 0 Tenant 345 Hioh 44 MUlli-family _ To.llifu
Demand/supply g Sb.o(1!lge k8:J In balance g Over supply ~ Vacant(O-5%) I:, [Predominant [I.' 'commercial S I
Markebnn time I I Under 3 mos. iX1 3.6 mos. I lOver 6 mos. I I VacJover 5%\ 228 3'0 Vacant 5
Note: Race and the racial composition Df the neighborhood are not appraisal factDrs.
Neighborhood boundaries and characteristics: The SUbject Is located south of Gateway Boulevard, east of 195, nort" of Bo ton Beach
_ Boulevard, and west of U.S. 1.
Factors that affect the marketability of the properties in the neighborhood (proximily to employment and amenities, employment stability, appeal to. marke!, et .):
. The- subject neiahborhood is in close oroxlmitv to transoortatlon. schools churches" shoonlno. emolovment cent rs IInd
.. entertainment. Most of the homes in the sublect nelahborhood were built from the eariv 19.7'0'5 throuah tbe earl 198'0'5. The
area has above averaoe anneal to the market, New Imorovements are be/na made to vacant lots In the nelnhborh od.
Anderson & Carr, loc.
Market conditions in the subject neighborhood (including support fbr the above conciuslons related to the trend of properly values, demand/supply, and mark ting time
.. such as data on competitive properties for sale in the neighborhood,_ description of the prevalence of sales and financing concessions, etc.):
Prooertv values In the subiect area have been stable over the last several months. SII.,n(v IInd demand aolnear to be In balance.
Averalle IOxOosllre/marketlna time Is three to six months In the sub"ect neighbOrhood If tile p~oertles are' comole Ivelv orlced. No
financina concessions known. Mort~e money is readlll' available at comoetltlve rates.
Project tnformallon for PUDs (If applicable) - - Is the developer/builder in control of the Home Owners' Association (HOA)? 0 Ves ~ I No
Approximate total number of units in the subject project _ Approximate total numbel nf unils for sale in the subject project +
Describe common elements and recreational facilities:
Dimensions 5'0' X 1'02' No Survey Provided. See Plat Map. ,_~ Topography Sanll level abv, road arade
Site area 5,1'0'0 Corner Lot k8:J Ves 0 No Siz~ Averaae for area
Spect!ic zoning classification and description R2, Multiple Family Residence District Shape Rectanau/a
Zoning compliance [g) Legal 0 Legal nonconforming (Grandfathered use) 0 Illegal 0 No zoning Drainage Annears ad ~allate
~iohest & best ose as imnroved: n Present use "&i"Other use lexolain! Imp'o.. with. 01.01. iamll. ,........ View Residential
lilies Public Other Off-site Improvements Type Public Private Landscaping Profosed
Jctricity k8:J _____ Stleet Asphalt k8:J 0 Driveway Surtace Concrete
Gas 0 CUlb/gufter Concrete [g) 0 Apparent easements Usu;al Dubli IItil/t1es
Water k8:J ----_____ Sidewalk Concrete ,_ [8J 0 FEMA SpeCial Flood Hazard Area k8:J Yes 0 No
Sanitary sewer [g) Stleet lights Pole Mont _ k8:J 0 FEMA lone A7 Mappate 9/3'0/1982
Storm sewer fXi Allev None n n FEMA Mao No 12'0196'O'O'05C
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nonconforming zoning use, etc_): I 0 annarent
adverse easements encroachments or environmental hazards were observed at the time Of the InsoectlQn, Per I ric Johnson @
Bovnton Beach Plannina & Zonlna DivisIon states that 2 dwellinDs Der acre can be built, 1II0,Quad$ and nl. tri.. Ie es. '
GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMtNT INS lATION
No. of Units ~_ Foundallon Concrete Slab Concrete Area Sq. Fl. N/A Roo _ 0
No. of Stories 1 Exterior Walls C.B,S. - Crawl Space N/A % F!nished N/A Ceil 19 _ k8:J
Type (Det./Aft.) Detached Roof Surface ASDh, Shinole Basement N/A Ceiling N/A Wal __ k8:J
Design (Slyle) Ranch Gutters & Dwnspts. No/No Sump Pump !'lone __~__ Walls N/A _~ Floo _ 0
Existing/Proposed Pronosed Window Type Sinale Hung Dampness N/A '_u_ Floor N/A Non~ _~ 0
Age (Vrs.) Pronosed SIorm/Screens NolYes Settlement ~__ Olrtside Entry N/A Unk~owlL-- 0
Effective Aoe IYrs.\ Pronosed Manufactured House No Intestation N/A :
ROOMS Fover Livino Dinino Kitchen Den Familv Rm. Rec. Rm. Bedrooms # Baths Laundrv Other
Basement
Levell
Level 2
Area
'L_ ~_
3
2
Garnae
Area Sn. Ft.
N/A
1335
----
Finished. area above nrade contains: 7 Rooms' 3 Betlroomisl 2 Bath s\. 1335 S uare Feet f Gross Livinn Area
INTERIOR Materials/Condition HEATING Central KITCHEN EQUIP_ AntC AMENITlES CAR STO AGE: 1 Car
Floors Cpt+Cer,Tile/New Type CFA flefrigeralor k8:J None 0 Fireplace(s) # _ 0 None 0
Walls Drvwallr New Fuel Electric Range/Oven k8:J Stairs 0 Patiu k8:J Garage # of cars
Trim/Finish Wood/ New Condition New Dis posal k8:J Drop Stair 0 Decl(~__D Atlacr Yes
Bath Floor Cernmlc Tile/New COOLING CFA Dishwasher k8:J Scuttle [g) Porch C8J Detac ed
Bath Wainscot Ceramic Tile/New Central Yes Fan/Hood 0 Floor 0 Fence ____ 0 Built-I
Doors Wood/New Other None Microwave 0 Heated R poo'----R; Carport I
Condition New Washer/Drvel i'X1 Finished Drivewa Adat
Additional features (special energy elficient items, etc.): See addendum for cost break down.
r.ondition of the improvements, depreciafion (physical, tuncfiDnal, and external), repairs needed, quality of construction, remodeling/additions, etc.( The
,rovements are proposed construction. There is .no evidence of physical or functional ihadequacies on:slte or I the nJans and~
..clflcatlons, There Is no evidence of external In adequacies In the neighborhood.
Adverse environmental conditions (such as, but not limited to, hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the
immediate vicinity of the subject property.. The appraiser Is not IIcensed/exfJerienced qualified to determil1~otentia Imollct
from any adverse environmental conditions~ Refer to' limitino conditions.
Freddie Mac Form 70 6/93
PAGE 1 OF 2
Form UA2 - "TOTAL for Windows" appraisal softwo,e by a la mode. inc - 1-800-ALAMODE
Fanr Mae Form 1004 6/93
File o. 2f03171 Paoe ~3
, RESIDENTIAL APPRAISAL ftE~ORT 260 317
Vlilualion Sect/on UNIFORM fileNo, .260 17
ESTIMATED SITE VALUE = $ 25,000 Comments on Cost Applb'ach (such as, source of cost est nate, slle value,
ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: square foot calculalion and for HUD, VA and FmHA, the es 'matecl remaining
Dwelling 1,335 Sq. Ft. @$ 129,00 = $____Eb!~ economic life of the prDl}~rt)'): Marshall & Swift R sid..ntial Cost
61 Sq. Ft. @$ 35.00 = 2,135 Handbook and ..c~"al new homes aDDra11l d bv are
= comDanv was uS.!d to calClulate the renro uctlon cost
rage/Carport ~ Sq. Ft. @$ __ 40.00 = 10,280 for this reDort, Tile attach~d Sketch deDI' ts the room
Jlal Estimaled Cost New = $ 184,630 lavout and dlmen~lol1s. The land to value' ratio is
:. Less Physical Functional External considered tVDlc.; for the !Sublect lielahb( rhood,
Depreciation I I =$ Cost estimates are not Intended fDr Insur nce DUrDOSeS.
Depreciated Value of Improvements =$ 184-630
'As-is:' Value of Srte Improvements . _ .."d~qpfDrfvef"~II" =$ 15.000
INDICATED VALUE BY COST APPROACH -$ 224,630 I
ITEM I SUBJECT COMPARABLE NO. t COMPARABLE NO.2 COMP RABLE NO.3
xxxxx NW 12TH Avenue 1050 NW 4th Street 210 NE 12th Avenue 331 NE 11th vemle
Address Bovnton B-;';ch Bovnton Beac.h Bovnton Beach Bovnton Bea h
Proximilv to Subiect T:(i: : i, ii'. ,i. 0.17 miles 0.55 miles 0.67 miles
Sales Price 1$ NIA ~ ']>1 205 000 r;7' :iD$ 210.000 jl:'!Eil1:\V!.: :Jt 249,000
~ : -,
Price/Gross livinn Area 1$ rtJ$ 147,69 rtJll. ' ..' .,!'-,\ $ 167.46 rtJfl:Jlii'fA::;:i,!!!r $ 212.1 2 rtJ rl'('J"i:~;~jmjl,;r~
Data and/or FARESWin2data FARES,RealQuest MLS 2540808, ISC,~l>alQuest MLS 255606 , ISC:,ReaIQuest
Verification Source Insnection Exterior Pub Recrds Exterior Realtor Pull Recrds Exterlor,Real or Pub Recrds
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION : + 1-\$ Adiost DESCRIPTION : + ( -1$ Adjust DESCRIPTIO : + H$ Adlus .
Sales or Financing 11~1},;.:.Ji :.1::;;. Conventional : Conventional Cash
Concessions None Known : None Known : None I(nownl
Date of Sale/Time 1!.'> '! " .," 09/2005 : 09/2005 : 01/2006 :
','
Location Averaae Averaae : Averane Averalle :
LeaseholdlFee Simnle Fee slmDle Fee simple Fee slmDle : Fee slmDle
Site 5-100 5 100 SF +1. 3,780 SIF .-1- 7 050 S/F +/. .15 OGO
View Residential Residential Residential Residential
Desinn and Anneal Ranch Ranch Ranch Ranch
Qualitv of Construction CBS CBS - CBS : CBS
Ane PraDo sed 1 Year +5 000 1 Year : +5 000 2 Years +8.000
Condition Pronosed Good Good Good :
Above Grade Total: Bdrms: Baths T otai : Bdrms : Baths : Total: Bdrms : Baths T olal : Bdrms : B ths :
,
Room Counl 7 : 3 : 2 7 : 3 : 2 : 8 : 4 : 2 7 : 3 : 2 :
Grosslivino Area 1 335 Sn. Ft. 1 386 Sn. Ft. : 0 1,254 Sa Ft 0 1.170 S . Ft. : +4.95'0
Basement & Finished NIA NIA : N/A N/A :
- Rooms Below Grade NfA NfA NIA N/A
I Functional Utilitv Average Averaae - : Averaae : Averaue
Heati;;;;;Coolinn . CFA/Central Central heat/AC Central he"tlAC Central heat lAc :
~rnv Efficient Items None special None special None special None sDecla
ranelcarnort 1 Car None : +10000 None : +10000 1 Car GaraaE!
Porch, Patio, Deck, Porch, patio Porch, patio Porch, patio Porch, patio
Arenlacels) etc. No flrenlace No flrenlace No fireplace
Fence Pool etc. No Pool No Dool : No nool No Pool :
: : :
N. Ad' ~'" '''' , IT CT "..... "', rl ' " ".."" 1M' 2 05'0
Adjusted Sales Price "j~F( , ":Nel, ,):3 ~ ': Net -:fh~;1
of Comoarable 1,;;1!:".:!'i '. Gtl1SSi ],3 %1$ 220000 : Gross:, 7 i ;% $ 225,000 h 24695'0
Comments on Sales Comparison (lneiudlng the subject property's compatibility to the neighborhood, etc ) The sales use(l are the most celTt that best
reDresent the subiect allowlnn the most accurate anDraisal and are reflective of the cu.....nt market. ComDarablJ sal.. number
one was adiusted downward for ll.!!!!!Se, Comparabie sale number two was adlusted dovwnward for aaraae. ComD.lrable sale
number one was adjusted downward for the difference In lot size, also an adjustment upward was made for the d fference In nross
IIvlna area @ $30.00 Der SF, After adlustments the middle of the ranDe Is concluded.
.
ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPI ABLE NO.3
Date, Price and Dala No sale In the 0312005 0212005 0612004
Source, for prior sales last 36 months $10.00 QC $10.00 WD $139,600
within vear of annraisal Public Records Public Records Public Records Public Records
Analysis of any current agreement of sale, option. or listing of subject property and analysis of any prior sales ot subject and cornparables within one year of t e date of appraisal:
No known listing or current contract on the subject property as of actual date of inspection on April 14, 2006. Th subject is
DroDosed construction. See addendum. Estimated time of comnletlon for the sublect is dl>cember 2006,
INDICATED VALUE BY SALES COMPARISON APPROACH $' 225 000
INDICATED VALUE BY INCOME APPROACH (if Annlicabiel Esti~a;eclM;~~t Rent - ~ N/A /Mo. x Gros'R~nt Multinlier NIA ~.~
This appraisal is made -:J "as is" 0 sublect to the repairs, alterations, inspections or condrtlans listed below ~ subject to completion per pia s & srecifications.
Conditions of Appraisal: This Is a summarv reDort of the CUlTent rnarJ,:et value Dnd Is sublect to the attac:hed assumotlons. and IImltlna conditions. Th .Dp.....fse.rs assume
that there are no envlf1)nmental condHlons hazardous materials or $011 conditions that would nrevent develonment.
Final Reconciliation: Principal emphasis is Dlaced on the market aDDroach as It best reflects +he actions of buyers and sellers In
this same market area. The cost annroach offers nood sunnort, Due to the lack of sufficient meaninaful data the "ncome
annroach is deemed not annficable
The purpose of this appraisal is to estimate the market value of the real property tl1at is the subject of this report, based on tile above cunditions and the certffi ation. contingent
and limiting conditiuns, and marllet vaiue definilion that are stated in the attached Freddie Mac Form 439/FNMA form 1004B {Revised 06/93 J
.- ''''' ""."'.1' ""''''''w';,;\ "'"", " "" "" ."""""". "'''''''''' '~''''T,'' '" 1u 4 '''',
(WHICH IS THE DA ~~c~~ \ THE EfFECTIVE ~ATE OF THIS REPORT) TO BE ./7 225 000
'RAISER: " -. - \ -L.' SUPE~~W~ER (ONI. Y IF REQUIRED):
alure - A~..' - llignatur __ dJ Did [8J Did No'
I,ame Jonaf,l';an p, Franke Name Franll'J. Carda MAl Inspert Property
Date Renort Si~"J ADril 28, 2006 Date ReDort Sinned April 28,,2006
Slate Certification # State State Certificalion # St,Cert.Gen,RZ1190 Slate FL
Or State License # Re..istered Trainee RI7876 State FL Or Slate License # State
Freddie Mac Form 70 6/93 PAGE 2 OF 2 Fan ie Map, Form 1004 E-93
Form UA2 - "TOTAL 101 Windows" appraisal software by a ia moue. inc. - 1-800-ALAMOIJE
O:;.!C7,!Z"'07 WED :_6e 46 FAX 561 276 2769 r;it.'orne.nDOW:_~.nqSchoneLLP
~002/002
RA
East Side-West Side-Seaside Renaissance
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
March 13,2007
L I Consent Agenda
_',__L _ _. ......E __._< ~<.,~.....""
Old Bnsiness I X I New Business
Public Hearing
Other
SUBJECT:
Consideration of Issuing an RFQ for Professional Services
SUMMARY:
The eRA is embarking on many projects; the Old High school, the marina, streetscapes, ete, which will
require oversight and value engineering. Therefore, staff feels it is important to have an approved list of
professionals in the fields of architecture. landscape design, civil and traffic engineering to work with on
a continuing basis subject to the JltUits ofCCNA legislation. Therefore, staff recommends issuing the
attached RFQ.
FISCAL IMPACT:
To be detennined.
RECOMMENDATIONS:
Approve the issuance of the RFQ for Continuing Contracts for Design and Professional Services.
'VAJIh
Vivian L. Brooks
eRA Planning Director
~~ 1"- ~~--:_
Larry T. chone
eRA Attorney
BOYNTON BEACH
COMMUNITY REDEVELOPMENT AGENCY
REQUEST FOR
STATEMENTS OF QUALIFICATION
For
Continuing Contracts for
Design and professional services
to be provided on an on-going and/or rotating basis
Background:
The Boynton Beach Community Redevelopment Agency (CRA) is seeking statements of
qualifications for various design and professional services to be provided on an on-going
and/or rotating basis. The contract between the CRA and the firms selected shall be a
Continuing Contract as defined in Florida Statute Section 287.055(2)(g) and subject to
the limitations necessary to qualify as such. Services desired include, but shall not
necessarily be limited to, architecture, landscape architecture, civil engineering, traffic
engineering, and marine engineering.
The CRA guides redevelopment activities that will create a vibrant downtown core and
revitalized neighborhoods within the +/- 1,650 acre district in eastern Boynton Beach.
Since adoption of the Boynton Beach 20/20 Redevelopment Master Plan in 1998 and
component strategic plans in subsequent years, the redevelopment area had grown
physically and tax increment revenues have also grown tremendously.
This physical and fiscal growth has enabled the CRA to undertake and complete projects
such as the Boynton Beach Boulevard Extension and Promenade. These projects feature
the extension of Boynton Beach Boulevard, a pedestrian and vehicular gateway linking
the Promenade to the Marina area and the Promenade pedestrian element leading
pedestrians past "Pete's Pond" Park eastward along the marina boat slips to the
Intracoastal Waterway.
This area provides the community an events area with permanent public accommodations
such as restrooms, water fountains, temporary stage areas, trash receptacles, shade and
seating areas. The area has several sites for public art to add attractions along the walk
with shade created from imitation "sails" of fabric providing comfort and visually tying
the Promenade look to the adjacent marina.
Other projects include the CRA's recent purchase of the 1927 High School in the Town
Square area and the Two Georges Marina along the waterfront. In partnership with the
recently selected Five Towns College from Dix Hills, New York, the CRA will help to
transform the Town Square area into a vibrant center of civic, cultural and recreational
uses as a western anchor to the .downtown core, which now includes the City's WiFi
system. At the ea~tern end of that core area, the Two Georges Marina area includes a 24-
slip marina and office, and will ensure residents public access to waterways for
generations to come.
The CRA is also committed to affordable housing. The CRA has recently launched a
down payment assistance program to put homeownership within reach for local residents.
Up to $50,000 in interest free down payment assistance is available to qualified
individuals and families trying to buy a home within the redevelopment area. This
program is funded using State Housing Initiatives Partnership funds and is administered
through the Boynton Beach Faith Based Community Development Corporation.
Future City/CRA projects include public improvements to Wilson, Intracoastal and
Jaycees parks, as well as the Town Square area. These projects may include public
buildings, landscape and hardscape improvements intended to enhance the public's use of
these areas. In addition, the CRA has recently approved a master developer to negotiate
for the Heart of Boynton project which will include a mix of commercial and residential
uses with complementary public improvements needed to support the private
development.
In order to accomplish the numerous public improvement projects that are being
considered, it is the CRA's intent to select a maximum of three qualified firms to provide
the desires services. It is the CRA's preference for all or substantially all services to be
provided by a single firm or a team of firms. The CRA intends that firms selected will
provide on-going services on a rotating basis or other basis as determined at the sole
discretion of the CRA. Design and other professional services desired by the CRA are as
follows:
J,
. Architecture, It is anticipated that the architects selected will provide consulting
as well as design services including conceptual, schematic, design development
and/or construction documents for public buildings (pavilions, park structures,
etc.), as well as affordable housing projects and adaptive reuse/restoration of
existing buildings with historic character.
· Landscape architecture. It is anticipated that the landscape architects selected will
provide consulting as well as design services related to conceptual, schematic,
design development and/or construction documents for landscape and hardscape
of public places and spaces in an urban setting including but not necessarily
limited to parks, public properties, rights-of-way and easements.
· Civil engineering. It is anticipated that the civil engineers selected will provide
consulting as well as design services related to conceptual, schematic, design
development and/or construction documents for various projects that require
paving, storm drainage, sanitary sewer, potable water, fire protection and other
related improvements for public places and spaces in an urban setting including
but not necessarily limited to parks, public properties, rights-of-way and
easements.
· Traffic engineering. It is anticipated that the traffic engineers selected will
provide general traffic cOnsulting as well as conducting various traffic, trip
2
generation, parking and other similar studies for possiple future projects, or to
evaluate existing conditions and project future need. '
· Marine engineering. It is anticipated that the marine engineers selected will assist
with design and construction of improvements to the recently acquired waterfront
and marina property acquired by the CRA, as well as other marine related tasks.
It is the CRA' s preference for substantially all or all of the services to be provided by a
single firm or team of firms, and the CRA, at its sole discretion, may accept or reject
statements of qualification from firms offering services in only one discipline.
Statements of Qualification
Interested firms shall provide the following information in the following format:
Section I - Cover letter - Section I shall include a cover letter which will provide a brief
summary of the firm, what category(ies) of services the firm is desirous of being
considered for, and who the principal point of contact will be for the services. It is the
desire of the CRA to have one (1) point of contact for these services.
Section II - Firms qualifications - Section II shall provide a detailed description of the
firm in relationship to the services being offered. This section shall include:
· A detailed description of experience and qualifications for the services being
offered including but not necessarily limited to:
o Years providing the services being proposed.
o References for similar services being proposed.
o List of projects.
· Organizational chart listing the principal point of contact, key professional staff,
and other key support staff who are anticipated to work on CRA projects, and
illustrating how the company is organized to provide the services being offered.
· Any licenses, certifications or other related professional credentials held by the
company.
· Information on professional liability, workers compensation and other appropriate
insurances carried by the company.
· List and description of any outstanding claims against the company.
· List and description of any projects from which the company has been relieved of
duty.
· Other appropriate information as determined by the company.
Section III - Key personnel qualifications - Section III shall provide a detailed
description of the individuals and their qualifications in relationship to the services being
offered. This section shall include:
J,
· A list of each person anticipated to provide service for the CRA under this
solicitation and their relevant experience including:
o Ed~cation.
3
o Years of experience.
o References for similar services being proposed.
o List of projects.
o Any licenses, certifications or other related professional credentials held
by the individual.
o Other appropriate information as determined by the company.
Companies which offer their services for any category of service noted above
acknowledge that the personnel described in their statement of qualification are an
important component to selection. Further, it is the obligation of any firm selected to
immediately notify the eRA if one or more of the key personnel become unavailable to
work on CRA projects on either a permanent or temporary basis. Removal, replacement
and/or substitution of any key personnel may cause the company to be disqualified from
providing service to the CRA at the CRA's sole and absolute discretion,
Section IV - General Business Terms - Section IV shall provide the general business
terms under which the company typically provides services. Those general business
terms shall include:
, ,
· Typical fee structure - the company shall provide a list of positions (which shall
also correspond to the key personnel described in Section III), and the hourly
billing rates associated with each of those positions. Companies offering their
qualifications for consideration agree to provide services, as appropriate, under
the following fee structures:
o Lump sum fee, When a scope of services can be clearly outlined and the
level of effort for those services can be determined, the CRA shall require
the consultant to perform said services for a lump sum fee based on an
anticipated level of services applied to the hourly rates required herein.
o HourlylNot-to-Exceed. When a scope of services cannot be clearly
defined in terms of level of effort or the level of effort of a defined scope
of services cannot be precisely defined, the CRA will consent to an hourly
billing on a not-to-exceed dollar amount basis. The CRA will require that
when billings reach 75% of the not-to-exceed amount the consultant must
notify the CRA in writing and provide an estimate of the level of effort to
complete the work assigned, At the CRA's sole and absolute discretion
the services may be allowed to continue or the CRA may elect to
terminate the services and the firm if sufficient progress has not been
made on the project.
· Contract form - the company shall provide their standard form written contract
which is used with other similar design and/or consulting services. The CRA
shall consider the standard form and at the CRA's sole and absolute discretion
may reject or revise certain provisions if they are determined to be unacceptable,
or may propose its own contract.
· Fees, Term and Termination - the CRA intends to enter into Continuing Contracts
with selected firms. The contracts shall be for the rendering of services for those
projects where construction costs do not exceed One Million Dollars
4
($1,000,000), for study activities when fees do not exceep Fifty-Thousand Dollars
($50,000), or for work of a specified nature as outlined in the future contract
required by the CRA, The contracts may have no time limitation. T he contract
must provide a termination clause, pursuant to the definition of "continuing
contracts" as set forth within section 287.055(2)(g), Florida Statutes. However,
generally, the CRA intends to enter into agreements with selected firms for up to
one (1) year with the option for up to four (4) annual renewals subject to the
mutual agreement of both parties. The future agreements will provide for a
termination clause stating that services may be terminated by either party with 30-
days written notice to the other.
Selection Process:
All statements of qualification are encouraged to be brief and to the point. The CRA staff
plans to review the responses and may conduct interviews prior to establishing a short list
of firms for selection. Statements of qualification will be reviewed, rated and ranked
based on the following:
. Firms qualifications
. Qualification of key personnel
. Acceptability of fee structure
The CRA reserves the right to consider any and all information provided by the company
in its statement of qualifications and to accept or reject any or all statements at the CRA's
sole and absolute discretion. Interested parties are required to submit one (1) unbound
original and fifteen (15) copies of their statements of qualification on or before
2007 to:
Lisa Bright, Executive Director
Boynton Beach CRA
915 South Federal Highway
Boynton Beach, FL 33435
Timeline:
Publication of Notice
V oluntary Pre-proposal meeting for interested parties at XX
am/pm
Proposal packages due to CRA office by 3 :00 pm
Selection of short list of proposers by CRA Board of Directors
Facsimile transmissions and electronic submissions will not be accepted. Any responses
, , received by the CRA after 3:00 pm on 2007 will be rejected and returned,
unopened, to the proposer. Any question regarding whether a submittal has been
submitted timely shall be resoivedby reference to the time kept by the CRA's
receptionist or delegated representative for the receipt of submittals.
5
The CRA staff will review the statements of qualification arid intends to short list a
maximum of three (3) firms in each of the categories of service, but may select more or
less at staff's sole and absolute discretion. Upon short-listing, staff may request that its
board of directors approve services agreements to be executed with each firm selected
outlining the general services to be provided, the rates of pay and method of providing
services. This services agreement will not serve as a notice to proceed but will provide
the basis for future notices to proceed on specific projects. Specific projects will be
contracted for only after funds are appropriated (as needed) and a written notice to
proceed is issued.
Contacts:
All correspondence and requests for information regarding the request for proposals,
should be directed to:
Vivian L. Brooks
CRA Planning Director
Boynton Beach CRA
915 S. Federal Highway
Boynton Beach, FL 33435
E-mail brooksvi@ci.boynton-beach.f1.us
Telephone: (561) 737-3256
Protests:
Any and all decisions by the CRA Board to modify the schedule described herein,
requests for additional information, reject insufficient or unclear proposals, formulate an
objective point system for review, rate and rank proposals, negotiate agreements,
abandon negotiations, approve agreements, etc" shall be at the CRA's sole discretion and
no protests whatsoever shall be considered by the CRA Board. Submittal of a reply to
this RFP on the part of any and all proposers constitutes acceptance of this policy.
Public Records
, .
Florida law provides that records of a public agency shall at all times be open for
personal inspection by any person. Section 119.01, F.S., The Public Records Law.
Information and materials received by the eRA, in connection with a submittal shall be
deemed to be public records subject to public inspection. However, certain exemptions to
the public records law are statutorily provided for in Section 119.07, F.S. If the Proposer
believes any of the information contained in its Submittal of Proposals is exempt from the
Public Records Law, then the Proposer must in its response specifically identify the
material which is deemed to be exempt and cite the legal authority for the exemption and
the CRA will evaluate the material to determine whether it is exempt from the Public
Records Law. Otherwise. the CRA will treat all materials received as public records.
6
Public Entity Crimes
"A person or affiliate who has been placed on the convicted vendor list following a
conviction for a public entity crime may not submit Proposals, bids or qualifications (as
applicable), in response to a solicitation for said products/services in support of a public
entity, and may not submit qualifications, a proposal or bid on a contract with a public
entity for the construction or repair of a public building or public work, may not submit
bids on leases of real property to a public entity, may not be awarded or perform work as
a contractor, supplier, subcontractor, or consultant under a contract with any public
entity, and may not transact business with any public entity in excess of the threshold
amount provided in Section 287.017, for CATEGORY TWO for a period of 36 months
from the date of being placed on the convicted vendor list."
Drug Free Workplace Certification
All Proposers must complete and sign the attached "Drug Free Workplace Certification
by Vendor", and submit it with their Proposals. Failure to do so may result in rejection of
the proposal.
I,
7
CERTIFICATION OF DRUG FREE WORKPLACE PROGRAM
I certify the firm of responding to this RFP
maintains a drug-free workplace program, and that the following conditions are met:
(1) We publish a statement notifying employees that the unlawful manufacture,
distribution, dispensing, possession, or use of a controlled substance is prohibited in the
workplace; and specifying that actions will be taken against employees for violations of
such programs. .
(2) We inform employees about the dangers of drug abuse in the workplace, the
company's policy of maintaining a drug-free workplace, any available drug counseling,
rehabilitation, and employee assistance programs, and the penalties that may be imposed
upon employees for drug abuse violations.
(3) We give each employee engaged in providing the commodities or contractual services
included in this RFP a copy of the statement specified in Subsection (1).
(4) In the statement specified in Subsection (1), we notify the employee that, as a
condition of working in the commodities or contractual services covered under this RFP,
they will abide by the terms of the statement; and will notify the employer of any
conviction of, or plea of guilty or nolo contendere to any violation of Chapter 893 or any
controlled substance law of the United States or any state, for a violation occurring in the
workplace no later than five (5) days after such conviction.
(5) We impose a sanction on, or require the satisfactory participation in a drug abuse
assistance or rehabilitation program if such is available in the employee's community, by
any employee who is convicted.
(6) We make a good faith effort to continue to maintain a drug-free workplace through
implementation of this section.
As the person authorized to sign the statement, I certify that this firm complies fully with
the above requirements.
Authorized Signature:
Date
Name & Title (typed)
, ,
8
~~~qY~T8~CRA
_ East Side-West Side-Seaside RenalSsante
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: March 13,2007
AGENDA ITEM:
I Consent Agenda I X I Old Business
New Business
Public Hearing
Other
SUBJECT: Discussion of Ocean Breeze Incentives
SUMMARY:
The CRA board previously entered into a Direct Incentive Agreement with Boynton Associates, the developer of
the Ocean Breeze project located in the Heart of Boynton for a total of $852,587 over a ten year period. In
September 2006, in response the developer's assertion that the terms of the executed DIF A were insufficient to
make the project work, staff presented an enhanced incentive package valued at $3.9M. At that time, the Board
directed staff to bring back a draft incentive agreement.
Staff has worked diligently with the developer to come up with an incentive package that makes financial sense
for the agency and the developer. Boynton Associates latest incentive request is outlined below:
a. City and CRA agree to promptly consider and approve any request for rezoning of the Boynton
Associates properties, and any contiguous parcels acquired or contributed to the Project, to
SHDRlIPUD 20 du/ac. A complete site plan submission package will not be required for this
approval.
b. CRA agrees to buy the pre-sale units required by the Developer's lender so that construction can
begin on the project, which is estimated to be 37 units and can assign their contracts subject to
the deed restrictions required of the existing DIF A, any new DIF A, as well as any additional
requirements mandated by the zoning change. CRA agrees to immediately place a deposit of 10%
of the total purchase price of the 37 units with developer's lender or the lender's approved
escrow agent. Once these units are sold to the CRA, the requirements of the DIF A and/or the new
zoning will have been met.
b. CRA shall contribute the "Peters" property and buy and contribute the Hollis, Jones and HTM
leasing properties to enable a further enhanced site plan and/or additional units. This incentive
is contingent upon the CRA being able to acquire the desired parcels through diligent good-faith
voluntary acquisition..
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Meetings\07 03 13 eRA Board Meeting - March\Ocean Breeze Options. doc
1~~qY~T8~lCRA
iIIIi East Side-West Side-Seaside RenaISsance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
c. Upon execution of the agreement, CRA will immediately deliver $2m in cash and a Letter of
Credit in the amount of $2m to Developer's lender to be used for land buy-down, the project
and/or fees associated with the project.
d. Project to be put on CRA/City Fast Track for sought after approvals.
e. Parties to agree on a mutually acceptable site plan and building elevations, The site plan and
rendering would become exhibits to the DIF A . The building elevations shall be similar to the
Developer's original submission (prior to CRA requested enhancements), with the exception of
the composition shingle roof, which shall be changed to metal.
f. Parties shall agree to a mutually acceptable Project Schedule.
g_ The Direct Incentive Agreement shall give the CRA Board the specific right, but not the
obligation, to approve of any successor or assign of the Developer, unless that successor or
assign is a related entity (shares members).
h. CRA shall immediately remove the demolition lien from the project property as previously
agreed to, without the need for further action on the part of the Developer.
1. City and CRA agree to extend the existing Ocean Breeze site plan and DIFA for one year.
J. CRA and City agree to use their housing incentive programs for the Project units and agree to
budget accordingly.
I. CRA agrees to allocate to the Developer a TIF rebate based on the entire project (both phases
and total units) at the maximum amount with the maximum front loading available under the
program, with a minimum of 50% of the TIF over a ten year period per phase with maximum
front loading.
m. City and eRA agree to waive all fees (including, but not limited to, administration, application,
review, park, bonding, surety, water reservation, permit, impact, etc.) and to assist Developer in
applying for fee waivers from Palm Beach County.
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Compleled Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meelings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options.doc
f"""'-
1~~qY~T8~ eRA
Ii East Side- West S',de-Seas',de RenaISsance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
Ocean Breeze
Requested Project Assistance Summary
Incentive Type Simple Cash Value Notes
Demolition of Structures $ 350,000 I
CRA Purchase of 37 units ",.,.." '.!;;'!"".'}': ';he/-i.;;>..
r,.,.
37 units (iiJ 265,000 I $9,805,000.00 $ 980,500 2
CRA Purchase of Peter Property $ 470,000 3
CRA Purchase of Additional Properties $ 750,000 4
CRA Payment of Development Fees, Impact
Fees, Other Fees and Infrastructure
Improvements $ 4,000,000
Total $ 6,550,500
I Waiver previously approved and amount previously paid from 2005 budget
2. This amount is the 10% deposit required. The CRA will sell the units to buyers
and utilize its HAP and CL T for funding along with the Buyer's lender and the City
programs. It is possible that a portion of this amount will be repaid from buyers,
their lenders, or various programs available..
3 Property already purchased by CRA in 2006 budget year
4. Estimate.
FISCAL IMPACT:
Funds are available from Bond II proceeds, HAP program, CL T funding but would leave little for other projects.
RECOMMENDA TIONS:
Staff does not recommend the incentive package requested by the developer. The developer is seeking
the entire project subsidy from the eRA. Furthermore, staff cannot evaluate if this is the appropriate
amount of subsidy since the developer will not disclose pertinent information particularly the cost of the
land. It is not standard practice for a CRA to fully fund the gap in an affordable housing project.
Typically developers of affordable housing have expertise in accessing a variety of subsidies ranging
from the federal to local level.
If the Board does not approve the proposed incentive package, Boynton Associates is prepared to sell the
property to the CRA for 1.5% above appraised value ($6.4M) plus the value of the impact fee credits
($500,000) for a total of $7.0M.
T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeling\FY 2006-2007 Board
Meetings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options. doc
II~qY~T8~ eRA
Ii East Side -West Side-Seaside RenaISsance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
Staff feels that it would be more productive to purchase the Ocean Breeze site and request proposals
from developers with experience with this size and type of development. This will afford the CRA more
control over the project to ensure quality and affordability.
The CRA attorney and the developer have drafted a purchase agreement (attached) if the Board wishes to
pursue this alternative.
~~
CRA Planning Director
Kenneth G. Spillias
CRA Attorney
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Meelings\07 03 13 CRA Board Meeting - March\Ocean Breeze Options.doc
PURCHASE AGREEMENT
This Purchase Agreement (hereinafter "Agreement") is made and entered into as of the
Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of
the Florida Statutes (hereinafter "CRA" or "PURCHASER") and BOYNTON ASSOCIATES,
L TO, a Florida Limited Partnership, (hereinafter "SELLER").
In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree
as follows:
1. PURCHASE AND SALE/PROPERTY. SELLER agrees to sell and convey to
CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions
hereinafter set forth, the Property located in Palm Beach County, Florida (the "Property") and
more particularly described as follows:
See Exhibit "A"
2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the
Property shall be Six Million Five Hundred Thousand Dollars ($6,500,000.00), payable in cash,
by wire transfer of United States Dollars at the Closing. Also at the time of Closing,
PURCHASER shall pay an additional Five-Hundred Thousand Dollars ($500,000.00) to
SELLER in exchange for an assignment of all of SELLER'S rights, title, and interest, if any, in
and to all Palm Beach County Impact Fee credits applicable to the Property.
3. DEPOSIT. PURCHASER shall pay the sum of Six Hundred and Fifty
Thousand Dollars ($650,000.00) as the deposit required under this Agreement ("Deposit") three
(3) business days following the Effective Date of this Agreement.
3.1 Application/Disbursement of Deposit. The Deposit shall be applied and
disbursed as follows:
The Deposit shall be delivered to SELLER at Closing and the PURCHASER shall
receive credit for such amount against the Purchase Price. If this Agreement is terminated during
the Feasibility Period (hereinafter defined) for any reason, the Deposit shall be immediately
refunded to the PURCHASER. If this Agreement is terminated due to a default, pursuant to
Section 12, the Deposit shall be delivered to (or retained by, as applicable) the non-defaulting
Party, and the non-defaulting Party shall have such additional rights, if any, as are provided in
Section 12.
3.2 Escrow Agent. Buyer and Seller agree that the Deposit shall be paid to
Lewis, Longman & Walker, P.A. ("Escrow Agent") who shall be instructed to invest the Deposit
in an interest-bearing money market account with an insured banking or savings and loan
institution doing business in the State of Florida. The interest earned on the Deposit shall be paid
to the party who is entitled to the Deposit under the terms of this Contract, and shall not be
applied as a reduction to the Purchase Price. Interest earned on the Deposit shall be reported
PURCHASE AGREEMENT
Page 2 of 16
under the federal tax identification number for the party receiving the Deposit. Buyer and Seller
agree to execute and deliver such tax reporting forms as may be reasonably required by Escrow
Agent to establish such account and to report the interest.
PURCHASER and SELLER authorize Escrow Agent (as defined above) to
receive, deposit and hold funds in escrow and, subject to clearance, disburse them upon proper
authorization and in accordance with Florida law and the terms of this Agreement. The parties
agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to
PURCHASER and SELLER, unless the misdelivery is due to Escrow Agent's willful breach of
this Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the
escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover
reasonable attorney's fees and costs to be paid from the escrowed funds which are charged and
awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be
arbitrated, so long as Escrow Agent consents to arbitrate.
4. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS;
EFFECTIVE DATE. If this Agreement is not executed by and delivered to all parties the day
after PURCHASER'S March 2007 Board meeting (which is now scheduled for March 13,2007),
the Deposit will, at PURCHASER'S option, be returned and this offer shall be deemed
withdrawn. Unless otherwise stated, the time for acceptance of any counteroffers shall be five (5)
days from the date the counteroffer is delivered. The date of this Agreement (the "Effective
Date") shall be the date when the last one of the CRA and SELLER has signed or initialed this
offer or the final counteroffer.
5. CLOSING. The purchase and sale transaction contemplated herein shall close on
or before April 15, 2007, unless extended or shortened by other provisions of this Agreement or
by written agreement, signed by both parties.
6. TITLE TO BE CONVEYED. At Closing, SELLER shall convey to CRA, by
Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined),
valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and
all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions
except only the following (collectively, the "Permitted Exceptions" attached hereto as Exhibit
B): (a) general real estate taxes and special assessments for the year of Closing and subsequent
years not yet due and payable; (b) covenants, conditions, easements, dedications, rights-of-way
and matters of record included on the Title Commitment or shown on the Survey (defined in
Section 7), to which CRA fails to object, or which CRA agrees to accept, pursuant to Section 7.2
and Section 7.3 hereof.
7. INVESTIGATION OF THE PROPERTY. Within thirty (30) days from the
Effective Date of this Agreement ("Feasibility Period"), CRA, and CRA's agents, employees,
designees, Contractors, surveyors, engineers, architects, attorneys and other consultants
(collectively, "Agents"), shall have the right, at CRA's expense, to make inquiries of, and meet
with members of Governmental Authorities regarding the Property and to enter upon the
Property, at any time and from time to time with reasonable notice to SELLER and so long as
2
PURCHASE AGREEMENT
Page 3 of 16
said investigations do not result in a business interruption, to perform any and all physical tests,
inspections, and investigations of the Property, including but not limited to Phase I and Phase II
investigations, which CRA may deem necessary. The CRA may enter the Property as of the
Effective Date to conduct these investigations. During this Feasibility Period, CRA may elect, in
CRA's sole and absolute discretion, to terminate this contract and receive back all Deposits
hereunder. If CRA elects to terminate this Agreement in accordance with this Section, CRA
shall: (i) leave the Property in substantially the condition existing on the Effective Date, subject
to such disturbance as was reasonably necessary or convenient in the testing and investigation of
the Property; (ii) to the extent practicable, shall repair and restore any damage caused to the
Property by CRA's testing and investigation; and (iii) release to SELLER, at no cost, all reports
and other work generated as a result of the CRA' s testing and investigation. CRA hereby agrees
to indemnify and hold SELLER harmless from and against all claims, losses, expenses, demands
and liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered
to CRA (including, without limitation, any construction liens resulting therefrom) or for damage
to persons or property (subject to the limitation on practicability provided above) arising out of
CRA's investigation of the Property. CRA's obligations under this Section shall survive the
termination, expiration or Closing of this Agreement. However, CRA's indemnification
obligations shall not exceed the statutory limits as described within Section 768.28, Florida
Statutes, and CRA does not waive its sovereign immunity rights. SELLER hereby agrees to
indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and
liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to
SELLER or for damage to persons or property (subject to the limitation on practicability
provided above) arising out of CRA ' s investigation of the Property, if such damage to persons or
property results from services rendered at SELLER'S request. The obligations of the parties
under this Section shall survive the termination, expiration or Closing of this Agreement.
7.1 Seller's Documents. CRA acknowledges that SELLER has delivered to
CRA the following documents: copies of any reports or studies (including environmental,
engineering, surveys, soil borings and other physical reports) in SELLER'S possession or control
with respect to the physical condition of the Property, ifany.
7.2 Title Review. During the Feasibility Period, CRA shall obtain, at the
CRA's expense, from the Title Company chosen by CRA (hereinafter "Title Company"), a Title
Commitment covering the Property and proposing to insure CRA in the amount of the Purchase
Price subject only to the Permitted Exceptions shown in Exhibit B, together with complete and
legible copies of all instruments identified as conditions or exceptions in Schedule B of the Title
Commitment. CRA shall examine the Title Commitment and deliver written notice to SELLER
no later than twenty (20) days after the Effective Date notifying SELLER of any objections CRA
has to the condition of title (hereinafter "CRA Title Objections"). If CRA fails to deliver the
CRA Title Objections to SELLER within the aforesaid review period, title shall be deemed
accepted subject to the conditions set forth in the Title Commitment. If CRA timely delivers the
CRA Title Objections, then SELLER shall have thirty (30) days to diligently and in good faith
undertake all necessary activities to cure and remove the CRA Title Objections (hereinafter
"Cure Period"). In the event that SELLER is unable to cure and remove, or cause to be cured
and removed, the CRA Title Objections within the Cure Period, to the satisfaction of CRA, then
3
PURCHASE AGREEMENT
Page 4 of 16
CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the Cure
Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title to the
Property as of the time of Closing or (iii) canceling and terminating this Agreement, in which
case, the Deposit shall be returned to CRA and the Parties shall have no further obligations or
liability hereunder, except for those expressly provided herein to survive termination of this
Agreement.
Prior to the Closing, CRA shall have the right to cause the Title Company to issue
an updated Title Commitment ("Title Update") covering the Property. If any Title Update
contains any conditions which did not appear in the Title Commitment, and such items render
title unmarketable, CRA shall have the right to object to such new or different conditions in
writing prior to Closing. All rights and objections of the Parties with respect to objections
arising from the Title Update shall be the same as objections to items appearing in the Title
Commitment, subject to the provisions of this Section.
7.3. Survey Review. CRA, at CRA's expense, may obtain a current boundary
survey (the "Survey") of the Property, indicating the number of acres comprising the Property to
the nearest III OOth of an acre. With the exception of matters shown in Exhibit B, if the Survey
discloses encroachments on the Property or that improvements located thereon encroach on
setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement,
or applicable governmental regulations, the same shall constitute a title defect and shall be
governed by the provisions of Section 7.2 concerning title objections.
8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the
purchase of the Property unless each of the following conditions (collectively, the "Conditions to
Closing") are either fulfilled or waived by CRA in writing:
8.1. Representations and Warranties. All of the representations and warranties
of SELLER contained in this Agreement shall be true and correct as of Closing.
8.2. Condition of Property. The physical condition of the Property shall be the
same on the date of Closing as on the Effective Date, reasonable wear and tear excepted.
8.3. Pending Proceedings. At Closing, there shall be no litigation or
administrative agency or other governmental proceeding of any kind whatsoever, pending or
threatened, which has not been disclosed, prior to closing, and accepted by CRA.
8.4. Compliance with Laws and Regulations. The Property shall be in
compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes,
requirements, licenses, permits and authorizations as of the date of Closing.
9. CLOSING DOCUMENTS. The eRA shall prepare, or cause to be prepared, the
Closing Documents set forth in this Section, except for documents prepared by the Title
Company. At Closing, SELLER shall execute and deliver, or cause to be executed and
delivered, to CRA the following documents and instruments:
4
PURCHASE AGREEMENT
Page 5 of 16
9.1. Deed. A Warranty Deed (the "Deed") conveying to CRA valid, good,
marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances
and other conditions of title other than the Permitted Exceptions.
9.2 Seller's Affidavits. SELLER shall furnish to CRA an owner's affidavit
attesting that, to the best of its knowledge, no individual or entity has any claim against the
Property under the applicable construction lien law; and that there are no parties in possession of
the Property other than SELLER. SELLER shall also furnish to CRA a non-foreign affidavit
with respect to the Property. In the event SELLER is unable to deliver its affidavits referenced
above, the same shall be deemed an uncured title objection.
9.3. Closing Statement. A closing statement setting forth the Purchase Price,
the Deposit, all credits, adjustments and prorations between CRA and SELLER, all costs and
expenses to be paid at Closing, and the net proceeds due SELLER, which CRA shall also execute
and deliver at Closing.
9.4. Corrective Documents. Documentation required to clear title to the
Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions.
9.5. Additional Documents. Such other documents as CRA or the Title
Company may reasonably request that SELLER execute and deliver, and any other documents
required by this Agreement or reasonably necessary in order to close this transaction and
effectuate the terms of this Agreement.
10. PRORA nONS, CLOSING COSTS AND CLOSING PROCEDURES.
10.1. Prorations. Taxes, assessments, rents, interest, insurance and other
expenses of the Property shall be prorated through the day before Closing. CRA shall have the
option of taking over existing policies of insurance, if assumable, in which event premiums shall
be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to
be made through the day prior to Closing. Advance rent and security deposits, if any, will be
credited to CRA. Taxes shall be prorated based upon the current year's tax with due allowance
made for maximum allowable discount. If Closing occurs at a date when the current year's
millage is not fixed and current year's assessment is available, taxes will be prorated based upon
such assessment and prior year's millage. If current year's assessment is not available, then
taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request
of either party, be readjusted upon receipt of tax bill.
10.2. Special Assessment Liens. Certified, confirmed and ratified special
assessment liens imposed by public bodies as of Closing are to be paid by SELLER. Pending
liens as of Closing shall be assumed by CRA. If the improvement has been substantially
completed as of the Effective Date, any pending lien shall be considered certified, confirmed or
ratified and SELLER shall, at Closing, be charged an amount equal to the last estimate or
assessment for the improvement by the public body.
5
PURCHASE AGREEMENT
Page 6 of 16
10.3. Closing Costs. Seller shall pay for all documentary stamps on the deed,
recording the deed, and half of all general closing expenses (settlement fee, courier fees,
overnight packages, etc.). All other costs of closing shall be borne by CRA.
10.4 Closing Procedure. CRA shall fund the Purchase Price subject to the
credits, offsets and prorations set forth herein. SELLER and CRA (as applicable) shall execute
and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i)
disburse the sale proceeds to SELLER; (ii) deliver the Closing Documents and a "marked-up"
Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable
Closing Documents in the appropriate public records.
10.5 Existing Mortgages and Other Liens. At Closing, SELLER shall obtain,
or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments
applicable to and encumbering the Property, except any liens accepted and included in Exhibit B.
11. REPRESENTATIONS, COVENANTS AND WARRANTIES.
11.1 Seller's Representations and Warranties. SELLER hereby represents,
covenants and warrants to CRA, as of the Effective Date and as of the Closing Date, as follows:
11.2. Authority. The execution and delivery of this Agreement by SELLER and
the consummation by SELLER of the transaction contemplated by this Agreement are within
SELLER'S capacity and all requisite action has been taken to make this Agreement valid and
binding on SELLER in accordance with its terms. The person executing this Agreement on
behalf of SELLER has been duly authorized to act on behalf of and to bind SELLER, and this
Agreement represents a valid and binding obligation of SELLER.
11.3. Title. SELLER is and will be on the Closing Date, the owner of valid,
good, marketable and insurable fee simple title to the Property, free and clear of all liens,
encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances
of record which will be discharged at Closing).
12. DEFAULT.
12.1. Purchaser's Default. In the event that this transaction fails to close due to
a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph
12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow
Agent to SELLER as agreed liquidated damages and, thereafter, neither CRA nor SELLER shall
have any further obligation or liabilities under this Agreement, except for those expressly
provided to survive the termination of this Agreement; provided, however, that CRA shall also
be responsible for the removal of any liens asserted against the Property by persons claiming by,
through or under CRA, but not otherwise. CRA and SELLER acknowledge that if CRA defaults,
SELLER will suffer damages in an amount which cannot be ascertained with reasonable
certainty on the Effective Date and that the amount of the Deposit being held by Escrow Agent
6
PURCHASE AGREEMENT
Page 7 of 16
most closely approximates the amount necessary to compensate SELLER. CRA and SELLER
agree that this is a bona fide liquidated damages provision and not a penalty or forfeiture
proviSIOn.
12.2. Seller's Default. In the event that SELLER shall fail to fully and timely
perform any of its obligations or covenants hereunder or if any of SELLER'S representations are
untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement,
CRA may, at its option: (1) declare SELLER'S in default under this Agreement by notice
delivered to SELLER, in which event CRA may terminate this Agreement and demand that the
Deposit be returned, including all interest thereon if any, in accordance with Section 3 and
neither Party shall have any further rights hereunder or (2) seek specific performance of this
Agreement, without waiving any action for damages.
12.3. Notice of Default. Prior to declaring a default and exercising the remedies
described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party
describing the event or condition of default in sufficient detail to enable a reasonable person to
determine the action necessary to cure the default. The defaulting Party shall have fifteen (15)
days from delivery of the notice during which to cure the default, provided, however, that as to a
failure to close, the cure period shall only be three (3) Business Days from the delivery of notice.
Both parties agree that if an extension is requested, such extension shall not be unreasonably
withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party
may exercise the remedies described above.
12.4. Survival. The provisions of this Section 12 shall survive the termination
of this Agreement.
13. NOTICES. All notices required in this Agreement must be in writing and shall be
considered delivered when received by certified mail, return receipt requested, or personal
delivery to the following addresses:
If to Seller:
Boynton Associates, Ltd.
Attn: Mr. Larry Finkelstein
114 N. Federal Highway, Suite 202
Boynton Beach, Florida 33435
Tel: 561-736-9790
Fax: 561-423-2432
Email: lfgi@aol.com
With a copy to:
William E. Shannon, Esq.
4500 PGA Boulevard, Suite 304B
Palm Beach Gardens, Florida 33418
Tel: 561-622-4521
Fax: 561-656-0917
Email: wshannon@owen-lawfirm.com
7
PURCHASE AGREEMENT
Page 8 of 16
If to Purchaser:
Boynton Beach Community Redevelopment Agency
915 S. Federal Highway
Boynton Beach, Florida 33435
Tel: 561-737-3256
Fax: 561-737-3258
Email: BrightL@ci.boynton-beach.f1.us
With a copy to:
Kenneth G. Spillias, Esq.
Lewis, Longman & Walker, P.A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
Tel: 561-640-0820
Fax: 561-640-8202
Email: kspillias@llw-Iaw.com
14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this
Agreement are hereby made binding on, and shall inure to the benefit of, the successors and
permitted assigns of the Parties hereto. SELLER may not assign its interest in this Agreement
without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall
have the right to assign this Agreement to the City of Boynton Beach (the "City") without the
prior consent of SELLER and the CRA shall be released from any further obligations and
liabilities under this Agreement. The CRA may not assign this Agreement to any other party
without the prior written approval of SELLER, which shall not unreasonably withheld. If CRA
has been dissolved as an entity while this Agreement and/or the attached Lease Agreement are in
effect, the provisions of section 163.357(1), Florida Statutes, (as it may be amended from time to
time), shall apply.
15. RISK OF LOSS. In the event the condition of the Property, or any part thereof, is
materially altered by an act of God or other natural force beyond the control of SELLER, CRA
may elect, as its sole option, to terminate this Agreement and the parties shall have no further
obligations under this agreement and all Deposits hereunder shall be refunded to CRA, or CRA
may accept the Property without any reduction in the value of the Property.
16. BROKER FEES. The Parties hereby confirm that neither of them has dealt with
any broker in connection with the transaction contemplated by this Agreement. Each Party shall
indemnify, defend and hold harmless the other Party from and against any and all claims, losses,
damages, costs or expenses (including, without limitation, attorney's fees) of any kind or
character arising out of or resulting from any agreement, arrangement or understanding alleged
to have been made by either Party or on its behalf with any broker or finder in connection with
this Agreement. The provisions of this Section shall survive Closing or termination of this
Agreement.
8
PURCHASE AGREEMENT
Page 9 of 16
17. Environmental Conditions.
17.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any
hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant,
petroleum, petroleum product or petroleum by-product as defined or regulated by environmental
laws. Disposal ("Disposal ") shall mean the release, storage, use, handling, discharge, or disposal of
such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal,
state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions.
17.1.1 As a material inducement to CRA entering into this Agreement, SELLER
hereby warrants and represents the following, as applicable:
(1) That SELLER and occupants of the Property have obtained and are
in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or
contiguous property owned by SELLER, to the best of SELLER' knowledge.
(2) SELLER is not aware nor does it have any notice of any past,
present or future events, conditions, activities or practices which may give rise to any liability or
form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the
Property. SELLER is not aware nor does it have any notice of any past, present or future events,
conditions, activities or practices on contiguous property that is owned by SELLER which may
give rise to any liability or form a basis for any claim, demand, cost or action relating to the
Disposal of any Pollutant affecting the SELLER property.
(3) There is no civil, criminal or administrative action, suit, claim,
demand, investigation or notice of violation pending or, to the best of that entity's knowledge,
threatened against SELLER or the Property relating in any way to the Disposal of Pollutants on the
Property, any portion thereof, or on any contiguous property owned by SELLER.
17.2 Additional Warranties and Representations of SELLER. As a material
inducement to CRA entering into this Agreement, SELLER, to the best of SELLER' information
and belief, hereby represents and warrants the following:
17.2.1 There are no pending applications, permits, petitions, contracts, approvals,
or other proceedings with any governmental or quasi-governmental authority, including but not
limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies,
concerning the use or operation of, or title to the Property or any portion thereof and SELLER has
not granted or is not obligated to grant any interest in the Property to any of the foregoing entities.
17.2.2 There are no facts believed by SELLER to be material to the use, condition
and operation of the Property in the manner that it has been used or operated, which it has not
disclosed to CRA herein, including but not limited to unrecorded instruments or defects in the
condition of the Property which will impair the use or operation of the Property in any manner.
9
PURCHASE AGREEMENT
Page 10 of 16
17.2.3 To the best of SELLER' knowledge, the Property and the use and operation
thereof are in compliance with all applicable county and governmental laws, ordinances,
regulations, licenses, permits and authorizations, including, without limitation, applicable zoning
and environmental laws and regulations.
17.3 SELLER Deliveries.
SELLER shall deliver to CRA the following documents and instruments within ten
(10) days of the Effective Date of this Agreement, except as specifically indicated:
17.3.1 Copies of any reports or studies (including engineering, environmental, soil
borings, and other physical inspection reports), in SELLER'S possession or control (other than the
documents described as having been received in Paragraph 7.1 above) with respect to the physical
condition or operation of the Property, if any.
17.3.2 Copies of all approved plans, licenses, variances, waivers, permits
(including but not limited to all surface water management permits, wetland resource permits,
consumptive use permits and environmental resource permits), authorizations, and approvals
required by law or by any governmental or private authority having jurisdiction over the
Property, or any portion thereof (the "Governmental Approvals"), which are material to the use
or operation of the Property, ifany.
17.3.3 At Closing, SELLER shall execute and deliver to CRA any and all
documents and instruments required by CRA, in CRA's sole and absolute discretion, which: (i)
effectuate the transfer to CRA of those Governmental Approvals, or portions thereof which are
applicable to the Property, that CRA desires to have assigned to it, and/or (ii) cause the Property
to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior to the
Closing Date, SELLER shall remedy, restore, and rectify any and all violations of the
Governmental Approvals (including but not limited to any and all portions of the surface water
management system, mitigation areas or other items which do not comply with the
Governmental Approvals or applicable rules), if any. SELLER warrants that there will not be, at
the time of Closing, any unrecorded instruments affecting the title to the Property, including, but
not limited to any conveyances, easements, licenses or leases.
18. MISCELLANEOUS.
18.1. General. This Agreement, and any amendment hereto, may be executed in
any number of counterparts, each of which shall be deemed to be an original and all of which
shall, together, constitute one and the same instrument. The section and paragraph headings
herein contained are for the purposes of identification only and shall not be considered in
construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire
Section, unless otherwise specified. No modification or amendment of this Agreement shall be
of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire
agreement between the Parties relating to the Property and all subject matter herein and
supersedes all prior and contemporaneous negotiations, understandings and agreements, written
or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of
10
PURCHASE AGREEMENT
Page 11 of 16
the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising
out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States
District Court for the Southern District Court of Florida.
18.2. Computation of Time. Time is of the essence. Any reference herein to
time periods which are not measured in Business Days and which are less than six (6) days, shall
exclude Saturdays, Sundays and legal holidays in the computation thereof. Any time period
provided for in this Agreement which ends on a Saturday, Sunday or legal holiday shall extend
to 5:00 p.m. on the next full Business Day. Time is of the essence in the performance of all
obligations under this Agreement. Time periods commencing with the Effective Date shall not
include the Effective Date in the calculation thereof.
18.3. Waiver. Neither the failure of a party to insist upon a strict performance
of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance
of any item by a party with knowledge of a breach of this Agreement by the other party in the
performance of their respective obligations hereunder, shall be deemed a waiver of any rights or
remedies that a party may have or a waiver of any subsequent breach or default in any of such
terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination
of this Agreement and the Closing.
18.4. Construction of Agreement. The Parties to this Agreement, through
counsel, have participated freely in the negotiation and preparation hereof. Neither this
Agreement nor any amendment hereto shall be more strictly construed against any of the Parties.
As used in this Agreement, or any amendment hereto, the masculine shall include the feminine,
the singular shall include the plural, and the plural shall include the singular, as the context may
require. Provisions of this Agreement that expressly provide that they survive the Closing shall
not merge into the Deed.
18.5. Severability. If any provision of this Agreement or the application thereof
shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this
Agreement nor the application of the provision to other persons, entities or circumstances shall
be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The
provisions of this Section shall apply to any amendment of this Agreement.
18.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement
and initialed by CRA and SELLER shall control all printed provisions in conflict therewith.
18.7 Waiver of Jury Trial. As an inducement to CRA agreeing to enter into this
Agreement, CRA and SELLER hereby waive trial by jury in any action or proceeding brought by
either party against the other party pertaining to any matter whatsoever arising out of or in any way
connected with this Agreement.
11
PURCHASE AGREEMENT
Page 12 of16
18.8. Attorneys Fees and Costs. Should it be necessary to bring an action to
enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including
those at the appellate level, shall be awarded to the prevailing party.
18.9 Binding Authority. Each party hereby represents and warrants to the other
that each person executing this Agreement on behalf of the CRA and SELLER has full right and
lawful authority to execute this Agreement and to bind and obligate the party for whom or on
whose behalf he or she is signing with respect to all provisions contained in this Agreement.
18.10 Recording. This Agreement may not be recorded in the Public Records of
Palm Beach County, Florida.
18.11 Survival. The covenants, warranties, representations, indemnities and
undertakings of SELLER set forth in this Agreement, shall survive the Closing, the delivery and
recording of the SELLER Property Deed and CRA's possession of the Property.
18.12 SELLER Attorneys' Fees and Costs. SELLER acknowledges and agrees
that SELLER shall be responsible for its own attorneys' fees and all costs, if any, incurred by
SELLER in connection with the transaction contemplated by this Agreement.
18.13. Disclosure. SELLER'S General Partner's Manager, Larry Finkelstein
(the executor of this Agreement), discloses that he is a licensed Florida real estate broker, and that
he has a beneficial interest in SELLER.
18.14 Tax Free Exchange. SELLER, at its sole discretion, may elect to
exchange the Property (or a portion thereof) for other properties ("Exchange Property") of their
choosing in a three party transaction, provided that the end result is that PURCHASER acquires
fee title to the Property without incurring any additional expense or liability of any nature. If
Seller so elects, the designation of Exchange Property shall be made in writing by SELLER prior
to the Closing date. The contract to complete the exchange ("Exchange Contract"), or an
assignment thereof to PURCHASER, shall be presented to PURCHASER concurrently with the
designation of the Exchange Property. PURCHASER shall have no obligation or responsibility of
the Exchange Property or for determining that the contemplated transaction will qualify as a "like
kind exchange" under Section 1031 of the Internal Revenue Code as amended. PURCHASER
agrees to fully cooperate with SELLER in connection with the acquisition of the Exchange
Property and the consummation of the exchange.
{THE REMAINDER OF THIS PAGE INTENIONALLY LEFT BLANK}
12
PURCHASE AGREEMENT
Page 13 of 16
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective
date.
BUYER:
SELLER:
BOYNTON BEACH
COMMUNITY REDEVELOPMENT
AGENCY
BOYNTON ASSOCIATES, LTD.,
by its GENERAL PARTNER,
AFFORDABLE HOUSING, LLC.
By:
Henderson Tillman, Chairperson
By:
Larry Finkelstein, Its Managing Member
Print Name:
Date:
Date:
Witnesses:
Witnesses:
Print Name
Print Name
Witnesses:
Witnesses:
Print Name
Print Name
Approved as to form and legal sufficiency:
CRA Attorney
13
PURCHASE AGREEMENT
Page 14 of 16
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
Parcell:
A portion of Block C of the Plat of Boynton Hills, Boynton Beach, Palm Beach County, Florida,
according to the plat thereof as recorded in Plat Book 4, Page 51, of the Public Records of Palm
Beach County, Florida, described as follows:
Commence at the Northeast comer of Lot 147 of said Block C; thence South (assumed), along
the East line of said Lot 147, a distance of20.00 feet to the Point of Beginning; thence continue
South, along the East line of said Block C, 228.36 feet to the Southeast comer of Lot 134 of said
Block C; thence West, along the South line of said Lot 134, a distance of 100 feet to the East line
of Lots 135 and 136 of said Block C; thence South along said East line and the Southerly
prolongation thereof, 189.19 feet to the centerline of Grand Circle "N", being a curve concave
Southwesterly having a radius of 591.65 feet, (a line radial to said curve bears North 410 04' 57"
East); thence Northwesterly, along the arc of said curve 5.02 feet through a central angle of 00
29' 11" to the intersection with the Northerly prolongation of the East line of Lot 129 of said
Block C, (a line radial to said curve at the said point of intersection bears North 400 35' 46"
East); thence South along the said Northerly prolongation of the East line of Lot 129, a distance
of57.60 feet to the Southeast comer of said Lot 129; thence West along the South line of said
Lot 129 and the South line of Lot 128, a distance of 150.00 feet to the West line of said Lot 128;
thence North, along said West line, 15.00 feet to the South line of Lots 127 and 126 of said
Block C; thence West, along the said South line of Lots 127 and 126, a distance of 100.00 feet to
the West line of said Lot 126; thence North, along said West line, 45.00 feet to the South line of
Lots 124 and 123 of said Block C; thence West along said South line, 100.00 feet to the West
line of said Lot 123; thence North along said West line and the Northerly prolongation thereof,
193.23 feet to the intersection with the Westerly prolongation of the South line of Lot 141 of said
Block C; thence North 760 46' 35" East, along said Westerly prolongation, 157.99 feet to the
West line of said Lot 141; thence North, along said West line, 101.25 feet to the North line of
said Lot 141; thence North 830 17' 55" East, along the North line of said Lots 141 and 142 of
said Block C, a distance of75.51 feet to a line 25 feet West of and parallel with the East line of
Lot 150 of said Block C; thence North, along said parallel line, 92.44 feet to the North line of
Lots 150, 149, 148 and 147 of said Block C; thence East along said North line, 205.00 feet to the
beginning of a curve concave Southwesterly having a radius of 20.00 feet and a central angle of
90000' 00"; thence Southeasterly, along the arc of said curve, 31.42 feet to the Point of
Beginning aforedescribed.
Parcel 2:
Lots 1 through 12, inclusive, Block 1, Palm Beach Country Club Estates, according to the Plat
thereof as recorded in Plat Book 11, Page 43, of the Public Records of Palm Beach County,
Florida; and the South 1/2 of the East 1/2 of Lot 2, of Subdivision of the West 1/2 of the
Southeast 1/4 of Section 21, Township 45 South, Range 43 East, according to the plat thereof, as
recorded in Plat Book 1, Page 4, of the Public Records of Palm Beach County, Florida, LESS the
South 125 feet, thereof and LESS the right of way for "Seacrest Boulevard" as shown on Road
Plat Book 5, Page 182, of the Public Records of Palm Beach County, Florida.
14
PURCHASE AGREEMENT
Page 15 of 16
Exhibit B
Permitted Exceptions
I. Taxes for the year of closing, and taxes or special assessments which are not shown as existing
liens by the public records.
2. Rights or claims of parties in possession not shown by the public records.
3. Encroachments, overlaps, boundary line disputes, and any other matter which would be disclosed
by an accurate survey and inspection of the premises.
4. Easements or claims of easements not shown by the public records.
5. Any lien, or right to a lien, for services, labor, or material, furnished to the premises imposed by
law and not shown on the public records.
6. Any adverse ownership claim by the State of Florida by right of sovereignty to any portion of the
lands insured hereunder, including submerged, filled, and artificially exposed lands, and lands accreted to
such lands.
7. Resolution No. 05-176 in favor of City of Boynton Beach recorded in Official Records Book
19662, Page 893, as assigned to Boynton Beach Community Redevelopment Agency in Official Records
Book 20768, Page 938, both of the Public Records of Palm Beach County, Florida. (Seller to assign
whatever rights, title, or interest it has in and to the agreement by the Boynton Beach Community
Redevelopment Agency to waive any lien described in this Resolution.)
8. Oil, Gas and Mineral Reservations in favor of the State of Florida, as set forth in Deed from the
Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 709, Page 546,
of the Public Records of Palm Beach County, Florida, as affected by Quit-Claim Deed recorded in
Official Records Book 1953, Page 1601. The right of entry for mining and exploration in said
reservations has been released in Official Records Book 4081, Page 1974, of the Public Records of Palm
Beach County, Florida and by Section 270.11 F.S. Road Reservations have been released in Official
Records Book 20739, Page 486, of the Public Records of Palm Beach County, Florida.
9. Oil, Gas and Mineral Reservations in favor of the State of Florida, as set forth in Deed from the
Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 751, Page 209,
of the Public Records of Palm Beach County, Florida. The right of entry for mining and exploration in
said reservations has been released in Official Records Book 4081, Page 1974, of the Public Records of
Palm Beach County, Florida and by Section 270.11 F.S. Road Reservations have been released in Official
Records Book 20739, Page 486, of the Public Records of Palm Beach County, Florida.
10. Oil, Gas and Mineral Reservations in favor of the State of Florida, as set forth in Deed from the
Trustees of the Internal Improvement Fund of the State of Florida, recorded in Deed Book 822, Page 121,
of the Public Records of Palm Beach County, Florida. The right of entry for mining and exploration in
15
PURCHASE AGREEMENT
Page 16 ofl6
said reservations has been released in Official Records Book 4081, Page 1972, of the Public Records of
Palm Beach County, Florida and by Section 270.11 F .S. Road Reservations have been released in Official
Records Book 20739, Page 486, of the Public Records of Palm Beach County, Florida.
11. Easement to Florida Power and Light Company recorded in Official Records Book 1571, Page
429, of the Public Records of Palm Beach County, Florida.
]2. Encroachment of NW ]st Street along the West Property line as shown on survey by O'Brien,
Suiter & O'Brien, Inc., Order No. 80-153db"I", dated October 20, 2005, revised 9/2/05, revised 9/14/05,
revised 7/11/06, revised 10/17/06 and 11/13/06. (as to Parcell).
13. Chain link fence encroaches .4' along the East property line and 4.3' along the North property
line; Encroachment of concrete drive, rock drive, pavement and concrete walkways on the Western
portion of the property; Encroachment of pavement along the side of the property, as shown on survey by
O'Brien, Suiter & O'Brien, Inc., Order No. 80-153db"]", dated October 20, 2005, revised 9/2/05, revised
9/14/05, revised 7/1 ] /06, revised ] 0/17/06 and] ] /13/06. (as to Parcel ]).
] 4. Irregular wood fence encroaches .05' along the South property line as shown on survey prepared
by O'Brien, Suiter & O'Brien, Inc., Order No. 80-153db"A", dated October 20, 2005, revised 12/01/05,
revised 1/05/06, revised 7/13/06, revised 7/] 9/06 and revised 10/17/06. (as to Parcel 2).
16
MAR-08-2007 14:19 From:
From :
To:4098~2419~000~73732S P.2/2
03106/2007 12:54
194' P.0lJ2/015
Ilfl~e~CRA
iii East S1d.~ We" Sld.-Se..id. F\enal.oancc
BOYNTON BEACH eRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF:
Man:h 131 Z006
Old BulliD.
X I New BlIJfntl.
hbUe HeariDe
Other
SUBJECT:
Consideration ofPurcbasiog Property located at NE 1 rt Street
SUMJ."\1ARY;
At the AU@\LSt 2006 CRABoar4 meeting the Board approved 11. parking strategy fur the downtown area.
Staffhas been able to negotiate for the auUority of the sill: identified as #4 on th~ attached map. The
parcel! contain .48 acres of land.
The appraisal came in at $625,000. The aeUer is askins $640.000 A diffc:~e of$I.5,OOO. The
comparable properties per square foot price used in the appraisal range from $35.73 pr, sq. ft. to $27.08
pro sq. ft. with the Ilveragc price p~r square reet being $32.00. The subject propertY appraised at $31.33
pt. &q. il, Th~ llWng price ~sents e. 4.6 perco.nt l1we886 over the appra.lscd value.
FISCAL ~ACT:
$640,000 plus customary closing expense from proceeds of BOnd #1.
RECOMl\1ENDA TIONS!
Approve the purchase ~eut between the eRA. and the Sha1fer's !ot property loc~ted at 208 NE 1 n
Street in the amount of $640,000,
Yb?&Jrk
, , Vivian l. Brooks
eRA Planning DirectQl'
\
~~
eRA Attom~y
'I';\A<.'JiiNQAt'l. CONSENT AGENDAS, MONTHLY REPORTSICOIl'\pletGd Aglllndlll*" ReqUI.t P'OItM by Mee1lng\FY 2006-2007 Board
MeeUngl1,07 03 13 eRA Board M..tlng . March\Pal1clnll HE 1.t Btreeldoc
PURCHASE AGREEMENT
This Purchase Agreement (hereinafter "Agreement") is made and entered into as of the
Effective Date (hereinafter defined), by and between BOYNTON BEACH COMMUNITY
REDEVELOPMENT AGENCY, a public agency created pursuant to Chapter 163, Part III, of
the Florida Statutes (hereinafter "CRA" or "PURCHASER") and JEFFREY AND ELIZABETH
SHAFFER (hereinafter "SELLERS").
In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree
as follows:
1. PURCHASE AND SALE/PROPERTY. SELLERS agree to sell and convey to
CRA and CRA agrees to purchase and acquire from SELLERS, on the terms and conditions
hereinafter set forth, the Property located in Palm Beach County, Florida (the "Property") and
more particularly described as follows:
The North Y2 of Lots 11 and 12, Block 3, TOWN OF
BOYNTON, according to the Plat thereof as recorded in Plat
Book 1, page 23, as recorded in the Public Records of Palm
Beach County, Florida.
Along with:
Lots 13 and 14, Bock 3, TOWN OF BOYNTON, according to
the Plat thereof as recorded in Plat Book 1, Page 23, as
recorded in the Public Records of Palm Beach County, Florida.
2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the
Property shall be Six Hundred and Thirty Thousand Dollars ($640,000.00), payable in cash, by
wire transfer of United States Dollars at the Closing.
3. DEPOSIT.
3.1 Earnest Money Deposit. Within three (3) Business Days after the Effective Date,
Purchaser shall deliver to Lewis, Longman & Walker, P.A.("Escrow Agent") a deposit in the
amount of Thirty One Thousand Five Hundred Dollars ($31,500.00) (the "Deposit").
3.2 Application/Disbursement of Deposit. The Deposit shall be applied and
disbursed as follows:
The Deposit shall be delivered to SELLESR at Closing and the CRA shall receive credit for such
amount against the Purchase Price. If this Agreement is terminated during the Feasibility Period
(hereinafter defined) for any reason, the Deposit shall be immediately refunded to the CRA. If
this Agreement is terminated due to a default, pursuant to Section 12, the Deposit shall be
delivered to (or retained by, as applicable) the non-defaulting Party, and the non-defaulting Party
shall have such additional rights, if any, as are provided in Section 12.
PURCHASE AGREEMENT
Page 2 of 12
3.3 Escrow Agent. CRA and SELLERS authorize Escrow Agent to receive,
deposit and hold funds in escrow and, subject to clearance, disburse them upon proper
authorization and in accordance with Florida law and the terms of this Agreement. The parties
agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to
CRA and SELLERS, unless the misdelivery is due to Escrow Agent's willful breach of this
Agreement or gross negligence. If Escrow Agent interpleads the subject matter of the escrow,
Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable
attorney's fees and costs to be paid from the escrowed funds which are charged and awarded as
court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated,
so long as Escrow Agent consents to arbitrate.
4. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS;
EFFECTIVE DATE. If this Agreement is not executed by and delivered to all parties on or
before March 16, 20007, the Deposit will, at CRA's option, be returned and this offer shall be
deemed withdrawn. Unless otherwise stated, the time for acceptance of any counteroffers shall
be five (5) days from the date the counteroffer is delivered. The date of this Agreement (the
"Effective Date") shall be the date when the last one of the CRA and SELLERS has signed or
initialed this offer or the final counteroffer.
5. CLOSING. The purchase and sale transaction contemplated herein shall close on
or before April 13, 2007 (the "Closing"), unless extended by other provisions of this Agreement
or by written agreement, signed by both parties, extending the Closing.
6. TITLE TO BE CONVEYED. At Closing, SELLERS shall convey to CRA, by
Warranty Deed complying with the requirements of the Title Commitment (hereinafter defined),
valid, good, marketable and insurable title in fee simple to the Property, free and clear of any and
all liens, encumbrances, conditions, easements, assessments, restrictions and other conditions
except only the following (collectively, the "Permitted Exceptions"): (a) general real estate taxes
and special assessments for the year of Closing and subsequent years not yet due and payable;
(b) covenants, conditions, easements, dedications, rights-of-way and matters of record included
on the Title Commitment or shown on the Survey (defined in Section 7), to which CRA fails to
object, or which CRA agrees to accept, pursuant to Section 7.1 and Section 7.2 hereof.
7.0 Investigation of the Property. Within 30 days from the Effective Date
("Feasibility Period"), CRA, and CRA's agents, employees, designees, Contractors, surveyors,
engineers, architects, attorneys and other consultants (collectively, "Agents"), shall have the
right, at CRA's expense, to make inquiries of, and meet with members of Governmental
Authorities regarding the Property and to enter upon the Property, at any time and from time to
time with reasonable notice to SELLERS and so long as said investigations do not result in a
business interruption, to perform any and all physical tests, inspections, and investigations of the
Property, including but not limited to Phase I and Phase II investigations, which CRA may deem
necessary. During this Feasibility Period, CRA may elect, in CRA's sole and absolute
discretion, to terminate this contract and receive back all Deposits hereunder. If CRA elects to
terminate this Agreement in accordance with this Section, CRA shall: (i) leave the Property in
substantially the condition existing on the Effective Date, subject to such disturbance as was
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PURCHASE AGREEMENT
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reasonably necessary or convenient in the testing and investigation of the Property; (ii) to the
extent practicable, shall repair and restore any damage caused to the Propeliy by CRA's testing
and investigation; and (iii) release to SELLERS, at no cost, all reports and other work generated
as a result of the CRA' s testing and investigation. CRA hereby agrees to indemnify and hold
SELLERS harmless from and against all claims, losses, expenses, demands and liabilities,
including, but not limited to, attorney's fees, for nonpayment for services rendered to CRA
(including, without limitation, any construction liens resulting therefrom) or for damage to
persons or property (subject to the limitation on practicability provided above) arising out of
CRA's investigation of the Property. CRA's obligations under this Section shall survive the
termination, expiration or Closing of this Agreement. However, CRA's indemnification
obligations shall not exceed the statutory limits as described within Section 768.28, Florida
Statutes, and CRA does not waive its sovereign immunity rights. SELLERS hereby agrees to
indemnify and hold CRA harmless from and against all claims, losses, expenses, demands and
liabilities, including, but not limited to, attorney's fees, for nonpayment for services rendered to
SELLERS or for damage to persons or property (subject to the limitation on practicability
provided above) arising out of CRA's investigation of the Property. SELLER'S obligations
under this Section shall survive the termination, expiration or Closing of this Agreement.
7.1 Seller's Documents: SELLERS shall deliver to CRA the following
documents and instruments within five (5) days of the Effective Date of this Agreement: copies
of any reports or studies (including environmental, engineering, surveys, soil borings and other
physical reports) in SELLER'S possession or control with respect to the physical condition of the
Property, if any.
7.2 Title Review. Within ten (IO) days of the Effective Date, CRA shall
obtain, at the CRA's expense, from a Title Company chosen by CRA (hereinafter "Title
Company"), a Title Commitment covering the Property and proposing to insure CRA in the
amount of the Purchase Price subject only to the Permitted Exceptions, together with complete
and legible copies of all instruments identified as conditions or exceptions in Schedule B of the
Title Commitment. CRA shall examine the Title Commitment and deliver written notice to
SELLERS no later than twenty (20) days after the Effective Date notifying SELLERS of any
objections CRA has to the condition of title (hereinafter "CRA Title Objections"). If CRA fails
to deliver the CRA Title Objections to SELLERS within the aforesaid review period, title shall
be deemed accepted subject to the conditions set forth in the Title Commitment. If CRA timely
delivers the CRA Title Objections, then SELLERS shall have thirty (30) days to diligently and in
good faith undertake all necessary activities to cure and remove the CRA Title Objections
(hereinafter "Cure Period"). In the event that SELLERS are unable to cure and remove, or cause
to be cured and removed, the CRA Title Objections within the Cure Period, to the satisfaction of
CRA, then CRA, in CRA's sole and absolute discretion, shall have the option of (i) extending the
Cure Period and the Closing for one additional thirty (30) day period, or (ii) accepting the Title
to the Property as of the time of Closing or (iii) canceling and terminating this Agreement, in
which case, the Deposit shall be returned to CRA and the Parties shall have no further
obligations or liability hereunder, except for those expressly provided herein to survive
termination of this Agreement. It is understood and agreed between the Parties that the existing
structure on the Property encroaches upon the adjacent property (having an address of 20 1 NE 151
A venue - PCN # 08-43-45-28-03-003-0111) and that said encroachment constitutes a Permitted
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PURCHASE AGREEMENT
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Exception as defined above.
Prior to the Closing, CRA shall have the right to cause the Title Company to issue an updated
Title Commitment ("Title Update") covering the Property. If any Title Update contains any
conditions which did not appear in the Title Commitment, and such items render title
unmarketable, CRA shall have the right to object to such new or different conditions in writing
prior to Closing. All rights and objections of the Parties with respect to objections arising from
the Title Update shall be the same as objections to items appearing in the Title Commitment,
subject to the provisions ofthis Section.
7.3. Survey Review. CRA, at CRA's expense, may obtain a current boundary
survey (the "Survey") of the Property, indicating the number of acres comprising the Property to
the nearest 1/1 OOth of an acre. If the Survey discloses encroachments on the Property or that
improvements located thereon encroach on setback lines, easements, lands of others or violate
any restrictions, covenants of this Agreement, or applicable governmental regulations, the same
shall constitute a title defect and shall be governed by the provisions of Section 7.3 concerning
title objections.
8. CONDITIONS TO CLOSING. CRA shall not be obligated to close on the
purchase of the Property unless each of the following conditions (collectively, the "Conditions to
Closing") are either fulfilled or waived by CRA in writing:
8.1. Representations and Warranties. All of the representations and warranties
of SELLERS contained in this Agreement shall be true and correct as of Closing.
8.2. Condition of Property. The physical condition of the Property shall be the
same on the date of Closing as on the Effective Date, reasonable wear and tear excepted.
8.3. Pending Proceedings. At Closing, there shall be no litigation or
administrative agency or other governmental proceeding of any kind whatsoever, pending or
threatened, which has not been disclosed, prior to closing, and accepted by CRA.
8.4. Compliance with Laws and Regulations. The Property shall be in
compliance with all applicable federal, state and local laws, ordinances, rules, regulations, codes,
requirements, licenses, permits and authorizations as of the date of Closing.
9. CLOSING DOCUMENTS. The CRA shall prepare, or cause to be
prepared, the Closing Documents set forth in this Section, except for documents prepared by the
Title Company. At Closing, SELLERS shall execute and deliver, or cause to be executed and
delivered, to CRA the following documents and instruments:
9.1. Deed. A Warranty Deed (the "Deed") conveying to CRA valid, good,
marketable and insurable fee simple title to the Property free and clear of all liens, encumbrances
and other conditions of title other than the Permitted Exceptions.
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PURCHASE AGREEMENT
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9.2 Seller's Affidavits. SELLERS shall furnish to CRA an owner's affidavit
attesting that, to the best of its knowledge, no individual or entity has any claim against the
Property under the applicable construction lien law; and that there are no parties in possession of
the Property other than SELLERS. SELLERS shall also furnish to CRA a non-foreign affidavit
with respect to the Property. In the event SELLERS are unable to deliver its affidavits referenced
above, the same shall be deemed an uncured title objection.
9.3. Closing Statement. A closing statement setting forth the Purchase Price,
the Deposit, all credits, adjustments and prorations between CRA and SELLERS, all costs and
expenses to be paid at Closing, and the net proceeds due SELLERS, which CRA shall also
execute and deliver at Closing.
9.4. Corrective Documents. Documentation required to clear title to the
Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions.
9.5. Additional Documents. Such other documents as CRA or the Title
Company may reasonably request that SELLERS execute and deliver, and any other documents
required by this Agreement or reasonably necessary in order to close this transaction and
effectuate the terms of this Agreement.
10. PRORA nONS. CLOSING COSTS AND CLOSING PROCEDURES.
10.1. Prorations. Taxes, assessments, rents, interest, insurance and other
expenses of the Property shall be prorated through the day before Closing. CRA shall have the
option of taking over existing policies of insurance, if assumable, in which event premiums shall
be prorated. Cash at Closing shall be increased or decreased as may be required by prorations to
be made through the day prior to Closing. Advance rent and security deposits, if any, will be
credited to CRA. Taxes shall be prorated based upon the current year's tax with due allowance
made for maximum allowable discount. If Closing occurs at a date when the current year's
millage is not fixed and current year's assessment is available, taxes will be prorated based upon
such assessment and prior year's millage. If current year's assessment is not available, then
taxes will be prorated on prior year's tax. A tax proration based on an estimate shall, at request
of either party, be readjusted upon receipt of tax bill.
10.2. Special Assessment Liens. Certified, confirmed and ratified special
assessment liens imposed by public bodies as of Closing are to be paid by SELLERS. Pending
liens as of Closing shall be assumed by CRA. If the improvement has been substantially
completed as of the Effective Date, any pending lien shall be considered certified, confirmed or
ratified and SELLERS shall, at Closing, be charged an amount equal to the last estimate or
assessment for the improvement by the public body.
10.3. Closing Costs. Seller shall pay for all documentary stamps on the deed,
recording the deed and half of all general closing expenses (settlement fee, courier fees,
overnight packages, etc.said "general closing expenses" not to exceed $350.00). All other costs
of closing shall be borne by CRA.
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PURCHASE AGREEMENT
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10.4 Closing Procedure. CRA shall fund the Purchase Price subject to the
credits, offsets and prorations set forth herein. SELLERS and CRA (as applicable) shall execute
and deliver to Closing Agent the Closing Documents. The Closing Agent shall, at Closing: (i)
disburse the sale proceeds to SELLERS; (ii) deliver the Closing Documents and a "marked-up"
Title Commitment to CRA, and promptly thereafter, record the Deed and other recordable
Closing Documents in the appropriate public records.
10.5 Existing Mortgages and Other Liens. At Closing, SELLERS shall obtain,
or cause to be obtained, satisfaction or release of record of all mortgages, liens and judgments
applicable to and encumbering the Property.
11. REPRESENTATIONS. COVENANTS AND WARRANTIES.
11.1 Seller's Representations and Warranties. SELLERS hereby represents,
covenants and warrants to CRA, as of the Effective Date and as of the Closing Date, as follows:
11.2. Authority. The execution and delivery of this Agreement by SELLERS
and the consummation by SELLERS of the transaction contemplated by this Agreement are
within SELLER'S capacity and all requisite action has been taken to make this Agreement valid
and binding on SELLERS in accordance with its terms. The person executing this Agreement on
behalf of SELLERS has been duly authorized to act on behalf of and to bind SELLERS, and this
Agreement represents a valid and binding obligation of SELLERS.
11.3. Title. SELLERS are and will be on the Closing Date, the owner of valid,
good, marketable and insurable fee simple title to the Property, free and clear of all liens,
encumbrances and restrictions of any kind, except the Permitted Exceptions (and encumbrances
of record which will be discharged at Closing).
12. DEFAULT.
12.1. Purchaser's Default. In the event that this transaction fails to close due to
a wrongful refusal to close or default on the part of CRA, subject to the provisions of Paragraph
12.3 below, the Deposit actually then being held by the Escrow Agent shall be paid by Escrow
Agent to SELLERS as agreed liquidated damages and, thereafter, neither CRA nor SELLERS
shall have any further obligation or liabilities under this Agreement, except for those expressly
provided to survive the termination of this Agreement; provided, however, that CRA shall also
be responsible for the removal of any liens asserted against the Property by persons claiming by,
through or under CRA, but not otherwise. CRA and SELLERS acknowledge that if CRA
defaults, SELLERS will suffer damages in an amount which cannot be ascertained with
reasonable certainty on the Effective Date and that the amount of the Deposit being held by
Escrow Agent most closely approximates the amount necessary to compensate SELLERS. CRA
and SELLERS agree that this is a bona fide liquidated damages provision and not a penalty or
forfeiture provision.
12.2. Seller's Default. In the event that SELLERS shall fail to fully and timely
perform any of its obligations or covenants hereunder or if any of SELLER'S representations are
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PURCHASE AGREEMENT
Page 7 of ] 2
untrue or inaccurate, then, notwithstanding anything to the contrary contained in this Agreement,
CRA may, at its option: (1) declare SELLER'S in default under this Agreement by notice
delivered to SELLERS, in which event CRA may terminate this Agreement and demand that the
Deposit be returned, including all interest thereon if any, in accordance with Section 3 and
neither Party shall have any further rights hereunder or (2) seek specific performance of this
Agreement, without waiving any action for damages.
12.3. Notice of Default. Prior to declaring a default and exercising the remedies
described herein, the non-defaulting Party shall issue a notice of default to the defaulting Party
describing the event or condition of default in sufficient detail to enable a reasonable person to
determine the action necessary to cure the default. The defaulting Party shall have fifteen (15)
days from delivery of the notice during which to cure the default, provided, however, that as to a
failure to close, the cure period shall only be three (3) Business Days from the delivery of notice.
Both parties agree that if an extension is requested, such extension shall not be unreasonably
withheld. If the default has not been cured within the aforesaid period, the non-defaulting Party
may exercise the remedies described above.
12.4. Survival. The provisions of this Section 12 shall survive the termination
of this Agreement.
13. NOTICES. All notices required in this Agreement must be in writing and shall be
considered delivered when received by certified mail, return receipt requested, or personal
delivery to the following addresses:
If to Sellers:
Jeffrey and Elizabeth Shaffer
820 NE 6th Street
Delray Beach, FL 33483
If to Purchaser:
Boynton Beach Community Redevelopment Agency
915 S. Federal Highway
Boynton Beach, Florida 33435
PH: 561/737-3256
FX: 561/737-3258
With a copy to:
Kenneth G. Spillias, Esq.
Lewis, Longman & Walker, P.A.
1700 Palm Beach Lakes Boulevard, Suite 1000
West Palm Beach, Florida 33401
PH: 561/640-0820
FX: 561/640-8202
14. BINDING OBLIGATION/ASSIGNMENT. The terms and conditions of this
Agreement are hereby made binding on, and shall inure to the benefit of, the successors and
permitted assigns of the Parties hereto. SELLERS may not assign its interest in this Agreement
without the prior written consent of CRA, which shall not be unreasonably withheld. CRA shall
have the right to assign this Agreement to the City of Boynton Beach (the "City") without the
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PURCHASE AGREEMENT
Page 8 of 12
prior consent of SELLERS and the CRA shall be released from any further obligations and
liabilities under this Agreement. The CRA may not assign this Agreement to any other party
without the prior written approval of SELLERS, which approval can be withheld in SELLERS'
sole and absolute discretion. If CRA has been dissolved as an entity while this Agreement
and/or the attached Lease Agreement are in effect, the provisions of section 163.357(1), Florida
Statutes, (as it may be amended from time to time), shall apply.
15. RISK OF LOSS. In the event the condition of the Property, or any part thereof, is
materially altered by an act of God or other natural force beyond the control of SELLERS, CRA
may elect, as its sole option, to terminate this Agreement and the parties shall have no further
obligations under this agreement and all Deposits hereunder shall be refunded to CRA, or CRA
may accept the Property without any reduction in the value of the Property.
16. BROKER FEES. The SELLERS hereby confirm that they have retained Federico
Rochwerger, P A of Coldwell Banker Commercial as their broker in connection with the
transaction contemplated by this Agreement. Each Party shall indemnify, defend and hold
harmless the other Party from and against any and all claims, losses, damages, costs or expenses
(including, without limitation, attorney's fees) of any kind or character arising out of or resulting
from any agreement, arrangement or understanding alleged to have been made by either Party or
on its behalf with any broker or finder in connection with this Agreement. The provisions of this
Section shall survive Closing or termination of this Agreement.
17.0 Environmental Conditions.
17.1. For purposes of this Agreement, pollutant ("Pollutant") shall mean any
hazardous or toxic substance, material, or waste of any kind or any contaminant, pollutant,
petroleum, petroleum product or petroleum by-product as defined or regulated by environmental
laws. Disposal ("Disposal") shall mean the release, storage, use, handling, discharge, or disposal of
such Pollutants. Environmental laws ("Environmental Laws") shall mean any applicable federal,
state, or local laws, statutes, ordinances, rules, regulations or other governmental restrictions.
17.1.1 As a material inducement to CRA entering into this Agreement, SELLERS
hereby warrants and represents the following, as applicable:
(1) That SELLERS and occupants of the Property have obtained and are
in full compliance with any and all permits regarding the Disposal of Pollutants on the Property or
contiguous property owned by SELLERS, to the best of SELLERS knowledge.
(2) SELLERS are not aware nor does it have any notice of any past,
present or future events, conditions, activities or practices which may give rise to any liability or
form a basis for any claim, demand, cost or action relating to the Disposal of any Pollutant on the
Property. SELLERS are not aware nor does it have any notice of any past, present or future
events, conditions, activities or practices on contiguous property that is owned by SELLERS which
may give rise to any liability or form a basis for any claim, demand, cost or action relating to the
Disposal of any Pollutant affecting the SELLERS property.
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PURCHASE AGREEMENT
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(3) There is no civil, criminal or administrative action, suit, claim,
demand, investigation or notice of violation pending or, to the best of that entity's knowledge,
threatened against SELLERS or the Property relating in any way to the Disposal of Pollutants on
the Property, any portion thereof, or on any contiguous property owned by SELLERS.
17.2 Additional Warranties and Representations of SELLERS. As a material
inducement to CRA entering into this Agreement, SELLERS, to the best of SELLERS information
and belief, hereby represents and warrants the following:
17.2.1 There are no pending applications, permits, petitions, contracts, approvals,
or other proceedings with any governmental or quasi-governmental authority, including but not
limited to, CRA, municipalities, counties, districts, utilities, and/or federal or state agencies,
concerning the use or operation of, or title to the Property or any portion thereof and SELLERS
have not granted or is not obligated to grant any interest in the Property to any of the foregoing
entities.
17.2.2 There are no facts believed by SELLERS to be material to the use,
condition and operation of the Property in the manner that it has been used or operated, which it
has not disclosed to CRA herein, including but not limited to unrecorded instruments or defects in
the condition of the Property which will impair the use or operation of the Property in any manner.
17.2.3 To the best of SELLER'S knowledge, the Property and the use and
operation thereof are in compliance with all applicable county and governmental laws, ordinances,
regulations, licenses, permits and authorizations, including, without limitation, applicable zoning
and environmental laws and regulations.
17.3 SELLERS Deliveries.
SELLERS shall deliver to CRA the following documents and instruments within
ten (10) days ofthe Effective Date of this Agreement, except as specifically indicated:
17.3.1 Copies of any reports or studies (including engineering, environmental, soil
borings, and other physical inspection reports), in SELLER'S possession or control with respect to
the physical condition or operation of the Property, if any.
17.3.2 Copies of all licenses, variances, waivers, permits (including but not
limited to all surface water management permits, wetland resource permits, consumptive use
permits and environmental resource permits), authorizations, and approvals required by law or
by any governmental or private authority having jurisdiction over the Property, or any portion
thereof (the "Governmental Approvals"), which are material to the use or operation of the
Property, if any,
17.3.3 On the Closing Date, SELLERS shall execute and deliver to CRA any and
all documents and instruments required by CRA, in eRA's sole and absolute discretion, which:
(i) effectuate the transfer to CRA of those Governmental Approvals, or portions thereof which
are applicable to the Property, that CRA desires to have assigned to it, and/or (ii) cause the
Property to be withdrawn from any Governmental Approvals. No later than thirty (30) days prior
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PURCHASE AGREEMENT
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to the Closing Date, SELLERS shall remedy, restore, and rectify any and all violations of the
Governmental Approvals (including but not limited to any and all portions of the surface water
management system, mitigation areas or other items which do not comply with the
Governmental Approvals or applicable rules), if any. SELLERS warrant that there will not be, at
the time of Closing, any unrecorded instruments affecting the title to the Property, including, but
not limited to any conveyances, easements, licenses or leases.
18. MISCELLANEOUS.
18.1. General. This Agreement, and any amendment hereto, may be executed in
any number of counterparts, each of which shall be deemed to be an Oliginal and all of which
shall, together, constitute one and the same instrument. The section and paragraph headings
herein contained are for the purposes of identification only and shall not be considered in
construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire
Section, unless otherwise specified. No modification or amendment of this Agreement shall be
of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire
agreement between the Parties relating to the Property and all subject matter herein and
supersedes all prior and contemporaneous negotiations, understandings and agreements, written
or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of
the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising
out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County,
Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States
District Court for the Southern District Court of Florida.
18.2. Computation of Time. Any reference herein to time periods which are not
measured in Business Days and which are less than six (6) days, shall exclude Saturdays,
Sundays and legal holidays in the computation thereof. Any time period provided for in this
Agreement which ends on a Saturday, Sunday or legal holiday shall extend to 5 :00 p.m. on the
next full Business Day. Time is of the essence in the performance of all obligations under this
Agreement. Time periods commencing with the Effective Date shall not include the Effective
Date in the calculation thereof.
18.3. Waiver. Neither the failure of a party to insist upon a strict performance
of any of the terms, provisions, covenants, agreements and conditions hereof, nor the acceptance
of any item by a party with knowledge of a breach of this Agreement by the other party in the
performance of their respective obligations hereunder, shall be deemed a waiver of any rights or
remedies that a party may have or a waiver of any subsequent breach or default in any of such
terms, provisions, covenants, agreements or conditions. This paragraph shall survive termination
of this Agreement and the Closing.
18.4. Construction of Agreement. The Parties to this Agreement, through
counsel, have participated freely in the negotiation and preparation hereof. Neither this
Agreement nor any amendment hereto shall be more strictly construed against any of the Parties.
As used in this Agreement, or any amendment hereto, the masculine shall include the feminine,
the singular shall include the plural, and the plural shall include the singular, as the context may
require. Provisions of this Agreement that expressly provide that they survive the Closing shall
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PURCHASE AGREEMENT
Page 11 ofl2
not merge into the Deed.
18.5. Severability. If any provision of this Agreement or the application thereof
shall, for any reason and to any extent, be invalid or unenforceable, neither the remainder of this
Agreement nor the application of the provision to other persons, entities or circumstances shall
be affected thereby, but instead shall be enforced to the maximum extent permitted by law. The
provisions of this Section shall apply to any amendment of this Agreement.
18.6 Handwritten Provisions. Handwritten provisions inserted in this Agreement
and initialed by CRA and SELLERS shall control all printed provisions in conflict therewith.
18.7 Waiver of JUry Trial. As an inducement to CRA agreeing to enter into this
Agreement, CRA and SELLERS hereby waive trial by jury in any action or proceeding brought by
either party against the other party pertaining to any matter whatsoever arising out of or in any way
connected with this Agreement.
18.8. Attorneys Fees and Costs. Should it be necessary to bring an action to
enforce any of the provisions of this Agreement, reasonable attorneys' fees and costs, including
those at the appellate level, shall be awarded to the prevailing party.
18.9 Binding Authority. Each party hereby represents and warrants to the other
that each person executing this Agreement on behalf of the CRA and SELLERS have full right
and lawful authority to execute this Agreement and to bind and obligate the party for whom or
on whose behalfhe or she is signing with respect to all provisions contained in this Agreement.
18.10 Recording. This Agreement may be recorded in the Public Records of
Palm Beach County, Florida.
18.11 Survival. The covenants, warranties, representations, indemnities and
undertakings of SELLERS set forth in this Agreement, shall survive the Closing, the delivery and
recording of the SELLERS Property Deed and CRA's possession of the Property.
18.12 SELLERS Attorneys' Fees and Costs. SELLERS acknowledges and
agrees that SELLERS shall be responsible for its own attorneys' fees and all costs, if any,
incurred by SELLERS in connection with the transaction contemplated by this Agreement.
SIGNA TURES ON FOLLOWING PAGE
11
PURCHASE AGREEMENT
Page 12 of 12
date.
IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective
BOYNTON BEACH
COMMUNITY REDEVELOPMENT
AGENCY
By:
Henderson Tillman, Chairperson
Date:
Witnesses:
Print Name
Print Name
Approved as to form and legal sufficiency:
CRA Attorney
SELLER
] effery Shaffer
Date:
Elizabeth Shaffer
Witnesses:
Print Name
Print Name
I:\Client Documents\Boynton Beach CRA\375-002\Misc\Robinson Purchase Agreement.doc
12
m.-
~RT
Affiliated Business Arrangement Disclosure Statement
To:
Consumer
From:
NRT Commercial, Inc d/b/a Coldwell Banker Commercial NRT
Thank you for contacting us, your local Coldwell Banker Commercial NRT office (hereinafter "Broker"), in connection with the
purchase or sale of a home or other property. This is to give you notice that Broker has a business relationship with the companies
listed in this Statement, in that each of the companies is wholly or partially owned either directly or indirectly by NRT Incorporated or
by Realogy Corporation. Realogy Corporation indirectly wholly owns NRT Incorporated, a parent company of your local Broker and
other brokerage offices throughout the nation. Realogy Corporation also owns the franchisor of the Coldwell Banker(r), Coldwell
Banker Commercial(r), Century 21(r), ERA(r),and Sotheby's International Realty(r)systems. Because of these relationships, the
referral of business to these companies may provide us, our employees or other related parties noted herein a financial or other
benefit.
In connection with providing real estate brokerage services, Broker may receive a commission or a cooperative brokerage referral
fee for a referral to another real estate brokerage company (which is typical in the real estate brokerage industry); however, this will
not affect the amount you pay to purchase or sell a property.
We have set forth below the full range of services that these companies provide, along with an estimate of the range of charges
generally made for these services. You are NOT required to use the listed companies as a condition of the purchase or sale of your
property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE
FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE
SERVICES.
I Estimate Of Range Of Charges I
Companies HUD-1 Description/Line Designation I
Generally Made By Provider (1) I
I
PHH Home Loans. LLC d/b/a Coldwell Banker Home Loans: Loan origination fee (801) : 0 - 2% of loan amount
I
Provides a full range of residential first mortgage loan products and Loan discount fee/points (802) (2) I 0 - 5% of loan amount
services. Application fee (800 Serres) (3) i $0-$350
PHH Home Loans. LLC d/b/a Sunbelt Lendina Services: Loan origination fee (801) I 0 - 4% of loan amount ~
Provides a full range of residential first mortgage loan products and
I services Loan discount fee/points (802) (2,3) I 0 - 4% of loan amount
I
Mid-Exchanae. Inc.: Acts as a qualified intermediary for IRe Additional settlement charges (1300 Series) I $500.00 - $3.00000
1 031Tax Deferred Exchanges. t
Sunbelt Title Aaencv: Provides searches of public records that i
I 05% - 1.25% of the property I
bring to your attention any known problems with the property's title I Purchase of title policies (1108 - 1110) 1
before clOSing, and insures against loss due to certain title defects i I purchase price
I
NRT Insurance Aaencv. Inc.: Provides insurance agency Hazard Insurance Premium (903) l $7.50 - $12 00 per thousand dollars I
services for homeowners and other types of insurance. ! of replacement cost of dwelling I
1 Actual charges may vary according to the particular circumstances underlying the transaction, including the home value, coverage and limits, other i
I
requested terms and services, unusual market conditions, government regulations, property location and features, and other similar factors. Rates may
not be the lowest available and are subject to change. For a free, no obligation quote, please contact the company directly. Where required by state law,
current rates for Insurance are filed with the applicable state agency, and depending upon the Circumstances, may vary from the rates shown above.
2 The loan discount fee/points are affected by the note rate Depending upon market conditions, the loan discount fee/pOints may be higher to adjust for
below-market rates.
3 There are other charges Imposed in connection with mortgage loans In addition. a lender may require the use of other service providers, including but not
limited to an attorney, credit reporting agency or real estate appraiser chosen to represent the lender's interest If you apply to any of these companies for
a loan, you will receive additional information regarding anticipated charges
Although not affiliated business arrangements, please also note the following: certain Brokers market the Coldwell Banker Home
Protection Plan (as provided and administered by Service Plan of Florida, Inc.) and ADT@ Security Services, as well as other
products and services. Broker, its employees or its affiliate(s) may receive a financial or other benefit in connection with the products
or services described herein.
Acknowledgement of Receipt of Disclosure
I/We have received the Affiliated Business Arrangement Disclosure Statement from Broker and understand that Broker may refer
me/us to the settlement service providers listed in this Statement. Broker, its employees or its affiliate(s) may receive a financial or
other benefit as the result of that referral.
Name
Date
Name
Date
COLDWEll BANKEROO and COLDWEll BANKER COMMERCIAlOO are registered trademarks licensed to Coldwell Banker Corporation. ERAOO is a registered trademark
licensed to ERA Franchise Systems, Inc, CENTURY 2100 is a registered trademark licensed to Century 21 Real Estate Corporation.
An Equal Opportunity Company. ~ Equal Housing Opportunity.
Form generated by True Forms'. from REVEAL <e SYSTEMS, Inc 800-499-9612
Owned and Operated by NRT Incorporated
@ 2006 NRT Incorporated. Revised August 2006
-
NRT
Buyer's Disclosure and Acknowledgment Form
---~---_._-- _. ._-_._--------_.,._-.~~._--~--~---------_.._.,.._---_.-----
1. LEGAL REQUIREMENT. All contracts for the sale of real property are required to be in writing and signed by all parties to be enforceable. Banker,
its sales associates and employees (collectively, "Broker") recommends that you consult with an attorney prior to entering into any contract.
2. ESCROW. Monies placed in escrow with Broker will be held in compliance with Chapter 475, Florida Statutes. You agree that Broker, if appointed
as escrow agent, may deposit the escrowed funds in a non-interest bearing account with a financial institution chosen by Broker and that the
financial institution, Broker or any of its related companies may obtain a direct or indirect benefit in connection with such deposit.
3. SURVEYS AND INSPECTIONS. Broker recommends that you (a) exercise your right to obtain a survey of the property and any professional
inspections, including a comprehensive inspection which includes, but is not limited to, environmental, roof, termite, permits, plumbing and septic,
electrical, HVAC, and structural components; (b) retain your chosen inspector to reinspect the property to ensure that all required repairs have been
made by an appropriately licensed person and in a workmanlike manner; and (c) personally perform a walk-through inspection of the Property just
prior to closing to ensure that the Property has been kept in the agreed upon condition and to confirm that all items are present which were agreed
upon in the contract. f the property is located in a coastal area. it may be impacted by regulations affecting its use, including regulations regarding
coastal construction control lines ("CCCL") as defined by 9161.053, FS. To determine whether the property is located seaward of a CCCL, Broker
recommends that you contact the Florida Department of Environmental Protection at (850) 245-2118 or via the internet at www.dep.statefl.us. You
agree not to rely on Broker to determine the property condition, CCCL impact, property boundaries, square footage, the nature or extent of any
easements or encroachments, or to inspect, reinspect or perform your walk-through inspection of the property. as they are not qualified to make such
specialized determinations.
4. MULTIPLE OFFERS. Even though you may have entered into an authorized brokerage relationship with Broker, you understand and agree that
multiple offers may be presented on the property on which you make an offer, including offers through other of Broker's sales associates who have
entered into similar brokerage relationships with other prospective buyers. A seller is under no obligation to negotiate offers in the order received and
it is at the seller's discretion as to which offer to accept, reject or negotiate. You should not assume that your offer has been accepted until a fully
executed contract has been delivered to you.
5. THIRD PARTY VENDORS. As a courtesy, Broker and its representatives may provide you with one or more names of service providers including,
but not limited to, home inspectors, engineers, contractors, repairpersons, or attorneys that other consumers have used or of whom we are aware.
The providing of such names shall not in any way be construed to be a recommendation or endorsement of, nor is Broker or its representatives
warranting the work of, any of the named providers. The final choice of any service provider rests solely with you and you are free to choose any
provider, whether the name appears on any list or not. You agree to hold Broker harmless from any and all claims or losses that in any way arise out
of, or relate to, the selection or use of any such service provider
6. PROPERTY TAXES. As a prospective buyer, you should not rely on the seller's current property tax assessment as the amount of property tax that
you may be obligated to pay. A change of ownership or property improvements may trigger reassessment of the property to market value that could
result in higher property taxes.
7. MOLD DISCLOSURE. Conditions in Florida can be conducive for mold growth. As a prospective buyer, you should pay attention to any visual
signs of the presence of mold or the presence of mildew odors. If this is important to you, you should add a provision to your contract offer that gives
you the right to conduct a mold inspection to determine whether mold is present. For more information, go to the EPA website at www.epa.gov!iaq
and click on "Mold Resources".
8. AMERICANS WITH DISABILITIES ACT. As an owner or tenant of the property, you may be subject to the Americans with Disabilities Act, 42
U.S.C. 912001 et seq., the Florida Americans with Disabilities Accessibility Implementation Act, Fla. Stat. 9553501 et seq., or other related or
similar federal, state or local laws, rules or regulations. Among other requirements, you may be required to remove barriers to access by disabled
persons and provide auxiliary aids and services for hearing, vision, or speech impaired persons. Broker and its representatives recommend that you
consult with an attorney to determine the nature and extent of such requirements, if any. You agree to be responsible for conducting your own
independent investigation and not to rely in any way on any representation by Seller! Landlord or Broker or its representatives in connection
therewith.
9. PROPERTY DATA. Broker and its representatives may provide you with available property and investment information including, but not limited to,
zoning, land use, property taxes, rent rolls, budgets, financial statements and reports, projections and property condition reports. This information
may be obtained from various sources including but not limited to the property owner, public records, and commercial property exchange services.
Although Broker and its representatives believe this information is reliable, they do not warrant it and further recommend that you consult with an
attorney, accountant or other appropriate professional to determine the suitability of the property.
10. RADON. Radon is a naturally occurring radioactive gas that, when accumulated in sufficient quantities, may present health risks to persons who are
exposed to it over time Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information
regarding radon and radon testing may be obtained from your county publiC health unit.
11. PROFESSIONAL SERVICES FEE. You agree to pay Broker a Professional Services Fee of $295.00 at closing This fee will not be due if, for any
reason, closing does not occur.
12. GOVERNING LAW. VENUE. LIMITATION OF LIABILITY. AND WAIVER. In the event of any dispute arising out of or in any way relating to your
purchase of property or the relationship between you and Broker, it is agreed that (i) Florida law shall govern, (ii) venue shall be exclusively in the
state courts of Broward County, Florida, (iii) any claim by you for damages of any nature shall not exceed the amount of the commission that Broker
was paid. or would have been paid, in connection with the transaction, and (iv) BROKER AND YOU KNOWINGLY AND VOLUNTARILY WAIVE
ANY CLAIM FOR PUNITIVE DAMAGES AND ANY RIGHT TO JURY TRIAL IN ANY LITIGATION.
13. AFFILIATED BUSINESS DISCLOSURE. You acknowledge receipt of Broker's Affiliated Business Arrangement Disclosure Statement.
As a condition of Broker's representation of you, you agree to the foregoing.
Buyer:
Date
Buyer:
Date
Copyright 2006 Coldwell Banker Commercial NRT
An Equal Opportunity Company. An Equal Housing Opportunity. Owned and Operated by NRT. Incorporated (06/06)
Form generated by: True Forms'" from REVEAL~sYSTEMS. Inc 800-499-9612
Brokerage Relationship Disclosure
FLORIDA ASSOCIATION OF REAL TORS@
_I
NR~___~~J
L.-~~__.__________,~_~_~____________~~____~____,_______._
TRANSACTION BROKER NOTICE
As a transaction broker, Coldwell Banker Commercial NRT and its associates, provides to you a limited form of
representation that includes the following duties:
1. Dealing honestly and fairly;
2. Accounting for all funds;
3. Using skill, care, and diligence in the transaction;
4. Disclosing all known facts that materially affect the value of residential real property and are not readily observable to
the buyer;
5. Presenting all offers and counteroffers in a timely manner, unless a party has previously directed the licensee
otherwise in writing;
6, Limited confidentiality, unless waived in writing by a party. This limited confidentiality will prevent disclosure that the
seller will accept a price less than the asking or listed price, that the buyer will pay a price greater than the price
submitted in a written offer, of the motivation of any party for selling or buying property, that a seller or buyer
will agree to financing terms other than those offered, or of any other information requested by a party to remain
confidential; and
7. Any additional duties that are entered into by this or by separate written agreement.
Limited representation means that a buyer or seller is not responsible for the acts of the licensee. Additionally, parties are
giving up their rights to the undivided loyalty of the licensee. This aspect of limited representation allows a licensee to
facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one
party to the detriment of the other party when acting as a transaction broker to both parties.
Date Signature
Signature
Copy returned to Customer on the day of
, ~_ by: n personal delivery n mail ~ facsimile.
Copyright 2006 Coldwell Banker Commercial NRT
An Equal Opportunity Company An Equal Housing Opportunity. Owned and Operated by NRT. Incorporated (rev. 7/06)
Form generated by: True Forms'" www.TrueForms.com
800-499-9612
~
NRT
BUYER'S ESTIMATED EXPENSES
PROPERTY ADDRESS: 208 NE 1st ST, Boynton Beach, FL 33435-3809
PURCHASE PRICE:
lOAN AMOUNT
$
640,00000
Title Insurance
Recording Deed and Mortgage
Closing Fee
Title Exam Fee
Appraisal Fee
Discount Points
Mortgage Title Insurance
Survey
Recording Purchase Money Mortgage (if held by seller)
Documentary Stamps (.35/$100)
State Intangible Tax (.002/$100)
Mortgage Origination fee (1%)
T ax Service Fee
Attorney Fee
Email Documents
Disbursement Fee
Document Preparation Fee
Building & Termite Inspection
Environmental Inspection
Soils Test
Application Fee
Professional Services Fee to Coldwell Banker'
Other Endorsments, Warehouse Fee, S&H, FI Form 9, etc.)
ESCROW DEPOSITS/PREPAIDS
Interim Interest _ days @ /day
Taxes _ mos. @ /mo
Bldg. Insurance _ mos. @ /mo.
Flood Insurance _ mos. @ /mo.
Mortgage Insurance _ mos. @ /mo.
TOTAL CLOSING COSTS
PLUS TOTAL DOWN PAYMENT
ESTIMA TED CLOSING MONNIES
ESTIMA TED MONTHLY PAYMENTS:
Principal and Interest (@7% Interest)
Taxes
Insurances
Other
ESTIMATED TOTAL:
$
$
$
300.00
100.00
2,00000
$
350.00
$
$
$
$
1,50000
$
$
300.00
300.00
$
$
300.00
See Good Faith Estimate
See Good Faith Estimate
See Good Faith Estimate
See Good Faith Estimate
See Good Faith Estimate
$ 5,15000
$ 640,00000
$ 645,15000
'State law requires real estate companies to maintain files and records and to make them available for state inspection on all transactions
performed by the company for at least 5 years The Professional Services Fee paid to Coldwell Banker is intended,
in part, to assist in covering the cost of processing, storage, and maintenance of those records.
I/We understand that the above closing costs and figures, including the amount of existing mortgages, are estimates and intended
only as a guide. The final cost and all prorations will be determined by the closing agent and the approved financing. I/We further understana
that COLDWEll BANKER COMMERCIAL NRT in no way warrants or guarantees any of the above estimated figures and Buyer
agrees to contact the closing agent directly for exact figures when available.
Buyer acknowledges that this Buyer's Estimated Expenses form has been provided to Buyer prior to signing a Contract for Sale
and Purchase for the Property.
$0.00
See Good Faith Estimate
See Good Faith Estimate
See Good Faith Estimate
See Good Faith Estimate
Buyer
Buyer
Date
'ndependently Owned and Operated by NRT INCORPORA TED
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APPRAISAL OF
208 NORTHEAST 1 ST STREET
AND ADJOINING LOT
ON NORTHEAST 1ST AVENUE
BOYNTON BEACH, FLORIDA
JEFFREY & ELIZABETH SHAFFER
FOR
BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY
BY
ROBERT B. BANTING, MAl, SRA
STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ4
AND
GARY K. ORR
STATE-CERTIFIED GENERAL REAL ESTATE APPRAISER RZ2335
WITH
ANDERSON & CARR, INC.
521 SOUTH OLNEAVENUE
WEST PALM BEACH, FLORIDA 33401
DATE OF VALUE: FEBRUARY 26,2006
DATE OF REPORT: FEBRUARY 28,2007
FILE NO.: 270120.000
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ROBERT B. BA"iTING, \1AI, SRA, PRESIDENT
Stlle-Cenllied Gent,"1 Real Est2,e Appraiser RZ4
FRA.NK J. CARDO, MAL VICE PRESIDENT
St2te-Cemfied Geleral Real E5t21e Appraiser RZI190
~()~V~()~ & C~VI)~ I~C~
<<<< <<<< <<<<<<<<<<<<<<<< <<<< << <<<<<<<< <<<< <<<<<< <<<< <<<< <<<<<< <<<< <<<<<< Appraisers . Realtors )))) ))))))))))))):)))))))))))))))))))))))))))))))))))))))) ))))))))))))))))))))))
521 SOUTH OLIVE A V El'iLJE
WEST PALM BEACH, FLORIDA 33401
Wv';V,/ .andersoncarr.com
Telephone (561) 833-1661
Fax (561) 833-0234
February 28, 2007
Qyauty d)emce d)mce 1947
Vivian Brooks, Planning Director
Boynton Beach Community Redevelopment Agency
915 South Federal Highway
Boynton Beach, Florida 33435
Dear Ms. Brooks:
At your request, we have appraised the real property situated in the northeast quadrant of
Northeast 1'1 Street and Northeast 151 Avenue in central Boynton Beach, Florida. The purpose
of this appraisal is to estimate the market value, fee simple estate of the subject, as of February
26, 2007. The intended use of this report is for purchase considerations. The intended user of
this report is the client, the Boynton Beach Community Redevelopment Agency.
The subject site is an 'L' shaped tract that wraps around a corner parcel. The subject has 62,5
feet on Northeast 1st Street and 110 feet on Northeast IS! Avenue. It contains a total of 20,750
square feet which is 0.48 acres. The property is improved with a small, older, wood frame single
family home that faces Northeast 1st Street. However, the value of the property lies in the land
due to the age, condition, design, and size of the improvements.
The property is located in a redevelopment area, the Ocean District Community
Redevelopment Area, with community intentions of mixed use redevelopment for the locale.
The highest and best use of the subject lot is for residential, mixed use, or assemblage for a
larger project. The property is zoned for residential use but its location next to the city
municipal complex and commercial uses along Boynton Beach Boulevard suggest the highest
and best use would be for use in a mixed use project. Zoning and land use changes incorporate
this into changes being made to current regulations in order to implement the redevelopment
plan.
We have used the Sales Comparison Approach in valuing the subject property as it is vacant
land, The Cost and Income Capitalization Approaches are not applicable.
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Vivian Brooks, Planning Director
Boynton Beach Community Redevelopment Agency
February 28, 2007
As a result of our analysis, we have developed an opinion that the market value
of the subject property (as defined in the report), subject to the definitions,
certifications, assumptions, limiting conditions, as set forth in the attached
report, as of February 26, 2007, was:
SIX HUNDRED TWENTY-FIVE THOUSAND DOLLARS
($625,000)
The following presents the appraisal in a summary report. This letter must
remain attached to the report, which contains 38 pages, in order for the value
opinion set forth to be considered valid. Your attention is directed to the
Assumptions and Limiting Conditions, which follow.
Respectfully submitted,
CARR, IN
Robert B. Bantmg, , SRA
:~ed Gen::teUAPpraiser RZ4
Gary K.~
State-C~d General Real Estate Appraiser RZ2335
RBB/GKO:bar
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TABLE OF CONTENTS
Summary Of Important Facts And Conclusions
Certification .......... ...................... .. ... .. .....
Assumptions And Limiting Conditions. .. ..... ......
Subject Property Photos.. .. .., ...
Location / Area Maps.............. ......
Satellite Images........... ..............
Plat Maps...................... .. . . ......
Purpose And Date Of Appraisal..
Property Appraised ..................... ..... . .... .... ... ....... .. . .... ..
Legal Description...
Client ........... .............
Intended Use And User......
Scope Of Assignment / Work.
Property Rights Appraised ....... . .. .
Definition Of Market Value........
Natural, Cultural, Recreational, .
Neighborhood Data...
Property Data................. ....... ......
Owner Of Record.. .......... ..........
Palm Beach County Property Control Number. ..
Assessed Value And Taxes ................ ..... ......... .......
Flood Zone.....
Census Tract.......
Utilities........................
Zoning / Land Use Plan..... .
Concurrency.......... .. ..... ..
Sales History ..... .. .... ...........
Site Analysis ...........................
Improvement Analysis............
Highest And Best Use.. . . . ....
The Valuation Process .............
Sales Comparison Approach..... .
Summary And Conclusion....
Page No.
. . ..1
3
4
.7
12
13
. ...15
. . 18
. .... ..... ..18
18
.18
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.. . 19
..19
.19
20
...20
22
.22
,..22
.22
.. .22
22
22
.23
23
.23
23
24
25
.25
26
38
Qualifications for Robert B. Banting, MAl, SRA, St. Cert. Gen. REA RZ4
Qualifications for Gary K. Orr, St. Cert. Gen. REA RZ2335
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SUMMARY OF IMPORTANT FACTS AND CONCLUSIONS
Client:
Boynton Beach Community
Redevelopment Agency
Property Owner:
Jeffrey & Elizabeth Shaffer
Property Rights Appraised:
Fee Simple
Special Assumption:
None special
Unusual Market Externality:
None
Location:
Northeast quadrant of
Northeast }'I Street and
Northeast }'I Avenue one-half
block south of East Boynton
Beach Boulevard and one
block east of North Seacrest
Boulevard, Boynton Beach,
Florida.
Site/Land Area:
20,750 SF / 0.48 Acres
Improvements:
1,326 square foot wood frame
home built in 1932.
Hazardous Waste Conditions:
None apparent
Zoning:
Current:
Planned:
R3 (Multi-Family)
Mixed Use Low 3
Comprehensive Land Use:
Current:
Planned:
High Density Residential
Mixed Use
Flood Zone & Map Number:
Zone 'C', Map 120196-0003-C,
Dated September 30, 1982.
1
A~[;('~~()~ & C41:?[?~ [~C.
Curren t Uses:
Residential/vacant. Value of
property is in the land.
Highest and Best Use:
Residential,
Assemblage
Mixed
Use,
Value Conclusions:
Cost Approach:
Income Capitalization Approach:
Sales Comparison Approach:
N/A
N/A
$ 625,000
Final Value Conclusions:
$ 625,000
Date of Value:
Date of Report:
Date of Inspection:
February 26, 2007
February 28, 2007
February 26, 2007
Appraisers:
Robert B. Banting, MAl
State-Certified General
Real Estate Appraiser RZ4
Gary K. Orr
State-Certified General
Real Estate Appraiser RZ2335
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A.~[)~VS()~ 8.: CA-I:?V!j f~C.
CERTIFICATION
I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct
The reported analysis, opinions, and conclusions are limited only by the reported assumptions
and limiting conditions and are my personal, impartial, and unbiased professional analyses,
opinions, and conclusions.
I have no present or prospective interest in the property that is the subject of this report, and no
personal interest with respect to the parties involved.
I have no bias with respect to the property that is the subject of this report or to the parties
involved with this assignment.
My engagement in this assignment was not contingent upon the developing or reporting
predetermined results.
My compensation for completing this assignment is not contingent upon the development or
reporting of a predetermined value or direction in value that favors the cause of the client, the
amount of the value opinion, the attainment of a stipulated result, or the occurrence of a
subsequent event directly related to the intended use of this appraisal.
The reported analyses, opinions, and conclusions were developed, and this report has been
prepared in conformity with the requirements of the Code of Professional Ethics & Standards of
Professional Appraisal Practice of the Appraisal Institute which include the Uniform Standards
of Professional Appraisal Practice.
The use of this report is subject to the requirements of the Appraisal Institute and the State of
Florida Division of Real Estate, Florida Real Estate Appraisal Board, relating to review by their
duly authorized representatives.
As of the date of this report, Robert B. Banting, MAL SRA has completed the continuing
education program of the Appraisal Institute.
Robert B. Banting and Gary K. Orr made a personal inspection of the subject property.
No one provided significant real property appraisal assistance to the person signing this
certification.
~T~"
State-Certified General
Real Estate Appraiser RZ4
r
. ied General
te Appraiser RZ2335
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A~[)~[!S()~ So: CA.l?l?.. I~C.
ASSUMPTIONS AND LIMITING CONDITIONS
1. Unless otherwise stated, the value appearing in this appraisal represents our
opinion of the market value or the value defined AS OF THE DATE SPECIFIED.
Values of real estate are affected by national and local economic conditions and
consequently will vary with future changes in such conditions.
2. Possession of this report or any copy thereof does not carry with it the right of
publication nor may it be used for other than its intended use. The physical report(s)
remains the property of the appraiser for the use of the client. The fee being for the
analytical services only. The report may not be used for any purpose by any person or
corporation other than the client or the party to whom it is addressed or copied without
the written consent of an officer of the appraisal firm of Anderson & Carr, Inc. and the
client stated herein, and then only in its entirety.
3. Neither all nor any part of the contents of this report shall be conveyed to the
public through advertising, public relations efforts, news, sales or other media without
written consent and approval of an officer of Anderson & Carr, Inc. and the client nor
may any reference be made in such public communication to the Appraisal Institute or
the MAl, SRA or SRP A designations.
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4. The appraiser may not divulge the material contents of the report, analytical
findings or conclusions, or give a copy of the report to anyone other than the client or
his designee, as specified in writing except as may be required by the Appraisal
Institute, as they may request in confidence for ethics enforcement or by a court of law
or body with the power of subpoena.
5. Liability of Anderson & Carr, Inc. and its employees is limited to the fee
collected for the appraisal. There is no accountability or liability to any third party.
6. It is assumed that there are no hidden or unapparent conditions of the
property, subsoil, or structures that make it more or less valuable. The appraiser
assumes no responsibility for such conditions or the engineering that might be required
to discover these facts.
7. This appraisal is to be used only in its entirety. All conclusions and opinions
concerning the analysis which are set forth in the report were prepared by the
appraisers whose signatures appear on the appraisal report. No change of any item in
the report shall be made by anyone other than the appraiser and the appraiser and firm
shall have no responsibility if any such unauthorized change is made.
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A~()~l?~()~ So: CAl?l2~ f~C.
8. No responsibility is assumed for matters legal in character or nature, nor
matters of survey, nor of any architectural, structural, mechanical, or engineering
nature. No opinion is rendered as to the title, which is presumed to be good and
merchantable. The property is appraised as if free and clear, unless otherwise stated in
particular parts of the report.
9. No responsibility is assumed for accuracy of information furnished by or from
others, the clients, his designee, or public records. We are not liable for such
information or the work of subcontractors. The comparable data relied upon in this
report has been confirmed with one or more parties familiar with the transaction or
from affidavit. All are considered appropriate for inclusion to the best of our
knowledge and belief.
10. The contract for appraisal, consultation or analytical service is fulfilled and the
total fee payable upon completion of the report. The appraiser or those assisting the
preparation of the report will not be asked or required to give testimony in court or
hearing because of having made the appraisal in full or in part; nor engaged in post-
appraisal consultation with client or third parties, except under separate and special
arrangement and at an additional fee.
11. The sketches and maps in this report are included to assist the reader and are
not necessarily to scale. Various photos, if any, are included for the same purpose and
are not intended to represent the property in other than actual status, as of the date of
the photos.
12. Unless otherwise stated in this report, the existence of hazardous material,
which mayor may not be present on the property, was not observed by the appraiser.
The appraiser has no knowledge of the existence of such materials on or in the
property. The appraiser, however, is not qualified to detect such substances. The
presence of substances such as asbestos, urea-formaldehyde foam insulation or other
potentially hazardous materials may affect the value of the property. The value
estimate is predicated on the assumption that there is no such material on or in the
property that would cause a loss in value. No responsibility is assumed for any such
conditions, or for any expertise or engineering knowledge required to discover them.
The client is urged to retain an expert in this field, if desired.
13. The distribution of the total valuation of this report between land and
improvements, if any, applies only under the existing program of utilization. The
separate valuations for land and building must not be used in conjunction with any
other appraisal, no matter how similar and are invalid if so used.
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A\..,~Uf:I:JS()~ &. C4.I:2[;l~ I,~C.
14. No environmental or impact studies, special market studies or analysis, highest
and best use analysis study or feasibility study has been requested or made unless
otherwise specified in an agreement for services or in the report. The appraiser
reserves the unlimited right to alter, amend, revise or rescind any of the statements,
findings, opinions, values, estimates or conclusions upon any subsequent such study or
analysis or previous study or analysis, subsequently becoming known to him.
15. The value estimated in this appraisal report is gross without consideration given
to any encumbrance, restriction or question of title, unless specifically defined. The
estimate of value in the appraisal report is not based in whole or in part upon the race,
color or national origin of the present owners or occupants of the properties in the
vicinity of the property appraised.
16. This appraisal report has been prepared for the exclusive benefit of the
Boynton Beach Community Redevelopment Agency for acquisition considerations. It
may not be used or relied upon by any other party. Any party who uses or relies upon
any information in this report, without the preparer's written consent, does so at his
own risk.
17. ACCEPTANCE OF, AND/OR USE OF THIS APPRAISAL REPORT
CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS.
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A~l)tl2S{)~ &: CAf:?IQ,! I~C.
SUBJECT PROPERTY PHOTOS
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Front view of the subject on Northeast 1 st Street.
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Front view of the subject on Northeast 1"1 Street.
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Rear view of the subject on Northeast 1't Street.
Front view of the subject on Northeast 1st Avenue,
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~I)~~~()~ &: CA.~l?~ I~C.
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Rear view of the subject on Northeast 1st Avenue.
View looking west from Northeast 2nd Street
with the subject on the left.
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~[)~[?S()~ & CA[?[?~ (~C.
View looking west on Northeast }'1 Avenue with the subject on the right.
View looking east on Northeast }'1 Avenue
with the subject on the left.
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View looking north on Northeast 151 Street
with the subject in the distance on the right.
View looking south on Northeast 1"1 Street with the subject on the left.
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LOCATION / AREA' MAPS
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A~()~t2S()lIli.I & CA[!12~ i~C.
PURPOSE AND DATE OF APPRAISAL
The purpose of this appraisal is to estimate the market value, fee simple estate,
of the subject property, as of February 26,2007,
PROPERTY APPRAISED
The subject property consists of a 20,750 square foot 'L' shaped tract of land
which is improved with a 1,326 square foot, wood frame, single family hom"e
built in 1932. The property fronts Northeast 1st Street and Northeast 1st Avenue
wrapping around a corner parcel. It is situated one-half block south of East
Boynton Beach Boulevard and one block east of North Seacrest Boulevard
within the Ocean District Community Redevelopment area. The value of the
property lies in the land for mixed use redevelopment.
LEGAL DESCRIPTION
The North V2 of Lots 11 and 12, and all of Lots 13 and 14, Block 3, Town of
Boynton, Plat Book 1, Page 23, Palm Beach County. Florida.
Source: Most recent deeds (OR 14989/0063, 14989/0211)"
CLIENT
Boynton Beach Community Redevelopment Agency
915 South Federal Highway
Boynton Beach, Florida 33435
INTENDED USE AND USER
The intended use of this report is for acquisition considerations, The intended
user of this report is the client, the Boynton Beach Community Redevelopment
Agency.
This report has been prepared utilizing generally accepted appraisal guidelines,
techniques, and methodologies as contained within the Uniform Standard of
Professional Practice (USP AP), as promulgated by the Appraisal Foundation.
As State-Certified Appraisers, we are bound by these standards and regulated
by the Florida Real Estate Appraisal Board of the Florida Department of
Professional Regulation.
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A~[)~l2S()~ & C,Al2l2'!l I~C.
SCOPE OF ASSIGNMENT / WORK
In keeping with the purpose of the appraisal and the appraisal process, the
appraisers have engaged in original research to provide a complete analysis for
the client. Data from analysis has been gathered from various sources, such as
the Palm Beach County Public Records, First American Real Estate Solutions,
CoStar Group, county and local planning & zoning departments, local realtors,
property owners, and other appraisal offices.
The product of our research and analysis is formulated within this report for
analysis of and direct comparison with the subject property being appraised.
Additionally, we have used original research performed in preparation of other
appraisals by this office, which is considered appropriate for the subject
property.
This appraisal is presented in a summary report.
PROPERTY RIGHTS APPRAISED
Fee simple estate is defined as absolute ownership unencumbered by any other
interest or estate, subject only to the limitations imposed by the governmental
powers of taxation, eminent domain, police power, and escheat.
Source: The Dictionary of Real Estate Appraisal, Fourth Edition, American Institute of Real
Estate Appraisers, 2002, Pg 113.
DEFINITION OF MARKET VALUE
The most probable price which a property should bring in a competitive and
open market under all conditions requisite to a fair sale, the buyer and seller
each acting prudently, knowledgeably, and assuming the price is not affected by
undue stimulus. Implicit in this definition is the consummation of a sale as of a
specified date and the passing of title from seller to buyer under conditions
whereby: buyer and seller are typically motivated; buyer and seller are well
informed or well advised, and acting in what they consider their best interest; a
reasonable time is allowed for exposure in the open market; Payment is made in
cash in U. S. dollars or in terms of financial arrangements comparable thereto;
and the price represents normal consideration for the property sold unaffected
by special or creative financing or sales concessions granted by anyone
associated with the sale.
Source: 12 C.F.R. Part 34.42 (g); 55 Federal Register 34696, August 24, 1990, as amended at 57
Federal Register 12202, April 9, 1992; 59 Federal Register 29499, June 7,1994.
19
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NATURAL, CULTURAL, RECREATIONAL,
HISTORICAL OR SCIENTIFIC SIGNIFICANCE
To the best of our knowledge the subject property does not possess any natural,
cultural, recreational, or scientific value. If this assumption is incorrect and the
subject property does in-fact exhibit any of these values the appraiser reserves
the right to revise this report in order to analyze these factors, which may result
in a revised estimate of value.
NEIGHBORHOOD DATA
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The subject property is located in a mixed use locale in central Boynton Beach
within the Ocean District Community Redevelopment Area. The western
portion of the locale is primarily composed of community facilities including the
police and main fire stations, city hall, civic center, library, the old High School,
a large Baptist Church, and a playground, Boynton Beach Boulevard is a major
highway lined with commercial uses and an interchange 1-95. Ocean Boulevard
has recently been upgraded and includes a few commercial uses, a house or two,
and several multi-family properties. The center of the area and to the south of
Ocean Avenue contains mostly single and multi-family properties. The eastern
edge has mixed uses with some light industrial in the north, commercial uses
and several vacant tracts in the center, and multi-family uses in the south,
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The community redevelopment plan basically calls for enhancement of existing
uses; civic in the west, commercial along Boynton Beach Boulevard, multi-
family in the center and single family in the south.
Originally, it appears that primarily commercial uses were intended between 3rd
Street and the CSX Railroad. This area from Ocean Avenue to north of
Boynton Beach Boulevard contains one house, three vacant tracts, with the
remainder of the land in commercial use. This area is now planned for mixed
use with multi-family projects that include commercial space on Boynton Beach
Boulevard and Ocean Avenue.
In general, the single and multi family housing in the area is dated but in
generally good condition. The commercial uses on Ocean Avenue and off of
Boynton Beach Boulevard are also dated and in need of renovation.
Revitalization of the subject neighborhood is evident from the renovations
along Boynton Beach Boulevard including noticeable renovations and new
construction of the civic facilities. The subject is across the street from the main
fire station and adjoins commercial properties to the north.
Property values dramatically increased over the past several years but the real
estate market became more stable during early 2006 with a trend of stable to
declining values within some markets later in the year. Revitalization of the
locale has been taking place and further redevelopment is eminent but as a
result of market conditions may be more long term,
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PROPERTY DATA
Owner of Record
Jeffrey and Elizabeth Shaffer.
Palm Beach County Property Control Numbers
08-43-45- 28-03-003-0112 and 08-43-45 - 28-03-003-0130
Assessed Value and Taxes
The subject property is currently assessed by the Palm Beach County Property
Appraisers office with a total value of $296,687, of which $94,346 is for the
improvements and 202,341 is for the land, indicating a 2006 real estate tax liability
of $6,664. The subject consists of two property cards and the tax liability on one
was paid on December 4, 2006 but the other has not been paid with $2,486
currently due.
Flood Zone
The subject property was been found to be located on the National Flood
Insurance Program Map, Community Panel Number 120196-0003-C dated
September 30, 1982, This map depicts that the subject lots are situated within an
area designated as Flood Zone "C".
Census Tract
The subject property is located within Census Tract 0061.00,
Utilities
The subject property has available all customary public utilities.
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Zoning / Land Use Plan
The subject property is located within an area of the City of Boynton Beach with
a R-3 (Multi-Family Residential) zoning and an HDR (High Density
Residential) land use plan designation. The Ocean District Community
Redevelopment Plan and planned revisions to the zoning and land use maps
have the subject slated for a Mixed Use Low 3 zoning and Mixed Use Low land
use plan designation.
Theoretically, the subject could be developed for residential use under current
regulations. However, in reality use of the subject would need to conform with
the pending zoning and land use changes.
The Mixed Use Low zoning and land use designations are primarily for
residential development with a commercial element when appropriate.
Concurrency
Concurrency would most likely not be a development issue for a small parcel
like the subject or, if assembled, the larger overall project would need
concurrency approvals based on its size and scope.
Sales History
The subject property was purchased by the current owners in March 2003 under
two deeds for a total of 165,000 (OR 14989/0063 and 0211). Just prior to the
sale, the property had been operated as a day care center but it is now used for
single family rental purposes. According to the owner, the property is for sale
with an asking price of $650,000, reduced from a previous asking price of
$900,000.
Site Analysis
The subject site is an 'L' shaped parcel surrounding a corner tract. It is an 'L'
shaped parcel composed of two rectangular lots; a 62.5 x 112 foot tract on
Northeast 1st Street and a 110 x 125+ foot tract on Northeast }'I Avenue. The
property contains a total of 20,750 square feet or 0.48 acres. The larger tract
backs to a platted alley with a platted road along the east side, however, neither
the alley nor road have been installed.
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The site is more or less level at or near road grade and appears to be composed
of typical loose south Florida sand. No easements were noted but there is an old
building slab, appears to have been a garage, centered along the east property
line of the adjoining corner parcel and the easterly subject tract.
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Improvement Analysis
The subject property is improved with a one-story, wood frame single family
home with crawl space foundation, composition shingle roof, double and single
hung windows which was built in 1932. The interior is of wood and drywall walls
and ceilings with hard wood floors. It has two bedrooms and two full baths plus
dinning room, living room and kitchen. The structure contains 1,326 square feet
and has a rear 90 square foot porch.
The building was found to be in below average condition. It has a new roof and
the interior is generally average but numerous spots of rotten wood were noted
on the exterior.
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HIGHEST AND BEST USE
"Highest and Best Use" may be defined as the reasonably probable and legal use
of vacant land or an improved property, which is physically possible,
appropriately supported, financially feasible, and that results in the highest
value. The four criteria the highest and best use must meet are legal
permissibility, physical possibility, financial feasibility, and maximum
profitability,
Source: The Dictionary of Real Estate Appraisal, Fourth Edition, 2002, Appraisal Institute, pg.
135.
The subject property is zoned for residential and/or mixed use. However, the
property has poor exposure for commercial use. It is situated in the Ocean
District Community Redevelopment Area with intentions of revitalizing the
locale, These planned use changes follow current market trends allowing
residential or mixed commercial/residential uses for urban redevelopment. The
subject location is better suited for this type of use with a commercial element
on or near Boynton Beach Boulevard and residential uses in the center of the
neighborhood. Parcel assemblages have become commonplace and have been
taking place within the immediate area. Supply of land suitable for mixed use
redevelopment south of Boynton Beach Boulevard or east of the CSX Railroad
is quickly diminishing. Demand has been strong but is abating with the softening
real estate market.
The highest and best use of the subject is for residential or commercial /
residential development or assemblage for a larger redevelopment project.
THE VALUATION PROCESS
Generally, the appraiser uses three approaches to value in estimating the
market value of a particular property. These approaches are the Cost Approach,
the Income Capitalization Approach, and the Sales Comparison Approach. In
this case, the only applicable approach is the Sales Comparison Approach. The
Cost and Income Capitalization Approaches are not applicable as the subject is
vacant land. The omission of this approach is not considered misleading to the
client or necessary for a creditable estimate of value,
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A~I)~I:?S{)~ & CAI:lI:\ I~C.
SALES COMPARISON APPROACH
A search of various County Official Records, local multiple listing service
records, discussions with local brokers and appraisers and a personal inspection
of the subject area produced several sales for comparison with the subject.
We researched numerous vacant land sales and listings in urban Boynton Beach
and have selected several as representative of the subject market.
The elements of comparison include date of sale, conditions of sale, location,
size, configuration, frontage, access, and exposure. The measure of comparison
among the comparable sales is the sale price per square foot, as this method is
easy to understand, reflects a correlation between sales, and is commonly used
by participants in this market segment.
We then reconciled the comparables' value indications to reach a value
indication for the subject.
The sales are summarized on the following pages, and the analysis follows.
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SALE NO, 1
Our File: 270058 - 13B & 15B
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OR Book 18286, Page 1182 Deed Dated March 14,2005
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Gran tor:
Boynton Auto Supply, Inc.
Grantee:
Boynton Shipwreck, Inc.
Legal:
Lot 2, and Lots 11 to 13, Block 2, Town of Boynton, Plat
Book 1, Page 23, Palm Beach County, Florida
Parcel No.'s:
08-43-45-28-03-002-0020 and 08-43-45-28-03-002-0080
Location:
East Boynton Beach Boulevard and Northeast 1st Avenue
at the west side of the CSX Railroad in downtown Boynton
Beach, Florida.
Zoning:
C-2 and C-3 - Commercial by the City of Boynton Beach
Land Use:
LRC - Local Retail Commercial by the City of Boynton
Beach
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A~()a=~S()~ & CAPJ?!l I~C.
Utilities:
Water and sewer
Site Size:
Two slightly irregular shaped parcels separated by an alley,
The East Boynton Beach Boulevard tract has about 50 feet
on the roadway and contains 6,000 square feet. The
Northeast 151 Avenue parcel contains 18,000 square feet.
Total area is 24,000 square feet or 0.55 acres.
Sales Price:
$650,000
Price/SF Land:
$27.08
Financing:
Cash to seller
Comments:
Sale verified to be arms-length with buyers attorney, Arthur D'Almeida, on
January 3, 2007. The deed represents only part of the transaction, Boynton
Auto Parts was selling their store and rear vacant land for $650,000 but needed
some quick cash. The rear parcel was recorded at $175,000 in March 2005 with
the reminder to close March 2007, The overall sale is part of an assemblage for
redevelopment. The old auto parts store is a dated property containing 2,484
square feet built in 1971. It has temporary been leased to a mattress company.
(gko)
4.~Uf:~S()/llllI & CAl?~~ [~C.
SALE NO.2
Our File 250589, 270051 - 15B
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O.R. Book 18342, Page 1646
Deed Dated March 18,2005
Grantor:
Jarrett Shapiro
Grantee:
Mariza Torraco
Legal:
Lot 19, Block 54-A, Lake Boynton Estates Plat 4-A, Plat
book 14, Page 69, Palm Beach County, Florida.
Parcel Number:
08-43-45-29-23-054-0190
Location:
North side of Northwest }'t Avenue just south of West
Boynton Beach Boulevard about 1;4 mile west of 1-95,
Boynton Beach, Florida.
Zoning:
C2 - Neighborhood Commercial by City of Boynton Beach
Land Use:
LRC - Local Retail Commercial by City of Boynton Beach
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Utilities:
All available to site.
Site Size:
Rectangular shaped site containing .1320 acres or 5,750
square feet.
Sale Price:
$193,000
Price Per SF:
$33.57
Financing:
$154,000 adjustable rate loan with Fremont Investors and
Loan
Comments:
Sale confirmed with Anne E. Wall of Southeastern Alliance Title Agency, in
September 2005, who verified the sale price and stated that the sale was an arm's
length transaction with no unusual circumstances involved, (ies , gko)
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SALE NO.3
Our File: 260762, 270051 - 15B
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OR Book 19047, Page 1383
Grantor:
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Deed Dated August 4,2005
Phoenix Real Estate Investment Group, Inc.
Grantee:
Maysoon Realty, Inc,
Legal:
Long legal in lots 12 through 16, Block 1, Lake Addition,
Plat Book 11, Page 71, Palm Beach County, Florida
Parcel No.'s:
08-43-45-21-32-001-0120 and 08-43-45-21-32-001-0160
Location:
The west side of Federal Highway, two blocks south of
Northeast 10th Avenue, Boynton Beach, Florida.
Zoning:
C-4 - Commercial General by the City of Boynton Beach
Land Use:
GC - General Commercial by the City of Boynton Beach
Utilities:
Water and sewer
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A.~U~I2S()~ 8.: CA.I2I2'!l I~C.
Site Size:
A rectangular parcel on Federal Highway, containing
approximately 26,105 square feet.
Sales Price:
$825,000
Price/SF Land:
$31.60
Financing:
$425,000 mortgage with Jardack Investment Corporation
Comments:
Sale verified to be arms-length with George Mobassaleh, managing member of
Maysoon Realty, Inc. on January 3, 2007. The property remains vacant with
plans for office building development. (ecn)
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,i.~()f'l!S()~ &: C4.[!~~ I~C.
SALE NO.4
Our File: 270058 - l3B & 15B
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OR Book 20159, Page 1946
Deed Dated April 6, 2006
Grantor:
James T. Baiano and Adriana Kovalovska
Grantee:
James S. Ploen Revocable Trust
Legal:
Lot 11, less the West 175 feet, Block b, Pence's Subdivision
No.1, Plat Book 1, Page 33, Palm Beach County, Florida
Parcel No.'s:
08-43-45- 28-07 -002-0111
Location:
Northwest corner of Southeast 5th Avenue and Southeast
4th Street one block west of South Federal Highway and
five blocks south of Ocean Avenue, Boynton Beach,
Florida,
Zoning:
C-3 -- Commercial, Community by the City of Boynton
Beach
Land Use:
Commercial by City of Boynton Beach
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Utilities:
Water and sewer
Site Size:
About 123 x 76 feet containing 9,375 square feet or 0.22
acres.
Sales Price:
$335,000
Price/SF Land:
$35.73
Financing:
Cash to seller
Comments:
Sale verified to be arms-length with one of the buyers, James Ploen, and Sarah
Douglas, an attorney with the sellers title insurance company, on February 1,
2007. This property was improved with two old homes built in 1930 and 1950. It
was purchased for redevelopment with the buyer already owning two adjoining
lots to the west. (gko)
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Current Listing
January 31,2007
Owner:
Jeffrey and Elizageth Shaffer
Listing Agent:
Federico Rochwerger with Coldwell Banker Commecial
Legal:
The North 1;2 of Lots 11 and 12, plus Lots 13 and 14, Block
3, Town of Boynton, Plat Book 1, Page 23, Palm Beach
County, Florida
Parcel No.'s:
08-43-45-28-03-003-0112 and 08-43-45-28-03-003-0130
Location:
Northeast quadrant of Northeast }'I Street and Northeast
}"I Avenue one-half block south of Boynton Beach
Boulevard and one block east of Seacrest Boulevard,
Boynton Beach, Florida.
Zoning:
R-3 - Multi-family Residential by the City of Boynton
Beach
Land Use:
Multi-family Residential by City of Boynton Beach
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~~[)~~S()~ & c~~v~ I~C.
Utilities:
Water and sewer
Site Size:
An 'L' shaped parcel with a 110 x 125 foot tract on
Northeast 1st Avenue and a 62.5 x 112 foot tract on
Northeast 1st Street containing a total of 20,750 square feet
or 0.48 acres.
Asking Price:
$650,000
Price/SF Land:
$31.33
Financing:
Seeking cash
Comments:
Listing data verified with the owner, Jeffrey Shaffer, and broker, Fedrico
Rochwerger, on February 26, 2007. This property consists of two connecting lots
forming an 'L' shaped parcel. The larger one on Northeast }"I Avenue is vacant.
The smaller one on Northeast 1 sl Street contains older wood frame home built
in 1932. The property is being marketed as vacant and suitable for
redevelopment. Mr. Shaffer stated he had turned down several offers but did
not disclose offer prices. He also stated that he had been seeking $900,000 but
had recently reduced the price to $650,000. This property last sold in March of
2003 for $165,000. (en, gko)
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LAND SALES SUMMARY CHART
OR Bk. Size Price Per
Sale (Sq. Ft.) Sq.Ft.
Date Page Location Price
1 18286 E. Boynton Beach and 24,000 $650,000 $27.08
Mar-05 1182 NE 1st Ave., Boynton
2 18342 800 Blk of NW 1st Ave. 5,750 $193,000 $33,57
Mar-OS 1646 Boynton Beach
3 19047 800 Blk of N Federal Hwy. 26,105 $825,000 $31.60
Aug-05 1383 Boynton Beach
4 20159 400 Blk of SE 5th Ave. 9,375 $335,000 $35.73
Apr-06 1946 Boynton Beach
Subject Current NE 1st Ave. & NE 1st St. 20,750 $650,000 $31.33
Property Listing Boynton Beach
m NW,4TH
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MARKET V ALUE ESTIMATE:
$ 625,000
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Summary and Conclusion
The sales are situated within close proximity to the subject property in central
Boynton Beach. The listing represents the current asking price for the subject
property,
The sales represent parcels with similar potential to the subject. One is a
commercial tract; another has commercial land on two sides with commercial
potential. Two were purchased for assemblage and redevelopment. One sale i.s
located just east of the subject and the listing is the subject property.
Property values have generally softened over the recent past. The data indicates
only a minor overall increase between mid 2005 and present for this data set.
The data indicates sale prices around $30 to 35 per square foot with the upper
end of the range indicated for the smaller parcels.
The subject property lacks exposure on a main thoroughfare, is irregular in
shape, and has a size at the larger end of the range. Additionally, the softening
2006 real estate market has continued into 2007 and market conditions do not
appear to be improving. Therefore, a value at the lower end of the range is
warranted.
Based on the forgoing it is concluded that the market reflects a value of $30.00
per square foot for the subject site, as of January 29, 2007, with the total land
value calculated as follows.
20,750 Square Feet @ $30.00 Per Square Foot =
Rounded to:
$ 622,500
38
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East Side-West Side-Seas'lde Renaissance
BOYNTON BEACH CRA
AGENDA ITEM STAFF REPORT
eRA BOARD MEETING OF: March 13,2007
AGENDA ITEM: IX. D.
I Consent Agenda
Old Business I X I
New Business I I
Public Hearing
Other
SUBJECT:
Launching of new CRA Website: www.boyntonbeachcra.com
SUMMARY: As part of the CRA's brand development and market positioning, AMBIT
Marketing worked with staff in creating a new web site to effectively promote the Agency's
development projects, financial assistance programs, public records and events. The new design targets
investors, developers, residents and business owners, and includes a link to the updated trolley site on
the home page.
~ ..
The redesign allows staff control over daily maintenance of the site, to ensure information on the
following pages remains current and fresh:
· Home Page
· CRA Overview
· Projects
· Plans and Studies
· Programs and Grants
· Meetings
· Contact Us
An important feature of the new site includes an interactive eRA Projects Map, which viewers can
navigate to locate and learn about CRA funded projects, private development projects and City land
marks.
FISCAL IMP ACT: Cost budgeted in 2006/2007 from General Fund Budget
RECOMMENDATIONS: Approve use of new CRA website.
'--1tJwtp- WS~
Margee Adelsperger "
Marketing and Communications Director
.
/ ...
T:\AGENDAS. CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by Meeting\FY 2006-2007 Board
Meetingsl07 03 13 CRA Board Meeting - March\New CRA Website,doc
.....
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