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Agenda 05-11-10 Revised CRA Board Meeting Tuesday, May 11, 2010 at 6:30 PM City Commission Chambers 100 E. Boynton Beach Blvd Boynton Beach, FL 33435 REVISED I. Call to Order - Chairman Jose Rodriguez II. Pledge to the Flag and Invocation III. Roll Call IV. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda i. Board Attorney Request for Closed Door Session to Discuss Litigation (see X, A & B below) B. Adoption of Agenda V. Informational Items by Board Members & CRA Attorney VI. Announcements & Awards: st A. Pure Justice Band Ocean Avenue Concert – May 21 th B. The Blind Side Movies on the Ave. – June 4 VII. Consent Agenda: A. Approval of Minutes - CRA Board Meeting April 13, 2010 B. Approval of Period Ended April 30, 2010 Financial Report C. Approval of the Mayor’s Boynton Harbor Marina Slip Tenant Meeting D. Approval of Commercial Façade Grant to Janashpa Ent. d/b/a McDonald’s Restaurant E. Approval of Commercial Rent Subsidy Grant to Tsunami Subs & Wraps F. Approval of Commercial Interior Build-out Grant to Doubleplay Media, Inc. G. Approval of Commercial Rent Subsidy Grant to Doubleplay Media, Inc. VIII.Pulled Consent Agenda Items: IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Old Business: A. CLOSED ATTORNEY/CLIENT SESSION - Pursuant to Section 286.011(8), Florida Statutes in the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy, Inc., Robert Winder and Bank Atlantic, Case No. 502009CA001119XXXXMB B. Discussion of Action Regarding the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy, Inc., Robert Winder and Bank Atlantic, Case No. 502009CA001119XXXXMB C. Legal Discussion of Splashdown Diver’s Lease D. Approval of Business Signage Improvement Grant to South Florida Mastercraft – TABLED April 13, 2010 E. Consideration of Entering into a Land Swap Agreement with the City F. Consideration of Options for Magnuson House – TABLED April 13, 2010 G. Consideration of CRA Office Options XI. Executive Director’s Report st A. Small Business Development Program Survey and Testimonials from Students (1 Quarter Classes) XII. New Business: A. Presentation of Audited Financial Statements for FY 2008-2009 – TABLED April 13, 2010 th B. Consideration of Purchase of Vacant Lot at NW 6 Avenue for $20,000 C. Consideration of an RFP for Four Vacant Lots Within HOB D. Consideration of Options on Mortgage Foreclosure-HAP Recipient Shonae Trotman XIII.Future Agenda Items A. Request for Proposal for Multifamily Project on Martin Luther King B. Land Lease between City and CRA for Ruth Jones Cottage C. Land Use and Zoning Ruth Jones Cottage D. Children’s Schoolhouse Amphitheater E. Marina Signage Entryway Feature F. Revised Marina Dockage Lease Agreement XIV. Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY ,/ MATTER CONSIDERED AT THIS MEETING HESHE WILL NEED A RECORD OF THE PROCEEDINGS ,,/ AND FOR SUCH PURPOSE HESHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE , PROCEEDING IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH .(..286.0105) THE APPEAL IS TO BE BASED FS THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ,,. ENJOY THE BENEFITS OF A SERVICE PROGRAM OR ACTIVITY CONDUCTED BY THE CITY PLEASE (561)737-3256-M CONTACT THE CRA AT AT LEAST TWENTYFOUR HOURS PRIOR TO THE EETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR . REQUEST 1~<tY~T2~ eRA East Side-West S',de-Seaside Rena"lssance CRA Board Meeting Tuesday, May 11,2010 at 6:30 PM City Commission Chambers 100 E. Boynton Beach Blvd Boynton Beach, FL 33435 REVISED I. Call to Order - Chairman Jose Rodriguez II. Pledge to the Flag and Invocation III. Roll Call IV. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda i. Board Attorney Request for Closed Door Session to Discuss Litigation (see X, A & B below) B. Adoption of Agenda V. Informational Items by Board Members & CRA Attorney VI. Announcements & Awards: A. Ocean Avenue Concert - May 21 st Pure Justice Band B. Movies on the Ave. - June 4th The Blind Side VII. Consent Agenda: A. Approval of Minutes - CRA Board Meeting April 13, 2010 B. Approval of Period Ended April 30, 2010 Financial Report C. Approval of the Mayor's Boynton Harbor Marina Slip Tenant Meeting D. Approval of Commercial Fayade Grant to Janashpa Ent. d/b/a McDonald's Restaurant E. Approval of Commercial Rent Subsidy Grant to Tsunami Subs & Wraps F. Approval of Commercial Interior Build-out Grant to Doubleplay Media, Inc. G. Approval of Commercial Rent Subsidy Grant to Doubleplay Media, Inc. VIII. Pulled Consent Agenda Items: IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Old Business: A. CLOSED ATTORNEY/CLIENT SESSION - Pursuant to Section 286.011(8). Florida Statutes in the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy. Inc., Robert Winder and Bank Atlantic. Case No. 502009C AOO 11 19XXXXMB B. Discussion of Action Regarding the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy, lnc.. Robert Winder and Bank Atlantic, Case No. 502009C AOO I 1 19XXXXMB C. Legal Discussion of Splashdown Diver's Lease D. Approval of Business Signage Improvement Grant to South Florida Mastercraft - TABLED April 13, 2010 E. Consideration of Entering into a Land Swap Agreement with the City F. Consideration of Options for Magnuson House - TABLED April 13, 2010 G. Consideration of CRA Office Options XI. Executive Director's Report A. Small Business Development Program Survey and Testimonials from Students (1 st Quarter Classes) XII. New Business: A. Presentation of Audited Financial Statements for FY 2008-2009 - TABLED April 13, 201 0 B. Consideration of Purchase of Vacant Lot at NW 6th Avenue for $20,000 C. Consideration of an RFP for Four Vacant Lots Within HOB D. Consideration of Options on Mortgage Foreclosure-HAP Recipient Shonae Trotman XIII. Future Agenda Items A. Request for Proposal for Multifamily Project on Martin Luther King B. Land Lease between City and CRA for Ruth Jones Cottage C. Land Use and Zoning Ruth Jones Cottage D. Children's Schoolhouse Amphitheater E. Marina Signage Entryway Feature F. Revised Marina Dockage Lease Agreement XIV. Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBA TIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CITY. PLEASE CONTACT THE CRA AT (561) 737-3256 AT LEAST TWENTY-FOUR HOURS PRIOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ~If;::;;. If" ~~~<tY~T2~ eRA iIi East Side-West Side-Seas'lde Rena'lssance CRA Board Meeting Tuesday, May 11,2010 at 6:30 PM City Commission Chambers 100 E. Boynton Beach Blvd Boynton Beach, FL 33435 I. Call to Order - Chairman Jose Rodriguez 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. Informational Items by Board Members VI. Announcements & Awards: A. Ocean Avenue Concert - May 21 st Pure Justice Band B. Movies on the Ave. - June 4th The Blind Side VII. Consent Agenda: A. Approval of Minutes - CRA Board Meeting April 13, 2010 B. Approval of Period Ended April 30, 2010 Financial Report C. Approval of the Mayor's Boynton Harbor Marina Slip Tenant Meeting D. Approval of Commercial Fayade Grant to Janashpa Ent. d/b/a McDonald's Restaurant E. Approval of Commercial Rent Subsidy Grant to Tsunami Subs & Wraps F. Approval of Commercial Interior Build-out Grant to Doubleplay Media, Inc. G. Approval of Commercial Rent Subsid)' (rrant to Doubleplay Media. inc. VIII. Pulled Consent Agenda Items: IX. Public Comments: (Note: comments are limited to 3 minutes in duration) X. Old Business: A. Legal Discussion of Splashdown Diver's Lease B. Approval of Business Signage Improvement Grant to South Florida Mastercraft -- TABLED April 13.2010 C. Consideration of Entering into a Land Swap Agreement with the City D. Consideration of Options for Magnuson House - TABLED April 13.2010 E. Consideration of CRA Office Options XI. Executive Director's Report A. Small Business Development Program Survey and Testimonials from Students ( 1 st Quarter Classes) XII. New Business: A. Presentation of Audited Financial Statements for FY 2008-2009 - TABLED April 13.2010 B. Consideration of Purchase of Vacant Lot at NW 6th A venue for $20,000 C. Consideration of an RFP for Four Vacant Lots Within HOB D. Consideration of Options on Mortgage Foreclosure-HAP Recipient Shonae Trotman XIII. Future Agenda Items A. Request for Proposal for Multifamily Project on Martin Luther King B. Land Lease between City and CRA for Ruth Jones Cottage C. Land Use and Zoning Ruth Jones Cottage D. Children's Schoolhouse Amphitheater E. Marina Signage Entryway Feature F. Revised Marina Dockage Lease Agreement XIV. Adjournment NOTICE IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE CRA BOARD WITH RESPECT TO ANY MATTER CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0105) THE CRA SHALL FURNISH APPROPRlATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED BY THE CITY. PLEASE CONTACT THE CRA AT (561) 737-3256 AT LEAST TWENTY-FOUR HOURS PRlOR TO THE MEETING PROGRAM OR ACTIVITY IN ORDER FOR THE CRA TO REASONABLY ACCOMMODATE YOUR REQUEST. ;a..m"'"""';e;.;t..........;. ".17..... __~m' _~""......,_';;"'."""w_.... - ~ ""'~" ~.~ ,. ~"".~~~'l'i<;f: ~;-:;:J;_, ., '. - .m;;r~"'''~'''''''''''''''''~''~ ~'''.T''~''IJii;,~:~...'''-.--..............._~l'f't-...,~~~\~~,;cW_~~_.1;;,..iM.-;......,..J:J,,~, VI. ANNOUNCEMENTS & AWARDS: A. Ocean Avenue Concert May 21, 2010 Pure Justice Band ., ~ V;2;. ..~> r ~~ctY~T2~1cRA Ii East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I I Consent Agenda I Old Business New Business Public Hearing I X I Other SUBJECT: Ocean Avenue Concert -c Friday, May 21,2010. SUMMARY: · On Friday, May 21, 2010, the Boynton Beach CRA, the City of Boynton Beach and The Palm Beach Post and Rick Lococo will present an Ocean Avenue Concert, . Dance to the R & B music of the Pure Justice Band.. · This FREE concert will take place from 6:00 PM to 9:00 PM · Located at the Amphitheatre next to the Schoolhouse Children's Museum on Ocean Avenue just east of Seacrest. . Food and Drink vendors are available. . Please bring your folding chairs. . Parking onsite. . No pets please. FISCAL IMP ACT: Budgeted in line item 02-58500-480. RECOMMENDATIONS: None 0.- ~ L.L. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\May 2010 Ocean Avenue Concert. doc ,~~'i:" =... i~ t . ~qY~T2~lc~ l~/\ fEast Side...West Side.....Seaside Rena"'ssanc€ . LIVING FLA. com I i 1, ~ I I \ '" 1 :J Friday May 21,2010 6:00 - 9:00 PM Pure Justice Band - Rhythm & Blues ') " ..."" -. ...._.'.'.-.t.. ....'..,.. .... ." ,.. . ::I, . _ ,.. ,~ '0" .II ",. _ ""..jO" -- .~_.I' ~;i~:' ,~'~Sif: .,"'~~~~_:~i~;.;~.tf.jl~ :.~~:~;,. '1~~\-f': ..;~<,~'c:-~~ .~ ~~fl~8~RA LEast Slde...West S'lde-Seas".de Renaissance . ') The Palm Beach Post PalmBeachPOIt (Om LIVING FLA.com , ! ~ ~ I I : .1 ,'1 J I . .1 .tl, . I t ~ :"j T I ~ 4 ',I ; ~ 1 ~I .!I ':i :~ j 'I ~, I ~ I "1 II "I J ~~ .' ,i '~ ![ I I rl' Iii ( ; I' 'r I;; ,'. 'I~! ~- .11 ~ I; " '1 ;l;';~-i-~~! .~"=. . , 01._.' ~ --!._:ll.~,:':,~1~~ ~~..,.;, ..' .- \' . ......h...'_L. ..=.M:....._~~~~.~l..-..:::"~::I_~L:C. ~ , :0. "'II. ._ _'!: ...l,;,JI_....,.J,~........~~~~U1....._.:;._~._"J. .' _t. .\ .. " . ,~ :,; ..:.~ .!M,'l:.. . ._ 4". ~:. :_ u ~i~12~L,_.~ .1 ... ~ , .'1 ,I .,..~~~ ~ '~'IIM ..'. ~1.~..,..'1 '..~~.: , .~ I ; ,. - ..elk -" Uk, J' I. '."\. ,i,',.....r. -,. ~ ...., . . .k.,. ~'~r-. . _, -~ _' - _"' .....'.L __..:.0. ..,.....:JIo.~..:,;,..... ....\..__ --oi., ~~ ~ ,II _~.~ '_....1. ,~..._:.._......._Ii.. J, __ _'"L~ . ') mOVI.t;s ON T.u.t; .nV.!;. BI,h1Q'n~"J~h .~.~ftI~f~'.. '-' '. ~t :-. -,' 'J >:~'.; :f;~:_' . -, '.~',. .. . ',', .. '. - C", ,'_,.;, . -:,.;:,:.)~;.'~.,..j..".-.,~~;.~~~,'l~~}~:t~i,-~}:>'~~ Friday May 7, 2010 8:00 -10:00 PM U~ Rated PG Friday June 4, 2010 8:00 - 10:00 PM The Blind Side, Rated PG-13 OctanAvenue AmpNlfbea1re On East Ocean Ave., between Sea crest Blvd. and NE 1 st St. Ample free parking available on site. Bring your folding chairs and dancing shoes, but not your pets. Food and drink vendors available on site. fGf.ln~.tlonGiIl: S.6~ -7-41~i. iJi':Ylslt 'WWWlt,t.l~;n>>*'~.lat:q.:t.em .~. -. .. :< .J."li....~.....~,~ -"<'C_'. ~'...-..~':O - .~ ~ P"R~8t:RA L.. East Side-West Side-Seaside Renaolssance . The Palm Beach Post PalmBeachPOI\.com LIVING FLA. com ------ - - - --- ".... eRA BOARD MEETING OF: May 11,2010 I I Consent Agenda I Old Business New Business Public Hearing I X I Other SUBJECT: Movies on the Ave. - Friday, June 4, 2010. SUMMARY: . On Friday, JUDe 4, 2010, the Boynton Beach CRA, the City of Boynton Beach and The Palm Beach Post will present a Movies on the Ave film screening, . The award winning film The Blind Side, PG-13, will be featured, . This FREE event will take place from 7:00 PM to 9:00 PM . Located at the Amphitheatre next to the Schoolhouse Children's Museum on Ocean Avenue just east of Seacrest. r · Food and Drink vendors are available. . Bring your folding chairs or blankets. . Parking available onsite. . No pets please. FISCAL IMP ACT: Budgeted in line item 02-58500-480. None . a Bright Executive Director r T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Fonns by Meeting\FY 2009 - 2010 Board Meetings\05- 11-10 Meeting\June 2010 Movies on the Ave..doc ~,_!~">#""~~Ji,~~':l;- ""~~,!;-~-li'~';j~""Ur~-~"T'--"~' ~"''''''/~_'''''''~-'''I_ilWA' -.~, '~"""'''''''ltr",,,,,,,,,,,,,,,-,:~",,,,,;''1it'l '-~~il,tf~;">"~""'r:9"'~tft~,:,:~-",,",,,,,,,,",,,,,,,,,,,V""-"L",,'li''''''''''' 'rlil' n~'ir'.;;r;Ci~';,M"'tj""~.c"...,:.",,,,-,_..,;;,,,C4'._"'.""" VII. CONSENT AGENDA: A. Approval of Minutes - CRA Board Meeting April 13, 2010 MINUTES OF THE COMMUNITY REDEVELOPMENT AGENCY BOARD MEETING HELD ON TUESDAY, APRIL 13, 2010, AT 6:30 P.M. IN CITY COMMISSION CH~MBERS, BOYNTON BEACH, FLORIDA PRESENT: Jose Rodriguez, Chair Woodrow Hay, Vice Chair Steven Holzman WilHam Orlove Marlene Ross Lisa Bright, Executive Director Jim Cherof, Board Attorney I. Call to Order The meeting was called to order at 6:31 p.m. II. Pledge ~ the Flag and Invocation Chair Rodriguez offered the invocation followed by the Pledge of Allegiance to the Flag. Chair Rodriguez noted to conduct the meetings in an efficient manner, Robert's Rules of Order would be followed. Public comments would be Invited prior to a matter being finalized, and citizens would be provided with ample speaking time. III. Roll Call The Recording Secretary called the roll. IV. Agenda Approval: A. Additions, Deletions, Corrections to the Agenda Chair RodrIguez noted this Item would include pulled consent agenda items and Information items. . VI., Consent Agenda, Items A. and D. were pulled for discussion by Lisa Bright, Executive Director. . VI., Consent Agenda, Item C. was pulled for discussion by Chair Rodriguez. Board Attorney Request for Closed-Door Session to Discuss Litigation (See XL, C&D below): City Attorney Cherof announced that pursuant to XI. New Business, Items C. 1 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida AprU 13, 2010 and D., the Board would recess into a closed-door session to discuss litigation and settlement strategies for a pending litigation Initiated by the CRA against the Delray- Boynton Academy. The session would take place in the City Manager's conference room and would last 20 or 30 minutes. The attendees in the closed-door session would be the members of the CRA Board, the Executive Director, Attorney Cherof and a court reporter who would record the session and prepare minutes. The minutes would be available once the matter had concluded. Upon the conclusion of the closed-door session, the public meeting would reconvene, the remaining items would be addressed and the meeting would properly adjourn. B. Adoption of Agenda Motion Vice Mayor Hay moved to approve the agenda as amended. Ms. Ross seconded the motion that passed unanimously. V. Announcements &. Awards Kathy Biscuiti, Special Events Director, announced the following events: A. Ocean Avenue Concert - Cricklewood The Ocean Avenue Concert Series would continue on April 16, 2010, at the Ocean Avenue Amphitheater. Cricklewoocf, a local favorite, would perform from 6:00 p.m. through 9:00 p.m. Food and beverages would be available for purchase. Attendees should bring chairs and blankets, and food and beverages would be available for purchase. No pets would be permitted. B. Movies on the Ave. - May Movie - Up The movie Up, winner of the Academy and Golden Globe Awards, would be presented May 7, 2010 at the Ocean Avenue Amphitheater beginning at 7:45 p.m. Attendees should bring chairs and blankets, and food and beverages would be available for purchase. No pets would be permitted. C. Palm Beach International Film Festival- Chicago The eRA would partner with the Palm Beach International Film Festival on Sunday, April 25, 2010 to present an outdoor screening of Chicago, at the Ocean Avenue Amphitheater at 7:45 p.m. The film had received a PG-13 rating. Attendees should 2 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 bring chairs and blankets, and food and beverages would be available for purchase. No pets would be permitted. Ms. Biscuiti extended an offer to provide Messrs. Grlove and Holzman, the new Board members, with a tour of the concert and event venues, including the Holiday Parade and Fourth of July celebration. VI. Consent Agenda A. Approval of Minutes - CRA Board Meeting - March 15, 2010 This item was pulled for discussion by Ms. Bright. B. Approval of Period Ended March 31, 2010 - Financial Report C. Approval of Supporting the Boynton Bach All-Star Cheerleaders This item was pulled for discussion by Chair Rodriguez. D. Approval of Business Signage Improvement Grant to South Florida Mastercraft This item was pulled for discussion by Ms. Bright. E. Approval of Funding up to $20,000 from the Residential Improvement Program to Dorothy Eblin F. Approval of Funding up to $20,000 from the ReSidential Improvement Program to Watesha M. Aime and Joanne Jean Noel G. Approval of Funding up to $20,000 from the Residential Improvement Program to Homero and Filomena Resendez H. Approval of Funding up to $20,000 from the Residential Improvement Program to Lessie Sherman 1. Approval of Funding up to $20,000 from the Residential Improvement Program to Shari Tellman J. Approval of Funding up to $20,000 from the Residential Improvement Program to Jermain & Willie Fashaw 3 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 K. Approval of Funding up to $20,000 from the Residential Improvement Program to Valencia Spells-Anderson L. Approval of Funding up to $20,000 from the Residential Improvement Program to Charlene Edwards M. Approval of Funding up to $20,000 from the Residential Improvement Program to Kendra Rahming VII. Pulled Consent Agenda Items: A. Approval of Minutes - CRA Board Meeting - March 15, 2010 Ms. Bright indicated that on page 18 of the minutes a discussion had ensued with regard to presentation requests at CRA events. The motion read as follows: "Mr. Rodriguez moved to approve the recommendation with the clarification on the political non-profits." The motion was seconded by Ms. Ross. While the motion failed 2-3, the minutes incorrectly indicated it had passed 3-2. Additionally, Mr. Weiland was not included with the dissenting voters. Chair Rodriquez had supported the recommendation as the intent was to attract people to the downtown area and staff's request would have negated the intent. Motion Vice Chair Hay moved to approve as modified. Ms. Ross seconded the motion that passed unanimously. C. Approval of Supporting the Boynton Beach All-Star Cheerleaders This item was pulled by Chair Rodriguez. Ms. Bright indicated the request had been given to her pursuant to the CRA's Procurement Policy, and she brought the request forward for the Board's consideration. Chair Rodriguez advised the Mayor's Challenge- Commit 28 fit Walkwas slated for May 8, 2010, and it was intended the Cheerleaders be invited to cheer on the walkers as they made their way through the downtown area. He suggested a motion be made to grant the funding while requesting the support of the Cheerleaders during the walk. It was Ms. Bright's understanding that the Cheerleaders had already indicated their willingness to assist in the Mayor's Challenge, and this had been verified by Ms. Biscuit;. 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Motion Mr. Holzman moved to go forward with the addition that the Cheerleaders help with the Mayor's Walk and cheer on all the walkers. Mr. Grlove seconded the motion that passed unanimously. D. Approval of Business Signage Improvement Grant to South Florida Mastercraft This item was pulled by Ms. Bright. Mike Simon, Development Director, explained the item related to the approval of a Business Signage Improvement Grant application for JR Watersports, Inc., doing business as South Florida Mastercraft, for the signage on the property located at 725 N. Federal Highway. South Florida Mastercraft had taken over the building and opened a new business, taking advantage of the CRA's Commercial Fac;ade Improvement Grant Program. The grant provided matching funds of up to $1,500 for the installation of signage for new or expanding businesses. The applicant had met all the qualifications. However, under the terms of the grant guidelines, payment for and approval of the signage was required prior to installation. The applicant had the signage installed on April 8th. If the signage had not been installed on that date, a two-week delay would have resulted relating to the availability of the bucket truck and the City's permitting process. The delay would have adversely affected the grant application. The grant opportunity had only recently been made available and it had been difficult for the applicant to comply with the criteria. As Mr. Simon felt timeframe issues would continue to surface, he suggested the Board modify the program. As another option, the Board could agree to a waiver and approve the grant. He noted, however, the Board had shied away from waivers in the past, opting instead to address program deficiencies by establishing new guidelines. Mr. Simon inquired whether the Board would prefer to deny the application and have staff present revised program guidelines for review at the next meeting. Chair Rodriguez pointed out the applicant had already paid for the signage, and he suggested the matter be tabled and that program revisions be brought before the Board at the next meeting. Vice Chair Hay supported tabling the item and bringing it back for further review. Mr. Holzman offered an alternative option to approve the grant with a waiver and place the item on the agenda for the next meeting. 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Ms. Bright commented several people had difficulty complying with the criteria of the program. She offered to provide a comprehensive list of the individuals, as Mastercraft was not the only applicant caught in the crossfire. Mr. Simon believed revisions would result in a more efficiently-run program. Chair Rodriguez suggested the Board be given a "heads-up" prior to a meeting if a recommendation proposed by staff was not on the agenda. Ms. Bright apologized, noting she learned of the issue after the agenda had been prepared and felt obligated to pull the item. Motion Vice Chair Hay moved to table and bring back a revised signage policy. Mr. Holzman seconded the motion that passed unanimously. Staff would provide a comprehensive list and recommendations for amending the program at the next meeting. Attorney Cherof recommended a separate motion be made approving the consent agenda items that had not been pulled. Motion Ms. Ross moved to approve the consent agenda items that were not pulled. Vice Mayor Hay seconded the motion that passed unanimously. VIII. Information Only: A. Explanation of Small Business program Scoring Matrix IX. Public Comments: (Note: comments are limited to three minutes in duration) Herb Suss, 1711 Woodfern, expressed concern for the residents of the Presetve development. It was determined the Presetve, which was funded by the CRA in the amount of $2.5 million, had problems with defective Chinese drywall, and he hoped the issue could be resolved. He believed the federal government was recommending removal of the Chinese drywall and inquired whether the City or the CRA would help finance the removal. Ms. Bright responded she had previously addressed the concerns of Mr. Suss at a City Commission meeting. She noted the CRA had not invested $2.5 million in the development, but had provided assistance of approximately $1 million in home subsidy 6 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 programs. Staff had worked with five homeowners over the past year who alleged they had Chinese drywall but had never provided any verification. She believed Lenny Wolfe, of Cornerstone Developers, was working directly with the Federal Government regarding its Chinese drywall program. Ms. Bright made It known the CRA bore no responsibility and she did not believe the City was responsible either since the Preserve was not a City-funded project. Pursuant to the request of Chair Rodriguez, Attorney Cherof would provide a position on the matter that could be posted on the City's website. Victor Norfus, 261 N. Palm Drive, requested events be held on MLK Boulevard similar to the Heritage Celebration, but on a smaller scale. He also addressed the Issue of overt littering and glass broken by Individuals in the community and thought some type of surveillance or CRA police presence would be helpful. Mary Ann Monnin, 11545 Old Ocean Boulevard, requested a waiver and approval for a fa~de grant for a build-out for a structure located at 611 NE 3rd Street. She had requested financial assistance from the CRA in 2006 and 2007. The request was predicated upon financial hardships created by the additional costs needed for the build-out. Chair Rodriguez closed the public comments. He remarked that It was difficult for the CRA Board, or any board, to make immediate decisions when someone addressed a particular issue at a meeting. He asked that citizens having an issue not wait until the meeting to raise the issue, but to contact him or any of the Board members for guidance prior to a meeting. If Mr. Suss had contacted Chair Rodriguez or any of the Board members, he would have had a response to the Chinese drywall matter. With regard to Ms. Monnin's request, more information would be needed before any action could be taken. X. Old Business: A. Small Business Development Program Update-PowerPoint Presentation Ms. Bright provided an up-to-date report regarding the Small Business Development Program, a goal of the Heart of Boynton plan adopted in 2001. The Program was intended to encourage local job development and was an outcome of the Board's direction In March 2009 requesting staff meet with the community to determine how the $1.6 million pledged In the Heart of Boynton should be applied. The Small Business Incubator and Technical Assistance Programs were created as a result of those meetings. 7 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 In May 2009, the Community Committee provided input to CRA staff which was brought forward and approved by the Board. A Request for Proposals (RFP) was issued in search of a consultant for the Small Business Development Program, and the TED Center was the selected entity. The Small Business Development orientation was held on December 10, 2009. Classes instructed by Annette Gray began in January 2010 and 50 students had enrolled. The first quarter was completed on March 26th and 24 students graduated. The second class was currently underway. Ms. Gray and some of the students were asked to come forward. Annette Gray, representing the TED Center, commented on the success of the Program. Growth, nurturing and retention of small businesses were crucial to the nation's economy. The classes were difficult and provided direction on concept to implementation not only for small businesses, but also for existing businesses that might be struggling because of the economy. Allan Hendricks, 122 SE 4th Avenue, went through the program and was in the process of establishing an internet business in the City. He anticipated the business would grow into a bricks and mortar company over time. He expressed gratitude to the CRA and believed the return on investment would be gratifying. It was his hope the CRA would continue its support of the program. Michelle Pate, 225 Citrus Trail, commented she learned about market analysis, how to write a business plan and prepare financials during the nine-week course. She described the course as "fantastic" and believed the CRA would be pleased with the outcome if the course continued. Chair Rodriguez had attended the graduation ceremony. He articulated the event was energetic and the students were excited about the potential for starting a business in Boynton Beach. It was intended the program would result in the establishment of businesses within the City and spur economic development. Mr. Holzman inquired whether questionnaires were distributed, asking what the students expected from the class and whether their expectations were met. He Inquired whether anyone had contacted the students who had not graduated and what they did not like about the class. Ms. Gray advised a survey had been sent out within a week of graduation and the results would be provided to CRA staff. She attributed the attrition of the class to life factors. The students were expecting a class where the instructors did most of the talking. This class was interactive and technical in nature. Students felt they could juggle the classes with other events on in their lives. Feedback indicated that many of the students who did not complete the course would return for a 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13,2010 subsequent session. The major challenge faced by students was funding. Qualified graduates would be able to secure funding to establish a sustainable business. The types of businesses to be established by the graduates included graphic design, marketing, construction, manufacturing, architectural landscaping and carpet cleaning. Ms. Ross had also attended the graduation ceremony and enjoyed meeting the graduates. Some were from District IV and planned to start their businesses In the CRA district or in the City. B. Florida Fishing Academy Update- PowerPolnt Presentation Ms. Bright noted the Program was operated through the Youth Violence Prevention Program originally targeting individuals 12 to 19 years of age. Captain Brochu presented the Ilrogram concept to the CRA Community Committee in October 2009, and the item was brought to the Board in February 2010. The program taught life skills and teen leadership. The Program directly impacted the youth in the CRA district and currently targeted youngsters 6 to 11 years of age. The older individuals had embraced and mentored the younger individuals In a hobby that was both healthy and constructive. The CRA is committed to the waterfront and the Marina and the fishing program was an added element. Chair Rodriguez noted his support for the Program which had helped the youngsters and kept them away from the streets. He wished the Program was available when he was younger. C. Reconsideration of Administration Fee for HUD Grant - Children's Schoolhouse Museum Ms. Bright advised the Item was presented to the Board on February 9, 2010 and at that time, CRA staff had negotiated a 5% fee for the administration of the U.S. Department of Housing and Urban Development (HUD) grant of $294,000 for repairs to the Schoolhouse Children's Museum. The CRA Board, however, had voted for a 10% administrative fee. The City has requested the CRA Board reconsider the action taken and recommended a 1% administrative fee. Chair Rodriguez recommended the administrative fee be forgiven and that going forward, the City and the CRA work together for a common goal. He pointed out staff would still be paid their salaries while working on the grant. Vice Chair Hay agreed cooperation should exist between the CRA and the City. However, administrative costs were standard and necessary to offset the costs of the administrative work to be performed. 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Mr. Holzman pointed out the $294,000 grant funds were to be used to purchase windows for the Schoolhouse Children's Museum. It was not intended for either the City or the CRA to profit In any way. Any administrative fees imposed would defy the purpose of the grant. Ms. Ross noted she had an extensive background with non-profit organizations and appreciated the significance of grants, their oversight and administration. As such, it would be difficult for her to agree to dismiss the fee. Ms. Bright added the grant was inadvertently assigned to the CRA and additional work relating to the grant was not Included In the CRA's work program. CRA staff had already expended 13 to 14 hours on this matter. It would be necessary for staff to hire and utilize prof~ssional services if the administrative responsibilities impacted staff's workload. In any event, CRA staff would accept the decision of the Board. Chair Rodriguez pointed out the City had recently expended numerous hours on a Neighborhood Stabilization Program (NSP) grant which would benefit the CRA's Homebuyer's Assistance Program (HAP). There would be Instances where grants handled by the CRA would benefit the City and grants handled by the City would benefit the CRA. Vice Chair Hay noted the activities of the agency were driven by the CRA budget process and there was an assumption additional grants would be sought. He inquired whether a line item for grant writing was provided in the CRA budget. Ms. Harris responded a line item was provided in the budget under Professional Services for an outside consultant, although the monies had not yet been expended for that purpose. Lori LaVerriere, Assistant City Manager, indicated the City was desirous of maximizing the grant funds to have the windows of varying sizes installed at the Schoolhouse Children's Museum, and the completion of the project would likely exceed the amount budgeted. The grant was inadvertently assigned to the City through a typographical error at the federal level. City staff had approached the U.S. Department of Housing and Urban Development (HUD) requesting the error be corrected and was advised it was not possible. City staff then approached Ms. Bright explaining it would be necessary for the eRA to be the signatory and recipient of the grant in order for the project to be possible. City staff would prepare all the administrative reports required and turn the reports over to CRA staff for review and submittal. City staff would not Impose an administrative fee as the work would be performed by the City's Grants Administrator as part of her responsibilities. 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Chair Rodriguez opined the line item budgeted for an outside consultant should have been used in this Instance so that the time allocated to CRA staff would not have been necessary. Ms. Harris explained while the line Item was to assist with grant writing, it could be used for grant compliance If that were the Board's direction. She maintained that although City staff would be doing most of the work and turning the reports over to CRA staff, CRA staff could not merely sign off on the reports. A thorough investigation was required to ensure compliance with strict audit requirements for federal dollars awarded, whether $300,000 or $3 million. CRA staff had reviewed the most recent audits for the Cities of Delray Beach and Lake Worth and found deficiencies and material weaknesses. Pursuant to the Office of Management and Budget, a pass. through entity was responsible for monitoring sub-recipient activities. Ms. Harris noted $15,000 had been included In the budget line Item for grant writing which was reflected on the CRA's audit and not the City's. While the single-audit requirement had not yet been met, this would be examined by the CRA's auditors. Ms. LaVerriere asked that the size of the project and the work required be kept in perspective. She did not believe any more than 50 hours would be expended by CRA staff in reviewing and submitting the invoices and reports. Chair Rodriguez noted he would bring the item back to the City Commission. However, he requested the Board not lose sight of the intent of the grant which was to help the Schoolhouse Children's Museum with the installation of the windows and that both agencies should work together to accomplish the project. After considering the comments made at this meeting, Vice Chair Hay advised he would support a 1% fee. Motion Vice Chair Hay moved that the Board go with a 1% administrative fee. Mr. Orlove seconded the motion for discussion purposes. Chair Rodriguez Invited public comments. Herb Suss, 1711 Woodfem, believed the public wanted the Schoolhouse Children's Museum to have the windows and were not interested in percentages to be charged as the funds would be going from "one pocket to another." He also inquired where the additional monies needed to complete the project would come from. As the matter would be presented to the City Commission, he urged the establishment of a seven- member civilian CRA Board. 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Brian Edwards, 629 NE 9th Ave., served on the Board of the Schoolhouse Children's Museum and was desirous of having the windows installed. The return on investment for the City would be huge. Grant writers were always paid for their work and in this instance, the funds would end up in the coffers of either the City or the CRA. No one else having come forward, public comments were closed. Chair Rodriguez addressed the comments made by Mr, Suss relating to the civilian CRA Board. The approval of the City Commission would still be required regardless of who served on the Board or how many members had been appointed. Motion Mr. Orlove offered a substitute motion for a 1% fee and moving forward, there be no fees between the City, the CRA or any other governmental bodies within the City. Attorney Cherof noted the motion was out of order because it attempted to address a separate policy Issue. The only item before the Board was the fee with respect to the Schoolhouse Children's Museum. Mr. Orlove withdrew his substitute motion. The administrative fee policy issue could be explored at a later date if the Board so desired. He believed the CRA was due some kind of compensation for the work to be performed by staff and supported a 1 % fee. Ms. Ross cautioned that no one should lose sight of the work involved in grant writing, its oversight and administration which were significant and time consuming. The motion passed unanimously. D. Consideration of Third Amendment to lLA between City of Boynton Beach and CRA for the SE 4th Street Project Vivian Brooks, Assistant Director, noted the item was brought before the Board as the underground utility and resurfacing project on SE 4th Street was nearing completion. In discussions with City and CRA staff, It was noted the CRA had been carrying $973,000 for the project on its fund balance as the bids were a great deal lower than originally budgeted by the City. The CRA had been sharing in the project by approximately 25% and would like to release a portion of the funds, approximately $500,000 that were not needed, in order to fund downtown redevelopment projects. 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Motion Vice Chair Hay moved to approve. Mr. Orlove seconded the motion that passed unanimously. E. Presentation of Ocean Breeze East Proposals and selection of proposer to begin negotiations on a Purchase Agreement Ms. Brooks noted the eRA had issued a Notice to Dispose of Real Property on the Ocean Breeze East, a four-acre parcel. The structure was formerly a Section 8 rental apartment building damaged in the last series of hurricanes. The CRA had demolished the building which was uninhabitable and purchased the land for redevelopment. However, funding sources had been problematic. The first presenter would be Auburn Development. The Board could reject the proposals, request additional information and have the proposers come back, listen to the presentations and then table the matter, or select a proposer and begin negotiations. 1. Auburn Development-PowerPoint Presentation Cito Berguiristain, Auburn Development, 777 East Atlantic Avenue, Delray Beach, promised Auburn would install all hurricane impact windows. Mr. Bergulristaln discussed the relevance of the Low-Income Housing Credit (UHCT) program as It was anticipated the Ocean Breeze site would be a 9% UHCT financed affordable apartment community. Auburn's experience Included the following: Auburn was one of the first tax-credit developers In Florida. Its prindpal and founder was a certified public accountant, a tax attorney, a developer and the first to receive tax credits for development in Palm Beach County. Auburn had been developing properties for more than 20 years and had obtained more than $200 million in subsidies. Auburn had developed more than 4,118 tax-credlt apartments in Florida, managed 868 market-rate rentals, and constructed and sold more than 333 subsidized single-family homes, 588 condominiums, and 66 workforce townhouses. 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Auburn developed life-care retirement communities, nursing homes, retail malls and tax-credit affordable housing and was one of the most experienced affordable housing developers in Florida. Auburn had constructed approximately 21 developments in the State of Florida. Some of the local developments included: .. Boynton Bay, a 240-unlt senior affordable rental housing built 17 years ago. This was one of the first senior developments built under the tax-credit program and was rehabilitated in 2008. .. Groves of Delray, offered 158 senior affordable rental apartments, and a major rehabilitation was anticipated. .. Walden Pond, with 321 units, was built in Miami with grant funds received as a result of Hurricane Andrew. . Auburn Trace, a Delray Beach development with 256 rental apartments, was among the first tax-credit housing developments built in Florida. Boynton Bay, the Groves of Delray and Walden Pond were recognized by the National Association of Home Builders as the finest senior affordable developments in the country. It had always been Auburn's intent to ensure that as a development matured, it would not contribute to additional blight but rather to the quality of affordable housing. Auburn had rehabilitated all of its assets after 15 years, giving the developments a brand new appearance. Mr. Berguiristain emphasized that in addition to securing financing to complete the construction of the 21 developments, Auburn had layered the financing with various revenue sources, including those for affordable housing. Auburn was experienced in working with compliance, reporting and completing the projects timely and on budget. Auburn's executive team had served on the Land Trust of Palm Beach, Palm Beach County's Housing Leadership Council, Palm Beach County Commission on Affordable Housing, the State Coalition of Developers and various non-profit organizations. Auburn currently provided health and nutrition classes, fostered grandparent services to the residents of Boynton Bay and coordinated transportation services with the Mae Volen Senior Center. Auburn hired contractors and subcontractors that resided in the community, who made every effort to hire minority and women business enterprises. Auburn worked with the community and its leaders in developing designs to improve 14 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 site plans and maintained good relationships with all police departments with whom they worked. Auburn ensured that its developments served as catalysts for further revitalization. Questions for Auburn Development and Auburn's responses were as follows: Q: Can you address green features? A: All new developments were Florida Green Building Certified. Auburn will be relocating 230 mature trees to the Delray Beach project. Since the units were affordablel the Energy Star appliances lowered the cost of energy per unit. Q: You proposed 24 three-bedroom units. There were many instances where adult children live with their senior parents. Could adult children live In a two or three-bedroom unit with their senior parents? A: Pursuant to Fair Housing rules, 80% of the units are required to be occupied by people aged 65 and older and 20% could be 35 years and older If the development was operated and marketed as a senior community. Auburn was open to both senior and family housing developments. While the demand for family housing would be higher and easier to lease, Auburn would consider the community's desire. Q: What Is your rationale for the 84 units? A: Mr. Berguiristain noted 84 was the number that fit on the map. However, 87.8 units could be developed, which was allowed by the City. Q: With 84 units, what would be the density breakdown in terms of three- bedroom units? A: That would not change. Auburn proposed 84 units in the site plan for 24 three-bedroom units. The State of Florida would restrict the unit structure of a development If the developer applied for senior-specific financing. Boynton Bay and the Groves of Delray were financed as a family developmentl but operated as a senior development under the Fair Housing Program. This allowed Auburn to include three-bedroom units. Both Eastwind and Auburn concluded the property wouid be a nice senior site. 15 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Q: Has Auburn thought of the various financing options available? Did you agree with the options presented by Eastwind? A: It is important to have a developer sign now. Applications for the 9% program would not be available until November, and It was not known at this time what the County would do with any leftover New Issue Bond Program (NIBP) dollars. A number of laws were currently pending in the Congress and if enacted, an opportunity would be available for funding. A Comprehensive Plan Amendment, if required by the State, could take six months to complete. The proposed development would probably qualify as a Small-class Amendment, which could be completed sooner. This might require clarification by CRA staff. Q: What is the cost of the project? A: $13,735.124 Q: Can you give us an idea of what the rents would be? A: Rental amounts were set by the State of Florida and ranged from $750 to a maximum of $1,040 for a three-bedroom unit. Auburn was currently receiving these amounts at Boynton Bay and Defray. 2. Eastwind Development-PowerPoint Presentation Jack Weir, President and CEO of Eastwind Development, announced he was accompanied by Robby Block, Development Manager for Eastwind who would serve as the Project Manager for Ocean Breeze East. Mr. Weir noted Eastwind would install standard-sized storm-impact windows. Mr. Weir had been a developer for 16 years and developed more than 6,000 units. He founded Eastwind at the end of 2007 and teamed up with Rob Hoskins, founder of NuRock Development based in the Atlanta area. NuRock was the 13th largest affordable housing developer in the country. NuRock's management company won awards for its "Breakout" program for family-type projects. Residents moving into the affordable housing communities were required to sign a "Code of Conduct." In return, NuRock provided larger clubhouses with an after-school program that focused on a secure environment for children. NuRock had developed more than 4,000 units and 2S projects primarily in Georgia and Texas. Eastwind and NuRock together served as the Florida arm of the organization. 16 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Eastwind is currently developing workforce housing in Jupiter and Abacoa, and a joint venture with a non-profit organization for 120 units that would utilize the New Issue Bond Program (NIBP). In the NIBP, interest rates on the bonds were below market and locked In for the year. Mr. Weir is a member of the Housing Leadership Council of Palm Beach County and past Director of the State Coalition of Affordable Housing. He had turned down a seat on the Affordable Housing Commission of Palm Beach County because he believed this would create a conflict. Eastwind proposed to build a development to complement the Heart of Boynton Redevelopment Plan including the upgrading and beautification of Seacrest Boulevard. The plan would consist of an 86-unit, senior affordable rental community with a mixture of one and two:-bedroom units. The site plan would feature a community center and three residential buildings, a pool area and recreational facility, and each floor would have an elevator. The use of green building materials and equipment would be emphasized, and NuRock would serve as the managing agent. Mr. Block advised the clubhouse would feature a leasing center, a ballroom, free health, wellness and mentoring classes, a technology room, business and fitness centers, billiard parlor, game room and a resort-style pool with a sundeck and cabana. All kitchens would be equipped with Energy Star-rated appliances and all bedroom and living areas would feature ceiling fans. Each unit would be cable and internet ready and would include window blinds, a patio and balcony, double-pane windows and water-conserving faucets. Wall Insulations would be a minimum of R-7 and the attic insulation a minimum of R-30. Thorough background checks would be made for all tenants and leases would be strictly enforced. Mr. Weir indicated the New Issue Bond Program (NIBP) was not available locally. Tax exempt bonds were readily available and would provide 4% housing credits. However, this would create a considerable gap in the financing as the credits would be half the value of the 9% tax credits. Even If the cost of the land was nominal, gap financing would still be needed. Two potential finandng sources Included the Florida Housing Finance Corporation for tax-exempt bonds and an NSPl (Neighborhood Stabilization Program) grant. While greater equity would be realized with golo financing, the 9% tax credits would not be offered until 2011. Additionally, Palm Beach County had been subject to a low Set- Aside Unit Limitation allocation. 17 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Mr. Weir felt the Board should consider the tax-exempt bond option. From a rent standpoint, a bond scenario would provide 4% tax credits for units at or below 80% of the Area Median Income (AMI). These housing credits could be obtained without going through a lengthy competitive process, but as noted earlier, were worth less than half the value of the 9% tax credits. Mr. Weir remarked NuRock and Eastwind had great financial strength, a strong track record, extensive experience with various programs and a strong commitment to the industry. The questions for Eastwind and Eastwind's responses were as follows: Q: What does Eastwind foresee as the total cost of the project, induding all supsidies and tax credits? A: Under the bond scenario, the cost would be $12.3 million and under the tax-credit scenario, $11.7 million. Bonds had higher transaction costs. Q: Can you reiterate your involvement with other projects in Florida? A: "Mystic Wood," the last project developed with Creative Choicer was located in western Riviera Beach. The Jupiter project was in the development stage. Mr. Weir Is currently developing a workforce housing project. Q: Given financing constraints, what do you see as a timellne on the project to secure funding if the negotiations were to go forward? A: The bond process would be speedier but would depend upon gap financing. The variables would include if and when the State offered financing or the County decided to utilize NSP1 (Neighborhood Stabilization Program) funds for rental buildings. Neither was assured. Construction could be completed in 10 to 12 months and leasing could commence just prior to the end of construction. Q: In either scenario, how much lead time would you or any other developer need to apply for the grants or tax credits. A: The lead time would probably be 30 days. Q: Where is your home base? 18 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 A: West Palm Beach. Q: You stated the project would consist of 86 units. Is that because you are not providing any three-bedroom units? A: The rationale was to develop a senior housing community on 4.3 acres with a maximum density of 87 units. From a quality-of-life standpoint, amenities would be nicer on a slightly larger project. Q: Are you proposing one and two-bedroom units? A: Yes, because the development would be for seniors. A courtyard feature would be provided for recreation. Onsite storage for some of the buildings was also proposed. Based on Eastwind's market analysis, many times, particularly when seniors are moving from single-family houses, they want readily available access to their belongings. This was not a major component of the project because of space constraints. Q: Would it be beneficial to mix seniors and famitles? A: It would depend upon the program. The 9% tax-credit program would require 80% to be occupied by seniors or families, but that is not to say you could not have seniors. Eastwind's market experience indicated that it was not beneficial to have seniors and teenagers together at the same recreational facilities. Q: The demographics indicated that the area to be developed was populated by approximately 2,800 people over the age of 65 and almost 8,600 people over the age of 21 and could be comprised of families with children. Would seniors want to move to a faciUty of this nature or choose to remain where they are? A: Eastwind's analysis indicated the best use for this particular site would be senior housing because of space constraints. However, there was a need for family housing in Boynton Beach, and Eastwind was hoping to explore other sites in the community. When an area such as Seacrest Boulevard was being revitalized, housing was significant. Eastwind was attempting to create a critical mass with more density to bolster retail estabHshments in the corridor. 19 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Q: Are their properties developed by Eastwind that you are still managing? A: All of the newer properties developed are still being managed by Eastwind. Q: Of the current properties you have, which are the oldest and how long have you managed these properties? A: The oldest NuRock properties were built approximately 15 years ago and Creative Choice properties were also in the is-year range. Eastwind's properties were newer and most recently included the Tampa, Jacksonville and Orlando markets. Chair Rodriquez inquired whether the Board was required to decide at this meeting the type of community to be developed or would a recommendation be made by staff or the developer. Attorney Cherof replied the decision would not have to be made at this meeting. Ms. Bright indicated staff would defer to the developer selected by the Board with the anticipation that tax credits for elderly or multi-family would be available. It was agreed the Board would select a developer this evening and negotiate the type of housing at a later date. Mr. Holzman felt both presenters possessed a good understanding of the project. As both had articulated, financing was a major issue regardless of the developer selected and would dictate what the project would eventually look like. Chair Rodriguez stressed flexibility was crucial. He was very impressed with the security and amenities at Boynton Bay, Auburn's history in Boynton Beach and Delray Beach and Auburn's rehabilitation and retention of its properties. Three-bedroom units were important as extended families often lived together. Vice Chair Hay noted he had visited Boynton Bay, felt it was a top-notch operation and would like to see something similar in District n. While he agreed both developers were qualified, he would favor the home-based Auburn Development which had been in business for 20 years. While the Board had previously selected Auburn for another project, the economic mix was not favorable at that time. While both presentations were informative, Ms. Ross favored Auburn Development at this point. She was also pleased with Auburn's local extensive history and awards received . 20 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 WhHe impressed with Mr. Weir's presentation, Chair Rodriguez felt one of the drawbacks was that Eastwind had only been established three years ago, and most of its projects were developed outside of the area. While Eastwind offered a mentoring program and other amenities, Chair Rodriguez felt a local, established company would provide the type of project sought by the Board for the community. Motion Vice Chair Hay moved that the Board select the Auburn Development Company to implement the Heart of Boynton vision. Mr. Orlove seconded the motion. Chair Rodriguez invited public comments. Brian Edwards, 629 NE 9th Avenue, was pleased with Auburn's presentation, its concerns for the health and wellbeing of its residents and that Auburn would work with the City on security issues. He hoped the project would move forward and that it would be determined at the outset whether developers had been engaged by lobbyists. Mark Karageorge, 240A Main Boulevard, expressed his support for Auburn. He was impressed by the stability of the staff at Boynton Bay, and its compassion for their residents. Notwithstanding Eastwind's expertise in multi-family and affordable housing, Auburn's track record was more substantial locally. Auburn was innovative and well- versed in the tax credit process. Chair Rodriguez thanked Eastwind's presenters and hoped they would remain engaged with the City for future projects. The motion passed unanimously. F. Splashdown Divers, Inc. Commercial Lease Renewal - Tabled March 15, 2010 Chair Rodriguez indicated four of the tenant's requests had been agreed to by staff and/or Attorney Cherof. As such, he requested the Board focus on Items 3 and 14 and the Right of First Refusal. There was no objection to the request. Mr. Simon noted the item was brought before the Board to review over the tenant's suggested changes in the terms of the lease agreement. Mr. Simon met with Ms. Simmons, owner of Splashdown Divers, and she was aware of the items that would not be supported by staff. 21 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Item 3. Denial of the tenant's request for a rent reduction for providing informational services to the visitors. The Board agreed with staffs denial. Item 14. Denial of tenant's request to provide an alternative rental relocation acceptable to tenant in the event the lease is terminated. Mr. Simon could not recommend acceptance of the language added by the tenant. If the Board wished to move forward with the project in the near future and terminate her lease, a buyout of the lease could be offered or a percentage of her rent could be applied to an alternative location. Chair Rodriguef: suggested language be added such that if the lease was not renewed and the tenant was in good standing, the CRA could offer an alternative rental location. However, the CRA would not be bound by the tenant's acceptance of the location. If the tenant was evicted or terminated with cause and the lease was not renewed, no alternative location would be offered. The Board and Attorney Cherof concurred. Right of First Refusal. Staff recommended denial of tenant's request that the CRA provide a right of first refusal. This language was contained in previous leases and related speCifically to the renovation of the building. Mr. Simon believed the language was added to ensure the tenant could return if she vacated the premises during the renovation. The right of first refusal language was redundant as upon the tenant's acceptance of the renewal, she would be the first person to be approached. Attorney Cherof advised that he had reviewed and was in agreement with all of staff's recommendations. The Board concurred. Motion Mr. Holzman moved to approve all staff recommendations on the lease agreement. Ms. Ross seconded the motion. Chair Rodriguez invited publiC comments. Lynn Simmons, of Splashdown Divers, 700 Casa Lorna Boulevard, accepted the Board's decision. While she understood the CRA planned to install a welcome center near the fuel dock, she contended people did not enter the Marina at that location but 22 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 rather at the front entrance. She requested consideration be given to her because visitors to the Marina made it a practice to knock on her door for information. Chair Rodriguez agreed Ms. Simmons had a valid point and believed the continual interruption by visitors impacted her business. As such, he requested staff come back to the Board in the near future with recommendations that would best serve Ms. Simmons, the community and visitors to the Marina. The motion passed unanimously. G. Downtown Master Plan Implementation Strategies and Funding Options- PowerPoint Presentation me Board recessed at 9:28 p.m. and reconvened at 9:34 p.m. Ms. Brooks provided a brief history of the Downtown Master Plan (DMP). The process began in 2007 and was completed in March 2008. The DMP was adopted in January 2009 and amended to cover policing and infrastructure costs. Goals and objectives induded the creation of public parking and gateways, redevelopment of the Marina, green building, historic preservation, public art, public events and activities, marketing and promotion, affordable housing, economic development, job creation and community policing. With regard to public parking, the CRA purchased half a block at 1st Street and 1st Avenue to provide parking for the Old High School. In addition to the 126 public parking spaces owned by the CRA in the Marina Village Condominium project, the CRA would have 100 public parking spaces in the Promenade Condominiums. The CRA designed the entryway feature for the Marina at the east end of the downtown area. Wayfinding signs were purchased for civic functions held downtown. The CRA purchased 24 Marina slips and the dive shop building to preserve the marine economy in Boynton Beach. A structure north of Two Georges Restaurant was purchased to create public access to the waterfront. A Master Plan was created at the Marina to enhance public access to the water and new piers, pilings and docks would soon be completed. The sum of $2 mIHion had been received from Palm Beach County for the preservation activity. A green incentive program, which included brownfield designations, had been drafted. Staff was working with the UU (Urban Land Institute) to refine the program so that it could be used in other cities and areas of the country. 23 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010. Although a historic preservation ordinance had not yet been created, a list of eligible properties had been maintained. Two properties set forth on the list, the Jones Cottage and the Magnuson House, were purchased by the CRA. In order to support historic preservation, the CRA had purchased a parking area at the Old High School for future uses. The Butterfly Mandela was purchased for Sara Sims Park and public art had been added to the Seacrest Streetscape project that would be paid for by the federal government. Public art gallery space was being designed in the Magnuson House and the CRA paid for the Dumpster Art Program in the CRA district. The regularly-scheduled concerts and movies were relocated from the beach to Ocean Avenue and five annual events were added without any increase in budget or staff. The Palm Beach International Film Festival was brought to the City and CRA staff coordinated the Altavox event with the City's Arts Commission. A joint event was staged with the Chamber of Commerce for downtown merchants and sponsorship dollars were raised to support events. The CRA's annual State-reqUired report was recognized by the International Downtown Association. Google Map was launched for area businesses and the CRA's website was revised. Social media included Podcasts, Facebook and Twitter. The trolley program was promoted and a $13,000 advertising contract had been secured. The downtown development sites were marketed at the International Conference last year and the FYI newsletter was distributed throughout the City. The Homebuyer's Assistance Program (HAP) had been funded and an RPF (Request for Proposals) had been issued for Ocean Breeze. Staff had coordinated with non-profits and private sectors for the development of 14 single-family homes. The CRA was the recipient of the President's Award from the Florida Redevelopment Association for its urban infill single-family housing program. Three new economic development programs were developed and the Commercial Fa~de Grant Program had been in operation for six years. The CRA created the brown field designation, Small Business Development Program and a database for all CRA businesses. The CRA Police had been in place for three years, resulting in a significant reduction in prostitution on Federal Highway and crimes across all categories. The Master Plan area stretched from Ocean Avenue to the C-16 Canal and recognized the Heart of Boynton (HOB) as a neighborhood to the downtown. Ocean Avenue was 24 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 designated as the cultural corridor and included the Library, Schoolhouse Children's Museum, Old High School and anticipated private art galleries. Staff had identified funding sources for the Marina entry feature, Amphitheater, Jones Cottage relocation and Magnuson House renovation and these projects could be completed in one or two years. A use would be determined for the Old High School at a later date. The Seacrest Streetscape project would begin in June. Negotiations would commence with Auburn Development for the Ocean Breeze East project and a small business incubator was under consideration at MLK and Seacrest Boulevards. The proposed entry feature at the Marina would be large in scale with a signage element appro}(tmately 30 feet high. The feature would be landscaped and softly lit at night. A park-like setting would be created, and a publiC art sculpture would be featured. Staff recommended the information/welcome area be located outside the dive shop area. The current stage at the Amphitheater to the east of the Schoolhouse Children's Museum would be replaced with an enlarged covered and lit stage. Chairs would slide under the stage for storage. The stage itself would measure approximately 965 square feet and would accommodate the concerts and movies currently held on Ocean Avenue. The Jones Cottage was built with Dade County Pine, measured 1,000 square feet and featured a coquina fireplace and chimney. The Cottage would be renovated to Code and would provide restrooms for the handicapped. It was staffs intention to relocate the structure to Ocean Avenue for use as a restaurant or retail space. A 450 square-foot public art gallery was proposed for the front of the Magnuson House which would be managed by the Public Art Administrator. Lighting and speakers would be installed on the porch to accommodate local musicians. The space wouJd be available for publiC receptions and local artists and a public art sculpture would be installed in the front yard. The structure currently measured approximately 1,800 square feet, but would increase to 3,200 square feet with the suggested improvements. There had been no significant private interest in renovating the space for office use unless an elevator was installed for commercial value. Chair Rodriguez suggested consideration be given to a use that would most favorably impact Ocean Avenue, whether a CRA office space, small gallery or other use. The estimated budgets for the projects were as follows: 25 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April1J, 2010 . Marina entry signage feature $200,000 225,000 870,000 +. Amphitheater + Magnuson House . Jones Cottage relocation and renovation 200,000 A contingency of $145,000 was anticipated with the cost of the projects totaling $1,640,000. Financing sources were as follows: . $150,000 left over from the Marina project. + $500,000 from the 4th Street project. . $100,000 reallocated from the Residential Improvement Program (RIP). . $490,000 rolled over from the fiscal year 2008/2009 audit. . $400,000 from the mortgage on the Magnuson House. The longer-term projects were comprised of the fol/owing: . The Old High School. . Small business incubator on MLK Boulevard. (Staff was engaged in negotiations with non-profit organizations regarding the construction of incubator bays.) . The remainder of the Marina (funding would be determined). . City Hall/Pollee Station. (Locations and funding sources would be determined. While these facIlIties were located in the CRA district, public facilities could not be funded with CRA dollars.) Although the eRA maintained a strong financial position, its bonding ability could not be exercised until 2011 or 2012. Discussion ensued on the projects as follows: 26 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 .. Marina Entry feature. Mr. Holzman felt the Marina was in need of a "facelift" and an entry feature would add a great deal from both a residential and commercial standpoint. He noted the owners of facilities at Marina Village reacted positively to the entry feature. Mr. Orlove hoped the Arts Commission would be involved in the utilization of the space for public art. Ms. Bright explained this project focused on the signage feature while capturing the existing art as part of the process. Staff would continue Its ongoing dialogue with the Public Art Administrator. Chair Rodriguez was concerned the waterway would be obscured by the foliage and suggested this be explored. Upon consensus, the Board agreed to the entry feature. .. Amphitheater. Ms. Brooks advised staff had requested REG Architects install a cover for the Amphitheater which added to the cost of the project. The Amphitheater would accommodate 500 people. Chairs would not be purchased in the current phase and additional monies were factored in for the design and architectural costs. Rick Gonzales, REG Architects, advised the storage space would amount to approximately 1,000 square feet under the footprint of the building area and a handicap lift and steps would be installed to the right of the structure. The canopy would provide shade and protection from inclement weather, would meet wind load requirements and would enjoy a life cycle of 20 years. On consensus, the Board agreed to the Amphitheater. .. Jones Cottage Relocation/Renovation. It was Ms. Brooks' understanding that interest had been expressed by the community for a restaurant at the location. With the current configuration, three of the 23 parking spaces would be lost. However, parking was available in the vicinity and consideration was being given to opening up and resurfacing a nearby unused City parking lot. On consensus, the Board agreed to the Jones Cottage project. .. Magnuson House. (Art gallery/offices.) 27 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Mr. Holzman expressed his preference that the building be retrofitted for a restaurant which he felt would add to the value of the neighborhood. If the downtown were viable, use of the space for an office would make sense. Mr. Orlove believed office space did have value because it would reflect the CRA's interest in developing Ocean Avenue and provide a home for the CRA. He did not want the street to become one entity and envisioned it as more of a casual, relaxed mixed use. The site was just one spot on a street that had other opportunities. Vice Chair Hay concurred with Mr. Orlove and believed locating the CRA at the site would convey a sense of commitment. Ms. Ross supported the project from the onset, and now that the art gallery concept had expanded, she appreciated the project even more. Chair Rodriguez did not believe relocating the eRA to the property reflected a commitment to develop the downtown or validated the purpose of the CRA. Del ray Beach officials had taken a strong position on what it allowed on Atlantic Avenue which was crucial to economic development. As such, Delray's CRA was not located on Atlantic Avenue. Chair Rodriguez had contacted developers and attorneys, inquiring where they felt the CRA office should be located in Boynton Beach. They believed the space should not be used for an office, but rather for a business or restaurant that would provide economic development opportunities. They suggested the CRA be located in the area but on a side street. There were a number of other properties close to Ocean Avenue that were less expensive which could be purchased for the CRA offices. Chair Rodriguez offered these suggestions to the Board. Mr. Holzman pointed out the Delray Beach CRA had been moved to its current location after the downtown had regenerated itself. The Boynton Beach eRA continually erred by utilizing prime real estate for non-economic drivers. Ms. Ross did not feel Boynton Beach should emulate Delray Beach. Atlantic Avenue was directly accessible from 1-95 while Ocean Avenue was not. She believed it could be benefldal to the Delray Beach CRA to have Its office on Atlantic Avenue. Alternatives for the CRA offices were discussed. Ms. Bright explained it would be poSSible to rent office space on a month-to-month basis at the new medical office building ($5,000 per month) or at the Bed and Bath Plaza on Federal Highway ($3,000 per month). Build-outs at a cost of $25,000 would be required for either location. The CRA's current lease would be expiring at the end of May, and it was hoped the building 28 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 would be sold. Concerns were raised in that the CRA would be forced to relocate twice if it were to rent elsewhere and then move into the refurbished space. Following a lengthy discussion, Chair Rodriguez proposed the Board move fOlWard with the other three projects and table the Magnuson House item. The additional time would provide an opportunity for CRA staff to explore other options and for the Board to review the financials relating to the Magnuson House. There were no financing issues with the other properties. Vice Chair Hay and Mr. Holzman agreed the item should be tabled in order for other options to be explored. Mr. Orlove did not object to tabling the matter. Ms. Ross felt that the community meetings and feedback received provided clarity and believed the Board was ready to make a decision. She added it was important the project comply with the provisions of the Downtown Master Plan (DMP) calling for 20,000 square feet to be used for art. Ms. Bright emphasized that she had always attempted to move the Magnuson House project fOlWard. During the 2009/2010 budget workshops, she presented program options for 211 East Ocean (the Magnuson House) to: (1) landbank; (2) renovate/add; (3) lease as residential; (4) sell and (5) create a public sculpture garden. The Board members did not want the Magnuson House project to languish or be delayed. Ms. Bright explained It would be necessary to issue an RFP (Request for Proposals) to determine the community's interest in the use for the property. Chair Rodriguez articulated he would formulate a plan with the Executive Director and present it to the Board at the next meeting. Chair Rodriguez requested a motion for acceptance of the three remaining projects. Motion Ms. Ross moved to approve Items #1, #2 and #3 on the Downtown Master Plan strategies and funding options. Mr. Holzman seconded the motion. Chair Rodriguez invited public comments. Steve Skaggs, 728 Casa Lorna Boulevard, was in favor of the entry feature proposed for the Marina. As he had received numerous inquiries about other dive boats, he felt there was a tremendous need for signage. Additionally, signage would be helpful at the 29 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Federal Highway and Boynton Beach Boulevard entrance and would alert visitors as to the businesses in the area. In response to Mr. Skaggs' suggestion, Ms. Brooks advised staff was exploring an entry feature on the property owned by the CRA and had been in contact with MSCW, Inc. with respect thereto. She distributed a concept which was similar to what was on Ocean Avenue, but without the large architectural feature. Brian Edwards, 629 NE 9th Ave., expressed disappointment that the Board had not moved forward with the gallery. He felt the project would help jumpstart Ocean Avenue while redeveloping the historic site. It was crucial the four projects be developed as fast as possible and the Banana Boat, Two Georges Restaurant, Hurricane Alley and the Chamber of Commerce should be contacted. Barbara Ready, 329 SW 13th Avenue, Chair of the Arts Commission, commented the Arts Commission would be pleased to participate in any of the conceptual drawings and provide input into the entryway feature for the Marina, design concept for the Amphitheater and wayfmding signage. As a member of the Historic Preservation Ad Hoc Committee, she commented the Committee members were close to finalizing a Historic Preservation Ordinance for the City Commission's approval. Once the Ordinance was adopted and a Historic Preservation Program was in place, Boynton Beach could qualify to become a Certified Local Government (CLG) and be eligible for funding. The funding could allay the costs of renovating the Magnuson House and the Old High School. She suggested the Magnuson House be utilized for CRA offices as an interim solution. In response to the comments offered, Chair Rodriguez advised the Old High School would be addressed. As to the Magnuson House, the best use of the property would be explored, and he stressed the Board had made no decision with respect to staff's suggestion relating to the issuance of an RFP (Request for Proposal). Ms. Ross believed the speakers offered excellent points, and she hoped the expressions would resonate with the Board next month. The motion passed unanimously. XI. New Business: A. Presentation of Audited Financial Statements for FY2008-2009 30 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 As the presentation would be lengthy, Chair Rodriguez requested the item be tabled. Motion Mr. Holzman moved to table the audit results. Vice Chair Hay seconded the motion that passed unanimously. B. Consideration of Approval of Subordination Agreement for Loan Modification for HAP Recipient, Andrae Robinson Attorney Cherof noted the item pertained to a Homebuyer's Assistance Program (HAP) loan to Mr. Robinson. The item was brought before the Board to determine whether the Board was prepared to allow the CRA loan to be subordinated to a refinancing on the property. .Attorney Cherof recommended the subordination of the CRA loan on this property be supported. This would allow the property owner to remain on the property long enough to have the loan excused. Motion Mr. Orlove moved to support. Ms. Ross seconded the motion that passed unanimously. C. CLOSED AITORNEY/CUENT SESSION - Pursuant to SectIon 286.011(8), Florida Statutes in the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy, Inc., Robert Winder and Bank Atlantic, Case No. 502009CA001119XXXX - TABLED February 9 and March 15, 2010. 771e public meeting recessed at 11:12 p.m. to meet in a Closed Door Session. 771e public meeting reconvened at 11:29 p.m. D. Discussion of Action regarding the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy, Inc., Robert Winder and Bank Atlantic, Case No. S02009CA001119XXXXMB - TABLED February 9 and March 15, 2010 Attorney Cherof recommended a motion be entertained to remove Item D. from the agenda, as it would not be necessary to take any action at this meeting. 31 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Motion Ms. Ross moved to remove "Discussion of Action regarding the Case of Boynton Beach Community Redevelopment Agency v. Delray-Boynton Academy, Inc." Mr. Grlove seconded the motion that passed unanimously. XII. Future Agenda Items A. Discussion of Implementing the Easy Agenda B. Discussion of Goals and Objectives for Period ended September 30, 2010 Ms. Bright noted she had been asked by Chair Rodriguez to present to the Board a list of objectivesjdentified in the budget, tying them to specific deliverables and to recommend changes with respect to the Executive Director's evaluation. She requested motions be made by the Board providing such direction. With regard to the first request, Chair Rodriguez explained he had asked that the Executive Director prepare a list of goals that would be accomplished this year within the CRA. The information would be presented to the community and to the Chamber of Commerce for his State of the CRA address. Secondly, Chair Rodriguez believed the Executive Director's evaluations were elementary and task oriented and the Board would have little knowledge of whether she "met with staff regularly" or "conducted good staff meetings" and other similar items. The Board did not manage her operation and would not have the insight necessary to evaluate these Items. Accordingly, Chair Rodriguez asked that the Executive Director review the evaluation form and remove the irrelevant items. Ms. Ross had no issue with the evaluation. She had been a Board member for more than two years and appreciated consistency. Perhaps the questions that were not directly relevant could be removed. There were many questions which were not elementary and were critical in explaining the accomplishments of Ms. Bright and her staff. Vice Chair Hay had no problems with the evaluation, but wanted to ensure the City was being held to the same standard as the CRA. Ms. Bright noted she misunderstood what Chair Rodriguez was asking for and mistakenly believed the information she was asked to document would be tied to her evaluation. She apologized and advised she was in the process of preparing the 32 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 information Chair Rodriguez had requested. The documentation being assembled had been routinely extrapolated by staff for the State of the CRA address. C. Request for Proposal for three single-family lots on Martin Luther King Boulevard. D. Request for Proposal for multifamily project on Martin Luther King Boulevard. E. Discussion of Small business Incubator on Seacrest and Martin Luther King Boulevards. XIII. Comments by Staff None. XIV. Comments by Executive Director Ms. Bright referred to comments made earlier by Mr. Norfus. She explained the broken glass from beer bottles had been scattered on MLK Boulevard at the Heritage Celebration. CRA staff was working with City staff, specifically Mr. Magazine, on this issue. As the broken scattered glass had become a public safety Issue, Mr. Magazine recommended the Heritage Celebration be held at the Sims Center rather than MLK Boulevard. She noted $3,000 had been expended to clean up the glass and "No Trespassing" signs had been Installed. Ms. Bright inquired whether the Board members had any interest in a Board training workshop. Messrs. Grlove and Holzman felt the workshop would be beneficial and worthwhile. Ms. Bright suggested her evafuation appraisal discussed earlier could be addressed at the workshop as well. XV. Comments by CRA Board Attorney None. XVI. Comments by CRA Board None. 33 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13,2010 XVII. Adjournment There being no further business to discuss, the meeting properly adjourned at 11: 55 p.m. ~Q/ Stephanie D. Kahn Recording Secretary 041810 34 1:l.'~ '......-""',._-,-~ r ~"ol-"""""""'''''''''''-.l'''"'''''''ft.~'~''--'''~'likf-'"WIl'.'f'it-;Il'~$#'."~''~1'''~''~"~_"'~I~~~~''V' --"""...,............"" iIill j '""~..-"';;:;-~f'J.~oB~,.il.,.~'.;'j(""t-iliii:tdp.~".l>'"..~,~~- VII. CONSENT AGENDA: B. Approval of Period Ended April 30, 2010 Financial Report ~~~~Y~Te~ C . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I X I Consent Agenda I Old Business I I New Business Public Hearing Other SUBJECT: Monthly Financial Report SUMMARY: Monthly budget report to the CRA Board representing the revenues and expenses for the month ending April 30, 2010. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: N/A RECOMMENDATIONS: Approve April financials. ~ T:\AGENDAS, CONSENT AGENDAS. MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Financial Report.doc 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 1 -GENERAL FUND INANCIAL SUMMARY % OF ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING .EVENUE SUMMARY T.I.F.INCOME 6,818,294 6,818,294 0.00 6,960,904.00 0.00 142,610.00) 2.09- MARINA RENT & GRANT INC 926,700 926,700 0.00 465,118.19 0.00 461,581.81 49.81 INVESTMENT INCOME 0 0 0.00 7,664.97 0.00 7,664.97) 0.00 MISCELLANEOUS 0 0 0.00 152.60 0.00 152.60) 0.00 ~OTAL REVENUES 7,744,994 7,744,994 0.00 7,433,839.76 0.00 311,154.24 4.02 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------ ------- :XPENDITURE SUMMARY LEGISLATIVE 49,750 49,750 178.00 7,258.10 0.00 42,491. 90 85.41 ADMINISTRATIVE 209,725 209,725 1,349.61 100,970.37 0.00 108,754.63 51. 86 FINANCE 148,270 148,270 2,063.46 71,021. 50 300.00 76,948.50 51.90 INSURANCES 101,750 101,750 0.00 58,661.99 0.00 43,088.01 42.35 PROFESSIONAL SERVICES 376,000 376,000 30,885.72 35,035.61 40,427.98 300,536.41 79.93 PLANNING 208,600 208,600 251. 44 101,695.39 0.00 106,904.61 51.25 BUILDINGS & PROPERTY 470,190 470,190 12,085.78 128,136.45 17, 690.00 324,363.55 68.99 MARINA 926,700 926,700 14,759.30 463,014.91 0.00 463,685.09 50.04 COMMUNICATIONS & TECHNOLO 57,860 57,860 1,243.78 25,897.18 69.00 31,893.82 55.12 CONTINGENCY 100,000 100,000 0.00 0.00 0.00 100,000.00 100.00 MARKETING 140,702 140,702 1. 103.82 63,510.60 5,650.00 71,541.40 50.85 SPECIAL EVENTS 95,052 95,052 336.48 45,005.24 849.95 49.196.81 51. 76 EMPLOYEE BEBEFITS 228,824 228,824 12,904.68 155,979.36 0.00 72,844.64 31.83 DEBT SERVICE 3,119,526 3,119, 526 0.00 3,119,526.00 0.00 0.00 0.00 TRANSFER OUT 1,512,045 1,512,045 0.00 756,022.50 0.00 756,022.50 50.00 -"'~~~~~"~- .-- TOTAL EXPENDITURES 7,744,994 7,744,994 77,162.07 5,131,735.20 64,986.93 2,548,271.87 32.90 ------------ ------------ ------------ ------------- ------------- ------------- ------- ------------ ------------ -------------- ------------- ------------- ------------- ------- REVENUES OVER/ (UNDER) EXPENDITURES 0 0 ( 77,162.07) 2,302,104.56 ( 64,986.93) ( 2,237,117.63) 0.00 ~ 5-05-2010 1:< PM BOYNTON BEACH REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND % OF REVENUES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING T.I.F.INCOME 01-41000 T.I.F. COLLECTIONS 6,818,294 6,818,294.0 0.00 6,960,904.00 0.00 142,610.00) 2.09- TOTAL T.I.F.INCOME 6,818,294 6,818,294 0.00 6,960,904.00 0.00 142,610.00) 2.09- MARINA RENT & GRANT INC 01-42115 MARINA RENTS 86,400 86,400.0 0.00 35,654.75 0.00 50,745.25 58.73 01-42116 MISCELLANEOUS RENTS FRO PROPE 0 0.0 0.00 7,766.99 0.00 7,766.99) 0.00 01-42117 MARINA FUEL SALES 840,000 840,000.0 0.00 421,509.68 0.00 418,490.32 49.82 01-42118 MARINA MISC INCOME 300 300.0 0.00 186.77 0.00 113.23 37.74 TOTAL MARINA RENT & GRANT INC 926,700 926,700 0.00 465,118.19 0.00 461,581.81 49.81 MARKETING INCOME FESTIVALS & EVENT INCOME INVESTMENT INCOME 01-46100 INTEREST INCOME 0 0.0 0.00 7,664.97 0.00 7,664.97) 0.00 TOTAL INVESTMENT INCOME 0 0 0.00 7,664.97 0.00 7,664.97) 0.00 CONTRIBUTIONS & DONATION MISCELLANEOUS 01-48100 MISCELLANEOUS INCOME 0 0.0 0.00 152.60 0.00 152.60) 0.00 TOTAL MISCELLANEOUS 0 0 0.00 152.60 0.00 152.60) 0.00 OTHER FINANCING SOURCES TOTAL REVENUES 7,744,994 7,744,994 0.00 7,433,839.76 0.00 311,154.24 4.02 --------- ------------ ----------- ------- -------- -------- ------ ------------ ------------ ----------- ------------ ------------ ------- -2- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 1 -GENERAL FUND ,EGISLATIVE lEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING 'URCHASED/ CONTRACT SERV 01-51010-200 CONTRACTUAL EXPENSE 22,500 22,500 0.00 130.00 0.00 22,370.00 99.42 01-51010-203 MISCELLANEOUS 7,000 7,000 83.00 4,474.35 0.00 2,525.65 36.08 01-51010-216 ADVERTISING & PUBLIC NOTI 2,700 2,700 0.00 807.50 0.00 1,892.50 70.09 01-51010-225 ASSOC. MEETINGS & SEMINAR 13,050 13,050 0.00 1,252.75 0.00 11,797.25 90.40 01-51010-227 DELIVERY SERVICES 3,500 3,500 95.00 508.00 0.00 2,992.00 85.49 TOTAL PURCHASED/CONTRACT SERV 48,750 48,750 178.00 7,172.60 0.00 41,577.40 85.29 ;UPPLIES 01-51010-310 OFFICE SUPPLIES 1,000 1,000 0.00 85.50 0.00 914.50 91. 45 TOTAL SUPPLIES 1,000 1,000 0.00 85.50 0.00 914.50 91. 45 TOTAL LEGISLATIVE 49,750 49,750 178.00 7,258.10 0.00 42,491. 90 85.41 ~~ 5-05-2010 1. PM BOYNTON BEACH REVENUE & EXPENDITURES REPOl<:-C (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND ADMINISTRATIVE DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PERSONNEL SERVICES 01-51230-100 PERSONNEL SERVICES 178,125 178,125 0.00 89,062.48 0.00 89,062.52 50.00 01-51230-115 CAR ALLOWANCE 5,400 5,400 0.00 2,704.00 0.00 2,696.00 49.93 TOTAL PERSONNEL SERVICES 183,525 183,525 0.00 91,766.48 0.00 91,758.52 50.00 PURCHASED/CONTRACT SERV 01-51230-225 ASSOC. MEETINGS & SEMINAR 4,000 4,000 1,070.58 3,880.49 0.00 119.51 2.99 01-51230-226 MEMBERSHIP DUES 6,200 6,200 0.00 1,377.00 0.00 4,823.00 77.79 01-51230-227 DELIVERY SERVICES 3,000 3,000 0.00 338.21 0.00 2,661.79 88.73 01-51230-229 CAREER DEVELOPMENT 1,500 1,500 0.00 220.69 0.00 1,279.31 85.29 TOTAL PURCHASED/CONTRACT SERV 14,700 14,700 1,070.58 5,816.39 0.00 8,883.61 60.43 SUPPLIES 01-51230-310 OFFICE SUPPLIES 6,500 6,500 159.15 1,538.16 0.00 4,961. 84 76.34 01-51230-315 POSTAGE 2,000 2,000 0.00 1,169.36 0.00 830.64 41.53 01-51230-340 CELLULAR PHONES 1,200 1,200 0.00 596.92 0.00 603.08 50.26 01-51230-355 SUBSCRIPTIONS 300 300 119.88 119.88 0.00 180.12 60.04 01-51230-360 BOOKS & PUBLICATIONS 500 500 0.00 31. 90 0.00 468.10 93.62 TOTAL SUPPLIES 10,500 10,500 279.03 3,456.22 0.00 7,043.78 67.08 CAPITAL EXPENDITURES 01-51230-400 EQUIPMENT COSTS 1,000 1,000 0.00 68.72) 0.00 1,068.72 106.87 TOTAL CAPITAL EXPENDITURES 1,000 1,000 0.00 68.72) 0.00 1,068.72 106.87 DEPRECIATION & AMORT TOTAL ADMINISTRATIVE 209,725 209,725 1,349.61 100,970.37 0.00 108,754.63 51. 86 -4- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 1 -GENERAL FUND INANCE EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING ERSONNEL SERVICES 01-51325-100 PERSONNEL SERVICES 130,260 130,260 0.00 63,138.94 0.00 67,121.06 51.53 TOTAL PERSONNEL SERVICES 130,260 130,260 0.00 63,138.94 0.00 67,121.06 51.53 URCHASED/CONTRACT SERV 01-51325-200 CONTRACTUAL EXPENSE 2,825 2,825 0.00 1,237.11 0.00 1,587.89 56.21 01-51325-201 BANK FEES 3,200 3,200 0.40) 1,342.41 0.00 1,857.59 58.05 01-51325-225 ASSOC. MEETINGS & SEMINAR 2,250 2,250 78.24 322.94 0.00 1,927.06 85.65 01-51325-226 MEMBERSHIP DUES 895 895 0.00 235.00 0.00 660.00 73.74 01-51325-227 DELIVERY COSTS 500 500 0.00 115.18 0.00 384.82 76.96 01-51325-229 CAREER DEVELOPMENT 3,000 3,000 1,252.22 1,282.22 0.00 1,717.78 57.26 TOTAL PURCHASED/CONTRACT SERV 12,670 12,670 1,330.06 4,534.86 0.00 8,135.14 64.21 UPPLIES 01-51325-310 OFFICE SUPPLIES 2,000 2,000 146.51 1,650.18 0.00 349.82 17.49 01-51325-340 CELLULAR PHONES 1,440 1,440 60.00 646.53 300.00 493.47 34.27 01-51325-355 SUBSCRIPTIONS 1,000 1,000 0.00 404.10 0.00 595.90 59.59 01-51325-360 BOOKS & PUBLICATIONS 500 500 526.89 646.89 0.00 146.89) 29.38- 01-51325-365 OFFICE PRINTING COSTS 400 400 0.00 0.00 0.00 400.00 100.00 TOTAL SUPPLIES 5,340 5,340 733.40 3,347.70 300.00 1,692.30 31. 69 :APITAL EXPENDITURES JEPRECIATION & AMORT ..".._,-~----_._---_._- TOTAL FINANCE 148,270 148,270 2,063.46 71,021. 50 300.00 76,948.50 51.90 5 5-05-2010 1= PM BOYNTON BEACH REVENUE & EXPENDITURES REPOL__ (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND INSURANCES DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PURCHASED/CONTRACT SERV 01-51410-200 CONTRACTUAL EXPENSE 28,650 28,650 0.00 13,398.70 0.00 15,251. 30 53.23 01-51410-213 GENERAL PROPERTY COVERAGE 63,590 63,590 0.00 39,228.00 0.00 24,362.00 38.31 01-51410-214 EMPLOYEE FIDELITY COVERAG 1,000 1,000 0.00 995.29 0.00 4.71 0.47 01-51410-215 DIRECTORS & OFFICERS COVE 8,510 8,510 0.00 5,040.00 0.00 3,470.00 40.78 TOTAL PURCHASED/CONTRACT SERV 101,750 101,750 0.00 58,661. 99 0.00 43,088.01 42.35 TOTAL INSURANCES 101,750 101,750 0.00 58,661. 99 0.00 43,088.01 42.35 -6- ;-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 L -GENERAL FUND ~OFESSIONAL SERVICES ;;PARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING JRCHASED/CONTRACT SERV )1-51420-200 CONTRACTUAL EXPENSE 261,000 261,000 25,398.52 21,552.81 40,427.98 199,019.21 76.25 )1-51420-201 CONTRACT LEGAL 100,000 100,000 5,487.20 12,336.20 0.00 87,663.80 87.66 )1-51420-204 CITY STAFF COSTS 15,000 15,000 0.00 1,146.60 0.00 13,853.40 92.36 TOTAL PURCHASED/CONTRACT SERV 376,000 376,000 30,885.72 35,035.61 40,427.98 300,536.41 79.93 TOTAL PROFESSIONAL SERVICES 376,000 376,000 30,885.72 35,035.61 40,427.98 300,536.41 79.93 5-05-2010 1 PM BOYNTON BEACH REVENUE & EXPENDITURES REPv,,~ (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND PLANNING DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PERSONNEL SERVICES 01-51440-100 PERSONNEL SERVICES 184,205 184,205 0.00 92,102.53 0.00 92,102.47 50.00 01-51440-115 CAR ALLOWANCE 5,400 5,400 0.00. 2,704.00 0.00 2,696.00 49.93 TOTAL PERSONNEL SERVICES 189,605 189,605 0.00 94,806.53 0.00 94,798.47 50.00 PURCHASED/CONTRACT SERV 01-51440-225 ASSOC. MEETINGS & SEMINAR 11,000 11,000 104.95 2,701.18 0.00 8,298.82 75.44 01-51440-226 MEMBERSHIP DUES 475 475 0.00 581. 00 0.00 106.00) 22.32- 01-51440-227 DELIVERY SERVICES 600 600 0.00 120.42 0.00 479.58 79.93 01-51440-229 CAREER DEVELOPMENT 2,000 2,000 0.00 488.00 0.00 1,512.00 75.60 TOTAL PURCHASED/CONTRACT SERV 14,075 14,075 104.95 3,890.60 0.00 10,184.40 72.36 SUPPLIES 01-51440-310 OFFICE SUPPLIES 2,000 2,000 146.49 918.88 0.00 1,081.12 54.06 01-51440-340 CELLULAR PHONES 1,620 1,620 0.00 643.58 0.00 976.42 60.27 01-51440-360 BOOKS & PUBLICATIONS 300 300 0.00 121.95 0.00 178.05 59.35 01-51440-365 OFFICE PRINTING COSTS 1,000 1,000 0.00 1,313.85 0.00 313.85) 31.39- TOTAL SUPPLIES 4,920 4,920 146.49 2,998.26 0.00 1,921.74 39.06 CAPITAL EXPENDITURES DEPRECIATION & AMORT TOTAL PLANNING 208,600 208,600 251.44 101,695.39 0.00 106,904.61 51. 25 -8- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 1 -GENERAL FUND UILDINGS & PROPERTY % OF 'EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING 'URCHASED/ CONTRACT SERV 01-51620-200 CONTRACTUAL EXPENSE 3,050 3,050 0.00 1,039.82 0.00 2,010.18 65.91 01-51620-201 PROPERTY TAXES 160,000 160,000 1,828.58 39,478.13 0.00 120,521.87 75.33 01-51620-205 RENTAL OF OFFICES 42,600 42,600 3,300.00 21,910.00 17,690.00 3,000.00 7.04 01-51620-206 MAINTENENCE & CLEANING 7,560 7,560 630.00 4,847.00 0.00 2,713.00 35.89 01-51620-208 EQUIPMENT LEASES 30,000 30,000 1,718.53 13,959.20 0.00 16,040.80 53.47 01-51620-209 PROPERTY MAINTENENCE COST 201,980 201,980 4,168.26 38,091. 08 0.00 163,888.92 81.14 01-51620-224 SIGNAGE 10,000 10,000 0.00 4,412.59 0.00 5,587.41 55.87 TOTAL PURCHASED/CONTRACT SERV 455,190 455,190 11,645.37 123,737.82 17,690.00 313,762.18 68.93 3UPPLIES 01-51620-325 ELECTRICITY COSTS 9,000 9,000 0.00 2,292.26 0.00 6,707.74 74.53 01-51620-326 WATER CHARGES 6,000 6,000 440.41 2,106.37 0.00 3,893.63 64.89 TOTAL SUPPLIES 15,000 15,000 440.41 4,398.63 0.00 10,601.37 70.68 :APITAL EXPENDITURES .~._--- DEPRECIATION & AMORT ---_._----~ ------ _. _'_'_'m_.__~___'____ "_.-.__ ____'__ TOTAL BUILDINGS & PROPERTY 470,190 470,190 12,085 .78 128,136.45 17,690.00 324,363.55 68.99 9 5-05-2010 1 PM BOYNTON BEACH REVENUE & EXPENDITURES REPtJ.,,"' (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND MARINA DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PURCHASED/CONTRACT SERV 01-51630-200 CONTRACTUAL 500 500 0.00 450.00 0.00 50.00 10.00 01-51630-209 PROPERTY MAINTENENCE 28,100 28,100 1,426.28 6,329.38 0.00 21,770.62 77.48 01-51630-241 MARINA FUEL MANAGEMENT 148,000 148,000 0.00 73,998.00 0.00 74,002.00 50.00 01-51630-242 MARINE FUEL STATION OVERH 37,200 37,200 573.19 19,246.01 0.00 17,953.99 48.26 TOTAL PURCHASED/CONTRACT SERV 213,800 213,800 1,999.47 100,023.39 0.00 113,776.61 53.22 SUPPLIES 01-51630-325 ELECTRIC COSTS 17,100 17,100 182.43 7,170.39 0.00 9,929.61 58.07 01-51630-326 WATER COSTS 2,400 2,400 438.06 2,387.10 0.00 12.90 0.54 01-51630-327 GASOLINE & DEISEL FUEL PU 680,400 680,400 12,139.34 348,366.62 0.00 332,033.38 48.80 01-51630-328 MARINA DIESEL SALES TAX 12,000 12,000 0.00 4,872.78 0.00 7,127.22 59.39 TOTAL SUPPLIES 711,900 711,900 12,759.83 362,796.89 0.00 349,103.11 49.04 CAPITAL EXPENDITURES 01-51630-400 EQUIPMENT COSTS 1,000 1,000 0.00 194.63 0.00 805.37 80.54 TOTAL CAPITAL EXPENDITURES 1,000 1,000 0.00 194.63 0.00 805.37 80.54 TOTAL MARINA 926,700 926,700 14,759.30 463,014.91 0.00 463,685.09 50.04 -10- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 1 -GENERAL FUND OMMUNICATIONS & TECHNOLO EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING URCHASED/ CONTRACT SERV 01-51650-200 CONTRACTUAL EXPENSE 3,760 3,760 0.00 630.00 0.00 3,130.00 83.24 01-51650-210 CITY IT SUPPORT 21,000 21,000 0.00 9,932.86 0.00 11,067.14 52.70 01-51650-211 COMPUTER SOFTWARE & LICEN 3,000 3,000 325.78 354.78 0.00 2,645.22 88.17 01-51650-212 FINANCIAL SOFTWARE MAINTE 6,500 6,500 0.00 0.00 0.00 6,500.00 100.00 TOTAL PURCHASED/CONTRACT SERV 34,260 34,260 325.78 10,917 . 64 0.00 23,342.36 68.13 UPPLIES 01-51650-330 TELEPHONE LINES 15,600 15,600 n8.00 7,551.90 0.00 8,048.10 51.59 TOTAL SUPPLIES 15,600 15,600 918.00 7,551.90 0.00 8,048.10 51. 59 :APITAL EXPENDITURES 01-51650-400 EQUIPMENT COSTS 8,000 8,000 0.00 7,427.64 69.00 503.36 6.29 TOTAL CAPITAL EXPENDITURES 8,000 8,000 0.00 7,427.64 69.00 503.36 6.29 TOTAL COMMUNICATIONS & TECHNOLO 57,860 57,860 1,243.78 25,897.18 69.00 31. 893.82 55.12 . 1 5-05-2010 1: PM BOYNTON BEACH REVENUE & EXPENDITURES REPI... (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND CONTINGENCY DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PURCHASED/CONTRACT SERV 01-51990-200 CONTRACTUAL EXPENSE 100,000 100,000 0.00 0.00 0.00 100,000.00 100.00 TOTAL PURCHASED/CONTRACT SERV 100,000 100,000 0.00 0.00 0.00 100,000.00 100.00 TOTAL CONTINGENCY 100,000 100,000 0.00 0.00 0.00 100,000.00 100.00 -12- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 ) 1 -GENERAL FUND fARKETING )EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING ?ERSONNEL SERVICES 01-57400-100 PERSONNEL SERVICES 87,392 87,392 0.00 43,695.99 0.00 43,696.01 50.00 TOTAL PERSONNEL SERVICES 87,392 87,392 0.00 43,695.99 0.00 43,696.01 50.00 ?URCHASED/CONTRACT SERV 01-57400-216 ADVERTISING & PUBLIC NOTI 3,000 3,000 0.00 4,195.00 0.00 1,195.00) 39.83- 01-57400-218 ANNUAL REPORT & BROCHURES 10,000 10,000 0.00 0.00 0.00 10.000.00 100.00 01-57400-225 ASSOC. MEETINGS & SEMINAR 1,500 1,500 283.79 2,223.87 0.00 723.87) 48.26- 01-57400-226 MEMBERSHIP DUES 900 900 0.00 0.00 0.00 900.00 100.00 01-57400-227 DELIVERY SERVICES 3,000 3.000 572.00 597.00 0.00 2,403.00 80.10 01-57400-229 CAREER DEVELOPMENT 3,000 3,000 0.00 1,069.33 0.00 1,930.67 64.36 01-57400-236 PHOTOGRAPHY / VIDEOS 20,000 20,000 0.00 9,450.00 5,650.00 4,900.00 24.50 TOTAL PURCHASED/CONTRACT SERV 41,400 41,400 855.79 17,535.20 5,650.00 18,214.80 44.00 3UPPLIES 01-57400-310 OFFICE SUPPLIES 5,000 5.000 146.49 761. 49 0.00 4,238.51 84.77 01-57400-340 CELLULAR PHONES 1, 260 1,260 0.00 882.53 0.00 377.47 29.96 01-57400-355 SUBSCRIPTIONS 550 550 101.54 398.49 0.00 151.51 27 .55 01-57400-360 BOOKS & PUBLICATIONS 100 100 0.00 0.00 0.00 100.00 100.00 01-57400-365 OFFICE PRINTING COSTS 5,000 5,000 0.00 236.90 0.00 4,763.10 95.26 TOTAL SUPPLIES 11,910 11,910 248.03 2,279.41 0.00 9,630.59 80.86 DEPRECIATION & AMORT TOTAL MARKETING 140,702 140,702 1.103.82 63,510.60 5.650.00 71,541.40 50.85 3 5-05-2010 12 .?M BOYNTON BEACH REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND SPECIAL EVENTS DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PERSONNEL SERVICES 01-57500-100 PERSONNEL SERVICES 84,022 84,022 0.00 42,010.93 0.00 42,011.07 50.00 TOTAL PERSONNEL SERVICES 84,022 84,022 0.00 42,010.93 0.00 42,011.07 50.00 PURCHASED/CONTRACT SERV 01-57500-225 ASSOC. MEETINGS & SEMINAR 1,500 1,500 20.00 1,263.02 0.00 236.98 15.80 01-57500-226 MEMBERSHIP DUES 400 400 0.00 0.00 0.00 400.00 100.00 01-57500-229 CAREER DEVELOPMENT 2,000 2,000 0.00 104.90 0.00 1,895.10 94.76 TOTAL PURCHASED/CONTRACT SERV 3,900 3,900 20.00 1,367.92 0.00 2,532.08 64.93 SUPPLIES 01-57500-310 OFFICE SUPPLIES 2,500 2,500 146.49 781. 46 0.00 1,718.54 68.74 01-57500-340 CELLULAR PHONES 1,680 1,680 169.99 829.93 849.95 0.12 0.01 01-57500-355 SUBSCRIPTIONS 250 250 0.00 0.00 0.00 250.00 100.00 01-57500-360 BOOKS & PUBLICATIONS 200 200 0.00 15.00 0.00 185.00 92.50 TOTAL SUPPLIES 4,630 4,630 316.48 1,626.39 849.95 2,153.66 46.52 CAPITAL EXPENDITURES 01-57500-400 EQUIPMENT COSTS 2,500 2,500 0.00 0.00 0.00 2,500.00 100.00 TOTAL CAPITAL EXPENDITURES 2,500 2,500 0.00 0.00 0.00 2,500.00 100.00 DEPRECIATION & AMORT TOTAL SPECIAL EVENTS 95,052 95,052 336.48 45,005.24 849.95 49,196.81 51. 76 -14- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 11 -GENERAL FUND :MPLOYEE BEBEFITS )EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING ?ERSONNEL SERVICES 01-59000-151 F.I.C.A. 41,838 41,838 0.00 18,806.92 0.00 23,031. 08 55.05 01-59000-152 MEDICARE 9,785 9,785 0.00 5,286.73 0.00 4,498.27 45.97 01-59000-153 RETIREMENT PLAN 401 (a) 71,049 71,049 7,516.00 53,178.00 0.00 17,871.00 25.15 01-59000-154 WORKERS COMP INSURANCE 5,000 5,000 0.00 2,278.94 0.00 2,721.06 54.42 01-59000-155 HEALTH INSURANCE 62,208 62,208 4,743.09 38,041.92 0.00 24,166.08 38.85 01-59000-156 DENTAL INSURANCE 4,147 4,147 267.39 2,133.36 0.00 2,013.64 48.56 01-59000-157 LIFE INSURANCE 1,057 1,057 80.10 640.80 0.00 416.20 39.38 01-59000-158 SHORT / LONG TERM DISABIL 3,092 3,092 262.82 2,102.56 0.00 989.44 32.00 01-59000-159 UNEMPLOYMENT CHARGES 5,000 5,000 0.00 3,266.09 0.00 1,733.91 34.68 01-59000-160 VISION INSURANCE 648 648 35.28 244.04 0.00 403.96 62.34 01-59000-161 COMPENSATED ABSENSES 25,000 25,000 0.00 30,000.00 0.00 5,000.00) 20.00- TOTAL PERSONNEL SERVICES 228,824 228,824 12,904.68 155,979.36 0.00 72,844.64 31. 83 . ._----------,-,--- -"-----_._~..,,-_.,_."_. TOTAL EMPLOYEE BEBEFITS 228,824 228,824 12,904.68 155,979.36 0.00 72,844.64 31.83 5 5-05-2010 1 PM BOYNTON BEACH REVENUE & EXPENDITURES REPl-.._ (UNAUDITED) AS OF: APRIL 30TH, 2010 01 -GENERAL FUND DEBT SERVICE DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING DEBT SERVICE OTHER FINANCING USES 01-59800-990 TRANS OUT TO DEBT SERVICE 3,119,526 3,119,526 0.00 3,119,526.00 0.00 0.00 0.00 TOTAL OTHER FINANCING USES 3,119,526 3,119,526 0.00 3,119,526.00 0.00 0.00 0.00 TOTAL DEBT SERVICE 3,119,526 3,119,526 0.00 3,119,526.00 0.00 0.00 0.00 -16- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 1 -GENERAL FUND RANSFER OUT 'EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING lTHER FINANCING USES 01-59999-990 INTERFUND TRANSFERS OUT 1,512,045 1,512,045 0.00 756,022.50 0.00 756,022.50 50.00 TOTAL OTHER FINANCING USES 1,512,045 1,512,045 0.00 756,022.50 0.00 756,022.50 50.00 TOTAL TRANSFER OUT 1,512,045 1,512,045 0.00 756,022.50 0.00 756,022.50 50.00 eOTAL EXPENDITURES 7,744,994 7,744,994 77,162.07 5,131,735.20 64,986.93 2,548,271.87 32.90 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- 'lEVENUE S OVER/ (UNDER) EXPENDITURES 0 0 ( 77,162.07) 2,302,104.56 ( 64,986.93) ( 2,237,117.63) 0.00 1 r 5-05-2010 1 PM BOYNTON BEACH REVENUE & EXPENDITURES REI?- (UNAUDITED) AS OF: APRIL 30TH, 2010 02 -PROJECTS FUND FINANCIAL SUMMARY ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING REVENUE SUMMARY INVESTMENT INCOME 0 0 0.00 5,645.86 0.00 5,645.86) 0.00 OTHER FINANCING SOURCES 3,919,107 4,106,318 0.00 756,022.50 0.00 3,350,295.71 81. 59 TOTAL REVENUES 3,919,107 4,106,318 0.00 761,668.36 0.00 3,344,649.85 81.45 ---------- ---- ---------- ---------- ---------- ---------- ------- --------- ----------- ------------- ---------- ------------- ------------- ------- EXPENDITURE SUMMARY OPERATING EXPENSES 200,000 337,211 53,665.24 198,630.82 73,718.55 64,861. 84 19.23 CAPITAL OUTLAY 1,246,309 1,246,309 12,137.27 297,994.92 117,930.33 830,383.75 66.63 AFFORDABLE HOUSING 1,139,433 1,139,433 0.00 27,180.00 5,170.00 1,107,083.00 97.16 ECONOMIC DEVELOPMENT 643,040 693,040 31,264.50 262,499.90 28,989.10 401,551. 00 57.94 PROJECTS AND PROGRAMS 690,325 690,325 4,263.09 235,086.04 4,420.00 450,818.96 65.31 TOTAL EXPENDITURES 3,919,107 4,106,318 101,330.10 1,021,391. 68 230,227.98 2,854,698.55 69.52 ----- ----------- --------- ------ ----------- --------- ------ ----------- ---------- ------------ ----------- ------------- ------------ ----- REVENUES OVER/ (UNDER) EXPENDITURES 0 0 101,330.10) ( 259,723.32) ( 230,227.98) 489,951. 30 0.00 -18- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 2 -PROJECTS FUND % OF .EVENUES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING :NVESTMENT INCOME 02-46100 INTEREST INCOME 0 0.0 0.00 5,645.86 0.00 5,645.86) 0.00 TOTAL INVESTMENT INCOME 0 0 0.00 5,645.86 0.00 5,645.86) 0.00 IISCELL1INEOUS ITHER FINANCING SOURCES 02-49100 OTHER FINANCING SOURCES 2,407,062 2,594,273.2 0.00 0.00 0.00 2,594,273.21 100.00 02-49900 TRANSFERS IN 1,512,045 1,512,045.0 0.00 756,022.50 0.00 756,022.50 50.00 TOTAL OTHER FINANCING SOURCES 3,919,107 4,106,318 0.00 756,022.50 0.00 3,350,295.71 81.59 'OTAL REVENUES 3,919,107 4,106,318 0.00 761,668.36 0.00 3,344,649.85 81. 45 ------------ ------------ ------------- ------------- ------------- ----------- ------- _..----------- ------------ ------------- ------------- ------------- ------------- ------- 19 5-05-2010 1: PM BOYNTON BEACH REVENUE & EXPENDITURES REP{".,_ (UNAUDITED) AS OF: APRIL 30TH, 2010 02 -PROJECTS FUND OPERATING EXPENSES DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING PURCHASED/CONTRACT SERV 02-58100-203 CONTRACTUAL EXPENSE 150,000 287,211 50,507.54 190,373.93 73,718.55 23,118.73 8.05 02-58100-213 LEGAL FEES 50,000 50,000 3,157.70 8,256.89 0.00 41,743.11 83.49 TOTAL PURCHASED/CONTRACT SERV 200,000 337,211 53,665.24 198,630.82 73,718.55 64,861. 84 19.23 TOTAL OPERATING EXPENSES 200,000 337,211 53,665.24 198,630.82 73,718.55 64,861. 84 19.23 -20- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 2 -PROJECTS FUND :APITAL OUTLAY % OF )EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING :APITAL EXPENDITURES 02-58200-400 LAND 100,000 100,000 0.00 0.00 0.00 100,000.00 100.00 02-58200-404 CONSTRUCTION IN PROGRESS 228,680 228,680 11.54 16,331.37) 9,612.50 235,398.87 102.94 02-58200-405 SITE WORK AND DEMOLITION 50,000 50,000 1,176.00 3,551.00 0.00 46,449.00 92.90 02-58200-406 INFRASTRUCTURE AND STREET 867,629 867,629 10,949.73 310,775.29 108,317.83 448,535.88 51.70 TOTAL CAPITAL EXPENDITURES 1,246.309 1,246,309 12,137.27 297,994.92 11 7,930 .33 830,383.75 66.63 TOTAL CAPITAL OUTLAY 1,246,309 1,246,309 12,137.27 297,994.92 117,930.33 830,383.75 66.63 .21 5-05-2010 1 PM BOYNTON BEACH REVENUE & EXPENDITURES REPOKf (UNAUDITED) AS OF: APRIL 30TH, 2010 02 -PROJECTS FUND AFFORDABLE HOUSING DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING CAPITAL EXPENDITURES 02-58300-420 RESIDENTIAL IMPROVEMENT P 199,805 199,805 0.00 27,180.00 5,170.00 167,455.00 83.81 02-58300-421 HOME BUYERS ASSISTANCE PR 939,628 939,628 0.00 0.00 0.00 939,628.00 100.00 TOTAL CAPITAL EXPENDITURES 1,139,433 1,139,433 0.00 27,180.00 5,170.00 1,107,083.00 97.16 TOTAL AFFORDABLE HOUSING 1,139,433 1,139,433 0.00 27,180.00 5,170.00 1,107,083.00 97.16 -22- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 2 -PROJECTS FUND CONOMIC DEVELOPMENT % OF IEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING :APITAL EXPENDITURES 02-58400-440 FACADE GRANTS-COMMERCIAL 105,000 105,000 13,864.50 37,610.90 22,389.10 45,000.00 42.86 02-58400-442 TRANSPORTATION PROGRAM 438,040 438,040 16,800.00 224,289.00 0.00 213,751.00 48.80 02-58400-443 DIFA-ECONOMIC DEVELOPMENT 100,000 100,000 0.00 0.00 0.00 100,000.00 100.00 02-58400-444 ECONOMIC DEVELOPMENT GRAN 0 50,000 600.00 600.00 6,600.00 42,800.00 85.60 TOTAL CAPITAL EXPENDITURES 643,040 693,040 31,264.50 262,499.90 28,989.10 401,551. 00 57.94 TOTAL ECONOMIC DEVELOPMENT 643,040 693,040 31,264.50 262,499.90 28,989.10 401.551.00 57.94 23 5-05-2010 l' PM BOYNTON BEACH REVENUE & EXPENDITURES REP\-_._ (UNAUDITED) AS OF: APRIL 30TH, 2010 02 -PROJECTS FUND PROJECTS AND PROGRAMS DEPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE % OF BUDGET REMAINING CAPITAL EXPENDITURES 02-58500-460 COMMUNITY POLICING INNOVA 396,325 396,325 0.00 109,918.46 0.00 286,406.54 72.27 02-58500-470 COMMUNITY SUPPORT PROJECT 0 0 500.00 2,925.00 4,420.00 7,345.00) 0.00 02-58500-480 COMMUNITY SPECIAL EVENTS 294,000 294,000 3,763.09 122,242.58 0.00 171,757.42 58.42 TOTAL CAPITAL EXPENDITURES 690,325 690,325 4,263.09 235,086.04 4,420.00 450,818.96 65.31 TOTAL PROJECTS AND PROGRAMS 690,325 690,325 4,263.09 235,086.04 4,420.00 450,818.96 65.31 -24- 5-05-2010 12:39 PM BOYNTON BEACH CRA REVENUE & EXPENDITURES REPORT (UNAUDITED) AS OF: APRIL 30TH, 2010 2 -PROJECTS FUND RANSFER OUT - ASSET TRA % OF EPARTMENTAL EXPENDITURES ORIGINAL BUDGET AMENDED BUDGET MONTHLY ACTIVITY YEAR-TO-DATE BALANCE TOTAL ENCUMBERED UNENCUMBERED BALANCE BUDGET REMAINING THER FINANCING USES OTAL EXPENDITURES 3,919,107 4,106,318 101,330.10 1,021,391.68 230,227.98 2,854,698.55 69.52 ------------ ------------ ------------- ------------- ------------- ------------- ------- ------------ ------------ ------------- ------------- ------------- ------------- ------- EVENUES OVER/ (UNDER) EXPENDITURES o o ( 101,330.10) ( 259,723.32)( 230,227.98) 489,951.30 0.00 ,- L~ "-ir'-'"'""""""""-""-'-"''''''T'-''~-.'\::'.'''-t1I~'4''ltUiiIi'~''' ... "..'.", ... ," ,,,,,,~._,,,__,_,,,,"~,,,~,.,"^~.~...... VII. CONSENT AGENDA: C. Approval of the Mayor's Boynton Harbor Marina Slip Tenant Meeting ~~~qY~Te~ eRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: Mayll,201O I x I Consent Agenda [ I Old Business New Business Legal Other SUBJECT: Mayor's Boynton Harbor Marina Slip Tenant Meeting SUMMARY: . Chairman Rodriguez requested a meeting be held with the Boynton Harbor Marina Slip Tenants for him to address complaints he had heard from various individuals. . The Executive Director inquired with the CRA Board's marina management company, Waypoint Marine, if they were aware of outstanding complaints or issues as well as CRA staff overseeing the marina renovation projects. No complaints had been registered with either Waypoint Marine or CRA staff. . The Executive Director asked CRA counsel if a resolution was necessary for the Chairman to hold such a meeting and advised it was not necessary as long as the meeting was a "fact finding" mISSIOn. . The Executive Director and Waypoint Marine met with Two Georges marina tenant, Paul Fasolo, regarding the CRA's demand he remove his personal property (fish cleaning) station from public property during the slip renovation project. . Mr. Fasolo inquired to the Executive Director if he would be allowed to reattach his personal property, the fish cleaning station and business signage, upon completion of the renovations. The Executive Director spoke to the CRA's insurance agent who advised it would not be possible to insure as part of the overriding document. Mr. Fasolo was advised he would need to remove his personal fish cleaning station. . The Mayor's Boynton Harbor Marina Slip Tenant meeting was held Monday, April 26, 2010 and was publicly noticed so all CRA Board Members who could attend as well as the public. . The meeting notes were taken by CRA staff and distributed to the entire CRA Board. FISCAL IMPACT: Project Fund Budget Line Item - 58200-404 T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Mayor's Marina Meeting.doc ~~~<tY~Te~ICRA . East Side-West S.lde-Seaside Rena.lssance CRA PLAN, PROGRAM OR PROJECT: Marina Plan, Downtown Master Plan and Community Redevelopment Plan of 1983, RECOMMENDATIONS: Accept the minutes of the Mayor's Boynton Harbor Marina Slip Tenant Meeting and allow the Executive Director sufficient time to evaluate each of the items of concern and provide the CRA Board a full report at a later date. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Mayor's Marina Meeting.doc Meeting Notes from Mayor's Boynton Harbor Marina Slip Tenant Meeting Monday, April 26, 2010, at 4pm The Club Room at Marina Village 700 E. Boynton Beach Boulevard, Boynton Beach, FL 33435 The meeting opened at 4:05. Mike Simon, Development Director of the CRA introduced Mayor Rodriguez. The Mayor took the floor and stated that he had heard a lot of complaints and ideas from the slip tenants. He wanted everyone to get on the same page and that was the purpose of the meeting. Mike Simon gave a PowerPoint presentation of the Marina Master Plan. He also informed the group that the docks and piers had been issued a Certificate of Occupancy by the City but that he recognized that there were still things that needed to be addressed by the CRA on behalf of the tenants. Mr. Simon informed the group that the CRA had invested $1 M on the drawings and construction of the new docking facilities and that the goal was for a uniform look but that works for the tenants. The CRA upgraded the wood to ipe wood which has a 40 year life span. For that reason, the CRA wanted to control what could be affixed to the docks by tenants. Items staff were looking at to complete the dockage project are: 1. Signage for each vessel 2. Brochure Boxes for each vessel 3. Ladders to the vessels 4. ShadelWork stations 5. Fish Cleaning stations 6. Fish Display area The Mayor asked the slip tenants to list items of concern about the marina. The topics included: 1. 2. 3. 4. 5. 6. Garage parking/towing Fish display business relocation shade/work stations dip in east end of ramp brochure holders The Mayor then asked the slip tenants to list the items in order of importance. PARKING The group felt that parking was the major issue of the marina. The group identified the parking problems as: 1. By 8:00 a.m. the public parking in the Marina Village parking garage was being filled by Two Georges and Banana Boat employees. Two Georges has off-site parking behind Ocean Plaza but its not being used. Banana Boat employees used to park at Bank of America site prior to the existence of the public parking in the Marina Village garage. No enforcement by police or private security. 2. There was a need for the loading/unloading zone to be enforced along the docks. 3. The public handicap parking in Marina Village garage was being used by Marina Village residents. ACTIONS The Mayor stated that CRA staff should undertake the following actions regarding the parking issues: 1. Speak to the restaurants about the situation to see if their employees could park off-site and have a golf Cali move them between the restaurants and the off-site parking. 2. Speak to the Marina Village Master Association to see if the towing time (1 :00 a.m.) could be extended to 24 hours and to alert their security company about MY residents parking in the public handicap parking. 3. Meet with the police about enforcing the unload/load zone through ticketing offenders. Only persons with the Boynton Harbor Marina sticker (slip tenants) can use the unload/load zone during the day until 6:00 p.m. After 6:00 p.m. those spaces are reserved for Two Georges parking. FISH DISPLAYIDISPOSAL The group identified the need for either individual or communal fish display area. Two types of fish display were identified by the group; display of carcasses to attract customers and a communal area where fish could be hung and photos taken. Rob Larson of Way point Marina, the CRA contracted marina management company. pointed out that the disposal of fish carcasses in the Intracoastal or marina was not permitted by the Florida Department of Environmental Protection (FEDP). If fish remains were disposed of in the marina, FEDP could shut the CRA marina down. Fish remains should be bagged and placed in the communal dumpster. There was discussion that the dumpster was a compactor dumpster which is supposed to be liquid tight but it is leaking and causing noxious odors. The dumpster is emptied daily. The dumpster is leased by Two Georges and the CRA pays Two Georges $25 a day for use by the CRA marina tenants. 2 Consensus was that display of carcasses on the CRA docks was not appropriate and that it should be done on the vessels. This is due to the fact that some people leave the carcasses too long and they begin to attract flies and create odors offensive to the adjacent restaurants and slip tenants. There was consensus that there should be a communal fish display station which displays the name "Boynton Harbor Marina" where anglers could hang their fish for photographs. Historically there was a fish display station when the marina was owned by the Lyman family. ACTIONS The Mayor stated that CRA staff would undertake the following actions: I. Have MSCW (the marina master plan designer) determine a location and design for a communal fish display station. 2. Get with Two Georges and see who they lease the dumpster from. If the dumpster is leased from the City, ask the City to replace it with a new, non- leaking dumpster. SHADEIWORK STATIONS The tenants felt that shade and an area to meet with prospective customers was necessary for each vessel. It was also discussed that these structures should be uniform in design/color, etc. There was discussion about who would pay for the structures; the slip tenants or the CRA. The space on the dock behind the vessels is not uniform across all the slips so the structures would have to be custom made for each slip space. The group decided that dive boats would get a shade/workstation and the fishing charter vessels would get a fish cleaning/shade station for each vessel. ACTIONS The Mayor said that staff should undertake the following actions: 1. Have MSCW come up with a design concept for the shade, work and fish cleaning stations, how each one would be placed at each slip and determine the cost. RAMP DIP It was noted by one slip tenant that the east end of the dock (towards Two Georges) had a dip in it. ACTIONS 1. The Mayor asked CRA staff to get with MSCW and Shoreline Construction to see if there was a remedy to this. 3 BUSINESS RELOCATION One slip tenant complained that his spot was reassigned without notice. Rob Larson 01 Waypoint Marina pointed out that the CRA lease stated in Section 13, that the Manager or owner could move a slip tenant. Mike Simon pointed out the purpose of this section in the lease was to allow the CRA to maximize revenue, move a vessel that was larger than stated by the slip tenant or in the event of an emergency. ACTIONS The Mayor recommended that CRA staff add a notice period of slip reassignment to the lease. The Mayor encouraged the slip tenants to organize into a group to have one voice on manna Issues. The meeting was adjourned at 6:50. 4 ':~~:~-r;W:\~""';~~mltiBI!jiti~;;'~~f:U;";&;"\:i.lW~~'0l~~~~'~'~':;;~~l"U~~'!.:JE;t;4f"~~'Ik,i.!><''-;"';;A..wi;il~~'''~~~~#'~lll.h~..ai,w.~&~;;l/I~..~(kO:io;o\r''''''''''~_'';, ~f'~"~":~~~:i:.k.""',.",.";.,^.;b...~..,,,,,.,,:..\~~,,-_,,... VII. CONSENT AGENDA: D. Approval of Commercial Fa~ade Grant to Janashpa Ent. d/b/a McDonald's Restaurant 1!~~<tY~Te~ eRA ill East Side-West Side-Seas'lde Renaissance eRA BOARD MEETING OF: May 11,2010 I X I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Commercial Facade Improvement Grant application to Janashpa Enterprises, Inc. d/b/a McDonald's Restaurant SUMMARY: Janashpa Enterprises, Inc., as tenants of the property located at 1810 South Federal Highway, has submitted an application to the CRA's Commercial Facade Improvement Grant Program. Eligible items under grant program guidelines include exterior painting and structural repairs, awnings, signage, lighting, paving and landscaping. The applicant is proposing a scope of work that includes painting, landscaping and restriping/sealing of parking lot. The Commercial Fayade Improvement program reimburses 50% of the applicant's expenditures for the eligible improvements up to a maximum grant total of $15,000.00. Any unused grant funds will be released back into the program. FISCAL IMPACT: Project Fund line item: 02-58400 CRA PLAN, PROGRAM OR PROJECT: 2008 CRA Economic Development Plan RECOMMENDATIONS: Approve the Commercial Facade Improvement Grant application for up to $15,000.00 to Janashpa Enterprises, Inc. d/b/a McDonald's Restaurant for program eligible items for the property located at 1810 South Federal Highway, Boynton Beach, FL. Jf~ ~2fA Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetinglFY 2009 - 2010 Board MeetingsI05-11-10 MeetinglComm Facade Grant- Janashpa McDonald's Restdoc 2009/2010 COMMERCIAL FACADE IMPROVEMENT GRANT PROGRAM APPLICATION FORM Boynton Beach Community Redevelopment Agency Maximum Grant Amount is $15,000 (Please Print Or Type Only - Use Additional Sheets If Necessary) M)(< () lUL' APPLICANT INFORMATION 'fl""fttt. Dt-o CrJi-oAJ'I Co}-I{)AtVY @ ~ q:/X) OIIA.- Name of Property Owner: Address of Property Owner: ~ 0 j (Sc-x Lftff) SAUf,fflV{)i S,7.AnON l{vf';.TfliJ(l [;;/\>"1", : I City/State: Zip Code: Phone # Day: Evening: Legal owners and legal description of the property to be improved (please attach copy of warranty deed and lease, if applicable): If Different from Property Owner Name of Business: JANA.'JrtfA tAn () fJ It Ne.t};:,.u;iW"J, fZ!3S1"1full4fJf Address of Business: 1"51 t) ;-););)TH f~.O~tAl Hl&+.v/l'i Phone # Day: (S.t:4fJ-r t/N [~.d : f L ~t.- .7 3k (6tli'1 . Zip Code:3:5~ J,) Evening: _. 6G..J' 73(1- ').-1~i.t City/State: Type of Business: Years of Operation: Or.: .::.-.-,. . '/; ^ f' ,.' ~ '.;:.- ...;,........." - . .rl' F< q1-J Number of Employees: b~- Annual Payroll: #- bhC .OC;{. ,;c . Number of Employees residing in Boynton Beach: -.., .,:)?-- List of improvements proposed: P:,I1'1:;(~i.,tu:. ,~(~.~~ :{-~L'}D..'" F:;" ~,~ '~~~~;;, ~')\.',;-e':} 1fP'.A::,'~ t.....jJtJs-::.!."'.. I~~F-I!..~;) 'i.S' ~~. J:'<; 1)01.'<"'':<:; J/~"" PROGRAM GUIDELINES The following guidelines are intended to inform a potential grant applicant of the extent and scope of the program. The purpose of the program is to encourage commercial property owners to upgrade their properties by improving the external appearance of their business and to encourage businesses to invest in their operations. The result will halt deterioration, stabilize property values, improve and upgrade appearance of the area, and facilitate and encourage redevelopment activity in the target area. The following guidelines are applicable to this program: 1. The program is available only for property located within the Community Revitalization Areas of the Boynton Beach Community Redevelopment Agency (CRA). Note: See attached CRAArea Map. 2. The program is for commercial properties and businesses. The property owner must be the applicant. However, if the property is currently leased to a tenant, then the Application and Agreement must be jointly executed by both the owner and the tenant. 3. Eligible improvements for this program include: . Painting . Shutters · Signage (located on the building or the property) . Awnings/canopies · Decorative exterior fa~ade improvements · Exterior Doorslwindows . Landscaping around the building . Irrigation · Parking lot re-paving, re-sealing, re-striping . Exterior Lighting · Patio or decks connected to the building · Exterior wall repairs (e.g. stucco, brick or wood repairs and replacement) . ADA improvements 2 4. All work !!.!.y!! be in compliance with applicable Boynton Beach Building Codes and all contractors must be licensed in Boynton Beach/Palm Beach County. If the Applicant(s), installs enhanced landscaping and or signage it must be in accordance with City Ordinance No. 98-43. 5. Maximum Grant amounts: The CRA will provide, on a reimbursement basis, a 50% matching grant for eligible fayade improvements up to a total of fifteen thousand dollars ($15,000) of CRA funds. Example: Total project costs: $18,000.00 Applicant funds expended: $18,000.00 CRA reimbursement: $ 9,000.00 6. The Fa<.;:ade Grant program may only be used one time in any five year period for anyone eRA Board approved applicant. Properties may re-apply for additional grants any time after five (5) years from previous grant approvaL Project phasing of up to two years can be requested. 7. The property owner, or tenant if applicable, must complete the fa<.;:ade improvement project and submit for reimbursement within 120 days of the grant award. Failure to complete the fa<.;:ade improvements in a timely manner will result in the property owner, or tenant if applicable, losing the grant reimbursement opportunity. The Board may consider time extensions. 8. Disbursement of grant funds shall only occur if the following conditions are met: a. CRA has received copies of executed contracts, canceled checks (front and back) and proof that the work has been approved by the City Building Department (if applicable). b. CRA has received copies of final "paid in full" vendor/contractor invoices. c. eRA has received copies of final inspection approvals for all permit required work. c. Entire scope of work for eligible items is completed. d. Applicant provides "After" photos. 3 APPLICA liON PROCESS 1. An applicant seeking a project grant may secure an application from the Boynton Beach Community Redevelopment Agency (CRA) located at 915 S. Federal Highway, Boynton Beach. 561-737-3256. 2. An original application with all materials is to be returned to the Boynton Beach Community Redevelopment Agency for review and approval by the CRA Board. Applications will be considered on a first-come, first served basis. Applicants must take the necessary steps to ensure that their submitted application is property time stamped to document receipt by the CRA. 3. Appropriate grant program documents will be prepared and submitted by the applicant. CRA staff will then present the completed grant application to the CRA Board for their review and approval. The CRA Board conducts their meetings on the second Tuesday of each month and the applicant will be notified of grant approval by regular mail. 4. The CRA will administer the Commercial Facade Improvement program and funding. In addition to the appropriate City building inspections, the CRA will inspect the work to determine the satisfactory completion of the work. 5. Applicants may not have any outstanding City of Boynton Beach liens against their property. In the event that an Applicant has an outstanding City of Boynton Beach lien against the property, the grant will not be awarded until the complete satisfaction of the lien. 6. Applicant shall obtain, read and understand all aspects of the Fayade Grant Program Agreement, including Program and Reimbursement Regulations. 7. Application to this Program is no guarantee of funding. Funding is at the sole discretion of the CRA Board. PROJECT INFORMA liON Describe improvements to be done to the property. Attach the following items: if< e Project work write-up(s) describing in detail the scope of the project, . Plans or sketches if applicable, . Site plan and plant list for landscape projects, . Third-party cost estimates from three (3) licensed contractors, jt. Estimated time line, 1<. Evidence of financial ability to pay for the project (approved loan, cash account, line of credit, etc.), ~. A minimum of four (4) 3" x 5" color "before" photos of the project which must include "public views", . Signage design with colors & materials proposed if applicable, . Project color chips I material samples if applicable, . And material specifications. Applicable documents must be attached for the Application to be processed. 4 By signing this Application, I acknowledge that I have received and read a copy of the Program Agreement, and I understand and agree to comply with its content. ~f#!:- Properly Owne~- '1IID~'U 1 ( ate) (Property owner's signature must be notarized) Witness (Date) Tenant/Business Owner (Date) STATE OF FLORIDA, COUNTY OF PALM BEACH BEFORE ME, an OffiC~ ~Jlr authoriZ~ by law to administer oa~~~~ take ackno~~dgements, personally appeared l~;(?-W- ' ~is personally known ~or . ~--- -------- produced as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County /0 /;J il/J , ',',. aforesaid on this . day of ~ ~ NOTARYPUBLlC ~CZf C;t)0r3 ,20 / c) My Commission Expires: 5 I'.... ~~~<tY~Te~ C . East Side-West S"lde-Seas"lde Renaissance 2009/2010 COMMERCIAL FACADE IMPROVEMENTS GRANT PROGRAM PROGRAM AGREEMENT PROGRAM REGULATIONS 1. The Applicant agrees not to alter, renovate, or demolish the new fa~ade for three years, commencing at the time final inspection by the CRA is completed. If violated by the applicant, the CRA may choose to require grant fund repayment, enforced by property lien. 2. The CRA will consider approval of grants for exterior improvements to a building which does not face a recognized street. The exterior rear of a building facing an alley way will also be considered. 3. A minimum of three (3) inspections by the CRA may be required. Those eRA inspections are (1) before starting work, (2) during work and (3) final inspection. More inspections may be required by the CRA. It is the sole responsibility of the Applicant to schedule inspections with the CRA. These inspections in no way are substitutes for required City Building Code inspections and compliances. 4. The property owner, or tenant if applicable, must complete the fa~ade improvement project and submit for reimbursement within 120 days of the grant award. Failure to complete the fa~de improvements in a timely manner will result in the property owner, or tenant if applicable, losing the grant reimbursement opportunity. The Board may consider time extensions. REIMBURSEMENT REGULATIONS 1. This program is designed as a reimbursement grant. That is, all work must be done and paid for by the Applicant, prior to the CRA's funds being released. The CRA will provide reimbursement to the grantee upon submittal of a complete Reimbursement Request and approval of completion by the CRA Board. 2. Reimbursement Request shall be summarized in a report and accompanied by proper documentation. Proper documentation will consist of (1) Project accounting including invoices, receipts or other acceptable evidence of payment from suppliers and licensed contractor(s) that have been marked "paid" with a "release of lien" signed by each. Proposals for "work to be completed" or "bids" are not considered proper documentation. Each item will be supported by a canceled check showing the face of the check, as well as the back of the canceled check, (2) the Applicant shall warrant that all bills related to the Project are paid in full incluomg, but not limited to, all contractors, subcontracts, labor, materials, related fees and permits, and (3) the Application for re-imbursement shall provide a minimum of four 3"x5" color "during" photos and a minimum of four 3"x5" color "after" photos of the Project. Photos should be from approximately the same position as the "before" photos submitted in the Application and the "during" photos, 3. Grant funds will be reimbursed exclusively for approved work, approved change orders and only for work that has been performed !fl!r the grantee has received notification that the Grant Application has been approved by the CRA 4. Grantees may not submit fa~ade work improvements for reimbursement which have been used as reimbursement requests in any other grant program offered by the CRA, City, Palm Beach County or the State of Florida. The Fa~ade Grant program will only honor new expenditures that have not been submitted under other grant programs. The Fa~de Grant program may only be used one time in any five year period for any CRA Board approved applicant. Properties may re-apply for additional grants any time after five (5) years from previous grant approval. 5. Grantees shall grant the CRA and/or the City of Boynton Beach the rights and use of photo n ~ect application materials, Prope Witness (Date) Tenant/Business Owner (Date) STATE OF FLORIDA, COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oa ledgements, personally appeared "-PCl4.JZ ~Ltz15 ~ , who is ersonally known to ~r produced as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this 10 day of {)f1./lA..--L , 20 / Q NOTARY PUBLIC /1:inCfl-- () ~OOff My Commission Expires: _ NANCV1l'DAY MY COMMIS8ION tllD01!'~ ~RES:APR18.2014 ~1nuIh11t"M~ 2 J1) i'm lovi n' it' Janashpa ENT. D/B/A McDonald's Restaurant 1810 South Federal Highway Boynton Beach, FI 33435 CRA Commercial Faf;ade Improvement Proeram 1 SEALCOAT ENTIRE PARKING LOT AND DRIVE-TIIRU LANE. )- RESTRIPE PARKING STALLS AND REPLACE BROKEN CARSTOPS. /> PRESSUREW ASH ALL CURBS, DUMPSTER AREA, AND EXTERIOR WALLS OF BUILDING. h PAINT ENTIRE BUILDING AND DUMPSTER CORRAL AREA. h REMOVE RUST AND PAINT ROADSIGN POLE. r-. ( () REPAIR AND PAINT BROKEN SECTIONS OF FENCING J \J SURROUNDING PLAYGROUND AREA. ... \ (> REMOVE EXISTING ROOF BEAMS TO ALLOW FOR 1'1 PAINTING AND SEALING. .ft REFRESH LANDSCAPING FACING FEDERAL mGHW A Y. ESTIMATED TIME LINE FOR COMPLETION: APRIL 17TH, 2010 -) ._ .Fm. ~ Body .W~d Fa"." ... N,. w,,, CD-r>'" Cl:.,~" (:lO3) 'U.J.\Jll :; Colonial Red Roof for Non-Brick: Preferred Scheme Roof - "Colonial Red" (by Englert) Wall- "Whole Wheat" Sherman Williams SW 6121 Wainscot - "Dapper Tan" Sherman Williams SW 6144 Frieze Board - "Arresting Auburn" Sherman Williams SW6034 Fascia Board - Wrap metal to match roof. ~) ~ r c ( .. (- r- ('- ,<~~:li~r"'""r~';"~'SII\1"'~-<'f"t\l.'~1~F~.~r--T~j'''';lffilI~"lt.~~'''''~''--~;,-,"olOl'-~"ljJlL~':!l!~";"./f~"4;.'M'''''~~1.....~~-.~.",l..~'''''''''',",~"'~<'~.1 '~i:'~f;l'ffti:""'lt;~~~~~~~~Xii;i;'\..~;~IliiiIiiw,.lnj;{l r 1~"""'''''''''''''_~'''Al;r,#IJ.$-'~,.~K:~kA::,,,,,,,'i!\,~"<:':;l~d;;.1olUJ.''~''';;ol'~,,,,,,.... VII. CONSENT AGENDA: E. Approval of Commercial Rent Subsidy Grant to Tsunami Subs & Wraps 1!~~~Y~T2~ eRA . East Side~West S'lde~Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I X I Consent Agenda I I Old Business I I New Business Legal Other SUBJECT: Commercial Rent Subsidy Program Grant award to Tsunami Subs & Wraps SUMMARY: At their January 12, 2010 meeting, the CRA Board approved the implementation of the Commercial Rent Subsidy Grant Application and Guidelines. The program provides eligible new or existing businesses with rent payment assistance for a maximum period of twelve months within the first eighteen months of a multi-year lease. The Commercial Rent Subsidy Program offers financial assistance in the form of rent payment subsidy for up to half of the business's monthly rent or $600.00 per month (whichever is less) for the first twelve months of a multi-year lease. The maximum total subsidy per business is $7,200.00. Tsunami Subs & Wraps is a new business to Boynton Beach located at Las Ventanas, 309 E. Woolbright Road. As owner of Tsunami Subs & Wraps, Frank Merlo has 26 years of experience in owning and operating sandwich shops and corporate franchises. Based on their application, Tsunami Subs & Wraps meets the eligibility requirements and all standards for financial risk assessment under program guidelines (see attached analysis). FISCAL IMPACT: Project Fund line item 02-58400 CRA PLAN, PROGRAM OR PROJECT: 2008 CRA Economic Development Plan RECOMMENDATIONS: Approve a Commercial Rent Subsidy Program Grant award up to $7,200.00 to Tsunami Subs & Wraps. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Rent Subsidy - Tsunami Subs & Wraps.doc Risk Analysis for Tsunami Subs & Wraps 85 40 34 60 38 22.8 Business Plan Score (50% of Total Score) 85 34 28.9 156.4 out of 200 possible 90 32 28.8 78.20% 70 29 20.3 80 27 21.6 Pro-Fonna 60 20 12 Net Income 90 25 22.5 Income 90 23 20.7 Profit Margin 100 15 15 Financials Score (50% of Total Score) Invent Tumonver 30 20 6 139.75 out of 200 possible Quick Ratio 50 15 7.5 69.88% Acid Test 40 17 6.8 Return on Assets 50 10 5 Current Ratio 90 20 18 Accounts Pa able Turnover 30 10 3 Worki C ital 95 15 14.25 Breakeven 90 10 9 Total Score 174.04% I Scale: 90% - 100% = Exceptionally Well 80% - 89.99% = Better than expected 70% - 79.99% = Strong Stability 60% - 69.99% = Stability 50% - 59.99% = Passing 40% - 49.99% = Some Uncertainty 30% - 39.99% = Uncertainty 20% - 29.99% = Problematic 10% -19.99% = Weakness 0% - 9.99% = Fault Risk Analysis,Rent Subsidy/Interior Build-Out, Food Bev, New, 2010 Pro-Forma Income Statement Taun...' ..bs & Wraps For 2010 thnMIgh 2013 (an n.......... In $000) REVENUE 2010 2011 2012 2013 Gross sales $630 $655 $681 $709 Less sales returns and allowances 0 0 0 0 Net Sales $630 $655 $681 $709 COST OF SALES Beginning inventory $8 $67 $121 $120 Plus goods purchased / manufactured 300 300 250 200 Total Goods Available $308 $367 $371 $320 Less ending inventory 67 121 120 64 Total Cost of Goods Sold $241 $246 $251 $256 Gross Profit (Loss) . $389 $409 $430 $453 OPERATING EXPENSES Selling Salaries and wages $64 $64 $68 $72 Commissions 0 0 0 0 Advertising 16 18 18 18 Depreciation 0 0 0 0 other 10 10 10 10 Total Selling Expenses $90 $92 $96 $100 General/Administrative Legal $4 $4 $4 $4 Employee benefits 0 0 0 0 Payroll taxes 10 10 10 11 Insurance 2 2 2 2 Rent 2 3 3 3 Utilities 2 2 2 3 Depreciation & amortization 8 8 8 8 Office supplies 1 1 1 1 Travel & entertainment 1 1 2 2 Postage 0 0 0 0 Equipment maintenance & rental 0 0 0 0 Interest 0 0 0 0 Furniture & equipment 0 0 0 0 Total General/Administrative Expenses $30 $30 $31 $33 Total Operating Expenses $119 $121 $127 $133 Net Income Before Taxes $270 $288 $304 $320 Taxes on income 40 43 46 48 Net Income After Taxes $229 $245 $258 $272 Extraordinary gain or loss $0 $0 $0 $0 Income tax on extraordinary gain 0 0 0 0 NET INCOME (LOSS) $229 $245 $258 $272 I ~~~qY~T8~lCRA _ East Side-West Side- Seaside Renaissance :lPp J'i , 'rJr 1010.(\,.. ~l ~;r 2009-2010 Boynton Beach Community Redevelopment Agency Commercial Rent Subsidy Program a:J& ptm The Commercial Rent Subsidy Program is designed to help facilitate the establishment of new businesses and aide in the expansion of existing businesses within the CRA District. The program is designed to provide financial assistance to new and existing businesses in the form of a rent subsidy intended to help businesses during the critical first year of operation. Prol!rarn The Commercial Rent Subsidy Pl'ogram offers financial assistance in the form of rent payment subsidy of for up to half of the business's monthly rent 01' $600.00 per month (whichever is less) for the first twelve months of a multi-year lease. The maximum total subsidy pel' business is $7,200.00. Commercial Rent Subsidy Program funding may be budgeted annually and awarded on a first- come, first-served basis. All applications are subject to CRA Board approval. Making application to the program is not a guarantee of funding. Elhdbilitv Reauirements Applicants must meet all of the following requirements in order to be considered eligible to receive grant funding under the Commercial Rent Subsidy Program: 1. The business must be located within the CRA District's Central Business Core, Fedeml Highway Corridor 01' Healt of Boynton areas (see attached map). 2. The business must be properly licensed to operate within the City of Boynton Beach and Palm Beach County. 3. A new business venture is defined as a company in operation for less than six months. 4. An existing business is defined as being in operation for more than three years at the time of application. 5. An existing business must expand to occupy more than fifty percent (50%) of its current square footage size. Verification of this threshold must be provided in the application package. 6. Applicant mllst own the building it plans to operate within or it must have an executed multi-year lease (two year minimum). 7. Businesses must employ a minimum of two (2) full-time equivalent W-2 or 1099 contracted employees whose wages are reported to the state and federal government; a Page 1 of 4 T:\PROGRAMS & GRANTS\Commercial Rent Subsidy Program\Approved Commercial Rent Subsidy Guidelines.doc position occupied by the business owner may count toward one of the required job positions. The following businesses will be considered automatically ineligible for assistance under the Commercial Rent Subsidy Program: a. Businesses that employ less than two full-time equivalent W-2 employees or 1099 contracted employees. b. Businesses who do not repOlt employees' wages to the State of Florida Department of Revenue. c. New businesses identified as a "convenience store" or "adult entertainment" use. d. New businesses using a D/B/A that has been used by another business within the past twelve (12) months. Grant Terms and Conditions A commercial lease must define the landlord-tenant relationship and at minimum provide the following information: . A description of the space being rented including square footage and a drawing of the space. . Description of utilities that the tenant is responsible for. . Rental rate and deposits along with terms of lease and methodology for future rent increases. . Responsible party for interior and exterior repairs and/or improvements. . Insurance requirements. . Conditions of Lease terminatation. . Consequences of default on the lease. Rent subsidies will not be paid until all construction has ended, occupational license is issued and the business in open for operation. The CRA will make monthly rent subsidy payments directly to the landlord in the amount of the approved grant. The responsibility for all rental payments is between the contracted parties to the lease, as such the tenant and the landlord. As grantor, the eRA neither bears nor accepts any responsibility for payment of rent at any time, nor penalties incurred for the late arrival of payments by any party. The Commercial Rent Subsidy program may only be used one time by anyone specific business entity or business owner Page 2 of 4 T:\PROGRAMS & GRAo.'\1TS\Commercial Rent Subsidy Program\Approved Commercial Rent Subsidy Guidelines.doc The CRA reserves the right to approve or deny any Commercial Rent Subsidy Program application and to discontinue payments at any time if in its sole and absolute discretion it determines that the business will not further the goals and objectives established for the economic development of the CRA District. The receipt of past payments is not a guarantee of future subsidy payments. Procedures for Application and Approval Application Process All applicants are strongly encouraged to meet with CRA staff in order to determine eligibility before submitting an application. Funding requests will not be considered until all required documentation is submitted to the CRA office. Application packets must include the following documentation: . Completed and signed application. .. Copy of all business and occupational licenses. .. Copy of the corporate documents for the applying business entity. . Copy of executed multi-year commercial lease agreement. · Landlord SSN or Tax ID. . Business plan, including executive summary and three-year financial projections of revenues and expenses. .. Two (2) years of audited financials and corporate tax returns (for existing businesses only). . Two (2) years of tax retums for the owners of a new business. " Qualifications, experience and track records of business owners. .. List of jobs to be created and filled including job descriptions, pay range and weekly schedule. For existing businesses, provide a list of all current positions including job descriptions, pay range and weekly schedule. Approval of Funding Request - Once eligibility is verified and all required documentation has been submitted, CRA staff will present the funding request to the CRA Board for approval. The CRA Board meets on the second Tuesday of each month and staff will notify the applicant and landlord of approval or denial in writing. Rent Subsidy Paymeuts - Rent Subsidy payments will begin at the beginning of the first full month that the business is open for operations subsequent to eRA Board approval. Payments will be mailed directly to the landlord on a monthly basis. A maximum of twelve (12) consecutive monthly payments may be made. Page 3 of4 T:\PROGRAMS & GRAt'lTS\Commercial Rent Subsidy Program\Approved Commercial Rent Subsidy Guidelines.doc Site Visits - eRA staff will conduct a site visit before subsidy payments begin in order to verify that the business is in operation. Staff may also conduct unannounced site visits periodically in order to ensure compliance with the terms of the grant agreement. Reporting - By accepting the grant, the applicant agrees to comply with the reporting requirement of providing the CRA with each quarterly Florida Department of Revenue Employers Quarterly Report (UCT-6) during the time period the subsidy payments are being made. Failure to provide the reports to the eRA within two weeks of the date they are submitted to the Department of Revenue will result in immediate disqualification fi.-om the Program. Discontinuation of Payment - The receipt of past payments is no guarantee of future payments. The CRA retains the right to discontinue rent subsidy payments at any time according to its sole and absolute discretion. Page 4 of 4 T:\PROGRAMS & GRANTS\Cornmercia\ Rent Subsidy Program\Approved Commercial Rent Subsidy Guidelines.doc ~~~qY~T8~'ICRA iI East Side-West SideNSeaside Renaissance 2009-2010 Boynton Beach Community Redevelopment Agency Commercial Rent Subsidy Program Application (please Type or Print Only - Use Additional Sheets if Necessary) Applicant Name: (\['(A.v\. k. l1~ e_\~ I 0 Applicant Mailing Address: '2/ :?'f Ft ~3Y0" <) Business Name (D/B/A if applicable): l..o-.s 0,-- I ,,or' 7 C"~'! ~:Z,/r)s Dp 1 R;.~ T- I~~~ LlJ,,'<,....[X V FtssA~dr;V~? g, WQQlkw)J. ~\I i~,ryV\)1: !5e&t(1~ h c... j 1- '/'70._ Q(' 5'-""" 'S-~ L..-' 2C ~L"~') ( Pone: ..J k2 _ L2-1-. (2 -1.d- Fax:;(,.r:;; I . 7 ) 7 - u. ~ .L-)& Email: Fed ID#,,').7'-oS Lt2-1 cZ / I) c..; 1,1/J.O~/LmS / '~7 :S( )\J\{;A...V~\ 1 Time at Location: Monthly Rent: Do you have an executed lease agreement: Yes~ No__ Landlord Name: ,LaV1? 1/1"'),'\'/'10,,\;\.<<,.-:, (j \f- t~~\/~1"... Landlord SSN/EIN: . (. Landlord's Mailing Address: ,:S.Y) C.,,:yyO\ I i rW\, rt-v f'.. A C'AAJ/\ .. L 'T-t) po-\('l< F= L ;;:;278 c; L.o J vV If j(- Was this business previously located at another site:Yes_,_, NoX. Dates: Previous Business Address (if applicable ): New Business: YesX No_ - ~ Type of Business: r on,\ Number of Employees: Lj-5 Existing Business: Yes_ No_ ~v/~:e.\ Hours of Operation: 9 .4Wl ..- i p~v\ Are you applying for grant assistance under any other program offered by the eRA: YesL ~o_/_ IfY~~'/~hat additional progmms are you applying for: +=O,L-O-\Al'? 0.o,-I,\JC. ____, Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 1 of 4 Are you receiving grant assistance from any other governmental agencies: Yes_ No~ If yes, list any aditional grant sources and amounts: CERTIFICATION AND WAIVER OF PRIVACY: I, the undersigned, applicant(s) certify that all information presented in this application, and all of the information furnished in support of the application, is given for the purpose of obtaining a grant under the Boynton Beach Community Redevelopment Agency Commercial Rent Subsidy Program, and it is true and complete to the best of the applicant(s) knowledge and belief. The applicant(s) further certifies that he/she is aware of the fact that he/she can be penalized by fine and/or imprisonment for making false statements or presenting false information. I understand that this application is not a guarantee of grant assistance. Should my application be approved, I understand that the CRA may at its sole discretion discontinue subsidy payments at any time if in its sole and absolute detelmination it feels such assistance no longer meets the program criteria or is no longer benefiting the furtherance of the CRA mission. I hereby waive my rights under the privacy and confidentiality provision act, and give my consent to the Boynton Beach Community Redevelopment Agency, its agents and contractors to examine any confidential information given herein. I further grant permission, and authorize any bank, employer or other public or private agency to disclose information deemed necessary to complete this application. I give permission to the CRA or its agents to take photos of myself and business to be used to promote the program. I understand that if this application and the infOl'ITIation furnished in support of the application are found to be incomplete, it will not be processed. .V :,"- y -/-,0 Date "l./ Printed Name ')( Applicant/Tenant's Signature Date Printed Name Title Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737.3256 Fax: 561-737-3258 Page 2 of 4 STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take acknowledgements, personally appeared ~ JL ~ tC\'\ , who is personally known to me or produced ~ L- as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is hislher act and deed. iN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this "1..y1... day of -A" ,., \ ,20~. ~,,,, 1ft 'I<< ~. "l. ,... _..._.... I \. nIV.......,. i. . i NotIIy PuIIIc . ... " ...... $~~ My COIHI. e..n. OcUO. 211' ~. c_..... " DO 137.. NOTARYP~tIC . , ~'~..j~ . .. y Commission Expires: . J 0 - .~O - ~O \J c;::o~ Property oWner's~i ature ,/} . . oIL. D . f<\VC- Printed Name 3/ Z'kll Date \J L r'f2 (=ks\ ~ ~ I Title Date Property Owner's Signature Printed Name Title STATE OF FLORIDA COUNTY OF lMLM DEACH O~ BEFORE ME, an officer duly authorized by law to administer oaths and take Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, Fi 33435 Office: 561-737-3256 Fax: 561.737-3258 Page 3 of4 acknowledgements. personally appeared ~~ IV.... . who is personallY known to~ or produced Pc-- as ~ identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FO~G, I have set my hand and official seal in the State and County aforesaid on this ~ day of~.I"-r J..... ,20lQ. ~,\\\,\\l"''''ill!. N ~""" a?,\NG ~/,;/, .~ ~<(..~\o.o...... ~ '~*'...':l..O~EXPIR~,/..>f ~ jf#/~CJ'.b,~012 \"'~ ::::0:;1(1)' ~e~ ::-,-o!::: # __ = :0 ~ ,0 r# e:tt= : ~~ ~~ _~.f:~:E ~.. tf;"> J;>.~:5:o~ ~ If-.... ~~.:s-;..~~ ~ ,,:.. Notal'i\'\l";..e..""l'~ ~ 'V'o..........~ -,,~ :1111. 'ARY ?U~\.\l ~\\~ ""'lltfmU\\\\\'t: Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737.3258 Page 4of4 "","""~-'.-~ri'~'.?j""--- -... "'-"~-"'"i!"""'~~",~ji''''~l,_,,,,,~",w'''''''''''iI!.1ioI.''''''_.''1 ,...~''''''.._,.__.......,.''~'''',.,~._''',,',''~,,_,.,. ..... VII. CONSENT AGENDA: F. Approval of Commercial Interior Build-out Grant to Doubleplay Media, Inc. ~~~ctY~Te~ eRA . East Side-West Side-Seaside Rena'lssance eRA BOARD MEETING OF: May 11,2010 I X I Consent Agenda I I Old Business I I New Business Legal Other SUBJECT: Commercial Interior Build-out Grant for Doubleplay Media, Inc. SUMMARY: Doubleplay Media, Inc. is relocating to 3330 South Federal Highway, Boynton Beach from 4733 West Altantic Avenue, Ste. C2, Delray Beach, FL. Doubleplay Media, Inc. is eligible for $15,000 in commercial interior construction/renovation grant assistance due to their intent to create four full-time employee (FTE) positions. Each FTE job created is worth $5,000 in funding assistance with a maximum grant award of$15,000. Doubleplay Media, Inc. has met and will exceed all standards for financial risk assessment; therefore, has an average chance of success (see attached analysis). Doubleplay Media, Inc. is an established five-year old online advertising agency. FISCAL IMP ACT: Project Fund Line Item 02-58400 CRA PLAN, PROGRAM OR PROJECT: 2008 eRA Economic Development Plan RECOMMENDATIONS: Approve a Commercial Interior Build-out Grant for Doubleplay Media, Inc. not to exceed $15,000. &, T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\lnterior Build-out - Doubleplay Media, Inc..doc Pro-Forma Income Statement Doubleplay Media Inc For 2010 through 2013 (all numbers in $000) REVENUE 2010 2011 2012 2013 Gross sales $2,259 $2,356 $2,458 $2,563 Less sales returns and allowances 388 $405 $422 $440 Net Sales $1,871 $1,952 $2,036 $2,123 COST OF SALES Beginning inventory $1,271 $1,262 $1.292 $1,321 Plus goods purchased / manufactured 1,300 1,330 1,361 1,393 Total Goods Available $2,571 $2,593 $2,653 $2,714 Less ending inventory 1,262 1,292 1,321 1,352 Total Cost of Goods Sold $1,309 $1,301 $1,331 $1,362 Gross Profit (Loss) $562 $650 $704 $761 OPERATING EXPENSES Selling Salaries and wages $138 $141 $144 $148 Commissions 0 0 0 0 Advertising 10 15 20 25 Depreciation 44 40 36 32 Auto Expense 30 35 40 45 Total Selling Expenses $222 $231 $240 $250 General/Administrative Legal & Accounting $25 $26 $26 $27 Technologies 4 5 5 6 Payroll taxes 2 3 3 4 Insurance 30 31 32 33 Rent 3 3 3 3 Utilities 5 5 5 5 Depreciation & amortization 3 4 4 5 Office supplies 1 1 1 Travel & entertainment 25 27 30 33 Postage 2 3 - 4 Equipment maintenance & rental 5 6 6 ( Interest 10 9 .s 7 Furniture & equipment 7 8 8 9 Total General/Administrative Expenses $122 $131 $134 $144 Total Operating Expenses $344 $362 $374 $394 Net Income Before Taxes $219 $289 $330 $367 Taxes on income 11 14 17 18 Net Income After Taxes $208 $274 $314 $349 Extraordinary gain or loss $0 $0 $43 $0 Income tax on extraordinary gain 0 0 12 0 NET INCOME (LOSS) $208 $274 $345 $349 Risk Analysis for Doubleplay Media Inc. 95 40 38 70 38 26.6 Business Plan Score (50% of Total Score) 90 34 30.6 178.95 out of 200 possible 100 32 32 89.48% 90 29. 26.1 95 27 25.65 Pi Pro-Forma 75 20 15 Net Income 80 25 20 o erating Income 80 23 18.4 Profit Margin 75 15 11.25 Financials Score (50% of Total Score) Lon Term Solvency 40 15 6 123.6 out of 200 possible Debt Ratio 20 20 4 61.80% De ree of Operating Leverage 85 17 14.45 Return on Assets 80 10 8 Current Ratio 20 20 4 Accounts Pa able Turnover 90 10 9 Working Capital 30 15 4.5 r keven 90 10 9 Total Score I 75.64% I Scale: 90% - 100% = Exceptionally Well 80% - 89.99% = Better than expected 70% - 79.99% = Strong Stability 60% - 69.99% = Stability 50% - 59.99% = Passing 40% - 49.99% = Some Uncertainty 30% - 39.99% = Uncertainty 20% - 29.99% = Problematic 10% -19.99% = Weakness 0% - 9.99% = Fault Risk Analysis, Rent Subsidy, Existing Business, Service, 2010 ~~~qY~T8~ICRA _ East Side-West Side-SeaSide Renaissance 2009-2010 Boynton Beach Community Redevelopment Agency Commercial Interior Build-out Assistance Program The Commercial Interior Build-out Assistance Program is designed to help facilitate the establishment of new businesses and aide in the expansion of existing businesses within the CRA district. The program is designed to provide financial assistance to new and existing businesses in the form of a subsidy intended to reduce a business's initial cosfs associated with the construction and interior finishing of a new or expanding location. Applicants may be eligible for up to $15,000 to assist with the cost of commercial interior construction or renovations. The amount of funding is determined by the number of jobs created by the applicant. Each full-time equivalent job created is wOlth $5,000.00 in funding assistance from the CRA with a maximum grant award of$15,000. Businesses applying for financial assistance with the cost of interior build out must receive City of Boynton Beach Development Department and Building Depaltment building permit approval. Pr02ram The Commercial Interior Build-out Program offers financial assistance in the form of a reimbursable grant to the landlord or business owner for eligible expenses associated with the construction or renovation of the interior elements of the operating space. Items eligible for funding under the program are limited to: 1. Interior walls 2. Interior plumbing 3. Interior electrical system including lighting 4. HV AC system 5. Flool'ing The Commercial Interior Build-out Program funding may be budgeted annually and awarded on a first-come, first-served basis. All applications are subject to CRA Board approval. Making application to the program is not a guarantee of funding. ElhtilJilitv Reauirements Applicants must meet all of the fan owing requirements in order to be considered eligible to receive grant funding under the Commercial Interior Build-out Program: 1. The business must be located within the CRA District's Central Business Core, Federal Highway Corridor or Heart of Boynton areas (see attached map). 2. The business must be properly licensed to operate within the City of Boynton Beach and Palm Beach County. Pagelof4 T:\PROGRAMS &. GRANTS\Commercial Interior Build-out Assistance Prograln\ApplOved Interior Build-out Assistance Program Guidelines.doc 3. A new business venture is defined as a company in operation for less than six months. 4. An existing business is defined as being in operation for a minimum of three years at the time of application. 5. An existing business must expand to occupy more than fifty percent (50%) of its current square footage size. Verification of this threshold must be provided in the application package. 6. Applicant must own the building it plans to operate within or it must have an executed multi-year lease (two year minimum). 7. Businesses must employ a minimum of, two (2) full-time equivalent W-2 employees or 1099 contracted employees whose wages are reported to the state and federal government; a position occupied by the business owner may count toward one of the required job positions. The following businesses will be considered automatically ineligible for assistance under the Commercial Interior Build-out Program: a. Businesses that employs less than two full-time equivalent W-2 employees or 1099 contracted employees. b. Businesses who do not report employee's wages to the State of Florida Department of Revenue. c. New businesses identified as a "convenience store" or "adult entertainment" use. d. New businesses using a D/B/A that has been used by another business within the past twelve (12) months. Grant Terms and COlllditiOltls A commercial lease must define the landlord-tenant relationship and at minimum provide the following information: o A description of the space being rented including square footage and a drawing of the space. o Description of utilities that the tenant is responsible for. o Rental rate and deposits along with terms of lease and methodology for future rent increases. o Responsible party for interior and exterior repairs and/or improvements. e Insurance requirements. o Ability to terminate. o Consequences of default on the lease. Page 2 of 4 T:\PROGRAMS & GRANTS\Commercial Interior Build-out Assistance Program\Approved Interior Build-out Assistance Program Guidelines.doc The CRA reserves the right to approve or deny any Commercial Interior Build-out Program application and to discontinue payments at any time if in its sole and absolute discretion it determines that the business will not further the goals and objectives established for the economic development of the CRA District. Procedures for Application and Approval AlPpllication Process - All applicants are strongly encouraged to meet with CRA staff in order to determine eligibility before submitting an application. Funding requests will not be considered until all required documentation is submitted to the CRA office. Application packets must include the following documentation: o Completed and signed application. o Copy of all business and occupational licenses. Q Copy of the corporate documents for the applying business entity. Q Copy of executed multi-year commercial lease agreement. Q Landlord SSN or Tax ID. o Business plan, including executive summary and three-year financial projections of revenues and expenses. Q Two (2) years of audited financials and corporate tax returns (for existing businesses only). Q Two (2) years of tax returns for the owners of a new business. o Qualifications, experience and track records of business owners. o Copy of design and construction plans associated with the proposed improvements. o List of jobs to be created and filled including job descriptions, pay range and weekly schedule. For existing businesses, provide a list of all current positions including job descriptions, pay range and weekly schedule. ApPltovaI of JFnmcHlIlg Request - Once eligibility is verified and all required documentation has been submitted, CRA staff will present the funding request to the CRA Board for approval. The CRA Board meets on the second Tuesday of each month and staff will notify the applicant and landlord of approval or denial in writing. Site Visits - eRA staff will conduct a site visit before the reimbursement payment is made in order to verify that the business is in operation. Staff may also conduct unannounced site visits periodically in order to ensure compliance with the terms of the grant agreement. Expense Reimbursement - This program is designed as a reimbursement grant. That is, all work must be done and paid for by the Applicant, prior to the eRA's funds being released. The Page 3 of4 T:\PROGRAMS & GRANTS\Commercial Interior Build-out Assistance Prograrn\Approved Interior Build-out Assistance Program Guidelines.doc CRA will provide reimbursement to the grantee upon submittal of a complete Reimbursement Request package. The property owner, or tenant if applicable, must complete the interior improvement project, obtain a Certificate of Occupancy (CO) from the City of Boynton Beach and submit for reimbursement within 180 days of the grant award. Failure to complete the improvements within the specified timeframe will result in the property owner, or tenant if applicable, losing the grant reimbursement opportunity. The Board may consider time extensions. Reimbursement Request shall be summarized in a report and accompanied by proper documentation. Proper documentation will consist of: (1) Project accounting including invoices, receipts or other acceptable evidence of payment from suppliers and licensed contractor(s) that have been marked "paid" with a "release of lien" signed by each. Proposals for "work to be completed" or "bids" are not considered proper documentation. Each item will be supported by a canceled check showing the face of the check, as well as the back of the canceled check, (2) Applicant shall warrant that all bills related to the Project are paid in full including, but not limited to, all contractors, subcontracts, labor, materials, related fees and permits, and (3) Application for reimbursement shall provide a mlmmum of four 3"x5" color "during" photos and a minimum of four 3"x5" color "after" photos of the Project. Photos should be from approximately the same position as the "before" photos submitted in the Application and the "during" photos. Grant funds will be reimbursed exclusively for approved work, approved change orders and only for work that has been performed after the grantee has received notification that the Grant Application has been approved by the CRA. Any work completed prior to receiving grant approval is ineligible for reimbursement. Grantees may not submit work improvements for reimbursement which have been used as reimbursement requests in any other grant program offered by the CRA, City, Palm Beach County or the State of Florida. The Commercial Interior Build-out Assistance program will only honor new expenditures that have not been submitted under other grant programs. The Commercial Interior Build-out Assistance program may only be used one time in any five year period for anyone specific commercial unit or business entity. Businesses are limited to one Commercial Interior Build-out Assistance Program award. Grantees shall allow the eRA the rights and use of photos and project application materials. Reporting - By accepting the grant, the applicant agrees to comply with the reporting requirement of providing the CRA with each quarterly Florida Department of Revenue Employers Quarterly Report (UCT-6) during the two years following completion of the project to verify that the required job positions are properly filled and maintained. Page 4 of 4 T:\PROGRAMS & GRANTS\Commercial Interior Build-out Assistance Program\Approved Interior Build-out Assistance Program Guidelines.doc ~~<tY~T8~lCRA Ii East Side-West SideN Seaslde RenaISsance /6<' [ 2009-2010 Boynton Beach Community Redevelopment Agency Commercial Interior Build-out Program Application C9~' (please Type or Print Only - Use Additional Sheets if Necessary) Applicant Name: C~(""ej G,\elL-\-)e{\~v<-- Applicant Mailing Address: /..(733 c.v. A+lCot.f\-+\{ Ave. s~ cO! De I OA,,/ "'Be... ~ I F L -=?3l-t Lj S ------- Business Name (D/B/A ifapplicable):~\e ~\(A1 _ n t7~1 A I ::If\r -_._----_._---~--_...._----_.__.-._"-"._._-_.._--_. ----_.~. -.- -- ..----- ---- Business Address: 473~ w. M'~()+\L Avoe.- s-k C-::< 'De- \N.A.,/ 1?>r \--., FL. 3'34'-1 S-_________n Phone: S-~\ 4g ~ 5Qoo 1.116 Fax: S0\ LJcl~ ~ocA Email:CoreJ{(i~.)Vble--PI~'yMe'bIA'LDrn Fed ID# 5'- \-. OLi5)c::>qG~~ _ ___ Time at Location: S- 'Ie/Hi. <:; Monthly Rent: I '-t 0.24. 00 Do you have an executed lease agreement: Yes_ No_ Landlord Name: j\J,~-e1 "Deve.Jop1"t\enf. ]:.r)c- Landlord SSNIEIN: Landlord's Mailing Address: a ode S Fei)~?-IL...1 J.I""'j\,,/ 5~ cJo \. o"3:>t r1tO/l "& h F L ,<: S f..t 3 ')-- Was this business previously located at another site:Yes~ No Dates: .:2003- oq Previous Business Address (if applicable): Sqo -Je-C-~(Jol\ \::>r" Sk.I Dl.-/ lY~Rr..\', e J"Q '5c-h I FL- 3344;;)" New Business: Yes_ No..2c- Existing Business: YesK.. No_ Type of Business: On\,f),G ~r.J-i~J 1'1 J f}'fnt" ,-I I Number of Employees: Lj- S- Hours of Operation: qflm ~ C;'P/Ti n- F Are you applying for grant assistance under any other program offered by the eRA: YesK No If yes, what. additional proarams are you a~plying for: ~merL Ie- \ llef')-t ~L>'b":l\ \)'-1 --Pro:r~('Y'\ I Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page ] of 4 Are you receiving grant assistance from any other governmental agencies: Yes_ NoK. If yes, list any aditional grant sources and amounts: CERTIFICATION AND WAIVER OF PRIVACY: I, the undersigned, applicant(s) certify that all information presented in this application, and all of the information furnished in support of the application, is given for the purpose of obtaining a grant under the Boynton Beach Community Redevelopment Agency Commercial Interior Build- out Program, and it is true and complete to the best of the applicant(s) knowledge and belief. The applicant(s) further certifies that he/she is aware of the fact that he/she can be penalized by fine and/or imprisonment for making false statements or presenting false information. I further acknowledge that I have read and understand the terms and conditions set forth and described in the Boynton Beach Community Redevelopment Agency Commercial Interior Build-out Program Guidelines. I understand that this application is not a guarantee of grant assistance. Should my application be approved, I understand that the CRA may at its sole discretion discontinue subsidy payments at any time if in its sole and absolute determination it feels such assistance no longer meets the program criteria or is no longer benefiting the furtherance of the CRA mission. I hereby waive my rights under the privacy and confidentiality provision act, and give my consent to the Boynton Beach Community Redevelopment Agency, its agents and contractors to examine any confidential information given herein. I further grant permission, and authorize any bank, employer or other public or private agency to disclose information deemed necessary to complete this application. I give permission to the CRA or its agents to take photos of myself and business to be used to promote the program. I understand that if this application and the information furnished in support of the application is found to be incomplete, it will not be processed. G~ ~~~--r~ Applic enant's Signature = G\.eic-he/\~u5\ Printed e At!:~~~ 3o~L~iCh~N'nCH)~ Printed Name 9-~s- Ie) Date )J09~ I "b--errt- ) LE 0 Title f z..r- / tJ Date V? Title Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 2 of 4 STATE OF FLORIDA COUNTY OF PALM BEACH ke . I ~hen hili1S IN WITNESS OF 1HE FO~ I hav~ rd and official A<"l in the State and County aforesaid on this day of 1 , 20 ill. 1'L~ QD<;~.- CO~d5'~IOI-7{g-1 Od-Q DLt-RO~-GLl~77g- 7CJ-DSlo-O N ARYPUB Date Printed Name Title Property Owner's Signature Date Printed Name Title STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and tak Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 3 of4 ST ATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly author~ by law to administer oaths and take acknowledgements ersonally appeared I C"'~~L W ~ I~ A,..) C-~ , who is sonally know 0 me or produced as identification, an acknowledged he/she executed the fOl'egoing Agreement fol' the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FOREGOING, 1 haVe~py hand and official seal in the State and County aforesaid on this 2L -c'" day of iLl l. , 2010 . NOTARYP ~ IJ€~~~ Not<lrv Public Stele of Fle>i "."" { >;; C,",,' Bruce A Carlson ,. ; :'t:.; My Commission DD678%';'. .,~ Of f'.o"F EXpires OS/28/2011 My CommiSSl : - -~ - YJ ~~ ~ /1---- Property Owner's Signature fiL.l-biI!L tJ. 1-1t4.Jl...o~ Printed Name '1/zb/20/0 I Date ~1..JGlfJ /Ir'- Title 4/'- Property Owner's Signature !1".Ntff:,'t.. fAll tJri,vL~ Printed Name lI/'l1D /~/O / Dati ~,J L,IUS L Title STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an offrcer duly authorized by law to administer oaths and take Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 3 of 4 ersonallyappeared H,Ct-lt1-L 0. j/ti,Jl.o^, who is rsonally known me or produced ____.--- identification, an ac owledged he/she executed the foregoing Agreement for the use purposes mentioned in it and that the instmment is his/her act and deed. U~, as and IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this 2b 7'1IIt day of -.ltflh L , 20 10 . ..r~_'~:"/j'\. ~"'I...J"'~ {>-;,.~~r.,~ NO ~~..~U~;U~l' H, ,-", ')~Id; ~ ~ ~ Bruce r.... ( ,- ~.:.. ~ MyCo(1"'r '.C, 'C'h"~""'~ '9~ OF~ f\.O~ Expires fJ I My '~S1""j!" ,', /3 A !~\ ~. - I"~ It-C":;"~)/~ Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561~737.3256 Fax: 561-737-3258 Page 4 of 4 1~tll:::"Jl!.il::M~"~~I't.w.r"?"1"",,/ '<i\;-"_13ID>!k""".''''_ '''''i>r.:t;c;. ~.,j;'2f.t'-"""~"~~a'~';::.i~'.Wi~;,ii&'!;.,J~"""""'j""Jl~''Ocl,.,d,,,,':,ii;i~i'i'-" ,j....' ,,",'-. ',.,. "~~""";"'_p:"f:i~~-'~""*r ~~-''';",~ ""w't'-'r~,~,~o.-..;.io.~~""'*"'j''''''''''''''>~~Li<h,jo~;.t",j".o;.;.,~~, VII. CONSENT AGENDA: G. Approval of Commercial Rent Subsidy Grant to Doubleplay Media, Inc. I ,c. 'j~...);<" c, I~~, " r . 1IJ~~~Y~Te~ eRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I X I Consent Agenda I I Old Business I I New Business Legal I Other SUBJECT: Commercial Rent Subsidy Program Grant award for Doubleplay Media, Inc. SUMMARY: The Commercial Rent Subsidy Grant Application and Guidelines provide eligible new or existing businesses with rent payment assistance for a maximum period of twelve months within the first eighteen months of a multi-year lease. The Commercial Rent Subsidy Program offers financial assistance in the form of rent payment subsidy for up to half of the business's monthly rent or $600.00 per month (whichever is less) for the first twelve months of a multi-year lease. The maximum total subsidy per business is $7,200.00. Doubleplay Media, Inc. is an established online advertising agency relocating to 3330 South Federal Highway, Boynton Beach from 4733 West Atlantic Avenue, Ste. C2, Delray Beach, FL. Doubleplay Media, Inc. meets the eligibility requirements and all standards for financial risk assessment under program guidelines (see attached analysis). FISCAL IMPACT: Project Fund Budget Line Item 02-58400 CRA PLAN, PROGRAM OR PROJECT: 2008 CRA Economic Development Plan RECOMMENDATIONS: Approve a Commercial Rent Subsidy Program Grant award Doubleplay Media, Inc. not to exceed $7,200.00. ci~ ~'~t Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Rent Subsidy - Doubleplay Media, Inc..doc Pro-Forma Income Statement Doubleplay Media Inc For 2010 through 2013 (all numbers in $000) REVENUE 2010 2011 2012 2013 Gross sales $2,259 $2,356 $2,458 $2,563 Less sales returns and allowances 388 $405 $422 $440 Net Sales $1,871 $1,952 $2,036 $2,123 COST OF SALES Beginning inventory $1,271 $1,262 $1,292 $1,321 Plus goods purchased I manufactured 1,300 1,330 1,361 1,393 Total Goods Available $2,571 $2,593 $2,653 $2,714 Less ending inventory 1,262 1,292 1,321 1,352 Total Cost of Goods Sold $1,309 $1,301 $1.331 $1,362 Gross Profit (Loss) $562 $650 $704 $761 OPERATING EXPENSES Selling Salaries and wages $138 $141 $144 $148 Commissions 0 0 0 0 Advertising 10 15 20 25 Depreciation 44 40 36 32 Auto Expense 30 35 40 45 Total Selling Expenses $222 $231 $240 $250 General! Adm i nistrative Legal & Accounting $25 $26 $26 $27 Technologies 4 5 5 6 Payroll taxes 2 3 3 4 Insurance 30 31 32 33 Rent 3 3 J 3 Utilities 5 5 5 5 Depreciation & amortization 3 4 4 5 Office supplies 1 1 Travel & entertainment 25 27 30 33 Postage 2 3 ,.., 4 " Equipment maintenance & rental 5 6 6 7 Interest 10 9 " c) Furniture & equipment 7 8 8 9 Total General/Administrative Expenses $122 $131 $134 $144 Total Operating Expenses $344 $362 $374 $394 Net Income Before Taxes $219 $289 $330 $367 Taxes on income 11 14 17 18 Net Income After Taxes $208 $274 $314 $349 Extraordinary gain or loss $0 $0 $43 $0 Income tax on extraordinary gain 0 0 12 0 NET INCOME (LOSS) $208 $274 $345 $349 Risk Analysis for Doubleplay Media Inc. 95 40 38 70 38 26.6 Business Plan Score (50% of Total Score) 90 34 30.6 178.95 out of 200 possible 100 32 32 89.48% 90 29. 26.1 95 27 25.65 75 20 15 80 25 20 80 23 18.4 75 15 11.25 Financials Score (50% of Total Score) 40 15 6 123.6 out of 200 possible 20 20 4 61.80% Leverage 85 17 14.45 80 10 8 20 20 4 90 10 9 30 15 4.5 90 10 9 Total Score I 75.640/0 I Scale: 90% - 100% = Exceptionally Well 80% - 89.99% = Better than expected 70% - 79.99% = Strong Stability 60% - 69.99% = Stability 50% - 59.99% = Passing 40% - 49.99% = Some Uncertainty 30% - 39.99% = Uncertainty 20% - 29.99% = Problematic 10% - 19.99% = Weakness 0% - 9.99% = Fault Risk Analysis,Rent Subsidy, Existing Business, Service, 2010 .~:,k. . ... \!Y:' 'f" :\ ,: IIRY~~tCRA II East Side- West Side-Seaside Renaissance 2009-2010 Baynton Beach Community Redevelopment Agency Commercial Rent Subsidy Progl'am The Comm.ercial Rent Subsidy Program is designed to help facilitate the establislunent of new businesses and aide in the expansion of existing businesses within the CRA District. The progralll is designed to provide fInancial assistance to new and existing businesses in the form of a rent subsrdy intended to help businesses during the critical first year of operation. PrOlfl"am The COlllll,lercial Rent Sqbsidy Program offers financial assistance in the fonn of rent payment subsidy offol' up to half oftlie business's monthly rent or $600.00 per month (whichever is less) for the first twelve tnOl1ths of a nmlti-yeal' lease. The maximum total subsidy per busmess is $7.260.00. Commercial Rent Subsidy Program funding may be budgeted annually and awarded on a first- come, frrst-served basis. All applications are subject to CRA Board approval. Making application to the program is not a guarantee of funding. EIiltibility ReQuti..ements AppliCants nltlst rtleet all of the following requirements in order to be considered eligible to receive grant funding under the Commercial Rent Subsidy Pl'ogram: 1. The business nmst be located within the CRA District's Central Business Core, Federal Highway Corridor or Heart of BdYllton areas (see attached map). 2. The business must be properly licensed to operate within the City of Boynton Beach and Palm. Beach Co'Unty. 3. A new business venture is defined as a company in operation for less than six months. 4. An existing business is defmed as being ill operation for more than tlu'ee yem:s at the time of application. 5. An existulg business must expand to occtlpymore than fifty percent (50%) of its ounent square footage size. Verification of this threshold must be provided in the application package. 6. Applicant must own the building it plans to operate within or it must have an executed multi-year lease (two year lniI1;.mum). 7. Businesses must employ a minimum of two (2) full~tinle equivalent W-2 or 1099 contracted employees whose wages are reported to the state and federal goverrunent; a Page 10f4 T:'PROGRAMS & GRANTS\C{lmmC'rcinIRmt SUllSidy ProgrtllmApproveil ComlMrcial Renl &Ibsidy Gllidelin~.doc position occupied by the business ownel' may count toward one of the required job positions. The following businesses will be considered automatically ineligible for assistance under the Commercial Rent Subsidy Program: a. Businesses that employ less than two full-time equivalent W-2 employees or 1099 contracted employees. b. Businesses who do not repOlt employees' wages to the State of Florida Department of Revenue. c. New businesses identified as a "convenience store" or "adult entertainment" use. d. New businesses using a DfB! A that has been used by another business within the past twelve (12) months. Grant Terms and Conditions A commercial lease must define the landlord-tenant relationship and at minimmn provide the following information: o A description of the space being rented including square footage and a drawing of the space. Q Description of utilities that the tenant is responsible for. o Rental rate and deposits along with tetnlS of lease and methodology for future rent increases. o Responsible party for interior and exterior repairs and/or improvements. o Insurance requirements. o Conditions of Lease termination. l:) Consequences of default on the lease. Rent subsidies will not be paid until all construction has ended, occupational license is issued and the business in open for operation. The CRA will issue reimbursement to the applicant directly for the monthly rent payment made to the Landlord upon receipt and verification that the payment as been cleared by the bank. The responsibility for all rental payments is between the contracted parties to the lease, as such the tenant and the landlord. As grantor, the CRA neither bears nor accepts any responsibility for payment of rent at any time, nor penalties incurred for the late alTival of payments by any patty. The Commercial Rent Subsidy program may only be used one time by anyone specific business entity or business owner Page 2 of4 T:\PROGRAMS & GRANTS\Commercial Rent Subsidy Program\Approved Commercial Rent Subsidy Guidelines.doc The CRA reserves the right to approve or deny any Commercial Rent Subsidy Program application and to discontinue payments at any time if in its sole and absolute discretion it determines that the business will not fUl1her the goals and objectives established for the economic development of the CRA District. The receipt of past payments is not a guarantee of future subsidy payments. Procedures for Apulication and Apuroval Application Process All applicants are strongly encouraged to meet with eRA staff in order to determine eligibility before submitting an application. Funding requests will not be considered until all required documentation is submitted to the CRA office. Application packets must include the following documentation: o Completed and signed application. o Copy of all business and occupational licenses. o Copy of the corporate documents for the applying business entity. o Copy of executed multi-year commercial lease agreement. o Landlord SSN or Tax ID. o Business plan, including executive summary and three-year financial projections of revenues and expenses. o Two (2) years of audited financials and corporate tax retUl11S (for existing businesses only). o Two (2) years of tax returns for the owners of a Dew business. o Qualifications, experience and track records of business owners. o List of jobs to be created and filled including job descriptions, pay range and weekly schedule. For existing businesses, provide a list of all cunent positions including job descriptions, pay range and weekly schedule. Approval of Funding Request - Once eligibility is verified and all required documentation has been submitted, CRA staff will present the funding request to the CRA Board for approval. The eRA Board meets on the second Tuesday of each month and staff will notify the applicant and landlord of approval or denial in writing. Rent Subsidy Payments - Rent Subsidy payments will begin at the beginning of the first full month that the business is open for operations subsequent to CRA Board approval. A maximum of twelve (12) consecutive monthly rent payments will be reimbursed to the approved applicant. Page 3 of4 T:\PROGRAMS & GRANTS\Commercial Rent Subsidy Program\Approvcd CommerciRI Rent Subsidy Guidelines.doc Site Visits - CRA staff will conduct a site visit before subsidy payments begin in order to verify that the business is in operation. Staff may also conduct unannounced site visits peliodically in order to ensure compliance with the terms of the grant agreement. Reporting - By accepting the grant, the applicant agrees to comply with the repOlting requirement of providing the CRA with each quarterly Florida Department of Revenue Employers Quarterly Report (UCT-6) during the time period the subsidy payments are being made. Failure to provide the reports to the CRA within two weeks of the date they are submitted to the Department of Revenue will result in immediate disqualification from the Program. Discontinuation of Payment - The receipt of past payments is no guarantee of future payments. The CRA retains the right to discontinue rent subsidy payments at any time according to its sole and absolute discretion. Page 4 of4 T:\PROGRAMS & GRANTS\Commercial Rent Subsidy Program\Approved Commercial Rent Subsidy Guidelines.doc .d I .., f,., ~~~~Y~T8~ICRA ill East SideNWest SldeNSeaside Renaissance 2009-201 () Boynton Beach Community Redevelopment Agency Commercial Rent Subsidy Pl'og.'am Application I (i)'-J (Please Ty\)c or Print Only - Use Additional Sheets if Necessary) "\ Applicant Name: {_'or-e:J ~\e Ie.. ""1"" ~{'..t..c..)s. __ Applicant Mailing Address: '-1733 W. A+1&f/\tl~ 19~ _ _ SJc_~_______ "De/aA.y '&h I 'F l _ 33L1l; 5-__ Business Name (D/B/A if applicable): --bouh\er\)\Cly_~1 &b.Ltt, XJ')c _L_______. Business Address: '-I 733 w. /J-J11A11J,c- /lve . S k C.;( .vel r?LY "Bc..~ I r L- 3344 S- ._ ___._.._.... Phone: 5(;1 49<0 590D x/I~ Fax:.__;>c,.1 I.jq'ir: ?S-uoq ____ Email:('~jt(\~~\-e.V\~1' n~UIA .C-Q"Y} Fed 10# Sj-6t.Jt-bQ6'L Time at Location: S ytfliLS___ Monthly Rent! 'to ~__~___~~ Do you have an executed lease agreement: Yes_ No_. Landlord Name: "I,~-e. \b-eve.\o):)mery-t \ __J:"A.:>t-,-___ Landlord SSN/EIN: :J r; --;2.2-/ ')~7'~-- 3:, Landlord's Mailing Address: 3530 S Fr-Den-.\ --TC:::;--- -- ~--~__ - ---_~___~~L2:1:Q:r) Be-\'-, r-: L g~ it 3 s Was this business previously located at another site:YesX___ No____ Dates: ~OC .~-.;l ()O~ :r~V~~~l~~~~~n~_~ ~d~~~~ (if~PliCable): D~~~\:;~+ t~~~~b~344;~ _~~~___ New Business: Yes No).c-- Existing Business: Ye~_ No_ Type of Business: Ov\lIv8 ~veM\~)\ n~ Ac:J-etv .'j ~_ Number of Employees: 4 - S.. Hours of Operation: 9.Atl_ =- C7f-'"1 M -- F Are you applying for grant assistance under any other program offered by the eRA: Yes '."/: No_ If yes, what additional programs are you app~il1g for: ~"nmEi2c..\ AL .M.Ieno:z O(:a\~ -0(.'-\ Jl~c.. r'}L.c-. "Pro Eln:A.-fV1 Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 56] -737-3256 Fax; 561-737-3258 Page 1 of4 Are you receiving grant assistance from any other governmental agencies: Yes_ NoX If yes, list any aditional grant sources and amounts: CERTIFICATION AND WAIVER OF PRIVACY: I, the undersigned, applicant(s) certify that all infOlTI1ation presented in this application, and all of the information furnished in support of the application, is given for the purpose of obtaining a grant under the Boynton Beach Community Redevelopment Agency Commercial Rent Subsidy Program, and it is hue and complete to the best of the applicant(s) knowledge and belief. The applicant(s) fmiher certifies that he/she is aware of the fact that he/she can be penalized by fine and/or imprisonment for making false statements or presenting false information. I understand that this application is not a guarantee of grant assistance. Should my application be approved, I understand that the CRA may at its sole discretion discontinue subsidy payments at any time if in its sole and absolute determination it feels such assistance no longer meets the program criteria or is no longer benefiting the furtherance ofthe CRA mission. I hereby waive my rights under the privacy and confidentiality provision act, and give my consent to the Boynton Beach Community Redevelopment Agency, its agents and contractors to examine any confidential infOlmation given herein. I further grant pelmission, and authorize any bank, employer or other public or private agency to disclose information deemed necessary to complete this application. I give permission to the CRA or its agents to take photos of myself and business to be used to promote the program. I understand that if this application and the infOlmation furnished in support of the application are found to be incomplete, it will not be processed. ~b~ Applic enant's Signature G--e.:J; ~ \-C IC.h en'n:ws Printed N r-;<l- ';<010 Date /PreS\~EN7 /CEO Title . f2/-' l.DIO Date VP Title Applicant/Tenant's e Jo be (L t G '.p i t hop" J hCt v--5 Printed Name Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 2 of 4 STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly au orized take acknowledgements, personally appeared who is personally known to me 0 produ as identifica.tion, and acknowledged he/s eel the foregoing Agreement for the use and purposes mentioned in it and that the instrument is hislher act and deed. IN WITNESS OF THE FOREGOING, I have set if hand and official ~eal in the State and County aforesaid on this J. , day of ,,~ ' 20 JJ,2. j::tJr ~~- 0q;)5 - 10/-70 -IDa-O DL~ R~bt*-G~~--rr1GL7" -1J =IT I 'PU- ., N 'Ii Y PUBLIC " ........ Property Date Printed Name Title Property Owner's Signature Printed Name ST ATE OF FLORIDA COUNTY OF PALM BEACH .."~ ~ BEFORE ME, an officer duly authorized by law to administer oaths and take Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 3 of4 STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to a inister oaths and take acknowledgements.~y appeared "CL. V. ArJLOI\J who is ~allxJwo>>,lR-.-lo me or pro uced as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this 2.bTtt day of At,.,... ,20&. NO V"^.,....~. V~IG "'cOilc' Stlli~ Wf Fionua . '. Bruce fJ.. C~rI$on ~"'- ..; My COf"!!ir"SSluI1 OD67BaS4 ~OF ,,0 Exp,res 05;28/2(, j 1 My 0 1 SO. ~H0-- 41'--- Property Owner's Signature /11(::'1119 (L W. jltlj,.Jtv^, Printed Name lJ/z,j'Z"O/o I II Date :Fk.,..JC.. p~ L. Title ",1", /~ 0 Date I ~.Nl.(JtH_ Title Prope Owner's Signature M'~€L (/. JIA~toN Printed Name STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorized by law to administer oaths and take Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 3 of 4 aCkn06emen~ pe~ppeared J'1,~IlIlliL c.J. IlIl.-JLo..J who' ersonall kno me or produced as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is hislher act and deed. IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this 26""" day of Ap~,L.. .,20 '0 . My Co~slOn xplres: ., / /" ,'I 6 j I~~?ltt?t.-{ Itt L;:;~('-'-' ."~ t...-<" ""-.., I ^r? > ''\. Notary Public Stat€ of Florida .. Bruce A Carlson <: My Commission 00678884 S Expires 06/28/201 i NOTARY P Boynton Beach Community Redevelopment Agency 915 S. Federal Highway, Boynton Beach, FL 33435 Office: 561-737-3256 Fax: 561-737-3258 Page 4 of 4 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 I. Splashdown Divers, Inc. Commercial Lease Renewal Mike Simon, Development Director, explained the item was pulled at the request of Lynn Simmons, the owner of the Splashdown Dive Shop. She would like to discuss some items with the Board regarding the lease. Ms. Simmons was a tenant at the location for 26 years. The item was put on the consent agenda as a boilerplate item, similar to the Sims and Ruby's Salon item which were heard in the past. Lynn Simmons, 700 Casa Loma Boulevard, appreciated doing business in Boynton Beach and wanted the business to continue at the location in perpetuity. She noted she was successful because of the location of the boat and the dive shop. Ms. Simmons felt the lease was decent and the rent was fair, but she needed a longer-term lease. She was aware the City entered into a five-year, five-term lease with a wireless tower company. She explained this past year she lost four serious sales to serious business owners who would not talk to her without a better lease. Her present location may not remain. She advised the proposed draft sent by Mr. Simon was acceptable with a few suggested changes. She compared the lease for this year to the interim lease they previously had and made changes she thought applied. She advised the interim lease last year promised a long- term lease. The renovations were still ongoing and would remain ongoing for some time. The first item pertained to language indicating the leasor shall lease to the leasee the same or comparable boat slip leasee had been utilizing. Staff felt a problem was the word comparable as it was subjective, due to either size or accessibility to the slip, and with the new construction and the turning radius of the SeaMist, there were issues. Mr. Simon was working with the dockmaster to optimize the marina and the ability to bring in new boats and with different sizes. There would be a substantial amount of boat slips that could house larger boats than were already there. If the wording allowed the flexibility of the boat lease as being the overriding language, Mr. Simon indicated the boat lease should be kept with the vessel and the building lease separate. A multi-year lease was a problem. Ms. Simmons also sought to have her rent offset for services provided to the CRA or other tenants as compensation for the marina informational services she provided. Mr. Rodriguez suggested the item be tabled and Ms. Simmons meet with Mr. Simon and Ms. Bright to bring a clean lease back to the Board. This topic had been discussed in the past and Mr. Weiland assumed that Mr. Simon and the tenant reviewed the items and that Ms. Simmons came back with another revision of what she would like to see. Ms. Bright agreed staff would meet with Ms. Simmons regarding the lease. They would structure the agenda item differently when it was brought back to the Board and the Board could evaluate it then. 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15,2010 Motion Mr. Rodriguez moved to table, that staff go back and clearly define what the Board decisions need to be made are, versus the staff decisions. Vice Chair Hay seconded the motion that unanimously passed. Ms. Simmons apologized to the Board for not meeting with Mr. Simon sooner On a different matter, Ms. Bright announced Mr. Simon completed an application from the Metropolitan Planning Organization, and the Community Redevelopment Agency was awarded $37,000 for a water taxi grant. Ms. Bright sent the information to various media and received a call about it and how it interfaced with the County's program. She thanked Mr. Simon for his efforts. VIII. Information Only: Chair Taylor read each item for comment. A. CRA Policing Activity Report for the Month of February 2010 and District Statistics for the Months of January and February 2010 B. Public Comment Log Monthly Update C. CRA Media Ms. Ross requested an update on the Urban Land Institute (ULI) selecting the Community Redevelopment Agency as a Sustainable Pilot Project area. Ms. Bright explained a Memorandum of Understanding would be drafted. Staff would be working on the deliverables and then take it through the Green process. The ULI would utilize the draft the Community Redevelopment Agency staff developed for the Greencentive Program and the Downtown Master Plan and hoped to create a boilerplate educational tool from it that would be used by cities throughout the United States. Ms. Ross noted she would be out of town on Friday and she would not be able to be present. D. New Contract for Trolley Advertising Ms. Bright explained Margee Walsh was told to drop the program in December; however, she just signed an advertising contract bringing revenue to the Community Redevelopment Agency in the amount of $13,770 Ms. Bright would provide an update for the Board the next week. E. NSP Foreclosure Information 6 ,I \ \ J' . :,,\, :"""'""'" _.~".:r~"'; ~~ .,"", ' . ," "'.,' ;"'" ' ~~~~Y~T2~lt RA iIi East Side-West Side- Seaside Renaissance eRA BOARD MEETING OF: March 15,2010 I X I Consent Agenda I Old Business New Business Public Hearing Other SUBJECT: Approval of Splashdown Divers, Inc. Commercial Lease Agreement Renewal SUMMARY: At the regular meeting held on March 10, 2009, the CRA Board approved a lease agreement with Splashdown Divers, Inc. for the CRA owned retail space located at 700 Casa Lorna Boulevard. The current lease is set to expire on March 31, 2010. The retail space is approximately 1,250sqft in size and occupies the majority of leasable space on the first floor of the building. The current lease rate is $1,250.00 per month and a total of $1,331.25 including sales tax. To date, the CRi\ has made no capital improvements or interior upgrades to the existing building. At the September 9, 2009, meeting, the CRA Board approved a commercial lease rate for the Sims Barber Shop and Ruby's Beauty Center of $1.05 per square foot of leased space. The proposed FY 2010-2011 lease (attached) for the Splashdown Dive Shop has been adjusted to reflect the Board approved square foot rate of $1.05. Based on this lease rate, the monthly rent would be $1,312.50 per month, or $1,397.81 including the required sales tax. The commercial lease agreement is for an additional one year term ending March 31, 2011. All other lease terms and obligations remain the same. FISCAL IMPACT: FY 2010-2011 Budget Annual Revenue of$15,750.00 RECOMMENDATIONS: Approval of the Splashdown Divers, Inc. Commercial Lease Agreement Renewal at the monthly rate of $1,312.50, plus applicable sales tax, for an additional one year term expiring on March 31, 2011. ~~/4 ( Michael Sirpon Development Director T:IAGENDAS, CONSENT AGENDAS. MONTHLY REPORTS\Comp\eted Agenda Item Request Fonns by MeetingIFY 2009 - 20\ 0 Board Meetings\03-\5-10\Splashdown Dive Shop Lease Renewal.doc COMMERCIAL LEASE AGREEMENT THIS LEASE AGREEMENT is made and entered into this __ day of ,20 I 0, by and between the Boynton Beach Community Redevelopment Agency of 915 S. Federal Highway, Boynton Beach, Florida 33435(hereinafter referred to as "Lessor"), and SPLASHDOWN DIVERS, INC., a Florida Corporation (hereinafter referred to as '"Lessee"'), whose address for the purposes hereof is 700 Casa Loma Blvd.. Boynton Beach. Florida 33435.. 1. 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 tht; other hereunder, Lessor does hereby lease, demise and let to the Lessee and Lessee does hereby lease, demise and let from the Lessor a portion of those certain premises at the building located at 700 Casa Loma Boulevard. First Floor (with the exception of the Seamist Ticket Office). Boynton Beach, Florida 33435 (the "Premises" or "Leased Premises" as further described on Exhibit "A" attached hereto), consisting of approximately 1,250 square feet. Lessor shall also lease to Lessee the boat slip # 1 within the Boynton Harbor Marina. A separate boat dockage lease agreement shall be entered into and be considered Exhibit "B" of this lease agreement. All terms and conditions as specified in the Boynton Harbor Marina Dockage Agreement shall govern the occupancy of the vessel. 2. LEASE TERM. The term of this Lease shall be acknowledged and Lessee's obligations under this Lease, unless otherwise expressly set forth herein, shall commence on April 1, 2010 ("Commencement Date"). Lessee's obligation to pay rent (as defined below) shall commence on the Commencement Date. The term of this Lease shall expire on March 31, 2011 (the "Lease Term"). Upon the expiration of the Lease Term as provided herein, the Lessee has the option of for a one year renewal by providing written notice of the intent to renew for an additional one year term within 30 days of the Lease Term expiration date. If no such notice of intent to renew for an additional one year term, expiring on March 31. 2012. is provided by Lessee to the Lessor as provided herein, occupancy shall be deemed as a Tenancy at Will, from month to month, upon the covenants, provisions and conditions set forth herein until otherwise agreed to in writing by both parties. A third optional to renew for a one year Lease term may be entered into provided the Lessor and Lessee agree in writing within thirty days. occupancy shall be deemed as a Tenancy at Will, from month to month, upon the covenants, provisions and conditions set fOl1h herein until otherwise agreed to in writing by both parties. 3. RENT. During the term of this Lease, the Lessee agrees and covenants to pay to Lessor a rental rate of One Thousand Three Hundred Twelve and 50/1 00 Dollars ($1 J 12.50) plus the required Sales Tax of in the amount of Eighty Five and 31/1 00 Dollars ($85.31) for a TOTAL MONTHL Y RENT due in the amount of One Thousand Three Hundred Ninety Seven and 81/100 Dollars ($1,397.81) per month, on or before the 1st of each month with a five-day grade period. Checks should be made out to the "Boynton Beach Community Redevelopment Agency." A late fee of Fifty and 00/100 Dollars ($50.00) 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 of the Leased Premises due to construction or renovations being done by Lessor at Lessor's request. 4. SECURITY. It is hereby acknowledged that 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. 5. 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. 6. OBLIGATIONS FOR REPAIRS. Lessor shall have the obligation to make repairs to any portion of the exterior of the Leased Premises including the air conditioning heating and cooling system and interior electrical system. Lessee shall be obligated to make repairs to any portion of the interior of the Leased Premises excluding the air conditioning heating and cooling system or electrical system. 7. IMPROVEMENTS/ALTERATIONS. No structures, improvements or alterations of any kind shall be placed upon or made to the property without first obtaining the prior written approval of the Lessor. 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. 8. 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 Lessees and as approved by Lessor; such signage to be at Lessee's expense. 9. 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 unleasable ninety (90) days there from. If the Leased Premises are not rendered leasable 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 fire and in that case Lessee shall be fully responsible for all costs associated therewith. If the Leased Premises are rendered unleasable, and such unleasability 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 unLesseeability, however if the Leased Premises are not unLesseeable, Rent shall continue to be due and payable. 10. LESSEE'S COVENANTS. Lessee covenants and agrees as follows: a. To procure any licenses and permits required for any use made of the Leased Premises by Lessee, and upon the expiration or termination of this Lease, to remove its goods and effects and those of all persons claiming under it, and to yield up peaceably to Lessor the Leased Premises in good order, repair and condition in all respects; excepting only structural repairs (unless Lessee is obligated to make such repairs hereunder) and reasonable wear and tear; b. To permit Lessor and its agents to examine the Leased Premises at reasonable times and to provide Lessor, if not already available, with a set of keys for the purpose of said examination. provided that Lessor shall not thereby unreasonably interfere with the conduct of Lessee's business; c. To maintain the Leased premises in safe condition and repair and at it's sole cost and expense. correct or remove any matter that would violate applicable law or constitute a dangerous or objectionable condition. 11. INDEMNIFICATION BY LESSEE. In consideration of said Premises being leased to Lessee, Lessee agrees: that Lessee, at all times will indemnify and keep harmless Lessor from all 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 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, tirms or corporations, here 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. 12. 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) t()r 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 (l 0) 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. 13. USE OF PROPERTY BY LESSEE. The Leased Premises may be occupied and used h~ Lessee exclusively as a retail dive shop and those uses incidental thereto. Nothing herein shall give Lessee the right to use the property for any other purpose or to sublease, assign, or license the use of the property to any subLessee, assignee, or licensee, which or who shall use the property for any other use. 14. CONDEMNATION. If, after the execution of this Lease and prior to the expiration of the term hereof, any portion of the Leased Premises shall be taken under power of eminent domain by any public or private authority, or conveyed by Lessor to said authority in lieu of such taking, then this Lease and the term hereof shall cease and terminate as of the date when possession of the Leased Premises shall be taken by the taking authority and any unearned rent or other charges, if any, paid in advance" shall be refunded to Lessee. If this Lease is terminated, alternate rental locations will be presented by Lessor as well as assistance in obtaining any available grant or business development assistance to relocate. 15. EVENTS OF DEFAULT. The occurrence of any ofthe 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: 15.1 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. 15.2 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. 15.3 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. 16. 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. 17. HAZARDOUS MATERIALS. Any activities in any way involving hazardous materials or substances of any kind whatsoever, either as those terms may be defined under any state or federal laws or regulations, or as those terms are understood in common usage, are specifically prohibited. The use of petroleum products, pollutants, and other hazardous materials for any purpose other than deemed appropriate for Lessee's specified business is prohibited. Lessee shall be held responsible for the performance of and payment for any environmental remediation that may be necessary, as determined by the Lessor, within the property. If any contamination either spread to or was released onto adjoining property as a result of Lessee's use of the property, the Lessee shall be held similarly responsible. The Lessee shall indemnify, defend, and hold harmless the Lessor from any claim, loss, damage. costs. charge. or expense arismg out of all\ such contamination. 18. 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 of the whole or any part hereof by a license or concessionaire or any person without first obtaining the express prior written approval of Lessor. 19. 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 pasty to be notified. For purposes of notice. the addresses or the parties shall be as follows: If to Lessor to: Boynton Beach Community Redevelopment Agency 915 S . Federal Highway Boynton Beach, Florida 33435 Attn: Lisa Bright, Executive Director With a copy to: James Cherof, Esq. Goren, Cherof, Doody & EzroL P.A. 3099 E. Commercial Boulevard, Suite 200 Ft. Lauderdale, Florida 33308 Ifto Lessee to: Splashdown Divers, Inc. 700 Casa Loma Blvd. Boynton Beach, Florida 33435 Attn: Lynn Simmons 20. MISCELLANEOUS. Section I. Quiet Enjoyment. Lessor covenants and agrees that upon Lessee observing and performing all of the terms, covenants and conditions on Lessee's part to be observed and performed hereunder, that Lessee may peaceably and quietly have, hold, occupy and enjoy the Leased Premises in accordance with the terms of this Lease without hindrance or molestation from Lessor or any persons lawfully claiming through Lessor. Section 2. Holding Over. In the event that Lessee or anyone claiming under Lessee shall continue occupancy of the Leased Premises after the expiration of the term of this Lease or any renewal or extension thereof without any agreement in writing between Lessor and Lessee with respect thereto, such occupancy shall not be deemed to extend or renew the term of the Lease, but such occupancy shall continue as a tenancy at wilL from month to month, upon the covenants, provisions and conditions herein contained. The rental shall be the rental in effect during the term of this Lease as extended or renewed. prorated and payable for the period of such occupancy. Section 3. Waivers. Failure of either party to complain of any act or omission on the part of the other party, no matter how long the same may continue, shall not be deemed to be a waiver by said party of any of its rights hereunder. No waiver by either party at any time, express or implied, of any breach of any provision of this Lease shall be deemed a waiver of a breach of any other provision of this Lease or a consent to any subsequent breach of the same or any other prOVISIOn. Section 4. Notices. All notices and other communications authorized or required hereunder shall be in writing and shall be given by mailing the same by certified mail, return receipt requested, postage prepaid, and any such notice or other communication shall be deemed to have been given when received by the party to whom such notice or other communication shall be addressed. Section 5. Assignment. Lessee shall not assign this Lease without first obtaining the written consent of the Lessor. Section 6. Invalidity of Particular Provision. If any term or provIsIOn of this Lease or the application hereof to any person or circumstance shall, to any extent, be held invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances other th,ill those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law. Section 7. Captions and Definitions of Parties. The captions of the Sections of this Lease are for convenience only and are not a part of this Lease and do not in any way limit or amplify the terms and provisions of this Lease. The word "Lessor" and the pronouns referring thereto, shall mean, where the context so admits or requires, the persons, firm or corporation mimed herein as Lessor or the mortgagee in possession at any time, of the land and building comprising the Leased Premises. Any pronoun shall be read in the singular or plural and in such gender as the context may require. Except as in this Lease otherwise provided, the terms and provisions of this Lease shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Nothing contained herein shall be deemed or construed by the parties hereto nor by any third party as creating the relationship of principal and agent or of partnership or of a joint venture between the parties hereto, it being understood and agreed that neither any provision contained herein, nor any acts of the parties hereto, shall be deemed to create any relationship between the parties hereto other than the relationship of Lessor and Lessee. Section 8. Brokerage. No party has acted as, by or through a broker in the effectuation of this Agreement. Section 9. Entire Agreement. This instrument contains the entire and only agreement between the parties, and no oral statements or representations or prior written matter not contained in this instrument shall have any force and effect. This Lease shall not be modified in any way except by a writing executed by both parties. Section 10. Waste and Non-Interference. Lessee shall occupy the leased premises in a careful and proper manner and not commit any waste thereon. Lessee shall not interfere with the business operations of any co-Lessee of this premises. Section 11. Governing Law. All matters pertaining to this Lease (including its interpretatiOlL application, validity, performance and breach) in whatever jurisdiction action may be brought. shall be governed by, construed and enforced in accordance with the laws of the State of Florida The parties herein waive trial by jury and agree to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Palm Beach County. State of Florida. In the event that litigation results from or arises out of this Lease or the performance thereof. the partie~ agree to reimburse the prevailing party's reasonable attorney's fees, court costs. and all other expenses, whether or not taxable by the court as costs, in addition to any other relief to which the prevailing party may be entitled. In such event, no action shall be entertained h) said court \ 1) any court of competent jurisdiction if filed more than one year subsequent to the date the cause(s) of action actually accrued regardless of whether damages were otherwise as of said time calculable. IN WITNESS WHEREOF, the parties hereto have executed this Lease the day and year first above written or have caused this Lease to be executed by their respective officers thereunto duly authorized. Signed, sealed and delivered in the presence of: WITNESS: LESSOR: Boynton Beach Community Redevelopment Agency Signature By: __.____._._______.__.______._______._ Title: Print Name Date Executed: WITNESS: LESSEE: Signature Lynn Simmons Splashdown Divers. lnc. Print Name Date Executed: '''"--~' -- - .. -~"~'.'-""". ._-''"'M~~,.,.>",,_...."".~1'' l-n ' 1r.".'.~.'~'''.l\:'>$l'''''"'''''"''''''.'.c~,,,,",",,,",, '.."-"'l'" <""",""".".,.,,.,., - ""1"'" -~~. .. "___~,""""'-.'A,,"-,_" x. OLD BUSINESS A. Legal Discussion of Splashdown Diver's Lease ~ Jr- /I.'ji, ~ "- r.....\ ~I~<ty~e~ eRA 11I1 East Side"'West Side...Seas',de Rena.,ssance eRA BOARD MEETING OF: May 11,2010 I Consent Agenda I X I Old Business New Business Public Hearing Other SUBJECT: Splashdown Divers, Inc. Commercial Lease Agreement Renewal Status SUMMARY: On March 15, 2010, the CRA Board reviewed a draft lease agreement renewal based on the terms and conditions of previous lease agreements for Splashdown Divers, Inc. located at 700 Casa Lorna Boulevard. The eRA Board tabled discussion of the lease and directed staff to once again meet with the tenant to finalize points of discrepancy. The Splashdown Divers lease expired on March 31, 2010. The tenant is occupying the building on a month-to- month basis. CRA staff met with the tenant and brought forward the items of discrepancy to the CRA Board on April 13, 2010. The CRA Board approved all staff recommendations to the Splashdown Divers, Inc. lease agreement. On April 21, 2010, the Executive Director, Lisa Bright, received a letter from Mr. Lee D. Sarkin, Esquire, on behalf of Ms. Simmons demanding multi-year lease terms and threatening further legal action against the CRA. On April 28, 2010, CRA Board Attorney, Jim Cherof, responded to Mr. Sarkin rejecting his claims against the CRA. Attorney Cherof 's correspondence outlined that Mr. Sarkin's client, Splashdown Divers, was offered a short term lease and to provide a response to CRA Board Counsel on or before May 4, 2010 if and when his client intended to sign and return the lease. As of May 5, 2010, the CRA has not received an executed lease for Splashdown Divers, Inc. FISCAL IMPACT: Loss of building rental of$16,042.80 per year. RECOMMENDATIONS: Approval of one of the following options: Option 1. Rescind approval of lease terms offer made to Splashdown Divers, Inc. at the April 13, 2010 meeting and have the tenant remain on a month-to-month basis. Option 2. Rescind approval oflease terms made to Splashdown Divers, Inc. at the April 13,2010 meeting and renegotiate new lease terms. Option 3. Begin tenant eviction procedures. ~ '- cG_ gc t- !Sa Bright, ExecUtiV~or T:IAGENDAS, CONSENT AGENDAS, MONTHLY REPORTSICompleted Agenda Item Request Forms by MeetingIFY 2009 - 20]0 Board Meetingsl05-J ]-]0 MeetinglSplashdown Dive Shop Lease Renewal-Disposition. doc GOREN, CHEROF, DOODY & EZROL, P.A. ATTORNEYS AT LAW SUITE 200 3099 EAST COMMERCIAL BOULEVARD FORT LAUDERDALE. FLORIDA 33308 PHONE: (954) 771.4500 FAX: (954) 771.4923 www.cltyatty.com SAMUEL S. GOREN JAMES A. CHEROF DONALD J. DOODY KERRY L. EZROL MICHAEL D. CIRULLO, JR. JULIE F. KLAHR DELRAY 6EACH OFfiCE: 76 N.E. FIFTH AVENUE DURAY BEACH, fL 33483 PHONE: (561) 276.9400 DAVID N. TOLCES JAM/LA V. ALEXANDER JACOB G. HOROWITZ SHANA H. BRIDGEMAN .ANNABELLA BARBOZA STEVEN L. JOSIAS, Of COUNSEL PLEASE REPl Y TO FORT LAUDERDALE April 28, 20 I 0 Sent bv Facsimile: (561) 994-0837 and bv U.S. Mail Lee D. Serkin, Esquire Law Office of Lee D. Sarkin 4700 N.W. Boca Rat,on Blvd., Ste. 302 Boca Raton, FL 33431 RE: Boynton Beach Community Redevelopment Agency ("CRA")/Splashdown Divers, Inc. Dear Mr. Sarkin: Your April 2], 2010 correspondence to the CRA relating to Splashdown Diver has been forwarded to me for a response. In your correspondence, you request that the CRA "honor [its] promises" of a long term lease with Splashdown or you will consider taking legal action. While you cite to the doctrine of estoppel, you fail to acknowledge Florida's Statue of Frauds, which would prohibit such action. Pursuant to the Statute of Frauds, "[n]o action shall be brought.:.for any lease thereof for a period longer than 1 year...unless the agreement or promise upon which such action shall be brought, or some note or memorandum thereof shall be in writing..." Fla. Stat. ~725.01. As noted by the Florida Supreme Court, the Statute of Frauds grew out of the state legislature's intent to intercept the frequency and success of actions based on nothing more than loose verbal statements or mere innuendos. Tanenbaum v. Biscayne Osteopathic Hospital. Inc.. 190 So.2d 777 (Fla. 1966); Coral Way Properties. LTD. v. Roses, 565 So.2d 372 (Fla. 3d DCA 1990). Where there is no executed written contract (the prerequisite to any action concerning a lease for a period of longer that I year) you will not be able to rely upon an application of the doctrine of equitable estoppel to avoid the statute of frauds and maintain any action against the CRA. See, Tanenbaum, 190 So.2d at 779; Coral Way Properties. LTD., 565 So.2d at 374. The CRA has offered your client a short tenn lease. Please advise me on or before Tuesday May 4, 2010 if and when your client intends to sign and return the lease. JAC/lb cc: Lisa Bright, Executive Director H:\2007\070473 BBCRAlJ...et1ers 20 I OlJ...tr to Sarkin (Splashdown Diversl.doc LA W OFFICE Lee D. Sarkin 4700 N. W. Boca Raton Boulevard Suite 302 Boca Raton, Florida 33431 Admitted In Florida and Illinois Telephone (561) 994-3622 Facsimile (561) 994-0837 April 21 ,2010 Lisa A. Bright, Executive Director Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 Re: Lease with Splashdown Divers, Inc. Dear Ms. Bright: Please be advised that I have been retained by Splashdown Divers, Tnc. (hereinafter "Splashdown") with regard to its occupancy of 700 Casa Lorna Boulevard, Boynton Beach, Florida 33435 (hereinafter the "premises"). Please direct all further communications related to the premises to the undersigned. As you know, Splashdown has occupied the premises as dive shop with its dive boat docked immediately adjacent thereto since 2001. Tn 2006 the Boynton Beach Community Redevelopment Agency (hereinafter the "CRA") purchased the premises. Since then (all while renovations have been ongoing at the marina), you, on behalf of the eRA, repeatedly assured Splashdown's Lynn Simmons thatthe CRA (1) would negotiate a long term lease for Splashdown once renovations were completed, (2) wanted Splashdown to remain in Boynton Beach and remain viable and (3) that the eRA would do everything in its power to assure that Splashdown would remain in Boynton Beach. Throughout your history with Splashdown you have consistently encouraged Splashdown to continue to build its business and to publicize the unique reefs off of the coast of Boynton Beach by reassuring it that it was "here to stay for a very long time" and that "it would always have a place to do its business". These promises are consistent with the CRA's public mission statement and its stated purpose. Based upon your specific promises to Ms. Simmons in writing and in numerous conversations, Splashdown was reasonably justified in believing that the CRA understood and would satisfy Splashdown's need for a long term lease. As a result, Splashdown chose not to pursue other opportunities and otherwise relied to its detriment on the CRA's repeated promises ofa long term lease for the premises. The term ofthe "Commercial Lease" which the CRA has offered Splashdown is completely inconsistent with your repeated promises over the last few years. This conduct appears to be a clear textbook example of misrepresentation, breach of contract and estoppel. The doctrine of estoppel applies to many forms of conduct. It has been observed that "the occasions for fashioning a remedy under the label of estoppel in order to prevent injustice are too numerous to count." Lambert v. Nationwide Mutual Fire Insurance Company. 456 So.2d 517.518 (Fla. 1st DCA 1985). The essence of the doctrine, however, is that a person should not be pennitted to unfairly assert, assume or maintain inconsistent positions. This principle is contained in the various applications of the doctrine. Lisa A. Bright, Executive Director Boynton Beach Community Redevelopment Agency April 21, 2010 Page Two One such application of the doctrine of estoppel, often called equitable estoppel, is present where a person attempts to change his position after representing a contrary position to another who reasonably relied upon the representation and who would suffer substantial injury ifthe inconsistent position were pennitted to be successfully asserted. State Department of Revenue v. Anderson, 403 So.2d 397, 400 (Fla. 1981 ); United Contractors, Tnc. v. United Construction Corp.. 187 So.2d 695,702 (Fla. 2d DCA 1966). The representation may be made by words or conduct and, where there is a duty to speak, failure to do so can be a representation relied upon by a party claiming estoppel. Pasco County v. Tampa Develo-pment Corooration. 364 So.2d 850, 853 (Fla. 2d DCA 1978); Travelers Indemnity Co. v. Swanson. 662 F.ld 1098.1102 (5th Cir.1981). I urge the CRA to honor your repeated promises of a long term lease of the premises to Splashdown. In the absence of the foregoing, Splashdown will consider all of its rights, including a lawsuit and lis pendens to insure that the property is preserved before the court issues its ruling. This is absolutely the last thing Splashdown wanted to mention, no less be forced to file, but the CRA'5 actions have left it with a Hobson's choice. I would welcome the opportunity to discuss this with you by week's end and to hear whether the eRA will honor your promises. Thank you. SENT VIA U.S. MAIL AND E-MAIL Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 While impressed with Mr. Weir's presentation, Chair Rodriguez felt one of the drawbacks was that Eastwind had only been established three years ago, and most of its projects were developed outside of the area. While Eastwind offered a mentoring program and other amenities, Chair Rodriguez felt a local, established company would provide the type of project sought by the Board for the community. Motion Vice Chair Hay moved that the Board select the Auburn Development Company to implement the Heart of Boynton vision. Mr. Orlove seconded the motion. Chair Rodriguez invited public comments. Brian Edwards, 629 NE 9th Avenue, was pleased with Auburn's presentation, its concerns for the health and wellbeing of its residents and that Auburn would work with the City on security issues. He hoped the project would move forward and that it would be determined at the outset whether developers had been engaged by lobbyists. Mark Karageorge, 240A Main Boulevard, expressed his support for Auburn. He was impressed by the stability of the staff at Boynton Bay, and its compassion for their residents. Notwithstanding Eastwind's expertise in multi-family and affordable housing, Auburn's track record was more substantial locally. Auburn was innovative and well- versed in the tax credit process. Chair Rodriguez thanked Eastwind's presenters and hoped they would remain engaged with the City for future projects. The motion passed unanimously. F. Splashdown Divers, Inc. Commercial Lease Renewal - Tabled March 15, 2010 Chair Rodriguez indicated four of the tenant's requests had been agreed to by staff and/or Attorney Cherof. As such, he requested the Board focus on Items 3 and 14 and the Right of First Refusal. There was no objection to the request. Mr. Simon noted the item was brought before the Board to review over the tenant's suggested changes in the terms of the lease agreement. Mr. Simon met with Ms. Simmons, owner of Splashdown Divers, and she was aware of the items that would not be supported by staff. 21 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Item 3. Denial of the tenant's request for a rent reduction for providing informational services to the visitors. The Board agreed with staffs denial. Item 14. Denial of tenant's request to provide an alternative rental relocation acceptable to tenant in the event the lease is terminated. Mr. Simon could not recommend acceptance of the language added by the tenant. If the Board wished to move forward with the project in the near future and terminate her lease, a buyout of the lease could be offered or a percentage of her rent could be applied to an alternative location. Chair Rodriguez suggested language be added such that if the lease was not renewed and the tenant was in good standing, the CRA could offer an alternative rental location. However, the CRA would not be bound by the tenant's acceptance of the location. If the tenant was evicted or terminated with cause and the lease was not renewed, no alternative location would be offered. The Board and Attorney Cherof concurred. Right of First Refusal. Staff recommended denial of tenant's request that the CRA provide a right of first refusal. This language was contained in previous leases and related specifically to the renovation of the building. Mr. Simon believed the language was added to ensure the tenant could return if she vacated the premises during the renovation. The right of first refusal language was redundant as upon the tenant's acceptance of the renewal, she would be the first person to be approached. Attorney Cherof advised that he had reviewed and was in agreement with all of staffs recommendations. The Board concurred. Motion Mr. Holzman moved to approve all staff recommendations on the lease agreement. Ms. Ross seconded the motion. Chair Rodriguez invited public comments. Lynn Simmons, of Splashdown Divers, 700 Casa Lorna Boulevard, accepted the Board's decision. While she understood the CRA planned to install a welcome center near the fuel dock, she contended people did not enter the Marina at that location but 22 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 rather at the front entrance. She requested consideration be given to her because visitors to the Marina made it a practice to knock on her door for information. Chair Rodriguez agreed Ms. Simmons had a valid point and believed the continual interruption by visitors impacted her business. As such, he requested staff come back to the Board in the near future with recommendations that would best serve Ms. Simmons, the community and visitors to the Marina. The motion passed unanimously. G. Downtown Master Plan Implementation Strategies and Funding Options- PowerPoint Presentation The Board recessed at 9:28 p.m. and reconvened at 9:34 p.m. Ms. Brooks provided a brief history of the Downtown Master Plan (DMP). The process began in 2007 and was completed in March 2008. The DMP was adopted in January 2009 and amended to cover policing and infrastructure costs. Goals and objectives included the creation of public parking and gateways, redevelopment of the Marina, green building, historic preservation, public art, public events and activities, marketing and promotion, affordable housing, economic development, job creation and community policing. With regard to public parking/ the CRA purchased half a block at 1st Street and 1st Avenue to provide parking for the Old High School. In addition to the 126 public parking spaces owned by the CRA in the Marina Village Condominium project, the CRA would have 100 public parking spaces in the Promenade Condominiums. The CRA designed the entryway feature for the Marina at the east end of the downtown area. Wayfinding signs were purchased for civic functions held downtown. The CRA purchased 24 Marina slips and the dive shop building to preserve the marine economy in Boynton Beach. A structure north of Two Georges Restaurant was purchased to create public access to the waterfront. A Master Plan was created at the Marina to enhance public access to the water and new piers/ pilings and docks would soon be completed. The sum of $2 million had been received from Palm Beach County for the preservation activity. A green incentive program/ which included brownfield designations, had been drafted. Staff was working with the ULI (Urban Land Institute) to refine the program so that it could be used in other cities and areas of the country. 23 ~~Y~Te~/' East Side....West Side"'Seaside Renaissance eRA BOARD MEETING OF: April 13,2010 I Consent Agenda I X I Old Bustness ,-1____ New Busine~~ l. ,J PubUc Hearing Other SUBJECT: Consideration of Approval for Splashdown Divers, Inc., Commercial Lease Agreement SUMMARY: In March 2006, the eRA purchased the two story retail dive shop building aud 24 marina slips located at 700 Casa Loma Boulevard from DSS, Inc. in order to preserve the existing commercial fishing and diving businesses as well as to provide additional public access to the waterfront. Splashdown Divers, Inc. has occupied the retail space as a dive shop since 2001 and has operated as a commercial dive vessel in the marina since 1984. The dive shop retail space is approximately 1,251 sqft in size and occupies the majority of leasable space 011 the first floor of the building. Past lease agreements with Splashdown Divers, Inc. have been written for a one year term while the futme of the building was being contemplated as part of the Boynton Harbor Marina Master Redevelopment Plan. To date, the CRA has made no capital improvements or interior upgrades to the existing building. At the regular meeting held on March 15, 2010, the eRA Board was presented a draft renewal lease agreement for Splashdown Divers, Inc. based on the terms and conditions set forth in previous leases. The eRA Board tabled discussion on the item when Lynns Simmons, owner of Splashdown Divers, Inc., wanted to negotiate additional lease tel1l1S not detailed in the Board packet. Staff was asked to meet with Ms. Simmons regarding her specific lease issues and bring back recommendations. RECOMMENDATION: The following is a list ofCRA staff recommendations for each Tenant requested change (see attached): 1. Staff Recommendation: ApprovaL of language to include the rental of Slip # 1, located adjacent to the dive shop building, under the terms and conditions oftlIe Boynton Harbor Marina Slip Lease Agreement. 2. Staff Recommendation: Approval of a one year lease term with an option for a one year renewal upon written notification by the Tenant, and an option for a third one year renewal upon mutual approval of the eRA and the Tenant. 3. Staff Recommendation: Denial of Tenant request for a rent reduction for providing informational services to visitors. 14. Staff Recommendation: Denial of Tenant request to provide an aLtel'l1ative rental relocation acceptable to Tenant in the event the lease is terminated. 17. Staff Recommendation: Acknowledgement that the storage of reasonable amounts of commercial boat motor oj I for business use only is acceptable. Section 10. Staff Recommendation: Approval of additional language concel11ing "quiet enjoyment". RIGHT OF FIRST REFUSAL. Staff Recommendation: Denial of Tenant request that the eRA provide right of first refusal language. FISCAL IMPACT: FY 10-11 Budget Annual Revenue of $15,750.00 based on the lease rental rate. - ~., l..--' .r: ( .?~~#;;7?~ Michael Simon, Development Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request FOffiJS by Meeting\FY 2008 . 2009 BOard Meetings\3-] 0-09 Meetlng\Splashdown Dive Shop I.ease Renewal IO.II.dnc ".~tlfr.""''-'' .......allln.. '~"....,'''i'~>'''',~''''--...;;l'il~r;r-&--'-.I. ~. v"""~~-l'.,;~,~~~,~,;~!i~..,iiW.o;'~"~"'~~f'lltr~(~,.~JlilT%I:~iil'JJi..:1lV..o:!i -~"".i'.,..~w'~~'-,<ilrI.\-~~l'~~l.i;;;.il.%;;it'''-....~''''_,:~!i'~~~~''.'''';" x. OLD BUSINESS B. Approval of Business Signage Improvement Grant to South Florida Mastercraft-TABLED Aprill3, 2010 1'/ ,,"'. ~~~<tY~T8~ eRA Iii East Side-West Side-Seas'lde Renaissance eRA BOARD MEETING OF: May 11,2010 I Consent Agenda I X I Old Business New Business Public Hearing Other SUBJECT: JR Watersports, Inc. d/b/a South Florida Mastercraft application for signage on the property located at 725 North Federal Highway, Boynton Beach, FL - TABLED, Aprill3, 2010 SUMMARY: Jana Wood, as Manager ofBZ Wood Properties, LLC, who owns the property located at 725 North Federal Highway, submitted an application for the CRA's Business Signage Improvement Grant on March 11,2010. This item was placed on the Agenda for the Board Meeting held on April 13, 2010. At the April 13, 2010 Board Meeting this item was pulled by the Executive Director because South Florida Mastercraft installed their sign prior to Board approval which made them ineligible for the grant. This item was tabled at the April 13, 2010 meeting in order for staff to recommend any program revisions. If the Board agreed to any such revisions, it would then allow JR Watersports, Inc. to be eligible for the grant. Under the existing guidelines, a business must receive CRA Board approval for requested improvements urior to performing or paying for the work. After a comprehensive analysis of the existing program guidelines, staff believes this provision provides the CRA with a higher level of fiscal responsibility. CRA staff is not recommending any changes to the Business Signage Improvement Grant. Therefore, JR Watersports, Inc. d/b/a South Florida Mastercraft remains ineligible for the grant. FISCAL IMPACT: Project Fund line item: 02-58400 CRA PLAN, PROGRAM OR PROJECT: 2008 CRA Economic Development Plan RECOMMENDATIONS: Deny the Business Signage Improvement Grant application for up to $1,500.00 to JR Watersports, Inc. d/b/a South Florida Mastercraft '-cc . a Bright, Executive T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Business Signage- South Florida Mastercraft-untabled.doc Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 1], 2010 Motion Mr. Holzman moved to go forward with the addition that the Cheerleaders help with the Mayor's Walk and cheer on all the walkers. Mr. Grlove seconded the motion that passed unanimously. D. Approval of Business Slgnage Improvement Grant to South Florida Masteraaft This item was pulled by Ms. Bright. Mike Simon, Development Director, explained the item related to the approval of a Business Signage Improvement Grant application for JR Watersports, Inc., doing business as South Florida Mastercraft, for the signage on the property located at 725 N. Federal Highway. South Florida Mastercraft had taken over the building and opened a new business, taking advantage of the CRA's Commercial Fac;ade Improvement Grant Program. The grant provided matching funds of up to $1,500 for the installation of signage for new or expanding businesses. The applicant had met all the qualifications. However, under the terms of the grant guidelines, payment for and approval of the signage was required prior to installation. The applicant had the signage installed on April 8th. If the signage had not been installed on that date, a two-week delay would have resulted relating to the availability of the bucket truck and the City's permitting process. The delay would have adversely affected the grant application. The grant opportunity had only recently been made available and it had been difficult for the applicant to comply with the criteria. As Mr. Simon felt timeframe issues would continue to surface, he suggested the Board modify the program. As another option, the Board could agree to a waiver and approve the grant. He noted, however, the Board had shied away from waivers in the past, opting Instead to address program deficiencies by establishing new guidelines. Mr. Simon inquired whether the Board would prefer to deny the application and have staff present revised program guidelines for review at the next meeting. Chair Rodriguez pointed out the applicant had already paid for the signage, and he suggested the matter be tabled and that program revisions be brought before the Board at the next meeting. Vice Chair Hay supported tabling the item and bringing it back for further review. Mr. Holzman offered an alternative option to approve the grant with a waiver and place the item on the agenda for the next meeting. 5 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Ms. Bright commented several people had difficulty complying with the criteria of the program. She offered to provide a comprehensive list of the individuals, as Mastercraft was not the only applicant caught in the crossfire. Mr. Simon believed revisions would result in a more effiCiently-run program. Chair Rodriguez suggested the Board be given a "heads-up" prior to a meeting if a recommendation proposed by staff was not on the agenda. Ms. Bright apologized, noting she learned of the issue after the agenda had been prepared and felt obligated to pull the item. Motion Vice Chair Hay moved to table and bring back a revised signage policy. Mr. Holzman seconded the motion that passed unanimously. Staff would provide a comprehensive list and recommendations for amending the program at the next meeting. Attorney Cherof recommended a separate motion be made approving the consent agenda items that had not been pulled. Motion Ms. Ross moved to approve the consent agenda items that were not pulled. Vice Mayor Hay seconded the motion that passed unanimously. VIII. Information Only: A. Explanation of Small Business program Scoring Matrix IX. Public Comments: (Note: comments are limited to three minutes in duration) Herb Suss, 1711 Woodfern, expressed concern for the residents of the Preserve development. It was determined the Preserve, which was funded by the CRA in the amount of $2.5 million, had problems with defective Chinese drywall, and he hoped the issue could be resolved. He believed the federal government was recommending removal of the Chinese drywall and inquired whether the City or the CRA would help finance the removal. Ms. Bright responded she had previously addressed the concerns of Mr. Suss at a City Commission meeting. She noted the eRA had not invested $2.5 million in the development, but had provided assistance of approximately $1 million in home subsidy 6 iI~~~qY~Te~,c RAin':':' ' East Slde....West Side.....Seas.'de Renaissance 2009~2010 Boynton Beach Community Redevelopment Agency Business Signage Impl'ovement Grant Program Guidelines &. Agreement ''''J~ 9:qS--~ Provram Re2ulations 1. The Applicant agrees not to alter, renovate, 01' demolish the new sign for three years, commencing at the time final inspection by the CRA is completed. ff violated by the appliCflnt, the eRA may choose to require grant fund repayment. 2. The property owner, or tenant if applicable, must complete the signage improvement project and submit for reimbursement within 90 days of the grant swal'd. Failure to complete the project in a. timely manner will result in the property owner, or tenant if applicahle, losing the grant reimbursement opportunity. The Board may consider time extensions. 3. Maximum Grant amount: The CRA will provide, a 50% matching grant for eligible signage improvements up to a total of one thousand five hundred doUars ($1,500) of CRA funds. Reimbursement Rnulations 1, This program is designed as a reiqlbunement grant. That is, all work must be done and paid for by the Applicant, plior to the CRA's funds being released. The CRA will provide reimbursement to the grantee upon submittal of a complete Reimbursement Request. 2. Reimbursement Request shall be summarized in a I'epolt and accompanied by proper documentation. Proper documentation will consist of; (1) Project accounting including invoices. receipts or other acceptable evidence of payment the licensed contractor(s) that have been marked "paid" signed by each. Proposals for "work to be completed" or "bids" are not considered propel.' documentation. Each item will be supported by a canceled check showing the face of the check, as well as the back of the canceled check; or Cl'ed.it CIIrd receipt (2) the Applicant shall warrant that all bills related to the Project are paid in full inchtding. but not limited to, all contractors, subcontractors, labor, materials, related fees 8ltd permi.ts, and (3) the Application for re-imbursement shall provide a minimum of four 3"x5" colo!' "during" photos and II minimum of four 3"x5" color "after" photos of the Project. Photos should be from approximately the same position as the "before't photos submitted in the Application. 3. Grant funds will be reimbul'sed exclusively for approved work, approved change orders and only for work that has .been performed . the grantee has received notifwation tbat the Grant Application has been approved by the eRA. 4. Grantees may not submit signage improvements for reimbursement which have been used 8S 5. Grantees shall grant the CRA and/or the City of Boynton Beach the rights and use of photos nd project application materials in promoting the program. 3- \0 Date V.r;> Title Applicantffenant's Signature Date Printed Name Title STATBOFFLOlUDA COUN'IY OF PALM BEACH BEFORE ~ an officer duly authorized by law to administer oaths and take acknowledgements, personally appeared :JA("\A I A )or>d ' who is personally known to me or produced as identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is hislher act and deed. IN WIlNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this ~C),( :> day of (Y1 A ((.,.h ,20 tD. LIC l/ ~~.~/ ~~ - ~/1. :z())~ i~~.~~ SCOTT A. MCCRACKEN :bL NY C(>>AISSIONt DO 150620 * ~ -I< EXPlRES:Apdl11.2012 ~1J'orf\.~ bde411w",1IoIIIJ1enIces 's Signature L.u.Jcoot j-D3'~\O Date O~ Title 2 / /J ,. (- n ~-;p( STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE MEt an officer duly authorized by law to administer oaths and take acknowledgementsJ personally appeared '~p. I N~ J who is personall)' known to me or produced as identification, and ackiiowle3ged helshe executed the foregoing Agreement for the use and purposes mentioned in it and that the instrument is his/her act and deed. IN WITNESS OF THE FOREGOING, I have set my hand and official seal in the State and County aforesaid on this ~fO day of f'f'\f\fOl\ J 20.lD.. ~tJly-1(,. .,p .......'t> SCOTT A. ~ * ~ '.f< IdY CO&IIIIssrON, DO 7SOOal ,~ b-~8:Apdf1,20f2 OF"" .....MOIlJTw 8cIIIgIt IIo!aly lItntet 3 )IJ ;1 ~"~ct:Y~T8~!CRA ill East Slde~ West Slde~Seaslde Renaissance 2009-2010 Boynton Beach Community Redevelopment Agency BUSINESS SIGNAGE IMPROVEMINT GRANT PROGRAM APPLICATION FORM Maximum Grant Amount Is $1,500.00 (Please PrInt or Type Only - Use Addfttonal Sheet. If NeceoalY) APPLICANT INFORMATION Name of Property Owner: LLl ~~:~sOfProperty IdS -D. Cily/State: ~'r\~ 1f:acJ1 Phone # Day: ~ - ,3 -, "'<i~a:3 tedffDl Hwj ZipCade: 334.~5 Evening.: ~. - 3+f - 8tb2 L.{- (Cel f) Legal description and PCN#af the property to be Improved (please attach copy of warranty deed and lease, If applicable): a-LtoC3l;ed Name af Business: (If DJfferent fram Property Owner) City/State: Phone # Day: Type of Business: ~ Walfrs;crls pC D6B,A~ S/Jufl, Florll:/a. mu.JTe///~.f'/ ,0).5 ". \-pdq(a( ~ '"Be Zip Code: 3342L1) , -13- Evening: ~ - 72, -7 - (5 \0 Address of Business: Years of Operation: ~ Number of Employees: 1- Annual Payroll: L~at).OO Number of Employees residing In Boynton Beach: * PROGRAM GUIDELINES The following guidelines are Intended to Inform a potentlaf grant applicant of the extent and scope of the program. The purpose of the program Is to encourage commercial property owners to upgrade their properties by Improving the external appearance of their business and to encourage businesses to Invest In theIr operations. The following guidelines are appltcable to this program: 1. The program is available only for licensed busInesses located wIthin the Boynton Beach Community Redevelopment Agency (CRA) district boundaries. Note: See attached CRA Area Map. 2. The program Is for commercial properties and businesses only. The property Owner or Tenant may be the applicant. However, if the applicant (s the Tenant, then the Appllcatlon and Agreement must be jointly executed by both the property Owner and the Tenant. 3. Applicants may not have any outstanding City of Boynton Beach liens against their property and their business license In good and current status with the City of Boynton Beach. In the event that an Applicant has an outstanding City of Boynton Beach lien against the property, the grant will not be awarded until the complete satisfaction of the lien. 4. Eligible slgnage improvements for this program Include: II Slgnage for a new business (located on the building or the property) II New or replacement slgnage for an existing business (located on the building or the property) II Signage on Awnings/canopies II Associated lighting 5. All work mYIl be in compliance with applicable Boynton Beach Building Codes and all contractors IDYll be licensed In Boynton Beach/Palm Beach County. Slgnage must be In accordance with City Ordinance No. 98-43 and the CRA Design Guidelines (attached). 6. Proposed slgnage and applicable Improvements must be approved by the CRA Board. 7. Maximum Grant amounts: The CRA will provide, on a relmbul'88ID8nt SIIII, a 50% matching grant for eligible slgnage improvements up to a total of one thousand five hundred doltars ($1,500) of CRA funds. Example: Total sign costs: $1,800.00 Applicant funds expended: $1,800.00 CRA reimbursement: $ 900.00 8. The Slgnage Improvement Grant program may only be used one time In any three (3) year period for anyone property owner I business entity or applicant. Businesses may re-apply for additional grants any time after three (3) years from previous grant approval. 2 9. The approved applicant must complete the slgnage project and submit for reimbursement within 90 days of the grant award. Failure to complete the slgnage Improvements In a timely manner wilt result in the property owner, or tenant If applicable, losing the grant reimbursement opportunity. The Board may consider time extensions. 10. Disbursement of grant funds shall only occur If the following conditions are met: · CRA has received an applicant reimbursement request letter. . CRA has received copies of executed sign contracts, canceled checks (front and back); or credit card receipts as proof of payment. · eRA has received copIes of final "paid in fulr vendor/contractor Invoices. · eRA has received copies of final inspection approvals for all permit required work. . Applicant provides four 3"x5" color "After" photos. 3 APPLlC~TION PROCESS 1. An applicant seeking a project grant may secure an application from the Boynton Beach Communrty Redevelopment Agency (CRA) located at 915 S. Federal Highway, Boynton Beach. 561-737-3256, or online at www.boyntonbeachcra.com. 2. An original application with all materials Is to be returned to the Boynton Beach Community Redevelopment Agency for review and approval by the CRA Board. Applications will be considered on a first-come, first served basis. 3. Appropriate grant program documents will be prepared and submitted by the applicant. CRA staff will then present the completed grant application to the eRA Board for their review and approval. The eRA Board conducts their meetings on the aecond Tuesday of each month and the applicant will be notified of grant approval by regular mall. 4. The CRA will administer the Business Sign age Improvement program and funding. In addition to the appropriate City buDding Inspections, the eRA will Inspect the work to determine the satisfactory completion of the work. 5. Applicant shall obtain, read and understand all aspects of the Business Slgnage Improvement Grant Program Agreement, Including Program and Reimbursement Regulations. 6. Proposed 81gnage must be designed in accordance with the Urban Design Guidelines (attached). 7. Application to this Program is no guarantee of funding. Funding is at the sole discretion of the CRA Board. REQUIRED PROJECT INFORMATION Submit the following required items along with the Application: · Project work write-up(s) describing in detail the scope of the project, · Plans or sketches of proposed slgnage and location including color samples and material specfficatfons, · Third-party cost estimates from a minimum of two (2) licensed contractors, . Estimated project time line, . Evidence of financial ability to pay for the project (approved loan, cash account, line of credit, etc.), · A minimum of four 3" x 5" color "before" photos of the project which must include all"publlc views", 4 By signing this Application, I acknowledge that the Information provide Is true and accurate. I acknowledge that I have received, read and executed a copy of the Program Agreement and I agree to mply with Its content. If;v App" antfTenant's Signature ~~ vJoDd P ted Name ?:> -03-dO \0 Date ()~// II r: Title I AppllcantfTenant's Signature Date Printed Name Title STATE OF FLORIDA COUNTY OF PALM BEACH BEFORE ME, an officer duly authorizEKLbY law to adminIster oaths and take acknowledgements, personally appeared ~nA I^-)oO d , who Is gersonally known to me or produced as Identification, and acknowledged he/she executed the foregoing Agreement for the use and purposes mentioned In it and that the Instrument Is hlslher act and deed. IN WITNESS OF THE FOREGglNG, I have set my hand and official seal In the State and County aforesaid on this ~\ day of 'I'f\~t;U{\ ,20~. ~1s.IO expires: 0z,o/;?-.- I ~ ~p.y '" .. .......~ 800lT A MOCRACICEN . 'II-..~ * MY COUIIISSIOtU DO 150620 '\~ . EXPIRES: Apd 11, 2012 ~OfA.fft"- IIocMIIdlbrv_NollMy8tMces ~~ -0-3 -t:;)O 10 P Date s Authorized Mastercraft Dealer 561-737-9423 Fax 561-737..IHZ3 \ S \0 725 N. Federal HWY. Boynton Beach Fl. 33435 !yww. so uthfloridanlastercraft. COli' Date: 03/16/2010 South Florida Mastercraft Business Sign Estimated Time Line. 03/2010-0btain estimates form local sign companies. 04/2010-- Give deposit for project and time to make the sign. OS/2010-Pay in Full and Have sign company deliver and install sign onto our building. located at 725 N. Federal Highway Boynton beach Fl. 33435. Contact Jana Wood 561-737-9423 Fax(561 )-737-151 0 Mar 10 10 10:07a $0 561-888-2164 p.1 Third Street Signs Contract South Florida MasterCraft Fabricate and installlwo sets of PVC letters: A) Size: 15-1/2" B) Latter:: Black C) Copy: MasterCraft (Logo style) 0) Thickness: 112D E) Stud mount flush to wall F) lOcations: East and north elevations G) Letter front windows medium copy Price: $2675.00 + Sales tax and cost of permitting COST OF PERMITTING: 380.00 TOTAL TERMS: Upon Contract ($380.00) 50% Upon lssuance of permit Balance upon defivery This agreement shaD be binding on Ille parties. their ~ succesSOrs. execulofs, edmJnIstralofs end aalgns, Title of sold slgnaga abat not pass from Third Street SIgns to cusfDmer unlH ell amounls due have be$n p111d fn fuU. Customer agrees to pay any court costs and attorney fees should Ihey become l'18CU$tHY to coReef.lrti ~Id baIaIwe. CUItomer warrants lhalll1ey have the legal aU\horlty place slgnage In the loc8lfom~ lIldIe&ted on lhe CUltomel approved cfrawIng. Execution of this contract consUMes a contract between Quellly Home Team and cu&tomef for the Insl8tlation of the &boW d&SCfl>ed slgnage. Funds due Quallly Home Team Included In the above contract lolal and &tialI be forwerded by Third Slfge1 Sfgns upon completion. S'hauti permit eppllcallons be denlsd for this project. aU monies hlIId by ThIrd Slr8et Signs will be refunded 10 walomet less the cost of pemallllnll .rforts. Should the pennltlfng proc... requfre a change In Ih& SCOpe of work, $t/d1 scope and any price changea as a result will become a separate addendum 10 Iilrs contract lhkd Slfeel Signs warraolli' lhe slgnagli! described In lhI$ contract for a period of two(21 yems from the cfaIe of !rtstatr.tkm 10 be free of defecls: In material 0(' wockmanshlp. P.m. and labor for needed repairs. wit be at no charge under normal Mer and tear on the elaclrlcal pllrls fora period of one (1) yeer. Not Indudad lite acfs of God, v__r.m. vIolence. misuse. neg{ect or accidenl ~NY WOR~ PEftFORMEQ Dill SJ,ID ~ BY PERSONS NOT SPECIFfCAlt y AUTHORIZeO BY Third Skeet srgns Will CAUsf:: THE REMAINING WARRANTY TO ,I: VOID. MODERN MEDtA SERVICES NAME: DATE: CUSTOMER NAME; DATE; i .. " ~ ,. : .....1 I i -" Ol , -" 8 ~~ ~ r o ~ i ~~ <" U\ I ~ t$ f -;" J a':i! . i ?r- . ~~ I ()1 ~C! 01 I -+.0 q g ~ I eta S~ -; g'rri Q " lSI '"Tl Q r U\ c: ! ~U\ -I t\ =\ 0 ~ , r .'Io/,. " ! f.L. :... ~ D :0 D ~ (/l 'tl en :0 'TIIIRD S~REE:l I i i i nt ~ =:g e. m ~;.~_ _.:a. G'l III ~ ." I :1- Cf()1 m.... .... ~ (/) fn:t: III f:?~ CD .), ~ () .... (S) n~ o I II '"'10 ~ . m :D 216 N.E. THIRD STREET, BOYNTON BEACH, FI33435 =:- . PHONE: 561-374-9111 FAX: 561-374-8605 g -~- Page 1 ofl '1 1 . ...... .- {~DUth FIDri-=!'!;/!'a!!lterCra Pin MOlUlted Letters -., i . }, http://mail.southfloridarnastercraft.comleonapps/ftlwmlcontent?uri=mimebody%3A %2F%2F%3Ff... 2/26/2010 ~ cSo1IGN FACTORY -Innovative Designs- 1313 W. Boynton Beach Blvd. Suite R-13 Boynton Beach, FL. 33426 Phone 561.737.8911 fax 561-737-9966 Estimate Date Estimate # 2/261201 0 589 State EIec:trIcal Siga Contractor Lic. ES12DOO702 Name I Address South Florida MasterCraft Terms Rap Project Item Description Qty Rate Site Number Job Number Total Sign Pin Mounted Letters IS" black. includes I 2,100.00 2,IOO.OOT permits, drawings" Inspection. A 50% Deposit is Required to Start all Jobs Balance Due on Completion. Thank You For Subtotal Your Business $2,100.00 Sales Tax 5136.50 Total 52,236.50 Signature E-mail Web Site SlgnFactory@aol.com www.SouthFloridaSi&nFactory@ao... '~~'!jib;''''''"''''_''1~h~_~ ,- - '1" ,,~-.!:1!it.,~~~,'""~--""-V'-" rr_'r"it~~"!l~j~8~;~1,!l.~~!i~ i:>o"~~'I~G..j,'~ar_'IJ~-;:tlJ(~,~,..~/Ai&i;<i;;:,.IM.<I'" ~'.o.".,.lT1r;~-~'iiIIliif~ti"!k'1';'#""""rl\..",,~;~lliZ;'/';'<f.j:U&.it.ilti x. OLD BUSINESS C. Consideration of Entering into a Land Swap Agreement with the City ~~~qY~Te~lc RA . East Side-West S"lde-Seas"lde Renaissance eRA BOARD MEETING OF: May 11, 2010 I Consent Agenda I X I Old Business I I New Business Legal Other SUBJECT: Consideration of Entering into a Land Swap Agreement with the City for Property in MLK Corridor SUMMARY: Since 1988 the City has been acquiring property along the Martin Luther King, Jr. Blvd. corridor. Also, the CRA has been acquiring property in the corridor since 2005. The original intent was that property acquired by the CRA west of Seacrest Blvd. would be turned over to the City and the City properties east of Seacrest would be turned over to the CRA. On March 15,2010, the Board voted to enter into a land swap with the City. The parcels to be traded are shown on Attachment "A" and numbered. The individual property information is listed on Attachment "B". The CRA paid $900,200 for the parcels to be turned over to the City. The City paid $420 for the parcels to be turned over to the CRA. This is due to the fact that these parcels were deeded over for non-payment of property taxes. The transfer of the properties will facilitate the City to redevelop a single-family housing enclave at NW 10th Avenue on the just west of Seacrest Boulevard adjacent to Poinciana Elementary and the CRA will redevelop multi-family housing enclave on the south side ofNE 10th Avenue just east of the strip center in the middle of the block along with a few lots with frontage on NE 9TH Avenue. Attached is the Land Swap Agreement drafted by the CRA attorney. FISCAL IMPACT: The standard land transfer costs shall be borne by each party. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS/OPTIONS: Approve the execution of the Land Swap Agreement between the CRA and City for properties located in the Heart of Boynton area. ~ (; "~~L sa A. Bright Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\CRA-City Property Exchange.doc ATTACHMENT "A" CRA/CITY PROPERTY EXCHANGE 2010 Exchpnge.doc T:\DEVELOPMENI\HOBIMLK CorridorlCity-<:RA Property ExchongelCity CRA Property .~ ~ J Date Value/Property PCN Address Purchased Appraiser Purchase Price 1 08-43-45-21-24-000-0101 NW 11th Avenue 10/05 $ 48,519 $ 219,542 2 08-43-45-21-24-000-0103 N. Seacrest 10/05 $ 24,223 $ 109,721 3 08-43-45-21-19-000-0130 124 NW 11th Avenue 10/09 $ 45,729 $ 45,000 4 08-43-45-21-09-000-0012 112 NW 10th Avenue 12/09 $ 47,865 $ 110,000 5 08-43-45-21-07-004-1450 909 N. Seacrest 8/05 $ 110,056 $ 223,725 6 08-43-45-21-07 -004-1460 905 N. Seacrest 10/04 $ 26,928 $ 92,200 7 08-43-45-21-07 -004-1470 103 NW 8th Avenue 4/05 $ 26,928 $ 100,000 Assessed Date Value/Property PCN Address Purchased Appraiser Purchase Price 1 08-43-45-21-10-005-0090 MLK 6/95 $ 54,000 $ 100 2 08-43-45-21-10-005-0100 MLK 6/95 $ 205,200 $ 100 3 08-43-45-21-04-000-0202 206 M LK 6/95 $ 111,942 $ 100 4 08-43-45-21-10-004-0130 NE 9th 10/99 $ 28,434 $ 100 5 08-43-45-21-25-001-0040 MLK 12/04 $ 126,000 $ 10 6 08-43-45-21-27-001-0260 MLK 9/05 $ 42,840 $ 10 r~ ATTACHMENT "B" MLK Corridor Project Area City and CRA Property Exchange CRA Property $ City Property r $ (- 330,248 $ 568,416 $ 900,188 420 ~AND SWAP AGREEMENT BY AND BETWEEN THE CITY OF BOYNTON BEACH AND THE BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY THIS LAND SWAP AGREEMENT (the "Agreement") is made on this _ day of , 2010, by and between the City of Boynton Beach, a Florida municipal corporation (hereinafter referred to as the "CITY"), and the Boynton Beach Community Redevelopment Agency, a public agency created pursuant to Chapter 163, Part ill, of the Florida Statutes (hereinafter referred to as the "CRA"). WHEREAS, the CITY owns six (6) parcels of real property, more particularly described in Exhibit A (hereinafter the "City Parcels") and the CRA owns seven (7) parcels of real property, more particularly described in Exhibit B (hereinafter the "CRA Parcels"), within the City limits and in Palm Beach County, Florida. WHEREAS, pursuant to the Florida Interlocal Cooperation Act of 1969, gg163.01 - 163.07, Florida Statutes, the CRA and the CITY are allowed to make the most efficient use of their powers to cooperate with each other on a basis of mutual advantage for the benefit and development of local communities. WHEREAS, the development of the Martin Luther King Corridor Project Area is in the collective public interest of the CITY and the CRA, the CITY and the CRA have mutually agreed to the exchange of the City Parcels with the CRA Parcels. THEREFORE, in consideration of the premises, the mutual covenants and promises herein contained, the parties hereby covenant and agree as follows: 1. CONVEYANCE AND CONSIDERATION: The CRA shall convey its title in the CRA Parcels, together with all rights and appurtenances pertaining to the real properties, including any right, title, and interest of the CRA in and to adjacent streets, alleys, or rights-of-way together with any improvements, fixtures, and personal property situated on and attached to said parcels, in exchange for the conveyance by the CITY to the CRA of the City Parcels, together with all rights and appurtenances pertaining to the real properties, including any right, title, and interest of the CITY in and to adjacent streets, alleys, or rights-of-way, together with any improvements, fixtures, and personal property situated on and attached to said parcels. The CITY and the CRA hereby waive any and all warranties, express or implied, and understand and accept that the City Parcels and the CRA Parcels are being transferred in AS IS condition. The transfer of title of the City Parcels and the CRA Parcels shall be effectuated by Quit Claim Deed in substantial compliance of approved form attached hereto in Exhibit C and Exhibit D. 2. REPRESENTATIONS AND WARRANTIES: The CRA and the CITY hereby represent and warrant to each other as follows: a) There are no parties in possession as lessees, tenants at sufferance, or trespassers of any portion of the CRA Parcels and the City Parcels, except as disclosed below: r Commercial Lease Agreement by and between the CRA and Glaston Sims d/b/a Alex Sims Barber Shop. Month to Month Lease with a total monthly rent amount of $710.36 dollars for Unit A of building located at 909 N Seacrest Boulevard, Boynton Beach, Florida 33435 (CRA Parcel 5). Commercial Lease Agreement by and between the CRA and Solomon Mack and Evangeline Mack d/b/a Ruby's Beauty Center. Month to Month Lease with a total monthly rent amount of $515.46 dollars for Unit B of building located at 909 N Seacrest Boulevard, Boynton Beach, Florida 33435 (CRA Parcel 5). b) There is no pending or threatened condemnation or similar proceeding or assessments affecting the CRA Parcels and the City Parcels, or any part thereof. c) There are no unpaid assessments or unpaid taxes relating to the CRA Parcels and the City Parcels, except for the following: Tax. Certificate No. 2003-012683 affecting property located at 137 Martin Luther I9ng Boulevard, Boynton Beach, Florida (CITY Parcel 5) which shall be paid at closing. Municipal Liens imposed by Resolution No. 01-45 affecting property located at NW 11 tit Avenue, Boynton Beach Florida (CRA Parcel I) which shall be paid at closing. r d) The CRA Parcels and the City Parcels have full and free access to and from public highways, streets, or roads and, there is no pending or threatened governmental proceeding which would impair or result in the termination of such legal access. 3. CONDITIONS PRECEDENT TO CLOSING: The conditions precedent to consummate the exchange as contemplated by the terms and provisions of this Agreement are subject to the satisfaction of each of the following closing conditions (any of which may be waived in whole or in part by the CITY and CRA): a) Acceptability of Title. The CITY and the CRA shall obtain a title search report on each of the City Parcels and CRA Parcels, respectively. Each party shall give written notice to the other party on or before the expiration of ten (10) days after receiving such results of title that the condition of title as set forth therein is or is not satisfactory. On receipt thereof the CITY or the CRA shall promptly undertake to eliminate or modify all objections to the reasonable satisfaction of the other party. In the event the CITY or the CRA is unable to respond to objections within ten (10) days after receipt of written notice, this Agreement shall thereupon be null and void for all purposes; otherwise, said condition shall be deemed to be acceptable, and any objection thereto shall be deemed to have been waived for all purposes. r b) Survey. The CITY and CRA shall furnish a current boundary survey of each of the City Parcels and the CRA Parcels, prepared by a licensed and registered surveyor. The CITY and the CRA will have ten (10) days after receipt of such survey to review and approve same. In the event such survey discloses encroachments or other issues that are unacceptable to the CITY or to the CRA, then said party shall notify the other of such fact. 2 If the CITY or the CRA chooses not to take actions to correct unacceptable portions of the surveyor is unable to do so, then the CITY or the CRA may terminate this Agreement. c) Lien Search. The CITY and the CRA shall deliver a clear lien search report on each of the City Parcels and the CRA Parcels, respectively. d) Board Approval. The CITY and the CRA shall obtain approval from its governing body on or before ,2010. 4. CLOSING DATE AND COSTS: The closing of the land swap transaction shall be conducted by the law firm of GOREN, CHEROF, DOODY & EZROL, P.A. within fifteen (15) days of execution of this Agreement. The CITY shall pay for the costs of title search reports and surveys for each of the City Parcels; nominal documentary stamps on the deed; attorney's fees and the recording costs of the deed from the CRA in the public records of Palm Beach County, Florida. The CRA shall pay for the costs of title search reports and surveys for each of the CRA Parcels; nominal documentary stamps on the deed; attorney's fees and the recording cost of the deed from the CITY in the public records of Palm Beach County, Florida. 5. MISCELLANEOUS PROVISIONS: a) Governing Law. This Agreement shall be governed by the laws of the State of Florida. Venue shall be in the Federal or State Courts in Palm Beach County, Florida. b) Entire Agreement. All prior understandings and agreements between the CITY and the CRA with regard to any subject matter contained herein are merged in this Agreement. This Agreement completely expresses their full agreement. Any modification of this Agreement shall be in writing and executed by the parties. c) Effective Date. This Agreement shall be deemed effective as of the last date that the document is executed by either all of the parties and the Escrow Agent. d) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be and shall be taken to be an original and all collectively deemed one instrument. The parties hereto agree that a facsimile copy hereof and any signatures hereon shall be considered for all purposes as originals e) Radon Gas. Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health unit. f) Severability. In case anyone or more of the provisions contained in this contract shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision thereof and this contract shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein. 3 r IN WITNESS WHEREOF, the parties have executed this Agreement on the date fIrst mentioned above. CITY OF BOYNTON BEACH, a Florida Municipal corporation ATTEST BY: By: Jose Rodriguez, Mayor City Clerk Date executed: BOYNTONBEACHCO~TY REDEVELOPMENT AGENCY ,..... Witness By: Title: Witness Date executed: r 4 EXHIBIT A CITY PARCELS LEGAL DESCRIPTION 1. PCN 08-43-45-21-10-005-0090 / Martin Luther King Boulevard Lot 9, Block 5 of 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. 2. PCN 08-43-45-21-10-005-0100 / Martin Luther King Boulevard Lot 10, 11, 12 and 13, Block 5, of Palm Beach Country Club Estates, according to the map or plat thereof as recorded in Book 11, Page 43, Public Records of Palm Beach County, Florida; 3. PCN 08-43-45-21-04-000-0202/206 Martin Luther King Boulevard South 100 feet of the West 5 feet of Lot 20, and Lots 21 and 22 of ROBERT WELLS' SUBDIVISION, according to the plat thereof, as recorded in Plat Book 11, Page 66 of the Public Records of Palm Beach County, Florida, LESS the North 10 feet for road right-of-way purposes. 4. PCN 08-43-45-21-10-004-0130 /151 NE 9th Avenue Lot 13, Block 4 of 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. 5. PCN 08-43-45-21-25-001-0040 /137 Martin Luther King Boulevard Lots 4 and 5, Block 1 of FRANK WEBBER ADDITION TO BOYNTON, according to the plat thereof, as recorded in Plat Book 9, Page 3 of the Public Records of Palm Beach County, Florida, LESS and EXCEPT the South 10 feet thereof. 6. PCN 08-43-45-21-27-001-0260 / NE 10th Avenue The East Y2 of Lot 26, Block 1 of E. ROBERTS ADDITION, according to the Plat thereof, as recorded in Plat Book 1, Page 123 of the Public Records of Palm Beach, County, Florida. 5 r EXHIBITB CRA PARCELS LEGAL DESCRIPTION 1. PCN 08-43-45-21-24-000-0101/ NW 11th Avenue The North 100 feet of Lot 10 of MEEKS ADDITION TO BOYNTON, according to the plat thereof, as recorded in Plat Book 9, Page 54, LESS and EXCEPT that portion of the East 50 feet of the North 100 feet lying East of the proposed Westerly right-of-way line of Seacrest Boulevard, as conveyed to the State of Florida by deed recorded in Official Records Book 2840, Page 1870 of the Public Records of Palm Beach County, Florida. 2. PCN 08-43-45-21-24-000-0103/ North Seacrest The South 50 feet of Lot 10 of MEEKS ADDITION TO BOYNTON, according to the plat thereof, as recorded in Plat Book 9, Page 54, LESS and EXCEPT the East 20 feet conveyed to the State of Florida by deed recorded in Official Records Book 2840, Page 1874 of the Public Records of Palm Beach County, Florida. 3. PCN 08-43-45-21-19-000-0130 /124 NW 11th Avenue The East 50 feet of the West 456.03 feet of Lot 7 of WM. M. LANEHARTS SUBDIVISION, according to the plat thereof, as recorded in Plat Book 1, Page 35 of the Public Records of Palm Beach County, Florida. 4. PCN 08-43-45-21-09-000-0012/112 NW loth Avenue ,... I Lot 1, LESS the West 7.5 feet thereof, IllLLTOP VILLAGE, according to the plat thereof, as recorded in Plat Book 24, Page 70 of the Public Records of Palm Beach County, Florida. 5. PCN 08-43-45-21-07-004-1450 /909 North Seacrest Lot 145, Block D of BOYNTON fiLLS, according to the plat thereof, as recorded in Plat Book 4, Page 51, LESS and EXCEPT that part of Lot 145, Block D which is included in the external area formed by a 20 foot radius arc which is tangent to the Northerly line of said Lot 145 and tangent to the East line of said Lot 145, of the Public Records of Palm Beach County, Florida; 6. PCN 08-43-45-21-07-004-1460 /905 North Seacrest Lot 146, Block D of BOYNTON IllLLS, according to the plat thereof, as recorded in Plat Book 4, Page 51 of the Public Records of Palm Beach County, Florida. 7. PCN 08-43-45-21-07-004-1470 /103 NW 8th Avenue Lot 147, Block D of BOYNTON fiLLS, according to the plat thereof, as recorded in Plat Book 4, Page 51, LESS and EXCEPT that part of Lot 147, Block D which is included in the external area formed by a 20 foot radius arc which is tangent to the East line of said Lot 147 and tangent to the South line of said Lot 147, as conveyed to the State of Florida by deed recorded in Official Records Book 2840, Page 1850 of the Public Records of Palm Beach County, Florida. r 6 EXHIBIT C QUIT CLAIM DEED FROM CITY TO CRA PNC: 08-43-45-21-10-005-0090 08-43-45-21-10-005-0100 08-43-45-21-04-000-0202 08-43-45-21-10-004-0130 08-43-45-21-25-001-0040 08-43-45-21-27-001-0260 OUIT CLAIM DEED THIS QUIT CLAIM DEED made on this _ day of ,2010 by and between the City of Boynton Beach, a Florida municipal corporation, whose post office address is 100 E Boynton Beach Boulevard, Boynton Beach, Florida 33435 (hereinafter referred to as "Grantor") and the Boynton Beach Community Redevelopment Agency, a Florida public body corporate and politic created pursuant to Section 163.356 F.S, whose post office address is 915 South Federal Highway, Boynton Beach, Florida 33435 (hereinafter referred to as "Grantee"). "Grantor" and "Grantee" are used for singular or plural, as context requires. WITNE S SETH: That Grantor, for and in consideration of the smn of Ten Dollars ($10.00) in hand paid by Grantee, receipt whereof is hereby acknowledged, has granted, bargained and quit-claimed to said Grantee and Grantee's successors and assigns forever the following described real property situate, lying and being in PALM BEACH County, Florida, to wit: SEE A TTACHED LEGAL D~CRlPTION IN EXHIBIT A SUBJECT TO: Taxes for current year and subsequent years, restrictions, reservations, easements and other matters of record. To Have and to Hold the same together with all and singular the appurtenances thereunto belonging or in anywise appertaining, and all the estate, right, title interest, lien, equity and claim whatsoever of Grantor, either in law or equity, for the use, benefit and profit of said Grantee forever. IN WITNESS WHEREOF, Grantor hereunto sets Grantor's hand and seal the day and year first above written. Signed, sealed, and delivered in the presence of: CITY OF BOYNTON BEACH Witness By: Jose Rodriguez, Mayor (Print Name) Witness (Print Name) 7 (... (.... r STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me this _ day of , 2010 by Jose Rodriguez, as Mayor of the City of Boynton Beach, a Florida municipal corporation, on behalf of the City, who is personally known to me or has produced a Florida Driver's License as identification. NOTARY PUBLIC 8 EXHIBITD QUIT CLAIM DEED FROM CRA TO CITY PNC: 08-43-45-21-24-000-0101 08-43-45-21-24-000-0130 08-43-45-21-19-000-0130 08-43-45-21-09-000-0012 08-43-45-21-07-004-1450 08-43-45-21-07-004-1460 08-43-45-21-07-004-1470 OUIT CLAIM DEED THIS QUIT CLAIM DEED made this _ day of July, 2008 between the Boynton Beach Community Redevelopment Agency, a Florida public body corporate and politic created pursuant to Section 163.356 F.S, whose post office address is 915 South Federal Highway, Boynton Beach, Florida 33435 (hereinafter referred to as "Grantor") and Habitat for Humanity of South Palm Beach County, Inc., a Florida non-profit corporation whose post office address 100 East Linton Avenue, Delray Beach, Florida 33483 (hereinafter referred to as "Grantee"). "Grantor" and "Grantee" are used for singular or plural, as context requires. WITNES SETH: That Grantor, for and in consideration of the sum of Ten Dollars ($10.00) in hand paid by Grantee, receipt whereof is hereby acknowledged, has granted, bargained and quit-claimed to said Grantee and Grantee's successors and/or assigns forever the following described real property situate, lying and being in PALM BEACH County, Florida, to wit: SEE AITACHED LEGAL DESCRIPTION IN EXHIBIT A SUBJECT TO Grantor's reversionary interest as more definitively described in that certain Development Agreement entered into by and between Grantor and Grantee dated June 10, 2008, being simultaneously recorded with this deed in the Public Records of Palm Beach County, Florida. To Have and to Hold the same together with all and singular the appwtenances thereunto belonging or in anywise appertaining, and all the estate, right, title interest, lien, equity and claim whatsoever of Grantor, either in law or equity, for the use, benefit and profit of said Grantee forever. IN WITNESS WHEREOF, Grantor hereunto sets Grantor's hand and seal the day and year first above written. Signed, sealed, and delivered in the presence of: BOYNTONBEACHCO~ REDEVELOPMENT AGENCY Witness By: Title: (Print Name) Witness (Print Name) 9 r r' , (- STATE OF FLORIDA COUNTY OF PALM BEACH The foregoing instrument was acknowledged before me this _ day of , 20 I 0 by , as of the Boynton Beach Community Redevelopment Agency, on behalf of the Agency, who is personally known to me or has produced a Florida Driver's License as identification. NOTARY PUBLIC H:\201O\IO0219\LWld Swap Agreement.doc 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 This item was moved to Old Business. IX. Public Comments: (Note: comments are limited to 3 minutes in duration) Chair Taylor opened the floor for public comment. No one coming forward, Chair Taylor closed the public comment. X. Old Business: A. Consideration of Revisions to Commercial Fa~ade Grant Mr. Simon explained this item was to consider two amendments to the Commercial Facade program that the Board approved last summer. Since the program was active this year, they had several occasions where landlords did not take part in the program or tenants did not take part because of a language glitch. Section 7 of the application read, "The Facade Grant may only be used one time in a 5- year program for anyone property." Examples of locations affected because of the language were the Woolbright or Sunshine Square Plazas, marina, and Las Ventanas, because they were one property with multiple bays for commercial or potential facade grant users. The landlords did not want to sign off, under the current language, because if they decided to upgrade to a larger-scaled project in the future, they could not apply for the grant because one of their tenants already received one. Mr. Simon proposed language to indicate "anyone applicant" as opposed to the property owner. This would allow the tenant to make the improvement. The owner would still have to sign off. There was consensus the Board was amenable to the change. The next item was to refine the program to eliminate people receiving grant funding 90 days after the work was finished. There were some applicants that heard about the program after the work was completed and they applied for reimbursement. Staff had no say or input over the matter. It was thought the program should be managed consistent with the way the other programs were, which was for applicants to approach the CRA first and then do the work. It took two weeks to 30 days to process the application and issue the reimbursement. If the revision was approved, work currently in progress would not be covered under the grant. It was noted reimbursement after the fact did not occur often, but staff felt it was appropriate that the Community Redevelopment Agency not reimburse applicants for work already done. There was Board consensus regarding the second change. B. Consideration of Land Exchange between the City and CRA 7 r . Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 Ms. Brooks explained staff had been working on this item since 2005. Since both parties had land, it was proposed the City would take the land on the west side of Seacrest and CRA take the land on the east side of Seacrest so the CRA could aggregate parcels into a size more appropriate for development. The agenda item contained a listing of each property the Community Redevelopment Agency owned on the west side of Seacrest and the City owned on the east side of Seacrest and what was paid. The City properties were obtained via tax deed since the Property Appraiser offers the property to cities first. The Community Redevelopment Agency paid $900,000 for property on the west side that was proposed to be given to the City for the expansion of Sara Sims Park and included a block of single-family homes. The Board had a previous discussion about staff approaching the City to consolidate properties and having a combined RFP. The thought was there should be one owner for the developer to work with. Both parties would work together on the RFP and the matter was discussed with Quintus Greene, Development Director, Kurt Bressner, City Manager, Lori LaVerriere, Assistant City Manager, Lisa Bright, Community Redevelopment Agency Executive Director and Ms. Brooks, but there was still discussion of aggregating the properties. The RFP would be issued jointly by the City (...... and Community Redevelopment Agency. If aggregated, the CRA plan was for the east side to be developed as multi-family, which was consistent with the Heart of Boynton (HOB) plan except for the corner, which was designated as commercial. The Community Redevelopment Agency owned both parcels on the south side of the comer. REG recently performed a feasibility analysis for an incubator there, but staff still had to review the economic, land, site and other feasibility issues. Contingent on money being available to develop the parcel as multi- family, staff could issue an RFP for the south side, if the land were aggregated, because there would be a site large enough to attract someone. Eventually, single-family residential would be developed on the west side of the block adjacent to the elementary school and the south side of the property would be added to Sara Sims Park, which was in keeping with the plans the City had in 2005 and the Heart of Boynton plan. The road coming out on an angle would be closed off as part of the Seacrest Streetscape project. Mr. Greene, confirmed Ms. Brooks' statements. The City was looking to assemble a developable parcel on the east side by combining property large enough to attract a developer, market conditions permitting. On the west side, south of MLK Boulevard, the plans were to expand Sara Sims Park. On the north side, in the block bounded by MLK Boulevard, 11 th, Seacrest and NW 1 st Street, the City planned to redevelop that block with single-family housing. The idea, as contained in the HOB plan, was they needed to r bring back to the community a balance of affordable multi-family and single-family 8 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 housing in the core of Boynton. On the west side, they hoped to have new single-family homes adjacent to a magnet school, a redeveloped park across the street for new multi- family homes and some neighborhood commercial. The plan was consistent with the HOB and they were moving in that direction. Mr. Greene expected the Community Development Corporations (CDCs) would playa role in the development. Vice Chair Hay commented the development has been a long time in coming and it would be a positive influence to inform the residents development was forthcoming. He inquired whether staff had something concrete they or he could share with the public or a timeline for such development. Ms. Brooks explained next month, staff would bring back a feasibility analysis for the Roberts property and the Jesus House of Worship for a small business incubator for office and retail for the Board's review and discussion. Staff was attempting to close the economic circl~_ where they trained people and provided assistance and space they could use in the community to retain those individuals. Staff received a site analysis from REG and was determining what type of rent should be received, what kind of mortgage it could support, other items such as funding gaps, and whether the Board wanted to provide that gap to create an economic development engine for the area. The incubator space was an objective in the HOB Plan and was particularly consistent with a discussion the Board had last year. The best way to control the incubator was for the CRA to operate it. Many residents from the HOB who passed the free training classes would attend the next meeting and the Board could decide the matter then. Mr. Bressner, suggested the parties should be flexible with whether the RFP would be a joint endeavor since the development to the west may be different than the east. He agreed combining resources was a good idea, but there may end up being two different RFPs. He suggested rather than by motion saying it was a joint RFP, that it would be helpful for staff to have the flexibility to develop one or two RFPS, and make the decision later on. Ms Bright agreed with the City Manager to organize it differently because three RFPs could be needed. There was conversation the original discussion was to combine them to attract developers so there would be a greater opportunity for profit. It was clarified that the minutes from the February 9, 2010 meeting reflected there was a change in direction and the Board wanted the land swap first. The gist was development could be attracted even for a smaller block. Staff never intended to issue a joint RFP for the west side single-family development because they were still assembling parcels and the Community Redevelopment Agency would still provide assistance for it. They were talking about the east side of Seacrest on MLK Boulevard on the south side and aggregating a large enough parcel by combining ownership under one party that would be more attractive to a developer. This pertains to the land swap and the RFP would come later. 9 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 Motion Vice Chair Hay moved to have the CRA enter into an agreement for a land swap. Mr. Rodriguez seconded the motion that unanimously passed. C. Consideration of CRA Office Options The 211 East Ocean Avenue building was purchased in the spring of 2007 to implement the Ocean Avenue District and the downtown. The goals and objectives obtained, through public participation from the EDAW Downtown Master Plan, were: ~ public parking )0. gateways ~ redevelopment of the marina ~ green building ~ historic preservation y public art ~ public events and program activities ~ marketing and promotions ~ affordable housing ~ economic development and job creation ~ community policing Ms. Brooks explained, for the most part, staff was already implementing those goals or elements of them. The Ocean Avenue Cultural Corridor reflected a new identity where the public could visit, see public art, go to the library, attend a lecture, eat at the cafe and restaurants, and enjoy civic and office uses. Accordingly, staff was looking at infill mixed-uses. The idea was to bring together the different plans and create a unified vision. The two development anchors for the area were the marina and the cultural corridor. Staff proposed to start adding other uses to Ocean Avenue, which was a mixed bag of condominiums, apartments, Kenny's Market, Hurricane Alley and Chicago Joe's. They needed more retail there, as there was only a men's clothing store. Immediate implementation projects that would start to create the downtown were reviewed. One project would be the 211 East Ocean offices and art gallery. Staff proposed to add an original type porch to the structure. The doors to the building would remain open and the public could enter and view art from local artists. The art was for display only, but local artists could showcase their work and include their cards with their contact information. 10 .;,~..;-'-'~iIi~" "'~ ~-~'''''''~'''';.~~ _--,. li...,.......''''''.e.'~'-T~~,~''''-~'''"'''''''.'~~im'':..~''''I.:.;~ .~~4r'''~>&;~'\I1'ii.if~d~J,~t~:~'~'t'~-,....~~.;..Ai.t''I~-''''''~'....' -............-~...i,~~;~;i:lt.\~~~:.,,_~"~-~~~l'>_.~~,i^ x. OLD BUSINESS D. Consideration of Options for Magnuson House- TA.BLED April 13, 2010 1~ II1l11~<tY~Te~ eRA III East Side-West Side-Seas'lde Rena'lssance eRA BOARD MEETING OF: May 11, 2010 I I Consent Agenda IX I Old Business I I New Business Legal Other SUBJECT: Magnuson House Options - TABLED April 13, 2010 SUMMARY: . March 15,2010 - CRA Board moved to direct staff to implement the redevelopment of211 East Ocean Avenue as a Community Redevelopment Agency office. . April 13, 2010 - The Board members did not want the Magnuson House project to languish or be delayed. Chair Rodriguez articulated he would formulate a plan with the Executive Director and present it to the Board at the next meeting. . April 14, 2010 - Chair Rodriguez met with the Executive Director and advised only three usage options were available to renovate the building: commercial use, restaurant and office. Staff agreed to finalize costs for each ofthe conversion options. Option A - Commercial- (no expansion ofthe building) estimated costs: $289,062-$349,375 Option B - Restaurant - (100 seat capacity with a 1,485 sq. ft. expansion of building) estimated costs: $734,110-$805,235 Option C - Office - (1,750 sq. ft. building expansion) estimated costs: $850,000 Option D - Sell the building Option E - Donate the building to a nonprofit Option F - No action FISCAL IMPACT: Varied depending on option selected. CRA PLAN, PROGRAM OR PROJECT: Downtown Master Plan and Ocean District Plan. RECOMMENDATIONS: Vote on an option and direct staff to proceed with implementation. f- T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Magnuson House Options.doc C'-........ ~~ ::!~~::~ I III ~:~~ 8:<H: ~;t ~ .. 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I. .-11. ~ ~ ~ I ,t ~ '1IIi!I.'1 ~ ! ~ u I .I..al! ~ ~ ~ rt c.f.) c.f.) c.f.) <:> <:> 8 Irl - ~ r- ~ r- r- Irl N ~ - 'C' 8 ~ ~ ~ "0 '-' G,) C; "0 'S: .~ e G,) ~]. ~ u 8 =~ = ~ c:l 8 .c o .- S :.w '';:: s e ~ O'~ 0 ~ '" ~~ ~~ 00 C"'i -< u c o ._ I .,q A.r O~ . ~ ( '\ ~ c \.)! ~ ~ ~U~ (.... CJ........ ~~II:= ..~..: 1.1~..~o ...;..:ta. 0:"'.....: IClt;o.1u ......,,, :Sf: ~~ii:=: I il1 8D<Be:"::;::t ~ : ~..:: ir- - '" ~~ ~i! "'I~~:<,;,; ~!! OJ wI Q~~I i~ o -n~ - ~- !'i::: ~o (j i:i=: ..=:il!~ 8 <.:>~ ~~ ~~ i~!; ~ d 1 ~1m1; ~ ~ ~ ~~'I!I!!i~~I' ~~~~ .8.g -3" ~ 1 ~ · 11iif'~ ~ ~g ~ ~ j ~ i ~ ~ ~ ~ i I ~ ~ iI!I;;d!1 ~ N ~ I " ~ O/J c o ;: ~ o c ~ II ~ C III II ~ o iii .. .. N Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13,2010 rather at the front entrance. She requested consideration be given to her because visitors to the Marina made it a practice to knock on her door for information. Chair Rodriguez agreed Ms. Simmons had a valid point and believed the continual interruption by visitors impacted her business. As such, he requested staff come back to the Board in the near future with recommendations that would best serve Ms. Simmons, the community and visitors to the Marina. The motion passed unanimously. G. Downtown Master Plan Implementation Strategies and Funding Options- Powerpoint Presentation The Board recessed at 9:28 p.m. and reconvened at 9:34 p.m. Ms. Brooks provided a brief history of the Downtown Master Plan (DMP). The process began in 2007 and was completed in March 2008. The DMP was adopted in January 2009 and amended to cover policing and infrastructure costs. Goals and objectives included the creation of public parking and gateways, redevelopment of the Marina, green building, historic preservation, public art, public events and activities, marketing and promotion, affordable housing, economic development, job creation and community policing. With regard to public parking, the CRA purchased half a block at 1st Street and 1st Avenue to provide parking for the Old High School. In addition to the 126 public parking spaces owned by the CRA in the Marina Village Condominium project, the CRA would have 100 public parking spaces in the Promenade Condominiums. The CRA designed the entryway feature for the Marina at the east end of the downtown area. Wayfinding signs were purchased for civic functions held downtown. The CRA purchased 24 Marina slips and the dive shop building to preserve the marine economy in Boynton Beach. A structure north of Two Georges Restaurant was purchased to create public access to the waterfront. A Master Plan was created at the Marina to enhance public access to the water and new piers, pilings and docks would soon be completed. The sum of $2 million had been received from Palm Beach County for the preservation activity. A green incentive program, which included brownfield designations, had been drafted. Staff was working with the ULI (Urban Land Institute) to refine the program so that it could be used in other cities and areas of the country. 23 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Although a historic preservation ordinance had not yet been created, a list of eligible properties had been maintained. Two properties set forth on the list, the Jones Cottage and the Magnuson House, were purchased by the CRA. In order to support historic preservation, the CRA had purchased a parking area at the Old High School for future uses. The Butterfly Mandela was purchased for Sara Sims Park and public art had been added to the Seacrest Streetscape project that would be paid for by the federal government. Public art gallery space was being designed in the Magnuson House and the CRA paid for the Dumpster Art Program in the CRA district. The regularly-scheduled concerts and movies were relocated from the beach to Ocean Avenue and five annual events were added without any increase in budget or staff. The Palm Beach International Film Festival was brought to the City and CRA staff coordinated the Artavox event with the City's Arts Commission. A joint event was staged with the Chamber of Commerce for downtown merchants and sponsorship dollars were raised to support events. The CRA's annual State-required report was recognized by the International Downtown Association. Google Map was launched for area businesses and the CRA's website was revised. Social media included Pod casts , Facebook and Twitter. The trolley program was promoted and a $13,000 advertising contract had been secured. The downtown development sites were marketed at the International Conference last year and the FYI newsletter was distributed throughout the City. The Homebuyer's Assistance Program (HAP) had been funded and an RPF (Request for Proposals) had been issued for Ocean Breeze. Staff had coordinated with non-profits and private sectors for the development of 14 single-family homes. The CRA was the recipient of the President's Award from the Florida Redevelopment Association for its urban infill single-family housing program. Three new economic development programs were developed and the Commercial Fac;ade Grant Program had been in operation for six years. The CRA created the brownfield designation, Small Business Development Program and a database for all CRA businesses. The CRA Police had been in place for three years, resulting in a significant reduction in prostitution on Federal Highway and crimes across all categories. The Master Plan area stretched from Ocean Avenue to the C-16 Canal and recognized the Heart of Boynton (HOB) as a neighborhood to the downtown. Ocean Avenue was 24 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 designated as the cultural corridor and included the Library, Schoolhouse Children's Museum, Old High School and anticipated private art galleries. Staff had identified funding sources for the Marina entry feature, Amphitheater, Jones Cottage relocation and Magnuson House renovation and these projects could be completed in one or two years. A use would be determined for the Old High School at a later date. The Seacrest Streetscape project would begin in June. Negotiations would commence with Auburn Development for the Ocean Breeze East project and a small business incubator was under consideration at MLK and Seacrest Boulevards. The proposed entry feature at the Marina would be large in scale with a signage element approximately 30 feet high. The feature would be landscaped and softly lit at night. A park-like setting would be created, and a public art sculpture would be featured. Staff recommended the information/welcome area be located outside the dive shop area. The current stage at the Amphitheater to the east of the Schoolhouse Children's Museum would be replaced with an enlarged covered and lit stage. Chairs would slide under the stage for storage. The stage itself would measure approximately 965 square feet and would accommodate the concerts and movies currently held on Ocean Avenue. The Jones Cottage was built with Dade County Pine, measured 1,000 square feet and featured a coquina fireplace and chimney. The Cottage would be renovated to Code and would provide restrooms for the handicapped. It was staffs intention to relocate the structure to Ocean Avenue for use as a restaurant or retail space. A 450 square-foot public art gallery was proposed for the front of the Magnuson House which would be managed by the Public Art Administrator. Lighting and speakers would be installed on the porch to accommodate local musicians. The space would be available for public receptions and local artists and a public art sculpture would be installed in the front yard. The structure currently measured approximately 1,800 square feet, but would increase to 3,200 square feet with the suggested improvements. There had been no significant private interest in renovating the space for office use unless an elevator was installed for commercial value. Chair Rodriguez suggested consideration be given to a use that would most favorably impact Ocean Avenue, whether a CRA office space, small gallery or other use. The estimated budgets for the projects were as follows: 25 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 . Marina entry signage feature $200,000 . Amphitheater 225,000 870,000 . Magnuson House . Jones Cottage relocation and renovation 200,000 A contingency of $145,000 was anticipated with the cost of the projects totaling $1,640,000. Financing sources were as follows: . $150,000 left over from the Marina project. . $500,000 from the 4th Street project. . $100,000 reallocated from the Residential Improvement Program (RIP). . $490,000 rolled over from the fiscal year 2008/2009 audit. . $400,000 from the mortgage on the Magnuson House. The longer-term projects were comprised of the following: . The Old High School. . Small business incubator on MLK Boulevard. (Staff was engaged in negotiations with non-profit organizations regarding the construction of incubator bays.) . The remainder of the Marina (funding would be determined). . City Hall/Police Station. (Locations and funding sources would be determined. While these facilities were located in the CRA district, public facilities could not be funded with CRA dollars.) Although the CRA maintained a strong financial position, its bonding ability could not be exercised until 2011 or 2012. Discussion ensued on the projects as follows: 26 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 . Marina Entry feature. Mr. Holzman felt the Marina was in need of a "facelift" and an entry feature would add a great deal from both a residential and commercial standpoint. He noted the owners of facilities at Marina Village reacted positively to the entry feature. Mr. Orlove hoped the Arts Commission would be involved in the utilization of the space for public art. Ms. Bright explained this project focused on the signage feature while capturing the existing art as part of the process. Staff would continue its ongoing dialogue with the Public Art Administrator. Chair Rodriguez was concerned the waterway would be obscured by the foliage and suggested this be explored. Upon consensus, the Board agreed to the entry feature. . Amphitheater. Ms. Brooks advised staff had requested REG Architects install a cover for the Amphitheater which added to the cost of the project. The Amphitheater would accommodate 500 people. Chairs would not be purchased in the current phase and additional monies were factored in for the design and architectural costs. Rick Gonzales, REG Architects, advised the storage space would amount to approximately 1,000 square feet under the footprint of the building area and a handicap lift and steps would be installed to the right of the structure. The canopy would provide shade and protection from inclement weather, would meet wind load requirements and would enjoy a life cycle of 20 years. On consensus, the Board agreed to the Amphitheater. . Jones Cottage Relocation/Renovation. It was Ms. Brooks' understanding that interest had been expressed by the community for a restaurant at the location. With the current configuration, three of the 23 parking spaces would be lost. However, parking was available in the vicinity and consideration was being given to opening up and resurfacing a nearby unused City parking lot. On consensus, the Board agreed to the Jones Cottage project. . Magnuson House. (Art gallery/offices.) 27 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 Mr. Holzman expressed his preference that the building be retrofitted for a restaurant which he felt would add to the value of the neighborhood. If the downtown were viable, use of the space for an office would make sense. Mr. Orlove believed office space did have value because it would reflect the CRA's interest in developing Ocean Avenue and provide a home for the CRA. He did not want the street to become one entity and envisioned it as more of a casual, relaxed mixed use. The site was just one spot on a street that had other opportunities. Vice Chair Hay concurred with Mr. Orlove and believed locating the CRA at the site would convey a sense of commitment. Ms. Ross supported the project from the onset, and now that the art gallery concept had expanded, she appreciated the project even more. Chair Rodriguez did not believe relocating the CRA to the property reflected a commitment to develop the downtown or validated the purpose of the CRA. Delray Beach officials had taken a strong position on what it allowed on Atlantic Avenue which was crucial to economic development. As such, Delray's CRA was not located on Atlantic Avenue. Chair Rodriguez had contacted developers and attorneys, inquiring where they felt the CRA office should be located in Boynton Beach. They believed the space should not be used for an office, but rather for a business or restaurant that would provide economic development opportunities. They suggested the CRA be located in the area but on a side street. There were a number of other properties close to Ocean Avenue that were less expensive which could be purchased for the CRA offices. Chair Rodriguez offered these suggestions to the Board. Mr. Holzman pointed out the Delray Beach eRA had been moved to its current location after the downtown had regenerated itself. The Boynton Beach CRA continually erred by utilizing prime real estate for non-economic drivers. Ms. Ross did not feel Boynton Beach should emulate Delray Beach. Atlantic Avenue was directly accessible from 1-95 while Ocean Avenue was not. She believed it could be beneficial to the Delray Beach CRA to have its office on Atlantic Avenue. Alternatives for the CRA offices were discussed. Ms. Bright explained it would be possible to rent office space on a month-to-month basis at the new medical office building ($5,000 per month) or at the Bed and Bath Plaza on Federal Highway ($3,000 per month). Build-outs at a cost of $25,000 would be required for either location. The CRA's current lease would be expiring at the end of May, and it was hoped the building 28 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, Florida April 13, 2010 would be sold. Concerns were raised in that the CRA would be forced to relocate twice if it were to rent elsewhere and then move into the refurbished space. Following a lengthy discussion, Chair Rodriguez proposed the Board move forward with the other three projects and table the Magnuson House item. The additional time would provide an opportunity for CRA staff to explore other options and for the Board to review the financials relating to the Magnuson House. There were no financing issues with the other properties. Vice Chair Hay and Mr. Holzman agreed the item should be tabled in order for other options to be explored. Mr. Orlove did not object to tabling the matter. Ms. Ross felt that the community meetings and feedback received provided clarity and believed the Board was ready to make a decision. She added it was important the project comply with the provisions of the Downtown Master Plan (DMP) calling for 20,000 square feet to be used for art. Ms. Bright emphasized that she had always attempted to move the Magnuson House project forward. During the 2009/2010 budget workshops, she presented program options for 211 East Ocean (the Magnuson House) to: (1) landbank; (2) renovate/add; (3) lease as residential; (4) sell and (5) create a public sculpture garden. The Board members did not want the Magnuson House project to languish or be delayed. Ms. Bright explained it would be necessary to issue an RFP (Request for Proposals) to determine the community's interest in the use for the property. Chair Rodriguez articulated he would formulate a plan with the Executive Director and present it to the Board at the next meeting. Chair Rodriguez requested a motion for acceptance of the three remaining projects. Motion Ms. Ross moved to approve Items #1, #2 and #3 on the Downtown Master Plan strategies and funding options. Mr. Holzman seconded the motion. Chair Rodriguez invited public comments. Steve Skaggs, 728 Casa Loma Boulevard, was in favor of the entry feature proposed for the Marina. As he had received numerous inquiries about other dive boats, he felt there was a tremendous need for signage. Additionally, signage would be helpful at the 29 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15,2010 Motion Vice Chair Hay moved to have the CRA enter into an agreement for a land swap. Mr. Rodriguez seconded the motion that unanimously passed. C. Consideration of CRA Office Options The 211 East Ocean Avenue building was purchased in the spring of 2007 to implement the Ocean Avenue District and the downtown. The goals and objectives obtained, through public participation from the EDAW Downtown Master Plan, were: ~ public parking ~ gateways ~ redevelopment of the marina ~ green building 'r historic preservation 'r public art ~ public events and program activities 'r marketing and promotions ~ affordable housing }r economic development and job creation ~ community policing Ms. Brooks explained, for the most part, staff was already implementing those goals or elements of them. The Ocean Avenue Cultural Corridor reflected a new identity where the public could visit, see public art, go to the library, attend a lecture, eat at the cafe and restaurants, and enjoy civic and office uses. Accordingly, staff was looking at infill mixed-uses. The idea was to bring together the different plans and create a unified vision. The two development anchors for the area were the marina and the cultural corridor. Staff proposed to start adding other uses to Ocean Avenue, which was a mixed bag of condominiums, apartments, Kenny's Market, Hurricane Alley and Chicago Joe's. They needed more retail there, as there was only a men's clothing store. Immediate implementation projects that would start to create the downtown were reviewed. One project would be the 211 East Ocean offices and art gallery. Staff proposed to add an original type porch to the structure. The doors to the building would remain open and the public could enter and view art from local artists. The art was for display only, but local artists could showcase their work and include their cards with their contact information. 10 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 The 211 project could be implemented in 6-12 months. The structure would be redone with the new porch and an addition would be added to the back so it would not detract from the historic flavor. The structure would be very visible, lit at night and attractive. Another project that could be implemented was expanding the Children's Schoolhouse Museum amphitheater, which hosts events and assists with creating the downtown. In addition to expanding the amphitheater to hold bigger and better events, it could be upgraded to make it usable for sound, electrical, lighting, and include a handicap lift. The project would serve as a central destination location for people to frequent which would start generating traffic and interest in the downtown area. This project could be implemented within 6-12 months. There was discussion of the St. Augustine amphitheater and West Palm Beach adding a second amphitheater. Staff noted upgrading the amphitheater was not an expensive undertaking. The expansion would be basically wrapping what already existed with more concrete. There could be storage under the stage for chairs, eliminating the need to transport them from another location. The Children's Schoolhouse Museum could use it and it would fit in well with the cultural center they were discussing. The Jones Cottage, which was a historical structure, could be moved to the SW corner of Ocean Avenue, creating another piece of the retail fabric that was missing there. The project could be implemented within 12-18 months and staff discussed relocating it with the City. The Community Redevelopment Agency would move it, hook up utilities and lease it as a coffee house, restaurant, or other use. It was similar to the restaurant, Dada in Delray Beach, or the former Elwoods, now Johnny Brown's. It could serve eventually as a station for the FEC rail line. Staff noted in order for Ocean Avenue to be a destination, the gaps on the corridor had to be closed because pedestrians would not walk the full length of the corridor if there were gaps along the way. The Avenue could also be lighted. The goal was to create a 24-hour economy with people living, working and spending leisure time there. The Florida Department of Transportation approval letter for the marina entry feature on Ocean Avenue was just received. The entry marker was a Lighthouse with soft lighting and landscaping. The project was not difficult or expensive and could now be installed. Next month staff would bring back ideas, projects and funding sources. Long-term projects to accomplish in two to five years included the Old High School, once the use, design and funding was determined, and the overall Marina plan and the City Hall/police station. The 211 project would fit into the goal of implementing the downtown Master Plan. There were also other options available. The Community Redevelopment Agency office could remain at its present site or move to another location. There were two sites available that had the square footage the office needed and it was noted staff exceeded 11 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 the office capacity at its current location. One possible site was Flamingo Plaza, which was being upgraded and had about 3,000 square feet. The Board was advised the landlord would issue a credit to build out. Another option was the Office at Bamboo Lane at the south end of the district. If it was determined staff would not use the 211 East Ocean location for its office, it was requested the Board make a determination to sell the property, lease it, or create some type of public amenity so it addressed the implementation of the downtown master plan. Staff discussed those options at the budget hearing and Ms. Bright distributed those items to the Board. The 211 Ocean Avenue location was a historic site they would be preserving. The cost to renovate the structure would be $850,000. Staff would provide funding mechanisms to the Board and it was pointed out there were ways to reduce the amount due to the appraisal of the building covering the amount needed to make the improvements. Staff would provide an as-built appraisal to the Board and it was noted changing the location would double their space without doubling their rent. Chair Taylor expressed moving to the location situated the Community Redevelopment Agency office right in the middle of what the redevelopment area. He expressed owning was better than renting as it builds equity. He also favored the historic sense of the building, the preservation and the location. He was in favor of moving forward with the 211 location. Mr. Rodriguez commented of the three items discussed and which item would give the biggest bang for the buck but he felt the new location would be last on the list. If the Jones Cottage was moved to the corner for a restaurant, it would attract patrons. He suggested moving the Jones property. The amphitheater was the second item, which would draw people and kick start the area. While 211 was a priority, he felt the order to accomplish the tasks were to address the Jones property first, the amphitheater second and focus on the 211 property next year. Ms. Brooks noted the items were not mutually exclusive and they could all be done. Staff would bring the funding sources to the Board next month. Mr. Rodriguez suggested tabling the items until the funding sources were reviewed. The problem was their present office was for sale and their lease expired in May. If they were going to rent, they would have to build out, and contingent on the direction, they would have to move forward. Chair Taylor noted the agenda item pertained to moving to 211 East Ocean or not. Mr. Weiland was in favor of having the CRA office in the Heart of the Downtown area It showed the community they were committed to the area and he trusted the funding would be there in order to do all three items if the board desired. He would like to see 211 moved forward. 12 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 Ms. Ross liked the idea and pointed out the proposed office would have an art gallery at all times. Ms. Brooks noted if there was an art guild that would operate it on the weekend, that would be fine and arrangements could be made to man it as most guilds made arrangements for it to be manned. It would not cost them anything to display their work there. As to the funding, it would essentially be a mortgage. Mr. Rodriguez requested the item be tabled to the next month with the new Board members so the new funding sources could be discussed. The Community Redevelopment Agency owned the building and have owned it for three years. Susan Harris, Finance Director, conducted the analysis that they could carry a mortgage. The as-built was a 30% equity position. The project could be done within six to six to eight month overlap making double payments on the mortgage. The Agency had enough money to buy the equity in the building. Staff waited for the new Board regarding the presentation for the roll-over funds. When the two new members were seated, they could undo anything the Board did. Staff needed direction because their present location was for sale and the owners of the Tiki Motel were trying to buy the building for their corporate offices. Chair Taylor noted three Board members wanted to move forward with moving to 211 East Ocean and thought there was consensus to move forward with it. When it is brought back with the financing, the new Board can change redeveloping it. Vice Chair Hay understood the rental situation in May. He pointed out there was a tendency to look to the next Commission meeting or Board, and he was looking forward to working with the new members. He expressed, however, there should be a sitting objective as it sends a message to the community that they have a commitment. Staff was an award winning staff and it showed commitment that the Community Redevelopment Agency was an integral part of where they were moving with development. Ms. Ross appreciated Vice Chair Hay's comments. She inquired if the current Community Redevelopment Agency office was not sold by May whether staff would continue there on a month to month basis. Ms. Brooks explained staff needed to provide the landlord with some direction on what they were going to do. Right now if the building was sold, the owners next door were most interested and they would move into it. She did not know if the landlord would be amenable to holding over if the new owners would rent on a temporary basis, but if she let them know soon enough, they might accommodate the staff. It was not known what the renewal options and sale notice on the lease were. Attorney Cherof would have to review the document. 13 Meeting Minutes Community Redevelopment Agency Board Boynton Beach, FL March 15, 2010 Motion Vice Chair Hay moved to direct staff to implement development of 211 East Ocean Avenue as a Community Redevelopment Agency office. Mr. Weiland seconded the motion that unanimously passed. Mr. Rodriguez felt it was unfortunate that the Board decided to approve a project without knowing anything about the funding mechanisms, and it was not the way he wanted to do business moving forward. He felt it was not presented. Chair Taylor understood the funding. D. Boynton Harbor Marina Slip Reconstruction Project Update Mr. Simon gave a PowerPoint presentation on the Marina and provided a brief history. The marina was purchased in 2006 with the goal of renovating it. The Board purchased the dive shop and slips as part of the purchase. The Board approved the RFP in March 2009, and it was issued in June. On September 8,2009, the Board approved Shoreline Foundation for the work and the contract was signed on October 12,2009. There were 24 slips in varying states of disrepair. The docks, pilings and decks were antiquated. The project consisted of replacing them, maintenance dredging of the basin and installation of 19 new aluminum new fixed-framed docks, and Epie hardwood and decking with 50-year hardwood with a life of eight to 10 years. New concrete and wood pilings, new utilities, power pedestals and some other marina accessories would be installed. Photos of the items to be repaired were viewed. Mr. Simon elaborated the dredging was difficult for the contractor as there were 11 tenants in the marina. He applauded Brian Smith of Waypoint Marina, the dockmaster, as he was an incredible source of assistance. There were 72 sealed stainless steel trucks that removed the dredged material from the basin over a three-week period. The construction phase encompassed the demolition and pilings. Another larger barge was utilized for this process which was moved in and out of the marina five times a day to not impede business. Mr. Simon noted it was quite an undertaking. Photographs of the pilings were viewed. Seventy-six concrete pilings would be installed, 45 wooden piles, and 520 feet of dock, five-feet wide. He explained the project was a great project and the Board should be proud. The improvements greatly upgraded and enhanced the Marina and surrounding area and raised the Marina up to a whole new level. The project was on schedule and could come in under budget The project would be completed in April. NSP Foreclosure Information 14 ,,;,,~..;gr17"11lllill'_rma' w~ - -"f .... "'''''~lil~_~~t"'"'"--(~<~-'~t.... "<.~-<";');5.'''~~''';~~P~1't1ll'1My~'''''~>.iibi'1<<''"''~t'~w''f''f1'!\"'~'~~~...t~'~?i~&:~~~,;ii x. OLD BUSINESS E. Consideration of CRA Office Options r"" ~~~~Y~Te~ eRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I / Consent Agenda I X I Old Business I I New Business Legal I I Other SUBJECT: Consideration of CRA Office Lease SUMMARY: The CRA office lease ends May 31, 2010. The CRA office lease automatically becomes a month-to month lease. . In 2009, CRA staff renegotiated a lease rate reduction of $8,400 per year. Subsequently in March of2010 the property owner contacted the CRA staff and advised the property had been listed for sale. Upon execution of a sale and purchase agreement, the CRA office operations will have 30 days to vacate the premises and relocate. Attached is a spreadsheet with potential office relocation sites. FISCAL IMPACT: General Fund - 51620-209 - $20,000 (relocation expense) General Fund - 51620 -205- $40,000 to $60,000 (annual rent expense) CRA PLAN, PROGRAM OR PROJECT: Community Redevelopment Plan RECOMMENDATIONS: Approve one of the attached rental options and direct staff to negotiate a lease agreement. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\CRA office options.doc Boynton Beach eRA ~) "Ii ;' !'I' M=-,...J 1\ I /~ ' -::.~ \~ { '/-\..-1''' (1 .L. ~ _]1. . /--= ..... .__......1../1 ..~) " (~- ",\ ""') I) \ !l ..~J II I I /E- f 11 -;" ), 11 ' \......~, i ,f J .. -',: !., .<" I -~(rr;[[li I. l...1.-,....J~-1 tt .....:..-...,..- j -----.-/ (/") :/,1 f 5' (-'fr-:I'j- .--'1- (: .. _~<,.;f ~ ///111 1 l ;~,. h II ~ ~ _ _<~ /. I III -- J...tr= ~- -. I j I --- '\ '.~-_/ Ir III \ 1 - _-I ,~~ 'F.. r ,""'" .,: , 1/ r; , .!!!!!JIll --::;;"--t ~.:\r--r i I 7 dr~; 11-+~-s:1 -=.if- I ., r If'') __ i __ \ j r ;,i~i \ 11-'-\ \"-~'li11 ~ ~ ~ 1------ .. .:;;::::r--.'.'.' ~t '-lr-ar~-~-"I_ / f!~I,~5~~_~11L~ --J~r\' t~~ f ,~~ / ,~m. r-\T- T\ 1 l ~~ ,""'-f.=-.:-~- I ;jc~1 If i/; / \ i fi .~ \ I l I 2 .. L J' -....., !t j~ j r {j..:::, 1: I I . \. 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(' \ :1'"-=\ '-...Ji;;;;;- _J! __oP.L.. :.,,'~-~ i ~ - ~ :i--f11:~ - . /J/J.~~.{ r~~oh~j/~/~mR ~ ! " :,-;r--..:5- ~ ,;. II Jl / / k. --:::1i ~ .....p, IL~ ! I ifl .- ~ /1; !~ '~~1 I r=ipr1r il if -0- ( 1 . ! !!~ ~ ~.""'" Lbbb---il- -j ) _ I II//. /;;:;:. --- - iJ - Ii I--"""'.""--i ! 1/- '') } eRA Office Location Options (2,000 - 3,000 sq. ft.) May 2010 Montly Other Address RentlOwn Rentlpmt. Expenses/Credits Sq.Ft. Property Condition Comments 2,062 Property is listed to sell 1 Current Location Rent $ 3,300 standard maintenance (1,700 usable) Fair 2 3330 S. Federal Rent $ 5,000 $30,000 for build out 2,228 Excellent /Newly Constructed $17.68 + $9.25 CAM Cost of Build-out over 3 407 S. Federal Rent $ 3,600 $20,000 allowance 3,000 interior would have to be built out Parking is insufficient Las Ventanas - 507 E. $37 credit pro sq. ft. for 4 Woolbright Rent $ 5,520 build out 2,500 Excellent /Newly Constructed $18 + $8.50 Sunshine $40 credit pr sq. ft. 5 Square/WoolbrightlF ederal Rent $ 6,145 build out 2,500 Fair $20 + $9.50 ;""'~'_ .",. '1!' ~ ~'-V""i"1'f""~'lT'''''~ ...----'.-,...~....~-,'.....,.," ..~~-"h,~h.,'\','t'!f"~., """",",,,,...J...t,,,,,,, "~lr~""'~~"--"~" "'-~"'~~'-"""",","'~'" ,....~_. ,"".."'i,',,"<_,,,,,,,",,,,.,,, XI. EXECUTIVE DIRECTOR'S REPORT A. Small Business Development Program Survey and Testimonials from Students (1st Quarter Classes) I'" r"'" """ 1!~~~Y~T2~ eRA iIIi East SideN West SideNSeaside Renaissance eRA BOARD MEETING OF: Mayll,201O I I Consent Agenda I Old Business New Business Public Hearing I X I Other SUBJECT: Small Business Development Program Survey SUMMARY: At the April 13, 2010 CRA Board Meeting, Annette Gray, the instructor for the CRA's Small Business Development Program classes presented an analysis of the March 26,2010 graduating class results and experiences. Board Member Holzman inquired whether questionnaires and surveys had been distributed. The CRA Board approved contractor, The TED Center, has a contractual obligation to request students complete a survey at the end of every class administered. Attached are the results of the surveys and student testimonials. The entire student responses are to voluminous to reproduce; however, CRA staff will reproduce upon board member request. FISCAL IMPACT: None. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan and 2008 CRA Economic Development Plan RECOMMENDATIONS: None. id What was the most important part of the What was the least important part of the If you could change something about the If you have any additional comments, please program for you? program for you? program what would it be? share them here. Financials, Marketing Research, Business All parts are important, I would say the web part I would have more than one 5 hour session to I am planning on meeting some of you to 1 Resources and the opportunity to collaborate and just because that is my expertise. review the business plan together again. complete some of my interviews for the meet other future business oWners. documentary I have in progress. All the best. 1. Writing a business plans 2. Incorporating company 3. The small business development course has assisted me to Learning about different permits and licenses 4. Marketing 5. Offer the course Monday - Thursday so that more operate my business successfully. The hidden factors in running a 2 None. small business can be confusing and obscure. By taking the Financials Pretty much every part of the program was very applicants can be accepted into the program. course, I have learned the basic skills in starting, operating and important for me mainta 3 4 Accounting and financial More specifics I feel that the class was to general;most of the information provided can be found on the internet. 5 LEARNING TO FLY, -- ADD A SECOND FULL DAY. EXTRAORDINARY JOB ALL AROUND. 6 The teacher's experience was paramount! The length... I think that the program should have Nothing! been longer! Getting the information necessary for None. All aspects of the class were needed to I woUld recommend that any candidates be informed of the 7 irnplementirigand startiriga tlUsiness. Marketing gain knoWledge of business development as a Nothing. dedication, class work and home wol'kthat will required of them. A high level of committment '1111I be necessary to information that was provided was very useful. Whole. app,eciate the course being provided for graduation. Include seasoned experts on the topics in the Found some of the program facilitator's program syllabus. The facilitor relied on reading 8 material from a handout or from a powerpoint comments inappropriate, such as consistent most of the time. references to alcohol 9 Hard copy docUments and information received Informality and discussing personal subjects Change into a formal, effective and efficient program Where steps/programs are followed 10 The ability to stretch myself to higher grounds None Length Boynton Beach~. .. Business Development Program Post - Class ~"dey Jan-Mar 20'10 clasSeS Hi Annette, I was freelancing as a graphic designer at the time when I started the class. I am now incorporated (Corp. 5) and have obtained the following: 1. Articles of Incorporation: CreativeChip Designs, Inc. 2. Certificate of Status: P10000015408 3. Fictitious Name: Cre8iveChip Designs, Inc. 4. EIN # (let me know if you need this) 5. DNS # (Application was approved. Now waiting on DNS # to be emailed or sent via mail) 6. Resale for Certification for Sales Tax 7. Logo (see signature below) Need to apply for: 1. Palm Beach County Business Tax Receipt. (I have application filled out) 2. Home Business Tax Receipt Affidavit The small business development course has assisted me to operate my business successfully. The hidden factors in running a small business can be confusing and obscure. By taking the course, I have learned the basic skills in starting, operating and maintaining a start-up business. I want to thank you for allowing me to be a part of this course. I believe that with the education provided by the course insures longevity of my business. Thank you! Best Regards, Michelle Pate President CreativeChip Designs, Inc. Tele: 954.254.5940 Fax: 561.200.5756 From: Robies Joseph [mailto:robiesjo@yahooJr] Sent: Wednesday, March 24, 2010 5:59 PM To: Annette Gray Subject: Thanks! Hi Annette, After 40 hours of the formation, information and guidance around of a curriculum the formation having for the title how starting and growth a small business I realize that I learn more than I hope. During those hours all I learned will help me to create a trusting environment of business Those hours reawaken to me my talent and my innovation spirit. At this moment I Would like to say thanks and present my congratulations to all sponsors of this session and particularly to you Annette that, by your talent, your dynamic and your well done are going to contribute of my business success and my daily life. To remain the performance of this session I wish a follow-up plan would develop. And I'm opening to participate to any other session in the field of Business. Robies Joseph Hello Annette, Here is a brief progress report: Before commencing this class, I had no idea how to begin putting a business plan together and although time and life has gotten in the way of the rhythm of the class, I now feel confident because I understand in a more organized fashion what it takes to start a business and make it grow. I understand that it is hard work but I am looking forward to completing all the formalities of getting the business administrative areas in place and get going with my creative concepts and turning them into a money making engine. I also have had the opportunity to get involved and practice with software (Le. QuickBooks) for a client in order for me to learn simultaneously for my own business. I leave this course with high hopes and energized now that the paralyzing fear that kept me from moving forward due to being naive about business, is decisively fading away. With my sincere thanks for this wonderful program, I hope that you enlighten many others in the future. Very proud to have participated in your first class; Sandra Dohnert Bourne Sandrasonik Creative Corp. Artistic Design and Digital Marketing Mobile 305-724-7681 Boynton Beach, Florida. ,~:k"_"''"''''''"''''''''---r''''-''''~'''~,l;''"-""",,,,,,,,,,,~,t4...tI1l' T -,....;."" '-l~'~'''' '_"~~'~~~;;;;;'~kj"i'~"clf:,*,Jk4"" "f'lLft.".. ":"-'r~~,r.,..i\;'~'Ol,,.j'~~'~_~~ilii~" <<Vo..c..;:.w':~J;..""_,...wf",""",',~"'..,,,,,,, ~'~~'~-~.~""""-"*;'~'Ui.,~'~"~"""".~'.',"';'",,'''f~~ XII. NEW BUSINESS: A. Presentation of Audited Financial Statements for FY 2008-2009-TABLED April]3, 2010 IlflY~e~ eRA . East SideNWest SideNSeaside Renaissance eRA BOARD MEETING OF: May 11,2010 I I Consent Agenda I I Old Business I X I New Business Legal I I Other SUBJECT: Presentation of Audited Financials for FY 2008-2009 - TABLED April 13, 2010 SUMMARY: Attached is a copy of the Boynton Beach eRA's audited financial statements for Fiscal Year 2008-2009 as well as the 2009 Audit Results. In compliance with Florida Statute, the statements have been distributed to the governing board, funding agencies, the Auditor General, and the Florida Department of Financial Services. FISCAL IMPACT: None CRA PLAN, PROGRAM OR PROJECT: None RECOMMENDATIONS/OPTIONS: None ~d~ Susan Harris Finance Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Audit Presentation.doc [Ii] " I \ .. . !. ) . SANSON KLINE JACOMINO & COMP~ LLP Catified MHo Accckll.bld.r. & CoasulIImIa ~ ~ SANSON ICLINB JACOMINO & COMP~ LLP Q.liW Puh1icAft>>..llIfd*.t ec..'-* 5905 Blue Lagoon Dtive Suite 220 Miami. F10ticla 33126 Tel. (305) 269-8633 Fax (305) 265-0652 _ slqnet.com April 6, 2010 Management and Board Members Boynton Beach Community Redevelopment Agency 915 S. Federal Highway Boynton Beach, Florida 33435 Dear Management and Board Members: Weare pleased to present the results of our audit of the basic financial statements of the Boynton Beach Community Redevelopment Agency (the Agency) for the year ended September 30, 2009. This report summarizes our audit, the scope of our engagement, and key observations and findings from our audit procedures for the year ended September 30, 2009. This report also contains the communications required by our professional standards and by Government Auditing Standards. The audit was designed to express an opinion on the Agency's 2009 basic fmancial statements. In accordance with professional standards, we obtained a sufficient understanding of internal control to plan the audit and to determine the nature, timing, and extent of tests to be penormed. However, we were not engaged to and we did not perform an audit of internal control over fmancial reporting. This report is intended solely for the information and use of management and the Board, and is not intended to be and should not be used by anyone other than these specified parties. We appreciate this opportunity to meet with you to discuss the contents of this report, and to answer any questions that you may have about this report or any other audit-related matters. If you have any questions, please contact Richie C. Tandoc, Partner in charge of the audit, at (305) 269-8633, ext. 16. Very truly yours, .\I ~ /kJ,' ~"f ~ t-tJ Boynton Beach Community Redevelopment Agency 2009 Audit Results and Required Communications Required Communication Fraud and mega) Acts We are required to inform the Board about any and all fraud and illegal acts involving senior management and any fraud and illegal acts (whether caused by management or other employees) that cause a material misstatement of financial resources. Disagreements or Difficuldes with Management We are required to inform the Board about any significant disagreements or difficulties encountered with management. Major Issues Discussed with Managemeat Prior to Retention We are required to inform the Board about any major issues discussed with management prior to retaining us as auditors. Independence We are required to communicate with the Board, at least annually, the following: I. Disclose, in writing, all relationships between us and the Agency and its related entities that, in our professional judgment, may reasonably be thought to impede our independence; 2. Confirm in writing that, in our professional judgment, we are independent of the Agency in accordance with generally accepted auditing standards and Government Auditing Standards; and 3. Disclose any non-audit services oerformed for the Agency. Management Letter We are required to issue a management letter responding to certain requirements in accordance with the Rules of the Auditor General of the State of Florida. Response Weare not aware of any fraud or illegal acts that occurred during the fiscal year involving senior management, or any fraud or illegal acts involving any employee that would cause a material misstatement of the financial statements. We did not encounter any significant disagreements or difficulties with management during the course of the audit. We did not discuss any major issues with management prior to retaining us as vour auditors. I. There are no relationships between us and the Agency and its related entities that, in our professional judgment, may reasonably be thought to impede our independence. 2. With regards to our audit ofthe Agency as of September 30,2009, we are independent with respect to the Agency, in accordance with Rule 101 ofthe American Institute of Certified Public Accountants' Code of Professional Conduct, its interpretations and rulings, and Government Auditing Standards. 3. We have not performed any non-audit services for the Agency during the fiscal year ended September 30, 2009, or thereafter. We have issued a management letter in accordance with the Rules of the Auditor General of the State of Florida, dated November 13, 2009. We had no new observations for the current year. 2 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) For the Year Ended September 30, 2009 Table of Contents FINANCIAL SECTION: Independent Auditor's Report Management's Discussion and Analysis (Required Supplementary Information) Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Funds Reconciliation ofthe Balance Sheet - Governmental Funds to the Statement of Net Assets Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds Reconciliation of Revenues, Expenditures and Changes in Fund Balances- Governmental Funds to the Statement of Activities Notes to the Basic Financial Statements Required Supplementary Information: Budgetary Comparison Schedule Notes to the Budgetary Comparison Schedule COMPLIANCE SECTION: Independent Auditors' Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards Management Letter in Accordance with the Rules of the Auditor General of the State of Florida Page 3 8 9 10 11 12 13 14 23 24 25 27 Independent Auditor's Report [m] The management's discussion and analysis on pages 3 through 7 and the budgetary comparison information on pages 23 and 24 are not a' required part of the basic fmancial statements but are supplementary information required by U.S. generally accepted accounting principles. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit the information and express no opinion on it. .v~~' f~~ f ~ I-If'. November 13,2009 2 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis September 30, 2009 The Management's Discussion and Analysis (MD&A) of the Boynton Beach Community Redevelopment Agency (the "Agency") is designed to provide an objective and easy to read analysis of the [mancial activities based on currently known facts, decisions, and conditions. The :MD&A provides a broad overview, short-term and long-term analysis of the Agency's activities based on information presented in the financial statements. Specifically, this information is designed to assist the reader in focusing on significant [mancial issues, provide an overview of the Agency's financial activity and identify changes in the Agency's financial position and its ability to address the next year's challenges. Finally, the :MD&A will identify any material deviations from the approved budget. The Agency is an independent agency and a component unit of the City of Boynton Beach, Florida ("City"). The Agency has presented its financial statements in accordance with the reporting model required by Governmental Accounting Standards Board Statement No. 34, Basic Financial Statements and Management's Discussion and Analysis Jor State and Local Governments. The information contained in this :MD&A is only a component of the entire financial statement report. Readers should take time to read and evaluate all sections of the report, including the footnotes and required supplementary information provided. FINANCIAL HIGHLIGHTS e The Agency's tax increment fund revenues decreased by 12.7% (approximately $1.2 million) to $8,315,313 during the fiscal year. This resulted from a decrease in assessed property values in the redevelopment district. o The Agency began the fiscal year with a net assets balance of $5,828,816. The Agency's total revenues for the year ended September 30, 2009, were approximately $9.6 million, while total expenses were approximately $7 million, increasing net assets by approximately $2.7 million. o Despite the economic downturn and reduction in tax increment fund revenues, the CRA initiated a number of new projects including slip renovations at Boynton Harbor Marina; approval of $1.6 million for Heart of Boynton Implementation Strategies; and development of a Small Business Program. o The Agency received the state's highest award from the Florida Redevelopment Association for the best redevelopment project, "Urban Infill Housing Development Program." The project's key goal is to create affordable housing and improve neighborhoods within the Boynton Beach Community Redevelopment District. OVERVIEW OF THE FINANCIAL STATEMENTS The Agency's basic financial statements are comprised of the 1) government-wide financial statements, 2) fund [mancial statements, and 3) notes to the basic financial statements. This report also contains required supplementary information in addition to the basic [mancial statements themselves. Government-Wide Financial Statements The government-wide [mancial statements provide readers with a broad overview of the Agency's finances, in a manner similar to a private-sector business. In addition, the government-wide statements are prepared using the accrual basis of accounting. The Statement oj Net Assets (balance sheet) presents information on the Agency's assets and liabilities, with the difference between the two reported as net assets. 3 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis September 30, 2009 Notes to the Basic Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and the fund fmancial statements. These notes to the basic fmancial statements begin on page 14 of this report. In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the Agency's budget to actual results for the General Fund for the current year. The required supplementary infonnation can be found on page 23 of this report. GOVERNMENT-WIDE FINANCIAL ANALYSIS As noted earlier, net assets may serve over time as a useful indicator of a government's fmancial position. In the case of the Agency, assets exceeded liabilities by $8,503,752 at the close of the most recent fiscal year. However, the largest portion of the Agency's total assets, 67%, is reflected in its capital assets. Summary of Net Assets September 30, 2009 2008 Assets Current and other assets $ 11,073,782 $ 10,106,362 Investments 1,707,809 1,717,428 Capital assets 25,755,124 25,780,037 Total assets 38,536,715 37,603,827 Liabilities Current liabilities 179,230 328,375 Long term liabilities 29,853,733 31,446,636 Total liabilities 30,032,963 31,775,011 Net Assets Invested in capital assets, net of related debt (414,149) (1,831,211) Restricted for: Capital projects 5,185,064 1,433,519 Debt service 3,066,688 3,011,700 Note receivable 100,000 Umestricted 666,149 3,114,808 Total net assets $ 8,503,752 $ 5,828,816 The Agency has restricted assets for various capital projects and the bond reserve fund requirement. 5 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Management's Discussion and Analysis September 30, 2009 GENERAL BUDGETARY HIGHLIGHTS Due to the anticipated decrease in Tax Increment revenues the Agency reduced its fiscal year 2008-2009 operating budget by approximately $1.75 million versus its fiscal year 2007-2008. In fiscal year 2008-2009, actual total revenues were under budgetary estimates by approximately $142,000; and actual total expenditures were under budgetary estimates by approximately $865,000. Refer to page 23 for budgetary comparison schedule. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets During the year ended September 30, 2009, the Agency did not make any major acquisitions of real property. Properties that have been acquired are targeted for development of low to moderate income residential projects. In addition, the Agency is working on a number of strategies to stimulate local redevelopment opportunities, economic development initiatives and brownfield designations. Long-Term Debt At the end of fiscal year 2009, the Agency has total bond debt and loans payable outstanding of$29,149,190. Of this amount, $16,160,000 and $10,540,000 represents the 2004 and 2005 Series Tax Increment Revenue Bonds, respectively. In addition, there are two loans payable of totaling approximately $2.4 million. The Agency's total debt decreased by approximately $1.6 million during the current fiscal year. ECONOMIC FACTORS AFFECTING NEXT YEAR'S BUDGET The Agency's Board approved the 2009-2010 budget, which included a $1.3 million decrease in tax increment revenues. Tax increment revenue projections were based upon actual values from the Palm Beach County tax appraiser's office. The Tax Increment revenue decrease is attributable to a 19% loss in property valuations within the Agency district. The Agency anticipates a further decline in commercial and industrial values in fiscal year 2009-2010. However, commercial and industrial parcels account for approximately 15% of the Agency's redevelopment district. Despite the downturn in the real estate market, the Agency anticipates capturing Tax Increment revenues from several projects that were recently completed, in the development pipeline or are expected to be realized in the upcoming fiscal years. REQUEST FOR INFORMATION This financial report is designed to provide a general overview of the Agency's finances. Questions concerning any of the information provided in this report or requests for additional information should be addressed to Susan Harris, Finance Director at 915 S. Federal Highway, Boynton Beach Florida 33435. 7 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Statement of Net Assets September 30, 2009 Governmental Activities ASSETS Cash and cash equivalents Investments Accounts receivables Prep aids Unamortized bond issuance costs Capital assets, net of accumulated depreciation: Land Furniture and equipment Renovations Leasehold improvements Total assets $ 10,730,231 1,707,809 692 4,000 338,859 25,665,382 35,741 31,096 22,905 38,536,715 LIABILITIES Accounts payable and accrued expenses Deposits payable Long-term liabilities: Due within one year Due in more than one year Total liabilities 174,780 4,450 1,662,412 28,191,321 30,032,963 NET ASSETS Invested in capital assets, net of related debt Restricted for: Capital projects Debt service Unrestricted Total net assets (414,149) 5,185,064 3,066,688 666,149 8,503,752 $ The notes to the basic financial statements are an integral part of this statement. 8 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) )3alance Sheet Governmental Funds September 30, 2009 Total Governmental General Fund Projects Fund Debt Service Fund Funds ASSETS Cash and cash equivalents $ 4,084,254 $ 5,287,098 $ 1,359,438 $ 10,730,790 Investments 1,707,250 1,707,250 Accounts receivables 692 692 Prep aids 4,000 4,000 Total assets $ 4,088,946 $ 5,287,098 $ 3,066,688 $ 12,442,732 LIABILITIES AND FUND BALANCE Liabilities: Accounts payable and accrued expenses $ 72,746 $ 102,034 $ $ 174,780 Deposits payable 4,450 4,450 Total liabilities 77,196 102,034 179,230 Fund Balances: Reserved for: Prepaids 4,000 4,000 Capital projects 2,575,313 2,575,313 Debt service 3,066,688 3,066,688 Encumbrances 227,999 2,609,751 2,837,750 Unreserved 3,779,751 3,779,751 Total fund balances 4,011,750 5,185,064 3,066,688 12,263,502 Total liabilities and fund balances $ 4,088,946 $ 5,287,098 $ 3,066,688 $ 12,442,732 The notes to the basic financial statements are an integral part of this statement. 10 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds For the Year Ended September 30, 2009 Total Governmental General Fund Projects Fund Debt Service Fund Funds REVENUES Tax increment revenue $ 8,315,313 $ $ $ 8,315.313 Charges for services 1,047,125 1.047,125 Interest and other income 147,648 25,885 54,938 228,471 Total revenues 9,510.086 25,885 54.938 9,590,909 EXPENDITURES General government 2,949.443 2,949,443 Redevelopment projects 2,445,759 2,445,759 Debt service: Principal 1,590,377 1,590,377 Interest and other charges 1,476,154 1,476,154 Total expenditures 2,949,443 2,445,759 3,066,531 8,461,733 Excess (deficiency) of revenues over (under) expenditures 6,560,643 (2,419,874) (3,011,593) 1,129,176 OTHER FINANCING SOURCES (USES) Transfers in 6,171,419 3,066,581 9,238,000 Transfers out (9,238,000) (9,238,000) Total other fmancing sources (uses) (9.238,000) 6,171,419 3,066,581 Net change in fund balances (2,677,357) 3.751,545 54,988 1,129,176 Fund balances - beginning of year 6,689,107 1,433,519 3,011,700 11,134,326 Fund balances - end of year $ 4,011,750 $ 5.185.064 $ 3,066,688 $ 12,263,502 The notes to the basic financial statements are an integral part of this statement. 12 Notes to the Basic Financial Statements BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30, 2009 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) B. Reporting model (Continued) The statement of activities presents a comparison between direct expenses and program revenues for each function of the Agency. Direct expenses are those that are clearly identifiable with a specific function. Program revenues include charges for services that are directly related to a given function and grants and contributions that are restricted to meeting the operational or capital requirements of a particular function. Tax increment revenue and other items not meeting the definition of program revenue are reported instead as general revenue. Fund financial statements For the fiscal year ending September 30, 2009, the Agency reports three major funds, the General Fund, the Debt Service Fund, and the Projects Fund. The General Fund is classified as a governmental fund and accounts for all fmancial resources controlled by the Agency. The Debt Service Fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term obligation deb~. The Projects Fund accounts for financial resources to be used for redevelopment programs and the acquisition or construction of capital projects. The governmental fund statement includes reconciliations with brief explanations to better identify the relationship between the government-wide statements and the statements for the governmental fund. C. Measurement focus and basis of accounting The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. The governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the Agency considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when the related fund liability is incurred. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due. D. Cash and Cash Equivalents Cash and cash equivalents are defined as short-term highly liquid investments that are both readily convertible to known amounts of cash and have an original maturity of three months or less from the date of purchase. Cash and cash equivalents consist of petty cash and deposits with fmandal institutions qualified as public depositories under Florida law. All deposits are insured by federal depository insurance and/or collateralized with securities held in Florida's multiple fmandal institution collateral pool as required by Chapter 280, Florida Statutes. 15 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30, 2009 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) K. Net assets Net assets represent the difference between assets and liabilities and are reported in three categories as hereafter described. Net assets invested in capital assets, net of related debt, represent capital assets, net of accumulated depreciation and any outstanding debt related to those assets. Net assets are reported as restricted when there are legal limitations imposed on their use by legislation, or external restrictions imposed by other governments, creditors, or grantors. Unrestricted net assets are net assets that do not meet the definitions of the classifications previously described. When both restricted and unrestricted resources are available for use, it is the Agency's policy to use unrestricted resources first, and then restricted resources as they are needed. L. Use of Estimates The preparation of financial statements in confonnity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the fmancial statements and accompanying notes. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. 2. CASH, CASH EQUIVALENTS AND INVESTMENTS All of the Agency's bank deposits are insured by the Federal Deposit Insurance Corporation or collateralized in accordance with Florida Security for Public Deposits Act (the "Act"). Under the Act, every qualified public depository shall deposit with the Treasurer eligible collateral having a market value equal to 50% of the average daily balance for each month that all public deposits are in excess of any applicable deposit insurance. If the public deposits exceed the total amount of the regulatory capital accounts of a bank or the regulatory net worth of a savings association, the required collateral shall have a market value equal to 125% of the deposits. The Agency's investment policy is designed to ensure the prudent management of funds, and the availability of operating and capital funds when required, while earning a competitive return within the policy framework. The primary objectives, in order of priority, of investment activity shall be safety, interest rate risk, liquidity and yield. Investments of the Agency include deposits and guaranteed contracts with banks or other financial institutions which meet standards for deposits stipulated in investment agreements. Fair value Cash and cash equivalents: Cash in bank Investments: Certificates of deposit Total deposits and investments $ 10,730,231 1,707,809 $ 12,438,040 17 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30, 2009 4. CAPITAL ASSETS Capital assets activity for the year ended September 30,2009, was as follows: Balance at Balance at 10/1/08 Additions Deletions 9/30/2009 Capital assets, not being depreciated: Land $ 25,665,382 $ $ $ 25,665,382 Capital assets, being depreciated: Furniture and equipment 114,867 2,874 117,741 Renovations 40,606 40,606 Leasehold improvements 50,479 50,479 Total capital assets, being depreciated 205,952 2,874 208,826 Less accumulated depreciation for: Furniture and equipment (62,929) (19,071) (82,000) Renovations (5,871 ) (3,639) (9,510) Leasehold improvements (22,497) (5,077) (27,574) Total accumulated depreciation (91,297) (27,787) (119,084) Total capital assets, being depreciated, net 114,655 (24,913) 89,742 Total capital assets, net of accumulated depreciation $ 25,780,037 $ (24,913) $ $ 25,755,124 Depreciation expense of $27,787 was charged to general government. 5. LONG- TERM LIABILITIES At September 30,2009, bonds and loans payable consisted of the following: BONDS: 2004 Tax Increment Revenue Bonds, dated December 14,2004, due in annual principal installments of $375,000 to $1,625,000 through October 1,2024, bearing interest rates of 3.0% to 5.0%. 2005 Tax Increment Revenue Bonds, Series A&B Bonds dated December 12,2005, due in annual principal installments of $235,000 to $2,395,000 through October 1, 2026, bearing interest rates of 4.50% to 5.65%. 2005A 2005B $ 16,160,000 3,000,000 7,540,000 LOANS: Promissory note to lRG-Boynton Beach, Ltd. at 5% interest, payable in monthly installments through January 25, 2011. Promissory note to Bank of America, N.A. at 5.65% interest, payable in semi-annual installments through September 20,2016. 711,477 1,737,713 $ 29,149,190 19 BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Basic Financial Statements September 30, 2009 5. LONG-TERM LIABILITIES (Continued) The changes in long-term liabilities for the year ended September 30, 2009 are summarized as follows: Balance at Balance at Due within 10/01/08 Additions Deletions 9/30/09 one year Bonds payable $ 27,590,000 $ - $ (890,000) $ 26,700,000 $ 925,000 Plus deferred amounts For discount (33,814) 1,989 (31,825) For issuance premium 640,076 (40,005) 600,071 Total bonds payable 28,196,262 (928,016) 27,268,246 925,000 Notes payable 3,149,411 (700,221) 2,449,190 737,412 Compensated absences 100,963 35,334 136,297 Totallong-tenn liabilities $ 31,446,636 $ 35,334 $ (1,628,237) $ 29,853,733 $ 1,662,412 6. INTERFUND TRANSFERS During the fiscal year ended September 30, 2009, the General Fund transferred $6,171,419 and $3,066,581 to the Projects Fund and Debt Service Fund, respectively. The transfers made to the Projects Fund were to fund the costs of ongoing redevelopment projects. The transfers made to the Debt Service Fund were to fund the annual debt service expenditures on the bonds and loans payable. 7. HOMEBUYER ASSISTANCE PROGRAM The Agency established the Homebuyer Assistance Program to assist local residents with the purchase of a home by providing a subsidy in an amount not to exceed $50,000 per homeowner. The subsidy is secured by a mortgage, which is required to be paid back only under certain circumstances outlined in the mortgage agreement. The mortgage is forgiven if the homeowner remains in the home during the full term outlined in the agreement. The amount of mortgages receivable outstanding at September 30,2009 totaled $1,408,372. Given the nature of these loans, collection is uncertain, and therefore an allowance for uncollectible mortgages has been established at 100% of the value of the mortgages receivable outstanding. Consequently these mortgages are not recognized on the financial statements. 8. RISK MANAGEMENT The Agency is exposed to various risks of loss related to torts, theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The Agency purchases commercial insurance for the risks of loss to which it is exposed. Policy limits and deductibles are reviewed by management and established at amounts to provide reasonable protection from significant financial loss. Settlements did not exceed insurance coverage for the current fiscal year. 21 Required Supplementary Information BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Boynton Beach, Florida) Notes to the Budgetary Comparison Schedule September 30, 2009 1. BUDGETARY INFORMATION The Agency is required to establish a budgetary system and an approved annual budget for the General Fund, Debt Service Fund and Project Fund. The Agency's budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. In accordance with generally accepted accounting principles, budgetary comparison information is disclosed only for the General Fund. The budget is adopted on the modified accrual basis of accounting, consistent with generally accepted accounting principles, with the exception of compensated absences. Compensated absences are budgeted only to the extent expected to be paid, rather than on the modified accrual basis. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. 24 ~ SANSON ICLJNB JACOMINO & COMP~ LLP Cd......Aa>>....-1; CcJ_ ....IllI. 5805 Blue Lagoon Dtlve Suite 220 MiamI, Flotlc:la 33126 Tel. (305) 269-8633 Fax (305) 265-0652 -.sIr.I~ Independent Auditors' Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards To the Board of Directors Boynton Beach Community Redevelopment Agency: We have audited the basic fmancial statements of the Boynton Beach Community Redevelopment Agency (the Agency), a component unit of the City of Boynton Beach, Florida, as of and for the year ended September 30,2009, and have issued our report thereon dated November 13, 2009. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Internal Control Over Financial Reporting In planning and performing our audit, we considered the Agency's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Agency's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Agency's internal control over financial reporting. A control deficiency exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A significant deficiency is a control deficiency, or combination of control deficiencies, that adversely affects the entity's ability to initiate, authorize, record, process, or report financial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the entity's fmancial statements that is more than inconsequential will not be prevented or detected by the entity's internal control. A material weakness is a significant deficiency, or combination of significant deficiencies, that results in more than a remote likelihood that a material misstatement of the financial statements will not be prevented or detected by the entity's internal control. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and would not necessarily identify all deficiencies in internal control that might be significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defrned above. 25 ~ SANSON ICLINB JACOMINO & COMP~ LLP CGtiWNicAa,. . . .tCcn ... . 5805 Blue 1..49000 Drive Suite 220 MiOlmi, FtoriqOl 33126 Tel. (305) 269-8633 FOlx (305) 265-0652 _~,...t.rom Management Letter in Accordance with the Rules o/the Auditor General of the State of Florida To the Board of Directors Boynton Beach Community Redevelopment Agency: We have audited the financial statements of the Boynton Beach Community Redevelopment Agency (the Agency), a component unit of the City of Boynton Beach, Florida, as of and for the fiscal year ended September 30, 2009 and have issued our reports thereon dated November 13, 2009. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters. Disclosures in those reports, which are dated November 13, 2009, should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which govern the conduct of local governmental entity audits performed in the State of Florida and, unless otherwise required to be reported in the report on compliance and internal controls or schedule of findings and questioned costs, this letter is required to include the following information. . Section 1O.554(1)(i)1., Rilles of the Auditor General, requires that we determine whether or not corrective actions have been taken to address fmdings and recommendations made in the preceding annual financial audit report not otherwise addressed in the auditor's report pursuant to Section 10.557(3)(b)2., Rules of the Auditor General. The status of prior year's fmdings and recommendations are included in Appendix A to this letter. · Section 10.554(1)(i)2., Rules of the Auditor General, requires our audit to include a review of the provisions of Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit, we determined that the Agency complied with Section 218.415, Florida Statutes. . Section 10.554(1 )(i)3., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. We had no current year recommendations. · Section 1O.554(1)(i)4., Rules of the Auditor General, requires that we address violations of contracts or grant agreements, or abuse that have an effect 0 the financial statement that is less than material but more than inconsequential. In connection with our audits, we noted no such violations. 27 Appendix A BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Management Letter in Accordance With the Rules of the Auditor General of the State of Florida Year ended September 30, 2009 Status of Prior Year's Findings and Recommendations 2008-1 Sel!rel!ation of Duties Prior Year's Condition Found During our testing of internal controls, we noted the following: Il The Accountant who is responsible for preparing deposit slips (for any sponsorship checks and/or marina rent checks received), depositing the funds into the bank, and reconciling the bank accounts on a monthly basis, also performs the posting of such receipts to the cash accounts and the receivables subledger; and I'l The Accountant who prepares the monthly bank reconciliations also has access to petty cash. Prior Year's Recommendation Due to the size of the Agency's Finance Department, the Accountant's responsibilities are appropriate. However, to improve the Agency's internal control over cash/check receipts, we recommend that one individual be responsible for receiving all cash/check receipts (an individual not in the Finance Department). Any such cash/check receipts that are received by mail or in person, should be forwarded to this responsible individual. Prior to forwarding to the Accountant all such cash/check receipts received, the responsible individual should log in (into a spreadsheet for example) the cash/check receipt, noting the date, amount, payor, and a description of the transaction, if possible. That individual should reconcile the log of cash/check receipts, on a monthly basis, to the deposits made by the Accountant. Reconciliations should be printed and properly signed by the responsible individual preparing the reconciliation, and reviewed and signed by the Director of Finance. In addition, we recommend that the Accountant preparing the monthly bank reconciliations should not have access to petty cash. Responsibility for petty cash can be assigned to any other individual, within or even outside of the Finance Department. Prior Year's Management's Response It should be noted that the receipt of cash and checks are very limited and specific to the annual receipt of TIF payments, event sponsorship checks, Marina office rental payments and public records request payments. As recommended, management intends to assign an employee outside of the Finance Department with the responsibility for (1) receiving, logging, reconciling all check and cash receipts, and (2) petty cash payments and reconciliations. Management will implement this recommendation subject to appropriate staffmg levels. Current Year's Status This fmding has been properly addressed. The recommendation above has been implemented. Appendix A BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY Management Letter in Accordance With the Rules of the Auditor General of the State of Florida Year ended September 30, 2009 Status of Prior Year's Findings and Recommendations 2008-3 Police-Related Exnenditures Prior Year's Condition Found During our audit we noted that the Agency entered into an agreement with the City of Boynton Beach, Florida (the "City") on December 19, 2007 to pay the City the sum of: $45,455 for police equipment; $130,830 for police vehicles; and $8,784 for patrol bicycles. These amounts were invoiced by the City on December 28, 2007 and paid by the Agency on January 4, 2008. Based on an audit of the Daytona Beach Community Redevelopment Agency performed by the State of Florida Auditor General, these types of expenditures were questionable as to whether such expenditures were authorized pursuant to Section 163.387(6), Florida Statutes. The aforementioned police-related expenditures can probably be argued that they fall under the classification of costs related to community policing innovations. Therefore, the main issue is whether these expenditures were incurred in accordance with the Agency's redevelopment plan. Based on our review of the Agency's Downtown Vision & Master Plan, which was approved in concept by the City Commission in April 2008, such plan described incurring costs of community policing in year 5 of the action plan. As a result, since the police-related expenditures described above occurred in December 2007, which was prior to the approval of the Downtown Vision & Master Plan and prior to the timeline of incurring costs of community policing described therein, the Agency may not have been in compliance with Section 163.387(6), Florida Statutes at the time the expenditures actually occurred. Prior Year's Recommendation We recommend that, at a minimum, the Agency amend its Downtown Vision & Master Plan to properly account for the costs of community policing, and that management of the Agency formulate a strong argument that the aforementioned police-related expenditures are applicable to community policing innovations. We also recommend that going forward, any expenditures that the Agency's management foresees on incurring using tax increment funds, or has any questions as to its compliance, that they determine that such expenditures are in accordance with its redevelopment plans and with Section 163.387(6) Florida Statutes, prior to incurring such expenditures. Prior Year's Management's Response Management has been attempting to resolve the conditions highlighted above regarding compliance pursuant to Section 163.387(6), Florida Statutes and has requested the assistance of Agency's legal counsel to mitigate compliance issues. With specific regard to the above recommendations - (1) "At a minimum, the Agency amend its Downtown Vision & Master Plan to properly account for the costs of community policing... " - the suggested amendment will be brought before the Agency Board at the December 9, 2008 meeting. ~~~lfil'-- 5fl1.a.;, "~~ii~-'--- v'- -- ~~'-I---~~i<d;r::;j;;q-'~''4-I!fl:'~~~~~-~'-r_t~A.-'~~~.i&->m~~~,~~itii.;-,;;s,~*~iM-''''''''j'''''~'-''\::tlh'''''ii,J.i-.d~~~';:j~''~L''ti''~ti:k~~~~a' XII. NEW BUSINESS: B. Consideration of Purchase of Vacant Lot at NW 6th Avenue for $20,000 I ~~~<tY~Te~ eRA . East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I I Consent Agenda I I Old Business I X I New Business Legal I Other SUBJECT: Consideration of Purchase of Vacant Lot at NW 6th Avenue for $20,000 SUMMARY: The Heart of Boynton Community Redevelopment Plan identifies extensive vacant lots as a major area of concern. The community also identified infill development as a major action to be undertaken to improve the community. Vacant lots add to neighborhood blight by acting as illegal dumping locations. Often the lots are not properly maintained and are overgrown. The redevelopment of vacant lots strengthens the neighborhood fabric. Since 2006, the CRA has facilitated the development of 14 new single-family homes throughout the Heart of Boynton neighborhood. lfthe Board votes to purchase the lot, it will be added to the following RFP creating four new, single- family homes in the neighborhood. FISCAL IMP ACT: $20,000 from HOB Community Committee Funding Line CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan RECOMMENDATIONS/OPTIONS: Approve the Purchase Agreement with Seymour and Diana Abelson for a vacant lot at NW 6th Avenue in the amount of $20,000. ,D.o- ~~ ~ght Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Purchase of NW 6th Avenue.doc Print Page Abelson - NW 6th A venue produced h\': pap:'g" http://maps.co.palm-beach. fl. us/papagis/printing/papaLayout.aspx roperty Details Owner Information PCN: 08434521070021140 View Property Details Name: ABELSON SEYMOUR & Location: NW 6TH AVE Mailing: 75 NE 6TH AVE STE 201 DELRA Y BEACH, FL 33483 5453 Appraisal Value Market Value: Assessed Value: Exempt Amnt: Taxable: Tax Value Ad Valorem: Non ad valorem: Total: Sales Info Sale Date 04/01/2009 08/23/2007 10/21/2005 10/31/2001 08/17/2001 01/17/2001 09/01/1998 08/01/1991 01/01/1991 01/01/1975 " W4p-I" Palm Beach County Property Appraiser Gary R Nikolits, CF A '" Page 1 of 1 :; Sale Price $1 $40,00 $1 $62,00 $53,00 $10 $10 $10 $10 $10 ) (~.~. . .j \~~J -; 4/15/2010 PURCHASE AGREEMENT Page 1 of 11 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 SEYMOUR ABELSON AND DIANA ABELSON, husband and wife (hereinafter "SELLER"). In consideration of the mutual covenants and agreements herein set forth, the Parties hereto agree as follows: 1. PURCHASE AND SALElPROPERTY. SELLER agrees to sell and convey to CRA and CRA agrees to purchase and acquire from SELLER, on the terms and conditions hereinafter set forth, the Properties located at N.W. 6th Avenue in Palm Beach County, Florida (the "Properties") and more particularly described as follows: Lot 114, Block B, BOYNTON HILLS, according to the Plat thereof as recorded in Plat Book 4, at Page 51, of the Public Records of Palm Beach County, Florida. 2. PURCHASE PRICE AND PAYMENT. The Purchase Price to be paid for the Property shall be Twenty Thousand and 00/100 ($20,000.00) Dollars, payable in cash, by wire transfer of United States Dollars at the Closing. 3. DEPOSIT. 3.1 Earnest Monev Deoosit. Within five (5) Business Days after the Effective Date, CRA shall deliver to Goren, Cherof, Doody & Ezrol, P.A. ("Escrow Agent") a deposit in the amount of One Thousand Dollars ($1,000.00) Dollars (the "Deposit"). 3.2 ApplicationJDisbursement 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 agree that Escrow Agent will not be liable to any person for misdelivery of escrowed items to T;\DEVELOPMENT\HOB\Urban Housing Infill\Abelson NW 6th Ave\lfurchase Agreement Abelson.doc ~/ PURCHASE AGREEMENT Page 3 of 11 obligations under this Section shall survIve the termination, expiration or Closing of this Agreement. 6.1 Title Review. Within twenty (20) 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 thirty (30) 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 eRA, 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. 6.2. Survey Review. CRA, at CRA's expense, shall obtain a current boundary survey (the "Survey") of the Property, indicating the number of acres comprising the Property to the nearest 1/100th of an acre. If the Survey discloses encroachments on the Property or that improvements located thereon encroach on setback lines, easements, lands of others or violate any restrictions, covenants of this Agreement, or applicable governmental regulations, the same shall constitute a title defect and shall be governed by the provisions of Section _ concerning title objections. T:\DEVELOPMEN1\HOB\Urban Housing lnfill\Abelson NW 6th Ave~rchase Agreement Abelson.doc ~ PURCHASE AGREEMENT Page 5 of 11 7.5. Occupancy. The property shall be conveyed to the CRA at time of closing unoccupied. The SELLER hereby warrants that the current tenants are on a month-to- month basis, were given proper notice to vacate and there are no leases on the property. 8. 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 SELLER'S Title Company. At Closing, SELLER shall execute and deliver, or cause to be executed and delivered to CRA the following documents and instruments: 8.1. 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. 8.2 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. 8.3. 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. 8.4. Corrective Documents. Documentation required to clear title to the Property of all liens, encumbrances and exceptions, if any, other than Permitted Exceptions. 8.5. 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. 9. PRORATIONS. CLOSING COSTS AND CLOSING PROCEDURES. 9.1. Prorations. 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. 9.2 Ad Valorem Taxes. CRA and SELLER shall comply with Section 196.295, Florida Statutes, with respect to the payment of prorated ad valorem taxes for the year of closing into escrow with the Palm Beach County Tax Collector's Office. In the event that, following T:\DEVELOPMEN'NIOB\Urban Housing Infill\Abelson NW 6th Ave~rchase Agreement Abelson.doc ~ PURCHASE AGREEMENT Page 7 of 11 any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Property or any part thereof or which would otherwise relate to the Land. 10.3 SELLER has full power and authority to enter into this Agreement and to assume and perform its obligations heremder in this Agreement. SELLER does not and will not conflict with or result in the breach of any condition or provision, or constitute a default mder, or result in the creation or imposition of any lien, charge, or encumbrance upon any of the Property or assets of the SELLER by reason of the terms of any contract, mortgage, lien, lease, agreement, indenture, instrument or judgment to which the SELLER is a party of which is or purports to be binding upon the SELLER or which affects the SELLER; no action by any federal, state or municipal or other governmental department, commission, board, bureau or instrumentality is necessary to make this Agreement a valid instrument binding upon the SELLER in accordance with its terms. 10.4 SELLER represents that SELLER will not, between the date of this Agreement and the Closing, without CRA'S prior written consent, which consent shall not be unreasonably withheld or delayed, except in the ordinary course of business, create any encumbrances on the Property. For purposes of this provision the term "encumbrances" shall mean any liens, claims, options, or other encumbrances, encroachments, rights-of-way, leases, easements, covenants, conditions or restrictions. Additionally, SELLER represents that SELLER will not, between the date of this Agreement, and the Closing take any action to terminate or materially, amend or alter any existing leases presently in existence, without the prior consent of CRA, which consent shall not be unreasonably withheld or delayed. 10.5 SELLER represents that there are no parties other than SELLER m possession of the Property or any portion of the Property as a lessee. 10.6 SELLER shall not list or offer the Property for sale or solicit or negotiate offers to purchase the Property while this Agreement is in effect SELLER shall use its best efforts to maintain the Property in its present condition so as to ensure that it shall remain substantially in the same condition from the conclusion of the forty-five (45) day Inspection Period to the Closing Date. 10.7 SELLER has no actual knowledge nor has SELLER received any notice of any litigation, claim, action or proceeding, actual or threatened, against SELLER or the Land by any organization, person, individual or governmental agency which would affect (as to any threatened litigation, claim, action or proceeding, in a materially adverse fashion) the use, occupancy or value of the Land or any part thereof or which would otherwise relate to the Land. 10.8 SELLER represents that it has no actual knowledge nor has it received any notice that the Land has been, is presently or is contemplated to be utilized as a reservoir of hazardous material. As used herein, the term "Hazardous Material" shall mean any substance, water or material which has been determined by any state, federal or local government authority to be capable of posing a risk of injury to health, safety and property, including, but not limited to, all of those materials, wastes and substances designated as hazardous or toxic by the U.S. Environmental Protection Agency, the U.S. Department of Labor, the U.S. Department of Transportation, and/or any other state or local governmental agency now or hereafter authorized T:\DEVELOPMENliHOB\Urban Housing InfiIl\Abelson NW 6th Ave~rchase Agreement Abelson.doc ~ PURCHASE AGREEJ'v1ENT Page 9 of 11 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 provlSlon. 11.2. 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. 11.3. 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. 11.4. Survival. The provisions of this Section 12 shall survive the tennination of this Agreement. 12. 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: If to Buyer: Lisa A. Bright, Executive Director Boynton Beach Community Redevelopment Agency 915 S. Federal Highway Boynton Beach, FL 33435 PH: 561/737-3256 FX: 561/737-3258 T:\DEVELOPMENTlHOB\Urban Housing Infill\Abelson NW 6th Ave~rchase Agreement Abelson. doc r PURCHASE AGREEMENT Page 11 of 11 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. MISCELLANEOUS. 16.1. General. This Agreement, and any amendment hereto, may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall, together, constitute one and the same instrument. The section and paragraph headings herein contained are for the purposes of identification only and shall not be considered in construing this Agreement. Reference to a Section shall be deemed to be a reference to the entire Section, unless otherwise specified. No modification or amendment of this Agreement shall be of any force or effect unless in writing executed by Parties. This Agreement sets forth the entire agreement between the Parties relating to the Property and all subject matter herein and supersedes all prior and contemporaneous negotiations, understandings and agreements, written or oral, between the Parties. This Agreement shall be interpreted in accordance with the laws of the State of Florida. The Parties hereby agree that jurisdiction of any litigation brought arising out of this Agreement shall be in the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, or, should any cause of action be limited to federal jurisdiction only, in the United States District Court for the Southern District Court of Florida. 16.2. 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.rn. 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. 16.3. 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. 16.4. 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, T:\DEVELOPMENTlHOB\Urban Housing Infill\Abelson NW 6th Aveflrchase Agreement Abelson. doc rl PURCHASE AGREEMENT Page 13 of 11 date. IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY SELLER f! $'~ ';: , \ ~ /,d~ {:j/ft Print Name: Seymour Abelson By: Print Name: Jose Rodriguez Title: Chair Date: Date: If/ I it { 020 I 0 Witnesses: \' .. Witnesses; II IlA.,.\(~...z._(; .:e. Col"'~j-(\ Witnesses: Witnesses: Date: ~~~ Print Name. Diana Abelson ~ ( ,ct/ c.lo/O I""')' ., l r \.A.)'\rL:".~ L. Witnesses,: (i () \...:1-: . r"\ Witnesses: H:\2007\070473 BBCRAlPurchase Agreement Template Revised DID CLEAN.doc T:\DEVELOPMENT\HOB\Urban Housing InfiIl\Abelson NW 6th Avef.9rchase Agreement Abelson.doc r'" APPRAISAL OF A VACANT PARCEL SUMMARY APPRAISAL REPORT (... LOCATED AT NW 6th Avenue Boynton Hills Lt 114 Blk B Boynton Beach, FL 33435 FOR Boynton Beach Community Redevelopment Agency Attn: Theresa Utterback, Administrative Services Manager 915 South Federal Highway Boynton Beach, Florida 33435 OPINION OF VALUE $42,000 AS OF April 30,2010 BY Anderson & Carr, Inc. 521 South Olive Avenue West Palm Beach, FL 33401 Office (561) 833.1661 Fax (561) 833~234 (- Flirm GA2V - 'W1nTOTAl' appraisal software by a Ja mode,Ir.:. -1-allO-ALAMODE ~[)I:~'()"" cI: c~~. .,...c. <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<~J1J1~aise~s.lleaJto~s >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> ROBERT B. BANTING, MAl, SRA, PRESIDENT State-Certified General Real Estate Appraiser RZ4 521 South Olive Avenue West Palm Beach, Florida 33401-5907 www.andersoncarr.com Telephone (561) 833-1661 Fax (561) 833-0234 May 3, 2010 Oilality c"efVIce r!Jince 1947 Theresa Utterback Administrative Services Manager Boynton Beach Community Redevelopment Agency 915 South Federal Highway Boynton Beach, Florida 33435 Re: A Vacant Residential Lot NW 6th Avenue Boynton Beach, Florida 33435 Our File No. 2100216.000 Dear Ms. Utterback: 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 April 30, 2010, the date of inspection and photographs. The appraisers have been instructed by the client, Boynton Beach Community Redevelopment Agency, to estimate the market value of the fee simple estate of the subject property, based upon the Highest and Best Use of the subject site. As a result of our analysis, we have developed an opinion that the market value (as defined in the report) subject to definitions, certifications, and limiting conditions set forth in the attached report, as of April 30, 2010 was: FORTY-lWO THOUSAND DOLLARS ($42,000) The following presents an 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, Date: 2010.05.03 13:33:08 -04'00' -?~'~';":=~-,-~ ~ ~-"",..2.,::>.....:r.- Robert B. Banting, MAl, SRA State Certified General Real Estate Appraiser #RZ4 \\.1' \ ", i: , / \ . )(i t{/", I _ __ Michelle J. Jackson State Certified General Real Estate Appraiser #RZ3316 RBBIMJJ LAND APPRAISAL REPORT IMain File No 2100216.0001 Paoe #11 File No 2100216.000 Predominant Occupancy Single Family Price Range Single Family Age Borrower N/A Property Address NW 6th Avenue City Boynton Beach Legal Description Boynton Beach FL 33435 Sale Price $ N/A Date of Sale N/A Loan Term~ yrs. Property Rights Appraised 18I Fee 0 Leasehold 0 De Minimis PUI Actual Real Estate Taxes $ 700 (yr) Loan charges to be paid by seUer $~Other sales concessions N/A Lender/Client Boynton Beach Community Redevelopment Ag. Address Occupant Vacant Appraiser Michelle .J. .Jackson Instructions to AppralserFee slmnle market value based u....n the Highest & Best Use of the site Location U Urban ~ Suburban U Rural Buitt Up IZI Over 75% 0 25% to 75% 0 Under 25% Growth Rate 0 FUlly Dev. 0 Rapid 0 Steady IZI Slow Property Values 0 Increasing 0 Stable IZI Declining Demand/Suppiy 0 Shortage 0 In Balance IZI Oversupply Marketing Time 0 Under 3 Mos. 0 4-6 Mos. ~ Over 6 Mos. Present Land Use ~% 1 Family ~% 2-4 Family --.J!% Apts. ~% Condo --.J!% Commercial % Industrial 0% Vacant 10% Public Parks Change In Present Land Use IZI Not Likely -0 Likely (*) (*) From To IZI Owner 0 Tenant ----L% Vacant $ 26.000 to $ 235.000 Predominant Value $ 100.000 ~ yrs. to---.J!.!!... yrs. Predominant Age 52 yrs. Census Tract 0061.00 Map Reference 48424 County Palm Beach State FL Zip Code 33435 o Taking Place (*) Employment Stability Convenience to Employment Convenience to Shopping Convenience to Schools Adequacy of Public Transportation Recreational Facilities Ad6lluacy of Utilities Property Compatibility Protection from Detrimental Condijlons Police and Fire Protection General Appearance of Properties Appeal to Market Good Avg. Fair Poor DIZIDD DIZIOO 01Zl00 DIZIDD OIZlOD DIZIDD DIZIDD OIZlOD DIZIDO D~OO O~DO DIZIOO Comments including those factors, favorable or untavorable, affecting marketability (e.g. pUblic parks, schools, view, noise):The sublect 0_ Is In an older residential nelahborhood. north of Boynton Beach Boulevard and west of Seac......t Boulevard In Bovnton Beach Florida. This nelahborhood has a mix of mUItt-famlly. slnale famllv. and civic use prvgertles I.e. churches and schools. Major hlghwavs are within a few miles of the subject as well as shonDlna. entertainment and recreational facilities. This neighborhood Is within the Dimensions 49.96' x 104.99' x 50.02' x 104.99' = 5.249 Sq. Ft. or Acres IXI Corner Lot Zoning classiflcation R1A. Residential District Present Improvements D do D do not conform to zoning regulations Highest and best use D Present use ~ Other (specifv\ DavelaDmant with a slnale family residence basad uoon future Single Family %onln" and Land PUblic Other (Describe) OFF SITE IMPROVEMENTS Topo Level nearlv street arade [8J Street Access ~ Public D Private Size Twlcal for nel....borhood o Surface Asphalt Shape Rectangular [8J Maintenance ~ Public 0 Private View Residential [8J IZI Storm Sewer D Curb/Gutter Drainage Appears ad_uate o Underground Elect. & Tel. DSldewalk [Xj Street Liohts Is the property located In a HUD Identified Special Flood Hazard Area? cgj NoD Yes Comments ~avorabie or unfavorable including any apparent adverse easements, encroachments, or olller adverse conditions): None notad although an Environmental Survey was not orovlded or reviewed by the aDoralser. It Is assumed that no adverse conditions exist. Elec. Gas Water San. Sewer The unders~ned has recited three recent sales of properties most similar and proximate to subject and has considered these in the mar1<et analysis. The descnption includes a dollar adjustment reflecting markel reaction to lhose items of significant variation between the subject and comparable properties. ff a signfficant ffem in lIle comparable propel1y is superior to or more favorable than the subject property, a minus (.) adjustment is made thus reducing the Indicated value of subject; IT a signfficant 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 I SUBJECT PROPERTY COMPARABLE NO.1 Address NW 6th Avenue 127 & 131 SW 1st Avenue Bovnton Beach Bovnton Beach Pr~mitv to Subject 0.41 miles S Sales Price I~ Price Der SF ....... ce Tolal Sales Price I~ N/A Data Source InsDeCtlon. Pub. Reo Date of Sale and DESCRIPTION Time Adjustment N/A Location Averaae : SnelVlew 5 249 SF Sne Utllltv Averaae Sne CondlMn Clearad OR 8ooklPaoe N/A Zenlno Pl'ODOsed SFR Sales or Financing N/A Concessions ~Ad". 1T0tal) Indicated Value of SUbject Comments on Market Data: COMPARABLE NO.2 124 NW 11th Avenue Bovnton Beach 0.33 miles NE COMPARABLE NO.3 NW 7th eourt Bovnton Beach 0.10 miles NE Is Is 70000 Public Record, Buyer's ReD. DESCRIPTION 1+ (-\$ Adiust 0112010 : Averaae + : 11555SF : Averaae : Cleared : 2~71 : R2 SFlDuDlex None 6.06 1$ Is 45000 Public Record. Buyer's Reo. Public Record DESCRIPTION 1+1- \$ Adiust DESCRIPTION 1012009 : -.30 08/2009 Averaae- : +1.00 Avera_ 7472 SF : +1.00 6830 SF Ave...e : Averaae Cleared : Cleared 23522/1828: 22828J0843 Pr.._ad SFR: Pro_ed SFR None Hone 6.02 1$ 1$ Buyer I + (- IS AdiUSt. : -.60 8.78 60000 -1.00 +2.50 : : +.25 : : : : C><J+ il-:$ 1.5 [X]+ rl-:$ 1.7 rl+ [X]-:$ '". "i.;Net. 24.8'1(, 1$ 7.56 Net.28.Ui Is 7.72 nf(el,4.il'lt Is All three sal_ wen DIven consideration In the final analysis. See attached Sales Summary. -0.35 8.43 Comments and Conditions of Appraisal: The appraiser utilized the price per square f_t to arrive at a final value for the subject. The sublect _rtv Is belna .........Isad based on Its -As Is" condition and based on the Highest and Best Use of the site. A typical buver would develoa the Drooartv with a slnale famllv residence based UDon the current and future zonlna criteria. Future zonlna and land use Is Slnale Family Residential District. Final Reconciliation: All four sales are IIlven consideration In the final analvsls. Based on the market sales and size of the sublect DroDerlv. a DrIce oar sauare foot In the middle of the adlusted Drlce scale Is Indicated for the sublect lot as of APril 30 2010 of LU"oo/SF. 1\ S~I~~rE ~HiMAR"'T VAL~E..AS DEFINED. OF SUBJECT PROPERTY AS OF April 30. 2010 Ir,p,LU...)ock!I'__ ~ Mi~h~lIe ;. tacksbn \ '.. Appralser/sl Review Aooraiser m allDlicable) _ to be $ 42.000 o Did ~ Old Not Physically Inspect Property [Y2K] Anderson & Carr, Inc. Form LND - 'WinTOTAL' appraisal software by a la mode, inc. - t.800-ALAMODE IMain File No. 2100216.0001 Paoe #31 Supplemental Addendum File No 2100216 000 Client Bovnton Beach Community RedeveloDment ADencv ProoerlY Address NW 6th Avenue Citv BovntDn Beach Countv Palm Beach State FL lio Code 33435 Lender N/A sales and other information. We have taken due care in attempting to verify the data utilized in this analysis. We based our analysis and conclusions on overall patterns rather than on specific representations. 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 an environmental inspection or a survey of the property and cannot be relied upon to disclose defects or conditions in the property or easements/encroachments. The appraiser performs an inspection of visible and accessible areas only. A survey and/or environmental inspection is recommended. Form TADD - 'WinTOTAL" appraisal software by a la mode, inc. - 1-800-ALAMDDE Subject Photo Page 50 nlon Beach Communi Address NW 61h Avenue 50 nlon Beach NlA Palm Beach Form PIC4x6.SR - "WinTOTAL' appraisal software by a la mode, Inc. - 1-800-ALAMODE IMaln Fne No 21002160001 PaGe #41 Stale FL Zi Code 33435 Subject From Street -) NW 61h Avenue Sales PrIce Price per SF G.LA. Tot. Rooms T 01. Bedrms. Tal. Battvrns. Location View Site Quality Age Average 5,249 SF NW 6th Avenue Looking East """'''''\ I NW 6th Avenue Looking West " IMaln File No 2100216 0001 Paoe #51 Subject Aerial ,-... nton Beach Communit Address NW 6th Avenue Bo nton Beach N1A Palm Beach State FL Zi Code 33435 r r" Form MAP lOC - 'WinTOTAl' appraisal software by a la mode, Inc. -1-8O().AlAMODE IMaln Ale No 2100216 0001 Paoe #71 Location Map Client Bovnton Beach Communi tv RedeveloDment Aoencv Prooertv Address NW 6th Avenue Cltv Bovnton Beach Countv Palm Beach State FL liD Code 33435 Lender N1A r'" r II L_ I , ~ It ;- \ 19 1 I I MY ~ .- ~ Q.... ~ d 'PnRidiie~', j .. J IM'\I~ Ave J ~ ~ J: ~14IJ. ~ I ~ I 9 I I l.,.; 1QIh1 ""'+ l' i \ J I l.w edl Ave l -I 1 . I I , ! ~ l J I ~, :! IT]' \ 1 ~ I \ j 1M 13th Ave l j' It I;: NW 1:2th Ave 14 lQ I I 1M lith Ave J t4l'IlOth Avt! I ~ r9thAve" I J J l ~ ~ ~. i~ 14 \0 t i :i 1 ~ 'lthAve \ '~'< r.'~ I' p;; f' f ~" r~~~M W 0<0", Ave Ocet.. A'It 1st Avt 2nd A~ ~. ~~~.t.<..- t I'" [/~f;:f, -. '" f :".--:, , " , d'" , ~ j (" swl~a <;f 9N15: A~ ~ ~. 0 i !i ~ 41!' \ ~: SE'Ith"""t \ .lQ ;c'" . SE SlhAve. - IJ 5th a ~ j I I '" SE 6th Ave/~ I 2 1 ~ ~ I' 6W1I'Ave i 56 !i: : I ~ 0$)' hf Ii III SE 9th Ave I ~ 'i 1$ II ~. ',t ~ New tolee' 14 SW 10th Ave SE 10th A~ I SWlUh""" I . SE~~ 'l i sw 131l """ j iij It, I: r'13th""" I H ~ ,1.. - '''"" ~ ;. OW ,.. ~ It'!J .... ~ ;;t:~; ~" / ')':.3 r~!E 1M""" j . '. ~ ScQh Blud. \ J tt l / N~Poi1tlllud ,,- ] !lib"'" ~ . I Hi9!tPOOlBW I 'i"\ ,v 56 Ia SE,21st: A....' ~..- I I:J~"'Q , ,_ I ~ ~ l~l./~O \'4..~ l~ l~dAve J, ~ lQ ~ 9N~_ -~ i'~ 1:1 sw 1<<> of SE 23rd Aue './1' III ...c J :MthAve I 1i-!9- ~ Sl!:MthAve i --, ~ ~ 25th Ave - i 11' ..sw2S111"~! SE-~. """ ;1.' -1l ; ~Z5ll\1'l I ~ I SE26lhAve + _iii L it I I 171 SE 27th Way E 1-1 -+ f 2'11h Ave ~ f I _.a-.- 11 fE 27th a IKti.. _, _ SE2'11h PI X l i~ E SE2711lWO'flll ,- - I "'. "-1 ~ ~ 2l!lh a -1 f.IUlu,lM:- --... ""f I Oc..... RIdge HaiJ.... Dr N }" ~. ;,,~ :i"' Horb<u Dr S r )ie~ Adams R I I J W26th """ t .!I ,t. j f~M B', I " r.,.a. ~ 8 SaI""" l.ft z: 'r.~ptl ~. - I ~ I L: tMcJ.~Il~ ,~-':'"'!~;t' ~. . . r:~~-- ~j ~ T l--l{?'~ 1 .~, ~ .... Siit~ I ffl\\\ Cllb . ''ii' ~..,." ,. i.<i.: ........: ......~ ~ ;"'-'l.iIle cw. ~ --;7M: " f~~~ ~ l~ ;.>' ..oct..ay Of t I 0.2 , 0,3 5<010 :+ - Form MAP.LOC - 'WInTOTAL' appraisal software by a Ia mode, Inc, -1-8QO.ALAMOOE IMaln File No 2100216 0001 Paoe #91 Comparable 2 Aerial ( ~ B nton Beach Communi Address NW 6th Avenue B nton Beach N/A Palm Beach State FL Zi Code 33435 ( ,..... Form MAP PLAT - 'WinTOTAl' appraIsal sof1ware by a la mode, Inc. -l.80().ALAMOOE IMain File No 2100216.0001 Pace #111 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all cond~ions requis~e to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implic~ in this definition is the consummation of a saie as of a specified date and the passing of t~ie from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he 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 soid unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. 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 mallers of a legal nature that affect either the property being appraised or the titie to it. The appraiser assumes that the title is good and marketable and, therefore, will not render any opinions about the titie. The properly is appraised on the basis of ~ being under responsibie 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 properly 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, uniess specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land In the cost approach at ~s 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 cond~ions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject properly or that he or she became aware of during the normal research involved in performing the appraisal. Unless otherwise slated in the appraisal report, the appraiser has no knowiedge 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 properly. 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 fieid of environmental hazards, the appraisal report must not be considered as an environmental assessment of the properly. 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 fumished 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 appraisai 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 wrillen 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 appraisai 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 federally approved financial institution: or any department, agency, or instrumentality of the United States or any state or the District of Colum bia; except that the lender/client may distribute the properly description section of the report only to data collection or reporting service(s) w~hout having to obtain the appraiser's prior written consent. The appraiser's wrillen consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising, publiC relations, news, saies, 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 - 'WinTOTAL" appraisal software by a la mode, inc. - 1-80O-ALAMODE Bo nton Beach Communi Address NW 6th Avenue Bo nton Beach N/A IMain FHe No 21002160001 Paoe #131 File No. 2100216.000 State FL Zi Code 33435 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. 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 contexi of the competency provision of the Uniform Standards of Professional Appraisal Practice. 14. The use of this report is subject to the requirements of the Appraisal Institute relating to review by Its duly authorized representatives. The use of this report Is subject to the requirements of 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 client. It may not be used or relied upon by any other party. Any party who uses or relies upon any Information In this report, without the 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, SRA has completed the requirements of the continuing education program of the Appraisal Institute. 17. Neither all nor any part of the contents of this report shall be conveyed to any person or entity, other than the appraiser's or firm's client, through advertising, solicitation materials, public relations, news, sales, or other media without the written consent and approval of the authors, particularly as to valuation conclusions, the identity of the appraiser or firm with which the appraiser is connected, or any reference to (affiliation with any professional appraisal organization) or (designation). Further, the appraiser or firm assumes no obligation, liability. or accountability to any third party. If this report Is placed in the hands of anyone but the client, client shall make such party aware of all the assumptions, limiting conditions and additional language of the assignment. 18. The reported analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. 19. To the best of our knowledge, the subject property does not possess any natural, cultural, recreational historical 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. 20. We were not provided with an environmental audit. We assumed that no adverse environmental soli or sub-soli conditions are present on or near the subject site that would tend to adversely affect the value or marketability of the property. However, If contamination Is found to be present at the subjeet site that significantly affects value, we reserve the right to change our value. 21. Our compensation for completing this assignment Is not contingent upon the development or reporting of a predetermined value or direction In value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the Intended use of this appraisal. 22. ACCEPTANCE OF, AND'OR USE OF THIS APPRAISAL REPORT CONSTITUTES ACCEPTANCE OF THE PRECEDING CONDITIONS. Form SUP - 'WinTOTAl' appraisal software by a la made, inc. -1-BOO-ALAMOOE IMain File No. 2100216 0001 Paoe #151 Qualifications Coun Palm Beach State FL Zi Code 33435 QUAIJFICATIONS OF APPRAISER MICHElLE J. JACKSON GENERAL INFORMATION State - Certified General Real Estate Appraiser RZ3316 Associate Member of the Appraisal Institute South Florida OIapter EDUCATION AND SPECIAL'IRAINING Palm Beach Community College. lake Worth, Florida M( Majors - Architecture and rme Art) 1984 Practiced Architectural Design in Palm Beach, Florida from 1985 through 1993. Successfully completed and passed the following COUIlles: FREAB Residential Appraisal CoUIlle I, January 2005 MREA Residential Appraisal Course IT.1une 2006 FREAB Certified General Appraisal Course, October 2007 AI- General AppraiSer Income Approach (part I). April 2008 USPAP, June 2008 Engaged in appraising real estate on a full time basis with: Appraisal Realty Institute; March 2005 North Palm Beach, Florida Anderson & Carr, me, March 2006 West Palm Beach, Florida Resident of Palm Beach County since 1971. TYPES OF PROPERllES APPRAISED VaCBIit Commercial Land Vacant Residential Land Commercial Buildings Industrial Buildings Insurable Value Reports - Residential and Commercial Single Family Residences Condominiums - Residential and Commercial 2-4 Family Residential Buildings Retail Stores Self-Storage Facilities Film Production Studios Form MAP.PLAT - 'WinTOTAl' appraisal software by a la mode, inc. -1-llOO-ALAMOOE ,-",j.~~.4ll'~' ""'~'"-""""~~"""v-~ -~ ~ - -, i ~. .4''''''f_''''''''- --17 ~f~~~&-~""w..1r.?!~~';;lli~~~~'~~~'~m.lf~'!i~''''''''~"';H'b-''''~ -tt~f-'l'i:'..........",..........."".,..,.... "~"""'~'lo<'..~~>,i:g;;i,i' i" '--.!<';'-,-4J.v.,-''-''l/f~''-''-'''"'---~,idl.j~A:' XII. NEW BUSINESS: c. Consideration of an RFP for Four Vacant Lots Within HOB ~lt~. ~~~~Y~T8~'CRA iiIi East Side-West Side - Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I I Consent Agenda I I Old Business I X I New Business Legal Other SUBJECT: Consideration ofIssuing an RFP for the Redevelopment of Four Vacant Lots in HOB SUMMARY: The Heart of Boynton Community Redevelopment Plan identifies extensive vacant lots as a major area of concern. The community also identified infill development as a major action to be undertaken to improve the community. Vacant lots add to neighborhood blight by acting as illegal dumping locations. Often the lots are not properly maintained and are overgrown. The redevelopment of vacant lots strengthens the neighborhood fabric. Since 2006, the CRA has facilitated the development of 14 new single-family homes throughout the Heart of Boynton'neighborhood. Currently, the CRA has three, with a contract on a fourth, single-family vacant lots in HOB. If the Board elects, the attached Request for Proposal can be published for the redevelopment ofthe four lots. The RFP time line would be as follows: May 13,2010 June 16,2010 June 30, 2010 July 13,2010 Request for Proposals Issued Proposals due by 4:00 pm Ranking of Proposals Presentation of top ranked proposals to CRA Board and selection of proposer to begin negotiations. Approval of purchase agreement by CRA Board August 10,2010 Criterions by which the response will be measured are: 1. Conformance with RFP requirements; 2. Compatibility of the home designs with the Heart of Boynton Community Redevelopment Plan; 3. Proposers experience with similar projects and communities; 4. The ability to proceed quickly on the development of the homes; 5. The ability and experience to obtain down payment subsidy for buyers of the homes; 6. The incorporation of energy and water efficient systems in the homes. 7. Proposed upgrades and amenities such as an alarm system, fenced yard, covered porches, ceiling fans, etc. 8. Price offered for the land along with a development pro forma supporting the land price. FISCAL IMPACT: Currently three of the lots are not on the tax rolls since they are owned by the CRA. Therefore no revenue is being generated by the land. The fourth lot is generating $217 to the CRA. Once the homes are completed and on the tax rolls, approximately $900 per home per year will be generated in TIP. CRA PLAN, PROGRAM OR PROJECT: Heart of Boynton Community Redevelopment Plan Publish the RFP for the development of four single-family vacant lots. 'U- ~, Isa Bright Executive Director T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\RFP 4 HOB Lots.doc Request for Proposals Heart of Boynton Community Redevelopment Project Boynton Beach, Florida The Boynton Beach Community Redevelopment Agency (Agency), is soliciting proposals from qualified development entities to redevelop scattered site, single-family homes on vacant land owned by the Agency in order to further the implementation of the Heart of Boynton Community Redevelopment Plan. The Heart of Boynton neighborhood is a 380-acre area located in downtown Boynton Beach, Palm Beach County, Florida (See Attachment "A). The community is bounded by Interstate 95 to the west, Federal Highway to the east, Boynton Beach Boulevard to the south, and the C-16 canal to the north. 86% of the residents are African-American and the median household income is $32,271 compared to Palm Beach County's median household income of $66,400. There are approximately 3,167 neighborhood residents. The goal of the Boynton Beach Community Redevelopment Agency is the revitalization of the Community Redevelopment Area a pursuant to Florida State Statute 163.3. As part of the Agencies redevelopment strategies, the Agency has been acquiring land within the Heart of Boynton area with the intent of partnering with the private sector to redevelop the land. In preparing responses to the RFP, interested parties should familiarize themselves with The Heart of Boynton Community Redevelopment Plan. The Plan is available on-line at www.boyntonbeachcra.com under the Plans and Studies heading. Background: The City of Boynton Beach, with a population of about 66,000, is the third largest city in Palm Beach County, Florida. It is located approximately 45 miles north of Miami and 15 miles south of West Palm Beach. This puts it in the heart of southeast Florida's tri-county Miami-Dade/Broward/Palm Beach Metropolitan area. Boynton Beach has direct access to the Intracoastal Waterway and both Interstate 95 and the Florida Turnpike. It also has a market of more than 6 million people within a two-hour radius and easy access to three international airports, two major rail lines, as well as the Tri-Rail regional commuter rail system. The City has introduced new mixed-use land use and zoning within the CRA which has had the effect of attracting new residential based mixed-use development to the City's downtown core. Project Description: The goal of the Heart of Boynton Community Redevelopment Plan is to promote the physical and social revitalization of the community through selective property acquisition and clearance, combined with new single family, multi-family housing and commercial infill development. The objective of this project is to provide new and decent affordable housing alternatives for residents, while maintaining the basic character, scale and integrity of the community as a whole. The Agency is seeking proposals for the development of four single-family homes on vacant lots within the Heart of Boynton neighborhood. The Property Control Numbers of the lots are: T:\DEVELOPMENT\HOB\RFP 4 SF Lots\4 SF Lot RFP HOB.doc 3 8. A promotional PowerPoint presentation, consisting of between 5 and 10 slides should be included in the proposal packet. 9. A statement explaining the role of disadvantaged and/or small and minority-owned business enterprises in the project. Evaluation and Selection: A committee composed of Community Redevelopment Agency staff will conduct the initial evaluation of the proposals. The following criteria will be considered when reviewing and ranking responses; 1. Conformance with RFP requirements; 2. Compatibility of the home designs with the Heart of Boynton Community Redevelopment Plan; 3. Proposers experience with similar projects and communities; 4. The ability to proceed quickly on the development of the homes; 5. The ability and experience to obtain down payment subsidy for buyers of the homes; 6. The incorporation of energy and water efficient systems in the homes. 7. Proposed upgrades and amenities such as an alarm system, fenced yard, covered porches, ceiling fans, etc. 8. Price offered for the land along with a development pro forma supporting the land price. The committee will rank the proposals based on the above criteria and make recommendations to the CRA Board. The top ranked proposers may be requested to present their PowerPoint slide presentation before the CRA Board for consideration. The CRA Board may elect to reject all proposals and reissue the RFP. Following this public presentation the Board may select a developer to begin negotiations on a contract and development agreement for the sale of land. Timeline: May 13, 2010 June 16, 2010 June 30, 2010 July 13, 2010 Request for Proposals Issued Proposals due by 4:00 pm Ranking of Proposals Presentation of top ranked proposals to CRA Board and selection of proposer to begin negotiations. Approval of purchase agreement by CRA Board August 10, 2010 Submittal Requirements: To be considered, ten bound copies of the Development Proposal should be submitted to the following: Lisa A. Bright Executive Director Boynton Beach Community Redevelopment Agency 915 S. Federal Highway Boynton Beach, FL 33435 brio htl@bbfl.us 561-737-3256 X216 T:\DEVElOPMENT\HOB\RFP 4 SF lots\4 SF lot RFP HOB.doc 412912010 ATTACHMENT "A" Heart of Boynton Neighborhood 1 I I I ,-' '.~ . t' I , 1 'I I i I i I I'. I ,I I I, /) T:\DEVELOPMENT\HOB\RFP 4 SF Lols\4 SF Lot RFP HOB.doc r'" EX.HIBIT "B" Location of Lots (... r T:\DEVELOPMENT\HOB\RFP 4 SF Lots\4 SF Lot RFP HOB.doc i~~'i;:i;"-~-->~~~.~~..~~"'~,l;t>''''~''''''''''-~'''-iI_'~~~''1'~~'>A'L:'*-,i;;"'~';;'!!i."~"'!~~..Iii:.l,~;,~.u;;.:!ii.'~~~..~, '"';;;il.:~~~'~~:;~~JiikU~~i;;';~:X:\l,:':"~'if&.io1['if&.1"*-1:llt&~I~'~i~,,,~:;W'::\'~~~~''''';''''' XII. NEW BUSINESS: D. Consideration of Options on Mortgage Foreclosure- HAP Recipient Shonae Trotman ~~~qY~Te~ eRA III East Side-West Side-Seaside Renaissance eRA BOARD MEETING OF: May 11,2010 I Consent Agenda I I Old Business I X I New Business Legal Other SUBJECT: Consideration of Options on Mortgage Foreclosure Action of HAP recipient Shonae Trotman. SUMMARY: On November 14,2007 the Board approved HAP funds for Shonae Trotman in the amount of $50,000.00. The closing for the purchase of the property was held on September 4,2008 at which time the HAP funds were disbursed to the Seller. On March 30, 2010, the CRA was served with a Complaint for foreclosure by David J. Miller, Esq. on behalf ofHSBC Mortgage Corporation USA. The CRA's Answer to the Complaint is due Friday, May 14,2010. CRA staff is looking for direction from the Board on how to answer the complaint. CRA legal counsel presented the following options for the Board to consider in this matter: Option 1: File an Answer only. If the foreclosure goes through, the property is sold, and there is money left over after satisfying the first mortgage, the CRA could get some or all of the remaining money. Option 2: File an Answer and Cross-Claim to foreclose on the CRA's second mortgage. If the foreclosure goes through successfully, this would result in a judgment being entered against the homeowner in favor of the CRA. So, if the homeowner were to come into a large sum of money (such as winning the Lottery), the CRA's $50,000 judgment against the homeowner would be satisfied by such money. The cost for filing a cross-claim with the Clerk of court is approximately $395. As background information for your consideration, the CRA Board approved Option 1 for HAP recipient, Faith Dickens (9/24/09) and Option 2 for HAP recipient, Kathleen Barbee (12/8/09). Shone Trotman is the third HAP grant recipient to go into foreclosure since the program's inception. FISCAL IMP ACT: To be determined. CRA PLAN, PROGRAM OR PROJECT: Homebuyer's Assistance Program RECOMMENDATIONS: Option 1 or Option 2 outlined above. T:\AGENDAS, CONSENT AGENDAS, MONTHLY REPORTS\Completed Agenda Item Request Forms by Meeting\FY 2009 - 2010 Board Meetings\05-11-10 Meeting\Mortgage Foreclosure-HAP Shonae Trotman.doc 3&fto !o2cq P1'-I< ,,'_. . }~ IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIDA CIVIL ACTION HSBC MORTGAGE CORPORATION USA, Plaintiff, vs. ~~SI~. 2010 CA 0 0 83 1 6 XXXX II SHONAE TROTMAN, et ai, Defendant(s). CIVIL ACTION SUMMONS THE STATE OF FLORIDA: TO EACH SHERIFF OF THE STATE: YOU ARE COMMANDED to serve this Summons and a copy of the Complaint and Notice of Lis Pendens in this lawsuit upon the below-named Defendant: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, A FLORIDA PUBLIC BODY CORPORATE AND POLITIC CREA TED PUR~UANT TO SECTION 163.356 F.S. c/o Mayor, leny Taylor 915 South Federal . hway B , FL 33435 IMPORTANT The defendant is required to serve written defenses to the complaint on David 1. Miller, Esq., whose address is P.O. Box 23028, Tampa, FL 33623, within (20) days after service of this summons on that defendant, exclusive of the day of service, and to file the original of the defenses with the clerk of this court either before service on plaintiffs attorney or immediately thereafter. 1 f a defendant fails to do so, a default will be entered against that defendant for the relief demanded in the complaint. PLAINTIFF/PLAINTIFF'S ATTORNEY: David J. Miller, Esq. Albertelli Law P.O. Box 23028 Tampa, FL 33623 (813) 221-4743 DATED on EXPEDITE: FIDELITY MAR Z 4: 2010 gHARON R. BOCK ,201O.lark & Comptroller Clerk of Circuit Court MICRRIRSHEPHERD By: Deputy Clerk DL - 10-38645 * See Attachment for Spanish and French translation. * See Attachment for Americans with Disabilities Act PROVEST, INC. .::r~ SHARON R. BOCK Clerk & Comptroner "-. P 0 Bov j;r-:p,7 ,. . ...,J ." ."a lO ft ,. . 'r;~1.1:;"1 fio,~u ',,\f~,..,t p;\I.,i J....... ., -i~-- , I ? ~~il:1'?" ".. ,,", ~1f1o"..l'~'. ."-;.... . :~m IMPORTANT If you are a person with a disability who needs any accommodation in order to participate in this proceeding, you are entitled, at no cost to you, to the provision of certain assistance. Please contact the ADA Coordinator in the Administrative Office of the Court, Palm Beach County Courthouse, 205 North Dixie Highway, Room 5.2500, West Palm Beach, Florida 33401; telephone number (56])355-4380 within two (2) working days of your receipt of this [notice]; if you are hearing or voice impaired, call 1-800-955- 8771. To file response please contact Palm Beach County Clerk of Court, 205 N. Dixie Highway, Room 323, West Palm Beach, FL 3340], Tel: (56]) 355-2986; Fax: (56]) 355-7060. IMPORTANTE Usted ha sido demandado legalmente. Tiene veinte (20) dias, contados a partir del recibo de esta notificacion, para contestar ]a demanda adjunta, por escrito, y presentar]a ante este tribunal. Una Hamada te]efonica no 10 protegera; si usted desea que el tribunal considere su defensa, debe presentar su respuesta por escrito, incluyendo el numero de] caso y Ios nombres de las partes, interesadas en dicho caso. Si usted no contesta la demanda a tiempo, pudiese perder el caso y podria ser despojado de sus ingresos y propiedades, 0 privado de sus derechos, sin previo aviso del tribunal. Existen otros requisitos legales. Si 10 desea, puede usted consultar a un abogado immediatamente. Si no conoce a un abogado, puede lIamar a una de las oficinas de asistencia legal que aparecen en Ja guia telefonica. Si desea responder a la demanda por su cuenta, al mismo tiempo en que presenta su respuesta ante el tribunal, debera usted enviar por correo 0 entre gar una copia de su respuesta a ]a persona denominada abajo como "Plaintiff/Plaintiffs Attorney" (Demandate 0 Abogado del Demanadante). IMPORTANT Des poursuites judiciaries ont ete entreprises contre vous. Vous avez (20) jours consecutifs a partir de ]a date de I'assignation de cette citation pour deposer une reponse ecrite a la plainte ci-jointe aupres de ce Tribunal. Un simple coup de telephone est insuffisant pour vous proteger; vous etes oblige de deposer votre reponse ecrite, avec mention du numero de dossier ci-dessus et du nom des parties nomrnees ici, si vous souhaitez que ]e Tribunal entende votre cause. Si vous ne deposez pas votre reponse ecrite dans Ie relai requis, vous risquez de perdre la cause ainsi que vO,tre sa]aire, votre argent, et vos biens peuvent etre saisis par la suite, sans aucun preavis ulterieur du Tribunal. II y a d'autres obligations juridiques et vous pouvez requerir les services immediats d'un advocat. Si vous ne connaissez pas d'avocat, vous pourriez telephoner a un service de reference d'avocats ou a un bureau d'assistance juridique (figurant a I'annuaire de telephones). Si vous choisissez de deposer vous-meme une reponse ecrite, il vous faudra egalement, en meme temps que cette formalite, faire parvenir ou expedier une copie au carbone ou une photoeopie de votre reponse ecrite au "P]aintiff/Plaintiffs Attorney" (P]aignant ou a son avocat) nomme ci-dessous. IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIDA CIVIL ACTION HSBC MORTGAGE CORPORATION USA, Plaintiff, ~~~I~i) 2010CA 0 0 8316XXXX IS vs. SHONAETROTMAN,cla~ Defendant(s). AI CIVIL ACTION SUMMONS THE STATE OF FLORIDA: TO EACH SHERIFF OF THE STATE: YOU ARE COMMANDED to serve this Summons and a copy of the Complaint and Notice of Lis Pendens in this lawsuit upon the below-named Defendant: BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, A FLORIDA PUBLIC BODY CORPORATE AND POLITIC CREATED PURSUANT TO SECTION 163.356 F.S. c/o Mayor, Jerry Taylor 915 South Federal Highway Boyton Beach, FL 33435 IMPORTANT The defendant is required to serve written defenses to the complaint on David J. Miller, Esq., whose address is P.O. Box 23028, Tampa, FL 33623, within (20) days after service of this summons on that defendant, exclusive of the day of service, and to file the original of the defenses with the clerk of this court either before service on plaintiffs attomey or immediately thereafter. If a defendant fails to do so, a default will be entered against that defendant for the relief demanded in the complaint. PLAINTIFF/PLAINTIFF'S A TTORrJiW\RON R. BOCK David J. ~iIIer, Esq. Clark & comptrollehXPEDITE . Albertelh Law . E . P.O. Box 23028 Tampa, FL 33623 (813) 221-4743 FIDELITY MAR 24 20101 DA TED on ,2010. Clerk of Circuit Court MICHELE sHEPHEllD By Deputy Clerk DL - 10-38645 * See Attachment for Spanish and French translation. * See Attachment for Americans with Disabilities Act PROYEST, INC. SHAFrON Clerk & R. BOC/( P.o.. aox~mptrOller \ West P I ~67 83402~~ BeaCh, ~ ~.".:.:. , ~"1 JMPORTANT ]f you are a person with a disability who needs any accommodation in or&r to participate in this proceeding, you are entitled, at no cost to you, to the provision of certain assista!Jll:e. Please contact the ADA Coordinator in the Administrative Office of the Court, Palm Beach County Courthouse, 205 North Dixie Highway, Room 5.2500, West Palm Beach, Florida 33401; telephone number (561)355-4380 within two (2) working days of your receipt of this [notice]; if you are hearing or voice iowa ired, call 1-800-955- 8771. To file response please contact Palm Beach County Clerk of Court, 205 N. Dixie Highway, Room 323, West Palm Beach, FL 3340], Tel: (561) 355-2986; Fax: (561) 355-7060. JMPORTANTE Usted ha sido demandado legalmente. Tiene veinte (20) dias, contados a f2rtir del recibo de esta notificacion, para contestar la demanda adjunta, por escrito, y presentarla ante este lIribunal. Una Hamada telefonica no 10 protegera; si usted desea que el tribunal considere su defensa, debe presentar su respuesta por escrito, incluyendo el numero del caso y los nombres de las partes, interesadas c:n dicho caso. Si usted no contesta la demanda a tiempo, pudiese perder eI caso y podria ser despoja1o de sus ingresos y propiedades, 0 privado de sus derechos, sin previo aviso del tribunal. Existen otros m:quisitos legales. Si 10 desea, puede usted consultar a un abogado immediatamente. Si no conoce a un alrogado, puede lIamar a una de las oficinas de asistencia legal que aparecen en ]a guia telefonica. Si desea responder a la demanda par su cuenta, al mismo tiempo en que praenta su respuesta ante el tribunal, debera usted enviar por correo 0 entregar una copia de su respuesta a b persona denominada abajo como "Plaintiff/Plaintiffs Attorney" (Demandate 0 Abogado del Demanadante).. IMPORTANT Des poursuites judiciaries ont ete entreprises contre vous. Vous avez (10) jours consecutifs a partir de la date de I'assignation de cette citation pour deposer une reponse ecrite a la plainte ci-jointe aupres de ce Tribunal. Un simple coup de telephone est insuffisant pour vous protep; vous etes oblige de deposer votre reponse ecrite, avec mention du numero de dossier ci-dessus et du nom des parties nommees ici, si vous souhaitez que Ie Tribunal entende votre cause. Si vous ne deposez pas vlllCre reponse ecrite dans Ie relai requis, vous risquez de perdre la cause ainsi que vo,re salaire, votre argent, et'lOS biens peuvent etre saisis par la suite, sans aucun preavis ulterieur du Tribunal. 1I y a d'autres obligatlinms juridiques et VOllS pouvez requerir les services immediats d'un advocat. Si VOllS ne connaissez pas Ia,vocat, vous pourriez telephoner a un service de reference d'avocats ou a un bureau d'assistance juridique (figurant a l'annuaire de telephones). Si vous choisissez de deposer vous-meme une reponse ecrite, il vous faudr.a egalement, en meme temps que cette formalite, faire parvenir ou expedier une copie au carbone au une photocopie de votre reponse ecrite au "Plaintiff/Plaintiffs Attorney" (Plaignant au a son avocat) nomme cHlessous. Note: Please read Exhibits B, C, D, & E IMPORTANT NOTICE TO HOMEOWNER A FORECLOSURE ACTION HAS BEEN FILED AGAINST YOU YOU HAVE RIGHTS DURING THE FORECLOSURE LEGAL You are urged to seek legal counsel to protect your rights and your home. If you are able to afford an attorney, you may contact the Palm Beach County Bar Association Lawyer Referral Service at 561-687-3266 or 561-4513256 (BocafDelray) If you cannot afford an attorney, you may contact your locallegalllid or legal services provider. Legal Aid Society of Palm Beach County, Inc. 561-655-8944 Florida Rural Lega I Services, Inc. 561-820-8902 561-993-0003 (Belle Glade) HOUSING COUNSELING Acorn Housing Corporation Consumer Credit Counseling Services, Inc. Credit Card Management Services 561-588-7618 800-251-2227 561-472-8000 Delray Community Development Corporation 561-266-9840 Housing Paltnership, Inc. 561-841-3500 Li fe Improvement for Tomorrow, Inc. 561-868-7026 Urban League ofpalm Beach County, Inc. 561-833-1461 Hope Now 888-995-HOPE Housing Leadership Council of Palm Beach County 561-6)3-4 107 One or more of the followine: options may be a'lluilable to help you save your home. Contact a Housinl! Counseling agency to find out additional information. Reinstatement: Repayment of the total amount that you are behind in a lump sum payment. Forbearance: iemporary reduction or suspension of your mortgage payments. Repayment Plan: Agreement that allows the homeowner to repay the amount that you are behind grndually while making your regularly scheduled monthly payments. Loan Modification: Written agreement that permanently changes one or more of the original terms of your mortgage to make the payments more affordable. Short Sale: Lender may allow you to sell the home for less than the total amount owed on the mortgage. If lender agrees to the short sale, the remaining portion of the mortgage that exceeds the net proceeds from the sale will be written offby the lender. Deed-in-lieu of foreclosure: Lender will cancel the mortgage if the homeowner voluntarily transfers the title of the property to the mortgage lender. AVOID FORECLOSURE RESCUE SCAMS: You may be contacted by individuals or companies that claim they can save your home from foreclosure. Please seek legal advice before you sign any documents or pay money to anyone offering to save your home from foreclosure. If you think that you have been a victim of a foreclosure scam, you may call one of the following numbers for assistance: Florida Department ofFinancial Regulation Federal Trade Commission Office of the Attorney General Consumer Services Division of Florida Department of Agriculture EXHIBIT "A" - NOTICE TO HOMEOWNER 1-800-342-2762 1-877-382-4357 1-866-966-7266 1-800-435-7352 DL - 10-38645 INFORMACION IMPORT ANTE PARA LOS DUENaS DE VTVIENDA UN A VISO DE REPOSECION DE SU VIVIENDA SE HA [NICIADO EN CONTRA SUY A USTED TIENE DERECHOS DURANTE EL PROCESO DE REPOSECION LECA L Usted debe bllscar consejo legal para proteger sus derechos y su vivienda. Si usted puede pagar un abogado, puede contoctar the Palm Beach County Bar Association Lawyer Referral Service al (561) 687-3266 6 (561) 451-3256 (Boca/Delrey). Si usted no puede pagar un abogado, puede contactar su agenda local de ayuda legal 6 proveedor de servicios legales. Legal Aid Society of Palm Beach County, Inc. Florida Rural Legal Services, Inc. 561 655-8944 561 820-8902 561993-0003 (Belle Glade) AGENCIAS DE ASESORAMIENTO VIVIENDA Acorn Housing Corporation 561-588-7618 Consumer Credit Counseling Services, Inc. 800-251-2227 Credit Card Management Services 561-472-8000 Delray Community Development Corporation 561-266-9840 Housing Partnership, Inc. 561-841-3500 Life Improvement for Tomorrow, Inc. 561-868-7026 Urban League of Palm Beach County, Inc. 561-833-1461 Hope Now 888-995-HOPE Housing Leadership Council of Palm Beach County 561-653-4107 Una 6 mas de las siguientes opciones estaran a su disposici6n para ayudarlo a salvar su casa. Conwcte una agencia de Asesoramiento de Vivienda para encontrar infonnaci6n adicional. Reestablecimiento: Reembolso de la cantidad total atrasada en un solo pago. Tolerancia/Paciencia: Reducci6n 0 suspensi6n temporal de SllS pagos de hipoteea. Plan de reembolso: Acuerdo que pennite al duei'io de la vivienda pagar la cantidad que est a atrasado graduall11ente, mientras que haec el pago acordado 0 programado de su euota mensual regularmerite. Modificaci6n del Prestamo: Acuerdo escrito que cambia permanentemente uno 6 mas de 105 terminos originales de su hipoteca, para hacer pagos que usted pueda pagar. Yenta Corta: EI banco puede pennitirle vender su casa por menos del valor .que usted debe de la hipoteca. EI banco aprueba la venta carta, la porci6n restante de la hipoteca, despues del valor de venta de la casa sera asumida por el banco. Deed-in-lien of Foreclosure: EI banco cancelara la hipoteea si el propietario voluntariamente transfiere el titulo de propiedad al banco. EVITE ENCANOS SOBRE EL TRATAR DE SALVAR SU PROPlEDAD DE LA REPOSECION: Usted puede ser contactado por ii1dividuos 0 compai'iias que ofrecen salvar su casa de la reposeci6n. Por favor busquc consejo legal antes de firmar cualquier documento 0 antes de pagar dinero a cualquiera que se orrezca a salvar su casa de la reposeci6n. Si usted piensa que ha sido victima de un engai'ia sabre 1a reposecion de su vivienda, puede cantactar uno de los siguientes numeros para asistencia. Florida Department of Financial Regulation federal Trade Commission Office of the Attorney Genera I , Consumer Services Division of the Fla. Dept. Of Agriculture Exhibit "A" - NOTICE TO HOMEOWNER 1-800-342-2762 1-877-382-4357 1-866-966-7266 1-800-435-7352 IMPORT AN POU MOUN KJ GIN KAY MIN ACTION BANK YO PRAN POD YO SEZI KAY QU. GINYIN L W A POU MOUN T ANKOU- W POU 81 BANK YO T A VLE SEZl U y OU LEGAL - NOU MANDE POU-W CHACHE YON A VOKA POU-W MANDE KI DWA OU GINWlN. SI OU GIN KOB POU.W PRAN YON AVOKA. OU MET RELE PALM BEACH COUNTY BAR ASSOCIATION LAWYER REFERRAL SERVICE NAN NIMERO SA 561-687.3266 OUBYEN 561-451-3256 (SI OU RITE DELRAY/BOCA RATON) SI OU PA GIN I<OB POU YON AVOKA RELE: LEGAL AID SOCIETY OF PALM BEACH COUNTY. INC. FLORIDA RURAL LEGAL AID SERVICES, INC. 561-615-8944 561-810-8902 (BELLE GLADE) 561-9\3-0003 COMPANI OU KA RELE POU-W MANDE INF'ORMASION ACORN HOUSING CORPORATION 561-518-7618 CONSUMER CREDIT COUNSELING SERVICES, INC. 800-211-2227 CREDIT CARD MANAGEMENT SERVICES 561-4t2-8000 DELRA Y COMMUNITY DEVELOPMENT CORP. 561-2f6-9840 HOUSING PARTNERSHIP, INC. 561-8~1-3500 LIFE IMPROVEMENT FOR TOMORROW, INC. 56[-~-7026 URBAN LEAGUE OF PALM BEACH COUNTY, INC. 561-8IJ-146I HOPE NOW 888-9'\l5-HOPE HOUSING LEADERSHIP COUNCIL OF PALM BEACH COUNTY 561-5ii3-4107 OU GINYIN YOUN OUBYEN PLUS OPTION KI KAPAB D1SPONIBE POU EDE-W KINBE KAt' OU REINSTATEMENT: POU-W PEYE TOUTE KOB OU TE DWE YO F' ~EARANCE: YAP REDUI OUBYEN SUSPANN KOB OU KONN PEYE KAY LA CHARMWA POU YON TI 1 REPA YMENT PLAN: YON PLAN KI PERMET MET KA Y LA PEYE TOUTE KOB LI TE D~E YO AN TI MOSO EPI rOUTE KOB OU KONN PEYE CHAK MWA. LOAN MODIFICATION: YON NOUVEL ANGAGEMAN SOU PAPIE KAP PERMET OU CmNGE KEK SAGA Y NAN PREMIE ANGAGEMAN POU-W KAPAB PEYE KAY LA PI FASIL SHORT SALE: ANPIL BANK KA PERMET OU POU-W VAN KAY LA POU YON TI KOB I!rl PI PITI KE SA OU DWE A. SI BANK LA ACEpTE ANPIL FWA YO PAP PENALlZE-W POU RES KOB YO PEDl'?. lEED-IN-LIEU OF FORCLOSURE: ANPIL FWA BANK YO ACEPTE POU-W TRANSFEREPAPIE KA Y LA SOU ~ON YO POU YO KAPAB RETIRE KAY LA SOU NON-W OU EVITE VOLEUR: TOUJOU CONTACTE YON MOUN OU BIEN YON AVOKA Kl KAPABE EOE OU. PA IYIN PAPIE EPI PA BAY KOB AK MOUN KI PA GINYIN YON KOMPANl KE GOUVEINEMAN REKONET. EYE VOLEUR. . OU PANSE au SE YON VIKTIM KI TE PRAN KOU DEJA NAN MEN YOUN NAN MCllN SA YO, OU MET ~LE YOUN NAN NIMERO SA YO pOU YO KA EOE-W. ORIDA DEPARTMENT OF FINANCIAL REGULATION DERAL TRADE COMMISSION FICE OF THE ATTORNEY GENERAL .A. DEPT. OF AGRICULTURE 800-342.,2162 877-3824357 866-966-7266 800-435-7351 Exhibit "A" - NOTICE TO HOMEOWNER DEFENDANT BORROWER'S FORECLOSURE QUESTIONNAIRE **IF YOU WOULD LIKE TO REQUEST A LOAN MODIFICATION FROM YOUR LENDER, PLEASE COMPLETE THIS PAGE AND FOLLOW THE DIRECTIONS BELOW** Borrower(s) names(s): Phone Number(s): _ (daytime) (evening) Address: DIRECTIONS: If you would like to request a loan modification from your lender, please fill out this page and follow the directions below: l. Submit clear copies of the following documents to Plaintiff/lender's ;:tttS;ll"-Y (the address can be found on the summons or on the last page of the Complaint for Foreclosure). Do NOT send the original or your only copies of documents. a. Two years Tax Retul11s; and b. Proof of Current Employment (three months wage slips or other proof); an d c. Proof that you reside in the property (ie: last month electlic, phone or water bill) 2. Complete the attached Financial Statement (Exhibit "D") J. FOR SHORT SALE APPLICANT (a sale on your home is pending): a. Executed sales contract; and b. Proposed HUD- I 4. Return this form (Exhibit "en) and the above listed documents and the Financial Statement (Exhibit OlD") to the Plaintiff: Mail all necessary documents to the Plaintiff/Lender's Attorney whose address can be found on the Summons or on the last page of the foreclosure complaint. 5. File the Attached Notice of Compliance (Exhibit "E") with the Clerk of Court: Complete and send the attached Notice of Compliance (Exhibit "E") to the Clerk of Court: Circuit Civil Division, 205 North Dixie Highway, West Palm Beach, Florida 33401. Do NOT file the financial documents with the Clerk of Court. THIS IS NOT AN ANSWER TO THE COMPLAINT EXHIBIT "c" DEFENDANT/BORROWER'S FORECLOSURE QUESTIONAIRRE 8645 FINANCIAL STATEMENT -~-- , BOJi~O\VER INFORl\IATION' , Account # Reason for Delinquency Have you contacted a Consumer Credit Counseling Agency? Jf"Yes" Agency Name and Contact Number: Borrower Nathe: Co-Borrower Name: Mortgaged Prop. Address: Mailing Address: Home Phone: Other Phone: ,~' __. . ." ,. I!I}IYJ~O:\:J~:U:~T 1ISJTnn..1\1l~f(i'Q~ ,.:' ~_ ..' "" ,'- ,;::,:~ ,>}&~ BORROWER CO-BORROWER Employer: Emp. Address: Employer: Emp. Address: Emp. Phone: Job Position: Emp. Phone: Job Position: ~ - " .~ ',C ~~ '"., ~=~. >"'u ~~u ~rsJ(n.J!J]ill'..c:~ J~Jf,t)U1):i.4'ttQlX "-"-"'--"a: : --" ' ! ::-=~,,_-_ .- : _"'-'0'': =ri,''; Chapter Type: Filing Date: Case #: Attorney Name: Phone #: Active: Yes: No: ".:,.- -;. -,.... q . ~ , ~ -, ;-"'\~c'i,\;S'SE-I'STW;~;mmtTES~'-.-.' ',',~':- ;>, ';-",' " ':.'-.:-';;;, "'i-';~ I~.._ ____....-.. ____ _~...;;........;C,_~~. ~~_..'L'!_L.' _~_"""~__.___ _ t L ~_~~_'"'__~~_~__ "'~ ~_ _~.1.....,:,.,. ...!...-'_. :..-.....:.__~-::.~____~o:::.~~....:t,...~ DESCRIPTION ESTIMATED AMOUNT NET VALUE OWED VALUE Primary Residence $ $ :!; Address: Number of dependents Jiving on the property I Number of persons living on the property I Is tbe property listed for sale? If Yes please list Agent name and contact phone number: Listing Price 1.$ Other Real Propeliy Address: Number of Automobiles Owned Automobile EXHIBIT "D" WPB 99(1;3~.1 00Q9999li0600 1 DL - 10-38645 Make/Model: Automobile $ $ $ Make/Model: ? Bank Accounts --Checking: Banl< Accounts - Savings: lRAlKEOGH Accounts: $ $ $ 40lK Savings Plan: Stocks I Bonds I CDs: Boats $ $ $ Cash Value ofUfe Insurance: Face Value of Life Insurance Collections / Art I Coins, Eic: $ $ $ Computers: Other: Other: Other: Other: INCOME DATA DESCRlPTION INCOME TOTAL Gross Salary ( Wages: $ $ $ Overtime Pay: Commissions: Bonuses: $ $ $ Alimonv / Child SUDDort: Rental Property: Interest I Dividends: Savings Accounts: $ $ $ Life Insurance: StockslBonds: "Less" Taxes: Federal Income Tax: $ $ $ FICA: State lncome Tax: Other: $ $ $ Other Deductions (Specify): Other Income (Soecifv): Otber Income(Specify): NET INCOME: $ $ $ DESCRJPTION MONTHLY BALANCE MONTHS PYMT$ DUE DELINQ. Mortgage and Land Contract: $ $ Other Mortgage(s) \\'PI3 990736.1 0009999&.0600 I L_ 10-38645 Child Care Alimony / Child Support $ $ Automobile Loan: Automobile Loan: Finance Company: $ $ Installment: Other Loan (Specify): Visa: $ $ $ MasterCard: Other Credit Card (Specify): ._- Other Credit Card (Specify): I ---- Cooperative (COOP) Fees: Garnishment/Levv: Hazard Insurance (rental & residence): HOA. Special Assessment: HOA / Condo Maintenance: IRS Tax Payment School Tuition: Taxes: Utilities (rental & residence): Automobile Insurance: Health Insurance: Life Insurance: Church: Club or Union Dues: DoctorlDentist: Pharmaceutical Drugs: Hospital: Gasoline (Auto): Auto Maintenance: Monthly Parking: Food'/ Groceries (Family): School or Work Lunches Purchased: New Clothes/Shoes: I Dry Cleaning: Spending Money: Cable TV: Clubs, Sports & Hobbies: Entertainment (Movies, Dinner, Etc.): Vacations: Other (Please Specify): Otber (please Specify): Other (Please Specify): Other (Please Specify): WPB 990736.1 00099995.06001 DL - 10-38645 TOTAL: 1$ 1$ I Other (Please Specify): 1$ ,_ J}JJTHPRIZATIONAND.1\CKNOWUmGE\VIENT. . :,-.".:;"-} J obtained a Mortgage Loan secured by the above referenced mortgaged property. I certify that all infonnation presented herein as well as attachments are true, accurate and correct to the best of my knowledge. I understand that submission of this infomlation in no way obligates my mortgage servicer, owner of my mortgage or insurer to provide assistance to me. By signing this Financial Statement, I hereby authorize my mortgage servicer and/or mortgage insurer to: 1) order a credit report from any credit reporting agency; 2) verify, when deemed necessary, any current or previous employment, bank accounts. tax returns, or assets; 3) contact my real estate agent and/or credit counseling service representative (if applicable); 4) release any and all infomlation concerning the above. I agree that the financial infonnation provided herein is incorrect and such errors have induced actions by the mortgage seJ>licer, owner of my mortgage or mortgage insurer that would not have been taken, had the true facts been known, I shall be liable for any or all losses or damages to those persons. YOU SHOULD CONSIDER THIS LETTER AS COMING FROM A DEBT COLLECTOR AS WE SOMETIMES ACT AS A DEBT COLLECTOR. ANY INFORMATION PROVIDED BY YOU WILL BE USED TO COLLECT THIS DEBT. HOWEVER, IF YOU ARE IN BANKRUPTCY OR RECEIVED A BANKRUPTCY DISCHARGE OF THIS DEBT, THIS LETTER IS NOT AN ATTEMPT TO COLLECT THE DEBT, BUT NOTICE OF POSSIBLE . ENFORCEMENT OF OUR LIEN AGAJNST THE COLLATERAL PROPERTY. . PLEASE SIGN BELOW Borrower Date Co- borr9wer Date WPB 990736.1 0009999B.0600 I _L-IO-38645 IN THE CIRCUIT COURT OF THE FIFTEENTH JUDlCIALCIRCUJT IN AND FOR PALM BEACH COUNTY, FLORIDA CIVIL ACTION HSBC MORTGAGE CORPORA nON USA, Plaintiff, CASE NO.: DIVISION: vs. SHONAE TROTMAN, et ai, Defendant(s). DEFENDANT S NOTICE OF COMPLIANCE WJTIf ADMINISTRATIVE ORDER NO. 3.305 PLEASE TAKE NOTICE that the below named Defendant has complied with Administrative Order 3.305-JO/08 by forwarding the Defendant s Foreclosure Questionnaire to Counsel ofrecord for the PJaintiffthis _ day of ,2008. I HEREBY CERTlFY that a true and correct copy of this Notice of Compliance was sent to Plaintiff s Counsel this. _ day of ,2008. By: Borrower s Signature Print Name Address FILE THIS DOCUMENT WITH THE CLERK S OFFICE NO DOCUMENTS ARE TO BE ATTACHED TO THIS NOTICE MAIL A COPY TO THE PLAINTIFF SA TTORNEY RETAIN A COpy FOR YOUR RECORDS EXHIBIT E NOTICE OF COMPLIANCE DL - 10-38645 IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIDA CIVIL ACTION HSBC MORTGAGE CORPORATION USA, Plaintiff, ;0 2010 Cft 0 0 83 1 6 XXXX 1t1 \'s. CASE NO. DIVISION SPACE FOR RECORDII'G OI'LY F.S.Sb9S.26 SHONAE TROTMAN ; THE UNKNOWN SPOUSE OF SHONAE TROTMAN ; BOYNTON BEACH COMMUNITY REDEVELOPMENT AGENCY, A FLORIDA PlJBLlC BODY CORPORATE AND POLITIC CREATED PURSUANT TO SECTION 163.356 F.S.; THE PRESERVE AT BOYNTON BEACH COpy 14 CONDOMINIUM ASSOCIATION, INC.; ANY AND ALL UNKNOWN PARTIES CLAIMING BY, THROUGH, UNDER, AND AGAINST THE HEREIN NAMED INDIVIDUAL DEFENDANT(~~vt:D FOR FI LI ~ NOT KNOWN TO BE DEAD OR ALIVE, WHETHER SAID UNKNOWN PARTIES MA y.?:t'A'i~ A~ INTEREST AS SPOUSES, HEIRS, DEVISEES, GRANTEES, OR OTHER CLAIMANTS; TENANT MAR 1 8 2010 TENANT #2, TENANT #3, and TENANT #4 th(' names being fictitious to account for parties in possession SHARON R. BOCK CLERK & COMPTROLLER CIRCUIT CIVIL DIVISION ,4W Defcndant(s). NOTICE OF LIS PENDENS To the ahove-named Defendant(s) and all others whom it may concern. You are notified of the instil1.J1ion of this action by the above-named Plaintiff, against you seeking to foreclose a mOJ1gage on the following propeJ1y in Palm Beach County, Florida: UNIT 1405, OF THE PRESERVE AT BOYNTON BEACH 14, A CONDOMINIUM, ACCORDING TO THE DECLARA TlON OF CONDOMINIUM THEREOF, AS RECORDED IN OFFICIAL RECORDS BOOK 21331, PACE 805, OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA, AS AMENDED AND/OR SUPPLEMENTED, FROM TIME TO TIME; TOGETHER WITH AN UNDIVIDED INTEREST IN THE COMMON ELEMENTS APPURTENANT THERETO A/KJA 1826 NORTHEAST 5TH STREET, #1405, BOYNTON BEACH, FL 33435 Dated this WayofMarch, 2010. AlbeI1elli Law P.O. Box 23028 Tampa, Florida 33623 (813) 221-4743 .~ BY:~ DAVID J. ILLER, ESQ. FLORIDA BAR NO. 69995 I)L - IO.lRM.'> Mai Vu, ESQ. Florida Bar #71030 IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIIW CIVIL ACTION SBC MORTGAGE CORPORATION USA, Plaintiff, CASE NO.: 50 2010 C_O 83 1 6 XXXX MB DIVISION: IS. HONAE TROTMAN ; THE UNKNOWN SPOUSE OF SHONAE TROTMAN ; ~TON BEACH :OMMUNITY REDEVELOPMENT AGENCY, A FLORIDA PUBLIC BODY <YORA TE AND ?OLlTIC CREATED PURSUANT TO SECTION 163.356 F.S.;THE PRESERVE AT.NTON BEACH 14 CONDOMINIUM ASSOCIATION, INC.; ANY AND ALL UNKNOWN PARTIElLAIMING BY, THROUGH, UNDER, AND AGAINST THE HEREIN NAMED INDIVIDUAL DEFEN_(S) WHO ARE NOT KNOWN TO BE DEAD OR ALIVE, WHETHER SAID UNKNOWN PARTlEaY CLAIM AN INTEREST AS SPOUSES, HEIRS, DEVISEES, GRANTEES, OR OTHER CLAIM'-; TENANT #1, TENANT #2, TENANT #3, and TENANT #4 the names being fictitious to account for fllIi*iin posseset> py IC!\VED FOR F' Ll NG MAR 1 8 2010 ~. IHi .I: ..~~ '" Defendant(s). MORTGAGE FORECLOSURE COMPLAINT St:tARON R. BOCK Plaintiff, HSBC Mortgage Corporation USA, sues Defendants, Shonae Trotman; T!!IiI:m~~PTROLLER . . . ""D"'IJIT.~lVIL DIVISION C'l)onae Trotman; Boynton Beach Commumty Redevelopment Agency, a Flonda public bodfi''PO~''pol'l'n~ :ated pursuant to section J 63.356 F.S.; The Preserve at Boynton Beach 14 Condominium ~.liation, Inc.; Any and All Unknown Parties Claiming By, Through, Under, and Against the Herein Named M1I!i1aJ Defendant(s) Who Are Not Known to be Dead or Alive, Whether Said Unknown Parties May Claim an lntmat.Spouses, Heirs, Devisees, Grantees, or Other Claimants; Tenant # I, Tenant #2, Tenant #3, and TenaJ#f'tf1e names being fictitious to account for parties in possession, and alleges: COUNT I - MORTGAGE FORECLOSURE I . This is an in rem action to foreclose a mortgage on real property(hereinaft;:-~lerty') located and situated in Palm Beach County, Florida. 2. On September 4, 2008, there was executed and delivered a Promissory Ntr'1'Vlortgage Note") and a Mortgage ("Mortgage") securing the payment of the Mortgage Note. The Mo.....was recorded on September 30, 2008, in Official Records Book 22883 at Page ] 95 of the Public Records tbn Beach County, Florida, (All subsequent recording references are to the public records of Palm BeaciIllmty, Florida) and mortgaged the real and personal property ("Property") described therein, then owned by m possession of the Mortgagor(s). Copies of the original Mortgage Note and Mortgage are attached hereto and ilforatcd herein as an Exhibit. 3. Plaintiff is entitled to enforce the Promissory Note and Mortgage. 4. The Property is now owned of record by Defendant(s), Shonae Trotman. 5. The Mortgage Note and Mortgage are in default. The required installment payment of October I, 2009, was not paid, and no subsequent payments have been made. The Mortgage is contractually due for the October I, 2009 payment. The last payment received was applied to the September I, 2009 installment, and no subsequent payments have been applied to the loan. 6. Plaintiff declares the full amount payable under the Mortgage Note and Mortgage to be now due. 7. Plaintiff must be paid $172,843.92 in principal on the Mortgage Note and Mortgage, together with interest from September J, 2009, late charges, and all costs of collection including title search expenses for ascertaining necessary parties to this action and reasonable attorney's fees. 8. All conditions precedent to the acceleration of the Mortgage Note and foreclosure of the Mortgage have been performed or have occurred. 9. Plaintiff has retained the law firm of Albertelli Law in this action and is obligated to pay it a reasonable fee for its services in bringing this action as well as all costs of collection. 10. The interests of each Defendant are subject, subordinate, and inferior to the right, title, interest, and lien of Plaintiffs Mortgage with the exception of any special assessments that are superior pursuant to Florida Statutes 159, and/or 170.9. ] I. Shonae Trotman may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of Warranty Deed recorded in Official Records Book 22883, Page 193, of the PubJjc Records of Palm Beach County, Florida, or may otherwise claim an interest in the Property. ] 2. Boynton Beach Community Redevelopment Agency, a Florida public body corporate and politic created pursuant to section 163.356 F.S. may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of a Mortgage recorded in Official Records Book 22883, Page 214, of the Public Records of Palm Beach County, Florida, or may otherwise claim an interest in the Property. 13. The Preserve at Boynton Beach 14 Condominium Association, Inc. may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of any unpaid condominium assessments levied pursuant to the Declaration of Condominium and any interest acquired pursuant to Chapter 718 F.S, or may otherwise claim an interest in the Property. 14. The Unknown Spouse of Shonae Trotman may have or claim an interest in the Property that is the subject of this Foreclosure action by virtue of homestead rights, possession, or any right of redemption, or may otherwise claim an interest in the Property. ] 5. Tenant #], Tenant #2, Tenant #3 and Tenant #4, the names being fictitious to account for parties in possession may claim some interest in [he Property that is the subject of this foreclosure action by virtue of an unrecorded lease or purchase option, by 'virtue of possession, or may otherwise claim an interest in the Property. The names of these Defendants are unknown to the Plaintiff. WHEREFORE, Plaintiff requests that the Court ascertain the amount due Plaintiff for principal and interest on the Mortgage Note and Mortgage and for late charges, abstracting, taxes, expenses and costs, including attorney's fees, plus interest thereon; that if the sums due Plaintiff under the Mortgage Note and Mortgage are not paid immediately, the Court foreclose the Mortgage and the Clerk of the Court sell the Property securing the indebtedness to satisfy Plaintiffs mortgage lien in accordance with the provisions of Section 45.031, Florida Statutes (1999); that the rights, title and interest of any Defendant, or any party claiming by, through, under or against any Defendant named herein or hereafter made a Defendant be forever barred and foreclosed; that the Court appoint a receiver of the Property and of the rents, issues, income and profits thereof, or in the alternative, order sequestration of rents, issues, income and profits pursuant to Section 697.07, Florida Statutes (1995); and that the Court retain jurisdiction of this action to make any and all further orders and judgments as may be necessary and proper, including the issuance of a writ of possession and the entry of a deficiency decree, when and if such deficiency decree shall appear proper, ifborrower(s) has not been discharged in bankruptcy. COUNT lIRE-ESTABLISHMENT OF NOTE 16. This IS an action to re-establish a lost Mortgage Note pursuant to Section 673.3091, Florida Statutes. 17. Defendant(s) herein above-named, is/are affected by this action. 18. On September 4, 2008, there was executed and delivered a Promissory Note ('Mortgage Note') to Mortgage Electronic Registration Systems, Inc. as nominee for HSBC Mortgage Corporation (USA). (See attached, a copy of the substantial terms of the note.) 19. The tems of the Note are as follows: a. Original loan amount: $ ]75,000.00 b. Amount of monthly principal and interest payment: $ 993.64 c. Interest rate: 5.500% d. Loan beginning date: September 4,2008 e. Loan maturity date: October 1,2038 20. Plaintiff owns the Mortgage Note and is entitled to enforce said Mortgage Note. 21. At some time between September 4, 2008, and the present, the Mortgage Note has either been lost or destroyed and the PJaintiffis unable to sr.ate the manner in which this occurred. The Mortgage Note is not now in the custody and control of the Plaintiff. 22. The Plaintiff and the Defendants named herein are the only persons known to Plaintiff to have an interest for or against the re-establishment of the Mortgage Note. 23. Plaintiff was in possession of the Mortgage Note and entitled to enforce it when loss of possession occurred or Plaintiff has been assigned the right to enforce the Mortgage Note. IN THE CIRCUIT COURT OF THE FIFTEENTH JUDICIAL CIRCUIT IN AND FOR PALM BEACH COUNTY, FLORIDA CIVIL ACTION HSHC MORTGAGE CORPORATION USA, Plaintiff, VS. CASE NO.: DIVISION: SHONAE TROTMAN, et ai, Defendant(s). FLA. R. CIV. P. 1.110(b) AFFIRMATION I have read the foregoing Complaint and affirnl that to the best of my knowledge and belief the follow facts are true and correct: (i) Plaintiff is entitled to enforce the note and mortgage; (ii) the attached loan documents are true and accurate; (iii) the allegations regarding default are true and accurate; (iv) any notice(s) required pursuant to the terms of the note and mortgage has/have been sent; and, (v) Plaintiff has retained Albertelli Law in this action and is obligated to pay its reasonable attorneys fees and costs for services rendered herein. Under penalty of perjury, ] declare that I have read the foregoing, and the facts alleged therein are true and correct to the best of my knowledge and belief. By J1;~,,-,:---, UJ~ Name: ----tk'-lfA n-rJ.-.,) U <1 rl/!)e..-I Title: LJ f HSBC Mortgage Services Pt.EASE RETURN TO: TRAH8-8T AT! TlJL.E INS. AGeNCY 18205 B&&cAYWE'800LEVARD, 12201 AVENlU~~lurm~ II~muoo~rnurnm~mOO~llmIHII This document was prepared by: CFN 2u080359705 OR BK 22883 PG 0195 RECORDED 09/30/2008 14:18:53 Palm Beach County, Florida AftT 175,000.00 Deed Doc 612.50 Intang 350.00 Sharon R. Bock,CLERK & COHPTROLLER Pgs 0195 - 213. (19pgs) HSBC MORTGAGE CORPORATION (USA) 2929 W~EN AVENUE, DEPEW, NY 14043 DONAVALLI, RAJI (Space Above This Line For Recording Datal MORTGAGE MIN 100022404797724362 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 1), ) 3, 18, 20 and 2). Cenain rules regarding the usage of words used in this document are also provided in Section) 6. (A) "Security Instrument" means this document, which is dated September 04, 2008 together with all Riders 10 Ihis document. (E) "Borrower" is SHONAE TROTMAN, a single woman Borrower is the mongagor under this SecurilY Instrumenl. (C) "MERS" is Mortgage Electronic Registration Systems, Inc, MERS is a separate corporation that is acting solely as a norrlinee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, M148501.2026, tel. (888) 679-MERS. (D) "Lender" is HSBC Mortgage Corporation (USA) FL 3115 0479772436 FLORIDA.Single Family-Fannie Mae/F,eddie Mac UNIFORM INSTRUMENT WITH MERS ~ .6AIFlI,00051 03 @ Page 1 ot 16 Form 3010 1/01 IniTi"5:C~ 1 " VMP Mortgage SolUTions. Inc Book22883/Page195 Page 1 of 19 Lender is a Delaware Corporation organized and existing under the laws of DELAWARE Lender's address is 2929 WALDEN AVENUE, DEPEW, NY 14043-2602 (E) "Note" means the promissory note signed by Borrower and dared September 04, 2008 The Note stares thaI Borrower owes Lender ONE HUNDRED SEVENTY FIVE THOUSAND and NO/IOO Dollars (U .S. $ 175,000.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than October 01, 2038 (F) "Property" means the property that is described below under the heading "Transfer of Rights in the Propeny. . (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security InstruIl)ent, plus interest. (H) "Riders" means all Riders to this Security Instrument that an.i executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: D Adjustable Rate Rider D Balloon Rider o VA Rider [i] Condominium Rider 0 Second Home Rider. D Planned Unit Development Rider 0 1-4 Family Rider D Biweekly Payment Rider 0 Orher(s) [specify] (I) "Applicable Law" means all controlling applicable federal, Slale and local slatutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association. homeowners association or similar organizalion. (K) "Electronic .Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, bUI is nol limited 10, point-of-sale transfers, automated teller machine transaclions, Iransfers initiated by telephone. wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement. award of damages. or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Seclion 5) for: (i) damage 10, or deslruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment" means lhe regularly scheduled amount due for (i) principal and interest under the Note. plus (ii) any amounts under Section 3 of this Security Instrument. FL 3115 Iniljals: S..7 0479772436 S-6AIFL) '00051.03 @ Page 2 at 16 Form 3010 1/01 Book22883/Page196 Page 2 of 19 " (P) "RESPA" means the Real Estate Selllement Procedures Act (12 U.S.c. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs thl; same subject maller. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of BOlTower" means any party thaI has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and aJJ renewals, extensions and modifications of the Note; and (ii) the perfonnance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, the following described property located in the COUNTY [Type of Recording Jurisdiction] of PAlM BEACH (Name of Recording Jurisdiction]: SEE DEED CONDOMINIUM UNIT NO. 1405, THE PRESERVE AT BOYNTON BEACH 14, A CONDOMINIUM, ACCORDING TO THE DECLARATION OF CONDOMINIUM THEREOF, AS RECORDED IN OFFICIAL RECORDS BOOK 21331, PAGE 80S, OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA; TOGETHER WITH AN UNDIVIDED SHARE IN THE COMMON ELEMENTS APPURTENANT THERETO. Parcel ID Number: 08-43-45-15-27-000-1405 1826 NORTH EAST 5TH STREET, Unit 1405 BOYNTON BEACH ("Property Address"): which currently has the address of IStreet] [Ciry] , Florida 33435 (Zip Code I TOGETHER WITH all the improvcmems now or hereafter erected on the property. and all easements, appurtenances, .and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Securitl' Instrument as the "Property.:' BO!Tower ~nderstands and agrees that MERS holds only legal title 10 the Interests granted by Borrower In thIS SecunlY Instrument, but, if necessary 10 comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the righl: to exercise any or all of Iho~e intere~ls. including, but not limited to, the right to foreclose and sell the Property; and to take any actIon requJTed of Lender including, but not limited to, releasing and canceling this Security Instrument. FL 3115 Initials: ~.-r 0479772436 . -GAIFl) 10005).03 @ Page 3 01 16 Form 3010 1/01 Book22883/Page197 Page 3 of 19 " BORROWER COVENANTS thal. Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Propeny against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unifonn covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Seclion 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an inslitution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) EJeclTonic Funds Transfer. Paymenls are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if Ihe payment or partial payments are insufficient to bring lhe Loan current. Lender may accept any payment or panial payment insufficient to bring the Loan current. without waiver of any rights hereunder or prejudice 10 its rights to refuse such payment or panial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, .hen Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time. Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements .secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepled and applied by Lender shall be applied in the following order of priority: (a) interest due under the NOle; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied. first to late charges, second to any other amounts due under this Security Instrument, and then to reduce th(: principal balance of the Note. If Lender receives a payment from Borrower for a delinquenl Periodic Payment which includes a sufficient amount to pay any lale charge due, (he payment may be applied to the delinquent payment and the lale charge. If more than one Periodic Payment is outstanding. Lender may apply any payment received from Borrower 10 the repayment of the Periodic Payments if, and to the extenl that, each payment FL 3115 InitiaIS:J'l../ 0479772436 . -6A(Fl) 10005103 @ Page 4 of 16 Form 3010 1/01 Book22883/Page198 Page 4 of 19 can be paid in ful!. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds 10 principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property. if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the prov~sions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues. Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under Ihis Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrowcr shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items direclly, pursuant to a waiver, and Bon;ower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time. collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not 10 exceed Ihe maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or veri tying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest FL 3115 '''i'i'''':;;'/ 0479772436 o .6A(FlI,0005J03 @ Page 5 01 i6 Form 3010 1/01 Book22883/Page199 Page 5 of 19 shall be paid on the Funds. Lender shall give 10 Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESPA. Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 mOnlhly paymenfs. If there.is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no mo.re than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines, and impositions attributable to. the Propeny which can altain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is perfoming such agreement; (b) contests the lien in good faith by. or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien 10 this Security Instrument. If Lender determines that any part of the Propeny is subject to a lien which can altain priority over this Security Instrument, Lender may give Borrower a notice identifying the Ijen. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in Ihis Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reponing service used by Lender in cormection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the lerm "extended coverage," and any other hazards including, but not limited to. earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods lhal Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shaH not be exercised unreasonably. Lender may require Borrower to pay, in cormeclion with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for Oood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fecs imposed by the Federal Emergency Management Agency in cormection with the review of any flood zone determination resulting from an objection by Borrower. FL 3115 ... ~.7 inl1lcIS:_._ 0479772436 Q -GAIFl} 100051.03 <!I Page 6 01 16 Form 3010 1/01 Book22883/Page200 Page 6 of 19 If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Bo~ower' s expense. Lender' is under no obligation to purchase any particular type or amount ~f coverage. Therefore, such coverage shall cover Lender. but might or might not protecl Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disburseq by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee andlor as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage 10, or destruction of, thePropeny. such policy shall include a standard mortgage clause and shall name Lender as mortgagee andlor as an addilionalloss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paId on such insurance proceeds. Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the, sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property. Lender may file, negotiale and settle any available insurance claim and related matters. If Borrower does not respond wilhin 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle lhe claim. The 3D-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or (his Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Propeny, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or ntstore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. FL 3115 ~_-r Initials: , --- 0479772436 . -6AIFL) 10005)03 @ Page 7 0' , 6 Forro 3010 1101 Book22883/Page201 Page 7 of 19 6. Occupancy. Borrower shall occupY. establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy. unless Lender otherwise agrees in writing. which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; lnspections. Borrower shall not des'troy, damage or impair the Property. allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in cOJIDection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single paymenl or in a series of progress payments as the work is completed. ]f the insurance or condenmation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are nOI limited to. representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. JProtection of Lender's lnterest in the JProperty and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condenmation or forfeiture.. for enforcement of a lien which may attain priority over this Security Instrument or to enforce Jaws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable altorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions. and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any dUlY or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized undlir this Section 9. FL 3115 Inilials: $-1 0479772436 Form 3010 1/01 . -6AfFllIOOOSJ03 @ Page 8 0' , 6 Book22883/Page202 Page 8 of 19 Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee tjtle to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. ]0. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance. Borrower. shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent 10 the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lendcr the amount of the separately designated payments that were due when the insurance coverage ceased 10 be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mongage Insurance coverage (in the amount and for the period that Lender requires) provided by an jnsurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any wrillen agreement between Borrower and Lender providing for such tennination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgagc Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreemcnts are on terms and conditions that are 'satisfaclory to the mortgage insurer and the other party (or parties) 10 - these agreements. These agreements may require the mongage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreemenlS, Lender, any- purchaser of the Note. another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender lakes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance.. Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle 1B0rJ"Ower to any refund. FL 3115 InilialS:~' T 0479772436 G -6AIFlIloOO5l 03 @ Page 9 01 1 6 Form 3010 1101 Book22883/Page203 Page 9 of 19 (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage lnsurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cance/Jation of the Mortgage Insurance, to have the Mortgage lnsurance terminated automatically, and/or to receive a refund of any Mortgage lnsurance premiums that were unearned at the time of such cancellation or termination. . 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Propeny, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress paymems as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest t6 be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums sccurcd by this Security Insrrument, whether or nOI then duc. with the excess, if any. paid to Borrower. Such M iscelJaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction. or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a panial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal 10 or grealer than the amounl of the sums secured by this Security Instrument immediately before the partial taking, destruction. or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the (otal amount of Ihe sums secured immediately before the partial taking, destruction, or Joss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In lhe event of a partial taking. destruction, or loss in value of the Property in whIch the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less lhan the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous PrQceeds shall be applied to the sums secured by lhis Security Instrument whether or nol the sums are then dUe. . If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to sellle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collecl and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party. means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and. if acceleration has occurred, reinstale as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment. precludes forfeiture of the Property or other material impainnenl of Lender's interest in the Property or rights under this Security Instrument. The proceeds of FL 3115 ,nil'a,,,eS .T' 0479772436 ~ -GAIFl) 100051.03 @ Page 10 of '6 Form 3010 1/01 Book22883/Page204 Page10of19 any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds thai are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any ri~ht or remedy including, without limitation, Lender's acceptance of payments from third persons, entitles or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject 10 the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approvcd by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum toan charges, arid that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permined limits, then: (a) any such loan charge shall be rcduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permilled limits will be refunded to Borrower. Lender may choose 10 make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. I f a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower wi)) constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given 10 Borrower when mailed by first class mail or when actually delivered to Borrower's notice address jf sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers FL 3115 Irlllials: ~.1 0479772436 S .6A(FlI WQ05t.03 @ Page " of 16 Form 3010 1/01 Book22883/Page205 Page 11 of 19 . unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection wjth this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and Jimitations of Applicable Law, Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent. bUI such silence shall not be construed as a prohibition against agreement by contract. In the evenl that any provision or clause of this Security Instrument or the Note conOicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial )ntercst in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to. those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of titJe by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lendcr cxercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not Jess than '30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior 10 the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any defaull of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited 10, reasonable attorneys' fces, property inspection and valuation fees, and other fees incurred for the FL 3115 Iliilii:tISS'T_ 0479772436 S .6AIH} 100051.03 @ Page 11 0116 Form 3010 1/01 Book22883/Page206 Page12of19 purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and td) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement .by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. . 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the l...()an Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and ..thereafter the Loan is serviced by a Loan Servicer other than the purcha~er of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a'reasonable period after the giving of such' notice to lake corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to. Section 22 and the notice of acceleration given to Borrower pursuant 10 Section 18 shall be deemed to satisfy the notice and opportUnilY to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flanunable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law' means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. FL 3115 'n.,i.'" Q~I 0479772436 cD -6AtFl) 10005103 @ Page 13 at 16 Form 3010 1/01 Book22883/Page207 Page 13 of 19 Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Propeny. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of (a) any irivestigation, claim, demand, lawsuit or other action by any governrnental or regulatory agency or private party involving the Property and any. Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited 10, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any govemmenial or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security lnstrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default mllst be cured; and (d) that failure to cure the default on or before the date specified in the notice mal' result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. Jf the default is not cured on or before the date specified in the notice, Lender at il.s option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and cosl.s of title evidence. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Attorne)'s' Fees. As used in this Security Instrument and the Note, attorneys' fees shall include those awarded by an appellale coun and any attorneys' fees incurred in a bankruptcy proceeding. 25. Jury Trial Waiver. The Borrower hereby waives any right to a trial by jury in any action, proceeding, claim, or counterclaim, whether in contract or tort, at law or in equity, arising out of or in any way related 10 this Security Instrument or the Note. FL 3115 Iniliats:S.1 0479772436 G -6AIFU 100051.03 ~ Page14ot16 Form 3010 1/01 Book22883/Page208 Page14of19 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Signed, sealed and delivered in the presence of: FL 3115 o -6AfFl) 10005' 03 i!) Book22883/Page209 (Seal) -Borrower (Address) __ _ (Seal) .Borrower (A~tlress) (Seal) .Borrower (Address) S!!.:-!:}J>>- . (Seal) . Borrower 1826 NORTH EAST 5TH STREET, Uni t 1405 I BOYNTON BEACH , FL (Address) (Seal) . Borrower (Address) (Seal) . Borrower (Address) (Seal) . Borrower (Address) (Seal) .Borrower (Address) 0479772436 Page 1 5 01 16 Form 3010 1'01 s. -r Page 15 of 19 STATE OF lFLORJDA, MIAMI-DADE County ss: The foregoing instrument was acknowledged before me this 4TH day of September, 2008 by SHONAE TROTMAN who is personally known to me or who has produced -fl,~ ~W.vu I---\I:...L-\A~ N~~OLtM~ , as identification. ,-#j~. JOYCE OLENICK ~r~"f.~ MY COMMISSION # 00802735 ~ EXPIRES July 02,2012 401i39~'53 F' Servlce.com Initials: g'T 0479772436 FL 3115 _ .6AIFllI00051.03 <!) Page 16 01 16 Form 3010 1'01 Book22883/Page210 Page 16of19 CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made this 4th day of September, 2008 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the. same date given by the undersigned (the "Borrower") to secure Borrower's Note to HSBC Mortgage Corporation (USA) (the "lender") of the same date and covering the Property described in the Security Instrument and located at: 1826 NORTH EAST 5TH STREET, Unit 1405, BOYNTON BEACH, FL 33435 {Property Address] . The Property includes a unit in, together with an undivided interest in the common elements of, a condominium project known as: THE PRESERVE AT BOYNTON BEACH 14 CONDOMINIUM (Name of Condominium Project] (the "Condominium Project"). If the owners association or other entity:which acts for the Condominium Project (the "Owners Association") holds title to property for the benefit or use of its members or shareholders, the Property also includes Borrower's interest in the Owners Association and the uses, proceeds and benefits of Borrower's interest. CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and lender further covenant and agree as follows: A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i) Declaration or any other document which creates the Condominium Project; (ii) by-laws; liii} code of regulations; and (iv) other equivalent documents. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. Property Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket'" 'policy on the Condominium Project which ;s satisfactory to lender and which provides insurance"coverage in the 'amounts (including deductible levels), for the periods, and against loss by fire, hazards included within the term "extended coverage," and any other hazards, including, but not limited to. earthquakes and floods. from which lender requires insurance, then: Ii} lender waives the provision in CD 2061 0479772436 MUL TIST A TE CONDOMINIUM RIDER - Single Family . Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3140 1/01 Wolters Kluwer Financial Services VMP @.8R (0411 }.01 Page 1 of 3 Initials: ~.-r ---- Book22883/Page211 Page 17 of 1 9 Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be paid to lender lor application to the sums secured by the Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Public li~bility Insurance. Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection with any condemnation or other taking of all or any part of the Property, whether of the unit or of the common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to lender. Such proceeds shall be applied by Lender to the sums secured by the Security Instrument as provided in Section 11. E. lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the Condominium Project, except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (ii) any amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender; (iii) termination of professional management and assumption of self. management of the Owners Association; or (iv) any action which would have the effect of rendering the public liability insurance coverage maintained by the Owners Association unacceptable to lender. F. Remedies. If Borrower does not pay condominium dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the dale of disbursement at the Note rale and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. CD 2061 0479772436 VMP @.8R (0411 ).01 Initials: s;. - -r Page 2 of 3 Form 3140 1/01 Book22883/Page212 Page 18 of 19 BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Condominium Rider. ~~a.O------"'(Seal} SHONAE TROTMAN -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower _(Seal) -Borrower (Seal) -Borrower (Seal) -Borrower (Seal) -Borrower CD 2061 0479772436 VMP ~.8R. (0411).01 Page 3 of 3 Form 3140 1/01 ~.-r Book22883/Page213 Page19of19 Pa~ie 1 of 3) CD NOTE September 04, 2008 IDml ADVENTURJI. ICilyl .: FLORIDA IS",,,) 1826 NORTH EAST 5TH STREET, Unit 1405, BOYNTON BEACH, FL 33435 [Properly ^ddress] l. !BORROWER'S PROfo>1JSE TO PAY In return for a loan thaI I have received, I promise 10 pay U.S. $ 175,000.00 (this amounl is called "Principal"), plus interest, 10 the order of the Lemler. The Lender is HSBC Mortgage Corpora tion (USA) J will make all payments under this Note in Ihe form of cash, check or money order. .I understand thaI Ihe Lender may transfer this Note. The Lender or anyone who lakes this Note by transfer and who is cmilled 10 r~eive payments under this NOle is C<lllcd the "Note Holder.. 2. INTI~REST Interest will be charged on unpaid principal until Ihe full amount of Principal has been paid. I will pay interest :II a yearly rale of 5.5000 %. The interesl wle required by this Section 2 is the rate I will pay bOlh beforc and after aIlY default described in Section 6(B) of Ihis Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and intercsl by making a payment every month. I will make my monthly payment on the 1st day of e:Jch monlh beginning on November 01 " 2009 . I will make these paymenls every month until) have paid all of Ihe principal and interest and any other charges described below that I may owc under this NOle. Each monthly payment will be applied as of its scheduled due date and will be npplied to interest before Principal. If, on October 01, 2038 , I still owe amounls under lhis Note, I will pay those amounts in full on thai date, whieh is called Ihe "MaturilY Date." I will make my monthly payments at 2929 WALDEN AVENUE, DEPEW, NY 14043 or at a different place if required by the NOle Hollier. (8) Amount of Monthly P3)'ments My monthly paymenl will be in rhe amount of U.S. $ 993.64 4. BORROWER'S RIGIIT TO PREPAY I have the right to make payments of Principal al any lime before they are due. A paymem of Principal only is known as a .Prepaymcnl." When I make a Prepaymenl, I will tell the Note Holder in wriling that I am doing so. I may not designate a payment as a Prepayment if) have not made alllhe monlhly payments due under the Note. I may make a full Prepayment or panial Prepayments withoul paying a Prepayment charge. The Note Holder will use my Prepayments 10 reduce the amount of Principal that I owe under this NOlc. However, the NOte Holder may apply my Prepayment 10 (he accrued and unpaid interesl on the Prepayment amounl, before applying my Prepayment 10 reduce the Principal amount of the NOle. If I make a panial Prepayment, there will be no changes in lhe due dale or in the amount or my monthly payment unless the Note Holder agrees in wriling 10 those changes. rL )110 IlOR'D.A fl)l(O RAlf NOH . SH'~I~ FamJ" . r aN'lle Mlt'JF,f'dd,. Mac UNIr ORM INS1~UMOtl \JM' (5- Wol1!'rl J.~INCI Jinllr"lClal St',,,,.c.es 0479112436 fOf," J"'O '-0' VMP5Ntrt 1108031 P"Oe I 0' 3 ''''''.''' cSJ 1 :Pa,::";e 2 of 3) 5. LOAN CHARGES If a law, which applies 10 rhis Joan and which selS maximum loan ch:uges, is finally inlcrpreled so thai the inlerest or olhcr loan charges collccted or to be collccted in conncction with this loan exceed the permilled limits, Ihen: (3) any such loan charge shall be reduced by the amOUnl necessary to reduce Ihe charge \0 Ihe permilled limit; and (b) any sums already colle<:lcd from me which exceeded pennilled limils will be rdunded 10 me. The NOle Holder may choosc 10 make Ihis refund by rcducing Ihe Principal I owe under this Note or by making a direct payment 10 me. If a refund reduces Principal, Ihe reduclion will be !reated as a partial Prepaymcnl. 6. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If Ihe Note Holder has nOI received the full amOUnl of any monthly paymenl by the end of Fi fteen calendar days afler the date il is due. I will pay a late charge to the Note Holder. The amount of the charge will be 5.00 % of my overdue payment of principal and interest. I will pay this lale charge promplly but only once on each lale payment. (B) Default If I do nOl pay the full amount of each mOnlhly paymenl on the dale it is due, I will be in default. (C) Notice of I><<:faull If I am in default, the NOle Holder may scnd me a wrillen notice lelling me that if I do not pay the overdue. amount by a cenain date, the Note Holder may require mc to pay immediately Iht: full amuunI of Principal which has nol bcen paid <lOll all lhe interesl thai I owe on that amount. ThaI dale must be at least 30 days aCler Ihe dale on which the notice is mailed 10 me or delivered by other means. (0) No Waiver By Note Holder Even if, al a lime when J am in default, the Note Holder does nOI require me 10 pay immediately in full as described above, the Notc Holder will still h:lVc.lhe right 10 do so if I am in default at a I:JIer lime. (E) Payment of Nole Holder's CoslS and Expenses If Ihe NOle Holder has required me 10 pay immediately in full as described above, the Note Holder will havc the right 10 be paid back by me for all of its costs and expenses in enforcing this Note to the exlenl nOl prohibited by applicable law. Those expenses include, for example. reasonable attorneys' fees. 7. GIVING Of NOTICF..s Unless applicable law rcquires a di fferent method, any nOliee thaI mUSI be given 10 me under this NOle will be givcn by delivering il or by mailing it by firsl class mail to me al the Propeny Address above or at a different address if I give the NOle Holder a nOlice of my different address. Any nolice that must be givcn 10 the Nolc Holder under this Note will be given by delivering it or by mailing il by lirsl class mail 10 Ihe Note Holder at the address slated in Seclion 3(A) above or ::It a different address if I am given a notice of thm differcnI address. 8. OBLIGATIONS OF PERSONS UNDER nlls NOTE If more Ihan one person signs [his Note, each person is fully and personally obligated 10 keep all of the promises made in this Note, including Ihe promise to pay lhe full amount owed. Any person who is a guarantor, surety or endorser of this Note IS also obligaled to do these Ihings. Any person who takes over these obligations, including the obJigal ions of a guaranlOr. surety or endorser of this Note, is also obligated 10 keep all of Ihe promises made in lhis Note. The NOle Holder may enforce ils righls under Ihis Notc againSt each person individually or againsl all of us logethcr. This means lhal anyone of us may be rcquired 10 pay all of the amounts owed under Ihis Norc. 9. WAJVERS I and any other person who has obligalions under this NOle waive the righls of Prescntmenl and NOlice of Dishonor. .Prcsentment. means the righl 10 require lhe Note Holder to demand payment of amounls due. .Nolice of Dishonor- means Ihe right 10 require the Note Holder 10 give notice to other persons th:n amounls due have not been paid. rt )I~O ~lOAIC)L FI~(D RJ.l[ rJOl f . ~'ngIe r ~d..,. Ilnnie ""~1f'tOdle Ml!loC UNifORM INSTRUMENT ....MPCj WOht-'lll.lu.....rr ril'\llln(i.l Se'",,(p, In'llllls:cS. T 04l79171"J6 FOlm 341101/01 vMP~NlrlJ 108031 Poge '1 o' 3 P.3gc::! of 3) 10. UNIFORJ\1 SECURED NOTE This Note is a unifonn instrument with limited varialions in some juri.~clictions. In addition 10 the protections given 10 the Note Holder under this NOIe. a Mongage, Deed of Trust. or Security Deed (the .Security InSlfument"). dated the same dale as this Note, protects the NOle Holder from possible losses which might result if I do nor keep the promises which I make in this Note. ThaI Security Instrument describes how and under whal condilions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those condilions are described as follows: Jr all or any part of the Property or any Interesl in the Propeny is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Inslrumcnl. However. this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Jr Lender exercises this option. Lender shall give Borrower notice of acceleration. The notice shall provide a period of nOI Jess Ihan 30 days from Ihe date lilt: nut ice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrumenl. If Borrower fails to pay these sums prior 10 the expiration of this period, Lender may invoke any remedies permitted by this SeturilY Inslrument withoul funher notice or demand on Borrower. IJ. DOCUMENTARY TAX The SI:lIe documentary laX due on this Note has been paid on the mortgage securing this indebtedness. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED j;lia&t1e-Cj)---- SHONAE TROTMAN (Seal) .Borrower (Seal) -BorrowCf (Seal) (Seal) . Borrower .Borrowcr (Seal) (Seal) - Borrou,.'tr -Borrowtr (Seal) (Seal) -Bnnowtl - Borrowr r /Sign Original Only! rl3120 FlORIQA FI)CEO RATE NOll 4 Single Fe""..... Fannie MaeJF'ledel~ Mac UNIFORM INSTRUMENT VMP 8 Wofters. I:.IuYvf:ol r.n.nc;i"l ~"';ce' 0479772436 Form 32101101 VM~N,rLlI080JI Paog. 3 01 J lni'i...:~.1 L